BusinessMirror December 11, 2023

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TO EASE INFLATION, NEDA n

BACKS LOGISTICS RELIEF NG’s Oct gross borrowings soars 23.4% to ₧225B–BTr

By Jasper Emmanuel Y. Arcalas @jearcalas

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DANGEROUS GAME A Chinese Coast Guard ship uses water cannons on Philippine navy-operated supply boat M/L Kalayaan as it approaches Second Thomas Shoal, locally known as Ayungin Shoal, in the disputed South China Sea on Sunday December 10, 2023. The Chinese coast guard targeted Philippine vessels with water cannon blasts Sunday and rammed one of them, causing damage and endangering Filipino crew members off a disputed shoal, just a day after similar hostilities at another contested shoal, Philippine officials said. Stories in Nation, page A5, and A2. PHILIPPINE COAST GUARD VIA AP

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By Cai U. Ordinario

@caiordinario

IFTING toll charges for food trucks as well as expanding exemption of pass-through fees to non-rice food items could further bring down inflation, according to the National Economic and Development Authority (Neda).

Neda Undersecretary for Policy and Planning Rosemarie G. Edillon said in a recent briefing that these are additional costs that keep inflation high in the Philippines.

Edillon also told BusinessMirror that the pass-through exemption is already part of Executive Order 41. She said several Local Government Units (LGUs), including those in Metro Manila, have issued their respective resolutions to comply with the EO. “On the exemption from toll fee increase, I know that this is being negotiated with the expressway operators; this was requested by

the economic team, mainly the Department of Finance,” Edillon added.

In September, President Ferdinand R. Marcos Jr. issued EO 41, a measure “prohibiting” the collection of logistics fees on national roads and “urging” local government units to suspend the collection of fees on vehicles transporting goods.

What was considered was that, since there will be toll hikes on the expressways, it might be possible to exempt the food delivery trucks from the toll.

See “Inflation,” A2

HE state’s gross borrowings in October rose by almost a quarter year-on-year to over P225 billion as the national government’s domestic borrowings tripled during the reference month, according to the Bureau of the Treasury (BTr).

Latest Treasury data showed the national government borrowed a total of P225.202 billion in gross terms in October, about 23.45 percent higher than the P182.429 billion recorded in the same month of last year.

Treasury data indicated that about two-thirds of the gross borrowings in October came from domestic sources while the remaining financing was borrowed externally.

The state’s domestic gross borrowings in October tripled to P174.632 billion from P56.733 billion last year on the back of a P71.78billion retail onshore dollar bonds offering, based on Treasury data.

The state borrowed P90 billion

through the sale of fixed-rate Treasury bonds, about 16.75 percent lower than the P108.114 billion amount it generated in October last year, Treasury data showed.

The national government’s net Treasury bills reached P12.852 billion versus the P51.381 billion net redemption last year as the amount of gross borrowings outpaced payments during the reference period.

Treasur y data showed that the national government’s external gross borrowings in October declined by nearly 60 percent to P50.57 billion from P125.696 billion last year.

The drop in external gross borrowings in October was attributed to the absence of a Global Bonds offering this year compared to last year when the state raised P116.933 billion from such tender, based on Treasury data.

The state’s external borrowings via project loan fell by 8.07 percent to P8.056 billion from P8.763 billion last year.

See “NG’s,” A2

NAIA PASSENGERS REACH 41.2M, FLIGHTS REACH 257K IN 11 MOS

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

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HE operator of the Ninoy Aquino International Airport (Naia) will likely meet its projected 45 million passengers and 275,000 flights this year, with an anticipated surge in traffic for the holidays.

In a news statement, Manila International Airport Authority (MIAA) Officer-in-Charge Bryan Co reported some 41.2 million passengers passing t hrough Na ia’s gates, and 257,174 flights arriving and departing said airport from January to November 2023. “Our confidence [in meeting the year-end projection] is fueled by the impressive 11-month totals...and the anticipated passenger surge during the festive

season in December.”

Naia data further indicated the number of passengers in the 11 months to November 2023 was just 5.7 percent less than the 43.71 million recorded in the same period in prepandemic 2019, while the total flights were 1.5 percent more than the 253,369 recorded in the same period in 2019.

For full-year 2019, the Naia reached a passenger volume of some 47.91 million, while total flights reached 277,530.

PAL, CEB exceed int’l on-time standard

THE MIAA also reported that Philippine carriers have been meeting their scheduled arrivals and departures, exceeding international benchmarks for on-time performance (OTP).

See “NAIA,” A4

AT the Paskong TernoCon 2023 in SM Aura, (from left) acclaimed fashion designer Lesley Mobo, Bench founder Ben Chan, Cultural Center of the Philippines (CCP) President Margie MoranFloirendo, First Lady Liza Araneta-Marcos, SM Investments Vice Chairperson Tessie Sy-Coson, Taguig City Mayor Lani Cayetano, SM Supermalls President Steven Tan, and notable fashion designer Joey Samson gather at the event, a fusion of heritage and fashion, which features the inaugural collaboration between SM Supermalls, Bench/Lifestyle + Clothing, and the CCP. It highlights a milestone in Philippine fashion, showcasing the visionary creations of designers Mobo and Samson on the runway.

PESO EXCHANGE RATES n US 55.3190 n JAPAN 0.3755 n UK 69.4862 n HK 7.0821 n CHINA 7.7282 n SINGAPORE 41.2275 n AUSTRALIA 36.2284 n EU 59.5564 n KOREA 0.0420 n SAUDI ARABIA 14.7494 Source: BSP (December 7, 2023)

News

BusinessMirror

A2 Monday, December 11, 2023

Villars keep gift-giving rites alive with Baseco children

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N line with the annual tradition of the Villar family to make children happy this Christmas Season, about 50 Baseco children were treated to a day filled with love and joy.

For the first time, the Villar Christmas Party was held at the Villar Children’s Farm in Bacoor City, Cavite and it was attended by the Baseco children.

The Villar family—former Senate President Manny Villar, Senators Cynthia and Mark Villar, and Vistaland Holdings President and CEO Paolo Villar hosted the Christmas Party which was held at Crosswinds in Tagaytay City for the past 13 years.

The Villar family led the gift-giving to 50 Baseco children who were fetched from their places in Tondo, Manila, and brought to the Villar Children’s Farm in Bacoor City.

Sen. Cynthia Villar said the Christmas Party for the children is being held annually to keep alive the Villar tradition of gift-giving and sharing their blessings.

“Christmas has always been a special time especially for the children. This event is just one of our family’s way of giving back to the Filipino people,” Villar said.

“We hope through this celebration, we are able to spread joy to

NAIA...

Continued from A1

Average OTP for all commercial flights at Naia reached 81 percent in November, a big improvement from the 60-percent OTP in early June, but less than the 82 percent recorded in October. Weather disruptions

www.businessmirror.com.ph

Lawmakers hit water cannon attacks in Bajo and Ayungin

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AWMAKERS at the weekend slammed the latest water cannon attacks on Philippine vessels in separate incidents at the Bajo de Masinloc and Ayungin Shoal.

the kids and their families this holiday season,” she added. She also hopes the Baseco children can create wonderful and loving memories of the time spent with the Villar family.

Former Sen. Manny Villar said this occasion is one of the symbols of their family’s love and care for our

children from less fortunate families.

“We want to make them happy in our simple way during this holiday season. We also like them to have fun with us and their new found friends at Villar Children’s Farm.”

The Villars joined the Baseco children in watching a magician’s

show and playing parlor games.

The Baseco children and their companions enjoyed the foods and the games prepared by the Villar Family. The Baseco children also experienced the zipline and horse back riding as they toured the Villar Children’s Farm.

and global supply chain issues which resulted in maintenance problems among international carriers pulled down their average OTP in June.

MIAA failed to release the average OTP in November 2019.

Co said pioneering legacy carrier Philippine Airlines (including PAL Express) recorded an average OTP of 84 percent at the Naia in November,

while the average OTP of low-cost carrier Cebu Pacific Air (including Cebgo) was recorded at 83 percent. AirAsia Philippines’s OTP was recorded at 77 percent. According to the International Airport Transport Association (IATA), the global benchmark for OTP is 80 percent, which means an airline is able to attain 80 percent of its published flight schedules.

“The exceptional OTP of our major local airlines, accounting for 81 percent of all flights at Naia, is truly commendable. This impressive performance not only demonstrates their dedication to operational excellence but also significantly enhances the overall efficiency of our airport system,” Co said.

November 2023 levels

AMONG foreign carriers, Ethiopian Airlines topped the list at 100 percent OTP on its 34 f lights, followed closely by Tokyo’s Zipair with 98 percent on 60 f lights. Other airlines which achieved high average OTP included All Nippon Airways, Jeju Air, Air China, Kuwait Airways, Saudia, Etihad Airways, Singapore A irlines, and United Airlines.

In a Viber message to the BusinessMirror, Co explained the reason for the better OTP ratings of international carriers: “This is not their home base. Our home carriers have hundreds of flights per day versus foreign carriers with 2-8 [flights], depending on the airline.”

He added, similarly, the local carriers’ “individual flights going overseas may also get high OTP on the other end since they fly there only on a daily basis, or more for stations like Hong Kong, Singapore, Taipei, etc.”

Meanwhile, for November alone, MIAA reported 3.8 million passengers passed through Naia’s gates, of which some 2.02 million were domestic travelers and 1.79 million were international passengers. The total accounted for 97 percent of the number of passengers at Naia in November 2019.

Total flight movements exceeded the November 2019 level by 7 percent, reaching 24,120 flights in November 2023. Of the total, 14,520 were domestic flights and 9,600 were international flights. The flight movements cover commercial, cargo, and utility flights.

NG’s...

Continued from A1

The state also borrowed P42.514 billion in program loans in October, Treasury data showed.

On a year-to-date basis, the state’s gross borrowings from January to October dipped by 1.52 percent to P1.975 trillion from P2.01 trillion recorded in the same 10-month period last year, Treasury data showed.

The amount is already 89.48 percent of the state’s programmed full-year gross borrowing plan of P2.207 trillion, with a 75:25 mix in favor of domestic sources.

The state’s gross domestic borrowings during the 10-month period fell slightly to P1.519 trillion from P1.53 trillion in the same period last year. External gross borrowings, meanwhile, declined by 3.25 percent year-on-year to P456.311 billion from P471.655 billion.

“The Philippines may be facing a giant in the West Philippine Sea, but we must also be reminded that David had defeated Goliath,” said Senate Majority Leader Joel Villanueva.

Might does not give China the right to fire water cannons at our vessels, make dangerous maneuvers or block humanitarian missions.

Separately, Chinese forces also used water cannons on two Philippine vessels on a resupply mission at Ayungin Shoal, damaging two of these. Full story in A5 Nation.

“China has to adhere to the international laws, such as the Unclos [UN Convention on the Law of the Sea], and must stop encroaching into the Philippines’ exclusive economic zone,” Villanueva insisted.

For his part, Sen. Jinggoy Estrada, Senate Defense committee chief, said “we strongly urge the Chinese government to respect international law, exercise restraint, and cease all actions that jeopardize the peace and security of the region.”

The Philippines, Estrada noted, “has consistently advocated for peaceful and diplomatic solutions to disputes, and we call on all parties involved to engage in meaningful dialogue to address the root causes of these incidents. We must pursue avenues that promote cooperation, understanding, and respect for each other’s rights in the pursuit of a stable and secure region.”

The actions of the China Coast Guard (CCG) should never have happened, and represents a “clear violation” of human rights and the law of the sea, and reflects utter disregard for Philippine sovereign right, according to Estrada.

We stand united in condemning these latest aggressive actions taken

by CCG. We will not be cowed by any actions to intimidate or undermine our sovereign rights,” he added.

‘Illegal action’—Romualdez

HOUSE Speaker Ferdinand Martin G. Romualdez demanded concrete steps from Beijing to stop further “illegal action” by CCG ships in the West Philippine Sea (WPS).

Rather than resorting to such

Inflation...

“harassment” activities, he called on China to engage in peaceful dialogue with the country to resolve territorial disputes.

The lawmaker made the remark after CCG ships fired water cannons and used long-range acoustic devices against three vessels of the Bureau of Fisheries and Aquatic Resources (BFAR).

The BFAR vessels were on a humanitarian mission to Filipino fishermen near Bajo de Masinloc (Scarborough Shoal) when the incident happened last Saturday.

“The acts of intimidation and harassment against Filipino fisherfolk, who depend on these waters for their livelihood, are not only a violation of their rights but also an affront to human dignity. To prevent the distribution of humanitarian support is not only illegal but also inhumane,” Romualdez said in a statement on Sunday.

Bajo de Masinloc, Romualdez stressed, is within the Philippines’s 370-km exclusive economic zone, as established by the 2016 arbitral ruling.

“The Philippines, as a sovereign nation, will continue to defend its rights and protect the interests of its people. We stand in solidarity with our fishermen and reiterate our unwavering commitment to safeguarding our national territory and maritime entitlements,” Romualdez said.

The country has filed over 400 diplomatic protests against China.

The House of Representatives earlier issued its Resolution No. 1494 “condemning China’s activities in the WPS and urging the government to defend sovereign rights over the country’s exclusive economic zone.”

C h i nese Foreig n M i n i st r y Spokesperson Wang Wenbin dismissed the resolution as groundless and misrepresenting and smearing the reputation of China.

“China’s rejection of the resolution is disheartening, especially in light of its continued illegal activities in the West Philippine Sea, a clear violation of the Arbitral Award,” Romualdez said. Butch Fernandez, Jovee Marie N. dela Cruz, and Samuel P. Medenilla

Continued from A1

So that this would not add to inflation,” Edillon said partly in Filipino, in a briefing.

The President said the threepage issuance was in line with his administration’s goal to reduce transport and logistics costs to help revitalize industries.

Marcos tasked DILG to coordinate with the Department of Trade and Industry (DTI), Department of Transportation (DOTr), and Department of Public Works and Highways (DPWH).

The agencies also included the Anti-Red Tape Authority (ARTA) and DOF. This will ensure that existing ordinances of LGUs related to pass-through fees are consistent with the LGC. The Philippine Statistics Authority (PSA) earlier disclosed that the country’s inflation slowed to 4.1 percent in November. This was slower than the 4.9 percent posted in October 2023 and 8 percent recorded in November 2022. (Full story here: https://businessmirror.com.ph/2023/12/05/ inf lation-slows-to-4-1-in-november-psa/) However, PSA data showed despite the slower headline inflation, certain commodities such as rice posted an inflation rate of 15.8

percent in November, higher than the 13.2 percent posted in October 2023 and the 3.1 percent posted in November 2022.

Rice, the food staple of Filipinos, has a weight of 8.87 percent in the Consumer Price Index (CPI) for All Income Households and 17.87 percent of the basket of goods for the Bottom 30 percent of Filipinos or the poorest in the country.

Based on the latest data, the three rice classes being monitored

by PSA showed higher rates in November compared to both the October 2023 and November 2022 rates.

Regular milled rice prices increased to P46.73 per kilo in November 2023, higher than the P45.42 per kilo in October 2023 and P39.57 per kilo in November last year.

Well-milled rice, meanwhile, averaged P51.99 per kilo in November 2023. This was also higher than the average of P51 per kilo in October 2023 and P43.86 per kilo in November 2022.

Special rice also showed higher prices at an average of P61.47 per kilo. This is higher than the P60.95 per kilo in October 2023 and P53.53 per kilo in November 2022.

Monday, December 11, 2023

A4

Economy

EU investment for PHL digital hub has caveat

By Andrea E. San Juan @andreasanjuan

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UROPEAN firms are ready to invest in the Philippines and turn it into a digital hub in the region, but the country should “strongly” implement policies that support a digital trade environment, an international trade expert said.

Colette van der Ven, trade policy expert with the International Trade Centre, also underscored the importance of a Philippine-European Union free trade agreement (FTA), read a statement the Philippine Exporters Confederation Inc. (Philexport) released last Friday.

Van der Ven, according to Philexport, said an FTA between the two economies can help transform the Philippines into a regional digital hub through the launch of the

EU’s “digital economy package” for the country.

Van der Ven, who gave a talk at the EU-Philippines Partnership Conference last week, said trade is a “digital enabler” because it can “unleash digital growth in the Philippines and support [small-scale and medium-sized enterprises] SMEs.” Robust trade can provide opportunities for digital acceleration because it can lead to the “enhancement of the digital infrastructure, creation of a digitally enabling environment, and access to goods, services, and technologies needed for the country’s digital transition,” the expert said on December 5.

Moreover, she noted it can open up new market opportunities for digitally enabled products and services from the Philippines.

However, Van der Ven raised the concern that the Philippines has

“more restrictive” regulations on foreign direct investments (FDIs) compared to some of its Asean peers like Malaysia, Vietnam, Thailand and Indonesia.

Citing the “FDI Regulatory Restrictiveness Index 2019” of the OECD, she said: “You can see that the Philippines is much more restrictive across the board except for the retail sector...so FDI inflows have not been as strong as compared to other regional countries.”

But van der Ven said the passage of new laws liberalizing trade and foreign ownership in the country can only help to “loosen” this restrictiveness.

Asked about “policy improvements” that can enhance digital trade opportunities in the country, reactors at the said conference said there are “very few” regulations that need to be drafter or amended.

Philexport Executive Vice President Senen M. Perlada pointed out while the country’s laws are “more than sufficient,” some lack implementing rules and regulations.

“We have enough laws. We just need to implement and follow the spirit of the law and provide resources,” he said.

If there is one regulation that still needs crafting, it is policies on blockchain, Perlada added.

For his part, Roehl Ramon Gurango of the National ICT Confederation of the Philippines “pressed for the urgent passage” of the Open Access bill.

According to Philexport, this proposed legislation seeks to address the legal obstacles and outdated laws that put up high barriers to entry of new ICT players and “perpetuate a costly and inefficient way of installing broadband infrastructure.”

Other panelists, meanwhile, suggested the signing of more FTAs by the Philippines, further simplification of regulations and the political will for their implementation, especially the Ease of Doing Business law, and policies that will raise the awareness of the common Filipino about what the new laws are about and how these can benefit them.

Gadon to DENR on Manila Bay reclamation projects: ‘Let it go’

By Jonathan L. Mayuga @jonlmayuga

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R ESIDENTI A L Adv iser for Anti-Poverty Alleviation Secretary Larry G. Gadon is calling on the Department of Environment and Natural Resources (DENR) to develop a clear policy on the reclamation projects in Manila Bay. Along with Gadon, leaders from the government and private sectors agree. Philippine Chamber of Commerce and Industry President Sergio R. Ortiz-Luis Jr. supports the Presidential Adviser’s call, underscoring the benefits of such a multi-billion peso project to the economy.

Speaking during a Partners’ Forum at the Quezon City Sports Club on Friday, Gadon said he supports the decision of President Ferdinand R.

Marcos Jr. to suspend the 22 reclamation projects around the country, due to alleged environmental violations divulged by DENR. However, he said, the strict compliance to all regulations by the proponents of the two Pasay reclamations projects, which the President has eventually exempted will ensure sustainability of the benefits that will be derived from the projects.

“I am only concerned with job generations. The Marcos administration is aware that job generation is the best solution to poverty alleviation, hence the passage of the ‘Trabaho Para sa Bayan’ Act,” Gadon said. “Aside from the job generation, I believe it is important that there will be new tax sources and government proprietary income to sustain social benefit programs.”

For his part, Ortiz said the DENR is harping on “potential violations” giving the country an estimated P40 million in losses every day over the stalled two projects in the metropolis bay, particularly in the Pasay City area which were planned in 2017. He pointed to a study by architect Felino A. Palafox Jr. that showed land reclamation projects may serve as a barrier for tsunamis.

A morsolo Competente, L a k as Manggagawa Labor Center representing workers from the private sector, said not only hundreds but thousands Fi lipino workers w i l l benefit from the two reclamation projects in Pasay City. “ R ec l a m at ion is not bad. Si ngapore a nd Tel Av iv sea f ronts a re rec l a i med a rea s. Even t he c r itics t here a re now a l so benef it i ng

f rom t hose rec lamation projects,” Competente sa id.

Christopher Bautista, president of the Kapisanan ng mga Manggagawa sa GOCC at GFIs (Government Owned Controlled Corporation, Government Financial Institutions) cited the Philippine Reclamation Authority—the group’s affiliate—that “already pronounced the Pasay reclamation projects are complaint.”

“We’re one with Secretary Gadon.

We should not be reactive to this issue. Makakasama na sa ating ekonomiya, masisira pa ang imahe ng bansa [foreign investors]. We are pushing for ‘ease of doing business,’ pagkatapos ang mga ganitong projects hahadlangan natin,” Bautista said.

The group said the DENR should focus on segment assessment of every reclamation project.

Solon seeks govt action on dry spell’s impact on power supply

By Samuel P. Medenilla @sam_medenilla

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LAWMAKER from Quezon City has called on Congress to look into the gover nment’s readiness on the potential power disruption during the dry spell

from the intensifying impact of El Niño in the coming months.

In a statement issued last Sunday, Quezon City Rep. Marvin D. Rillo expressed concern on how El Niño can affect the operation of the country’s hydroelectric power plants.

He noted that 13.9 percent or

2,416 megawatts (MW) of Luzon’s generating capacity come from hydropower facilities.

“We would urge the House committee on energy to look into the potential adverse impact of prolonged below normal rainfall conditions on hydroelectric power plants in Luzon,” Rillo said.

Citing data from the Department of Energy, the lawmaker said there are 14 hydroelectric power plants in Luzon.

These are the following: Kalayaan PSPP in Kalayaan, Laguna (720 MW); San Roque in San Manuel, Pangasinan (404 MW); Magat in Ramon, Isabela (345.6 MW); Angat Main in Norzagaray, Bulacan (200 MW); Casecnan (NIA) in Pantabangan, Nueva Ecija (150 MW); Binga in Itogon, Benguet (138 MW); and, Pantabangan in Pantabangan, Nueva Ecija (120 MW).

Also in the list are Ambuklao in Bokud, Benguet (105 MW); Bakun AC in Alilem, Ilocos Sur (59.4 MW); Caliraya in Lumban, Laguna (35 MW); Botocan in Majayjay, Laguna (22 MW); Angat Aux in Norzagaray, Bulacan (18 MW); Sabangan in Sabangan, Mountain Province (15 MW); and, Masiway in Pantabangan, Nueva Ecija (12 MW).

R i l lo m ade t he rem a rk a f ter Manila Electric Co. (Meralco) and Aboitiz Power Corp. issued warnings last month on the potential power shortage next year due to increasing demand and the impact of El Niño.

In an advisor y issued on December 6, the Philippine Atmospheric, G e o p h y s i c a l a n d A s t r o no m i c a l Ser vices Administration said that the effects of El Niño are expected to reach its peak in the coming months.

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

NEDA preps for law focused on PHL ‘KIST’ industry’s devt

By Cai U. Ordinario @caiordinario

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HE National Economic and Development Author it y (Neda) is laying the groundwork for a new law that will be specific for the “knowledge and innovation, science and technology,” or “KIST,” industry.

Ned a Undersec ret a r y for Policy and Planning Rosemarie G. Edillon said they will first conduct a study to gather information regarding the industry and determine best practices the country can adopt in this regard.

The KIST are part of firms using the Philippine Economic Zone Authority (PEZA) law and are encountering a number of restrictions that prevent them from thriving and growing as an industry.

“Right now they’re using the PEZA law. If you’re a [firm registered with the] PEZA, a big percentage [of what you produce]—70 percent—has to be exported,” Edillon recently told reporters.

“You have other restrictions like you cannot do work from home, it’s has to be done within the zone. We think it will not be a conducive environment for KIST. So we want to put in place a different policy framework [which will allow them to thrive],” she added.

Edillon said once a bill is drafted, Neda can search for a champion in both at the House

of Representatives and the Philippine Senate to have the bill passed into law.

“No champion yet. But we know there will be a number of it who’ll be interested, especially the ones who really began the work on the Philippine innovation,” the Neda official said.

Four months ago, the PEZA signed a joint memorandum circular (JMC) on the “KIST Park Guidelines” with the Department of Science and Technology (DOST), which aims to support strategies for skills development, among others.

The JMC seeks “to set the criteria and procedures in evaluating applications for registration of KIST Ecozones and administration of incentives to KIST developers/operators and locators under Republic Act [R A] 7916, as amended.”

The circular noted that the JMC shall cover applications for establishment of KIST Park by higher education institutions (HEIs) and its declaration as an ecozone under the PEZA Framework.

It shall also cover the registration and administration of fiscal and non-fiscal incentives to KIST Ecozone Developers/Operators and Locators including start-up and spin-off companies.

Among the objectives of the KIST Ecozones are to transform idle lands owned by HEIs into more productive uses catering to STI purposes.

Bong Go eyes salary hike for public sector workers

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ENATOR Christopher “Bong” Go filed on December 5, Senate Bill (SB) 2504, aimed at increasing the salaries of civilian personnel in the Philippine government. This is in response to current economic conditions and in recognition of the crucial role government civilian employees play in ensuring unhampered public service delivery.

T he pro p o s e d me a s u re, a l so known as the “Salary Standardization Law VI,” seeks to build upon the provisions of the previously enacted Republic Act (RA) 11466 or the Salary Standardization Law (SSL) 5, which Go served as one of its authors and co-sponsors in the Senate in 2019. “ M a h a l a ga n a p a t u lo y n a t in g binibigyang pansin at itinataas ang sahod ng ating mga ordinaryong lingkod-bayan. Sila ang pundasyon ng ating gobyerno, walang pagod na naglilingkod para sa kapakanan ng bawat Pilipino,” said Go. “Unahin natin ang interes at kapakanan ng mga ordinaryong empleyado sa pampublikong sektor dahil sila ang araw-araw na kumakayod para masigurong makarating sa tao ang serbisyo ng ating gobyerno,” he added.

The proposed SSL 6 underscores the need to review and augment the salaries of government employees in light of the increasing cost of living and inflation rate. As of October 2023, the inflation rate stands at 6.4 percent, according to the Philippine Statistics Authority. This rate exceeds the government’s targeted

ceiling of 2 percent to 4 percent.

Go’s bill proposes a modified salary schedule for civilian personnel, with increases planned in four tranches. If enacted and approved, this schedule includes all civilian government personnel across the Executive, Legislative, and Judicial Branches, Constitutional Commissions, governmentowned or -controlled corporations not covered by RA 10149, and local government units.

In the explanatory note of the bill, Go emphasized the importance of this legislative move, say ing, “Having a competitive compensation in government service not only improves the lives of government employees, but it also attracts employees with sufficient expertise and skill. It dignifies work in the government.”

“Improving compensation in government will also provide viable and more attractive job opportunities to Filipinos aside from what are available in the private sector. Moreover, properly compensating the government workforce is also a way to discourage corruption and promote a dignified source of living,” he explained further.

If enacted, the bill would mark another significant step in the efforts to improve the welfare of government workers in the country. The proposed salary adjustments are aimed at helping government workers cope with the rising cost of living while attracting competent professionals to the public sector.

“Tungkulin natin na siguraduhing ang ating mga kawani sa gobyerno ay nabibig yan ng sapat na suporta at kompensasyon na nararapat para sa kanilang dedikasyon at serbisyo sa bayan,” he said.

“Ang panukalang ito ay magiging simbolo ng ating dedikasyon sa pagpapabuti ng kalagayan ng ating mga manggagawa sa gobyerno, na mahalaga para sa pagpapanatili ng isang mahusay at epektibong serbisyo publiko sa Pilipinas,” concluded Go.

Nation

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

US, 10 embassies assail China over 2 water cannon incidents in WPS

By Malou Talosig-Bartolome

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HE United States ambassador to the Philippines and at least 10 of her counterparts in Manila quickly called out China at the weekend for engaging Philippine vessels in “dangerous” sea maneuvers in the West Philippine Sea. “The US stands with the Philippines and partners in vehemently condemning the PRC’s repeated illegal and dangerous actions against Philippine vessels, including disrupting the Philippine resupply mission to the Sierra Madre today (December 10). PRC aggression undermines regional stability in defiance of a #FreeAndOpenIndoPacific,” US Ambassador MaryKay Carlson posted in her X account.

Carlson was referring to the incident on Sunday when Chinese Coast Guard fired water cannons and rammed the resupply vessels that caused “serious engine damage” to one.

On Saturday, three civilian vessels of the Bureau of Fisheries and Aquatic Resources (BFAR) were also blasted with water at they passed near the Bajo de Masinloc (Scarborough Shoal), located off Zambales and within the Philippine Exclusive Economic Zone.

Ambassador Carlson also condemned China’s “aggressive, illegal actions” against the BFAR vessels. “This PRC behavior violates international law and endangers lives and livelihoods.

We stand with our Philippine friend, partner, ally in support of a free and open Indo-Pacific,” she tweeted.

Other foreign ambassadors or embassies who called out China included: 1. British Ambassador Laure Beaufils n UK notes unsafe actions by the PRC against Philippine vessels for the second day running.

This disrupted a Philippine routine resupply mission and once again undermines regional stability. UK calls for adherence to UNCLOS and the respect of the 2016 arbitral award which is binding on both parties. n The UK is aware of the unsafe actions by CCG vessels against Philippines BFAR vessels near Scarborough Shoal today. This endangers lives and livelihoods and undermines regional peace and stability. The UK reiterates its full support for UNCLOS. 2. French Ambassador Marie Fontanel n UNCLOS was signed exactly 41 years ago Dec. 10th 1982. Today more than ever recalls the value of international law to ensure freedom of navigation and is, once again, seriously concerned by the use of water cannons in the Philippine EEZ to prevent a resupply mission to BRP Sierra Madre. n Seriously concerned once again by the very dangerous actions preventing the course of a resupply mission in the Philippine WPS today. France reiterates the importance of UNCLOS to ensure freedom of navigation and recalls the 2016 Arbitral Award.

3. Australian Ambassador HK Yu n Australia remains steadfast in support of UNCLOS and international law. China’s further dangerous actions against Philippine vessels today, following yesterday’s incident, again risk lives and livelihoods and are deeply concerning. n Seriously concerned by reports of dangerous actions by Chinese vessels against Philippine vessels today. This endangers lives and livelihoods. Australia again reiterates the call for peace, stability and respect for UNCLOS in the South China Sea, a vital international waterway for us all.

4. Japanese Ambassador Koshikawa Kazuhiko n Gravely concerned about repeated dangerous actions by CCG vessels against PH vessels.

Japan stands with the Philippines in support of a Free and Open Indo-Pacific. Japan opposes actions that undermine the peace and stability in SCS. n Seriously concerned about the dangerous actions by CCG vessels against PH vessels, which endanger lives and livelihoods and pose the threat to the peace and stability in SCS. We reiterate the importance of upholding international law, particularly UNCLOS, and 2016 Arbitral Award.

5. European Union Ambassador Luc Veron n Another deeply troubling incident today, water cannons used again. UNCLOS dispute settlement mechanisms maintain the rule of law. The 2016 UNCLOS Tribunal Award is a valuable framework for peaceful resolution. Water cannons and dangerous sea maneuvers aren’t a legitimate alternative. n The EU recalls that UNCLOS dispute settlement mechanisms contribute to maintaining and advancing the rule of law. The 2016 UNCLOS Tribunal Award is legally binding and useful for peacefully resolving disputes. Water cannons aren’t!

6. German Ambassador Andreas Pfaffernoschke n Germany fully supports the statement made by the ambassador of the EU and calls for the respect of the rule of law, including the 2016 UNCLOS award.

7. The Netherlands Ambassador Marielle Geraedts. n The Netherlands strongly condemns all actions that are not in line with UNCLOS and the 2016 arbitral award. Freedom of navigation is an essential part of the international law of the sea.

8. New Zealand Ambassador Peter Kell n New Zealand is deeply concerned at multiple incidents of dangerous actions towards the Philippines at Scarborough Shoal and Second Thomas Shoal. This includes obstructing civilian boats and the use of water cannons against Philippine vessels, causing significant damage. These actions pose real risks to safety and lives, and risk undermining regional stability. New Zealand again firmly calls for all parties to resolve disputes peacefully in full accordance with UNCLOS. 9. Ireland Embassy in Manila n Ireland is concerned with the reports of further actions against Philippine vessels in the South China Sea. We reiterate our support for the international rules-based order & call for all sides to respect their legally binding obligations as set out in UNCLOS and the 2016 Arbitral Award.

10. South Korea Embassy in Manila n The ROK Embassy in the Philippines is concerned about the recent use of water cannons against Philippine vessels in the South China Sea. We reaffirm our strong support for peace, stability and rules-based order in the South China Sea and for the freedom of navigation and overflight based on the principles of international law, including Unclos.

MILF ex-combatants now job-ready Story & photo

by Manuel T. Cayon

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AVAO CITY—From armed combatants to government-cer tified skilled workers, more than a thousand former fighters of the Moro Islamic Liberation Front (MILF) recently graduated their choice vocational short course last week to become job-ready and prepared for integration to mainstream society.

A total of 1,255 decommissioned combatants from the MILF and their families graduated from the technical-vocational skills training program sponsored by the Bangsamoro government.

The Ministry of Basic, Higher and Technical Education-Technical Education and Skills Development (MBHTE-TESD) bestowed on the graduates their national certification at the end of their vocational training at thje MILF’s Camp Darapanan in Sultan Kudarat, Maguindanao del Norte, on December 5.

Education Minister Mohagher M. Iqbal and Deputy Minister Haron S. Meling, along with MBHTE-TESD Bangsamoro Director General Ruby A. Andong and Maguindanao Provincial Director Salehk B. Mangelen graced their graduation ceremony.

Iqbal emphasized in his speech that the skills would transform the graduates into “productive members of society ultimately enhancing their quality of lives.”

“Su umpungan tanu, syaden sa indaw taman e magaga nin magidsan e siya pakaukit kanu kapasadan nu gobyerno endo siya mismo sa BARMM endo MILF na pagatulen tanu samaya e aden madtabang salkanu sa ukit a mabaloy a uyag-ugag a mapya,” he said in the vernacular Maguindanao dialect. [Our leadership, both the BARMM government and the MILF, will do its best effort to support you in improving your livelihood.]

The graduates were among the 2,240 combatants that the MBHTE-TESD has targeted to complete their vocational training before

Monday, December 11, 2023

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Chinese aggressive actions off Ayungin damage 2 PHL ships

By Rex Anthony Naval

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N the continuing cat-and-mouse game in the West Philippine Sea (WPS), two Filipino vessels were damaged in the latest attempt of Chinese vessels to impede the routine resupply and rotation (RORE) mission to the detachment aboard the BRP Sierra Madre (LS-57) in Ayungin Shoal last Sunday.

“Today, 10 December 2023, CCG and CMM vessels harassed, blocked, and executed dangerous maneuvers on Philippine civilian supply vessels, in another attempt to illegally impede or obstruct a routine RORE to BRP Sierra Madre at Ayungin Shoal. CCG vessel 5204 deployed a water cannon against the Philippine supply vessels, causing severe damage to M/L Kalayaan’s engines, disabling the vessel and seriously endangering the lives of its crew. Currently, Philippine Coast Guard [PCG] vessel BRP Sindangan [MRRV-4407] is safely towing M/L Kalayaan back to Ulugan Bay, Palawan,” the National Task Force for the West Philippine Sea (NTF-WPS) said in a statement last Sunday.

Also damaged in this aggressive action by the Chinese is the PCG ship, BRP Cabra (MRRV-4409), which sustained damage in its mast after being hit by a CCG water cannon.

“The PCG vessels and the resupply boats Unaizah Mae 1 [UM1] and M/L Kalayaan were subjected to reckless and dangerous harassment at close range by CCG and CMM vessels on their approach to Ayungin Shoal,” it added.

This harassment included a CCG ship with bow number 21556 ramming UM1.

“Contrary to CCG disinformation, UM1 was rammed by CCG 21556. Despite these extreme and reckless actions, UM1 successfully reached BRP Sierra Madre, and resupply is ongoing,” the task force stressed.

It reiterated that Ayungin Shoal is a low-tide elevation within the Philippine’s exclusive economic zone

(EEZ) and continental shelf, in accordance with the United Nations Convention on the Law of the Sea (Unclos) and as upheld by the 2016 Arbitral Award.

“The Philippines exercises sovereign rights and jurisdiction over the feature. As a low-tide elevation, Ayungin Shoal can neither be the subject of a sovereignty claim nor is it capable of appropriation under international law. China cannot lawfully exercise sovereignty over it,” it noted.

The task force also dismissed China’s assertion that its actions in the vicinity of Ayungin Shoal are a legitimate exercise of law enforcement measures, noting that it has no basis in international law.

The NTF-WPS also expressed grave concern over the deliberate disinformation conducted through official channels that distort facts on the ground.

It also condemned China’s latest unprovoked acts of coercion and dangerous maneuvers against a legitimate and routine Philippine RORE to Ayungin Shoal that has put the lives of crew members involved in the mission.

The body said the systematic and consistent manner in which the People’s Republic of China carries out these illegal and irresponsible actions puts into question and significantly doubt the sincerity of its calls for peaceful dialogue.

It added that peace and stability cannot be achieved without due regard for the legitimate, well-established, and legally settled rights of others.

“We demand that China demonstrate that it is a responsible and trustworthy member of the international community,” NTF-WPS stressed.

Despite these developments, it added that the Philippines will continue to act in accordance with international law, particularly Unclos and the 2016 Arbitral Award.

“The Philippines will not be deterred from exercising our legal rights over our maritime zones, including

Ayungin Shoal which forms part of our EEZ and continental shelf,” it said.

BFAR vessels water-cannoned in Bajo De Masinloc EARLIER, the NTF-WPS condemned the CCG and CMM for the illegal and aggressive actions they carried out against the Bureau of Fisheries and Aquatic Resources (BFAR) vessels BRP Datu Sanday, BRP Datu Bankaw, and BRP Datu Tamblot while these ships were going about a humanitarian and support mission for 30 Filipino fishing vessels off Bajo De Masinloc (Scarborough Shoal) on December 9.

The mission involved the distribution of fuel subsidies and grocery packs to fishermen manning these vessels.

“Based on the reports received, as the BFAR vessels approached 1.4 to 1.9 nautical miles from Bajo De Masinloc, the CCG ships utilized water cannons to obstruct and prevent BFAR vessels from approaching the Filipino fishing vessels eagerly awaiting the oil subsidy and grocery packs. The water cannons had been used at least eight times at the time of reporting. Additionally, the CMM vessels are reported to have engaged in dangerous maneuvers and deployed what is understood to be a Long-range Acoustic Device (LRAD) against the BFAR vessels—causing severe temporary discomfort and incapacitation to some Filipino crew.

Water cannon action(s) have resulted in significant damage to BFAR vessel Datu Tamblot’s communication and navigation equipment, as it was directly and deliberately targeted by the CCG,” the NTF-WPS said.

The task force also denounced the deployment of rigid hull inflatable boats (RHIBs) to disperse and drive away Filipino fishing vessels awaiting the distribution of fuel subsidies and food supplies from the BFAR ships.

Preventing the distribution of humanitarian support is not only illegal but also inhumane, the task force stressed.

Human trafficking still top threat to OFWs–BI chief

By Joel R. San Juan @jrsanjuan1573

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HE Bureau of Immigration (BI) has admitted that human trafficking syndicates continue to victimize aspiring overseas Filipino workers (OFWs) despite the government’s intensified campaign against them.

Thus, BI Commissioner Norman G. Tansingco warned not to fall prey to these syndicates pretending to offer work in several Asian countries as call center agents to Filipinos but would eventually be used as love scammers abroad.

Tansingco made the warning following

the repatriation of 27 Filipinos from Phnom Penh, Cambodia, on December 8 after being rescued from their traffickers.

The BI chief noted that most of these newly repatriated OFWs left the country at the end of 2022 or the first half of 2023, indicating that unscrupulous individuals have not ceased their illegal activities despite repeated warnings and reforms instituted by the Philippine government.

“We have warned about this syndicate as early as October last year,” Tansingco said. “It has been more than a year and we are still seeing victims being duped in accepting their fake offers.”

Based on the reports reaching the BI

Some of the repatriates claimed that they were abused and tortured in the workplace, and were later sold by their Chinese employers to another company.

The Cambodian police rescued the victims during their transfer after being sold to other companies and were eventually assisted by the Philippine Consulate in Phnom Penh.

“Imagine being a professional here but ended up being sold like a slave abroad.

These are the real stories that we have been hearing every day, yet people continue to say yes to this,” the BI chief said.

The repatriates are now under the supervision of the Overseas Workers Welfare Administration, Department of Migrant Workers and the Department of Foreign Affairs after immigration clearance.

Solons studying move to Taguig

THIS Tuesday, December 5, 2023, photo shows some of the graduates of vocational short courses provided through a program sponsored by the Bangsamoro government.

T

MANUEL T. CAYON

the end of the year.

Aside from certificates of training, the graduates also received tool kits and training support fund allowance from MBHTE-TESD. The graduates underwent rigorous training in various national competencies, including Carpentry II, Dressmaking II, Bread and Pastry Production II, Electrical Installation and Maintenance II, Cookery II, and Animal (chicken) Production II. These programs were conducted with 16 different technical vocational institutions in Cotabato City and Maguindanao del Norte.

Taya Maguid, a 51-year-old dressmaking trainee from Barangay Darapanan, expressed her gratitude to the BARMM government for

chief, 12 out of the 27 Filipino victims left the country illegally via boat from Zamboanga, evading formal immigration inspection. They allegedly traveled for 11 hours from Zamboanga to Sabah, Malaysia, before transferring to Cambodia.

On the other hand, the other victims claimed that they departed by pretending as regular tourists traveling abroad for a holiday.

One of them, according to the BI, departed as a documented OFW, but was supposedly bound for Palau and not Cambodia.

During interrogation, the 27 victims said they were forced to work as love scammers, targeting old men residing in the United Kingdom.

“Moreover, Filipino fishermen have reported and documented the CCG launching a small boat early this morning [December 9] to illegally install a floating barrier at the southeast entrance of Bajo De Masinloc. The actions of CCG and CMM hindered the BFAR vessel from accessing the entrance of the shoal,” it added.

The NTF-WPS noted that Bajo De Masinloc is a high-tide feature with territorial sea, per the 2016 Arbitral Award.

It forms an integral part of the Philippine national territory under the Constitution.

The Philippines exercises sovereignty and jurisdiction over the shoal and its territorial sea.

The 2016 Arbitral Award has also clarified that Filipinos have traditional fishing rights in the water of Bajo de Masinloc protected by international law.

“China’s illegal exercise of maritime law enforcement powers, interference with Philippine vessels, harassment and intimidation of Filipino fisherfolk, or any other activity that infringes upon the Philippines’ sovereignty and jurisdiction in Bajo de Masinloc are violations of international law, particularly [United Nations Convention on the Law of the Sea] Unclos and the Arbitral Award,” NTF-WPS added.

It i nsisted t h at t hese C h i nese vesse l s leave Bajo De Ma si n loc i m med i ate ly.

“We demand that the Chinese government take immediate action to halt these aggressive activities and uphold the principles of international law and desist from actions that would infringe on Philippine sovereignty and endanger the lives and livelihood of Filipino fishermen who have traditionally fished in the area. The NTF-WPS remains committed to protecting the sovereignty and territorial integrity of the Philippines in the West Philippine Sea,” NTF-WPS concluded.

the skills she acquired. Maguid, has been the sole breadwinner for her three children after she became a widow.

Now that I have completed the course, “this will contribute to the livelihood of my family,” Maguid said.

Providing skills-training to MILF combatants is part of the implementation the Executive Order 79, also known as the Annex on Normalization, signed by former President Rodrigo R. Duterte on April 24, 2019, the BARMM information office said.

The EO outlines four main aspects of the peace mechanism: security, socio-economic development, confidence building-measures, and transitional justice and reconciliation.

HE House of Representatives (HOR) is now studying moving out of Quezon City and into in BGC, Taguig City, to “fast track legislative efforts.”

The Lower House created an ad hoc panel led by Camarines Sur Rep. Luis Raymund F. Villafuerte to look into the feasibility of the said move.

Senior Deputy Speaker Aurelio D. Gonzales Jr. of Pampanga and Deputy Majority Leader David C. Suarez of Quezon were named as vice chairmen of the panel.

The three lawmakers have filed House Resolution (HR) 1390, which proposed the relocation of the HOR to improve its “communication and coordination of legislative work” with the Senate.

“The rationale behind this plan to put the House and the Senate close to each other is meant to facilitate better communication and coordination among the lawmakers of both chambers with regard to legislative

work,” read a statement the lawmaker issued last Sunday.

Among the factors of the transfer, which will be considered by the committee is fund source of the project, as well as building construction and public transportation accessibility of the proposed location in BGC. Currently, the HOR is located at the Batasang Pambansa complex in Quezon City.

Meanwhile, the Senate is housed in the Government Service Insurance System (GSIS) complex in Pasay City; but is expected to transfer to its new office in the BGC in July next year.

The government has allocated around P9 billion for the construction of the new Senate building.

Both chambers were previously housed at the Old Congress building along Padre Burgos Drive in Ermita, Manila, and which is now where the National Museum of Fine Arts is located. Samuel P. Medenilla

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The World BusinessMirror

Monday, December 11, 2023

China is hardening against dissent, rights groups say as they mark International Human Rights Day

By Sylvia Hui And Huizhong Wu The Associated Press

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ONDON—When her husband fled China in 2019 to escape a police crackdown on dissidents, Lu Lina thought she and their young son could soon join him in safety abroad.

She did not know that she would be forced to move house, that her 8-yearold son would be effectively kicked out of school and that border police would block her from leaving the country over the next three years. In the end, the couple had to resort to filing for divorce in China to get around the exit ban.

“After my husband left, police gave our lives so much trouble,” Lu said from Los Angeles, where the family eventually reunited and settled late last year. “Every time the border guards would stop me, take away my phone, my wallet and all my things. They gave no explanation.”

Lu’s husband, Liu Sifang, a musician and former teacher, was among a number of Chinese activists and rights lawyers who were either arrested, forced into hiding or self-exiled after attending an informal get-together in 2019 to discuss human rights.

Rights groups say the punishment of Liu’s family highlights Beijing’s increasingly harsh crackdown on dissent both within China and beyond. As the groups mark the 75th anniversary of the U.N. Universal Declaration of Human Rights on Sunday, they fear that the situation in the world’s second most populous country is getting worse, not better.

Wester n gover nments a re fa i ling to press China hard enough, the rights groups say, and a more powerful China under President Xi Jinping has become more impervious to interna-

tional pressure.

“If you look at independent activism around the time that Xi came to power, relative to what you can see now, what’s disturbingly clear is that Xi’s leadership sought to obliterate civil society and to silence dissent, not just inside the country but globally, to ensure that anybody who criticizes him and the regime has to think twice,” said Sophie Richardson, a longtime China observer and former China director at Human Rights Watch.

A new report by the Rome-based rights group Safeguard Defenders, published Sunday to mark International Human Rights Day, alleges that China’s government has stepped up its use of “collective punishment” against the loved ones of human rights advocates in recent years.

“Under Xi Jinping, China is increasingly unwilling to allow political targets to leave the country, slapping them and their families with exit bans, and using transnational repression methods to control the ones who make it out,” according to the report.

The report, based on interviews with more than a dozen rights activists and compiled media reports, said it identified at least 50 such cases from 2015 to 2022, including the detention, home eviction, harassment or violent assault of activists’ family members.

This year’s International Human Rights Day—marking 75 years since

European Commission President Ursula von der Leyen speaks during a press conference at the European Union Delegation to China compound after meeting with Chinese President Xi Jinping and Premier Li Qiang in Beijing on Thursday, December 7, 2023. AP Photo/Andy Wong

the United Nations adopted the global foundational document for protecting the rights of every individual everywhere—comes just days after EU leaders visited China for a fresh round of talks.

While the summit focused on trade and the Ukraine war, the EU said that the bloc also expressed its “deep concerns” about the rights situation in China. Both sides said they welcomed the resumption of their human rights dialogue earlier this year.

Wang Lutong, head of European affairs at the Chinese Foreign Ministry, said Beijing was willing to continue the dialogue—though he also warned that “human rights should not be used as a stick to beat China.”

Last week, Foreign Minister Wang Yi reiterated China’s longstanding defense against international criticism of its human rights record. Beijing opposes “any attempt to force one’s own values and model upon others,” he told a symposium.

“We must reject any attempt to interfere in other countries’ internal affairs or contain their development under the

pretext of human rights,” he said. “China has...opened a new path for human rights development that adapts to the changing times and suits our national conditions.”

Richardson, the China rights expert, said the EU-China rights dialogue falls far short of accomplishing real outcomes for dissidents.

“It’s what the political establishment prefers because it doesn’t upset Beijing too much,” she said. “It’s the deliverable that people can point at and say, ‘we did that.’”

In April, Chinese police detained Yu Wensheng, a human rights lawyer, and his wife Xu Yan as they were on their way to the European Union office in Beijing to meet with the EU ambassador.

The couple is facing charges of subversion of state power and “picking quarrels and stirring up troubles”—though they haven’t received any legal documents outlining the charges, according to Bao Longjun, a legal advocate familiar with the case.

Such vague charges are commonly leveled against rights activists in China, and rights groups have noted an increase this year in cases like Yu’s. He and his wife remain in detention.

Other Chinese rights advocates, such as disbarred human rights lawyer Wang Quanzhang, continue to face harassment from authorities even after they have been released from prison.

Liu, the dissident who fled to the United States, described how tough it was being separated from his wife and son for three years. The couple has now remarried in the US. “Those law-enforcement officials, they used such cruel methods to retaliate against me because I managed to get out,” he said. “They are showing people like us that this is what we can do to you and your family.” Wu reported from Bangkok.

Ken Moritsugu in Beijing also contributed.

300 Rohingya Muslims fleeing Myanmar arrive in Indonesia after weeks at sea

By Reza Saifullah & Edna Tarigan The Associated Press

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CEH BESAR, Indonesia—Two boats carrying more than 300 Rohingya Muslims, including emaciated women and children, arrived at Indonesia’s northernmost province of Aceh on Sunday morning after being adrift for over weeks.

One boat, which had been at sea for about one and a half months and carrying 135 passengers, arrived at a beach in Lamreh village in Aceh Besar Regency.

Shahidul Islam, a 34-year-old survivor, said they left their refugee camp in Bangladesh. “The boat was sinking. We had no food or water left.”

The other boat carrying nearly 180 people docked at a beach in Blang Raya village at

Pidie Regency. It has been adrift in the Andaman Sea without adequate supplies for about 27 days. Mahmud Husein, 25, a survivor, said he gave 40,000 taka ($363) to the boat owner to help him leave Bangaldesh.

“We came to Indonesia, but we want to go to other countries if other countries want to help us,” Husein said.

Another boat, carrying more refugees, embarked from Bangaldesh at the same time, Husein confirmed, but it remained missing.

The UN refugee agency warned that people onboard could die if more is not done to rescue them.

About 740,000 Rohingya Muslims have fled Buddhist-majority Myanmar to camps in Bangladesh since August 2017, following a brutal counterinsurgency campaign.

Myanmar security forces have been accused

of mass rapes, killings and the burning of thousands of Rohingya homes, and international courts are considering whether their actions constitute genocide.

Since November, more than 1,500 Rohingya refugees have arrived by boat in Indonesia’s Aceh province. Some were denied landing by the residents in Aceh Utara district and Sabang Island, sparking concerns from human rights organizations.

Rijalul Fitri, head of Blang Raya village in Aceh, said Sunday they do not want them in their village. “We stayed up all night so as not to allow them to dock, but at 2.30 a.m., they arrived,” he said.

Fitri was adamant about the refugees’ relocation, saying, “they can’t stay here.”

President Joko Widodo on Friday said in a statement that Indonesia’s government sus-

pects a surge in human trafficking because of the increasing number of Rohingya Muslims that have entered the country over the past few weeks, especially in Aceh.

Police in the city of Lohkseumawe— where there is a camp for Rohingya Muslim refugees—arrested three Aceh residents for human trafficking. They are charged with taking money, 1.8 million rupiah ($115) to smuggle 30 refugees from the camp to the city of Medan in North Sumatra province, said Henki Ismanto, the Lhokseumawe police chief.

Most of the refugees leaving by sea attempt to reach Muslim-majority Malaysia, in search of work. Indonesia, where Muslims comprise nearly 90 percent of the country’s 277 million people, has been detaining them. Tarigan reported from Jakarta, Indonesia.

Bangladesh opposition party holds protest as it boycotts Jan. 7 national election amid violence

By Julhas Alam | The Associated Press

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HAKA, Bangladesh—Hundreds of opposition Bangladesh Nationalist Party supporters protested Sunday to mark International Human Rights Day, as the country gears up for a general election on Jan. 7 that the opposition says should be held under a non-partisan, caretaker government.

The party, led by former Prime Minister Khaleda Zia, is boycotting the election, leaving voters in the South Asian nation of 166 million with little choice but to re-elect Prime Minister Sheikh Hasina’s Awami League for a fourth consecutive term At Sunday’s protest in front of the National Press Club in downtown Dhaka, opposition activists said they do not think a fair and free election can take place under Hasina’s watch. The gathering took place weeks after a massive opposition rally on Oct. 28 turned violent.

The party’s decision to boycott the polls comes amid a monthslong crackdown that has reportedly seen hundreds of opposition politicians jailed and critics silenced, an al-

legation authorities have denied.

Demonstrators on Sunday carried banners that read “Human chain of family members of the victims of murder and enforced disappearances” and “We want the unconditional release of all prisoners.”

After the Oct. 28 rally, authorities arrested thousands of party leaders and activists including Secretary General Mirza Fakhrul Islam Alamgir. Many others have gone into hiding, and hundreds have been convicted by courts on charges of violence or subversive acts that the opposition says are politically motivated.

New York-based Human Rights Watch in a report last month put the number of arrested opposition activists at 10,000 since Oct. 28 and said that at least 16 people including two police officers died during the period of violence.

Ruhul Kabir Rizvi, joint secretary general of Zia’s party, told a video conference from hiding that the government has arrested or punished political leaders and activists under fictitious charges to ensure a lopsided election result.

He urged the people to boycott “the stage-

managed election” that he said would deepen the country’s political crisis and push it toward danger.

“The upcoming one-sided election is not just a renewal of Sheikh Hasina’s power, but a license to destroy Bangladesh,” he said.

While critics have slammed the election as a farce, the government has rejected allegations of a crackdown on the opposition and says the polls will be democratically held and inclusive.

“Our stand is very clear. Those who are involved in acts of sabotage or arson attacks, those who attacked police and killed them, are being dealt with on specific charges. We clearly reject the claim that there has been any crackdown against the opposition party,” Mohammad A. Arafat, a ruling party lawmaker and member of the International Affairs Committee, told The Associated Press.

“It has no relation with the election. It’s a constitutional mandate to hold the election on time. It’s a matter of their choice to join the polls. But they are resorting to violence in the name of protests, rather than joining the race,” he said.

The election will be the country’s 12th

after it gained independence from Pakistan in 1971.

In the 2008 election, the main challenger BNP and its allies won more than 40% of the vote, but lost to Awami League, which got an absolute majority. Subsequent elections took place in 2014 — which Zia’s party boycotted — and again in 2018 under Hasina’s administration, but the opposition rejected the results, saying the election was rigged.

Hasina rejected the allegations.

This time again, while candidates from 29 out of 44 registered political parties have filed nominations, no one from Zia’s party is contesting the polls. After a review, the country’s Election Commission accepted 1,985 nominations and rejected 731 for a total of 300 constituencies.

Media reports say many independent candidates belong to the ruling Awami League party, which has encouraged them to contest the election to make it look competitive.

The events have drawn concern from observers at home and abroad over the health of democracy in Bangladesh, even as it transforms into an economic success story under Hasina.

Editor: Angel R. Calso

HK holds first council polls under new rules that shut out pro-democracy bets

By Kanis Leung The Associated Press

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ONG KONG—Residents went to the polls on Sunday in Hong Kong’s first district council elections since an electoral overhaul was implemented under Beijing’s guidance of “patriots” administering the city, effectively shutting out all pro-democracy candidates.

Turnout is expected to be much lower than in the last elections, held at the height of the 2019 antigovernment protests. Some pro-democracy voters, dismayed by the drastic rule changes, including the elimination of most directly elected seats, are turning their backs on the polls.

The final turnout will be a barometer of public sentiment toward the “patriots”-only system, the new political order under the Hong Kong government’s crackdown on dissidents following the 2019 protests—the most concerted challenge to Beijing since the former British colony returned to China’s rule in 1997.

China promised the semi-autonomous territory could retain its Western-style liberties for 50 years under the “one country, two systems” framework. But that promise has become increasingly threadbare after Beijing imposed a national security law that led to the arrest and silencing of many pro-democracy activists.

In 2021, the city amended its electoral laws for its legislature, drastically reducing the public’s ability to vote and increasing the number of pro-Beijing lawmakers making decisions for the city. After the changes, the turnout rate plunged from 58 percent to 30 percent in a legislative election that year.

The district councils, which primarily handle municipal matters such as organizing construction projects and public facilities, were the last major political bodies mostly chosen by the public.

The elections four years ago held symbolic importance in the anti-government movement, with a record turnout rate of 71 percent. The pro-democracy camp’s landslide victory acted as a rebuke to the government’s handling of the 2019 protests. But an amendment passed in July slashed the proportion of directly elected seats from some 90 percent to about 20 percent—a level even lower than when the bodies were first introduced in the 1980s under British rule. A new nomination requirement has effectively resulted in the exclusion of pro-democracy candidates from the elections for the first time in about four decades.

At a polling station in the residential district of Wong Tai Sin on Sunday morning, about 30 people stood in line outside the center waiting for the doors to open at 8:30 am. More than 10,000 police officers were deployed across the city to ensure the elections would be conducted in a safe and orderly manner.

Housewife Ivy Sze, 37, said the overhaul did not shake her confidence in the electoral system. But she said she felt there were fewer voters in the morning than in previous elections.

“There used to be a long queue outside,” she said, holding a thank-you card from the government, part of what officials called a “heartwarming” gesture for those who voted.

But university student Timothy Cheung, 21, decided not to vote following the rule changes, saying his peers also intended to abstain from the polls.

“It’s useless even if I vote. All candidates are leaning to one side,” he said, referring to their pro-government backgrounds.

Government officials have downplayed the significance of the turnout rate as a measure of the overhaul’s success. On Friday, Secretary for Constitutional and Mainland Affairs Erick Tsang said not voting doesn’t necessarily imply opposition to the elections, adding one’s non-participation could be due to other reasons.

Still, Hong Kong leader John Lee and his administration have stepped up efforts to drum up support for the polls. The government held various promotional activities, including carnivals, an outdoor concert and free admission to some museums.

The city’s prominent airline, Cathay Pacific, also offered dicount airfares for passengers traveling back from mainland China to Hong Kong, saying it wanted to help residents “actively participate” in the polls.

Lee earlier this month said civil servants have a responsibility to support the government to implement its policies, urging them to lead by example and vote. He and his wife went to a polling station to vote on Sunday morning and described the elections as the “last piece of the puzzle” to implement the principle of “patriots” administering the city.

“The elected councilors will serve the interests of Hong Kong.

They won’t betray the interests of Hong Kong and the interests of the country,” he said.

Members of the League of Social Democrats, one of the city’s remaining pro-democracy political parties, had planned to stage a small protest against Lee to express their discontent over the electoral rule changes. But the police arrested their members after being stopped and searched in Central, the group said.

The police said three people were arrested on suspicion of intending to incite others to disrupt the elections, but did not provide names.

The World BusinessMirror

www.businessmirror.com.ph

Monday, December 11, 2023 A7

Israel presses on with Gaza offensive after US veto derails Security Council efforts to halt war

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By Wafaa Shurafa & Bassem Mroue The Associated Press

EIR AL-BALAH, Gaza Strip— Israel’s military pushed ahead with its punishing air and ground offensive in Gaza on Saturday, bolstered by a US veto derailing U.N. Security Council efforts to end the war and word that an emergency sale of $106 million worth of tank ammunition had been approved by Washington.

Unable to leave Gaza, a territory 25 miles (40 kilometers) long by about 7 miles (11 kilometers) wide, more than 2 million Palestinians faced more bombardment Saturday, even in areas that Israel had described as safe zones.

T he sa le of nea rly 14,0 0 0 rounds of tank ammunition was announced a day after the US vetoed a U.N. Security Council resolution demanding an immediate cease-fire in Gaza, a measure that had wide international support.

The US said Secretary of State Antony Blinken determined that “an emergency exists” in the national interest requiring the immediate sale, meaning it bypasses congressional review. Such a determination is rare.

A day after Israel confirmed it was rounding up Palestinian men for interrogation, some men released Saturday told The Associated Press they had been treated badly, providing the first accounts of the conditions from the detentions.

Osama Oula said Israeli troops had pulled men out of a building in the Shujaiyah area of Gaza City, ordering them to the street in their underwear. Oula said Israeli forces bound him and others with zip ties, beat them for several days and gave them little water to drink.

Ahmad Nimr Salman showed his hands, marked and swollen from the zip ties, and said older men with diabetes or high blood pressure were ignored when they asked soldiers to remove their ties.

He said the troops asked, “’Are you with Hamas?’ We say ‘no,’ then they would slap us or kick us.” He

said his 17-year-old son Amjad is still held by the troops.

The group was released after five days and told to walk south.

Ten freed detainees arrived at a hospital in Deir al-Balah on Saturday after flagging down an ambulance.

T h e I s r a e l i m i l it a r y h a d no immediate comment when asked about the alleged abuse.

With the war in its third month, the Palestinian death toll in Gaza has surpassed 17,700, the majority women and children, according to the Health Ministry in the Hamascontrolled territory. The ministry does not differentiate between civilian and combatant deaths.

Two hospitals in central and southern Gaza received the bodies of 133 people from Israeli bombings over the past 24 hours, the Health Ministry said midday Saturday.

Israel holds the Hamas militants responsible for civilian casualties, accusing them of using civilians as human shields, and says it has made considerable efforts with evacuation orders to get civilians out of harm’s way.

It says 97 Israeli soldiers have died in the ground offensive after Hamas raided southern Israel on October 7, killing about 1,200 people, mostly civilians, and taking about 240 hostages.

Hamas said Saturday that it continued its rocket fire into Israel.

In Gaza, residents reported airstrikes and shelling, including in the southern city of Rafah near the Egyptian border—one area where the Israeli army had told civilians to go. In a colorful classroom there,

Israeli soldiers patrol as the smoke rises from the Gaza Strip after Israeli strikes on Saturday, December 9, 2023. AP Photo/Leo Correa

knee-high children’s tables were strewn with rubble.

“We now live in the Gaza Strip and are governed by the American law of the jungle. America has killed human rights,” said Rafah resident Abu Yasser al-Khatib.

In northern Gaza, Israel has been trying to secure the military’s hold, despite heavy resistance from Hamas. The military said that it found weapons inside a school in Shujaiyah, a densely populated neighborhood of Gaza City, and that, in a separate incident, militants shot at troops from a UNrun school in the northern town of Beit Hanoun.

More than 2,500 Palestinians have been killed since the Dec. 1 collapse of a weeklong truce, about two-thirds of them women and children, according to Gaza’s Health Ministry.

The truce saw hostages and Palestinian prisoners released, but Israel says 137 hostages remain in Gaza.

On Saturday, a kibbutz that came under attack on October 7 said 25-year-old hostage Sahar Baruch had died in captivity. His captors said Baruch was killed during a failed rescue mission by Israeli forces Friday.

The Israeli military said Hamas killed him.

With no new cease-fire in sight and humanitarian aid reaching little of Gaza, residents reported severe food shortages. Nine of 10 people in northern Gaza reported spending at least one full day and night without food, according to a World Food Program assessment during the truce. Two of three people in the south said the same. The

Ukraine says any Russian presidential voting in occupied regions would be ‘null and void’

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Y I V, U k raine—U kraine on Saturday condemned Russia’s intention to organize presidential election voting in occupied Ukrainian territory next year.

The Ukrainian Foreign Ministry said any such balloting held in the occupied regions in the country would be “null and void” and pledged that any international observers sent to monitor the Russian election would “face criminal responsibility.”

“We call on the international community to resolutely condemn Russia’s intention to hold presidential elections in the occupied Ukrainian territories, and to impose sanctions on those involved in their organization and conduct,” Ukraine’s Foreign Ministry said.

Lawmakers in Russia on Thursday set the country’s 2024 presidential election for March 17. On Friday, Russian President Vladimir Putin announced his candidacy for reelection. He is all but certain to win another six-year term.

Russian authorities are still

Russian President Vladimir Putin leads a meeting at the Novo-Ogaryovo State residence outside Moscow, Russia on October 16, 2023.

Vladimir Putin on Friday, December 8, 2023, moved to prolong his repressive and unyielding grip on Russia for another six years, announcing his candidacy in the 2024 presidential election that he is all but certain to win.

Gavriil Grigorov, Sputnik, Kremlin Pool Photo via AP

pondering whether to arrange the voting in Ukraine’s Donetsk, Luhansk, Zaporizhzhia and Kherson regions. Moscow illegally annexed the four regions in September 2022 but only controls parts of them.

Putin subsequently introduced martial law in those areas, and Russi a n l aw ma kers a mended regulations to allow elections in territories where martial law was

in place. Russian authorities held elections in the annexed regions in September for Moscow-installed legislatures; Ukraine and its Western allies denounced the votes as a sham.

The head of Russia’s Central Election Commission, Ella Pamfilova, said Thursday that together with the Russian military, security forces and the Moscow-appointed governors in Ukraine, election authorities would decide by December 12 on “the possibility of holding” the presidential vote in the Ukrainian regions.

“After weighting in all pros and cons, we will be making this decision. If we decide (to hold the vote), then the next step would be to adopt a plan for holding elections there,” Pamfilova was quoted by the Interfax news agency as saying. “Of course, it will be somewhat different from the balloting in Russian regions, the law allows for it.”

Russia does plan to hold the presidential election in the Crimean Peninsula, which it illegally annexed from Ukraine in 2014. AP

WFP called the situation “alarming.”

“I am very hungry,” said Mustafa al-Najjar, sheltering in a UNrun school in the devastated Jabaliya refugee camp in the north.

“We are living on canned food and biscuits and this is not sufficient.”

While adults can cope, “it’s extremely difficult and painful when you see your young son or daughter crying because they are hungry,” he said.

Israelis who had been taken hostage also saw the food situation deteriorate, the recently freed Adina Moshe told a rally of thousands of people in Tel Aviv seeking the rapid return of all. “We ended up eating only rice,” said Moshe, who was held for 49 days.

The rally speakers accused Israel’s

government of not doing enough to bring loved ones home. “How can I sleep at night? How can I protect my daughter?” asked Eli Albag, the father of 18-year-old hostage Liri Albag.

On Saturday, 100 trucks carrying unspecified aid entered Gaza through the Rafah crossing with Egypt, said Wael Abu Omar, a spokesman for the Palestinian Crossings Authority. That is still well below the daily average before the war.

Despite growing international pressure, President Joe Biden’s administration remains opposed to an open-ended cease-fire, arguing it would enable Hamas to continue posing a threat to Israel.

Israeli Defense Minister Yoav Gallant has argued that “a cease-fire is handing a prize to Hamas.”

Blinken continued to speak with counterparts from Saudi Arabia, Turkey and elsewhere amid open criticism of the US stance.

“From now on, humanity won’t think the USA supports the Universal Declaration of Human Rights,” Turkish President Recep Tayyip Erdogan said in a speech.

Protesters at the COP28 climate summit in Dubai called for a ceasefire, despite restrictions on demonstrations.

Amid concerns about a wider conflict, Iran-backed Houthi rebels in Yemen threatened to prevent any ship heading to Israeli ports from passing through the Red Sea and Arabian Sea until food and medicine can enter

Gaza freely. Spokesman Brig. Gen. Yahya Saree said in a speech that all ships heading to Israel, no matter their nationality, will be a target.

The French navy said the frigate Languedoc in the Red Sea shot down two drones Saturday night coming “straight toward it” from a Houthiheld port city. The statement did not say whether the French navy assessed its frigate was the target of the drones.

Meanwhile, Lebanon’s militant Hezbollah group claimed responsibility for nine attacks on Saturday, saying one targeted an Israeli post near the town of Metula. The Israeli army said one of its fighter jets struck a Hezbollah operational command center in Lebanon. The UN peacekeeping force in southern Lebanon said the tower of one of its bases along the border with Israel was hit during the skirmishes, with no injuries.

In southern Gaza, thousands were on the run after what residents called a night of heavy gunfire and shelling.

Israel has designated a narrow patch of barren southern coastline, Muwasi, as a safe zone. But Palestinians described desperately overcrowded conditions with scant shelter and no toilets. They faced an overnight temperature of around 11 degrees Celsius (52 degrees Fahrenheit).

Mroue reported from Beirut. Associated Press writers Julia Frankel in Jerusalem; Samy Magdy in Cairo; Matthew Lee in Washington; Andrew Wilks in Istanbul; and Cara Anna in Albany, New York, contributed to this report.

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The World BusinessMirror

Monday, December 11, 2023

Protests at COP28 talks, from cease-fire calls to detainees, see ‘shocking level of censorship’

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By Jon Gambrell The Associated Press

cry out their grievances, even if they sounded like a cacophony of concerns ranging from climate change, the war or Indigenous rights.

“It’s essential to remind negotiators what they are negotiating about,” Hamilton said.

“It’s trying to remind people to care about people you’ll never meet.”

Despite the restrictions, activists protesting for a cease-fire in Gaza called the action historic due to its size.

“I don’t want to look back one day where a Palestinian can’t remember what their history and their culture used to look like, because that’s exactly what happened to us in Mexico,” climate activist Isavela Lopez said. “I’m here to say to end with the colonial powers and with the white supremacy.”

M a ny c l i m ate ac t iv i st s poi nt to t he same causes for today’s climate crisis.

Typically, COP summits see mass demonstrations of tens of thousands of people outside of the Blue Zone. But given the UAE’s rules, the only place where activists can protest is inside that UN-controlled space, which has its own tight restrictions on speech.

Just before the demonstration about the detained activists, organized by Amnesty International and Human Rights Watch, protesters had to fold over signs bearing the names of the detainees—even after they already had crossed out messages about them.

The order came roughly 10 minutes before the protest was due to start from the UN, which said it could not guarantee the security of the demonstration, Shea said.

While speaking during the protest, Shea also had to avoid naming the Emirates and Egypt as part of the UN’s rules.

N

Activists, including Eric Njuguna of Kenya, center, demonstrate for climate justice and a ceasefire in the Israel-Hamas war at the COP28 UN Climate Summit on Saturday, December 9, 2023, in Dubai, United Arab Emirates. AP Photo/Rafiq Maqbool “The absurdity of what happened at this action today speaks volumes,” she said.

The Emirati government, in response to questions from the AP about the detainees protest, said it “does not comment on individual cases following judicial sentences.”

“In the spirit of inclusivity, peaceful assemblies in designated areas have been and continue to be welcomed,” the statement said. “We remain dedicated to fostering dialogue and understanding as we work together at COP28 to deliver impactful solutions for accelerating climate action.”

Demonstrators carried signs bearing the image of Emirati activist Ahmed Mansoor and Egyptian pro-democracy activist Alaa Abdel-Fattah.

Mansoor, the recipient of the Martin Ennals Award for Human Rights Defenders in 2015, repeatedly drew the ire of authorities in the United Arab Emirates by calling for a free press and democratic freedoms in the autocratic federation of seven sheikhdoms.

He was targeted with Israeli spyware on his iPhone in 2016 likely deployed by the Emirati government ahead of his 2017 arrest and sentencing to 10 years in prison over his activism.

Abdel-Fattah, who rose to prominence during the 2011 pro-democracy Arab Spring uprisings, became a central focus of demonstrators during last year’s COP27 in Sharm el-Sheikh, Egypt, as he had stopped eating and drinking water to protest his detention.

He has spent most of the past decade in prison because of his criticism of Egypt’s rulers.

Since 2013, Egyptian President AbdelFattah el-Sissi’s government has cracked down on dissidents and critics, jailing thousands, virtually banning protests and monitoring social media. El-Sissi has not released Abdel-Fattah despite him receiving British citizenship while imprisoned and interventions on his behalf from world leaders, including US President Joe Biden.

Demonstrators also held up the image of Moha med a l- Sidd iq, a not her Emirati detained as part of the crackdown.

The detainees’ protest had been scheduled to take place days earlier, but negotiations with UN officials dragged on—likely due to the sensitivity of even mentioning the detainees’ names in the country.

Meanwhile, protesters briefly staged a sit-in at Opec’s stand over a leaked letter reportedly calling on cartel member states to reject any attempt to include a phase-down of fossil fuels in any text at the summit.

“It’s like having, you know, a convention on fighting the tobacco industry and having the tobacco industry present in a negotiation. That is not okay,” campaigner Nicholas Haeringer said. “It’s like having a fox in the henhouse. And to be honest with you guys, I think at some point we will run out of analogies before these guys run out of oil.” Associated Press journalists Peter Dejong, Lujain Jo and Malak Harb contributed to this report.

New US aid for Ukraine seems increasingly out of reach as GOP ties it to border security

By Stephen Groves & Lisa Mascaro The Associated Press

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ASHINGTON—A deal to provide further US assistance to Ukraine by year-end appears to be increasingly out of reach for President Joe Biden. The impasse is deepening in Congress despite dire warnings from the White House about the consequences of inaction as Republicans insist on pairing the aid with changes to America’s immigration and border policies.

After the Democratic president said this past week he was willing to “make significant compromises on the border,” Republicans quickly revived demands that they had earlier set aside, hardening their positions and attempting to shift the negotiations to the right, according to a person familiar with the talks who was not authorized to publicly discuss them and spoke on condition of anonymity.

The latest proposal, from the lead GOP negotiator, Sen. James Lankford, R-Okla., came during a meeting with a core group of senators before they left Washington on Thursday afternoon. It could force the White House to consider ideas that many Democrats will seriously oppose, throwing new obstacles in the difficult negotiations.

Biden is facing the prospect of a cornerstone of his foreign policy—repelling Russian President Vladimir Putin from overtaking Ukraine—crumbling as US support for funding the war wanes, especially among Republicans. The White House says a failure to approve more aid by year’s end could have catastrophic consequences for Ukraine and its ability to fight.

To preserve US backing, the Biden administration has quietly engaged in Senate talks on border policy in recent weeks, providing

assistance to the small group of senators trying to reach a deal and communicating what policy changes it would find acceptable.

The president is trying to satisfy GOP demands to reduce the historic number of migrants arriving at the US-Mexico border while alleviating Democrats’ fears that legal immigration will be choked off with drastic measures.

As talks sputtered to a restart this past week, Democrats war ned Republicans that time for a deal was running short.

Congress is scheduled to depart Washington in mid-December for a holiday break.

“Republicans need to show they are serious about reaching a compromise, not just throwing on the floor basically Donald Trump’s border policies,” Senate Majority Leader Chuck Schumer, D-N.Y., said Thursday before Republicans made their counteroffer.

But the new Republican proposal dug in on policy changes that had led Democrats to step back from the negotiations, according to the person familiar with the talks. The GOP offer calls for ending the humanitarian parole program that’s now in place for existing classes of migrants—Ukrainians, Afghans, Cubans, Venezuelans, Nicaraguans and Haitians. That idea had been all but dashed before.

Additionally, those groups of migrants would not be allowed to be paroled again if the terms of their stay expire before their cases are adjudicated in immigration proceedings.

GOP senators proposed monitoring systems such as ankle bracelets for people, including children, who are detained at the border and are awaiting parole. Republicans want to ban people from applying for asylum if they have transited through a different country where they could have sought asylum instead.

GOP lawmakers also want to revive execu-

6 dead, 2-dozen injured after severe storms tear through central Tennessee

By Kimberlee Kruesi

UBAI, United Arab Emirates—Activists designated Saturday a day of protest at the COP28 summit in Dubai. But the rules of the game in the tightly controlled United Arab Emirates at the site supervised by the United Nations meant sharp restrictions on what demonstrators could say, where they could walk and what their signs could portray.

At times, the controls bordered on the absurd. A small group of demonstrators protesting the detention of activists—one from Egypt and two from the UAE—was not allowed to hold up signs bearing their names. A late afternoon demonstration of around 500 people, the largest seen at the climate conference, couldn’t go beyond the U.N.-governed Blue Zone in this autocratic nation. And their calls for a cease-fire in the Israel-Hamas war in the Gaza Strip couldn’t name the parties involved.

“It is a shocking level of censorship in a space that had been guaranteed to have basic freedoms protected like freedom of expression, assembly and association,” Joey Shea, a researcher at Human Rights Watch focused on the Emirates, told The Associated Press after their restricted demonstration.

Pro-Palestinian protesters who were calling for a cease-fire and climate justice were told they could not say “from the river to the sea,” a slogan prohibited by the U.N. over the days of COP28.

In the aftermath of a brutal Hamas attack on Israel in October and the subsequent Israeli bombing and ground offensive in the Gaza Strip, that phrase has been used at pro-Palestinian rallies to call for single state on the land between the Jordan River and the Mediterranean. Some Jews hear a clear demand for Israel’s destruction in the call.

Protesters got around rules banning national flags by instead wearing keffiyeh scarves and holding signs depicting watermelons to show their support for the Palestinians.

Protestor Dylan Hamilton of Scotland said it remained important for demonstrators to

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tive powers that would allow a president to shut down entries for wide-ranging reasons.

Further, after migrant encounters at the border recently hit historic numbers, the GOP proposal would set new guidelines requiring the border to be essentially shut down if illegal crossings reach a certain limit.

Lankford declined to discuss specifics after the Thursday meeting, but said he was trying to “negotiate in good faith.” He said the historic number of migrants at the border could not be ignored. The sheer number of people arriving at the border has swamped the asylum system, he said, making it impossible for authorities to adequately screen the people they allow in.

“Do you want large numbers of undocumented individuals and unscreened individuals without work permits, without access to the rest of the economy?” Lankford said.

The lead Democratic negotiator, Connecticut Sen. Chris Murphy, did not quickly respond to the GOP proposal.Senators had made some progress in the talks before Thursday, finding general agreement on raising the initial standard for migrants to enter the asylum system—part of what’s called the credible fear system. The administration has communicated that it is amenable to that change and that it could agree to expand expedited removal to deport immigrants before they have a hearing with an immigration judge, according to two people briefed on the private negotiations who spoke on the condition of anonymity.

Immigration advocates and progressives in Congress have been alarmed by the direction of the talks, especially because they have not featured changes aimed at expanding legal immigration.

Robyn Barnard, director of refugee advocacy with Human Rights First, called the current state of negotiations an “absolute

crisis moment.” She warned that broadening the fast-track deportation authority could lead to a mass rounding up of immigrants around the country and compared it to the situation during the Trump administration. “Communities across the country would be living in fear,” she said.

But Republican senators, sensing that Biden, who is campaigning for a second term, wants to address the historic number of people coming to the border, have taken an aggressive stance and tried to draw the president directly into negotiations.

“The White House is going to have to engage particularly if Senate Democrats are unwilling to do what we are suggesting be done,” said Sen. John Thune, R-S.D., at a news conference Thursday.

The White House has so far declined to take a leading role in negotiations. “Democrats have said that they want to compromise. Have that conversation,” said White House press secretary Karine-Jean Pierre.

After every GOP senator this past week voted not to move ahead with legislation that would provide tens of billions of dollars in military and economic assistance for Ukraine, many in the chamber were left in a dour mood. Even those who held out hope for a deal acknowledged it would be difficult to push a package through the Senate at this late stage.

Even if senators reach a deal, the obstacles to passage in the House are considerable. Speaker Mike Johnson, R-La., has signaled he will fight for sweeping changes to immigration policy that go beyond what is being discussed in the Senate. Also, broad support from House Democrats is far from guaranteed, as progressives and Hispanic lawmakers have raised alarm at curtailing access to asylum. Associated Press writers Rebecca Santana and Seung Min Kim contributed to this report.

ASHVILLE, Tenn.—Severe storms that tore through central Tennessee killed six people Saturday and sent about two-dozen to the hospital as homes and businesses were damaged in multiple cities.

Three people, including a child, were killed after an apparent tornado struck Montgomery County north of Nashville near the Kentucky state line, county officials said in a news release. And the Nashville Emergency Operation Center said in a post on a social media account that three people were killed by severe storms in a neighborhood just north of downtown.

Meanwhile, another 23 people were treated for injuries at hospitals in Montgomery County.

Photos posted by the Clarksville fire department on social media showed damaged houses with debris strewn in the lawns, a tractor trailer flipped on its side on a highway and insulation ripped out of building walls.

“This is devastating news and our hearts are broken for the families of those who lost loved ones,” said Clarksville Mayor Joe Pitts in a statement. “The city stands ready to help them in their time of grief.”

The Metropolitan Nashville Police Department identified the victims killed north of downtown as Joseph Dalton, 37; Floridema Gabriel Perez, 31, and her son, Anthony Elmer Mendez, 2. Dalton was inside his mobile home when the storm tossed it on top of Perez’s residence. Two other children, one in each home, were taken to a hospital with non-life threatening injuries, the department said in a statement.

No further information about the other three deaths was immediately available Saturday night.

The Montgomery County Sheriff ’s Office said in a statement that a tornado touched down around 2 p.m. A shelter was set up at a local high school.

Residents were asked to stay at home while first responders evaluated the situation. In a briefing shared on social media, Pitts said there was extensive damage.

“So please, if you need help, call 911 and help will be on the way immediately. But if you can, please stay home. Do not get out on the roads. Our first responders need time and space,” he said.

Tennessee Gov. Bill Lee said he and his wife, Maria, were praying for all Tennesseans who had been affected by the storms.

“We mourn the lives lost and ask that everyone continue to follow guidance from local and state officials,” Lee said in a statement.

Shanika Washington said that as soon as she heard the storm sirens going off in her Clarksville neighborhood, she took her children, ages 5 and 10, to a windowless bathroom in the basement of her townhouse.

“The lights were flickering, so I knew it was somewhere close in the vicinity,” she said. “I just kept praying to God as it was going on. It was very terrifying and scary.”

During their 20 harrowing minutes in the bathroom, Washington hovered over her children as a protective shield.

“The back door absolutely did fly open, and you just heard a bunch of wind,” she said. “The blinds and stuff were like shaking really bad. I could tell that we were dead smack in the middle of a storm.”

When she came out of the bathroom, she looked out of a window and saw the destruction: Debris swept onto cars that had their windows broken out.

Shutters ripped from homes. Some roofs were ripped off townhouses. Air conditioning units and backyard grills were tossed like toys, and wooden dividers between townhouses were missing.

Because the power in the area was out, Washington took her children to a hotel for the night.

“I’m still shaken up a little bit, so I probably won’t get much sleep tonight,” Washington said. “I’m still trying to just kind of like process it all.”

Allie Phillips, who lives in Clarksville, said she was grabbing lunch when she began receiving notifications that a tornado was quickly approaching her neighborhood.

“It was excruciating watching the live stream and not knowing if my house was still there,” she said.

“When we finally decided to leave, the road to my home was shut down because so many power lines were on the road and we had to take a detour.”

Phillips said her home survived with minimal damage—noting that her daughter’s toys were banged up and that a neighbor’s dog kennel hit the back of her home—but she was saddened to see that her neighbor’s house was missing a roof and a home up the block had all but completely disappeared.

The National Weather Service issued multiple tornado warnings in Tennessee, and said it planned to survey an area where an apparent tornado hit in Kentucky.

More than 80,000 electricity customers were without power in Tennessee on Saturday night, according to PowerOutage.us.

The storm came nearly two years to the day after the National Weather Service recorded 41 tornadoes through a handful of states, including 16 in Tennessee and eight in Kentucky. A total of 81 people died in Kentucky alone. Raby reported from Charleston, West Virginia / AP.

Monday, December 11, 2023

www.businessmirror.com.ph • Editor: Jennifer A. Ng

A9

‘PHL converts 600K hectares of irrigated lands’

By Cai U. Ordinario

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@caiordinario

ore than 600,000 hectares of irrigated lands were converted in the past decade, according to the latest data from the Philippine Statistics Authority (PSA).

Figures from the PSA showed a total of 620,399.48 hectares were converted from 2012 to 2022, or average of 62,040 hectares annually.

In the past three years, land conversion increased to over 60,000 hectares annually in the 20202022 period.

The largest number of lands

converted in past decade was recorded in 2022 at 64,068.12 hectares while the smallest number was recorded in 2015 at 49,767.66 hectares.

Based on the data, most of these converted lands were National Irrigation Systems (NIS) reaching a total of 468,468.43 hectares fol-

A farmer in Arayat, Pampanga, is plowing his rice field in preparation for the second cropping season in this BusinessMirror file photo.

lowed by Communal Irrigation Systems (CIS) at 151,176.91 hectares.

The largest number of NIS lands converted was in 2021 when it reached 46,268.61 hectares

while the smallest was in 2012 at 40,523.5 hectares.

Among regions, the largest conversions occured in Central Luzon, the rice granary of the Philippines.

DA keen on scheme that will boost farmgate prices of sugar

By Jasper Emmanuel Y. Arcalas @jearcalas

T

he Department of Agriculture (DA) is planning to implement a buy-andsell scheme that seeks to raise the farmgate prices of sugar and pull down retail prices.

Agriculture Secretary Francisco Tiu Laurel Jr. said the DA is crafting a plan that would utilize government funds to buy sugar from farmers at higher farmgate prices and sell the same stocks to consumers at lower prevailing market prices.

Laurel said, however, that the plan requires clearance from President Marcos Jr. The DA aims to start the buy-and-sell program

by January.

He said this is the response of the DA to the continuous drop in farmgate prices of sugar despite the elevated retail prices of the sweetener. He noted that “somewhere down the sugar value chain, somebody is profiteering.”

“Sugar prices are high at the retail [level] but farmgate prices are declining—it’s now P2,550 [per 50-kilogram bag]. There’s an intervention that we are planning to do with the clearance of the President wherein we will have some funds that will be used

by GOCCs [government-owned and -controlled corporations] to buy sugar from the farmers at a higher price then we will sell it at lower price, which will hap-

pen hopefully by Januar y,” he said recently.

Last month, Laurel vowed that the DA would undertake certain interventions to address the “price disparity” of sugar in the market.

The United Federation of Sugar Producers (Unifed) on Sunday urged the government to do “much needed intervention” to prevent sugar prices, at the farmgate level, from plunging.

Unifed said the prevailing farmgate price for raw sugar has now dropped below the “comfortable profit margin” for sugar producers, especially for smallscale farmers.

The group said sugar prices continue to plummet and are now

averaging P2,500 in the past two weeks in Negros and are even lower at P2,300 in Bukidnon, way below the P3,200 recorded in the same period last year.

“This is very disconcerting because mill gate prices are now at P50 per kilo which is way lower than our production costs. Moreover, retail prices continue to remain at P80-P85 per kilo and the farmers are clearly not profiting from the local market prices,” UNIFED President Manuel Lamata said.

“Furthermore, fuel and fertilizer prices are also on the rise and if this continues, we cannot sustain the situation and farmers may not be inclined to produce for next year’s milling season.”

Govt turns over ₧398.5-M farm equipment to N. Ecija planters

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he Department of Agriculture, through the Philippine Center for Postharvest Development and Mechanization (DAPhilMech) turned over last Thursday P398.5 million worth of agricultural machinery and postharvest facilities to the province of Nueva Ecija.

Agriculture Secretary Francisco Tiu Laurel Jr. led the distribution of 125 units of machinery to 88 qualified farmers’ cooperative and association (FCA) under the Rice Competitiveness Enhancement Fund (RCEF) at the PhilMech center located at the Science City of Munoz.

“Pakiusap ko po na ingatan

at alagaan ninyo ang mga makinaryang ito. Bagaman ito ay libre, nararapat pa rin na gamitin natin ito ng may pagpapahalaga at pag-iingat,” Laurel said.

“Kung kailangan nang dumaan sa maintenance, huwag nawa natin itong pababayaan upang mas matagal pa at mas marami pa ang makagamit nito.”

Laurel said he is hoping that the machinery awarded will be the key to harmonious relationship between farmers and the government.

“Maging susi rin nawa ito ng pagkakasundo-sundo at hindi pagkaka-watakwatak ng samahan. Gawin po nating nagkakaisa ang ating mga samahan habang tayo

rin ay nakikipag-isa sa mga magagandang hangarin ng ating gobyerno para sa inyo at sa ating mga kababayan,” he said.

The farm machines include five units of four-wheel tractors, 22 units of hand tractors, nine units of walk-behind transplanters, 21 units of riding type transplanter, four units of precision seeders, 22 units of rice combine harvesters, nine units of single-pass rice mills; 13 units of six-ton recirculating dryers, 13 units of twelve-ton recirculating dryers, four units of 1.5-ton per hour (tph) multistage rice mills, two units of 2-3 tph multi-stage rice mills, and one unit of 4-5 tph multi-stage rice mills.

“This is the biggest one-day distribution of farm machines, and it clearly demonstrates how PHilMech has sustained the distribution of machinery and conducted various trainings for beneficiaries under the RCEFMechanization Program. Our ultimate aim is to modernize the countryside, and make it contribute more to national economic development,” PhilMech Executive Director Dionisio Alvindia said in a statement.

A total of 935 units of various rice machinery and equipment were turned over to 444 FCAs in Nueva Ecija from 2019-2023 under RCEFMechanization Program.

A total of 111,079.46 hectares of land was converted in the region between 2012 and 2022.

In contrast, the region that had the least conversions was the Bicol region where only 1,356.83 hectares of land were converted in the past 10 years.

The data on land conversion is part of the Compendium of Philippine Environment Statistics (CPES), a compilation of environment and related socioeconomic statistics collected from various government agencies.

The CPES has six components, namely: environmental conditions and quality, environmental resources and their use, residuals, extreme events and disasters, human settlements and environmental health, and environmental protection, management, and

engagement.

Component 2 of the CPES compiles statistics on environmental resources and their benefits to humanity. It has six subcomponents: mineral resources, energy resources, land, soil resources, biological resources, and water resources.

Last July, Department of Agrarian Reform (DAR) Undersecretary Luis Pangulayan said the agrarian reform program in the country will continue to work against the conversion of agricultural lands even with the signing of the New Agrarian Emancipation Act. Pangulayan said the agrarian reform mandate is to monitor arable tracts of land in the country and prevent them from being converted into other purposes other than agriculture.

UN cites global importance of potato for food security

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he United Nation has designated May 30 as International Day of Potato in an effort to raise awareness of a crop regularly consumed by billions of people and of global importance for food security and nutrition.

The Food and Agriculture Organization (FAO) said the annual observance was championed by Peru, which submitted a proposal for adoption at the UN General Assembly last July 7.

The impetus for the Day, which builds upon the International Year of Potato that was observed in 2008, originates from the need to emphasize the significant role of the potato in tackling prevalent global issues, such as food insecurity, poverty and environmental threats, according to FAO. “This International Day will shed light on the significant value of the potato— nutritional, economic, environmental and cultural. It will also highlight the contribution of the potato to global food security, poverty reduction and the livelihoods of millions, while emphasizing the key role of Indigenous Peoples knowledge and practices,” said FAO Deputy Director-General Beth Bechdol.

The Day “will allow us to draw attention to the importance of this ancestral crop in sustaining efforts to reduce hunger, malnutrition and poverty; as well as to encourage agricultural development, food security, biodiversity conservation and ecosystem functions,” Víctor García Toma, Permanent Representative of Peru to the United Nations told the General Assembly.

One crop, much potential

A millennia-old food with origins in the South American Andes region that made its way to Europe in the 16th century then spread around the world, the potato is much more than a source of nourishment.

FAO said potatoes are an important component of strategies to provide accessible and nutritious food and improved livelihoods in rural and other areas where natural resources,

especially arable land and water are limited and inputs expensive. The crop’s versatility and ability to grow in a variety of conditions make it an advantageous crop choice.

Potatoes are also a climate-friendly crop as they produce low levels of greenhouse gas emissions in comparison to other crops.

“In the past decade, global production of potatoes has increased by 10 percent leading to growth in employment and income but, more work still needs to be done to harness the full potential of the crop in the quest to end hunger and malnutrition globally,” the UN agency said.

In addition, there is a wide spectrum of diversity among potatoes, with over 5,000 improved varieties and farmers’ varieties/ landraces, many of which are unique to their original location in Latin America.

The 150 wild relatives of the cultivated potato show a wide genetic variation with a range of traits, including the ability to adapt to different production environments, resistance to pests and diseases, and different tuber characteristics. They are a repository of the heritable traits for the continued genetic improvement of the crop to respond to ever changing environmental conditions, new biotypes of pests and diseases and consumers’ preferences.

Challenges

Potato production faces several threats and challenges, especially pests and diseases, such as the virulent late blight and its various forms, as well as bacterial wilt, blackleg, Colorado potato beetle, lesser leaf blight, cyst nematodes, and numerous other.

The much-desired greater cultivation and consumption of potatoes, especially in developing countries, are also constrained by weaknesses along the crop’s value chain, ranging from low availability of quality seeds and suboptimal agricultural practices, through inadequate storage and processing facilities to limited access to markets.

The money food badly needs for climate fight is rolling in

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upercharging crop seeds to better withstand drought. Breeding cows that burp out less methane. And tracking cattle to prevent deforestation.

They’re part of the arsenal the world needs for food’s climate fight, and they’re getting a big cash boost.

More than $3 billion in climate finance has been pledged for food and agriculture since the start of the COP28 summit in Dubai, according to the organizers. On top of that, governments, philanthropies and private money are boosting funding for tackling methane in agriculture, ending deforestation and climate-smart innovation, as the summit finally puts food higher on the agenda.

Ensuring the food system limits and better copes with climate change is key to hitting green goals, especially as populations grow.

From farm to fork, food makes up about a third of greenhouse gas emissions, while also being increasingly threatened by rising temperatures, erratic weather and changing rain patterns. More money will help speed up technologies and strategies needed for the battle.

“This has been an unprecedented COP for food and climate, the COP when food came of age as a central means of responding to the climate emergency,” said Edward Davey, partnerships director at the Food and Land Use Coalition. “Now the onus is on all of us to hold ourselves accountable for the commitments made.”

COP’s official tally for food project funding does not include some other related announcements over the past couple of weeks, such as the $10 billion Africa and Middle East SAFE Initiative, a public-private project officially launched on Dec. 3 to advance climate-smart agriculture.

The pledges still need to be followed with real money and action. Financing has for years lagged the amount pouring into many other sectors and the gap for what agri-food needs is “huge,” said Barbara Buchner, global managing director at the Climate Policy Initiative.

The challenge is massive. The last three decades saw $3.8 trillion of crops and livestock production lost due to disasters including floods and droughts, the United Nations’ Food

and Agriculture Organization says. But beyond such headline-grabbing events, there lurks a slow and dangerous worsening of conditions for millions of farmers around the globe.

In India’s Chhattisgarh state, farmers Lal Singh Rathore and Narayan Singh have seen soil gradually harden and get more depleted, while pests and diseases have multiplied.

Argentinian honey maker Ana Laura Sayago’s bees have struggled to get enough nectar as dryness stops flowers blooming and hives melt in heat. And in Uganda, Elizabeth Nsimadala’s avocado seedlings were destroyed by prolonged drought.

“You prepared for just one month of drought and then you experience almost three-and-a-half months,” said Nsimadala, who came to Dubai to push for change.

“Climate change is upending farmers’ livelihoods on a massive scale. It has really affected each and every farmer. We need drastic actions.”

Many food experts hailed this year’s COP for bringing more attention to food. Some 140 nations signed a declaration during the summit vowing to include food and agriculture

in their climate plans, and more than 130 recognized the need to shift to sustainable healthy diets. Ultimately those signatories will need to produce real strategies for achieving their pledges.

Sunday marks the Food, Agriculture and Water Day, a first-ever day entirely dedicated to food systems—which include everything from how food is grown and processed to distributed and eaten or wasted. The UN’s FAO is also due to unveil a first comprehensive plan to bring the global industry in line with the Paris climate agreement.

Here are some key investments and food announcements during the summit:

Greener cows and saving forests

Much of food’s climate footprint is linked to livestock, and more money is backing technologies and research on how to reduce methane they burp out. The Bezos Earth Fund is investing in wearable sensors that measure how much cows emit. Along with the Bill & Melinda Gates Foundation, it’s also among backers putting some $200 million into a program for breeding low-methane animals

A farmer pours water on himself while working at a wheat farm in the Ludhiana district of Punjab, India, on Sunday, May 1, 2022. Bloomberg

and developing less potent feed additives.

Bloomberg’s latest S upply Lines newsletter highlights how diary giants like Nestlé SA and Danone SA have committed to disclose methane emissions within their supply chains, an important step for the private sector. It also mentions how Brazil’s Para state is creating a traceability system, which should discourage purchases of cattle reared on deforested land.

Seeds, soil and family farms

Small-scale farms produce a third of the food consumed by nations, but get just a sliver

of climate funding. At COP28, smallholders in sub-Saharan Africa and South Asia secured $200 million in pledges from the Gates foundation and the United Arab Emirates to help adapt to climate change.

There’s also a push for more climate-smart solutions, from using microbes that boost carbon in soil to turning organic waste into protein-rich feed. A US-UAE initiative called AimforClimate wants governments and companies to invest more in those kind of areas and has seen investments of more than $17 billion, up $4 billion since May. Bloomberg News

A10 Monday, December 11, 2023 • Editor: Angel R. Calso

Opinion BusinessMirror

www.news.businessmirror@gmail.com

editorial

How to solve the problem of unregistered vehicles

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he Land Transportation Office (LTO) plays a vital role not only in enforcing existing laws on land transportation and traffic rules but also in terms of generating revenue for road maintenance and development. But it cannot maximize its revenue generating function if millions of vehicles remain unregistered.

LTO Chief Vigor Mendoza II said only 14 million out of the 38 million vehicles nationwide are registered. The agency said the government would lose about P37 billion this year if the same number of vehicles remains unregistered.

One of the possible reasons for the increasing number of unregistered vehicles could be the strict lockdowns at the height of the pandemic. That’s why the LTO is currently implementing the “No Registration, No Travel” policy, which has so far resulted in the apprehension of “hundreds of motor vehicles across the country.”

The LTO recently announced plans to conduct a nationwide caravan to encourage delinquent owners to register their motor vehicles. Mendoza said the agency will coordinate with local government units, particularly at the barangay level, to launch multiple motor vehicle registration campaigns. (Read the BusinessMirror report, “LTO to hold nationwide multiple motor vehicle registration drives,” November 30, 2023).

“At the barangay level, it will be easier for us to seek the help of barangay officials to identify if any of their constituents have unregistered motorcycles and vehicles,” he said.

Around 25 million motor vehicles, mostly motorcycles, have expired registrations, the LTO chief said. Metro Manila, Central Luzon and Calabarzon regions have the most number of delinquent motor vehicle owners.

“By conducting the motor vehicle registration caravan, we at the LTO show that we are not only about enforcement. We will bring the services of the LTO closer to our clients,” he added.

The agency is also studying options to waive or reduce the penalties to encourage registration of vehicles. The penalty for registering late is 50 percent of the amount of registration. For example, the registration fee for a motorcycle is P2,000, and the penalty is P1,000. If the unregistered vehicle is caught on the road, the owner pays a fine of P10,000. LTO’s impounding area in Quezon City is already full with impounded vehicles.

The presence of unregistered vehicles on our roads has several negative implications. As stated earlier, the government loses revenue since they pay no registration fees and taxes. Unregistered vehicles do not have records, making it challenging to hold their owners accountable for traffic violations or accidents they may be involved in. These vehicles pose risks to both the vehicle occupants and other road users because they evaded the necessary inspections and tests to ensure roadworthiness and compliance with safety standards.

The fact that many unregistered vehicles are being used in criminal activities is another reason why we should not allow them on our roads. Vehicles without proper registration and documentation make the job of our law enforcement agencies tracking criminals more difficult.

What creates a sense of unfairness among law-abiding vehicle owners who complete the registration process and pay the necessary fees is the fact that so many unregistered vehicles add to traffic congestion. These vehicles contribute to the wear and tear of road infrastructure without contributing to the funds necessary for repairs and maintenance.

The LTO will soon roll out a simpler way of registering vehicles online.

“We will slowly transition to online registration and simplify the process,” Mendoza said.

By streamlining procedures to make vehicle registration more convenient and efficient, the LTO is on the right track. This should include online appointment systems, online payment options, and faster processing of registration documents. On top of these, it would do well for the agency to roll out a nationwide amnesty program for delinquent vehicle owners to encourage them to register their vehicles.

We are happy to note that the LTO is pulling out all the stops to address long-standing concerns over unregistered vehicles. Getting all owners to register their motor vehicles will enhance revenue collection for the government, improve road safety, and create a more organized and efficient transportation system nationwide.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua

Niche areas that are less susceptible to automation Atty. Jose Ferdinand M. Rojas II

RISING SUN

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any workers from various labor sectors in the country have started to feel the effects of new technology, specifically artificial intelligence (AI), on their professional lives.

While there are certainly benefits, unfortunately, many of our workers are also losing income because of it. Technology is rapidly transforming industries and reshaping the employment landscape, which is inevitable.

Yet some niches or areas remain less susceptible to the encroachment of machines and algorithms.

Here, human skills, creativity, and specialized knowledge continue to be irreplaceable. It would be wise for us to study this aspect of work and to devote time and effort to learning and updating ourselves on the latest developments and effective strategies so we may continue to be relevant.

In the realm of creative industries, where significant changes are happening because of AI, human imagination and emotion continue to be our saving grace.

Creative endeavors involve a level of originality and intuition that current AI systems cannot fully emulate, ensuring the enduring relevance of human creators.

Teaching and training continue to require a unique blend of empathy, adaptability, and understanding of individual learning needs.

Educators continue to play a fundamental role in promoting critical thinking. This is something that machines cannot replicate. Similarly, professions related to counseling and therapy also rely heavily on people’s capacity for active listening and personalized guidance.

Editor in Chief Associate Editor News Editor

T is reassuring to note that the Bangko Sentral ng Pilipinas (BSP) has leveled up its campaign about the seeming apprehension from merchants, traders and vendors about the new P1,000 polymer bills when they are presented for payment for items bought.

That is why with the Bangko Sentral is now active on social media platforms to reassure the public that folded or not, these new P1,000 polymer bills are acceptable. It is hoped that with BSP’s assurances, the public will openly embrace the polymer bills the way they accepted the old P1,000 paper bills. Kudos to the BSP’s communications department.

Bangko Sentral is making good use of social media platforms in connecting to the public to remove apprehensions about the polymer bills. BSP said they are still good for their monetary value even when they are folded. We got text messages about the assurance from the monetary agency that even when folded, the new polymer bills are still good.

There have been numerous reports about traders refusing to accept the new polymer bills when they are folded. And with this apprehension, they are also reluctant to accept the bills on the belief that they may fold the bills and thus can’t be used for payment or de-

folded or not, these new P1,000 polymer bills are acceptable. It is hoped that with BSP’s assurances, the public will openly embrace the polymer bills the way they accepted the old P1,000 paper bills. Kudos to the BSP’s communications department. This information campaign is timely, as the nation celebrates Christmas. It is indeed important to disabuse the minds of our traders and vendors that the new bills are still good even when they are folded.

Polymer bills have been adopted in other countries because they last five times longer than paper bills. Polymer bills are also hard to counterfeit and their design can be secured while other features can be added to promote our tourist

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The nuances of human emotions and the ability to provide tailored support make these professions less amenable to automation.

Healthcare is also a domain where the intricate balance of technical expertise and human touch is crucial. Doctors, nurses, and healthcare professionals engage in complex decision-making, empathy, and hands-on care, making it challenging for automation to replicate the nuanced aspects of patient interaction.

This is true also for professions within the landscape of social work. Social workers and counselors are at the forefront of addressing social issues and

providing support to individuals and communities. Their tasks involve understanding diverse backgrounds, cultures, and individual circumstances, presenting challenges for automation to effectively navigate.

Perhaps one of the professions that are least likely to be overtaken by machines would be those related to skilled trades, such as work being done by our electricians, plumbers, and mechanics. Cybersecurity professionals are likewise in a good place. As technology advances, the demand for human expertise in cybersecurity remains paramount.

Their work involves analyzing evolving threats, developing strategies, and responding to incidents with a level of adaptability and intuition that automated systems currently lack.

In healthcare, creativity, education, and beyond, the intricate interplay of emotion, intuition, and specialized knowledge creates a barrier that automation struggles to breach. As we navigate the future, it is crucial to recognize and celebrate the enduring value of these niche areas, ensuring that the march of progress remains a collaborative endeavor between humanity and technology.

BSP tells merchants folded ₧1,000 bills okay

Founder Publisher

In healthcare, creativity, education, and beyond, the intricate interplay of emotion, intuition, and specialized knowledge creates a barrier that automation struggles to breach. As we navigate the future, it is crucial to recognize and celebrate the enduring value of these niche areas, ensuring that the march of progress remains a collaborative endeavor between humanity and technology.

LITO GAGNI

I

posit anymore. This problem hurts the economy since the velocity of money, which drives commerce, is curtailed.

Actually, the confusion over folded polymer bills arose from vlogs about the non-acceptance of folded bills. And as the vloggers tried to outdo each other, the social media noise about folded bills rose to intense decibels that traders from Taytay, Divisoria, and other areas started refusing to accept the new bills. The same apprehension was also noted in far-flung provinces.

That is why the Bangko Sentral is now active on social media platforms to reassure the public that

spots such as the Tubbataha Reefs Natural Park, a Unesco heritage site that’s featured in the new P1,000 polymer bills. Thus, the bills become tourism come-ons for the country.

There are features incorporated in the new polymer bills that help the visually challenged as there are five embossed sites that allow for tactile distinction of the notes. Also, producing polymer banknotes has less environmental impact given their smaller carbon footprint, lower water and energy usage, and less environmental toxicity.

With polymer bills, the Bangko Sentral introduced detailed images and sophisticated security features that make polymer banknotes more difficult to counterfeit. These aspects, aside from the savings on the use of polymer bills, are the plus factors for the use of the new P1,000 bills.

A mid the buzz on climate change, polymer banknotes are considered green since these banknotes can be recycled to produce various products such as building components, plant pots, and garden furniture.

See “Gagni,” A11

Opinion BusinessMirror

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Philippines as a global tax leader

‘Is it (he) really worth it?’

Siegfred Bueno Mison, Esq.

THE PATRIOT

Joel L. Tan-Torres

DEBIT CREDIT Fifth part

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he Organization for Economic Co-operation and Development (OECD) is a forum where the governments of 37 countries collaborate to develop policies and programs to promote sustainable economic growth.

The OECD works through more than 300 committees and working groups that cover almost all areas of policy-making, such as education, finance, trade, environment, and taxation.

The Philippines is not among the group of 37 countries comprising the membership of OECD. However, it participates as an observer in the various events conducted by the OECD and is a member of the committees, including several taxation groups.

The OECD Tax is focused on several taxation subjects, including Base erosion and profit shifting (BEPS) Consumption tax; Dispute resolution; Exchange of information; Fiscal federalism network Global relations and development; Public finance; Tax administration; Tax and crime; Tax policy analysis; Tax treaties; and Transfer pricing. Its web site at https://www.oecd.org/tax/ provides detailed information about these activities, which are mostly relevant to the Bureau of Internal Revenue (BIR) and taxpayers of the Philippines.

The BIR is a member of the OECD/G-20 Inclusive Framework on BEPS and the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum). However, its role in these undertakings is nominal, consisting of merely attending its various meetings and events. I am convinced that the BIR can play a more significant role and even assume global responsibility.

The BEPS Committee, consisting of 145 countries, is working on several initiatives in formulating international tax arrangements that provide a fairer and better tax ecosystem in a digitalized and globalized world economy. This Committee is proceeding with the Two-Pillar solution that is directed at helping to prevent tax avoidance, protect against the erosion of domestic tax bases, and tackle illicit financial flows.

While the rest of the world is abuzz with the BEPS and the global minimum tax, there is little noise in the tax community in the Philippines. It is high time that the various tax stakeholders, including the finance and tax officials, the tax committees in Congress, the professional tax associations, and the taxpayers, join the discourse so that they won’t be struggling to catch up on these important global tax developments.

The Global Forum is working on the implementation of international standards on tax transparency. It ensures that these high standards of transparency and exchange of information for tax purposes are in place globally through its monitoring and

Gagni . . .

continued from A10

On the issue of health concerns following Covid-19, the smoother, non-absorptive surface of polymer banknotes makes them cleaner.

Based on studies by our Department of Health, the survival time of bacteria and viruses in polymer banknotes is significantly shorter than in paper banknotes.

Polymer banknotes can also withstand the test of temperature and time. They can last much longer than paper banknotes given their resistance to water, oil, dirt, and general wear and tear. After

While the rest of the world is abuzz with the BEPS and the global minimum tax, there is little noise in the tax community in the Philippines. It is high time that the various tax stakeholders, including the finance and tax officials, the tax committees in Congress, the professional tax associations, and the taxpayers, join the discourse so that they won’t be struggling to catch up on these important global tax developments. peer review activities. It is involved in International Standards for the Automatic Exchange of Information in Tax Matters, the Convention on Mutual Administrative Assistance in Tax Matters, and the Common Reporting Standard. I remember that way back in the 1980s when I was the Chief of the International Tax Affairs Division of the BIR, these tax administration measures were already in place and supported the BIR’s tax enforcement. These Global Forum initiatives are presenting opportunities for collaboration among tax authorities of different countries.

It is good for the BIR to be proactive in its involvement in these programs of the Global Forum to gain the full benefit that these can bring to the tax collection efforts.

However, I note that the Philippines has been a laggard in these tax transparency directions of the Global Forum. In the Tax Transparency in Asia 2023: Asia Initiative Progress Report (https://www.oecd.org/tax/ transparency/documents/tax-transparency-in-asia-2023.pdf), the Philippines ranked second to last among 22 Asian countries in the number of regional or bilateral Exchange of Information agreements agreed on to foster tax co-operation among them. This should improve so that the Philippines can gain recognition in the area of global tax collaboration with its peers in the region and the rest of the world.

To be continued Joel L. Tan-Torres was the former Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy, and Tax partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He is now back to his tax and consultancy practice and can be contacted at joeltantorress@yahoo.com and his firm JL2T Consultancy.

Covid, some citizens have been sprinkling alcohol on the bills they get for added precaution.

Another advantage of using polymer bills is that the country can put a distinct design and texture into the new banknote that is easily distinguishable from the paper banknotes. Aside from the acclaimed Tubbataha Reef, the new P1,000 bill incorporates the country’s national flora and fauna symbols: the Philippine eagle and the Sampaguita flower.

Pretty soon, other notable features can be included in future polymer bills, such as Cebu that shows our Christian heritage and Zamboanga with its colorful vintas.

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hat apparently was a showbiz matter years ago became a national issue simply because a Supreme Court Justice made a comment about it. Previously, the Bea AlonzoGerald Anderson-Julia Barretto love triangle filled our news screens with such fiery intensity. Short of exaggeration, if there was a farflung nook and cranny in the Philippines, and probably abroad, it was busy with the discourse on who “ghosted” who, what caused the break-up of the erstwhile lovers, and whether the “new girl” was a third wheel. Call it mundane but all too suddenly, the controversy enthused Associate Justice Marvic Leonen that he posted on his social media account a message to the two ladies: “Bea and Julia: Is he (Gerald) really worth it? #JustAsking.” This led Muntinlupa Representative Ruffy Biazon to jokingly state that he might file a legislative inquiry about the issue in aid of legislation.

These days, the entertainment industry is awash with stories of disintegration and reunion. There’s the KathNiel break-up, along with the Sarah Labhati and Richard Gutierrez marriage collapse. Relatedly, the Sharon-Gabby get-together concert fueled rumors of rekindled feelings.

All these break-ups and breakdowns continue to gain traction among Filipinos as much as political issues do. I wonder if these entertainment news will once more ignite any interest, albeit ephemeral, from a Supreme Court magistrate or lawmaker.

I still encounter Filipinos who are caught in the quagmire of seemingly pointless discussions about the lives of celebrities or things that evoke a reaction—“Is he (it) really worth it?”, borrowing from how Justice Leonen reacted to an issue of “lesser importance.” Not to belittle entertainment news in terms of national impact, but the point for all, especially those in leadership roles, is to identify what exactly are the things that ought to capture our attention. What are the things that should be worth our time and interest? Be it in the field of entertainment or in the political sphere, before we spend more attention to it, we should ask ourselves first—“Is it really worth it?”

In the case of former Senator Leila de Lima, I can confidently speculate that she asked that same question many times—“Is it really worth it?”

—the “it” being her quest to expose the truth in the extrajudicial killings during the supposed drug war under the Duterte administration. Her years of detention for fabricated charges involving drugs most certainly were not worth fighting for, at least for ordinary mortals like me. But, for a crusader like her, the quest for truth, the harassment and imprisonment that went it, were indeed all worth it!

Some lawmakers who questioned the constitutionality of the confidential funds received by the Office of the Vice President could say that airing their grievances is worth the country’s while. In response, VP Sara Duterte-Carpio could be contemplating whether these inquiries from a “noisy minority” is worth her time.

As of this writing, it appears to be worth her time since more than two cases have already been lodged in the Supreme Court assailing the legality of said “highly classified” funds.

However which way we put it, the worth of any topic is most often measured by its value, usefulness or functionality. Value is separate and distinct from success. Albert Ein-

Monday, December 11, 2023 A11

Believers know that the man on the Cross is worth our belief because God now sees us clean and pure, no longer sinners struggling for His forgiveness.

Our posture and standing, and most importantly our worth, have been cemented as good because Jesus took every infirmity and blemish that could have tainted us in the eyes of our Creator. stein once urged others to “try not to become a man of success, but rather try to become a man of value.” Within the ambit of such statement lie the elements of honesty, diligence, and empathy, among other worthy attributes. “Value” involves a nurturing of character to an extent of having a good influence on others. An author even said that one may become the world’s richest man or win a Nobel prize or Academy Award—achieving success for their accomplishments, but without having core values like honesty and integrity, one might find himself alone at the top with no one genuinely caring for them.

Take the case of Indian industrialist of epic proportions Dhirubhai Ambani and Indian mob boss Dawood Ibrahim. Both are financially successful and considered above the totem pole, if one were to consider being a drug lord as an achievement.

Yet no respect can be given by the people of India to any “successful” person who is wanted for charges of murder, extortion, targeted killing, drug trafficking and terrorism. Indeed, one’s success could not define his actual worth, for without core values, any human accomplishment won’t hold the fort.

Perhaps the most important question that all of us should be asking could be found in the realm of our spiritual lives. With the sacrifice of one man and with his precious blood that was shed for our salvation, is talking about Jesus Christ worth it? The answer is a resounding yes.

In the Bible, 2 Corinthians 5:21 said: “God made him (Jesus) who had no

sin to be sin for us, so that in him we might become the righteousness of God.” Offered to all human beings, this gracious gift is effective only to those who believe and accept Jesus as their personal Savior.

Believers know that the man on the Cross is worth our belief because God now sees us clean and pure, no longer sinners struggling for His forgiveness. Our posture and standing, and most importantly our worth, have been cemented as good because Jesus took every infirmity and blemish that could have tainted us in the eyes of our Creator. This “right believing” leads to “right living” as one Pastor refers to it. This cause and effect allow believers to be naturally inclined to do good and walk in God’s ways—all because He knows our actual identity of being righteous, made possible by the sacrifice of Jesus Christ.

Yes, He is truly worth it. Any topic about our Almighty God, about anything from the Bible, or anything with eternal perspective is worth our attention. Neither gossip about celebrities nor any fleeting issue about confidential funds could ever be as worth as talking about our faith in Him. May this Christmas season remind us that any form of celebration will not be worth our time and effort without fixing our eyes on the One Man who considered our joy and peace as worthy of His blood and sacrifice. We have the option not to engage in gossip or conversations that don’t align with our values and to instead choose those that uplift and inspire one another. So, the next time we have topics for discussions in any table, we should ask ourselves— “is it really worth it?” #JustAsking A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission.

For questions and comments, please e-mail me at sbmison@gmail.com.

Cheering at UAAP games UP style–‘may giting at tapang’ Dennis Gorecho

Kuwentong Peyups

‘B

E sad for now, and tomorrow, look forward and represent the University of the Philippines community.”

Thus declared 6’11” Malick Diouf in an interview after the UP Men’s Basketball Team’s (UPMBT) unsuccessful attempt to regain the championship trophy in the Finals Game 3 of Season 86 of the University Athletic Association of the Philippines (UAAP) at the Smart Araneta on December 6, 2023.

The players for the UPMBT for Season 86 include Gerry Abadiano (6’0”), Harold Alarcon (6’1”), Sean Alter ( 6’9”), Mark Belmonte (6’5”), Chico Briones (6’6”), Joel Diomar Cagulangan (5’9), CJ Cansino (6’2”), Malick Diouf (6’11”), Janjan Felicilda (5’7”), Terrence Fortea (6’1”), Seven Gagate (6’8”), Cyril Gonzales (5’10”), Francis Lopez (6’5”), Luis Pablo (6’7”), Sean Aldous Torculas (6’4”), Reyland Torres (6’1”). Malick is the tallest and Felicilda the shortest.

Being the tallest is also commensurate to Malick’s combined points of 210, which is the highest among the team, followed by Cansino (186), Lopez (174), Alarcon (167), Abadiano (110), Cagulangan (99), Felicilda (95), Torculas (85), Torres (69), Briones (50), Belmonte (45), Gonzales (38), Alter (25), Pablo (24), Fortea (20) and Gagate (8).

UP is one of the four founding members of the UAAP in 1938. There are currently eight member universities. I still remember watching basketball games of the UAAP in the late 1980s and early 1990s with almost empty seats.

In 1986, the UPMBT won over the

UE Red Warriors under the guidance of legendary coach Joe Lipa with star players Benjie Paras, Ronnie Magsanoc and Eric Altamirano.

From 2007 to 2014, except in 2008, UP was always at the bottom— it ranked eighth (out of eight schools) in the basketball category.

The UP Fighting Maroons won their first title in 1939 (Season 2) then followed it up 47 years later in 1986 (Season 49). Then there was the 36 years of championship drought until its third title in Season 84 in 2022.

In 2014, UP lit up a bonfire at the Sunken Garden to mark one win after a 27-game losing streak.

In 2018 Season 81, UP’s bid for the championship trophy unfortunately ended when it lost to Ateneo.

In 2019 Season 82, UP was defeated by UST during the Final Four round.

In 2020-2021 season 83, there was no tournament due to the pandemic.

In 2022, the Maroons had their best record as champions in Season 84.

The UPMBT claimed their first

Each game became minireunions with endless photo-ops and reminiscing of college days memories over coffee, lunch, merienda or dinner. This galvanized an extraordinary sense of solidarity for UP constituents often described as the microcosm of a highly diverse nation. championship in 36 years when it dethroned the Ateneo Blue Eagles in the Finals Game 3 of the UAAP Season 84 on May 13, 2022 at the MOA Arena.

However, UP’s attempt to regain its championship title for Season 85 ended when it succumbed to Ateneo in the Finals Game 3 on December 19, 2022.

In 2023, UP again failed to earn the championship title for Season 86 after it lost to De La Salle University (DLSU) in the Finals Game 3 on December 6, 2023 before a roaring crowd of 25,192 at Smart Araneta Coliseum.

UP was the top seed after the elimination round with 12 wins and 2 losses. It qualified for the Finals when it won over Ateneo (57-46) in their November 25, 2023 game at the Smart Araneta Coliseum.

UP won Game 1 of the finals (9767) but the Green Archers came back in Game 2 (82-60). DLSU won in Game 3 (73-69), bagging the trophy.

The Finals Game 3 scores of UP (69): Diouf (21), Lopez (12), Alarcon (10), Cagulangan (8), Felicilda (5), Cansino (5), Torculas (4), Abadiano (2), Torres (2), Fortea 0, Pablo 0.

The scores for the quarters (DLSU/UP): 22-21, 39-43, 55-58, and 73-69.

This is the last UAAP season game for team captain Cansino and Di-

ouf as they are set to graduate this academic year with the degree on BS Sports Sciences. Malick was recognized as part of the Mythical 5 for Season 86 and the Most Valuable Player for Season 85.

Cansino said that they are thankful for the UP community’s continuous support as “they loved us like no other, win or lose. They were always there.”

Securing tickets became a challenging feat in every game due to the increasing number of enthusiastic fans eager to shout “UP Fight” as the maroons battle it out to earn the spot for the final games.

Each game became mini-reunions with endless photo-ops and reminiscing of college days memories over coffee, lunch, merienda or dinner.

This galvanized an extraordinary sense of solidarity for UP constituents often described as the microcosm of a highly diverse nation.

A campus anecdote was that the varsity team was once known as the UP Parrots. It was replaced with a new moniker that revived the old (circa 1920s) name Maroons along with the adjective “fighting” to describe the sportsmanship attitude that the UP varsity teams must possess during the games.

UP is an academic community all too easily fractured by politics and personal interest, but the cheer “UP Fight!” reverberated during UAAP games as the UP Fighting Maroons fought UP style—“may giting at tapang.” Every point is worth screaming for.

Peyups is the moniker of the University of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@ sapalovelez.com, or call 0917-5025808 or 09088665786.

45th Year of Catholic Mass Media Awards Celebrating Excellence in Truth and Love

T

HE 45th Catholic Mass Media Awards (CMMA) took place at the Citystate Tower Hotel in Manila on November 23rd, 2023, recognizing organizations and individuals whose work embodies Catholic values and ideals. 52 winners emerged from a pool of 205 finalists across 41 categories encompassing print, radio, television, music, advertising, the internet, and the Student CMMA. The 45th CMMA’s theme was “Speaking With the Heart: The Truth in Love (Ephesians 4:15),” highlighting the media’s profound impact in molding public opinion and fostering moral character within the community. CMMA Chairman D. Edgard A. Cabangon reaffirmed this sentiment, stating,“This year’s CMMA theme,‘Speaking with the heart the truth in love, Ephesians 4:15’ is but fitting considering the challenges and struggles that the country and the whole world is experiencing these days.” He emphasized the importance of upholding truthfulness and Christian values in a media landscape burgeoning with new platforms.

CMMA Honorary Chairman and Archbishop of Manila Jose F. Cardinal Advincula, D.D. delivered a powerful keynote address. He stressed the need for media professionals not only to report the truth but also do so “in charity and in love.” He lamented

CMMA Chairman D. Edgard A. Cabangon welcomes the attendees of the 45th CMMA Night.

PHOTOS BY MARICAR SANTOS

the prevalence of misinformation and the tendency to prioritize negative news over positive stories, urging for a shift towards truth-seeking and truth-telling “motivated by love and compassion.”

Cardinal Advincula highlighted,“We are living in a world inundated with suspicion and lack of trust in one another. Everybody has something to say against everybody. In social media, it is done for the views and for virality. In the big networks, for-profit and for what sells.” He recounted his own experience at the recent Synod in Rome, citing how media portrayals diverged significantly from the actual events. This experience fueled his call for “fair, honest, and diligent” media practices.

Cardinal Advincula praised the CMMA for its 45-year commitment to promoting truthful, inspiring, and transformative content. He emphasized the importance of cordial communication, stating,“Communicating in a cordial manner means that those who read or listen to us are led to welcome our participation in the joys, fears, hopes and suffering of the men and women of our time.” He urged media professionals to move beyond superficial dialogues and instead connect with the heart.

In addition to the regular awards, two special awards were also presented. The St.

His Eminence Jose F. Cardinal Advincula, D.D., Archbishop of Manila and CMMA Honorary Chairman delivers his keynote speech.

John Paul II Award recognizes groundbreaking use of mass media by individuals, groups, or organizations to share the gospel message with the wider community. Dominus Est PH, an independent online ministry run by Stardust Publishing, received the prestigious award.

The Serviam Award, bestowed posthumously upon the esteemed broadcaster Miguel Castro “Mike” Enriquez, recognizes individuals and organizations making substantial contributions to spreading the message of faith and promoting human values through the power of media.

Cardinal Advincula concluded his speech, stating, “Congratulations to all of you, our dear media partners, finalists and winners of the 45th Catholic Mass Media Awards.

We honor and recognize your hard work. We greatly appreciate your creativity and resourcefulness. We would like to affirm your great calling to speak with the heart the truth in love. God bless you always. May the Lord protect and strengthen you as you perform your duties and mission in life.”

The 45th CMMA served as a powerful reminder of the immense responsibility media practitioners hold in shaping our world. With truth and love as guiding principles, they can contribute to a more informed, compassionate, and hopeful society.

From left: Fr. Rufino C. Sescon, Jr., CMMA Executive Director & Trustee, Sr. Paz Bandalan, CMMA judge & Toni Aquino, host of Sumasapuso Kasama si Toni Aquino, winner for Best Radio Drama Program.

From right: Robi Domingo, Mathdali host, Lawrence Kasma, marketing officer of BDO Foundation & Edric Calma, VP of Knowledge Channel receive the Best Children & Youth Program for Mathdali from Cardinal Advincula and D. Edgard Cabangon.

From right: Luis Puyat & Nina Daza-Puyat, author of Ang Alamat ng Lumpiang Shanghai receive the Best Children’s Magazine award from Sr. Venus Marie S. Pegar, SFX, CMMA judge & Benjamin V. Ramos, CMMA assistant to the chairman

Usec. Margaux Salcedo and Clyde Ericson Nolasco receive the St. John Paul II award for Dominus Est PH from Cardinal Advincula.

Michelle and Ernie Lopez receive the Best Public Service TV Program award for G. Diaries.

Kim Atienza, Cheryl Cosim and Fr. Hans Magdurulang host the 45th CMMA Night.

2023 CMMA AWARDEES 2023 SPECIAL AWARDS ST. JOHN PAUL II AWARD • DOMINUST EST—STARDUST PUBLISHING SERVIAM AWARD (POSTHUMUOS) • MR. MIGUEL CASTRO “MIKE” ENRIQUEZ 2023 CMMA WINNERS STUDENT CMMA BEST STUDENT ORGAN - GRADE SCHOOL • THE HAVENSENT—STUDENT’S HAVEN TUTORIAL & LEARNING CENTER BEST STUDENT ORGAN - HIGH SCHOOL • THE AGNESIAN—ST. AGNES ACADEMY, INC. • SAPIENTIA ET VIRTUS—SCHOOL OF SAINT ANTHONY BEST STUDENT ORGAN - COLLEGE • THE BENILDEAN: REACTED—DE LA SALLE - COLLEGE OF SAINT BENILDE BEST LITERARY PUBLICATION • “PREMONISYON” THE GUILDS LITERARY FOLIO BATAAN PENINSULA STATE UNIVERSITY MAIN CAMPUS BEST STUDENT PUBLIC SERVICE PRINT AD • TAHANAN—UST ANGELICUM COLLEGE, INC. BEST STUDENT PUBLIC SERVICE RADIO AD • HEY, SIRI—FAR EASTERN UNIVERSITY - MANILA BEST STUDENT PUBLIC SERVICE TV AD • HEART OF GIVING—FIRST ASIA INSTITUTE OF TECHNOLOGY AND HUMANITIES (FAITH COLLEGES) BEST TV PRODUCTION • TIME-LAPSE—UST ANGELICUM COLLEGE, INC. • MATANDANG CAMARERO—FAR EASTERN UNIVERSITYMANILA BEST SHORT FILM • LADINGIT—UST ANGELICUM COLLEGE, INC. SOCIAL MEDIA CATEGORY BEST VLOG • https://www.facebook.com/kakaibakastories/ https:// youtube.com/@kakaibakastories—PROCLAIM ONLINE MINISTRY OF PATHWAYS / ANG LIGAYA NG PANGINOON COMMUNITY BEST WEBSITE • https://www.dominusest.ph—STARDUST PUBLISHING ADVERTISING CATEGORY BEST DIGITAL AD - BRANDED • TAYO ANG TAHANAN NG ISA’T ISA—CREATIVE COMMUNICATION MANAGEMENT / ABS-CBN CORPORATION BEST DIGITAL AD - PUBLIC SERVICE • “EVERYDAY SANTA”—MANILA BULLETIN PUBLISHING CORPORATION

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BEST SPECIAL FEATURE • A TI, VIRGEN DE LOURDES: THE CHRONICLE OF THE FILIPINO’S DEVOTION TO VIRGEN DE LOURDES, THE MAGNET OF THE MULTITUDES—THE PROVINCIAL COMMISSION FOR THE CANONICAL CORONATION OF OUR LADY OF LOURDES

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Companies BusinessMirror

Editor: Jennifer A. Ng

Monday, December 11, 2023

B1

Scions of founders Cebu Pacific targeting to fly to take over helm 24M passengers next year of GMA Network

D

By Lorenz S. Marasigan

@lorenzmarasigan

espite challenges in maintaining a healthy fleet of aircraft amid the rising demand for air travel, Cebu Pacific is expected to buck global trends and still increase its capacity.

Alexander Lao, the company’s president and COO, said the company is gearing up to hit and surpass its prepandemic passenger volume of 22 million even as it arrests challenges in jet capacity.

The carrier is aiming to fly 24 million passengers in 2024.

“From a passenger point of view I don’t think we will hit the 2019 number [this year]. Clearly, for next year, that is what we’re going to aim to do. We aim to grow seats next year by roughly five to eight percent and that is helped somewhat by the wide-body deliveries we have next

year plus some of the Bulgaria Air aircraft that are coming in,” he said in a recent interview.

The carrier is expecting to take delivery of “16 aircraft” in 2024, allotting P50 billion in capital expenditures for next year, a 19-percent hike from P42 billion in 2023.

It has also signed a damp lease agreement with Bulgaria Air to use two of the latter’s Airbus A320s for its local operations. A damp lease is an agreement between two airlines which includes the aircraft, crew, maintenance, and insurance.

Lao noted that the company is also looking at an “opportunistic” initiative, where it will get “some of our fleet from China, from the Airbus final assembly line in Tianjin.”

With this, Cebu Pacific expects to close 2024 with 92 jets.

Currently, “between 10 and 20 aircraft” of the budget carrier are parked due to the supply issues with engine maker Pratt & Whitney.

This, Lao said, forced the company to “plan and see ahead.”

“We have increased standby coverage, we have already rationalized the schedules to reflect those reductions in the fleet, we have also added the aircraft resiliencies in terms of increased fares, we have changed our customer policy to address it,” he said.

For instance, Lao said, Cebu Pacific has delayed plans to increase its services to Sydney and Melbourne in Australia.

“We have taken a step back and said maybe now is not the right time to expand in the long-haul market given the Pratt & Whitney issues that we are experiencing. We will

be upgrading our services to Cebu, to Davao, to General Santos on an A330. For short-haul international, whether it is Hong Kong, Bangkok, Incheon, those services would also be upgraded to A330.”

This rationalization, Lao said, is “challenging” but “we were certainly much prepared for it today.”

With this, Lao said the airline expects to still continue growing its capacity in 2024 “by around 5 to 8 percent.”

“And if you look at other operators with the same kind of issues, I think it will be difficult for those other operators to even maintain their growth.”

Carriers around the world that currently grapple with the issue had to reduce their capacities in 2023 due to the lack of engine spare parts.

Some even had to downsize their workforce. These include Spirit Airlines, Volaris, and IndiGo, among others.

“The fact that we are able to grow is actually a testament to the work that was done by a lot of the teams internally,” Lao said.

ALI allots ₧1.9B for Batangas asset

By VG Cabuag @villygc

P

roperty developer Ayala Land Inc. (ALI) has earmarked some P1.9 billion for its foray into a mixed-use development dubbed Arillo in Batulao in Nasugbu, Batangas.

Spanning over 62 hectares, Arillo offers a blend of eco-tourism, sustainable development and luxurious living, the company said.

Arillo will be the “premiere ecotourism and nature haven for life and leisure in Batulao,” it said.

The estate will feature a mixeduse development with a masterplanned leisure town center at its core. Arillo will serve as the economic hub, providing commercial lots for thriving businesses, residential developments for comfortable living,

and facilities such as the Blue Leaf Events Place, El Kabayo horseback riding facilities, a mountain leisure center, Arillo Canyon Trails, and various other leisure activities.

“Ayala Land will enhance the natural scenery of Arillo further and create a one-of-a-kind leisure destination,” ALI President and CEO Anna Ma. Margarita B. Dy said.

“By early next year, expect the Leisure Center to be operational which will have a café, a welcome center for our buyers and guests, and the mountain climbing center, which is the jump off point to Mt. Batulao and Mt. Talamitam, Arillo Canyon Trails.”

Strategically located in Barangay Caylaway, Nasugbu, Batangas, Arillo is easily accessible via major highways such as SLEX or Skyway, CALAX, CAVITEX, and Nasugbu-

Tagaytay Highway. The upcoming Cavite-Tagaytay-Batangas Expressway (CTBEX) is poised to further improve connectivity, reducing travel time from Makati by at least 30 minutes.

“With its proximity to Tagaytay and Nasugbu’s beaches, Arillo promises a blend of cool mountain weather and the convenience of nearby beach resorts,” the company said.

“Arillo is also committed to providing organized transport systems within the estate, ensuring convenience and accessibility for residents and visitors. Efforts will be made to establish efficient transportation services catering to the needs of the community.”

Nasugbu is a first-class municipality in Batangas, renowned for its white sandy beach resorts and popular tourist destinations.

Arillo is poised to enhance Nasugbu’s local tourism industry by complementing existing beach offerings with a mountain-themed estate. The estate’s commitment to sustainable tourism practices and partnerships with local authorities and conservation organizations will ensure the preservation of the area’s natural beauty while offering visitors experiences through mountain climbing and trekking activities.

“Arillo, however, will not be a signature Ayala Land Estate development without ALI’s well-balanced mix of developments. To complete the vision for Arillo, we will have a commercial district with a threehectare retail town center, Seda’s first mountainside resort, and residential offerings from AyalaLand Premier,” Dy said.

Honeywell to buy Carrier security business Ayala inks deal with Global-Link H

T

he Ayala Foundation, the social development arm of the Ayala group of companies, has forged an agreement with international trade events and marketing agency Global-Link MP Events International Inc. Global-Link MP will help the foundation establish more stakeholder connections as it aims to provide more market access for the products of local communities.

“With Global-Link MP’s expertise, we can actually reach more stakeholders and increase our impact in terms of running (the foundation’s) programs,” Antonio G. Lambino II, president of Ayala Foundation, told reporters on the sidelines of the partnership launch last Thursday in Makati City.

Lambino said the foundation runs development projects, through which they aim to “improve the quality of life” in local communities. Andrea E. San Juan

oneywell International agreed to acquire the security business of Carrier Global Corp. for an enterprise value of about $5 billion, which marks the biggest deal since 2015 for the maker of jet engines and gas detectors.

The acquisition broadens Honeywell’s product offerings in security controls for buildings, which was an area lagging behind the larger market positions the company has in property management systems and fire systems, Honeywell Chief Executive Officer Vimal Kapur said in a Bloomberg TV interview with David Westin.

“This deal strengthens our capability in security, which is I believe a high-growth category,” Kapur said in the interview. “So it fits right in the heart of our building automation business and prepares it for a higher growth rate in the future.”

It also marks the first major acquisition under Kapur, who took over as the company’s CEO in June.

The new security business will add more that $1 billion to the building technologies unit, which had sales last year of $6 billion.

Honeywell fell 1.6 percent to

A Honeywell office in Atlanta, Georgia, United States, on Wednesday, October 25, 2023. Bloomberg News

$194.61 in New York Friday. Carrier’s shares rose 4.5 percent to $55.27.

Investors have been pushing Honeywell to juice its growth through more and larger deals. This latest bolt-on addition is the largest since its $5.4 billion purchase of Elster Group under former CEO Dave Cote, which was announced in 2015 and closed in early 2016.

The purchase price is about 13 times earnings before interest, tax-

es, depreciation and amortization, and the deal is expected to close in the third quarter next year. After counting cost savings. the deal will be accretive to cash earnings per share in the first year and have cash returns of 10 percent after five years, Kapur said.

“It really hits all the metrics,” Kapur said. “Not only is it a strong fit in the strategy, it hits all our financial goals.” Bloomberg News

Photo from www.gmanetwork.com

G

MA Network Inc. is poised to undergo a significant shift in leadership as its chairman and chief executive, Felipe L. Gozon, is retiring from his post, marking a “new era” in the conglomerate’s history.

In a statement, GMA said the sons of the three founders of the network will lead the company following Gozon’s retirement effective January 1.

Gilberto Duavit Jr., the company’s president and COO, will assume the CEO role starting January 1. Joel Marcelo Jimenez, the son of GMA founder Menardo Jimenez, was also elected as the new chairman of the network’s Executive Committee.

Duavit, the eldest son of GMA founder Gilberto Duavit Sr., has been integral to the network’s operations

since joining the Board of Directors in 1999.

Despite his retirement, the 84-year-old Gozon will remain as the chair of the company’s board of advisers.

The listed broadcasting conglomerate described Gozon as a “transformational” leader, as he brought GMA to the top of the ratings war with then competitor ABS-CBN Corp.

With Gozon as its chief, GMA reaches over 73 million Filipinos across the country. It has grown into a network of 106 TV stations and 21 radio stations nationwide. Globally, GMA International connects with millions of Filipinos in over 100 countries. GMA Regional TV also continues to reach more Filipinos with its top-rating and award-winning local programs. Lorenz S. Marasigan

Sansan to hire more software developers

By Manuel T. Cayon Mindanao Bureau Chief @awimailbox

D

avao City—Sansan Inc., a Japanese information technology company, said it is strengthening its presence in the Philippines by opening another 100 slots for local software developers.

Its Sansan Global Development Center is hiring 100 software developers as it also announced that it was expanding “to larger premises” after it put up an office early this year in Cebu City.

“We are creating IT jobs for Filipinos and supporting the local economy of Cebu. The Philippines remains an attractive global IT hub for international companies, with Cebu notably offering a high-level of IT education and a large pool of talented engineers,” Jay Pegarido, director and country manager at Sansan Global Development Center Inc., said in a statement.

“We are excited to continue our recruitment drive for the best tech talent we can find as we work toward improving our overseas development environment. I encourage talented IT experts to apply for roles at Sansan’s Cebu center.”

It comes as the company nears its 50 software developer milestone, since announcing plans to hire up “to 100 earlier this year. The center supports the development of Sansan’s product functions for global mar-

kets, delivering a global-standaKt rd technology development environment,” it said.

Sansan is a Japanese provider of cloud-based solutions “that promote digital transformation (DX) and reshape how we work.”

The company does not offer its solutions in the Philippine market at present but its decision to put up an office in Cebu was meant to accelerate its overseas product expansion this year, including its namesake sales DX solution Sansan and online invoice receiving solution Bill One, with a focus on Southeast Asia.

“Through its overseas subsidiary Sansan Global Pte. Ltd., the company has been rapidly expanding availability of the Sansan and Bill One solutions in Singapore and Thailand,” it said.

“This objective is being delivered on by our talented local technology team made up of some of the best software developers in the country. They gain freedom to pursue ideas while coordinating with the Japan-based staff. Our new, larger facilities in the Cebu Business Park area can accommodate up to 100 staff and include recreational breakout areas for engineers to connect with their coworkers away from the conventional office setting.”

Sansan said it would continue developing world-class products in both its home market of Japan and internationally.

B2

Companies BusinessMirror

Monday, December 11, 2023

PSE STOCK QUOTATIONS

December 7, 2023

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

ASIA UNITED 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 IREMIT PHIL STOCK EXCH SUN LIFE

1,281,965 442,489,186 105,633 135,570,261 2,362,265 491,773 37,241,392.50 3,187,500 379,862 11,281.50 135,700 6,013,354.50 20,929,972.50 15,630 97,560 38,240 65,360 513,050

-14,340 -69,046,734 -63,485,102 -781,550 -137,657 1,462,420 2,148 -549,824.50 -5,078,077 8,550 51,600 499,500

INDUSTRIAL ACEN CORP 4.59 4.6 4.56 4.65 4.55 4.6 10,775,000 49,596,910 0.54 0.56 0.55 0.58 0.55 0.58 31,000 17,380 ALSONS CONS 0.74 0.75 0.76 0.76 0.73 0.75 186,000 138,960 ALTERNERGY HLDG 37.9 38 37.5 38 37.3 37.9 1,940,500 73,110,640 ABOITIZ POWER 1.2 1.25 1.2 1.25 1.12 1.25 326,000 381,700 RASLAG 0.176 0.181 0.18 0.181 0.176 0.181 560,000 99,090 BASIC ENERGY FIRST GEN 16.68 16.7 16.7 16.8 16.66 16.68 71,700 1,199,558 FIRST PHIL HLDG 61 61.4 61.5 61.5 60.1 61.4 890 54,256 370.2 372.6 374 374 369.8 372.6 141,100 52,483,574 MERALCO MANILA WATER 18 18.2 18.1 18.1 18 18 879,100 15,893,788 PETRON 3.42 3.44 3.42 3.42 3.36 3.42 1,435,000 4,898,520 4.47 4.57 4.57 4.57 4.57 4.57 689,000 3,148,730 PETROENERGY 6.65 6.99 6.75 6.99 6.5 6.99 64,100 428,603 REPOWER ENERGY 6.12 6.15 6.09 6.28 6.08 6.15 259,700 1,595,464 SYNERGY GRID 11.42 11.46 11.5 11.5 11.4 11.4 12,600 144,502 SHELL PILIPINAS 7.4 7.42 7.45 7.45 7.4 7.42 53,200 394,558 SPC POWER 1.12 1.14 1.12 1.15 1.1 1.14 25,363,000 28,507,200 SP NEW ENERGY AGRINURTURE 1.25 1.26 1.26 1.3 1.26 1.26 7,520,000 9,627,350 AXELUM 2.3 2.32 2.3 2.32 2.25 2.32 449,000 1,030,320 CENTURY FOOD 32.4 32.6 32.5 33 32 32.6 2,227,200 72,602,805 DEL MONTE 6.92 7.15 7.38 7.38 6.88 7.14 67,400 472,196 DNL INDUS 6.36 6.37 6.21 6.4 6.2 6.37 1,133,500 7,139,312 20.75 20.8 20.8 20.85 20.7 20.8 1,362,600 28,338,985 EMPERADOR 49.2 49.5 49 49.2 48 49.2 88,400 4,291,925 SMC FOODANDBEV 0.62 0.63 0.62 0.63 0.61 0.62 3,688,000 2,274,700 FIGARO COFFEE 1.01 1.03 1.01 1.02 1 1.02 171,000 172,690 FRUITAS HLDG 156.4 157.6 156.5 158 156.1 157.6 19,180 3,025,749 GINEBRA 235.8 236.2 240 240 234.2 235.8 243,970 57,573,846 JOLLIBEE KEEPERS HLDG 1.44 1.45 1.44 1.45 1.44 1.45 983,000 1,420,650 MACAY HLDG 6 6.43 6.44 6.44 6.44 6.44 200 1,288 3.11 3.18 3.17 3.18 3.1 3.1 137,000 426,940 MAXS GROUP MG HLDG 0.096 0.098 0.098 0.098 0.098 0.098 130,000 12,740 8.04 8.06 8.2 8.2 8.02 8.04 4,537,100 36,616,608 MONDE NISSIN 9.31 9.48 9.49 9.49 9.3 9.4 57,000 535,635 SHAKEYS PIZZA 0.465 0.48 0.465 0.485 0.465 0.48 120,000 57,350 ROXAS AND CO 2.95 2.99 2.99 2.99 2.98 2.99 11,000 32,840 RFM CORP 112.1 112.8 112.4 113.4 111.7 112.8 573,490 64,495,106 UNIV ROBINA 0.49 0.5 0.49 0.5 0.49 0.5 190,000 94,600 VITARICH 3.26 3.32 3.26 3.26 3.26 3.26 1,000 3,260 VICTORIAS CEMEX HLDG 0.75 0.78 0.74 0.78 0.74 0.75 60,000 45,060 EC VULCAN CORP 0.69 0.73 0.69 0.74 0.68 0.73 180,000 128,760 5.7 5.75 5.78 5.78 5.67 5.75 143,400 823,437 EEI CORP MEGAWIDE 3.05 3.06 3.08 3.08 3.04 3.06 83,000 254,120 CROWN ASIA 1.52 1.57 1.57 1.57 1.57 1.57 6,000 9,420 3.34 3.51 3.34 3.34 3.34 3.34 1,000 3,340 LMG CORP 5.7 5.8 5.8 5.8 5.8 5.8 300 1,740 MABUHAY VINYL 5.19 5.25 5.19 5.25 5.19 5.25 21,400 111,278 PRYCE CORP 0.249 0.25 0.25 0.26 0.249 0.25 21,960,000 5,583,200 GREENERGY 1.02 1.03 1.05 1.05 1.02 1.03 903,000 937,340 IONICS 4.8 4.95 4.94 4.95 4.94 4.95 2,000 9,890 PANASONIC SFA SEMICON 1.96 2.03 2.03 2.05 2.02 2.03 292,000 592,990 1.6 1.62 1.61 1.62 1.59 1.62 133,000 212,940 CIRTEK HLDG

-24,661,370 5,800 17,990 -21,904,850.00 -352,752 16,696,962 1,438,782 -278,440 -10,485 153,243 -37,910 -39,296 17,283,310 1,269,790 4,400.00 9,060,335.00 -170,244 2,118,707 -27,172,130 -2,583,170 3,100 -87,940 175,108 -28,782,448 254,450 -423,800 0 -9,511,195.00 8,475 -17,940 -49,667,018 9,520 11,520 3,080 2,500 13,780 1,620

HOLDING & FRIMS

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LT GROUP MABUHAY HLDG PACIFICA HLDG PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER

48 126.9 7.01 101.8 30 7.92 51.3 8.28 18.44 53 22.3 69.85 57.15 1.41 2.56 0.55 167.1 2,700

0.84 640 48.1 9.78 11.04 0.41 0.38 4.46 9.26 5.15 555.5 3.24 37.75 8.76 0.113 1.16 2.75 3 0.9 825 109.4 93.35

48.05 127.5 7.42 101.9 30.1 7.95 51.45 8.55 18.46 53.7 23 69.95 57.2 1.43 2.57 0.57 172 2,720

0.85 643 48.8 9.79 11.3 0.48 0.385 4.49 9.31 5.21 557 3.54 37.8 8.79 0.127 1.39 2.81 3.9 0.94 826 111 99

47.4 130.6 7.45 104 30 7.89 50.9 8.5 18.42 53.8 23 70.6 57.05 1.42 2.57 0.66 172 2,710

0.87 659.5 48.6 9.8 11.04 0.49 0.38 4.58 9.32 5.2 551 3.24 39 8.8 0.113 1.16 2.74 3 0.94 829.5 110 93.05

49.7 130.6 7.45 104.9 30.1 7.97 51.85 8.5 18.46 53.8 23 70.6 57.35 1.43 2.57 0.66 172 2,710

0.89 661 48.6 9.81 11.04 0.49 0.38 4.58 9.32 5.2 560 3.24 39 8.82 0.113 1.16 2.8 3 0.94 830.5 111 99

47.4 126.7 7 101.7 30 7.88 50.9 8.5 18.42 53.7 23 69.8 57.05 1.42 2.55 0.55 172 2,700

0.83 638.5 48.1 9.7 11.04 0.49 0.38 4.45 9.25 5.2 550 3.24 37.8 8.76 0.112 1.16 2.74 3 0.94 823.5 108 93.05

48 126.9 7.42 101.9 30.1 7.95 51.45 8.5 18.46 53.75 23 69.85 57.15 1.43 2.55 0.57 172 2,700

0.84 640 48.1 9.78 11.04 0.49 0.38 4.46 9.31 5.2 557 3.24 37.8 8.79 0.112 1.16 2.78 3 0.94 826 111 99

26,800 3,461,450 15,000 1,325,550 78,600 62,100 723,270 375,000 20,600 210 5,900 85,830 366,220 11,000 38,000 67,000 380 190

3,579,000 228,340 251,200 3,753,600 1,800 20,000 180,000 282,000 2,979,400 38,500 177,400 45,000 2,011,200 1,408,700 50,000 4,000 49,000 4,000 5,000 452,380 195,000 50

3,034,070 147,606,935 12,093,415 36,687,698 19,872 9,800 68,400 1,261,240 27,702,913 200,200 98,292,330 145,800 76,707,160 12,381,935 5,630 4,640 136,160 12,000 4,700 374,006,765 21,563,352 4,712

PROPERTY ARTHALAND CORP 0.44 0.47 0.44 0.47 0.44 0.47 40,000 18,200 31.4 31.5 31.4 31.8 31.05 31.4 12,549,100 395,218,455 AYALA LAND 1.6 1.62 1.6 1.62 1.58 1.62 71,000 113,440 AYALA LAND LOG 8.94 9.19 8.95 8.95 8.95 8.95 10,000 89,500 ALTUS PROP 1.04 1.06 1.05 1.1 1.03 1.04 2,463,000 2,596,590 ARANETA PROP 30.6 30.65 31.35 31.6 30.65 30.65 1,287,100 40,019,995 AREIT RT A BROWN 0.65 0.67 0.65 0.67 0.65 0.67 104,000 68,000 2.5 2.52 2.51 2.52 2.5 2.52 170,000 426,340 CEB LANDMASTERS CENTURY PROP 0.295 0.3 0.3 0.3 0.295 0.3 1,440,000 427,250 CITICORE RT 2.54 2.55 2.55 2.55 2.53 2.55 878,000 2,227,550 DOUBLEDRAGON 7.95 8.07 8 8.15 7.82 8.07 161,400 1,285,906 1.19 1.2 1.19 1.21 1.19 1.19 508,000 607,790 DDMP RT 6.25 6.3 6.25 6.25 6.25 6.25 3,200 20,000 DM WENCESLAO 0.126 0.131 0.128 0.132 0.126 0.126 1,540,000 199,450 EMPIRE EAST 0.28 0.295 0.295 0.295 0.295 0.295 150,000 44,250 EVER GOTESCO 2.78 2.79 2.78 2.79 2.75 2.78 946,000 2,626,900 FILINVEST RT 0.56 0.57 0.56 0.57 0.54 0.56 764,000 428,940 FILINVEST LAND 8990 HLDG 8.35 9.02 9.02 9.02 9.02 9.02 5,000 45,100 0.53 0.55 0.56 0.56 0.54 0.56 540,000 299,260 PHIL INFRADEV 4.84 6.86 4.84 6.88 4.84 6.88 600 3,325 KEPPEL PROP 0.75 0.76 0.78 0.78 0.76 0.76 38,000 29,170 CITY AND LAND 1.98 1.99 1.99 2 1.97 1.99 6,173,000 12,246,640 MEGAWORLD 1.37 1.39 1.4 1.4 1.37 1.39 37,000 51,090 MRC ALLIED 12 12.1 12.26 12.36 11.98 12 668,600 8,042,978 MREIT RT 0.325 0.34 0.34 0.34 0.34 0.34 90,000 30,600 PHIL ESTATES 1.51 1.54 1.54 1.54 1.54 1.54 1,000 1,540 PREMIERE RT 4.79 4.8 4.78 4.8 4.72 4.79 448,000 2,132,080 RL COMM RT 15.06 15.08 15 15.08 14.92 15.06 4,650,800 69,933,950 ROBINSONS LAND ROCKWELL 1.35 1.38 1.39 1.39 1.38 1.38 4,000 5,550 3.65 3.69 3.7 3.7 3.65 3.65 60,000 221,500 SHANG PROP STA LUCIA LAND 3.3 3.4 3.3 3.3 3.3 3.3 59,000 194,700 SM PRIME HLDG 32.65 32.8 33 33.2 32.5 32.65 4,585,500 150,226,950 SOC RESOURCES 0.38 0.415 0.38 0.38 0.38 0.38 10,000 3,800 2.24 2.44 2.45 2.45 2.24 2.44 6,000 13,850 VISTAMALLS 0.8 0.84 0.8 0.8 0.8 0.8 20,000 16,000 SUNTRUST RESORT 1.61 1.66 1.61 1.67 1.61 1.61 340,000 550,410 VISTA LAND 1.68 1.69 1.68 1.7 1.67 1.69 828,000 1,391,190 VISTAREIT RT

SERVICES ABS CBN 3.6 3.75 3.6 3.75 3.6 3.75 167,000 613,750 8.24 8.25 8.24 8.3 8.23 8.25 112,600 928,453 GMA NETWORK 1,719 1,729 1,728 1,730 1,716 1,729 5,995 10,330,050 GLOBE TELECOM 1,252 1,253 1,270 1,270 1,242 1,252 38,925 48,718,895 PLDT 0.014 0.015 0.015 0.015 0.014 0.015 28,100,000 398,600 APOLLO GLOBAL 7.99 8 8.25 8.25 7.96 8 6,978,100 56,016,931 CONVERGE DFNN INC 3.05 3.1 3.05 3.25 3.05 3.06 177,000 558,620 DITO CME HLDG 2.36 2.37 2.4 2.41 2.34 2.36 2,028,000 4,786,920 NOW CORP 1.1 1.11 1.11 1.11 1.06 1.11 157,000 171,300 TRANSPACIFIC BR 0.133 0.145 0.133 0.145 0.132 0.133 2,230,000 309,560 15.4 15.72 15.12 15.4 15.12 15.4 6,500 99,536 ASIAN TERMINALS 1.42 1.43 1.45 1.46 1.43 1.43 152,000 220,510 CHELSEA 31.65 31.7 32.1 32.1 31.65 31.65 128,900 4,092,385 CEBU AIR 228.2 229 233.8 234 228 229 1,282,850 294,923,666 INTL CONTAINER 17.12 18.48 17.06 17.06 17.06 17.06 3,100 52,886 LBC EXPRESS 4.05 4.07 4.01 4.1 4.01 4.05 200,000 812,860 MACROASIA 0.5 0.55 0.5 0.5 0.5 0.5 5,000 2,500 METROALLIANCE A PAL HLDG 5.2 5.4 5.4 5.4 5.2 5.2 2,600 14,020 0.8 0.84 0.84 0.84 0.84 0.84 1,000 840 HARBOR STAR 0.375 0.4 0.375 0.4 0.375 0.4 280,000 105,750 WATERFRONT 6.67 7.3 7.3 7.3 7.3 7.3 4,300 31,390 IPEOPLE 0.465 0.47 0.47 0.47 0.465 0.465 660,000 307,150 STI HLDG 1.17 1.18 1.18 1.18 1.18 1.18 51,000 60,180 BELLE CORP 9.6 9.65 9.64 9.78 9.54 9.6 6,216,100 59,806,873 BLOOMBERRY 3.1 3.14 3.11 3.14 3.1 3.14 20,000 62,160 PACIFIC ONLINE 1.1 1.11 1.08 1.13 1.06 1.1 10,641,000 11,733,970 PH RESORTS GRP 0.57 0.59 0.59 0.6 0.57 0.57 10,669,000 6,242,750 PREMIUM LEISURE 6.6 6.61 6.5 6.7 6.49 6.61 396,400 2,634,309 DIGIPLUS PHILWEB 1.72 1.83 1.83 1.83 1.83 1.83 1,000 1,830 0.159 0.16 0.16 0.162 0.159 0.159 1,680,000 270,050 ALLDAY 1.07 1.08 1.08 1.09 1.04 1.08 3,493,000 3,745,190 ALLHOME METRO RETAIL 1.17 1.24 1.22 1.23 1.17 1.17 257,000 306,940 PUREGOLD 27.1 27.25 27.4 27.4 27.05 27.25 258,900 7,038,625 39.95 40.4 40.15 41.45 39.55 39.95 530,900 21,220,310 ROBINSONS RTL 74 79.9 71.15 76.5 71.15 76.5 29,940 2,275,815 PHIL SEVEN CORP 2.51 2.56 2.63 2.63 2.4 2.56 3,004,000 7,549,230 SSI GROUP 1.59 1.6 1.7 1.7 1.6 1.6 83,000 132,900 UPSON INTL CORP 20.2 20.5 20.1 20.5 20.1 20.5 522,400 10,630,530 WILCON DEPOT 0.222 0.228 0.228 0.228 0.228 0.228 10,000 2,280 APC GROUP MEDILINES 0.325 0.33 0.325 0.33 0.325 0.325 460,000 150,200 0.166 0.17 0.163 0.168 0.163 0.166 490,000 81,760 PRMIERE HORIZON

MINING & OIL APEX MINING 2.9 2.92 2.88 2.93 2.87 2.9 2,071,000 6,023,600 3.35 3.5 3.49 3.5 3.45 3.5 14,000 48,800 ATLAS MINING 4.95 4.98 5 5 4.86 4.98 100,000 498,870 BENGUET A 4.95 5.09 4.88 5.09 4.88 5.05 24,000 120,800 BENGUET B 2.25 2.31 2.3 2.31 2.25 2.31 375,000 856,790 FERRONICKEL LEPANTO A 0.083 0.09 0.09 0.09 0.082 0.09 2,830,000 250,350 0.083 0.084 0.083 0.083 0.082 0.083 2,020,000 167,650 LEPANTO B 0.005 0.0054 0.0055 0.0055 0.005 0.005 6,000,000 31,000 MANILA MINING A 1 1.03 1 1.02 0.98 1.02 600,000 602,060 MARCVENTURES 5.03 5.1 5.13 5.13 5.02 5.1 1,358,200 6,869,635 NICKEL ASIA 0.65 0.68 0.63 0.68 0.63 0.68 15,000 9,780 ORNTL PENINSULA 3.03 3.05 3.04 3.1 3.02 3.05 4,415,000 13,421,520 PX MINING 28.55 28.7 29.25 29.25 28.25 28.7 1,977,600 56,589,985 SEMIRARA MINING 4.44 4.59 4.39 4.42 4.39 4.42 14,000 61,630 ENEX ENERGY 0.0079 0.0083 0.0079 0.0079 0.0079 0.0079 3,000,000 23,700 PHILODRILL 3.36 3.38 3.4 3.4 3.36 3.36 27,000 91,030 PXP ENERGY

PREFFERED ACEN PREF A 1,020 1,025 1,025 1,025 1,025 1,025 200 205,000 1,060 1,070 1,070 1,070 1,070 1,070 40 42,800 ACEN PREF B 2,470 2,502 2,486 2,486 2,486 2,486 1,555 3,865,730 AC PREF AR 488 500 490 490 487 487 9,010 4,403,550 AC PREF B2R 97 98 98 98 98 98 200 19,600 BRN PREF A 31.2 32 31.2 31.2 31.2 31.2 3,001,100 93,634,320 CEB PREF DD PREF 91.55 92 92 92 91.55 91.55 440 40,390 95.05 96.7 96.7 96.7 96.7 96.7 140 13,538 EEI PREF B 936 985 944.5 944.5 936 936 2,110 1,988,635 GTCAP PREF B 959.5 970 959.5 960 959.5 960 250 239,975 JFC PREF A 22.9 26.95 26.95 26.95 26.95 26.95 100 2,695 PNX PREF 3B 200.2 249.6 249.8 249.8 249.8 249.8 10 2,498 PNX PREF 4 970.5 985 971 972 970.5 970.5 6,200 6,021,995 PCOR PREF 3A 960 970 980 980 970 970 2,590 2,526,100 PCOR PREF 3B 66.55 67.95 67.95 67.95 67.95 67.95 10 679.5 SMC PREF 2J 66 68.85 66.15 68.9 66 68.9 17,000 1,168,440 SMC PREF 2K 78 78.8 76.8 79 76.8 78.8 24,550 1,923,940 SMC PREF 2L SMC PREF 2N 77 78.8 77.95 78.8 77.95 78.8 12,570 986,312

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

-1,792,120 -18,088,950 -14,530,334 -24,720 -97,150 35,450 26,180 -1,486,045 50,866,978 -48,840 60,550 10,210,868 -402,160 -2,675,030 30,252 -1,212,140 11,700 -2,703,485 -17,747,815 349,500 -2,160,190 -1,700 -4,588,835 -237,820 -21,000 68,520 -3,597,029.00 -152,500 -24,015,465 10 -93,600,000 -3,884,315 -1,105,800 -

18,200 3,040

-2,281

0.275

5,500

-

0.345

0.74 0.98 0.64 1.52 1.02 0.189

0.75 1.02 0.66 1.79 1.03 0.21

EXHANGE TRADE FUNDS FIRST METRO ETF

83,323,590 4,770 50,810 1,570,985 35,140.00 -114,000 607,440.00 12,619 -66,860 1,333,370 85,660 2,816,480 -1,224,118 -1,336,250 20,449,892 -159,150 -13,200 -34,930,285 -327,290 1,680

3.29 3.77 3.6 3.8 3.6 3.8 5,000 7.61 8.45 7.59 7.61 7.59 7.6 400

SMALL, MEDIUM & EMERGING

CTS GLOBAL HAUS TALK ITALPINAS KEPWEALTH MERRYMART XURPAS

81,480 -33,850,020 -9,201,690 -24,330,680 -1,005,110 -2,055,648 -14,787,775 -37,821,515 5,280,934 4,700 -9,525,650 -267,815 -

98.8

98.9

0.275

0.275

0.275

0.275

20,000

0.75 0.75 0.75 0.75 114,000 85,500 0.98 1.02 0.98 1.02 703,000 712,360 0.68 0.68 0.64 0.66 218,000 141,680 1.52 1.52 1.52 1.52 5,000 7,600 1.02 1.03 1.02 1.02 595,000 607,180 0.189 0.21 0.189 0.189 1,200,000 249,860

-

99.4 99.4 98.8 98.9 3,280 325,219 79,312

www.businessmirror.com.ph

D&L optimistic about 2024 despite inflation concerns

C

By VG Cabuag

@villygc

hemical manufacturer D&L Industries Inc. expects 2024 to remain challenging, but it is optimistic that the business environment will become better as interest rates and the prices of raw materials are expected to stabilize.

“Next year, even if the conditions are similar to what we are seeing now, I don’t think interest rates will go up even more,” said company president and CEO Alvin D. Lao. He said the pace of the increase in the prices of raw materials and

labor may not be as fast as compared to what firms experienced this year.

“This year, we were hit not just with the higher interest rates; we were also hit by higher costs. A lot of raw material prices moved up. And then there were a lot of increases in

STOCK-MARKET OUTLOOK

minimum wage, labor. Another factor was for us were the (expenses for the) new plant, equipment.

“So, next year, it will still be challenging, but my assumptions are (rates and costs are) going to be the same level as this year,” Lao said.

He said one of the possible challenges next year is the impact of the expected El Niño phenomenon on the cost of raw materials, such as coconut oil and they are closely monitoring it.

He said, however, that the impact may be limited since D&L has existing agreements to pass on any changes in the cost of raw materials to its customers so its prices move in tandem with commodity prices.

D&L is also expecting to see more business activity in the next few months as more production lines

MUTUAL FUNDS

December 7, 2023

Last week

Share prices fell for the second straight week as investors continued to pocket their gains despite the steady inflation print for November.

The benchmark Philippine Stock Exchange index shed 10.41 points to close at 6,234.77 points.

The main index recorded the biggest loss during the four-day trading week on Thursday.

The country’s inflation rate further eased to 4.1 percent in November, beating consensus, from October’s 4.9 percent.

Average volume for the week fell to an average value of P3.51 billion.

Foreign investors, who cornered half of the trades, were net buyers at P73.15 million.

Other sub-indices ended mixed with the broader All Shares index fell 2.64 points to 3,329.58, the Financials index shed 29.68 to 1,705.73, the Industrial index rose 16.43 to 8,762.70, the Holding Firms index lost 6.16 to 5,912.04, the Property index declined 1.47 to 2,744.38, the Services index added 21.15 to 1,541.36 and the Mining and Oil index increased 6.99 to 9,640.50.

For the week, losers edged gainers 109 to 99 and 34 shares were unchanged.

Top gainers were Medco Holdings Inc., PH Resorts Group Holdings Inc., AgriNurture Inc., Chelsea Logistics and Infrastructure Holdings Corp., Anglo Philippine Holdings Corp., Victorias Milling Co. Inc. and Ferronoux Holdings Inc. Top losers, meanwhile, were I-Remit Inc., AbaCore Capital Holdings Inc., Keppel Philippines Holdings Inc. A, PXP Energy Corp., Easycall Communications Philippines Inc., Macay Holdings Inc. and NiHAO Mineral Resources International Inc.

This week

Share prices may go up this week, but strong buying may only happen if investors see catalysts that would brighten the country’s economic outlook.

“Investors are expected to focus on the policy meetings of the Federal Reserve and the Bangko Sentral ng Pilipinas as they look for clues on the outlook for interest rates. Hints of easing may spur optimism in the market while hints of further tightening is expected to weigh on sentiment,” Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said.

“Investors may also look towards our upcoming foreign trade, foreign investment, and OFW cash remittances data for clues on our local economy.”

Broker 2TradeAsia said both the BSP and the US Fed may maintain their policy rates.

“We caution that these are not baseline expectations and therefore likely to come down as first numbers materialize. But these positive projections signal that risk investors are likely heading to a place of more power, especially relative to where forecasts were last year,” it said.

“Chartwise, the market may retest its 10-day exponential moving average. Failure to get back above the said line would be considered as a bearish development. Also, if the market fails to get back above its 10-day moving avaerage, it may next test its 20-day and 50-day exponential moving averages. The market’s major support is seen at 6,000. Major resistance is seen at 6,400,” Tantiangco said.

in its new Batangas plant will be completed.

“A lot of our customers need to certify the new plant. A lot of them want to come down physically to walk around in the loop to make sure everything is moving. So, it really takes time,” Lao said.

He said even the existing customers of the firm that procure products from its old facilities would need to recertify D&L because of the new plant.

The company’s new Batangas plant is more than double the capacity of all of the firm’s existing facilities combined.

“It’s really setting us up for growth, not just the next year or two, but for a much longer timeframe. It’s a good foundation for us to really add a lot more volume and business,” Lao said.

NAV

One Year Three Year

Five Year

Y-T-D

per share Return*

Return

Stock Funds ALFM Growth Fund, Inc. -a

205.91

-2.62%

-3.26%

-4.14%

-0.85%

1.4128

6.75%

2.54%

0.08%

1.41%

5.1%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.8628

-3.65%

-3.18%

-6.13%

-2.56%

Climbs Share Capital Equity Investment Fund Corp. -a 0.668

-3.44%

-6.36%

-5.74% n.a

First Metro Consumer Fund, Inc. -a

-6.33%

-5.78% n.a

-4.3%

-3.05%

-2.62%

ATRAM Alpha Opportunity Fund, Inc. -a

0.6207

-5.29%

First Metro Save and Learn Equity Fund, Inc. -a 4.5284-3.98% -2.97%

-1.25%

-0.62%

First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6747-5.44% -4.09% n.a n.a MBG Equity Investment Fund, Inc. -a

82.5

12.47%

-5.84%

-6.55% n.a

PAMI Equity Index Fund, Inc. -a 41.9267

-4.6%

-3.63%

-3.34% n.a

-2.92%

437.04

-3.08%

-3.7%

-3.38%

-0.73%

-1.65%

Philequity Dividend Yield Fund, Inc. -a

1.1764

-2.26%

0.39%

-1.5% n.a

0.11%

Philequity Fund, Inc. -a

-2.69%

-1.65%

-2.28%

1.13%

-2.55% n.a n.a

-0.24%

Philequity PSE Index Fund, Inc. -a

4.4067

-3.62%

-2.74%

-2.52%

0.9%

-1.98%

Philippine Stock Index Fund Corp. -a

733.4

-3.67%

-2.91%

-2.59%

0.89%

-2.07%

Soldivo Strategic Growth Fund, Inc. -a 0.6676

-2.04%

-2.8%

-5.12% n.a

-0.96%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2745

-0.88%

-4.34%

-3.23%

-4.5%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8316-4.02%

-3.22%

-2.91% n.a

United Fund, Inc. -a

0.05%

-1.94%

-4.65%

-2.98%

-3.03%

-3.77%

-1.03%

Philequity MSCI Philippine Index Fund, Inc. -a 0.8468-1.99%

3.034

-4.48%

9.54%

Philam Strategic Growth Fund, Inc. -a 32.953

-1.79%

-2.93% -2.38%

Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 1.0322-3.88% n.a n.a n.a

-2.27%

COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,2 0.9925 n.a n.a n.a n.a n.a Philequity Alpha One Fund, Inc. -a

0.992

-6.32%

-2.87% n.a n.a

-5.2%

Philippine Stock Index Fund Corp. -a

890.18

-3.77% n.a n.a n.a

-2.13%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c99.5655-3.12% -2.54%

-2.28% n.a

-1.54%

Primarily invested in foreign currency securities (shares) -9.29%

-12.63%

-3.92%

-2.07%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.5896

ATRAM AsiaPlus Equity Fund, Inc. -b

$0.7884

7.68%

-0.87%

5.73% n.a

-7.46% 11.63%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.4755

0.9%

-3.89%

-2.36%

-1.71%

-0.62%

ATRAM Philippine Balanced Fund, Inc. -a 2.1655

4.63%

-1.7%

-0.4%

0.23%

2.86%

First Metro Save and Learn Balanced Fund, Inc. -a 2.4597

-2.78%

-2.23%

-0.62%

-1.04%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1875

-3.1%

-1.82%

-1.93% n.a n.a

-3.1% NCM Mutual Fund of the Phils., Inc. -a

1.9057

-1.6%

-1.04%

0.62%

1.3%

PAMI Horizon Fund, Inc. -a

0.63%

-2.57%

-0.3%

0.46%

1.68% 1.22%

3.4977

0.99%

Philam Fund, Inc. -a

15.324

0.29%

-3.23%

-0.83%

0.12%

Solidaritas Fund, Inc. -a

2.0011

-0.28%

-1.46%

-0.73%

0.94%

0.73%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3451

-0.29%

-2.1%

-1.95%

-0.31%

Sun Life Prosperity Dynamic Fund, Inc. -a 0.8836

-0.06%

-1.12% n.a

0.53%

-0.35%

0.47%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.93071.59%

-2.99% n.a n.a

1.69%

Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.8279-1.74%

-4.53% n.a n.a

-0.92%

Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.8067-2.88%

-4.8% n.a n.a

-1.92%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03253

-0.09%

-5.86%

-1.44%

-0.04%

PAMI Asia Balanced Fund, Inc. -b$0.8702 -4.56%

-8.38%

-1.83%

-1.45%

3.6%

0.4%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.119

4.1%

-2.32%

3.31%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.0038

1.18%

-4.49%

0.41% n.a

2.74%

7.1% 3.31%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 389.45

3.36%

1.72%

2.59%

2.15%

3.03%

ATRAM Corporate Bond Fund, Inc. -a

1.9063

1.73%

0.15%

0.56%

-0.05%

1.68%

Cocolife Fixed Income Fund, Inc. -a

3.3211

2.87%

1.14%

2.32%

3.77%

3.5%

Ekklesia Mutual Fund, Inc. -a 2.267

4.61%

-0.37%

1.27%

1.25%

3.73%

First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4445

2.23%

-0.04%

2.07%

Philam Bond Fund, Inc. -a

1.74%

0.64%

3%

4.2644

2.39%

-2.69%

1.13%

Philam Managed Income Fund, Inc. -a

1.3696

3.7%

1.32%

3.04%

1.74%

3.8%

Philequity Peso Bond Fund, Inc. -a

4.0107

4.32%

0.33%

2.8%

1.43%

3.67%

Soldivo Bond Fund, Inc. -a

2.77%

0.34%

3.26% n.a

2.96%

1.0467

Sun Life of Canada Prosperity Bond Fund, Inc. -a

3.2895

4.52%

1.05%

3.5%

1.97%

Sun Life Prosperity GS Fund, Inc. -a

3.75%

0.28%

2.68%

1.33%

3.66%

1.7578

2.23%

4.57%

Corporate Debt Vehicle (units) ATRAM Unitized Corporate Debt Vehicle, Inc. -a,3

1.0035 n.a n.a n.a n.a n.a

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $493.02

2.85%

0.7%

1.96%

2.5%

ALFM Euro Bond Fund, Inc. -a Є212.87

1.39%

-0.9%

0.04%

0.79%

1.53%

-6.91%

-1.81%

0.02%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0245 2.94%

-2.58%

-0.32% n.a

PAMI Global Bond Fund, Inc. -b$0.8443

-2.85%

-8.18%

-3.18%

-6.19%

Philam Dollar Bond Fund, Inc. -a

$2.2506

3.27%

-3.78%

0.9%

1.72%

3.24%

Philequity Dollar Income Fund, Inc. -a $0.06083

1.73%

-0.74%

1.33%

1.58%

1.89%

-0.83%

-5.09%

-0.94%

0.33%

ATRAM Total Return Dollar Bond Fund, Inc. -b$1.02581.68%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.7373

-3.88%

2.69% 1.62% 3.38%

0.58%

Money Market Funds

Stock picks

Broker Regina Capital Development Corp. has advised to trade the range on the stock of Jollibee Foods Corp. (JFC) as it performed well during the past trading days, rising 5 percent from its current levels.

“Levels have failed to hit the overbought region as investors see that the stock is already priced at a premium. Investors might want to sell at JFC’s highs and buyback at lower levels,” it said.

Jollibee’s share price closed Thursday at P235.80 apiece.

Meanwhile, it advised to sell on rallies on the stock of International Container Terminal Services Inc. (ICTSI) as it demonstrated “a notable breakout” as bullish sentiment intensified, driven by the robust influx of investors into the stock.

“With the stock exhibiting considerable strength, investors may consider selling during rallies to secure and lock in their gains.”

ICTSI shares closed last week at P229 apiece. VG Cabuag

Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 136.56

2.61%

1.75%

2.53%

2.03%

2.48%

First Metro Save and Learn Money Market Fund, Inc. -a 1.1059 3.19%

1.83% n.a n.a

Sun Life Prosperity Peso Starter Fund, Inc. -a 1.37282.75%

2.46%

1.97%

1.99%

3.01%

2.57%

Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 104.27

4.03% n.a n.a n.a

3.78%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0944

2.4%

1.34%

1.52% n.a

2.36%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 42.0387-4.21% n.a n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3972

9.05%

-1.5%

8.07% n.a n.a

13.4% Sun Life Prosperity World Income Fund, Inc. -a,1

0.974 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 $0.7836-2.98%

-7.18% n.a n.a

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

1 - Launch date is August 22, 2023.

2 - Launch date is October 6, 2023.

-0.81%

c - Listed in the PSE.

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.news.businessmirror@gmail.com

Banking&Finance

‘High inflation, interest rates may dull growth’

By Rizal Raoul S. Reyes @brownindio

E

XECUTIVES of the Manulife Investment Management and Trust Corp. (MIM PH) believe inflation and interest rates would continue to dull the economy’s gears.

“We should continue to monitor factors that will drive inflation, such as commodity prices, particularly rice and geopolitical risks. We should also continue to monitor growth components, as reliance on government spending to fuel growth is not sustainable,” a statement quoted MIM PH executive Jean Olivia De Castro. “The country’s high inflation and interest rate environment will continue challenging growth.”

Despite a rebound in the third quarter, household consumption has steadily declined every quarter since last year as high inflation erodes households’ purchasing power, according to De Castro, head of MIM PH’s fixed income unit.

Similarly, she said high interest rates discouraged the private sector from borrowing, which dampened private investment.

“As we don’t expect the macroeconomic backdrop to change drastically over the next quarter, there remain downside risks to growth in the next few quarters,” De Castro explained.

Government measures

DE Castro said the Bangko Sentral ng Pilipinas (BSP) has done a lot to control inflation. She noted the 450 basis points of rate hikes in the current tightening cycle, which brought the policy rate up to 6.5 percent—the highest in Asia (same as India).

According to De Castro, the BSP’s hawkish bias in its statements help anchor inflation expectations, emphasizing its willingness to hike should inflation reaccelerate.

“As the source of inflation is mainly supply-side driven, non-monetary measures are needed and have a faster effect in bringing down inflation,” she said.

“For its part, the government has been active in implementing non-monetary measures, which include a cap

on rice prices, subsidies and managing the supply of essential commodities through imports, among others,” de Castro added.

MIM PH Equities Head Mark A. Canizares said rice and Christmas spending could put upward pressure on inflation. Rice prices are up around 7 percent in November, driven most likely by the lifting of the cap imposed by the government.

“Meanwhile, Christmas is quite a significant spending season for the Philippines and could put upward pressure on prices monthly,” Canizares said.

Consensus outlook

GENERALLY speaking, the MIM PH executive said, the consensus outlook on inflation is that it will experience a downward trend soon. If this is correct, he said, interest rate policies by the BSP will likely be kept stable, which would signal that interest rates may have already peaked and people could look further ahead for a more pro-growth monetary stance in 2024.

“If interest rates fall, this is typically positive for capital markets such as Equities. Lower interest rates provide more room for corporations to expand and more propensity for consumers to spend, which will translate to higher economic growth and activity, potentially leading to a more robust equities market in 2024,” Canizares explained.

With the BSP’s focus tilted to inflation rather than growth and with inflation still forecasted to remain above its target range, de Castro expects the BSP to keep its monetary policy tight and to consider cutting only later by the second quarter to the third quarter next year, provided we see a continuous deceleration in inflation.

For now, the BSP continues to highlight upside inflation risks, de Castro said.

“And with inflation still forecasted to remain above its target range, we expect the BSP to keep its monetary policy tight and to consider cutting only later by the second quarter to the third quarter next year, provided we see a continuous deceleration in inflation.”

GSIS caps ‘23 with ₧80B in income, up by 117%

T

HE Government Service Insurance System (GSIS) reported a net income of P80 billion for the first 10 months of the year, representing an increase of 117 percent from the P37 billion in the same period the previous year.

The improved profitability stemmed from strong revenues mainly in income from financial assets, which surged to P29 billion, or a 344-percent increase year on year, a statement issued by the GSIS read.

In addition, income from investment property climbed by 142 percent to P8 billion from the revaluation gains of approximately 12,000 accounts appraised as of October this year, the statement added. Income derived from general insurance activities expanded by 7 percent, amounting to P6.2 billion as a result of an active marketing drive, according to the GSIS. Social insurance premiums grew by 8 percent to P10 billion arising from increased membership and salary adjustments, it added.

“We have maintained prudence in our expenses, which totaled P8.2 billion, marking an 8-percent reduction compared to the budget set for October 2023,” president and general manager Jose Arnulfo A. Veloso was quoted in the statement as saying. “In fact, during the first 10 months of 2023, the pension fund’s expense loading was at 3.4 percent, way below the 12-percent Charter limit.”

As of end-October 2023, the total assets of the GSIS stood at P1.6 trillion, posting a 4.4-percent increase from last year. The GSIS has also extended its fund life to 35 years (until 2058), an increase of five years from the last assessment in 2021.

“A longer fund life enables us to fulfill our responsibility of delivering benefits to our members and retirees on time. As a financial institution, our primary focus is to increase the contributions of our members by seizing strategic investment opportunities,” Veloso said.

The GSIS continues to align its investments with the country’s “growth story” focusing on critical sectors like real estate, infrastructure, food, energy, and mining. By the end of the first nine months of the year, the total investment in these domestic sectors amounted to P1.3 trillion, representing an 11 percent growth. Global investments witnessed a 5 percent increase at P185 billion.

According to Veloso, the GSIS remains committed to support the four key sectors known as the “4Ps”: pabahay (housing); power (energy); pagkain (food); and, pagamot (healthcare).

“These sectors are fundamental to the government’s socio-economic agenda.

Investing in them equates to a direct investment in the welfare and future of our nation and the Filipino,” he added.

Rizal Raoul Reyes

BusinessMirror

Editor: Dennis D. Estopace • Monday, December 11, 2023

Deep capital market to serve as ‘spare tire’–BSP governor

W

By Cai U. Ordinario

@caiordinario

ITH Christmas just around the corner, the Bangko Sentral ng Pilipinas (BSP) Governor bared his wishes, particularly in deepening the capital markets.

In a presentation during the 119th Meeting of the Capital Market Development Council (CMDC), BSP Governor Eli M. Remolona Jr. said there is a need to deepen the capital market to create a “spare tire” for the country.

This is based on the recommendations of former US Federal Reserve Chairman Alan Greenspan in 1999 regarding the 1997 Asian Financial Crisis when he said a “spare tire” could have cushioned the impact of the crisis. “[My] wish list for Christmas, one, to have a deeper capital market [and] two, for the inflation rate to stay within the target range,” Remolona recently told reporters.

Efforts to deepen the capital markets have been underway in the region. In terms of the stock market and corporate bond market as a percentage of GDP in 2022, the Philippines trails its Asean counterparts

except for Indonesia.

Based on his presentation at the CMDC, Remolona said deepening the capital market means opening the corporate bond market to single-A and triple-B borrowers.

Currently, Remolona said the country’s corporate bond market consisted of triple-A or double-A. Single-A bonds account for the smallest share. This could be termed as a “Lake Wobegon corporate bond market.”

Lake Wobegon is a fictional town created by Garrison Keillor. The town is the setting for the segment “News from Lake Wobegon” for a radio program in the novel.

Remolona, quoting Keiller on Lake Wobegon: “All the women are strong, all the men are good-looking and all the children are aboveaverage.”

In terms of the stock market, Remolona said better enforcement of insider trading rules are in order.

He said there are times when a listed firm’s stock price does not react to the public release of significant news.

“This would suggest that insiders had already traded on the news before its release,” Remolona said in a presentation.

Citing the work of Hong Kong University Professor Uptal Bhattacharya, Remolona said the study found that 38 out of the 87 countries with insider trading laws did not enforce them.

The BSP governor added that Bhattacharya also found that the cost of equity financing is significantly lower in the 38 countries.

Meanwhile, Remolona said also needs to join the global shift to equity index and emerging market bond exchange-traded funds (ETFs).

He shared that the big three in index funds are BlackRock, Vanguard and State Street. Together, Remolona said, they are the largest shareholders in 88 percent of Standard & Poors 500 firms and manage the biggest ETFs. “The top three emerging market bond ETFs are by JP Morgan, Barclays and Invesco,” the central bank governor said. “Philippine markets are not included in any of the major global equity ETFs or emerging market bond ETFs.” In his column for the BusinessMirror, Santiago F. Dumlao Jr. said the CMDC is a government-private

sector voluntary organization of major institutional stakeholders created to promote the country’s capital market development.

Dumlao, a founding director and convenor of the Association of Credit Rating Agencies in Asia, said the CMDC created the Capital Market Development Blueprint (CMD Blueprint). The latter is a program of “what to do,” integrating the policies, projects and related activities required to pursue their objectives.

The current Third CMD Blueprint covers the period 2019 to 2025.

According to the Department of Finance, the CMDC include top officials from the BSP, the Bureau of the Treasury, the Securities and Exchange Commission, the Insurance Commission, the Bankers Association of the Philippines and the Philippine Stock Exchange.

The members also include representatives of the Philippine Dealing System Holdings Corp. (PDS Group), the Philippine Dealing and Exchange Corp., the Investment Houses Association of the Philippines and the Philippine Life Insurance Association.

Completing the list are: the Philippine Insurers and Reinsurers Association; the Philippine Federation of Pre-Need Plan Co. Inc.; the Philippine Association of Securities Brokers and Dealers Inc.; and, the Fund Management Association of the Philippines.

Perspectives Insurance transformation: Modernizing the actuarial function

A

S the insurance industry continues to evolve at an unprecedented pace, firms are reviewing their front, middle and back-office functions to support growth strategies and deliver against business objectives. Insurance leaders acknowledge the important role of the actuarial function, as they look to improve processes, enhance risk strategies and deliver operational excellence.

The actuarial function is central to the insurance proposition.

Actuaries not only allow insurers to properly assess and price policy risk, but they also play a key role in helping insurance organizations manage their own enterprise risks and opportunities and optimize capital. In addition, leaders are looking to their actuaries to expand their support into evolving areas such as quantifying ESG risk, financial planning and analysis enhancements, artificial intelligence (AI) integration and identifying new market opportunities. Insurers want their actuaries to be delivering better insights, across a broader range of topics that are more aligned to the business.

How can actuaries get organizations closer to the customer?

The actuarial function can help insurance organizations unlock deep insights into their customers and enhance customer experiences.

Actuaries are using enterprise data to better calculate customer lifetime value, enabling the business

to tailor their strategies based on value. Others have used their data science capabilities to more accurately segment their customer markets in order to shape their marketing efforts.

Making this a reality, however, will require four things to come together—perspective, data, skills and technology. Actuaries will need to understand what insights the business requires in order to drive their strategy; they will need the right data, skills and capabilities to help them unlock those insights; and they’ll need the right technologies and tools to help the business visualize and understand the insights they are providing.

Five considerations when modernizing the actuarial function: n Set your vision and align with the business strategy. The actuarial function is difficult to transform in small, isolated steps. It should be embedded within a wider finance transformation and aligned to the overall strategy of the business.

Chief Actuaries should be thinking about what problems they are trying to solve for the business, and then looking at their role in the full end-to-end process and value chain to see how they can enable that future state operating model. n Master the data. Data is one way for Finance to unlock business intelligence and deliver insights and value. Consider the enterprise data requirements—the information needed to deliver value, in-

cluding the traditional financial data—to identify priority areas and potential areas of risk. The key isn’t just in controlling the data, but the ability to standardize it. n Understand the technologies. Actuarial transformation must be business-led and techenabled. That means starting with the problem that leaders are trying to solve for the business and then selecting the relevant technologies that can help you solve those problems. Many firms are automating spreadsheets, consolidating multiple models and platforms, and re-designing (or replacing) legacy systems to improve speeds, reduce manual intervention and have better controls and governance across the process. n Transform the people. Actuaries love what they do. In fact, the job is frequently ranked amongst the most attractive in the world.

Yet there is tight competition for actuaries—particularly those with the key business and communications skills needed in today’s environment. Actuaries want to deliver valuable and transformative insights to the business using the latest technology enablers, and they are looking at better ways to optimize what was previously manual and complex workflows. n Manage the change. One key challenge for CFOs and Chief Actuaries is in achieving sustainable transformation while successfully maintaining operations. That

requires a clear transformation roadmap that outlines practical and incremental steps along the journey, supported by robust project management skills to ensure the program is delivered within timeframes and cost.

Transformation never stops.

Neither do we.

KPMG professionals believe transformation starts with people.

Our global network of experienced insurance professionals provides clients with deep industry knowledge, actionable insights and implementation expertise, helping to realize the full potential of their people and technology, and working together to achieve successful transformation. Because when people and technology are in harmony great things happen.

The excerpt was taken from the KPMG Insight: https://kpmg.com/xx/en/home/insights/ 2023/11/actuarial-transformation.html. © 2023 KPMG Int’l Ltd. is a private English company limited by guarantee. R.G. Manabat & Co., a Philippine partnership, is a member firm of a global organization of independent member firms affiliated with KPMG Int’l Ltd. All rights reserved. E-mail ph-kpmgmla@kpmg.com or visit www.home.kpmg/ph.

This article is for general information purposes only and should not be considered as professional advice to a specific issue or entity. The views and opinions expressed herein are those of the author and do not necessarily represent the BusinessMirror, KPMG International or KPMG in the Philippines.

Solon flags govt inaction on recurring issues delaying ODA-funded projects

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HE government’s failure to address recurring issues that persistently delay much-needed overseas development assistance (ODA) projects could slow down economic development, according to Sen. Win T. Gatchalian.

“Timely execution of ODA projects not only addresses pressing developmental needs but is also a commitment to responsible governance,” Gatchalian was quoted in

a statement his office issued over the weekend.

“Sinisiguro nito na maayos na ginagamit ang perang pinaghirapan ng mga taxpayer, na nagreresulta sa konkreto at pangmatagalang pagpapabuti sa imprastraktura, kalusugan at kabuuang kalagayan sa buhay,” he added. [Such ensures that hard-earned funds of taxpayers are used well, resulting in concrete and sustained improvements in infrastructure, health and

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overall quality of life.]

During the recently held Congressional Oversight Committee on the Official Development Assistance meeting, co- chaired by Gatchalian and Pampanga 2nd District Rep. Gloria M. Arroyo, the senator noted that most recommendations to address delays in ODA project implementation involve close coordination among implementing agencies.

“Looking at some of the recommendations by the National Economic Development Authority (Neda), these issues on delays are within the control of the executive department and should be part of the day-today activities of the implementing agencies,” he lamented, citing the prolonged processing of government permits as an example that hounds some ODA projects.

Gatchalian also flagged the recur-

ring issue of right-of-way as another reason for delays in completing certain ODA projects.

“It is disappointing that normal responsibilities cannot even be fulfilled. Expected na alam nyo na ’yung batas at alam nyo yung proseso,” said Gatchalian, addressing implementing agencies such as the Department of Public Works and Highways and the Department of Transportation. [It is expected that

you already know the law and know the process.]

“This should not be the case anymore. This is expected of any implementing agency, how come these problems are recurring?”

According to the Neda, as of December 2022, 48 active ODA-funded projects with reported delays were identified as either behind schedule, with incomplete output, or simply terminated. Butch Fernandez

B4 Monday, December 11, 2023

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A liquid carbon dioxide containment unit stands outside the fabrication building of Glenwood Mason Supply Company, April 18, 2023, in the Brooklyn borough of New York. AP/John Minchillo

What is carbon capture and why does it keep coming up at COP28?

By Michael Phillis

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tors where there is a higher cost to deploy,” said Jessie Stolark, executive director of the Carbon Capture Coalition, an industry advocacy group.

Investment is picking up. The EPA is considering dozens of applications for wells that can store carbon. And in places like Louisiana and North Dakota, local leaders are fighting to attract projects and investment.

Even left-leaning California has an ambitious climate plan that incorporates carbon capture and removing carbon directly out of the air. Leaders say there’s no other way to get emissions to zero.

The Associated Press

he future of fossil fuels is at the center of the United Nations climate summit in Dubai, where many activists, experts and nations are calling for an agreement to phase out the oil, gas and coal responsible for warming the planet.

On the other side: energy companies and oil-rich nations with plans to keep drilling well into the future.

In the background of those discussions are carbon capture and carbon removal, technologies most, if not all, producers are counting on to meet their pledges to get to net-zero emissions. Skeptics worry the technology is being oversold to allow the industry to maintain the status quo.

“The industry needs to commit to genuinely helping the world meet its energy needs and climate goals—which means letting go of the illusion that implausibly large amounts of carbon capture are the solution,” International Energy Agency Executive Director Fatih Birol said before the start of talks.

What exactly is carbon capture?

Lots of industrial facilities like coal-fired power plants and ethanol plants produce carbon dioxide.

To stop those planet-warming emissions from reaching the atmosphere, businesses can install equipment to separate that gas from all the other gases coming out of the smokestack, and transport it to where it can be permanently stored underground. And even for industries trying to reduce emissions, some are likely to always produce some carbon, like cement manufacturers that use a chemical process that releases CO2.

“We call that a mitigation technology, a way to stop the increased concentrations of CO2 in the at-

mosphere,” said Karl Hausker, an expert on getting to net-zero emissions at World Resources Institute, a climate-focused nonprofit that supports sharp fossil fuel reductions along with a limited role for carbon capture.

The captured carbon is concentrated into a form that can be transported in a vehicle or through a pipeline to a place where it can be injected underground for longterm storage.

Then there's carbon removal.

Instead of capturing carbon from a single, concentrated source, the objective is to remove carbon that's already in the atmosphere.

This already happens when forests are restored, for example, but there’s a push to deploy technology, too. One type directly captures it from the air, using chemicals to pull out carbon dioxide as air passes through.

For some, carbon removal is essential during a global transition to clean energy that will take years. For example, despite notable gains for electric vehicles in some countries, gas-fired cars will be operating well into the future.

And some industries, like shipping and aviation, are challenging to fully decarbonize.

“We have to remove some of what’s in the atmosphere in addition to stopping the emissions,” said Jennifer Pett-Ridge, who

Who’s against it?

An activist holds a sign reading “no carbon markets” during a demonstration at the COP28 UN Climate Summit, Friday, December 8, 2023, in Dubai, United Arab Emirates. AP/Peter Dejong

leads the federally supported Lawrence Livermore National Laboratory’s carbon initiative in the U.S., the world's second-leading emitter of greenhouse gases.

How is it going?

Many experts say the technology to capture carbon and store it works, but it’s expensive, and it’s still in the early days of deployment.

There are about 40 large-scale carbon capture projects in operation around the world capturing roughly 45 million metric tons of carbon dioxide each year, according to the International Energy Agency. That’s a tiny amount— roughly 0.1 percent—of the 36.8 billion metric tons emitted globally as tallied by the Global Carbon Project.

The IEA says the history of carbon capture “has largely been one of unmet expectations.” The group analyzed how the world can achieve net zero emissions and its guide path relies heavily on lowering emissions by slashing fossil fuel use. Carbon capture is just a sliver of the solution—less than 10

percent—but despite its comparatively small role, its expansion is still behind schedule.

The pace of new projects is picking up, but they face significant obstacles. In the United States, there’s opposition to CO2 pipelines that move carbon to storage sites.

Safety is one concern; in 2020, a CO2 pipeline in Mississippi ruptured, releasing carbon dioxide that displaced breathable air near the ground and sent dozens of people to hospitals. The federal government is working on improving safety standards.

Companies can also run into difficulty getting permits. South Dakota regulators this year, for example, rejected a construction permit for a 1,300-mile network of CO2 pipelines in the Midwest to move carbon to a storage site in Illinois.

The technology to remove carbon directly from the air exists too, but its broad deployment is even further away and especially costly.

Who’s supporting carbon capture?

The American Petroleum Insti-

tute says oil and gas will remain a critical energy source for decades, meaning that in order for the world to reduce its carbon emissions, rapidly expanding carbon capture technology is “key to cleaner energy use across the economy.” A check of most oil companies' plans to get to net-zero emissions also finds most of them relying on carbon capture in some way.

T he Biden ad m i n i st rat ion wants more investment in carbon capture and removal, too, building off America's comparatively large spending compared with the rest of the world. But it’s an industry that needs subsidies to attract private financing. The Inflation Reduction Act makes tax benefits much more generous. Investors can get a $180 per ton credit for removing carbon from the air and storing it underground, for example. And the Department of Energy has billions to support new projects.

“What we are talking about now is taking a technology that has been proven and has been tested, but applying it much more broadly and also applying it in sec-

Some environmentalists argue that fossil fuel companies are holding up carbon capture to distract from the need to quickly phase out oil, gas and coal.

“The fossil fuel industry has proven itself to be dangerous and deceptive,” said Shaye Wolf, climate science director at Center for Biological Diversity.

There are other problems. Some projects haven’t met their carbon removal targets. A 2021 US government accountability report said that of eight demonstration projects aimed at capturing and storing carbon from coal plants, just one had started operating at the time the report was published despite hundreds of millions of dollars in funding.

Opponents also note that carbon capture can serve to prolong the life of a polluting plant that would otherwise shut down sooner. That can especially hurt poorer, minority communities that have long lived near heavily polluting facilities.

They also note that most of the carbon captured in the US now eventually gets injected into the ground to force out more oil, a process called enhanced oil recovery.

Hausker said it's essential that governments set policies that force less fossil fuel use—which can then be complemented by carbon capture and carbon removal.

“We aren’t going to ask Exxon, ‘pretty please, stop developing fossil fuels,’” he said.

Style

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LESLEY MOBO COLLECTION

Editor: Gerard S. Ramos • Monday, December 11, 2023

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JOEY SAMSON COLLECTION

‘Paskong TernoCon at SM Aura’: An enchanting evening London-based, proudly Aklan native.

DREAMING OF A WHITE(WORK) CHRISTMAS

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FTER three editions, TernoCon, the ternomaking contest and mentoring convention spearheaded by the Cultural Center of the Philippines and lifestyle behemoth Bench, is reaching out to a wider audience.

On December 9, Saturday, the creative initiative ventured out of its home at the CCP and staged “Paskong TernoCon 2023” at the SM Aura Premier in Taguig City. It was a welcome collaboration between SM Supermalls, Bench/ lifestyle + clothing, and the CCP through its Cultural Exchange Department.

“The main takeaway here is that it’s possible to wear a terno every day, not just on special occasions,” SM Supermalls president Steven Tan is quoted as saying to CNN Philippines.

PASKONG COUTURE

THE enchanting evening of couture and culture is an inspired idea to hold it at a commercial space, making it more accessible to a lot of people. Notable designers Joey Samson and Lesley Mobo were tapped to showcase collections. “‘Paskong TernoCon’ is a celebration of Filipino design in a Christmas context. So it’s the Philippine dress [terno] and the Philippine barong set against the Philippine-themed Christmas décor of SM Aura Premier and Christmas music,” explains Gino Gonzales, the artistic director. “But this time, we don’t have a contest for this. We selected two

former mentors to show a 20-piece collection each.

The biennale TernoCon only allows for a 10-piece collection per mentor.”

The design and styling is specifically done in the context of a unique Pinoy Christmas.

“It’s also the first time that a TernoCon show is being done outside of the CCP. It’s been a dream to bring it to a wider live audience. And we were fortunate that SM Aura Premier was committed to make that happen,” adds Gonzales.

“I have a high admiration for the design process and work ethics of both Joey and Lesley. Along with a few other designers who I’ve been observing for many years, I think these two have very strong points of view. They have something to say as designers, and they stick to their respective messages,” Gonzales continues.

Mobo and Samson were selected because they don’t approach things the same way. They are quite opposites, actually. Samson excels in tailoring and sees the world in white, off-white, gray and black.

Meanwhile, Mobo is an adept draper and sees the world in full color.

“I encouraged both to play on their strengths.

And for each to show a facet of the Christmas season without being too literal about it. Joey to communicate timeless elegance and use whitework found in piña, lace, etc. And to keep things quiet,” Gonzales says.

“Lesley...to communicate the loud and joyful facet of the season and to use folk crafts as an inspiration.

And, in contrast to Joey’s whitework, to use bold tropical prints.”

FROLIC IN THE TROPICS

Mobo’s collection is a continuation of his “Tropical Ternos,” an exploration of “tropical” sensibilities and celebration of folk crafts and exuberant colors. He also showcased his prowess in draping—a process of positioning and pinning fabric directly on a dress form—which is a key element in his design work.

“The textiles are composed of bold, printed materials in tulle, georgette and jacquard. The look is very colorful, while my techniques are mainly handdraping and layering,” says Mobo.

His collection is full of festive prints of florals and polka dots and clashing colors so vivid they illuminated the runway.

“These are rural ternos. Very barriotic,” quips the

Samson’s collection is a contemporary take on “whitework”—needlework done in white thread over white fabric. “I’m sure you might have noticed that some of the pieces are from my original collection at TernoCon 2023. I added a few pieces when we did TernoCon at Rakuten Fashion Week Tokyo 2024 Spring/Summer. This time, when they asked us to do it again, I had to do other pieces,” he shares.

“The [inspiration] basically started with the life and letters of Jose Rizal. And then since it became three collections in all, it evolved into something that we can be proud of as Filipinos—our culture, the craftsmanship,” says Samson.

The opening number was a dress worn by actress Janine Gutierrez. “It’s basically made from a lowly cotton plaid material, and I employed flattened accordion pleats toward the serpentine skirt,” he notes.

“For actor David Licauco, it’s something very modern. If you noticed, it’s perforated jersey material for the tunic and the pants, so the treatment I looked at it as the same technique as the callado. I wanted the clash of very sporty or casual linen as to something that’s very crafty. It’s handwoven callado and I also beaded it,” Samson shares.

“I used a lot of vintage jewelry, from Unang Panahon, because I want a very modern silhouette tapos biglang may heritage jewelry,” he says.

Samson also uses Aklan piña, which has recently been inscribed in the Unesco Representative List of the Intangible Cultural Heritage of Humanity.

“It’s nice that more people became more aware of it because it became accessible. It’s a very expensive material so not a lot of people can afford or appreciate it,” says Samson. “Feeling nila, napaka-elitist ng material. And it’s not readily available. When you order from weavers, it takes forever to arrive especially when you customize the embroidery.” n

TERNOCON STALWARTS

Designer Lesley Mobo, Ben Chan, CCP vice chairperson Margie Moran, First Lady Liza Araneta Marcos, SM Investment Corp.’s Tessie Sy-Coson, Taguig City Mayor Lani Cayetano, SM Supermalls president Steven Tan and designer Joey Samson.

IMAGES COURTESY OF @MINTPRODTEAM @JANNINEISHHHH @_ZODOMINGO

This Heaven is a fighter

THERE is no doubt that new Ginebra San Miguel Calendar Girl Heaven Peralejo is a looker. But she is also a fighter who has survived a career slump, her mom having cancer, and many other challenges. “I really love my job and I was meant for this so kahit ano pang itapon nila sa akin, ilalaban ko ’to [no matter what they say about me, I will fight for this],” said the 24-year-old actress.

Peralejo admitted that before she did Nanahimik ang Gabi, for which she would later win awards and recognition as an actress.

“I was thinking kung ano ba ang susunod na work ko.

I was afraid na baka di na ako gustong makita ng mga tao [maybe the public wouldn’t want to see me anymore]. Then I got the project [Nanahimik ang Gabi] and I realized that ’no, I am not going to quit. I’m going to fight for my job.’ I am grateful that I didn’t give up.”

Yes, look at her now. Peralejo is not only booked and busy, but she has also completed her Business Management

degree from Southville International School.

Peralejo feels a connection with Ginebra San Miguel because when she turned 18, the first drink she had was “gin bilog” with kalamansi juice.

With the theme “Philippine Fiesta,” the 2024 edition of the Ginebra San Miguel Calendar showcases Peralejo in six vibrant fiesta layouts—Panagbenga, Lantern, Higantes, Pintados, Kadayawan, and Masskara.

What Peralejo appreciated about Ginebra San Miguel was that they never told her to go on a diet or lose/gain weight.

She took it upon herself to get into shape with a mixture of Muay Thai, running, tennis and walking every day. She also strictly followed OMAD, or the one meal a day diet.

“I was, too, hard on my self, I wasn’t seeing results but Ginebra talked to me. They said you already got it, ‘We love you for who you are and we want to show that it’s more than just a body type, it’s about the confidence.’ And that really helped,” said Peralejo.

Personally, my favorite layout is where Peralejo’s look draws inspiration from the Pintados Festival in Leyte. It’s where she is showcased alongside intricate body paintings.

Pintados is a festival that pays homage to the pre-Spanish tradition of warrior tattooing, where the bravest warriors showcased their valor through intricate ink designs. I like this layout because Peralejo is both sexy and strong and this is the woman she represents herself to be.

By the way, this edition of the Ginebra San Miguel calendar also has a QR code that consumers can scan using their smartphones to see Heaven Peralejo’s calendars come to life, showing behind-the-scenes videos of her calendar girl photoshoots, and a special message to

her fans and followers.

THE SCENTS OF K-POP IDOLS

W.Dressroom is known as the fragrance brand of K-pop idols. Jungkook of BTS is said to use April Cotton, a citrus musk scent that mixes the freshness of lime with the soft and sweet scent of vanilla.

Kang Daniel was spotted using the variant No. 2 Coconut.

Han Seung-woo and Choi Byung-chan, formerly from the group Victon, like No. 49 Peach Blossom.

W.Dressroom is now available in the Philippines at SM Megamall, SM Clark, SM Southmall DS, SM North Edsa, SM Calamba, SM Bacoor, SM Fairview, SM DS Cebu, and Pampanga.

These would make great holiday gifts and stocking stuffers. There are over 30 captivating scents to choose from.

Prices start at P199 for the 30ml, P349 for the 70ml, P599 for the 150ml, and the FEBCLEAN Collection for only P649.

Aside from No. 97, the other scents are: n No.40 Chic Amber. An aqua scent that blends musk and green apple. n No.45 Morning Rain. This will remind you of the clean, calm and moist scent of blooming flowers from a refreshing breeze at dawn. n No.49 Peach Blossom. This is a sweet blend of fresh and juicy sweet peaches with hints of floral. n No.214 Hazelnut in Chocolate. This has the aroma of creamy chocolate cake and a sweet cup of chocolate latte. n No.314 Strawberry in Cream. This scent is sweet, like a bite of strawberry cake, with fragrant strawberries and soft vanilla cream.

Heaven Peralejo is the 2024 Ginebra San Miguel Calendar Girl (left). W.Dressroom 97 is said to be the fragrance of BTS’ Jungkook. IMAGE CREDITS: GINEBRA SAN MIGUEL AND W.DRESSROOM

Monday, December 11, 2023

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MOTOLITE CRANKS UP SUSTAINABILITY PUSH WITH SHIFT TO SOLAR PANELS

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OTOLITE, the leading and most trusted battery brand in the Philippines, is also being recognized as among the country’s most eco-friendly energy users with its continued shift to sustainable solar panels in powering its manufacturing and retail facilities.

Motolite has already installed around 7,600 kilowatt peak (kWp) of photovoltaic (PV) systems in its facilities, translating to about 9.66 million kilowatt hours (kWh) in electricity savings and elimination of 2,346 tons of CO2 emissions annually.

KWp is the maximum output of a solar panel system getting optimal solar

radiation.

Motolite’s battery production plants in Bulacan alone have an installed PV system capacity of 7,472 kWp, cutting its carbon footprint by 2,346 tons of CO2.

“Motolite deserves recognition as one of the most environment-friendly brands in the world due to its investments in making its operations sustainable. Its use of solar panels in powering its stores and manufacturing facilities complements its recycling initiatives for used lead acid batteries (ULAB), which is a great example of urban mining. Definitely, Motolite is a good private sector model that the public should support,” said Dr. Jesus L. Arranza,

chairman of the Federation of Philippine Industries.

Over the next six months, Motolite expects to complete the installation of solar panels in several facilities that would further cut its greenhouse emission by 1,177 tons of CO2 and translate to 5,047,016 in electricity savings.

Included in the pipeline is Evergreen Environmental Resources Inc.’s state-ofthe-art recycling facility with a target PV system capacity of 1,250 kWp. This will yield 1,460,000 kWh in energy savings and elimination of 340.38 tons of CO2 emissions. Evergreen is the accredited ULAB recycler of Motolite.

Due for completion in September is the 636-kWp roof-mounted solar installations yielding 812,490 kWh electricity savings and 189.42 tons less CO2 emissions.

Expected to be completed by March 2024 is the first ground-mount solar installation with a design capacity of 2 MWp. This will cut Motolite’s carbon footprint by 562.2 tons of CO2 and use of 2,411,409 kWh electricity from the grid.

The installation of PV panels on the parking lot of Philippine Batteries Inc.’s plant in Bulacan, meanwhile, will be completed by December. It will have a capacity of 292.6 kWp, translating to 363,117 kWh of electricity savings and 88.66 tons fewer CO2 emissions.

Robinsons Hotels and Resorts has new SVP-Business Unit General Manager

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OBINSONS Hotels and Resorts recently welcomed home the multi award-winning hotel General Manager Barun Jolly as its new Senior Vice President—Business General Manager who will lead one of the biggest and most diversified hotel portfolio in the country.

Once the General Manager of Crowne PlazaManila Galleria and Holiday Inn Manila until 2022, Barun carries with him more than 25 years of his signature progressive leadership and management style across various five-star establishments and international brands in India, Indonesia, Vietnam and the Philippines, such as the Crowne Plaza,Grand Hyatt, The Oberoi, Hyatt Regency and Radisson Blu. “I am very happy to be back home in Manila, most especially with RHR. This is an exciting time to join back in because of the developments happening with its brands and outlets. RHR is poised to be a truly world class hospitality company,” said Barun.

As SVP-BUGM of the hotel group, Barun will be handling all of Robinsons Hotels’ local brands including the essential value Go Hotels and Go Hotels Plus, boutique type Summit Hotels and Resorts, mid-luxury Grand Summit and the first and only Filipino five-star luxury hotel—Fili.

BARUN JOLLY, Robinsons Hotels and Resorts’ new Senior Vice President—Business General Manager.

He will also oversee the performance of RHR’s international brands that include Dusit Thani Mactan Cebu, Crowne Plaza Manila Galleria, Holiday Inn Manila, and the new addition into the fold, The Westin Manila.

His strategic insights from his expansive Southeast Asian hospitality experience and excellent commercial acumen are set to bring Robinsons Hotels and Resorts towards greater heights of success.

He holds a master’s diploma in Business Administration, Major in Sales & Marketing

from Symbiosis Distance Learning; a Diploma in Hotel Management from Institute of Hotel Management (NCHM) in Jaipur. However, his love for learning earned him an additional certification in hospitality business acumen’ HSMAI with 98 percent score in the United States; a Cornell executive development program marketing academy and IHG Revenue Academy His accolades include being awarded twice for 2015 and 2016’s most coveted IHG Ten Club Award for those successfully exceeding all 10 winning metrics; Hospitality Superstar by Asia Pacific Tourism and Travel Federation in July 2019; and the Most Enterprising General Manager of The Year issued by World Travel brands.

Barun’s timely arrival into the group is also welcomed by Robinsons Hotels & Resort’s recent wins in the Philippine Property Awards 2023 with three awards for Fili Hotel as Best Architectural Design, Best Interior Design and Best Hotel Development, and the Best Operational Hospitality Portfolio for the entire group of Robinsons Hotels.

“I am very much excited working with some of the industry’s finest here in RHR. I’ll make sure we will all have a fantastic time together bringing the brand further and grander.”

Villa Caemilla, Under the Stars Luxury Apartments clinch top honors in World Boutique Awards

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ILLA Caemilla Beach Boutique Hotel recent ly c l i nc hed fou r prest ig iou s awards, recognizing its excellence in upholding high standards within the service and hospitality industry.

The World Boutique Awards, which were held on November 7, 2023 at the Grand Hyatt Athens in Greece, recognized the establishment as the “Best Beach Hotel Asia,” “Best Alexa Small Hotel in Asia,” “Best Luxury Beachfront Hotel in Southern Asia,” and “Best Luxury Designer Boutique Hotel in the Philippines.”

The beach hotel is situated at Station 3 in Boracay, a renowned tropical island and one of the top-tier beach destinations in the Philippines.

The Stars Luxury Apartments, which is part of the Villa Caemilla Beach Boutique Hotel, also celebrated a double triumph, earning the titles of “Best Chic Hotel Asia” and “Best Hotel

with a View Asia.”

“It brings immense happiness to announce the well-deserved recognition of Villa Camilla Beach Boutique Hotel and Under the Stars Luxury Apartments,” the management said, adding that it acknowledged that the team has put in countless efforts to ensure the comfort and satisfaction they provide to their guests, contributing to the success of the establishments.

The management added that the awards are also a recognition their continued commitment to crafting an exceptional and opulent experience for its guests.

“We are committed to maintaining the highest standards of service and hospitality.

By creating a relaxing and memorable atmosphere, we aim to inspire our guests to make the most of their stay with us,” the management of Villa Caemilla Beach Boutique Hotel concluded.

Primera Klasse empowers auto design and luxury for the icons

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N this day and age, your automobile should both serve your day-to-day routine and reflect your taste and status. After all, the state-of-theart batmobile has on board the suave billionaire Bruce Wayne!

Primera Klasse is offering to create luxury features for your car, embracing such a modernday necessity for successful, inspiring people going about their busy, colorful lives.

More and more celebrities from show business, politics, and high society are enjoying what Primera Klasse provides in automobile customization, which is a showcase that excels in comfort and displaying eye-catching style.

“We create our products and designs by prioritizing functionality and comfort,” satd

John Lopez whose proven track record in auto interior designing is synonymous with luxury cars traversing the noisy highways of mega Manila and other key cities of the Philippine archipelago.

Lopez has established himself in the field of vehicle customization by utilizing the latest technology armed with technical expertise. He and his team has serviced a clientele of famous, call them iconic, Filipino celebrities in various fields of endeavors.

It’s a cool note that exactly a decade back, popular and stylish actress Gretchen Barretto commissioned his company to customize a fullsized bus that she could use in her work and personal activities, including going to tapings.

From there, inquiries and referrals led to a long list of customers virtually plucked from the who’s who of Philippine society.

Primera Klasse is carving its benchmark, which according to Lopez, is ensuring clients that they project “their lifestyle with a statement” right upon arriving wherever they’re scheduled to be, fiercely glowing on board their customized whip.

Primera Klasse’s signature first class seat design and geometry primarily pulls in the icons deserving of a high-tech, functional interior while on the road, followed by aesthetics that make the path ahead appear like a virtual catwalk.

Talking about addressing the challenges of heavy metropolitan traffic in style, Lopez points out, “Traffic in Philippine urban communities may be bad, so I think our product builds are significant in going through it daily with some cool solution.

For one, you can enjoy and work at the same time while inside our custom vans.”

Asked about some ballpark figures for one to avail of car detailing done by Primera Klasse, the go-to-guy of celebrities eyeing for comfort, innovation, and style muses that it’s around P1.8 million upwards, noting that “it really depends on the layout and seating configuration.”

Yes, luxury and comfort have a cost, which those who’ve worked hard to achieve their lofty status in life would rather describe as priceless.

Primera Klasse will soon open a branch in Bloc 10 Filinvest Alabang in Muntinlupa.

Nuna opens first store in PHL in Greenbelt 5

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UNA, a world leader in premium baby gear, recently opened its first store in Philippines.

This new location at 3rd level, Greenbelt 5, Makati City is an important milestone for Nuna.

The opening of the first store in the Philippines was a logical next step to the company’s growth ambitions. Nuna’s store will provide Filipino customers the opportunity to step into the exclusive world of the Nuna brand, and see, touch, and feel its expertly crafted baby gear.

Nuna embraces being premium in its minimalism and has remained true to its Dutch roots.

Craftsmanship, clean lines, and thoughtful solutions remain at the forefront of each product.

The iconic Nuna style is timeless while the features built into each product are inventive and expertly engineered, everything you need and nothing you don’t.

Visitors can expect to find the full range of Nuna displayed at the store, including car seats, baby carriers, push chairs and in-home products.

A grand opening event was held November 30, 2023.

The event kicked-off with a ribbon cutting ceremony with Myrna Yao, Richprime Global Inc. and Europlay Distributor Company Inc. CEO, Liza Yao, Richprime Global Inc. and Europlay Distributor Company Inc Managing Director, Iza Arcilla, Greenbelt General Manager and Marc Ambrocio, Operations Manager.

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, December 11, 2023 B7

COMMUNICATORS AND BUZZWORDS WITHOUT THE BUZZ

n Philippine Philharmonic Orchestra brings Ode to Joy this December MANILA, PHILIPPINES—Celebrate the most joyous season with the Philippine Philharmonic Orchestra as they hold the fourth concert of their 39th Concert Season: Switch on December 8, 7:30 pm, at the Samsung Performing Arts Theater.

Dubbed Ode to Joy, the Concert IV program features Franz Liszt’s Piano Concerto No. 2 in A Major and Beethoven’s Symphony No. 9, Op. 125 in D minor, under the baton of PPO music director and principal conductor Maestro Grzegorz Nowak.

Renowned pianist and former CCP President Raul Sunico takes center stage as he performs Liszt’s Piano Concerto No. 2 in A Major, a dazzling and virtuosic piece that

highlights the composer’s inventive approach to the piano and his ability to integrate solo and orchestral parts fluidly.

Hailed for his “unusual gifts of lyricism and poetry,” Raul has an illustrious international career as a concert pianist, orchestral soloist, and composer-arranger of Philippine music. A TOYM Awardee for Music in 1986, his impact extends beyond performance. He is a music education advocate, textbook author, and former dean of the UST Conservatory of Music. With unique distinction like performing all four Rachmaninoff pianos concertos in a single evening, Raul continues to contribute significantly to the world of classical music.

E x per ience t he g ra ndeu r of Beethoven’s monumental Symphony No. 9, Op. 125 in D minor, with guest performers baritone Byeong-In Park, mezzo soprano Krissan ManikanTan, soprano Rachelle Gerodias, and tenor Arthur Espiritu.

The Beethoven piece has been known for its innovative use of a vocal quartet and a choir in the last

job ad, some won’t bother to apply.

Here she lists 9 Business Buzzwords People Hate So Much They Won’t Want to Work with You. Maybe communicators can reevaluate using them:

Rockstar

Zetlin says this tops the list of buzzwords that people see as a red flag. That’s because the implied meaning seems to be, “we expect you to wow us in everything you do”. Of course, one doesn’t want to feel that pressured.

Wear many hats

This sounds like a code for: “We really need to hire several people, but we’re going to keep the costs down by having you do multiple jobs instead”. That, Zetlin rightfully observes, might put someone off.

www. FREEPIK.COM

‘R

izz”, a shortened form of the word charisma, was recently named Word of the Year by Oxford Languages, publisher of the Oxford English Dictionary.

Oxford defined the noun “rizz” as style, charm or attractiveness; the ability to attract a romantic or sexual partner.

It can also be used as a verb as “rizz up,” which means to attract, or chat up a person.

According to Oxford, the word’s usage increased dramatically in 2023, when actor Tom Holland, who is best known for his Spiderman role in the Marvel cinematic universe, responded to an interview question about his “rizz.”

“I have no rizz whatsoever, I have limited rizz,” the actor said.

“Rizz” was selected after Oxford received more than 32,000 votes and discussion among a team of language experts.

With “rizz” on the rise, and with the New Year coming, it’s time for communicators to assess the words they use, particularly yesterday’s buzzwords. As they say, out with the old, in with the new.

In an article in Inc.com, Minda Zetlin says that we seem to have a love-hate relationship with buzzwords. Buzzwords are common in workplaces, and PR PROs use them often, but a lot of people hate many of them.

In a recent survey of 1,551 American office workers, conducted by language tutoring site Preply, more than three quarters of respondents said that buzzwords made people sound more professional, and 71 percent said that they used buzzwords to sound more professional or smarter. But it doesn’t mean they like them.

In fact, some buzzwords are so bad that if people find them in a

Ninja

Corporate life is never easy, but if people who work for you need to put up with harsh criticism, insults, or belittling, “why would you brag about it?”

She adds, “rather than try to find job candidates with rhinoceros hides, wouldn’t it be better to address what sounds like a toxic workplace?” That would certainly be a better solution.

The actual meaning of this word is someone who is trained in ancient Japanese martial arts for the purposes of espionage or murder.

There probably aren’t too many of these for hire.

Informally, “it means someone who’s extremely good at something”, but it puts a lot of pressure —and bad thoughts—to people.

Even if they aren’t looking for a job, there are a lot of buzzwords that make people cringe. Here, Zetlin lists “some of the most hated, and most common buzzwords.”

If you use them, she warns, “your co-workers may be grimacing behind your back.”

Work hard, play hard

New normal

Thick skin

Zetlin wonders what place this has in a job ad. “If I was thinking of applying, my first reaction would be to wonder what my offhours activities have to do with my qualifications,” she says. “If I like gardening, knitting, and quiet hikes in the woods, what business of this is yours?”

She suspects this is another way of saying, “We’re looking for young people with kids.” Which, obviously is illegal in a job ad.

movement, which includes the wellloved “Ode to Joy.” The PPO’s rendition features a 120-voice choir composed of singers from the CMU Consortium of Voices, Eastern Chamber Singers, Ateneo Chamber Singers, Novo Concertante Manila, and Kammerchor Manila, with chorus master and CCP trustee Jonathan Velasco.

A much-sought after choral conductor, clinician and adjudicator, Velasco and his choirs have won first prizes in major European choral competitions. He regularly adjudicates choral competitions in Europe and Asia, gives choral conducting workshops and coral clinics worldwide.

In 2008, he was elected the first president of the Philippine Choral Directors Association. He currently conducts the Ateneo Chamber Singers. He represents the Philippines to the Interkultur World Choir Council.

Celebrating its 50th founding anniversary, the PPO is the country’s leading orchestra and is widely regarded as one of the top musical ensembles in the Asia-Pacific region. The PPO has premiered Filipino compositions and has featured

Zetlin says that there are two reasons why people hate this phrase. The first is that people really hate it—perhaps because it is associated with Covid-19; and the second is that “embedded within it is the idea that today’s way of working and really isn’t normal.”

That’s bad “because we can’t wish our way back things used to be. The pandemic, the climate crisis, our broken political system —none of these is really new any-

works by foreign composers not yet performed in the Philippines. It continues to promote music appreciation through outreach concerts in schools, parishes, government agencies, and underserved communities in Metro Manila and different regions of the country.

For ticket inquiries, group discounts, and subscriptions contact the CCP Box Office at 0931 033 0880 or email at salesandpromotions@culturalcenter.gov.ph. You can purchase tickets at TicketWorld (09175506997/09999545922).

Visit the CCP website or follow the official social media accounts on Facebook, X, Instagram, and TikTok for the latest updates.

n TPB Philippines and Embassy of Malaysia join hands to celebrate Philippine-Malaysian flavors with Halal event MANILA, PHILIPPINES—In a celebration of culinary diplomacy, the Tourism Promotions Board Philippines (TPB), in collaboration with the Embassy of Malaysia, recently

more. They’re just plain normal.”

The sooner we deal with life as it is and not as we wish it could go back to being, the better.

Circle back

“What are you circling back on?”

Zetlin points out why many people dislike this phrase. Almost certainly, “it’s something people don’t want to think about the first time it came up.

That’s because implicit in the word circle is a dispiriting message: ‘No matter how much you would prefer not to deal with this, I’m going to bring it around and around again until you do.’

Give 110 percent

Zetlin laughs that “this is mathematically impossible.” More to the point, it’s code for “we’re going to make unreasonable demands of you.”

What she suggests is that we instead ask someone to give their absolute best effort, to give their all. “Let them know that the stakes are really high. Don’t ask them more than they give.”

Think outside the box

We have all worked with persons

orchestrated the “Halal Journey T h rough Ph i l ippi ne -Ma l aysi a n Flavors” at the Residence of His Excellency Dato’ Abdul Malik Melvin Castelino, Ambassador of Malaysia to the Philippines on November 28, 2023.

T his cu linar y endeavor featured a meticulously curated Halal menu, embodying the rich cultural exchange between the Philippines and Malaysia. Renowned chefs, Chef Don Baldosano, Chef Edwin Loh, and Chef Ammaar Syafiq Ayob, worked in tandem to deliver a gastronomic fusion celebrating the distinct flavors of both countries. Beyond its culinary appeal, this initiative strategically supports the burgeoning Halal tourism in the Philippines, fostering mutual appreciation and understanding through the universal language of food. Destileria Limtuaco & Co. also sponsored the cocktail hour with a unique mix of Filipino-inspired drinks before the dinner.

“By understanding the changing dynamics of our Muslim tourists, we can adapt our offerings and create

that are truly innovative—and they inspire us with their great ideas and boundless energy.

What inspired them? Zetlin says whatever it was, she can guarantee it wasn’t an exhortation to think outside the box, which she considers one of the tiredest clichés there is.

“This is a very un-creative way to get people to be creative,” she says. “If you truly want new, fresh ideas, find a fresher way to say so.

You’ll be glad you did, and so will the people who work with you.”

And for PR and PROs, this includes editors, and your readers.

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the Senior Vice President for Marketing and Communications of SM, is the former local chairman.

We are devoting a special column each month to answer the reader’s questions about public relations.

Please send your comments and questions to askipraphil@gmail.com.

exceptional travel experiences that resonate with their desires. Together, we harness the potential of Halal tourism and showcase the Philippines as a welcoming and inclusive destination for all travelers,” said TPB Chief Operating Officer Maria Margarita Montemayor Nograles.

The event was attended by esteemed guests, including Brunei Ambassador Megawati Mana, Director General of the Islamic Tourism Centre Malaysia Mr. Nizran bin Noordin, and Director of the Office of the Secretar y—Ha la l Industry Development Mr. Aleem Siddiqui M. Guipal. Key Philippine tourism players from both the public and private sectors, including Department of Budget and Management (DBM) Sec. Amenah Pa nga nd a m a n, De pa r t ment of Tourism (DOT) Usec Atty. Shereen Gail Yu-Pamintuan, DOT Usec.

Myra Paz Valderrosa-Abubakar, Department of Social Welfare and Development (DSWD) Usec. Aliah Dimaporo, and Vogue Philippines’ Rhoda Campos-Aldanese, graced the occasion among others.

Sports

RUSSIANS OKAY FOR PARIS - IOC

BusinessMirror

B8 | M

onday, December 11, 2023 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Risa’s on fire

Creamline’s Risa Sato is challenged at the net by Chery Tiggo’s EJ Laure but the Cool Smashers go on to win, 26-24, 25-21, 25-21, and book another finals ticket in the Premier Volleyball League All-Filipino Conference at the PhilSports Arena in Pasig City on Saturday night. They face either Choco Mucho or Cignal, which dispute the second finals berth in Game 3 of their semifinals duel on Tuesday in the same venue.

G

ENEVA—Some Russian athletes will be allowed to compete at the 2024 Paris Olympics, the International Olympic Committee (IOC) said Friday in a decision that removed the option of a blanket ban due to the invasion of Ukraine.

The IOC decision confirmed moves it started one year ago to reintegrate Russia and its military ally Belarus into global sports, and nine months after it urged sports governing bodies to look at ways to let individual athletes compete.

Though the IOC’s official position was expected, the timing surprised some Olympic watchers after reports last week in Paris suggested the long-promised decision would come in March.

It is still up to each sport’s governing body, which run their own Olympic competitions, to assess and enforce neutral status for individual athletes who have not actively supported the war and are not contracted to military or state security agencies.

The IOC said on Friday eight

San Beda U forces do-or-die Game 3

J

ACOB CORTEZ brought his fierce form back on Sunday as San Beda University foiled a Mapua celebration via a 71-65 Game 2 victory in the National Collegiate Athletic Association Season 99 seniors basketball finals at the SM Mall of Asia Arena.

Before a packed arena of 22,465 rabid fans from both sides, Cortez made sure he won’t disappoint this time and scored 21 points—including two cold-blooded triples in the fourth quarter that turned things around in the Red Lions’ favor.

“That kid’s special, he doesn’t want to lose,” said San Beda coach Yuri Escueta of the 21-year-old son of former Philippine Basketball Association and collegiate star Mike Cortez.

It was San Beda’s first win over Mapua after three losses this season—including a 68-63 defeat in Game 1 last Wednesday.

Game 3 is set Sunday at the Smart Araneta Coliseum.

“One more week before Game 3 and we want to bring the same intensity,” Escueta said. “The only thing we did and told ourselves is to stay together, no surrender.”

For Cortez, who missed nine free throws for a measly 12 points in Game 1, it was a collective team effort.

“It’s not just me, the other guys stepped up as well, not just offensively but defensively, it’s about sticking together as a team,” said Cortez, who also had nine rebounds, three assists and two steals Sunday.

San Beda’s victory spoiled Mapua’s Clint Escamis, who was named the season’s Most Valuable Player and top rookie during the individual awards ceremony before Game 3.

Escamis scored sorely on a 4-of-21 average but still led Mapua with 15 points with nine rebounds and four assists in Game 2.

College of Saint Benilde, meanwhile, claimed third place with a 93-83 victory over Lyceum of the Philippines University earlier on Sunday.

Russians and three from Belarus are among 4,600 athletes worldwide who have so far qualified for the Summer Games. More than 60 Ukrainian athletes have qualified so far and the IOC estimated the country would ultimately send about 150.

Russia sent 335 athletes to the Tokyo Olympics held in 2021— winning 29 golds among 71 total medals—but only dozens are likely to compete in Paris as individuals.

Russia remains banned from team sports.

“Only a very limited number of athletes will qualify through the existing qualification systems of the (governing bodies),” the IOC said in a statement Those who are given neutral status must compete without their national identity of flag, anthem or colors. Light blue uniforms have been mandated by the International Gymnastics Federation.

Russian government and sports officials have often insisted that any restrictions on their athletes are politicized

HD hiding something in sleeves in Doha?

H

By Josef Ramos

IDILYN DIAZ-NARANJO only participated in the snatch where she lifted 100 kgs in the International Weightlifting Federation (IWF) Grand Prix II at the Holiday Villa Hotel & Residence in Doha last Saturday.

But that doesn’t trigger any alarm, according to the Tokyo Olympics gold medalist herself.

“I’m happy with the snatch and my feeling in general,” she told BusinessMirror via online message Sunday. “I gained my confidence.”

Team HD’s keeping its cards closer to its chest with the Paris 2024 Olympics seven months away.

“It was the best decision to keep our eyes towards 2024,” said Diaz-

Naranjo’s husband and coach Julius Naranjo. “I couldn’t be prouder of Hidilyn for going out there and hitting a milestone performance in the snatch with 100 kgs.”

Diaz-Naranjo broke the 100 kgs snatch barrier at -59 kgs for the first time since she started her Olympic qualifiers campaign. She lifted 93 kgs at the Bogota world championships as a -59 kgs athlete last December, 99 kgs at the Asian championships in Jinju (South Korea) last May and 97 kgs at the world championships in Riyadh last September.

With a no lift or did not finish across her name, Diaz-Naranjo stands the risk of going down in the world rankings—she’s currently No. 7 and the top 12 in her women’s -59 kgs class will qualify for Paris.

But that’s no cause for alarm.

“Maybe she’ll fall a notch down only,” national weightlifting coach Antonio Agustin told BusinessMirror also Sunday.

Diaz-Naranjo was eighth and last in the snatch in her category where China’s Luo Shifang and North Korea’s Kim II Gyong switched positions on the podium from their Hangzhou Asian Games results last October.

World No. 1 Luo swept the gold medals with 108 kgs in snatch, 139 kgs in clean and jerk for a 247 kgs total lift, shoving Kim (107, 136 and 243) to the silver medal. Canada’s world No. 4 Maude Charron clinched bronze with 104, 129 and 233 kgs.

Diaz-Naranjo stressed she’s fine and denied her knees are hurting.

“Who said so?” she asked BusinessMirror. “And there’s not even that MRI thing.”

She has two Olympic qualifiers to tend to—Asian championships in Tashkent in February and IWF World Cup in March in Phuket.

Erleen Ann Ando, on the other hand, finished 11th among 21 participants in the Group A, B and C sections—she was 17th in snatch (95 kgs), eighth in clean and jerk (120 kgs) for a 215 kgs total lift.

“Ando needs to catch up because she didn’t finish in her two other Olympic qualifiers,” said Agustin, referring to Ando hurting her elbow in the Olympic qualifiers in Bogota and Jinju. “She needs to perform strong performance in the last two qualifiers if she really wants to qualify for Paris.

and unacceptable.

Athletes and officials from Ukraine, including President Volodymyr Zelenskyy, have repeatedly urged the IOC to expel Russia and Belarus entirely from the Olympics because of the war Russia started.

Zelenskyy said in January it was “obvious that any neutral flag of Russian athletes is stained with blood.”

They have said any Olympic medal wins for Russians will be used as propaganda by the state. Russian medal winners are often linked to military sports clubs such as the CSKA—Central Army Sports Club— which is tied to the army.

European allies of Ukraine have tried to exert pressure on Olympic and sports officials, and Sweden’s sports minister said the IOC decision was “upsetting and very regrettable.”

“Neutral flag is an illusion and this contributes to normalizing the Russian war of aggression!” sports minister Jakob Forssmed wrote on social media.

The toughest stance on Russian athletes has been taken by World Athletics, which has excluded them from international competition since the invasion started in February 2022.

The IOC and its President Thomas Bach also urged excluding Russia from sports when the war started days after the closing ceremony of the Beijing Winter Games, then eased their position through last year as qualifying events for Paris approached.

Paris is the fifth straight Olympics where Russia and its athletes have faced calls to be banned since the steroid-tainted 2014 Sochi Winter Games that was Bach’s first as IOC president.

In Paris, Russian athletes will compete as Individual Neutral Athletes—using the French acronym AIN—at the fourth straight games where the simple team name “Russia” was not allowed.

Bach has repeatedly cited the war in Ukraine as being among dozens of ongoing conflicts, and that athletes worldwide and especially from Africa do not want fellow competitors to be punished by the actions of their government. AP

Magsayo debuts at super feather with 3rd-round KO of Mexican foe

M

SAN BEDA’S Clifford Jopia and Jomel Puno show aggressiveness in going after the loose ball. RUDY ESPERAS

ARK “MAGNIFICO” MAGSAYO made it look like a Sunday morning walk in the park as he scored a third-round knockout victory over Mexican Isaac Avelar in a nontitle super featherweight clash on Sunday at the Infinite Studios in Long Beach, California.

The 28-year-old from Tagbiliran City measured Avelar in the first two rounds before wrapping up the win with a mighty left hook that sent the Mexican flat on his back on the canvas.

American referee stopped the fight with a minute and 13 seconds left in the round.

“He’s ready to take 2024 for a ride, Mark Magsayo is putting everybody on notice in the 130-pound class,” international matchmaker Sean Gibbons, also MP Promotions president, told BusinessMirror on Sunday through voice call.

Trained and coached by Marvin Somodio, it was Magsayo’s first foray as a super featherweight and improved his record to 25-2 win-

loss with 17 knockouts.

“Magsayo feels fresh, he feels new and ready to take the challenge in the super featherweight class,” said Gibbons. “Tonight was so explosive and exciting, Mark Magsayo is back.”

Magsayo held the World Boxing Council featherweight title after beating American Gary Russell Jr. via majority decision in February 2022 but list to Mexican Rey Vargas of Mexico via split decision in his first title defense July last year in San Antonio, Texas.

He again lost to American

Winds of change around Ateneo basketball THE departure of Kai Ballungay from Ateneo was something I half expected and yet, when it came, was still like a punch to the gut.

So much changed in the last four years—Covid-19 lockdown that caused players to lose out on their playing eligibility, or skip out because of the option of playing overseas in Japan, Taiwan, Korean or Europe, and if you ask me, the injury to Jerom Lastimosa.

No team was harder hit than Ateneo.

Will Navarro skipped his final playing year. Dwight Ramos was lost for two years. Pat Maagdenberg left. SJ Belangel opted out of his final playing year. Plus, some recruits left.

Navarro, Ramos and Belangel were lured by the overseas leagues.

There’s so much change that I wonder how Ateneo—or even the other schools—will adjust to these changes.

In 2018, the Ateneo Blue Eaglets bagged the juniors title. Not all the key players moved up to the seniors ranks.

Dave Ildefonso went to the National University (although he returned to the fold two years later). Joaqui Manuel went to La Salle after he did not want to be on Team B. Kai Sotto pursued overseas basketball in hopes of making it to the National Basketball Association.

This prompted an assistant coach of the team to remark

that for the first time, all the juniors players were not keen on moving to the seniors team.

What he failed to mention was that was the first time an Ateneo juniors team had no key players who moved up from the grade school ranks. One had to wonder because they were recruits, loyalty was not something they were high on.

When Ateneo moved from the National Collegiate Athletic Association (NCAA) to the University Athletic Association of the Philippines (UAAP) in 1978, so many were demoralized because they considered the junior circuit to be inferior to the NCAA. The Blue Eagles had to rely on players from the intramurals and pick-ups to fill their rosters during the early UAAP years.

The Ateneo High School still provided a steady stream of players who were not only good, but could compete. And for the most part, the college teams—even with the few recruits—benefitted from the True Blue call-ups who were bristling with pride and talent.

But the 1990s saw the influx of Fil-Americans that changed the face of the college game.

Even with the influx of foreign student athletes (FSAs), the Blue Eagles still managed to win even without one of their own.

However, you could feel the winds of change. Ateneo

eventually played the game—bringing in Fil-Ams, recruiting, and acquiring FSAs. There too was the arrival of the business tycoon who could bankroll a program.

Some are not easily rectifiable. The high school team is so far away from competing that one wonders if Ateneans will ever see a return to secondary ball dominance that it enjoyed for the most part of its history.

Now, there are players not finishing their stay in school.

And there’s Jerom Lastimosa.

He was said to be earmarked for a team abroad but he stayed in Adamson Univertsity. Sadly, he suffered an injury that kept him mostly out of regular play.

Whether he was indeed ready to return or not is immaterial now. He got injured again and was clearly not his old self.

Whether he will receive those same offers to play abroad

Brandon Figueroa last March 4 in Ontario, California, via unanimous prompting him and his camp to climb to the 130-pound division.

Avelar, 26, dropped to 17-7 record with 10 knockouts.

The Magsayo-Avelar fight was an undercard to the main event where Brandon Benitez beat fellow Mexican Rigoberto Hermosillo via sixth round technical knockout to bag the vacant North American Boxing OrganizationWorld Boxing Organization featherweight belt. Josef Ramos

is anyone’s guess. Time will reveal if that opportunity is still there. Of course, we hope it does come.

Kai Ballungay got married after his first season with Ateneo. That meant he was now the breadwinner for his family.

I told myself that he will need to find that source of income to provide. In my opinion, Lastimosa’s injury played in his mind.

He needed to cash his chips in while he was able.

His departure along with the surprise departure of Jason Credo (from that 2017-18 juniors title team) with a year left leaves the team short of even more veterans.

But then you wonder if Mason Amos will go the way of Ballungay or Dwight Ramos.

They will still be in rebuilding mode and it will take a few more years before they find solid footing.

And you have to wonder how long Tab Baldwin will stay as head coach.

I have said and written about this before—you just cannot get any coach. Teams are now getting ex-Philippine Basketball Association players/coaches. You need a larger than life figure with a name and a pedigree that can bring in players.

Since 1998, Ateneo’s big names have been Joe Lipa, Joel Banal, Norman Black, Bo Perasol and then Baldwin.

So many big shoes to fill. So many concerns that need addressing.

Ateneo eventually figures that out. How long will it take is anyone’s guess because these winds of change are serious and unpredictable. It does make for an interesting following though.

Christmas at its best A BusinessMirror Special Feature

www.businessmirror.com.ph

When Noche Buena is all about family, simplicity I

By Rory Visco Contributor

N the next few days, the family will sit down again to celebrate the joyous birth of the Child Jesus and partake of a wondrous gastronomic feast, which happens only once a year near the stroke of midnight. Well, a family dining together is nothing unusual. In the Philippines, however, family members gather as one on the dining table sharing glorious and delicious food and together welcome the birth of the most important symbol of Christmas is priceless. No matter what the situation, families will try their darndest best to make the Noche Buena feast not only taste good, but memorable as well.

It would be great to have the best, most bedazzling and impressive items on the Noche Buena table but really, the items need not have to break the bank. As long as it’s appetizing, appealing and more importantly, prepared with love, it will be an unforgettable dining experience that the whole family will enjoy.

of bread, it’s practically a complete meal by itself.

Christmas Ham with Pineapple glazing

FOR those with a slightly higher budget, a Christmas ham, whether the traditional, slowcooked whole leg type, or those bought in supermarkets that just needs to be reheated, should be a good addition to a festive occasion such as Noche Buena.

Once the ham’s hunger-inducing aroma wafts to the air, and the entire meat slathered with sweet honey-based sauce and glazed pineapples, it would be hard to suppress one’s hunger pangs, even if it’s still a few hours before midnight.

Macaroni Salad

THERE’S no wonder that this classic dish remains a favorite during Noche Buena in the Philippines, or for any festive celebration for that matter. Why? Simply because it’s easy to prepare. A pack of macaroni noodles cooked al dente, mayonnaise, eggs, ham (or tuna and kani—quartered crab sticks if you’re on a diet), celery, some carrots, then toss them altogether and it’s done.

But then again, there’s no strict recipe for a good macaroni salad. Every family has its own version, like those who include raisins (ewww) into the mix. Whatever the version, the Noche Buena table lights up with this concoction.

Quezo de Bola

PIXABAY

Pinoy Spaghetti

THERE is a belief in every Filipino family that noodles should not be absent in any occasion, whether it be birthdays, reunions, anniversaries and more importantly, Noche Buena. For “long life,” it is believed, and in most Noche Buena tables, the spaghetti takes center stage.

However, it should not be any spaghetti

Monday, December 11, 2023 C1

but the Pinoy version of the popular staple in Italian cuisine: saucy (banana catsup-based),

sweet, a little on the tangy side, with loads of small cuts of hotdog, sweet ham, ground beef,

and lots of local cheese, so that everybody, kids and adults alike, will eat them. Paired with slices

EVERYONE knows Christmas is near when these red balls of cheesy happiness pop up in supermarkets and groceries. You have probably noticed that the Quezo de Bola is hardly consumed during Noche Buena; it’s just there.

For decoration to give the table a hint of red? Nope. It simply is there as part of the feast even if there is no one who can really explain why it is such a staple Noche Buena food element. Some say it goes well with sweet ham

for that sweet and salty combo, but for unconsumed Quezo de Bola, some use it to make Cheese Pimiento, in time for the Media Noche or New Year’s Eve dinner.

Hot Chocolate

JUST like the Quezo de Bola, the hot chocolate drink, those made from scratch and not poured down from sachets and comes with artificial marshmallows, are also most of time ignored.

Family members would more likely gulp down glasses of cold soda or iced tea. But for some, the hot choco, melted from old-style “tabletas,” and its soothing taste should not be absent on the Noche Buena dining table because of the satisfaction it brings to the palate, especially during cold Yuletide nights.

Crema de Fruta or Leche Flan?

IT’S really a toss-up between the two. For some, Crema de Fruta, where a mix of fresh or canned tropical fruits, graham crackers, and a combination of evaporated and condensed milk results into this delectable dessert, remains to be a favorite because of the color it provides to the dining table.

But Leche Flan, the local adaptation of the crème caramel from Europe, a caramel custard made from condensed milk, eggs and sugar, remains to be a top favorite because of its creamy and yummy texture, plus the fact that it is very easy to make, and if budget is a bit tight. The joy it brings to everyone with every bite is inarguably priceless.

But then again, these are just suggestions.

Life is hard nowadays. With the soaring prices of basic goods, this makes preparing the Noche Buena a bit of a challenge. However, with a little creativity and knowledge, the Noche Buena feast will always be remembered because it is about the family partaking of food together while celebrating Christmas and thanking the Almighty for all the blessings. The Noche Buena feast, no matter how simple, can also be memorable.

Christmas

A BusinessMirr

C2 Monday, December 11, 2023 | www.businessmirror.com.ph

Find Delight at the Kingsford Hotel Manila this Christmas Season

It’s never the holidays without the Christmas Buffet at the Kingsford Café

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EWARD yourself! You deserve even just a bit of pampering for the holidays. Bring your loved ones to the heart of the Entertainment City where Kingsford Hotel Manila delights you from the moment you enter until you see them again. Check out what they have in store for you this season.

Spend your Holiday Staycation with family at the Kingsford Hotel Manila

Stay and be Merry

NO NEED to worry, Kingsford Hotel has got the holidays planned out for you! Stay for the holidays and book a deluxe room for two and enjoy a delectable buffet feast on Christmas eve for P8,888. For the

new year, you may also enjoy your stay and choose to enjoy it either with the New Year’s Eve dinner buffet or party for two for P9,888.

Have it all this holiday season!

Maximize your stay and enjoy the New Year’s Eve buffet and join the crowd as you “Rock n Groove” your way to 2024 wearing your fantastic 80’s inspired outfit. Grab your drink at the bar and get ready to be entertained plus the chance to win an overnight stay gift certificate.

Get all this for P12,888 perfect for two persons.

Dine. Relax. Reward yourself.

CATCH up with family and friends

over a satisfying meal. Treat yourselves to a savory lunch or dinner at Kingsford Café or enjoy a selection of cocktails, wines and beers at the Zabana Bar or even at the Frost by the Pool by the pool deck. With an inclusive menu selection that extends from reimagined Filipino dishes to Halal offers, you can bet to have your cravings satisfied.

It’s all about you! After taking care of business and others, it’s time to be good to yourself. When checked in, enjoy Kingsford’s complimentary facilities. Have yourself a calming steam by the sauna room after the gym or cooldown at the pool while you enjoy the cityscape view. For a special rate, why not also book yourself a massage in your room to relax.

Up for some dose of retail therapy? Luckily, Kingsford Manila, located at the heart of the Entertainment City, is only a stone’s throw away from major shopping malls, cinemas, ang gaming centers. With everything within reach, all you must do is choose.

It’s never too late to reward yourself. And with specially curated promos created just for you, finding your bliss has never been this rewarding. Book your holiday staycation now by visiting kingsfordmanila.com or email at stay@ kingsfordmanila.com.

Ready for takeout. Pre-order Kingsford Hotel’s platter specials like pork pastrami, lechon baka (roast beef), chicken hardenera, and beer-brine chicken. The rate starts at Php 990. Call 09178053585 for orders at least 48 hours in advance.

Unwrap up to 15% interest on your savings this holiday season with Maya, Lazada

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AYA, the #1 Digital Bank in the Philippines, is here to make your holidays even brighter! Get ready to supercharge your Maya Savings interest up to a dazzling 15 percent p.a. while you indulge in the joy of Christmas shopping with our partner Lazada, where you can find trusted brands and quality products at the best prices.

To all the holiday shoppers out there, this one's for you! As you gear up for the festivities and eagerly await your year-end bonus, Maya is your secret Santa to ensure that your hard-earned money not only brings joy but multiplies this season.

It’s as easy as pie. Just shop for your holiday gifts and needs on Lazada and enjoy an exclusive 1 percent interest boost on Maya Savings! Simply make a minimum spend of P3,000 on Lazada using your Maya number, and watch your savings grow with just a few clicks.

And the holiday savings ex-

travaganza continues! Keep using Maya for all your everyday spending, and you can bask in the high interest rate of up to 15 percent p.a. credited to your Maya Savings daily. Here's how it works: nOpen a Maya Savings account and start with a high 3.5 percent p.a. interest rate. nFor new Maya users, pay bills, buy load, invest in funds, and complete all your holiday purchases using Maya with a total spend of P500 to enjoy a generous +8.5 percent. nFor existing Maya users, just keep on using Maya for everyday transactions with a total spend of P35,000 to rack up your interest to 10 percent p.a. plus an additional +1 percent when you spend P3,000 using Maya Credit nRefer a friend with your @username and savor an additional +1 percent for 15 days. nIf you’re a Smart Postpaid user, you get an exclusive +1 percent p.a.

when you pay your bill worth P999. nAnd the cherry on top, indulge in your holiday shopping and get an extra +1 percent p.a. when you spend a total of P3,000 on Lazada.

It's like giving your savings a delightful treat.

With Maya Savings, our goal is simple: to make your holiday shopping spree even more rewarding. When you shop on Lazada and pay with Maya, you're also supercharging your Maya savings, turning it into a win!

At Maya, we're all about making savings effortless, and our partnership with Lazada is here to prove it. As holiday shopping knocks at your door, we've got your back. Stay tuned for more exciting partnerships and surprises as Maya continues to expand its network of favorite stores and brands.

For the latest updates on how you can enjoy the best of the holidays with Maya, visit maya.ph and mayabank.ph and follow @mayaiseverything on Facebook, Instagram, YouTube, and TikTok. Maya is here to make your holidays merry and bright!

Per DTI Fair trade Permit No. FTEB-179051, Series of 2023. Deposits are insured by PDIC up to P500,000 per depositor. Regulated by the Bangko Sentral ng Pilipinas. www.bsp.gov.ph.

s at its best

ror Special Feature

www.businessmirror.com.ph | Monday, December 11, 2023 C3

TAAL VISTA HOTEL

WHERE CHRISTMAS FEELS LIKE HOME L

By Benjamin Layug

AST November 18, the timeless Taal Vista Hotel, known for their amazing view of the famous Taal Lake and volcano, in Tagaytay City welcomed the beginning of the joyful Christmas holiday season, with the theme “Where Christmas Feels Like Home,” via their annual Christmas Tree Lighting.

The event was attended by approximately 130 guests, in their cocktail chic attire. The guests from print and online media, corporate partners and clients, regular guests and affiliates of SM Hotels and Conventions Corp. (SMHCC) started arriving at 5 pm. The program commenced 30 minutes later with welcome cocktails.

This was followed, at 6 pm by the much anticipated lighting of their iconic outdoor Christmas Tree at the mid-garden along Tagytay Ridge. Standing approximately 22 ft. and 4” in height, this outdoor Christmas tree was handcrafted by Pampanga artisans. For that night and the rest of the Christmas season, this tree, now aglow with the bright lights of the holidays, will be a beacon offering a symbol of hope and joy along Tagaytay Ridge.

Tree lighting

THE tree lighting ceremony was led by Elizabeth Sy and Peggy Angeles, President and Executive Vice President, respectively, of SM Hotels and Conventions Corporation, and Ramon Makilan, General Manager of Taal Vista Hotel. A ceremonial gift-giving for the children of the Augustinian Sisters Servants of Jesus and Mary, beneficiaries of the celebration, followed immediately after.

The holiday dinner at the Taal Vista Hotel Ballroom | PHOTO BY NICOLE PALER

The lit Christmas tree can be found along Tagaytay Ridge.

Guests were later entertained to a Christmas wine and dinner concert held at Ballrooms 2 and 3 which were elegantly adorned with Christmas lights and fresh flower centerpieces by Julius Villamante of Amante Fleurs. Artuz provided professional lights and sounds for the event.

The exquisite six-course traceable dinner was curated by the creative culinary team led by Executive Chef Jayme Natividad and used locally-sourced items such as etag (Ilocano and Cordilleran meat cured with salt then smoked or sun-dried), potatoes from Benguet, tuna from General Santos City, tea from Tsaa Laya and Bukidnon wagyu from Umalag Farms. These dishes were paired with an elegant and excellent wine selection from Titania Wine Cellar (headed by president and owner Mr. Jose Meneses) and Destileria Barako.

Pan seared Kitayama Strip Loin

Violinist Joseph Brian Cimafranca

Appetizer

THE menu came with an appetizer of AmuseBouche, croquettes with etag and kiniig with pesto aioli sauce. This was paired with Duet Rose, a semi-dry sparkling rose wine made from

Tempranillo grapes from Castilla-La Mancha, Valdepenas, Spain. The Benguet Potato Soup (with roasted garlic flan, Crème Friache, Pesto Oil and Herbed Croutons) that followed was paired with Richebaron Blanc, a light white wine from Ardeche, Vin de Pays, France.

The salad, Seared Line-Caught Gen San Tuna with Papaya Salad and Dijon and Pommery Mustard Dressing, was paired with Southern Ocean Sauvignon Blanc, a white wine from Marlborough, South Island, New Zealand. Before the main course, guests were served a Sor-

The excellent wine collection

bet of Tsaa Laya Lemon Ginger with Tarragon.

The much-awaited main course was Pan-seared Kitayama Strip Loin of Bukidnon Wagyu, served with Fondant Potatoes, Baby Carrots and Bordelaise Sauce. This robust dish goes excellently with the rich and fruity Chateau La Plaige, a powerful yet elegant, ruby rose colored red wine from Bordeaux Superieure, France. The final course was a sinful dessert of Opera Cake with Kapeng Barako and Tablea Tsokolate.

Entertainment

GUESTS were also entertained with 30 minutes of joyful Christmas music and special renditions provided by the internationally acclaimed Imusicapella, a church chamber choir based at the Our Lady of the Pillar Parish in Imus City, Cavite and conducted by Tristan Caliston Ignacio; singer; actress and theater performer Jasmine Fitzgerald (who sang “Someone Like You” and “One Night Only”); pianist Jon Joe Ayala Mercado and rising virtuoso violinist and violist Joseph Brian Cima-

Soloist Jasmine Fitzgerald

franca who performed “Music,” a 1976 Top 3 UK hit single originally performed by the late English rock singer, guitarist and keyboard player John Miles.

Imusicapella performed “Seasons of Love” (from the 1996 Broadway musical and 2005 motion picture “Rent”), the 1932 bolero song “Besame Mucho” (the most recorded and recorded song in Spanish of all time) and the season-appropriate “Awiting Pamasko.” For the finale, they teamed up with Jasmine Fitzgerald and Joseph Brian Cimafranca to perform the poignant “Leaves,” a song popularized by the popular folk-pop band Ben&Ben which surely tugged at the guests’ heartstrings. Truly a magical and heartwarming experience.

Taal Vista Hotel is located along Kilometer 60, Aguinaldo Highway, Tagaytay City 4120, Philippines.

For inquiries and reservations, call +63 (2) 7917 8225, +63 (46) 413 1000 or +63 917 809 1254.

Stay connected with Taal Vista Hotel by visiting their website www.taalvistahotel.com, Facebook page (facebook.com/taalvistahotel) and Twitter/ Instagram (@taalvistahotel).

Christmas at its best

C4 Monday, December 11, 2023

A BusinessMirror Special Feature

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Alviera’s Northern Floats Festival beckons in Porac

Ayala Land Alviera introduced the Northern Floats Festival in Porac with a a range of activities and celebrations for this holiday season.

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By John Eiron R. Francisco

LANNING something special for this holiday season? Why not consider exploring Pampanga? Beyond its famous giant lanterns and delectable sisig, there’s one destination in Porac that stands out with an adventure waiting to be experienced.

For thrill-seekers and youngat-heart enthusiasts, Ayala Land Alviera has come up with the Northern Floats Festival, an exciting blend of obstacle challenges, festive games, and delectable sweets with a touch of Filipino Christmas vibes.

This festival is a four-week event which runs until December 17, 2023. Here, Ayala Land Alviera features unique and larger-thanlife floats. To capture the holiday spirit, they introduced Christmas characters like Alvie, Sandy, Christ-

The Northern Floats Festival is open until December 17, 2023.

Outdoor fun with hanging obstacle course at the Sandbox, Alviera.

For those seeking the ultimate festival experience, the Alvie package, named after Alviera’s adventurous character, is available at P725 per head.

Aside from the perks of Fin package ticket holders, those who avail of the Alvie package will have a one-day Alviera Country Club guest pass during the event with complimentary food and drinks.

Festival goers can also enjoy special access to adventure destination SandBox, bike trails, kart racing and the exclusive Alviera Country Club.

off, Sparkles, Fin, and the Jingle Belles.

Expressway networks

ARE you concerned about how to get there? There’s no need to worry as you can easily reach the Northern Floats Festival in Porac in just a few hours from Metro Manila via the expressway networks like the North Luzon Expressway (NLEX), Subic-Clark-Tarlac Expressway (SCTEX), and Tarlac-Pangasinan-La Union Expressway (TPLEX).

Melanie Eugenio-Trivino, Alviera Estate Project Development Head, said everyone should have the opportunity to explore new destinations and create lasting memories with their families, particularly during the festive Christmas season.

As visitors explore the vast Alviera terrain, they will discover car-

LED night kites Ayala Land Alviera offers a range of activities, including the SandBox Giant Swing, Free Fall, and Roller Coaster Zipline for visitors to enjoy.

Alviera provides a taste of Filipino Christmas spirit with refreshing juices and local treats.

nival-inspired activities. Indeed, everything at Alviera's festival this year evoke childhood memories, from playing dart games at the carnival to participating in the well-known color games and trying the ring toss.

Ticket options

THERE are different ticket options for visitors to choose from. Starting at an affordable P125 per head or the Sparkles package, guests can enjoy access to the Alviera North-

ern Floats Festival and one Sandbox ride.

The Sandy package, priced at P375 per head, includes entrance, a P150 food and drinks voucher, a P100 activities voucher, and one SandBox ride.

Meanwhile, Fin package ticket holders, at P525 per head, receive an upgrade to SandBox Package C, in addition to the inclusion of the Sandy package. This grants access to the SandBox Giant Swing, Free Fall, and Roller Coaster Zipline.

IN ADDITION to the entertaining games, visitors can also engage in and observe the giant LED night kites. Indeed, it's not limited to giant lanterns and floats; there's a unique experience of flying kites at night in Alviera. Typically, when flying kites it is often done during the day, but Alviera offers a unique opportunity for a new nighttime experience.

Meanwhile, Porac City government officials led by Mayor Jing Capil expressed his gratitude for the event, stating, “We are grateful that Alviera has brought life to our town with activities and projects which have improved tourism.”

In addition to the commercial areas, corporate zones, educational institutions, and shopping hubs, Alviera offers a retreat for adventure enthusiasts and nature lovers at SandBox—an outdoor facility featuring a zip line with a roller coaster feel, climbing walls, and a high ropes course.

For those seeking a more exclusive experience, Alviera’s Country Club boasts sports and leisure facilities alongside an excellent selection of local cuisine.

The event is also made possible with the full support of the Municipality of Porac, Department of Tourism Region 3, Kite Association of the Philippines, Pepsi, Avida, Alveo and Get Ready with Me.

Celebrate the Holidays with The Good Meat Celebration Ham

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HE Good Meat Fresh Hub, the leading provider of premium meat and other fresh food finds, is excited to announce the launch of its latest offering: Celebration Ham. This delicious and savory ham is perfect for the holiday season, providing families with a mouthwatering centerpiece for their festivities.

The Celebration Ham is a succulent, tender, and fully cooked ham expertly smoked to perfection. It is crafted with the highest quality ingredients, ensuring the ham's flavor and juiciness. Whether you're planning a Christmas dinner or a New Year's Eve party, The Good Meat's celebration ham makes a perfect addition to your dining table.

The launch of the Celebration Ham coincides with the holiday season, making it the ideal choice for festive gatherings and family occasions. The ham is versatile and can be served

in various ways, such as the centerpiece of a banquet table, part of a charcuterie board, or as a sandwich filling.

"We are delighted to offer our customers our finest Celebration Ham and other ham variants in time for the holiday season," said Rafael Hocson, VP for Marketing of The Good Meat. "Our ham is expertly smoked, fully cooked, and packed with savory flavor. It is the perfect centerpiece for your joyous celebrations with your loved ones."

As part of The Good Meat Fresh Hub's ongoing commitment to providing customers with value and convenience, there is currently a promotional offer for its Celebration Ham. Customers who purchase five hams can get one for free, making it easier for families to provide guests with a delicious and high-quality meal without breaking the bank.

The promotional offer for the Celebration Ham is available in all The Good Meat Fresh

Hub stores,selected Robinsons Supermarket, Puregold, The Landmark Supermarket and website: www.thegoodmeat. ph until December 31, 2023..

Customers are encouraged to act fast and take advantage of this fantastic deal before stocks run out.

"At The Good Meat Fresh Hub, we aim to provide our customers with the best value for their money without compromising the quality of our products. This holiday season, our Celebration Ham is the star of the show, perfect for special occasions and family gatherings," added Rafael Hocson, VP for Marketing.

For more information about the Celebration Ham and other product offerings ( Sisig Fiesta, Smoked Bacon, Tapa, and Gourmet Porkchops) visit the nearest The Good Meat Fresh Hub store,selected Robinsons Supermarket, Puregold, The Landmark Supermarket , and www.thegoodmeat.ph.