FIAborders, bill to create more jobs–Gatchalian ‘Close cut Omicron exposure risk’ By Jovee Marie N. dela Cruz panying demands. By Cai U. Ordinario with their loved ones, while for-
skills and technical know-how which, she said, the economy can no “Our receptiveness to these and allow Filipinos to broaden and eigners living in temperate regions longer afford. changes may very well determine enhance their competitiveness in usually want to relax in tropical “It is better that we do protective Y easing the restrictions whether we can live up to our true both domestic and international LOSING the country’s borders countries like the Philippines. This preventive measures than get exand requirements for foreconomic potential or remain in labor markets. is one of the most immediate year’s influx of OFWs is expected to posed again. We have a lot to lose,” eign businesses in the Philthe doldrums compared to our “This transfer of knowledge courses of action the governbe heavier since many of them were Oplas said. “We should do it now so ippines, a senator on Sunday said next-door neighbors,” he said in and technology will in turn help ment must take to prevent the latunable to come home for the holidays that we can open just before Christthe passage of the bill amending a statement. the country attract more busiest Covid-19 variant, Omicron, from in December 2020. mas. If it gets contained, we can open the Foreign Investments Act (FIA) “With these amendments in nesses that require high-skilled reaching Philippine shores, accord“My recommendation is to protect it again.” of 1991 will help generate jobs for the Foreign Investments Act of workers,” said Gatchalian. ing to local economists. the borders. Do not allow people with Ateneo Center for Economic ReFilipinos. 1991, investors can look forward T he ratified bill adopted T he new var iant is a threat, a history of travel to countries with search and Development (ACERD) Sen. Sherwin T. Gatchalian to a more supportive government Gatchalian’s proposal on the ese s p e c i a l l y w it h t he hol id ay s positive cases to enter,” Oplas said. Associate Director Ser Percival said the recent ratification of the policy and a more attractive intablishment of an online portal coming up and more foreigners “We should be more restrictive. [We K. Peña-Reyes said closing the bill is “very timely” as the country vestment destination,” added to serve as a central database, to being a llowed to travel to the have to be] more protective in terms country’s borders would be effecis now opening up the economy. Gatchalian, one of the co-authors include a directory of ready local Philippines, De La Sa lle Univerof our measures.” tive but should still adhere to the The senator also said these of the bill. partners from priority sectors as sit y economist Mar ia Ella Oplas Oplas said that while this will be standards set by the World Health FOREIGN Affairs Secretary Teodoro L. Locsin, Jr arrives at the G7 Foreign Ministers meeting in Liverpool, amendments will lead to a for Under the amended FIA, fora tool for promoting investments told BusinessMirror. a setback to some industries, this Organization (WHO). eign investment regime that is eign professionals will now be enand businesses matching in local England on Sunday, December 12, 2021. Foreign Secretary Liz Truss is hosting US Secretary of State Antony The holidays usually bring in is a fair measure considering that What is needed, Peña-Reyes told more attuned to the changing couraged to come to the country to supply chains. Blinken and other Group of Seven counterparts for weekend talks in the northwest England port city of Overseas Filipino Workers (OFWs) this could help prevent placing the this newspaper, is for travel restriceconomic climate and its accomshare their knowledge, expertise, A l s o i nt r o d u c e d i n t h e Liverpool as the wealthy nations club faces growing tensions with Russia, China and Iran. AP/JON SUPER who are eager to spend Christmas country in another strict lockdown, tions to be put in place swiftly and @joveemarie @caiordinario
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amended FIA is Gatchalian’s for government to be proactive in proposal allowing start-up and imposing them. startup enablers endorsed by Previous instances when the lead host agencies pursuant to country had the opportunity to imR A 11337 to be funded by forpose travel restrictions did not preeigners with a minimum capivent the spread of Covid-19. That was tal of P100,000 to encourage mainly because the decision was not investments that will pioneer made immediately, he said. in the country. “Kung papatay patay [If we’re The bill amending the Foreign slow] and we get caught flat-footInvestment Act of 1991 is now ed, [that’s risky] We were too reawaiting the President’s signature active instead of proactive before. as the two chambers of Congress We should learn from that,” Peñahave already ratified their joint Reyes said. “It’s a delicate balancing version of the bill. act. We need to push testing and The bill, which seeks to further tracing to be properly informed open up the economy, is one of the of our decisions. Blanket/shotgun priority liberalization measures approaches could have dire conseof the Duterte administration. quences on the economy.” See “FIA bill,” A2 See “Omicron,” A2
GOVT DEBT PAYMENTS NATL GOVT BORROWINGS FOR 35-YR 10 MOSHIGH DIP TO HIT INP2.75T OCT
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Monday, December 66 Monday, November 13, 29, 2021 2021 Vol. Vol.17 17 No. No.52
P25.00 P25.00 nationwide nationwide || 22 sections sections 20 20 pages pages ||
By Cai U. Ordinario By Bernadette D. Nicolas
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‘Trade curbs Omicron risk spurs revival hamper of quarantine Covid-19 rules in PHL response’
@caiordinario @BNicolasBM
HE national HE national government’s government’s debt payments gross as of October had borrowings as of already breached the P1 trillion mark,shrank the end-October highest in 356 years, by almost percent based on data released year-on-year to by the Bureau of P2.75 trillion. the Treasury (BTr).
Latest data from the Bureau of the In the January-to-October peTreasury showed that the governriod, debt service soared to P1.053 ment’s gross borrowings during the trillion, exceeding all debt service 10-month period fell by 5.99 percent payments since 1986. The figure from P2.92 trillion a year ago. was 18.48 percent higher than the With only two months left for P888.69 billion recorded a year ago. this year, the latest figure is already Amortization payments reached equivalent to 89.6 percent of its P682.043 billion while interest P3.07-trillion borrowing program. payments amounted to P370.884 Broken down, gross domestic borbillion during the 10-month perirowings from January to October od. Amortization grew 29.45 persettled at P2.23 trillion, down by cent from P526.86 billion in 2020 5.08 percent from P2.35 trillion while interest payments increased in 2020. 10.69 percent from P335.044 bil The bulk of the amount was lion last year. sourced from Fixed Rate Treasury For the month of October, debt Bonds (P1.19 trillion), followed by service payments of the Philippines short-term borrowings from Bangmore than tripled due to a surge in the ko Sentral ng Pilipinas or BSP (P540 country’s amortization payments. billion), Retail Treasury Bonds/Pre T he countr y’s debt ser v ice myo Bonds (P463.3 billion), Retail swelled to P89.066 billion in OctoOnshore Dollar Bonds (P80.84 bilber, representing a 227.59-percent lion). In the same period, there was increase from the P27.188 billion also a net redemption of Treasury posted in October 2020. Bills amounting to P43.94 billion. In October, the country’s amor Net debt redemption means tization payments skyrocketed there were more debts repaid comto P57.53 billion in 2021, a 1,024 pared to the amount borrowed durpercent increase from the P5.118 ing the period. billion posted a year ago. Meanwhile, gross foreign bor For interest payments, BTr data rowings in the same period also showed this amounted to P31.536 contracted by 9.7 percent to P518.7 billion in October, a 42.89 percent billion from last year’s P574.4 billion. higher than the P22.070 billion This was raised through global posted in October 2020. bonds (P146.17 billion), program The bulk of both amortization loans (P139.98 billion), euro-deand interest payments were made nominated bonds (P121.97 billion), for domestic borrowings valued at a project loan (P86.41 billion), and P52.706 billion and P23.989 billion, yen-denominated samurai bonds respectively. (P24.19 billion). See “Govt,” A2 See “Borrowings,” A2
By Samuel P. Medenilla
@sam_medenilla
By Tyrone Jasper C. Piad
IM
PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. The country will celebrate the 158th birth anniversary of Filipino revolutionary hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO
OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND
DAMAGED property is seen from the air in Dickson County, Tennessee on Saturday, December 11, 2021, after heavy storms hit the area. Tornadoes and severe weather caused catastrophic damage across multiple states late Friday, killing several people overnight. GEORGE WALKER IV/THE TENNESSEAN VIA AP By Jasper Emmanuel Y. Arcalas
dating its registry following the enactment of the Coconut Farmers and Industry Trust Fund law. Rosales explained that about 500,000 coconut farmers and Statistics Authority (PSA) indiworkers were added to the PCA’s cated that pig population at the 2018 list that had about 2.5 million start of the fourth quarter rose coconut farmers and farm workers. by 2.3 percent from the 9.644 The PCA’s next step is to conmillion heads recorded on July 1. duct an exclusion-inclusion pro Historical PSA data showed cedure by making the updated that this is the second consecufarmers’ registry public, providtive quarter that the country’s ing everyone the opportunity to pig herd went up after it hit an all check the veracity of the list, Rotime low on April 1, when it fell sales added. to 9.56 million heads. “The list will be posted in public PSA data showed that repopuspaces where people can easily see
them. This allows everyone to see who are listed in the registry and if farmer doesn’t see his name then he shall coordinate with the PCA immediately,” he explained at a recent lation among backyard hog raisers dialogue with coconut farmers. outpaced that of commercial pig “On the other hand, if people farms. Total swine population in would see names on the list and backyard farms as of October 1 they think they are not coconut rose by 3.5 percent to 7.117 milfarmers or their details are incorlion heads from 6.876 million rect, they can report it to the PCA recorded in July. for immediate action,” he added. Commercial pig farm popula The PCA official noted that tion, meanwhile, declined slightly the completion of the initial list to 2.749 million heads from 2.767 of coconut farmers registry would million heads in July, based on be just in time for the expected latest PSA data. rollout of coconut levy-funded
programs as President Duterte is expected to sign the industry development plan in early 2022. Rosales said the PCA will not stop updating its list of coconut “[The increase in pig popufarmers and enjoined them to reglation] is the result of some reister in order to reap the benefits populating early this year. The of the decades-long idled coconut increase will be double in the levy fund. “We will not stop at 3.1 following quarters with the conmillion. We hope that more inditinuous additional repopulation viduals will register in our coconut during the second quarter of this farmers registry,” he said. year,” Chester Warren Y. Tan, The updating of the coconut president of National Federafarmers registry is mandated by tion of Hog Farmers Inc., told the Republic Act (RA) 11524 or the BusinessMirror. Coconut Industry Trust Fund Act.
HOG POPULATION EXPANDS TO 9.866M IN OCT–PSA
@jearcalas
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ORE than 3 million coconut farmers and By Jasper Emmanuel Y. Arcalas workers are now regis@jearcalas tered with the government’s registry, which serves as the basis he country’s pig population for the number of people to be is showing signs of recovcovered by the utilization of the ery from the devastation P75-billion coconut levy fund. of African swine fever (ASF) as it Philippine Coconut Authority expanded for the second consecu(PCA) Deputy Administrator Roel tive quarter and reached 9.866 M. Rosales said about 3.11 million million heads on October 1, latest coconut farmers and farm workgovernment data showed. ers have been registered with the Data released by the Philippine government since it started up-
PESO PESO EXCHANGE EXCHANGE RATES RATES nn US US 50.2770 50.4600
See “Hog population,” A2 See “3-M farmers,” A2
@Tyronepiad
NTER NATIONA L concerns over the possible spread of the EMBERS of the World more infectious Omicron CoTr a d e O r g a n i z at i o n vid-19 variant prompted the gov(WTO) have eased Covernment to reimpose mandatory id-19- related trade restrictions as facility-based quarantine for all they gear towards facilitating more arriving passengers in the country. movement of goods in pandemic, Acting Presidential spokesperaccording to the group’s annual son Karlo B. Nograles announced review report. on Sunday that the Inter-Agency WTO Director-General Ngozi Task Force for the Management Okonjo-Iweala said the number of of Emerging Infectious Diseases Covid-19 related trade facilitating (IATF) suspended the implemenmeasures is nearly twice as much tation of its Resolution No. 150as the trade-restrictive policies now A (s.2021), effectively imposing since the pandemic began. stricter protocols for all inbound Out of the 117 export restrictravelers. tions, only 45 measures have reTo note, IATF Resolution 150mained, she noted. These cover A had allowed fully vaccinated products such as medicines, other non-visa travelers from Green List medical supplies and personal proareas to enter the country withtective equipment. out the need for facility-based “I urge members to roll back quarantine as long as they secure these restrictions as soon as posnegative Reverse Transcriptionsible as they may be hampering the Polymerase Chain Reaction (RTCovid-19 response, including vacPCR) test within 72 hours prior cine production and deployment,” to their departure. the WTO official said. “Except for countries classified “The monitoring report makes as ‘Red,’ the testing and quarantine clear that the multilateral trading protocols for all inbound internasystem has been, and continues to be, tional travelers in all ports of entry an important factor in our response shall comply with the testing and to the pandemic,” she said. “But we quarantine protocols for ‘Yellow’ also know that trade and the WTO list countries,” Nograles said, citing can and must do more to foster prothe provision of IATF Resolution duction of, and equitable access to, No. 151-A. sufficient quantities of Covid-19 vacHe noted Hong Kong, which has cines, diagnostics and therapeutics.” confirmed a case of the Omicron As such, Okonjo-Iweala urged variant, will also fall under the Yelthe members to finalize an agreelow list countries. ment on pandemic response by the The suspension of the rules for end of February, including the con“Green List” countries will be in cerns surrounding the intellectual effect from November 28, 2021 to property. December 15, 2021.
n n SINGAPORE SINGAPORE 36.8968 36.8492 n n JAPAN JAPAN 0.4432 0.4374 n n UK UK 66.4813 67.2329 n n HK HK 6.4483 6.4722 n n CHINA CHINA 7.8831 7.9013 n n AUSTRALIA AUSTRALIA 35.9430 36.2807 n n EU EU 56.7828 56.5758 n n SAUDI SAUDI ARABIA ARABIA 13.4025 13.4531
See “Trade,” A2 Continued on A2
Source: BSP (December 10, 2021) Source: BSP (November 26, 2021)
News
BusinessMirror
A2 Monday, December 13, 2021
TC starts anti-dumping probe into cement from Vietnam
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By Tyrone Jasper C. Piad @Tyronepiad
HE Tariff Commission (TC) has begun the formal investigation into the antidumping case lodged against the importation of Vietnam cement products used for infrastructure construction.
In a recent notice, the TC said that it has been looking into the merits of imposing a definitive anti-dumping duty against the Ordinary Portland Cement Type 1 and Blended Type 1P import from Vietnam. This is in line with Section 711 of Republic Act 10863 or the Customs Modernization and Tariff Act, which adopted the provision of the Anti-Dumping Act of 1999. The commission, as such, is set to hold a preliminary conference on
December 20 to be attended by all interested parties, including those who participated in the initial probe by the Department of Trade and Industry (DTI). It will be an avenue to discuss the timelines, nature of investigation, appearance of counsel and parties, number of witnesses, notification, accessibility of documents and public and confidentiality of documents. In addition, the conference will tackle the submission of position
Hog population...
Tan added that it was not surprising that the backyard hog raisers had a higher hog population compared to that of com-
Continued from A1
mercial raisers as they account for 65 percent to 70 percent of the country’s pre-ASF pig population of about 12.5 million to
papers and memoranda, conduct of inspection and verification of data, schedules of public hearings and other activities and other related concerns. The TC probe came after the DTI’s announcement earlier this month regarding the imposition of provisional anti-dumping duty in the form of cash bond on said Vietnam cement imports. It will be in place for four months beginning the issuance of the relevant memorandum order. For Type 1 cement, the provisional anti-dumping duty will range from $1.02/metric ton (MT) to $10.53/MT, which is equivalent to 2.69 percent to 31.87 percent of the export price. The computed duties for Type 1P cement, meanwhile, are from $1.16/MT to $12.79/MT or 3.80 percent to 29.20 percent of the export price. The provisional duties are estimated to hike the import cost of a 40-kilogram bag of cement by P2.01 to P25.08. But Trade Secretary Ramon M. Lopez assured it will not increase the retail price of the cement due to its minimal impact on
landed cost. The DTI investigation revealed that 9 out of 16 Vietnamese exporters of Type 1 cement and 4 out of 12 exporters of Type 1P cement have been dumping in the country. Based on the electronic Bureau of Customs-Single Administrative Documents, the computed volume of dumped cement reached 4.26 million MT or 55 percent of the total Philippine imports from July 2019 to December 2020. This is much higher than the de minimis volume requirement of 3 percent. The cement dumping hurt the local manufacturers, the DTI said, noting it stunted their growth. Their market share, for one, decreased to 74 percent in 2020 from 85 percent in 2017. This, as the share of cement imports from Vietnam rose to 23 percent in 2020 from 18 percent the previous year. Dumping refers to exporting of product at a much lower price for the foreign importing country compared to the cost in the exporters’ local market.
12.7 million heads. Philippine Chamber of Agriculture and Food Inc. (PCAFI) President Danilo V. Fausto said hog raisers have learned to live with the dreaded ASF disease as they adopted biosecurity mea-
sures, allowing them to raise pigs securely. Fausto added that the supply shortage coupled by the increased demand for pork this Christmas season drove hog raisers to repopulate. “Hog raisers are beginning to gain the confidence to repopulate again, especially the backyard raisers. They have learned to live with ASF,” he told the BusinessMirror. Fausto said the bulk of the repopulation that has been seen this year was the result of industry players’ initiatives and investments. He noted that the government’s massive repopulation program will begin next year. “The P4-billion budget of the government for repopulation is for next year. What we are seeing now is the result of private sector investments,” he said. In October, the Department of Agriculture (DA) said it is banking on the P4- billion proposed budget for its ASF-related programs to repopulate the hog farms next year. The DA has earlier set aside a P400-million fund to kickstart the repopulation program. ASF has caused the culling of at least 400,000 pigs nationwide since the presence of the fatal hog disease was confirmed in the country in August 2019. Based on thge government’s latest report, ASF is actively present in Nueva Vizcaya, Quezon, Marinduque, Northern Samar, Eastern Samar, Misamis Oriental, North Cotabato, Surigao del Sur, and Agusan del Norte. The government said more than 500 areas in the country have not reported any ASF cases. The Bureau of Animal Industry recently reminded travelers, including returning overseas Filipinos, not to bring pork and other pork products as “pasalubong” this holiday season to avert the possible spread of ASF in provinces that are free from the disease.
Govt...
Continued from A1
The national government’s debt payments as of end-September this year have already exceeded the amount it paid for the entire 2020. The government’s debt service bill from January to September has hit P963.86 billion, eclipsing the P962.47 billion for the full-year 2020. Year-on-year, debt payments in the 9-month period have risen by 15.47 percent from the P834.72 billion recorded in the comparable period in 2020.
www.businessmirror.com.ph
Trade...
Continued from A1
According to the report, 399 Covid-19 trade and trade-related measures in goods have been put in place by WTO members and observers since the pandemic happened. Majority or 66 percent of these measures were for trade facilitation while the remaining were deemed trade restrictive. Export restrictions comprised 85 percent of all the restrictive measures, 59 percent of which were repealed by October this year. Some 22 percent of the tradefacilitation measures, meanwhile, were terminated. About 205 of these are still being implemented. “The trade coverage of ongoing Covid-19 trade-facilitating measures still in force was estimated at $112.1 billion while the coverage of trade-restrictive measures stood
FIA bill...
at $92.3 billion,” the WTO noted. This year, WTO sees merchandise trade to grow by 10.8 percent, an upgrade from the previous 8-percent forecast. The figure is expected to slow down to 4.7 percent next year. The projections are based on the assumption that global gross domestic product growth figures will reach 5.3 percent in 2021 and 4.1 percent in 2022. “The economic recovery has been boosted by sustained monetary and fiscal policy support in advanced economies as well as in developing economies with sufficient fiscal space. Another factor promoting recovery has been the gradually improving production and dissemination of Covid-19 vaccines,” WTO said.
Continued from A1
Among the salient features of the bill is the creation of the InterAgency Investment Promotions Coordination Committee (IIPCC), which shall be the body that will integrate all promotion and facilitation efforts to encourage foreign investments in the country. Under the bill, the Department of Trade and Industry (DTI) will act as the IIPCC lead agency. The measure also mandates the IIPCC to establish both a mediumand long-term foreign investment promotion and marketing plan. As part of the drive to liberalize
and attract more investors, the bill reduces the number of direct hires that foreign firms are required to have, from 50 to just 15 workers. A minimum paid-in capital of $100,000 shall be allowed to nonPhilippine nationals. The alien firms are also allowed by the measure to set up, and have 100-percent ownership, of small and medium enterprises as long as their products and services do not fall within Lists A and B of the Foreign Investment Negative List provided under this proposal.
Ex-Comelec...
Continued from A12
Aside from the case filed by the Pudno Nga Ilocano group, Marcos is faced with seven other petitions also seeking the cancellation of his Certificate of Candidacy or disqualification, or both. Marcos’s camp condemned what they called “nuisance cases” and claims these merely deprive the public from choosing the candidates they want in an election. Marcos’s allies also questioned the timing of the said cases, especially since the son of the former dictator and president Ferdinand E. Marcos, Sr. already served a governor, congressman and as senator even after he was convicted for tax violations. Monsod, however, clarified that there were already two cases, which questioned Marcos’ qualification before, when he ran for local position. He further said that more parties have raised the issue since Marcos is now gunning for the highest elected position in the land with “vast executive powers” and, thus, must be subjected to further scrutiny.
More representation
ON the matter of party-list representation, the former Comelec official issued his recommendations to finally address the legal “loopholes.” According to Monsod, these loopholes allow rampant abuse of the party-list system by some unscrupulous politicians. While the party-list scheme is far from perfect, Monsod said even the
few party-list representatives, who represent genuine marginalized sectors, are still making a difference in the House of Representatives by raising unpopular issues in legislative discourse. Thus, he noted the limit of having a maximum of three seats per party-list group under the Partylist System Act should be removed so they could have a greater voice in Congress. “Since it is principally a proportional representation there should be a limit,” Monsod said. However, to make sure party-list groups will have proper representation, he proposed removing the provision of the law, which allowed mere advocates of marginalized sectors to represent them in Congress. “The appointee or nominee of party-list must belong to the party. In other words, if you are a farmer’s group, you must be a farmer,” Monsod said. The former Comelec chairman also recommended the inclusion of an “anti-dynasty provision” to be included in the party-list system as an additional safeguard. With the three reforms, Monsod said he is confident most of the current issues on party-list groups will be addressed. The former poll official amid calls from some groups for abolition of the party-list scheme since it is supposedly being abused by some politicians to easily get a seat in Congress.
Online scams...
Continued from A12
Financial protection
ALSO, Salceda, principal author of House Bill 6768, or the Consumer Financial Protection Act, called on the Senate to pass its own version of the law to protect users of banking and other monetary services, in response to recent incidents of phishing, hacking, and other financial services scams. “Unfortunately, we do not have a comprehensive framework for protecting the users of online financial services just yet. The Bangko Sentral ng Pilipinas [BSP] deals with issues on a per-circumstance basis, but our laws are not yet there. As a result, scammers feel emboldened to cheat others of their hard-earned money,
because the BSP cannot possibly be everywhere, monitoring financial products,” Salceda said. “I call on the Senate to pass the measure urgently, especially as our financial regulators also support the measure,” he added. According to Salceda, the bill allows consumers to elevate their complaints to the BSP, and the BSP to file independent civil action, if the banks do not handle complaints in a satisfactory way. “Cybersecurity and user protection is still particularly lacking. User verification systems, identification features, are still very susceptible. Users are also not properly or adequately informed about scams,” he said.
Economy BusinessMirror
www.businessmirror.com.ph
Editor: Vittorio V. Vitug • Monday, December 13, 2021 A3
DOLE suspends inspection of firms for labor standards
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By Jovee Marie N. Dela Cruz
@joveemarie
O enable the labor department to dispose of all pending labor standards cases and prepare the inspection program for 2022, the Department of Labor and Employment (DOLE) has suspended all labor inspection activities this month. Through Administrative Order 269 (Series of 2021), Labor Secretary Silvestre H. Bello III directed all DOLE regional directors to tem-
porarily cease all labor inspection activities in their respective regions starting December 1. However, the following are ex-
empted from the suspension of inspection: Occupational Safety and Health (OSH) Covid-19 Monitoring under Joint Memorandum Circular 20-04A of the DOLE and the Department of Trade and Industry (DTI); complaint inspections; OSH standards investigations; technical safety inspections, such as inspection of boilers, pressure vessels, and mechanical and electrical wiring installation; and, inspection of any establishment or industry. “Such activities shall be conducted in strict observance of the minimum public health standards,” Bello added. A total of 56,332 establishments were inspected by the DOLE as of October 31, according to the
labor department. The initial compliance rate is at 84.18 percent on general labor standards, 57.93 percent on OSHS and 95.81 percent on minimum wage. During the period of suspension, DOLE regional directors shall ensure that all results of inspection activities are uploaded to the Management Information System (MIS) before the end of December. In preparation for the resumption of inspection activities in 2022, all DOLE Regional Directors are also directed to submit the list of Labor Inspectors recommended for inclusion in the 2022 General Authority and Foreign National Labor Inspectors recommended for issuance of the 2022 Travel Order.
“Consistent with the minimum qualification standards, the labor inspector recommended for General Authority must be holding at least a permanent Labor and Employment Officer III plantilla position and must have attended and passed the 10day basic training course for Labor Inspectors,” Bello said. He added that the labor inspector must also have a “very satisfactory” performance rating for the last two rating periods and must have no pending administrative or criminal case. Bello said personnel who have passed the Basic Training Course and have been previously issued with General Authority but were not included in the 2021 list may also be recom-
mended for the 2022 inspection. The conduct of routine inspections shall resume upon issuance of the 2022 General Authority for Labor Inspectors. After the inspected establishments have implemented the necessary corrections, the compliance rate is at 90.47 percent on the general labor standards and 67.01 percent on OSHS. Among the notable violations on general labor standards pertain to record-keeping, Pag-IBIG (Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno) coverage, remittances to Pag-IBIG, PhilHealth (Philippine Health Insurance Corp.) and the SSS (Social Security System).
Govt steps up monitoring of foreign workers in PHL A
S the country allows the entry of foreign labor even in the face of the pandemic, the Department of Labor and Employment (DOLE) and the Philippine Retirement Authority (PRA) have recently signed an agreement allowing the free exchange of foreign
national data to monitor their economic activities in the Philippines. With the exchange of data between the two agencies, the DOLE said the government will further strengthen its monitoring of the economic activities of foreign nationals, including retirees.
“This data-sharing agreement will facilitate the exchange of information between DOLE and the PRA for better coordination, rendering of services and monitoring of foreign nationals within our purview,” Labor Secretary Silvestre H. Bello III said. Under the agreement, the DOLE
and the PRA can now verify the employment information of their Special Resident Retiree’s Visa (SRRV) holders or those foreign nationals who chose to retire in the Philippines, through the labor department’s Alien Employment Permit (AEP) database. The labor department issues an
AEP to authorize a foreign national to work in the Philippines. In the same statement, PRA General Manager and Chief Executive Officer Bienvenido K. Chy said, “the pressing challenges of the pandemic impel us to forge/solidarity and cooperation in promoting and monitoring
the employment activities of foreign nationals in our country.” Under the agreement, the exchange of employment information and/or data will be done quarterly via electronic mail or other forms of data transmission agreed upon by both parties. Jovee Marie N. Dela Cruz
The Nation
A4 Monday, December 13, 2021 • Editor: Vittorio V. Vitug
BusinessMirror
Govt bags $600-M WB loan to boost economic recovery
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By Cai U. Ordinario
@caiordinario
HE Philippine government has secured another loan from the World Bank to boost the country’s economic recovery from the pandemic. The Board of Executive Directors of the World Bank approved a $600-million loan to support the Philippine government’s reform program designed to position the country for a competitive and resilient economic recovery. Specifically, the loan will support efforts to amend the Retail Trade Liberalization Act to promote private investment, reduction in the cost of doing business and expansion of broadband services to promote investments in information and communications technology. “Reforms that promote com-
petition in broadband and mobile telecommunications will benefit a large portion of underserved populations by increasing coverage and quality of service, increasing their access to markets, as well as access to remote education and health services,” Ndiamé Diop, World Bank country director for Brunei, Malaysia, Philippines and Thailand, said. The World Bank added that the new loans—a development policy loan (DPL)—aims to provide quickdisbursing assistance to countries undertaking reforms.
DPLs typically support policy and institutional changes needed to create an environment conducive to sustained and equitable growth as defined by borrower-countries’ own development agenda. Support for increasing resilience of communities through better digital infrastructure is also part of this new lending program. “The government has introduced the Philippine Identification System or PhilSys as a digital identification platform to foster the digital economy and increase access to public services,” World Bank Senior Economist Rong Qian said. “This is expected to increase access to and improve delivery of public services by providing Filipinos with a unique, verifiable digital identity.” Qian added Filipinos can use this foundational ID for key public and private transactions, including opening bank accounts, identifying and verifying social assistance beneficiaries and making pension pay-
ments by 2022. Meanwhile, the Philippines lags behind its peers in East Asia and the Pacific Region in terms of inflows in direct foreign investment, including in its retail sector. Reforms in the retail trade sector are expected to promote investments by leveling the playing field between domestic and foreign operators, thus generating employment, widening consumer choices and increasing the inflow of new technologies. Further, Internet access has been essential during the pandemic as employed individuals have shifted to home-based work and schoolaged children have relied on distance learning. “Similarly, reforms that lower the costs of trade and improve the business environment are expected to benefit all firms but especially small and medium enterprises, which will have access to a larger market for their products and services,” Diop added.
www.businessmirror.com.ph
Cayetano warns vs rushing OK of e-sabong franchises By Jovee Marie N. Dela Cruz @joveemarie
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SENIOR lawmaker said granting legislative franchises to e-sabong outlets is unnecessary to augment government funds for pandemic recovery. Former Speaker Alan Peter S. Cayetano made a statement as he urged to 18th Congress not to rush the passage of e-sabong measures. Cayetano said government revenue from e-sabong operations pales in comparison to other sources of government income. “Just look at the budget for next year. We have P5 trillion for our national budget. If we are going to look at it as a pandemic budget, e-sabong’s contribution to government coffers is a mere dot,” he said. “We shouldn’t rush this. We need to discuss this thoroughly since granting a 25-year franchise is not a simple matter.” Philippine Amusement and Gaming Corp. (Pagcor) officials noted that e-sabong and other forms of online gambling experienced an upsurge during the Covid-19 pandemic. The former Speaker also said Congress should continue to thoroughly
discuss the social ills surrounding e-sabong. Cayetano also urged his colleagues in Congress to instead pursue a direct stimulus program that can increase consumption, revive small businesses, and inject money into the country’s pandemic-stricken economy. He said the national government should focus on keeping families intact by strengthening their livelihood instead of tearing them apart through the promotion of addictive vices. “Now that we’re still struggling with a pandemic, this is the most important time to keep our families together and intact. How is that possible when gambling has this potential to destroy families?” Cayetano said. The House of Representatives approved on third and final reading last September 21 a bill that would grant the e-sabong outlet Lucky 8 Star Quest Inc. a 25-year legislative franchise. The House Ways and Means panel later approved a bill seeking to grant the Visayas Cockers Club Inc. a similar legislative franchise.
DAR: Land-conversion guidelines more responsive under pandemic Brawner By Jonathan L. Mayuga @jonlmayuga
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HE Department of Agrarian Reform (DAR) has amended certain provisions of Administrative Order 3A (series of 2021) to ensure the land conversion authority of the DAR “is responsive to the urgent needs under the health emergency.” “Special Project Undertakings” (SPUs) of the government are treated as critically-important in conversion applications. These projects include those the DAR said must meet the following criteria: bring more benefits to the public; absolutely necessary for the community; would bring more opportunities to the residents in the community; promote public use; help boost the economy; alleviate the lacking economic needs of the community where the project is intended to be had; or, would be beneficial to the underprivileged or homeless citizens. “Such endeavors consist of, but are not limited to, [the following:] agro-industrial; low-cost or socialized housing; power generation or distribution; water generation; and,
telecommunications,” DAR Secretary Bernie F. Cruz was quoted in a statement as saying. Interested landowners or agrarian reform beneficiaries (ARBs) or the duly-authorized representatives must apply for conversion for SPUs” to the concerned regional director if the landholding for conversion is not more than five hectares. “All applications for conversions for landholdings involving an area of less than five hectares shall be acted upon by the concerned regional director,” Cruz explained. According to the DAR, the application must be filed with the Land Use Cases Division-Bureau of Agrarian Legal Assistance, which shall be acted upon by the DAR Secretary or a duly-authorized office or committee. “In determining the total land area under application for conversion, the area of the adjacent land [that] has been converted for a similar purpose by previous conversion grant regardless of the owner shall be considered,” Cruz said. A certification from the proponent agency or the local government unit (LGU) involved in the project is required to be submitted for the
application for conversion of SPUs, except those involving agro-industry projects. “A conversion application for an energy project like power generation, transmission, or distribution must be certified by the Department of Energy or the National Electrification Administration or the LGU, whichever is involved in the project,” he said. Requiring certification by the Department of Human Settlements and Urban Development or the NHA or the LGU involved in the project or by the agency that is the proponent of the project include the conversion application for socialized housing projects of the National Housing Authority (NHA) or by the LGU or by a private entity, which complies with the low-cost housing standards of the NHA as determined by the Socialized Housing Finance Corp. The rule applies to those which are under the coverage of the National Home Mortgage Finance Corp. and such other similar projects. A conversion application for a telecommunication site or areas shall be certified by the National Telecommunications Commission or
the Department of Information and Communications Technology or the LGU involved in the project or by the agency which is the proponent of the project, according to Cruz. A conversion application for water-related projects and such other similar projects shall be certified by the Metropolitan Waterworks and Sewerage System or the Local Water Utilities Administration or the LGU involved in the project or by the agency, which is the proponent of the project. A conversion application for resettlement or relocation sites for disaster-stricken areas for displaced informal settlers shall be certified by the National Disaster Risk Reduction and Management Council or the LGU involved in the project or by the agency which is the proponent of the project, that it is a priority resettlement or relocation project. A conversion application for the use of agricultural lands as a site for national government infrastructure projects shall be certified by the proponent agency like the NIA, the Department of Public Works and Highways or the Department of
Transportation or the LGU involved in the project that it is a priority infrastructure project. A conversion application for an agro-industry project shall no longer require any certification from the Department of Agriculture or any agency. It is sufficient that the LGU, if any, which is involved in the project shall certify that it is a priority project, in the absence of any participating LGU, the DAR shall evaluate the merits of the application and make the determination. All applications for conversion for agro-industry or agro-industrial undertakings will only be approved if it is determined by the DAR within 30 days that it is a priority project necessary for the increase in yield and income of farmers. The latter includes ARBs, agrarian reform communities, ARB organizations and agrarian reform cooperatives. All applicants must prove that they have the necessary financial, logistical, technological, organizational, and other resources to complete the agro-industry or agro-industrial project within the total area covered in the application within a period of five years.
Govt repatriates 17 Pinoys from civil war-torn Ethiopia By Malou Talosig-Bartolome
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ILIPINO workers and their children from conflict-stricken Ethiopia are safely returning back to the Philippines. Seventeen Filipinos, including five children and an infant, were able to fly from Addis Ababa via a commercial flight, EgyptAir, to Cairo International airport Saturday, Philippine Ambassador to Egypt Ezzedin H. Tago said. From Cairo, the Pinoy repatriates took the Gulf Air flight for CairoManama-Manila route. They arrived last December 12. They are the first batch of Filipino repatriates who were evacuated safely from Ethiopia since the Philippine government ordered the mandatory evacuation of around 800 Filipinos there last November 11. The Philippine Embassy in Egypt facilitated the repatriation since there is no Philippine Embassy in the Horn of Africa. Ethiopian government forces and their neighboring ally Eritrea have been fighting against the Tigrayan rebels for just one a year. The civil unrest has killed roughly 300,000, with multiple reports of sexual violence and other atrocities committed
by all sides to the conflict. “In preparation for the repatriation, the Philippine Embassy in Cairo worked closely with the Philippine Consulate in Addis Ababa, Egyptian Passport and Immigration Administration, Cairo International Airport Authority, EgyptAir and Gulf Air-Egypt. The repatriates were also briefed on health and quarantine protocols in Ethiopia, Egypt and the Philippines,” the Embassy said in its Facebook Post. Last August, three months before the alert level has been raised to 4, almost 300 Filipino construction workers from the Turkish Yapi Merkezi company were repatriated by their employer after the Tigray rebels attacked the railway that they were building. It is not yet known how many Filipinos are still staying or have opted to stay in Ethiopia despite deteriorating security condition there and reports of Tigray forces advancing to the capital. The Embassy simply reminded them to “to exercise caution, avoid public gatherings and observe safety at all times.” Aside from Eritrea, the Embassy is also facilitating the repatriation of other distressed Filipinos in Sudan.
PINOY FESTIVAL Representatives of the Tarlac Lingap Center of the Department of Social Welfare and Development (DSWD) showed their winning form during the awarding ceremony of the 2021 Belenismo Festival in Tarlac province, the ‘Belen’ (nativity scene) capital of the Philippines. The DSWD Tarlac Lingap Center’s giant parol (star lantern) won first prize in the Grand Non-Municipal category. BERNARD TESTA
seeks review of Army’s resource use By Rene Acosta @reneacostaBM
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EWLY installed Army Commanding General Major General Romeo Brawner Jr. underscored the need to further equip and train their skills along with the prudent use of the organization’s resources. Braw ner became the A rmy chief last Friday, succeeding the now-Armed Forces Chief of Staff Lt. Gen. Andres Centino. During his first command conference, the officer said there is a need to enhance soldiers’ knowledge and skills so that they can do their task and duties well. He said the 100,000-strong organization’s resources should also be pushed down to Army units in the field. Brawner said that with wellequipped and competent soldiers given the right resources, the Army should deliver victory against threat groups while ensuring a “fair, credible and peaceful 2022 elections.” As part of ensuring the readiness and maintaining the physical health of Army troopers, Brawner said the command will resume next year the conduct of physical fitness tests while underscoring the importance of implementing a concrete program for the mental health and well-being of soldiers. In the campaign against threat groups, Brawner ordered intelligence units to step up their operations and capabilities in support of intelligence-driven operations. He vowed to push down all needed resources to all Army units, assuring that the command will ensure that financial resources will be spent judiciously and responsibly. “If we will pursue these thrusts, we will be victorious against our enemies. We will be able to hit our target to eradicate insurgency by June 2022,” Brawner said. “It’s an ambitious target but let us do our best.” The Army chief also underscored the need to pursue the Army Transformation Roadmap that will transform the organization into a modern army while emphasizing the need for every soldier to come up with a scorecard. Brawner said that the Army would also recruit quality reservists who would effectively complement regular troops.
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Editor: Angel R. Calso
Taiwan records 1st Omicron case in traveler from Africa
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A I P E I , Ta i w a n — Taiwan has recorded its first case of the Omicron variant in a passenger who recently traveled to the souther n A f r ican countr y of Eswatini, health officials said Saturday. The passenger, a Taiwanese woman in her 30s who returned
on Dec. 8, is now in quarantine in hospital, according to the Central Epidemic Command Center, which is in charge of the island ’s pandemic response. Passengers who sat near her on the plane have tested negative so far. Taiwan reported 10 new coronavirus cases on Saturday, all of which were identified in travelers entering from abroad.
The self-ruling island has a strict two-week quarantine on arrival and has sealed its borders off to all but residents and citizens, with few exceptions. There is little community transmission within its borders of the disease and there have been few restrictions on movement internally in recent months. Mask wearing is nearly universal.
While the Omicron variant is called a “variant of concern” by the World Health Organization, scientists are still working to determine how it may compare w it h t he predomina nt Delt a variant in terms of transmissibility and severity. Taiwan has reported 16,731 Covid-19 cases in total and 848 deaths. AP
England could face 75,000 deaths this winter–Study
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he Omicron variant has the potential to cause a wave of Covid infections in England and fuel almost 75,000 deaths this winter, if the government doesn’t impose additional precautionary control measures, according to a research report by the London School of Hygiene & Tropical Medicine. Under the government’s “Plan B” rules imposed last week in response to Omicron, the most optimistic scenario for England indicates about 175,000 hospital admissions and 24,700 deaths for the five-month period from December to April. The worst-case projection is for 74,800 deaths. That is more than half the 127,154 fatalities registered in England since the start of the pandemic. England accounts for more than two thirds of almost 172,000 deaths in all of the United
Kingdom, which includes Scotland, Wales and Northern Ireland. The research is not yet peer reviewed, LSHTM said on its web site. “The team used the latest experimental data on the antibodyevading characteristics of the Omicron variant to explore plausible scenarios for the immune escape of Omicron,” LSHTM said on its web site. The report recommended restrictions on indoor hospitality, gathering sizes and the closure of some entertainment venues that could lower the projected hospitalizations by 53,000 and deaths by 7,600. The government’s Plan B encourages people to work from home and requires mask wearing on public transportation and when visiting retail businesses. Bars and restaurants are exempt from the
mask rules, while nightclubs and other large venues will be required to check vaccination status. “Mask wearing, social distancing and booster jabs are vital, but may not be enough,” said Dr. Rosanna Barnard from LSHTM’s Centre for the Mathematical Modelling of Infectious Diseases (CMMID). The UK reported more than 58,000 new Covid infections on Friday, marking the highest level since January. Before Omicron was first detected in the country two weeks ago, the Delta variant was driving a surge in infections, despite the UK having one of the most successfully vaccination programs in the world. More than 80% of the adult population has had two shots and the government imposed the Plan-B rules to try to buy time to speed its booster program. Al-
most 40% of adults have received a third shot. Meanwhile, UK Health Security Agency officials have advised ministers that “stringent national measures” should be taken by December 18 to avoid hospitalizations surpassing last winter’s peak, the Guardian reported. Further measures, referred to as Plan C, could include stricter isolation rules for people exposed to Covid and further limits on visitors to care homes and hospitals, mask wearing in pubs, and a hospitality shut-down, wrote the Guardian. The government of Prime Minister Boris Johnson may be mulling additional measures, but is already facing growing opposition from conservative lawmakers to restrictions, especially during the holiday period. Bloomberg News
Monday, December 13, 2021 A5
S. African doctors see signs Omicron is milder than Delta
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OHANNESBURG—As the Omicron variant sweeps through South Africa, Dr. Unben Pillay is seeing dozens of sick patients a day. Yet he hasn’t had to send anyone to the hospital. That’s one of the reasons why he, along with other doctors and medical experts, suspect that the Omicron version really is causing milder Covid-19 than Delta, even if it seems to be spreading faster. “They are able to manage the disease at home,” Pillay said of his patients. “Most have recovered within the 10 to 14-day isolation period,” said Pillay. And that includes older patients and those with health problems that can make them more vulnerable to becoming severely ill from a coronavirus infection, he said. In the two weeks since Omicron first was reported in Southern Africa, other doctors have shared similar stories. All caution that it will take many more weeks to collect enough data to be sure, their observations and the early evidence offer some clues. According to South Africa’s National Institute for Communicable Diseases: n Only about 30% of those hospitalized with Covid-19 in recent weeks have been seriously ill, less than half the rate as during the first weeks of previous pandemic waves. n Average hospital stays for Covid-19 have been shorter this time— about 2.8 days compared to eight days. n Just 3% of patients hospitalized recently with Covid-19 have died, versus about 20% in the country’s earlier outbreaks. “At the moment, virtually every-
thing points toward it being milder disease,” Willem Hanekom, director of the Africa Health Research Institute, said, citing the national institute’s figures and other reports. “It’s early days, and we need to get the final data. Often hospitalizations and deaths happen later, and we are only two weeks into this wave.” In the meantime, scientists around the world are watching case counts and hospitalization rates, while testing to see how well current vaccines and treatments hold up. While Delta is still the dominant coronavirus strain worldwide, Omicron cases are popping up in dozens of countries, with South Africa the epicenter. Pillay practices in the country’s Gauteng province, where the Omicron version has taken hold. With 16 million residents, it’s South Africa’s most populous province and includes the largest city, Johannesburg, and the capital, Pretoria. Gauteng saw a 400% rise in new cases in the first week of December, and testing shows Omicron is responsible for more than 90% of them, according to health officials. Pillay says his Covid-19 patients dur ing the last Delta wave “ had trouble breathing and lower oxygen levels. Many needed hospitalization within days,” he said. The patients he’s treating now have milder, flu-like symptoms, such as body aches and a cough, he said. Pillay is a director of an association representing some 5,000 general practitioners across South Africa, and his colleagues have documented similar observations about Omicron. Netcare, the largest private healthcare provider, is also reporting less severe cases of Covid-19. AP
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Monday, December 13, 2021
UK seeks unity at G-7 meeting over Russia’s ‘malign behavior’
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IVERPOOL, England—Top diplomats from the Group of Seven industrialized nations met Saturday in Liverpool for talks dominated by Russia’s buildup of troops near Ukraine’s border and what host country Britain called Moscow’s “malign behavior” around the world. The U.K. called for “a show of unity against global aggressors” as it welcomed US Secretary of State Antony Blinken and other G-7 foreign ministers amid the Russia-Ukraine crisis and tensions with China and Iran. “We need to defend ourselves against the growing threats from hostile actors,” British Foreign Secretary Liz Truss said as she opened the meeting of foreign ministers from the U.K., the United States, Canada, France, Germany, Italy and Japan. “And we need to come together strongly to stand up to aggressors who are seeking to limit the bounds of freedom and democracy.” The US and its NATO allies are concerned that the movement of Russian troops and weapons to the border region with Ukraine may be a prelude to an invasion and have said they would inflict heavy sanctions on Russia’s economy if that happens. Moscow denies having any plans to attack Ukraine and accuses Kyiv of its own allegedly aggressive designs. A senior US official who participated in Saturday’s discussions said the G-7 ministers were united in their “extreme concern” about develop-
ments on the Russia-Ukraine border. The official said the ministers agreed that any Russian invasion of Ukraine would be met with a response that would bring “massive consequences and severe costs” from the G-7. The official would not elaborate on what those consequences might be but said they would be implemented “very, very fast” if Russia did not heed warnings to back down. The US and its allies have played down talk of a military response to defend Ukraine, with efforts focusing on tough sanctions that would hit the Russian economy, rather than just individuals. In the US, reporters asked President Joe Biden on Saturday about the possibility of sending combat troops to Ukraine, and he said that idea was never considered. “Are you ready to send American troops into war and go into Ukraine to fight Russians on the battlefield,” he said. Biden said he has made it clear to Putin that in the event of an invasion, “the economic consequences for his economy are going to be devastating. Devastating.” European Union foreign affairs
G-7 foreign ministers pose in a socially distanced manner for a group photo at the Museum of Liverpool, Liverpool, England on Saturday, Dec. 11, 2021. Foreign Secretary Liz Truss is hosting US Secretary of State Antony Blinken and other Group of Seven counterparts for weekend talks in the northwest England port city of Liverpool as the wealthy nations club faces growing tensions with Russia, China and Iran. From left, France’s Minister for Europe and Foreign Affairs Jean-Yves Le Drian, Italy’s Foreign Minister Luigi Di Maio, Germany’s Foreign Minister Annalena Baerbock, Canada’s Minister of Foreign Affairs Melanie Joly, Japan’s Foreign Minister Yoshimasa Hayashi, Britain’s Foreign Secretary Liz Truss, US Secretary of State Antony Blinken and European High Representative of the Union for Foreign Affairs Josep Borrell. Phil Noble/Pool via AP
chief Josep Borrell, who is also attending the two-day conference, said the ministers were determined “to make Russia understand that anything that could represent an attack to Ukraine would have a high price.” Getting a unified response from the G-7, a group of countries with disparate interests, has often proved tough. Germany plans on getting gas from Russia soon through the contentious Nord Stream 2 pipeline, which bypasses Ukraine. Britain, which is not dependent on Russian gas, generally takes a tougher line on the pipeline — but faces tough questions about London’s financial district and property mar-
ket, both hubs for Russian money. Truss said she wanted to work with other countries “to make sure that free democratic nations are able to have an alternative to Russian gas supplies.” She met on the sidelines of the gathering with Germany’s new foreign minister, Annalena Baerbock, a politician from the environmentalist Greens who previously opposed Nord Stream 2. Alongside efforts to agree on tough sanctions should Russia invade, efforts to find a diplomatic solution to the Russia-Ukraine crisis appear to be accelerating. The State Department announced Saturday that the top American dip-
lomat for Europe, Karen Donfried, will visit both Kyiv and Moscow next week “to reinforce the United States’ commitment to Ukraine’s sovereignty, independence and territorial integrity” and to seek a resolution. Donfried will go later to Brussels to talk with NATO and European Union allies. China’s muscle-flexing in the Indo-Pacific region and the ailing Iran nuclear deal were also on the agenda for the weekend meeting at the dockside Museum of Liverpool. The gathering is taking place as negotiators meet in Vienna to try to revive an international deal to limit Iran’s nuclear ambitions. Blinken met German, French and British diplomats in Liverpool to discuss next steps over Iran, and the Biden administration’s special envoy on Iran, Robert Malley, also stopped in the city on his way to Vienna. Truss warned this week that the Vienna talks are “the last chance for Iran to sign up” again to the deal, which was meant to rein in Tehran’s nuclear program in return for loosened economic sanctions. Truss also invited ministers from the Association of Southeast Asian Nations to the Liverpool meeting, though many were joining remotely because of the pandemic. Delegates and journalists face daily virus tests and mask mandates at the conference, as Britain records more cases of the Omicron virus variant, which scientists say will become the dominant strain in the UK in the next week or so. Britain is keen to work more closely with Asian nations as part
of an “Indo-Pacific tilt” following the UK’s departure from the 27-nation European Union last year—both to boost U.K. trade and as a counterweight to China’s dominance. Truss told her G-7 counterparts that democracies needed to fight “economic coercion” and “win the battle of technology”—both pointed references to Beijing’s growing influence around the globe. The G-7 has launched a “Build Back Better World” initiative to offer developing nations funding for big infrastructure projects as an alternative to money from China that, the West argues, often comes with strings attached. A unified stance towards China continues to prove elusive, however, with the US and Britain generally more hawkish than other G-7 members. The UK chose a setting steeped in British history and culture for final meeting of its year as G-7 president. Liverpool’s docklands, once a symbol of Britain’s global reach and economic might, came to represent the country’s postindustrial decline, but now the area along the River Mersey is a prime example of 21st century urban renewal. A museum dedicated to the city’s most famous sons, the Beatles Story Museum, was the setting for the G-7 ministers’ dinner on Saturday night. Delegates were serenaded by a Fab Four cover band before eating a locally sourced meal in a recreation of Liverpool’s famous Cavern Club, where the band played many of its early gigs. AP
World’s top central banks hold meetings as inflation forces split The world’s top central banks are diverging, as some turn to tackling surging inflation while others keep stoking demand, a split that looks set to widen in 2022. The differences will be on full display this week with the final decisions for 2021 due at the US Federal Reserve, European Central Bank, Bank of Japan and Bank of England, which are together responsible for monetary policy in almost half of the world economy. They won’t be alone -- about 16 counterparts also meet this week, including those in Switzerland, Norway, Mexico and Russia. The latest wild card is the Omicron variant -- how severe its impact proves to be on growth and inflation will be a crucial consideration for officials into the new year. The worry is that a strain more resistant to vaccines would force governments to impose new restrictions on business and keep consumers at home. A shift in policy always carries risks. Tightening and then discovering the inflation threat was temporary all along -- as many central bankers have said all along -- could derail recoveries; waiting and finding that price pressures are persistent could require more aggressive tightening than otherwise. “The likelihood of policy slipups is now much much greater,” said Freya Beamish, head of macro research at TS Lombard. The inflation outlook is confused by “the presence of an endemic virus,” she said. Fed Chair Jerome Powell is tipped to confirm on Wednesday that he’ll deliver a quicker withdrawal of stimulus than planned just a month ago. He may even hint at being open to raising interest rates sooner than expected in 2022 if inflation persists near its highest in four decades. The outlook for his central banking peers is less clear, marking an end of two years in which they largely synchronized their efforts to tackle the coronavirus recession, only to find inflation surging back stronger than anticipated in many key economies. Although she’s likely to end emergency stimulus, ECB President Christine Lagarde will stick to an expansionary policy stance on Thursday as she insists soaring prices are due to factors that won’t endure, such as energy costs, supply snags and statistical quirks. Lagarde has indicated she doesn’t
expect to raise rates in 2023. Subdued price pressures in Japan are also allowing BOJ Governor Haruhiko Kuroda to hold onto a doggedly dovish stance, even as the government rolls out another round of record spending. Japanese policy makers convene Friday. Perhaps most strikingly, Governor Andrew Bailey’s Bank of England is now cooling on the need to hike rates, having not long ago flirted with a shift. In contrast, Norway’s central bank may hike again. Elsewhere, while the People’s Bank of China has started to ease policy as a property-market downturn threatens to hamper growth, other emerging economies such as Brazil and Russia are aggressively tightening. Russia may do so again this week, as may Mexico, Chile, Colombia and Hungary. Still, Turkey is set to cut again at the urging of President Recip Tayyip Erdogan. “We are set for increasing monetary policy divergence,” said Alicia Garcia Herrero, chief economist for Asia Pacific at Natixis SA. “Rising global inflation, higher commodity prices and weaker currencies likely synchronized rate movements in emerging markets this year. Tighter US monetary policy will probably provide another global force for more rate hikes next year,” said Ziad Daoud, Bloomberg chief emerging markets economist. Even if the path of rates differs, a wide-scale slowing of bond-buying programs will reduce support for economies. BofA Global Research strategists predict liquidity will peak in the first quarter of 2022, and that the Fed, ECB and BOE are on course to shrink their balance sheets to $18 trillion by the end of next year from above $20 trillion at the start of the year. The implications for divisions in global policy could also include a rising dollar against a weakening euro and yuan, potentially stoking currency tensions as China’s exports get another lift. A stronger greenback would also lure money away from emerging markets, undermining their own fragile recoveries. “The increase in the Fed fund rates next year and a stronger US dollar will be a testing time for emerging markets,” said Jerome Jean Haegeli, chief economist at Swiss Re AG in Zurich, and previously of the International Mone-
tary Fund. “The fault lines opened up by Covid-19 are looking more persistent.” At the Fed, a widely-anticipated decision to wind up its bond-buying more quickly could leave it in a position to raise rates as early as March, should it deem that necessary to stem surging inflation. US consumer prices rose the fastest in almost four decades, government data showed Friday. Fed watchers expect the central bank’s new economic forecasts to show for the first time that a majority of policy makers project at least one rate increase in 2022. In the U.K., traders convinced of a liftoff this year pared bets after the emergence of Omicron, and they’ll likely be proved right if comments from the BOE’s most hawkish official serve as a guide. Michael Saunders recently highlighted the benefits of waiting before raising rates from 0.1% to assess the economic impact of the variant. The U.K.’s tight labor market is nevertheless driving up wage growth, and officials are concerned that high inflation, expected to hit a decade high of 5% next year, is seeping into expectations. Unlike the Fed, the BOE’s mandate keeps it focused on prices. At the ECB, Lagarde is also sticking to the narrative that record-high inflation will eventually subside -- even though officials acknowledge that persistent supply bottlenecks mean it may take longer than initially thought, and some policy makers are getting uncomfortable just standing by. With the European economy close to pre-crisis levels, the institution is set to confirm that bond-buying under its signature 1.85 trillion-euro ($2.1 trillion) pandemic program will end in March as planned. Regular asset purchases will continue. Rate hikes, economists surveyed by Bloomberg agree, won’t be on the agenda until 2023. Ultimately, the severity of Omicron will play a huge role in the monetary policy story next year. Two weeks after the variant’s discovery, there are plenty of unknowns. “If the variant dampens demand more than it exacerbates supply-chain disruptions, it could prove disinflationary,” said economist Sian Fenner of Oxford Economics. “But the reverse is equally true.” Bloomberg News
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Biden OKs help for Kentucky after tornadoes kill dozens
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ornadoes ripped across several US states late Friday, killing more than 70 people in Kentucky, at least two at a nursing home in Arkansas and an undetermined number at an Amazon.com warehouse that was partially flattened in Illinois. Kentucky Governor Andy Beshear declared a state of emergency and activated the National Guard in the aftermath of storms that killed people in at least five states. President Joe Biden approved an emergency declaration for Kentucky, mobilizing federal assistance efforts for 15 counties. Biden said he’s monitoring the situation “very closely” and also spoke with the governors of Arkansas, Il-
linois, Missouri and Tennessee. He said if states beyond Kentucky seek federal disaster declarations, he stands ready to approve them. “The federal government will do everything—everything—it can possibly do to help,” Biden said at a news conference Saturday in Delaware. “We’re going to provide everything that’s needed.” Beshear said deaths will amount to at least 70 and possibly exceed 100. He said 110 people had been in a candle factory in Graves County when a tornado hit, and only 40 had been rescued. CNN reported that no one had been found since 3 a.m. Saturday. “It would be a miracle if anyone else is found alive,” Beshear said in an
afternoon briefing, before darkness fell on the first day of rescue efforts. Biden’s declaration authorizes the Federal Emergency Management Agency to coordinate relief efforts in the stricken parts of Kentucky.
Hard to predict
The National Weather Ser v ice warned that nighttime tornadoes “are particularly dangerous” since people may not be listening for severe weather warnings. Unlike hurricanes, the path of a tornado can’t be easily tracked in advance so giving timely evacuation orders is often unfeasible given their swift and often erratic path. Biden said questions will likely be raised about the advance warning of
the storms. “One of the questions that’s going to be raised, I’m confident, is: What warning was there? And was it strong enough? And was it heeded?” Biden said. Damage will easily be in the hundreds of millions, if not $1 billion, said Chuck Watson, a catastrophe modeler with Enki Research. Multiple additional incidents have been reported from four tornadoes that touched down in Kentucky and ripped across an area more than 200 miles long. Thousands of homes in the state were left without power. In Illinois, part of the roof and wall collapsed at a large Amazon fulfillment site near Edwardsville, northeast of St. Louis, causing “con-
firmed fatalities,” according to the local police department. Amazon’s CEO Andy Jassy tweeted the company is working with local officials and has been “closely monitoring the terrible situation.” Graves County, in the state’s far southwest, bordering Tennessee, was the hardest hit among about 19 countries to experience storm damage. Three storm-related deaths were confirmed in Tennessee, according to the state’s emergency management authorities. At least two people were reported dead in Arkansas, where Governor Asa Hutchinson said a tornado touched down in Mississippi County, north of Memphis, Tennessee. In St. Charles County in Missouri,
an 84-year-old woman was killed after a tornado ripped the family house off its foundation, the St. Louis PostDispatch reported. A flash flood warning is in place across southern Kentucky, where tornadoes also stuck earlier this week, the National Weather Service said. The south fork of the Little River in Hopkinsville, Kentucky rose more than 10 feet from just after midnight to 6:30 a.m. local time. Kentucky Senator Mitch McConnell released a statement that said he is, “praying for the lives lost and communities” impacted by the tornadoes and that he “will work with the entire Kentucky federal delegation to support” Beshear’s request for federal assistance. Bloomberg News
Australia adds Moderna Dole honored in Kansas: Tough but compassionate statesman as booster, cuts wait time T
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ustr alia added the Moderna Inc. Covid-19 vaccine to Pfizer Inc.’s as a recommended booster shot and reduced the waiting time, responding to concerns about the increased spread caused by the Omicron variant. Australia is cutting the standard waiting time for a booster shot to five months from six, following the first two doses. The approval came from the Australian Technical Advisory Group on Immunization, the health department said Sunday in a statement. ATAGI acted given the likelihood of ongoing transmission of both Omicron and Delta variants, the department said. “What this will do, is it will mean an extra 1.5 million people are now eli-
gible to immediately access the boosters,” Health Minister Greg Hunt said in Melbourne, after receiving a Moderna booster shot. “By the start of January, 4.1 million Australians will be eligible to have the booster. Australia’s most populous state, New South Wales, saw the pace of new cases decline for the first time in six days. The state said Sunday there were 485 new infections, versus 560 reported Saturday. There are 55 Omicron variant cases in New South Wales, after 10 were confirmed overnight, and more are expected as results of genomic testing are confirmed, the government said. Victoria state said it recorded 1,069 additional cases, down from 1,193. Bloomberg News
OPEKA, Kan. — Fellow Kansans on Saturday celebrated Bob Dole as a tough but compassionate patriot shaped by smalltown values, a strong partisan leader who could nevertheless work with political opponents, and a war hero who ultimately became “the greatest of the Greatest Generation.” Dole made his last journey to his prairie state for memorial services in his western Kansas hometown of Russell and at the Statehouse in Topeka. He was honored for the military service during World War II that left him severely wounded and the distinguished political career that followed his recovery. Elected officials and former elected officials from both parties said Dole embodied the state’s motto, “To the stars through diffi-
culties,” and never stopped trying to help others. “He did not hide in a time of crisis. He looked for solutions,” former US Rep. Jim Slattery, a Kansas Democrat, said during the Statehouse event. “I often told Bob he was the toughest man I ever knew, both physically and mentally, but he had a tender heart.” Dole died Sunday at the age of 98 after a lifetime of service that included nearly 36 years in Congress and running as the GOP nominee for president in 1996. US Senate Minority Leader Mitch McConnell, who served more than a decade with Dole in the Senate and later surpassed Dole as the longest-serving GOP leader there, attended both Kansas events as well. Saturday’s events began with a
public viewing of his casket and a memorial service at a Roman Catholic church in Russell, the small town some 240 miles (386 kilometers) west of Kansas City where he grew up during the Great Depression. Speakers for the state capital event Saturday afternoon noted that Dole’s career in elective office began in the Kansas House in the early 1950s. The dignitaries at both events included Democratic Gov. Laura Kelly, Kansas’ two Republican US senators, Roger Marshall and Jerry Moran, and former GOP US Sens. Pat Roberts and Nancy Kassebaum Baker. Kelly said in remarks in Dole’s hometown that Russell was “where his roots run deepest.” Dignitaries in dark, formal business attire mixed in the congregation with lo-
cal residents dressed in less formal farm and work clothes, a KWCH-TV livestream showed. “As we gather here today to come together to salute our state’s most favorite of favorite sons and the greatest of the Greatest Generation, we pause to reflect with immense gratitude on all that Bob Dole’s life meant to Kansas and to Kansans, to our nation and to the world,” Kelly said. Dole—known for a caustic wit that he sometimes turned on himself—also was honored Friday during a service at Washington National Cathedral. President Joe Biden was among the speakers there. Another tribute followed at the World War II Memorial in Washington—a monument to Dole’s generation that he worked to get built. AP
A8 Monday, December 13, 2021
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Editor: Jennifer A. Ng • Monday, December 13, 2021
PHL frozen pork inventory rises to 77,373 MT–NMIS
BusinessMirror file photo By Jasper Emmanuel Y. Arcalas @jearcalas
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HE country’s frozen pork inventory as of December 6 expanded to 77,373.74 metric tons (MT) as more imports arrived in the country, according to the latest data from the National Meat Inspection Service (NMIS). Latest NMIS data showed that frozen pork inventory in accredited cold storage facilities during the period grew by 3.13 percent from 75,024.91 MT recorded as of November 29. The increase in volume was driven by higher imported frozen stocks which rose to 75,822.08 MT from 73,418.39 MT in the previous week. Imported pork accounted for about 98 percent of the country’s frozen pork inventory. NMIS data indicated that the inventory of local pork declined slightly to 1,551.66 MT from 1,606.52 MT. Figures from the attached agency of the Department of Agriculture showed
that the nationwide frozen pork inventory registered an increase after declining for five weeks. On a monthly basis, the frozen pork inventory as of December 6 was 2.14 percent lower than the 79,029.38 MT recorded on November 8, based on NMIS data. Cold Chain Association of the Philippines (CCAP) President Anthony S. Dizon said this is due to an increase in demand. Dizon said, however, that the total frozen pork stocks remain elevated as more imports continue to arrive in the country. “The market pull for local pork is slower than imported since prices of locally-produced pork increased in recent weeks again,” he told the BusinessMirror in an interview. The DA’s latest report indicated that fresh pork kasim or pigue in Metro Manila was priced at P300 to P350 per kilogram while frozen pork kasim/pigue was sold for P195 to P230 per kg. Fresh pork liempo was priced at P330 per kg to as much as P390 per kg in some wet markets in the metro. The retail price of frozen pork liempo, meanwhile, ranged from P250 per kg to P280 per kg, according to the DA. NMIS data showed that the bulk of the frozen pork inventory was in the National Capital Region, which accounted for 25,952.16 MT, followed by Region 3 with 22,863.66 MT and Region 4-A with 21,896.03 MT.
‘Opening more RORO ports to boost income of farmers’ By Jovee Marie N. Dela Cruz
@joveemarie & Cai U. Ordinario @caiordinario
A
LEADER of the House of Representatives is proposing the creation of more roll-on, roll-off (RORO) ports in the country to boost farmers’ incomes and lower food transportation costs. An economist from the Asian Development Bank (ADB) said farmers will see an increase in their earnings if the country will be able to maximize the use of the RORO systems. In a statement over the weekend, House Committee on Ways and Means Chairman Joey Sarte Salceda said creating a “denser” interzonal nautical highway system or RORO ports between “food baskets and food markets” are crucial interventions as the country is bound to see “moderate inflation” over the near-term. “The new normal when it comes to prices, as the economy reopens, will probably be 4 to 5 percent food inflation. I can particularly see some medium-term supply constraints on corn, which would also then contribute to inflation in meat and poultry supply,” Salceda said. “Part of what’s wrong isn’t the volume of supply. The problem is also with distribution chains. Yellow corn, for example, is down just 3 percent year-on-year, but inflation is at 15 percent for corn. The distribution chains of yellow corn, particularly from Mindanao to the rest of the country, appear to be suffering from certain chokeholds.” The lawmaker said more RORO ports will bypass the country’s natural geographical challenge as an elongated area. “That means lower food prices and fewer opportunities for middlemen to farmers.” According to Salceda, there are only three landings for the Nautical Highway System in Mindanao. “That’s not dense enough. You probably need another one in Iligan and another one in the Zambasulta area,” said Salceda, adding, “Bicol is effectively an island.” He also noted that, “in terms of transport, functionally Bicol is an island, because of the vast emptiness between Calauag and Sipocot, so we need alternative points of entry to Bicol.” “One RORO port just before Bondoc Peninsula, along the Ragay Gulf, another one in Albay’s west coast, probably in Pantao, would effectively create an entirely new Quezon-Bicol nautical highway.” The lawmaker noted the importance of alternative routes, especially for food and cargo in Bicol, as the region was among
the regions with the highest inflation rates this year. “Along with Cagayan Valley, which itself is partly isolated, Bicol suffered some of the highest inflation rates this year.”
Trade costs
IN an Asian Development Blog, ADB Economic Research and Regional Cooperation Department Economics Officer Eugenia Co Go said the RORO will eliminate middlemen and will allow farmers to bring their products to the market. Go said RORO has already helped bring down trade costs to a peak of 180 percent from 240 percent at the time prior to the creation of the system in 2003. “A quarter of the Philippine labor force rely on farming as livelihood, and agricultural products account for over 20 percent of the total volume and value of domestic maritime trade in 2019,” she said. “From this perspective, the RORO transport program can be a powerful tool for spurring rural development.” Go said rigorous analyses showed control for factors that may affect prices in supplier and demand provinces. These include product seasonality and province characteristics which would translate to a difference between farm and retail prices that is on average 28 percent lower for provinces with short-distance RORO connections. A recent study showed that on average prices in the sample, farmer revenues can increase by 9 percent during these times of scarcity. However, the price increase is up to three times larger in producer provinces with RORO services, by an additional 10 to 19 percentage points. Meanwhile, the increases in retail prices by RORO connection are consistently lower than the farm price rise, in line with a squeezing of intermediary markups. “The use of RORO systems improves the welfareoffarmers.Farmersreceivehigherrevenueswithoutraisingconsumerprices.During episodes of typhoons, the higher passthrough of positive price shocks to farmers without the correspondingpriceincreaseinretailmarkets indicatesgreatercompetitionandlowermarkups for go-betweens,” she said. Earlier, Go said the RORO system is a transport system that integrates land highways with sea routes through RORO ships. Through the system, cargo vehicles can directly board RORO vessels with their cargoes and skip cargo handling. Go said cargo handling is one of the most expensive and time-consumingprocessesinmaritimetrade.
A10 Monday, December 13, 2021 • Editor: Angel R. Calso
Opinion BusinessMirror
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Nirvana economics
O
nce upon a time, plying the streets and highways of Metro Manila were two types of taxis: Aircon and Non-Aircon. The first provided protection against the city heat and dirt. The second provided a trip at about half the price of the Aircon taxi. Nirvāna is a term found in the texts of all major Indian religions— Hinduism, Jainism Buddhism, and Sikhism. Nirvana literally means “blowing out” like extinguishing a candle flame. It is the liberation from Dukkha—commonly translated as “suffering,” “unhappiness,” “pain,” “being unsatisfied” or “stress.” A state of Nirvāna releases one from Samsāra, the repeated cycle of birth, mundane existence and dying again. All Indian religions assert it to be a state of perfect quietude, freedom, highest happiness as well as the liberation from suffering and the ending of the vicious cycle of samsara. Taken out of the religious/philosophical arena, in modern usage nirvana is perfection even if it may be a goal hoped for but probably unattainable. Common sense might say that if a wonderful goal is not possible, wouldn’t it be a waste of time to go there? Further, by spending time to try to climb an “unclimbable” mountain, you miss out accomplishing smaller but realistic achievements. Perhaps also, focusing the majority of your efforts trying for an “impossible dream,” you might miss seeing the possible dreams, maybe multiple possible dreams. What if the “perfection” of nirvana is in fact not perfect at all? All Manila taxis are now AirCon. Consumers no longer have a choice between comfort and price. The old rule is that you can have a product or service at a less expensive price, at a higher quality, or delivered quickly. You can pick two, but you cannot have all three. Harold Demsetz was a professor of economics at UCLA who created in 1969 the term “Nirvana economics” when a perfect solution is the objective. He also called it the “Nirvana fallacy,” drawing from what French philosopher Voltaire wrote in 1772. “The perfect [or literally ‘better’] is the enemy of the good.” Aircon taxis are ‘better’ but maybe having both types available would be the “good” for consumers and the economy. Candidates always want to talk about being anti-corruption because like sacrificing virgins to the volcano god, no one will disagree. Some love to the use the term “eliminate” even as everyone knows that is impossible, except and unless a mandatory and immediate firing squad death penalty is imposed. And that will not happen. Candidates might occasionally talk about how the Philippines has higher-than-regional electricity costs. No one wants high electricity prices. But the “solution” is muddled. The safe answer is “renewable energy.” Everyone wants clean, inexpensive energy but hates talking about the difficulty of large-scale reliability. Just ask Germany. Yet mention nuclear power and many heads start exploding even if nuke is clean, reliable, and France derives about 70 percent of its electricity from nuclear energy since 1962. So, as to inexpensive electricity, we continue searching for Nirvana. However, at least some groups are honest and consistent in their search for “Nirvana.” One advocates for “No Nuclear Power,” “No Fossil Fuels,” “No Dams,” “No Logging,” and “No Reclamation.” The “Nirvana economics” is not about finding a choice among real world solutions. It is a choice between one realistic achievable possibility and another unrealistic solution that could in some way be “better.” The Nirvana economics fallacy is based on faulty reasoning, where an argument assumes that a solution should be rejected because some part of the problem still exists after the solution is applied. Many people falling prey to the Nirvana fallacy presume that a perfect solution does exist. It does not. Since 2005
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Toward a better tourism industry Atty. Jose Ferdinand M. Rojas II
RISING SUN
N
ow that the public is being allowed to travel around most parts of the country, the Department of Tourism (DOT) is stepping up its campaigns to make up for lost opportunities. Our gorgeous beaches are waiting, along with countless historical and cultural landmarks, not to mention the Philippines’s food experiences, which are as diverse as the various islands we have. Local and foreign travelers are sure to find a great variety of activities to do here—from diving and swimming to hiking, biking, engaging in watersports, and more. Historical landmarks, arts and cultural destinations, and nature spots offer specific thrills to satisfy the varied preferences of visitors. Our shopping and dining options are top attractions, too. But of course, traveling is fun only if it’s also safe, especially because we are still in a pandemic. The local government units and the
private sector, including the hotels, restaurants, and other destinations, are working together to make visits safe for guests. They all follow the government’s prescribed health standards and protocols to avoid the spread of disease. But we have to do our part by following the guidelines at all times. The travel and tourism sector, as we all know, is one of the worst hit industries by the pandemic. People lost their jobs, many companies closed down, and the industry as a whole suffered the greatest loss in
An important point to remember as the travel and tourism industry tries to recover is that we must not forget the lessons this crisis has taught us and is still teaching us. One such lesson has to do with environmental protection and sustainability. I hope businesses, the government, and the public will be more mindful this time and will not repeat the mistakes of the past. It is possible to enjoy nature while protecting it and not depleting our resources. recent history. We can help the businesses and workers in the travel sector by traveling and supporting their campaigns. A lot depends, too, on measures taken by the government to help the industry back to its feet. Stimulus packages and interventions such as subsidies, loans, tax holidays for hotels, restaurants and other related businesses will certainly be good for business. More lenient accommodation for travelers who are fully vaccinated will also benefit the strug-
gling industry. An important point to remember as the travel and tourism industry tries to recover is that we must not forget the lessons this crisis has taught us and is still teaching us. One such lesson has to do with environmental protection and sustainability. I hope businesses, the government, and the public will be more mindful this time and will not repeat the mistakes of the past. It is possible to enjoy nature while protecting it and not depleting our resources. The new travel and tourism industry that will emerge from the Covid-19 crisis has to be a sustainable and equitable one. Environmental responsibility needs to be at the core of programs and campaigns moving forward. As tourists, we have a big role to play, one of which is to encourage service providers to change their unsustainable products and services. We must also turn our backs on environmental abuse and congestion. All stakeholders must realize that we have to cooperate with each other for sustainability because it will eventually work to everyone’s advantage.
San Francisco’s vaunted tolerance dims amid brazen crimes
By Olga R. Rodriguez & Janie Har | Associated Press
S
AN FRANCISCO—Caitlin Foster fell in love with San Francisco’s people and beauty and moved to the city a dozen years ago. But after repeatedly clearing away used needles, other drug paraphernalia and human feces outside the bar she manages, and too many encounters with armed people in crisis, her affection for the city has soured. “It was a goal to live here, but now I’m here and I’m like, ‘Where am I going to move to now?’ I’m over it,’” said Foster, who manages Noir Lounge in the trendy Hayes Valley neighborhood. A series of headline-grabbing crime stories—mobs of people smashing windows and grabbing luxury purses in the downtown Union Square shopping district and daytime shootings in the touristy Haight-Ashbury—has only exacerbated a general feeling of vulnerability. Residents wake up to news of attacks on Asian American seniors, burglarized restaurants, and boarded-up storefronts in the city’s once-vibrant downtown. San Franciscans take pride in their liberal political bent and generously approve tax measures for schools and the homeless. They accept that trashy streets, tent encampments and petty crime are the price to pay to live in an urban wonderland. But the frustration felt by Foster, who moved from Seattle in search of more sunshine, is growing among residents who now see a city in decline. There are signs that the city famous
for its tolerance is losing patience. The pandemic emptied parts of San Francisco and highlighted some of its drawbacks: human and dog feces smeared across sidewalks, home and vehicle break-ins, overflowing trash cans, and a laissez-faire approach by officials to brazen drug dealing. Parents despaired as public schools stayed closed for most of last year as nearby districts welcomed children back to the classroom. Meanwhile, residents and visitors scurry past scenes of lawlessness and squalor. Just steps from the Opera House and Symphony Hall, drug dealers carry translucent bags filled with crystal-like rocks or stand outside the public library’s main branch, flashing wads of cash while peddling heroin and methamphetamine. “There’s a widespread sense that things are on the wrong track in San Francisco,” said Patrick Wolff, 53, a retired professional chess player from the Boston area who has lived in the city since 2005. In a sign of civic frustration, San Franciscans will vote in June on whether to recall District Attorney Chesa Boudin, a former public de-
fender elected in 2019 whose critics say he’s too lenient on crime. His supporters say there’s no crime surge, and that corporate wage theft is a more pressing issue than cases like that of a San Francisco woman finally arrested after stealing more than $40,000 in goods from a Target over 120 visits. She was released by a judge and arrested again on suspicion of shoplifting after she failed to show up to get her court-ordered ankle monitor. “Where’s the progress? If you say you’re progressive, let’s get the homeless off the street, and let’s get them mental health care,” said Brian Cassanego, a San Francisco native who owns the lounge where Foster works. He moved to wine country five months ago, tired of seeing dealers sell drugs with impunity and worrying about his wife being alone outside at night. The day before he moved, Cassanego stepped out to walk his dogs and saw a man who “looked like a zombie,” with his pants down to his knees and bleeding from where a syringe was stuck on his hip. A woman cried out nearby in shock. “I went upstairs, and I told my wife, ‘We’re leaving now! This city is done!’” he said. Reports of larceny theft—shoplifting from a person or business— are up nearly 17% to more than 28,000 from the same time last year. Requests to clean dirty streets and sidewalks are the majority of calls to 311, the city’s services line. Overall, though, crime has been
trending down for years. More than 45,000 incidents have been reported so far this year, up from last year when most people were shut indoors, but below the roughly 60,000 complaints in previous years. San Francisco’s well-publicized problems have served as fodder for conservative media outlets. Former President Donald Trump jumped in again recently, releasing a statement saying the National Guard should be sent to San Francisco to deter smashand-grab robberies. Elected officials say they’re grappling with deep societal pains common to any large US city. A high percentage of an estimated 8,000 homeless people in San Francisco are struggling with chronic addiction or severe mental illness, usually both. Some people rant in the streets, nude and in need of medical help. Last year, 712 people died of drug overdoses, compared with 257 people who died of Covid-19. LeAnn Corpus, an administrative assistant who enjoys figure skating, avoids the downtown rinks and won’t take her 8-year-old son there after dark because of all the open drug use. Still, the city’s urban ills have crept into her Portola neighborhood far from downtown. A homeless man set up a makeshift tent outside her home using a bike and a bed sheet, and relieved himself on the sidewalk. She called the police, who came after two hours and cleared him out, but at her aunt’s See “San Francisco,” A11
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Life insurance as a Christmas gift?
Was tornado outbreak related to climate change? By Suman Naishadham And Seth Borenstein Associated Press
By Reynaldo A. de Dios
T
he Christmas season in the Philippines is probably celebrated with much more gusto than in any other country. It begins in the early morning of December 16 with a Mass at 5 a.m., which is called Misa de Gallo, and the celebration continues until the Feast of the Three Kings, which used to fall on January 6 but was changed to the first Sunday of the New Year. During this festive season, the head of the family usually worries about the gifts for immediate members of his family as well as close relatives and godchildren, as he wishes to make them happy. Nevertheless, during Christmas, the giver actually receives more pleasure than the receiver. At this time of the year, the family head also realizes his important role in ensuring the welfare of his loved ones especially if he is the principal earner. The more should he then appreciate the value of life insurance in case something unexpected happens to him and he is no longer around, especially at Christmas time. The premiums that he spends to keep his policy in force represent unselfishness as he sets aside a part of his income to ensure a safer tomorrow for his family. Thus, life insurance has a special meaning of love and concern. There are a number of ways where life insurance can be used to add more meaning to Christmas. Life insurance is the answer for a father who wants to make certain that his family can always afford to celebrate Christmas. The proceeds of a life insurance policy can be so arranged that a certain percentage may be given to the widow every year around Christmas time so that the father continues to be a part of his family’s celebration even though he may no longer be around. Another noble way to celebrate Christmas is to purchase a policy designating specified charitable institutions as beneficiaries in case of one’s demise.
San Francisco. . . continued from A10
home, a homeless person camped out against the backyard for six months despite attempts to get authorities to remove him. “This city just doesn’t feel the same anymore,” said Corpus, a thirdgeneration native. San Francisco residents who are generally uncomfortable with government surveillance have installed security cameras and deadbolts to prevent break-ins, and they have started eyeing outsiders with suspicion. The other night, Joya Pramanik’s husband spotted someone wearing a ski mask on what was an otherwise warm evening on their quiet street. She worried the masked man was up to no good—and it pains her to say that, since what she loves about San Francisco is its easy embrace of all types of characters. Pramanik, a project manager who moved to the US from India in her teens, cheered Trump’s failed reelection bid but says she realized too late that Democratic activists have hijacked her city. “If I say I want laws enforced, I’m racist,” she said. “I’m like, ‘No, I’m not racist. There’s a reason I live in San Francisco.’” Last year, Wolff, the retired chess player, helped launch a new political organization that aims to elect local officials focused on solving pressing problems. Families for San Francisco will elect Democrats, but it’s organized outside the city’s powerful Democratic Party establishment, he said. Wolff hopes to change a civic mindset that no longer expects much in the way of basic public services. In hip Hayes Valley, for example, business owners tired of seeing garbage strewn about and the city not doing anything to address the issue banded together to lease enclosed trash cans from a private company, said Jennifer Laska, president of the neighborhood association.
Monday, December 13, 2021 A11
Still another gift suggestion for ninongs and ninangs, uncles and aunts, as well as grandparents is to purchase insurance on a child’s life. This is a gift that grows. In the years to come, the insurance proceeds can help finance the child’s college education or may be used to get the young person started in business. It can also become the basis of a personal life insurance program when the child reaches adulthood. Another gift suggestion is for the ninong or ninang to purchase insurance on a godchild’s life and assume the annual premium payments. This gift can help finance a college education in the future. And now, a word on the professional life insurance agent or broker whose job is to spread the gospel of life insurance. Theirs is not an easy job for they have to encourage people to act for the future by setting aside premium payments to protect their dependents. Too often, the agent or broker is misunderstood and the resistance they meet in their calls on prospects can be enough to break their will. But they keep on plodding and eventually make a sale. But the true value of their sale is that it is an expression of love on the part of the policyholder who will only appreciate the wisdom of his purchase when, in the later years, he will not be able to buy additional insurance even if he wants to, either because of declining health or the increased cost due to advancing age. The author is a risk management consultant and Editor of Insurance Philippines magazine.
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ASHINGTON—The calendar said December but the warm moist air screamed of springtime. Add an eastbound storm front guided by a La Niña weather pattern into that mismatch and it spawned tornadoes that killed dozens over five US states. Tornadoes in December are unusual, but not unheard of. But the ferocity and path length of Friday night’s tornadoes likely put them in a category of their own, meteorologists say. One of the twisters—if it is confirmed to have been just one—likely broke a nearly 100-yearold record for how long a tornado stayed on the ground in a path of destruction, experts said. “One word: remarkable; unbelievable would be another,” said Northern Illinois University meteorology professor Victor Gensini. “It was really a late spring type of setup in the middle of December.” Warm weather was a crucial ingredient in this tornado outbreak, but whether climate change is a factor is not quite as clear, meteorologists say. Scientists say figuring out how climate change is affecting the frequency of tornadoes is complicated and their understanding is still evolving. But they do say the atmospheric conditions that give rise to such outbreaks are intensifying in the winter as the planet warms. And tornado alley is shifting farther east away from the Kansas-Oklahoma area and into states where Friday’s killers hit. Here’s a look at what’s known about Friday’s tornado outbreak and the role of climate change in such weather events.
What causes a tornado?
Tornadoes are whirling, vertical air columns that form from thunderstorms and stretch to the ground. They travel with ferocious speed and lay waste to everything in their path. Thunderstorms occur when
denser, drier cold air is pushed over warmer, humid air, conditions scientists call atmospheric instability. As that happens, an updraft is created when the warm air rises. When winds vary in speed or direction at different altitudes—a condition known as wind shear—the updraft will start to spin. These changes in winds produce the spin necessary for a tornado. For especially strong tornadoes, changes are needed in both the wind’s speed and direction. “When considerable variation in wind is found over the lowest few
What conditions led to storms of this scale?
A few factors, which meteorologists will continue to study. Spring-like temperatures across much of the Midwest and South in December helped bring the warm, moist air that helped form thunderstorms. Some of this is due to La Niña, which generally brings warmer than normal winter temperatures to the Southern US. But scientists also expect a typical, warm weather in the winter to become more common as the planet warms. “The worst-case scenario happened. Warm air in the cold season, middle of the night,” said John Gordon, a National Weather Service meteorologist in Louisville, Kentucky. Once the storm formed, exceptionally strong wind shear appears to have prevented the tornadoes from dissipating, experts say. Tornadoes are thought to die off when thunderstorm updrafts lose energy.
Attributing a specific storm like Friday’s to the effects of climate change remains very challenging. Less than 10% of severe thunderstorms produce tornadoes, which makes drawing conclusions about climate change and the processes leading up to them tricky, said Harold Brooks, a tornado scientist at the National Severe Storms Laboratory. Scientists have observed changes taking place to the basic ingredients of a thunderstorm, however, as the planet warms. thousand feet of the atmosphere, tornado-producing ‘supercell thunderstorms’ are possible,” said Paul Markowski, professor of meteorology at Pennsylvania State University. “That’s what we had yesterday.” There’s usually a lot of wind shear in the winter because of the big difference in temperature and air pressure between the equator and the Arctic, Gensini said. But usually, there’s not a lot of instability in the winter that’s needed for tornadoes because the air isn’t as warm and humid, Gensini said. This time there was.
Tornadoes typically lose energy in a matter of minutes, but in this case it was hours, Gensini said. That’s partly the reason for the exceptionally long path of Friday’s storm, going more than 200 miles (322 kilometers) or so, he said. The record was 219 miles (352 kilometers) and was set by a tornado that struck four states in 1925. Gensini thinks this one will surpass it once meteorologists finish analyzing it. “In order to get a really long path length, you have to have a really fast moving storm. This storm was moving well over 50 miles [80
kilometers] per hour for a majority of its life,” Gensini said. That’s not the speed of the winds, but of the overall storm movement. “You’re talking about highwayspeed storm motions,” Gensini said.
How related is climate change to tornado outbreaks?
It’s complicated. Scientists are still trying to sort out the many conflicting factors about whether humancaused climate change is making tornadoes more common—or even more intense. About 1,200 twisters hit the US each year—though that figure can vary—according to the NOAA National Severe Storms Laboratory. No other country sees as many. Attributing a specific storm like Friday’s to the effects of climate change remains very challenging. Less than 10% of severe thunderstorms produce tornadoes, which makes drawing conclusions about climate change and the processes leading up to them tricky, said Harold Brooks, a tornado scientist at the National Severe Storms Laboratory. Scientists have observed changes taking place to the basic ingredients of a thunderstorm, however, as the planet warms. Gensini says in the aggregate, extreme storms are “becoming more common because we have a lot warmer air masses in the cool season that can support these types of severe weather outbreaks.” The US is likely to see more tornadoes occur in the winter, Brooks said, as national temperatures rise above the long-term average. Fewer events will take place in the summer, he said. Furtado of the University of Oklahoma said tornado alley, a term used to describe where many twisters hit the US, has shifted eastward into the Mississippi River Valley. That shift is because of increases in temperature, moisture and shear. “Bottom line: The people in the Mississippi River Valley and Ohio River Valley are becoming increasingly vulnerable to more tornadic activity with time,” he said.
Watchdog: Federal anti-terror unit investigated journalists
By Mark Sherman | Associated Press
W
ASHINGTON—A special Customs and Border Protection unit used sensitive government databases intended to track terrorists to investigate as many as 20 US-based journalists, including a Pulitzer Prize-winning Associated Press reporter, according to a federal watchdog. Yahoo News, which published an extensive report on the investigation, also found that the unit, the Counter Network Division, queried records of congressional staffers and perhaps members of Congress. Jeffrey Rambo, an agent who acknowledged running checks on journalists in 2017, told federal investigators the practice is routine. “When a name comes across your desk you run it through every system you have access too, that’s just status quo, that’s what everyone does,” Rambo was quoted by Yahoo News as saying. The AP obtained a redacted copy of a more than 500-page report by the Homeland Security Department’s inspector general that included the same statement, but with the speaker’s name blacked out. The border protection agency is part of Homeland Security. The revelations raised alarm in news organizations and prompted a demand for a full explanation. “We are deeply concerned about this apparent abuse of power,” Lauren Easton, AP’s director of media relations, said in a statement. “This appears to be an example of journalists being targeted for simply doing their jobs, which is a violation of the First Amendment.” In its own statement, Customs and Border Protection did not specifically address the investigation, but said, “CBP vetting and investigatory operations, including those conducted by the Counter Network Division, are strictly governed by
well-established protocols and best practices. CBP does not investigate individuals without a legitimate and legal basis to do so.” An employee at Storymakers Coffee Roasters, a small storefront shop Rambo owns in San Diego’s Barrio Logan neighborhood, said Saturday that Rambo was not immediately available to comment. He lives in San Diego. The new disclosures are just the latest examples of federal agencies using their power to examine the contacts of journalists and others. Earlier this year Attorney General Merrick Garland formally prohibited prosecutors from seizing the records of journalists in leak investigations, with limited exceptions, reversing years of department policy. That action came after an outcry over revelations that the Trump Justice Department had obtained records belonging to journalists, as well as Democratic members of Congress and their aides and a former White House counsel, Don McGahn. During the Obama administration, federal investigators secretly seized phone records for some reporters and editors at the AP. Those seizures involved office and home lines as well as cellphones. Rambo’s and the unit’s use of the databases was more extensive than previously known. The inspector general referred possible criminal charges for misusing government databases and lying to investigators, but the Justice Department declined to prosecute Rambo and
The revelations raised alarm in news organizations and prompted a demand for a full explanation. “We are deeply concerned about this apparent abuse of power,” Lauren Easton, AP’s director of media relations, said in a statement. “This appears to be an example of journalists being targeted for simply doing their jobs, which is a violation of the First Amendment.”
two other Homeland Security employees. Rambo complained to Yahoo News that Customs and Border Protection has not stood by him and that he has been unfairly portrayed in news reports. “What none of these articles identify me as, is a law enforcement officer who was cleared of wrongdoing, who actually had a true purpose to be doing what I was doing,” he said, “and CBP refuses to acknowledge that, refuses to admit that, refuses to make that wrong right.” Rambo had previously been identified as the agent who accessed the travel records of reporter Ali Watkins, then working for Politico, and questioned her about confidential sources. Watkins now writes for The New York Times. Rambo was assigned to the border agency unit, part of the National Targeting Center in Sterling, Virginia, in 2017. He told investigators he initially approached Watkins as part of a broader effort to get reporters to write about forced labor around the world as a national security issue. He also described similar efforts
with AP reporter Martha Mendoza, according to an unredacted summary obtained by Yahoo News. Rambo’s unit “was able to vet MENDOZA as a reputable reporter,” the summary said, before trying to establish a relationship with her because of her expertise in writing about forced labor. Mendoza won her second Pulitzer Prize in 2016 as part of a team that reported on slave labor in the fishing industry in Southeast Asia. Dan White, Rambo’s supervisor in Washington, told investigators that his unit ran Mendoza through multiple databases, and “CBP discovered that one of the phone numbers on Mendoza’s phone was connected with a terrorist,” Yahoo News reported. White’s case also was referred for prosecution and declined. In response, AP’s Easton said, “The Associated Press demands an immediate explanation from US Customs and Border Protection as to why journalists including AP investigative reporter Martha Mendoza were run through databases used to track terrorists and identified as potential confidential informant recruits.” It was Rambo’s outreach to Watkins that led to the inspector general’s investigation. While he ostensibly sought her out to further his work on forced labor, Rambo quickly turned the focus to a leak investigation. Rambo even gave it a name, “Operation Whistle Pig,” for the brand of whiskey he drank when he met Watkins at a Washington, D.C. bar in June 2017. The only person charged and convicted stemming from Rambo’s efforts is James Wolfe, a former security director for the Senate Intelligence Committee who had a personal relationship with Watkins. Wolfe pleaded guilty to lying to the FBI about his contacts with
reporters. In the course of conversations with FBI agents, Rambo was questioned extensively about his interest in Watkins. He used the travel records to confront her about her relationship with Wolfe, asserting that Wolfe was her source for stories. Watkins acknowledged the relationship, but insisted Wolfe did not provide information for her stories. Rambo said Watkins was not the only reporter whose records he researched through government databases, though he maintained in his interviews with the FBI that he was looking only at whether Wolfe was providing classified information. Rambo said he “conducted CBP record checks” on “15 to 20 national security reporters,” according to a FBI summary of the questioning that was contained in the inspector general’s report. New York Times spokeswoman Danielle Rhoades-Ha said new details about the investigation of Watkins raised fresh concerns. “We are deeply troubled to learn how US Customs and Border Protection ran this investigation into a journalist’s sources. As the attorney general has said clearly, the government needs to stop using leak investigations as an excuse to interfere with journalism. It is time for Customs and Border Protection to make public a full record of what happened in this investigation so this sort of improper conduct is not repeated.” Watkins said she, too, was “deeply troubled at the lengths CBP and DHS personnel apparently went to try and identify journalistic sources and dig into my personal life. It was chilling then, and it remains chilling now.” Associated Press writer Elliot Spagat in San Diego contributed to this report.
A12 Monday, December 13, 2021
EX-COMELEC CHIEF WEIGHS IN ON BBM DQ CASE, PARTY-LIST By Samuel P. Medenilla @sam_medenilla
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HE former chairman of the Commission on Elections (Comelec) urged the poll body to act immediately on questions of qualifications related to presidential aspirant Ferdinand “Bongbong” R. Marcos Jr. and candidates for party-list representation. “The presidency is the most important elected position in the country and it is not a popularity contest. There must be basic qualifications,” Monsod said regarding pending cases questioning the qualification of Marcos. On the other hand, he said during an online forum that qualifications must also be stricter if party-list groups would be allowed to have as many representatives in Congress as possible. The latter is his proposal; Monsod said such would make these groups more responsive to the needs of the marginalized sector they represent. The former Comelec chairman is urging the swift resolution of the cases against Marcos to clear possible concerns in the outcome of the 2022 polls. Monsod said last Sunday it is
crucial for the case to be resolved before the actual elections would result in an even more complicated quo warranto case in the House of Representatives if Marcos does win in the next elections. “So it is important that the Comelec act on this in a proper way and not to unduly delay the process. And that goes with the Supreme Court as well,” Monsod said.
Slew of cases
MONSOD expressed hope that the Comelec will be able to meet its target of addressing the matter this month or early next year after the poll body already distributed the pending cases against Marcos to its two divisions. “Maybe they are now trying to do it [resolution of cases] earlier,” Monsod said. Monsod is the legal counsel of members of the Pudno Nga Ilokano, which filed a petition before the Comelec last week to disqualify Marcos from the next presidential race. The group based its case on Marcos’s court conviction for violating the National Internal Revenue Code; thus, “losing his right to vote as well as run for public office.”
See “Ex-Comelec,” A2
Locsin: PHL ‘drops ball’ on possible syringe deal By Malou Talosig-Bartolome & Claudeth Mocon-Ciriaco Correspondent
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OREIGN Affairs Secretary Teodoro Locsin Jr. said the Philippine government “dropped the ball again” on procuring Covid-19 supplies as it missed an opportunity to procure syringes for mRNA vaccines from a United States-based pharmaceutical giant. “We dropped the ball again; this time offer of 50 million syringes,” Locsin said in a tweet. The Department of Foreign Affairs has been assisting in the procurement of vaccines from other countries from the World Health Organization-led COVAX facility, or from other governments or businesses in the Covid-19 vaccine supply chain. Locsin said the Philippine Embassy in Washington DC has spoken with Pfizer Inc. which offered to sell their syringe for 7 US cents (P3.50) each. At 50 million pieces, the deal would have cost Manila $3.5 million (P175 million). “Discussed the need in Washington DC and got a response. Prepared to go into details with PH agencies but they refused to discuss the ball let alone catch it,” Locsin said. The country’s top diplomat didn’t identify the agency or government officials who refuse to negotiate a deal with Pfizer. “First, Pfizer, then Moderna. Ok, I see the pattern,” he said. Last year, Locsin said a government official “dropped the ball” on negotiations for the procurement of vaccines from Pfizer. Because of the bureaucratic buck-passing, Locsin said the supply intended for the Philippines was taken by other countries which have been desperately seeking for Pfizer vaccines. The Philippines obtained Pfizer vaccines via the Covax facility in May. In a subsequent tweet, Locsin said the Department of Health (DOH) is looking for a supplier that can provide syringes costing 4.7 cents (P2.37) each. At 50 million pieces, the DOH would pay P118.50 million. “Far as I’m concerned it’s finished; but if you want a fight, Ph DOH’s offer of 4.7 cents a syringe is hallucinatory; no one on the planet makes special PFIZER LOW DEAD VOLUME SYRINGES that cheap; 7 cents is the absolute lowest. UNICEF pays double. Make all purchases public,” he said.
Assurances
THE DOH and the National Task Force
(NTF) Against Covid-19 on Sunday assured that it is will ensure enough supplies of 0.3 ml syringes that are compatible with Pfizer Covid-19 vaccines, and 0.5ml auto-disable (AD) syringes for all other vaccines. “We are continuously ensuring enough supplies of syringes for our Covid-19 vaccination program - noting that 0.3ml syringes are different from 0.5ml syringes, and as such would have varying prices,” said Atty. Charade Mercado-Grande, Undersecretary of the Health Regulation Team. Grande said that they are assuring the public that the DOH is continuously ensuring a “sufficient stockpile of syringes and that processes to obtain these are consistent with the provisions of Republic Act 9184 or the Government Procurement Act.” The DOH and NTF clarified that two batches of procurement through Unicef were undertaken-the first batch, funded through the savings from calendar year 2020 Unicef procurement, included 8 million 0.3ml syringes worth P29.1 million which were completely delivered last October. T he second batch, financed through the Asian Development Bank, consisted of 44 million syringes amounting to about P152.6 million. Four million will be delivered this month while the remaining 40 million will arrive in the first quarter of 2022 due to the global supply shortage. As of Sunday, 3,653,000 syringes out of the 4 million have already been delivered and the rest is expected this week. The first and second batches of procurement through Unicef amounts to 52 million of 0.3 ml syringes at P3.25 per piece or USD6.5 cents which includes the cost for logistics. “Even with the delays in delivery of microsyringes, we made sure that we can still administer the Pfizer vaccines that we procured by using tuberculin syringes. The government together with local government units and the private sector is working hard to increase our vaccine coverage to protect more Filipinos against Covid-19. Through our bayanihan, we achieved 2.82 million jabs in one day,” said Secretary Vivencio Dizon, Presidential Adviser on Covid-19 Response. The DOH also procured 100 million pieces of 0.5ml AD syringes last April for P 2.38 apiece, lower than the initial approved budget of P2.50 apiece. The DOH and the NTF said the P2.38 price was used as basis for the ongoing emergency procurement of another batch of 50 million pieces of 0.5ml AD syringes.
CAB keeps mum on PHL, Dubai row on arrivals cap By Ma. Stella F. Arnaldo
@akosistellaBM Special to the BusinessMirror
T
HE CIVIL Aeronautics Board (CAB) has chosen to keep mum on the Philippines’s ongoing dispute with Dubai, which continues to block the loading of more passengers on direct commercial flights to Manila. Despite several text and Viber messages, CAB Executive Director Carmelo Arcilla failed to respond to questions regarding the row between Manila and Dubai over the arrivals cap currently in place at the Ninoy Aquino International Airport (Naia). CAB, an attached agency of the Department of Transportation, regulates the operations of the aviation sector and tasked to negotiate air agreements with its counterparts in other countries. A CAB source told the BusinessMirror, “C AB has already written DCAA [Dubai Civil Aviation Authority, its counterpart] to complain,” about Dubai’s limit on the number of passengers that it allows to board flights directly to Manila. Aviation sources said the limit, currently at 70 per flight, is
also imposed on Dubai air carriers, not just on Philippine carriers. The source could not say if DCAA had already responded to the CAB’s letter, however. The source added, CAB did not want their letter to DCAA publicized “as it could escalate the tensions with UAE and DCAA,” confirming that the resolution of the dispute is not yet in sight.
Carriers’ rerouting continues
FLAG carriers Philippine Airlines and Cebu Pacific have continued to reroute their commercial flights from Dubai to Manila using regional hubs in the country, due to Dubai’s cap. PAL announced seven flights a week from Dubai International Airport this December, landing in Subic Bay International Airport (ev-
ery Thursday and Friday), Mactan International (every Sunday), and Davao International (every Tuesday), “in compliance with government restrictions.” PAL spokesperson Cielo Villaluna said flights landing in Subic Bay International are transferred via land to Manila courtesy of the Overseas Workers Welfare Administration, but for those who are not overseas Filipino workers (OFWs), “PAL assists [in the transfer].” Cebu Pacific, on the other hand, is flying passengers five times weekly this December from Dubai landing in Mactan International (every Monday, Thursday, Saturday); and Davao International (every Wednesday). “These are commercial flights and foreign nationals are allowed,” said Carmina Reyes-Romero, CEB’s Director for Corporate Communications. The carrier also has Bayanihan flights on December 9, 11, 13, 16, 18, 23, 25, 27, and 30, she said, which are allowed to fly direct to Manila. Bayanihan flights mainly carry OFWs. At the start of the Covid-19 pandemic, government put a cap of 2,000 arrivals per day at the Naia, which irked Middle Eastern countries like Saudi Arabia and Dubai whose carriers fly commercial routes to Manila. Despite Manila increasing the daily arrivals to 4,000, Dubai authorities continue
to put obstacles in the flights to Manila. An Airbus 330-300, used by PAL and CEB, can typically carry around 400 passengers per flight. Using regional hubs, both carriers can load more than 70 passengers per flight, beyond the cap imposed by Dubai on direct flights to Manila. The regional hubs function as layovers from which the passengers are then flown to Manila, which is counted as a domestic flight.
DOT video awarded
MEANWHILE, the Department of Tourism said the Philippines was hailed one of the Exceptional Stories of Sustainable Tourism in the 2021 Tourism Video Competition of the United Nations World Tourism Organization (UNWTO) for the agency’s “Have A Safe Trip, Pinas” campaign. “We are proud that the video produced by the Department made it to this prestigious competition. More importantly, we were able to show how tourism provides jobs and livelihoods while conveying our message of traveling safely,” said Tourism Secretary Bernadette Romulo Puyat in a news statement over the weekend. The competition was launched by the UNWTO ahead of its 24th General Assembly, and was designed to recognize the best visual storytellers from every global region. (Watch the video on https:// bit.ly/3GyCuCY)
MEGA CARAVAN Presidential aspirant Ferdinand "Bongbong" Marcos Jr. and his running mate Mayor Sara Duterte-Carpio lead supporters in a parade around Metro Manila and Quezon City which started from PITX in Parañaque City with its theme “Salubungan Sa Kapaskuhan” on Sunday, December12, 2021.
ROY DOMINGO
‘Online scams deter financial inclusion’ By Jovee Marie N. dela Cruz @joveemarie
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HE chairman of the House Committee on Ways and Means on Sunday called for a congressional inquiry to assess the level of retail client protection among banks in the country. Albay Rep. Joey Sarte Salceda said he is filing a resolution calling on the Committee of Banks and Financial Intermediaries to look into the reports that some clients of BDO have lost money due to online banking scam.
“I am also filing a resolution calling on the Committee of Banks and Financial Intermediaries to assess the [incident], and one with the Committee on Public Accounts to see how prepared our cybercrime prevention units are in implementing the anti-fraud provisions of the cybercrime law,” he said. Salceda called this incident “a major challenge to financial inclusion,” as citizens who get scammed may be discouraged from availing of financial services. He also called this a threat to the confidence of consumers--Fil-
ipinos and foreigners alike--in the security of the country’s financial system. “Of course, scams are everywhere and in every country, but our own laws have very little to say directly about these financial scams,” Salceda said. “You look at the releases of banks about such scams, and you see that they place the onus of protecting money on their own users. They banked with you for a reason. They could have just hid their money under the mattress. You charge fees to protect their money, and they’re
not cheap fees compared to that of other countries. The least you could do is beef up your security measures,” he added. According to the lawmaker, “the service fees charged by the bank in question, BDO, accounted for around 14 percent of their total income as of their latest quarterly report. That’s one of the highest among major banks. You would expect them to deliver better on the service security front, especially since that’s what their consumers pay for.” See “Online scams,” A2
Companies BusinessMirror
Editor: Jennifer A. Ng
Monday, December 13, 2021
B1
Pilipinas Shell to pay ₧3.49B in taxes for alkylate imports By Lenie Lectura
P
@llectura
ilipinas Shell Petroleum Corp. said Sunday it would pay the Bureau of Customs (BOC) P3.49 billion worth of taxes covering its importation of alkylate. The oil firm said the payment would be made under protest and that the BOC recognized its intent to pay. “Taking into consideration the current economic challenges of the country as well as ensuring continued operations, uninterrupted imported fuel supply and welfare of our motoring public and consumers,
Pilipinas Shell will remit a total of P3.49 billion, under protest, representing alleged excise taxes and VAT on fuel blending components used in our refinery for years 2014-2020 to the BOC,” Pilipinas Shell said. “Its intent to pay allows the oil company to continue to provide to its customers and to the general public who rely on our products and mindful
of the thousands of Filipinos whose livelihood depends on our ability to maintain our operations.” The payment is pursuant to the demand letter of the Port of Batangas in view of the dissolution by the Supreme Court (SC) of the Temporary Restraining Order (TRO) previously issued. The case was remanded to the Court of Tax Appeals (CTA). In July, the SC lifted the TRO that barred the government from imposing taxes on the importation of the gasoline blending stock. The case originated from a CTA case wherein the oil firm questioned the validity of documents from the BOC’s Port of Batangas collector compelling it to pay P1.99 billion in “deficiency excise taxes, inclusive of interest and penalties, for its alkylate importations between January 2010 to June 2012.”
The SC ruled that alkylate, a product of distillation, is subject to excise tax under Section 148 of the National Internal Revenue Code as amended. Pilipinas Shell maintained that “the case on whether alkylate is subject to excise tax is yet to be decided by the courts.” At end-September this year, Pilipinas Shell reported a net income of P3.4 billion, a reversal of the P13.9billion loss posted in the same period last year. Its P2.2-billion capital expenditure program is on-track, approximately 68 percent of which is spent on network expansion. It was able to put up 25 new mobility sites from January to September this year. The rest was used for supply chain maintenance and upgrades, in preparation for demand resurgence.
SEC approves AREIT bond offer By VG Cabuag @villygc
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he Securities and Exchange Commission (SEC) has given the green light to the debt public offerings of AREIT Inc., the real estate investment trust (REIT) of Ayala Land Inc., and property developer Cityland Inc. In its en banc meeting, the agency approved AREIT’s P15-billion debt securities shelf registration program and Cityland’s offering of P500 million worth of commercial papers. AREIT may issue the bonds in one or more tranches within a period of three years. The first tranche will comprise up to P3 billion of fixed-rate bonds due 2023. AREIT expects to net up to P2.95
billion from the first tranche, proceeds of which will be used to refinance debt and to partially finance the acquisition of The 30th, a mixeduse commercial development in Pasig. The bonds, which will be offered at face value, will be listed and traded on the Philippine Dealing and Exchange Corp. (PDEX) The offer will run from December 13 to 16, in time for the bonds’ listing at the PDEx on December 23, according to the latest timetable submitted to the SEC. AREIT engaged BPI Capital Corp. and BDO Capital and Investment Corp. as the joint lead underwriters and bookrunners for the transaction. Cityland, meanwhile, will offer to the public P500 million worth of commercial papers. The listed real estate company expects to net up
to P495.68 million, which it use for project-related costs, payment of maturing loans or notes, and interest expense. Among others, the proceeds from the offering will be used to partially finance the construction of One Premiere, a 27-storey commercial and residential condominium in Las Pinas. AREIT’s income fell 68 percent during January to September this year to P1.79 billion from last year’s P5.54 billion. Revenues for the period reached P2.11 billion, 46 percent higher than last year’s P1.44 billion, as stable rental escalations and the contribution of the new properties, such as The 30th, Teleperformance Cebu and land parcels in Laguna Technopark boosted revenues. AREIT said it had an average occupancy of 99 percent
Cebu Pacific offers special ₧25 seat sale
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he Philippines’s leading airline, Cebu Pacific (CEB), is capping off its 25th year with a special 12.12 seat sale to further encourage Filipinos to travel and boost domestic tourism well into 2022. With the continuous easing of travel protocols and border restrictions, passengers who are looking to travel for more smiles ahead can avail a special seat sale rate of P25 one-way base fare to over 56 domestic routes when booking their tickets from December 12 to 14. Travel period runs from July 1 to November 30, 2022. Beach bums can once again relive and bask in the sunny shores of Bohol, Boracay, Camiguin, Cebu, Coron, Puerto Princesa, and Siargao; while foodies can take a culinary excursion to national food capitals such as Bacolod, Clark, Iloilo, and Manila. Thrill-seekers can get their fill of adventure, be it for hiking or water sports in Cagayan de Oro and Davao—all for a base fare of PHP25 per way. Passengers may use their existing travel funds to purchase new tickets, or pay via CEB’s newest e-wallet payment options (GrabPay, GCash, Paymaya). Other payment options, such as credit and debit cards, as well as payment centers, continue to be available. The airline also continues to offer unlimited rebooking coupled with waiving of change fees for all, providing assurance to passengers who might have last-minute change of plans. Remaining cautiously optimistic for 2022, the airline has also in-
cluded well-loved 23 international destinations for this seat sale such as Bangkok, Dubai, Fukuoka, Taipei, Nagoya, Osaka, Tokyo (Narita), and many more. “This year, we celebrated our 25th anniversary and remain true to our core purpose, which is to enable everyJuan to fly. We continue to ramp-up our network to address the anticipated demand in 2022, while continuing to promote safe and responsible travel amidst the pandemic,” said Candice Iyog, CEB Vice President for Marketing and Customer Experience. CEB is now operating above 60 percent of its pre-Covid domestic network. It has added more flights to key domestic destinations, namely, Bacolod, Bohol, Boracay, Cagayan de Oro, Cebu, Davao, General Santos, and Iloilo, following
the easing of travel restrictions. For international destinations, Cebu Pacific has resumed its operations to Fukuoka every Tuesday, and to Bangkok every Thursday and Saturday. Flights to Taiwan will resume December 15, and will operate once weekly (every Wednesday) moving forward. CEB also intends to resume its direct flights to Jakarta, Kuala Lumpur, Macau, and Saigon by January. As tourism begins to rise, CEB proudly operates with a 100 percent fully vaccinated flying crew to ensure that passengers have a safe and secure travel experience. This, along with its implementation of a multi-layered approach to safety in accordance with global aviation standards has rated the airline a 7/7 stars by airlineratings.com for its Covid-19 safety compliance.
and rental collection of 96 percent for the third quarter.
D&L unveils water project in Albay
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hemrez Technologies Inc., in partnership with doTerra International, one of the world’s leading essential oil companies, recently inaugurated the first solarpowered potable water distribution to benefit some 300 households from Barangay Quirangay in the municipality of Camalig, Albay. The company said the multimillion-peso sustainable water project took two years of planning and conceptualization through the initiative of Chemrez, a unit of D&L Industries Inc., and a substantial financial grant from doTerra. The project has 12 tap stands operated by a solar-powered pump for the village. The Lao Foundation and the Bantonan Community Development Cooperative played key roles in the selec-
tion of the community, as well as the mapping of sustainable projects for the residents. Previously, the people from the village, which sits six kilometers within the danger zone of Mayon Volcano, had to line up for four hours to fetch potable water from the town’s single water source. Most of those who fetch water are children of coconut farmers. They are mainly tasked at home to fill up four 20-gallon containers. Coinciding with the solar water launch, the Lao Foundation offered scholarships to students, in partnership with technical vocational schools in the area. The foundation currently has 139 tech-voc graduates from Don Bosco Legaspi, Don Bosco Naga and DualTech Canlubang immersing as In-Plant-Trainees. VG Cabuag
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Companies BusinessMirror
Monday, December 13, 2021
PSE STOCK QUOTATIONS
December 10, 2021
Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs
ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS IREMIT MEDCO HLDG PHIL STOCK EXCH
43.85 123.5 90.6 25.65 9.39 51.45 8.65 17.24 19.9 57.4 20.2 117 104.5 1.72 4.11 0.61 0.86 0.285 213.4
44.4 123.7 90.65 25.7 9.43 51.5 8.8 17.98 19.94 57.5 20.25 117.5 105.4 1.8 4.15 0.63 0.97 0.32 213.6
44.4 124.2 92.6 25.65 9.45 51.95 8.68 17.2 20 57.5 20.5 117.4 106.5 1.79 4.04 0.63 0.9 0.29 213.4
44.4 124.6 92.85 25.7 9.45 51.95 8.8 17.2 20.05 57.5 20.5 118.3 107.2 1.8 4.15 0.63 0.9 0.32 213.6
43.85 122.5 90.1 25.55 9.38 50.75 8.65 17.2 19.9 57.4 20 116.7 101.1 1.79 4.04 0.63 0.85 0.29 210
44.4 123.5 90.65 25.7 9.43 51.5 8.65 17.2 19.94 57.5 20.3 117.5 105.4 1.8 4.15 0.63 0.86 0.32 213.4
900 39,630 4,362,450 538,742,088 1,662,680 150,938,649.50 129,000 3,312,005 197,000 1,856,818 2,502,200 128,827,143 27,500 238,925 8,400 144,480 312,700 6,235,532 970 55,769 39,000 787,260 738,220 86,801,988 327,480 34,366,347 45,000 80,890 324,000 1,315,660 182,000 114,660 249,000 215,690 40,000 11,900 12,230 2,603,008
INDUSTRIAL
AC ENERGY 10.66 10.74 10.56 10.76 10.34 10.74 20,151,300 214,312,672 ALSONS CONS 1.06 1.07 1.07 1.09 1.06 1.06 250,000 265,930 ABOITIZ POWER 30.5 30.6 30.75 30.75 30.45 30.5 1,028,700 31,445,975 BASIC ENERGY 0.66 0.67 0.69 0.69 0.66 0.67 13,590,000 9,192,380 FIRST GEN 28.35 28.4 28.5 28.75 28.05 28.35 263,500 7,469,415 FIRST PHIL HLDG 71.95 72.65 72 72.85 71.9 71.95 83,240 5,989,433 MERALCO 296.2 296.8 297 297 294.4 296.8 126,430 37,506,070 MANILA WATER 25.05 25.2 25.5 25.5 25.1 25.2 285,500 7,220,440 PETRON 3.24 3.25 3.25 3.25 3.2 3.24 1,299,000 4,201,190 PHX PETROLEUM 10.68 11 11.04 11.04 10.98 11.02 10,800 118,736 PILIPINAS SHELL 20.35 20.4 20.5 20.5 19.84 20.4 119,900 2,422,189 SPC POWER 14.5 14.52 14.2 14.98 14.2 14.5 1,132,200 16,405,094 AGRINURTURE 3.83 4.18 3.99 4.18 3.8 4.18 192,000 768,640 AXELUM 2.83 2.9 2.94 2.94 2.82 2.9 1,188,000 3,408,010 BOGO MEDELLIN 61 69.95 61 61 61 61 40 2,440 CNTRL AZUCARERA 13.2 13.78 13.2 13.2 13.2 13.2 200 2,640 CENTURY FOOD 27 27.1 27.4 27.4 26.85 27 1,965,900 53,141,160 DEL MONTE 14.42 14.5 14.26 14.5 14.26 14.5 59,100 849,962 DNL INDUS 8.95 9 9 9 8.7 9 4,703,500 42,023,009 EMPERADOR 17.88 17.9 17.96 18.02 17.78 17.88 3,609,700 64,752,664 SMC FOODANDBEV 73.9 74 74.3 74.3 73.7 74 77,770 5,752,744.50 ALLIANCE SELECT 0.57 0.59 0.59 0.59 0.54 0.59 30,000 16,840 FRUITAS HLDG 1.22 1.24 1.25 1.25 1.22 1.24 3,017,000 3,712,760 GINEBRA 107 107.8 107.2 108 106 107 72,630 7,758,381 JOLLIBEE 233 233.2 238.8 238.8 232.6 233.2 428,280 99,983,932 MAXS GROUP 6.6 6.66 6.63 6.68 6.6 6.6 43,000 284,152 MG HLDG 0.16 0.163 0.16 0.165 0.16 0.164 810,000 132,550 MONDE NISSIN 15.98 16 16.1 16.1 15.9 16 20,271,200 324,043,608 SHAKEYS PIZZA 9.1 9.3 8.95 9.6 8.75 9.3 444,400 4,131,224 ROXAS AND CO 0.62 0.64 0.62 0.66 0.62 0.64 609,000 386,400 RFM CORP 4.59 4.6 4.72 4.72 4.6 4.6 5,000 23,290 SWIFT FOODS 0.108 0.117 0.111 0.111 0.108 0.108 2,220,000 243,360 UNIV ROBINA 129.4 129.5 129.5 130.7 129.5 129.5 1,651,640 214,105,078 VITARICH 0.74 0.75 0.73 0.75 0.73 0.75 1,078,000 800,840 VICTORIAS 2.5 2.53 2.48 2.53 2.48 2.53 297,000 746,930 CONCRETE A 46.35 48 48 48 48 48 1,000 48,000 CONCRETE B 48 56 56 56 56 56 400 22,400 CEMEX HLDG 1.12 1.14 1.12 1.14 1.1 1.14 29,487,000 33,024,760 EAGLE CEMENT 14.5 14.52 14.52 14.54 14.42 14.5 1,012,100 14,673,178 EEI CORP 6.44 6.45 6.63 6.63 6.44 6.44 237,300 1,541,494 HOLCIM 5.16 5.17 5.17 5.25 5.17 5.17 250,200 1,293,814 KEEPERS HLDG 1.39 1.4 1.47 1.49 1.4 1.4 55,497,000 79,311,150 MEGAWIDE 5.22 5.26 5.2 5.29 5.2 5.22 123,100 645,182 PHINMA 19.5 19.9 20.2 20.3 19.02 19.68 780,000 15,633,046 TKC METALS 0.78 0.85 0.8 0.8 0.78 0.78 114,000 90,040 VULCAN INDL 0.97 0.98 0.96 1.02 0.96 0.98 2,616,000 2,602,550 CROWN ASIA 1.71 1.73 1.75 1.75 1.71 1.73 67,000 116,890 EUROMED 1.42 1.5 1.5 1.5 1.41 1.41 14,000 20,190 PRYCE CORP 5.67 5.75 5.75 5.75 5.67 5.75 25,300 145,411 CONCEPCION 20.1 20.45 20.15 20.15 20.1 20.1 1,400 28,150 GREENERGY 2.38 2.41 2.4 2.44 2.35 2.41 2,935,000 7,019,120 INTEGRATED MICR 8.33 8.37 8.25 8.38 8.15 8.33 528,000 4,379,904 IONICS 0.69 0.73 0.69 0.7 0.68 0.69 552,000 379,100 PANASONIC 5.88 5.95 5.91 5.96 5.91 5.95 10,600 62,849 SFA SEMICON 1.06 1.09 1.06 1.09 1.05 1.09 330,000 348,070 CIRTEK HLDG 3.66 3.7 3.68 3.75 3.64 3.69 979,000 3,611,230
HOLDING & FRIMS
ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A LODESTAR LT GROUP MJC INVESTMENTS METRO PAC INV PACIFICA HLDG PRIME MEDIA SOLID GROUP SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP TOP FRONTIER
0.98 5.5 869 57.5 11.96 6.29 7.15 0.9 0.39 5.17 7.86 7.5 0.27 568 3.5 56.25 6.11 0.63 10.1 1.18 3.88 2.96 1.21 1.13 13.88 938 111 121.4
0.99 6 870 57.9 12 6.3 7.2 0.91 0.395 5.18 7.9 7.6 0.29 570 3.7 56.45 6.4 0.66 10.12 1.19 3.9 3.24 1.26 1.19 13.9 940 111.1 122
0.98 5.97 873 55.4 11.86 5.9 7.33 0.9 0.4 5.18 7.88 7.6 0.27 576 3.5 56.8 6.4 0.63 10 1.18 3.92 3.12 1.2 1.17 14.4 950 113 123
0.99 6 873 58.55 12.02 6.41 7.38 0.91 0.4 5.18 7.99 7.99 0.27 576.5 3.5 56.9 6.4 0.66 10.12 1.18 3.93 3.25 1.27 1.19 14.5 955 113.4 123
0.95 5.97 856.5 54.9 11.76 5.9 7.2 0.9 0.395 5.1 7.83 7.6 0.27 567 3.5 56.15 6.4 0.63 9.98 1.18 3.86 3.12 1.2 1.17 13.88 937 111 122
0.99 6 869 57.9 12 6.3 7.2 0.9 0.395 5.17 7.9 7.6 0.27 570 3.5 56.45 6.4 0.66 10.1 1.18 3.88 3.24 1.26 1.19 13.9 940 111.1 122
14,732,000 36,400 358,040 3,249,110 6,592,900 33,529,800 142,300 236,000 620,000 507,900 1,981,300 34,500 10,000 131,220 1,000 1,119,220 2,200 4,000 3,425,000 1,000 8,847,000 67,000 13,000 118,000 13,311,500 144,990 397,250 3,220
14,481,410 218,305 310,988,715 184,675,730 78,871,192 209,034,565 1,034,494 212,430 245,450 2,618,522 15,614,363 262,239 2,700 74,745,525 3,500 63,301,216.50 14,080 2,550 34,462,405 1,180 34,422,850 215,540 15,800 138,460 187,110,360 136,685,115 44,244,565 393,740
PROPERTY ARTHALAND CORP 0.62 0.63 0.62 0.63 0.62 0.63 292,000 181,290 ANCHOR LAND 6 6.5 6.5 6.5 6.5 6.5 200 1,300 AYALA LAND 35.45 35.55 35.6 35.7 35.35 35.55 3,836,600 136,180,225 ARANETA PROP 1 1.03 1.03 1.03 1.03 1.03 1,000 1,030 AREIT RT 46 46.2 47 47 45.8 46.2 1,306,600 60,384,255 BELLE CORP 1.34 1.35 1.33 1.35 1.33 1.34 693,000 922,400 A BROWN 0.79 0.8 0.78 0.81 0.78 0.8 441,000 352,450 CITYLAND DEVT 0.74 0.75 0.76 0.76 0.75 0.75 177,000 133,100 CROWN EQUITIES 0.1 0.106 0.105 0.108 0.1 0.1 24,040,000 2,424,930 CEBU HLDG 6.1 6.55 6.21 6.21 6.21 6.21 3,000 18,630 CEB LANDMASTERS 2.81 2.83 2.81 2.84 2.8 2.83 845,000 2,374,580 CENTURY PROP 0.39 0.395 0.395 0.4 0.39 0.395 950,000 375,150 DOUBLEDRAGON 7 7.08 6.91 7.13 6.91 7 325,500 2,283,498 DDMP RT 1.79 1.8 1.79 1.8 1.79 1.8 2,302,000 4,133,620 DM WENCESLAO 6.84 6.85 6.92 6.92 6.85 6.85 45,500 313,165 EMPIRE EAST 0.26 0.265 0.255 0.265 0.255 0.26 190,000 49,200 EVER GOTESCO 0.305 0.315 0.31 0.32 0.305 0.315 2,100,000 652,850 FILINVEST RT 7.56 7.57 7.6 7.6 7.5 7.57 3,340,600 25,248,186 FILINVEST LAND 1.11 1.12 1.11 1.12 1.1 1.12 1,533,000 1,705,120 GLOBAL ESTATE 0.84 0.85 0.85 0.85 0.85 0.85 1,000 850 8990 HLDG 11.16 11.2 11 11.2 10.5 11.2 689,600 7,457,942 PHIL INFRADEV 1.14 1.17 1.13 1.18 1.11 1.14 1,895,000 2,211,770 KEPPEL PROP 3.07 3.49 3.47 3.49 3.47 3.49 11,000 38,290 CITY AND LAND 0.85 0.91 0.86 0.91 0.85 0.91 184,000 160,710 MEGAWORLD 3.21 3.22 3.19 3.22 3.15 3.22 13,428,000 42,793,420 MRC ALLIED 0.265 0.27 0.27 0.27 0.265 0.27 5,220,000 1,389,500 MREIT RT 18.3 18.32 18.3 18.34 18.26 18.32 1,662,300 30,434,822 PHIL ESTATES 0.485 0.49 0.495 0.5 0.485 0.485 2,690,000 1,317,150 PRIMEX CORP 2.01 2.02 1.95 2.04 1.92 2.01 1,229,000 2,404,390 RL COMM RT 7.32 7.35 7.39 7.4 7.3 7.35 7,047,900 51,952,689 ROBINSONS LAND 18.62 18.64 18.46 18.62 18.16 18.62 779,900 14,438,512 PHIL REALTY 0.21 0.219 0.219 0.219 0.219 0.219 10,000 2,190 ROCKWELL 1.49 1.54 1.49 1.54 1.49 1.54 4,000 6,060 SHANG PROP 2.59 2.62 2.58 2.61 2.58 2.6 32,000 82,970 STA LUCIA LAND 2.73 2.91 2.91 2.91 2.91 2.91 5,000 14,550 SM PRIME HLDG 35.15 35.2 36 36 35.1 35.15 4,020,400 141,845,780 VISTAMALLS 3.61 3.72 3.61 3.72 3.61 3.72 4,000 14,550 SUNTRUST HOME 1.12 1.13 1.13 1.13 1.13 1.13 127,000 143,510 VISTA LAND 3.64 3.7 3.71 3.71 3.61 3.7 323,000 1,182,910 SERVICES ABS CBN 12.7 12.76 12.82 12.9 12.7 12.7 123,200 1,576,104 GMA NETWORK 13.66 13.68 13.5 13.8 13.5 13.66 652,000 8,897,974 MANILA BULLETIN 0.42 0.425 0.44 0.445 0.42 0.42 120,000 51,150 GLOBE TELECOM 3,366 3,400 3,422 3,422 3,366 3,366 32,225 109,390,990 PLDT 1,729 1,730 1,725 1,730 1,710 1,730 103,160 177,860,065 APOLLO GLOBAL 0.076 0.077 0.078 0.079 0.076 0.077 159,990,000 12,393,830 CONVERGE 32.85 32.9 32.1 33.1 32 32.9 7,311,300 239,805,060 DFNN INC 2.63 2.69 2.79 2.79 2.63 2.7 334,000 913,960 DITO CME HLDG 6.22 6.23 5.97 6.26 5.93 6.23 9,543,300 58,282,227 NOW CORP 1.51 1.52 1.51 1.54 1.51 1.52 259,000 392,390 TRANSPACIFIC BR 0.3 0.305 0.31 0.31 0.3 0.3 5,460,000 1,648,700 PHILWEB 1.83 1.86 1.85 1.86 1.83 1.86 194,000 356,440 2GO GROUP 7.52 7.6 7.65 7.65 7.52 7.6 17,300 131,081 CHELSEA 1.66 1.71 1.72 1.72 1.65 1.71 256,000 431,430 CEBU AIR 45.5 45.6 44.85 45.6 44.75 45.6 272,900 12,339,880 INTL CONTAINER 196.7 197.4 200 200 196.1 197.4 487,780 96,129,773 LORENZO SHIPPNG 0.9 0.91 0.91 0.91 0.9 0.9 166,000 149,660 MACROASIA 5.4 5.41 5.5 5.59 5.4 5.4 1,356,800 7,402,114 METROALLIANCE A 1.22 1.27 1.24 1.27 1.22 1.22 17,000 21,290 HARBOR STAR 0.91 0.92 0.92 0.92 0.91 0.91 60,000 54,970 ACESITE HOTEL 1.41 1.45 1.41 1.45 1.4 1.45 33,000 46,500 DISCOVERY WORLD 1.81 1.85 1.83 1.9 1.8 1.8 245,000 443,670 WATERFRONT 0.47 0.48 0.465 0.475 0.465 0.475 310,000 145,200 IPEOPLE 6.96 7.68 7.68 7.68 7.68 7.68 300 2,304 STI HLDG 0.35 0.355 0.35 0.355 0.35 0.35 1,340,000 469,500 BERJAYA 6 6.1 6.2 6.4 5.95 6 425,300 2,583,309 BLOOMBERRY 7.14 7.19 7.2 7.28 7.05 7.19 2,305,100 16,563,224 PACIFIC ONLINE 1.84 1.94 1.82 1.94 1.82 1.94 2,000 3,760 LEISURE AND RES 1.53 1.57 1.5 1.57 1.5 1.57 652,000 994,550 PH RESORTS GRP 0.83 0.85 0.83 0.86 0.83 0.83 1,125,000 948,060 PREMIUM LEISURE 0.44 0.445 0.435 0.45 0.435 0.445 620,000 274,650 PHIL RACING 5.75 5.95 5.7 5.7 5.7 5.7 900 5,130 ALLDAY 0.68 0.69 0.68 0.7 0.67 0.68 89,646,000 61,096,650 ALLHOME 9.92 10 10 10 9.5 10 195,200 1,925,006 METRO RETAIL 1.43 1.44 1.42 1.43 1.42 1.43 1,507,000 2,154,440 PUREGOLD 38.5 38.55 38.5 38.9 38.45 38.55 2,291,600 88,493,300 ROBINSONS RTL 65.55 66 64.9 66 64.9 66 570,610 37,422,174 PHIL SEVEN CORP 88 88.5 89.75 89.8 88.5 88.5 40,850 3,665,917.50 SSI GROUP 1.13 1.14 1.16 1.16 1.14 1.14 1,573,000 1,799,340 WILCON DEPOT 33 33.05 31.85 33.2 31.85 33 8,384,400 273,042,470 APC GROUP 0.229 0.238 0.23 0.23 0.229 0.229 390,000 89,560 EASYCALL 4.66 5.19 4.65 4.66 4.65 4.66 6,000 27,940 GOLDEN MV 492.4 540 525.5 540 490 540 51,970 26,760,690 IPM HLDG 7 7.04 7.04 7.04 7 7.04 5,700 39,958 MEDILINES 1.58 1.64 1.66 1.69 1.56 1.64 79,139,000 129,219,900 PRMIERE HORIZON 0.61 0.62 0.63 0.64 0.62 0.62 10,454,000 6,583,380 SBS PHIL CORP 3.71 4 3.71 3.8 3.71 3.8 3,000 11,220 MINING & OIL
ATOK 5.52 5.75 5.5 5.52 5.41 5.52 63,600 349,756 APEX MINING 1.35 1.37 1.39 1.39 1.33 1.37 182,000 244,540 ATLAS MINING 6 6.01 6.02 6.03 5.98 6 1,199,500 7,206,639 BENGUET A 5.1 5.2 5.1 5.16 5.1 5.1 10,600 54,072 COAL ASIA HLDG 0.27 0.28 0.27 0.27 0.27 0.27 50,000 13,500 CENTURY PEAK 2.64 2.7 2.65 2.7 2.65 2.7 420,000 1,131,500 DIZON MINES 5.24 5.94 7.35 7.35 5.94 5.95 1,557,000 10,548,150 FERRONICKEL 2.1 2.11 2.11 2.13 2.1 2.1 481,000 1,017,600 GEOGRACE 0.19 0.192 0.193 0.193 0.19 0.19 380,000 72,910 LEPANTO A 0.125 0.127 0.124 0.127 0.123 0.125 2,440,000 303,840 LEPANTO B 0.128 0.14 0.129 0.129 0.128 0.128 510,000 65,430 MANILA MINING A 0.0086 0.0088 0.0087 0.0087 0.0086 0.0086 9,000,000 77,600 MANILA MINING B 0.009 0.0092 0.0092 0.0092 0.0092 0.0092 1,000,000 9,200 MARCVENTURES 1.19 1.21 1.19 1.22 1.15 1.21 1,275,000 1,506,360 NIHAO 1 1.02 1.01 1.01 1 1 540,000 542,000 NICKEL ASIA 5.05 5.06 5.12 5.12 5.06 5.06 617,700 3,139,755 OMICO CORP 0.32 0.35 0.32 0.365 0.32 0.365 130,000 42,800 ORNTL PENINSULA 0.73 0.77 0.73 0.77 0.73 0.77 9,000 6,610 PX MINING 4.9 5 4.9 4.98 4.87 4.98 206,000 1,019,280 SEMIRARA MINING 21.4 21.7 21.7 22.2 21.35 21.4 879,200 19,005,230 UNITED PARAGON 0.0059 0.0061 0.006 0.006 0.0059 0.006 21,000,000 125,500 ACE ENEXOR 37 37.35 32.1 38 32 37 4,226,500 152,296,290 ORNTL PETROL A 0.01 0.011 0.01 0.011 0.01 0.01 28,700,000 287,400 ORNTL PETROL B 0.011 0.012 0.012 0.012 0.011 0.011 300,000 3,500 PHILODRILL 0.0086 0.0087 0.0087 0.0088 0.0087 0.0087 28,000,000 243,800 PXP ENERGY 6.26 6.34 6.33 6.4 6.3 6.35 251,600 1,600,053 PREFFERED HOUSE PREF A 100.5 101 100.5 101 100.5 101 2,590 261,570 AC PREF B1 514.5 526.5 515 516.5 515 515.5 9,930 5,118,970 ALCO PREF D 503 505 503 503 503 503 100 50,300 BRN PREF A 100.6 101.2 101.3 101.3 100.6 101.3 1,020 102,883 CEB PREF 44.6 45 44.5 45 44.5 45 47,200 2,122,025 DD PREF 100.7 101.9 100.8 100.8 100.7 100.7 7,200 725,095 FGEN PREF G 104 109 109 109 109 109 1,000 109,000 GTCAP PREF A 1,010 1,014 1,012 1,012 1,010 1,010 1,010 1,020,120 GTCAP PREF B 1,015 1,035 1,015 1,015 1,015 1,015 1,300 1,319,500 JFC PREF A 1,000 1,009 1,000 1,000 1,000 1,000 5 5,000 JFC PREF B 1,015 1,030 1,012 1,035 1,012 1,035 13,630 13,901,765 MWIDE PREF 4 98.2 100 100 100 100 100 1,000 100,000 PNX PREF 3B 102 102.5 105 105 102.5 102.5 10,410 1,075,850 PNX PREF 4 997 999 1,000 1,000 998 999 1,115 1,113,440 PCOR PREF 3A 1,060 1,100 1,060 1,100 1,060 1,100 14,880 15,958,800 SMC PREF 2F 79.5 79.65 79.5 79.5 79.5 79.5 8,410 668,595 SMC PREF 2H 75.8 76.95 76 76 75.8 75.8 33,400 2,535,214 SMC PREF 2I 79.3 79.8 79.3 79.3 76.7 79.3 113,480 8,984,040 SMC PREF 2J 76.7 77 76.7 76.7 76.7 76.7 13,500 1,035,450 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.2 13.4 12.2 12.2 12.2 12.2 48,000 585,600 GMA HLDG PDR 12.94 13 13.46 13.46 13 13 331,200 4,323,674 WARRANTS TECH WARRANT 0.82 0.83 0.82 0.84 0.8 0.83 382,000 313,660
167,849,654 25,787,980 -234,835.00 -25,193,198.50 -2,407,240 5,750 -6,690,628 2,281,504 8,600 744,738 12,907,854 -1,099,760 420,700 -5,036,150 -636,211 -1,794,046 3,185,025 2,014,290 704,813 -4,003,864 -399,310 -6,648,495 -21,555,559 1,050,040 -4,492,645.50 -839,577 -24,363,374 9,240 8,498,168 590,675 14,230 -50 52,800 -67,825,721 -740 260,270.00 11,975,734 51,600 -1,276,745 -115,130 -127,989 19,220 9,360 5,510 87,500 -2,875 -36,450 44,912 16,440 -142,560 271,280 -25,800 67,580,565 28,805,851 -7,326,770 25,011,229 145,427 2,278,507 -902,502 -799 -11,307,820 -43,177,086 3,212,047 -17,011,780 3,396,586 10,114,635 -33,975,607 33,040 -1,300 12,606,510 19,820,305 -22,400 50,000 -18,630 -586,570 -51,200 225,822 -66,100 -232,925 -50 15,148,809 353,690 178,050 1,755,020 25,500 -3,257,250 1,922,732 15,853,308 967,772 -24,127,485 347,410 -4,701,780 49,152,480 1,767,900 -12,667,795 26,800 3,893,791 36,000 -3,660 -5,320 0 5,107,625 -17,777,343 1,086,540 290,000 -1,124,366 1,820 684,980 36,490 -17,900 -1,710 22,799,280 1,098,643 -20,249,335 -3,618,232.50 7,952.50 -599,080 18,936,800 -11,500 209,530 413,280 -35,860 1,131,500 567,140 13,000 117,397 -64,210 3,167,570 -6,000 38,122,750 -8,700 -137,035 117,000 -619,380 - -2,435,734 123,000
SMALL & MEDIUM ENTERPRISES
ALTUS PROP ITALPINAS KEPWEALTH MAKATI FINANCE MERRYMART
20.75 2.34 3.25 2.45 2.52
FIRST METRO ETF
109.3
20.8 2.35 3.3 2.7 2.55
EXHANGE TRADE FUNDS
110.1
19 2.39 3.3 2.45 2.64
22 2.45 3.3 2.45 2.64
19 2.29 3.25 2.45 2.5
20.75 2.34 3.25 2.45 2.55
709,700 1,529,000 4,000 1,000 8,533,000
14,600,296 3,600,090 13,100 2,450 21,761,620
-255,525 21,150 1,482,500
110.3 110.5 109.3 109.3 14,720 1,616,342 121,026
www.businessmirror.com.ph
Exec: PLDT to help hasten recovery of local MSMEs
T
By Lorenz S. Marasigan
@lorenzmarasigan
he enterprise arm of PLDT Inc. is partnering with the Department of Trade and Industry (DTI) and Small Business Corp. (SBCorp.) to accelerate the recovery of micro, small, and medium enterprises (MSMEs).
PLDT First Vice President & Enterprise Revenue Group head Vic Tria said through its partnership with DTI and SBCorp., PLDT will provide “financial and technological assistance to small-scale entrepreneurs and MSMEs to spur and accelerate their recovery.” “Our urgent priority at PLDT Enterprise is to help MSMEs to get back up and running as communit y quarant ine measures slowly loosen up. Apart from connectivity, we recognize that they also need access to financial assistance technology services that will help them operate and thrive,” Tria said.
“This is why we’re consistently coming up with innovative digital solutions that are within reach and are tailor-fit to their specific needs, so we can help accelerate their recovery and at the same time enhance their resiliency.” Under the partnership, the three groups will support MSMEs by facilitating the delivery of assistance in the form of financing, connectivity, digital solutions, and access to upskilling and training. PLDT will be offering discounts for its fiber connectivity solution. For instance, its Beyond Fiber Solution, an enterprise-grade fiber
connectivity solution, will be offered to first time clients for only P90 for the first 90 days. Aside from this, the group also extends discounted plans for digital solutions such as Microsoft 365, Google Workspace, Shopify, and PayMaya payment solutions to allow MSMEs to transact online. “We at PLDT Enterprise assure our MSME partners of our unbreakable commitment to provide relevant solutions suitable for their online requirements. We commit to assist and guide our MSMEs in their digital transformation to help them recover as we look forward to a better business climate in the near future,” added Chito Franco, PLDT Enterprise Vice President for Small and MicroBiz. In March, PLDT said its telco
mutual funds
December 10, 2021
NAV One Year Three Year Five Year
per share
Last week
Share prices gained last week, with the main index almost reaching 7,200 points, as bargain hunters lifted the market amid easing concerns over the effects of the omicron variant of Covid-19. The benchmark Philippine Stock Exchange index (PSEi) gained 136.98 points to close at 7,192.17 points. The main index was up three of the four-day trading week, only giving up points on Friday as investors cashed in on their gains. Average daily trading value for the week was at P6.67 billion, with foreign investors, which accounted for 42 percent of the total trade, were net buyers at P7.94 billion. With the exception of the Mining and Oil index that fell 165.58 points to close at 9,196.45 points, all other sub-indices managed to close in the green. The broader All Shares index rose 40.23 to 3,830.43, the Financials index gained 31.98 to 1,590.47, the Industrial index added 90.90 to 10,397.95, the Holding Firms index surged 172.29 to 6,968.68, the Property index increased 17.19 to 3,233.90 and the Services index was higher 55.45 to 1,993.97. For the week, losers still managed to edge gainers 115 to 102 and 28 shares were unchanged. Top gainers were ACE Enexor Inc., Omico Corp., Alliance Select Foods International Inc., Ayala Land Logistics Holdings Corp., Aboitiz Equity Ventures Inc. and Medco Holdings Inc. Top losers were Berjaya Philippines Inc., Republic Glass Holdings Corp., Easycall Communications Philippines Inc., I-Remit Inc., Discovery World Corp. and Merrymart Consumer Corp.
This week
Share prices may continue to climb this week as omicron fears subside following the initial finding of the World Health Organization that it may be milder than the delta variant. This will be the second to the last full week of trading for the year, as the succeeding weeks will have holidays for the Christmas and New Year celebrations, both of which fall on a Saturday. December 24 was declared as a special working holiday. Broker 2TradeAsia said the inflation strategy of the Bangko Sentral ng Pilipinas for 2022 will be the theme for this week. “Capital markets will gyrate depending on the United States Federal Reserve’s reaction by the latter half of this week during this year’s last FOMC [Federal Open Market Committee] meeting,” it said. “Any aggression on the part of the Fed to speed up its tapering will impact interest rate outlook for next year, and leave risk assets guessing whether a rate hike is possible as early as first quarter of 2022.” The broker said the main index’s staying power above the 7,000-point level is a reminder that there were difficult lessons learned from the pandemic. “One of them being that Covid-19 will always be a developing case—after all the Greek alphabet doesn’t stop at delta, nor omicron.” Immediate support for the main index is seen at 7,100 points while resistance is at 7,400 points.
Stock picks
Broker Regina Capital Development Corp. advised to cut losses on the stock of Puregold Price Club Inc. (PGOLD) after a bloody session last week. “Momentum and selling pressure are both pointed sharply north following the volume-backed selling that took place [last week]. Investors may consider cutting down losses on their open PGOLD positions in the meantime, as the stock’s immediate support awaits at P37.50,” it said. Puregold shares were last traded at P38.55 apiece. Meanwhile, the broker recommended selling on rallies on the stock of Rizal Commercial Banking Corp., which saw a massive jump in share price last week. “At this point, RCBC’s already at an expensive level as it surpassed its historical moving averages. Nonetheless, indicators are pretty much supportive of the idea that RCBC can still stage another (surge),” it said. The broker said in the near term, RCBC’s price might trek closer to its new resistance at P21 before entering correction mode. Shares of RCBC closed last week at P20.30 apiece. VG Cabuag
Return*
Y-T-D Return
Stock Funds ALFM Growth Fund, Inc. -a
230.53
1.95%
-2.96%
-1.25%
1.47%
ATRAM Alpha Opportunity Fund, Inc. -a
1.6721
26.44%
6.08%
4.53%
27.35%
-6.11%
-3.95%
2.76%
ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.2196
2.9%
Climbs Share Capital Equity Investment Fund Corp. -a 0.7543 -7.04%
-5.27% n.a.
-7.2%
First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7804 2.03%
-2% n.a.
5.23%
First Metro Save and Learn Equity Fund,Inc. -a
STOCK-MARKET OUTLOOK
core income could grow by about 6 percent to as much as P30 billion this year, driven mainly by the projected growth of its home, w ireless and enter prise businesses. Manuel V. Pangilinan, the company’s president and chairman, said the profit guidance of P29 billion to P30 billion is in line with the continued growth of the telco’s bottomline, as it continues to surmount the negative effects of the pandemic. Pa ng i l i n a n sa id t he home broadband business will likely post a high double-digit growth, while both wireless and enterprise verticals will be in the high single-digit levels. Revenues this year, he added, are expected to post a high singledigit increase, which he described as “a compulsive number.”
5.1578
4.55%
-0.52%
0.72%
4.38%
First Metro Save and Learn Philippine Index Fund, Inc. -a
0.7739
1.83%
-2.38%
-2.92%
MBG Equity Investment Fund, Inc. -a
95.98
-3.56%
-5.98% n.a.
-5.78%
PAMI Equity Index Fund, Inc. -a
47.4988
1.86%
-1.18%
0.49%
1.41%
Philam Strategic Growth Fund, Inc. -a
495.15
1.78%
-1.27%
-0.19%
1.27%
Philequity Alpha One Fund, Inc. -a,d
1.1617
Philequity Dividend Yield Fund, Inc. -a
1.3242
14.17%
1.67%
2.18%
Philequity Fund, Inc. -a
36.2064
4.96%
-0.43%
1.22%
4.13%
2.73% n.a. n.a.
1.97%
Philequity MSCI Philippine Index Fund, Inc. -a
0.931
6.72% n.a. n.a.
5.87% 13.35%
Philequity PSE Index Fund Inc. -a
4.8956
2.67%
-0.42%
1.04%
2.18%
Philippine Stock Index Fund Corp. -a
817.5
2.5%
-0.43%
0.99%
1.98%
Soldivo Strategic Growth Fund, Inc. -a
0.7518
4.2%
-4.44%
-1.89%
4.58%
Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7286
3.8%
-3%
-0.57%
2.89%
Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9319 2.07%
-0.79%
0.74%
1.55%
United Fund, Inc. -a
-0.91%
1.71%
2.95%
-0.21%
1.48%
3.4166
3.16%
-0.32%
Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 109.9575
2.78%
2.23%
Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b
$1.1475
-3.8%
6.45%
5.71%
-4.61%
Sun Life Prosperity World Voyager Fund, Inc. -a $1.8391
12.04%
15.98%
12.21%
9.94%
Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a
1.6836
1.28%
0.6%
-0.08%
0.9%
ATRAM Philippine Balanced Fund, Inc. -a
2.2688
-0.15%
1.07%
0.25%
-0.73%
First Metro Save and Learn Balanced Fund Inc. -a 2.6876
2.39%
2.11%
1.94%
2.31%
First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2065
4.19% n.a. n.a.
NCM Mutual Fund of the Phils., Inc. -a
2.82%
2.0002
1.86%
PAMI Horizon Fund, Inc. -a
3.7362
-0.86%
Philam Fund, Inc. -a
16.7195
-0.78%
Solidaritas Fund, Inc. -a
2.1065
1.06%
Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6188 1.86% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9859
2.13%
1.68%
1.87%
1.07%
-1.42%
1.69%
0.98%
-1.3%
0.63%
0.88%
0.74%
-0.44%
0.49%
1.27%
-3.1% n.a. n.a.
-3.59%
Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9356
-1.21% n.a. n.a.
-1.43%
Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.925
-0.59% n.a. n.a.
-0.87%
Sun Life Prosperity Dynamic Fund, Inc. -a
0.9423
6.93%
0.5%
0.7%
4.24%
6.15%
Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a
$0.03794
-2.82%
2.77%
1.64%
-2.97%
PAMI Asia Balanced Fund, Inc. -b
$1.0568
-7.09%
3.88%
3.38%
-6.48%
7.74%
11.53%
8.93%
5.99%
Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.1968 0.51%
5.94%
4.41%
-0.45%
0.73%
Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7829
Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a
373.83
0.98%
2.93%
2.58%
ATRAM Corporate Bond Fund, Inc. -a
1.9283
1.59%
1.33%
0.39%
1.47%
Cocolife Fixed Income Fund, Inc. -a
3.2429
1.01%
3.07%
3.95%
0.86%
Ekklesia Mutual Fund Inc. -a
2.2471
-1.96%
1.83%
1.67%
-2.23%
First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4217 -1.09%
3.15%
1.89%
-1.28%
Philam Bond Fund, Inc. -a
4.3844
-5.22%
3.87%
1.67%
-5.3%
Philam Managed Income Fund, Inc. -a
1.3171
-0.05%
3.76%
2.72%
-0.32%
Philequity Peso Bond Fund, Inc. -a
3.9613
-0.29%
4.28%
2.65%
-0.99%
Soldivo Bond Fund, Inc. -a
1.027
-0.95%
4.84%
2.15%
-1.58%
Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1781
-0.4%
4.73%
3.55%
-0.87%
-1.24%
3.86%
2.88%
-1.81%
Sun Life Prosperity GS Fund, Inc. -a
1.7233
Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a
$488.88
1.27%
2.99%
2.49%
1%
ALFM Euro Bond Fund, Inc. -a
Є219.81
0.42%
1.15%
1.03%
0.27%
ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2013
-5.45%
2.24%
1.79%
-6.13%
First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 -1.89%
1.45%
0.95%
-2.26%
PAMI Global Bond Fund, Inc -b
$1.0237
-6.04%
-0.18%
-0.59%
-6.08%
Philam Dollar Bond Fund, Inc. -a
$2.4978
-1.05%
5.08%
2.8%
-1.66%
Philequity Dollar Income Fund Inc. -a
$0.0623205
0.13%
3.05%
2.03%
0.03%
Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1838 -0.36%
3.52%
1.75%
-1.23%
Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a
2.55%
0.97%
First Metro Save and Learn Money Market Fund, Inc. -a 1.0572 0.95% n.a. n.a.
131.08
1.09%
0.87%
Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3145
1.36%
1.49%
2.84% 2.63%
2.53%
Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0602
0.8%
1.46% n.a.
0.63%
Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3586
22.21% n.a. n.a.
20.27%
Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -a,d
$0.97
-1.02% n.a. n.a.
-1.02%
a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).
"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."
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SSS urges members not to deal with fixers
T
HE Social Security System (SSS) encouraged its members to refrain from transacting through fixers when applying for a Unified Multi-Purpose Identification (UMID) Card. The SSS said members can submit their UMID Card applications at SSS branches following the number coding system. They should also set first an appointment with their preferred branch using the Appointment System in the My.SSS Member Portal. The list of SSS branches accepting UMID Card applications can be accessed at https://bit.ly/UMIDAppFacilities. Following the SSS guidelines will also minimize the risk of exposure to Covid-19. “The SSS is the only authorized institution that accepts applications and issues UMID Cards for its members working in the private sector. The biometrics data capturing, which is an important process in the issuance of UMID Cards, is currently done only through our branches,” SSS President and CEO Aurora C. Ignacio was quoted in a statement as saying. “We are reminding our members to refrain from transacting with fixers to avoid any inconvenience.” Together with the properly accomplished UMID Card Application Form, members are also required to bring one primary valid ID, or in its absence, two secondary valid IDs. UMID Card Application Forms can be downloaded through the SSS website at https://bit.ly/UMIDAppForm. The SSS resumed the acceptance of UMID Card applications in its branches last September. Qualified to apply for SSS-issued UMID Cards are members with at least one posted contribution. It is free of charge for first-time applicants, but for those who lost their UMID Cards or need to update them, they will have to pay a P200-replacement fee at the SSS branch. Meanwhile, members who applied for an SS Number online beginning December 10, 2020, will no longer need to fill out a UMID card application form. They just need to set an appointment with their preferred SSS branch for biometric data capture and present their printed SS number application and transaction number slip. The SSS said there will be delays in the production and availability of UMID Cards until further notice. A notification will be issued to UMID applicants when their cards are available for pick-up. For members who are applying for work in Taiwan, the SSS will continue to issue certification in lieu of the SSS-issued UMID Card to facilitate their visa application. For more information, visit the uSSSap Tayo Portal at https://crms. sss.gov.ph, follow the SSS on Facebook, Instagram and YouTube at “mysssph,” Twitter at “PHLSSS” or join its Viber Community at “MYSSSPH Updates.” Cai U. Ordinario
Banking&Finance BusinessMirror
@brownindio
A
NALYTICS firm Fair Isaac Corp. (Fico) said small and medium enterprises (SMEs) in the Philippines need faster access to capital to be able to become a more potent force in the economy. Aashish Sharma, senior director of decision management solutions for Fico in Asia Pacific, told the Business Mirror that speed in granting access to capital for SMEs is important as credit plays a very big role in their day-to-day operations. Moreover, Sharma said Fico has developed a track record in the SME-lending space to assess the creditworthiness of a business quickly and accurately. “Traditionally, business lending
B3
BSP working with BDO, UnionBank on hacking events cited on socmed
T
By Tyrone Jasper C. Piad
@Tyronepiad
HE Bangko Sentral ng Pilipinas (BSP) is working with the BDO Unibank Inc. and Union Bank of the Philippines in addressing the issues regarding alleged hacking incidents that have been circulating the social media recently. In a statement on Sunday, the BSP said officials are monitoring the complaints regarding unauthorized transactions being posted on social platforms. “We are in close coordination with BDO as well as [UnionBank] on this incident to ensure that remedial
measures are being undertaken, including reimbursement of affected consumers,” the central bank’s statement read. A statement sent to the BusinessMirror by the Sy-led bank noted that BDO was aware of the fraudulent cases that have affected
some of its clients. “We assure you that we have already implemented additional security controls to block further attempts and continue to protect bank credentials,” the BDO statement read. In addition, the bank said online banking users were required to update their passwords to improve account security. “Cybersecurity is a focal point of the banking sector,” BDO said. “We at BDO are continuously investing and working towards improving our security infrastructure to protect our clients’ money.” According to reports, the cash stolen from the BDO accounts of the victims were transferred to a person named Mark Nagoyo, who has several UnionBank accounts. Charisse D. Matanguihan, one of the victims who shared their story
New system seen to further boost intergovernmental transactions By Cai U. Ordinario
@caiordinario
T
HE National Government Collection and Disbursement System is now operational and will allow Authorized Government Depository Banks (AGDBs) to upload online daily and monthly collection reports to its electronic database, according to the Bureau of the Treasury (BTr). In a report to the Department of Finance (DOF), the BTr said the system will also expedite the consolidation of reports and the process of issuing Certificates of Deposited National Collections to National Government (NG) Agencies. The online system developed last year and launched in May will facilitate the digital transformation programs of various government line agencies attached to the DOF. The digital transformation of all agencies was ordered implemented long before the pandemic, the DOF said in a statement. These digital transformation programs also included BTr’s Client Relationship Management (CRM) system for the National Registry of Scripless Securities (NRoSS). The CRM system serves as a portal where NRoSS participants can raise a ticket to report issues, concerns and queries related to the NRoSS system. The latter was put in place in March last year. This enables the BTr to promptly address NRoSS-related queries and monitor the progress of each ticket, perform analysis of data logged in the system and provide a feedback facility that serves as a measure of the satisfaction upon resolution of each ticket. The DOF said the BTr also allows
online payments for NRoSS tokens and/or maintenance fees to allow users to pay through auto-debit arrangements with their banks. The BTr also launched the Online Fidelity Bonding system to allow the electronic submission and processing of fidelity bonding requirements and e-payments through the LinkBiz portal of the Land Bank of the Philippines (LandBank). The Treasury has an online Records Management system and Legal Information Archive to facilitate its legal documentation and investigation functions. The BTr’s other digitization projects include upgrades to the NRoSS, which modernized the existing auction and registry platforms. According to the report, the NRoSS upgrade is capable of performing core functionalities, which include the following: full management of primary market activities; the electronic registry centralization and settlement of government securities; the tax-tracking of secondary market trades; and, the facilitation of securities transfers for trade and non-trade transactions. Further, in line with its financial inclusion initiatives, the DOF said the BTr allowed the online submission of Retail Treasury Bond (RTB) orders, along with the online ordering of government securities, which has benefited small investors. Government Securities Eligible Dealers (GSEDs) may now submit their retail bond switch orders through the NRoSS. Previously, GSEDs were required to fax or mail documentary requirements, which were then manually encoded by the Securities Origination Division into the NRoSS.
Small retail investors, meanwhile, can purchase government securities through the BTr online ordering platform for the following: LandBank; Development Bank of the Philippines (DBP); First Metro Securities Brokerage Corp. (FMSBC); and, China Banking Corp. (ChinaBank) account holders. Other platforms include the Bonds.Ph mobile app and the Overseas Filipino Bank (OFBank) app. To simplify the monitoring and recording of the non-financial assets of the NG, the BTr has set up the National Asset Registry System (NARS), which maintains a comprehensive list of all strategically important assets such as land, buildings, roads, bridges, irrigation systems and dams. “This system will facilitate better management of these assets including the provision of necessary insurance measures,” the DOF said. The BTr has also put in place its Project Monitoring Information System (Promis) that enables the monitoring of ongoing projects at each stage of procurement and implementation. This system will automatically log milestones, updates and activities and alert the management for any possible delay. It’s online Treasury Single Account Reporting and Monitoring System (eTRAMS), which was developed in partnership with the LandBank, aims to monitor revenue collections and disbursements of the NG, while the BTr Mobile Application was designed as a centralized platform so users can understand the functions of the Bureau, learn about the different types of government securities and easily access online ordering platforms and other investment channels.
‘SMEs need faster access to capital to be more potent force in economy’ By Rizal Raoul S. Reyes
Editor: Dennis D. Estopace • Monday, December 13, 2021
across Asean [Association of Southeast Asian Nations] has been relationshipbased and largely an in-person process; but this is changing,” Sharma told the BusinessMirror. “There is growing demand for digital-first lending as companies look for financiers who will remove the agony from the process and facilitate easy access to funds.” Moreover, the lenders that Fico has worked with in the US have developed APIs (application programming interface) that give them access to a company’s books via cloud-based accounting software allowing them to see revenue and costs in almost realtime. This allows those lenders to make very accurate decisions about business overdrafts and similar loans, Sharma explained. Most recently, Fico helped Banreser-
vas, one of the largest banks in Central America with its SME lending. Sharma said Fico analytics and originations technology allowed the bank to automate 80 percent of its loan assessments, increase loans processed by 30 percent and offer up-sells to 47 percent of approved applicants. “With the right elements in place in the Philippines, a similar process would be possible using Fico’s platform-based originations solution,” Sharma told the BusinessMirror. “The great mutual benefit for Filipino businesses and their lenders will be the strengthening of their relationship and the ability to respond quickly to changing needs. Business lending is after all, not a one-time activity, but rather a multi-product and multi-year relationship.” Although the Philippine SMEs are
still in their initial stage of digital transformation, Sharma said small business surveys showed there is high interest and understanding that creating compelling online experiences is key to growth post-pandemic. He pointed out that implementing the plan is a huge challenge for businesses that are already cashstrapped after enduring the impacts of Covid-19. “Government support and of course the financial services sector will be critical to supporting small businesses to make the investments needed to grow in the digital economy,” Sharma said. “Lenders have an opportunity in the Philippines if they can roll-out a digitalfirst SME solution that delivers loans quickly, painlessly and with accurate risk assessment,” he added.
on Facebook, said that the money in her three BDO accounts—one is hers while the other two are for her children—were “wiped out with remaining balance of a few hundred pesos only” on December 10. Upon checking her email, she found out that four fund transfers were confirmed without her knowledge. Matanguihan clarified that it was not a phishing incident because she “didn’t click any suspicious link [and neither] responded to any message from unknown sender nor visited any compromised web sites.” The victim said she reached out to the Department of Justice, Philippine National Police, National Bureau of Investigation, Department of Information and Communications Technology and the BSP, among others, to resolve the matter. A day after Matanguihan’s inci-
dent, Ellard Chua said in a Facebook post that his name was involved in a data breach. “Someone is using my name as beneficiary, but the beneficiary account number is not mine,” he said, adding that he “did not receive a single peso.” “At 12:30 p.m. [of December 11], I received a text from BDO that P50,025 was debited from my account. [Thirty] minutes after, I received an email confirmation of the transaction. I did not initiate nor authorize the transfer,” he said. Like Matanguihan, he believes that it was not a phishing incident either. “Rest assured that we continue to collaborate and engage stakeholders to ensure the safety and integrity of the financial system as well as the protection of financial consumerism,” the BSP concluded.
Perspectives The future of local govt
E
mbracing connectivity and customer centricity. Local government organizations today face an important opportunity to revolutionize how they function and how they meet the fast-evolving needs and expectations of their customers in the digital era—the citizens, businesses, partners, leaders and stakeholders across the diverse cities and communities they serve. The future of the local government sector is clear—digitally enabled, data-driven and community focused as never before. The transformation journey unfolding is about breaking down traditional government silos and becoming more connected—organization and community-wide—to put the customer at the very center of everything a modern local government organization does. A fullyconnected government organization is important in enabling and supporting the shifting role of local government leadership, ideally extending the government’s arsenal of capabilities, capacity and reach and ultimately helping to ensure inclusion, prosperity, resilience and recovery. Delivering a new world of personalized government services to customers. The challenge for local government organizations is to effectively serve today’s customers and communities in new ways, ideally with a single timely view of customers to deliver what they have come to expect in terms of service and outcomes amid the modern digital experiences of other service-based organizations. Enhanced customer outcomes should be a leading priority. With digital technologies making customercentric personalization the norm, some local authorities are picking up on this signal of changing expectations and are taking strategic action to put their own customers at the center of all they do. Redesigning services using timely customer data, analytics and insights. The overarching goal should include a sustained focus on designing and implementing an operating model that is truly informed by the customer’s needs in order to provide the digital services and capabilities—the processes, systems, connections and data—that will help optimize how government functions for each of its constituents and stakeholders. Trust is key to unlocking digital identity, security and data insights. A key signal of change is that trust is becoming the most important factor for local government organizations to address in
order to make greater use of data and technology. If citizens do not trust governments to manage personal data securely, they will withhold information, decline permission for it to be shared or go back to traditional methods, ultimately undermining the impact and advantages of digital capabilities. Modern workplace cultures can reflect the values of today’s emerging professionals. Some local government organizations are returning to their offices as Covid-19 recedes in their areas, often developing recovery plans that provide an opportunity to change how they work. The pandemic has been a signal of change like no other, but how organizations adopt flexible and remote working beyond the pandemic may depend on the type of area they serve. The path to a greener future can begin with leaders at the local level. The time has come, however, for local government organizations to expand their view and help drive significant gains in all areas that are indispensable to sustainability, including net zero of course. They should also pay attention to managing population growth impact, driving urban planning for a new era, supporting ecological diversity and managing the impact of climate change—floods, fires, rising sea levels, natural catastrophes and their growing threat to local government’s customers and assets. A key is to align government capabilities, resources, services and stakeholders enterprise-wide via a fully connected, end-to-end ecosystem that precisely tracks customer needs, responses, performance and outcomes. The future of local government demands a fully-connected enterprise. The future is about breaking down silos and forging new connections among people, processes and technologies. Traditional divisions between front, middle and back offices are collapsing. Future-focused organizations are shaping new operating models in which every part of the organization, end to end, is working together seamlessly to deliver against the big picture. The excerpt was taken from the KPMG Thought Leadership publication entitled “The future of local government.” © 2021 R.G. Manabat & Co., a Philippine partnership and a member-firm of the KPMG global organization of independent memberfirms affiliated with KPMG Intl. Ltd., a private English company limited by guarantee. All rights reserved. For more information on KPMG in the Philippines, you may visit www.home.kpmg/ph.
Marketing BusinessMirror
B4 Monday, December 13, 2021
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The coronavirus chronicles: all that talk about Tiktok T
PR Matters By Millie F. Dizon
n The Chipotle restaurant chain, according to Investopedia, ran a Halloween “Boorito” coupon giveaway campaign encouraging TikTok users to dress up for the holiday and post their images. The campaign scored four million views. n e.l.f. Cosmetics teamed up with a few social media influencers to create an online reality show and contest called #eyeslipsface. The ad campaign got more than 3.8 billion clicks. n Uyi Omorogbe, 23, posted his first viral TikTok video in April 2020, and his clothing brand NASO sold out its minimalist African inspired collection less than 72 hours later. The video now has 6.5 million views and Omorogbe now has 3.3 million TikTok followers. Just what is TikTok and what makes it so magical? According to Investopedia: n Tiktok is a popular social media app that allows users to create, watch, and share 15-second videos shot on cellphones n The app was launched in 2-16 by the Chinese technology company Bytedance n 69-percent of TikTok users are between the ages of 13-24. Only 7.1 percent of TikTok users are age 50 or older n Now available in more than 150 different markets, TikTok has offices in Beijing, Los Angeles, Moscow, Mumbai, Seoul, and Tokyo n The app has about 1.1 billion active global users by early 2021. With its personalized feeds of quirky short videos set to music and sound effects, the app is notable for its highly addictive quality and high levels of engagement. While potentials are huge and it’s a great way to promote your business are different from other social media platforms. In an article in Inc.com, Joely Simon shares with us 3 Strategies for Making Your Business Go Viral on TikTok.
1. Make people laugh
Omorogbe’s first viral video,
Brand & Business: Globe and Twitch team up for a worryfree gaming experience
MANILA, Philippines—Stream. Watch. Play. Repeat. Catch your favorite gaming streamers, forge new connections, and play worry-free on the world’s largest interactive live streaming service with a collaboration between Twitch and Globe that will see the launch of awesome and new datapacks! Subsc r ibe to t he a l l- ne w Go+99 with GoPLAY, and get 8GB for Twitch and other apps, along with 8GB for other sites; or Homewatch 199, and get 6GB for all sites + 4GB daily for Twitch
and other Daily Video apps. Want to show your support for your favorite Twitch creators? The new datapacks let you watch them without data worries, whether it’s on your desktop or on the go on your mobile device. Globe lets you subscribe to them via GCash, which unlocks special Twitch experiences like exclusive chat emotes and an ad-free experience. Catch / Maggiekarp, /Noctile, /KrisRey, /RamenStyle, and /JollyMcdo on December 11 at 8 p.m. and December 12 at 10 a.m. on Twitch, and expect lots of games and fun surprises! “Whether you’re an aspiring streamer or an aspiring pro gamer who wants to learn the tips and tricks of the gaming industry, or a fan who simply wants to learn more about the game you love, Globe’s Go+99 with GoPLAY, and Homewatch 199 will help you enjoy gaming and Twitch with
TikTok itself to know more about it before she started campaigns for her business Lady Black Tie. And she was successful. Marketing on TikTok is still in its infancy, but a growing number of agencies are eager to help brands create the kind of quirky content that gets clicks. There is still much especially those of us who are not digital natives can learn about it. And the best time to start is now.
cottonbro | PEXELS.COM
HE fascinating thing about TikTok is that while we are all enthralled by it, many of us don’t understand enough about it to make it work. Nevertheless, it remains a Holy Grail in social-media because of numerous TikTok success stories.
Pissing off my African Parents Part 1, featured the young founder singing a punk rock song to his father, and his father’s resulting confusion. It helped showcase Omorogbe’s personality, and made him relatable to his target audience—16- to 35-year-old firstgeneration Americans. The video’s generational clash hinted at NASO’s brand story, which bridges Omorogbe’s Western upbringing with his father’s Nigerian upbringing. And humor had a lot to do with its success. “I made content with the intention of creating something that people want to share,” he says. “If people laugh about it, they engage with liking and commenting, assuming the algorithm is driven by engagement rate.” Simon also quotes Art Lightman, a digital media and marketing professor at Carnegie’s Mellon University’s Tepper School of Business, who says that on TikTok, humor and sarcasm sell. But he warns not to go overboard as humor can backfire if the company doesn’t really understand the topic, audience, or social platform. Lightman’s advice: “Hire 22or 23- year-olds and put them in charge of your creative and social engagement.”
2. Be transparent
Traditionally, a founder or
fun and convenience,” says Rina Siongco, Globe’s Head of Get Entertained Tribe. Subsc r ibe to Go+99 w it h GoPLAY and Homewatch 199 today by downloading the New GlobeOne App on the Google Play or App Store. From there, head to the Promos Tab, selecting either Globe Prepaid or Home Prepaid WiFi, and just choose your preferred promo for gaming and streaming!
Events: Google supports STRAP’s first-ever TRANSPINAY SUMMIT 2021
MANILA, Philippines —The Society of Trans Women of the Philippines or STRAP will hold the first-ever TRANSPINAY SUMMIT 2021: Enabling a future-ready transpinay, supported by Google. The two-day event is freely accessible to the public and will be
CEO’s inspirational success story is the cornerstone of a company’s branding. And this has been a winning formula through the years. However, there are also times when candidness and openness could make a difference. Simon’s case in point: Mimi Shou, whose jewelry company sales increased 380 percent after sharing a TikTok job termination and failing new business. While New York-based Shou, 26, did not originally intend to promote her eponymous jewelry company, she now has 40,000 followers. Her unlikely formula? In her videos, “she makes fun of herself, especially in regards with her single lifestyle, and, at first, the lack of success of her jewelry brand.” Simon points out that her first viral Tiktok used hashtags like “small business,” “for you page,” and “girl boss,” but rather than showing an inspirational story, she showcased her business flop. Her flop soon turned into skyrocketing sales as she sold out her inventory, and then sold out again on her preorder inventory. “People really related to my viral Tiktok, because there are a lot more people that did get laid off and/or quit their job to launch a business,” Shou says. “Sometimes some transparency and honesty can really be comforting during these times. So, I try to offer
streamed on STRAP’s Facebook page and YouTube channel on December 11, 2021 and December 12, 2021 at 1:00 p.m. (Philippine Standard Time), hosted by Miss Trans Global 2020 Mela Habijan. The conference aims to create a safe space for a helpful discussion online where transpinays can learn so much about various topics such as transitioning, legal matters, financial literacy, the trans advocacy and movement, workplace and career, self-expression, love and dating, and so much more! The event also strives to promote better understanding on diversity, equity and inclusion especially regarding gender identity among transpinays. Inspiring speakers will feature corporate and medical professionals, academics, innovators, thought leaders, influencers, activists, advocates, and allies–all work-
that throughout all aspects of my videos, including my dating and family life.”
3. Be subtle
AS suggested by her high school employees, Marissa Tilley, 31, started a Tiktok for her business, Lady Black Tie, a dress shop located in Andover, Massachusetts, that also sells on an ecommerce website. Before plunging into this, Tilley says she began using the app itself to understand relevant trends and sounds. In short, how it works. Then, Simon says, “she went viral, hitting 6.9 million views on a video that barely took any time and energy to create, a race to dress a mannequin. “We weren’t really selling anything,” she says. Not only was the video novel, as viewers in the comment section noted they had never seen anyone change a mannequin, but Lady Black Tie asked the question—“Who do you think is gonna win?—spurring crucial engagement.
Our TikTok takeaway 1. Mastering TikTok begins with knowing TikTok. Lightman says that the first step in your TikTok strategy must be to spend time on the platform. Marissa Tilley has shown us the way by sharing with us that she began using
ing towards the empowerment of transpinays. Rain Villagonzalo, Executive Director of STRAP, said “STRAP, a support group for the transpinay, by the transpinay, believes that there is an urgent need for more accurate and reliable information to be shared with the broader trans community. For example, we understand that there is misinformation around transitioning safely. So the challenge is, how do we help more transpinays beyond the organization get the right information? In the absence of a national anti-discrimation law that protects our trans sisters, we need to double-down on educating them about their human rights. There are many other topics in this summit that we wish would reach every transpinay out there. We hope that the knowledge that they’ll get from the summit will
2. Conventional advertising that stresses a product’s superior qualities doesn’t work in TikTok, says Deborah D’Souza in an article in Investopedia. “Light, fun campaigns set to music hit the spot,” she says. “The ultimate goal is to go viral on the site and spur imitations by TikTok users.” Lightman adds that, “if a medium is to entertain and to educate, overt advertising messages don’t work. Subtle advertising messages can work out very effectively by building out community awareness.” 3. Age does Matter. Lightman’s suggestion to hire 22- or 23-yearolds and put them in charge of your creative and social engagement in TikTok makes a lot of sense when reaching out to a very young demographic. Otherwise, we would appear trying too hard and out of touch. In fact, celebrities themselves have come to realize this, as we see Kim Kardashian joining her daughter North West’s TikTok. 4. Make the Match. As mentioned earlier, TikTok is perfect for reaching out to a very young demographic. We may use other formats and media for campaigns that reach out to other markets. 5. Keep humor, transparency and subtlety in mind when working on your TikTok videos. 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 chair. 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.
empower them as they navigate and enrich their daily lives.” “STRAP’s first-ever transpinay forum is important as it will holistically equip the community with helpful knowledge and inspiring stories that can guide them in making confident decisions about their journey. Google is proud to support STRAP’s TRANSPINAY SUMMIT 2021 as part of our commitment to empowering the LGBTQ+ community and championing diversity, equity, and inclusion,” said Bernadette Nacario, Country Director of Google Philippines. Nacario added, “We have made progress for the community but we still have a long way to go… Allyship in thoughts, words, and actions is also crucial. To win this fight, we need more allies who can champion and defend the transpinay community.
Style
BusinessMirror
www.businessmirror.com.ph
Editor: Gerard S. Ramos
• Monday, December 13, 2021
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Miss Universe 2021 most likely TRIBUTE TO ONE OF THE MOST ICONIC 21ST CENTURY FASHION DESIGNERS THE UNIVERS group, led by its president Jappy Gonzalez, the exclusive Philippine distributor of OffWhite, pays homage to Virgil Abloh who passed away last November 28 at the age of 41, after a two-year battle with cardiac angiosarcoma cancer. Adorning the newly opened Off-White Greenbelt 3 store with hundreds of sunflowers against a sign with the simple statement “Virgil Forever,” they join the world in commemorating the vast contributions of the revolutionary creative force who championed inclusion and street culture. Gonzalez shares, “Abloh was very inspiring, especially to the youth. His message was unrelenting, that anything is possible. He was such a big force in making fashion culturally relatable.” After famously working under influential rapper Kanye West for years, Abloh launched his first collection for Off-White in 2014. The designer’s love of collaboration took the brand to greater heights and thus introduced a new norm in the fashion industry—one marked by collaboration and crosscultural synthesis. With Off-White, the late designer collaborated with individuals like A$AP Rocky and Takashi Murakami, as well as companies varying from big to small, luxury to mass market, both within and outside of fashion, such as Nike and IKEA. In 2018, Abloh was appointed as Louis Vuitton’s men’s artistic director, which paved the way for one of the highest profile cross-overs between street-wear and luxury. Abloh’s new role introduced more Black talent in the luxury fashion industry, which before then had remained primarily white. While he stood as one of the very few Black creatives in the European luxury house, he decided to use this newfound platform to elevate other Black artists like Kid Cudi, Devonte Hynes, and Playboi Carti through different initiatives. Inspiring change, Abloh also designed the NikeLab Chicago Re-Creation Center to hold mentorship programs for the youth. Gonzalez continues, “He paved the way for fashion to be more inclusive and relevant. He pioneered a cultural movement that brought people together. His legacy and contributions will never be forgotten.”
VIRGIL ABLOH, the influential fashion designer who passed away in late November.
TOUGH 16 BETS
Philippines, USA, India, Puerto Rico, Paraguay, Colombia, France, Spain, South Africa, Belgium, Venezuela, Brazil, Vietnam, The Bahamas, Argentina, Chile. PHOTOS FROM CANDIDATES’ INSTAGRAM ACCOUNTS
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N the land of Gal Gadot, Bar Rafaeli and Natalie Portman, 80 awesome women are competing today to be the next Miss Universe. On Saturday dawn Manila time were the preliminary evening gown (some clad in Filipino designs) and swimwear (in Gottex, founded by Lea Gottlieb, Israeli queen of fashion) competitions. The contenders’ performances were solid and satisfying somewhat, but not truly spectacular. It is the beauty tilt’s 70th edition. For a dose of nostalgia, Israel’s one and only winner, 1976’s Rina Messinger (now Mor-Goder, a lawyer and writer), was part of the selection committee. GMA Queen Marian Rivera (in Jenny Packham), unplaced Miss Universe India 2015 Urvashi Rautela (now a Bollywood superstar) and 2016’s Iris Mittenaere of France (both in Michael Cinco) were also part of the panel. After a seven-month reign (the shortest ever), Mexico’s Andrea Meza will relinquish her Mouawad Power of Unity Crown to a number of worthy successors. IMG/MUO looks for the supermodel prototype. In that category is the Czech Republic’s Karolina Kokesova (Miss Global 2019). Spain’s Sarah Loinaz has a hint of a Yasmeen Ghauri vibe. Kenya (Roshanara Ebrahim), Namibia (Chelsi Shikongo) and Nigeria (Maristella Okpala) all have the imperial elegance of Iman. The P Group is always phenomenal, with Panama (Brenda Smith), Peru (Yely Rivera), Poland (Agata Wdowiak) and Portugal (Orícia Domínguez) stepping its game up with powerhouses: the Philippines and Puerto Rico, and upstart Paraguay. At the onset, the glamazon Paraguay was the “Girl to Beat.” Her participation is widely supported, being declared by the Chamber of Deputies as a national and cultural interest of her nation. In contrast, South Africa’s government boycotted her, in protest against Israel’s conflict with Palestine. (That’s why she wore an immaculate Ezra Santos gown.) Lebanon was a natural no-show, as were Indonesia and Malaysia. But Bahrain (Manar Nadeem Deyani) joined for the first time while Morocco (Kawtar Benhalima) returned after 1978. I’m still wondering why Miss Universe UAE, with Pinoys at the helm, was canceled. Besides being absolutely beautiful, a Miss Universe must be well-versed, well-rounded and well-spoken. Thus, superior communication skills is a must. This ability The Bahamas is gifted with. (She wore a Garimon Roferos gold gown). But the USA’s Elle Smith is clearly the most charismatic, articulate and compelling of Batch 2021. Though it is the winningest country with eight titles, it last won in 2012 (Olivia Culpo) and was in the Top 3 in 2015 (Olivia Jordan). Elle (in a Michael Cinco couture masterpiece) can break the dry spell. Here are the women whose lives are about to change: ■ ARGENTINA: Julieta Garcia, 22, model/psychology major: “To be able to demonstrate that with perseverance, if one becomes conscious of what they want, takes responsibility for their actions, you can improve anything you want and get where you want to go.” ■ BELGIUM: Kedist Deltour, 24. She was inspired by Miss Belgium 2012 Laura Beyne, who has a Congolese mom: “My name means Light and Hope. I was born in Ethiopia and adopted when I was 10 years old. For me, it’s important to help people because when I was child, I had to survive. I am a survivor. I can show the world that if I can do it, you can do it, too.” ■ BRAZIL: Teresa Santos, 23, owns a sustainable jewelry business that aids women in crisis situations:
“One of my biggest dreams is to open a space for women in vulnerable situations where they can take care of themselves and have access to psychological help.” ■ CHILE: Antonia Figueroa, 25, environmental engineer with a black belt in taekwondo, bee keeper: “I learned to speak German to be able to do in the future a master's degree in Berlin related to renewable energies and water and waste-water technology.” ■ COLOMBIA: Valeria Ayos, 27, Miss Earth Water 2018: “My greatest ambition in life is to become a leader of my community. I want to see all the kids in my country have the opportunity to go to school. So I want to be a minster of education.” ■ FRANCE: Clémence Botino, 24: “I love the arts, especially fashion. French fashion has a global influence. We have so many creatives and designers. The French has this taste—how to look, how to associate the colors. France is the country of fashion.” ■ INDIA: Harnaaz Sandhu, 21: “I want to talk about climate change. We have the power to bring back the world to what it’s supposed to be like. That will be my ultimate goal.” ■ THE PHILIPPINES: Beatrice Luigi Gomez, 26, mass communications scholar, Navy reserve force: “I am very grateful that the Philippines is very supportive of sending an LGBTQ member to represent our country. It’s a big deal because we are here to give positivity and be an inspiration.” ■ PUERTO RICO: Michelle Marie Colón, 21, double major in biology and premed: “One of my favorite words is ‘empathy,’ that’s why I created my foundation C.A.R.E. empowerment program, an organization dedicated to improving women’s access to health care, reducing violence in the community, and encouraging economic growth through education and activism.”
The best beauty deals on 12.12 and beyond
ONE of the things to look forward in the super sale events of e-commerce platforms is the good deals on beauty and personal care products. It is an exercise of one’s EQ to wait for 10.10, 11.11 or, in this case, 12.12 to buy what you want instead of purchasing when the products are launched. So here are the best deals for 12.12, which is not actually
a one-day sale but lasts until December 15. An additional tip for the next such sale: Look for pre-orders on brands, such as Estee Lauder, MAC, Clinique and Bobbi Brown because the deals are really good. I’ve been eyeing the Elizabeth Arden Hyaluronic Acid Ceramide Capsules on Shopee Mall (make sure you go to the Elizabeth Arden Official Store). A bottle of 30 capsules is regularly priced at P4,000 but for 12.12, you get it for P2,170 (46 percent savings) with two 10 ml bottles of the brand’s White Tea Eau de Toilette. Get up to 50-percent off storewide on skin care and fragrances from Elizabeth Arden. The Organique Professional Instant Hair Sanitizer (P140 from P150) is something I’ve been using whenever I go out. We sanitize our clothes and skin so, to me, it makes sense to sanitize our hair. This sanitizer has tree tree oil, castor oil and aloe vera. Meanwhile, the American Crew Gray Shampoo (P850 with free shipping and a gift for 12.12) helps to minimize yellow
tones that gray hair can get due to minerals in the water, impurities in the air, and product buildup. CYNOS Body and Thairapy Morocco Argan Oil (P1,200 with free shipping and 10 percent cashback) is a versatile product for the hair and skin. I don’t use this on my face but on the neck and behind the ears. Check out these products on Shopee Mall (store names are newsummit and American Crew PH) and LazMall Flagship Store (New Summit Colors). Issy and Co. is one of the Filipino brands that made a buzz in the beauty scene in 2021. Their Active Skin Tint is probably one of the best products to have come out this year. On 12.12, Active Skin Tint will be 30-percent off at P349 while the Active Concealer is also at 30-percent off at P279. Meanwhile, the best-selling Hydragloss (which I use as a lip balm) is at Buy 2 Get 1 from 12 am to 2 am on December 12 only. I’m thinking of getting the Sunnies Face Lip Treat in Juice because it’s said to be a dupe of the always sold-out Clinique Almost Lipstick in Black Honey but it’s already out of my budget. So that would have to wait until the next big sale.
■ PARAGUAY: Nadia Ferreira, 22: “I love sports because it releases endorphins and emotions which make me feel strong. I am a polyglot. I speak English, Portuguese, Spanish, and the native Paraguayan language [Guaraní].” ■ SOUTH AFRICA: Lalela Mswane, 24, ballerina and law graduate: “I come from a perspective of empowerment, where we restore a sense of power, of dignity, where I’m building my own table as opposed to waiting for seats to be allocated.” ■ SPAIN: Sarah Loinaz, 23: “Currently I work as an ambassador of the Solidarity Needle Association [Asociación Aguja Solidaria]. I have managed to contribute to the donation of 120,000 materials including clothes, masks and gloves to help combat the Covid-19 pandemic in Spain.” ■ THE BAHAMAS: Chantel O'Brian, 27: “Good character is the standard I would voice. Although circumstances and society may try to perpetuate a different message of self-centeredness, our character should be that of humility, grace and compassion.” ■ THE USA: Elle Smith, 23, broadcast journalist: “For years, I have admired the women in the Miss Universe Organization for their class, intelligence, individuality, charisma and beauty. I am looking forward to the growth that will come throughout this process.” ■ VENEZUELA: Luiseth Materán, 25: “I have a brother with Down Syndrome who is my greatest fan. He has turned me into an outspoken advocate for the protection of his rights to show the world that a brother with Down Syndrome is the same as any sibling.” ■ VIETNAM: Nguyễn Huỳnh Kim Duyên, 25: “I am an ambassador of Vietnam’s Solar Energy Park. This project encourages the Vietnamese to use green energy.” ■
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Macquarie Capital invests in Phil-Tower Consortium Inc.
REX Education and PEAC launch scholarship program for future teachers Edukampyon Iskolar Para Sa Kinabukasan
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EACHING is the profession that teaches all other professions.” Teachers are living vessels of knowledge and of dreams and aspirations of children whose voices fill teachers’ hearts and minds. As such, we recognize that lifelong learners need lifelong teachers—both championing education toward a better future for all. With the desire to fuel hope and inspire action among education champions, REX Education and the Private Education Assistance Committee (PEAC) launched the PEAC–REX Edukampyon Iskolar Para Sa Kinabukasan, a scholarship program that aims to champion, strengthen, and advance teacher education by encouraging the best and brightest learners to pursue the teaching profession.
The challenges
ACCORDING to the 2018 OECD Programme for International Student
Assessment (PISA) results, Filipino students ranked the lowest among 79 countries in mathematics, science, and reading, with over 80% of students not reaching the minimum level of proficiency in reading. The Southeast Asia Primary Learning Metrics (SEA-PLM) also found that in 2019, at least 83% of Grade 5 students scored below reading and mathematics standards expected for end of primary schooling. According to the World Bank Philippines Report 2021: “Improving teacher quality in schools will mean attracting and selecting the best candidates into the teaching profession. To strengthen teacher quality, [we] should begin from selecting the right people into the profession. Policies in teacher recruitment and hiring should be aimed at increasing the attractiveness of the career, such as incentivizing high achievers to pursue teacher training and eventually enter into the profession.”
THE scholarship program rings true to REX Education’s Edukampyon advocacy: to rally every Filipino to champion education so that every learner is healthy, safe, engaged, supported, challenged, and valuesoriented. “Teaching is a profession that has the power and influence to inspire the grooming of the greatest artists, doctors, and innovators. So, it is essential as Edukampyons to look into how we can advance and strengthen the quality of teachers and instructors… from basic education to the tertiary level. We seek for the best and the brightest to work with us, commit to the profession, and start creating a rippled effect as we enhance teachers’ quality today. This small act that we are doing in the present can have a great impact on all of our futures,” said Don Timothy Buhain, chief executive officer of REX Education. Students can apply for the program through their respective schools; while schools can nominate their top students for the scholarship, to encourage good-standing students to pursue Teacher Education for their tertiary education. By school year 2022–2023, 50 of the best and brightest freshmen will be selected across four basic education specializations: Mathematics, Biology, Chemistry, and Physics. Those admitted to the program will not only enjoy living and technologysupport allowances; they will also receive the best training from partner COEs and CODs across the country and bear the pride and responsibility to give back and advance the community.
Empire East, community pantry partner for gift-giving in New Manila
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HE “Community Pantry sa New Manila” reopens at the Broadway Centrum where hundreds of beneficiaries, affected by the onslaught of the COVID-19 pandemic, received gift packages from employee-volunteers of Empire East. This initiative was made possible through a fund-raising raffle event where proceeds were used to buy staple food products for the traditional Noche Buena, bringing hope and joy to deprived families amidst the lingering health crisis. Tayo Tayo, which translates to “let’s stand together,” is a group of neighbors in New Manila who organized a community pantry inspired by Maginhawa and Quezon City. Since April this year, hundreds of beneficiaries have been queueing in the pantry for each day it operates, where they can get their share of rice, vegetables, canned goods, and other food products. What started to be an initiative of neighboring private individuals and families expanded into a larger effort, where various NGOs and private companies, and volunteers who are not residents from New Manila, extended their support. Empire East has nearby condominium projects and a sales office in the location of the Community Pantry sa New Manila. For that reason, employees have been individually donating goods for the outreach project even during the first few months of its operation. This time, the company made a collective effort to help underprivileged families by sponsoring a gift-giving through a “Christmas Pantry.”
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ACQUARIE Capital, the advisory, capital markets and principal investment arm of Macquarie Group, announced the financial close of its investment in Phil-Tower Consortium Inc. (PhilTower), one of the fastest-growing independent tower companies in the Philippines. PhilTower is a shared digital infrastructure provider, enabling mobile network operators to rapidly and cost effectively expand their network coverage and meet growing demands for 4G and 5G services. With over 15 years of commitment to the Philippines, Macquarie Capital is one of the leading M&A and public-private partnership advisors in the Philippines with over $US20 billion in deals executed, with a growing focus on digital infrastructure investments. Through PhilTower, Macquarie Capital aims to facilitate the development of telecommunication infrastructure in the Philippines to enhance connectivity and mobility for local mobile users. Ivan Varughese, Senior Managing Director, Macquarie Capital, said: “We are excited to work with PhilTower’s highly experienced management team and look forward to supporting PhilTower as it responds to the growing infrastructure and connectivity needs of the Philippines.”
Devid Gubiani, President of PhilTower, said: “With Macquarie Capital’s investment, we will increase the momentum of our aggressive roll out as well as expand geographically. We are very bullish on the growth potential of the shared infrastructure industry and we continue to support the DICT’s vision for a connected Philippines. PhilTower is very proud to be at the forefront of nation building initiatives that will improve the lives of Filipinos.” PhilTower is currently rolling out more than 1,000 sites across the Philippines for the mobile operators. Macquarie Capital currently has over $US25 billion of infrastructure projects under construction or development and is an industry leader across transportation, social, communications, renewable energy, and conventional energy infrastructure.
Nobi Pro provides an all-in-one online business solution
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ITH the easing of movement restrictions and opening up of many businesses in the hope for economic recovery, it is just timely for business solutions to be available for everyone especially for the Small and medium-sized enterprises (SMEs) owners. The day the pandemic struck, people were confused, scared, and worried. Even established businesses started shutting down because of the uncertainty of the situation. But many people, including those in the entertainment industry, tried and ventured into online selling. Many Filipino entrepreneurs managed to adapt to the situation and accepted the disruption in their business processes: FaceBook has become the mobile store with delivery services the in demand choice. Today, small business owners found an ally to growing their businesses—Nobi, an e-commerce platform that provides an outstanding advantage in the market in terms of customer care and marketing. With Nobi, entrepreneurs simply have to bank on simple process of knowing what their customer needs: “Listen – Understand – Satisfy”, to make sure they are confident in their services. Actress/host Dianne Medina, whose husband Rodjun Cruz and his business partners are currently enjoying growth because of Nobi, facilitated the recent media launch of Nobi in the Philippines.
The Nobi eCRM
NOBI eCRM is a comprehensive optimization solution for businesses. An “All in One” solution for online businesses, which includes sales administration, marketing, bill of lading, and CRM. It helps replace all redundant and inefficient employees at the workplace in just one click. Nobi seamlessly loops all of your operating software systems to ease the process and manage the changes properly. Thus, it give business owners a higher rate of success in the delivery of service and minimize the situation of refunds. Nobi approaches customers through every channel that you have such as Facebook, sms, email, call center, app. Users can easily up-sell, cross-sell and take care of customers automatically and personalize according to customer behavior. Nobi helps your business save manpower, time, and money in placing an order, tracking orders, and checking the warehouse in the most optimal way. By December 2025, Nobi intends to serve 100,000 customers and by 2030 reach the milestone of 1,000,000 satisfied customers. Nobi is composed of talented young leaders who dedicated their careers to creating an ecosystem connecting to the online business market: Nguyen Kim Cuong, Founder and CEO; Phan Nhu Than, Founder and CTOM; and Donnie Chu, Founder and CSO. For more information, email: cs@nobi.pro or call hotline: +63 997 337 7963.
Concepcion initiates talks to secure boosters for 2022
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BRGY. VALENCIA, Quezon City’s beneficiary families recently received Noche Buena packages worth a total of Php100,000 raised by the employees of property developer Empire East, which were given away via the longestrunning ‘Community Pantry sa New Manila.’ The gift-giving ceremony took place on December 7 at the Broadway Centrum located Aurora Boulevard, Quezon City. Aside from its world-class residential communities in key cities of Metro Manila, Rizal, and Laguna, Empire East has been constantly lauded for its innovative CSR projects under the “Empire East Cares” arm. In addition,
its employee-initiated pocket CSR programs reaching out to young students, displaced families, indigenous communities, and other disadvantaged sectors of society have been commended and recognized over the years.
N a meeting organized by Go Negosyo as part of its nationwide vaccination initiatives, more than 350 companies from the private sector met with officials of AstraZeneca to streamline initial plans to procure COVID-19 vaccines for 2022. This as many countries in the world are racing to secure more vaccines as variants of the virus are making it necessary to supplement the initial doses administered. During the meeting held last December 9, Presidential Adviser for Entrepreneurship and Go Negosyo founder Joey Concepcion shared that the private sector has been given the go-ahead by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) to procure AstraZeneca vaccines in 2022. AstraZeneca is set to complete its delivery of the vaccines by December 27 procured under the tripartite agreement of the A Dose of Hope program. Under the new agreement now being arranged with the vaccine manufacturer, there will be a slight increase in the cost for the doses, but the price will already include shipping. Moreover, AstraZeneca will no longer be requiring payment up front or a security deposit. AstraZeneca also revealed that it is now working on an updated version of its vaccine, called AZD2816, to address the variants strains of the SARS-CoV2 virus. The AZD2816 still uses the same adenoviral vector platform, but now contains ten changes across the spike protein, many of which are also seen in other variants of concern. The new version can also be used as a primary dose. Concepcion said foresight and a pro-active stance are now resulting in historic lows in the number of COVID cases in the country. The same foresight, he said, can serve well in securing vaccines for 2022. “Things will
change. That’s why we need to VAX to the MAX or else our family bubbles and our business bubbles will weaken,” he said, saying that the country needs to secure its booster jabs for the second half of 2022. On November 27, 2020, the private sector, led by Concepcion, entered into a tripartite agreement with the national government and vaccine manufacturers to procure COVID-19 vaccines. The agreement secured for the country 17 million doses of AstraZeneca vaccines, half of which were to be donated to local government units. Concepcion said that the complete delivery of the vaccines from the tripartite agreement by yearend are sufficient to fulfill the country’s vaccine needs for the first half of 2022, and that the change in the timing of the deliveries worked in the country’s favor because these can now be used for the booster shots. AstraZeneca Country President Lotis Ramin said that the private sector can choose to switch their orders to the new vaccine variant, but emphasized that the orders have to be received as early as possible in order to assure supply. AstraZeneca has indicated that many other countries are already starting to secure vaccines for 2022. Concepcion also pointed out that a transition in government by mid-year as a result of the 2022 national elections might affect the country’s pandemic response and this might necessitate a more pro-active stance in current plans. “The efforts of the private sector, with the support of the IATF, has led us to this place,” said Concepcion. “Foresight was really important,” said Concepcion. “Business has bounced back to 70 to 80 percent prepandemic levels, andI am confident; we already have a plan in place,” he said.
mirror_sports@yahoo.com.ph | Editor: Jun Lomibao By Josef Ramos
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ORLD Boxing Council (WBC) bantamweight champion Nonito “The Filipino Flash” Donaire Jr. showed compatriot and challenger Reymart Gaballo on Sunday what it’s like to fight at the world-title level despite his age. Oozing with confidence and unleashing tremendous body shots, the 39-year-old Donaire blasted the 25-year-old Gaballo with a killer body shot in the left kidney for a fourth-round knockout victory to defend his belt at the Dignity Health Park in Carson City, California, on Sunday. Donaire, who improved to 42-6 win-loss record with 28 knockouts, bombarded Gaballo with a flurry of punches to the head in the third round and early fourth that allowed the boxer from Sanman Promotions of JC Mananquil to put his guard up that left his body open. Donaire didn’t let the opportunity go and unleashed the finishing left hook in the fourth round, dropping Gaballo to his knees and forcing referee Ray Corona to make the mandatory count. Gaballo stood but went down again after feeling the pain. The time was two minutes and 59 seconds of the fourth round. “He [Gaballo] came out differently than I thought he would. He tried to nullify my left hook, but I just had to have no mercy,” said Donaire, noting that his corner composed of his wife Rachel and father Nonito Sr. urged him to “go to the body.” “I had to set it up by bouncing up and down to open up that shot. He didn’t expect that left hook to the body after I was throwing the right hand in the early rounds.”
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DONAIRE KAYOES FOE IN 4TH ROUND
Donaire, the oldest 118-pound world champion, said. “I thought he was going to get up because I knew he has a lot of heart, but that was a tremendous punch.” It was the same signature left hook that Donaire used in dethroning erstwhile WBC champion Nordine Oubaali last May, winning the belt also with a fourth round knockout but with his punch targeting the Frenchman’s head. Donaire immediately comforted Gaballo, who suffered his first defeat in 25 fights with 20 knockouts, after the bout. “I just told him after the fight not to be down. Because he’s a great fighter. I had trouble figuring him out and I’m here to help him with anything he needs the rest of his career,” said the four-division champion, who is now gunning for a rematch with unified world champion Naoya Inoue of Japan next year. The International Boxing Federation (IBF) and World Boxing Association bantamweight champion defeated Donaire in Japan via unanimous decision in November 2019. Former world champion Marlon Tapales (35-3 with 18 knockouts) scored a second-round knockout win over Japanese Hiroaki Teshigawara (22-3-2 record with 15 knockouts) in their IBF
Beermen escape past Batang Pier for first victory
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NONITO “THE FILIPINO FLASH” DONAIRE JR. gives compatriot Reymart Gaballo a lesson or two in big time boxing. JHAY OH TAMIAS super bantamweight world title eliminator also on Sunday. At the Coca-Cola Arena in Dubai, Donnie Nietes and Dominican Republic’s Norbelto Jimenez settled for a split draw in their super flyweight bout after two judges gave each fighter a 96-94 score and the
third judge 95-all for the draw. Nietes kept his World Boxing Organization (WBO) international title though. Jayson Mama, however, was unfortunate as he lost to reigning champion Sunny Edwards of Great Britain in an IBF flyweight title fight.
WBO bantamweight champion Johnriel Casimero, meanwhile, was given a 10-day show cause order by the WBO to explain why he shouldn’t be stripped of his belt. His camp claimed that he suffered from gastritis and was forced to withdraw from his fight with Englishman Paul Butler.
Malixi leads amateurs’ campaign at ladies tour’s Midlands Classic
Caballero retires from national team to focus on naval career
IANNE MALIXI hopes to provide a stiff challenge to a slew of pros bracing for a fierce showdown in the International Container Terminal Services Inc. (ICTSI) Midlands Classic unfolding on Tuesday with the top amateur seeking no less
ELCAH JEN CABALLERO won’t be around to defend her two gold medals in rowing at the Hanoi 31st Southeast Asian Games in May 2022 after she preferred to retire from the national team to focus on her career at the Philippine Navy. The 25-year-old Caballero, a Seaman Second Class, won gold medals in women’s lightweight single sculls and doubles sculls with Joanie Delgaco at the 2019 30th SEA Games in Subic. “Every stroke opened different chapters of my life to which I can say that I have now reached the shore,” Caballero wrote in her resignation letter to Philippine Rowing Association President Patrick “Pato” Gregorio. “Just
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RIANNE MALIXI is only 14 but she packs potentials against the pros.
than a podium finish in the seasonending event of the Ladies Philippine Golf Tour (LPGT). The 14-year-old rising star is coming off a series of stints in the US and elsewhere, including a pro tournament in Florida, making her A-ready to slug it out with the likes of Harmie Constantino, Sunshine Baraquiel, Chanelle Avaricio and Daniella Uy for a crack at a first pro crown on a course that changes in character in every swirl of the wind. Malixi, the 2020 national stroke play champion who scored a wire-to-wire triumph in the Se Ri Pak Desert Junior of the AJGA (American Junior Golf Association), reached the Round of 32 in the US Girls’ Junior and made it to the Last 16 in the US Women’s Amateur. She also placed joint 23rd in the Women’s Amateur Asia-Pacific in Abu Dhabi, put up a Top 10 finish in the Rolex Tournament of Champions and reached the quarters of the PXG Women’s Match Play of the Women’s All Pro Tour. Malixi is also tipped to dominate the battle for low amateur trophy in the absence of Mafy Singson, who swept the last four titles but opted to skip the season-finale to take the holiday break in Davao, and Eagle Ridge-Norman leg winner Arnie Taguines, who is indisposed.
That Azkals’ victory against Timor Leste THE men’s national team seized control of their destiny in the 2021 Suzuki Cup following a 7-0 thrashing of Timor Leste. That thrashing has been the biggest score thus far in this tournament. The last time the Philippines put that many in the back of the net was also against Timor Leste during the 2007 qualifications (November 12, 2006, at
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like the old saying goes, ‘every beginning has its end,’ I have finally reached the end of the tunnel and would like to pursue the other story of my career.” She said the decision to retire at peak of her athletic career was a difficult decision to make. “I concluded that now is the right time for me to focus on my naval career advancement and to take the chance to apply as a military officer,” she said. “By this, I would like to inform you [Gregorio] of my intention to retire as an athlete of the Philippine Rowing Association effective December 1, 2021.” The PRA accepted her retirement with a heavy heart. Caballero is a cinch to repeat as gold medalists in both events in Hanoi and could be a medal potential in Huangzhou.
Ando settles for 5th place in worlds RUSSIAN STYLE A model displays
the Olympic uniforms for Russian athletes in Moscow on Friday. Russia presents its Olympic kit for the Beijing Winter Olympics in February 2022, which shouldn’t depict any symbols of the country. Russian athletes are competing in the Olympics as neutral after the Court of Arbitration for Sport last December banned Russia from using its name, flag and anthem at any major international competition because of state-backed doping. AP
Panaad Stadium) with Phil Younghusband scoring four goals with Chris Greatwich, Ariel Zerrudo and Chieffy Caligdong adding one of their own. The single worst beating any team took with the losing team unable to score was 8-0 with Thailand rolling all over Timor Leste on December 12, 2004, at the Gelora Bung Karno Stadium in Jakarta. Here are our takeaways from that huge win: The 7-0 win put the Philippines in a position to advance. Right now, the Philippines sits in third spot of Group A with a 1-1 record and three points and plus-six in terms of goal difference. Thailand and Singapore are both 2-0 with six points each although the former is atop the standings with a plussix goal difference to the latter’s plus-four. Thailand has only played the bottom two squads of Group A in Myanmar and Timor Leste. Their next opponent is the Philippines and lastly, Singapore. If the Philippines can get a favorable result against Thailand and then crush Myanmar, the final group stage opponent, they could advance. Providing of course, Singapore also gets a favorable result against Thailand. The Azkals’ win placed pressure on Thailand You can be sure Thailand was keeping tabs on the
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LYMPIAN Erleen Anne Ando groped in her new weight class of 59 kgs to settle for fifth place in the International Weightlifting Federation World Championships at the Uzbekistan Sports Complex in Tashkent over the weekend. Ando lifted 98 kg best in the snatch and 116 kg in the clean and jerk for a total of 214 kg kgs in the category Tokyo Olympics gold medalist and world record holder Taiwanese Kuo Hsing Chun ruled with gold medal lifts of 230 kgs in total lift and 130 kgs in clean and jerk and silver medal of 100 kgs in the snatch. “There’s nothing to be ashamed about Ando’s
Philippines-Timor Leste match as they took on Myanmar immediately after. They knew they needed to score goals to make things less uncomplicated. Thus, they crushed Myanmar, 4-nil. The War Elephants, too, control their destiny so they need favorable results against the Philippines next Tuesday (December 14) and Singapore (December 18). Just as the Singapore-Philippines match was crucial for both sides, the Philippines-Thailand game will decide who will advance to the next round. Which team will have more pressure (either the Philippines or Thailand) is irrelevant. There is something at stake for both. Weakened or not, the Azkals do not come here to get eliminated. They like to keep that semifinals appearances going. The match saw a lot of contributions from a lot of players Martin Steuble opened scoring for the Philippines with screamer from outside the box. Granted Timor Leste’s Aderito Fernandes could have done better and kept out a couple of attempts, but probably not Steuble’s shot. On that shot went in, the ice was broken and the Philippines moved forward with a lot more confidence. Seven different players scored—Steuble, Amin Nazaro who scored his second goal of the tournament, Angel
AN MIGUEL Beer almost squandered a huge 27-point advantage before escaping with a 91-88 victory over a luckless and import-less NorthPort squad in the Philippine Basketball Association Governors’ Cup on Sunday at the Ynares Sports Arena in Pasig City. Import Brandon Brown opened the game on a high note by scoring half of his 24 points in the first period. He also hauled down in 12 rebounds, seven assists and two steals for the Beermen who made the win column finally after losing their first two outings. The Beermen held their ground in the final minute mark with Brown hitting two charities for a 91-85 cushion before the Batang Pier cut the gap to 88-91 behind the split free throw of Jamie Malonzo and two free throws of Robert Bolick with 27 seconds remaining. CJ Perez missed on a drive on San Miguel Beer’s offensive but Bolick missed a potential gametying three-pointer and rookie Jamie Malonzo’s attempt was off the mark sending NorthPort reeling to its third straight loss. “After two losses, it’s a wakeup call for us and I’m so lucky that the players, after a lengthy talk, they responded well especially in the first three quarters,” San Miguel Beer coach Leo Austria said. “But the players were a little bit relaxed in the endgame, that’s why we lost the first two games.” Perez and June Mar Fajardo finished with 15 points and seven rebounds each, while Marcio Lassiter hade 12 points and Vic Manuel made 10 points to lead the Beermen. “I am thankful to my teammates for trusting me despite my struggle in the first two games,” said Perez, who went 7-of-12 from the field this time, better than his seven-point production in their 94-99 loss to Alaska last Friday and 11-points output in their 102-114 setback to NLEX in Wednesday’s opener. Arwind Santos had 23 points and 11 rebounds against his former team, while Malonzo finished with a career-high 22 points, 13 rebounds and four steals. Greg Slaughter added 10 points and 10 rebounds. NorthPort import Cameron Forte was out with a leg injury. Josef Ramos
performance, she did her best in the new category and we’re adjusting,” national team coach Christopher Bureros told BusinessMirror on Sunday. The 23-year-old Ando transitioned from 64 kgs where she competed in at the Tokyo Olympics to 59 kgs. “Being in the top five is not bad at all, it’s a very good performance,” Bureros said. Yenny Alvarez of Colombia got the silver for lifting a total of 226 kgs, while Russian Olga Te clinched bronze with 218 kgs. Ukrainian Mariia Hanhur was fourth with 215 kgs. Josef Ramos
Guirado, Patrick Reichelt, Jesper Nyholm, Bienvenido Maranon and Kevin Ingreso. That gives a lot of confidence to a lot of people. And once more, Kevin Hansen was solid. You have to like his poise, command and ball distribution (not that he needed to do much). I like that the coaching staff sat down many of the starters for the second half to give them more rest and to prevent any injuries. Maranon and Guirado got untracked. It is always important for your strikers to get some goals. That emboldens them more so with Thailand coming up. Maranon’s strike was resolute and powerful while Guirado’s header was sublime. Bienve got his first goal for the Philippines while Guirado notched his first in this 2021 edition and his second in this tournament (after he got his first in 2012). In a way, it was a belated birthday gift for Guirado who celebrated his birthday last December 9. Now, Thailand will pay more attention to them and that will open up the game for the other Azkals. The Philippines hasn’t beaten Thailand in this competition. It is obvious Thailand is favored but the Azkals…well, they relish being the underdog.
ExecutiveViews BusinessMirror
B8 Monday, December 13, 2021 | www.businessmirror.com.ph
By Anne Ruth Dela Cruz
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E is running for his third and last term as Mayor of the City of Biñan in 2022 and if he succeeds, and all indications show that he will, Walfredo “Arman” Dimaguila Jr. will concentrate on promoting the city and the local economy. He pointed out that he had achieved “sustainable urbanization and heritage conservation” in Biñan and almost all of the city’s priority infrastructure projects, including those that started just prior to the pandemic, have either been completed or nearing completion. Biñan residents have already started to enjoy the benefits brought about by these projects. “This time, I would like to focus on promoting our city and the local economy. The pandemic has been a big challenge to our workers and small business owners. I would like to help them start and build anew here in our city,” Dimaguila said. Dimaguila has come a long way from his humble beginnings. Born to Walfredo Dimaguila Sr., the former municipal electrician of Biñan and Feliciana Reyes, a full time housewife who does laundry to earn a living, Dimaguila is the sixth of 10 children.
Extra allowance
WHEN he was in elementary school, he would sell boiled bananas and bread so that he would have extra allowance. In high school, he would be paid to look after vacant lots. When he got home at night, he would turnover his day’s earnings to his mother. “My mother is a laundrywoman so when she had laundry to do, I would help her by pumping the well so that she could finish the laundry quickly. When I was done with this task, I would have time to play with my friends. We lived near the fields and the lake and we would play catch, patintero and luksong baka,” he recalled. “We had a very difficult life. We had to work hard and be diligent. My father was the municipal electrician and he would always tell me and my siblings to study hard. We were told to study so that we would have a better future,” Dimaguila added. There were times when he would accompany his father to the municipal hall and during those times he would earn extra by helping out those who tended the photocopying machines. While there, he would see the local government officials come and go to carry our their duties and responsibilities to their constituents. It was this experience of “working” at the municipal hall that made Dimaguila decide that he wanted to enter politics in the future. “When I was young, I already knew that I would go into politics. We were not well-off but I was able to win the Sangguniang Kabataan (SK) elections as the SK Chairman in our barangay. One of my favorite projects then was the youth scholarship grants. I extended financial assistance and gave school supplies to the scholars at the start of the school year,” Dimaguila said.
Most outstanding youth
DUE to his hard work, Dimaguila was named San Luis Most Outstanding Youth in the Province of Laguna in 1993. He achieved this while he was pursuing his dream of becoming a lawyer. “I didn’t go to college immediately after graduating from high school. We had no money and my father had to go abroad to work. He earned US$150 a month, the equivalent of P3,300 at that time. However, we were 10 in the family so I had to wait for my turn,” he said. He was determined to succeed in his goal and decided to go to Manila. There, he found work as a utility man and security guard. He worked during the day and studied at night. His perseverance eventually paid off and he graduated cum laude in Political Science from the Lyceum of the Philippines University. He then worked as a tax specialist at the National Tax Research Center during the day and attended classes at Lyceum’s College of Law at night. “When I graduated from the College of Law in 1998 and passed the bar exam, I immediately practiced my profession. I also worked as a college professor in some colleges and universities in Biñan where I taught economics, business law and taxation,” he said.
Entering the political fray
AT THE urging of then Biñan Mayor Arthur Alonte, Dimaguila joined the political fray and won a seat in Biñan’s municipal council in 2001, placing eight in the elections. As a councilor he authored an ordinance for a scholarship program that benefitted Biñan’s poor but deserving students. Aside from the scholarship programs, Dimaguila initiated the establishment of the Polytechnic University of the Philippines Binan Campus, the fullfillment of one of his dreams. In an interview with Philippines Graphic in 2018, Dimaguila regards education as the “great equalizer.”
“I’ve seen it then that if I didn’t do anything about poverty, it will be bequeathed to me by my parents, poverty that they inherited from their parents. And it will be a poverty that I will in turn pass on to my children. Poverty is a cycle. And the only way to break this cycle is through education,” he said. He remembered an instance when he accompanied his mother to a wedding. “She was godmother to the bride and groom. But when she had to sign in the marriage contract, I had to show my mother where she needed to sign. That was the only time I learned that she could barely read and write. She told me later that it was the reason why she always insisted that we study hard.”
Serbisyong Arman
WHILE he was councilor, Dimaguila also started “Serbisyong Arman” where he offered free notarial services and free legal advice to his constituents. He also spearheaded the creation of the Health Assistance Program for Indigents (HAPI) Family Card, the Magna Carta for Senior Citizens and for Persons with Disabilities among his flagship programs. It was through “Serbisyong Arman” that Dimaguila became a familiar and popular personality in Biñan. By creating Serbisyong Arman Rescue Group, the city’s residents received assistance for accidents, fires, flooding, evacuations and other calamities. There were times when Dimaguila himself would take part in the programs. In 2010, Dimaguila ran and was elected vice mayor. As vice mayor, Dimaguila focused on strengthening the legislative procedures of the City Council and attending to Biñan’s drug dependents and prisoners. Thanks to his accomplishments and achievements, Dimaguila was tapped to run for mayor in the 2016 elections. He won and replaced Marlyn “Len” Alonte-Naguiat who is currently the Representative for the Lone District of Biñan. He spent his first three years in office coming up with projects that would transform Biñan from a provincial, agricultural town into a rapidly industrializing and modern city. The unique development plan sought to combine the new with the old – a plan that embraced economic progress, even as it is consciously sought to preserve and promote much of Biñan City’s rich cultural and historical heritage.
Multi-awarded city
THANKS to his leadership and good working relationship with Vice Mayor Angelo “Gel” Alonte and Rep. Alonte-Naguiat, Biñan chalked up a number of awards including No. 1 most improved city in the province of Laguna; No. 1 in infrastructure; No. 5 in economic dynamism; No. 9 most improved local government unit and in overall competititivess; No. 13 in government efficiency and no. 17 in resiliency. As mayor, Dimaguila was named Most Outstanding Mayor of 2020 by Superbrands Philippines and Back-to-back Most Outstanding City Mayor in the Field of Social Welfare and Development under Component Cities Category by the Association of Local Social Welfare and Development Officers (ALSWDOPI). The other awards that Binan received under the leadership of Dimaguila include 1st place Manila Bayani Awards and Incentives; One of the Highly Functional LGUs during the 2019 and 2020 ADAC Performance Audit Achievement and 3rd Seal of Good Local Governance. Like the rest of the country, Biñan was affected by the Covid-19 pandemic. But even before the lockdown was declared, Dimaguila already called for a meeting with Rep. Alonte-Naguiat, Vice Mayor Alonte, city council and barangay officials to discuss measures that would lessen the impact of the pandemic. “Despite the economic challenges brought about by the pandemic, the city government was still able to push through with our infrastructure projects. We cannot slow down just because of this pandemic. We need to maximize our resources and assure our people that this pandemic will not stop the local government from bringing quality service and projects to its people,” Dimaguila said. To date, Biñan has been able to vaccinate the majority of its adult population and almost all of those in the 12 to 17 age group. At the height of the pandemic, the city government went house to house to deliver government assistance to their constituents. “I am a straightforward person. I do not like delays. I want everything to move fast. Maybe that’s why the people of Biñan tagged me as their ‘Action Man.” I do not waste any time and I want everything done right away. And I believe that our awards from the national government will speak for me, my management style and governance,” he said. When asked what else he wants to achieve for Biñan. Dimaguila said he still wants to do more. “There is still so much to be done for the city and in the city. It will probably be a while before I retire from politics,” he said.
BINAN CITY’S
Action Man