BusinessMirror December 14, 2020

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Monday, December 14, 2020 Vol. 16 No. 67

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IN 2021—BSP SURVEY ‘COVID RESTRICTIONS TO CURB HOOPLA, BUT NOT POLL SPENDING’

By Cai U. Ordinario @caiordinario

M

OBILITY restrictions may limit the usual fanfare seen during elections, but this will not crimp election spending, which could give the economy a boost starting next year, according to local experts.

Election spending, they said, will be driven by the creativity of politicians in their bid to win the votes of their constituents in the 2022 polls.

Many politicians, for instance, could spend more on social media and even traditional media because of the limitations in mobility, Ateneo de Manila University School of

Churchgoers observe physical distancing as they attend Sunday mass outside the Manila Cathedral in Intramuros, Manila. As part of the slow, cautious return to normalcy, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases has allowed religious gatherings in areas under general community quarantine as long as these fill up only up to 30 percent of venues’ capacity. ROY DOMINGO

A

By Bianca Cuaresma

@BcuaresmaBM

FTER a record-high unemployment rate at the height of the pandemicinduced lockdowns, Filipinos should expect more job opportunities at the opening of next year, as more firms indicated willingness to start increasing their employment size in the first quarter of 2021.

See “Firms,” A2

PESO exchange rates n US 48.0670

Government Dean Ronald U. Mendoza told the BusinessMirror in an e-mail.

“Election-related spending typically gives the economy a slight boost, as some sectors, including SMEs, may benefit from the increased spending.

It is not yet clear how this will matter under a pandemic situation—as typical spending on campaign materials may not be seen as effective when there is far less mobility,” Mendoza said.

“Hence some types of spending—such as social media, radio and television campaigning —might be even more popular, considering that most are still immobile under the pandemic,” he added.

Continued on A5

10-month debt payments nearly twice 2019’s–BTr

By Bernadette D. Nicolas

G

@BNicolasBM

OVERNMENT’S debt payments from January to October nearly doubled this year compared to the same period in 2019.

Data from the Bureau of the Treasury showed the government’s debt service bill for the 10-month period ballooning to P1.16 trillion from P583.42 billion in the comparable period a year ago.

This was already above government’s programmed debt service this year at 1.005 trillion. In 2019, government’s debt payments only amounted to P842.449 billion.

For the January-to-October period, amortization tripled to P826.86 billion from only P268.955 billion a year ago while interest payments rose to P335.044 billion, which is 6.54 percent higher than last year’s P314.465 billion.

Continued on A4

A set of Nativity figurines made of plastic resin, selling for P2000 per set, is on display in a shop in Dapitan, Manila. The vendor reported a decline in sales this pandemic year, as the government struggles to rev up an economy battered by what is called the world’s longest virus-induced lockdown. NONIE REYES

n japan 0.4613 n UK 63.9099 n HK 6.2013 n CHINA 7.3431 n singapore 35.9998 n australia 36.2089 n EU 58.3533 n SAUDI arabia 12.8158

Source: BSP (December 11, 2020)

News

BusinessMirror

A2 Monday, December 14, 2020

Serial failures in global tests flag PHL ‘crisis in education’

By Claudeth Mocon-Ciriaco Correspondent

T

HE serial “flunking” of Filipino learners in several international academic examinations shows the “sudden death” of education in the country, according to the Federation of Associations of Private School Administrators (Fapsa).

“And all of us are guilty,” admitted Fapsa President Eleazardo Kasilag in a statement at the weekend.

Kasilag added, “It is maxima culpa from poor supervision of education committees in both houses in Congress to the dismal management of the DepEd. This is even extended to the lackadaisical as well as to unmotivated classroom processing of both public and Fapsa private schools teachers and administrators.”

The Philippines lagged behind counterparts from 57 countries with the lowest score of 297 in Mathematics and 249 in Science in the Trends in International Mathematics and Science Study (TIMSS) in 2019 for Grade 4 Filipino learners.

Also, the country attained just minimum proficiency in reading, writing, and mathematics in the Southeast Asia Primary Learning Metrics (SEA-PLM) 2019 for Grade 5 learners.

Filipino students also fared poorly in the 2018 Programme for International Student Assessment (Pisa), a computer-based test that measures the performance of 15-year-old students in math, science and reading, conducted by the Organization for Economic Co-operation and Development (OECD) countries. The Philippines scored 353 in Mathematics, 357 in Science, and 340 in Reading—all below the average of participating countries.

Teachers

Kasilag, meanwhile, also cited the dismal passing rate in the Licensure Examination for Teachers: out of 386,840 examinees in 2019, only 147,353 passed while 239,487 examinees failed; and the average passing rate was only 30 percent over an 11-year period. There were 445 schools with a zero passing rate in September 2019 LET. While the country is set to join another round of Pisa in 2022, Fapsa describes this as “baloney.”“It’s like a boxer, having lost all rounds—beaten black and blue—and still, his trainer schedules him again in the next fight, hoping to deliver a lucky punch,” Kasilag said.

“Here, Fapsa humbly asks, what happens to ‘Sulong Edukalidad?’ I know there are several issues we need to address, but Fapsa moves that congestion inside the classroom has to be prioritized aside from teachers’ upskilling and reskilling,”he said.

DepEd’s, Win’s take Earlier, DepEd welcomed the insights of the TIMSS 2019 results, and Pisa SEAPLM 2019.

“Our participation or re-participation in these international assessments indicates a step forward towards addressing curriculum and learning gaps in the country’s basic education,” the DepEd said.

For Senator Sherwin Gatchalian, the serial failures indicate a major crisis in the country’s basic education system that will not be resolved by “business as usual.”

“This is a major crisis. The country has been participating in global assessments as an additional tool to measure the effectiveness of the basic education curriculum. The dismal result for the third time is so depressing and should serve as a wake-up call,” Gatchalian said in a statement.

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Cancer patients have ₧600-M aid in 2021 budget–Velasco

C

ANCER patients may soon be able to access affordable health-care services as Congress has allocated P620 million in the P4.506-trillion national budget for 2021 to fund the government’s cancer control program.

In a statement, House Speaker Lord Allan Velasco lauded the inclusion of the funding in the final version of the 2021 budget.

The allocated fund, Velasco explained, will bankroll the Department of Health’s programs on cancer prevention, treatment and medicines as mandated by Republic Act 11215 or the National Integrated Cancer Control (NICC) Act of 2019.

“With this funding, the government can now provide cancer patients with better access to more responsive

and affordable health-care services,” Velasco said on Sunday.

Velasco and the House contingent to the bicameral conference committee earlier vowed to ensure there would be enough funds in the 2021 national budget to assist cancer patients.

The House contingent is led by ACT-CIS Party-list Rep. Eric Yap and Davao City 1st District Rep. Paolo Duterte.

Based on the 2018 Department of Health Data, around 110,000

new cancer cases are diagnosed annually and the death toll from cancer for both adults and children is about 66,000 Filipinos per year, Velasco said.

Velasco added that “raising the budget for cancer assistance will reduce the mortality, especially for poor patients.”

Citing the Cancer Coalition Philippines, Velasco said a breast ultrasound—which is but one of many tests for breast cancer— could range from P600 to as high as P3,000 depending on the hospital.

A colonoscopy could cost from P1,500 to around P14,000 exclusive of professional fees. Depending on the type of cancer, he said the chemotherapy cost per session can range from P20,000 to P120,000 or more.

“Certainly, the economic burden of cancer care and treatment is overwhelming and it has the potential to drive Filipino families deeper into poverty,” Velasco said.

The NICC Act, signed into law

by President Duterte in February

2019, establishes a National Integrated Cancer Control Program to serve as the framework for all cancer-related activities of the government.

“The program aims to decrease the overall mortality and impact of all adult and childhood cancer; lessen the incidence of preventable cancer in adults and children; and prevent cancer recurrence, metastasis and secondary cancer among survivors and people living with cancer,” Velasco said.

“It also seeks to provide timely access to optimal cancer treatment and care for all cancer patients; make cancer treatment and care more affordable and accessible; improve the experience of cancer treatment and care of patients and families; support the recovery and reintegration into society of the cancer survivors; and eliminate various forms of burden on patients, people living with cancer, survivors and their families,” Velasco added. Jasper Emmanuel Y. Arcalas

Christmas looking sparkly for Metro Manila’s hotels

By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

A

NUMBER of hotels, especially those in the bayside and Pasay areas, appear

to be benefitting from government’s decision to allow balikbayans (homecoming Filipinos) to return home despite Covid-19 playing out all over the world.

This was the assessment of Christine Anne U. Ibarreta, president of the Hotel Sales and Marketing Association Inc. (HSMA): “Christmas is looking hopeful and our hotel [Golden Phoenix], as well as the Pasay hotels are picking up some balikbayan bookings headed for quarantine and staycation later on.”

She cited Manila Marriott, for instance, which reported balikbayan bookings rising to “an average of 8-10 guests from 1-2 guests per day.”

For her hotel, Golden Phoenix, “since December 9, we have been receiving an average of 8-10 arrivals daily, while new bookings for balikbayans is around 15-20 for various dates. We are expecting an influx in the coming days.” Ibarreta said many of these balikbayans are from New York, San Francisco, San Diego, Los Angeles, Canada, Australia, New Zealand and Japan.

The food and beverage outlets of many hotels have also seen an uptick in guests, she said, with more “managed buffets” popular especially on the weekends, along with takeout meals, and on weekdays, there still are “ business thanksgiv ing lunch and dinners.”

Metro Manila hotels have been seeing an increasing number of guests and higher room rates since August this year, even as overseas Filipino workers arrivals have tapered off. (See, “Metro Manila hotels record uptrend in occupancy and room rates—STR,” in the BusinessMirror, December 5, 2020.)

If they get a negative result on

Firms…

Continued from A1

The Bangko Sentral ng Pilipinas (BSP), in its quarterly survey of business expectations and confidence, reported that more firms indicated improved employment and outlook plans for January to March this year.

In particular, the employment outlook index returned to the positive territory for the first quarter of 2021 at 5.3 percent. This is a turnaround from the -5.5 percent in the previous round of the survey.

For the next 12 months, the employment outlook index hit 7.8 percent from

their Covid-19 test, balikbayans are allowed to move from their quarantine hotels to staycation hotels. As of November 27, DOT has allowed 20 hotels to offer staycations, of which 14 are in Metro Manila.

The Inter-Agency Task Force on Emerging Infectious Diseases recently decided to allow Filipinos living abroad, even those with foreign passports, to come home to the Philippines, along with their foreign spouses and children. (See, “PHL reopens to balikbayans in time for the holidays,” in the BusinessMirror.

The HSMA last Thursday held their annual Virtus Awards, online this time, and recognized the best individuals and teams in sales and marketing, marketing campaigns, along with new categories awarding the most resilient hotels, individuals and marketing efforts under pandemic conditions.

The 6th Virtus awardees are: ■ Erika Denice S. Patajo, Events Executive, Okada Manila (Outstanding Sales and Marketing Associate); ■ Pio A. Sanchez, Senior Sales Manager, El Nido Resorts (Outstanding Sales and Marketing Manager); ■ Bae Eun Joo, Director of Sales for Free Independent Travelers, Conrad Manila (Outstanding Sales and Marketing Leaders); and, ■ ‘Bid to Forever’ of Sofitel Philippine Plaza Manila by Dave Pimentel, Director of Marketing and Communications (Outstanding Marketing Campaign).

For the first time, the HSMA recognized “Champions of Resilience” for their outstanding work during the pandemic: ■ Ma. Elena Cecille M. Daugdaug, Sales Manager, Quest Hotel and Conference Center Cebu (Individu-

al category). Not only did Daugdaug protect the business, she also grew the business that contributed to the retention of a sizable percentage of hotel staff.

■ ‘Safely Apart, Closer at Heart’ of Chroma Hospitality by Carmela Bocanegra, Vice President for Sales and Marketing (Marketing Communications category), which had the most comprehensive and wellplanned campaign with clear messaging.

■ Luxent Hotel led by General Manager Melanie Pagkalinawan (Team Category). By ensuring the safety and well-being of employees, and their families, including mental health awareness and providing alternative platforms to earn money as partner-providers of the hotel, employees were fully engaged in proactively increasing revenue streams of the hotel, while reducing its expenses during this time of adversity.

In her opening remarks, Tourism Secretary Bernadette Romulo Puyat said the awards “gives us a high note to end on after an incredibly tumultuous year, and the motivation to press on as a new year brings on a set of new challenges.”

She es pec i a l ly l auded t he Champions of Resilience, who “rose to the challenge” when the pandemic hit, and accommodation establishments had to adjust from first serving as quarantine facilities when hotels served as quarantine facilities or accommodations for frontliners to the current status, where some are now allowed to accept staycationers. She thanked the group for its continued support to projects of the Department of Tourism.

HSMA is an aggrupation of hotel sales and marketing professionals with over 150 members nationwide.

the -2.1 percent, indicating an upward trend in the confidence of businesses to hire people in the next couple of months.

The confidence index is computed as the percentage of optimistic firms minus the percentage of pessimistic firms on the employment outlook.

Likewise, the percentage of businesses with expansion plans in the industry sector rose to 16.9 percent for the first quarter of 2021 from 11 percent in the previous survey round.

For the next 12 months, the index of expansion confidence hit 28 percent from 20.4 percent in the previous survey.

The BSP said the percentage of firms that expressed expansion plans for the next quarter and the next 12 months increased across all industry subsectors,

except for the agriculture, fishery and forestry sub-sector, which declined.

Asked about what risks could hamper their improved confidence for the coming months, businesses identified insufficient demand resulting in low sales volume and stiff competition as indicated by 45.6 percent and 36.7 percent of the total number of respondents, respectively.

The BSP also said the majority of the respondents specified—as their additional business constrain—the continued adverse effects of the Covid-19 pandemic.

Latest data from the Philippine Statistics Authority (PSA) showed the country’s unemployment rate hit 8.7 percent in October.

News

BusinessMirror

A4 Monday, December 14, 2020 • Editor: Vittorio V. Vitug

www.businessmirror.com.ph

Solons, group offer insights on vaccination issue

By Jasper Emmanuel Y. Arcalas

sure against SARS-CoV-2.

and Claudeth Mocon-Ciriaco

Concerns

@jearcalas

Correspondent

A

LAWMAKER is not keen on getting Filipino babies, teenagers, breastfeeding mothers and pregnant women vaccinated against Covid-19 due to lack of data as a group said government must work doubly-hard on its messaging on the drugs to fight the infectious virus.

House Health Committee Vice Chairman and Anakalusugan Rep. Michael T. Defensor said last Sunday that Covid-19 vaccines that have received emergency use authorizations abroad are “totally not recommended” in pregnant women, mothers who are breastfeeding and for children under 16 years old.

“For now, the vaccine developed

by Pfizer Inc. and BioNTech SE cannot be used in individuals younger than 16 years old, based on our comprehensive review of the EUAs issued by pharmaceutical regulators in the three countries,” Defensor was quoted in a statement as saying.

“The use of the vaccine in pregnant women and mothers who are breastfeeding is also either totally not recommended, or being discouraged with stern warnings,” he added.

The Covid-19 vacine developed

by Pfizer Inc. and BioNTech SE has recently obtained emergency use authorizations (EUAs) in the United States, the United Kingdom and Canada, paving the way for the roll-out of the much-awaited mea-

DEFENSOR said he expects the country’s Food and Drug Administration “to affirm the same recommendations—once the vaccine gets an EUA here—simply because the safety and efficacy of the shots in children under 16, pregnant women and mothers who are breastfeeding has yet to be established by further clinical trials.”

“In fact, the same recommendations are bound to apply to all newly developed Covid-19 vaccines that will eventually obtain EUAs in the country—not just the Pfizer-BioNTech shots,” the lawmaker added.

Defensor noted that in Britain, the Pfizer-BioNTech vaccine is “absolutely not recommended for use in pregnant women and mothers who are breastfeeding.” This, he said, was due to concerns on whether the vaccine is excreted in human milk and creates possible risks to newborns and infants.

“In fact, under their immunization guidelines, in all women of child-bearing age, pregnancy has to be ruled out first prior to vaccination,” the lawmaker said. “Women of child-bearing age are also being told to avoid pregnancy for at least two months after their second dose of the vaccine,” he added.

Defensor explained that he made the remarks since the Philippines is “experiencing a ‘baby boom’ owing to lockdowns and strict stay-athome orders.” Furthermore, Defensor noted that the Philippines has

AMANG GERONIMO, Operation Manager, with his staff arrange 2021 Silk Screen Printed Calendar at his shop in Commonwealth Avenue in Quezon City. Geronimo said that his business decreases to 25 percent production during the Covid-19 pandemic. NONOY LACZA

sealed a deal to secure shipments of the Pfizer-BioNTech vaccine.

Citing the Commission on Population and Development, the lawmaker said the country is expected to record this year some 2 million pregnancies, of which 214,000 are unplanned.

Messaging

MEANWHILE, a local political consultancy firm said government must work extra hard to convince Filipinos

that money is used for vaccination and that they need to be vaccinated.

BluePrint Campaign Consultancy Inc. CEO Eero R. Brillantes said this is based on the firm’s analysis of messages that Filipinos post on a socialmedia platform.

“The use of natural and/or common treatment seems to undercut the Covid-vaccine message,” Brillantes said. “Most of the Covid treatment is being spun as motivation for hospital to make money, reinforced by the PhilHealth [Philippine Health Insurance Corp.] implosion.”

Brillantes was referring to the series of negative views that reduced public confidence in the entire toplevel and middle-level management of PhilHealth as corruption issues forced many of them to resign amid a Senate investigation.

An indication that Filipinos see the issue as a major concern is shown by the 150 million Facebook posts, likes, shares and comments they made from September 1 to November 30, Brillantes said.

He added that public officials concerned with managing the response to the spread of the pandemic in the country must be guided by transparency and efficiency in resource management, particularly in their statements on how the vaccine would be acquired and distributed to the target population.

“Any policy will be severely cross-examined; but the level of support and opposition is expected to be equal, unless it is to eradicate waste and corruption,” Brillantes emphasized.

‘Public anger’

ACCORDING to Brillantes, “public anger” towards corruption issues and other problems in the health sector, especially on PhilHealth, “means that there is no room for

effective counter-factual messaging” from the government and PhilHealth management.

Filipinos were also concerned over issues affecting education, especially of their children, with module-distribution problems and the late opening and subsequent confusion in the schedule of private and public schools, affecting their view of the government, particularly the Department of Education, he noted.

Brillantes said that big data analysis also showed the government may have miscalculated the positive impact of its disaster response and management in focusing on the issue of relief goods distribution, with negative posts rising when President Rodrigo Duterte launched a diatribe against Vice President Leni Robredo.

Nine other issues on overseas Filipino workers, housing, rice, financial assistance, public transport, unemployment, small businesses, peace and order and utilities also indicate some need for government restraint in putting down the partisan efforts of opposition politicians, Brillantes said. He notes that the public wanted to see more positive and inspirational stories of volunteerism and self-reliance than partisan nitpicking.

He cited as example that Filipinos were not impressed by partisan-related distribution of relief goods and reacted more positively to private, voluntary relief-goods giving with no attendant publicity.

Free vaccination

MEANWHILE,oppositionSenatorLeila M.deLimahasfiledameasureproviding freeCovid-19vaccinestoallFilipinosand establishing a safe and efficient system of distribution and delivery.

De Lima filed Senate Bill (SB) 1942, or the “Libreng Bakuna Kontra Covid-19 Para sa Lahat ng Pilipino Act.” SB 1942 seeks to safeguard

the health of Filipinos by allocating funds and mandating the country’s health system to offer vaccines against Covid-19, free of charge.

“Anticipating the arrival of these vaccines subject to trials and local evaluation soonest, this representation believes the need to guarantee free vaccination for all Filipinos whose right to health should not be diminished by belatedly acting on the health crisis,” the lawmaker said.

“As hopes grow for the early arrival of vaccines in the country, we must be prepared and guarantee our people the safe and efficient distribution of the vaccine to all Filipinos, especially the priority and vulnerable sectors of our society,” she added. “It cannot be overemphasized: vaccine coverage is as important as vaccine efficacy.”

De Lima recalled that the Executive branch has reported about its continued negotiations with pharmaceutical companies for the supply of at least 14 specific Covid-19 vaccines for local use, but she stressed that “its vaccination plan leaves much to be desired.”

Herd immunity

NATIONAL Policy against Covid-19 Chief Implementer and Secretary Carlito Galvez Jr. claimed that the country will now have to fight for the remaining percentage of future Covid-19 vaccine supplies as 80 percent of the global market had already been bought up by rich countries.

De Lima, however, maintained that this challenge should not be an excuse for a delayed response in securing vaccine supplies considering that new suppliers with equally good efficacy rates have emerged.

“A concrete plan of action that will universally promote the right of all Filipinos to health is vital in winning this battle against Covid-19. A vaccination plan that is inclusive will be an instrumenttocreateherdimmunityinacountry of more than 100 million,” she said.

According to the World Health Organization, herd immunity, also known as “population immunity,” is a concept in which a population can be protected from a certain virus if a threshold of vaccination is reached.

With universal vaccination, De Lima, who heads the Senate Committee on Social Justice, Welfare and Rural Development, pointed out that the benefits not only far outweigh the costs as the long-term effects prove to be cost-effective and efficient.

Too high

ACCORDING to De Lima, “the cost of universal vaccination may seem too high on its face, but could later on be the very tool that will help the government to save more money in order to create and institutionalize more programs for the welfare of all.”

The WHO concluded that vaccinations “enable a rich, multifaceted harvest for societies and nations, [m]akes good economic sense, and meets the need to care for the weakest members of societies.”

10-month debt payments nearly twice 2019’s—BTr continued from a1

Domestic amortization, which included actual principal repayments to local creditors including those serviced by the Bond Sinking Fund and Central Bank Board of Liquidators, stood at P698.885 billion for the 10-month period.

Meanwhile, foreign amortization, which included prepayments made due to bond exchange transactions, reached P127.975 billion.

Of the total amount paid for interest payments from January to October, P239.501 billion was used to settle domestic borrowings, while P95.543 billion was spent for interest payments for foreign loans.

For October alone, government spent a total of P27.188 billion for debt service, a 7.88-percent uptick from P25.202 billion in the same month last year.

Interest payments made by the government during the month of October was recorded at P22.07 bil-

lion, a 6.49-percent increase from P20.724 billion last year.

On the other hand, the government paid a total of P5.118 billion for amortization in October this year.

This was 14.29 percent higher than last year’s P4.478 billion.

Amortization refers to the repayment of loan principal over time, while interest payment refers to a payment determined by the interest rate of an account.

Gross borrowings of the national government from January to October this year had already reached P3.22 trillion, breaching the P3trillion borrowing program set by the national government this year to finance its spending requirements and the budget deficit amid the Covid-19 pandemic.

Since the government expects an increase in revenue collections and disbursements, however, the Cabinetlevel Development Budget Coordina-

tion Committee (DBCC) earlier this month announced that it has narrowed its projection for this year’s budget deficit from 9.6 percent of GDP to 7.6 percent of GDP this year.

The country’s outstanding debt as of end-October has already amounted to P10.028 trillion, which is just over a hundred billion shy of the P10.16-trillion outstanding debt level that the economic managers had earlier projected for this year.

The DBCC also earlier projected the country’s debt-to-GDP ratio this year to increase to 53.91 percent of GDP—a level it has not seen in over a decade—from a record low of 39.6 percent of GDP last year.

For next year, the government has also programmed to borrow another P3 trillion. Economic managers also expect outstanding debt to further swell to P11.98 trillion and the country’s debt-to-GDP ratio to rise to 58.28 percent.

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, December 14, 2020 A5

‘Over 50% rice farmers tapped support schemes’

By Jasper Emmanuel Y. Arcalas @jearcalas

A

BOUT half of the country’s 2.1 million rice farmers availed of government programs, but only 38,640 planters obtained loans from state-run banks in 2019, according to the Philippine Statistics Authority (PSA).

In a recently published annual report, the PSA said from 2017 to 2019, more than 80 percent of the country’s palay farmers were aware of the rice programs of the government.

“Of those aware, 53.7 to 55.6 percent of the farmers benefited from the government rice programs,” the PSA said in the report.

However, the PSA report showed that the rice farmers’ awareness of government programs fell to a threeyear low of 80.7 percent last year from 84 percent recorded in 2017.

Also, the number of farmers who availed of the programs declined to a three-year low of 53.7 percent, according to the report.

This means that about 1.68 million palay farmers were aware of the government’s rice programs but only 902,160 tapped the interventions. The Food and Agriculture Organization of the United Nations estimates that there are about 2.1 million Filipino rice farmers.

“About 45.4 to 57.2 percent of the palay farmers who availed government programs on rice benefited from seeds subsidy during the threeyear period,” the PSA report read.

“Intervention on irrigation facilities ranked second on the availed benefits by the palay farmers, which ranged from 44.7 to 49.5 percent.”

The PSA said the other interventions that rice farmers tapped were training (22.5 percent to 28.1 percent), fertilizer and other inputs (21.7 percent to 27 percent), and postharvest facilities (13.6 percent to 17.9 percent).

The report showed that the least availed government programs were marketing assistance, and loan interventions, which accounted for

A FARMER in Central Luzon plants rice in this BusinessMirror file photo.

PhilMech: Quarantine rules slowing down farm equipment distribution T

HE Philippine Center for Postharvest Development and Mechanization (PhilMech) said it has yet to deliver over 13,000 units of farm equipment to recipients under the mechanization component of the Rice Competitiveness Enhancement Program.

The attached agency of the Department of Agriculture said in a statement that it still has a backlog of 13,698 units of farm machines which were funded by the 2019 and 2020 Rice Competitiveness Enhancement Fund (RCEF).

PhilMech is supposed to get P5 billion annually from 2019 until 2024

under the RCEF which was created by Republic Act 11203 or the rice trade liberalization (RTL) law for the procurement and distribution of farm equipment to qualified beneficiaries.

The mechanization component is one of the key programs that the government is implementing to improve farmers’ yield and reduce production cost.

“Despite the varying degrees of quarantines in the Philippines, PhilMech continues to distribute as a form of grant various farm machines under the RCEF-Mechanization Program. This has not been easy as farm machine suppliers also have a hard

time moving and delivering their inventory of machines to qualified FCAs because of the quarantines,” PhilMech Executive Director Baldwin G. Jallorina Jr. said.

As of December 2, PhilMech said it has distributed 2,210 units of farm machinery to qualified farmers’ cooperatives and associations (FCAs) since June.

The farm equipment distributed so far include 631 four-wheel tractors, 365 hand tractors, 397 floating tillers, 52 precision seeders, 136 walk-behind transplanters, 122 riding-type transplanters, 126 reapers, 367 combine harvesters

and 14 mobile rice mills, according to PhilMech.

“With the possible loosening of quarantine restrictions in the first or second quarter next year as a vaccine for Covid-19 is expected to be available in the Philippines, PhilMech can step up the distribution of farm machines nationwide,” Jallorina said.

“With those developments, PhilMech can definitely plan ahead in accelerating the distribution of more farm machines nationwide, which will also greatly contribute to helping the countryside recover from the Covid-19 pandemic.”

Jasper Emmanuel Y. Arcalas

Online workers must agree on a wage floor–PIDS study continued from a12 In an Asian Development Blog, ADB Principal Social Development Specialist Sri Wening Handayani said social protection can improve the future of Asian workers.

Handayani said this is particu-

larly the case in today’s gig economy where workers have short-term contracts or are working as freelancers without any benefits such as retirement packages.

Currently, Handayani said the

less than 5 percent.

In 2019, only about 2.6 percent or around 43,680 palay farmers availed the marketing assistance programs of the government while only 2.3 percent or some 38,640 farmers tapped loans from staterun financial institutions.

PSA data showed these are the lowest recorded figures for the two government interventions since 2017.

Federation of Free Farmers National Manager Raul Q. Montemayor said the low availment of government loan programs by farmers could be attributed to the “cumbersome” procedures and requirements.

“With informal lenders, they will just talk, shake hands, and the loan is immediately released,” Montemayor told the BusinessMirror.

“Also, there are hidden costs aside from the interest fees—transaction costs for processing documents, mortgage fees for collaterals, and fees to secure copies of titles and other documents.”

coverage of social protection programs in Asia is already very low compared to European countries.

Based on ADB’s Social Protection Indicator, less than half of Asia’s population was fully covered by at

least one social protection scheme in 2015.

Handayani said the range varies from Japan, with more than 90 percent, to Nepal with less than 30 percent coverage.

Over 90% of toll road transactions now cashless–TRB continued from a12

The TRB chief also noted that the number of motorists queuing daily for RFID installation is decreasing, from over 34,000 on December 1 to less than 28,000 on December 8.

Meanwhile, Sales said that Transport Secretary Arthur Tugade gave directives to ensure that the North Luzon Expressway (Nlex) operator immediately implement various measures to resolve the implementation issues that caused congestion at its toll roads.

One measure is to remove the “emergency” signages, and convert these toll plaza lanes to either “Cash” or “RFID” lanes. Ambulances, law enforcement vehicles, and other emergency response vehicles will be allowed to pass through any lane.

Additionally, the barriers at the toll plazas should be removed during peak/rush hours to allow fast entry and movement of vehicles. Further study on the removal of barriers was also recommended. RFID and Cash lanes should be positioned in clusters to avoid confusion.

To reduce queuing, RFID installation sites at toll plazas should be

removed. Stickering and reloading will be relocated in gasoline stations, malls, groceries, and other places frequented by motorists. For small tollgates with 2 to 3 lanes, RFID stickering lanes will be removed, and a cash lane maintained.

The toll operator has been instructed to consider increasing RFID sensor wattage from only 3 to 10 watts, within 15 days from December 9.

The Karuhatan toll plaza configuration in Valenzuela (for Nlex) should be reassessed, and a recommendation submitted at the soonest time possible.

The tollway operators were given until November 2 to implement cashless transactions at tollways.

This was moved to December 1 to give motorists ample time to have RFID stickers installed. To ensure efficient implementation, the DOTr-TRB set a transition period until January 11, with no fines and penalties to be imposed on motorists without vehicle RFID. Further, RFID installation will continue beyond January 11 for nonfrequent tollway users. Toll load has no validity expiration.

‘Covid restrictions to curb hoopla, but not poll spending’

continued from a1

These could also include “politicized public services” such as the provision of vaccines. Mendoza noted that these tendencies were observed when the Dengvaxia vaccine was introduced in 2016.

Mendoza recalled there were reports saying that some local officials competed to access the vaccine first.

Creativity test

DE La Salle University economist Maria Ella Oplas agreed that politicians’ creativity will be tested for the 2022 polls.

Oplas told BusinessMirror that many politicians are going on social media platforms like YouTube to reach their audience.

These are already being done under the guise of local tourism promotion and information dissemination.

She noted that some politicians have taken advantage of the ayuda (assistance during the pandemicinduced lockdowns) by “pasting their faces on the products being given to the poor.”

Some politicians also collect donations from private individuals so they can personally distribute these to their constituents. Oplas said this was apparent in the past few weeks after the recent typhoons.

In some cases, politicians even teamed up with famous YouTubers and influencers to reach their constituents. In some cases, these collaborations are done for free. “[This is being done] for people to associate them [with] the ayuda even though it did not come from them but from the taxpayers’ hard-earned money,” Oplas told this newspaper.

Warning on vaccine ‘tool’

SHE also expressed concern that the Covid-19 vaccines could be used by politicians to secure votes from their constituents.

This could lead to inequality in terms of vaccine distribution and could even increase the cost of vaccines in the process.

“I also see exploitation of the price. I noticed that even the price of the testing kit was not regulated.

The charges of hospitals are not regulated. And institutions took advantage of that,” Oplas said.

“If the vaccine will be limited to those in power, people will be forced to buy at very, very high prices. I hope that the DTI [Department of Trade and Industry] will take a look at this,” she added.

In order to prevent politicized public services from happening, Mendoza said the government

bureaucrats should be the ones to handle these social services to ensure the immunization drive is done professionally.

Conducive to patronage

MENDOZA expressed concern that with millions of Filipinos out of work and hungry, patronagerelated spending could increase.

Philippine Statistics Authority (PSA) data showed an average of 4.5 million Filipinos are jobless this year. This represents around 40 percent of the labor force.

A recent study released by the University of the Philippines Center for Integrative and Development Studies Program on Alternative Development (UP-CIDS AltDev), meanwhile, said 30.7 percent of Filipinos experienced hunger this year.

“In light of expected delays in acquiring and rolling out a Covid-19 vaccine, it is likely that the slowdown will be protracted and many Filipinos will be dependent on continued crisis support. Part of that support could come from politicians trying vie for votes in 2022, particularly since some of them have already taken advantage of the situation by practicing ‘EPAL relief,’ and plastering their faces and names even on taxpayer-funded

contributions,” Mendoza said.

While election spending could help millions, especially if these are done at this time, Oplas said it is important to ask where this spending is coming from.

Oplas said if politicians are using government funds to further their political aspirations, that presents a huge concern because it can lead the government into more debt.

Meanwhile, University of Asia and the Pacific (UA&P) School of Economics Dean Cid Terosa said that if 2022 will see the Philippines enter a “new normal,” then the “normal” election spending will happen.

Early election spending, Terosa said, may not happen given the possibility that such a move could be regarded as “insensitive” given the current situation with the pandemic.

However, Terosa said if the vaccine is used as a form of election spending, this could become problematic for the electoral system.

“It is possible (vaccines used as election spending), but it can be easily tagged as opportunistic electioneering. If it happens, it can cause the electoral system to fail in the sense that voters’ choices will be driven by accommodation or compromise rather than by

rational judgment,” Terosa said.

In order to prevent this from happening, Terosa said the government should disincentivize the use of vaccines and Social Amelioration Program (SAP) like ayuda in election spending this by making it punishable by law.

Flipside on vaccines

MEANWHILE, Foundation for Economic Freedom President Calixto V. Chikiamco and National Scientist and former UP School of Economics Dean Raul V. Fabella do not believe that the creativity of politicians could make vaccines a viable means of election spending.

For one thing, Chikiamco said, drug companies will sell vaccines to governments and not private individuals or corporations.

Voters will also prefer cash rather than vaccines. Chikiamco doubts whether vaccines can be used as a form of vote buying.

Fabella agreed, saying that extending cash would be a better way to reach constituents than through a vaccine.

“If I were a politician, I would give money directly as of old, not use vaccines as bait,” Fabella said.

“Vote buying will continue but you cannot eat vaccines so using

vaccine is politically stupid.”

Last week, Chief implementer of the government’s national policy on Covid-19 Carlito G. Galvez said the government’s vaccination drive for the Covid-19 next year is also faced with yet another daunting task: convincing people of the safety and efficacy of the vaccine.

He said they already anticipated as much, especially amid the recent issues hounding some of the forerunners of the so-called vaccine race.

Among the vaccines about which public concerns have been raised are those from Chinese drug maker Sinovac Biotech Ltd., as well as that in the United Kingdom being developed

by Oxford University and AstraZeneca.

International media reported Sinovac’s CEO had admitted in court to bribing certain regulators in China for an earlier vaccine it developed, while AstraZeneca faced scrutiny, particularly in the United States, due to discrepancies in the results of its clinical trials.

Both are currently included on the government’s shortlist of the vaccines it is considering to buy for its immunization drive next year.

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Monday, December 14, 2020

The World BusinessMirror

US leads world with 16 million Covid-19 cases, 297,600 deaths

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ALTIMORE—The US has recorded more than 16 million cases of Covid-19, by far the most of any country in the world, according to data kept by Johns Hopkins University.

The US has reached record dailyconfirmed infections at 231,775, according to a tally by Johns Hopkins University. That's nearly 4,000 more than the previous high on December 4.

India and Brazil are the only two other countries that have reported more than 3 million cases of Covid-19. Globally, more than 71 million cases have been confirmed. The actual number of cases is believed to be far higher because many people haven't been tested and some who get the disease don't show symptoms. The coronavirus has caused more than 1.6 million global deaths.

The US also leads the world in deaths related to the coronavirus at more than 297,600, including a record 3,309 recorded on Friday, which exceeded by 6% the previous high of 3,124 deaths reported Wednesday.

The increases come as millions of doses of the Covid-19 vaccine developed by Pfizer start rolling into US hospitals on Monday. The first vaccines will go to hospital staff and other health-care professionals.

California public health officials say the number of available intensive care unit beds in the vast San Joaquin Valley has dropped to zero for the first time on Saturday. Just a day earlier, ICU capacity in a region comprised of 12 counties was at 4.5%.

The news comes as ICU units fill up across California amid spiking Covid-19 cases. Last week, San Joaquin Valley and the enormous Southern California region were ordered to follow the strictest antiCovid-19 rules under a new stay-athome order.

Overflowing ICUs was a major factor in Gov. Gavin Newsom's decision to implement the new order.

Key developments: Italy records 64,036 Covid deaths

ROME—Italy added another 649 coronavirus deaths Saturday, bringing its official total to 64,036 and just shy of Britain's Europe-leading 64,123 dead.

Italy could overtake Britain despite having 6 million people fewer than the UK's 66 million, and trails only the much larger US, Brazil, India and Mexico, according to a tally

by Johns Hopkins University.

Italy has the most deaths per 100,000 population among the most affected countries. Italy has added nearly 29,000 dead since September 1.

More than 1.8 million Italians have contracted the virus since the start of the pandemic. Health experts say the numbers reflect an underfunded health-care system with few ICU beds, government delays in imposing restrictions and an elderly population.

Vatican citizens to get vaccine in 2021

VATICAN CITY—Vatican citizens, employees and their families will begin to receive the coronavirus vaccine early next year, according to Vatican News.

The head of the Vatican health service, Dr. Andrea Arcangeli, says the Pfizer vaccine has been chosen, but others might be introduced later.

Arcangeli says the Vatican health services planned a campaign to underline the importance of the vaccine, which can be administered to anyone over 18.

The Vatican, a tiny city-state of about 600 people in the center of Rome, has beefed up its coronavirus measures amid a resurgence of the outbreak in Italy, including requiring protective masks indoors.

In October, a resident of the Vatican hotel where Pope Francis lives and several Swiss Guards tested positive.

More freedom for care home residents

PARIS—The French government is allowing care home residents to spend time with their families and receive visits, even if residents are positive for coronavirus.

The deputy health minister in charge of elderly affairs says injecting the spirit of Christmas into care homes is "essential" to maintain family ties and fight loneliness. The relaxed rules will start Tuesday to January 3.

Roughly one-third of France's more than 57,500 virus deaths have occurred in care homes. Residents have been subjected to strict confinement measures, including being limited to their rooms, to curb infections.

Peru suspends Chinese vaccine trial

LIMA, Peru—Peru suspended an advanced-phase trial of the coronavirus vaccine from Chinese state company Sinopharm after an elderly volunteer developed muscle weakness.

Signs posted on the door of the Luscious Salon advice customers about the pandemic guidelines followed in Lodi, Calif., Wednesday, Dec. 9, 2020. Lodi, a city of just under 68,000 people, is part of the San Joaquin Valley region. The coronavirus is spreading rapidly in California's San Joaquin Valley and filling its hospitals. It has the fewest available intensive care unit beds of any region in California, a frightening reality that health officials hope will convince more people to wear masks and socially distance. AP Photo/Rich Pedroncelli)

Peru’s Health Ministry says “the adverse event is under investigation to determine if it is related to the vaccine or if there’s another explanation.”

Germán Málaga, professor of medicine at the Universidad Peruana Cayetano Heredia and coordinator of the trial, told RPP radio a 64-yearold volunteer showed a “decrease in strength in the legs” and the condition could be related to GuillainBarré syndrome.

Sinopharm began its Phase 3 trial in Peru in September. It includes 12,000 people ages 18 to 75.

Germany eyes tougher measures

BERLIN—Senior German officials are calling for tough new measures to curb the spread of coronavirus and record high cases.

The country's disease control agency, the Robert Koch Institute, reported 28,438 confirmed cases in the past 24 hours and 496 deaths.

Germany, which had a much lower death rate than some of its large European neighbors in the spring, now has 1.3 million confirmed cases and 21,466 confirmed deaths since the start of the outbreak.

Finance Minister Olaf Scholz called for the swift closure of most stores and pledged financial support for affected businesses.

The governor of the southwestern state of Baden-Wuerttemberg, Winfried Kretschmann, says he expects a "hard lockdown" before Christmas.

Chancellor Angela Merkel is scheduled to meet the governors of Germany's 16 states on Sunday to discuss the next steps in containing the pandemic.

Tokyo reports 621 new infections

TOKYO—Tokyo reported 621 new coronavirus cases on Saturday, setting a new record in the capital where a lack of government measures trig-

gered concerns about a surge during the holiday season.

Nationwide, Japan reported a total of 174,000 cases, with about 2,500 deaths since the pandemic began.

Experts on a Tokyo metropolitan task force say serious cases are on the rise, putting burdens on hospitals and forcing many of them to scale back on care for other patients.

Japan issued a non-binding state of emergency in the spring and has overcome earlier infection peaks without a lockdown.

South Korea sees spike in cases

SEOUL, South Korea—South Korea has reported another 950 coronavirus cases, its largest daily increase since the emergence of the pandemic.

The figures released by the Korea Disease Control and Prevention Agency on Saturday brought the country's caseload to 41,736, after health officials added more than 8,900 cases in the last 15 days alone. Six Covid-19 patients died in the past 24 hours to bring the death toll to 578.

Most of the new cases came from the densely populated Seoul metropolitan area, where health workers have struggled to track transmissions that occur at hospitals, longterm care facilities, restaurants, saunas, schools and army units.

Officials restored some restrictions in recent weeks, such as shutting nightclubs and allowing restaurants to provide only deliveries and takeout after 9 p.m.

President Moon Jae-in in a Facebook message apologized for his government's failure to contain the outbreak despite months of measures that hurt the economy. He pleaded for vigilance, saying the country was going through its “last crisis before the arrival of vaccines and treatment.” AP

Sweden’s health-care workers quitting in dangerous numbers

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weden faces a shortage of health-care workers as the number of resignations ticks up after a relentless year of caring for Covid patients.

Sineva Ribeiro, the chairwoman of the Swedish Association of Health Professionals, says the situation is “terrible.”

Even before the first wave of the pandemic back in March, there was “a shortage of specialist nurses, including at ICUs,” she said in a phone interview.

The development shows that even countries with universal health-care systems are now struggling to keep up with the Covid crisis.

This week, Stockholm’s intensive care capacity hit 99%, sending the city into a panic and prompting calls for outside help.

But even if more ICU beds are provided, the bigger concern now is whether Sweden has enough health-care workers with the skills needed to look after the country’s sickest patients.

Ribeiro says that already back in May, members of her union “warned of an unten-

able situation.” There are fewer qualified people available now than there were in the spring, “which makes it harder to expand ICU capacity,” she said.

Health-care professionals have emerged as the heroes of the Covid crisis, often drawing cheers from grateful onlookers as they emerge from hospitals after long and grueling shifts.

But increasingly, staff are so desperate for some real time off that they see resignation as the only way out, Ribeiro said. A survey by broadcaster TV4 showed that in 13 of Sweden’s 21 regions, resignations in the health-care profession are now up from a year ago, at as many as 500 a month.

The Army

Stockholm County Mayor Irene Svenonius says the situation is “extremely tense.” In an interview with Dagens Nyheter on Friday, she acknowledged that health-care workers are overworked, and that there’s a need to add staff. “There’s fatigue,” she said. “You can’t ignore that, so it’s extremely important to

get more people.”

It’s uncertain where that extra capacity will come from. Stockholm has asked for additional health-care staff from Sweden’s armed forces, but it’s not clear the military has the resources to help. In the meantime, over 100 staff from a children’s hospital have reportedly been redeployed to intensive care units, meaning that children who had been due to receive non-emergency surgery will now be forced to wait.

Sweden, which has avoided a lockdown since the pandemic started, is also turning to other Nordic countries for help. On Saturday, neighboring Finland said it’s ready to assist by freeing up space for Swedish ICU patients.

The worry is that, despite scientific strides that allow medics to better understand and treat Covid-19, there aren’t enough professionals left to put that knowledge into practice.

“We don’t have the staff to do it,” Ribeiro said. She described the current health-care crisis facing the country as “unprecedented.”

Editor: Angel R. Calso

States will start getting Covid vaccine Monday–US officials

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ASHINGTON—The nation's first Covid-19 vaccine will begin arriving in states Monday morning, US officials said Saturday, after the government gave the final go-ahead to the shots needed to end an outbreak that has killed nearly 300,000 Americans.

Trucks will roll out Sunday morning as shipping companies UPS and FedEx begin delivering Pfizer's vaccine to nearly 150 distribution centers across the states, said Army Gen. Gustave Perna of Operation Warp Speed, the Trump administration's vaccine development program. An additional 425 sites will get shipments on Tuesday, and the remaining 66 on Wednesday.

Initially, about 3 million doses were expected to be shipped nationwide. It was unclear exactly who would receive the first shots, though health-care workers and nursing home residents were the priority. Perna said health authorities would decide.

A similar number of shots will be held back for those recipients' second dose, which is needed for full protection from Covid-19.

The announcement Saturday kicks off a massive logistical operation involving the federal and state governments, private companies and health-care workers to quickly distribute limited vaccine supplies throughout the US. It offers hope in a country grappling with surging Covid-19 infections and deaths, which are overwhelming hospitals and raising fears that things will only get worse as people gather over the holidays.

Perna compared the vaccine distribution effort to D-Day, the US-led military offensive that turned the tide in World War II. "D-Day was the beginning of the end and that's where we are today," Perna said in a news conference. But he added that it would take months of work and "diligence, courage and strength to eventually achieve victory."

MaineHealth, a network of 12 hospitals based in Portland, plans to provide an expected first delivery of nearly 2,000 vaccines to doctors, nurses and others facing risk as they treat Covid-19 patients, said Dr. Dora Mills, chief health improvement officer.

"It's almost hard for me to talk about without tearing up," Mills said Saturday.

"This vaccine gives us some glimmer of light at the end of the tunnel."

The first shipments will leave Pfizer's manufacturing plant in Kalamazoo, Michigan, by truck and then be flown to regional hubs around the country. Medical distributor McKesson and pharmacy chains, including CVS and Rite-Aid, also are involved in the initial rollout and vaccinations at nursing homes and assisted living centers.

In a key distribution challenge, the vaccine, co-developed with BioNTech, must be stored and shipped at ultralow temperatures—about 94 degrees below zero. Pfizer has developed shipping containers that use dry ice, and GPS-enabled sensors will allow the company to track each shipment and ensure it stays cold.

Distribution sites are mainly large hospitals and other facilities able to meet those ultra-cold storage requirements. Within three weeks, vaccines should be delivered to all vaccination sites identified by states, such as local pharmacies, Perna said.

The vaccine was timed to arrive Monday so health workers could receive the shots and begin giving them, Perna said.

Workers at Mount Sinai Hospital System in New York did a dry run this week to prepare for their shipment. In a clean room, pharmacists practiced making separate doses of a training vaccine and ensuring the freezer was kept at temperatures colder than in Antarctica.

"Not a lot of people have vaccinated for a large pandemic like this," said Susan Mashni, vice president of pharmacy at Mount Sinai. "So we want to make certain that we get it right. There's a lot of different moving pieces and parts."

At a meeting where an expert panel advising the Centers for Disease Control and Prevention on vaccines unanimously endorsed the Pfizer shot, some said local health officials were struggling to ensure the vaccine is distributed fairly and to those most in need and to ease people's concerns about getting the shot.

But "the funding necessary for state and local health departments to carry out this program has been put in the deep freeze," said Dr. Jeffrey Duchin, a Seattle physician representing the National Association of County and City Health Officials.

The Food and Drug Administration authorized emergency use of the vaccine late Friday. It capped an unprecedented global race to speed vaccines through testing and review, chopping years off the normal development process.

The FDA found the vaccine highly protective with no major safety issues.

US regulators worked for months to emphasize the rigor and independence of their review, but President Donald Trump's administration pressured the agency until the final announcement.

A top White House official even threatened to remove FDA chief Stephen Hahn if a ruling didn't come before Saturday.

Concerns that a shot was rushed out could undermine vaccination efforts in a country with deeply ingrained skepticism about vaccines.

"Science and data guided the FDA's decision," Hahn said Saturday. "We worked quickly because of the urgency of this pandemic, not because of any other external pressure."

While the vaccine was determined to be safe, regulators in the UK are investigating several severe allergic reactions.

The FDA's instructions tell providers not give it to those with a known history of severe allergic reactions to any of its ingredients.

The FDA's vaccine director, Dr. Peter Marks, said the agency will carefully track any reports of allergic reactions in the US. Next week, the FDA will review a vaccine from Moderna and the National Institutes of Health that appears about as protective as Pfizer's shot. On Friday, the Trump administration said it had purchased 100 million more doses of that vaccine on top of 100 million it previously ordered.

The announcement came after revelations that the White House opted not to lock in an additional 100 million doses of Pfizer's vaccine for delivery in the second quarter of 2021. The Trump administration contends the current orders plus those in the pipeline will be enough to accommodate any American who wants to be vaccinated by the end of the second quarter of 2021. AP

Nurse’s pay

Part of the problem is that nurses in particular are increasingly unwilling to subject themselves to the hours and conditions facing them during the Covid crisis, given the average pay level. Sara Nordin, once an assistant nurse at an intensive care unit, told Bloomberg in October that she quit because she couldn’t make ends meet on the $33,600 basic pay she got a year.

“I talked to members in August who said they would resign because it was the only way to get some time off and recover,” Ribeiro said. “We see high rates of sickness, symptoms of exhaustion and members who have been infected.”

For Sweden, the danger now is that more people will die because there aren’t enough qualified health-care professionals left to look after them.

“In a work environment where you are so tired, the risk of mistakes increases,” Ribeiro said. “And those mistakes can lead to patients dying.” Bloomberg News

The Pfizer Global Supply Kalamazoo manufacturing plant is shown in Portage, Michigan on December 11, 2020. The US gave the final go-ahead Friday to the nation’s first Covid-19 vaccine, marking what could be the beginning of the end of an outbreak that has killed nearly 300,000 Americans. AP Photo/Paul Sancya

The World BusinessMirror

www.businessmirror.com.ph

Short work by Supreme Court of Trump’s ‘big one’

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ASHINGTON—It didn't take the Supreme Court long to make short work of what President Donald Trump called “the big one.”

And as the court on Friday rejected a Texas-based lawsuit to overturn the election results, not even Trump's three high court appointees were willing to rise to the defense of the president. Trump has been clinging to baseless claims of fraud in the hope of reversing election results that made Democrat Joe Biden the next president and deprived Trump of four more years in the White House.

For all Trump's predictions that the court and his justices would make things right, he and his supporters were lacking one basic element: a strong legal argument that might plausibly attract some sympathy on a court now dominated by conservative justices.

A Republican senator, Nebraska's Ben Sasse, delivered a stinging summary of the court's rebuke to Trump and his allies. Sasse said “every American who cares about the rule of law should take comfort that the Supreme Court—including all three of President Trump’s picks—closed the book on the nonsense.” Sasse, a potential 2024 presidential candidate, has been one of the few Republicans willing to criticize Trump.

Following a string of legal setbacks in battleground states he lost in November, Trump had pinned his hopes on a desperate Supreme Court lawsuit that no Republican lawyer with high-court experience would touch. The suit was filed by Texas Attorney General Ken Paxton and backed by 18 other Republican attorneys general and 126 GOP members of the House of Representatives. It asked the court to take the unprecedented, even outlandish, step of setting aside the 62 combined electoral votes for Biden in Georgia, Michigan, Pennsylvania and Wisconsin.

The justices, acting late Friday, ended the suit as quickly as it began, saying in a mundane, three-sentence order that Texas had no right to question how other states conduct their elections.

The justices appeared to be unanimous in concluding that they would not disturb the electoral votes, three days before presidential electors meet to formally choose Biden as president. The justices Trump nominated— Neil Gorsuch, Brett Kavanaugh and Amy Coney Barrett—said nothing to suggest they disagreed with the outcome, and they were likewise quiet when the court rejected an appeal from Pennsylvania Republicans earlier in the week.

The silence was in sharp contrast to what Trump forecast when he nominated Barrett in September, even before Justice Ruth Bader Ginsburg had been buried, and urged the Senate to confirm Barrett before Election Day. Then, Trump said she would be needed to help settle disputes over the election that Trump had been saying for months would be fraudulent, without any basis.

The setback was clearly on his mind Saturday: He retweeted a story from a conservative commenter, with the president’s three court

appointees pictured, that said they were “missing in action” and he accused the court of having “ZERO interest" in the merits of the case while bemoaning that his pleadings were "NEVER even given our day in Court!”

As recently as Tuesday, he had retweeted a photo of Barrett from a follower who boasted that the Democrats had cheated, but that the “wheels are coming off” their scheme. “They got caught because we were leading by so much more than they ever thought possible.

Late night ballot ’dumps‘ went crazy!” Trump tweeted, repeating one of his favorite claims that he had an insurmountable lead that was overcome only by fraud.

In fact, in Pennsylvania, Michigan and Wisconsin, ballots counted later on the night of the election and in the days following were overwhelmingly mailed-in votes that tended to favor Biden. The shift in the vote totals was completely expected—and widely discussed in advance of the election—because laws in those three states prohibited the early processing of mailed-in ballots.

Paxton’s lawsuit—which the state’s top Supreme Court lawyer, unusually, did not sign—cited the shift in the vote, the widespread use of mailed-in ballots because of the coronavirus pandemic and the roles played by state courts and governors, instead of legislatures, in changing rules to accommodate voters amid the pandemic. These and other arguments had been made and disposed of in state and federal courts since just after the November 3 election.

The Supreme Court isn't always unwilling to step into political controversies. Twenty years ago, with a presidential election hanging in the balance, the court voted 5-4 to halt a state court-ordered recount in Florida and effectively decided the election in Republican George W. Bush's favor. That case split the court's majority conservatives and four liberals.

In 2000, only 537 votes separated Bush and Democrat Al Gore in Florida, and the winner of that state would become president.

Even so, the court was heavily criticized for its decision, especially the admonition that the opinion was “limited to the present circumstances” and not to be cited as precedent. It hasn’t been since.

This year, the election did not turn on the outcome in one state, or even two. Trump would have had to reverse Biden wins in at least three of the six battleground states the president has complained about since the election. Arizona and Nevada are the others, though neither was included in the Texas lawsuit.

Two years ago, Chief Justice John Roberts derided Trump for derisively using the term “Obama judge” to complain about a court ruling he didn’t like. Roberts said then that judges are not in the pocket of presidents who appoint them, even if they tend to share a judicial philosophy.

With such a weak argument and a big ask of the court, the Trump-backed lawsuit the court easily dismissed didn’t come close to putting Roberts’ assertion to the test. AP

Pro-China news channel in Taiwan taken off air

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AIPEI, Taiwan—Employees and supporters rallied for a Taiwanese pro-China cable news channel as it was taken off air on Saturday, after the government refused to renew its license, citing accuracy issues.

CTiTV's channel 52 broadcast a countdown and then went black after midnight. The cable network, whose non-news channels were not affected, plans to continue putting news on YouTube and other digital platforms.

A large crowd chanted “Hang on, CTiTV” and held up signs reading “Thank you CTiTV, we will see you again.“ Employees, some tearing up, sang songs and swayed in unison wearing matching blue windbreakers.

Liao Chia-yu, a language teacher, said she would keep watching CTiTV on YouTube. “I also hope they don‘t forget their ideals," Liao said.

"They should put out whatever they want, and report on the truth.”

The National Communications Commission cited repeated violations of rules on accurate reporting in rejecting the renewal last month.

The station has been fined 25 times in the past six years for spreading inaccurate information.

The station is owned by the Want Want China Times media group, which also publishes one of Taiwan's main newspapers. It has long been associated with a Beijing-friendly po-

litical view, attributed partly to its extensive business interests in China.

China regards democratic Taiwan as a breakaway province that is part of its territory and has been upping its threats to bring the island under control by force as economic and political enticements bear little fruit.

In its ruling, NCC Chairman Chen Yawshyang made no specific allegations of a pro-China bias, but said the channel appeared susceptible to outside influence.

“The biggest problem is external interference into the TV station’s news production and broadcasts,” Chen said in announcing the denial of the renewal.

CTiTV appealed the denial unsuccessfully and accused the Taiwanese government of endangering media freedom.

Reporters without Borders, a media watchdog group, said in a statement that the decision did not go against press freedom, but expressed regret over its impact on the station's staff.

CTiTV owner Tsai Eng-meng, addressing the crowd, said, “To each who support us, CTiTV, maybe after we soon switch to become a new media, there will be things that we need to improve. But I feel that we will slowly become better and better.” AP

Monday, December 14, 2020

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Lofty goals get reality check at Climate Ambition Summit

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ive years after the world signed the landmark Paris Agreement to avoid dangerous global warming, political momentum is building. But the lack of near-term detail means the planet is still on track for climate catastrophe.

The six-hour Climate Ambition Summit on Saturday threw the problem into sharp relief: activists were eager for China to put some meat on the bones of its bold 2060 carbon neutrality pledge. They were disappointed. One country after another failed to raise the bar, as leaders offered only incremental steps.

“As encouraging as all this ambition is, it is not enough,” said Alok Sharma, UK Business Secretary who is also president of the next round of global climate talks in Glasgow next year, known as COP26.

The underwhelming summit puts more pressure on Presidentelect Joe Biden, who is expected to assert US leadership on climate change when he takes office— starting with rejoining the Paris deal. As political and corporate leaders jostle to prove how progressive they are on the issue, the challenge is getting them to make specific, short-term commitments that back up their impressive sounding long-term goals.

Countries’ level of ambition should increase between threeand five-fold to deliver on the Paris pledge to try and limit warming to below 2 degrees Celsius, according to the United Nations Emissions Gap Report.

“We know we’re in a race—be that a sprint or a marathon—and what’s critical is momentum,” said Rachel Kyte, dean of the Fletcher School at Tufts University, and a former UN climate envoy. “We are not moving fast enough, but we are moving.”

While greenhouse gas emissions will fall a record 7% this year as the pandemic hit economic activity, the dip will only result in a 0.01 degree Celsius reduction of global warming by 2050, the UN said.

Biden wants to convene a summit within his first 100 days in office to convince some of the world’s biggest emitters to step up, and set a net-zero target for the US for 2050. His plans mean that 70% of the world economy will have made commitments to be carbon neutral by 2050 or 2060. In the private sector, companies from asset managers to oil majors have set long-term targets to eliminate

carbon emissions.

The European Union and UK went into the summit with new emissions pledges in hand—in the EU’s case after a diplomatic tussle. Some of the more ambitious pledges by 75 the nations and companies on Saturday included: n Argentina and the Vatican pledged carbon neutrality by 2050. n Pakistan will stop building new coal-fired power plants, and set a goal to get 60% of its power from renewables by 2030. n Peru pledged to cut emissions 40% by 2030, up from a previous target of 30%.

But more limited announcements were: n President Xi Jinping said China would seek to cut emissions per unit of GDP by more than 65% from 2005 levels by 2030, slightly raising the previous target of cutting pollution by 60% to 65%. n India’s Narendra Modi reiterated his commitment to increase renewable power capacity to 450 gigawatts by 2030. n Italy will donate 30 million euros ($36 million) to the UN Adaptation Fund. n Austria promised 100 million euros to the Green Climate Fund. n Tim Cook said 95 of Apple Inc. suppliers committed to transitioning to renewable energy.

The biggest challenge for Biden and the COP26 hosts ahead of the Glasgow summit will be convincing world leaders who champion fossil fuels to make a u-turn. The leaders of Brazil, Russia, and Australia were not invited to speak on Saturday after the UK and their cohosts France decided they hadn’t come forward with bold enough pledges.

Until Friday, Brazil’s government had been preparing for President Jair Bolsonaro to speak and did not expect his name to be left off the agenda, two people familiar with the matter said. Their surprise underscores how wide an expectation gap still remains between climate-aligned countries and laggards who have so far been able to avoid too much scrutiny on the international stage.

Brazil’s environment ministry said this week it set a new goal to zero out carbon dioxide emis-

French President Emmanuel Macron speaks during the Climate Ambition Summit 2020 video conference at the Elysee Palace in Paris on Dec.12, 2020. World leaders are staging a virtual gathering Saturday to celebrate the 5th anniversary of the Paris climate accord, which set a goal for keeping global temperatures from rising above levels that could have devastating consequences for mankind. Yoan Valat, Pool via AP

sions by 2060 or sooner—if it can raise $10 billion a year from other countries.

Even after new pledges, rich countries risk failing to meet a target set five years ago to mobilize $100 billion a year by 2020 to help poor nations deal with the worst impacts of climate change.

And at home, funds aren’t being deployed as well as they could be, according to UN Secretary General Antonio Guterres.

“So far, the members of the G-20 are spending 50% in their stimulus and rescue packages on sectors linked to fossil fuel production and consumption, than on low-carbon energy,” he said.

“This is unacceptable.”

Meanwhile, World Resources Institute Executive Vice President and Managing Director Manish Bapna issued the following statement: “The climate targets China announced today offer a down payment towards its historic pledge to reach carbon neutrality before 2060. To fulfill its goal to reach net-zero carbon emissions before 2060, China should commit to stronger near-term targets ahead of the COP26 summit next year.

The strengthened renewable energy, carbon intensity, and forest targets are steps in the right direction, but recent WRI analysis shows that China would benefit more economically and socially if it aims higher, including by peaking emissions as early as possible.

“A recent WRI report shows that China can stabilize its emissions by 2022 and begin reducing them after 2026. It has strong economic and social incentives to follow this approach. By putting in place a suite of smart climate policies, WRI research shows that China can generate savings of

$530 billion in fuel, operation and maintenance costs over 30 years.

What’s more, strong climate action could save nearly 1.9 million lives in China and generate roughly $1 trillion in net economic and social benefits in 2050.

Without strong climate action, China will miss out on opportunities from a healthier and more efficient economy.

“China also needs to take swift action and set specific targets to slash methane, nitrous oxide, HFCs and other greenhouse gases which are warming the planet substantially. Reining in and eventually phasing out non-CO2 emissions is essential for China to get on a pathway that is compatible with limiting global warming to 1.5°C. “We welcome China’s commitment to increase its forest stock by 6 billion cubic meters compared to 2005 levels. Nature-based solutions like forests play an important role in any climate plan by removing carbon from the atmosphere.

“It is highly encouraging that President Xi called for a green recovery to the Covid-19 crisis at the United Nations General Assembly in September and again today at the Climate Ambition Summit.

We look forward to China aligning its domestic and foreign investments in a manner that puts this commitment into practice in the months ahead.

“The European Union and the United Kingdom just unveiled bold emission reduction targets for 2030 that are good for the economy. They are strong examples of the leadership we need to combat the climate crisis. It is now up to China to take bold, near-term actions to achieve a cleaner and prosperous net-zero carbon future.”

Bloomberg News

Indonesia arrests suspected leader of Jemaah Islamiyah

J

AK ARTA, Indonesia—Indonesian police have arrested a man believed to be the military leader of the al-Qaida-linked Jemaah Islamiyah network who has eluded capture since 2003, authorities said Saturday.

Aris Sumarsono, known as Zulkarnaen, was arrested late Thursday by counterterrorism police without resistance in a raid at a house in East Lampung district on Sumatra island, said National Police spokesperson Ahmad Ramadhan.

Zulkarnaen is suspected of being involved in the making of bombs used in a series of attacks, including the 2002 Bali bombings that killed 202 people, mostly foreign tourists, and a 2003 attack on

the J.W. Marriott Hotel in Jakarta, Indonesia's capital, that killed 12, Ramadhan said.

He said Zulkarnaen, a biologist who was among the first Indonesian militants to go to Afghanistan for training, is also accused of harboring Upik Lawanga, another bomb maker and a key Jemaah Islamiyah’ member. Lawanga was arrested by counterterrorism police in Lampung last week. He had eluded capture since 2005 after being named as a suspect in an attack that killed more than 20 people at a market in Poso, known as a hotbed of Islamic militancy on Indonesia's Sulawesi island.

"He is in custody and being questioned by investigators," Ramadhan said of Zulkarnaen, add-

ing that police are still conducting an investigation at his house in Lampung.

Police said they were tipped off to Zulkarnaen's location in raids after interrogating several suspected militants arrested late last month.

Since May 2005, Zulkarnaen has been listed on an al-Qaida sanctions list by the U.N. Security Council for being associated with Osama bin Laden or the Taliban.

The Security Council said that Zulkarnaen was one of al-Qaida's representatives in Southeast Asia and one of the few people in Indonesia who had had direct contact with bin Laden's network.

It said that Zulkarnaen led a squad of fighters known as the

Laskar Khos, or Special Force, whose members were recruited from among some 300 Indonesians who trained in Afghanistan and the Philippines.

He became operations chief for Jemaah Islamiyah after the arrest of his predecessor, Encep Nurjaman, also known as Hambali, in Thailand in 2003.

In the following decade, Indonesian security forces crushed the Jemaah Islamiyah network, supported by the US and Australia, killing leaders and bomb makers and arresting hundreds of militants.

But a new threat has emerged in the past several years from Islamic State group sympathizers, including Indonesians who traveled to the Middle East to fight with IS. AP

A8

Monday, December 14, 2020 • Editor: Gerard S. Ramos

Show BusinessMirror

www.businessmirror.com.ph

The men of MMFF 2020

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Vanessa Hudgens, 32; Sophie Monk, 41; Beth Orton, 50; Dee Wallace, 72.

CLOCKWISE: Alfred Vargas, Michael de Mesa, Paolo Avelino, John Arcilla, Phillip Salvador and Jake Ejercito

HAPPY BIRTHDAY: Pay attention to detail, and choose your words wisely this year. You will be misled by someone who isn’t trustworthy if you are gullible.

Getting facts straight and being honest and articulate will help you end pending problems and replace them with the success you desire. Evaluate relationships, consider who brings out the best in you and make adjustments. Your numbers are 2, 10, 18, 23, 33, 38, 42.

W

ITH 10 films in the official list of entries for the coming Metro Manila Film Festival (MMFF) slugging it out to get their fair share of the nontraditional movie audience, producers are currently in a frenzy on how to market and promote these films properly.

These are indeed extraordinary times and for the first time in the history of this annual yearend festival, it’s going to be a special streaming edition, available only through online viewing, with Globe and Upstream as the MMFF’s partners and technology providers.

Star power will then take on a slightly different meaning because the masses would no longer be the main target. Instead, the shift will be towards reaching out to the members of the middle class who are willing to dole out P250 for each movie they’d like to watch online. Festival fixtures Vic Sotto, Coco Martin, and Vice Ganda are taking a break this year, giving way to other lead actors to experience the spotlight in this annual festival.

Rep. Alfred Vargas wears two hats in his entry Tagpuan, as lead actor and producer. This interesting contemporary love story, penned by the illustrious screenwriter Ricky Lee and directed by Mac Alejandre, was partly shot overseas, and it gives film aficionados another chance to rediscover the under-utilized acting capabilities of the three time Urian-nominated actor-politician for the films Teoriya, Colorum and Bridal Shower.

It was the brave and straight-forward script of Lee that convinced Vargas to invest in the movie. “Ricky Lee’s characters are real and relatable. His narrative is compelling without any effort to be complicated.

It presents a love that transcends conventions and judgment. I hope that many will get the chance to see the film that is beautifully helmed by Mac Alejandre.�

ARIES (March 21-April 19): Put an emphasis on learning and implementing what you discover into your daily routine. A lifestyle change looks promising as long as you verify the information and leave nothing to chance. Dealing with institutions will lead to confusion and uncertainty. ★★★

TAURUS (April 20-May 20): Dare to be different. An innovative approach to how you do your job and handle others will boost your reputation and encourage others to support your efforts.

Address matters that have been left unresolved, and you’ll get your way. ★★★

GEMINI (May 21-June 20): Be careful who you trust. Someone will give you the wrong impression or lead you on a wild goose chase if you aren’t careful. Ask questions, do your research and take nothing for granted. ★★★

Paolo Avelino gets the rare chance to play himself in the Antoinette Jadaone movie Fan Girl, about misadventures of a young movie fan obsessed with her idol. The movie has already made the rounds of international festivals in Tokyo and Estonia. “It is not as easy as I thought it would be,� the actor said about playing himself in the movie. “It’s actually the reason why I agreed to do the project because it presents different layers of challenges as an actor,� he shared. Avelino also admitted that he was required to do a delicate full frontal scene for the movie.

Phillip Salvador and Michael de Mesa bagged important roles in the Joel Lamagan movie Isa Pang Bahaghari, pitting talents with the country’s iconic actress Nora Aunor. The movie was submitted for last year’s edition of the MMFF but failed to land a spot.

Aunor’s fans are hoping that the best revenge is to see the film score big wins in the awards ceremonies scheduled after Christmas. The movie also features Zanjoe Marudo, Migs Almendras, Albie Casiùo and

Joseph Marco.

Character actor John Arcilla is not expecting that his new character about a healing priest will match the popularity of his now legendary turn in Heneral Luna: “Our goal is to share this inspiring story, and how faith can spell the difference in the most challenging of times and situations.� Arcilla plays the titular role of the late Father Fernando Suarez under the direction of Joven Tan, and he is ably supported by Rosanna Roces, Yayo Aguila, Dante Rivero, Rita Avila, Perla Bautista, Allan Paule and Biboy Ramirez.

Looker Jake Ejercito is testing the waters in the Adolfo Alix, Jr. movie Coming Home if he is cut out for more challenging acting jobs in the future. Ejercito, who became controversial when he was thrown into a complicated romantic liason of Andi Eigenmann years ago, is the son of former president and actor Joseph Estrada and former actress Laarni Enriquez.

The movie also stars his half brother Jinggoy Estrada and his nephew Julian Estrada. â–

Alden sets record with sold-out VR concert TOP star Alden Richards not only made his fans’ hearts flutter but also made history with the first-ever virtual reality concert in the Philippines via the highly successful Alden’s Reality: The Virtual Reality Concert.

Held in three timeslots on December 8 and 9, GMA’s sold-out show enabled Alden’s supporters from all over the globe to celebrate with him as the GMA actor marked his 10th anniversary in the entertainment industry.

And unlike usual online concerts, Alden’s Reality gave them a taste of what the future of concert shows would be. It combined cuttingedge technology and performances to produce a full-length concert and an immersive interaction with their idol right from the comforts of their homes. A virtual date like no other, the show began with Alden waking up in

his house and inviting his “date�—the concertgoer—to join him as he navigated Alden’s Reality. He then set the mood up by dancing to catchy songs popularized by some of the world’s most loved boybands. Joining him were his friends Rodjun and Rayver Cruz.

Alden then went on to answer questions just like he was having a one-on-one conversation with his “date,� sharing his innermost thoughts and reminiscing about his ups and downs in the past. From his heartfelt rendition of “God Gave Me You� to performing his latest single “Goin’ Crazy� and dancing to the beat of BTS’ “Dynamite,� Alden only showed how he has grown as a performer on stage.

Alden’s Reality also saw the multimedia star looking back on his career as an actor and thanking all his former leading ladies. In this segment, OPM band December Avenue joined Alden on stage. Greeting him on his 10th year in showbiz were fans and friends in the industry, including Sanya Lopez, Christian Bautista, Mark Bautista and Betong Sumaya.

Alden’s fans and friends further showed their support to the actor as they shared their experience online. The hashtag #AldensReality became the top trending topic on Twitter Philippines.

Twitter user @rfjfan shared: “I actually enjoyed that. I liked the songs, the dance numbers, the intimate conversations. I’m so glad I was able to move to the YT link coz then it was like a VR, I could follow A everywhere. Thanks

@aldenrichards02.�

Another netizen, @zhymrssl tweeted: “Thank you so much po sa @GMASynergy @gmanetwork and sa @Ticket2MeNet for Alden’s Reality Virtual Concert. Sobrang bitin pero napaka-worth it talaga. And btw, congrats and happy 10th anniversary @aldenrichards02 ang galing!� “We would like to congratulate Alden for setting a new record of being the first Filipino artist to stage the first-ever virtual reality concert in the Philippines,� said GMA Regional TV and Synergy Vice President and Head Oliver Victor Amoroso. “We are honored that we made history in Alden’s Reality with no less than Asia’s Multimedia Star headlining the show as part of his 10th anniversary in the entertainment industry.

We would also like to congratulate all the people who we had the pleasure of working with for this project. This is only the beginning. Expect bigger surprises from Synergy in the future,� he added.

Directed by Paolo Valenciano, Alden’s Reality is produced

by Synergy: A GMA Collaboration, a group that produces ticketed and non-ticketed events and activities catering to all Filipinos across the globe. The concert also served as the network’s treat to loyal public for its 70th anniversary. Alden’s latest single under GMA Music and FlipMusic Productions, “Goin’ Crazy� also topped iTunes Philippines and is currently included in Apple Music’s “Absolute OPM Playlist.�

CANCER (June 21-July 22): Dig in, and don’t stop until you finish what you start. Channel your energy into work and getting ahead, not into negativity or arguing with someone. Avoid joint ventures, and be careful when divvying up shared expenses. Focus on fair play. ★★★

LEO (July 23-Aug. 22): Hone your skills, and improve the way you live. Don’t let the changes others make influence you to follow suit. Do what’s best for you, and speak up about how you feel and what you plan to do. ★★★★★

VIRGO (Aug. 23-Sept. 22): Domestic issues will turn into an emotional tug-of-war if you disagree with someone close to you. Pause and consider every angle of a situation before you take action. ★★

LIBRA (Sept. 23-Oct. 22): Busy yourself with something that excites you. Pick up a new hobby, reconnect with an old friend through social media or sign up for an online course that can lead to additional income. Resolve a matter concerning a friend or relative. ★★★★

SCORPIO (Oct. 23-Nov. 21): Refuse to let anyone put limitations on you or what you can do. A personal change to the way you look or take care of yourself will give you the wherewithal to make an overdue change that will improve your life. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Don’t play games or participate in activities that might affect your reputation, position or status. Truth matters, and verifying facts will be what saves you from a bad situation. Focus on fitness, health and doing your very best. ★★★

CAPRICORN (Dec. 22-Jan. 19): Gather information before you make a move. Look over contracts, negotiate your position and get what you want in writing to ensure no one takes advantage of you. A mistake will lead to uncertainty and domestic problems. ★★★

AQUARIUS (Jan. 20-Feb. 18): Check in with people you have successfully collaborated with in the past, and an exciting point of view that helps you overcome a setback or uncertainty you’ve been facing will come your way. ★★★★

PISCES (Feb. 19-March 20): Stick to what and who you know you can trust. Someone will mislead you to get a competitive edge. Don’t share your plans prematurely, or someone will take over. Concentrate on perfection, discipline and creating opportunities. ★★ BIRTHDAY BABY: You are energetic, resourceful and determined.

You are smart and persuasive.

‘deep freeze’ BY DAVID ALFRED BYWATERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Darned things 6 Cartographical creations 10 Person who calls the shots 14 Title for Macbeth or Macduff 15 Declare assuredly 16 Vocal quartet member, maybe 17 Architectural afterthought 18 Heavenly 20 A dog might bury one 21 Clamor 22 Compete 23 Coveted statuette 25 All finished 27 Faucet label 29 Cease or desist 31 Movie enhancement tech.

32 Starter for “Pen�

33 “Pay ___ mind�

34 Fish hawk 38 Tie, as a boot 40 Passenger ship 42 Rescue 43 Word that makes a request polite 45 Metal in some cold remedies

47 Up to, in ads 48 HBO alternative, briefly 49 Ton or teaspoon 50 90-degree bend 51 Cry after a countdown 55 Young New England fish 57 Wedding words 58 Recently 60 Cover with paper 63 Try to make a deal 65 Snail trail 66 Paint incompetently 67 Chase competitor, informally 68 Intel-gathering mission 69 European range 70 Pizzazz 71 Prow : front :: ___ : back DOWN 1 Poke with a pitchfork 2 “This is terrible!�

3 Announcement printed on a soda holder?

4 Leg joints 5 “On the Basis of ___�

6 Pasta on a child’s necklace

7 With, in French 8 Bohemian dance 9 Appreciative exclamation during an architectural tour?

10 Furry flyer 11 “Drab� color 12 Wood furniture application 13 Rubber-___ boots 19 Doe mates 21 Baby toy manufacturer’s subdivision?

24 Show that had a Miami spinoff 26 Puppy bites 27 Aid 28 Iridescent gem 30 Tart Japanese sauce 35 Evaluated a Chinese food staple?

36 Good competitor?

37 Holler 39 Toward the sunrise 41 Brainiac 44 Film on a movie set 46 Middle: Abbr.

51 “Blue Bayou� singer Ronstadt 52 Without drawbacks 53 Become hard to see through

54 56 59 61 62 64 65

Struggle helplessly Little bird with big eyes Word before “boy!� or “girl!�

Omnia vincit ___ (love conquers all) Quakers’ Philly school Delivery docs Jrs., next year

Solution to Friday’s puzzle:

Style

BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Monday, December 14, 2020

A9

Rose Santiago Licup: Glamour and generosity Rose Santiago Licup in Eddie Baddeo

Gifts from the sea and the forests: lustrous pearls, elegant minaudiere with a gold spun floral clasp, and a wooden watch box.

Philippine Eagle designed tote and pouch from Davao.

Gifting local this Christmas BRING the heritage, artistry, and taste of the different regions of the Philippines to family and friends with gifts from the heart from Kultura.

At a time when most of us are relatively homebound, these curated and artisanal gifts take you on a virtual road trip to your favorite cities in the Philippines which you hope to visit during better times. Send these to your loved ones abroad who long to be home for Christmas, to friends who wish to add a homespun touch to their home office, or to foreign business associates who want to know more about our country.

There are woven wonders and handcrafted woodworks from beautiful Baguio...exquisite South Sea pearls, handwoven piña silk bags and scarves, and decorative etched wood carvings that highlight pristine beauty of Palawan...gifts from the sea from Cebu, the Queen City of the South...and T’boli brass accessories, Ikat designed pieces, and world-class chocolates from Davao.

These gifts from home can now be shipped worldwide. More ideas for uniquely Filipino holiday gifts can be found at www.kulturafilipino.com.

Piña silk clutch bag and scarf, timeless South Sea pearls and decorative etched wood carvings from Palawan.

R

ose Santiago Licup, a rising mover of the country’s philanthropic class, is relentless. She makes use of her wellspring of resources—time, energy and money— efficiently and gracefully. Known as “Pink Rose,” she has a bouquet of advocacies. She is the academe ambassador of the Manila’s Best Dressed, a group of glamorous women that raises funds to build churches and schools. She also lavishes her blessings on the Manila Girls Home, Home for the Aged Marikina, and the Hallway Center for Pediatric Cancer Children.

Licup started the year with the Queen of Hearts Foundation, assisting in the distribution of relief packs for those affected by the Taal Volcano eruption. When Covid-19 hit, she sent assistance to communities in Sibuyan, Romblon, and her native Quezon Province.

“We spent the whole lockdown period at home.

It was really a big adjustment to all of us. This new normal gives us a lesson to love and value life more, and we all realize the importance of family,” Licup says. “A good thing that happened during this pandemic is that God taught us how to live simply and to pray always.”

As restrictions are being eased, she assumes her role as a hands-on philanthropist. She ensures that parishioners, especially the elderly, experience less hunger at San Lorenzo Ruiz de Manila Church, Kamay ni Jesus in Lucban, Baclaran Redemptorist Church, and Santo Domingo Church in Quezon City.

Flexing her fund-raising prowess, she also helps and coordinates with the Quezon Province Provincial Police, Philippine National Police, and the National Capital Region Police Office in handing out toiletries, face masks, PPEs, food packs and school supplies.

All for the Covid-vulnerable and Typhoon Ulysses victims. As early Christmas presents, she sent boxes of apples to Bahay Aruga; distributed school supplies, sanitary napkins, diapers and fish outside Baclaran Church; and protective gear for doctors at Candelaria Health Clinic.

“I gave away 3,000 face masks everywhere. I still have 300 pieces of blankets and toiletry packs that I don’t know yet where to distribute,” Licup explains.

She may have become a prominent presence int the fashion gala/charity circuit, but Licup

says her passion for philanthropy was sparked in the provinces. Her family (husband Henry, and children Cathy, Cindy and Harry) own poultry farms in Batangas and Quezon, and a subdivision in Candelaria.

“I’m surrounded by many factory workers. I became interested together with my family and friends to volunteer in reaching to the less fortunate.

It became my mission. I love helping them,” says Licup, who also previously owned Yasubei Japanase Restautant and Pearl Marina Spa. This year, gala fundraisers fell victim to Covid-19.

In prior years, Licup was almost always clad in highfashion creations by the late Eddie Baddeo, of whom

she was a muse. Her other favorites are Lloyd Arceo, Leticia Herrera and John Guarnes. She appeared lately in a virtual fashion show by upcoming designer Vince Borja.

“When it comes to charity, since I was involved in many charity works way back when I was still young, I treat such events seriously. I know all fundraisers have one goal, and that is to help. I choose the ones with a genuine purpose and with a heart, a heart that is willing to extend more support for the benefit of all recipients,” explains Licup. n HAIR AND MAKEUP BY AUDIE BERMEJO PHOTOGRAPHED BY ALLEN CABS AND HENRY FERRER

An artist’s vision translated to fashion and purple hues that mimic the lunar-theme of the album. The garments feature NIKI’s signature Moonchild logo across the back.

I remember this Korean drama where the leading man received a GUESS shirt as a birthday present from his brother and the reason why his friends knew it was a fake was because the name on the shirt was “GUESS” and not “GUESS?” I’m glad to know that GUESS is still a cool brand.

I’ve kind of lost touch with it after the Anna Nicole Smith era but I’ve always loved the brand’s aesthetic.

The news about the brand is that GUESS? Inc. has launched the GUESS Originals x NIKI “Moonchild” capsule, a nine-piece collection that will launch in the Philippines at www.guess.com.ph tomorrow with instore availability on December 19.

The brand and 88rising have a three-year joint history of supporting artists while creating merchandise and collections around cultural moments. To celebrate NIKI’s debut album, Moonchild, GUESS Originals in collaboration with the Indonesian singer, created a limited capsule that brings the artist’s vision to life.

“To have my own GUESS Originals x NIKI ‘Moonchild’ collection is like a fever dream!” said NIKI. “I used to play dress-up in my mom’s GUESS shoes and handbags as a little girl. I remember regularly perusing the stores with her as a teenager!

To see an album that I worked on for two years take on a new life in fashion is a dream come true!”

The GUESS Originals x NIKI “Moonchild” capsule ranges in price from P1,898 to P5,498. The collection includes a tank top that pairs with biker shorts in a constellation print. The rest of the collection is unisex and includes a selection of short sleeve T-shirts, hoodies, jogger pants and, baseball hats in the black

HEART BAGS ANOTHER AMBASSADORSHIP Heart Evangelista is a celebrity who’s known for being a style and beauty icon but she’s been getting endorsements and ambassadorships for brands not related to fashion and beauty.

The actress recently signed a multiyear deal to be the brand ambassador for RLC Residences, a real estate property brand under Robinsons Land Corp.

“We are raising the game in the property market with the upcoming launch of our new brand, RLC Residences, and Heart is the perfect representation of how we are elevating every aspect of our product and service standards,” said Architect Henry Yap, business unit general manager of RLC Residences.

“Launching a new brand into the market [during this time] is no easy feat, but we knew that tapping into Heart’s credibility, intelligence, beauty and standards of quality is the best way to move forward in communicating the exciting product features and services that goes into every RLC Residences development,” said Yap. For Heart, the partnership is something very close to her passions.

“This is something I am really excited about. For those who know me, I have always loved the concept of beautifying spaces and nooks at home. With RLC Residences, I hope to bring that to life.”

As RLC Residences’ brand ambassador, Heart will appear in an ad campaign slated for release early next year. This campaign will showcase RLC Residences’ innovative product offerings in the residential property scene.

Part of the partnership also includes Heart engaging with designers and collaborating with a number of influencers in different activities.

Heart Evangelista has a new brand ambassadorship

A10 Monday, December 14, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Uncle Sam: Not who he used to be

T

he 21st century has not been kind to the United States of America.

The US presidential election that began the century in 2000 was eventually “decided” by legal action that went to its Supreme Court. And 20 years later it is again the courts that will validate the voting results. There is nothing inherently wrong with that.

But the idea that the people vote, the votes are counted honestly leaving no room for doubt, and the stable transfer of power takes place is damaged.

Less than one year later, American innocence was destroyed with the September 11 attacks in New York, “The City That Never Sleeps.”

Shortly after, the US invaded Afghanistan to hunt down Osama bin Laden who was supposedly being protected by the Taliban. Some 20 years later, the US still has its armed forces in that country.

Within two years from the 9/11 event, the US invaded Iraq on the premise that Saddam Hussein had built “weapons of mass destruction” which proved at the best inconclusive and at the least outright false. The fact is that the US had its military fighting almost continuously—and every day of the Barack Obama administration – until the last few years. Yet despite its massive military power, the US has seen its global power to influence other nations decrease.

North Africa and the Middle East became disaster areas because of—not in spite of—US foreign policy. North Korea tested its first nuclear weapon in 2006. India and Pakistan, nuclear powers since the late 1990s, have both threatened to change their respective “no first use of nuclear weapons” doctrine.

The US had no impact on stopping China and its artificial island building in the South China Sea. Russia annexed Crimea virtually without any consequences.

The US economy was destroyed by the global debt crisis in 20072009 and the primary driver was incredibly bad US economic policy.

During five quarters, the US economy had negative growth. More importantly, the economic growth rate has never recovered to pre21st century levels. From US government debt being 20 percent of the nation’s GDP, it is now over 100 percent. In the mid-1970s, the US was a net exporter. Today, its trade deficit is $575 billion annually.

Someone once said that “adversity does not build character, it reveals it.” New York Governor Andrew Cuomo has announced that all indoor dining in New York City will be banned indefinitely due to a rise in Covid-19 cases.

The 100-year-old iconic 21 Club restaurant has permanently closed.

After a 79-year run, the Carnegie Deli is gone. The Paris Café next to the Brooklyn Bridge opened in 1873 and closed in 2020.

Yet, the US Centers for Disease Control And Prevention says that less than 2 percent of all Covid transmissions have come from restaurant in-door dining. Forget about character; where is the common sense? Nearly two-thirds of New York restaurants could be out of business as soon as January.

On the economic front, it took just 20 years for the US to go from accounting for about 40 percent of global production to less than 25 percent, as the rise of nations such as Japan then South Korea and Taiwan and finally China took over.

The US will obviously never be counted out. But like an elderly relative past his prime, Uncle Sam is growing a little dimmer every decade.

Preparing for employment in the age of AI Atty. Jose Ferdinand M. Rojas II

RISING SUN

T

he age of artificial intelligence might be closer than we think.

This early, if you are not preparing your career—or your children’s—for this new revolution, then you will most probably find the transition more difficult when it finally happens.

On the part of the government and educational institutions or the academe, the direction to take is more glaring: there is a shortage of programmers, data scientists, cyber security experts, IT specialists, etc.

To be able to fill the job vacancies of the future, it is crucial to focus more on computer science, tech and IT courses and training. Inclusive education in these fields and related studies is definitely the way to move forward. Even the current work force needs to upskill or re-skill to be able to retain employability status. The

organizations themselves should be heavily involved in this endeavor, along with learning centers and educational institutions.

Those who are in fields outside of IT and technology, like medical practitioners, for example, need to step up their game in the context of machine learning and big data.

A concept that needs to be examined, according to experts who are predicting the effects of automation on the economic lives of humans, is Universal Basic Income (UBI). It’s all about giving money to all citizens,

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but discussion on this merits a separate column space. Suffice it to say that there are already governments and private organizations that are testing this concept in small scale, despite the many hurdles to its full implementation.

The youth of today (Gen Z and even the millennials) are more thrilled than afraid of the future.

They are looking forward to collaborating with robots and having artificial intelligence become a huge part of their lives. And because this new world is going to manifest for sure,

it is crucial to arm our youth with tools and skills to be able to thrive in this environment.

The ability to work with teams and collaborate with others is an important skill to teach the youth.

Creativity, adaptability, ethics, and interpersonal skills—among others—are just some of the human qualities that need to be developed as well. These will enable more humans to take on jobs that are better suited for them, as opposed to their AI counterparts.

The schools, the teachers, the education agencies, parents, and the students all need an update in terms of understanding and interacting with data and learning. The concerned sectors have to invest in this endeavor to be able to realize great returns in the long run. This investment needs to happen now as change is currently happening at a dizzying speed.

Even if some experts estimate that we are many years away from full automation, there is nothing to lose if we increase our efforts today.

Rethinking public spaces in Metro Manila

Since 2005

✝ Ambassador Antonio L. Cabangon Chua

The schools, the teachers, the education agencies, parents, and the students all need an update in terms of understanding and interacting with data and learning. The concerned sectors have to invest in this endeavor to be able to realize great returns in the long run. This investment needs to happen now as change is currently happening at a dizzying speed.

Thomas M. Orbos

STREET TALK

O

ne realization that has emerged in this pandemic was the importance of public spaces in Metro Manila, such as parks, town centers, libraries and playgrounds. With most of us caught in extended community lockdowns, public spaces became the place that gave us that needed breathing space and the respite from being locked in our homes. It was our venue for that limited human interaction, albeit with social distancing, that we never knew we sorely needed before.

Unfortunately, we now know that we lack these public spaces, similar to the vanishing sidewalks, in many of our communities. Except for the wide-open pockets of green in the more affluent communities and the national parks, most of us Metro Manilans are but left with that mandatory basketball court, that are lorded over by only a few in the community. Gone are the open plazas and playgrounds that we used to remember in our childhood years. And as we are now going back into normalcy, this realization needs to be addressed by the government, knowing now that such simple element is essential to the basic survival of our communities.

We never knew this need for the simple reason that we never really “stayed” in our communities. We slept in them, yes; but most of our

conscious human activities, such as employment and schooling were mostly outside the confines of our communities. This is aggravated even further given the traffic we have in Metro Manila as we spent more time on the road. And when we hit weekends, our recreation and family time took us to the shopping malls that became the substitute for our public spaces. Instead of strolling in the park with our families and having family picnics, we did this inside the confines and comfort of these establishments. So much so that malls were built at a frenzied pace for the past decade and designed in such a way as a better substitute for the parks and plazas of yesteryears, with the gondola rides and ice skating rinks to boot.

But these malls were just fulfilling a need; something that we now real-

Our forefathers had it right with their city designs of the past, building that town plaza in the middle of the community. Now we realize why they had that for so many reasons—for leisure, for human interaction, for defense and control of invaders— both human and biological.

Moving forward let’s bring back those public spaces. It is essential to our well-being and survival.

ize in this pandemic. With most us now confined nearest to our homes, we realize and ask ourselves—where are our parks and playgrounds. Unfortunately, most were sold off or rented out at one point in time by our local governments. Some were privatized for commercial purposes, similar to the privatization of our public markets. Maybe not your present local administration, but definitely the selling of public space became systemic by most town and city governments. And on a barangay level, the empty space beside that basketball court that could have been enjoyed by the rest in the community became that gargantuan barangay hall—the standard bragging symbol of barangay officials.

Indeed, these are wrong priorities, but which can still be rectified, even this late in the day. In one previous article, I talked about the 15-minute city of which public spaces are essential. This is the direction that we need to take. Yes, indeed, having most ac-

tivities near our homes would prove to make our communities more resilient even in future pandemics. And it need not be expensive or dramatic.

Community spaces can be opened up creatively. Maybe closing redundant streets or opening up existing public spaces such as basketball courts to more equitable activities. But what we do need from government is the political will to undertake this. And it starts with the realization of our local executives that public spaces are essential and basic to the community. It is there embedded in our Constitution when it states the need for harmony and balance for all of us. Then maybe future budgetary allocations can be set aside for either securing or improving public spaces. And if need be, then creating or strengthening the needed statutes to make such public spaces happen.

Our forefathers had it right with their city designs of the past, building that town plaza in the middle of the community. Now we realize why they had that for so many reasons— for leisure, for human interaction, for defense and control of invaders —both human and biological. Moving forward let’s bring back those public spaces. It is essential to our well-being and survival.

Thomas “Tim” Orbos is currently a transport policy advisor for an international organization and worked in government on transport and urban development matters. He is an alumnus of Georgetown University and the MIT Sloan School of Management. He can be reached via e-mail at tmo45@ georgetown.edu.

Opinion BusinessMirror

www.businessmirror.com.ph

Towards digital success in the new normal

Color blind Siegfred Bueno Mison, Esq.

THE PATRIOT

Dorelene V. Dimaunahan

DEBIT CREDIT Part three

I

N the world of digital, the term “digital operations” is not as common as compared to the other functions of management. According to the Boston Consulting Group, digital operations focuses on the customers’ journey, the end-to-end business processes, as well as IT operations that support the enterprise.

Successful business models are definitely a result of standardized and efficient business processes.

Simply put, a business process is a series of steps that are done in order to achieve the business’s objectives.

Without a good process flow, there is higher risk for failure.

In the previous topic on digital marketing and digital sales, the focus was on the customer. However, it is important to note that all functions of management are intertwined with one another. Although customer needs and wants are key, the “back end” process must still continue to play its role.

In fact, no business can exist with mere sales, marketing or human resources. There must be balance between the “front end” and “back end” side of the business, to ensure that management of all stakeholders’s experiences are met.

Today, the advent of technology has made digitizing of operations much easier. Yet, setting this up requires a lot of work. First, top management must be willing to invest in change management and become highly strategic in investing in the right type of software and hardware that fully match the

business. Second, employees must undergo training, so as to understand the role of digital operations and not just be familiar with running the application per se. Third, cross functional collaboration must become part of the culture of the entire company.

It may sound exciting and complicated at the same time, but once business processes are intact, digital operations management becomes successful. As cited by the Boston Consulting Group, “digitization, when done right and at scale, yields in a 10 percent and 20 percent reduction in production and supply chain costs, a 15 percent to 30 percent reduction in working capital and incremental revenue growth of up to 6 percent, as a result of enhanced productivity.”

To be continued Dorelene Dimaunahan is an entrepreneur, educator of the country’s top universities, a host and an author. She is also a Certified Franchise Executive, Certified Management Accountant and a Certified Human Resources Practitioner.

This column accepts contributions from the business community. Articles not exceeding 600 words can be e-mailed to boa.secretariat.@gmail. com.

T

he classic children’s rhyming poem “Roses Are Red” may have taken on a new fragment for color blind people: “Roses are brown, violets are grey.” Levity aside, people with color vision deficiency actually do see color, but in a much narrower range.

It is calculated that a person with normal color vision can see up to a million distinct shades of color, but a person who is color blind may see as few as just 10,000 colors. The crucial indicator of this condition is color confusion—when someone mistakenly identifies a color, for example calling something orange when it is actually green.

In the socio-political arena, color confusion may be perceived as spotting a person to be of a certain “color” (or classification) when he is in fact of a different hue (or category). To me, red-tagging is erroneously predicated on a feeble fabric of speculation, for the most part. I fully support the good intentions of our military to end the world’s longest insurgency, waged by the Communist Party of the Philippines and the New People’s Army. However, this so-called colorlabeling these days has reached the boundaries of recklessness. For beyond the solipsism of self, the government extended its psychological reach and apparently plucked any alleged fruit of left-leaning color from the tree of diverse personalities as it fancied. Resolved by way of an apology, the fact remains that Lt. General Antonio Parlade “red-tagged” actress Angel Locsin and her sister as communists. Again, much as I am united with my PMA classmate for his relentless efforts to end this halfcentury insurgency, I cannot blindly subscribe to the means by which said goal is executed. Recklessly labeling people with little or no basis has become extremely dangerous as the person labeled as a communist or a drug lord stands to lose his life!

Jory Porquia, Randall Echanis,

Zara Alvarez and Carlito Badion are some of the social activists who were killed this year alone. I hardly know the extent of their participation in the insurgency, but prior to their untimely deaths, these militants were branded as communist-terrorists.

When I was in the intelligence service, we considered a person who espouses communism as a terrorist—a threat to national security. But we were careful back then in considering a left-leaning person as a communist.

While both are arguably inimical to national interest, their motives and activities are not the same.

The latest public hearings in the Senate are triggered by the current military practice of lumping government critics/protesters/opposition as supporters/recruiters/sympathizers of the communist insurgency.

During these hearings, the National Task Force to End the Local Communist Armed Conflict (NTF-ELCAC) boldly declared the existence of an incalculable communist permeation in the civil society as supposedly personified by opposition lawmakers, vocal church authorities, and even some actors and beauty titlists. Judging from the evidentiary accounts so far presented, there seems to be color confusion, as either the proof hitherto proffered is deficient or it

Monday, December 14, 2020 A11

rests on circumstantial explication.

Undoubtedly, the persons red-tagged may even turn out to be clear as white! In the interim, the fact of being labeled as “red” exposes them to such a serious danger akin to a barking stray dog being gunned down for being labeled as a nuisance—shoot on sight!

Red-tagging seemingly follows the pattern of being amalgamated into the narco-list under the present administration. Disturbingly, merely on the basis of any unverified information, a person can land on the authorities’ drug list, which can be taken as a hit list for “over-zealous” government security forces. Expectedly, this has alarmingly resulted in a deadly and bloody crusade. Teenager Kian Delos Santos was killed because of this strategy as he was murdered in 2017, at close range near his family abode after the police obtained unreliable information that Delos Santos was a drug courier. Although the three police officers involved were found guilty of murder, which is a rare occasion in the midst of a drug war that has taken the lives of many, still the life of Kian was brutally and needlessly cut short.

Echoing the words of one journalist, “There are alarming similarities between red-tagging and identifying those involved in illegal drugs: both subject their victims to violence based on mere suspicion, both are direct products of policies put forward by the president himself, both unleash the brutality of the armed forces, and both have a harrowing effect of justifying impunity.” Truthfully, the present administration is treading on a hazardous path as it lumps together the two issues of redtagging and narco-listing. Mere association alone is tantamount to guilt, and guilt warrants the application of an unpardonable force without regard to law or human rights.

Whenever true colors are mistaken for another hue, then trouble looms on the horizon. However, color blindness, which leads to reckless

Even Covid-19 can’t stop The pros and cons of a long life the Christmas wars

By Reynaldo A. de Dios

By Stephen L. Carter Bloomberg Opinion

I

n this season of Covid-19, let’s begin our tour in Delaware, where Governor John Carney has backed off on restrictions that churches and other religious institutions had challenged in court. The problem wasn’t that the governor was regulating churches but that he was regulating churches in ways that he wasn’t regulating similar institutions. For instance, religious gatherings had age limits but secular gatherings did not, leading the editorial board of the Wall Street Journal to quip, “So gramps could go out to buy a quart of vodka but not to pray.”

Such settlements as these are easily misunderstood, as we can judge from the somewhat histrionic response to the Supreme Court’s much-maligned and much-misunderstood November order prohibiting New York to enforce pandemic regulations singling out religious groups for special restriction.

Among other rules, houses of worship located in designated “red zones” were restricted to 10 congregants at a time, but factories, garages and acupuncturists could admit as many people as they liked. The justices didn’t rule that the First Amendment requires treating religions better than other institutions, only that they can’t be treated worse.

It’s silly to refer to all this as “saving” Christmas, the way some people apparently have, because Christmas has never been in danger. What we’re fighting about is particular ways to celebrate the season. In Columbia, Maryland, the annual drive-through Christmas display known as the Symphony of Lights is threatened by a lawsuit claiming that the event interferes with pedestrian access and that automobile exhaust will harm the trees. I care about trees and I’m a great believer in walking, but in this year of Covid, staying in the car might be a good way to keep safe. I’ve turned

up no reported decisions in the case, and the Symphony of Lights appears to be continuing unhindered.

In the war for Christmas eyeballs, the Hallmark Channel is, as usual, battering all competition. A few short months ago, observers wondered whether, given virus restrictions on production, Hallmark would be able to produce anything like its usual ambitious slate of upbeat holiday films. The answer is a resounding yes.

True, the rules under which production had to operate have led to such pandemic-year changes as “fewer crowd scenes” and “fewer people at the Christmas tree lighting.” Nevertheless, the network’s light, happy films are trouncing both such cable stalwarts as “Fear the Walking Dead” and a long list of regular network fare besides. Perhaps in this grim year of 2020, people just want to smile.

Christmas wouldn’t be Christmas without litigation over what sort of holiday scene a community can display. This year’s big case arises in Indiana, where in April a federal judge found that Jackson County’s annual holiday display on the grounds of the courthouse was weighted too heavily toward the religious rather than the secular aspects of the season.

Last month, the county asked the judge to stay the earlier order pending appeal. She refused. The judge pointed out, correctly, that she had not ordered “the wholesale removal of the Nativity scene” but instead had required the county “to bring the display, including the crèche or not, into consonance with the Establishment Clause.” As to the county’s claim that those who celebrate the religious Christmas still have rights, the court actually agreed, explaining that its order “also protects the public’s interest in enjoying a community holiday celebration that constitutionally observes both the secular and sacred elements of Christmastime.”

L

ongevity is a blessing, but it can also be a risk if one is not prepared.

The life expectancy of the male Filipino is projected by the Philippine Statistics Authority (PSA) to rise to 70.01 years while the female Filipino is higher at 75.54 years.

A global perspective of longevity by the United Nations disclosed that in 1990, seven percent of Asian population was over 60 years but it is projected to rise to more than double

to 16 percent by 2030.

It is considered a benefit to be old, but with age, one becomes more exposed to the illnesses of old age and these are as follows: Alzheimer’s dis-

ease, diabetes, arthritis, arteriosclerosis, hearing impairments, heart conditions, hypertension, orthopedic ailments, sinusitis, varicose veins, visual impairments, serious allergies, Parkinson’s disease; and loneliness.

While the Filipino tradition of caring for ageing parents is commonly practiced, even the most devoted children are oftentimes unable to give sufficient time, attention and the means to care for elderly relatives. In other words, one must have the financial resources to meet the

discrimination, can still be cured.

The greatest servant leader in history, Jesus Christ “tagged” Gentiles and Jews but never discriminated against them during his earthly time.

He simply shared and demonstrated the overflowing goodness that comes with being associated as a Jesus follower. When the apostle Peter was called to go to the house of a Gentile, a Roman centurion named Cornelius, he gladly obliged without regard of his belief. In Acts 10:28-29 of the Bible, Peter told them, “You yourselves know that it is unlawful for a Jew to associate with or to visit a Gentile; but God has shown me that I should not call anyone profane or unclean.

So when I was sent for, I came without objection. Now may I ask why you sent for me?” Peter, following Jesus’ example, did not hesitate to share the Gospel with a Gentile. Like Jesus, he knows the colors of red, orange, and green, but Peter never treated any class with judgment.

Peter continued: “I truly understand that God shows no partiality, but in every nation anyone who fears him and does what is right is acceptable to him.” (Acts 10:34-35) In a democracy such as ours, we should be free to speak our minds and be divergent in thoughts from others, without fear of being tagged for the gallows. Unless the beliefs are accompanied by acts of violence, then tagging is of little value to a true democracy. Should that dreadful moment happen in this administration, then our color blind authorities would not know “White from Wrong.”

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission.

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

expenses of living too long.

What are the indications of increased longevity? These are the inability to perform the normal activities of daily living such as mobility, dressing, bathing, toileting, transferring and eating. Thus, to grow old and poor is not a future that one would look forward to. So while one is young and strong, one must prepare for the risks of living too long.

The author is Editor of Insurance Philippines. He is 93 years old.

Carbon neutrality by 2050: The world’s most urgent mission

By UN Secretary-General António Guterres

A

S the world marks the fifth anniversary of the adoption of the landmark Paris Agreement on climate change, a promising movement for carbon neutrality is taking shape. By next month, countries representing more than 65 percent of harmful greenhouse gasses and more than 70 percent of the world economy will have committed to achieve net zero emissions by the middle of the century.

At the same time, the main climate indicators are worsening. While the Covid-19 pandemic has temporarily reduced emissions, carbon dioxide levels are still at record highs—and rising. The past decade was the hottest on record; Arctic sea ice in October was the lowest ever, and apocalyptic fires, floods, droughts and storms are increasingly the new normal. Biodiversity is collapsing, deserts are spreading, oceans are warming and choking with plastic waste. Science tells us that unless we cut fossil fuel production by 6 percent every year between now and 2030, things will get worse.

Instead, the world is on track for a 2 percent annual rise.

Pandemic recovery gives us an unexpected yet vital opportunity to attack climate change, fix our global environment, re-engineer economies and re-imagine our future. Here is what we must do:

First, we need to build a truly global coalition for carbon neutrality by 2050.

The European Union has committed to do so. The United Kingdom, Japan, the Republic of Korea and more than 110 countries have done the same. So, too, has the incoming United States administration. China has pledged to get there before 2060.

Every country, city, financial institution and company should adopt plans for net zero—and act now to get on the right path to that goal, which means cutting global emissions by 45 percent by 2030 compared with 2010 levels. In advance of next November’s UN Climate Conference in Glasgow, governments are obligated by the Paris Agreement to be ever more ambitious every five years and submit strengthened commitments known as Nationally Determined Contributions, and these NDCs must show true ambition for carbon neutrality.

Technology is on our side. It costs more to simply run most of today’s coal plants than it does to build new renewable plants from scratch. Economic analysis confirms the wisdom of this path. According to the International Labor Organization, despite inevitable job losses, the clean energy transition will create 18 million net new jobs by 2030. But we must recognize the human costs of decarbonization, and support workers with social protection, re-skilling and up-skilling so that the transition is just.

Second, we need to align global finance with the Paris Agreement and the Sustainable Development Goals, the world’s blueprint for a better future.

It is time to put a price on carbon; end fossil fuel subsidies and finance; stop building new coal power plants; shift the tax burden from income to carbon, from taxpayers to polluters; make climate-related financial risk disclosures mandatory; and integrate the goal of carbon neutrality into all economic and fiscal decision-making.

Banks must align their lending with the net zero objective, and asset owners and managers must decarbonize their portfolios.

Third, we must secure a breakthrough on adaptation and resilience to help those already facing dire impacts of climate change.

That’s not happening enough today:

adaptation represents only 20 percent of climate finance. This hinders our efforts to reduce disaster risk. It also isn’t smart; every $1 invested in adaptation measures could yield almost $4 in benefits. Adaptation and resilience are especially urgent for small island developing states, for which climate change is an existential threat.

Next year gives us a wealth of opportunities to address our planetary emergencies, through major United Nations conferences and other efforts on biodiversity, oceans, transport, energy, cities and food systems. One of our best allies is nature itself: naturebased solutions could provide onethird of the net reductions in greenhouse gas emissions required to meet the goals of the Paris Agreement. Indigenous knowledge can help to point the way. And as humankind devises strategies for preserving the environment and building a green economy, we need more women decision-makers at the table.

Covid and climate have brought us to a threshold. We cannot go back to the old normal of inequality and fragility; instead we must step towards a safer, more sustainable path. This is a complex policy test and an urgent moral test. With decisions today setting our course for decades to come, we must make pandemic recovery and climate action two sides of the same coin.

A12 Monday, December 14, 2020

Online workers must agree on a wage floor–PIDS study

O

By Cai U. Ordinario

@caiordinario

NLINE workers in the region should organize themselves into a labor group and agree on a wage floor to prevent the “race to the bottom mentality” in their industry, according to the Philippine Institute for Development Studies (PIDS).

This was according to a study titled Online Work in the Philippines: Some Lessons in the Asian Context authored by PIDS Senior Research Fellows Connie BayudanDacuycuy, Aniceto C. Orbeta Jr., and Ramonette B. Serafica as well as Research analyst Lora Kryz C. Baje.

The authors said many online workers, including in the Philippines, receive low wages compared to those in western countries.

“Currently, the power is skewed in favor of firms while risks and costs are borne by workers. A starting point would be to include the platform economy in the Asean

agenda so that issues and challenges can be mapped to potential solutions,” the authors said.

“Agreeing to a wage floor, for example, can help address the ‘race to the bottom’ mentality. While putting a united front in the digital space is a challenge, sending a cohesive message has the potential to balance the fulcrum of power,” they added.

The authors cited data showing that the oversupply of online workers globally has reached 1.576 million. Of this number, around 12 percent or 188,300 are Filipinos.

The study showed that there are

a potential 221,100 Filipino online workers but only 32,800 are successful online workers in the country.

“Compensation may also be driven downwards by the number of people seeking jobs. In one platform, evidence shows that the Philippines accounts for 12 percent of the global oversupply,” “Not only will oversupply exert a downward pressure on compensation as workers potentially underbid each other, but this will adversely affect the workers’ bargaining power as well,” Apart from low wages, the PIDS researchers raised concern regarding the lack of social protection for online workers, especially when they become seniors.

Senior workers

The researchers said in the Philippines, the elderly population is projected to hit 10 percent in 2025 and 16 percent by 2045. This would include the existing workers of today.

The authors said the average age of platform workers in the Philippines is 31 years and the estimated probability of a 25 years old being a platform worker is around 8 per-

centage points higher than a 35 years old.

This also becomes a concern in terms of gender gaps. Based on data, PIDS said, more women prefer online work in order to balance their responsibilities at home and the need to provide the family another source of income.

“The erosion of the contribution base today will have significant effects on financing future entitlements and this problem is more pronounced in societies with an increasing elderly population,” the authors said.

“More women will likely engage in platform work since the latter promises flexibility that allows women to perform non-market work/care work alongside gainful economic opportunities. This can exacerbate gendered gaps in terms of social protection,” they added.

No retirement package

In 2018, the Asian Development Bank (ADB) said that if Asian countries fail to adopt innovative employment and social protection measures, many citizens won’t be able to afford retirement.

Continued on A5

OVER 90% OF TOLL ROAD TRANSACTIONS NOW CASHLESS–TRB

M

OR E than 90 percent of transactions in the country’s toll roads are now made via radiofrequency identification (RFID) sticker use, as a result of the implementation of the cashless transaction since December 1, the Toll Regulatory Board (TRB) reported.

TRB Executive Director Engr.

Abraham Sales made the report in a virtual press briefing on December 10, as regulators came under fire over the severe inconveniences caused by an ill-considered shift to cashless transactions without checking the readiness of the toll operators’ systems, which are still not interoperable.

The Senate Public Services committee led by Sen. Grace Poe has set for December 17 the hearing on a resolution, filed by Senators Nancy Binay and Imee Marcos, to look into the botched implementation of the switch to RFID, entangling traffic and disrupting commerce and travel. Story in “Companies,” page B2.

The December 10 briefing was led by DOTr Road Transport and Infrastructure Assistant Secretary Mark Steven Pastor and other transport officials, including DOTr Road Sector senior consultant Engr. Alberto Suansing and TRB board member Raymundo Junia.

In the briefing, Sales noted that based on the AutoSweep and Easytrip daily report, as of December 8, more than 3.7 million RFID stickers have been installed, compared to 1.4 million when the program just started.

Sales added that the improvement in penetration rate since December 1 showed that majority of motorists are now using cashless transactions in passing through tollways.

“The payment transactions that are cashless or RFID are now At 80-90 percent,” Sales said, partly in Filipino. That means, he said, “that almost 100 percent of motorists using the tollways are cooperating in the use of RFID.” Continued on A5

www.businessmirror.com.ph

Companies BusinessMirror

Monday, December 14, 2020

B1

Del Monte returns to profit as demand for food surges

By VG Cabuag

C

@villygc

AMPOS-LED Del Monte Pacific Ltd. made a turnaround in its operations during its fiscal first half ending October when it posted an attributable profit of $18.6 million, a reversal of the previous year’s loss of $75.61 million.

The company said this was partly due to higher sales recorded in the Philippines and the United States where people continued to stock up on canned goods due to the pandemic.

Sales for the first half grew 10 percent to $1.03 billion, some 11 percent higher from last year’s $934.6 million, but more than half of that sales came in during its fiscal second quarter, which starts in August.

In the second quarter alone sales grew 12 percent to $623.45 million

from last year's $558.74 million. Del Monte Foods Inc., the company's US unit, generated 72 percent of its revenues and achieved 13 percent higher sales of $446.7 million with improved demand in the branded retail segment arising from the Covid-19 pandemic.

Core categories of vegetable, fruit and broth delivered strong growth as consumers chose trusted, healthy and shelf-stable products, the company said, adding that its e-commerce sales, coming off a low base,

were also up significantly despite tight supply.

In the Philippines, sales improved by 10 percent in US dollar terms and 4 percent in peso terms. Retail sales grew by 13 percent despite a weak economy and high unemployment resulting from the pandemic. This was offset by the foodservice business which remained soft notwithstanding improvements over the first quarter.

The company continued to highlight the health benefits of its product portfolio with targeted advertising, as well as meal planning and preparation.

Sales of S&W shelf-stable packaged pineapple products in Asia and the Middle East improved 34 percent over last year with robust sales of canned pineapples. Sales of fresh pineapples, the majority of which are branded S&W, grew by 7 percent in the second quarter versus the same period last year, a turnaround from the 28-percent decline in the first quarter ending July due to the impact of the pandemic lockdown in China.

The company expects its fresh

business to continue growing in the remainder of the year as more consumers venture to retail outlets in North Asia.

The company posted an attributable income growth of 37 percent in the second quarter to $21.85 million from last year's $15.92 million.

“We are seeing the benefits from considerable cost savings achieved through the adoption of an assetlight model in the US along with greatly improving efficiencies which we have woven into our supply chain,” Joselito D. Campos Jr., the company's managing director and CEO, said.

“We are razor-focused on managing costs while our solid fundamentals as a staple food business with trusted brands, and high quality, healthy and shelf-stable products will continue to drive our growth.

We recognize the contributions made by our hardworking employees who have risen to confront and deal with the many challenges posed by the pandemic to ensure our products continue to be enjoyed by our consumers,” he added.

Group: Govt must prioritize Naia rehab

By Lorenz S. Marasigan @lorenzmarasigan

A

DVOCACY group The Passenger Forum (TPF) emphasized on Sunday the urgency of rehabilitating the Ninoy Aquino International Airport (Naia) during the pandemic.

“This is the best time to rehabilitate Naia while there is less air traffic due to the Covid-19 pandemic. We are hoping that the government will seize the opportunity now to minimize the inconvenience the repairs and rehabilitation works will cause the riding public,” TPF Convenor Primo Morillo said.

He also urged the Department of Transportation (DOTr), the National Economic and Development Authority (Neda) and the Manila International Airport Authority to provide

regular updates to the public as to the project’s status.

“We think it is just proper to remind DOTr to issue updates regarding the rehabilitation of our country’s primary international gateway.

What happened to the proposal?”

Morillo asked.

He noted that Naia has long been ripe for rehab, as for years, it has been operating beyond its capacity, which caused delays and long queues in both the terminals and the runways.

“While Naia is not ranked as the world’s worst airport anymore, a survey in November 2019 declared Naia as the worst airport for delays.

Another survey, conducted by the web site Sleeping in Airports in 2017, learned that passengers consider Naia as the sixth worst airport for layovers," Morillo said.

"We don’t want to go back to the

time, which is from 2011 to 2013, when Naia is proclaimed as the worst in the world but if we will not seize the opportunity now, we are headed back to that direction and it is again the passengers that will bear the brunt of an airport rehabilitation failure."

Megapode Construction Corp. recently said it has complied with the additional requirements sought by Neda to move forward with the project, partnering with GMR Infrastructures Ltd. of India for the project.

To recall, Megawide proposed to undertake a P109-billion initiative to rehabilitate Naia and improve its services.

Megawide’s proposal for the redevelopment of Naia replaced the Naia Consortium’s unsolicited proposal, after the latter withdrew its offer due to the economic viability of the project. It received the original pro-

ponent status for the project in July.

Megawide has proposed to implement the project between 5 to 7 years in three phases.

The first phase includes the immediate improvement of the airside and landside segments of Naia through the improvements of the existing terminal and the optimization of the existing runways.

The second phase involves the construction of a new passenger terminal building and the improvements of the apron and taxi lane to provide access to the new terminal.

The group will also relocate the cargo terminal and the fuel farm to accommodate the new terminal building.

The last phase will see the group building a rail-people mover system that will allow passengers to move from one terminal to another through an overhead railway system.

3rd telco told: Deliver internet speed commitment

By Butch Fernandez @butchfBM

T

HE third telco player seen to challenge duopoly Globe and Smart was prodded Sunday

by Senator Grace Poe to first focus on delivering its time-bound commitments of internet speed in January 2021, and for its March 2021 rollout, before pressing for renewal of its franchise.

Dito Telecommunity, which is 40 percent-owned by China, has been seeking a new franchise when the original one of its previous incarnation, Mislatel, expires, but Poe, who chairs the franchisegranting Committee on Public Services, said action on the new franchise should not come before Dito delivers on its time-bound commitments to regulators.

Poe earlier suspended hearings on Dito's franchise application after hearing the telco's presentation of how it plans to deliver on its promises, especially with regard to internet speed and to coverage.

In a separate statement Sunday, Senator Angara, however, held out hopes of improved internet services soon even in far-flung areas given the higher budget allocation for the National Broadband Program in the 2021 budget bill.

"The country should begin to experience better internet connectivity even in remote and inaccessible areas once the Department of Information and Communications Technology [DICT] completes the first phase of its National Broadband Program [NBP]," Angara assured.

He said that under the P4.5trillion 2021 General Appropriations Bill ratified by Congress last week, "the DICT’s budget for the NBP was doubled from the proposed P902.194 million in the National Expenditure Program to P1.9 billion.”

“This is on top of the budget for the implementation of the free-Wifi in public places and in the state universities and colleges [SUCs] programs of the DICT,” Angara added.

“We need to really ramp up our internet infrastructure. It’s one of the needs of our country. When you talk about 'Build, Build, Build,' you don’t just look at roads, you don’t just look at buildings, but you also look at the actual internet infrastructure because that will provide greater investments.”

Angara affirmed that given the “bigger investments coming in to the country, this will mean more higher paying jobs and more eco-

nomic activity.”

At the same time, Angara asserted "there has always been a need for a fast, stable and reliable internet connection in the country but that this is even more urgent now because of the changing requirements of the people under the new normal."

"Face-to-face transactions in government and the private sector, as well as in education have led to a greater demand for internet connectivity," Angara added, noting that the cost of internet subscriptions for the government alone is a huge amount. He, however, held out hope that given the implementation of the NBP, "the DICT promises to bring down the rates significantly."

The Senator cited DICT claims the Duterte government will have access to cheaper and more reliable internet services that will reduce government spending on internet subscription once the first phase of the NBP is completed, noting estimates that government offices spend an average of P350 per Megabits per second (Mbps) of internet bandwidth a month.

"For an average size agency which requires a 100 Mbps shared internet connectivity across a whole building, the cost would be

P35,000 per month, or P420,000 a year," he said, noting that "with the NBP, the DICT said the cost for the same agency would go down to P5,000 a month, or P60,000."

He added the DICT expects the government to save P720 million in internet subscription expenses in the first year of implementation of the NBP, even as he noted that for the "free Wifi" in public places, the budget of the DICT for this purpose was increased

by P250 million, bringing up the total to P2.667 billion. As for the free Wifi in SUCs, he said Congress also increased the budget to P557.8 million.

Angara reminded that under Republic Act 10929, the Free Internet Access in Public Places Act mandates the government to provide free internet access in government offices and public places.

“With our schools barred from conducting face-to-face teaching, students have been forced to adapt to flexible and distance learning methods,” he said.

He, however, assured that "expanding the access and reliability of our internet connections will go a long way in helping our children transition easier, especially for those who cannot afford to pay for their own subscriptions.”

PAL’s Manila facility cuts Covid test rate

BUSINESSMIRROR FILE PHOTO

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LAG carrier Philippine Airlines’s (PAL) testing facility at the company’s Learning Center in Manila is now offering real time reverse transcription polymerase chain reaction (RTPCR) services at a discounted rate of P3,300 with results released within 24 hours.

The new rate— which took effect on December 12— is P700 less than the previous RT-PCR cost of P4,000.

PAL said drive-through or walkin testing will be available. The testing facility is open from Monday to Sunday, 8 a.m. to 5 p.m.

PAL passengers must bring their ID, PAL Ticket, and QR code indicating completion of the Passenger Profile and Health Declaration (PPHD) form. There is no need for prior appointment to avail of the test.

The PPHD form is downloadable via https://bit.ly/PALDomPPHD and https://bit.ly/PALIntPPHD and

must be filled up to 5 days before the flight.

To find out which countries and Philippine destinations require an RT-PCR test, PAL passengers are advised to visit https://bit.ly/PALTravelsFromPH (for international) and https://bit.ly/PALTravelsWithinPH (for domestic).

PAL travelers may opt to avail of the services of the airline’s testing partners. For a full list, they may visit https://bit.ly/PALTestPartnersDom or https://bit.ly/PALTestPartnersInt. For inquiries, passengers may call Manila Reservations Hotline +632 8855-8888 (daily 7AM to 9PM Philippine Time).

Toll-Free Hotline is 1-800-4359725 (daily 3 a.m. to 6 p.m. Hawaii Time/daily 5 a.m. to 8 p.m. Pacific Time/daily 8 a.m. to 11p.m. Eastern Time). Recto L. Mercene

Delta contact tracing to start on Dec. 15

D

ELTA Air Lines’s passengers bound for the United States are requested to voluntarily provide personal information starting December 15 to aid contact tracing and public health follow-up efforts amid the Covid-19 pandemic.

In partnership with the Centers for Disease Control and Prevention (CDC), the carrier is the first American airline to ask customers the following details: Full name, email address, address in the US, primary phone, and secondary phone.

This is applicable only to passengers who are a foreign national and/ or an American passport holder flying on any Delta-operated flight from an international location to the US. “Independent studies have shown that the many layers of protection Delta has already put in place are effectively minimizing the risk of Covid-19 transmission, and contact tracing adds one more important layer to our efforts to ensure safety throughout travel,” said Bill Lentsch, Delta’s chief customer experience officer.

“We want customers to feel safe when they return to travel, and this voluntary program is another way we can provide additional reassurance to customers and employees alike,” he added.

In the event of confirmed Covid-19 case with travel while infectious, the CDC currently requests a passenger manifest from Delta to identify all customers seated two seats around the confirmed case.

This information is then transmitted to the appropriate local health departments for follow-up, with each department taking responsibility for passengers in their own jurisdiction.

All customer data submitted via this voluntary collection process is sent to the CDC using established channels between airlines and US Customs and Border Protection for the Advance Passenger Information System.

They will be retained for no longer than necessary to achieve the contact tracing and public health follow-up objectives, or as required

by Customs and Border Protection.

Delta will resume service between Manila and the US on January 2, 2021. The flights to Seattle and Atlanta from Manila will be operated via Seoul-Incheon, Delta’s trans-Pacific hub with its joint venture partner Korean Air. The Manila-Incheon route will be operated with Delta's newest International aircraft, Airbus A330900neo, featuring Delta One Suites, Delta Premium Select, Delta Comfort+, and Main Cabin. Roderick L. Abad

B2

Companies BusinessMirror

Monday, December 14, 2020

PSE STOCK QUOTATIONS

December 11, 2020

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 PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

44.4 45.75 44.2 46 44.2 44.4 20,100 908,840 -31,490 110.1 110.2 108.3 110.4 108.2 110.1 4,771,680 523,566,831 -12,392,051 82.4 82.7 83 84 82.4 82.4 3,257,660 271,143,023.50 -72,275,611 25.75 25.85 25.7 25.85 25.7 25.75 200,500 5,168,920 1,447,475 11.32 11.34 11.4 11.5 11.32 11.34 1,946,400 22,090,816 165,798 51.45 51.5 50.85 51.8 50.65 51.45 17,058,890 872,837,270.50 -33,896,936.50 9.8 10.04 9.79 10.04 9.79 10.04 136,300 1,346,663 21.05 21.3 21.3 21.3 20.85 20.85 1,200 25,220 30.4 30.45 30.25 30.5 30 30.45 284,800 8,651,255 -2,601,705 53.3 53.85 53.6 53.8 53.05 53.8 6,540 351,428.50 10,750 96.25 104.5 104.6 104.6 104.6 104.6 10 1,046 19.08 19.26 19.02 19.3 19 19.26 161,900 3,090,364 -696,086 138 138.4 136.8 139.5 136.8 138 1,202,600 166,495,902 31,117,654 67.65 67.95 67.2 68 67.2 67.65 57,240 3,887,234 -67,500 0.92 0.96 0.96 0.96 0.96 0.96 43,000 41,280 28.5 29 29 29 28.5 28.5 1,500 43,410 5.11 5.18 5 6.25 5 5.11 15,787,000 86,704,400 -228,130 1.3 1.33 1.34 1.34 1.3 1.3 38,000 50,200 0.34 0.355 0.34 0.355 0.34 0.34 610,000 211,450 790 800 800 800 800 800 100 80,000 0.64 0.66 0.65 0.65 0.63 0.65 95,000 60,810 154.9 155.4 155 155.9 155 155.4 4,840 750,472 -725,562 1,928 2,048 2,048 2,048 2,048 2,048 5 10,240 1.04 1.1 1.09 1.1 1.09 1.1 41,000 45,040 -

INDUSTRIAL AC ENERGY 6.34 6.35 6.43 6.43 6.28 6.35 11,289,700 71,903,050 2,808,218 ALSONS CONS 1.4 1.41 1.4 1.41 1.38 1.41 1,521,000 2,115,000 36,400 27.1 27.3 27.5 27.5 27.1 27.1 1,403,800 38,244,965 -12,439,825 ABOITIZ POWER BASIC ENERGY 0.3 0.305 0.32 0.32 0.305 0.305 32,060,000 9,887,400 -29,500 FIRST GEN 28 28.1 28.05 28.3 28 28.1 791,100 22,235,380 -4,630,025 78.8 79 77.1 79.25 77.1 79 150,030 11,744,802 -4,839,055 FIRST PHIL HLDG MERALCO 290 294.6 300 300 290 290 420,420 123,375,188 -75,448,932 MANILA WATER 16.3 16.34 16.08 16.34 16.08 16.3 1,951,900 31,802,414 13,148,140.00 4.1 4.11 4.15 4.15 4.1 4.1 3,598,000 14,786,130 -485,080 PETRON PETROENERGY 3.46 3.52 3.52 3.52 3.51 3.52 22,000 77,390 12.7 12.8 12.7 12.8 12.7 12.7 61,700 784,260 -426,870 PHX PETROLEUM 22.75 22.8 23.1 23.1 22.6 22.8 1,420,200 32,370,310 -6,213,215 PILIPINAS SHELL SPC POWER 11.06 11.08 11.04 11.1 10.86 11.06 1,123,500 12,337,764 914,478.00 13.52 14 13.5 14 13.5 14 7,200 97,294 13,520 VIVANT 8.31 8.32 8.39 8.49 8.3 8.32 721,900 6,002,493 -107,204 AGRINURTURE AXELUM 3.82 3.83 3.7 3.85 3.69 3.82 3,229,000 12,267,290 167,080 74 75 73 75 72.1 75 560 41,394 BOGO MEDELLIN CNTRL AZUCARERA 15 15.22 14.58 15.3 14.58 15 11,100 167,026 CENTURY FOOD 17.64 17.78 17.98 17.98 17.62 17.64 1,798,400 31,813,032 -9,572,132 6.9 6.95 6.34 7 6.34 6.95 808,300 5,456,418 926,158 DEL MONTE DNL INDUS 7.53 7.62 7.38 7.65 7.31 7.62 5,248,700 39,391,214 -13,010,443 EMPERADOR 10 10.04 10.02 10.04 10 10 7,591,900 76,022,240 -14,669,662 69.5 69.55 69.05 69.8 69 69.55 266,700 18,546,043.50 704,964 SMC FOODANDBEV ALLIANCE SELECT 0.69 0.7 0.69 0.7 0.68 0.69 678,000 468,720 FRUITAS HLDG 1.69 1.7 1.7 1.75 1.62 1.7 57,605,000 97,022,200 -1,343,320 51.1 52 52.7 52.7 50 52 100,290 5,116,176 1,778,182.50 GINEBRA JOLLIBEE 206.8 207 207.8 209.6 205 207 1,170,070 243,301,354 -78,923,580 LIBERTY FLOUR 49.95 50 52.5 53.85 50 50 830,220 43,161,856 37,530 8.31 8.74 8.77 8.78 8.77 8.78 1,200 10,527 2,634 MACAY HLDG MAXS GROUP 8.16 8.19 8.27 8.3 8.08 8.19 797,700 6,519,814 317,878 0.208 0.215 0.18 0.219 0.18 0.215 38,430,000 7,813,740 -14,180 MG HLDG 8.45 8.49 8.35 8.45 8.29 8.45 263,100 2,216,940 1,434,098.00 SHAKEYS PIZZA ROXAS AND CO 1.34 1.35 1.3 1.36 1.28 1.35 19,281,000 25,346,820 15,202,140 4.68 4.8 4.75 4.79 4.75 4.79 2,000 9,540 RFM CORP ROXAS HLDG 1.86 1.89 1.83 1.88 1.83 1.88 82,000 153,560 SWIFT FOODS 0.119 0.124 0.116 0.124 0.116 0.124 5,130,000 626,380 1,220 150 150.2 149 150.3 148.2 150.1 832,090 124,779,029 70,225,604 UNIV ROBINA 1.04 1.06 1.05 1.06 1.03 1.04 5,229,000 5,466,510 26,900 VITARICH VICTORIAS 2.45 2.5 2.5 2.5 2.46 2.5 51,000 126,000 53.85 55 54 55 53.8 55 1,450 78,116.50 CONCRETE A CONCRETE B 54.5 56.9 57.5 58.1 54.05 58.1 3,370 183,241 CEMEX HLDG 1.69 1.7 1.67 1.72 1.66 1.7 10,639,000 18,064,660 -958,100 5.08 5.1 5.06 5.1 5.01 5.1 174,400 877,058 DAVINCI CAPITAL EAGLE CEMENT 14.76 15.02 15.02 15.02 14.7 15.02 1,250,900 18,441,188 36,192 EEI CORP 7.85 7.9 7.89 7.9 7.7 7.85 2,903,300 22,932,790 -9,763 7.42 7.43 7.1 7.45 7.05 7.43 4,675,900 34,095,428 -1,684,746 HOLCIM MEGAWIDE 9.16 9.17 8.98 9.2 8.98 9.16 4,306,300 39,139,588 -28,787 PHINMA 9.2 9.4 9.2 9.4 9.2 9.4 107,800 1,004,401 0.94 0.95 0.84 0.95 0.84 0.94 4,602,000 4,199,030 TKC METALS VULCAN INDL 1.31 1.32 1.34 1.36 1.3 1.32 3,026,000 4,012,940 104,670 1.86 1.87 1.87 1.87 1.87 1.87 53,000 99,110 CROWN ASIA EUROMED 2.68 2.72 2.83 2.9 2.63 2.72 3,059,000 8,393,530 138,790 LMG CORP 4.46 4.59 4.46 4.59 4.46 4.59 2,000 9,050 4.6 4.69 4.7 4.7 4.7 4.7 22,000 103,400 MABUHAY VINYL PRYCE CORP 5.36 5.45 5.37 5.45 5.25 5.4 312,300 1,683,869 59,935 CONCEPCION 22.85 22.9 22.85 23.4 22.8 22.9 151,900 3,483,580 -1,943,165 2.63 2.65 2.67 2.69 2.64 2.65 6,456,000 17,259,440 -1,022,740 GREENERGY 7.12 7.18 7.15 7.29 7.12 7.12 583,500 4,186,803 -552,627 INTEGRATED MICR IONICS 1.11 1.12 1.13 1.15 1.1 1.11 1,625,000 1,810,310 54,480 5.21 5.32 5.21 5.21 5.2 5.2 3,400 17,700 PANASONIC SFA SEMICON 1.58 1.61 1.62 1.63 1.56 1.61 2,563,000 4,073,640 22,120 CIRTEK HLDG 7.08 7.09 7.14 7.15 6.97 7.08 2,752,600 19,459,850 -11,284

HOLDING & FRIMS ABACORE CAPITAL 0.68 0.69 0.63 0.72 0.61 0.69 164,007,000 111,970,870 753,830 ASIABEST GROUP 8.6 8.62 8.48 8.65 8.21 8.6 48,100 406,806 844 845 835 858 832.5 845 340,920 288,219,105 -54,229,100 AYALA CORP ABOITIZ EQUITY 46.5 47 45.85 47.5 45.85 46.5 1,531,200 71,784,840 15,903,575 ALLIANCE GLOBAL 10.46 10.56 10.38 10.6 10.38 10.46 8,521,800 89,206,032 -19,974,106 3.11 3.12 3.11 3.14 3.08 3.12 2,945,000 9,180,720 59,320 AYALA LAND LOG ANSCOR 6.41 6.5 6.6 6.6 6.5 6.5 3,300 21,460 1,310 ANGLO PHIL HLDG 0.75 0.76 0.78 0.78 0.75 0.76 843,000 640,710 0.94 0.95 0.93 0.95 0.87 0.95 32,959,000 30,327,280 ATN HLDG A ATN HLDG B 0.95 0.97 0.95 0.99 0.9 0.99 1,825,000 1,680,560 -723,260 COSCO CAPITAL 5.73 5.75 5.76 5.79 5.71 5.73 2,760,700 15,855,876 -11,215,301 6.07 6.1 6.02 6.13 6.02 6.07 3,538,400 21,545,371 3,362,351 DMCI HLDG FILINVEST DEV 9.7 9.71 9.71 9.71 9.65 9.7 43,900 425,592 0.208 0.217 0.208 0.208 0.208 0.208 40,000 8,320 FORUM PACIFIC GT CAPITAL 654.5 655 656.5 664.5 654.5 655 169,950 111,589,740 -2,784,445 HOUSE OF INV 4.19 4.22 4.19 4.22 4.19 4.22 24,000 100,890 69 69.35 69.1 70.45 68.95 69 1,709,120 119,057,223 367,234 JG SUMMIT 5 5.29 3.74 5.73 3.58 5.04 7,051,000 32,850,340 KEPPEL HLDG A LODESTAR 0.82 0.83 0.84 0.85 0.81 0.82 998,000 820,490 3.72 3.74 3.72 3.74 3.71 3.72 5,837,000 21,747,510 353,640 LOPEZ HLDG LT GROUP 13.4 13.46 13.3 13.5 13.12 13.4 1,111,300 14,825,488 -2,002,570 MABUHAY HLDG 0.51 0.53 0.54 0.54 0.51 0.51 358,000 184,540 4.39 4.4 4.38 4.5 4.35 4.39 36,355,000 160,902,480 -15,457,350 METRO PAC INV PACIFICA HLDG 3.78 3.81 3.86 3.86 3.78 3.78 309,000 1,181,980 PRIME MEDIA 0.91 0.92 0.89 0.92 0.87 0.91 473,000 427,680 2.9 2.95 2.9 2.9 2.9 2.9 8,000 23,200 REPUBLIC GLASS SOLID GROUP 1.17 1.18 1.17 1.19 1.17 1.17 207,000 243,030 SYNERGY GRID 260 265 269.8 269.8 265 265 250 67,306 1,068 1,069 1,055 1,085 1,054 1,068 273,610 293,249,050 48,366,375 SM INVESTMENTS SAN MIGUEL CORP 137 138 135 138.5 135 138 298,680 40,999,744 -1,061,621 SOC RESOURCES 0.75 0.77 0.78 0.78 0.74 0.78 178,000 134,020 7,500 145.1 149 144.7 150 144.7 149 2,810 409,120 TOP FRONTIER WELLEX INDUS 0.221 0.229 0.227 0.229 0.227 0.229 40,000 9,140 0.193 0.194 0.182 0.196 0.177 0.193 59,860,000 11,341,030 49,000 ZEUS HLDG

PROPERTY ARTHALAND CORP 0.7 0.71 0.71 0.72 0.7 0.7 974,000 685,010 ANCHOR LAND 7.83 8.18 8.2 8.2 8.2 8.2 400 3,280 41.6 41.65 40.05 41.95 40 41.6 16,865,700 697,122,410 322,664,100.00 AYALA LAND ARANETA PROP 1.34 1.35 1.33 1.34 1.29 1.34 465,000 618,400 -160,800 AREIT RT 29 29.05 28.1 29 28.1 29 1,303,000 37,339,250 7,863,230 1.66 1.67 1.66 1.67 1.64 1.66 1,972,000 3,260,050 643,110 BELLE CORP A BROWN 0.87 0.88 0.85 0.88 0.83 0.88 4,336,000 3,732,100 -9,500 CITYLAND DEVT 0.82 0.83 0.82 0.83 0.82 0.83 49,000 40,380 0.155 0.157 0.152 0.158 0.152 0.157 5,070,000 787,520 153,000 CROWN EQUITIES CEB LANDMASTERS 5.01 5.02 4.98 5.01 4.96 5.01 498,000 2,482,600 40,000 CENTURY PROP 0.47 0.475 0.485 0.485 0.465 0.475 16,570,000 7,799,350 478,450 0.355 0.365 0.365 0.365 0.355 0.365 12,700,000 4,562,200 CYBER BAY DOUBLEDRAGON 14.96 14.98 14.9 15.02 14.84 14.98 2,616,200 39,071,874 -8,021,334 7.5 7.6 6.95 7.78 6.9 7.5 1,066,300 7,772,891 1,387,718 DM WENCESLAO 0.345 0.35 0.33 0.345 0.325 0.345 6,130,000 2,089,600 EMPIRE EAST EVER GOTESCO 0.097 0.098 0.091 0.098 0.091 0.097 28,420,000 2,710,480 83,600 1.16 1.17 1.16 1.17 1.15 1.17 12,596,000 14,648,220 278,030.00 FILINVEST LAND 0.97 0.98 0.96 0.99 0.93 0.97 1,207,000 1,165,640 9,300 GLOBAL ESTATE 8990 HLDG 8.55 8.6 8.6 8.63 8.51 8.6 125,500 1,073,230 1.66 1.6 1.65 1.6 1.65 4,129,000 6,717,880 -490,170 PHIL INFRADEV 1.65 0.76 0.77 0.75 0.78 0.75 0.77 111,000 84,900 CITY AND LAND MEGAWORLD 3.99 4 3.94 4.02 3.94 3.99 25,924,000 103,671,310 -28,915,120 0.4 0.415 0.4 0.4 0.395 0.4 340,000 135,850 PHIL ESTATES PRIMEX CORP 1.54 1.55 1.44 1.54 1.4 1.54 4,216,000 6,203,630 -176,340 ROBINSONS LAND 20.25 20.5 19.5 20.85 19.5 20.5 10,217,500 205,995,588 4,738,875 0.285 0.295 0.285 0.295 0.28 0.295 430,000 124,700 PHIL REALTY ROCKWELL 1.66 1.69 1.71 1.71 1.66 1.67 1,343,000 2,246,590 45,800 SHANG PROP 2.69 2.7 2.69 2.7 2.68 2.7 117,000 314,710 2.13 2.16 2.13 2.18 2.11 2.16 1,955,000 4,196,790 STA LUCIA LAND SM PRIME HLDG 39.2 39.35 39 39.7 38.8 39.2 12,631,500 496,383,785 161,359,915 VISTAMALLS 4.68 4.69 4.75 4.8 4.67 4.67 86,000 404,130 1.8 1.81 1.85 1.85 1.78 1.8 4,004,000 7,236,700 -96,660 SUNTRUST HOME PTFC REDEV CORP 44 52 44 44.5 43.1 44.5 400 17,560 5.03 5.07 4.98 5.1 4.98 5.07 5,243,000 26,510,700 7,962,770 VISTA LAND

SERVICES ABS CBN 12.1 12.12 12.12 12.2 12.06 12.1 249,900 3,025,554 GMA NETWORK 6.01 6.02 6.03 6.07 5.9 6.02 1,642,100 9,880,786 0.445 0.45 0.445 0.46 0.445 0.45 480,000 216,000 MANILA BULLETIN MLA BRDCASTING 12 12.3 11.5 12.38 11.5 12 10,200 121,858 GLOBE TELECOM 2,036 2,040 2,046 2,056 2,024 2,036 69,340 141,289,790 -20,972,460 1,335 1,340 1,335 1,349 1,334 1,335 280,310 375,521,070 65,124,600 PLDT APOLLO GLOBAL 0.074 0.075 0.08 0.081 0.073 0.075 1,140,710,000 87,905,000 904,790 CONVERGE 15.7 15.86 15.56 15.9 15.52 15.7 1,879,800 29,507,716 -444,458 5.66 5.68 5.76 5.89 5.66 5.66 267,800 1,535,576 -128,838 DFNN INC DITO CME HLDG 7.46 7.47 7.17 7.49 7.17 7.46 32,599,100 241,569,164 6,356,706 IMPERIAL 1.44 1.49 1.42 1.54 1.4 1.42 106,000 155,000 0.126 0.127 0.126 0.128 0.121 0.126 7,590,000 949,960 19,050 ISLAND INFO JACKSTONES 2 2.04 1.85 2.24 1.85 2.04 879,000 1,759,040 -61,500.00 4.79 4.8 4.72 4.82 4.71 4.79 4,757,000 22,729,970 33,430 NOW CORP -49,750 TRANSPACIFIC BR 0.305 0.31 0.305 0.31 0.295 0.305 18,820,000 5,668,900 PHILWEB 3.14 3.15 3.09 3.15 3.03 3.15 2,162,000 6,724,320 -149,120 9.12 9.13 9.16 9.2 9.12 9.13 172,100 1,573,634 -902,834.00 2GO GROUP 38,500 600,600 -166,920 ASIAN TERMINALS 15.42 15.6 15.6 15.6 15.6 15.6 CHELSEA 5.45 5.46 5.4 5.5 5.39 5.45 2,584,100 14,049,028 419,210 49.95 50 50.8 50.8 49.8 50 1,434,330 71,890,815 -38,590,360.50 CEBU AIR INTL CONTAINER 123.5 124.9 124.4 125.6 122.6 123.5 1,217,570 151,284,585 -68,728,990 LBC EXPRESS 16 16.32 16.42 16.42 15.82 16.34 12,200 199,430 0.99 1.03 1.03 1.03 1.03 1.03 30,000 30,900 LORENZO SHIPPNG MACROASIA 7.88 7.89 7.85 8.04 7.83 7.89 2,965,700 23,478,507 -6,996,653 METROALLIANCE A 2.15 2.16 2.13 2.19 2.08 2.16 1,082,000 2,308,290 2.02 2.14 2.01 2.11 2.01 2.11 10,000 21,000 METROALLIANCE B PAL HLDG 7.1 7.15 7.1 7.1 7.08 7.1 53,100 376,757 HARBOR STAR 1.64 1.65 1.65 1.68 1.64 1.65 2,756,000 4,561,010 203,550 1.45 1.47 1.43 1.47 1.43 1.47 58,000 84,250 ACESITE HOTEL BOULEVARD HLDG 0.042 0.043 0.048 0.049 0.041 0.043 696,000,000 30,204,300 279,600 DISCOVERY WORLD 2.02 2.05 2.05 2.05 2.03 2.03 29,000 59,050 0.64 0.65 0.62 0.66 0.61 0.65 26,804,000 17,240,900 136,030 WATERFRONT FAR EASTERN U 590 646 644.5 646 644.5 646 60 38,720 9.56 10.18 9.66 10.22 9.6 10.2 6,800 65,580 IPEOPLE STI HLDG 0.45 0.455 0.425 0.455 0.425 0.45 30,930,000 13,752,400 -103,350 BERJAYA 4.92 4.99 5.02 5.02 4.91 4.92 493,700 2,439,369 8.57 8.58 8.49 8.65 8.49 8.58 2,788,200 23,919,534 -8,041,788 BLOOMBERRY 2.1 2.15 2.09 2.14 2.08 2.14 206,000 437,760 213,240 PACIFIC ONLINE LEISURE AND RES 1.88 1.9 1.92 1.92 1.84 1.91 612,000 1,152,540 226,250 2.46 2.49 2.44 2.46 2.44 2.46 295,000 722,780 MANILA JOCKEY PH RESORTS GRP 3.1 3.11 3 3.19 2.98 3.1 25,976,000 80,308,220 -1,786,350 PREMIUM LEISURE 0.42 0.425 0.4 0.425 0.4 0.42 26,640,000 11,059,250 290,800 6.7 6.9 6.9 6.9 6.9 6.9 4,000 27,600 PHIL RACING ALLHOME 8.66 8.69 8.61 8.75 8.61 8.69 1,992,600 17,324,161 2,905,713 METRO RETAIL 1.63 1.64 1.62 1.63 1.6 1.63 4,145,000 6,702,790 -2,154,920 41.95 42 42.45 42.85 42 42 4,224,900 178,502,980 -58,420,175 PUREGOLD ROBINSONS RTL 67.25 68.05 66.9 68.5 66.9 67.25 734,320 49,777,424 9,849,428 PHIL SEVEN CORP 115 115.9 112 116.1 112 115 59,550 6,803,151 3,207,906 1.68 1.69 1.65 1.69 1.62 1.68 10,523,000 17,612,790 -6,064,640 SSI GROUP WILCON DEPOT 17.66 17.7 17.7 17.78 17.64 17.7 1,471,500 26,065,710 11,507,180 0.415 0.42 0.41 0.415 0.4 0.415 3,230,000 1,318,400 4,000 APC GROUP 8.1 8.15 7.92 8.2 7.91 8.18 72,000 581,185 EASYCALL GOLDEN BRIA 440 450 450 450 440 450 680 304,894 -26,400 2.3 2.47 2.3 2.47 2.3 2.47 8,000 18,570 PAXYS PRMIERE HORIZON 0.97 0.98 0.88 1 0.85 0.98 411,521,000 381,797,990 2,122,180 SBS PHIL CORP 5.59 5.78 5.71 5.79 5.53 5.59 21,900 125,038

MINING & OIL ATOK 10 10.1 9.33 10 9.33 10 863,500 8,449,397 50,898 1.79 1.8 1.79 1.8 1.76 1.8 4,127,000 7,355,930 3,620 APEX MINING ABRA MINING 0.0024 0.0025 0.0027 0.0029 0.0021 0.0025 70,762,000,000 173,379,600 -661,500 ATLAS MINING 6.59 6.6 6.43 6.62 6.43 6.6 833,300 5,489,794 145,200 3.04 3.1 3.06 3.1 3.03 3.1 207,000 631,160 BENGUET A BENGUET B 3.01 3.1 3.1 3.1 3.1 3.1 20,000 62,000 COAL ASIA HLDG 0.315 0.32 0.3 0.32 0.295 0.32 3,930,000 1,223,300 -12,200 2.48 2.5 2.44 2.5 2.32 2.5 750,000 1,823,670 CENTURY PEAK DIZON MINES 8.45 8.51 8.5 8.51 8.4 8.51 22,100 187,166 51,249 FERRONICKEL 2.62 2.63 2.55 2.68 2.55 2.63 15,243,000 39,896,000 6,143,750 0.28 0.285 0.26 0.29 0.26 0.28 5,820,000 1,618,350 GEOGRACE LEPANTO A 0.153 0.154 0.153 0.155 0.151 0.154 31,170,000 4,765,460 0.154 0.156 0.156 0.156 0.156 0.156 900,000 140,400 31,200 LEPANTO B 0.01 0.011 0.01 0.011 0.0097 0.011 41,800,000 422,580 MANILA MINING A MANILA MINING B 0.01 0.011 0.01 0.011 0.01 0.011 25,900,000 273,700 1.31 1.32 1.34 1.37 1.3 1.31 6,778,000 9,076,080 5,240 MARCVENTURES 3.06 3.09 3.08 3.3 3.06 3.09 1,638,000 5,091,500 -89,910 NIHAO NICKEL ASIA 5.15 5.16 5.18 5.2 5.07 5.15 15,663,700 80,515,883 33,749,095 0.375 0.385 0.375 0.38 0.37 0.38 210,000 79,300 OMICO CORP ORNTL PENINSULA 0.79 0.8 0.76 0.82 0.76 0.79 6,753,000 5,325,160 38,210 PX MINING 4.84 4.88 4.97 4.97 4.75 4.84 12,175,000 58,528,000 5,348,270.00 13.66 13.72 13.34 13.78 13.34 13.66 4,069,400 55,623,100 1,835,102 SEMIRARA MINING UNITED PARAGON 0.0062 0.0064 0.007 0.007 0.006 0.0064 259,000,000 1,603,700 ACE ENEXOR 11.2 11.38 11.7 11.7 11.18 11.2 522,000 5,908,522 1,176,920 0.011 0.012 0.011 0.012 0.01 0.011 245,300,000 2,705,700 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.012 0.012 0.011 0.012 863,600,000 10,363,100 PHILODRILL 0.0094 0.0098 0.01 0.01 0.0093 0.0094 199,200,000 1,896,670 204,600.00 13 13.1 12.94 13.4 12.7 13.1 1,667,500 21,607,200 1,496,518 PXP ENERGY

PREFFERED ALCO PREF B 101.5 103 102 102 102 102 2,260 230,520 AC PREF B2R 502 508 508.5 508.5 508.5 508.5 11,930 6,066,405 12.02 - 12 12 12 12 100 1,200 BC PREF A CPG PREF A 101.6 102 102 102 102 102 34,000 3,468,000 DD PREF 100.4 102.3 102.3 102.3 102.3 102.3 90 9,207 503.5 513.5 511 511 503 503 6,000 3,023,985 GLO PREF P GTCAP PREF B 1,029 1,030 1,029 1,029 1,029 1,029 10 10,290 MWIDE PREF 100.6 100.9 101 101 101 101 80 8,080 99.8 99.9 99.8 99.8 99.8 99.8 400 39,920 MWIDE PREF 2A MWIDE PREF 2B 99.7 99.95 99.7 99.9 99.7 99.9 720 71,904 PNX PREF 3A 100 100.5 100.5 100.5 100.5 100.5 80 8,040 102.5 104.8 104.8 104.8 104.8 104.8 80 8,384 PNX PREF 3B PNX PREF 4 1,000 1,003 1,002 1,003 1,002 1,003 130 130,290 1,003 1,029 1,029 1,029 1,029 1,029 15 15,435 PCOR PREF 2B PCOR PREF 3A 1,070 1,071 1,070 1,070 1,070 1,070 50 53,500 PCOR PREF 3B 1,110 1,118 1,110 1,110 1,110 1,110 795 882,450 1.7 1.8 1.75 1.75 1.75 1.75 1,000 1,750 SFI PREF SMC PREF 2C 78.8 79 78.75 78.8 78.7 78.8 16,540 1,303,261.50 -68,512.50 SMC PREF 2E 77 77.35 76.85 77 76.85 77 12,940 995,297 78.8 78.95 77.75 78.8 77.75 78.8 3,330 262,297.50 -6,997.50 SMC PREF 2F SMC PREF 2G 76.4 76.5 76.5 76.5 76.45 76.5 22,610 1,729,620 SMC PREF 2I 78.1 78.6 78 78.2 78 78.2 10,000 781,600 75.2 75.9 75.2 75.9 75.2 75.2 820 61,693.50 SMC PREF 2J SMC PREF 2K 75 75.05 75 75.15 75 75 53,320 4,000,845.50 -37,500

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12.1 12.5 12.2 12.2 12.1 12.1 18,900 230,000 GMA HLDG PDR 5.7 5.75 5.7 5.7 5.66 5.7 201,600 1,143,620 255,810

WARRANTS LR WARRANT 0.99 1 0.99 1.02 0.97 0.99 198,000 196,780

SMALL & MEDIUM ENTERPRISES ALTUS PROP 15.02 15.1 14.54 15.16 14.42 15.02 423,100 6,272,680 -204,650 ITALPINAS 3.06 3.07 3.1 3.18 3.01 3.06 2,513,000 7,730,870 -94,940 6.44 6.52 6.2 6.56 6.2 6.52 133,200 859,523 KEPWEALTH MAKATI FINANCE 2.51 2.7 2.7 2.7 2.7 2.7 27,000 72,900 MERRYMART 5.98 5.99 5.93 6.05 5.92 5.99 12,707,400 76,033,952 -1,423,113

EXHANGE TRADE FUNDS

FIRST METRO ETF 109.2 109.5 108.5 109.5 107.8 109.2 30,870 3,364,201 154,941

www.businessmirror.com.ph

Senate probe on RFID fiasco to track operators’ vow to be interoperable

T

By Butch Fernandez

@butchfBM

HE concessionaires for the North and South Luzon expressways will be pressed to account for the progress they have made in making their electronic toll collection (ETC) systems interoperable.

The concessionaires had committed to the interoperability of their ETC systems 3 years ago, by way of a memorandum of agreement (MOA).

Senator Sherwin Gatchalian signaled over the weekend this is one of the key points he will raise when the Public Services committee chaired by Sen. Grace Poe calls for a hearing Thursday on the radio frequency identification (RFID) fiasco.

Both the MVP-led Metro Pacific Tollways Corp., operator of the North Luzon Expressway (NLEX) and San Miguel Corp. for the South Luzon Expressway, had forged a MOA in 2017 vowing to make their operations interoperable to afford motorists seamless travel, and boost commerce, Gatchalian recalled in a radio interview on Sunday.

However, until now, that interoperability has not happened, thus compounding the inconvenience suffered by users of both tollway systems.

In a radio interview Sunday, Gatchalian confirmed the mounting complaints from affected motorists, including himself, even as he endorsed the non-cash toll option expected to be implemented soon. “Bulok yung RFID system,” Gatchalian griped, insisting that toll operators abide by their commitment to improve their service despite imposition of

higher toll fees.

He warned that the government can revoked the toll road franchise if service did not improve.

The Public Services committee set hearings on the tollway problems after the botched implementation of a DOTr-mandated shift to cashless transactions led to massive traffic jams for weeks, as hundreds of thousands of vehicles rushed to get their RFID sticker.

In a separate radio interview, Poe said the government agencies’ actions were also a factor in the RFID fiasco.

She said the Department of Transportation (DOTr) had apparently imposed an arbitrary deadline for the shift to cashless transactions without checking the readiness of the existing tollway systems for that.

The Toll Regulatory Board (TRB) was caught “natutulog sa pancitan [sleeping on the job]” because the fiasco had been playing out for many days and they did not move in to stop the crisis on the ground. Thus, she said, this do-nothing stance of TRB ended up with the concessionaires in a “cockfight” with local government units (LGUs), citing the Valenzuela mayor’s order suspending the business permit of the NLEx operator.

In another radio interview, Gatchalian noted that the resolution seeking the inquiry,

STOCK-MARKET OUTLOOK LAST WEEK

SHARE prices gained last week but investors were cautious as they continued to monitor developments related to the deployment of vaccines against Covid-19.

The benchmark Philippine Stock Exchange index (PSEi) gained 111.60 points to close at 7,246.16 points during the 4-day trading week as Tuesday was a public holiday to celebrate the Feast of the Immaculate Conception.

The main index was up at the first day of trading week but it shed more than 100 points at the resumption of trade on Wednesday. It posted successive gains during the rest of the week.

Average daily trading for the week was still high at P8.75 billion, but foreign investors were net sellers at P513.57 million.

All other subindices ended higher led by the All Shares index that gained 68.36 points to close at 4,318.73, the Financials index rose 5.87 to 1,486.60, the Industrial index climbed 174.29 to 9,420.92, the Holding Firms index added 72.89 to 7,455.87, the Property index increased 143.36 to 3,719.23, the Services index was up 1.45 to 1,533.56 and the Mining and Oil index surged 588.49 to 9,305.97.

For the week, gainers led losers 152 to 87 and 18 shares were unchanged.

Top gainers were Abra Mining and Industrial Corp., Apollo Global Capital Inc., Ferronoux Holdings Inc., Premiere Horizon Alliance Corp., DFNN Inc. and Millennium Global Holdings Inc. Top losers were Liberty Flour Mills Inc., MRC Allied Inc., Seafront Resources Corp., I-Remit Inc., Berjaya Philippines Inc. and Philippine Estates Corp.

THIS WEEK

SHARE prices may continue its upward trend this week as part of the so-called Santa Clause rally that the stock market enjoys leading to Christmas.

Broker 2TradeAsia said the policy meeting of the United States Federal Reserve this week will set the tone for regional policymaking, at least for the initial part of 2021.

“While the street expects the Fed to maintain status quo on rates, any hints to keep them below historical thresholds will inspire more capital mobility given the low cost of money and indirectly make yields on equities more attractive,” the broker said.

The broker advised investors to buy during dips as the main index is currently trading at 18 times its forward price to earnings ratio.

“We reiterate that while corrections do not feel healthy when they form, they build the foundation for more sustainable rallies and...open up good accumulation windows for stocks with unlocked value,” it said.

Immediate support for the main index is seen at 7,000 points and resistance at 7,300 to 7,450 points.

STOCK PICKS

BROKER Regina Capital Development Corp. advised to sell on rallies on the stock of Abra Mining (AR) after it staged a breakout which reached its highest level since 2018.

“At this point, the stock is well above its key short- and long-term moving averages.

AR’s 4-day rally has pushed all the indicators deeply within the overbought regions. The still-increasing buying momentum suggests that AR will be able to sustain its rally in the near-term. However, given that it is also deeply overbought, it’s prudent to start securing the investors’ gains before the stock corrects,” the broker said.

Shares of Abra Mining closed at P0.0025 per share on Friday.

Meanwhile, the broker recommended to take profits on Premiere Horizon Alliance Corp. as it neared its year-to-date high of P0.87 after notching a strong one-day uptick of 12 percent.

“This is also a slight breakout from its nearly 3-week-long resistance of 0.82. This has reignited the indicators’ buying pressure especially since the stock has been on a narrow range of 0.72 to 0.80 for the past five trading days,” it said.

Due to the strong one-day gain in prices, some profit-taking may ensue as investors secure their gains but the broker believes that its pullback will likely be limited by its relatively stable support of P0.77.

Premiere Horizon shares closed at P0.98 apiece last week. VG Cabuag

filed by Senators Nancy Binay and Imee Marcos, seeks to examine the acts of both DOTr and the TRB, besides the private concessionaires.

It was unpardonable of DOTr to set an arbitrary deadline for a full shift to cashless mode when it did not first ensure that the RFID systems were fixed, said Gatchalian.

Accountability

FOR his part, administration Sen. Christopher Bong Go, in advance of the Senate inquiry, pressed officials of the DOTr and the TRB to promptly fix the raging issues over the expressway RFIDs. Go said Sunday that while the issue is currently being investigated, the DOTr, TRB’s mother agency, must address and “resolve the inconvenience this issue has caused to the public as soon as possible” or risk sanctions from President Duterte.

“Meron na po silang ginagawang imbestigasyon at pamamaraan para maisaayos po ang problema d’yan sa trapik na dulot ng RFID,” said Go in a statement. “So, nananawagan po ako sa DOTr at sa TRB na ayusin n’yo na po.

Trabaho n’yong ayusin ang problemang ‘yan at ‘wag ipasa sa publiko ang trapik,” he added.

The lawmaker lamented that “defective RFID tags on some vehicles, such as trucks, leads to a domino effect on the traffic situation­— frustrating many motorists.”

In a statement, he pressed DOTr Secretary Arthur Tugade to hold accountable those who are responsible for the problem or negligent in addressing these issues.

“We appeal to Secretary Tugade, if there is a need to suspend those responsible including the concessionaire, please suspend them now (Nakikiusap po ako sa inyo, kung kailangang suspindihin mo po ang mga may kasalanan, ‘yung mga concessionaire, suspindihin n’yo na po),” Go said.

He recalled that Samar Rep. Edgar Sarmiento, the head of the House of Representatives

MUTUAL FUNDS

Committee on Transportation, also recently warned the TRB they would “ask Duterte to veto the 2021 budget of the agency if it would not fix the mess surrounding the RFID tags needed for electronic toll collection on expressways.”

Go reminded that President Duterte has the prerogative to veto the 2021 budget of the TRB if it fails to fix the issue which has caused discomfort among motorists, adding that the Chief Executive has the option to exercise his veto power, saying: “Karapatan po n’ya ‘yan kung may gusto siyang i-veto, pero ‘di sya pwedeng magdagdag. Pwede po n’ya burahin.”

He affirmed that while the President cannot introduce new items or bring back items in the approved budget, he has the power to veto particular line items. “Pero isa rin po ang ating Pangulo sa nagmamadali na maipasa ang budget. Kapag ipinasa na po ng Senate at House leaders [sa Office of the President], aaralin at mapipirmahan na po ito ng Pangulo bago sumapit ang 2021.”

Go downplayed the possibility that Mr. Duterte would veto the Congress-approved budget bill, saying “the President himself wants the budget to be enacted as soon as possible to address the Covid-19 problem in the country.”

“Mismong ang Pangulo ang nagmamadali na magkaroon tayo ng budget sa January 1, budget para labanan ang Covid-19, para sa medical equipment, vaccine.”

Go recalled this was why Duterte himsef aired an appeal to lawmakers, saying: “Kaya siya (Duterte) nanawagan, sabi niya ‘If you can’t solve it, I will solve that for you’. So, siya mismo ang nagmamadali na ma-approve ang budget.”

He, however, added that it is a presidential option to exercise his veto power, saying: “Still, prerogative po ng ating Pangulo ‘yan kung ibeveto n’ya ‘yung TRB (budget). Sa pagkaalam ko, may ginagawa nang paraan ang DOTr in which kasama ang TRB,” he added.

December 11, 2020

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 227.97 -8.76% -7.17% -1.27% -9.48% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.3101 -5.17% -6.02% 2.28% -5.2% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.154 -14.34% -10.93% -2.75% -14.25% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.8129 -8.82% -7.02% N.A. -9.48% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.7606 -10.15% N.A. N.A. -10.44% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 4.969 -5.74% -5.49% -1% -6.74% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,4 0.7649 -9.58% -7.83% N.A. -10.39% MBG EQUITY INVESTMENT FUND, INC. -A 99.84 -5.49% N.A. N.A. -3.28% PAMI EQUITY INDEX FUND, INC. -A 46.9686 -7.55% -4.96% 0.43% -8.41% PHILAM STRATEGIC GROWTH FUND, INC. -A 490.42 -7.29% -5% -0.32% -7.95% PHILEQUITY ALPHA ONE FUND, INC. -A,D,5 1.0936 9.39% N.A. N.A. 6.16% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.1677 -8.71% -5.18% 0.17% -9.26% PHILEQUITY FUND, INC. -A 34.7129 -7.74% -4.69% 0.86% -8.4% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9146 -9.63% N.A. N.A. -10.17% PHILEQUITY PSE INDEX FUND INC. -A 4.8027 -7.16% -4.45% 1.18% -8.06% PHILIPPINE STOCK INDEX FUND CORP. -A 803.32 -6.93% -4.34% 1.1% -7.87% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7265 -14.88% -8.29% -3% -14.67% -6.66% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.6252 -13.35% -0.72% -13.87% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.9196 -7.2% -4.67% 0.96% -8.11% UNITED FUND, INC. -A 3.3365 -8.15% -4.04% 1.51% -8.67% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 107.7982 -6.86% -4.1% 1.86% -7.83% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.1855 21.32% 3.37% 6.13% 15.28% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.639 21.79% 9.75% N.A. 18.88% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.6661 7.06% -2.98% -0.51% 6.61% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2809 4.16% -1.89% 1.5% 4.58% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6372 1.02% -1.14% -0.38% 0.22% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,1 0.1992 -12.44% N.A. N.A. -12.82% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9694 0.8% 0.3% 2.12% 0.4% PAMI HORIZON FUND, INC. -A 3.7884 0.6% -0.52% 1.5% -0.02% PHILAM FUND, INC. -A 16.9385 0.54% -0.59% 1.38% -0.13% SOLIDARITAS FUND, INC. -A 2.0948 -1.05% -1.73% 1.1% -1.29% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.572 -6.97% -3.09% 0.16% -7.54% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D 1.0217 1.49% N.A. N.A. 0.59% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D 0.9526 -3.47% N.A. N.A. -4.4% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D 0.9363 -4.82% N.A. N.A. -5.73% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8874 -8.51% -3.86% -0.67% -8.97% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES 2.2% COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03902 2.59% 1.94% 2.15% PAMI ASIA BALANCED FUND, INC. -B $1.1407 13.93% 3.56% 5.36% 12.72% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $4.4406 15.45% 7.26% 7.34% 13.55% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,3 $1.1903 6.55% 3.39% N.A. 5.46% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 370.35 3.78% 3.24% 2.83% 3.47% ATRAM CORPORATE BOND FUND, INC. -A 1.8985 -1.59% 0.15% 0.05% -0.18% COCOLIFE FIXED INCOME FUND, INC. -A 3.2106 3.16% 4.55% 4.84% 2.97% EKKLESIA MUTUAL FUND INC. -A 2.2927 3.37% 2.93% 2.48% 3.12% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.4497 4.2% 3.43% 2.19% 3.84% PHILAM BOND FUND, INC. -A 4.6274 6.43% 4.49% 3.19% 5.82% PHILAM MANAGED INCOME FUND, INC. -A,6 1.3181 5.25% 4.44% 2.61% 4.89% PHILEQUITY PESO BOND FUND, INC. -A

3.9831 6.06% 4.51% 3.2% 5.14% SOLDIVO BOND FUND, INC. -A 1.0375 8.38% 4% 2.58% 7.59% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.1929 4.51% 4.73% 3.76% 3.81% SUN LIFE PROSPERITY GS FUND, INC. -A 1.7467 3.42% 4.05% 3.21% 2.68% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $482.88 3.32% 2.73% 2.92% 3.1% ALFM EURO BOND FUND, INC. -A Є218.95 -0.32% 0.75% 1.19% -0.38% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.27 5.44% 3.84% 3.01% 5.2% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0265 2.71% 1.96% 1.75% 2.71% -0.35% 0.35% 0.6% -0.37% PAMI GLOBAL BOND FUND, INC -B $1.0895 PHILAM DOLLAR BOND FUND, INC. -A $2.5246 5.27% 3.96% 3.62% 5.04% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0622622 3.27% 2.73% 2.33% 3.25% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.1926 0.78% 1.96% 2.38% 0.55% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 129.68 3.26% 3.35% 2.57% 3.06% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.0474 1.67% N.A. N.A. 2.06% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2953 2.6% 2.99% 2.61% 2.4% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0519 1.51% 1.73% N.A. 1.31% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A,D,7 1.1119 N.A. N.A. N.A. N.A. PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -B,D,2 $0.98 -1.01% N.A. N.A. -1.01%

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 - LAUNCH DATE IS SEPTEMBER 28, 2019. 2 - LAUNCH DATE IS NOVEMBER 15, 2019. 3 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST OCTOBER 9, 2019.

4 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.). 5 - LAUNCH DATE IS DECEMBER 09, 2019.

6 - RE-CLASSIFIED INTO A BOND FUND STARTING FEBRUARY 21, 2020 (FORMERLY A MONEY MARKET FUND). 7 - LAUNCH DATE IS JULY 6, 2020.

"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."

ExecutiveViews BusinessMirror

B3 Monday, December 14, 2020 | www.businessmirror.com.ph

“TAKING FLIGHT” COUNTRY MANAGER SALAH SAKHI MAHMOOD AL BALUSHI SHARES STRATEGIES ON GETTING MORE FILIPINOS ACQUAINTED WITH BOTH OMAN AND OMAN AIR

By Maan D’Asis Pamaran

O

MAN is a destination known to Filipinos as a hub for OFWs. With 52,000 Filipino workers employed in various capacities including domestic work, retail, and health care according to data from the Philippine Embassy as of May 2020, it is known as a safe destination for workers in the Middle East.

It is likewise said to be one of the safest countries in the world to travel to, and Oman Air, which started operations in the Philippines in 2014, seeks to bring in more Filipino business and leisure travellers as well.

There are many tourist attractions to visit such as souks and mosques where one can soak up the local culture. Oman Air Country Manager Salah Sakhi Mahmood Al Balushi says that pre-pandemic, they started with one daily flight and sought to increase the frequency to three flights when they saw the demand.

Before flights were grounded, Al Balushi says Oman Air in the Philippines was doing very well. “Our ledger has been increasing by as much as four or five times, we were preparing to add more flights.” Then, challenges came early this year, such as the Taal Volcano eruption and the current Covid-19 pandemic. He shares, “The challenges and the inconvenience factors will be there forever, but we accept them and try to prepare for them because we face a lot of this in the industry. What is very important is that we protect our guests first of all, because they are our main responsibility.”

World explorer

ROY DOMINGO

PRIOR to joining Oman Air, Al Balushi worked at a travel agency and a call center as he pursued his studies. He’s been to almost 70 countries he says, and enjoys learning about new destinations and mixes business with leisure. “Travel is my best thing to do and I annually go and explore the new countries, to understand the Asian market all around the world.”

He first came to Manila in March 2009. “My previous role in management was about assisting in

creating competitive pricing standards in line with company objectives, so I went around to places like Bangkok, Kuala Lumpur, China, and the Philippines.

This was in 2015 as the plan from the beginning was to go check the market in Asia.”

Al Balushi admits that he enjoys his time in the Philippines. Now in his first long-staying assignment out of Oman’s capital city Muscat, he says he has adapted to living here. “I feel very comfortable and I am happy. The people around me are nice, and as I am single without any family here. [Before the pandemic] I [can] go out alone to the shopping malls and go anywhere around the city. I feel at home.”

He describes Filipinos as very kind and very hardworking. “Even before I come to Manila, I was meeting with all the teams here because I was doing things such as pricing. Communicating with them in English is easy and I feel at ease dealing with them. There is less of a cultural barrier not only because of the language, but because the people are so nice and they are very welcoming.

Filipinos smile every time and so it is almost the same as what we have in Oman.”

Of course, there is still no place like home and Al Abalushi is proud to be an Omani. As a top official for the national carrier of the Sultanate of Oman, he feels that he is not only representing the company, but is also an unofficial ambassador of the country at the same time.

“I think Oman is not very well-known by the Filipinos, they think mostly of Dubai, and maybe other countries. That is why I am promoting the country, as we saw the potential of the Filipino travellers. When they come to Muscat, they like the city because it is very clean and there are many places to visit. Then they can stay longer and go around other cities. This is why we are pushing for point-to-point promotions, so that more Filipinos can explore the country.”

Oman Air has different marketing strategies, and one of which is to promote Oman as a destination. “In our promotional videos, we show not only our products, but we also highlight

Oman. We believe that if Filipinos know about our packages and our country, then they will go on to promote us as one. We are really focusing more on bringing the people from here to Oman, also to bring Omanis to the Philippines to explore the country.

Even our flyers promote sightseeing at Muscat and other areas, so our guests can see those beautiful places and plan their trip accordingly.”

Service excellence

THE company culture is also designed to reflect the country’s values. “Our training is focused on showing our brand of hospitality to others wherever we are. We also ensure that we put our guests first. With the current situation it is also about being in line with the right and updated information, because it is our responsibility to protect their well-being. We also support our partners in all our markets because they have been there for us and so we have to be there for them as well.”

He proudly reports that their service gets positive reviews from their passengers.

“They have everything starting from the airport to the time they go on board, and they remark even on the product, the cleanliness, and the space. We have many repeat passengers who also try to convince their friends to book with us. We are getting famous on that part because of our good feedback from 99 percent of our guests and we are very happy about that.” With their efforts geared towards excellence, they have now been able to compete with other airlines companies from the Middle East, he adds.

Before the global situation restricted travel, he was focused on developing premium products for passengers from the Philippines.

“Our responsibility is to provide our passengers good service. We want to push our business class further, because we have already seen a 60 to 70 percent increase in demand. Of course, as we expand our products and add more flights, we remain committed to constantly improve our service to make all our guests feel comfortable. That is what keeps bringing them back.”

B4

Monday, December 14, 2020

Banking&Finance BusinessMirror

₧162.79B collected since DOF launched fuel-marking project

T

By Bernadette D. Nicolas

@BNicolasBM

he government has so far collected P162.79 billion in duties and taxes since the start of its fuel-marking program.

Based on an infographic from the Department of Finance (DOF), the government has so far marked 16.43 billion liters of fuel from September 4 last year until December 8 this year.

“Our goal is to have 100 percent of fuel oil inventory at any time marked,” Finance Secretary Carlos G. Dominguez said.

Pressed whether he thinks the government has marked 100 percent of fuel oil inventory, the finance chief said: “I believe so.”

Of the total amount collected from fuel marked, P140.71 billion came from the Bureau of Customs (BOC) while P22.08 billion came from the Bureau of Internal Rev-

enue (BIR).

In terms of fuel type, diesel cornered the bulk or 61.65 percent followed by gasoline (37.81 percent) and kerosene (0.54 percent).

Luzon also got the lion-share of fuel marked at 74.2 percent. Trailing Luzon is Mindanao with 20.73 percent and Visayas with 5.07 percent.

Leading the list of 22 participating companies in the fuel marking program is Petron Corp., with a 22.82-percent share of fuel marked or 3.75 billion liters.

Next to Petron is Pilipinas Shell Petroleum Corp. with 19.64 percent or 3.227 billion liters, followed by Unioil Petroleum Philippines Inc.

with 10.53 percent or 1.73 billion liters, Seaoil Philippines Inc. with 8.37 percent or 1.376 billion liters and Chevron Philippines Inc. with 8 percent or 1.315 billion liters.

Fuel marking makes use of a unique chemical marker that can be embedded at a molecular level in petroleum products—gasoline, diesel, and kerosene—thereby enabling authorities to test, identify and distinguish petroleum products with paid excise taxes.

Under Republic Act (RA) 10963 (Tax Reform for Acceleration and Inclusion Act), petroleum products that are refined, manufactured, or imported to the Philippines such as, but not limited to, unleaded premium gasoline, kerosene and diesel shall be marked by an official marking agent after payment of taxes and duties.

The DOF expects the fuel marking program to halt the illegal importation, manufacturing and other fraudulent activities relating to the use and sale of petroleum products in the country.

The government earlier said it aims to collect at least P20 billion this year, which is half the estimated P40 billion in revenue lost to oil smuggling in the country.

Fuel marking makes use of a unique chemical marker capable of being embedded at a molecular level in petroleum products—gasoline, diesel and kerosene—thereby enabling authorities to test, identify and distinguish petroleum products with paid excise taxes.

Under RA 10963, petroleum products that are refined, manufactured or imported to the Philippines such as, but not limited to, unleaded premium gasoline, kerosene, and diesel shall be marked by an official marking agent after payment of taxes and duties.

Spearheaded by the DOF, the BOC and the BIR, the fuel-marking program was launched with the intention of putting a halt to illegal importation, manufacturing and other fraudulent activities relating to the use and sale of petroleum products in the country.

Insurance group votes Sun Life CEO as prexy

T

he Philippine Life Insurance Association Inc. (PLIA) has elected Sun Life Philippines CEO and Country Head Benedicto C. Sison to the PLIA Board anew as a second-term president.

This election was held during PLIA’s annual business meeting held virtually last 24 November 2020.

Sison expressed gratitude for the opportunity to once again serve in this capacity. “I am honored to be given a fresh mandate to continue leading the Association. This will allow me to pursue the completion of our ongoing initiatives and creating new ones that will enable our industry to rise above the challenges presented

by the prevailing pandemic,” he said.

During his first term, Sison led PLIA in working with the Insurance Commission (IC) to establish regulatory initiatives to allay the adverse impact of the pandemic. Among those implemented were the online product approval process, digitallyenabled selling facility, an online portal for submission of regulatory reports, and relief from the minimum net worth and Risk-Based Capital requirements.

As he assumes his second term, Sison looks forward to working with the other elected members of the 2021 PLIA Board of Directors in further strengthening the life

insurance industry. These include Philippine AXA Life Insurance Corp.

President and CEO Rahul Hora as Vice President; Country Bankers Insurance Group Senior Vice President and General Manager Geraldine Desiderio-Garcia as Secretary; First Life Financial Co. Inc. President and CEO Peter G. Coyiuto as Treasurer; and, AIA Philam Life CEO Kelvin Ang, Beneficial Life Insurance Co. President and CEO Jaime C. Fernandez, Etiqa Philippines & General Assurance Philippines Inc. President and CEO Rico T. Bautista, Troo Ltd. President and CEO Dominik Smeets and Philippines International Life Insurance Co. Inc. President Jose C.

Lee as directors.

“Among the Board’s priorities are working with the IC in launching a facility for the conduct of online agent qualifying examination, initiating the review of the current insurance e-commerce regulations to support financial inclusion and connecting with the Bangko Sentral ng Pilipinas in enabling insurance companies to offer affordable retirement programs for micro, small, and medium enterprises through issuance of a limited trust license,” Sison said.

“The Board will work closely together in promoting the interests of the industry alongside with those of the insuring public.”

Relentless China inflows spur call for strong yuan

T

he unrelenting pace of inflows heading for China’s bonds and stocks has one yuan bull predicting the currency could strengthen to a level not seen in nearly three decades.

A “flood” of foreign cash will chase yuan-denominated assets in 2021 because they’ll offer far better yield than the rest of the world, according to Liu Li-gang, chief China economist at Citigroup Inc. He predicts the currency could rally 10 percent to 6 per dollar—or even more—by the end of next year. The yuan hasn’t been that strong since late 1993, just before China’s unification of official and market exchange rates triggered a plunge in the currency.

The yuan has been on a tear since late May, surging to a more than two-year high as data showed that China’s economy was rebounding from the virus pandemic. Overseas funds have increased their holdings of onshore bonds and stocks by more than 30 percent this year to records, official data showed, prompted by index inclusions and the country’s wide interest-rate premium over other markets. To slow the advance, Beijing has made it cheaper for traders to bet against the yuan and has relaxed capital curbs to allow more outflows. But those measures have done little to dampen optimism.

That puts the People’s Bank of China in a policy quandary. It needs to narrow the yuan’s yield premium over the rest of the world to slow the appreciation, as too strong a currency could undermine its push to support an economic rebound that’s reliant on global demand for Chinese exports. Meanwhile, it wants to keep interest rates elevated, as Beijing’s earlier stimulus helped fuel a rapid

Shipping containers are stacked near gantry cranes at the Port of Nansha, operated by Guangzhou Port Group Co., in the Nansha district of Guangzhou, China, on November 20, 2020. China’s ability to keep selling more of its goods abroad means officials will be in no rush to rein in their strongest yuan in more than two years. Bloomberg News

buildup in leverage, sending an indicator for the country’s debt levels to a record high.

“The problem China faces next year will be huge, unrelenting capital inflow,” Citi’s Liu said. “The yuan’s appreciation will be a key threat to China’s macro economy.”

China’s higher-yielding yuan assets draw foreign inflows

The Chinese currency has strengthened nearly 10 percent from this year’s low in late May, making it the second best performer in Asia following the South Korean won. The yuan traded at 6.5460 on Friday.

The yield on China’s 10-year government bonds climbed in recent months on speculation the PBOC will start to exit monetary stimulus. That has helped widen the yuan’s interest-rate advantage over

the dollar to the largest on record.

Also, the currency is supported by bets that Washington may be less hostile toward Beijing under a Joe Biden administration. A global index compiler’s decision to add some onshore notes in its flagship indexes and a weaker dollar also contributed to the appreciation.

A rapid advance in the yuan could impair Chinese exports by making them more expensive. That will in turn hurt China’s growth, because the nation’s outbound shipments have emerged as a key driver for the economy on global demand for its pandemic-related goods. Also, sustained appreciation in the currency could attract speculative money inflows, fueling local asset bubbles and creating financial risks.

That’s why policy makers will seek to slow the advance, said Dar-

iusz Kowalczyk, senior emergingmarkets strategist at Credit Agricole CIB. The PBOC may further relax restrictions for funds to leave China and guide the exchange rate weaker with its daily reference rates, he said, adding the yuan could end 2021 at 6.35. The last time the yuan got close to 6 was in January 2014, when the currency was bolstered by hot money inflows. The central bank managed to reverse the course of the rally by sharply weakening its fixing rate for two consecutive days.

“We still like the Chinese currency against the dollar, but we do recognize that the pace of appreciation will be slower,” said Stephen Chang, a portfolio manager at Pacific Investment Management Co. in Hong Kong. “We think it’s worth being overweight in China government bonds.” Bloomberg News

www.businessmirror.com.ph

DBP grew loan portfolio to ₧18.8B as of end-Oct

By Tyrone Jasper C. Piad @Tyronepiad

S

tate-run Development Bank of the Philippines’ (DBP) loan portfolio grew by over P18.8 billion in the first 10 months as it continues to extend financing to various sectors, including micro, small and medium enterprises (MSMEs).

“For 2020, DBP has even grown its loan portfolio by more than 5 percent as of end-October since the end of 2019 or by more than P18.8 billion during this period,” DBP President and Chief Executive Officer Emmanuel G. Herbosa said during a listing ceremony last week.

Last year, the bank’s loan portfolio reached P414.06 billion, which showed a 25.88-percent uptick from the P328.92 billion in 2018. The biggest chunk—46.2 percent or P164.8 billion—went to the infrastructure and logistics sector.

“Undaunted by the current economic environment, DBP remains firm and focused in supporting businesses and industries through our various lending programs from the MSMEs to other strategically established companies,” he said.

Herbosa earlier reported that the bank provided P364.4-billion worth of borrowings in the first half, which was a 15.6-percent increase from P315.13 billion in the same period last year.

Of this amount, bulk or P165.3 billion was given to the infrastructure and logistics sector. The social services, environment projects and MSMEs took P77.1 billion, P43. 6 billion and P29.6 billion, respectively.

The DBP chief attributed the surge in borrowings to “aggressive lending activities” by its 30 lending units across the country despite the current economic slump.

In July, the state-owned bank announced it would streamline its lending programs and reallocate funds to initiatives strengthening “its positioning as the country’s infrastructure bank.”

Bond listing

Last week, DBP listed its P21-billion fixed rates series 2 bonds with the Philippine Dealing Exchange (PDEx).

The bonds due in 2022 carry an interest rate of 2.5 percent.

“With the additional funds to be raised at our disposal for development initiatives, DBP can further support projects and investments that generate employment and ensure access to basic access to goods and services and address or mitigate a specific social issue to achieve positive social outcomes,” Herbosa said.

Standard Chartered Bank was tapped to be the transaction’s issue manager. It, along with China Bank Capital Corp., was also the joint lead arrangers and bookrunners.

The selling agents are the DBP, Amalgamated Investment Bancorporation, China Bank Corp., China Bank Capital Corp. and Standard Chartered Bank.

“We look forward to continue serving the financial requirements for our people and our businesses in 2021 backed by the tremendous support received from the market in raising P21 billion for the DBP series 2 bonds,” he said.

Last year, DBP raked in P18.125 billion from sustainability bond issuance under the same bond program. Proceeds were allocated to projects on economic inclusion; climate change mitigation and adaptation, natural resource conservation and pollution control and prevention and other social development initiatives.

Groups urge govt to hike budget for credit registry

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he government should significantly increase the budget allocation of the country’s central credit registry to further perform its mandate in providing accessible financing, a study by Policy and Economic Research Council (PERC) and Makati Business Club (MBC) suggested.

The research by the US-based think tank and business group explained that “while the CIC (Credit Information Corp.) could earn fees, it should not be considered its primary source of revenue,” CIC noted in a recent statement.

With this, both parties emphasized the “the need for the government to substantially increase the CIC’s budget allocation.”

The CIC in September asked for a P90-million government subsidy for next year as it prepares to improve its database management. Of this amount, P35 million is earmarked to better the security and maintenance of its growing credit database.

System improvements will continuously be in place as the credit registry onboard more submitting entities, load additional credit data and further broaden financial inclusivity, the CIC said.

With this, the firm said it is investing in third-party solutions provider to ensure cybersecurity all the time.

CIC, in addition, is earmarking funding for regular annual penetration testing of the Credit Information System (CIS) to discover potential gaps in security.

The MBC-PERC study, meanwhile, noted the increase in quality and quantity of credit data being shared with the CIC. “The CIC has made incredible contributions despite some real significant constraints,” PERC President Michael Turner said. “And it’s not only a pipe-in to the CIC, but also pipes out to the extent that there are accessing entities—lenders who are

making use of CIC data for varying purposes including origination and risk assessment.”

The study underscored the importance of proper management of data quality in developing an effective reporting system.

As of the latest report, CIC has over 22 million unique individual records in its database. It also has 79 accessing entities, including major universal and commercial banks, rural and thrift banks, microfinance, lending and financing companies, cooperatives, and government lending institutions.

CB as regulator

The study also suggested that the Bangko Sentral ng Pilipinas (BSP) may be deemed as the better regulator for CIC than the Securities and Exchange Commission.

The PERC and the MBC said that BSP employs an international best practice in housing the public credit registry.

Ben Joshua Baltazar, CIC’s newly elected President and Chief Executive Officer, said that the CIC was open to looking into the proposed transfer of the credit registry to the Central Bank.

“With the proposed restructuring of the CIC—while maintaining its legal mandate—we look forward to a more efficient and more effective credit registry to service not just financial institutions, not just MSMEs, but all Filipinos to establish creditworthiness, here and abroad,” said Aileen L. AmorBautista, CIC Senior Vice President for Business Development and Communications.

Amor-Bautista added that the CIC was “grateful that the MBC and PERC study was able to recognize all our notable accomplishments, our mission-oriented leadership and staff, and awareness-raising efforts.”

Tyrone Jasper C. Piad

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Monday, July 13, 2020 B Monday, December 14, 2020 b5

How to manage an unaware underperformer

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By Liz Kislik

lmost every leader has been in the uncomfortable position of managing people who think their performance is terrific when it’s actually just adequate, or worse. In fact, in my 30 years of consulting, this challenge has been one of the most frequent and draining management problems I’ve encountered.

1. Be clear about expectations

A nonprofit client I advised had a board chair who was exasperated by the lack of results from a vice president who believed to be doing fine on the job because she was making an effort. The board chair reminded the VP’s manager, a senior executive, that he was responsible for ensuring results.

The manager reinforced performance objectives with the VP, but because he didn’t want to blame her or hurt her feelings, he didn’t spell out clearly the harm she was bringing to the organization or the fact that her job was in jeopardy. He continued to lose confidence in the VP and eventually reduced her du-

ties as an indirect way of acknowledging her lack of progress. Both the board chair and the manager later acknowledged that no one had been direct enough with her about her performance problems.

2. Provide employees with resources and support

Most employees need leadership, mentoring and strong supervision in order to develop, particularly if they’re stepping into a function that’s new to the company or are promoted to fill an absence in the organization. If their natural skills are insufficient to meet the requirements of their role and responsibilities, they may not even perceive what their deficits are. A company I worked with promoted a director to cover the gap left by the sudden departure of an executive two levels up. No one in the senior leadership evaluated the new director’s development needs, despite the fact that he was suddenly responsible for a large number of people performing a variety of jobs. The new director assumed he was doing well by virtue of the promotion. But because this more complex job couldn’t be managed like his old one, the director became a burned-out micromanager, creating operating bottlenecks and severe employee dissatisfaction.

3. Determine whether you’re willing to continue investing in the individual

If you’re not, it’s much more practical to reduce your expectations. In response to increasing frustration

KATEMANGOSTAR | FREEPIK.COM

What causes the mismatch between the employees’ real output and their perceptions of success?

Some may not be receiving the resources and clear feedback they need to develop and improve; others may be unable to recognize that they’re struggling. Whatever the cause, if leaders fail to address the situation, the lagging employee’s work will not improve, and the organization will lose the value of a team member who could thrive if given the proper support. Perhaps a more insidious risk is that the leader will appear to condone substandard work, and competent employees may become demotivated and disengage.

If you can identify the likely cause of an underperformer’s lack of self-awareness, these five approaches will help you correct the problem behaviors—or understand whether that’s even possible:

with a VP who consistently talked a great game but whose results over several years were always just shy of their target, a CEO at a client company eventually reassigned some of the riskier and sexier aspects of the VP’s job to another executive. The VP was offended, but stayed — and became more successful with the reduced scope of responsibilities.

4. Assess whether they’ll accept help

It’s emotionally draining to keep faking success and status when your accomplishments are not legitimate. While some people experience impostor syndrome, many others fall victim to the

Dunning-Krueger effect, a cognitive bias that prevents people from recognizing how badly they’re performing and that they need help.

A middle-level administrator at a client organization bridled at the suggestion that his skills needed to improve and ignored the coaching that was offered to him. He found fault with everyone who questioned him and began setting up his colleagues, undercutting them, and misrepresenting their contributions and concerns. When these actions came to light, the business was forced to let him go.

5. Target praise carefully

When employees with an in-

flated sense of their own performance deliver high-quality work or conduct an interaction well, it’s important to praise them. But letting the praise stand alone can encourage people to think that everything they do is outstanding. Connect your positive comments to other things you want your employees to address. For example, you could say, “Now that you’ve done so well with the ABC presentation, for the next one, I’d like you to also [do the next thing they need to improve]. It’s important because. …” Make sure you’re clear about both the necessary new behavior and why it’s required as part of a satisfactory

job performance. They may still think too highly of themselves, but doing this gives you a better chance of seeing the crucial changes you need.

Helping unaware underperformers be more realistic about their work requires a lot of attention and involvement. Understanding what’s driving their lack of awareness will either help you determine what support they need in order to improve, or confirm your assessment that they just might not be able to satisfy the requirements of the job.

Liz Kislik is a management consultant and executive coach.

How do you evaluate performance during a pandemic?

By Lori Mackenzie, JoAnne Wehner & Sofia Kennedy

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he ongoing crises of 2020 are disproportionately affecting women’s careers, and managers have a responsibility to make sure that bias against women—and women of color in particular—doesn’t do further damage during the upcoming performance review season.

Managers face particularly tough decisions right now. They must figure out how to reward those employees who are “stepping up” during these crises without inadvertently penalizing those who have needed to “lean out.”

Compassion for workers, while very important, is not enough; companies must arm managers with the tools they need to adjust performance expectations within their teams fairly and effectively.

Figuring out how to evaluate and reward employees fairly is hard even in the best of times. In this crisis, managers are facing a trifecta of conditions that make the task even harder. First, in any crisis, managers are more likely to make snap judgments, which are often influenced by stereotypes and are therefore flawed. Second,

the ambiguous and vague nature of questions in standard performance assessments can lead to more bias. Third, the ideal worker norm—the often implicit preference for workers who are able to leave home concerns at home and focus solely on work while on the job—can be additionally burdensome for working mothers, who face inaccurate assumptions that their need for flexibility conflicts with their commitment to work.

Managers need good processes to help block bias in their assessments. One such process, which we call criteria monitoring, involves three steps any manager can learn and practice to weed out bias:

Define effective criteria before making critical decisions about employees

Ambiguity in the factors considered to evaluate employees leads to biased outcomes, whereas thoughtfully developed and clearly defined criteria can help level the playing field.

Start by considering what’s important for a certain role. Then, as much as possible, define those success factors in concrete and measurable terms. For example, “being innovative” is not mea-

surable, but “bringing together people from different functions and perspectives in forums that encourage idea sharing and problem solving” is.

Next, look for unintended consequences or hidden preferences in the criteria you’ve chosen. For example, “stepping up one's performance” has an unexamined preference for those “ideal workers” we mentioned previously. Consider the case of Cisco, a web platform connecting millions of people working from home as a result of the pandemic. Many Cisco employees stepped up, working around the clock to meet the increase in demand for their product. At the same time, the effort that managers put in supporting employees in need of more latitude to take care of family or personal issues during this period may go unnoticed if evaluations only focus on whether the employees have stepped up.

Factors such as "employee care" and "meeting customer demands" are valuable to the overall health of the organization and should be recognized as such.

Similarly, “visibility,” a criterion that’s often problematic in normal times, can be dangerous in our world of videoconferenc-

ing. Working parents might not make it to every meeting and will thus be less visible, but they may also be making other meaningful contributions. To mitigate the impact of Covid-19 on the careers of those already disproportionately burdened, organizations must carefully consider what they truly value and wish to reward under the current circumstances rather than simply carrying over the old criteria from last year’s evaluation cycle.

Align all decision-makers

Decisions are often made in a shared context. It’s not enough for company policies to be clear about evaluation criteria; everyone doing assessments should not only use the same criteria, but also understand and share the same definitions of them. Get managers together to align on the most important criteria and be explicit about how to measure them precisely and consistently.

Pay particular attention to overlooked behaviors and skills that have become important in the new context, such as "managing team infrastructure by sending out meeting minutes" and "checking in on colleagues." One manager may

recognize these as essential contributions, but another may not.

When managers align on shared metrics in advance of decisions, individuals are less likely to act on biases.

Promote accountability and consistency

We call this final step “monitoring.”

Encourage managers to monitor one another when discussing performance. If a manager notices a peer misusing criteria or being ambiguous in an evaluation, the former should ask the latter about it. For example, the manager could say, “What criterion did you use to come to that assessment?” or “Why didn’t you include infrastructure-building behaviors in your assessment?”

If a supervisor downgrades an employee for missing an impromptu meeting due to a Black Lives Matter protest, a colleague may ask, “Didn’t we agree that we would not be downgrading performance if someone was involved in a protest or similar activities? How would you describe the employee's overall performance otherwise?” Remember, bias is often unconscious.

Some may argue that managers are already burned out and it’s not fair to add one more task to their

plates. However, even the most skeptical managers we’ve worked with to clarify and simplify their evaluation criteria ultimately viewed the process as a net benefit.

As one manager explained, reworking their evaluation system allowed him to rank individuals with consistency and fairness. “I was comparing apples to apples — I felt more confident behind the ratings than I might have in the past,” he said.

Big decisions lie ahead. We know that criteria alone can’t undo the potentially widespread impact of the ongoing events of 2020 on workers and workplaces, but reconsidering the factors at play in a company's performance review process can equip managers to create a "new" normal that values employee well-being and holds people to a standard of fairness and equity. By embracing the right strategies, organizations can deliver on their intentions to advance organizational aims during tumultuous times.

Lori Mackenzie is a co-founder of Stanford VMware Women’s Leadership Innovation Lab at Stanford University, where JoAnne Wehner is a sociologist and Sofia Kennedy is research project manager.

B6 Monday, December 14, 2020

DLSU celebrates Animo Christmas! 2019 Tony Del Rosario appointed president of Coca-Cola PH effective January 1, 2021

TONY Del Rosario, new Coca-Cola PH president

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FTER 108 years of being in the country and almost three decades since the business was led by a Filipino, the global beverage brand recently announced homegrown and returning Filipino talent, Tony Del Rosario as the next president for CocaCola Philippines, and vice president of

franchise operations for Coca-Cola East Region (PH, Vietnam, and Cambodia) effective January 1, 2021.

With over 20 years of experience within the Coca-Cola system both locally and internationally, Tony is set to deliver on the Company’s ‘emerging stronger’ global strategy announced earlier this year. His main focus is to further cement Coca-Cola Philippines’ strong foothold, not only in the country, but across ASEAN as well – driving further growth through consumer centric brands and continuously making a positive difference in the local communities. As president, Tony will work on the strategic business objectives in partnership with the Bottling Investment Group (BIG) leads for these markets.

“The Coca-Cola business in the Philippines, Vietnam and Cambodia are all thriving and vibrant, despite the challenges we faced recently. I am confident that with Tony’s leadership partnered with highperforming teams in these three countries, we will continue to emerge stronger.” shared Claudia Lorenzo, president of CocaCola ASEAN and South Pacific.

Tony started his career as Coca-Cola region manager for North and South Luzon. After almost two years in the role,

he was appointed national operations director. A year later, he took on his first international post in Indonesia to become sales & marketing director of Ades Waters in a joint venture between Coca-Cola and Nestle. He was seconded to the bottler, Coca-Cola Amatil Indonesia, as commercial director and was based out of Jakarta for seven years.

He began his journey in general management in 2008. More recently, he led more markets as general manager for Malaysia, Vietnam, Singapore, Myanmar & Cambodia, and as commercial lead for the whole ASEAN region.

"I am grateful to have been given the chance to learn and understand the diverse cultures of different Coca-Cola markets. But the biggest honor is to go back to my home country after 20 years and serve my fellow Filipinos, especially during this time. With Coca-Cola’s rich history in the country, I am energized to lead and support our continued investment, growth & purpose in the Philippines,” Del Rosario said.

The BA Commerce graduate of the Santa Clara University in California is an active board director of Gawad Kalinga Community Development Foundation.

Mang Inasal Take-out and Delivery Blowout runs anew from Dec. 18-28

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O further contribute to the Holiday vibe, Mang Inasal’s Takeout and Delivery Blowout deal makes a comeback from December 18 to 28, 2020!

The Christmas treat comes in a free Mang Inasal Palabok Family Size for every takeout or delivery of Mang Inasal Chicken Inasal Family Size Large Paa or Pecho, regular or spicy. The 4-piece Paa Large Family Size is priced starting at Php360 while the 3-piece Large Pecho Family Size is sold from Php305.

With the blowout deal, you get to enjoy savings of as much as Php199.

To allow more people the chance to enjoy this Takeout and Delivery Blowout, Mang Inasal customers can buy only up to a maximum of three orders of Chicken Inasal Family Size

Large meals per transaction.

The free Mang Inasal Palabok Family Size – which is good for 4 -5 people – has also been well received since its launch.

This merienda staple of noodles in thick rich sauce, seasoned with chopped spring onions, slices of hard-boiled egg, chicharon bits, meaty pork and tinapa seemed to have addressed the cravings of a growing number of Mang Inasal customers.

Have your orders delivered via GrabFood, LalaFood, or FoodPanda.

For takeout, go to Mang Inasal's Facebook page https://www.facebook. com/MangInasalPhilippines for the list of Mang Inasal stores you can visit, or join Mang Inasal's Viber community for more interesting deals.

Diageos ‘Clean Serve – Raise the Bar’ program supports local F&B sector to bounce back amid the pandemic

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N its aim to help the local Food & Beverage (F&B) industry bounce back amid the COVID-19 pandemic, Diageo Southeast Asia, a global leader in beverage alcohol, has launched its “Diageo Clean Serve – Raise the Bar” program in the Philippines to support the business community and lean in on economic recovery of the F&B and tourism sectors in the cur-

rent and post pandemic environment.

“The COVID-19 pandemic has fundamentally altered the way people work, live, and lead their daily lives. As the world begins to resume some level of normalcy, what is certain is that there would now be heightened standards relating to hygiene and safety standards, especially as restaurants and bars reopen for business, and tourism travel slow-

ly resumes,” said Corporate Relations Director Gerrard Paez.

This prompted Diageo to roll out a training program that aims to “raise the bar” on hygiene standards as well as rolling out various collaterals such as handwash posters, pamphlets and hand sanitizers. This program aims to target front line on-trade staff, including waiters, bar staff, and bar tenders.

Diageo however, clarified that the Diageo Clean Serve is not an accreditation program and does not replace existing government requirements on hygiene, food safety, and handling standards. But restaurants and bars who subscribe to the program will have to receive the relevant training by the Diageo Bar Academy and commit to maintaining the highest level of hygiene standards for their staff and location.

This would in turn give consumers confidence when they walk into a bar, knowing that the staff have been adequately trained and that the premise is a safe place to be, as well as help Diageo’s on-trade partners bounce back through these proactive efforts.

Of this, Paez added, “Diageo is committed to working in partnership with the restaurants and bars in the on-trade to adapt to these behavioural changes to ensure a strong post-COVID-19 recovery.

Together, we will emerge stronger.”

T

O formally open the 2020 Christmas Season, De La Salle University held the Animo Christmas! Program on December 1.

Following the institutional Mass is an opening program that featured a lighting ceremony of the St. La Salle Hall façade and Nativity scene.

Aptly themed “A Celebration of Hope and Healing,” the celebration is aimed at providing meaning and inspiration to the Lasallian family during this Yuletide season amidst the challenging times.

The DLSU community also holds online activities towards the run-up to Christmas. The Animo Christmas! Bazaar started on December 8 and will continue until the 22nd. Christmas shoppers can acess the bazaar on Facebook: https://facebook. com/AnimoChristmasBazaar2020.

The Lasallian Pastoral Office (LSPO) will be holding online Simbang Gabi from December 15-23 every 5:00 PM. This will culminate with a Christmas Eve Mass on the 24th of December here: https://facebook.com/LSPOManila.

RED CROSS RECEIVES 99,000 KN-95 MASKS DONATION. Yara Fertilizers Philippines, Inc., donated 99,000 KN-95 masks to the Philippine Red Cross in support of the global fight against COVID-19. Through this donation, Yara aims to protect frontline workers and prevent the spread of the virus where risk is most prevalent. The donation was formally turned over to the Philippine Red Cross on November 5. At turnover rites, from left: Jayson Familara, Yara Global Work at Heights Expert; Albert Nacionales – Philippine Red Cross Warehouse Officer; Wilson Alegado - OIC Philippine Red Cross Logistics & Warehouse Manager, Renelle delos Santos, Yara Fertilizers Phils., Inc. Marketing Manager.

Duty Free PH adopts new logo to pave way for relaunch

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OR the past three decades, Duty Free Philippines (DFP) has been an iconic brand in the country’s travel retail industry, particularly among the “balikbayans” and Overseas Filipino market. As an attached agency of the Tourism Department, it has, through the years, been true to its mandate of providing the duty and tax free shopping needs of its limited market of international travelers.

With the evolving consumer preferences and shift in retail models, DFP has to continuously find ways to be at par with the current global business trends. Renovation works, especially at its flagship Fiestamall store near the Manila International Airport terminals were undertaken. Luxe Duty Free, a high end luxury shop was established and strategically located at the country and Asia’s biggest mall complex. Its international airport stores, especially at Mactan in Cebu, were upgraded. More popular and exclusive brands were launched to further expand its merchandise mix.

A new logo was hence developed to complete the company’s rebranding. The logo was carefully remodeled so as not to lose its trademark Filipino homey feel hence retain-

ing the popular basket weave design. The refreshed logo now emits sophistication and elegance with the black and gold colors while the diamond shape symbolizes excellence – true to DFP’s goal to be the country’s premier travel retailer. According to DFP Chief Operating Officer Vicente Pelagio A. Angala, “The new logo design reflects what DFP is today while the core elements representing the Filipino’s traditional duty free shopping has been retained.”

The formal launch, however, has to be put on hold due to the pandemic. “Our planned relaunch and rebranding would be inappropriate at the moment considering the travel restrictions in place and the company’s precarious business situation. However, we deemed it best to push through with the use of the new logo”, Angala said.

“We shall slowly introduce this new DFP logo to serve as a reminder for us all that there is hope for new beginnings and a fresh start.

We would like to give our customers something to look forward to. The new logo is our way of announcing to all that we are all set to give you a newer and better Duty Free Philippines“, he added.

Give the gift of limitless joy for Christmas

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ITH the kind of year that 2020 has been, Filipinos are up for a different kind of Christmas. Health threats still abound, while quarantine measures and safety protocols are still in place, leaving many with limited choices to celebrate the season, which is traditionally the most festive in the country.

For LIMITLESS, the app-based loyalty program, the season of gift-giving can still be merry as it introduces digital vouchers ideal for gifting family and loved ones with utmost convenience, and while observing quarantine and social distancing policies.

Starting December 8, LIMITLESS members can avail of virtual vouchers using the LIMITLESS app, making gift-giving this holiday season still joyful, but more convenient.

Available in P100, P500, and P1,000 denominations, vouchers for Phoenix gas stations, Phoenix SUPER LPG, and FamilyMart can be purchased using GCash and GrabPay. “This Christmas season, we’re making gift-giving easier for Filipinos as we offer digital vouchers that are ideal for purchasing a range of different products, most especially essentials. This comes at a time when contactless transactions are preferred due to the ongoing threats of the pandemic,” said LIMITLESS Brand Manager Kenneth Ocampo. “We Filipinos love Christmas, and while it’s not going to be the usual celebration, we want to help make it special, but still safe.”

Once purchased, the vouchers can be sent as a gift to other limitless members using the app. When shopping, the voucher owner sim-

ply needs to open the app and show the voucher for it to be applied towards a purchase.

Offering more value with every purchase at partner establishments, LIMITLESS allows members to earn points, which can be used as discounts and other benefits. Signing up for an account can be done in just a few taps using a user’s mobile number, Facebook account, or Gmail account.

As a special holiday treat, the vouchers are available at a 10% discount until December 31, 2020. The LIMITLESS app can be downloaded for free from the Google Play Store, the Apple App Store, and the HuaweiApp Gallery.

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Monday, December 14, 2020 B7

Six accomplished women get hooked on K-Drama I

PR Matters

By Joy Lumawig-Buensalido

WAS pleased by readers’ enthusiastic response to my recent article, What our creative industry can learn from the Koreans and their K-Dramas (published here on November 30, 2020), but I was especially thrilled to learn that some women friends—UP graduates all who share the qualities of wisdom, grace, and experience—also happen to be huge followers of the Kdrama phenomenon. Just imagine accomplished, mature, and fiercely independent ladies watching, enrapt, as the Koreans’ well-crafted narratives unfold. With their strong opinions about the world at large, what do they find useful, edifying, or even entertaining about these shows?

I simply had to ask for—and gather—these women’s personal inputs to boost what I have already established: that Korean drama has deftly introduced the best of their country and culture through their deliberate and mindful depiction of Korean lives in various storylines. This grand, concerted effort between their writers and their country to project Korea in a most positive manner has been richly rewarded by worldwide attention and even validation by critics. Let’s hear it from my lady friends:

unpredictable. Then they show the most scenic places in their country.

There are two titles I would recommend to friends and to those who are still unsure about jumping into the K-drama bandwagon: Start-Up, a recent view. It weaves a beautiful story around the saying that family isn’t always blood and gives a hopeful view of the role technology plays in making the world a better place.

The King: Eternal Monarch is quite engaging with its concept of parallel worlds. It is uncanny that the female leads in these two K-dramas have the same habit of tying their hair into ponytails when faced with a serious situation. Both have strong characters.

Chatie Cruz Former advertising executive and community volunteer Huntington Beach, CA

Irene Ragodon Guevarra Lawyer, former secretary of the Senate Electoral Tribunal While still busy with work, I couldn’t comprehend why an officemate was so into Korean dramas that she went to the extent of taking up a Korean language course at the Ateneo. Now that I have become a K-drama fanatic myself, I fully understand why.

What I appreciate as a lawyer is, first and foremost, their sense of justice. The kontrabidas would surrender themselves to the authorities in the end and accept the punishment they deserve. Secondly, being a senior citizen myself, I admire the respect they show to their elders and new acquaintances by speaking formally and constantly bowing. The third reason is their healthy living. Their scenes always include one of the main characters exercising, brushing their teeth, and other good hygienic habits.

(Although, of course, there are also characters that get drunk on soju!)

Aside from tackling a wide variety of subject matters, topics and issues, they turn what appears to be least interesting into something quite fascinating (such as weightlifting). Their stories are also quite

Sustainability: WWF-Philippines, GCash work through pandemic to reforest 75 hectares of Ipo Watershed IPO WATERSHED, BULACAN—The World Wide Fund for Nature (WWF) Philippines, together with GCash, completed the reforestation of 75 hectares of Ipo

Watershed as of the end of November.

The milestone comes despite the coronavirus pandemic, which left much of the nation under lockdown for several months of 2020. WWF-Philippines, together with partner GCash, opted to push on with reforestation work, noting the importance of continuing with conservation work in the face of the current climate crisis.

Recent water shortages caused by siltation in Ipo Dam further stressed the need to protect and rehabilitate the crucial, but damaged, watershed.

“The pandemic has shown how taking care of nature is actually about

I don’t remember how I started watching K-dramas but it must have been when lockdown was enforced here in the US last April. I believe it was a post on Facebook that got me curious about Crash Landing On You. This was the first-ever Korean drama I watched and is still my favorite!!! I was skeptical at first, especially the effort of having to read the English subtitles.

But from the very first episode, I was hooked! The storytelling was excellent and so engaging, and the production/photography was stunning!

But it was the acting of the entire cast, especially by Hyun Bin and Son Ye Jin, that really pulled me in to follow the story all the way to the end…simple, natural/true to life, never overacting, heartwarming!

The series also featured beautiful, memorable original music that was appropriately played in significant scenes, evoking the desired emotion for that particular scene.

Crash Landing On You is categorized as fantasy because of the unlikely relationship between a very handsome, very gentlemanly North Korean captain and a beautiful, sweet, but confident South Korean chaebol heiress, but the writers made the story believable all throughout, including the happy ending. I was so impressed by CLOY that I watched the entire series three times just to make sure that I did not miss anything because of having to read the subtitles!!! CLOY definitely is the reason why I’m watching—and looking out—for other Korean dramas to watch! I am definitely hooked now.

taking care of ourselves, and others on this planet. The rest of the world may have stopped, but those who take care of our environment did not,” said WWF-Philippines Project Manager Paolo Pagaduan.

The Forests for Water program, which Pagaduan oversees, has sought the rehabilitation of Ipo Watershed since 2016. With their partners, WWFPhilippines works to secure the natural integrity of the watershed.

As important as the conservation of Ipo Watershed may be, both WWF-Philippines and GCash recognized the severity of the pandemic, and as

Araceli “Tillic” Lorayes Retired life insurance executive and former journalist, now a couch potato waiting for January to start a new Bible study session I began to watch K-dramas during the lockdown and my first impression was that it is a vast conspiracy to make us crave for Korean food.

Each drama has not one, but many scenes, of everyone enjoying grilled pork belly, kimchi and kimchi rice, ramen, and spicy rice cakes. I started with Crash Landing on You, which I loved. Now I’m hooked by the cinematography, the scenery, the imaginative plots!

However, I have a bone to pick about the heroines. I’ve watched I don’t know how many K-dramas, but I can only think of maybe four or five in which the heroines are portrayed as having real agency. All too often, even heroines who are explicitly described as intelligent are shown as doing really dumb things—they are impulsive, ruled by emotion, unwisely keep secrets from their significant others, etc.

And what’s with all the wristgrabbing? I don’t think I’ve ever heard the hero just say, “Look, we have to talk” rather than grabbing her wrist, cave-man style, and dragging her off to a quiet corner.

The best K-drama I have watched is Money Flower. It’s actually a toss-up between Money Flower and VIP. Money Flower is a story of revenge and VIP is about the corrosive effects of marital infidelity on the people involved. (I got bored with the romcoms after a while.) Both dramas had great actors, but “Money Flower” has a slight edge in terms of plot and music that seamlessly integrates into the whole mood of the story. Plus, the whole story takes place in wintry settings, further embellishing the atmosphere of coldness and bleakness.

Bing Mataverde-Bonggo Former bank executive and contented grandmother I agree with everything you wrote about K-drama, especially regarding

such has worked to ensure the health of volunteers and the communities of Ipo Watershed alike. Staff in charge of reforestation work have since stayed within the watershed since the start of the pandemic, in order to reduce chances of the disease reaching the local communities.

The seedlings used for reforestation were also sourced from within Ipo Watershed. A nursery, established at the end of 2019, supplies seedlings from native trees already located within the watershed.

“We’re aware of the risks brought about by the pandemic, but our

how our own local dramas do not measure up to them despite our numerous talented and creative writers. Whenever I watch Pinoy soaps, I get frustrated and sometimes angry with the writers and directors because the plots and twists they present are sometimes so superficial.

I once had to comment: Please don’t insult the intelligence of your viewers. For example, the “contrabida” is already apprehended but he still manages to escape “magically” because the soap is still trending.

They obviously want to extend it just to get more commercials and revenues in.

One Korean series I would recommend is the latest that I have watched: Wok of Love. I enjoyed it immensely because of the stiff competition between the head chef of the Giant Hotel and the humble chef of a lowly Chinese restaurant across from the hotel called Hungry Wok. This series was very suspense-filled for me with three leading stars: the chef of Hungry Wok, the gangster, and the female love interest of the two male leads. Their interwoven story is made even more interesting by the individual life stories of each person in the cast, including the support staff.

Be prepared to feel hunger while watching the kitchen scenes in both the Giant Hotel and Hungry Wok. It constantly whet my appetite for Jjajangmyeon. This K-drama will not only tickle your romantic heart but also your gustatory senses. I will say no more. Just that Wok of Love has awakened so many wonderful feelings in me and it made me happy.

Marline Dualan Corporate and marketing communications expert and K-Drama Aficionado In 2009, I chanced upon the third episode of Boys over Flowers in KBS. I found BOF highly entertaining and a very effective way to clear my mind of work stuff. I looked forward to each episode and when the series ended, I had to find a new drama to watch. I have been hooked on Kdrama since then! It’s hard to choose a favorite as the more memorable ones for me are extraordinary in their own unique way.

I marvel at how K-dramas are able to so effectively promote South Korea’s beautiful spots, its history, and its culture against the backdrop of life’s everyday challenges. The scripts are well-written and wellresearched. The acting is not too melodramatic. The stories are just

conservation work in Ipo Watershed is of utmost importance. With the locals of Ipo Watershed, we found newer, safer ways to keep on rehabilitating the watershed throughout the year,” added Pagaduan.

GCash has supported the reforestation and rehabilitation of Ipo Watershed since 2018. Through GCash Forest, GCash aims to plant 365,000 seedlings across the country, 120,000 of which have been committed to Ipo Watershed.

“Responding to the threats of climate change calls for innovative solutions and more collaborations between the public and private sectors.

so engaging that I can truly empathize with the characters. K-dramas have definitely succeeded in drawing so many people to visit South Korea to have a first-hand taste of what they’ve seen on screen.

Thanks to K-dramas, I feel so at home every time I visit Seoul. I feel like I am actually living my K-drama dream, with each trip making me increasingly appreciate the culture of its people and the beauty of its environs. And yes, watching K-dramas during the pandemic makes me long for Seoul even more.

Jingjing Romero PR and DevComm consultant; current chairman of Ipra Philippines We all are K-drama fanatics. I have been a Korean culture admirer since the early ’80s. I spent a week (under an exchange grant) to learn more about Korea and its success story.

The Saemaul Undong movement was the best model for grassroots development that we in the Development Academy of the Philippines and the Productivity Development Center attempted to learn and integrate in our countryside development program then.

I would recommend Reply 1988 to everyone. It’s a story of love and friendship among neighbors.

Not only did the kids become best friends, confidantes, and partners in crime, but their parents also had kinship and supported each other when the chips were down. They laughed, they cried, and they became each other’s cheerleaders at every obstacle and at every triumph or happy occasion.

Reply 1988 brought back happy memories of my own childhood when my neighborhood playmates became part of my family. Those unforgettable games, the camaraderie, and the dreams that my friends and I still remember vividly to this day were basically the same values and sentiments I found in this K-drama.

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 premiere association for senior communications professionals around the world. Joy Lumawig-Buensalido is the president and CEO of Buensalido & Associates Public Relations.

PR Matters is devoting a special column each month to answer our readers’ questions about public relations.

Please send your questions or comments to askipraphil@gmail.com.

GCash Forest is a true testament to this collaboration and is promising in its utilization of technology to help restore our forests, increase awareness on our tree species, and secure our country’s natural resources for future generations,” said GCash Head of Public Affairs and Corporate Social Responsibility Mabel Niala.

As the climate crisis progresses, the more its effects are felt in countries like the Philippines. Both WWF-Philippines and GCash remain committed to protecting the countries’ ecosystems, in order to prepare Filipinos for the current climate crisis.

Sports BusinessMirror

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| Monday, December 14, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Eligibility issues arise after league scraps Season 83

JAPANESE HANGS ON H

OUSTON—No spectators. Two golf courses in play for the opening rounds. A major championship two weeks before Christmas. Nothing about this US Women’s Open felt normal until Saturday.

That’s when it became a grind that for so many years has defined this biggest event in women’s golf.

The long, soft and mud-splattered Champions Golf Club put a premium on par.

Hinako Shibuno did her best to hang on.

The 22-year-old from Japan watched a four-shot lead shrink to a single shot when her par putt on the final hole slid by the cup for a three-over 74. She still had the lead on a day so tough only two of 66 players broke par.

“All the holes seemed to be very difficult for me,” she said.

It was like that for just about everybody.

Amy Olson, who nearly holed out from the 17th fairway and finished strong for a 71 that felt much lower, lost track of how often she had mud on her golf ball.

Stacy Lewis saw her chances of winning on her home course slip away with consecutive three-putts, the second one for a triple bogey on the 14th hole.

Next up might be the toughest day yet.

Rain that soaked the course Friday night was expected throughout Sunday, and the US Golf Association moved up the starting times as early as possible with hopes of crowning a champion.

Shibuno, going for her second major in as

many years, was at four-under 209 and headed for the practice range to sort out her driver, staying there until the fading sun cast long shadows.

Moriya Jutanugarn, playing in the same group as her two-time major champion sister, Ariya, was right in the mix until she bladed a bunker shot to the back of the 17th green and three-putted for a double bogey. She still managed a 72 and was three behind, among only four players who remained under par.

The other was Ji Yeong Kim2 of South Korea, who was on the opposite end of the Cypress Creek course. Kim2 made the cut with one shot to spare and shot a 67—one of only two rounds under par—that moved her into a tie for third. Kim

Joshua KOs Pulev to retain heavy belts B

Y rediscovering the thrill of a brutal knockout, Anthony Joshua cleared the way to a shot at being the undisputed heavyweight champion of the world.

With a big right hand that sent Kubrat Pulev, a durable but one-dimensional Bulgarian, to the canvas for a third and final time, Joshua secured a dominant ninth-round win in his U.K. homecoming on Saturday to retain the WBA, WBO and IBF belts.

It wasn’t long before the inevitable question was thrown at him: is WBC champion Tyson Fury next in what would be an all-British blockbuster to unify the four titles in boxing’s marquee division?

“Whoever has got the belt, I’d love to compete with them,” Joshua said. “If that is Tyson Fury, let it be Tyson Fury.”

If that felt a slightly non-committal response— and it was taken that way by Fury in a video message

he released moments later—Joshua’s promoter, Eddie Hearn, left no room for debate.

“We know what we have to do starting from tomorrow: to make the Tyson Fury fight straightaway,” Hearn said, a big grin on his face.

“It’s the only fight to be made in boxing. It’s the biggest fight in boxing.”

An agreement in principle has already been reached on a two-fight deal between the two Britons

finished by chipping in for birdie on the par-5 ninth hole.

The Philippines’s Yuka Saso fumbled with a six-over 77 and dropped out of contention. The 19-year-old Filipino-Japanese carded a 77, her worse in three days following earlier efforts of 69 and 77, to fall into a share of 25th place with a 277.

Saso’s fellow gold medalist at the Jakarta 2018 Asian Games, Bianca Pagdanganan, earlier missed the cut by two strokes when she limped with a 75 for a 147. AP

YUKA SASO drops out of contention after her third round 77 effort. AP

for 2021. It just needed Joshua to dispatch Pulev in the first defense of his titles since regaining them in a rematch Andy Ruiz Jr. in Saudi Arabia a year ago.

He did so in impressive fashion, mixing patience with his renowned power to subdue and then dismantle Pulev in front of the first crowd for a British boxing fight since the coronavirus outbreak. Only 1,000 spectators—a number that included boxing royalty in Floyd Mayweather— were allowed inside London’s Wembley Arena because of government restrictions on the amount of people allowed into sporting events, and they witnessed a one-sided fight. AP

Anthony Joshua clears the way to a shot at being the undisputed heavyweight champion of the world. AP

C

OACHES have expressed their concern over their players’ eligibility after the University Athletic Association of the Philippines (UAAP) announced on Friday the cancellation of Season 83 because of the Covid-19 pandemic.

This marks the second time in league history that a season was canceled. The UAAP was shelved from 1941 to 1946 because of World War II. Ateneo Blue Eagles Coach Thomas Anthony “Tab” Baldwin sympathized with the players, saying student-athletes should be given options especially if they are applying for the Philippine Basketball Association Rookie Draft.

“Whatever the scenario, if they would have been eligible to play for five years, I think they should have the option [to play],” Baldwin said. “But I also think they should also have the option to apply for the [PBA] draft if they’re going to be finished with their eligibility.”

Baldwin, also the Samahang Basketbol ng Pilipinas program director, said the Covid-19 pandemic wasn’t the universities or athletes’ fault so he is hoping for the league’s utmost consideration.

“The reality is that when the players came to the university with different levels of eligibility—transfers or high-school recruit—there was no virus, and they knew what they are committing too,” he said.

Baldwin said the Blue Eagles haven’t train collectively but are in touch online with their personal training.

National University women’s basketball Coach Patrick Aquino expressed concern not only on the eligibility of his players but also on their bid to set the record as the team to post the longest winning streak in college basketball.

University of Connecticut owns the world record of 111-game winning streak in the US National Collegiate Athletic Association the team set in April 1, 2017. The Lady Bulldogs are unbeaten since 2013 in 96 games in the UAAP and Season 83 would have been enough for them to break the record.

“We, as the defending champion, are very frustrated that there’s no UAAP this year. We are aiming to break that UCONN’s winning record,” Aquino said.

But Aquino said the health and safety of the players will always be the priority.

Aquino said he will give his players the freedom to complete their elibility or leave the school.

“It is really up to the players if they will pursue life after baskeball. You just cannot force them to stay especially if they want to help their family after graduation,” he said. Josef Ramos

Valientes rule Down Under

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HE Zamboanga Valientes MLV topped the Australia 3X3 Christmas Hustle on Saturday at the Belconnen 3x3 outdoor courts 42 Oatley court in Canberra, Australia.

Former St. Francis of Assissi College player Chris Concepcion, Eric Miraflores, SudaneseAustralian Duom Dawam and 18-year-old prospect Adam Compton made Zamboanga proud for their championship run.

Now, team management is looking forward to more international competitions.

“This is only just the beginning and we’re looking for more 3x3 tournaments around here in Australia or maybe in other countries next year after this pandemic,” Zamboanga Valientes

co-owner Michael Venezuela said.

“It is time for the Zamboangueños to show their skills around the world after winning this title,” he added.

The Valientes, who are supported by Zamboanga City Mayor Beng Climaco, defeated the Orange Buckets, 16-11, in the semifinals before upsetting the Black Buckets in the championship, 14-7.

“It was a great early Christmas gift not only for us but also for the entire Zamboangueños.

We are the only Asian team and most importantly the only one representing Zamboanga City, Philippines,” said team coowner Junnie Navarro, son of businesswoman and philantropist Cory Navarro.

Addio Paolo Rossi.

Rick Olivares | bleachersbrew@gmail.com

Bleachers’ Brew IN the space of three weeks, Italy, already hit hard by the Covid-19 virus, was rocked.

The first by the passing of Argentinean footballer Diego Maradona who famously led Naples to glory on the pitch, and second by the death of icon Paolo Rossi this past December 9, who himself led the country to the 1982 Fifa World Cup. While the world mourned for Maradona, the wake was mostly centered in Naples. Rossi, is considered a national hero.

Rossi’s career had several stop-starts.

He debuted with Juventus in 1973 but failed not only to impress but to score. He was sent on loan to Como where the result was the same.

That led to his being loaned to Lanerossi Vicenza in the Serie B. It was there he was moved to the center-forward position and away from the right way where Juventus and Como deployed him. The shift was divine and Rossi scored 21 goals in the 1976 season to win the Serie B Golden Boot Award.

The next season, he led Vicenza to a Serie A promotion, and a call-up to the Azzurri for the 1978 Fifa World Cup. After football’s premier event, both Juventus and Vicenza quarreled for his services with the latter winning the bid at a stunning fee.

Unfortunately for Rossi, the 1978-79 season was marred by injuries although he did score 15 goals.

Worse, Vicenza was relegated once more but Rossi was loaned to Perugia so the former could make up the fees paid to the striker.

Bad luck hounded he was Rossi was implicated in the Totonero match-fixing scandal that included 13 clubs across Serie A and B. Rossi was banned for three years and throughout that time, he maintained his innocence.

His suspension was commuted to two years

and that allowed him to suit up for three matches for Juventus (who bought him back) prior to the World Cup, and Italy in 1982.

The rest, as it is said, is history as Rossi scored six goals in leading Italy to the title while winning the Golden Boot and the Golden Ball Awards.

He capped his magnificent return to football by winning the Ballon d’Or Award as the world’s best footballer. He shone at the expense of Maradona who was hyped ahead of the event.

The thing about that World Cup, Paolo wasn’t fit and it showed in those three matches with Juve and in the early games of Italy in the World Cup. But once a goal scorer, always a goal scorer.

After the World Cup, he helped Juventus to five major trophies before rounding out his checkered career with Milan and Hellas Verona.

Paolo Rossi played 251 matches for six Italian clubs while scoring 134 goals.

The second stage of his career was as a realestate salesman and a pundit for Serie A matches.

As a second year high-school student who played football, I only became aware of Rossi during the World Cup. And I kept for decades that issue of Time Magazine that featured him on the cover after the World Cup triumph (I lost it to Typhoon Ondoy).

If imitation is the sincerest form of flattery, what young footballing kid did not want to be Paolo Rossi?

We all “played” him during football matches.

To Italians, he is an icon. To the world at large, a football great. To us, he is a person who showed remarkable ability to bounce back after misfortune. He may not have been physically gifted or as skilled as Maradona (who I adore and idolize too). He was this skinny 5’8” man who used his guile and desire to bring his teams to heights reserved for champions and legends.

Grazie, Paolo. Per l’inspirazione.