BusinessMirror December 16, 2022

By Jovee Marie N. dela Cruz, @joveemarie Jasper Emmanuel Y. Arcalas, @jearcalas & Samuel P. Medenilla @sam_medenilla

AT the behest of Finance

Secretary Benjamin E. Diokno, President Ferdinand R. Marcos Jr. has certified as urgent a bill creating the country’s Maharlika Investment Fund (MIF).

Diokno wrote Marcos on December 13 requesting the certification as urgent of House Bill (HB)

6608, which seeks to establish the MIF, the country’s first sovereign wealth fund that has been mired in controversy since it was first floated.

The current administration's economic managers, which include Diokno, had earlier publicly endorsed passage of HB 6608 on the grounds that the measure would provide the country with muchneeded funds.

They later pointed out that most of the grounds objectors had cited—initially, the tapping of the two main pension funds, for both private and government

sector workers—have already been addressed in various amendments introduced by proponents.

“This is to respectfully request His Excellency to certify as urgent House Bill No. 6608, establishing the Maharlika Investment Fund, filed as Committee Report No. 237 by the Committees on Banks and Financial Intermediaries, Appropriations, and Ways and Means,” Diokno said in his letter, which was also coursed through Executive Secretary Lucas P. Bersamin.

See “Diokno,” A2

Philippines. the prestigious award is in recognition of Sy’s initiatives in environmental sustainability, business continuity and disaster preparedness. he champions national resilience using sciencebased solutions and through public private partnerships.

By Cai U. Ordinario @caiordinario

THE Monetary Board’s decision to raise the country’s benchmark rates by 50 basis points (bps) on Thursday would likely have an impact on the country’s growth rate in the next two years.

The Monetary Board decided to raise the BSP’s overnight reverse repurchase facility by 50 basis points to 5.5 percent, effective 16 December 2022. Accordingly, the interest rates on the overnight deposit and lending facilities will be set to 5 percent and 6 percent, respectively.

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said the impact of the recent interest rate hike would be 19 bps in 2024 or a reduction of a percentage point from GDP growth. In 2023, the impact would be less at 7 bps or less than a percentage-point reduction due to the lag time in the impact of the rate hike on growth.

Ang aming tingin, mas importante sa mga tao mapababa yung inflation. Mas masasaktan ang mga tao ng mataas na inflation kesa masasaktan sila sa pagbagsak ng GDP growth rate natin [In our view, it’s more important for Filipinos

WITH the backing of the European Union (EU), President Ferdinand Marcos, Jr. said he expects the resolution of the existing territorial disputes in the South China Sea (SCS).

In a press conference in Belgium on Wednesday, Marcos said the ASEAN and EU already have a joint declaration on the “doctrine

of behaviors” in the SCS.

He noted the said declaration will help in the enforcement of the United Nations Convention on the Law of the Sea (UNCLOS) in the area.

“The doctrine of behaviors in the South China Sea is already a very, very big step for us in the Philippines for example and for all the countries around the South

China Sea, that we now have the support, a strategic support from not only the member countries of EU but of EU itself,” Marcos said.

The Philippines and other ASEAN countries currently have existing territorial disputes with China over some parts of the WPS.

Remittances from 4 areas boost 10-mo total by $2.1B

By Jasper Emmanuel Y. Arcalas @jearcalas

CASH remittances sent by Filipinos abroad through October rose by an annualized rate of 3.1 percent to $26.74 billion, latest Bangko Sentral ng Pilipinas (BSP) data showed.

The Central Bank said the total amount of cash remittances during the 10-month period was $2.103 billion higher than the $24.633 billion recorded amount a year ago.

“The growth in cash remittances from the United States [US], Saudi Arabia, Singapore, and Qatar contributed largely to the increase in remittances in January-October 2022,” it said in a statement on Thursday.

The BSP said the US posted the highest share of overall re -

mittances during the reference period, followed by Singapore and Saudi Arabia.

Despite the Philippine peso further weakening against the US dollar in October, Executive Director Jeremaiah Opiniano of the Institute for Migration and Development Issues told the BusinessMirror that the growth rate of the monthly cumulative remittances was stagnant at 3.1 percent.

Total cash remittances during the January to September period was also at 3.1 percent on an annual basis.

Opiniano explained that this could indicate that Overseas Filipinos’ (OFs) remittances were affected by the acceleration of the prices of goods in their respective host countries.

Sy (center) accepts his tOFIl

plaque and trophy from anSa Foundation President anthony

Philip a nocom (left) and jcI Senate Philippines (jc SP)-tOFIl Foundation President rogelio V. garcia. Sy was awarded the tOFIl (the Outstanding Filipino) laureate for business and resilience from the jcI Senate

CONTRIBUTED PHOTO

Remittances...

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“It may mean that the inflation rates in migrants’ host countries may have affected their daily spending and their remittance allotments. This is not to mention that their families here at home also feel the brunt of rising prices of commodities,” he said.

The Philippine peso fell to its lowest level in October at an average exchange rate against the US dollar of P58.825. In September, the average Philippine peso-US dollar exchange rate was at P57.4338, based on historical BSP data.

The BSP data also showed personal remittances from OFs reached $3.23 billion in October, higher by 3.5 percent than the $3.12 billion posted in the same month last year.

This resulted in the cumulative personal remittances rising by 3.1 percent to $29.72 billion during the January-to-October period from $28.82 billion registered in the comparable period in 2021.

“The increase in personal remittances in October 2022 was due to higher remittances sent by 1) land-based workers with work contracts of one year or more, and 2) sea- and land-based workers with work contracts of less than one year,” the BSP said.

House approves Maharlika fund bill on second and third reading

By Jovee Marie N. dela Cruz @joveemarie

THE House of r e presentatives on Thursday endorsed for Senate approval the proposed Maharlika Investment Fund (MIF) Act, which was coauthored by 280 of the 312 members of the lower chamber.

Members of the House approved on second reading and third reading House Bill 6608 following the urgent certification by President Ferdinand Marcos Jr. Story on A1, “On Diokno’s bid, PBBM certifies MIF urgent.”

Lawmakers voted 276 affirmative and 6 against the passage of the bill.

With the bill certified as urgent, the House can dispense with the three-day rule—the requirement of the Constitution that no bill shall become a law unless it has passed three readings on separate days.

The bill will now be transmitted to

Diokno...

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the Senate for its own deliberations.

Speaker Martin G. r omualdez, the principal author of the bill, said the amendments introduced to the measure, especially the inclusion of more safeguards against possible abuse and fraud, “is our way of addressing the concerns of our people.”

“The proposed sovereign wealth fund will help President Ferdinand Marcos Jr. keep the country on the high-growth path. We want to assure the public that the management of the fund will follow best practices and the principles of transparency and accountability,” he said.

He said the bill, as finalized, would insulate the MIF from political influence.

As revised, the proposed law lists the Land Bank of the Philippines, Development Bank of the Philippines (DBP), Philippine Gaming and Amusement Corp. (Pagcor), and Bangko Sentral ng Pilipinas (BSP) as MIF contributors: P50

Sentro ng Nagkakaisa at Progresibong Manggagawa (SENT r O) Secretary General Josua Mata questioned the decision of lawmakers to prioritize the MIF over other pressing national issues.

“There are so many things that need the immediate attention of our government—from providing public employment, increasing wages of workers in the private and public sectors, lowering the

billion for Land Bank, P25 billion for DBP and 100 percent of dividends from the BSP will be given to the national government.

Pagcor’s share will be 10 percent of gross gaming revenues.

The House has removed the Social Security System and Government Service Insurance System, pension funds for the private sector and government workers, from the list of contributors on concerns raised by their members.

The bill creates the Maharlika Investment Fund Corp., with a board of directors to manage the fund. The board will be chaired by the secretary of finance, with the corporation’s chief executive officer, Land Bank president, DBP president, seven mem -

cost of food, transportation, electricity and other commodities and services, ensuring that our seafarers are not blacklisted, ending the continuing killings and labor and human rights violations, etc.—and yet this (MIF) is what Mr. Marcos, Jr. wants to prioritize,” Mata said in a statement.

Federation of Free Workers (FFW) Sonny Matula expressed concern over possible lapses in the safeguard measures of the HB 6608 as lawmakers fasttrack its passage.

r u shing the MIF can lead to disaster or costly mistakes.

FFW and Nagkaisa [labor coalition] urge Congress to always be careful with their work. As their haste may result in waste of people’s money,” Matula said.

He noted how other sovereign wealth funds similar to the MIF such as the 1Malaysia Development Berhad (1MDB) in Malaysia became the source of corruption and led to the misuse of government funds.

“1MDB is like that of MIF. Without enough 'check and balance’ measures, workers already know where we are heading to,” Matula said.

Marcos said on Sunday he was the one who proposed to lawmakers to create the MIF.

Following its announcement, the bill creating the MIF immediately drew criticisms from different sectors, including labor groups, since it required the Social Security System (SSS) and the Government Service Insurance System (GSIS) to contribute to the fund.

Congress later excluded SSS and GSIS list of fund sources for the MIF.

With the amendment of the bill creating the MIF, it drew support from most members of the House of r e presentatives and is now co-authored by over 200 lawmakers.

Diokno’s pitch

I N h is letter, Diokno emphasized that the creation of the country’s sovereign wealth fund bodes well for the Marcos administration's economic and fiscal goals.

“The creation of the MIF manifests the Administration's recognition of: (i) the role of various investments in financial assets in promoting economic growth, accelerating job creation, and improving the overall welfare of Filipinos; and (ii) the need to preserve and optimize the use of government financial assets, as well the intergenerational management thereof for macroeconomic stability,” he said.

Diokno assured Marcos that the current version of the pro -

bers to be nominated by MIF contributors commensurate to their contributions, and four independent directors.

The bill said in lieu of taxes and dividend remittance to the national government at least 25 percent of the net profits of the mic shall be directly distributed in the form of poverty and subsistence subsidies to families falling below the poverty threshold as determined by the Philippine Statistics Authority (PSA), beginning with the 18.1 percent of the population, or 19.99 million Filipinos living below the poverty threshold of about P12,030 per month for a family of 5, per the 2021 family income and expenditure survey of the PSA.

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posed MIF has the necessary safeguard mechanisms to ensure prudent use and investment of the funds.

“The bill provides for a set of investment policies, guidelines, and risk management limits and procedures. Such safeguards are approved by the Board of DIrectors of the [Maharlika Investment Corp.], taking into consideration the recommendations of the advisory body,” he said.

“To ensure transparency, accountability, and protection to the Fund, the bill further provides for the engagement of three auditors, namely: an Internal Auditor, External Auditor, which is required to be an internationally recognized auditing firm, and the Commision on Audit,” he added.

Diokno explained to Marcos that a sovereign wealth fund is a “tried” and “tested” investment vehicle that has been used by governments in both developed and developing countries “to achieve economic objectives.”

Multilaterals in support E A r L IE r t his week, Budget Secretary Amenah F. Pangandaman disclosed that Multilateral lending institutions and a United States-based think tank have thrown their support behind the establishment of the country’s own SWF. (Related story: https:// businessmirror.com.ph/2022/12/14/ pangandaman-imf-backed-creationof-swf/)

Pangandaman said during the previous administration, the International Monetary Fund (IMF) and the Asian Development Bank (ADB) backed the idea of creating a Philippine SWF.

Pangandaman said she supports the creation of the country’s wealth fund since it would generate additional budget for the government amid “limited” fiscal space.

The budget chief said the national government has tapped the Milken Institute of Singapore to determine the feasibility of creating a Philippine SWF, particularly the specific type of such fund suitable for the country.

Based on the findings of the forthcoming report of the think tank, Pangandaman said the right time to create the country’s SWF is “now.”

r e cently, the supermajority or 216 members of the House of r e presentatives have coauthored the proposed MIF Act which, they said, would help fast-track economic development and provide better public services for Filipino people.

(Related story: https://businessmirror. com.ph/2022/12/14/216-house-members-coauthor-maharlika/)

to bring down inflation. High inflation will hurt people more than low GDP growth],” Medalla said in a briefing.

Medalla said it is possible that inflation will peak in December 2022 rather t han the November 2022 they earlier predicted. Inflation in November rose to 8 percent with core inflation increasing to 6.5 percent.

But, he said, the reasons for higher inflation in November was largely due to the typhoons which affected the supply of vegetables, fish, and seafood prices, among others.

The BSP Governor, however, stated that it remains impossible to be sure of the increase in prices or if there will be any more spikes in the near-term. He said, however, this indicates that raising policy rates is still not off the table b ut as to the rate, it was difficult to say by how much.

“You can say the worst is over. But clearly, you have to be very vigilant,” Medalla said. “What’s most important for us is as much as possible [that] the inflation rate will be below 4 percent by the third quarter next year,” he added, speaking partly in Filipino.

The BSP’s latest baseline forecasts show that average inflation is still projected to breach the upper end of the 2-4 p ercent target range for 2022 and 2023 at 5.8 percent and 4.5 percent, respectively.

However, the forecast for 2024 fell to 2.8 percent, owing mainly to the further easing in oil prices, peso appreciation, and the slightly lower domestic growth outlook resulting in part from the BSP’s cumulative policy rate adjustments.

The Monetary Board arrived at its decision after noting the further uptick in headline and the sharp rise in core inflation in November amid pent-up demand. Moreover, upside risks continue t o dominate the inflation outlook up to 2023 while remaining broadly balanced in 2024.

The expected upside risks to inflation over the policy horizon stem mainly f rom elevated international food prices due to high fertilizer prices and supply chain constraints.

On the domestic front, trade restrictions, increased prices of fruits and v egetables due to weather disturbances, higher sugar prices, pending petitions for transport fare hikes, as well as potential wage adjustments in 2023 could p ush inflation upwards.

Meanwhile, the impact of a weakerthan-expected global economic recovery continues to be the primary downside risk to the outlook.

Amid broad-based inflation pressures, persistent upside risks to inflation, and elevated inflation expectations, t he Monetary Board deems it necessary to take aggressive monetary action to bring headline inflation back to within target as soon as possible.

At the same time, an adjustment in the policy interest rate will continue to provide a cushion against external spillovers amid tighter global financial conditions.

The BSP remains steadfast in its commitment to its primary mandate of sustaining price and financial stability and s tands ready to take all necessary action to bring inflation to within the 2-4 percent government target band over the medium term.

In 2016, the Hague Tribunal issued a ruling invalidating the “excessive” ninedash line claims of China in the SCS, which falls within the country's exclusive economic zone (EEZ) under the UNCLOS.

However, China refused to recognize the ruling and insisted on having bilateral talks with the country to resolve the dispute.

“Now because EU and ASEAN, together comprise the largest, most well-organized regional aggrupation, then that will be a very, very strong—that will be a very, very strong position to be able to negotiate, even individually for the Philippines or jointly with ASEAN or even with the EU as perhaps as a third party for us to take action and to negotiate further these difficulties that we are all having to face with the problems in terms of territoriality in the South China Sea,” Marcos said.

Samuel P. Medenilla

Labor slams move L A BOr groups on Thursday slammed the ongoing attempts in Congress to rush the passage of HB 6608 creating the MIF for being “ill-timed, poorly-conceived.”

By Glen Jacob Jose

ATOTAL of P1.961 billion will be awarded to 352 local government units (LGUs) for their development projects after being conferred with the 2022 Seal of Good Local Governance (SGLG).

Eighteen provinces, 60 cities, and 274 municipalities received the good governance award in the recent two awarding rites in Manila on December 13 and 14.

A side from getting physical markers, the winning LGUs will gain access to the SGLG Incentive Fund.

T he Department of the Interior and Local Government (DILG) stated that each winning province will receive P9.5 million, while the winning cities and towns will get P7 million and P5 million, respectively.

Enacted in 2019 and implemented on full-scale for the first time this year, the SGLG law restricts the use of the funds for local projects supporting “national goals and strategic thrusts.”

DILG Secretary Benjamin “Benhur” Abalos Jr. lauded the LGUs that passed the SGLG criteria despite the challenges posed by the Covid-19 pandemic.

T he awardees account for one fifth of the country’s 1,715 LGUs with the highest number coming from Central Luzon.

“It’s not about the trophies. It’s not about the award. It’s raising the bar of performance. It’s about attitude, changing the culture…It does

BusinessMirror The Nation

not mean that you will stop you after winning…it means public service will continue, there will be no stop in innovations,’’ Abalos said.

A balos added the diversity of awardees from first-class to lowerclass LGUs show the award does not depend on how much resources are available to local officials.

Executive Secretary Lucas Bersamin, who was guest of honor during the December 14 rites, urged the LGU awardees to take on the challenge of improving the lives of their constituents with the decentralization of funds to LGUs following the Mandanas ruling.

Just act and do things the right way. Implement your plans and programs with no guide but the wellbeing of your people,” Bersamin said.

A mong the awardees are 25 LGUs that have consistently passed the SGLG for six years, from 2015— when it was known as the Seal of Good Housekeeping to 2022:

Provinces: Ilocos Sur; Pangasinan; Isabela; Quirino; Bulacan; Aklan Cities: Caloocan City; Mandaluyong City; Balanga City; Mabalacat City; City of Bacoor; City of San Pedro; San Carlos City.

Municipalities: Caoayan, Ilocos Sur; Alcala, Pangasinan Sanchez Mira, Cagayan San Mateo, Isabela Saguday, Quirino Plaridel, Bulacan Floridablanca, Pampanga Victoria, Tarlac Carmona, Cavite Barugo, Leyte Kapatagan, Lanao del Norte San Juan, Abra.

House OKs national citizens training program bill on 2nd and 3rd reading

Defense (DND).

By Jovee Marie N. Dela Cruz  @joveemarie

T his, after President Ferdinand R. Marcos Jr. certified as urgent the House Bill 6687 or an act instituting a national citizens service training program in all public and private tertiary education institutions, repealing for the purpose RA 9163 or the National Service Training Program Act.

T he bill seeks to promote, propagate and protect the youth’s physical, moral, spiritual, intellectual, and social well-being and inculcate in them patriotism, nationalism and respect for human rights and to encourage their involvement in public and civic affairs.

T he measure also seeks to train, equip and organize the youth, within the current frameworks of national and territorial defense, law-enforcement and

peace and order and national disaster risk reduction and management; prepare them for rapid mobilization at the soonest possible time to address national and/or local contingencies, which may require personnel beyond the capabilities of existing national government agencies or local government units.

T he bill establishes a two-year mandatory National Citizens Service Training (NCST) program, implemented by the Commission on Higher Education (CHED) in all higher education institutions (HEIs) and by the Technical Education and Skills Development Authority (Tesda) in all post-secondary technical-vocational institutions (TVIS), both in consultation with the Department of National

It mandates that the two-year NCST shall be mandatory for all students enrolled in undergraduate degree programs in all public and private HEIs, and at least two-year Technical-Vocational Education Training (TVET) courses in all TVIS in the Philippines.

T he bill mandates that the NCST shall be administered to cover undergraduate and postsecondary TVET students for at least four semesters or 240 hours over two school years, unless otherwise allowed by the CHED or Tesda in accordance with the rules recommended by the NCST Technical Panel.

T he measure creates an NCST Program Technical Panel composed of representatives from CHED, Tesda, DND, Armed Forces of the Philippines (AFP), National Disaster Risk Reduction and Management Council (NDRRMC) through the Office of Civil Defense (OCD), the Department of the Interior and Local Government, the Philippine National Police, the Department of Social Welfare and Development, the National Youth Commission, the Philippine National Volunteer Service Coordinating Agency, the Philippine Red Cross, student representative and two private sector representatives who shall be recognized experts or practitioners in the field

of citizen service training, disaster preparedness, reservist training or related fields.

T he bill directs the NCST Program Technical Panel to formulate, periodically review and update the NCST Program design, curriculum, modes and method of delivery.

It mandates the CHED or Tesda, based on rules recommended by the NCST Technical Panel, to prescribe Special NCST programs to address the special needs and circumstances of students: a) classified and officially registered as persons with disabilities; those whose religious beliefs prohibit.

T he measure mandates that citizen-cadets, upon completion of the NCST, shall be deemed NCST graduates and shall be incorporated in the National Service Reserve Corps (NSRC) and the AFP Citizen Armed Force (AFP Reserve Force).

It establishes a Reserve Officers’ Training Corps (ROTC) Program, an optional four-year military training program designed to provide military training to students enrolled in undergraduate degree programs in HEIs who have expressed interest or shown potential to be officers of the AFP Regular and Reserve Force (Citizen Armed Force).

IN a bid to institutionalize the vital role of the youth in nation building, the House of Representatives on Thursday approved the National Citizens Training Program (NCTP) on second and third reading.

352 LGUs to receive nearly ₧2-B ‘incentives’ for good governance

• Editor: Vittorio V. Vitug

DTI pitches for locally made food products for ‘Noche Buena’ feast

By Andrea E. San Juan

Caravans which will be sustained until 2023,” Pascual stressed.

A side from the KnP trade fairs, Pascual called on Filipinos to patronize the Diskwento Caravan. He said this is still being conducted nationwide to bring “quality BNPCs [basic necessities and prime commodities] to consumers at a lower cost.”

cally, he said, the consumer may assess his or her purchasing power, especially amid the Christmas season to avoid overspending.

He said it’s also important to make a list “of all your holiday commitments, including gifts, decorations, and travel.”

PHL seen to reap benefit from Canada’s 5 ‘interconnected pillars’ in Indo-Pacific

OFFICIALS of the Embassy of Canada in the Philippines revealed Ottawa is pouring C$2.3 billion investments (around P93.6 billion) into the Indo-Pacific Region, which includes the Philippines, to advance its five “interconnected pillars.”

Canada will launch a Canadian Trade Gateway in Southeast Asia to expand Canada’s business and investment engagement, and networks in the region,” the Indo-Pacific Strategy document read.

A mong the five tips that the trade chief provided to Filipinos was to get good deals amid rising prices for the “Noche Buena” feast was to stick and patronize trade fairs offering local products.

Visit and participate in the Kadiwa ng Pasko [KnP] Trade Fairs, which aim to provide cheap and affordable agricultural products such as rice, sugar, vegetables, fruits, fresh meat products [pork, beef and chicken], fish and other seafood products, coffee, processed milk, instant noodles, condiments, local bags and footwear,” Pascual said.

T he trade chief stressed that by shopping at Kadiwa ng Pasko Centers, “you are also supporting our local farmers, fishermen, manufacturers, and micro, small, and medium enterprises [MSMEs].”

M oreover, Pascual bared the schedule of the Kadiwa ng Pasko (KnP) trade fairs where, he said, producers and manufacturers will be selling “essential foods” at low prices in the National Capital Region (NCR) as well as across different regions.

Pascual said this project was adopted from the original Kadiwa program in the 1980s, which he said was a farm-to-market supply chain and food distribution program that benefited low-income families.

“ These rolling stones will help many consumers buy basic necessities like food products at lower prices, so keep an eye on the DTI [Department of Trade and Industry] Consumer Care Facebook page for the updated schedules of Kadiwa ng Pasko Trade Fairs and Rolling Stores

House approves Maharlika

The number of independent directors on the board was increased from two to four to widen private sector representation. These directors should have no conflict of interest in relation to the fund.

O perational expenses of the corporation shall not exceed 2 percent of the funds managed.

T he MIF Corp. would have an advisory body with members: the secretary of the Department of Budget and Management, director general of the National Economic and Development Authority, and the National Treasurer.

T he body’s tasks include advising and assisting the board of directors in formulating general policies on investment and risk management.

T he corporation would have an internal and an external auditor, aside from being subjected to examination by the Commission on Audit.

T he bill lists “allowable investments,” like foreign currencies, metals, fixed-income instruments, domestic

fund

T he Diskwento Caravan is an initiative by the DTI, in partnership with manufacturers and retailers of BNPCs.  Through this initiative, Pascual said producers and manufacturers can sell agricultural and manufactured BNPCs directly to consumers at a lower price.

According to Pascual, this initiative lowers prices by 10 percent up to 15 percent from the Suggested Retail Price (SRP).

Meanwhile, Pascual also shared other tips, which can help Filipinos decide on purchasing products during the Noche Buena season. He said, “It is important to keep track of your budget, spending habits, and know where to look for the best deals.”

T he trade chief recommended to “planning what you will purchase ahead of time.” Under this tip, Pascual suggested preparing a budget before shopping. Specifi -

A nother tip Pascual provided is to “take advantage of the holiday season’s sales, promos, and discounts.” The trade chief said consumers might take into consideration selecting groceries and supermarkets that usually offer promos, discounts and sales during the holiday season.

He added, “Taking advantage of this will help you save up and even acquire cashback offers.”

T he trade chief also recommended to consumers to use the DTI’s SRP bulletin and Noche Buena price guide published on the DTI web site “to help you find the best value for money.”

P ascual noted that there are brands in the said price bulletin and price guide that are “cheaper and more affordable to meet your budget and needs.”

On November 23, the DTI released a price guide for Noche Buena products. (Related story: https://businessmirror.com.ph/2022/11/23/ dti-releases-price-guide-fornoche-buena-products/)

bill on second and third reading

and foreign corporate bonds, equities, real estate, infrastructure projects, loans and guarantees, and joint ventures or co-investments.

T he proposed law mandates the National Treasurer, in consultation with the founding government financial institutions, to issue implementing rules and regulations.

T he bill also provides the right to freedom of information of the public.

It said all documents of the MIF and the MIC, shall be open, available, accessible to the public, including but not limited to: all investments thereof, whether planned or under negotiation by the mic and on the portfolio of the MIF; the statements of assets and liabilities (SALNs) of the members and officials of the board of directors, risk management unit, and advisory board; the SALNs of those who appointed and designated the said members and officials; audit documents from the internal auditor, external auditor, and the COA;

and similar documents and information.

House Ways and Means panel chairman Joey Sarte Salceda said the fund utilizes the investible funds of government financial instruments with excess funds—because as government depositories, they have access to billions of low to non-interest bearing monies that they caninvesttowardsnationaldevelopment.

The MIF begins with an initial capitalization using just 1.6 percent of LBP assets, and around 2.5% of DBP assets. In other words, there are very little to no financial systemic risks involved.

At the same time, however, it allows GFIs to be more directly involved in infrastructure and investments that will contribute to lowering power and other costs—through dams, grid interconnectivity, and minority positions in energy and other key sectors,” he added.

I also cannot stress enough that the mere entry of the government into a position that allows it greater oversight over traditionally oligopolistic

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sectors will encourage these firms to behave better, especially with regards to pricing. In other words, with regard to criticisms that inflation should be the exclusive priority of the government, this Fund helps address structural price issues in key sectors of the economy,” Salceda said.

At the same time, Salceda said the fund is not allowed to have a controlling stake or direct management involvement in investee firms—“a safeguard to address fears of corporate takeover by the government.

Sa lceda said the bill went through at least seven rounds of revisions.

“The Committee on Banks and Financial Intermediaries also held at least four meetings and briefings with stakeholders. The Committees on Ways and Means and Appropriations also held their own hearings of the proposal,” he added.

Sa lceda said the House leadership conducted at least three meetings with the GFIs.

D uring a meeting with reporters on Thursday in Makati City, the embassy officials bared that C$2.3 billion will be poured into the region for the “initial cycle” of Canada’s 10-year Indo-Pacific strategy. This amount, the embassy official noted, will only be allotted for the first five years, beginning in 2023.

The Indo-Pacific Region will play a critical role in shaping Canada’s future over the next half-century. Encompassing 40 economies, over 4 billion people and $47.19 trillion in economic activity, it is the world’s fastestgrowing region and home to six of Canada’s top 13 trading partners,” Canada’s Indo-Pacific Strategy document read.

T he document highlighted that the Indo-Pacific Region includes six of Canada’s top 13 trading partners, which are India, Japan, People’s Republic of China (PRC), Republic of Korea, Taiwan and Vietnam.

U nder the pillar of promoting peace, resilience and security, the embassy officials said Canada intends to promote stability in the Indo-Pacific Region. The document, which contains the IndoPacific strategy of Canada bared that Canada is allotting C$720 million for the implementation of the new strategy.

“ The region is home to numerous security hot spots with potential global repercussions, and Canada must engage as a regional security partner to protect our national interests and security,” the Indo-Pacific Strategy document read.

S ome of Canada’s plans under this pillar are to: increase military engagement, deploy additional military assets, and expand military capacity building, among others.

Meanwhile, under the trade, investment and supply chain resilience pillar, the embassy officials unveiled that Canada is pouring C$244 million for this pillar. C$24.1 million of the allotted budget for this pillar will be allocated for the Canadian Trade Gateway in Southeast Asia.

To expand Canada’s trade network at home and abroad,

T he said strategy also includes a pillar which intends to “invest in and connect people” in the region.

T he document stressed “almost 20 percent of new Canadians come from the region, close to 18 percent of Canadians have family ties to the region and 60 percent of the international students coming to Canada hail from the Indo-Pacific.”

I n fact, one of the slides during the meeting revealed that the Philippines ranks second as a source of international students in Canada.

C anada will invest C$261.7 million into the region for this specific pillar.

T he embassy officials said Canada also aims to “build a sustainable and green future.” They presented that Canada is allocating C$903 million for this pillar.

U nder this pillar, Canada’s plans include supporting “oceans management initiatives and expanding measures against illegal, unreported and unregulated fishing in the Indo-Pacific, including through our Dark Vessel Detection Program.”

A s Canada engages with its partners in the Indo-Pacific region, the strategy document noted that its priorities include “increasing our diplomatic engagement, forcing connections between like-minded countries and collaborating in common causes.” Under this pillar, the embassy officials presented that Canada will be allotting C$137 million.

A mong the concrete steps that the country will take to intensify its strategy in the region is to transition to an Asean strategic partner. In addition, the embassy officials stressed that Canada will appoint a “special envoy” for the Indo-Pacific region to coordinate a “whole-ofgovernment” approach.

According to the embassy officials, Canadian investments into the Philippines have already reached C$2.6 billion or P106 billion. Meanwhile, trade in goods and services amount to C$3.5 billion or P142.5 billion between the two countries, as per the data presented by the embassy officials.

Andrea E. San Juan

TRADE Secretary Alfredo E. Pascual is urging consumers to buy local products as he shared some money saving tips for Filipino consumers this Christmas season.

PBBM tackles issues on defense, cyber security with European leaders

By Samuel P. Medenilla @sam_medenilla

He sought aid from both countries on how to boost the protection of national digital systems against online attacks.

E stonia Prime Minister Kaja Kallas invited the President to visit her country so she could share their “key strategies” in digitizing government processes and addressing cyber attacks.

For his part, Netherlands Prime Minister Mark Rutte discussed the application of artificial intelligence (AI) in the military in his talk with the President.

climate change.

T he President said the experience of The Netherlands on the matter could help the government in its policies related to water supply.

We are actually trying to decide whether or not to form a new agency just for water management. That seems to be right exactly within the area of concern of the Philippines,” Marcos said.

Rutte urged Marcos to participate in the conference they will hold for AI and climate adaptation, which he said are priority issues for The Netherlands and the Philippines.

technology transfer.

The transfer, the President said, can help ramp up the country’s “defense production abilities” and help in the ongoing modernization of the Armed Forces of the Philippines (AFP).

“ What would be even more interesting is besides just the equipment, would be the transfer of technology from your country to mine so that you are able to produce [in our own country] some of the material that is now being provided by other countries and perhaps use…make the Philippines a center for all that, the logistics,” Marcos said during his meeting with Fiala.

is among its “priority country” for its assistance programs, pledging various initiatives.

Pérez-Castejón said they are supporting the ongoing local efforts to ensure peace in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

“ The Spanish cooperation in Muslim Mindanao…especially this region, [the] Bangsamoro Autonomous Region, [is] where we try to provide institutional support and strengthen the dialogue,” the Spanish leader said.

T he said meetings happened on the sidelines of the Association of Southeast Asian NationsEuropean Union Commemorative Summit.

Cyber security

MARCOS met with leaders of Estonia and The Netherlands to discuss digital transformation and cyber security.

Water management

BOTH state leaders also talked about water management amid the ongoing extreme weather incidents, including harsh draughts, due to

DOLE’s ‘full cycle’ aid aims to give tourism jobs to Visayas informal sector workers

INFORMAL sector workers in the Visayas will soon benefit from the “full-cycle” assistance of the Department of Labor and Employment (DOLE) that may enable them to work in the tourism sector.

Labor and Employment Secretary Bienvenido E. Laguesma said they would be expanding the program, which provides skills training, equipment, clothes, as well as medical and dental service to help its beneficiaries be employed in tourism-related jobs outside of Luzon.

The Department is set to expand the project’s implementation with the addition of more Intramuros ‘padyak drivers’ as beneficiaries and its replication in other tourism areas,” Laguesma said in a news statement issued on Thursday.

“ The Tourism Secretary requested for the project to be replicated in Western and Central Visayas, which are also known tourism destinations,” he added.

L ast October, the program was

piloted in Intramuros, Manila, where it benefited 120 pedicab drivers, who were trained to act as tour guides in the Walled City.

T he program was then implemented in Baguio City, which is also a top tourist destination, and benefited the horseback riding stable and its guides at Wright Park.

L aguesma noted that implementing the initiative is challenging for DOLE since it involves close coordination with the concerned local government units. Samuel P. Medenilla

Defense production

MARCOS also talked about defense with Czech Republic Prime Minister Petr Fiala, particularly for a possible

Priority beneficiary

THE President also spoke to Spain President Pedro Sánchez PérezCastejón, who assured the country

During the Asean-EU Commemorative Summit on Wednesday, Marcos stressed the crucial role of the large market and technical expertise of European countries in the pandemic recovery of Southeast Asian nations, including the Philippines.

FAB urges caution in new fish import rules

I n AC 11, Senior Agriculture Undersecretary Domingo F. Panganiban said the government suspended the SPSICs of certain fish imports for institutional buyers and processors to “prevent” the diversion of said supplies to the wet markets.

T he AC 11 established a traceability system that allowed the government to monitor the movement of imported fish products by institutional buyers, processors and canners by requiring

additional documents.

T he spotlight was trained on the Bureau of Fisheries and Aquatic Resources (BFAR) in recent weeks following its intensified efforts to curb the diversion of frozen fish products for institutional buyers to wet markets.

U nder existing rules and regulations, frozen fish products imported by institutional buyers and processors cannot be sold in the wet markets. Also, institutional buyers, processors

and canners may import frozen fish products sans a certificate of necessity issued by pertinent authorities as long as they secure SPSICs for their inbound shipments.

B FAR’s recent campaign against the illegal diversion of imported fish products was cut short after some quarters and senators opposed it. They argued that the campaign would exacerbate the increase in local food prices, as it would create supply constraints.

Jasper Emmanuel Y. Arcalas

PRESIDENT Ferdinand R. Marcos Jr. tackled cyber security, water management, defense technology transfer and government aid during his bilateral talks with five European countries in his recently concluded visit this week in Brussels, Belgium.

92.

93.

94.

LUCKY365

99.

AHMARINEJAD, ELNAZ Business Consultant

Brief Job Description: Organize and execute assigned business projects on behalf of Iranian clients (recruiting, payroll, promotional campaigns, etc.) according to client requirements

Basic Qualification: Fluent in Farsi, Tagalog, and English Salary Range: Php 30,000 - Php 59,999

MCP BUSINESS CONSULTANCY INC. 207b 2nd Floor, 409 A. Soriano Ave., Barangay 656, Intramuros, City Of Manila

CHEN, KUN Assistant Supervisor

Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for, Fluent in Chinese Mandarin is an advantage.

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

Basic Qualification: Proficient in speaking, reading and writing in English and their respective Native Language for the position applied for; Fluent in Chinese Mandarin is an advantage

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

Basic Qualification: Proficient in speaking, reading, and writing in English and their respective native language for the position applied for; Fluent in Chinese Mandarin is an advantage

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

Basic Qualification: Proficient in speaking, reading and writing in English and their respective native language for the position applied for, Fluent in Chinese Mandarin is an advantage.

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

Basic Qualification: Proficient in speaking, reading, and writing in English and their respective native language for the position applied for; Fluent in Chinese Mandarin is an advantage

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

Basic

100.

101.

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information

UKAHA, EMMANUEL KALU Management Consultant

Brief Job Description: To guide clients through all procedures required and responsible for furnishing clients with relevant information

Basic Qualification: Bachelor’s Degree in Business Management, Excellent Communication skill verbal or written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Bachelor’s Degree in Business Management, Excellent Communication skill verbal or written Salary Range: Php 30,000 - Php 59,999

NCH CUSTOMER SUPPORT SERVICES, INC. Flr. No. 6/f, 7/f, Tower 3 West Bldg., Double Dragon Plaza, Edsa Ext. Cor. Macapagal Ave. St., Barangay 76,

Brief Job Description: Provide specialized services to assist end-users in technology needs.

JI, JIANPING Mandarin Technical Support

Basic

Basic

Basic Qualification: Ability to multi tasks and manage time effectively.

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

118.

Brief Job Description: Provide specialized services to assist end-users in technology needs

KUANG, YU Mandarin Technical Support

Basic Qualification: Fluent in Mandarin, both oral and written Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Ability to multi tasks and manage time effectively.

119.

120.

Brief Job Description: Provide specialized services to assist end-users in technology needs.

PENG, YEJINGZI Mandarin Technical Support

Brief Job Description: Provide specialized services to assist end-users in technology needs.

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

Basic Qualification: Ability to multi tasks and manage time effectively.

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

PROCTER & GAMBLE PHILIPPINES, INC. 10f Seven/neo, 5th Ave., Crescent Park West, Bonifacio Global City, Fort Bonifacio,

Basic

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

NORACHIN, KWANCHIT Thai Customer Service Representative

HOANG THI THANH BUOI

PHAM THI KIM MY NGUYEN Vietnamese Admin Support Specialist

Department of Energy

DOE celebrates 50th anniversary, presses

By Anne Ruth Dela Cruz

THE Department of Energy celebrates its 50th anniversary this month as it accelerated calls for the increased use of renewable energy in the country.

With the theme “DOE @ 50:

Spearheading a Sustainable Energy Future,” DOE’s anniversary coincides with the annual observance of National Energy Consciousness Month (NECM).

NECM calls for a sustainable energy future aligned with the United Nation’s Sustainable Development Goal (SDG) 7 which targets universal access to energy, increasing renewable energy’s share in the energy mix, and doubling the rate of energy efficiency improvement.

December was declared National Energy Consciousness Month by virtue of Proclamation No. 1427 singed on December 11, 2007 by then President Gloria Macapagal-Arroyo.

The NECM provides the venue

to create public awareness through information campaigns to bring the people towards judicious conservation and efficient utilization of energy as provided under the Proclamation.

Leading the way

The administration of President Ferdinand Marcos Jr. is leading the way in accelerating and expanding the development of the country’s domestic energy sources.

During his first State of the Nation Address, Marcos pushed for the transition to renewable energy to mitigate the impact of climate change in the county. He added that the use of renewable energy will top his administration’s climate change agenda.

We will increase our use of

Bulacansol bolsters skills of health frontliners in Bulacan

HIGHLIGHTING the importance of good health in attaining a productive and happier society, BulacanSol, in partnership with the Bureau of Fire Protection (BFP) - San Miguel and the local government unit’s (LGU) Municipal and Disaster Risk Reduction and Management Office (MDRRMO), recently provided training to the barangay health frontliners in San Miguel, Bulacan under its KlinikaBarangay program.

K linikaBarangay is BulacanSol’s flagship capacity-building, corporate social responsibility program for community health workers and frontliners.

The participants, comprised of barangay health workers and barangay tanods from BulacanSol’s host communities of Barangays Labne, San Juan, and Tibagan, were trained based on these three modules: Covid-19 and Monkeypox Prevention, Fire Safety, and Basic First Aid.

energy, BulacanSol empowers its host communities through its social responsibility programs, one of which is the KlinikaBarangay. Through this capacity building intervention, we hope to equip our barangay health frontliners with the necessary skills that they can use to better manage the current health crisis of the country and their community.”

Aside from the technical knowhows, the barangays were also given new equipment including blood pressure apparatus, security vests, and first aid kits that they may use to attend to the basic health medical needs of their respective stakeholders.

BulacanSol, a 55-megawatt solar power plant in San Miguel, Bulacan, which provides clean energy to the Luzon Grid, is a joint venture between MGreen, Meralco PowerGen’s wholly owned renewable energy unit, and PowerSource Energy Holdings Corporation.

Meralco PowerGen-Global Business Power (MGen-GBP) President and CEO Jaime T. Azurin said, “Beyond producing sustainable

The Burgos Wind Farm is the largest of its kind in Southeast Asia. (Photo by Bernard Testa/BM)

KlinikaBarangay participants were equipped with knowledge on first aid intervention.

Chief Operating Officer Richard O. Ochava

presses for increased use of renewable energy Energy 50th Anniversary

renewable energy sources such as hydropower, geothermal, solar and wind,” he said.

He emphasized the need to promote the use of renewable energy, as he noted that the Philippines is a disaster-prone country.

Foremost, the country is accelerating the development of renewable energy to increase its share in the power mix to 35 percent by 2030 and 50 percent by 2040 from the current 22 percent.

Energy related campaigns

As part of their 50th anniversary celebration, DOE spearheaded a series of energy-related campaigns across the country through energy literacy and awareness among Filipinos while highlighting the collective role of the government and the Filipino people.

Once such activity recently took place in Iloilo City where the DOE solicited the support and active engagement of the business sector in

line with its campaign on Energy Efficiency and Conservation (EEC).

In that forum, Energy Undersecretary Giovanni Carlo J. Bacordo recognized the contributions and the impact of the private sector on the energy demand of the country. He added that the DOE is currently focusing on the private sector, particularly in the commercial, industrial and transport sectors for its information campaign.

Biggest share of consumed energy

Based on the Asian Development Bank (ADB) study published in 2018, the biggest share of the final energy consumed in the Philippines in 2015 is from the transport sector at 36 percent, followed by the industry sector at 29 percent.

Bacordo revealed that this trend continues up to the present and ADB estimates the final energy consumption of the Philippines will be doubled come 2035.

“ This is one of the main reasons why many provisions of the EEC Act deal with the private sector which is referred to as the ‘designated establishments,’” Bacordo said.

He likewise emphasized in his opening speech that the forum aims to encourage the business sector to put EEC as an important component of their operations not only to save energy cost, but to contribute to the global efforts to reduce greenhouse gas emissions and eventually mitigate the disastrous effects of climate change.

Growing energy demand

According to an article titled “Renewable Energy in the Philippines – Current State and Future Roadmap” which was published on the Energy Tracker Asia website, the Philippines faces the challenges of a rapidly growing population and growing energy demand. However, the Philippines stands out because of its response. Compared to its

neighbors, the Philippines is considered a leader in renewable energy. Over 47 percent of tis total energy use comes from green sources.

The Philippines, alongside Indonesia, are the countries that have the highest concentration of geothermal power capacity at 1,918 megawatts. It was reported that the Philippines has a renewable energy capacity of 7.1 giga-watts. Some 4.3 GW come from hydropower, with 896 megawatts sourced from solar energy. In the coming years, solar energy demand is expected to shoot up dramatically. Solar energy demand is expected to rise to three giga watts.

Wind, on the other hand only makes 427 megawatts. Despite having an estimated potential of up to 76 giga-watts, the current administration targets just 2.3 gigawatts by 2030.

Five-step plan

In 2011, the country adopted an

ambitious plan aiming for 15.3 giga-watts of renewable power capacity by 2030 and over 20GW by 2040. To achieve this goal, the National Renewable Energy Program (NREP) laid out a five-step plan to reach all targets by 2027.

The five-step plan calls for: nRaising geothermal capacity by 75 percent.

nExpand hydropower capacity by 160 percent

nAdd an additional 277 MW of biomass power capacity

nExtend an additional 2,345 MW of wind power capacity; and nDevelop an ocean energy facility.

Th is goal towards renewable energy transition would guarantee energy security and self-sufficiency, accompanied by reduced reliance on imports. It would also boost local economic development and promote a favorable investment climate. This, in turn, would result in more jobs and reduce health and welfare costs.

However, Energy Secretary

Raphael Lotilla said the country’s power supply situation next year is likely to be difficult with some hydro plants expected to be unable to deliver electricity.

He said he was encouraging the increased use of renewable sources of energy, which could help ease the impact of high fuel prices.

The Philippines has sufficient power supply for the rest of the year, but Lotilla did not rule out “yellow alerts” which are issued by his department whenever reserves are thin and thus could potentially cause outages.

The Philippines remains dependent on fossil fuels for electricity generation, but Lotilla has sought to ramp up support for renewable.

“In 2023, the situation is a bit difficult especially in the summer months. The scenario shows several yellow alerts and possible red alerts in 2023,” he said. Red alerts are issued when supply is insufficient to meet demand. With reports from PIA

NOTICE

Republic of the Philippines DEPARTMENT OF LABOR AND EMPLOYMENT

Regional Office No. IV-A

4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362

December 16, 2022

OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT

PERMIT/S (AEP/S)

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

NO. ESTABLISHMENT

1 AMERICAN POWER CONVERSION CORPORATION (A.P.C.) B.V.

Lot 1, Block. 5, Phase 2, Cavite Economic Zone, Tejeros Convention, Rosario, Cavite

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION QUALIFICATION AND SALARY RANGE

FOMA MAFOUO, DORIS LANDRY

French Customer Service Representative

Brief Job Description:

Ensure a high level of customer satisfaction

2 ANOC99 CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

3

MA, DEHUA Chinese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

Basic Qualification: Bachelor’s degree preferably in business studies, administration and management

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

ANOC99 CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

4 ANOC99 CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

CHONG CHOON YIP Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

CHONG MIN HUN

Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

HO MEI YEE

Able to speak, read and write Chinese language

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

Basic Qualification:

Able to speak, read and write Chinese language

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

9 ANOC99

CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

10 ANOC99 CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

TAN HUI WEN

Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

TEOW KEAI SENG

Malaysian Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

TEY MUN LIANG

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

11 ANOC99 CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

12 ANOC99 CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

Malaysian Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

LE ANH TUAN

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

NGUYEN HOANG HIEU

13 ANOC99 CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

14 BRICKHARTZ TECHNOLOGY INC.

Lot 4044, Molino Blvd., Niog Iii, City of Bacoor, Cavite

5 ANOC99

CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

6 ANOC99

CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

Malaysian Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

LEE WEI LOK

Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

LIM WEE SAM

Basic Qualification:

Able to speak, read and write Chinese language

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

Basic Qualification:

Able to speak, read and write Chinese language

7 ANOC99

CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

8 ANOC99

CORPORATION

Pogo 1 Building, Covelandia Road, Pulvorista, Kawit, Cavite

Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

MOK YOU KANG

Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

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

Basic Qualification:

Able to speak, read and write Chinese language

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

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 – Php59,999

15 BROTHER INDUSTRIES (PHILIPPINES), INC.

Lot 1 B-2, FPIP-SEZ, Ulango, City of Tanauan, Batangas

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

VONG A SAM Vietnamese Customer Relations Officer

Brief Job Description: Handles the concerns of the people who buy their company’s products or services

WAKAKUSA, KEISUKE

Engineering Manager

Brief Job Description: Promote and monitor Department KPI’s,

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification: Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification: Has excellent problemsolving and communication skills in Vietnamese, with related BPO experience

Salary Range: Php30,000 - Php59,999

Basic

N2-N1

Salary Range: Php150,000 - Php499,999

Salary Range: Php60,000 - Php89,999

China’s Covid death toll could top 2 million, HK study shows

By Bruce Einhorn

MORE than 2 million people in China may die from Covid-19 as the government rapidly abandons pandemic curbs, according to a new study by researchers in Hong Kong.

In the absence of a mass vaccination booster campaign and other measures to reduce the impact of the virus, some 684 people per million would die in a nationwide reopening, according to the report, which was co-authored by Gabriel Leung, the former dean of medicine at the University of Hong Kong, and two of his colleagues.

The researchers looked at different scenarios following China’s recent moves, including the Dec. 7 announcement of 10 measures to roll back core Covid Zero principles such as mandatory testing and lockdowns.

“Our results suggest that local health systems across all provinces would be unable to cope with the surge of Covid-19 cases posed by reopening in December 2022–January 2023,” they wrote.

A former undersecretary for food and health, Leung is a well-known figure in Hong Kong. The city’s former leader Carrie Lam has said she tightened Covid restrictions in the city after receiving WhatsApp messages from him.

Members of Leung’s team were part of a group of Hong Kong public health experts who traveled to Beijing in early November to advise Chinese officials about lifting restrictions nationwide, the Financial Times reported Tuesday, citing Leung.

According to the new report, explosive growth of infection rates nationwide could also lead to new variant.

A reopening that sees a high R rate—the basic reproduction number for the virus—would “result in a large number of infections that could potentially accelerate mutation, selection and evolution of SARS-CoV-2 viruses,” the researchers wrote. SARS-CoV-2 is the coronavirus that causes Covid.

It’s no longer possible to determine China’s R rate after the government stopped releasing numbers of new asymptomatic cases. Anecdotal evidence suggests the disease is spreading rapidly, with an eruption of infections already ripping through companies and overwhelming hospitals.

The report was published Wednesday and is a preprint, meaning it hasn’t yet been certified by peer review. China has a population of 1.41 billion.

Covid surge spooks Beijing residents

COVID infections are surging in Beijing, disrupting official government work and keeping people at home after authorities made an about-turn in their strict policy of managing virus cases.

The National Bureau of Statistics said it will cancel a monthly press briefing scheduled for Thursday in Beijing, where it was due to release key economic indicators for November.

China’s abrupt exit from Covid Zero—during winter and with an under-vaccinated elderly population—has caught many off guard, raising concerns of major disruption to economic life in coming weeks and

months. High frequency data such as online searches for the word “fever” and subway ridership figures suggest the outbreak is severe in the capital Beijing.

The NBS said the press conference, where officials usually discuss the economic data and take questions from reporters, was canceled “according to work arrangement,” without elaborating. The data for industrial output, retail sales, unemployment and other indicators will instead be released on the bureau’s website at 10 a.m. local time Thursday, along with official comments, it said in a statement.

Economists expect the figures to show a worsening in the economy in November even before the current Covid surge. Growth is expected to slow to just 3.2 percent this year, which would be the weakest pace since the 1970s barring 2020’s pandemic slump.

The Central Economic Work Conference, where officials set economic goals for the coming year, will go ahead this week in Beijing, with leaders opting not to postpone the gathering as Covid infections surge across the capital, people familiar with the matter said. Bloomberg News had earlier reported the meeting would be postponed.

The conference, which is usually attended by President Xi Jinping, is expected to signal more fiscal and monetary policy support for the economy.

The Politburo, the Communist Party’s top decision-making body, made a decisive shift toward a pro-growth stance at its December meeting.

“There’s significant uncertainty over the public health toll and capacity to weather it without a temporary re-

imposition of some curbs on mobility. A big litmus test will be the government’s stance on travel during next month’s Lunar New Year holidays—a potential super-spreader event,” said Bloomberg economists Chang Shu, David Qu and Eric Zhu.

Financial markets have rallied on the expectation that China’s reopening will spur consumer and business spending, with the benchmark CSI 300 Index of mainland shares jumping nearly 13 percent from an October 31 low.

Several major banks, like Australia & New Zealand Banking Group Ltd., Nomura Holdings Inc. and Morgan Stanley, have also upgraded their forecasts for economic growth next year, predicting a boost in confidence.

Even so, the next few months are highly uncertain as workers become infected, business activity slows down, factories struggle to secure supplies and people stay away from restaurants and shops.

Delivery services have already hit a snag in Beijing as courier drivers fall ill. The State Post Bureau said while most of the delivery network had resumed operation, more than 400 outlets in the capital city and some other places remain closed. There’s “big pressure” on delivery in the last leg of the journey, it said in a Tuesday statement.

The government scrapped much of its Covid restrictions within just a few weeks, allowing Covid-infected cases to isolate at home and canceling testing requirements for entering most public venues. That’s made it harder to gauge how widespread the outbreaks are since official tallies have plunged.

Analysts are increasingly turning to alternative indicators, such as online word searches for Covid-related symptoms like fever. Researchers from a medical university in Anhui province last year found a strong correlation between the word searches and the number of confirmed cases.

Data from China’s popular search engine Baidu shows searches for the word “fever” surged 823 percent in Beijing since the beginning of December, compared with a 303 percent rise in Shanghai and 437 percent in Guangzhou. Nationwide, the increase was 679 percent during the period.

Beijing residents are avoiding going out as infections spike. The number of subway trips made in the capital city over the past few weeks has slumped at a faster pace than in other major cities such as Shanghai and Guangzhou. Mobility is near the trough reached in May when the city was partially locked down to contain an outbreak at the time.

Beijing, Chongqing in the southwest and Zhengzhou in central China have the most empty roads among major cities in the country, according to Baidu’s data, reflecting the severity of infections in those areas. Congestion in Beijing, which has the highest car registrations in the nation, dropped to just 36 percent of its level in January 2021, according to figures as of Tuesday.

The tech hub of Shenzhen, which neighbors Hong Kong, the port city of Ningbo in the east and Shanghai seem to be less affected as their road traffic is hovering at normal levels.

The Covid wave is also rippling through the nation’s financial industry, with currency volumes falling as traders call in sick and banks activating backup plans to keep operations running smoothly. Half of the currency traders at one Chinese bank in Beijing were off sick as of Monday.

China’s banking regulator urged lenders to ensure operations at branches continue to reduce the impact of the pandemic on the economy. Bank outlets that aren’t located in high-risk areas are prohibited from halting face-to-face businesses without solid reasons, the China Banking and Insurance Regulatory Commission said in a statement Wednesday. With assistance from Philip Geurts/ Bloomberg.

Japan trade deficit soars on weak yen, high oil prices

TOKYO—Japan’s trade deficit surged to over 2 trillion yen ($15 billion) in November as higher costs for oil and a weak yen combined to push imports sharply higher.

It was the 16th straight month of red ink and a record high for the month of November. The country will likely post a record deficit for the year.

The deficit for November was double that for the same month the year before. Exports rose 20 percent to 8.8 trillion yen ($64 billion) while imports surged 30 percent from a year earlier to 10.9 trillion yen ($80 billion).

The world’s third-largest economy has been recovering after Japan gradually loosened anti-virus precautions in the second half of the year and reopened its borders to foreign tourists in October.

But its export sector is under pressure from rising costs, shortages of computer chips and some other industrial inputs and weakening demand as central banks in major markets like the United States and European Union impose interest rate hikes to slow business activity and tame inflation.

Shipments to China rose only 3.5 percent, as the country remained in the throes of its “zero-Covid” restrictions, which hurt business activity including manufacturing. Exports to all of Asia

climbed nearly 12 percent.

Japan’s exports to the US jumped nearly 33 percent, with the trade surplus rising 54 percent.

Exports of vehicles were sharply higher as shortages of computer chips and other parts eased. Meanwhile, imports of coal, gas and other fuels surged more than 60 percent, boosted by higher prices and the weaker yen.

Japan’s imports from Russia dropped 36 percent in November, with a sharp decline in shipments of oil, natural gas and timber. Tokyo has joined other democracies in imposing sanctions against Moscow for its war on Ukraine, though it has said it will continue to import natural gas from a joint project in Sakhalin in Russia’s Far East.

A weaker currency makes imports more expensive in yen-denominated terms. Japan’s currency has lost value against the US dollar and other currencies as the Federal Reserve and other central banks have raised interest rates while the Bank of Japan has kept its key interest rate at an ultra-low minus 0.1 percent. Japan’s domestic inflation has remained relatively low and with recessions looming elsewhere, the concern is that higher rates might derail the country’s fragile economic recovery. AP

By Mike Stobbe AP Medical Writer

NEW YORK—The number of US deaths dropped this year, but there are still more than there were before the coronavirus hit.

Preliminary data—through the first 11 months of the year—indicates 2022 will see fewer deaths than the previous two Covid-19 pandemic years. Current reports suggest deaths may be down about 3 percent from 2020 and about 7 percent vs. 2021.

US deaths usually rise year-to-year, in part because the nation’s population has been growing. The pandemic accelerated that trend, making last year the deadliest in US history, with more than 3.4 million dying. If current trends continue, this year will mark the first annual decline in deaths since 2009.

It will be months before health officials have a full tally. The October and November numbers are not yet complete and a late-December surge could change the final picture, said Farida Ahmad, who leads mortality surveillance at the Centers for Disease Control and Prevention.

If the decline does hold, it will still be a far cry from where the nation was before the coronavirus appeared. This year’s count is likely to end up at least 13 percent higher than what it was in 2019.

“We’re [still] definitely worse off than we were before the pandemic,” said Amira Roess, a George Mason University professor of epidemiology and global health.

Once again, most of the annual change is due to the ebb and flow of Covid-19, which has killed more than 1,080,000 Americans since it first was recognized in the US in early 2020.

This year started off horribly, with about 73,000 Covid deaths in January alone—the third deadliest month from

Covid-19 since the pandemic began. For 2022, “the bulk of mortality was concentrated during that omicron wave at the beginning of the year,” said Iliya Gutin, a University of Texas researcher tracking Covid-19 mortality.

Monthly Covid-19 deaths dropped below 4,000 in April and averaged about 16,000 per month through November. The monthly average for 2021 was more than double that.

Covid-19 will nevertheless end up as the nation’s third leading cause of death this year, just as it was in 2020 and 2021—behind the perennial leader, heart disease, and cancer.

Heart disease deaths, which have tended to surge in tandem with Covid-19 deaths, are on track to be down from 2021, Ahmad said. And it’s not clear whether the number of cancer deaths will change, based on preliminary data.

There may be some relatively good news regarding drug overdose deaths, which hit an all-time high last year.

Provisional overdose death data posted by the CDC on Wednesday—through the first seven months of this year— suggests overdose deaths stopped climbing early this year, around last winter’s end.

Also Wednesday, the CDC released its first report on deaths involving long Covid—long-term symptoms after a person has recovered from coronavirus infection. The CDC estimates that about 3,500 deaths from January 2020 through June 2022 involved long Covid. That’s about 1 percent of deaths in which Covid was deemed the underlying or contributing cause.

Experts believe pharmaceutical weapons against the coronavirus have been making a difference. The Commonwealth Fund this week released a modeling study that concluded the US Covid-19 vaccination program prevented more than 3.2 million deaths.

A CONTAINER ship is loaded and unloaded at a container terminal at a port of Kawasaki near Tokyo on March 9, 2022. Japan’s trade deficit surged to over 2 trillion yen ($15 billion) in November as higher costs for oil and a weak yen combined to push imports sharply higher. AP/KOJI SASAHARA

US deaths fell this year, but not to pre-pandemic levels

BIDEN TELLS AFRICAN LEADERS U.S. IS ‘ALL IN’ ON THE CONTINENT

By Aamer Madhani & Colleen Long The Associated Press

WASHINGTON—President Joe Biden told dozens of African leaders gathered in Washington that the United States is “all in on Africa’s future,” laying out billions in promised government funding and private investment Wednesday to help the growing continent in health, infrastructure, business and technology.

“The US is committed to supporting every aspect of Africa’s growth,” Biden told the leaders and others in a big conference hall, presenting his vision at the three-day US-Africa Leaders Summit of how the US can be a critical catalyst.

Biden, who is pitching the US as a reliable partner to promote democratic elections and push critical health and energy growth, told the crowd the $55 billion in committed investments over the next three years—announced on Monday—was “just the beginning.”

He announced more than $15 billion in private trade and investment commitments and partnerships.

“There’s so much more we can do together and that we will do together,” Biden said. The president after his speech spent some time with leaders, including Moroccan Prime Minister Aziz Akhannouch, watching Morocco’s World Cup match with France. Morocco lost but made history as the first African team to advance to the tournament’s semifinal round.

The United States has fallen well behind China in investment in sub-Saharan Africa, which has become a key battleground in an increasingly fraught competition between the major powers. The White House insists this week’s gathering is more a listening session with African leaders than an effort to counter Beijing’s influence, but the president’s central foreign policy tenet looms over all: America is in an era-defining battle to prove democracies can out-deliver autocracies.

That message was clear in Wednesday’s events. In his speech, Biden spoke of how the US would help in modernizing technology across the continent, providing clean energy, moving women’s equality forward through business opportunities, bringing clean drinking water to communities and better funding health care. First lady Jill Biden’ s office also laid out $300 million for cancer prevention, screening, treatment and research in Africa.

On Wednesday Biden also held a smaller meeting at the White House with the leaders of the Democratic Republic of Congo, Gabon, Liberia, Madagascar, Nigeria and Sierra Leone. Thursday is to be dedicated to high-level discussions among leaders; Biden will open the day with a session on partnering with the African Union’s strategic vision for the continent.

The president and first lady hosted a White House dinner for all the leaders and their spouses Wednesday night, with the food prepared by Mashama Bailey, the executive chef of The Grey, a Southern cooking spot in Savannah, Georgia. Gladys Knight provided the post-dinner entertainment.

Biden in a toast at the start of the dinner noted the “original sin” of enslaved Africans brought to US shores and paid tribute to the next generation of leaders in both the US and sub-Saharan Africa.

“Because particularly of our young people, in all our countries together, we can deliver a world that is healthier and safer, more equal, more just, more prosperous and more filled with opportunity for everyone,” Biden said.

Senegalese President Macky Sall, who also heads the African Union bloc, expressed hope in his own toast that the US and African leaders could advance their partnership “to the next level.”

The summit is the largest international gathering in Washington since before the start of the pandemic. Roads all around the city center were blocked off, and motorcades zoomed by gridlocked traffic elsewhere, ferrying some of the 49 invited heads of state and other leaders.

Many leaders of the continent’s 54 nations often feel they’ve been given short shrift by leading economies. But the continent remains crucial to

global powers because of its rapidly growing population, significant natural resources and sizable voting bloc in the United Nations. Africa also remains of great strategic importance as the US recalibrates its foreign policy with greater focus on China—the nation the Biden administration sees as the United States’most significant economic and military adversary.

But Biden invited several leaders who have questionable records on human rights, and democracy loomed large.

Equatorial Guinea was invited despite the State Department stating “serious doubts” about last month’s election in the tiny Central African nation. Election officials reported that President Teodoro Obiang’s ruling party won nearly 95% of the vote.

Zimbabwe, which has faced years of US and Western sanctions, also was invited.

Tunisian President Kais Saied, who has been criticized by the United States for democratic backsliding, used an appearance before reporters with US Secretary of State Antony Blinken on Wednesday to offer a stout defense of actions he has taken, including suspending the parliament and firing judges.

“The country was on the brink of civil war all over the country, so I had no other alternative but to save the Tunisian nation from undertaking any nasty action,” Saied said.

Biden made no mention of China in his remarks, and White House officials rejected the notion that the summit was in part about countering China’s influence.

National Security Council spokesman John Kirby said the administration is “refusing to put a gun” to Africa’s head and make it choose between US and China. At the same time, he said “there’s nothing inconsistent about calling a fact a fact and shedding light on what is increasingly obvious to our African partners about China’s malign influence on the continent.”

Still, the summit-related activity got a rise out of China. Foreign Ministry spokesperson Wang Wenbin said the US should “respect the will of the African people and take concrete actions to help Africa’s development, instead of unremittingly smearing and attacking other countries.”

Wang said at a briefing Wednesday that it is the “common responsibility of the international community to support Africa’s development.” But he added: “Africa is not an arena for great power confrontation or a target for arbitrary pressure by certain countries or individuals.”

Rwandan President Paul Kagame also bristled at the idea of his country and others on the continent getting caught between the US and China. “I don’t think we need to be bullied into making choices between US and China,” Kagame said during an event on the summit’s sideline hosted by the news organization Semafor.

Biden has promised US support for a permanent Group of 20 seat for the African Union, and the appointment of a special representative to implement summit commitments.

In addition to China, talks also spotlighted what the US sees as malevolent Russian action on the continent.

The administration argued in its subSaharan strategy published earlier this year that Russia, the preeminent arms dealer in Africa, views the continent as a permissive environment for Kremlin-connected oligarchs and private military companies to focus on fomenting instability for their own strategic and financial benefit.

During an appearance with Blinken on Wednesday, Ghanaian President Nana AkufoAddo expressed alarm about the presence of mercenaries from Russia’s Wagner Group in Burkina Faso directly north of Ghana. This follows a similar deployment of Wagner forces in Burkina Faso’s immediate neighbor Mali.

“Today, Russian mercenaries are on our northern border,” said Akufo-Addo, adding that he believed Burkinabe authorities had given the Wagner Group control of a mine for payment and that the country’s prime minister had recently visited Moscow.

TheAssociatedPresswriterMatthewLeein WashingtonandCaraAnnainNairobi,Kenya, contributedtothisreport.

World

Diplomats: UN blocks Myanmar military from taking UN seat

By Edith M. Lederer The Associated Press

UNITED NATIONS—A key UN committee has again blocked Myanmar’s military junta from taking the country’s seat at the United Nations, two well-informed UN diplomats said Wednesday.

The General Assembly’s credentials committee met Monday and deferred action on the junta’s request, the diplomats said, speaking on condition of anonymity before a formal announcement likely later this week.

The decision means that Kyaw Moe Tun, who was Myanmar’s ambassador at the United Nations when the military ousted civilian leader Aung San Suu Kyi on Feb. 1, 2021, will remain on the job.

Last December, Myanmar’s military rulers also failed in their effort to replace Tun, who remains a supporter of the previous government and the opposition National Unity Government, which opposes the junta.

Chris Gunness, director of the

London-based Myanmar Accountability Project, welcomed the credentials committee’s move, saying it has “great diplomatic and symbolic significance, at a time when the illegal coup leaders are attempting to gain international recognition.”

“General Min Aung Hlaing has inflicted on the people of Myanmar violence of a scale not seen in Southeast Asia since Pol Pot unleashed the Khmer Rouge’s reign of terror on Cambodia,” Gunness said in a statement.

Damian Lilly, an Accountability Project official, urged the United Nations to ensure that Tun is afforded all UN rights and privileges and that the National Unity Government “is allowed

to represent Myanmar in all UN bodies.”

“At present, there are glaring inconsistencies,” he said, with Tun sitting in the 193-member General Assembly while Myanmar’s seat at the UN Human Rights Council is empty.

Lilly said the credentials committee’s action “must pave the way to resolving these anomalies which are depriving 55 million people in Myanmar of the opportunity to be represented at the UN by the

government which they elected by a landslide in 2020.”

Suu Kyi, who was arrested when the military seized power from her elected government, has been sentenced to 26 years’ imprisonment and faces additional charges.

Rights groups and supporters of Suu Kyi say the charges against her are politically motivated and an attempt to discredit her and legitimize the military’s seizure of power while preventing her from returning to politics.

Peru’s new government declares national emergency amid protests

By Regina Garcia Cano The Associated Press

LIMA, Peru—Peru’s new government declared a national emergency Wednesday as it struggled to calm violent protests over President Pedro Castillo’s ouster, suspending the rights of “personal security and freedom” across the Andean nation for 30 days.

Acts of vandalism, violence and highway blockades as thousands of Peruvians are in the streets “require a forceful and authoritative response from the government,” Defense Minister Luis Otarola Peñaranda said.

The declaration suspends the rights of assembly and freedom of movement and empowers the police, supported by the military, to search people’s homes without permission or judicial order. Otarola said it had not been determined whether a nightly curfew would be imposed.

Peru has been wracked by nearly a week of political crisis and unrest that have undermined stability.

The troubles have “been increasing in such magnitude that the very idea of order, the very idea of authorities that can govern the country in some way is called into question,” said Jorge Aragón, a political science professor at Pontifical Catholic University of Peru.

The decree, he added, is “a way of wanting to recover a certain minimum stability, a certain minimum functioning of the country, but obviously it is also the recognition that without that use of force that cannot be achieved.”

The defense minister said the declaration was agreed to by the council of ministers. It didn’t mention Peru’s new president, Dina Boluarte, who was sworn in by Congress last week hours after lawmakers ousted Castillo.

Boluarte pleaded for calm as demonstrations continued against her and Congress.

“Peru cannot overflow with blood,” she said earlier Wednesday.

Referring to demands for immediate elections, she suggested they could be held a year from now,

four months before her earlier proposal, which placated no one.

Boluarte floated the possibility of scheduling general elections for December 2023 to reporters just before a hearing to determine whether Castillo would remain jailed for 18 months while authorities build a rebellion case against him. The judge postponed the hearing after Castillo refused to participate.

“The only thing I can tell you sisters and brothers (is) to keep calm,” Boluarte said. “We have already lived through this experience in the ‘80s and ‘90s, and I believe that we do not want to return to that painful history.”

The remarks of Castillo’s running mate recalled the ruinous years when the Shining Path insurgency presided over numerous car bombings and assassinations. The group was blamed for more than half of the nearly 70,000 estimated deaths and disappearances caused by various rebel groups and a brutal government counterinsurgency response.

Protesters have blocked streets in Peru’s capital and many rural communities, demanding Castillo’s freedom, Boluarte’s resignation and the immediate scheduling of general elections to pick a new president and replace all members of Congress.

At least seven people have

been killed, including a teenager who died Wednesday after being injured during protests in Andahuaylas, a hospital director said.

All perished in the same kinds of impoverished communities whose voters propelled the rural teachers union leader to victory last year after he promised a populist approach to governing.

Castillo was ousted by lawmakers on December 7 after he sought to dissolve Congress ahead of their third attempt to impeach him. His vehicle was intercepted as he traveled through Lima’s streets with his security detail. Prosecutors accused him of trying to seek political asylum at the Mexican Embassy.

In a handwritten letter shared Wednesday with The Associated Press by his associate Mauro Gonzales, Castillo asked the InterAmerican Commission on Human Rights to intercede for his “rights and the rights of my Peruvian brothers who cry out for justice.”

The commission investigates allegations of human rights violations and litigates them in some cases.

In the last week, protesters have burned police stations, taken over an airstrip used by the armed forces and invaded the runway of the international airport in Arequipa, a gateway to some of Peru’s tourist attractions. The passenger train that carries visitors to Machu Picchu suspended service, and road -

blocks on the Pan-American Highway have stranded trailer trucks for days, spoiling food bound for the capital.

Otarola on Tuesday said the total number of people “causing this disturbance” has been no more than 8,000 nationwide, an estimate that vastly understates support for Castillo, who took office in July 2021 after gaining nearly 8.8 million votes to win the presidential runoff election by a narrow 50.1 percent share of the vote.

Boluarte said Wednesday that 200 police officers had been injured in the protests, and she met with at least two of them at a hospital.

Speaking to an officer with facial injuries, the president said that “one group,” which she did not identify, is leading the protests.

“It is a group that is pulling the uninformed community because, surely, many come out to this protest and do not even know what they are going out to protest for,” Boluarte said. “But this smaller group that is behind them encourages them to come out with these violent attitudes.”

By Wednesday, members of the armed forces had already been deployed to Arequipa and other areas outside Lima. Securing rural areas far from the capital could take longer.

Five of the deaths have been in Andahuaylas, an Andean commun ity whose impoverished residents have long felt abandoned by the government and occasionally rebelled against it. College student Luis Torres joined a protest of about 2,000 people there Wednesday as a few white vans carrying soldiers moved through the streets.

“This measure is disproportionate. It shows the political precariousness of the government that Mrs. Dina Boluarte is having now,” Torres said. “We are all marching peacefully, for something fair that we are demanding. At least Andahuaylas will continue to fight.”

THE United Nations General Assembly Hall sits empty before the start of the 76th Session of the General Assembly at UN headquarters on September 20, 2021, in New York. A key UN committee has again blocked Myanmar’s military junta from taking the country’s seat at the United Nations, two well-informed UN diplomats said Wednesday, December 14, 2022.

JOHN ANGELILLO/POOL VIA AP

The Associated Press writers Franklin Briceño in Andahuaylas, Peru, and David Pereda in Lima contributed to this report.

PRESIDENT Joe Biden speaks during a toast in the East Room of the White House in Washington on Wednesday, December 14, 2022, during the US-Africa Leaders Summit dinner as Senegalese President Macky Sall listens. AP/SUSAN WALSH

POLICE arrive where supporters of ousted Peruvian President Pedro Castillo protest his detention in Arequipa, Peru on Wednesday, December 14, 2022. Castillo was detained on December 7 after he was ousted by lawmakers when he sought to dissolve Congress ahead of an impeachment vote. AP/FREDY SALCEDO

Fed raises key rate by half-point and signals more hikes to come

By Christopher Rugaber AP Economics Writer

WASHINGTON—The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. But it announced a smaller hike than it had in its past four meetings at a time when inflation is showing signs of easing.

The Fed made clear, in a statement and a news conference by Chair Jerome Powell, that it thinks sharply higher rates are still needed to fully tame the worst inflation bout to strike the economy in four decades.

The central bank boosted its benchmark rate a half-point to a range of 4.25 percent to 4.5 percent, its highest level in 15 years. Though lower than its previous three-quarter-point hikes, the latest move will further increase the costs of many consumer and business loans and the risk of a recession.

More surprisingly, the policymakers forecast that their key short-term rate will reach a range of 5 percent to 5.25 percent by the end of 2023. That suggests that the Fed is poised to raise its rate by an additional three-quarters of a point and leave it there through next year. Some economists had expected that the Fed would project only an additional half-point increase.

The latest rate hike was announced one day after an encouraging report showed that inflation in the United States slowed in November for a fifth straight month. The year-over-year increase of 7.1 percent, though still high, was sharply below a recent peak of 9.1 percent in June.

“The inflation data in October and November show a welcome reduction,” Powell said at his news conference. “But it will take substantially more evidence to give confidence that inflation is on a sustained downward path.”

In its updated forecasts, the Fed’s policymakers predicted slower growth and higher unemployment

for next year and 2024. The unemployment rate is envisioned to jump to 4.6 percent by the end of 2023, from 3.7 percent today. That would mark a significant increase in joblessness that typically would reflect a recession.

Consistent with a sharp slowdown, the officials also projected that the economy will barely grow next year, expanding just 0.5 percent, less than half the forecast it had made in September.

“The Fed is not done—it sees a prolonged slowdown and a rise in unemployment as the only way to fully derail inflation,” Diane Swonk, chief economist at KPMG, said in a research note.

Though Powell said he thought the economy could still avoid a recession, the Fed’s economic forecasts show the policymakers expect job losses to result from its higher rates.

“They really need the unemployment rate to go higher and wages to start coming down,” said Subadra Rajappa, an investment strategist at Societe Generale.

Powell has said that slower wage growth would reduce inflation pressures.

Powell said Wednesday, “I just don’t think anyone knows whether we’re going to have a recession or not...I wish there were a completely painless way to restore price stability. There isn’t.”

In recent weeks, Fed officials have indicated that they see some evidence of progress in their drive to bring inflation back down to their 2 percent annual target. The national average for a gallon of regular gas, for example, has tumbled from $5 in June to $3.21.

Many supply chains are no

longer clogged, thereby helping reduce goods prices. The betterthan-expected November inflation data showed that the prices of used cars, furniture and toys all declined last month.

So did the costs of services from hotels to airfares to car rentals. Rental and home prices are falling, too, though those declines have yet to feed into the government’s data.

And one measure the Fed tracks closely—“core” prices, which exclude volatile food and energy costs for a clearer snapshot of underlying inflation—rose only slightly for a second straight month.

Inflation has also eased slightly in Europe and the United Kingdom, leading analysts to expect the European Central Bank and the Bank of England to slow their pace of rate hikes at their meetings Thursday. Both are expected to raise rates by half a point to target still painfully high prices spikes after big three-quarterpoint increases.

Inflation in the 19 countries using the euro currency fell to 10 percent from 10.6 percent in October, the first decline since June 2021. The rate is so far above the bank’s 2 percent goal that rate hikes are expected to continue into next year. Britain’s inflation also eased from a 41-year record of 11.1 percent in October to a still-high 10.7 percent in November.

Many economists think the Fed will further downshift to a quarter-point rate hike when it next meets early next year. Asked about that Wednesday, Powell said he has yet to decide how large he thinks the next hike should be. But having raised rates so fast, he said, “we think the appropriate thing to do now is to move at a slower pace.

That will allow us to feel our way.”

Powell downplayed any notion that the Fed might decide to reverse course next year and start cutting rates to support growth, as Wall Street investors are expecting.

“I wouldn’t see the committee cutting rates until we’re confident that inflation is moving down in a sustained way,” he said.

Cumulatively, the Fed’s hikes have led to much costlier borrowing rates for consumers as well as companies, ranging from mortgages to auto and business loans. They have sent home sales plummeting and are starting to weigh down rents on new apartments, a leading source of high inflation.

Fed officials have said they want rates to reach “restrictive” levels that slow growth and hiring and bring inflation down to their target range. Worries have grown that the Fed is raising rates so much in its drive to curb inflation that it will trigger a recession next year.

Powell’s biggest focus has been on services prices, which he has said are likely to stay persistently high. In part, that’s because sharp increases in wages are becoming a key contributor to inflation. Services companies, like hotels and restaurants, are particularly labor-intensive. And with average wages growing at a brisk 5 percent-6 percent a year, price pressures keep building in that sector of the economy.

With many service-sector employers still desperate for workers, Powell said pay growth may remain above what’s consistent with the Fed’s 2 percent inflation target.

“We have a long way to go,” the Fed chair said, “to get to price stability.” AP Business Writer David McHugh contributed to this report from Frankfurt, Germany.

Trump Org. was secretly held in contempt for hindering probe

By Michael R. Sisak The Associated Press

NEW YORK—Donald

Trump’s company impeded a grand jury investigation last year by repeatedly failing to turn over evidence in a timely fashion, leading to a secret contempt finding and a $4,000 fine, according to court records made public Tuesday.

The Trump Organization was found to have been “willfully disobeying” four grand jury subpoenas and three court orders, to the detriment of Manhattan prosecutors who were left ill prepared to question witnesses, Judge Juan Manuel Merchan ruled.

The subpoenas, issued in March, April, May and June 2021, preceded the Trump Organization’s July 2021 indictment on criminal tax fraud charges for helping executives avoid taxes on company-paid perks. The company

was convicted this month and faces a fine of up to $1.6 million.

The $4,000 contempt fine was the maximum allowable by law.

It’s yet another kerfuffle involving Trump and allegations of mishandling or withholding records. In April, a judge held Trump in contempt and fined him $110,000 for being slow to respond to a civil subpoena issued by New York’s attorney general. The former president has also been under investigation for storing classified documents at his Mar-a-Lago estate in Florida.

Merchan vaguely referenced the Trump Organization’s contempt proceeding while presiding over the company’s criminal trial, saying he would wait until after it was over to unseal records related to an unspecified proceeding held last year.

That proceeding turned out to be the Trump Organization’s closed-door contempt trial on

October 7, 2021 and Merchan’s partially redacted 28-page ruling finding the company in contempt, which he issued on Dec. 8, 2021.

While the company’s name was blacked out in the court record released Tuesday, the details in the decision and the manner in which it was unsealed by the judge made it clear who was involved.

Manhattan prosecutors, frustrated with the company’s lack of compliance, had sought “coercive sanctions” of $60,000 per day, Merchan said.

Trump Organization lawyers argued that the company had been providing a steady stream of records, at one point totaling more than 3.5 million pages of records, but Merchan said that was “just enough to fend off” the prosecution’s request for penalties “while never fully meeting any of the deadlines.”

“When challenged (the company) provided one excuse after

another,” Merchan wrote. “At times it claimed it was impossible to meet deadlines because the demands were too voluminous, overbroad or vague. On other occasions, it blamed delays and omissions on human error” or technical issues.

In the recently concluded criminal tax fraud trial, two corporate entities at the Trump Organization were convicted December 6 of charges including charges of conspiracy and falsifying business records. Sentencing is scheduled for January 13. The defense said it will appeal. Trump himself was not on trial.

The company’s former finance chief, Allen Weisselberg, previously pleaded guilty to charges that he manipulated the company’s books to illegally reduce his taxes on $1.7 million in fringe benefits such as a Manhattan apartment and luxury cars. He testified in exchange for a promised five-month jail sentence.

Musk’s Twitter tweaks foreshadow EU showdown over new rules

By Kelvin Chan The Associated Press

LONDON—Self-proclaimed free speech warrior Elon Musk’s more unfettered version of Twitter could collide with new rules in Europe, where officials warn that the social media company will have to comply with some of the world’s toughest laws targeting toxic content.

While the new digital rulebook means the European Union is likely to be a global leader in cracking down on Musk’s reimagined platform, the 27-nation bloc will face its own challenges forcing Twitter and other online companies to comply. The law doesn’t fully take effect until 2024, and EU officials are scrambling to recruit enough workers to hold Big Tech to account.

Known as the Digital Services Act, the EU’s sweeping set of rules aims to make platforms and search engines more accountable for illegal and harmful content including hate speech, scams and disinformation. They’ll kick in next summer for the biggest digital companies like Google, Facebook and TikTok and then expand to all online services the following year.

Those standards are poised to run up against Musk’s whipsawing policies at Twitter: He abruptly axed a group of advisers this week who address problems like hate speech, child exploitation and self-harm, halved Twitter’s workforce and issued conflicting decisions about content moderation.

“A lot can change in six months, but it sure seems like Twitter is lining up to be Europe’s first major test case when it comes to enforcing the DSA,” said John Albert of Berlin-based AlgorithmWatch, a nonprofit research and advocacy group.

Musk has called for “freedom of speech, not freedom of reach,” saying he wants to downgrade negative and hateful posts. The billionaire Tesla CEO considers the bloc’s rules “a sensible approach to implement on a worldwide basis,” EU digital policy chief Thierry Breton recounted after a video call with Musk this month.

Other jurisdictions are far behind Europe. In the US, Silicon Valley lobbyists have largely succeeded in keeping federal lawmakers at bay, and Congress has been politically divided on efforts to address competition, online privacy, disinformation and more. Britain is working on its own Online Safety Bill, but it was recently watered down and not clear when it will be approved.

Musk’s style of making ad hoc changes won’t fly under the new European rulebook, experts said.

Twitter’s disastrous rollout of paid “verified” blue checks likely would have triggered an EU investigation and possibly big fines because such major design changes wouldn’t be allowed without a risk assessment, Albert said.

The premium service was abandoned last month after a flood of imposter accounts spread disinformation. It relaunched this week.

The abrupt disbanding of Twitter’s Trust and Safety Council also would “raise some eyebrows in Brussels,” Albert said. Expert advisers aren’t required under the EU rules, but “good-faith voluntary efforts” show “European regulators that you care about transparency and are invested in trust and safety,” he said.

Musk’s tinkering—including dropping enforcement of Covid-19 misinformation rules and granting amnesty to suspended accounts—has already alarmed European officials.

Musk’s approach is “a big issue” that calls for “more regulation,” French President Emmanuel Macron told “Good Morning America.”

In Europe, “you can demonstrate you can have free speech, you can write what you want. But there are responsibilities and limits,” he said. Macron, who met with Musk in the US this month, tweeted that “efforts have to be made by Twitter to comply with European regulations.”

The bloc will require online companies to follow clear rules on dealing with illegal content and explain to users why the material was taken down or given a warning label. They will have to be transparent

about the workings of their content moderation systems and recommendation algorithms, which suggest the next song, news story or product to users. They must let EU regulators review their efforts.

Breton, the EU’s digital policy chief, said he reminded Musk about the penalties for violations, including fines worth 6% of global annual revenue that could reach billions. Repeat violations could result in an EU-wide ban. Musk and Twitter didn’t respond to messages seeking comment.

Musk is already “backtracking on the absolutism” of free speech by suspending the rapper formerly known as Kanye West for a swastika post, said Marietje Schaake, a former European Parliament lawmaker who’s now international cyber policy director at Stanford University.

“The problem is that there is a lot of hateful content below this threshold, which will make Twitter under Musk less safe and pleasant for women, minorities and people whose opinions are met with aggression,” Schaake said.

To tackle such “lawful but awful” content that frequently bedevils content moderators, the EU will require extra scrutiny for the biggest online platforms— those with 45 million monthly users.

There’s speculation Twitter might not qualify. It reported 238 million users before it was bought by Musk, who complained that the number of fake accounts was vastly understated. Companies have to report their user numbers to the EU by mid-February.

Big platforms will have to assess how they’re dealing with “systemic risks,” such as harassment, election-related disinformation, hoaxes and manipulation during pandemics.

By the summer, the first changes stemming from the rules should start appearing via digital “buttons” on websites and apps so users can easily flag illegal content.

The wide-ranging rulebook also poses a challenge for regulators who need to hire enough enforcers. EU officials have estimated they will add more than 100 full-time staff by 2024 to enforce the DSA and other new rules on digital competition.

Each of the 27 EU countries also will have to hire more people to police smaller platforms and coordinate with Brussels. On top of that, tech companies need to recruit more compliance staff.

All three groups will be hiring for very specific and similar skill sets: experts who know how platforms and their algorithms work, have insight into sites’ content moderation practices and have experience enforcing regulations.

The problem is they “might end up competing for the same talents,” said Rita Jonusaite, advocacy coordinator at EU DisinfoLab, a nonprofit group that researches disinformation.

There are concerns some European countries won’t have the means and expertise to enforce the rules, especially if they’re building skills in areas like disinformation from scratch.

“Regulators need to train themselves and acquire capacity very quickly,” Jonusaite said.

The EU’s executive Commission has launched a recruitment spree for dozens of expert jobs, including legal officers, data scientists, technology specialists, and digital policy officers to help supervise the systems that online platforms use to combat illegal content such as terrorist or child sexual abuse material and to fight harmful posts like disinformation.

Meanwhile, Musk axed thousands of employees and many others resigned, including those in content moderation roles. It’s unclear whether he plans to add staff to comply with Europe’s rules.

“As Musk is scrambling to both save money, comply with the law, and keep advertisers on board, the main question is whether he will dedicate the needed resources to monitor content at all,” said Schaake of Stanford.

“It is one thing to make a conscious decision to leave racist content up, it is another to have it be up unnoticed” because teams monitoring content “are simply not there,” she said.

FEDERAL Reserve Chair Jerome Powell speaks during a news conference on Wednesday, December 14, 2022, at the Federal Reserve Board Building, in Washington. AP/JACQUELYN MARTIN

Bethlehem welcomes Christmas tourists again after pandemic lull

By Sam Mcneil The Associated Press

BETHLEHEM, West Bank—

Business is bouncing back in Bethlehem after two years in the doldrums during the coronavirus pandemic, lifting spirits in the traditional birthplace of Jesus ahead of the Christmas holiday.

Streets are bustling with tour groups. Hotels are fully booked, and months of deadly IsraeliPalestinian fighting appear to be having little effect on the vital tourism industry.

Elias Arja, head of the Bethlehem hotel association, said that tourists are hungry to visit the Holy Land’s religious sites after suffering through lockdowns and travel restrictions in recent years. He expects the rebound to continue into next year.

“We expect that 2023 will be booming and business will be excellent because the whole world, and Christian religious tourists especially, they all want to return to the Holy Land,” said Arja, who owns the Bethlehem Hotel.

On a recent day, dozens of groups from virtually every continent posed for selfies in front of the Church of the Nativity, built on the grotto where Christians believe Jesus was born. A giant Christmas tree sparkled in the adjacent Manger Square, and tourists packed into shops to buy olive wood crosses and other souvenirs.

Christmas is normally peak season for tourism in Bethlehem, located in the Israeli-occupied West Bank just a few miles southeast of Jerusalem. In pre-pandemic times, thousands of pilgrims and tourists from around the world came to celebrate. But those numbers plummeted during the pandemic. Although tourism hasn’t fully recovered, the hordes of visitors are a welcome improvement and encouraging sign.

“The city became a city of ghosts,” said Saliba Nissan, standing next to a manger scene about 1.3 meters (4 feet) wide inside the Bethlehem New Store, the olive wood factory he co-owns with his brother. The shop was filled with Americans on a bus tour.

Since the Palestinians don’t have their own airport, most international visitors come via Israel. The Israeli Tourism Ministry is expecting some 120,000 Christian tourists during the week of Christmas.

That compares to its all-time high of about 150,000 visitors in 2019, but is far better than last year, when the country’s skies were closed to most inter -

national visitors. As it has done in the past, the ministry plans to offer special shuttle buses between Jerusalem and Bethlehem on Christmas Eve to help visitors go back and forth.

“God willing, we will go back this year to where things were before the coronavirus, and be even better,” said Bethlehem’s mayor, Hanna Hanania.

He said about 15,000 people attended the recent lighting of Bethlehem’s Christmas tree, and that international delegations, artists and singers are all expected to participate in celebrations this year.

“Recovery has begun significantly,” he said, though he said the recent violence, and Israel’s ongoing occupation of the West Bank, always have some influence on tourism.

Israel captured the West Bank in the 1967 Mideast war. The internationally recognized Palestinian Authority has limited autonomy in parts of the territory, including Bethlehem.

The Christmas season comes at the end of a bloody year in the Holy Land. Some 150 Palestinians and 31 Israelis have been killed in Israeli-Palestinian fighting in the West Bank and east Jerusalem this year, according to official figures, making 2022 the deadliest year since 2006. Israel says most of the Palestinians killed were militants, but stonethrowing youths and some people not involved in the violence have also been killed.

The fighting, largely concentrated in the northern West Bank, reached the Bethlehem area earlier this month, when the Israeli army killed a teenager in the nearby Deheishe refugee camp. Palestinians held a oneday strike across Bethlehem to protest the killing.

Residents, however, seem determined not to allow the fighting to put a damper on the Christmas cheer.

Bassem Giacaman, the thirdgeneration owner of the Blessing Gift Shop, founded in 1925 by his grandfather, said the pandemic was far more devastating to his business than violence and political tensions.

Covered in sawdust from carving olive-wood figurines, jewelry and religious symbols, he said it will take him years to recover. He once had 10 people working for him. Today, he employs half that number, sometimes less, depending on demand.

“The political (situation) does affect, but nothing major,” Giacaman said. “We’ve had it for 60-70 years, and it goes on for a month, then it stops, and tourists come back again.”

World

Ukraine: Russian strikes on Kyiv thwarted, wreckage hits buildings

By Hanna Arhirova & Jamey Keaten The Associated Press

KYIV, Ukraine—Ukrainian authorities said they thwarted a Russian attack on Kyiv and the surrounding region Wednesday as their air defense system destroyed 13 explosive-laden drones, although wreckage damaged five buildings, without causing casualties.

The attempted strikes underlined how vulnerable Ukraine’s capital remains to the regular Russian attacks that have devastated infrastructure and population centers in recent weeks, mostly in the country’s east and south. But they also highlighted Ukraine’s claims of increasing efficiency in intercepting drones and missiles, and the possibility that Patriot missiles from the US may further boost defenses.

Ukrainian President Volodymyr Zelenskyy said in a video the “terrorists” fired 13 Iranian-made drones, and all were intercepted. Such drones have been part of the firepower—along with rockets, missiles, mortars and artillery— that Russia uses to target power stations, water facilities and other public utility equipment.

The snow-covered capital remained largely calm after the foiled attack, which occurred around daybreak. As the working day began, authorities sounded the all-clear.

The head of the Kyiv city administration, Serhii Popko, wrote on Telegram that the attempted strikes came in two waves. Wreckage from the intercepted drones damaged an administrative building and four residential buildings, he said.

A blast left the three-story tax office building in the central Shevchenkyvskyi district with a gaping hole in the roof and blew out windows in parked cars and in a neighboring building.

Clean-up crews were on site quickly to shovel away the rubble and roll out plastic sheeting to cover the blown-out windows in freezing temperatures. One man, unfazed, pushed his son on a swingset at a nearby playground as the crews worked.

Another parent, Anton Rudikov, said his family was sleeping when they heard an explosion and

smashing windows. “Thank God the children were not affected” beyond their fright, said Rudkov, whose daughters are 13 and 18 years old. But why Russia would attack his neighborhood left him perplexed.

“I didn’t do anything bad to them, but it struck my house. From where? I don’t understand why,” he said.

Residents told Associated Press reporters they saw fragments from a drone bearing the words “For Ryazan.” The Kremlin claims Ukraine was responsible for a cross-border attack last week on a military base in the Ryazan region of western Russia.

Ukrainian authorities have trumpeted their ability to knock down Russian weapons. But strikes in some areas continue to cause deaths and havoc, particularly close to the front lines in the east and south. In the southern city of Odesa, drone strikes temporarily shut off the power last week. Kyiv has suffered comparatively little damage.

More air defense help was apparently on the way. US officials said Tuesday the United States was poised to approve sending a Patriot missile battery to Ukraine, agreeing to an urgent Ukrainian request. The Patriot would be the most advanced surface-to-air missile system the West has provided to Ukraine to help repel Russian aerial attacks since Russia invaded February 24.

The Russian Embassy in Washington said a Patriot missile delivery would be “another provocative step by the administration, which could lead to unpredictable consequences.” It added that this would cause “colossal damage not only to Russian-American relations but would create additional global security risks.”

US officials said last week that Moscow has looked to Iran

to resupply its military with drones and surface-to-surface missiles.

The damage from Russian strikes has interrupted electricity, heating and water supplies as winter approaches. Yet the UN migration agency said more than 5 million people who were displaced within or outside Ukraine since Russia invaded have returned.

The International Organization for Migration said a November 25 to December 5 phone survey of 2,002 respondents in Ukraine found that only 7 percent were considering leaving.

Providing other estimates, Ukraine’s human rights chief said Wednesday that close to one-fifth of the country’s prewar population sought refuge abroad during the war. Dmytro Lubinets said 7.9 million Ukrainian citizens left the country and 4.9 million were internally displaced. Lubinets did not specify how many Ukrainian refugees have returned.

Prisoners of war also were on the move. The head of Zelenskyy’s office, Andriy Yermak, said 64 Ukrainian soldiers and a US national living in Ukraine were released in the latest prisoner swap with Russia. In a Telegram post, he identified the “US citizen who helped our people” as Suedi Murekezi. Yermak did not elaborate.

What—if any—role Murekezi was serving in Ukraine wasn’t immediately clear. A US official speaking to The Associated Press on condition of anonymity to discuss the Ukraine conflict confirmed Murekezi was released. The official said Murekezi had been living in or near Kherson and that Russian forces had detained him.

A group claiming to have helped rescue him, Project Dynamo, said Murekezi was a US air force veteran whom Russian forces detained in June. The Florida-based group

Project DYNAMO—an international search, rescue, aid nonprofit organization—said he was freed October 28, and then lived in Donetsk.

In other developments Wednesday:

n Ukrainian authorities said they have discovered evidence that children were tortured during Russian occupation. Lubinets, Ukraine’s human rights chief, said “torture chambers for children” accused of resisting Russian forces were found in recaptured areas of northeastern and southern Ukraine. Lubinets said he saw two torture sites in Balakliya, in the northeastern Kharkiv region, and spoke with a boy who said he was held for 90 days and cut with a knife, burned, and subjected to mock executions.

n The Ukrainian presidential office said Russian forces struck 10 regions in central and southeastern Ukraine, destroying two university buildings in Kramatorsk. It said high-rise apartment blocks, a hospital and a bus station were also damaged. Russian forces also shelled eight towns and villages in the southern Kherson region, the presidential office reported.

n The International Atomic Energy Agency said it would station nuclear safety and security experts at Ukraine’s nuclear power plants to prevent a nuclear accident. The UN nuclear watchdog already has deployed a permanent mission to the Russian-held Zaporizhzhia Nuclear Power Plant. The plant, Europe’s biggest nuclear power station, has faced repeated shelling. Its six reactors have been shut down for months. Three other nuclear plants are located in Ukrainian-held territory, as is the decommissioned Chernobyl plant. Yuras Karmanau in Tallinn, Estonia, and Colleen Long in Washington contributed.

3 dead in Louisiana as storm spawns Southern tornadoes

By Jake Bleiberg & Kevin Mcgill The Associated Press

KEITHVILLE, La.—A vast and volatile storm system ripping across the US killed at least three people in Louisiana, spinning up tornadoes that battered the state from north to south, including the New Orleans area where memories of 2021’s Hurricane Ida and a tornado in March linger.

Elsewhere, the huge system hurled blizzard-like conditions at the Great Plains.

Several injuries were reported around Louisiana by authorities, and more than 40,000 power outages statewide as of Wednesday night.

The punishing stormws barreled eastward Wednesday after killing a mother and son in the northwestern part of the state a day earlier. The system spun off a suspected tornado that killed a woman Wednesday in southeast Louisiana’s St. Charles Parish and another that pummeled

parts of New Orleans and neighboring Jefferson and St. Bernard parishes—including areas badly damaged by a March tornado.

A tornado struck New Iberia, Louisiana, slightly injuring five people and smashing out windows of a multistory building at Iberia Medical Center, the hospital said. As night drew on, tornado threats eased in Mississippi, although some counties in Florida and Alabama remained under a severe weather threat.

New Orleans emergency director Collin Arnold said business and residences in the city suffered significant wind damage, largely on the Mississippi River’s west bank. One home collapsed. Four people were injured there, he said, adding, “The last word we had is that they were stable.”

Similar damage was reported nearby.

“Several homes and businesses have suffered catastrophic damage,” the Jefferson Parish Sheriff’s Office said in a statement from that large suburb west of New Orleans. Among

the heavily damaged buildings was the sheriff’s office’s training academy building.

In St. Bernard Parish—where the March twister caused devastation—Sheriff Jimmy Pohlman said the latest tornado damage covered a roughly 2-mile (3.2-kilometer) stretch. Parish President Guy McInnis said the damage was less than in the March tornado though numerous roofs were blown away or damaged.

Authorities in St. Charles Parish, west of New Orleans, said a woman was found dead there after a suspected tornado on Wednesday struck the community of Killona along the Mississippi River, damaging homes. Eight people were taken to hospitals with injuries, they said.

“She was outside the residence, so we don’t know exactly what happened,”St. Charles Parish Sheriff Greg Champagne said of the woman killed. “There was debris everywhere. She could have been struck. We don’t know for sure. But this was a horrific and a very violent tornado.”

About 280 miles (450 kilometers) away in northern Louisiana, it took hours for authorities to find the bodies of a mother and child missing after a tornado swept away their mobile home Tuesday in Keithville, south of Shreveport.

“You go to search a house and the house isn’t even there, so where do you search?” Gov. John Bel Edwards told reporters, noting the challenge faced by emergency responders as he toured a mile-long (1.6-kilometer) path of destruction in rural Keithville. He had issued an emergency declaration earlier in the day.

The Caddo Parish Coroner’s Office said the body of 8-year-old Nikolus Little was found late Tuesday night in some woods and the body of his mother, Yoshiko A. Smith, 30, under storm debris early Wednesday.

Caddo Parish Sheriff’s Sgt. Casey Jones said the boy’s father had gone for groceries before the storm. “He just went to go shopping for his family, came home and the house was gone,” said Jones.

PEOPLE check a tax office building that was heavily damaged in Russian shelling in Kyiv, Ukraine on Wednesday, December 14, 2022. AP/EVGENIY MALOLETKA

TOURISTS visit the Church of the Nativity, traditionally believed to be the birthplace of Jesus Christ, in the West Bank town of Bethlehem on Monday, December 5, 2022. Business in Bethlehem is looking up this Christmas as the traditional birthplace of Jesus recovers from a two-year downturn during the coronavirus pandemic. Streets are already bustling with visitors, stores and hotels are fully booked and a recent jump in Israeli-Palestinian fighting appears to be having little effect on the vital tourism industry. AP/ MAHMOUD ILLEAN

editorial

Will same-sex marriage be legalized in PHL?

Various types of same-sex marriages have existed thousands of years ago. From Wikipedia: same-sex unions were known in ancient Greece and rome, ancient Mesopotamia, in some regions of China, such as Fujian province, and at certain times in ancient European history.

At least two of the Roman emperors were in same-sex unions. Emperor Nero was reportedly the first Roman emperor to have married a man. Historical accounts said he married two other men on different occasions. Adolescent emperor Elagabalus referred to his chariot driver, a blond slave from Caria named Hierocles, as his husband. He also married an athlete named Zoticus in a lavish public ceremony in Rome amid the rejoicings of the citizens.

On December 19, 2000, the Netherlands became the first country to legalize same-sex marriage when the Dutch parliament passed, by a three-to-one margin, a landmark bill allowing the practice. The legislation gave same-sex couples the right to marry, divorce and adopt children.

Today, same-sex marriage is legally performed and recognized in the following countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Colombia, Costa Rica, Cuba, Denmark, Ecuador, Finland, France, Germany, Iceland, Ireland, Luxembourg, Malta, Mexico, the Netherlands, New Zealand, Norway, Portugal, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, United Kingdom, Uruguay and the United States.

From the Associated Press: A celebratory crowd of thousands bundled up on a chilly Tuesday afternoon to watch President Joe Biden sign gay marriage legislation into law, a joyful ceremony that was tempered by the backdrop of an ongoing conservative backlash over gender issues. “This law and the love it defends strike a blow against hate in all its forms,” Biden said on the South Lawn of the White House. “And that’s why this law matters to every single American.”

AP reported that lawmakers from both parties attended Tuesday’s ceremony, reflecting the growing acceptance of same-sex unions, once among the country’s most contentious issues.

Senate Majority Leader Chuck Schumer wore the same purple tie to the ceremony that he wore to his daughter Alison’s wedding. She and her wife are expecting their first child in the spring.

Biden has pushed to expand LGBT rights since taking office. He reversed President Donald Trump’s efforts to strip transgender people of anti-discrimination protections. His administration includes the first openly gay Cabinet member, Transportation Secretary Pete Buttigieg, and the first transgender person to receive Senate confirmation, Assistant Secretary for Health Rachel Levine.

A majority of Republicans in Congress voted against the legislation. But enough supported it to sidestep a filibuster in the Senate and ensure its passage. In the end, US lawmakers crafted a compromise that was intended to assuage conservative concerns about religious liberty, such as ensuring churches could still refuse to perform gay marriages.

Will same-sex marriage be legalized in a Catholic country like the Philippines?

Although the Constitution does not expressly prohibit same-sex marriage, the Family Code of the Philippines defines marriage as “a special contract of permanent union between a man and a woman.”

Same-sex marriage remains a highly contentious issue in the Philippines because religion retains its central role in society. For example, Pope Francis is extremely popular in the Philippines. And Filipinos look up to the Pope for spiritual and moral guidance on faith-related things, like the Sacrament of Holy Matrimony.

In 2013, Pope Francis was quoted as saying, “If someone is gay and is searching for the Lord and has a good will, then who am I to judge him?”

In a recently released documentary, “Francesco,” made with the approval of the Vatican, Pope Francis was heard saying, “Homosexual people have a right to be in the family. They are children of God. They have a right to a family. Nobody should be thrown out of the family or made miserable over this. What we have to make is a law of civil coexistence, for they have the right to be legally covered. I stood up for that.”

However, Pope Francis definitively signaled the limits to his reformist intentions on March 15, 2021 through a Vatican decree reaffirming the church’s teaching that bars priests from blessing same-sex unions.

Engaging with the world

sonny M. angara

Better Days

The President reportedly held several bilateral talks at the sidelines of the summit, with 10 of his counterparts from Belgium, Estonia, the Czech Republic, Spain, Denmark, Germany, Poland, Finland, the Netherlands, as well as the leadership of the European Union.

Initial reports indicate that the President’s participation was well received, and will hopefully redound to even greater benefits to the country. Among the reported gains include up to P6.2 billion in investment deals, and expressions of commitment for continued collaboration with the Philippines from such leaders as European Council President Charles Michel and the King of Belgium Philippe Leopold Louis Marie.

President Marcos made it clear that under his administration, foreign policy will follow the maxim that the Philippines strives to be “friend to all, enemy to none.” This is why the several trips abroad the President has already taken should be viewed as part of a broad initiative for the Philippines to renew its close ties

with other nations, not least of which includes the European Union (EU).

The Philippines and the EU have had formal diplomatic relations for roughly six decades. But ties between Filipinos and Europeans have spanned for a time much longer than that. By way of the Spanish Crown, the Philippines was introduced to the rest of Europe, and vice versa after Ferdinand Magellan’s expedition made its landing at Homonhon Island in 1521. And through our pivotal role in the Manila-Acapulco Galleon Trade between 1565 and 1815, we gained access not only to new products, but also to new ideas, new concepts, new technologies, and new philosophies—many coming from European lands.

Economic, cultural, and social exchanges between the Philippines and European nations have persisted since then. And have blossomed to such robust degree that even though we are literally oceans away from each other, our ties endure because of our shared values and shared beliefs—such as in democracy, human

rights, rule of law, and freedom.

These relations haven’t always been smooth, however. Naturally, there will be instances where we don’t see eye to eye. But such disagreements and misunderstandings are part and parcel of international relations. They are no reason for the Philippines and the European Union to divorce, as my late father once said during his brief stint as Special Envoy to the EU.

And this is why a Congressional Delegation, co-headed by myself and Deputy Speaker Ralph Recto travelled to Brussels in late October. Joining us were Senate Deputy Majority Leader Mark Villar, Senators Win Gatchalian and Imee Marcos, as well as Representatives Maria Rachel J. Arenas, Mario Vittorio “Marvey” A. Mariño and Marlyn “Len” B. Alonte. Throughout the visit, no less than our Senate President Migz Zubiri joined the delegation, as well as Senate President Pro Tempore Loren B. Legarda, and Senators JV Ejercito, Grace Poe, and Nancy Binay.

We traveled to Brussels upon the invitation of the European Parliament’s Delegation for Relations with Southeast Asia and Asean or DASE, chaired by MEP Daniel Caspary. Our visit was largely seen to be mutually beneficial and largely auspicious for closer Philippine-EU Relations. For one, it was explained to us that the European Parliament had identified the Philippines as among the priority countries for inter-parliamentary dialogue—considering that the European Union, in general, aims to enhance its engagement in the

Indo-Pacific region.

On the part of the Philippines, the visit was seen as a fresh opportunity to engage with one of the core institutions that play an influential role in Philippines-EU relations. This is critical, considering that in the recent past disagreements have led to diplomatic snags between the Philippines and the EU.

The hope was that by ramping up face-to-face interparliamentary engagements, we would reaffirm that the Philippines continues to be an important partner and ally of the EU, and ensure more favorable outcomes for all sides.

We’re happy to note that as a direct result of our trip to Brussels, MEP Tomasz Piotr Poreba, one of the vice chairpersons of the DASE, will be visiting the Philippines in the coming days to continue the dialogue on common interests such as the renewal of the Philippines’s membership in the GSP+ and the realization of the proposed FTA with the EU.

The future is bright if we continue engaging each other, and if we remain united in our pursuit of mutual prosperity. This is why under the new administration of President Marcos, the Senate shall continue pushing for even closer ties with our established partners like the European Union.

Senator Sonny Angara has been in public service for 18 years—9 years as Representative of the Lone District of Aurora, and 9 as Senator. He has authored, co-authored, and sponsored more than 330 laws. He is currently serving his second term in the Senate.

E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

The political economy of social protection programs

eaGLe WatCH

iMPLEMEntors of social protection emphasize its relevance in mitigating risks, protecting the vulnerable, and promoting resilience of the citizenry through uncertain and crisis situations. the government’s commitment to social protection can also be gauged on what percentage of its population is covered by these programs.

The ILO World Social Protection Report of 2020-2022 notes that spending on social protection by countries varies significantly. On average, each nation spends 12.9 percent of its gross domestic product on social protection (excluding health); however, high-income countries spend 16.4 percent while lowincome countries only 1.1 percent of their GDP on social protection. Lower middle-income countries’ spending average is at 2.5 percent while the

higher middle-income countries’ average is 8 percent. The Philippine government spent only 2.7 percent of GDP for social protection last year (DBM, 2021).

Funding has always been an important issue in the politics of social protection and poverty reduction. Social welfare competes with the education and health portfolios in terms of the government’s general appropriation for social services. Of course, these services are comple-

mentary, and an optimal mix should be desired. At the same time, the whole range of social services needs to contend with economic services and national defense. This year, education’s share is 28 percent, health, 8.5 percent, defense, 7.9 percent, and economic services 29.3 percent.

The ILO estimates that currently, only 47 percent of the global population is effectively covered by at least one social protection benefit, while 4.1 billion people (53 percent) obtain no income security at all from their national social protection system. It also highlights significant regional inequalities in social protection. Europe and Central Asia have the highest rates of coverage, with 84 percent of people being covered by at least one benefit. The Americas are also above the global average, with 64.3 percent. Asia and the Pacific (44 percent), the Arab States (40 percent), and Africa (17.4 percent) have marked coverage gaps. In this same report, the Philippine coverage is only 36.7 percent.

ADB estimates are higher where the Philippines covers two-thirds of

its poor population in terms of its overall social assistance and social safety net programs, its two biggest social protection programs. It is well above the global average and only surpassed by India (95.6 percent), Vietnam (82 percent), Indonesia (79.1 percent), and Georgia (76 percent) in the Asian region.

There is also a long-standing debate between advocates of targeting and universality in terms of the coverage of social protection. Targeting, according to its promoters, is the more efficient alternative, especially for resource-constrained economies. Meanwhile, universal coverage gets support for those who believe that social protection is a basic human right, so everyone must have access to its programs. Multilateral institutions typically favor targeting for developing economies while human rights organizations are biased for universality. Dadap-Cantal et al. (2021) argue that the targeting system has failed to function according to its basic purpose of identifying the

Dr. Fernando t aldaba

rECEntLy, President Bongbong Marcos and his delegation left for Brussels, Belgium to attend the asean-Eu Commemorative summit. the said summit marks the first time that asean and Eu leaders met collectively in a single meeting.

Ukraine crisis solution needed

Critical population

LiTo GaGni

There is a need to craft a solution to the Ukraine crisis not just for the heightened threat on the food security of nations that has led to many of the poor scrounging for loaves of bread, but also to the greater possibility of arms destined for Kyiv being diverted to terrorist states and criminal gangs.

The “transfer” of arms from Ukraine to criminal gangs and terrorist states had long been documented by an American TV station, and a new credible voice on the diversion of weapons from Kyiv had just been aired by no less than the president of Nigeria, which clearly shows a new threat to global security.

Nigerian President Muhammadu Buhari during a summit of the Lake Chad Basin Commission on December 6 confirmed that the conflict in Ukraine serves as the main source of weapons for terrorists in the Lake Chad Basin region. “Regrettably, the situation in the Sahel and the raging war in Ukraine serve as major sources of weapons and fighters that bolster the ranks of the terrorists in the Lake Chad Region,” Buhari told the summit.

The Nigerian leader’s assertion, when juxtaposed with the speech of Russian Permanent Representative to the United Nations Vasily Nebenzia on December 9, focuses the spotlight on the global problem posed by what had been cited as “uncontrolled pumping of weapons” to Kyiv that lead to a possible destabilization of the European continent.

Nebenzia said that by increasing arms supplies to Kyiv, the West is signing its desire to further escalate the conflict, as well as to destabilize the situation on the European continent. Russia’s UN representative ticked off facts detailing the diversion of weapons from Ukraine to terrorist states and criminal gangs, details that have long ago been established early in the Ukraine crisis.

According to the Russian representative, there are many facts confirming that Western weapons destined for Ukraine are increasingly falling into the hands of bandits and terrorists of various stripes, not only in Europe but also in the Middle East and Africa.

He said that transnational criminal groups are involved in smuggling and money laundering, and officials of arms-dispatching states are clearly involved. This problem poses a real threat to international peace and security and deserves a targeted

UN attention, a fact Russia has been trying to put on the table for the UN Security Council to discuss via a special meeting.

There have also been reports that weapons supplied to Ukraine by Western countries appeared on the black markets of Europe and Africa. Reports too have filtered out that in the Nordic countries, Finnish weapons, previously transferred to Kyiv, were also seen on illegal trading platforms. The diversion of weapons had also been documented.

We understand that an active militant of the Armed Forces of Ukraine (AFU), in an interview with Izvestia on November 30, said that Ukrainian generals sell Western weapons to the black market through the darknet. Ukrainian nationalists were said to have taken out Nato weapons from warehouses for sale, after which they destroyed buildings, imitating a blow from the Russian Federation.

Clearly, there is a need to seek a solution to the Ukraine crisis for the threat it is posing to the territorial integrity of nations. The fact that the modern weapons that could incinerate vast tracts of land and even demolish buildings and infrastructures are now falling into the hands of terrorists and criminals should serve as an “incentive” to ending the crisis.

Prolonging the war poses an existential threat to other nations as modern weapons get diverted and this alone should be enough to make Western leaders rethink their positions. A voice from Africa has already decried the proliferation of arms in the Chad region, which means that the continent may soon get embroiled in new uprisings and civil strifes, thanks to the weapons for Kyiv getting “transferred” and sold over the darknet.

A way out of the Ukraine crisis is very much needed. After all, the West cannot escape responsibility for Russia’s march into Kyiv having torpedoed the peace initiatives that were first agreed upon in the Minsk 1 and the subsequent Minsk 2 agreements plus, of course, the threat that NATO had posed to Russia then that provoked Russian leader Vladimir Putin to send his troops to Kyiv.

poor and providing them social protection in the case of the Pantawid Pamilyang Pilipino Program. This is partly because of the increasingly obsolescent data of Listahanan, the official registry. According to the authors, the system, which is unable to update the data regularly, has covered only about 17 percent of the targeted households in 2020. The government, though, asserts that the program was able to reach 4.2 million poor families in the same year—already about 90 percent of the total poor families in the country. These contrasting contentions and statistics have been an important aspect of the politics of social protection in the economy. One promising development in terms of the delivery of social protection programs is the potential use of the National ID System in enrolment and payment platforms and in the promotion of financial inclusion among beneficiaries. India’s Aadhaar scheme, a national initiative using biometric information to allocate unique identification numbers to Indian residents, has registered over

1.2 billion people and expanded access to basic identification, improved enrolment in social protection and financial inclusion programs, control leakages, decrease corruption, and address other limitations in India’s social protection architecture. There is much to be learned from this digital ID scheme’s efforts to create a more inclusive social protection system. Nevertheless, there have been some snags in the implementation of the Philippine National ID, as the actual production of the physical ID is very much delayed.

A key aspect of social protection is to know the actual needs and priorities of its target beneficiaries. Thus, the poor and marginalized sectors should have a voice in the design of major government social protection programs. While many marginalized sectors are represented in the National Anti-Poverty Commission, there should also be a specific mechanism or venue for the vulnerable sectors to assist government in the design, prioritization and implementation of social protection programs.

Dr. Fernando T. Aldaba is Professor of Economics and former Dean of the School of Social Sciences at Ateneo de Manila University.

Are we the right survivors?

Tito Genova Valiente

annoTaTions

It is almost the end of the year. Feasts of all kinds have been back. Christmas is sure to be with us when that day comes. When was it that even the most important rituals and processions were canceled and, in their place, some kind of prayers were imposed?

The cynics were right to declare that plagues, though always seen as a curse from heaven, could stop traditions even if these practices were originally meant to appease the gods or some such beings.

Now that we are seemingly out of the woods, and we have counted those who were not lucky enough to live through the two or three years of the pandemic, we look around us. The wonderment is there as we ask if this is the population that will see through the world in the next century or even less than that.

In the late ’60s and ’70s, when government and resource experts were into population control, diseases and wars were viewed with such morbid expectations. Are there natural causes that could bring down population with optimal results? But when everyone was dying in 2020 and well into 2021, was there a voice to thank the virus for providing a “solution?”

In the book Islands of Abandonment (a book that is intriguing me no less for its prose as well as its predictions), its author, Cal Flyn, cites a “grassroots campaign group” called Extinction Rebellion. The group, according to Flyn, saw itself distancing from one of its regional chapters that put out a view “celebrating the deaths of coronavirus victims.” On social media, their flyers read, “Corona is the cure” and “Humans are the disease.”

Contrary to said positions, what really happened during the pandemic was the rebirth of care

for others, a deep concern for the neighbors. If we go back to those years, human beings in all parts of the globe wore humanity on their sleeves. We were sterling people. “Be kind to one another.” “We only have each other.” These and more statements bannered what

Bendell, following Flyn, speaks of a near future where we will witness “mass starvation, disease, flooding, storm destruction, forced migration and war.” These are all in our country at present, except, perhaps, widespread hunger.

The question is not whether this collapse of civilization as we know it will happen. The question, as Flyn quotes Bendell, is “Where and when will the collapse or catastrophe begin?” For Flyn, she says, “I too cannot help but imagine a rapture sweeping the globe; starting perhaps from the low-lying land and washing inward; settlements collapsing in its wake, survivors clinging to the ruins, to the shallow facsimiles of contemporary culture.”

Referring to the recent pandemic, Cal Flyn in her book, Island of Abandonment, states how “the appeal of disanthropic thinking…lies in the notion that a crash in the number of humans might present an opportunity akin to pressing a reset button.”

$1,000 allowance is offered to those willing to “die properly” and, though this is not expressed directly, to sacrifice once more so that the nation lives on.

Cinematic may be the presentation of the problem of old age but the piece speaks about how societies deal with this aspect of our population. Who needs old people? In Japan, there has been a pressing concern that the young workers in corporations as well as in government organizations are supporting the aged in caregiving facilities, or health benefits. Absent already in this discourse is the fact that the old men and women at present composed the generations that selflessly supported the growth of Japan in its industrialization.

Philippine society has not reached this extreme point in delineating survival by directly addressing generations. Our program has been clear about birth control but never about old people control.

Bendell, from the same book, Island of Abandonment, has a term called “deep adaptation,” which is the need to accept the collapse of human civilization. From our end, especially through discourse influenced by the Christian, i.e., Catholic, religion, there is no need to call for this acceptance. We do not have what Flyn terms the “terror of the eschaton,” or the anxiety about the literal “dawning of a new day,” of that moment before the end of the world. We look forward to that because the Bible has taught us about that day as salvation.

we felt amidst deaths coming easy to families; and with no solutions readily in sight.

This view, however, of the bleak future for the human group, has always been there, long before the coronavirus pandemic.

Flyn mentions under the chapter on The Deluge and the Desert an academic, Professor Jem Bendell of the University of Cumbria, and his “darkly prophetic writings’’ about “climate-induced societal collapse.”

Can we start again? Or restart again as humanity?

There is a film showing now in cinemas (my review of the said film appears on the same date as this column, under Life). It is called Plan 75. The title refers to the age, 75, that will allow any old Japanese man or woman to enroll in this project. There are orientations and flyers from the government to induce the population to join the program, which is really a government-sponsored way to die. A

Or, maybe I am wrong.

Postscript. In the debate about population control, economists come up with models about survival and carrying capacity of the world. In the ’70s, caught up in this discourse, I came across a document succinctly posing this question: when you decide what to control, have you ever thought that maybe you are the one not needed to live in this world?

E-mail: titovaliente@yahoo.com

FTX founder charged in scheme to defraud crypto investors

By Ken Sweet & Fatima Hussein | AP Business Writer

NeW YOrK—The US government charged Samuel Bankman-Fried, the founder and former CeO of cryptocurrency exchange FTX, with a host of financial crimes on Tuesday, alleging he intentionally deceived customers and investors to enrich himself and others, while playing a central role in the company’s multibillion-dollar collapse.

Federal prosecutors said Bankman-Fried devised “a scheme and artifice to defraud” FTX’s customers and investors beginning in 2019, the year it was founded. He illegally diverted their money to cover expenses, debts and risky trades at the crypto hedge fund he started in 2017, Alameda Research, and to make lavish real estate purchases and large political donations, prosecutors said in a 13-page indictment.

Bankman-Fried, 30, was arrested Monday in the Bahamas at the request of the US government, and remains in custody after being denied bail.

He has been charged with eight criminal violations, ranging from wire fraud to money laundering to conspiracy to commit fraud. If convicted of all the charges, Bankman-Fried—referred to by crypto enthusiasts as “SBF”—could face decades in jail.

At a news conference on Tuesday, US Attorney Damian Williams in New York called it “one of the biggest frauds in American history,” and said the investigation is ongoing and fast-moving.

Bankman-Fried has fallen hard and fast from the top of the cryptocurrency industry he helped to evangelize. FTX filed for bankruptcy on Nov. 11, when it ran out of money after the cryptocurrency equivalent of a bank run.

Before the bankruptcy, he was considered by many in Washington and on Wall Street as a wunderkind of digital currencies, someone who could help take them mainstream, in

part by working with policymakers to bring more oversight and trust to the industry.

Bankman-Fried had been worth tens of billions of dollars—at least on paper—and was able to attract celebrities like Tom Brady or former politicians like Tony Blair and Bill Clinton to his conferences at luxury resorts in the Bahamas. One prominent Silicon Valley firm, Sequoia Capital, invested hundreds of millions of dollars in FTX.

Sporting shorts and t-shirts to contrast himself with the buttoneddown world of Wall Street, he was the subject of fawning media profiles, a vocal advocate for a type of charitable giving known as “effective altruism,” and garnered millions of Twitter followers.

But since FTX’s implosion, Bankman-Fried and his company have been likened to other disgraced financiers and companies, such as Bernie Madoff and Enron.

The criminal indictment against Bankman-Fried and “others” at FTX is on top of civil charges announced Tuesday by the Securities and Exchange Commission and the Commodity Futures Trading Commission. The SEC alleges Bankman-Fried defrauded FTX customers by making loans to himself and other FTX executives, and illegally using investors’ money to buy real estate for himself and his family.

No other FTX executives were named in the indictment, nor was the CEO of Alameda Research, Caroline Ellison. Also not named in the

indictment: Bankman-Fried’s father, Joseph Bankman, a Stanford University law professor who was considered an adviser to his son.

US authorities said they will try to claw back any of Bankman-Fried’s financial gains from the alleged scheme.

A lawyer for Bankman-Fried, Mark S. Cohen, said Tuesday he is “reviewing the charges with his legal team and considering all of his legal options.”

At a congressional hearing Tuesday that was scheduled before Bankman-Fried’s arrest, the new CEO brought in to steer FTX through its bankruptcy proceedings leveled harsh criticism. He said there was scant oversight of customers’ money and “very few rules” about how their funds could be used.

John Ray III told members of the House Financial Services Committee that the collapse of FTX, resulting in the loss of more than $7 billion, was the culmination of months, or even years, of bad decisions and poor financial controls.

“This is not something that happened overnight or in a context of a week,” he said.

He added: “This is just plain, oldfashioned embezzlement, taking money from others and using it for your own purposes.”

Before his arrest, Bankman-Fried had been holed up in his luxury compound in the Bahamas. US authorities are expected to request his extradition to the US.

Bankman-Fried was denied bail at a court hearing in the Bahamas on Tuesday after prosecutors argued he was a flight risk, according to Our News, a broadcast news company based there. He will remain in custody at the Bahamas department of corrections until Feb. 8, Our News reported.

Bankman-Fried’s was previously one of the world’s wealthiest people on paper; at one point his net worth

reached $26.5 billion, according to Forbes. He was a prominent personality in Washington, donating millions of dollars to Democrats and Republicans. US Attorney Williams said Tuesday that Bankman-Fried made “tens of millions of dollars” in illegal campaign donations.

His wealth unraveled quickly last month, when reports called into question the strength of FTX’s balance sheet. As customers sought to withdraw billions of dollars, FTX could not satisfy the requests: their money was gone.

“We allege that Sam BankmanFried built a house of cards on a foundation of deception while telling investors that it was one of the safest buildings in crypto,” said SEC Chair Gary Gensler.

The SEC complaint alleges that Bankman-Fried had raised more than $1.8 billion from investors since May 2019 by promoting FTX as a safe, responsible platform for trading crypto assets.

Instead, the complaint says, Bankman-Fried diverted customers’ funds to Alameda Research without telling them.

“He then used Alameda as his personal piggy bank to buy luxury condominiums, support political campaigns, and make private investments, among other uses,” the complaint reads.

In the weeks after FTX’s collapse, but before his arrest, Bankman-Fried gave interviews to several news organizations in which he grasped for ways to explain what happened.

For example, Bankman-Fried said he did not “knowingly” misuse customers’ funds, and that he believes angry customers will eventually get their money back.

At Tuesday’s congressional hearing, the new FTX CEO bluntly disputed those assertions: “We will never get all these assets back,” Ray said. Hussein contributed to this report from Washington

FAB URGES CAUTION IN NEW FISH IMPORT RULES

THE Fisheries and Aquaculture Board of the Philippines (FAB) bucked the government’s new rules on frozen fish imports, warning that the tighter regulations would drive food prices to accelerate faster due to possible supply disruptions.

FAB Chair Chingling Tanco said the Department of Agriculture’s (DA) Administrative Circular 11 series of 2022, which tightened import rules on frozen fish used by industrial users, processors and canners, imposes “additional” constraints on the country’s seafood trade.

“ There are some points that need clarification. This will result in additional disruptions and uncertainties,” Tanco said in a recent statement.

“ It will stoke inflation, especially among small carinderias that serve the pampanos and galunggongs, tuna panga and byproducts,” she added.

Tanco warned that Filipino consumers face the possibility of being unable to afford certain seafood items in the market in the future due to the consequences of AC 11.

“ Eventually, as seen from experience over the high price of

[galunggong], consumers will no longer be able to afford these items from wet markets,” she said.

E arlier this week, Manila suspended the issuance of import clearances to institutional buyers, processors, and canners for certain frozen fish products as the government tightens its regulations on fish imports. (Related story: https://businessmirror com.ph/2022/12/15/phl-suspends-issuance-of-spsics-forfrozen-fish/)

However, the national government would still allow certain institutional buyers and processors to import fish products as long as they comply with the additional regulatory requirements.

T he DA issued AC 11 that suspended the issuance of sanitary and phytosanitary import clearances (SPSICs) for roundscad, bonito, mackerel, moonfish, pampano and tuna.

T he issuance of SPSIC is required prior to any food importation, as it certifies that the inbound shipments are safe for human consumption and do not pose any threat to the local animal health population.

Continued on A5

Grand New Year’s Eve bash seen to lure Boracay tourists

THE Department of Environment and Natural Resources (DENR) has cleared the way for an explosive New Year’s Eve celebration on Boracay Island, acclaimed by international travel publications among the best islands in the world.

Local resort owners hope the fireworks-filled New Year’s Eve celebration would further boost its tourist arrivals, which stood at some 1.64 million from January to December 10, 2022. Data from Department of Tourism-Region 6 (Western Visayas) showed, of the total, 111,488 were foreign tourists while 33,675 were overseas Filipinos. Most of the tourists, at 36 percent, arrived from the National Capital Region; 280,698 were from Region 6; and 270,476 from 4-A (Calabarzon).

Meanwhile, DOT-Region 6 will be sending personnel to the Caticlan port, after it was revealed that a P100-travel insurance was being forcibly collected from tourists before they were allowed to travel to the island

Designated areas

IN a letter dated December 13, 2022 to Malay Mayor Frolibar Bau -

tista, DENR-6 Regional Executive Director Livino Duran specified conditions for the community fireworks in Boracay: “That it should be located at least 100 meters from the coastline...and not within the front beach area; That it should only use pyrotechnics duly allowed by the Philippine National Police; [and] That cleanup and sweeping shall be conducted after the community fireworks activity to ensure that no remaining debris shall clutter the area.”

D uran said his office will monitor the air quality during the activity to ensure the island remains pollution-free.

Six areas were identified as locations for the community fireworks: Punta Bunga, and in front of Discovery Shores, Astoria Station 1, Regency Hotel, Paradise Garden Hotel, Villa Caemilla, and Bulabog Beach/Aqua Boracay/7 Stones Ho -

tel, and New Coast Boracay.

T he last New Year’s Eve celebration with pyrotechnics on the island was in 2018.

T he Duterte-created Boracay Inter-Agency Task Force prohibited the use of fireworks at any time of the year due to air pollution concerns, even when the island was reopened after a six-month closure, supposedly to give way to its rehabilitation.

Boracay Foundation Inc., the oldest group of resorts stakeholders on the island welcomed the decision of the DENR. Its chair Dindo Salazar told the BusinessMirror in Filipino, “Whichever resort has the resources to mount a fireworks display, it can do so. It was the same as before, resorts solely spent for the fireworks celebration. The only difference now is that there are identified areas. But I think, those areas which were not designated can send a letter of intent to the mayor.”

Complaints on insurance fee

AS this developed, DOT-6 Regional Director Cristine Mansinares told this paper,  “I’ll deploy DOT staff there,” to ensure travel insurance was not being forcibly collected from tourists.  A number of them have griped to friends on the island that they were already being

charged the fee, while booking their hotel accommodations. One island resident shared, “I have the receipts” as proof of  payments.

Accredited insurers

DESPITE the insurance offer, Boracay only has two hospitals, both of which are not Level-3 institutions, however. For high-level emergencies and surgical interventions, patients have to travel to Kalibo, three hours away from Caticlan.

Mansinares said the Malay local government unit has accredited Dragon Gem to sell the travel insurance products to tourists, from the following insurers: Sterling Insurance Co. Inc., Cocogen Insurance Inc., Liberty Insurance Corp., and Bethel General Insurance and Surety Corp.

N ational tourism stakeholders’ organizations have decried the new insurance fee, as being an additional burden to their clients, when the latter already pay other fees for their stay in Boracay. Aside from the insurance fee, tourists also pay an environmental fee of P150 (foreigners P300), a terminal fee of P150, and boat transfers of P50 per head—for a total of P450. (See, “New insurance rule for Boracay visitors,” in the BusinessMirror ) Ma. Stella F. Arnaldo

Meralco, Aboitiz sign deal for 300-MW power supply

By Lenie Lectura @llectura

The Manila electric Co. (Meralco) inked an emergency power supply agreement (ePSA) with GNPower Dinginin Ltd. of the Aboitiz Group for the supply of 300-MW baseload capacity starting December 15 until January 25, 2023.

This will partially replace the 670 MW capacity under Meralco’s power supply agreement with south premiere power Corp. (sppC), which was subjected to a Temporary Restraining order (TRo) issued by the Court of Appeals.

The EpsA , which has a rate of p5.96 per kWh, will lessen Meralco’s

exposure to the Wholesale Electricity spot Market (WEsM) and, in turn, partly shield its customers from volatile and potentially higher generation costs.

Meralco said it is exhausting all measures to continue supplying its customers with sufficient and reliable power, while mitigating the

impact of the TRo on its customers.

The utility firm earlier issued a notice of claim against spp C to cover the additional costs it has been incurring as a result of the 60-day TRo on their po wer supply Agreement ( p s A ).

since the cessation of supply last December 7, Meralco has been sourcing the 670 MW contract capacity from WEsM

In its letter dated December 12, 2022, Meralco asked sppC to pay the price difference between the contract price and the WEsM price, to which Meralco would be exposed during the effectivity of the TRo

T he claims, Meralco added, will be on top of all applicable fines, penalties, and liquidated damages under the p s A in the event that the Court of Appeals eventually resolves the main case and denies the pe tition of spp C

Meralco said it expects electric-

ity sales this year to grow by close to 6 percent year-on-year due to the strong recovery of the ph ilippine economy.

“We are looking at close to 6-percent gigawatt [GWh] sales growth for the year 2022 compared to 2021, and this actually also 4 percent higher than 2019 numbers,” said Meralco Chief Commercial o f ficer Ferdinand Geluz.

He said the main drivers of the projected growth could be attributed to the strong commercial segment. “The rebound of the strong commercial segment as well as modest growth in industrial sector driven by some industries such as plant, F&B [food and beverage] really gave a boost.”

The utility firm earlier reported that as of end-september this year, sales volumes increased by 6 percent to 36,553 GWh from 34,398 GWh in the same period last year.

Upson income up 68% in Jan-Sept

By VG Cabuag @villygc

Upson International Corp., a retailer of personal computers and information technology products, said its net income for the three quarters of the year rose 68 percent to p400.23 million from the previous year’s p237.38 million.

Upson, which has combined network of more than 200 branches nationwide, with their retail brands octagon, Micro Valley, Gadget King, said it had net sales of p7.03 billion, 10 percent higher than the p6.38 billion in net sales recorded in the same period of 2021.

Higher sales volumes and more efficient operations accounted for

the strong growth, the company said.

Upson p resident and CEo Arlene sy said the retail market was challenged by the significant loss of foot traffic caused by the pandemic.

However, the long periods of immobility prompted the market to adapt by implementing various arrangements, which include online learning and work-from-home set-ups.

“Amid an industrywide shortage of supply, Upson still recorded revenue growths of 5.15 percent and 7.66 percent in 2021 and 2020, respectively,” sy said.

To date, Upson carries over 13,000 p C and IT products, some of which are exclusively sold by its stores. o v er the years, the company has been named top dis-

tributor, dealer of the year, retail partner of the year, and top national sales by its long-standing suppliers such as Acer, Asus, Epson, H p and s e agate.

“We are thankful for our loyal customers who continuously patronize our products. I also commend the entire Upson family for their efficient and diligent work, which empowered us to keep growing,” sy said.

“Upson is committed to assist our country towards technology and digitalization. our roll out plan is to add 250 more branches over the next 3 to 5 years. We shall continue to provide authentic, untampered and high-quality pCs and IT products for all Filipinos up to the farthest possible corners of our country.”

NLE x Corp. said on Thursday it has partnered with several firms to set up truck scales to comply with the 33-ton weight limit at the Candaba Viaduct southbound amid the ongoing repairs.

In a media advisory, n lex said truckers entering the north Luzon Expressway (n lex) may now use the Tag Megtal Weighbridge, the Clark Development Corp. Weighbridge, and the subic Bay International Terminal Corp. (sBITC) Weighbridge.

The weighbridge in TAG Metal in Mabalacat is open to all trucks from Monday to saturday, between 4:00 a.m. and 10:00 p.m.

The CDC Weighbridge is free and exclusive for Clark locators from Monday to Friday except holidays,

PNOC EC seeking partners for Palawan exploration program

Pno C Exploration Corp. ( p no C EC) is soliciting bid offers to pursue a joint exploration program in offshore p a lawan, west of Balabac Island.

In a bid invite, p no C EC said it is in search of joint venture partners to pursue s e rvice Contract (s C ) 59. p no C EC holds 100 percent interest in the service contract, which was awarded by the Department of Energy (D o E ) on s e ptember 15, 2005.

“ p u rsuant to Executive o r der n o. 80 s. 2019 and its implementing rules and regulations under D o E Department Circular n o DC2020-02-0006, p no C EC now calls for the submission of Letter of Intent (L01) from Interested p a rties to participate in the selection of a Joint Venture o p erator for the 75 percent p a rticipating Interest in s e rvice Contract 59,” the bid invite read.

Interested bidders have until December 27 to submit their letter of interest (L o I ), and secure the Farm-out Documents and Confidentiality Agreement. o n ly those that signified interest and signed confidentiality

agreements shall be allowed to conduct due diligence on s C 59. Deadline for submission of proposals is on February 10, 2023 at 12 noon.

“ p no C EC reserves the right to accept or reject any proposals and to annul the farm-out process at any time prior to contract award, without thereby incurring any liability to the affected Third- p a rty p a rticipants.”

p no C EC holds interest in a number of s C s and three coal operating contracts (C o C s).

It holds operatorship and 100-percent interest in s C 37 Cagayan in Cagayan Basin, s C 5 7 Calamian and s C 59 West Balabac.

For s C 59 West Balabac, p no C E C has completed studies on prospective shallow water prospect which includes feasibility and economic viability. The company earlier said it was planning to drill for a deepwater prospect in the area.

s C 59 was awarded to p no C E C in 2006 and it covers an area of 14,760 square kilometers.

while the sBITC Weighbridge is only available for sBITC clients and fee is included in the tariff.

“This initiative aims to ease the day-to-day operations of manufacturing and industrial companies and address the concerns of stakeholders in the business sector who are affected by the restrictions at the Candaba Viaduct while ensuring everyone’s safety,” n lex Corp. said.

It also aims to reduce overloading incidences and protect roads from damage but will also enhance efficiency and easier movement of cargoes by bringing the weighing activity closer to the source.

Instead of lining up at n lex-sctex interchanges, trucks can be weighed

closer to their respective bases and if ever they go beyond the weight limit, they can easily go back and adjust their load.

Aside from the existing stations, n lex Corp. said it is looking for additional weighbridge sites.

The weight limit on the Candaba Viaduct stemmed from the study conducted by nLE x ’s engineering consultant, AMH philippines, citing aging, fatigue, and continuous heavy loads as causes of the structural defects of the bridge.

The five-kilometer bridge has been serving as a vital transport link, enabling the efficient delivery of goods and services between Metro Manila and the provinces in Central and north Luzon. Lorenz S. Marasigan

Lenie Lectura

SBC gathers awards for CSR, investor relations

By VG Cabuag @villygc

SECURITY Bank Corp. announced it was recognized by the Corporate Governance Asia quarterly magazine at the “12th Asian Excellence Awards” organized by its publisher New Initiative Media Ltd. for the lender’s various investor relations and corporate social responsibility (CSR) Initiatives.

The Hong Kong-based publication awarded the mid-sized bank with the “Asia’s Best CSR Award” and “Asia’s Best Investor Relations Company Award” for its excellence in promoting inclusive development in the Philippines and uplifting the quality of investor relations in the country.

“Security Bank recognizes the important role financial institutions play in nation-building and sustainable development. It acknowledges that environmental and social risks that arise from its activities and those of its customers significantly impact its operations…it aims to manage these risks appropriately by providing value-adding products and services, acting responsibly and supporting worthwhile advocacies,” the publication said.

Apart from the institutional awards, the publication also recognized three of the bank’s senior executives for their excellence in leadership and investor relations: Security Bank President and CEO Sanjiv Vohra as “Asia’s Best CEO for Investor Relations;” Chief Financial Officer Eduardo M. Olbes as “Asia’s Best CFO for Investor Relations;” and, First Vice President and Investor Relations Head Ropi F. Dangazo as “Best Investor Relations Professional in the Philippines.”

According to Corporate Governance Asia: “the bank has established enduring relationships with its investors through its investor relations program which has produced consistent and timely public disclosure of all material information.”

“The bank’s numerous communication tools have enabled it to provide investors with strategic operating and financial information, in particular, its comprehensive disclosure to regulatory authorities such as the Securities and Exchange Commission and the Philippine Stock Exchange,” the publication said.

The “Asian Excellence Awards” recognizes achievements and excellence in management acumen, financial performance, corporate social responsibility, environmental practices and investor relations of companies and business executives based in Asia.

“We are very proud to be consistently recognized by Corporate Governance Asia as an organization that successfully combines profitability, environmental responsibility, strong communications and innovation,” Vohra said. “At Security Bank, we’ll continue to delight customers and create value at every interaction with compelling value propositions and meaningful customer journeys. We remain focused on our mission to enrich lives, empower businesses and build communities sustainably through financial excellence.”

Banking&Finance

Financing-small biz bill gets House OK

By Jovee Marie N. dela Cruz @joveemarie

THE House of Representatives on Thursday approved on third and final reading a bill providing financing for small businesses, especially those crippled by the coronavirus disease-19 (Covid-19) pandemic and other significant economic challenges of national and international scope.

An overwhelming 282 votes of aye were given to House Bill 1, the “Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery, or “Guide,” Act.

The legislation seeks to provide financial assistance to distressed enterprises critical to economic recovery. The assistance would come via programs and initiatives by the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) to address liquidity or solvency problems of micro-scale, small-sized and medium-scale en-

terprises (MSMEs) and strategicallyimportant industries, among others.

The assistance is expected to encourage the continued operations and maintain employment levels of these businesses.

The bill also expands the loan assistance programs, rediscounting and other credit accommodation facilities of LBP, DBP, the Small Business Corp. and the Agriculture Credit Policy Council (DA-ACPC).

MSMEs

HB 1 also identifies sectors and intended beneficiaries of various

The Association CEO as a ‘VIP’

THE Chief Executive Officer is the highest-ranking officer in charge of the overall management of an organization. In the association context, the CEO title varies (President, Executive Director or Secretary General).

Based on my experience working with associations for over 30 years, I have learned at least six essential traits an association chief executive should possess. I collectively put these into the acronym, VIP CEO.

V: Visionary. A visionary CEO has a clear picture of how they envision the future of the organization. They set concrete steps to plan and execute the vision and lead the organization toward accomplishing these. For this to happen, the CEO must have a thorough understanding of and immersion with the purpose and culture of the association. Having a vision connotes continuity and long-term sustainability.

I: Inspirational. An inspirational CEO has a deep sense of values and responsibilities to create and effect a positive change. They are innovative and forward-thinking and dedicate their time and energy to the cause of the organization and to the welfare of its people. By being such, they also inspire others to be involved and contribute to the success of the association.

P: Passionate. A passionate CEO has strong beliefs and emotions of the organization and is always focused on what it can be, not only on what it is at the moment. They are constantly chasing the “next big thing” with the resolute belief of achieving it. They are a great communicator and listen genuinely to others to understand their needs and aspirations. Being passionate spreads excitement through the organization.

C: Courageous. A courageous CEO has the mental strength and moral for-

titude to navigate, persevere and withstand any crisis or difficulty. They are also not afraid to make bold decisions as well as to seek out unfiltered feedback from those around them. Being brave during this pandemic has been a high point of most association CEOs who have weathered the challenges of the time.

E: Energetic. An energetic CEO shows vitality and enthusiasm, both physically and mentally. They are also fun-loving and sociable and are comfortable meeting new people, visiting new places and having new experiences. In doing so, they entice others to be energetic, too.

O: Open-minded. An open-minded CEO welcomes new ideas, arguments and information even if these do not necessarily align with what they are thinking. In short, they are open to learning from others and are willing to balance ideas with those of others. This breeds cohesion, creativity and innovation within the organization.

These attributes of an association CEO are not the “be-all and end-all” factors in leading the organization to stay ahead. At best, these are considerably robust enough to make an impact.

Octavio Peralta is currently the executive director of the UN Global Compact Network Philippines and founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” E-mail: bobby@ pcaae.org.

credit facilities, as follows: for LBP, players engaged in activities in the agribusiness value chain; and, for the DBP, eligible MSMEs engaged in infrastructure, services, service industry and/or manufacturing business.

The bill defines MSMEs as “any business activity or enterprise engaged in industry, agribusiness and/ or services, whether single proprietorship, cooperative, partnership or corporation whose total assets, inclusive of those arising from loans but exclusive of the land on which the particular business entity’s office, plant and equipment are situated.”

These assets must have value falling under the following categories: not more than P3 million for microscale enterprises; P3 million to P15 million for small-scale businesses; and, P15 million to P100 million for medium-sized enterprises.

LBP would be mandated to rediscount loans to eligible MSMEs.

The proposed law appropriates the amount of P10 billion for the expanded lending program: P2.5 billion for DPB and P7.5 billion for Land Bank.

HB 1 also increases DBP’s capital stock from P35 billion to P100 billion divided into one billion shares of P100 each to be fully subscribed

by the national government.

The President may increase the bank’s capitalization upon recommendation of its board and the concurrence of the secretary of finance, the bill reads.

Exemptions

THE bill mandates the LBP and DBP to create a special holding company that would reinvigorate strategically-important companies experiencing liquidity issues due to significant economic challenges of national or international scope. These businesses were identified as belonging to the agriculture, infrastructure, services and manufacturing industries.

It also grants incentives and exemption privileges to the LBP, the DBP and the special holding company. These entities would be exempted from paying documentary stamp tax, capital gains tax, creditable withholding income tax, value-added tax, gross receipts tax and other taxes imposed under Republic Act (RA) 8424, or the National Internal Revenue Code of 1997 (as amended), for a period of three years.

The bill also grants these institutions exemption from RA 9184 (Government Procurement Reform Act) for mandate-related procurements for a period of three years.

They would also be granted exemption from RA 10149 (GOCC Governance Act of 2011) and RA 10667 (Philippine Competition Act) for a period of three years for the acquisitions of the assets of an investee company.

“Thus, it is essential that these enterprises are given necessary access to credit and financial assistance,” the measure states. “It is hereby declared the policy of the State to protect employment and assist distressed enterprises to reinvigorate the economy.”

Oversight

THE measure creates a joint congressional oversight committee composed of five House members and five senators to oversee its implementation.

The Department of Finance, together with LBP, DBP, Bureau of Internal Revenue, Bangko Sentral ng Pilipinas and the Securities and Exchange Commission, would be mandated to issue implementing rules and regulations.

Speaker Martin G. Romualdez’s original co-authors of the proposed Guide Act were Senior Majority Leader and Ilocos Norte Rep. Ferdinand Alexander A. Marcos and Reps. Yedda Marie K. Romualdez and Jude A. Acidre of Tingog Party-list.

HDMF kicks off ‘Virtual Pag-IBIG Mobile App’

THE Home Development Mutual Fund (HDMF) announced it officially launched the “Virtual Pag-IBIG Mobile App” to bring its services closer to members as it marked its 42nd anniversary last Wednesday.

President Ferdinand R. Marcos Jr. recognized Pag-IBIG Fund’s accomplishments over the years and welcomed the launch of its official mobile app through a recorded message for the agency.

“Through the years, the Pag-IBIG Fund has stayed true to its goal to realize the dreams of millions of Filipinos by providing secure savings programs and dependable and affordable housing loans,” said Marcos.

“Today, we also welcome the launching of the ‘Virtual Pag-IBIG Mobile Application.’ The app will bring Pag-IBIG Fund’s services and benefits closer to every Filipino,” the president added. “In line with the unwavering commitment of this administration to digitize and streamline our services, be assured

that this administration is committed to support you as you implement housing and development programs and initiatives.”

Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development (DHSUD), who also heads the 11-member Pag-IBIG Fund Board of Trustees, meanwhile, assured members that Pag-IBIG Fund will continue to make use of information technology to improve its processes and services.

“I congratulate the Pag-IBIG Fund for launching the Virtual Pag-IBIG Mobile App. This service innovation will significantly help in providing social benefits to our fellow Filipinos, in line with the call of President Marcos to maximize the use of information technology in the delivery of public service,” Acuzar stated.

Pag-IBIG Fund CEO Marilene C. Acosta demonstrated the service features and the user-friendly interface of the agency’s mobile app during the launch.

“With the Virtual Pag-IBIG Mobile App, our members can now get their Pag-IBIG Membership ID number, view the status of their housing or short-term loans, make online payments and create a Virtual Pag-IBIG account by using just their smartphones. Plus, once our members have their own Virtual Pag-IBIG accounts, they can also view their savings and annual dividends, the balance and due dates of their loans, as well as their payment records,” A costa said. “And, we shall add even more features to the mobile app over the coming months. With the Virtual Pag-IBIG Mobile App, we are literally bringing our services to the palm of each members’ hand.”

The Virtual Pag-IBIG Mobile App is available for download via the Apple Store and Google Play. The mobile app has been downloaded by more than 750,000 users since its beta version was made available in August this year.

SSS launches WISP Plus, its newest retirement savings scheme for members

THE Social Security System (SSS) announced it is introducing the “Worker’s Investment and Savings Program,” or WISP, Plus, its newest retirement savings scheme for SSS members.

SSS President and Chief Executive Officer Michael G. Regino explained during a news briefing that WISP Plus is a voluntary retirement savings program offered exclusively to SSS members in addition to its regular social security program.

“We have been spearheading the concept of work, save, invest and prosper to our members,” Regino said. “WISP Plus is a program both for saving and investing. It is an affordable and tax-free savings scheme

which will allow our members to save by contributing to the program and invest because their money will generate earnings.”

The SSS Chief further elaborated that WISP Plus serves as an additional layer of social-security protection apart from the retirement benefits that they will receive from the regular SSS program until their retirement.

“For as low as P500 per payment, SSS members can already contribute to the WISP Plus and pay their contribution anytime,” said Regino. “We offer our members investment earnings based on rates higher than those provided by banks.”

WISP Plus would cater to all SSS

members, regardless of their membership type, declared monthly earnings and last posted monthly salary credit (MSC).

Easy enrollment

THE current WISP is another provident fund program, which is compulsory for SSS members who are contributing to the regular program under the MSC that exceeds P20,000.

It was mandatorily implemented in January 2021 as part of the amendment in the Social Security Law (Republic Act 11199) last 2018.

Interested SSS members could join WISP Plus by accepting the terms and conditions of the program using their My.SSS account. They can

only apply for WISP Plus once and membership in the program has no expiration.

Moreover, they should not have filed any final benefit claim, such as retirement or total disability benefits, to qualify for the program.

Regino added that individuals who applied for their SS number online through the SSS website could easily enroll in the program after receiving their respective SS numbers.

At present, SSS is already implementing two voluntary provident fund programs—the Flexi-fund Program for Overseas Filipino Workers residing overseas and the Personal Equity and Savings Option, or PESO,

Fund offered to members living in the Philippines and paying the maximum monthly contributions. The two programs will eventually be part of the WISP Plus.

New contribution rate

MEANWHILE, Regino also announced during the briefing that starting January 1, 2023, the new SSS contribution rate will be 14 percent, a 1-percentage point increase from the current 13 percent. This is part of the implementation of the Social Security Act of 2018 and this will also be advantageous to the SSS members in the form of higher benefits.

For employed members, their em-

ployers will shoulder the 1 percent increase in the contribution rate.

On the other hand, individual paying members, such as self-employed, voluntary, non-working spouse and OFW members, will shoulder the whole contribution rate since they have no employers.

He also noted that at the same time, SSS will adjust the minimum and maximum monthly salary credits (MSCs), which will serve as the basis for the monthly contribution of a member. The minimum MSC will become P4,000 from the current P3,000 to P4,000 while the maximum MSC will be increased to P30,000 from the current P25,000.

Editor: Dennis D. Estopace

Octavio Peralta

Association World

This Wednesday, December 14, 2022 photo shows ho me Development Mutual Fund CEO Marilene C. Acosta (fifth from left) leading the launch of the “Virtual Pag-iBiG Mobile App.” CREDIT: Pag-IBIg FunD

Relationships

STILL looking for the perfect Christmas gift for your loved ones or clients?

Honey, there’s no such thing. And the quicker you realize that, the less stressful your holiday gift-giving will be.

If you’re the company president or a top business executive who likes to spend on corporate giveaways, then make sure your gifts are at least useful.

Calendars, for one, are still practical gifts, despite having digital variations on our mobile phones.

In the recent past, I had always looked forward to the Bangko Sentral ng Pilipinas’ beautifully designed wall and desk calendars which gave us a peek into its massive art collection. Not all of these artwork and ancient artifacts come on display, so it feels really special to view all of them even just through photos. The captions are educational and through them, we get a sense of the item’s history and provenance.

Not expecting any calendars from any company this year, I bought Tita Witty’s “Kailangan mong pumasok sa opisina. Hindi ikaw ang nawawalang anak ng Hari at Reyna” for 2023. Each month, Tita Witty’s save-theworld philosophy inspires us to cope with real-life work conditions: Nagtatampo sa ’yo ang résumé mo. Naaalala mo lang daw siyang i-update kapag naiinis ka sa trabaho mo.” And that’s just for March.

Although I’m usually averse to lugging them around, umbrellas are also welcome corporate gifts. And it’s unfortunate many companies think of these as cheap or not “on brand.” With the country being lashed by typhoons now three quarters of the year due to climate change, umbrellas should still be a great option for corporate giveaways.

Some companies have tried to be more hip and gift French presses paired with local coffee (good for our coffee farmers), Philippine-made chocolates in special gift boxes (Auro’s banig-inspired boxes are always special), travel essentials, like luggage and toiletries bags, and there was one year it seemed that every company in the country gifted me and everyone I know a mobile phone charger. At the height of the pandemic, firms that could still afford to send out

Christmas gifts gave personalized masks and face shields.

I would advise companies to go for the unique. The BSP under Gov. Philip Medalla, for instance, gifted some lucky ones this year with a nice set of traditionally-woven throw pillow cases—beautiful. Also functional.

Since the idea is to keep the company brand top of mind, items should always be in constant use and easily inscribed/printed with the company name, like Bluetooth keyboards and mouse for your favorite clients, comfortable hoodies for truckers and delivery personnel, ceramic cake plates or dipping saucers, condiments like vinegar and soy sauce or their vessels (never underestimate the power of the sawsawan— people constantly reach out for them), vegan/real leather passport holders, to name a few.

Of course, food and drinks are fail-safe options, whether these be company gifts or personal presents to friends and loved ones. However, I would caution gift-givers to find out more about the recipients. Like, if the recipient is diabetic, don’t give them a cake or pastry, even if it is the “dessert of the year.” Or why

give liquor to someone who doesn’t imbibe alcoholic beverages? So be more respectful of the gift recipient and do your research.

Of course, it’s not like one can give great presents as well to family members. Some are even more difficult to gift more than others. For one, don’t give books to people who don’t read. Or chokers or necklaces to people who don’t wear fashion accessories.

My favorite presents to family are usually practical as well, like kitchen gadgets and houseware for homemakers, sleepwear for those who spend most of their sleeping (and non-sleeping hours) horizontal, coffee beans to those who like to get jolts in their mornings, and for kids...anything goes. Footwear, clothes, puzzles, toys, etc. They will outgrow them soon enough, so give them something that will hold their interest and attention for the moment.

The more difficult ones are teenagers or adolescents—their tastes, not to mention their moods, change far too fast, it’s hard to keep up. For parents Continued on B5

Hygiene and home essentials donated to families of Gawad Kalinga

DEDICATED to making a meaningful, healthy and sustainable lifestyle that is more attainable for Filipino families, trusted Filipino household company Philusa Corp. donates P200,000 worth of hygiene, personal and home care products to Gawad Kalinga, a poverty alleviation movement. During the donation turnover activity, the Philusa Corp. Team donated 65 sets of Philusa kits containing various hygiene, personal and home care items from Cleene, Babyflo, Albatross, Mediplast, Rhea and more. These kits were distributed by Gawad Kalinga to 65 selected families who were affected by the recent typhoon Paeng for their hygiene and home necessities.

The support was performed under Philusa Corp.’s 65 Tahanan initiative, the company’s way of giving back to Filipino families and carrying on with their commitment to being every Filipino

care, home care, health and wellness, and sustainability.

The 65 Tahanan initiative is in line with the company’s 65th anniversary campaign,

The campaign was announced last October and champions health, hygiene and sustainability by making these accessible to Filipinos.

“We would like to thank Philusa Corp. for their contribution to the lives of these 65 families. As a non-government organization, Gawad Kalinga really hopes to continue to strengthen the health of the families that we care for. This is especially important as we grow to support more and more communities, and this donation will really allow us to improve the health and wellbeing of the Filipinos we support,” said Gawad Kalinga executive director Daniel Bercasio.

“We at Philusa Corp. strive to be a socially responsible company, and we pursue this vision by giving back to our communities and through our partnerships with different foundations and organizations. We are grateful to Gawad Kalinga for joining us in this collaboration” shared Philusa Corp. president and general manager Neogin Evangelista.

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Benjamin Bratt, 58; Park Seo-joon, 33; Theo James, 38; Zara Larsson, 25.

HAPPY BIRTHDAY: Pay attention, and you’ll be able to take advantage of unique opportunities. Be open with friends, relatives or your lover, and make plans that will help you create a mutually beneficial connection that is geared toward a healthier future. Refuse to let outsiders interfere with your plans or meaningful relationships. Stick to what’s tried and true. Your numbers are 5, 17, 22, 24, 33, 36, 43.

aARIES (March 21-April 19): Distance yourself from anyone who stifles you. Focus on what’s important to you and the changes you can make if you put more effort into your plans. Have confidence in who you are and what you have to offer. HHH

bTAURUS (April 20-May 20): Uncertainty will lead to inconsistency. Evaluate the past and present, and rely on your experience to help you put your energy where it will bring the highest return. HHH

cGEMINI (May 21-June 20): A change in how or where you work will be met with pros and cons. Consider your options, and decide to do what makes you feel happy and healthy. Choose to follow the path that honors your integrity and encourages growth. HHHHH

dCANCER (June 21-July 22): Step back if someone pressures you to invest in something unfamiliar or risky. Ask trusted allies, relatives or an expert before you jump into something that can eat your savings or lead you down the wrong path. When in doubt, say no. HH

eLEO (July 23-Aug. 22): Work in conjunction with people who share your objective and concerns. You’ll accomplish more if you are open to suggestions and sharing the work and the benefits that unfold. HHHH

fVIRGO (Aug. 23-Sept. 22): Take an energetic approach to life. Participate in challenges that require physical and mental agility, and play to win. Pay attention to detail, and you’ll find an obscure way to be competitive and aweinspiring to an onlooker. HHH

gLIBRA (Sept. 23-Oct. 22): Make plans to socialize with people who spark your imagination and, open your mind to new and exciting options. Look at change as growth, and you’ll learn something that will help you adjust to the modifications going on around you. Embrace life. HHH

hSCORPIO (Oct. 23-Nov. 21): Think before you act. If you set unrealistic expectations, disappointment will follow. Ask for help if you need it, and you’ll be surprised by a response you receive from someone you least expect. HHH

iSAGITTARIUS (Nov. 22-Dec. 21): Ask questions, and verify the information you receive. Look for opportunities that will help you save money. Keep your wits about you if someone suggests something unrealistic. HHHH

jCAPRICORN (Dec. 22-Jan. 19): Control your emotions when dealing with money, health or contractual matters. If you overreact or take on too much, it will be difficult to reverse the consequences. Avoid joint ventures to ensure you maintain control. Physical improvements will pay off. HH

kAQUARIUS (Jan. 20-Feb. 18): You’ll have a healthy attitude and an open mind. What you discover will help you handle your finances better and improve a meaningful relationship. Take a unique approach when it comes to pleasing someone you love. A surprise will be rewarding. HHHHH

PISCES (Feb. 19-March 20): Dig in and get things done. What you achieve will leave a lasting impression on someone you deem special. Let your intentions be known, and you’ll be able to make plans that will result in a positive lifestyle change. HHHHH

BIRTHDAY BABY: You are friendly, enthusiastic and generous. You are spontaneous and impressive.

H: Avoid conflicts; work behind the scenes. HH: You can accomplish, but don’t rely on others. HHH: Focus and you’ll reach your goals. HHHH: Aim high; start new projects. HHHHH: Nothing can stop you; go for gold.

David Steinberg

PHOTO BY KARI SHEA ON

THE irony is not lost to the audience: a nation that has a record number of old men and women is now proposing through cinema a systematic process of doing away with them. Dubbed Plan 75, a reference to the cut-off age for the aged willing to enroll in the said program, the film is an acute summing up of what happens to a graying society that is Japan. But what could have been an incipient cold depiction of dystopia (think Soylent Green) becomes linked verses of compassion for a humanity that persists.

Chie Hayakawa, the filmmaker behind Plan 75, does not waste any time to tell us how the world of the Japanese has quickly turned upside down. The film opens with an annihilation.

For the non-Japanese audience, the scenes that follow the violent opening could have appeared strange and exotic: two old women are briskly working in a hotel, and their efficiency would put to shame any other woman younger than them. But that is the truth in Japan. Old women and men have formed the labor force in this phenomenal economic system, where the so-called dangerous, dirty and difficult jobs are given to foreign workers and, by default, to those who have no clear options for employment.

Later, the two women are seen with the other women. They look old; they ARE old. But they are tough workers, an unapologetically active part of the working class. They disperse later and the camera tracks one of them. She goes home to her small place.

Inside, life vibrant goes on. She cuts her nails and, after gathering them on a piece of paper, drops them into her plants—dead tissues into living organisms. Nothing goes to waste in this society.

To these old women, Plan 75 has become a fact. Not a warning. The backstory to the population crisis in Japan is the historical fact that these old men and women now on their way out were the same men and women whose sense of the gaman (obstinacy and industry) composed the generation that built the industrial giant named Japan. To these old inhabitants belonged the tradition that saw the nation as an ie, a house. They, however, have become unnecessary. They have become the “plan.”

And precisely because the old women and men of Japan have always shown their capacity for sacrifice that they are now at the center of this narrative, which is a tribute to them as well as a muted critique of their society. There is also a historical antecedent to the aged being thrown away, discarded. This was the notion of “ubasute,” long held a legend involving senicide, where the aged are brought to remote sites up on the mountains and leaving them there to die.

MULTI-AWARDED broadcast journalist Jessica Soho—together with content creators and celebrities Ninong Ry, Small Laude, and Herlene Budol—treat overseas Filipino workers (OFWs) to a heart-warming holiday celebration via the four-part original online series Pinoy Christmas in Our Hearts, which debuted last December 13.

Away from their loved ones, some OFWs express their longing for their relatives back home by making vlogs and making short videos. They groove in their dance videos, document their dumpster diving, and take their subscribers on trips to the other side of the world. But in reality, the content they dream about the most is to be with their family again here in the Philippines and experience that distinctly Filipino Christmas again. Through the series Pinoy Christmas in Our Hearts, GMA Public Affairs, in collaboration with YouTube, will make these wishes come true.

For the first time since the pandemic, some of these OFWs will be returning home. And some of the biggest names in content creation in the Philippines will collaborate with them.

Dumpster diver and vlogger Julie spent 14 Christmases without the son she left in Negros Oriental. With the help of award-winning broadcast journalist Jessica Soho, the mother and son will be reunited and together, they will express their gratitude by attending the Simbang Gabi (dawn mass). Viral chef Ninong Ry, on the other hand, treats them and the rest of the 100 people at Baclaran Church to a Noche Buena.

More than the big waves, seafarer Jovani has to

If Plan 75 had simply been that—the discard of humanity—then it would have been a dry-as-dust thesis of modernization. The plan, however, comes from a society of feeling people. In a comic twist of the Japanese discussing resorts and vacations, the old women huddle and talk of the benefits of knowing when to die. The final days are spent with good food in a lovely place. But Hayakawa knows dying is as complex as living even if one is given a plan. She includes in the story young men and women, putting back in the frame what has been missing all this time, all this life—the family and the love concealed behind such a human invention.

Kinship, in the film, offers a way out of death that is so artificial because it has been made certain, and therefore not human.

With a gripping screenplay (written by Hayakawa based on her story and Jason Gray), Plan 75 takes your breath away. Credit for the power of the film should also be given to its actors who are so charismatic they make their angst ever closer to ours. Stefanie Arianne, the Filipino-Japanese actress, holds the screen with the presence of the ordinary. She gathers all the tensions in her body and presents to us a warmth necessary in a room of corpses yielding earthly treasures. Yumi Kawaii is the call center agent whose last call to the old woman she knows is leaving her home for the last time is sadness distilled in powerlessness. As the young man directly working for the Plan, Hayato Isomura knows what they do with

the ashes after cremation. Saving his uncle from the government crematorium, he is the shred of hope we thought the matter-of-fact bleakness of this film will never provide. If we are to shed tears, however, they are not for these old people but for the young looking at a future similarly misbegotten.

To the Filipino audience, the actor who plays the lead—the woman living alone who, towards the end, gifts us with a horizon that fortunately beholds not the last sunset—may seem just another old thespian. She is not; she is Chieko Baisho, an icon in Japan, having acted as Sakura in the long-running series Otoko wa tsurai yo (It is tough being a man). In Plan 75 Baisho becomes everywo/man, a representation of a weathered but gallant humanity. The singer-actress does not so much fill the screen as she vanquishes it with those eyes that see the realities but are too brave to surrender to them.

For those who were disappointed they were not able to use their hankies during dramatic moments, do not despair. Chie Hayakawa’s sense of drama is also her sense of hope. Humans, after all, will live through projects to calendar deaths in a world where life itself escapes predictability.

I urge you to watch Plan 75 for its artistic achievement that is also its triumph in truth-telling. The film is produced by Loaded Films, Urban Factory, Happinet-Phantom Studios Dongyu Club, WOWOW, Fusee, and released through TBA Studios in the Philippines. n

YEONCHEON, South Korea—Jin, the oldest member of K-pop service at a front-line South Korean boot camp on Tuesday as fans gathered near the base to say goodbye to their star.

Six other younger BTS members are to join the military in the coming years one after another, meaning that the world’s biggest boy band must take a hiatus, likely for a few years.

Their enlistments have prompted a fierce domestic debate over whether it’s time to revise the country’s conscription system to expand exemptions to include prominent entertainers, like BTS, or not to provide such benefits to anyone. With lawmakers squabbling at Parliament and surveys showing sharply split public opinions over offering exemptions to BTS members, their management agency said in October that all members would perform their compulsory military duties. Big Hit Music said that both the company and the members of BTS “are looking forward to reconvening as a group again around 2025 following their service

Jin, who turned 30 earlier this month, entered the boot camp at Yeoncheon, a town near the tense border with North Korea, for five weeks of basic military training together with other new conscript soldiers, the Defense Ministry said.

After the training involving rifle shooting, grenade throwing and marching practices, he and other conscripts would be assigned to army units across the country.

About 20 to 30 fans—some holding Jin’s photos—and dozens of journalists gathered near the camp. But a vehicle carrying Jin moved into the camp without him getting out.

The BTS official Twitter account later posted photos showing Jin with other members, likely at the camp, with a message saying: “Our bro!! Have a safe service!! Love you.”

One image showed smiling members touching Jin’s shaved head.

“I want to wait [for] Jin and see him go into the military and wish him all the best,” Mandy Lee from Hong Kong said before Jin’s entrance to the camp.

Jin—whose real name is Kim Seok-jin—wrote on the online fan platform Weverse earlier on Tuesday that “it’s time for a curtain call.” He posted a photo of himself on Sunday with a military buzz cut and a message saying, “Ha ha ha. It’s cuter than I had expected.”

By law, all able-bodied South Korean men must serve in the military for 18 to 21 months under a conscription system established to deal with threats from North Korea. But the law gives special exemptions to athletes, classical and traditional musicians, and ballet and other dancers if they have won top prizes in certain competitions and enhance national prestige.

K-pop stars and other entertainers aren’t given such benefits even if they gain worldwide fame and win big international awards. AP

FINDING THAT PERFECT GIFT

Continued from B4

and godparents to kids in this age group, best to ask them what they want. Give them a budget you can work with, and see what they come up with.

Gift-giving doesn’t have to be difficult at any time of the year. Just be more sensitive to the recipients by doing some background research. And expensive doesn’t usually mean the best. No one should be remembered as a lousy gift-giver.

CLEANUP

BEACH

AS readers can probably tell by now, Boracay Island is my favorite vacation spot in the country. With more people traveling there, I’m glad the Boracay MICE Alliance has launched an initiative to ensure local stakeholders and tourists help keep the island clean.

Our friend Cleofe Albiso, who chairs the Boracay MICE Alliance, said her group is promoting a 5 pm daily cleanup of the island’s shores, and while doing so an official jingle will be played to give a little lift to everyone’s task.

“In Bayanihan Spirit, we can gradually recover whatever we have lost in the past few years and declare that we are for sustainable tourism here in the island,” said Cleofe, who is also managing director of Megaworld Hotels and Resorts which has recently opened a new convention center to attract another tourism segment—the meetings, incentives, conventions, and exhibitions (MICE) sector.

face loneliness at sea. He fights off the sadness by making dance videos. Jovani will endure anything for his grandmother in Surigao who has difficulty of hearing. His prayers are answered as this year, he will be able to get off the ship and spend Christmas with his lola. Fashion and lifestyle influencer Small Laude joins him in a Christmas shopping spree for his loved ones. But as someone considered a millionaire, will Small be able to pull off buying gifts for 10 people if her shopping budget is also ‘small’?

Streetboys dancer Spencer Reyes turned his back on showbiz and migrated to Scotland with his family. His fans, though, remain updated because Spencer

vlogs about his life now as a bus driver.  Unknown to his parents here in the Philippines, Spencer’s next trip is to go straight to their house in Tondo. But a surprise also awaits Spencer: in the middle of his tour, his friend Ice Seguerra surprises him while singing with the Mandaluyong Children’s Choir. Now, the bus driver in Scotland is joined by Binibining Pilipinas 1st Runner-Up Herlene Budol as they go on Christmas caroling for the buses along Edsa.

Pinoy Christmas in Our Hearts is presented by GMA Public Affairs and YouTube exclusively on the GMA Public Affairs YouTube channel (www.youtube.com/ gmapublicaffairs).

The organization, in partnership with DOT-Region 6 and the Malay LGU, has an ongoing High 5 Boracay Song-Writing Contest, where the winning song will be declared as the cleanup’s official jingle. The composer will also get P100,000 in cash. Wow.

The public is encouraged to vote for their favorite jingle, from the five finalists chosen earlier, which are posted on the organization’s Facebook page. “The composer of the winning entry will not just take home the coveted cash prize but also be recognized as its creator, as the winning jingle airs over radio stations and other platforms [during the daily cleanup],” says Cleofe.

Good luck to the contestants. n

JIN

CHIEKO BAISHO

Nickel Asia bats for biodiversity assessment, ecological protection

guiding image or model for ecosystem restoration or rehabilitation”.

Camo explains that the “Reference Ecosystem” is a small part of land duly preserved to represent how the area looked like before mining disturbance. This piece of land referred to as “Reference Ecosystem” will then become the guide and the pattern to follow on how to responsibly rehabilitate the land after mining as ordered by law.

“It is no longer about just to beautify mined-out areas after mining but to restore the land to its original form and the DAO will guide us on how to effectively do our job to achieve that state,” furthers Camo.

The new DAO will put emphasis on the protection and conservation of native and endemic species, maximizing its potentials, to efficiently bring back the forest, as close as possible, to its original form after mining.

‘BUSINESS BROADCAST’ AT WORLD TRADE CENTER, World Trade Center Metro Manila’s (WTCMM) first Business Broadcast tackled the topic "A Broader Look at the Sustainable Trade & Circular Economy in the Philippines,” which inspired a vibrant ex-change among participants about how circular economy approaches fit within the broader context of sustainable trade.

In photo as one of the event speakers is Department of Trade and Industry (DTI) assistant secretary for Consumer Protection Group Atty. Ann Claire Credo-Cabochan (center) with WTCMM chairman and CEO Pamela Pascual (left) and WTCMM executive vice president and COO Arturo Boncato, Jr..

Puerto Galera celebrates its 95th founding anniversary; tipped to be the country‘s next ‘MOTOurism’ destination

MORE than 500 motorcycle riders from different parts of the country had their routes set to the island of Puerto Galera in Oriental Mindoro to participate in the 4th Mangyan Motorcycle Endurance Challenge (MMEC) held on the night of December 9.

NICKEL Asia Corp. (NAC)

Environmental teams, with representatives from all of its subsidiaries, got together for the first time as a group in Surigao del Norte to map their corporate direction for 2023 and to dissect and absorb the new environmental law issued by the Department of Environment and Natural Resources (DENR) early this year.

The Department Administrative Order (DAO 2022-04) issued last March mandates all mining companies to incorporate the principles and processes of biodiversity assessment and ecological protection right before the start of actual mining operation and not only during rehabilitation proceedings that continue

up to end of mine life. What is common understanding is that biodiversity assessment and environmental safeguards happen only during progressive rehabilitation when intensive mining operations begin.

The new DAO ensures that all adequate measures for responsible mining towards biodiversity conservation and protection get focused as early as during planning.

Engr. Remedios Collado-Camo, NAC AVP for Industrial Safety/OIC, Environment Sector, notes that one very interesting provision in the DAO is the mandate to establish a “Reference Ecosystem,” which, according to the law, is “the original state of the ecosystem during pre-mining status that will serve as the

Camo says the DAO will help streamline all that the Environmental Groups at NAC have been doing since the beginning and the processes will now be more effective and appreciated because DENR now has provided a detailed guide on biodiversity assessment, protection and sustainability.

Camo adds that she is committed to help navigate her entire team through this new DENR biodiversity assessment which, she says, is the backbone of all of NAC’s operations and the core of the mining company’s business processes and strategies. The mantra of responsible mining is bringing back what were disturbed to its original condition, or even better.

“As our President and CEO, Dennis Zamora, always says – it is not mining if it’s not responsible,” Camo relays.

Park Inn by Radisson Davao lights Christmas Tree to start celebration of a season of lights and beginnings

LAST November 25, 2022 Park Inn by Radisson Davao celebrated the #SeasonofLights in a Christmas Tree Lighting ceremony.

First to delight the guests upon entry is the hotel’s 14-foot sustainable bamboo tree, accented with woven baskets made by the Matigsalog Tribe from Marilog District, Davao City while patterns inspired by Mandaya and Yakan weaves on the Christmas stars complemented the whole hotel interior.

The Park Inn by Radisson Davao team then greeted honorable guests from the Office of the Vice President, represented by Generose Tecson, Davao City Vice Mayor Melchor Quitain, City Councilors, Foreign Consuls, City Tourism Officials, SM Lanang Premier Executives, corporate guests, and media friends, clad in their modern Filipiñanas and Barong Tagalogs to blend with the Filipino Christmas theme.

The affair officially started with a heavenly harmony from the UP Mindanao Koro Kantahay through their rendition of “Kumukutikutitap” and “Diwa ng Pasko.” Christmas messages were then delivered by Sven Toune, Park Inn by Radisson Davao’s General Manager who is celebrating his first tree lighting ceremony in Davao, Peggy Angeles, SM Hotels & Conventions Corporation’s Executive Vice

President; and, Davao City Vice Mayor Melchor Quitain.

“I am brimmed with excitement and happiness now that we are slowly going back to normal, restrictions are almost nonexistent, we can finally travel anywhere in the world and most importantly, celebrate life with our loved ones. It’s also good to see hotels in Davao being fully booked, conventions and exhibitions right here and there are finally taking place and more visitors are coming to the city.” as delivered by General Manager Sven Toune.

Christmas is indeed the season of sharing and as part of Radisson Cares program, the hotel launched Cookie for a Cause where 20 percentt of the total sales is pledged for the priority needs of SAKADAB or Samahan ng May Kapansanan sa Dabaw, a village for PWDs (Persons with Disability) in Davao City. Cookie for a Cause is available at the hotel’s Christmas store and the project will run until January 6, 2023.

The awaited Christmas Tree lighting was then led by the executives and the hotel’s department heads. The property’s interior was filled with bright lights and gleeful smiles as the Christmas season is finally ushered.

The evening was extra momentous as the atmosphere transitioned to the

official launch of the hotel’s newly uplifted and refreshed restaurant, VANDA. The launch was opened by the mesmerizing interpretative dance by St. John Paul II College of Davao’s Siningtala Dance Company to tell the story of Waling-waling. Along with the beat of the percussions, VANDA was exhilaratingly opened and presented to all of the guests.

VANDA was derived from Vanda sanderiana, a species of orchid. It is commonly called Waling-waling, “Queen of Philippine flowers”, endemic to the island of Mindanao, where the Bagobo tribes worship it as a deity. The Vanda is one of Mindanao’s pride and it is only fitting that Park Inn by Radisson Davao’s newly uplifted and refreshed restaurant will be named after it. The restaurant works towards the goal to promote the wonderful gastronomic experience one can have when delighting in dishes that is incorporated with local ingredients found in the island.

This is only the beginning of the hotel’s upkeep plan in the pipeline as Park Inn by Radisson Davao is gearing towards the momentous 10th anniversary next year.

Follow Park Inn by Radisson Davao on their socials, @parkinnbyradissondavao on Facebook and @parkinndavao on Instagram for their offers of the season.

The MMEC was one of the highlights of the 95th founding anniversary celebration of Puerto Galera. The event tested the endurance and passion of motorcycle riders through a 1,000-kilometer motorcycle ride that took off from the newly-developed Sabang Baywalk located in the town of Sabang. Despite the sudden downpour, motorcycle riders pursued to finish the loop ride.

According to Puerto Galera Mayor Rocky Ilagan, the MMEC aims to introduce the island to motorcycle groups as one of the best destinations for motorcycle tourism or “MOTOurism.” With its beautiful landscapes and safe roads, Ilagan stressed that Puerto Galera is the perfect place for tourists, especially motorcycle riders to practice their

passion while enjoying the picturesque view of the island.

Ilagan also hopes that this year’s MMEC participants can help promote Puerto Galera through their various social media platforms. The local chief executive admitted that tourism activities in Puerto Galera still need boosting in order to return to normalcy after the onslaught of the COVID-19 pandemic.

Meanwhile, MMEC participants said that aside from testing their capacity as motorcycle riders, they joined the activity to help promote different tourist destinations in Puerto Galera, specifically its crystal clear waters and impressive mountain range.

Aside from the MMEC, various activities were also held to commemorate the founding anniversary of Puerto Galera, such as a fluvial parade and several competitions that showcased the talents of its residents. Puerto Galera was once hailed as one of the best islands in the world by several international travel websites.

COASTAL CLEANUP IN CEBU. The CLIP Locators Environmental, Health, Safety, and Security Association (CLEHSSA) recently participated in a coastal cleanup activity to depollute the Carajay Creek located just beside the Cebu Light Industrial Park (CLIP) in Barangay Basak, Lapu-Lapu City in Cebu. Over 120 volunteers from 11 locator-companies in CLIP joined forces to clean the waterway and were able to collect almost 1.5 tons of garbage from the area. CLIP is a 63-hectare industrial estate located on Mactan Island in the province of Cebu. It is owned and operated by Science Park of the Philippines, Inc. (SPPI), the industrial estates development arm of the ICCP Group.

TVC culminating conference highlights sustainable tourism, interaction with local industry stakeholders

THE United Nations Environmental Programme (UNEP), the Department of Tourism (DOT), and the Philippine Center for Environmental Protection and Sustainable Development, Inc. (PCEPSDI) underscored sustainable tourism during the culminating event of the Transforming Tourism Value Chains (TVC) project, “Transforming Philippine Tourism: Paving Sustainable Paths Towards Inclusive and Climate-Resilient Destinations” conference last November 8 to 9 at Novotel Manila.

On behalf of Tourism Secretary Christina G. Frasco, OIC-Assistant Secretary Warner Andrada emphasized that there is hope on the horizon as organizations like UNEP and members of Philippine Stakeholders Tourism Advisory Group (PSTAG) continuously take on the role of advocates and stewards of the planet.

“The Transforming Tourism Value Chains Project reflects the current thrust of the DOT as it takes on a clear course of action geared towards transforming the industry in this new era of travel and tourism,” Andrada said.

Furthermore, the two-day conference echoed the international call for green recovery for the tourism sector, which includes better conservation and sustainable management of the natural tourism destinations such as beaches, oceans, mountains, parks, and forests.

The participating organizations have also seen the importance of reducing greenhouse gas (GHG) emissions, increasing resource efficiency, and embracing sustainability practices for transforming the sector.

The project’s conference likewise featured panel discussions, which gave a platform for the resource speakers to share progress on environmental sustainability, climate action, sustainability leadership, and investments in the tourism industry.

During the first day, the conference formerly opened with a panel discussion on “Driving Climate Action in Philippine Tourism: Looking at Status and Progress” with Eylla Laire M. Gutierrez from Asian Institute of Management, Brenda Butardo and Andrea Janelle D. Go from Philippine Center for

Environmental Protection and Sustainable Development Inc., Julius A. Manabat from La Union Tourism Office and Teddy Monroy from United Nations Industrial Development Organization as resource speakers.

“From the policy point of view, the Philippines has good regulations and policies, but the challenge is how to implement them. If we can all come together and if the efforts are not fragmented, these policies can be mainstreamed and consistent across all of the different offices, including local government units,” Teddy Monroy noted.

Roderick F. De Castro of Business for Sustainable Development, Alexis Bautista of SMX Convention Center; Kingson Sian of Travellers International Hotel Group, Inc.; Karlo Angelo C. Evangelista of Savoy Hotel Manila, and Kiko Velhagen of Ten Knots Philippines, Inc., shared private sector progress in the second panel, moderated by Dr. Benigno Glenn Ricaforte of De La Salle College of Saint Benilde.

On the second day of the conference, Karen Mae G. Sarinas-Baydo from Tourism Infrastructure and Enterprise Zone Authority; Prudencio Callado from Landbank of the Philippines, with Benito Bengzon, Jr. from Philippine Hotel Owners Association as moderator, spearheaded the discussion on infrastructure development and green financing opportunities for sustainable tourism development for the final panel.

PCEPSDI, UNEP and DOT also recognized partner hotels and hotel groups, and members from the Philippine Stakeholders Advisory Group (PSTAG) for Sustainable Tourism who actively participated in TVC project activities towards reduction of the sector’s carbon footprint.

The conference is in partnership with the Tourism Infrastructure and Enterprise Zone Authority(TIEZA), Tourism Promotions Board (TPB), Philippine Association of Convention/ Exhibition Organizers and Suppliers (PACEOS), and Tourism Congress of the Philippines (TCP), together with BusinessMirror as official media partner.

NAC’s dedicated environmentalists, representing the mining corporation’s subsidiaries, flashing the “OneNAC” sign

Ginebra Kings, HK Bay Dragons go for 2-0 lead in semis series

The Gin Kings head coach Tim Cone said they are bracing for Serbian Nicholas Rakocevic to play like a raging bull as the Hotshots try to level the best-of-five series in the game starting at 3 p.m.

We are expecting a motivated Rakocevic to return in Game 2 so we are going to brace for that,” said Cone, whose wards won Game 1, 87-84, Wednesday. “We’re expecting more from Magnolia in to the next one. It’s going to be a bigger fight than the last time.”

R akocevic scored only 10 points and grabbed eight rebounds in 20 minutes of action. He was ejected in the third quarter for a flagrant foul penalty 1 and a technical foul he incurred earlier in the game.

Despite his absence in the crucial moments, the Hotshots didn’t roll and die but put up a solid defense that kept them within striking distance. But Jamie Malonzo, Scottie Thompson and import Justin Brownlee took charge for the Gin Kings when it mattered most.

M alonzo led Ginebra with 21 points and 12 rebounds while Thompson finished with 16 points, seven rebounds and six assists. Brownlee struggled with 11 points, but grabbed 13 rebounds and had six assists, two steals and two blocks despite committing seven turnovers.

Paul Lee scored 21 points to lead Magnolia in Game 1.

M agnolia Coach Chito Victolero said “they’ll keep on fighting.”

“ ’Same thing … it will be more physical, a dogfight,” Victolero said. “We felt we played good in Game 1, but we need to play better in Game 2. We have our chance if we stay close.”

The Hong Kong Bay Area Dragons, meanwhile, are hoping to rip their series with the San Miguel Beermen open in Game 2 set at 5:45 p.m.

It wasn’t the kind of game coach Brian Goorjian expected of his Dragons in Game 1 where they had to overhaul a 16-point third to win, 103-102.

This is war, not a game, and we still got a lot to plays. This is just one game,” Goorjian said. “The playoffs are totally different over the regular season. You play the same team maybe five times. The team that makes the adjustments, that gets better as the series goes on.”

A ndrew Nicholson posted 30 points—nine in the fourth—plus 15 rebounds and three blocks in Game

1. For deputy coach Jorge Gallent, the Beermen have to be aggressive throughout the game to tie the series.

“ That’s the main thing— aggressiveness in defense and offense,” he said. Josef Ramos

AL KHOR, Qatar— Kylian Mbappé versus Lionel Messi.

Soccer’s latest superstar against perhaps the sport’s greatest player in the World Cup final just about everyone was hoping for.

France and Mbappé are headed back to the biggest game in soccer, and to a much-anticipated matchup with Argentina, after ending Morocco’s historic run at the World Cup on Wednesday.

I n front of the country’s president, Emmanuel Macron, France beat Africa’s first ever semifinalist, 2-0, with Mbappé playing a part in goals by Theo Hernandez in the fifth minute and substitute Randal Kolo Muani in the 79th.

M bappé became a global phenomenon by leading France to the title in Russia in 2018 and has a chance to emulate Brazil great Pele as a champion in his first two World Cups when he comes up against the 35-year-old Messi, who has dominated the game with Cristiano Ronaldo for the past 15 years.

It’s the dream final for many, with France looking to become the first team to retain the title since Brazil in 1962 and Argentina on a mission

WORLD CUP FINAL: MBAPPE VS. MESSI

to win soccer’s ultimate prize for the third time in what is likely to be Messi’s last World Cup.

We need all our strength, all our energy to face a very competitive team with one of the legends in the sport with Messi,” France goalkeeper Hugo Lloris said.

There will be no team from the Arab world in the final of the first World Cup in the Middle East, a prospect that seemed nigh impossible before the tournament yet nearly happened in Qatar.

Morocco has been widely lauded for breaking ground for Africa and generated an outpouring of pride among Arab nations after topping a group containing Croatia and Belgium and eliminating two more European powers—Spain and Portugal—in the knockout stage. Their players gave France a far-from-easy ride, too, before

collapsing on the ground in despair after the final whistle.

We are disappointed for the Moroccan people—we wanted to keep their dream alive,” Morocco coach Walid Regragui said. “We felt we could have gone further but we have given a good image of Morocco and of African football. That was important to us.”

R emarkably, Hernandez’s early goal was the first scored against Morocco by an opposition player in the tournament—the other had been an own-goal in the group stage—but the team responded to that and injury issues in its defense with a fearless performance in front of tens of thousands of fans who dominated the 60,000-seat Al Bayt Stadium.

France was forced into some last-ditch defending at times but has developed a knack of pulling out victories despite not playing its best.

The country will be playing in the final for the fourth time in the last seven World Cups, more than anyone else.

It wasn’t easy,” France coach Didier Deschamps said, “and we showed our quality, experience and team spirit.”

M bappé failed to add to his five goals in the tournament but helped create the opener for Hernandez when his shot deflected off a defender and into the path of the left back.

Hernandez let the ball bounce before driving a downward effort into the net from a tight angle.

Typically a defense-first team, Morocco was forced to come out and play even though it was reeling from losing Nayef Aguerd to injury in the warmup and another center back, captain Romain Saiss, after only 21 minutes because of a hamstring injury. Both players were doubts

Olympic silver medalists Paalam, Petecio to grace Batang Pinoy opening ceremony

NO less than Olympic silver medalists Carlo Paalam and Nesthy Petecio will spice up this Saturday’s opening ceremony of the Philippine Sports Commission (PSC)-Batang Pinoy National Championships at the Quirino Stadium in Bantay, Ilocos Sur.

Besides Paalam and Petecio, who are products of the PSC’s grassroots programs, Olympian judoka Kiyomi Watanabe and Southeast Asian Games gold medalists Chloe Isleta (swimming) and Mary Allin Aldeguer (arnis) are also joining the opening ceremony.

“The Batang Pinoy program has already produced numerous

champions in various sports since it started in 1999,” said Jose Emmanuel “Noli” Eala, who will formally open the Batang Pinoy, his first major project as PSC chairman.

“I’m sure that the stories of our bemedaled athletes will inspire our young athletes who will be competing in Ilocos Sur to reach the height they have achieved,” he added.

The Batang Pinoy (National Youth Games) is one of the PSC’s centerpiece programs for grassroots sports. It heeds the call of President Ferdinand “Bongbong” Marcos Jr. to bring sports closer to every Filipino.

The other VIPs expected to attend the opening ceremony are Governor

Senator ‘Tol’ on sports ambassador

SEN. Francis “Tol” Tolentino called Bernard Dy as the first sports ambassador as he manifests his full support for his confirmation as the Philippine ambassador to Switzerland.

Ancajas faces Thai in ‘bantam’ debut

By Josef Ramos

FORMER world champion Jerwin “The Pretty Boy”

Ancajas makes his bantamweight debut against International Boxing Federation (IBF) Pan Pacific champion Songsaeng Phoyaem of Thailand on February 12 at the Imus Sports Complex in Imus, Cavite.

I nternational matchmaker and MP Promotions chief Sean Gibbons told BusinessMirror on Wednesday that the 30-yearold former International Boxing Federation (IBF) super flyweight champion will get his baptisim in a heavier weight division from his former super flyweight class.

February 11 [in the US] is a great start for Jerwin [Ancajas] to get back to winning a world title,” said

“ He just outgrew the 115-pound division and will be much stronger at 118 pounds,” he said. “February 11 is a homecoming fight and Jerwin’s road to becoming a two time two-weight world champion.”

A ncajas dominated the IBF’s 115-pound category for six years from 2016. He beat Puerto Rican McJoe Arroyo in Taguig City to win the belt, but lost it to Rio de Janeiro Olympian Fernando Daniel Martinez of Argentina via unanimous decision last February 2022 in Las Vegas.

A ncajas (33-3-2 win-loss-draw record with 22 knockouts) lost in his rematch with Martinez last October in Carson City, California, a defeat that made his team decide for him to move up in weight.

T he 23-year-old Phoyaem is sporting a 19-3 win-loss record with 13 knockouts.

D uring Tuesday’s meeting of the Commission on Appointments’ Committee on Foreign Affairs on the ad interim appointment of Dy, Tolentino said that many sports governing bodies are based in

More

ahead of the game but were risked by Regragui along with left back Noussair Mazraoui, who has had the flu and only lasted until halftime.

Roared on by its red-and-greenclad fans, Morocco came closest to scoring when Jawad El Yamiq hit the post with an overhead kick in the 44th minute and forced France to defend in numbers, with Antoine Griezmann— the team’s playmaker—effectively playing as a deep-lying midfielder and often clearing balls from inside his box.

However, Mbappé enjoyed more space as Morocco tired late in the second half and he was moved into a central position. After dribbling past two defenders, he took a shot that deflected toward Kolo Muani, who tapped in having been on the field for less than a minute.

T he goal was celebrated in the VIP seats by Macron, who flew in for the match and had earlier visited the Souq Waqif bazaar in Doha before traveling to the stadium. The president congratulated France’s players in the locker room after the match.

They might need to raise their game against Argentina, though. Any team with Messi in,” Griezmann said, “is a totally different proposition.” AP

6,000

in-person sports—archery, athletics, badminton, chess, cycling, table tennis, swimming and weightlifting and demonstration sport obstacle sports.

Competitions commence on opening day in archery at the San Ildefonso Central School, badminton at the Ilocos Sur Badminton Center, chess at the Baluarte Function Hall, swimming at

representing the country but also the first sports ambassador,” Tolentino said. “Although it is not part of your paycheck, because all of the governing bodies in sports starting from the International Olympic Committee, including the World Boxing Federation, the Federation of International Basketball Association, the Federation of International Football (FIFA), the Cycling Federation, Handball Federation, and Gymnastics Federation are all based in Switzerland,” Tolentino said.

And as the ambassador there, you will likewise be the ambassador for sports,” he added.

FINIS national finals up at New Clark City pool

HE cream of the crop of young swimmers will converge at the New Clark Aquatic Center in Capas this weekend for the FINIS Long Course National Championships.

The participants are the medalists and top performers who passed the seeding times in their respective age groups in the Luzon, Visayas and Mindanao legs.

FINIS Managing Director Vince Garcia said that besides unique medals he personally designed, exceptional swimmers will also receive scholarship grants and the chance to be named

TFINIS brand ambassador.

“ We got this far. We saw a lot of potential swimmers during the Luzon, Visayas and Mindanao leg, but this time we expect more as the battle goes down to the best of the best,” said Garcia, an active triathlete and “godfather” of the TODO Paratriathletes team.

Jamesrey Ajido, who set four junior records in the Luzon leg last December 3 also in Clark and swam for the national team in the 44th Southeast Asia Age Group Championships in Kuala Lumpur, won’t be around thus opening the competition wide open.

Ajido, the 13-year-old newest FINIS Brand Ambassador, broke his own national junior record in 50 meters (26.95) and 100m (58.82) butterfly and 50m (29.60) and 100m

(1:03.28) backstroke.

Focus will be on the 18 years old class with Ajido’s teammates at the Golden Zoomers team and fellow FINIS Ambassadors National mainstay Kyla Soguilon and Marcus DeKam expected to face stiff challenges.

Garcia also takes pride in welcoming Jarrett Dean Henthornem, the first special child swimmer to win a medal in a FINISorganized event.

The 19-yrs-old Henthornem, who has a Moderate Autism with Severe mental/intellectual Disability, bagged silver medals in the  200m individual (4:52.98), 100m fly (1:16.43), 50m back (36.01), 100m breast (1:30.15), 50m free (28.88), 50m fly (30.97), 100m back (1:22.61) and 50m breast (39.02) in the Luzon leg.

Gaming Corp., Department of the Interior and Local Government Unit and the Department of Education and copresented by Milo Philippines, Pocari Sweat Otsuka Solar Philippines, Universal Robina Corp., Coca-Cola Beverages Philippines, Globe Telecom and Beautéderm.

S’woods charity golf under way with 400 bidders

FOUR hundred players are all geared up for a two-day battle in the Chairman’s Charity Cup beginning Friday at the Legends and Masters courses of the Manila Southwoods in Carmona, Cavite.

The cast includes winners in the Fil-Am Invitational in Baguio City recently headed by Jun Plana, whose Manila Southwoods’ seniors squad retained the Fil Championship crown.

Plana is also the defending men’s overall gross champion in the Chairman’s Charity Cup, back as the host club’s premier Members and Sponsors tournament after the pandemic.

O ther titles up for grabs in the event are the seniors and ladies overall gross, Division I, II, III and IV in men’s and seniors, and Division I, II and III in the ladies side, and the Sponsors/Guests.

T he Individual Net Stableford Points scoring system will be used for Members while the System 36 format will be applied in the Sponsors division.

T he shotgun start fires off at 7:30 a.m. at the Legends and at 8 a.m. at the Masters on both days while the face-to-face awards rites and raffle program will be held at the Southwoods Veranda over a gala luncheon on Saturday.

KYLIAN MBAPPE, soccer’s latest superstar, against Lionel Messi, perhaps the sport’s greatest player, in the World Cup final just about everyone is hoping for. AP

MAGNOLIA’S Serbian import Nicholas Rakocevic needs to keep his temper in check in Game 2.

PAALAM PETECIO

Gibbons, who’s in town to accompany boxing icon Manny Pacquiao in his exhibition match with Youtuber DK Yoo recently in South Korea.

ANCAJAS

TOLENTINO

GARCIA

BARANGAY Ginebra San Miguel and Hong Kong Bay Area go for a commanding 2-0 lead over their respective opponents in Game 2 of the semifinals series in the Philippine Basketball Association Commissioner’s Cup on Friday at the PhilSports Arena in Pasig City.

Jeremias “Jerry” Singson of the host province, Philippine Olympic Committee President Abraham “Bambol” Tolentino and officials of various national sports associations.

than

athletes aged 15 and under from over 140 local government units will compete in nine

the Quirino Stadium and table tennis at San Vicente Gymnasium.  Competitions in arnis, dancesport, judo, karate, muay, pencak silat, taekwondo and wushu, will be held virtually via the PSC Facebook and YouTube platforms. The Batang Pinoy is being staged in partnership with the Philippine Amusement and

Switzerland therefore, Dy will be technically a sports ambassador. Ambassador Bernard Dy with the added job description, that you will not just be an ambassador

Motoring

One of the exhibitors was Kia Philippines which previewed its EV6 model as the brand’s first car with a dedicated platform for battery electric vehicles (BEVs) and soon to be available in the country.

Green cars are here, and the infrastructure support is also beefing up. But the perennial question is, are Filipinos ready to shift to sustainable mobility?

Recently, Kia Philippines invited us for a roundtable discussion on EV ownership, particularly the EV6 model, and debunked common discouraging myths. “Our one true message to the public aims to open their eyes to the reality and potential of EVs and that Kia Philippines is here to make EV ownership convenient, worry-free, and enjoyable,” said Kia Philippines president Manny Aligada. “When the public eventually embraces our EVs, Kia Philippines also fulfills its social

responsibility and solid commitment to sustainable mobility, sustainable energy, and a sustainable planet. Soon the Philippines will also reap the benefits of the environment-friendly shift towards greener motoring.”

Charging time

ThE Kia EV6’s battery is tested to provide more than 500 kilometers of drive range. So, an average 50-kilometer daily drive to work within the Metro only consumes a fraction.

Ten hours spent at home, including sleep, is more than enough time for the EV6 can be left to charge. Even so, depending on the charger used, an EV6 can reach a full charge (i.e., from 10 percent) in 90 minutes using a 7kW AC charger or in 50 minutes with an 11kW AC charger. Charging is even faster using DC charging stations. Using a 50kW DC fast charger will allow EV6 owners to reach

80 percent (from 10 percent) in 73 minutes while using a 350kW 800V DC charger would only take 18 minutes.

Charging stations availability

Th E Ayala Group recently rolled out 21 Ayala Land Charging hubs throughout Luzon, strategically located in malls, offices, estates, hotels, and industrial centers. These 22-kW AC and 60-kW DC fast chargers allow EV users to charge their vehicles in as fast as 2 hours fully. It is the company’s way of keeping its trust and long-term commitment toward carbon neutrality and alignment with the global and local directive shifting to electric vehicles.

Drive range

Th E EV6 GT-Line offers a fully-electric, zero-emission powertrain configuration with a long-range (77.4 kWh) high-voltage battery pack. The EV6 can travel over 500km on a single charge (based on the EPA rating). More so, there are already 21 Ayala Land Charging hu bs rolled out that are strategically located to ensure that EV users will always have a charging station nearby. Kia Philippines claims that even trips to Baguio City from Metro Manila (251 km) are possible and should quell any range-anxiety concerns (based on internal test runs).

Cost of Maintenance

AC CORDI n G to Kia Philippines, it is more

affordable to maintain an EV because it does not require engine oils, transmission fluids, and other lubricants that are needed by cars powered by internal combustion engines (ICE). The savings are significant, hence, more affordable. Based on the company’s presentation, over the course of five years, an EV6 will only need brake pads, brake fluid, AC filters, and wiper blades –summing up to around P25,000.

In contrast, a midsize SUV running on a conventional motor will need engine oil, filters, fluids, brake pads, wiper blades, belts, and coolants. Over five years, this will amount to roughly P110,000. Plus, of course, the fuel costs. The EV6’s range is 528km (with a 77Kwh battery pack). That amount of available drive range can be achieved with just P800 when charg-

ToyoTa’S aVT eCSTaTiC oVer inDuSTry rebounD

ACAR giant that forgets not to share the Yuletide’s festive mood through an intimate lunch with media folk is Toyota, with no less than the company’s top honcho never failing to grace the occasion. In his speech to mark the now-almost institutionalized event, Alfred V. Ty (AVT), the always dapper chairman of Toyota Motor Philippines (TMP), said that vehicle sales “have come back strongly,” adding that the peaceful elections and “pro-business policies of the new administration give us much hope and reason to be optimistic.”

he also said that november sales have breached the 8-percent mark, definitely an indication of the industry’s robust road to recovery after the two-year pandemic. here’s AVT in full:

“I am very happy to be able to wish you all the very best of the season- In PERSOn I wish you and your family a truly blessed and meaningful Christmas.

“After a rocky start as a result of the Omi-

cron virus spread in January, we have seen a resurgence in the automotive market. new vehicle sales have come back strongly especially due to the re-opening of the economy and return of pent-up demand in March. The peaceful elections and pro-business policies of the new administration give us much hope and reason to be optimistic.

“In fact, Toyota sales as of november are already 8% higher than pre-COVID while the automotive market is now 87% of preCOVID levels and catching up more quickly. I believe that the recovery could have been much further along if not for supply disruptions. We thank YOU - our friends in media - for standing with us through the years and throughout 2022.

“Indeed, we have much to be thankful for and there is much more that we can look forward to. Global economic disruptions and geo-political events are sending strong headwinds our way. We have overcome many crises in the past - including

ing at home versus P 2,400 of fuel cost (a midsize SUV covering a similar distance)

Safety concerns

Th E EV6 is the recipient of accolades which include the European Car of the Year 2022 Award and a 5-Star Euro n C AP rating. Safety features include Auto Emergency Braking Technology, Blind Spot Detection Technology, Rear Cross-Traffic CollisionAvoidance Assist, Lane Keeping & Following Assist Technology, Smart Cruise Control w/ Stop & Go, h i ghway Driving Assist, Safe Exit Assist, and 360-degree surround view camera.

More importantly, the Battery Management System (mounted low to the ground and on the floor) utilizes lithium-ion batteries. These are enclosed and resistant to large water splashes. The casing system has an IP66 international rating. It is one of the most common ratings for electrical enclosures with plastic hinges and waterproof gaskets.

The EV6 is also equipped with a watersensing system. In the unlikely event of water intrusion, it automatically shuts off the EV system if water exposure is beyond safety standards. For peace of mind, Kia Philippines has systems to diagnose whether an EV6 has been exposed to flooding. Moreover, EV6-specific equipment is available to address any of these concerns and has parts availability and world-class trained technicians.

COVID - and I am sure that we can also overcome these current ones– TOGET h ER, as we have always done.

“As we navigate our way to the future, TMP will be relentless in building mobility for all and moving the world. Members of the media, friends of Toyota, join me as we journey to the BETTER nORMAL, creating happiness for Filipinos. Let’s do this.

“Once again, I would like to greet all of you a MERRY ChR ISTMAS. I hope you and your loved ones stay safe. have fun! Mabuhay!

“Thank you very much. Maraming Salamat po!”

After the affair, Toyota top gun Vince S. Socco (VSS) teased me for seeing TMP executive Jing Atienza carry my stuff heading to my ride.

It brought back a glorious memory of decades back, when AVT himself carried my luggage going out of the airport in full view of VSS.

Reminding VSS of that unforgettable moment, he said: “Part of training…” That wispy teener-cum-porter-boy is now a full-fledged tycoon.

PEE STOP Colene Jalalon says honda’s happy holideals” promo has been extended up to December 31. Buy your fave honda model now and pay for it next year, with tempting financing schemes that will see your car released in a breeze. Visit www. hondaphil.com for more details.

Story & photos by Randy S. Peregrino

ThE Kia EV6 full-electric vehicle displayed during the 8th PIMS

ZErO -EMISSIOn under the hood