THE national government’s debt payments surged nearly threefold to P216.850 billion in October, driven by an almost eightfold increase in its amortization to lenders.
Data from the Bureau of the Treasury (BTr) showed debt service in October jumped by 178.87 percent to P216.850 billion from P77.760 billion in the same month last year.
Broken down, amortization, or the repayment of loan principal over time, shot up by 759.89 per -
cent year-on-year to P161.462 billion from P18.777 billion.
In October, the government settled P120 billion in amortization to domestic lenders while the remaining P41.462 billion went to foreign financiers.
I nterest payments, meanwhile, amounted to P55.388 billion in October, down by 6.09 percent from last year’s P58.983 billion.
As such, domestic sources were paid P35.334 billion in interest, 10.81 percent lower than the P39.619 billion shelled out last year.
Th is includes interest pay-
ments worth P2.766 billion for Treasury bills, P27.266 billion for fixed-rate Treasury bonds, P3.575 billion for retail Treasury bonds and P1.727 billion for others.
Meanwhile, P20.054 billion in interest payments were handed over to foreign debt sources, 3.56 percent higher year-on-year from P19.364 billion.
D uring the 10-month period, the government settled P1.860 trillion of its debt service bill, covering 91.76 percent of the P2.027 total bill.
Meanwhile, 10-month interest payments reached P638.681 billion, 23.03 percent higher than the previous year’s P519.107 billion.
D omestic lenders obtained P453.460 billion in interest payments while external creditors received P185.221 billion during the period.
The government’s outstanding debt hit P16.020 trillion as of the end of October 2024.
T his paid P1.221 trillion in amortization, which increased by 27.32 percent from P958.964 billion. Of the amount, P222.219 billion was spent for external debts and P999.739 billion for domestic debts.
GROWTH SEEN SLOWING DESPITE BSP RATE CUTS
By Cai U. Ordinario @caiordinario
THE additional rate cuts that will be implemented by the Bangko Sentral ng Pilipinas (BSP) will not be enough to boost the Philippine economy next year as a London-based think tank expects a slower pace of growth for household consumption and remittances.
C apital Economics sees Philippine GDP growing by 5.8 percent in 2025, a projection that is “below consensus.” For 2026, GDP expansion will be faster at 6.5 percent.
T he projected growth for 2025 is also below the government’s target of 6 to 8 percent, as per the latest assumptions made by the interagency Development Budget Coordination Committee (DBCC).
Admittedly, consumption is likely to be boosted by the drop in inflation and further cuts to interest rates, but we doubt the pace of consumption growth seen in the third quarter is sustainable,” Capital Economics said in its latest Asia Economic Outlook.
“ What’s more, growth in remittances— which accounts for nearly 10 percent of GDP in 2023—and exports will slow, amid weaker global growth,” it added.
C apital Economics said the government’s own fiscal policy will serve as a drag on economic growth.
See “Growth,” A2
By Malou Talosig-Bartolome @maloutalosig
ASPOKESMAN of the Chinese Defense Ministry has accused the Philippines of “stirring up trouble” in many areas in the West Philippine Sea (WPS).
Senior Col. Wu Qian, director of the Information Bureau of the Chinese Ministry of National Defense, claimed that the Philippines is “provoking” Chinese maritime forces to engage them in Ayungin Shoal, Escoda Shoal, Rozul Reef and Bajo De Masinloc.
“China’s position is clear and consistent: more provocations lead to stronger countermeasures; should the Philippine side stubbornly follow the wrong path, Chi-
na will never back down,” Wu said in a press briefing Friday in Beijing. Th e Chinese defense official said the Philippine ships “always have a full deck of reporters” whenever they transit or conduct resupply missions to the West Philippine Sea.
“ The real issue, however, is never about who has more reporters, but who has more legitimacy,” Wu said, stressing that the international treaties that defined the boundaries of the Philippines “do not include” the islands in the West Philippine Sea.
C hina reiterated that the “continuous provocation” of the Philippine government vessels in many areas in the West Philippine Sea were “instigated and sup -
ported” by the United States.
“ These farces have made it clear to the international community who is the destroyer of peace and stability in the South China Sea and who is the outright liar,” he said.
Philippine Coast Guard (PCG) Commodore Jay Tarriela, spokesman of the Task Force for the West Philippine Sea, deplored the “lies and misinformation” uttered recently by the China’s defense ministry spokesman.
Such statements coming from the Ministry of Defense are clear evidence of bullying. The People’s Republic of China aims to suppress the patriotic spirit of Filipino fishermen from accessing our Exclusive Economic Zone and to intimi-
date the Philippine government into withdrawing its humanitarian support for its own fishermen.
“Beijing is escalating its rhetoric by instructing its defense ministry to issue warnings about using stronger countermeasures if our Filipino fishermen and Philippine Coast Guard vessels venture into the West Philippine Sea,” Tarriela wrote in his X post.
Tarriela insisted that it is “monster size China Coast Guard Vessels” that are true aggressors against the smaller PCG vessels which are only deployed as support to the humanitarian missions to protect Filipino fishermen.
Beijing has no evidence of Washington D.C. supporting the Philippine presence, he added.
TBy Ada Pelonia
HE country’s meat imports rose by nearly 17 percent as of end-October on higher purchases of chicken, pork and beef from abroad.
Data from the Bureau of Animal Industry (BAI) showed that meat imports expanded by 16.84 percent to 1.19 million metric tons (MMT) from January to October this year, compared to the 1.02 MMT recorded in the same period last year.
The end-October figure is within striking distance of the 1.2 MMT imported by the Philippines for the whole of 2023.
According to the Meat Importers and Traders Association (Mita), meat shipments went up despite the volatility in foreign exchange.
“All this has happened despite the volatility of the exchange rate, whose effect will be felt in the New Year,” Mita President Emeritus Jesus Cham said via Viber. With imports still arriving as seen from the utilization rate of the container yards and the slow rate of return of empties, the importers will take stock of the remaining inventory after the Christmas sales and hope the market will remain exuberant,” he added.
Based on BAI data, chicken imports as of October 31 grew by
See “Meat,” A2
Available national disaster fund at P256.74M–DBM
By Reine Juvierre Alberto
SOME P256.74 million in calamity funds can still be accessed by government agencies for relief and rehabilitation services.
L atest data from the Department of Budget and Management (DBM) showed that P22.478 billion has been released from the national disaster risk reduction and management fund (NDRRMF), commonly known as calamity fund, as of the end of November.
of Finance (DOF)-Bureau of the Treasury obtained P2.160 million for the rehabilitation of Stone Masonry Seawall in Misamis Occidental damaged by shearling in 2022.
The Department of National Defense (DND) Office of Civil Defense was also allocated P150 million to cover the additional funding requirement of its QRF.
The think tank noted that paring down the country’s deficit-toGDP ratio will limit the budget’s impact on the economy.
Th e DBCC aims to reduce the country’s budget deficit-to-GDP ratio to 5.3 percent next year, 4.7 percent in 2026, 4.1 percent in 2027, and 3.7 percent in 2028.
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uptick in vegetable prices. He added that the thirdquarter growth has fallen short of expectations so a reduction in key policy rates may give the country’s economic performance a boost.
While a pause [or skip] remains possible, recent economic data and external developments have aligned in favor of monetary easing,” he said.
Calamity funds may be used for aid, relief and rehabilitation efforts to communities, as well as to repair and reconstruct damages from natural or human-induced calamities within the current or past two years.
Meat…
Of the P22.735 billion appropriated for the year, P256.74 million remains available until the end of the year.
In November, the Department
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8.55 percent to 389,952 metric tons (MT) from 359,230 MT. Mechanically deboned meat (MDM) accounted for a chunk of the shipments at 213,490 MT.
“Poultry may end the year
with a 30-percent overall increase. Chicken cuts are down perhaps due to high price of breasts and wings while the reimposed safeguard duty may have reduced the import of chicken livers,” Cham said.
The Department of Social Welfare and Development (DSWD) also received P875 million for the replenishment of its Quick Response Fund (QRF), the 10th time it asked for this year.
QRFs are standby budget allocations for agencies to immediately respond to crises.
Implementing agencies may request from the DBM the replenishment of their QRF when the balance has reached 50 percent, subject to the approval of the Office of the President.
Pork shipments accounted for the largest share of the country’s meat imports in the reference period as it jumped by 18.63 percent to 598,276 MT from the 504,308 MT recorded last year.
Cham noted that African swine fever (ASF) continues to affect local hog production, “while the lower duty on pork meat is making offal less attractive relative.”
During the 11-month period, the Department of Public Works and Highways obtained the highest amount in calamity funds worth P12.09 billion, followed by DSWD with P8.135 billion.
The Department of Agriculture is also among the top recipients as it obtained P500 million while the National Irrigation Administration received P450 million.
N ext year, calamity funds are set at P31 billion, 51.22 percent higher than this year’s P20.5 billion.
Beef imports registered the biggest jump during the period as shipments surged by 38.88 percent to 167,548 MT from 120,640 MT, the bulk of which consisted of beef cuts at 116,429 MT.
Beef made the most gains with a whopping 38-percent increase [year-on-year]. It may end the year with a 50 percent increase. Clearly, we see the markets appreciating more the value of this red meat,” Cham said.
He also noted the uptick in shipments of hindquarters at 840 MT, despite buffalo registering a 1.9 percent decline to 33,007 MT in the reference period from 33,647 MT last year.
The country did not import this type of buffalo meat in 2023, based on BAI data.
Buffalo looks a bit flat. However, the importation of hindquarter cuts is a new phenomenon that bears looking into,” he said.
Another drag will come from tighter fiscal policy. The government is aiming to reduce the budget deficit, which rose sharply during the pandemic. Overall, our forecast is for below-consensus GDP growth of 5.8 percent in 2025,” Capital Economics said.
Growth, meanwhile, will be driven by lower inflation which is expected to average 2.8 percent next year and 3.3 percent in 2026. Both these projections are within BSP’s 2 to 4 percent target.
Given this, Capital Economics expects the central bank to continue the easing cycle it began in August 2024 with a reduction of 25 basis points (bps) and another 25bps cut in October 2024.
For 2025, the London-based think tank said the BSP may cut interest rates by 100 bps, which will place key policy rates at 4.75 percent by the end of next year.
We expect it [inflation] to remain low over the coming quarters due to a combination of weaker economic growth and a decline in food inflation. Core inflation— which is a better measure of underlying price pressures—will also remain stable,” it said.
Meanwhile, Bank of the Philippine Islands (BPI) Senior Vice President and Lead Economist Emilio S. Neri Jr. said he expects the BSP to deliver a 25-bps reduction in key policy rates this week.
Neri said the inflation outlook for next year now supports the case for lower policy rates. Inflation is expected to remain within the BSP’s targets despite the recent
Investments…
T he CARS program is a government stimulus program that aims to revive the country’s declining manufacturing sector by specifically targeting the automotive industry, given its strong linkages to other industries.
A ccording to Executive Order No. 182 issued by the late President Benigno S. Aquino III in 2015, brands participating in the program should produce at least 200,000 vehicles per enrolled model within six years to qualify for fiscal support from the government.
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Toyota and Mitsubishi enrolled Vios and Mirage, respectively, in the incentives program.
Meanwhile, Peza Director General Tereso O. Panga “reassured” TMP and TSEZ locators as well as their suppliers of the agency’s continued support to their investment and business endeavors for years to come.
Panga also encouraged the Toyota Group and their suppliers to take advantage of what the Peza chief called the “most generous tax regime” in
Creation…
Data presented by the Philippine Statistics Authority (PSA) indicated an oversupply of rice, with the demand-supply ratio dropping from 82.5 to 69.4 this year.
Despite ample supply, PSA reported that the price of regularmilled rice decreased only slightly from P50.16-50.40 in October to P49.44 in the early part of last month.
Marikina City Rep. Stella Quimbo said rice prices remain artificially high despite abundant supply and reduced import tariffs under Executive Order 62. “ The rice stocks are more than enough, so why aren’t the prices dropping? It’s clear that there is collusion between importers and traders,” she said.
Meanwhile, Salceda, an economist, said rice prices should already stabilize at P35 per kilo, following the significant drop in the landed cost of imported rice,
Continued from A16
now averaging P33.95 per kilo.
L awmakers accused certain importers and traders of conspiring to hoard rice stocks, artificially inflating prices while reaping billions in profits.
A gap Rep. Nicanor Briones alleged that two major companies— RBS Universal Grains Traders Corp. and Sodatrade Corp.—imported a combined 273,000 metric tons of rice under purportedly suspicious arrangements.
I n response, Romualdez directed the Quinta Comm to expedite legislation, including amendments to strengthen the Anti-Agricultural Smuggling Act of 2016. He also urged the DOJ and the Philippine Competition Commission (PCC) to hold perpetrators accountable.
This is not just an economic issue—it’s a matter of food security and national stability. The House
Neri also expects the BSP to cut rates in 2025 as the latest economic data will support this move. However, he noted the risks facing the economy next year.
He said should the Trump administration impose “massive tariffs and deportation,” this could worsen inflation in the US and delay policy rate cuts or reverse recent monetary policy easing by the Federal Reserve.
Neri said one adverse scenario could prompt central banks across the globe to pivot to monetary tightening to fight rising inflation.
Earlier, the Asian Development Bank (ADB) said policies of the incoming Trump administration, particularly those on trade, will likely impact China and developing countries in Asia like the Philippines beginning in 2027. (See: https://businessmirror.com. ph/2024/12/12/adb-trump-policies-likely-to-impact-china-phlin-2027/)
Based on the December Asian Development Outlook (ADO), ADB said Trump’s policies could affect China’s economy the most, causing it to slow by 1.2 percentage points over 2025–2028 or 0.3 percentage points per year.
Th is will likely lead to a 0.6 percentage point decline in the growth of developing countries in Asia like the Philippines. Growth in the Euro area and Japan are also expected to decline but at a slower pace of 0.4 and 0.5 percentage points, respectively.
Asean and help the investment promotion agency in its move to attract more automotive investors in the Philippines.
“This approach by TMP of bringing in their supply chain to the Philippines exemplifies the thrust of PEZA in encouraging manufacturers to consolidate their allied down stream partners into our zones,” Panga said. TMP’s head office and manufacturing plant are located inside the 82-hecctare Toyota Special Economic Zone in Santa Rosa City, Laguna.
will use all its powers to hold these cartels accountable, protect our farmers, and bring affordable rice to Filipino households,” Romualdez emphasized.
“ We will not stop until justice is served and the rice industry is free from corruption. The days of exploitation are over,” he added.
The Speaker also called for the Department of Agriculture (DA) to intensify monitoring of rice stockpiles and ensure that surplus stocks are released into the market to stabilize prices.
The Quinta Comm, created by virtue of House Resolution (HR) No. 2036 introduced by Speaker Romualdez and Senior Deputy Speaker Aurelio Gonzales, is composed of the House Committees on Ways and Means, on Trade and Industry, on Agriculture and Food, on Social Services, and the Special Committee on Food Security, with Ways and Means panel chair Salceda leading the inquiry.
The panels are tasked with addressing weaknesses in government programs and ensuring accountability for market abuses.
Editor: Nonnie Pelayo
PSA report: Almost two-thirds of recipients of OVP confi funds have no birth records
By Jovee Marie N. dela Cruz @joveemarie
NEARLY two-thirds of individuals listed as recipients of P500 million in confidential funds from the Office of the Vice President (OVP) under Vice President Sara Duterte lack birth records, intensifying allegations of possible fraudulent transactions akin to the infamous “Mary Grace Piattos” case.
Verification done by the Philippine Statistics Authority (PSA), commissioned by the House
Committee on Good Government and Public Accountability, revealed that 1,322 out of 1,992 individuals tied to the OVP’s confidential fund expenditures had no birth records in the national database. Only 670 names had potential matches, according to PSA findings. Beyond birth records, the PSA discovered that 1,456 individuals had no marriage records, while only 536 were linked to existing entries. Regarding death records, 1,593 were untraceable, with just 399 entries showing probable matches.
Veloso back in few days
By Malou Talosig-Bartolome
THE Department of Foreign Affairs has confirmed that Indonesian authorities are now processing the transfer of Filipino convict Mary Jane Veloso to Philippine authorities, prompting the Philippine Embassy in Jakarta to cancel the visit of her family starting Monday.
The parents of Mary Jane, Celia and Cesar, and her two children were earlier allowed to have a compassionate visit on Monday until Wednesday. However, on Sunday past 9:00 a.m., the DFA Office of Migrant Workers Affairs called the Veloso family to inform them that their scheduled visit is cancelled. Foreign Affairs Undersecretary
The PSA’s findings were disclosed in a December 11 letter by National Statistician and Civil Registrar General Undersecretary Claire Dennis Mapa to Manila Rep. Joel Chua, chairman of the House Committee on Good Government and Public Accountability.
The scrutinized names appear on acknowledgment receipts (ARs) submitted by the OVP to the Commission on Audit (CoA) to account for its confidential fund expenditures from late 2022 through the third quarter of 2023.
Eduardo de Vega confirmed this in a message to BusinessMirror.
“The transfer of Ms. Veloso from Indonesia to the Philippines is now being processed. Hence, while the compassionate visit of Ms. Veloso’s next of kin, supposedly scheduled on December 16 to 18, will not be pushing through, the Philippine government requests the family’s continued patience and understanding as it arranges for the best opportunity for them to meet with Ms. Veloso when she is finally back on Philippine soil,”
Chua said the PSA report bolsters suspicion that these receipts may have been fabricated.
“This certification from the PSA leaves little doubt—if these names cannot be found in the civil registry, it strongly suggests they do not exist. The ARs may have been manufactured to justify the disbursement of confidential funds,” he said.
He added, “These findings raise a critical question: if the recipients don’t exist, where did the money go? This is not just a clerical error; this points to a deliberate effort to misuse public funds.”
de Vega said.
In Jakarta, the Indonesian senior minister in charge of coordinating the ministries of law, human rights, immigration and corrections said they were informed by the Philippine government that the death sentence imposed by the Indonesian court on Veloso will be changed to life imprisonment.
“The Indonesian government respects the decision of the Philippine government,” Yusril Ihza
The verification follows earlier PSA findings that revealed discrepancies in records tied to separate P112.5-million confidential funds disbursed by the Department of Education (DepEd) during Duterte’s term as Secretary in 2023.
Out of 677 names investigated in that case, 405 had no birth records, 445 lacked marriage certificates, and 508 had no death certificates.
ACONGRESSMAN said on Sunday that the failure of the Department of Education to use up its P11.36 billion budget for computerization in 2023 prompted the House of Representatives to cut the allocation by P10 billion next year.
1-Rider Rep. Rodge Gutierrez, a member of the House Committee on Appropriations, cited a Commission on Audit (COA) report showing that DepEd disbursed only P2.075 billion of its P11.36 billion 2023 budget for information and communications technology equipment.
The name, which many noted as a mashup of a popular restaurant and snack brand, has since come to symbolize the alleged irregularities in the use of confidential funds.
Another name, “Kokoy Villamin,” appeared in both the OVP and DepEd receipts but with inconsistent signatures. Just like Piattos, the PSA confirmed that Villamin also has no records in the civil registry, further fueling suspicions of fabricated recipients.
One name in the DepEd receipts, “Mary Grace Piattos,” became a symbol of public skepticism after the PSA confirmed that no such individual exists in its civil registry database.
DepEd was headed by Vice President Sara Duterte at the time. Secretary Juan Edgardo Angara replaced her. “This isn’t just inefficiency—it’s negligence,” Gutierrez stressed. He added that DepEd’s failure to deliver on its mandates justifies Congress’s decision to reallocate funds,” he said. Also, Gutierrez said DepEd ICT Director Ferdinand Pitagan admitted during a September budget hearing that 12,022 laptops
“DepEd,” A4
Angara inherits problem left by Sara at DepEd
December 16, 2024
Editor: Nonnie Pelayo •
Think tank stresses private sector role in energy transition
By Rizal Raoul Reyes @brownindio
THINK tank Stratbase group on Sunday stressed the important role of the private sector to enable the country to transform to green energy.
Stratbase group chief operating officer Rupert Paul Manhit said the Philippines offers a lot of opportunities for private investors to develop sustainable projects for the country in its energy transition.
Energy transition is defined as the huge shift on how the country can produce, distribute, and consume energy. Furthermore, it is withdrawing from traditional fossil fuel-based systems to cleaner, more sustainable energy sources. The transformation is being pushed by the need to address climate change, reduce
greenhouse gas emissions, and improve energy security.
Energy transition is important for the following reasons
n Climate change mitigation: Reducing greenhouse gas emissions to limit global warming.
n Improved air quality: Cleaner energy sources lead to healthier environments.
n Energy security: Reducing dependence on fossil fuels, which can be subject to geopolitical instability.
n Economic opportunities: Creating jobs and driving innovation in the clean energy sector.
Nevertheless, energy transition is a complicated and ongoing process that requires significant investment, technological advancements, and policy changes.
Manhit cited the recent visit of a huge Canadian trade mission to explore the opportunities in sustainavble energy.
“Canada has been a trusted and reliable partner of the Philippines on energy transition, and the presence of Canada’s largest-ever trade mission to the Philippines reflects a growing recognition of the country’s immense potential as an investment destination,” he said.
“With the Philippines’ power generation sector being almost entirely privately owned, there is a unique opportunity for private entities to lead in driving this transformation. This leadership will not only advance our clean energy ambitions but also bolster energy security and economic
growth,” Manhit explained.
The Stratbase group recently, in partnership with the Embassy of Canada to the Philippines and Natural Resources Canada, organized the Philippines-Canada Forum on Energy Transition. The forum also hosted some of the delegates from the largest ever Canada trade mission to the Philippines, with over 300 Canadians from more than 190 business organizations.
Paul Thoppil, the Canadian government’s Indo-Pacific Trade Representative, reiterated Ottawa’s support to the Philippines’ energy transition, noting the growing alignment of Canada’s development assistance on climate action.
“We have created, with the Asian Development Bank (ADB), the Canadian Climate and Nature Fund for the Private Sector in Asia. And for the first time ever, Canada’s Development Finance Institution (FinDev), has been given geographic expansion into the [Indo-Pacific] region,” Thoppil said.
Canada is also the second largest donor to the Climate Invest-
Group warns vs harmful axilla whitening creams
By Jonathan L. Mayuga @jonlmayuga
ATOXICS and waste watch -
dog group on Sunday reit -
erated its call to consumers to avoid using skin-whitening lotions and creams as they are often laced with harmful chemicals such as mercury, a healthdamaging chemical forbidden in cosmetic products.
The group issued the warning as it uncovered the illegal sale of another product for whitening axillae that contains mercury.
“The year is about to end, and we continue to discover unauthorized products with hidden mercury ingredients in brazen violation of the ban on mercury use in cosmetics such as skin-lightening products,” said Aileen Lucero, national coordinator of EcoWaste Coalition.
“The detection of mercury in more underarm creams is problematic as many Filipinos are fond of using products to lighten the armpits,” she added.
The group has been tracking mercury-laden cosmetics, par -
ticularly skin lightening products, which pose serious threats to human health and the ecosystems. Its findings are promptly reported to the Food and Drug Administration (FDA) for law enforcement action.
For its latest discovery, the EcoWaste Coalition found mercury in Q-nic Care Whitening Underarm Cream that it bought from an online seller for P120.
Manufactured in Thailand on March 28, 2024, with lot number 0005 and weighing eight grams, the product claims it “reduces body odor while providing whitening effect and smooth skin.” Despite its mercury content, the product is touted as “safe for all skin types.”
To determine if the product contains mercury, the group used a handheld X-Ray Fluorescence (XRF) analyzer, a point-and-shoot scientific device that can identify and measure heavy metals and other chemicals of concern.
As per XRF analysis, Q-nic Care Whitening Underarm Cream contains 6,109 parts per million (ppm) of mercury, which
far exceeds the legal limit.
The maximum limit for mercury as a heavy metal contaminant in cosmetics is one ppm under the Association of Southeast Asian Nations (Asean ) Cosmetic Directive, which lists mercury among the substances not allowed in the composition of cosmetic products.
Exposure to the inorganic mercury in skin lightening products, according to the World Health Organization (WHO), may result in kidney damage, skin rashes, discoloration and scarring, reduced skin’s resistance to bacterial and fungal infections, as well as anxiety, depression, psychosis and peripheral neuropathy.
Q-nic Care Whitening Underarm Cream is the second Q-nic product that was found adulterated with mercury by the EcoWaste Coalition. On November 28, the group revealed that Q-nic Care Whitening Night Cream contains 4,113 ppm of mercury.
It is also the third mercurytainted underarm cream examined by the group.
Previous chemical screenings
also found 88 Total White Underarm Cream and Snow White Armpit Whitening Underarm Cream contaminated with high levels of mercury.
These underarm whitening creams are offered for sale without FDA market authorization in violation of Republic Act No. 9711 or the Food and Drug Administration Act, the group said.
To avoid mercury exposure through the use of adulterated skin-lightening products, the EcoWaste Coalition reminded consumers to:
n Consult a doctor if you are using mercury-added skinlightening products.
n Exercise caution when purchasing cosmetics online or offline, and beware of unauthorized, counterfeit, and adulterated products being offered for sale.
n Be wary of products making over-the-top claims such as immediate and miraculous results, no side effects, and 100 percent safety.
HE Civil Aviation Authority of the Philippines (CAAP) has demonstrated its commitment to environmental sustainability and aviation safety by successfully concluding a threeday Airport Wildlife Management Course at the Civil Aviation Training Center late last week. This initiative underscores CAAP’s proactive approach to addressing wildlife hazards,
. .
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Mahendra, coordinating minister, told reporters in Indonesia. Veloso’s parents say they are looking forward to finally reuniting with Mary Jane in the Philippines.
DepEd. . .
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for teachers and 7,558 for non-teaching personnel remained undelivered by end-2023.
“And that’s just for 2023; we’re not even talking about the computerization budget for 2024, and the year is almost over,” Gutierrez said.
ment Funds—Accelerating Coal Transition Initiative, which is providing up to $500 million in development assistance to the Philippines in support of the country’s energy transition.
Thoppil emphasized the importance of the partnership between Canada and Philippines in energy transition, including in the commercial sector.
“For a commercial relationship to thrive, it needs to be sustainable between two countries. And therefore, for Canada, we believe in capital flow and technology transfer flow that is between the Philippines and Canada. We acknowledge the capital and the technology that exists in your country that we can benefit from as well,” Thoppil said.
Canada is an energy powerhouse, be it in hydro, liquefied natural gas (LNG), nuclear, biomass and more.
such as bird strikes, which pose significant risks to aircraft. By equipping its personnel with specialized knowledge and skills in wildlife management, CAAP aims to enhance airport operations, improve air traffic safety, and protect local biodiversity, the agency said.
CAAP Director General Manuel Antonio Tamayo emphasized the importance of this course, stating, “Through this training, we expand our understanding of
Kami mga magulang at anak ni Mary Jane ay nanghihinayang na hindi kami matutuloy sa pagbisita kay Mary Jane dahil napaghandaan po namin ito at nasasabik namin syang makasama makalipas ng isang taon mula ng huli naming bisita sa kanya Gayunpaman kami ay masayang
Meanwhile, Gutierrez dismissed the objections raised by Angara, who criticized the budget cut.
“Secretary Angara may argue that education funding is sacrosanct, but Congress cannot keep throwing good money after bad. This is not about depriving education; it’s about ensuring proper fund use and accountability,” Gutierrez stressed.
“While it’s unfortunate that Secretary
wildlife hazards and implement strategies to mitigate these risks, ultimately leading to more efficient operations and safer air travel.”
The course intersects with the growing challenges posed by climate change.
“Shifting migratory patterns and altered bird populations have increased the frequency of bird strikes, potentially causing aircraft damage, flight delays, and, in rare cases, fatalities,”
masaya dahil malapit na ang pag uwi ni Mary Jane sa ating bansa ,” Celia and Cesar said in a statement released by nongovernment organization Migrante International. The DFA asked the public and the media to “continue to pray” for Veloso and her “imminent return to the Philippines.”
Tamayo said. CAAP expressed its gratitude to Mastermark, whose expert wildlife management specialists provided comprehensive training on various techniques to minimize wildlife-related incidents at airports.
As the aviation industry strives for a more sustainable future, CAAP remains dedicated to balancing safety, efficiency, and environmental protection, Tamayo added.
“The Philippine government is working hard, together with the Indonesian government, to make this happen as soon as possible. Ms. Veloso’s safe and orderly transfer to the Philippines to be in the care of our government is paramount at this time,” de Vega said.
Sonny [Angara] inherited the problems and scandals left behind by his predecessor, Vice President Sara Duterte, he knows that the law is clear: unused funds must be accounted for before new allocations can be made. Now that he’s education secretary, he should focus on fixing DepEd’s internal mess instead of crying foul about budget decisions,” he said. The controversy builds on the procurement fiasco under Duterte’s term, where allegations of overpriced and insufficient laptops drew heavy criticism.
“The excuses are wearing thin,” Gutierrez said. “We know it’s extremely difficult for Secretary Angara to defend DepEd’s lack of action when the Philippines is already at rock bottom in global education rankings. A teacher-to-computer ratio of 30:1 is unacceptable, and we have VP Sara to blame for it.” Jovee Marie N. dela Cruz
“Canada and the Philippines share a commitment to sustainability and innovation. Canada’s expertise in renewable energy and nuclear power and grid modernization presents immense opportunities for knowledge sharing and economic transfer,” Guevara said.
Environment Undersecretary Analiza Teh also stressed the importance of collaboration between the Philippines and Canada to achieve sustainability, particularly in energy transition.
“International partnerships with bilateral and development partners are essential, particularly in providing experts for policy recommendations, technical studies, and modeling to complete these studies effectively. Additionally, mobilizing the private sector is crucial,” Teh said.
“We hope development partners can support countries in aligning private sector sustainability goals with government and climate objectives,” she added.
Energy Undersecretary Rowena Cristina Guevara said Canada’s development assistance and commercial initiatives could provide critical support for the Philippines’ energy transition, which includes nuclear power.
Power fully restored in Siargao
By Lenie Lectura @llectura
THE Siargao Electric Cooperative Inc. (Siarelco) has fully restored power to its entire franchise area, the National Electrification Administration (NEA) reported on Saturday. NEA said in a statement that the electric cooperative used a four-megawatt (MW) modular generator set to speed up power restoration.
NEA administrator Antonio Mariano Almeda, who visited Siargao on Saturday, said the genset was part of the “imported alternative sources of electricity delivered by neighboring electric cooperatives to Siarelco.”
“I commend your resilience in trying to adapt to the situation in a speedy manner. This would enable the member-consumerowners of Siarelco to welcome the upcoming holidays with ease,” said Almeda.
Early this month, a major line fault occurred in one of Siarelco’s undersea cables, which caused widespread power outage affecting many households and businesses for 13 days.
The NEA chief also inspected the unloading, installation and commissioning of the eightMW gensets from Agusan del Norte Electric Cooperative, Inc.
(Aneco) to serve as additional power supply. The provincial government of Surigao del Norte earlier placed Siargao and the Bucas Grande Islands under a state of calamity because of prolonged power outages since December 1.
“We seek the urgent intervention of the NEA to address the prolonged power outage affecting the entirety of Siargao and Bucas Grande Islands,” said Gov. Robert Lyndon Barbers said in a letter to Almeda.
Barbers said the power crisis has disrupted daily livelihoods and caused significant disruptions, particularly to tourism establishments. “Without a clear recovery plan and expert intervention, the situation is likely to deteriorate further, jeopardizing both public welfare and the islands’ economic stability,” he added.
Under Republic Act 1531, NEA is empowered to strengthen electric cooperatives and ensure reliability electricity service in rural areas.
“In this time of crisis, we remain hopeful that NEA will provide the necessary assistance to help our communities recover and build a resilient energy system. Please know that [provincial] government is ready to work closely with NEA to ensure the swift resolution of this issue,” said Barbers.
Standardized implementation of PWD, student discount sought
By Lorenz S. Marasigan @lorenzmarasigan
THE government ought to enforce a standardized implementation of discounts for students, senior citizens, and persons with disabilities (PWDs) across all ride-hailing platforms, the Coalition of Filipino Commuters (CFC) said.
CFC Chairman Ira Panganiban urged the Land Transportation Franchising and Regulatory Board (LTFRB) to take immediate action, citing inconsistencies in how transport networking companies (TNCs) apply these legally mandated discounts.
Panganiban said the group received complaints and social media reports that platforms such as Grab, InDrive, Angkas, Maxim, Joyride, and MOVE IT fail to implement the discounts uniformly.
“The lack of standardization and oversight in discount implementation makes it more challenging for Filipino students,
senior citizens, and PWD commuters to access the discount,” Panganiban lamented, warning that some platforms allegedly fail to offer the discount altogether.
“[This]constitutes a flagrant violation of the law and an exploitation of commuters,” he added. The highlighted that the inconsistency not only denies eligible commuters financial relief but also complicates the verification process, increasing the risk of fraudulent claims and potentially affecting driver earnings.
“As digital ride-hailing continues to gain traction in the Philippines, the CFC emphasizes the urgent need for the LTFRB to scrutinize all ride-hailing platforms meticulously. By spearheading the standardization of discount applications, the LTFRB can ensure equitable access to mandated discounts and uphold the rights of Filipino commuters,” Panganiban said.
The LTFRB has yet to respond to requests for comment.
Veloso.
Editor: Jennifer A. Ng
Govt keen on program to boost sugar prices
TBy Ada Pelonia @adapelonia
HE government may implement another round of its sugar voluntary purchase program to stop the decline in millgate prices, according to the Sugar Regulatory Administration (SRA).
SRA Administrator Pablo Luis Azcona said the program would offer traders a chance to purchase raw sugar at a premium. In return, participants get allocation for future import programs.
could buy raw sugar at a premium price which would then be temporarily classified as “C” (reserved sugar) to ensure reasonable and stable prices.
“This will make the playing field a lot more level and fair,” Azcona said.
He said recently that the regulatory agency is ready to probe the falling millgate prices despite the low supply of sugar. (See: https://businessmirror.com. ph/2024/12/10/sra-to-probedrop-in-millgate-prices/)
The SRA chief made this statement after a lawmaker urged the government to stabilize falling sugar prices.
“We have to remember [that] 85 to 90 percent of our farmers are small farmers [tilling] one to two hectares...the current pricing is at breakeven or even lower than their cost to produce,” Azcona said.
“We are coming from bad weather, higher [production] costs, lower yield, and yet our prices are exceptionally low.” Azcona said the ideal price should range from P2,650 per bag to P2,728 per bag, offering planters a slightly better margin.
He also expressed the concern that farmers would shift to planting other crops if the chance to earn will not come.
Last March, SRA issued Sugar Order (SO) 2 for crop year 20232024 which opened the first voluntary purchase program. Under the order, eligible participants
“We’re studying what we did last year and finding ways to improve it. [We want to] make sure that anybody can participate in the program as long as they have a domestic trading license,” Azcona told reporters in an interview.
He said the lowest millgate price on record was P2,400 per 50-kilo bag, which amounts to less than P50 per kilo.
Azcona noted that the stock
DA: Ducks, chickens near infected farm test negative for bird flu
DUCKS and chickens within the 1-kilometer radius of the farm where the H5N2 strain of bird flu was first detected tested negative for the virus, according to the Department of Agriculture (DA).
The Bureau of Animal Industry (BAI) recently announced the first detection of the H5N2 strain of avian influenza in the country and triggered disease control measures to curb its spread.
BAI said the highly pathogenic avian influenza (HPAI) type A subtype H5N2 was found in a duck farm in Talisay, Camarines Norte.
According to DA Bicol Regional Executive Director Rodel Tornilla, all 137 oropharyngeal swab samples collected from domestic avian species around the 1-kilometer area yielded negative
results for bird flu.
Tornilla said that the 1-kilometer radius surveillance areas from the two ground zeros included the barangays of San Nicolas, Binanuaan, and San Francisco in Talisay; barangays Awitan and Gahonon in Daet; and Barangay Ginacutan in Vinzons.
The oropharyngeal swab samples were taken from domestic avian species such as ducks, gamefowl, and chickens from various owners in the said barangays.
Meanwhile, the agency said DA Bicol Regional Quick Response Team (RQRT) will continue to conduct active surveillance in the next 7-kilometer radius from the two ground zeros in the province.
“The public is still urged to observe biosecurity measures, such as proper handwashing after exposure to any kind of birds.”
Meanwhile, the DA recently assured the public that the new strain detected would not cause a spike in egg and chicken prices.
“It will not have an impact [on] prices,” Agriculture Assistant Secretary Arnel de Mesa told reporters, noting that it would also not lead to a decline in consumption.
“We do not expect [chicken or egg consumption to decline] because again, this is not the first time we have had a case of highly pathogenic avian influenza in the country.”
De Mesa explained that the H5N1 strain is more “virulent” and contagious compared to the H5N2 strain, adding that it is also “less likely” to be transmitted to humans.
“If you look at our cases, our bird flu incidences are easily controlled. Once it is controlled, a
level of raw sugar stood at 150,000 metric tons (MT) while refined sugar was 300,000 MT.
He said these numbers were higher than raw and refined sugar
declaration of bird flu-free status is also made for the area,” he said in Filipino.
The DA official noted that the BAI is conducting an ongoing investigation to determine how the strain arrived in the country.
“The investigation by the Bureau of Animal Industry is ongoing to determine how H5N2 arrived since this is the first time this strain of HPAI has reached our country,” De Mesa said.
He added that culling operations on infected animals in the area have already been conducted.
BAI said all disease control measures are being coordinated closely with the agency.
“Rest assured that BAI is committed to protecting Philippines’s poultry industry from the threat of avian influenza and will maintain close cooperation with other government agencies and stakeholders,” it said.
“We encourage the public to remain vigilant and report any unusual poultry deaths or signs of illness to local authorities for immediate action.” Ada Pelonia
SPDA ties up with SMC for Davao del Sur poultry farm
By Manuel T. Cayon @awimailbox
DAVAO CITY—The Southern Philippines Development Authority (SPDA) has partnered with San Miguel Corp. (SMC) to put up a poultry farm in Davao del Sur, the Philippine Information Agency said.
In its regular news dispatch, the PIA said the two parties inaugurated the project in Barangay Labon, Municipality of Sulop, Davao del Sur.
The poultry farm consists of two poultry houses which can accommodate 40,000 heads of broiler chicken per house.
The project aims to provide an adequate supply of chicken in Mindanao and to increase broiler chicken production in
Davao Region that would help stabilize the prices of chicken in the market, the SPDA said.
The agreement would have the SPDA undertake the production side while San Miguel, a known provider of poultry an dairy meat and other products would buy the poultry produced at the farm.
The SPDA said San Miguel has its own poultry farm in the province to meet its own corporate production targets. Its poultry farm in Hagonoy town is the largest poultry production site in the country.
“There was a feasibility study before that there was a shortage of chicken in Mindanao, that is why even San Miguel Corp. put up a big poultry farm here in Davao del Sur. And SPDA was also in the past years in the poultry busi -
ness,” said SPDA Administrator and Chief Executive Officer Abdulghani Gerry Salapuddin.
He said San Miguel will supply the poultry farm project with the chicks, the technology including technical support. “And then all the products that we produce they buy from us. So, they’d be the one to market and distribute it in Mindanao.”
SPDA has allocated P54 million for the first phase of the project and said it would allocate another P98 million for the expansion.
Salapuddin said the project should have taken off two years ago but the initial plan to establish it in Zamboanga City did not materialize due to the disagreement with the land owners.
“I told our executive committee to look for an alternative site
outside Zamboanga City which is near the city center but far from the populated area and finally Mr. Cris Dagala, project manager found this lot,” Salapuddin said.
Senator Ronald dela Rosa, who was the guest of honor when the project was inaugurated last month, has asked SPDA to ensure that local residents are employed in the farm.
“With this project there is a big chance that people those that are idle could gain employment given the right training, the right skills and improvement required for the job.”
He said Sulop town used to have peace and order problems and that the project could ease the plight of residents as he also assured the SPDA of his support to any of its development initiatives to help the local government.
Cherry boom has Chile predicting record agri shipments
“The outlook is very positive,” Agriculture Minister Esteban Valenzuela said in an interview Thursday. “The cherry boom is going to continue.” He expects a 15-percent jump in total agriculture shipments for the season. Exports are set to exceed $7 billion for fruit, $12 billion for all farm products including wine and $20 billion when forestry is added in.
plagues and avoid unseasonal downpours.
Authorities have also struck deals to reduce barriers in China and Europe at a time when health-conscious consumers are pushing up demand.
After sizable investments in irrigation and processing facilities, growing areas have expanded in the country, especially in the case of cherries. Groups from China, the biggest cherry buyer, are leasing and
buying land in Chile, Valenzuela said. Italian confectioner Ferrero, the maker of Nutella, has built a second hazelnut plant in Chile, while Portugal’s Sugal Group is developing a new tomato paste facility. Nestle SA and local group Agrosuper SA are also investing. Olive oil is another hot product attracting attention. On the trade side, India is “very strategic for us,” Valenzuela said, citing that country’s appetite for Chilean walnuts despite high tariffs. Fake used cooking oil US lawmakers are ratcheting up pressure
on the Environmental Protection Agency to stem the flow of suspected fake foreign used cooking oil that could be undermining American soybean farmers.
“We have significant concerns about the existing verification process,” six senators, including Iowa Republican Joni Ernst and Minnesota Democrat Amy Klobuchar, wrote in a letter to EPA Administrator Michael Regan seen by Bloomberg.
Historic levels of the oil, or UCO, have been flooding into the US and cutting into demand for US-grown ingredients, such as soybean oil, that are essential for making
stocks two years ago at 178,000 MT and 228,000 MT, respectively. However, millgate prices at the time settled at over P3,000 per 50-kilo bag.
“The whole industry will basically dwindle and disappear if we no longer have sugarcane. Globally, the sugar supply is also decreasing. So we cannot be dependent on outside sources all the time.”
Asean nations must rethink farm practices–solon
By Jovee Marie N. Dela Cruz @joveemarie
THE chairman of the House Committee on Aquaculture and Fisheries Resources said there is a need for Asean nations to reassess their agricultural practices in response to escalating challenges posed by climate change, rapid population growth, and other threats to regional food security.
Speaking during the Asean Guidelines on Promoting Responsible Investment in Food, Agriculture, and Forestry meeting, committee chairman Brian Raymund Yamsuan stressed the importance of sustainable investments in food, agriculture, and forestry, advocating for a unified effort involving governments, civil societies, private sectors, and parliamentarians.
“Parliamentary leadership is crucial in driving the policy reforms needed to enhance food security and mitigate the adverse impacts of climate change on our food systems. It is incumbent upon us, as elected representatives, to champion policies that incentivize sustainable agricultural practices, promote agro-ecology, safeguard biodiversity, and provide support to farmers and rural communities,” said Yamsuan.
The event is the third in a series of meetings held this year to discuss the effective implementation of the Asean-RAI. The meetings, which began in April, were organized by the Asean Inter-Parliamentary Assembly (AIPA) in coordination with the Food and Agriculture Organization of the United Nations (FAO) and the International Institute for Sustainable Development (IISD).
As chairman of the House of Representatives Committee on Aquaculture and Fisheries Resources, Yamsuan represented the Philippines in these meetings.
He said the resource-rich Asean region is now facing challenges brought about by “rapid population growth, urbanization, changing consumption patterns, dwindling natural resources, and the impacts of climate change,” which prompt the “immediate and profound reevaluation of our agricultural practices.”
On the part of the Philippines, he said Manila has long been committed to ensuring responsible and sustainable investments in food, agriculture, and forestry, as these are vital in reducing poverty, ensuring climate resilience, and protecting the environment.
“Our legislative measures and strategic partnerships are reflective of these priorities,
renewable fuels. There is widespread suspicion some of the imported products are being blended with virgin vegetable oils like palm, which is linked to deforestation in Southeast Asia. The push by the lawmakers comes as the biofuel industry awaits US government guidance on a new “clean” fuel tax credit set to take effect next month. A bipartisan group of senators earlier this year urged Treasury Secretary Janet Yellen to ensure that only biofuels made with domestic ingredients can benefit from the incentive. Donald Trump’s victory in November is adding to the uncertainty as
and we intend to further this cause not only for our country’s benefit but for our region as a whole.”
He said one of the Philippines’ key legislative contributions to the Asean goal of incentivizing sustainable agricultural practices is the recently enacted Republic Act (RA) 12078, or the Rice Stabilization Act. Yamsuan is one of its principal authors. RA 12078, which amends the Agricultural Tariffication Act, aims to ensure rice price stability and triples the government’s budget for agricultural modernization and assistance to small farmers from P10 billion to P30 billion.
Yamsuan said the Philippines has also passed three laws under the present Congress to establish multi-species fish hatcheries, which are poised to substantially augment the country’s output in the aquaculture sector through the production of an estimated 12.5 million fingerlings annually per hatchery.
He also cited, among others, the following laws to underscore the Philippines’ commitment to food security and sustainable development: RA 11981, or the Tatak Pinoy (Proudly Filipino) Act; RA 11985, or the Strengthening and Revitalizing the Salt Industry Act; and RA 12022, or the AntiAgricultural Economic Sabotage Act. He said Congress and the LegislativeExecutive Development Advisory Council (LEDAC) of the Philippines are also pursuing the passage and enactment of the Blue Economy Act, Waste-to-Energy Bill, Amendments to the Agrarian Reform Law, Comprehensive Infrastructure Development Master Plan, Enabling Law for the Natural Gas Industry, and Amendments to the Fisheries Code.
He said the joint inquiry conducted by five House committees (Quinta Committee) to address issues of smuggling and the price manipulation of essential goods and the constant coordination done by his committee with the Southeast Asian Fisheries Development Center and the Bureau of Fisheries and Aquatic Resources in conducting research and transferring knowledge on fish hatcheries also reflect the Philippines’s commitment to sustainable development.
The 10-member Asean bloc adopted the Asean-RAI in 2018 to address the growing demand for food, fisheries, and forestry products in the region.
Southeast Asia’s agriculture sector contributes 12 percent to the region’s GDP and employs more than 100 million people.
BLOOMBERG NEWS
A8 Editor: Francine Medina | Project Manager: Rodel A Suarez
Empowering PH MSMEs: Unlocking biz opportunities in EU market
Anchored on sustainability, the NEW 2024 seeks to contribute to the transformation of the country to be Southeast Asia’s hub for smart and sustainable manufacturing and services
THE Department of Trade and Industry (DTI) in partnership with the EU Delegation to the Philippines and the International Trade Center recently organized the 3rd EU-Philippines Partnership Conference at the Conrad Hotel in Manila, as part of the 2024 Philippines National Exporters’ Week (NEW).
Held on December 4, the series of events aimed to help micro, small and medium enterprises (MSMEs) was envisioned to open business opportunities and successful trading in the European Union (EU) market, which represents $11 billion worth of unrealized export potential for the Philippines.
The gathering also discussed the latest trends in trade regulatory landscape, market access requirements, and consumer preferences.
The second session presented solutions--from market research
Organized within the framework of the EU-funded ARISE Plus Philippines project, four sessions at the conference delved into the market opportunities and challenges, solutions for export success, policies for sustainable export development, and the European Green Deal.
and analytical tools to training offerings--developed under ARISE Plus Philippines and by partners to
empower Philippine exporters. The third session tackled policies as they relate to exports and
how the same can be leveraged to support Philippines’ trade competitiveness objectives.
A s the EU Green Deal reshapes the global trade landscape, the discussion covered how businesses are operating the necessary shift to comply with new sustainability requirements, to maintain and increase their competitiveness in the EU market and globally.
Th is year’s 3rd EU-Philippines Partnership Conference kicked off on December 2 to 6 and was part of Usapang Exports. On December 6, a pair of masterclasses featured EU market access for local food businesses, and EU deforestation regulation. Nelli Hajdu and Michaela Summerer from the ITC were the resource persons.
A nchored on “Sustainability: Shaping the Future of Philippine Exports,” the NEW 2024 seeks to contribute to the transformation of the country to be Southeast Asia’s hub for smart and sustainable manufacturing and services.
The Export Enablers Exhibit, a flagship activity, recognized the invaluable role of key export enablers in supporting the development and growth of Philippine exports.
PHILEXPORT: Building sustainability
can create markets, unlock biz opportunities
Ortiz-Luis underscored the need for local exporters to keep abreast and comply with sustainability policies and standards that are being imposed particularly by the European Union.
THE leader of the Philippine Exporters Confederation, Inc. (PHILEXPORT) has called exporters and manufacturers to build sustainability into their business to create new markets or expand existing ones even amid challenging global trade environments.
PHILEXPORT President Sergio Ortiz-Luis Jr. said the national effort to develop and promote exports should strike a balance between economic gains and the need to strengthen social and environmental stewardship.
“More than a trend, going green has evolved to be our core strategy in sustainably developing and growing our exports,” he said during the 2024 National Exporters’ Week and National Export Congress.
Ortiz-Luis cited megatrends that support such consumer shifts and mindset change. These include the global adoption of circular business models and the growing momentum for carbon labelling, including for food and consumer packaged goods.
Recognizing the “very daunting” responsibilities especially for micro, small and medium enterprises, he said, private businesses stand to gain much from being aware and compliant.
Ortiz-Luis said they can un-
lock $12 trillion in business opportunities varying from industry and market by delivering the United Nations Sustainable Development Goals (SDGs).
“ Working with a sustainability lens also enables companies to differentiate or build brands, penetrate new markets or new segments where sustainability matters, and develop new partnerships and sales channels,” he said.
“Further, there are a lot of investment funds and banks that offer preferential terms if companies can demonstrate that they are working within this framework,” he added.
Ortiz-Luis also underscored the need for local exporters to keep abreast and comply with sustainability policies and standards that are being imposed particularly by the European Union (EU), the country’s fourth-largest trading partner.
It is estimated that the EU market represents a further US$11 billion worth of unrealized export potential for the Philippines, he said.
Ortiz-Luis said PHILEXPORT has been heavily involved with legislative and executive advocacies to make the MSMEs sustainable and more productive, and help ease the cost and flow of doing business.
Meanwhile, the PHILEXPORT chief expressed concern about the 91 new trade-restrictive measures on goods introduced by G20 economies between mid-October 2023 and mid-October 2024, as indicated in the Trade Monitoring Report by the World Trade Organization (WTO). G20 economies comprise 19 countries and two regional bodies that include some of Philippines export markets such as China, Japan, United States and the EU. Ortiz-Luis said also weighing in this struggle are factors that include geopolitical shifts, effects of climate change, import regulations in key markets like the United States and the EU, and inflation that can affect purchases of consumer goods. Considering these developments, I believe that the ambitious targets set under the PEDP (Philippine Export Development Plan) of $143.4 billion for this year and $240.5 billion by 2028 will somehow be adversely affected and difficult to achieve,” he said during the PHILEXPORT General Membership Meeting. Ortiz-Luis added that DTI has estimated that, at least, the country's export performance will meet the $107 billion indicated under the Philippine Development Plan 2023 to 2028.
From left, PTTC OIC Executive Director Fe Avila; BOC Port Operations Service Acting Director Atty. Geniefelle P. Lagmay; DTI-EMB Director Bianca Pearl R. Sykimte, DTI Undersecretary Allan B. Gepty, ASEAN-Japan Center Secretary General Kunihiko Hirabayashi, MD, PhD, DTI Undersecretary Ceferino S. Rodolfo; PHILEXPORT President Sergio R. Ortiz-Luis Jr.; PHILEXPORT Trustee Diana H. Santos; ASEAN- Japan Assistant Director Ishida-Yasushi; PHILEXPORT Trustee Bernardo T. Benedicto III (back); and PHILEXPORT Trustee Robert M. Young.
More than a trend, producing food products with sustainable practices is now a vital business strategy.
Exports
FIRMS URGED TO SEIZE MORE EXPORT OPPORTUNITIES
The MSME Hub is an enhanced version of the virtual trade website and a promotional site for
EXPORTERS can find more markets with the country’s trade attaches as they expand their business and increase market share.
The Department of Trade and Industry (DTI) forum on December 3 featured a panel discussion on market opportunities, digitalization trends and sustainable practices covering Europe, Americas, East Asia, Middle East and Africa, and Association of Southeast Asian Nations (ASEAN).
A s part of the three-day Usapang Exports program at Conrad Manila Hotel in Pasay City, a cliniquing session with trade attaches was also conducted.
Th is was followed by a session on “Sustainable and Inclusive Trade: Advancing Women Entrepreneurs in the Global Market”, which was held in partnership with the International Trade Centre (ITC) SheTrades initiative.
On the same day, the enhanced DTI MSME Hub website was also launched.
The MSME Hub is a promotional website for the permanent digital malls created by the Bureau of Market Development, Promotions and OTOP (BMDPO) for these firms in partnership with e-commerce platforms. It is an enhanced version of the virtual trade website which was first launched by BMDPO in 2018.
The website contains updates about the latest and upcoming marketing events of the bureau; links to the online stores of the MSMEs assisted by the bureau and onboarded
to the Unionbank GlobalLinker e-commerce platform; Sisidlan catalogue which serves as a comprehensive online resource featuring the products of MSMEs; success stories of these firms; and an interactive directory of MSME suppliers.
Other key sessions under Usapang Exports included maximizing the benefits of free trade agreements (FTA) between the Philippines and Japan toward sustainable trade, and the “ARISE Plus Philippines” aiming to contribute to unlock business opportunities for MSMEs in the European Union market.
The Philippine FTA information portal was likewise launched.
Other activities during the 2024 NEW are the Exporters’ Exhibit. The flagship activity, the Export Enablers Exhibit, recognizes the invaluable role of key export enablers including trade regulatory government agencies, financing institutions, startups, and business support organizations in supporting the development and growth of Philippine exports.
Carrying this year’s theme “Sustainability: Shaping the Future of Philippine Exports, the NEW is an annual event organized by the DTI-Export Marketing Bureau in partnership with the Export Development Council and the Philippine Exporters Confederation, Inc. pursuant to Presidential Proclamation No. 931, series of 1996, which declared the first week of December as the NEW.
National Export Congress: Enhancing competitiveness through sustainable practices
To support efforts of Philippine businesses to adopt sustainable business practices, select sustainability initiatives in the country were presented during the Congress.
THIS year’s National Export Congress (NEC) theme, “Sustainability: Shaping the Future of Philippine Exports,” aims to contribute to a goal to transform the Philippines to be Southeast Asia’s hub for smart and sustainable manufacturing and services by empowering the private sector through marketbased tools.
Held on December 5, the theme emphasizes the importance of sustainable materials and production methods, ethical sourcing, cost-effective strategies and responsible supply chains to ensure long-term competitiveness.
Three sessions held in Conrad Hotel in Pasay City reviewed the current sustainability practices of businesses and the broader impact of these efforts, the evolving landscape of sustainable exporting given government regulations, and promoting sustainable trade practices in women-led businesses. The discussions delved into the growing awareness on the importance of sustainability and how it is shaping trends, influencing consumer behavior, and affecting economic dynamics worldwide. To support efforts of Philippine businesses to adopt sustainable business practices, select sustainability initiatives in the country were presented during the Congress. A n event highlight was the recognition of the achievements of select Philippine exporters and their contribution in the country’s export industry. Select government agencies were also recognized for their significant contribution in supporting and facilitating the growth of exporters.
Government and business leaders during the opening day of National Exporters Week
PHILEXPORT President Sergio R. Ortiz-Luis Jr.
Department of Trade and Industry Undersecretary Allan B. Gepty
South Korean president impeached after short-lived martial law decree
By Hyung-Jin Kim & Kim Tong-Hyung The Associated Press
SEOUL, South Korea—South Korea’s parliament on Saturday impeached President Yoon Suk Yeol over his stunning and short-lived martial law decree, a move that ended days of political paralysis but set up an intense debate over Yoon’s fate, as jubilant crowds roared to celebrate another defiant moment in the country’s resilient democracy.
The National Assembly passed the motion 204-85. Yoon’s presidential powers and duties were subsequently suspended and Prime Minister Han Duck-soo, the country’s No. 2 official, took over presidential powers later Saturday.
The Constitutional Court has up to 180 days to determine whether to dismiss Yoon as president or restore his powers. If he’s thrown out of office, a national election to choose his successor must be held within 60 days.
It was the second National Assembly vote on Yoon’s impeachment after ruling party lawmakers boycotted the first floor vote last Saturday. Some People Power Party lawmakers had since said they would vote for Yoon’s impeachment as public protests intensified and his approval rating plummeted.
National Assembly Speaker Woo Won Shik said Yoon’s impeachment was an outcome driven by “the people’s ardent desire for democracy, courage and dedication.”
Hundreds of thousands of people gathered near the parliament roared in jubilation, waved banners and brandished colorful K-pop glow sticks, as a lead activist shouted on stage, “We have preserved the constitutional order!”
“The impeachment has been done
in line with the people’s demand and I hope a decision to dismiss Yoon Suk Yeol will come as soon as possible,” said Kim Su-bong, a protester. “I’m very happy and moved. I view it as a victory of the people.” In a central Seoul plaza, another huge crowd gathered supporting Yoon, but they grew subdued after hearing he had been impeached.
Acting leader bolsters the country’s security posture Yoo N i ssued a statement saying he would “never give up” and calling for officials to maintain stability in government functions during what he described as a “temporary” pause of his presidency.
“I will carry with me all the criticisms, encouragement and support directed toward me, and I will continue to do my utmost for the country until the very last moment,” Yoon said. Yoon’s Dec. 3 imposition of martial law, the first of its kind in more than four decades in South Korea, lasted only six hours, but has caused massive political tumult, halted diplomatic activities and rattled financial markets. Yoon was forced to lift his decree after parliament unanimously voted to overturn it.
Han, the acting leader, ordered the military to bolster its security
posture to prevent North Korea from launching provocations by miscalculation. Han asked the foreign minister to inform other countries that South Korea’s major external policies remain unchanged, and the finance minister to work to minimize potential negative impacts on the economy by the political turmoil, according to Han’s office.
“I earnestly ask public servants this. At this moment, we have the critical task of ensuring normal and stable operations of state affairs ... I ask you to carry out your duties without any neglect to ensure that the government is operated without being shaken,” Han said in a televised statement.
Han’s office said he had a phone call with US President Joe Biden on Sunday, discussing the political situation in South Korea and regional security challenges, including North Korea’s nuclear program and its ongoing military cooperation with Russia, and reaffirming their mutual commitment to maintaining and strengthening their alliance.
South Korea’s executive power is
concentrated with the president, but the prime minister leads the country if the president becomes incapacitated. Han is a seasoned official and has previously held a string of top government posts such as trade minister and finance minister. He also served as a prime minister from 2007-2008.
US Ambassador Philip S. Goldberg wrote on X that the US supports South Korea’s “democratic and constitutional process here and stands with its people.” Japanese Prime Minister Shigeru Ishiba told reporters Saturday that Tokyo was closely watching the developments in South Korea but said that “the importance of Japan-South Korea relations is not affected.”
After declaring martial law, Yoon sent hundreds of troops and police officers to the parliament to try to impede its vote on the decree, before they withdrew after the parliament rejected Yoon’s decree. No major violence occurred.
o p position parties accuse Yoon of rebellion, citing a law that categorizes as rebellion the staging of a riot against established state authorities to undermine the constitution. They
also say that a president in South Korea is allowed to declare martial law only during wartime or similar emergencies and has no right to suspend parliament’s operations even under martial law.
The impeachment motion alleged that Yoon “committed rebellion that hurt peace in the Republic of Korea by staging a series of riots.” It said Yoon’s mobilization of military and police forces threatened the National Assembly and the public and that his martial law decree was aimed at disturbing the constitution.
Yoon remains defiant
I N a f iery speech on Thursday, Yoon rejected the rebellion charges, calling his martial law introduction an act of governance. The conservative Yoon said he aimed to issue a warning to the main liberal opposition Democratic Party, calling it “a monster” and “antistate forces” that he argued has flexed its legislative muscle to impeach many top officials and undermine the government’s budget bill for next year.
He claimed the deployment of troops was meant to maintain order, rather
than disrupt it.
Democratic Party leader Lee Jaemyung called Yoon’s speech a “mad declaration of war” against his own people.
o b servers say Yoon’s speech suggested a focus on legal preparations to defend his martial law decree at the Constitutional Court, even as opinion surveys showed more than 70% of South Koreans supported his impeachment. A survey released Friday put Yoon’s approval rating at 11%, the lowest since he took office in 2022.
Some of Yoon’s claims don’t align with testimony by some military commanders whose troops were deployed to the Assembly.
Kwak Jong-keun, commander of the Army Special Warfare Command, said that Yoon had asked for his troops to “quickly destroy the door and drag out the lawmakers who are inside.” Kwak said he didn’t carry out Yoon’s order.
Yoon is the third South Korean president impeached while in office. In 2016, parliament impeached Park Geun-hye, the country’s first female president, over a corruption scandal. The Constitutional Court upheld her impeachment and dismissed her from office.
In 2004, President Roh Moo-hyun was impeached at parliament over an alleged election law violation but the court later overturned his impeachment and restored his presidential powers.
Yoon has been banned from leaving South Korea. Yoon’s defense minister and police chief and two other highlevel figures have been arrested over the martial law enforcement. He has the presidential privilege of immunity from criminal prosecution but that doesn’t extend to allegations of rebellion or treason. But observers doubt that authorities will forcefully detain him because of the potential for clashes with his presidential security service. (Associated Press journalists Seong-bin Kang in Seoul, South Korea, and Mari Yamaguchi in Tokyo contributed to this report.)
Syrians celebrate new era of freedom, hope as US allies seek to shape new government
By Albert Aji & Matthew Lee
The Associated Press
DAMASCUS—Exuberant Syrians observed the first Friday prayers since the ouster of President Bashar Assad, gathering in the capital’s historic main mosque, its largest square and around the country to celebrate the end of half a century of authoritarian rule.
The newly installed interim prime minister delivered the sermon at the Umayyad Mosque, declaring that a new era of “freedom, dignity and justice” was dawning for Syria.
The gatherings illustrated the dramatic changes that have swept over Syria less than a week after insurgents marched into Damascus and toppled Assad. Amid the jubilation, US Secretary of State Antony Blinken met with allies around the region and called for an “inclusive and non-sectarian” interim government.
Blinken arrived in Iraq on a previously unannounced stop after talks in Jordan and Turkey, which backs some of the Syrian insurgent factions. So far, US officials have not talked of direct meetings with Syria’s new rulers.
The main insurgent force, Hayat Tahrir al-Sham, has worked to establish security and start a political transition after seizing Damascus early Sunday. The group has tried to reassure a public both stunned by Assad’s fall and concerned about extremist jihadis among the rebels.
Insurgent leaders say the group has broken with its extremist past, though HTS is still labeled a terrorist group by the United States and European countries.
HTS’s leader, Ahmad al-Sharaa, formerly known as Abu Mohammed al-Golani, appeared in a video message Friday congratulating “the great Syrian people for the victory of the blessed revolution.”
“I invite them to head to the squares to show their happiness without shooting bullets and scaring people,” he said. “And then after, we will work to build this country, and as I said in the beginning, we will be victorious by the help of God.”
Syrians celebrate in the historic heart of Damascus
H U GE crowds, including some insurgents, packed the historic Umayyad Mosque in the capital’s old city, many waving the rebel opposition flag—with its three red stars— which has swiftly replaced the Assad-era flag with its two green stars.
Syrian state television reported that the sermon was delivered by Mohammed alBashir, the interim prime minister installed by HTS this week.
The scene resonated on multiple levels. The mosque, one of the world’s oldest dating back some 1,200 years, is a beloved symbol of Syria, and sermons there like all mosque sermons across Syria were tightly controlled under Assad’s rule.
Also, in the early days of the anti-government uprising in 2011, protesters would leave Friday prayers to march in rallies against Assad before he launched a brutal crackdown that turned the uprising into a long and bloody civil war.
“I didn’t step foot in Umayyad Mosque since 2011,” because of the tight security controls around it, said one worshipper, Ibrahim al-Araby. “Since 11 or 12 years, I haven’t been this happy.”
Another worshipper, Khair Taha, said there was “fear and trepidation for what’s to come. But there is also a lot of hope that now we have a say and we can try to build.” Blocks away in Damascus’ biggest roundabout, named Umayyad Square, thousands gathered, including many families with small children—a sign of how, so far at least, the country’s transformation has not caused violent instability.
“Unified Syria to build Syria,” the crowd chanted. Some shouted slurs against Assad and his late father, calling them pigs, an insult that would have previously led to offenders being hauled off to one of the feared detention centers of Assad’s security forces.
One man in the crowd, 51-year-old Khaled Abu Chahine—originally from the southern province of Daraa, where the 2011 uprising first erupted—said he hoped for “freedom and coexistence between all Syrians, Alawites, Sunnis, Shiites and Druze.”
The interim prime minister, al-Bashir, had been the head of a de facto administration created by HTS in Idlib, the opposition’s enclave in northwest Syria. The rebels were bottled up in Idlib for years before fighters broke out in a shock offensive and marched across Syria in 10 days.
Similar scenes of joy unfolded in other major cities, including in Aleppo, Homs, Hama, Latakia and Raqqa.
US and its allies try to shape a rapidly changing Syria
A L- S HARAA , HTS’ leader, has promised to bring a pluralistic government to Syria, seeking to dispel fears among many Syrians—especially its many minority communities—that the insurgents will impose
a hardline, extremist rule.
Another key factor will be winning international recognition for a new government in a country where multiple foreign powers have their hands in the mix.
The Sunni Arab insurgents who overthrew Assad did so with vital help from Turkey, a longtime foe of the US-backed Kurds. Turkey controls a strip of Syrian territory along the shared border and backs an insurgent faction uneasily allied to HTS—and is deeply opposed to any gains by Syria’s Kurds.
In other developments, Turkish Foreign Minister Hakan Fidan said Turkey’s Embassy in Damascus would reopen Saturday for the first time since 2012, when it closed due to the Syrian civil war.
The US has troops in eastern Syria to combat remnants of the Islamic State group and supports Kurdish-led fighters who rule most of the east. Since Assad’s fall, Israel has bombed sites all over Syria, saying it is trying to prevent weapons from falling into extremist hands. It has also seized a swath of southern Syria along the border with the Israeli-occupied Golan Heights, calling it a buffer zone.
After talks with Fidan, Blinken said there was “broad agreement” between Turkey and the US on what they would like to see in Syria. That starts with an “interim government in Syria, one that is inclusive and non-sectarian and one that protects the rights of minorities and women” and does not “pose any kind of threat to any of Syria’s neighbors,” Blinken said.
Fidan said the priority was “establishing stability in Syria as soon as possible, preventing terrorism from gaining ground, and ensuring that IS and the PKK aren’t
dominant”—referring to the Islamic State group and the Kurdistan Workers Party. Ankara considers the PKK within Turkey’s borders a terrorist group, as it does the Kurdish-backed forces in Syria backed by the US.
A US official said that in Ankara, President Recep Tayyip Erdogan and Fidan both told Blinken that Kurdish attacks on Turkish positions would require a response. The official spoke to reporters on condition of anonymity to discuss private diplomatic talks. The US has been trying to limit such incidents in recent days and had helped organize an agreement to prevent confrontations around the northern Syrian town of Manbij, which was taken by Turkey-backed opposition fighters from the US-backed Kurdish forces earlier this week.
In Baghdad, Blinken met with Iraqi Prime Minister Mohammed al-Sudani, saying both countries wanted to ensure the Islamic State group—also known by its Arabic acronym Daesh—doesn’t exploit Syria’s transition to re-emerge.
“Having put Daesh back in its box, we can’t let it out, and we’re determined to make sure that that doesn’t happen,” Blinken said. The US official who briefed reporters said that Blinken had impressed upon alSudani the importance of Iraq exercising its full sovereignty over its territory and airspace to stop Iran from transporting weapons and equipment to Syria, either for Assad supporters or onward to the militant Hezbollah group in Lebanon. Lee reported from Ankara, Turkey. Associated Press writers Suzan Fraser in Ankara and Sally Abou AlJoud in Beirut contributed to this report.
Editor: Angel R. Calso
Ukrainian drone strikes in Russia spark major oil terminal fire as Kyiv reels from massive air attacks
Kdrone strikes on southern Russia killed a 9-year-old boy and set fire to a major oil terminal, officials said Saturday, the day after Moscow launched a massive aerial attack on its neighbor that Ukrainian President Volodymyr Zelenskyy said was one of the heaviest bombardments of the country’s energy sectorin the nearly three-year war.
firmed that a Ukrainian drone strike set fire to a fuel depot. He said later the blaze had been contained and that there were no casualties.
an orange glow. Oryol Gov. Andrey Klychkov con -
Russia’s Defense Ministry on Saturday claimed its forces shot down 37 Ukrainian drones over the country’s south and west the previous night.
Hezbollah struggles as Assad falls, facing new reality in Lebanon and Middle East
By Bassem Mroue & Kareem Chehayeb
The Associated Press
EIRUT—A severely hobbled
BHezbollah was in no position to help defend former Syrian President Bashar Assad, a longtime ally, from the lightning-fast insurgency that toppled him. With Assad gone, the militant group based in Lebanon is even weaker.
Hezbollah was dealt a major blow during 14 months of war with Israel. The toppling of Assad, who had strong ties to Iran, has now crippled its ability to bounce back by cutting off a vital weapons-smuggling route through Syria.
Hezbollah officials are deeply concerned but defiant.
“What is happening in Syria is a major, dangerous and new change, and to know why this happened needs evaluation,” Hassan Fadlallah, a Lebanese lawmaker who represents Hezbollah’s political wing, said during a speech at a funeral for militants killed by Israel. “Whatever is happening in Syria, despite its dangers, will not weaken us.”
Analysts say the diminishment of Hezbollah will have big consequences for Lebanon, where for decades it has been a major political player—and for Iran, which has relied on the group as one of several proxy forces projecting power across the Middle East. It is also a game-changer for Israel, whose nemesis on its northern border is now at its most vulnerable point in decades.
Ties to Syria influenced the rise and fall of Hezbollah’s power
T HE A ssad dynasty, which ruled Syria for half a century with an iron fist, played a crucial role in empowering Hezbollah, which was founded in the early 1980s by Iranian advisers who came through Syria. In addition to being a conduit for Iranian weapons, Syria also was a place where Hezbollah trained fighters and manufactured its own weapons.
As Hezbollah grew more powerful, it became a force Assad could rely on for protection in times of crisis. Hezbollah sent thousands of fighters to bolster Assad’s forces when a civil war broke out in 2011.
As insurgents swept across Syria in early December and took the city of Homs—a stone’s throw from a Syrian border town where Hezbollah had a presence—many expected the mili -
tants to put up a fierce fight. After all, they did just that in 2013, preventing Assad’s opponents from advancing into Damascus.
This time, Hezbollah was in disarray. Many of its top officials, including longtime leader Hassan Nasrallah, were killed in Israeli airstrikes. And months of Israeli bombardment destroyed much of its military infrastructure. With Syria’s key international allies, Russia and Iran, on the sidelines, Hezbollah withdrew, and Assad was ousted quickly.
“The fall of the regime marks the end of Iran’s arms in Syria and Lebanon,” said Lt. Col. Fares al-Bayoush, a Syrian army defector who fought in the civil war against Assad’s forces and Hezbollah until 2017, when he moved to Turkey.
Lebanon begins to grapple with Hezbollah’s ‘new reality’
I N L ebanon, the sapping of Hezbollah’s strength has given the army the opportunity to reassert control it had ceded, especially along its southern border. A US-brokered ceasefire between the militant group and Israel states that Hezbollah should have no armed presence along that border and it has led to growing calls within Lebanon for the group’s disarmament.
“To Hezbollah, it’s game over,” Samir Geagea, who leads the Christian Lebanese Forces Party, said in a statement on Sunday, hours after insurgents took Damascus. “Sit with the Lebanese military to end your status as an armed group, and transform yourselves into a political party.”
But Hezbollah’s longtime sway in the political arena in Lebanon also
faces a major challenge.
Many in Lebanon are angry with the group. Critics say Hezbollah violated its promise to use its weapons only to defend Lebanon when it began firing rockets into Israel last year, the day after Hamas—another Iranianbacked group—attacked Israel.
Nearly 4,000 people were killed in Lebanon during the war with Israel, according to the country’s health ministry. Entire towns and villages where Hezbollah militants and their supporters lived have been flattened. More than 1 million people have been displaced, and the country’s economy—which was in bad shape before the war—is in a deep hole.
“With the (Syrian) regime gone, Hezbollah in Lebanon faces an entirely new reality,” said Firas Maksad, of the Middle East Institute. Maksad said many Lebanese leaders have yet to grasp the magnitude of the change that has taken place. Even some onetime allies of Hezbollah in parliament have begun distancing themselves from the group.
Gebran Bassil, a lawmaker who represents the Free Patriotic Movement, Lebanon’s other major Christian party, said Hezbollah’s loss of a weapons pipeline from Iran could help Lebanon extract itself from regional conflict.
“Hezbollah should focus on internal affairs and not the wider region,” Bassil, a former ally of Hezbollah, said. It may have no choice but to narrow its ambitions. With the fall of Assad, Iran has lost control of a corridor of land that stretched through Iraq and Syria all the way to the Mediterranean, and which gave it an unimpeded route to supply Hezbollah.
Russia pummels Ukrainian energy targets
T HE U krainian strikes came a day after Russia fired 93 cruise and ballistic missiles and almost 200 drones at its neighbor, further battering Ukraine’s energy infrastructure, around half of which has been destroyed during the
war. Rolling electricity blackouts are common and widespread, and Zelenskyy charged Friday that Moscow is “terrorizing millions of people” with such assaults.
According to Ukraine’s air force, Russia kept up its drone attacks on Saturday, launching 132 across Ukrainian territory. Fifty-eight drones were shot down and a further 72 veered off course, likely due to electronic jamming, it said.
The Russian Defense Ministry said its forces used long-range precision missiles and drones on “critically important fuel and energy facilities in Ukraine that ensure the functioning of the military industrial complex.”
The strike was in retaliation for Wednesday’s Ukrainian attack using US-supplied the Army Tactical Missile System, or ATACMs, on a Russian air base, it said.
Kyiv’s Western allies have provided Ukraine with air defense systems to help it protect critical infrastructure, but Russia has sought to overwhelm the air defenses with combined strikes involving large numbers of missiles and drones called “swarms.” Russia has held the initiative
this year as its military has steadily rammed through Ukrainian defenses in the east in a series of slow but steady offensives. But uncertainty surrounds how the war might unfold next year. US President-elect Donald Trump, who takes office next month, has vowed to end the war and has thrown into doubt whether vital US military support for Kyiv will continue. North Koreans reportedly in combat in Kursk Zelenskyy said Saturday that a “significant number” of North Korean troops were being deployed by Moscow in assaults in Russia’s southern Kursk region, where Ukrainian troops have held on following a stunning cross-border incursion this summer. In a televised address, Zelenskyy said that North Korean soldiers have so far not entered the fight on Ukrai
and wounded 14 others in front-line areas Ukraine’s south and northeast. AP
Bolivian judicial elections plagued by controversy and electioneering
By Paola Flores & Isabel Debre
The Associated Press
La Pa Z , Bolivia— c am paigning for Sunday’s judicial election may be strictly forbidden, but look closer on the streets of Bolivia’s capital, La Paz, and you’ll find that some candidates have sneakily plastered their faces on packs of corn puffs and others have slipped subtle slogans into official voting manuals.
a f ter all, it’s a popular vote, and even a bit of P r can work wonders when voters know nothing about the dozens of names on their sprawling ballot papers.
Bolivia is the only country in the world that holds elections for top judicial posts.
Soon m e xico will, too, after former President a n drés m an uel López o b rador pushed through a highly contentious overhaul of the justice system in the face of mass protests.
a s Bolivia’s ex-President Evo m o rales did when remaking the judiciary in 2009, López o b rador has championed the overhaul as a way to purge the corrupt elite and boost democracy.
But apathetic Bolivian voters say the elections have had the opposite effect, turning their courts from neutral arbiters into political prizes.
“ i ’ ll flip a coin,” said 25-year-old architecture student m a risol n o gales when asked how she would vote on Sunday.
i t ’s never easy to find supporters of Bolivia’s system of electing judges, which, over a decade ago, replaced a nomination system rooted in qualifications and training.
a c ross the world, academics, investors and judges have warned that judicial elections can cement the dominance of the ruling party and gut checks and balances.
a n d across Latin a m erica, from El Salvador to h o nduras, experts have characterized politicized judiciaries as profound threats to democracy.
i n Bolivia, even senior judicial officials struggle to sound positive when asked to defend the election.
“ i t sh ould be a calm, easy and simple process, but it has become very litigious, very controversial,” Francisco va rgas, the vice president of Bolivia’s electoral tribunal, told t h e a s sociated Press from the court in central La Paz.
t h is year in Bolivia, experts find it even harder than usual to praise the system. With the posts up for grabs every six years, Sunday’s vote was supposed to take place in late 2023.
But as the deadline approached last year, the c o nstitutional c o urt—packed with allies of President Luis a r ce—suddenly intervened to push the vote back a year, escalating his power struggle with his former mentor and current rival, m o rales, over who will lead their longdominant leftist party into Bolivia’s 2025 presidential election.
Both understand that whoever wins over the c o nstitutional c o urt ensures their own political survival. a r ce cited the paralysis of their divided party in justifying the vote’s delay. m o rales’ loyalists, who hold a majority in c o ngress and would have determined the shortlist of judicial candidates, accused a r ce of illegally extending the mandates of friendly judges for fear of losing influence over the courts.
“What happened was disorder, the kind that can lead us to a greater conflict,” said i v án Lima, the former m i nister of Justice.
t h e i nter- a m erican c o urt of h u man r ig hts criticized the postponement of elections, raising alarm about its “potential to undermine the effective functioning of the Bolivian justice system.”
n o w, after many attempts to derail and further delay the vote, it is finally moving ahead Sunday. But there’s a wrinkle: t ’s a partial election. o n ly four out of nine seats on the powerful c o nstitutional c o urt are up for grabs. t h e other five—the majority of sitting judges, as it happens—will stay in their posts.
t h e judges have turned the c o nstitutional c o urt into a sort of super power,” said Bolivian political analyst Paul c o ca. Sunday marks the third time that Bolivia has held judicial elections. i f t he past two rounds under then-President m orales, in 2011 and 2017, are any indication, turnout will be low. Both times, the majority of Bolivians, outraged or simply baffled by the notion of endorsing unknown judges pre-selected by m o rales’ allies with little transparency, voted null or blank. c r itics questioned the legitimacy of the elected judges. But they nonetheless shaped the evolution of Bolivian democracy. i n 2016, m o rales asked Bolivians in a legally binding referendum to decide whether to let him run for a fourth term, in defiance of a two-term limit established in the 2009 c o nstitution he had backed.
When he didn’t get the answer he wanted—a slim majority voted “no”—his party found a workaround through the pliant c o n -
stitutional c o urt, where judges ruled that to deny m o rales another term as president would be to violate his human rights. t h is was his major mistake,” said Eduardo r o dríguez ve ltzé, a former chief justice of the Supreme c o urt.
i t w as m o rales’ decision to run again in 2019 that brought a precipitous end to his remarkable 14-year tenure and ushered in a surreal parade of crises. a s a llegations of electoral fraud sent angry crowds into the streets, m or ales resigned under pressure from the military and went into exile. Five years after coming under fire for allegedly manipulating the courts, m orales now finds himself on the receiving end of the judiciary he overhauled.
“First Evo’s party used the court to challenge the referendum’s results to promote another candidacy. t h en a r ce’s administration colluded with the same c o nstitutional c o urt to delay and reduce judicial elections to favor the self-prorogated judges, who run politics through judicial review,” ve ltzé said. Last year, the c o nstitutional c o urt endorsed a controversial resolution from the northeastern province of Beni that the government insists blocks m o rales from running for president in 2025.
Last o c tober, a prosecutor in Bolivia’s southern province of ta rija issued an arrest warrant for m o rales after reviving a 2016 statutory rape case against him. a n d earlier this week, the country’s top criminal court swiftly extradited m o rales’ former anti-drug chief to stand trial in the United States on charges of cocaine traf
Severe weather strikes multiple US regions: Ice storms, tornadoes, heavy snowfall cause chaos
By Josh Funk The Associated Press
OMAHA, Neb.—Inclement weather plagued areas of the US in the first half of the weekend, with dangerous conditions including heavy snow in upstate New York, a major ice storm in Midwest states, severe weather warnings around Lake Tahoe and unusual tornado activity in Central California.
The ice storm beginning Friday evening created treacherous driving conditions across Iowa and eastern Nebraska Friday and into Saturday and prompted temporary closures of Interstate 80 after numerous cars and trucks slid off the road. In upstate New York, more than 33 inches (84 centimeters) was reported near Orchard Park, which is often a landing point for lake-effect snow.
On Saturday, a tornado touched down near a shopping mall in Scotts Valley, California, about 70 miles (110 kilometers) south of San Francisco, around 1:40 p.m.
The tornado overturned cars and toppled trees and utility poles, the National Weather Service said. The Scotts Valley Police Department said several people were injured
and taken to hospitals.
Some trees toppled onto cars and streets and damaged roofs in San Francisco. The damage was being assessed to determine if the city was indeed hit by a tornado, which had not occurred since 2005, according to the weather service.
Roger Gass, a meteorologist in the weather service’s office in Monterey, California, said the warning of a possible tornado in San Francisco was a first for the city, noting an advanced alert did not go out before the last tornado struck nearly 20 years ago. “I would guess there wasn’t a clear signature on radar for a warning in 2005,” said Gass, who was not there at the time.
The fast-moving storm prompted warnings for residents to take shelter, but few
After a 15-year pause in executions, Indiana prepares to put to death a man who killed 4
By Rick Callahan
The Associated Press
INDIANAPOLIS—Indiana officials are preparing to execute the state’s first death row inmate in 15 years, who was convicted a quarter-century ago of killing his brother and three other men.
Joseph Corcoran, 49, has been on Indiana’s death row since 1999. If he is put to death as scheduled Wednesday, it will be the state’s first execution since 2009. In that time, 13 executions were carried out in Indiana but those were initiated and performed by federal officials in 2020 and 2021 at a federal prison. Corcoran is scheduled to be executed before sunrise Wednesday at the Indiana State Prison in Michigan City, about 4 5 miles (72 kilometers) east of Chicago. Indiana’s resumption of executions is refocusing attention on Corcoran’s case and questions a bout how the state has been able to obtain a drug for lethal injections.
What was Corcoran convicted of?
C ORC ORAN w as 22 on July 26, 1997, when he fatally shot his brother, 30-year-old James Corcoran, and three other men: Douglas A. Stillwell, 30, Timothy G. Bricker, 30, and Robert Scott Turner, 32. According to court records, Joseph Corcoran was under stress because the forthcoming marriage of his sister to Turner would n ecessitate moving out of the Fort Wayne, Indiana, home he had shared with his brother and sister.
He awoke to hear his brother and others downstairs talking about him, loaded his rifle and then shot all four men, records show. While jailed, Corcoran reportedly bragged a bout shooting his parents in 1992 in northern Indiana’s Steuben County. He was charged in their killings but acquitted.
Corcoran’s sibling opposes execution
C ORC ORAN S s ister, Kelly Ernst, who lost a brother and her fiancé in the 1997 shootings, declined to discuss whether she believes her younger brother killed their parents.
But Ernst, who lives in northeastern Indiana, said she believes the death penalty s hould be abolished and her brother’s execution won’t solve or change anything. She does n ot plan to attend his execution. Ernst said she had been out of contact with her brother for 10 years until recently. She believes it’s “fairly obvious” he has a serious mental illness.
I kind of just feel that there’s no such thing as closure,” Ernst, 56, said Friday. “I just don’t know what else to say. I haven’t slept in weeks.”
Th IS u
Ind IA n A d epA r tment of Corre C t ons v IA A p
Why did Indiana stop executions?
I N DIANA l ast executed Matthew Wrinkles, who was put to death in 2009 for killing his wife, her brother and sister-in-law in 1994.
State officials said they couldn’t continue executions because a combination of drugs used in lethal injections had become unavailable. There has been a yearslong nationwide s hortage because pharmaceutical companies—particularly in Europe, where opposition to capital punishment is strongest—have re fused to sell their products for that purpose.
That has prompted states to turn to compounding pharmacies, which manufacture d rugs specifically for a client. Some states have switched to more accessible drugs such as the sedatives pentobarbital or midazolam, both of which, critics say, can cause excruciating pain.
I ndiana is following that lead, planning to use pentobarbital to execute Corcoran.
The federal government also used pentobarbital in the 13 federal executions carried out during the final six months of then-President Donald Trump’s first term.
Secret source of the drug
M AN Y s tates, including Indiana, refuse to divulge where they get the drugs. When asked how the state obtained the pentobarbital it plans to use in Corcoran’s execution, the Indiana Department of Correction directed The Associated Press to a state law labeling the source of lethal injection drugs as c onfidential.
In June, Gov. Eric Holcomb announced the state had acquired pentobarbital and asked the Indiana Supreme Court to set a date for Corcoran’s execution. The high court set his December 18 execution date in September.
people have basements in the area.
“The biggest thing that we tell people in the city is to put as many walls between you and the outside as possible,” Meteorologist Dalton Behringer said.
More than a foot (30 centimeters) of snow fell at some Lake Tahoe ski resorts, and a 112-mph (181-kph) gust of wind was recorded at the Mammoth Mountain resort south of Yosemite National Park, according to the weather service’s office in Reno, Nevada.
The state’s execution plan
S T ATE l aw lays out the specific timing and process. It also limits the people who have a role in an execution and shields their identities and specifies who can witness executions a t the Indiana State Prison.
At the time of an execution, Indiana code states that the only people allowed to be present are the prison warden, those selected to assist in the execution, the prison phy sician, one additional physician, the condemned person’s spiritual adviser and the prison chaplain.
Up to five friends or relatives of the person being executed and up to eight relatives o f the victims of the crime are allowed to view the process.
The Indiana Department of Correction did not respond to multiple queries from the AP asking whether any of the staffers who will help carry out Corcoran’s execution have previously taken part in a state execution.
No media can witness Indiana executions
I N DIANA i s one of only two states, along with Wyoming, that do not allow for members of the news media to witness state executions, according to a recent report by the Death Penalty Information Center.
That report states “unobstructed media access to executions is critical because the media observes what the public cannot. States generally prohibit citizens from attending executions, so the media becomes t he public’s watchdog, providing important information about how the government is following the law and using taxpayer funds.”
Is there a fight to stop the execution?
Corcoran HAD E x H AUSTED HIS FEDERAL AP p eals in 2016.
But on Wednesday, his attorneys filed a petition in US District Court of Northern Indiana asking the court to stop his execution and hold a hearing to decide if it would be unconstitutional because Corcoran has a serious mental illness.
T hey argue he has “severe and longstanding paranoid schizophrenia” and his condition “manifests as auditory hallucinations a nd delusions that prison guards are torturing him with an ultrasound machine.”
Indeed, he has volunteered to be executed, and is eager to be executed, because he b elieves his execution will give him relief from the perceived pain his delusions a nd hallucinations inflict upon him,” the filing states.
Corcoran’s attorneys asked the Indiana Supreme Court to stop his execution but were denied on December 5. The high court also denied petitions by his lawyers to argue whether he is competent to be executed.
I n a handwritten affidavit to the justices, Corcoran said he no longer wanted to litigate his case.
I am guilty of the crime I was convicted of, and accept the findings of all the appellate courts,” he wrote.
Up to 3 feet (91 centimeters) of snow was forecast for Sierra Nevada mountaintops.
The Tahoe Live music festival at Palisades Tahoe ski resort in California was expected to go ahead as planned Saturday and Sunday in spite of a winter storm warning for the area. Lil Wayne was scheduled to perform Saturday night, with Diplo as the headliner on Sunday, the festival’s website said.
A winter storm warning was set to expire at 10 p.m. Saturday, but an avalanche warn -
ing remained in effect into the following night for elevations above 8,000 feet (about 2,400 meters) around Tahoe. Interstate 80 was closed along an 80-mile (130-kilometer) stretch from Applegate, California, to the Nevada line just west of Reno on Saturday. The California Highway Patrol reopened the road in the afternoon for passenger vehicles with chains or fourwheel drive and snow tires.
The severe weather in the Midwest resulted in at least one death. The Washington County Sheriff’s office in Nebraska said a 57-year-old woman died after she lost control of her pickup on Highway 30 near Arlington and hit an oncoming truck. The other driver sustained minor injuries. Businesses announced plans to open late Saturday as temperatures rose high enough in the afternoon to melt the ice in most places.
“Luckily some warmer air is moving in behind this to make it temporary,” said Dave Cousins, a meteorologist with the National Weather Service’s office in Davenport, Iowa. Tens of thousands of people in western Washington state lost electricity Saturday as the system delivered rain and gusty winds, local news outlets reported. Associated Press reporters Olga R. Rodriguez in San Francisco, Julie Walker in New York, Becky Bohrer in Juneau, Alaska, and Scott Sonner in Reno, Nevada, contributed.
Pope Francis makes historic visit to Corsica, with focus on regional crisis, popular piety
By Paolo Santalucia & Silvia Stellacci The Associated Press
AJACCIO, Corsica—Pope Francis’ one-day visit to the French island of Corsica on Sunday, two days before his 88th birthday, puts a dual focus on the Mediterranean, highlighting local traditions of popular piety on the one hand and migrant deaths and wars on the other.
The visit to Corsica’s capital Ajaccio, birthplace of Napoleon, will be one of the briefest of his papacy beyond Italy’s borders, just a bout nine hours on the ground, including a 40-minute visit with French President Emmanuel Macron.
It is the first papal visit to the island, which Genoa ceded to France in 1768 and is located closer to the Italian mainland than France. Corsica stands out from the rest of secularized France as a particularly devout region, w ith 92 confraternities, or lay associations dedicated to works of charity or piety, with over 4,000 members.
“It means that there is a beautiful, mature, adult and responsible collaboration between civil authorities, mayors, deputies, senators, officials and religious authorities,’’ Ajaccio Cardinal François Bustillo told The Associated Press. “There is no hostility between the t wo. And that is a very positive aspect because in Corsica there is no ideological hostility.”
Papa Francescu, the pope’s name in Corsican, will address more than 400 participants a t the Conference on Popular Religiosity in the Mediterranean, organized by the bishop of Ajaccio, Cardinal Francois-x avier Bustillo. The pope’s remarks will include reflections on local religious traditions, especially s trongly held in Corsica, including the cult of the Virgin Mary, known locally as the Madun -
Po P e Francis boards an airplane at rome’s Fiumicino Airport as he leaves for his one-day visit to Ajaccio in the French island of Corsica on Sunday, December 15, 2024. A p p h oto/Gre G o r o Bor G IA
nuccia, which protected the island from the p lague in 1656 when it was still under Genoa.
“The Mediterranean is the backdrop of this trip, surrounded by situations of crisis and conflict,’’ which is expected to be echoed in the pope’s address, Vatican spokesman Matteo Bruni said. The pope has often referred to the tragedy of migration, which he h as said has turned the Mediterranean into “Europe’s largest cemetery.’’
After the conference address, he will travel to the 17th-century cathedral of Santa Maria Assunta to meet with clergy, stopping a long the way at the statue of the Madunnuccia. Francis will celebrate Mass at the Place D ’Austerlitz Park, where it is said Napoleon played as a child. Around 7,000 faithful are expected. He will meet privately with Macron at the airport before departing for the 5 0-minute flight back to Rome.
The pontiff pointedly did not make the trip to Paris earlier this month for the pomp surrounding the reopening of the Notre Dame Cathedral following the devastating 2019 fire. The visit to Corsica seems far more suited to Francis’ priorities than a grand cathedral reopening, emphasizing the “church o f the peripheries.”
It is Francis’ third trip to France, each time avoiding Paris and the protocols that a state visit entails. He visited the port of Marseille in 2023, on an overnight visit to participate in an annual summit of Mediterranean bishops, and went to Strasbourg in 20 14 to address the European Parliament and Council of Europe. Corsica is home to more than 340,000 people and has been part of France since 1768. But the island has also seen pro-independence violence and has an influential nationalist movement, and last year Macron proposed granting it limited autonomy.
ndated photo provided by the Indiana Department of Corrections shows Joseph Corcoran, who is scheduled to be executed before sunrise on December 18, 2024.
Worker S r emove
large tree that has fallen onto a mobile home in Seaside, California on Saturday, December 14, 2024.
n IC Coury
ABC agrees to give $15 million to Donald Trump’s presidential library to settle defamation lawsuit
By Michael R. Sisak The Associated Press
NEW YORK—ABC News has agreed to pay $15 million toward Donald Trump’s presidential library to settle a defamation lawsuit over anchor George Stephanopoulos’ inaccurate on-air assertion that the president-elect had been found civilly liable for raping writer E. Jean Carroll.
As part of the settlement made public Saturday, ABC News posted an editor’s note to its website expressing regret over Stephanopoulos’ statements during a March 10 segment on his “This Week” program. The network will also pay $1 million in legal fees to the law firm of Trump’s attorney, Alejandro Brito.
The settlement agreement describes ABC’s presidential library payment as a “charitable contribution,” with the money earmarked for a non-profit organization that is being established in connection with the yet-to-be built library.
“We are pleased that the parties have reached an agreement to dismiss the lawsuit on the terms in the court filing,” ABC News spokesperson Jeannie Kedas said. A Trump spokesperson declined comment. The settlement agreement was signed Friday, the same day a Florida federal judge ordered Trump and Stephanopoulos to sit for separate depositions in the case next week. The settlement means that sworn testimony
is no longer required.
The agreement bore Trump’s bold, distinct signature and an electronic signature with the initials GRS in a space for Stephanopoulos’ name. Debra OConnell, the president of ABC News Group and Disney Entertainment Networks, also e-signed the agreement.
ABC News must transfer the $15 million for Trump’s library to an escrow account that’s being managed by Brito’s law firm within 10 days, according to the agreement. The network must also pay Brito’s legal fees within 10 days.
While sizeable, ABC’s contribution to Trump’s presidential library will likely cover just a fraction of the cost. Former President Barack Obama’s library in Chicago, for example, was estimated to cost $830 million as of 2021.
Trump sued ABC and Stephanopoulos in federal court in Miami days after the network aired the segment, in which the longtime “Good Morning America” anchor
and “This Week” host repeatedly misstated the verdicts in Carroll’s two civil lawsuits against Trump.
During a live “This Week” interview with Rep. Nancy Mace, R-S.C., Stephanopoulos wrongly claimed that Trump had been “found liable for rape” and “defaming the victim of that rape.”
Neither verdict involved a finding of rape as defined under New York law.
In the first of the lawsuits to go to trial, Trump was found liable last year of sexually abusing and defaming Carroll. A jury ordered him to pay her $5 million.
In January, at a second trial in federal court in Manhattan, Trump was found liable on additional defamation claims and ordered to pay Carroll $83.3 million.
Trump is appealing both verdicts. Carroll, a former advice columnist, went
Puzzling drone appearances raise alarm throughout New Jersey and East Coast
By Bruce Shipkowski & Ken Miller
The Associated Press
Al A rge number of mysterious drones have been reported flying over parts of New Jersey and the e a st Coast in recent weeks, sparking speculation and concern over who sent them and why. New Jersey g o v. Phil Murphy wrote to President Joe Biden asking for answers. New Jersey’s new senator, Andy Kim, spent Thursday night on a drone hunt in rural northern New Jersey, and posted about it on X. Murphy and law enforcement officials have stressed that the drones don’t appear to be a threat to public safety, but many state and municipal lawmakers have nonetheless called for stricter rules about who can fly the unmanned aircraft.
The FBI is among several agencies investigating and has asked residents to share videos, photos and other information they may have about the drones.
What’s the deal with the drones in New Jersey?
Doze N s o f witnesses have reported seeing them in the state starting in November.
At first they were spotted flying along the scenic r a ritan r ver, which feeds the r o und Valley r e servoir, the state’s largest aquifer, about 50 miles (80 kilometers) west of New York City. But soon sightings were reported statewide, including near the Picatinny Arsenal, a military research and manufacturing facility, and over President-elect Donald Trump’s golf course in Bedminster.
The aircraft have also recently been spotted in coastal areas.
r e publican U s r e p. Chris s m ith said a Coast g ua rd commanding officer told him a dozen drones closely followed a g ua rd lifeboat near Barnegat l i ght and Island Beach s t ate Park in o c ean County over the weekend.
Federal officials offer assurances that drones don’t pose a threat
The growing anxiety among some residents is not lost on the Biden administration, which has faced criticism from Trump for not dealing with the matter more aggressively.
In a call with reporters s at urday that was organized by the White h o use, senior officials from the FBI, Pentagon, FAA and other agencies sought to assure people that the drones are not a national security or public safety threat or the handywork of a malicious foreign actor.
An FBI official, who spoke on condition of anonymity under ground rules set by the White h o use, said the public concern is understandable but added, “I think there has been a slight overreaction.”
T H I s photo provided by Brian Glenn shows what appears to be multiple drones flying over Bernardsville, N.J., on Thursday, December 5, 2024 Br IAN g l e NN / TMX VIA A P
Pentagon spokesperson Maj. g e n. Pat r y der said
Thursday that the military’s initial assessment after consulting with the Department of h omeland s e curity and the National s e curity Council—that the drones are not of foreign origin—remained unchanged.
New Jersey congressman wants the military to take action
A Ne W Jersey congressman has urged the Pentagon to authorize the use of force to bring down one or more drones to try to figure out who deployed them.
The objects could be downed over the ocean or in an unpopulated area on land, s m ith said s at urday at a news conference.
“Why can’t we bag at least one of these drones and get to the bottom of it?” s m ith said.
r e p. Jeff Van Drew, another r e publican Jersey s h orearea congressman, has also called for the military to shoot down the drones.
Monmouth County s h eriff s h aun g o lden said people should not take it into their own hands to shoot down drones, which would break state and federal laws.
Drones have been spotted over New York City Dro N e s ightings have now been reported in New York, where a permit is required, and Mayor e r ic Adams said the city was investigating and collaborating with New Jersey and federal officials.
The runways at s t ewart International Airport— about 60 miles (100 kilometers) north of the city—were shut down for about one hour Friday night because of drone activity in the airspace, g o v. Kathy h o chul said.
“This has gone too far,” she said in a statement. The governor called on Congress to strengthen the FAA’s oversight of drones and give more investigative authority to state and local law enforcement.
e x tending these powers to New York s t ate and our peers is essential,” she said. “Until those powers are granted to state and local officials, the Biden administration must step in by directing additional federal law enforcement to New York and the surrounding region to ensure the safety of our critical infrastructure and our people.”
Are these drones dangerous?
The White h o use has said that a review of the reported sightings shows that many of them are actually manned aircraft being flown lawfully, echoing the opinion of officials and drone experts.
The federal h o meland s e curity Department and FBI also said in a joint statement they have no evidence that the sightings pose “a national security or public safety threat or have a foreign nexus.”
Assemblywoman Dawn Fantasia, who was briefed by the Department of h o meland s e curity, said the reported drones have been up to 6 feet (1.8 meters) in diameter and sometimes travel with their lights switched off. This is much larger than those typically flown by drone hobbyists, and she said they appear to avoid detection by traditional methods such as helicopter and radio. Who sent the drones?
A UT hor ITI e s say they do not know.
The FBI, h o meland s e curity and state police are investigating the sightings. Authorities say they don’t know if it is one drone that has been spotted many times or if there are multiple aircraft being flown in a coordinated effort.
s p eculation has raged online, with some expressing concerns that the drone or drones could be part of a nefarious plot by foreign agents.
o f ficials stress that ongoing state and federal investigations have found no evidence to support those concerns, but r e p. s m ith on s at urday echoed such speculation.
“The elusive maneuvering of these drones suggests a major military power sophistication that begs the question whether they have been deployed to test our defense capabilities—or worse—by violent dictatorships, perhaps maybe r u ssia, or China, or Iran, or North Korea,” he said.
Pentagon spokeswoman s ab rina s ngh said Wednesday that the aircraft are not U s military drones.
What have officials said about the sightings?
Tr UM P ha s said he believes the government knows
public in a 2019 memoir with her allegation that Trump raped her in the mid-1990s at Bergdorf Goodman, a luxury Manhattan department store across the street from Trump Tower, after they crossed paths at an entrance.
Trump denied her claim, saying he didn’t know Carroll and never ran into her at the store.
After Trump lashed out, calling Carroll a “nut job” who invented “a fraudulent and false story” to sell her memoir, she sued him for unspecified monetary damages and sought a retraction of what she said were Trump’s defamatory denials.
Testifying in April 2023, Carroll told jurors: “I’m here because Donald Trump raped me, and when I wrote about it, he said it didn’t happen. He lied and shattered my reputation, and I’m here to try and get
more than it’s saying. “ l e t the public know, and now.
o t herwise, shoot them down!!!” he posted on his social media site.
s e n. r i chard Blumenthal of Connecticut said Thursday that the drones should be “shot down, if necessary.”
“We should be doing some very urgent intelligence analysis and take them out of the skies, especially if they’re flying over airports or military bases,” Blumenthal said.
e x perts, however, warn not to shoot at anything in the sky.
Trisha Bushey, 48, of l e banon Township, New Jersey, lives near r o und Valley r e servoir where there have been numerous sightings and said she doesn’t believe the assertion that the drones aren’t a risk to public safety.
“ h o w can you say it’s not posing a threat if you don’t know what it is?” she said. “I think that’s why so many people are uneasy.”
Are drones allowed in New Jersey?
The flying of drones for recreational and commercial use is legal in the state, but it is subject to local and Federal Aviation Administration regulations and flight restrictions.
In New York City, a permit is required to take off or land an unmanned aircraft.
o p erators must be FAA-certified.
Have drones been spotted anywhere else?
sI gh T IN gs also have been reported in Virginia and elsewhere.
Two people said they spotted an aircraft Thursday night near Virginia Beach that was unlike any other they’ve seen.
The object was over the ocean, and they watched as it slowly moved over an Army National g ua rd facility, John Knight told The Virginian-Pilot.
“It was definitely different,” said Knight, who took videos of what he thinks was a drone the size of a small truck.
“It flew like a helicopter but made no noise,” he added.
The Virginia National g ua rd did not have any aircraft operating in the area Thursday night, according to spokesperson A.A. “Cotton” Puryear. Its leadership is aware of the incident and it’s under investigation.
Another military installation in the area is Naval Air s t ation o c eana Dam Neck Annex. NA s o c eana, the e a st Coast master jet base in Virginia Beach, is aware of recent reports of sightings in the area and is coordinating with federal and state agencies to ensure the safety of its personnel and operations, Katie h e wett, public affairs officer, said Friday by e-mail.
Knight submitted the videos Thursday night to the FBI tip line.
In Massachusetts, 10 to 15 drones were reported hovering over a home Thursday night in h a rwich on Cape Cod. A resident told police they were bright and she observed them for more than an hour.
Miller reported from Oklahoma City. Associated Press writers Bruce Schreiner in Shelbyville, Kentucky, and Aamer Madhani in West Palm Beach, Florida, contributed.
my life back.”
After she’d agreed to help Trump shop for a gift for a woman, Carroll testified that he pushed her against a dressing room wall, stamped his mouth onto hers, yanked down her tights and shoved his hand and then his penis inside her while she struggled against him. She said she finally kneed him off her and fled.
In upholding the $5 million judgment in the first trial, US District Judge Lewis Kaplan wrote that the unanimous verdict was almost entirely in favor of Carroll, except that the jury concluded she had failed to prove that Trump raped her “within the narrow, technical meaning of a particular section of the New York Penal Law.”
Kaplan, who presided over both of Carroll’s lawsuits against Trump, said the definition of rape in the state code was “far narrower” than how rape is defined in common modern parlance, in some dictionaries, in some federal and state criminal statutes and elsewhere.
Under New York law, a rape finding requires vaginal penetration by a penis. Forcible penetration without consent of the vagina or other bodily orifices by fingers or anything else is labeled “sexual abuse.”
The judge said the verdict did not mean that Carroll “failed to prove that Mr. Trump ‘raped’ her as many people commonly understand the word ‘rape.’ Indeed ... the jury found that Mr. Trump in fact did exactly that.” Associated Press writers Jill Colvin and Zeke Miller contributed to this report.
5 heroin traffickers return to Australia after 20 years in Indonesian prisons
By Rod Mcguirk The Associated Press
Mel B o U r N e , A ustralia—Five Australians who had spent almost 20 years in Indonesian prisons for heroin trafficking returned to Australia on s u nday under a deal struck between the two governments, Prime Minister Anthony Albanese said.
The governments confirmed weeks ago that negotiations were underway for Matthew Norman, s c ott r u sh, Martin s t ephens, s i Y i Chen, and Michael Czugaj to be returned to Australia. Their return on s u nday was shrouded in secrecy. There was uncertainty about whether they could potentially serve out their life sentences in Australian prisons. h o wever, Albanese confirmed in a statement s u nday the men returned to Australia as free citizens.
h e a lso thanked Indonesian President Prabowo s u bianto for the men’s release.
“Australia respects Indonesia’s sovereignty and legal processes and we appreciate Indonesia’s compassionate consideration of this matter,” Albanese said.
The five were among a gang of nine Australian smugglers arrested in the Indonesian tourist island of Bali in 2005 as they attempted to fly with heroin strapped to their bodies to Australia. Two convicted ringleaders of the Bali Nine, Andrew Chan and Myuran s u kumaran, were executed by a firing squad in 2015, causing a diplomatic furor between neighbors Indonesia and Australia. o n e of the drug smugglers, Tan Duc Thanh Nguyen, died of cancer in prison in 2018, while r e nae l a wrence, the only woman in the group, was released and returned to Australia the same year.
The agreement was signed Friday during a virtual meeting by Australian h o me Affairs Minister Tony Burke and Indonesia’s senior law minister, Yusril Ihza Mahendra, Australian Broadcasting Corp. said.
The men flew on the Australian airline Jetstar from Indonesia to the northern Australian city of Darwin where they remain, according to ABC. The Australian government had offered the men temporary accommodation, medical care and any other support required, local media reported.
Albanese said they will “have the opportunity to continue their personal rehabilitation and reintegration here in Australia.”
WB warns of risks to PHL’s economic future amid human capital challenges
THe recent report by the World Bank has sounded the alarm on the pressing issue of poor nutrition and inefficient local governance, which threatens to undermine the future of the country’s workforce and economic growth. The data is stark: the country’s Human Capital Index (HCI) score of 0.52 lags behind its peers, with Vietnam and Malaysia boasting scores of 0.69 and 0.61, respectively. This disparity is a warning sign that the country’s productivity and economic progress are at risk. (Read the BusinessMirror story, “Poor nutrition, bad LGU to imperil PHL workforce: WB,” December 12, 2024).
The World Bank’s report underscores the importance of investing in human capital as a critical component for achieving sustainable economic growth. The Philippines’ low HCI score is a direct result of prevailing rates of mortality, poor schooling achievements, and subpar health outcomes. The statistics are alarming: 27 percent of five-year-olds are stunted, and one in four children under the age of five is stunted or underweight. Furthermore, despite spending an average of 12.95 years in school, similar to Vietnam’s 12.86 years, Filipino students are not learning as much as their Vietnamese counterparts.
The report highlights the significant disparities in human capital potential across provinces and Highly Urbanized Cities (HUCs), with HCI score estimates ranging from 0.48 to 0.74 nationwide. The lowest performing provinces and HUCs are concentrated in regions such as Bicol, Central Luzon, Davao, Soccsksargen, and Zamboanga Peninsula. These regional disparities are a result of governance and service delivery inefficiencies, which lead to varying stunting rates across the country.
The World Bank’s report serves as an urgent warning, urging the government to take immediate action by making investments in human capital a top priority, with a specific focus on education, health, nutrition, and skills development. The country’s leaders must acknowledge that the current state of human capital formation is a major constraint to productivity and economic growth. By prioritizing investments in its workforce, the country can unleash its economic capabilities and harness the potential of a “demographic dividend,” a window that will remain open for the next 20 to 25 years.
The importance of human capital investment cannot be overstated. As economist Hans-Helmut Kotz aptly puts it, “Human capital is the most important investment we can make.” Education and training are essential to equipping the workforce with the skills and knowledge necessary to drive economic growth. Moreover, good nutrition is critical to ensuring that children grow up healthy and able to reach their full potential.
It is time for national leaders and economic managers to address the pressing issues of poor nutrition and inefficient local governance. This requires a concerted effort to improve the delivery of basic services and increase investments in education, health, and nutrition.
The World Bank’s assertion that the Philippines has a unique opportunity to achieve economic prosperity before facing the challenges of an aging population should serve as a rallying cry for action. The path forward is clear: We must prioritize human capital as a cornerstone of our economic strategy. Ensuring that every child has access to quality education, proper nutrition, and effective healthcare is not just a moral obligation; it is an economic necessity.
BusinessMirror
The continuing quest for sustainable educational outcomes
TRISING SUN
He decision to cut P12 billion from the Department of education’s (Deped) budget for 2025 has sparked a heated debate, with various perspectives coming out on the effects and justifications of this fiscal adjustment.
Despite the cuts, the DepEd’s annual budget for 2025 has actually increased by P20 billion compared to the 2024 budget. According to Sen. Grace Poe, chair of the Senate finance committee, this overall increase demonstrates the government’s continued commitment to prioritizing education. Additionally, the budget for teaching supplies allowance has more than doubled from P4.825 billion in 2024 to P9.948 billion in 2025, highlighting the government’s emphasis on directly supporting teachers and students. While this increase is a positive step, we have to note that further measures are definitely necessary
to support teachers who are often overworked, underpaid, and forced to cover classroom expenses out of their own pockets.
The reduction in specific programs, particularly the P10 billion cut from the DepEd Computerization Program, has raised significant concerns. Education Secretary Sonny Angara expressed disappointment, noting that this program was intended to bridge the digital divide, an issue that became glaringly evident during the Covid-19 pandemic. Critics argue that deprioritizing this initiative could worsen existing inequalities and leave millions of students unprepared to meet the
The reduction in specific programs, particularly the P10 billion cut from the DepEd Computerization Program, has raised significant concerns. Education Secretary Sonny Angara expressed disappointment, noting that this program was intended to bridge the digital divide, an issue that became glaringly evident during the Covid-19 pandemic.
demands of a technology-driven world, especially as AI technology continues to transform the modern landscape. This digital divide, while a significant issue, can actually be addressed through other initiatives such as public-private partnerships, community-based programs, and collaborations with technology companies. These alternative solutions may even be more cost-effective and sustainable in the long run. Moreover, reducing government funding for certain programs can actually create opportunities for private sector participation and investments in education, leading to more innovative and efficient solutions. Private enti-
ties often bring in new technologies, management practices, and funding models that can complement public efforts, enhancing the overall educational landscape.
The decision to cut P12 billion from the DepEd budget for 2025 is a multifaceted issue involving various factors. Although the overall DepEd budget for 2025 has increased, the reductions in specific programs highlight the need for fiscal prudence and efficiency. By addressing systemic problems, balancing national priorities, and exploring alternative solutions, the government can strive to create a more sustainable and effective education system. Ultimately, we must remember that education is a right, not a privilege, and that investing in it is both a constitutional obligation and a moral imperative. The government must continue to prioritize education while ensuring that resources are used efficiently and effectively. The ultimate goal should be to establish a comprehensive education system that supports both teachers and learners, while equipping them to face the many challenges of the modern world.
Nippon Steel’s ‘Plan B’ now in focus as $14B US deal falters
By Shoko Oda & Stephen Stapczynski
NIPPoN Steel Corp. had high hopes for the $14.1 billion takeover of United States Steel Corp. But with the deal now likely to unravel, the biggest Japanese steelmaker will be forced to consider next steps for rapid growth.
The bid for the once-fabled American company ran into a maelstrom of political opposition in the US in the run-up to the presidential election. President Joe Biden is planning to formally block the acquisition before the end of the month, Bloomberg reported this week.
That’s left Nippon Steel, which aimed to boost crude steel production capacity by 30 percent with the US Steel deal, in the lurch. The takeover, which would have made it the world’s No. 3 steelmaker, was aimed at reducing its dependence on the waning Japanese market and helping it compete with the big mills in China, whose excessive output and surging exports has sparked a trade backlash around the world.
Nippon Steel could bolster efforts in other growth markets, namely India, said SBI Securities Co. analyst Ryunosuke Shibata. “It’s an attractive market considering growing population and demand.”
India’s government has set a target of almost doubling annual crude steel output capacity to 300 mil-
lion tons by 2030 to meet surging demand. Nippon Steel already has a joint venture there, Arcelormittal Nippon Steel India Ltd., and has plans to expand capacity at a plant in western India.
“There could be some big steel companies, say in India, that they could make a big play for,” said Sumit Agarwal, a finance professor at the National University of Singapore. Other bright spots include Vietnam and Indonesia, where demand for steel will continue to increase, he said. The Japanese company has previously flagged Southeast Asia as a target for expansion.
Nippon Steel is “confident that our proposed partnership is the best path forward to secure the future of US Steel,” a spokesperson said in an e-mailed response, declining to elaborate further on its plans should the deal be blocked. The company will work with US Steel “to consider and take all available measures to reach a fair conclusion” if necessary.
The Japanese company is likely to keep up with its presence in the US,
Where the steelmaker looks to find growth will be under focus. China—with its state-dominated and bloated steel sector—is not a realistic option. Nippon Steel exited a joint venture there in July as Japanese automakers struggled to maintain market share in Asia’s biggest economy. In supplying India and Southeast Asia, the company will face stiff competition from Chinese rivals.
where it has been since the 1980s. And could even look at ways to grow its existing business there. Nippon Steel operates integrated mills and has another joint venture with ArcelorMittal that runs a steel processing plant in Alabama.
Or it could try to salvage the US deal in court. Nippon Steel and US Steel are poised to pursue litigation over the process if Biden doesn’t grant approval, Bloomberg reported. However, such a strategy would be lengthy and the outcome would be uncertain.
“The president’s decision isn’t subject to review, so a court challenge would face a difficult path,” Bloomberg Intelligence litigation analysts Holly Froum and Richard Bourke said in a note on Wednesday. The US deal traces its beginning to last December, when Nippon Steel swooped in to buy the American firm for $55 a share in cash—significantly higher than a recently rejected offer from domestic rival ClevelandCliffs Inc.
But a foreign takeover of an iconic American company based in the swing state of Pennsylvania proved too politically difficult. Leaders at the United Steelworkers union opposed the deal from the start, while Biden, Democratic presidential candidate Kamala Harris and Republican nominee Donald Trump were all against it. The acquisition came under review by Committee on Foreign Investment in the United States, which raised concerns that Nippon Steel’s lower-cost steel mills in India could potentially replace American capacity. Where the steelmaker looks to find growth will be under focus. China— with its state-dominated and bloated steel sector—is not a realistic option. Nippon Steel exited a joint venture there in July as Japanese automakers struggled to maintain market share in Asia’s biggest economy. In supplying India and Southeast Asia, the company will face stiff competition from Chinese rivals. “It’ll be difficult given Chinese
Atty. Jose Ferdinand M. Rojas II
Tech-driven government environmental sustainability efforts
AJoel L. Tan-Torres
DEBIT CREDIT
Part six
recent environmental protection law passed in the Philippines is republic Act 11995 or the Philippine ecosystem and natural capital Accounting System (PencAS) Act. this was signed into law on May 22, 2024.
This law institutionalizes a framework for the systematic accounting of the country’s natural resources and ecosystem services. The goal is to integrate natural capital valuations and accounting into national and local development planning for economic decision-making and government regulatory functions.
This law will better promote sustainable resource management, green environment programs, and economic resilience. This landmark law demonstrates the Philippines’ commitment to balancing economic growth with environmental sustainability while positioning itself as a regional leader in implementing advanced environmental policies.
The PENCAS provides for Natural Capital Accounting (NCA) system. The NCA establishes a comprehensive system to quantify and monitor the contributions of natural resources such as forests, water, and biodiversity to the economy. With the NCA, this will enable policymakers to assess the impacts of economic activities on ecosystems and vice versa.
The Philippine Statistics Authority (PSA) leads the development of natural capital accounts in collaboration with other agencies, local government units and other stakeholders, including those from the private sector Environmental Protection. I particularly note with full agreement the inclusion in the law the implementation of PENCAS of the Department of Environment and Natural Resource (DENR), the Department of Finance (DOF), the Professional Regulations Commission (PRC), Department of Education (DepEd), Commission on Higher Education (CHED) and the Technical Education and Skills Authority (TESDA), among other government institutions.
PENCAS provides that the DENR will integrate NCA in Environmental Impact Assessments, ensuring that ecosystem services are considered in
project evaluations.
Capacity building in formal education is mandated to be conducted to promote awareness and skills related to natural capital accounting. The law also calls for professional development programs to align industries and policymakers with the principles of NCA. Implementing this capacity-building exercise will involve the CHED, DepEd, and TESDA and all academic institutions. The role of PRC in coordination with the Professional Regulatory Board of Accountancy is essential since the formulation of the NCA will extensively involve accounting and financial valuation expertise. The involvement of the other stakeholders in the accountancy profession, including the Philippine Institute of Certified Public Accountants, is needed. The development of NCA to what is now globally started way back in the 1970s when Environmental Accounting was first introduced, and it subsequently moved forward to the Green Accounting era of the 1990s. I can foresee that this will be a popular subject for Continuing Professional Development courses in the years to come.
The Department of Finance, together with its attached agencies, including the Bureau of Internal Revenue, has an important role in PENCAS. I will discuss this further in my column next week.
To be continued
Joel L. Tan-Torres was a former Commissioner of the Bureau of Internal Revenue. He has also held the various positions of Dean of the University of the Philippines Virata School of Business, Chairman of the Professional Regulatory Board of Accountancy, Tax partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co., and director of various corporate boards. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He is now back to his tax and consultancy practice and can be contacted at joel@ onecfo.com and his firm JL2T Consulting.
US spoke directly with Syrian rebel govt, Blinken says
By Iain Marlow
THE US has had direct talks with the rebel group that took power in Syria, Secretary of State Antony Blinken said on Saturday in Jordan, as he wrapped up a Middle East trip focused on the way forward after the fall of Bashar al-Assad’s regime.
Blinken also held out the prospect of sanctions relief, saying the US “will look at various sanctions and other measures we’ve taken and respond in kind” as Syria’s post-Assad transition meets goals laid out by the US, Blinken told reporters in Aqaba.
US officials have spoken directly with Hayat Tahrir Al-Sham, as well as other groups, on a set of principles the US and Arab partners want to guide Syria’s political transition as well as the importance of finding missing US journalist Austin Tice, Blinken said.
“Yes, we’ve been in contact with HTS and other parties—we’ve impressed upon everyone we’ve been in contact with the importance of helping find Austin Tice and bringing him home, and we’ve also shared the principles that I just laid out,” Blinken said. The Biden administration has warned Hayat Tahrir Al-Sham, an Islamist offshoot of al-Qaeda that has projected a more moderate image since ascending to power in Syria, that it could end up internationally isolated if
Life can be beautiful
Bit doesn’t abide by principles laid out by the US and others.
Those include protecting and allowing aid to reach all of Syria’s minorities, preventing Syria’s territory from being used to menace neighboring countries, and securing or destroying Assad’s chemical weapons stockpiles.
If the new government abides by those principles and forms an “inclusive” government representing all Syrians, Blinken has said, the US is prepared to recognize Hayat Tahrir Al-Sham—a US-designated terrorist group—as the legitimate government of Syria.
That would allow for broader diplomatic recognition and could eventually enable relief from US sanctions.
The US, the European Union, Turkey and numerous Arab states issued a joint statement later Saturday calling for an end to hostilities in Syria and saying the country can end its international isolation if it abides by principles agreed on at Aqaba.
The UN must be allowed to scale up humanitarian activities in Syria, while the new government must protect diplomatic facilities, according to the statement.
Blinken spoke after senior US and United Nations officials met with foreign ministers from across the Middle East to discuss Syria’s future as countries seek a unified approach to its political upheaval and violence. Bloomberg
Siegfred Bueno Mison, Esq.
THE PATRIOT
Ar results came out as scheduled. Kudos to the Supreme court and the 2024 Bar committee led by Justice Mario Lopez for making the Bar pass or fail experience “efficient” for the Bar candidates and their families. Back in the pre-Internet days, waiting for the verdict whether you pass or fail can be excruciating if not chaotic.
Most Bar examinees literally flock to the streets in Padre Faura, Manila and valiantly look for their names in several sheets of paper posted in alphabetized bulletin boards. Amid the hot and humid weather in the summer months of April or May, some examinees personally and anxiously search their names in the list. Others prefer to let family or friends discover the news, good or bad, on their behalf.
One former work colleague (ECJ) did not make the mark last Bar 2023. The odds were simply stacked against her, for reasons beyond her control. There was an untimely death in the family. A serious case was filed against her. Her sister got fired from a stable job. All these events impacted her ability to financially provide for her mother and her siblings, which made her lose focus. In the middle of her review in 2023, she was about to give up. She didn’t. Hoping and praying for divine providence, she still failed despite coming from a law school that consistently produces Bar topnotchers and usually ranks among the top three schools in terms of passing percentage. It was painful to see how my ECJ failed her phalanx of supporters. Her prayers to pass the Bar seem unanswered.
Distraught and discouraged, she almost didn’t take the exam this 2024. She did, but only after a few words of encouragement and tons of prayers. Her story this time around was different; she passed. In her testimony shared among former colleagues, ECJ said that her conquest was only made possible by the grace of God. She’s a prayerful person yet she got intimately much closer to Him after all the adversities she encountered. I too had my share of trials and challenges. Similar to how they transformed ECJ, I believe these were sent to specific stages in our
lives at the proper time. For some, it might take a slight nudge, as in one drawback in life, for them to move closer to Him. For others, like me and perhaps ECJ, it may take a series of drawbacks, as if God was using a megaphone to remind us that He is always present. Either way, whenever we stumble and fall, we must push forward and learn from the lessons of our failures.
Failed the Bar? Take it again! Famous Americans initially failed the bar exams and yet went on to carve an important niche in history. Michelle Obama, the former First Lady graduated from Harvard Law School but fell flat at the Illinois bar exam on her first attempt. Hillary Clinton, the former Secretary of State, US Senator from New York, and 2016 Democratic presidential nominee graduated from Yale Law School. She flunked her first bar exam bid in the District of Columbia but passed the test in Arkansas the same year. John F. Kennedy Jr. failed the New York State bar exam twice before finally making it on his third try. He proceeded to work as an assistant district attorney in New York City. And who would ever think that President Franklin D. Roosevelt (FDR) failed the bar exam on his first attempt? But as records have it, he became one of the most admired heads of a country that he staunchly steered through the Great Depression and World War II. Former VP Leni Robredo also failed the bar on her first attempt, but after passing became a successful human rights lawyer, congresswoman and one of the best VPs the country ever had. In biblical history, God considered David as a man after His own heart, despite knowing that he would sin in the future (because God knows our future). And He knew that David would repent, after the oh so many failures, because David
Passing the bar exam or even failing it should steer us into giving praise to Him. Regardless of our circumstances, we rejoice and pray continually and give thanks, these being the Will of our Heavenly Father for us.
has a burning faith in Him and love for His Word. The list of failures can go on. But it need not besmirch the beauty of life. Lost a business? Put up a new one! Got rejected by a partner? Love all the more. God’s Word encourages us to persevere, hence, “Consider it pure joy, my brothers and sisters, whenever you face trials of many kinds, because you know that the testing of your faith produces perseverance. Let perseverance finish its work so that you may be mature and complete, not lacking anything” (James 1:2-4). As to when to give up and set sail towards a different direction in career, business, or in love relationships, then it is a matter of trust in His promise to those who believe in Him. “He has made everything beautiful in its time...” (Ecclesiastes 3:11). Our Heavenly Creator desires only what is beautiful. It is God’s nature. And He is all about restoration in one’s failings. So, each time we fail in life’s challenges (or fall through sin), we can still be grateful knowing that our Abba Father loves a good comeback story. Paul reminds us in Scripture that “in all things God works for the good of those who love him, who have been called according to His purpose.” ( Rom. 8:28) We need only recall Peter, the disciple, whose story exemplifies the power of restoration. Believers rely on the truth that no matter what they may have done, they can always expect God to be at work in reclaiming our story. Peter was always courageous and confident – the disciple willing enough to try walking on the water ( Matthew 14:28-29). When Jesus predicts that Peter will deny him, Peter proudly rejects him. ( Matthew 26:34-35 ) But that same night after Jesus is arrested, somebody comes up to Peter in the courtyard of the Sanhedrin and accuses him of being a follower of Christ. And, just as Jesus predicted, Peter denies him three times. When he realizes what he has done, he breaks down and weeps resentfully. ( Mark 14:66-72) Now, Peter’s failure (and fall) certainly did not exclude him from
God’s plans. Quite the reverse, Peter is the first of the 12 who Jesus appears to! (Luke 24:34). He restores Peter in a poignant moment at the Sea of Galilee. (John 21:15-17 ) Peter goes on preaching the first evangelical message on account of which more than 3,000 people get saved! ( Acts 2:14-36 )
Truthfully, life can be difficult in the midst of failure or rejection. It can be all the more arduous to fall because of a mistake or a sin. In those instances, the colors around us are grey, so to speak. Those who fail or get rejected and fail to seek refuge in God are weighed down by the sheer heaviness of it all. They are not immediately inclined to rise up and persevere. During these difficult moments, followers of Jesus are to set the bar high and conscious of His presence in every area of their lives! If we are to look at life with lenses that are not fixed on Jesus, no amount of color can ever make life beautiful. Let’s veer away from earthly standards of beauty and see what the Lord has set as an “eternal weight of glory beyond all comparison” (2 Corinthians 4:16-18). Passing the bar exam or even failing it should steer us into giving praise to Him. Regardless of our circumstances, we rejoice and pray continually and give thanks, these being the Will of our Heavenly Father for us (1 Thessalonians 5: 16-18). ECJ managed to rejoice despite the first fall at the bar examination. She kept praying incessantly and gave thanks. As things turned out, some of her friends who failed this 2024 now come to her for encouragement. ECJ has become a “beautiful life coach” to those who are likely experiencing the same emotions ECJ had after her 2023 Bar disappointment. Over time, ECJ endured and persevered to appreciate beauty of life notwithstanding a letdown. Who knows, ECJ might just end up doing a Leni or a Hilary. After all these events in her beautiful life, I’m sure ECJ will beautifully do things for the country.
A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.
French credit rating cut on crisis that imperils finances
By Zoe Schneeweiss, William Horobin & Phil Serafino
Moody’S ratings cut France’s credit grade, heaping pressure on the new government to bring a ballooning deficit under control after far-right leader Marine Le Pen toppled the previous prime minister over a budget dispute.
In an unscheduled change, Moody’s lowered its assessment of the euro area’s second-biggest economy to Aa3 from Aa2, three levels below the maximum rating. France has already been cut to equivalent levels by Fitch and S&P.
The decision “reflects our view that the country’s public finances will be substantially weakened over the coming years,” Moody’s said in a statement. “There is now very low probability that the next government will sustainably reduce the size of fiscal deficits beyond next year.”
The rebuke came just hours after President Emmanuel Macron appointed Francois Bayrou as the country’s fourth premier in a year. Bayrou’s predecessor, Michel Barnier, was ousted in a confidence vote December 4 after Le Pen’s National Rally lined up alongside left-wing parties to protest his plans for narrowing France’s budget deficit.
Outgoing Finance Minister Antoine Armand said the downgrade reflects the recent parliamentary developments and uncertainty around the budget.
“The nomination of Francois Bayrou as prime minister and the
reaffirmed will to reduce the deficit will provide an explicit response,” Armand said in a social media post.
To avoid a no-confidence vote from the left, Bayrou will have to pledge not to use the same constitutional maneuver that Barnier employed to push the budget through without a vote in the National Assembly, Marine Tondelier, the head of the Green Party, said Saturday in an interview on France Inter radio.
The government’s collapse and the scrapping of France’s 2025 budget add to months of political upheaval that has already hammered business confidence, with the country’s economic outlook steadily deteriorating.
Barnier’s budget foresaw significant belt tightening by historical standards to bring the deficit to 5 percent of economic output from 6.1 percent this year.
France has long been out of compliance with European Union rules that require member states’ debt to be below 60 percent of GDP and a deficit under 3 percent.
Bayrou will likely have to pare back those ambitions in order to
The decision “reflects our view that the country’s public finances will be substantially weakened over the coming years,” Moody’s said in a statement. “There is now very low probability that the next government will sustainably reduce the size of fiscal deficits beyond next year.”
get support from some of the lawmakers who toppled Barnier, but economists say the final outcome may even be no improvement.
Plans to repair public finances were already derailed this year by poor tax revenues as consumer spending and corporate profits disappointed. The task became more complicated after Macron called a snap parliamentary election in June in an attempt to rebound from defeat in the European elections. Instead, his centrist coalition lost further ground, and the National Assembly was divided into three blocs, none with a majority—Le Pen’s far-right group, the centrists and the NFP on the left. The political turmoil drove the yield spread between French government bonds and their German counterparts to the widest since 2012, though it has since narrowed somewhat, to about 78 basis points. The Moody’s downgrade could cause the spread to widen again toward 90 basis points, said Vincent
Juvyns, global market strategist at JPMorgan Asset Management, adding that he wouldn’t expect markets to be “over-concerned” by such a move.
“Sentiment is rather good on the European sovereign debt market,” Juvyns said in a phone interview.
“There are a lot of investors looking for extra yield who will be interested in buying French debt if there is an attractive discount.”
The first task for Bayrou, a veteran centrist who’s supported Macron throughout his presidency, is to appoint a slate of government ministers. He’s spending the weekend consulting other political leaders, including Yael Braun-Pivet, the president of the National Assembly. He met Friday, his first day on the job, with Bruno Retailleau, the outgoing interior minister known as a fierce opponent of immigration, to the annoyance of some on the left.
Tondelier, whose Green Party is part of the leftist NFP coalition, said the meeting with Retailleau was a bad sign for Bayrou’s longevity in the job.
“We’ll have to wait and see what he does in the next few days,” she said in the radio interview. “Today, I can’t see how he can convince us not to censure him, especially if he doesn’t call us. And if his first political gesture is to receive Bruno Retailleau, it’s not looking good.” With assistance from Julien Ponthus /Bloomberg
‘Veto power of Marcos can remedy proposed budget’
By Butch Fernandez @butchfBM
THE outrage over the bicameral conference committee’s huge cuts on the 2025 budgets for education and health, while padding those for public works and for a controversial doleout fund to be dispensed by lawmakers, can still be remedied by presidential intervention.
Former senator Panfilo M. Lacson offered this option as he joined Sen. Pia Cayetano at the weekend in denouncing the huge cuts on the health and education sector budgets for 2025, a “super election year.”
According to Lacson, who had a reputation, as senator, of being the most diligent in scrutinizing annual appropriations, the “unconstitutional” state of things in the final product of the budget bill can be remedied if President Ferdinand Marcos Jr. exercises his line item veto.
He was referring to what he called the “blatant” violation of the constitutional mandate to allot to education the biggest slice of the national budget.
A rt 14, Sec 5(5) declares, Lacson noted, that “The State shall assign the highest budgetary priority to education and ensure that teaching will attract and retain its rightful share of the best available talents through adequate remuneration and other means of job satisfaction and fulfillment.”
However, Lacson lamented,
“The bicameral conference committee reduced the DepEd budget to P737 billion and increased that of the DPWH to P1.113 trillion.”
In a statement, he said, “Only the President can save the Constitution from becoming wastebasket-bound by exercising his line item veto power once the Enrolled Bill lands on his desk.”
I n a separate statement, Cayetano said: “I am deeply disappointed by the substantial cuts made to the 2025 budgets of the Department of Health [decreased by P25.80 billion], Department of Education [decreased by P11.57 billion], Commission on Higher Education [decreased by P26.91 billion], and the University of the Philippines [decreased by P641.38 million].”
“ The national budget, as the principal development tool of the government, reflects its priorities. Based on the cuts that have been made, it appears that health and education—two of the most pressing issues of the Filipino family— is not a priority.”
The cuts, stressed Cayetano, “hit directly at the millions of Fili-
CREATION OF ‘MEGA GOVT TASK FORCE’ VS. RICE PRICE MANIPULATORS PUSHED
By Jovee Marie N. Dela Cruz @joveemarie
PEAKER Ferdinand Martin
Spinos who are already struggling to keep their families healthy, and to send their children to school.”
A s Senior Vice Chairperson of the Finance Committee who has handled these agencies’ budgets in the Senate, Cayetano said she is “bothered by this change in direction. We have made significant progress over the years, but this is a terrible step backward.”
Health and education must always be our top priority if we are to build a stronger, more sustainable future for all. We must never compromise on our commitment to always put quality healthcare and education first for every Filipino, as these serve as our foundation for a better future for generations to come.”
In a statement released last December 12, the senator decried the zero budget subsidy of PhilHealth as it directly contradicts existing sin tax laws. She has championed the increase in sin tax rates in order to funnel more funds into health, and is protesting the violation of the universal health care law with the priority changes in PhilHealth’s funds.
G. Romualdez on Sunday called for the creation of a “mega government task force” to take decisive action against rice price manipulators and unscrupulous traders engaging in profiteering.
A call to immediate action is needed to force a decrease in rice prices for the benefit of the Filipino consumer,” said Romualdez.
He made the proposal after the House Quinta Comm chaired by Ways and Means Committee chairman Rep. Joey Salceda of Albay uncovered alarming evidence of collusion and price manipulation in the rice industry, despite reports of oversupply and reduced import tariffs.
Romualdez said his proposed task force may be composed of the Department of Agriculture (DA), Department of Justice (DOJ), including the National Bureau of Investigation (NBI), Bureau of Customs (BuCor), Bureau of Internal Revenue (BIR), and Department of Trade and Industry (DTI).
He said the task force should have the power to conduct inventories, check on com-
PIDS: Changes in family structure reshaping housing demand in PHL
By Bless Aubrey Ogerio
CHANGES in household structure, including an increase in extended and multigenerational households, are reshaping housing demand in the country, according to a government think tank.
The Philippine Institute for Development Studies (PIDS) noted a deceleration in new household formation as young adults aged 24 to 34 increasingly stay with their parents, delay marriage, or choose not to marry at all.
D ata from the Philippines Statistics Authority (PSA) showed that in 1980, 73 percent of Filipinos were household heads or spouses by age 34, increasing to 90 percent by age 44. However, by 2020, these figures had dropped to 59 percent and 80 percent, respectively.
Th is trend, coupled with declining fertility rates (from 6.0 in 1970 to 1.9 in 2020) and longer life expectancy, has led to smaller nuclear families but larger household sizes overall.
Additionally, a considerable portion of the population lives in households with six or more members, particularly in urban areas where housing affordability remains a major challenge.
A n analysis of household structures in the country showed that nuclear households, while still the most common arrangement, have decreased from 71 percent in 1990 to 61 percent in 2020. Meanwhile, extended and multiple-family households rose from 25 percent to 29 percent during the same period.
“Economic conditions such as rising cost of living and housing prices, economic recession, etc., are causing a rise in shared housing, extended and multigenerational households,” PIDS said.
T hese trends, seen in developed economies like the
pliance with tax laws and rules, inspect warehouses, and to immediately padlock any erring business establishment.
Romualdez proposed that the task force submit a monthly report to Congress as part of its oversight functions.
He said he could not understand why rice prices remain at about P50 per kilo, when these should have gone down due to sufficient supply and a reduction in importation cost.
“ The findings of the Quinta Comm expose a serious betrayal of public trust. The Filipino people are paying unnecessarily high prices for rice, which should now be at P35 to P40 per kilo due to oversupply and tariff reductions. This blatant manipulation is unacceptable,” he said.
“ We will not allow this exploitation to continue. The House of Representatives will dismantle this cartel, ensure accountability, and protect both consumers and our farmers,” he added.
During the recent hearings of the Quinta Comm, also known as the Murang Pagkain Super Committee, lawmakers revealed a disturbing pattern of price-fixing and hoarding among rice importers and traders.
Investments in TSEZ hit P18B–Peza
United States, where shared households hit 20 percent in 2019, are still more pronounced in the Philippines due to widespread poverty and a large lowincome population.
T he mismatch between housing prices and affordability, which has remained unresolved for decades, is also a factor.
Children, relatives staying longer in parental homes can lead to congestion as larger sized homes are even more difficult to attain in the market,” the report read.
Differences
DESPITE urban migration, a significant proportion of rural residents live in larger households which reflect constrained housing options even outside city centers.
Th e working population in cities grew from 60 percent in 1990 to 66 percent in 2020, and urbanization rose from 48.8 percent to 54 percent during the same period, according to PSA.
PIDS urged the government to move beyond simplistic population growth-based housing projections and called for a deeper understanding of demographic and socioeconomic trends.
Understanding whether the housing need is quantitative or qualitative using historical context of household formation and structure is critical as qualitative deficit requires a different intervention from that of adding new housing stock,” it said.
It is important to have a policy framework that will balance productive environment and housing consumption. For instance, giving incentives to SME employers for workers housing support,” it added.
PIDS also mentioned the importance of addressing the housing needs of an aging population, noting that “housing need is beyond the owner [or] renter dichotomy.”
TBy Andrea E. San Juan @andreasanjuan
HE Toyota Special Economic Zone (TSEZ), which houses Toyota Motor Philippines Corp. (TMP), has already generated P18 billion in investments and hired over 3,000 workers as of November 2024, according to the Philippine Economic Zone Authority (Peza). As of November 2024, TMP and other locators in TSEZ already injected more than P18 billion worth of investments and hired above 3,000 workers,” Peza said over the weekend. T he agency said TSEZ has generated these investments since 1995.
According to the investment promotion agency, the other TSEZ locators are Aichi Forge Philippines, Inc., Toyota Aisin Philippines Inc., Philippine HKR Inc., and TRP Inc. Peza said TMP President Masando Hashimoto and representatives of TSEZ locators and Toyota Group’s Export Suppliers delivered performance updates of their respective operations during the 25th Toyota Special Economic Zone Regular Update to Peza last December 12 in Pasay City. W hile TSEZ locators shared their “bright” company outlook for 2025, Peza said these firms laid out their concerns on their export operations and logistics. Among the concerns raised were CREATE MORE incentives, clarification on VAT, digitalization on processes and request for Peza to support TMP’s advocacies with the Department of Trade and Industry [DTI],” it said. In a Viber message sent to the BusinessMirror, Peza said TSEZ locators also raised issues related to the Comprehensive Automotive Resurgence Strategy (CARS) program. The agency, however, did not reveal their concerns. “I t’s confidential so we’re not at liberty to disclose. But some issues include VAT and the CARS program,” the investment promotion agency said.
Editor: Jennifer A. Ng
B1 Monday, December 16, 2024
Meralco eyes ₧50B for upgrades
By Lenie Lectura @llectura
THE Manila Electric Co. (Meralco) may earmark as much as P70 billion to improve its distribution network and roll out smart meters, among others, over the next five years.
Of the amount programmed from 2025 to 2029, P30 billion may be allotted for infrastructure enhancement and P40 billion to finance the roll out of four million smart meters. Network improvement may involve storm hardening initiatives,
system improvement projects and pole relocation. Meralco said it foresees the need to be even more aggressive in investing in grid modernization projects and operational efficiency through advanced metering infrastructure (AMI) that will
make the network more robust, more resilient, and more intelligent.
Meralco, according to First Vice President and Head of Networks
Froilan J. Savet, will initially rollout 390,000 smart meters from 2025 up to the first half of 2026. This will involve a capital expenditure of P4.56 billion. Meralco will also deploy next year its mobile medium-voltage switchgear.
Meralco spent P26 billion for capex during the nine months of the year, of which P5.3 billion were utilized for distribution network projects that included new connections, asset renewals, and load growth projects, among others. The balance was used for the development of solar
power plants and facilities for the telco tower business.
Meralco is expecting to exceed the P43-billion profit guidance set out in the first half, paving the way for another year of record earnings.
“We look forward to another profitable year in 2025 from organic growth and contributions from our new investments. We remain optimistic about the continued expansion of the country’s economy under the leadership and tutelage of President Ferdinand Marcos, Jr., with full-year economic growth forecasts hovering around 6 percent, and the potential to outpace other Southeast Asian nations,” Meralco Chairman Manuel V. Pangilnan earlier said.
Megaworld to launch 3 townships next year
MEGAWORLD Corp., the listed property development arm of businessman Andrew Tan, will launch at least two to three townships next year.
Megaworld executive director Kevin Andrew L. Tan said the company is still finalizing the plan, but two to three launches will be its minimum for next year, adding that he is still optimistic next year.
“I think that thats the biggest
thing to look forward to next year, the interest rates going down,” Tan said.
He added that the company remains bullish on the residential segment, mainly on the luxury market that was only slightly affected by the high interest rates that has dampened the low segment and the middle segment of the market.
“We’re bullish on that segment (luxury) and [with] interest rates going down, I think that will be good
for the property market,” Tan said. The company, notably, will start construction of its casino in Boracay, Aklan; expected finished by 2026. Tan said the firm already have a Pagcor license.
Alliance Global Group Inc., the holding firm of Tan’s businesses, earlier said it will pour some $300 million in investments to put up an integrated resort and casino in Boracay island.
Tan, also AGI’s president and CEO, said the project will be carried out by its gaming unit Travellers International Hotel Group Inc.
“It’s not going to be very big. It’s like a boutique style. A boutique casino… because we don’t want a big structure in Boracay. We want it to be just right for the island. We’re having a more sustainable design so it will be right for the island,” Tan said earlier. VG Cabuag
Ikea won’t open store but to add new services in ’25
By Andrea E. San Juan @andreasanjuan
EXECUTIVES of the local opera-
tor of Swedish furniture retailer Ikea brand won’t be adding a store next year in the Philippines; noting it’s “ambitions” to expand is linked to the growth of the country’s middle class.
“We’re willing to expand. The middle class is getting richer and richer. There’s only so many people that can buy at IKEA right now and we’re looking forward to see growth,” Max Von Bodungen, the digital and remote selling manager of Ikano (Philippines) Inc., the company that operates the Ikea business locally.
Von Bodungen also told reporters on the sidelines of the launch of the Philippine market report by Business Sweden and the Embassy of Sweden that he “saw some wonderful charts here.” He added last Thursday the company also noted “the announcement that the Philippines is going to be upgraded to higher middle class.
“Of course, we need a lot of consumers. It’s all a numbers game from IKEA,” Von Bodungen said. However, he said there are no “signed plans” yet in terms of expanding or adding another store in the country.
“The truck delivery for the big orders, that’s also expanding in Luzon and in Cebu and other areas,” the Ikea official noted, adding that there are still a lot of untapped markets in the country for the furniture retailer.
For next year, Von Bodungen said that as much as the Swedish retailer would want a double-digit growth in sales, he noted that “it’s the Filipino customer that decides if it’s going to be double-digit growth or not.”
“We certainly have the ambition to have double digit growth where, like I said, we’re expanding so you can get delivery and more services, assembly service and installation services in more areas. And of course, that’s a crucial part to be able to reach the customer better,” he said. At the launch of the Philippine Market Report 2024 by Business Sweden and Embassy of Sweden, the Johann Lennefalk, Trade Commissioner of Sweden to the Philippines divulged that Swedish firms see potential in the Philippines given its “resilient” economy, increasing consumer base and growing middle class, among others.
“But that was the intent ever since we started here in 2016,” Von Bodungen said. “There are no commitments yet, but there are certainly ambitions to expand. It’s a future ambition for the company, for sure.” He noted that Ikea is expanding in terms of services. For instance, he said Ikea is currently offering parcel delivery to everywhere in the Philippines.
Banking&Finance
High tourist spend seen to offset tax-refund loss
By Jovee Marie N. dela Cruz @joveemarie
ASeNIOR lawmaker on Sunday
called on the Departament of Finance (DOF) and Department of Tourism (DOT), the Bureau of Internal Revenue (BIR) and other concerned agencies to expedite the creation of a value-added tax (VAT) refund system for non-resident tourists to drive visitor arrivals back to or even surpass pre-pandemic levels, significantly increasing tourism revenue.
Camarines Sur Rep. LRay F. Villafuerte noted that while offering tax-free shopping privileges under Republic Act (RA) 12079 may result in initial revenue losses, the longterm gains from increased tourist spending will offset these costs. He highlighted that adopting practices from tourist-friendly economies like Japan and Singapore could position the Philippines as a global shopping destination.
“This is why I am hoping that the DOF, DOT, BIR, and other concerned agencies can go full tilt on crafting the VAT refund system for the local purchases of non-resident tourists, as provided for in RA 12079,” Villafuerte said.
“The heads of these government offices should lose no time in crafting a simple and seamless VAT refund system at the onset of 2025 so the government can implement this tourist-friendly initiative right away,” the lawmaker added.
RA 12079, signed into law by President Ferdinand R. Marcos Jr., mandates the DOF, in consultation with other stakeholders such as the DOT, BIR, DTI, and DOTr, to craft implementing rules and regulations (IRR) within 90 days of the law’s effectivity. BIR Commissioner Romeo D. Lumagui Jr. announced that the IRR is expected to be finalized by the first quarter of 2025.
RA 12079 grants this tax-free privilege by amending the National Internal Revenue Code (NIRC) of 1997 to add Section 112-A on establishing this VAT refund system for non-resident foreign passport holders.
Under this law, the DOF shall partner with one or more “reputable, globally recognized, and experienced” VAT refund operator(s) to provide end-to-end solutions for the establishment and operation of this incentive for tourist shoppers.
President Marcos said he signed
RA 12079 to attract more non-resident tourists to the country by giving these visitors a tax-free privilege on their locally purchased goods.
Villafuerte said that apart from encouraging higher spending among non-resident tourists, the VAT refund will also “promote the Philippines’s unique craftsmanship of indigenous products in communities near local tourist destinations.”
Marcos has said the domestic tourism sector had an “instrumental role” in the Philippines’s postCovid economic recovery in 2023 in contributing an impressive 8.6 percent to the gross domestic product (GDP), with shopping posting the second largest expenditure of inbound tourists.
Villafuerte noted that according to the DOT, CamSur emerged as the country’s No. 1 tourism destination in 2010, besting Metro Manila and Cebu.
Meanwhile, the lawmaker explained that under RA 12079, nonresident tourists can claim a VAT refund on their purchases with single transactions amounting to at least P3,000 in duly accredited stores, so long as these goods are taken out of the Philippines within 60 days of purchase.
The DOF has projected the potential revenue loss from VAT refunds of non-resident tourists to reach P2.9 billion to P4.1 billion yearly, but Villafuerte said that such estimated foregone taxes are expected to be offset by bigger earnings from higher tourist spending.
Marcos himself saw a 30-percent increase in tourist spending and expected an economic impact from this activity on both largescale industries and micro, small, and medium enterprises (MSMes), Villafuerte said.
Data from the National economic and Development Authority (NeDA) reveal the VAT-refund system for foreign tourists would raise P3.3 billion to P5.7 billion in extra revenue over the 2024-2028 period and to create some 4,000 to 7,000 jobs annually.
DOT Secretary Christina GarciaFrasco expected tourist shopping to rise by almost 30 percent with the VAT refund system, as this tax privilege enhances, she said, the overall visitor experience while at the same time propping up the Philippines’ position as one of Asia’s competitive tourist destinations.
According to the DOT, tourismrelated shopping amounted to P137.4 billion in 2023.
BOC Manila port’s take lifts seized items’ value
By Reine Juvierre Alberto @reine_alberto
THe Bureau of Customs (BOC) reported the amount of its seized contrabands more than tripled to P81 billion in 2024, attributed to the P55 billion worth of items confiscated by Customs Intelligence and Investigation ServiceManila International Container Port (CIIS-MICP).
In a statement released last Sunday, Customs Intelligence and Investigation Service (CIIS) Director Verne Y. enciso said the BOC conducted 1,537 seizures this year with an estimated total value of P81 billion currently.
This more than tripled coming from the 729 seizures, which yielded about P24 billion, in 2022, according to enciso during a command conference to review its annual performance on December 11.
“Two years later, here we are, with results that speak for themselves,” enciso said.
More than half of the seized goods, amounting to P55.226 billion, was contributed by the CIIS-MICP. Intelligence Officer IV Alvin Y. enciso said the CIIS-MICP has conducted 64 seizures with a total aggregate
PHL financial system’s total resources grew 8.97% YoY
By Cai U. Ordinario @caiordinario
THE Philippine financial system’s total resources posted a year-on-year growth of 8.97 percent in October 2024, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
The data showed total resources of banks and non-bank financial institutions (NBFIs) reached P32.8 trillion as of October 2024, higher than the P30.1 trillion posted in the same period last year.
However, compared to September, the total resources of the financial system contracted 0.88 percent from the P33.09 trillion posted as of September 2024.
estimated value of P55.226 billion through Initiated Alert Orders and Implemented Letters of Authority and Mission Orders. As such, P2.074 billion worth of contraband, such as vehicles, drugs, general merchandise, cigarettes, vape products, commercial goods inside balikbayan boxes, frozen mackerel and other products, were confiscated through Initiated Alert Orders.
Meanwhile, P53.226-billion worth of agricultural products, used clothing, vape products, general merchandise, counterfeit items, electronics, fuels, cigarettes and ship vessels, among others, were seized through Implemented letters of Authority and Mission Orders.
In its midyear report, the BOC said its anti-smuggling operations resulted in 868 seizures with a total estimated value of P55.171 billion. Confiscated counterfeit goods topped the list of most seized commodities amounting to P29.738 billion.
Food items and general merchandise followed, worth P5.534 billion, while vehicles and accessories were valued at P2.935 billion. Illegal drugs worth P1.239 billion were also intercepted.
Total resources of banks in October 2024 reached P27.28 trillion, a 9.75 percent growth from the P24.85 trillion posted in October 2023. This was a 1.06 percent contraction from the P27.57 trillion posted in September 2024.
Of the resources of banks, the bulk is held by universal and commercial bank (UKBs) at P25.52 trillion, a 9.63 percent growth from the P23.28 tril-
lion posted in October 2023.
This was followed by thrift banks (TBs) with total resources amounting to P1.15 trillion; rural and cooperative banks (RCBs), P498.35 billion; and digital banks (DGBs), P113.78 billion.
The year-on-year growth in total resources for TBs grew 7.4 percent in October 2024 from the P1.07 trillion in October 2023; RCBs, 17.05 percent from the P425.76 billion; and DGBs, 34.84 percent from the P84.38 trillion last year.
BSP data showed that NBFI’s total resources remained at P5.52 trillion in the October 2024 period. This is the same level posted since June 2024. However, it represented a 5.28 percent growth compared to the P5.25 trillion posted in October 2023.
The data, BSP said, exclude the resources of the central bank. The data includes those from BSP-supervised investment houses, financing companies, investment companies, securities dealers/brokers, pawn-
shops, lending investors, and nonstock savings and loan associations (NSSLAs).
It also includes data from credit card companies, government nonbank financial institutions (i.e., Philippine Guarantee Corp. and Small Business Corp.), and authorized agent banks (AAB) forex corporations, wherein assets are reported gross of allowance for probable losses and net of depreciation. Data on NBFIs are based on “Consolidated Statement of Condition” (CSOC), except for NSSLAs, which are based on FRP. Non-bank financial institutions also include the Social Security System (SSS), the Government Service Insurance System (GSIS), and private insurance companies (i.e., life insurance companies, non-life insurance companies, and professional reinsurers), wherein assets are reported net of allowance for probable losses and depreciation.
Rate cuts that end year of global central-bank easing
AYe AR when inflation subsided enough for monetary policy easing to start in most advanced economies is about to conclude with a 24-hour flurry of decisions led by the Federal Reserve.
The US announcement will take center stage on Wednesday, followed by peers in Japan, the Nordics and the UK over the following day— amounting to half of the world’s 10 most-traded currency jurisdictions.
Those events will draw most attention among investors bracing for the last big week for monetary policy in 2024. By close of play on Friday, at least 22 central banks accounting for two-fifths of the global economy will have set borrowing costs.
The upshot is likely to underscore how momentum for easing now looks increasingly uneven as policymakers weigh up differing risks in the coming year.
While the Fed itself is poised to deliver a quarter-point rate cut, the dawn of 2025 and the prospect of inflationary import tariffs threatened by the incoming administration of Donald Trump may give officials pause about the pace of further moves.
“Trump has promised a whirlwind of actions that will affect inflation and economic activity, complicating the FOMC’s job. Because monetary policy works with a lag, policymakers aim to set policy at each meeting based on their best understanding of the economic circumstances that will prevail a year or two ahead. In setting the federal funds rate at the next few meetings, policymakers will assess the odds that Trump’s various proposals will be implemented, and balance their risks,” David Wilcox, director of US economic research, said.
The Bank of england, mindful both of the growth shock his trade policies could cause but also of lingering price pressures, is reducing borrowing costs only cautiously and is widely expected to keep them on hold on Thursday. The Bank of Japan meanwhile, having finally exited negative rates this year, will probably wait until 2025 before raising again. Decisions in the Nordics will highlight divergence even across a smaller region. Sweden’s Riksbank is almost certain to cut for the fifth time, and its Norwegian counterpart is likely to confirm that its first reduction of the cycle won’t come until next year. elsewhere, key data on the health of China’s economy, a likely pickup in UK inflation and business surveys from the euro zone may be among highlights.
US and Canada
WHILe the Fed’s preferred gauge of underlying inflation will be released at the end of the week, after
Wednesday’s rate decision, officials can take probably take some comfort in projections that price pressures are cooling.
The November personal consumption expenditures price index, excluding food and energy, will probably rise 0.2 percent—the smallest advance in three months—economists forecast Friday’s report to show. The report is also seen showing solid consumer spending and income growth, suggesting a resilient economy.
Retail sales figures on Tuesday will likely illustrate similar strength. Other reports this coming week include industrial production, housing starts and existing-home sales for November.
In Canada, Finance Minister Chrystia Freeland will release a longdelayed budget update amid widespread speculation she has broken her promise to keep the deficit at or below C$40.1 billion.
The document may contain new border-security spending to guard against Trump’s tariff threats, as well as affordability measures aimed at winning back voters ahead of an election next year.
In a year-end speech, Bank of Canada Governor Tiff Macklem will reflect on an extraordinary pace of rate cuts and look ahead to a possible trade war.
Headline inflation for November is expected to fall below the 2 percent target again after it briefly ticked back up to that threshold in October. Statistics Canada will also release population estimates for the third quarter.
Asia
THe week will begin with a slew of data from China that will be closely monitored for signs that the world’s second largest economy is being lifted by government stimulus efforts. Industrial production and retail sales data will be key to watch.
PMI numbers from Australia, India and Japan are also scheduled for release on Monday, to give another
feel for growth in the wider region. The BOJ’s decision comes Thursday, with economists and markets expecting a hold after mixed communication from officials nudged their views to a later move.
e l sewhere in central banking, Pakistan is expected to start off the week with a rate cut after inflation eased, and on Wednesday the Bank of Thailand is projected to keep its benchmark rates unchanged at 2.25 percent. Indonesia and the Philippines are both expected to cut borrowing costs by 25 basis points.
Meanwhile, South Korea’s central bank vowed to stabilize financial markets and highlighted the importance of “uninterrupted implementation” of key fiscal and economic measures, in its first statement since lawmakers voted to impeach President Yoon Suk Yeol.
New Zealand is set to report data showing their economy is back in recession after shrinking in the third quarter on Thursday.
Throughout the week, trade figures are due from Indonesia, Japan, Malaysia and New Zealand, reflecting the latest state of Asia’s trade appetite.
Europe, Middle East, Africa
THe BOe will almost certainly keep rates unchanged at its final decision of the year, sticking with its wary approach to easing. Data on both jobs and inflation before then will inform officials further to last week’s report that showed a second straight month of contraction in October.
The labor report is expected to show a pickup in annual pay growth that shouldn’t overly concern policymakers, while the inflation numbers may reveal an acceleration both in the headline and underlying gauges, adding to the case to stay cautious.
On Tuesday, Hungary will probably keep borrowing costs on hold after inflation accelerated and the forint remains near a two-year low.
Two days later, the Czech central bank is also expected to confirm an
unchanged rate, as policymakers consider calling a halt to easing.
Swedish officials are anticipated by most economists to lower its benchmark by a quarter point, a more gradual pace after last month’s half-point cut. Core inflation at a six-month high is unlikely to deter the Riksbank, which may take heart from recent data showing a return to growth in the third quarter. In neighboring Norway, policymakers are expected to keep its rate at 4.5 percent. Core inflation snapped a year-long deceleration streak last month, mainly driven by domestic goods, while a key survey by the central bank showed a somewhat stronger outlook for the energy-rich nation’s businesses. And on Friday, the Bank of Russia may hike its rate as much as 200 basis points to a record 23 percent, after data showed consumers price pressures persisting at more than twice the 4 percent target. In the euro area, survey indicators may focus investors looking at how fallout from political turmoil in France and Germany is impacting businesses.
The latest purchasing manager indexes for the region will be released on Monday, followed the next day by the Munich-based Ifo institute’s index of company expectations and the ZeW gauge of investor confidence, both looking at Germany. French business confidence will be published on Thursday.
Several policymakers are scheduled to speak in the wake of the eu ropean Central Bank’s quarterpoint rate cut last week, including President Christine Lagarde, Vice President Luis de Guindos, executive Board member Isabel Schnabel and Chief economist Philip Lane.
Governing Council member Martins Kazaks told Bloomberg in an interview published Sunday that the eCB should lower rates further but probably won’t need to take them to levels that would stimulate economic expansion.
Turning south, data from Israel on Sunday will likely show inflation accelerated to 3.6 percent in November from 3.5 percent a month earlier as the war in Gaza strains the economy and the government’s spending soars. That may see its central bank leave rates on hold until the second half of 2025.
Nigerian data on Monday may reveal inflation quickening to 34.6 percent in November from 33.9 percent a month earlier, driven by higher gasoline prices and floods earlier this year that destroyed crops. Nigeria’s central bank Governor Olayemi Cardoso said earlier this month that he expects a downward trend next year. Bloomberg News
The US announcement will take center stage on Wednesday. PhotograPher: ting Shen/BloomBerg
From martial law to impeachment: Breaking down the political firestorm in South Korea
By Kim Tong-Hyung
The Associated Press
South Korea’s parliament on Saturday voted to impeach embattled President Yoon Suk Yeol over his short-lived martial law decree this month, a shocking stunt that paralyzed the country’s politics, halted foreign policy and spooked financial markets.
His suspension from power comes almost eight years after the impeachment of Seoul’s last conservative leader, Park Geun-hye, formally removed from office by the Constitutional Court in March 2017.
Yoon, a former public prosecutor, was part of the investigation team that examined Park’s charges of bribery, abuse of power and other crimes that the court concluded warranted her removal from office.
Now, Yoon faces potentially even more serious charges in the same court, which must decide whether his ill-conceived power grab amounted to rebellion.
Here’s a look at the whirlwind events that have shaken one of Asia’s most robust democracies:
December 3
I N a s urprise announcement at 10:29
p.m., President Yoon tells a national television audience he’s declaring martial law, saying the oppositioncontrolled parliament has become a “den of criminals” paralyzing government affairs.
Yoon vows to “eradicate” his political rivals, describing them as North Korea-sympathizing, “anti-state forces” responsible for “wreaking havoc and are the main culprits of our nation’s downfall.” He doesn’t back his claims with direct evidence.
In reaction, the main opposition Democratic Party calls for an emergency meeting.
As lawmakers begin rushing to the National Assembly, the military’s martial law command issues a proclamation declaring sweeping government powers, including the suspension of political parties’ activities and other political gatherings that could cause “social confusion” and control over media and publications. It says anyone who violates the decree could be arrested without a warrant.
Hundreds of heavily armed troops encircle the Assembly, apparently to prevent lawmakers from gathering to vote on the martial law declaration.
Democratic Party leader Lee Jaemyung live-streams his journey from a car, pleading for people to converge on the parliament to help lawmakers get inside. The shaky footage shows him climbing over a fence to reach the grounds.
December 4
S Hor T LY a fter midnight, National Assembly Speaker Woo Won Shik says through his YouTube channel that the Assembly will respond to Yoon’s martial law declaration with “constitutional procedure.”
Also climbing over a fence, Woo reaches the Assembly’s main chamber around 12:35 a.m. Some South Korean troops break windows to enter the parliament building but fail to reach the main chamber. Woo opens a meeting at 12:47 a.m. to hold a vote on whether to lift martial law.
At around 1 a.m., 190 lawmakers, including 18 from Yoon’s own conservative People Power Party, voted unanimously to lift martial law. Troops and police begin to retreat from
the Assembly shortly later. At 4:30 a.m., martial law is formally lifted following a Cabinet meeting. Hours later, opposition parties submit a motion to impeach Yoon. They say his martial law declaration is a blatant violation of the constitution, which limits the presidential exercise of such emergency powers during wartime or comparable national emergencies, and doesn’t allow for the suspension of parliamentary activities under any situation.
“It was a grave act of rebellion and provides perfect grounds for his impeachment,” the Democratic Party said.
December 5
Yoo N r eplaces his Defense Minister Kim Yong Hyun, a close associate believed to be the person who recommended the president declare martial
law. Han Dong-hun, leader of Yoon’s party, says he would work to defeat the opposition-led impeachment motion—even though he criticized Yoon’s declaration as “unconstitutional.” Han says there’s a need to “prevent damage to citizens and supporters caused by unprepared chaos.”
December 6
I N a b ombshell reversal, Han expresses support for suspending the constitutional powers of Yoon, saying that the president poses a “significant risk of extreme actions, like reattempting to impose martial law, which could potentially put the r e public of Korea and its citizens in great danger.”
Han says he received intelligence that Yoon had ordered the country’s counterintelligence commander to arrest and detain key politicians based on accusations of “anti-state activi -
ties” during the brief period martial law was in force.
A high-ranking spy official tells lawmakers that the politicians targeted for detainment included Han, National Assembly speaker Woo and opposition leader Lee.
In an interview with The Associated Press, Lee questions Yoon’s mental fitness to remain president. He vows to make all-out efforts to get Yoon impeached as soon as possible.
December 7
Yoo N a pologizes and says he won’t shirk legal or political responsibility for declaring martial law. Yoon says he would leave it to his party to chart a course through the country’s political turmoil, “including matters related to my term in office.”
Yoon survives an impeachment vote that most ruling party lawmakers boycotted, denying the motion the required two-thirds majority.
The Democratic Party vows to prepare a new impeachment motion.
December 8
Pro S e C u T or S d etain the former defense minister over his alleged role in planning and executing Yoon’s martial law enforcement.
December 9
Sou T H K orea’s Justice Ministry bans Yoon from traveling overseas as police, prosecutors and South Korea’s anti-corruption agency expand competing investigations into allegations of rebellion and other charges in connection with his martial law decree.
December 10 K WAK Jo NG -K e u N commander of the Army Special Warfare Command whose troops were sent to parliament after Yoon declared martial law, tells parliament that he received direct instructions from the former defense minister, Kim, to obstruct lawmakers from entering the National Assembly’s main chamber. He says Kim’s instructions were to prevent the 300-member parliament from gathering the 150 votes necessary to overturn Yoon’s martial law order.
Kwak says Yoon later called him directly and asked for the troops to “quickly destroy the door and drag out the lawmakers who are inside.” Kwak says he did not carry out Yoon’s orders.
December 11
K I M the former defense minister, is formally arrested over his alleged collusion with Yoon and others in imposing martial law. The Justice Ministry says Kim was stopped from attempting suicide hours before a Seoul court issued his arrest warrant.
South Korean police send officers to search Yoon’s office to look for evidence related to the martial law introduction but they are blocked by Yoon’s security team from entering the compound.
Police detain the national police chief and the top officer for Seoul over their roles in enforcing Yoon’s martial law orders.
December 12
Yoo N d efends his martial law decree as an act of governance and denies rebellion charges, vowing to “fight to the end” in the face of attempts to impeach him. o p position parties submit
December
A lot to love at SM Beauty this Christmas season
IT’S the most wonderful time of the year, as the Christmas classic extols, and SM Beauty is the ultimate destination for all things gifting. With a dazzling array of beauty brands, unbeatable holiday deals, and exciting experiential activities, there’s something for everyone on your list—and plenty to treat yourself too.
Here’s a sneak peek at the exclusive experiences you won’t want to miss at select SM Beauty Department Stores this holiday season: n EVER BILENA MAKEUP BAR. At SM North Edsa and SM Baguio Department Stores from December 6 to 28, 2024. Get ready to build your dream goodie bag. At the Ever Bilena Makeup Bar, customers can grab a medium bag for just P499 or go all out with a large bag for P599—and fill it to the brim with fabulous Ever Bilena products. But the fun doesn’t stop there. Once you’ve checked out, swing by the booth to bedazzle and dress up your bag with charming stickers, making it as unique as you are. n SPOTLIGHT ADVENT CALENDAR
EXPERIENCE. At SM Mall of Asia and SM Megamall Department Stores from December 6 to 28, 2024. Step into the magic of the holidays with Spotlight’s life-sized Advent Calendar Experience. Test your luck with their thrilling pachinko ball game to unveil a mystery gift from the calendar for just P999. It’s the perfect way to add a touch of surprise and luxury to your Christmas season. Head to the nearest SM Beauty Department Store to shop, play, and make your holiday sparkle. These activities are available for a limited time only, so make your Christmas shopping extra magical with SM Beauty today.
Holiday delights 2024
SHOPPING and staycations—two of the reasons for this season. We’ve endured a very challenging year, so it’s time to truly experience tidings of comfort and joy.
Here are some of the delightful options these holidays:
n MITSUKOSHI BGC: “Okurimono,” the Japanese concept meaning “gift,” is at the heart of the holiday festivities at Mitsukoshi BGC. The upscale mall aims to offer an immersive experience that connects Filipinos to the warmth and wonders of Japanese culture while bringing a fresh and unique Christmas celebration for everyone.
Mitsuko, the adorable Kokeshi doll, welcomes guests to a world of Japanese charm and hospitality. A character who loves shopping, karaoke and delicious food, Mitsuko is the embodiment of the playful nature of Christmas in the Japanese culture.
With three central gifting themes—The Gift of Celebration, The Gift of Sharing, and The Gift of Entertainment—the mall offers something special for everyone’s enjoyment.
Besides the Kokeshi Doll, kids will also get to snap selfies with the Lion Statue, a symbol of prosperity and good fortune that has graced the entrance of the namesake Nihombashi store since 1914. For the first time ever, this beloved statue has crossed the sea to the Philippines, giving visitors a chance to experience the spirit of Omotenashi—the Japanese art of hospitality.
The store also offers a curated selection of festive dining options with extended dining hours for customers to enjoy: Monday to Thursday 11 am to 10 pm; Friday 11 am to 11 pm; and Saturday, Sunday and holidays 10 am to 11 pm.
There’s also an ongoing Dine-In Raffle Promotion that offers patrons the chance to win exciting prizes such as a MacBook Pro, restaurant gift certificates, Christmas cakes, and Metrobank merchandise. Just spend a minimum of P3,000 for Metrobank Card holders or P4,000 for any other payment method at participating restaurants such as Ralph Wine, CBTL, Prologue and more to qualify for a chance to win.
n RUSTAN’S: The favorite mall of the country’s elite families welcomes everyone to indulge in the magic of Christmas—from its eye-catching window displays to exclusive perks. The store promises that every visit is “a journey that evokes the spirit of wonder, joy, hope, kindness, charity, love, warmth and gratitude.”
Rustan’s dazzling facade displays date back to the 1980s. This time, the displays are about Santa’s journey—from his preparations in the workshop to the joyous act of delivering gifts to children everywhere. The interior decorations are just as lavish, and they are consistent in all Rustan’s branches including Shangri-La, Alabang, Gateway and Cebu.
n SEDA NUVALI: When you’re tired of the metro and just want to get away—but not too far away—
Seda Nuvali is a sensible choice of destination. Located in Santa Rosa, Laguna, Ayala Land’s expansive 2,400-hectare estate, with a hotel, park and shopping areas, is also the site of the delightful Fountain of Lights Festival, the “larger-than-life spectacular showcase that fills the hearts of visitors with a festive spirit, awesome adventure, and family-friendly fun.”
The festival started in November with the “Dragons of Prosperity,” which tells a magical tale of life and rebirth, where mystical dragons representing the elements of earth, water, wind and fire come to life in a symphony of lights and movement; and “Journey to Toy Island,” a whimsical adventure aboard a paper boat that embarks on a journey to a distant island of magical toys. Seda Nuvali also enjoins guests to participate in its Toy Donation Drive. Together with Ayala Malls Solenad and The Driving Range, the estate is bringing the Gift of Kindness to life—a special toy drive that aims to give smiles to children in Sitio Iraq Barangay Macabling, Sta Rosa, Laguna. Nuvali’s Fountain of Lights Festival is from 6 to 10 pm and runs until January 5, 2025.
n CHINABANK VELVET VISA SIGNATURE CARD: Holiday shopping gets easier especially for the empowered career woman, with Chinabank’s first Visa credit card. Touted as the ultimate musthave accessory, the Velvet Visa Signature credit card is crafted from recycled plastic, which “espouses sustainability, perfectly aligning with today’s ecoconscious mindset enabling a more rewarding pursuit of wellness,
These gummies could be the delicious shortcut to beauty and wellness
HAIRCAREBEAR, the Australian gummy supplement brand, is finally in the Philippines and, as someone who has been taking gummy supplements for a while, I dare say this is one of the best-tasting ones in the market. I also like its texture, which is that of a real gummy instead of just being gummy-looking candies. There are nine variants—five focusing on beauty (Hair Gummies, Hair Skin Nails, Glow White, Hyaluronic Acid, and Collagen) and four on health (Apple Cider Vinegar, Tummy, Sleep, and Ashwagandha)—each one targeting a specific concern. As a brand, Haircarebear has been around for two and ahalf years. It started in Australia and later expanded to Malaysia. In Australia, the brand’s market is the 25 to 45 age range.
Steve Brandt, chief marketing officer of Australian
Health Vitality, talked about Haircarebear’s most popular variant, Hair Gummies. “A lot of people take it because they want more volume. It helps the hair grow faster and longer. Within a month, you’ll notice hair growth and feel the difference.”
Brandt’s 18-year-old daughter experienced the Haircarebear magic. “My 18-year-old daughter had small hairs at the front of her head, and she shaved them off. Her hairline moved back, so she started the gummies. Within a month, her hair grew back much faster,” he said.
Aside from Brandt, also present at the Haircarebear launch at Watsons Mall of Asia were Angelo Carpena, business unit director of Wellco Bioscience; Bless Marcos-Espin, GOBE and business development controller; William Lui, COO of Wellco Bioscience; Jenny Gozo, CEO of Wellco Bioscience; Sonny Cuenco, health trading director of Watsons; and Luisa Rust, senior trade and investment commissioner at the Australian Embassy in Manila. Each Haircarebear variant contains a unique and proprietary blend of essential nutrients designed to boost your beauty and wellness from the inside out. The gummies are made with premium, carefully sourced ingredients and formulated to support hair health, improve skin elasticity, promote restful sleep, and even help with digestion. They’re non-GMO, gluten-free, and soy-free.
Haircarebear offers a variety of gummies, each formulated to address specific beauty and wellness needs.
Here are their bestsellers:
1. Haircarebear Hair Gummies. These mixed-berries flavored gummies are the face of Haircarebear. The key ingredients are biotin, vitamin C zinc, and a blend of B vitamins.
2. Haircarebear Collagen Gummies. Haircarebear Collagen Gummy is contains marine collagen and is strawberry-flavored.
3. Haicarebear Sleep Gummies. These passionfruit-flavored gummies have Valerian root, which is commonly used in Western medicine to promote better sleep, enhance mood, and relax the mind. This is best taken half an hour before going to bed.
4. Haircarebear Apple Cider Vinegar Gummies. These have the same benefits as liquid apple cider vinegar (minus the strong taste and smell because they are apple-flavored) and Haircarebear Apple Cider Vinegar Gummies help support digestion, promote detoxification, and even aid in weight loss. Brandt said a person can take 2 Haircarebear Gummies per variant daily.
“For these, I would say those who can take them are 15 years old and older. As we grow older, we have less nutrients in our body. Pregnant women should check with their doctors before taking these,” he said.
Haircarebear is exclusively available at Watsons and SM Beauty. Watsons has over 1,000 stores nationwide and convenient online shopping with delivery and pickup available. Haircarebear is distributed by Wellco Bioscience, a key player in the
Metro Manila Film Festival at 50
The Metro Manila Film Festival (MMFF), an annual film festival organized by the Metro Manila Development Authority (MMDA) and held nationwide from Christmas Day to the first weekend of January, is not merely a celebration of Filipino cinema; it represents a significant milestone in the cultural landscape of the Philippines. As MMFF commemorates its 50th anniversary, the festival shows its steadfast commitment to nurturing local talent and preserving the rich heritage of Filipino storytelling.
Capably steered by MMDA
Chairman Atty. Romando Artes, MMFF’s impact starts well before the Christmas season, reaching an audience eager for the filmmaking experience. Its sustainability relies heavily on the involvement of its youngest stakeholders, the junior or student filmmakers.
Short film caravan, competition
As chairman of the e ducation Committee of MMFF for years now, I am particularly advocating for early involvement of the youth who are the future of MMFF. True enough, the youth is a vital component of our mission. With renewed partnership with the Film Development Council of the Philippines (FDCP) currently helmed by renowned film director and academic Jose Javier Reyes, the 2024 school caravan, dubbed MMFF x FDCP st udent s hort Film Caravan held a two-day seminar workshop hosted by Universidad de Manila, led by its president, Dr. Ma. Felma CarlosTria. s e nior h i gh s c hool students from 28 schools, both public and private, in Metro Manila learned from film director Mark Meily, cinematographer Tey
Clamor, movie actor and singer Jeffrey h i dalgo, who spoke to them on directing, acting, and cinematography.
s i de by side with the caravan is MMFF x FDCP s t udent s h ort Film Competition, launched to serve as a dynamic opportunity for students from various educational institutions to showcase their creativity. A total of 10 outstanding student short films, judged by professional filmmakers, will be played alongside the full-length MMFF entries. Making it even more exciting, each finalist will receive a cash incentive of P20,000.
Murals of memory
In collaboration with iAcademy, MMFF has also introduced MMFF-Themed Mural Designs along e D s A st udents from iAcademy painted vibrant murals featuring iconic film posters from the festival’s history. This artistic initiative not only beautifies the urban landscape but also serves as a nostalgic reminder of the films. It brings you back to the time when gigantic murals or billboards adorned the major streets when a prominent film was being shown. The colorful murals memorialize the artistry of Filipino cinema, inspiring e D s A motorists to reflect on the stories that have defined their experience. These murals are more than just visual displays; they symbolize the synergy between education and the arts, emphasizing the importance of creativity in shaping a culturally rich society.
50@50 To honor its 50-year legacy, MMFF together with the Cinema e x hibitors Association of the Philippines (C e A P) organized special screenings of iconic films from s e ptember 25 to o c tober
15, 2024 in participating cinemas. C e A P’s magnanimous gesture to allow moviegoers— young and old—to enjoy curated selection of classic MMFF movies at an accessible price of P50 shows their commitment to revitalize the festival in the coming decades.
Jose Rizal, the inaugural film of s i ne si gla s a si ngkwenta was shown in a packed theater in s M Manila in the City of Manila, the festival’s host this year. For the better understanding of students, a talk-back session was held with the movie’s lead actor Cesar Montano and scriptwriter Ricky Lee. It is interesting to know that s h ake, Rattle and Roll found a unique opportunity to be appreciated by both longtime fans and new viewers. A total of 50 MMFF movies covering a variety of genres—drama, comedy, action, horror, romance, adventure, historical, musical, and fantasy that catered to different audience preferences were shown.
Entries
FoR t wo years now, MMFF has accepted 10 remarkable entries, initially five full-length films and then five exceptional scripts. The increase in film selection reflects the festival’s dedication to fostering continued imagination, originality and innovation within the Filipino film industry.
“By supporting both completed projects and promising screenplays, MMFF plays a crucial role in nurturing the next generation of filmmakers,” said Atty. Rochelle o n a, e x ecutive Director of MMFF. “This commitment demonstrates that the
festival is not only a platform for established artists but also a springboard for emerging voices in cinema.” The 10 full-length films are a mixture of drama, comedy, romantic-fantasy, horror, action and musical:
GREEN BONES is produced by GMA Pictures, directed by Zig Dulay, written by Ricky Lee and Angeli Atienza, and starring s of ia Pablo and Dennis Trillo.
STRANGE FREQUENCIES:
HAUNTED HOSPITAL is produced by Reality MM st udios, Inc., directed by Kerwin Go, written by Kerwin Go, Dustin Celestino, and Leovic Arceta, and starring Jane De Leon, Alexa Miro, MJ Lastimosa, and e n rique Gil.
AND THE BREADWINNER IS is produced by AB s - CB n Film Productions, Inc. and The Idea First Company, directed by Jun Robles Lana, written by Daisy Cayanan, Jumbo Albano, and Jun Robles Lana, and starring Vice Ganda, Gina Pareño, e ugene Domingo, Maris Racal, Jhong h i lario, and Kokoy De s a ntos.
THE KINGDOM is produced by APT e ntertainment, Inc., MZet TV Productions, Inc., and MQuest Ventures, Inc., directed by Michael Tuvera, DGPI, written by Michelle ng u- na rio, and starring Vic s otto and Piolo Pascual.
HIMALA: ISANG MUSIKAL is produced by Jose Lorenzo Diokno and Madonna Tarrayo, directed by Jose Lorenzo Diokno, written by Ricky Lee and Jose Lorenzo Diokno, and starring Aicelle s a ntos and David e z ra.
HOLD ME CLOSE is a romanticfantasy, starring Julia Barretto and Carlo Aquino. It is produced by Viva Communications, Inc. and directed by Jason Paul Laxamana.
ESPANTAHO is a horror film, produced by Quantum Films, Cineko Productions and Purple Bunny Productions and directed by Chito Ronio. The film has Judy Ann s a ntos and Lorna Tolentino as lead actors.
TOPAKK is a hard action, produced by nathan studios, strawdogs st udio Productifon and FUs ee , d irected by Richard s o mes, with Arjo Atayde and Julia Montes as lead stars.
UNINVITED is a thriller, starring Vilma s a ntos and Aga Muhlach, produced by Mentorque Productions, and directed by Dan Villegas.
MY FUTURE YOU is a romancecomedy, starring Francine Diaz and s e th Fedelin, produced by Regal e ntertainment, Inc. and directed by Crisanto B. Aquino.
Without a doubt, these films will be worth watching. Check out the diverse offerings and bring your family along for a truly enriching Filipino moviegoing experience that recognizes local talent, both professional and student storytellers.
PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world. Rowena Capulong Reyes, PhD is the vice president for Corporate Affairs of Far Eastern University (FEU). She is an executive committee member of the Metro Manila Film Festival 2023 and heads its education committee. She was formerly the Dean of FEU Institute of Arts and Sciences and Colegio de San Juan de Letran. She is the immediate past president of the Philippine Association of Communication Educators (PACE), serving two terms.
We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.
Lomibao
BusinessMirror
Littler makes big impact for darts
4,000 before last year’s worlds.
LUKE LITTLER was virtually unknown a year ago. Now he is making millions, transcending his sport and is searched for more often on Google than King Charles and the British Prime Minister.
Th at Littler is a 17-year-old darts player who still lives at home with his parents in northwest England makes his rise to fame and increasing fortune all the more remarkable. It was around this time 12 months ago, with Christmas approaching, when Littler grabbed the attention of Britain and beyond by making an unlikely run to the final of the world darts championship in his first appearance. He was 16—though could easily have passed for double the age—and seemingly without a care in the world, celebrating his victories with kebabs and filling his down-time by playing video games.
L ittler lost the title match but won a legion of fans and brought darts—to many, a beer-fueled pub game—into the mainstream, like in its heyday in the 1980s. It also earned the down-toearth teenager, nicknamed “Luke The Nuke,” 200,000 pounds ($255,000) and opened the door to a whole new world of opportunities. A place on darts’ top circuit. Lucrative sponsorship deals. A spot on the sofas of talk shows. Messages from superstars like David Beckham, and an audience with Alex Ferguson for a Manchester United match at Old Trafford.
O n Tuesday, Google announced that Littler was Britain’s mostsearched athlete in 2024 and the third most-searched person, behind Kate Middleton and President-elect Donald Trump and just ahead of recently elected UK Prime Minister Keir Starmer and the king. Ne xt week, Littler will return to London’s Alexandra Palace, the boisterous venue for the world championship, as a winner of 10 tournaments around the world including in Bahrain and Amsterdam; as the world No. 4; with his prize money for 2024 up to around £1 million ($1.28 million); and with 1.3 million
I can’t lie, I was nervous on my world championship debut,” said Littler, who threw his first dart—onto a magnetic board—at 18 months old. “But this year I’ve won a lot of titles. I’ve hit nine-darters, and I come in now with a lot more confidence, and playing better than last year.
It’s still my first year, what I’ve done is incredible. But also it’s work, and there’s money to be made and titles to be won.”
Earnings potential
DARTS promoter Barry Hearn calls it the best Christmas present he’s ever had.
I’m so difficult to buy for because I’m old and I’ve got most things I want,” said Hearn, the top official of the Professional Darts Corporation. “Then someone gave me Luke Littler.”
L ittler is one of Britain’s most recognizable people. He’s the face of a new cereal, has a clothing sponsorship deal, and his image and trademark purple-and-yellow colors adorn accessories sold by Target Darts in toy shops across the country.
“He has opened doors to all the places darts has never been before,” said Garry Plummer, chairman of Target Darts, which has sponsored Littler since the age of 12 and makes his darts. AP
E xperts say Littler’s earnings
LUKE LITTLER has won 139 of his 181 matches in 2024, highlighted by four 9-dart finishes. AP
Olivarez, Arcilla lead chase as Dagitab Open unfolds
TRounding out the featured matches are No. 6 Noel Salupado against Kennex Abadia, No. 7 Jude Ceniza challenging John David Velez, and eighth seed John Jeric Accion facing Nicholas Ocat.
To accommodate a strong turnout of entries, organizers staged a one-day qualifier, where Nicholas Ocat, Cyril Paster, John Kenneth Jumamoy and Carl Miasco secured
I n a draw packed with talent, third seed Vicente Anasta takes on Chad Cuizon, No. 4 Fritz Verdad meets Carl Miasco, and fifth-seeded John Benedict Aguilar squares off with John Kenneth Jumamoy.
the final slots in the 32-player main draw of the tournament presented by Dunlop.
O livarez, who fell short against absentee Josshua Kinaadman in last year’s edition, eyes redemption. However, with multi-titled Arcilla back in the fray and a competitive field of rising stars, the tournament promises high-intensity matchups throughout the week-long event.
Football Begins at Home
WE’VE all heard of the idiom “charity begins at home.” And there are others—education, class, breeding, and a few others. Now, Tom Byer would like to ask you to open your mind and accept a new postulate…football begins at home.
Here’s more…this is a new way of thinking and playing football…coming from an American. Really.
Tom Byer is the first American to play top flight football in Japan, a country he has lived in for over four decades. After he hung up his boots, Byer went into technical coaching and has worked with over half a million Japanese kids. He had a long-running technical football television show in Japan (over 3,5000 consecutive episodes that is a Guinness World Record) to go with his best-selling instructional DVDs.
In Japan, Byer spread the gospel of his revolutionary approach to grassroots football via the conventional and unconventional route. His use of created content circulated using various delivery channels—anime and manga, schools and camps, online, events, television, newspapers, magazines, dvds etc. Now that got everyone’s attention.
In fact, what Tom is teaching is so simple that it is even revolutionary…that football starts at home at an age when they begin to walk.
“ This thinking is a big disruption in football development.
Many believe that it begins at an older age with the elite level. I believe it starts at entry level,” he emphasized.
It is a difficult concept to grasp, I must say, but isn’t it that one learns to play a musical instrument first at home?
In an environment conducive to learning and to make mistakes and get better?
Doesn’t writing begin at home with blogs (back in the day—diaries) or social media posts?
A nd a cursory glance at grassroots programs or even playing in the park, it’s all about kicking and shooting.
For Byer, it began also with a small football—one used for signing rather than for playing. With the ball, his kids learned to master the ball. In doing so, vastly improve their ball control. That also vastly improved their focus, discipline, and confidence.
L ike chess, it improves one’s memory, confidence, creativity, intelligence quotient, and analytical skills among others.
It’s like dribbling the basketball—when you can dribble extremely well, you can go anywhere the court you want.
ABack in top form, Pablo helps Angels soar to top spot in PVL
the bench, Myla Pablo returned to Petro Gazz’s starting
By Josef T. Ramos
“MAGNIFICO”
ARK
MMAGSAYO handily beat Bryan Mercado, scoring a technical knockout win in the second round of their non-title super featherweight bout on Saturday at the Thunder Studios in Long Beach, California.
Magsayo, a former World Boxing Council (WBC) featherweight champion, went straight to work and seriously hurt Mercado with body shots. The Ecuadorian could not retaliate in the next round and just knelt when hit by another shot to the body.
R eferee Gerard White stopped the bout after 28 seconds.
“He [Mercado] just could not stand my power punches, but we just did our game plan right from the start. We just did not expect this to end so quick,” the 29-yearold warrior from Tagbilaran, Bohol told BusinessMirror through an internet call.
Mercado fell to 11-7 win-loss record with six knockouts.
It was the second win this year for Magsayo in the super featherweight class after beating American Eduardo Ramirez via unanimous decision in June in Las Vegas for the World Boxing Association (WBA) super bantamweight international belt.
The Filipino fighter improved to 27-2 win-loss record with 18 knockouts.
This fight is a non-title bout to just make me stay active, and we are now looking for bigger fight next in 2025,” Magsayo added. “Next year is absolutely the year for Magnifico. I really want to fight for a world title.”
International matchmaker Sean Gibbons, president of Manny Pacquiao’s MP Promotions, looks to set up a fight between the WBC No. 3 rank Magsayo and American WBC reigning super featherweight champion O’ Shaquie Foster.
Clemente and coach Roger Gorayeb leading the program.
P VL games between Capital1 and Galleries Towers—as well as between Cignal and NXLED—were also held much to the delight of some 5,000 Cebuanos at the Minglanilla Sports Complex.
Football at home is no different. Aside from the aforementioned reasons, it also improves bonding time between the parent and child.
“ The focus is on the parents,” emphasized Byer. “Most Asian parents look at sports as a disruption of their life. But that has changed in the last decades because sports mean a possibility for a college scholarship and even a career.”
The home is a safe and protected environment that creates an emotionally charged atmosphere for deep learning. A child always craves attention if not approval. Football at home provides that.”
A parent should always be present when the kids use the ball when at home so they do not traipse anywhere.
W ho would have thought that simple ball control and mastery would be massive?
The cerebellum was thought to be mainly responsible for coordination and assistance of motor functions such as balance and rhythm. But it was recently found out that it is involved in more things such as thinking, remembering, decision making, reading, controlling emotions, and living among others. So controlling the ball with the foot farthest from the brain is an efficient cerebellar training method.
He first tried out this theory with his young children and the results were astonishing to say the least.
Watching Tom’s kids manipulate that ball? It was magic.
Then they went from left foot to right foot, right foot to left then right up to more complex drills.
“As a former athlete, I know how it feels to compete, the pride to play for your country and I want to make that accessible for any dreamers, for any Filipino, young or experienced, to be able to have the needs and essentials to grow in their field of sports,” said Romero, who was a recipient of the Honorary Modern Filipina Heroism of the Year during the 7th Nation Builders and MOSLIV Awards.
Bringing the PVL stars closer to the younger generation, Romero, 1Pacman Partylist’s first nominee, hopes to provide inspiration to the aspiring volleyball players.
This event is borne out of my own experience because, growing up, I looked up to my idols,” Romero said. “I couldn’t have reached where I am now without my idols, so as the first nominee of the 1Pacman Party List, I want the game to be accessible to the nation.”
He was so impressed by the correlation between sports and neuro-science that he wrote the book’s foreword. He wrote, “The acquisition of skills—math skills, piano skills, soccer skills—and the encouragement to acquire skills is absolutely fundamental to the development of the brain—and the development of children.”
What Tom Byer has done is to focus on football skills. Through his own experience as a coach and through the experience of his own children, he is transforming how football skills are acquired and can be taught.”
It is not only a revolution, but it is a revelation.”
R evelation indeed and it has made its way to the Philippines.
Earlier this year, former Philippine Men’s
A nd thinking of that, I am reminded of Pistol Pete Maravich who used every inch of space in his home to improve his ball handling skills.
W hen Byer was writing the book on Football Begins at Home, Harvard Medical School Associate Professor Dr. John Ratey asked to read the manuscript, fascinated by Byer’s principles and teachings.
MARK MAGSAYO shows he is ready for a shot at the title.
Philippines Largest Hotel Operator thrives with the Circle of Happiness Perspective
By Anne Ruth Dela Cruz
TO say that the year 2024 was a bountiful one for Megaworld Hotels and Resorts (MHR) is an understatement. It has been one award after another for the hotel group.
At the 27th Mabuhay Awards in November 2024, the Association of Human Resources Managers of the Philippines honored Trixie Tan, Corporate Assistant Director of People Management and Development, with the HR Leader of the Year Award. Last October, MHR took home the institutional award for Most Outstanding Marketing Campaign of the year for its “The Sampaguita” campaign at the 10th HSMA Virtus Awards. Within the same month, MHR received its extended Great Place to Work certification exhibiting associates’ growing satisfaction for working with the company since 2023. In the PropertyGuru Philippines Property Awards 2024, MHR received two major accolades. The group was awarded Best Operational Hospitality Portfolio, an affirmation of its successful management of a diverse range of hotels that cater to various market segments. Grand Westside Hotel was recognized with the Best Hotel Development Award. This distinction highlights the hotel’s innovative design, leisure amenities, and its significant role in the hospitality industry. Last September, MHR was awarded the prestigious title of the Philippines’ Leading Hotel Group by the World Travel Awards. Additionally, Savoy Hotel Manila, a prominent MHR brand, won its 4th consecutive recognition as the Philippines’ Leading Airport Hotel.
A nd the list of the awards goes on and on. What is the secret to MHR’s success? MHR’s Managing Director Cleofe Albiso attributes all of these to a culture they
call the Circle of Happiness. “Day in and out, we remind each other with what matters allowing us to live a life grounded on love as we take care of ourselves, family, work, community, and our deep faith rooted in God. The culture allows us to bring out the best in each other, our best selves allow us to bring the best possible business potential for all our shareholders,” she said.
In an interview Business Mirror conducted with Albiso, she related that at a younger age all she ever wanted to do was to be able to put food on the table and to provide a good life for her children and hoping the same for everyone in the company. “We all have the same goal, and that is to be an able provider to our loved ones but more than ever we realized the need to be involved in the communities we are part of at a level where we all win as one.”
A lbiso, also recognized as a Golden Mabuhay Awardee in 2022, shared that a lot of the principles that she has learned evolved through the years. When the opportunity came for her to assume a leadership position, Albiso was able to look back at the learnings she gathered through the years and share these values with her team.
“I’ve always had a dream to be the leader I never had. Someone who ground themselves on the golden rule and the authenticity and joy to be of service to others. We’ve captured this in our Circle of Happiness that explains that what we do should be avenues where we could love and grow ourselves more while allowing us to support our families, improve work,
forward the Filipino homegrown brand. Personally, this is what I found to be our biggest achievement, and we continue to work hard. We are bold to claim that Filipinos can be proud of MHR, a homegrown hotel known for its unique brand of hospitality.”
Sampaguita Project
porting Megaworld’s sustainability initiative, including the revival of the sampaguita flower industry.
W hile the decision to adopt the sampaguita could be deemed as simple, Albiso pointed out that MHR was able to create a culture where its associates are given the opportunity to be creative, allowing them to elevate and put meaning to what others see as ordinary.
“ We are just as proud no matter how simple. We have to be honest, our products are a steady work in progress but we’re happy to have created an environment where our associates are proud of serving in a hotel like ours. It is really the people who make the difference through the experience,” Albiso said.
Standardization
With MHR opening more hotels soon with Chancellor Hotel Boracay and Belmont Hotel Iloilo in the pipeline for 2025, Albiso said there is still much to be done. The group is continuously working on standardization because they want to solidify their culture and to streamline processes.
Grand Westside Hotel, the largest hotel in the Philippines with 1530 rooms, wins the Best Hotel Development Award at the 12th Annual PropertyGuru Philippines Property Awards.
Megaworld Hotels & Resorts earned the Great Place To Work certification in 2024.
Megaworld Hotels & Resorts recognized as Philippines’ Leading Hotel Group by the World Travel Awards.
