BusinessMirror December 21, 2022

By Cai U. Ordinario @caiordinario

THE country posted its highest Balance of Payments (BOP) deficit on record in the January to November period in 2022, according to data released by the Bangko Sentral ng Pilipinas (BSP), which traced the November 2022 outflows to debt payments and net foreign exchange operations.

The BOP deficit in November brought the current year-todate BOP level to a $7.9-billion deficit, a reversal from the $353-million surplus recorded in the same period a year ago.

Prior to the January to November 2022 BOP deficit, the highest on record was in the January to October 2018 period when the deficit reached $5.594 billion.

“Based on preliminary data, this cumulative BOP deficit was due to the widening trade in goods deficit as goods imports continued to surpass goods exports on the back of the increase in international commodity prices and resumption in domestic economic activities,” BSP said in a statement on Tuesday.

See “Debt,” A2

DIFFICULTIES in importing food as a result of nontariff barriers (NTBs) have contributed to rising inflation in the country, according to the National Economic and Development Authority (Neda).

Socioeconomic Planning Secretary Arsenio M. Balisacan recently told reporters that if “inflexibilities” in importation persist, there would be more pressure on the Bangko Sentral ng Pilipinas (BSP) to raise interest rates.

Balisacan said these supply side issues should be addressed to contribute to efforts to cool inflation. Some of these examples are sanitary and phytosanitary measures that are turned into NTBs.

“If you address those supply side issues, there will be less pressure for BSP to use interest rate as a cure for inflation. In fact, a big part of that inflation is coming from the supply side,” Balisacan explained.

Balisacan cited other supply issues that affect inflation: typhoons

and diseases such as African Swine Fever and Bird Flu. These will affect the level of supply of these products, he said.

In order to cushion the impact on supply, Balisacan said the country needs to import products that would be affected. However, due to what he termed as “inflexibilities” in terms of importation which includes the lobby of associations from the private sector, it becomes difficult to import and this increases commodity prices.

There are also times when SPS measures prevent importers from being able to bring in products that could reduce prices of goods that are in short supply.

“Kung nagkaron tayo ng mga ganung  [if we encounter those] shortfalls, it’s so difficult to bring in the imports. The importer needs to secure [many] permits to bring in the [products],” Balisacan also said. See “NTBs,” A2

By Jasper Emmanuel Y. Arcalas @jearcalas

MANILA is eyeing to seal a government-to-government (G2G) fertilizer deal next month and take advantage of the falling prices of the commodity to supply local farmers with cheaper planting inputs.

Agriculture Assistant Secretary Arnel V. De Mesa said the current leadership of the Department of Agriculture (DA) wants to conclude its G2G negotiations on fertilizer supply next month. De Mesa pointed out that se -

curing a G2G deal that provides cheaper fertilizer to Filipino farmers is one of the marching orders of President Marcos Jr. to agriculture officials. Marcos is concurrently the country’s agriculture chief.

“There are on-going discussions together with possible sources in time for our budget next year.

We are looking at all countries because the instruction of the President is to secure the cheapest supply,” he told reporters in a recent interview.

See “G2G,” A2

PRESIDENT Ferdinand R. Marcos Jr. is eyeing to use satellite mapping data to create a comprehensive inventory of the country’s natural resources and to attract more investors.

At Monday’s inaugural meeting of the Philippine Space Council (PSC) which he chairs, Marcos highlighted the practical applications of satellite data for government initiatives particularly for food production.

He noted the ongoing government efforts to “quantify” the country’s bio assets in fisheries and agriculture.

The data, the President said, can also draw in firms that are interested in offsetting their carbon emissions by developing “bio-diverse” areas.

“The first step of that will be to map [the bio-diverse areas],” Marcos said.

The PSC will be signing a Memorandum of Understanding (MOU) for the satellite mapping measure.

Marcos urged the PSC to enter into more of such agreements with the different agencies in other countries, which

See “Satellite,” A2

what Filipinos family represent. BERNARD TESTA

PEZA endorses to BOI 70% of IT-BPM firms’ applications

70 percent of the applications for the paper transfer registration of enterprises seeking to enjoy up to 100 percent work-fromhome setup.

The investment promotion agency also noted that the number of applications they received is only 41 percent of the agency’s 1,088 RBEs under the IT and Business Process Management (IT-BPM) sector.

Of the 446 applications it received, PEZA said that as of December 20, 2022, some 70 percent of the applications have been endorsed to the BOI. Currently, PEZA said it is still in the process of endorsing all applications to the BOI.

Last week, PEZA Deputy Director General (DDG) for

Operations Vivian S. Santos said PEZA came up with an internal deadline, or December 16, based on PEZA Memorandum Circular (MC) 2022-070.

“The BOI would not extend PEZA’s endorsement. So, in order for PEZA to endorse on or before December 31, we need to also come up with a deadline and the deadline we have provided in our memorandum circular is December 16. That’s the last day of filing,” Santos said.

However, the PEZA official noted that the agency will see to it that applications with

complete requirements will be endorsed to the BOI on or before December 31 as the effectivity of the paper transfer that will allow 100 percent work from home will be on January 1, 2023.

According to the PEZA MC 2022-070 dated October 24, “The earlier deadline of December 16 is to ensure that PEZA will have sufficient time to review the applications before we endorse it to BOI.”

Last month, PEZA told the BusinessMirror that the endorsement by PEZA to BOI is considered a “certification” of its no objection and that the endorsed RBEs are compliant with the terms and conditions of registration and are in “good standing.”

Pursuant to the Department of Trade and Industry (DTI) Memorandum Circular No. 22-19, supported by the Fiscal Incentives Review Board (FIRB), which was issued last October 18, the RBEs have until December 31 to exercise the option to register with BOI. At a virtual media

briefing held last December 16, Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo said, “So far we’ve worked within the deadline. So we’ll assess based on the numbers provided… [Of course, we’ll work closely with the ITIBPAP [Business Process Association of the Philippines],” the BOI managing head said, then added that the number might have already been final, and that others may not be interested to transfer. “So we have to work really closely with the industry.”

Rodolfo said the BOI is coordinating with Peza and the Fiscal Incentives Review Board (FIRB) to carry out the process of the papertransfer registration. (Related story in the BusinessMirror.December 19: https:// businessmirror.com.ph/2022/12/19/withpeza-green-light-it-bpm-projects-gearup-for-wfh-rollout/)

Debt. . .

Continued from A1

In November 2022, the BOP posted a deficit of $756 million, higher than the $123-million BOP deficit recorded in the same month last year.

“The BOP deficit in November 2022 reflected outflows arising mainly from the National Government’s payments of its foreign currency debt obligations and the Bangko Sentral ng Pilipinas’ net foreign exchange operations,” BSP said.

GIR level

MEANWHILE , the BSP said the country’s gross international reserves (GIR) level increased to $95.1 billion as of end-November 2022.

This was from $94 billion as of end-October 2022, an upward revision from the initial estimate of around $93 billion.

BSP Governor Felipe M. Medalla said additional reserves came in the form of borrowings, other money inflows, and higher value of the government’s assets.

The BSP said the latest GIR represented a more than adequate external liquidity buffer equivalent to 7.2 months’ worth of imports of goods and payments of services and primary income.

It is also about 5.8 times the country’s short-term external debt based on original maturity and 3.8 times based on residual maturity.

NTBs. . .

Continued from A1 G2G. . .

Continued from A1

De Mesa explained that under a G2G agreement, the country may secure urea at a price of P1,800 per 50-kilogram bag, about P700 lower than the prevailing retail price of the fertilizer at P2,500 per 50-kilogram bag.

Since the previous administration, the agriculture department has been looking to secure a G2G deal that allows the Philippines to access cheaper fertilizers amid the skyrocketing price of the vital planting input in the world market due to Russia’s invasion of Ukraine.

The average price of Urea per 50-kilogram bag breached the P3,000-level this year at the height of the Ukraine-Russia war.

“We want to secure the [G2G] transactions as early as possible to ensure sufficient supply and ensure that prices will no longer increase,” De Mesa said.

One of the countries that Manila is keen on doing a G2G fertilizer deal with is China, he added.

De Mesa said part of the fineprint they will finalize in the coming weeks are the volume and amount that the G2G fertilizer deal would entail.

De Mesa added that the softening of world fertilizer prices is a welcome development for the Philippines since it would translate to the possibility of purchasing more supply.

“We are looking at the most advantageous deal for the government. The President wants to get the deal at the lowest price to get more volume,” he said.

De Mesa explained that a portion of the budget for the G2G supply may come from the P13-billion fertilizer subsidy program of the DA. At present, the DA is implementing a fertilizer voucher program to help farmers cope with the spike in the price of the planting input.

Satellite. . .

were involved in satellite imaging.

Also tackled during the PSC meeting was the proposed National Space Week or Pambansang Linggo ng Kalawakan from August 8 to 14 beginning next year.

The week-long celebration aims “to promote space awareness, espouse the benefits of space and its impact on the lives of the people, celebrate the contribution of Filipinos in the field of space and inspire the future generation.” Samuel P. Medenilla

Hiking interest rates, Balisacan said, will also affect the country’s growth. With high interest rates, investments would have less incentive to locate in the Philippines.

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

Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said the impact of the recent interest rate hike would be 19 bps in 2024, or a reduction of a percentage point from GDP growth.

In 2023, the impact would be less at 7 bps or less than a percentage-point reduction due to the lag time in the impact of the rate hike on growth.

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

‘23 budget for tourism road projects lowest since 2017

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

THE Department of Public Works and Highways (DPWH) has allocated some P15.7 billion for the construction of access roads and bridges to tourism destinations in 2023.

According to the National Expenditure Program for 2023 made available by the Department of Budget and Management, the largest budgets for tourism roads and bridges will go to Regions 5 (Bicol) at P2.25 billion, 13 (Caraga) at P1.62 billion, 12 (Soccsksargen) at P1.58 billion, and 7 (Central Visayas) at P1.15 billion. Region 9, or the Zamboanga Peninsula, received no allocation for said projects next year.

The DPWH has an ongoing Tourism Road Infrastructure Program (TRIP) with the Department of Tourism (DOT), which identifies the priority destinations that need infrastructure projects. Representatives of both agencies at the regional level then work on the possible projects and their details for discussion and endorsement to the regional development councils, which include private sector representatives. Once passed at the regional cosultation level, the projects are then finalized at the central office of both agencies for inclusion in the next budget cycle.

Based on official documents, the TRIP funding allocation for 2023 is 8 percent less than this year’s P17.09-billion budget, and the lowest since 2017, which had a budget of just P12.33 billion. This year’s TRIP budget is supposed to fund the construction of 604 road projects. Funding for tourism infrastructure projects also account for just 1.31 percent of the DPWH’s total budget of P1.19 trillion in 2023.

In the DOT’s yearend briefing on Monday, Tourism Secretary Christina Garcia Frasco said, “We’re also working with the DPWH for purposes of our road infrastructure convergence program. The challenge that we faced at the beginning of the year, is that there are already continuing infrastructure projects that were already identified previously. And so our task has been to adopt due diligence among all our 16 regions as far as the other infrastructure needs of our destinations. We’ve compiled this list already, and we’ll be coordinating with the DPWH for purposes of inserting these infrastructure projects for the year 2024.”

As per the latest accomplishment report on the DOT-DPWH convergence program, 3,075.46 kilometers worth of tourism road projects have been completed as of April 2022, under TRIP funding allocations from 2016 to 2021. The largest TRIP budget was recorded at P30.91 billion in 2018, under DOT chiefs Wanda Tulfo Teo and Bernadette Romulo Puyat, and DPWH Sec. Mark Villar. The convergence program was initiated in 2015 by then Tourism Secretary Ramon Jimenez Jr. and Public Works Secretary Rogelio “Babes” Singson.

According to the NEP 2023, among the TRIP projects for 2023 include the construction of the Cagraray circumferential road in Albay, where Misibis Resort (Cagraray Island) is located; the Mandridejos-Bantayan Road, an alternate road to Cebu destinations including Bantayan Island; roads leading to several caves in South Cotabato, Sarangani province, and Agusan del Sur; a road leading to the Enchanted River in Hinatuan, Surigao del Sur, etc.

Meanwhile, Frasco said the DOT is also working with the Department of Information and Communciations Technology (DICT) to improve the Wi-fi connectivity “in at least 94 destinations all over the Philippines, recognizing the trend of foreigners and even locals wanting to work from home and at the beach.” Both agencies signed a memorandum of understanding for this purpose.

At the height of the pandemic, the DOT promoted several tourism destinations like Boracay Island, as ideal work-from-home sites, with a number of hotels having strong internet connections that make them appealing for stays by digital nomads.

THE Philippine Economic Zone Authority (PEZA) said it has already endorsed to the Board of Investments (BOI)

By Glen Jacob Jose

THE Philippine Drug Enforcement Agency (PDEA) on Tuesday destroyed over P7.2 billion worth of various dangerous drugs, controlled precursors and essential chemicals (CPECs) at the Integrated Waste Management Inc. (IWMI) facility in Trece Martires City, Cavite.

Destroyed were a total of 1.4 million grams of dangerous drugs and a total net volume of 101.8 milliliters of drug evidence seized from antidrug operations by PDEA and other law enforcement agencies.

Based on the consolidated report of the PDEA Laboratory Service, the illegal drugs included 1.06 million grams of shabu worth P7.2 billion, 317.4 kilograms of marijuana worth P38 million; 230.4 grams of cocaine worth P1.2 million; 9,169 grams of ecstasy worth P15 million; 1,037.8 grams of ketamine worth P4.04 million, among others.

In a news statement, PDEA noted that the seized dangerous drugs were destroyed through thermal decomposition or thermolysis, which involves breaking down chemical compounds with the use of tremendous heat.

“At 1,000 degrees Centigrade, all dangerous drugs are totally decomposed or broken down,’’ it added.

Missing ‘sabungeros’ already presumed dead, but no clear mastermind yet, DOJ chief says

By Joel R. San Juan @jrsanjuan1573

JUSTICE Secretary Jesus Crispin Remulla doused on Tuesday any hopes to the families of the more than 30  sabungeros, or cockfighting aficionados, who have been missing since 2021 that they are still alive, saying that they should all be presumed dead.”

T he circumstances of all of them are the same…There’s really no hope that they will return alive,” Remulla said over a radio broadcast interview.

R emulla said all the circumstances surrounding the disappearance of the sabungeros would indicate strong possibility that they would not be returning to their loved ones.

“ In fact, I wouldn’t even want to call them anymore missing sabungeros , but probably dead sabungeros. That…might be a more precise term to describe these people,” Remulla added.

R emulla earlier met with the families of the sabungeros and assured them that the government, particularly the National Bureau of Investigation (NBI) would continue its probe into the disappearances.

On Monday, the DOJ indicted

three police officers for robbery and kidnapping in connection with the disappearance of Ricardo Lasco in Laguna in August 2021.

T he DOJ identified the policemen as Police Staff Sergeant Daryl Paghangaan and Patrolmen Roy Navarete and Rigel Brosas.

T he DOJ found probable cause to indict the three after they were positively identified by the relatives of the victim during the preliminary investigation.

I nvestigation showed that a group of armed men barged into Lasco’s residence at CG Brion Subdivision, Barangay San Lucas in San Pablo City, Laguna, on August 30, 2021, and arrested him for alleged large-scale estafa.

T he complainants further alleged that the armed men introduced themselves as operatives of the NBI.

L asco has been missing for more than a year now.

R emulla said he is set to hold another dialogue with the families of the sabungeros on January 11, 2023.

W hen asked if investigators already have a lead as to the identity of the mastermind of these disappearances, Remulla admitted that the government is still facing a blank wall on the matter.

“ We will point to the master -

mind as long as there is evidence already. We cannot just put blame on people without evidence,” Remulla stressed.

PNP structural changes proposed

MEANWHILE , Remulla is pushing for the transfer of the Internal Affairs Service (IAS) from the Philippine National Police to the control of the Department of the Interior and Local Government (DILG) to boost the fight against erring cops.

He said there is a need for structural changes in the PNP to address such problems.

Actually, I have already talked to the President and Secretary [Benjamin] Abalos [Jr.]. I also discussed the matter with [House] Speaker [Martin] Romualdez that probably the internal affairs unit of the PNP should be outside the PNP structure and must be placed in the hands of the DILG Secretary and the latter should as well have a say in personnel movement,” the DOJ chief added.

Remulla noted that police organizations in other countries adapt to the same set-up he is proposing.  “ The Internal Affairs Office has to be a very strong unit with its own budget and not under

the chief of the PNP,” Remulla explained.

He noted that IAS counterparts in other countries are feared by police scalawags as they are independent from the police organization.

Remulla further explained that putting the IAS outside of the PNP structure might end the so-called code of silence among policemen when their colleagues get involved in an anomaly.

But the DOj Secretary admitted that an amendment of the law creating the PNP is needed before such proposal can be implemented.

Structurally we need to institute changes in the PNP through the amendment of the PNP law,” he said.

“ That’s the only hope we have so that we can check the abuses of the PNP,” he added.

T he IAS serves as the PNP’s institutional watchdog in charge of disciplining, monitoring and investigating and adjudicating administrative cases of erring PNP personnel.

T he IAS is under the direct supervision of the chief PNP, thus, all its recommendations are subject to his automatic review and approval.

Crame announced that PNP chief Rodolfo Azurin Jr. has signed the dismissal order from the service of the five policemen allegedly involved in the case of a missing e-sabong master agent in Laguna last year.

P NP Spokesperson Col. Jean Fajardo told reporters in an interview that Azurin has signed the dismissal order against the five cops, based on the recommendation from the IAS that has found substantial evidence on the administrative charges filed against policemen Paghangaan, Navarete, Henry Sasaluya, Michael Claveria and Brosas over the alleged kidnapping of Lasco, an e-sabong master agent who was abducted from his residence in San Pedro Laguna in 2021.

S he said these policemen are currently under restrictive custody at the Calabarzon regional police headquarters.

Azurin signs dismissal order for 5 cops IN

a related development Camp

“Once they receive the official copy of their dismissal order, then the PNP will let go of them because the PNP has no jurisdiction over them. They really need to receive it officially so that at least they will be given the opportunity, as part of the due process to appeal the recommended penalty to them,” said Fajardo in Filipino. With Glen Jacob Jose

Editor: Vittorio V. Vitug

BusinessMirror

DTI inks 3 accords to boost food security and logistics efficiency

By Andrea E. San Juan

THE Department of Trade and Industry (DTI) said it has signed three agreements with government agencies aimed at enhancing food security and logistics efficiency in the country, among others.

In a news statement issued on Tuesday, the trade department said DTI Secretary Alfredo E. Pascual, through his representative, and DPWH Secretary Manuel Bonoan inked a memorandum of agreement (MOA) that aims to “renew and formulate their working arrangement to jointly undertake the planning, budgeting, implementation, and monitoring of road projects that will enhance food security and logistics efficiency in the country.”

T he DTI divulged that the first MOA between the two agencies was signed under the administra-

tion of former President Rodrigo R. Duterte, creating the Roads Leveraging Linkages of Industry and Trade (ROLL IT Program).

A ccording to DTI, from 2018 to 2023, the total budget allocated for this program reached P60 billion for road upgrading projects that support priority industries under the Comprehensive National Industrialization Strategy.

Meanwhile, under the new MOA, DTI noted that the ROLL IT Program shall be “reformulated” to ROLL IT 2.0—Logistics Efficiency and Transport Seamlessness to Enhance Agribusiness Trade (LETS EAT Program), that is “highly focused” on improving road infrastructure along truck routes which are used to transport food and agribusiness products to markets, manufacturing centers, ports and airports, and logistics facilities such as warehouses and cold chain storages.

A nother agreement that DTI signed is the Logistics Efficiency and Transport Seamlessness for Growth Outcomes (LETS GO), a “convergence” program with the Department of Transportation (DOTr).

T he trade department said this program will identify logistics-related infrastructures such as ports, airports, rail that DOTr will prioritize and implement to help increase trade, reduce logistics costs, and improve efficiency.

To add to the agreements that DTI entered into, it also inked a MOA with DOTr on jointly promoting Ease of Doing Business to harmonize sea freight and airfreight accreditation.

In 2021, the DTI said it rolled out the Logistics Services Philippines (LSPH) Project Streamlining to identify regulatory constraints in the freight-forwarding sector. DTI’s Fair Trade Enforcement Bureau (FTEB)

and the Civil Aeronautics Board (CAB) unveiled their key findings that there are “separate and redundant” accreditation requirements and processes for sea and airfreight forwarders.

F TEB and CAB are the two agencies mandated to issue licenses to operate.

T he trade department said its “shared objective” is to reduce documentary requirements, fees, and processing time and align with the standards set under Republic Act 11032 or the Ease of Doing Business Act.

More importantly, we want to make the accreditation process easy and eliminate steps and repetitive requirements. We start with the streamlining of procedures between the two agencies, but the desired outcome is faster processing by making a single application for both services available online,” the DTI said.

Gomez on SIM card listing information drive: Let DICT and telcos do the job

By Jasper Emmanuel Y. Arcalas @jearcalas

LEYTE Rep. Richard Gomez on Tuesday reminded the Department of the Interior and Local Government (DILG) that it is not the role of the local government units (LGUs) to ensure that Filipinos would abide by the mandated SIM

card registration.

Gomez made the remarks following a recent pronouncement by Interior Secretary Benjamin Abalos Jr. that LGUs should help in the national government’s campaign of informing the public about the mandatory SIM card registration.

G omez emphasized that the “primary mover” of Republic Act

11934 or the Subscriber Identity Module (SIM) Registration Act is the Department of Information and Communication Technology (DICT).

It is the responsibility of the DICT and the telecommunication companies to implement the registration of SIM cards, including informing the public the WHYs and the DOs,” he said in a news statement issued on Tuesday.

Why give the burden of letting the public know about the pros and cons of the measures, and the registration methods, to the LGUs when these already have so much task at hand?” he added.

G omez argued that the telcos must not burden the LGUs, claiming that the former are the ones earning hundreds of millions of pesos daily from mobile phone users. Besides, Gomez pointed out that the LGUs already have a lot on their plates in addressing the needs of their constituents.

“ They are much richer than most LGUs. They should take care of their own business and their own problems because their profits are all

theirs to keep and enjoy,” Gomez said. Marami na pong trabahong inaasikaso ang ating mga LGUs. Pangunahin po rito ang unahin ang mga pangangailangan ng kanilang mga constituents. Ang SIM card registration po ay trabaho ng DICT at ng telcos. Hayaan na po nating sila ang gumawa ng kanilang trabaho,” Gomez added.

L ast Monday, Abalos called on LGUs to help the national government in the campaign to inform their constituents on the mandatory sim registration. Filipinos may start registering their SIM cards on December 27.

A balos proposed that the LGUs conduct an intensive information drive to educate their constituents on the requirements and importance of the SIM card registration law.

“As we seek to ensure public safety even in the online space, I encourage LGUs to exert all efforts to promote responsible use of SIM cards, educate their stakeholders on the benefits of mandatory SIM card registration and guide them through the whole registration process,” he said in the same statement.

THE Department of Trade and Industry (DTI) said the Philippine exporters’ participation in a five-day trade exhibition held in Paris, France generated $25.7 million in initial export sales.

During the Salon International de I’Alimentation Paris (SIAL) held in Paris from October 15 to 19, the DTI said a Coconut Philippines Pavilion was mounted to highlight higher value-added coconut products as part of the approved activities under the Coconut Farmers and Industry Development Plan (CFIDP).

“SIAL Paris 2022 is a launch pad for food innovation, trends and sustainability. We are glad that through the promotion of Philippine coconut products in the global arena, we are also fulfilling the CFIDP’s mandate and goal to uplift the lives of the coconut farmers,” Assistant Secretary Glenn G. Peñaranda, DTI’s Officerin-Charge for Trade Promotion, said during the Orientation of CFIDP.

According to DTI, the CFIDP was approved by former President Rodrigo R. Duterte early this year, with the goal of “uplifting the lives of our coconut farmers.”

T he trade department divulged that 13 Philippine enterprises, comprising 26 representatives, showcased their high-value coconut, cacao, coffee, and ube products.

T he DTI noted that the delegation was composed mainly of small and medium enterprises (SMEs) and supported by the presence of large companies serving as additional anchors to attract the attention of foreign buyers to the Coconut Philippines Pavilion.

“ The participating companies were Cattleya & Rose Gourmet Foods Trading, Century Pacific Agricultural Ventures Inc. [CPAVI], CocoPlus

Aquarian Development Corporation, Fenor Foods International Corp., Hijo Superfoods Inc., Mardak Global Export Inc., Pasciolco Agri Ventures, Peter Paul Philippine Corp., Philippine Craft Distillers Inc., Prosource International Inc., and Unilab Inc.Sekaya Global,” DTI said in a news statement on Tuesday.

Calling it the world’s largest exhibition for food innovation, the DTI said the SIAL Paris 2022 has provided a “brand-new perspective and holistic approach” to the future of the global agri-food industry. The trade department noted that the said trade exhibition also has provided quality buyers and potential leads for the exporters.

Junever Mahilum-West, Ambassador of the Philippines to France, highlighted the potential of coconut products in the European market. She said the participation in the expo was not just a showcase, but also an “integral step” to helping local farmers in the Philippines.

We all know how important coconut is to the Filipinos and to our farmers. That’s why we are so proud to be part of this exhibit and show the world the coconut products from the Philippines. I was glad to know that many innovative products are made of coconut now, like breakfast cereals and coconut wraps which shows that all your needs for breakfast can come from the coconut. It is also very healthy because it’s plantbased,” Mahilum-West said.

According to DTI, the delegation met with two French cooperatives— Coopération Agricole, a joint representative body for French agricultural, forestry, agri-food, and agribusiness cooperatives, and Maison du Lait, a joint organization that structures the dairy sector.  Andrea E. San Juan

AIR quality in Metro Manila is at its worst episodes during the Christmas and New Year revelry because of the firecrackers and fireworks that emit hazardous pollutants that can harm human health.

T his was emphasized by experts at a webinar organized by the Ecowaste Coalition as part of its yearly “Iwas Paputoxic” campaign to remind the public against the danger and hazard of exploding firecrackers and lighting fireworks on December 24 and Decem-

ber 31 to celebrate Christmas and the coming of the New Year.

Aileen Lucero, national coordinator of EcoWaste Coalition suggested that instead of wasting money on injurious, noisy, and polluting firecrackers and fireworks, households, commercial establishments and local government units should buy food and other necessities for needy people, stressing “the human right to a clean, healthy and sustainable environment must take precedence over toxic festivities.” Jonathan

L. Mayuga

Pinoy exporters net $25.7 million in sales in Paris trade exhibition

‘Metro air quality declines during Yuletide Holidays’

DOJ chief Remulla issues ILBO vs Bantag and Zulueta

By Joel R. San Juan @jrsanjuan1573

THE Department of Justice (DOJ) has issued an immigration lookout bulletin order (ILBO) against suspended Bureau of Corrections (BuCor) chief Gerald Bantag and former Deputy Security Officer Ricardo Zulueta who are accused of masterminding the killing of broadcaster Percival “Percy Lapid” Mabasa and inmate Jun Villamor, the alleged middleman in the case.

T he ILBO was issued to monitor the whereabouts of Bantag and Zulueta and prevent them from evading possible criminal prosecution.

Considering the gravity of the offense charged in the criminal complaints, there is

a strong possibility that respondents may attempt to place themselves beyond the reach of the legal processes by leaving the country,” the DOJ’s urgent memorandum read.

T he memorandum was dated December 7 but was made public only on Tuesday.

T he DOJ acknowledged that the ILBO “is for monitoring purposes only” and cannot be used to prevent Bantag and Zulueta from leaving the country.

Bantag and Zulueta were charged as principals by inducement in the Lapid killing.

Also charged as “principals by indispensable cooperation” were Bilibid inmates Denver Batungbakal Mayores, Alvin Cornista Labra, Aldrin Micosa Galicia and Alfie Penaredonda.

For Villamor’s death, Bantag and Zulueta were charged as principals by inducement, while persons deprived of liberty (PDL) Labra, Galicia, Mario Germones Alvarez and Joseph Medel Georfo were charged as principals by indispensable cooperation, while PDLs Christam Dizon Ramac, Ricky Lamigo Salgado, Ronnie Pabustan de la Cruz and Joel Alog Reyes were charged as principals by direct participation.

The DOJ is currently conducting preliminary investigation on the complaint jointly filed by the National Bureau of Investigation (NBI) and the Philippine National Police (PNP).

Bantag has filed a motion seeking the inhibition of the panel of prosecutors conducting the preliminary investigation and the immediate transfer of the investigation of the murder charges before the Ombudsman, which he said has the primary jurisdic-

tion over the case.

Bantag’s camp accused the DOJ of being biased against the suspended BuCor chief.

It cited the recent pronouncements of Justice Secretary Jesus Crispin Remulla accusing Bantag as the one who ordered the killing of Lapid and Villamor.

He noted that the investigating prosecutors are under the control and supervision of the justice secretary.

PNP to help

LTO in going after drunk drivers on the road

By Glen Jacob Jose

THE Philippine National Police (PNP) on Tuesday said it would assist personnel of the Metropolitan Manila Development Authority (MMDA) and Land Transportation Office (LTO) in the enforcement of traffic rules and in going after drunk drivers amid the expected frenzy of Christmas gatherings and parties.

In a news statement, PNP chief Gen. Rodolfo Azurin Jr. urged motorists not to “drink and drive” to avoid road accidents.

“ The PNP is maximizing efforts to further reduce Public Safety Indicators of Total Crime Incidents by initiating measures to reduce vehicular accidents that may result in homicide, physical injury and damage to property,” Azurin said.

A nyone caught driving under the influence may be meted with imprisonment, and/or fines of up to P500,000 depending on the gravity of the situation.

“In this regard, the PNP will assist the MMDA and LTO in implementing RA 10586

The Anti-Drunk and Drugged Driving Act of 2013,” he added.

A zurin, meanwhile, said they are also strictly monitoring the illegal sale of firecrackers ahead of the New Year revelries.

T his is to ensure that the manufacturing, distribution and use of regulated and illegal firecrackers and pyrotechnic devices are at all times in check, “With the end in view of no or lesser damage to property and injuries to people,” he added.

“PNP Units are under instructions to strictly enforce RA 7183 An Act Regulating the Sale, Manufacture and Use of Firecrackers and other Pyrotechnic Devices,” the PNP chief said.

A zurin said there would be no gun muzzling of PNP personnel’s firearms this year, saying he is confident that they would not fire these during the holiday revelry.

However, he said no personnel would be spared if they would engage in indiscriminate firing while their immediate superiors would also be held accountable.

“ We are reminding all gun holders of their responsibility not to indiscriminately fire their guns while in revelry and merry making,” he said.

The full might of the law will be applied to anyone who will fire a gun to celebrate the holidays, much more if the violator belongs to the uniformed services, dismissal from the government service shall be swift,” he stressed.

ABOUT 91 percent of adult Pinoys expressed trust in the ability of Secretary Erwin T. Tulfo to lead the Department of Social Welfare and Development (DSWD).

T his is based on the latest results of the Tugon ng Masa (TNM) National Survey, which is an independent and non-commissioned poll, regularly conducted by the OCTA Research Group as a public service.

B ased on the results of the survey, Tulfo, as DSWD Secretary, got a trust rating of 96 percent in Mindanao; 92 percent in the Visayas; 91 percent in the National Capital Region (NCR) and 89 percent in Balanced Luzon.

Based on socioeconomic class, Tulfo got the highest trust performance rating of 93 percent in Class D, while Class ABC and E were all at 87 percent.

T he survey also revealed that Filipinos are highly aware that Tulfo is the DSWD secretary at the moment.

A side from President Ferdinand R. Marcos Jr. and Vice President Secretary Sara Duterte, only Tulfo got 100 percent awareness among adult Filipinos, compared to

other Cabinet members.

He was followed by Department of the Interior and Local Government (DILG) Secretary Benjamin Abalos Jr., who got 85 percent and Department of Information and Communications Technology (DICT) Secretary Ivan John Uy, who got 81 percent.

Meanwhile, when it comes to his performance as DSWD secretary, 76 percent of adult Filipinos have expressed satisfaction with his performance.

Tulfo got the highest satisfaction performance rating of 89 percent in the National Capital Region (NCR), while he got 84 percent in the Visayas; 81 percent in Mindanao and 67 percent in Balanced Luzon.

Based on socioeconomic class, he got the highest satisfaction performance rating of 89 percent in Class E; 75 percent in Class D and 68 percent in Class ABC.

T he survey also revealed that the five main characteristics of Tulfo that adult Pinoys like are: 1) brave (45 percent); helps the poor (40 percent); 3) diligent (26 percent); 4) fight anomalies in the government (26 percent); 5) honesty and trustworthiness (23 percent).

Solgen to join DOH in future vaccine procurement nego

By Butch Fernandez @butchfBM

THE Office of the Solicitor General is expected to join the Department of Health  (DOH) in negotiations for another bulk purchase of vaccine supply against the deadly Covid-19 virus, according to Senator Francis Tolentino, chairman of the investigating Senate Blue Ribbon Committee on Public Accountability.

Tolentino said Blue Ribbon probers expect the DOH to heed suggestions to include the Office of the Solicitor General (OSG) in negotiations for another bulk purchase of the anti-Covid-19 vaccine supply.

A ccording to Tolentino, there were suggestions that the OSG would be a “big help giving advice and reviewing provisions of the contract, particularly if the vaccine supplier demands a provision on non-disclosure or confidentiality clause which could affect the audit of the transaction.”

It will be recalled that the DOH at first refused to share details of the transaction with the Commission on Audit (COA), citing the confidential provisions of the contract between the government and the supplier dating back to 2020 due to the non-disclosure provision.

MMDA,

OCTA poll shows 91% of adult Pinoys trust Tulfo’s capability to lead DSWD

Republic of the Philippines DEPARTMENT OF LABOR AND EMPLOYMENT

Regional Office No. IV-A

4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City

Telefax No.: (049) 545-7362

December 21, 2022

NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S)

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

NO. ESTABLISHMENT

1 ANOC99 CORPORATION

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

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

BRAN AUNG

Burmese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

LOUK AIE

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

10 ANOC99 CORPORATION

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

11

ANOC99 CORPORATION

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

STEVEN KWADENTEEL

Indonesian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

CHAN CHEE JIAN

Malaysian Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

JEANNIE LIM SU LYN

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

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

Salary Range: Php30,000 - Php59,999

Basic Qualification:

2

ANOC99 CORPORATION

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

3 ANOC99 CORPORATION

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

Burmese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

LIAO, WEI

Chinese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

ZENG, LINGLEI

4 ANOC99

CORPORATION

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

5

Chinese Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

ANGELINE

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

ANOC99 CORPORATION

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

6 ANOC99 CORPORATION

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

Indonesian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

FRAN TRAVIX LIMBONG

Indonesian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

SHELLY

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

12

ANOC99 CORPORATION

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

13 ANOC99 CORPORATION

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

Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

LEE GUAN KHENG

Malaysian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

WONG TECK CHIAN

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

14 ANOC99 CORPORATION

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

15 ANOC99 CORPORATION

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

Malaysian Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HOANG VAN TUAN

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

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

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

16 FASTOCK WAREHOUSING INC.

2nd Floor, UMPI Main Bldg., Nissan Technopark, Pulong Santa Cruz, City of Santa Rosa, Laguna

ANOC99

7

CORPORATION

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

8 ANOC99

CORPORATION

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

Indonesian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

STELLA

Indonesian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

STEVANI

9

ANOC99 CORPORATION

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

Indonesian Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

Basic Qualification:

Able to speak, read and write Chinese language

Salary Range: Php30,000 - Php59,999

17 FASTOCK WAREHOUSING INC. 2nd Floor, UMPI Main Bldg., Nissan Technopark, Pulong Santa Cruz, City of Santa Rosa, Laguna

PENG, YAJUAN Mandarin Operations Supervisor

Basic Qualification: Bachelor’s degree in business management. Fluent in Mandarin language

Salary Range: Php60,000 – Php89,999

Salary Range: Php60,000 – Php89,999

Salary Range: Php60,000 - Php89,999

Brief

Salary Range: Php60,000 - Php89,999

11.

SONG, BINGBING Chinese Customer Service Representative

Brief Job Description: Managing incoming calls and customer service inquires.

OOI BENG HOCK Malaysian Customer Service Representative

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

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

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

12.

13.

14.

Brief Job Description: Managing incoming calls and customer service inquires.

HOANG VAN SACH Vietnamese Customer Service Representative

Brief Job Description: Managing incoming calls and customer service inquires.

NGUYEN PHUONG NAM Vietnamese Customer Service Representative

Brief Job Description: Managing incoming calls and customer service inquires.

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

Basic Qualification: Able to speak, read, and write chinese language.

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

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

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

BAOLONG TECHNOLOGY INDUSTRY GROUP LIMITED INC. 24th-27th/f Century Diamond Tower, Kalayaan Ave. Cor. Salamanca St., Poblacion, City Of Makati

CHAN XIANG JIN Mandarin Speaking Customer Service

15.

16.

17.

Brief Job Description: Attracts potential customers by answering product and service questions, suggesting information about other products and services

HOANG THI KHE Mandarin Speaking Customer Service

Brief Job Description: Attracts potential customers by answering product and service questions, suggesting information about other products and services

NGUYEN DINH CHINH

Mandarin Speaking Customer Service

Brief Job Description: Attracts potential customers by answering product and service questions, suggesting information about other products and services

TA THI KIM Mandarin Speaking Customer Service

Basic Qualification: Can speak mandarin Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Can speak mandarin Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Can speak mandarin Salary Range: Php 30,000 - Php 59,999

Basic

18.

Brief Job Description: Attracts potential customers by answering product and service questions, suggesting information about other products and services

UNG CHOI HO Mandarin Speaking Customer Service

Basic Qualification: Can speak mandarin Salary Range: Php 30,000 - Php 59,999 19.

Brief Job Description: Attracts potential customers by answering product and service questions, suggesting information about other products and services

NGUYEN HUU ANH Mandarin Speaking Customer Service Representative

Basic Qualification: Can speak mandarin Salary Range: Php 30,000 - Php 59,999 20.

Brief Job Description: Attracts potential customers by answering product and service questions, suggesting information about other products and services

Basic Qualification: Can speak mandarin Salary Range: Php 30,000 - Php

98.

CAI,

Brief

LAI NGOC HOA Chinese Speaking Graphic Designer

Basic Qualification: With Atleast 6 Months Customer Service Experience/Good in Oral Communication and Written

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

99.

100.

Brief Job Description: Assist/help customers, give customers information about product and services.

VONG NGOC HUONG Chinese Speaking Graphic Designer

Brief Job Description: Assist/help customers, give customers information about product and services.

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

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

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

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

Basic

101.

102.

LUO, YUAN Chinese Speaking Program Designer

Brief Job Description: Assist/Help customers, give customers information about product and services

PITER Chinese Speaking Program Designer

Brief Job Description: Assist/Help customers, give customers information about product and services

Basic Qualification: With Atleast 6 Months Customer Service Experience/Good in Oral Communication and Written

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

Basic Qualification: With Atleast 6 Months Customer Service Experience/Good in Oral Communication and Written

Php 30,000 - Php 59,999 114.

LI, JIAJUN Mandarin Technical Support

Brief Job Description: Monitoring and maintaining computer systems and networks

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

PRICEWATERHOUSECOOPERS SERVICE DELIVERY CENTRE (MANILA) LIMITED 15th/16th Flr., The 30th Corporate Center, Meralco Ave., Ugong, City Of Pasig 115.

116.

MESWANI, SALONI SAMEER Senior Analyst - Assurance Services

Brief Job Description: Responsible for IT technical support with the understanding of the service delivery models, specifically in the Health Industry; Retail and Consumer; Industrial

Basic Qualification: 1. Graduate of any business-related course. 2. Expertise in Health Industry; Retail and Consumer; Industrial Products; Telecommunications and Infrastructure; Media and Software of United States. 3. Exposure in working in different industries across global markets and collaborating with virtual teams.

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

ODEDRA, KAJAL JAYMALBHAI Supervisor - Assurance Services

Brief Job Description: Responsible for shaping management decision, participate in all phases of a financial statement and audit of internal controls.

Basic Qualification: Must be a graduate of any business-related course and must have a professional certification such as CA/CISA or any equivalent certification.

Salary Range: Php 60,000 - Php 89,999

THANG CO LINH Chinese Speaking Program Designer

Basic Qualification: With at least 6 months customer service experience/good in oral communication and written.

Salary Range: Php 30,000 - Php 59,999 103.

Salary Range: Php 30,000 - Php 59,999 NOVATECH (PASAY) LIMITED, INC. 4th Flr. W Mall Bldg., Diosdado Macapagal Ave. St., Zone 10, Barangay 76, Pasay City 104.

NGUYEN THI THUY PHUONG Vietnamese Speaking Customer Service Representative

Brief Job Description: Deal with all customer queries/complaints; Should be fluent in Vietnamese & English speaking

117.

Basic Qualification: Preferably With 6 Months - 1 Year Experience With a Customer Service Representative

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

PACIFIC SEA BPO SERVICES, INC. 16/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

NGUYEN NGOC KIEU MY Data Analyst Officer

105.

Brief Job Description: Multilingual customer support, specifically for other Asian language

SAINI, LALIT RAJ Supervisor - Assurance Services

Brief Job Description: Responsible for shaping management decision, participate in all phases of a financial statement and audit of internal controls.

REFINITIV

Brief Job Description: Performs remote and onsite technical work to fulfill the customer contracts in product Installation, Move, Add and Change (IMAC).

Basic Qualification: Must be a graduate of any business-related course and must have a professional certification such as CA/CISA or any equivalent certification.

Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Experience in operating systems (Linux and Windows) and networking technologies and in a customer-facing technical service role; proficiency in English and Spanish; amenable on any shift.

Basic Qualification: Must Be 21 Years Old and Above; Graduate of Any Vocational or Bachelor’s Degree Course; at Least 1 Year Experience as Data Analyst or Customer Service; With Good Oral and Written Communication

Salary Range: Php 30,000 - Php 59,999 106.

PHAN THANH NGOC BICH Data Analyst Officer

Brief Job Description: Multilingual customer support, specifically for other Asian language

Basic Qualification: Must Be 21 Years Old and Above; Graduate of Any Vocational or Bachelor’s Degree Course; at Least 1 Year Experience as Data Analyst or Customer Service;

Salary Range: Php 60,000 - Php 89,999 TENERITY PHILIPPINES CORP. 12th Floor, W Fifth Building, 32nd St. Cor. 5th Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig 119.

120.

MELEKE, STEPHANE French Customer Care Specialist

Brief Job Description: Respond professionally, accurately and in a timely manner to customer contacts (primarily inbound calls and may also encompass outbound calls, email, etc.).

MIESOON, APRIL BWAMUNDA French Customer Care Specialist

Brief Job Description: Respond professionally, accurately and in a timely manner to customer contacts (primarily inbound calls and may also encompass outbound calls, email, etc.).

Basic Qualification: Excellent interpersonal, listening, written and verbal communication skills. Ability to work collaboratively in a team environment

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

Basic Qualification: Excellent interpersonal, listening, written and verbal communication skills. Ability to work collaboratively in a team environment Salary Range: Php 30,000 - Php 59,999

Covid death toll in China’s capital shows further rise

By Dake Kang The Associated Press

Asian markets follow Wall St lower amid gloomy outlook

By Joe McDnald AP Business Writers

BEIJING—Asian stock markets extended their losses Tuesday amid gloom about weaker global economic growth as central banks raise interest rates to cool inflation.

Shanghai, Hong Kong and Sydney declined. Tokyo advanced. Oil prices rose almost $1 per barrel.

Markets are sliding after the US Federal Reserve raised its key lending rate last week and the European Central Bank said more rate hikes are ahead. That fueled investor fears central bankers might be willing to cause a recession to fight inflation that is at multi-decade highs.

Wall Street declined Monday for a fifth day after the Fed said last week rates might have to stay elevated longer than previously forecast.

“The tone in markets reflects a cloudy outlook for the global economy,” said Anderson Alves of ActivTrades in a report.

The Shanghai Composite Index lost 0.6 percent to 3,088.80 after the World Bank cut its forecast of China’s economic growth this year to 2.7 percent from its June outlook of 4.3 percent. The bank cited repeated shutdowns of major cities to fight Covid-19 outbreaks.

The Hang Seng in Hong Kong sank 1 percent to 19,151.04 while the Nikkei 225 in Tokyo added 0.3 percent to 27,319.86.

The Kospi in Seoul shed 0.1 percent to 2,348.93 and Sydney’s S&P-ASX 200 lost 0.6 percent to 7,089.30. New Zealand and Southeast Asian markets also retreated.

Wall Street’s benchmark S&P 500 index fell 0.9 percent to 3,817.66. The index is down about 20 percent this year with less than two weeks left in 2022.

The Dow Jones Industrial Average fell 0.5 percent to 32,757.54.

The Nasdaq composite lost 1.5 percent to 10,546.03. Communications services stocks, technology companies and retailers declined. Disney slid 4.8 percent, Microsoft fell 1.7 percent and Home Depot dropped 1.9 percent lower.

Facebook’s parent company fell 4.1 percent after the European Union accused the company of breaching antitrust rules by distorting competition in the online classified ads business.

The Fed raised its short-term lending rate last week by one-half percentage in its seventh increase this year.

The federal funds rate stands at a 15-year high of range of 4.25 percent to 4.5 percent. The Fed forecast that will reach a range of 5 percent to 5.25 percent by the end of 2023. The forecast doesn’t call for a cut before 2024.

Investors were looking ahead to US economic reports this week for an update on the path of inflation. It has declined from its 9.1 percent high in June but still stood at 7.1 percent in November.

The National Association of Realtors reports November home sales Wednesday. Also Wednesday, the Conference Board releases its consumer confidence report for December.

On Friday, the government will report November consumer spending. The report is watched by the Fed as a barometer of inflation.

In energy markets, benchmark US crude gained 85 cents to $76.23 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international oil trading, added 77 cents to $80.57 per barrel in London.

The dollar rose to 137.29 yen from Monday’s 136.99 yen. The euro gained to $1.10607 from $1.0604.

Malaysia’s prime minister addresses sodomy trials after opposition attack

By Anisah Shukry

MALAYSIAN Prime Minister Anwar Ibrahim was forced to revisit his sodomy convictions, after opposition leaders in the Muslim-majority nation took aim at his past during Monday’s confidence vote.

The sodomy trials were unjust and the king at the time, Sultan Muhammad V, had recognized this in 2018, Anwar told parliament on Tuesday. Anwar was eventually granted a royal pardon for his crimes.

“I didn’t apply for a pardon because I was punished. Make it clear on the record, in the Hansard,” Anwar said in his first parliament speech as prime minister. Instead, the monarch took the initiative to offer him the pardon because of a “clear travesty of justice,” he said.

An opposition politician’s attempt to interrupt Anwar was quickly rebuffed. “I know this statement is painful for you, because this is what you have played up,” said the prime minister, as backbenchers thumped their desks in support.

Anwar’s rivals had made several references to the convictions as they debated the leader’s confidence vote on Monday. One MP spoke of the “rape and sodomy of democracy,” while

another read aloud what he said was a news article headline “First Full-blown Homosexual Elected Prime Minister in an Islamic Country.x”

Communications Minister Fahmi Fadzil later questioned the existence of such a news agency, called Itali Agenzia Nova.

Anwar’s past has long been a sore spot for Malaysia’s majority Malay Muslims. While Anwar won Monday’s confidence vote easily, his rise to power last month capped a 24-year-wait that included multiple stints in prison.

Shor tly after his 1998 sacking from the cabinet, Anwar was jailed for committing sodomy and abusing power, charges he denied. He was convicted in 2014 on a subsequent sodomy charge and jailed in 2015 when his appeal was denied. The royal pardon in 2018 allowed him to bypass a five-year ban on reentering politics.

Anwar on Tuesday cited multiple discrepancies in his sodomy case, such as the accusation that the incident happened in a building he said had yet to exist at the time. He also spoke of a person forced to become a witness, without going into details.

“We oppose a judiciary that goes against the principles of justice,” said the prime minister.

Bloomberg News

BEIJING—The death toll in the latest Covid-19 surge in China’s capital Beijing has risen incrementally, as feverish clinic patients and an increase in the funeral business point to a widening outbreak after an easing of strict virus containment regulations.

Unofficial reports suggest a widespread wave of new coronavirus cases, and relatives of victims and people who work in the funeral business said deaths tied to Covid-19 were increasing. Those people spoke on condition of not being identified for fear of retribution, official policy and the direction of the latest outbreak remain cloaked in uncertainty and confusion.

The National Health Commission on Tuesday said five newly recorded fatalities, all in Beijing, had taken the country’s total death toll to 5,242—relatively low by global standards but potentially set to increase substantially following moves by the government to step away from the “zero-Covid” policy of lockdowns, quarantines and compulsory testing that has stag -

gered the economy and prompted rare anti-government protests.

With people testing and recuperating at home, China has said it is no longer possible to keep an accurate count of new case numbers, making it substantially more difficult to gauge the state of the current wave of infection and its direction. Some scientific models have estimated numbers will rise with an eventual death toll in the tens or hundreds of thousands.

China is trying to persuade reluctant seniors and others at risk to get vaccinated, apparently with only moderate success. Vaccination centers visited over recent days have been largely empty and there has been no major publicity drive in the entirely state-controlled media.

The other major concern is shoring up health resources in smaller

cities and the vast rural hinterland ahead of January’s Lunar New Year travel rush, which will see migrant workers returning to their hometowns.

Numbers of fever clinics have been expanded in both urban and rural areas and people have been asked to stay home unless seriously ill to preserve resources.

Hospitals are also running short on staff, and reports say workers have been asked to return to their posts as long as they aren’t feverish.

Chinese health authorities count only those who died directly from Covid-19, excluding deaths blamed on underlying conditions such as diabetes and heart disease

that raise risks of serious illness.

In many other countries, guidelines stipulate that any death where the coronavirus is a factor or contributor is counted as a Covid-19 related.

China had long hailed its restrictive “zero-Covid” approach as keeping case numbers and deaths relatively low, comparing itself favorably to the US, where the death toll has topped 1.1 million.

Yet the policy of lockdowns, travel restrictions, mandatory testing and quarantines placed China’s society and the national economy under enormous stress, apparently convincing the ruling Communist Party to heed outside advice and alter its strategy.

Yen surges as Kuroda’s yield cap shock heralds BOJ normalization

By Toru Fujioka & Sumio Ito

BANK of Japan Governor Haruhiko Kuroda shocked markets by doubling a cap on 10-year yields, sparking a jump in the yen and a slide in government bonds in a move that helps pave the way for possible policy normalization under a new governor.

The BOJ will now allow Japan’s 10-year bond yields to rise to around 0.5 percent, up from the previous limit of 0.25 percent, according to a policy statement Tuesday.

The central bank said the move would enhance the sustainability of its monetary easing, but many economists interpreted the move as laying the preliminary groundwork for exiting a decade of extraordinary stimulus policy.

The central bank kept its 10year yield target unchanged at around zero percent and left its short-term interest rate at -0.1 percent. It also said it would significantly increase its bond purchases to 9 trillion yen ($67.5 billion) per month compared with the currently planned 7.3 trillion yen.

The yen strengthened to as much as 133.11 against the dollar, compared with 137.16 immediately before the announcement. The 10-year yield jumped to as high as 0.46 percent from 0.25 percent after the decision.

Japanese bank stocks surged in afternoon trading as investors expected improved earnings for financial institutions. Mitsubishi UFJ Financial Group Inc. rose as much as 9.6 percent, the most

in six years, while Mizuho Financial Group also soared.

The ripple effects also spread far outside Japan, with US stockindex futures slumping and Treasury yields climbing.

Read more: Global Markets Jolted as BOJ Surprises With Yield Policy Change

The move blindsided all 47 economists surveyed by Bloomberg ahead of the decision. While most of them said the bank should do more to improve the functioning of the bond market, none had expected a tweak in December.

The surprise decision has the potential to send shockwaves through global financial markets as the BOJ’s steadfast commitment to defending its 10-year yield cap has served as an anchor indirectly helping keep borrowing costs low around the world.

“This is a total surprise. As the market focus has been on the joint accord with the government and people let their guards down, the BOJ pushed through this adjustment,” said

Mari Iwashita, chief market economist at Daiwa Securities Co. “Its surprise impact will be strong for the yen and stocks.”

In the runup to the BOJ gathering, speculation had centered on the likely direction of policy after Kuroda steps down.

Prime Minister Fumio Kishida is planning on revising a decade-old accord with the BOJ and will consider adding flexibility to the agreement’s 2 percent price goal, local media reported over the weekend. The reports came after a key aide to Kishida told Bloomberg earlier this month that there is a possibility of reaching a new accord with the central bank.

The reports had kept investors and analysts looking at developments away from the yield band. The 2013 joint statement is seen as a fundamental component of Japan’s push to escape from deflation orchestrated by former Prime Minister Shinzo Abe and put into action by Kuroda, his handpicked BOJ chief.

In recent months, the governor had repeatedly stuck to

a resolutely dovish stance by stressing the need for stimulus until stronger wage growth takes place, ruling out the possibility the BOJ will take action against the yen’s slump.

He had also characterized any widening of the movement band around the yield target as equivalent to a rate hike, a description that led most economists to believe such a move was still some time away. In that sense, the sudden move opens him up for renewed criticism over the credibility of his explanations.

Masamichi Adachi, chief Japan economist at UBS Securities and a former BOJ official, said he was surprised that Kuroda was willing to take another possible hit to his reputation and risk coming out as “the bad guy.”

“Whatever the BOJ calls this, it is a step toward an exit,” said Adachi. “This opens a door for a possible rate hike in 2023 under a new governorship.”

Even if Kuroda’s main intention was to extend the lifespan of the BOJ’s stimulus framework, economists largely agreed that the move presaged further change under a new leadership.

“I think the central bank is still getting closer to conducting a review. With the BOJ holding more than 50 percent of bonds it’s clear that it’s difficult to continue with the current policy,” said Harumi Taguchi, principal economist at S&P Global Market Intelligence. “It’s also time to take another look at the joint statement with the government.”

assistance from Yuko Takeo and Yoshiaki Nohara/Bloomberg.

COMMUTERS walk through a subway station during the morning rush hour in the central business district in Beijing on Tuesday, December 20, 2022. China continues to adapt to an easing of strict virus containment regulations. AP/ANDY WONG

A CURRENCY trader passes by screens showing the Korea Composite Stock Price Index (KOSPI),

left, and the foreign exchange rate between the US dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, on Tuesday, December 20, 2022. AP/AHN YOUNG-JOON

With

THE move by Bank of Japan Governor Haruhiko Kuroda to double the cap on 10-year yields strengthened the yen but weakened government bonds. BLOOMBERG

MIF can help PHL farm sector grow

For many years, the Philippine agriculture sector had to contend with the seeming disinterest of policymakers in putting more money into initiatives that are designed to boost farm productivity. While policymakers agree that modernizing the local farm sector is the way to go to expand the access of consumers to affordable food, investments that would have significantly increased the country’s food supply have been few and far between. Because of this, the share of the agriculture sector to the country’s gross domestic product—or the sum of goods and services produced within a country’s borders—has dwindled to just 10 percent, from 20 percent a decade ago.

Last month, the president of Bayside Terminal and Transportation Services Inc. pointed out that rural areas in the country are in dire need of cold chain facilities. These cold chain facilities will help producers preserve food items and prevent them from incurring losses because of spoilage (See, “Cold chain in rural areas to solve agri woes,” in the BusinessMirror, November 7, 2022). Even simple equipment, like ice-making machines, could not be provided to local fishermen who are forced to travel far just to procure the ice they need to preserve their catch.

What’s compounding the woes of local planters is that there is a dearth of investments from the private sector despite several appeals made, and incentives dangled, by the government. This is because putting one’s money in Philippine agriculture remains a risky venture given the vulnerability of the sector to natural and man-made disasters. It does not help that the country’s crop insurance mechanism has at best managed to cover only a third of local planters, according to a study released by the World Bank in June (See, “PHL needs to overhaul agri insurance scheme,” in the BusinessMirror, June 6, 2022).

It is for this reason that the Philippine Chamber of Agriculture and Food Inc. is asking lawmakers to earmark a portion of the envisioned Maharlika Investment Fund in projects that would significantly improve productivity (See “Sovereign wealth fund must benefit PHL agri,” in the BusinessMirror, December 19, 2022). As the sovereign wealth fund would be bankrolled by government resources, PCAFI said a portion of the MIF should be invested in the agricultural value chain. The construction of postharvest facilities and warehouses were cited as viable ventures that the proposed MIF could finance.

Some of the officials pushing for the passage of the bill that would create the MIF have said that it would be tapped to address the power and food needs of the country. The initial capitalization of the fund would come from government financial institutions including the Land Bank of the Philippines, which has been mandated to serve the needs of farmers and fishers. Because of this, government must take the lead in enhancing the attractiveness of the farm sector to entice private sector investors by allotting a portion of the MIF for agricultural projects and other initiatives that seek to strengthen the country’s food security.

Elon Musk Twitter poll ends with users seeking his departure

By Matt O’brien, Kelvin Chan & Tom Krisher | AP Business Writers

MILLIons of Twitter users asked elon Musk to step down as the head of Twitter in a poll the billionaire created and promised to abide by. But by Monday afternoon there was no word on whether Musk would step aside or who the new leader might be.

Twitter has grown more chaotic and confusing under Musk’s leadership with rapidly vacillating policies that are issued, then withdrawn or changed.

Among those voting with the “go” camp almost certainly were Tesla investors who have grown tired of the 24/7 Twitter chaos that they say has distracted the eccentric CEO from the electric car company, his main source of wealth.

Musk also used his Tesla stock to partially fund the acquisition of Twitter.

Shares of Tesla are down 35 percent since Musk took over Twitter on Oct. 27, costing investors billions. Tesla’s market value was over $1.1 trillion on April 1, the last trading day before Musk disclosed he was buying up Twitter shares. The company has since lost 58 percent of its value, at a time when rival automakers are cutting in on Tesla’s dominant share of electric vehicle sales.

“This has been a black eye moment for Musk and been a major overhang on Tesla’s stock, which con-

tinues to suffer in a brutal way since the Twitter soap opera began,” Wedbush analyst Dan Ives wrote Monday.

If Musk’s tenure ends, it would be a major positive for Tesla stock and a sign that Musk is “finally reading the room that has been growing frustration around this Twitter nightmare,” Ives wrote.

Musk attended the World Cup final Sunday in Qatar, where he opened the poll. Since the poll closed early Monday, Musk has been uncharacteristically silent on Twitter as he appeared to be flying back to the US.

Musk has taken a number of unscientific polls on substantial issues facing the social media platform, including whether to reinstate journalists that he had suspended from Twitter, which was broadly criticized in and out of media circles.

The polls have only added to a growing sense of tumult on Twitter since Musk bought the company for $44 billion, potentially leaving the future direction of the company in the hands of its users.

Among those users are people

Among those voting with the “go” camp almost certainly were Tesla investors who have grown tired of the 24/7 Twitter chaos that they say has distracted the eccentric CEO from the electric car company, his main source of wealth.

recently reinstated on the platform under Musk, people who had been banned for racist and toxic posts, or who had spread misinformation.

Since buying Twitter, Musk has presided over a dizzying series of changes that have unnerved advertisers and turned off users. He’s laid off half of the workforce, axed contract content moderators and disbanded a council of trust and safety advisors. He has dropped enforcement of Covid-19 misinformation rules and called for criminal charges against Dr. Anthony Fauci, the top US infectious disease expert.

Musk clashed with some users on multiple fronts and on Sunday, he asked Twitter users to decide if he should remain in charge, acknowledging he made a mistake in launching new restrictions that banned the mention of rival social media websites.

The results of the online survey, which lasted 12 hours, showed that 57.5 percent of the 17.5 million respondents wanted him to leave, while

42.5 percent wanted him to stay.

The poll followed just the latest significant policy change since Musk acquired Twitter in October. Twitter had announced that users will no longer be able to link to Facebook, Instagram, Mastodon and other platforms targeted for “prohibition.”

Early Monday, the tweets from Twitter’s ‘Support’ account and the Twitter blog announcing the “prohibitions” disappeared without explanation. Twitter no longer has a press office so it was not possible to ask why.

That decision had generated immediate blowback, including criticism from past defenders of Twitter’s new owner. Musk then promised that he would not make any more major policy changes to Twitter without an online survey of users.

The action to block competitors was Musk’s latest attempt to crack down on certain speech after he shut down a Twitter account last week that was tracking the flights of his private jet.

The banned platforms included mainstream websites such as Facebook and Instagram, and rivals Mastodon, Tribel, Nostr, Post and former President Donald Trump’s Truth Social.

A growing number of Twitter users have left under Musk, or created alternative accounts on rival

Asian bourses join billion-dollar race to tap carbon offset boom

By Sheryl Tian Tong Lee, Heesu Lee & Ishika Mookerjee Bloomberg Opinion

THe drive to launch new carbon exchanges in Asia has reached new heights with Malaysia entering the fray, raising questions about how many will survive in a market that could be worth hundreds of billions in a few decades.

Bursa Malaysia Bhd. opened an exchange this month, joining more than a dozen that are under way or planned across the region. Thailand and Japan debuted their platforms in September, followed by Hong Kong a month later. Singapore has two fledgling bourses. “We’re in another one of those mad dashes,” Thomas McMahon, co-founder of Singapore’s AirCarbon Pte, said in an interview. “We’ve seen this rush before, if you look at the early days of blockchain” and cryptocurrencies.

The exchanges enter a crowded voluntary offsets market that could soar over the next few decades but has so far gotten off to a slow start. Trading and prices have slumped, while concerns mount about how much offsets actually contribute to fighting climate change.

What’s clear is that money in Asia is flowing into the space, with investors betting the flurry of climate pledges from countries and

companies will drive growth. The exchanges have raised tens of millions of dollars, with powerful backers including sovereign wealth funds like Temasek Holdings Pte of Singapore and Abu Dhabi’s Mubadala Investment Co., along with banks such as Standard Chartered Plc and DBS Group Holdings Ltd.

Demand for offsets could grow 40-fold between now and 2050, to 5.2 billion tons of CO2 equivalent, or about 10 percent of global emissions, according to BloombergNEF. Prices could reach $120 per ton by then, making it potentially a $600 billion market.

Companies are drawn to the offsets market as a way to counter their emissions from burning fossil fuels. An offset is a promissory note that represents a ton of carbon dioxide emissions removed, or not added, to the atmosphere in return for a payment. Some regions, including the European Union and California,

have mandatory programs imposed on some polluters, while many of the fledgling exchanges are voluntary markets.

Some of these new bourses are setting themselves up for what’s to come in the region, including additional compliance credit schemes that are set to grow, said Hannah Hauman, global head of carbon trading at Trafigura Pte. “It’s a mix of national interest, capacity building, and that down the road, somebody could eventually have a lot of liquidity and win the game,” said Federico Di Credico, Asia-Pacific managing director at ACT Commodities.

Elusive profits

SO far, it’s been far from lucrative. Existing platforms are struggling to attract enough transactions, with confusion over the integrity of carbon projects and a lack of clarity over how global trading of credits should work. Traders and analysts are also preparing for a bleak year ahead as polluters reduce buying amid inflation and recessionary fears.

For standardized contracts to be profitable, volumes would have to be “extremely high” and the market isn’t there yet, Singapore’s Climate Impact X CEO Mikkel Larsen said in an interview. “A lot of things have to

improve in the market for all of us to make money.”

For now, profitability is “all in the primary market” as margins are higher, he added. In that market, buyers purchase carbon credits directly from project developers, such as through an auction. These can then be traded in the secondary market.

CIX, which is backed by Singapore’s stock exchange and Temasek, has sold 420,000 credits through various auctions since it started.

AirCarbon, or ACX, which has transacted over 17 million carbon credits to date, aims to break even by 2025, McMahon said. Having raised more than $25 million from funders including Enterprise Singapore, Deutsche Boerse AG and Mubadala, it’s seeking another $50 million in a new round. ACX is targeting $33 million in revenue and 20 million credits transacted next year, McMahon said.

New players

MOr E platforms are coming. Indonesia’s bourse is looking to develop its own carbon exchange, while India is putting together a blueprint for a voluntary carbon market. Larsen and McMahon have talked to dozens of companies and countries interested in having their own exchanges. With assistance from Ali Asghar / Bloomberg.

Loved or hated, Fauci’s parting advice: Stick to the science

By Lauran Neergaard | AP Medical Writer

WAShINGTON—Long before the bobbleheads and the “Fauci ouchie,” Dr. Anthony Fauci was a straight shooter about scary diseases—and “stick with the science” remains his mantra.

Fauci steps down from a fivedecade career in public service at the end of the month, one shaped by the HIV pandemic early on and the Covid-19 pandemic at the end.

In an interview with The Associated Press, Fauci said he leaves excited by the prospect of advances such as next-generation coronavirus vaccines—but worried that misinformation and outright lies mark a “profoundly dangerous” time for public health and science.

“Untruths abound and we almost normalize untruths,” Fauci said. “I worry about my own field of health, but I also worry about the country.”

Fauci, who turns 82 on Christmas Eve, has been a physician-scientist at the National Institute of Allergy and Infectious Diseases for 54 years, and its director for 38 of them.

Because he candidly puts complex science into plain English, Fauci has advised seven presidents, from Ronald Reagan to Joe Biden, about a long list of outbreaks—HIV, Ebola, Zika, bird flu, pandemic flu, even the 2001 anthrax attacks.

“Stick with the science and never be afraid to tell somebody something that is the truth—but it’s an inconvenient truth in which there might be the possibility of the messenger getting shot,” Fauci said. “You don’t worry about that. You just keep telling the truth.”

He added, with characteristic understatement: “That’s served me really quite well with one exception that, you know, the truth generated a lot of hostility towards me in one administration.”

For all his prior influence on national and even global responses to infectious diseases, it wasn’t until Covid-19 paralyzed the world in early 2020 that Fauci became a household name—giving the latest updates at daily White House press conferences and in frequent media interviews.

But eventually, Fauci found himself having to contradict then-President Donald Trump’s attempts to downplay the severity of the viral threat and promote unproven treatments. Trump and his allies began attacking Fauci, who even received death threats that required a security detail for his protection.

As the world enters another year of Covid-19, Fauci still is a frequent target of the far right—but also remains a trusted voice for millions of Americans.

Under his watch, researchers at the National Institutes of Health laid the scientific groundwork for the speedy development of powerful coronavirus vaccines. An analysis released by the Commonwealth Fund last week found the shots saved 3.2 million lives in the US alone and prevented 18.5 million hospitalizations.

With another winter uptick underway, Fauci’s disappointed that just 14 percent of people eligible for the updated Covid-19 boosters— shots that add protection against omicron strains—have gotten one.

“That doesn’t make any sense at all, when you have a vaccine that you know is life-saving,” he said. But he’s also looking forward to next-generation vaccines that do a better job of

preventing infection, citing promising leads like nasal vaccines.

For all the political attacks, the public did struggle to understand why some of his and others’ health advice changed as the pandemic wore on—such as why masks first were deemed unnecessary and later mandated in certain places.

Fauci said one of the pandemic’s lessons is to better convey that it’s normal for messages to change as scientists make new discoveries.

“That doesn’t mean you’re flipflopping. That means you’re actually following the science,” he said.

Fauci has had a hand in life-saving scientific advances for decades. As a young researcher at the National Institutes of Health, he helped develop highly effective therapies for rare but once-fatal blood vessel diseases known as vasculitis syndromes.

Then came the AIDS crisis and days that Fauci, treating patients in NIH’s hospital, recalled as “very dark and very difficult.”

“As a physician you’re trained to heal people. And we weren’t healing anybody. Everybody was dying in front of us.”

Fauci created an AIDS division that, together with drug companies and universities, led research into drugs that eventually transformed HIV into a manageable chronic disease. Later, under President George W. Bush, Fauci helped develop PEPFAR, the President’s Emergency Plan for AIDS Relief, to bring those HIV medications to poor countries. The program is credited with saving more than 20 million lives over the past 20 years.

But it took years to get even the first anti-AIDS medications—and in the late 1980s and early ‘90s, furious activists protested what they saw as government indifference.

Fauci brought the activists to the table, making it standard practice for patient advocates to have a voice in government decisions about drug research.

Unfortunately, he said, that experience can’t help bridge today’s political divisions that are hurting public health.

The AIDS activists “were theatrical. They were iconoclastic. They were provocative. They were confrontational, all of the above. But the fundamental core message that they had was a correct message,” Fauci said. “That is enormously different from what is going on right now with Covid, where untruths abound, conspiracy theories abound, distortions of reality abound.”

Despite that kind of rancor, Fauci is excited about recent scientific progress against a list of other scourges such as work toward vaccines for malaria, tuberculosis and maybe one day HIV. That’s why even though he’s leaving the government, Fauci says he’s not retiring.

“I’m going to continue to lecture and to write and to try and encourage and inspire people to go into science, medicine and public health,” he said. “There are a lot of things that are unfinished business and they will be finished sometime because science is going to do it.”

Here are the laws Trump allegedly broke–according to the January 6 Committee

By Erik Larson | Bloomberg Opinion

The house committee investigating the Jan. 6 attack on the US Capitol by Donald Trump supporters voted unanimously to ask the Justice Department to prosecute the former president for alleged crimes—including inciting an insurrection.

The committee’s nine members agreed Monday that their 17-month probe found enough evidence to urge that Trump and others face four federal criminal charges linked to efforts to overturn the 2020 election, which Joe Biden won.

“We’ve never had a President of the United States stir up a violent attempt to block the transfer of power,” Chairman Bennie Thompson said at the panel’s final meeting Monday. “If we are to survive as nation of laws and democracy, this can never happen again.”

The referrals do not carry any legal weight. The Justice Department has its own investigation and is free to disregard the lawmaker referrals. Trump and his allies have maintained their innocence and claimed the Jan. 6 committee was politically motivated. Even so, a summary spells out what the committee believes prosecutors can prove at trial, based on interviews and other evidence.

Obstruction of an official proceeding

I T ’S a crime to “corruptly” obstruct, influence or impede any official government proceeding, or attempt to do so. The committee said there “should be no question” that the Joint Session of Congress to count electoral votes on Jan. 6, 2021 was an official proceeding, and that Trump was part of an effort to obstruct it. Evidence

showed that “Trump was attempting to prevent or delay the counting of lawful certified Electoral College votes” and was “personally involved” through his pressure on Vice President Mike Pence to derail the meeting, the panel said. Trump’s alleged obstruction was corrupt, the committee said, because he’d been told by his own experts that his theory on staying in power was unconstitutional, and his election fraud claims repeatedly failed in court. The fake electors scheme was also a violation, the lawmakers said. The maximum sentence is 20 years.

Conspiring to defraud the US I T S a crime for two or more people to coordinate to defraud the US, if at least one of the people does some act to carry out the conspiracy. “Trump entered into an agreement with individuals to obstruct a lawful function of the government,” through a “multi-part plan” to obstruct the certification that involved lawyer John Eastman “and several other individuals,” the committee said. The panel added that former Justice Department lawyer Jeffrey Clark “stands out as a participant” because he agreed with Trump that if he were appointed acting attorney general, he would send a letter to state officials falsely stating that the Justice Department “believed that State legislatures had a sufficient factual basis

Former federal prosecutor Kevin O’Brien said the criminal case proposed by the committee “is not easy,” given that Trump and the other potential targets are “sophisticated actors” who’ve all lawyered up. Plus Trump can avail himself of defenses that are rare, such as the First Amendment, he said.

to convene to select new electors.” The maximum sentence is 5 years.

Conspiracy to make a false statement

T HIS statute is violated when a materially false statement is knowingly made to the federal government, or if such lies are covered up. The committee said Trump broke this law when he used other individuals to submit “slates of fake electors” to Congress and the National Archives. “The certifications signed by Trump electors in multiple states were patently false” because Biden won those states, the panel said. “Nothing can be more material to the Joint Session of Congress to certify the election than the question of which candidate won which States,” the committee said. Notably, the panel said Republican National Committee Chairwoman Ronna McDaniel testified that Trump and Eastman asked the RNC to organize the effort to have fake electors meet and cast their votes. The maximum sentence is five years.

“Incite,” “Assist” or “Aid and Comfort” an insurrection

T HIS law is violated when one “incites, sets on foot, assists, or engag-

es in any rebellion or insurrection against the authority of the United States or the laws thereof, or gives aid or comfort thereto.” The committee said it doesn’t need to show an agreement between Trump and the rioters to prove this crime but only that the president “incited, assisted or aided and comforted those engaged in violence or other lawless activity in an effort to prevent the peaceful transition of the Presidency.” The evidence shows Trump summoned the mob, provoked them after the threat of violence was clear and inflamed their anger at Pence, the committee said. Trump “refused to condemn the violence or encourage the crowd to disperse despite repeated pleas from his staff and family that he do so,” the committee held. Representative Jamie Raskin said at the meeting that this charge would disqualify the former president from holding office, if he is convicted. The maximum sentence is 10 years.

‘Not easy’

FoR MER federal prosecutor Kevin o’Brien said the criminal case proposed by the committee “is not easy,” given that Trump and the other potential targets are “sophisticated actors” who’ve all lawyered up. Plus Trump can avail himself of defenses that are rare, such as the First Amendment, he said.

“Perhaps most crucially, Trump tended to operate elusively—handing off tasks to subordinates, avoiding confrontation, eschewing emails — so admissible evidence may be harder to come by than followers of the January 6th Committee might expect,” o Brien said.

Dutch leader apologizes for Netherlands’ role in slave trade

By Mike Corder | The Associated Press

The hAGUe, Netherlands—Dutch Prime Minister Mark Rutte apologized Monday on behalf of his government for the Netherlands’ role in slavery and the slave trade, in a speech welcomed by activists as historic but lacking in concrete plans for repair and reparations.

“Today I apologize,” Rutte said in a 20-minute speech that was greeted with silence by an invited audience at the National Archive.

Ahead of the speech, Waldo Koendjbiharie, a retiree who was born in Suriname but lived for years in the Netherlands, said an apology was not enough.

“It’s about money. Apologies are words and with those words you can’t buy anything,” he said.

Rutte told reporters after the speech that the government is not offering compensation to “people — grandchildren or great grandchildren of enslaved people.”

Instead, it is establishing a 200 million-euro ($212 million) fund for initiatives to help tackle the legacy of slavery in the Netherlands and its former colonies and to boost education about the issue.

Rutte apologized “for the actions of the Dutch state in the past: posthumously to all enslaved people worldwide who have suffered from those actions, to their daughters and sons, and to all their descendants into the here and now.”

Describing how more than 600,000 African men, women and children were shipped, “like cattle” mostly to the former colony of Suriname, by Dutch slave trad-

ers, Rutte said that history often is “ugly, painful, and even downright shameful.”

Rutte went ahead with the apology even though some activist groups in the Netherlands and its former colonies had urged him to wait until July 1 of next year, the anniversary of the abolition of slavery 160 years ago and said they had not been sufficiently consulted in the process leading up to the speech. Activists consider next year the 150th anniversary because many enslaved people were forced to continue working in plantations for a decade after abolition.

Mitchell Esajas, director of an organization called The Black Archives and a member of activist group Black Manifest, did not attend the speech despite being invited because of what he called the “almost insulting” lack of consultations with the Black community.

He said it was a historic moment but lamented the lack of a concrete plan for reparations.

“Reparation wasn’t even mentioned,” Esajas said. “So, beautiful words, but it’s not clear what the next concrete steps will be.”

Rutte’s gave his speech at a time when many nations’ brutal colonial histories have received criti-

cal scrutiny because of the Black Lives Matter movement and the police killing of George Floyd, a Black man, in the US city of Minneapolis on May 25, 2020.

The prime minister’s address was a response to a report published last year by a governmentappointed advisory board. Its recommendations included the government’s apology and recognition that the slave trade and slavery from the 17th century until abolition “that happened directly or indirectly under Dutch authority were crimes against humanity.”

The report said that what it called institutional racism in the Netherlands “cannot be seen separately from centuries of slavery and colonialism and the ideas that have arisen in this context.”

Dutch ministers fanned out Monday to discuss the issue in Suriname and former colonies that make up the Kingdom of the Netherlands — Aruba, Curacao and Sint Maarten as well as three Caribbean islands that are officially special municipalities in the Netherlands, Bonaire, Sint Eustatius and Saba.

In Suriname, the small South American nation where Dutch plantation owners generated huge profits through the use of enslaved labor, the largest opposition party, NDP, condemned the Dutch government for failing to adequately consult descendants of enslaved people in the country. Activists in the country say that what’s really needed is compensation.

“The NDP therefore expresses its disapproval of this unilateral decision-making process and notes

that the Netherlands is comfortably taking on the role of the mother country again,” the party said in a statement.

The year starting July 1, 2023, will be a slavery memorial year in which the Netherlands “will pause to reflect on this painful history. And on how this history still plays a negative role in the lives of many today,” the government says.

The Dutch first became involved in the trans-Atlantic slave trade in the late 1500s and became a major trader in the mid-1600s. Eventually, the Dutch West India Company became the largest trans-Atlantic slave trader, said Karwan Fatah-Black, an expert in Dutch colonial history and an assistant professor at Leiden University.

In 2018, Denmark apologized to Ghana, which it colonized from the mid-17th century to the mid-19th century. In June, King Philippe of Belgium expressed “deepest regrets” for abuses in Congo. In 1992, Pope John Paul II apologized for the church’s role in slavery. Americans have had emotionally charged fights over taking down statues of slaveholders in the South.

Now the Netherlands has joined their ranks.

But for some in the Black community, the notable day was tinged with disappointment.

“For a lot of people, it’s a very beautiful and historic moment but with—in Dutch we say—a bitter taste...and it should have been a historic moment with a sweet taste,” Esajas said. Gerold Rozenblad in Paramaribo, Suriname, contributed.

platforms and included those addresses in their Twitter profiles.

Musk has advocated for free speech on Twitter, but shut down the jet-tracking account, calling it a security risk. He used that to justify the decision last week to suspend

the accounts of numerous journalists who cover Twitter and Musk, among them reporters working for The New York Times, Washington Post, CNN, Voice of America and other publications. Many of those accounts were restored following an online poll by Musk.

The Washington Post’s Taylor Lorenz was suspended over the weekend after requesting an interview

with Musk in a tweet tagged to the Twitter owner.

Sally Buzbee, The Washington Post’s executive editor, called it an “arbitrary suspension of another Post journalist” that further undermined Musk’s promise to run Twitter as a platform dedicated to free speech.

“Again, the suspension occurred with no warning, process

or explanation—this time as our reporter merely sought comment from Musk for a story,” Buzbee said. By midday Sunday, Lorenz’s account was restored, as was the tweet she thought had triggered her suspension.

Musk was questioned in court on Nov. 16 about how he splits his time among Tesla and his other companies, including SpaceX and Twitter.

He had to testify in Delaware’s Court of Chancery over a shareholder’s challenge to Musk’s potentially $55 billion compensation plan as CEo of the electric car company.

Musk said he never wanted to be a CEo of any company, preferring to see himself as an engineer.

In public banter with Twitter followers Sunday, Musk expressed pessimism about the prospects for a

new CEo saying that person “must like pain a lot” to run a company that “has been in the fast lane to bankruptcy.”

“No one wants the job who can actually keep Twitter alive. There is no successor,” Musk tweeted. O’Brien reported from Providence, Rhode Island, while Chan reported from Whalley, England, and Krisher reported from Detroit. AP writer Brian P. D. Hannon contributed to this report

PEZA: P141-B INVESTMENTS EXCEED TARGETS FOR 2022

THE Philippine Economic Zone Authority (PEZA) said it has surpassed its 2022 target, recording P140.7 billion worth of investments from January to December.

We are proud to report that PEZA has approved a total of 198 projects from January to December 2022 which are expected to bring in P140.7 billion worth of investments.

This is a 103.03-percent increase compared to the same period last year,” PEZA Officerin-Charge Tereso O. Panga said on Monday.

Meanwhile, in terms of employment and exports, the investment promotion agency unveiled in a statement on Tuesday that it was able to create 1,850,842 direct jobs and generate $54.239 billion in exports as of October 2022.

PEZA said the 13 new and expansion projects which were approved last December 15 by the PEZA Board, presided over by Trade Secretary Alfredo E. Pascual, are expected to bring in P83.65 billion in investments.

T his amount for December alone is larger than the P57 billion recorded investments from the 181 projects approved in January to November 2022.

O f the 13 newly approved projects, three are by ecozone developers while 10 are by ecozone locators. Of the 10 ecozone locators’ projects, there are four export manufacturing enterprises and six IT service enterprises.  PE ZA said it recently approved four additional projects but these are subject to further evaluation.

T he 13 new and expansion projects, PEZA noted, will be located in Taguig City, Pangasinan, Cavite, Batangas, Laguna, Cebu and Negros Occidental.

T he investment promotion agency said

these investments came from Japan, Singapore, Netherlands, United Kingdom, USA, India, South Korea, the Republic of China, the British Virgin Islands, and Taiwan.

W hile investment approvals under PEZA declined by 29.85 percent in the first semester of 2022 compared to the same period in 2021, Panga said, “we never lost hope that we will recover.” The PEZA OIC attributed the increase in investments to the “big-ticket investments that were prequalified by the Board for endorsement to the [Fiscal Incentives Review Board] FIRB.”

He added: “At the rate we are going now, PEZA has achieved this year the level of annual investments approved in 2018. That means that the country’s ecozones and highperformance investments are back to the prepandemic, even surpassing the 2018 level.”

B ased on the data trend presented by PEZA from 2018 to 2022, the investment approvals for 2022 have exceeded its fouryear annual performance with P140.2 billion recorded in 2018.

PE ZA explained the downward trend in investment approvals from 2018 to 2021, citing the pandemic, the war between Russia and Ukraine, and the ensuing global supply chain disruptions as reasons.

Moving forward, Panga said PEZA is banking on the increasing gross domestic product (GDP) of the country, which he sees attracting more investments.

With the increasing GDP growth rate of the Philippines, we can expect more [foreign direct investments] FDIs to register with PEZA. What is important is we keep building and sustaining the confidence of investors and the country’s competitiveness in investment promotions and facilitations,” Panga said. Andrea E. San Juan

PHL, world’s 2nd biggest rice buyer, imports record 3.6MMT

By Jasper Emmanuel Y. Arcalas @jearcalas

chased rice from China, India, Japan, Singapore and Spain during the reference period.

N AN STU Agri Traders topped the list of rice importers with a total import arrival of 199,540.35 MT followed by Lucky Buy and Sell (163,763 MT) and Manus Dei Resources Ent. Inc (154,571.28 MT), based on BPI data.

They also hinted that they may issue fewer SPSICs that would cover import arrivals in the first half should official figures indicate abundant supply.

L atest Bureau of Plant Industry (BPI) figures showed that a total of 3.645 MMT of rice have entered the country as of mid-December.

T he volume is already 31.54 percent higher than the 2.771 MMT total rice imports recorded for the entire 2021, based on historical BPI data.

T he United States Department of Agriculture (USDA) earlier projected that the Philippines’s total rice imports this year would reach at least 3.5 MMT, driven by higher purchases from Vietnam. Based on USDA’s estimates,

the Philippines is the world’s second biggest buyer of rice behind China.

BPI data showed that about 3 MMT of the total rice imports as of December 15 came from Vietnam. It was followed by Myanmar at 233,298 MT, Thailand at 174,056 MT and Pakistan at 170,779 MT.

BPI data showed that 147 eligible rice importers used a total of 4,066 sanitary and phytosanitary import clearances (SPSICs) in bringing in the foreign rice supplies into the country.

T he rice importers also pur -

A griculture Undersecretary Mercedita A. Sombilla earlier said the increase in the country’s rice imports this year was a “blessing in disguise” since it compensated for the decline in local production due to expensive fertilizer and impact of typhoons.

E arlier, high-ranking agriculture officials revealed that the national government will continue its practice of “managing” the entry of rice imports by slowing down the issuance of pertinent import documents during harvest seasons as authorities “balance” local production and foreign supplies. (Related story: https:// businessmirror .com.ph/2022/12/20/ slowdown-in-issuance-ofspsics-stays-as-tool-tomanage-rice-imports/)

S ince the rice trade liberalization law took effect in 2019, authorities have been looking for ways to manage the arrival of rice imports to avert an oversupply that would depress farm-gate prices of local palay.

O ne of the ways the government limits the entry of rice imports especially during harvest seasons is by slowing down on the issuance of SPSICs.

T he last time the BPI issued SPSICs for rice imports was June 6, with a corresponding volume of a little over 625,000 MT.

T he BPI, an attached agency of the DA, is mandated under Republic Act 11203 or the RTL law to oversee rice importation through issuance of SPSIC. The SPSIC is a required import document that certifies an imported good or product is safe for human consumption and health and does not bring in any threats to the local agriculture sector such as plants and animals.

House leaders vow to pass in ’23 last 12 bills on LEDAC list

THE leadership of the House of Representatives on Tuesday vowed to pass next year the 12 remaining bills endorsed by the Legislative-Executive Development Advisory Council, particularly those that ensure job creation, improve the health system and sustain economic growth.

House Speaker Martin G. Romualdez said they will pass the remaining 12 priority measures of the current administration when Congress resumes session on January 23, 2023.

T he 12 priority measures under LEDAC’s common legislative agenda are: The Enactment of an Enabling Law for the Natural Gas Industry, Amendments to the Electric Power Industry Reform Act (EPIRA). The Unified System of Separation, Retirement and Pension, The E-Governance Act and E-Government Act, The National Land Use Act,  The National Defense Act, The National Government Rightsizing Program, The Budget Modernization Bill, The Department of Water Resources, Establishing the Negros Island Region, Magna Carta Filipino Seafarers, and The Establishment of Regional Specialty Hospitals.

You can count on the House to work harder next year to do our part in improving the lives of our people. I truly believe it is the best way to express our gratitude for the greatest gift all public officials have received — the opportunity to serve our country,” Romualdez said in a statement.

The House leadership reiterates its unwavering commitment to support the Agenda for Prosperity of President Marcos. And we have backed that commitment with tangible results,” Romualdez added.

R omualdez pointed out that the House of Representatives passed a total of 19 priority measures of Marcos Jr. in just five months of the 19th Congress.

“ We approved the 19 bills under LEDAC’s CLA because we are in agreement with the Chief Executive that these measures will directly alleviate poverty, trigger economic progress, and harness competencies in government for the delivery of no less than the highest degree of service to the Filipino people. We are set to deliberate and approve the rest of the priority measures when we resume next year,” he said.

T he 19 bills that are part of the LEDAC’s CLA which the House has passed on third and final reading are: Passive Income and Financial Intermediary Taxation Act or PIFITA (The fourth package under the Comprehensive Tax Reform Program or CTRP), Virology Institute of the Philippines, Agrarian Reform Debts Condonation, Philippine Passport Act, Waste-to-Energy Bill, National Disease Prevention Management Authority or Center for Disease Control and Prevention, Medical Reserve Corps (HEART), Internet Transaction Act / ECommerce Law, Leyte Ecological Industrial Zone, Eastern Visayas

Development Authority (EVDA), Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) bill, Free Legal Assistance for Police and Soldiers, Public–Private Partnership (PPP) Act, Magna Carta of Barangay Health Workers, Valuation Reform Bill, Apprenticeship Act, and National Citizens Service Training Program (NCSTP).

Completing the 19 LEDAC’s CLA were two measures signed into law recently: Republic Act (RA) No. 11934 or An Act Requiring Registration of Subscriber Identification Module (SIM) and RA 11935 or An Act Postponing the December 2022 Barangay and Sangguniang Kabataan Elections to October 2023.

The HOR processed a total of 1,150 bills and resolutions or an average of 28 measures per session during its 41 session days from July 25 to December 15, 2022, Romualdez said.

I n his report to Romualdez, House Majority Leader and Zamboanga City 2nd District Rep. Manuel Jose Dalipe said a total of 7,402 measures were filed in the House: 6,716 were bills, 685 resolutions and 263 committee reports.

T he HOR approved 173 bills on third and final reading, passed 21 measures on 2nd reading, and adopted 43 resolutions, including Concurrent Resolution No. 2, which supported the 2022-2028 Medium Term Fiscal Framework of the Marcos administration.

J asper Emmanuel Y. Arcalas

Govt pushing for creds for PHL cyber specialists

By Samuel P. Medenilla @sam_medenilla

THE government is now pushing for the country to become a top supplier of certified cyber security specialists as they are now in-demand worldwide.

I n a press conference in Malacañang on Tuesday, the Department of Information and Communications Technology (DICT) said it is now considering entering into partnerships with large technology firms to provide the needed credentials to would-be Certified Information Sys -

tems Security Professional (CISSP).

DICT Secretary Ivan John E. Uy said the lack of access to such credentials has led to very few Filipinos becoming a CISSP.

T here are currently about 200 CISSPs in the country, significantly low compared to the 3,000 in Singapore.

What is happening is we have talented technical people, but they do not qualify for the jobs because they lack credentials or certification,” Uy said in Filipino.

C urrently, he said they are inviting the said “self-taught” experts to enrol or avail themselves

of scholarships to get the said certifications.

Once they have certificates from Cisco, Oracle, from Intel, or from Microsoft, they are now employable,” Uy said.  He said CISSPs can apply for jobs in Business Process Outsourcing, financial institutions, banks and in the business sector.

T he DICT head noted there are an estimated 2 million vacancies for CISSP worldwide.

If we can supply, even just onefourth of that, 500,000, I think that’s a very, very ambitious number,” Uy said.

THE Philippines’s rice imports have breached 3.6 million metric tons (MMT), posting a new record volume for the world’s second largest buyer of the grain.

Editor: Jennifer A. Ng

Unity Digital, PLDT ink deal for sale of 650 telco towers

By VG Cabuag @villygc

Unity Digital infrastructure inc., a joint venture between Aboitiz infraCapital inc. and global private markets firm Partners Group, through their portfolio company terra Digital Philippines Corp. have signed a sale and purchase agreement and a master agreement with PLDt inc.

The agreement covers the acquisition of 650 telecommunications towers and related passive telecommunications infrastructure for P9.2 billion, through a sale and leaseback transaction.

The telecom towers that will be purchased are situated in the Visayas and Mindanao areas, which provides unity a portfolio of strategic locations across the country.

“The Philippines is a rising technology powerhouse and one of Asia’s fast growing digital economies. However, despite the country’s increasing reliance on digital technologies, it is behind other Southeast Asian countries in terms of network connectivity,” Andrew Kwok, managing director, head private infrastructure Asia of Partners Group said.

“We see unity playing a key role in addressing this gap through building a tower portfolio, which is aligned with our vision of transforming it into the leading telecommunications infrastructure platform in the Philippines.”

Through building its portfolio of tower properties, unity plans to serve as a onestop infrastructure provider for mobile network carriers.

“Aligned with the Aboitiz Group’s Great Transformation journey, the

acquisition of these assets further expands un ity’s digital footprint and presence in the country. This initiative will continue to support our commitment to improve and provide reliable connectivity to mobile network operators, which would, in turn, advance the growth of Philippines’ digital economy,” Aboitiz InfraCapital president and C e O Cosette Canilao said.

“As a result of this partnership with unity, we expect further enhancements to our network quality, service excellence and customer experience across the Visayas and Mindanao. The improved connectivity will support the digitalization of the Philippines, bringing benefits to all Filipinos,” PLDT and Smart president and CeO Alfredo Panlilio said.

In line with the Philippine government’s common tower policy, un ity’s ongoing investment in tower infrastructure assets will help improve the information and communication technology across the country, benefitting millions of Filipinos who rely on the internet for their daily activities.

“We believe that, through these digital portfolio expansion initiatives, Aboitiz will be able to help address the gaps in connectivity and Internet access in the

AirAsia bullish on prospects for 2023

By Lorenz S. Marasigan @lorenzmarasigan

Bu D G e T carrier AirAsia Philippines painted a rosy outlook for the company in 2023, as it closes 2022 on “a high note.”

AirAsia Philippines C e O Ricky Isla said as of December 19, the carrier’s load factor was at 93 percent with top performing destinations Zamboanga, Puerto Princesa, and Roxas driving the trend.

Meanwhile, Bangkok topped the list of most booked international destinations with a 92 percent load factor, while Incheon comes in second with a 90 percent load factor.

Forward bookings for the month of January 2023 meanwhile have already reached 285,000 which is a 70 percent increase compared to the seats sold during the same month in 2022.

“We are seeing a robust travel demand next year, especially as travelers now become more comfortable with locking their trips ahead of time. A more relaxed protocol for international destinations has also set the pace for outbound travel which we expect to pick up next year as we open new exciting destinations,” Isla said.

The carrier is extending its low fare holiday deals until January 8 to encourage more guests to book their flights for travel until June 30.

In October, the airline said it aims to return to its pre-pandemic inter-

Photo from www.airasia.com

national capacity by the first half of 2023 by strengthening its ties with its host foreign destinations to spur growth in the travel and tourism sectors.

Isla said he has met with Chargé d’Affaires and Consul General of the Philippine e m bassy in Singapore e m manuel Fernandez and South Korean First Secretary and Infrastructure and Transportation Attache Yonghyun Choi to “reaffirm AirAsia’s commitment to driving larger foot traffic to these countries.”

Aside from meeting with Fernandez and Choi, Isla also met Tourism Secretary Christina Frasco “to align the airline’s growth and recovery plan with the vision of the agency for the local tourism sector.”

He said among the highlights of the discussion are the need for better regional connectivity, an expanded inter-island route network, and the promotion of lesser-known local destinations.

country. It also positions us as a leader in digital infrastructure, which greatly contributes to our goal of becoming the Philippines’s first techglomerate,” Aboitiz Group President and CeO Sabin M. Aboitiz said.

The acquisition of existing towers and development of new towers accelerates unity’s goal of becoming a major player in the local common tower industry. With this acquisition, unity Digital Infrastructure is poised to have over 1,000 active macro towers and around 500 poles for small cells in key cities nationwide.

Greenhill and Co. acted as sole financial advisor to unity Digital for the transaction.

SM firms are Pasay City’s top taxpayers

SM Group’s companies were recognized as the top business taxpayers by the local government of Pasay City in an appreciation ceremony held at the Conrad Manila.

The awards were among the highlights of the 159th founding anniversary of Pasay City, which recognized the top taxpayers for both the business and real property taxes categories.

Through the awards, Pasay said it recognized the unwavering support and contribution of the sector to its development “into a city of good governance and better opportunities.”

“Your presence and help are vital in attaining our goal of becoming an

eco-city. As we are partners in public service, our strong bond and partnership is necessary in our next chapter,” Pasay City Mayor Imelda Calixto-Rubiano said during her speech at the awarding ceremony.

SM Development Corp. topped the business taxes category while The SM Store clinched the third spot. Meanwhile, SM Prime Holdings Inc., Super Shopping Market Inc. and SM Investments Corp. ranked sixth, eighth and ninth, respectively.

For the real property taxes category, SM Prime, placed first while SMDC, Shoemart Inc., (SM Land Inc.) and SM Retail notched the third, sixth and seventh spots, respectively. VG Cabuag

Entrepreneur

‘Women-led start-ups sorely lack funding’

WOMEN entrepreneurs are underserved of investment opportunities, according to the latest Gender Lens Investing Series—The Bottom Line: Why Investing in Women is Good Business—of the Manila Angel Investors Network, the country’s premier private investors network.

“With less than 3 percent of the global venture capital funds going to women-led start-ups, there is an untapped investing opportunity for angel investors and venture capitalists,” Tinna Di Cicco, MAIN’s Gender Lens Investing Committee chairperson, said.

Women-led start-ups are those with female founders or its leadership comprise majority of women.

In the Philippines, only one out of four small and medium enterprises are owned by women, according to the report of MAIN’s partner, Investing in Women, an Australian Government initiative to catalyze women’s economic empowerment in Southeast Asia.

“We have to recognize that women-led start-ups can also deliver economic returns,” Di Cicco said.

“Investors are missing out on investible deals. Gender understanding leads to better investment decisions,” Dr. Julia Newton-Howes, CEO of Investing in Women, said.

“Women account for half the suppliers, customers and talentpool. Investing in women is not only good for business, but it is the right thing to do,” Julia Abad, executive director of the Philippine Business Coalition for Women Empowerment, said.

Admittedly, however, Jose Paolo Delgado, President and CEO of Delbros Group, said efforts to promote gender equality in investing is still in the early stages of building up awareness and engagement.

In the current fiscal year, MAIN has invested 50 percent of its allotted capital to women-led start-ups. In the coming years, the network is seeking to invest more than half of their start-up investment portfolio to women entrepreneurs.

“We actively seek out women-led startups and look at their business case and provide them with coaching and guidance for their pitches. We have a mentoring team comprising MAIN’s business leaders from across various industries to help them gain more investment opportunities,” Di Cicco said.

Out of 117 high-net-worth members, MAIN has 22 women angel investors and 11 dedicated mentors. The network has so far invested in 10 women-led startups.

MAIN’s GLI Series is made possible in partnership with Investing in Women. Investing in Women uses innovative approaches to improve women’s economic participation as employees and as entrepreneurs in the Philippines, Indonesia, Vietnam, and Myanmar through workplace gender equality, impact investment for SMEs and influencing gender norms to positively shift attitudes and practices to support women in the world of work.

If you are a post-MVP startup looking for investment from MAIN, submit your pitch deck to pitch@main.ph for their Screening Committee’s review.

If you want to diversify your portfolio to include angel investing, reach out to invest@main.ph and become part of the Philippines’ largest and most active angel network.

To know more about MAIN’s schedule of GLI Series, visit: https://www.facebook.com/mainph

Construction biz heir builds own promising food service empire

By Roderick L. Abad @rodrik_28 Contributor

ESTABLISHED family businesses are typically passed on from one generation to the next. In a very tight-knit Filipino setup, stories on descendants of well-known business clans who became successful in their own rights are very rare. Ryan Jay Dimapilis, chef and president of Balai Palmera Restaurant and Pasalubong Center, is among these rarities.

Coming from a family with esteemed backgrounds in construction, property development and brokerage, the son of Mr. Reynaldo and Mrs. Josefina Dimapilis, has already shown keen interest and inclination in entrepreneurship at a very young age—thanks to his grandmother’s fruit market stall at a local community market, where he spent most of his childhood days learning the ropes of selling goods.

The young man from Silang, Cavite got his inspiration from this experience to take up Business Administration Major in Business Management during his college years. His being persistent and goal-getter, complemented by sheer determination and perseverance, led him to venture into several business franchises, far from the industry his family belongs.

Luckily, his parents and siblings were supportive of his foray to enter the franchising world after finishing his studies. Initially, he acquired a franchise of one of the country’s top dumpling businesses. This led to establishing his own computer shop and digital printing company. Then, he owned other franchise businesses of water station and laundry shop.

“I came to a point in my life, where I thought I should keep grabbing all the opportunities to grow fast, until one day, I realized, I’m making a big mistake. Instead of hurrying to achieve more, I should have just focused on one thing, not just

for growth, but also for learning…,” Ryan recalled.

Twist of fate

CONFRONTED by numerous challenges, it thought him a handful of lessons in life. With so much on his plate, he was clueless that he was just about to see the beginning of his life-long journey.

“It was November 2015 when I bravely joined the HMR Philippines Cook-Off Contest. That was the first culinary contest I joined. I have no professional background in cooking then, and submitting my version of Adobong Bukid ng Silang was a long shot. To my surprise, I won third place and this winning gave me that light-bulb moment that eventually led me to culinary school,” he shared.

With his risk-taking and impulsive attitude to take a leap of faith to enroll, this started him to hone a hidden talent and gain confidence to pursue his newfound passion in the food business. So came 2016, he finalized his concept for T-Bone King Steak and Grill. As a headstart, it was doing well pre-pandemic with four branches in Ayala Malls Serin, Ayala Malls Cloverleaf, Ayala Malls Uptown and Robinsons Lipa.

”Unfortunately, we have to close two of our branches during the height of the pandemic to keep the business afloat. Come 2021, with the easing of quarantine protocols, the strong demand came back, which led us to open more branches,” Ryan noted.

T-Bone King Steak and Grill is now a popular steak destination in the south of Metro Manila, offering “good food in a good place for good friends.” It is known for using local produce from Batangas as well as in-demand meat products from the United States and Australia.

Passing the baton WHILE still pushing his own dream, he goes back to his core. Following the unprecedented success of T-Bone King Steak & Grill, he got surprised by his family entrusting him another project—this time to continue the development and expansion of the Farm Hills Garden Events & Catering owned by the Dimapilises.

According to him, it was a mere small concept among their family and friends that became “a beautiful and lush haven for bridal events.”

Ryan said: “This is the fruit of our family’s collective efforts and ideas given our vast backgrounds. We initially just want to provide an alternative wedding venue, which started when my sibling got married in January 2017. In just a few years, this has become one of the soughtafter events places as well as a bed and breakfast for metro dwellers who are seeking reprieve from being locked down in Metro Manila for many months due to the pandemic.”

This private enclave in their town offers spacious and relaxing rooms ideal for couples, families and groups. With amenities such as a café, restaurant, game room, and swimming pool, it marries fun and relaxation amidst aesthetic flora that encapsulates Silang’s natural beauty and allure.

“We’re looking forward to more

exciting developments in Farm Hills Garden with the addition of more villas as well as a bigger pavilion that could cater to around 200 to 300 people for special life events,” he added.

They have also opened Attique de Bella, a café seated at its topmost location. Customers get to enjoy its Parisian vibe, chic interior and French-inspired menu made perfect with the lush view and cool breeze of their town. “With so much demand for aesthetic interiors among the younger generation, we envisioned Attique de Bella as the perfect place for those trendy occasions may it be with family, friends, or special someone. Attique de Bella is also one of those projects that we never planned to have but it happened, and we’re delighted to see the amazing support from its guests,” he expounded.

Asian kick

THE success of his French-inspired project kicked off Ryan’s another food entity, Ryoukai. Leveraging on one of Asia’s famous cuisines, this restaurant boasts of Japan’s most comforting and well-loved dishes. This Japanese bistro has already gained a big following for its flavorful and filling Tantanmen at its two branches in his place of origin—first in Bypass Road Silang and second in Silang-Santa Rosa Road.

“Ryoukai, which translates to ‘I got it!’ or ‘I understand’ is my affirmative approach to all the blessings that I’ve been receiving since I took this path five years ago. The unexpected growth of my ideas has been tremendously overwhelming, but this won’t stop me from giving my best and offering more to our

people,” he said.

Going back to his roots

CATERING to universal palate seemed to have work for Ryan’s entry to the food scene. But this does not have hindered his desire to follow his own taste. The restaurateur’s move to put up a food place to accommodate his kababayans came to fruition when the pandemic hit.

While most businesses were forced to shut down at the height of Covid-19, he got the idea of providing food delivery within the Silang and Tagaytay area so as not affect the livelihood of his employees. And what a better way to feed Filipinos stuck at home during the lockdown periods was by the comfort of their very own food.

Because home is where the heart—and stomach—is, he opened up a 5,000-square-meter space after a few months and turned into what is called now Balai Palmera Restaurant and Pasalubong Center.

“We all know how the pandemic challenged all of us. While we continue to keep everyone safe in our business, I also want to make sure that they’ll have something to feed their families. The creation of Balai Palmera is indeed another blessing because this doesn’t just help us keep our employees but it also gave birth to new Pinoy favorites that I’m sure everyone will love,” he added.

With its refreshing take on Filipino food topped with impeccable local service, it always makes sure that each customer receives a warm and pleasant hospitality and memorable experience. While it only has one branch for now, the Pasalubong Center has two outlets already in Silang that sells Balai’s version of Pinoy’s favorite Buko Pie.

“I just want every restaurant and business that I open to radiate the positivity of life that I have experienced these past years. I’m a firm believer that it’s important to establish a happy environment not just for our customers but also for our employees. I hope that whenever our guests visit T-Bone Steak & Grill, Ryoukai, Balai Palmera, Attique de Bella, and Farm Hills Garden, they would feel and enjoy the blessings that I’m bestowing on our staff and employees even just for a moment of their stay with us,” Ryan stressed.

Start-up grantees present social ventures at networking event

EIGHT women-led social enterprises (SEs) that received start-up grants from the Department of Science and Technology (DOST) marked the end of their 10-month start-up incubation with a networking event dubbed “Tens of Nets: The WHWise - iBLEnDNICE 4 WomEn Networking Days.”

Held on December 6 and 7 at Miriam College-Henry Sy Sr. Innovation Center in Quezon City, the event is a dedicated networking and project demonstration days for the eight women social entrepreneurs who have successfully scaled or are in the process of scaling up their enterprises in the areas of agriculture, wellness, nutrition, job placement/ matching, film and technology.

“Tens of Nets will give women entrepreneurs the opportunity to present their products to the online market, share their knowledge and experiences about social enterprises, as well as network with other invited social entrepreneurs from the Philippine start-up ecosystem,” said Engr. Ninaliza Escorial, deputy executive director of the DOST- Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST- PCIEERD), during the event opening.

Tens of Nets, a palindrome in reference to the exponential power

of networking, is supported under DOST’s “Women Helping Women Innovating Social Enterprises: innovation thru Building and Leveraging Entrepreneurship Development, Networking and Inclusive Community Engagement Program for Women Entrepreneurs” also known as WHWISE:iBLenDNICE 4 WomEn program.

The eight women-led start-ups, namely, Eduksine, Ofamen Cacao Farms, Planstville Health, Actions Hub, Husay.Co, Virtualahan, Empath, and Ato Ani all belong to the first cohort of women-led start-ups that have each received between P2

million to P5 million in grant from the WHWise program of PCIEERD, a council under DOST. These start-ups were chosen based on their venture’s technical and commercial viability and on their social and/or environmental impact that translates to job generation for communities.

Breaking gender biases

A PART from funding, WHWise provided the eight women entrepreneurs a gender-focused support in the different aspects of their start-up’s incubation from mentoring, capacitybuilding, marketing, and market validation to prepare them in scaling

their start-ups and allow them to take greater risks without barriers.

“The program is one huge effort to address women’s participation, in particular women-led social enterprises, to the economic development of our country,” said Dr. Jinky Bornales, project leader of the iBLenDNICE 4 WomEn Incubation Team.

“We shall witness eight women entrepreneurs who are ready to take part in building a more sustainable innovation ecosystem in our country, thus bringing more positive impact to their respective communities,” she added.

DOST has partnered with three academic institutions that served as Technology Business Incubators (TBI) for all eight start-ups namely, iDEYA run by Mindanao State University-Iligan Institute of Technology, Miriam College-TBI run by Miriam College, and UPGRADE InnoLab Inc. run by the University of the Philippines-Mindanao.

DOST is keen on equalizing technology-based start-up opportunities between men and women, where only 22 percent are women-led, according to PCIEERD. It also aims to address gender-based biases that women entrepreneurs experience on the ground examples of which include stereotyped jobs for women, social expectations and barriers from wom-

en with families, a prevalent “Bro Culture” that is low-key present in venture capital circles and barriers in communication in male dominated organizations and/or with mentors.

Organized by Miriam College, Tens of Nets was highlighted by booth exhibits, memorandum of agreement signing, sharing sessions on the entrepreneurial journey of the eight women social entrepreneurs, pitch sessions and a special talk on the professionalization of social enterprises in the Philippines.

Among the speakers at the event were Undersecretary Rafaelita Aldaba of the Department of Trade and Industry, PCIEERD Technology Transfer and Commercialization Division Chief Russel Pili, Miriam College President Laura Quiambao-Del Rosario, Miriam College Innovation Resource Manager Ma. Cristina Ibañez, Villgro PH CEO and Co-founder Priya Tachadi, Ella Camille of Social Enterprise Academy, Carlo Sagun of Bayan Innovation Group, Pinky Yee of Pure Essentials Corp., and Anna Marie Periquet of Metro Retail Stores Group.

The second cohort of women-led social enterprises will begin their start-up incubation in 2023. Every year, the WHWise program will identify 10 women social entrepreneurs for incubation and funding support.

DIMAPILIS (extreme left) poses with his staff for posterity at the T-Bone King Steak and Grill along Aguinaldo Highway in Silang, Cavite. Contributed photo

STArT-uP women founders and DOST-WHWise grantees Karen Jane Sulatan of Eduksine and Steph Naval of Empath (seated) seal their partnership during the “Tens of Nets” networking event held recently at Miriam College-Henry Sy Sr. Innovation Center. Looking on are representatives from the three Technical Business Incubators run by Miriam College, Mindanao State university, and uP Mindanao. Contributed photo

Entrepreneur

‘Women-led start-ups sorely lack funding’

WOMEN entrepreneurs are underserved of investment opportunities, according to the latest Gender Lens Investing Series—The Bottom Line: Why Investing in Women is Good Business—of the Manila Angel Investors Network, the country’s premier private investors network.

“With less than 3 percent of the global venture capital funds going to women-led start-ups, there is an untapped investing opportunity for angel investors and venture capitalists,” Tinna Di Cicco, MAIN’s Gender Lens Investing Committee chairperson, said.

Women-led start-ups are those with female founders or its leadership comprise majority of women.

In the Philippines, only one out of four small and medium enterprises are owned by women, according to the report of MAIN’s partner, Investing in Women, an Australian Government initiative to catalyze women’s economic empowerment in Southeast Asia.

“We have to recognize that women-led start-ups can also deliver economic returns,” Di Cicco said.

“Investors are missing out on investible deals. Gender understanding leads to better investment decisions,” Dr. Julia Newton-Howes, CEO of Investing in Women, said.

“Women account for half the suppliers, customers and talentpool. Investing in women is not only good for business, but it is the right thing to do,” Julia Abad, executive director of the Philippine Business Coalition for Women Empowerment, said.

Admittedly, however, Jose Paolo Delgado, President and CEO of Delbros Group, said efforts to promote gender equality in investing is still in the early stages of building up awareness and engagement.

In the current fiscal year, MAIN has invested 50 percent of its allotted capital to women-led start-ups. In the coming years, the network is seeking to invest more than half of their start-up investment portfolio to women entrepreneurs.

“We actively seek out women-led startups and look at their business case and provide them with coaching and guidance for their pitches. We have a mentoring team comprising MAIN’s business leaders from across various industries to help them gain more investment opportunities,” Di Cicco said.

Out of 117 high-net-worth members, MAIN has 22 women angel investors and 11 dedicated mentors. The network has so far invested in 10 women-led startups.

MAIN’s GLI Series is made possible in partnership with Investing in Women. Investing in Women uses innovative approaches to improve women’s economic participation as employees and as entrepreneurs in the Philippines, Indonesia, Vietnam, and Myanmar through workplace gender equality, impact investment for SMEs and influencing gender norms to positively shift attitudes and practices to support women in the world of work.

If you are a post-MVP startup looking for investment from MAIN, submit your pitch deck to pitch@main.ph for their Screening Committee’s review.

If you want to diversify your portfolio to include angel investing, reach out to invest@main.ph and become part of the Philippines’ largest and most active angel network.

To know more about MAIN’s schedule of GLI Series, visit: https://www.facebook.com/mainph

Construction biz heir builds own promising food service empire

By Roderick L. Abad @rodrik_28 Contributor

ESTABLISHED family businesses are typically passed on from one generation to the next. In a very tight-knit Filipino setup, stories on descendants of well-known business clans who became successful in their own rights are very rare. Ryan Jay Dimapilis, chef and president of Balai Palmera Restaurant and Pasalubong Center, is among these rarities.

Coming from a family with esteemed backgrounds in construction, property development and brokerage, the son of Mr. Reynaldo and Mrs. Josefina Dimapilis, has already shown keen interest and inclination in entrepreneurship at a very young age—thanks to his grandmother’s fruit market stall at a local community market, where he spent most of his childhood days learning the ropes of selling goods.

The young man from Silang, Cavite got his inspiration from this experience to take up Business Administration Major in Business Management during his college years. His being persistent and goal-getter, complemented by sheer determination and perseverance, led him to venture into several business franchises, far from the industry his family belongs.

Luckily, his parents and siblings were supportive of his foray to enter the franchising world after finishing his studies. Initially, he acquired a franchise of one of the country’s top dumpling businesses. This led to establishing his own computer shop and digital printing company. Then, he owned other franchise businesses of water station and laundry shop.

“I came to a point in my life, where I thought I should keep grabbing all the opportunities to grow fast, until one day, I realized, I’m making a big mistake. Instead of hurrying to achieve more, I should have just focused on one thing, not just

for growth, but also for learning…,” Ryan recalled.

Twist of fate

CONFRONTED by numerous challenges, it thought him a handful of lessons in life. With so much on his plate, he was clueless that he was just about to see the beginning of his life-long journey.

“It was November 2015 when I bravely joined the HMR Philippines Cook-Off Contest. That was the first culinary contest I joined. I have no professional background in cooking then, and submitting my version of Adobong Bukid ng Silang was a long shot. To my surprise, I won third place and this winning gave me that light-bulb moment that eventually led me to culinary school,” he shared.

With his risk-taking and impulsive attitude to take a leap of faith to enroll, this started him to hone a hidden talent and gain confidence to pursue his newfound passion in the food business. So came 2016, he finalized his concept for T-Bone King Steak and Grill. As a headstart, it was doing well pre-pandemic with four branches in Ayala Malls Serin, Ayala Malls Cloverleaf, Ayala Malls Uptown and Robinsons Lipa.

”Unfortunately, we have to close two of our branches during the height of the pandemic to keep the business afloat. Come 2021, with the easing of quarantine protocols, the strong demand came back, which led us to open more branches,” Ryan noted.

T-Bone King Steak and Grill is now a popular steak destination in the south of Metro Manila, offering “good food in a good place for good friends.” It is known for using local produce from Batangas as well as in-demand meat products from the United States and Australia.

Passing the baton WHILE still pushing his own dream, he goes back to his core. Following the unprecedented success of T-Bone King Steak & Grill, he got surprised by his family entrusting him another project—this time to continue the development and expansion of the Farm Hills Garden Events & Catering owned by the Dimapilises.

According to him, it was a mere small concept among their family and friends that became “a beautiful and lush haven for bridal events.”

Ryan said: “This is the fruit of our family’s collective efforts and ideas given our vast backgrounds. We initially just want to provide an alternative wedding venue, which started when my sibling got married in January 2017. In just a few years, this has become one of the soughtafter events places as well as a bed and breakfast for metro dwellers who are seeking reprieve from being locked down in Metro Manila for many months due to the pandemic.”

This private enclave in their town offers spacious and relaxing rooms ideal for couples, families and groups. With amenities such as a café, restaurant, game room, and swimming pool, it marries fun and relaxation amidst aesthetic flora that encapsulates Silang’s natural beauty and allure.

“We’re looking forward to more

exciting developments in Farm Hills Garden with the addition of more villas as well as a bigger pavilion that could cater to around 200 to 300 people for special life events,” he added.

They have also opened Attique de Bella, a café seated at its topmost location. Customers get to enjoy its Parisian vibe, chic interior and French-inspired menu made perfect with the lush view and cool breeze of their town. “With so much demand for aesthetic interiors among the younger generation, we envisioned Attique de Bella as the perfect place for those trendy occasions may it be with family, friends, or special someone. Attique de Bella is also one of those projects that we never planned to have but it happened, and we’re delighted to see the amazing support from its guests,” he expounded.

Asian kick

THE success of his French-inspired project kicked off Ryan’s another food entity, Ryoukai. Leveraging on one of Asia’s famous cuisines, this restaurant boasts of Japan’s most comforting and well-loved dishes. This Japanese bistro has already gained a big following for its flavorful and filling Tantanmen at its two branches in his place of origin—first in Bypass Road Silang and second in Silang-Santa Rosa Road.

“Ryoukai, which translates to ‘I got it!’ or ‘I understand’ is my affirmative approach to all the blessings that I’ve been receiving since I took this path five years ago. The unexpected growth of my ideas has been tremendously overwhelming, but this won’t stop me from giving my best and offering more to our

people,” he said.

Going back to his roots

CATERING to universal palate seemed to have work for Ryan’s entry to the food scene. But this does not have hindered his desire to follow his own taste. The restaurateur’s move to put up a food place to accommodate his kababayans came to fruition when the pandemic hit.

While most businesses were forced to shut down at the height of Covid-19, he got the idea of providing food delivery within the Silang and Tagaytay area so as not affect the livelihood of his employees. And what a better way to feed Filipinos stuck at home during the lockdown periods was by the comfort of their very own food.

Because home is where the heart—and stomach—is, he opened up a 5,000-square-meter space after a few months and turned into what is called now Balai Palmera Restaurant and Pasalubong Center.

“We all know how the pandemic challenged all of us. While we continue to keep everyone safe in our business, I also want to make sure that they’ll have something to feed their families. The creation of Balai Palmera is indeed another blessing because this doesn’t just help us keep our employees but it also gave birth to new Pinoy favorites that I’m sure everyone will love,” he added.

With its refreshing take on Filipino food topped with impeccable local service, it always makes sure that each customer receives a warm and pleasant hospitality and memorable experience. While it only has one branch for now, the Pasalubong Center has two outlets already in Silang that sells Balai’s version of Pinoy’s favorite Buko Pie.

“I just want every restaurant and business that I open to radiate the positivity of life that I have experienced these past years. I’m a firm believer that it’s important to establish a happy environment not just for our customers but also for our employees. I hope that whenever our guests visit T-Bone Steak & Grill, Ryoukai, Balai Palmera, Attique de Bella, and Farm Hills Garden, they would feel and enjoy the blessings that I’m bestowing on our staff and employees even just for a moment of their stay with us,” Ryan stressed.

Start-up grantees present social ventures at networking event

EIGHT women-led social enterprises (SEs) that received start-up grants from the Department of Science and Technology (DOST) marked the end of their 10-month start-up incubation with a networking event dubbed “Tens of Nets: The WHWise - iBLEnDNICE 4 WomEn Networking Days.”

Held on December 6 and 7 at Miriam College-Henry Sy Sr. Innovation Center in Quezon City, the event is a dedicated networking and project demonstration days for the eight women social entrepreneurs who have successfully scaled or are in the process of scaling up their enterprises in the areas of agriculture, wellness, nutrition, job placement/ matching, film and technology.

“Tens of Nets will give women entrepreneurs the opportunity to present their products to the online market, share their knowledge and experiences about social enterprises, as well as network with other invited social entrepreneurs from the Philippine start-up ecosystem,” said Engr. Ninaliza Escorial, deputy executive director of the DOST- Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST- PCIEERD), during the event opening.

Tens of Nets, a palindrome in reference to the exponential power

of networking, is supported under DOST’s “Women Helping Women Innovating Social Enterprises: innovation thru Building and Leveraging Entrepreneurship Development, Networking and Inclusive Community Engagement Program for Women Entrepreneurs” also known as WHWISE:iBLenDNICE 4 WomEn program.

The eight women-led start-ups, namely, Eduksine, Ofamen Cacao Farms, Planstville Health, Actions Hub, Husay.Co, Virtualahan, Empath, and Ato Ani all belong to the first cohort of women-led start-ups that have each received between P2

million to P5 million in grant from the WHWise program of PCIEERD, a council under DOST. These start-ups were chosen based on their venture’s technical and commercial viability and on their social and/or environmental impact that translates to job generation for communities.

Breaking gender biases

A PART from funding, WHWise provided the eight women entrepreneurs a gender-focused support in the different aspects of their start-up’s incubation from mentoring, capacitybuilding, marketing, and market validation to prepare them in scaling

their start-ups and allow them to take greater risks without barriers.

“The program is one huge effort to address women’s participation, in particular women-led social enterprises, to the economic development of our country,” said Dr. Jinky Bornales, project leader of the iBLenDNICE 4 WomEn Incubation Team.

“We shall witness eight women entrepreneurs who are ready to take part in building a more sustainable innovation ecosystem in our country, thus bringing more positive impact to their respective communities,” she added.

DOST has partnered with three academic institutions that served as Technology Business Incubators (TBI) for all eight start-ups namely, iDEYA run by Mindanao State University-Iligan Institute of Technology, Miriam College-TBI run by Miriam College, and UPGRADE InnoLab Inc. run by the University of the Philippines-Mindanao.

DOST is keen on equalizing technology-based start-up opportunities between men and women, where only 22 percent are women-led, according to PCIEERD. It also aims to address gender-based biases that women entrepreneurs experience on the ground examples of which include stereotyped jobs for women, social expectations and barriers from wom-

en with families, a prevalent “Bro Culture” that is low-key present in venture capital circles and barriers in communication in male dominated organizations and/or with mentors.

Organized by Miriam College, Tens of Nets was highlighted by booth exhibits, memorandum of agreement signing, sharing sessions on the entrepreneurial journey of the eight women social entrepreneurs, pitch sessions and a special talk on the professionalization of social enterprises in the Philippines.

Among the speakers at the event were Undersecretary Rafaelita Aldaba of the Department of Trade and Industry, PCIEERD Technology Transfer and Commercialization Division Chief Russel Pili, Miriam College President Laura Quiambao-Del Rosario, Miriam College Innovation Resource Manager Ma. Cristina Ibañez, Villgro PH CEO and Co-founder Priya Tachadi, Ella Camille of Social Enterprise Academy, Carlo Sagun of Bayan Innovation Group, Pinky Yee of Pure Essentials Corp., and Anna Marie Periquet of Metro Retail Stores Group.

The second cohort of women-led social enterprises will begin their start-up incubation in 2023. Every year, the WHWise program will identify 10 women social entrepreneurs for incubation and funding support.

DIMAPILIS (extreme left) poses with his staff for posterity at the T-Bone King Steak and Grill along Aguinaldo Highway in Silang, Cavite. Contributed photo

STArT-uP women founders and DOST-WHWise grantees Karen Jane Sulatan of Eduksine and Steph Naval of Empath (seated) seal their partnership during the “Tens of Nets” networking event held recently at Miriam College-Henry Sy Sr. Innovation Center. Looking on are representatives from the three Technical Business Incubators run by Miriam College, Mindanao State university, and uP Mindanao. Contributed photo

Shifting gears in midlife

By Jay L. Zagorsky Boston University

GIFT-GIVERS hoping to splurge this holiday season despite the pinch of high inflation have an easy option: buy now, pay later.

An ever-growing number of financial companies and apps are offering consumers what are essentially small, short-term loans that combine instant gratification with interest- and fee-free payments spread out in the new year.

As an economist who studies holiday spending, I became intrigued with buy now, pay later plans while researching a book on the transition to a cashless society. I only heard about them in the past two or so years, but now many of my students are considering using the plans to buy holiday gifts. I wondered, are these offers too good to be true?

‘TIS THE SEASON

CONSUMER spending surges around the holidays as many people buy gifts for their loved ones, often to put under a Christmas tree.

This year, US consumers are expected to spend nearly $1 trillion—which would be a record amount— in November and December. That typically amounts to about 25 percent of all retail sales during the year as consumers increase their spending. Per person, that averages to about $830.

In the old days, before credit cards, consumers had few options to account for this surge in holiday spending—beyond simply setting aside personal savings. Some banks offered so-called Christmas savings clubs, in which customers could make automatic deposits throughout the year that they could use for gifts at the end. To ensure accounts were not raided early, there were financial penalties for early withdrawals. These penalties were then distributed to people who waited longer for their savings.

BUY NOW...

BUY now, pay later plans would seem to offer the best of both worlds: the ability to buy something immediately but without any cost—as long as you make payments on time.

Even better, many companies say they don’t check credit bureaus to decide who gets to participate in these plans, instead using their own algorithms to determine who might be a credit risk.

The general idea is simple: When you see something to purchase, you pay 25 percent immediately, then make three more payments every two weeks. In six weeks, the purchase is paid off.

Given these companies charge no interest and no fees, how do they make money?

Two ways: They typically charge merchants a percentage of every purchase, and customers who are unable to complete their payments on time pay late fees.

PAY MORE LATER?

THERE are several downsides to buy now, pay later schemes.

One is that they can cause consumers to become overextended and spend more than they can fundamentally afford. One reason is the ease of signing up for these loans, which may take only a few clicks. A second is that the price may seem lower than it actually is because users may only see the perpayment rather than the total cost of the item.

Another problem is these payment plans are not very forgiving when people get into financial trouble. About 90 percent of these loans are tied to a debit card, which means the payments are automatically deducted from the borrower’s bank account. So when someone misses a payment, it’s likely because there were insufficient funds in their account. Besides the late fee, these borrowers will also end up getting charged an overdraft fee. As a result, research has found that new users of buy now, pay later loans experience a rapid increase in overdraft charges.

While gift-giving over the holidays is an important part of the season, my advice is to be careful when taking advantage of these buy now, pay later loans. Don’t overextend yourself financially. If you are thinking about taking one of these loans, make sure you can really afford the payments.

Giving a gift that makes someone else happy but ruins your financial life is not a great trade-off.

THE CONVERSATION

THERE are people who become dead set on a career path as early as high school, perhaps even earlier. And then there are people who discover their passion and purpose in life at a later time. Maybe that is the reason why some people say that life begins at 40—because at that age you no longer care about what other people would say, and you become focused on what you really want, including what you do for a living.

In midlife, most people think that you should be established already, and that you are supposed to be planning for retirement in the next few years. But life does not always put us in neat little boxes. Sometimes events, people and technological changes push you to rethink your choices in life, evaluate where you are, and ultimately shift careers. There are also times when people just suddenly realize they are not where they want to be and decide to pursue a different career path. Whatever the reason, it is never too late for you to start anew in another career because there is still time to pursue what makes you feel fulfilled. And while that path may be riddled with doubts and challenges, you know you would regret it if you did not at least give it a try.

Before shifting careers, you need to know exactly why you want to do it. There are several reasons why you would think you need to change careers. These include a toxic work environment, a demanding boss, or a general dissatisfaction with where your career is going. Just make sure that you are changing careers to further your personal goals. There are times when a lateral transfer or a change in organization will help you appreciate your own profession. But if these still fail, find the root cause of your dissatisfaction.

Many people go through a midlife crisis because they arrive at a better appreciation of what they are capable of and what they really want out of their life, which conversely leads them to question their life choices, including their choice of career. So, when you are thinking of changing careers, you need to make sure you know why you are doing so and not just because you want to.

Now that you are sure that you really want to shift careers, discover what you really want to do. Experiment and try different things to see what you really want to do for work.

Mark Twain once said, “Find a job you enjoy doing, and you will never have to work a day in your life.”

This might be scary when you are in your midlife, but you need to understand that you already have so many skills and abilities that you can use for whatever work you choose. To help you, start with your hobbies and the activities you enjoy doing. These can provide insights into what kind of work fits your personality and skills set.

Once you have discovered something you like, read more about it. If possible, interview people and get to know more about their work by observing them.

Or, you can just go right in and try it out yourself. By immersing yourself in the new work, you get a feel of what it would be like and you can make an informed decision on whether to pursue it or not. This will also help you get an overall picture of how it would be when you change careers.

To help make your career shift a little smoother, list your existing skills and look at how they can be used in your new work. A lot of people do not know

this but there are so many skills that cut across industries like communicating effectively, managing people, collaborating with different departments, and analytical skills, to name a few. List down what you are good at and identify how you can use those skills in the new work.

You will also discover that there might be some new skills you need to learn to transition effectively into your new career. If needed, take online courses to upskill yourself; if possible, enroll in courses to learn the knowledge and skills you need to be successful in your new work. Once you find your footing, open yourself to opportunities that will challenge and enhance your knowledge and skills to hasten your learning curve. There are industries that require certain certifications and examinations to be part of the workforce, so you need to understand the technical requirements and required experience to be part of their workforce.

As with any venture, prepare for the challenges ahead. The new role will tax not only your own resources but also the people around you. Let them know how it will affect them, especially if you will be needing their financial and emotional support. Starting anew is difficult and you need all the help you can get to be successful. Make sure they understand

what they need to do to support your career shift, and they are willing to provide help when needed. If you have a family to support, make sure every member understands how the career transition will affect them, and the steps the family might have to take to mitigate the adverse effects.

Once you start in the new career, focus on what you want to achieve and relentlessly pursue it. Some people do not successfully transition because they are too caught up in their previous career that they spend more time doubting themselves than putting in the time and effort to equip themselves for their new role. Do not second guess yourself and do whatever it takes to succeed. Find yourself a mentor so you can quickly learn how to navigate through the new work and guide you on what you need to avoid.

It is never too late to pursue a new career even if you are in your midlife. There might not have been an opportunity before to pursue what you wanted because of several reasons. But now that you have the capacity and resources to do so, you have the choice to pursue what you want and wherever you want to go. And even if you do not have these, you can always create opportunities to pursue your dream job because the last thing you need is to regret not having done everything you could to achieve it. n

Paper packaging design competition reveals innovative creations

PRODUCER of premium eco-friendly specialty paper, Fedrigoni Paper and Prestige Paper Products recently tapped La Salle Green Hills (LSGH) and the De La Salle-College of Saint Benilde (DLS-CSB) for a structural paper-packaging competition.

Themed “Be Beautiful Inside and Out,” the contest challenged the institutions’ young student-artists to create eye-catching packaging for varied cosmetics, such as perfume bottles and make-up sets, or food containers that immediately portray the brand’s story and product context.

Prior to the event, the apprentices were toured around the facilities and laboratories of the Benilde Industrial Design Program. They were likewise introduced to the fundamentals and techniques of packaging design through a crash course and workshop facilitated by Industrial Designer and educator Christian Pagulayan, MFAD.

The entries were evaluated based on the originality, reproducibility and credibility of the design, as well as its global approach on aesthetics, user-friendly functionality, and interaction between product and user.

concept, materials, use and reuse, sustainability and distribution, were also examined.

The proposals must likewise address a problem using an innovative approach on its creation or

application.

“Lunar Regolith,” a lunar rock-inspired packaging for men’s perfume, was hailed as the winner. Kenji del Rosario focused on design feasibility, as well as ergonomic and sustainable aspects, to depict the stateof-the-art capsules seen in sci-fi films.

Emilio Rufus Bunani and Maxine Ivory Dollente were announced second and third place winners, respectively.

Bunani’s “Umai” celebrated the rich history and long culture of tea in Japan through a traditional Japanese tea house-inspired packaging for matcha. The prototype came in a strategic die cut mold with angled flap design that fostered product-user interaction and decreased carbon footprint.

Dollente’s “Bloom” utilized premium paper products to create a flower origami. Veering away from the classic floral-printed boxes, her design allowed the ladies to gently pull the leaves down to reveal the perfume bottle.

Selected prototypes will be exhibited at the 5th Floor of the Benilde Design and Arts Campus.

More information is available at id.benilde.edu.ph.

Editor:

PHOTO BY ILIYA JOKIC ON UNSPLASH

Buying gifts?

Why ‘buy now, pay later’ could be a dangerous option for many holiday shoppers

SECOND place winner: “Umai” by Benilde Industrial Design student Emilio Rufus Bunani.

Richmonde Hotel Ortigas Celebrates Christmastime in the City with special staycation packages, buffet feasts

SILVER bells will soon be ringing and there’s already that feeling of Christmas in the air. Yes, the most wonderful time of the year is here and Richmonde Hotel Ortigas is celebrating with room accommodations, buffet feasts, and a year-end party to make your holidays merry.

Enjoy a relaxing haven right in the heart of Ortigas Center and get your shopping done at any of the nearby shopping malls or recharge after all the holiday hustle and bustle. Richmonde offers value-formoney holiday room rates for bookings until January 14, 2023 (except December 24 and 31), starting at P3,600 nett (room only) and P4,200 nett (with breakfast for two) for stays from Sunday to Thursday; and P3,800 nett (room only) and P4,400 nett (with breakfast for two) for Friday and Saturday stays.

On Christmas Eve and New Year’s Eve, you can celebrate with a comfortable and convenient city staycation complete with sumptuous buffets and fun activities for an awesome holiday experience at amazing deals. Your Christmas stay on December 24th can come with breakfast buffet for two at P4,500 nett, or breakfast plus Christmas Eve Dinner Buffer for two at P6,500 nett. For your prelude to the new year, December 31 rates start at P4,800 nett with breakfast buffet for two; P6,600 nett with breakfast for two and two tickets to the New Year’s Eve Countdown Party; P7,500 nett with breakfast and New Year’s Eve Dinner Buffet for two; and P8,800 nett to get the full New Year’s Eve package—breakfast buffet, New Year’s Eve Dinner Buffet, and Countdown Party tickets for two.

All in-house guests during the Yuletide season also get 15 percent discount on food & beverage orders from Room

DELUXE Twin Room & Heated Indoor Pool. Rates for holiday stays start at P3,600 nett (weekdays) and P3,800 nett (weekends).

Service, and complimentary access to the holiday happenings in the hotel during the weekends of December like the Christmas Choco Corner where complimentary cups of hot chocolate drink will be served, and Chill at the Pool where you can make a splash at the heated indoor pool and drink free icecold lemonade. A Christmas Day and New Year’s Day Mass will also be held in the hotel’s 3/F function room on December 25 and 31 at 10:30am for the convenience of our Catholic guests.

Invite family and friends to Richmonde Café on Christmas Eve and New Year’s Eve to bond over the dazzling Noche Buena and Media Noche feasts featuring traditional holiday fare like porchetta, paella Valenciana, churros con tsokolate, braised beef brisket, seafood kebab, crème brulee, and many more. The Christmas Eve Dinner Buffet is priced at P1,595 nett and will be served from 6pm to 10pm.

Give 2023 a hearty welcome with the generous gourmet indulgences at the New Year’s Eve Gala Dinner Buffet and glitzy

cocktails at the New Year’s Eve Countdown Party at the hotel lobby. The dinner buffet is priced at P 1,880 nett per person while tickets to the countdown bash are priced at P1,280 nett each, inclusive of three drinks, a cocktail buffet, party favors, a glass of sparkling wine at the countdown, and live band performance. To make it a total celebration to remember, New Year’s Eve Dinner Buffet and Countdown Bundle is available at a special discounted rate of just P2,550 nett.

Recover from a night of partying with the hearty New Year’s Day Breakfast Buffet at Richmonde Café on January 1st from 6am to 10am for P980 nett. Children six to 12 years old get 50 percent off on all buffets while toddlers five years old and below eat for free.

For inquiries, table reservations, and countdown ticket purchases, call (632) 8638-7777, SMS or Viber (63) 917 534 4352, email fbsup@richmondeortigas.com, or message @Richmonde Hotel Ortigas on Facebook and Instagram.

ASSIST partners with Cargill to bolster food security in the PHL by capacitating smallholder corn farmers

GLOBAL crises like the Covid-19 pandemic have disrupted and paralyzed many farming communities, leaving smallholder farmers and agricultural cooperatives struggling to face the steepest challenges to recovery and setting off a snowball effect on the nation’s economic productivity.

In an effort to further support the Philippine agriculture sector, Cargill Philippines is launching the Agri-Sagana Project in Cagayan and Isabela with the Asia Society for Social Improvement and Sustainable Transformation (ASSIST) to capacitate farmers and cooperatives in the corn supply chain to boost agricultural yields, improve their standard of living, and contribute to the country’s food security.

According to the Department of Agriculture (DA), the Philippines has been dealing with the “perfect storm” which it describes as a combination of the Covid-19 pandemic, African Swine Fever, and geopolitical conflicts. This continues to hurt the agricultural sector, causing devastating impacts such as loss of jobs and “shackling” of food supply chains.

President Ferdinand Marcos, Jr. has stressed the urgent need for food security measures, stating that global crises have exposed global food access challenges.

During his visit to the United States in September, President Marcos met with Cargill executives to discuss how to achieve food security and self-sufficiency while also exploring ways to boost agricultural productivity in the Philippines by empowering smallholder farmers.

The marketable corn yield of smallholder farmers is declining over time due to poor farm production investments, inefficient harvesting techniques, and inadequate postharvesting processing infrastructure. Corn farmers are also exposed to unpredictable weather patterns that destroy crops. As a result, according to a Philippine Statistics Authority report, 34.3 percent of corn farmers are poor, which is higher than the national average of 21.6 percent.

“Building a more sustainable, food secure Philippines amid crises can be complex but possible through focused, collaborative, and sustained efforts to improve farmer productivity and increase resilience of value

chains. With our purpose to nourish the world, Cargill is deeply committed to harnessing the power of agriculture, supporting our farmers, and achieving food security for Filipinos,” said Sonny Catacutan, Country President of Cargill Philippines.

In the spirit of sagana, a local term meaning “bountiful,” the Agri-Sagana project’s purpose is to bring bountiful agricultural opportunities to corn farmers located in Cagayan and Isabela through established pathways – training and capacity development initiatives, development of an inclusive business process, and provision of infrastructure support for environmentally-sound agricultural practices.

The Agri-Sagana project seeks to empower 10 cooperatives and 8,000 corn farmers, majority of whom will be female, with the implementation of a Corn Academy and a Virtual Coop Training Hub to develop good agricultural practices, business and financial literacy among participating farmers. Further training will be provided on crop quality management control, specific to Cargill’s requirements, while establishing the contact, connect, collaborate, approach to ensure corn farmers’ increased access to markets.

The project also intends to transform existing post-harvest facilities into enhanced eco-smart post-harvest facilities, with over 500 to 1,000 farmers projected to gain from improved corn quality through the use of sustainable and environmentally-sound drying systems.

“With the Agri-Sagana project, we are excited to connect Filipino corn farmers with the right solutions and opportunities that create farreaching and sustainable impact for their families and communities. We are equally thrilled to partner with ASSIST who shares our commitment to advance farmer livelihood,” said Joseph Liwag, Commercial Leader for Cargill Agricultural Supply Chain Philippines.

Globe

named PH’s

Best Mobile Network Infrastructure Company at Global Business Outlook Awards 2022

LEADING digital solutions platform Globe has been named the Best Mobile Network Infrastructure Company at the annual Global Business Outlook Awards 2022. This recognition follows last year’s award for Most Innovative Telecom.

“We are honored to be given this recognition. At Globe, we continue to invest in our network to provide our customers with superior experience. We are happy that Filipinos have adopted a digital way of life using the platforms and apps we are offering. With advanced technology and continuous network upgrades, our customers will have access to more relevant digital solutions and reliable connectivity wherever they are,” said Globe Group President and CEO Ernest Cu. Globe spent more than P100 billion in capital expenditures this year with its aggressive builds towards a #1stWorldNetwork.

This expansion is in line with Globe’s support for the United Nations Sustainable Development Goals, particularly UN SDG No. 9, which highlights the roles of infrastructure and innovation as crucial drivers of economic growth and development.

By end-September, the company has upgraded 10,600 sites to LTE, deployed 1,887 5G sites nationwide and installed 1.4 million fiber-to-the-home (FTTH) lines.

Recently, Globe unveiled its CAPEX guidance to $1.3 billion in 2023, as network spending is expected to peak at about $1.9 billion this year.

The amount would be trimmed to $1 billion in 2024 after significant spending

over the past two years to take advantage of streamlined processes for deploying infrastructure. Globe is maximizing its fiber builds and leveraging partnerships with tower companies to continue expanding its network footprint and provide best-in-class connectivity to customers.

The Global Business Outlook Awards recognize and reward excellence in businesses around the world. It is designed to facilitate the outstanding work of businesses and business leaders across industries.

It extends to the private and public sectors—again, marking a testament to the work of myriad businesses in terms of performance, innovation and drive to create industry value.

To learn more about Globe, visit www. globe.com.ph.

Puregold Recognized as PHL’s Most Chosen Retailer 2022

PUREGOLD is officially the go-to retail brand for the majority of Filipinos as it was recently awarded as the country’s Most Chosen Retailer in the 2022 based on CRP (Consumer Reach Points) Method which accounts for the number of occasions Filipinos shop for FMCG in-home direct to consumer purchases. The award is presented by Kantar, one of the world’s biggest data analytics companies, that provides analysis and insight into all the relevant trends of Filipino consumers.

In a shopper study conducted, Kantar highlighted that Puregold is able to deliver on what shoppers want most from retailers—value. Value is reflected on prices of goods and promotions that offer value for money. Puregold consistently offers the best prices for grocery goods as it cements itself as a trustworthy supplier for Filipinos.

In addition, Puregold’s impact on consumers was also driven upwards by its accessibility. With over 440 stores nationwide and increasing footprint in the provinces, Puregold squarely fits the trends noticed by Kantar in that Filipinos not only consider goods prices in their retailers, but also their proximity and accessibility.

“As a retailer, we always try to put our customers first,” says Vincent Co, President of Puregold Price Club, Inc. “And it’s always worth celebrating that the Filipino consumers have recognized, and put us first this time.”

The Kantar report also indicated that

World-renowned data analytics group

outside of Puregold, the leading channel source for fast-moving consumer goods (FMCG) still remains to be the local sarisari stores, with 41 percent of Filipinos going to their pop-up stalls. And Puregold believes that the success of sari-sari stores is the success of Puregold as well.

“We take a lot of pride in how thousands of sari-sari stores and small and mediumsized entrepreneurs choose Puregold and our Tindahan ni Aling Puring program as their main partner,” adds Co.

As to what the Kantar Award means to Puregold, Co says that it’s a sign to drive more innovation for the iconic green and gold.

“We’re grateful to Kantar for this recognition,” continues Co. “And we’re even more grateful for every customer, Perks and Aling Puring member who have trusted and supported us along the way. This is an award that couldn’t be possible without those who put their faith in us.”

FROM LEFT TO RIGHT: Francis Macatulad, Executive Director, ASSIST; Paul Vincent Balao, Regional Corn Coordinator, Department of Agriculture Region II; Professor Josie Ong, Director for Extension, Cagayan State University; Dr. Jonathan Nayga, Dean of College of Agriculture, Isabela State University; Joseph Liwag, Commercial Leader, Cargill Agricultural Supply Chain Philippines; and Jennifer Sabianan, Corporate Responsibility Country Lead, Cargill Philippines (Photo: ASSIST)

OUR LADY OF THE MOST HOLY ROSARY CHAPEL AT SM MAKATI. Just in time for Christmas, shoppers at SM Makati can now pray, attend regular services, and Simbang Gabi Masses at the newly dedicated Our Lady Of The Most Holy Rosary Chapel at the third level of SM Makati. This is part of SM’s advocacy to bring the Lord closer to the people. Shown during the blessing are His Eminence Jose F. Cardinal Advincula, Jr. D.D. (center) and Rev. Fr. Reginald Malicdem (left) with SM Investments Corporation (SMIC) Vice Chairman Teresita Sy-Coson (5th from left), SM Markets Chairman Herbert Sy (right), Carol Sy (3rd from Left), Hanna Carina Sy (2nd from left) and Arlene Keh (6th from left). Simbang Gabi Mass schedules are December 15 to 23 at 7:30 PM. Christmas Eve (Dec 24) anticipated Mass at 5:00 PM and Christmas Day Mass at 2:00 PM, 4:00 PM and 6:00 PM.

Kantar awarded Puregold as the country’s Most Chosen Retailer for 2022.

Mall giant to benefit froM revenge shopping and Malling

By Rizal Raoul S. Reyes

For sure, major mall developers like the Sy family-led SM Malls have been benefiting from the loosening of the health protocols.

According to major property management consulting firm Colliers Philippines these titans reported that consumer traffic has now reached between 85 percent and 95 percent of pre-Covid levels in the third quarter of 2022 from only 40 percent a year ago.

“A major contributing factor was the lowering of quarantine protocols due to herd immunity. Since the majority of the population were fully vaccinated already, this has led retailers to take advantage of this trend by expanding their businesses in malls,” explained by Santos Knight Frank in their recent study.

In Q3 2022, Santos Knight Frank said occupancy rates of malls in Metro Manila went up to 96 percent.

Gearing up for 2023 A S f ar as the colossal SM Mall of Asia (MOA) is concerned, it is the place to be for revenge shopping and revenge malling because it has “got it all for you.”

“You can work hard, relax, play, and party harder at the SM MOA Complex and experience a worldclass lifestyle and entertainment destination that provides endless possibilities for any visitor,” said Alexis Ortiga, Vice President for SM Prime Commercial Properties

Group in a press statement. After indulging through a global shopping experience, Ortiga urged guests to take a break in luxurious accommodations, and re-charge by feasting on gastronomic international cuisines, and attend world-class events at the SMX Manila Convention Center.

If you are looking for entertainment options, Ortiga said MOA has a lot to offer—all within the premiere and integrated 67-hectare Complex.

With a glocal (a portmanteau from local and global) design and scenario, Ortiga said the sprawling mixed-use development will appeal to both balikbayans and foreigners alike as it’s strategically located to provide easy access for everyone.

Ortiga said the complex’s massive mall space houses will be perfect for revenge shoppers because SM MOA has the world’s biggest commercial brands known in the retail industry, while also showcasing local enterprises with of -

SHDA backs confirmation of Acuzar’s appointment as housing chief

By Roderick L. Abad

SUBDIVISION and Housing Developers Association (SHDA) has expressed its full support to the confirmation of the appointment of Jose “Jerry” L. Rizalino Acuzar as Secretary of the Department of Human Settlements and Urban Development (DHSUD).

T he Commission on Appointments (CA) panel headed by Sen. Joseph Victor Ejercito approved his ad interim appointment last December 14—the fastest confirmation with less than an hour of deliberation by the 19th Congress.

“SHDA congratulates Secretary Acuzar on the confirmation of his appointment as the head of DHSUD. We strongly b elieve that he can mobilize government resources, lead and muster the participation of national agencies, local government units and the private sector in the at tainment of the goals and objectives of the National Shelter Program to address the housing need and backlog of 6.5 million housing units,” said SHDA National P resident May Rodriguez.

The leading organization of housing developers in the country, likewise, backs up and joins the government’s “Pambansang Pabahay para sa Pilipino Program” ( PPPP) aimed at constructing a projected 1 million houses annually in select areas nationwide to address the lack of dwelling and to sustain a vibrant and productive housing sector.

discussed by Acuzar during the 30th National Developers Convention held by the S HDA last October 5 and 6 in Taguig City.

According to Chairman George Siy, SHDA partners with DHSUD in its advocacies and initiatives to push access and optimum use of land for settlements, sustainable and accessible financing for housing, p eriodic adjustments of the price ceiling for housing, simplification of licensing and permitting process, the extension of incentives for private developers participating in mass housing and the national s helter program, and the implementation of smart, green and resilient housing and communities.

“SHDA has a strong general membership, and the regional chapters are poised a nd ready to support the local shelter program of the various cities and municipalities to enhance the supply of quality and a ffordable housing and promote a more balanced urban and regional development and distribution of population,” he said.

“We support Secretary Acuzar and his vision of providing more accessible and affordable shelters and focusing on inclusive u rban development for the Filipinos. We look forward to continuing working with him as both SHDA and DHSUD collaborate in the many endeavors towards the progress of housing and real estate in the country. We believe that together, we will accomplish many things for the housing industry. We are here to support his programs in any way we can,” added Maya Colayco, first vice president and chairman of SHDA Board.

ferings that compete with international brands.

For home improvement requirements, a shopper needs to go to no one else but the world’s largest IKEA store. If one is searching for upscale shopping, S Maison

and Luxe Duty Free are the places to go for the moneyed shoppers. If someone wants to discover Philippine artistry and craftsmanship, the famous Kultura.

SM MOA consists of four buildings, which means that as a

shopaholic you’ll never run out of things to buy and see! Moreover, Ortiga said foodies will enjoy SM MOA Complex as it also offers a vast selection of outstanding food choices, with hundreds of restaurants covering a multitude of cuisines and a MOA Food Court that will satiate the visitor’s taste buds’ deepest desires.

Stay longer for a staycation Dur I n G t he holiday season, the SM Group has the Conrad Manila Hotel, which can also drive revenge travel to a higher level that serves as an ideal venue for meetings, international conferences and exhibits (MICE) as the hotel’s pillarless Grand Ballroom.

Great entertainment at the complex A F t E r taking a much needed rest at the hotel, Ortiga said a guest

can take a look and experience the beauty of the world-famous Manila Bay sunset.

If a guest wants an adrenalinepumping activity, Ortiga recommends a visitor to check out the Bay Amusement Park, which features the famous SM MOA Eye— a 55-meter-tall ferris wheel that has 36 air-conditioned gondolas and a total maximum capacity of 216 passengers.

For cinema buffs, Ortiga said there’s the SM Cinemas, composed of 11 regular cinemas, three Director’s Club Cinemas, one Event Cinema, or the country’s biggest IMAX t he ater.

If guests want live action, Ortiga said the 20,000 capacity SM Mall of Asia for one big party with the hottest bands. Meanwhile, Ortiga said the SM MOA Complex is also home to the SM Offices’ office buildings—the E-Com Centers, allowing professionals to experience unrivaled work-play synergy.

Brighter things to come in 2023 tOWA r D S t he end of the year, Santos Knight Frank expects for more stores to open due to influx of foot traffic, revenge shopping, and holiday season.

Colliers Philippines associate director for research Joey r o i Bondoc said the retail sector will be vibrant as more local and foreign retailers get physical mall space to seize the opportunity of rising consumer traffic and expected rise in purchasing power.

“Colliers recommends malls reactivate their event spaces or activity centers by organizing events such as trade fairs, exhibits and concerts to attract more mall goers, food and beverage, and clothing retailers. t he y should also consider opening pop-up stores, especially testing the feasibility of the Philippine retail market,” Bondoc explained.

P.A. Properties and Japanese firm Hankyu Hanshin launch new housing project in Laguna

LAG u n A - B ASED p roperty

developer P.A. Alvarez Properties and Development Corporation (P.A. Properties) and Japan’s Hankyu Hanshin r e alty have added yet another successful feat in their list as they formally launched their most recent community today: Idesia Cabuyao. t h is, along with their previous Idesia township projects in Dasmariñas and Lipa, is the offspring of their joint venture.

t he 3.87-hectare modern Asian-inspired community, comprising a total of 276 units, showcases the common theme among the Idesia township projects: an elevated sense of community of the Filipino and the expertise of the Japanese when it comes to quality living.

Each Idesia township project by P.A. Properties and Hankyu Hanshin follow unique motifs for their units. Idesia Cabuyao offers two house designs—the Yama (townhouse units) and the Sora (single-attached units)—for both investors and home buyers.

One common denominator of the Idesia township projects is the consistency of P.A. PropertiesHankyu Hanshin in terms of putting a premium on the well-being of homeowners. Homeowners are assured of a togetherness zone, a serenity zone and a wellness zone.

Idesia Cabuyao has been developed to be a haven for relax -

ation and quality family time. n o t only does it have typical amenities such as the basketball court, clubhouse, indoor fitness gym, swimming pool, and children’s playground, but also meditation gardens, jogging paths, and a pet park which enable all members of the family to have a relaxing and enjoyable stay.

P.A. Properties-Hankyu Hanshin also carefully selected the project’s location, making sure that the families will enjoy the peace and convenience of living in the province without having to sacrifice accessibility, since the community is near several manufacturing establishments, malls, educational institutions, hospitals, and the South Luzon expressway (SLEX). t h is makes

the community ideal not only for prospective homeowners but also for individuals on the lookout for the perfect real estate investment.

P.A. Properties-Hankyu Hanshin wants to assure future buyers and homeowners that despite the prime location, expert architecture, and complete amenities, these homes in Idesia Cabuyao will still cater to low and middleincome families.

“Quality living in a secured and self-sufficient community near Metro Manila need not be expensive. With Idesia Cabuyao, any average-earning Filipino has a fair chance at building a life that they once only dreamed of. Our doors are well open for everyone and we assure you that we will be with you every step of the way,”

r e cently, P.A. Properties also celebrated its 28th anniversary.

From a meager capitalization of 300,000 pesos in 1994, the company has grown into a 23-billionpeso enterprise that is now recognized as one of the top developers in the country.

t h e Pag-IBIG Home Development Mutual Fund (HDMF) even recognized the company as the to p 8 developer in n o rth Luzon, and to p 7 in the n a tional Capital r e gion for Q1-Q3 2022.

For nearly three decades, P.A. Properties has successfully provided affordable homes and built safe and future-proofed communities in growth areas in the country. In this span of time, the company has built more than 20,000 housing and condominium units in over 40 communities in Laguna, Batangas, Cavite, Bulacan, Pampanga, and Metro Manila.

t h ese communities have stood the test of time and weather—a testament to the quality of homes that P.A. Properties have consistently brought to the table.

As the company continues to grow, it vows to continue building affordable, safe, and futureproofed homes in key growth areas in the country, because it believes that the Filipinos deserve nothing less.

says Atty. Marianne r e yna Lina— Cruz, P.A. Properties’ President and Chief Executive Officer.

Top view of the 3.87-hectare Idesia Cabuyao

You can also catch up on the latest movies at the SM Cinemas. Grab some popcorn and choose from the SM MoA Complex’s 11 regular cinemas, three Director’s Club Cinemas, one Event Cinema, or the country’s biggest IMAX Theater.

Conr AD also serves as an ideal venue for meetings and social events, as the hotel’s pillarless Grand Ballroom can accommodate as many as 1,000 guests, making it the idyllic venue for special celebrations and gatherings.

Gatchalian pushes for bigger budget for ‘unhampered operations’ of NAS

By Butch Fernandez

SEN. Sherwin Gatchalian, moving to ensure unhampered operations for the National Academy of Sports (NAS), pressed for more adequate funding support for the sports community in the P5.268 trillion 2023 budget.”

PERFECT FINALE. PERFECT RESULT.

DOHA, Qatar—When it comes to soccer, money can buy the world.

It can pay for the World Cup. And the world’s best players. And it can bundle them all up into a perfect package and present it to a global audience of millions.

The power of money was on full display in the Qatari city of Lusail on Sunday as Argentina beat France, 4-2 on penalties to become world champion for the third time and end Lionel Messi›s pursuit of the one major trophy that had eluded him in his storied career.

O ne of the most thrilling finals in the tournament’s 92-year history finished 3-3 through extra time, with Messi scoring twice and Kylian Mbappé completing a hat trick.

The match was completely insane,” Argentina coach Lionel Scaloni said afterwards. “I know it’s just a football game, a World Cup, and we shouldn’t think any further, but in Argentina, football is not just football. We have to celebrate.”

I n the end it was not a bad return for Qatar, which spent an estimated $200 billion on staging soccer’s most prestigious event.

Hundreds of millions more have been paid out to take superstars Messi and Mbappé to Qatari-owned

Paris Saint-Germain.

A nd here, on the sport’s biggest stage of all, was the perfect finale as far as the oil-and-gas rich Emirate was concerned.

O n a temporary stage in the middle of the field, Qatar’s emir, Sheikh Tamim bin Hamad Al Thani, gave Messi a Qatari ceremonial robe to wear over his Argentina shirt for the traditional World Cup trophy lift.

Messi was beaming with pride as he tenderly kissed the cup of solid gold. But it is arguably the host country that could consider itself the biggest winner after a tournament that appeared to demonstrate the effectiveness of so-called sportswashing.

A fter widespread criticism about its human rights record and treatment of migrant workers leading up to the event, the focus switched to soccer as the tournament progressed. By Sunday’s final, the narrative was fixed on Messi’s mission to emulate Argentina great Diego Maradona by leading his country to a World Cup title.

The subplot was France’s bid to become the first team to win the trophy back-to-back since Brazil and Pele in 1958 and ‘62.

It was always inevitable that the conversation would increasingly turn to football once the tournament started, but human rights questions have

Young Lucena swim ace gets 4th win; Krog sweeps girls cycling gold medals

By Josef Ramos

VIGAN CITY, Ilocos Sur—

Lucena City’s Julian Louwers

De Kam snatched a fourth swimming title, Caloocan City’s Maritanya Krog swept her cycling events and Masbate City’s Leonelyn Compuesto pocketed a third gold medal in the fourth and penultimate day of the Batang Pinoy National Championships on Tuesday.        D e Kam, a Grade 9 student at the Calayan Educational Foundation, won the 400 meters gold medal in four minutes and 26.03 seconds at the Quirino Stadium Pool Center, beating Evenezir Polancos (4:26.54) of General Santos City

“ He [De Kam] deserves those gold medals because he works so hard all the time. I’m confident that he would win earlier despite the strong opposition,” Lucena City coach Alton Jhon de Luna told BusinessMirror “We are praying he’ll get his fifth [gold] tomorrow (Wednesday).” “It was intense and I felt nervous.”

D e Kam, 15, earlier captured golds in the boys’ 15-below 200 and 1,500 freestyle and 100 butterfly and 200 freestyle.

Lucena won nine of its 12 gold medals in swimming to rank eighth in the medals race currently topped by Baguio City with 27 golds. Quezon

never gone away and will continue to be raised long after the tournament,” Steve Cockburn, head of economic and social justice at Amnesty International, told The Associated Press.

A mnesty says thousands of migrant workers have died “suddenly and unexpectedly” in Qatar over the past decade.

L ast month Hassan al-Thawadi, the secretary-general of Qatar’s Supreme Committee for Delivery and Legacy, said between 400 and 500 had died during construction for the tournament. The committee later said he was referring to workrelated deaths from 2014-2020, not specifically for the World Cup.

Soccer’s governing body FIFA has been pressured to provide answers on a proposed compensation fund for those affected and the concept of a migrant workers center to be created in Doha.

P rogress on both of those issues remains unclear.

Qatar wants to be a hub for global sporting and cultural events, and so should know that scrutiny will continue,” Cockburn said. “Hosting the World Cup has brought far more attention on the treatment of migrant workers in Qatar and the rest of the

City and Lapu-Lapu each had 14 golds so far, but the National Capital Region bets had more silver and bronze medals (eight and 12) over the Cebu local government (six and five).

K rog was unbeatable in girls’ 13-under cycling following her convincing victory in the road race staged at the Vigan-Bantay Diversion Road.

S he ruled the 30.20-km race in 58:16.725 for her third title after the criterium and individual time trial. Iloilo City’s Maria Louisse Crisselle Alejado crossed more than a second later for the silver but she had to beat via photo finish Calapan City’s Jhanah Abella.

Again, I’m overwhelmed. I never expected to win one or two or three gold medals because this is my first time in this kind of race,” Krog said.

“I just concentrated on myself and listened to what my mother and brother and sister’s advised me before the race.”

H er mother Marita Lucas and eldest brother Rex Luis were former national cyclists while Mathilda is a current national team member who rides for the Philipine NavyStandard Insurance squad.

The other winners in cycling’s road race were Jerick Cabael, who annexed the road event to his ITT title, and Gwen Stefani Ponio of Davao del Norte in girls’ 14-15.

C ompuesto, on the other hand, reigned supreme in the girls’ 400 meters in 1:00.63. Bohol’s Ma. Emely Balunan and Olongapo City’s Wella Mae Coronado settled for the silver and bronze with times of 1:02.51 and 1:04.67, respectively.

Compuesto earlier won the 200m gold and anchored Masbate’s 4x100 relay to victory. She’ll vie for a fourth gold in the 100 meters in the last day of competitions on Wednesday.

Why Ateneo is UAAP champ again

Philippines (UP) Fighting Maroons in their championship clash against the Ateneo Blue Eagles on Monday in the University Athletic Association of the Philippines (UAAP) men’s basketball championship.

At one point in the game, the Maroons were 19-of-30 from the line.  It’s almost next to impossible to survive a situation as nightmarish as that.

B ottom line is, because UP kept missing precious charities, its crown sat shaking almost game-long, leading to Ateneo’s 75-68 victory to dethrone the Maroons in their winner-take-all Game 3 before a tumultuous crowd of 22,814 at the Smart Araneta Coliseum.

U P was turnover-riddled, too, with many errors producing precious Ateneo points.

Gulf than would otherwise have been the case, as well as the responsibility of sporting bodies such as FIFA.”

Concerns were also raised over the safety and wellbeing of fans from the LGBTQ+ community ahead of the tournament because homosexuality is a criminal offense in Qatar.

C aptains of seven European nations, including England and Germany, planned to wear multicolored “One Love” armbands to promote inclusion and diversity. But they ultimately backed down when

FIFA threatened to issue yellow cards to the players involved, saying it was a contravention of its regulations.

It is unclear whether that decision was taken under pressure from the Qatari government, but it added to the sense that the conservative Muslim country was hosting the World Cup on its own terms.

There was also a sudden ban on beer sales at stadiums two days before the opening match, which was a U-turn on the deal Qatar made to secure the tournament. AP

Ginebra, Bay Area eye finals slots

THE Barangay Ginebra San Miguel Gin Kings and Hong Kong Bay

Area Dragons try to finish off their respective opponents in Game 4 Wednesday of their best-of-five semifinals series in the Philippine Basketball Association Commissioner’s Cup at the Mall of Asia Arena in Pasay City.

A head 2-1 following a 103-80 win in Game 3 Sunday, the Gin Kings go for the kill against the Magnolia Hotshots in their 3 p.m. encounter and the Dragons are hoping to do the same against the San Miguel Beermen at 5:45 p.m.

Ginebra coach Tim Cone said that they’ll do whatever it takes to close out the series but stressed anything can happen in a sudden-death Game 5—if the series goes the distance.

Obviously, we don’t want to go to Game 5. Many things can happen in a Game 5,” Cone said. “We will try to go out and see what we can do in Game 4. We are going to try our best putting all the eggs in one basket and go to Game 4.”

Justin Brownlee, who also breached 5,000 points in scoring, ex-

ploded for 38 points, nine rebounds, seven assists, two steals and two blocks in Game 3.

He’s expected to take charge once again on Wednesday.

But a Magnolia fightback looms with Paul Lee returning after missing Game 3 due to illness.

“ I think we have enough time to recover and prepare well,” said Lee, the hero in Magnolia’s 96-95 win in Game 2. “We are hoping to follow our game plan.”

San Miguel Beer didn’t allow a Bay Area sweep in Game 3 after scoring a 98-96 win behind Simon Enciso’s go-ahead triple.

R eturning Beermen coach Leo Austria said that victory showed the Dragons aren’t unbeatable.

But despite Austria’s confidence, former National Basketball Asociation big man Andrew Nicholson of the Dragons remains a threat to the Beermen’s campaign.

Nicholson had 34 points and 14 rebounds with two blocks in Game 3.

JOHNNY ARCILLA continued his domination of Charles Kinaadman, 6-4, 3-6, 6-1, in the semifinal round to earn a crack at a third straight crown in the Naga Open National Tennis Championships at the City of Naga tennis courts in Cebu Tuesday.

But the veteran campaigner, who foiled Kinaadman in the finals to clinch the Brookside Open and Zentro Open crowns in Cainta and Pampanga, respectively, faces a new challenger in wild card Jan Godfrey Seno, who ripped Eric Tangub, 6-3, 6-1, in a duel of unranked bets in the lower half of the 32-player draw of the Group A tournament presented by Dunlop.

A rcilla, 42, and Seno dispute the championship at 1 p.m. Wednesday.

O n his way to the finals, the 23-year-old Seno, a product of St. Francis Brooklyn, toppled a couple

with Malik Diouf committing several crucial miscues.

I n contrast, Diouf’s counterpart, Ange Kouame, was almost error free as Kouame easily earned the Finals’ Most Valuable Player award, recording 19 points, 12 rebounds and four blocks in Ateneo’s victory.

It was a fitting ending to the fairy tale saga of Ateneo’s 6-foot-10 find from Africa, who had recently earned a Filipino citizenship ahead of Barangay Ginebra’s Justin Brownlee.

K ouame and Brownlee will combine to help Gilas Pilipinas pin down a decent finish in the Fiba World Cup that we will be co-hosting next year with Japan and Indonesia.

A teneo immediately took control of the game, erecting a 10-0 lead and then seizing a 30-12 bulge behind five blazing triples.

Singling out its SportsIntegrated Secondary Education Program (SISEP), the senatorsportsman proposed to augment the NAS program’s proposed budget of P88,113,000 by P57,481,000 for a total of P145,594,000. Gatchalian pointed out that the budget for the SISEP covers the monthly stipends for incoming Grade 7 students, provision of nutritious meals, and students’ participation in competitions, among others.

He added it also “covers benchmarking that will enhance road mapping and help make NAS become a leader in sports development.”

R ecalling that the program earlier faced a looming P104-million-cut, the senator warned this “could affect the academy’s efforts to attract students, especially from the countryside.”

Gatchalian, co-author and sponsor of Republic Act No. 11470, which created the NAS System, clarified they simply seek to ensure delivery of the expectations of the sports community to deliver honor to the country.

T initiyak natin na matutupad natin ang ating pangako noong isabatas ang paglikha sa NAS— ang mabigyan ng kaukulang suporta ang ating mga atleta at pagtibayin ang ating suporta sa sports dito sa ating bansa ,” the senator said.

At the same time, he clarified that “under the law, the NAS System is mandated to implement a quality and enhanced secondary education program, integrated with a special curriculum on sports.”

T he senator also assured it will offer full scholarships to natural-born Filipino citizens with considerable potential in sports, clarifying that the NAS curriculum seeks to help student-athletes excel in their respective sports or pursue their chosen careers.

A s enacted into law, he adds the law likewise seeks to establish “nationally funded regional high schools for sports to boost the development of young athletes in other parts of the country.”

Arcilla arranges Naga Open title clash with Seno

of seeded rivals after disposing of qualifier Juan Pablo Gonzaga, 6-1, 6-0, in the first round. He routed No. 8 Stephen Gjuia, 6-1, 6-0, then stunned fourth-ranked Eric Jed Olivarez, 6-3, 6-3, in the quarters of the event put up by Palawan Pawnshop president and CEO Bobby Castro and serving as part of the Dagitab Festival celebrations.

Tangub, on the other hand, clipped No. 6 Norman Enriquez, 6-2, 6-2, in the first round, survived Jeremiah Tomacruz, 4-6, 6-1, 11-9, before upending second seed and Buglasan Open winner Jose Maria Pague, 6-2, 3-6. 10-8.

But the Zamboanga bet succumbed to Seno’s superb allaround game after trading breaks in the opening set, yielding the third and ninth games and the second and sixth in the next frame.

B ut Kouame’s three-point play made it 70-62 with 1:48 to go.

T hrough some sheer dint of Harold Alarcon’s inventiveness, plus a little luck, the Maroons had one last gasp.

A larcon intentionally missed the end of his three free throws, grabbed the rebound and sank an off-balanced three from deep left to put UP to within 67-70.

A las, only 17 seconds remained.  Ateneo simply milked the clock en route to its fourth title in five seasons and 12th UAAP crown overall.

But when all is said and done, the fact of the matter is, UP dug its own grave at the stripe.

happened to the University of the

Passing mistakes made the bulk of UP’s infractions,

U P’s last stand was when it rallied to within five points, 62-67, from 12 points down in the fourth with 2:12 left in the game.

THAT’S IT With Argentina’s victory at the expense of defending champion France, Lionel Messi’s legend is now cast in stone.  The World Cup trophy was the only remaining metal to complete Messi’s journey to greatness…Merry Christmas!

THE winners of cycling’s last discipline—road—pose with their medals alongside Pambansang

Pederasyon ng mga Sangguniang Kabataan Vice President Mary Ann Ataup.

LIONEL MESSI beams with pride as he tenderly kisses the cup of solid gold, but arguably, it’s the host country that could consider itself the biggest winner after a tournament that appears to demonstrate the effectiveness of so-called sportswashing. AP

Josef Ramos

THE 42-year-old Johnny Arcilla faces a 23-year-old opponent in the final.

and Meynard Geoff Marcelino (4:40.01) of San Jose del Monte.