Businessmirror december 21, 2014

BusinessMirror

U.N. Media Award 2008

www.businessmirror.com.ph

A broader look at today’s business

n Sunday, December 21, 2014 Vol. 10 No. 73

By Jovee Marie N. dela Cruz

T

HE leadership of the House of Representatives has vowed for the passage of the measure lowering income-tax rate for individuals this 16th Congress.

24 DAYS INSIDE

A practical and convenient way to fly BusinessMirror

»life on the go

F1 Sunday, December 21, 2014

Editor: Tet Andolong

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1 ILIAD partners COO J. Gargollo (left) and CEO Lester Codog with their helicopter 2 ILIAD Private Jets can take you to Balesin Island in just 25 minutes.

3 CODOG and Gargollo with their Cessna citation 4 FLYING in style

in one of Iliad Private Jets’s plane

5 ILIAD pilots

Capt. Frank Pagsugiron and Capt. Lloyd Maribay

A PRACTICAL AND CONVENIENT

WAY TO FLY B T A

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OR people who have hectic schedules and are always on the go, time is gold and every second counts. Here in the Philippines, where the worsening traffic jams are expected to progress to a standstill as the countdown to the Yuletide celebration begins, people are looking for alternative means of transportation that can take them to their destination in just a matter of minutes.

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Why go through the hassle and stress of traffic when you can fly by jet from, say, Parañaque to Balesin Island in 25 minutes or from Makati to Quezon City in a matter of minutes by chopper? Flying has gone from being a luxury to becoming a necessity,

as more and more businessmen, high rollers and VIPs are opting to fly on private jets, which are fast, hassle-free and a more comfortable way to travel from point A to point B. Flying has evolved from a privilege previously enjoyed by the superrich and rock

stars, to becoming a more affordable and practical utility.

“High-profile Filipinos can afford to drive around town with their Porsches, Lamborghinis and Ferraris, but still it is impractical for them to buy their own jets because of the high cost of maintenance,” explained Lester Codog, CEO of Iliad Private Jets. Established early this year, Iliad is a service provider that is opening its doors to a whole new era by offering the public nonschedule flights at a very affordable cost with a premier lifestyle of flying. Recently, Iliad invited a select group of media practitioners to experience the “Iliad” lifestyle by go-

ing on a day trip and having lunch at scenic and exclusive Balesin Island off the coast of Quezon province.

“It is more financially viable to sign up with our service rather than buying your own helicopter or private jet, which will cost you roughly $3.5 million to $31 million, respectively. Add to this the cost of aircraft maintenance, hangar rental fees and crew salaries, and one could easily rack up an estimated P10 million to P15 million a month. Having a private jet is like buying a supercar every month. It is just way too expensive,” said J. Gargollo, COO of Iliad Private Jets.

J. Gargollo is a veteran of the corporate taxi business, having worked abroad in a similar capacity for years. Prior to the establishment of Iliad Private Jets, the tandem of Codog and Gargollo partnered with private jet and helicopter owners. At present, their company is currently managing a fleet of aircraft that include Raven 44 (R44) helicopters, ASF355F2 (Ecureil helicopter) King Air B200, Let410, Cessna Citation 500 and a Westwind II for regional flights. The plane we took to Balesin was the Cessna Citation, which

was comfortable enough to fit eight people and their luggage. According to Codog, their fleet of jets has undergone a comprehensive refurbishment process with the interiors customized and the engines replaced with brand-new ones. “Safety and comfort are our priority, and our fleet is maintained and serviced 24/7 by a ground crew of seasoned mechanics,” he explained.

Iliad Private Jets is also introducing its Iliad Flying Program. The program offers clients the chance to fly block hours, eliminating the headaches caused by operational costs, maintenance, documentation, etc. “It is as simple as only thinking about your next flight destination. When you sign up with our block hours program, you own one of our jets and chopper for 100 hours. We can fly anywhere you want or drop you off at any destination across a regional destination.

Our service is just a phone call away, and the aircraft is at your service 24-hours a day, seven days a week.

We also offer one-time charter flight operations, medical evacuation flights, sightseeing tour, flower dropping and aerial photography

flights,” Gargollo said.

Since their operations began early this year, Iliad has been the air taxi of choice by celebrities, politicians and businessmen, whose time is as precious as gold.

“We have a client who had a meeting in Hong Kong at 11 a.m., and he had to be back in Makati by 6 p.m. the same day. During the fl ight, he and his staff were doing some last-minute alterations on their presentations. According to that CEO, Iliad is the ultimate solution for people like them, whose lives revolve around a busy schedule,” Codog added.

Their jets can fly to destinations in the Philippines and Asia that are within a maximum of two hours of flight time. Iliad only charges its clients once the engine is switched on and during actual flying hours. For example, a trip to Boracay for three days/two nights with Iliad’s King Air B200, which will take about an hour [round trip] will cost a total of P155,000 net of tax with insurance and parking fees included. Now, that’s the kind of lifestyle that used to be enjoyed only by the rich and famous. Not anymore.

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completing the big picture D

Family

EAR God, we see our family as a gift from You! We rejoice as we see our family a “cradle of life and love.” We seek to bring members of our family closer to You. We promise to pray with the members of our family. We help and encourage them to observe the teachings of Jesus and to live the values consistent with the building of “a civilization of love” and of “a just and humane society.” We show love and generous attention to every member of our family. May God keep our family in peace and unity. Amen.

JO A. SALDANA AND LOUIE M. LACSON Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • www.businessmirror.com.ph

Life

THE Ascott Bonifacio Global City Manila is an image of elegance and luxury that defines global living. PHOTO BY KEVIN DE LA CRUZ

BusinessMirror

Sunday, December 21, 2014

Yuletide gourmet gifts and deli treats available for order and reservations

ASCOTT Regional General Manager for Thailand and the Philippines Arthur Gindap

A TURKEY for Christmas from Diamond Hotel Philippines

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B JT N

ROM Fort McKinley’s shady culture of war in the early parts of the 20th century to the bright and bustling premier lifestyle center of Bonifacio Global City (BGC) has progressed into over the last decade, BGC is a picture of a complete turnaround. An image, which, according to Ascott Regional General Manager for the Thailand and the Philippines Arthur Gindap, is clear, but still incomplete. “In developing business cities, like BGC in Taguig, serviced apartments are preferred, especially with companies just starting their offices in the city, which will require travelers [specifically business executives] to stay for extended periods,” Gindap said. “With this, we find Ascott Bonifacio Global City Manila as the remaining piece of the puzzle that can cater to the upscale clientele in BGC to truly make the city the country’s newest CBD [central business district].”

Ascott BGC, located on 5th Avenue corner 28th Street, officially opened its doors on November 21. Prior to that day, the hotel has already reaped international accolades, including the “Best Hotel in Architectural Design” plum by the Philippine Property Awards and a high-recommendation rating from the Southeast Asia Property Awards. To top it off, Ascott The Residence is hailed as the Philippines’s Leading Serviced Apartment Brand by the World Travel Awards for back-to-back years.

“The Ascott Bonifacio Global City Manila will be the second Ascott-branded property in the country,”

Gindap said. “Ascott Makati successfully catered to the need of Makati City expatriates and corporate dwellers.

Now, we are bringing this brand of hospitality to Taguig to help the city be recognized as another premier business hub of the Philippines. We’re very proud to be the first premier international hospitality brand to open up here in BGC.” Aside from filling the void of BGC in its pursuit of becoming a full-blown CBD, he also struck a comparison of the brand with the continuously rising city.

“Similar to other economies we have chosen to set up in this year, we believe the business potential of Bonifacio Global City is great, and its growth in just a decade has been more than remarkable. This year Ascott is celebrating its 30th anniversary and, like BGC, our growth has also been quite remarkable.

From the single property in Singapore in 1984, we now have almost 200 operating properties with an additional 66 underdevelopments, giving us a total of almost 260 properties globally. Our presence spans over 88 cities across 24 countries in Asia, Europe and the Gulf region.”

During a recent tour in the award-winning hotel, the reasoning behind the recognitions became clear.

The vibe of the brand’s luxury welcomes guests at the lobby, which comes to life with elegant mirrors placed at the front desk and at the ceiling, conjuring an image of limitless space.

Amenities, such as the outdoor 25-meter lap pool, Jacuzzi and a well-equipped gym, all overlooking the posh BGC and Makati cityscape, are on the seventh floor. But, aside from these side notes, the hotel’s bread

Luscious flavors of the season

and butter, the serviced residence, lived up to the high billing.

The rooms, like the studio apartment measuring 49 square meters to 52 sq m, and the one-bedroom unit that spans a generous 75 sq m with a royal bathroom of sorts, are elegantly furnished and fully equipped with a home-entertainment system, functional kitchen and a washer with dryer. Office suites, meeting rooms, function rooms, a boardroom and a ballroom will be fully operational by the first quarter of next year.

Along with Ascott BGC’s list of firsts, the hotel will also be featuring renowned chef’s Margarita Fores’s first restaurant in BGC with Alta, which can accommodate 200 guests for sit-downs, and up to 600 in a cocktail setup.

Ascott has also made local products and talents a point of emphasis as, according to Philip Barnes, Ascott BGC Manila residence manager, all furniture come from Cebu and even the artworks on keycards are created by local artists.

The Ascott Ltd. is definitely on the right track, Gindap said, by riding the highs of the country’s booming economy. To put the growth in perspective, he attributed Ascott BGC Manila as the fifth operating service residence in the country and the second one launched this year, following Citadines in Salcedo, Makati. Also, in the next two years, The Ascott Ltd. is opening properties in Ortigas and Alabang.

“Ascott has always been very bullish, very confident on the prospects of the Philippine economy. We are in a very good position of having eight properties, one of the largest in the country.” ■

THE Yuletide season means getting together with the special people in your life and celebrating with impressive feasts in bountiful servings. Diamond Hotel Philippines (http://tinyurl.com/kw99nds) offers an extensive spread of luscious delicacies to make your holidays superb.

Exquisite international cuisine selections are abundant at the Corniche restaurant to satisfy hefty appetites. Christmas Eve and Christmas Day lunch and dinner buffets are at P2,550 net per person.

The dinner buffets are made more special with the inclusion of a complimentary glass of cava (Spanish sparkling wine).

The Yurakuen Japanese Restaurant sets an equally tempting gastronomic repast in family feasts that include a complimentary glass of umeshu (Japanese plum wine) or cava, this is available during dinner on December 24, 25 and 31, and January 1, 2015, at P2,350 net per person.

When you’re in a merry mood to relax, the Lobby Lounge is the ideal venue, where a set of signature Spanish tapas, complemented with a glass of Clarendelle, is offered at P1,280 net per person.

Share in the fun as the hotel’s rock-aroundthe-clock countdown party happens at Corniche restaurant, with live performances from Xarchy Band and FBC Rebirth on New Year’s Eve. Join the party for only P4,350 net per person, which includes a festive dinner buffet with a glass of cava, party favors and a chance to win roundtrip tickets for two to Coron, Palawan. For those who prefer a higher level (floor level that is) of partying, heighten the start of the New Year at the Sky Lounge Music Bar on the 27th floor, with the upbeat vibe of the band TAC 4.

The countdown party starts at 9 pm.

life

This undated photo provided by National Oceanic and Atmospheric Administration (NOAA) shows a polar bear standing on ice. in the spring and summer of 2014, Earth’s icy northern region lost more of its signature whiteness that reflects the sun’s heat. it was replaced temporarily with dark land and water that absorbs more energy, keeping yet more heat on already warming planet, according to the Arctic report card issued on December 17. AP/NOAA, KAthy CrANe

USD $200

Dec. 12 69.08

This undated photo provided by NOAA shows a polar bear swimming.AP/NOAA

0 08 Source: Reuters

Large carnivores gaining ground in Europe

TwO lynxes are pictured in a wildlife park in hanau, Germany. scientists studying populations of bears, wolves, Eurasian lynx and wolverines found they have flourished on the continent, decades after being driven almost to extinction by hunting and the destruction of their habitat. AP/MiChAel PrObst

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GrEENpEAcE volunteers prepare to distribute rice seeds for planting, to farmers whose fields where destroyed by Typhoon ruby (international code name hagupit) in Dolores, Eastern samar, philippines. The seeds were presented to 125 of the most affected farmers by the typhoon. ChArlie sACedA/GreeNPeACe

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OLORES, Eastern Samar— A group of farmers from the islands of Cebu, Bohol and Negros came together in the spirit of balaynihan, an act of good will and neighborly love, to aid fellow farmers by collecting ecologically farmed rice seeds, root crops, vegetable seeds and organic fertilizers.

The seeds were presented presented to 125 of the most affected farmers in Dolores town.

Typhoon Ruby (international code name Hagupit) made a direct hit on Dolores on December 6, damaging much of the region’s farmland and crops, before crawling across the rest of the country. Nationally, crop losses have been estimated at P1.9 billion ($42.5 million).

“This has been a terrific initiative and different to a government response, which can often be mistaken by farmers as a dole out which can mean they do not give much impor-

tance to it,” Dolores Mayor Emiliana Villacarillo said. “When it’s a farmer-to-farmer exchange, the farmers that offer the seeds are people who have nothing to gain from it, but are doing it out of goodwill, out of a sense of community. It also means farmers on the receiving end could personally offer their thanks.”

The mayor added: “It also changes the perspective of farmers by showing their capacity to help others in need and that our farmers have the solutions at hand. For this, we thank Greenpeace for initiating this approach. Farmers who are experiencing difficulties can now spring back and recoup their losses.”

An estimated 4 tons of rice seeds from Negros, 1 ton of farmer-developed rice seeds from Bohol and diverse vegetables seeds (for 1,000 families) from Cebu were delivered to Dolores. All the seeds were organically grown. The seeds will be enough

to replant about 125 hectares of rice farmland. Seeds earlier provided by the Department of Agriculture had been planted prior to the typhoon’s landfall. Farmers in Dolores did not have any other seeds to replant damaged fields. As part of the seed transfer, experts and practitioners of organic farming have also traveled to Dolores to begin training farmers on how to grow healthy, climate-resilient crops using ecological agriculture practices.

Greenpeace and partner organizations responded immediately to the seed-recovery mission by arranging and facilitating the skillssharing and seed delivery, organizing the logistics and acting as a contact point between the farmers in Cebu, Bohol and Negros and the impacted farmers and authorities in Dolores. “As our climate changes, there is an increasingly urgent need for Filipino farmers to adopt more

resilient farming practices. This seed delivery is a good step; it not only helps get farmers in Dolores back on their feet, but it also reinforces the need to strengthen farmer-tofarmer seed exchanges and the setting up of community seed banks and diverse seed stocks,” said Wilhelmina Pelegrina, ecological agriculture campaigner for Greenpeace International. “Farmers are still the major source of seeds, especially rice, so a reliable system for seed exchanges will prove crucial in building resilience to future climate shocks.”

Resilience can also be improved by the adoption of ecological agriculture, which uses the diversity of nature to help the soil retain more water and stay healthier to provide nutrients to crops in times of extreme weather. Crop diversity also enables farms to withstand different stresses, including climate shocks such as typhoons.

ERLIN—Brown bears, grey wolves and other large carnivores are making a comeback in Europe. Scientists studying populations of bears, wolves, Eurasian lynx and wolverines found they have flourished on the continent, decades after being driven almost to extinction by hunting and the destruction of their habitat.

Surprisingly, the animals aren’t just living in nature reserves or remote wilderness, but appear to coexist in areas dominated by humans across a third of Europe’s land mass, the authors wrote in their article published in the journal Science on Thursday. The study found that Europe, excluding Russia, Ukraine and Belarus, “is succeeding in maintaining, and to some extent restoring, large carnivore populations on a continental scale,” thanks in part to strong legal protection.

Denmark, Belgium, Luxembourg and the Netherlands are the only continental countries to have no permanent breeding populations of at least one large carnivore. Some 17,000 brown bears now inhabit much of Scandinavia, the Balkans

and even parts of the Alps and the Pyrenees. About 12,000 wolves can be found in those areas, but packs have also established themselves in much of eastern Europe, parts of Germany, Italy, France and the Iberian peninsula.

Eurasian lynx, who are thought to number about 9,000, are stable across Scandinavia and the mountainous regions of central and eastern Europe, while some 1,250 wolverines—a species that prefers cold climates—live in Scandinavia.

A relatively tolerant attitude toward large carnivores has also emerged in recent decades.

Guillaume Chapron, a researcher at the Swedish University of Agricultural Sciences and lead author of the study, cited the example of local herders in northwestern Spain who tolerate wolves killing mountain ponies because that keeps them from preying on more valuable cattle.

In Poland wolves are considered a natural way of keeping deer and wild boar populations in check, while in Sweden and Croatia brown bears are hunted in a sustainable way, he said. AP

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heat is being absorbed instead of reflected, he said.

The Arctic has been affected more by man-made warming than the rest of the globe, Jeffries and the report said. But it comes in spurts, pauses and drops.

Not every year will be a record, Jeffries said. For example, the Arctic sea ice’s lowest point this year wasn’t as small as 2012 and was only the sixth lowest since 1979. But the last eight years have all had the eight lowest amounts of summer sea ice on record, Jeffries said.

While Greenland’s ice sheet lost 474 billion tons of ice in 2012, it only lost 6 billion tons in the past summer, the report said.

While the US East Coast shivered during January’s cold snap from a polar vortex that slipped south, parts of Alaska were 18 degrees Fahrenheit (10 ˚C) warmer than normal.

Polar bear populations in parts of the Alaska region were shrinking but elsewhere they were more or less stable, the report said.

“Eight years ago, 2014 would have been considered an alarming year,” said University of Colorado ice scientist Ted Scambos, who didn’t contribute to the report. “With 2007 and 2012 behind us, not so much now. The continued summertime darkening of Greenland, particularly in a year when surface melt did not reach record levels, is worrisome, and sets up the potential for record surface melting in future years.”

By Seth Borenstein | The Associated Press

Seed delivery helps Eastern Samar town recover from Ruby

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Arctic loses snow, ice; absorbs more heat

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“We can’t expect records every year. It need not be spectacular for the Arctic to continue to be changing,” said report lead editor Martin Jeffries, an Arctic scientist for the Office of Naval Research, at a San Francisco news conference on Wednesday.

The report illustrates instead a relentless decline in cold, snow and ice conditions and how they combine with each other. And several of those have to do with how the Arctic reflects sun heat The Arctic’s drop in reflectivity is crucial, because “it plays a role like a thermostat in regulating global climate,” Jeffries said in an interview.

As the bright areas are replaced, even temporarily, with dark heatabsorbing dark areas, “That has global implications.”

The world’s thermostat-setting gets nudged up a bit because more

Coal benchmark Price per metric ton

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ASHINGTON—The Arctic and its future are looking dimmer every year, a new federal report says.

In the spring and summer of 2014, Earth’s icy northern region lost more of its signature whiteness that reflects the sun’s heat. It was replaced temporarily with dark land and water that absorbs more energy, keeping yet more heat on already warming planet, according to the Arctic report card issued on Thursday.

Spring snow cover in Eurasia reached a record low in April. Arctic summer sea ice, while not setting a new record, continued a long-term, steady decline. And Greenland set a record in August for the least amount of sunlight reflected in that month, said the peer-reviewed report from the National Oceanic and Atmospheric Administration and other agencies.

Overall, the report card written by 63 scientists from 13 countries shows few single-year dramatic changes, unlike other years.

Oil and coal prices down

As oil prices continue falling, now reaching levels not seen since the financial crisis of 2008-09, coal prices have also been dropping, signaling a cooling down of both industrialized and emerging economies.

Biodiversity Sunday BusinessMirror

By Jonathan Fahey | The Associated Press

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arctic loses snow, ice www.businessmirror.com.ph

Quimbo said this tax measure will be prioritized in the chamber, and will be passed before the second regular session ends in June 2015.

He said the bill lowering income-tax rate for individuals will be out in his committee by March next year.

“Our next battle [in the House of Representatives] is lowering income tax for individuals,” Quimbo said.

The lawmaker added that the current income taxes imposed on individuals have become uncompetitive and unresponsive.

“Our tax system’s failure to keep in step with global corporate trends and to adapt with rising inflation rates must be resolved,” Quimbo said.

Quimbo’s House Bill 4829 is among the 14 pending bills that See “Tax rate,” A2

Who’s hurting, happy, hopeful

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HAVE goodwill gourmet and share it with the ones you love this Christmas. The Blackboard by Chef Michel, the fun-dining restaurant and bar for fine gourmands at The Podium in Ortigas Center, is preparing a Christmas feast that will put the holiday cheer on your tables.

Chef Michel Cottabarren has prepared a variety of Christmas party buffet options that are perfect for those who are planning their holiday thanksgiving celebrations but want to give. For a minimum of 15 people, the four Blackboard Christmas Buffet set menus (from P600 to P850 per head) feature a variety of exquisitely prepared items, complete with soup, appetizers, main dishes and desserts that come with freeflowing brewed iced tea.

Its function rooms—like the Sensory, Meeting and Library Rooms—are also available on a first-come, first-served basis that also include free use of projector, wide screen, white board, sound system and Wi-Fi connectivity.

Also, The Blackboard is offering a lineup of holiday gourmet deli items available for preorder. Make your Christmas extra special with Chef Michel’s Foie Gras with Mango Chutney and the enticing Gravadlax, a Nordic dish of raw salmon, cured in salt, sugar and dill. Also great for party pica-pica are the delightful bite-size slices of assorted homemade sausages, like Chorizo with Roasted Garlic, Black Pepper Pork Sausage, Smoked Bacon and Walnuts, and Salmon and Shitake Mushroom, perfect with your choice of bread or table wine.

Thinking of a different Christmas centerpiece dish this time?

Try Chef Michel’s whole-roasted US turkey with bread and herb stuffing with oven-roasted carrots, sweet potato, rich turkey gravy and cranberry sauce.

Finish it with any of Chef Michel’s superb array of specialty cheesecakes with such fantastic flavors, like Pumpkin Spice, Gingerbread and Quezo de Bola and Walnut.

Completing the big picture

Speaker Feliciano Belmonte Jr. said that, after the passage of a measure seeking to increase the tax-exemption ceiling of the 13thmonth pay and other bonuses from P30,000 to P82,000 in Congress, lawmakers are now studying all the measures in the Lower House that seek to lower individual income-tax rate.

“[However], it takes us [House] a time to work on the income tax, but it’s true that we really need to amend our tax law…. I agree that we should lower the tax rate,” Belmonte said.

Liberal Party Rep. Romero Quimbo of Marikina City, chairman of the House Committee on Ways and Means, has said that the House, particularly his panel, has already started working for the passage of the bill lowering income-tax rate for individuals.

Global oil impact

HOW TO MAKE SURE YOUR HOLIDAY PARTY IS DOG-FRIENDLY »E2

Sunday

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House leadership vows to pass bill lowering tax rate for individuals

PAPAL VISIT 2015

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EW YORK— Oil’s plunge is spreading both pain and gain across the globe.

The price of a barrel has fallen by about half since June, punishing the economies of some major exporters.

Russia’s currency has nose-dived, for instance, and investors worry Venezu-

ela could default on its debt.

For countries that consume a large amount of the world’s oil, it’s a different story. The world’s four biggest economies—the US, China, Japan and that of the European Union—all benefit from lower oil prices.

“Economically this is a good thing for the US, it’s a good thing for Europe, it’s a good thing for China and it’s a good thing for most consumers,” says Sarah Ladislaw, director of the energy and national security program at the Center for Strategic and International Studies.

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PESO exchange rates n US 44.7490

The U.S. and Cuba begin

restoring relations 52 years ago, the world faced nuclear war during the

The roots of the crisis began years before it flared.

The disastrous CIA-sponsored Bay of Pigs invasion in April 1961 made Cuban President Fidel Castro paranoid about US efforts to overthrow his regime.

Also, the big advantage the US had in long-range ballistic missiles pressured the Soviets to counter by trying to build launch sites for medium-range missiles closer to US territory.

President John F. Kennedy

Soviet SS-4 medium-range ballistic missile

Wary of the U.S. Cuban President Fidel Castro agitated for a preemptive attack on the US

Map key Intermediate-range site

SAM surface-to-air missiles

Medium-range site

US ships at height of crisis

IL-28 bomber airstrip

Key US military bases

Homestead ARB Naval air station

U-2 photography

Oct. 16, 1962 President Kennedy informed of U-2 photos, gathers advisors Oct. 22 Kennedy alerts US public over television Oct. 23 He signs order for naval blockade of Cuba Oct. 25 Adlai Stevenson shows photo evidence of missiles to UN assembly

Krushchev makes proposal involving US Jupiter missiles in Europe

Gulf of Mexico

Miami Flor

Guanajay

ida

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Atlantic Ocean

Nassau

Sagua la Grande Havana

SS-4

Remedios

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San Cristobal

Flyovers locate nine bases being built Source: George Washington University, Library of Congress, Natural Resources Defense Council, globalsecurity.org, Kennedy Library, The Miami Herald Graphic: Robert Dorrell © 2012 MCT

100 miles 100 km

SS-5

BAHAMAS

Guantánamo Bay Naval Base (US)

Bay of Pigs

Reconnaissance

Oct. 28 Soviets agree to remove their missiles if US promises it will not invade Cuba

Route of Soviet freighters

FLA.

Oct. 14, 1962 Spy plane takes photos of SS-4 launch site near San Cristobal

Chronology

Oct. 27, “Black Saturday” Missiles considered operational;

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2006, 2010, 2012

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three-time rotary club of manila journalism awardee

Santa Clara

Holguin

Caribbean Sea

The Jupiter deal This missile design was outmoded; their removal from Europe became a behindthe-scenes part of the settlement over the Cuban missiles

Jupiter sites

ITALY

U.S.S.R.

Soviet Premier Nikita Krushchev

Moscow

TURKEY

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he United States and Cuba on Wednesday took their most assertive step in several decades 43.4% 36.9% toward normalizing relations. The most important announcements concerned 19.7% the resumption of high-level political discussions focused on renewing formal diplomatic ties between the countries, which have been nonexistent since 1961. GlobalEye»C2 Cuban relations poll Should the U.S. establish diplomatic relations with Cuba?

Should

Not sure

Should not

Source: Reuters Graphic: Tribune News Service

n japan 0.3766 n UK 70.1396 n HK 5.7703 n CHINA 7.1986 n singapore 34.0737 n australia 36.5387 n EU 54.9831 n SAUDI arabia 11.9219 Source: BSP (19 December 2014)

News BusinessMirror

A2 Sunday, December 21, 2014

Tax rate...

continued from A1 seek to restructure the income taxes imposed on individuals.

He said that since the effectivity on January 1, 1998, of the National Internal Revenue Code of 1997 (or for 16 long years), the levels of taxable income brackets have been pegged at the 1998 Consumer Price Index (CPI) of 67.8 percent, which is starkly less than half of the present CPI of 137.7 percent.

As the income of salaried individuals is increased to keep it on a par with the rising inflation, they are pushed into higher income brackets, and, thus, are compelled to pay more taxes than they should, according to him.

His bill proposes a flat rate of 25-percent income tax on self-employed individuals and professionals; a 5-percent minimum income-tax rate on self-employed individuals and professionals; reduction of the corporate income-tax rate from 30 percent to 25 percent; and increase of the minimum corporate incometax rate from 2 percent to 5 percent.

While he supports the moves decreasing the income-tax rate, House Majority Leader and Mandaluyong City Rep. Neptali Gonzales II said Congress should study the measure carefully.

“We should first consider how we will get back the revenue that will be lost from reducing income taxes,” he said.

Earlier, Finance Undersecretary Jeremias N. Paul Jr. warned lawmakers that reducing the individual income-tax rates may cause the government to lose revenues totaling as much as 1.5 percent of the country’s gross domestic product, or P30 billion.

“We need to have a compensating measure. It has to be revenueneutral,” Paul said.

news@businessmirror.com.ph

MRT, LRT to raise fares in January

By Lorenz S. Marasigan

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OMMUTERS using the railway systems in Metro Manila will be greeted by an increase in fares in January, even as these infrastructures have been seeing little to almost nil improvements over the year.

The 11+1 fare matrix will be implemented at the Metro Rail Transit (MRT) Line 3 and the Light Rail Transit (LRT) Lines 1 and 2 starting January 4.

“It’s a tough decision, but it had to be made. It’s been several years since an increase was proposed. We delayed its implementation one last time until after the Christmas season. While 2015 will see increased fares, it will also see marked improvements in our LRT and MRT services,” Transportation Secretary Joseph Emilio A. Abaya said on late Saturday.

Despite inflation and rising operational costs over the years, the last fare increase for LRT 1 was in 2003.

LRT 2’s fares, on the other hand, have never been increased. For MRT 3, not only have its fares never been in-

Oil...

creased, they were, in fact, lowered: from the original range of P17 to P34 in 1999, fares were decreased to P12 to P20 in 2000. Currently, it is even lower at a range of P10 to P15.

Thus, for MRT 3 passsengers coming from North Avenue in Quezon City to Taft Avenue in Pasay City, the fare will be P28 for storedvalue and single-journey tickets, from the existing P15.

For LRT 2, the proposed fare would be P24 for stored-value and P25 for single-journey tickets from Recto to Santolan from the existing P15.

For LRT 1, the fare will be increased to P30 for single-journey and P29 for stored-value tickets from Roosevelt in Quezon City to Baclaran in Pasay City, from the present P20.

The three railway systems serve some 1.2 million passengers daily.

The fare adjustment is based on the approval and recommendation of the Light Rail Transit Authority, with due concurrence of the Land Transportation Franchising and Regulatory Board, and the MRT 3 office.

The transport chief said the fail-

continued from A8

the decline in energy prices is “likely to be a net positive” for the US even if it decreases domestic drilling activity, because the country remains a net importer of oil. Consumers in China, Japan and Europe spend a lower portion of their income on energy, so a cut in energy prices doesn’t go quite as far, although it still stimulates their economies. There’s a catch for Japan, however. Falling oil prices could hamper efforts to trigger inflation in an effort to overcome economic stagnation.

The hopefuls: Brazil, Colombia, Mexico

Ambitious plans to boost oil production in Brazil, Colombia and Mexico will almost certainly be pushed back.

Brazil’s oil industry was already reeling from a corruption scandal at the nation’s state-controlled oil company, Petrobras. Also, the country’s considerable oil reserves are expensive to exploit because they sit so deep under the ocean floor.

Low oil prices could further reduce

ure to match fare adjustments with increasing operating costs is the culprit for the worsening state of the train facilities.

Abaya said the “crippled ability to invest in large-scale improvements for their facilities, since revenues have only been enough for day-to-day operational requirements” stems out from the “practically break-even finances for all three lines.”

The increase is in line with the 2011-2016 Medium-Term Philippine Development Plan, which directs the adoption of the “userpays” principle in the pricing of transportation services.

Currently, LRT and MRT operations are subsidized by government to the tune of some P12 billion a year.

Under the “user-pays” principle, riders will shoulder more of the cost for their own trips. In the case of LRT and MRT, this will entail a shift from the current zonal fare scheme to a distance-based system. As such, riders will be charged based on the distance they travel.

Since government subsidizes around 60 percent of the cost for each LRT 1 and LRT 2 passenger and around 75 percent of each MRT 3 passenger, an estimated P2 billion will be freed up for development projects and relief operations in other parts of the country.

“We must emphasize that around P10 billion will still go to subsidizing LRT and MRT passengers. But the premise of the userpays principle is this: If what each rider pays is closer to the actual cost of his or her own trip, the P2-billion savings can be used for development projects and relief operations to benefit those who never even get to use the LRT or MRT,” Abaya explained.

“I’m referring to the vast majority of Filipinos outside of Metro Manila—those in other parts of Luzon, in the Visayas, and in Mindanao, most especially those whose lives have been severely affected by typhoons and calamities. They will be the real beneficiaries of a more equitable distribution of these savings,” he added.

the incentive to drill there.

Colombia’s oil industry has made major improvements in recent years. While it hasn’t discovered huge oil fields yet, it has increased production. Now, the Colombian peso has fallen, and oil exploration will slow. After years of declining production, Mexico reformed its constitution to allow foreign companies to operate in the country. The country is thought to have considerable untapped reserves both onshore and offshore.

Now, though, global oil companies might delay or seek better contract terms.

“People want to get into Mexico, but they won’t pay just anything to do it,” Ladislaw says.

3-DAY EXTENDED FORECAST

TODAY’S WEATHER

DECEMBER 21, 2014 | SUNDAY

Trough of Low Pressure Area is an elongated region of LPA. It can bring in cloudy conditions and precipitation or cold air mass.

DEC 23

TUESDAY

METRO MANILA

24 – 32°C

22 – 30°C

TUGUEGARAO

21 – 26°C

20 –26°C

OPEC’s biggest producers remain very profitable at low oil prices because the cost to produce oil there is far below even current oil prices.

Still, government budgets were set assuming much higher oil prices. The US Energy Department expects oil revenue from Opec members to fall to $446 billion in 2015, a 36-percent decrease from 2014’s expected revenue.

DEC 24

WEDNESDAY

3-DAY EXTENDED FORECAST

DEC 22

MONDAY

continued from A8 international conventions on human and labor rights, environmental protection and good governance.

The EU, which is also a party to these conventions, will keep under review their effective implementation by the Philippines, as well as its cooperation with its monitoring bodies.

The EU has granted trade preferences to developing countries through the Generalized Scheme of Tariff Preferences (GSP scheme) since 1971. It is part of its common commercial policy in accordance with the general provisions governing the EU’s external action.

The special incentive arrangement for sustainable development and good governance (GSP+) provides additional tariff preferences when exporting to the EU to developing countries, which are vulnerable, owing to a lack of diversification and insufficient integration within the international trading system.

The GSP+ scheme supports these countries to assume the special burdens and responsibilities resulting from the ratification of 27 core international conventions on human and labor rights, environmental protection and good governance, and their effective implementation.

Article 9(1) of Regulation (EU) 978/2012 of the European Parliament and of the Council (“GSP Regulation”) establishes the conditions for benefiting from the GSP+. The GSP+ currently covers 13 beneficiaries: Armenia, Bolivia, Cape Verde, Costa Rica, Ecuador, El Salvador, Georgia, Guatemala, Mongolia, Pakistan, Panama, Paraguay and Peru. PNA and Recto Merceme

DEC 23

DEC 24

TUESDAY

WEDNESDAY

21 – 30°C

METRO CEBU

24 – 31°C

24 – 32°C

24 – 32°C

20 – 25°C

TACLOBAN

23 – 28°C

24 – 30°C

24 – 31°C

21 – 29°C

CAGAYAN DE ORO

23 – 31°C

24 – 31°C

24 – 32°C

METRO DAVAO

25 – 32°C

25 – 33°C

25 – 33°C

24 – 34°C

24 – 34°C

25 – 34°C

TAIL-END OF A COLD FRONT AFFECTING SOUTHERN LUZON.

Tail-end of a cold front is the extended part of the boundary, which happens when the cold air and warm air meet. This may bring rainfall and cloudiness over affected areas. It is felt at the northern hemisphere winter season.

Northeast Monsoon locally known as “Amihan”.

It affects the eastern portions of the country.

It is cold and dry; characterized by widespread cloudiness with rains and showers.

DEC 22

MONDAY

The holdouts: Saudi Arabia, Iran, Iraq

EU...

NORTHEAST MONSOON AFFECTING NORTHERN AND CENTRAL LUZON. TROUGH OF LOW PRESSURE AREA (LPA) AFFECTING SOUTHERN MINDANAO.

LAOAG

22 – 30°C

22 – 30°C

(AS OF DECEMBER 20, 5:00 AM)

BAGUIO

LAOAG CITY 23 – 31°C

TUGUEGARAO CITY 21 – 27°C

SBMA/ CLARK

BAGUIO CITY 14 – 24°C SBMA/CLARK 24 – 32°C TAGAYTAY CITY 20 – 28°C

METRO MANILA 23 – 30°C

TAGAYTAY

13 – 23°C

24 – 31°C

21 – 28°C

13 – 23°C

23 – 30°C

20 – 26°C

13 – 22°C

23 – 30°C

PHILIPPINE AREA OF RESPONSIBILITY (PAR)

PUERTO PRINCESA CITY 24 – 31°C

ILOILO/ BACOLOD 24 – 31°C

TACLOBAN CITY 23 – 29°C

METRO CEBU 24 – 31°C

ZAMBOANGA CITY 24 – 33°C

PUERTO PRINCESA

ILOILO/ BACOLOD CAGAYAN DE ORO CITY 22 – 31°C METRO DAVAO 24 – 31°C

24 – 29°C

25 – 30°C

SUNRISE

SUNSET

MOONSET

MOONRISE

6:16 AM

5:31 PM

4:54 PM

5:08 AM

19 – 26°C

LEGAZPI CITY 25 – 30°C

LEGAZPI

ZAMBOANGA

25 – 31°C

HALF MOON NEW MOON

SOUTH HARBOR

DEC 14 24 – 31°C

25 – 31°C

25 – 32°C

DEC 22

24 – 29°C

24 – 29°C

Light rains

Watch PANAHON.TV everyday at 5:00 AM on PTV (Channel 4).

Weekday hourly updates: 6:00 AM on Balitaan, 7:00 AM & 8:00 AM on Good Morning Boss!, 9:00 AM, 10:00 AM, 11:00 AM, 12:00 PM, 1:00 PM on News@1, 3:00 PM, 4:30 PM, and 6:00 PM on News@6

www.panahon.tv

SABAH CELEBES SEA

4:48 AM

-0.11 METER

9:36 PM 8:51 PM Partly cloudy to cloudy skies with isolated rain showers and/or thunderstorms

Cloudy skies with rain showers and/or thunderstorms.

24 – 30°C

LOW TIDEMANILA HIGH TIDE

@PanahonTV

9:09 AM

1.13 METER

Partly cloudy to at times cloudy with rainshowers

EconomySunday

www.businessmirror.com.ph • Editor: Vittorio V. Vitug

BusinessMirror

Sunday, December 21, 2014 A3

IT industry seen to grow 11.4% in 2014

T

By Lorenz S. Marasigan

HE information-technology (IT) industry in the Philippines is expected to end the year with an 11.4-percent growth over 2013 driven by strong consumer spending, healthy economic fundamentals and, the most recent, credit-grade improvement.

Research company International Data Corp. (IDC) said it forecasts that the total IT market will reach a full-year total of $6.76 billion, with hardware contributing 76 percent, and software and services at 7 percent and 18 percent, respectively.

With the country’s gross domestic product seen to grow at 6.3 percent in 2015, IDC analysts believe that the IT

industry in 2015 will continue to ride the growth momentum recorded over the recent years.

The economic outlook for the Philippines is underpinned by robust growth in domestic demand, strong infrastructure spending, and the implementation of structural economic reforms.

“The changing of the guards in the homefront has deeply transformed IT

spending habits that will cause a stronger demand for mobility, devices, services, and applications across the country.

The increasing ICT demand from small and medium-sized enterprises [SMEs] and continued strong business-process outsourcing performance will also push ICT spending in 2015,” said Jubert Daniel Alberto, research manager and country lead for IDC Philippines.

IT spending for 2015 in the Philippines is looking at a healthy performance and is expected to grow 10.1 percent.

The strongest increase is in the area of smartphones, followed by midrange enterprise servers, networking equipment, broad IT services, and software needs.

Central to this development is the positive outlook in the country’s economic indicators and the vibrant spending from consumer sector that indicates an ongoing change in the nature of spending. The Philippines has a large and growing working-age population, and half of the population

is under the age of 24.

IDC’s Continuum Survey finds huge majority of Philippine companies looking to increase Information and Communication Technology (ICT) budget and spending in 2015. This shows a healthy sign for the Philippines in the bigger scheme of things. ICT spending is expected to be heavily impacted by the Third Platform, and usage of these technologies is being driven by the needs of companies seeking for new and effective ways for better engagement.

“While the country’s ICT spending may also be impacted by inhibiting factors such as natural disasters and port congestion, the effects of these will be limited in short-term period only. IDC believes the country’s rosy economic outlook, growing ICT demand from the consumer and SME sectors, and the increasing requirement for the Third Platform technologies will shore up the Philippine ICT industry in 2015,” Alberto added.

Higher rate for East Zone water consumers next year

C

USTOMERS in the Metro Manila East Zone water-concession area can expect higher bills starting next year.

In a regulatory filing over the weekend, Manila Water Co. Inc. said that it is raising Foreign Currency Differential Adjustment (FCDA) component of clients’ water bills by P0.36 per cubic meter effective 15 days after publication.

This is based on the exchange rates of $1:P44.7979 and ¥1:P0.4156, according to the Ayala-led company. The FCDA will be adjusted to 1.32 percent of the basic charge for the first quarter of 2015, it added.

“FCDA is a tariff mechanism formulated to account for foreign-

exchange losses or gains arising from the payment by Manila Water of concession loans and foreign-currency-denominated borrowings of the MWSS [Metropolitan Waterworks and Sewerage System], as well as loans of Manila Water for service expansion and improvement of its services,” said Joel P. Raquedan, chief legal counsel and assistant corporate secretary of Manila Water.

This is in accordance to the Concession Agreement between Manila Water and MWSS, as amended.

The FCDA, he added, will have no impact on the estimated net income of the East Zone water concessionaire.

The biggest listed water utility in the county posted consolidated net income of P4.55 billion in the first nine month ended September 30, 2014, or 6 percent higher than P4.29 billion in the same period last year.

A subsidiary of conglomerate Ayala Corp. in tie up with British and Japanese investors, Manila Water was incorporated on January 6, 1997, to provide water, sewerage and sanitation, distribution services, pipeworks, and management services to a broad range of residential, commercial and industrial customers. It became the East Zone concessionaire of MWSS during its privatization on August 1, 1997, with their 25-year water-concession deal from 2008 to 2022. Roderick L. Abad

ACR likely to meet Mindanao power generation expansion plan–exec

By Roderick L. Abad

A

LCANTARA Group’s listed company reported that it is on time of achieving its fivefold power-generation expansion in Mindanao by 2018 as planned.

Alsons Consolidated Resources Inc. (ACR) CFO Luis R. Ymson Jr. said they are on track to achieving the the plan, given the coming completion construction of the initial 105-megawatt (MW) section of their 210-MW Sarangani Energy Corp. (SEC) coal-fired power facility in Maasim, Sarangani province, by next year.

Now being built, 89 percent of its first section is already done in preparation for commissioning in the first six months of 2015.

The plant is set to commence operations by October of next year, and is expected to reach full capacity within the fourth quarter of 2016.

With the looming energy crisis in summer of next year, the SEC’s 210-MW plant will be the first new base load power facilities that will be operating by 2015, adding to the supply of electricity and solution to the four-year power shortage in Mindanao.

Also as part of ACR’s expansion plan, Ymson said at the investors’ briefing last week that they are anticipating the start of construction of their two major projects: the 105-MW San Ramon Power Inc. plant in Zamboanga City and the 17-MW hydroelectric plant at the Siguil River in Maasim, Sarangani.

The former is scheduled to operate before the end of 2018, while the latter is set within that same year.

Ymson said the company’s expansion plan started with its reacquisition and rehabilitation of the Iligan Diesel Power Plant early last year, which then became operational anew under the name of Mapalad Power Corp. in May 2013, and currently is capacitated at 103 MW. Other operating diesel-fired power-generation facilities in Mindanao include the Western Mindanao Power Corp.’s 100-MW plant in Zamboanga City, and the 55-MW Southern Philippines Power Corp. plant in Alabel, Sarangani.

Combining the capacities of ACR-affiliated power plants, Ymson bared that they could generate a total of 468 MW in the next two years, contributing over 25 percent of the projected peak power demand in Mindanao by then.

SundayV

Busine

A4 Sunday, December 21, 2014 • Editor: Alvin I. Dacanay

editorial

Reinvigorating ties with Mexico

L

AST Sunday the BusinessMirror’s weekly Envoys & Expats section published a feature on Mexican Ambassador to the Philippines Julio Camarena, in which he described the historical ties that bind the Philippines and Mexico during and after the fabled 17th-century Manila-Acapulco Galleon Trade. Also in the feature, he not only called for the reinvigoration of cultural relations between the two countries, but also for the expansion of trade between them, saying it will give impetus to the development of the two economies.

We give an enthusiastic affirmative reply to the ambassador’s suggestion and, at the same time, express regret that we have allowed relations with Mexico and other Latin American countries, with which we have deep political bonds, to sink into benign neglect over time. That is a serious mistake, and we must rectify it.

The potential of trade as a stimulus to the growth of the two countries can easily be appreciated. In 2013 the comparative figures are as follows:

Population Gross domestic product (GDP) (in million US dollars) GDP per capita (in US dollars) Total exports (in million US dollars) Total imports (in million US dollars) Total trade per capita (in US dollars)

Philippines 98.4 million 272,019 2,764 56,698 65,097 1,440

Mexico 122.3 million 1,260,915 10,310 380,189 390,965 6,451

If we follow the World Bank’s classification, Mexico belongs to the upper tier of the middle-income countries of the world, while the Philippines is at the lower tier. In the two basic indicators of capacity to export and import, the two countries are mutually accommodating. Our exports constitute a minuscule portion of Mexico’s imports, suggesting that we can export “all we can” to Mexico, with the North American nation “easily” absorbing them. On the import side, we can increase imports from Mexico, with that country exporting these to us without the need for any adjustment.

To renew Philippines-Mexico relations in earnest, some diplomatic, business and cultural initiatives are needed. An exchange of views between embassy officials of the two countries must take place to clear the ground for expanded business relations and, then, at the business level, the exchange of business delegations from each nation to explore business opportunities in the other.

We must give the occasion a festive mood, and to do this we must exchange cultural delegations that will perform national songs and dances, among others. Recall how Mexican actresssinger Thalia became beloved by millions of Filipino viewers in the mid-1990s, when her soap opera Marimar was shown on television. Perhaps, Mexico can include Thalia in its delegation.

For our part, we can include in our delegation Marian Rivera, who, we are confident, will also capture the affections of the Mexican people.

The expansion of trade relations with Mexico will greatly boost our economic development, as well as Mexico’s. It will also result in the resuscitation and enrichment of our cultural relations with friends from our colonial past. Let us get started on this historic thrust as soon as feasible.

Nonviolence and the lost message of Jesus Christ B

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Gospel

Sunday, December 21, 2014

ELFAST—I recently visited Assisi, the home of Saint Francis and Saint Clare, two great people whose lives have inspired millions of people around the world.

Saint Francis, a man of peace, and Saint Clare, a woman of prayer, whose message of love, compassion and care for humans, animals and the environment comes down through history to speak to us in a very relevant and inspirational way.

Today, in the 2lst century, as we, the human family, face increasing violence, we are challenged to admit that we are on the wrong path, and that we need to find new ways of thinking and doing things from a global perspective.

Peace is a beautiful gift to have in life, and it is particularly treasured by those who have known violent conflict, war, famine, disease and poverty.

I believe that having peace is a basic human right for every individual and all people.

Love for others and respect for their rights and human dignity, no matter who or what they are and no matter what religion—or none— that that they choose to follow, will bring about real change and result in proper relationships. With such relationships built on equality and trust, we can work together on so many of the threats to our common humanity.

Poverty is one such threat, and Pope Francis challenges us to take care of the poor, and has declared his desire that the Catholic Church be a church of and for the poor. To meet this challenge, we can ask ourselves: How will what I do today help the poor?

Pope Francis has also spoken about the need to build fraternity among nations. This is important, because building trust among people and countries will help bring peace to our interdependent and interconnected world.

I

Violence begets violence, as we witness every day on our television screens, so the choice between violence and nonviolence is up to each of us. However, if we do not teach nonviolence in our educational systems and religious institutions, how can we make that choice?

I believe that all faith traditions and secular societies need to work together and teach the way of nonviolence as a way of living; as a political science; and as a means to bring about social and political change, wherever we live.

A grave responsibility lies with the different religious traditions to give spiritual guidance and a clear message, particularly on the questions of economic injustice, “armed resistance”, arms, militarism and war.

As a Christian living in a violent ethnic and political conflict in Northern Ireland, and caught between the violence of the British Army and the Irish Republican Army, I was forced to confront myself with such questions as “Do you ever kill?” and “Is there such a thing as a ‘just war’?”

During my spiritual journey, I reached the absolute conviction that killing is wrong and that the just-war theory is, in the words of the late Father John L. McKenzie, “a phony piece of morality.”

I became a pacifist because I believe that every human life is sacred and we have no right to kill each other. When we deepen our love and compassion for all our brothers and sisters, it is not possible to torture or kill anyone, no matter who they are or what they do.

I also believe that Jesus was a pacifist, and I agree with McKenzie when he writes: “If we cannot know from the New Testament that Jesus rejected violence absolutely, then we can know nothing of Jesus’ person or message. It is the clearest of themes.”

n the sixth month the angel Gabriel was sent from God to a city of Galilee named Nazareth, to a virgin betrothed to a man whose name was Joseph, of the house of David; and the virgin’s name was Mary.

And he came to her and said, “Hail, full of grace, the Lord is with you!”

But she was greatly troubled at the saying, and considered in her mind what sort of greeting this might be. And the angel said to her, “Do not be afraid, Mary, for you have found favor with God. And behold, you will conceive in your womb and bear a son, and you shall call His name Jesus.

He will be great, and will be called the Son of the Most High; and the Lord God will give to him the

For the first 300 years after Christ, the early Christian communities lived in total commitment to Jesus’ nonviolence. Sadly, for the next 1,700 years, mainline Christian churches have not believed, taught or lived Jesus’ simple message: Love your enemies, do not kill.

During the last, 1,700 years, Christians have moved so far away from the Christ-like life of nonviolence that we find ourselves in the terrible dilemma of condemning one kind of homicidal violence while paying for, actively participating in or supporting another and war on a magnitude far greater than that which we condemn in others.

There is, indeed, a longstanding defeat in our theology. To help us out of this dilemma, we need to hear the full Gospel message from our Christian leaders.

We need to reject the just-war theology and develop a theology in keeping with Jesus’ nonviolence.

Some Christians believe that the just-war theory can be applied and that they can use violence—that is, armed struggle/resistance—or can be adopted by governments to justify an ongoing war.

It is precisely because of this “bad” theology that we need, from our spiritual or religious leaders, a clear message and an unambiguous proclamation that violence is not the way of Jesus, that violence is not the way of Christianity, and that armaments, nuclear weapons, militarism and war must be abolished and replaced with a more human and moral way of solving our problems without killing each other.

Mairead Maguire is a peace activist from Northern Ireland and co-winner of the Nobel Peace Prize in 1976.

throne of his father David, and he will reign over the house of Jacob for ever; and of his kingdom there will be no end.” And Mary said to the angel, “How shall this be, since I have no husband?”

And the angel said to her, “The Holy Spirit will come upon you, and the power of the Most High will overshadow you; therefore the child to be born will be called holy, the Son of God. And behold, your kinswoman Elizabeth in her old age has also conceived a son; and this is the sixth month with her who was called barren. For with God nothing will be impossible.” And Mary said, “Behold, I am the handmaid of the Lord; let it be to me according to Your word.” And the angel departed from her.— Luke 1:26-38

Voices

essMirror

opinion@businessmirror.com.ph • Sunday, December 21, 2014 A5

Nice try, Starbucks N

Free Fire

By Teddy Locsin Jr.

EW York pastor James David Manning warns that the semen of sodomites is Starbucks Coffee’s secret ingredient. Earlier, he warned that upscale sodomites are spreading the Ebola virus through Starbucks. Oddly, this warning only adds to the conviviality of a visit to Starbucks, to the thrill of taking risks, like a Doctor without Borders working in Africa. Manning asked food inspectors to look into his claim, and they did. Since nothing came of it, Starbucks got a clean bill of health. If Starbucks had unilaterally asked for an inspection, people would have become suspicious. But since someone else raised the issue…

Manning said, “The semen flavors up the latté and makes you think you are having a good time drinking.” The operative word is “think”. We might respond, “How would he know, unless he’s tasted semen himself?”

But his proposition does not require familiarity with the taste of semen, or Starbucks, for that matter. You could come to the same conclusion just by watching the strangely satisfied looks of Starbucks customers. Why do they all seem to be having a good time alone or with company? It can’t be the coffee, some might say, because it is so strong that identifying the bean is pointless. Yet,

none can dispute the evident satisfaction.

This raises the possibility that it is not the coffee, but something in it; something that does not add flavor, but conjures the recollection of having taken semen straight. And yet, Manning is not saying that all Starbucks customers are suburban sodomites.

As I said, the operative word is “think”.

The semen in the latté triggers a remembrance of things past, but not with a pastry (the spongy madeleine dipped in tea was another gay’s weakness) that triggered the writing of the fattest novel in literature.

Manning says his predictions never fail, and even as he predicts that, soon, no openly gay person would be seen in Harlem, he may have quietly predicted to Starbucks’s management that, if he rants this way, there will be another upsurge in customers who are out to show that they are not afraid of appearing gay or have the self-confidence to invite suspicion about their sexuality by patronizing Starbucks.

Indeed, Starbucks’s customers bought its coffee by the box and gave it out for free outside Manning’s church in defiance of his strictures, and while he denounced it, he seemed pretty cool about it. I think this guy works for Starbucks and operates on the principle that any publicity is good.

“Change is hard—in our own lives, and in the lives of nations.

And change is even harder when we carry the heavy weight of history on our shoulders. But today we are making these changes because it is the right thing to do.”

—United States President Barack Obama, announcing his plan to reestablish America’s diplomatic ties with Cuba in a speech delivered on Wednesday (Thursday in Manila).

Just not buying ‘The Night Before Christmas’

By Gina Barreca

The Hartford Courant (TNS)

W

hen Clement C. Moore wrote “A Visit from Saint Nicholas”—better known as “The Night Before Christmas”— I’m sure he didn’t mean to lie. I just think he had no idea what he was talking about.

Really, Mr. Moore? “’Twas the night before Christmas, when all through the house not a creature was stirring, not even a mouse”?

There is always somebody stirring the night before any big occasion, and that person is a woman.

And if a mouse isn’t stirring, it’s because even the mouse is afraid of her.

You can bet that women in a household are awake and stirring until dawn before major events, including (but not limited to) birthdays, anniversaries, graduations, junior proms, award nights, fund-raisers and the acquisition of a new pet; we won’t even bother

mentioning Christmas, Hanukkah or any other December celebration, because it goes without saying that, on those “eves”, she’s up until 3 a.m. and on the phone with her sister-inlaw begging for folding chairs and a Crock-Pot. And who, exactly, do you think hung those stockings by the chimney with care, anyhow? Wanna take a wild guess?

Not that I’m bitter.

I take exception to a few other parts of the “The Night Before Christmas”, as well. There’s the idea of describing Saint Nick as “a little old driver.”

What, exactly, do we mean by “old”? That’s meant to be old in men years, right?

Because to be old in women years is only to be, approximately, over 26, which means being older than, say, Taylor Swift. Swift is now being applauded for her “maturity,” which means that producers are currently searching for the “younger, fresher” version of Swift

because she’s aging out.

In contrast, Saint Nick is probably up there in years. He’s probably around the same age as Tony Bennett. And, like Bennett, Santa still has groupies.

(Personally, I adore Bennett and would make lasagna from scratch if I thought there was a chance of him dropping by my house—forget about leaving some old cookies under a tree. Santa can get Chips Ahoy!, but Tony would get homemade cookies.)

So there’s that little old driver, Santa, married to Mrs. Claus, and, despite his age and marital status, women all over the world are still hanging out additional mistletoe, just in case he looks their way, crooning “Santa Baby.” This then leads to having their offspring forced to tell a trusted adult: “I saw Mommy kissing Santa Claus.”

Forget saving for Christmas presents. If your kid sees you kissing Santa Claus, you should start saving for your kid’s therapy.

Then there’s the business of Santa being “all dressed in fur.”

Don’t you think Santa would now be wearing a microfiber fleece, with his boots and a belt made of pleather, given all those problems he’s been having with the People for the Ethical Treatment of Animals for the last few years?

Recently Saint Nick and his animal wranglers agreed to allow the reindeer to be entirely free-range, grass-fed and to work in shifts (there were something like six Lassies; you don’t think there was only one Blizten, did you?).

There have been measurable improvements in working conditions all around, with the elves now earning more than minimum wage; having access to better health-care coverage; and having the choice of wearing jeans on casual Fridays, instead of being forced into those skimpy, chilly outfits.

One thing hasn’t changed, however, despite all the recent North Pole consciousness concerning well-

ness: Santa’s smoking. “The stump of a pipe he held tight in his teeth, and the smoke it encircled his head like a wreath.”

Somebody get Santa a patch. Get Saint Nick some Chantix.

We won’t even talk about his weight issue. Some subjects are just too personal.

Finally, what Saint Nick needs is to communicate more effectively.

Women who are up all night getting ready for the holiday need more than a stranger who, with “a wink of his eye and a twist of his head,” indicates that we have “nothing to dread.” I know that I’m not putting away the mace until the guy in the pleather belt stops winking.

Only after all that is settled, Mr. Moore, can we honestly shout out “And to all a good night.” Let’s work on it, shall we?

Gina Barreca is an English professor at the University of Connecticut and a feminist scholar who has written eight books.

How my mother and Bob Hope taught me the true meaning of Christmas

By Joel L.A. Peterson Tribune News Service

First of two parts

I

T has been 15 Christmases since my mother passed on.

But I can’t help remembering all the lessons she taught me, especially one regarding what Christmas is all about.

It was Christmas Eve, 1987. I was a young naval officer and I had been at sea nearly 100 days straight escorting United States-flagged tankers through the Persian Gulf in the largest convoy operation since World War II. On this particular Christmas, my ship, the aircraft carrier USS Midway, was just outside the Strait of Hormuz, off the coast of Iran, while Iran and Iraq were approaching their sixth year of war with each other.

It was December 24, and Bob Hope flew aboard my aircraft carrier. Of course, it wasn’t just Bob.

Oh no. He brought a bevy of beauties, with impossibly perfect bodies, with legs that never stopped, with perfect smiles and big hair.

He came with singers, actors and beauty-contest winners.

I was thinking back on previous Christmases while waiting for the show to begin. Christmas was my mother’s favorite holiday, and she always pulled out all the stops and all her Hummel Christmas figurines were paraded out and displayed, depicting Nativity scenes and Christmas characters, like Santa Claus and Rudolph. I could remember so many of my mother’s perfectly orchestrated Christmases, but not all distinctly and separately. Many seemed to run together to where I couldn’t remember which Christmas had brought me the Hot Wheels set and which brought me the blue blazer.

But, thanks to my mother, there were Christmases throughout my past, when the world around me

was still so very new and I had found heroes who caught footballs and swung bats; heroes who, I believed, were just and fair, and played for the love of the sport.

Those Christmases were white and cold on the outside, but warm and glowing on the inside. As I waited for Bob’s Christmas show to start, I felt so distant from the wonder of the season seen through the eyes that I had when I was waist high.

As I waited on the hanger deck, I thought of my childhood home and all the seasonal aromas in the house: Breads and cookies that spread their scented glory throughout the rooms and struck me in the soul on the first step inside from the winter wind. A smell that said “home” like no other, a smell that welcomed all to the glowing promise of the ancient hearth. A smell that welcomed Christmas, and other aromas, as well: Aerosols that billowed from the bathrooms of the house, as

it filled with too many elderly family females for the square footage of powder rooms, mixed with the mist of fogged-up mirrors and invisible, but staggering, perfume clouds.

Eventually, the show got started, with Bob leading the way. I was shocked and surprised at how talented and engaging he was, live and in person. The show turned out to be much better than I had expected. Bob, actually, was a very funny man with a wicked sense of looking at the world and twisting his words to make everyone laugh at their own worst weaknesses and gaffes.

But when the laughs were done, the reality of this Christmas and how far away it was from any of the Christmases I remembered—that reality crushed my soul.

After the show, I went to my bunkroom where I opened the presents that my mother had sent me. She’d sent a little do-it-

yourself plastic Christmas tree.

I had put the thing up in my tiny and crowded bunkroom. It was something that resembled the little Christmas tree in A Charlie Brown Christmas: pathetic, in a cute sort of way. Mom had also sent a good couple handfuls of my old and faithful Christmas tree decorations, like the tiny clothespin soldiers I had made back in first grade. I hung all those faithful, Elmer’s glue-dried-anddripping decorations, decorations that had tiny red pipe cleaners for arms and colored cotton balls for hats. I hung all those decorations on the Charlie Brown Christmas tree and didn’t care if anyone might laugh at it.

To be concluded on Monday Joel L.A. Peterson is the founder and CEO of Student Planning Services Llc. and the author of the upcoming book Dreams of My Mothers.

NewsSunday

A6 Sunday, December 21, 2014 • Editor: Vittorio V. Vitug

BusinessMirror

Lawmaker calls for resignation of all NBP officials, guards

A

LAWMAKER over the weekend called for the mass resignation of all prison guards and officials of the New Bilibid Prison (NBP), following the reported construction of luxurious villas of the drug lords in the area.

Nationalist People’s Coalition Rep. Sherwin Gatchalian of Valenzuela City also urged Justice Secretary Leila M. de Lima to create a special body that will investigate the NBP mess.

Gatchalian said the NBP scandal is not only embarassing to the government, but “a total insult to the country’s judicial system.”

“How can this happen under the nose of the NBP management for years? This is totally unacceptable and all NBP personnel—from top to bottom—should resign immediately,” the lawmaker added.

Gatchalian said: “Everybody in the NBP should file their courtesy resignation to give the DOJ [Department of Justice] a freehand in replacing discredited and ineffective personnel. An independent body should also be set up to investigate all the jail guards and prison officials, and the guilty ones should be charged in court and sent to jail.”

He said the imprisoned very important prisoners, could not have built their luxurious and state-of-the art kubols without the knowledge and explicit permission from officials of

the NBP and the Bureau of Corrections (BuCor).

“The NBP functions like a police force, where the chain of command is being implemented and followed.

This means that the lowly prison guards get orders from their superior officers, who, in turn, get their orders from the NBP director and, ultimately from officials of the BuCor,” Gatchalian said.

Gatchalian said NBP and the BuCor officials cannot escape from this “chain of command,” meaning the entire NBP officialdom is liable for the breakdown of order and discipline among prisoners, particularly those detained in the maximum security compound, where the luxurious kubols equipped with appliances were discovered this week by de Lima.

He said the luxurious villas of the drug lords are far more extravagant than the kubol of former congressman Romeo Jalosjos, which was exposed years ago.

“And the most shocking part of it is the discovery of high-powered fire-

arms in the possession of convicted drug traffickers, who can even start a violent prison riot,” he said.

Gatchalian said the serious breach of order and security in the NBP calls for a total cleansing of the national penitentiary, which means that all the prison guards and officials of NBP has to go, with the guilty ones being criminally charged in court.

He also proposed that soldiers from the Armed Forces be tapped for prison-guard duties at the NBP until such time that the DOJ and the BuCor have recruited enough prison guards, who will replace the sacked NBP personnel.

He said the House justice committee will resume next month its NBP investigation, in which officials of the DOJ and the BuCor will be summoned to explain why anomalies in the NBP maximum security compound have worsened, even after these were exposed in the 2011 probe of the special privileges accorded to former Batangas Gov. Antonio Leviste.

www.businessmirror.com.ph

Blue Ridge residents ask for TRO against school

T

HE residents of Barangay Blue Ridge A in Quezon City have filed a petition before the Regional Trial Court to prevent City Planning and Development Officer Tomasito Cruz from allowing the construction of a school, despite a zoning restriction.

The Blue Ridge A residents sought the issuance of a temporary restraining order (TRO) and, eventually, a permanent injunction to stop Cruz from issuing a permit for the construction of a 10-story school building by Multiple Intelligence International School (MIIS) in a prohibited area on Katipunan Avenue.

“Petitioners seek the issuance of a writ of prohibition to nullify the threatened imminent action by public respondent [Cruz] of issuing a locational clearance in clear violation of Ordinance SP-2200, S-2013, titled The Revised Quezon City Comprehensive Zoning Ordinance,” the petition said.

Petitioners noted that the zoning ordinance was duly signed by the City Council of Quezon City and approved by Mayor Herbert Bautista on March 25, 2013. It was published on July 8, 2013.

Under the zoning ordinance, Blue Ridge A was classified as a Special Urban Development Zone (SUDZ), or an area “governed by certain conditions and regulations to preserve and protect their distinct or special character, or control physical development to prevent traffic congestion, deterioration of services, facilities and environment and other problems affecting the general public.”

The zoning ordinance provides that among the uses “not permissible” in this SUDZ are “additional schools.”

Declaring Blue Ridge A as part of the Katipunan SUDZ is meant to allow people in the area to enjoy certain benefits arising from lesser traffic congestion, slower deterioration of services and facilities, and cleaner and more peaceful environment.

“It also lessens their exposure to death and injury resulting from earthquakes, given the fact that Blue Ridge is close to the Marikina fault line,” the petition said, noting that the site of the planned MIIS building abuts a cliff or a deep ravine and just 400 meters from the fault line—putting it at greater risk in the event of a strong earthquake.

Aside from the danger to both MIIS students and nearby residences in case of an earthquake, residents also raised the fear that traffic on Katipunan Avenue will become further constricted than it is now if a large school is built along the major thoroughfare already used by large trucks as it is part of the C-5 road.

The petitioners noted that MIIS had already completed demolition work in the site, even without a valid demolition permit.

Barangay Blue Ridge A and Blue Ridge Residents’ Homeowners Association have already denied the request of MIIS for clearance as a prerequisite for their application for a Local clearance and construction Permit. Claudeth Mocon-Ciriaco

Airlines to passengers: Start trip to airport earlier

D

By Recto Mercene

OMESTIC and international air carriers have advised passengers to allot additional time in going to Ninoy Aquino International Airport (Naia) to make sure that they are not left behind because of the horrendous traffic in all roads leading to the premier airport.

From the three hours that was allotted before, Philippine Airlines (PAL), Cebu Pacific (CEB), AirAsia Zest, and Pal Express advised passengers to add one or two more hours more to make sure that they would reach the airport on time.

“Traffic due to the holiday rush had turn from bad to worst due to the ongoing road constructions and we advised passengers to add an extra two hours or three to make sure that they would reach the Naia prior to their departure,” the air carriers said in a joint statement.

Airlines said the ongoing elevated skyway

construction has reduced the four-lane road to Naia Terminal 3 to one or two lanes.

Naia terminal managers Dante Basanta of Terminal 1, Enrico Gonzales of Terminal 2 and Octavio Lina of Terminal 3 said they suggested before to give an additional three hours prior to their flight schedule.

“This time we are recommending at least four hours traveling time so that you will never miss your flights.”

PAL and CEB said that traffic around the four airport terminals of the Naia is expected to get worse in the days leading to Christmas and New Year.

The airlines and members of the Airline Operators Council have requested passengers to visit their web site or log onto their facebook for the latest information on flight schedules and updates.

The passengers may also call on the airline’s reservation office if they like to talk directly to the airline’s concerned.

passengers at the Ninoy Aquino International Airport Terminal 3 sit on the floor while waiting for relatives or friends who are supposed to fetch them, who were delayed by the traffic gridlock in the roads leading to the premier airport. Recto Mercene

Congressman seeks hike in govt doctors’ pay

T

O encourage physicians to serve in public hospitals and institutions, a lawmaker has filed a measure seeking to raise the salary grade of government doctors from the present Grade 16, or P26,878, to Grade 27, or P62,670 a month.

House Bill (HB) 5263, filed by Nationalist People’s Coalition Rep. Scott Davies S. Lanete of Masbate, also seeks to provide physicians with at least a P2,500 monthly allowance on top of other existing allowances.

HB 5263, now pending at the Committee on Appropriations chaired

by Liberal Party Rep. Isidro T. Ungab of Davao City, provides that the minimum base pay of government physicians shall not be lower than Salary Grade 27 as prescribed under Republic Act 6758, otherwise known as The Compensation and Classification Act of 1989. Based on House Joint Resolution 4 that provides for the salary standardization rates of government employees, which was passed by Congress and approved by former President Gloria Macapagal-Arroyo on June 17, 2009, Salary Grade 16 has a monthly compensation of P26,878, while Salary Grade 27 has P62,670.

Moreover, HB 5263 further provides that, in addition to the higher base pay, government physicians shall receive at least P2,500 every month as allowance on top of the existing allowances being given to government employees.

The bill provides that it shall apply to all government physicians referred to as Doctors of Medicine, as duly certified by the Professional Regulatory Commission, who are in the active practice of medicine, employed by the national government or a local government, either in public health institutions or in any government agency or instrumentality.

Last, the amount necessary to implement the increase for the first five years shall be sourced out from the gross annual revenues of the Government Service Insurance System and, thereafter in a special fund to be included in the annual General Appropriations Act. At the Senate, a counterpart measure, Senate Bill 319, had been filed by Sen. Antonio Trillanes IV, which seeks to adjust the minimum base pay of physicians working in government to not lower than Salary Grade 27, or P62,670. He said the bill seeks to discourage the steady exodus of Filipino physicians overseas to seek high-paying jobs. Jovee Marie N. dela Cruz

The articles in this section were originally published in ROGUE magazine. The views and opinions expressed or implied herein are those of the authors and ROGUE magazine and do not necessarily reflect those of Business Mirror.

WEEKLY DISPATCHES FROM ROGUE MAGAZINE

WEEK OF DECEMBER 21, 2014

Don’t Touch That Dial

For this year’s entertainment issue, Rogue presents a 50-page highlight reel headlined by a reality TV alumna turned Miss World, plus a behind-thescenes look at the landmark shows Goin’ Bananas and Ang TV TV, a rare interview with Tony Tuviera on Eat Bulaga!, and Tessie Tomas’s return to her rightful place in front of a camera

EVERYBODY WANTS TO RULE THE WORLD She may have made her name on the small screen, but the last year has seen Megan Young branch out, from her coronation as our country’s first Miss World to taking the lead in Ely Buendia’s segment in the film anthology Bang Bang Alley. She reunites with her Hiyas director Adolfo Alix Jr. to discuss her plans, progress, and renewed perspective on the craft she left behind.

BAD BOYS DO IT WELL The 80s gag show Goin’ Bananas was a landmark television hit that ran high with testosterone and titillation, fueled by the antics of its stars, The Bad Bananas— four friends who happened to be incredible actors and performers with notorious reputations. Wanggo Gallaga speaks to actor and director Edgar Mortiz, one of the last two remaining from the group, about the origins of the powerhouse quartet.

STAY TUNED Clockwise, from left: Most of Ang TV’s skits revolved around the daily lives of kids and teens, setting them against the ordinary backdrops of classrooms, canteens, and the living room. The teen cast included (from left) Claudine Baretto, Sargie Cruz, Marnie Arcilla, Gio Alvarez, and Angelu De Leon, photographed here with the show’s assistant director Boyong Baytion; Peque Gallaga (center) was congratulated by Fernando Poe Jr. for surviving the shoot of Bad Bananas sa Puting Tabing, which also featured Nora Aunor (third from right). On and off set, the Bad Bananas were known then for their wild, rowdy behavior.

HEY YOU KIDS, CUT THAT OUT! In the 1990s, “4:30 na, Ang TV na!” was a national catchphrase.

For the youth of that generation, it

Beauty and Carnage

Dark beige tennis Lacet Homme, Bensimon

signaled the end of the school day and the start of everyone’s favorite variety show. More than 20 years since the program’s premiere, Don Jaucian talks to some of show’s biggest stars as they look back on the Philippines’ answer to The Mickey Mouse Club.

TESSIE TOMAS IS A WOMAN ON THE VERGE Comedy TV isn’t something to be taken lightly. As legendary actress and impersonator Tessie Tomas reveals to Mixkaela Villalon, there’s more thought to the gag acts than just improv and ridicule.

Magnus Print Paravent, Komono

Ripe from the critical success of Under the Skin, director Jonathan Glazer immortalizes the bloodstained glory of gladiator football for Canon

Eyewear, Bensimon

Words by Apa Agbayani

T

he cobblestoned streets of Florence seem unsuited to bloodshed.

For Canon’s "Come and See" campaign (comeandsee.canoneurope.com), director Jonathan Glazer travels to the birthplace of the Renaissance to document the annual Calcio Storico (historical football) in a short film of the same name. Using Canon’s new EOS 7D Mark II, Glazer paints a charged, rousing portrait of the sport—a game of football practically bereft of rules.

The game began in the 15th century as a means to settle disputes among the city’s rival families. Players have 50 minutes after the sounding of a cannon to score as many goals over the opponent’s fence. Unlike football today, you can hold the ball in your hands and, as it happens, use any means necessary to undermine your opponents.

Inevitably, players come unhinged and the game can erupt into an allout brawl—black eyes, busted teeth and all.

The game is still played today every June in the sand-covered Piazza Santa Croce, with four teams representing the city’s four quarters. The winning team is presented with a prize cow.

Between awe-inspiring snapshots of Florence’s architecture and slow motion clips of Calcio Storico players in action, Glazer presents the game as deeply rooted in the city’s history yet forceful and utterly alive. The finesse and innovation in the 7D Mark II’s design make for an integral part of the film’s wonder. The camera is built for taking impressive photos and video, capturing high-frame rate videos in full HD. Thanks to its APS-C sensor and excellent ISO range, it’s also incredibly versatile in the face of difficult lighting situations.

The Mark II’s true magic emerges in action photos. It can capture 10 fullquality 20.2 megapixel photos per second and has autofocus

BLOOD SPORT Jonathan Glazer's film on gladiator football was shot using EOS 7D Mark II, which has a bespoke shutter unit and mirror system, and Canon's DGIC image processor that captures images at a stunning rate of 10 frames per second.

Tan sunglasses case, The Lost Nomad Santa Monica Tote, Common Thread

Burgundy knapsack, Gouache

tracking, ensuring your subjects are clear whether they’re running across the piazza or getting pummeled into the sand. The camera’s body is also environmentally sealed, making it perfect for shooting in harsh conditions.

And if you’re gutsy enough to follow Glazer’s footsteps, Canon presents a handy guide on capturing such stunning actions in motion on the "Come and See" website.

Whether or not you’re out to shoot bloody historical games, the 7D Mark II offers the chance to capture exhilarating moments in all their raw glory. Calcio Storico, as Canon puts it, “is just one of the revealing, unusual, thrilling opportunities that the world offers to you if you are willing to explore a little further, go round a different corner, go left when you usually go right.”

Keeping it Casual

Choosing gear that can go from work day to weekend is actually pretty simple. The trick? You can never go wrong with clean lines and a palette of faded blues, vintage maroons, and reliable earth tones.

Words by Gino de la Paz Photographed by Patrick Diokno All from Common Thread (Greenbelt 5 and Powerplant Mall)

Pop Culture by Francis Libiran

Creative Canvas From Missoni and Michael Bastian, to Valentino and Bassike, Havaianas has worked with renowned labels on sought-after limited edition releases. Francis Libiran for Havaianas is the latest in the roster, the Brazilian brand’s first full collaboration with a Filipino fashion designer.

The collection features three designs, each paying tribute to iconic pop culture symbols. The Francis Libiran for Havaianas collection will be available on December 1, 2014 at authorized Havaianas retailers nationwide.

2nd Front Page BusinessMirror

A8

Sunday, December 21, 2014

Global oil impact: Who’s hurting, happy, hopeful Continued from A1

Whether the price plunge ultimately helps or harms the global economy depends on how low oil prices fall, how long they stay low, and whether they trigger political upheaval that interrupts trade or spooks investors.

On Friday the global price of oil traded near $61, down 47 percent from its high for the year of $115. That drop removes nearly $5 billion a day in revenue from the global oil industry—and reduces costs for consumers.

The prices of bonds of some state oil companies and developing nations have fallen. And a possible recession in Russia next year could hinder European economies in their recovery. But the US stock market is trading near an all-time high, helped by some of the best employment and wage growth since the Great Recession.

The hurting: Russia, Venezuela, Nigeria

Western sanctions against Russia were already pressuring the ruble when oil prices plunged, accelerating the currency’s decline.

A move last week to help the stateowned oil company Rosneft meet debt obligations sent the ruble down even further, raising concerns about a run on banks as Russians fled to stores to buy expensive goods before prices rose.

Oil and gas sales account for

nearly 70 percent of Russia’s export revenue. If oil prices stay near $60, the central bank said the Russian economy could contract by nearly 5 percent next year. Even at $80 a barrel, the Russian economy could still shrink by 0.8 percent.

Like Russia, Venezuela’s economic problems predate the decline in oil prices. Venezuela is even more dependent on oil revenues, though— they account for 95 percent of the country’s exports. The price of Venezuelan bonds has plummeted in recent days as investors worry about a default, a move that could trigger political upheaval.

On Wednesday Nigeria’s finance minister trimmed the country’s 2015 budget by $3 billion, or 12 percent, because of lower oil prices.

The happy: US, Western Europe, Japan, China

The world’s biggest economies are also the world’s biggest oil users.

Lower prices for gasoline, diesel and jet fuel helps boost those economies by giving consumers more money to spend and businesses more money to invest.

Lower gasoline prices will save the typical US household $550 next year, the Energy Department predicts. Shares of airline companies and shippers like UPS and FedEx have soared in recent months.

Federal Reserve Chairman Janet Yellen said on Wednesday that See “Oil,” A2

Palace welcomes EU decision to include PHL in its GSP+

M

ALACAÑANG welcomed on Saturday the Philippines’s recent inclusion to the European Union’s (EU) Generalized System of Preferences Plus (GSP+), which would allow the country to export about 6,274 tariff lines under zero duties at least by Christmas Day.

Palace Spokesman Edwin Lacierda said this development would further open up trade between Philippine and European companies, thereby allowing more investment opportunities both ways.

“We certainly welcome [it], and we thank the EU for allowing us to have a greater opportunity for trade and exchange with them.

And we see this as a positive development and, again, an affirmation

of the changes that have been happening in the country,” he said in a radio interview.

Trade Secretary Gregory L. Domingo, who announced the news in a news briefing on Friday, considered it a “very good Christmas gift” by the EU to the Philippines.

“At the very least, we stand to potentially gain an added €611.8 million in exports to the EU during the first year that this arrangement will take effect,” Domingo was quoted as saying in a report.

The scheme could reportedly create over 200,000 jobs in the country, especially in the agriculture and manufacturing sectors.

The Philippines is only the 14th country to be granted GSP+ privilege by the EU and the lone beneficiary of such in Southeast Asia.

The EU is the Philippines’s fourth-largest trading partner in 2013, with total bilateral trade registered at $12.8 billion. It ranks fourth as an export market for the country’s products, accounting for 11.56 percent of total Philippine exports.

Early last week the European Parliament completed the last stage in the process to grant the Philippines GSP+ that will provide duty-free entry to the EU for some of the most important Philippine exports, including processed fruits and foodstuffs, coconut oil, footwear, fish and textiles.

EU Ambassador to the Phil-

ippines Guy Ledoux said, “This is very good news for the Philippines, as it will bring tariffs to zero percent for two-thirds of tariff lines, including strategic products that the Philippines is already exporting to the EU. This will immediately translate into savings of tens of millions of euros per year in foregone customs duties.

“Apart from giving a dramatic and immediate advantage to Philippine exports, the EU concession significantly improves the attractiveness of the Philippines as a destination for new agricultural and manufacturing facilities for products that will now enjoy dutyfree access to the EU. This gives the Philippines a comparative advantage and represents very tangible EU support to the Philippine strategy to increase exports and investments, and diversify its industry.

“The bottom line is more jobs for Filipinos in the Philippines.”

The Philippines is already a beneficiary to the EU’s Generalized Scheme of Preferences (GSP). Total exports to the EU that were eligible under GSP in 2013 amounted to €1.69 billion, or 33 percent, of total exports to the EU. Actual utilization was around 64 percent, or €1.08 billion, but this figure is set to rise as a result of GSP+.

The greatest benefit that is likely to be gained from GSP+ is the attraction of new industrial investments in sectors where relatively high tariffs are being slashed to zero under GSP+.

These include established Philippine exports that are labor intensive, such as pineapple juice (currently 28.5 percent); garments (currently 5 percent to 9 percent); preserved fruits (currently 6 percent to 9 percent); tuna (currently 20.5 percent); fruit jams and jellies (currently 20.5 percent); and footwear (currently 11.9 percent).

The EU provides GSP+ preferences to create economic benefits that will help the Philippines to assume its responsibilities under core See “EU,” A2

UBS: US interest-rate hike to drag down PHL credit growth in 2015

U

By Genivi Factao

BS Securities Pte. Ltd. sees the peaking of US interest-rate growth may hinder the Philippines’s credit growth next year.

UBS’s Asia-Pacific economic perspectives saw rising private credit from nearly 10 percent in the latter stages of 2012 to 18 percent in 2013, and it stabilized at those levels in 2014. A combination of stabilizing credit growth and diminishing marginal returns indicates that the credit cycle might be peaking.

However, a pickup in US interest rates could retard credit growth in the Philippines in 2015.

“Easy monetary conditions should support the growth of credit-growth expansion in early 2015 before US dollar rates start to rise, but we do not expect to see acceleration in loan growth, as in 2013,” UBS analyst Edward Teather said.

UBS said bank-deposit growth has fallen sharply in 2014, from a peak of 37 percent year on year (YOY) to closer to 17 percent YOY in September, while the loan-to-deposit ratio has risen.

“Universal and commercial bank loans have grown at an average of 17.4 percent, but this is just matching the pace at end-2013,” UBS said.

Last year’s growth accelerated from close to 13 percent to 17 percent. The lack of acceleration indicates that the credit cycle may be peaking.

UBS sees monetary conditions sup-

porting the continuous uptrend in corporate credit to gross domestic product (GDP), although the impacts of increased credit on real GDP growth may be diminished.

“Domestic credit to GDP is rising, but is still at a moderate level compared to the 1990s boom period. External debt continues to fall relative to GDP. Consumer and corporate borrowings are growing at decelerating rates,” it said.

On the consumer side, real-estate lending is a key driver, while, on the corporate side, banks are providing more credit than the bond market.

The Bangko Sentral ng Pilipinas (BSP) tightened rules on bank lending to the real-estate sector, but reductions in interest rates since then will have encouraged an ongoing expansion in lending.

The constrained fiscal policy was one of the main reasons GDP growth disappointed in the third quarter.

UBS said lower inflation may mean that the BSP is unlikely to raise policy rates soon, but market rates are moving higher, consistent with less favorable financial-market conditions and higher US rates in 2015.

The Philippines will now struggle to meet its 6.5-percent to 7.5-percent growth target for 2014.

As a result, a budget revision has been passed, increasing the national budget by 15 percent to P2.6 trillion in 2015, and aiming to increase infrastructure outlay to 4 percent of GDP.

www.businessmirror.com.ph

briefs US stocks fluctuate after two-day big rally

NEW YORK—US stocks posted a slightly choppy morning session on Friday, after the Dow Jones Industrial Average logging its 700-point gain in past two days on the Federal Reserve’s soothing words on interest rates.

In midday, the blue-chip Dow dropped 7.04 points, or 0.04 percent, to 17,771.11. The S&P 500 rose 3.69 points, or 0.18 percent, to 2,064.92. The Nasdaq Composite Index added 11.75 points, or 0.25 percent, to 4,760.15.

On the previous trading day, the Dow marked its first 400-point gain since November 2011, and the S&P 500 witnessed the best day since January 2013, as investor sentiment was buoyed substantially by the Fed’s adjustment in describing its policy guidance.

The US central bank said it can be “patient” in beginning to normalize the stance of monetary policy, according to a statement released on Wednesday following the Fed’s last two-day policy meeting of this year, soothing anxious investors.

In absence of major economic data on Friday, investors were pondering if the snapback of stocks from the recent swoon came too fast and too strong, with the Dow and the S&P 500 climbing back toward their all-time highs set on December 5.

Overseas markets saw broad gains on Friday on speculations of increasing monetary stimulus by other major central banks.

Japan’s benchmark Nikkei index closed 2.39 percent higher at 17,621.40 points and Chinese Shanghai Composite Index surged 1.67 percent at 3,108.60. In addition, European stocks ended in mixed territory.

US stocks experienced a mild pullback earlier this month, as oil prices were hit hard and fluctuated around more-thanfive-year lows amid oversupply concerns.

PNA-Xinhua

‘US lawmakers could tackle tax reform in 2015’

WASHINGTON—US President Barack Obama said on Friday he thought lawmakers could agree to work on US tax code in the next Congress based on his talks with Republican leaders.

Obama said he has been speaking to House Speaker John Boehner and incoming Senate Majority Leader Mitch McConnell.

“They are serious about wanting to get things done. The tax area is one area where we can get things done,” Obama said during a year-end news conference at the White House.

“I’d like to see more simplicity in the system. I’d like to see more fairness in the system,” Obama said.

He reiterated the reform of the corporate tax to ensure fairness to companies and fix tax loopholes to prevent tax inversion, a practice by companies to switch their headquarters on paper but really headquartered in the US to avoid paying taxes.

“And early on, we indicated that there’s a way of us potentially doing corporate-tax reform, lowering rates, eliminating loopholes so everybody’s paying their fair share,” said Obama, adding that the Republicans share some of those principles.

But he cautioned “the devil’s in the details.” PNA-Xinhua

PET firms hit with antidumping duties

WASHINGTON—A US trade panel voted on Friday to extend antidumping duties on polyethylene terephthalate (PET) film, sheet and strip from China and the United Arab Emirates (UAE), after the first five-year review of the measures imposed initially in 2008.

The US International Trade Commission (ITC) voted against revoking the existing duty orders on PET film from China and the UAE, saying it “would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.”

The US Commerce Department is required to remove an antidumping or countervailing duty order, or terminate a suspension agreement, after five years unless the department and the ITC vote against it, according to the Uruguay Round Agreements Act.

PET film refers to a thermoplastic polymer resin of the polyester family and is widely used in containers for food and beverage, package wrappers, bottle caps and materials for liquid crystal display panels.

The US initially issued the antidumping duty orders on imports of PET film from China and the UAE in November 2008. The Commerce Department agreed to institute the first five-year review of the measures in October 2013 and the ITC voted to conduct full reviews in January 2014.

As a result of the ITC’s affirmative ruling, antidumping tariffs, ranging from 3.49 percent to 76.72 percent, will be reimposed on PET film from China, while the rate for products from the UAE will be placed at 4.05 percent.

Beijing has repeatedly urged Washington to honor its commitment against protectionism and work with China to maintain a free, open and just trade environment. PNA-Xinhua