BusinessMirror February 01, 2023.pdf

BSP: January inflation could still breach 8%

THE increase in commodity prices could still exceed 8 percent in January on the back of higher electricity and water rates as well as expensive domestic petroleum prices, according to the Bangko Sentral ng Pilipinas (BSP).

On Tuesday, BSP said inflation could settle within the range of 7.5 to 8.3 percent in January. This is still higher than the 8.1 percent posted in December 2022.

“Upward price pressures for the month are expected to emanate

from higher electricity rates, approved water rate rebasing, higher domestic petroleum prices, uptick in the prices of key food items, and the annual increase in sin taxes,” BSP said.

Meanwhile, BSP said the reduction in LPG prices as well as the peso appreciation could contribute to easing price pressures for the month.

“The BSP will continue to adjust its monetary policy stance at the necessary pace to prevent

the further broadening of price pressures and monitor emerging price developments closely in accordance with the BSP’s price stability mandate,” it added.

Standard Chartered: Inflation to ease

STANDARD Chartered Bank said, however there is reason to believe that inflation will cool this year due to base effects. Standard Chartered said inflation is expected to average 4.8 percent this year and

3.1 percent in 2024.

Nonetheless, the bank still expects the BSP to raise interest rates at least in the first and 50 basis points in the first quarter before cutting rates in the last quarter of the year.

In the second quarter, Standard Chartered Bank said, the BSP is expected to maintain interest rates but implement a 200-basis-point cut in the reserve

See “Inflation,” A2

’23 growth not seen to breach 6%

By Cai U. Ordinario @caiordinario

Local think tank First Metro Investment Corp.-University of Asia and the Pacific (FMIC-UA&P)

Capital Market Research expects GDP growth to average 6 percent this year, while Standard Chartered Bank said in a briefing on Tuesday that growth could settle at 5.3 percent in 2023 before increasing to 6 percent in 2024.

“The continued uptrend of revenge spending should spur increased economic activity and growth in 2023. On the other hand, the 2023 momentum should pave the way to offset inflation, through adjustments in interest rates, government subsidies, and the like,” FMIC-UA&P Capital

Market Research said in its latest Market Call report.

The local think tank said other growth drivers include infrastructure spending, as the budget of the Department of Public Works and Highways (DPWH) rose by 12.1 percent in 2023. Projects like the Metro Manila subway and NorthSouth Commuter line are expected to “gain greater traction” this year, it added.

FMIC-UA&P Capital Market Research said export earnings may not also sustain fast-paced growth and Overseas Filipino Worker (OFW) remittances would likely

See “Growth,” A2

Marcos eyes ₧1-B starting fund for housing subsidy

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand R.

Marcos Jr. is eyeing an initial P1-billion budget to jumpstart the proposed housing subsidy program of the Department of Human Settlements and Urban Development (DHSUD).

Marcos made the announcement while asking Congress to provide regular funding support for the housing goals of his administration.

“Once we find the finding source for it, we will probably al -

locate an initial 1 billion [pesos] to provide subsidy to our new tenants,” Marcos said at the groundbreaking ceremony of the Pambansang Pabahay Para sa Pilipino Housing (4PH) Project in Quezon City last Tuesday.

Last year, DHSUD Secretary Jose L. Acuzar said they have asked lawmakers for a P36-billion allocation for subsidies to be coursed through banks to help reduce the monthly payments of home buyers.

The initiative is part of DHSUD’s comprehensive plan to See “Housing,” A2

WORKERS wearing face masks sew fabrics at a textile factory in Huimin county in east China’s Shandong province. The outlook for the global economy is growing slightly brighter as China eases its zero-Covid policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. The International Monetary Fund now expects the world economy to grow 2.9 percent this year, better than the 2.7-percent expansion for 2023 that the IMF predicted in October. A big factor in the upgrade to global growth was China’s decision late last year to lift anti-virus controls that had kept millions of people at home.

The IMF said China’s “recent reopening has paved the way for a faster-than-expected recovery.’’ CHINATOPIX VIA AP

By Andrea E. San Juan

THE Management Association of the Philippines (MAP) said it is cautiously optimistic about 2023, adding that there needs to be a “high degree” of collaboration across industries and sectors.

“The bigger challenge before us will be recovery—not just in the economic front but also in the structural rebuilding of the fundamentals needed to address the impact of the digital transformation and the changed business dynamics in our government on

our respective organizations,” Benedicta Du-Baladad, President of MAP for 2023, said on Tuesday.

With this, the MAP president said this places an “enormous burden” on the business organization that will need “transformational” ideas and a “high degree of collaboration across industries and sectors.”

She noted that MAP can be the “linchpin” to generate ideas and help make cooperation happen.

Meanwhile, to back the business organization’s mission for

REVENGE spending or pent-up demand is one of the strongest growth drivers of the Philippine economy this year, but this rise in consumption would not be enough for GDP growth to exceed 6 percent this year.

PHL must ‘restart’ talks with Washington on GSP–envoy

By Lorenz S. Marasigan @lorenzmarasigan

convened in January 2023. Earlier last month, the US Congress faced a speakership debacle that left lawmakers incapable of passing legislation.

The GSP requires the approval of the US Congress to be reauthorized.

“Our trade attaché is working on pushing GSP,” Romualdez said. “We are working with trade attaché in Washington and other Asean members like Thailand and Vietnam for the renewal of GSP.”

Growth. . .

Housing. . .

Continued from A1

construct 6 million “decent and affordable” housing units by 2028.

The housing projects will be located in urban cities and are expected to reduce the number of informal settlers nationwide.

According to Philippine Ambassador to the US Jose Manuel Romualdez, the reauthorization of the GSP has been delayed due to several issues, including the election of a new US Congress as well as America’s “concentration” on a wider trade relation with the Asean bloc.

“The US is concentrating a lot of their efforts to have more economic activity with Asean Region that’s why we are trying to push ahead with the GSP despite the Indo-Pacific Economic Framework which is now being negotiated at this time,” he said.

A unilateral preferential trade

arrangement by the US with 122 beneficiary developing countries and least developed beneficiary countries, the GSP aims to promote economic growth, development, and trade by providing duty-free market access to about 5,000 products in the US.

It expired in December 2020.

“The GSP...has to go through the US Congress. We know the delays are mostly, I guess, with US Congress because of the new speakership issue, a new majority in the House. So we have to restart our talks with them,” Romualdez said.

The 118th Congress of the US

Last year, during President Marcos’s six-day visit to the US, Department of Trade and Industry Secretary Alfredo Pascual highlighted the importance of the GSP to the Philippines, as he sought US Secretary of Commerce Gina Raimondo’s support for the reauthorization of the trade deal.

Pascual has said that the Philippines had “high utilization rates of the GSP,” demonstrating a growing awareness and demand for GSP-listed export goods from the Philippines.

The trade deal ushers in tangible benefits such as job creation and skills development for the workers in the Philippines.

In 2021, the US ranked as the Philippines’s third-largest trading partner, the top export market destination, and the fifth-largest import supplier.

Marcos assured the projects will be “sustainable human settlements,” wherein residents will not only have “sturdy homes” but also access to amenities such as schools, markets, hospitals, economic opportunities, government services, and social activities.

DHSUD has star ted implementing the project in Cauayan, Isabela, and in Barangay Batasan Hills in Quezon City.

The housing project in Batasan Hills involves two high-rise buildings with more than 2,100 units to be given to the families of Batasan Tricycle Operators and Drivers’ Association members and informal settler families in Quezon City.

“ With all of these things said, we are still left with the fact that many of our beneficiaries would still not be able to afford the monthly amortization of these units,” Marcos said.

“S o the government is committed to secure the needed housing interest support for 2023,” he added.

Among the go vernment officials present at the groundbreaking in Batasan Hills were Acuzar, House Speaker Martin G. Romualdez, Presidential son and Ilocos Norte 1st Representative Ferdinand Alexander “Sandro” A. Marcos III, Quezon City 2nd District Representative Ralph Wendel P. Tulfo and Quezon City Mayor Josefina “Joy” G. Belmonte.

Inflation. . .

Continued from A1

requirement ratio (RRR) in the second quarter.

Further, in the fourth quarter, the bank expects the BSP to cut interest rates by 50 basis points.

Standard Chartered Bank expects the country’s policy rates to still be at 5.5 percent by the end of 2023 and be lower at 4.5 percent in 2024.

“Our assumption is the inflation starts to moderate to below 4 percent by the end of the third quarter and that will open the window for the BSP to then start cutting rates,” Standard Chartered Bank Economist Jonathan Koh said. “The real real policy rate by then based on our projections could be slightly above 3 percent.”

Local think tank First Metro Investment Corp.-University of Asia and the Pacific (FMIC-UA&P) Capital Market Research also expects inflation to slow this year.

However, it may not drop fast enough and only reach the BSP’s 2 to 4 percent target in the fourth quarter in the light of “elevated crude oil prices and sticky supply issues for food products.”

In the first quarter, the local think tank expects headline inflation to remain elevated at 7 percent. Larger decline in prices may not occur given that the country's food supply remains constrained; rice prices on the rise; and crude oil prices remaining elevated.

“The latest data show a good deceleration, even on a seasonally adjusted basis, and provide a fairly sound basis that inflation has peaked as BSP Governor (Felipe) Medalla has suggested,” FMIC-UA&P Capital Market Research, however, said.

In the World Economic Outlook Update released by the International Monetary Fund (IMF) on Tuesday, global inflation may have already peaked in 2022.

Global inflation is expected to fall to 6.6 percent in 2023 and 4.3 percent in 2024 from the annual average of 8.8 percent in 2022. These expectations remain above pre-pandemic levels of about 3.5 percent between 2017 and 2019.

Prices of fuel and non fuel commodities, the IMF said, have already led to slower increases in inflation in the United States, European and Latin America.

However, core inflation has not yet peaked in most economies and remains well above pre-pandemic levels. Core inflation measures the rise in prices exclusive of food and energy.

“It has persisted amid second-round effects from earlier cost shocks and tight labor markets with robust wage growth as consumer demand has remained resilient,” IMF said.

However, upside risks remain that could prompt central banks such as the BSP to continue tightening monetary policy.

The IMF said these factors include the escalation of the war in Ukraine could lead to higher inflation as well as a faster rebound in China's growth. These could also cause inflation to persist. Cai U. Ordinario

Continued from A1

only post a 3 to 5 percent growth this year.

“Q4 GDP expansion at 7.2 percent exceeded market expectations. Full-year growth of 7.6 percent, on the other hand, beat the government’s own revised projections. Record employment, higher infrastructure spending, exports and OFW remittances provided a rosier picture in an otherwise bleak scenario for the global economy,” the local think tank said.

Standard Chartered

MEANWHILE , Standard Chartered Bank Economist Jonathan Koh said consumption spending came through for the economy in the second half of the year and is expected to continue, but at a slower pace this year.

Data from the Philippine Statistics Authority (PSA) showed Household Final Consumption Expenditure (HFCE) grew 8.3 percent while Government Final Consumption Expenditure (GFCE) slowed to 5 percent in 2022.

Koh said the high inflation would likely mute the purchasing power of Filipinos. In 2022, high inflation already eroded Filipinos’ purchasing power.

PSA data showed the purchasing power of the peso fall by P0.0505 centavos to P0.8674 by end-2022 compared to P0.9179 at the end of 2021. This erosion of the purchasing power was the largest since 2018, when it declined by P0.0525 centavos.

This means every Filipino shelled out an additional P13.26 to buy goods worth P100 in 2022. Products worth P100 in 2018, the base year used to compute the Consumer Price Index (CPI), cost P113.26 last year.

“What drove the expenditure in the second half of last year in terms of consumer spending is really the reopening (of the economy). (But) that is probably going to normalize and will not be as supportive in 2023 versus the second half of 2022,” Koh explained.

Other risks to the outlook this year include expectations that remittances will not be able to support household consumption this year due to slowdowns experienced in host countries abroad.

Koh also said consumer sentiment is weakening and investment activities are expected to plateau in 2023. The tight monetary policy will also likely weigh down the country’s economic prospects this year.

IMF forecast

MEANWHILE , in a separate briefing on Tuesday, the International Monetary Fund (IMF) has also downgraded its growth forecast for the ASEAN-5 or Indonesia, Malaysia, Philippines, Singapore, and Thailand.

The region is not expected to post a growth of 4.3 percent in 2023 and 4.7 percent in 2024. In October, the IMF projected that the region’s growth would average 4.5 percent in 2023 and 4.9 percent in 2024.

“The forecast of low growth in 2023 reflects the rise in central bank rates to fight inflation—especially in advanced economies—as well as the war in Ukraine. The decline in growth in 2023 from 2022 is driven by advanced economies; in emerging markets and developing economies, growth is estimated to have bottomed out in 2022,” IMF said in the World Economic Outlook Report.

This forecast is consistent with the downgrade in growth expectations for emerging and developing Asia at 5.3 percent in 2023 and 5.2 percent in 2024.

Much of this is due to China, whose growth is projected to rise to 5.2 percent in 2023, reflecting rapidly improving mobility, and to fall to 4.5 percent in 2024 before settling at below 4 percent over the medium term amid declining business dynamism and slow progress on structural reforms.

MAP. . .

Continued from A1

this year, Du-Baladad unveiled MAP’s priority sectors, which she said are based on the major concerns of its members from the responses on a Quick Survey conducted in November 2022.

The results, she revealed, identified the top 10 issues ranked according to priority. In addition,  MAP noted that Ease of Doing Business remains to be a top concern.

Last November 17, 2022, the business organization conducted a quick survey among its members so that the incoming MAP Board of Governors can conduct programs and activities that will address their concerns.

Members were asked to pick at most 10 primary concerns for 2023. The areas or sectors to choose from in the survey were: Agriculture, Arts & Culture; Climate change; Competitiveness of local industries; Competitiveness of local government units (LGUs); Cyber Security; Data Privacy Protection; Dealing with LGUs; Diversity and Inclusion; Doing Business in other countries; Ease of Doing Business; Economy; Education; Energy; Entrepreneurship; ESG (Environmental, Social and Governance); Fiscal and Financial; Healthcare; Human Capital Development; ICT; Infrastructure; Innovation; Justice and the Rule of Law; Labor and Employment; Next Generation Leadership; Plastic Pollution; Public-Private Partnership; Shared Prosperity; Social Justice; Sports; Science, Technology, Engineering and Math promotion to students; Supply Chain Management; Sustainability; Taxation; Trade and Industry; Transportation; Urban Development; and water security.

However, the survey results show that MAP’s members choose to address these concerns for this year: Ease of Doing Business; Economy; Energy; Climate Change; competitiveness of local industries; Education; Agriculture; Infrastructure; ESG; and Dealing with LGUs.

Meanwhile, Du-Baladad told reporters on the sidelines of MAP’s 75th Inaugural Meeting on Tuesday that the business organization’s key legislative priorities for 2023 will be based on the 10 concerns of its members.

“The concerns of the business, [that’s where we come in], anything related to economy and business. There are 10 concerns of businesses and we will look into all those and we’ll try to support, look at it and see what we can do,” the MAP president said.

One of MAP’s missions is to advocate for reforms that “help shape a brighter future for the Philippines.”

Last June 29,2022, MAP submitted its recommendations for President Ferdinand R. Marcos Jr.

The business group earlier called on the President to address the country’s “urgent” education crisis; to upgrade the public health system to enhance the productivity of the agriculture and agribusiness sector; and to lower the cost of doing business, among others. (Full story here: https://businessmirror.com.ph/2022/07/07/mappushes-aggressive-export-development-plan-under-pbbmadministration/)

THE Philippines has to “restart” its talks with the United States for the reauthorization of the US Generalized System of Preferences (GSP), a mechanism that provides for duty-free exportation of select goods from the Philippines.

Govt provides hauling truck to sugarcane farmers’ group

By Jonathan L. Mayuga @jonlmayuga

THE Department of Agrarian Reform (DAR) announced having turned over to a group of sugarcane farmers based in North Cotabato a hauling truck worth P800,000.00 to increase sugar production and farmers’ income.

The Kabulacan Farmers Association of Matalam, North Cotabato received the hauling truck during simple turnover rites led by key officials of the DAR, the agency said.

DAR Secretary Conrado M. Estrella III has ordered field personnel to step up the provision of supportservices to small farmers.

With the farm machinery, the hauling demands of the 150 hectares of sugarcane plantation in Barangay Kabulacan is expected to increase, aside from the hauling requirements of other neighboring barangays.

Jenier Capindo, President of the Kabulacan Farmers Association, vowed to make the farm machinery an income-generating asset of the organization.

“This truck would greatly help us in bringing our products to the

milling plant on time and at a lower hauling fee,” Capindo said. She added that the farm machinery would not only serve them but also the neighboring communities, especially during the harvest and milling season.

“We would like to assure the DAR that the assistance given to us will be taken care of and managed properly,” Capindo said.

Aside from the hauling truck, the association was also provided with farm inputs for the demonstration farm and capability development training on climate change resiliency with a combined amount of P64,000.

Evangeline Bueno, Provincial Agrarian Reform Program Officer II, said the project is provided through funding support from the Major Crop-based Block Farming Project under the DAR’s “climate resilient farm productivity support” program.

“The provision of the hauling truck as a common service facility is aimed to improve smallholder farmers’ farm productivity and income while making them and their organization resilient to the adverse effects of climate change,” she said.

Cops, troops arrest alleged officials of NPA in GenSan

By Rene Acosta @reneacostaBM

POLICEMEN who were backed by soldiers arrested three alleged high ranking members of the New People’s Army guerilla organization in General Santos City on Sunday evening.

A belated report reaching Philippine National Police chief General Rodolfo Azurin Jr., identified the suspects as Ruben Saluta, Presentacion Saluta and Yvonne Losaria.

T he three were arrested at Barangay Labangal, General Santos City at around 9 p.m. by members of the PNP Criminal Investigation and Detection Group.

A zurin said the policemen served multiple warrants of arrest for rebellion, murder, frustrated murder,

Ahead of Marcos’s State Visit to Japan, DOJ vows to act on deportation issues

By Joel R. San Juan @jrsanjuan1573

JUSTICE Secretary Jesus Crisp -

in Remulla assured the Japanese government last Wednesday that the Department of Justice (DOJ) will expeditiously seek the removal of all legal obstacles to the deportation of four Japanese nationals before the state visit by President Ferdinand Marcos Jr. to Japan in the middle of February.

T he four Japanese detainees currently under the custody of the Bureau of Immigration (BI) are being sought by Tokyo for deportation for their alleged involvement in various crimes in Japan.

The Japanese government has taken a keen interest on a certain “Luffy” who is believed to be one of the four detainees and believed to be the ringleader of a robbery group responsible for a series of robberies in Japan.

According to reports, “Luffy” gave instructions to his cohorts through an encrypted messaging app while under detention in Taguig.

During a news briefing last Monday, Remulla said two officials from the Japanese embassy went to the

DOJ in the afternoon of January 30 to relay the request of their government to have the found Japanese detainees repatriated and deported to Japan.

Remulla, however, noted that three of them still have criminal cases pending in various courts.

Most of the cases, according to Remulla, involved crimes under the VAWC (Anti-Violence Against Women and Children) Law (Republic Act 9262).

Limited time

REMULLA noted that the government cannot deport anybody with pending criminal cases.

“We will deport who we can deport legally. When the request came yesterday, we were working on limited time. But my commitment to everybody is we will deport who we can deport immediately,” Remulla said.

“It’s a better way to treat it because we do not want this trip to be marred by other questions. We want the state visit to be the more important matter rather than of course the narrative of crime stories,” he added.

Remulla said he expects these cases to be solved within the next

multiple murder that were issued by a local court in Antique.

“I would like to commend our personnel in CIDG who are continuously hunting these criminals to prevent them from committing other hideous crimes and ensure the security of the public,” Azurin said.

“The arrest of these wanted persons is a step closer to our desire to keep our communities safe and secure from armed terrorists who are being sought by the law for crimes,” he added.

The PNP accused Ruben Saluta as being the secretary of the National Propaganda Commission, CPP Central Committee, and former secretary of Panay Regional Party Committee.

The police, meanwhile, alleges that Presentacion heads the Komiteng Rehyonal Panay (KR- Panay).

Authorities also accuse Losaria of

few weeks or prior to the trip of the President.

He also expressed the possibility that the criminal cases filed against these Japanese detainees were fabricated to prolong their stay in the country.

“But we are of the impression that these cases were invented or are not real cases. There were contrived cases filed against them just to keep them in the Philippines. They just use this law because it is a very, very well debated law and a very, very popular law among activists that’s why they use the law to file against the Japanese subjects,” Remulla said.

Going after lawyers

IN light of this, the DOJ chief vowed to go after lawyers who conspired with foreign nationals with pending deportation orders by filing contrived cases in order to prevent their deportation.

“This is part of the corruption ring that operates within the BI. All of these legal services being offered by law offices do not stop at tactics which are not supposed to be used in cases like this but many lawyers think it is okay to do that,” Remulla said. “The DOJ will not tolerate be-

Authorities seize vessels for alleged oil smuggling

ACOMBINED team of policemen and soldiers seized two vessels, one of them from Malaysia, in the island province of Tawitawi due to alleged oil smuggling.

T he operation was carried out by elements of the 112th Marine Company and policemen at Lihiman Island, Taganak, Turtle Islands, Tawitawi over the weekend.

M arine Brig. Gen. Romeo T. Racadio, commander of the Joint Task Force Tawi-tawi, said the operation was carried out by Marine forces and members of the Taganak Municipal Police Station after they received information that an illegal loading of diesel oil was ongoing in the barangay.

As such, troops of the 112th Marine Company, the PNP Maritime Police and the PNP Turtle Islands were dispatched to the area to validate the information.

While approaching the area, the operating troops sighted two vessels, the Malaysian Marnia Penang and a local vessel named Jaslyn Stacy Legazpi, that were anchored at Lihiman Island.

Racadio said the Marnia Penang sailed from Deojor, Malaysia, with 16 crew members onboard to illegally unload 400,000 liters of diesel to the local vessel, which is from Navotas, Metro Manila.

Jaslyn Stacy Legazpi has 13 crew members onboard.

Racadio said that based on their investigation, the two vessels have been anchored in the seawaters of Lihiman Island for three days before they were apprehended.

Rodrigo Sarol, the boat captain and manager of the motor tanker Jaslyn Stacy Legazpi revealed the vessel linked up with the foreign vessel in the area to load diesel, and they are still waiting for another vessel loaded with additional 200,000 liters of diesel to arrive.

The Operating troops escorted the intercepted vessels to Taganak Pier and turned them over to the Philippine Coast Guard in Turtle Islands for proper disposition. Rene Acosta

Qur’an readers romp away with plum prizes New PUV models to ply Digos City-Bansalan route

DAVAO CITY—Three Qur’an readers were P100,000 richer last week after emerging as champions in the annual Qur’an reading competition held in Cotabato City.

S adhan Zacaria and Muzaher Bito, both representing the Second School District of Maguindanao (Maguindanao II), and Najaah Kadafie of Lanao del Sur II received P100,000 each for being champions in their respective category.

Zacaria was champion in Qur’an recitation, or Al-Mujawwadah, and Bito in Qur’an memorization of Tahfeez, both in the male category, and Kadafie in Qur’an memorization.

Kadafie was also hailed as a Hafidha, or someone who has not only learned to read the Qur’an but has memorized and retained its verses according to the book.

The competition was the third to be organized the Ministry of Basic, Higher and Technical Education (MBHTE) through its Directorate General for Madaris Education (DGME).

Participants from Maguindanao del Sur and Lanao del Sur were hailed

as winners of the recently concluded region-wide 3rd Qur’an recitation and memorization competition for male and female categories held here at the Shariff Kabunsuan Cultural Complex (SKCC), Bangsamoro Government Center, from January 20 to January 22.

Qur’an reading

THE annual competition is part of the Bangsamoro Government’s commitment to promote the value of Qur’an reading among the Bangsamoro people, officials said.

T he champions of the competition received certificates and cash prizes worth P100,000.00 while the first placers took home P75,000.00, followed by the second placers with P50,000.00.

T he following are the list of winners:

Qur’an recitation (Al-Mujawwadah): Champion, Sadhan Zacaria (Maguindanao II); first place, Kamaroddin Zaidon (Cotabato City); and, second place, Ahmad Muhammad Nazir Asgar (Lanao del Sur II)

Qur’an Memorization (Tahfeez)

Male Category: Champion, Muzaher Bito (Maguindanao II); first place, Mohammad Asiddin (Basilan); and, second place, Abduljalal Hassan (Maguindanao II)

Qur’an Memorization (Tahfeez)

Female Category: Champion, Najaah Kadafie (LDS II); first place, Rohaima Guiafar (LDS I); and, second place, Fairods Zacaria (Maguindanao II)

Way of life

NAJAAH Kadafie, 14, is from Maa’had Amal in Marantao, Lanao del Sur. Kadafie expressed her gratitude to the Bangsamoro government for allowing them the opportunity to compete.

“Maliit pa ako ay itinuro na sa akin ang Qur’an hanggang sa ito na ang nakasanayan ng aking puso,” Kadafie said. [The Qur’an was taught to me when I was still a child and it has become my way of life.]

I n the awarding ceremony, Education Minister Mohagher Iqbal emphasized “the essence of promoting Qur’an literacy and teaching its recitation, and memorization to every Muslim.”

DAVAO CITY—The government’s “Public Utility Vehicle Modernization” (PUVM) program would test its new models of passenger vehicles from Digos City to the western boundary town of Bansalan.

T he Land Transportation Franchising and Regulatory Board (LTFRB) XI launched last week eight of 15 Class-3 Modernized UV Express to ply the Digos City, the capital of Davao del Sur and Bansalan, the boundary town to North Cotabato in its west.

T he route would pass through Barangay Kapatagan, formerly classified as a protected area and currently a resort and vegetable-growing area. The new vehicles are operated by the Kapatagan Transport Cooperative (Katco) of Barangay Kapatagan, Digos City.

LTFRB XI Director Nonito Llanos said the new passenger units would start at Aplaya, Digos City through Kapatagan and

havior like this from lawyers. He vowed that the DOJ will file the disbarment of lawyers “who insist on using these tactics that will delay the proceedings.”

Remulla also said heads will roll soon in the Bureau of Immigration after it was discovered that detainees are being allowed to use gadgets such as cellular phones while inside its detention facilities.

Video footage of the detainees, according to Remulla, showed some of them recording videos and posting them in their social media pages using their gadgets.

“The Bureau of Immigration has confiscated several telephones and one of the Japanese nationals had six iPhones in his possession. This is a subject of an investigation now within the Bureau of Immigration because these cannot be tolerated,” Remulla said.

“This reeks of corruption and the people who are responsible for the behavior of all the people under the detention will be dealt with severely once proven that they did not do their jobs in ensuring that the use of communication tools are only used for lawyers and family calls,” Remulla said.

BARMM

solon seeks curfew on minors

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

DAVAO CITY—A Bangsam-

oro member of Parliament has proposed a legislation seeking to curtail the movement of minors during the wee hours of the night and prevent them from the danger of abuse and getting forced to do criminal activities.

Baintan Adil-Ampatuan, an engineer by profession, also filed a legislative measure at the Bangsamoro Transition Authority (BTA) requiring mandatory social preparation of development projects.

to Poblacion Bansalan, covering 17 kilometers.

The new route was included in the Local Public Transport Route (LPTR) plan of the provincial Government and it was approved in a Sangguniang Panglungsod Ordinance 21-105 on October 4, 2021.

The ordinance was based on the LTFRB Memorandum Circular (MC) 2022-019, which opened for application to the Katco cooperative to ply the route. The application was approved on April 25, 2022.

The Katco acquired the new passenger vehicles through a subsidy from the LTFRB program and assisted financially by the Development Bank of the Philippines and Land Bank of the Philippines.

The PUVM program assured that the new vehicles would provide comfortable and reliable ride aside from its being environmentfriendly transportation and a long term source of income for the cooperative. Manuel T. Cayon

Study highlights need for new mining law for transition to RE

THERE’S a need for a new mining law that will regulate the management of strategic minerals needed for the country’s transition to renewable energy (RE).

“Congress should pass the Alternative Minerals Management Bill (AMMB), which proposes a transformation of the

present minerals regime by balancing the need for minerals with environmental, social, and economic considerations,”

Legal Rights and Natural Resources Center (LRNRC) Advocacy Coordinator Maya Quirino said, citing a recent study by the group. “The bill is anchored in the climate justice discourse and rationalizes

mining under a national industrialization framework, where only strategic minerals will be mined.”

Titled “Toward a Just Minerals

Transition in the Philippines,” the nongovernment group’s research paper noted that the Philippines currently produces chromium, cobalt, copper,

nickel, and silver—minerals necessary for the production of RE technology.

In 2020, the Philippines was the second biggest producer of nickel in the world at 14 percent of the total supply. It is also the world’s fourthlargest copper and cobalt reserve. T he study notes, however, that the

current mining policy regime has resulted in 60 percent of all mineral reserves and 49 percent of all mining projects being in conflict with ancestral domains. It also cited various reports where the extractives sector was linked to a third up to half of the cases of environmental defender killings. Jonathan L. Mayuga

A mpatuan filed BTA Bill 94, which seeks to promote the safety and welfare of Bangsamoro minors by establishing general guidelines for curfew implementation in the region. “ It is important to limit minors’ movement, particularly at night, in order to safeguard them from harmful situations like violence, exploitation, abuse, cruelty, and neglect,” he said in the introduction of the bill. He said minors would be subject to a curfew from 10 p.m. to 4 a.m. to prevent them “from loitering, wandering, staying, meandering, or being in public locations during curfew hours.”

It also prohibits parents and guardians from allowing their children to be on the streets during designated curfew hours, he added.

T he bill said minors are only permitted to go out beyond curfew hours if: they are accompanied by or have written authorization from their parents, guardians, or the proper authorities to run errands; they are attending graduation ceremonies, religious activities, and extracurricular school activities; they are in emergency situations such as conflagrations, earthquakes, hospitalization, road accidents, law enforcement encounters, and other similar incidents; they are going or returning home from work; they are in any mode of transportation accompanied by an adult; and they can present papers certifying that they are working students.

Govt urged to avoid ‘fire sale’ in disposing assets

By Jovee Marie N. Dela Cruz @joveemarie

GOVERNMENT’S reported plan to sell off its non performing assets (NPAs) should be “curated well” so it would

not lead to a “fire sale” of state-owned land, businesses and franchises, a leader of the House of Representatives warned on Tuesday.

Deputy Speaker Ralph G. Recto said the government should be careful on its plan, saying “the rule in privatization is that we should not

be selling the geese that lay the golden eggs.”

“ We should be careful that what remains of state crown jewels are not included in a baratilyo sale simply because we are raising funds for a project,” Recto said.

In inventorying what can be sold, the law-

maker said the strategic value of a company “should come ahead of the chance to make a fast buck out of the sale.”

“ We have a stewardship role to play for the next generation,” he said.

However, Recto also mused that if “derelict assets” are successfully auctioned off, proceeds should be earmarked for “activities high in both social and financial ROIs [return on investments], like housing.”

Recto said the microscopic share of shelter agencies to the national budget—less than 1/10th of 1 percent—prompts the use of “off-budget sources” to wipe out the estimated 6.658 million housing backlog.

The Department of Housing, Shelter and Urban Development and its attached agencies account for P4.7 billion of the P5.26 trillion national budget this year.

At P1 million per unit, the DHSUD said it would require P6.658 trillion to erase the shelter deficit.

R ecto said the land required alone for the 6.658 million units is about 61,000 hectares, “which is about 15 times the land area of Manila.”

T he lawmaker said building up the shelter inventory in numbers not seen before is not mission impossible under the Marcos administration.

One, you have as Secretary of Housing a proven builder, the first time in history,” he said. “Second, housing is in the legacy agenda of President [Ferdinand R. Marcos Jr.] because he has to do better than her mom, who built those BLISS [Bagong Lipunan. (New Society) Improvement of Sites and Services] condos, which remain a good template for mass housing,” Recto said.

Luxury Tax bill to address failure to levy ‘super-rich’

THE chairman of the House Committee on Ways and Means has filed the “Luxury Tax Bill” with potential revenues of P15.5 billion.

In filing House Bill 6993 last Monday, Albay Rep. Joey Sarte Salceda said the single most crucial flaw of the country’s tax system is its failure to tax the rich.

This failure exacerbates inequality and promotes the concentration of financial resources crucial to the economy in the hands of very few individuals,” said Salceda.

I n response to this socioeconomic condition, the economist-lawmaker said the international and national organizations have recommended wealth taxes based on the net worth of so-called “super-rich” individuals.

“ While morally sound, the practical problem with a wealth tax based on net worth is that capital is extremely mobile, and many countries offer ‘tax-haven’ passports to extremely wealthy individuals,” he added.

According to Salceda, the Philippines also has limited means to track wealth hidden in other countries.

T he Senate has not ratified the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (CMAT/MCMAAT), which the Philippines signed in 2014.

“ This means we cannot invoke automatic exchange of information in tax jurisdictions where we suspect wealth of Filipino super-rich individuals are deposited. Absolute bank secrecy especially for foreign currency deposits will make enforcement very difficult if wealth is denominated in currencies other than the peso,” Salceda explained.

Luxurious consumption

ACCORDING to Salceda, “much of the estimated net-worth is in market-valued financial securities” and that the perceived value of these instruments changes every day.

T he lawmaker added that the easiest way to tax wealth is through con -

spicuous or luxurious consumption and through taxation of immovable assets like lands.

According to the lawmaker, “consumption taxes can be imposed at the point of importation or sale, making them easier to enforce.”

“Similarly, property taxes on immovable assets are difficult to evade,” he explained. “An increase in real property tax rates across the board will be painful and counterproductive, but proper valuation of luxury real estate [such as those in gated subdivisions and golf courses] will help increase revenues and make the tax system more progressive.”

S alceda said his measure sees a non-essential good as a good whose prices are beyond the reach of the bulk of consumers, and which are not significant or important inputs to other value-adding industries.

T he lawmaker said this measure also increases the non-essentials goods tax rate from 20 percent to 25 percent.

Non-essentials goods

THE revenue potential of major items like luxury watches, luxury cars, private jets, sale of residential properties above P100 million, beverages above P20,000 and leather products above P50,000 could reach P15.5 billion at 25 percent rate with P62.1 billion estimated sales.

Salceda said the non-essentials goods tax will be on top of all other taxes.

The tax on luxury cars, for example, will be on top of the automotive excise tax, which is arguably a pollution and congestion tax but not yet a luxury tax.

The tax on luxury residential properties will be on top of VAT and other taxes on its sale,” he explained.

T he bill seeks to amend Section 150 of the National Internal Revenue Code, as amended.

T he measure also directs the Department of Finance to issue the rules and regulations necessary for the implementation of this proposal within 30 days from its effectivity. Jovee Marie N. Dela Cruz

Ex-Navy officer: China’s new tack is ‘coopting’ PHL execs

By Rene Acosta @reneacostaBM

ARETIRED Navy official has warned of China’s continuing effort to secure a foothold in the country by allegedly “coopting” key officials of the Department of National Defense, senior officers of the Armed Forces of the Philippines and other government officials.

T he warning was issued by retired Rear Admiral Rommel Jude Ong during a closed-door forum organized by the Stratbase ADR Institute on Tuesday, where he called Beijing’s move a “political warfare” designed to support its illegal claims of the West Philippine Sea.

“Former President Duterte’s pivot to China did not gain traction because of the pushback from the DND and the Navy. Beijing realized this, which explains why the CCP [Chinese Communist Party] is pushing President Marcos Jr. to set up talks with the AFP and to strengthen defense cooperation between the two countries,” Ong said.

The Chinese embassy fired the operating salvo by hosting an alumni event for AFP officers trained in China. Referencing the Chinese playbook on influence operations, in their mind, the only way they can establish

Marcos names Valenzuela rep Rex Gatchalian DSWD chief

PRESIDENT Ferdinand R. Marcos Jr. appointed Valenzuela City First District Representative Rexlon “Rex” T. Gatchalian as the new secretary of the Department of Social Welfare and Development (DSWD).

Marcos administered the oath of office of Gatchalian in Malacañang on Tuesday during the 72nd anniversary of DSWD.

Gatchalian replaced former Social Welfare Secretary Erwin T. Tulfo.

Prior to his stint in Congress, Gatchalian also served as mayor of Valenzuela City.

During his administration, Valenzuela City received recognition for having one of the Top 10 Outstanding Local Governance Programs under the Galing Pook Awards in 2021. He is also a younger brother of Sen. Sherwin T. Gatchalian.

Marcos, meanwhile, urged the agency to continue “calibrating” its flagship Pantawid Pamilyang Pilipino Program (4Ps).

Marcos gave the instruction during his speech at the DSWD anniversary rites its head office in Quezon City last Tuesday.

He stressed the importance of improving the program, which he noted will be crucial for the government targets to reduce the country’s poverty incidences.

“Continue calibrating the Pantawid Pamilyang Pilipino Program and strengthening the government’s social protection initiatives, especially since one of the measures we undertake to address poverty is through the grants that we provide for the health needs of every household and education of our children,” Marcos said.

Under the Philippine Development Plan (PDP) 2023-2028, the government is targeting to bring down poverty incidence in the country to 8.8 to 9 percent in the next five years.

L ast year, former DSWD Secretary Erwin T. Tulfo already raised the need to fine-tune the implementation of 4Ps since some of its beneficiaries were using their grant in gambling.

T he 4Ps is the government’s poverty reduction initiative, which provides qualified extremely poor beneficiaries grants to help improve their health, nutrition and education.

T he flagship program will get the bulk or P102.61 billion of the DSWDs P151 billion budget this year. Samuel P. Medenilla

a secure foothold in the country is by coopting key officials of the DND and senior officers in the AFP,” he added.

Ong’s warning came just after a Chinese Coast Guard vessel drove away a Filipino fishing boat in Ayungin Shoal on January 9, 2022, just several days after President Ferdinand Marcos Jr.’s state visit to China.

Ong pointed out that a successful cooptation of political elites through influence operations seriously impacts the country’s maritime interests.

At the national level, Beijing can insinuate itself in decision-making and disrupt the country’s security posture in the WPS,” the former Navy official said.

Case in point: to ‘prevent a war with China, Duterte did not allow the Navy to conduct patrols in the EEZ, secure vessels surveying the service contract areas off Palawan and participate in bilateral patrols in the WPS with the US Navy,” he added.

During his talk, Ong said the United States or Australia should be “encouraged to take a lead role in discussing the ways to mitigate foreign interference to take a lead role in discussing the ways to mitigate foreign interference in the guise of cooptation of political, business, and military elites, strategic corruption, disinformation, and cyberwarfare, among others.”

Agencies told to ready tourism data, VRST impact on revenue

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

ALAWMAKER is asking the Department of Finance (DOF) to break down the Malacañangapproved tax refund scheme for foreign tourists and its possible impact on government revenues.

Senator Nancy Binay, chair of the upper chamber’s Committee on Tourism, welcomed programs to boost the recovery of the tourism industry and described the value-added tax refund scheme for tourists (VRST) as a “promising step in encouraging tourists to consider the Philippines in their travel plans.”

However, she wants the DOF to detail how exactly the scheme will be implemented: “We want to see the numbers and important details like how the DOF plans to roll this out, the administrative costs, the projected losses in collection, its impact and benefits to small- and medium-scale retailers, etc.… Although we are not a shopping mecca like Dubai or Hong Kong, we want our foreign guests to

have a pleasant experience and the ease of traveling and shopping in the Philippines, to encourage them to return.”

President Ferdinand R. Marcos Jr. will be issuing an executive order to implement the VRST in 2024, based on recommendations by the Private Sector Advisory Council Tourism Sector. Under the law, sales of Philippine goods and services are imposed a VAT of 12 percent. (See, “Manila dangles VRST, E-visas to tourists,” in the BusinessMirror , January 30, 2023.)

Biggest spenders?

BINAY also said the Department of Tourism (DOT) should have detailed reports on visitor receipts and determine which nationalities or travel groups spent the most, “so we can implement a targeted and strategized promotion for our country as an alternative shopping destination. It would be nice to see the Philippines as a shopping destination and showcase our premium local brands. Data and studies are important since marketing should be anchored to the

behavioral approach of tourist buying decisions.”

She suggested more incentives be given to local entrepreneurs and companies, which produce “Gawang Pinoy” (Made by Filipinos) items instead of giving them to stores, which sell imported products. “I think this will best complement the VAT refund program,” the lawmaker told the BusinessMirror in a mix of Filipino and English.

A s this developed, the Hotel Sales and Marketing Association (HSMA) on Monday agreed the VRST and the e-visa upon arrival for select foreign nationals will be a boon to the tourism industry. “It will definitely help [boost tourist arrivals],” said HSMA president Loleth So, especially the tax refund scheme for shoppers, citing the experience of many in Singapore where the gross sales tax refund scheme is practiced.

Travel exchange

IN a news conference, HSMA officers also noted that the Philippines has only recovered “67 percent” of the business traveler market.

So, however, cited the development of a strong Business-Leisure Market after the pandemic, as many tourists now combine both pursuits. “Why? For one, they’re really trying to be more practical, and economical. So they would rather go one time and stay a longer duration. They come in Manila and experience our hotels, stay for two nights, then jump off somewhere else for a beach destination. Then they come back to Manila and stay in another hotel. The Business-Leisure travelers become innovative and maximize their budget and also their time.”

T he HSMA and the Philippine Tour Operators Association (Philtoa) signed a memorandum of agreement to hold a joint travel trade fair on March 28 and 29 at the Manila Marriott Hotel, exclusively for their active members. Under the terms of the MOA, members of the HSMA will be sellers at the travel exchange, Philtoa members will be the buyers. HSMA has about 150 member-hotels nationwide, while Philtoa’s members include 350 tour operators and destination management companies.

Accord seen to boost MLA-Moscow biz ties

Pavlov said the agreement will allow the Philippines to showcase its tourism program to Muscovites, who will appreciate the country’s thousand islands. Filipino tourists in turn will also be able to see the transformation in Moscow, which has been adjudged as the No. 1 city in the world as per the UN Habitat’s City Prosperity Index.

M oscow government minister Sergey Cheremin said the Russian city was ahead of Hong Kong, Paris, London and Madrid in the UN agency ranking as a result of the innovations that Mayor Sobyanin made to the city when he assumed office in 2018. The innovations included the establishment of more parks, business-friendly initiatives, and the use of electric buses.

Cheremin said that small and me -

dium enterprises were encouraged, 40 IT parks were put up that earned $30 billion a year for the city, 200 kilometers in Metro subway lines were added with up with 100 stations, to allow for greater mobility for Muscovites, 85 percent of whom are now within walking distance of subway stations.

O ther innovations introduced in Moscow, which is debt-free and contributes $330 billion in gross domestic product to Russia, are free Wi-fi for buses and other places and more playgrounds. As a result, the city has been cited as one of the cleanest metropolises in the world even as it attracts foreign direct investments to the tune of $250 million. This resulted in the country being insulated from the effects of sanctions imposed before.

A ccording to the forum moderator Vladimir Platonov, president of the Moscow Chamber of Commerce and Industry, the development and maintenance of a productive dialogue between the Russian capital and its partners in Southeast Asia is becoming an even more important area of international activity for the Moscow government.

PHL digital tech

DURING the forum, Department of Information and Communications Technology Undersecretary Ms. Anne Mae Lamentillo shared the Philippines’ thrust in digital technology, a possible source of partnership deals between the businessmen of the two cities.

L amentillo unveiled the country’s “digital agenda” that seeks to

promote a government ecosystem that assures better governance, no red tape, and higher quality of service.

S he said the DICT has already pilot-tested an end-to-end registration of business firms, payment of real estate tax and civil registry in 25 municipalities. Ultimately, the project involves all the 906 local government units in the country.

T he digital agenda will “result in no more long lines” in the citizens’ dealings with the LGUs and includes also a digital citizens program and a “robust start-up ecosystem.”

T he other areas of concern for DICT include fast-tracking the interconnectivity of unserved and underserved LGUs, as well as pushing for better internet service for more contact centers and business-

continued from a20

process outsourcing firms locating in the country.

L amentillo said DICT is also pushing support for more creative industries in the country in order to allow for more revenues for the government. “These highvalue services,” Lamentillo said, include data analytics, health care, animation and enhanced ICT sector.

O ther speakers in the forum were Uno Lim, chairman of the Committee on International Affairs of the City of Manila; Maurice Leroy, vice president of the Mosinzhproekt JSC for International Relations; Olga Pischikova, head of the Department of Transport and Road Infrastructure of Moscow and Vitaly Stepanov, head of the Moscow Export Center, who made his presentation online.

Pakistan’s worst suicide bombing in years kills 80 people at mosque

By Ismail Dilawar & Kamran Haider

Rescue workers from the philanthropic Edhi Foundation had counted at least 80 bodies by Tuesday morning, said Inquilab Khan, a shift supervisor at the agency. The toll could rise because several critically injured people were spread out between several hospitals, he added. Usually, around 300 to 400 people from different offices gather for prayers each day at the mosque located inside an area where the city’s police headquarters and other government offices are located, Peshawar’s police chief, Mohammad Ijaz Khan told reporters. The city is the capital of Khyber Pakhtunkhwa province, which shares a border with Afghanistan and has been the scene of some of the worst violence that Pakistan

has seen over the last many years.  The death toll was the highest since a 2018 attack at an election rally by the Islamic State group in the neighboring province of Balochistan that killed at least 159 people.

After a period of relative calm, there’s been a spike in violence in Pakistan since the Taliban seized power in neighboring Afghanistan last year. The Tehreek-e-Taliban Pakistan or TTP, a militant group with links to the Afghan group, ended a cease-fire with the government in Islamabad in November and announced a resumption of attacks across the nation.

The increasing terror attacks are the latest headache for Prime Minister Shehbaz Sharif as the South Asian nation’s economy

spirals deeper into crisis amid a shortage of dollars and accelerating inflation, increasing the urgency for the government to secure a $6.5 billion bailout package from the International Monetary Fund. A team from the multilateral lender arrived Tuesday for a loan review after months of delay over the next tranche.

Part of the country and the northwestern province is “in a state of war,” Defense Minister Khawaja Asif told Geo TV in an interview after the blast, adding that he would reach out to the

government in Kabul and “ask them to control their allies.”

Peshawar was also the scene of a 2014 attack by the TTP on an army school that killed 150 people, many of them children.

The group has denied claim for the latest mosque blast and the Afghan Ministry of Foreign Affairs tweeted a message of condolence.

According to the Islamabadbased Pakistan Institute for Conflict and Security Studies, militant violence spiked by 22 percent in 2022 compared with 2021. Bloomberg News

IMF raises 2023 growth outlook for the global economy to 2.9%

By Paul Wiseman AP Economics Writer

WASHINGTON—The outlook for the global economy is growing slightly brighter as China eases its zero-Covid policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine.

That’s the view of the International Monetary Fund, which now expects the world economy to grow 2.9 percent this year. That forecast is better than the 2.7 percent expansion for 2023 that the IMF predicted in October, though down from the estimated 3.4 percent growth in 2022.

The IMF, a 190-country lending organization, foresees inflation easing this year, a result of aggressive interest rate hikes by the Federal Reserve and other major central banks. Those rate hikes are expected to slow the consumer demand that has driven prices higher. Globally, the IMF expects consumer inflation to fall from 8.8 percent last year to 6.6 percent in 2023 and 4.3 percent in 2024.

“Global conditions have improved as inflation pressures started to abate,” the IMF chief economist, Pierre-Olivier Gourinchas, said at a news conference in Singapore. “The road back to a full recovery with sustainable growth, stable prices and progress for all has only started.”

A big factor in the upgrade to global growth was China’s decision late last year to lift anti-virus controls that had kept millions of people at home. The IMF said China’s “recent reopening has paved the way for a fasterthan-expected recovery.’’

The IMF now expects China’s economy—the world’s second biggest, after the United States— to grow 5.2 percent this year, up

from its October forecast of 4.4 percent. Beijing’s economy eked out growth of just 3 percent in 2022—the first year in more than 40, the IMF noted, that China has expanded more slowly than the world as a whole. But the end of virus restrictions is expected to revive activity in 2023.

Together, China and India should account for half of this year’s global growth, while the United States and Europe contribute 10 percent, according to Gourinchas.

“China’s reopening is certainly a favorable factor that’s going to lead to more activity,” Gourinchas said. “But this is in the context in which the global economy itself is slowing down.”

The IMF’s 2023 growth outlook improved for the United States (forecast to grow 1.4 percent) as well as for the 19 countries that share the euro currency (0.7 percent). Europe, though suffering from energy shortages and higher prices resulting from Russia’s invasion of Ukraine, proved “more resilient than expected,’’ the IMF said. The European economy benefited from a warmer-than-expected winter, which held down demand for

natural gas.

Russia’s economy, hit by sanctions after its invasion of Ukraine, has proved sturdier than expected, too: The IMF’s forecast foresees Russia registering 0.3 percent growth this year. That would mark an improvement from a contraction of 2.2 percent in 2022. And it’s well above the 2.3 percent contraction for 2023 that the IMF had forecast for Russia in October.

The United Kingdom is a striking exception to the IMF’s brighter outlook for 2023. It has forecast its economy will shrink 0.6 percent in 2023; in October, the IMF had expected growth of 0.3 percent. Higher interest rates and tighter government budgets are squeezing the British economy.

“These figures confirm we are not immune to the pressures hitting nearly all advanced economies,’’ Chancellor of the Exchequer Jeremy Hunt said in response to the IMF forecast. “Short-term challenges should not obscure our long-term prospects—the UK outperformed many forecasts last year, and if we stick to our plan to halve inflation, the UK

is still predicted to grow faster than Germany and Japan over the coming years.”

The IMF noted that the world economy still faces serous risks. They include the possibility that Russia’s war against Ukraine war will escalate, that China will suffer a sharp increase in Covid cases and that high interest rates will cause a financial crisis in debtladen countries.

Asked about the impact of US efforts to limit Chinese access to advanced processor chip technology due to security concerns, Gourinchas cautioned that curbs on semiconductor trade and government pressure to pull back industries to within their own borders and limit reliance on foreign partners “potentially could be harmful to the global economy.”

“Diversification of supply chains is much more important in trying to improve resilience, improve growth, improve standards of living, rather than moving toward re-shoring or ‘friend shoring,’” Gourinchas said.

The global outlook has been shrouded in uncertainty since the coronavirus pandemic struck in early 2020. Forecasters have been repeatedly confounded by events: A severe if brief recession in early 2020; an expectedly strong recovery triggered by vast government stimulus aid; then a surge in inflation, worsened when Russia’s invasion of Ukraine nearly a year ago disrupted world trade in energy and food.

Three weeks ago, the IMF’s sister agency, the World Bank, issued a more downbeat outlook for the global economy. The World Bank slashed its forecast for international growth this year by nearly half—to 1.7 percent—and warned that the global economy would come “perilously close’’ to recession. AP Business Writer Joe

THE worst suicide bombing in over four years tore through a mosque in a high-security compound in northwestern Pakistan’s Peshawar city killing at least 80 people and leaving dozens wounded, hospital and rescue workers said.

McDonald in Beijing and AP Writer Danica Kirka in London contributed to this report

A TRISHAW driver wades through a crowded street at the frozen Houhai Lake in Beijing on Monday, January 30, 2023. The outlook for the global economy is growing slightly brighter as China eases its zero-Covid policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine. AP/ANDY WONG

IN this handout photo released by Pakistan’s Police Department, security officials gather for funeral prayers of police officer, who were killed in the suicide bombing inside a mosque, in Peshawar, Pakistan, on Monday, January 30, 2023. A suicide bomber struck Monday inside a mosque in the northwestern Pakistani city of Peshawar, killing 80 people and wounding scores of worshippers, officials said. PAKISTAN’S POLICE DEPARTMENT VIA AP

The World

Pope’s

By Nicole Winfield, Jean-Yves Kamake & Nqobile Ntshangase The Associated Press

VATICAN CITY—Pope Francis is opening a six-day visit to Congo and South Sudan on Tuesday, aiming to bring a message of peace to two countries riven by poverty, conflict and what Francis has called a lingering “colonialist mentality” that still considers Africa ripe for exploitation.

Aid groups are hoping Francis’ trip will shine a spotlight on two of the world’s forgotten conflicts and rekindle international attention on some of Africa’s worst humanitarian crises, amid donor fatigue and new aid priorities in Ukraine.

But Francis’ trip will also bring him face-to-face with the future of the Catholic Church: Africa is one of the only places in the world where the Catholic flock is growing, in terms of practicing faithful as well as fresh vocations to the priesthood and religious life.

That makes his trip, his fifth to the African continent in his 10year pontificate, all the more important as Francis seeks to make his mark on reshaping the church as a “field hospital for wounded souls” where all are welcome and poor people have a special pride of place.

“Yes, Africa is in turmoil and is also suffering from the invasion of exploiters,” Francis told The Associated Press in an interview last week. But he said the church can also learn from the continent and its people.

“We need to listen to their culture: dialogue, learn, talk, promote,” Francis said, suggesting that his message would differ from the scolding tone St. John Paul II used in 1980 and 1985 when he reminded Congolese priests and bishops of the need to stick to their celibacy vows. Congo, Francis’ first stop, stands out as the African country with most Catholics hands down: Half of its 105 million people are Catholic, the country counts more than 6,000 priests, 10,000 nuns and more than 4,000 seminarians—3.6% of the global total of young men studying for the priesthood.

Congolese faithful were flocking to Kinshasa for Francis’ main event, a Mass on Wednesday at Ndolo airport that is expected to draw as many as 2 million people in one of the biggest gatherings of its kind in Congo and one of Francis’ biggest Masses ever.

“There are people who chartered planes to come here because there were so many of them!” marveled Inniance Mukania, who travelled to Kinshasa from the Kolwezi diocese in southern Congo.

On the eve of the pope’s visit, President Felix Tshisekedi met with foreign diplomats in Kinshasa and told them the visit was a sign of solidarity “particularly with the battered populations of the eastern part of the country, prey to acts of violence and intolerance that you are witnessing.”

Jesus-Noel Sheke, technical coordinator of the organizing committee for the papal visit, said nearly everything was ready at Ndolo, where organizers have arranged for 22 giant screens to carry the service live.

“There are only a few decorations left,” he told journalists of the preparations over the weekend. “They will be done the day before.”

The trip was originally scheduled for July, but was postponed because of Francis’ knee problems. It was also supposed to have included a stop in Goma, in eastern Congo, but the surrounding North Kivu region has been plagued by intense fighting between government troops and the M23 rebel group, as well as attacks by militants linked to the Islamic State group.

The fighting has displaced some 5.7 million people, a fifth of them last year alone, according to the World Food Program.

Instead, Francis will meet with a delegation of people from the east who will travel to Kinshasa for a private encounter at the Vatican embassy. The plan calls for them to participate in a ceremony jointly committing to forgive their assailants.

While the people of Goma were saddened that Francis won’t be visiting the east, “we hope with the visit that the pope can bring a message of peace to the people of Congo who need it,” said Providence Bireke, a Goma-based manager with AVSI, an Italian aid group active in the area.

The second leg of Francis’ trip will bring him to South Sudan, the world’s youngest country where continued fighting has hampered implementation of a 2018 peace deal to end a civil war. Francis first voiced his hope of visiting the majority Christian country in 2017, but security concerns prevented a visit and only contributed to worsening a humanitarian crisis that has displaced more than 2 million people.

The South Sudan stop also marks a novelty in the history of papal travel, in that Francis will be joined on the ground by the Archbishop of Canterbury, Justin Welby, and the moderator of the Church of Scotland, the Rt. Rev. Iain Greenshields.

The aim of the three-way visit is to show a united Christian commitment to helping South Sudan make progress on the implementation of the 2018 accord. Francis presided over a similar joint initiative in 2019 in the Vatican when he famously got down on hands and knees and kissed the feet of South Sudan’s rival leaders, begging them to make peace.

Since then, progress on implementing the accord—in particular creating a unified army comprised of government forces and opposition fighters—has been “painfully slow,” said Paolo Impagliazzo of the Sant’Egidio Community, which has spearheaded an initiative to bring the groups that didn’t sign onto the 2018 accord into the process.

“The visit will bring hope to the people,” Impagliazzo said in an interview in Rome. “And I believe the visit will strengthen the churches—the Anglican Church, the Catholic Church, the local church— that are playing a critical role in bringing about peace and dialogue in South Sudan.”

One area of particular concern remains the widespread availability of firearms among the civilian population, which has led to continued fighting in areas as cattle herders seek more land or faction leaders seek to gain more territory, he said.

The Small Arms Survey estimated in 2017 that there were some 1.2 million firearms in the possession of South Sudanese civilians, or 1 for every 10 people. The estimate was believed low and pales in comparison to the number of per capita firearms in Europe or the US, but remains an outstanding issue that “will not go ahead until we have the possibility to have a unified army,” Impagliazzo said.

Francis has long denounced the weapons industry, calling traffickers “merchants of death.” In the AP interview, he repeated his condemnation.

“The world is obsessed with having weapons,” Francis said. “Instead of making the effort to help us live, we make the effort to help us kill.”

Kamake and Ntshangase reported from Kinshasa, Congo. Sam Mednick contributed from Dakar, Senegal

Africa trip spotlights conflict, and church’s future

Malaysia’s PM tells Goldman to pay up on 1MDB settlement

By Anisah Shukry & Michelle Jamrisko

Rights groups say Myanmar military increasing air attacks

By Grant Peck The Associated Press

BANGKOK—Myanmar’s mil -

itary is increasingly turning to airstrikes with deadly results to try to crush stiff armed resistance, two years after it seized power and plunged the country into a prolonged civil war, said a report Tuesday by a human rights monitoring group.

The military is heavily reliant on fighter jets and helicopter gunships supplied by its allies Russia and China, according to the non-governmental organization Myanmar Witness and other experts. The group’s compilation of 135 “airwar incidents” from July to mid-December says the number of airstrikes has been on an upward trend since September.

the resistance, Christina Fink, a professor of international affairs at George Washington University, said at a January 19 online seminar organized by the Stimson Center think tank in Washington, D.C.

The military has an air force capability they didn’t have 20 years ago, she said.

“They have been able to purchase planes from both Russia and China. They’ve been able to get the training in Russia, for instance, and are now using those to great effect,” said Fink.

The abuse of the sovereign state fund was made possible because of “complicity” from institutions such as Goldman Sachs, Anwar told Bloomberg Television’s Haslinda Amin in his first interview with international media since becoming prime minister.

“My only appeal is for them to settle this deal with Malaysia because 1MDB is known throughout the world,” Anwar said Monday in Singapore. “It is there in the books and I think that Goldman Sachs should come out clean and deal with Malaysia.”

State development fund 1MDB became the center of a multi-billion dollar scandal that spawned probes in Asia, the US and Europe. Goldman Sachs in 2020 admitted its role in the biggest foreign bribery case in US enforcement history, reaching multiple international settlements in the billions of dollars to end probes into its fundraising for 1MDB.

The Malaysian government in 2018 turned its attention to Goldman Sachs for its work raising $6.5 billion in 2012 and 2013 for 1MDB, formally known as 1Malaysia Development Bhd. The bonds were earmarked for redevelopment but all but $2 billion of the money was diverted to pay bribes to government officials, US federal prosecutors said.

Authorities spent years tracking funds that allegedly flowed from 1MDB into highend art and real estate, a super

yacht and, ironically, the hit Hollywood movie “The Wolf of Wall Street,” chronicling an earlier era of financial crimes.

The settlement announced in July 2020 called for Goldman Sachs to pay $2.5 billion while guaranteeing the return of $1.4 billion of 1MDB assets seized by authorities around the world, in exchange for Malaysia dropping charges against the bank.

Goldman must also make a onetime interim payment of $250 million if Malaysia has not received at least $500 million in assets and proceeds by August 2022, according to the bank. However, the two disagree over whether the government had received the $500 million in proceeds by the August deadline, Goldman Sachs said in a filing last year.

The bank in the filing had also accused Malaysia of having “unilaterally reduced” the value of one asset by $80 million, while declining to include substantial additional assets in accounting of assets and proceeds recovered.

“Given a fair deal, we are supposed to be paid much more than that, which I intend to deal with them if these things are not settled amicably,” said Anwar in response to Goldman’s claims.

“It’s not my intention—I’m just new in the game. I just want to settle old scores, in the sense of old commitments that we have made. We have to move on.”

A Goldman Sachs spokesman referred Bloomberg News to the

firm’s 10Q filing when reached for comment.

At the time of its filing, Goldman Sachs had said the parties had a three-month window to try and resolve the dispute. The matter would be settled by arbitration should no resolution be reached.

“But if they come and pressure us with this, I will have no choice because I have a mandate from my people, and people are struggling to live and you with your hundreds of billions of profit and squandering, you can’t just get away by ignoring your moral responsibility and financial responsibility,” Anwar said.

Anti-corruption

IN the wide-ranging interview, the Malaysian prime minister said he was working on cleaning Malaysia’s image after having inherited a country tainted by scandal and graft.

“It’s not just 1MDB, but the corruption is systemic, as I’ve said, which means it cuts across a whole spectrum, particularly of the political elite, and therefore you have to set a good example,” Anwar said.

This meant being consistent on opposing graft and abuse, and ending the practice of awarding projects through direct negotiations, he said. “What we need to do is regain that trust and be seen and honestly attempt to do the

right thing,” Anwar said.

Since taking office, Anwar announced a review of billions of ringgit worth of government projects that past administrations had approved, including flood mitigation plans and pandemic assistance packages. The government could save about 10 billion ringgit in the procurement system, he had said on January 17.

Still, Anwar had to contend with public backlash this week for appointing his daughter, Nurul Izzah Anwar, as a senior advisor on economy and finance. The 42-year-old lost her seat in the Nov. 19 general election after serving as a lawmaker for two terms.

Former prime minister Muhyiddin Yassin said the appointment was unprecedented of a premier, and urged Anwar to advise Nurul to step down.

Anwar has consistently defended his decision, saying his daughter was working with “many other colleagues” to dismantle corruption. There was no question of her accepting government contracts, projects, or even an allowance, he said.

“I do accept some criticisms, including from my friends who are a bit concerned,” Anwar said. “But I have to tell them look, she’s not being paid and she can deliver. It’s not an abuse of position.” With assistance from Kok Leong Chan and Chanyaporn Chanjaroen/Bloomberg

RECENT EXTREMIST ATTACKS KILL 32 IN BURKINA FASO

By Arsene Kabore & Sam Mednick The Associated Press

OUAGADOUGOU, Burkina Faso—

Multiple jihadi attacks across Burkina Faso over several days have resulted in the death of at least 32 people,

including soldiers and civilians, government authorities said Tuesday.

Burkina Faso’s State Information Agency posted on its Facebook page that a dozen soldiers and a civilian were killed Monday in Falagountou in Burkina Faso’s Sahel region during clashes between the military and

jihadis. Another 20 people were killed in two attacks over the weekend in the country’s east-central and western regions.

Four people were executed Saturday afternoon when gunmen intercepted their van between Tenkodogo and Ouargaye villages. On Sunday, a passenger mini-bus coming from the western city of Banfora was intercepted by armed men, said Col. Jean Charles dit Yenapono Some, governor of the Cascades region in a statement. Eight women and one man were freed, the rest of the people were abducted and their lifeless bodies were found with bullet holes the following day, he said.

Jihadi violence linked to al-Qaida and the Islamic State Group has ravaged the West African country for years killing thousands and displacing nearly 2 million people. Nearly 5,000 civilians have been killed since 2015, according to the Armed Conflict Location & Event Data Project (ACLED).

The violence has sowed frustration and distrust among the population and led to two coups last year. The new junta leader, Ibrahim Traore, seized power in September promising to stem the violence but attacks are increasing.

Mednick reported from Dakar, Senegal

“As the Myanmar military struggles to exert control over areas of resistance, airstrikes have become a key part of their offensive,” the report says. The military “is putting the population of Myanmar in a precarious position, destroying homes, schools and places of worship—sites which should be safe for civilians.”

According to a January statement by the National Unity Government, an underground group that calls itself the country’s legitimate government and serves as an umbrella organization for opponents of military rule, 460 civilians, mostly children, have lost their lives in airstrikes.

Myanmar’s army has defended its actions as meant to fight what it calls terrorist activities and legitimate military targets.

The army ousted the elected government of Aung San Suu Kyi on February 1, 2021, and immediately was met with widespread public protests that security forces suppressed with lethal force. The futility of nonviolent protest drove opponents to armed resistance, which UN experts and others have characterized as civil war.

According to the independent Assistance Association for Political Prisoners, a watchdog group that tracks killings and arrests, 2,901 civilians have been killed by the authorities since the army takeover. The actual death toll is likely to be much higher since the group cannot easily verify casualties in remote areas and combat zones.

The army has long contended with ethnic minority rebel groups in frontier areas fighting for greater autonomy but now finds its forces stretched thin as it also battles pre-democracy guerrillas in Myanmar’s heartland.

In many cases, ethnic rebels have teamed up with pro-democracy guerrillas in the loosely organized armed wing of the National Unity Government. They have effectively denied the military government control of large swaths of the country, undermining its claims to legitimacy. But they lack the resources to deliver a knockout punch on the battlefield.

Although the military is demoralized and has been losing control over many parts of the country, its increasing use of air power is a major challenge for

Members of the Free Burma Rangers, a humanitarian relief organization that offers handson medical assistance to ethnic minority villagers in Myanmar’s border regions, were among the rare outside witnesses who were able to see the effects of an airstrike when a Myanmar jet fighter dropped two bombs on the village of Lay Wah in northern Karen state on January 12. They observed its bombing run from a distance and rushed to the village to offer assistance.

“The bombs destroyed two churches and the school as well as other structures,” the Rangers said in an account circulated to their supporters.

The victims included a 3-yearold and her mother, a Catholic deacon, another pastor, and a villager who was helping at the church “and was disintegrated by the blast and only the stumps of his legs could be found.”

David Eubank, a former member of US Army Special Forces and founder of the Free Burma Rangers, told The Associated Press in a text message last week that since the 2021 takeover, Myanmar’s military “has come with a speed and a force we have never seen in our 30 years of humanitarian relief work here.”

“We witnessed the first airstrikes right after the coup d’état in Karen state in villages around us, killing and maiming civilians, many of the women and children we treated in our clinic,” said Eubank. Then last year, he saw almost daily airstrikes by Yak-130 and MiG-29 as well as K-8 jet fighters that bombed, strafed and rocketed villages and clinics.

“I saw firsthand 10 people who were killed in different bombing events and came up on other areas where many more were killed before we arrived. We also saw Hind attack helicopters in February. Almost every day shooting rockets, and machine gun into villages,” he said.

The opponents of military rule have virtually no access to sophisticated weapons to combat air attacks. Their supporters are urging an embargo on the sale of aviation fuel to Myanmar to stop the air attacks.

The European Union has imposed an arms embargo on Myanmar as well as a ban on equipment that can be used for internal repression or for monitoring communications. The United States bars any commercial transactions with Myanmar’s military and its major cronies and agents.

MALAYSIAN Prime Minister

Anwar Ibrahim demanded that Goldman Sachs Group Inc. honor its settlement with the government for its role in the 1MDB scandal, saying the Wall Street firm shouldn’t use its financial strength to dictate terms.

PRIME Minister Anwar Ibrahim demanded that Goldman Sachs Group Inc. honor its settlement with the government for its role in the 1MDB scandal. BLOOMBERG

The World

Strikes, protests hit France in round 2 of pension battle

PARIS—French labor leaders hope to bring more than one million demonstrators again into the streets Tuesday in the latest clash of wills with the government over its plans to push back France’s retirement age.

For both sides, the nationwide strikes and protests are an important test. French President Emmanuel Macron’s government says it is determined to push through his election pledge to reform France’s pension system. Labor unions and left-wing legislators fighting in parliament against Macron’s plans are counting on protesters to turn out massively to strengthen their efforts to kill the bill.

A first round of strikes and protests brought out between 1 million and 2 million demonstrators earlier this month, including many tens of thousands in Paris. Labor leaders are aiming to at least match or even better those numbers on Tuesday, with another big demonstration planned Tuesday afternoon in Paris and close to 250 others expected elsewhere.

Positions are hardening on both sides as lawmakers begin

A LONE traveler walks in the Montparnasse train station Tuesday, January 31, 2023, in Paris. France’s national rail operator is recommending that passengers stay home Tuesday to avoid strikes over pension reforms that are expected to cause major transport

locking horns in parliament over the government’s bill that would raise the retirement age from 62 to 64.

On Monday, Macron described the reform as “essential.” His prime minister, Elisabeth Borne, insisted this past weekend that raising the retirement age to 64 is “no longer negotiable.”

Strikes and protesters intend to prove otherwise.

US to increase advanced weapons deployment to counter North Korea

By Kim Tong-Hyung

The Associated Press

SEOUL, South Korea—US Defense

Secretary Lloyd Austin on Tuesday said the United States will increase its deployment of advanced weapons such as fighter jets and bombers to the Korean Peninsula as it strengthens joint training and operational planning with South Korea in response to a growing North Korean nuclear threat.

Austin made the comments in Seoul after he and South Korean Defense Minister Lee Jong-Sup agreed to further expand their combined military exercises, including a resumption of live-fire demonstrations, and continue a “timely and coordinated” deployment of US strategic assets to the region, according to their offices.

Austin and Lee also discussed preparations for a simulated exercise between the allies in February aimed at sharpening their response if North Korea uses nuclear weapons.

Austin’s trip comes as South Korea seeks stronger assurances that the United States will swiftly and decisively use its nuclear capabilities to protect its ally in face of a North Korean nuclear attack.

South Korea’s security jitters have risen since North Korea test-fired dozens of missiles in 2022, including potentially nuclear-capable ones designed to strike targets in South Korea and the US mainland.

South Korea and the United States have also been strengthening their security cooperation with Japan, which has included trilateral missile defense and anti-submarine warfare exercises in past months amid the provocative run in North Korean weapons tests.

In a joint news conference following their meeting, Austin and Lee said they agreed that their countries’ resumption of large-scale military drills last year, including an aerial exercise involving US strategic bombers in November, effectively demonstrated their combined capabilities to deter North Korean aggression.

The allies had downsized their training in recent years to create room for diplomacy with North Korea during the Trump administration and because of the Covid-19 pandemic.

“We deployed fifth-generation aircraft, F-22s and F-35s, we deployed a carrier strike group to visit the

peninsula, you can look for more of that kind of activity going forward,” Austin said.

He said the US commitment to protecting its allies with its full range of military capabilities, including nuclear ones, remains “ironclad.”

North Korea’s ramped-up missile tests have been punctuated by threats to preemptively use its nuclear weapons in a broad range of scenarios in which it perceives its leadership to be under threat, including conventional clashes or non-war situations.

Tensions could further rise in coming months with North Korean leader Kim Jong Un doubling down on his nuclear ambitions.

During a political conference in December, Kim called for an “exponential increase” in nuclear warheads, mass production of battlefield tactical nuclear weapons targeting South Korea, and development of more powerful long-range missiles designed to reach the US mainland.

Experts say Kim’s nuclear push is aimed at forcing the United States to accept the idea of North Korea as a nuclear power and negotiating badly needed economic concessions from a position of strength.

Nuclear negotiations between the US and North Korea have been derailed since 2019 because of disagreements over a relaxation of US-led economic sanctions against the North in exchange for steps by North Korea to wind down its nuclear weapons and missiles programs. North Korea’s growing nuclear arsenal and provocations have raised the urgency for South Korea and Japan to strengthen their defense postures in line with their alliances with the United States.

In an interview with The Associated Press this month, South Korean President Yoon Suk Yeol said his government was discussing with the Biden administration joint military planning potentially involving US nuclear assets.

In December, Japan made a major break from its strictly self-defense-only post-World War II principle, adopting a new national security strategy that includes the goals of acquiring preemptive strike capabilities and cruise missiles to counter growing threats from North Korea, China and Russia.

Rail operator SNCF warned of major network disruptions Tuesday because of strikes. It recommended that passengers cancel or postpone trips and work remotely if possible. Strikes also hit some schools and other sectors. Radio station France Inter played music instead of its usual morning talk shows and apologized to its listeners because employees are striking.

Cyprus picks new president amid economic doubt and ethnic split

By Menelaos Hadjicostis

The Associated Press

NICOSIA, Cyprus—Cypriots are voting Sunday for a new president who they’ll expect to decisively steer the small island nation through shifting geopolitical sands and uncertain economic times that have become people’s overriding concern, eclipsing stalemated efforts to remedy the country’s ethnic division.

The monthslong campaign has been a lackluster affair, primarily because the three leading candidates are all close associates of outgoing President Nicos Anastasiades and so their battles have centered on trying to persuade voters that they’re not all cut from the same cloth.

At the same time, they’ve been angling for votes from across ideological lines by trying to evade the long shadow cast by the right-wing Anastasiades, whose detractors have accused him of enabling corruption to fester through his two-term, 10-year tenure. Anastasiades has vehemently denied the allegations.

From a record field of 14 candidates, the frontrunners include Averof Neophytou, the leader the center-right, pro-business Democratic Rally (DISY) Party, which Anastasiades previously led; and Nikos Christodoulides, a former foreign minister and government spokesman in Anastasiades’ administration. The third main candidate is Andreas Mavroyiannis, a former diplomat and Anastasiades’ lead negotiator with breakaway Turkish Cypriots in peace negotiations. Opinion polls indicate that none of the three will muster more than half of the votes—the bar for an outright win in the first round. Instead, the top two will likely move forward to a runoff a week later. Some 561,000 citizens are eligible to vote.

Opinion polls have consistently given Christodoulides a lead of as much as 10 points over Neophytou and Mavroyiannis, meaning he likely take one spot in the runoff, while the others are battling neckand-neck for the other one.

The ‘Anastasiades connection’ has been a central theme for voters, but also for the president himself, who boasted in a recent interview with leading daily Phileleftheros that he feels “to a measure vindicated” in his leadership by the fact that three of his associates are vying to succeed him.

woes but largely spare high-speed links to Britain, Belgium and the Netherlands. Labor unions are hoping to maintain pressure on government plans to raise France’s retirement age. AP/MICHEL EULER

Can we stop worrying about power outages?

The energy crisis that struck South Africa, which is threatening food and water supplies, has already adversely affected their agriculture sector.

Bloomberg reported that blackouts have created problems at every step of the agricultural production (See, “An energy crisis is seeping into South Africa’s food supply,” in the BusinessMirror, January 18, 2023). Power outages forced poultry factories to pause round-the-clock operations for as long as half a day, delaying the slaughter of birds and increasing the production cost of companies as the chickens continue to consume feed.

South African farmers cannot irrigate their crops, and stores and food retailers shelled out more money to keep their produce from spoiling. Those who have the means have purchased generators and spent for diesel to keep electricity running for hours. The energy crisis also affected other sectors, including tourism.

South Africa’s experience should serve as a warning to the Philippines, where the power supply situation is causing anxiety among policymakers and industry stakeholders. For one, Energy Secretary Raphael Lotilla said the country needs additional power supply and reserves during the hot dry season when demand will be at its peak. Lotilla also warned lawmakers about the possibility of several yellow alerts and possible red alerts that await the Luzon grid this year (See, “Bleak, challenging energy sector outlook seen in ’23,” in the BusinessMirror, January 9, 2023).

The grid operator issues a red alert status when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement, while a “yellow alert” means insufficient operating power reserve. Based on an initial assessment of the country’s power supply and demand for this year, the National Grid Corporation of the Philippines is seen issuing 17 yellow alerts and three red alerts in 2023. The Institute for Climate and Sustainable Cities said it does not foresee much improvement in the supply from both coal and fossil gas power plants this year.

While areas connected to the main grid are not yet experiencing power outages, off-grid areas have already been hit by brownouts as the National Power Corp. struggles to meet its financial obligations amid the spike in fuel prices. These off-grid areas have farmlands that require irrigation and have small businesses that cater to tourists. Skyrocketing fuel prices have prompted the NPC to seek a higher budget for this year so it could continue delivering electricity to these areas. Blackouts would affect not only households, but also factories and farms that rely on electricity to power machines, mills and irrigation systems. The country’s economic recovery is a welcome development, as this would mean more jobs and higher incomes. However, the economic gains could be dented by higher food prices caused by disruptions, such as power outages and more expensive electricity.

Concerned government agencies as well as the private sector are now looking at measures to prevent power outages. The hot dry season— when rice, onions and mangoes are harvested and people usually visit beaches and other local tourist spots—is just around the corner. It would do well for concerned state agencies to inform the people what measures are being done to minimize if not totally avoid power outages. The people need government reassurance so that they can stop worrying about brownouts during the hot summer months.

Since 2005

No to RCEP! Don’t make PHL an ‘ukay-ukay’ republic!

have seen big supply gaps and price spikes in sugar, onions, rice and eggs. Things could worsen, unless we act resolutely and fix the ills plaguing agriculture. More so, if our competitors in the region—in contrast to our complacency—continue to innovate and displace us in markets here and abroad.

FArMerS, non-government organizations, and some members of the private sector said they oppose the ratification of the regional Comprehensive economic Partnership free trade agreement. here’s the joint statement of 125 organizations and 25 personalities expressing their opposition to rCeP:

In November 2021, during the 18th Congress, various farmers, fishers, workers, civil society and private sector organizations expressed their opposition to the RCEP free trade agreement. At that time, we urged the Senate to withhold its concurrence with the treaty until the necessary policies, strategies and programs are emplaced so that the RCEP will benefit, and does not harm, the agricultural sector and the economy as a whole.

We pointed out that agriculture provides 25 percent of all jobs. Together with agribusiness, it accounts for 35 percent of our gross domestic product. At least 50 percent of Filipinos depend directly or indirectly on the sector. Also, most poor Filipinos are in rural areas.

Clearly, the promised gains from trade liberalization—following our membership in the World Trade Organization (WTO) in 1995 and subsequent regional and bilateral free trade agreements (FTAs)— have not materialized. Our trade performance has actually dete-

riorated. Our agricultural trade deficit has ballooned to nearly $9 billion annually. Exports have not significantly expanded beyond traditional items like banana, pineapple and coconut-based products. Meanwhile, our capacity to supply foreign markets with competitive products has paled in comparison to our neighbors. In turn, we have become a dumping ground for imports of practically all agricultural commodities—rice, corn, pork, chicken, fish, salt, onions, garlic, mung bean, peanuts, etc.

RCEP proponents claim that we have not made any major commitments in agriculture beyond those already found in existing FTAs. They add that sensitive products like rice, meat, vegetables and corn are exempted from tariff reduction. Hence, they conclude, there is nothing in RCEP to worry about.

In fact, what they mean is that things will probably not get any worse.

That is of little consolation to the agricultural sector. Recently, we

Dire warnings about the cost of not joining RCEP are exaggerated, if not imagined. Almost all the trade concessions offered by our trading partners under RCEP will remain available to us through our existing FTAs with them, either directly or through Asean. Foreign investors who locate their businesses in the country will continue enjoying these preferential arrangements, even if we are outside RCEP.

New trade or market access opportunities—if any—under RCEP cover a tiny percentage of our agricultural tariff lines and trade value. They also offer minimal tariff cuts, most of which will be phased over as long as 20 years. Moreover, there is no guarantee of their benefit to us, because other RCEP member-countries will enjoy the same privileges. They will be the gainers, and we will be the losers, if they are more competitive than us.

For industry, as with agriculture, there is a real danger of imports displacing our local output—since RCEP will eliminate tariffs on 93 percent of our industrial tariff lines. This could result in massive job losses and bankruptcies of small and medium scale enterprises.

RCEP advocates insist that the trade treaty by itself is good, and that concerns about our readiness

to compete should be addressed separately. For us in the agricultural sector who have experienced many broken promises of support, this proposition is unacceptable.

The proponents of RCEP had one year to engage the agri-fisheries sector to attain a mutual understanding on why our commitments under WTO and past FTAs have not worked for us. Yet, they made no serious effort to dialogue meaningfully to avoid past mistakes and to achieve real progress. This shows that the executive is taking our concerns lightly. Nor does it have a credible plan on mitigating threats and maximizing opportunities in RCEP. What has been submitted to the Senate is a wish-list of programs that have been on file for many years now, and which—given our worsening trade performance—have clearly failed to address the weaknesses of the agricultural sector and improve its competitiveness.

In May 2022, President-elect

Bongbong Marcos declared his intention to ensure the sector’s preparedness before pushing for Philippine membership in RCEP.

Under these circumstances, it will be foolhardy to dive into the RCEP bandwagon. Let us not put the cart before the horse. The lives and welfare of millions of farmers, fishers, workers and other stakeholders are at stake!

We therefore urge our esteemed senators to vote NO to RCEP! Dr. Rene E. Ofreneo is a Professor Emeritus of the University of the Philippines. For comments, please write to reneofreneo@ gmail.com.

Antonio L. Cabangon Chua Founder

By Zeke Miller & Amanda Seitz | The Associated Press

WAShINGTON—President Joe Biden informed Congress on Monday that he will end the twin national emergencies for addressing Covid-19 on May 11, as most of the world has returned closer to normalcy nearly three years after they were first declared.

The move to end the national emergency and public health emergency declarations would formally restructure the federal coronavirus response to treat the virus as an endemic threat to public health that can be managed through agencies’ normal authorities.

being brought to the floor this week by House Republicans to bring the emergency to an immediate end. House Republicans are also gearing up to launch investigations on the federal government’s response to Covid-19.

814-0134 to 36. E-mail: news.businessmirror@gmail.com

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MEMBER OF

It comes as lawmakers have already ended elements of the emergencies that kept millions of Americans insured during the pandemic. Combined with the drawdown of most federal Covid-19 relief money, it would also shift the development of vaccines and treatments away from the direct management of the federal government. Biden’s announcement comes in a statement opposing resolutions

Then-President Donald Trump’s Health and Human Services Secretary Alex Azar first declared a public health emergency on January 31, 2020, and Trump later declared the Covid-19 pandemic a national emergency that March. The emergencies have been repeatedly extended by Biden since he took office in January 2021, and are set to expire in the coming months. The White House said Biden plans to extend them both briefly to end on May 11.

“An abrupt end to the emergency declarations would create wide-ranging chaos and uncertainty throughout the health care system—for states, for hospitals and doctors’ offices, and, most importantly, for tens of millions of Americans,” the Office of Management and Budget wrote in a Statement of Administration Policy.

More than 1.1 million people in the US have died from Covid-19 since 2020, according to the Centers for Disease Control and Prevention, including about 3,700 last week.

Congress has already blunted the reach of the public health emergency that had the most direct impact on Americans, as political calls to end the declaration intensified. Lawmakers have refused for months to fulfill the Biden administration’s request for billions more dollars to extend free Covid vaccines and testing. And the $1.7 trillion spending package passed last year and signed into law by Biden put an end to a rule that barred states from kicking people off Medicaid, a move that is expected to see millions of people lose their cov-

erage after April 1.

“In some respects, the Biden administration is catching up to what a lot of people in the country have been experiencing,” said Larry Levitt, the executive vice president for health policy at Kaiser Family Foundation.

“That said, hundreds of people a day are still dying from Covid.”

Still, some things will change for Americans once the emergency expires, Levitt pointed out.

The costs of Covid-19 vaccines are also expected to skyrocket once the government stops buying them, with Pfizer saying it will charge as much as $130 per dose. Only 15 percent of Americans have received the recommended, updated booster that has been offered since last fall.

People with private insurance could have some out-of-pocket costs for vaccines, especially if they go to an out-of-network provider, Levitt said. Free at-home Covid tests will also come to an end. And hospitals will not get extra payments for treating Covid patients. See “President,” A19

Ambassador

Blinken calls for Israel-Palestinian calm as violence rises

By Matthew Lee | AP Diplomatic Writer

JeRUSaLeM — US Secretary of State antony Blinken urged Israel and the Palestinians on Monday to ease tensions following a spike in violence that has put the region on edge. The bloodshed has alarmed the Biden administration as it attempts to find common ground with Israeli Prime Minister Benjamin Netanyahu’s new right-wing government.

Yet aside from appeals for deescalation and restraint, Blinken did not publicly offer any particular ideas for calming the situation and it was not immediately clear from his meeting with Netanyahu that the administration would be proposing any. Blinken will meet Tuesday with Palestinian leader Mahmoud Abbas.

“We’re urging all sides now to take urgent steps to restore calm, to de-escalate,” Blinken said after meeting Netanyahu. “We want to make sure that there’s an environment in which we can, I hope at some point, create conditions where we can start to restore a sense of security for Israelis and Palestinians alike, which of course is sorely lacking.”

Blinken arrived during one of the deadliest periods of fighting in years in the occupied West Bank and east Jerusalem. An Israeli military raid Thursday killed 10 Palestinians in the flashpoint West Bank town of Jenin, while a Palestinian gunman killed seven people outside a synagogue in an east Jerusalem settlement on Friday. The next morning, a 13-year-old Palestinian boy shot and wounded two Israelis elsewhere in east Jerusalem.

Netanyahu made no reference to the recent flare-up in violence in brief comments after the meeting, instead speaking of the dangers to Israel posed by Iran and his hope for expanding the so-called “Abraham Accords” — normalization agreements with several Arab countries.

“Expanding the circle of peace; working to close, finally, the file of the Arab-Israeli conflict, I think would also help us achieve a workable solution with our Palestinian neighbors,” Netanyahu said in his only mention of the Palestinians.

Blinken was more forthright, saying the US supports the expansion of the Abraham Accords but that they cannot be a substitute for a two-state solution that resolves the long-running Israeli-Palestinian conflict.

“These efforts are not a substitute for progress between Israelis and Palestinians, but as we advance Israel’s integration we can do so in ways that improves the daily lives of Palestinians in the West Bank and Gaza,” he said, adding that the best way to do that would be through a two-state resolution creating an independent Palestinian state alongside Israel.

Netanyahu’s government is dominated by far-right politicians who oppose Palestinian independence. Following the weekend shootings, his government approved a series of punitive moves against the Palestinians, including plans to “strengthen” West Bank settlements. The US, like most of the international community, considers Israeli settlements on lands claimed by the Palestinians for their state as obstacles to peace.

“Anything that moves us away from that vision is, in our judgment, detrimental to Israel’s long-term security and its long-term identity as a Jewish and democratic state,” Blinken said.

Israel’s options may be limited. Both shooters are believed to have acted individually and were not part of organized militant groups, and punitive steps against the broader population could risk triggering even more violence.

Just before meeting Netanyahu, Blinken said he arrived in Israel from Egypt at “a pivotal moment” and condemned Palestinian attacks that have targeted Israeli citizens. But he also called for restraint in

response, saying that all civilian casualties are deplorable.

“To take an innocent life in an act of terrorism is always a heinous crime but to target people outside their place of worship is especially shocking,” he said, referring to the Friday night shooting, which occurred on the Jewish sabbath.

“We condemn all those who celebrate these and any other acts of terrorism that take civilian lives no matter who the victim is or what they believe,” he said. “Calls for vengeance against more innocent victims are not the answer. And acts of retaliatory violence against civilians are never justified.”

On Monday, shortly before Blinken’s arrival in Israel, the Palestinian Health Ministry said Israeli forces killed a Palestinian man in the flashpoint city of Hebron, bringing the toll of Palestinians killed in January to 35.

The violence comes after months of Israeli arrest raids in the West Bank, which were launched after a wave of Palestinian attacks against Israelis in the spring of 2022 that killed 19 people.

But it has spiked this month during the first weeks of Netanyahu’s new far-right government, which has promised to take a tough stance against the Palestinians and ramp up settlement construction.

Blinken’s trip follows visits to Israel by President Joe Biden’s national security adviser Jake Sullivan and CIA Director Willian Burns. Blinken’s meeting was the highest-level US engagement with Netanyahu since he retook power last month.

The visit, which was planned before the flare-up, was already expected to be fraught with tension over differences between the Biden administration and Netanyahu’s government, which is made up of settlement supporters.

Israeli Army Radio reported late Sunday that the government was also set to approve a rogue outpost deep inside the West Bank, and speed up approval for other such small settlements.

Israel also arrested 42 Palestinians, some relatives of the Jerusalem attacker, in its investigation into the attack. And the firebrand National Security Minister Itamar Ben-Gvir said he has ordered authorities to demolish illegally built Palestinian homes in east Jerusalem in response to the attack.

After the Jenin raid, the Palestinians said they would cancel security coordination with Israel.

The Palestinians believe the Israeli retaliation, including the demolition of homes of attackers’ families, amounts to collective punishment and is illegal under international law.

The turmoil has added yet another item to Blinken’s lengthy diplomatic agenda in Jerusalem that was already set to include Russia’s war on Ukraine, tensions with Iran and crises in Lebanon and Syria; all of which weigh heavily in the USIsrael relationship.

Easing strains on those issues, or at least averting new ones, are central to Blinken’s mission despite Netanyahu’s opposition to two of Biden’s main Mideast priorities: reviving the 2015 Iran nuclear deal and restarting Israeli-Palestinian peace talks.

But, with both of those matters stalled and little hope of any resumption in negotiations, the administration is attempting just to keep the concepts on life support.

A lost opportunity for people to understand the perils of smuggling?

me that the scheduled House Committee on Ways and Means hearing on smuggling was cancelled by Chairman Salceda.

SENSE

Dr. Jesus Lim Arranza MAKE

Ihave spent a significant part of my life fighting against smuggling in the country, which has killed and still killing Philippine industries and depriving the government billions of pesos in uncollected duties and taxes. I was happy to receive the invitation of a lbay second District Representative and house Committee on Ways and Means Chairman Joey Salceda asking me to attend the house hearing about the unabated smuggling in the country. I saw this as a great opportunity for me to express my thoughts, concerns and reservations on the way smuggling, a national scourge that is robbing the government of over P 250 billion in value added taxes alone each year, is being addressed by those concerned.

For giving me such an opportunity, I would like to thank Congressman Salceda, who heeded my suggestion to the Committee to allow me to participate in the hearing, which will give me a chance to share my inputs on smuggling. My staff’s call to the Committee on the matter was favorably considered by Congressman Salceda.

On Sunday, January 29, 2023,

when I checked my e-mails, I saw the Committee’s invitation for me to attend the January 30, 2023 House hearing on smuggling.

Indeed, smuggling has likewise evolved with the times. Unlike the old practice when illegally imported goods were being unloaded at night under the cover of darkness along the nation’s vast coastline, smuggling today is happening right at the door-

steps of the Bureau of Customs. But like diving into a mares nest, fighting smuggling is a most challenging, frustrating, disappointing advocacy. You don’t know who are your allies. In fact, an ally in the anti-smuggling campaign can become your enemy when “befriended” by people with co-optive powers. Customs officials, sad to say, are no exemption. As they say in Filipino, “Sa Customs pag gusto, maraming paraan. Pag ayaw, maraming dahilan” (At Customs, if they want it done, they find ways to allow it. If they don’t like it, they have reasons to deny it). Of course, this does not apply to BOC officials and employees who serve ethically and with integrity. As they say in Spanish, puera de los buenos

Thus, I welcomed the opportunity to share my thoughts about smuggling with the members of the House Ways and Means Committee. The thought alone of being invited to the House Hearing made me feel enthusiastic. An unexpected news, however, doused my excitement in the early morning of January 30, 2023. Waking up very early to pick up at the office the documents I would need for the House hearing, I was already in my car when I got a call at six o’clock in the morning informing

There must have been something really urgent for the Congressman to cancel such an important hearing with too short of notice. Whatever the reason is, I hope it’s more important than the information I intend to reveal, which will hopely enlighten the Committee members on why smuggling continues despite government efforts to stop it.

I hope everything is fine with Congressman Salceda. I am still hoping that I will be given an opportunity to share with the members of the House Committee on Ways and Means my experiences about fighting smuggling, and how we at the Federation of Philippine Industries can help solve the crime of smuggling, which is killing Philippine industries and depriving the government billions of pesos in uncollected revenues.

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard government revenues and shield legitimate industries from the ill effects of smuggling.

7th Memphis officer disciplined, EMTs fired in Nichols death

By Adrian Sainz | The Associated Press

MEMPHIS, Tenn.—Two

more Memphis police officers have been disciplined and three emergency responders fired in connection with the death of Tyre Nichols, officials said Monday, widening the circle of punishment for the shocking display of police brutality after video showed many more people failed to help him beyond the five officers accused of beating him to death.

Officer Preston Hemphill, who is white, was relieved of duty shortly after Nichols’ Jan. 7 arrest, the police department announced. Later in the day it said another officer had also been relieved, but without naming the person or specifying what role they played in the incident.

That brought the total number of Memphis officers who have been disciplined to seven, including the five Black officers who were fired and charged last week with seconddegree murder and other offenses in Nichols’ beating and Jan. 10 death.

Also Monday, Memphis Fire Department officials announced the dismissal of emergency medical technicians Robert Long and JaMicheal Sandridge and Lt. Michelle Whitaker. The EMTs had previously been suspended.

Fire Chief Gina Sweat said in a statement that the department received a call from police to respond to a report of a person who had been pepper-sprayed. The workers arrived at 8:41 p.m. as Nichols was handcuffed on the ground and slumped against a squad car, the statement said.

Long and Sandridge, based on the nature of the call and information they were told by police, “failed to conduct an adequate patient assessment of Mr. Nichols,” the statement said. Whitaker and the driver remained in the engine.

An ambulance was called, and it

President

continued from A18

Legislators did extend for another two years telehealth flexibilities that were introduced as Covid-19 hit, leading health care systems around the country to regularly deliver care by smartphone or computer.

The Biden administration had previously considered ending the emergency last year, but held off amid concerns about a potential “winter surge” in cases and to provide adequate time for providers, insurers and patients to prepare for its end. Officials said the administration

arrived at 8:55 p.m., the statement said. An emergency unit cared for Nichols and left for a hospital with him at 9:08 p.m.—27 minutes after Long, Sandridge and Whitaker arrived, officials said. An investigation determined that all three violated “multiple” policies and protocols, the statement said, adding that “their actions or inactions on the scene that night do not meet the expectations of the Memphis Fire Department.”

The killing of Nichols, who was Black, has led to days of public discussion of how police forces can treat Black citizens with excessive violence, regardless of the race of both the police officers and those being policed.

On body camera footage from the initial stop, Hemphill is heard saying that he stunned Nichols and declaring, “I hope they stomp his ass.”

Nichols’ death was the latest example in a long string of early police accounts regarding use of force that were later shown to have minimized or ignored violent and sometimes deadly encounters.

Memphis Police Department officers used a stun gun, a baton and their fists as they pummeled Nichols during the nighttime arrest. Video shows Nichols running away from officers toward his house after he was pulled over on suspicion of reckless driving. Nichols, a 29-year-old father, was heard calling for his mother and seen struggling with his injuries as he sat helpless on the pavement, video footage released Friday showed.

The five officers chatted and milled about for several minutes as Nichols remained on the ground, but there were other authorities on the scene. Two Shelby County sheriff’s deputies have been relieved of duty without pay while their conduct is investigated.

In the Nichols case, the police department has been responsible for

would use the next three months to transition the response to conventional methods, warning that an immediate end to the emergency authorities “would sow confusion and chaos into this critical wind-down.”

“To be clear, continuation of these emergency declarations until May 11 does not impose any restriction at all on individual conduct with regard to Covid-19,” the administration said. “They do not impose mask mandates or vaccine mandates. They do not restrict school or business operations.

They do not require the use of any medicines or tests in response to cases of Covid-19.” Case counts have trended down-

internal disciplinary measures, such as firings, while the Shelby County district attorney has handled the criminal charges. Hemphill was the third officer at a traffic stop that preceded the violent arrest but was not at the scene where Nichols was beaten, his lawyer Lee Gerald said. Hemphill turned on his body camera, in line with department policy, he added.

Lawyers for the Nichols family questioned Monday why the department did not disclose Hemphill’s discipline earlier and why he has not been fired or charged.

“We have asked from the beginning that the Memphis Police Department be transparent with the family and the community—this news seems to indicate that they haven’t risen to the occasion,” attorneys Ben Crump and Anthony Romanucci said in a statement. “It certainly begs the question why the white officer involved in this brutal attack was shielded and protected from the public eye, and to date, from sufficient discipline and accountability.”

Memphis police spokeswoman Karen Rudolph said information on disciplinary action taken against Hemphill was not immediately released because Hemphill was not fired. The department generally gives out information about an officer’s punishment only after a department investigation into misconduct ends, Rudolph said.

Memphis Police Director Cerelyn “CJ” Davis told The Associated Press in an interview Friday that a “lack of supervision in this incident was a major problem.”

“When officers are working, you should have at least one supervisor for every group or squad of people,” Davis said. “Not just somebody who’s at the office doing the paperwork, somebody who’s actually embedded in that unit.”

Calls for more officers to be fired or charged have been loud and per-

ward after a slight bump over the winter holidays, and are significantly below levels seen over the last two winters—though the number of tests performed for the virus and reported to public health officials has sharply decreased.

On Monday, the World Health Organization said the coronavirus remains a global health emergency, even as a key advisory panel for the group found the pandemic may be nearing an “inflexion point” where higher levels of immunity can lower virus-related deaths. China, for example, reported an unprecedented surge in December after lifting most of its Covid-19 restrictions.

sistent from the Nichols family, their lawyers and community activists who have peacefully protested in Memphis since the video was released. The video was evocative of the arrest of George Floyd in 2020 and officers’ failure to intervene.

On Saturday, Nichols’ stepfather, Rodney Wells, told The Associated Press that the family was going to “continue to seek justice and get some more officers arrested.”

“Questions were raised before the video was released, I raised those questions,” Wells said. “I just felt there was more than five officers out there. Now, five were charged with murder because they were the main participants, but there were five or six other officers out there that didn’t do anything to render any aid. So they are just as culpable as the officers who threw the blows.”

Memphis City Council member Martavius Jones said Monday that police policies on rendering aid and de-escalation appeared to have been violated. “When everybody saw the video, we see that you have multiple officers just standing around, when Mr. Nichols is in distress, that just paints a totally different picture,” Jones said.

Jones said he believes more officers should be disciplined.

“At this point, what’s going to be helpful for this community is to see how swiftly the police chief deals with those other officers now that everybody has seen the tape and knows that is wasn’t only five officers who were at the scene the entire time,” Jones said.

The five fired officers and Hemphill were part of the so-called Scorpion unit, which targeted violent criminals in high-crime areas. Davis, the police chief, said Saturday that the unit has been disbanded.

Nichols’ funeral service is scheduled for Wednesday at a Memphis church.

Moments before the White House’s announcement, Rep. Tom Cole, R-Okla., accused the president of unnecessarily extending the public health emergency to take action on issues like forgiving some federal student loan debts.

“The country has largely returned to normal,” Cole said Monday, introducing a Republican-backed bill calling for an end to the health emergency. “Everyday Americans have returned to work and to school with no restrictions on their activities. It is time that the government acknowledges this reality: the pandemic is over.” AP Congressional Correspondent Lisa Mascaro contributed.

A20 Wednesday, February 1, 2023

PHL gets $600-M WB loan for financial sector recovery

By Cai U. Ordinario @caiordinario

ience pillar, this DPL series supports reforms aiming to strengthen the legal and institutional framework to improve financial sector oversight and integrity, enhance crisis management and resolution framework in the sector and improve the availability of long-term finance.

institutions like banks will have opportunities to use other financial services, such as credit and insurance, to start and expand businesses, invest in education or health of their children, manage risks, and weather financial shocks, which can improve the overall quality of their lives.”

ACCORD SEEN TO BOOST MLA-MOSCOW BIZ TIE

T he loan, intended to finance the Second Financial Sector Reform Development Policy Financing program, is the latest loan approved for the Philippines this year. In all, the country received $1.6 billion worth of loans from the World Bank and the Asian Development Bank (ADB) this year.

T he World Bank loan provides continuing support to three policy reform areas—strengthening financial sector stability, integrity, and resilience; expanding financial inclusion for individuals and firms, especially micro, small, and medium enterprises (MSMEs); and catalyzing climate and disaster risk finance to help protect Filipino families from the impacts of climate change and natural disasters.

“ Policy actions that strengthen the stability of the financial sector—

including banks and insurance companies—will help Filipino families, businesses, and investors withstand financial shocks and enhance their resilience by ensuring that problems in these financial institutions are detected at an early stage without severe disruptions to the economy,” said Ndiamé Diop, World Bank Country Director for Brunei, Malaysia, Philippines and Thailand.

T he World Bank’s loan is a development policy loan (DPL) which provides quick-disbursing assistance to countries undertaking reforms. DPLs typically support policy and institutional changes needed to create an environment conducive to equitable growth as defined by countries’ own development priorities.

Under its strengthening financial sector stability, integrity, and resil -

T his DPL also supports the financial sector’s resilience to climate-related shocks by integrating climate and environmental risks in the financial institutions’ risk management frameworks and mobilizing private sector financing for green investments by encouraging banks to incorporate sustainability principles into their investment activities.

Despite continuing progress, only 51 percent of Filipinos aged 15 and above have a transaction account with a financial institution, way below the East Asia and Pacific regional average of 80 percent.

I n the bottom 40 percent of the population, only 34 percent of adults have an account. Supporting reforms for financial inclusion or enhancing Filipinos’ access to financial services is therefore an important part of this financing operation, according to Diop.

Financial inclusion can be a key enabler to speed up poverty reduction and strengthen recovery from the pandemic,” said Diop. “Filipinos who have accounts with financial

E arlier this month, the ADB Board of Directors approved a $500-million policy-based loan to address the impact of the pandemic on jobs and livelihoods and another $500-million policy-based loan to help the government expand economic opportunities in agriculture while ensuring near- to long-term food security for the population.

T he first loan supports Subprogram 2 of the Competitive and Inclusive Agriculture Development Program, which aims to further develop the agriculture sector with trade policy and regulatory framework reforms. It also seeks to enhance public services and finance for the sector, and social protection for rural families affected by the program’s reforms.

T hrough the other loan, ADB is financing the Post-Covid-19 Business and Employment Recovery Program which supports government initiatives to expand labor market programs that address skills mismatches and promote training to reskill and retool workers to meet new demands in the post-pandemic jobs market.

By Lito Gagni

MANILA and Moscow have signed a coop -

eration agreement to bolster ties between the two megacities, in a move seen to lead to partnership deals on trade ties, health care, environment, and investments, among others.

T he cooperation agreement, signed by Manila Mayor Honey Lacuna and Moscow Mayor Sergey Sobyanin, will also provide an opportunity

to boost tourism in the two cities, according to Russian Federation Ambassador Marat Pavlov, who keynoted a business forum dubbed “MoscowManila: Modern Vectors of Bilateral Cooperation” held at the Diamond Hotel. A side from business ties, the two cities also vowed cooperation through cultural exchanges, with Moscow presenting its world-renowned Russian Folk Dance Ensemble “Gzhel” Monday night at the Aliw Theater.

Continued on A5

THE Philippines has received a new $600-million loan from the World Bank to boost the resiliency and sustainability of its financial sector and strengthen economic recovery from the Covid-19 pandemic.

RUSSIAN Federation Ambassador Marat Pavlov poses for a photo with DICT Undersecretary Anna Mae Lamentillo and Moscow-Manila Business Forum participants D. Edgard A. Cabangon and Sharon Tan.

Editor: Jennifer A. Ng

Companies

Wednesday, February 1, 2023

Signals indicate PSE index will hit 8,250 points–COL

By VG Cabuag @villygc

Based on the previous year’s performance of the main index, Barredo said the market is weaker during the months of February and March, before going up in the succeeding months starting April.

April Lynn tan, CoL’s chief equity strategist, said there are a lot of “compelling reasons” for the continuous rise of Philippine stocks this year, including tamer inflation.

consumer spending.

“And, you know, in the view of investors, the Fed has been successful in controlling inflation. So, of course, inflation won’t just go down steeply, but at least you know, from a peak of 8 percent in 2022, it’s expected to go down to 3.8 percent.”

B1

SMC unit, Meralco to renegotiate PSA

Sout H Premiere Power Corp. (SPPC) and the Manila electric Co. (Meralco) will proceed to renegotiate their power supply agreement (PSA) after the 13th Division of the Court of Appeals (CA) issued a writ of preliminary injunction (WPI).

Juanis Barredo, CoL’s chief technical analyst, the Philippine Stock exchange index (PSei), will initially drop to as low as 6,400 points before going up to the 7,000-point level.

“I think a lot of bullish signals have just recently come out. We’ve seen it break through the downtrend line, we’ve seen it break through the 200-day moving average, we’ve seen

it generate the ‘Golden Cross’,” Barredo said during CoL’s media briefing on tuesday.

He said, however, that he is leaning towards the PSei hitting the 7,500-point level by yearend.

“So accumulate into these pull backs. (We’re seeing) a potentially higher index, something between 7,500 and 8,250.”

Lower inflation is expected to prompt the united States Federal reserve to cut rates, which will be followed by the Bangko Sentral ng Pilipinas. t his could lead to the weakening of the dollar against the peso.

ta n said the risks to the market’s performance for the year are the possible hard landing of the uS economy and elevated inflation in the Philippines, which could dampen

According to CoL’s survey, investors are concerned about a worsethan- expected recession in the uS a nd europe, and global geopolitical issues. Some 54 percent of those who were surveyed in January, meanwhile, were optimistic on the growth of the PSei , higher than the 33 percent who were optimistic when they conducted the survey in July last year.

Majority of investors are still planning to increase their stock portfolios, CoL said.

PSALM: 14 bidders keen on CHEPP

By Lenie Lectura @llectura

Fourteen prospective bidders have signified their intent to participate in the sale of the 165-megawatt Casecnan Hydroelectric Power Plant (CHePP), the Power Sector Assets and Liabilities Management Corp. (PSALM) said tuesday.

t he 14 firms are Fresh r iver Lakes Corp., neptune Hydro Inc., Sta. Clara International Corp., GigaAce 11 Inc., Pan Pacific renewable Power Phils. Corp., Semirara Mining & Power Corp., Global Hydro Power Corp., Belgrove Power Corp., Axia Power Holdings Philippines Corp., Panasia energy Inc., Hansan Solar Corp., San roque Power Corp., eeI Power Corp. with Soosan enS Co Lt D

and Soosan Industries Co. Ltd., and Peakpoint Inc.

During the pre-bid conferences held last week, PSALM said the interested bidders raised their concerns on the terms and conditions of the sale.

“

t he two conferences enlightened bidders of their lingering queries on the bidding process and the potential concerns attendant to managing the Casecnan plant,” said PSALM.

Among the key issues discussed include tax laws and regulations that could affect the successor company; role of the winning bidder to lead the crafting of the Special use Agreement in Protected Areas (SAPA) with the Department of environment and natural resources; water permits for power generation and irrigation;

other permits currently enforced or to be secured by the winning bidder; observance of Indigenous Peoples (IP) rights when the new owner takes over the management of the plant; and safety considerations prior to inspecting the plant.

t he CHePP is a “run-of-river” type of plant with limited impounding area. t he water from the reservoir flows into the plant’s powerhouse, down to the Pantabangan lake and into the irrigation channels of the national Irrigation Administration, which will continue its mandate of irrigating farmlands even after the privatization of the CHePP.

Located at Sitio Pauan, Brgy. Villarica, Pantabangan, nueva ec ija, about 150 kilometers north of Manila, the CHePP was covered by a

build-operate-transfer agreement which ended on December 11, 2021.

“We envision that the sale of the Casecnan Plant will be successful, efficient and judicious for PSALM and the winning bidder who will take over its management.

t his second pre-bid conference paves the way for a good return on investment for the winning bidder, starting with a more market-responsive price and on an ‘as-is, where-is’ and cash basis sale for the Casecnan plant,” said PSALM President and Ceo Dennis edward A. Dela Serna.

PSALM held its second and third pre-bid conferences last January 25 and 27, respectively. t he deadline for the submission of bids is on March 28, 12 noon at the PSALM of fice in Quezon City.

CADPI, labor unions strike compromise deal–NCUSIP

By Samuel P. Medenilla @sam_medenilla & Jasper Emmanuel Y. Arcalas @jearcalas

THe Central Azucarera Don Pedro Inc. (CADPI) was able to avert a labor strike in its Batangas refinery plant after signing a compromise agreement with its labor unions last week.

national Congress of the un ions in the Sugar Industry of the Philippines ( nC u SIP) President r oland de la Cruz, however, lamented the outcome of the deal forged last January 24 as it will result in the permanent displacement of 125 workers, who were affected by the decision of CADPI to shut down its sugar mill.

“Almost all of the [affected] employees have already accepted their fate. t hey already filed a quit claim and they already accepted the separation pay. It was a bitter pill for us to swallow (as we entered) into a compromise,” de la Cruz told BusinessMirror in a phone interview.

“of course, we cannot stop them [from accepting the separation package] especially if they are already experiencing hunger. Some of them are looking for new employment, while others have already reported to their new employers,” he said in Filipino.

Concessions

tHe labor leader, however, said the groups were able to win some concessions from the CADPI management,

including a P10,000 cash benefit on top of the separation package already received by the affected workers.

He also said they were able to secure a signed commitment from the CADPI management that they will be informed on future “significant changes in company personnel policies.”

n C u S IP stressed the importance of the said document since they received reports that the management is planning to implement another round of job cuts next month.

t he two labor unions of CADPI— the Batangas Labor union (BLu ) which covers the rank and file employees, and the Professional technical Workers union (P t W u )—are affiliated with the nCuSIP.

“If they push through with their planned job cuts, we may no longer be open to mediation. We may push through with our plans to hold a strike (vote),” de la Cruz said.

Despite losing many of its members, the labor unions of CADPI have retained their bargaining power as well as their existing Collective Bargaining Agreement with their management, which will remain effective until 2027, according to de la Cruz.

t he strike, he said, will be their last resort as the unions want to preserve the jobs of the remaining CADPI employees.

nCuSIP

denly announced its decision to close its sugar mill operations without informing its workers beforehand.

After 9 conciliation and mediation meetings facilitated by the DoLe , the strike notice was finally settled last week.

Aid to affected workers to provide aid to the affected workers, DoLe -region 4-A Director Ma. Karina B. trayvilla said Labor and employment Secretary Bienvenido e Laguesma ordered the release of P80 million to provide emergency

employment and livelihood to workers and sugar farmers, who were affected by the closure of the CADPI sugar mill.

She said the program will cover 2,000 beneficiaries, which include displaced milling plant workers, sugarcane field workers, and small farm cultivators/small planters.

t h e bulk or 988 of the beneficiaries are from the Pagkakaisa ng mga Manggagawa sa tubuhan (PAMAt u )

Continued on B2

to be clear, the grant of WPI suspends the continued implementation of the PSA but does not terminate the same. t his is to allow the parties to negotiate the terms of the PSA. t he parties are directed to enter into good faith negotiations as stated in paragraph

11.4 (d) of the PSA,” Associate Justice Mary Charlene Hernandez-Azura said in an 8-page order promulgated on January 25.

t he appellate court said SPPC—a unit of SMC Global Power Holdings Corp. (SMCGP) of conglomerate San Miguel Corp.—and Meralco shall agree on a “satisfactory solution” regarding the amendment of their PSA to SPPC’s commercial position prior to such change in circumstances, including an adjustment of the contract price.

If they fail to reach an agreement within 60 days from the commencement of the negotiations, SPPC will be entitled to terminate the PSA.

At the same time, the court ordered SPPC to post a P100-million bond.

Prior to the issuance of the WPI, SPPC secured a temporary restraining order (tro) that stopped the energy regulatory Commission (erC) from enforcing its September 2022 order.

t he tro then led to the cessation of 670MW supply that SPPC was obligated

to deliver under its PSA with Meralco.

t he erC order denied the rate hike joint petitions of SPPC and San Miguel energy Corp. (SMeC), and Meralco for price adjustments to serve as temporary relief covering a combined P5.2 billion in losses incurred from January to May 2022 due to the unprecedented spike in fuel prices.

According to the erC, their plea for price increase was denied because the agreed price in the PSA is fixed in nature, and the grounds for increase cited by SPPC and Meralco were not among the exceptions that would allow for price adjustment.

t he same court directed SMeC , Meralco, and erC to file a comment after the Sixteenth Division of the CA granted SMeC ’s motion to consolidate the subject case with that of SPPC.

“Without necessarily giving due course to the petition, respondents are directed to file a comment (not a motion to dismiss) within a non-extendible period of 10 days from notice. Petitioner may file a reply within a non-extendible period of five days from receipt of the comment,” the CA resolution stated.

It can be recalled that the 16th Division of the CA issued a resolution last January 13, denying the petition for the issuance of a t ro filed by SMeC that was meant to suspend the implementation of the September 29, 2022 order of the erC . However, it allowed the consolidation of the two cases.

As of press time, Meralco and the erC have yet to comment. Lenie Lectura

Stockbroker coL Financial Group Inc. expects the main index to reach 8,250 points by end-2023 or by early next year, as the Philippine economy continues to grow.

DTI mentors 762 MSMEs for intl, local expositions

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

DAVAO CITY—More than

700 local upstarts and small businesses have conquered hesitance and jitters to enter the international and national exposition of products to contribute to multibillion-peso earning for the region, including negotiated sales.

The regional Department of Trade and Industry (DTI) said the participation of the small businesses and upstarts were under its exports and investments development program.

“The agency has facilitated the participation of 762 MSMEs (micro, small, medium enterprises) in two international, seven national, eight regional, two provincial, and three municipal trade fairs,” the DTI Region 11 said.

This resulted to earnings of P13.48 million in cash sales, P23.22 million in booked sales and P3.2 billion in sales that were still under negotiation.

The DTI said that the successful participants were among the total of 26,108 MSMEs that it assisted last year. This was 104 percent of its target of 25,200 MSMEs for the year.

Its implementation of the Philippine Center for EntrepreneurshipGo Negosyo’s mentorship program and the Kapatid Mentor Micro Enterprise-Money Market Encounter (KMME-MME) Online, has also graduated 99 new small business last year. This brought to a total of 746 graduates regionwide since its implementation in 2016.

Alongside this was its livelihood seeding assistance through the Negosyo Serbisyo sa Barangay (NSB) and Pangkabuhay sa Pagbangon at Ginhawa (PPG). The DTI said that its provincial offices successfully conducted their caravans in 269 barangays and provided 5,177 business and livelihood kits worth P8,000 to P10,000 each regionwide to selected MSMEs which were hardly hit by the Covid-19 pandemic.

The DTI regional and provincial offices here have likewise extended their assistance to 180 investors in the priority industries, it added. These include cacao, coffee, banana, coconut, rubber, information and communication technology (ICT), seaweed, rubber, wearables and homestyle and processed fruits and nuts.

Its provincial offices also have processed a total of 2,800 permits and licenses to increase the business activities in the provinces. These licenses include Sales Promotion permits, Certificate of Conditional Release and Certificate of Exemption for Import Commodity Clearance (ICC), Service and Repair certificates, Private Emission Testing Center (PETC) certificates, Land Transportation Office Endorsements, Truck Rebuilding Accreditation Certificates and Philippine Standard (PS) license.

This has earned a regional client satisfaction rating of 99 percent.

In the other areas of performance for the agency, it said it conducted workplace monitoring “as part of its commitment to protecting consumers and the general public against the spread of the Covid-19 virus. A total of 311 workplaces and 53 barbershops and salons were monitored for the year.”

It approved 160 Safety Seal Certification applications from the establishments under its jurisdiction.

The agency likewise resolved all consumer complaints through mediation and arbitration within the prescribed time.

“We would like to extend our sincerest gratitude to our public and private partners and collaborators who helped us in our journey this year. As we gear towards the full recovery of our economy, we will continue to innovate the way we do things as we continually deliver serbisyong higit pa sa inaasahan,” DTI Davao Region Regional Director Maria Belenda Q. Ambi said.

Philippine halal-certified food products set to steal the spotlight at Gulfood ’23

Led by the Center of International Trade Expositions and Missions (CITEM), the Philippines’ hybrid participation will consist of manufacturers and exporters of fresh and processed fruits and vegetables; processed marine products; ethnic and gourmet products; non-alcoholic beverages; confectionary, biscuits, and pastries; and other food and beverage categories.

The Philippine participation will highlight small and medium enterprises (MSEs) with halal certification and high-value and innovative products under the banner of the country’s collective food promotion program, FOODPhilippines.

CITEM seeks to strengthen the Philippines’ presence in the Middle East and Africa (MEA) region through its participation in Gulfood. Gulfood is a renowned international platform dedicated to food and beverage processing in the MEA, attracting more than 98,000 key industry players and decision-makers and over 5,000 exhibitors yearly. As one of the world’s largest food and beverage trade exhibitions, Gulfood is instrumental in expanding the Philippines’ market share in the global halal trade.

“We want to position the Philippines as a reliable source of fresh, healthy, and natural food products and ingredients to match the trend toward healthier and more sustainable diets. The Philippines’ participation in Gulfood 2023 is extremely strategic because the MEA region is one of the biggest markets for halal food, which often overlaps with organic and plant-based food,” said Trade Promotions Group (TPG) Assistant Secretary Glenn G. Peñaranda.

The UAE remains an attractive market for Philippine produce and goods as food exports to the country have remained steady amid the pandemic, according to the Philippine Trade and Investment Center (PTIC) in Dubai. It is also the most important import market for halal products in the Middle East along with Saudi Arabia.

“The Philippines’ participation in Gulfood is critical to increasing our share of the halal food market. Because of the large population of Filipinos in the United Arab Emirates, there’s also a growing demand for Filipino food products. We are confident that this year’s participation will yield positive results and aid

in the mainstreaming of Philippine food products and ingredients in the long run,” said Dr. Edward L. Fereira, Ph. D., CITEM Executive Director. The country’s participation in Gulfood 2023 will benefit from the agency’s updated lead generation and digital promotion platforms for the food industry. This year, CITEM aims to enhance the country’s hybrid participation by providing a “365 sourcing experience” with a strategic combination of physical and digital components.

The Philippine pavilion will be lo-

Mekeni Picnic Hotdog now available in the US market

MEKENI Picnic Hotdog, Chicken and Pork Longaniza, and Chef’s Sausage are now available in Island Pacific Supermarket stores.

Mekeni Food Corporation reached another export milestone as its flagship hotdog brand, Picnic Hotdog, is now available in the US.

Mekeni, a homegrown local brand based in Pampanga, made their Picnic Hotdog available in the US through Island Pacific Supermarket, one of the biggest Asian/Filipino supermarkets on the West Coast.“It feels different bringing our flagship brand to the US. When we launched our street food products and tocino early last year, we were flooded with questions from friends, relatives, acquaintances, and kababayans about when we would bring Picnic Hotdog. They say they miss it. The time has come,” said Mekeni President Prudencio S. Garcia.

Picnic Hotdog is already the seventh Mekeni-branded product available there through Island Pacific.

In January, Mekeni brought street-food favorites Kikiam and Fish Balls to branches across California and Nevada. Last July, Mekeni Classic Tocino was introduced to the Filipino community on the East Coast, particularly in New York and New Jersey, followed by Orlians, Squid Balls, and two variants of Fish Ball Sauce. These marine-based products are now available in key cities with Filipino communities.

The export expansion has always been in the plans of Mekeni. It started its export business in 2011 when it had a trial delivery to Dubai. This was followed by the accreditation of the Japanese government that allowed Mekeni to export to the country.

Filipinos in the US can now feel

closer to home with Mekeni Orlians, Squid Balls, and Fish Ball Sauce!

“These milestones are a step toward further realizing our vision to be a world-class brand and our mission to uplift the lives of our employees and Filipinos worldwide.

This is also a win for the Filipino culture as what we are bringing to the world are #TimplangAtin flavors that we are proud of and love,”

added Garcia. Mekeni’s Chef’s Sausage, Chicken and Pork Longaniza are now available in the US, while Kikiam, Fish Balls, Squid Balls and Orlians are now on sale in Canada.Mekeni expects to launch more products in Qatar, Japan, and Canada by early next year.

“We Filipinos are known for our tight family relationships and love for food. With these products, we hope to not only make our products known abroad but for overseas Filipinos to continue savoring Pinoy flavors and feel closer to their roots,” said Marilou Uy, Mekeni’s assistant vice president for HR and Exports.

Mekeni products can be bought at all branches of Island Pacific. Orders and dealership inquiries can be directed to Northridge Foods at 6267890715 and northridge8@gmail.com.

cated at booths R152 and R174 of the Sheikh Rashid Hall. The Philippines’ hybrid participation is organized by the Department of Trade and Industry’s export promotion arm, CITEM, in partnership with PTIC-Dubai.

More products from Philippine Gulfood exhibitors, as well as hundreds of other small and mediumsized enterprises (SMEs), will be showcased at IFEX Philippines, which will be held at the World Trade Center Metro Manila in Pasay City, Philippines from May 26 to 28, 2023. You can also visit the exhibitors’ digi-

tal storefronts at IFEXConnect.com or browse stories on the Philippines’ rich food culture and culinary landscape at foodphilippines.com.

About CITEM

T HE Center for International Trade Expositions and Missions (CITEM) is the export promotions arm of the Philippine Department of Trade and Industry (DTI).

For nearly 40 years, CITEM has established the country’s image as a premier destination for quality export products and services. It continues to set the highest standards of creativity, excellence and innovation to achieve competitiveness in the home, fashion, lifestyle, food, creative, and sustainability sectors.

CITEM is committed to developing, nurturing, and promoting micro, small, and medium enterprises (MSMEs), brands, designers, and manufacturers by implementing an integrated approach to export marketing in partnership with other government and private entities.

10 start-ups complete 917Ventures accelerator program by 500 Global

500 Global, one of the world’s most active investors, hosted Demo Day on January 18 in collaboration with the Philippines’ largest corporate venture builder, 917Ventures, marking the culmination of a 10-week virtual accelerator program designed to scale 10 917Ventures portfolio companies.

Held at the Bonifacio Global City in Taguig, Philippines, Demo Day showcased 10 of the country’s start-ups with exciting potential across e-commerce, fintech, marketplace, data, edutech, B2B SaaS, media and entertainment.

They presented to a diverse audience of ecosystem stakeholders, industry leaders and government officials, with the potential for partnership opportunities with the Globe Group, the Philippines’ top digital solutions platform, and the Ayala Corp, one of the Philippines’ largest conglomerates.

“Congratulations to the founders for being selected and completing the program. Your dedication and determination are inspiring, and we wish you success as you continue on your journey,” said Ee Ling Lim, Executive Director of Market Launch, 500 Global.

Coached by 500 Global’s network of world-class mentors, the companies underwent training to create sustainable growth marketing strategies and build solid foundations to help them build their next stage of growth.

“We are excited to see what’s next for our portfolio companies that took part in this accelerator program. We have no doubt the 500 Global program will serve as fuel that will drive our portfolio companies to success,” said Vince Yamat, 917Ventures Managing Director.

The following are the 917Ventures portfolio companies that took part in the accelerator program:

n Rappit: premium grocery app that promises more efficient deliveries and a better shopping experience.

n FundSpace: loan platform that offers small and medium enterprises various financing options which cater to their exact needs, dependent on their financial health, cash flow patterns, and growth potential.

n Carsada: used car marketplace that revolutionizes the customer’s experience in buying used cars.

n EdVenture: online learning platform that provides virtual oneon-one and personalized tutorials for students from preschool to Grade 10. The platform connects vetted, accredited tutors to students across the Philippines for subjects such as Math, Reading, and Science.

n KodeGo: transforms beginners and career shifters into highly-skilled professionals by providing them with education and training in various technologies

n Housify: property marketplace that simplifies and speeds up the customer’s home-buying cycle, from search to turnover and moving in.

n RUSH: eCommerce and Loyalty SaaS on a mission to bring businesses closer to their customers.

n MemoApp: all-in-one tool for memo tracking and approval requests.

n Capitan: aims to be the growth and enablement partner of micro small and medium entreprises, guiding them in every step of their digital transformation so that they may survive and thrive in the digital economy.

AdelegAtion of 18 Philippine companies will showcase premium halal-certified food products through a country exhibit at the gulf Food Hotel and equipment ex hibition and Salon Culinaire, or gulfood, to be held at the dubai World trade Centre in the United Arab emirates from February 20 to 24, 2023.

CITEM has been organizing the Philippine participation in Gulfood since 2018. Banana, one of the Philippines’ top food exports, is among the products and ingredients that will be showcased in the Philippine pavilion.

Gulfood offers opportunities for Philippine exhibitors to connect with new buyers and expand their markets.

U/KB outstanding loans grew by 13.4% Y-o-Y

By Cai U. Ordinario @caiordinario

“Looking ahead, the BSP will ensure that liquidity and credit conditions are in line with its primary mandate of promoting price and financial stability,” it added.

Based on the data, salary-based general purpose consumption loans posted a growth of 63.8 percent to P120.718 billion in December 2022.

This is slower than the 67.4 percent recorded in November but faster than the 63 percent posted in October. These loans reached P124.24 billion in November and were at P73.697 in December 2021.

The latest data showed the outstanding loans of universal and commercial banks (U/KBs), net of reverse repurchase (RRP) placements with the BSP, grew by 13.4 percent year-on-year to P10.58 trillion in December 2022.

The bulk of these loans were still used for production in various sectors of the economy at P9.555 tril-

lion while P1.025 trillion was used for consumer loans: credit cards; motor vehicle loans; salary-based general purpose consumption loans; and, others.

“The sustained growth in credit activity and ample liquidity will continue to support the recovery of economic activity and domestic demand,” the central bank said.

Salary-based general purpose consumption loans posted the fastest growth among consumer loans in December. This was followed by credit card loans which grew 26.3 percent in the last month of the year.

The growth in credit card loans was slower than the 26.6 percent

Claims of non-bank financial entities up

THE Bangko Sentral ng Pilipinas (BSP) reported that the domestic claims of other financial corporations (OFCs) grew 3.3 percent in the third quarter of 2022.

According to the OFC Survey (OFCS), these non-bank financial institutions had domestic claims of P7.49 trillion in the third quarter of 2022 from the P7.256 trillion posted in the same period in 2021.

The BSP said this growth was brought about by higher claims on the central government and the other sectors.

“In particular, the OFCs’ claims on the central government rose, following the increase in their holdings of government securities. Similarly, the OFCs’ claims on the other sectors grew slightly, owing to the increase in loans extended to the private sector, i.e., the households and nonfinancial corporations,” the BSP said.

BSP added that OFCs’ claims on depository corporations declined

in the July to September period in 2022 from 2021 due to the decrease in their holdings of bank-issued debt securities and bank deposits.

By component, the data showed claims on the other sectors, particularly the private sector, comprising the bulk of the OFCs’ domestic claims, followed by claims on the central government and depository corporations.

The OFCs’ net foreign assets increased significantly by 28.4 percent to P246.9 billion in the third quarter of 2022 from P192.3 billion in the third quarter of 2021.

This was largely due to the expansion in its investments in debt as well as shares and other equity securities issued by non-resident entities.

BSP said the expansion in the OFCs’ gross assets was funded mainly by its issuances of shares and other equity to other sectors.

The BSP explained that OFCs refer to institutional units providing financial services other than banks,

non-banks with quasi-banking functions, non stock savings and loan associations, and the central bank.

These institutional units are non-money market funds of trust institutions, trust corporations, and investment companies, private and public insurance corporations, holding companies, government-owned or -controlled corporations engaged in financial intermediation, and other financial intermediaries and auxiliaries.

Other Sectors cover the following: (a) state and local government, (b) public nonfinancial corporations, and (c) private sector.

The private sector is composed of other nonfinancial corporations, and households and non-profit institutions serving households.

The other nonfinancial corporations refer to private corporations and quasi-corporations whose principal activity is the production of market goods or nonfinancial services. Cai U. Ordinario

Financial literacy partnership takes off

THE Financial Executives Institute of the Philippines (Finex) has forged an alliance with the ALC Group of Companies for the promotion of financial literacy and inclusion. Citystate Savings Bank (CSBank), a Philippine Stock Exchange-listed company and member of the ALC Group, signed a memorandum of agreement with Finex last month to jumpstart the joint advocacy project. 2022 Finex President Michael Arcatomy H. Guarin and CSBank Executive Vice President Jaime Valentin L. Araneta were the signatories for the two organizations.

Philippine Business Mirror Publishing Inc., a subsidiary of the ALC Group, is a long-time media partner of Finex, which has also linked up with another ALC affiliate, CNN Philippines. During its 25th anniversary in August 2022, CSBank signified its intention to expand this partnership with Finex through its three other affiliated media outlets, namely: Pilipino Mirror; DWIZ-AM; and, IZTV.

Last December 28, 2022, CSBank and Finex launched “PeraPera,” a weekly newspaper column published in the print and online editions of Pilipino Mirror, the country’s pioneer business tabloid targeting the CDE market. Finex writers Rey Lugtu, Edith Dychiao, Gay Santos and Tonyboy Ongsiako are taking turns in writing this vernacular column about such topics as saving money and how to invest in the capital markets.

Next to be rolled out will be a radio segment on DWIZ-AM station and a broadcast program on IZTV network. Content for these two shows shall be provided by resource persons from Finex who are going

Finex Free enterprise

Joseph Araneta

to discuss basic issues on personal finance and financial inclusion for the masses. This joint project is being spearheaded by the Finex Media Affairs Committee and CSBank’s Integrated Marketing Communications Unit.

Face-to-face Finex induction

FOR the first time in three years, Finex held an in-person induction ceremony last January 23 at the ballroom of New World Hotel in Makati City. This year’s theme is “Forging Ahead: Accelerating Inclusive and Sustainable Growth.”

2023 Finex President Wilson P. Tan, chairman and managing partner of SGV & Co., was sworn in together with the board members and committee officers of the Finex Institute, Finex Foundation and Finex Academy. Trade and Industry Secretary Alfredo E. Pascual, who is also a Finex member, served as the keynote speaker and inducting officer.

In his inaugural address, Tan said: “It’s important for leaders to leave behind the pandemic mindset of caution and risk aversion. Leaders should adopt a bold mindset of optimism and growth. Companies must place a greater focus on sustaining growth while continuing to prioritize inclusiveness and the wellness of its people.” He committed to continue the work done

posted in November. In total, credit card loans reached P554.314 billion in December, higher than the P539.695 in November and P438.816 billion in December 2021.

This was followed by Motor Vehicle Loans which posted an 11.5 percent growth in December from 8.7 percent in November last year.

These loans reached P325.367 billion in December 2022.

This was slightly lower than the P325.884 billion posted in November 2022 but was higher than the P291.796 billion in December 2021.

Meanwhile, outstanding loans to residents, net of RRPs, rose by 13.2 percent in December after a 13.6-percent (revised) increase in the previous month.

Outstanding loans for production activities expanded by 12.1 percent in December from a 12.6-percent (revised) rise in November driven

largely by the credit growth of key industries.

These industries included real estate activities (13.1 percent); manufacturing (14.9 percent); electricity, gas, steam and airconditioning supply (14.4 percent); wholesale and retail trade, repair of motor vehicles and motorcycles (12.7 percent); and information and communication (21.6 percent).

Domestic liquidity

BSP’S preliminary data on domestic liquidity (M3) grew by 6.4 percent year-on-year to P16.3 trillion in December from the 5.5-percent growth in November. Month-on-month, M3 increased by 0.9 percent.

Domestic claims rose by 12.5 percent year-on-year in December from 11.0 percent (revised) in the previous month with the broadly steady pace of bank lending to the private sector.

“The BSP will ensure that domes-

Customs exceeds Jan. tariff collections target

By Jasper Emmanuel Y. Arcalas @jearcalas

in the past two years and hopes to sustain the transition from recovery to growth.

Pascual emphasized the role of innovation and the new technologies it entails in the creation of new goods and services in the market— resulting in the emergence of new industries and the expansion of productive capacities, which in turn, create more quality jobs.

The chief of the Department of Trade and Industry (DTI) disclosed that to achieve inclusive and sustainable growth that raises the quality of life for all Filipinos, the DTI will build a dynamic industry ecosystem on six strategic actions: embracing the Fourth Industrial Revolution; developing entrepreneurial startups and innovative MSMEs; integrating trade, investment promotion and industry development activities; developing human capital and workforce capacity-building programs; promoting regional industrialization; and fostering an enabling economic environment to attract more investments.

Four industrial clusters are seen as sources of growth for the Philippines: industrial manufacturing and transport; technology, media and telecommunications; health and life sciences; modern basic needs of a resilient economy.

“We invite our partners in Finex to work with us in pushing the country in that direction,” Pascual concluded.

Joseph Gamboa is the vice chairman of the Finex Ethics Committee and director of Noble Asia Industrial Corp. The views expressed herein do not necessarily reflect the opinion of these institutions

www.finex.org.ph.

THE Customs bureau said its tariff collections as of January 27 already reached P65.801 billion, surpassing its total revenue target last month of P58.822 billion.

The Bureau of Customs (BOC) said its preliminary data showed that tariff collections during the reference period were already 13.1-percent higher than the P58.174 billion recorded revenue in January last year.

“Customs Commissioner Yogi Filemon Ruiz continues to lead the BOC in implementing stringent measures to counter illicit trade and Customs fraud while improving trade facilitation and increasing lawful revenue collection in line with the directives of President Ferdinand R. Marcos Jr.,” the BOC said in a statement on Tuesday.

Earlier this year, the BOC has al-

tic liquidity conditions remain appropriate to support the prevailing stance of monetary policy, consistent with the BSP’s price and financial stability objectives,” BSP said. Claims on the private sector grew by 10.5 percent in December from 10.6 percent (revised) in November due to the sustained expansion in bank lending to non-financial private corporations and households.

Net claims on the central government rose by 21 percent in December from 13.8 percent in November owing to the borrowings by the National Government.

Meanwhile, net foreign assets (NFA) in peso terms declined by 3.5 percent in December from the 1.5-percent (revised) contraction in November.

The NFA of banks fell mainly on account of higher bills payable. Similarly, the BSP’s NFA position contracted by 3.4 percent in December.

T-bonds sale bags

₧35B

THE national government was successful in borrowing P35 billion on Tuesday from the auction of reissued Treasury bonds (T-bonds) behind acceptable rates asked by investors.

The Bureau of the Treasury’s (BTr) auction committee fully awarded the T-bonds, which had a remaining term of 12 years and 8 months, that saw total tender from investors reaching P78.933 billion, more than double the programmed amount.

“With a remaining term of 12 years and 8 months, the reissued bonds (FXTN 25-07) fetched an average rate of 6.197 percent, lower than the previous average of 7.182 percent when it was last reissued on January 10, 2023,” a statement from the Treasury read. The average rate of the reissued T-bonds was also close to the 6.155 percent secondary market benchmark rate for the debt paper. The rates of the T-bonds ranged from a low of 6.0 percent to a high of 6.25 percent.

ready expressed confidence that it will be able to meet its full-year collection target of P901.337 billion. The BOC has also set an internal collection target of P921 billion.

Last year, the BOC’s total revenue collections rose by 34 percent on an annual basis to a record high of P862.929 billion on the back of higher imports and better system of collection. (Related story: https://businessmirror.com. ph/2023/01/13/customs-collection-for-2022up-34-to-recordhigh-%E2%82%A7863b)

The BOC collected P643.562 billion in 2021. The BOC added that it surpassed its revenue collection target last year of P721.52 billion by 19.6 percent based on its preliminary report.

“It was the first time in the BOC’s history that all ports exceeded their annual collection targets per the BOC Financial Service,” the bureau said in a statement last month.

“With its decision, the committee raised the full program of P35.0 billion, bringing the total outstanding volume for the series to P163.4 billion,” the Treasury’s statement read.

With the results of the Tuesday auction, the national government started its borrowing program for the month of February on a strong note following a full award of the P15-billion worth of Treasury bills (T-bills) last Monday.

The government seeks to borrow P200 billion in February from the domestic market through the auction of T-bills and Treasury bonds (T-bonds). (Related story: https://businessmirror.com. ph/2023/01/25/government-eyesto-borrow-p200b-via-debt-mart/)

The Treasury has been off to a good start this year in terms of raising funds for the national government through local auctions of T-bills and T-bonds.

The Treasury has been able to achieve full-award of government securities in recent weeks as investors’ asking interest rates ease within or even below secondary market benchmark levels. Jasper Emmanuel Y. Arcalas

BPI eyes clients via deal with Lazada

AYALA-LED Bank of the Philippine Islands (BPI) eyes to attract as much as 8 million new clients from its new partnership with Lazada E-Services Philippines Inc. that allows consumers to avail the bank’s products through the e-commerce platform owned by Chinese multinational technology company Alibaba Group Holding Ltd.

BPI Senior Vice President Jose Raul E. Jereza IV said the bank has not set a solid target on how many new clients they want to have from its partnership with Lazada.

BPI and Lazada launched on Tuesday its latest tie-up that allows the former to offer its various banking products digitally through the latter’s platform.

Nonetheless, Jereza noted that he would be “happy” if they will be

able to capture at least 10 percent of Lazada’s 80-million strong client base by year-end.

“It is like a [BPI] branch in a city with 80 million people. So, if I get 10 percent of that in one year, that is huge,” he told reporters on the sidelines of the partnership launch in Makati. BPI’s partnership with Lazada is the first of an expected series of collaborations by the bank with non-bank entities nationwide, Jereza explained.

Jereza, who has been designated to head the BPI’s agency bank, said the bank will be launching a series of partnerships in various non-bank industries within the first quarter of the year to allow more Filipinos to avail their services.

BPI President and CEO Jose Teodoro K. Limcaoco said with the

recent partnership BPI became the first bank on Lazada.

“This is our means of bringing BPI to everyone in the Philippines since Lazada is the most successful e-commerce site in Southeast Asia,” Limcaoco said.

Limcaoco explained that the goal of BPI Agency Bank is to bring BPI to “every” Filipino nationwide by partnering with non-bank industries such as retail stores, gas stations and drug stores, among others.

Lazada Philippines CEO Carlos Barrera said one of the company’s thrusts is to “drive” financial inclusion in the Philippines.

“We have 80 million customers and every single of them needs to be included in the financial system and be bankanized one way or another,” Barrera said. Jasper Emmanuel Y. Arcalas

SALARY-bASed loans obtained by Filipinos continued to post a growth of over 60 percent for the third consecutive month, according to data from the bangko Sentral ng Pilipinas (bSP).

Gamboa

GOLDEN ARROWS This Friday, January 20, 2023, photo courtesy of the Philippine National Bank shows PNB President Florido P. Casuela (third from left) with (from left) Securities and Exchange Commission Chairman Emilio B. Aquino, Institute of Corporate Directors Vice Chairman and President Ma. Aurora D. Geotina-Garcia, Philippine Stock Exchange President and CEO Ramon S. Monzon and ICD Chairman Cesar L. Villanueva during ceremonies awarding the PNB of four Golden Arrow Award during the Asean Corporate Governance Scorecard Golden Arrow Awards. CREDIT: PhIlIPP nE naTIonal Bank

Rekindle fizzling financial resolutions

BY DALIA RAMIREZ NerdWallet

SAVE more, spend less and pay off debt are popular New Year’s resolutions—and perhaps the ones most likely to fall by the wayside a few weeks into the year when reality sets in and expenses derail plans. But an early-in-the-year setback, like paying your health insurance deductible or the credit card bills after a costly December, doesn’t have to knock you off course.

After all, you made those resolutions, so you can change them. And making more specific resolutions that are easier to maintain rather than just giving up could put you in a better financial position next year. Here’s how to get back on track.

MAKE YOUR GOALS MORE SPECIFIC AND REALISTIC

BROAD resolutions like “I want to save more this year” can be a helpful starting point, but they make it hard to track your progress. Keeping a specific goal in mind—like a wedding, debt payment or buying a house—puts a dollar amount to your financial goals and gives you something concrete to work toward.

“My goals are more tangible this year,” says Yasmeen Alshabasy, a Los Angeles-based clinical study assistant. “They can be measured and quantified, instead of the symbolic plans I’ve made previously, like gaining more financial freedom.” She has an exact savings goal for the year and plans to use an Excel spreadsheet and tracking app to monitor her weekly budget.

Also, make sure goals are within reason and won’t cause added stress. It may be tempting to set an ambitious savings target, but stay within a range that makes sense for your income and regular expenses.

“Setting achievable targets is really important for me,” says Clayton Becker, a Ph.D. student at the University of California, Los Angeles. He and his fiancee have set their first joint financial goal: saving for their wedding in spring 2024. “Trying to do too much too soon is just going to make you jaded with the process—you’re going to burn out.”

SET UP REGULAR CHECK-INS

CHECKING in formally on your finances only once a year can be overwhelming. Setting up midyear, quarterly or even monthly appointments with yourself or your financial planner—if you have one— can help keep you on track and allow you to change your goals if necessary.

Becker and his fiancee, for example, are planning a dedicated midyear check-in.

“Knowing that’s coming takes a mental weight off,” he says. “We’re trying to save a relatively significant amount, but not so significant that we can’t make adjustments if we find we’re behind halfway through the year.”

Choose a check-in interval that feels reasonable for you to regroup: long enough that you’ll have made progress but not so long that there’s no time to pivot if necessary.

OFFLOAD SOME OF THE WORK

KEEPING track of your financial progress throughout the year can add an unnecessary mental load to your plate. Consider implementing some automation to your money goals, like a monthly account transfer you can set and forget.

“We’ve set up automatic deposits into our joint savings account,” Becker says. “That way, we don’t have to make active decisions about what to save every month.”

For credit card debt, you could schedule monthly payments that are bigger than the minimums. Taking that responsibility off your hands in advance can reduce day-to-day financial stress and make it more likely for you to meet your targets.

For managing large investments, hiring an expert can be worth the cost. Look for a licensed, registered fiduciary, preferably one who is fee-only, meaning they don’t make commissions by selling you financial products. Finding a certified financial planner, or CFP, is a good place to start.

If you have a small portfolio and an uncomplicated financial situation, an in-person adviser might not be necessary; an automated financial adviser could help you manage your portfolio and offer guidance for a much lower price.

BE FLEXIBLE

IT can be tempting to make drastic changes every January and set extreme resolutions for your finances. But a less-stringent, more-forgiving approach could be more sustainable, especially when unexpected expenses come up.

Consider setting monthly limits for “wants” and rolling discretionary spending over to the next month if you surpass the limit instead of eliminating wants completely. Most importantly, don’t abandon your goals after a setback: Overspending by $100 is still better than overspending by $1,000, and making an effort adds up.

“Flexibility and adaptability are key,” Porras says. “Especially with factors outside your control, it’s far better to understand the variables and work to create a solution than being passive and accepting defeat.” AP

Increasing your visibility in the workplace

manager say?

One way you can improve your standing with your manager is to take the extra mile by asking for special projects to show that you are willing to improve your skills. Take the initiative to discuss this with your manager so that when a suitable project for you comes along, they will think of you first.

from my manager was to include me in some of his meetings as an observer so that I could understand how people think in the organization. That helped me understand the culture and how I should present ideas and suggestions in meetings.

ONE of the worst things that could happen during performance reviews is when you list all your accomplishments to your manager, and then they are surprised you did all those things. This is especially true when your manager has numerous direct reports, and your work either flies over their head, or you have not done enough to catch their attention.

When productivity trackers and milestones are not enough to make your manager notice your accomplishments, you need to think of ways to increase your visibility so that when they think of someone they can rely on for a certain task, your name comes up as the first choice. Increasing your visibility to your manager will also help you become familiar to the right people in your organization who can help you get your work done faster and even promote you to others because of your expertise. With your increased visibility, you can then collaborate with others and open doors to new opportunities where you can develop and use your unique talents and skills.

Before going outside your team, your work should be recognized and appreciated by your own team. Make sure that you have a good working relationship with your direct supervisor because once you become familiar in the organization, other organizational leaders will start becoming curious about you and the first one they will ask is your direct supervisor. So, when someone from your organization asks who you

When asking for special projects, leverage on your expertise and look for opportunities to help the team improve the way they do their work. One of the things I learned in previous jobs is how to do a communication plan for internal communication. I took on the special assignment of creating one of the team’s projects, and it helped my manager appreciate the different communication channels available in the organization.

Look for ways to improve your team’s work processes by identifying avenues to reduce cost and increase productivity. One of the things that worked for me was helping my team in using new technology. When my organization started to use a new office software so we could work from home, people in the team were not familiar with it and I would do simulations with them to help them get familiar with using its video conferencing. I eased them through it and later, I became part of the organization-wide team that helped cascade the software to other departments.

Attend training sessions to get to know people from across the organization. Learning sessions provide the venue to know more about what others do, and possibly adapt best practices which you can also use in your own team. Take advantage of the opportunity to get to know others and establish good relations so that you can tap them when the opportunity comes. Offer to help as well and if needed, connect them to other people who might be able to help.

When asked to join a cross-functional meeting, speak up. People need to know how you work and how you think so they can appreciate what you bring to the table. If you do not speak up, they will not find out.

Join cross-functional projects or interest groups where you can work with other people in the organization. One of the things I was asked when I joined an organization was to create a risk registry which I had no idea how to do. I asked my manager for someone I could consult, and he introduced me to someone who was able to help. That started a good working relationship and every time I needed something related to risk, I would always go to that person for consultation.

An interest group is also a good venue for meeting others in the organization. Being part of the peer support group has helped me appreciate the different personalities in the organization and also honed my interpersonal skills in dealing with different personalities. You can learn more about these interest groups by talking to your manager or someone from human resources. Being in an interest group helps people relax and not be worried with titles and positions because the intent is to enjoy a common activity.

If you cannot join in cross-functional projects, then you can help out in organization-wide activities. I was asked twice, in two different organizations I had worked with, to be in a company video to speak about how great it was working for them and the different benefits I enjoyed as part of the organization. If you are not given this opportunity, you can volunteer for roadshows, hosting events, or being at the registration table where people can see you and become familiar with you.

A good practice to help you significantly contribute to a meeting is to read pertinent materials before the meeting. I remember, one of the first things I asked

are and the quality of your work, what would your to a meeting is to read pertinent materials before the first

The arrival of spring

THE Lunar New Year marks the arrival of spring, and the COS Lunar New Year 2023 campaign (www.cos.com) is a nod to the auspicious belief that flowers in full bloom bring good luck in the new year, injecting an overall sense of freshness and optimism into the imagery.

Featuring supermodel Ju Xiaowen, bright contrasting colors further enhance these visuals by adding drama while showcasing luxurious material details and inventive layering. Consisting of looks for women and men, the edit puts forward a palette of vivacious pastels—the likes of lavender, cornflower blue and muted teal— accompanied by a range of elevated wardrobe staples for more dressed-up occasions.

Bold, tonal suiting acts as a stylish dayto-night solution while graphic stripes are here to make a colorful statement. Smart padded pieces are introduced to provide warmth and style in the transitional months; light enough to wear as a buildable layer, or as outerwear when the weather gets warmer. The new collection at the COS Store can be found at SM Aura Premier, 26th Street corner McKinley Parkway, Taguig City.

In the end, your visibility in the organization should be based on your expertise, how you work with others, and a clear track record of your accomplishments. All of these should be evident to your team, which in turn will be known by departments you often work with and could even reach top management. Your work should speak for itself and as your visibility increases, so does your influence. ■

Smart, TNT forge ahead in NTC-led SIM registration set up in remote areas

PRESERVING MANGROVES IN LAGUNA AND CEBU. The Science Park of the Philippines, Inc. (SPPI), the industrial estates development arm of the ICCP Group, continued its advocacy of working with nature and protecting the environment as it conducted propagule planting activities to preserve mangrove areas in Laguna and Cebu. Locators from Light Industrial Science Park (LISP) I and II in the province of Laguna planted over 300 bamboo propagules along the San Cristobal River in Barangay Diezmo in Cabuyao, Laguna (in photo). The river is one of 21 major tributaries of Laguna de Bay. In Cebu, volunteers from Aquilini Mactan Renewable Energy, Inc. and Earthgrain, Inc. – locators in Cebu Light Industrial Park – planted over 4,000 mangrove propagules in Olango Island, a wildlife sanctuary just offshore from Mactan Island and Lapu-Lapu City. The tree planting activities were coordinated and organized by ICCP Group Foundation.

DSHUD awards ‘Outstanding developer’ to Sta. Lucia Land, company sets sights on continued expansion

TRUSTED property developer

Sta. Lucia Land Inc., the listed company of the Sta. Lucia Group, was named “Outstanding Developer” by the Department of Human Settlements and Urban Development (DHSUD) for its exceptional efforts to provide Filipinos with quality housing communities.

that the organization has bagged this prestigious distinction from the DHSUD. In 2021, the Sta. Lucia Group was also named “Outstanding Developer” by the DHSUD Region 4A.

SMART Communications, Inc.

(Smart) and value brand TNT welcomed customers over the weekend at the assisted SIM Registration booth deployed at the Municipal Court of Calumpit, Bulacan. The setup is part of the three-day, nationwide roadshow organized by the Department of Information and Communications Technology (DICT), the Department of Interior and Local Government (DILG), and the National Telecommunications Commission (NTC), to boost SIM Registration and reach far-flung areas where mobile customers are.

DICT Undersecretary Anna Mae Yu Lamentillo said, "Ginagawa po namin ang SIM registration, para makasiguro na ang ating mga kababayan sa labas ng Metro Manila, ay makapagparehistro ng kanilang mga SIM. Kasama po natin ang mga telco at iba't - ibang ahensya ng pamahalaan, na katuwang ng DICT at NTC sa layuning ito

Napakaimportante ng SIM registration. Ito ang unang batas na nilagdaan ng ating Pangulong Bongbong Marcos, at layunin nito na protektahan tayo laban sa masasamang loob.”

Alex Caeg, SVP and head of Consumer Sales at PLDT and Smart added, "Alam po natin na itong SIM registration law ay pinatupad nung isang taon, binigyan po tayo ng ilang buwan para makumpleto ang registration. Alam din po natin na milyonmilyon nang mga tao ang nakumpleto ang kanilang pag register, at marami pa rin po ang naghihintay ng deadline. Sa pakikipagtulungan ng Smart sa DILG, DICT at NTC, we have rolled out SIM registration centers nationwide kung saan matutulungan natin ang mga tao na makapag-register at maiwasan ang mga problema tulad ng scamming at phishing at mahalaga po sana na lahat ay mag comply ng mas maaga.

As of January 27, Smart and TNT

assisted SIM Registration booths are now operating in Pasuquin, Ilocos Norte; in Moalboal, Cebu; in Palo, Leyte; Pangantucan, Bukidnon; in Malalag, Davao del Sur; Calumpit, Bulacan’ Rosario, Batangas; Atok, Benguet; Camalaniugan, Cagayan; Zamboanga City; Baco, Oriental Mindoro; City of Ligao, Albay; Carles, Iloilo; Arakan, Cotabato; and Tagbina, Surigao del Sur. Smart and TNT personnel in the booths are also providing a priority lane for seniors, for persons with disabilities, and for those using basic phones, making SIM Registration as inclusive as possible. Photo shows Atty. Ella Blanca Lopez, OIC Commissioner at the NTC, receiving a certificate of appreciation from Mayor Glorime Faustino of Calumpit, Bulacan, together with leaders from Smart, DICT, DILG, other public telecommunication entities, and other members of the inter-agency committee on remote areas registration.

Fastest growing finance company SAFC rolls out CSR arm; inks partnership with Pasig City government

At the 2022 “Gawad Parangal sa Pagpapaunlad ng Real Estate” held in December last year, DHSUD Region 4A gave the award to the publicly listed company “for actively supporting the housing program of the government under the theme, Abot Kayang Pabahay Tungo sa Panatag na Buhay, by providing quality, affordable and decent housing and other real estate projects in Calabarzon.”

This is the second consecutive year

“We would like to thank the DHSUD for this recognition as it serves as a testament to all our continuing efforts to provide Filipinos with sensible, master planned themed communities that ensure the residents’ safety, comfort and convenience. Beyond just providing spaces, our more than 300 developments across the country allow individuals and families to thrive and live well—whether they want to live in a farm, a beachside home, a condo unit in an urban center, or invest in a condotel,” explained Sta. Lucia Land president Exequiel Robles.

“For 2023, we are looking to sustain the momentum as we have already lined up new projects. We plan to capture this pentup residential demand as we will continue to build more innovative projects that can cater to the needs of our homebuyers and investors,” Robles added.

This year, the award-winning developer will continue to pursue aggressive expansion plans, strategic land banking activities, joint ventures, and portfolio diversification. In particular, it seeks to further expand its presence in 18 provinces, including Bulacan, Pangasinan, Bataan, Pampanga, Nueva Ecija, Zambales, Cavite, Laguna, Batangas, Rizal, Quezon, Palawan, Iloilo, Bacolod, Cebu, Zamboanga, South Cotabato, and Davao.

Spectrum partners Orchard, Biostar reap benefits from solar rooftop projects

IN recognition of its valuable partnerships, Spectrum, a wholly owned subsidiary of Manila Electric Company (Meralco), held a ceremonial turnover of solar rooftop projects for The Orchard Golf and Country Club and Biostar NutriProducts, Inc.

The Orchard and Biostar, during separate events, attested to the benefits of the solar projects, which began operations in early 2022.

Spectrum’s partnership with The Orchard involves solar panels with combined capacity of 99.9kilowatt-peak (kWp) installed at the latter’s sports and leisure facility in Dasmariñas, Cavite.

Completed in January 2022, the solar rooftop has since generated more than 125,000 kilowatthours (kWH) of clean energy, allowing the company to save aaround 10,000 kwh in monthly consumption. This translated to savings in energy cost amounting to P785,000 last year.

which translated into substantial savings of close to P167,000.

Biostar also achieved 15.33 tonnes reduction in carbon footprint, which is equivalent to planting more than 700 trees or lowering vehicle travel per year by 61,054 kilometers. Spectrum has been actively engaging partners from the private sector in various industries to help them achieve their sustainability goals through clean energy.

SAFC recently kicked off the first phase of its Corporate Social Responsibility (CSR) arm, SAFC HEROES, in partnership with the local government of Pasig. SAFC HEROES is one of the many ways SAFC gives back to the community, something the company is committed to do every time. This initiative aims to recognize community heroes or individuals who go above and beyond to help out their communities in their unique ways.

As part of this CSR initiative, SAFC donated 150 school kits for young Pasigueños and 150 vitamin kits for the city’s senior citizens. Joel C. Cruz, SAFC President and Chief Operating Officer, along with Paul Mendoza, SAFC Deputy Chief Operating Officer, led the turnover of the kits, which were received by Pasig City Mayor Vico Sotto and Maro Martires, one of the city councilors.

As SAFC conducts business in the city, Pasigueños will be among the primary beneficiaries of SAFC HEROES. Aside from gifts such as school kits for children and vitamins for seniors, SAFC

will also provide job opportunities for those who want to work as Loan Consultants.

With hard work, dedication, as well as constant guidance from SAFC’s best, loan consultants can earn up to P500,000 in monthly commissions and incentives, all without having to work full-time.

In addition, SAFC is set to launch a startup business loan to qualified micro, small, and medium enterprises (MSMEs) in Pasig to further strengthen the city's robust economy. This business loan will have a low-interest rate to allow MSME beneficiaries to expand their businesses and, in the future, provide Pasigueos with additional job opportunities on top of those provided by SAFC.

Finally, SAFC, through SAFC HEROES, will be actively involved in "Umaagos ang Pag-asa," Pasig City's own community improvement initiative that aims to inspire hope to Pasigueños through assistance programs and job opportunities. SAFC will specifically participate in "Umaagos ang Pag-asa" projects related to the three thrusts of SAFC HEROES: Green Hero. Given to individuals who

are striving to value the environment. Life Hero. Awarded to those who inspire and influence other people to improve their health and well-being. Love Hero. Handed out to people who demonstrate a palpable, unmistakable passion for life by participating in various community activities with utmost zeal and dedication.

The SAFC HEROES program is aligned with both SAFC's 20thanniversary campaign for stakeholders, #vipXXperience: V.I.P, and the company's initiative to strengthen and promote employee volunteerism. It is also consistent with SAFC's vision of making a difference in people's lives, a commitment President and COO Joel C. Cruz has kept for the past two decades. SAFC has grown from its humble beginnings in the early 2000s to a multibillion financial powerhouse. It is now one of the country's financial leaders, with 39 branches and more on the way. With SAFC only getting bigger and better, it is now in a unique position to give back and more. It is doing so with SAFC HEROES, and many other similar initiatives are in the works.

In addition, The Orchard’s carbon footprint was reduced by around 89 tonnes, which is equivalent to planting 4,100 trees or reducing approximately 355,000 kilometers in vehicle travel per year.

Meanwhile, Spectrum’s project with Biostar, a licensed distributor and manufacturer of animal health products in the country, involves a 24.96-kWp rooftop facility at the latter’s poultry farm in San Pablo City, Laguna.

Energized in April 2022, the facility has so far generated some 21,520 kWh of clean energy,

“Since 2016, Spectrum has been committed to providing end-to-end solar services to our customers. Our partnerships with The Orchard and Biostar are testaments to how we help our partners achieve their sustainability goals while also reducing operating expenses such as energy costs. With Spectrum’s topnotch service standards, our partners are also assured of good quality and reliable service for their solar rooftop projects,” Spectrum President and CEO Engr. Ferdinand O. Geluz said.

Spectrum offers tailor-fit solutions for industrial, commercial, and residential customers through an in-depth understanding of energy consumption behaviors and strategic partnerships with world-class technology partners.

Backed by Meralco’s energy expertise and proven safety track record, the renewable energy company has been providing services and solutions to help customers reduce their costs while taking part in saving the planet.

FROM left, Spectrum President and CEO Engr. Ferdinand O. Geluz, The Orchard Golf and Country Club President and CEO Tomas Julio Benitez, and Spectrum Chief Operating Officer Patrick Henry T. Panlilio led the ceremonial turnover event of Spectrum’s 99 kilowatt-peak (kWp) solar rooftop project in The Orchard’s facility in Dasmariñas, Cavite.

FROM left, Spectrum President and CEO Engr. Ferdinand O. Geluz, Biostar Nutriproducts, Inc. CEO Lorna Serviento, and Spectrum Chief Operating Officer Patrick Henry T. Panlilio led the ceremonial turnover event of Spectrum’s 24.96 kWp solar rooftop project in Biostar’s poultry farm in San Pablo City, Laguna.

FROM left, Paul Mendoza, SAFC Deputy Chief Operating Officer, Joel Cruz, SAFC President and Chief Operating Officer, Pasig City Mayor Vico Sotto and Pasig City Councilor Maro Martires

THE Orchard Residential Estates and Golf and Country Club in Cavite is ideal for those who want to live a more active lifestyle.

Bria’s Boom year

By Rizal Raoul S. Reyes

Estrellita Tan, COO of Bria

Homes, described 2022 when the company asserted its status as the most trusted provider of affordable homes in the Philippines. She added Bria was on a roll last year, building comfortable, well-designed housing units in multiple projects nationwide, while making homeownership more accessible for the average Filipino. Since day one, she said Bria has positioned itself as the provider of affordable house and lot package to ordinary Filipinos who aspire to acquire their own homes. At present, Bria is present in

over 50 locations in the country. She said Bria maximized the power of social media when it persistently pushed its developments both north and south of Metro Manila—from Tagum in Davao del Norte to Calbayog in Samar to Manolo Fortich in Bukidnon to Iriga in Camarines Sur and finally to Digos in Davao del Sur.

Moreover, the overseas Filipino workers (OFWs) became a potential driver of the company as it promoted its project offerings which enabled the Filipino expatriates to check out their offerings with just a few clicks.

Leechiu names new project selling head

By Roderick L. Abad

REAL estate brokerage company

Leechiu Property Consultants (LPC) has appointed Jose Ramil Gatmaitan as its director for project selling.

A seasoned real estate professional, he has 20 years of experience working in sales, which he acquired from top developers in the country.

Prior to his appointment, Gatmaitan was the senior regional director for Ayala Land International Sales Inc. (ALISI), where he was responsible for organizing, implementing, and overseeing the firm’s sales operations in Asia, Oceania, Europe, and the United States. Likewise, he was the president of Premier Circle Realty Corp. Gatmaitan earned his Bachelor of Arts in Arts Management from De La Salle University-College of St. Benilde and his Bachelor of Science in Real Estate Management from the Trinity University of Asia.

He has an expertise in real estate growth strategy development and forecasting, real estate sales and marketing, real estate compliance, negotiation, and client and vendor management.

LPC is excited to have him on board as he helps lead the growth of the company’s new residential team, which is set to expand and strengthen its capabilities in this market niche.

Founded in 2016 by the country’s top real estate adviser, David Leechiu, the firm delivers profitable real estate solutions to its clients and partners.

Since its establishment, its experienced brokers have leased more than 2 million square meters of office space and have sold more than P100 billion of real estate throughout their careers.

LPC’s expertise covers tenant and landlord representations, investment sales, general brokerage, research and consultancy, data analytics and property valuation.

This was complemented by a campaign called “Make It Yours,” which kicked off at Bria’s Worldwide Virtual Property Expo, a two-day, 24hour event that was made accessible on Bria’s official web site. Both campaign and virtual expo generated interest among OFWs and immigrants who wish to retire and resettle in their old hometowns.“Financially literate Overseas Filipino Workers quickly realized that real estate is a secure,

tangible asset that is resistant to the whims of the times,” Tan noted.

“This was not lost on aspiring Filipino homeowners, including upwardly mobile millennials, who now look at property as a worthwhile investment and a hedge against inflation,” Tan added.

Tan said Bria Homes stepped on the gas in terms of product offering in 2022 to deliver better customer experience by rolling out the xE Series of Enhanced House Models,

which granted a whole new level of comfort and security to aspiring homeowners.

“The xE series are actually upgraded editions of Bria’s Elena, Elyana and Bettina house and lot units, which tout exterior enhancements such as their own fences and gates, and a finely finished front pavement. These features lend curb appeal to the properties, boosting their value proposition among real estate investors,” Tan explained.

Further, Bria raised the bar by introducing upgrades in the interior set-up: each Elena, Elyana and Bettina unit has bedroom partitions, ceramic floor tiles in common living areas, tiled walls in the toilet and bath, a dual flush water closet, a telephone shower, and a bidet. Such amenities make for an attractive new product line for discerning homebuyers.

In the same year, Bria launched multiple condo projects bearing the Astra brand, which is now part of the homebuilder’s aggressive expansion plans for 2023 moving forward.

Ong said Bria likewise organized multiple turnover events in 2022. It gave away house and lot units to winners at competitions such as Sing Galing, and awarded a brandnew Bria house and lot worth P1.5 million to the raffle draw winner in the “May Bahay sa Bakuna” program, a clever incentive for Las Piñas City’s residents. It also conducted mass hiring on Labor Day with a Job Fair in all Bria offices across the country. It offered Filipinos an opportunity to pursue a career in real estate and thrive in a competitive and nurturing environment.

The company’s industry-shaking moves resulted in Bria Homes getting recognized twice in 2022.

In June 2022, Bria was officially named Asia’s Most Affordable Housing Developer of the Year by Asia’s Golden Icon Awards 2022.

Finally, Bria Condo was hailed as the Most Trusted Condo Developer of the Year in Asia’s Pinnacle Awards for its initiative in providing the affordable condo lifestyle to more Filipinos in the country.

The NOMA neighborhood: Makati’s hip and happening side

NOTED f or its numerous gated communities, upscale malls, world-class hotels, and bustling central business district, Makati C ity has a long-held reputation as the place to live and work for society’s rich and famous.

But the city is a hip and happening destination too, and the area that b est captures this vibe is the North of Makati—or NOMA to its denizens.

A neighborhood teeming with galleries, live music, and one-off dining options, NOMA is also home to The Rise M akati, a 55-story residential condominium that shares the fun and fresh a tmosphere of its dynamic location.

Situated along Malugay Street in San Antonio Village, this thoroughly modern development spoils its residents to the hilt with amenities that p romise endless hours of leisure and enjoyment: there’s a 28-meter tropical pool, 380-meter private jogging p ath, a well-being zone called The Nest, lounge space known as The Hangout, a business center called The Workshop, and The Kids Zone, where condo-dwelling children have room to run and play in a 280-sqm space.

For variety, residents head outdoors to the vibrant selection of eateries, art spaces, and entertainment t hat NOMA is known for.

Are you a foodie? Along Yakal Street, continental fare can be had at Chesa Bianca Swiss Restaurant, I’m Angus Steakhouse, and Santi’s Delicatessen.

The Pantry on La Fuerza 1 Building along Chino Roces draws the office crowd with its adobo, salpicao, and other Pinoy comfort food. And speaking of Pinoy comfort food, try the bagnet at Bagnet 8065, along St. Paul Road in

San Antonio Village: the Ilocano version of lechon kawali is cooked in several iterations—kare-kare, dinuguan, s picy gata, and curry, to name a few.

If you live in The Rise, you can enjoy a careful selection of dining options right outside your doorstep. Visit Assembly Grounds at The Rise, where the roster of restos can satisfy your every food craving, from Filipino (Kuya’s, Zubuchon) to Asian (Yuki, Yi Fang, Tong Yang Shabu Shabu Express, Recipes), Western (Casa Mia, B uffalo’s Wings n’ Things), and alltime favorites (Starbucks Reserve, Bread Talk). Start your morning with a caffeine fix at Starbucks Reserve or at PICKUP Coffee, then treat your family and friends for dinner at your choice of Pinoy fare at Kuya’s, Asian food at Tong Yang Shabu-Shabu Express, or Western bites at Raging Bull B urgers. End your day with some well-

deserved pampering at the salon like Sanbry Men’s Grooming House and / Nook/ Salon or have a quick spa sesh at Lomi Imua Hawaiian Relaxation Spa or get other beauty services at Nisce Skin Medispa for skin treatments and at Pink Parlour for hair re moval services.

What’s for dessert? For something out of the ordinary, Patiserrie Bebe Rouge on Sacred Heart Street, San Antonio Village, indulges your taste buds with its Japanese-and-Frenchfusion cakes and pastries. Poison Coffee and Doughnuts in Karrivin Plaza, C hino Roces, tempts with its self-described “dangerous” array of hot and c old drinks and rich doughnuts. Order them after a savory lunch of ramen or rice bowls. Mochiko in Malugay Street has a menu of different mochi ice cream flavors. Malugay’s also w here you can score desserts you can

drink from Raspberry Eats and Tai ho Milk Tea and Deli. Red or white? Toast to fine wines at Titania Wine Cellar and Cave Werdenberg Wine Bar, both on Yakal Street. H ow about some entertainment? Catch live bands and solo acts (and have some drinks and bar chow while you’re at it) at famed watering hole SaGuijo Café and Bar on Guijo Street, San Antonio Village, or witness some serious Pinoy rap battles in Fliptop Battle on Malugay Street. If you and the gang are up for a challenge, sign up at Escape Plan Manila at HPGV Building, Sen. Gil Puyat Avenue, or Mystery Manila at Century Mall, along Kalayaan Avenue.

Investing in art? NOMA is the place to be, with its spate of galleries and creative spaces all in La Fuerza Plaza, Chino Roces: there’s Modeka

Creative Space on Warehouse 20, White Walls Gallery on Warehouse 12A, Finale Art File on Warehouse 17, and Leon Gallery on Warehouse 14. If it’s wearable art you’re after, drop by Suez & Zapote. The shop on the corners of Suez and Zapote streets in Barangay Sta. Cruz sells clothing by streetwear brand Team Manila and Daily Grind. It also hosts art exhibitions and live gigs, giving you the f ull-on NOMA experience.

Living in the city doesn’t have to be restricting, especially if you’re living in The Rise Makati that’s situated in the middle of the hip and happening NOMA neighborhood.

Learn more about what makes The Rise Makati your dream home in the city. Visit its web site at therisemakati. com and follow @TheRiseMakatiOfficial o n Facebook and Instagram.

For sure, billionaire Manuel B. Villar is feeling providential these days as Golden MV Holdings subsidiary Bria Homes made a stellar performance in 2022.

The Rise Makati situated at NOMA or North of Makati is a haven for passionate city dwellers and is close to a number of vibrant commercial and dining destinations.

Wi T h Bria homes’ steadfast online presence, property-seeking OFWs were readily enticed into checking out such offerings with just a few clicks.

The dynamic homebuilder rolled out its new product line: the x e Series of enhanced ho use Models, which granted a whole new level of comfort and security to aspiring homeowners.

B R i A homes made homeownership more accessible for the average Filipino.

Strong Group stays unbeaten with big win over Syrian club

THE Strong Group treated overseas Filipino workers (OFWs) in attendance to another dominant show this time by clobbering Al Wahda of Syria, 87-61 in the 32nd Dubai International Basketball Championship Tuesday at the Al Nasr Club Hall in Dubai, the United Arab Emirates.

A s expected, the imports did most of the damage for the Philippine representatives although the local crew also had their fair share of the spotlight in the wire-to-wire win that hiked the team’s record to three victories in as many games.

The win was not only satisfying for the OFWs but also for team owners Frank and Jacob Lao and coach Charles Tiu.

“ We have been improving every game and this was our best defensive performance,” said Tiu, who again showered former Philippine Basketball Association import Shabazz Muhammad with glowing words.

“ Shabazz carried us offensively, he was great so we kept riding him but the defense was solid today and I am happy,” Tiu added.

Muhammad erupted for 37 points and 11 rebounds as he ran wild right off the gates, leading a blistering 22-9 start from Strong Group that is backed by Mighty Sports and Acrocity.

That onslaught set the tone for the rout as the club kept its double-digit advantage throughout and even led by 29 points twice, at 68-39 and 79-50.

R enaldo Balkman finished with nine points and 11 rebounds while Filipino-American guard Sedrick Barefield and Jerom Lastimosa had 10 points each.

The win should also come as a huge momentum builder for the team that will next take on fellow top contender and also still undefeated team in Group A, Dynamo from Lebanon, on Wednesday.

PBA scribes pick Ahanmisi week’s best

CONVERGE is off to a rousing

3-0 start for the early lead in the Philippine Basketball Association (PBA) Governors’ Cup thanks to the impressive showing of import Jamaal Franklin.

But while Franklin made an impression in his league debut, an array of local stalwarts teamed up with him in the FiberXers’ fast start led by ace guard Maverick Ahanmisi.

The 6-foot-2 gunner shone brightest for coach Aldin Ayo in their first three games so far, averaging 22.3 points on 55-percent shooting clip, including a 38-percent accuracy from downtown.

A n eight-year pro, the FilipinoAmerican veteran also posted 6.7 rebounds, 4.0 assists and 1.0 steal a game as Converge took down Northport, Rain or Shine and Magnolia one after the other.

The numbers were enough for Ahanmisi to claim the first Cignal Play-PBA Press Corps Player of the Week citation this conference covering the period January 22 to 29.

A hanmisi, the third overall pick in the 2015 draft, opened his week with a 29-point eruption in Converge’s 122-92 win over Northport, with Kiwi Ethan Rusbatch still serving as the team’s import.

He added six rebounds, nine assists, a steal and a block in the biggest winning margin in the franchise’s young history.

A hanmisi followed it up with a 16-6-9-2 line in the FiberXers’ 130115 victory over Terrafirma featuring Franklin as Converge’s new import.

PSC on same page with POC in Olympic centennial campaign

By Josef Ramos

PHILIPPINE Sports Commission

ruary 1, 2023

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

DJOKO ON TOP

OF THE WORLD

MELBOURNE, Australia—Novak

Djokovic’s Australian Open championship returned him to a rather familiar spot on Monday: No. 1 in the Association of Tennis Professionals (ATP) rankings.

H is four-place rise from No. 5 to replace Carlos Alcaraz at No. 1 is the largest jump to the top spot in the 50-year history of the computerized rankings for men›s tennis.

You never know how much more time you have left, so, of course, I nurture and celebrate these moments of becoming No. 1 again and Grand Slam champion,” the 35-year-old Djokovic said after beating Stefanos Tsitsipas, 6-3, 7-6 (4), 7-6 (5), in the final at Melbourne Park on Sunday night, “even more than I have, maybe ever in my career. I don’t take it for granted.”

A ryna Sabalenka’s first major title moved her up from No. 5 to a career-best-equaling No. 2 in the Women’s Tennis Association (WTA)

O ns Jabeur, twice a finalist at Slams in 2022, went from No. 2 to No. 3, followed by No. 4 Jessica Pegula, No. 5 Caroline Garcia and No. 6 Coco Gauff.

The player Sabalenka beat in Saturday’s Australian Open final, Elena Rybakina, makes her top 10 debut at No. 10, up from No. 25.

Th is marks Djokovic’s 374th week leading the ATP, adding to his record. He earned a 10th title at the Australian Open and tied Rafael Nadal with 22 Grand Slam trophies.

A lcaraz slid to No. 2. He had become the youngest man to be No. 1 when he took over at age 19 after

winning the US Open last September. Alcaraz missed the Australian Open because of a leg injury. adal, who hurt his left hip flexor during a second-round loss to Mackenzie McDonald of the United States, dropped from No. 2 to No. 6. Tsitsipas went from No. 4 to No. 3 because of his run in Melbourne; he would have been No. 1 for the first time if he had managed to win the title. Casper Ruud, a two-time Grand Slam runner-up who lost in the second round to Jenson Brooksby of the United States, went from No. 3 to No. 4. Andrey Rublev is No. 5 after getting to the quarterfinals.

C racking the top 20 for the first time is Tommy Paul, a 25-year-old American who reached his first Grand Slam semifinal before exiting against Djokovic. Paul’s showing in Melbourne lifted him 16 spots from No. 35 to No. 19.

H e is one of 10 US men in the top 50, something that last happened in 1995. AP

Cedo, See rule JPGT Skills Challenge

ANYA CEDO topped the drive and putt contests while Rico See posted two runner-up finishes as they clinched top honors in the premier division of the inaugural Junior Philippine Golf Tour (JPGT) Skills Challenge at The Country Club in Laguna last Sunday.

Cedo, daughter of golf coach Jun Cedo, earned the top-scoring 48 and 60 points in Drive and Putt, respectively, and gained 31 points in the Chip side to reign in the girls’ 15-17 age bracket of the one-day, four age category competition under the points system put up by International Container Terminal Services Inc. and organized by Pilipinas Golf Tournaments Inc. (PGTI).

TNT vs NLEX in clash of unbeaten teams

TNT Tropang Giga takes on NLEX in a clash of unbeaten teams on Wednesday with both teams hoping to gain a share of the early lead in the Philippine Basketball Association Governors’ Cup at the PhilSports Arena in Pasig City.

T NT and NLEX take the floor at 5:45 p.m. with the winner

2 champs of different shades

WE now have two Australian Open winners with contrasting characters, distinct playing styles and politicslaced nationalities.

Men’s champion Novak Djokovic thrives on long rallies

joining Converge which is in an unconventional 3-0 start thanks primarily to its prolific import Jamaal Franklin.

It will also be a clash of batchmates between sister teams at the bench in the 48-year-old league—Jojo Lastimosa for the Tropand Giga and Frankie Lim for

that he wins mostly through his blistering forehand.  And women’s titlist Aryna Sabalenka makes bomb-diving blasts her bread and butter, rendering lengthy stroke-trading as rare as taxis during rush-hour.

W hile Djokovic deeply relies on consistency, constancy, Sabalenka leans heavily on her beastly power, both on her service and groundstrokes, to demolish her opponents.

D jokovic is the defiant Serbian whose anti-vax stance last year saw him getting deported from Melbourne on the eve of the Australian Open, thereby preventing him from defending his title a record 10th time.

A nd Sabalenka is the big-serving but double-fault prone Belarussian, who was allowed to play in the Australian Open without her country’s flag and with her nationality unacknowledged in any manner at all.

It is a politically-motivated compromise since Australia does not support the invasion last year of Ukraine by the combined military forces of Russia and Belarus.

M en’s singles players Daniil Medvedev and Karen

(PSC) chairman Richard Bachmann on Tuesday vowed support for a more successful campaign in Paris next year as the country celebrated a hundred years of Olympics participation.

“That’s for the POC [Philippine Olympic Committee] and the PSC to work on together,” Bachmann told the Philippine Sportswriters Association Forum at the PSC Building’s conference room at the Rizal Memorial Sports Complex.

To do that, Bachmann reiterated his ultimate goal as chairman of the government sports arm.

We are prioritizing the needs of our national athletes in our first few days at the office,” Bachmann said.

““I’ll wait for the POC to collaborate with the PSC. It’s still a long way to go and we still have a lot of things to do.”

POC president Rep. Abraham “Bambol” Tolentino is still in France making solid arrangements for a preParis Olympics training venue, a firstof-its-kind endeavor in Philippine sports history.

Filipino athletes who qualify for Paris will be in the French capital two months before the July 26 to August 11 Games to cap their training and acclimatize with the European summer.

Bachmann hinted at taking it one step at a time in terms of caring for the athletes by prioritizing at this time preparations for the May 5 to 17 32nd Southeast Asian Games in Cambodia.

The PSC and the POC, he stressed, are on the same page on athletes’ care and their success in major international competitions.

“ President Tolentino and the PSC are both hands-on on the athletes and sports, that’s perfect with me … working together with the POC,” he said.

B achmann also laid out a fourpoint plan during his administration

at the PSC—a better system for timely release of athletes’ allowances, improvement of facilities, provision of meals for athletes and taking care of the PSC “back-of-house.”

“

To serve the athletes well, I need to know them. So I go around and meet these athletes,” he said. “I don’t want to be that chairman who’s stuck in the office.”

He also inspected PSC-managed facilities and paid special attention to equipment regularly used by the national team.

A side from the athletes, Bachmann also said that it’s important to take care of the PSC “back-of-house,” in reference to the agency’s employees.

They’re equally important because I won’t be able to serve without their help,” he said.

He also assured that the PSC board will continue to enhance the training conditions of all national teams with the help of the agency’s partners which include the Philippine Amusement and Gaming Corp., Philippine Charity Sweepstakes Office, Pocari Sweat Otsuka Solar Philippines and Pioneer Insurance.

Heavy sked up for obstacle sports body topped by two global meets

once more.

Obstacle sports was scrapped from the Hanoi SEA Games last year and the Filipinos are itching to stay on top of the podium after sweeping all six gold medals contested in the 2019 edition in Manila.

Cedo pooled 139 points to edge Reese Ng, who assembled 133 points built around 55 points in putting (second place) and 43 points in driving (third place), while Anna Fernandez placed third overall with 112 points, including 37 points in a third-place effort in putting.

S ee, on the other hand, snared the boys’ 15-17 trophy with 124 points, including 60 and 40 points in putt and chip, respectively, nipping Alonso Espartero, who made 122 points, including a topscoring 60 points in putting. John Bernis finished third overall with 119 points, including a winning 44-point output in driving and 50 in ending up third in putting.

the Road Warriors.

L astimosa said he can’t take Lim and company lightly.

“ NLEX is really playing well with a good-sized and good import, but we’re ready,” Lastimosa said. “We cannot start slow though.”

L astimosa is subbing for Chot Reyes, who’s currently serving as TNT’s senior consultant while performing his task as national team coach. Josef Ramos

THE Pilipinas Obstacle Sports Federation (POSF) faces a hectic schedule this year with two major international competitions basically just around the corner.

POSF president Atty. Al Agra told Tuesday’s Philippine Sportswriters Association (PSA) Forum that first up is the Ninja World Cup Asia, the first of a three-leg series to be participated in by the region’s best obstacle course racers.

It is scheduled March 31 to April 2 at the ArcoVia City in Pasig City, Agra told the weekly forum held at the ground floor of the Rizal Memorial Sports Complex administration building.

This will be followed by events in the United States and Poland. We’re lucky to host the first,” Agra told the forum presented by San Miguel Corp., Milo, Philippine Sports Commission, Philippine Olympic Committee and the Philippine Amusement and Gaming Corp.

The POSF is expected to field entries in all three legs.

A gra, who recently earned a fresh mandate as POSF president, is also looking forward to the 32nd Southeast Asian Games in Cambodia from May 5 to 17, where Filipino athletes are tipped to shine

Khachanov from Russia received the same treatment as Sabalenka.

So, who said sports is politics-free?

E lena Rybakina was born in Russia but she recently embraced Kazakhstan citizenship before proceeding to win Wimbledon in July 2022 at 22 and becoming the youngest to do it since 2011.

But Rybakina was denied a second Slam when she succumbed to Sabalenka’s brutal power in an epic threesetter, 4-6, 6-3, 6-4, in their Saturday final.

To win her first major, Sabalenka, 24, buried her horrific past of committing 428 double faults in 2022, 151 more than any other player on the women’s Tour—including 96 double faults in six matches that, in frustration, saw her serving underarm at one point.

S he dumped her psychologist and, thankfully, if not miraculously, it paid off.  She had 29 double faults in seven matches in an impressive improvement in Melbourne, pocketing 11 straight matches en route to her maiden Slam win.

A gra said from six, the events were trimmed down to four in Phnom Penh—men’s and women’s individual and men’s and women’s relay featuring a flat 100-meter course with 12 obstacles.

A gra said after three qualifying events, the POSF has identified the 12 athletes to represent the country in the SEA Games.

The POSF donated the entire course to their Cambodian counterparts and has even invited the teams from Cambodia, Malaysia, Indonesia, Laos and Brunei to come over and train in the Philippines.

“ We want all the countries in the SEA Games to be competitive,” said Agra, adding that part of the POSF mission is to make the sport permanent in the SEA Games program.

We also want to be part of the Asian Games, then the Olympics,” said Agra, who also mentioned the staging of the OCR World Championships in Belgium in September.

We will be sending our biggest contingent ever to the world championships,” he said.

The POSF president also proposed to the POC and PSC the holding of the Philippine Masters and Seniors Games.

“ If you have the Batang Pinoy, perhaps you can also have the Tandang Pinoy,” he said.

“ I am still a Belarussian, no matter what happens,” she said, sobbing for maybe 20 seconds before receiving the Daphne Akhurst Memorial Cup.

The Rod Laver arena was virtually flooded with tears as Djokovic also cried after dismissing Greece’s Stefanos Tsitsipas, 6-3, 7-6(7-4), 7-6(7-5), intensely embracing his Mom at the box as the win gave him 22 Slams to tie Spain’s Rafael Nadal for the all-time record in majors won.

The 35-year-old Serbian will go for the solo record 23rd major in the French Open from May 28 to June 11, his chances of winning looking good as Nadal is having health issues that caused his early exit in the Aussie Open. Well, let’s see.

THAT’S IT LeBron James’ Miami jersey in the 2013 National Basketball Association Game 7 Finals fetched $3.7 million last week in Sotheby’s auction in New York.  Michael Jordan’s 1998 NBA Finals jersey sold for $10.1 million in 2022, becoming the most valuable basketball uniform ever.

PHILIPPINE Sports Commission chairman Richard Bachmann makes his first appearance in the Philippine Sportswriters Association Forum on Tuesday.

MAVERICK AHANMISI of Converge is confronted by his brother, Jerrick, of Magnolia. RUDY ESPERAS

AGRA

NOVAK DJOKOVIC’S back as the world’s No. 1 as Aryna Sabalenka’s first major title moves her up from No. 5 to a career-best-equaling No. 2 ranking. AP