BusinessMirror February 21, 2022 by BusinessMirror

LGUs spent ₧119B for Covid response ‘Close borders, cut Omicron exposure risk’ By Bernadette D. Nicolas By Cai U. Ordinario

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@BNicolasBM @caiordinario

OC A L gover nment borders u n its LOSING the country’s (LGUs) a combined is one ofspent the most immediate P118.9 fortheCovid-19 coursesbillion of action governresponse in a span of more the than a ment must take to prevent latyear since April 2020. est Covid-19 variant, Omicron, from Ba sedPhilippine on pre l i shores, m i n a r yaccordd at a reaching gathered by the Bureau of Loing to local economists. calTGovernment Finance (BLGF) he new var iant is a threat, from thes e s p e cApril i a l l y2020 w it to h June t he 2021, hol id ay bulk of the response war coming upCovid-19 and more foreigners chest came their beingofaLGUs llowed to from travel to own the funds, amounting to P76.44 bilPhilippines, De La Sa lle Univerlion; while another sit y economist MarP35.44 ia Ellabillion Oplas spent by LGUs as of end-June last told BusinessMirror. year was sourced from the P37.02The holidays usually bring in billion Bayanihan Grant extended Overseas Filipino Workers (OFWs) to by thetonational governwhothem are eager spend Christmas

ment to fund their pandemic rewith their loved ones, while forsponse measures. eigners living in temperate regions On top of these, LGUs utiusually want to relax in also tropical lized P4.93like billion out of the P5.44 countries the Philippines. This billion of their unexpended cash year’s influx of OFWs is expected to balances of public funds held in be heavier since many of them were trust werehome transferred to the unablethat to come for the holidays General Fund of LGUs to support in December 2020. their response “Mypandemic recommendation is toefforts. protect Another P2.14 billion spent by LGUs the borders. Do not allow people with came from grantstoand donations, a history of travel countries with the BLGFcases said.to enter,” Oplas said. positive Ofshould the P76.44 in funds “We be morebillion restrictive. [We spent by LGUs from their own have to be] more protective in terms funds, P59.03 billion was used for of our measures.” LGU-funded programs while Oplas said that while this willthe be remaining P17.41 billion went to a setback to some industries, this their respective sector-specific is a fair measure considering that fthis inancia assistance prog rams couldl help prevent placing the for students, drivers, senior country in another strictand lockdown,

citizens, others. which, sheamong said, the economy can no Taking 87 percent or P51.73 billonger afford. lion“Itofisthe P59.03 billion spent for better that we do protective LGU-funded programsthan was get mainpreventive measures extenance and We operating posed again. have a lotexpenses to lose,” (MOOE) for“We Covid-19 Oplas said. shouldresponse. do it now so Among the LGUs with MOOE that we can open just before Christsmas. p e nt v id -19 we recan s p on se If itfor gets Co contained, open sourced from their own funds, the it again.” National (NCR), ReAteneoCapital CenterRegion for Economic Region IV-A (Cavite, Laguna, Batansearch and Development (ACERD) gas, Rizal and QuezonSer or CalabarAssociate Director Percival zon) and Region III (Central Luzon) K. Peña-Reyes said closing the had the highest disbursements at country’s borders would be effecP16.1 billion, P6.33 billion, and tive but should still adhere to the P5.18 billion, standards set respectively. by the World Health “There were 587 LGUs that proOrganization (WHO). vided their own to their What is needed,projects Peña-Reyes told constituents, with 482 or 82 this newspaper, is for travelpercent restricof which areput municipalities, 68 and (12 tions to be in place swiftly

percent) are cities,toand (6 percent) for government be37 proactive in are provinces,” said BLGF Executive imposing them. Director Niño Raymond his Previous instancesAlvina wheninthe report tohad Finance Secretary Carlos G. country the opportunity to imDominguez III. pose travel restrictions did not preMeanwhile, P30.83 billion orwas 87 vent the spread of Covid-19. That percent of the P35.44 billion spent mainly because the decision was not from the Bayanihan Grant was made immediately, he said. used for MOOE, mainly food as“Kung papatay patayon[If we’re sistance and other relief goods for slow] and we get caught flat-foothouseholds, while the 13 ed, [that’s risky] We remaining were too repercent or P4.61ofbillion was used for active instead proactive before. capital outlays. We should learn from that,” PeñaAlvina said were balancing reminded Reyes said. “It’sLGUs a delicate last year that the Bayanihan Grant act. We need to push testing and was valid for disbursement only until tracing to be properly informed December 31, 2021, and unutilized of our decisions. Blanket/shotgun portions shall revert to National approaches could havethe dire conseTreasury. quences on the economy.” See“Omicron,” “LGUs,” A2 A2 See

NATL BORROWINGS DEBTGOVT PAYMENTS YIELD FOR MOS DIPOF TO$102M P2.75T JAN 10 B.O.P. GAP T T w w

Monday, February29, 21,2021 2022Vol.Vol.1717No.52 No. 136 Monday, November

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P25.00 P25.00 nationwide nationwide || 22 sections sections 18 20 pages pages ||

By Bernadette D. Nicolas By Bianca Cuaresma @BNicolasBM

Omicron risk ILO: Covid spurs revival shines light of quarantine on informal rules in PHL labor’s saga

@BcuaresmaBM

HE national HE country’s government’s transactions gross with as theofrest borrowings of the world started end-October shrank by almost percent the year in6the red, year-on-year to as the Philippines’s P2.75 trillion. Balance of

By Samuel P. Medenilla @sam_medenilla

By Samuel P. Medenilla

Payments (BOP) Latest data from the Bureau of the posted a deficit in Treasury showed that the government’s gross borrowings January 2022. during the

10-month period fell by 5.99 percent from P2.92 trillion a year ago. With only two months left for Sentral PilithisThe year,Bangko the latest figure isng already pinas (BSP) reported that equivalent to 89.6 percent ofthe its country’s BOPborrowing posted a deficit of P3.07-trillion program. $102 million thedomestic first month Broken down, in gross borof the year. rowings from January to October The BOP is usually considered settled at P2.23 trillion, down by as an important economic indica5.08 percent from P2.35 trillion tor in an economy as it shows the in 2020. level of earnings or expenses of The bulk of the amount was the country with its transactions sourced from Fixed Rate Treasury with world. A deficit means Bondsthe (P1.19 trillion), followed by that the country had more short-term borrowings fromdollar Bangexpenditures than its or dollar earnko Sentral ng Pilipinas BSP (P540 ings during the period. billion), Retail Treasury Bonds/PreThe January deficit is a reversal myo Bonds (P463.3 billion), Retail of the previous month’s surplusbilof Onshore Dollar Bonds (P80.84 $991 million. Compared to Janulion). In the same period, there was ary however, 2022’s deficit also2021, a net redemption of Treasury is smaller than the $752-million Bills amounting to P43.94 billion. deficit Net that debtyear. redemption means Thewere BSPmore said the outflows aristhere debts repaid coming mainly from the National Govpared to the amount borrowed durernment’s (NG) payments of its ing the period. foreign currency debtforeign obligations Meanwhile, gross boraccounted for much of the deficit. rowings in the same period also contracted by 9.7 percent to P518.7 Remittance outlook billion from last year’s P574.4 billion. RIZAL ThisCommercial was raised Banking throughCorpoglobal ration Michael bonds (RCBC) (P146.17economist billion), program Ricafort said the country’s BOP loans (P139.98 billion), euro-dedata could still improve in the comnominated bonds (P121.97 billion), ing months, in(P86.41 view of the expected a project loan billion), and increase in remittances. yen-denominated samurai bonds See “Debt,” A2 (P24.19 billion).

PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. The country will celebrate the 158th birth anniversary of Filipino revolutionary hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGO CAMPAIGN PERILS Political parties have been asking the Commission on Elections to relax restrictions on campaigning such as taking selfies, but some candidates themselves were recently reported to have suffered unintended injuries from enthusiastic crowds swarming their caravans, such as this one by Bongbong Marcos’s UniTeam in Tondo, Manila on Sunday (February 20). The UniTeam camp had to explain why Marcos Jr., in a viral video of a sortie in Caloocan, abruptly moved his hand away from well-wishers. Wounds on his hand, from scratches and brushes with people’s jewelry, had become infected, his camp explained. In the latest Tondo caravan, he is seen wearing arm warmers. Other candidates who have been seen being swarmed by crowds are Manila Mayor Isko Moreno, Vice President Leni Robredo and Senators Manny Pacquiao and Ping Lacson. PHOTO BY ROY DOMINGO

OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND By Jasper Emmanuel Y. Arcalas

dating its registry following the enactment of the Coconut Farmers and Industry Trust Fund law. Rosales explained that about 500,000 coconut farmers and date, the UN saidPCA’s that workers werecommittee added to the the global trade value last year 2018 list that had about 2.5 million amounted to $28.5 trillion—showcoconut farmers and farm workers. ing growth of 25 percent The PCA’s next stepfrom is to2020 conand 13 percent from 2019—due duct an exclusion-inclusion proto a confluence of events cedure by making the brought updated about by the pandemic. farmers’ registry public, providnoted that the “positive ingIteveryone the opportunity to trend for international in check the veracity of thetrade list, Ro2021 largely the result of insales was added. creases in commodity prices, sub“The list will be posted in public spaces where people can easily see

them. This allows everyone to see who are listed in the registry and if farmer doesn’t see his name then he shall coordinate with the PCA immediately,” he explained at a recent siding pandemic restrictions and dialogue with coconut farmers. a strong recovery in demand due “On the other hand, if people to economic stimulus packages.” would see names on the list and Thethink report added, “Ascoconut these they they are not trends are likely to abate, internafarmers or their details are incortional trade trends expected rect, they can reportare it to the PCA to during 2022.” fornormalize immediate action,” he added. Unctad, fact, sees trade The PCAinofficial noted that growth losing its momentum in the completion of the initial list the first quarter of 2022. of coconut farmers registry would Unctad pointed out beThis just year, in time for the expected rollout of coconut levy-funded

programs as President Duterte is expected to sign the industry development plan in early 2022. Rosales said the PCA will not stop updating its list of coconut that globaland supply chains willto confarmers enjoined them regtinue reeling from the shipping ister in order to reap the benefits bottlenecks and lack of certain inof the decades-long idled coconut put for production, among others. levy fund. “We will not stop at 3.1 “Logistic a semimillion. Wedisruptions, hope that more indiconductor rising viduals willshortage register inand our coconut energy prices have he further farmers registry,” said. contributed to supply shortages and The updating of the coconut spiraling shipping costs,” the UNby farmers registry is mandated agency said. Republic Act (RA) 11524 or the

GLOBAL TRADING TO ‘NORMALIZE’ IN ‘22–UNCTAD @jearcalas

M T

ORE than 3 million coconut farmers and By Tyrone Jasper Piadregisworkers areC.now @Tyronepiad tered with the government’s registry, which serves as the basis HEnumber volumeofand value for the people to of be trading across the world covered by the utilization of the are expected go back P75-billion coconuttolevy fund.to normal in 2022 after Authority reaching Philippine Coconut record level last year, the United (PCA) Deputy Administrator Roel Nations Conference Trade and M. Rosales said abouton 3.11 million Development (Unctad) said. coconut farmers and farm workits been latestregistered Global Trade ersIn have withUpthe government since it started up-

See “Borrowings,” A2

PESO EXCHANGE RATES n US 51.2880 PESO EXCHANGE RATES n US 50.4600

See “Global trading,” A2 Act. Coconut Industry Trust Fund See “3-M farmers,” A2

@sam_medenilla NTER NATIONA L concerns over the possible spread of the HE Covid-19 more infectiouspandemic OmicronproCovided a brief window for govvid-19 variant prompted the governments to push for reforms ernment to reimpose mandatory to improve the working conditions facility-based quarantine for all of informal sector workers, the Inarriving passengers in the country. ternational Labour Organization Acting Presidential spokesper(ILO) said. son Karlo B. Nograles announced ILO’s Future of Work Podcast onInSunday that the Inter-Agency posted in its website, ILO Social Task Force for the Management Protection Department Director of Emerging Infectious Diseases Shahra said the many workers (IATF) Razavi suspended implemenbecame of the importance tation ofaware its Resolution No. 150of protection benefits as the A social (s.2021), effectively imposing pandemic left many of them disstricter protocols for all inbound placed in the last two years. travelers. “This crisis showed everyone To note, IATF Resolution 150could see very clearly, very conA had allowed fully vaccinated cretely why they need social non-visa travelers from GreenproList tection. you’re young,withand areas toEven enterif the country you’re dynamic think you out the need and for you facility-based don’t need anything, can quarantine as long asand theyyou secure manage, it just goes to show we’re negative Reverse Transcriptionall vulnerable, so that’s one really Polymerase Chain Reaction (RTimportant point,” Razavi said.prior PCR) test within 72 hours now really the time to use to “This theirisdeparture. that“Except increased to make for awareness countries classified sure that everyone is registered and as ‘Red,’ the testing and quarantine to make sure are internacontribprotocols forthat allpeople inbound uting the sameintime,” she of added. tionalattravelers all ports entry Currently, she said 50 percent of shall comply with the testing and the world’s population still don’t have quarantine protocols for ‘Yellow’ social protectionNograles like pension orciting famlist countries,” said, ily benefits, leaving them vulnerable the provision of IATF Resolution to the effects of the pandemic. No. 151-A. Many of the saidKong, “unprotected” He noted Hong which has workers belong confirmed a casetoofthe the informal Omicron sector of will the economy, who usually variant, also fall under the Yelhave unsafe and unhealthy worklow list countries. ing The conditions as well as have suspension of the ruleslow for or irregular incomes despite “Green List” countries willhaving be in long working hours. 28, 2021 to effect from November See 2021. “ILO,” A2 December 15,

Continued on A2

n JAPAN 0.4463 n UK 69.8645 n HK 6.5763 n CHINA 8.0921 n SINGAPORE 38.1863 n AUSTRALIA 36.8402 n EU 58.2734 n SAUDI ARABIA 13.6684 Source: BSP (February 18, 2021) n JAPAN 0.4374 n UK 67.2329 n HK 6.4722 n CHINA 7.9013 n SINGAPORE 36.8968 n AUSTRALIA 36.2807 n EU 56.5758 n SAUDI ARABIA 13.4531 Source: BSP (November 26, 2021)

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A2 Monday, February 21, 2022

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Economy, jobs top voters’ concerns in PUBLiCUS poll

HE economy and jobs are the top two pressing issues voters want candidates for the 2022 National and Local Elections (NLE) to address in their campaigns, according to a recent prepoll survey of PUBLiCUS Asia Inc.

In a statement issued last Sunday, PUBLiCUS Asia Inc. Executive Director Aureli Sinsuat attributed

the trend to the economic slowdown caused by Covid-19 since its onset two years ago.

“The data suggest that voters are interested in learning more about the economic platforms of candidates vying for national positions,” Sinsuat said. Based on its PAHAYAG: National Election Tracker Survey, PUBLiCUS Asia Inc. noted that 65 percent of its 1,500 registered Filipino voter respondents answered “economy” when asked about the top issues they want candidates to talk about. Other topics listed by the respondents were jobs (56 percent), education (34 percent), poverty (24.4 percent) and corruption (23.8 percent). Sinsuat urged candidates to bare their economic platform during their sorties to address the voters’ concerns. “As the Covid-19 situation continues to improve in the Philip-

pines, voters want to know how aspiring national leaders plan to get the economy back on track in the post-pandemic era,” Sinsuat said. “Candidates for higher office should be ready and willing to answer tough questions over the next couple of months about their proposed economic policies,” he added. PUBLiCUS said its PAHAYAG: National Election Tracker Survey is non-commissioned and made use of a survey panel. It noted the members of the panel were selected from the “online research panel marketplace of 200,000 Filipinos maintained by the Singapore office of US-based PURESPECTRUM, based on parameters set by official Commission on Elections statistics on registered voters.” Samuel P. Medenilla

Lacson-Sotto press protection for IPs in mining sites

ENATORS pushed for additional protection for indigenous peoples (IPs) affected by mining operations, affirming the need for more “responsible and sustainable mining operations.” In a weekend North Luzon sortie, Partido Reporma standard bearer Senator Panfilo Lacson, joined by running mate Senate President Vicente Sotto III, said they are batting for a special program and funding to be created and set aside for indigenous peoples

(IPs) “who suffer the brunt of irresponsible mining.” In Baguio City to receive the Lifetime Achievement Award from the Philippine Military Academy Alumni Association, Lacson recalled that Baguio grew from a mining settlement in the mineral-rich Cordillera mountains. Lacson also underscored his support for responsible and sustainable mining, as this could very well “help boost the country economically as it continues to recover from

the Covid-19 pandemic.” He said irresponsible mining was another offshoot of the corruption that he aims to eradicate from government. In the same dialogue and press conference with members of Rotary Club International District 3790 Cluster 1C, the two were asked about their stand on mining, which Baguio and Benguet province are known for, and their take on the seemingly slow development of the industry. Lacson noted reports that indigenous peoples such as the native

tribes of the Cordilleras were suffering from irresponsible mining, as “corruption gave illegal miners an escape at the cost of residents near areas replete with gold, silver, copper, and other precious-metal deposits.” He stressed, however, that the problem is irresponsible mining. “Again, we go back (to the root). Why? Corruption again, right? The program for IPs, because they are the ones there (near mine areas), they are the ones who suffer when irresponsible mining firms leave their (operations), leave the environment (in ruin), the IPs are those who suffer in the long term.” Butch Fernandez

Debt…

Continued from A1

Recovery in mobility and lower Covid-19 cases could also improve economic recovery prospects and thereby help attract more foreign investment inflows and improve the BOP, the economist said. The BOP, Ricafort said, could also temporarily be positively affected by the inflows of foreign aid from the international community, particularly for areas hit by Typhoon Odette. The country’s BOP ended 2021 with a surplus of $1.345 billion. This is short of the government’s $1.6-billion BOP surplus assumption for the year.

ILO...

Continued from A1

Razavi said governments provided social protection to their citizens in the last two years since the onset of the Covid-19 crisis, but she lamented that many of thesemeasures were temporary. “I think governments have r ight ly mobilized dur ing the pandemic to put in place some measures, but many of these measures were temporary and they’re

already running out because they were there for a few months and now they’re no longer there,” Razavi said. ILO and the United Nations are now trying to bring these workers to the formal sector through its global accelerator program to help create 400 million jobs worldwide and extend social protection to over 4 billion people.

Global trading...

Continued from A1

With this, Unctad said big firms have magnified efforts in “improving reliability and managing risks for their supply networks, but delays have persisted nevertheless.” Another factor affecting global trade this year are the regionalization trends, it said, citing the Regional Comprehensive Economic Partnership (RCEP), which entered into force just last month. RCEP is a free trade agreement among Asean countries and their trading partners including Australia, China, Japan, New Zealand and South Korea. This represents 30 percent of the global gross domestic product (GDP) or $26.2 trillion. “This trade agreement facilitates trade among many of the East Asian and Pacific economies, and is expected to significantly increase trade between members, including by diverting trade from non-member countries,” Unctad explained. While the Philippines is a signatory to RCEP, it has yet to par-

DENR...

ticipate as the country still awaits the Senate ratification of the trade deal.

Demand for the sustainable

IN terms of products, Unctad projects more demand for those which are environmentally sustainable. This could even be supported by government policies regulating the trade of high-carbon products, it said. “Moreover, global trade patterns could also be influenced by increased demand of strategic commodities required to support greener energy alternatives,” Unctad said, citing cobalt, lithium and rare earth metals. According to the Philippine Statistics Authority, the country’s total trade grew by 24.1 percent to $192.42 billion last year from $155.03 billion in 2020. Broken down, exports rose by 14.5 percent to $74.64 billion and imports increased by 31.1 percent to $117.78 billion for the period.

Continued from A10

“We are praying he recovers from his health situation,” Greenpeace Philippines Country Director Lea Guerrero said in a statement. Greenpeace Philippines expressed hope that the new DENR OIC will deliver on the agency’s mandates, especially in the areas of climate action, solid waste management, and ensuring safe air quality, among others.” “We also hope that in the next administration, the new president will appoint a DENR chief who is fit and committed to implementing policies that prioritize the well-being of communities over business interests, particularly in the face of the climate and environmental emergency. This is especially needed, with communities in Visayas and Mindanao still dealing with the aftermath of Typhoon Odette.

“ The next six years is a critical period where climate action must be the countr y’s central policy agenda. The climate crisis, compounded by pollution a nd biod iversit y c r ises, w i l l impact food security, water supply, livelihoods, and people’s health—and will undo economic gains and efforts on poverty reduction. The next administration must ensure the DENR will stay true to its mandate to protect the environment and the well-being of all Filipinos,” Guerrero said. A nti-mining advocates under Alyansa Tigil Mina were also surprised by Cimatu’s resignation. Jaybee Garganera, national coordinator of ATM, appealed to Sampulna “to listen to mining-affected communities and open the lines for discussion on resolving mining issues and concerns.” Jonathan L. Mayuga

LGUs...

Continued from A1

Under Republic Act 11494 or the Bayanihan to Recover as One Act (Bayanihan 2), the unexpended cash balances of public funds held in trust by the local governments were allowed to be transferred to the General Fund of the LGUs to support local government programs and projects in response to the Covid-19 pandemic, while RA 11520 extended the validity of the 2020 General Appropriations Act (GAA) up to December 31, 2021. Cornering the highest transfers of Trust Funds to the General Fund are cities with P3.26 billion or 60 percent of the total. The BLGF’s report was in line with Dominguez’s earlier directive to the Bureau to monitor the pandemic-related finances of LGUs. The BLGF gathered the data through an online reporting system developed by the agency for local treasurers to track the receipts and expenditures of all provinces, cities, and municipalities related to their Covid-19 programs, projects, and activities. “This reporting system was used to establish and assess baseline local finance data to serve as inputs in managing the Covid-19 response of the Government,” Alvina said.

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Solon wants economic planning lodged in LGUs By Jovee Marie N. Dela Cruz @joveemarie

ORMER House Speaker Alan Peter S. Cayetano has called for “economic federalism” where the regional planning and development would be placed in the hands of local government units (LGUs). Cayetano said through a statement it would be beneficial for the country if local governments were able to plan projects and bid them out as part of their administrative and financial responsibilities. “Wouldn’t it be better if every region, at the regional and provincial level, did the planning for themselves?” he said. He said despite having an additional P500 billion to the national budget for the planning and bidding of programs, these funds are not being integrated into programs that can benefit vital aspects of daily life such as roads, education, agriculture and healthcare. “After all, they already have their

DAR to turn over ₧32-M bridge to N. Vizcaya LGU

respective Regional Development Councils with the governors, congressmen, and mayors, and that’s where they can do the bidding,” Cayetano added. According to the lawmaker, the benefits of decentralizing spending responsibilities to a regional level are that plans can be better followed, progress will be monitored by local media and in case there are problems, there is better contact and communication. Cayetano cited the 2019 Southeast Asian Games as an example, during which many developments were seen in Clark, Pampanga, saying “not only was the international airport improved but the central business district bloomed.” This raised the number of jobs in the area and encouraged local work rather than moving all the way to the city, he said. “I think together with having more funds outside Metro Manila, giving the regions the power to plan, implement and bid out the projects will be beneficial,” Cayetano added. By Jonathan L. Mayuga @jonlmayuga

HE Department of Agrarian Reform (DAR) announced last Sunday the completion of a P32million bridge project in the town of Solano, Nueva Vizcaya, province. The official turnover of the bridge to the local government of Solano will

Editor: Vittorio V. Vitug • Monday, February 21, 2022 A3

Tariff Commission begins probe on safeguard measures vs HDPE By Tyrone Jasper C. Piad @TyronePiad

HE Tariff Commission (TC) is set to conduct a public hearing this week as part of a formal investigation on the imposition of safeguard measures against the importation of raw materials in the manufacturing of plastic products. The commission released its notice of formal investigation in September last year, announcing that the preliminary conference will then be held in December 2021. According to the Commission, the originally scheduled public hearing was postponed to provide more time for interested parties to submit required information and to also allow the TC to complete its data verification. With the TC announcing the new schedule, the public hearing will be an avenue to discuss the timelines, nature of investigation, appearance of counsel immediately follow after the final inspection to be conducted by the DPWH. Implemented under the “Tulay ng Pangulo para sa Kaunlarang PangAgraryo” (presidential bridge for agrarian development), or TPKP, the project is intended to provide farmers with easier access to transport their products to the market. Construction of the steel bridge began

and parties, number of witnesses, notification, accessibility of documents and public and confidentiality of documents, according to the regulator. In addition, the conference will tackle the submission of position papers and memoranda, conduct of inspection and verification of data, schedules of public hearings and other activities and other related concerns. The probe came after JG Summit Petrochemical Corp. (JGSPC) filed an application to slap imported highdensity polyethylene (HDPE) pellets and granules. With safeguard measures, claiming these pose a “serious injury” to the domestic sector. HDPE is a type of polyethylene resin that is used in the manufacture of the following: grocery bags; pallets and crates for cold-storage applications; beverage caps for bottled liquid; bottles for personal care products and household and industrial chemicals; and, pipes for build-

in October last year. DAR Provincial Agrarian Reform Program Officer II Rustico R. Turingan was quoted in a statement as saying that the project is funded by the DAR in partnership with the Department of Public Works and Highways (DPWH) and the local government of Solano. The steel bridge has a 22.4-lineal

ing and construction, among others. The Department of Trade and Industry (DTI) noted receipt of the documents filed by the JGSPC on March 9, 2020. The trade department acquired additional data, including product description, raw materials used and export information. The period of investigation (POI) covers 2015 to 2019. “The domestic petrochemical industry’s overall performance during the POI is also evaluated to establish whether the increased imports are the substantial cause of the serious injury to the domestic industry,” a report by the DTI read. The data used for the investigation came from the Bureau of Customs (BOC), single administrative document-import entry and internal revenue documents. According to a report by the DTI, HDPE imports grew by 274 percent for the 5-year period, noting two “sig-

nificant surges” in 2016 and 2019. Imported HDPE in January-April 2020 already reached 36 percent of the 2019 level. Most of the imported HDPE came from Thailand, Malaysia, Singapore and Saudi Arabia throughout 2015 to 2019. “The conditions of competition showed that the market share of the domestic product decreased during the POI from 78 percent in 2015 to 53 percent in 2019, as the share of imports in the domestic market significantly increased,” the report noted. While the industry saw its gross profits surge by 32 percent in 2016, the figure continued to decline after that. It even registered a 142-percent drop in 2019, resulting in a negative gross profit. The domestic industry said that the “low prices of imported HDPE have affected the gross profit on the domestic sales of locally produced HDPE,” according to the DTI.

meter and 7-meter wide span and has a capacity of 20 tons that can accommodate all types of vehicles, according to Turingan. The bridge is expected to benefit more than 4,500 residents including agrarian reform beneficiaries (ARBs) in Uddiawan agrarian reform community (ARC) and neighboring barangays, according to the

DAR statement. “The bridge is intended to ease the transportation of the farmers’ products from their farms to the market so that they would be able to sell them at a fair price and increase their income,” Turingan said. The project is being monitored by the DAR under its Foreign Assisted and Special Projects office.

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‘Bato’ suspects role of rogue ex-cops in missing ‘sabungeros’ S

Drilon cautions Comelec on SC ruling on campaign-poster limit

By Butch Fernandez

@butchfBM

HE Senate Public Order and Dangerous Drugs Committee has set for February 24 (Thursday) its hearing into the missing sabungeros, even as its chairman, Sen. Ronald M. dela Rosa, conceded the possibility that some rogue ex-uniformed personnel are involved in the abductions of dozens of cockfight workers and bettors, noting their “tactical movements and operations.” Dela Rosa, a former Philippine National Police (PNP) chief, expressed alarm at the precision and swiftness with which unidentified abductors had seized at least 29 sabongeros from their homes or on the streets, using modus operandi that had the hallmarks of military or police operations. On Sunday, the senator announced in a radio interview the

lineup of resource persons that his panel plans to summon for the upcoming Thursday hearing, which he said will involve also the participation of Senators Grace Poe and Lito Lapid, the heads of the Senate committees on franchises and public services; as well as of games and amusement, respectively. Among those to be summoned to testify at the February 24 hearing are officials of the: Philippine Amusement Gaming Corporation (Pagcor), National Bureau of Investigation (NBI) and the Philippine National Police (PNP), specifically, the regional directors of areas where the disappearances were reported: Region 3 (Bulacan), 4A (Batangas and Laguna) and NCRPO (Manila). Also to be summoned are owners of farms where these people disappeared, adding that families of the missing are, likewise, welcome to share information with the investi-

gating committee. Asked if big gaming businessman Charlie Atong Ang will likewise be summoned to testify, the probe chairman replied: “If he (Ang) is an operator [of an e-sabong entity],” then he may be included among the invitees. At the same time, la Rosa did not rule out the possibility that relatives of the missing cockfighting afficianados may also be invited to testify. “So far, I have not personally met any of them; but I have reached out to those who sought my help through my Facebook page,” the senator said, adding that he had asked his staff, and some journalists who had access to the victims’ families “to help me reach out to them.” Asked if he, as then PNP chief, encountered similar cases involving missing sabongeros, De la Rosa replied there weren’t many such cases. He added partly in Filipino, however,

that from this current controversy, he had received reports that the root is game-fixing. “Handlers bet on the rival cock, and then disable (bali pakpak) the cocks they are supposed to handle.” The senator admitted: “I am very alarmed at this situation,” recalling that the victims disappeared way back in early January. Prodded to remark on speculation that some of those seizing the sabongeros are uniformed or exuniformed personnel, Bato acknowledged that possibility, saying, partly in Filipino: “By the manner they are conducting their business: Parang duda ako baka mamaya meron tayong madiscover dito na dismissed na military or police officer—[you can see by their] training, tactical movements in these operations; naka-bonnet pa, very swift, very decisive ang movements, very accurate ang ginagawa nila.”

ENATE Minority Leader Franklin M. Drilon cautioned the Commission of Elections (Comelec) against overreaching its drive to take down “illegal” oversized campaign posters displayed by candidate supporters in private properties, invoking a decision on the issue by the High Tribunal. “There was already a Supreme Court (SC) ruling related to this in Diocese of Bacolod vs. Comelec,” Drilon said, recalling the SC verdict when the Diocese of Bacolod displayed on its property tarpaulins that exceeded the recommended size by the Comelec. The Senator reminded that “the SC, in no uncertain terms said that Section 9 of the Fair Election Act, which limits the size of campaign materials only mentions candidates and parties—these provisions pertain to candidates and political parties. Petitioners are not candidates.” “Neither do they belong to any political party,” Drilon added. “The Comelec does not have the authority to regulate the enjoyment of the preferred right to freedom of expression exercised by a non-candidate in this case.”

He adds that the High Tribunal ruling also reminded that “size limitations hit at a core part of freedom of expression and that any curtailment of that freedom should be narrowlytailored to fit the purpose intended.” Moreover, Drilon recalled that the SC verdict likewise cited the Adiong v. Comelec, noting that a restriction on where decals and posters can be posted is “too broad as it affects private property.” The Senate Minority Leader reminded that the Supreme Court ruling further stated that “any regulation which constitutes an arbitrary or unreasonable infringement of property rights is void.” “The Comelec should be reminded of its limitations,” Drilon added, warning that “It cannot destroy or remove campaign materials such as signages posted inside private properties without the benefit of due process.” He further affirms “this limitation holds even more importance now that so many initiatives are volunteer-led and sponsored, something which we have never seen in the past.” Butch Fernandez

DENR, NGOs partner DPWH to hasten completion of Mindanao infra projects for watershed rehab By Lorenz S. Marasigan @lorenzmarasigan

By Jonathan L. Mayuga @jonlmayuga

HE Department of Environment and Natural Resources (DENR) and DENR-Region 4A announced partnering with various nongovernment organizations (NGOs) to boost the ongoing rehabilitation efforts in the Marikina Watershed. The partnership was formalized with the signing of a memorandum of agreement (MOA) that will highlight the use of bamboo as planting materials and the application of bamboo production technology and good agro-forest practices. The signatories are officials and representatives from the Rotar y International District 3830, Samahang Kawayan ng Karugo Agri Farmers Association, Philippine Bamboo Foundation Inc. and DENR-Calabarzon during simple ceremonies held at t he DENR Centra l Of f ice on February 16. The objective of the partnership is to establish bamboo social enterprises while raising crops according to the DENR guidelines. The program will cover 20 hectares within the Marikina Watershed that will be distributed under the DENR’s enhanced “National Greening Program,” or NGP. The initial phase of the project will involve the establishment of the nursery which includes the raising of bamboo planting materials for a period of six to eight

months, while the second phase involves the transplanting of grown bamboo planting materials within the 20-hectare land allocated for Rotary International District 3830 with the partnership of Samahang Kawayan ng Karugo Agri Farmers Association. The MOA sets the protection of the land for a total of five years. Du r ing t he ceremony, t he DENR and Rotary International District 3830 also led the turnover of checks worth P1 million to the Samahang Kawayan ng Karugo Agri Farmers Association for the funding of the rehabilitation project. The project was initiated by the Philippine Bamboo Industry Development Council and Task Force “Tayo Ang Kalikasan” (we are the environment). DENR-Region 4A Executive Director Nilo B. Tamoria said in a statement that agency officials have recognized bamboo as primary species for the NGP. Tamoria also cited that one of the strategies is watershed management in the Upper Marikina River Basin through riverbanks stabilization to prevent soil erosion. In 2021, a seedling nursery was established in Sitio Karugo, Barangay San Rafael, Rodriguez, Rizal, by the Rotary International Districts 3780 and 3830, he added. According to Tamoria, the program “will be very instrumental in achieving the total rehabilitation” of the Marikina Watershed.

Nigerians nabbed for ‘love scam’ to be deported–BI By Joel R. San Juan @jrsanjuan1573

HE Bureau of Immigration (BI) announced last Sunday the arrest of three Nigerian nationals believed to be involved in the so-called “love scam” targeting unsuspecting Filipinas online and defrauding them of large sums of money. The arrested Nigerians were identified as: Shaka Hashimu Dirisu, 41; Anih Chinedu Miracle, 27; and, Gabriel Daniel Evans, 31. BI Intelligence Division Chief Fortunato S. Manahan Jr. said the suspects were arrested last February 16 in coordination with personnel of the Armed Forces of the Philippines, through the strength of a mission order issued by BI Commissioner Jaime H. Morente. “We are also investigating their

links to a South African organized crime group and other scamming and fraud activities, as well as looking into possible cohorts that are still in the country,” Manahan said. The three, according to the BI, have been using several aliases to prevent arrest. Their documents also showed that they are already overstaying. The three face deportation cases for overstaying, misrepresentation, and for being undesirable aliens, in violation of the Philippine Immigration Act of 1940, as amended. It can be recalled that two Nigerian nationals were also arrested by the National Bureau of Investigation early this year for their alleged involvement in an online banking fraud that affected at least 700 clients of a major banking institution.

HE Department of Public Works and Highways (DPWH) has ordered the hastening of the completion of several infrastructure projects in Mindanao. In separate statements, the DPWH said one project is the Tampilisan-Sandayong Road, a new direct link between the cities of Dipologo and Pagadian while by-passing the Zamboanga Peninsula via Ipil. Likewise, the DPWH cited the formal holding of first Multi-Partite Monitoring Team-Sectoral Committee Meeting for the Panguil Bay Bridge Project, which seeks to ensure the proper coordination, successful integration, and effective implementation of the mega bridge project connecting Tubod, Lanao Del Norte and Tangub City, Misamis Occidental. Currently, the government is upgrading the Tampilisan-Sandayong Road to enhance agricultural, trade and commercial activities and accompanying sustainable value generation in Zamboanga del Norte. It involves the upgrading and concreting of 17.58 kilometers of road with paved shoulder. It also covers the replacement/construction of three bridges including slope protection works, and provision of reinforced concrete box culvert and pipe culvert. Public Works Undersecretary Emil K. Sadain was quoted in the statement as saying that the improvement of the Tampilisan-Sandayong Road is one the legacy project of the Duterte administration. The Tampilisan-Sandayong Road is part of the Improving Growth Corri-

THIS undated photo courtesy of the Department of Public Works and Highways (DPWH) shows the site for the Panguil Bay Bridge Project, which seeks to ensure the proper coordination, successful integration, and effective implementation of the mega bridge project connecting Tubod, Lanao Del Norte and Tangub City, Misamis Occidental.

dors in Mindanao Road Sector Project (IGCMRSP), a program financed by an Asian Development Bank (ADB) loan.

Panguil Bay bridge

ORGANIZED by the DPWH Unified Project Management Office (UPMO) Roads Management Cluster 2 (Multilateral), the DPWH said the meeting held last February 17 formed the group that would oversee the Panguil Bay bridge project. According to Sadain, the group will serve as an ad-hoc body that “will institutionalize participatory and transparent monitoring on report of project

progress during project construction stage to ensure its quality and timely completion by December 2023.” “It was agreed during the meeting that the group will be formally organized to serve as an infrastructure monitoring and advisory body that will conduct regular forums to guarantee stakeholders’ greater involvement, support and cooperation,” the statement from the DPWH read. The agency said that civil works contract for the bridge was awarded in February 2020, a month before the country was placed under series of stayat-home orders and cordon sanitaire

measures due to Covid-19 pandemic. “Despite challenges because of the public health emergency, the DPWH and its contractor Namkwang-Kukdong-Gumgwang Joint Venture stepped up the construction of bored piles foundation with about 44 out of the total 54 already completed to date,” the statement read. Funded by a loan agreement between the Government of the Philippine and Korean Export Import Bank, Panguil Bay Bridge is expected to uplift the economy and encourage growth of tourism in Lanao del Norte and Misamis Occidental.

New Judicial Marshal Service law None of Covid-infected OFWs awaits Duterte signature–solon in HK was displaced–Bello By Jovee Marie N. Dela Cruz @joveemarie

HE chairperson of the House Committee on Strategic Intelligence on Sunday said the bill establishing the Judicial Marshal Service, which seeks to bolster the independence of the country’s courts of law, is now awaiting President Rodrigo Duterte’s signature. Surigao del Sur Rep. Johnny T. Pimentel, in a statement, said the new marshal service is expected to operate “as an independent, professional, and organized security force under the direct control and supervision of the Supreme Court.” He said the service is meant to secure justices, judges, court officials and staff, and counteract all potential threats against them. “Armed protection will reinforce

the ability of our 2,766 justices and judges to freely perform their duties without fear of reprisal or retribution from disgruntled litigants and violent actors,” Pimentel added. According to Pimentel, a total of 34 judges have been murdered in the country since 1999, and many of the cases remain unsolved up to now. “We must stress that a truly independent judiciary is absolutely imperative if we want to uphold the rule of law at all times, ensure public accountability and safeguard our democratic way of life,” the lawmaker said. Pimentel was the first member of Congress to file the bill creating the marshal service in 2019, after then Chief Justice Diosdado Peralta appealed for a judicial protective force following the murder of Tagudin, Ilocos Sur Regional Trial Court Judge Mario Anacleto Bañez.

By Samuel P. Medenilla @sam_medenilla

HE Department of Labor and Employment (DOLE) on Sunday said it has yet to get a report of any overseas Filipino worker (OFW) in Hong Kong who was displaced after being infected with Covid-19. Based on the report of the labor attaché in Hong Kong, Labor and Employment Secretary Silvestre H. Bello III said there are currently 28 OFWs who tested positive of Covid-19. “Regarding OFWs in HK (Hong Kong), we currently have no report of any OFW, who were fired [by their employer],” Bello said in an SMS on Sunday evening. Of those infected, five have fully recovered, two are in the hospital, while 21 are under

isolation. Bello said 13 of the isolated OFWs are staying in a government facility, while eight are still with their employers. “All of them are being monitored by the POLO (Philippine Overseas Labor Office) and the PCG (Philippine Consulate General). None of them [is] in critical condition,” Bello said. The labor chief made the assurance amid reports some infected migrant workers in Hong Kong, which is currently battling a surge in Covid-19 cases, were being forced bgy their employers to sleep on the streets. The PCG warned employers in Hong Kong, who will dismiss OFWs who have tested positive for Covid-19, that they will be held accountable.

Agriculture/Commodities BusinessMirror

www.businessmirror.com.ph

Editor: Jennifer A. Ng • Monday, February 21, 2022 A5

LandBank agri loans reach ₧247.85B in 2021 By Jasper Emmanuel Y. Arcalas @jearcalas

HE Land Bank of the Philippines (LandBank) said its outstanding loans to the agriculture sector last year grew by 4.31 percent year-on-year to P247.85 billion. LandBank said in a statement that its outstanding loans to the agriculture sector last year was P10.23 billion higher than the P237.62 billion recorded in 2020. With the increase in outstanding loans, the bank said it was able to surpass its target of 3.2 million farmers and fisherfolk beneficiaries nationwide. “Assisting over 3.2 million farm-

ers and fishers underscores LandBank’s intensified support to the agriculture sector. We will continue to promote recovery and renewed growth for agri players and other development industries, as part of our expanded and holistic approach in serving the nation,” LandBank President and CEO Cecilia C. Borromeo said over the weekend. LandBank said P38.83 billion of its outstanding agricultural loans last year “directly benefited small farmers and fisherfolk,” including loans that were channeled through cooperatives and farmers associations. “A total of P155.66 billion supported small, medium, and large

agribusiness enterprises, while the remaining P53.36 billion aided agriaqua related projects of local government units (LGUs) and governmentowned and -controlled corporations.” LandBank said about P60.4 billion of its total agricultural loans last year financed crops, livestock, and fisheries, while P88.25 billion was channeled for agri-processing and trading. “The remaining P99.19 billion backed the construction and improvement of essential infrastructure such as public markets, farmto-market roads, warehouses, cold storages, irrigation systems, and slaughterhouses.” LandBank said about 2.32 million

or 72 percent of the total farmers and fisherfolk beneficiaries last year were supported through the bank’s regular loan programs, including lending programs administered for the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR). “As of December 31, 2021, LandBank has released a total of P11.95 billion for the benefit of 296,636 farmers and fishers under the programs administered for the DA.” “These include the Agricultural Competitiveness Enhancement Fund, Socialized Credit Program under the Sugarcane Industry Development Act, Expanded Rice Credit

Assistance under the Rice Competitiveness Enhancement Fund, Survival and Recovery Assistance Lending Program, and Expanded SURE Aid and Recovery Project.” LandBank said it released P679.92 million worth of loans to 10,170 small farmers, particularly agrarian reform beneficiaries and small farm holders, through the Credit Assistance Program for Program Beneficiaries Development and Expanded Assistance to Restore and Install Sustainable Enterprises for Agrarian Reform Beneficiaries and Small Farm Holders. The two loan programs are in partnership with DAR, the bank said. LandBank added that it assist-

ed 796,311 beneficiaries under the DA’s Rice Farmer Financial Assistance and Financial Subsidy to Rice Farmers Programs, with 62,020 of which availing the SURE Aid Program. LandBank said the remaining 187,690 beneficiaries received capacity building training through the bank’s Countryside Development Foundation Inc. program. “LandBank continues to support the agriculture sector as part of its social mandate of promoting countryside development, alongside servicing the financial needs of micro, small and medium enterprises, countryside financial institutions, LGUs, and government institutions.”

Manila, PBGEA to launch campaign to promote PHL bananas in Japan PhilMech tests

Counterpart

PBGEA Executive Director Stephen A. Antig confirmed to the BusinessMirror that his group would contribute P1.5 million for the marketing campaign. Antig said the marketing campaign would revolve on three key concepts—”awareness, appreciation, and acceptance” of Philippine

bananas, particularly the challenges related to banana production. “We will try to make the Japanese consumers aware that there should really be a price adjustment otherwise we cannot sustain our production locally and our exports to Japan. We will make them aware that the current buying price is really not sustainable because of the spiraling production costs,” he said in an interview. “Once they are aware of that, hopefully they will appreciate our efforts to continue producing quality bananas for their market. That’s the reason why we’re not cutting back on our production inputs, because we want to continue producing high quality bananas for the Japanese market.” Antig said the domestic banana industry is optimistic that the marketing campaign would enable producers to secure the support of Japanese consumers for their bid to adjust prices.

Initial proposal

LAST year, the BusinessMirror broke the story that Filipino banana exporters are urging the government to initiate talks with Japanese retailers for a possible price increase to help them cope with rising production costs. In a letter to Laquian, PBGEA sought the support of the government in requesting higher prices for Philippine bananas sold in Japan. Citing data from Japan’s Min-

World Pulses Day leverages the power of youth to transform agrifood systems

HE cultivation of pulses, combined with the power of young people, can help achieve a transformation in our agrifood systems, said Qu Dongyu, DirectorGeneral of the Food and Agriculture Organization of the United Nations (FAO), at a recent virtual event held to mark World Pulses Day. “Our agrifood systems need a paradigm shift,” said Qu, stating that “a focus on pulses can help us achieve this transformation, and achieve the Sustainable Development Goals (SDGs).” World Pulses Day seeks to raise awareness of the role of pulses in addressing food security challenges and their contribution to achieving a healthy and balanced diet. The theme for this year’s celebration is “Pulses to empower youth in achieving sustainable agrifood systems.” Currently, there are 1.8 billion young people in the world between the ages of 10 and 24 who have the creativity and energy for renewing perspectives and opportunities and, as Qu affirmed, it’s a potential that countries must tap into. “Pulses contribute to creating livelihood opportunities and equity, which are essential for sustainable agrifood systems. FAO strongly supports the youth to become drivers of positive change,” Qu said. Young people can bring added

value to the promotion of pulses by shedding light on new business opportunities along the value chain, including by driving innovations to transform agrifood systems and boost pulse-based sustainable production. Young people are the best stewards for pulse innovation and their receptiveness to innovation can trigger real change. The event kicked off with keynote speeches from Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), Naoko Yamamoto, Assistant Director-General for Healthy Population at the World Health Organization (WHO), Nevzat Birişik, Director-General of Agricultural Research and Policies at the Ministry of Agriculture and Forestry of the Republic of Turkey and Cindy Brown, President of the Global Pulse Confederation (GPC). Pulses and legumes contribute to the sustainability of food systems and are one of the main enablers of healthy diets. They are essential for diversifying agricultural production systems contributing to Better Production, and are particularly important for sustainable crop production due to their ability to trap atmospheric nitrogen and improve the turnover of phosphorous, enhancing soil nutrient cycles and a Better Environment.

equipment for drying unmilled rice

T BUSINESSMIRROR FILE PHOTO

HE government and the Pilipino Banana Growers and Exporters Association (PBGEA) will spend P4.5 million for a marketing campaign that aims to promote Philippine bananas in Japan. The Department of Agriculture (DA) will shell out P3 million, while PBGEA will spend P1.5 million for the marketing and public relations (PR) campaign. Agriculture Secretary William D. Dar issued Special Order (SO) 108 authorizing Jose I. Laquian, the Philippine Agricultural Attaché to Japan, as special disbursing officer (SDO) for the conduct of a PR campaign for Philippine bananas in the Japanese market. As SDO, Laquian has been authorized by Dar to obtain a cash advance of about P3 million “to defray costs/expenses related” to the PR campaign. Under the SO, the P3-million fund would be used for the hiring of a PR company to conduct the campaign. The SO stipulated that the PR and marketing campaign shall be conducted from February to June.

istry of Internal Affairs and Communications, PBGEA noted that the purchasing price of bananas in the East Asian country for the past seven years has remained flat at $2.36 per kilogram. “Production costs have increased substantially over the last 7 years with this year (2020) being the most substantial,” the group told the BusinessMirror. Aside from disease outbreaks, members of the group are now grap-

pling with Covid-19-related problems, such as rising freight costs and stiffer competition posed by Latin American and Southeast Asian banana producers in key banana markets of the Philippines. PBGEA said it saw an “unprecedented” increase in their key inputs, such as fertilizers which rose by 100 percent; kraft paper used for boxes, 53 percent; plastics, 65 percent; and maritime freight, more than 100 percent due to the global

shortage of containers. Philippine Statistics Authority (PSA) data showed that Japan remained as the country’s top importer of Philippine bananas as it accounted for 38.14 percent of the total volume of exports last year. T he Ph i l ippi nes e x por ted 923,060.755 metric tons (MT) of bananas to Japan last year, which was 34.75 percent lower compared to the 1.414 MMT recorded in 2020. Jasper Emmanuel Y. Arcalas

Fertilizer markets roiled by Belarus potash force majeure

BELARUSIAN potash miner that accounts for a major chunk of global supply has declared force majeure, shaking up a market that’s already contending with soaring prices. Belaruskali said around February 16 that it won’t be able to meet its contracts, according to a letter from an exporter addressed to clients seen by Bloomberg. Shipments have been halted as a result of United States and European sanctions. The absence of Belarusian supplies will have big consequences. Potash is a key nutrient for major commodity crops like corn and soybeans, as well as produce. Fertilizer prices have already skyrocketed as soaring natural gas costs forced some European plants to halt or curtail production, and US spot prices for potash in the Corn Belt have nearly doubled in the last year. Expensive fertilizer is making food more costly to produce and contributing to rising global inflation for consumers. “This is a fairly unprecedented situation in the potash market,” CRU Group analyst Humphrey Knight said by phone. “It could take many months if not longer for that supply to recover.” Belarus exports about 10-12 million tons annually, according to Green Markets data. The country accounts for about a fifth of global supply. It’s a major shipper to Brazil, as well as to India and China. “Global potash contracts have set-

tled at the highest price since 2008, ensuring another year of pricey inputs for farmers and strong earnings for producers,” Alexis Maxwell, an analyst Green Markets, a company owned by Bloomberg, said in an email. “US sanctions on Belarus eliminated a key competitor” with no readily available alternative supplier.” The US sanctions against Belaruskali, Belarus’s only potash miner, came into force in December, while penalties against Belarusian Potash Co., which exports all the potash from the country, should become effective April 1. The sanctions may result in shifting trade flows and some demand rationing, Nutrien Ltd. interim Chief Executive Officer Ken Seitz said in an interview. Customers who have historically purchased from Belarus are trying to secure supplies elsewhere. For example, Russia is doubling fertilizer quantities offered to Brazil, Brazilian President Jair Bolsonaro said during an interview to Radio Jovem Pan Thursday. Belarusian President Alexander Lukashenko discussed the potash sanctions with Russian counterpart Vladimir Putin, he said during a televised joint news conference in Moscow. Putin ordered a port to be built near St. Petersburg for exports of the nutrient, Lukashenko said, adding that Belarus expects to start loading “millions” of tons of cargo there within 1 to 1.5 years.

CRU’s Knight said that Russian ports were likely the only option left for Belarusian Potash Co. to export, but most are already operating at capacity. While some Belarusian potash could be rerouted to the Russian market, pushing Russian companies to export more, the volumes would be small, he said. Nutrien has an additional half million tons of capacity that would be available in the latter half of 2022 if needed, Seitz said. Grower margins are strong, so higher potash prices won’t result in less demand. The company could also ramp up potash output, but first, it would need to see a prolonged impact on the market for “years” to bring on additional sustained capacity, Seitz said. Nutrien increased its potash capacity by 1 million tons in 2021 and additional volumes are expected to come online in 2022 from other companies, he said. “We’re not standing around saying we’re not doing anything,” Seitz said, noting the company doesn’t want to be left with additional cost if supply challenges go away quickly. “We are bringing on volumes.” Nutrien anticipates global potash shipments will be between 68 million tons and 71 million tons in 2022. The potash situation in Belarus is bleak, Scotiabank analyst Ben Isaacson said in a note. Nutrien will benefit not only from the higher prices, but also from being able to leverage their volume of the crop nutrient. Bloomberg News

HE Philippine Center for Postharvest Development and Mechanization (PhilMech) said it is targeting to complete within the year the development of the fluidized bed dryer, which will allow farmers to ensure uniform moisture content for their palay. The PhilMech, an attached agency of the Department of Agriculture (DA), said two prototypes of the farm machinery are currently undergoing testing, evaluation and improvement in Nueva Ecija. “The current prototype model now has a bigger capacity and once commercialized, will be of great benefit to palay (unmilled rice) farmers as much of the drying of their harvests is still being done on the road. During rainy weather, most palay farmers have a hard time drying their harvests,” PhilMech Executive Director Dr. Baldwin G. Jallorina said in a statement. Romualdo Martinez of PhilMech’s Agricultural Mechanization Division and project leader for the development of the Fluidized Bed Dryer, said one of the best features of the Fluidized Bed Dryer is it results in the uniform drying of palay, which in turn assures the quality of the dried palay. “Many farmers still dry their palay on the road and on concrete pavements. This does not assure the uniform drying of palay unlike advanced drying systems like the Fluidized Bed Dryer,” Martinez said. The agency noted that the ideal moisture content for palay is 14 percent. PhilMech said it started improving the fluidized drying technology in 2020 under the agency’s program to respond to the Covid-19 pandemic. “The prototype being tested by PhilMech now has the capacity to dry 20 to 24 tons of palay per 10 to 12 hours of drying cycle. It uses heat generated by a PhilMech-designed biomass furnace or a diesel burner,” it said. “It also has electronic controls that lessen the need for laborers to operate,” it added. PhilMech said two cooperatives based in Nueva Ecija are currently involved in the testing, evaluation and improvement of the Fluidized Bed Dryer: the Nagkakaisang Magsasaka Agricultural Primary Multipurpose Cooperative in Tabaco, Talavera; and the Bagong Buhay ng Mabini Primary Multipurpose Cooperative in Mabini, Sto. Domingo. PhilMech also conducted a technology demonstration for the Fluidized Bed Dryer last December 10, 2021 at Brgy. Mabini, Sto. Domingo, Nueva Ecija to more than 20 farmers from different cooperatives. Jasper Emmanuel Y. Arcalas

Monday, February 21, 2022

The World BusinessMirror

EU chief: Russia could be cut off from markets, tech goods

UNICH—Moscow would have its access to financial markets and high-tech goods limited under Western sanctions being prepared in case Russia attacks Ukraine, a top European Union official said Saturday.

industrial powers and Ukraine. “A breach of Ukraine’s integrity and sovereignty is a breach of Ukraine’s integrity and sovereignty,” Baerbock said. “You can’t say that one geographical part is a bit more Ukraine and another is a bit less Ukraine.” She said Western officials have made clear that an actual invasion isn’t the only possible scenario but “are prepared for every situation.” Using a chess analogy, the German minister said: “If you present your next five moves in public, you won’t be particularly successful.” In Munich with other members of the US Congress, House Speaker Nancy Pelosi said sanctions might include the SWIFT banking system, which could cut Russia off from most international financial transactions. “That’s still a matter of negotiation,” Pelosi said. Kicking Russia out of SWIFT would also hurt other economies, including those of the US and key ally Germany. Asked whether Congress, which is in recess next week, would come back early if Russia invades Ukraine, Pelosi said “the president has the authority to implement those sanctions without the Congress.” Regardless of what actions Russia takes, Pelosi said there’s a price to pay for what Putin has done already. “You can’t bully the world and take a walk and you’re off the hook,” she said. AP

The comments from Ursula von der Leyen, head of the EU’s Executive Commission, came as tensions over Russia’s intentions toward Ukraine intensified. US President Joe Biden said Friday he was “convinced” that Russian President Vladimir Putin has decided to invade the neighboring country. “ T he K rem l in’s d a ngerous thinking, which comes straight out of a dark past, may cost Russia a prosperous future,” von der Leyen said during the annual Munich Security Conference, where US Vice President Kamala Harris also spoke. Von der Leyen said the EU’s executive arm has developed a “robust and comprehensive package” of possible financial sanctions against Russia with the US, UK and Canada. “In case that Russia strikes, we will limit the access to financial markets for the Russian economy and [impose] export controls that will stop the possibility for Russia to modernize and diversify its economy,” she added. “And we have

a lot of high-tech goods where we have a global dominance, and that are absolutely necessary for Russia and cannot be replaced easily.” British Prime Minister Boris Johnson said the UK was coordinating its sanctions closely with the EU. “If Russia invades its neighbor, we will sanction Russian individuals and companies of strategic importance to the Russian state and we will make it impossible for them to raise finance on the London capital markets,” he said in Munich. Johnson added that authorities would look for “the ultimate beneficiaries” of Russian-owned companies and entities. German Chancellor Olaf Scholz said that, during a meeting Tuesday with Putin, he “made clear that any further violation of the territorial integrity of Ukraine will have high costs for Russia, politically, economically and geostrategically.” Western leaders so far have not specified what precise Russian action would trigger sanctions. A French official who wasn’t autho-

Western Europe cleans up after storm leaves 12 dead

Farmer anger will test Modi as India’s ‘grain bowl’ votes

ONDON — Crews cleared fallen trees and worked to restore power to about 400,000 people in Britain as Western Europe cleaned up Saturday after one of the most damaging storms in years. At least 12 people were killed, many by falling trees, in Ireland, Britain, Belgium, the Netherlands and Germany. Named Storm Eunice by the British and Irish weather services, and Storm Zeynep in Germany, Friday’s storm was the second to hit the region in a week. Winds toppled the spire of a church in Wells, southwest England, ripped off parts of the domed roof of London’s O2 Arena and left a trail of felled trees and damaged buildings across several countries. A gust of 122 miles an hour (196 kilometers an hour) was provisionally recorded Friday on the Isle of Wight. If confirmed, it would be the highest ever in England. Hurricaneforce winds begin at 74 mph. The Met Office weather service said more strong winds would hit the southern coasts of England and Wales on Saturday, with the potential for further damage, while snow and ice could cause disruption further north. The UK’s National Rail association said “routes across most of Great Britain” remained affected by the weather on Saturday morning, with disruptions to continue throughout the day. Transport in Germany also remained severely disrupted, with railway operator Deutsche Bahn saying no long-distance trains would operate north of Dortmund, Hannover and Berlin until at least 6 p.m. The storm left at least three people dead in Germany, including a man who fell as he was trying to repair a damaged roof and a driver whose car crashed into a tree that had fallen across a road. In the northwestern city of Bremen, a 55-meter (180-foot) crane fell onto an unfinished office building. A cleanup also was underway in the Netherlands, where four people died as Eunice tore across the country on Friday. AP

ATEHGARH SAHIB, India— A mandeep K aur Dholewal rose from a traditional Indian cot and began speaking to a small gathering of men and women who sat cross-legged in a park opposite a white-domed gurdwara, a place of worship for Sikhs. T he 37-year- old doctor was flanked by a dozen of her supporters, mainly drawn from the protesters who last year hunkered on the edges of the Indian capital and demonstrated against now-repealed controversial farm laws. If elected, Dholewal told the crowd, she’d fight tirelessly for the rights of farmers. Her group of three cars then moved to another village along narrow, dusty roads that cut through thick wheat and mustard fields that stretched off into the distance. There, Dholewal repeated a similar message. “We have already defeated Modi once. Let’s defeat him again.” Her voice bellowed from a loudspeaker attached to an auto rickshaw, displaying none of the flamboyance of a seasoned politician but drawing bursting applause from the audience. T he scene u nderscored t he changing electoral landscape in India’s Punjab state, where more than 21 million voters will cast ballots on Sunday in polls that are seen as a barometer of Prime Minister Narendra Modi and his party’s popularity ahead of general elections in 2024. The polls will indicate whether riding the crest of the yearlong protests that forced Modi to make a rare retreat could be enough to prevent his party from making inroads in a state considered the “grain bowl” of India. Political newbies like Dholewal are pinning their hopes on this very formula. They are vying to convert the farmers’ anger into votes, arguing that a new party is the only path to change. “People are asking me, ‘Why are you late? We were waiting for you,’” said Dholewal, who ran a medical camp at one of the protest sites last year. She is now a candidate for Sanyukt Samaj Morcha, a newly minted political party that includes some of the farm unions that organized the protests. “People know their rights now,”

European Commission President Ursula von der Leyen speaks at the Munich Security Conference in Munich, Germany, on Saturday, February 19, 2022. AP Photo/Michael Probst

rized to be publicly named and spoke on condition of anonymity after Biden conferred with several counterparts on Friday said they were talking about an invasion of territory currently under the control of the government in Kyiv. “It is in the event of an invasion of this territory that...the massive sanctions that we are talking about would be triggered,” the official said. Parts of eastern Ukraine are under the control of pro-Russia separatists who have been fighting Ukrainian forces since 2014, the year Russia annexed Ukraine’s Crimean Peninsula. German Foreign Minister Annalena Baerbock, asked what Russian actions would trigger sanctions, didn’t offer any details after a meeting in Munich with her counterparts from the Group of Seven

she said. Modi’s party implemented the controversial farm laws in September 2020 using its executive powers and without any consultation in the Parliament. His administration billed them as necessary reforms, but farmers feared the laws signaled the government was moving away from a system in which they sold their harvest only in government-sanctioned marketplaces. They worried this would leave them poorer and at the mercy of private corporations. The laws triggered a year of protests as angry farmers—most of them Sikhs from Punjab state— camped on the outskirts of New Delhi through a harsh winter and devastating coronavirus surge. In a major reversal, Modi withdrew the laws a year later in November, just three months ahead of the crucial polls in Punjab and four other states. The election results will be announced on March 10. Modi’s Bharatiya Janata Party has a relatively small footprint in Punjab but hopes to form a government there with a regional ally and strengthen its fledgling voter base among farmers, one of the largest voting blocs in India. Punjab, where people are deeply proud of their state’s religious syncretism, also represents a test for his party’s Hindu nationalist reach, which has flourished in most of northern India since 2014. Meanwhile, Modi’s party is running its campaign by trying to frame the incumbent Congress party government as corrupt. It is also making grand promises to create more jobs, provide farm subsidies and free electricity for farmers, and eradicate the drug menace that has ailed the state for years. Experts say the moves are intended to placate the angry farmers and that the elections were a major reason behind Modi’s sudden decision to withdraw the laws. That anger, however, runs deep. More than 700 farmers died during the protests as they weathered brutal cold, record rains and sweltering heat, according to Samyukt Kisan Morcha, or the United Farmers Front, the umbrella group of farm unions that organized the agi-

tation. Dozens also died by suicide. But in December last year, Agriculture Minister Narendra Singh Tomar told Parliament that his government had no record of the farmers’ deaths. This caused widespread anger among the families of the deceased, many of whom are small or landless farmers who constitute the lowest rung of India’s farming community. “Where did those 700-750 farmers go then? The Modi government is responsible for their deaths,” said Amarjeet Singh, choking back tears in his family home in Kaler Ghuman village, some 40 kilometers (24 miles) from Amritsar, the state’s capital. Singh’s father, Sudagar Singh, died on a sweltering September afternoon from sudden cardiac arrest, according to his death certificate. At the time of his death, he was accompanied by his friend Charan Singh, the village head, who said the 72-year-old collapsed while returning home after spending weeks at the protests. “Even though we won in the end, those laws only brought misery to our lives. Do you think we would forget that?” said Singh, pointing to a framed portrait of his friend. Scarred by the death, Sudagar Singh’s younger brother fell into depression, the family said. He stopped eating and working on his farm. Three months later, he too died. In some cases, the Punjab government has announced jobs and funds for the families of the deceased, but farmers say the elections are an opportunity to turn their anger into meaningful change. “That’s why you don’t see flags of any political party flying atop our homes,” said Singh, the village head. “We don’t trust them anymore.” Among those seeking to consolidate their political dominance through the election is the Aam Aadmi Party, which was formed in 2013 to eliminate corruption and has since ruled Delhi for two consecutive terms. Its campaign plan in Punjab, however, is not limited to just the farmers’ anger. The party hopes to ride on reemerged fault lines that were blurred during the demonstrations. AP

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Ukraine’s Zelenskyy proposes meeting with Putin and seeks resolution to crisis

Civilians train with members of the Georgian Legion, a paramilitary unit formed mainly by ethnic Georgian volunteers to fight against Russian forces in Ukraine in 2014, in Kyiv, Ukraine, on Saturday, February 19, 2022. Separatist leaders in eastern Ukraine have ordered a full military mobilization amid growing fears in the West that Russia is planning to invade the neighboring country. The announcement on Saturday came amid a spike in violence along the line of contact between Ukrainian forces and the pro-Russia rebels in recent days. AP Photo/Efrem Lukatsky

OSCOW—Ukrainian President Volodymyr Zelenskyy, facing a sharp spike in violence in and around territory held by Russia-backed rebels and increasingly dire warnings that Russia plans to invade, on Saturday called for Russian President Vladimir Putin to meet him and seek resolution to the crisis. “I don’t know what the president of the Russian Federation wants, so I am proposing a meeting,” Zelenskyy said at the Munich Security Conference, where he also met with US Vice President Kamala Harris. Zelenskyy said Russia could pick the location for the talks. “Ukraine will continue to follow only the diplomatic path for the sake of a peaceful settlement.” There was no immediate response from the Kremlin. Zelenskyy spoke hours after separatist leaders in eastern Ukraine ordered a full military mobilization on Saturday while Western leaders made increasingly dire warnings that a Russian invasion of its neighbor appeared imminent. In new signs of fears that a war could start within days, Germany and Austria told their citizens to leave Ukraine. German air carrier Lufthansa canceled flights to the capital, Kyiv, and to Odessa, a Black Sea port that could be a key target in an invasion. NATO’s liaison office in Kyiv said it was relocating staff to Brussels and to the western Ukraine city of Lviv. Meanwhile, top Ukrainian military officials came under a shelling attack during a tour of the front of the nearly eight-year separatist conflict in eastern Ukraine. The officials fled to a bomb shelter before hustling from the area, according to an Associated Press journalist who was on the tour. Violence in eastern Ukraine has spiked in recent days as Ukraine and the two regions held by the rebels each accused the other of escalation. Russia on Saturday said at least two shells fired from a governmentheld part of eastern Ukraine landed across the border, but Ukrainian Foreign Minister Dmytro Kuleba dismissed that claim as “a fake statement.” Sporadic violence has broken out for years along the line separating Ukrainian forces from the Russiabacked rebels, but the recent shelling and bombing spike could set off a full-scale war. The United States and many European countries have alleged for months that Russia, which has moved about 150,000 troops near the Ukrainian border, is trying to create pretexts to invade. “They are uncoiling and are now poised to strike,” US Defense Secretary Lloyd Austin said Saturday during a visit to Lithuania. Harris opened her meeting with Zelenskyy by saying the world was at “a decisive moment in history.” Earlier Saturday, Denis Pushilin, the head of the pro-Russia separatist government in Ukraine’s Donetsk region, cited an “immediate threat of aggression” from Ukrainian forces in his announcement. Ukrainian officials vehemently denied having plans to take rebel-controlled areas by force. “I appeal to all the men in the republic who can hold weapons to defend their families, their children, wives, mothers,” Pushilin said. “To-

gether we will achieve the coveted victory that we all need.” A similar statement followed from his counterpart in the Luhansk region. On Friday, the rebels began evacuating civilians to Russia with an announcement that appeared to be part of their and Moscow’s efforts to paint Ukraine as the aggressor. German Foreign Minister Annalena Baerbock said the evacuation orders could be a tactic to provide the spark for a broader attack. “To say it very clearly, Ukraine did not give any grounds for the evacuation that was ordered yesterday,” she said. “Those are the facts on the ground. We must not allow supposed reasons for war to be constructed out of hot air.” US President Joe Biden said late Friday that based on the latest American intelligence, he was now “convinced” that Russian President Vladimir Putin has decided to invade Ukraine and assault the capital. “As of this moment, I’m convinced he’s made the decision,” Biden said. “We have reason to believe that.” He reiterated that the assault could occur in the “coming days.” Biden was briefed on Harris’ meetings in Munich and has been getting regular updates on the Ukraine situation, White House press secretary Jen Psaki said in a statement Saturday. Biden will discuss Ukraine during a meeting with his National Security Council on Sunday, she said. Meanwhile, Russia conducted massive nuclear drills on Saturday. The Kremlin said Putin, who pledged to protect Russia’s national interests against what it sees as encroaching Western threats, was watching the drills together with Belarusian President Alexander Lukashenko from the situation room. Notably, the planned exercise involves the Crimea-based Black Sea Fleet. Russia annexed the Crimean Peninsula after seizing it from Ukraine in 2014. Underscoring the West’s concerns of an imminent invasion, a US defense official said an estimated 40 percent to 50 percent of the ground forces deployed in the vicinity of the Ukrainian border have moved into attack positions closer to the border. The shift has been underway for about a week, other officials have said, and does not necessarily mean Putin has decided to begin an invasion. The defense official spoke on condition of anonymity to discuss internal US military assessments. The official also said the number of Russian ground units known as battalion tactical groups in the border area had grown to as many as 125, up from 83 two weeks ago. Each group has 750 to 1,000 soldiers. Lines of communication between Moscow and the West remain open: the American and Russian defense chiefs spoke Friday. French President Emmanuel Macron scheduled a phone call with Putin on Sunday. US Secretary of State Antony Blinken and Russian Foreign Minister Sergey Lavrov agreed to meet next week. Immediate worries focused on eastern Ukraine, where Ukrainian forces have been fighting the proRussia rebels since 2014 in a conflict that has killed some 14,000 people. Violations of a 2015 cease-fire agreement, including shelling and shooting along the line of contact, have been common. AP

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Canada street protests simmer down, but could echo in politics

ORON TO —Most of t he streets around the Canadian Parliament are quiet now. The Ottawa protesters who vowed never to give up are largely gone, chased away by policemen in riot gear. The relentless blare of truckers’ horns has gone silent. But the trucker protest, which grew until it closed a handful of Canada-US border posts and shut down key parts of the capital city for weeks, could echo for years in Canadian politics and perhaps south of the border. The protest, which was first aimed at a Covid-19 vaccine mandate for cross-border truckers but also encompassed fury over the range of Covid-19 restrictions and hatred of Prime Minister Justin Trudeau, reflected the spread of disinformation in Canada and simmering populist and right-wing anger. “I think we’ve started something here,” said Mark Suitor, a 33-yearold protester from Hamilton, Ontario, speaking as police retook control of the streets around Parliament. Protesters had essentially occupied those streets for more than three weeks, embarrassing Trudeau and energizing Canada’s far right. Suitor believes the protests will divide the country, something he welcomes. “This is going to be a very big division in our country,” he said. “I don’t believe this is the end.” While most analysts doubt the protests will mark a historic watershed in Canadian politics, it has shaken both of Canada’s two major parties. “The protest has given both the Liberals and the Conservatives a black eye,” said Nelson Wiseman, a political science professor at the University of Toronto. Trudeau’s Liberals look bad for allowing protesters to foments weeks of chaos in the capital city, he said, while the Conservatives look bad for championing protesters, many of them from the farthest fringes of the right. The conservatives “have to be careful not to alienate more moderate voters, who are generally not sympathetic to the protesters or right-wing populism more generally,” said Daniel Béland, a political science professor at McGill University in Montreal. The self-styled Freedom Convoy shook Canada’s reputation for civility, inspired convoys in France, New Zealand and the Netherlands and interrupted trade, causing economic damage on both sides of the border. Hundreds of trucks eventually occupied the streets around Parliament, a display that was part protest and part carnival. Authorities moved quickly to reopen the border posts, but police in Ottawa did little but issue warnings until the past couple days, even as hundreds and sometimes thousands of protesters clogged the streets of the city and besieged Parliament Hill. Truckers ignored warnings that they were risking arrest and could have their rigs seized and bank accounts frozen under the new emer-

gency powers invoked by Trudeau. The truckers, parked on the streets in and around Parliament, blared their horns in defiance of a court injunction against honking, issued after residents said the constant noise was making the neighborhood unlivable. “It’s high time that these illegal and dangerous activities stop,” Trudeau declared in Parliament a few days ago, speaking just a few hundred meters from the protests. On Friday, authorities launched the largest police operation in Canadian history, arresting a string of Ottawa protesters and increasing that pressure on Saturday. Eventually, police arrested at least 170 people and towed away dozens of vehicles. Many protesters retreated as the pressure increased. The Ottawa protests—the movement’s last major stronghold—appeared to be largely over by Saturday evening, though some protesters warned they were only regrouping. As it did in the United States, Covid-19 quickly became a political issue in Canada. Coronavirus health restrictions became a political cudgel for Canada’s far right, which accused Trudeau of authoritarianism. But while the restrictions clearly benefited the far-right People’s Party of Canada, things are more complicated in the Conservative Party. Only recently have some Conservative leaders fully embraced the pushback against vaccine mandates and coronavirus restrictions. Even so, the protests may open the door to the sort of populism that former President Donald Trump used to vault himself into the White House. Pierre Poilievre, who is running to become the next leader of the Conservative party, has cheered on the protesters, gambling that voters will back him. But it remains unclear whether that will get him to the top of the party, or whether it would help or hurt him if there is a showdown between him and Trudeau or the next Liberal party leader. “Poilievre is clearly playing by the populist playbook right now,” said Béland. “If he becomes Conservative leader, the party might effectively shift towards Trump-style populism. However, it’s unclear whether enough Canadians support this vision to make it appealing beyond the party’s base.” The protests have been cheered on in the US by Fox News personalities and conservatives like Trump. Millions of dollars in donations have flowed across the border to the protesters. About 44 percent of the nearly $10 million in contributions to support the protesters originated from US donors, according to an Associated Press analysis of leaked donor files. Prominent Republican politicians have praised the protesters. But experts say the US support of the Canadian protesters is really aimed at energizing conservative politics in the US, where midterm elections are looming. AP

India and UAE seal bilateral pact to deepen trade, investment ties

he trade deal inked Friday cutting duties on almost 90% of goods traded between India and the United Arab Emirates will create one million jobs in the next five years, a senior Indian trade official said. Trade secretary B.V.R. Subrahmanyam, speaking Saturday in an online briefing, called the deal a “win-win” and said it would kick-in between April and May. India is seeking to deepen trade relationships to help its economy recover from the pandemic. It sees the deal with the UAE, its third-largest trade partner, as a springboard for moving further on agreements with other Gulf Arab nations. The UAE, meanwhile, is seeking to burnish its reputation as a global hub amid regional competition with Saudi Arabia. The oil-rich Gulf state signed a similar pact with Turkey a few days before finalizing the deal with India. The pact signed Friday cuts duties on metals, minerals, petrochemicals and petroleum products sold by the

UAE in India, while giving India’s exporters an advantage in items including leather, footwear, pharmaceuticals and textiles, Indian trade minister Piyush Goyal said while announcing the deal. The agreement includes a safeguard mechanism to protect against any sudden surge in import volumes, according to Goyal. India also agreed to concessions on UAE gold imports up to 200 tons, while the UAE agreed to eliminate duties on gems and jewelry, Subrahmanyam said. The deal came after a virtual summit earlier in the day between Indian Prime Minister Narendra Modi and Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed al Nahyan. Trade between India and the UAE totaled $53 billion from April to December 2021, according to India’s trade ministry. India imported goods worth $33 billion from the UAE during the period, while exporting $20 billion to the UAE. Bloomberg News

Monday, February 21, 2022 A7

‘Living with Covid’: UK to scrap all legal restrictions next week

ONDON—The British government confirmed Saturday that people with Covid-19 won’t be legally required to self-isolate starting next week, as part of a plan for “living with Covid” that is also likely to see testing for the coronavirus scaled back. Prime Minister Boris Johnson said ending all of the legal restrictions brought in to curb the spread of the virus will let people in the UK “protect ourselves without restricting our freedoms.” But some of the government’s scientific advisers said it was a risky move that could bring a surge in infections and weaken the country’s defenses against more virulent future strains. Johnson’s Conservative government lifted most virus restrictions in January, scrapping vaccine passports for venues and ending mask mandates in most settings apart from hospitals in England. Scotland, Wales and Northern Ireland also have opened up, although more slowly. A combination of high vaccination rates in the UK and the milder omicron variant means

easing restrictions didn’t lead to a surge in hospitalizations and deaths. Both are falling, though the UK still has Europe’s highest coronavirus toll after Russia, with more than 160,000 recorded deaths. In Britain, 85 percent of people age 12 and up have had two vaccine doses and almost two-thirds have had a third booster shot. Now the Conservative government says it will remove “all remaining domestic Covid regulations that restrict public freedoms” as part of a “move away from government intervention to personal responsibility.” The legal requirement to isolate for at least five days after a positive Covid-19 test will be repl aced w it h adv isor y measures, and the coronavirus will be treated more like the flu as it becomes endemic.

The new plan foresees vaccines and treatments keeping the virus in check, though the government said “surveillance systems and contingency measures will be retained” if needed. “Covid will not suddenly disappear, and we need to learn to live with this virus and continue to protect ourselves without restricting our freedoms,” said Johnson, who is expected to announce details of the plan Monday in Parliament. “We’ve built up strong protections against this virus over the past two years through the vaccine rollouts, tests, new treatments, and the best scientific understanding of what this virus can do,” he said. The announcement will please many Conservative Party lawmakers, who argue that the restrictions were inefficient and disproportionate. It could also shore up Johnson’s posit ion among party lawmakers, who have been mulling an attempt to oust him over scandals including lockdown-breaching government parties during the pandemic. But scientists stressed that much remains unknown about the virus, and future variants that may be more severe than the currently dominant omicron strain. The New and Emerging Virus Threats Advisory Group, which

advises the government, said last week that the idea viruses become progressively milder “is a common misconception.” It said the milder illness associated with Omicron “is likely a chance event” and future variants could be more severe or evade current vaccines. Epidemic modelers who advise the government also warned that “a sudden change, such as an end to testing and isolation, has the scope to lead to a return to rapid epidemic growth” if people throw caution to the wind. S c ie nt i s t s a l s o c aut ione d aga inst scrapping f ree rapid coronavirus tests, which have been distributed by the millions during the pandemic. Health officials say the mass testing has played an important role in slowing the spread of the virus. Scientists are also concerned the government might end the Infection Survey conducted by the Office for National Statistics, which is considered invaluable because it tests people whether or not they have symptoms. “This is not the time to take risks,” said Matthew Taylor, chief executive of the NHS Confederation, an umbrella group for state-funded health authorities in Britain. “We need to operate in an evidence-based and incremental way.” AP

UN hearings into Rohingya genocide case set to resume

HE HAGUE, Netherlands— An international case accusing Myanmar of genocide against the Rohingya ethnic minority returns to the United Nations’ highest court Monday amid questions over whether the country’s military rulers should even be allowed to represent the Southeast Asian nation. Four days of public hearings at the International Court of Justice start Monday into Myanmar’s preliminary objections to the case that was brought by Gambia, an African nation acting on behalf of an organization of Muslim nations that accuses Myanmar of genocide in its crackdown on the Rohingya. In August 2017, Myanmar’s military launched what it called a clearance campaign in Rakhine state in the country’s west in response to an attack by a Rohingya insurgent group. The campaign forced more than 700,000 Rohingya to flee to neighboring Bangladesh and led to accusations that security forces committed mass rapes and killings and burned thousands of homes. Gambia argues that the campaign amounted to a breach of the genocide convention and wants the court to hold the country responsible. The figurehead who led Myanmar’s legal team in court last time there were public hearings in the case—the nation’s ousted leader Aung San Suu Kyi—is in prison after being convicted on what supporters call trumped up charges. Opponents of Myanmar’s military rulers say they have appointed two officials to the country’s legal team at the UN top court who are the subject

Rohingya refugees gather near a fence during a government organized media tour, to a no-man’s land between Myanmar and Bangladesh, near Taungpyolatyar village, Maung Daw, northern Rakhine State, Myanmar, on June 29, 2018. An international case accusing Myanmar of genocide against the Rohingya ethnic minority returns to the United Nations’ highest court on Monday, February 21, 2022, amid questions over whether the country’s military rulers should even be allowed to represent the Southeast Asian nation. AP Photo/Min Kyi Thein

of international sanctions. Critics of the military rulers say that the National Unity Government—a shadow civilian administration—should be representing the country at hearings in The Hague. The group says it has appointed an “acting alternate agent,” UN Ambassador Kyaw Moe Tun, and says it’s withdrawing the country’s preliminary objections. “ T his is a shameful doublewhammy. Myanmar is being represented at the ICJ by people sanctioned for gross human rights abuses and violating the rule of law,” said Chris Gunness, director of the Myanmar Accountability Project. “But in any case, this illegal junta should not be representing Myan-

mar, it should be the NUG.” The court didn’t respond to a request for comment on Myanmar’s representation at the hearings. “What’s really important here is that...if it is the junta that’s in court, this is not something that should be taken to confer legitimacy on the junta,” said Akila Radhakrishnan, president of the Global Justice Center. At public hearings in late 2019, l aw ye r s re prese nt i ng Ga mbi a showed judges maps, satellite images and graphic photos to detail what they called a campaign of murder, rape and destruction amounting to genocide perpetrated by Myanmar’s military. T hat led the court to order Myanmar to do all it can to prevent

genocide against the Rohingya. The interim ruling was intended to protect the minority while the case is decided in The Hague, a process likely to take years. Since that ruling, the military has seized control of the nation. The takeover prompted widespread peaceful protests and civil disobedience that security forces suppressed with lethal force. About 1,500 civilians have been killed, according to the Assistance Association for Political Prisoners. Earlier this month, the UN Security Council called for an immediate halt to violence throughout Myanmar and reaffirmed support for the country’s democratic transition and democratic institutions. AP

Australian PM calls China navy incident an ‘act of intimidation’

ustralian Prime Minister Scott Morrison branded a Chinese navy vessel pointing a laser at one of his nation’s surveillance aircraft off the northern coast an “act of intimidation.” The incident occurred three days ago when a P-8A Poseidon patrol plane detected a laser from a Chinese naval ship sailing east through the Arafura Sea, Australia’s Department of Defense said in a statement late Saturday. Morrison responded early Sunday in televised comments in Melbourne. “I’m very concerned about the

actions of using the lasers,” he said. “That is, I can see it no other way than an act of intimidation, one that was unprovoked, unwarranted and Australia will never accept such acts of intimidation.” Ties between Australia and China have deteriorated in recent years over issues ranging from investment to alleged foreign interference in domestic politics. They plunged in 2020 when Morrison called for an investigation into the origins of Covid-19, infuriating Beijing. It responded with punitive trade actions targeting Australian com-

modities from coal to barley, lobsters and wine. Morrison said Australia is raising the laser issue directly with China through diplomatic and defense channels. “It was a reckless and irresponsible act and it should not occur,” he said. Defense Minister Peter Dutton said the incident was an example of “aggressive bullying” by China’s military. Australia’s opposition leader Anthony Albanese echoed those sentiments, saying the government should be “making the strongest

possible statement” about the incident. “It’s an outrageous act of aggression that should be condemned and I condemn it,” he said. The government in Beijing has increased its control over the South China Sea in the past decade, building artificial structures on disputed territory and sending large ships to prevent neighboring countries from extracting fish and energy from the seas. Australia has responded to the build-up by forging closer ties with India and Japan and boosting its own military capabilities. Bloomberg News

Monday, February 21, 2022 • Editor: Angel R. Calso

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‘The Unholy Trinity’

he discussion of basic Philippine foreign policy— as demonstrated in the last presidential forum—is simplistically “China or USA.” The differences in opinion and strategy come down to a perverse analysis on which alliance is “better.”

The “friend to all, enemy to none” policy makes for a great “motivational quote” but is as naïve as possible. Further, this kind of policy is more of “Cold War” thinking than for the globalized planet we inhabit. Geopolitics was easier 30+ years ago. “Good” and “Evil” were clear. Nations were either with the US or the USSR. Standing in the middle was the “Non-Aligned Movement,” initiated by Indian Prime Minister Jawaharlal Nehru, to play both “super-powers” off each other for all kinds of goodies. About one hundred years ago the stage was set for our 21st century. In 1921, with the help of the Far Eastern Bureau of the Communist Party of the Soviet Union, the Chinese Communist Party held the First National Congress. In 1922, Soviet Russia, along with Soviet Ukraine, Soviet Belarus, and the Transcaucasian SFSR signed the “Treaty on the Creation of the USSR,” officially merging all four republics to form the Soviet Union as a country. But from the end of World War II, China was a nobody, not even a bitplayer on the world stage. That all changed in 1972 when the United States created the China we see today and the “Unholy Trinity” of geopolitics. Richard Nixon went to China with Henry Kissinger’s global strategy. All Nixon had to do was publicly embrace Mao Zedong to change the world. The USSR could not tolerate a US-PRC alliance. By 1976 at least 45 Soviet tanks and motor rifle divisions were deployed towards Beijing, thousands of miles from Nato’s frontline in Germany. On one hand the US is still sick with the “Russophobia” virus and the confrontation in Eastern Europe and Ukraine is a symptom of the disease. Since 1922, demonizing Russia is an easy sell. It is much worse than simply holding a grudge for Stalin not appreciating the US help that saved Russia from Nazi Germany. In international politics, most crimes are forgivable. Even those perpetrated by the Nazis do not figure in US relations with the Federal Republic of Germany. Nor, as it turns out, does the US hold Ukraine’s collaboration with Hitler against it. The US cannot handle the immense increase in Russia’s power and influence when in 1991, Russia was a nobody and now can set the global narrative. And the fact that Putin is ex-KGB makes it even more intolerable. China, on the other hand, is showing itself to often be a clown show politically and economically. Xi Jinping could have been the effective “Emperor of Asia.” But he cannot stop fighting with India. Just when Japan was sliding into neutralism, China absurdly decides it owns the Senkaku Islands and begins a determined attack on all things Japanese. Likewise, the Chinese actual and attempted takeover of the regional waters has resurrected the long dormant “Quad Alliance” of Australia, India, Japan, and the US. In 2008, Indian Prime Minister Manmohan Singh declared that “India is not part of any so-called contain China effort” when asked about Quad. As Xi Jinping maneuvers to keep control of China with a third term at the CCP National Congress in October, the economy gets more fragile every day. Biden cannot take Xi down, but pork prices might. While Biden pushes for war over Ukraine, Putin holds all the cards. The Russian economy can survive sanctions. Germany freezes this coming winter without Russian natural gas. Back in Washington D.C., Biden has a net approval rating of minus 12 and 64 percent of Americans think the country is headed in the wrong direction. On November 8, the US elects all their congressional representatives and one-third of their Senate. 2022 is going to be interesting for “The Unholy Trinity.”

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‘The Journey Continues’: An invitation Atty. Jose Ferdinand M. Rojas II

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oday, February 21, my sixth solo show (“The Journey Continues”) opens at ArtistSpace in Makati. The formal reception is happening tomorrow, the 22nd, at 4:00 p.m. The exhibit will run until March 6, 2022. It is my pleasure to invite you, my dear readers, to view this art exhibit organized by Pintô Art Museum and supported by the Saturday Group.

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time to view the show anytime before it ends, or to attend the formal reception tomorrow. ArtistSpace is on the ground floor of the Ayala Museum Annex, Makati Avenue corner De La Rosa in Makati City. The gallery is open daily from 11:00 a.m. to 8:00 p.m. For details on the exhibit, please contact Ms. Jenny Villanueva at +632 8697 1015 or pintoartmuseum@yahoo.com, and for information about ArtistSpace, you may call +63

AS we very slowly ease back into a semblance of our old lives, we see a handful of live music shows and performances happening here and there, and also a few art shows and art events in various physical spaces. It would be great to support these endeavors to help the art world recover, including of course the artists and organizers, and to participate in the country’s celebration of the National Arts Month (NAM) this February. We must do this with care as we prioritize our own health and

The SSS Housing Loan Restructuring and Penalty Condonation Program

✝ Ambassador Antonio L. Cabangon Chua

T. Anthony C. Cabangon

917 862 4425 or send an e-mail to hello@artistspace.org.ph nnn

The art show is special because ArtistSpace, one of the leading art exhibition spaces in the Makati area, is re-opening with “The Journey Continues” after being closed for two years because of the pandemic. Aside from that, I am also presenting in this exhibit some of the pieces that I worked on during the pandemic. There are fatherdaughter sculptures and my homage to Lady Godiva, among other artworks. I hope you can find the

BusinessMirror A broader look at today’s business Publisher

As we very slowly ease back into a semblance of our old lives, we see a handful of live music shows and performances happening here and there, and also a few art shows and art events in various physical spaces. It would be great to support these endeavors to help the art world recover, including of course the artists and organizers, and to participate in the country’s celebration of the National Arts Month this February.

ince 1958, Social Security System has been providing financial support to its members in acquiring their dream houses through the SSS Housing Loan Program.

Given the current pandemic situation, it is understandable that some of our SSS members were greatly affected in terms of their employment status as well as their paying capacity, which resulted to housing loan payment delinquencies. For this reason, SSS has launched the Housing Loan Restructuring and Penalty Condonation Program (HLRPCP) on November 22, 2021 under its Pandemic Relief and Restructuring Program or PRRP 4 to help delinquent housing loan borrowers, their legal heirs, or designated successor/s-in-interest by waiving the penalties on their past due housing loans. Past due means that the housing loan is delinquent for a period of at least six months as of the filing date of application within the condonation period. I am glad to share the good news to our delinquent housing loan borrowers that the application period for the HLRPCP has been extended from

February 22, 2022 to May 21, 2022 to give them more time to prepare and submit their applications. Moreover, the eligibility requirements for successor-in-interest and legal heir applicants have been relaxed to allow inactive or non-SSS member successor-in-interest and legal heir applicants to apply to HLRPCP and avail themselves of the Condonation without Loan Restructuring/Onetime Payment Term only. Just to give a recap, the housing loan programs covered under HLRPCP are Direct Individual Housing Loan including duplex housing loan accounts, and Direct Housing Loan Facility for OFWs/TUMs as well as the Direct House Repair and Improvement Loan Program, with borrowers eligible for condonation with or without restructuring. Under the HLRPCP, eligible applicants for PRRP 4 are all housing loan borrowers or successor/s-in-interest (who have assumed the original

mortgage as shown in their supporting documents) or legal heir/s with past due housing loan obligations. In case the borrower is already deceased, his/her legal heirs should have settled the property through judicial or extrajudicial process. Successor-in-interest and legal heir applicants should be SSS member/s with at least 12 continuous contributions prior to application and a total of at least 24 monthly contributions to avail of the Condonation with Loan Restructuring. Otherwise, they shall be eligible for Condonation Without Restructuring only. Condonation of penalty may be availed of either with or without the restructuring scheme. Housing loan borrowers or their duly designated successor/s-in-interest/legal heir/s with past due housing loans and with at least remaining one month of the original or previously restructured housing loan term has the option to avail themselves of the condonation with restructuring. On the other hand, housing loan borrowers, and duly designated successor/s-in-interest/legal heir/s with past due housing loan and whose original or previously restructured term has already expired, or whose property has been foreclosed and undergone sheriff auction sale with SSS as the winning bidder and the Certificate of Sale has not yet been registered may avail themselves of the condonation without restruc-

the well-being of those around us. That being said, we take note of some visual art events happening this month, like the National Commission for Culture and the Arts’ Bagong Biswal 2022, a project of the NCCA’s National Committee on Visual Arts for NAM. Around 30 to 40 artists and artist groups will be streaming free webinars, exhibition walk-throughs, murals, a workshop, and various performances from March 7 to 12. The Cultural Center of the Philippines’ Visual Arts and Museum Division has also launched a campaign to celebrate NAM and to commemorate the 36th anniversary of Edsa People Power this month. “People Power 1986: Where were you? Mga sanaysay mula sa sining biswal” is a social media campaign for the Pasinaya CCP Open House Festival 2022 happening from February 20 to 27. Visual artists are invited to share their firsthand accounts, recollections, and artworks made during and about the 1986 Edsa Revolution. You may visit the CCP’s Facebook page for details on how to join this campaign.

turing only. Under the condonation without restructuring, the applicants have to pay a one-time payment of their outstanding principal, interests, insurance dues and legal expenses either through cash or manager’s check within 90 calendar days from the receipt of the notice of approval of the application. Whereas under the condonation with restructuring, the applicants have to pay 50 percent down payment of the outstanding principal, interests, insurance dues and legal expenses within 90 calendar days from the receipt of the notice of approval of the application. Meanwhile, the remaining 50 percent shall be paid within 12 monthly equal installments. The first monthly amortization shall start on the month following the date when SSS received the applicant’s 50 percent down payment. For example, if the applicant settled his/her 50 percent down payment in February 2022, the first monthly amortization shall start in March 2022. In the succeeding months, the payment should be made on or before the 10th day of the month following the applicable month. Amount for installment under condonation with restructuring has an interest rate of 6 percent per annum, which shall be fixed for the entire loan term. However, any unpaid monthly amortization after the due date shall incur a 1 percent See “SSS,” A9

Opinion BusinessMirror

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Game-changing initiative I am ‘write’ behind you in the accounting profession Siegfred Bueno Mison, Esq.

THE PATRIOT

Joel L. Tan-Torres

DEBIT CREDIT Part four

S I discussed in my previous columns, there were a number of oppositions to the Board of Accountancy Resolution 3-2016 on compilation services. It was not only the Department of Finance that was against it. I sensed early in the implementation of the resolution that a certain Security Exchange Commission official was actively, but discretely, lobbying with the DOF for its intervention in the withdrawal of BOA Resolution 03-2016. This informal engagement is also known as backroom or back-channel negotiations and discussions. The SEC official took advantage of the physical proximity of the SEC to the DOF (both held offices in the Philippine International Convention Center and Bangko Sentral ng Pilipinas complex) and SEC’s close organizational relationship with DOF, it being an agency under the DOF. As such my efforts in countering the negative backroom discussions of this SEC official with the DOF were no match to the efforts of said person. In the end, the DOF was “brainwashed” to pursue its opposition to the BOA measure. This is an important lesson in bureaucratic and political engagements where informal backroom transactions are important to discuss sensitive matters with the decision-makers. We have come to know of the past efforts of President Noynoy Aquino and Senator Antonio Trillanes in conducting backroom negotiations with China over disputed territories in the West Philippine Sea. The BOA Resolution 03-2016 was implemented from January 2016 to July 2019. It is to be noted that I was replaced as chairman of the BOA in August 2018, after the lapse of my extended term of appointment. A new chairman, Dr. Noe Quiñanola, and much earlier, three new members of the BOA were appointed, replacing four of the BOA members (including myself) who issued BOA Resolution 03-2016 in January 2016. In the special meeting of BOA on March 6, 2019, it arrived at a consensus to revisit the Compilation Services requirement, taking into account the views of the other regulatory agencies, practitioners, and the industry. It was represented by BOA that there were several consultative meetings held in various parts of the country with stakeholders to solicit the Compilation services requirement. Thereafter, on July 18, 2019, BOA Resolution No. 36-2019 was issued that repealed previous BOA Resolutions relative to its requirements

Thereafter, on July 18, 2019, BOA Resolution No. 36-2019 was issued that repealed previous BOA Resolutions relative to its requirements on the compilation services for the preparation of financial statements and the notes thereto.

SSS . . .

ippine Social Security System-SSS”; Twitter, @PHLSSS; Youtube Channel, MYSSSPH; or join our SSS Viber Community “MYSSSPH Udates”; and visit the USSSap Tayo Portal at crms@sss.gov.ph. Don’t miss the opportunity! Apply now! Have a great day everyone!

continued from A8

penalty per month until fully paid or foreclosed. Further details on the terms and conditions, documentary requirements, and list of HAAMS offices can be viewed at this link https:// bit.ly/33cHHSP. For more details, we advise you to visit the SSS web site at www.sss. gov.ph and follow our official social media accounts. For Facebook, “Phil-

on the compilation services for the preparation of financial statements and the notes thereto. Cited in the resolution were the reasons for the repeal. The Compilation Certificate was perceived to be an unnecessary requirement by some regulatory agencies and other stakeholders. Further, the requirement was deemed contrary to the intent and purpose of Republic Act No. 11032 or the Ease of Doing Business and Government Efficiency Service Delivery Act of 2018, which mandates the adoption of simplified requirements and procedures that will expedite business and nonbusiness related transactions in government. I have my contrary thoughts on this action of the BOA and their reasons for such. To be continued. Joel L. Tan-Torres is the Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy and partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. This column accepts articles for potential publication from the business and academic community. Articles not exceeding 600 words can be e-mailed to jltantorres@up.edu.ph.

Aurora C. Ignacio is SSS president and chief executive officer. We welcome your questions and insights on the topics that we discuss. E-mail mediaaffairs@sss. gov.ph for topics that you might want us to discuss.

elegating the Chinese New Year, Valentine’s Day, and the People Power Anniversary to the background, one may consider this particular month of February to be oddly different due to the mad rush by candidates to secure the much sought-after religious endorsements. The Catholic charismatic group El Shaddai, through its founder Brother Mike Velarde, led the pack of “sprinters” by announcing its support for a particular tandem. Surprisingly though, said endorsement could just be a personal releve from Brother Mike, as the same was quickly touted as an individual and a group’s consensus, per El Shaddai’s spiritual adviser Bishop Teodoro Bacani. While more than 500 Catholic priests, nuns and lay people were reported to have given their backing to Presidentiable Leni Robredo, Kingdom of Jesus Christ leader Apollo Quiboloy declared his 100 percent support for Marcos Jr. and Sara Duterte (BBM-Sara). Meanwhile, Christian groups have reportedly endorsed the Presidential bid of Senator Manny Pacquiao, whereas the Iglesia Ni Cristo (INC), the usually rock solid voting bloc, has yet to publicly endorse a presidential aspirant. Since the so-called Uni-Team of BBM-Sara held its proclamation rally at the INC-owned Philippine Arena in Bulacan, I think it will just be a matter of time when the endorsement comes “in writing.” I still wonder why some men and women of God endorse specific political candidates. I am sometimes perplexed when such church leaders try to influence if not coerce their flock to vote for a particular candidate. In not so certain terms, there have been reports that some religious groups plunge into the endorsement stadium to principally protect their business interests. Some affix their imprimatur on the massively popular candidate for possible concessions in terms of appointments to lucrative government positions. Other leaders that I respect simply provide some general guidelines for their flock to use in choosing a leader, applying the more noble purpose of church

endorsements. The word “endorse” has its origins in endosse or “confirm or approve” (a charter, bill) by signing or writing on the back of the document, and from the Old French endosser, literally to “put on the back.” Thus, when endorsing a cheque, one writes at the back of the instrument. This specific act of “writing at the back” signifies the endorser’s approval of payment in favor of the name indicated on the negotiable instrument. This race to secure endorsements from religious groups, as well from celebrities and influencers, has been much more evident in the past few elections. Every time voters see influencers, whether in church or in government, openly favoring a particular candidate, the tendency is for them to follow the cadence. The purported organizational church discipline translates to a supposed bloc voting which, in turn, equates to an image of statistical strength, enough to woo voters to go one way instead of the other. After all, hardly anyone would want to be on the “losing” side in any election. The INC in particular is vocal about its bloc voting, justifying the same as a mode of fortifying the parishioners’ unity. Candidates therefore are inclined to seek the anointing of a religious group to create a perception of solid support. Evidently, the support of millions of the “voting faithful” from groups like the INC or the Kingdom of Jesus Christ

Monday, February 21, 2022

may actually be just as critical as the candidates’ program of action. However, when leaders “write at the back” of certain candidates, these endorsements do not guarantee electoral success. Studies that looked into the statistical correlation between church endorsements and electoral victory remain inconclusive. A case in point is the INC senatorial backing in the 2016 elections, which translated to only 9 of the 12 endorsees winning. Even its anointing of former Senator Mar Roxas for the 2010 vice presidential post was inconsequential. Depending on circumstances, any church leader’s endorsement could be dubious, if not open to heated arguments. For example, as soon as Brother Mike had publicly endorsed Senator Marcos Jr., doubts were raised inasmuch as believers, including those from El Shaddai, questioned the propriety of endorsing a supposed leader who exhibited behavior deemed inconsistent with the values of a believer. Some were bewildered why a church leader would endorse a candidate who is not repentant and whose family inheritance bespeaks of widespread atrocities, if not anomalies. Yet despite the lack of guarantee and the spiritual divisiveness it creates, a religious group’s endorsement is part of almost all campaign teams’ strategy. Influencers should not hold their followers by the neck (so to speak) when it comes to the right of suffrage. The most they should do is to offer parameters for choosing leaders, or to recommend guideposts in the areas of morality, leadership, and work ethic, among others. When religious leaders, as well as celebrities and influencers, realize that the purpose of “writing at the back” of a candidate is for the sake of their followers, the selfless value of the endorsement becomes more evident. Sadly, history has shown some religious groups walking the opposite path. Flaunting their strength in numbers, some have boldly endorsed popular candidates to boast their voting power instead of advancing the welfare of their flock. I can see the same thing for a few social media influencers—the endorsement is all about themselves

Bloomberg Opinion

fforts to revive Iran’s nuclear agreement with world powers are still bogged down over disagreements despite high-level diplomacy on Saturday, with Germany’s chancellor warning that it’s now or never to save the accord. Negotiations in Vienna to rekindle the 2015 deal—which traded sanctions relief for limits on Iran’s nuclear work—are in their 10th month, with diplomats suggesting

talks should wrap up by the end of February. Energy traders have been closely watching the talks, since an agreement could usher in a return to the world market of supplies from the Persian Gulf nation. Iran holds the world’s second-largest reserves of natural gas and the fourth-biggest oil reserves. “Now is the moment of truth,” German Chancellor Olaf Scholz said at the Munich Security Conference, which was attended by many world leaders and high-level diplomats. “If we do not succeed in

rather than their followers! In a Christian’s walk of faith, one readily finds that Jesus Christ endorsed us to the Heavenly Father by way of a personal sacrifice. He influenced us not for His sake but ours, by “writing” the cross “on our backs” (in our person). Jesus’ PERFECT and FINISHED work at the cross tore the veil between the sinful man and His God, such that God no longer sees our sins. He only sees Jesus and His sacrifice on the cross. All that is required of us is to believe and accept Him as our personal Lord and Savior. The Holy Scriptures tell us that “God made him who had no sin to be sin for us, so that in him we might become the righteousness of God.” (2 Corinthians 5:21). Fortunately, because of the endorsement from Jesus Christ, as manifested on the cross, we have become the righteousness of God in Christ. Romans 3:22 further reminds us that “We are made right with God by placing our faith in Jesus Christ. And this is true for everyone who believes, no matter who we are.” Jesus got our backs as He is right behind us for God’s approval. Such a divine endorsement entailed a personal sacrifice for the welfare of many. In contrast, these “worldly endorsements” of political candidates coming from a few church leaders unfortunately reflect less sacrifice for the interest of their followers and more for the advancement of their own selfish interests. When any of these religious endorsements point the faithful to Jesus and what He represents—humility, selfless service, honesty, advocating for the weak, seeking God’s wisdom, loving to the least, the last and the lost—then the act of endorsing a candidate will be less solecism and more meaningful. A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.

When Comelec becomes the complainant, prosecutor and judge rolled into one–‘anong laban natin d’yan’? Note: Veteran election lawyer Romulo B. Macalintal on Saturday continued to weigh in on the Comelec’s controversial enforcement of its drive against oversized campaign materials in private property. He warned of a scenario where, in its drive against oversized campaign materials, Comelec is rolled into three roles as complainant, prosecutor and judge. By Romulo B. Macalintal

F Commission on Elections intends to file a case against these non-candidates who posted oversized campaign materials on their own premises, who will act as the “complainant”? For sure, the complainant will be the Comelec.

The next question then is: Who will act as the “prosecutor” or who will conduct the investigation of the case? Again, the answer is the Comelec, through its Law Department. And finally, who will be the judge? Of course, the answer is the Comelec En Banc based on the recommenda-

tion of its Law Department. In other words, the Comelec will act as the complainant, the prosecutor and the judge rolled into one. Ano pang laban natin d’yan? If that happens, that will obviously be a blatant violation of the constitution, as the alleged violators would be denied of their constitu-

tional right to a fair and impartial trial and due process. The Comelec should be reminded that in many instances, the Supreme Court (SC) “has repeatedly and consistently demanded the ‘cold neutrality of an impartial judge’ as the indispensable imperative of due process. To bolster that requirement, we have held that the judge must not only be impartial but must also appear to be impartial as an added assurance to the parties that his decision will be just.” (Bilbao vs People of the Philippines, 2015 case). So, what fighting chance would these alleged violators of campaign rules have in the face of such an absurd situation where the Comelec would certainly not allow itself to be defeated in the cases they filed against these alleged violators. There really is something wrong

Iran nuclear deal disagreements spur ‘moment of truth’ in Munich By Jonathan Tirone

this very soon, the negotiations risk failing.” Iran’s Foreign Minister Hossein Amirabdollahian also attended the talks, meeting with European counterparts and United Nations Secretary General Antonio Guterres. He urged Western parties to the negotiations to stop playing “double games” over the text and terms of a revived accord. “We are ready to achieve a good deal at the earliest possible time if the other side makes the needed political decisions,” Amirabdollahian said. “The ball is in their court.”

Parties to the accord abandoned by the US nearly four years ago had signaled a growing optimism that an agreement could be reached—a mood reflected by oil markets. Yet it’s clear that major differences remain on what’s required to roll back Iranian nuclear advances, which have allowed it to enrich uranium closer to weapons grade. Amirabdollahian said his negotiators are still demanding legal, political and economic guarantees that the US won’t again scupper the accord, as then-President Donald Trump did in 2018. It’s up to the

other side to show flexibility and build goodwill, including through the release of some $10 billion of Iranian funds frozen by US sanctions, he said. Iran’s President Ebrahim Raisi similarly stressed the importance of guarantees on Saturday. “A ny agreement in Vienna should include the removal of sanctions, credible guarantees, and an end to political issues and claims,” he said after a phone call with French counterpart Emmanuel Macron. In the absence of an agreement,

in Comelec’s handling of these campaign rules issue. Thus, the imperative need for Comelec to suspend, in the meantime, the implementation of its campaign rules now that it is “reviewing its regulations on campaign posters after drawing flak over its ‘Oplan Baklas’ operations.” To review its rules now is indeed a welcome development considering that the campaign period for local candidates will start on March 25 where more complaints and confusion might arise if such regulations are not fully clarified. It would be advisable for the Comelec to temporarily stop implementing its controversial regulation while reviewing said rules so that it could have a uniform standard and policy for both national and local candidates.

Iran has reduced international monitoring of its atomic program, even as its engineers have raced forward in their production of advanced uranium-enrichment technologies and nuclear fuel. Those advances mean that the terms of the original accord, known as the JCPOA, could soon become obsolete, according to Scholz. “We’ve come far in the negotiations in Vienna in the last 10 months” but “the point will soon be reached when we must decide whether a return to the JCPOA is still reasonable,” Scholz said.

A10 Monday, February 21, 2022

DTI ‘confident’ of EU GSP+ retention amid HR concerns T By Tyrone Jasper C. Piad @Tyronepiad

HE Department of Trade and Industry (DTI) is optimistic that the Philippines will retain its market access and trade incentives with the European Union (EU) despite the economic bloc’s recent resolution concerning the country’s human rights situation, a factor that may potentially affect their trading relationship. Trade Secretary Ramon Lopez told reporters over the weekend they are “confident” the Philippines will not lose its special incentive trade arrangement or the Generalized System of Preferences Plus (GSP+) with the EU. “We provide the data. And policies and programs that ensure there’s compliance with the protocols and rules of engagement,” Lopez said. The GSP+ provides zero duties on 6,274 products or 66 percent of all EU tariff lines. Among the local products where tariffs are eliminated upon entering the EU are tuna, pineapple, bicycles, textiles and garments and footwear. The DTI chief stressed that the Philippines has a dialogue mechanism with the EU to address issues and concerns that can impact their

trading partnership. Lopez said the country has been cooperating with the EU and addressing “repeatedly” such concerns via dialogue mechanisms. In fact, he said, the country is compliant with the 27 international core conventions on human rights, labor, environment and good governance.

EU Parliament reso

LOPEZ made the statement after the EU warned that the Philippines may lose its trading privileges and market access with the economic bloc under the GSP+ if it will not address the human rights abuses. The European Parliament asked “to set clear, public, time-bound benchmarks for the Philippines to comply with its human rights obligations” under the GSP+, according

to its recent resolution. “The allegations are not new, and the Philippine government has always responded and been giving submissions to facilitate the EU GSP plus monitoring to show the country’s compliance with the 27 international core conventions on human rights, labor, environment and good governance,” Lopez said. In addition, Lopez said the allegations on “human rights and lack of press freedom are fake news, and those only give false impressions on the real situation in the Philippines.” This, despite the issues surrounding the extrajudicial killings from the government’s “drug war,” and the red-tagging of activists and journalists, among others. “It is unfortunate that the politicians of a huge economic bloc is the one destroying the image of small democratic country of peace-loving Filipinos, and it is like bullying a small country,” Lopez added. The trade chief noted that the Philippines’s trading perks with the EU have helped local industries, especially the marginalized sectors. “To date, the Philippines still enjoys EU GSP plus preferences, and this actually redounds to the benefit not only of the investors but the marginalized sectors of the

economy, the fisherfolks, farmers, MSMEs [micro, small and medium enterprises], the workers in the value chain of the exporters, precisely fulfilling the objectives of the GSP plus, which is to help address poverty and inequality,” Lopez said. “Our partnership becomes more relevant as we work towards post pandemic recovery. The EU GSP plus would be instrumental in encouraging investments in the country as well as sustaining job generation,” he added. Assistant Secretary Allan B. Gepty, meanwhile, said that they are open to working with the economic bloc to address the matter. Gepty added this was not “the first time that the European Parliament approved such kind of resolutions” as it raised the same concerns in 2016, 2017, 2018 and 2020. In 2020, the GSP+ utilization rate rose to 75 percent—an all-time high—from 71.9 percent the year before. This represents €1.61 billion worth of exports to the EU that were granted such trading perks. Total Philippine exports to the EU, however, slowed down to €6.2 billion in 2020 from €7.63 billion in 2019. The Philippines has been enjoying GSP+ perks since 2014.

DENR OIC TO ‘MAKE THE MOST’ OF 4 MONTHS AS CIMATU EXITS

ITH the resignation of Environment Secretary Roy A. Cimatu for health reasons, Undersecretary Jim Sampulna, who takes over as officer-in-charge, vowed to make the most of the next four months. “I will be serving as OIC in the next four months. It will be a tough job but I plan to make the most of that remaining four months,” he said, adding that he was surprised by Malacañang’s designation of him as DENR OIC. Sampulna will reach the mandatory age of 65 on June 2, or a good 28 days before the June 30 turnover from the present administration to the next. While four months will not be enough time to make the changes he has in mind for the DENR, he said it will be enough to make a meaningful change “for the next,” like preparing everything for the DENR chief. Sampulna said he plans to review the organizational structure of the DENR and make some changes. “I want to make sure that the employees who receive their salary from the taxes paid by the people are deserving,” he said.

Surprised

“I WAS quite surprised,” Sampulna

toldtheBusinessMirror. “Iwasn’t really expecting this,” he said. Sampulna admitted that even him was surprised by the decision of his predecessor to resign. “I really didn’t expect him to resign. He has done a lot in the DENR,” he said. Sampulna said that Cimatu never gave any indication to any one in the agency that he is ailing. “Maybe because of his background as a soldier, that you won’t really notice he is sick,” Sampulna said in a mix of English and Filipino. The last time they talked, however, the DENR chief confided he is “tired.” “Maybe because he was affected by the demise of his wife. You know, he loves her very much,” he said. Sampulna, a forester who joined the then Forestry Bureau in 1977, got his appointment as regular employee under then DENR Secretary Teodoro Q. Peña during the term of President Ferdinand E. Marcos.

Prayer for Cimatu

E N V I RON M E N TA L g roup Greenpeace Philippines expressed surprise at Cimatu’s resignation. See “DENR,” A2

ENVOYS GATHER Norway’s top envoy to the Philippines, Ambassador Bjorn Jahnsen and his wife, hosted dinner at his residence over the weekend for several members of the diplomatic row in Manila. The attendees conveyed felicitations to Foreign Affairs Secretary Teodoro L. Locsin Jr. who is attending the foreign ministers meeting in Cambodia. In photo are: Back row, L-R: John G. Tan; D. Edgard A. Cabangon, chairman of BusinessMirror where Locsin has a column; Honorary Consul of Costa Rica Fausto Preysler; Ambassador of Brazil Antonio de Souza e Silva; Ambassador of Mexico Gerardo Lozano; Norway’s Ambassador Jahnsen; Ambassador of Morocco Rida El Fassi; Ambassador of Korea Kim Inchul; Front row, L-R: Nancy G. Tan, Anne Miren Aboitiz-Preysler, Gisela Pinto Zincone, Monia El Fassi, Sandra Jahnsen and Sharon G. Tan. CONTRIBUTED PHOTO

Despite being under Nagkaisa group, TUCP backs UniTeam By Samuel P. Medenilla @sam_medenilla

HE country’s largest labor union said it will back presidential candidate Ferdinand “Bongbong” R. Marcos Jr. and his running mate Sara Duterte-Carpio in the 2022 National and Local Elections (NLE). In a statement on Sunday, the Trade Union Congress of the Philippines (TUCP) decided to endorse the BBM-Sara tandem after it conducted its nationwide consultation with its members. It opted to go by its members’ wishes, despite its membership in the Nagkaisa labor coalition backing the candidacy of Vice President Leni Robredo.

“The vote advantage of Mr. Marcos and Ms. Duterte-Carpio and with those four other pairs of presidential and vice presidential aspirants was very wide. It was an overwhelmingly majority decision in all caucuses held differently in Luzon, Visayas and Mindanao,” Alan Tanjusay, TUCP spokesperson said. TUCP currently has about 1.2 million members nationwide, including those in the formal and informal sector. When asked about the criteria they used for the selection process, Tanjusay said they asked their members “who can best lead the country” after the current administration. TUCP President Raymond C.

Mendoza will formally endorse Marcos and Carpio this week together with the senatorial candidates they will also support. TUCP made the decision despite being a member of the Nagkaisa labor coalition, which is currently backing the presidential bid of Vice President Leonor “Leni” G. Robredo. Nagkaisa members include the Sentro ng mga Nagkakaisa at Progresibong Manggagawa (SENTRO), Federation of Free Workers (FFW), and Partido Manggagawa (PM). Meanwhile, Bukluran ng Manggagawang Pilipino (BMP) and other members of the PAGGAWA coalition are supporting the presidential candidacy of its chairperson, Leodegario “Leody” Q. De Guzman.

Companies

Editor: Jennifer A. Ng

Monday, February 21, 2022

Genting HK’s collapse sinks domestic cruise plans in PHL By Ma. Stella F. Arnaldo |

@akosistellaBM Special to the BusinessMirror

HE upending of Genting Hong Kong has affected its planned domestic cruise program in the Philippines in partnership with the Department of Tourism (DOT). Tourism Secretary Bernadette Romulo Puyat disclosed to the BusinessMirror that the planned cruises were under DOT’s Soul Circuit and Beyond Program. Genting Cruise Lines (GCL) would have used its MV Superstar Aquarius for the run starting March 28. GCL’s cruises were proposed to sail from Manila to Boracay, ManilaIloilo-Sicogon-Boracay, Manila-El Nido-Coron, Manila-Subic-Salomague (Ilocos Sur), and Manila-IloiloGuimaras. Quoting a memo from her staff on February 9, Romulo Puyat said, “GCL is currently exploring the state of their business in the region including cruise operations, to identify, examine and explore options to return back to operation. They are still maintaining their subsidiaries, including Resorts World Manila. As

such, it was requested that the above proposed inaugural run (March 28) will be postponed to a later date.” A pioneer in Asia’s cruise industry, Genting HK has filed for bankruptcy and key officials have stepped down. Two of its ships were recently seized by the US District Court for unpaid fuel bills. Genting also operates Dream Cruises and Crystal Cruises.

Still sailing to Manila

However, the DOT assures the Philippines is still on the radar of other international cruise lines. Jing Esmaña, head of the agency’s Cruise Team said, “We have scheduled [port] calls for the later part of 2022. These are international calls by different cruise lines.” She added, as of February 15, most of these scheduled cruises are onboard “vessels of Silversea, Ocea-

nia Cruises, Windstar, Celebrity and Norwegian Cruise Lines, scheduled for the later part of 2022 to 2024.” Scheduled port calls this year include MV Blue Dream Star in Subic (weekly from May to June 2022); Celebrity Solstice (Celebrity Cruises) in Manila on December 8, 2022 and Subic on December 9; and Silver Shadow (Silversea Cruises) on December 13-15 in Coron, Manila, and Subic. In 2023, schedule cruise calls are by MS Seven Seas Mariner (Regent Seven Seas) on March 7-9 in Manila, Puerto Princesa, Boracay; Star Breeze (Windstar Cruises) from March 28 to April 2 in Puerto Princesa-Coron-Manila-Hundred Islands-Pangasinan; Silver Muse (Silversea Cruises on April 1721 in Pasacao (Camarines Sur)Legaspi-Romblon-Coron-Manila; Serenade of the Seas (Royal Caribbean Cruise Line) on April 29 in Manila; Silver Whisper (Silversea Cruises) on October 30-November 2 in Manila-Romblon-CoronPuerto Princesa; MS Seven Seas Explorer (Regent Seven Seas) on November 16-18 in Manila-Boracay-Puerto Princesa; Coral Expeditions (from Australia) in October, but with no definite dates and destinations yet. Silver Muse will also call on Coron and Manila on March 22-23, 2024.

Vaxx certificates

As this developed, the DOT welcomed the recent decision of the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) to recognize the Covid-19 vaccine certificates of 12 more countries, and whose fully vaccinated citizens are allowed to travel to the Philippines. IATF Resolution No. 162 added the national/state vaccination certificates of Argentina, Brunei Darussalam, Cambodia, Chile, Denmark, Ecuador, Indonesia, Myanmar, Papua New Guinea, Peru, Portugal, and Spain, which are among the 157 countries whose citizens don’t need visas to travel to the Philippines. In a news statement, Romulo Puyat said, “The DOT commits to working with other member agencies of the IATF in making the travel process and requirements to the country easier for balikbayans and foreign tourists alike. This move will greatly help in restoring jobs under the heavily impacted tourism industry.” The Philippines and Singapore has also agreed on a Vaccinated Travel Lane to speed up the arrivals from the city state. The list of countries whose national vaccination certificates are recognized by the Philippines can be found here https://bit.ly/34UEmZB.

Fruitas unit files for ₧309-M IPO By VG Cabuag @villygc

alai Ni Fruitas Inc., a unit of food and beverage kiosks operator Fruitas Holdings Inc., has filed paperwork for its P309million initial public offering (IPO), the proceeds of which will be used to expand the company’s operations. In the registration statement it submitted to the Securities and Exchange Commission, the company offer is composed of 325 million in primary common shares, 50 million in secondary common shares and an over-allotment option of 37.5 million shares at an indicative price of P0.75 apiece. The company engaged First Metro Investment Corp. as the issue man-

‘AllDay foot traffic up 28% in Q4’

rocery chain operator A llDay Marts Inc. said foot traffic in its establishments rose 28 percent during the fourth quarter of 2021 from the previous year. The company said the grocery chain is historically 40 percent to 50 percent more profitable in the last quarter of the year compared with the third quarter. AllDay attributed the uptick in customer traffic to the peak season. “AllDay’s fourth quarter store performance, particularly store footfall, is an indication of the quickening pace of the country’s return to normal, as well as continued validation of our unique supermarket concept and experience,” Manuel B. Villar Jr., the company’s chairman said. “We are seeing consumers regain their confidence to again frequent our stores and the unique experiences they offer—a distinct and key advantage of AllDay Supermarket.” VG Cabuag

ager, bookrunner and underwriter for the deal. The company will not receive any proceeds from the sale of shares by the selling shareholder, estimated at about P65.6 million. Majority of the proceeds of the primary offer of about P220 million will be used for store network of about P180.4 million, and P20 million each will be allocated for commissary set-up and funds for acquisition. The expansion of its network is geared towards the opening of 120 new owned stores until the end of 2023. “Vast majority of the stores to be opened from 2022-2023 are anticipated to carry the Balai Pandesal brand. Moreover, the company also

expects to expand the footprint of its other existing brands and future acquisitions which will depend on, among others, market opportunities and commercial considerations,” the company said. “In order to accelerate expansion, the company intends to allocate approximately 9.1 percent of the net proceeds to acquire other baked goods businesses in the Philippines. The company’s potential target acquisitions will be geared towards broadening its baked goods product offering and/or adding sales channels. The company is still in the early stages of evaluating these options and there are no definitive agreements signed.” The company is targeting to list on the Philippine Stock Exchange’s

small, medium and emerging board by next month. “We evaluated several capitalraising options to fund the next phase of growth of Balai. Given the significant growth prospects of the bakery sector, distinct from the kiosks within Fruitas Holdings, we decided to undertake an IPO for BALAI. This will provide Balai its own resources to take advantage of the opportunities presented to it,” Lester Yu, Balai and Fruitas president and CEO, said. He said the Balai IPO will also be beneficial for Fruitas Holdings shareholders as it will unlock the value of Balai. Fruitas will also remain as the controlling shareholder of Balai and continue to benefit from profits from the bakery operator.

Top losers were Kepwealth Property Phils. Inc., Keppel Philippines Holdings Inc. B, Citystate Savings Bank Inc., Monde Nissin Corp., Emperador Inc., Ferronoux Holdings Inc. and Merrymart Consumer Corp.

“Local equities may likely benefit from yield drops in competing fixed-income securities.” Immediate support for the main index is seen at 7,300 points and resistance of up to 7,550 points.

This week

Stock picks

STOCK-MARKET OUTLOOK Last week

Share prices bounced back last week, with the main index climbing to the 7,400-point level after investors took advantage of the market’s weakness. The benchmark Philippine Stock Exchange index rose 148.43 points to close at 7,418.79 points. The main index made significant gains on Monday and Wednesday trading, enough for it to end the week on a positive note. Average volume of trade for the week reached P7.38 billion, with foreign investors accounting for 42 percent of the trades but they were net sellers at P1.42 billion. All other sub-indices closed higher with the exception of the Industrial index that shed 60.34 points to close at 10,525.20 points. The broader All Shares index gained 51.56 to 3,923.69, the Financials index rose 16.35 to 1,731.90, the Holding Firms index added 206.12 to 7,050.43, the Property index climbed 106.38 to 3,503.45, the Services index was up 38.33 to 1,946.51 and the Mining and Oil index surged 561.45 to 11,512.85. For the week, gainers led losers 130 to 91 and 30 shares were unchanged. Top gainers for the week were Philippine Realty and Holdings Corp., Premiere Horizon Alliance Corp., Lepanto Consolidated Mining Co. A and B shares, Bloomberry Resorts Corp., Oriental Peninsula Resources Group Inc., Philweb Corp. and Manila Mining Corp. B.

Share prices may again rise this week as the main index will retest the 7,500-point level, with more investors taking their positions during the reporting season. Listed companies are starting to announce their 2021 financial performance and will go full blast during the next two weeks. Broker 2TradeAsia said this will prop up confidence for the industries that have seasonality on their side, such as consumer-related, banking and leisure and tourism. It, however, advised investors to brace for some degree of volatility on the trades. “The silver-lining, outside of the apparent viability of short-term bargain hunting, is the market’s technical bias towards 8,000 points.” The broker said there is a possibility that the index will hit this level, as expectations for the key rate hike of the Bangko Sentral ng Pilipinas (BSP), at least for the first semester of the year, are close to zero. The BSP’s monetary policy may not be in step with the United States Federal Reserve, which could make up to six rate increases this year.

Broker Regina Capital Development Corp. advised to sell on rallies on the stock of Metro Pacific Investment Corp. (MPI) as its bearish share price since January is seen weakening. Its technical readings showed that the stock is poised to a buy signal should the rally continue. “The surge in buying pressure immediately filled the gap between buyers and sellers. MPI might retest its new resistance at P3.90 before going on correction,” it said. Metro Pacific shares closed Friday at P3.86 apiece. Meanwhile, the broker advised to trade the range on the stock of Universal Robina Corp. (URC) as its technical indicators showed indecisive buyers and sellers as it closed at its opening price of P127.50 on Thursday’s trade. “Indicators are on a buy signal as the buying pressure finally picked up after a week-long decline. Selling pressure is still heading down coupled with an increasing momentum. A breakout looks possible eventually should the increasing momentum be sustained.” URC shares closed last week at P126.60 apiece. VG Cabuag

Isuzu Makati sales exec, Sto. Tomas, Batangas branch win in DOYA 2021 L ongtime Isuzu Gencars Makati sales executive Elenita Go was named 2021 Sales Executive of the Year by Isuzu Philippines Corp. (IPC) during their 17th Dealer of the Year Awards held virtually last February 11. Isuzu Batangas, on the other hand, won 3rd Place in the Excellence in Parts Operations category. In a statement, Isuzu Gencars president Lerma O. Nacnac commended Go and the whole Isuzu Sto. Tomas team for their achievements. According to her, Ms. Go is on her 25th year as a valuable sales executive in Isuzu Gencars, and has consistently demonstrated reliability and competency in her job. “Congratulations to Ms. Go and to the men and women of Isuzu Sto. Tomas! All your hard work have paid off. Thank you for bringing honor to the whole Gencars family with your recent

Elenita Go

wins,” she said. Isuzu Gencars chairman and chief executive officer D. Edgard A. Cabangon also congratulated the winners on their achievements. “The recognitions that you received from the IPC prove that you share the same value of dedicated service with the company. Congratulations on your well-deserved awards, and keep up the good work,” he said.

Companies BusinessMirror

Monday, February 21, 2022

SC upholds ERC decision to refund INEC customers

By Lenie Lectura

@llectura

he Supreme Court (SC) affirmed a 2011 decision of the Energy Regulatory Commission (ERC) which directed Ilocos Norte Electric Cooperative Inc. (INEC) to refund P480 million to its customers.

In a 21-page decision released last February 3, the SC upheld the ERC decision on INEC’s application for approval of over/under recoveries. The assailed ERC decision directed INEC to refund to its customers some P480 million representing the over-recoveries in its electric billings for the years 2004 to 2010. INEC sought the ERC’s approval to refund a total over-recovery of

some P8 million covering the years 2004 until 2010. Upon evaluation, however, the ERC computed an over-recovery in the amount of P480 million. Upon ERC’s denial of its motion for reconsideration, INEC filed a petition for review before the Court of Appeals (CA). The CA, however affirmed ERC’s decision and denied INEC’s petition for review. Thus, INEC elevated the matter to the SC

with a petition for review on certiorari to which the SC ruled and affirmed the ERC and CA’s respective decisions. “The Supreme Court’s Decision is not only a victory for ERC, but more importantly a victory for the consumers. This shows that our regulatory policies have the consumers’ welfare in mind--that is to protect their interests by ensuring that what was charged and collected from them are but reasonable and accurate rates,” ERC Chairperson and CEO Agnes VST Devanadera said. The SC argued, among others, that findings of administrative or regulatory agencies on matters within their technical area of expertise are generally accorded not only respect but finality as such findings are supported by substantial evidence. Furthermore, the SC said the CA has correctly ruled that INEC can-

not demand the ERC to “intricately explain” its decision as long as it had sufficiently shown the bases and formulae used for computing the over-recoveries and provided INEC with ample opportunity to raise its objections thereto. “Once again, the ERC’s regulatory policies have been proven to be robust, legally-defensible, and consumer-oriented. We will always adhere to our mandate of protecting all consumers and promote public welfare as they are affected by the rates and services of Distribution Utilities and other providers of electric power, and that is consumer empowerment,” Devanadera said. ERC’s computation was based on the Formulae on the Various Automatic Cost Adjustments and Trueup Mechanisms and Corresponding Confirmation Process Pursuant to ERC Resolution No. 16, Series of 2009, as Amended by Resolution No 24, Series of 2010.

PSE STOCK QUOTATIONS

mutual funds

February 18, 2022

NAV

One Year Three Year Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

237.35

7.27%

-3.53%

-1.32%

1.83%

ATRAM Alpha Opportunity Fund, Inc. -a

1.5828

19.42%

-0.02%

2.55%

-4.89%

7.8%

-7.27%

-4.01%

1.69%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7649 -1.37%

-6.68% n.a.

1.11%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7583 7.55%

-4.28% n.a.

-1.63%

First Metro Save and Learn Equity Fund,Inc. -a

10.12%

-1.35%

0.59%

2.12%

First Metro Save and Learn Philippine Index Fund, Inc. -a

0.7958

11.27%

-3.18%

-2.83%

MBG Equity Investment Fund, Inc. -a

93.07

-7.88%

-8.71% n.a.

-1.44%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.2926

BusinessMirror file photo

he Light Rail Transit Authority (LRTA) is transforming select stations of the LRT Line 2 as vaccination sites to encourage the unvaccinated to get the Covid-19 jab. In partnership with the local government of Manila and Antipolo, the LRTA will provide first doses and booster shots to commuters at Recto station every Tuesday and Thursday and at Antipolo Station every Wednesday and Friday. All eligible individuals can get vaccinated by registering with ma ni l acov id19 vacc ine.ph for Recto station vaccination and

antipolobantaycovid.appcase.net for Antipolo. “Through the indispensable assistance of the City Governments of Manila and Antipolo, we are making Covid-19 vaccines easily available, accessible and convenient to the riding public,” LRTA Administrator Jeremy Regino said. The LRTA’s move is in line with Transportation Secretary Arthur Tugade’s order to use railway stations as vaccination sites to ramp up the vaccination campaign. “We encourage our commuters and their family members to get booster jabs for added protection as well as those who have no vaccines yet to avail of our vaccination drive,” Regino added. He assured commuters that the vaccination sites in Recto and Antipolo stations are in accordance to and compliant with the policies, protocols, and requirements of the Department of Health. Lorenz S. Marasigan

5.2924

PAMI Equity Index Fund, Inc. -a

48.711

6.76%

-2.14%

0.2%

Philam Strategic Growth Fund, Inc. -a

509.71

7.07%

-2.07%

-0.22%

1.8%

Philequity Dividend Yield Fund, Inc. -a

1.3877

21.03%

1.92%

2.52%

2.32%

Philequity Fund, Inc. -a

-1.2%

1.25%

1.84%

37.2671

9.8%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9701

9.5%

Philequity PSE Index Fund Inc. -a

5.0362

7.88%

Philippine Stock Index Fund Corp. -a

839.05

7.43%

Soldivo Strategic Growth Fund, Inc. -a

0.7635

8.47%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.827

8.44%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a United Fund, Inc. -a

3.4914

-2.04% n.a. -1.4%

1.6%

1.21%

3.05%

0.9%

1.52%

-1.46%

0.82%

1.27%

-5.38%

-2.16%

1.45%

-3.63%

-0.5%

1.36%

0.9558

6.95%

-1.79%

0.58%

7.35%

-1.75%

1.37%

1.57%

1.2%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.1997

Philippine Stock Index Fund Corp. -a

13.3% n.a. n.a.

3.18%

1029.89 n.a. n.a. n.a. n.a.

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

113.0298

7.82%

-1.2%

1.31%

1.39%

Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b

$1.1256

Sun Life Prosperity World Voyager Fund, Inc. -a $1.7168

-17.42%

4.3%

4.35%

-0.08%

-5.31%

11.89%

9.57%

-7.02%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a

1.6814

0.88%

-0.73%

-0.45%

-0.63%

ATRAM Philippine Balanced Fund, Inc. -a

2.3012

2.59%

0.04%

0.17%

0.86%

5.84%

1.12%

1.73%

1.36%

First Metro Save and Learn Balanced Fund Inc. -a 2.7277

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2123

9.15% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

3.87%

2.09%

2.0282

2.02%

PAMI Horizon Fund, Inc. -a

3.7894

1.76%

1.52%

0.94%

0.65%

Philam Fund, Inc. -a

16.9745

1.88%

1.15%

0.88%

0.77%

Solidaritas Fund, Inc. -a

2.1455

3.88%

0.08%

0.76%

1.14%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6707 4.24%

-1.19%

0.3%

0.65%

0.3%

0.89%

1.66%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.97

10.68%

1.58%

0.57%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a

0.9798

-2.48%

-0.32% n.a.

-1.01%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.9471

2.07%

-1.28% n.a.

0.28%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

0.938

2.99%

-1.57% n.a.

0.44%

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a

$0.03589

-7.02%

0.2%

0.36%

-5.4%

$1.0719

-11.57%

3.15%

2.99%

0.45%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.5331 -5.46%

8.33%

6.99%

-5.6%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1444 -5.59%

3.92%

3.26%

-4.52%

PAMI Asia Balanced Fund, Inc. -b

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a

374.08

0.63%

2.69%

2.47%

-0.06%

ATRAM Corporate Bond Fund, Inc. -a

1.8864

-0.99%

0.45%

0.09%

Cocolife Fixed Income Fund, Inc. -a

3.2459

0.88%

2.78%

3.77%

0.06%

Ekklesia Mutual Fund Inc. -a

2.2306

-2.78%

1.29%

1.25%

-0.93%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4203 -0.98%

2.8%

1.78%

-0.23%

Philam Bond Fund, Inc. -a

4.3518

-5.87%

3.58%

1.3%

-1%

Philam Managed Income Fund, Inc. -a

1.3218

0.07%

3.69%

2.86%

0.2%

Philequity Peso Bond Fund, Inc. -a

3.9493

-0.49%

3.36%

2.55%

-0.42%

Soldivo Bond Fund, Inc. -a

1.0234

-1.05%

3.99%

-0.47%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1834

-0.54%

3.09%

-0.13%

Sun Life Prosperity GS Fund, Inc. -a

-1.13%

3.16%

2.43%

-0.23%

1.7267

Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a

$487.41

0.65%

2.63%

2.32%

-0.44%

ALFM Euro Bond Fund, Inc. -a

Є217.84

-0.78%

0.53%

0.82%

-0.99%

ATRAM Total Return Dollar Bond Fund, Inc. -b $1.1463

-8.16%

-0.02%

0.68%

-4.78%

0.4%

0.32%

-2.69%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0253 -3.44% PAMI Global Bond Fund, Inc -b

$0.9747

-10.22%

-2.44%

-1.65%

-4.7%

Philam Dollar Bond Fund, Inc. -a

$2.3841

-5.16%

2.41%

1.73%

-4.85%

$0.0615365

-1.61%

2.35%

1.64%

-1.21%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.9988 -5.57%

0.78%

0.48%

-6.18%

Philequity Dollar Income Fund Inc. -a

Money Market Funds Primarily invested in Peso securities (shares) 131.37

0.99%

2.59%

2.54%

First Metro Save and Learn Money Market Fund, Inc. -a

ALFM Money Market Fund, Inc. -a

1.0593

0.97%

1.88% n.a.

0.14%

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3182

1.49%

2.47%

2.52%

0.15%

0.2%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0614

0.71%

1.37% n.a.

0.08%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

46.1132 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3332

10.64% n.a. n.a.

-3.59%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.9298

-6.08% n.a. n.a.

-4.14%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

February 18, 2022

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL IREMIT NTL REINSURANCE PHIL STOCK EXCH

22,400 174,245,283 177,168,660 662,890 6,613,991 197,793,726 9,500 28,241,000 1,820,395 20,568 407,440 152,624,173 997,104 265,090 4,080 2,490 55,100 487,134

18,235,205 -13,390,465 53,100 -3,355,790 -1,795,847.50 -145,165 6,193 14,840 14,350,115 -110,024 -

INDUSTRIAL AC ENERGY 8.83 8.85 8.92 8.92 8.68 8.85 9,578,500 84,471,318 1.01 1.05 1.04 1.05 1.04 1.05 26,000 27,190 ALSONS CONS ABOITIZ POWER 36.05 36.5 36.35 36.5 35.65 36.5 1,289,000 46,573,270 0.52 0.53 0.53 0.54 0.52 0.53 4,464,000 2,362,340 BASIC ENERGY 26.4 26.6 26.6 26.8 26.4 26.4 526,100 13,937,615 FIRST GEN FIRST PHIL HLDG 70.9 71 71 71.2 70.75 71 46,270 3,283,090 360.2 363.6 362 363.6 356.4 363.6 180,900 65,405,972 MERALCO 22.4 22.55 22.65 23 22.4 22.4 615,200 13,877,740 MANILA WATER PETRON 3.38 3.39 3.4 3.42 3.37 3.39 1,217,000 4,125,970 4.17 4.29 4.28 4.29 4.28 4.29 10,000 42,840 PETROENERGY 10.32 10.78 10.06 10.8 10.06 10.8 3,800 39,672 PHX PETROLEUM SYNERGY GRID 12.58 12.6 12.6 12.62 12.56 12.6 1,984,100 24,965,250 19.3 19.54 19.36 19.7 19.24 19.54 372,300 7,200,370 PILIPINAS SHELL SOLAR PH 2.04 2.05 2.09 2.09 2.04 2.05 75,149,000 154,907,240 VIVANT 14.32 16 16 16 16 16 700 11,200 5.05 5.17 5.08 5.17 5.03 5.15 329,800 1,694,654 AGRINURTURE AXELUM 2.81 2.87 2.82 2.87 2.81 2.87 213,000 604,750 CENTURY FOOD 24.55 24.7 24.8 24.8 24.3 24.55 468,500 11,502,300 16.16 16.2 16.04 16.2 15.62 16.16 104,000 1,669,818 DEL MONTE DNL INDUS 8.21 8.24 8.3 8.36 8.18 8.24 2,603,000 21,385,875 EMPERADOR 20.2 20.35 20 20.45 19.9 20.2 3,984,900 80,188,314 68.1 68.6 69 69 68 68.6 32,690 2,243,261.50 SMC FOODANDBEV FIGARO COFFEE 0.8 0.81 0.81 0.83 0.8 0.81 26,039,000 21,212,900 0.6 0.64 0.59 0.63 0.59 0.6 968,000 609,690 ALLIANCE SELECT 1.22 1.23 1.21 1.24 1.2 1.23 9,029,000 11,039,390 FRUITAS HLDG GINEBRA 110 110.8 112.3 112.3 110 110.8 4,180 463,196 246.8 247 251 251.4 245.4 247 530,290 131,291,568 JOLLIBEE 1.42 1.44 1.4 1.44 1.37 1.43 9,237,000 13,096,450 KEEPERS HLDG MACAY HLDG 5.7 6.98 6.65 6.65 6.5 6.5 200 1,315 6.53 6.54 6.59 6.59 6.52 6.54 53,300 348,989 MAXS GROUP 0.155 0.16 0.152 0.16 0.152 0.16 800,000 122,620 MG HLDG MONDE NISSIN 16.06 16.1 16.5 16.5 16.06 16.06 7,429,100 120,235,480 8.62 8.65 8.68 8.7 8.65 8.65 166,500 1,441,791 SHAKEYS PIZZA ROXAS AND CO 0.64 0.65 0.65 0.66 0.65 0.65 1,323,000 859,970 RFM CORP 4.48 4.54 4.53 4.54 4.53 4.54 14,000 63,530 0.102 0.104 0.102 0.102 0.102 0.102 20,000 2,040 SWIFT FOODS UNIV ROBINA 126.5 126.6 127 127.1 126.2 126.6 701,870 88,902,140 VITARICH 0.68 0.69 0.68 0.69 0.68 0.69 155,000 105,530 2.41 2.55 2.41 2.41 2.41 2.41 213,000 513,330 VICTORIAS CONCRETE A 45.4 48.95 46.95 47 46.95 47 2,200 103,390 1.03 1.04 1.04 1.04 1.01 1.03 2,242,000 2,289,830 CEMEX HLDG 13.86 14.18 14.2 14.2 13.8 13.86 52,600 728,756 EAGLE CEMENT EEI CORP 6.1 6.13 6.2 6.21 6.12 6.13 390,700 2,395,175 6.21 6.25 6.24 6.28 6.15 6.28 412,400 2,554,253 HOLCIM 5.45 5.49 5.31 5.45 5.3 5.45 3,022,800 16,446,192 MEGAWIDE PHINMA 20.75 21 20.9 21 20.9 21 13,800 289,215 0.78 0.79 0.78 0.78 0.78 0.78 80,000 62,400 TKC METALS 0.93 0.94 0.94 0.97 0.93 0.93 1,523,000 1,439,590 VULCAN INDL CROWN ASIA 1.74 1.75 1.73 1.74 1.72 1.74 130,000 225,320 5.83 5.96 5.97 5.97 5.97 5.97 6,000 35,820 PRYCE CORP 21.4 22 22 22 22 22 1,100 24,200 CONCEPCION GREENERGY 2.02 2.03 2.1 2.12 1.95 2.03 6,789,000 13,688,790 8.79 8.8 8.8 8.84 8.79 8.8 235,700 2,076,543 INTEGRATED MICR IONICS 0.71 0.73 0.72 0.72 0.72 0.72 10,000 7,200 1.15 1.17 1.15 1.17 1.15 1.17 58,000 67,280 SFA SEMICON 3.87 3.9 4 4.01 3.85 3.9 2,000,000 7,841,650 CIRTEK HLDG

3,022,701 16,198,340 -10,600 3,038,970 -61,205 27,190,184 -1,958,080 65,430 489,604 -5,185,924 187,770.00 58,949 5,620 -230,060 24,230 1,909,938 1,177,114 -1,309,705.50 -51,110 -121,580 10,182 55,885,660 826,260 -273,001 105,590 -23,300,690 -1,288,990 819,020 -10,098,158 4,100 28,400 -1,226,000 507,614 60.0002 45,570 35,820 -24,200 -4,407,890.00 17,600 -397,450

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP WELLEX INDUS ZEUS HLDG

313,000 -52,815 2,306,640 -2,084,509.50 -4,392,958 -8,150 -27,600.00 2,665,630 -540,491 -8,008 15,079,175 45,840 30,039,774 -236,100 -6,209,734 -124,273,130 -17,873,000 846,387 -136,800

HOLDING & FRIMS

LRT stations to serve as vaccination sites

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44.1 134.5 99.35 26.5 9.47 60.3 9.38 17.82 20.4 56.3 21 117 103.7 2.12 3.95 0.79 0.68 222.2

0.89 5.02 856 61.2 12.78 8.16 0.95 0.69 0.69 5.22 8.5 7.15 587.5 3.7 61.3 6.51 0.61 2.96 9.46 3.86 1.18 921 107.8 0.28 0.175

44.8 134.7 99.4 26.6 9.48 60.4 9.5 18.22 20.55 57.5 21.35 117.5 104 2.13 4.05 0.83 0.71 225

0.9 5.79 860 62.15 12.8 8.33 0.96 0.7 0.7 5.23 8.55 7.3 589 3.86 62.15 7.04 0.63 3.01 9.47 3.87 1.19 928 107.9 0.31 0.181

44.8 135.4 100 26.45 9.5 60.2 9.5 18.22 20.5 56.3 21 117.4 105.1 2.15 4.08 0.83 0.7 221

0.89 5.03 858 62 12.9 8.15 0.93 0.7 0.7 5.23 8.52 7.28 571 3.87 61.75 6.98 0.63 2.96 9.47 3.87 1.15 925 109.6 0.305 0.175

44.8 135.4 100 26.6 9.57 60.6 9.5 18.22 20.55 57.5 21.35 117.6 105.1 2.18 4.08 0.83 0.71 225

0.91 5.03 860 62.2 12.9 8.33 0.97 0.71 0.7 5.24 8.59 7.29 589 3.87 62.15 7 0.63 2.96 9.52 3.89 1.23 932 109.6 0.31 0.185

44.8 133 99.3 26.4 9.42 59.65 9.5 18.22 20.2 56.3 21 115.8 103.3 2.13 4.08 0.83 0.68 221

0.88 5.03 850.5 60.5 12.74 8.1 0.93 0.66 0.68 5.21 8.45 7.15 568 3.75 60.45 6.98 0.63 2.95 9.45 3.83 1.15 921 107.8 0.275 0.175

44.8 134.5 99.4 26.6 9.47 60.3 9.5 18.22 20.55 57.5 21.35 117.5 103.7 2.13 4.08 0.83 0.68 225

0.89 5.03 860 61.2 12.8 8.33 0.95 0.7 0.7 5.22 8.5 7.15 589 3.75 62.15 7 0.63 2.95 9.47 3.86 1.19 921 107.9 0.28 0.181

500 1,294,530 1,779,600 25,000 699,000 3,285,430 1,000 1,550,000 89,000 360 19,200 1,304,460 9,610 122,000 1,000 3,000 80,000 2,190

4,729,000 10,500 129,700 1,015,100 1,008,200 140,000 134,000 9,596,000 502,000 2,623,200 2,699,700 4,800 65,510 145,000 821,390 37,000 22,000 320,000 3,111,200 59,340,000 140,000 364,420 170,150 2,210,000 1,760,000

4,239,730 52,815 111,238,875 62,678,713.50 12,906,818 1,142,652 127,360 6,595,550 349,880 13,696,402 22,953,345 34,743 38,236,800 545,160 50,878,092.50 258,980 13,860 946,500 29,468,997 228,893,100 167,480 336,907,195 18,386,708 676,800 313,630

PROPERTY ARTHALAND CORP 0.62 0.63 0.62 0.62 0.61 0.61 17,000 10,420 39.3 39.65 38.5 39.65 37.6 39.65 15,098,100 588,098,195 AYALA LAND AYALA LAND LOG 4.85 4.86 5.03 5.06 4.81 4.85 4,395,100 21,589,059 49.3 49.5 49.85 49.95 49.5 49.5 306,200 15,235,555 AREIT RT 0.92 0.94 0.95 0.95 0.93 0.94 1,030,000 968,300 A BROWN CITYLAND DEVT 0.72 0.74 0.74 0.74 0.74 0.74 1,000 740 0.099 0.102 0.097 0.102 0.095 0.102 7,180,000 690,500 CROWN EQUITIES 2.92 2.93 2.93 2.96 2.91 2.93 144,000 420,560 CEB LANDMASTERS CENTURY PROP 0.42 0.425 0.43 0.43 0.42 0.42 660,000 278,350 10.16 10.24 9.9 10.28 9.46 10.24 1,396,800 14,082,510 DOUBLEDRAGON DDMP RT 1.79 1.8 1.79 1.8 1.79 1.8 1,826,000 3,276,670 DM WENCESLAO 6.91 6.95 6.9 6.92 6.9 6.92 53,400 368,900 0.31 0.315 0.315 0.315 0.305 0.31 6,060,000 1,881,150 EVER GOTESCO FILINVEST RT 7.52 7.53 7.51 7.54 7.5 7.53 3,652,400 27,466,246 FILINVEST LAND 1.1 1.12 1.11 1.12 1.1 1.12 4,349,000 4,827,680 0.93 0.95 0.93 0.95 0.93 0.95 89,000 82,970 GLOBAL ESTATE 8990 HLDG 13.58 13.6 13.3 13.72 13.18 13.6 513,700 6,819,264 GOLDEN MV 585 605 600 600 600 600 60 36,000 1.05 1.06 1.05 1.05 1.05 1.05 46,000 48,300 PHIL INFRADEV CITY AND LAND 0.84 0.85 0.82 0.84 0.82 0.84 614,000 512,390 MEGAWORLD 3.32 3.33 3.3 3.37 3.3 3.33 20,815,000 69,304,030 0.275 0.28 0.265 0.28 0.265 0.28 11,680,000 3,217,350 MRC ALLIED MREIT RT 19.96 19.98 20.3 20.3 19.94 19.98 1,693,000 33,898,893 0.34 0.355 0.35 0.35 0.34 0.34 960,000 328,200 OMICO CORP 0.475 0.485 0.475 0.475 0.47 0.475 1,960,000 924,200 PHIL ESTATES PRIMEX CORP 2.12 2.13 2.17 2.18 2.1 2.12 1,617,000 3,439,200 7.57 7.58 7.62 7.62 7.57 7.58 3,357,500 25,470,819 RL COMM RT 19.46 19.5 18.94 19.54 18.9 19.5 26,748,700 516,542,964 ROBINSONS LAND PHIL REALTY 0.246 0.249 0.225 0.249 0.22 0.249 8,810,000 2,112,980 1.45 1.5 1.5 1.5 1.5 1.5 8,000 12,000 ROCKWELL SHANG PROP 2.6 2.62 2.59 2.62 2.59 2.61 1,150,000 3,001,500 STA LUCIA LAND 2.72 2.9 2.9 2.92 2.9 2.9 16,000 46,510 38.15 38.2 38 38.7 37.5 38.2 8,590,500 327,295,555 SM PRIME HLDG VISTAMALLS 3.62 3.78 3.69 3.78 3.61 3.78 52,000 188,940 1.07 1.09 1.07 1.09 1.07 1.09 152,000 162,800 SUNTRUST HOME 3.34 3.35 3.39 3.4 3.34 3.35 498,000 1,673,530 VISTA LAND SERVICES ABS CBN 13.1 13.3 13.02 13.4 12.96 13.3 32,300 420,400 14.26 14.3 14.4 14.4 14.2 14.26 812,100 11,581,010 GMA NETWORK MANILA BULLETIN 0.415 0.435 0.44 0.44 0.44 0.44 20,000 8,800 2,700 2,730 2,788 2,788 2,694 2,700 133,340 361,738,510 GLOBE TELECOM 1,782 1,800 1,830 1,838 1,782 1,782 197,490 356,382,200 PLDT APOLLO GLOBAL 0.065 0.066 0.066 0.066 0.064 0.066 45,960,000 3,015,450 27.8 27.85 28.3 28.4 27.5 27.8 9,937,200 277,379,985 CONVERGE 2.29 2.3 2.3 2.32 2.27 2.29 123,000 281,820 DFNN INC DITO CME HLDG 5.8 5.81 5.6 5.81 5.54 5.8 8,690,200 49,182,673 1.62 1.64 1.65 1.65 1.64 1.64 7,000 11,530 JACKSTONES NOW CORP 1.26 1.28 1.25 1.28 1.24 1.28 1,594,000 1,994,730 TRANSPACIFIC BR 0.39 0.395 0.39 0.405 0.39 0.39 1,930,000 762,450 7.46 7.5 7.5 7.5 7.46 7.5 7,000 52,460 2GO GROUP ASIAN TERMINALS 14.1 14.2 14.2 14.2 14.2 14.2 6,000 85,200 1.75 1.76 1.7 1.75 1.69 1.75 406,000 706,080 CHELSEA 48.75 48.9 47.8 48.9 47.2 48.9 1,155,900 55,985,310 CEBU AIR INTL CONTAINER 215.2 217 214.2 217 210 217 1,156,320 246,895,364 LBC EXPRESS 21.75 22.95 21.75 22 21.75 21.75 6,500 141,425 5.7 5.73 5.7 5.73 5.58 5.73 880,000 4,988,711 MACROASIA METROALLIANCE A 1.03 1.04 1.02 1.04 1.02 1.04 5,000 5,160 0.82 0.84 0.85 0.85 0.83 0.83 85,000 71,990 HARBOR STAR 0.48 0.49 0.48 0.49 0.48 0.485 160,000 77,600 WATERFRONT STI HLDG 0.34 0.345 0.345 0.35 0.34 0.345 210,000 71,850 1.34 1.36 1.36 1.36 1.35 1.36 13,000 17,580 BELLE CORP 6.9 6.94 6.83 6.94 6.61 6.94 16,561,100 113,165,072 BLOOMBERRY PACIFIC ONLINE 1.77 1.84 1.84 1.84 1.84 1.84 1,000 1,840 1.52 1.55 1.6 1.6 1.49 1.55 2,754,000 4,206,200 LEISURE AND RES 1.12 1.18 1.12 1.14 1.12 1.14 4,000 4,520 MJC INVESTMENTS PH RESORTS GRP 0.92 0.93 0.9 0.93 0.89 0.92 1,687,000 1,535,330 0.435 0.445 0.44 0.445 0.44 0.445 11,440,000 5,034,350 PREMIUM LEISURE PHIL RACING 5.1 6.93 5.2 5.2 5.2 5.2 60,700 315,640 2.21 2.23 2.23 2.26 2.17 2.21 596,000 1,309,820 PHILWEB 0.53 0.54 0.55 0.56 0.53 0.54 22,505,000 12,198,020 ALLDAY BERJAYA 5.66 5.9 5.75 5.9 5.66 5.66 11,600 67,066 ALLHOME 8.85 8.92 8.75 8.97 8.75 8.92 218,800 1,945,817 1.42 1.43 1.41 1.43 1.41 1.43 474,000 672,700 METRO RETAIL PUREGOLD 35.9 35.95 36.4 36.5 35.8 35.95 997,800 35,907,690 ROBINSONS RTL 61 61.05 60.5 61.45 60.5 61.05 1,265,220 77,261,737 83.05 86.9 83.4 86.9 83 86.9 720 60,841 PHIL SEVEN CORP SSI GROUP 1.14 1.15 1.15 1.15 1.13 1.14 1,397,000 1,592,630 WILCON DEPOT 27.5 27.6 26.85 27.7 26.35 27.5 6,324,900 169,993,555 0.26 0.265 0.26 0.265 0.255 0.265 2,610,000 680,450 APC GROUP EASYCALL 4.2 4.45 4.2 4.2 4.2 4.2 36,000 151,200 6.7 7 6.75 7 6.75 7 3,300 22,300 IPM HLDG 1.13 1.14 1.15 1.16 1.12 1.14 4,526,000 5,125,670 MEDILINES PRMIERE HORIZON 0.76 0.77 0.69 0.79 0.69 0.77 99,561,000 74,966,730 4.02 4.1 4 4 4 4 12,000 48,000 SBS PHIL CORP MINING & OIL ATOK 5.81 6 5.8 5.81 5.8 5.81 39,300 228,233 APEX MINING 1.67 1.69 1.66 1.75 1.66 1.67 10,789,000 18,357,620 6.6 6.61 6.6 6.65 6.51 6.61 980,600 6,478,606 ATLAS MINING 5.2 5.48 5.28 5.48 5.28 5.48 46,700 248,380 BENGUET A CENTURY PEAK 2.7 2.9 2.63 2.9 2.58 2.9 514,000 1,418,900 2.51 2.52 2.46 2.56 2.46 2.52 10,585,000 26,590,220 FERRONICKEL 0.197 0.205 0.197 0.197 0.197 0.197 840,000 165,480 GEOGRACE LEPANTO A 0.169 0.17 0.161 0.172 0.161 0.169 128,260,000 21,452,890 0.171 0.174 0.16 0.174 0.16 0.174 5,910,000 988,960 LEPANTO B MANILA MINING A 0.01 0.011 0.0098 0.01 0.0098 0.01 114,000,000 1,132,500 0.0099 0.011 0.01 0.011 0.0097 0.011 14,000,000 138,300 MANILA MINING B 1.62 1.64 1.56 1.65 1.56 1.64 4,639,000 7,511,040 MARCVENTURES NIHAO 1 1.02 1.02 1.02 1.02 1.02 101,000 103,020 6.86 6.89 6.9 6.97 6.8 6.89 4,837,600 33,274,351 NICKEL ASIA 0.96 0.97 0.9 0.97 0.9 0.97 7,227,000 6,723,460 ORNTL PENINSULA PX MINING 5.69 5.7 5.68 5.78 5.65 5.7 1,815,800 10,403,527 SEMIRARA MINING 26.7 26.75 26.8 26.85 26.6 26.7 972,000 25,965,515 0.0074 0.0075 0.0071 0.0074 0.0071 0.0074 52,000,000 379,800 UNITED PARAGON ACE ENEXOR 27.8 28.4 28.2 28.8 27.3 28.4 165,000 4,617,560 ORNTL PETROL A 0.012 0.013 0.012 0.013 0.012 0.012 16,900,000 208,500 0.012 0.013 0.013 0.013 0.013 0.013 2,100,000 27,300 ORNTL PETROL B PHILODRILL 0.0097 0.0098 0.0091 0.0098 0.0091 0.0098 63,000,000 599,900 5.88 5.9 5.9 5.9 5.73 5.88 155,100 901,987 PXP ENERGY PREFFERED HOUSE PREF A 100 101 101 101 101 101 100 10,100 512.5 522 512 512 512 512 200 102,400 ALCO PREF D BRN PREF A 105 105.8 105 105 105 105 500 52,500 48 48.5 47.5 48.5 47.5 48 24,400 1,172,150 CEB PREF 101.1 101.2 101 102 101 102 54,150 5,471,300 CPG PREF A EEI PREF B 110 110.3 110.4 110.4 110.4 110.4 20 2,208 992 1,010 991 995 991 991 2,210 2,192,135 GTCAP PREF A 1,005 1,015 1,010 1,010 1,003 1,003 2,020 2,026,200 JFC PREF B MWIDE PREF 4 100 100.5 100.5 100.5 100.5 100.5 500 50,250 100.5 101 101 101 101 101 4,500 454,500 PNX PREF 3B PNX PREF 4 980 996 988 996 980 996 3,040 2,999,850 1,076 1,130 1,076 1,076 1,076 1,076 5 5,380 PCOR PREF 3B 75.65 78.9 77.6 77.6 75.05 75.05 133,400 10,233,237 SMC PREF 2F SMC PREF 2I 77.5 79.05 78.4 78.4 77 77 147,000 11,348,476 77.2 77.25 76.4 76.4 76.4 76.4 10 764 SMC PREF 2J 76 76.95 76.1 76.1 76 76 13,400 1,018,940 SMC PREF 2K TECH PREF B2D 54 55 54.9 55 54.9 55 145,170 7,983,535 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 12 12.96 12.3 12.3 12 12 13,300 162,600 14.3 14.48 14.28 14.3 14.28 14.3 84,400 1,206,852 GMA HLDG PDR WARRANTS TECH WARRANT 0.94 0.95 0.94 0.95 0.91 0.95 255,000 234,430

227,344,195 1,683,231 2,626,365 -135,770 -79,110 2,736.00 857,410 -10,380 1,784,272 94,360 201,926 257,040 -3,250,120 -13,450,241 -2,807,600 9,231,580 -93,728,560 2,964,960 113,772,925 -345,700 -168,237,910 -1,043,000 -8,580 -16,494,730 -45,800 11,942,074 45,150 -17,300 11,400,280 -17,760,974 565 20,650.00 34,772,630 336,900 4,450 -4,879,250 -55,100 -212,300 66,500 998,653 19,740 -15,443,325 -18,696,013.50 -26,666 -131,100.00 100,623,620 20,750 103,880.00 1,057,880 -58,000 83,010 61,538 1,384,170 -6,582,720 66,980 -87,300 53,980 -495,368 -107,900 -125,659 888,045 -312,480 -9,300 -276,438 7,974,735

SMALL & MEDIUM ENTERPRISES ALTUS PROP HAUS TALK ITALPINAS MERRYMART XURPAS

17.08 1.1 1.11 2.13 0.435

17.6 1.11 1.13 2.14 0.44

EXHANGE TRADE FUNDS

FIRST METRO ETF

112.7

112.8

17.98 1.08 1.11 2.1 0.445

18.1 1.12 1.15 2.19 0.46

17 1.06 1.1 2.1 0.435

17.6 1.1 1.13 2.14 0.44

69,200 5,334,000 841,000 4,952,000 3,470,000

1,201,662 5,856,720 950,680 10,625,010 1,560,150

-39,600 139,200 -25,300 193,220 -

113 113 112.6 112.8 4,920 554,965 155,694

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Banking&Finance

ILO sees lag in progress, welfare for ICT workers

HILE digital platforms provided alternative employment to workers, particularly those affected by the pandemic, these continue to lag behind in providing workers in the information and communications technology (ICT) sector the muchneeded social welfare protection, according to the International Labor Organization (ILO). Citing a previous ILO survey, ILO Social Protection Department Director Shahra Razavi noted that of the 20,000 digital-platform workers from a hundred countries who participated in the study, only 40 percent were covered by health insurance. Still fewer of them or only about 20 percent have access to employment injury protection, unemployment protection and old-age pension. She noted that most of these platform employees, who enjoyed such social protection coverage, did so through the contributions they made in their previous jobs or in the case of health insurance, through another family member. “Basically, what this is saying is that the cost of their coverage is being borne by others, including other employers and taxpayers, while the digital platforms themselves are largely avoiding contributing to

the social protection of the workers who are active on their platforms,” Razavi disclosed in ILO’s Future of Work Podcast posted on its website.

Local context

HERE in the Philippines, the Department of Labor and Employment (DOLE) issued a landmark advisory last year emphasizing that riders of food delivery and courier apps are indeed covered by an employee-employee relationship. The DOLE noted that such workers should be entitled to social insurance protection such as Social Security System (SSS), Philippine Health Insurance Corp. (PhilHealth) and Pag-IBIG Fund membership. It came out with the declaration after several riders of food delivery app, Food Panda, sanctioned its riders, who questioned its alleged arbitrary payment scheme last year. However, National Anti-Poverty Commission-Workers in the Informal Sector Council member Susanita G. Tesiorna noted that such policy pronouncement will only be beneficial if it could be strictly implemented by the labor department. “If the government is not working on it, it’s not good for the workers,” Tesiorna said. Samuel P. Medenilla

Perspectives Technology companies lean on cyber to go faster and gain trust

ECHNOLOGY companies continue to provide the products and services that have powered digital transformation throughout the Covid-19 pandemic and allowed the wheels of global industry to keep turning. Yet this digital acceleration has also caused an explosion in the number of potential cyber vulnerability points due to an immediately virtual workforce, increased cloud adoption, hastily reworked supply chains and new business partnerships. The rapid integration of new technologies also created an avalanche of new data to be stored and protected. While some of these trends were already underway, the pandemic dramatically accelerated them. Technology companies were forced to react quickly like all others. In this new reality, technology company CEOs rank cyber risk as the greatest threat to their organization’s growth over the next three years, higher than even supply chain disruption, climate change or talent risk. (Source: “KPMG CEO Solutions.”)

Investing in skills and technology

1. Building a human firewall. Technology CEOs recognize the threat environment changes constantly and sophisticated solutions can be the foundation of a cybersecurity program. However, technology cannot protect everything. It needs to be reinforced by human behavior. Many studies show that a large percentage of reported breaches include some element of human error. That makes it critical for businesses to develop and maintain a comprehensive cyber security strategy that incorporates skilling the workforce. Cybersecurity requires a technological village. Enterprises have long recognized that one technology or process is unable to mitigate cyber risk by itself. They need to invest continually and broadly to identify emerging threats, improve the organization’s response capabil-

ities and increase efficiency within their security function and business units. Tech leaders also feel that while cyber tools are necessary to enable enterprise success, they cannot be so intrusive that they hinder operational efficiency or growth. 2. Cyber investment yields optimism. Technology company leaders are optimistic overall about the state of their information security function, as well as the degree to which it is integrated with their broader risk management efforts, third-party partnerships and business unit leadership. Nearly threequarters (74 percent) of tech CEOs say they are prepared for a future cyber-attack, compared to 58 percent across all industries.

The redefined CISO

AS threats and regulatory expectations evolve, Chief Information Security Officers or CISOs are taking on increased responsibilities and building relationships with a wide range of functions and business unit leaders. The CISO’s role is moving beyond “protect and detect” to enabling the business to get up and running quickly after an incident, as well as helping the CEO preserve trust with customers, suppliers, regulators and other stakeholders. CISOs are also leveraging this opportunity to enhance organizational resilience by working to embed security- and privacy-focused design principles throughout their companies’ digital infrastructures. This expanded scope allows organizations to enhance their ability to mitigate cyber, regulatory and business risks more effectively. The excerpt was taken from the KPMG Thought Leadership publication “Tech Companies Lean On Cyber to Go Faster and Gain Trust” (kpmg.us). © 2022 R.G. Manabat & Co., a Philippine partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Ltd., a private English company limited by guarantee. All rights reserved. For more information on KPMG in the Philippines, you may send a message via social media or visit www.home.kpmg/ph.

BusinessMirror

Editor: Dennis D. Estopace • Monday, February 21, 2022

Tax the wealthy, not poor, to pay ₧102-B debt–group

By Samuel P. Medenilla

@sam_medenilla

labor group is pushing for the imposition of additional tax for the rich to help pay for the country’s whopping P102-billion pandemic response debt.

This after Finance Secretary Carlos G. Dominguez III proposed during the weekend the removal of all exemptions from value-added tax payments to help pay for the expense of the government for the over-222 million novel coronavirus disease (Covid-19) shots it procured. Officials and members of the Sentro ng mga Nagkakaisa at Progresibong Manggagawa (Sentro) re-

jected the proposal for being unjust especially for the poor who they said are still reeling from the effects of the pandemic. Instead of the tax measure, it urged the Department of Finance (DOF) to first study imposing a “wealth tax.” “At this present moment, where many of us are recovering from economic shock and are still economically vulnerable, added taxation

should be levied on those that can afford to pay their just share in our country—such as the rich and top income earners,” Sentro said in a statement issued last Sunday. It challenged the rich “to contribute proportionally” in paying for the country Covid-19 related debt. “After decades of having the rich and powerful flaunt their wealth, abuse connections, and circumvent laws with impunity, it is time to demand that they pay their fair share in our country,” Sentro’s statement read. As early as 2020, Sentro as well as other members of the Nagkaisa labor coalition have been pushing for the imposition of a “solidarity tax,” wherein it will impose additional taxes for shares of stocks; bank deposits; securities (domestic); cash; as well as land and real estate. The labor groups estimated the

government could generate P316.55 billion of revenue if it would just tax at least 1 percent of the estimated P31.66 trillion worth of wealth in the country per year. They proposed a “rank-based approach,” which will be based on the total net worth of an individual, in the implementation of the “solidarity tax” to make sure only the wealthy will be covered by it. Last month, House Committee on Ways and Means Chairman Joey Sarte Salceda said the replacement to President Duterte needs tax the rich so that government would have enough funds for debt payments and adequate social services. (See “Next prex must tax the rich to fund services–Salceda,” in the BusinessMirror, Feb. 01, 2022, B3 / https://businessmirror.com. ph/2022/02/01/next-prex-musttax-the-rich-to-fund-servicessalceda/)

SSS bares dates related to complying with Acop

HE Social Security System (SSS) reiterated in a statement that the deadline for compliance to the Annual Confirmation of Pensioners’ Program (Acop) is on March 31, 2022. The Acop, implemented in 2004, is a measure used by the SSS to ensure the continuous payment of benefits to the rightful pensioners in accordance with the Social Security Law, according to the pension-fund manager. All pensioners who have not yet complied with the Acop for the calendar year 2021 are required to do so on or before March 31. Retirement pensioners residing in the Philippines, on the other hand, are no longer required to do the Acop effective October 30, 2017, but they are subject to other verification processes, if applicable. The Acop was suspended from March 2020 until September 2021 in view of the pandemic situation in the country. “For over one and a half years, we have continuously granted our pensioners their respective pensions without the corresponding reporting under the Acop since they are high-risk individuals to the virus. We have then resumed the implementation of this program last October 1, 2021 and to make up for the suspension period, we have given all covered pensioners, except those who already complied for CY 2021, a period of six months or until March 31, 2022, to submit their compliance through online and alternative methods that are designed for their safety and convenience,” SSS President and CEO Aurora C. Ignacio was quoted in a statement as saying. If the said pensioners fail to comply, the SSS will temporarily suspend their pensions starting with their May 2022 pensions. “Starting April 1, 2022, we will follow the usual schedule of compliance for the program, wherein retirement pensioners residing abroad and total disability pensioners must comply on their birth month; survivor pensioners must comply within the birth month of the deceased member; while dependents and guardians must comply on the birth month of the member or deceased member, whichever is applicable. Non-compliance to this will also lead to the temporary suspension of their pensions,” Ignacio explained. Covered pensioners may also submit their compliance within six months before their schedule, which will be considered as early compliance. Currently, covered pensioners can course

FINANCIAL RESILIENCE

Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno (left) underscored the importance of developing financial resilience at the micro and macro levels in order to mitigate the Covid-19 pandemic’s impact on income, savings and consumption during an Asia School of Business-Bank of International Settlements (ASB-BIS) virtual panel discussion. Joining the BSP Governor are (clockwise) World Bank lead economist Leora Klapper, Bank of Thailand Governor Sethaput Suthiwartnarueput, BIS research head Hyun Song Shin, National Payments Corporation of India CEO Dilip Asbe and Queen Máxima of the Netherlands who also serves as the United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (not in photo). The panel also tackled solutions to the pandemic’s effect on personal finances and government resources, as well as the need for individuals to build up financial resilience to navigate their way out of the pandemic. Photo courtesy OF Bangko Sentral ng Pilipinas

their Acop compliance through the following methods: By sending required documents to the corporate email of the nearest SSS branch (if residing in the Philippines) or foreign office (if residing abroad) using “Acop Compliance” followed by their name as email subject–for survivor pensioners, retirement pensioners residing abroad, total disability pensioners residing abroad, dependents and guardians. By sending required documents through mail or courier to the nearest SSS branch (if residing in the Philippines), or foreign office or OFW-Contact Services Section (if residing abroad)–for survivor pensioners, retirement pensioners residing abroad, dependents and guardians. By submitting the required documents through drop box at the nearest SSS branch–for survivor pensioners and total disability pensioners residing

in the Philippines. By sending a written request for home visit to the SSS through the email, drop box, or mail of the Medical Services Section of the nearest SSS branch–for total disability pensioners residing in the Philippines. By requesting for an appointment with the SSS for video conference using MS Teams through email at ofw.relations@sss.gov.ph—for pensioners, dependents and guardians residing abroad except for total disability pensioners. The establishment of the said methods is part of the SSS’ continuing compliance with the Inter-Agency Task Force Resolution 100, which mandates the adoption of alternative modes of validation for senior citizen pensioners in lieu of personal appearances or submission of documents that require personal appearances before a notary public.

CIC starts ’22 run of school for borrowers, consumers

HE Credit Information Corp. (CIC), the country’s public credit registry and repository of credit information, announced last February 16 it is set to start the 2022 run of its webinar series “CIC Academy” this month. The opening sessions on “Credit Report and Credit Score: Assessing Creditworthiness amid a Pandemic” will discuss the importance of these financial tools in improving one’s creditworthiness and access to credit amid the Covid-19 pandemic. “In line with our mandate, the CIC Academy is our flagship program to raise awareness on the rights of borrowers and consumers, including

ready and immediate access to their credit information through the CIC Credit Report. The program will also educate the public on the benefits of a credit information system to the economy,” CIC President and CEO Ben Joshua A. Baltazar was quoted in a statement as saying. Launched in August 2021, the CIC Academy has successfully reached over 6,000 attendees who had the chance to participate in discussions on various topics such as responsible borrowing, combating abusive lending practices, detecting credit card fraud, building good credit history, and obtaining business loans, among others.

The CIC Academy’s first webinar series for 2022 will feature resource speakers from the CIC and from CIBI Information Inc., one of its accredited credit bureaus issuing consumer credit reports and credit scores. “We will demonstrate how the CIC Credit Report serves as reputational collateral that reflects your creditworthiness,” Baltazar said. “Together, we will also break the stigma of credit being synonymous with financial hardship, mismanagement, and vulnerability, which should not be the case as it is essential for daily life and a tool for financial ‘upliftment.’” He further explained that a credit

score is a value-added service provided by credit bureaus based on the CIC Credit Report: “The higher your credit score, the more creditworthy you are perceived to be by lenders, which improves your chances of getting approved for a loan and other financial services. Being creditworthy is a goal everyone should be aware of and aspire to achieve.” With around 30.7 million borrowers and over a hundred million loan contracts in the CIC database, the CIC Credit Report provides a balanced view of an individual’s credit history as it captures both positive and negative credit data from a wide array of lenders.

Explainer BusinessMirror

B4 Monday, February 21, 2022

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Why would world leaders balk at giving Putin DNA?

RUSSIAN President Vladimir Putin listens to French President Emmanuel Macron during their meeting in the Kremlin in Moscow, Russia, February 7, 2022. With Russia carrying out a massive military buildup near Ukraine and the West roundly rejecting Moscow’s security demands, a window for diplomacy in the crisis appears to be closing. But even as Moscow continues to bolster its forces and holds sweeping war games, Putin is keeping the window open for more negotiations in a calculated game of brinkmanship intended to persuade Washington and its allies to accept Russia’s demands. Sputnik, Kremlin Pool Photo via AP

By Mallika Sen The Associated Press

F knowledge is power, knowing the intimate secrets of one’s DNA could be a powerful weapon. That might explain why the world leaders who hastened to Moscow in recent days for diplomatic talks seemed to balk at Russianadministered coronavirus tests. But this may be a case where imagination is getting a bit ahead of what science is actually capable of. German Chancellor Olaf Scholz refused to let Russia conduct a PCR test— while French officials said President Emmanuel Macron balked at some of the requirements to meet Russian President Vladimir Putin, leading to speculation he didn’t want the Russian swab either. Neither leader is known for opposition to Covid-19 countermeasures, so speculation arose that they were trying to keep genetic material out of Russia’s hands. In the high-stakes world of national security and international espionage, global powers are always looking for an edge, and increasingly those new fronts are less tangible than the battlefield. So gene science may one day be a useful addition to the arsenal, intelligence experts say. But scientists say that day might still be a long way away. Here’s a look at what may be—but probably isn’t—afoot:

and dismissed any idea that the Russians were trying to secretly get Macron’s DNA. A French official said Russia’s conditions for Macron to get close to Putin were “not acceptable” and “not compatible” with the French president’s agenda. Hence: the absurdly long marble table that Macron and Scholz shared with the Russian president and which spawned many memes. German government spokesperson Steffen Hebestreit said he was “reluctant” to comment after the Macron stir. But he told reporters in Berlin that Scholz followed the same procedure Germany applies to foreign dignitaries: They can submit their own PCR tests and, if there’s any doubt, a doctor can come on board the plane to observe the testing. “The Russian side saw it differently and said: if there’s a test it needs to be a Russian one. And the chancellor decided he wouldn’t be available for that,” said Hebestreit, adding: “But I wouldn’t interpret too much into that.”

Have the leaders actually accused Russia of trying to use their DNA for nefarious means?

Why would France and Germany have reason to mistrust Russia?

Well, no. But that hasn’t stopped the rampant speculation. French officials bristled at questions

Both countries are members of NATO, which also includes the United States and Britain. NATO was formed during the Cold War by Western allies as a bulwark against

the Soviet Union. Russia has expressed concern that NATO is using Ukraine as a pawn to undermine Russia and has cited that as the reason for its military buildup along Ukraine’s borders.

What can you actually learn from DNA?

DNA is inside every cell in the body and could be extracted from multiple methods—like a nasal swab—even though a coronavirus test swab is after different genetic material: RNA from the virus. “Those samples have tons of human DNA,” said Kenny Beckman, who directs the University of Minnesota Genomics Center. “You could definitely take that sample, extract the DNA and do whatever kind of full workup you’d want to do on that person.” Your DNA has the instructions that you need to survive and grow. Every person’s DNA is unique. It can be used to find where your ancestors might have come from, whether you have any unknown relatives floating in the ether, and also whether you have certain genetic diseases or genetic abnormalities associated with diseases or medical conditions. In forensic science, DNA can be used to physically connect someone to a piece of evidence or eliminate someone as a suspect in a crime.

How could DNA be used against world leaders?

“You can use DNA to identify disease risk, so [the world leaders] might be at risk for a disease,” said Howard McLeod, a genetics expert and director of precision medicine at the Florida-based Geriatric Oncology Consortium. “You could look and see if there could be some ancestry elements that could be exploited.” But in general, he said, the idea of learning more about someone like a world leader through DNA probably “seems a lot more scary than it is in reality.” Beckman said it seemed “farfetched”

to think that the information gathered could be politically damaging. “What are you going to do, say that Macron has a slightly higher risk of blood pressure?” Beckman asked. “But then I don’t spend a lot of time trying to dream up ways to weaponize someone’s genetic information.” George Annas, a bioethicist who has written extensively about the importance of genetic privacy, wants to make one thing clear: “DNA is not magic. It’ll give you some information, but it’s not going to tell you how you can assassinate somebody.” But even without the capability to bu i ld an ind iv idua l ly targeted bio weapon, the power of suggestion can be enough to compromise world leaders, and Russia has been known to employ kompromat—blackmailing someone by threatening to release embarrassing information about them.

Why can’t Putin and his guests just wear masks?

Putin has largely eschewed masks throughout the pandemic—but is otherwise hypervigilant about Covid-19 measures. The 69-year-old appeared to work mostly remotely and was rarely seen in public before he was fully vaccinated with Russia’s Sputnik V vaccine (which still has not been approved by the European Union).

Does the United States insist on testing world leaders?

When dignitaries visit US President Joe Biden, they are required to be tested, according to an official. The White House makes itself available as a testing option, but most leaders arrange for their own, which the White House is fine with. When Biden himself is tested at home and abroad, samples are taken and processed exclusively by the White House Medical Unit. The US government has allegedly

dabbled in collecting the DNA of foreign leaders. Obama-era diplomatic cables revealed by Wikileaks instructed US diplomats in select African countries to collect “fingerprints, facial images, DNA, and iris scans” from “key and emerging” officials, including religious and business leaders.

I am a normal person who gets Covid tests often. Do I have anything to be worried about?

This shouldn’t deter you from testing. In the US, federal law bars medical providers and laboratories from using patient samples for any purpose other than the original test administered. In certain cases, people can consent to make their results available for research, as with health and ancestry services like 23andMe. Use caution with those services, though; even if tests comply with US law, data can still end up in the hands of another country. Annas says the right to privacy is paramount, no matter who you are: “Even presidents have the right to medical privacy, and they should not have their information disclosed to the public without their consent.”

So do world leaders really have anything to be worried about?

The consensus is the most that a bad actor could do with DNA is generate scandal—not a presidential clone. But you never know where your DNA might end up: a few years ago, an anonymous group calling themselves the Earnest Project claimed to have grabbed DNA from a bunch of world leaders who attended the Davos summit. The group said they would put the samples up for auction as a statement about the perils of surveillance capitalism, but the auction was delayed because of legal concerns and seemingly never rescheduled. The group did not respond to a request for comment made through its website.

Style

BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Monday, February 21, 2022

Christian Siriano’s latest show part Matrix, part bygone times By Leanne Italie and John Carucci The Associated Press

EW YORK—What is reality anymore? Christian Siriano’s New York Fashion Week runway Saturday was part space age, part centuries gone by and part in the moment with a special guest: social media’s star Italian greyhound Tika the Iggy. In the bowels of the Empire State Building, on a bare concrete floor, Siriano rolled out his huge, signature ballgowns in a variety of colors and textures, including one in a gray tweed with a huge hood and another in shiny, steel blue with sleeves that formed spikes worthy of the Jetsons. Before that came a range of looks in the experimental collection he calls “Victorian Matrix.” “I feel like that’s what we’ve been living in. Like, are we living in Victorian times? Are we living in this alternate world? Like, what is it? So I guess that’s kind of how I approached the collection,” he told The

Associated Press. “I felt like I wanted it to be that kind of dream fantasy world. And hopefully we escape when we come underground, under the Empire State Building.” His buyers would be prepared for escape in one of his long, cozy quilted coats in a blue and white swirl design. Others would be fleeing in baby-blue dresses or a brighter blue in a sheer ruffled pantsuit. Maybe they’d don his sheer black dotted off-shoulder corset dress with the structured ball skirt. For fall-winter, there was plenty to choose from as the world sorts itself out, some outfits more wearerfriendly than others. The Project Runway mentor and host who launched his eponymous womenswear brand in 2008 included a series of looks in a bold black and taupe check. There was a belled trouser outfit with a flouncy strapless top that would require a bold fashion confidence. He sent one model out in a mini dress version of the check with a huge round statement head topper that’s as conspicuous as fashion gets. His latest ballgown offerings also came in the

check, one with a full skirt paired with a long-sleeve, midriff-baring top with a cutout back. “The pandemic is ongoing and we can’t seem to get away from it, so I can’t help but question what our world will look like after,” Siriano said in his show notes. “What will happen to the fashion industry? And how will our customers shop?” When they decide, Siriano will be ready with a soft pink corset with a ruffled neck he showed with a slinky cream skirt that skimmed the ground, kicking up dust as other looks did as his models took to the barren, underground catwalk. Some of his guests cheered on his models as the show progressed. Hannah Waddingham of Ted Lasso fame and Siriano mainstays Danielle Brooks (who wore him at her recent wedding) and Alicia Silverstone sat on his front row with Drew Barrymore and Candace Bushnell. Thank goodness Iggy was on hand as therapy dog before Siriano put on this dream show. Waddingham posed for photos holding the tiny TikTok and Instagram star, a huge smile on her face. n

YOUNG CONSUMERS MORE ENVIRONMENT-MINDED IN CHINA, INDIA THAN IN RICH COUNTRIES By Todd Woody Bloomberg News GEN Z and millennial consumers in China, India and other emerging economies are more environmentally conscious, more likely to buy sustainable products and more distrustful of corporate sustainability claims than their counterparts in developed countries, according to a Credit Suisse Research Institute report released Tuesday. The survey of 10,000 young consumers in 10 countries suggests significant opportunities in the food, fashion, travel, tourism and housing

industries for companies that offer products that align with their values, and risks for those that do not. Gen Z and millennials account for 54 percent of the global population and 48 percent of consumer spending, rising to 68 percent by 2040, according to the report. “Of particular importance in this regard is the role of the young emerging consumer, given the potential rise in spending power across the emerging world and the fact that, demographically, developing countries are skewed more toward younger consumers,” wrote the report’s authors.

The survey also found more support among Gen Z and millennials in emerging economies for government regulation of unsustainable products or for banning them altogether from the market. Eugène Klerk, Credit Suisse’s head of global ESG & thematic research, said in an e-mail that the survey did not directly answer why Gen Z and millennial consumers in emerging economies are more sustainably minded than those in developed nations. But he said climate change may explain the difference in attitudes. “First, consumers across emerging markets might have been more

exposed to the impact of global warming than those living in developed markets, which might explain why they are more engaged with finding solutions,” he wrote. “Another reason could be that younger consumers in developed countries have a lifestyle that is less sustainable than that of consumers in developing economies.” Research firm Nielsen surveyed young consumers in five emerging economies (Brazil, China, India, Mexico and South Africa) and in five developed countries (France, Germany, Switzerland, the United Kingdom and the United States).

A NEW SHAPE WITH BUCKETS OF STYLE

ALONGSIDE the legendary Le Pliage, the Roseau bag is a Longchamp icon, perhaps the ultimate symbol of its leather heritage and savoir-faire. A revolution when it was launched nearly three decades ago as an open tote secured with a bamboo toggle—the roseau of the name—the bag is regularly reinterpreted so that, as well as being an enduring emblem of elegance and authenticity, it remains at the cutting edge of fashion. That is more than ever the case for Spring/Summer 2022, when the latest iteration of the Roseau—a simple yet stylish bucket bag—captures the easy, insouciant spirit of the season. Crafted from cowhide leather with a wonderfully supple feel and subtly grained texture, the small yet spacious Roseau bucket is made to be dangled lightly from one hand by its rounded handle or—thanks to its longer, removable strap—slung nonchalantly over the shoulder or across the body. A palette of timeless shades, including tan and black, enhances the authentic feel of this design, which is equally at home at a market in Provence as on the streets of Paris. In addition to the leather Roseau bucket, an array of desirable variations are directly inspired by Longchamp’s Spring/Summer 2022 ready-to-wear collection—witness a model in cotton canvas embroidered with soft floral motifs like a Provençal tapestry, or another version in blue and white striped cotton, which evokes the spirit of the Mediterranean. Both have a natural leather handle and trim, and a canvas shoulder strap. The one feature all these stylish buckets share? The iconic toggle, now in shiny silver or pale gold-tone metal, without which the Roseau would not be the Roseau.

Korean actress Han So-hee co-creates lipstick line

BEFORE Nevertheless, where she starred opposite Song Kang, Han So-hee was best known to Filipinos for being the other woman in The World of the Married. She was also in the historical drama 100 Days My Prince. Recently, she also appeared in My Name as a woman out for revenge. Han So-hee’s choice of roles always surprises us. She is never boring. She is set to appear in Soundtrack #1, a music drama, opposite Park Hyung-sik.

Han So-hee first appeared in SHINee’s “Tell Me What To Do” music video in 2016. Even then, she was a standout not just because of her physical appearance but also because she could act. What I like about Han So-hee is that she has an air of mystery about her, even when she’s being interviewed. She also seems to be a strong and confident woman. In terms of physical appearance, I like that Han So-hee has beautiful unfathomable eyes. Her smooth skin is also enviable. Beyond that, I appreciate how versatile she is as an actress. She can star opposite anyone and somehow bring her whole attractively mysterious aura to the screen so that you’re drawn to her and her co-star. There are so many beautiful actresses. But not everyone is like Han So-hee. She is a gem of her generation. Because of Han So-hee’s popularity in the Philippines, it’s not a surprise that she’s been tapped to be the new face of BYS Philippines and a co-collaborator for a line of lipsticks, called Lip Nectar. “We were drawn to Han So-hee’s beauty, her energy, her versatility, her professionalism, and her personality. BYS has always encouraged creativity and expressing

yourself through our products and campaigns. We’ve always championed loving yourself hard and in doing so, uncovering beauty that’s uniquely yours. Han So-hee fits the bill to a tee,” said Angie Goyena, president of iFace Inc. #UncoverEffortlessBeauty is the hashtag of the BYS-Han So-hee campaign and this 27-year-old Korean actress and model indeed represents our idea of effortless beauty. The shades of Lip Nectar are all named after flowers: Blossom, Cherry, Tulip, Poppy, Rose, Dragonlily, Orchid and Poison Ivy. The formula of Lip Nectar is that of a lip cream. It glides on smoothly. I thought it would be like a liquid lipstick but it’s not. We wore Blossom for around six hours and it faded well. I hate it when a lipstick fades and leaves a ring around the lips. Lip Nectar doesn’t do that. It fades evenly. It wasn’t drying, too, it’s also very opaque when applied but it was not drying. I have yet to test whether Lip Nectar is mask-proof but here’s what I learned two years since the pandemic started and we began wearing masks: only Maybelline Super Stay Matte Ink Liquid Lipstick is mask-proof. There’s a Korean lipstick that they say is mask-proof but it’s not.

As someone who loves lipsticks, I miss wearing them every day. Pre-pandemic, the best part of my day was choosing what lipstick shade I’d wear for the day. In 2020 and early 2021, I’d still wear lipstick for Zoom meetings but I stopped doing that recently, as have many of the women I know. A lot of beauty girls have turned to wearing lip gloss instead of lipstick. I’m imagining that once the pandemic is over, women will pucker up again. Hopefully, new lipstick launches will also excite women again. At P499, Lip Nectar is a good buy. I know people are tired of multi-use products but Lip Nectar also works well as a blush on the cheeks as it’s easy to blend. BYS Philippines said the Lip Nectar shades are a tribute to Han So-hee’s cool girl persona and her strong and bold roles. “It is such an honor to become a brand ambassador of BYS and I’m also happy to get close with my overseas fans who are always supporting and loving me. Please stay tuned for more collaborations of mine with BYS. Mahal ko kayo!” said Han So-hee. The BYS Lip Nectar is available at Watsons and The SM Store, and online via Shopee, Lazada, and Amorfia.

PART space age, part centuries gone by and what the designer calls “Victorian Matrix,” Christian Siriano’s latest collection drew cheers from his chic audience.

B6 Monday, February 21, 2022

SSS extends contribution payment deadline for selected months in 2021 in ‘Odette’-hit areas

Gokongwei Group has successfully completed its digital transformation

HE Gokongwei Group is one of the largest and more diversified Filipino conglomerates with operations across Southeast Asia. Composed of JG Summit Holdings, Robinsons Retail Holdings and Summit Media, the organisation is a crucial contributor to the Philippine economy with diversified businesses that include Airlines, Consumer and ConsumerPackaged Goods (CPG), Financial Services, Manufacturing, Petrochemicals, Real Estate, Retail and Media. They recognized the incredible value and impact cloud computing would have on their businesses, improving their agility, increasing the efficiency of their business processes, building trust, reliability and empowering them to innovate for the future. Their digital transformation journey started in 2018, with a holistic data center modernization project that saw JG Summit Holdings Inc. migrating their main data center in the Philippines to the cloud. In 2019, they announced a strategic partnership with Infosys and Microsoft as part of their digital transformation journey. “The Gokongwei Group has been a part of the Philippines’ history since our founding in 1957. We’ve served our community for many years, and we endeavour to continue doing so well into the future,” said Carlos G. Santos, Chief Information Office of JG Summit Holdings Inc. “Our vison and purpose have steadfastly remained – an unrelenting commitment to provide our customers with better choices, creating shared success with our stakeholders. We knew that achieving that requires an entrepreneurial mindset, and our ambition needed to be on a foundation of integrity. Which is why when it came to digitalizing the organization, across all companies, we knew it needed to be Microsoft, the industry’s most trusted and comprehensive cloud offering.” When the pandemic hit, the Gokongwei Group was ahead of the curve. Through easy and secure collaboration

powered by Microsoft 365, their hybrid workforce was able to ensure business continuity where needed, stay focused on their customer needs, and provided improved service – all while staying safe. Research by The Economist shares that 72 percent of business decision makers across private and public sectors reported an acceleration of their industry’s pace of transformation during the pandemic. Digital transformation, once an imperative to gain a competition edge, became a key to business resilience and transformation. By migrating to Azure, The Gokongwei Group were able to pivot to become a digital company, future proofing their business groups. To accomplish their vision, the Gokongwei Group sought technology partners: ePLDT, Infosys and Microsoft to help them achieve their greater digital transformation ambition. They completed their migration at the end of 2021. ePLDT, the ICT arm of PLDT Enterprise provided the colocation services at its VITRO Data Center, which enables the Gokongwei Group to host their critical IT infrastructure in a world-class data center facility. “We are thrilled to be a strategic partner in the Gokongwei Group’s drive of constantly innovating its operations to

answer the growing and changing demands of the market. On behalf of PLDT Enterprise, we thank the Gokongwei Group for trusting us to be part of their end-to-end digital transformation journey through our VITRO Data Center colocation services. We express our utmost commitment to continuously invest in world-class infrastructure and industry-leading expertise to serve their evolving needs,” said Jojo Gendrano, FVP & Head of PLDT and Smart Enterprise. The Gokongwei Group is one of only a few organizations in the market to do this and the biggest migration of its kind to the cloud of any Philippine-based company. “The Gokongwei Group and their industry-defining transformation has elevated them into an enterprise of tomorrow, which is crucial as the digital and traditional economy continue to be on a growth trajectory,” said Sandy Gupta, Vice President of Sales, Marketing and Operations, Microsoft Asia Pacific. “Together, Gokongwei Group and Microsoft are empowering every person and every organization in the Philippines, through innovation and digital transformation to build an inclusive, economic society. Our customers can trust that we will never compete against them. We’re not a search company; we’re not a retailer. We are an enterprise technology company.”

Asian Institute of Management uses data science and AI to help Baguio City become a smart city

BAGUIO City Mayor Benjamin B. Magalong, Dr. Ian Jasper Agulo from the College of Science of the University of the Philippines Baguio, Dr. Enrico C. Paringit, Executive Director of DOST-PCIEERD, Dr. Nancy A. Bantog, Regional Director of DOST-CAR, and an ACCeSs@AIM team, led by Aboitiz Chairs in data science Drs. Christopher Monterola (Academician and MINERVA Project Leader) and Erika Fille T. Legara (PATURO Project Leader) participated in the kick-off meeting. They were also joined by DOST Balik Scientist Dr. Jesus Felix Valenzuela and ACCeSs@AIM Senior Data Scientist and Chief Science Research Specialist Dr. Louella Alva Presbitero, who will be spearheading research efforts with Dr. Monterola.

HROUGH Project MINERVA - Monitoring INdicators for Efficient Redevelopment and Value Assessment - researchers from the Asian Institute of Management (AIM) through the Analytics, Computing, and Complex Systems Laboratory of the Asian Institute of Management (ACCeSs@AIM) are harnessing the power of data science and artificial intelligence in monitoring and building predictive models for various environmental factors in Baguio City, to help it become a smart city. Project MINERVA was launched on 15 February 2022 at a kick-off meeting via Zoom conference organized by ACCeSs@AIM. MINERVA is a partnership between ACCeSs@AIM, the University of the Philippines – Baguio, and the Local Government Unit of the City of Baguio. The project's ultimate goal is to have a data hub driving prediction and monitoring models for air quality, water supply, urban mobility, and tourism integrated into a Smart City

Index and visualization platform. With MINERVA, ACCeSs@AIM is building upon the foundations set by Project PATURO (Platform for Assessment and Tracking of Urbanization – Related Opportunities), its first smart city project. The project aims to complement the City of Baguio's urban renewal and smart city initiatives through data science and artificial intelligence, leveraging existing local government datasets and technologies and deploying new sensors and publicly available data. Baguio City is a pioneer in providing digital governance in the Philippines and will be the testbed for the project. Mayor Benjamin Magalong is excited to transform the City of Baguio through Project MINERVA. “This is a major step in how we will revolutionize how the city manages its critical assets. We will be able to govern efficiently by gathering data to identify, analyze, and solve problems. This is a critical step towards

institutionalizing how we define good governance,” he says. According to Dr. Christopher Monterola, Executive Managing Director of ACCeSs@AIM, “Our goal is to be the global leader in understanding the recipes to efficiently develop a smart city in the context of a developing nation. By developing an intelligent decision-support system driven by an Internet-of-Things (IOT) network of smart sensors, we want to determine how the economic activities and the corresponding movement of people impact the vibrancy and overall liveability of an evolving city.” ACCeSs@AIM is AIM's first industry-facing data science and advanced analytics laboratory - the first of its kind in the Philippines. It houses the most powerful supercomputer in the Philippines and one of the most powerful in Southeast Asia (1.2 petaflops, or quadrillion decimal-point operations per second). Project MINERVA is funded by the Department of Science and Technology - Philippine Council for Industry, Energy and Emerging Technologies Research and Development (DOST-PCIEERD) under its 2021 “Smart City Challenge: Sustainability through Innovation in Cities” grant call. PCIEERD Director Paringit is confident that the project will yield impactful results. “As a leader and partner in enabling innovations, we are optimistic that Project MINERVA will lead the way for other local government units in taking the digital leap and transforming into smart cities,” he said.

HE Social Security System (SSS) announced that the contribution payment deadline for selected months in 2021 is extended to February 28, 2022, in areas declared under a state of calamity due to Typhoon Odette through Presidential Proclamation No. 1267. Based on SSS Circular No. 2022-004 dated February 9, 2022, contribution payments that may be made until the extended deadline are for the applicable months of November and December 2021 of business and household employers; and October to December 2021 of coverage and collection partners (CCPs), self-employed, voluntary, non-working spouse (SE/V/ NWS) members, and land-based Overseas Filipino Worker (OFW) members in the following regions: Region IV-B (MIMAROPA); Region VI (Western Visayas); Region VII (Central Visayas); Region VIII (Eastern Visayas); Region X (Northern Mindanao); and Region XIII (CARAGA). For employers with approved installment proposals, their post-dated checks that fall due in December 2021 and January 2022shall be deposited on or before February 28, 2022. Meanwhile, no contributions paid retroactively by an SE/V/NWS and land-

based OFW member will be used in determining his/her eligibility to any benefit arising from a contingency wherein the date of payment is within or after the semester of contingency. For example, if an SE/V/NWS or land-based OFW member gets sick in April 2022, his/her semester of contingency will be from January to June 2022. This would mean that contributions paid during this time of extension will not be used to determine the eligibility of the said member for the benefit since the date of payment falls within the semester of contingency. Information about online and alternative payment channels for SS contributions can be accessed at the uSSSap Tayo Portal at https://crms.sss.gov.ph. The SSS also opened a calamity assistance package for its members and pensioners affected by Typhoon Odette. Programs under the package are the Calamity Loan Assistance Program for members and three-month advance pension for SS and EC pensioners, which will run until April 13, 2022; and the Direct House Repair and Improvement Loan Program, which will be open for applications until December 23, 2022. The complete guidelines of the said programs can be found at https://bit.ly/ SSSCI2021-020.

MERALCO IMPROVES AMADEO DELIVERY POINT SUBSTATION. Meralco recently commissioned an additional 300MVA power transformer in its Amadeo 230 kV-115 kV delivery point substation located along Crisanto M. De Los Reyes Avenue, Barangay Banay-Banay Amadeo, Cavite. This additional power transformer bank will help prevent widespread and prolonged power interruptions that could affect numerous residential, commercial, and industrial customers in the province of Cavite. This project will also provide the additional capacity needed to serve the increasing power demand in the high growth areas in the same area, such as in Gateway and FCIE industrial parks. Despite the continued implementation of community quarantine measures or the new alert level system throughout the country due to the COVID-19 pandemic, Meralco and its subsidiaries are continuously working hard to improve its distribution system in order to provide safe, adequate, and reliable electric service to its customers.

Level up your online business with TM‘s FunRaket promo

HIS year, more good vibes await TM‘s ‘raketero’ subscribers who are looking to succeed financially. TM‘s new mobile promos were made richer and more exciting with bigger data allocation for every day internet and apps they need for more income. The all-new EasySurf FunRaket promo is loaded with offers that give Pinoys a better, easier, and more convenient digital experience, and the necessary support to start off or grow an online business or raket at very affordable prices. With EasySurf50, subscribers can enjoy up to 5GB data allocation—2GB allaccess data plus FREE 1GB data daily for all-day access to FunRaket bundled apps like Facebook, Lazada, Shopee, Kumu, foodpanda, JobStreet and GCash, PLUS unlimited texts to all networks for three days—all for only Php50! Complementing the rich offers of EasySurf FunRaket is TM’s new and improved 5G SIM, which provides subscribers on a tight budget with sulit and reliable internet freebies for their daily needs with extra benefits to grow their rakets.

“Mas kumpleto at pinasulit pa ang aming data promos dahil ang goal namin ay mas lalo pang mapagaan ang raket sa buhay ng aming mga ka-TM,” said TM Brand Head Mark Malabanan. “The new EasySurf FunRaket promo and the latest TM 5G sim are the best partners to start, level up or sustain their raket para makabawi from the challenges of the previous years,” said TM Brand Head Mark Malabanan. TM’s new sim freebie is not just the typical data, calls and text package, it can also enable raketeros to start and grow a small business in a more affordable way. For only 30 pesos, users can enjoy up to 10GB data, 10 TM rewards points, and 10 pesos GCash credits, plus 30 minutes calls and unlimited texts to all networks. It also comes with FREE FunAliw Pack that offers access to entertainment and social media apps like Facebook, YouTube, TikTok, and Mobile Legends for seven days. To know more about TM’s latest offers, visit www.tmtambayan.ph or download the New GlobeOne app via Google Play and App Store.

Marketing BusinessMirror

www.businessmirror.com.ph

Monday, February 21, 2022 B7

The coronavirus chronicles: Words that will heal and inspire in 2022 A

PR Matters By Millie F. Dizon

S PR Pros, we are all potential wordsmiths. The way we speak and write can create beautiful programs for our company and clients, boost their visibility, and craft unforgettable images. Conscious of the power of words, we annually update or vocabulary with a Banished Word List that often dates us. But as Katie Burke says in an article in Inc.com, “there are also words and phrases we should use more often this year.” These are words, that heal, inspire, and bring us closer to those we work with. In her article, 5 Phrases to Use More Often in 2022, she resolves to use more of these during the year. With these, she hopes that these will “inspire people to express gratitude, save time, and retain key people in 2022.”

1.“Let’s cancel this meeting”

Whether these are face to face or virtual, we are bombarded by an overload of meetings. It is said that middle managers spend more than one third of their time in meetings, and for those in the senior level, these can also be higher. This obsession with meetings may be tied in with a desire to belong and be relevant. More than simply being a time to get our thoughts together to achieve a goal, many meetings evolve into time consuming gettogethers. “No one ever looks back on their career and wishes they spent more time in meetings,” says Burke. “So if you really have the courage to really look at gatherings that no longer serve their purpose or eliminate people who don’t need to attend meetings, you’ll find your team more productive and less fatigued.” Choose only strategic meetings instead of those endless ones that take a lot of time. In the meantime, your day-to-day coordination can make work and solutions more efficient.

2.“What can I do to support you right now?”

The pandemic has brought a lot of uncertainty in the workplace, and with business models quickly changing, it lifts one’s spirits to hear words that offer encouragement and assistance. For Burke, asking “How can I help?” is great, but can often be viewed as a platitude, so it’s imperative to get specific and granular on how you can best support someone in a way that works for them. Filipinos are know n our Bayanihan spirit, so this is a perfect time to practice this.

n Art & Culture: New climate anthology Harvest Moon launched today

QUEZON CITY, PHILIPPINES—Reading stories and poems, watching movies, listening to music, and seeking out art kept people sane at the height of the Covid-19 lockdowns in the country, making these creative works matter more than ever. The arts and humanities carry us through times of hardship. A new anthology on climate change, titled Harvest Moon: Poems and Stories from the Edge of the Climate Crisis, turned to art, photography, and literature to weave stories about the planetary crisis. Launched today by the Agam Agenda and Institute for Climate and Sustainable Cities (ICSC), “Harvest Moon is a book that heeds the call to reimagine how we are going to survive and thrive in a time of painful planetary transformation,” said Padmapani L. Perez, lead strategist for the Agam Agenda and Asia editor of the book. “Through Harvest Moon, we hope to show that art and literature have a role to play, not just in communicating cli-

3.“I really appreciate you.”

The US is currently experiencing what they call the Great Resignation. It is said that in September 2021 alone, 4.4 million Americans left their jobs. “People have more options than ever for where to work, and headlines are dominated with stories about people changing jobs or roles.” While it is the opposite in the Philippines, and the majority are struggling to work, appreciation goes a long way in motivating the people we work with as they navigate through difficult times. With this, Burke says “we really need to get really good at being specific, clear, and direct about what we value about people who work on our team.” She suggests “handwritten notes, a shoutout in a meeting, or as part of performance reviews, make sure you thank people for the impact they bring to your team.”

4.“I’m rethinking my position on this”

We all accept the fact that the pandemic has changed everything. And with the many changes around us, we have to rethink the

mate change, but also in accompanying us through the crisis, providing solace, companionship, and opening portals to new possibilities,” she added. Perez likewise said that the authors behind the entries of the new anthology veered away from the usual storytelling, which makes use of jargons, cliches, and hot keywords. “The new works in this book counter this with language and stories that make the crisis legible and that bring it home for those of us who are most vulnerable to its effects….This book is a gathering of diverse voices, thanks to the work of my co-editors Rehana Rossouw, Alexandra Walter, and Red Constantino,” she said. ICSC’s Executive Director Redentor Constantino, meanwhile, noted the importance of writing in narrating complex phenomena like climate crisis, and at the same time urged all stakeholders to compel the government to put in place measures that will address the problem of climate crisis. “It’s time we wrest power from the tiny few intent on causing us harm today if only to secure their narrow interests in the long run. We need the public to convince our governments to serve the interests of the intergenerational majority, to acquire more courage, and to once and for all discard the hesitation advanced by the powerful and ignorant minority—willing tools each one paid and purchased by fossil capital and the dictatorship of accumula-

tion and consumption,” Constantino said. “We will resist. We must resist. And we will win. But first, we must write. First, we must tell our stories. First, we must encourage others to tell their stories. And yes, before we write, first, we must read, we must sing, and we must live,” he added. During the virtual book launch, select excerpts of the book were read by its authors and contributors, including internationally-recognized and multiawarded Filipino poets Marjorie Evasco, PhD. and Dr. Joey A. Tabula, who read their own contributions to Harvest Moon. Drs. Evasco and Tabula read the poems of Irma Pineda, Zapotec poet and member of the United Nations Permanent Forum on Indigenous Peoples, and the Cuban poet Roberto Manzano. Also featured in the launch were Luisa A. Igloria (Philippines/ USA), Fiston Mwanza Mujila (Democratic Republic of Congo), Xiaojun Wang (China), Leonardo Padura (Cuba), Yewande Omotoso (Barbados and South Africa), Gawani Domogo Gaongen (Philippines), Yuvan Aves (India) photographer Vinai Dithajohn (Thailand), photographers Veejay Villafranca and Lisa Lorenzo (Philippines), artist Fara Manuel-Nolasco (Philippines), book designer Felix Mago Miguel, and renowned essayist Rebecca Solnit. The narratives and photographs in Harvest Moon span 24 countries and 11 languages, specifically Zapotec, Turkish, Swahili, Spanish, Kankanaey, French, Filipino, English, Chinese, Binisaya, and

ways we plan and do things in a world that has constantly evolving. Burke cites Adam Grant’s newest book, Think Again, which talks about the power of changing our minds. “As a leader, there can be exorbitant pressure to feel you know it all,” she says. “This results in many managers feeling tethered to their opinions, and as a result, treating them as fact.” In 2022, she suggests spending “more time with people to challenge the status quo or conventional wisdom with data, and attempt to be less personally connected to our opinion on things.” You’ll be surprised how rethinking leads to innovation and unexpected success.

5.“Here’s what I learned from my mistake”

“Acknowledging that you made a mistake as a leader is critical,” says Burke. “It’s equally important to own what you learned from it, so you normalize failure but also the associated insight that comes along with it.” She recalls how after a recent blunder, “I sent a detailed write up of what went wrong and what I learned from it to the folks on

Bahasa Indonesia. The first Philippine edition of Harvest Moon is published by Milfores Publishing. In keeping with the vision of a beautiful yet accessible book for diverse readers living in a time of climate crisis, ICSC is offering the limited Philippine edition of Harvest Moon at a significantly markeddown price of PP599. The book is now available on Shopee and Lazada via Milflores Publishing, Fully Booked, Ayala Museum Shop, Mt. Cloud Bookshop (Baguio City), and Solidaridad Bookstore (Manila). The Agam Agenda brings together diverse voices and new narratives on climate change in the Harvest Moon anthology. They also invite writers, artists, scientists, activists, and storytellers everywhere to join the global collaborative campaign When Is Now to demand urgent climate action for the planet.

n Film: Cinemalaya 2022 calls for short feature films submissions

MANILA, PHILIPPINES—The Cinemalaya Philippine Independent Film Festival 2022 is now open for submission of entries for its Short Film Category. Deadline for submission is on or before April 8, 2022 (Friday), 6 pm. The Short Film Category is open to Filipino filmmakers only. Entries must have been produced within the period of March 5, 2021-April 8, 2022. Interested par ticipants can sub mit their entries via online or offline

my team directly impacted.” Doing so, she says, “was really helpful for me to really own where and how I messed up, but also opened the door to hold me accountable to improve upon it for the next time around.” All in all, “as a leader, your vocabulary sets a strong tone on how your team operates, so choose your words and intentions for 2022 wisely. These quick and easy phrases can help you demonstrate empathy, humility, and transparency.” More than anything else, it can help your team grown together meaningfully as we face the challenges of 2022. PR Matters is a roundtable column by members of the local chapter of the United Kingdombased International Public Relations Association (Ipra), the world’s premier association for senior professionals around the world. Millie Dizon, the senior vice president for Marketing and Communications of SM, is the former local chairman. We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.

channels. For submission through online portal, follow the link (bit.ly/Cinemalaya2022ShortsEntryForm), fill out the entry form and upload your film and filmmaker’s profile. For offline submissions, film entry must be submitted in a USB. Entries must be submitted in a long brown envelope properly labeled with the proponent’s name, title of film, and contact details. The USB must be: The final work in MP4 format, with violator/watermark, properly labeled with title, production company, address and contact numbers, production date, director’s name, and running time (which should not exceed 20 minutes inclusive of credit titles). It must be accompanied with the duly completed entry form, synopsis in English, a brief resume and two (2) recent 2×2 photos of the filmmaker/s. Entries, with complete requirements, must be submitted to the Film, Broadcast, and New Media Division (FBNMD), 4F Cultural Center of the Philippines (CCP), Roxas Blvd., Pasay City. The ten (10) short feature finalists will be screened during the 2022 Cinemalaya Film Festival from August 5-14, 2022. For the complete mechanics, visit the CCP and Cinemalaya websites (www.culturalcenter.gov.ph and www.cinemalaya. org). For more updates, follow the CCP and Cinemalaya official Facebook socialmedia accounts.

Figure skating age debate bares body image challenges

EIJING—Some figure skaters are hoping an Olympic doping scandal that is fueling a push to raise the minimum age of competitors will also focus attention on what they see as the sport’s most pressing issue: body image, body shaming and disordered eating. The sport is under scrutiny after 15-year-old Kamila Valieva of the Russian Olympic Committee tested positive for a banned heart medication, then failed to medal in an event for which she was the overwhelming favorite. Valieva’s ordeal has led some skating officials to propose raising the minimum age for elite figure skating competitions from 15 to 17, ahead of the 2026 Winter Olympics in Italy. The age question is inseparable from the sport’s struggles with eating disorders and body image. Younger, less developed skaters are doing things on the ice that more mature women’s bodies can’t, notably the quadruple jumps performed in Beijing by Valieva and other teen skaters working with her embattled coach, Eteri Tutberidze. “We see girls who are really young and thin and who do really well in our sport,” said Josefin Taljegård, a 26-year-old Swedish figure skater who competed in the women’s individual event in Beijing. “Maybe that’s why they’re so skinny—because they’re still children.” That puts pressure on older skaters to keep pace. “It usually is not like ‘Oh you have to look this kind of way’ but sometimes one can hear ‘Oh if you were skinnier, you would jump higher or rotate faster,” Taljegård said. While the Valieva case has focused the world’s attention on doping, skaters say body image issues are far more pervasive in the sport. The 2014 class of Olympic skaters is proof. Yulia Lipnitskaya was Russia’s golden girl at the Sochi Games when she was 15, before becoming a cautionary tale of chronic anorexia when she retired because of her struggles with the disorder. American Gracie Gold’s wellknown story of overcoming anxiety and an eating disorder to continue competing has been an inspiration for many skaters. US ice dancer Kaitlin Hawayek, 25, said she had an eating disorder for several years. Not enough has been done to educate young skaters to see “their body is great exactly the way it is,” she said. Hawayek feels fortunate to have the support of her coaching staff, nutritionist and trainers on the US team. “I’ve really been able to see a new mindset that has allowed me to embrace my body,” she said. US figure skater Alysa Liu, who is just 16, said she found a way to cope with negative comments about her body, but it took time for her to truly understand the dynamic she was being caught up in. The American prodigy placed in the top 10 for the women’s individual event this week. AP

Sports BusinessMirror

HIDILYN TURNS 31

Olympic gold medalist Hidilyn Diaz celebrates her 31st birthday in Jala Jala, Rizal, where she and fiancé Julius Naranjo are building a weightlifting gym. Diaz says it’s the first time that she’s celebrating her birthday in the country in three years and with family and close friends. Her birthday wish? More wins in weightlifting and [success in] life, according to Naranjo. HIDILYN DIAZ FB

| Monday, February 21, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

PRESIDENT’S AWARD FOR YULO, SASO CARLOS YULO and Yuka Saso make the country proud with their achievements in 2021.

WO reigning world champions will be recognized with the esteemed President’s Award in the San Miguel Corp.-Philippine Sportswriters Association (SMC-PSA) Annual Awards Night. Gymnast Carlos Yulo and golfer Yuka Saso will be honored by the country’s sportswriting fraternity in the March 14 Awards Night for their lifting Philippine sports on the world stage. Saso, 20, made history when she clinched the US Women’s Open at the Olympic Club in San Francisco, California, to become the first from the Philippines to win any of golf’s major championships. Yulo, 22, was just as impressive as he bagged the gold in men’s vault at the 50th International Gymnastics Federation Artistic Gymnastics World Championships in Kitakyushu, Japan, while adding the silver medal

By Josef Ramos

HE country’s first representative to the Winter Olympics, Ben Nanasca, advised the country’s most recent bet in the Games, Asa Miller, to continue chasing his dream—forget about Beijing and focus on Cortina and Milano 2026. “If he enjoys the sport and has the passion for it, go for it,” Nanasca, 68 and still skis the sloped of New Zealand where he’s now based, told BusinessMirror on Sunday. “Maybe the third time’s the charm and maybe, he can beat my bestplaced finish

in the parallel bars. “Both Yuka Saso and Caloy Yulo are deserving to be honored for their hard work and commitment to uplift Philippine sports around the world,” said PSA president Rey C. Lachica, sports editor of Tempo. “And for bringing pride and joy to the country especially in this time of the pandemic, the PSA pays homage by bestowing them the President’s Award.” Yulo and Saso make up the compact list of 2021 awardees to be feted in the event that has the Philippine Sports Commission (PSC), Philippine Olympic Committee (POC) and Cignal TV as major backers. The country’s first Olympic gold medal winner, Hidilyn Diaz, is the recipient of the coveted Athlete of the Year award solely bestowed by the country’s oldest media organization.

I AM bummed out. Bummed out by the loss of Mark Striegl to Chas Skelly this Sunday morning on UFC Fight Night. Skelly, in perhaps his final UFC fight, struck Striegl with an elbow to the jaw, followed it up with some strikes, then hit him with a knee to the chin that dropped the latter. Did I think Striegl would beat Skelly?

MASCARIÑAS

‘Chooks’ hosts Worlds Masters in Manila, Cebu

the men’s vault and finishing sedond in the parallel bars for a double medal finish for the Filipino, who missed the podium of his pet floor exercise. It was the third medal in the last two world championships of the event for Yulo, who clinched gold in the floor exercise in the 2019 edition in Germany.

Nanasca to Miller: Don’t give up on your dreams then in 2026 Winter.” Nanasca and cousin Juan Cipriano created a breakthrough in 1972 by becoming the first athletes from any tropical country to compete in the Winter Olympics. Nanasca’s 42nd-place finish among 73 participants in that Sapporo Games still stand as the best performance so far by a Filipino Winter Olympian in giant slalom. Nanasca watched on television Miller’s forgettable performance in men’s giant slalom last February 13 and in slalom last Wednesday and advised the

FIGURE skating is under scrutiny after Kamila Valieva tests positive for a banned heart medication, then fails to medal in an event for which she’s the overwhelming favorite. AP

Bummed out by Striegl’s loss

The special event will be held at the Diamond Hotel and is presented by the Philippine Basketball Association, Milo, 1 Pacman, Rain or Shine, ICTSI, Chooks To Go, Smart, Philippine Racing Commission and the MVP Sports Foundation. Saso showed nerves of steel when she authored her historic victory in the early morning of June 7, beating 19-year-old Japanese Nasa Hataoka in a sudden-death to win the prestigious US Open. The Filipino-Japanese who idolizes Rory McIlloy, tied Inbee Park of South Korea as the youngest to win the US Open. Yulo meanwhile, bounced back strongly after falling short of his Olympic campaign in Tokyo. The diminutive pride of Leveriza in Manila made his presence felt in the world championships by topping

Yes, possibly. But when Skelly entered the Octagon, I thought, “Jeez, not only is he bigger but he looks freaking stronger.” Even the fight commentators took note of that. Granted height and strength doesn’t mean one will one a fight inside the Octagon, it still helps. Plus, Skelly had a slight advantage in reach. Though that advantage in reach did not help Brazilian Johnny Walker as he was knocked out by Jamahal Hill in the main event. In the first round of the Skelly-Striegl fight, Mark did well to mix it up with his leg kicks and strikes. Skelly showed he can take a shot. When backed into the fence, Mark displayed some strength as well as dexterity as he got out of potential trouble. Although he was dropped into the canvas, Skelly was unable to inflict damage. In fact, I thought that Mark nailed him good with some shots. Furthermore, Striegl showed once more excellent defense when backed up against the fence in the second round. But during close quarters combat—the same as in his loss to Said Nurmagomedov in his first UFC fight— the opponent found an opening that rocked him and led to a punishing finish. After Mark Muñoz (14-6, 9-6 in the UFC), Brandon Vera (16-9, 8-7-0 and 1 NC in the UFC), Rolando Dy (14-11, 1-4 in the UFC), and Jenel Lausa (7-6, 1-3 in the UFC), there are

NANASCA

21-year-old Filipino-American to continue racing despite booking two Did Not Finish results. Records and best times in Alpine skiing, Nanasca said, are immaterial because no two giant slalom and slalom courses are alike, adding Pyeongchang 2018 where Miller finished 70th in giant slalom had different conditions from that of Beijing. “It was the same weather condition when I raced in Sapporo,” he said. “It was snowy and light was low. But I just aimed to finish the race and I did. Nanasca

MILLER

said Miller’s giant slalom event was difficult because of the thick and hard snow and poor visibility. “I’d like Asa to continue racing and do the hard work,” Nanasca said. “Maybe next time he might do better and be stronger. Remember, Mikaela Shiffrin also didn’t finish her races twice.” “So it’s not the end for anybody who didn’t finish there,” he added. Shiffrin is a two-time Olympic champion but missed the podium in the Beijing 2022 Winter Olympics that ended on Sunday. Miller and his dad Kelly are flying back to the US on Monday after attending the closing ceremony.

only three Filipinos or have Filipino lineage in the UFC— Jordan Williams (9-6-0, 0-3 in the UFC), Ricky Turcios (112-0, 1-0 in the UFC) and Striegl (18-4-0, 1 NC, 0-2 in UFC). I am bummed out because I wanted Striegl to get that first UFC win for himself. Like any other mixed martial arts fighter, it is their dream to fight in the UFC. That’s like going to the National Basketball Association, to the Premier League, to Major League Baseball, or to the National Hockey League. It’s the pinnacle of their sport. And Mark dreamt about that. From the beginning, that was his dream. Plus, he’s a good guy who deserves this. I also wanted him to win for the Filipino MMA fighter. After Rolando Dy retired following his last loss in Brave Combat Federation, do we have anyone who is based in the Philippines fighting abroad? Sure, we have the ONE Championship fighters and that is good. However, the best MMA organization in the world is the UFC. Anyone who says otherwise is smoking something illegal. Of course, Striegl’s career isn’t done just yet. He has three more fights in the UFC under his current contract. We do know that the next fight is a make or break one. That time though is for the future. Right now, he needs to heal in mind not body.

FTER bringing the International Basketball Federation (Fiba) 3x3 Super Quest—then the first Challenger tournament—to Philippine soil two years ago, Chooks-to-Go Pilipinas 3x3 now hosts the World Tour Masters with two tournaments later this year. The Manila Masters returns to the country for the first time since 2015 with a May 28 and 29 schedule, while first-ever Cebu Masters, meanwhile, is scheduled on October 1 and 2, according to Chooks-to-Go president Ronald Mascariñas. “Since 2019, the goals of Chooks-to-Go Pilipinas 3x3 is to expose the Filipino player to worldclass competition while bringing quality 3x3 basketball to the fans,” Mascariñas said. “Two years before the 2024 Paris Olympics, we need to garner Fiba 3x3 points to qualify for the tournament or the Olympic Qualifying Tournament.” “By hosting the top-level tournaments, we get maximum points while also giving our players more experience and mileage in international 3x3,” he added. Utsunomiya will open the season on May 14 and 15. Besides Manila and Cebu, there will also be Masters tournaments in France, Prague, Lausanne, Debrecen, Montreal, Chengdu, Jeddah, Hong Kong and Macau. The season closes on December 9 and 10 in Abu Dhabi. Chooks-to-Go Pilipinas 3x3 players will be taking part in the Fiba 3x3 circuit. “I think we should be very grateful to Chooks-to-Go for insisting and continuing its effort to help 3×3 in the Philippines,” Fiba 3×3 managing director Alex Sanchez said. “We always thought and believed that the Philippines is a great opportunity and market for 3×3.”

The only consuelo I got out of the fight is that Jon Anik, the lead commentator for UFC Fight Night last Sunday, saw the three-part documentary I wrote and co-produced titled, Mark Striegl: The Road Back to the UFC. Anik, mentioned it during the broadcast thrice. And I sure got a kick out of that. I previously wrote, co-produced and co-directed Glory Road: The Story of Philippine Boxing, a two-hour special that aired on Solar Sports more than a decade ago. I have also done so in a similar capacity for Fight! Fight! Fight! The Story of the Blue and White and The Drive for Five; a pair of documentaries about Ateneo sports and the Ateneo Blue Eagles’ “five-peat” in the University Athletic Association of the Philippines. I have also done quite a few others for Gatorade Philippines and a few more for Solar Sports. I was weaned on National Football League documentaries and was later inspired what ESPN was doing. I have dozens of DVDs and Blu-ray discs from MLB, the National Basketball Associatoon, Premier League and FIFA, the NHL and the UFC among others about sports stories. As a journalist and a professional writer, doing documentaries, commercials and videos certainly complements my work. Now I can’t wait to work on one when Mark Striegl picks up his first UFC win.