BusinessMirror February 22, 2023

Think tank: Next rate hike may only be 25 bps

THE Monetary Board is expected to raise interest rates by only 25 basis points in its next policy meeting, according to a local private think tank, First Metro Investment Corp.University of Asia and the Pacific (FMIC-UA&P) Capital Markets Research.

In its latest Market Call report, the think tank said inflation is expected to cool and average 8.1 percent in the first quarter of 2023. This may be the impetus for the

Bangko Sentral ng Pilipinas (BSP) to raise rates at a slower pace of 25 basis points.

Last week, the Monetary Board raised interest rates by 50 basis points, effectively increasing overnight reverse repurchase facility rates to 6 percent.

“Consistent with our forecast that Q1 inflation will average 8.1 percent, the Monetary Board increased policy rates by 50 bps to 6 percent in its February 16 meeting to keep inflation expectations in

check, and minimize second round effects,” FMIC-UA&P Capital Markets Research said.

The think tank expects inflation to continue easing. But it will not be until the second semester of the year when the slowdown in inflation will be faster.

“Notably, Thai rice prices, 5 percent broken, have risen by 21.7 percent year on year by January and threaten to upset expectedly milder food inflation in the second quarter,” the FMIC-UA&P Capital

Markets Research said.

Overall, the think tank said the Philippine economy is expected to “weather the global recession relatively unscathed” this year on the back of a positive growth in jobs and increased infrastructure spending.

“[The] manufacturing sub-sector gains may continue to drive domestic demand despite elevated inflation rates. The personal income

See “25 bps,” A2

Senate wraps up RCEP debates

By Butch Fernandez @butchfBM, Cai U. Ordinario @caiordinario & Jovee Marie N. dela Cruz @joveemarie

Senators need to muster at least 16 votes to ratify the treaty that had been signed in the previous administration, but which was not ratified in the 18th Congress for lack of time to tackle serious concerns that it would permanently, substantially damage key sectors, especially agriculture.

Senators stood up one after the other late Tuesday to interpellate the treaty’s main endorsers in the chamber—Senate President Juan Miguel Zubiri and Senate President Pro Tempore Loren Legarda— as well as grill the country’s top

negotiator, Assistant Secretary Allan B. Gepty of the Department of Trade and Industry (DTI).

Gepty was earlier grilled at length by Sen. Chiz Escudero, who was not impressed by the argument that only a little over a dozen agricultural commodity groups will have tariff rates lower than were set under existing freetrade agreements among Asean countries.

Escudero said the exclusions

list—of so-called “sensitive items”

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NIC clears Innovation Fund drawdown for 19 projects

THE National Innovation Council (NIC) has approved 19 projects to tap into the government’s Innovation Fund, according to the National Economic and Development Authority (Neda).

In a briefing in Malacañang, Neda Secretary Arsenio M. Balisacan said the 19 projects will draw P115 million from the Innovation Fund.

Balisacan said the Innovation Fund is a revolving fund that aims to strengthen entrepreneurship and enterprises engaged in developing innovative solutions.

“Innovation plays a critical

role in our pursuit for sustained and accelerated economic growth and development, as it serves as a catalyst for raising overall productivity and elevating the quality of our goods and services,” Balisacan said. “Only through a collective national effort can we truly pursue and attain these goals for our future.”

The project that received the largest funding was the Grassroots Innovation for Inclusive Development (GRIND): Bringing Science and Technology (S&T) closer to the Margins, with P15 million. This is

THE Makati Business Club (MBC) on Tuesday urged members of the Senate to ratify the Regional Comprehensive Economic Partnership (RCEP) which the business group said could help businesses expand abroad and accelerate job creation, among others.

“We believe joining RCEP is essential to this, as it will comprise 15 countries, 2.1 billion people, and around 30 percent of global [gross domestic product] GDP,” MBC said in a statement on Tuesday.

While the regional trade deal

would help the Philippines enter foreign markets, the local business group said it would also “expose” the country’s local industries to more competition at home.

“We recognize that there are valid concerns about this. However, we believe that adequate safeguards have been included,” the local business group said, adding that they believe competition will result in “better local players and better products and services for Filipinos.”

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PUSHING RCEP Socioeconomic Planning Secretary and NEDA Director General Arsenio Balisacan (right), joined by Presidential briefing officer Daphne Oseña Paez, fields questions from the Malacañang Press Corps on Tuesday (Feb. 21, 2023), in a last-ditch pitch for ratification of the Regional Comprehensive Economic Partnership (RCEP). PNA/REY BANIQUET

SAYING the benefits outweighed the oft-cited risks to certain local sectors, the Philippine Senate on Tuesday was expected to concur in the ratification of the Regional Comprehensive Economic Partnership (RCEP), the mega trade deal creating the world’s largest free-trade zone.

MBC. . .

Continued

The local business group said it welcomes the effort that the Administration, especially Trade Secretary Alfredo E. Pascual and the DTI have exerted to further RCEP.

With this, MBC is encouraging the Senate to give it “positive consideration.”

A part from MBC, other local business groups that have recently joined the call for the Senate to ratify the regional trade deal are Employers Confederation of the Philippines (ECOP) and Philippine Chamber of Commerce and Industry (PCCI).

Sergio Ortiz-Luis, president of ECOP, said that “among our ASEAN neighbors, we are at the tail end.”

H e said ratification by the Senate, which was reported to have set the voting on Tuesday, “will bring us competitive with others, at least to a certain degree.We can’t afford not to have trade agreements and, at the same time, to not be part of it,” he said.

Mean while, the PCCI called on the Senate anew to ratify the regional trade pact, which it said will play a “key role” in sustaining the Philippines’s “growth trajectory.”

In a lett er to Senate President Juan Miguel Zubiri, PCCI President George T. Barcelon said RCEP will “provide unparalleled opportunities for Philippine businesses and prime the country for further economic growth and development.”

T he PCCI head also cited the consequences of not participating in the regional trade deal, including putting the country’s exports at a disadvantage considering RCEP’s “growing area.”

F urther, he said not joining will be “detrimental to our goal to bring in foreign investments as investors would rather look at an RCEP signatory country to obtain preferential treatments among the RCEP countries.” Andrea E. San Juan

meant for protection—bears no comfort for the local sectors, because under the treaty, the Executive Department or Congress can change “tomorrow, next week, next month” the exclusion lists embodied in the annex of the RCEP. The annex is not considered a formal part of the treaty, he noted.

Minority Leader Koko Pimentel, the last to interpellate Zubiri, noted that initially, only 10 groups had openly objected to ratification, but now, he added, there are 100 groups and individuals who put out an ad rejecting ratification. He wondered aloud if their serious concerns about the treaty’s impact can be fully redressed.

Legarda conceded that “this is not a magic pill,” but added that, “only the industry can give positive changes.” RCEP or not, “we have to help affected sectors,” she stressed.

Neda chief: Only chance for FDI, jobs IN a separate development also on Tuesday, the National Economic and Development Authority (Neda) said RCEP “must be ratified” since the trade deal will ensure the country is able to attract investors to ensure the economy’s recovery.

In a virtual briefing, Neda Secretary Arsenio M. Balisacan said ratifying the RCEP will ensure that the country can compete with its neighbors in terms of attracting

foreign investments.

He said the country and its neighbors are competing to attract the same investments. Signing on to the RCEP improves the country’s chances of seeing those investments come to the Philippines.

Based on 2021 trade data from the International Trade Center, under the RCEP, only 15 agricultural commodity groups corresponding to 33 tariff lines will have lower tariff rates compared to some ASEAN+1 FTAs,  the NEDA said.

This is equivalent to only 1.9 percent of the total 1,718 agricultural lines and only 0.8 percent of the total agricultural imports. Of these 33 tariff lines, 17 are raw materials, 8 are intermediate products, while only 8 are final goods.

The remaining agricultural tariff lines will have equal or higher rates compared to other ASEAN+1 FTAs, or are excluded from import tariff concessions under the RCEP.

The Philippines currently exports a number of products for which concessions were secured (e.g., preserved pineapples, pineapple juice, chocolate) and securing better market access for these products through RCEP opens the possibility to further widen the market base in these countries.

Take it or leave it

EARLIER on Sunday, Escudero had said the vote ratifying the RCEP should not be rushed, as senators are closely studying serious concerns raised about the risk of the treaty adversely impacting some Philippine economic sectors.

It’s a “take it or leave it” propo -

sition, because “we senators can only vote to ratify or reject the treaty,” and “it’s not the usual lawmaking we do where we can tweak provisions to cure perceived problems,” Escudero explained, partly in Filipino, in a radio interview.

Sixteen senators last week signed the committee report on RCEP, and no less than Zubiri delivered an impassioned speech on the urgency of ratifying it,  as Legarda sponsored the report in plenary. Legarda heads the   foreign relations subcommittee that held hearings on the treaty creating what has been billed as the world’s largest free trade area.

According to Escudero, “all we[senators] can do” is to secure a firm assurance at every step from the Executive that, being the implementing arm, it will always make sure no Philippine sector is unduly  harmed when the country starts complying with its treaty obligations.

Zubiri had indicated a timeline for the Senate vote to ratify the RCEP before the March 24 adjournment of Congress, noting in his speech that, by its failure so far to ratify, the Philippines is “the odd man out, the last man standing” among countries that earlier signed onto RCEP.

However, Escudero said, senators must be given the chance to thresh out all serious concerns raised about the treaty, with no less than the President’s sister, Sen. Imee Marcos, earlier asking aloud, why the chamber is being stampeded into rushing ratification on the ground that the Philippines is the only one that has not done so.

RCEP ensures investments, jobs

AT the Palace briefing, Balisacan said RCEP “must be ratified” since the trade deal will ensure the country is able to attract investors to ensure the economy’s recovery.

Balisacan said ratifying the RCEP will ensure that the country can compete with its neighbors in terms of attracting foreign investments.

He said the country and its neighbors are competing to attract the same investments. Signing on to the RCEP improves the country’s chances of seeing those investments come to the Philippines.

“It must be ratified. It must be ratified.

A lot of the future of this country, of our country, depends so much on our ability to attract investors, particularly foreign capital because domestic capital is not enough,” Balisacan said.

“Without those investments, massive investments, you can’t expect to generate highquality jobs—that’s plain and simple. We need a lot of investments,” he added.

Balisacan also said, given the limited fiscal space of the national government, the only way the country can maintain its growth is to get more investments.

“The only way we can grow and maintain our growth at the rate we have experienced last year is to get investments, players that can build infrastructure for us, build plans and equipment for us so that jobs can be created,” he stressed.

Balisacan also reiterated his stand that the RCEP will not have a negative impact on the agriculture sector. He pointed out that all the challenges in the agriculture sector stemmed from “past neglects of the sector.”

Earlier, Neda said that 2021 trade data from the International Trade Center showed under RCEP, only 15 agricultural commodity groups corresponding to 33 tariff lines will have lower tariff rates compared to some ASEAN+1 FTAs.

This is equivalent to only 1.9 percent of the total 1,718 agricultural lines and only 0.8 percent of the total agricultural imports. Of these 33 tariff lines, 17 are raw materials, 8 are intermediate products, while only 8 are final goods.

The remaining agricultural tariff lines will have equal or higher rates compared to other ASEAN+1 FTAs, or are excluded from import tariff concessions under the RCEP.

“The very low productivity of agriculture has nothing to do with RCEP. In fact, my view is that by adapting RCEP, we are ratifying RCEP, we’ll be even more forced to pay attention to agriculture because only then can you fully maximize the benefits that RCEP can give to us,” Balisacan said.

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tax cut and higher OFW remittances, especially in pesos, due to expected peso weakening, should provide additional boost to those drivers,” the think tank said.

Other economic indicators such as imports are expected to ease in the first quarter while exports could fall behind due to the recession. This, however, will keep the country’s trade deficits above $4 billion per month.

The peso is expected to depreciate as the US Federal Reserve is seen to hike policy rates more aggressively to address high inflation.

IMF: Growth outlook brighter

MEANWHILE , the growth outlook across Asian economies, including the Philippines, is expected to be brighter this year, according to the International Monetary Fund (IMF).

IMF’s Krishna Srinivasan, Thomas Helbling and Shanaka J. Peiris said global financial conditions have eased, high food and oil prices are easing, and China’s economy is rebounding.

The region’s emerging and developing economies are seen to grow 5.3 percent this year and drive the dynamism in the region. These economies, the IMF added, are hitting their stride as pandemic supply-chain disruptions fade and the service sector booms. “China and India alone are expected to contribute more than half of global growth this year, with the rest of Asia contributing an additional quarter. Cambodia, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam are all back to their robust pre-pandemic growth,” the IMF said.

The IMF sees the growth of the Philippine economy to average five percent this year before increasing to 6 percent next year. The expected growth for emerging market and developing economies is 5.3 percent in 2023 and 5.2 percent in 2024.

The IMF was also optimistic that inflation is easing and will soon go back to central bank targets. Currently, however, core inflation is “proving more persistent” than headline inflation.

Core inflation, which excludes certain highly volatile food and non-food items, posted a 7.4 percent growth. The Philippine Statistics Authority (PSA) said this inflation rate was the highest since April 1999 when inflation reached 7.6 percent.

“Central banks in Asia have been hiking interest rates as they tackle above-target inflation. These factors have helped Asian currencies rebound, with most erasing about half of last year’s losses, which has eased pressure on domestic prices,” the IMF said.

However, IMF said that for the long-term, there are challenges. Most notable are the downgrade in the medium-term growth prospects for China and the fiscal deficits incurred by countries during the pandemic.

IMF said these deficits were incurred due to high public debt burdens. The authors also said these make Asian countries vulnerable to risks such as significant bank exposure to real estate downturns. Cai U. Ordinario

NIC. . .

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a project of Department of Science and Technology (DOST) Region XI.

This was followed by four projects that received P7.5 million each. These include the Farmers Information and Technology Service Center (FITS) Innovation Program of the Provincial Government of Camiguin and the Information System on Transport Operation in Puerto Princesa (ISTOPP) of the City Government of Puerto Princesa.

The list of projects include the Building Roadmaps for Resilient Philippine Creative Cities of the Department of Trade and Industry (DTI) Competitiveness and Innovation Group; and the Exploring and Mainstreaming the Use of Natural Water Treatment Methods to Improve Drinking Water Quality of the Department of Interior and Local Government Central Office.

Other projects that received over P7 million in funding are the Cavite Product Innovation Program for MSMEs of the Provincial Government of Cavite, which received P7.49 million, and the i-LINK: Integration of Localized Maritime Information Systems for a Comprehensive Nautical Knowledge Base of the University of the Philippines Diliman, P7.45 million.

The list includes the Naga City Startup Ecosystem Development Program of the Naga City Startup Ecosystem Development Program which received P7.45 million and the BARACO-Batangas Animal Movement Reporting Approach to Control Diseases of the Provincial Government of Batangas, P7.05 million.

Projects that received over P6 million were the Enhancing the Capacity of the Renewable and Sustainable Energy Technologies (ReSET) Center using Local Innovation for Smarter and More Resilient Community-based Renewable Energy Microgrids of DOST Region XI worth P6.76 million and the Pilot Testing and Commercialization of Micro Impeller Rice Mill of the Department of Agriculture (DA) Philippine Center for Postharvest Development and Mechanization with P6.03 million.

P rojects that received over P5 million were the Vizcaya Optimization of Incubation Centers for Economic Sustainability (VOICES) of the Provincial Government of Nueva Vizcaya with P5.575 million; and the Water Collection System with Treatment Facility at Brgy. Yabawon and Tan-Ag of the Municipality of Banton, Romblon with P5.73 million.

Projects with funding of below P5 million were the Establishment and Operationalization of Ilocos Norte MSME Incubation Center (IN-MIC) of the Provincial Government of Ilocos Norte with P4.28 million; Implementation of Innovation, Science and Technology for Accelerating Regional Technology-based Development (iSTART) Program with Indoor Farming Technology of DOST Region VIII, P3.049 million; and Project SciNing-Cultivating Ingenuity, Creativity and Awareness through Experiential Learning, Innovations and Promotions of the DOST Technology Application and Promotions Institute, P3.8 million.

Other projects are the Industrial Designing and Finalization of Production Drawings for the Commercialization of BUHAWI of the DOST Metals Industry R&D Center, P2.289 million; Establishment of PCHRD Health Research and Technology Innovation Hubs (HeaRTNovation Hubs): Expanding the TEKI in Health Program among Health Institutions of the DOST Philippine Council for Health Research and Development, P2.62 million; and the Improvement of the Single Row Push-type Plot Seeder with Mechatronic Seed Feeding Device for Corn (Zea Mays L.) Field Breeding Experiment of the South Cotabato State College which received the smallest grant of P281,650. “Majority of [these] sought to address the pre-commercialization and commercialization requirements of innovative products or services, the enhancement of innovation facilities and services, and the conduct of capacity-building activities,” Balisacan said.

However, Neda said six of these projects did not proceed: BARACO or the Batangas Animal Movement Reporting Approach to Control Diseases; the Pilot Testing and Commercialization of Micro Impeller Rice Mill; and the Building Roadmaps for Resilient Philippine Creative Cities.

O ther projects that did not proceed are the Exploring and Mainstreaming the Use of Natural Water Treatment Methods to Improve Drinking Water Quality; Cavite Product Innovation Program for MSMEs; and i-LINK: Integration of Localized Maritime Information Systems for a Comprehensive Nautical Knowledge Base.

On Tuesday, Balisacan also said the Council has established 10 National Innovation Priority Areas under its Framework of the National Innovation Agenda for 2032. These areas are Learning and Education, Health, Food and Agriculture, Finance, Trade, Transportation and Logistics, as well as Public Administration, Security and Defense, Energy, and Blue Economy and Water. Cai U. Ordinario

The Nation

PA holds simultaneous exercises with US, Australia counterparts

By Rene Acosta @reneacostaBM

THE Philippine Army (PA) be-

gan its separate exercises with American and Australian forces as the military beefed up its training and partnership with its allies.

T he 7th Infantry Division (ID) and the United State Army’s 5th Security Force Assistance Brigade (5SFAB) kicked off the PhilippinesUnited States Warfighting Functions Exchange 2023-1 (WFE 23-1) at the headquarters of the 7th ID in Fort Magsaysay, Nueva Ecija.

Col. Eugene Mata, chief of staff of the 7th ID, highlighted the significance of enhancing the knowledge and skills of PA personnel on warfighting skills during the exercise’s opening ceremony on Monday.

T he PHL-US WFE is aimed at meeting mutual training and modernization objectives of both forces across the warfighting functions domain and other training needs through an exchange of best practices, lessons learned, tactics, techniques and procedures of PA troops with their US counterparts.

T he 71st Division Reconnaissance Company; Alpha Company, 99th Infantry Battalion; 1st Brigade Combat

Team; and Alpha Company, 103rd Infantry Battalion of the 5th Infantry Division also joined the training, which will run until March 3.

A rmy spokesman Col. Xerxes Trinidad said the iteration would serve as the sustained warfighting enhancement and evaluation program (SWEEP) of the participating Army units and a training for the upcoming US-Philippines Salaknib and Balikatan military exercises.

Meanwhile, the 6th Infantry Division based in Maguindanao also kicked off the Philippine-Australia Army-to-Army Exercise (PAAAE) 23-1 with the 6th Battalion of Royal Australian Regiment, Australian Defence Force.

T he PAAAE 23-1 seeks to enhance the capabilities and skills of personnel in urban operations; long-range marksmanship; tactical combat casualty care; intelligence, surveillance and reconnaissance operations; and small unit leaders training through the exchange of techniques, tactics and procedures.

Trinidad said elements of the 62nd Division Reconnaissance Company (DRC), 63rd DRC and the 6th Battalion Royal Australian Regiment would undergo the training until March 31.

PBBM urged to ‘reconsider’ stand on Constitutional revision proposal

By Jovee Marie N. Dela Cruz @joveemarie

ASENIOR lawmaker on Tuesday urged President Ferdinand R. Marcos Jr. to “reconsider” his position on constitutional reform in order to sustain the country’s high economic growth on his watch with bigger foreign direct investment (FDI) inflows.

Camarines Sur Rep. LRay Villafuerte, a lead proponent of a measure—House Bill (HB) 4926—endorsing Charter change via the ConCon route, issued the statement after the House Committee on Constitutional Amendments approved by a 17-3 vote with one abstention of a still unnumbered Resolution of Both Houses (RBH), seeking the election of delegates to study and propose reforms to the 1987 Constitution.

T his committee, chaired by Cagayan de Oro City Rep. Rufus Rodriguez, voted for the bill last Monday after holding  several regular meetings and public hearings in various parts of the country on pending proposals to amend the Constitution either by a duly elected Consti-

tutional convention (Con-Con) or by the Congress convening itself into a Constituent Assembly (Con-Ass).

“ We are hoping that the committee vote for our Con-Con proposal would clear the way to its swift plenary  approval by the House,” Villafuerte said. “It is our hope, too, that with this panel vote, President Marcos would reconsider his position on Charter change.”

V illafuerte recalled that during  the recent grand opening of the New Terminal Building of the Clark International Airport in Pampanga, President Marcos said that “we will do everything” to nurture strong partnerships between his administration and potential investors.

“Given that the 60-40 ownership cap in our Constitution is apparently one deal breaker that has turned off foreign investors despite the investment-grade ratings of the Philippines for over a decade now,” said Villafuerte,  “we believe that giving priority to Charter change to take out this restrictive economic provision is one of the must-do’s that the President could consider to foster stronger partnerships

DOJ chief vows more reforms to improve PHL criminal justice prosecution system

By Joel R. San Juan @jrsanjuan1573

JUSTICE Secretary Jesus Crispin Remulla has vowed to introduce more reforms to improve the country’s judicial system, particularly in the conduct of investigation and prosecution of crimes.

Part of these reforms was Remulla’s issuance last Tuesday of Department of Justice (DOJ) Circular No. 011 that puts cap on the bail amount for indigents facing criminal court proceedings except for crimes punishable by death, reclusion perpetua or life imprisonment.

T he new circular, which took effect immediately, will cut into half any bail bond amount being implemented by prosecutors based on the 2018 Bail Bond Guide and will put a cap on the bail amount P10,000 for qualified indigents.

Under the DOJ guidelines on the recommendation of bail amounts in criminal information, if  the person undergoing preliminary investiga-

THE House Committee on Dangerous Drugs on Tuesday started hearing the controversial measure legalizing cannabis for medicinal use.

H ouse Bill 6783 authored by former Speaker Pantaleon Alvarez seeks to remove cannabis or marijuana from the list of illegal drugs and substances. Delisting the weed will legalize its medicinal use.  House Committee on Dangerous

tion or inquest proceedings claims to be indigent and has no record of being delinquent or recidivist, he or she is required to submit certificates of indigency from the Department of Social Welfare and Development (DSWD) and from the chairperson of his or her barangay.

Remulla said he expects the  new circular to significantly  decongest the country’s jail and detention facilities when implemented along with Department Circular No. 008A, which was issued last February 10.

T he circular compels prosecutors to only file cases with “reasonable certainty of conviction” based on material evidence and witnesses.

Prior to this, investigating prosecutors recommend the filing of criminal cases against respondents in criminal cases upon the finding of probable cause.

T he DOJ said the filing of weak cases contributes to  the congestion problem in jails and detention facilities.

“ There are other reforms that we

Drugs Chairman Robert Ace Barbers, however, clarified that the bill does not allow the recreational use of cannabis, but will only allow its use for “medicinal purposes.”

Recently, more and more countries are easing regulations on the said drug for medicinal purposes. Other countries have already allowed its recreational use. For our purposes, we will limit it for medicinal purposes,” Barbers explained. It is just a matter of time before

will be implementing within the next few weeks concerning our judicial system,” Remulla said.

He also disclosed ongoing discussions to establish the so-called case build-up rule where prosecutors are allowed  to leave their offices and go with the police during evidence gathering and interview of witnesses.

T he DOJ secretary said the set-up is similar to the US District Attorney (DA) system.

Actually, our aim here is similar to the DA system. It’s more like a blue-collar job since there is really a need for the prosecutor to go out of the office to personally see the crime scene, talk to the people to ensure that you have strong basis to file a case,” the DOJ chief explained.

Remulla stressed that  the filing of cases should not be treated as a contest among policemen on who has the highest number of cases filed in courts but rather to ensure that cases filed have enough basis to secure a conviction of the accused.

Prior to this, Remulla announced

we are deluged with calls to open our eyes and minds to the latest scientific developments now benefiting humanity. There is growing evidence that cannabis oil and other derivatives are helping seriously ill patients, both young and old, who are otherwise considered helpless and unproductive for the rest of their lives. If our chemical heavy pharma couldn’t find the cure to these illnesses, why would we stand in the way and deprive the

with prospective investors leading to greater FDI inflows.”

That the 60-40 ownership cap has apparently been a damper on foreign investor appetite is borne out, he said, by official data pointing to continued weak FDI inflows despite our country’s investmentgrade ratings and status as one of Asia’s  economic over-achievers,” the lawmaker said.

C iting Bangko Sentral ng Pilipinas (BSP) data, Villafuerte noted that FDI inflows retreated by over 13 percent over the January-November 2022 period to $8.43 billion from $9.74 billion in the same period in 2021.

He said even President Marcos’ economic managers apparently see no significant reversal of this FDI downtrend in the near future as they had reportedly slashed their FDI target for 2023 to $11 billion from the original $12.5 billion.

Earlier, Villafuerte had pointed out that despite a troika of businessfriendly laws signed during the previous administration, FDI inflows have not been as large as those streaming to our Southeast Asian neighbors

because our inward-looking Constitution prohibits foreigners from taking full control of Philippine corporations and owning lands needed for their local  businesses.

Hence, he said,  a Con-Con comprising duly elected delegates is the more feasible route, in lieu of the ConAss option, as he asserted on TV that the House would go ahead on this latest Charter change initiative even if the President claimed recently that amending our Constitution is not one of his administration’s priorities.

Villafuerte said the House is targeting to make a final decision on this matter before the year is over, “and maybe we can have a plebiscite by the first quarter of next year.”

Villafuerte pointed out that the best time for Charter change to happen is right now at the start of the Marcos presidency when such an initiative wouldn’t raise doubts about a possible hidden agenda to extend terms of incumbent elective officials. HB 4926 calls for the election of Con-Con delegates at one representative per legislative district. There are currently 243 congressional districts in the country.

Rizal, Quezon IPs receive ‘disturbance fees’ for Kaliwa Dam project–MWSS

that  around 35 medical doctors and several prosecutors will be part of a class that will undergo training in the field of  forensic pathology and investigative work in relation to wrongful death cases.

T he training class will be  part of the forensic program that  United Nations Special Rapporteur on extrajudicial, summary or arbitrary executions Dr. Morris Tidball-Binz is expected to launch upon his return to the country either in May or August.

D r. Morris Tidball-Binz visited the country last February 6 to February 9 to help capacitate Filipino doctors  and enhance their practice to achieve international standard practices, particularly in conducting autopsies.

Remulla  admitted that forensic pathology is one of the important things that have been neglected in the part under the legal system.

T he training, according to Remulla, will ultimately boost the government’s capacity to handle and probe cases of wrongful or untimely deaths.

afflicted of relief and enjoyment of their lives,” Barbers said.

T he lawmaker said it is about time that the Congress looks at the positive side of cannabis.

If there is a good side to it, then by all means we should consider it. Look at the substance amphetamine, a major component of shabu. It is a critical component or ingredient of many medicines now being consumed worldwide,” Barbers said.

Jovee Marie N. Dela Cruz

NOT even a morning drizzle can stop the residents of Manila’s 6th Legislative District who flocked to Vice Mayor Yul Servo Nieto’s medical mission on Sunday, February 19, at Barangay 873  in Sta. Ana, Manila.

It was Nieto’s 10th Medical Mission since being elected for his first term as Manila vice mayor.  Over 11,000 Manila residents have already benefited from his previous medical

outreach programs. “ Health concerns affect everyone, but bringing health services to the poor remains a challenge for public servants. It is my desire to help lessen the health burdens of poor Manila residents, which is why we are redoubling our efforts to reach as many barangays as we can with our medical missions,” Nieto said.

To ensure the success of his

health outreach program, the Manila Vice Mayor’s Office has partnered with other Manila City government offices, the Philippine Coast Guard, and private professional and business groups, among others. Apart from providing free medical and wellness services, last Sunday’s medical mission also served free food and distributed a kilo of rice to Manila residents. Volunteer doctors gave free

general health check-ups, and performed minor surgery. Dental care services were also provided by the mission’s volunteer dentists. Patients found to be needing eyeglasses by the mission’s volunteer doctors got their eyeglasses for free. Other patients availed themselves of the mission’s free laboratory services such as blood sugar screening and urinalysis.

Patients Belinda Castro and

LEADERS of Dumagat-Remontado indigenous groups in Rizal and Quezon provinces received Tuesday over P160 million worth of “disturbance fees” for the construction of the P12.2-billion New Centennial Water Source-Kaliwa Dam Project (NCWS-KDP).

I n an interview on the sidelines of turnover rites, Metropolitan Waterworks and Sewerage System (MWSS) Administrator Leonor Cleofas said that through the National Commission on Indigenous Peoples (NCIP), each indigenous people organization (IPO) of Tanay and General Nakar got P80 million in disturbance fees under the memorandum of agreement (MOA).

Cleofas said the NCIP will supervise the implementation of the livelihood programs and projects of these IPOs.

She added the agency has been cooperating with the local government

Anna May Calderon, who are both residents of Manila’s Sixth District, thanked Vice Mayor Nieto for the medical  mission.

“Malaking tulong talaga itong programa ni vice mayor para sa aming kalusugan lalo na ngayong panahon na mahirap ang pera,” they said.

For its wellness and other services, the mission gave free massage, facial, haircut, aliskuto and anti-rabies vaccination

of General Nakar in the last six years for the employment of IP communities in the preservation and protection of the watershed in the area.

During the turnover rites, Cleofas said the amount of disturbance fees are deposited in the Land Bank (LandBank) of the Philippines accounts of the IPOs.

She also expressed her elation over the turnover as this can lead to the continuation of the construction of the Kaliwa Dam.

At the end of 2026, the Kaliwa Dam will start operations and it will be fully operational by January 2027,” she said.

C leofas said the MOA provides that the 36 IP communities in General Nakar and 10 IP communities in Tanay will be entitled to P1 million each in financial assistance every year once the Kaliwa Dam starts full operations in 2027. PNA

to registered participants. The mission also provided free legal consultation and assisted those who needed help with their Civil Registry and national ID concerns, among others.

Patient Ma. Nelia Sapulmo, a resident of District 6, thanked the vice mayor and those involved in the medical mission.

“Maraming salamat po Vice Nieto at sa inyong lahat na kasama sa programang ito.  Sana tuloy tuloy lang ito.”

Vittorio V. Vitug

PSMA rejects proposal to import molasses for bioethanol production

By Jasper Emmanuel Y. Arcalas @jearcalas

LOCAL sugar millers are opposing the proposal of certain quarters to allow more imports of molasses, arguing that domestic production, which has been on an “upswing,” is more than enough to meet demand for the bioethanol ingredient that remains tepid.

T he Philippine Sugar Millers Association Inc. (PSMA) on Tuesday said the country has sufficient molasses supply, which continues to build up, to meet domestic bioethanol production requirements.

There is no reason to import mo -

lasses for bioethanol. Local molasses production is on the  upswing, and our demand has been soft and slow,”

PSMA Executive Director Jesus L. Barrera said in a statement. Molasses inventories are building up that there has been an overflow in molasses tanks in some mills in recent months,”

Barrera added.

T he PSMA made the statement after a local news outfit reported that a certain group is lobbying that the government allow more imported stocks of molasses for bioethanol production due to a shortage in the local molasses supply.

B arrera argued that the coun -

DTI-BPS orders destruction of ₧737K worth of substandard wires and cables in Marikina

By Andrea E. San Juan

THE Department of Trade and Industry (DTI), through the Bureau of Philippine Standards (BPS), has ordered the destruction of P737,000 worth of thermoplastic insulated wires and cables in Marikina City to prevent the sale and distribution of these substandard electrical wiring materials in the local market.

A ccording to the BPS, the Philippines’s national standards body, the substandard products were found “non-conforming to the elongation and flame retardance requirements” set by the Philippine National Standards (PNS) 35-1:2004 (electric wires and cables-thermoplasticinsulated copper wires and cables rated 600 volts-Part 1: General specifications) as confirmed by the third-party testing.

T he standards body described elongation as the measure of the length that a wire may be stretched before snapping, while flame retardance is a wire’s capacity to prevent a flame from spreading once it catches fire.

A ccording to DTI-BPS, it witnessed the destruction of the substandard wires and cables at the manufacturer’s warehouse in Marikina City on January 18, 2023 and February 9, 2023.

Some of these substandard wires and cables, BPS said, were cut on the top, middle, and lower portions of the rolls, while some were peeled and the bare copper were cut to noncommercial size by the manufacturer’s authorized representatives prior to disposal.

T he thermoplastic insulated electric wires and cables are listed under the lighting and wiring devices that the standards body placed under mandatory certification.

A ccording to BPS’ web site, part of its mandate, as provided in the Consumer Act of the Philippines, is to protect consumers against hazards to health and safety as well as to assure the public of the consistency of standardized products in the market.

Further, to carry out its mandate, the national standards body provides for the standardization and certification of products, both locally manufactured and imported, giving the consumers access to quality and safe products conforming to the relevant Philippine National Standards (PNS).

Currently, the BPS implements two Mandatory Product Certification Schemes: the Philippine Standard (PS) Quality and/or Safety Certification Mark Licensing Scheme and the Import Commodity Clearance (ICC) Certification scheme.

try’s molasses stocks have been higher compared to previous crop year’s level.

Citing Sugar Regulatory Administration (SRA) data, Barrera said as of January 29, the country’s molasses output was at 471,046.18 metric tons (MT), 3.38 percent higher from last season.

Meanwhile, molasses demand has been down by 17 percent on an annual basis to 349,509 MT, Barrera added. Given the supply situation, Barrera noted that the country has a standing molasses inventory of 262,893 MT, which continues to increase to date.

We have sufficient supply.

Sarangani secures ₧1-billion LandBank loan for projects

resilient structures.

There is no national emergency or shortage of molasses. We do not need to import more molasses specifically for bioethanol production,” he said.

T he PSMA noted that last year the country imported 608,310 MT of molasses for potable alcohol and animal feeds, up by 80 percent from 2021 level. Last month alone, the country imported 88,702 MT of molasses, about 80 percent higher than the 49,145 MT recorded import volume in January 2022, the group added. Molasses is a by-product of sugar refining that serves as a raw material for bioethanol production.

20K Aklan farmers to benefit from FMR concreting projects

By  Jonathan L. Mayuga @jonlmayuga

THE Department of Agrarian Reform (DAR) and Department of Public Works and Highways (DPWH), together with the local government units (LGU) of Aklan, will start the concreting projects on five farm-to-market (FMR) roads in the province.

T he FMR improvement projects will directly benefit some 20,000 farmers through ease of transporting their agricultural products to trading centers.

DA R Secretary Conrado Estrella III, with Aklan 2nd district Rep. Teodorico Haresco Jr.: Jesry T. Palmares, Undersecretary for Foreign Assisted and Special Projects Office (FASPO); and Atty.

Sheila Enciso, DAR Western Visayas regional director, led the project’s groundbreaking ceremony recently.  Eliserio S. Aguelo, an agrarian reform beneficiary (ARB) from Barangay Naile said the FMRs would pave the way for the farmers to immediately transport their products to the market. Farmers and residents will no longer have to travel on muddy and slick roads just to go to the town proper. Finally, our dream was realized. Thank you

to the DAR,” Aguelo said in a statement.

E strella said the construction of the FMR is in compliance with the directive of President Ferdinand R. Marcos Jr. to extend the necessary support services to the farming sector to resuscitate the country’s agriculture industry by improving the flow of food supply. This project will change the lives of the ARBs, it will help them gain better prices for their products to improve their income and livelihood,” he said.

T hrough the FMRs, ARBs would have the advantage of not only experiencing reduced transportation costs and travel time but they will be experiencing faster delivery of various support services from the government, Enciso said for her part. She disclosed that the FMRs include the P10 million concreting of Brgy. Naile, proper in Ibajay; the P20 million concreting of Tagaroroc FMR in Brgy. Tagaroroc, Nabas; the P10 million concreting of Sta. Cruz-Biga-a in Brgys. Sta. Cruz and Biga-a, Lezo; the P10 million concreting of Aliputos in Brgy. Aliputos, Numancia; and the P10 million concreting of Dangcalan in Barangay Dangcalan, Malinao.

By Manuel T. Cayon @awimailbox

Bureau Chief

Mindanao

DAVAO CITY—Sarangani has

sealed with Land Bank of the Philippines (LandBank) a P1billion loan to fund the acquisition of heavy machinery and hospital equipment for the province.

T he deal was signed on February 2 in the capital town of Alabel, with LandBank principal signatories Charlotte Conde, senior vice president and Mindanao lending group head and Eden Japitana, vice president and General Santos City Lending Center head.

G overnor Rogelio D. Pacquiao and Provincial Administrator Atty. Ryan Jay Ramos signed in behalf of the province.

T he loan will fund the province’s developmental projects, particularly the P500-million acquisition of several heavy equipment, P200million for hospital and medical equipment, and P300 million to establish the proposed Provincial Agri-Fisheries Complex.

This will capacitate the provincial government and the current administration to provide and deliver more public services and expand the government’s efforts, especially to the Sarangani residents who live in the margins,” the provincial government said.

C onde said the P500-million for heavy equipment acquisition would pave the way for reliable road connections and disaster-

T he P200 million for the hospital equipment would scale up the capacity of the Sarangani Provincial Hospital to operate as a medical center, while the P300-million agri-fisheries complex would help in expanding small and medium scale fisherfolk and consumer markets, he explained.

Conde said the LandBank was “so far the shortest approval that we ever got for the provincial government of Sarangani.” The loan was approved in one week.

This agreement is a milestone in LandBank’s continuous assistance to Sarangani province and it is my pleasure to formalize this renewed partnership that will help address the major constraints concerning basic and social-economic infrastructure,” Conde said.

Pacquiao thanked LandBank “for the resounding hope of confidence.”

“ This will inspire us to keep serving in excellence knowing that we have reliable partners in our local endeavors,” he said.

Our collective dream of having our own fishport facility will soon come to completion, and this will promote the agri-fishery industry, especially in our coastal towns. It will also fast track our infrastructure projects in order to deliver reliable and modern health services to those in need,” he added.

This is not just a loan contract; this is an investment for the future of our people. This agreement signals the dawn of a modern and progressive Sarangani province,” Pacquiao said.

By Lorenz S. Marasigan @lorenzmarasigan

THE Philippines’s total shift to digital television (TV) standard for 2023 is “still tentative,” according to the National Telecommunications Commission (NTC).

N TC Commissioner Ella Blanca Lopez said in a chance interview that while the agency targets to meet its deadline for the shutdown of analog television this year, she acknowledged that this would be a moving target. We are still looking at this year, but this is still tentative,” she said. “It will be hard to conduct the shut-

down because the whole country is not yet digital-ready.”

W hen asked how the country is faring in terms of digital TV penetration, Lopez said the Philippines has yet to reach the 50-percent mark, citing difficulties in markets outside Metro Manila.

“ The penetration rate in Metro Manila is relatively high, but the penetration rate in the regions is still low. So the provinces are not yet ready,” Lopez said.

T he government started the shift towards digital television in 2013 when the NTC chose the Japanese standard over its European standard due to its cost and built-in warning system.

THE National Telecommunications Commission (NTC) and the Philippine Statistics Authority (PSA) are set to roll out caravans for both the subscriber identity module (SIM) registration and the National ID program of the government.

D uring a Laging Handa briefing on Tuesday, Department of Information and Communications Technology (DICT) Undersecretary Anna Mae La -

mentillo said the partnership would target geographically isolated and disadvantaged areas (GIDA).

“ We are continuing assisted registrations in several parts of the country as we aim to reach even those in GIDAs,” Lamentillo said.

T he DICT, she said, is also working with local government units (LGUs) and will continue grassroots information campaigns on the SIM registration. PNA

Full shift to digital TV standard in ’23 ‘still tentative,’ NTC’s Lopez admits

MBC backs PBBM’s push for creation of WRMO

By Andrea E. San Juan

THE Makati Business Club

(MBC) has thrown its support behind President Ferdinand R. Marcos Jr.’s decision to issue a new executive order (EO) for the creation of the proposed Water Resources Management Office (WRMO) to boost water supply across the country.

We believe the WRMO will help address urgent issues, even as we encourage Congress to pass a law creating an even more effective Department of Water,” MBC said in a statement issued on Tuesday. The MBC also noted there are as many as 30 agencies with water-related mandates, which, it said, are slowing down upgrades and expansion.

Citing the National Economic and Development Authority (Neda) and the Philippine Water Supply and Sanitation Masterplan (PWSSMP), MBC said 45.2 percent of the population relies on point sources (e.g., springs, rivers, streams, wells, peddlers, and other sources) that are susceptible to contamination.

Of the 54.8 percent who had access to safe water supply, only 15 percent to a piped distribution network, and 11.2 percent relied on communal faucet systems, MBC noted.

Further, according to MBC, Neda said to achieve Sustainable Development Goal 6—clean water and sanitation for all—by 2030, yearly investments of P132 billion are needed. However, MBC said the current rate is in the “single digits.”

The business group stressed, “Most water service providers are unable to deliver adequate services to a growing population due to financial, technical, efficiency, and coverage issues.”

Further, MBC said the situation is expected to reach “critical levels” by 2040 if the sector remains “stagnant.”

“ The 1995 Water Crisis Act helped address the situation at that time, including the awarding of Metro Manila concession agreements to private sector players in 1997, leading to vastly improved and expanded services in the capital,” MBC said.

With this, MBC said, “We are confident that a WRMO and a Department of Water can do the same for the current crisis.”

L ikewise, the European Chamber of Commerce of the Philippines (ECCP) said in a statement last week it welcomes the creation of the WRMO as a transitory body pending the creation of a Water Resource Department.

T he foreign business group said the creation of the WRMO is a “welcomed first step in fully realizing this as it aims to strengthen collaboration among various agencies in implementing water management programs in accordance with the Integrated Water Management Plan.”

ECCP underscored the need to approach water resource planning using Integrated Water Resource Management (IWFM), which it described as an “internationally recognized” framework that is used to guide countries in their journey to water security.

T his is based on the idea that water issues should not be approached in “isolation,” but rather in a “more holistic” manner due to the interdependence of the uses of finite water resources, the business chamber explained.

T hree weeks ago, the Presidential Communications Office (PCO) said President Marcos ordered the formation of the WRMO during a multi-sectoral meeting in Malacañang to consolidate water management efforts of all concerned government offices.

PCO said the core task of WRMO would be to formulate and ensure the implementation of the Integrated Water Management Plan of the Metropolitan Waterworks and Sewerage System, Local Water Utilities Administration, and the Department of Environment and Natural Resources.

DOT sees domestic trips recovering to 122M in 2023

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

THE Department of Tourism (DOT) sees the full recovery of the domestic travelers business this year, and the international arrivals in 2024.

In her first meeting with the multiagency Tourism Coordinating Council (TCC) on Monday, Tourism Secretary Christina Garcia Frasco presented a draft of the National Tourism Development Plan (NTDP) for 2023-2028, a blueprint of strategies and projects for the country to be able to reach annual domestic and international tourist arrivals along with the foreign and local visitors receipts.

Even as the pandemic set back our gains, the momentum for recovery and growth is already here. We see domestic tourismrecoveringto2019levelsthisyear, and international tourism next year,” she said. In 2019, domestic trips reached some 122 million, generating expenditures of P3.1 trillion. Foreign tourist arrivals that year hit an historic-high of 8.26 million with receipts reaching P482.15 billion.

A s community quarantine levels eased, Filipinos started traveling around the industry, and helped prop up the tourism industry. The hotel sector recently reported that occupancy levels have hit 80 percent largely due to domestic tourists. (See, “15 hotels, spas in Metro Manila win Forbes’ Star Awards,” in the BusinessMirror, February 20, 2023.) No domestic

tourism data is available yet for 2022.

The TCC was created by Republic Act 9593 (Tourism Act of 2009) and is composed of 25 government agencies, with the DOT serving as its chair. It serves a coordinating body to discuss policies and efforts to push the development of the tourism sector.

During the meeting held at the Philippine International Convention Center, Frascooutlinedtheprogramsandprojects currently being implemented to improve the traveler’s experience. Among these are the construction of tourist pit stops, the incorporation of the “Filipino brand” at the nation’s airports, and internet connectivity in 94 tourist destinations.

Projects in the pipeline include a onestop-shop app for tourists to be able to book their visits to the Philippines, a

BOI and Cavite ink accord on ease of doing business

THE Board of Investments (BOI) said it has recently inked an agreement with the provincial government of Cavite in a bid to further “make it easier” for investors to do business in the province.

U nder the memorandum of agreement (MOA), BOI said the Cavite local government unit would provide “updated and relevant” information to the BOI such as investment profiles, priority areas and other opportunities.

Further, the investment promotion agency said Cavite would also establish a “green lane” for BOI-registered firms to fast-track the processing of projects.

For its part, the BOI said it would provide

Cavite with technical support on investmentrelated matters such as consultations and workshops and link up the province with potential local and foreign investors.

“

With this strengthened partnership, the province becomes more attractive to both foreign and local investors,” Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo said, adding Cavite has been “consistently” one of the most progressive provinces in the country as evidenced by more and more businesses locating in the province in addition to its upward ranking in the 2022 Cities and Municipalities Competitive Index.  Andrea E. San Juan

Civil society groups want automatic debt payments scuttled

Under Section 31 of PD 1177, the national government must automatically appropriate funds for various government expenditures that include principal and interest on public debt.

Lidy Nacpil, coordinator of the Asian People’s Movement on Debt and Development, said debt audits are critical in “shaping” and “transforming” policies on the government’s debts and debt payments. Nacpil added that these audits could also serve as a basis to call for changes in the policies of lenders.

“Filipinos are struggling to survive in the face of multiple crises. Examining the public debt through a debt audit can identify loans that should not be paid, and open opportunities for shifting public money from debt service

continued from a14

to people’s needs especially in these extremely difficult times,” Nacpil said.

T he Philippines ended 2022 with an outstanding debt of P13.418 trillion, 14.4 percent over the P11.728 trillion recorded in end-2021, latest Bureau of the Treasury data showed. (Related story: https://businessmirror.com. ph/2023/02/03/phl-ends-2022-with-debtof-p13-4-trillion-highest-ever/)

Historical Treasury data showed it was the Philippines’s highest end-December outstanding debt on record.

T he country’s outstanding obligation at the end of last year was below the national government’s (NG) projected debt stock level of P13.43 trillion for 2022. Jasper Emmanuel Y. Arcalas

continued from a14

For her part, Marikina Rep. Stella Luz Quimbo, also an economist, said MSMEs can maximize the benefits from the RCEP.

RCEP has a specific chapter on MSMEs. In this chapter there are provisions towards integration of MSMEs into the global value chain and trade facilitation provisions, which can help MSMEs,” she said.

[There is also] language on providing information and promoting cooperation so that MSMEs are empowered and therefore they can maximize their benefits from RCEP,” Quimbo said.

She also noted a chapter on electronic commerce and financial services that, again, is expected to contribute to the digitalization of MSMEs in the country.

“If we don’t proceed with this, we will be left out, our current export—about half—go to RCEP States. If we do not join and ratify [RCEP] it will affect our competitiveness,” she said.

For his part, Department of Trade and Industry Assistant Secretary Allan B. Gepty cited two studies showing RCEP’s benefits to the country’s real GDP.

There are 2 studies [one showing that] by 2031 it is expected that the Philippines will experience a positive 1.93 percent [while the other study said that] joining the RCEP can contribute to a 2.02 real GDP growth,” he said.

[But] the cost of not joining RCEP, we will suffer a negative .26 reduction in our real GDP.

If you are going to quantify it, we will be missing the opportunity of increasing our real GDP by an average 2 percent,” he added.

For his part, Speaker Martin Romualdez said

by immediately ratifying the RCEP agreement, the Philippines can sooner benefit and take the advantages of this mega-trade deal that could attract more foreign investors, create more job opportunities, and curb the unemployment and poverty rates in the country.

In the resolution, authors noted DTI Secretary Alfredo Pascual’s statement that the tariff liberalization under RCEP will make preferential market access easier for Philippine exporters, thereby allowing the country to capitalize on potential market gains.

Due to various FTAs that the Philippines entered into in the Asia-Pacific Region, there is overlapping of the numerous bilateral FTAs involving different sectors, with varying levels of commitment for tariff reduction and conflicting technical trade rules,” the resolution read.

T he RCEP is expected to address this debacle.

A ccording to Romualdez and the other authors, the benefits that the RCEP agreement will bring to the Philippines “far outweigh the risk, as it will promote greater openness, create a more business-friendly environment, encourage closer integration of economies, and provide a more stable and predictable rulesbased system of trade.”

Designed as the framework for economic and trade cooperation in the Asia Pacific Region, the RCEP integrates and optimizes the economic and trade rules, including the changing digital landscape that affects intellectual property rights, trade facilitation measures, electronic commerce, and cross-border trade.

call center to respond to tourist emergencies, and an agreement with the Department of National Defense and the Department of the Interior Labor and Government to ensure peace and security in tourist destinations.

“ The possibilities for Philippine tourism are endless. With your continued support we will accomplish our goals for a tourism industry that is a major economic pillar for our country,” the DOT chief told attendees.

During the meeting, the agency asked TCC members for their comments and inputs to the NTDP 2023-2028, with the final version to be revealed in March.

“This National Tourism Development Plan for 2023 to 2028 envisions the Philippines as a tourism powerhouse of Asia, that is anchored in the Filipino identity,

on sustainability, resilience, and global competitiveness, and that benefits the Filipino people,” said Frasco.

Among those who attended the TCC meeting were Tourism Congress of the Philippines president Roberto Zozobrado, Transportation Undersecretary Roberto C. Lim, Foreign Affairs Assistant Secretary Gina Jamoralin, National Commission for Culture and the Arts Executive Director Oscar G. Casaysay, Philippine National Police Deputy Chief for Operations PLT Gen. Benjamin Santos Jr., OIC-Executive Director of the National Historical Commission of the Philippines Carmina Arevalo, Philippine Amusement and Gaming Corp. Vice President for Marketing Ricardo B. Faraon, and officials of the DOT and its attached agencies.

76.

CAI, JIEFAN Business Development Analyst

Brief Job Description: A commendable sales performance specializing in Financial Services and in Corporate Banking or Wealth Management / Financial Planning services to high-networth clients, fluency in English and Chinese Language is a must.

Excellent communication, interpersonal and listening skills, the capability to explain complex information simply and clearly, the ability to network and establish relationships with clients, negotiation and influencing skills as well as determination and tenacity fluency in English and Arabic Language is a must.

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

Basic Qualification: Excellent communication,

February 22, 2023

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

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

TECHNOLOGY INC.

Lot 4044, Molino Blvd., Niog III, City of Bacoor, Cavite

17 BRICKHARTZ TECHNOLOGY INC.

Lot 4044, Molino Blvd., Niog III, City of Bacoor, Cavite

18 BROER BUILDERS CONSTRUCTION CORPORATION

Lot 3, Toclong, Kawit, Cavite

19 CALAMBA STEEL CENTER, INC.

Saimsim, City of Calamba, Laguna

YAP SAI WENG

Malaysian Customer Relations Officer

Brief Job Description:

Ensure outstanding customer satisfaction by maintaining strong working relationships

LIN, JICHAO

Mandarin Customer Service

Brief Job Description:

Ensure outstanding customer satisfaction by maintaining strong working relationships.

XIE, JINXING

Consultant

Brief Job Description:

Assist the clients in choosing the best contractor for the project.

TAKUMI, MIYU

Treasurer and Sales Manager

Brief Job Description:

Keep full and accurate accounts of receipts and disbursements in the books of the corporation.

Basic Qualification:

Has excellent problemsolving and communication skills in Mandarin, with related BPO experience

Salary Range:

Php30,000 - Php59,999

Basic Qualification:

Has excellent problemsolving and communication skills in Mandarin, with related BPO experience.

Salary Range:

Php30,000 - Php59,999

Basic Qualification:

With knowledge on construction procedure.

Salary Range:

Php30,000 - Php59,999

Basic Qualification:

Graduate of any 4-year course, with sales experience and can speak and write in Japanese and English.

Salary Range:

Php60,000 - Php89,999

• Editor: Angel R. Calso

Biden declares ‘Kyiv stands’ in surprise visit to Ukraine

By Evan Vucci, John Leicester, Aamer Madhani & Zeke Miller The Associated Press

KYIV, Ukraine—President Joe Biden swept unannounced into Ukraine on Monday to meet with President Volodymyr

Zelenskyy in a defiant display of Western solidarity with a country still fighting what he called “a brutal and unjust war” days before the first anniversary of Russia’s invasion.

night one year ago, the world was literally at the time bracing for the fall of Kyiv. Perhaps even the end of Ukraine.”

A year later, the Ukrainian capital remains firmly in Ukrainian control. Although a semblance of normalcy has returned to the city, regular air raid sirens and frequent missile and killer-drone attacks against military and civilian infrastructure across the country are a near-constant reminder that the war is still raging. The bloodiest fighting is, for the moment, concentrated in the country’s east, particularly around the city of Bakhmut, where Russian offensives are underway.

At least six civilians have been killed and 17 more have been wounded in Ukraine over the past 24 hours, Ukraine’s presidential office reported. In the eastern Donetsk region, the Russian army was using aviation to strike cities on the front line. A total of 15 cities and villages have been shelled over the past 24 hours, according to the region’s Ukrainian Gov. Pavlo Kyrylenko. In the northeastern Kharkiv region, cities near the border with Russia came under fire. A missile strike hit Kupiansk, damaging a hospital, a plant and residential buildings.

“One year later, Kyiv stands,” Biden declared after meeting Zelenskyy at Mariinsky Palace. Jabbing his finger for emphasis on his podium, against a backdrop of three flags from each country, he continued: “And Ukraine stands. Democracy stands. The Americans stand with you, and the world stands with you.”

Biden spent more than five hours in the Ukrainian capital, consulting with Zelenskyy on next steps, honoring the country’s fallen soldiers and seeing US embassy staff in the besieged country. Altogether he was on Ukrainian territory for about 23 hours, traveling by train from and back to Poland.

The visit came at a crucial moment: Biden is trying to keep allies unified in their support for Ukraine as the war is expected to intensify with spring offensives. Zelenskyy is pressing allies to speed up delivery of promised weapon systems and calling on the West to provide fighter jets—something that Biden has declined to do.

The US president got a taste of the terror that Ukrainians have lived with for close to a year when air raids sirens howled just as he and Zelenskyy wrapped up a visit to the gold-domed St. Michael’s Cathedral.

Looking solemn, they continued unperturbed as they laid two wreaths and held a moment of silence at the Wall of Remembrance honoring Ukrainian soldiers killed since 2014, the year Russia annexed Ukraine’s Crimean peninsula and Russianbacked fighting erupted in eastern Ukraine.

The White House would not go into specifics, but national security adviser Jake Sullivan said that it notified Moscow of Biden’s visit to Kyiv shortly before his departure from Washington “for deconfliction purposes” in an effort to avoid any miscalculation that could bring the two nuclear-armed nations into direct conflict.

In Kyiv, Biden announced an additional half-billion dollars in US assistance—on top of the more than $50 billion already provided—for shells for howitzers, anti-tank missiles, air surveillance radars and other aid but no new advanced weaponry.

Ukraine has also been pushing for battlefield systems that would allow its forces to strike Russian targets that have been moved back from frontline areas, out of the range of HIMARS missiles that have already been delivered. Zelenskyy said he and Biden spoke about “long-range weapons and the weapons that may still be supplied to Ukraine even though it wasn’t supplied before.” But he did not detail any new commitments.

“Our negotiations were very fruitful,” Zelenskyy added. Sullivan would not detail any potential new capabilities for Ukraine, but said there was a “good discussion” of the subject.

Biden’s mission with his visit to Kyiv, which comes before a scheduled trip to Warsaw, Poland, is to underscore that the United States is prepared to stick with Ukraine “as long as it takes” to repel Russian forces even as public opinion polling suggests that US and allied support for providing weaponry and direct economic assistance has started to soften. For Zelenskyy, the symbolism of having the US president stand side by side with him on Ukrainian land as the anniversary nears is no small thing as he prods allies to provide more advanced weaponry and step up delivery.

“I thought it was critical that there not be any doubt, none whatsoever, about US support for Ukraine in the war,” Biden said.

Biden’s trip was a brazen rebuke to Russian President Vladimir Putin, who had hoped his military would swiftly overrun Kyiv within days. Biden, a Democrat, recalled speaking with Zelenskyy on the night of the invasion, saying, “That dark

“The cost that Ukraine has had to bear has been extraordinarily high,” Biden said. “And the sacrifices have been far too great.” But “Putin’s war of conquest is failing.”

“He’s counting on us not sticking together,” Biden said. “He thought he could outlast us. I don’t think he’s thinking that right now. God knows what he’s thinking, but I don’t think he’s thinking that. But he’s just been plain wrong. Plain wrong.”

Signing a guest book at the presidential palace, Biden praised Zelenskky and the Ukrainian people, closing with “Slava Ukraini!”—“Glory to Ukraine!”

The trip gave Biden an opportunity to get a firsthand look at the devastation the Russian invasion has caused on Ukraine.

Thousands of Ukrainian troops and civilians have been killed, millions of refugees have fled the war, and Ukraine has suffered tens of billions of dollars of infrastructure damage. Biden, wearing a blue suit and at times his signature aviator sunglasses, told Zelenskyy the US will stand with him “for as long as it takes.” Zelenskyy responded in English: “We’ll do it.”

The Ukrainian leader, wearing a black sweatshirt, as has become his wartime habit, said through an interpreter that Biden’s visit “brings us closer to the victory,” this year, he hoped. He expressed gratitude to Americans and “all those who cherish freedom.”

It was rare for a US president to travel to a conflict zone where the US or its allies did not have control over the airspace.

The US military does not have a presence in Ukraine other than a small detachment of Marines guarding the embassy in Kyiv, making Biden’s visit more complicated than other recent visits by prior US leaders to war zones.

While Biden was in Ukraine, US surveillance planes, including E-3 Sentry airborne radar and an electronic RC-135W Rivet Joint aircraft, were keeping watch over Kyiv from Polish airspace.

Speculation has been building

Continued on

US President Joe Biden, left, walks with Ukrainian President Volodymyr Zelenskyy at St. Michaels Golden-Domed Cathedral during an unannounced visit, in Kyiv, Ukraine on Monday, February 20, 2023. AP/EVAN VUCCI

The World

China says it’s seeking role in Ukraine peace settlement

Qin Gang told participants at a security conference in Beijing that China was concerned the almost yearlong war could escalate further and spin “out of control.”

China would continue to urge peace talks and provide “Chinese wisdom” to bring about a political settlement, he said.

“At the same time, we urge relevant countries to immediately stop adding fuel to the fire, stop shifting blames to China, and stop hyping up the discourse of Ukraine today, Taiwan tomorrow,” Qin said in an apparent reference to military support provided to Ukraine by the United States and its allies, as well as concerns that China is preparing to make good on its threats to use force to assert its claim over Taiwan, a selfgoverning island democracy.

China has refused to condemn Russia’s invasion or atrocities against Ukrainian civilians and strongly criticized Western economic sanctions against Moscow. In deference to Moscow, it has yet to describe the conflict as an invasion.

China and Russia have aligned their foreign policies to oppose the US and, weeks before the Ukraine invasion, their leaders declared a partnership with “no limits.” China also says Russia was provoked into using military force by NATO’s eastward expansion.

Despite that, Qin reiterated China’s claim that it has “always taken an objective and impartial stance based on the merits of the issue.”

“China is deeply worried about the escalation of the situation and even the possibility of it going out of control,” Qin said. He said Chinese President Xi Jinping had

put forward proposals that have “played a responsible and constructive role in easing the situation and de-escalating the crisis,” without offering any details or evidence.

“We will continue to promote peace talks, provide Chinese wisdom for the political settlement of the Ukraine crisis, and work with the international community to promote dialogue and consultation to address the concerns of all parties and seek common security,” Qin said.

China has opposed criticism of Russia at the United Nations, while insisting that the sovereignty and territorial integrity of all nations be respected, a position that underpins its claim to Taiwan, which separated from the mainland amid civil war more than 70 years ago.

Russian President Vladimir Putin could meet with the Chinese Communist Party’s foreign policy chief Wang Yi in Moscow, the Kremlin said Monday.

Kremlin spokesperson Dmitry Peskov hailed Russia-China ties as “multidimensional and allied in nature.”

That statement coincided with US President Joe Biden’s unannounced visit to Ukraine on Monday to meet with President Volodymyr Zelenskyy and show support for Kyiv days ahead of the one-year anniversary of Russia’s invasion.

Wang’s trip to Russia follows talks Saturday with US Secretary of State Antony Blinken on the sidelines of an international security conference in Munich. Blinken said he reiterated to Wang that any Chinese material support for the Russian armed forces would trigger a strong response from Wash -

ington. Thus far, the US says there are no indications that China is doing so, although its close economic ties with Russia have offered a lifeline to Putin’s regime.

Russia, in turn, has offered strong support for China and held a series of joint military drills amid tensions with the US over Taiwan, trade, human rights and Chinese territorial claims in the South China Sea.

China’s Foreign Ministry issued a lengthy statement Tuesday outlining Xi’s “Global Security Initiative,” which aims to “eliminate the root causes of international conflicts, improve global security governance, encourage joint international efforts to bring more stability and certainty to a volatile and changing era, and promote durable peace and development in the world.”

In its only reference to Russia’s invasion, it said the initiative would “support political settlement of hotspot issues such as the Ukraine crisis through dialogue and negotiation.”

At a daily briefing, Foreign Ministry spokesperson Wang Wenbin criticized military aid provided to Ukraine by the US and its allies, saying that “the US claims to maintain peace, but actually it

Group urges radiation tests for 900 North Korean escapees

By Kim Tong-Hyung The Associated Press

SEOUL, South Korea— Human rights advocates on Tuesday urged South Korea to offer radiation exposure tests to hundreds of North Korean escapees who had lived near the country’s nuclear testing ground.

Tests conducted by the South Korean government on 40 people in 2017 and 2018 found at least nine of them had abnormalities that could indicate high radiation exposure, but Seoul’s Unification Ministry said a conclusive link to North Korea’s nuclear activity couldn’t be established and other factors were possible, such as age, smoking habits or other types of chemical exposure.

The South Korean radiation tests were subsequently discontinued.

is making money from the crisis.”

“There are enough facts to show the true nature of the US as a source of trouble rather than a defender of peace for the world,” Wang said.

The US has committed about $113 billion in aid to Ukraine since last year, while European allies have committed tens of billions of dollars more and welcomed millions of Ukrainian refugees who have fled the conflict. Such aid is funded by US and other foreign taxpayers, with Ukraine under no obligation to provide repayment as it seeks to withstand renewed Russian attempts to regain territory it had earlier conquered.

Wang also defended China’s “comprehensive strategic partnership” with Russia as “based on nonalignment, non-confrontation and non-targeting of third parties, which is within the sovereignty of two independent countries.”

Wang gave no details on Wang Yi’s visit to Moscow, but called it “an opportunity to work with Russia to jointly promote steady progress of bilateral relations in the direction determined by the two leaders, safeguard each other’s legitimate rights and interests and contribute positively to world peace.” AP

Reps meeting Taiwan’s Tsai say US seeks peace in region

TAIPEI, Taiwan—A delegation of United States lawmakers met with Taiwan’s president on Tuesday as part of an ongoing visit to the island that comes at a tense moment between the US and China, who have spent weeks trading accusations over a suspected spy balloon.

The group was one of many US delegations President Tsai Ing-wen has welcomed in recent years, despite China’s objections.

China claims the island republic as its own territory, to be taken by force if necessary.

Beijing has responded to foreign visits by holding large-scale military exercises seen by some as a rehearsal for a blockade or invasion.

Tsai thanked the lawmakers for coming, saying it was a chance to deepen ongoing cooperation in semiconductor chip design and manufacturing, renewable energy and 5G.

“Taiwan and the US [will] continue to bolster military exchanges. Going forward, Taiwan will cooperate even more actively with the US and other democratic partners to confront such bold challenges as authoritarian expansionism and climate change,” Tsai said.

Tensions between the US and China inflated after Washington shot down a suspected Chinese spy balloon that Beijing maintains was an unmanned weather balloon. Both sides are also in opposition on the war

TWO soldiers fold the national flag during the daily flag ceremony in Liberty Square of Chiang Kai-shek Memorial Hall in Taipei, Taiwan on July 30, 2022. A delegation of US lawmakers met with Taiwan’s President on Tuesday, February 21, 2023, as part of an ongoing visit that comes at a tense moment between the US and China, who have spent weeks trading accusations over a spy balloon. AP/CHIANG YING-YING

in Ukraine, and Secretary of State Antony Blinken warned Sunday that Beijing could be considering providing weapons to Russia for the war.

“We are here to affirm the shared values between the US and Taiwan—a commitment to democracy, a commitment to freedom,” California Rep. Ro Khanna said. “The US under President Biden’s leadership seeks peace in the region.”

He is accompanied by Reps. Tony Gonzales of Texas, Jake Auchincloss of Massachusetts and Jonathan Jackson of Illinois. The group met with their legislative counterparts Monday, as well as Taiwan Semiconductor Manufacturing Company founder Morris Chang.

Khanna also offered a tribute to former President Jimmy Carter, who recently entered hospice care. He was president when Congress passed the Taiwan Relations Act, under which the US must ensure Taiwan can defend itself. AP

Seoul’s Unification Ministry, which handles affairs with the North, said in a statement that it would consider resuming the tests if the North Korean escapees have health problems or request examinations.

The advocacy group said South Korean records show nearly 900 people from the region around the Punggye-ri site have escaped to South Korea since the North’s first nuclear test in 2006. It said resuming radiation testing for them was crucial considering the lack of access to North Korea’s nuclear facility.

“North Korean escapees who display symptoms of radiation exposure must given accurate information and appropriate medical treatment,” said Ethan Hee-Seok Shin, a legal expert with the group. He also urged an independent investigation in North Korea based on the test results.

The Seoul-based Transitional Justice Working Group cited the findings and its own analysis of geographic and census data to say that North Korea’s six nuclear detonations could have spread radioactive materials by water within 40 kilometers (24.8 miles) of the Punggye-ri nuclear facility. It said more than a million people live in the area dependent on groundwater and wells since piped water is scarce beyond the capital, Pyongyang and a few other cities.

North Korea has rejected safety concerns surrounding its nuclear tests, saying the testing environment each time was fully controlled and that it detected no radioactive leaks. It allowed foreign journalists to film the detonation of some tunnels at the site in 2018 but has never allowed international nuclear inspectors to visit the Punggye-ri testing ground.

The advocacy group also urged South Korea, Japan and China to investigate the contamination risks of North Korean agricultural and seafood products. It said the area around the nuclear testing site is a foodproducing region with abundant rainfall and a network of streams that lead to the sea.

South Korea and Japan have imposed bans for many years, but the products are often smuggled and disguised as Chinese.

In 2015, Seoul’s Food and Drug Safety Ministry found high levels of radioactive cesium isotopes in North Koreaproduced dried hedgehog mushrooms that were being sold as Chinese products.

Observers have said North Korea may be making preparations at the Punggye-ri site to conduct its seventh nuclear test and the first since September 2017.

Biden declares ‘Kyiv stands’ in surprise visit to Ukraine

Continued from A9

for weeks that Biden would visit Ukraine around the February 24 anniversary of the Russian invasion. But the White House repeatedly had said that no presidential trip to Ukraine was planned, even after the Poland visit was announced.

Since early morning on Monday many main streets and central blocks in Kyiv were cordoned off without any official explanation. Later people started sharing videos of long motorcades of cars driving along the streets where the access was restricted.

At the White House, planning for Biden’s visit to Kyiv was tightly held—with a relatively small group of aides briefed on the plans—because of security concerns. Sullivan said Biden gave final approval for the trip, which had been in the works for months, on Friday during an Oval Office meeting at which he was briefed on security plans for the visit.

The president traveled with an usually small entourage, with just a few senior aides and two journalists, to maintain secrecy.

Asked by a reporter on Friday if Biden might include stops beyond Poland, White House National Security Council spokesman John Kirby replied, “Right now, the trip is going to be in Warsaw.” Moments later—and without prompting— Kirby added, “I said ‘right now.’”

Biden quietly departed from

Joint Base Andrews near Washington at 4:15 a.m. on Sunday, stopping at Ramstein Air Base in Germany before making his way into Ukraine on an overnight train from Poland. He arrived in Kyiv at 8 a.m. on Monday. He departed after 1 p.m. by train back to Poland.

Until Monday, Biden’s failure to visit was making him something of a standout among Ukraine’s partners in the West, some of whom have made frequent visits to the Ukrainian capital. White House officials had previously cited security concerns with keeping Biden from making the trip, and Sullivan said Monday that the visit was only undertaken once officials believed they had managed the risk to acceptable levels.

In June, French President Emmanuel Macron, German Chancellor Olaf Scholz and then Italian Prime Minister Mario Draghi traveled together by night train to Kyiv to meet with Zelenskyy. British Prime Minister Rishi Sunak visited Kyiv in November shortly after taking office.

This is Biden’s first visit to a war zone as president. His recent predecessors, Donald Trump, Barack Obama and George W. Bush, made surprise visits to Afghanistan and Iraq during their presidencies to meet US troops and those countries’ leaders.

Madhani and Miller reported from Washington

BEIJING—The foreign minister of China, which has provided strong political backing for Russia in its invasion of Ukraine, said Tuesday his country wants to play a role in ending the conflict.

CHINESE Foreign Minister Qin Gang gestures to delegations as he arrives at the Lanting Forum on the Global Security Initiative: China’s Proposal for Solving Security Challenges held at the Ministry of Foreign Affairs office in Beijing, Tuesday, February 21, 2023. Qin Gang on Tuesday expressed concerns about the rising tensions in Ukraine and said China was ready to provide “Chinese wisdom” for the political settlement of the crisis through dialogues. AP/ANDY WONG

The World

Global shares fall on mixed manufacturing indicators

By Yuri Kageyama AP Business Writer

Shares fell in early trading in France, Germany and Britain and US futures declined. Oil prices were mixed.

Russian President Vladimir Putin railed against the West Tuesday in a

long-delayed state-of-the-nation address that shed light on how the Kremlin sees its bogged-down war in Ukraine. Such geopolitical factors add to uncertainties over slowing growth and

Russian oil exports to China reach highest levels since Ukraine invasion

RUSSIAN exports of discounted crude and fuel oil to China have jumped to record levels as the re-opening of the world’s biggest energy importer gathers pace after the dismantling of Covid Zero.

Overall flows last month were at the highest at any point since the invasion of Ukraine a year ago and surpassed a record set in April 2020, according to data intelligence firm Kpler. Exports of fuel oil surged to an all-time high.

The buying spree was likely underpinned by private refiners, but state-owned processors are now showing more interest in Russian crude after concerns around potential blowback from the US and allies kept them on the sidelines.

China is toe-to-toe with India as the biggest buyer of Russian crude after the war in Ukraine re-shaped global energy flows. Moscow has had to offer discounts to entice a shrinking pool of customers, a move welcomed by Asian buyers trying to control inflation. The West wants to deprive the Kremlin of funds for its war but would also like to keep a lid of on global oil prices.

Russia’s overall crude and fuel oil exports to China reached 1.66 million barrels a day last month, according to Kpler data as of February 20. That’s more than the previous record set in April 2020 when the Asian nation was emerging from its initial virus restrictions. Crude and condensate flows rose to 1.52 million barrels a day, just short of a record set almost three years ago.

T he uptick in Chinese buying is evidence the country’s economic recovery is picking up, which should help to buoy global oil prices. The International Energy Agency last week cited China for a boost in its demand forecasts, while Opec producer Iran is tipping Brent to rise above $100 a barrel this year.

It can take more than six weeks for cargoes shipped from Russia’s western ports to arrive in China, while barrels sent from the Far East typically arrive the same month.

Offers for Russian Urals and ESPO crude were pegged at a discount of $13 and $8 a barrel,

respectively, to Brent on a delivered basis, according to traders. That’s much cheaper than similar West African grades, which were priced at near parity or a premium to Brent.

Asia’s largest economy has dominated buying of ESPO, a grade that can be shipped quickly from Russia’s Far East, since late-2022. Private refiners have been key consumers, but traders are watching for demand from state-owned refiners such as China Petroleum & Chemical Corp., or Sinopec, as well as CNOOC Ltd.

China not only bought the entire monthly loading schedule of ESPO for January, it also purchased Arctic grades and Urals, said Viktor Katona, lead crude analyst at Kpler. Its buying spree on fuel oil mainly comes from the Black Sea and Baltic Sea regions, he said.

Ship -tracking data indicates that more oil could flow to China from Russia’s western ports of Primorsk and Novorossiysk, where grades including Urals are loaded. The uptick can be partly attributed to state-run refiners speeding up purchases, according to people with knowledge of the matter.

Russian exports of straight-run fuel oil and highsulfur fuel oil to China hit a record of about 142,000 barrels a day in January, according to Kpler.

Fuel oil can be processed in place of crude in large distillation units, or used in secondary plants such as cokers to make diesel or gasoline. HSFO can also be blended into marine fuel or bitumen.

It was at a $16 to $17 a barrel discount to Brent before taxes, the traders said.

China’s private refiners have been buying more straight-run fuel oil since late-2022 due to attractive prices, said Mia Geng, an analyst at industry consultant FGE. Private refiners sometimes opt to refine fuel oil over crude in an effort to skirt government-issued quotas meant to limit crude imports, but the recent surge in purchases was more likely due to processors being able to reap sizable profits from processing, she said. With assistance from Kevin Dharmawan/ Bloomberg

Traffic surges at Dubai airport but lags behind 2019 peak

By Joseph Krauss & Malak Harb

The Associated Press

DUBAI, United Arab Emirates—Traffic more than doubled last year at Dubai’s airport, the world’s busiest for international flights, but has yet to fully recover after the coronavirus pandemic, according to figures released Tuesday.

Even as the number of passengers has surged, the state-of-the-art airport in the oil-rich United Arab Emirates has avoided the travel chaos that rippled across North America and Europe last year, as it maintained capacity through the darkest days of the pandemic.

Over 66 million passengers moved through the airport, known as DXB, in 2022, up from 29.1 million in 2021, when global travel was still snarled by pandemic restrictions. But it remains well below the pre-pandemic milestone of 86.4 million logged in 2019.

Paul Griffiths, the airport’s CEO, told The Associated Press that he expects traffic to return to pre-pandemic levels by the end of this year or early 2024, with a boost from China’s easing of its “zero Covid” policies. The airport currently forecasts 78 million passengers in 2023.

“We’re optimistic that the traffic levels every month will be regularly over the seven million mark, which means that we’re very, very precisely

weakening consumer demand in many economies.

France’s CAC 40 fell 0.1 percent in early trading to 7,327.24. Germany’s DAX lost 0.2 percent to 15,441.85. Britain’s FTSE 100 edged down 0.1 percent to 8,005.92.

After US markets were closed Monday for President’s Day, the future for the Dow Jones Industrial Average was 0.6 percent lower while that for the S&P 500 lost 0.7 percent.

In Europe, surveys of factory managers showed improvement in the manufacturing outlook in Britain but contractions in France and Germany.

In Japan, a preliminary manufacturing indicator, the flash

purchasing manager’s index, or PMI, fell to 47.4 in February from 48.9 the month before. That was the weakest reading in more than two years.

In Australia, the Judo Bank PMI showed private sector activity remained in contraction for the fifth straight month. Although exports rebounded with help from China’s re-opening after it dropped Covid-related restrictions, the sector showed little to no positive momentum. Unemployment has also risen in Australia.

“The distortions in the Australian economy remain extreme and point only to recession,” Clifford Bennett, chief economist at ACY Securities,

said in a commentary.

Tokyo’s Nikkei 225 shed 0.2 percent to 27,473.10. Australia’s S&P/ASX 200 slipped 0.2 percent to 7,336.30. South Korea’s Kospi gained nearly 0.2 percent to 2,458.96. Hong Kong’s Hang Seng dipped 1.8 percent to 20,517.91, while the Shanghai Composite gained 0.5 percent to 3,306.52.

It was unclear if newly issued rules on overseas initial public offerings by Chinese companies had any significant impact on trading.

China cleared the way for more companies to join foreign stock exchanges but issued rules that might make the stock offering process more time-consuming by requiring stricter

regulatory scrutiny in advance. This week will bring updates on US manufacturing and housing and minutes from the last meeting of the Federal Reserve that might provide insights into the outlook for inflation and interest rates.

In energy trading, benchmark US crude picked up 28 cents to $76.83 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international pricing standard, lost $1.12 cents to $82.95 a barrel.

In currency trading, the US dollar inched up to 134.53 Japanese yen from 134.26 yen. The euro cost $1.0672, down from $1.0689.

on a trajectory to recover to the pre-pandemic levels, if not this year, certainly by the first half of 2024,” he said.

“We’ve now got seven cities in China with 25 flights a week with five airlines,” he said. “That think is going to be the new engine of growth.”

Located at the crossroads of Europe, the Middle East and Asia, Dubai’s airport has long been the busiest worldwide for international flights.

Atlanta’s Hartsfield-Jackson International Airport is the busiest overall, including domestic routes, according to flight data provider OAG.

DXB is linked to 229 destinations across 99 countries, with routes operated by scores of international carriers.

Tourism is a major industry in the UAE, which has plowed its oil wealth into lavish infrastructure over the past few decades, giving rise to the futuristic cities of Dubai and Abu Dhabi.

Dubai was one of the first major destinations to lift its tourism lockdown. Major sporting and entertainment events have brought even more people to the region in recent years, and the UAE is set to host this year’s COP28 UN climate talks.

As the pandemic ushered in worldwide lockdowns and travel bans in early 2020, the UAE made it a “strategic priority” to ensure that it would be ready for the eventual recovery, Griffiths said.

TOKYO—Global shares were mostly lower on Tuesday after manufacturing indicators in Europe and Asia painted a mixed picture and Russian President Vladimir Putin accused Western countries of threatening Russia.

A key component of food security

Pork belly or liempo is the fattiest cut with alternating layers of meat and fat, making it the most flavorful of all pork cuts in the market. Usually grilled or fried, liempo is popular among Filipinos who want a flavorful and fatty pork dish. However, pork liempo remains expensive in the National Capital region, based on the February 20 data released by the Department of Agriculture (DA). The price of the favored pork cut ranged from P330 to P400 per kilogram, on par with beef brisket, which was sold from P350 to P420 per kilogram in Metro Manila.

Four years ago, pork liempo was sold for an average of P224.50 per kilogram, according to data from the DA. Prices in Metro Manila wet markets in 2018 ranged from P195 to P250 per kilogram. Dressed chicken was sold for an average of P147.96 per kilo based on the February 20, 2018 data of the DA, which was lower than the latest average price of P187.50.

The spike in the prices of meat products was largely due to the outbreak of diseases that significantly reduced the domestic population of hogs as well as poultry. Among the transboundary animal diseases that struck the country, African swine fever (ASF) proved to be the most devastating, resulting in the decline in hog population (See, “Farm growth in 2021 slowest in over 2 decades–PSA,” in the BusinessMirror, January 26, 2022). As there were fewer hogs to slaughter and pork demand remained brisk, retail prices skyrocketed.

With pork prices getting prohibitive, consumers shifted to poultry and other protein sources like eggs. Raisers, however, remain wary of the threat from avian influenza, which nearly crippled Central Luzon’s poultry industry in 2017. Fresh outbreaks of bird flu and ASF would cause surges in the prices of chicken and pork.

The DA is currently reviewing its indemnification guidelines, particularly the amount paid to raisers, in its bid to encourage them to immediately report suspicious fatalities in their farms (See, “Government reviews indemnification scheme for poultry raisers,” in the BusinessMirror, February 16, 2023). Early reporting is crucial to prevent the spread of animal diseases and protect animals in other farms. However, the DA noted that some farmers would rather sell sick birds than wait for indemnification from the government in their desire to recoup production costs.

It would do well for the government to institute mechanisms that would allow raisers to immediately receive compensation for culled animals, as delays would mean income losses or even starvation for those who depend on their backyard farms for livelihood. There’s a sense of urgency for policymakers to focus on this indemnification scheme, which is crucial to help the country fight transboundary animal diseases. This is also a good way for government to help keep food prices stable. Based on Philippine Statistics Authority data, higher food prices caused inflation to accelerate in January.

Experience has shown the need for government to step in and help prevent or fight animal diseases. And there is wisdom in incorporating measures to fight animal diseases in the government’s action plan to combat inflation, which soared to a 14-year high of 8.7 percent in January. Unfortunately, it is the Bottom 30 or the poorest of the poor who suffer the most from high food prices, which makes it more difficult for them to gain access to nutritious food.

The government’s success in addressing the challenges in the agriculture sector will help assure more than 100 million Filipinos that the Philippines can attain food security. The long-term challenge, however, is how the government can pursue food affordability, which is a key component of the country’s food security.

Congress floats ways to secure skies after Chinese balloon

By Stephen Groves | The Associated Press

WASHINGToN—As the only current US senator to have visited space, Mark kelly knows something about unexplained objects in the skies.

Back in his aviator days, Kelly saw Mylar party balloons fly by his cockpit. And once when he was piloting a NASA aircraft, he spotted an object at roughly 45,000 feet (13,700 meters)—much higher than commercial airplanes fly—that he couldn’t identify by sight.

He’s not sure he would want to see American missiles flying at those objects, either.

“I don’t think we want to get into the business of launching AIM-9Xs—at $400,000 a pop—at weather balloons,” Kelly told The Associated Press, referring to the heatseeking, air-to-air missiles used in recent weeks to shoot down a series of aerial objects, including a suspected Chinese surveillance balloon.

The Biden administration’s unprecedented peacetime downing of the Chinese balloon and three other objects has raised new and troubling questions about the security of American airspace, alarming lawmakers who fear the episode has exposed a vulnerability that could be exploited by other foreign adversaries.

While the House and the Senate both voted unanimously to condemn China’s ruling political party for the incursion and largely supported the Biden administration’s decision to shoot down the balloon, they have questions about what’s next.

Sen. Jon Tester, a Montana Democrat who has been tasked with heading up an investigation into how the suspected Chinese surveillance balloon was allowed to pass over crucial US missile sites, said that he would ensure the Defense Department has funds for a protocol to assess the threat of unidentified flying objects.

“We’re going to get to the bottom of what happened and make sure we have a plan going forward to detect and then find out what potential problems this balloon may cause and then a way to bring it down that doesn’t cost us a $400,000 missile,” Tester, who chairs the Defense subcommittee on appropriations, told Fox News Channel.

Concerns over China, which has criticized the US for “an obvious overreaction,” and worries about interference with civilian aircraft are shared

By Michelle Fay Cortez | Bloomberg Opinion

For much of the past century, a strategy known as elimination was the gold standard for dealing with deadly new viruses. But China’s abrupt reversal of its Covid Zero policy, which took it to an extreme, has cast doubts over the approach and left a gaping hole in the world’s game plan for the next pandemic.

Even outside China, elimination measures like stay-at-home orders proved politically unpopular and difficult to carry out. With some medical experts doubting whether airborne respiratory pathogens can be suppressed, global public health officials are now without a consensus on how best to contain new infectious diseases.

Early in the pandemic, proponents argued elimination was morally, scientifically and economically superior to so-called mitigation approaches, such as slowing the spread of disease through physical distancing and limiting social gatherings, or letting the virus loose among the young while protecting more vulnerable members of the population.

As cases spread throughout the world, the full weight of the policy emerged, demanding strict border controls, lockdowns and extensive testing and contact-tracing. But it also required fast action and global coordination, which was difficult

by members of both political parties, creating the potential in Congress to mount a robust bipartisan response. But lawmakers are also mindful of adding yet more military costs—the US already spends more than $800 billion yearly on defense programs— and are wary of expensive shooting sprees for every random object that appears in America’s skies.

Kelly, an Arizona Democrat, is working on legislation that would require weather balloons to carry transponders that could communicate with air traffic control systems to separate research balloons from mysterious objects where “we don’t know what that is. We don’t know where it came from.”

“It would really help the Defense Department to be able to sort out what is civilian science payload, what’s a weather balloon, what’s a NASA balloon, what’s a private company in the United States doing, what might be even a US military,” said Kelly, who logged 54 days in space as an astronaut before jumping into politics.

Other lawmakers have launched a flurry of proposals aimed at the skies including a comprehensive examination of encounters with unidentified aerial objects as well as an investigation into how the military is tracking objects floating over the country.

President Joe Biden has said the

military is developing “sharper rules” to track, monitor and potentially shoot down unknown aerial objects. He has justified the downings by saying the objects presented a remote risk to civilian planes. But the four missile attacks were the first known peacetime shootdowns of unauthorized objects in US airspace. Officials now say the three later objects shot down likely had a “benign purpose” and were detected after the US military set its radar systems to detect slow-moving balloons. China’s alleged practice of using balloons for surveillance exploits a potential oversight in air traffic control systems, Kelly said. The systems aren’t designed to track the thousands of objects that move in on high-altitude winds.

The National Weather Service alone launches roughly 60,000 balloons every year to monitor for extreme weather. Universities, government organizations and even ham radio hobbyists send up thousands of others.

“This is about whether an adversary has developed a capability that they know we’re not looking for because our systems are set up to see missiles and airplanes. They’re not set up to see smaller objects at lower altitudes,” said Sen. Marco Rubio of Florida, the top Republican on

to achieve.

“In hindsight, people could have said let’s throw everything we can at this pandemic and try to stamp it out,” said epidemiologist Michael Baker, who was the architect of New Zealand’s early elimination Covid response. “I think we had a reasonable chance of doing it. But the opportunity is very early on in a pandemic. Once there’s global distribution, you’ve got a huge challenge.”

China’s experience, marked by months-long lockdowns, isolation and family separations, showed simultaneously that elimination was possible and that it came at a cost too high for most countries, especially democratic ones, to bear.

The first example was in Wuhan, where Covid pervaded the city in late 2019 and was wiped out less than five months later.

Proof of concept

“IT was quite a revelation that China was able to stop transmission in 2020

Early in the pandemic, proponents argued elimination was morally, scientifically and economically superior to so-called mitigation approaches, such as slowing the spread of disease through physical distancing and limiting social gatherings, or letting the virus loose among the young while protecting more vulnerable members of the population.

in Wuhan,” said Baker, who recently became the director of the Public Health Communication Centre in New Zealand, a non-profit group designed to improve the way medical information and research is conveyed.

“That was the proof of concept.”

New Zealand, which had a little more of a heads up, followed China’s example. It halted the march of Covid with an intense, two-month stayat-home order, plus other measures like contact tracing and quarantines.

A handful of other governments in Asia also pursued the policy, including in Hong Kong, Australia, Taiwan, and Singapore, with varying degrees of success. Vietnam, Laos and Mongolia, with long borders and limited resources, also used it.

The initial benefits were clear.

All were able to curb infections until pharmaceutical interventions like vaccines and antivirals were developed. During that time, health care providers learned how to best treat patients, such as giving them steroids and positioning them on their stomachs, which boosted survival rates.

Per-capita death rates in Covid Zero countries came in far below those that opted for mitigation, also known as flattening the curve. Japan and South Korea, which didn’t pursue elimination but where social distancing and masking were followed closely, also fared well in suppressing deaths.

While President Xi Jinping touted China’s success at saving lives, the unrelenting restrictions long after vaccines became widely available triggered protests and dragged on the economy. Experts said the severity of China’s approach may have tainted the world’s perceptions of elimination measures which, when applied less harshly, have helped to contain deadly diseases like polio, measles and SARS.

“It created a false alternative in which a draconian, individual rightsdestroying lockdown was seen as one option, and the other was to do nothing,” said Amesh Adalja, a senior scholar at Johns Hopkins Center for See “World’s,” A13

Nigeria faces stunted generation, is number 2 for malnourished kids

By Antony Sguazzin | Bloomberg Opinion

NIgerIa faces the risk of a generation of stunted adults as climate change and conflict have resulted in the country having the second-largest number of malnourished children globally after India.

Of the 36 million Nigerians under five years of age, 15 million are stunted, 2.8 million are severely wasted and 30 million are anemic, according to figures provided by the United Nations Children’s Fund, or Unicef. Saving these children would cost about $120 each, mostly in the form of therapeutic food, according to the agency.

“The numbers are frightening,” said Nemat Hajeebhoy, head of nutrition for Unicef in Nigeria. “Essentially after the age of five or so, it’s irreversible.” Without intervention “a child who is stunted will be a stunted adult,” she said.

Much of Nigeria, which has a population of more than 200 million, was hit last year by devastating floods, which damaged crops at a time when the country was still recovering from the Covid-19 pandemic. At the same time, the northern half of the country is wracked by violence from both jihadist groups and bandits. The insecurity and natural disasters hamper organizations such as Unicef from dispensing aid, cripple food production and interrupt immunization campaigns.

“When you look at the impacts of conflict on the population, it’s going to affect all forms of malnutrition,” Hajeebhoy said. “It compromises a child’s long-term growth and development” and more immediately, hungry children can be hit by wasting, she said.

By the end of December, 17 million people were without adequate food and that number is expected to rise to 25.3 million between June and August, the so-called lean season,

continued from A12

Health Security.

China imposed a tracking system that forced millions of people to routinely get laboratory-run PCR tests to do things like go to the office, eat in a restaurant or ride the subway.

Simply being in the proximity of someone who later tested positive could lead to home confinement or being taken to a quarantine camp.

In Shanghai, 25 million people were locked down for two months in 2022. In other cities, workers fled manufacturing plants that used closed-loop systems that kept them inside the factories. Residents scaled fences and shoppers rushed exits when rumors of infections cropped up, for fear of being forced into weeks of isolation. Protests, once unheard of, erupted.

In the face of such discontent, China abruptly dropped its stringent elimination measures in December. Infection rates soared, with the government estimating 37 million people a day were getting infected at one point.

China wasn’t alone in grappling with the costs of elimination. Thousands of Australians caught outside the country when Covid flared were denied re-entry for more than 18 months, while Melbourne endured six lockdowns over 262 days in a bid to keep the virus out. New Zealand’s “Go Hard, Go Early” approach was also criticized when tough lockdown steps led to rising unemployment and domestic violence. Both countries have since seen a change in leadership.

Public revolt

Ev EN governments that decided against elimination, opting instead to flatten the curve, struggled to persuade people to follow basic control methods. In the US and many parts

Of the 36 million Nigerians under five years of age, 15 million are stunted, 2.8 million are severely wasted and 30 million are anemic, according to figures provided by the United Nations Children’s Fund, or Unicef. Saving these children would cost about $120 each, mostly in the form of therapeutic food, according to the agency.

according to Unicef. That compares with just over 4 million in December 2019.

The most difficult states to access because of violence are Borno and Yobe in the northeast and Zamfara in the northwest. But stunting, wasting and inadequate nutrition are problems across the country, including in the commercial capital, Lagos.

Wasted children, characterized by thin limbs and bloated bellies, are in danger of dying. Stunting can also affect cognitive development.

The warning about the expected increase in numbers of hungry people “has come early enough for us to act,”

Hajeebhoy said. “There’s food assistance, there’s cash assistance, there’s also preparedness for ensuring that if the numbers increase, we have the best capacity to treat mothers and children from a nutrition lens with lifesaving nutrition services.”

That, of course, costs money.

There are “two big things,” she said. “It’s the planning and ensuring the resources, financial and human, are available to respond.” With assistance from Rene Vollgraaff /Bloomberg.

of Europe, topics like mask-wearing and immunizations for high-risk people became political quagmires, despite studies showing they slowed infections and saved lives.

It was particularly difficult to persuade people to accept things like online schooling and social isolation without knowing how long the pandemic would last. Especially in the early stages, health officials were unsure which mitigation measures would prove successful or how long it would take to develop pharmaceutical interventions.

“We were hoping we could switch this thing off,” with immunity from vaccination or previous infection preventing transmission of the virus, said Jodie Mcvernon, director of epidemiology at the University of Melbourne’s Doherty Institute. “Those hopes were relatively short lived. We moved on from the idea that we can immunize the world and turn the infection off.”

The nature of Covid, with its mutations and hyper-infectivity, made elimination particularly challenging.

“When you are dealing with Omicron, there is no threading the needle,” Mcvernon said. “Once Omicron was out of the bottle, there was no squeezing the genie back in.”

A unified global response is now even less likely in the next pandemic. The number of emerging infectious diseases continues to grow due to global warming and development in rural areas that are home to wild animals, which act as hosts for many viruses.

Countries that were able to initially follow an elimination strategy are likely to pursue it again, while those that couldn’t are unlikely to be swayed by the example set during Covid, said Chen Xi, an associate professor specializing in aging and public health at Yale University in Connecticut. With assistance from Jinshan Hong / Bloomberg.

Officials in sensitive government agencies must be above suspicion

Dr. Jesus Lim Arranza

MAKE SENSE

The government exists to serve the people. In an ideal world, we want empathetic public servants. These are qualified workers who have their heart in the right place, and they are working in government because they want to help the people. We want public servants with integrity so that they will be able to uphold high personal and professional standards in all circumstances.

Now, there are government agencies that are particularly prone to corruption for many reasons— perhaps due to the complexity and technical nature of regulations and processes, the high discretionary powers of the officials, and the disproportionate financial gains that can be made compared to the risk and cost of getting caught.

The appointment of officials to head sensitive government agencies, particularly those that generate huge revenues critically needed in the country’s economic development, should

dovetail with the provisions of Republic Act 6713, or the Rules implementing the Code of Conduct and Ethical Standards for Public Officials and Employees: “It is the policy of the State to promote a high standard of ethics in public service. Public officials and employees shall at all times be accountable to the people and shall discharge their duties with utmost responsibility, integrity, competence and loyalty, act with patriotism and justice, lead modest lives, and uphold public interest over personal interest”

I don’t want to draw conclusions based on these news reports. After all, these are all allegations. But I agree in the saying that where there is smoke, there is fire. Here’s my unsolicited advice: Before a person is named to head an office that generates huge revenues for the country, a thorough review of his background should first be made, if only to ensure that we appoint people with unblemished reputation in sensitive positions. Like Caesar’s wife, officials in strategic government agencies that generate revenues for the country must be above suspicion.

With the thousands of government positions that needed to be filled up, there’s bound to be lapses in the screening process. And there are circumstances where power brokers and influencers would try all the tricks in the book to push for the appointment of specific persons for their own reasons.

I have been fighting all forms of

anomalous transactions and illicit trade in the country for over four decades. And it pains me to see people being linked to graft and corruption by a respected former senator, as reported in national newspapers, being named to head an office that was once described as one of the centers of corruption. I don’t want to draw conclusions based on these news reports. After all, these are all allegations. But I agree in the saying that where there is smoke, there is fire. Here’s my unsolicited advice: Before a person is named to head an office that generates huge revenues for the country, a thorough review of his background should first be made, if only to ensure that we appoint people with unblemished reputation in sensitive positions. Like Caesar’s wife, officials in strategic government agencies that generate revenues for the country must be above suspicion.

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

Key developments in the aftermath of the Turkey, Syria quake

aNK ara, Turkey—There are reports of more collapsed buildings in Turkey and Syria after another 6.4 magnitude earthquake struck Turkey’s hatay province, which was devastated by a massive tremor two weeks ago. Syria’s state news agency, SaNa, is reporting six people have been injured in a leppo from falling debris, while the mayor of hatay says a number of buildings have collapsed, trapping people inside.

Turkey’s disaster management agency, AFAD, said the new quake was centered on the town of Defne, in Hatay province. It was followed by a second, magnitude 5.8 tremor. NT v television said the quake caused some damaged buildings to collapse, but there were no immediate reports of any casualties. The quake was felt in Syria, Jordan, Israel and Egypt. The magnitude 7.8 earthquake that struck Feb. 6 has killed nearly 45,000 people in Turkey and Syria. Turkish authorities have recorded more than 6,000 aftershocks since.

Here’s a look at the key developments Monday in the quake’s aftermath:

People trapped, abandon homes in fear

Lutfu Savas, the mayor for Hatay says a number of buildings have collapsed following the new, 6.4 magnitude earthquake, trapping people inside. Savas said those trapped are believed to be people who had either returned to homes or were trying move furniture from damaged homes.

In the Turkish city of Adana, eyewitness Alejandro Malaver said people left homes for the streets, carrying blankets into their cars. Malaver said everyone is really scared and that “no one wants to get back into their houses.”

More injuries, collapsed buildings

Syria’s state news agency, SANA, has reported that six people were injured and taken to hospital in the northern city of Aleppo as a result from falling debris shaken loose from buildings by the new tremor.

The Syrian opposition’s Syrian Civil Defense also known as White Helmets are reporting that several people have been injured in Syria’s rebel-held northwest after they jumped from buildings or when they were struck by falling debris in the town of Jinderis, one of the most affected town by the Feb. 6 earthquake.

continued from A12

the Intelligence Committee, who is pushing for the recent encounters to be included in a wider government study of “unidentified aerial phe-

The White Helmets added that several damaged and abandoned buildings collapsed in Syria’s northwest without injuring anyone.

The Syrian American Medical Society, which runs hospitals in northern Syria, said it had treated a number of patients - including a 7-year-old boy - who suffered heart attacks brought on by fear following the earthquake.

Turks urged to stay away from damaged buildings

Turkish vice President Fuat Oktay says inspections for damage were underway in Hatay and is urging citizens to stay away from damaged buildings and to carefully follow rescue teams’ directions.

The disaster management agency, AFAD, meanwhile urged citizens to stay away from the coastline as a precaution against “the risk of the sea level rising up to 50 centimeters high.”

People flee homes in Syria

Some media outlets in Syria’s Idlib and Aleppo regions that were badly affected by the new, 6.4 magnitude earthquake are reporting that some buildings have collapsed and that electricity and Internet services have been interrupted in parts of the region.

The media outlets said many people fled their homes and are gathering in open areas.

Meanwhile, the White Helmets issued an alert urging residents in the country’s rebel-held northwest to follow guidelines released earlier regarding earthquakes and how to evacuate from buildings.

Death toll approaches 45,000

The Turkish disaster management agency, AFAD, has raised the number of confirmed fatalities from the earthquake in Turkey to 41,156. That increases the overall death toll in both Turkey and Syria to 44,844.

Search and rescue operations for survivors have been called off in most of the quake zone, but AFAD chief Yu-

nomena”—better known as UFOs, short for unidentified flying objects.

Rubio, along with Democratic Sen. Dianne Feinstein of California, also jumped on the opportunity to renew a proposal to create the Space National Guard.

“China has fused its commercial,

nus Sezer told reporters that search teams were pressing ahead with their efforts in more than a dozen collapsed buildings—most of them in the hardest-hit province of Hatay. There were no signs of anyone being alive under the rubble since three members of one family—a mother, father and 12-year-old boy—were extracted from a collapsed building in Hatay on Saturday. The boy later died.

EU sees risk of disease outbreak

The European Union’s health agency has warned of the risk of disease outbreaks in the coming weeks.

The Centre for Disease Prevention and Controls said that “food and water-borne diseases, respiratory infections and vaccine-preventable infections are a risk in the upcoming period, with the potential to cause outbreaks, particularly as survivors are moving to temporary shelters.”

“A surge of cholera cases in the affected areas is a significant possibility in the coming weeks,” it said, noting that authorities in northwestern Syria have reported thousands of cases of the disease since last September and a planned vaccination campaign was delayed due to the quake.

The ECDC also warned of viral infections such as hepatitis A, parasites and bacterial infections that can all be spread by difficult hygiene conditions in emergency shelters and camps.

Syria calls for temporary housing units

Syria’s minister of public works and housing, Suhail Abdul Latif, says the Syrian government will secure 350 housing units for people displaced by the earthquake and made a call for “friendly countries” to send more.

“We will secure the affected people within our capabilities, but after a while, it is not possible to continue placing families in shelters in order to preserve their health,” he said.

Housing has been a pressing need in all the earthquake-hit areas, with many families sleeping in makeshift tents or cramming into crowded schools and sports stadiums.

Erdogan says reconstruction to start in March

Turkish President Recep Tayyip Erdogan, who faces elections in May or June, says his country will start

military and technological applications in ways no other nation ever has,” Rubio told reporters. “So it’s a multifaceted challenge and one that will require a comprehensive, long-term and committed response.”

But the bills face uncertain paths

building tens of thousands of new homes as early as next month.

Erdogan said the new buildings will be no taller than three or four stories, built on firmer ground and to higher standards and in consultation with “geophysics, geotechnical, geology and seismology professors” and other experts.

“We want to avoid disasters...by shifting our settlements away from the lowlands to the (more solid) mountains as much as possible,” Erdogan said in a televised address during a visit to hard-hit Hatay province.

The Turkish leader said destroyed cultural monuments would be rebuilt in accordance with their “historic and cultural texture.”

Erdogan said around 1.6 million people are currently being housed in temporary shelters.

Blinken praises Americans’ response

US Secretary of State Antony Blinken has praised the support provided by Americans following the earthquake.

Blinken said in Ankara that the US government had responded “within hours” to the disaster and had so far sent hundreds of personnel and relief supplies. But he said that ordinary Americans had also responded to “heartbreaking” images from the quake zone.

“We have nearly $80 million in donations from the private sector in the United States, (from) individuals. When I visited the Turkish Embassy in Washington, I almost couldn’t get in the front door because boxes were piled high throughout the driveway to the embassy,” Blinken said.

Nato sends container homes

Nato says a ship carrying 600 temporary container homes has left Italy and is expected to arrive in Turkey next week. The military alliance has pledged to send more than 1,000 containers that will serve as temporary shelters for at least 4,000 people left homeless by the earthquake.

NATO chief Jens Stoltenberg, who visited the quake-devastated region last week, called it the worst disaster in the alliance’s history.

Authorities say more than 110,000 buildings across 11 quake-hit Turkish provinces were either destroyed or so severely damaged that they need to be torn down. AP

to becoming law.

As senators were clued in to the origins of the objects shot down this month, some appeared ready to move on. Sen. Lindsey Graham, a South Carolina Republican, quipped about aliens and said “there’s just a bunch of junk up there.”

CIVIL SOCIETY GROUPS WANT AUTOMATIC DEBT PAYMENTS SCUTTLED

CIVIL society organizations (CSOs) are calling for the repeal of a Marcos Sr.-era law that mandates automatic appropriation of funds for the government’s debt service, arguing the need for public consultations to address “more urgent” needs of the country.

C SOs on Tuesday launched the Philippine Citizens Debt Audit that seeks to scrutinize the country’s ballooning debt that has reached P13.418 trillion.

T he CSOs emphasized that the country’s dependence on debt was a legacy of the Marcos Sr. administration that was carried through by the successive administrations.

T he CSOs pointed out that it is about time to repeal a Marcos Sr. law that allows automatic appropriation of funds for debt service, in order to ensure the public’s participation in the use of the national government’s coffers.

[We press] for the repeal of a Marcos Sr. law that allows automatic appropriation of funds for debt service, without benefit of public consultations and regardless of more urgent survival needs today of the Filipino

House adopts reso backing immediate RCEP ratification

people,” they said.

R ene Ofreneo, President of Freedom from Debt Coalition and Professor Emeritus of the UP School of Labor and Industrial Relations, said the automatic appropriations policy for debt service is curtailing citizens’ “right to information and participation in debt governance and management.” These public debts were and continue to be incurred in the name of the Filipino people. We are also the ones shouldering debt service payments, whether through taxes or cuts in public expenditures for health, education, job creation and other needs,” Ofreneo said.

“

Yet, we only get to know what debts were contracted after the deed is done, and then bear the consequences for debt-funded projects that may have violated human rights or destroyed environments,” Ofreneo added.

T he CSOs were referring to Presidential Decree (PD) No. 1177 issued by former President Marcos Sr. that revised the budget process “in order to institutionalize the budgetary innovations of the new society.”

Continued on A5

By Jovee Marie N. dela Cruz @joveemarie \

T he plenary adopted House Resolution 728, after the House Committee on Trade and Industry approved the same at the committee level.

I n his manifestation, economist and Albay Rep. Joey Sarte Salceda expressed his support for the ratification of the RCEP, provided that “we can address certain concerns about domestic competitiveness.”

A ccording to Salceda, the tariff reduction commitments are almost negligible, for only 14 tariff lines with import values in 2021, amounting to a total of USD131.5 million, are involved.

“

None of these tariff lines are for products where a domestic industry

is under threat. Live swine and live poultry are the closest I could think of, but it is not practical to import them in any significant way,” he said.

T his pitch, however, does not impress Sen. Chiz Escudero, who separately said, while grilling RCEP negotiators in the Senate plenary, the exclusions are no comfort for the local sectors, because under the treaty, the Executive Department or Congress can change “tomorrow, next week, next month” the exclusion lists embodied in the annex of the RCEP. See related story on page A2.

Salceda believes, though, that domestic competitiveness will not suffer

as a result of the tariff reductions.

“ The issue that could affect domestic competitiveness is someplace else—particularly in the simplification of rules of origin,” he said.

Certain products with a certain level of regional value content—or how much of its inputs are from the region—qualify for preferential tariff treatment. That is particularly relevant for complex products where inputs are from RCEP partners,” he added.

W hat RCEP proposes basically is that inputs in complex products from the RCEP partner countries will be treated as domestic input, said Salceda.

“ Therefore, depending on regional value-content rules, many of these complex products involving inputs from RCEP countries could be tariff-free when imported within these countries,” he said.

Concerns HOWEVER , Salceda noted his two key concerns, including the level of preparation of local industries as well as the Bureau of Customs and the Tariff Commission.

“ The first is what are steps being taken to prepare Philippine industries for these changes? While raw ag-

Suicide rate among youths alarms solons

LAWMAKERS on Tuesday expressed alarm over the Department of Health (DOH) report showing that 17 percent of children and adolescents reported having thought of committing suicide.

A nakalusugan Rep. Ray Reyes and BHW Rep Angelica Natasha Co made separate statements after DOH reported its 2021 study during the briefing of the House Committee on Welfare of Children last Monday.

R eyes said the DOH had reported that the suicide ideation number has risen from 597,000 in 2013 to 1.5 million kids in 2021, with only 7 percent of that number seeking help from their parents or guardians, as opposed to 25 percent seeking advice from their peers.

“ This is alarming. Our children spend most of their time learning to navigate life from what they learn at school. Their young minds are still in their formative years, and the data showing that our children prefer seeking help from their friends than their guardians only show that professional help is much needed,” Reyes said.

T he Senate hearing earlier this month revealed that at the height of the Covid-19 pandemic more than 400 students committed suicide, while over 2,000 attempted suicides in School Year 2021-2022 alone.

“ It is incumbent upon us, lawmakers, to safeguard the mind and mental health of the young. I call for the immediate passage of policies towards the institutionalization of stronger and more comprehensive school-based mental health programs to ensure a more functional and more productive society in the coming years. As such, we call on the Senate to pass a counterpart bill seeking to strengthen the mental health services in schools,” Reyes said.

T he Lower House has passed on third reading House Bill No. 06574 or the Basic Education Mental Health and Well-Being Promotion Act.  The bill was transmitted to the Senate on February 1 this year.

It directs the Department of Education (DepEd) to recruit, train, and hire additional mental health professionals in all public schools and adequately address various mental, emotional, and developmental needs of students, teachers, and school personnels.

T he measure likewise proposes

ricultural products are not subject to tariff reduction, imported processed bananas, mangoes, and pineapples from RCEP countries could be zerotariff under these arrangements, if my reading is correct,” he asked.

“

The second concern is administrative. Rules of origin are a customs valuation concern principally. Is our customs administration system prepared for these changes? What are the steps being taken at the Bureau of Customs and the Tariff Commission to prepare for these changes?” he added.

I f these concerns can be addressed, Salceda said the Philippines can better allay the fears of those who believe that Philippine industries, especially agriculture, will be hurt by the RCEP.

O n November 15, 2020, the Philippines signed the RCEP agreement, a trade agreement that covers trade areas for goods, services and investments, sustainable growth, and business environment involving the 10 member states of the Association of Southeast Asian Nations and its five other free trade agreement (FTA) partners, namely Australia, China, Japan, New Zealand, and Republic of Korea.

Continued on A5

the establishment of a Mental Health and Well-being Office in all school’s division offices and schools to cater to the needs of employees and learners. The office will then be headed by a qualified Mental Health Professional with a position of Guidance Services Specialist V.

For her part, Co expressed disappointment at the poor implementation of the National Mental Health Act and other laws, which, she says, could have prevented many of the suicides if they had been implemented. We want to see more trained peer counselors, especially those who are student leaders, the academic and non-academic student organizations. Parents’ organizations must be involved in the training of parents,” she said. We need more interagency coordination and monitoring and followup on all the cases of suicides, bullying, and violence involving students and teachers,” she added.

T he lawmaker said there must be synergy among all the implementing agencies, one hotline that the public can remember instead of the many hotlines per agency, and one concrete program that all can follow, including all barangays. We will work with the House Committee on Civil Service and Professional Regulation to address the shortage of guidance counselors. My suggestion is to have additional categories of guidance counselors— in the same way that the nursing and engineering professions have technicians, specialists, and aides,” she said.

“ We will ask the DOH to include mental health training for barangay health workers. This would be one quick way to swiftly add more people who can be first responders in communities and schools,” she added.

A lso, in recent data provided by the Department of Education, among the 28 million student population, 404 students ended their lives; 2,147 learners had attempted to end their lives in the year 2021; roughly 775,962 learners sought guidance counseling from a guidance counselor, and this is based on 2021 data that is approximately 2.85 percent of the population.

O f the 60,157 schools, there were only 16,557 guidance officers and 2,093 registered guidance counselors. Jovee Marie N. Dela Cruz

Jinggoy: Time to abolish OMB, it's now irrelevant

THE Optical Media Board (OMB) has outlived its purpose and would best be abolished, Senator Jinggoy Ejercito Estrada said on Tuesday as he filed Senate Bill No. 1904.

“The significant technological advancements in the media landscape rendered the use of video tapes and compact discs  obsolete. Today, movies and television series are consumed through digital and online platforms and streaming services. Ang mandato na dapat ginagampanan ng OMB ay hindi na makabuluhan o naaayon sa kasalukuyang panahon [The mandate that OMB should carry out is no longer relevant today],” Estrada said. I n filing SB 1904 or the proposed “Act Abolishing The OMB, Created By Virtue of Republic Act 9239, Otherwise Known As The Optical Media Act of 2003, And For Other Purposes,” Estrada said the conception and implementation of regulatory policies of the board were due to the proliferation of film piracy, most of which were illegally circulated and physically stored in optical media. T hese activities greatly affected the operations of movie houses and theaters, causing a sharp decline in cinema attendance and substantial losses to government revenues, the senator said in explaining the enactment of RA 9239 which reorganized the Videogram Regulatory Board (VRB) and paved the way for the creation of the OMB to ensure the protection and promotion of intellectual property rights.

E strada first broached the idea of abolishing the OMB during the 2022 budget deliberations when he suggested the transfer of its functions to other executive offices, the Film Development Council of the Philippines (FDCP) in particular, noting the agency’s dismal performance in the past years.

There was a steady decline in the estimated value of seized items in the last five years, from P763 million in 2018 to P305,000 in 2022. Also, no new administrative cases were filed against violators of RA 9236 last year; and by own admission of the OMB, this is because DVDs are not used anymore,” he said.

OMB is literally monitoring and regulating an already obsolete industry, Estrada stressed, pointing out that the storage medium and devices under the agency’s regulatory control are phased out already.

To address the displacement of OMB personnel, Estrada proposed to have some of them be absorbed by the FDCP, transferred to other agencies, or given separation benefits should they opt to retire from service. Butch Fernandez

CITING its benefits to the economy, the House of Representatives on Tuesday adopted a resolution supporting the immediate ratification of the Regional Comprehensive Economic Partnership (RCEP) agreement.

Editor: Jennifer A. Ng

Companies

Wednesday, February 22, 2023

Ayala Land income surges on brisk housing demand

By VG Cabuag @villygc

sue sustained growth.”

Augusto Cesar d Bengzon, the company’s CFO, said the company is targeting to raise some P60 billion this year.

Bengzon said some P20 billion will come from a bond float while the rest would be sourced from banks.

Consolidated revenues in 2022 were also up, but at a narrower 19 percent to P126.55 billion from the previous year’s P106.14 billion.

For the fourth quarter alone, the company said its income was flat at P5.27 billion compared with the P5.26 billion recorded in 2021.

t he company said it registered P104.9 billion in reservation sales for the entire year, 14 percent higher than the previous year’s figure as fourth-quarter sales rose by 24 percent year-on-year to P27.6 billion.

sa les from local Filipinos comprised 66 percent of the total, complemented by overseas Filipinos and other nationalities, with a 22 percent

and 13 percent share, respectively.

sa les from overseas Filipinos and other nationalities surged by 59 percent and 39 percent, respectively.

“All major business lines achieved meaningful recovery, a testament to our employees’ hard work and dedication,” Ayala l a nd President and CeO Bernard Vincent O. d y said.

despite ongoing challenges in the operating environment, we remain positive in our outlook for 2023, and look forward to introducing new offerings that will meet the evolving needs of the market. Our focus on customer satisfaction, operational excellence, and innovation will continue to guide our efforts as we pur-

He said talks are already ongoing with underwriters for the bonds which will go on through March, leading to pricing and float in the latter part of April.

Ayala l a nd said its capital spending this year could reach P85 billion, up by 17 percent from the previous year’s P72.4 billion. For this year, residential expenditures was at 39 percent, down from the previous year’s 50 percent of the total capital expenditures (capex).

t he rest of the capex will be for estate development at 16 percent, land acquisition at 23 percent and shopping malls at 8 percent.

Projects that were in demand last year were Ayala l a nd Premier’s Ciela at Aera Heights in Carmona, Cavite, Avida’s serin east tower 4 in tagaytay City and Patio Madrigal in Pasay

A Brown, GET sign deal for JV

Listed A Brown Co. inc. (ABCi) has signed a joint venture (JV) agreement with Get Philippines inc. to create, promote, operate and manage the ABC electric shuttle service in Cagayan de Oro.

Get will incorporate and set up a new company which it will co-own with A Brown for the purpose of initially acquiring 10 Community Optimized Managed electric transport (COMet ) electric vehicles that will be deployed for the project. Upon incorporation of its joint venture, the outstanding capital stock will be P45 million, corresponding to 45 million shares. Get will own 100 percent of the outstanding capital stock of the joint venture.

Get will transfer ownership of 22.5 million shares in the joint venture to A Brown immediately upon issuance of the 45 million shares in the joint venture to Get A Brown will pay Get P22.5 million as advance payment for the shares of Get in the joint venture. “( t he shares) that ABCi will acquire from Get will be equivalent to 50 percent equity ownership in the JV company,” A Brown said in its disclosure.

t he joint venture company will be responsible for the provision, management, service, maintenance and operation of the fleet of COMet electric vehicles for the ABC electric shuttle service in Cagayan de Oro.

t he said company will also offer

the COMet electric vehicles as an “effective marketing tool and platform for media and transit advertising for third parties.”

it will make use of the GetPA ss tra nsport ecosystem as a fleet and passenger management and monitoring system for the ABC electric shuttle service.

Get Philippines is a social enterprise that operates and manages fleets of modern zero emission electric buses integrated electric with a passenger and fleet management ecosystem as a safe, efficient and sustainable transit system and for public transport and private shuttle services at various locations in the Philippines. VG Cabuag

Prime Infra, DENR ink reforestation pact

THe Prime infra-led WawaJVCo i nc. and the d e partment of environment and natural r e sources ( denr ) signed a landmark deal for the reforestation of some 1,800-hectare area within the Upper Marikina r i ver Basin Protected l a ndscape (UM r BPl) t h e partnership, which was sealed through a Memorandum of Understanding (MOU), is in line with the vision and mission of denr and the e nvironmental, s oc ial, and Governance ( e s G) framework of Prime i n fra.

WawaJVCo is the developer and operator of the Wawa Bulk Water supply Project in r i zal province designed to deliver a reliable water supply of at least 518 million liters per day (M l d) to Manila Water and the Metropolitan Waterworks and s e werage sy stem.

“We’re very glad for this new effort on the part of the public and private sector to address the very complexity that we are facing in terms of risks for the country. t he private sector is among the leading engines of growth for the country, and we would like very much to continue exploring this type of multi-stakeholder partnerships to move the agenda of the de partment forward,” e nvironment s e cretary

Maria Antonia yu lo- l o yzaga said in a statement.

“We’re very grateful that some of our work in terms of keeping our forests whole and generating new forests will be part of the work of this group as well. t h ank you very much, Mr. r a zon, and to the group. We hope that this will be the first of many other endeavors together.”

“ t h is MOU for environmental stewardship between government and private sector reflects the commitment of both parties to develop and implement science-based strategies in support of sustainable development,” said e n rique K. r a zon Jr., Prime i n fra and WawaJVCo Chairman. “We thank the denr for making it possible for us to contribute to environmental protection and biodiversity management.”

l o yzaga and r a zon signed the MOU on February 20 with WawaJVCo President Melvin John ta n and e nvironment Undersecretary Jonas l e ones as witnesses.

Also present during the ceremonial signing were i ndependent d i rector Cesar Buenaventura and Chief r e gulatory Officer d onato Almeda of Manila Water, WawaJVCo’s customer; denr Undersecretary for Field Operations— l u-

City, Amaia’s sk ies Cubao tower 3 in Quezon City and Alveo’s Astela towers in Circuit Makati. Ayala l a nd launched 10 residential developments worth P31.8 billion in the fourth quarter of 2022, bringing the consolidated value to P91.4 billion for 30 projects by yearend.

Property development revenues reached P81.2 billion, a 7 percent growth from 2021. Commercial lot sales led the segment’s advance as revenues surged by 75 percent to P14.5 billion on investor demand for Arca south, nuvali and Broadfield estates.

in commercial leasing, revenues accelerated by 62 percent year-onyear to P33.4 billion with normalized mall rents and foot traffic, the contribution of new office spaces and higher hotel room rates.

With the resurgence in foot traffic and mobility, shopping centers and hotel revenues doubled to P16.1 billion and P6.2 billion, respectively. revenues from office leasing grew by 13 percent to P11.1 billion with the added contribution from One Ayala east and West towers.

B1

Alternergy names new independent directors

By Lenie Lectura @llectura

Alterner G y Holdings Corp. (Alternergy) an-

nounced tu esday the appointment of former tr ade s e cretary Gregory l d o mingo and Maria t h eresa Marcial, President and C e O of BP i Wealth-A tr ust Corp., as independent directors. s e cretary Greg d omingo and Ms. te re Marcial are highly distinguished professionals who will help steer Alternergy to its new course as a publicly-listed company,” Alternergy chairman and former energy secretary Vince Pérez said.

“As independent directors, s e cretary d o mingo and Ms. Marcial will bring in years of experience and expertise in government, banking and investment management. s e cretary d o mingo and Ms. Marcial are also strong champions of renewable energy and sustainability. s e cretary d o mingo and

Ms. Marcial actively promoted investments in renewable energy projects in their respective posts.” d o mingo served as d e partment of tr ade and i n dustry ( d ti ) s e cretary from July 2010 to d ec ember 2015 and was the d ti i n dustry and i n vestments Group Undersecretary and Board of i nv estments Managing Head from May 2001 to April 2004. He is also currently an Adviser to the Board of s M i n vestments Corp. and is a d i rector of B d O P rivate Bank.

Marcial is a seasoned banker who served various senior leadership positions at the Bank of the Philippine i s lands (BP i ) s h e is currently the President and C e O o f BP i Wealth, a Board d i rector of BP i A i A l i fe Assurance Corporation, BP i e u rope Plc and BP i i n ternational Finance l t d Hong Kong, and was Chief Finance Officer and Chief s u stainability Officer of BP i

z on, Visayas and e n vironment Juan Miguel Cuna; and Prime i nf ra President and C e O Guillaume l ucci and Chief r e gulatory Officer Vince d i zon.

t he MOU integrates water security, watershed protection, and forest carbon and biodiversity management in the area covering 1,800 hectares.

denr and WawaJVCo will “design, develop, and establish Afforestation, r eforestation, and r e vegetation programs” within the UMr BPl t he said programs intend to generate carbon units, based on internationally accepted voluntary carbon standards, which will enable investments in sustainable social and environmental projects for the communities where WawaJVCo and Prime i n fra operate.

t he MOU also affirms the commitment of WawaJVCo to exert best practices in stakeholder consultations with and involvement of the local community and indigenous peoples ( i Ps).

“

t h is 1,800 hectares reforestation will ensure the sustainability of our water supply, while providing a natural carbon sink program and ultimately, protect our environment and support local communities,” said l ucci. Jonathan L. Mayuga

ProPerty developer Ayala Land Inc. (ALI) said its income rebounded last year and reached P18.61 billion, 50 percent higher than the P12.22 billion recorded in 2021.

LandBank’s total agri loans in ’22 at ₧261.7B

THE Land Bank of the Philippines (LandBank) disclosed last Tuesday its total loans to the agriculture sector last year rose by 5.5 percent to P261.7 billion from P247.9 billion in 2021.

A statement from the state-run lender read that LandBank’s outstanding loans to the sector has been growing at an annual average rate of 10.4 percent in the past decade, from 2012 to 2022.

“LandBank continues to service the growth requirements of all players in the agribusiness value chain, making it the biggest lender to the agriculture sector,” LandBank President and CEO Cecilia C. Borromeo was quoted in the statement as saying.

“We remain committed to delivering timely and accessible credit to boost economic activities in the countryside and the country’s overall food production,” Borromeo added.

Of the total amount it extended to the agriculture sector, LandBank said about P46.6 billion directly benefited small farmers and fishermen, including those which were channeled through cooperatives, farmers’ associations, rural financial institutions and other conduits.

The bank added that P166.8 billion went to small, medium and large agribusiness enterprises while P48.3 billion supported the agri-aqua-related projects of local government units (LGUs) and governmentowned and controlled corporations (GOCCs).

LandBank’s statement revealed that its livestock and crop production financing accounted for P66.5 billion of its total agricultural loans while P107.4 billion was channeled to agri-processing and trading.

“The remaining P87.8 billion was used to finance other support services, including the construction and improvement of farm-to-market roads, public markets, irrigation systems, and cold storages, among others,” it added.

LandBank’s agricultural loans last year benefited about 3.5 million farmers and fishermen nationwide.

“More than 766,000 or 22 percent of these came from the 20 poorest provinces in the country, further advancing its efforts to promote inclusive and sustainable development,” it added.

LandBank said the top provinces with the highest number of beneficiaries assisted by the Bank are Nueva Ecija, Maguindanao, Bohol, Leyte, Pangasinan, Cotabato, Isabela, Cagayan, South Cotabato, and Ilocos Sur.

This year, the bank is targeting to increase the number of small farmers and fishermen cumulatively assisted by its loans to 3.6 million, among other key players in the agribusiness value chain.

LandBank said it is also intensifying its partnerships with the Department of Agriculture (DA) and the Department of Agrarian Reform (DAR) to reach and serve more farmers and fisherfolk.

“As of end-December 2022, the bank’s cumulative loan releases under the programs jointly implemented with DA have reached P15.3 billion to support over 252,000 borrowers,” it said.

“The bank also released P751.7 million to 229 agrarian reform beneficiaries’ organizations under the programs it jointly implements with DAR,” it added.

LandBank added that it is also working with LGUs nationwide “for the construction and rehabilitation of infrastructure projects crucial to creating an efficient agriculture value chain.”

“These include financing for the construction of 953.7 kilometers of farm-to-market roads, 4.5 kilometers of bridges, 50 public markets, and 14 irrigation systems, among others, from January to December 2022 alone,” it said. Jasper Emmanuel Y. Arcalas

Banking&Finance

Editor: Dennis D. Estopace

Govt raises ₧35B from T-bonds sale

By Jasper Emmanuel Y. Arcalas @jearcalas

THE national government is on a roll after it successfully raised P35 billion from the auction of Treasury bonds (T-bonds) for the seventh consecutive time.

The Bureau of the Treasury auction committee fully awarded the T-bonds as investors’ asking rates

were well below the secondary market benchmark level. The reissued 10-year T-bonds

fetched an average rate of 6.258 percent compared to the 6.351 percent secondary market benchmark rate for the same tenor of debt paper.

The rates for the T-bonds, which will mature on September 15, 2032, ranged from a low of 6.199 percent to a high of 6.3 percent, according to the Treasury.

“With 9 years and 6 months to maturity, the security fetched an average rate of 6.258 percent, which is below secondary market benchmark rates,” the Treasury said in a statement.

“With its decision, the committee

was able to raise the full program of P35 billion, bringing the total outstanding volume for the series to P115 billion,” the Treasury added.

Tuesday’s auction was 2.63-times oversubscribed as the total amount tendered by investors reached P92.254 billion, Treasury data showed.

The government seeks to borrow P200 billion in February from the domestic market through the auction of T-bills and Treasury bonds.

(Related story: https://businessmirror.com.ph/2023/01/25/government-eyes-to-borrow-p200b-

via-debt-mart/)

Tuesday’s auction reflected the first sale of debt papers this year when the Treasury was able to raise P35 billion from the full awarding of reissued T-bonds last January 3. For the whole year, the national government plans to borrow P2.207 trillion with a 75-25 mix in favor of domestic sources. In terms of domestic borrowings, the national government aims to raise a total of P1.654 trillion, P54.1 billion of which coming from the sale of Treasury bills with the remaining amount funded through the auction of T-bonds.

PHL biodiversity to get lion’s share in global environment cash pool

By Jonathan L. Mayuga @jonlmayuga

THE protection and conservation of the country’s rich biodiversity will be getting the proverbial lion’s share under the 8th replenishment cycle of the Global Environment Facility (GEF 8), an official of the Department of Environment and Natural Resources (DENR) said.

Al O. Orolfo, director of the DENR Foreign Assisted and Special Projects Services, said that with over $52-million in total allocations the Philippines is expected to “narrow the gap” for biodiversity spending. The allocation is one of the largest in Southeast Asia.

There are a dozen proposed projects for GEF 8 funding and five focal areas in which these projects are categorized. Seven of the proposed projects fall under “climate change,” three under “chemicals and wastes

and land degradation” and two projects under “International Waters.”

The DENR said the FASPS will be working with the GEF Secretariat and various implementing multilateral financing agencies in overseeing the project’s implementation during the 4-year cycle covering the years 2023 to 2026.

In implementing the GEF-funded projects, the DENR hopes to advance the country’s efforts to address environmental issues. These efforts include: tackling the drivers of ecological degradation; strengthening the country’s commitments to multilateral environmental agreements and contributing to global environmental benefits; supporting integrated approaches; and, ensuring that programs are inclusive and prioritizes the most vulnerable.

Private capital

THE projects are also being eyed to

help realign private sector capital to achieve wider scale and impact, empower local communities to harness their contributions, strengthen their capacities, protect their livelihoods, uplift their socio-economic conditions, and enhance resilience.

The GEF is the largest multilateral fund dedicated to addressing environmental threats. Established as a $1-billion pilot program of the World Bank during the 1992 Rio Earth Summit, the cash pool was created to fund environmental actions by developing countries.

The GEF funding window now serves as a financial mechanism for the UN Convention on Biological Diversity (CBD), Persistent Organic Pollutants (POPs), UN Convention to Combat Desertification (UNCCD) and the Minamata Convention on Mercury.

Now on its eighth replenishment cycle, the GEF grants have reached a

BIR grants tax perks to solo parents

THE Bureau of Internal Revenue (BIR) announced last Tuesday it has issued Revenue Regulations (RR) 1-2023 last January 18 to provide the guidelines for the availment of the tax privileges granted to establishments that are giving ten-percent discount and value-added tax exemption to qualified solo parents on their sale of goods identified in Republic Act (RA) 11861 or the “Solo Parents Welfare Act.”

“Per RR 1-2023, only solo parents that have a child/children (as defined in RA 11861) with the age of six years or under and earning less than P250,000 annually are qualified to avail of the said tax privileges,” the BIR said.

The BIR said that the 10-percent discount and VAT exemption shall apply to a qualified solo parent’s purchase of the following goods identified in the law: baby’s milk; food supplements and micronutri-

ent supplements; sanitary diapers; medicines; vaccines; and, other medical supplements. To avail of the said discount and exemption, the solo parent should present his or her “Solo Parent Identification Card” (SPIC) and “Solo Parent Booklet.”

The BIR said the ID card should show that the solo parent is entitled to the discount and VAT exemption by indicating that he or she is earning less than P250,000 annually, with the dorsal side of the SPIC showing the name/s, birth date/s and relation to the solo parent of the qualified children and/or dependents with the age of six years or under.

The BIR said the grant of the discount is only for the purchase of goods identified in the Act for the exclusive use and enjoyment or availment of the solo parent’s child or children with the age of six years or under.

“All establishments supplying any of the goods identified above

may claim the discounts granted to solo parents as a tax deduction based on the cost of goods sold,” the BIR said. “The 10-percent discount granted by the seller of goods identified in the Act shall be treated as an ordinary and necessary expense deductible from the gross income of the seller falling under the category of itemized deductions, and can only be claimed if the seller does not opt for the ‘Optional Standard Deduction’ during the taxable quarter/year.”

The BIR said the claim of the discount granted under the Act as an additional item of deduction from the gross income of the seller is subject to the conditions specified in RR 1-2023.

To ensure the full entitlement of the Solo Parent to the 10 percent discount, the sellers are precluded from billing any VAT to the sale of said identified goods to solo parents, the BIR added.

The Strategic Plan for Judicial Innovations 2022-2027

THIS is an invitation for the business community to be acquainted with the “Strategic Plan for Judicial Innovations,” or “SPJI.” This was launched last October 14, 2022 by the Supreme Court and details the specific programs and projects being undertaken or to be undertaken for judicial reform.

It has become a tiresome complaint of businessmen and others that the courts are slow in their processes, resulting in effectively denying justice to litigants. We rant against corruption and incompetence, bias and palakasan (rent seeking), complicated procedures and inaccessibility of judicial services, etcetera, etcetera.

We should read the SPJI document (https://sc.judiciary.gov.ph/spji/), listen to the Chief Justice Alexander G. Gesmundo and watch the very informative materials of the Public Information Office of the website of the Supreme Court, available on their website and other social media platforms. And take comfort and hope.

The SPJI is a product of consultations with various stakeholders and, for a strategic plan, it passes the tests

of comprehensiveness, do-ability, specificity of tasks, identification of responsibilities, measurability of performance and clarity of purpose.

The SPJI describes what is to be done and how it shall be done and why it must be done. It is “The Road to Responsive and Real-Time Justice.”

It is anchored by four guiding principles:

n Timely and fair justice;

n Transparent and accountable justice;

n Equal and inclusive justice; and,

n Technologically-adaptive management

To achieve the following outcomes:

1. Efficiency;

2. Innovation; and,

3. Access.

There is available online a digital booklet that explains all these items. It is worth spending time to read this document. Then to ponder and seek ways on how to participate in getting these outcomes achieved —for we can, as stakeholders in the business sector.

But there is nothing like listening to the Chief Justice express his resolve to get things done during his term. I listened to him and watched him present the SPJI during the Management Association of the Philippines inaugural meeting last January 31. His vision for reform was very clear. His words carried the force of steadfast purpose. His voice was assertive and confident.

We have a good leader here—for the judiciary and the country.

Santiago Dumlao is the Secretary General of the Association of Credit Rating Agencies in Asia and chairman of the market governance board and market policy committee of the Philippine Dealing & Exchange Corp. His views do not necessarily reflect those of the BusinessMirror’s.

total of 774 million with co-financing reaching over $5 billion with the support of agencies like the Asian Development Bank and the World Bank, among many others.

Counter-financing

IN presenting an overview of the GEF in the Philippines during a forum last January 18, Orolfo noted the evolution from the piloting phase during the first to third GEF rounds, the “taking-off period” under the fourth to fifth GEF rounds, Institutionalization under GEF 6, and “Going for Greater Impacts” under the GEF 7.

“Now GEF 8, we have adopted ‘Systematic and Transformational Strategies’ that will support integrated approaches and ensure programs are inclusive and prioritizes the most vulnerable projects with potential for scalable transformation or impacts,” he said.

According to Orolfo, the FASPS

and the GEF Secretariat along with other GEF agencies will integrate the different proposals.

“We are adopting the integrated approach because it is stronger and better in terms of impact,” he said.

Orolfo said the 40-percent increase in the allocation for the PHL “is an opportunity to provide some financing gaps to funding different environmental concerns.”

He said the government and the GEF actors will adopt metrics to measure the impact of the projects.

“In the end, it should trickle down to the communities but, at the same time, it should also have a global impact,” Orolfo said.

“From the project implementors, we expect them to consolidate resources.”

He noted the GEF allocation for the Philippines would be buffered by cash and non-cash counter-financing.

CRYPTO HUB? This January 27, 2022 photo shows the Hong Kong skyline from Victoria Peak, Hong Kong. Local crypto operators say their presence is clearing up any doubts about Beijing’s attitude toward Hong Kong’s efforts to become a crypto hub. The low-key support shows that officials are keen on using the laissez-faire city as a testing ground for digital assets as they keep a tight rein on any such activity on the mainland. CREDIT: BloomBERg

briefs

➜ Thrift bank names new execs City Savings Bank inc. (CitySavings) recently announced the appointment of Ana Aboitiz-Delgado as chairman of its board. Delgado, concurrently serving as senior executive vice president, chief customer experience officer and chief digital channels officer of Union Bank of the Philippines, has been credited in expanding the lender’s digital customer base. Lorenzo t Ocampo was also appointed as vice chairman and CEO of CitySavings while Manuel G. Santiago Jr. assumed the position of president and chief operating officer of the thrift bank. Outgoing CitySavings Chairman and UnionBank Chief technology and Operations Officer and Chief transformation Officer Henry R. Aguda was appointed the new president and CEO of UnionDigital Bank inc. Rizal Raoul S. Reyes

➜ Insurer launches new product

tHE Manufacturers Life insurance Co. Philippines inc. (Manulife PHL) launched last Friday a single-pay variable life insurance plan that would invest in a variety of funds. Manulife PHL President and CEO Rahul Hora was quoted in a statement as saying the product the firm calls “WealthOne” provides customers with “flexible life insurance coverage that can go as high as 500 percent of their single premium and a guaranteed start-up bonus equal to 1.5 percent.” Hora added that customers can enhance their coverage by adding protection benefits. they can also choose from a wide range of local and global investment funds to diversify and maximize their earning potential, he added. Rizal Raoul S. Reyes

➜ Lender’s investment unit honored

SB Capital investment Corp. (SB Capital), the investment arm of Security Bank Corp., was recognized by Hong Kong-based financial publisher Asset Publishing and Research Ltd. for its participation in various fund-raising activities for refinancing and capital expenditure needs. the lender said its investment arm was given the “Best transition Bond” award for its participation as a joint lead underwriter and joint bookrunner for SMC Global Power Holdings Corp.’s P40-billion fixed rate bond and the “Best Local Currency Green Bond” award for being a joint lead underwriter and joint lead bookrunner for ACEN Corp.’s P10 billion Asean Green bond. Rizal Raoul S. Reyes

Bruce Willis has frontotemporal dementia, condition worsens

NEW YORK—Nearly a year after Bruce Willis’s family announced that he would step away from acting after being diagnosed with aphasia, his family says his “condition has progressed.”

In a statement posted on Thursday, the 67-year-old actor’s family said Willis has a more specific diagnosis of frontotemporal dementia.

“While this is painful, it is a relief to finally have a clear diagnosis,” the statement read. “FTD is a cruel disease that many of us have never heard of and can strike anyone.”

BIG EGO

THE young actor reportedly complained to the network’s management because he thinks his role in the TV series that he recently did was neither lengthy nor memorable enough. This despite the fact that the series didn’t do well and that they had to rely on the leading lady’s onscreen chemistry with someone else instead of the actor to make the series more palatable to viewers. It seems that all the publicity about him being the next big thing in acting has gone to the actor’s head even if he has no proof of box-office or TV ratings appeal. Whatever public interest generated for or the actor is related to his lovelife. No one, except his publicists, says he is a good actor. He isn’t bad in the acting department but he’s definitely not the next big thing.

JUST A GIMMICK

RECENT showbiz headlines say that the actor and the beauty queen have reconciled after a brief break-up. The truth is, they never broke up. They just kept their relationship low key following the advice of their managers because, for some reason, they were getting so much hate. The beauty queen’s fans think the actor is beneath her in terms of looks and achievements. They see him as a nobody hanging on to the beauty queen just so he would have publicity for his career.

NO TO FAKES

THERE is a new page on Instagram where the administrator of the page points out which international celebrities wears fake designer bags and, so far, three Filipino actresses have been featured. One of them is a youngish actress who is no longer super active in show business. She is known for accepting products and payment from online sellers. She recently posted a bag sent to her by an online seller, which apparently turned out to be fake. The second actress is also not very active in showbiz and she was also featured in the Instagram account because of her fake bag. The third actress is known for owning the most expensive  designer handbags—but most of them, it turns out, are fake.

COPYCAT?

PEOPLE are surprised at the searches for the name of this influencer on the internet. These searches are nasty and mean. It turns out that another influencer paid good money for this to happen.

Why? The first influencer is said to be imitating so many of the second influencer’s style and even social media postings. And despite the second influencer unfriending her because of this, the first influencer continued to do her thing. So what did the “original” do? She allegedly paid an expert to mess with her alleged copycat’s searches.

TODAY’S HOROSCOPE By

Eugenia Last

CELEBRITIES BORN ON THIS

DAY: Drew Barrymore, 48; Thomas Jane, 54; Jeri Ryan, 55; Kyle MacLachlan, 64.

lobes of the brain that affects behavior, language and movement. Aphasia can be a symptom of it. The association describes frontotemporal degeneration as “an inevitable decline in functioning,” with an average life expectancy of seven to 13 years after the onset of symptoms.

“Today there are no treatments for the disease, a reality that we hope can change in the years ahead,” the family’s statement read, adding that it can take years to get a proper diagnosis. “As Bruce’s condition advances, we hope that any media attention can be focused on shining a light on this disease that needs far more awareness and research.”

Last March, Willis’s family said his aphasia had affected his cognitive abilities. The condition causes loss of the ability to understand or express speech.

In Thursday’s statement, his family said communication challenges were just one symptom of frontotemporal dementia.

The Association for Frontotemporal Degeneration describes FTD as a group of brain disorders caused by degeneration of the frontal and/or temporal

The statement was posted on the website for the Association for Frontotemporal Degeneration and signed by Willis’s wife, Emma Heming Willis, his exwife Demi Moore, and his five children, Rumer, Scout, Tallulah, Mabel and Evelyn.

Over a four-decade career, Willis’s movies had earned more than $5 billion at the worldwide box office. AP

WANDERLAND MUSIC & ARTS FESTIVAL MAKING A COMEBACK THIS MARCH

THE country’s premier music and arts festival is set to return on March 4 and 5 at the Filinvest City Event Grounds in Alabang, Muntinlupa City. The festival had a three-year long hiatus due to the restrictions of the Covid-19 pandemic.

Launched back in 2013, Wanderland has been a yearly tradition of celebrating good music and good people. It is well-known for bringing highly anticipated international indie artists together with sought-after homegrown acts on one stage.

On their eighth run this year, Wanderland has managed to pull together artists that are fresh, nostalgic and diverse with a spectacular flair of their own. It is, hands down, a champion roster for this season.

Headlining the two-day festival are French indie rock band Phoenix, and Canadian pop singer-songwriter Carly Rae Jepsen. Dashboard Confessional, FKJ, Raveena, Men I Trust, and Stephen Day are the other Western acts gracing the stage. Asian acts like Bobby, Sunset Rollercoaster, HYBS, Balming Tiger, George, and Leo Wang are all making their Philippine debut at Wanderland. ((( O ))), No Rome, Rico Blanco, Ylona Garcia, Blaster, August Wahh, Flu, The Ridleys, and The Sundown are the homegrown performers this year.

Aside from the music, Wanderland also prides itself in celebrating the arts through their

Wanderartists who perform live mural art at the festival. Each Wanderartist’s piece enhances the personality, vibrance and creativity of the festival grounds—a major factor in adding life to the event. This year’s Wanderartists are Alaga, Amiel Rivera, Faith de Leos, and Wika Nadera.

What makes Wanderland truly stand out among the rest is that it is a thematic festival. Every year, a theme is set to ensure that Wanderers get a unique and memorable experience each time they set foot at Wanderland. For 2023, they carried over their 2020 theme, sports and athletics, to finish what they’ve started then and finally get that win.

The team mentions that their greatest win this year will be Wanderers finally returning to their homecourt and seeing them connected again in real life through music and arts.

The Wanderland community has grown over the years—not only in size but especially in the sense of belonging, high spirits, and winning memories only one can experience at the festival.

Presented by Globe, and co-resented by GCash and foodpanda, Wanderland: The Comeback is happening on March 4 and 5 at the Filinvest City Event Grounds. Tickets are available at www.wanderlandfestival.com with Tickelo as the official ticketing partner. Sponsors include San Miguel Light, San Miguel Pale Pilsen, and San Miguel Flavored Beer.

HAPPY BIRTHDAY: Be discreet, secretive and change only what’s necessary. Consider how to make your life less stressful. Concentrate on physical adjustments that add convenience to your everyday routine. Create opportunities instead of waiting for someone to step in and tell you what to do next. By taking control, you will eliminate opposition and reach your goal without interference. A trendy new look will boost your confidence. Your numbers are 3, 16, 24, 29, 35, 37, 40.

ARIES (March 21-April 19): Take a break and rethink your strategy before you make a mistake. A proposal will mislead you; ask questions. Be specific about your responsibilities and what others expect of you. Staying active will help you avoid making impulsive moves. ★★★

TAURUS (April 20-May 20): Mix business with pleasure to get along better with your colleagues. Don’t let the changes you encounter discourage you from following your heart. Compensate for anything that disrupts your day or plans, and keep moving forward. ★★★

GEMINI (May 21-June 20): Get involved in something you believe in or feel you can contribute to and make a difference. First, however, eliminate dealing with anyone trying to take advantage of you. Handle business, get things done on time and avoid controversy. ★★★★

CANCER (June 21-July 22): Sign up for a class, event or activity that will allow you to use your imagination. A discussion with someone who shares your concerns will lead to a change that will make a difference at work or in your circle of friends.

★★

LEO (July 23-Aug. 22): Be receptive. What you learn will give you hope and revive your interest and ability to fight for what you want. Take the steps required to turn what you know and do well into a lucrative outlet. Self-improvement and relationship opportunities are apparent. ★★★★★

VIRGO (Aug. 23-Sept. 22): Keep your eye on the market and invest wisely. Discuss your plans with an expert. An offer will pique your interest, but until you get all the facts and figures, you should keep your money in the bank and observe.

★★★

LIBRA (Sept. 23-Oct. 22): Stand up and be counted. Speak freely, follow through and be willing to do the work yourself. Run the show instead of sitting in the audience. Show your worth, and set guidelines for those who show interest in your plans. Romance is encouraged. ★★★

SCORPIO (Oct. 23-Nov. 21): The response you receive from sharing your intentions will give you a push to make your next move. A partnership looks exciting but is unlikely to pan out if you refrain from delegating who’s responsible for what before you begin.

★★★

SAGITTARIUS (Nov. 22-Dec. 21): What you contribute will make a difference at home. Get everyone you care about involved, and a closer bond will develop that encourages you to make positive lifestyle changes moving forward. Follow through with your plans; success will unfold. ★★★★★

CAPRICORN (Dec. 22-Jan. 19): Emotional situations will confuse you. Keep your thoughts to yourself until you gather the facts and fully understand the implications involved should you address issues prematurely. Bide your time, and you’ll discover what you want and how to proceed.

★★

AQUARIUS (Jan. 20-Feb. 18): Lean on the experience you have to speed up the process of getting what you want. Don’t wait for someone to come along and do things for you. Believe in yourself and make things happen. ★★★★

PISCES (Feb. 19-March 20): Hiding out at home will give you time to rearrange rooms to suit your needs. Don’t feel you have to conform to standard procedures when your ideas and plans are innovative and can help you reach your destination.

BIRTHDAY BABY:

You have speed, agility and technique. You are versatile and persistent.

How to make fitness fun

AS a city in perpetual motion, Makati isn’t Makati without the endless stream of buses, cars and bikes plying the stretches of Ayala and Makati Avenues, the heart of the central business district. The premier city’s elevated and underground walkways are constantly bustling as well, providing thousands of pedestrians with convenient facilities to get to their destinations, whether it’s an office in a high-rise building or one of the many restaurant and retail options in world-class malls. But there are other ways this city encourages you to keep moving. Parks and open spaces like Ayala Triangle Gardens on the corners of Ayala and Makati avenues and Paseo de Roxas Street, Washington Sycip Park and Legazpi Active Park in Legazpi Village, and Jaime Velasquez Park (or Salcedo Park) in Salcedo Village attract joggers and bikers at all hours. If organized activity is more your thing, Makati has that too, in spirited dance and dojo classes. The country’s leading city for business, lifestyle, entertainment and culture even has something for adventure-seekers who thrive in the unpredictability of escape room games.

SHALL WE DANCE?

NUDE Floor at Ayala Malls Circuit offers the gamut of dance disciplines—from ballet and vogue with ballroom culture to more contemporary choices like hip-hop, popping, house, soul and funk, and waacking—not a typo, but a circa 1970s street dance. Sign up for 60-minute lessons with the studio’s reputable network of instructors and choreographers. The Studio Dance Club in Legazpi Village is a nod to the classic ballroom scene. Drink, dine and dance to timeless disco music in elegant Art Deco-inspired interiors. Born with two left feet? Let the club’s in-house dance instructors gently lead you through salsa, samba, swing, and themed dance parties like Disco Friday, Saturday Boogie Nights, and K-Pop Nights.

WHERE TO GET YOUR KICKS?

KMA Fitness and Martial Arts in Salcedo Village has something for every member of the family. Aside from Brazilian jiu-jitsu, Taekwondo, Muay Thai, judo, boxing, arnis, and fitness kickboxing, there’s even an anti-bullying course for kids. Certified instructors lead classes.

Capoeira Kadara Philippines in Bel-Air holds classes on the Brazilian discipline that marries martial arts with dance, aerobics, music, and even spirituality.

Open for both members and non-members, The Lab is a boxing and Muay Thai fitness studio in Legazpi Village that’s known for their highly skilled trainers and quality equipment amenities.

Elite Boxing and Muay Thai Gym is a new workout spot in Salcedo Village if you’re into boxing and Muay Thai training for fitness and weight loss. Its coaches include current and former national team members or professional champions who are also capable of offering advanced training for professional athletes.

Cycle House in Salcedo Village is a fun musicdriven indoor cycling studio that combines cardio and strength training, with thematic classes like its Britney nights or K-pop rides.

NEED AN ESCAPE?

LEFT Behind at Ayala Malls Circuit gives you and your gang 45 minutes to get out of a ladies’ restroom (Flushed), the basement of a house in the middle of a forest (The Basement), or a mine in the far north mountain of Amarok (The Mines). Consider it a fun after-office alternative to your usual exercise routine, or a great way to bond with family and friends.

Managing change

ONE of the difficult challenges of being a people manager is that you are now responsible for a group of people who are dependent on you for direction. This is especially true when there are organizational changes that might derail their professional and personal plans, or when they have to make life decisions because of new work requirements. When things become uncertain because of these changes, your role as a people manager is to assure your team that while things are invariably evolving, you will consistently be with them.

You have heard it multiple times—nothing is permanent except change. You need to accept that change is inevitable, and your role entails for you to move with the changes in the organization. There will be cases when the change might be something you will not agree with, but you will have to implement them nonetheless.

When this happens, management expects that you implement the changes whether you like it or not. The first thing you need to do is to be convinced yourself of the need for change. You can talk to your manager and then ask all of your questions until you are convinced. But before meeting with your manager, list down all your questions, and even the questions that your team might ask, so you will not miss anything.

Just like any change in your team, you need to walk the talk. You cannot expect your team to adopt the changes that you yourself are not doing. Your team will expect this from you so you need to accept the change whole-heartedly. If you do not agree with the change, it will be extremely difficult to implement it because it will show in your body language and choice of words. So before implementing any change, you need to be fully committed to it.

Your attitude and your actions will show your team how willing you are to adopt the change. It does not bode well for your team if you panic, or you become extremely reactive to changes in the organization. These indicate that you have not thought through all the changes that might happen. As their leader, your team looks up to you as their lighthouse in turbulent times. You need to keep your composure and think of ways to navigate the rough waters of change.

You also need to understand that change does not happen overnight. People have learning curves and you need to learn when individual team members are ready for the next stage. Make sure that every team member is ready for that stage so nobody gets left behind. When someone is struggling, you need to stop and encourage the other team members to help the straggler. This will send a clear message that everyone is important to the whole team.

Develop a clear plan for implementing the change so that expectations are managed. Part of this is establishing a clear and open communication plan. Watch out for behavioral changes and what might be hindering your team from implementing the change, and identify scenarios where your team will have difficulty applying the change. This will help you prepare for when these issues come up and you will

have ready answers for their concerns. Mitigate adverse effects by developing clear action plans when issues come up. Remember that the primary concern of your team is how the changes will affect the way they do their work. By establishing a clear path to how the team will implement the change, they can focus on their work more and worry less on what could happen. This will help minimize business interruptions and channel your team’s energies on their deliverables. This will give you time to focus on clearing their path of any obstacles that might hinder them from fully accepting the change, and looking for tools and resources that will enable them to adopt the changes to their work processes permanently. You can also hold an open forum where your team can vent out their anxieties so you can address them. If the issues are organization-wide, you can bring it to the attention of human resources or your direct manager so they can provide you clear guidance on how to address them. Take it a step further by allowing your team to approach you individually when they have questions on the changes taking place. Whatever you do in terms of communication, do not stifle their dissent. Their comments provide invaluable insight into what they are thinking and feeling. Their feedback is a rich source of issues you need to address, so you can develop appropriate action plans before the concerns become significant impediments to the change.

Get in touch with other managers and hold regular meetings for exchanging best practices for implementing the change. In big organizations, a change management team is created to address issues and concerns in its adoption.

This team is composed of different people from different departments, and they are tasked to develop information, education and communication campaigns to implement the change. This crossfunctional team is an important element in the change management process to monitor if the implementation is successful, and to provide multiple perspectives on organization-wide issues.

Reinforce the change by rewarding people who have successfully implemented it. This can come in the form of bonuses or incentives which might not necessarily be monetary. If you can, use success stories to reinforce the change and convince stragglers to at least try. This will tell others that success is possible and it will also convince others of the possible benefits they can get from the change.

Your role as a people manager is to give direction to your team when organizational changes threaten to upend your team’s status quo. Most of their concerns will be personal, so it is important to understand how your team will react to sudden organizational changes. For this reason, it is important to know your team so that when they are confronted with something unfamiliar, you can allay their fears and point them in the right direction. n

Job scams are surprisingly smart. Here’s how to not get burned

By Arianne Cohen Bloomberg News

LAST fall, Aaron Perkowitz applied for a job as a technical writer. The hirer asked him to compose a paid test article—and when he finished, requested his banking information to pay him.

Perkowitz asked why so much information was needed—couldn’t they just mail a check? No response.

“The article took me three hours,” he says, “but I’m glad I didn’t fall for their scam.” Perkowitz got off easy. Today’s scam ads are often indiscernible from legitimate listings, and can appear on reputable job sites like LinkedIn and Indeed, as well as in your inbox as phishing attacks. Other scammers extract money from applicants under the guise of background checks, security clearance, uniforms or training. Job hoaxes are getting harder to avoid. Just two years ago, reasonably savvy people could spot most scams with common sense. Most were click-andgo crimes, involving the minimum interaction to procure identity information or install malware. Today’s scams are surprisingly elaborate, with fake company websites and phone or video interviews.

“We’re seeing a willingness of cyber criminals to invest more time in an ongoing relationship with the victim,” says Steve Grobman, chief technology officer

at McAfee. We asked experts how to avoid becoming a victim. They say that 10 minutes of due diligence is mandatory: locate the company’s web site, find the street address on Google Maps, and then scan for articles and press releases that mention the company. Can you find actual employees and message them? Or if it’s a well-known company, call its offices and ask to speak to the person set to do your interview. Beyond that, here’s how to navigate savvier scams.

n Don’t be fooled by very individualized recruiting. Previously, a personalized, in-depth recruitment letter meant safety. But today, anyone with access to your LinkedIn profile can ask an AI tool like ChatGPT to create a recruitment letter that namechecks your alma mater and employers. “Scammers can now generate tailored attacks at scale,”  says Grobman. He suggests extreme caution in text-only conversations, and to look for unexpected deviations from the timeline: typically, a company shouldn’t ask for information beyond your name, phone and address before formally hiring you and sending a job offer letter.

n Tech downloads are a no-no. Unfortunately, video interviews no longer correlate with legitimacy.

A common scam is to send an online video link that enables criminals to access valuable information on

the computer, or for a hirer to say, “This is a remote position, but we need to do a scan on your equipment to make sure it meets our minimum requirements.”

Just say no. “Any request to do something to any of your technology should be a red flag,” says Grobman.

n Do not pay for anything. Really. Even if it seems like a plausible charge, such as an application fee, training program or “job placement” service.

“Legitimate employers will not ask for any money up front,” says Darren Shafae, founder of software provider ResumeBlaze, who frequently sees his customers fall prey to scams. “If a position requires you to buy something, it is likely fraudulent.” Shafae is also a fan of ignoring too-good-to-be-true jobs. “Not to sound cynical, but chances are that you’re not going to get a job that pays well for very little work.”

n Ask a lot of questions about daily job tasks. Boston career coach Amy Reeves recently had a client who was hired for a “professional marketing position” with “on-the-job training”—and when he arrived, was handed a sandwich board and asked to stand on the street. “I’ve heard lots of similar stories,” says Reeves. “They show up for their first day in a suit and are asked to sell burner phones from a folding table or pass out new flavors of hummus at an intersection.” Inquire about specifics of the day-today role.

Humility and determination: Puregold endorser Queenay Mercado maintains values as a TikTok star

Customers enjoy bigger rewards with PLDT, Smart, and Maya at SM Store

SHOPPING at SM Store becomes more exciting with the country’s largest integrated telco PLDT Inc., the fastest mobile network Smart Communications, Inc. (Smart), and the all-in-one money app Maya during all of the stores’ Three Day Sale schedules in 2023 nationwide.

“Aligned with our commitment to elevate the quality of our customer service, our partnership with SM Store allows us to serve Filipinos and delight them with rewards that can help them have amazing experiences and strengthen their bonds with family and friends whether at home or on-thego,” said Chito M. Franco III, VP and Head of National Key Accounts and Partnerships at PLDT and Smart.

“SM Store is happy to have PLDT, Smart, and Maya as our partners in achieving our goal to make the shopping experience of our customers more convenient, exciting, and fun,” said Dhinno Francis S. Tiu, EVP and Operations and Sales Support Head at SM Store.

Beginning February 15 in SM North EDSA, Smart and TNT customers can get 10 percent off on call and text cards worth P300 and P500 when they purchase at SM Store during the promo period. Shoppers who will sign

up for a PLDT Fibr Plan 1699 and up will also qualify for a free installation and activation, as well as a free Viu subscription for one month upon application.

On the other hand, newly registered Maya users can get a one-time P30 cashback on their first-ever cash-in during the three-day sale, with a minimum P1,000 single cash-in transaction at SM Store. Meanwhile, a P3, P30, or P300 cashback await existing users and new users in their succeeding transactions when they scan to pay with Maya QR, with a minimum single-receipt transaction

of P1,000. Maximum total cashback is capped at P300.

And finally, for every P3,000 singlereceipt purchase at SM Store or P1,000 single-receipt purchase of Smart products from Smart Business Center Operations enable customers to enter the raffle where they can get a chance to win a Samsung Tablet A7 Lite paired with a Smart Bro Pocket WiFi LTE-Advanced. Monitor official SM Store and Smart social media accounts for the announcement of other three-day sale dates and locations.

MAYNILAD PLANTS ONE-MILLIONTH TREE. West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) recently celebrated a milestone in its “Plant for Life” watershed reforestation program with the planting of its one-millionth tree at La Mesa Watershed in Quezon City. Present to witness the planting of this “Mega Tree” were (from left) Maynilad Head of Quality, Sustainability and Resiliency Division Atty. Roel S. Espiritu, Department of Environment and National Resources Assistant Regional Director for Technical Engr. Ignacio Almira, Jr., Metropolitan Waterworks Sewerage System Administrator Engr. Leonor Cleofas, and Maynilad President and CEO Ramoncito S. Fernandez. Maynilad’s “Plant for Life” program aims to rehabilitate and sustain the critical watersheds that replenish raw water supplies for Metro Manila and neighboring provinces. Since the program’s launch in 2007, the company has planted native trees like narra, cupang, acacia, alibangbang, apitong, and mangroves over a land area of around 755.3 hectares in Angat, Ipo, and La Mesa, as well as in the Manila Bay and Laguna Lake coastlines of Cavite and Muntinlupa. This program has also enabled Maynilad to reduce its carbon emissions by around 25,000 tons per year.

Radenta Technologies sponsors 25th anniversary celebration of Federation of Associations of Private Schools and Administrators

RADENTA Technologies, one of the country's leading IT solutions integrators was a Diamond Sponsor at the 25th anniversary celebrations of the Federation of Associations of Private Schools and Administrators (FAPSA) held recently at The Manila Hotel.

FAPSA is the biggest and leading umbrella group of over 6,000 private school owners and administrators nationwide.

This year’s theme, “FAPSA Embracing Education 5.0: Rehumanizing Digital Learning,” is the perfect avenue for Radenta to highlight its wealth of digital tools from Microsoft. Radenta’s team was on hand to give educators and school administrators a feel of how technology can help students, teachers and schools navigate today’s digital learning environment.

Microsoft figures show that 73 per cent of teachers must manage classes with students with reading levels that span four or more grade levels. Up to 50 percent of instructional time is lost in managing student needs as well as incorporating assistive technology for students with disabilities. One bright spot, however, shows that digitally enabled learning has been shown to increase competency scores by at least 30 percent.

Microsoft is the leader in digitally enabled education that promotes an inclusive environment with a comprehensive cloud solution. It comes with best-in-class built-in security that helps protect against malware, viruses, phishing and more. It manages apps and settings in all devices with a simple and unified web-based console.

There is no better way to make the most of Microsoft solutions than with its latest line of light and portable Surface Go 2-in-1 tablet and laptop. Surface tablets have touch screen display and come with USB support, dual Wi-Fi antennae, a built-in kickstand to make the tablet stand up by itself and an optional keyboard that doubles as the tablet's cover. There are three devices to choose from.

Surface Laptop Go 2 is the lightest and most affordable. Powered by Windows 11, it comes with a 12.4” PixelSense™ touchscreen and comfortable keyboard with a large precision trackpad. It has a faster 11th Gen Intel® Core™ processor and all-day battery life. Its Instant On allows you to pick up where you left off. Surface Laptop Go 2 comes in cool metal colors of Sage, Ice Blue, Sandstone and Platinum. icrosoft Surface Go 3 comes with more speed from the Intel® Core™ i3 Processor, has a built-in Microsoft Security and optional LTE Advanced. It allows a faster work pace with its touch and Surface Pen. Virtual meetings and videos look perfect with the 10.5” PixelSense™ Display. It has fast Wi-Fi 6 and seamless interaction with Microsoft apps.

Microsoft Surface Go 3 offers flexibility whether typing notes on screen, capturing photos in Tablet mode, typing on Laptop Mode, or joining an offsite video conferencing on Microsoft Teams. Builtin security and modern management keep data safe and compliant. Zero-touch deployment, once-click device manageability and protection from Microsoft reduce complexity for IT.

Microsoft Surface Laptop 5 is an excellent choice for business. It has a 13.5 PixelSense™ touchscreen for ultra-portable productivity, versatile Thunderbolt™ 4 connectivity, enhanced camera experience powered by Windows 11 for true-to-life video with exceptional lowlight capabilities and it secures data with Windows 11 Secured-core PC with a removable hard drive for data retention. Instant On allows the user to jump back to work within seconds of opening the lid. Windows Hello makes sign in effortless with password-free sign in.

Aiming to have the latest digital tools is not an easy task. One big challenge schools face is paying for devices upfront. This prompted Radenta to start its Device Leasing Program. Under the program, schools can pay for the devices and Microsoft subscriptions monthly or on an agreed upon flexible payment terms. There is low initial cash out and the schools can purchase branded equipment from a list of choices.

The program is only available to schools to build their 21st Century Classrooms for future-ready students. It offers Microsoft Surface, Huawei, Acer, HP, Lenovo, Realme, Xiaomi, Dell, and Samsung. The school must purchase a minimum of 10 devices to include laptop, desktop, and mobile phones. Other devices like printers, smart TVs and projectors can also be negotiated.

ONE incredibly powerful impact that social media has had on the world today is its ability to launch seemingly ordinary people to superstardom. There’s no telling just what the next viral video will be, but when it hits, it does with unmistakable force.

Such is the case of Queenay Mercado, one of TikTok’s fastest rising sensations, whose “panalo” story is primed to inspire and motivate Puregold’s young, aspirational customers. Queenay, in fact, relates how the values of initiative and persistence have played a part in her life journey.

Long before fame and success came, Queenay was a simple probinsyana who grew up in her hometown in Batangas. She did not show much promise, then, and stardom was just a distant dream for her. As a kid, Queenay first needed to hurdle a few speed bumps, including being called “Broiler” for being plus sized.

But Queenay was undaunted. As a showbiz aspirant, she participated in acting workshops, hoping these would open doors for her. For the longest time, however, she only snagged bit roles. At one point, Queenay’s sole “claim to fame” was being glimpsed for a few seconds in the background of some GMA 7 teleserye.

Thankfully, Queenay’s flair for selfexpression led her to video-sharing platform, TikTok. That was when Queenay’s profile really took off. To date, she has accumulated over 13 million followers, attesting to how her charm and appeal can generate a rabid following.

Puregold has trained the spotlight on

PUREGOLD has trained the spotlight on Queenay’s talents through TikTok’s “52 Weeks.”

Queenay’s talents through TikTok’s “52 Weeks,” the 36-episode series that starred Queenay in the leading role of Mina, alongside co-star Jin Macapagal. Queenay has also joined the cast of the TV5 sitcom “Oh My Corona”. All this time, the TikTok sensation has remained unaffected, an attitude that endears her to her legions of followers. Queenay’s phenomemal rise to prominence proves that determination and a healthy mindset trump any or all challenges. And if one wants to be happy, humility is important to have as well.

Esports team Smart Omega gears up for upcoming mobile games competition in Southeast Asia

Starting February 18, Smart Omega will field Kelra, Raizen, Renzio, Mikko, Stowm, and Louis to battle it out with seven other teams in the league for the crown.

With a new roster for the new season, what can fans expect from Smart Omega? A journey towards redemption, according to head coach Ynot Senedrin.

“We still got most of our roster from last season, and we added some new talent. Our offseason training was good, and we can definitely see the team’s strengths and potential. We’re looking forward to seeing them in action,” Senedrin said. With the goal of becoming the champion, Smart Omega thanked their fans for their unending support. “Babawi kami sa inyo guys, ipapakita natin ang lakas ng Barangay Omega!” Senedrin added.

SMART Omega, the professional esports team backed by Smart Communications, Inc. (Smart), is gearing up for the upcoming Mobile Legends: Bang Bang Professional League, the biggest mobile games competition in Southeast Asia.

“We are excited for the new season of MPL and the fruits of the perseverance of our young esports athletes, who never gave up despite the challenges in their journey. As a staunch supporter of esports and our Filipino athletes, it is our privilege to provide them with the right tools and training environment for their success. We’re wishing Smart Omega all the best for MPL Season 11,” said Jude H. Turcuato, FVP and Head of Sports at PLDT and Smart.

As the longtime official telco partner of MLBB in the Philippines, Smart has cemented its position as a staunch supporter of e-sports - including e-sports athletes, fans, game publishers, and tournament organizers - in the country.

Filipino gamers can enjoy leveled-up gaming experiences powered by Smart, the Philippines' Fastest and Best mobile network, according to Ookla, the global leader in mobile and broadband intelligence.

Ookla recognized Smart as the Philippines’ Best Mobile Network after dominating two crucial Ookla Speedtest Awards categories, namely the “Fastest Mobile Network” and “Best Mobile Coverage,” in Q1-Q2 2022.

Discover the Taste of 2023 with NutriAsia Foodservice

NUTRIASIA Foodservice kickstarted a flavorful year with the launch of Taste of 2023, a series of exclusive events bringing together the tastemakers and key players of today's food industry. Sharing their passion for delicious food and supporting local businesses, NutriAsia Foodservice created an avenue for everyone to share innovative insights as they gear toward an exciting culinary year.

Starting the roadshow was the recently concluded Food Trends and Flavor Forecast held at The Grid, Powerplant Mall in Rockwell Center. The program aimed at giving the attendees value-adding knowledge they can leverage in igniting their passion for exploring new flavors, creating a harmonious workplace for their staff, and sharing their delectable creations on social media.

Hosted by Philippine Tatler and awardwinning cookbook author Angelo Comsti, the first part of the event dived deep into the food trends and flavors that will take the food industry by storm in the coming year. And to complete the experience, the chefs and restaurateurs were treated to a menu showcasing these food and flavor trends.

Isabel Lozano, the Director of Hospitality for Antonio's Group of Restaurants, then graced the event to share her expertise on staff care and management, emphasizing the importance of caring for the staff and investing in their growth and development as

integral members of food businesses. Finally, to help attendees navigate their way through today's digital world, Maxine Sanz, Co-founder and Chief Marketing Officer of Butternut Bakery Group, discussed the basics of social media for food brands. A fascinating topic to the guests, she shared top tips and readily answered questions about creating an effective social media presence. The Taste of 2023 is for everyone, whether big or small businesses, to expand their network and knowledge in navigating the changing demands of customers and challenges brought about by the postpandemic market. And as an exclusive event, it is one of the many benefits one can get as a NutriAsia Foodservice Partner.

OFWs’ remittances boosting property sector’s growth

By Rizal Raoul S. Reyes

pursued by the Marcos administtration is a good stimulus to encourage developers and buyers as well to venture into areas outside the National Capital Region.

“OFW remittance growth to help lift demand for vertical and horizontal residential projects. We see the development of more extensive integrated communities outside Metro Manila,” Colliers Philippines said its latest report.

Lumina, TFC make OFW’s dream come true

In a recent online press briefing, Santos Knight Frank Chairman and CEO Rick Santos stressed that the remittances are a big boost to the local property sector as investing in the real estate through buying a horizontal or vertical housing unit is one of the priorities of a typical OFW working across the different parts of the world.

“Investors are capitalizing on the arbitrage on the prices across different markets as part of boosting the investment portfolio,” he said.

As the housing demand continues to rise, Santos pointed out this will benefit more developers

around the country to meet the housing needs of the OFWs. After a positive 2022 fourth quarter performance, Santos emphasized the sector expects the rebound to accelerate in 2023, “propelled by a resilient and stable economy and by the sustained growth of OFW remittances and household spending, weathering headwinds such as interest rate hikes and inflation.”

“Second homes will still be on the rise in emerging estate developments and destinations,” he said.

Further, Santos said the infrastructure development being

Luzv I MIN dA PELON , a n OFW based in Kuwait, achieved her dream to her own abode through the partnership between affordable housing developer Lumina and The Filipino Channel (TFC), a 24-hour global subscription television network that is patronized by OFWs all over the world.

For Pelon, purchasing or building her own home is a major step to achieve a “better life” in which they may envision their families leading safe, secure, and comfortable lives through the years.

This is an aspiration that OFWs share with most average Filipinos, one that Lumina Homes is

Golden Gibbon swings into resto space of real estate

committed to help fulfill. As the affordable housing arm of v i sta Land, the country’s largest integrated property developer, Lumina Homes has over 50 residential projects across the Philippines, which include Rizal, Bulacan, La u n ion, Pangasinan, Cagayan, Nueva Ecija, Bataan, Pampanga, z a mbales, Tarlac, Cavite, Batangas, Laguna, Quezon, Albay, Sorsogon, Negros Occidental, Iloilo, Cebu, z a mboanga del Sur, Bukidnon, Misamis Occidental, Agusan

del Norte, and d a vao del Norte.

These are key cities and towns that most of our migrant workers call home, places that they will want to go back to and resettle in when they retire.

In appreciation of the hard work and sacrifice of our kababayans abroad, Lumina Homes forged a partnership with TFC to harness the huge following by launching last year its Win a Home Season 3 promo among its subscribers in Europe and the Middle East. By

registering with Lumina Homes’ newsletter, and uploading photos of themselves sending money home using the d i ng app, OFW promo participants qualified for the grand draw where a brandnew Lumina house and lot was raffled off.

The grand draw, which was held last d e cember and streamed live on TFC’s official YouTube channel and Facebook page, had Pelon as the lucky winner of a brand-new Angelique Townhouse unit.

Lumina’s Angelique Townhouse is a well-designed 35-sq-m home, with thoughtfully laid-out living spaces such as living and dining rooms, a kitchen, a toilet and bath, provisions for two bedrooms, a carport, and a service area. It was an auspicious way for Pelon’s family in the Philippines to jump-start the new year and see, first-hand, why Lumina Homes was recognized as the Best Affordable Housing d e veloper in the 2021 Carousell Property Awards. For Pelon, it was a sweet reward as she had to leave home to toil in far-flung countries, enduring loneliness in order to provide a better life for their loved ones.

Holcim reaffirms commitment to decarbonizing construction, affordable housing

LEA dIN g bu ilding solutions provider Holcim Philippines, Inc. reiterated its readiness to support partners in decarbonizing construction and putting up affordable homes and called for cooperation to accelerate the shift towards more sustainable practices during key public forums.

By Roderick L. Abad

THE hospitality and restaurant seg -

ments, along with other real-estate sectors, are now back in business as the economy reopens with the easing Covid-19 pandemic.

Shaka Group enters the foodie and party scenes of Manila, bringing in another deliciously sustainable experience with the Golden Gibbon.

Located along L.P. Leviste Street, Salcedo Village in Makati City, this new casual fine dining/bar is inspired by the critically endangered Golden Cheek Gibbon.

Once commonly seen swinging high in the canopies across the tropical forests of Vietnam, Thailand and Borneo, the Gibbon’s now invades the concrete jungle of the Metro.

Within its small intimate nook, it raises

the bar on traditional expectations of cultural South East Asian cuisine.

This is where conventional kitchens across the region meet to come up with the best fusion of contemporary dining experience in the country.

Through his gastronomic creations while raising awareness on the verge of extinction and habitat loss of this amazing specie, Executive Chef Nino Laus of Nino’s & Agimat restaurants takes a cue on the vast history of flavors and distinctive ingredients to produce a special menu fit for every season.

What a better way to pair his sumptuous offerings than a glass of tantalizing cocktails created by renowned mixologists Larry and Sharleen Guevara of Liquid Concepts PH.

To bring foodies and bar goers in the mood to devour and unwind, Huephoria Interiors’ Amanda Brodett designed the

Golden Gibbon with an elegant wine and dine spaces set in the wilderness.

Sustainably run with a purpose, a part of its profits is shared to reforestation programs and Gibbon rehabilitation services region-wide.

“It’s this pledge that encourages us to provide all of our customers with an exceptional experience of both flavor and hospitality. We aim to foster an inclusive environment that comes together to celebrate life, beauty, cultures and environment of the subtropical Asian region,” said Ben Plummer, chief executive officer and founder of Shaka Group.

“Our goal is to be a destination where people can come together, share meals, clink glasses and create everlasting positive memories with family and friends, finding joy and splendor in the gracious gibbon!” he added.

As keynote speaker during the Net z e ro Building and Net z e ro Summit Philippines on January 10, Holcim Philippines President and CEO Horia Adrian emphasized the important role of the construction industry in reducing the country’s carbon emissions. He noted that building materials account for 30 percent of the carbon footprint of structures, so it is necessary for the industry to steadily shift towards alternatives that are better for the climate.

Adrian explained that Holcim Philippines is committed to supporting partners in this transition and is accelerating sustainability initiatives from greening operations to expanding its eco-friendly offerings. Adrian said Holcim Philippines is digitalizing operations to raise the efficiency of production and logistics. The company is also using more alternative fuels and expanding its line of innovative blended cement that delivers equal to superior performance but with a lower cost to the environment.

“Holcim is committed to providing solutions for building more with fewer materials, new buildings using recycled materials from old structures, and more efficient buildings using smart design and materials. We are excited to work with partners in building greener, smarter, and for all in the Philippines to better contribute to the country’s progress,” he said.

Since 2015, Holcim Philippines has reduced its carbon footprint by 12 percent by producing more blended cement, replacing coal with qualified wastes as alternative fuels, and improving the efficiency of operations. The company’s carbon footprint reduction program is aligned with the Holcim g rou p’s net zero direction and the country’s Nationally d et ermined Contributions. Aside from its initiatives, the company is working with key stakeholders to encourage the consumption

of low-carbon products to help reduce the footprint of the built environment.

Meanwhile, Holcim Philippines Chief Sustainability Officer z o e Sibala shared the importance of new building materials and modes in constructing affordable houses during the ShelterTech Southeast Asia Community forum on January 16, organized by the Terwilliger Center, the innovation unit of Habitat for Humanity.

Sibala explained that choosing the right cement can help build better affordable houses and shared the exciting building innovations from the Holcim g roup, such as 3 d building technology that the company can bring to the Philippines. She also invited affordable housing segment players to a conversation on new construction technologies and modes that can support the achievement of goals.

The remittances of the Overseas Filipino Workers is one major reason behind the strong macroeconomic foundation of the Philippine economy. As of November 2022, remittances hit $2.93 billion, up by 5.8 percent from the same month of 2021.

H O LC im Philippines President and CEO Horia Adrian shares the company’s efforts to decarbonize building during the Net Zero Building and Net Zero Summit Philippines 2023.

LumiN A Homes has over 50 residential projects across the Philippines.

LumiN A’S Angelique Townhouse is a well-designed 35-sq-m home, with thoughtfully laid-out living spaces.

SKF Philippine Real Estate Outlook 2023 Panelists: Rick Santos, Chairman and; CEO of Santos Knight Frank, marievie Gimena, Associate Director &; Head of Residential Services and morganmcGilvray, Senior Director for Occupier Services.

PAL

with Seniors play

THE big guns are keeping their cards close to their chests with defending champion Canlubang shooting “just to keep it close” after the first day of skirmishes Wednesday in the 74th Philippine Airlines Interclub Seniors championship in Cebu City.

The opening round will be at wellmanicured Alta Vista and Cangolf mainstay Tommy Manotoc refused to bare their opening four even as Luisita is having its practice round late Tuesday with non-playing skipper Jeric Hechanova deciding hours after.

We just want to keep it close after the first round,” Manotoc said when asked of the type of lineup that will get Cangolf’s title defense under way. “What I can tell you is that we can’t afford to fall behind big early, because Luisita is very, very strong.”

Hechanova, meanwhile, said that players who play well in the team’s practice round under heavy rain on the eve of the event will get the call as he emphasized his belief that there won’t be one course that will decide this year’s edition.

We have to play well all four days,” Hechanova explained. “Our players know that we can’t wait for the other teams to play bad. If they (opponents) play well, we need to play great.”

M anila Southwoods and Del Monte are the other teams in the Championship division, although Manotoc believes that Cebu Country Club, even if it is playing in the lower Founders class, is a contender for the overall title.

C lub Filipino will host the next two rounds, and Manotoc sees this one as the tiring version of the two mountain layouts.

Anything can happen there,” Manotoc said. “Anyone with local knowledge of that course definitely has an advantage.”

The annual event, considered the country’s unofficial national team championship, was shelved for two years due to the coronavirus pandemic, and the 74th staging of the event is supported by platinum sponsors ABSCBN Global, Asian Journal, Airbus and NUSTAR Resort and Casino.

G old sponsors include Radio Mindanao Network, Mastercard, Primax, University of Mindanao Broadcasting Network, PLDT/Smart and Konsulta MD.

Joining the event as silver sponsors are Philippine National Bank, Biocostech and VISA. Minor sponsors are Bollore Logistics, Tanduay Brands International, and Asia Brewery while donors are Department of Tourism, Ogawa, Newport World Resorts, Rolls Royce and Boeing.

LOS ANGELES—The vantage point was as good as any at Riviera for a clear view of Tiger Woods, and considering how little he plays, Tiger sightings are rare these days.

T he man positioned himself behind a stationary TV camera in a tower behind the 12th green as Woods made his way to the 13th tee. He was talking. He was loud. He wouldn’t stop. At one point, Christiaan Bezuidenhout had to back off his shot.

Turns out this wasn’t a cameraman. When asked to show his credential, the man leaned over and slowly raised a can of beer. He came down from the tower, went back outside the ropes and two Los Angeles County sheriff’s deputies escorted him off the course.

Th at probably—no, definitely— will not happen at Augusta National, which may very well be the next time golf gets to see its biggest star. Then again, Woods might make his way to the TPC Sawgrass in three weeks for The Players Championship.

Woods said he wants to play the four majors and a few other events. What those tournaments are, no

THE Philippines’s Rianne Malixi shared the early lead in the individual category lead with a four-under 68 while South Korea paced the team competition at the start Tuesday of

Wednesday, FeBruary 22, 2023

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

Hidilyn’s focus doesn’t include Hangzhou Asiad

By Josef Ramos

HIDILYN DIAZ-NARANJO

is opting for a meticulous 2023 season calendar as she focuses on returning to the Olympics in Paris 2024.

Th at could mean this September’s Hangzhou 19th Asian Games would be stricken off because it’s not an Olympic qualifying event.

We’re thinking and considering about not participating in the Asian Games,” Diaz-Naranjo told BusinessMirror on Tuesday. “We have to choose Olympic qualifying-standard tournaments over the Asian Games to conserve strength and energy.”

TIGER SIGHTINGS GETTING SCARCE

one knows. And if Woods does, he isn’t saying.

Here’s the deal,” Woods said Sunday after finishing his first tournament since the Masters last year. “I’m not going to play any more than probably the majors and maybe a couple more. That›s it. That›s all my body will allow me to do. My back the way it is, all the surgeries I had on my back, my leg the way it is, I just can’t.

That’s just going to be my future.”

The schedule is not based on a score. It’s what happens after he signs his card, and what he does before he is announced in between, and what sounds like plenty of ice and other treatment.

A s for his golf?

S ome of it was great, some of it was pedestrian, none of it was boring. That explains why thousands were waiting for him around the first tee on Thursday morning for his first tournament in seven months, and chanted his name when he finished on Sunday.

Been in front of large crowds before, but not 10,000 people that’s rooting for one guy in the group,” Bezuidenhout said Saturday after watching Woods post a 67, his lowest score on the Professional Golfers Association (PGA) Tour since October 2020, which was only five tournaments ago.

M atthias Schwab of Austria also was in the group. He said he

has played with Rory McIlroy a few times on the European tour and experienced big crowds.

This was another level,” Schwab said.

That’s to be expected no matter where he goes because Woods plays so infrequently. Part of the pandemonium is that he is playing at all.

It was two years ago when his SUV went off the road in the Los Angeles suburbs going nearly 87 mph and tumbled down a hill. He spent the summer in a makeshift hospital bed in his Florida home. He was swinging a club in November, playing a 36-hole event with his son while riding a cart in December and playing the Masters five months later. AP

Malixi shares pace in Sirikit Cup with 68 at Southwoods

the 43rd Queen Sirikit Cup at the Manila Southwoods Golf and Country Club in Carmona, Cavite.

Two South Koreans broke par at the tough Masters course to open up a one-stroke lead over New Zealand and Thailand and two over defending champion Japan.

The Philippines—behind Malixi’s hot start—was in the hunt three shots behind the leaders.

S eo Kyorim carded a 69 and Yoo Hyunjo submitted a 70 for South Korea’s 139, while Fiona Xu scored the same 68 as Malixi’s and Vivian Lu finished with a 70 for the Kiwis’ 140 for the day.

Thais Thitikarn Thapasit and Achiraya Sriwong tallied 70 each later in the day to also book 140, while Japan was at 141 on world No. 5 Yuna Araki’s 70 and Mizuki Hashimoto’s 71. R afy Singson scored with a 74 for the Philippines, which shadowed the leaders at 142. Lois Kaye Go’s 77 did not count in the three-to-play, two-to-count tournament officially known as the Amateur Ladies-Asia Pacific Invitational Golf Team Championships. We’re not too far behind but there are a lot of things that we can improve on,” Team Philippines captain Ann Granada said. “We’ll try to fix some and

Clash of top guns up at Anvaya Cove International

THE Ladies Philippine Golf Tour (LPGT) opens its new season in the most riveting fashion— pitting two Ladies Professional Golf Association (LPGA) Tour veterans and Taiwan’s No. 1 in the first round of the $100,000 Anvaya Cove Ladies International beginning Wednesday in Morong, Bataan. I n a sprint race, this being a 54-hole championship, every shot counts and PK Kongkraphan and Ya-Chun Chang have stressed the need for ball control on a well-kept, risk-and-reward Anvaya Cove course

PAL Interclub’s back

NICE that the Philippine Airlines (PAL) Interclub golf events have resumed full blast. It is good for the sport. It is good for the game’s practitioners. It is good for Philippine sports.

W hile the tournament has always been a showcase for established stars to unravel their heart-stopping skills yearly for 70-plus years now, it also has been a vehicle to discover talents deemed destined for greatness.

and local ace Bianca Pagdanganan expects to produce no less than stellar play while ranged against the best in the fold.

The three are the main talking points in the run-up to the kickoff leg of this year’s LPGT, which also serves as the second event of the 2023 LPGA of Taiwan (TLPGA), and they hope to deliver with the seasoned Thai looming large with her talent and vast experience, having competed in the LPGA Tour for eight years, nearly three times over the Filipina’s abbreviated stint in the world’s

How many of our golfing legends have emerged as gallant products of the PAL Interclub?

Too many too mention.  Luis “Golem” Silverio,  Tomas Manotoc and Frankie Minoza are but three of them.

These PAL Interclub alumni—Manotoc is still courageously at it even as he is 70sh now—have graced the world stage of the game and, in the process, have brought honor to the country.  The PAL Men’s Seniors ending February 25 features the nation’s most passionate practitioners of the sport aged 55 and above; they stubbornly defy Father Time’s admonitions.

T he PAL Men’s regular is set from February 26 to March 4, which is the centerpiece event in the tournament’s 74th edition.

A s I said, you will see all shades of golfers eager to trade shots in another hot but friendly atmosphere of competition, persevering to forget the unsweet sorrow of a cherished tilt shuttered haplessly during the two-anda-half year pandemic.

I h ave a special affection for the PAL Interclub not only because I’ve been covering it since 1977, but also because I’ve been religiously playing in the event’s side event, the PAL Media Golf.  A nd, modesty aside, I won it during the tournament’s

premier ladies pro circuit.

C hang, 22, is billed as the future of Taiwan women’s golf after emerging on top of her country’s pro circuit last year, barely five months after she turned pro that had her winning one and turning in at least three Top 10 finishes.

“ I’m just doing what I’m supposed to do, step by step, and not paying too much about the results,” said Chang, who will be as much tested as Kongkraphan and Pagdanganan in their most-awaited 8 a.m. clash on No. 1.

hopefully that will translate into good scores in the second round.”

M alixi said she could have done better.

I scrambled for pars in the first few holes. I did not play competitive golf prior to Queen Sirikit and getting rid of the rust,” Malixi said. “But when I eagled the sixth hole, things turned around and I got back into the groove.”

I kinda figured out what was wrong and recovered just in time,” she added.

Avani Prashanht joined Malixi and Xu up front in the individual race with India also carding a 142 total to sit alongside the Philippines in the team standings.

Diaz-Naranjo is practically starting from scratch as she seeks a second Olympic gold medal in a heavier weight class at 59 kgs. She won silver (Rio de Janeiro 2016) and finally gold (Tokyo 2021) at 55 kgs, an event scratched from the Paris program.

We’re prioritizing so we really get to have quality recovery and rest to gain more strength for the Olympic qualifiers,” said Diaz-Naranjo who simply celebrated her 32nd last Monday with her Team HD, close relatives, friends and students in her weightlifting camp in Jala-Jala, Rizal. At the end of the day, our goal is to chase another gold medal in Paris,” said Diaz-Naranjo who earlier declared she’s passing the opportunity to win gold at the Cambodia 32nd Southeast Asian Games in May.

The International Weightlifting Federation (IWF) set a Paris Olympics qualifying window between August 2022 and April 2024 with DiazNaranjo passing with flying colors her first qualifier at last December’s Bogota world championships where she swept three gold medals.

Diaz-Naranjo needs to participate in at least six qualifiers for Paris and she has several chances at the Senior Continental Championships in South Korea in May, three IWF Grand Prix tournaments the venue and dates have yet to be announced, IWF Worlds 2024, Senior Continental Championships 2024 and the IWF World Cup.

Training is a priority because we can always celebrate after,” DiazNaranjo’s husband and coach Julius Naranjo said. “The weight of the country weighs on our shoulders and we will continue to lift it up with God’s grace.”

Hangzhou is hosting the Asian Games—where Diaz-Naranjo won gold in the 18th edition in Jakarta in 2018— from September 23 to October 8.

Two-time world gymnastics champion Carlos “Caloy” Yulo is also skipping Hangzhou in favor of the world championships, an Olympic qualifier Belgium is hosting in Antwerp simultaneously with the Asiad from September 30 to

NBA gets ‘panda’ as partner

Golden Anniversary in 1997 held in Bacolod and Victorias.

So imagine the thrill I had when I received the invite for me to play in the February 26-27 tournament from Jose Enrique L. Perez de Tagle, the amiable PAL vice president for corporate communications. My heart had skipped a beat.

I s aid to myself that even as I have only played two rounds of golf since March 6, 2020, I will not miss it for the life of me.

My 1997 PAL Media victory remains as my most memorable golf triumph ever as it earned me two PAL business class tickets Manila-New York-Manila. A career highlight etched in stone.

I f only for that, I swear never to miss a PAL Media Golf. Cross my heart.

THAT’S IT Do you know that Jorge Gallent, the newlyminted San Miguel Beer coach, won the low-gross honors in the just-ended Mango Tee at Alabang, shooting 74-64 to win by a whopping seven strokes over his closest pursuer?

He’s not even a zero-handicapper; he has a -3 handicap.  No wonder he’s that good, too, in basketball coaching.  Cheers coach!... Condolence to the loved ones of my balae Tony Royeca, who, at 84, had passed

THE National Basketball Association (NBA) announced over the weekend a marketing partnership that makes foodpanda the league’s first official online food delivery platform partner in the Philippines.

The announcement was made Sunday ahead of the 72nd NBA All-Star Game through NBA Philippines Senior Director of Global Marketing Partnerships Mae Dichupa and foodpanda Philippines Director for Growth Guilherme Porto at an event at the SM Mall of Asia Music Hall in Pasay City.

T he event featured a shooting contest for local amateur players, foodpanda App users and foodpanda delivery riders.

Th rough the collaboration, foodpanda will also serve as an official partner of next month’s NBA 3X Philippines presented by Mountain Dew.

“ Filipinos are known for their immense passion for basketball and in the same way that the NBA is among the most popular sports leagues in the country, we’re committed to shaping foodpanda as the preferred choice of local consumers for online food delivery,” Porto said.

D ichupa said: “We’re excited to welcome foodpanda to the NBA family and to deepen our engagement with our passionate Filipino fans by leveraging foodpanda’s avid subscriber base.”

CHEERDANCERS thrill the crowd during the partnership launch over the weekend.

TIGER WOODS fans wearing tiger-printed shirts follow their idol wherever he shows up. AP

DANAO City Mayor Thomas Mark “Mix” Durano hits the ceremonial drive at the Club Filipino in Danao City.