BusinessMirror January 19, 2023

EXCEPTIONALLY well-performing. is was how International Monetary Fund (IMF) Managing Director Kristalina Georgieva described the country’s economic performance during her meeting with President Ferdinand R. Marcos Jr. on Tuesday.

Georgieva said she was impressed with how the country was still able to grow significantly despite the international global challenges last year caused by the pandemic and the Ukraine-Russia confl ict.

Last month, the Department of Finance (DOF) said it expects the country’s gross domestic product (GDP) for 2022 will be at least 7.5 percent.

“We found the Philippines to be an exceptionally well-performing

@caiordinario

THE rise in prices of food and other commodities may be more pronounced in regions outside Metro Manila making it necessary to monitor these conditions for the country’s price and fi nancial stability, according to the Bangko Sentral ng Pilipinas (BSP).

In the 4th Regional Macroeconomic Conference Series (RMCS) South Luzon, BSP Governor Felipe M. Medalla said the central bank “cannot overlook” regional or local developments.

“Developments at the regional level also inform the way we carry out our fi rst and second pillars—price stability and fi nancial stability,” Medalla said. “It would

be remiss for the central bank to overlook such nuances and differences across regions to inform its policies.”

In a presentation on Wednesday, BSP Department of Economic Research Acting Director Roselle Manalo said the growth of regions such as Calabarzon and Bicol are well-supported given the positive overall business confidence. is confidence is driven by the continued reopening of the country, including Calabarzon and the Bicol region which will ensure the continued recovery of local businesses.

However, fi rms are less optimistic when it comes to consumption spending and enrollment rates mainly due to rising prices as well as higher interest rates.

GLOBAL semiconductor players are looking at tapping the Philippine semiconductor industry to deepen the country’s role in the global semiconductor supply chain and to support US fi rms in the endeavors under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act, according to the Board of Investments (BOI).

“While the CHIPS Act aims to increase the capacity of the US semiconductor industry, we recognize that we cannot do it all in the US. And that’s where countries like the Philippines have an opportunity,” Semiconductor Industry Association (SIA) President John

Neuffer said.

Neuffer added that the CHIPS Act encourages manufacturing in America, but rather than reshoring all manufacturing activities, it is more of “rebalancing the supply chain.”

e BOI said in a news statement on Wednesday that “while the CHIPS Act incentivizes the manufacturing of microchips domestically in the US, there remain several segments in the semiconductor supply chain such as assembly, testing, and packing,which are more cost effectively conducted outside of the US.”

According to its website, SIA represents 99 percent of the United States’s semiconductor industry by revenue and two-thirds of non-US

chip fi rms. BOI said many of SIA’s member fi rms have “significant” investments in the Philippines including Analog Devices, Onsemi, and Texas Instruments, among others.

For his part, BOI Managing Head and Trade Undersecretary Ceferino S. Rodolfo expressed appreciation for the US semiconductor industry group’s confidence in the Philippines’s investments prospects.

“We thank our US partners for the opportunities that you have presented, and for recognizing the Philippines as one of your key partners. We, in the Philippine government, stand with the local semiconductor industry in promoting partnerships and enhancing local

capacities and competencies in semiconductor manufacturing to deepen the country’s role in the global semiconductor supply chain and be able to further support US companies in its endeavors under the CHIPS Act,” Rodolfo said.

On January 16, SIA, led by its President and CEO John Neuffer and its Vice President for Global Policy Jimmy Goodrich, made a courtesy call on the BOI managing head, said the investment promotion agency.

Apart from the courtesy call, the BOI arranged round-table meetings for SIA to meet with Philippine government agencies and trade groups such as the Depart-

RESIDENT Ferdinand R. Marcos Jr. called for the easing of trade restrictions imposed by some countries amid the spike in global prices of food and energy last year to foster greater global economic growth. Marcos made the appeal during opening remarks during the Country Strategy Dialogue at the World Economic Forum (WEF) in e President said such hampering the global movements

“We are mindful that while protectionist policies may be appealing, even necessary in the short term, there will ultimately be no long-term winners...We join the call for all governments to unwind any trade restrictions and reinforce our commitment to the World Trade Organization [WTO]

Last year, some countries like India, Malaysia and Indonesia implemented export bans for some agricultural products after the Ukraine-Russia confl ict caused international food and energy e supply issues caused

“ e fi rms’ concerns for being less optimistic are indeed grounded. Infl ation remains elevated across the country,” Manalo said. “ e expected upside risks stemmed from fi rst elevated food prices due to higher fertilizer costs and supply chain constraints. We continue to see that and on the domestic front.”

Manalo also said trade restrictions and weather disturbances could increase the prices of fruits and vegetables while higher sugar prices, petitions for transport fare and wage hikes this year could also increase infl ation.

She said second-round effects, if left unchecked, could set in and “turn price increases into a vicious cycle” that could increase infl ation further. Manalo said this is the

reason for BSP’s efforts to continue taming infl ation by tightening monetary policy.

However, the BSP believes this is only temporary. e central bank maintained its stance that infl ation will remain elevated only in the fi rst semester of 2023 and gradually decelerate in the second semester.

“So by quarter three, that’s the only time we’ll see infl ation revert within the 2 to 4 percent target range before settling close to the lower end of quarter four in 2023. And in the fi rst quarter of 2024,” Manalo said.

“By taming infl ation through policy rate tightening the BSP contributes to ensuring sustainable

infl ation to accelerate in many countries, including the Philippines, prompting the International Monetary Fund (IMF) to forecast global economic growth this year will slow down to 2.7 percent from 3.2 percent last year.

Marcos, however, said he is optimistic the Philippines can exceed the projected economic growth rate by the IMF thanks to the country’s “strong macroeconomic fundamentals, fi scal discipline, structural reforms and liberalization of key sectors.”

He also noted the government already implemented measures to “cushion the impact” of high infl ation to vulnerable sectors.

“We project our economy to grow by around 7.0 percent in 2023,” Marcos said.

To further ensure the country will meet its growth target, the government will provide support to businesses, particularly, micro, small and medium enterprises (MSMEs), and push for the digitalization in the government operations, as well as providing the necessary education and training to the country’s workforce.

Also part of the government’s long-term economic plan is the strengthening of public-private partnerships (PPPs) and enhancing health systems and social protection.

Samuel P. Medenilla

LinkedIn’s list: Positions needing lifelong learning most in demand

brushing up on existing ones. For job seekers, it’s vital to understand the skills in demand, which of your current skills are transferable and what new skills you need to learn,”

Earlier, in the results of the Labor Force Survey (LFS), the country’s employment rate reached 95.8 percent in November 2022, reaching 49.71 million employed Filipinos. e unemployment rate slowed to 4.2 percent with 2.18 million unemployed in November 2022.

www.businessmirror.com.ph

Global semicon players eyeing PHL industry

ment of Science and Technology (DOST), National Economic and Development Authority (Neda), Department of Information and Communications Technology (DICT), Strategic Trade Management Office (STMO), IC Design companies, and the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI).

e most in-demand jobs are Clinical Research Associate; Business Development Representatives; Insights Analyst; Delivery Specialist; Anti-Money Laundering Analyst; and Media Analyst.

e list includes Customer Success Specialist; Virtual Medical Assistant; Salesforce Consultant; Data Engineer; Security Operations Center Analyst; DevOps Engineer; Product Owner; Cloud Engineer; and Tax Associate.

“While the economy is likely to be uncertain throughout most of 2023, there are bright spots in the

labor market with macro-trends such as the rapid acceleration towards greater digitalization and jobs focused on business growth powering some of the strongest opportunities for job seekers,” LinkedIn’s Career Expert Pooja Chhabria said.

“ e Jobs on the Rise list provides professionals insight into the skills they need to prepare for emerging roles. Professionals must embrace lifelong learning to remain competitive and relevant in the fast-evolving world of work,” she added.

In order to secure jobs in 2023, LinkedIn said Filipinos workers and professionals should create a standout profi le on their platform; look for in-demand roles; and stay on top of the latest updates to get an edge in a competitive job market.

LinkedIn also advised workers to be interview-ready since employers will be looking for the best fit for their companies. Job seekers must also invest in themselves to be ready for today’s jobs.

“Online courses may bridge the gap when learning new skills or

ARMSCOR unveils RIA 5.0 at Shot Show

Tuason also said the combination of Philippine and United States factories would result in a great marriage to produce the best pos-

sible products in the next ten years like 3MM , STK variants and allied 380, among other unimportable products in the US, at best possible price. “We have great teams that can come out with multiple new products now because we

have all these factories not only in the Philippines,” Tuason said. “We will be taking over this market and be known as an international player in the rearms industry.”

Zubiri, who ew from Manila to test the RIA 5.0 during the media day at Boulder City the other day, thanked Tuason and the ARMSCOR Global Defense Inc. not only for producing the best made by Filipinos in the US but also for creating jobs and opportunities for everyone.

“I am happy to be here supporting a Filipino-owned company going abroad, going international and I’m paying back to you for providing a lot of jobs,” Zubiri said. “He is taking care of 2,200 souls in their Marikina plant in the Philippines aside from the shooting ranges he runs.” Zubiri reiterated plans to have his bill, the Philippine Defense Industry Development Act, enacted within the year to help the country’s national defense.

The Shot Show 2023 attended by a thousand exhibitors—including the country’s very own ARMSCOR Global Defense Inc.—all over the world will be at the Venetian Hotel and Caesar Palace until Friday.

e Philippine Statistics Authority (PSA) said preparations for the holidays boosted the country’s employment numbers and brought down unemployment to its lowest level in nearly two decades.

e employment and unemployment rates were the highest in 17 years or since April 2005 when the government adopted the International Labor Organization’s (ILO’s) employment defi nitions. (Full story here: www.businessmirror.com.ph/20 23/01/06/holiday-jobs-boost-phlemployment-by-49-71m-highest-in17-years-psa/).

BSP...

economic recovery and improving the standard of living for all Filipinos,” she added.

Earlier, BSP said it intends to continue raising interest rates as a precaution against the second-round e ects of in ation.

Medalla said in ation is still expected to be within target by the third quarter and will be closer to 2 percent rather than 3 percent by late 2023 or early 2024.

Based on the recent charts he reviewed, Medalla said in ation expectations are building up and that sectors that have very little inputs, such as services, have become expensive.

Medalla said raising interest rates by another 25 or 50 basis points would serve as “insurance” to keep high in ation at bay. He added that if, later on, the interest rates were not needed, the BSP could easily roll back the rates.

The BSP governor said the central bank would face more di culties if it did not raise interest rates when such was warranted. This, he said, would be more dangerous for the economy.

According to the investment promotion agency, SIA and the government agencies exchanged views on the impacts of recent US export controls, semiconductor supply chain security and resilience initiatives, as well as potential opportunities for US-Philippines semiconductor cooperation, especially in R&D and workforce development, with the allotted $500 million funding under the CHIPS Act.

Opportunities in (integrated circuit) IC design and software development in the Philippines were also discussed with the IC design private sector representatives.

For DOST’s part, Philippine Council for Industry, Energy, and Emerging Technology Research and Development Executive Director Dr. Enrico C. Paringit presented the government’s initiatives to strengthen industry capabilities. He said the agency is ready to work with its US counterparts to continue to develop the country’s capabilities and enhance the US semiconductor global supply chain.

e BOI said the local semiconductor industry, as part of the electronics industry, is a top contributor to the country’s manufacturing Gross Value Added (GVA), accounting for 7 percent of the total manufacturing GVA for fi rst quarter to third quarter of 2022, and employs over 3 million direct and indirect workers.

As of November 2022 yearto-date, cumulative electronics exports reached $45.63 billion, or 62.36 percent of the total Philippine exports, added BOI.

IMF CITES PHL GROWTH, PBBM SEES 7% FOR ’22, ’23

country...what you have done in the last year of turbulence to sustain growth...is quite commendable,” Georgieva said during the meeting.

She said the IMF is ready to continue extending support to members, including the Philippines, so they could reach their economic targets.

e Philippines joined the IMF on December 27, 1945.

“We have been really interested to engage more deeply with our members to recognize the traditional challenges...they are still there,” Georgieva said.

Marcos said the government is currently facing challenges in terms of food and energy security.

Other issues, which need to be addressed, he said, are the gaps in the country’s infrastructure requirements as well as climate change response.

‘Room

look.

“ ere is so much space, room to grow, in the sense that we are starting very many new things now,” Marcos said in an interview with Bloomberg Television’s Haslinda Amin on the sidelines of the WEF in Davos.

e economy has been “rather stable” and unemployment is continuing to decline, he said. Marcos said the domestic economy “will be able to manage at least 7-percent growth for last year” and expand by a similar pace in 2023.

Marcos has faced numerous economic challenges in his fi rst six months as the country’s leader, including tight public fi nances and rising borrowing costs. Soaring prices of essential goods from sugar to onions have driven infl ation to a 14-year high and Marcos, who is also helming the agriculture department, has said farm production will be ramped up to rein imports and prices.

to grow’

PHILIPPINE economic growth will likely hold steady at around 7 percent this year, President Ferdinand Marcos Jr. said, crediting strong fundamentals that would help the nation post the fastest expansion in Asia amid a dimmer global out-

Like most in Southeast Asia, Marcos has sought to balance interests between US and China. He has tried to cooperate with China in agriculture and infrastructure and met with President Xi Jinping earlier this month, agreeing to pursue South China Sea energy exploration talks.

Tensions between Manila and Beijing in the disputed sea have risen recently, with the Southeast Asian nation expressing “great concern” over Chinese vessels massing off its western coast. China is building up several unoccupied land features in the South China Sea, Bloomberg News reported in December.

More from Marcos:

• On taming infl ation: “ e long-term solution of course will be to increase production. at is what we are working on.”

• On US security support in the South China Sea: “ ey have already made that commitment. As a matter of fact, when there are certain reports that come in, some of the American ships come down and make their presence felt. We were hoping that we keep and maintain that at that level.”

• On exploration with China: “We may fi nd a way around that if we limit it to exploration, and hopefully, I think there’s still some give and take possible there.”

• On leading the agriculture department: “We have started to rationalize the system because the illegal imports have been a problem.” With assistance from Niluksi Koswanage/Bloomberg

AS millions of Filipinos struggle to find jobs in a tight economy, LinkedIn’s Jobs on the Rise List showed that positions in high demand are those that encourage workers to be lifelong learners.

DOJ denies Bantag’s request to transfer murder cases to Ombudsman

By Joel R. San Juan @jrsanjuan1573

THE Department of Justice (DOJ) has issued a resolution maintaining that it has jurisdiction to conduct the preliminary investigation on the murder charges filed against suspended Bureau of Corrections (BuCor) Director General Gerald Bantag and several others in connection with the killings of veteran radio commentator Percival “Percy Lapid” Mabasa and inmate Jun Villamor, the alleged middleman in the case.

I n a 17-page resolution issued by the panel of prosecutors handling the case, the DOJ held that the Ombudsman has no exclusive jurisdiction over investigation and prosecution of cases involving public officers and employees before the regular courts, contrary to the arguments raised by Bantag in his motion for inhibition filed against the panel.

Undoubtedly, the power of the Ombudsman under Section 15[1] of

RA 6770 [Ombudsman Act of 1989] is not an exclusive authority but rather a shared or concurrent authority with respect to the offense charged,” the resolution read.

“ There is no basis under the law and existing jurisprudence that would directly support the conclusion of respondent Bantag that the power of the Ombudsman with respect to the offenses charged under Section 15[1] of RA 6770 is exclusive to it,” it added.

I n fact, the resolution noted that the DOJ and the Ombudsman entered into a memorandum of agreement (MOA) on March 29, 2012 clarifying the jurisdiction in the conduct of preliminary investigation and inquest proceedings for complaints against public officers and employees.

T he MOA states: “The OMB and the prosecution offices of the DOJ shall have concurrent jurisdiction over the complaints for the crimes involving public officers and employees falling outside the exclusive jurisdiction of the San -

diganbayan; Provided, that the office where such a complaint is filed for preliminary investigation shall acquire jurisdiction over the complaint to the exclusion of the other; Provided further, that the OMB may refer/endorse any complaint filed before it to any prosecution office of the DOJ having jurisdiction over the complaint.”

In the case of Bantag, the DOJ said while he occupies a position with a pay grade higher than Salary Grade 27, the murder cases against him do fall within the exclusive jurisdiction of the Sandiganbayan.

“ Besides, the alleged felonious acts imputed by the complainants against respondent Bantag, is not in any way related, not even remotely connected, to any anti-graft offenses within the exclusive final jurisdiction of the Sandiganbayan,” the DOJ resolution read.

Bantag, through his lawyer Rocky Balisong, sought the inhibition of the DOJ prosecutors and the immediate transfer of the investigation of the murder charges before the Ombuds-

man, which he said has the primary jurisdiction over his client under Article 11, Section 13, Paragraph 1 of the Constitution.

Balisong said the said provision of the Constitution gives the Ombudsman the power to investigate all cases committed by public officials.

B antag’s camp also cited Section 15, in relation to Section 11 of RA 6770, which gives the Ombudsman the power to investigate cases falling within the jurisdiction of the Sandiganbayan.

A side from this, Balisong also accused the DOJ of being biased against his client, thus, warranting the inhibition of the DOJ prosecutors from conducting the preliminary investigation for the purpose of determining whether there is probable cause to elevate the case for trial.

Bantag’s camp cited the recent pronouncements of Justice Secretary Jesus Crispin Remulla accusing the suspended BuCor official as the one who ordered the killing of Mabasa and Villamor.

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

However, the DOJ panel stressed that Bantag’s allegation of bias and partiality against the panel is based on the wrong premise since the justice secretary does not participate in the conduct of preliminary investigation nor approves resolutions of the panel.

It noted that all resolutions in preliminary investigation cases are only approved by the Prosecutor General, Provincial Prosecutor or City Prosecutor.

Anent the alleged bias and partiality of the panel by reason of control and supervision exercised by the SOJ  [Secretary of Justice] over the NPS, the same is purely speculative, as control and supervision being exercised by the SOJ [Secretary of Justice] over the NPS [National Prosecution Service] does not extend to the conduct of preliminary investigation,” the panel said.

It added that it never made any statements that would indicate its partiality to any of the parties.

T he panel also defended the statements by Justice Secretary Jesus Crispin Remulla to the media with regard to the case, saying that such were inevitable considering that the BuCor is under the DOJ.

“Being the head of the department, the SOJ has to report and inform the public about what happened or what is happening in the department and its constituent and attached agencies, including the BuCor,” the resolution added.

T he panel directed Bantag to submit its counter-affidavits on the murder charges on January 24.

Bantag and BuCor deputy security officer Ricardo Zulueta were charged as principals by inducement in the Lapid killing.

A lso charged in the Percy Lapid killing as “principals by indispensable cooperation” were Bilibid inmates Denver Batungbakal Mayores, Alvin Cornista Labra, Aldrin Micosa Galicia and Alfie Penaredonda.

Legitimate police op: Murder ruled out in death of labor activist during ‘Bloody Sunday’ raids

THE Department of Justice (DOJ) has ruled that labor leader Emmanuel “Manny” Asuncion was killed during a legitimate police operation after he exchanged gunfire with operatives who took part in the so-called “Bloody

Sunday” raids in Calabarzon provinces on March 7, 2021.

T hus, in a 23-page resolution, the DOJ panel of prosecutors led by Senior Assistant State Prosecutor Rodan Parrocha dismissed for lack of probable cause the murder complaint filed

under Article 248 of the Revised Penal Code against 17 policemen accused of summarily executing Asuncion.

T he DOJ ruled that the evidence and circumstances presented during the preliminary investigation of the case contradicted the claim of com-

plainant Liezel, wife of Asuncion, that the police officers intentionally killed her husband in the guise of a police operation.   To reiterate, the service of the search warrant was a legitimate operation that turned sour when Emman-

uel Asuncion resisted the authorities. Granting arguendo that some or any of the respondents shot Emmanuel Asuncion, however, it would appear that such incident occurred pursuant to the lawful fulfillment of their duty,” the resolution read.

We lament the demise of Emmanuel Asuncion. However, complainant and the evidence she submitted failed to discharge the obligation to prove the existence of a crime and identify the perpetrators thereof,” it added.

Joel R. San Juan

• Editor: Vittorio V. Vitug

BusinessMirror

Basic goods makers seek price hike okay with DTI

By Andrea E. San Juan

MANUFACTURERS of canned sardines, canned meat, instant noodles, and bread, among others, have requested price increases for their products, the Department of Trade and Industry (DTI) said.

DT I-Consumer Protection Group (CPG) Undersecretary Ruth B. Castelo bared during a televised interview that makers of canned sardines, processed milk, coffee, instant noodles, bread, candles and detergent soap are those who have requested for a price

increase for their products under the basic necessities category.

F or the prime commodities, Castelo said there are pending requests for canned meat, bath soap and some condiments.

A ccording to the trade official, among the factors that could lead to the adjustment of prices are the prices of raw materials that manufacturers are using, majority of which are being imported. Another factor that could be causing the price changes, Castelo said, is the logistics cost since fuel is consumed for the distribution of goods.

Further, she said, packaging materials could also have a hand in the adjustment of prices of goods as majority of these are also being imported by manufacturers. Castelo said these factors contribute to the increase of the manufacturer’s cost of production that may prompt them to request for price increases.

C astelo said the DTI initially planned to release an updated suggested retail price (SRP) bulletin within the month of January because the pending requests have piled up.

However, she said partly in Fili -

pino, “We’re not yet done and we’re still studying carefully when to release it [SRP bulletin]. At ‘yung figures meron pa naman kaming natitirang validation dahil ang requests panay ang dating sa amin.”

“So we are just trying to finish important figures para masigurado natin ‘yung computation. So wala pa tayong date kung kelan lalabas,” Castelo added.

Meanwhile, with the recent uptick in local retail egg prices, Castelo assured the prices of bread may unlikely be affected since egg is not a key ingredient in the particular

brands being monitored by DTI.

T he DTI only monitors Pinoy Tasty and Pinoy Pandesal brands of bread. Castelo said the price increase requests from the manufacturers of this specific brand could be attributed to the increase in the price of flour last year.

“ Hindi po siya apektado ng presyo ng itlog dahil wala po itong ingredient na itlog. ‘Yung itlog ginagamit sa mga medyo premium bread na kagaya ng ensaymada o cheese roll at iba pang premium bread,” Castelo said.

T he trade official also said that DTI has ongoing talks with the De-

partment of Agriculture (DA) regarding the prices of onion and eggs. She said the two agencies have been tackling recommendations to the government but noted that “these are just measures to address the issues pero ire-recommend pa po natin sa DTI secretary and DA and of course the President.”

Earlier this month, the agriculture department approved the importation of 21,060 metric tons of fresh yellow and red onions to temper the commodity’s retail prices, which have skyrocketed to more than P700 per kilogram in recent weeks.

Fish kill damage in Lake Sebu reaches ₧12 million–BFAR

By Jasper Emmanuel Y. Arcalas @jearcalas

THE estimated damage caused by the fish kill in Lake Sebu has reached P12 mil-

lion, a phenomenon which a fishery official explained, could have been caused by the decrease in the level of oxygen in the body of water.

Bureau of Fisheries and Aquatic Resources

(BFAR) spokesperson Nazario Briguera confirmed on Wednesday that there has been a fish kill in Lake Sebu in South Cotabato affecting fish cages in the area.

The fish kill was caused by the reduction

in dissolved oxygen level in the lake. And this could be a result of the changing weather,” Briguera said in a public media briefing.

The other cause of the fish kill is the increase in pollution level. But if we can recall, there was also a fish kill in Lake Sebu last year because of the fluctuation in dissolved oxygen level,” he added.

Briguera disclosed that one of the recommendations of BFAR is to regulate the number of fish cages in Lake Sebu to prevent overcrowding of fish.

“Since one of the possible reasons for fish kill is pollution, there could have been a lot of unconsumed feed in the area. It is also possible that there was a blockage in the flow of water that affected the circulation of water

in the area,” he said.

Briguera said BFAR urged the local government unit involved in Lake Sebu to “seriously” implement the regulation of fish cages. Based on existing laws, Briguera explained that only 10 percent of a lake could be used in order to consider it as a sustainable fish practice.

“If we are not mistaken, at present, about 23 percent of Lake Sebu is now used for fish farming and this is not beneficial to the lake. That is why one of our interventions is the promotion of good aquaculture practices in the area,” he said.

Briguera pointed out that good aquaculture practices allow fish farmers to raise their productivity while making fish production sustainable.

Groups flag appointment of Abu Dhabi oil boss Al Jaber to lead climate talks

By Lenie Lectura @llectura

THE ultimate goal of COP28, or the 28th session of the Conference of Parties, could be stalled after the chief of state-owned Abu Dhabi National Oil Company (ADNOC) has been selected to lead this year’s UN brokeredclimate talks scheduled in the latter part of the year.

According to the Manila-based think tank Institute for Climate and Sustainable Cities (ICSC), the representation of the COP presidency by a leader of the global petroleum industry is “clearly problematic,” ICSC Deputy Executive Director Angelo Kairos dela Cruz said via email.

Sultan Al Jaber, head of the world’s twelfth-largest oil company by production, will be responsible as the COP28 President for holding governments and the fossil fuel industry accountable to global climate goals to limit warming to 1.5°C, which entails, according to the International Energy Agency (IEA), an immediate end to all new oil and gas extraction projects.

“ There can be no doubt the intention is to stymie progress in the talks to make fossil industry companies accountable to the global public,” dela Cruz added.

W hile the group recognized that it is the right and privilege of the UAE—as the host country to appoint the COP28 leadership—“the ultimate barometer is how closely the Dubai round of talks will be measured to its adherence to implementing and advancing the Paris Agreement.”

With this, ICSC intends to closely engage the UAE leadership of COP28 to make

sure it tackles “the increasingly serious diplomatic challenge of addressing climate change now and for the long term.”

“And as with previous COPs, it is just as vital to remind everyone concerned that decisive, strategic climate action—or the lack thereof—is the responsibility of all stakeholders who see the climate crisis as the most critical challenge humanity has ever faced.

“It’s not just the UAE leadership that bears this weight. We need to make sure our respective governments and institutions deliver what the youth of today expect,” added dela Cruz.

Separately, Global Policy manager at Oil Change International (OCI) Romain Ioualalen commented that the appointment risks further undermining the credibility of global climate talks and threatens the action and leadership needed for a rapid and equitable phase out of all fossil fuels.

“ This is a truly breathtaking conflict of interest and is tantamount to putting the head of a tobacco company in charge of negotiating an anti-smoking treaty... The reality is that the climate talks will be run by the CEO of a company betting on climate failure. These are the worst possible credentials for an upcoming COP President,” said Ioualalen.

Based on OCI’s recent research, the UAE is poised to become the third largest expander of oil and gas production between 2023 and 2025. ADNOC’s new oil and gas production over the next three years would lock in over 2.7 Gt of CO2 emissions, which is equivalent to one year of the European Union’s CO2 emissions from fossil fuels.

By Jovee Marie N. Dela Cruz  @joveemarie

ADEPUTY minority leader on Wednesday called on the Department of Justice (DOJ) to direct the National Bureau of Investigation to go against manipulators of farm prices and supplies.

Bagong Henerasyon Party-list Rep. Bernadette Herrera, in a news release, asked these government agencies to build solid cases, fool-proofed against technicalities and excuses and send the economic saboteurs to jail because they have inflicted great suffering on millions of Filipinos and have adversely impacted the economy.

“ I appeal to the Department of Justice

to task the National Bureau of Investigation and a panel of DOJ prosecutors to go after the economic saboteurs who manipulate the prices and supply of any farm produce,” she said.

We have to go beyond raids on warehouses. We need paper trails, electronic trails, protected witnesses and convictions,” Herrera added.

T he lawmaker said the country needs tough administrative penalties and stiff fines to at least temporarily shut them down while their cases are pending.

“ Some of these heartless saboteurs would try to blame external factors, that other countries are also experiencing the same problems. They would even blame the pandemic,” she said.

Kyiv chopper crash kills 18, top Ukraine officials dead

By Andrew Meldrum The Associated Press

KYIV, Ukraine—A helicopter crash in a Kyiv suburb Wednesday killed 18 people, including Ukraine’s interior minister and three children, Ukrainian authorities said.

There was no immediate word on whether the crash was an accident or a result of the war with Russia. No fighting has been reported recently in the Kyiv area.

Interior Minister Denys Monastyrskyi, his deputy Yevhen Yenin and State Secretary of the Ministry of Internal Affairs Yurii Lubkovych were among those killed, according to Ihor Klymenko, chief of Ukraine’s National Police.

Monastyrskyi, who was in

charge of the Ukrainian police and other emergency services, is the most senior Ukrainian official to have died since the start of the war with Russia almost 11 months ago.

Nine of those killed were aboard the emergency services helicopter that crashed in Brovary, an eastern suburb of the Ukrainian capital, Klymenko said.

Kyiv Regional Governor Oleksii Kuleba said three children were also killed. Earlier, officials and

media reports said the helicopter crashed near a kindergarten.

A total of 29 people were injured, including 15 children, the regional governor said.

“For now, we are considering all possible versions of the helicopter crash accident,” Ukraine’s prosecu -

tor general, Andriy Kostin, said on Telegram.

The investigation is being carried out by the Security Service of Ukraine, he said.

Ukraine first lady, Olena Zelenska, daubed teary eyes and pinched her nose in emotion minutes before attending a World Economic Forum session in Davos, Switzerland.

“Another very sad day today— new losses,” she said.

Forum President Borge Brende requested 15 seconds of silence after opening the session to honor the Ukrainian officials killed in the crash.

The crash came just four days after a Russian missile strike on an apartment building in southeastern Ukraine killed 45 civilians, including six children—the deadliest attack on civilians since the spring.

“Haven’t had time to recover from one tragedy, there is already another one,” said the deputy head of the Ukrainian presidential office Kyrylo Tymoshenko.

EU outlines plan for clean tech future boosted by subsidies

By Raf Casert The Associated Press

BRUSSELS—The European Union pushed forward on Tuesday with a major clean tech industrial plan, which not only should keep the continent in the vanguard of plotting a greener future but also guarantee its economic survival as it faces challenges from China and the United States.

European Commission President Ursula von der Leyen presented the outlines for her “Green Deal Industrial Plan” that will make it much easier to push through subsidies for green industries and pool EU-wide projects that are boosted with major funding as the EU pursues the goal of being climate neutral by 2050.

“We know that we have a small window to invest in clean tech and innovation to gain leadership before the fossil fuel economy becomes obsolete,” von der Leyen said.

At the same time in Germany, climate protests resumed Tuesday over the destruction of a small village to allow expansion of a coal

mine, as the country strives to boost its energy security amid the cut in Russian gas supply.

Von der Leyen used a speech at the World Economic Forum in Davos to say that on top of feeding its own industry, the 27-nation bloc will become much more forceful in countering unfair trading practices, if they come from Washington, or more importantly, Beijing.

“We see aggressive attempts to attract our industrial capacities away to China and elsewhere,” she said.

And as it is trying to wean itself of an overdependence on Russia energy since the war in Ukraine started almost a year ago, the EU doesn’t want to become as dependent on China for rare earth materials, which are critical to the development of battery storage, hydrogen and wind energy.

“We have a compelling need to make this net-zero transition without creating new dependencies,” von der Leyen said.

Even if the EU has gripes with both Washington and Beijing about being squeezed out of their markets, von der Leyen came down much harder on China in her speech, underscoring she

still has hopes of making amends with the Biden administration— with which the EU sorely needs to stand shoulder to shoulder in opposing Russia.

In Brussels too, where EU Trade Commissioner Valdis Dombrovskis had talks with his US counterpart Catherine Tai, both went out of their way to play down the EU’s complaints about the $369 billion US Inflation Reduction Act.

“Going our own way is neither efficient nor desirable. Instead, we should create economies of scale across the Atlantic and set common standards,” Dombrovskis said.

Von der Leyen’s plan will now become the key driver for debate among the EU’s member nations before their 27 leaders meet for a February 9-10 summit on the issue. Before such a plan becomes reality, the EU needs to find a balance on the ability of economic juggernauts like Germany and France to splurge state aid and, on the other side, grant funds to small member states, which have no such firepower.

No specific figures were mentioned, but going on what the United States is putting in its US

Inflation Reduction Act and how the EU already waved through 672 billion euros ($727.5 billion) in aid to allow member states to deal with the impact of the war in Ukraine, any EU commitment will be massive.

Many EU leaders saw the US act as an attempt to cut European firms out of the lucrative American market for clean energy technology like electric vehicles and excessively favors a “made-in-America” approach that discriminates against European multinationals.

In a letter to EU member states, European Commission Vice President Margrethe Vestager wrote last week that the US plan “risks luring some of our EU businesses into moving investments to the US.”

It underscores a continuing unease in the EU that it will become irrelevant in the economy of the future, as it is squeezed by the US and China.

“As a union, we are not living up to our full economic potential. Our productivity lags behind and fewer and fewer of the biggest firms on the planet are EUbased,” Swedish Prime Minister Ulf Kristersson said.

Criticized for major scandals, Vietnamese president resigns

By Grant Peck The Associated Press

BANGKOK—Vietnamese President Nguyen Xuan Phuc resigned Tuesday, becoming the most senior member of the government to step down after a series of high-profile corruption scandals for which he was held responsible.

The state Vietnam News Agency reported that he had resigned at a session of the ruling Communist Party’s Central Committee that was held “to consider and give opinions on Comrade Nguyen Xuan Phuc’s wish to stop holding positions, quit work and retire.”

The language of the announcement strongly suggested that he was forced to step down.

Phuc, 68, began serving in government at the provincial level in 1979 and took his first position in national government in 2006. He joined the Politburo, the highest-

ranking party body, in 2011, and was prime minister from 2016 to 2021, when he was elected president by the National Assembly.

The post of president in Vietnam is largely ceremonial. The most powerful position, Communist Party general secretary, is currently held by Nguyen Phu Trong, who in 2021 won a rare third five-year term in office. His hallmark has been a longrunning anti-corruption campaign, which in his second term targeted two former Cabinet ministers and Hanoi’s former mayor.

An official statement published in state media praised Phuc for his efforts as prime minister in battling the Covid-19 pandemic.

It added, however, that he bore political responsibility as the country’s top executive for serious scandals involving his subordinates, including two deputy prime ministers and three other ministers. The statement noted

that the two deputy prime ministers had resigned from their positions and criminal proceedings had been launched against two other ministers and many other officials. Several of the scandals

involved corruption related to pandemic control measures.

The positions from which Phuc resigned also included Politburo membership, the executive committee of the Central Committee and chairman of the National Defense and Security Council.

As prime minister, Phuc led Vietnam as it became further integrated in the global economy and sustained 7 percent economic growth until Covid-19 hit the world.

With strict measures including a nationwide lockdown, Vietnam managed to contain the spread of the virus in the first year of the pandemic and quickly resumed business and manufacturing. It was among a handful of countries in 2020 that recorded positive economic growth.

However, as in several other Asian nations that initially staved off serious outbreaks, cases shot up after mid-2021 with the spread of more highly transmissible variants.

By Fatima Hussein The Associated Press

ease tension

ZURICH—US Treasury Secretary Janet Yellen sits down with her Chinese counterpart Wednesday in the highest-ranking contact between the two countries since their presidents agreed to look for ways to improve relations that have grown increasingly strained in recent years.

Yellen’s first face-to-face meeting with Vice Premier Liu He comes as the US and Chinese economies grapple with differing but intertwined challenges on trade, technology and more.

The Chinese economy is reopening after a Covid-19 resurgence killed tens of thousands of people and shuttered countless businesses. The US is slowly recovering from 40-year high price inflation and is on track to hit its statutory debt ceiling, setting up an expected political showdown between congressional Democrats and Republicans. The debt issue is of keen interest to Asia, as China is the second-largest holder of US debt.

There is also the Russian invasion of Ukraine, which continues to hinder global economic growth—and has prompted the US and its allies to agree on an oil price cap on Russia in retaliation, putting China in a difficult spot as a friend and economic ally of Russia.

And high interest rates globally have increased pressure on debt-burdened nations that owe great sums to China.

“A wrong policy move or a reversal in the positive data and we could see the global economy head into a recession in 2023,” said Josh Lipsky, senior director of the Atlantic Council’s GeoEconomics Center. “Both countries have a shared interest in avoiding that scenario.”

The World Bank reported last week that the global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies—including the US and China. Low-income countries are expected to suffer from any economic downturns of superpowers, the report said.

“High on the list is debt restructuring,” Lipsky said of Wednesday’s talks. Several low-income countries are at risk of debt default in 2023 and many of them owe large sums to China.

“Leaders have been trying for two years to get some agreement and avoid a wave of defaults but there’s been little success and one reason is China’s hesitancy. I expect Yellen to press Liu He on this in the meeting,” Lipsky said.

Liu laid out an optimistic vision for the world’s second-largest economy in an address Tuesday at the World Economic Forum in Davos, Switzerland.

“If we work hard enough, we are confident that in 2023, China’s growth will most likely return to its normal trend. The Chinese economy will see a significant improvement,” he said.

After her stop in Switzerland, Yellen will travel to Zambia, Senegal and South Africa this week in what will be the first in a string of visits by Biden administration officials to sub-Saharan Africa during the year.

Zambia is renegotiating its nearly $6 billion debt with China, its biggest creditor. During a closed-door meeting at the Africa Leaders Summit in Washington in December, Yellen and Zambian President Hakainde Hichilema discussed “the need to address debt sustainability and the imperative to conclude a debt treatment for Zambia,” according to Yellen.

The Zurich talks are a follow-up to the November meeting between President Joe Biden and China’s Xi Jinping on the sidelines of the Group of 20 summit in Bali, Indonesia. The two world leaders agreed to empower key senior officials to work on areas of potential cooperation, including tackling climate change and maintaining global financial, health and food stability. Beijing had cut off such contacts with the US in protest of then-House Speaker Nancy Pelosi’s trip to Taiwan in August.

“We’re going to compete vigorously. But I’m not looking for conflict,” Biden said at the time.

US Secretary of State Antony Blinken will be traveling to China in early February.

Among economic sticking points, the Biden administration blocked the sale of advanced computer chips to China and is considering a ban on investment in some Chinese tech companies, possibly undermining a key economic goal that Xi set for his country. Statements by the Democratic president that the US would defend Taiwan against a Chinese invasion also have increased tensions.

And while the US Congress is divided on many issues, members of the House agreed last week to further scrutinize Chinese investments.

New House Speaker Kevin McCarthy of California has identified the Communist Party of China as one of two “long-term challenges” for the House, along with the national debt.

“There is bipartisan consensus that the era of trusting Communist China is over,” McCarthy said from the House floor last week when the House voted 365 to 65—with 146 Democrats joining Republicans—to establish the House Select Committee on China.

Last year, the US Commerce Department added dozens of Chinese high-tech companies, including makers of aviation equipment, chemicals and computer chips, to an export controls blacklist, citing concerns over national security, US interests and human rights. That move prompted the Chinese to file a lawsuit with the World Trade Organization.

Yellen has been critical of China’s trade practices and its relationship with Russia, as the two countries have deepened their economic ties since the start of the war in Ukraine.

On a July call with Liu, Yellen talked “frankly” about the impact of the Russia’s invasion of Ukraine on the global economy and “unfair, non-market” economic practices, according to a US recap of the call.

TREASURY Secretary Janet Yellen speaks at the Treasury Department in Washington on January 10, 2023. Yellen will meet with her Chinese counterpart Vice Premier Liu He in Switzerland on January 18, 2023 to discuss economic developments between the two nations. AP/CAROLYN KASTER

US-China officials slated to meet on economy, aim to

VIETNAM’S President Nguyen Xuan Phuc arrives at the Apec Economic Leaders Meeting during the Asia-Pacific Economic Cooperation, also known as Apec summit, on November 19, 2022 in Bangkok, Thailand. Nguyen Xuan Phuc resigned Tuesday, January 17, 2023, the most senior member of the communist state’s government to be forced from his job after a series of highprofile corruption scandals for which he was held responsible. JACK TAYLOR/POOL PHOTO VIA AP

UKRAINIAN Interior Minister Denys Monastyrskyi speaks during an interview with The Associated Press in Kyiv, Ukraine, on March 18, 2022. The chief of Ukraine’s National Police on Wednesday, January 18, 2023, says a helicopter crash in a Kyiv suburb has killed 16 people, including Ukraine’s interior minister and two children. He said nine of those killed were aboard the emergency services helicopter.

AP/EFREM LUKATSKY

Agriculture/Commodities

PHL keen on importing 450,000 MT of sugar

By Jasper Emmanuel Y. Arcalas @jearcalas

THE Philippines is mulling over importing as much as 450,000 metric tons (MT) of raw and refined sugar to further beef up its supply and temper retail prices.

Sugar Regulatory Administration (SRA) board member Pablo Azcona, who represents the sugarcane planters, said Wednesday the Palace has recommended the importation of 400,000 MT to 450,000 MT of sugar to ensure that the country will have a two-month buffer stock.

A zcona said the proposed importation program is still being finalized and that the SRA board is drafting its guidelines, which will be subjected to a consultation with stakeholders.

No less than President Marcos Jr. revealed the national government’s plan to maintain a twomonth sugar buffer stock to manage price fluctuations.

Part of the import guidelines is the schedule of arrival and the specific markets that will be allowed to use the imported stocks.

“ The proposed import volume will not all arrive at the same time. We are at the peak of the milling season and part of the SRA’s job is to determine how much volume will be introduced to the local market and when,” Azcona told reporters in an interview.

Talks on a new sugar import program started in December as the SRA has been monitoring the country’s sugar supply and price situation.

“It was a joint recommendation [between the SRA and the Palace],” he said.

The instruction of the [Department of Agriculture], maybe from Malacañang as well, is that they want the volume of sugar to arrive as soon as we can. Maybe in the first quarter or April, depending on shipping delays.”

Azcona said the bulk of the imported sugar would be refined while part of the volume would constitute raw sugar since some refiners have requested to be allowed to import raw stocks.

“ There are recommendations to import from the refiners group. They are requesting to import but for arrival later this year. A little bit of

Solons push for reforms to make salt industry

By Butch Fernandez @butchfBM

SENATE Majority Leader Joel Villanueva deplored the diminishing local salt industry even as the Philippines is known to have “the longest shorelines in the world that is conducive for salt production.”

A ddressing the issue at the hybrid hearing of the Senate Committee on Agriculture, Food and Agrarian Reform Wednesday, the lawmaker lamented that the Philippines’s salt industry is being “dwarfed by the salt production of neighboring countries with much smaller shorelines.”

“Unfortunately, we have not made full use of the resources that we have and the salt industry has consistently been in decline.”

A dmitting that “it baffles me that the Philippines, an agricultural country with shorelines that stretches for thousands of kilometers, would import 93 percent of our total salt requirements,” the senator added that “this is very disheartening.”

S till, the Senate Majority Leader said he is banking on his fellow senators as the committee leader expressed the hope that the committee will pass his bill, Senate Bill No. 1450, otherwise known as the Salt Industry Development sooner.

During the public hearing Sen. Nancy Binay said she is in favor of implementing the necessary reforms

like reducing restrictions on producing other forms of food-grade and industrial salt, and not just iodized

salt as required by Republic Act 8172 to increase overall production in the salt industry.

Binay also suggested that salt businesses and cooperatives should be linked with the Philippine Coconut Authority to encourage coconut farmers to buy locally-produced salt for their fertilizer needs.

Wanted: Agri info system

AT the same time, Sen. Sherwin Gatchalian pressed for an agriculture information system (AIS) to “prevent the manipulation of food prices in the market.”

Gatchalian said the AIS will deter price manipulation of food prices, such as in the case of onion, which has recently seen record levels.

T he senator suggested that “an agriculture information system could prevent any artificial shortages that hoarders may possibly take advantage of for profiteering purposes.”

His Senate Bill No. 1374 or the Agriculture Information System Act, which he filed last year, seeks to establish an AIS which will serve as an online computer database where information on the demand for specific agricultural and fisheries commodities is gathered and uploaded simultaneously with the production data from farmers in every barangay.

“ Lumalabas na hindi natutukan

nang maigi ng Department of Agriculture ang suplay at demand ng sibuyas at umaasa lang sila sa datos na nilalabas ng Philippine Statistics Authority. Dapat may regular na stock balance at price monitoring na isinasagawa ang DA sa lahat ng produktong pang-agrikultura na makakatulong sa polisiya at tamang tyempo kung kailan mag-aangkat ng mga ito,” Gatchalian said, in observation of the result of the recent hearing of the Senate Committee on Agriculture.

“Kung alam nila kung nasaan ang supply, doon na sila kukuha para sa Kadiwa Centers para maiwasang mabulok ang mga produktong pangagrikultura at para malaman nila kung saan magbibigay ng suporta para mapalakas ang produksyon.”

G atchalian said once Senate Bill 1374 is enacted into law, “the system is expected not only to improve the productivity of farmers but ensure the adequacy of food supply in retail centers.”

A ccording to the senator, the creation of AIS would also prevent unwarranted importation of farm products that could unduly impact the competitiveness of local farmers.

He said the AIS will merge and synchronize agricultural data from different sources into a cohesive database designed to facilitate linkages from the farm to the intended consumers, including global markets.

of the sweetener.

This importation program is normal. Every year, for the last 30 years, we usually import after our sugarcane harvest. There is always a shortfall that is needed to be filled until the next harvest, which is usually from June to October. That is the vacuum for our local production.”

A zcona noted that the proposed import program is intended for consumers and industrial users. He said the SRA is still awaiting instructions regarding the intended market of the imported sugar.

So far, what we are hearing is that the importation will be open to everybody. The industrials will not have specific volumes. They can apply or course it through the traders,” he said.

A zcona said the estimated landed cost of imported sugar ranges from P70 to P80 per kilogram.

Despite the SRA’s previous import program, of which half of the 150,000 MT was allocated for the retail market, it failed to make a dent in the prevailing prices of refined sugar, which remained above P100 per kg.

By Jonathan L. Mayuga @jonlmayuga

THE Department of Agrarian Reform (DAR) announced on Wednesday the distribution of electronic land titles (E-TITLES) and certificates of land ownership award (CLOAs) to 100 agrarian reform beneficiaries from Lanao del Norte.

T he distribution of the land titles is expected to boost the government’s anti-poverty effort and to emancipate the farmers from the bondage of soil in the province of Lanao del Norte.

Marie Vil M. Codilla, Provincial Agrarian Reform Program Officer II, said out of the 100 ARBs, 11 received e-titles covering a total of 29.9002 hectares under Project Support to Parcelization of Land Titles (SPLIT).

T he rest of the 89 ARBs received regular CLOAs covering 46.7679 hectares in barangay San Roque and 69.4880 hectares in barangay Bubong.

Land distribution is only an initial step of the DAR’s intervention. The department will continue to provide support services and free legal assistance to develop your farming systems and product enterprise, and strengthen your ARB organizations,” said Codilla.

of last year.

TO provide additional source of income to 25 Higaunon farmers and their families in Sitio Impahanong, the Department of Science and Technology (DOST) realizes a citronella facility in the area.

I n partnership with the local government unit, the farmers are expected to earn additional income during the full operation of the facility in November this year.

Currently, the farmers own and manage a ten-hectare citronella plantation. The newly installed Citronella Oil Processing through Hydrosteam Distillation will be an alternative upland Livelihood for the members of Agtimaloy Farmers Association Inc. (AFAI).

T his intervention comes with equipment, user-guide training, product development, business, and organizational management, and marketmatching opportunities.

THE most severe power cuts ever experienced in South Africa are threatening food and water supplies and disrupting the lives of millions of people, including chicken farmers.

I n the poultry industry, electricity outages have forced factories to pause round-the-clock operations for as long as half a day at a time.

As a result, over 10 million birds designated for slaughter are still alive and consuming feed, creating a backlog that companies fear they won’t be able to fix.

We actually have enough chickens on farms around the country, but we can’t supply the market because we can’t slaughter the chickens,” Izaak Breitenbach, CEO of the South African Poultry Association, said in an interview. As a stopgap measure, producers have begun using generators, which cost the industry about 75 rand cents ($0.0439) above the normal price of production per kilogram of chicken.

I n response to these pressures, KFC temporarily shuttered some of the 750 fried chicken restaurants it operates in the country at the end

C hicken is one of the most affordable sources of animal protein in South Africa, and as the country battles a cost-of-living crisis—the central bank’s 2023 forecast for food price inflation was recently raised to 6.2 percent—a sharp price increase could render it beyond many people’s means. Last year, producers raised poultry prices 17 percent.

T his is just one example of how the energy crisis is roiling the continent’s most industrialized economy.

Agriculture suffers

OVER the last 15 years, Eskom Holdings SOC Ltd., which provides 90 percent of all of South Africa’s electricity, has kept its grid from collapse by cutting power when it has been unable to meet demand.

Known locally as “loadshedding,” these planned blackouts mainly affected mining operations and heavy industry until last year, when they became much more widespread. As the utility has struggled under a leadership crisis, its assets have deteriorated from age, lack of main-

tenance and even vandalism, all of which pushed outages to record levels in 2022.

I f outages continue at those levels, said Chris Hattingh, Head of Policy Analysis at the Centre for Risk Analysis, South Africa’s GDP growth this year will likely be capped at 1.5 percent.

T he blackouts have created problems at every step of the agricultural production chain, affecting crop irrigation, processing and storage. Stores have also taken costly measures to keep produce from spoiling on shelves.

Some of the country’s biggest food retailers, Shoprite Holdings Ltd and Woolworths Holdings Ltd, have increased investment in standby generators, rooftop solar panels and refrigerated trailer trucks. But smaller businesses haven’t had opportunities to adapt. The Sowetan, a local newspaper, addressed a cover story to President Cyril Ramaphosa that listed dozens of small companies “crippled by every failed promise to fix Eskom.”

A mong those affected are farmers in the Northern Cape province,

who are already suffering under massive heat waves that have seen temperatures in some areas edge toward 117 degrees. Without energy, they can’t irrigate their crops, which include thirsty citrus trees.

If you don’t have enough electricity, you don’t have enough water,” said Nicol Jansen, president of Agri Northern Cape, adding that cash crops such as soybeans are also vulnerable. “We urgently need more electricity in the irrigation areas.”

Dirty beaches

OTHER sectors have also been affected. For months, municipal and provincial authorities and utilities have urged consumers to cut back on water usage, as a lack of electricity can prevent stations that pump water through pipes from operating at full capacity.

I n Cape Town, at the height of holiday tourism season, public warnings were issued to avoid sections of beach that had been closed due to sewage spills after wastewater pumps broke down.

To avoid these kinds of situations, the city initiated plans last year

to procure renewable energy from independent producers.

“ The most profound effect is major stress on all of our infrastructure,” Geordin Hill-Lewis, Cape Town’s mayor and a member of the opposition Democratic Alliance, said of the outages.

Stopgap solution

AS South Africa’s government has been delayed in its efforts to increase the amount of electricity it buys from private suppliers, dieselpowered generators remain the last line of defense against electricity shortages. Yet Eskom has repeatedly run down diesel supplies and exhausted its budget to buy more.

T he cost has been significant.

Shoprite, for example, is currently spending an extra 100 million rand per month on diesel to keep the lights on in its stores.

Hattingh, the risk analyst, is worried that the current situation is not sustainable. With the vast majority of South Africans struggling with higher costs, the “average feeling is things are teetering on the precipice.”

raw sugar so that they can start their refineries early,” he said.

Despite the recommendation to import sugar, Azcona said he still does not believe that the country is suffering from a “physical shortage”

BLOOMBERG NEWS

editorial

Political will to help poor Pinoys needed

For more than five decades now, the World Economic Forum (WEF) has been bringing together leaders from governments, businesses and civil society every year to debate ideas, share best practices and collaborate on solutions to the world’s pressing problems. Cancelled at the height of the pandemic, the meeting resumes this year in Davos, Switzerland from January 16 to 20 on the theme, “Cooperation in a Fragmented World.” About 600 CEos and more than 50 heads of state, including President Marcos, are expected to attend.

The slowdown in the global economy will be a major theme at Davos. IMF Managing Director Kristalina Georgieva earlier warned that 2023 will be tougher than last year, while 63 percent of the chief economists that WEF surveyed said 2023 will see a global recession.

A new Oxfam International study—“Survival of the Richest”—published on the WEF opening day revealed that the world’s richest one percent grabbed nearly two-thirds of all new wealth worth $42 trillion created globally since 2020. This is almost twice as much money as the bottom 99 percent of the world’s population has. The report said that while the world’s elites are gathering at a Swiss ski resort, extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years. (Read, “As the rich meet in Davos, report flags inequality,” in the BusinessMirror, January 17, 2023).

In the Philippines, the poor can hardly recover from back-to-back crises as many of them continue to suffer from the effects of the pandemic and skyrocketing prices. “Inequality experienced in the Philippines is starker with the nine richest Filipinos having more wealth than the bottom half (55 million) of the population,” Oxfam Pilipinas Executive Director Erika Geronimo said.

Geronimo cited Forbes’ Billionaires List and official data analyzed by Oxfam. Since 2012, the number of those worth $5 million (P278.24 million) and above has increased by almost half (43.5 percent). “It is quite disheartening to see many are dying due to lack of health care or are experiencing hunger amid high cost of food while the rich increased their wealth during the pandemic,” she said.

Geronimo pointed out that if a wealth tax were imposed on Filipino millionaires, the country could raise $3.8 billion (P208.3 billion) a year. “This amount is enough to increase our health budget by two-fifths.”

“While ordinary people are making daily sacrifices on essentials like food, the super-rich have outdone even their wildest dreams. Just two years in, this decade is shaping up to be the best yet for billionaires—a roaring 2020s boom for the world’s richest,” said Gabriela Bucher, Executive Director of Oxfam International.

According to Oxfam, billionaires have seen extraordinary increases in their wealth. Billionaire wealth surged in 2022 with rapidly rising food and energy profits. The report shows that 95 food and energy corporations have more than doubled their profits in 2022. They made $306 billion in windfall profits, and paid out $257 billion (84 percent) of that to rich shareholders.

Oxfam urged governments to introduce one-off solidarity wealth taxes and windfall taxes to end crisis profiteering. “Taxing the super-rich is the strategic precondition to reducing inequality and resuscitating democracy. We need to do this for innovation; for stronger public services; for happier and healthier societies. And to tackle the climate crisis, by investing in the solutions that counter the insane emissions of the very richest,” said Bucher.

Portugal recently blazed a trail by introducing its own version of windfall tax. With inflation at near three-decade high, Portugal’s parliament approved a 33 percent tax on the windfall profits of energy companies and major food retailers, including supermarket chains. The new tax took effect on January 1, and is applied to profits that are at least 20 percent higher than the average of the previous four years. Taxes raised will go to the government’s welfare programs.

There’s a common observation around the world that food companies passing their costs onto consumers drove price increases. That’s how they generated windfall profits. Something must be done to end all kinds of crisis profiteering. It would do well for the Philippines to follow Portugal’s example. We should have our own windfall tax. Or, we can follow Oxfam’s advice to tax the super-rich. We can’t wait for the brilliant ideas from the elite gathering of political leaders and business executives in Davos to reach our shores. The government can do a lot of things to help poor Filipinos now, knowing they are so vulnerable to food inflation. But it takes political will to get these good things done.

2023: 346 days to go

OUTSIDE THE BOX

ThE Miss Universe pageant—the term first used by the International Pageant of Pulchritude in 1926—was to showcase the beauty and talents of women. Competitions based on physical appearance were held in ancient Greece with “Euandria,” a “contest of physique” for men only.

The festival of Callisteia was held by the women of Lesbos in the sanctuary of Hera, and the most attractive received the “Prize of Beauty.”

“Miss Universe” was designed as a competition among women, those humans born with the anatomical structure to give birth through a “birth canal” or vagina. However, the definition of “woman” has been altered to include a human who through creative surgery has an “artificial” vagina.

I do not have any concern or even give a thought as to how an individual gains sexual pleasure as long as it is between consenting adults (capable of making informed decisions) preferably of the same species. Likewise, I care nothing about how people describe or call themselves. Describing a ham-andcheese sandwich, the baker says the bread is the most important component, the meatpacker highlights the ham, and the dairy farmer knows the cheese is what makes the sand-

wich good. So what.

But when definitions change arbitrarily against previously accepted norms, problems can arise. China claims virtually all the South China Sea, almost even areas where the waves lap on another nation’s dirt, by virtue of a Chinese ship’s captain having explored the region as early as the 2nd century AD and “the first to have discovered, named, explored, and exploited the SCS and its islands.”

The problem arises with the question—can a culture rather than a nation-state establish sovereignty over territory? Does a manufactured vagina have the same “legal” standing as a natural vagina?

Sir Alec Issigonis, British automotive designer of the Morris Minor and Austin Mini, said: “A camel is a horse designed by a committee.” The proposed Philippine sovereign wealth fund appears to have been birthed the same way. A more sensible solution might have been a

Sir Alec Issigonis, British automotive designer of the Morris Minor and Austin Mini, said: “A camel is a horse designed by a committee”. The proposed Philippine sovereign wealth fund appears to have been birthed the same way.

A more sensible solution might have been a new government corporation and a doable P200billion stock market Initial Public Offering to provide funding and subsequent liquidity for existing government entities like the GSIS and SSS. The Philippine economy would also benefit through the public ownership of shares.

new government corporation and a doable P200-billion stock market Initial Public Offering to provide funding and subsequent liquidity for existing government entities like the GSIS and SSS. The Philippine economy would also benefit through the public ownership of shares.

But this is a time when a costume designed to highlight the cultural heritage of a country is a stylized comic superhero bikini. Then there is “The War.” The US has a mixed record in fighting proxy wars, as in South Korea and Vietnam. The US triumphed in the battle against the USSR over Afghanistan, but Osama bin Laden and now the Taliban won the war.

NY Post November 18, 2022:

“The Defense Department spent more than $2.6 billion between May and October of this year replenishing stocks of key weaponry and equipment dispatched to Ukraine to support its ongoing fight against Russia—but it will still take “multiple years” for the US to be fully resupplied.”

China reported Q4 GDP up 2.9 percent year-on-year as zero Covid policies hammered growth for most of Q4 but smashing the estimate of plus 1.6 percent. However, China’s total population fell by 850,000 in 2022, a drop for the first time since 1961, the final year of the Great Famine under former leader Mao Zedong.

“This is a truly historic turning point, an onset of a long-term and irreversible population decline,” said Wang Feng, an expert on Chinese demographic change at the University of California, Irvine.

China always said it needed to get rich before it grew old. They did not.

“Abundant labor has been the fuel that has driven China’s rapid growth for more than four decades and now China is flying at high speed without enough fuel.” Automation will help. But 120 million Chinese officially are “hungry,” suffering from daily malnutrition.

These are just a few of my examples of what 2023 looks like so far. And we have 346 more days to go.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

Gates Foundation takes up question of its own power

By Thalia Beaty | The Associated Press

DoES The Bill & Melinda Gates Foundation have too much power and influence?

It’s a question the foundation’s CEo Mark Suzman raised in its annual letter released Tuesday that outlines the organization’s priorities and announces its budget for the coming year. With $8.3 billion to give away in 2023, the Gates Foundation is the largest private philanthropic donor. And with an endowment of more than $70 billion, its spending power is likely to continue for many decades.

When asked in an interview with The Associated Press what he thought the answer to that question was, Suzman said, “No.”

He said the Seattle-based foundation takes its direction from the Sustainable Development Goals, set by the United Nations and its member countries in 2015, and knows that with its great resources come great responsibility.

“We try to use our tools, our skills, our resources, sometimes our technical skills, sometimes our voice in advocacy to help advance and drive those forward,” Suzman said.

Others disagree, including researchers who have followed the foundation’s funding for education in the US, its weight in international global health organizations and its approach toward the agriculture of smallholder farmers around the world. The foundation works on a wide range of issues and employs 1,700 staff members, who are experts in those areas, and espouses a dream-big ethos of setting ambitious goals.

Bill Gates, in his most recent public letter in December, described the foundation’s mission as reducing inequity and helping “people in poor

When asked in an interview with The Associated Press what he thought the answer to that question was, Suzman said, “No.” He said the Seattle-based foundation takes its direction from the Sustainable Development Goals, set by the United Nations and its member countries in 2015, and knows that with its great resources come great responsibility.

countries who shouldn’t die, not die. Especially children.” Suzman said its mission is to help “ensure that every person has the chance to lead a healthy, productive life.”

It has spent billions of dollars to vaccinate against polio, treat and prevent malaria and HIV and more recently advance vaccines for diseases like cholera and advocated for other donors, including countries, to join in these global public health efforts.

But some of its interventions have not achieved their goals, despite widespread adoption.

In one example, the foundation championed a theory of measuring teacher effectiveness in US schools. Then, it commissioned research in 2018 that found the approach did little to consistently improve learning outcomes for students. It also advocated for curriculum standards called the Common Core that have been criticized as being too formulaic and are still in effect in some states.

The foundation announced in October a new education initiative funded by $1.1 billion over four years to try to improve math scores through developing new curricula and digital tools. For Alex Molnar, of the National Education Policy Center, the plan demonstrates the power billionaires like Bill Gates have—experimenting with the education of the poorest children, despite past missteps.

“It is so fundamentally misdirected and so obviously wrong, both in the moral sense and in the rational sense, that it is literally breathtaking,” Molnar said. “This very wealthy, very narrow man can

“Gates”

John Mangun

Social media firms bent rules to favor Trump, January 6 staff finds

By Anna Edgerton & Mike Dorning Bloomberg Opinion

Social media companies bent their own rules in favor of former President Donald Trump and his supporters in the volatile weeks preceding the 2021 attack on the US capitol, according to an unpublished staff report from the House’s Jan. 6 committee.

The 122-page “Summary of Investigative Findings,” which was obtained and posted by the Washington Post, analyzes testimony from employees and documents received from tech companies including Twitter Inc. and Meta Platforms Inc. It details how the companies failed to adequately address the calls to violence and election-related conspiracy theories circulating online after the 2020 presidential election.

“Both Facebook and Twitter faced significant headwinds in taking aggressive action against problematic content by President Trump and his supporters, partly out of fear that they would be classified as overly partisan,” according to the report.

The committee’s findings contradict complaints from conservative politicians that social media companies are biased against right-wing users. Leaders of the new Republican majority in the House have vowed to investigate allegations of ideological discrimination, using congressional hearings and, if necessary, subpoenas to probe content moderation decisions.

The leak of the document comes as Facebook’s parent company, Meta, decides whether to allow the former president back on its platforms. Twitter reactivated Trump’s account in November after Elon Musk, the company’s new owner and chief executive, polled his followers on whether Trump should be reinstated. Trump hasn’t tweeted since his initial suspension after his supporters attacked the US Capitol two years ago.

The report covers the shortfalls of other platforms, including mainstream companies such as Google’s YouTube and Reddit Inc. as well as those with a smaller user base such as Parler Inc. and Gab. The panel’s investigators interviewed technology industry executives and law enforcement and intelligence officials, along with Trump aides and Republican election officials.

A spokeswoman for Representative Bennie Thompson, the Democratic chairman of the panel, didn’t respond to a request for comment or confirm the authenticity of the document.

The report said that Trump’s Dec. 19 tweet encouraging supporters to come to Washington on Jan. 6 — “Be there, will be wild!” — was a transformative moment across social media, changing the tenor of the conversation online to explicit planning for the event. Plans for violence were telegraphed on both far-right forums and mainstream platforms, which pushed Jan. 6 as a critical day in the Stop the Steal movement, the report said.

The report provides examples of Twitter managers failing to act on employee warnings about heated rhetoric on the platform, including the phrase “locked and loaded.” Employees were told they could escalate any troubling content to superiors, but “no experienced supervisor was on duty the morning of the certification of the Presidential election,” the report said.

The company found its own response to the incitement of violence troubling, according to the report, but “no substantive work was done to improve the situation in 2021,” including in other highprofile elections such as in Brazil last year.

The report said that Trump’s Dec. 19 tweet encouraging supporters to come to Washington on Jan. 6—“Be there, will be wild!”— was a transformative moment across social media, changing the tenor of the conversation online to explicit planning for the event.

Plans for violence were telegraphed on both far-right forums and mainstream platforms, which pushed January 6 as a critical day in the Stop the Steal movement, the report said.

Supporters of former Brazil President Jair Bolsonaro that ransacked government buildings on Jan. 8 this year used tech platforms to cast doubt on his loss in last year’s presidential election.

In the US, Facebook’s Samidh Chakrabarti, then the product lead for the US election, suggested forming a working group to “study the torrent of election delegitimizing content on Facebook.” Guy Rosen, Facebook’s chief information security officer who was running the company’s safety and integrity efforts at the time, told Chakrabarti that even studying the problem “would just create momentum and expectation for action” that he didn’t support.

Meta spokesman Andy Stone declined to comment on the draft report and referred questions about Trump’s reinstatement to the company’s previous public statements, which pledged consequences for future violations if Trump’s accounts are reinstated.

Twitter, Parler and Gab didn’t immediately respond to requests for comment.

“We have long established policies that prohibit hate speech, harmful conspiracies and incitement,” Ivy Choi, a YouTube spokesperson, said in an e-mail. “As a direct result of these policies, even before Jan. 6 we terminated thousands of channels, several of which were associated with figures related to the attack, and removed thousands of violative videos, the majority before 100 views.”

Reddit, in a statement, said it found no evidence of coordinated calls for violence on its platform related to Jan. 6.

“Reddit’s site-wide policies prohibit content that promotes hate, or encourages, glorifies, incites, or calls for violence against groups of people or individuals,” the company said in the statement. “We will continue to monitor and enforce our policies across the platform.”

The House panel that investigated the Jan. 6 Capitol insurrection focused in televised hearings and in its final report on the role Trump and his efforts to overturn the presidential election. That 814-page report, which was issued in December, concluded Trump was “the central cause” of the 2021 mob invasion of the Capitol.

The hearings and report included testimony on the importance social media played in spurring supporters to come to Washington and inciting the mob after it penetrated the Capitol to further anger against former Vice President Mike Pence. That included accounts of the impact of Trump’s Dec. 19 tweet, but the panel mostly focused on the conduct of Trump and his associates. With assistance from Sarah Frier, Alex Barinka and Emily Birnbaum / Bloomberg.

China’s fondness for pork wavers as Covid surge crushes demand

By Hallie Gu | Bloomberg Opinion

‘TiS the season in china when whole hams and cured sausages should be flying off the shelves as households prepare for the lunar New Year, the biggest festival in the nation’s calendar.

But as hundreds of millions grapple with an unprecedented Covid outbreak, the country’s fondness for the celebratory dishes that usually accompany gatherings with friends and family is in deep freeze. The price of pork, China’s favorite meat, has plunged.

The food industry is again bearing some of the harshest economic costs of the pandemic, although this time around the problem stems from the government’s abrupt exit from the Covid Zero policies that had shaped its response to the virus for three years. As infections rip through the population, fewer people are meeting up at home or in restaurants, and they’re spending less on pricier items like meat, while the sick eat lighter meals.

“Sales are slow and demand has been very sluggish,” said Zhou Huan, who runs a butchers shop in Beijing. Zhou said orders fell by about twothirds from what might be expected at this time of year after the government effectively abandoned Covid Zero in early December. “People suddenly vanished. No one was out,” he said.

Pork is China’s staple protein, accounting for about 60 percent of

all meat consumed in the world’s most populous country, according to McKinsey & Co. Raising hogs is a business that includes millions of family smallholders, to giant agricultural concerns, to the trading houses that ship animal feed from farmers as far afield as the US and Brazil to fatten the world’s biggest herd. And the lunar holiday, or Spring Festival, which falls this year at the end of January, is when pork is usually most in demand.

The numbers this year tell a different story, with weak consumption exacerbated by rising supply as farmers rush hogs to slaughter after the end of Covid Zero allowed freer movement of goods. Pork bought at China’s main wholesale markets fell to about 64,000 tons last month, almost half that of a year ago, according to the farm ministry. Producers are now losing money after pig prices dropped by about a third since the start of December, according to data from Shanghai JC Intelligence Co.

“Consumption may have hit rock bottom, but prices could fall further,” said Pan Chenjun, a senior analyst with Rabobank. “Pork demand this Spring Festival will be lower than last

The food industry is again bearing some of the harshest economic costs of the pandemic, although this time around the problem stems from the government’s abrupt exit from the Covid Zero policies that had shaped its response to the virus for three years. As infections rip through the population, fewer people are meeting up at home or in restaurants, and they’re spending less on pricier items like meat, while the sick eat lighter meals.

year and even worse than the year before. Covid cases have just peaked but it doesn’t mean that demand will come back immediately,” she said.

The ramifications extend beyond the domestic hog industry. Pork is a key food component in the consumer price index, so falling prices will be welcomed by a central bank wary of the inflationary impact of China’s reopening. The latest figures for December showed pork inflation decelerating on year, and contracting on a monthly basis. But the foreign farmers that supply animal feed will be less sanguine. China’s import bill for soybeans alone topped $60 billion last year.

Commodities markets broadly expect Chinese demand to recover from the second quarter as the population builds immunity to Covid and economic activity revives. But

much depends on how strongly the economy can perform after slowing so dramatically in 2022, against the backdrop of a looming global recession.

Regarding pork, “demand should improve gradually going forward and overall consumption in 2023 would be better than 2022,” said Pan. “But there are also great uncertainties after the opening up, and it is unknown whether consumption can return to pre-Covid levels. A lot of factors are at play this year, like economic performance and unemployment rates.”

In the meantime, the impact of the surge in travel expected over Lunar New Year is in the balance. Newly won freedom from China’s crushing virus restrictions could lead to a splurge in spending as friends and families reunite.

But the event, which has been dubbed the world’s largest annual migration, is also likely to spread infection even further through the population. Beyond that, the risk is that three years of Covid Zero, including travel curbs, stay-at-home orders, and citywide lockdowns, will have chipped away at the usual patterns of consumption.

“It’s hard to quantify, but I am indeed eating less meat,” said Will Xu, a fund manager living in Shanghai, who got Covid in mid-December and who doesn’t plan to travel for the Spring Festival. “We also dine out less now. It seems the infection affected my appetite for meat.”

Soccer scam jury hears of Fox TV rights bought with bribes

By Patricia Hurtado | Bloomberg Opinion

Two former executives under the 21st century Fox banner bribed soccer officials to win lucrative broadcast rights to tournaments, a prosecutor told a jury in their criminal trial, part of a long-running probe of corruption in the sport.

Hernan Lopez and Carlos Martinez were also accused of engaging in wire-fraud and money-laundering conspiracies for trying to promote Fox’s interests in securing the 2018 and 2022 World Cup tournaments.

“This system of bribery lasted for years, through generations of leaders,” Assistant US Attorney Victor Zapana Jr. told the jurors in an opening statement Tuesday. The bribery helped promote Fox as a significant broadcaster of international soccer tournaments, he said.

Officials of the sport “personally took money in exchange for secret, no-bid, below-market contracts for these valuable TV rights,” Zapana said. “This allowed disloyal, corrupt soccer executives to live a life of luxury, to buy Chanel, to buy Hermes.”

Global crackdown

THE trial, in federal court in Brooklyn, New York, stems from an international crackdown on cheating at FIFA, international soccer’s governing body, which burst on the scene with a predawn raid at a luxury Zurich hotel in May 2015. The inves-

tigation brought down some of the biggest names in the sport, including Joseph “Sepp” Blatter, who was ousted as FIFA’s president after 17 years in the role.

In an April 2020 indictment, federal prosecutors alleged that Lopez and Martinez oversaw bribes and kickbacks to win broadcasting rights for Fox in South America.

Lopez was the chief executive officer of Fox International Channels, and Martinez was a “high-ranking executive” of Fox Latin America Channel, an affiliate of the unit, according to the indictment.

Lawyers for Lopez and Martinez have called the prosecution “a thin case” and a “stale fiction.”

Fox wasn’t charged in the case.

Fox’s sports business came up at the 2017 trial of three former FIFA executives. Alejandro Burzaco, the former chief executive officer of sports marketing company Torneos y Competencias SA and a government witness, testified that the company sought to use the TV rights “to expand its Fox signal in all of the Americas, from Argentina to the USA.”

of the foundation.

continually, continually torment schoolchildren while all the while pretending that somehow he’s making the world better.”

The foundation, Suzman said, approaches its education work with humility and will develop curricula in partnership with teachers, students and schools. It does not impose its ideas from the top down, he said.

When asked about previous criticism that its education work had ignored issues that arise from poverty and that hurt learning, Suzman said he doesn’t see that as philanthropy’s role. He says it should support programs governments or business can’t or won’t fund.

“If we had great tools to address poverty, we would tackle it,” he said,

Molnar disagreed, saying that diminishing the number of poor people would mean stopping the wealthiest people from amassing their fortunes in the first place.

“It requires taking money from people like Mr. Gates—taxing the bejesus out of them,” he said. “Nobody should have that much money. Nobody should have that much influence.”

The Gates Foundation has recently taken steps to decentralize its decision-making. In the last two years, it expanded its top leadership, appointing five new members to its board of trustees, with 2023 marking the first time the larger board approved the foundation budget.

New members have already pushed the foundation to be more transparent, Suzman said. The board also recommended the foun-

In his own opening statement, John Gleeson, Lopez’s lawyer, told the jurors that his client was “an innocent man” and that Burzaco had blamed Lopez for his own crimes.

“It’s about revenge, a chance to get back at his enemies, who Burzaco now blames for his demise,” Gleeson said.

Martinez’s lawyer, Steven McCool, also put the blame on Burzaco. Burzaco was a “sophisticated man capable of hiding his scheme from other sophisticated men,” McCool said, insisting Burzaco had hidden the bribe-paying from his client and Lopez.

“The evidence will show the government got it wrong,” he told the jury. “They built their case on the back of a bad guy.”

‘Everyone knew’

THE US Internal Revenue Service, one of the federal authorities behind the long-running probe, alleged the scheme employed shell companies, sham consulting contracts and other methods to disguise the bribes and kickbacks.

Prosecutors said Lopez and Martinez teamed up with the sports marketing firm Full Play Group SA to pay millions of dollars a year in bribes to officials of Conmebol, the governing body for South American soccer. Full Play is also a defendant in the case. It has denied the charges against it.

dation set aside some of the $20 billion that Bill Gates committed to the organization in 2022 for future work and gradually raise its annual budget to $9 billion by 2026.

That the new board members have deep experience in philanthropy “is a recognition that giving money away well is a sophisticated enterprise and something that takes experience and learning and expertise,” said Kathleen Enright, who leads the Council on Foundations.

Bill Gates has reiterated that all his wealth eventually will go to the foundation, which will close 20 years after he, Melinda French Gates and Warren Buffett have all died. Buffett has entrusted the foundation with $36 billion from his fortune.

“It’s thankfully not a burning platform,” said Suzman.

In 2021, when Melinda French Gates and Bill Gates announced their

Mayling Blanco, a lawyer for Full Play, told the jury on Tuesday that South American soccer bosses eagerly accepted such payments for “generations” and that it was just how business was done.

“The evidence will show here that everyone knew,” Blanco said. “There was no prohibition against payments to executives.”

Burzaco, who began his career as a Citigroup Inc. banker, is expected to testify at the trial and could begin telling the jury his story as early as Wednesday, after lawyers for both sides finish their opening statements.

The probe has swept up numerous top officials.

Juan Angel Napout, a Paraguayan who was president of Conmebol, was sentenced to nine years in prison in 2018 after being convicted of receiving $3.4 million in bribes and soliciting almost $25 million. Jose Maria Marin, the former head of Brazil’s soccer federation, who was convicted at the same trial of pocketing $3 million in bribes from sports marketing executives, was sentenced to four years and released in 2020.

In addition to those convictions at trial, prosecutors have obtained at least 27 guilty pleas from individuals as well as four corporate defendants, said John Marzulli, a spokesman for Brooklyn US Attorney Breon Peace.

divorce, they said she would evaluate her participation in the foundation after two years. She remains fully committed to the foundation’s work, Suzman said, when asked.

In 2021, in its first report on the inclusiveness and equity of its work, the foundation learned many of its grantees and partners wanted to be consulted more and have their input incorporated into the foundation’s strategy.

Suzman said every team at the foundation now has a mandate to deepen their relationships with partners and its entire leadership team is participating in yearlong inclusion training.

“In the end, money can buy you any form of short term success,” Suzman said. “But long term sustainability requires deep sustained local ownership and direction and ultimately resources.”

LABOR GROUPS READY REPORT TO ILO MISSION

ACOALITION of the country’s largest labor federations on Wednesday said it will submit a comprehensive report of Freedom of Association (FOA) violations to the International Labour Organization High Level Tripartite Mission (ILOHLTM), due to arrive next week.

I n a press conference, Kilusang Mayo Uno chairman Elmer Labog said the report was a result of their nationwide consultations with labor groups.

The collection of evidence and testimonies by our team in Luzon, Visayas, and Mindanao were very tedious and detailed,” Labog said.

Julius Cainglet, Federation of Free Workers (FFW) Vice President and a member of the team drafting the report, said the report is already 90 percent complete.

It contains a detailed breakdown of labor rights violations incidents, including cases of redtagging and filing of trump up charges.

Its highlight will be the updates on the 56 trade unionists

killed from 2016 to 2021. s

It (the report) is now in the final phase of vetting so we can present the status [of the cases] to the tripartite high level mission next week,” Cainglet said.

T he ILO-HLTM, with tripartite representatives from Sweden, Australia, and Fiji, will conduct inquiries on alleged labor abuses in the country from Jan. 23 to 27, 2023.

Partido Manggagawa Renato Magtubo said they hope the arrival of the ILO-HLTM will compel the government to finally give updates on the killings of trade unionists.

“ There are no updates on the government agencies, which are supposed to investigate the brutal killings. So we hope the high level mission will investigate the said agencies,” Magtubo said.

T he fatalities, which was 46 in 2019, was the reason which prompted the ILO’s Committee on the Application of Standards to deploy a HLTM to the country S amuel P. Medenilla

CAAP seeks Congress help for gear upgrade

TO prevent a repeat of the January 1 technical glitch which disrupted hundreds of flights and inconvenienced thousands of passengers, the Civil Aviation Authority of the Philippines (CAAP) on Wednesday asked the House of Representatives to help them implement plans to upgrade the country’s Communications, Navigation, and Surveillance/Air Traffic Management (CNS/ATM) System, including procurement of the Ultimate Fallback System.

A t the continuation of the House hearing on the New Year’s Day incident, CAAP Director General Captain Manuel Antonio Tamayo said the agency shall proceed with its plans for improvement of the CNS-ATM.

Tamayo told lawmakers the CAAP needs to immediately restore and enhance the CNS-ATM to its original design before the incident.

“[We also need to do] procurement of the Ultimate Fallback System, which is considered a system upgrade and construction of an Independent Back-up for the current CNS-ATM,” said Tamayo.

A lso, he said, CAAP needs to hire a third-party contractor to provide oversight.

It is true that any man-made equipment can’t be 100 percent perfect all the time, but we want the public to know that we shall do the best we can in order to provide an efficient service to our country and the aviation sector,” said Tamayo.

Nevertheless, we will be needing the help and assistance of this honorable committee in making these plans come into reality. This is of course to provide better service to our fellow Filipinos and our country, which may further boost our tourism industry,” he added.

M eanwhile, Tamayo also apologized for the confusion caused by several statements issued by CAAP to a public desperate for explanations on what really happened on January 1.

“ Please take note that it was never our intention to do so. The differences in the reports are due to our bid to be transparent to the public, that we provide updates to the media and other government agencies as they happen,” he said.

Tamayo had said CAAP’s first assessment was a problem with the UPS since it was not providing power to the equipment despite being active and receiving power from the source.

“[But] it was not until the engineers were able to determine that the probable cause of the disruption was the circuit breaker after a series of remedial measures, and evaluation,” he said.

“ There were intervals in our of -

ficial reports as our controllers, engineers, and technical staff were all working together to ensure the safety of all aircraft queued for landing and to quickly restore power without further damaging our vital equipment,” Tamayo explained.

A ll the assessment, evaluation, and theories as to the probable cause of the disruption only came clear after the situation had normalized, said Tamayo.

“And as of this moment, we have identified that the probable causes of this ordeal are the damaged circuit breaker, and one of the equipment which was damaged—the Power Transfer Switch (PTS). Both items were turned over to the CICC last January 09, 2023 for forensic investigation and examination to ensure impartiality,” he said.

According to Tamayo, the external investigation handled by other government agencies is still ongoing.

“ We would like to manifest that we take all of this as a lesson and we further manifest to this committee, and all those who were affected that we take full responsibility and accountability for what happened,” he added.

Independent body

An independent body is currently investigating the technical glitch that led to the total shut off of the CNS/ATM system last January 1, 2023, according to Transportation Undersecretary for Aviation Roberto Lim.

L im revealed the investigating body has representatives from the Department of Transportation (DOTr), Department of Information and Communications Technology (DICT), Cybercrime Investigation and Coordinating Center (CICC), National Bureau of Investigation (NBI), and the National Intelligence Coordinating Agency (NICA).

L im added that CAAP inhibited itself from participating in the investigation.

R epresentatives of agencies have already visited the CNS/ATM site and gathered testimonies from personnel manning the critical system, Lim said.

So far, [they] have visited the site. They inspected the relevant parts of the facility, they have interviewed people, testimonies from people directly involved in operating, manning and supervising the CNS/ATM,” he said, adding that a vulnerability test is being conducted on both the CNS/ATM system and its equipment.

L im said the investigation could take weeks before submitting the body’s findings and recommendations to the committee.

Jovee Marie N. Dela Cruz, Nonie Reyes

URC’s sugar mill to help CADPI-displaced farmers

By Jasper Emmanuel Y. Arcalas @jearcalas

Universal

planter-customers that they will receive “whatever” incentives URCSURE Balayan has been extending to its existing customers.

U RC-SURE Balayan, he added, is currently in talks with planters’ associations to discuss the optimal allocation of the sugar mill’s capacity for the new sugarcane planters of the mill.

T he URC-SURE Balayan’s milling capacity is about 5,000 MT of sugarcanes per day.

nessMirror that the agriculture department is well aware of the challenges confronting CADPI’s displaced sugarcane planters.

E stoperez said he recently met with some sugarcane planters affected by CADPI’s mill closure, who staged a rally in front of the Department of Agriculture, to discuss and address their woes.

ers on where to mill their canes.

U RC Sugar and Renewables (URC-SURE) General Manager

Rene Cabati said the firm’s sugar mill in Balayan, Batangas is now ready to accept sugarcane from planters affected by CADPI’s sugar mill closure.

C abati said URC-SURE Balayan will extend its milling season by a month or until June to accommodate the influx of new sugarcane planters as much as possible. Cabati disclosed that the Sugar Regulatory Administration (SRA) is aware of URC-SURE Balayan’s plan to extend its milling season.

T he BusinessMirror earlier reported this week that CADPI, a subsidiary of listed firm Roxas Holdings Inc., has permanently shut down its milling operations, raising concerns from sugar plant -

URC-SURE Balayan started its milling season for the current crop year last November 5, based on SRA data. So far, the sugar mill has already produced 13,829 metric tons (MT) of raw sugar.

It is to our mutual interest that these sugarcanes will all be milled not only for Batangas but also for the country. Especially since our country now needs sugar, we have to convert their sugarcanes into raw sugar or else the [farmers] would suffer it that will not happen,” Cabati said in an exclusive interview.

“Our only wish is that the weather conditions would be supportive of the harvest. Because if it rains again, then the farmers’ harvest would be affected,” he added.

C abati assured its new sugarcane

T he URC executive said they plan to improve the firm’s Balayan sugar mill to be able to cater to the Batangas sugarcane planters more efficiently.

We want the planters to stay motivated in sugarcane farming. It is a good crop, it is a good livelihood,” Cabati said.

We in the sugar mill are already on the drawing board, studying the expansion of the Balayan sugar mill. It will take time but that is our direction,” Cabati added.

C abati also disclosed that URCSURE Balayan will start milling early in the next crop year 20232024. Instead of its usual November schedule, it will start milling sugarcane in October to accommodate more planters in anticipation of higher volume of supply.

A griculture Assistant Secretary Rex Estoperez told the Busi-

A ccording to Estoperez, the instruction of Senior Agriculture Undersecretary Domingo F. Panganiban is to extend whatever assistance  the department can give to affected sugarcane planters.

E stoperez said the Sugar Regulatory Administration (SRA) has formed a team to determine the possibility of running CADPI’s mill for a few weeks just to serve the remaining sugarcane of the planters.

T he other option is to transport the planters’ sugarcane to other mills such as the URC-SURE Balayan and Progreen Agricorp Inc., a distillery.

E stoperez revealed that SRA has committed to assess its funds to be able to extend any possible “assistance” to the affected sugarcane planters. For its part, the DA will provide vegetable seeds to the planters for crop diversification and determine the possibility of granting a solar-powered irrigation system, he added.

By Josef T. Ramos

LAS VEGAS, Nevada — A Filipino-made firearm manufactured in the United States of America was launched with a lot of pride at the start of 2023 Shot Show —the largest and known weapon trade exhibit in the world—on Tuesday (US time) at the Venetian Hotel here.

A RMSCOR Global Defense Inc. (AGDI) Chairman/President and Chief Executive Officer Martin Tuason unveiled the RIA 5.0 firearm pistol to the public —including the thousands of prospective buyers, fellow exhibitors and suppliers around

the world on the first day.

We have an awesome pistol out here fully made in the United States. So as a Filipino, I am always proud to bring the best of the Philippines to the rest of the world,” the 48-year-old Tuason told attendees at the Venetian Expo Level 2.

“ But as a Filipino company with an operation in [Cedar City] Utah, we are proud to bring what’s the best of the United States to the Philippines as well eventually, or make the other way around because this is truly the best firearm that I ever shot,” he said.

Tuason was joined by Senate

“ This is the best firearm in the world not because I am the president of this company, not because I helped develop it, and not for anything else because the technology of this firearm is unique,” he explained.

A total of 300 RIA 5.0 units would be definitely available in the market, according to 65-year-old former E7 gunnery

president

and

“ We want the people to want it before we produce more,” Gomez said, adding that they plan to produce around 3,500 RIA 5.0 for this year in the United States aside from the 30,000 shotguns they also eye to produce before the year ends.

It is patented and when you squeeze the trigger, you just cannot believe it. It is just unimaginably great... and we’re going to continuously make it better throughout the years which you will not only see today but there’s more,” he added.

-

President Juan Miguel Zubiri, Rock Island Armory President Lisa Tuason, also the Marketing and PR head of ARMSCOR Global Defense Inc, State Attorney General of Utah Sean Reyes and American actor Joe Mantegna at the stage.

rank Ameri

can Marine Lynn Gomez, vice-

of production

plant manager of RIA.

GOKONGWEI-LED

Robina Corp. (URC) will purchase as much sugarcane as possible from Batangas planters displaced by the permanent shut down of Central Azucarera Don Pedro Inc. (CADPI), a high-ranking official told the BusinessMirror

FROM left to right: State Attorney General of Utah Sean Reyes, Senate President Juan Miguel Zubiri, ARMSCOR Global Defense chief Martin Tuason, American actor Joe Mantegna and Rock Island Armory President Lisa Tuason.

KEPCO: Several firms keen on coal power assets in PHL

By Lenie Lectura @llectura

“K e P CO intends to enter into an agreement within the first half of this year. The shortlisted bidders are currently undergoing due diligence and site visits. As the marketing process drew more than the expected interests, the potential sale process has gained further traction towards a successful closing,” the company said in a statement.

electricity demands and reliance on coal, as power source, allowed for competitive bids.

The South Korean state-owned power firm said it is in the second round of the sale process of its two non-core energy assets in Cebu.

K eP CO is selling its 60-percent stake in a thermal power plant in Cebu, K e P CO SPC Power Corp. (KSPC), and its 40-percent stake in SPC Power Corp. (SPC). It has appointed Samil PwC as its financial

advisor for the sale.

There are several domestic and foreign bidders that expressed “high interest” in the assets and subsequently submitted preliminary bids. Shortlisted bidders, who are invited to the second round, are expected to submit final offers by the first quarter this year. The company declined to identify them.

K e P CO’s Cebu plant’s Circulating Fluidized Bed Combustion (CFBC) technology, regarded as the environmentally optimized combustion process among coalfired power plants, is considered as the key factor for the interest from the investors’ perspective. Despite the worldwide environmental, social and governance ( e S G) movement, K e P CO said

KSPC, a joint venture between K e P CO Philippines h o ldings Inc. (KP h I ) and SPC, owns and operates a 200MW circulating fluidized bed (CFB) coal-fired power plant in Naga, Cebu. Since its operation in 2011, the plant has been supplying stable and efficient power to the Visayas region. Additionally, KP h I also directly owns a 37.96 percent stake in SPC.

It, however, clarified that it will retain its solar power investment in the Philippines. The company has existing investment in Solar Philippines Calatagan Corp. and is looking to invest more in renewable energy projects in the country.

A Brown creates new agri company

By VG Cabuag @villygc

The board of listed A Brown Co. Inc. has approved the creation of an agricultural firm that will be engaged in the milling and selling of palm oil.

In its disclosure, the company said it will own 100 percent of Surigao Greens Agri Corp., a company in the process of incorporation.

A Brown will be subscribing to 12.5 million common shares representing 100 percent of the company’s

outstanding capital stock upon incorporation.

The primary purpose of the company is “to engage in the business of processing, milling and refining palm oil to manufacture crude palm oil, refined beached deodorized palm oil, palm olein and other products and to distribute such products on a wholesale or retail basis, provided that the corporation shall not solicit accept or take investments/placements from the public and neither shall it issue investment contracts.”

The company is also in the process of building the country’s first com-

PPA to auction off 2 projects ERC to

The Philippine Ports Authority (PPA) will auction off major two port development and management projects within the year, as it did not receive any “renewed unsolicited proposals” for the said deals.

In an interview on Wednesday, PPA General Manager Jay Daniel Santiago said the agency is gunning to bid out the contracts for the modernization and operations of the Iloilo Commercial Port Complex (ICPC) and the Port of General Santos.

“We intend to bid them out in the middle of the year. We have not received any renewed unsolicited proposals for the two. I think that is a sign that we can proceed with bidding them out,” he said. “Ideally, we can start before the end of June.”

Santiago said the port authority has started crafting the terms of reference for the two deals, noting that they will involve “full terminal leasing, operations, management, land side and water side improvements, and expansion.” “We’ve done our homework already on the ICPC and General Santos. We just have to make sure that we update the data and make sure that the data and assumptions are reflective of the current situation now and any changes in assumptions moving forward,” he said.

International Container Terminal Services Inc. (ICTSI), a listed company controlled by billionaire enrique K. Razon, initially proposed to develop the ICPC in 2019, but later on withdrew from the race due to the slow movement of its offer. Lorenz S. Marasigan

The energy Regulatory Commission (eRC) on Wednesday said it will fast-track its review of all pending petitions of the National Power Corp. (NPC) for its availment from the Universal Charge for Missionary electrification (UCMe) and all other similar applications involving the UCMe

T his after several New Power Providers (NPPs) and Qualified Third Parties (QTPs) informed the eRC of the circumstances surrounding the delay in NPC’s payment of UCMe subsidy billing.

“The Commission is already in the process of evaluating all pending petitions of the NPC…. Rest assured that, the Commission shall expedite the review of NPC’s relevant petitions following due process and proceedings, in addition to looking for alternative solutions to solve the present crisis in missionary areas, while ensuring that reasonable prices and quality ser-

mercial electron beam (e-beam) irradiation facility, which is expected to be completed by September this year.

The said project, located in a 1.17 hectare of land in Tanay in Rizal, will be carried out by its unit Irradiation Solutions Inc.

The facility will utilize a new process that enables the treatment of goods using electron beam technology, the first of its kind in the country.

The Philippine Nuclear Research Institute, which has been championing the creation of a private irradiation facility since 2017, welcomed the

Tanay facility.

Paul B. Juat, C eO of ISI, the project seeks to promote additional economic activity both locally and nationally.

“We are anticipating the creation of more jobs and other opportunities as a result of this new facility, which is expected to create an impact to the local economy of Rizal. And with irradiation technology recognized globally as a proven and safe technology, we can better support the growth of various industries and help develop multiple downstream industries as well,” Juat said.

petitions

vice will be provided,” the eRC said.

According to NPC, the continuous increase in the average price of diesel has led to the depletion of allotted funds for fuel. The state firm said it has taken measures to bridge the gap in funding through the implementation of corporate-wide austerity measures, and by looking into possible borrowing or additional subsidies from the national government.

“As the regulatory body tasked with the duty of protecting and promoting consumer interest, the Commission is faced with the challenge of balancing the interests of our consumers and end-users in missionary areas on one hand, and on-grid end-users who shoulder the burden of subsidizing the UCMe , on the other,” the eRC said.

NPC said the price of diesel rose from P47.4303 per liter in early 2022 to as high as P80.0053 per liter over a four-month period.

“At present, NPC’s current fuel

supply continues to dwindle after its fuel supplier has again halted delivery. Much as it wanted to maintain current service hours, NPC is left with no option but to reduce the operating hours of its power plants to stretch the current fuel supply until the 31st of December,” NPC had said.

It added that there were additional funds funneled to its operations as the Department of Budget and Management allowed it to utilize the unobligated national government subsidies from prior years. These funds came in two tranches amounting to P1.319 billion and P1.027 billion.

Further, NPC expects to receive an additional P180 million per month from its UCMe true-up collections.

Also, the national government has granted NPC another P2.99 billion to augment its budget for payment to the NPPs and QTPs. however, this amount only covered past due accounts up to September 2022.

By Lorenz S. Marasigan @lorenzmarasigan

MPCALA h o ldings Inc. (MhI ) assured the government that it will work on portions of the Cavite-Laguna expressway (Calax) where right of way (ROW) has been delivered.

The company also said it is working “closely” with the Department of Public Works and highways (DPW h) to fast-track the already-delayed Silang (Aguinaldo) Section.

Raul Ignacio, the company’s president, told government officials during an inspection of the operational 14 kilometers section of Calax that the company will push for the quick completion of the project despite the delays in the delivery of ROW.

“While we work closely with our grantor, DPW h to fast-track delivery of right-of-way, especially in the critical area in Silang, we continue to do construction work on areas where right of way has already been granted so as not to further delay the project,” he said.

Toll Regulatory Board (TRB) officials recently conducted an inspection of the Calax’s technological, safety, and security features, toll plaza operations, including the Automatic License Plate Recognition (ALPR) cameras and RFID system.

MhI is facing delays in the completion of the Silang (Aguinaldo) section of Calax as Uneco Land Corp.,

the private owner of a 450-meter parcel of land critical to the completion of the segment, demanded P50 million to P60 million in exchange for the land.

Initial estimate for the said parcel of land is pegged at P16 million.

To date, only 64.8 percent of the Silang (Aguinaldo) Interchange segment has been finished.

MhI initially targeted to complete this segment last December but had to push it back to the first quarter of 2023 due to delays brought about by the ROW acquisition.

This fifth of the eight segments of the 45-kilometer expressway spans at 3.9-km, with 2x2 lane expressway from Silang east Interchange to Aguinaldo highway in Cavite. Upon completion, this will serve more motorists, including the 298,000 residents of Silang, given the reduced traffic situation. Overall, Calax is “more than 57 percent” complete.

To date, Calax’s operational segment spans 14.24-kilometer with interchanges at Greenfield-Mamplasan, Laguna Technopark, Laguna Boulevard, Santa Rosa-Tagaytay, and Silang east. Other interchanges of Calax, namely, Open Canal, Governor’s Drive, and Kawit, are targeted to be completed by 2023.

Upon completion of the entire public-private partnership project of the DPW h and MhI, it will connect to the Manila-Cavite ex pressway in Kawit, Cavite.

Korea electric Power Corp. (KePCo) said Monday it is selling its coal power assets in the Philippines as it moves to restructure its overseas business.

expedite review of NPC

Photo shows the National Power Corp.’s diesel power plant in Northern Samar. From www.napocor.gov.ph

MHI vows to hasten completion of Calax

photo From www.calax.com.ph

Banking&Finance

BSP squeezes out only ₧334.785B from system

By Cai U. Ordinario @caiordinario

THE Bangko Sentral ng Pilipinas (BSP) partially awarded Term Deposit Facilities (TDFs) as investors preferred shorter tenors during the auction on Wednesday.

The BSP lowered the volume offering for the TDF auction to P350 billion from P390 billion last week.

The total offer volume was also reallocated between the 7-day and 14day tenors at P190 billion from P220 billion and P160 billion from P170 billion, respectively.

However, only the 7-day TDF was oversubscribed, with the respective bid-to-cover ratios (BCR) for the 7-day and 14-day TDF at 1.365x and 0.905x. BSP said, nonetheless, that total tenders received reached P404.159 billion, within the BSP’s expected volume range.

“The results of the TDF auction came as eligible counterparties reallocated their placements towards the shorter tenor as part of their efforts to manage liquidity in anticipation

of some client requirements,” BSP Deputy Governor Francisco G. Dakila Jr. was quoted in a statement as saying.

“Moving forward, the BSP’s monetary operations will remain guided by its assessment of the latest liquidity conditions and market developments,” he added.

BSP said of the total bids received, some P334.785 billion were accepted.

The BSP awarded P190 billion from P259.374 billion in bids in the 7-day tenor and accepted P144.785 billion in the 14-day tenor.

The data showed that the weighted average interest rates (WAIR) for the awarded bids in both tenors declined from the previous week.

The WAIR for the 7-day TDF fell by 5.7976 basis points (bps) to 6.2973 percent whereas that for the 14-day TDF fell by 2.4717 bps to 6.3733 percent.

The yields accepted for the 7-day tenor shifted lower and widened to 6-6.4 percent, while that for the 14day tenor widened to 6.15-6.5088 percent.

Taxing luxury goods seen to raise ₧12.4B–Salceda

THE House Committee on Ways and Means is eyeing at least P12.4 billion in annual revenues from the proposed expansion of the non-essential goods tax.

House Ways and Means Chairman Joey Sarte Salceda said he is targeting “non-essential goods whose prices are beyond the reach of the bulk of consumers and which are not significant or important inputs to other value-adding industries.”

The economist-lawmaker said his proposed list are luxury watches, luxury cars above P5 million in price, private jets, residential property above P100 million per unit, beverages above P20,000 per bottle and leather goods above P50,000 per unit.

“I’m looking at a short list of additional items in this ‘Louis Vuitton Tax.’ Basically, the aim is to find some way to tax the rich consistent with the constitutional principle of progressivity in taxation. For now, my short list will generate P12.4 billion at least,” he said.

The lawmaker explained that the non-essentials goods tax will be on top of all other taxes.

“The tax on luxury cars, for example, will be on top of the automotive excise tax, which is arguably a pollution and congestion tax but not yet a luxury tax,” Salceda said. “The tax on luxury residential properties will be on top of VAT and other taxes on its sale.”

He added that other items—sales of shares in exclusive membership clubs like the Manila Polo Club, Tagaytay Highlands, etc, jacuzzis, furs, all regatta equipment and antiques— are also being considered.

“But the revenue potential could be limited and enforcement costs could outweigh revenue potential,” Salceda said. He added that increasing the non-essentials goods tax rate to 25 percent or 30 percent on top of expanding the list will generate between P15.5 billion to P18.6 billion in annual additional revenues.

Not in perpetuity

SALCEDA explained that he is also studying how the additional revenues can be “funneled into the country’s creative sectors, particularly our own creators of luxury items. I think it’s time the Philippines becomes more than just a part of the whole assembly of luxury goods.”

The solon said he is looking at the possibility of power cost or labor cost subsidies for companies who can fully design and manufacture luxury bags and other “creative products” in the country.

“I am also looking at infusing the Creative Industry Development Fund with revenues from this new revenue stream,” Salceda added.

Meanwhile, Philippine Chamber of Commerce and Industry (PCCI)

President George T. Barcelon said he is in favor of imposing tax on luxury items as this could be “helpful in the meantime” for the challenges that the country is facing.

“Whatever is helpful in the meantime on the challenges that we’re facing, yes, it can be implemented; but it cannot be in perpetuity. There must be a timeline,” Barcelon told reporters on the sidelines of the press briefing of the Joint Venture Agreement between Inchcape Plc. and CATS Motors Inc. held in Taguig City last Wednesday.

The PCCI head stressed that there have to be some “criteria” on the products that will be taxed.

Point of debate

SALCEDA’S proposal to impose nonessentials goods taxes on several lines of luxury items was in response to calls from international organizations like Oxfam International that the nine richest Filipinos have more wealth than half of the country’s population.

Referring to Section 150 of the Tax Code, as amended, which currently imposes a 20-percent tax on the price of jewelry, perfumes and yachts, Salceda said that the committee will definitely pass a measure expanding the list.

“But we will discuss which items can generate the most revenue for the least effort,” the lawmaker said.

Salceda said his committee is particularly studying taxing the following: wristwatches, bags and other leather items above P50,000; private jets; luxury cars above P5 million; the sale of residential properties above P100 million; beverages above P20,000 per bottle; and, traded paintings above P100,000, among other items.

Salceda said the “point of the debate will be what can be universally considered ‘luxury.’” However, he said, “to me, it is when an item is beyond reasonable reach of the vast majority of the population and is not necessary for any essential function.”

Oxfam and its Philippine affiliate noted that “Inequality experienced in the Philippines is starker with the nine righest Filipinos having more wealth than the bottom half [55 million] of the population.” (Full story: https://businessmirror. com.ph/2023/01/17/lawmakerseye-imposition-of-tax-on-luxurygoods/)

Meanwhile, Auto Nation Group Inc. Chief Operating Officer Francis Jonathan C. Ang told reporters in a chance interview last Wednesday, that “we’re lucky to be in the luxury segment because it’s a little bit inelastic compared to the mass market so we’ll have to see what the government’s thoughts are in terms of the additional tax.” Jovee Marie N. Dela Cruz and Andrea San Juan

Maharlika Fund gains ‘huge interest’ in WEF–govt execs

By Samuel P. Medenilla @sam_medenilla & Jovee Marie N. dela Cruz @joveemarie

Villar was among the members of the Philippine contingent. who accompanied President Ferdinand R. Marcos Jr. at the ongoing WEF in Davos, Switzerland.

The lawmaker noted that during the dialogues he attended at the WEF, the MIF helped attract potential investors to the country.

“Many were interested in the Philippines and the wealth fund since they saw that the fund can be utilized to hasten development in the country and of course as investors, they want to see that we are active in infrastructure and products or funds that can help the government,” Villar said in Filipino in an interview with the Presidential Communication Office (PCO).

The ongoing government effort to create the MIF through legislation was announced by Marcos during his opening remarks at the Philippines Country Strategy Dialog.

The President said the fund, which is patterned on the sovereign wealth fund of other countries, will provide additional revenue sources to the government, while providing new employment, improving public service, and decreasing “costs of economic activities.”

“Such a fund is one tool among many in our efforts to diversify our financial portfolio, which includes our existing institutions pursuing investment that will [not only] generate stable returns but also welfare effects spanning employment creation, improvement of public service and a decrease in costs of economic activities,” Marcos said in his opening remarks at the Philippines Country Strategy Dialogue.

Government officials earlier said the MIF will be tapped to ensure the country’s food and energy security as well as build more infrastructures.

Enormous opportunity

SPEAKER Ferdinand Martin G. Romualdez on Wednesday said the “huge interest” shown by global leaders in the Maharlika Investment Fund (MIF) during the WEF in Davos, Switzerland, buttresses the wisdom of fast-tracking the passage of the proposed measure creating the sovereign wealth fund in Congress.

In a statement, Romualdez said Marcos noted during the PCSD that the process of establishing the country’s first-ever sovereign wealth fund is under way.

Members of the Philippine delegation to Davos noted the “huge interest” shown by WEF attendees in the proposed MIF, said the speaker, echoing Villar.

“The swift passage of HB 6608, creating the MIF, enabled the President and the Philippine delegation to take advantage of the enormous opportunity to showcase the positive developments in our country and creative strategies to gain growth momentum,” Romualdez said.

The lawmaker credited the collective effort of the House, from the leadership to the opposition bloc, for the passage of HB 6608; featuring adequate safeguards to protect against corruption or abuse.

Cooperation, sacrifice

MARCOS has certified the bill as urgent. The House of Representatives approved it on third and final

reading last December 15, 2022, and was transmitted to the Senate on December 19, 2022.

The Senate leadership said the MIF is among the priority legislations the chamber would work on when Congress resumes sessions this month.

“We could not have accomplished this challenging task without the cooperation and sacrifice of our members who exerted tremendous effort and diligence so we can conduct exhaustive debates and introduce necessary refinements to the Maharlika Investment Fund bill before our Christmas break,” Romualdez said.

HB 6608 is an independent fund that adheres to the principles of good governance, transparency and accountability, sourced from investible funds of select government financial institutions, contributions of the national government, declared dividends of the Bangko Sentral ng Pilipinas and other sources.

Also, Finance Secretary Benjamin E. Diokno, said the proposed MIF would help fund the Philippines’s infrastructure projects.

However, some business leaders opposed the creation of the MIF saying this could negatively affect the country’s credit rating. Labor groups are against it since their leaders say the MIF can take away government funds from much needed public services.

DENR chief cites framework for special climate fund

By Jonathan L. Mayuga @jonlmayuga

DEPARTMENT of Environment and Natural Resources (DENR) Secretary Maria Antonia YuloLoyzaga vowed to implement projects under the 8th cycle of the Global Environment Facility (GEF 8) anchored on a sound, scientific foundation.

Yulo-Loyzaga’s assurance was contained in a speech delivered by DENR Undersecretary Analiza Rebuelta-The during the kick-off ceremony of the GEF National Multi-Stakeholders Dialogue in Taguig City last January 18.

Projects in the GEF—a “multilateral environmental fund that provides grants and blended finance for projects related to biodiversity”—is expected to deliver economic, social and environmental benefits and would support the accounting valuation of the country’s natural resources and accelerate the appropriate management of the country’s environmental assets, the DENR chief said.

It was learned that under the GEF 8, the Philippines has one of the largest allocations in the Asean with over 120 projects and programming totaling over $727 million. Learning from its experience in implementing past GEF projects, the DENR said it hopes to address identified gaps.

The latter include: lack of policy coherence and integration between effective climate change adaptation and biodiversity actions; weak science-policy linkage and data generation in the envi-

ronment and natural resource management; limited knowledge development and management; and, inadequate innovative financing mechanism to support sustainable resource management.

“The fund marked an important point of progress in ensuring that vulnerable countries are provided the needed support,” Loyzaga said. “Further, the Philippines hopes to receive soon from the GEF Secretariat the guidance to the operating entities on the finance mechanism to support technology development, transfer and diffusion.”

Planet, people

THE DENR, the DENR chief said, also hopes to advance the country’s efforts to address environmental issues by tackling the drivers of ecological degradation and 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.

The projects are 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.”

According to Loyzaga, the sound, scientific foundation of the projects would also strengthen the national geospatial database for natural resources as a plat-

form for programmatic planning.

“We live in a multi-hazard environment and due consideration must be given to addressing highly differentiated and local scale impacts on food, water, energy and human security from ridge to reef,” Loyzaga said in her speech.

The Philippines continues to face more complex challenges in advancing goals toward achieving ecosystem integrity while building a more resilient and inclusive post-pandemic community, she added.

This, she said, calls on the Philippines to optimize the opportunity to review and finalize the country’s portfolio of projects under GEF 8 by developing projects that respond to the needs and priorities of the country.

As such, she said the “healthy planet, healthy people” framework as the heart of the overall global GEF 8 emphasizes the critical connection between humanity and the environment, highlighting the importance of urgent environmental threats reduction and protection of natural resources in order to improve human well-being.

Systematic, transformational

ACCORDING to Loyzaga, the GEF 8 calls for a “systematic and transformational” strategy that responds to the urgency of raising ambitions.

“The Philippines is geared up to work with GEF as its staunch partnership in strengthening national commitments to multilateral environment agreements while enhancing and institutionalizing

capabilities to translate these commitments into meaningful actions to support sustainable development,” she said.

Loyzaga said the Philippines “deeply values such exercises to design the integrated approaches needed” for several tasks. The latter includes the following: addressing “the intersectional ties between development, climate change, biodiversity and disaster resilience”; adopting a “comprehensive risk-management approach”; and, optimizing the resources available to improve quality of life.

In her speech, the DENR chief reminded the participants of the dialogue to recall the decisions of the recently concluded sessions of the Conference of Parties (COP).

She noted that the GEF, as a financing mechanism for the COP conventions, translates COP directives into operational guidelines for GEF projects.

Loyzaga, who led the Philippine delegation to the recent COP, took part in the sealing of the groundbreaking agreements during the 2022 UN Biodiversity Conference (COP15), which resulted in the adoption of the Kunming-Montreal Global Biodiversity Framework (GBF) that features concrete measures to halt and reverse nature loss, including putting 30 percent off the planet and 30 percent fo degraded ecosystems under protection by 2030.

COP 27, meanwhile, ended with a breakthrough agreement to provide finance to “Loss and Damage,” particularly for developing countries most vulnerable to the climate crisis.

BNPL operator taps China’s Alipay+ payment solution

By Rizal Raoul S. Reyes @brownindio

FIRST Digital Finance Corp. (FDFC), operator of card-free “buy now, pay later” (BNPL) platform BillEase, announced last Wednesday its new partnership with Pudong, Shanghai, China-headquartered Alipay.com Co. Ltd.

“Filipino consumers can now use BNPL and card-free installment option to shop at more global brands online,” FDFC said in a statement.

“This is after BillEase, one of the country’s consumer finance apps, welcomed 2023 with a landmark partnership with Alipay+, a global cross-border digital payment and marketing solution.”

According to the fintech, Alipay+ provides global cross-border mobile payment solutions that enable merchants, including small-scale and medium-sized businesses, to better serve mobile-savvy consumers. To date, Alipay+ has reached over 2.5 million global online and offline merchants and helped them to unlock the consumption potential of over one billion e-wallet users. Alipay+’s online merchant network includes regional and global digital entertainment providers, lifestyle services and e-commerce platforms.

Since its launch in 2017, BillEase has now over 2,000 merchant partners. Merchant partners of BillEase can offer shoppers three card-free installment options at checkout. Aside

from shopping, the BillEase app can be used for e-wallet top-ups, gaming credits, mobile load purchases and bills payment.

BillEase is the first Philippinebased BNPL provider to partner with Alipay+. Through the collaboration, BillEase and Alipay+ aim to revolutionize the digital payment landscape through BillEase’s consumer credit solutions, according to FDFC.

“Filipino shoppers with BillEase app can now leverage Alipay+ to complete online purchases at global merchants and pay in light and card-free installments via BillEase.”

Jia Hang, General Manager of Alipay+ Global Partnerships, was quoted in a statement as saying that “BillEase brings inclusive financial services to

the underbanked and underserved consumers in the Philippines.”

“We look forward to working closely with Alipay+ to help BillEase expand its global online merchant coverage,” FDFC CEO Georg Steiger was quoted in the statement as saying. “This partnership is also a major boost for financial inclusion in the Philippines as it will make not only financial services more accessible to millions of Filipinos but also global online merchants reaching wider and more diverse customers like ours.”

Like in other Southeast Asian countries, an increasing number of consumers in the Philippines has turned to digital payment methods during the pandemic, which resulted in the increasing adoption of BNPL.

The proposed Maharlika Investment Fund (MIF) drew “huge interest” from investors at the 2023 World economic Forum (W eF), according to Senator Mark A. Villar.

Health& Fitness

BusinessMirror

PHL needs to improve health, nutrition outcomes for mothers, babies—UN report

By Claudeth Mocon-Ciriaco

The United Nations Inter-agency Group for Child Mortality e st imation (UN IGM e ) h as estimated that 5 million children died before their fifth birthday.

The same report stated that another 2.1 million children and youth aged between 5 to 24 years lost their lives in 2021.

In a separate report, the group found that 1.9 million babies were stillborn during the same period.

Tragically, many of these deaths could have been prevented with equitable access and high-quality maternal, newborn, adolescent and child health care.

1,000 days of life

I N the Philippines, over 60,000 children die annually before their fifth birthday because of complications brought about by premature birth, intra-partum complications, and infectious disease. More than 25,000 babies are stillborn every year.

The Philippines needs to increase access to quality maternal and child health and nutrition services, achieve full vaccination of all children, and deliver on commitments for ensuring good health and nutrition through the first 1,000 days of life so that children will not only survive, but thrive.

In the Philippines, almost 60 percent of children who die before their fifth birthday are newborns, pointing to a need to improve health and nutrition outcomes for both mothers and babies.

“ e v ery day, far too many parents face the trauma of losing their children, sometimes even before their first breath,” said Vidhya Ganesh, UNIC e F D irector of the Division of Data Analytics, Planning and Monitoring.

Widespread, preventable tragedy

G A N e sh said such widespread, preventable tragedy should never be accepted as

inevitable.

“Progress is possible with stronger political will and targeted investment in equitable access to primary health care for every woman and child,” Ganesh added.

The reports showed some positive outcomes with a lower risk of death across all ages globally since 2000.

The global under-five mortality rate fell by 50 percent since the start of the century, while mortality rates in older children and youth dropped by 36 percent, and the stillbirth rate decreased by 35 percent.

This, they said, can be attributed to more investments in strengthening primary health systems to benefit women, children and young people.

Swift action needed howe V e r, gains have reduced significantly since 2010, and 54 countries will fall short of meeting the s us tainable Development Goals target for under-five mortality.

If swift action is not taken to improve health services, the agencies warned that almost 59 million children and youth will die before 2030, and nearly 16 million babies will be lost to stillbirth.

“It is grossly unjust that a child’s chances of survival can be shaped just by their place of birth, and that there are such vast inequities in their access to lifesaving health services,” said Dr. Anshu Banerjee, Director for Maternal, Newborn, Child and Adolescent h e alth and Ageing at the wo rld h e alth o rg anization ( w ho)

Banerjee added: “Children everywhere need strong primary health care systems that meet their needs and those of their families, so that, no matter where they are born, they have the best start and hope for the future.”

Differentiating chances of survival

Ch I l Dre N c ontinue to face wildly differentiating chances of survival based on where they are born, with sub- s a haran Africa and

s o uthern Asia shouldering the heaviest burden, the reports stated.

Though sub- s a haran Africa just had 29 percent of global live births, the region accounted for 56 percent of all under-five deaths in 2021, and s o uthern Asia for 26 percent of the total.

Children born in sub- s a haran Africa are subject to the highest risk of childhood death in the world—15 times higher than the risk for children in eu rope and Northern America.

Mothers in these two regions also endure the painful loss of babies to stillbirth at an exceptional rate, with 77 per cent of all stillbirths in 2021 occurring in sub- s a haran Africa and s o uth Asia.

Nearly half of all stillbirths happened in sub- s a haran Africa.

The risk of a woman having a stillborn baby in sub- s a haran Africa is seven times more likely than in e u rope and North America.

Basic rights to health

For his part, Juan Pablo Uribe, Global Director for h e alth, Nutrition and Population, wo rld Bank and Director of the Global Financing Facility said that behind these numbers are millions of children and families who are denied their basic rights to health.

we n eed political will and leadership for sustained financing for primary health care which is one of the best investments countries and development partners can make,” Uribe said.

Access to and availability of quality health care continues to be a matter of life or death for children globally.

Most child deaths occur in the first five years, of which half are within the very first month of life.

Premature birth, complications

For these youngest babies, premature birth and complications during labor are the leading causes of death.

s i milarly, more than 40 percent of stillbirths occur during labor, most of which are preventable when women have access to quality care throughout pregnancy and birth.

For children who survive past their first 28 days, infectious diseases like pneumonia, diarrhea and malaria pose the biggest threat.

w h ile Covid-19 has not directly increased childhood mortality. with children facing a lower likelihood of dying from the disease than adults, the pandemic may have increased future risks to their survival. In particular, the reports highlight concerns around disruptions to vaccination campaigns, nutrition services, and access to primary health care, which could jeopardize their health and well-being for many years to come.

Backslide in vaccinations I N addition, the report said, the pandemic has fueled the largest continued backslide in vaccinations in three decades, putting the most vulnerable newborns and children at greater risk of dying from preventable diseases.

The reports also noted gaps in data, which could critically undermine the impact of policies and programs designed to improve childhood survival and well-being.

“The new estimates highlight the remarkable global progress since 2000 in reducing mortality among children under age five,” said John w i lmoth, Director, UN D e s A Population Division.

“Despite this success, more work is needed to address persistent large differences in child survival across countries and regions, especially in sub- s a haran Africa. o n ly by improving access to quality health care, especially around the time of childbirth, will we be able to reduce these inequities and end preventable deaths of newborns and children worldwide,” he said.

ABDOMINAL p ain, constitutional symptoms such as weight loss, weakness, and loss of appetite are warning signals of liver cancer.

An abdominal mass or an enlarged liver can also be noted, the Department of Health (DOH) said. January is Liver Cancer and Viral Hepatitis Awareness and Prevention Month in the Philippines. Liver cancer is the third leading sites for both sexes. It ranked second among males and ninth among females.

D uring the “Philippine College of Physicians’ (PCP) Health Forum: Disease Burden of Liver Cancer in the Philippines and its Treatment,” Dr. Wendell Espinosa, Vice President, Hepatology Society of the Philippines,

said that it is estimated that all countries in Asia will have an increase in new cases of liver cancer from 2020 to 2040.

It is estimated that in 2040, the Philippines will have over 80 percent of new cases of liver cancer, Dr. Espinosa said.

Disease burden of hepatitis

T HE P CP noted that in spite of the Hepatitis vaccination initiative under the Expanded Program of Immunization (EPI) of the DOH, public health education on Universal Precaution for Infection, and the availability of diagnostic modalities for screening and detection of pre-cirrhosis conditions like ultrasound to detect

fatty liver, “we are still faced with the disease burden of viral hepatitis and liver cancer.”

Studies point to a causal relationship between Hepatitis B virus carrier state and liver cancer.

P rimary Liver Cancer is much more common in countries where HBV carriers are prevalent, such as the Philippines and other Southeast Asian countries, as compared to most developed countries where Hepatitis B is less prevalent.

Hepatitis C infection, though less prevalent, can also lead to liver cancer.

Other factors implicated are heavy alcohol consumption, prolonged heavy intake of aflatoxin and other chemical carcinogens.

graphics of the community they serve, and the programs they are implementing.

Emphasis should be towards prevention, by lowering the prevalence of Hepatitis B through infant vaccination and improving sanitation nationwide, the DOH said.

Treatment

U NFORTUNATELy, t he DOH said, there is no efficient early detection method for liver cancer.

For the occasional patient seen in an early stage, surgery can be curative.

O n the other hand, for the majority of cases, who are usually seen in an incurable stage, judicious and cost-effective palliative care can provide an acceptable quality of life. Claudeth Mocon-Ciriaco

By Debbie P. Sy

IN 2 022, we saw the much-awaited light at the end of the tunnel.

The Philippines started lifting some res trictions as the vaccine rollout continued. Along came the privilege of people to once again freely move around the community—regardless of age and comorbidity. And with this, businesses, livelihoods, and other services are returning to their pre-Covid vigor.

We were also welcomed with the news that the Philippines ranked 19th among 146 nations in the World Economic Forum’s Global Gender Gap Report 2022. Looking into four key dimensions—Economic Participation and Opportunity, Educational Attainment, Health and Survival, and Political Empowerment–the report showed us that the country has the highest level of gender parity in Asia.

Gender Gap Rankings

B U T t he country’s continuous performance in the Gender Gap Rankings didn’t happen overnight. The Philippines signed the Convention on the Elimination of all Forms of Discrimination Against Women (CEDAW) on July 15, 1980, and ratified it on August 5, 1981—the first ASEAN region to do so. Since then, the country’s programs and policies have been anchored on the CEDAW, tagged as the International Bill of Rights of Women.

These strides in gender and development and women’s empowerment are a cause for optimism. Like ripples of social change, it calls on private sectors, such as the SM group, to supplement this feat and spread social good in our own way.

With this as our anchor, we see a clear path for collaboration with various stakeholders—a collaboration that transcends to promoting gender responsiveness and inclusivity in key dimensions where needs are to be met, particularly in health.

Putting the community’s needs at the forefront of health care F OR f our decades now, SM group, through SM Foundation, Inc. (SMFI), our social good arm, has listened to the pulse of the people to uplift the communities we serve.

Before any projects or programs are implemented, we ensure that we conduct proper research and groundwork together with the operations teams of our local malls. Particularly in health and wellness, we coordinate with local government units—through our hardworking SMFI staff and leaders—to clearly understand what aid can be extended.

Moving to the heart of the projects, we carefully assess the community’s concerns by engaging with doctors in health centers, barangay health workers, community heads, and residents. We look into the current state of the health center, its location and susceptibility to disasters, human resource, demo -

It is here where we learn about matters that hinder women and children from achieving their full potential: high pregnancy rates of women and early pregnancy among youth.

Uplift communities

S TAy I NG t rue to our mission, we want to uplift communities by addressing their concerns with the end goal of enabling families and women to contribute to building a brighter future for the nation and live a full life.

With this, SMFI circles back to the community’s true needs and harnesses the potential of health centers by increasing their functionality and reviving their core purpose– which is delivering quality health services, especially for the vulnerable.

We go beyond upgrading the layout and structure and equipping health facilities with modern furniture and appliances. Our group places well-thought-out medical tools and medicines tailored to the needs of the residents.

For community-level maternal care, we equip centers with fetal doppler, comfortable beds in furnished OB rooms, and other tools to give mothers the health care they deserve. Like our malls, we allot space for breastfeeding stations in the health centers, where mothers can tend to their infant’s needs.

Mobile play cabinets

W E also ensure that newly upgraded facilities also have mobile play cabinets. It doesn’t only allow children to have a pleasant health care experience in a child-

friendly environment. The cabinets encourage learning and development through their educational books and gender-sensitive toys.

Moreover, the upgraded health centers ensure that all community members become allies in promoting a healthy community and join our mission of uplifting Filipino families. There are TB-DOTS areas, free medicines from SM group and our partners, and special lounges where LGU representatives can conduct hands-on family planning sessions and other discussions on healthcare promotion.

SM group’s effort doesn’t end post-implementation. We aim to sustain the social good we have started by consistently communicating and working hand-in-hand with health centers. Our mall’s operations teams work with our SMFI team to check and evaluate the facilities to ensure that quality health care services are continuously provided.

Health, wellness centers

T O date, we have improved over 170 health and wellness centers and served over four million patients. And at each center we turnover, we see the power of spreading social good through healthcare.

We witness health workers report for duty in the facility with pride and determination. This service goes beyond the center’s four walls as families, especially women and children, are at ease in getting care in their community. With improved health and care, they are empowered to do more for their families, communities, and the nation.

Debbie Sy is the Executive Director of SM Foundation Inc.

By Rory Visco Contributor

CANCER continues to be one of the top medical issues among Filipinos, with breast cancer being the most common among women in the Philippines.

The Philippine Foundation for Breast Care, Inc., through its website Kasuso.org, citing data from the Philippine Statistics Authority and the Department of Health (DOH), noted that three out of every 100 Filipinas will be diagnosed with breast cancer in their lifetime. It further noted that according to the Philippine Obstetrical and Gynecological Society, the country had the highest incidence of breast cancer among 197 countries around the world back in February 2017.

This is why a multi-sectoral group composed of public and private sector organizations gathered and launched a data-digital infrastructure project that aims to support breast cancer control programs in the country.

The Circle of Life

JUST like any other disease, cancer, in this case breast cancer, remains totally preventable, if only it is detected and diagnosed early, and that access to timely and quality care is provided. This was the vision of the community-based Ating Dibdibin program launched in 2008 by breast cancer advocacy group ICanServe Foundation that advocated for early of breast cancer detection and diagnosis, access to timely and quality care, supportive and palliative care, and patient navigation.

A collaboration between the ICanServe Foundation, the local government of Taguig City, local health-care software startup Dashlabs, and Novartis, the Circle of Life Data and Digital Infrastructure project aims to support the Ating Dibdibin program, one of two inaugural winners of the 2022 Alliance and Partnerships for Patient Innovation and Solutions (APPIS) Innovator Program, which supported the development and implementation of the project.

Through Circle of Life, analytics can be generated to help identify gaps in cancer care and enhance its monitoring and evaluation. With available data, local governments are thus empowered to make data-driven decisions and use it to support requests for healthcare-related funding at the local and national levels.

Kara Magsanoc-Alikpala, Founding President of ICanServe Foundation and Vice President for Internal Affairs of Cancer Coalition Philippines, said that by building the Ating Dibdibin data and digital infrastructure in Taguig City, the project’s pilot area, it will generate analytics to help identify gaps in cancer care and enhance monitoring and evaluation. This, in turn, helps empower the local government to make datadriven decisions and use the data to support their request for health care-related funding at the local and national levels.

“I believe with good data we can eventually overcome every barrier to quality and timely care for breast cancer. Data and knowing how to interpret it can help us identify problems, including those challenges that have yet to surface. Data can guide us to design targeted interventions and solutions. Nowadays, it’s a necessary investment in saving lives,” she explained.

For her part, Ruth Kuguru, Region Head, Patient Engagement and Communications, Innovative Medicines Novartis, said the APPIS Innovator Program supports patient organizations across Asia Pacific, Middle East and Africa that have found innovative ways to elevate and amplify patient voices. “It enables patient organizations to grow and scale existing patient programs and take these to the next level to improve health outcomes.”

Meanwhile, Maria Laarni Cayetano, Taguig City Mayor, said the project is a great leap forward in breast cancer response and advancement of healthcare services in the city and the country. “We see the potential for more effectiveness and efficiency heralded by the Circle of Life. As another pioneering project, this will enhance what we already have at Ating Dibdibin. May we continue to integrate systems that would elevate our advocacy and push for quality health care that leaves no one else behind.”

Integrated approach, data and digital

FORMER DOH Secretary Dr. Paulyn Jean Rosell-Ubial also emphasized that an integrated approach through multistakeholder collaboration is key in cancer prevention and control. This is why, she said, the National Integrated Cancer Control Act (NICCA) adopts a whole-of-society, whole-ofgovernment approach.

As a company that provides technology for automation and optimization of laboratory processes and operations, Dashlabs.ai expressed gratitude in being part of the project to help save lives. “We are grateful for the opportunity to contribute to scaling this project up through technology. We hope that we can together uncover insights and improve the lives of Filipinos throughout the country,” according to Bryan Giger, Dashlabs Chief Executive Officer and co-founder.

Finally, Novartis reiterated that going data and digital in the country’s healthcare system will help lower costs for more efficient monitoring of patients for early detection and timely consult at the primary care level, and help reduce late diagnosis that requires specialist care and more advanced diagnostics and treatments. “Disease education can also be more effective based on data and evidence from the system. Novartis aims to collaborate with stakeholders to help reduce the burden of non-communicable diseases such as breast cancer,” according to Christine Fajardo, Communications and Engagement Head, Philippines and Asia Aspiring, Innovative Medicines Novartis.

Multi-sectoral partnership seen as an effective method on cancer prevention and control

Expenses for parents to rethink in 2023

By Elizabeth Ayoola NerdWallet

WHEN inflation rises, child care expenses do, too. If you’re a parent, you may be hoping to get a little financial relief during the upcoming tax season through deductions or credits. But since there have been recent reductions to both of the child tax credits, you may not get as much back as you anticipated.

To help your money go further in 2023, you may want to reevaluate some of your recurring child-related expenses. Here are a few strategies for reducing costs, according to finance professionals.

GROCERIES

IF your snack cupboard is empty within three to five business days because your kids have bottomless bellies, then you may be looking for ways to reduce your grocery bill. This may especially be the case if you’re feeling the effects of higher food costs due to inflation.

One cost-saving strategy is to plan your shopping ahead of time to avoid buying items you don’t need. Dominique Broadway, a personal finance expert and founder of Finances Demystified in Miami, Florida, switched from going to the store to using grocery delivery services so she knows exactly how much she’ll spend. Broadway also recommends putting the same groceries in different delivery service provider carts so you can do a side-by-side comparison of the price difference.

“You’ll be surprised, the difference can be pretty large—sometimes 40, 50 bucks difference just because of delivery fees and the inflated prices. Over time that actually does add up,” she says.

HEALTH CARE

PREMIUMS can become a noticeable expense when you pay them monthly. Adding copays every time you visit the doctor increases your out-of-pocket costs even more.

If you have a relatively healthy child and can say the same for yourself, think about whether a health savings account could save you money. HSAs can be used to pay health care expenses. The limit for HSAs in 2023 is $3,850 for individuals and $7,750 for families. The contributions are made with pre-tax dollars and are also tax-deductible. You must have a high-deductible health insurance plan to contribute to an HSA. High-deductible health plans sometimes have lower premiums, which leads to some people saving money.

Keep in mind that with these plans, you may end up paying a higher deductible before your insurance starts sharing health care costs with you.

I decided to give it a test run in 2022. Since my son

By Lucy (Kathleen) McGoron Wayne State University

IT’S no secret that the Covid-19 pandemic has taken a heavy toll on the mental health of kids and parents alike. In a 2020 survey, 71 percent of parents said they believed the pandemic had hurt their children’s mental health. The American Academy of Pediatrics declared a national emergency in child mental health in October 2021, citing “soaring” rates of child mental health challenges.

In 2022, the Biden administration developed a comprehensive strategy and committed a substantial amount of money, including US$300 million secured through a bipartisan agreement, to a national response to the children’s mental health crisis through multiple sources.

But what is often missing from this national conversation is the importance of recognizing parents’ mental health and the effect that parents’ mental well-being has on that of their children.

Decades of research clearly demonstrate that the mental health of parents and their children are inextricably linked.

As an assistant professor of child and family development whose research focuses on parenting and child mental health, I see too often that the mental health of parents—or other caregivers who act in the role of parents, such as grandparents or foster parents—is overlooked when trying to support children’s mental health. Until that gap is addressed, efforts to address the mental health crisis in kids and teens will likely fall short.

THE PANDEMIC’S TOLL ON PARENTS

THE work of multiple researchers, including my own group, shows that parents reported alarmingly high rates of mental health challenges during the Covid-19 pandemic.

In my own work on the subject, a 2021 study found that 34 percent of parents reported elevated anxiety symptoms, and approximately 28 percent of them

UNSPLASH

and I went to the doctor a handful of times that year, my out-of-pocket costs came to just about $700. The cherry on top is I had $1,500 left over thanks to my employer’s contributions to my HSA account. I can now roll that money over into the new year.

ENTERTAINMENT

THERE were so many toys in my house by the end of 2022 that my son and I gave half away. This year, I’m cutting costs by making better use of free activities.

Oftentimes, parents buy children items, only to realize what they really value is experiences, Broadway says.

“I’ve purchased a $3 activity kit from Target and gotten hours of fun and play with my children out of something like that versus just buying them a bunch

of toys,” she says. “I think that alone is a great way to cut costs and build a better relationship with your children and make more memories with them, as well.”

Speaking of experiences, there is a trampoline park near our house that offers a $20 monthly subscription for endless play. It seems more cost-effective to take my son there than to buy more trucks and excavators I’ll end up tripping over.

If any of these strategies lead to savings this year, Broadway suggests investing the money in a custodial account for child-related future expenses and to help your kids build wealth.

“Take that money and invest it for your children— have it working for you and for them.

Focus on Norwegian children’s literature

BOOK lovers, members of the literary community, the diplomatic corps and Norwegian-Filipino community recently had the rare opportunity to meet acclaimed Norwegian children’s authors Kristin Roskifte and Håkon Øvreås at SM Aura Premier’s Book Nook.

The welcome reception and storytelling sessions at the SM mall’s community library were organized by the Royal Norwegian Embassy in Manila and NORLA (Norwegian Literature Abroad). Norwegian literature for children and young adults is rich and diverse, characterized by imagination, independence and uniqueness. A number of Norway’s acclaimed novelists also write for children, leading to a high literary quality and ensuring young readers have access to many forms of expression.

Young book lovers enjoyed listening to Roskifte read from her latest work, Everybody Counts, an award-winning book about humanity for kids and the youth. The book presents a playful view of the many connections and coincidences in our lives, and how every single one of us has a unique story but we are all part of the same group.

Children were delighted to hear poet and writer Håkon Øvreås’s book reading of Brown (My Alter Ego is a Superhero), his first book in a trilogy for young readers. The book is a charming and powerful tale about friendship, courage, and standing up for one’s self.

The storytelling sessions by Kristin Roskifte and Håkon Øvreås are some of the exciting literary events to look forward to at the Book Nook, located at the third level of SM Aura Premier. The Book Nook is a free library encouraging book lovers of all ages to celebrate the joys of reading and learning, and the spirit of sharing and community.

reported depression symptoms that were at a point of clinical concern.

These rates were similar to other reports, and they suggest that parents had higher levels of mental health needs than before the pandemic. The preponderance of research into the pandemic’s toll on parents’ and children’s mental health took place in 2020 and 2021, so it’s not yet clear whether mental health needs have lessened as the pandemic has waned or not.

PASSING ON THE PAIN

PARENTS’ psychological health is important in its own right, since they often experience stress and need support. But research is also clear that the well-being of parents is closely linked to that of their child. Parents who are experiencing mental health challenges often have children with mental health challenges, and vice versa.

This interplay is complex and varied and includes both genetics and environmental factors such as exposure to stress or trauma. Parents’ well-being directly affects the overall structure and functioning of the home environment, such as following daily routines, and the quality of the relationship between parent and child.

For example, when parents experience depression, they often express more negative emotions—such as anger and irritability—with their children. They are also less consistent in discipline and less engaged in the parent-child relationship.

As a result of these stresses at home, their children may also develop depression as well as other challenges, such as anxiety or behavioral problems. Children of parents with high levels of anxiety are at risk for both anxiety and depression, which themselves are associated with attentiondeficit/hyperactivity disorder. And ADHD is known to be highly hereditary: One study found that approximately 50 percent of children with ADHD also had a parent with ADHD.

Parents’ mental well-being is influenced by the

amount of stress they experience, such as economic difficulties, insufficient child care and competing pressures from work and family. When parents have social support from family, friends, their community or the school system, studies show they are less likely to struggle with anxiety or depression.

TREATMENT FOR PARENTS ALSO HELPS KIDS

THERE are emerging approaches for bringing the treatment of parent and child mental health challenges, including screening for and treating both in pediatric primary care. While this approach to identifying and treating psychiatric conditions is new, studies show it is promising for reducing depression symptoms in both parents and children simultaneously.

When parents are not able to receive effective treatment for their psychiatric conditions because of their busy schedules, inability to afford it, stigma against mental health care or the mental health provider shortage, children are put at risk for mental health challenges too. On the flip side, when parents receive evidence-based mental health care, such as cognitive behavioral therapy, children also benefit.

So often, parents feel they need to take a back seat to what they perceive as the more important needs of their children. But just as when airline flight attendants instruct adults at the start of every flight to put their own safety mask on first, parents should know the importance of prioritizing their own wellbeing to promote the health of their children.

One concrete action that parents can take is to seek out family-based treatments. This may be a challenging process, but talking with their child’s pediatrician about specific referrals for this kind of care can be a good place to start. If those options are not available, parents should ensure that they are involved in their child’s mental health care and incorporate what is learned in treatment into their family’s day-to-day life. They should also seek referrals for their own mental health care as needed.

Faingold (right) and Norwegian Embassy second secretary William Jensen.

Parents had alarmingly high rates of anxiety and depression during the Covid-19 pandemic—and that has a direct effect on kids

PHOTO BY ASHWINI CHAUDHARY(MONTY) ON

THESE young book lovers had front row seats at the live book reading by Norwegian author Kristin Roskifte at SM Aura’s Book Nook.

NORWEGIAN Embassy’s Geir Michaelsen and SM’s Millie Dizon welcome acclaimed Norwegian children’s book authors Kristin Roskifte and Håkon Øvreås to the Book Nook at SM Aura Premier.

ePLDT solidifies cloud competency with three Microsoft PH 2022 Partner Awards

ePLDT Inc. has further solidified its cloud competency after receiving three of the seven Microsoft PH 2022 Partner Awards on December 14, 2022. Recognitions presented to ePLDT are Customer Centricity Award, Tech Intensity Award, and Azure Customer Recruit Award.

“We are honored to receive these awards from Microsoft. ePLDT will remain steadfast in our commitment to providing quality cloud solutions for our customers, and these recognitions are a clear sign that we are on the right track,” said Victor S. Genuino, President and CEO of ePLDT.

Every year, Microsoft recognizes its partners through several awards. The Microsoft PH 2022 Partner Awards were chosen based on three criteria: business performance, innovative use of Microsoft Technology, and subsequent impact delivered to the customers.

The Customer Centricity Award demonstrates ePLDT’s exemplary customer knowledge, demonstrated through comprehensive assessments to create a holistic view of its customers’ strengths and opportunities.

For the third consecutive year, ePLDT was awarded the Tech Intensity Award recognizing its commitment to fostering a culture of innovation through continuous learning and upskilling of their employees.

ePLDT received the Azure Customer Recruit Award for its successful migration of one of its customers in the education sector, resulting in a significant decrease in enrolment time for students.

“We celebrate our partners’ enormous impact on driving digital intensity across industries in the Philippines. It is through them that our mission to empower every person and

organization on the planet to achieve more is driven forward,” said Peter Maquera, Chief Executive Officer of Microsoft Philippines. “ePLDT is a critical partner of ours and we look forward to embarking on many more fruitful years of meaningful collaboration.”

Since 2015, ePLDT and Microsoft have been collaborating to provide customers with cutting-edge cloud-based solutions – from cloud productivity tools and collaboration tools to infrastructure services. With their strong partnership, ePLDT has also been named the Microsoft Country Partner of the Year for 2017 and 2022, and the Number one Microsoft Solutions Provider for SMEs and Microsoft Productivity Competency Gold Partner. ePLDT is also the first in the Philippines to attain Microsoft Solutions Partner for Digital & App Innovation (Azure), Modern Work, and Infrastructure (Azure) under Microsoft’s new Cloud Partner Program.

UPS redefines critical package delivery experience with the launch of UPS Premier in the Philippines

UPS Healthcare (NYSE: UPS) has announced that UPS Premier, its highly-specialized, best-in-class shipping service combining a new level of tracking, prioritization and recovery for patient-critical, time- and temperaturesensitive shipments, is now available to customers in the Philippines.

“Visibility and traceability are essential to prioritizing the life-saving medications our customers ship, and their customers need,” said UPS Healthcare President Wes Wheeler. “The difference between life and death for patients often hinges on the ability to quickly ship and precisely track, monitor and locate medications.”

“Over the past couple of years, UPS Premier has already helped to enable the delivery of hundreds of millions of COVID-19 vaccines around the world with near-perfect on-time delivery. We’re excited to be adding another industry-leading service to the wide range of products and solutions available to UPS

customers in the Philippines,” added Wheeler.

Of the three levels in the UPS Premier service portfolio available globally, UPS Premier Gold is now available in the Philippines. UPS Premier Gold offers acceleration and “first-in first-off” prioritization, and near real-time monitoring made possible through state-of-the-art proprietary mesh sensors built into the package labelling to narrow visibility down to three meters within the UPS network.

Other benefits include an expedited package recovery process that allows the shipper to configure specific handling instructions should an intervention be required, plus capacity for same day redelivery. UPS Premier provides temperature-controlled shipping in environments spanning ambient to frozen, depending on specific shipment requirements.

The entire process is overseen 24/7 by live agents with intimate knowledge of

the shipment’s requirements ensuring medications remain compliant, preventing spoilage and loss of product, and reducing costs associated with reshipments.

“Since we began operating in the Philippines in 1997, UPS customers have come to expect an unsurpassed level of reliability and accountability from the services we provide,” said Russell Reed, managing director of UPS Philippines.

“At the heart of every UPS innovation is customer experience, and this is never more relevant than when we’re delivering for a patient. By combining visibility, traceability, control, recovery and international brokerage prioritization into one service, we’re redefining expectations and what is possible for the critical logistics industry, while taking customer experience to a whole new level.”

In Asia Pacific, the biologics market is estimated to grow at a CAGR of 9.2 percent from 2020 to 2026, accelerated by factors such as the increase in biologics therapy. This growth is mirrored in the Philippines where the pharmaceutical industry is expected to grow up to P216 billion by 2024 as it continues to be an attractive market for pharmaceutical firms. Hence, innovations in biologics, specialty pharmaceuticals, and medications genetically personalised for each patient’s needs are driving significant demand for precision logistics to support more patient-critical, time- and temperaturesensitive products.

Critical healthcare packages that utilise UPS Premier Gold typically include tissue samples, biopsies, implantable medical devices for scheduled surgeries, and personally formulated medications.

For more information on UPS Healthcare’s innovations and customerdriven solutions, visit healthcare.ups.com and about.ups.com.

FAMILY values are deeply etched into our culture as Filipinos. It is considered the foundation of an individual's social life. The bond between a parent and a child can even be considered sacred. It is a relationship that should hold values such as respect, discipline, honor, love, and everything good under the sun.

“Artistic Legacies” presents an intimate look into these artistic families and their artistic journeys, from the catalyst to their continuing legacies. The exhibition proves how art can be an instrument for uniting families and teaching family values.

The exhibition also aims to show the artistic journeys that branched from one generation to the next, highlighting the importance of family. These artworks on display are works that have come from these families that take their art and their family to heart. It is a special bond between them that will stand the test of time and last for generations to come.

Artists who are participating in this show include Ramon Orlina, Anna Orlina and Michael Orlina; Eduardo Castrillo, Mierro Castrillo, Nixxio Castrillo and Ovian Castrillo; Fil Delacruz and Janos Delacruz; Emmanuel Garibay, Alee Garibay, Bam Garibay and Nina Garibay; Raul Lebajo, Gio

413 2581 mobile no: +63 995 7354462 or e-mail them at info@ museo-orlina.org.

WELCOME the Year of the Water Rabbit at Park Inn by Radisson North Edsa! Let the Lunar New Year inspire you to embrace a fresh start. We invite you and your family to celebrate and usher the Year of the Water Rabbit with delightful memories at Park Inn by Radisson North EDSA as we bring you our Lunar New Year Buffet this coming January 21 and 22, 2023.

Head to CASA Urban Table this coming Chinese New Year Weekend and indulge in our Chef’s specially curated Chinese favorites such

as Schezwan Pork, General Tso’s Chicken, Lo Mein, Manchurian Fish, and more for either lunch or dinner for only P1488 nett per person with free-flowing Iced Tea.

Planning to stay in for the weekend? Check out our great room offers starting at P5,200 nett for a Standard Room with Breakfast for Two. Stay two nights, and get a late check-out for up to 8 pm, subject to availability.

For reservations and more information, call (02) 7944-1888 or email reservations. northEDSA@parkinn.com.

VICTOR Genuino, ePLDT President and CEO and Peter Maquera, Country Manager – Microsoft Philippines (Center) are joined by from left, Danielle Lopez, Product Marketing Associate for Cloud & Data Center – ePLDT; Alvin Dalmacio, Senior Partner Development Manager – Microsoft Philippines; Thelma Basobas, Business Development Executive for Cloud – ePLDT; Shaundy Pada, Partner Management Officer – ePLDT; John Gonzales, Chief Commercial Officer – ePLDT; Ronald de Guzman, Chief Cloud & Managed Services Officer – ePLDT; Fides Ricasa, Chief Partner Officer – Microsoft Philippines; Jaz Garcia, Business Development Manager, Cloud Infrastructure – ePLDT; Kate Echavarria, Cloud Product Management Head – ePLDT; Nina Posadas, Marketing and Corporate Communications Head – ePLDT; Arnie Locsin, Sr. Partner Technology Strategist – Microsoft Philippines and Rene Tablante, Director of Specialist Sales – Microsoft Philippines

Museo Orlina to showcase work of artistic families in first major group show for 2023 in Tagaytay City

Lebajo and Nikulas Lebajo.

Opening ceremonies of the exhibition will be held at the Reflections Gallery of Museo Orlina on January 29, 2023, at 3 pm. The exhibition will run until March 31, 2023. For more information, you may call Museo Orlina at tel. no (046)

NEW POPCOM CHIEF Dr. Lisa Grace S. Bersales, Ph.D (right) was sworn into office as the new executive director of the Commission on Population and Development (POPCOM) on Friday, January 13, 2023 by Socioeconomic Planning Secretary Arsenio M. Balisacan at the National Economic and Development Authority head office. Bersales will now concurrently serve as the Undersecretary for Population and development or POPDEV, banking on her expertise as a statistics developmentpartner of the country’s public and private sectors. Bersales brings into POPCOM her deep expertise from almost four decades of academic practice as a researcher and professor at the University of the Philippines, where she was dean and director of its Graduate Studies for the School of Statistics. As the first national statistician, she led the implementation of the Philippine Statistics Act of 2013 by setting up the Philippine Statistics Authority in 2014. Bersales actualized the Public-Private Partnership for the Civil Registration System Information Technology Project-Phase 2 of the Philippines in 2016, and chaired the Philippine Identification System working group that provided inputs to the Philippine Identification System Act enacted in 2018, where she formalized its Implementing Rules and Regulation in the same year. Her most recent significant engagement in the international arena includes being co-chair of the United Nations-Statistical Commission’s Inter-Agency and Expert Group on the Sustainable Development Goals’ indicators from 2015 to 2017, which developed its global framework. Bersales has also written and co-authored numerous publications on demography and economic growth.

Envoys&Expats

France mobilizes €150 million to aid PHL’s climate ambitions

Society of solidarity

By Piotr Arak Director, Polish Economic Institute

ON February 24, 2022, Russian troops entered Ukraine’s territory to start the largest armed struggle in Europe since the Second World War. According to United Nations data, nearly 14 million Ukrainians were forced to leave their homes, and almost 8 million have fled their country: mainly women, children and old people.

The formal exchange of related documents took place on December 29, 2022.

The AFD and the Asian Development Bank support the Philippines’s ambitions to amplify its climate action with a combined policy-based loan equal to €390 million, including €150 million mobilized by the former, in addition to the $250-million credit from ADB signed on June 1, 2022. Such will seek to bolster the country’s achievement of its nationally determined contribution (NDC), as well as efforts to transform vulnerable sectors into resilient, lowcarbon economies.

“France remains, more than ever, engaged in a race against time for the preservation of our planet, and the fight against the climate crisis that becomes a concrete and devastating reality in the Philippines,” said Ambassador Michèle Boccoz. “In this fight for justice and solidarity,

France is taking its full part. It will devote €6 billion each year, until 2025, to help developing countries, including the Philippines, finance their transition, and cope with climate disasters.”

According to the French Embassy, the new program is an example of the parties’ joint commitment. More specific, it will support public reforms aimed at setting up planning and financing systems to strengthen climate action, boost the resilience of populations to climate change’s growing impacts, as well as reduce greenhouse-gas emissions by deploying renewable energies, improving energy efficiency, and deploying sustainable transport.

“As a country vulnerable to climate change impacts…the Philippines is committed to concrete climate actions, with the [goal of helping the most vulnerable reverse the negative] effects,” shared finance

chief Benjamin Diokno. “Considerable efforts will be made to allocate around 8.72 percent of the 2023 budget for programs related to climatechange mitigation and adaptation to meet its own NDC targets without sacrificing the need for developing.”

“Since the Paris Agreement the AFD Group has provided €30 billion in climate finance, including €7 billion for adaptation,” said AFD Country Director Bénédicte Gazon. “In the Philippines, climate action is at the heart of [our] activities. This new loan program follows a [prior €250-million adaptation program loan mobilized at the end of 2021 to reduce risks] of natural disasters

at the local level.”

The embassy disclosed that the Philippines is one of the most vulnerable countries to climate change, which is ranked fourth as the most affected by extreme weather events between 2000 and 2019. In addition to their direct impacts on people, it said the economic consequences of these disasters will cost the country more than $3.5 billion a year by 2040.

While the local economy struggles to recover post-pandemic, the Philippines has adopted a key climateaction scheme moving to adaptation and mitigation when the country forwarded its first NDC in the 2021 Conference of the Parties, or COP 26.

USAID launches 5-year program to quicken MSMEs’ digitalization

Eighty years ago, one such woman was my grandmother. Together with her sister, she decided to settle in Poland for good, rather than go back to a Ukraine controlled by barbarians. For me and for many other Poles, the ongoing war is not only an act of aggression against a neighbor, but also against us.

Since the onslaught the PolishUkrainian border has been crossed by over 7.4 million refugees. Given that about 5.6 million have moved to the opposite direction, roughly 2 million refugees have stayed in Poland. Together with the previous wave of Ukrainian migrants triggered by the Donbas War in 2014, the total number living in Poland is about 3.5 million.

Almost every Pole got involved in helping Ukrainian refuge-seekers. The spontaneous response of the Polish society exceeded all expectations, as 70 percent of adult Poles joined in the effort to help the refugees. People offered their rooms, or even entire flats. With 7 percent of Poles doing so, several hundredthousand families were housed in private homes, rather than placed in camps, as was the case during similar crises.

Some 59 percent of Poles bought essentials, and 53 percent contributed to raise money for refugees. They spent up to €2 billion to support Ukrainians fleeing the war in the first three months, according to the Polish Economic Institute.

Cash benefits, health aid, education THANKS to changes in Polish legislation, Ukrainians may be granted the PESEL (Powszechny Elektroniczny System Ewidencji Ludności, or the Universal Electronic Population Registration System) identification number like every Polish citizen. This allows them to legally stay in Poland for 18 months. They have the right to set up a “trusted profile:” a digital identity that they can use to obtain various social benefits, including the universal family benefit of about €120 per child.

The wave of refugees caused by the war is mainly made up of women. Over 60 percent of them came with their children, so they need to secure a place in a school or nursery before they can look for a job.

Ukrainian refuge-seekers are entitled to payments such as family, child-rearing, start-of-school and career benefits amounting to as much as €2,600. To help take care of children, municipalities have fasttracked procedures to open more nurseries, as many public institutions have been transformed into

temporary sleeping facilities. Refugees were also granted a one-off payment of €80 per person.

In addition, Ukrainians fleeing war were given access to free psychological support, food aid and health care. Already experienced in remote teaching, schools knew ways to quickly reorganize their work and admit 200,000 extra students from Ukraine—including nearly 20,000 in Warsaw alone. Rules for hiring teachers have been eased to employ Ukrainian speakers from among refugees. Besides learning in Polish schools in the Polish language, Ukrainian kids also attended Ukrainian schools remotely.

Easier recruitment

POLAND also liberalized the legislation on the employment of Ukrainians. When recruiting a person from Ukraine, it is now enough to inform the relevant labor office within seven days.

Ukrainians may take up and carry out business activity in Poland on the same terms as Polish citizens. The new rules have applied to more than 450,000 new employees. With about 600,000 working-age Ukrainian refugees registered in Poland, this means that some 60 percent have found a job.

On top of that, Ukrainians have set up over 10,000 firms, which account for almost one in every 10 newly registered businesses. It is unprecedented too that Poles are similarly free to take up employment in Ukraine. This will be very useful once the process of rebuilding Ukraine has started, even without a peace agreement.

The Organisation for Economic Co-operation and Development estimated that, in 2022, Poland would have support war refugees from Ukraine to the tune of €8.4 billion—the highest such amount among OECD-member countries (total OECD expenditure being estimated at €26.8 billion). This is followed by Germany (€6.8 billion), and the Czech Republic (€2 billion).

The solidarity demonstrated by Poli sh society is amazing. The Polish and Ukrainian nations have always had a lot in common, even though our shared history also included some dark episodes. There are many Poles who could recount family histories similar to mine, or who remember the crimes committed by Ukrainian radicals in Volhynia during the last world war.

Today all that is in the past. It goes without saying that we must help our neighbors in need. We will still do so until they can return to their homes safely.

THE Philippines and the United States have launched a five-year program that will boost digitalization among local small and medium enterprises (SMEs).

US Agency for International Development (USAID)-backed “Strengthening Private Enterprise for the Digital Economy (SPEED)” aims to assist SMEs by helping them innovate and adopt safe, reliable and affordable digitaltechnology solutions.

SPEED also enjoins the private sector, especially financialtechnology firms, to expand the use of e-payment systems. It also aims to improve the integration of e-commerce platforms in the

logistics supply chain.

During the launch, Trade Secretary Alfredo Pascual said the USAID program will support the agency’s goal of scaling micro, small and medium enterprises (MSMEs) by helping them hurdle the constraints in accessing technology.

“Digitalized MSMEs can operate more efficiently, reduce costs, reach bigger markets, and earn more profits,” Pascual noted.

The secretary added that the Department of Trade and Industry (DTI) has been rolling out programs to support MSMEs’ digitalization, such as introducing the e-commerce roadmap and working with the Department of

Information and Communications Technology in building a free e-commerce platform, among others.

DTI is also implementing the “Big Brother-Small Brother” project that digitalize supply chains, including SMEs, with Nueva Vizcaya Agricultural Terminal Inc. as a pilot site to roll out the end-toend e-commerce platform.

In the same event Bangko Sentral ng Pilipinas governor Felipe Medalla said the SPEED program will complement the central bank’s initiatives to facilitate MSMEs’ adoption of digital payments and financial services.

“The success of SPEED has the potential to promote a more in-

clusive digital economy toward, as we [learned] from the pandemic, a more resilient Philippine economy that [fosters] a higher quality of life for many…Filipinos,” Medalla added.

Ambassador MaryKay Carlson believes the USAID-led program will help create a robust digital economy in the country.

“I ask everyone today to work together with us, with this vision to realize digital technology that increases productivity, encourages innovation, promotes inclusive growth, catalyzes economic development, creates job opportunities, and empowers all—including and, especially, the most vulnerable,” Carlson said. Kris Crismundo/PNA

THE British Embassy-Manila and Department of Energy (DOE), in collaboration with the Asian Development Bank, South East Asia Energy Transition Partnership and the United States Agency for International Development, hosted the second Energy Transition Council (ETC) National Dialogue.

The Philippines is one of the participating countries of the ETC: an initiative launched in 2020 as part of the United Kingdom’s Conference of the Parties (COP) 26 presidency.

The council provides a platform for solutions-based discussions and coordination among countries that require support for their energy transition, and with major international donors

and institutions that offer assistance.

Since the first National Dialogue in March 2021, donor support for six priority technical-assistance projects relating to ancillary services, energy labeling, ocean and thermal energy, smart grid and energy-storage system, and offshore wind were mobilized via the Rapid Response Facility: ETC’s TA coordination mechanism.

The 2022 National Dialogue focused on the country’s policy direction and priority investments in clean energy and emerging technologies such as offshore wind, hydrogen and energy-storage systems aligned with the administration’s push for increased use of indigenous and renewable energy sources.

UK, DoE, partners hold 2nd national dialog on Energy Transition Council

AMBASSADOR MaryKay Carlson (center) and USAID Mission Director Ryan Washburn (third from right), with BSP

Governor Felipe Medalla (fourth from left) and Trade Secretary Alfredo Pascual (fourth from right) US EMBASSY

FINANCE Secretary Benjamin Diokno (left) and Ambassador Michèle Boccoz (right) FRENCH EMBASSY

ARAK

THE Finance Department and the French Development Agency (AFD) have activated a policybased loan to help the Philippines scaleup efforts in mitigating and adapting to climate change.

NADAL OUT DOWN UNDER

BusinessMirror

Brownlee embarks on next mission: Help power Gilas in FIBA qualifiers

Nadal bowed his head during changeovers and rested his elbows on his knees, the very picture of resignation.

W hat already was a poor start to 2023, following a year marred by all manner of health issues, reached a low point at the Australian Open on Wednesday.

The defending champion and No. 1 seed at Melbourne Park, Nadal injured his left hip and lost to Mackenzie McDonald, 6-4, 6-4, 7-5, in the second round, abruptly ending his bid for a record-extending 23rd Grand Slam trophy.

“ It’s a tough moment. It’s a tough day,” said Nadal, a 36-year-old Spaniard. “I can’t say that I am not destroyed mentally at this moment, because I would be lying.”

He pulled up awkwardly at the end of a point late in the second set against the 65th-ranked McDonald.

Nadal was visited by a trainer on the sideline, then left the court for a medical timeout. Up in the stands, his wife wiped away tears. Nadal returned to play, but was clearly compromised and not his usual indefatigable self, saying afterward that he could not hit his backhand properly and could not run much, either.

But Nadal added that, as the reigning champion of the tournament, he did not want to leave the court via a mid-match retirement.

He said the hip had been bothering him for a couple of days, but it was never as bad as it became on Wednesday. Nadal was not sure exactly what the nature of the injury was, saying that he will have medical tests to determine if it has to do with a muscle, joint or cartilage.

‘It’s never over until it’s over’ type thing. He didn’t even want to roll over and quit. He kept fighting until basically the end, even though he maybe didn’t have all his game,” said McDonald, a 27-year-old American who won NCAA championships in

Malixi makes amazing rally in ‘Annika’ tilt

RIANNE MALIXI bucked an early mishap with a barrage of birdies to score a tournamentbest eight-under 65 and rally from way back for tie for sixth place in the Annika Invitational topped by American Ashleen Kaur in Orlando, Florida, Tuesday.

Birdies, which proved elusive in the first two days, came like rain in the final round for the rising Filipina star, who rattled off nine, highlighted by a couple of three-birdie binges on Nos. 7 and 12, leading to a 33-32 round and besting the previous tournament-best of 66s posted by Kaur and erstwhile leader Alice Zhao at the par-73 Eagle Creek course Monday.

From tied 26th, the International Container Terminal Services Inc.backed ace, who shot seven birdies against four bogeys and a double bogey in the first two rounds (72-73), bogeyed No. 3 but birdied four of the next six holes then dominated the backside with five more birdies as she salvaged a share of sixth place with Nika Ito (67) and Kiara Romero (70) at nine-under 210.

S he wound up six strokes behind Kaur but her strong finish underscored the promise that the 15-year-old prodigy packs heading to her next campaign—the Queen Sirikit Invitational back home at Manila Southwoods next month.

singles and doubles for UCLA in 2016.

I was in the locker room,” McDonald said about the aftermath of the match, “and I was like, ‘Hey, that’s actually really big for me, because I haven’t beaten someone of that caliber.’”

Th is is Nadal’s earliest exit at any Grand Slam tournament since bowing out in the first round in Melbourne in 2016 against No. 45 Fernando Verdasco. That also made Verdasco the lowest-ranked player to defeat Nadal in Australia — until, of course, McDonald on Wednesday.

McDonald has never been past the fourth round at a major tournament. In his lone previous matchup against Nadal, at the 2020 French Open, McDonald won a total of just four games in a lopsided loss.

He kicked my butt,” McDonald recalled Wednesday.

Th is result overshadowed everything else going on in Melbourne, of course, on a day that persistent rain pushed back the start of play on all but the three courts with retractable roofs until after 5 p.m. local time.

Th at meant some players — most notably, No. 1 Iga Swiatek, No. 3 Jessica Pegula and No. 6 Maria

that put them in the third round before more than a dozen others even had contested a single point in the first round.

At night, 2022 French Open runner-up Coco Gauff got past 2021 U.S. Open champion Emma Raducanu 6-3, 7-6 (4) in a secondround meeting between two of the sports young stars.

Men joining McDonald in the third round included fellow American Frances Tiafoe, who is seeded 16th, and No. 15 Jannik Sinner of Italy.

I told him, ‘You’re going to be in a position to win today. You can win today,” Tiafoe said about McDonald.

“Sort of seeing how he feels, I’m happy for Mackie. ’GOAT wins’ don’t come easy. Something to tell his grandkids one day, and you have to be happy for that guy.”

A year ago, Nadal won the Australian Open for the second time to earn his 21st major championship, then raised his total to 22—the most for a man—at Roland Garros.

H e is currently ranked No. 2 but was the top seed at Melbourne Park because No. 1 Carlos Alcaraz is sitting out the Australian Open with a bad leg.

Nadal’s body has betrayed him quite a bit recently. AP

JUSTIN BROWNLEE has now set his sights on his next mission to help power the national men’s team on the global stage after accomplishing his mission with Barangay Ginebra San Miguel in the Philippine Basketball Association (PBA) on Sunday night.

Brownlee sets off as a key member of Gilas Pilipinas for the sixth and final window of the International Basketball Federation World Cup Asian Qualifiers next month.

A d ay after he and the Gin Kings

POC MEETS PSC IN FELLOWSHIP DINNER

Philippine Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino (second from right) lead a fellowship-cum-working dinner among members of the POC Executive Board and the Philippine Sports Commission (PSC) board led by Chairman Richard “Dickie” Bachmann (center) at the Barcino of the Maison Mall at the Conrad Hotel in Pasay City on Wednesday. Primary on the menu is the Cambodia 32nd Southeast Asian Games. Also in photo are POC auditor and Team Philippines chef de mission to the Cambodia SEA Games Chito Loyzaga and board member Charlie Ho, PSC commissioner Walter Torres, POC board member Dave Carter, PSC commissioner Olivia “Bong” Coo, POC treasurer Cynthia CarrionNorton, chairman Steve Hontiveros, secretarygeneral Atty. Edwin Gastanes and Athletics Commission head Nikko Huelgas.

wrapped up the PBA Commissioner’s Cup in Game 7 of their Finals against the Hong Kong Bay Area Dragons, Brownlee completed the first of three remaining tasks leading to his naturalization Monday by taking his oath of allegiance as a Filipino citizen at the Philippine Senate in Pasay City.

Two more steps remain for Brownlee for him to be able to exercise all the rights and privileges of a Filipino citizen and be eligible to play as one for Gilas Pilipinas—secure a certification of naturalization from the Bureau of Immigration and Deportation and acquire a Philippine passport from the Department of Foreign Affairs.

B oth documents are expected to be secured in the next few days.

A fter hurdling the mandatory process of naturalization in the House of Representatives and the Senate, with President Ferdinand “Bongbong” Marcos signing into law the legislative measure known as Republic Act No. 11937, Brownlee was sworn in by Senator Francis Tolentino, chairman of the Senate Committee on Justice and Human Rights, in the presence of fellow Senators Christopher “Bong” Go and JV Ejercito, and Rep. Juliet Marie de Leon Ferrer, chairman of the House of Representatives Committee on Justice.

A ccompanying Brownlee—who is set to banner Gilas against Lebanon on February 24 and Jordan on February 27, both at the Philippine Arena—were Samahang Basketbol ng Pilipinas Executive Director Sonny Barrios, Deputy Executive Director Butch Antonio and legal counsel Edgar Francisco.

As a citizen, I will try my best to make the Filipino people proud. I want to keep making you guys proud and to do whatever I can to help the national team,” Brownlee said during the oath-taking ceremony, which was packed by TV station crew and media lasted nearly two hours.

“ I feel great and I’m pretty excited to be representing the country,” Brownlee, in a traditional Barong Tagalog and dark pants and shoes, said just before the swearing-in.

Strong Group slowly getting there–Tiu

STRONG Group head coach Charles Tiu is already pleased with what he’s been seeing so far from his team as it gears up for the Dubai 2023 International Championship.

W ith only a week left before the tournament starts on January 27, Tiu and his crew, a perfect blend of veterans and young explosive players, are racing against time in their bid to keep the country’s dominance in the tournament.

Strong Group, owned by Jacob Lao and backed by Mighty Sports and Acrocity Guiguinto, has been drawn in Group A of the tournament joining the United Arab Emirates national team, Al-Wahda from Syria, Dynamo from Lebanon and Al Nasr from Libya.

clear cut leader as always. They’re slowly getting in shape too. So that’s a good sign,” said Tiu, who happily revealed that even the 22-year-old team owner has been joining the team’s practice.

Some of the players have already given quite an impression for Tiu, particularly, Jerom Lastimosa and BJ Andrade who both immediately strutted their wares in practice along with fellow young guns Ange Kouame, Will Gozum, Justine Baltazar, Francis Lopez, Inand Fornillos, JD Cagulangan and Filipino-American guard Sedrick Barefield.

But Kaur took the spotlight in a day of changing fortunes, snatching the crown with a stirring closing eagle feat for a 69 and edging Zhao by one on a 204 total.

The Chinese, who seized the solo control with a second round 66, firmed up her lead with a solid frontside 33 but bogeys on Nos. 10 and 14, which Kaur birdied, enabled the latter to snatch the lead.

Z hao, however, proved far from being finished, birdying the par-five 16th to tie. After the pair traded bogeys under tremendous pressure on the par-three 17th, Kaur came through with a pair of solid shots to set up an eagle bid which she made, frustrating the former, who lost despite a closing birdie for a 71.

The young Tiu was elated to see the team slowly take its form with the players shaking off cobwebs and the veterans also readily taking the leadership role.

“ Team chemistry is slowly picking up. (Renaldo) Balkman has been our

Even former National Basketball Association star Nick Young, who is housed at the Discovery Primea, is enjoying his first trip in Manila and looking comfortable with the team’s young guns.

Nick was also impressed,” added Tiu. “Man, Jerom Lastimosa is really good. Best point guard in college for sure. He’s so much better

than I thought.”

Bj Andrade also has impressed me, great teammate, does a lot of the little things apart from being a great shooter. It’s no wonder Ateneo won all those championships,” he added.

‘Kingpin’ slays ‘Fire Dragon’ in Sharks 10-ball duel

BASETH “KINGPIN” MOCAIBAT

demolished Chang “Fire Dragon”

Jung-lin of Chinese Taipei to reign supreme in the Sharks One-on-One Race to 63 10-Ball  Championship held recently at the state-of-the art Sharks Billiards and Pool Arena in Quezon City.

A prized find from Dasmariñas City, Mocaibat was in control early

in of the grueling three-stage duel to foil the Taiwanese. He erected a 21-6 advantage in the first phase.

C hang failed to catch fire in the second stage as Mocaibat widened his lead to 42-24 to zero in on the trophy of the tournament organized by Sharks Billiards League supervised by tournament director Hadley Mariano

and supported by Bugsy Promotion, Hardtimes Sports Bar, Andy Billiards Cloth and Billiards Managers and Ayers Association of the Philippines.

B aseth masterfully kept his Taiwanese opponent at bay in the final phase to snatch the win, 63-39, in the tournament sanctioned by the Games and Amusement Board.

Representing Ginebra, of course, is a huge thing; it’s a big deal as far as basketball is concerned over here in the Philippines,” he said. “But representing the country is an even bigger deal. That’s why in that series (against Bay Area), it felt like we were representing the whole country.”

Plans to visit his family in the United States are on hold for Brownlee, with the PBA season-ending Govenors’ Cup kicking off on January 22 at the PhilSports Arena and national coach Chot Reyes about to start Gilas Pilipinas’ once-a-week practice on Monday.

“ I don’t think I have any time,” he said. “Maybe if we have time, I would have.”

Tolentino said he is honored to have played an instrumental part in the naturalization effort.

I join the millions of Filipino basketball fans in having the great honor of embracing Justin Brownlee as a Filipino citizen,” Tolentino said. “Not only does his character exemplify the need for hard work, dedication and discipline and are being highlighted to the youth today, what’s more important is that Justin Brownlee’s place in Philippine sports will be further fortified and solidified with his Filipino citizenship.”

Ferrer, who shepherded the bill in Congress and pinned the Philippine flag on Brownlee’s collar, said she held no reservations in throwing her support behind the legislative measure when it was raised in the House

It is great to have Justin as one of us now,” the representative of the Fourth District of Negros Occidental said. “He’ll be representing the country so it will be our pride. I was very honored to be the sponsor of the naturalization bill. He’s a very nice person and so I had no second thoughts when I met him.”

MELBOURNE, Australia—Rafael

JUSTIN BROWNLEE with Samahang Basketbol ng Pilipinas (SBP) Deputy Executive Director Butch Antonio, Senator Francis “Tol” Tolentino, Rep. Juliet Marie de Leon Ferrer, Senator JV Ejercito and SBP Executive Director Sonny Barrios.

CHARLES TIU is honing his team to near perfection.

RIANNE MALIXI holds her trophy with golf legend and Swede Hall of Famer Annika Sorenstam.

WHAT already was a poor start to 2023 for Rafael Nadal, following a year marred by all manner of health issues, reached a low point at the