BusinessMirror July 02, 2020

Pagcor misses ₧34-B H1 goal by 47%

By Bernadette D. Nicolas

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TATE-RUN Philippine Amusement and Gaming Corp. (Pagcor) missed by 47 percent its gross revenue target of about P34 billion for the first half of the year. It only drew in P18 billion during the period as the Covid-induced lockdown prompted it to suspend the operations of Philippine Offshore Gaming Operators (POGOs), as well as casinos and gaming stations.

Pagcor Chairman Andrea Domingo told the BusinessMirror their gross revenue as of end-June also suffered a 48-percent drop compared to about P34.6 billion in the same period last year.

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“[Our gross revenue for the period is] about P18 billion, lower by 47 percent of our original target and lower by 48 percent compared to last year’s real income for the same period. Please take note that this figure includes the revenues earned from January 1 to March 15, 2020, when we were still in full operation,” Domingo said in a message.

Pagcor earlier said it expects to lose P5 billion to P6 billion monthly from the suspension of operations of POGOs, casinos and gaming stations following the lockdown which started mid-March.

It was only in May that the government allowed the partial

resumption of POGOs in a bid to raise some revenues while several parts of the country remained under lockdown due to the pandemic.

Prior to the Covid-19 pandemic, Pagcor was targeting to earn P85 billion in gross gaming revenues.

However, it was recently reported that two POGOs—SC World Development Group Ltd., a unit of Macau’s gambling giant SunCity Group, and Don Tencess Asian Services Solutions Inc.—have signified their intention to exit the country, and officially asked for cancellation of their offshore gaming licenses.

Aside from them, 13 other service providers were also reported

to have also closed down their operations and more will likely follow suit due to stringent tax rules from the BIR and the impact of movement restrictions amid the Covid-19 pandemic, according to Pagcor.

Meanwhile, Domingo has also since appealed to the government to allow the gradual reopening of casinos.

But when asked if the staterun firm has renewed its appeal for the government on the resumption of casinos given the reduced gross revenue of Pagcor for the first half of the period due to the lockdown, Domingo said: “We will just follow their guidelines.”

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PHL GETS P23.5-B LOAN FROM JAPAN FOR COVID www.businessmirror.com.ph

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Thursday, July 2, 2020 Vol. 15 No. 266

P25.00 nationwide | 2 sections 16 pages | 7 DAYS A WEEK

PHL’S END-MAY G.I.R. HITS $93.3B, HIGHEST EVER ON RECORD

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FOREIGN Affairs Secretary Teodoro L. Locsin Jr. (left) and Japanese Ambassador Haneda Koji (right) sign diplomatic notes on the loan assistance package extended by Tokyo to support Manila’s response to Covid-19. Japan Foreign Minister Motegi Toshimitsu had personally affirmed to Locsin, in their telephone discussion on May 22, Japan’s commitment to extend this assistance. After the Exchange of Notes, Finance Secretary Carlos G. Dominguez III and Jica Chief Representative Eigo Azukizawa signed the ¥50-billion (P23.5 billion) Covid-19 Crisis Response Emergency Support Loan at the Department of Finance Building in Manila. DFA PHOTO BY NILO K. PALAYA

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By Bernadette D. Nicolas

HE Philippines and Japan signed on Wednesday a “highly concessional” ¥50-billion loan (P23.54 billion) that aims to help the government in its war against the Covid-19 pandemic and provide economic relief to Filipinos most affected by the health crisis.

Finance Secretary Carlos G. Dominguez III and Japan International Cooperation Agency (Jica) inked the agreement for the Covid-19 Crisis Response Emergency Support Loan (CCRESL).

The Philippines is also the first recipient country of the new facility designed by the Japanese government to help developing countries globally in augmenting their Covid-19 response program and stimulating economic activity.

Dominguez told reporters that

the loan will essentially cover part of the drop in state revenues at a time that the government is ramping up its spending for its response against the pandemic.

“There’s no specific item here, but again it will support government operations, such as the hiring of the contact tracers, increasing the number of testing centers we have. You know, we went from one testing center in March, I think we now have 72

HE Bangko Sentral ng Pilipinas (BSP) reported on Wednesday that the Philippines’ dollar reserves climbed to its all-time high in end-May despite economic disruptions caused by the pandemic.

In a statement, BSP Governor Benjamin Diokno said the country’s gross international reserves (GIR) hit $93.3 billion as of endMay this year, the highest GIR on record for the country.

The country’s GIR is the level of foreign-exchange holdings the Central Bank has during a given period. The GIR is a crucial component of the economy as it is often used to manage the country’s foreign-exchange rate against excess volatility and an important line of defense against an economic rundown.

At its current level, the country’s GIR represents an “ample external liquidity buffer,” which is now equivalent to 8.4 months’ worth of the Philippines’ imports of goods and payments of services and primary income, the BSP said. It is also about 7 times the country’s short-term external debt based on original maturity and 4.6 times based on residual maturity.

The country’s GIR managed to hit a strong run in May due to the billions in surplus in the country’s Balance of Payments (BOP).

The BOP represents the total transactions of the country’s residents with the rest of the world for a given period. A surplus means the country earned more dollars compared to what it has spent, while a deficit means spending overtook dollar earnings during the period.

In May, the Philippines’ BOP hit a surplus of $2.63 billion, about 2.6 times higher than the $928-million BOP surplus recorded in the same month last year.

According to the Central Bank, the BOP surplus in May 2020 reflected mainly the inflows arising from the national government’s foreign currency deposits with the BSP as well as the BSP’s foreignexchange operations and income from its investments abroad.

The BOP surplus could have been higher, the BSP noted, if not partially offset by the foreign currency withdrawals made by the national government to pay its foreign currency debt obligations during the month.

The May surplus brought the total five-month BOP surplus of the country to $4.03 billion in May, lower than the $5.19-billion surplus seen a year ago.

Continued on A2

Naia problem: Bottom line, not name T

HE Ninoy Aquino International Airport (Naia), the country’s main gateway which proadministration congressmen want renamed, may soon be known as the “Need Assistance International Airport” due to pandemic restrictions, Senate President Pro Tempore Ralph Recto warned Wednesday.

Recto reminded the government that Naia’s immediate problem is not its signage, but its bottom line, noting that the Cov-

id-forced travel lockdown is seen to plunge its 2020 revenues by as much as P10 billion.

Recto said the amount is barely enough for the country’s gateway “to keep payroll and the lights on.”

In a statement, the Senate President Pro Tempore pointed out that “Naia is a corporation, deriving its income from what its users pay, be they airlines or passengers.”

Recto warned that “the disappearance of these customers will severely impact its financials,” not-

PESO EXCHANGE RATES n US 49.7900

ing that on a forecast 3-percent increase in passenger traffic, the four-terminal airport was projecting a gross revenue of P15.43 billion this year.

But if the pandemic-imposed air travel restrictions will continue, he estimates “a 60-percent cut on income will bring down its gross revenues to P6.05 billion, and to P4.53 billion if it will be a deeper 70-percent reduction.”

Recto added in a mix of English and Filipino: “[The] real pay-

roll of Naia is at least P3.3 billion a year, to include contracted services like security and others. Then we still have to pay for water and power, at about P1.5 billion,” citing the corporate operating budget of the Manila International Airport Authority (Miaa) for FY 2020.

The Naia, he warned, “may have to dig into its reserves” if it relies on its current income to cover payroll and utility bills, adding: “If these will be drawn from just See “Naia,” A2

PASSENGERS at the Ninoy Aquino International Airport Terminal 1 get constant reminders from airport employees to observe physical distancing and to minimize contact at all times within the airport premises, from check-in to boarding, while inflight and during disembarking. NONIE REYES

n JAPAN 0.4613 n UK 61.7496 n HK 6.4242 n CHINA 7.0474 n SINGAPORE 35.7302 n AUSTRALIA 34.3551 n EU 55.9341 n SAUDI ARABIA 13.2752

Source: BSP (July 1, 2020)

News BusinessMirror

A2 Thursday, July 2, 2020

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PHL manufacturing sector edges toward growth territory anew

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HE Philippine manufacturing sector is at the cusp of stepping back into growth territory again after the steep contraction it incurred in the widespread disruptions caused by the ongoing global pandemic.

In a report on Wednesday, IHS Markit said the Philippines’ Purchasing Manager’s Index (PMI) climbed to 49.7 in June from 40.1 in May. According to the think tank, the latest reading was the highest since February, and signalled a further movement toward stabilization in the Filipino goodsproducing sector.

The PMI is a composite index aimed to gauge the health of the country’s manufacturing sector. It is calculated as a weighted average of five individual subcomponents.

Readings below 50 show deterioration in the industry, while readings above the 50 threshold signal a growth in the manufacturing sector.

IHS Markit economist David

Owen said much of the recovery stemmed from the government’s decision to shift to more relaxed rules.

Owen also said production is now being raised for the first time since before the lockdown, marking a milestone in the reopening of the sector.

“The overall demand picture also notably improved, with new orders at manufacturers still falling but at a greatly reduced speed compared to May. Firms commented that new work remained weak due to the pandemic and ongoing restrictions; however, many panelists did see a pick-up in demand and rising customer orders. In addition, new orders from overseas fell at the softest rate in four months, helped by relaxed

PEOPLE have their temperatures checked before boarding a bus on June 1, 2020, in Manila, as it shifts to a more relaxed quarantine with limited public transport in a high-stakes gamble to slowly reopen the economy while fighting the coronavirus outbreak. AP/AARON FAVILA

measures both domestically and abroad,” the report read.

However, Owen warned that many manufacturing firms still remained closed or operated at much lower capacity, suggesting that parts of the sector have some way to go to restore production to pre-pandemic levels. He said firms also have noticeably “held back” from hiring as a result of weak demand, as such, employment numbers dropped at the steepest rate since March.

“The sharper decline in workforces suggests that manufacturers may need to see a strong rebound in goods demand before job levels can expand. Signs from new orders and export orders data are encouraging, but the recovery may still be gradual as the pandemic continues and even accelerates in some regions,” Owen said.

In Southeast Asia, the Philippines ranked third out of seven being monitored by the think tank

for PMI. The Philippine manufacturing sector also performed above the regional average of 43.7.

Vietnam led the pack in June, with a PMI of 51.1 followed by Malaysia at 51.0 during the month.

Vietnam and Malaysia are the only two countries that climbed back to growth territory during the month.

Performing just below the Philippines’ PMI is Myanmar’s 48.7, Thailand’s 43.5, Indonesia’s 39.1 and Singapore’s 38.8.

Puerto’s top cop charged over DENR team’s arrest M

ULTIPLE criminal and administrative charges were filed against relieved Puerto Princesa Police Director Col. Marion Balonglong in connection with the illegal arrest and maltreatment of eight employees of the Department of Environment and Natural Resources (DENR) and two others on June 10.

In a news release, the DENR said criminal cases were filed before the Office of the Ombudsman for torture, unlawful arrest, slight physical injuries, obstruction of apprehension and prosecution of criminal offenders, and graft and corruption.

Administrative charges filed against him include grave misconduct, grave abuse of authority, and conduct prejudicial to the best interest of the service in violation of Republic Act 6317 or the Code of

Conduct and Ethical Standards for Public Officials and Employees.

In an 18-page complaint filed with the Ombudsman on June 21, the complainants said Balonglong should also be held accountable for breaking the guidelines and protocols for social distancing during a state of emergency because of the Covid-19 pandemic.

In the complaint, the DENR provided full details of the illegal arrest and maltreatment suffered at the hands of Balonglong by eight workers assigned at the Community Environment and Natural Resources Office in Puerto Princesa.

The complaint alleged that the eight DENR employees—three foresters, four forest rangers and one forest protection officer—were conducting a follow-up investigation in a mangrove area at Sitio Bu-

cana of Barangay Iwahig-Matahimik when they were rounded up by a group of policemen “in full battle gear” led by Balonglong.

The investigation was in connection with an earlier discovery on June 7 of illegal occupation and massive mangrove cutting in the area where the DENR team seized some 73 pieces of cut mangrove trees, one galvanized iron sheet and four drum containers.

Forest Ranger Roldan Alvarez, one of the members of the DENR investigating team, identified Balonglong as the one who “repeatedly kicked and stomped” on him at gunpoint while they were being subjected to full body search and ordered to lie down on the ground.

At one point, Balonglong allegedly stepped on the head of Alvarez while wearing his combat boots,

according to the complaint.

Despite identifying themselves and their official mission to Balonglong, the DENR team was then brought to the site which they investigated on June 7, and there Alvarez was made to kneel for almost an hour while the rest of the team was ordered to sit in one corner.

The DENR team was later transported to the police station aboard three PNP vehicles while Alvarez was placed aboard a separate white van with Balonglong and three other police officers.

On their way to the police station, Balonglong allegedly put a transparent cellophane on the head of Alvarez and gradually pulled it until the latter found it difficult to breathe.

Allegedly, this was to force Al-

varez to admit possession of some construction materials, which Balonglong claimed to be missing from the mangrove area.

The DENR workers were released following a long dialogue between Balonglong and CENR Officer Felizardo Cayatoc, who was made to sign a document stating that the workers were in good mental and physical condition when they were turned over to him.

While hoping that the isolated incident would not affect the harmonious relationship of the DENR and the Philippine National Police in enforcing environmental laws, an enraged DENR Secretary Roy A. Cimatu called for a swift resolution of the case that prompted the DILG to immediately cause Balonglong’s relief from his post as a preventive measure. Jonathan L. Mayuga

PHL gets ₧23.5-B loan from Japan for Covid Continued from A1

testing centers. So, and you know these things are not cheap. And it will continue to support our anti-Covid operations, as well as cover also normal government operations, and the projects that we are planning to fund as soon as the Bayanihan 2 or Stimulus 1

law is passed,” Dominguez said.

The Executive branch and both houses of Congress are working on the passage of Bayanihan 2 to keep the economy afloat amid the pandemic.

This, as the government expects to see a doubling of its deficit-to-GDP ratio to P1.613 trillion or 8.4 percent of GDP from only P660.2 billion or 3.4 percent of GDP in 2019.

Given the Philippines’ urgent need for budgetary support to address the Covid-19 emergency, the ¥50-billion loan was processed in less than a month, the quickest ever secured under Japan’s Official Development Assistance (ODA) financing package and in keeping with the “fast and sure” approach adopted by the two countries since 2017.

Happy to be first–ambassador

FOR his part, Japanese Ambassador to the Philippines Koji Haneda said they are glad that they are the first donor-country to be able to offer the “highly concessional” loan to the Philippines to address the

global Covid-19 crisis.

“We have high hopes that this loan will be instrumental in helping jumpstart the Philippine economy, and running the fast pace to recovery, we fully support the four-pillar strategy of the Philippine government in steering the economy to bounce back from this pandemic. Its phased and adaptive approach to economic recovery will be vital in tracing back its growth trajectory,” Haneda said.

Jica Philippines Chief Representative Eigo Azukizawa said they are open to exploring new and innovative ways to deliver its development cooperation programs in response to the Philippines’ immediate needs and consistent with its mandate to promote inclusive and sustainable growth and better quality life for all.

“We believe that this emergency support loan would complement our other projects in the Philippines to help boost the economy by providing jobs to many Filipinos, including the recent agreements for the Cebu-Mactan 4th Bridge and Davao City Bypass Road infrastructure projects in support of the Build, Build, Build program and which we signed just about two weeks ago,” Azukizawa said.

The proceeds from the new yen loan package will automati-

cally be available for withdrawal once the loan is declared effective, which is expected in the last week of July.

The CCRESL was approved by the Cabinet-level Development Budget Coordination Committee on June 10 and was processed by the approving authorities of both countries in only 14 working days until the signing of the loan accord.

Equivalent to about P23.54 billion or $50.45 million, the yen loan package carries concessional lending terms of 0.01 percent (one hundredth of a percent) fixed interest rate per annum with a maturity period of 15 years inclusive of a four-year grace period.

The CCRESL from Japan is designed as a cofinancing operation complementing the Asian Development Bank’s Covid-19 Active Response and Expenditure Support (CARES) Program alongside prospective loans from other development partners, and will form part of the 2020 Gross Financing Program as revised in light of Covid-19 response measures, the DOF said.

To be implemented from 2020 to 2021 by the Department of Health and the National Economic and Development Authority, the CCRESL will be utilized retroactively for the government’s Covid-19 response efforts undertaken

since April 2020.

Finance Undersecretary Mark Dennis Y.C. Joven of the department’s International Finance Group said the Philippines’ intended ODA which it is targeting to tap for this year is $8.6 billion or roughly P428.5 billion.

As of June 5, the Philippines has already secured a total of $6.508 billion or P324 billion in loans and grants from foreign lenders, including the $750-million loan or P37 billion from China-led Asian Infrastructure Investment Bank (AIIB).

As the Philippines’ largest ODA partner, Japan has so far extended about P24.47 billion for Covid-19 response, including the P926.96million grant aid or ¥2 billion that Japan earlier announced to provide principal hospitals and institutions in the Philippines with the most advanced medical equipment, and also set up laboratory surveillance sites across the country.

Since the start of the Duterte administration, Japan has so far extended a total ODA of P363 billion or ¥783.46 billion to the Philippines.

As of end-May, the government’s total outstanding debt swelled by 12.3 percent to P8.89 trillion from P7.916 trillion in the same period in 2019.

Naia…

Continued from A1

its current income, it may not be enough. It may have to dig into its reserves.”

Recto recalled that Miaa’s “pre-Covid-19” income estimate for 2020 was projected at P5.4 billion from collections on passenger terminal fees, P4.1 billion on aeronautical fees, P2.8 billion on rentals, and the rest, mostly from concessionaire fees.

For this year, the senator notes that “it [Miaa] was expecting 21.7 million departing passengers, net of exempted individuals like OFWs, to pay the terminal fee.

Then coronavirus landed, turning the airport into a ghost town.”

He recalled that last year, “it handled 277,530 incoming and outgoing flights, but because of the pandemic, the airport has become a quieter place. No commercial flights, no fees.”

Recto pointed out that even the airport’s income from car parking has taken a hit, from the expected income of P418 million, or P1.15 million daily.

Moreover, the Senate President Pro Tempore noted the Naia’s terminal concessionaires like fastfood outlets, if they have not closed yet, are qualified for various rent forgiveness or deferral modes under government laws and rules.

Recto reminded the national government that Naia also shares its “profits” with the government, remitting P2 billion last year. But for this year, he estimated “it may just be P500 million…and that is a best-case estimate.”

Still, the senator affirmed it is up to the Duterte government’s transportation managers to guide Naia through the downturn. “But if there’s no full resumption, then it will have to change its call sign to ’Need Assistance International Airport.’”

Recto pointed out that “all of Naia’s customers are in distress.

PAL and CebPac have in fact sent out financial ’Maydays’. The OFW, which is a large segment, [is also down].” He was referring to Philippine Airlines and Cebu Pacific Air.

Airport opens to LSIs

MEANWHILE, the premier airport on Wednesday opened its doors to locally stranded individuals (LSIs) who have been forced to spend their days outdoors while waiting for flights to bring them to their home provinces.

“The LSI can now stay inside the Ninoy Aquino International Airport Terminal 3,” said airport manager Ed Monreal, following the orders of Transportation Secretary Arthur Tugade.

“Allow them to make the Naia its temporary shelter until they have confirmed flights,” Tugade told Monreal following an ocular inspection and a chance to talk with the LSIs who were complaining that they have nowhere to go except at the airport.

Tugade visited the airport following President Duterte’s statement on Tuesday night, citing stranded individuals sleeping outside the Naia buildings.

Duterte encouraged the airport authorities to accommodate the LSIs until they have scheduled flights.

The chief executive noted the absence of chairs at the Naia Terminal 3, suggesting that airport management add more chairs for the convenience of the riding public.

The Balik-Probinsya program was temporarily suspended as the government has required that all of the LSIs undergo swab testing.

Also, local government units in the provinces have requested the national government to make sure all of the domestic passengers are subjected to Covid-19 swab test before letting them board a plane for domestic destinations.

The country’s major airlines such as PAL, Cebu Pacific and AirAsia resumed domestic operations on June 1.

Butch Fernandez, Recto L. Mercene

News BusinessMirror

www.businessmirror.com.ph

Editor: Vittorio V. Vitug • Thursday, July 2, 2020 A3

SSS gives ₧5.4-B calamity loans to 346,375 members

By Samuel P. Medenilla @sam_medenilla

O

VER P5.4 billion worth of calamity loans for the Covid-19 health crisis have been approved by the Social Security System (SSS) last month.

In an online news briefing on Wednesday, SSS President Aurora

Ignacio said the loans benefited 346,375 members, who applied for the said benefit from June 15 to June 30, 2020.

She said the approved loans averaged between P11,500 and P16,400.

Ignacio said their Calamity Loan Assistance Program (CLAP) is usually only available for areas, which are placed under a state of calamity.

But since President Duterte placed the entire country under a state of national health emergency, she said CLAP is now available for all of its qualified members.

CLAP could be availed of by SSS members who have at least 36 months of contributions, with six posted within the past 12 months on or before the month of application.

Because of the said requirements, Ignacio said 119,000 CLAP applications were rejected.

She noted the CLAP is available from June 15, 2020, to September 14, 2020.

In demand benefit

IN a related development, SSS said it has observed a notable spike in the

WB appoints new country director for Brunei, Malaysia, PHL, Thailand

By Cai U. Ordinario @caiordinario

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TRADE economist has been appointed as the new World Bank (WB) Country Director for Brunei Darussalam, Malaysia, the Philippines and Thailand.

In a news statement, the WB said the appointment of Senegalese national Ndiamé Diop as Country Director for the “most dynamic economies in Southeast Asia” took effect on Wednesday, July 1, 2020, the start of the WB’s fiscal year.

Prior to this appointment, Mr. Diop was Practice Manager for Macroeconomics, Trade and Investment for East Asia and the Pacific, providing technical and strategic guidance to the economic team working in Southeast Asia and the Pacific.

“These are among the most dynamic economies in East Asia with a strong track record of economic reforms and achievements. The economic security of the middle

DIOP

class and the progress in poverty reduction are, however, being seriously threatened by the Covid-19 pandemic,” Diop said.

“I look forward to meeting our partners in government, civil society, the private sector, and development agencies to learn how the bank can help cushion health, economic and social impacts of the pandemic and set the stage for a lasting recovery,” he added.

Diop was also lead economist for Indonesia, leading the economic

policy dialogue and the WB’s advisory and development policy lending support for the country.

Earlier in his career, Diop worked also as a lead economist for Jordan and Lebanon and WB Resident Representative for Tunisia.

Diop joined the WB in 2000 as a young professional following the completion of his PhD in Economics in the same year.

The WB Group’s work in the Philippines spans more than seven decades, providing support for infrastructure, as well as engagement in key sectors, including agriculture, social protection, water resources and disaster risk management.

The WB also supports the government’s key economic policy and governance reforms, helps spur private sector growth and promotes peace and development in the Southern Philippines.

Earlier, the WB estimated that the country’s gross domestic product (GDP) would contract 1.9 per-

cent this year before rebounding to 6.2 percent next year. In 2022, the World Bank estimates growth will be at 7.2 percent.

WB Philippines Senior Economist Rong Qian said the GDP growth is expected to post its deepest contraction in the second quarter.

The third quarter is still expected to see the economy contract while the last quarter of the year may show “muted recovery.”

In terms of poverty, Qian said the WB’s earlier estimates showed the pandemic is expected to lead to a 3.3-percentage-point increase in poverty.

However, she said, this is on the assumption that the economy stood still for two months and no subsidies, like the Social Amelioration Program (SAP), distributed to vulnerable groups.

Nonetheless, Qian said, poverty is expected to increase this year. The only difficult part is determining the exact poverty incidence rate after the pandemic is over, she said.

number of applicants for its unemployment benefits last month.

From June 1 to June 23, 2020, Ignacio said they released P60 million worth of unemployment benefits to 4,496 jobless SSS members.

“So workers are really affected by the [Covid-19] calamity,” Ignacio remarked.

In its latest displacement re-

port, the Department of Labor and Employment already registered almost 100,000 workers, who were permanently displaced this year.

To note, around 30,000 SSS members already availed of the P354-million unemployment benefits since it was made available in August 2019.

Solon tells DOH: Ensure proper pay, gear for C. Visayas newbie medical frontliners

By Jovee Marie N. dela Cruz @joveemarie

A

LAWMAKER on Wednesday asked the Department of Health (DOH) to ensure the availability of personal protective equipment (PPE) and appropriate compensation for fresh medical graduates who will be deployed in Central Visayas to assist in the government’s fight against the Covid-19 pandemic.

Rep. Ronnie Ong of the Ang Probinsyano, in a news statement, said although these medical graduates are considered as “greenhorns” in the medical field, they do not deserve to be treated like one when they become part of the elite army of medical frontliners who are putting their lives on the line to help their fellow men.

He said that they do not deserve the measly P500 a day, below-the-

minimum-wage rate previously offered to Covid-19 medical frontliners and should be compensated based on the pay grade of their regular counterparts.

Ong said the DOH should stop “penny-pinching” when it comes to the well-being and welfare of the medical frontliners, especially now that there is obviously a shortage of people who are willing to put their lives on the line without any proportionate compensation.

He added that the DOH should also make sure that they have enough PPEs for these new nurses, medical technologists and hospital support technicians who would volunteer as medical frontliners.

Ong said the DOH’s reckless disregard for the safety and well-being of the hundreds of doctors, nurses, medical technologists and other hospital supports personnel caused their untimely and unnecessary demise.

TheBroa

Business

A4 Thursday, July 2, 2020 | www.businessmirror.com.ph

Of soybeans, sugar and farm sector gain from

By Jasper Emmanuel Y. Arcalas @jearcalas

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Reporter

HE trade war between Beijing and Washington has shaken up the world market since it started in 2018. A part of the economic disputes between the world’s two largest economies involve millions of farmers: Agricultural trade between the United States and China can throw a monkey wrench in the gears moving agriculture trade.

To date, the two countries, which serve as important hubs in global value chains, have brokered a Phase One trade agreement but implementation has yet to be seen.

A full chapter Chapter 3 of eight chapters has been devoted to the “trade in food and agricultural products” in the economic and trade agreement between the US and China. About 17 annexes set out further commitments between the two countries, including on rice and pet food.

The chapter on food and farm products has the same number of pages of discussion as the chapter on “Expanding trade.” Nonetheless, this chapter on trade (Chapter 6) also mentions agriculture commodities of additional US exports to China on top of the 2017 baseline: oilseeds, meat, cereals, cotton; other agricultural commodities (from alfalfa to wine); and seafood (including lobster).

The trade in these commodities, however, has been thrust into the unknown because of the trade war.

With President Duterte in a pivot to China as an ally, how will the Philippines stand to benefit from such trade war?

Favoring PHL

FOR Stephanie Nicole S. Garcia of the Philippine Association of Feed Millers Inc. (Pafmi), the possible impact of the US-China trade war to the Philippines is “two-pronged.”

“We expect prices of commodities to go down like soybean and soybean meal whenever China stops buying from the US and purchases from other sources like Brazil and Argentina,” Garcia, Pafmi president, told the BusinessMirror in a phone interview. “This [shift] favors the [local] feed millers and livestock sector.”

However, she emphasized one problem: “China is not buying the hogs and the chicken from the US.” According to Garcia, “these meat products are now diverted to the Philippines and [that practice] becomes ‘a sort’ of dumping.”

Still, she noted that China is a huge buyer of soybean products from the US, particularly soybean seeds, which American farmers use to produce tofu and soy sauce, which are widely used in China.

On the other hand, the Philippines buys other soybean products such as soybean meal, for its animal feed requirements, Garcia explained.

Agreement compliance

ACCORDING to Garcia, the price of soybean meal mainly used for livestock feed has dropped by P2 per kilogram since the escalation of the US-China trade war. The price drop, Garcia said, has helped keep local feed prices in check and reduced production costs of domestic meat products.

“It is really more about price volatility,” she said. “Every time they do not comply with their agreements, world market prices go down.”

For example, if China proceeds with buying more soybean products from the United States compared to its annual volume pre-trade war, then world market prices may climb due to supply tightness, Garcia said.

Nonetheless, if this happens, Garcia doesn’t see the US reducing its soybean meal exports to the Philippines, as the country is the US’s top market for soybean meal.

“I doubt that they will run out of supplies for us. The US would like to remain the biggest supplier of soybean meal to the Philippines and keep their 90 percent market share,” she told the BusinessMirror.

“I think if prices go up they will find ways to keep their market share,” Garcia added.

Rapeseed, fish meals

ACCORDING to the US Department of Agriculture (USDA), the Philippines’s soybean meal imports next year is projected to reach a recordhigh 3.095 million metric tons (MT) from this year’s estimated 2.95 million MT on the back of the expanding livestock and poultry industries.

“Despite African Swine Fever’s spread and reduced hog output, greater poultry production is offsetting the decline, as consumers shift away from pork to poultry meat in market year 2019 to 2020,” according to a Global Agricultural Information Network (Gain) report by the USDA Foreign Agricultural Service in Manila.

Garcia said if world soybean meal prices become too high then local feed millers can opt to source other substitutes like fish meal and rapeseed meal. Aside from the US, Argentina and Brazil also supply soybean meal to the Philippines.

Meat prices

UNFORTUNATELY, the observed decline in feed prices did not directly translate to lower meat prices domestically due to various factors.

For one, Garcia explained that

soybean meal only accounts for 20 percent of the whole composition of animal feeds.

Second, retail pork prices do not reflect any changes at the farm-gate level due to a disconnect between the two, with traders mostly making the profits, she added.

The Pafmi executive also noted that China’s ongoing push to be selfsufficient in soybean seeds could greatly change the landscape of the global soybean market.

“It will favor us if China can supply their own soybean seeds and meal; and it is only a matter of time,” Garcia told the BusinessMirror.

Encouraging shift

OPPORTUNITY is what Cocoy Barrera of the Philippine Sugar Millers Association (PSMA) sees from the soybean issue.

Barrera, who is executive director of Pafmi, said the shifting

by Brazil sugarcane producers to soybean is an opportunity for the local sugar industry.

Brazil tried to fill China’s demand for soybean products after Beijing reduced its purchase of these from the US. In doing so, Brazil sugarcane farmers were encouraged to shift to soybean to meet the high soybean requirements of China.

“Brazil is the second-largest country in terms of soybean production and it is also the largest exporter of sugar. Most likely, if the trade war escalates, it will affect Brazilian sugar production, prices and exports,” Barrera said.

“China’s soybean requirement is around 100 million tons a year that Brazil cannot produce at current areas; so they may have to divert sugarcane areas to soybean,” he added.

Reduction in supply

BARRERA explained that a reduction in Brazil’s sugar supply may cause tightness in the world sugar supply. The tightness, he said, could result in higher prices that the Philippines could take advantage of if it decides to sell more sweetener to the world market.

“We are expecting that world sugar prices will go up,” Barrera said. He noted that prices started rising late last year until before March 1.

“Until the Covid-19 pandemic [and the lockdowns] disrupted trade,” he added.

The Philippines usually exports sugar to the world market during times of a domestic glut to arrest or avoid a plunge in mill-gate prices.

Barrera said Brazil’s conversion of sugarcane areas to soybean plantation could also result in tight supply of ethanol in the world market since it is a major player in that industry.

“Sugar mills in Brazil can easily switch to produce sugar and ethanol.

And ethanol is largely sugarcanebased. If [they reduce sugar output] then it may also affect ethanol production,” he said.

Barrera added that the United States’ move to halve the tariffs slapped on Chinese sugar to 7.5 percent will not affect the Philippines’ sugar exports to Washington since Manila has an assured annual quota.

‘Stable’ trade

THE American Chamber of Commerce in the Philippines-Agribusiness Committee (AmCham-

AC) said it has not observed the US-China trade war to have “any major effects” on Philippine agriculture, stressing that trade between the two big economies have remained stable.

“Both markets remain major origin and destination markets for our agricultural sector and trade flows seem to have remained stable,” said an AmCham-AC statement emailed to the BusinessMirror. “[The] same trend seems to be the case for investments into the local agricultural space as well.”

The statement said the Am-

Cham-AC foresees potential opportunities or tailwinds for the Philippines “emerging from this trade war, particularly in the agricultural products that [the] US and China sell to each other.”

The group said the Philippines could position itself as a supplier of certain farm products that the two countries would not anymore buy from each other.

“As they mutually increase tariffs, the natural tendency is for these two countries to redirect sourcing to other third countries offering better terms,” the Am-

Cham-AC said. “The Philippines can, therefore, be a potential beneficiary if it is able to capture some of this redirected trade flows.”

Right setting

ACCORDING to the AmCham-AC, “pork and poultry products are some of the main US exports to China, while fresh and processed fruits and vegetables are some of US imports from China.”

But in order to capitalize this opportunity, the Philippines should identify the supply gaps between the US-China farm trade and improve its

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, July 2, 2020

A5

d coconuts: Will PHL US-China trade war?

Very expensive

THE AmCham-AC said the US-China trade war, nonetheless, remains as a “matter of concern to the global trading system.” The group told the BusinessMirror they hope for a “general de-escalation of the situation.”

“Rising tensions can easily spiral into a tit-for-tat escalation of trade barriers, with a growing tendency towards protectionism and possibly polarization of shared trading partner,” the AmCham-AC said.

“We thus hope to see a general de-escalation of the situation, with both sides continuing constructive dialogue, as we had seen in the Phase I deal last year and whose progress we applaud and support,” it added.

Still, Philippine Institute for Development Studies Senior Research Fellow Roehlano M. Briones described as “limited” the opportunities for the Philippines from the US-China trade war, since agriculture commodities traded with the two countries “are not really in our trade basket.”

“I do not see any opportunities arising from the trade war for us.

Airlifting high-value products via air cargo like fruit is too expensive and there’s no way to make it economical,” Briones told the BusinessMirror.

“The only way is to transport it through passenger plane but flights are still suspended; and even if they resume they would still be limited,” he added.

Outbreak of Covid-19

competitiveness in these food products, the group said.

“To win from this ongoing trade dispute, the Philippines must find a way to discover these potential gaps that may need filling on both sides of the fence and boost its competitiveness to service these requirements,” the AmCham-AC said. “Setting up our ‘sails’ right to take advantage of these ‘tail winds’ will be key.”

An industry source, who follows the developments of US trade with the Philippines, concurred with AmCham-AC’s statement. The person familiar with the matter added that

Manila may even sell more food products to the US if Washington opts to purchase lesser volume from China.

“China may not buy more from the US because their demand plunged. I think the Philippines may be able to sell more to the US, especially its top agricultural exports if the United States buys less from China,” the source said.

Exports, imports

BESIDES cheaper soybean, the Philippines also stands to benefit from more affordable dairy and meat products from the US if China buys

less of these food products from Washington, the source said.

In 2018, the United States’ total export of agricultural products to China amounted to $9.3 billion, making China the fourth-largest agricultural export market for American farm products, according to the US Trade Representative (USTR).

The top farm products exported

by US to China during the period include soybeans ($3.1 billion) and pork and pork products ($571 million), according to the USTR. China is the top importer of US soybeans, the third-largest importer

of US dairy and poultry products and fourth-largest buyer of American pork, beef and processed food, USDA data showed.

Based on the USTR report, US agricultural imports from China in 2018 reached $4.9 billion, making it its third-largest supplier of farm products.

Per the USTR, the US top agricultural imports from China are: processed fruits and vegetables ($1.2 billion); fruit and vegetable juices ($393 million); snack foods ($222 million); spices ($167 million); and, fresh vegetables ($160 million).

EVEN after a Phase One trade agreement was brokered earlier this year, the future of the US-China trade war remains uncertain, especially in light of the Covid-19 pandemic and the strict measures states imposed to contain it.

A n agriculture expert who asked to remain anonymous for being involved in government trade negotiations said the implementation of the Phase One trade deal will push through this year relies heavily on politics involving the two big economies.

Since the outbreak of Covid-19, no less than US President Donald J. Trump has blamed the spread of the new coronavirus on China.

“As I watch the Pandemic spread its ugly face all across the world, including the tremendous damage it has done to the US, I become more and more angry at China,” Trump said in a Twitter post on July 1.

“People can see it and I can feel it.”

Garcia said the US-China trade war has been overshadowed by the Covid-19 pandemic, leaving the two big economies at a new stage of their disputes.

Garcia added that whichever country gets to discover a vaccine against Covid-19 first could have the biggest leverage in moving forward the bilateral trade between the US and China.

“They will shift priority to focus on rebuilding their own economy.

Anything outside of that will be secondary,” Garcia said.

Letting up

GARCIA believes the tide of war will change when a vaccine for Covid-19 is discovered.

“ T he next battle would be who makes the vaccine first; this might change the whole landscape,” she said. “It will be a very good leverage in moving forward their trade talks.”

Nonetheless, Garcia said they are in a “wait-and-see” mode as US and China have refrained from issuing “sweeping” statements regarding the matter.

Briones said he doesn’t see the US-China trade war escalating soon given external factors hounding the two countries such as the Covid-19 pandemic, Trump’s reelection bid and China’s issue with Hong Kong. Due to these, the Phase One trade agreement between US and China is effectively sidelined, he explained.

“Its biggest impact is that it could worsen existing global crisis.

We know Covid-19 has caused vast economic contraction worse probably than the 2008 crisis,” Briones told the BusinessMirror. “And if that’s the situation, you do not want any other issues or challenges to compound it.”

He added that Trump is “hell bent” on winning his re-election and will utilize anything and everything, including whipping out anti-Chinese sentiments just to secure his win.

“There seem to be no signs of letting up with the trade war. Instead of having negotiations and making a deal, Trump is just making tirades to boost his base and get votes,” Briones said.

Trade beyond ‘war’

LOOKING beyond the trade war, economist Pablito M. Villegas said the Philippines could use coconut oil as leverage to improve its exports to both countries if the food product is proven to be effective against Covid-19.

“Both these countries are looking for a cure against Covid-19 and the Philippines could be the one providing them with that through coconut oil,” Villegas said.

“That could be an anchor for us to expand trade with the two countries if the results that coconut oil is effective would be true. It is just a matter of time,” Villegas added.

In a report to the United Nations Conference on Trade and Development Commission on Science and Technology for Development, the Philippines said it is currently conducting three separate studies that seek to determine the efficacy of coconut oil against Covid-19.

The Department of Science and Technology is currently supporting the three studies.

The first one seeks to determine the efficacy of virgin coconut oil in improving the condition of confirmed and probably Covid-19 patients.

The second study, which is spearheaded by Ateneo de Manila University experts, aims to test whether certain coconut oil components can diminish or prevent the infectivity of SARS-CoV2, the causative virus of Covid-19, according to the report.

The third study assesses the possible benefits of VCO if given to patients with moderate to severe Covid-19, in addition to the drugs being assessed in the clinical trials, the Philippine report added.

A6 Thursday, July 2, 2020 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Can the world prevent the next pandemic?

J

ust as China has managed to bring the coronavirus pandemic under control within its borders, Chinese researchers have discovered a new type of swine flu that is also capable of triggering a pandemic, according to a study published on June 29, 2020 in the US science journal PNAS, the official journal of the US National Academy of Sciences. This prompted one writer to quip: “What the world doesn’t need now is a pandemic on top of a pandemic.”

In their paper, the Chinese researchers said lab dish studies showed that the new virus, named “G4 EA H1N1,” has become adept at copying itself in human airway epithelial cells. They said there’s a need to step up surveillance, adding that it makes sense to develop a vaccine against the virus for both pigs and humans.

Dr. Anthony Fauci, director of the US National Institute of Allergy and Infectious Diseases, told US senators on Tuesday that the G4 virus has not yet been shown to infect humans but it is exhibiting “reassortment capabilities.” “In other words, when you get a brand new virus that turns out to be a pandemic virus it’s either due to mutations and/or the reassortment or exchanges of genes,” he said. “And they’re seeing virus in swine, in pigs now, that have characteristics of the 2009 H1N1, of the original 1918, which many of our flu viruses have remnants of that in it, as well as segments from other hosts, like swine.”

The 1918 flu killed between 30 million and 50 million people, according to the Centers for Disease Control and Prevention. The H1N1 swine flu, on the other hand, infected more than 60 million people in the US and at least 700 million worldwide, killing an estimated half a million people across the globe.

The G4 influenza virus possesses “all the essential hallmarks of being highly adapted to infect humans,” according to the scientists at Chinese universities and China’s Center for Disease Control and Prevention that published the study. From 2011 to 2018, the researchers took 30,000 nasal swabs from pigs in slaughterhouses in 10 Chinese provinces and in a veterinary hospital, allowing them to isolate 179 swine flu viruses. The researchers then carried out various experiments including on ferrets, which are widely used in flu studies because they experience similar symptoms to humans, principally fever, coughing and sneezing.

In an article published online by sciencemag.org—Swine flu strain with human pandemic potential increasingly found in Chinese pigs—Jon Cohen said the G4 variant is especially concerning because its core is an avian influenza virus—to which humans have no immunity—with bits of mammalian strains mixed in. He quoted Edward Holmes, an evolutionary biologist at the University of Sydney who studies pathogens: “From the data presented, it appears that this is a swine influenza virus that is poised to emerge in humans. Clearly this situation needs to be monitored very closely.”

Sun Honglei, the paper’s first author, says G4’s inclusion of genes from the 2009 H1N1 pandemic “may promote the virus adaptation” that leads to human-to-human transmission. Therefore, “it’s necessary to strengthen the surveillance of Chinese pigs for influenza viruses.”

Should we be worried about the “pandemic potential” of the G4 influenza virus?

In his fortune.com article, A new swine flu in China has ‘pandemic potential’: 2 scientists explain why you shouldn’t panic, Grady McGregor quoted Angela Rasmussen, a virologist at Columbia University: “Sure, this virus meets a lot of the basic criteria, but it’s not for sure going to cause a hypothetical 2020 flu pandemic, or even be a dominant strain in humans. What we should NOT do is freak out and expect that another flu pandemic is imminent.”

From McGregor’s article: “There’s no evidence that G4 is circulating in humans, despite five years of extensive exposure,” Carl Bergstrom, a biologist at the University of Washington wrote on Twitter. “That’s the key context to keep in mind.” Rather than ring alarm bells about another impending pandemic, Bergstrom said epidemiologists should continue screening for the virus and “keep a careful eye” on whether the virus undergoes changes that would make it more dangerous to humans.

Since 2005

BusinessMirror A broader look at today’s business

Fake news, sad news James Jimenez

spox

T

he Commission on Elections (Comelec) has been in the news lately, except that for the most part, it’s not the kind of news anyone would be terribly happy about: first, there was the talk of fake voter IDs emerging once again; and second, a rather disappointing development about something that a lot of people had been looking forward to.

‘Fake news’ The notion—the “fake news”—that a person has to be a registered voter in order to receive government aid during this Covid-19 national health crisis, seems to have given a boost to the business of making and selling fake voter identification cards. Just last week, two people were arrested by the National Bureau of Investigation for peddling fake voter IDs—in exchange for money, they would provide the poor chump with a bogus voter ID which, to be fair, would probably fool most people. But no matter how convincing those IDs may have been, fake they certainly were; for one thing, the signature on those IDs were from a Chairman who has long since left the Comelec. More important, the Comelec stopped issuing new voter IDs in 2012, anticipating

the launch of the National ID system.

As to the idea that seems to have been capitalized on by the scammers, this isn’t the first time we’ve heard of that. Early on, when the government first started distributing “ayuda,” the Comelec already announced that voter registration status didn’t matter when it came to deciding who would receive government Covid-19 aid. This reflected the DILG’s own statement on the same issue. And yet the wrong notion persists.

That’s bothersome for two reasons. First, scammers can use the public’s ignorance to separate them from their money; and second, it’s putting undue pressure on people to go out of their homes to visit the Comelec just to try to get an ID that isn’t being issued anymore, and which shouldn’t even be necessary anyway.

2021: The next crisis

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teady economic policy failures over a prolonged period create lack of confidence in government. This is followed by an “out with the old; in with the new” action. Unfortunately, bad economic policy reaches far into the future, and like a mammoth supertanker, cannot change course quickly.

Bad decisions, whether by a government or a person, eventually reach a tipping point where everything goes to hell. Over the course of these cycles, we can throw in a few wars—shooting or trade—several major global natural disasters, and as we are going through now, a once in several lifetimes pandemic.

However, the pandemic is only the immediate catalyst of the economic chaos that will eventually lead to a “reboot” of the global economic system. As I have said before, both the US and Chinese economies were in deep trouble before anyone—except maybe for Chinese bio-warfare scientists—had ever heard of Covid-19.

In 2019, China had the most number of corporate debt defaults in history. Chinese economic growth

—even with creative bookkeeping—has been in a downtrend since 2012. US economic growth has been in a downturn since January 2018 and US Federal Debt to gross domestic product has been in the ICU since 2014.

Notice though the economic suffering has been much less in Europe than the US. The reason is that unlike the Europeans, Americans immediately increase their credit card limit by $10 for every $1 increase in their income.

In the Philippines, some firmly believe that if Duterte is not the president, the Covid-19 pandemic would never have happened. But the blame for the greatest economic problem now facing the Philippines goes back decades. During the term

The notion—the “fake news”— that a person has to be a registered voter in order to receive government aid during this Covid-19 national health crisis, seems to have given a boost to the business of making and selling fake voter identification cards. Just last week, two people were arrested by the National Bureau of Investigation for peddling fake voter IDs—in exchange for money, they would provide the poor chump with a bogus voter ID which, to be fair, would probably fool most people.

What makes this worse is that many of those being fooled are senior citizens—the very people we should be discouraging from needlessly venturing out into the path of the still running rampant coronavirus.

Sad news

Everyone’s been waiting for voter registration to resume for about two months now. Sadly, the Commission on Elections has held off on restarting the voter registration period it halted on March 9, 2020. At the time, it was thought that the stoppage—a direct response to the pandemic—would be lifted by the end of the month.

Two community quarantine extensions later, the voter registration centers remain silent.

The amount of government debt can be an issue. But other debt factors are more important.

Unfortunately, certain “experts” on Philippine government debt cannot put their political agenda back in their pants long enough to understand why the Philippines will not be a part of the coming crisis. of then President Fidel Ramos, overseas Filipino workers were called modern day heroes of the Republic.

That is true on an individual basis.

But collectively, overseas Filipino workers (OFWs) are the “Disgrace of the Republic,” with employment abroad being encouraged and facilitated by every administration since Ramos.

It is impossible for the economy to employ these returning OFWs in the foreseeable future. This fact in itself is going to cause an economic reboot in the Philippines. Globally, the economic reboot will come from the next part of the economic cycle— the sovereign monetary crisis.

The amount of government debt can be an issue. But other debt factors are more important. Unfortunately, certain “experts” on Philippine government debt cannot put their political agenda back in their pants

Prior to this decision, it was believed that voter registration might possibly be resumed as early as July.

However, with the sudden increase of new cases daily—along with the emergence of Covid-19 cases in places previously reporting zero incidences —the emerging consensus is that it would be safer for the general public for Comelec to approach resumption a bit more slowly. Now, by most estimates, the resumption of voter registration is expected to come in August or September, with some of the gloomier predictions foreseeing a January 2021 reopening. This doesn’t mean, however, that the Comelec offices are dark.

In Intramuros, the various offices of the Comelec are functional, albeit with skeleton crews, every day except Fridays and weekends. On Fridays, the offices are disinfected. In the field, Comelec offices are back up and running as well, with plastic barriers, hand sanitizing stations, and physical distancing reminders in place.

However, while voter registration transactions with the public—filing of applications, registrant interviews with the Election Officers, and the taking of the registrant’s biometrics—remain off the table, Comelec’s Election Officers still come to work, continuously refining their Covid-19 precautions and carrying out all the back-end operations the public hears about only rarely, such as election registration board hearings.

long enough to understand why the Philippines will not be a part of the coming crisis.

Are the lenders foreign or domestic? How much of the debt is denominated in foreign currency or local currency? What is the average tenor of the debt and how much is short term? Is the debt being used to keep the government solvent, shortterm emergency spending (like your own medical bills), or for economically advantageous projects?

In April, the Philippine government sold $2.35 billion in a double tranche of 10-year and 25-year Global Bonds. “The transaction was able to achieve the Republic’s lowest ever coupon for a 10- and 25-year benchmark issuance amid no less than an environment gripped with pandemic fear,” said the Bureau of the Treasury.

That is why since that bond offering, governments and agencies have been offering to lend the Philippines money, knowing there is not going to be any sovereign debt crisis from Philippines. But if you enjoyed 2020, you are going to love 2021. Keep your seat belt fastened.

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stockmarket information and technical analysis tools provided by the COL Financial Group Inc.

Opinion BusinessMirror

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5G race, into the homestretch The compassionate Lord Msgr. Sabino A. Vengco Jr.

Val A. Villanueva

Businesswise

Alálaong Bagá

magine this: Hundreds of drones, each one tinier than a grain of rice, being intravenously injected into your body. Remotely controlled by trained doctors, these drones will “search and destroy” with 100 percent targeted precision every tumor, cancer cell, or whatever else may be taking severe toll on your health.

E have been told by Jesus not to be afraid however daunting our task seems to be, and also to be totally committed to Him so that we love no one more than Him. This is because in Him we the little ones have the Lord who is gentle and humble of heart (Matthew 11:25-30).

This isn’t science fiction anymore.

We are now entering a new phase in wireless innovation as the 5G technology ushers in the Star Trek generation. Cars that drive themselves; refrigerators that monitor and tell us the freshness level of their contents, and television sets that order for you your medicines and other essentials through voice commands.

Operated essentially through artificial intelligence or AI, 5G brings to the table greater and more intelligent automation. We’re not talking here about the use of robots, but the ability to fully integrate supply chains across industry, sector, and national boundaries. 5G can likewise aid in the advancement of self-directed vehicles and address transport problems such as traffic congestion, pollution, and collisions, creating a smart transport system.

For example, 5G will facilitate direct communication from vehicle to vehicle, without tapping on to the network to prevent traffic congestion and delays. Self-driving vehicles are efficient in alerting others of shifting conditions in the weather or unforeseen incidents on the road, such as collisions, and will allow autonomous vehicles to drive close to each other in what are called “platoons”— a group of vehicles going in the same direction at a given time.

But the real deal here is 5G’s military application. You can just imagine why developed countries are fighting tooth and nail to be ahead in this 5G race of attrition.

Fifth-generation wireless or 5G is a novel reconfiguration of cellular technology. It is designed to boost the speed and receptiveness of wireless networks. Data transmission via 5G over broadband networks can trek at multigigabit speeds—an estimated 20 gigabits per second—outstripping wireline network speeds with latency of 1 millisecond or lower (which is ideal for applications that require real-time feedback).

At the moment, however, 5G is limited to mobile phone applications, with South Korea leading other countries in 5G deployment. As of January 2020, South Korea has rolled out 5G to 85 cities, even as government officials estimate that 90 percent of the country’s mobile users will be on a 5G network by 2026.

After South Korea, China ranks second as the country with the most cities in which 5G is available. As of January 2020, China had deployed 5G technology in 57 cities. In October 2019, three major wireless carriers in China launched 5G networks: China Mobile, China Telecom and China Unicom. While coverage is limited in some areas, Beijing, Shanghai, and Shenzhen are the cities with the best coverage thus far.

The US is ranked third with AT&T Inc. (T), Verizon Communications Inc. (VZ), Sprint Corp. (S), and TMobile US Inc. (TMUS) actively developing, testing, and deploying 5G components. As of January 2020, 5G had been deployed in 50 cities in the United States. Sprint has rolled out mobile 5G in Atlanta, Chicago, Dallas-Fort Worth, Houston, Kansas City, Phoenix, Los Angeles, New York City, and Washington, D.C. AT&T has made its mobile 5G+ network live for consumers in parts of 35 cities and 190 markets.

But the race to use 5G beyond cellular phones has been tightly contested by the US and China, with the US Department of Commerce agreeing to closely work with Huawei on setting standards for next-generation technologies. Analysts say this move seeks to prevent China from gaining undue advantage through “unethical means.”

I believe that such move is

God’s special care for the little ones

I

tactical because it affords American firms to share in the establishment of quality standards and ethical rules win the regulation of such perilous technologies.

It will be recalled that Huawei was blacklisted in the US and was categorized as Entity List in May 2019.

American firms were banned from doing business with Huawei and were required to apply for licenses to sell to it, although the move puzzled some US firms which are participants in standard-setting discussions, and organizations where Huawei was also involved. The rule has thus been changed, and a clarification that US firms can work with Huawei in standard-setting bodies had been issued.

US Department of Commerce Secretary Wilbur Ross said in a statement that “[t]he United States will not cede leadership in global innovation. This action recognizes the importance of harnessing American ingenuity to advance and protect our economic and national security.” He added, “The Department is committed to protecting US national security and foreign policy interests by encouraging US industry to fully engage and advocate for US technologies to become international standards.”

The Information Technology Industry Council, a global tech trade body, hailed the move. As quoted by CNBC, ITI Senior Director of Policy for Asia said: “It is exceptionally important for US companies to be at the table. Being forced to cede their seat at the table to the likes of Huawei no less, was in nobody’s interest, except the Chinese. The last thing we want to see is unintended consequence that negatively affects US companies’ competitiveness.”

For decades, US and European companies have been in the forefront in setting technology standards, but with China and other countries keeping pace, the set of standards the countries have to abide by have yet to be established.

The way I see it , based on its confidence in trailblazing in technology innovations, China wants to develop its own national standards which it also wants to push globally. With Huawei already firmly entrenching itself inside telecom’s standardsetting bodies, that push is as real as it can be.

China is embarking on a 15-year draft which it calls China Standards 2035. To say that it is highly ambitious is an understatement. This has certainly created ripples in the telecom industry since the blueprint sets Beijing’s objective to rule global standards for the next generation of technologies. Huawei is China’s foot soldier in achieving such dream given its potency in the spheres of telecommunications, mobile phones and cloud computing. If US companies will be left out in standards setting, most analysts fear that American technology firms could lose their relevance.

Fortunately, although belatedly, the US Department of Commerce has grasped the weight of having US firms actively participate in setting future standards. “US participation and leadership in standard-setting influences the future of 5G, autonomous vehicles, artificial intelligence, and other cutting-edge technologies,” it said.

Despite health concerns about the 5G technology—with experts saying that the radiation it emits can cause cancer and other deadly and debilitating diseases—the race is on! Within the next few years, the Philippines too will hopefully be part of the Star Trek generation.

For comments and suggestions, e-mail me at mvala.v@gmail.com

W

Jesus was pained by the absence of understanding and faith among those who took offense at Him, disregarding His call to repentance and rejecting His preaching (Matthew 11:20-24). But compensating for the rejection by “the wise and the learned” were the “childlike” people who welcomed Him. They occasioned Jesus’ prayer of thanksgiving to God. To these merest children God has revealed His wisdom, hidden from the clever ones who prided themselves in their mastery of the law, which seemed to have closed their hearts to the words of Jesus.

In the absolute gratuity of the gift of faith, these simple people could divine in Jesus the one sent by the

Father and entrusted with His words.

In their childlike openness, they accepted Jesus as the one who knows the Father and they were attracted to Him and listened to Him with wonder and fascination. They heard and believed Jesus intimately calling God “Abba” (Father) in a unique relationship where “No one knows the Son except the Father, and no one knows the Father except the Son.” Jesus is echoing in His person the wisdomimage of God’s goodness and the reflection of eternal light (Wisdom 7:22-30). Since “all things have been handed over” to Him by His Father, Jesus is contradicting the traditional claim that God’s revelation is fully contained in the law and the prophets of the Jews. Indeed this full revela-

Thursday, July 2, 2020 A7

tion of God in Jesus means release from the law on the part of all who believe in Him.

My burden is light

IT is a lighter load to follow Jesus than to adhere to the law. Jesus’ warm and pressing invitation to all the little ones who labor and are burdened is because “His yoke is easy and His burden light.” In claiming to be the real and definitive wisdom from God, Jesus is the “source of joy,” satisfying the thirsty soul more than gold (Ecclesiastes 6:25; 51:27). Unlike the Pharisees who “tie up heaven burdens and lay them on men’s shoulders” without lifting “a finger to move them” (Matthew 28:4), Jesus calls followers to Himself and offers His own yoke and example of accepting and submitting totally to the Father’s will. His yoke is what His gospel comes down to: love of God and love of others in imitation of the Father who loves the little ones.

Love is demanding but not burdensome; in fact, it lightens the load one must carry.

The compassion of Jesus makes being His disciple a relationship of joyful fellowship and privileged service. He is “gentle and humble of heart.” He is the mighty one who is most considerate of the weak ones; He is the Son of the Most High always

Agri protectionism in Covid times Dr. Rene E. Ofreneo

LABOREM EXERCENS

T

he economic response of many countries to the Covid-19 pandemic is to close their national borders. The idea is not only to prevent the spread of the virus but also to preserve their domestic markets, industries and jobs amid a global recession. In crisis times, countries become protectionist. This was amply illustrated during the 2008-2010 global financial crisis, when governments of developed countries set aside a large amount of their stimulus budgets to save industries deemed “too big to fail” or too valuable to be taken over by outside barbarians.

How about agriculture in Covid times? The Third World Network (TWN) of Penang, Malaysia reported on June 27, 2020 that the developed countries continue to pour “billions of dollars in farm support” to their domestic producers, “breaching their scheduled commitments” to the World Trade Organization.

As a backgrounder, the refusal of the United States (under the US Farm Bill) and the EU (under the Common Agricultural Policy) to give up huge domestic farm subsidies while pushing the developing countries to liberalize agricultural markets is at the roots of the failure of the WTO to conclude a Ministerial Agreement on the so-called Doha Development Agenda, a comprehensive trade liberalization proposal launched in 2000 or two decades ago.

Per the TWN report, an unnamed trade ambassador summed up the trade talks in the WTO amid the pandemic as follows: “The stimulus packages being provided by the developed countries will have serious adverse effects on the productive capacities of developing countries” which “do not have the fiscal space to respond to these stimulus packages being offered by developed countries to their producers.” And yet, “at the same time, the developed countries are trying to push for less restrictions, new rules, new disciplines, including on export restrictions that can be used under specific conditions, to ensure that they have market access in developing countries.”

Examples of questionable subsidies during these Covid times were mentioned by TWN. The US has a food assistance program worth $19 billion, including $16 billion direct support to farmers and ranchers. Under this program, each producer can get as much as $250,000, per estimate by a Brazilian trade negotiator. Australia’s subsidy program comes in another form: “International Freight Assistance”, which means the airfreight costs of high-value agricultural and fishery products being exported by Australian producers is covered by their government. EU’s farm assistance program includes private storage aid and support to potato producers, on top of the usual EU subsidies.

Overall, instead of a coordinated global response to the Covid-19 crisis, member-countries of the WTO

continue to be divided on the offensive of agriculture-exporting countries to open up markets of developing countries while maintaining subsidies to their domestic producers. The plea of developing countries like South Africa and India for “policy space” such as the application of special safeguard measures during crisis periods to prevent an avalanche of imports has remained unheeded.

Now, what is the position of the Philippines today in the trade talks in the WTO and other trade forums? This is unclear and remains to be fleshed out under the new administration in the Department of Agriculture.

In the pre-Covid periods, the DA had officially aligned itself with Indonesia and other developing countries in the demand for more “policy space” and “trade flexibility,” for examples, use of special safeguard measures against unwanted imports and operationalization of the principle of “special and differential treatment” or SDT. The latter simply means recognition of the uneven development among countries and their differing capacities to nurture their agricultural sector; hence, a “one-size-fits-all” liberalization formula is one-sided and anti-development because the weaker members of the WTO cannot compete with the more developed members under so-called “equal” rules.

The problem is that there is a big disconnect between what the DA cites as the needed measures to protect Philippine agriculture and what the government actually does. For example, the former DA trade negotiators argued for more trade protection and flexibility; and yet, the national government, primarily through Neda, had been opening up the agricultural sector to global competition in a wholesale manner. Thus, when the Philippines joined the WTO in 1994-1995, its agricultural tariff commitments were way below those made by Thailand, a major agricultural exporting country in the world. This was so because earlier in the 1980s, the Philippines “unilaterally” reduced its industrial and agricultural tariffs under the “structural adjustment program” (SAP) imposed by the IMF-World Bank.

The neo-liberal argument for agricultural trade liberalization goes this way: market and competition help unleash

agricultural productivity, paving the way for agricultural openness modernization. And yet, the reverse happened. Under the SAP’s agricultural deregulation and the country’s trade liberalization commitments to the WTO, the Philippines has become a major net agricultural importing country since 1994. We import virtually everything – fruits, milk, meat, legumes, vegetables, rice and numerous processed agricultural products. Our traditional export products (sugar, coco oil) and non-traditionals (pineapple, banana) cannot tilt the trade balance in our favor. This growing import dependence and the collapse of domestic agricultural production (mainly food crops and livestock) explain why the share of the agricultural sector in the GDP is a measly eight percent today.

With the Covid-19 crisis, there are renewed calls to revive, modernize and diversify the agricultural sector. This is critical since the health crisis has become a food crisis in the Philippines and in many countries around the world. And as each country tries to insure that their people have ample supply of food when needed, it becomes truly perilous for any country to be dependent on food imports.

The decision of Asian rice exporters such as Myanmar and Vietnam to restrict or even stop rice exports during the pandemic is a signal that reliance on supplies coming from the global market, as favored by some neo-liberal economists, puts the country at great risk. National security dictates that a country must have the capacity to produce at home as much as possible the food requirements of its people.

Additionally, DA officials are correct in highlighting the strategic importance of agriculture as a source of economic growth in uncertain Covid times and as a job generator amid widespread joblessness in the urban areas. The question, however, is how can the Philippines fasttrack the revival, modernization and diversification of the agricultural sector?

The country is never short of policy answers: strengthening the inputoutput supply chains, more support services to the farming population, free irrigation, completion of the land transfer program, agricultural credit, honesty and transparency in government procurement related to agriculture, better extension services, seed development, distribution of farm machinery, marketing assistance and so on and so forth. These are fine. However, we want to emphasize two major points: the importance of strategic re-visioning on agricultural development in Covid times and stronger and coherent policy coordination on trade and production issues.

Let us illustrate these two points with regard to rice, the country’s staple food.

On strategic re-visioning, is it not timely to revisit and amend the Rice Tariffication Law? This was uniformly denounced by the farmers’ organizations when the law was proposed in 2018. As things turned out, the farmers’ organizations were correct. The RTL devastated the rice farming sector on the first year of RTL’s implementation. The big gainers were the big private rice importersdistributors who succeeded in restoring

in loving consciousness of His heavenly Father. That is why the evangelist saw in Jesus what was spoken of through Isaiah (42:1-4): “Behold, my servant whom I have chosen, my beloved in whom I delight. I shall place my spirit upon Him.... A bruised reed he will not break, a smoldering wick he will not quench,” (Matthew 12:17-20).

Alálaong bagá, we are followers of a just and peaceful Lord, gentle and humble of heart, full of compassion and understanding. To all of suffering humanity, oppressed by violence, arrogance, selfishness, injustice and poverty, Jesus offers rest, the rest with God who on the seventh day sees the goodness of creation complete, the restful joy when our true nature is realized. As St. Augustine from personal experience pointed out, our hearts are restless until they rest in God. We have to yoke ourselves to Jesus, learning from Him through the process of discipleship how to live in harmony with neighbor, our nature, God, and ourselves. In loving communion with our compassionate Lord, His burden is light, His yoke easy.

Join me in meditating on the Word of God every

Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

the country’s reputation as the world’s biggest rice importer. The big losers: palay farmers and small town rice traders, millers and viajeros.

Now that Covid-19 is here, the government realizes the vital importance of asserting its role as importer under government-to-government arrangement, as rice distributor and as facilitator in the rice supply chains. So why beat around the bush by asking the PITC to do the rice importation for government?

Why not restore some of the functions of the National Food Authority? Why not amend the law in support of a more balanced program of rice modernization that is beneficial to domestic rice producers and consumers? Why not emulate what China, India, Indonesia and South Korea have been doing? These countries are all rice producers and yet resort to importation to maintain a buffer stock to meet domestic shortfalls. But they do rice importation under strict guidelines based on the framework that importation shall not subvert domestic producers, shall not sacrifice consumer interests and shall not create private monopolies in the rice business.

On trade-production policy coherence, DA, DTI, Neda and the Department of Finance should have a unified development approach. What we mean here is that if the policy is to promote rice self-sufficiency with allowance for limited rice importation, all these agencies should work as a team to make this happen. One agency cannot be focusing on enhancing domestic rice production, while another is allowing rice imports to flood the domestic market.

Thus, it is ironic that while Agriculture Secretary William Dar has been talking of “plant, plant, plant” and rice modernization, officials in the Bureau of Customs, which is under the DOF, have been very lax in monitoring and evaluating the volume and amount of imported rice entering Philippine ports.

Raul Montemayor, National Manager of the Federation of Free Farmers, wrote (June 23) Secretary Carlos Dominguez regarding the Federation’s finding on the undervaluation of about 29 percent of rice imports in 2019 involving around 2.4 million tons of rice. The undervaluation happened because the FOB prices declared by the shippers-importers were used instead of the BOC reference rates.

This undervaluation system, Montemayor explained, has continued to 2020.

Montemayor has identified other problems: the undervaluation of freight and insurance costs, application of the preferential Asean tariff rates on rice coming from non-Asean countries such as India and Pakistan, erroneous grade classification of rice imports, and poor establishment of standard reference rates. Because of the foregoing, Montemayor estimated that the government lost around P2.8 billion in tariff revenues from March 2019 to May 2020.

This is a huge amount, which could have gone a long way in contributing to the program of agricultural modernization at home.

The point is that in agricultural development, a unified approach among government agencies is a must.

A8 Thursday, July 2, 2020

Cops’ killing of 4 Sulu soldiers sparks restiveness on the ground

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By Rene Acosta

@reneacostaBM

ILITARY officials are moving to calm down the divisionsized troops deployed in Sulu in the aftermath of the “killing” of four soldiers, including two Army junior officers, by members of the Jolo Municipal Police Station.

Defense Secretary Delfin Lorenzana said emotion still runs high over the death of the four soldiers on Monday in what the police claimed was a “misencounter,” but which Army chief Lt. Gen. Gilbert Gapay has called a “murder” or “rubout.”

“The event happened just the other day and emotions are high among the Army troops. The Army leadership in Sulu [is] trying hard to calm their people while the inquiry is going on,” said Lorenzana, who earlier described the incident as “unfortunate.”

The defense secretary said the principle of command responsibility must stop “somewhere” following the call of Gapay for the administrative relief of the chief of police of Jolo and the provincial

director of Sulu.

“While there is the principle of command responsibility, it must be carefully determined how high in the hierarchy should accountability be. It has to stop somewhere,” he said.

The defense chief said it would not be good to speculate on what happened, given the conflicting reports of both sides, which should allow the National Bureau of Investigation to conduct and finish its investigation into the incident.

National Police chief General Archie Gamboa has given his personal assurance to Armed Forces Chief of Staff General Felimon Santos Jr. that the police will cooperate in the ongoing probe, with the involved policemen already been dis-

armed of their guns and restricted to quarters.

Both Gamboa and Santos are in Cebu on Wednesday attending the meeting of the regional interagency task force, which is working on ways to contain the increasing number of Covid-19 cases in the province that is under enhanced community quarantine.

NBI in charge

THERE had been speculation that the policemen may have interfered with the mission of the soldiers, who were tracking alleged suicide bombers.

“I have talked with General Gamboa and his commitment is full cooperation with the investigation of NBI as we agreed. All suspects are already under PNP’s custody. We will wait for the findings of NBI,” Santos said.

“The AFP will also determine if there are SOPs [standard operating procedures], and other system violated and improve the same to avoid similar incidents,” the top military chief said.

The Army believed that its four men were killed by the policemen, who had earlier flagged them down at a checkpoint and directed to proceed to the Jolo police station for further verification, which the soldiers did.

Gapay described the incident as a rubout and not a misencounter, citing initial reports and the confluence of events before and after the alleged “shootout” as earlier claimed by the Jolo police.

Lorenzana understood the outbursts of the Army chief.

“He is just repeating the reports he got from our people on the ground,” he said.

Echoing the line of Gapay, Army spokesman Col. Ramon Zagala said the involved policemen may be covering their acts over the incident as he cited circumstances and even procedures, which they failed to follow before and after the death of the soldiers.

“Our commanding general has already said that the report is inaccurate, misleading, to a point, he even called it fabricated because within an hour they were able to send it out,” Zagala told ANC, referring to the report by the police.

Senate probe sought

THE Senate was urged to initiate an investigation into the incident.

Sen. Francis Pangilinan said in a statement, “This incident is alarming. The anti-terror bill is not even a law yet now, and things like this happen. What is the recourse of ordinary citizens” who may be victims of abusive authorities, as

critics of the enrolled bill fear.

“An independent and impartial investigation will help bring out the truth so that the victims and their families find justice,” he added.

Based on initial reports, Pangilinan noted at least two versions of the incident are coming from the military and police.

According to one, the slain four Army intelligence men, including a major and a captain, were trying to locate a suspected foreign suicide bomber believed to be with the local Abu Sayyaf Group when their vehicle was stopped at a police checkpoint in Jolo.

Despite identifying themselves and clarifying that they were not hostile forces, police personnel still fired at them.

The other version from the police report narrates that Jolo policemen were on patrol with anti-illegal drug agents in Barangay Bus-Bus when they spotted an SUV with four armed men, who later fled. Before the men could pull the trigger, the police shot at them in defense.

“This incident is disturbing because it appears that the police are quick in pulling the trigger without careful judgment. If they can do this to their fellow uniformed men, how much more to the ordinary civilians who are unarmed and defenseless?”

Pangilinan said.

FE DEL MUNDO MEDICAL CENTER’S NEW PCR LABORATORY NOW OPEN

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HE Fe Del Mundo Medical Center (FDMMC), located along Banawe Street, Quezon City, opened its PCR testing services to the public in its Molecular Diagnostic Laboratory starting June 25, 2020.

FDMMC said it is ready to serve all individuals, companies, and hospitals who need RT-PCR testing

SOUTHWEST MONSOON AFFECTING THE WESTERN SECTION OF NORTHERN LUZON. as of 4:00 am - July 1, 2020

for Covid-19 screening.

The PCR laboratory is certified by the Department of Health, World Health Organization and the Research Institute for Tropical Medicine, with highly trained and experienced doctors and staff running it. The laboratory is a collaboration project of Mount Grace Hospitals Inc. and Unilab Inc. to help the country expand testing capacity for Covid-19.

Fe Del Mundo Medical Center is a tertiary multispecialty medical center located in the heart of Banawe, Quezon City. FDMMC is the designated CovidAccepting Hospital (COVAH) of Mount Grace Hospitals Inc. which is a member of the United Laboratories Group. www.fedelmundo.com.ph.

274 OFW bodies in KSA to be flown home

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HE Department of Labor and Employment (DOLE) is targeting to bring home the 274 remains of overseas Filipino workers (OFW) in the Kingdom of Saudi Arabia (KSA) this week.

This number is lower than the 301 remains it earlier announced for repatriation, as Philippine authorities raced to comply with a 72-hour deadline given by KSA to bring them home, otherwise, they will be buried in the Kingdom.

Of the 301 remains, 149 died from natural causes, while the remaining 152 succumbed to Covid-19. However, four bodies of those who died from natural causes, were already repatriated by their loved ones, Labor Secretary Silvestre H. Bello III said in an online press briefing on Wednesday.

Of those who died from Covid-19, he said 23 were already buried in KSA. Bello said they are targeting to bring home the 274 bodies before the deadline set by the Saudi government to repatriate the said remains on Saturday.

“We should be able to bring home the remains

by July 4 [2020] or they will be buried by the Saudi government,” Bello said.

“So we are doing our best to meet all the protocols for the exit visa, permission from the employers, and kin [of the OFWs] before July 4,” he added.

For the remains of the Covid fatalities, Bello said stricter sealing and disinfection protocols will be applied while they are being transferred back to the country.

He said the remains will be immediately cremated upon arrival in the country in compliance with the recommendation of the Department of Health (DOH). Samuel P. Medenilla

Financial firms ink accord to help in 2nd-tranche SAP disbursement

By Tyrone Jasper C. Piad

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@Tyronepiad

EVERAL financial institutions signed a multilateral agreement to disburse the second tranche of cash assistance under the government’s social amelioration program (SAP).

Union Bank of the Philippines, GCash, PayMaya, Rizal Commercial Banking Corp. (RCBC), Robinsons Bank and Starpay sealed the deal with government agencies—Department of Social Welfare and Development (DSWD) and Land Bank of the Philippines—this week.

The agreement says that LandBank will release funds to be distributed to the public to the financial service providers.

The participating firms, meanwhile, will credit the financial assistance to the beneficiaries’ restricted transactional or nominated accounts after receiving the

funds from LandBank.

UnionBank said it will be disbursing funds to 1.36 million beneficiaries out of the 7.124-million total SAP recipients.

The Aboitiz-led bank will start the release of cash subsidies next week in cooperation with its digital bank EON Bank, fintech subsidiary UBX and fintech partner Dragonpay.

“This latest undertaking is in response to the government’s call to provide a safe, efficient and transparent distribution of the emergency subsidy under the SAP, and aligned with UnionBank’s goal to be readily accessible to the most number of Filipinos,” UnionBank President Edwin Bautista said.

In a separate statement, RCBC said it was set to release around P4.6 billion in emergency cash assistance to approximately 800,000 recipients via disbursement platform DiskarTech Lite.

“The process has especially been

designed to be easy and safe for the benefit of the people and the government,” said Angelito M. Villanueva, executive vice president and chief innovation and inclusion officer of RCBC. DiskarTech has teamed up with rural banks, cooperatives, pawnshops, lending center and microfinance institutions, among others, to deliver offsite payment for the government subsidies.

It will be available in Pangasinan, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, Batangas, Cavite, Laguna, Albay and Cebu.

“This promotes greater financial inclusion as it gives the SAP beneficiaries restricted transaction accounts which they will use moving forward to save, pay bills, and receive any future subsidy in an efficient manner rather than a one-time transaction for disbursement,” DSWD Secretary Rolando Bautista said.

www.businessmirror.com.ph

Companies BusinessMirror

Thursday, July 2, 2020

B1

PSE Q1 income plummets due to slow trading activity

By VG Cabuag

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@villygc

he Philippine Stock Exchange Inc. (PSE) on Wednesday said its income in the first three months of the year fell 71 percent to P50.62 million, from last year's P175 million.

The operator of the equities trading market said the fall was mainly as a result of the drop in other income on lower fair value of investments and the decrease interest income.

“The Covid-19 pandemic definitely affected our revenues for the quarter. Investors opted to be

liquid and hold on to cash, hence, the slowdown in trading activity particularly during the enhanced community quarantine period in Metro Manila and Luzon. Issuers also opted to put on hold fund raising plans,” PSE President and CEO Ramon S. Monzon said.

Operating revenues for the first

quarter was P294.72 million or flat from last year's P295.8 million recorded on lower trading-related fees.

Expenses for the quarter were reduced by 12 percent to P142.56 million, from P161.82 million recorded during the January-to-March period last year on lower operational and administrative costs.

“Meeting our original target for capital raising will be quite a challenge as most companies would probably be reducing their capital expenditures and defer their expansion plans for the rest of the year. The only silver lining would be if banks become more strict and selective in their lending policy and listed companies who need funds have no choice but to raise the same from the equities

market,” Monzon said.

“In terms of trading, we noted brisk trading activity in June. We hope this will be sustained in the coming months. But overall, we think that investors will remain cautious as uncertainties from Covid-19 remain. They are also waiting for second quarter numbers of listed firms for a more concrete picture on how the pandemic impacted operations and consequently, revenues of companies."

The PSE is currently reviewing its listing rules to make fund raising in the stock market more accessible to companies. The company is also looking at potential digital services that can be introduced as a response to the new business landscape due to the impact of the pandemic.

Benchmark index drops in H1 on virus worries

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he benchmark Philippine Stock Exchange index (PSEi) dropped more than 20 percent in the first half of the year, as the Covid-19 pandemic felled the market in the first quarter.

T he ma in inde x c losed at 6,207.72 points on June 30. Quarter on quarter, however, the PSEi rose by 16.7 percent. It has also rebounded by 34 percent from its lowest closing level for the year of 4,623.42.

“While the index may have recovered from oversold levels it has

not been able to climb back to its pre-Covid-19 levels indicating that investors are still quite wary about the full impact of the virus on the economy and are concerned that the number of cases continue to increase despite the various community quarantine regimes we went through,” PSE President and CEO Ramon S. Monzon said.

All sectoral indices were also down during the first half. The Services sector declined by 8 percent while the remaining sectors posted double-digit losses at the end of the

semester, ranging from 15 percent to 35.6 percent.

Daily average trading value turnover was at P6.59 billion at the end of the first half, lower by 16 percent, from the P7.84 billion average turnover in the same period last year.

Foreign funds were net sellers at P68.44 billion, a reversal from the P21.26 billion net foreign buying registered at the end of June 2019.

Capital raised from the Januaryto-June period was P20.83 billion, mainly from one initial public of-

fering, one follow-on offering, one stock rights offering and two private placements.

“After the successful IPO [initial public offering] of MerryMart Consumer Corp. and the listing by way of introduction of Altus Property Ventures, Inc. in June, we hope to have two to three more capital raising activities for the rest of the year.

Hopefully, these two new listings will help prop up trading activity even as we await the listing of the first REIT [real estate investment trust] IPO,” Monzon said. VG Cabuag

Asia United Bank declares cash dividends

Megawide to sell preferred shares

By Tyrone Jasper C. Piad @TyronePiad

A

sia United Bank (AUB) announced on Wednesday that it declared cash dividends worth P970 million to its stockholders.

In a disclosure, the listed bank said each share will receive a P2 cash dividend.

It will be paid out in two tranches on July 30 and October 15.

The last time AUB declared cash dividends was in May last year. It paid a total of P1.80 each share in July and October 2019.

“Coming from our banner year for the bank that was 2019, we carried our success onto a strong commencement of 2020,” AUB President Manuel A. Gomez said. "Amidst competition, AUB’s core businesses remain strong and robust.”

In the first quarter, AUB saw its net income rise by 7.45 percent to P1.18 billion, from P1.10 billion a year ago on the back of robust interest and operating income.

Interest income climbed by nearly 9 percent to P3.67 billion while operating income increased by 12.65 percent to P3.07 billion for the period.

Interest expense, meanwhile, slid by 24.53 percent to P903.3 million and total operating fees rose by 7.09 percent to P1.52 billion in the first quarter.

Loans and receivables improved by 12 percent to P172.1 billion in the first three months from P153.9 billion a year ago. Total deposits registered a 16-percent uptick at P217.2 billion for the period.

As of end-March, the bank's total assets, liabilities and stockholders’ equity stood at P273.84 billion, P239.96 billion and P33.88 billion, respectively.

This year, AUB is committed to fund its capital expenditures for branch expansion, information technology infrastructure and other corporate matters.

“We continue to adapt to the swiftly changing economy and new way of life as we consistently improve our services and strive to remain relevant to customers in this ever-growing digital economy,” Gomez added.

AUB shares inched up by 0.21 percent, or 10 centavos, to close at P47.50 apiece amid the 0.03-percent rise for the benchmark index on Wednesday.

Photo from Megawide.ph

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egawide Construction Corp. on Wednesday said its board has approved the issuance of up to 50 million series 2 preferred shares, which it will offer to the public.

The company said it is still in the book building process for the issuance of the series 2 preferred share offering, but it plans to offer at a maximum price of P100. The maximum amount that it can raise from the offering will be at P5 billion.

Megawide’s share price closed at P7.33 per share on Wednesday.

In its disclosure to the Philippine Stock Exchange, the company said it will also issue some 13.5 million series 3 preferred shares to its energy unit Citicore Holdings Investment Inc. as its subscription to the

increase in the company’s authorized capital stock.

The company has been bagging numerous public-private partnership projects since the previous administration.

Edgar B. Saavedra, the company's chairman and CEO, said in the immediate term, the company is looking to build a stable revenue stream by entering new segments and increasing manufacturing capacity though the pre-cast technology.

“In the long run, we aim to stabilize and consistently increase our returns to support a healthy dividend payout and eventually mature into an attractive dividend-paying stock,” he said.

In terms of construction, Saavedra said the company’s proprietary

precast technologies will be the benchmark with its functionality and suitability to new occupational safety protocols.

“We anticipate greater demand for precast technology to fast track infrastructure developments and address the country’s six million housing backlog, aside from the acceptability of precast in new normal protocols at construction sites,” he said. “In 2019, external sales accounted for 40 percent of our pre-cast business and contributed significantly to our construction revenues. Moving forward, we aim to triple our pre-cast capacity to expand its application to infrastructure and housing developments and potentially generate more external sales.” VG Cabuag

B2

Thursday, July 2, 2020

Companies BusinessMirror

‘Value of M&A deals doubled in 2019’

By Elijah Felice E. Rosales

T

@alyasjah

he Philippine Competition Commission (PCC) received a total of P812 billion worth of merger and acquisition transactions last year, doubling the value of M&As filed with the antitrust body from 2018.

In its 2019 Annual Report, titled “Keeping Unfair Competition in Check,” the PCC disclosed it received 46 merger and acquisitions last year.

Of this, the agency approved 30 and prohibited the consummation of one, namely, the merger of two sugar millers in Southern Tagalog.

The 46 notifications for M&As

translated into P811.61 bi l lion worth of transaction value based on PCC records.

Broken down, 11 of the notifications came from manufacturing, followed by nine in electricity, gas and steam industry; eight in realestate activities; five in financial and insurance activities; and three in mining and quarrying, as well as in wholesale and retail trade.

In terms of value, real-estate activities accounted for nearly half of the total at P383.7 billion. Mining and quarrying came in second with P129.23 billion; electricity, gas and steam in third with P117.36 billion; manufacturing in fourth with P99.17 billion; and financial and insurance activities in fifth with

P25.43 billion.

“The number of notified M&As was 22 percent higher than in 2018, but the total transaction value had almost doubled. The sectors with the most number of notified transactions in 2019 were manufacturing, electricity and gas, real estate and finance and insurance,” the PCC report read.

In sum, the PCC had received 204 M&As with a cumulative amount of P3.3 trillion from 2016 to 2019. It approved 188 of these transactions, blocked one, is presently reviewing nine, while six had not been refiled.

According to the report, the antitrust completed all of its merger and acquisition reviews within the required timetable under the law.

mutual funds

Last year the agency averaged 21 calendar days in finishing the 30day phase one review and 52 calendar days in concluding the 60 day phase two review. The PCC boasted this to be part of its actions to fulfill its merger review mandate while at the same time promoting the ease of doing business.

Meanwhile, the PCC also reported that the total amount of fines it slapped last year hit P114.6 million, which is quadruple than the penalties it imposed in 2018.

According to the agency, it already collected P40.9 million of these fines from 2019. Since its establishment in 2016, the antitrust has issued fines totaling P162.3 million and collected a sum of P72.6 million.

July 1, 2020

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 203.55 -23.75% -9.15% -5.45% -19.19% ATRAM Alpha Opportunity Fund, Inc. -a 1.0409 -37.04% -13.17% -5.52% -24.68% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.7603 -33.07% -13.57% -7.57% -24.96% Climbs Share Capital Equity Investment Fund Corp. -a 0.6993 -26.91% n.a. n.a.

-22.05% First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.6775 -23.01% n.a. n.a.

-20.23% First Metro Save and Learn Equity Fund,Inc. -a 4.3557 -20.93% -7.59% -5.05% -18.25% First Metro Save and Learn Philippine Index Fund, Inc. -a,4 0.6895 -22.19% -10.17% n.a. -19.22% MBG Equity Investment Fund, Inc. -a 79.13 -35.02% n.a. n.a.

-23.42% PAMI Equity Index Fund, Inc. -a 40.9499 -22.41% -7.4% -4.24% -20.15% Philam Strategic Growth Fund, Inc. -a 437.56 -20.35% -6.77% -4.56% -17.87% Philequity Alpha One Fund, Inc. -a,d,5 0.9008 n.a. n.a. n.a.

-12.55% Philequity Dividend Yield Fund, Inc. -a 1.0331 -22.8% -7.16% -4.14% -19.72% Philequity Fund, Inc. -a 30.4079 -22.47% -6.69% -3.83% -19.76% Philequity MSCI Philippine Index Fund, Inc. -a 0.8067 -23.75% n.a. n.a.

-20.76% Philequity PSE Index Fund Inc. -a 4.1709 -22.08% -6.9% -3.57% -20.15%

698.21 -21.9% -6.86% -3.76% -19.94% Philippine Stock Index Fund Corp. -a Soldivo Strategic Growth Fund, Inc. -a 0.6383 -31.83% -10.62% -7.69% -25.03% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.2309 -26.1% -8.18% -4.97% -23.24% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.8018 -21.94% -7% -3.69% -19.88% United Fund, Inc. -a 2.9335 -22.07% -5.54% -3.04% -19.7% Exchange Traded Fund First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c 93.7199 -21.72% -6.37% -2.93% -19.87% ATRAM AsiaPlus Equity Fund, Inc. -b $0.9651 -3.71% -0.93% -0.95% -6.16% Sun Life Prosperity World Voyager Fund, Inc. -a $1.3573 4.77% 5.25% n.a.

-1.55% Balanced Funds Primarily invested in Peso securities ATRAM Dynamic Allocation Fund, Inc. -a 1.5561 -10.9% -4.23% -3.66% -0.43% ATRAM Philippine Balanced Fund, Inc. -a 2.073 -10.93% -4.17% -1.83% -4.96% First Metro Save and Learn Balanced Fund Inc. -a 2.4388 -8.73% -2.38% -3.09% -7.32% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a,1 0.1878 n.a. n.a. n.a. -17.81% NCM Mutual Fund of the Phils., Inc. -a 1.8547 -4.79% -0.75% -0.36% -5.52% PAMI Horizon Fund, Inc. -a 3.5328 -6.18% -1.67% -1.42% -6.76% Philam Fund, Inc. -a 15.7238 -7.27% -2% -1.62% -7.29% Solidaritas Fund, Inc. -a 1.9393 -10.19% -3.2% -1.47% -8.77% -4.08% -2.73% -14.08% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.3198 -14.97% Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.956 -6.52% n.a. n.a.

-5.88% Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.8629 -15.55% n.a. n.a.

-13.4% Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.8385 -17.65% n.a. n.a.

-15.58% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8227 -17.82% -4.91% -3.84% -15.6% Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a $0.0384 2.73% 2.25% 1.62% 0.44% PAMI Asia Balanced Fund, Inc. -b $0.9799 -1.5% 0.21% 0.03% -5.59% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.8271 2.08% 3.74% 3.35% -2.14% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,3 $1.1074 0.37% 1.87% n.a.

-1.9% Bond Funds Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a 365.87 4.46% 3.11% 2.54% 2.26% ATRAM Corporate Bond Fund, Inc. -a 1.9422 2.25% 0.81% -0.03% 2.11% Cocolife Fixed Income Fund, Inc. -a 3.192 4.67% 5.12% 5.11% 2.43% Ekklesia Mutual Fund Inc. -a 2.3028 5.35% 2.99% 2.4% 3.5% First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4514 6.04% 3.43% 1.97% 3.91% Philam Bond Fund, Inc. -a 4.6467 11.13% 4.37% 2.75% 6.26% 1.2983 6.94% 4.13% 2.26% 3.31% Philam Managed Income Fund, Inc. -a,6 Philequity Peso Bond Fund, Inc. -a 3.9534 7.38% 4.3% 2.29% 4.36% Soldivo Bond Fund, Inc. -a 1.0283 9.37% 3.4% 1.73% 6.64% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1734 7.24% 4.68% 2.94% 3.17% Sun Life Prosperity GS Fund, Inc. -a 1.7437 6.02% 4.03% 2.42% 2.5% Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a $473.85 3.45% 2.44% 2.73% 1.2% ALFM Euro Bond Fund, Inc. -a Є215.33 -0.96% 0.57% 0.98% -2% ATRAM Total Return Dollar Bond Fund, Inc. -b $1.2197 3.05% 2.84% 2.53% 1.04% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0259 1.17% 1.32% 1.2% 0.39% PAMI Global Bond Fund, Inc -b $1.0708 -1.49% -0.24% 0.2% -2.23% Philam Dollar Bond Fund, Inc. -a $2.4442 4.35% 3.12% 3.11% 1.68% Philequity Dollar Income Fund Inc. -a $0.0605848 2.49% 1.94% 1.86% 0.45% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1808 3.15% 1.87% 2.47% 0.17% Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a 128.15 3.77% 3.21% 2.42% 1.88% First Metro Save and Learn Money Market Fund, Inc. -a 1.0415 2.64% n.a. n.a.

1.48% Sun Life Prosperity Money Market Fund, Inc. -a 1.2834 3.13% 3.04% 2.58% 1.49% Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.045 1.65% n.a. n.a.

0.75% Feeder Fund Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -b,d,2 $0.92 n.a. n.a. n.a.

-7.07%

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU).

1 - Launch date is September 28, 2019. 2 - Launch date is November 15, 2019. 3 - Adjusted due to stock dividend issuance last October 9, 2019.

4 - Renaming was approved by the SEC last October 12, 2018 (formerly, One Wealthy Nation Fund, Inc.). 5 - Launch date is December 09, 2019.

6 - Re-classified into a Bond Fund starting February 21, 2020 (Formerly a Money Market Fund).

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

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

July 1, 2020

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

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

46 97.9 71.4 21 7.21 37.45 8.71 16.92 20.95 48.15 16.94 104.2 54.25 0.68 17.7 2.43 0.93 0.29 0.57 161.1 1675 1.05

47.5 98 71.5 21.1 7.27 37.5 8.72 17 21 48.95 16.96 104.8 54.5 0.75 18.48 2.55 0.98 0.305 0.59 167.8 1710 1.07

47.85 98 71.9 21 7.37 37.4 9.1 17.4 20.1 48.3 16.96 103.1 54.75 0.71 17.5 2.51 0.99 0.295 0.59 167.8 1660 1.06

47.85 98.5 71.9 21 7.42 37.65 9.1 17.4 21.25 48.3 16.96 104.8 54.75 0.75 18.5 2.55 0.99 0.3 0.59 167.8 1675 1.07

46 97.25 69.6 20.1 7.17 36.9 8.72 16.9 20 48.15 16.92 102.5 54.25 0.71 17.5 2.4 0.98 0.295 0.56 161.1 1660 1.06

47.5 97.9 71.5 21 7.21 37.5 8.72 17 21 48.2 16.96 104.8 54.25 0.75 18 2.55 0.98 0.295 0.58 161.1 1675 1.07

94000 1740340 1232930 428900 792500 2108300 4700 5400 1724700 1500 12500 336100 1240 24000 292500 67000 15000 360000 447000 1040 10 50000

4326335 170216324.5 87735846.5 8695930 5728027 78961915 41589 92398 34811915 72305 211856 34874346 67425.5 17200 5307256 164770 14790 106300 256380 168766 16675 53300

-37113189.5 -19150543.5 -3946640 -590230 -30414515 -18632196 -16146 8375 -

INDUSTRIAL AC ENERGY 2.35 2.37 2.23 2.39 2.2 2.37 20094000 47018690 1.17 1.19 1.21 1.21 1.16 1.19 289000 339190 ALSONS CONS 27 27.2 27.1 27.2 26.5 27.2 318800 8570365 ABOITIZ POWER BASIC ENERGY 0.152 0.154 0.151 0.156 0.151 0.155 230000 35160 25 25.05 25 25.45 24.8 25 3201500 80064865 FIRST GEN FIRST PHIL HLDG 61.3 61.5 61.25 61.5 59.6 61.3 63210 3855622.5 268.2 268.8 269 270.6 267.2 268.8 109630 29434156 MERALCO 12.74 12.76 12.88 12.88 12.52 12.74 2186900 27853472 MANILA WATER PETRON 3.08 3.09 3.09 3.1 3.07 3.08 532000 1640780 PETROENERGY 2.8 3.15 3.05 3.2 3 3 135000 406750 PHX PETROLEUM 11.32 11.44 11.44 11.44 11.1 11.44 141500 1618298 18 18.1 18.16 18.42 17.7 18 211900 3795998 PILIPINAS SHELL 8 8.03 8 8.04 7.9 8 168000 1333928 SPC POWER 14 14.98 14 14 14 14 100 1400 VIVANT AGRINURTURE 7.42 7.5 7.35 7.58 7.34 7.5 63000 467362 AXELUM 2.53 2.55 2.58 2.59 2.53 2.53 269000 687700 14.64 14.88 14.7 14.8 14.56 14.66 1728000 25354102 CENTURY FOOD 4.95 4.96 5.01 5.06 4.94 4.95 631900 3134427 DNL INDUS 8.33 8.34 8.28 8.33 8.28 8.33 480400 3987687 EMPERADOR SMC FOODANDBEV 68.6 69.5 69.45 69.5 68.2 69.5 329920 22883193.5 ALLIANCE SELECT 0.56 0.57 0.55 0.57 0.55 0.56 1510000 832910 1.27 1.28 1.31 1.35 1.24 1.28 18869000 24276780 FRUITAS HLDG 31.05 31.95 31.5 32 30.75 31.95 9500 295935 GINEBRA 143.7 143.8 140 144 139.5 143.8 706780 101082236 JOLLIBEE MACAY HLDG 6.34 6.86 6.8 6.86 6.28 6.86 1400 9066 MAXS GROUP 5.45 5.46 5.45 5.6 5.44 5.45 532700 2909789 MG HLDG 0.123 0.137 0.129 0.129 0.121 0.122 370000 45710 5.94 5.95 6 6.02 5.94 5.94 580700 3457404 SHAKEYS PIZZA 1.48 1.49 1.51 1.51 1.45 1.48 2212000 3274200 ROXAS AND CO 4.31 4.44 4.35 4.48 4.35 4.44 2581000 11228390 RFM CORP ROXAS HLDG 1.39 1.56 1.5 1.5 1.5 1.5 10000 15000 0.107 0.11 0.107 0.107 0.107 0.107 100000 10700 SWIFT FOODS 132.5 132.9 130.2 132.9 129.9 132.9 632450 83194477 UNIV ROBINA 0.87 0.88 0.88 0.89 0.86 0.87 9534000 8328940 VITARICH 54.2 57.55 54.2 54.2 54.2 54.2 60150 3260130 CONCRETE A CONCRETE B 53.25 61.3 51.5 52.9 51.15 52.9 23000 1216074.5 1.01 1.02 1.04 1.04 1 1.02 8496000 8601750 CEMEX HLDG EAGLE CEMENT 9.79 9.8 9.75 9.84 9.7 9.79 106800 1045900 5.1 5.12 5.05 5.1 5.01 5.1 529300 2679250 EEI CORP 6.57 6.58 6.52 6.7 6.51 6.57 1269100 8363303 HOLCIM MEGAWIDE 7.33 7.34 7.34 7.5 7.13 7.33 3045500 22225993 PHINMA 8.35 9 9 9 9 9 300 2700 0.72 0.73 0.72 0.72 0.72 0.72 21000 15120 TKC METALS 0.81 0.84 0.8 0.85 0.79 0.84 260000 209590 VULCAN INDL 1.75 1.96 1.93 1.93 1.93 1.93 2000 3860 CROWN ASIA 2.15 2.16 2.2 2.22 2.1 2.15 913000 1950950 EUROMED MABUHAY VINYL 3.66 3.69 3.68 3.69 3.68 3.69 9000 33140 CONCEPCION 20 20.95 20.95 20.95 20.95 20.95 100 2095 1.8 1.81 1.78 1.81 1.75 1.81 7009000 12479860 GREENERGY 5.79 5.8 6.1 6.15 5.76 5.8 440300 2590130 INTEGRATED MICR 1 1.02 1 1.05 1 1.02 250000 253960 IONICS SFA SEMICON 1.23 1.26 1.25 1.28 1.22 1.24 1218000 1513420 7.8 7.82 7.86 7.92 7.62 7.8 2379000 18490692 CIRTEK HLDG

-879140 -6496190 34562090 -1565651 -8700746 -4358674 404470 3050 -1160016 152566 -60829 7680 -7023122 -1618564 -279932.0002 -1594383 -132020 -93970 38817809 -1372 109614 9680 2507925 -520010 -61720 14131136 -223560 -4002690 -440644 176850 194405 -2114923 -25760 199130 -0 42160

HOLDING & FRIMS ABACORE CAPITAL 0.46 0.465 0.46 0.475 0.46 0.465 3130000 1453600 -283050 8.75 8.99 9.48 9.48 8.67 8.75 110300 975633 26280 ASIABEST GROUP 775 777 780 781 758 775 170120 130767410 -22186395 AYALA CORP ABOITIZ EQUITY 46 46.5 46.25 46.5 44.95 46.5 608400 27810520 -1639485 ALLIANCE GLOBAL 6.75 6.78 6.82 6.85 6.55 6.78 2581400 17344762 738658 AYALA LAND LOG 1.7 1.71 1.71 1.71 1.65 1.7 637000 1068750 6.15 6.22 6.15 6.15 6.15 6.15 300 1845 ANSCOR 0.455 0.485 0.465 0.465 0.445 0.445 140000 63850 ANGLO PHIL HLDG ATN HLDG A 0.55 0.56 0.55 0.56 0.54 0.56 852000 463120 5.44 5.45 5.06 5.44 5.06 5.44 32090200 165508370 3672055 COSCO CAPITAL DMCI HLDG 4.08 4.09 4.12 4.15 4.05 4.09 6959000 28,425,100( 11,527,120.0003) 8.23 8.28 7.95 8.26 7.8 8.22 82800 669635 -84150 FILINVEST DEV 3.02 3.45 3.45 3.45 3.45 3.45 10000 34500 FJ PRINCE A 0.17 0.182 0.18 0.182 0.18 0.182 100000 18100 FORUM PACIFIC GT CAPITAL 458.4 459 456 465 456 459 351880 162124876 -32185358 JG SUMMIT 64.3 64.8 64.8 64.85 62.05 64.8 1481230 94764391.5 -2036559 5.1 5.97 5.1 5.1 5.1 5.1 100 510 KEPPEL HLDG A 0.69 0.7 0.75 0.75 0.67 0.7 4607000 3200470 LODESTAR 2.74 2.76 2.73 2.79 2.73 2.74 919000 2538290 -40560 LOPEZ HLDG LT GROUP 8.03 8.04 8.05 8.34 7.84 8.04 3639100 29,148,015( 17,006,154.9996) MABUHAY HLDG 0.47 0.54 0.53 0.54 0.53 0.54 140000 74800 3.62 3.63 3.7 3.7 3.58 3.62 41387000 149791740 -76236350 METRO PAC INV 2.89 3 2.89 2.89 2.89 2.89 1000 2890 PACIFICA HLDG 0.85 0.86 0.81 0.88 0.81 0.86 1461000 1239990 1700 PRIME MEDIA SOLID GROUP 0.96 1 0.96 1 0.96 1 103000 102880 151 169 152 175 150 169 1320 227200 SYNERGY GRID 920 930 938.5 938.5 920 920 1115360 1045043810 931347390 SM INVESTMENTS 102.4 102.5 100.5 102.5 99.5 102.4 155620 15722375 3086523.5 SAN MIGUEL CORP 0.61 0.63 0.61 0.61 0.61 0.61 21000 12810 SOC RESOURCES 128 137 130 130 128 128 60 7700 1300 TOP FRONTIER ZEUS HLDG 0.131 0.137 0.132 0.137 0.13 0.137 2580000 338170 130500

PROPERTY

ARTHALAND CORP AYALA LAND BELLE CORP A BROWN CROWN EQUITIES CEB LANDMASTERS CENTURY PROP CYBER BAY DOUBLEDRAGON DM WENCESLAO EMPIRE EAST EVER GOTESCO FILINVEST LAND GLOBAL ESTATE 8990 HLDG PHIL INFRADEV CITY AND LAND MEGAWORLD MRC ALLIED PHIL ESTATES PRIMEX CORP ROBINSONS LAND PHIL REALTY ROCKWELL STA LUCIA LAND SM PRIME HLDG VISTAMALLS SUNTRUST HOME VISTA LAND

0.56 33.85 1.39 0.69 0.118 4.66 0.37 0.25 17.02 6.18 0.243 0.101 0.99 0.82 9.52 0.81 0.72 3.06 0.147 0.3 1.36 17.02 0.232 1.57 1.83 32.3 3.61 1.26 3.77

0.57 33.9 1.42 0.7 0.123 4.72 0.375 0.265 17.08 6.2 0.26 0.11 1 0.83 9.6 0.83 0.74 3.08 0.148 0.315 1.44 17.06 0.244 1.6 1.88 32.35 3.7 1.3 3.8

0.56 34 1.42 0.75 0.118 4.74 0.37 0.255 17.1 6.2 0.241 0.102 1 0.82 9.71 0.8 0.75 3.09 0.147 0.3 1.36 17.48 0.232 1.63 1.83 31.85 3.6 1.22 3.7

0.57 34.2 1.42 0.75 0.118 4.74 0.37 0.255 17.1 6.3 0.246 0.112 1 0.84 9.71 0.84 0.75 3.14 0.15 0.3 1.44 17.48 0.232 1.63 1.84 32.5 3.6 1.3 3.83

0.53 33.75 1.39 0.68 0.118 4.61 0.37 0.255 16.8 6.16 0.24 0.1 0.98 0.82 9.6 0.8 0.75 3.06 0.146 0.3 1.35 16.92 0.231 1.57 1.81 31.3 3.6 1.2 3.66

0.57 33.9 1.42 0.7 0.118 4.72 0.37 0.255 17.08 6.2 0.243 0.101 1 0.83 9.6 0.81 0.75 3.06 0.148 0.3 1.4 17.02 0.231 1.57 1.83 32.35 3.6 1.3 3.82

1204000 5877400 8790000 6931000 500000 2763000 1940000 50000 254300 39800 1940000 41860000 22453000 109000 17700 1034000 26000 13387000 3450000 510000 39000 1066500 60000 68000 43000 6131700 4000 2199000 988000

672490 199148145 12392560 4951520 59000 12981600 717800 12750 4326766 246696 473550 4212180 22307160 90020 170530 833890 19500 41251420 511490 153000 53600 18196160 13910 107420 78210 196626505 14400 2748280 3640800

-42470895 -4200 173340 53100 -1327480 -304198 -13551520 -2480 -31039.9999 -6204650 -9266162 29955365 -1459550

SERVICES ABS CBN 14.72 14.86 14.6 14.86 14.3 14.86 776500 11303124 4.97 5.02 5 5.17 4.87 5.02 1679000 8463670 GMA NETWORK 0.35 0.36 0.355 0.36 0.355 0.36 120000 42700 MANILA BULLETIN MLA BRDCASTING 10.52 12.98 13 13 12.98 12.98 3700 48094 2100 2106 2100 2128 2074 2100 45385 95426530 GLOBE TELECOM PLDT 1252 1258 1249 1264 1226 1252 104640 130893055 0.05 0.052 0.05 0.052 0.048 0.052 7610000 383100 APOLLO GLOBAL 2.8 2.91 2.8 2.81 2.8 2.81 11000 30810 DFNN INC DITO CME HLDG 3.77 3.78 3.76 3.83 3.63 3.77 55593000 207914920 ISLAND INFO 0.073 0.077 0.073 0.073 0.073 0.073 230000 16790 2.17 2.18 2.2 2.24 2.12 2.18 3760000 8127570 NOW CORP 0.173 0.177 0.175 0.177 0.169 0.177 970000 168340 TRANSPACIFIC BR 2.18 2.22 2.22 2.22 2.11 2.19 797000 1735550 PHILWEB 9.8 9.89 9.7 9.94 9.7 9.89 38900 381507 2GO GROUP ASIAN TERMINALS 15.36 16.8 16.8 16.8 16.8 16.8 300 5040 3.76 3.78 3.72 3.82 3.66 3.78 767000 2862700 CHELSEA 39.65 40 40.4 40.45 39.55 40 142600 5658915 CEBU AIR 100.1 100.2 102.3 102.3 99.5 100.1 632620 63355940.5 INTL CONTAINER 12.74 13.1 12.72 12.72 12.72 12.72 600 7632 LBC EXPRESS MACROASIA 6.35 6.36 6.61 6.68 6.21 6.36 4000200 25598529 METROALLIANCE A 2.25 2.26 2.3 2.33 2.15 2.25 2204000 4919630 2.18 2.29 2.29 2.29 2.29 2.29 1000 2290 METROALLIANCE B 6.55 6.75 6.8 6.8 6.4 6.55 20200 132341 PAL HLDG 0.79 0.84 0.81 0.84 0.75 0.79 409000 319480 HARBOR STAR BOULEVARD HLDG 0.024 0.025 0.025 0.025 0.024 0.024 23200000 559000 1.62 1.65 1.61 1.61 1.61 1.61 50000 80500 DISCOVERY WORLD 12.06 13.2 12.02 12.04 12.02 12.04 200 2406 GRAND PLAZA 0.4 0.405 0.38 0.415 0.375 0.405 2150000 867700 WATERFRONT 6.3 6.48 6.3 6.3 6.3 6.3 900 5670 CENTRO ESCOLAR 750 798.5 770 770 750 750 150 114905 FAR EASTERN U IPEOPLE 8.7 8.75 8.8 8.8 8.7 8.7 5400 47485 0.3 0.305 0.3 0.305 0.295 0.3 1100000 329150 STI HLDG 2.14 2.19 2.14 2.23 2.11 2.2 71000 151700 BERJAYA 7.41 7.42 7.43 7.45 7.28 7.41 7047800 52087231 BLOOMBERRY 1.86 1.99 1.85 1.86 1.85 1.86 79000 146530 PACIFIC ONLINE LEISURE AND RES 1.39 1.42 1.49 1.49 1.36 1.42 2086000 2907700 MANILA JOCKEY 2.5 2.71 2.51 2.51 2.5 2.5 5000 12540 2.49 2.6 2.7 2.7 2.45 2.6 205000 516980 PH RESORTS GRP 0.315 0.32 0.315 0.32 0.31 0.32 710000 222450 PREMIUM LEISURE 7.22 7.31 7.43 7.57 7.21 7.22 4680000 34303493 ALLHOME METRO RETAIL 1.57 1.58 1.59 1.6 1.57 1.57 2310000 3635570 PUREGOLD 46.3 46.35 46.4 46.4 45.5 46.3 684700 31624185 ROBINSONS RTL 64 64.05 65.75 65.75 62.55 64 577030 36962871 125 128.7 129 129 128.9 128.9 440 56738 PHIL SEVEN CORP 1.13 1.14 1.14 1.15 1.13 1.13 844000 961880 SSI GROUP 15.38 15.4 15.48 15.5 15.16 15.4 2101100 32200988 WILCON DEPOT APC GROUP 0.305 0.315 0.31 0.315 0.305 0.305 710000 219650 6.8 6.99 6.99 6.99 6.66 6.8 48700 333769 EASYCALL 280 300 281 281 280 280 70 19620 GOLDEN BRIA 4.15 5.69 5.8 5.8 5.8 5.8 500 2900 IPM HLDG 0.2 0.201 0.196 0.203 0.196 0.201 1620000 323920 PRMIERE HORIZON SBS PHIL CORP 4.69 5.05 4.65 4.67 4.65 4.67 5600 26132

-41842730 -23422515 2305300 -113870 -11160 -2435565 -16189358.5 -174590 642 -117450 -1484619 -1860 145580 50400 13533648 -308260 19972400 -24645476 -28380 -116240 -2368518 -

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PREFFERED ALCO PREF B 100.1 103.5 103.5 103.5 103.5 103.5 200 20700 100.5 101.5 101 101 101 101 34150 3449150 3302700 DD PREF FGEN PREF G 104.1 109 109 109 109 109 100 10900 1000 1010 1000 1005 1000 1000 1615 1615300 GTCAP PREF A 1010 1019 1010 1010 1010 1010 300 303000 GTCAP PREF B 100.5 101 101 101 101 101 10 1010 MWIDE PREF 1005 1012 1010 1016 1005 1005 930 939155 PNX PREF 4 PCOR PREF 2B 1011 1035 1035 1035 1035 1035 135 139725 1030 1050 1050 1050 1050 1050 1925 2021250 PCOR PREF 3A 1074 1075 1075 1075 1074 1075 185 198820 PCOR PREF 3B 78 78.2 78 78 78 78 730 56940 SMC PREF 2C 74.95 75.7 75 75 75 75 54840 4113000 375000 SMC PREF 2D 76 77.15 75.5 75.5 75.5 75.5 900 67950 SMC PREF 2E SMC PREF 2F 77 78.1 78 78.1 78 78.1 17700 1381100 -585000 SMC PREF 2G 75.6 77 75.6 75.6 75.5 75.5 39880 3012360 78 78.3 78 78 78 78 10 780 SMC PREF 2I

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 14.2 14.5 14.2 14.36 14 14.2 60700 856728 -124948 4.7 4.83 4.78 4.85 4.78 4.84 141000 681520 -198750 GMA HLDG PDR

WARRANTS LR WARRANT 0.69 0.7 0.68 0.7 0.68 0.7 49000 33840

SMALL & MEDIUM ENTERPRISES ALTUS PROP 42.1 43 36 59.8 33.5 42.1 23781300 1138207310 -15844170 2 2.01 2.09 2.09 1.96 2.01 6493000 13054760 392100 ITALPINAS KEPWEALTH 6 6.1 6.09 6.1 5.99 6 30700 185228 3.35 3.36 3.57 3.61 3.35 3.36 64986000 224195480 1454670 MERRYMART XURPAS 0.6 0.61 0.62 0.62 0.6 0.6 2037000 1226370 267000

EXHANGE TRADE FUNDS

FIRST METRO ETF 93.3 93.5 96.95 96.95 93.5 93.5 12920 1213688 9450

Editor: Eleanor Leyco-Chua

Health&Fitness BusinessMirror

Pitahc on ‘Tuob’:

FITNESS RULES

Further studies needed

T

By Claudeth Mocon-Ciriaco

uob is part of Filipino tradition which is widely used to relieve the symptoms of colds as part of primary health-care practice.

Tuob/suob or steam inhalation gained attention recently after a local province official in the Visayas swore by tuob to boost people’s immune system amid the threat of Covid-19.

However, the Philippine Institute for Traditional and Alternative Health Care (PITAHC) has recommended further studies to be done on the clinical efficacy of tuob for the prevention and/or treatment of patients who are probable, suspect, and confirmed cases of Covid-19.

Scientific studies suggest that steam inhalation is indeed effective against symptoms of colds and that it increases nasal patency.

In most recent Department of Health (DOH) statistics of active Covid-19 cases, 96 percent have mild symptoms of low-grade fever, colds, cough, and sore throat; 0.5 percent has severe symptoms; and only 0.1 percent is critical cases.

In a third world country, where resources are limited and accessibility and availability of health-care services are

areas of concern, traditional and alternative practices are the only affordable and available source of health care.

PITAHC, the main government agency whose mandate is to promote traditional and alternative health care as provided in Republic Act 8423, supports the use of tuob to alleviate the signs and symptoms of respiratory illness found common among Covid-19 patients. It is a safe remedy if done properly, but can possibly hurt otherwise.

“There are measures that we recommend for the beneficial use of tuob such as: individualized use of bowl and blanket or towel to prevent cross-infection; use of water with temperature not exceeding what is bearable to one’s skin; prevention of steam from making contact with one’s eyes,” according to the Pitahc’s statement.

One should also remember that if symptoms persist or worsen, he/she should seek medical attention. If steam inhalation is done on children, adult

supervision is required. Patients with facial lesions and infections are strongly discouraged from this practice.

The Pitahc stressed that tuob cannot be recommended as a standard care treatment for Covid-19 until it is proven by controlled clinical studies.

The public is still advised to observe preventive measures, specifically frequent handwashing, physical distancing, and the wearing of face mask, to mitigate the spread of Covid-19 virus.

No recommendation

The DOH, last week warned the public against possible harms of tuob - inhalation steam with salt, lemon, and other ingredients.

Undersecretary Maria Rosario Vergeire said there is no scientific evidence proving that tuob is a cure for Covid-19.

“The US Centers for Disease Control and Prevention and World Health Organization denied that it can treat the disease,” Vergeire said.

She added that health experts do not even recommend it, while stressing that the virus may even spread by doing it, “it increases nasal secretions spreading the virus further.”

She also warned of possible skin burns if not being careful.

The DOH official maintained that the best protection to prevent the spread of Covid-19 is still wearing of face masks, frequent and proper handwashing, ob-

serving physical distancing, and practice of proper cough etiquette.

On the other hand, recently, the Health&Fitness featured a story of a doctor who survived Covid-19 with the use of steam inhalation (hot and cold steam alternately). According to the story, steam inhalation can stimulate the monocytes and the macrophages for increased immunity.

According to Healthline.com, monocytes are a type of white blood cell that help fight bacteria, viruses, and other infections in the body. “Along with other types of white blood cells, monocytes are a key element of your immune response.”

Dr. Ananya Mandal in her article online, meanwhile, explains that “macrophage is a type of phagocyte, which is a cell responsible for detecting, engulfing and destroying pathogens and apoptotic cells. Macrophages are produced through the differentiation of monocytes, which turn into macrophages when they leave the blood.

Macrophages also play a role in alerting the immune system to the presence of invaders.”

Several medical studies showed when our body is exposed alternatively to hot and cold stimuli, the monocytes, macrophages and the natural killer cells in the body are activated and enhanced, thus, allowing our immune system to function at optimum level.

Thursday, July 2, 2020 B3

By Greggy H. Romualdez

What will reopened gyms look like under the new normal?

G

yms and fitness clubs have been one of the hardest hit by the Covid crisis and the subsequent suspension of operations.

As of this writing, Metro Manila still under a general community quarantine (GCQ), all major establishments have remained closed.

The Department of Trade and Industry has said that once regions transition to a modified GCQ, only then will gyms be allowed to reopen. Fitness buffs and gym warriors are waiting with bated breaths for gym doors to swing open so their active lives can go back to normal. The sweet sound of clanking iron, the infectious energy of group exercise classes, the rush of feeding off the energy of other like-minded individuals is something a lot of us are missing so bad.

But will our gym experience pre-Covid return to normal once gyms open under an MGCQ? Perhaps not in the immediate future.

The country’s major gym chains such as Anytime Fitness, Fitness First and Gold’s Gym have made similar pronouncements on measures to be taken the prevent the spread of the disease within their establishments.

For one, gyms will now be requiring advance bookings for members. Gone are the days when people could just walk-in anytime during gym hours and have their fill of the facilities. We can expect time limits for each visit. This, of course, is to manage the number of members in a given gym so people maintain a safe distance from each other.

Face masks will also be mandatory. This will be something that takes some getting

used to as masks, while protecting us from the spread of viruses, will lessen air intake to the lungs as compared to exercising without one. Less oxygen into our bloodstream and muscles will make exercise more difficult.

Whether doing cardio, lifting weights or even yoga, masks are likely to change our gym experience. So we can expect less intense workouts if we choose to exercise in most major gyms. In the interest of public health and as we move to eradicate this global pandemic, let us consider it a necessary sacrifice that we all must make for now.

Hand sanitizers and equipment disinfectants will be made widely available inside the facilities. Fitness First will have a no-contact policy between personal trainers and clients while Gold’s Gym wants its equipment to be at least 1 meter apart. Or when this isn’t possible, it may implement a rule to leave a piece of equipment vacant between two active users.

This new normal once gyms reopen may take some getting used to masked members, pre-booked visits, and less interaction with fellow members and personal trainers. Gone are the handshakes and high fives. Vigorous equipment wipe-downs before and after use, and short visits will be the norm.

This is something we must all get used to in order to have the privilege of working out in a fully equipped gym once these facilities open.

Let’s continue to do our share to end this global pandemic so we can return to the way things were at the soonest possible time.

By Susan Bowerman, M.S., RD, CSSD, CSOWM, FAND, Senior Director, Worldwide Nutrition Education & Training, Herbalife Nutrition

eat, the easier it will be to work in your daily servings of healthy foods like vegetables, fruits, and calcium-rich dairy products.

Use this opportunity to turn snacking into a healthy practice by preparing snacks that provide a mix of low-fat protein (like nuts, soy protein products or nonfat dairy foods) and healthy carbohydrates (like fruit, veggies and whole grains). The carbs will get digested first and satisfy your hunger right away and the protein will give your snack a bit more staying power.

Five Remarkable Health Benefits of Vitamin C V Snacking can be a good thing

itamin C plays a big role in keeping our body away from illnesses that weaken our immune system.

Historically, according to one of the articles of WebMD, vitamin C was used for preventing and treating scurvy. These days, vitamin C is most commonly used for preventing and treating the common cold.

It added that vitamin C helps you get rid of chemicals that cause damage inside your body.

Likewise, it helps offset the effects of pollution, cigarette smoke, sunlight and radiation, and even helps turn food into energy that could help keep things working better for longer and protect you from diseases, including Alzheimer’s and cancer.

Currently, the world is facing an enemy— Covid -19. While there is still no available vaccine or drug yet against the disease, we are encouraged to continue looking after our physical and mental health to aid our immune system.

To maintain a healthy lifestyle, you need to stay active and eat a well-balanced diet, according to the World Health Organization (WHO). It also pays to take food rich in essential nutrients like vitamin C. At least 75 mg of vitamin C every day for adults as per the Recommended Energy and Nutrition Intake (RENI), to help keep us strong and healthy. Fortunately, vitamin C is water-soluble and found in many fruits and vegetables, such as oranges, strawberries, kiwi fruit, bell peppers, broccoli, kale and spinach.

While it is commonly advised to get vitamin C intake from foods, many people turn to supplements to meet their needs.

For instance, FITn‘TRIM, a healthy drink that is also an alternative source of vitamin C and other nutrients for a healthier diet, has 75 mg (100 percent RENI) of vitamin C per sachet.

wounds and reduce inflammation inside and outside the body.

Studies have shown that vitamin C status is inversely related to body mass.

Individuals with adequate vitamin C status oxidize 30 percent more fat during a moderate exercise bout than individuals with low vitamin C status; thus, vitamin C depleted individuals may be more resistant to fat mass loss. In short, burning fat will be incredibly easy during workouts.

Good for the mental health

Aside from helping keep the body strong and healthy, taking the right amount of vitamin C also has other amazing advantages, as listed below:

A strong antioxidant

Vitamin C is a strong antioxidant, which serves as molecules that protect the immune system from harmful “free radicals.”

These harmful molecules can cause oxidative stress to the body when piled together and has been linked to numerous chronic diseases.

Studies show that Vitamin C increases the body’s antioxidant levels by 30 percent, which also helps the body fight off inflammation.

Lowers blood pressure

It is important for many Filipinos today since 2 out of 10 people are at risk of hypertension.

Vitamin C helps the kidney remove sodium and water from the body, which also helps the blood vessel walls relax and thereby blood pressure.

Lower blood pressure also means a healthy

heart, which lessens the chance of getting a heart attack or a stroke.

Prevents iron deficiency

Vitamin C acts as a diuretic, which helps the kidney remove sodium and water from the body, and also helps the blood vessel walls relax, thereby lowering blood pressure.

Lower blood pressure also means a healthy heart, which lessens the chance of getting a heart attack or a stroke.

This is important for many Filipinos today since 2 out of 10 people are at risk of hypertension.

Helps with physical health And weight loss

Exercise is still recommended, despite the need for people to stay and work at home to stay safe from the virus.

Alongside a balanced diet and a workout routine, vitamin C is a great addition to improve physical well-being.

It also improves the body’s ability to heal

Vitamin C is also a remedy and energy booster for mental health, especially that studies show people with higher levels of vitamin C are less likely to suffer from depression and fatigue.

It also helps improve memory and, with the ability to prevent inflammation and oxidative stress, it also helps reduce inflammation in the brain, spine, and nerves that can cause Dementia.

A source of vitamins and other nutrients

Aside from being a high source of vitamin C, FITN’TRIM is also a great drink to partner during workout routines or healthy diets.

As one of Santé’s premier organic health and wellness products, FITn’Trim has the brand’s signature organic pure barley grass powder, certified by BioGro, New Zealand’s leading organic certification agency.

It contains green tea and a zest of lemon flavor mixed with L-Carnitine that aids in increasing your metabolism, which triggers the reduction of body fat, helping you get rid of the unwanted baggage that weighs you so you can have a more positive and lighter life.

Claudeth Mocon-Ciriaco

‘Together We Are Stronger’ campaign benefits frontliners

I

n line with the fight against Covid-19, Green Cross Inc., one of the largest producers of rubbing alcohol and bleach in the Philippines, has rolled out its “Together We Are Stronger” campaign.

A total of 10,000 locally made, medicalgrade personal protective equipment were turned over by Green Cross Inc., to hospitals around the country in support of the country’s medical frontliners as part of its second round of donation drives for the month of June.

“Medical frontliners continue to need the support of the community. When we protect our frontliners, we also protect ourselves. We believe that their victory against this disease is ours as well. As we face the Covid-19 pandemic together, we hope to provide them with protection, through our PPE donations and our products,” said Michael Co, President,

Green Cross, Inc. For the National Capital Region, Green Cross selected Covid-19 referral hospitals with some of the lowest PPE coveralls inventory according to the Department of Health (DOH).

For areas outside Metro Manila, the company picked major hospitals in regions with the most number of positive cases.

Along with the Level 4 medical-grade PPE coveralls, Green Cross Inc. is donating Frontliner Protection Packages including Green Cross rubbing alcohol and Zonrox bleach for the use of hospital staff and for medical facility disinfection.

The company sourced the PPEs through the Confederation of Wearable Exporters of the Philippines (CONWEP), the group tapped by the Department of Trade and Industry to produce medical-grade protective gear.

Through this partnership, together with the Board of Investments, DOH and Philippine General Hospital, CONWEP developed a prototype that has met the strict requirements of DOH and PGH’s Hospital Infection Control Unit (HICU).

The prototype’s Level 4 grade is approved for use in high-risk Covid-19 situations, such as intubation, operating rooms, Covid-19 positive wards, and intensive care units.

“By sourcing the PPEs from CONWEP members, we are sure that we are providing reliable protection to our medical frontliners. More so, we are also helping stimulate local industries amid the ongoing pandemic,” Co said.

Among recipient hospitals are Tondo Medical Center, Dr. Jose Fabella Memorial Hospital, Quirino Memorial Medical Center, Bulacan Medical Center, Rizal Provincial Hospital Sys-

tem, Vicente Sotto Memorial Medical Center, Zamboanga City Medical Center, and Southern Philippines Medical Center.

Green Cross Inc. urged the public not to let its guard down even as community quarantine restrictions have been eased and many regions in the country have transitioned to general community quarantine.

“We believe the fight against Covid-19 is far from over, especially with the threat of a second wave happening. As an established company, we feel it is our duty to provide Filipinos with only the most reliable, highest-quality sanitation and hygiene products,” he added.

Co also encouraged everyone to do their part - remain vigilant through sanitizing, hand washing, disinfecting, and physical distancing, “as we work toward adapting to this new normal.” Claudeth Mocon-Ciriaco

M

ost of us are making more trips to the kitchen these days. In addition to simply being home more, there are a few reasons we may be eating more often—boredom, in need of a distraction, or perhaps to deal with something a little deeper, like anxiety or depression. In any case, the temptations to eat while stuck at home are heightened for all of us, which can create the potential for unhealthy consequences if we stray too far from our usual diets.

One reason snacking has such a bad rap is because so many common “snack foods” are high in fat, sugar, salt, and calories. Prior to the coronavirus pandemic, many healthconscious consumers already stayed away from these types of products; however, now people are stocking up on whatever is available at the grocery stores—changing the way we all eat. Even with these limitations, the important thing to remember is that choosing the right foods—even when we’re snacking—will allow us to maintain our health during these uncertain times.

While some people think all snacking is bad—probably because they equate “snacking” with “snack foods”—but I’ve always been solidly in the pro-snacking camp. For one thing, a small nutritious, balanced snack can help keep you energized between meals, and help control your hunger at mealtimes.

When the foods you choose are appropriate, if you are truly hungry, and if you’re able to maintain healthy snacking habits, that’s one less thing to worry about during this pandemic. If you’re worried about how much you’re eating throughout the day, here are five tips to help you snack smartly:

You may actually be dehydrated

Many of us will mindlessly walk to the cupboard and find something to nosh on thinking we need to feed a food craving. The truth is that you may actually be mildly dehydrated, and your body is really just craving fluids. Before you reach for the snack pour yourself a glass of water, or a sports drink with electrolytes, to see if that will help tide you over a little longer, or try a light watery snack, like a piece of fruit.

Healthy snacking can help you to work more nutritious foods into your day

Think of it this way: the more often you

Snacks can fuel your physical and mental energy

It’s actually normal to get hungry about every three to four hours. When you eat regular meals and snacks, it can help keep your blood sugar more stable throughout the day. That’s a good defense against between-meal dips in blood sugar that can sap your mental and physical energy.

Have that second lunch

A substantial afternoon snack can help control portions at dinner. Many people manage to control their eating pretty well during the day but when the day’s over and it’s time to relax, end up eating a huge dinner. For those folks, a larger afternoon snack—almost a small second lunch—makes it much easier to cut back at the evening meal. The afternoon stretch between lunch and dinner can be a difficult time, so having something a little more substantial like a protein shake, a cup of cottage cheese with some fruit, or even a low-calorie frozen meal. Then you can do your cutting back at dinner time. And, if after-dinner snacking is a problem for you, try brushing your teeth after dinner. It works as a great signal to stop eating.

Rethink your snacking habits

If you’re eating unhealthy, high-calorie foods like sweets, chips, and sodas keep in mind that these high-calorie snack foods can contribute to weight gain and they offer little if any, nutritional value. You also should think about the reasons you’re eating and identify whether it’s something other than hunger. If you tend to snack when you’re not hungry (maybe you’re bored, stressed, angry or tired), it’s a habit you might want to think about breaking. Think of other ways to deal with your emotions—take a walk, call a friend, write in a journal or spend a few minutes meditating. Taking a break for a few minutes will give you time to evaluate whether you’re truly hungry or not.

B4

Show BusinessMirror

Thursday, July 2, 2020

www.businessmirror.com.ph

UK judge says Depp broke court order in ‘Sun’ libel case

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Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Margot Robbie, 30; Alex Morgan, 31; Ashley Tisdale, 35; Larry David, 73.

Happy Birthday: You may be smart and talented, but you do need to take better care of your health and well-being this year. A fitness routine may not be your idea of a good time, but it will help build stamina that will offset illness and give you strength to reach your goals.

Adopt good habits, and press forward with intensity.

Your numbers are 9, 16, 23, 32, 36, 40, 48.

a

ARIES (March 21-April 19): Your emotions will be riding high and will need an outlet. Spending time with your lover or taking time to pamper yourself will help you put your emotional energy to good use. Invest time and money in something that offers long-term benefits. HHHHH

By Jill Lawless The Associated Press

ONDON—A UK High Court judge ruled on Monday that actor Johnny Depp violated a court order by failing to disclose evidence relating to his drug use to lawyers for British tabloid The Sun, which he is suing for libel.

Judge Andrew Nicol deferred a decision on whether to throw out Depp’s claim against The Sun as a result. He said he would rule as soon as possible.

Depp is suing the newspaper’s publisher, News Group Newspapers, and executive editor Dan Wootton over a 2018 article claiming the actor was violent and abusive to his ex-wife, Amber Heard.

Depp strongly denies being violent, and the emotionally charged case has drawn in celebrities including Depp’s ex-partners Vanessa Paradis and Winona Ryder and Heard’s former paramour Elon Musk. The trial is due to open at the High Court in London on July 7.

But The Sun’s lawyers argue the case should be dismissed because Depp failed to disclose text messages he exchanged with an assistant showing that he tried to buy “MDMA and other narcotics” while he was in Australia with Heard in 2015.

The newspaper’s lawyer, Adam Wolanski, said withholding the texts was a breach of a previous court order requiring Depp to provide all documents from separate libel proceedings against Heard in the United States. He said the lapse endangered the defendants’ ability to get a fair trial.

Judge Nicol ruled on Monday that Depp had breached the disclosure order, and found that “the Australian drug texts were adverse to the claimant’s pleaded case and/or were supportive of the defendants’ pleaded case.”

He did not immediately throw out the case, allowing Depp’s lawyers to argue why the trial should go ahead.

Depp’s lawyer, David Sherborne, said it would be “wholly disproportionate” to scuttle the case.

“The central matter in dispute in these proceedings is whether or not the claimant committed multiple acts of serious unprovoked physical violence during his relationship with Amber Heard, causing her significant injuries and to be put in fear for her life,” he said. “It is now time for the defendants to have to prove what they published.”

In court last week, Wolanski read out passages of Heard’s evidence in which she claims she was subjected to “a three-day ordeal of physical assaults”

by Depp while he took MDMA, also known as ecstasy, and drank heavily.

b

TAURUS (April 20-May 20): Think big, but don’t go overboard. It’s OK to have high expectations, but being realistic will ensure that you are heading in a direction that won’t disappoint you. Put your strategy in place before you take a leap of faith. HHH

c

GEMINI (May 21-June 20): Personal improvement will make you feel good, as well as build confidence. Set a goal that will encourage you to live a healthy, happy life. Proper diet, exercise and associating with like-minded people will help.

HHHH

d

CANCER (June 21-July 22): Anger is a waste of time. If you want to get the most out of your day, concentrate on a physical challenge.

Move your body more, and stop talking about people and situations that can fuel a fight. HHH

e

LEO (July 23-Aug. 22): Take on a challenge that will help you get into shape. Put in a call to an associate you have worked with; it will lead to a new opportunity. Do something for a friend, relative or neighbor in need of assistance. HHHHH

f

VIRGO (Aug. 23-Sept. 22): Stay calm, regardless of what’s going on around you. Acceptance and working with what’s available to you will show how adaptable you are. Be the one to offer guidance, solutions and understanding.

You’ll accomplish what you set out to do. HH

Depp, 57, and Heard, 34, met on the set of the 2011 comedy The Rum Diary and married in Los Angeles in February 2015. They divorced in 2017.

Each accuses the other of being abusive, and Depp is also suing Heard for libel in the United States.

At the High Court on Monday, Sherborne said Heard’s claims were undermined by the fact that she had had affairs with Space X founder Musk and actor James Franco while she was involved with Depp.

“Given that her case is that she was controlled and abused by the claimant and that she could not possibly have left him, that does not sit at all with the fact that she was having multiple affairs,” the lawyer said.

Depp and Heard are both expected to give evidence in person at the London trial, which was postponed from March because of the coronavirus pandemic.

The socially distanced trial is scheduled to last for three weeks. Witnesses are likely to include Depp’s ex-partners Paradis and Ryder, who have both submitted statements supporting the Pirates of the Caribbean star. n

Budgets put limits on social distancing options for schools Continued from B5 immensely with finances if the state eased guidance in place for the summer that there should be only one student on each seat of a bus. There are also unresolved questions about providing masks.

“Does every child need a mask?” she said. “What are our obligations to supplying those masks?”

The superintendent of Florida’s Miami-Dade County Public Schools district, one of the nation’s largest, said at a recent National Press Club panel that it was considering teachers’ and parents’ input on how to continue instruction in light of changes forced by the pandemic and the associated costs.

“Based on the demands of social distancing and precautions, there will not be enough money to have the old system back in a fully functional way,” Superintendent Alberto Carvalho said. AP

Overseas Filipinos sing alongside ABS-CBN stars in TFC music video SOME overseas Filipinos are featured alongside ABS-CBN stars in a music video as they give voice to the Star Music song “Ililigtas Ka Niya.”

TFC Middle East and Europe launched in April the “Ililigtas Ka Niya” music video campaign in line with TFC’s Kapamilya Virtual Hugs initiative which aims to uplift the spirit of overseas Filipinos and frontliners

z

around the world.

From the numerous videos submitted, 24 fans were chosen to be part of TFC’s “Ililigtas Ka Niya” music video. Some of the submitted videos were even part of the six batches of entries featured in the Sikat Playlist segment of “K World.”

In the music video, the voices of the Filipinos overseas are heard alongside

ABS-CBN artists Angeline Quinto, Ebe Dancel, Erik Santos, Gary Valenciano, Iñigo Pascual, Janella Salvador, Jason Dy, Jaya, Jayda Avanzado, Jay R, Jed Madela, Jessa Zaragoza, Jeremy G, Jona, Juris, KZ, Kyla, Lani Misalucha, Lea Salonga, Marlo Mortel, Martin Nievera, Moira dela Torre, Morissette Amon, Ogie Alcasid, Piolo Pascual, Regine Velasquez, Toni Gonzaga,

Yeng Constantino, Zephanie and Zsa Zsa Padilla.

The music video made its premiere on the June 19 episode of “K World.” It is also being played on TFC The Filipino Channel, ABS-CBN Middle East, TFC Europe, and Star Music Facebook pages, and TFC The Filipino Channel and Star Music YouTube channels. It can also be seen on emea.kapamilya.com.

g

LIBRA (Sept. 23-Oct. 22): Time spent pampering and taking care of your needs will help ease stress. Refuse to let anyone put demands on you. Stay focused on what makes you happy, not angry. Offer peace and love, and you’ll get something much better in return. HHHH

h

SCORPIO (Oct. 23-Nov. 21): Experience is the key to success. Observe, listen and ask questions when in doubt. Gather information that will encourage you to use your skills to excel.

Opportunity is within reach if you are willing to put in the extra effort. HHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Initiate your plans. Take action, and do your own thing.

Don’t rely on others. Concentrate on personal gain, looking your best and paying close attention to detail. Live passionately, be resourceful and do things your way. Romance is featured. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Incorporate change into your everyday routine. Put more effort into improving your environment and surroundings to fit your needs. Mix business with pleasure to ensure that everyone you love is included in your plans. A meaningful relationship will bring you happiness. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Make a positive change to the way you live and how you present yourself to the world. Greater discipline will help you stick to a healthy routine and encourage you to take on a trendy new look. HHHH

l

PISCES (Feb. 19-March 20): A helpful attitude will encourage others to do something nice in return. Choose your words wisely, and you will make a difference to someone who is in a position to offer good advice as well as solutions. HH Birthday Baby: You are excitable, engaging and clever.

You are aggressive and outspoken.

‘it all adds up’ by jeff eddings The Universal Crossword/Edited by David Steinberg

ACROSS 1 Basketball Hall of Famer Rebecca 5 “About time!”

11 Satisfied sound 14 Place Adam was banished from 15 Pie bases 16 ___ and Peace 17 Salmon hatchery robbery?

19 Run on TV 20 Range near Yellowstone 21 Shareable mini-clip 22 What a singer may dramatically drop, informally 23 Beam with happiness 25 Core exercise done with your pooch lying on your feet?

28 Lens issues 31 Sufficient space 32 Eerie writer, or the first three letters of his profession 33 ___ and tonic 35 Abbots’ subordinates 39 Supermarket employee’s physical?

43 Missing 44 Chimpanzee, e.g.

5 Lead-in to a texter’s view 4 46 Eye part that may be blue 48 Recliner feature 51 Preflight prep for a fast plane?

55 Brought action against 56 Bio printed posthumously 57 Maude portrayer Arthur 59 Speed for a replay 62 ___-com 63 Quick end of a relationship?

66 Hen’s mate 67 Draw forth 68 Lean slightly 69 UFO picture background 70 Stand for 71 Broiled sushi fish DOWN 1 Remaining 2 Slobbering comics canine 3 Likeliest prediction 4 Unhappily listening to music?

5 One of four in The Crucible 6 Calc prereq 7 Crystal clear 8 Request

9 Disco ___ (The Simpsons character) 10 Spice amt.

11 Eagerly expect 12 Three-line poem 13 Employment employee, informally 18 Canoodle, in the Cotswolds 22 Copycat 24 “That’s clear to us” 26 Tunneling rodents 27 Like your legs after leg day 28 Pet adoption agcy.

29 City by Arches National Park 30 Elton John title 34 Intel org.

36 “Sure thing!”

37 Caribbean liquors 38 Ladybug feature, often 40 Ocean’s Eleven crime 41 About, on memos 42 IRS form expert 47 Enters the game, as a fresh athlete 49 Source of inspiration 50 Give an account of 51 Summer denim wear, slangily 52 Volume with no mass?

53 Lassie’s companion 54 Place to purchase Purina 58 Kind of 60 Think (over) 61 Picks 63 Gave hay to, say 64 Newcastle Brown ___ 65 GPS output: Abbr.

Solution to yesterday’s puzzle:

Parentlife BusinessMirror

www.businessmirror.com.ph

Thursday, July 2, 2020

B5

Budgets put limits on social distancing options for schools AS schools consider how and when to reopen their buildings during the pandemic, many are finding themselves overwhelmed by the potential expenses that would come with operating under social distancing guidelines: protective equipment, staff for smaller classes and additional transportation to keep students spread out on bus rides.

The burdens loom large in particular for urban, under-resourced districts that often have neither the space nor the budgets to accommodate new health protocols. In Hartford, Connecticut, Superintendent Leslie Torres-Rodriguez shudders at the thought of how to afford a scenario where each teacher had dramatically fewer students. In some grades, she said, she has individual teachers with as many as 27 students in their classrooms.

“My budget would be nonexistent,” she said.

The vast majority of American school districts have yet to announce when they will resume inperson instruction. The trajectory of the outbreak remains uncertain, and many are waiting on direction from their states. Many are developing plans for at least some distance learning, and budgets are one of the factors that could determine how much they do from afar.

In Camden, New Jersey, one of the state’s poorest cities, Superintendent Katrina McCombs said costs for classroom cleanings, protective equipment and other virus-related expenses are a concern, especially because the city relies on cash infusions from a state government that is facing a $10 billion shortfall over the current and next fiscal years.

New Jersey has not yet issued guidelines for reopening schools, but McCombs said she hopes the governor leaves flexibility for big urban districts like hers, where families could be at especially high risk for exposure, given the number of multi-generational households. “I think the big thing that comes to mind right away...just thinking about those logistics of our city, I would hope that as the governor is rolling out those recommendations, they can take those unique factors into consideration, especially in our large urban districts,” she said.

As schools reopen, it will cost the average school district about $1.8 million to make social distancing possible, according to an estimate published by the School Superintendents Association, which goes by the name AASA, and the Association of School Business Officials International. The expense will strain budgets of districts that are bracing for cuts because of the economic downturn and hoping for additional federal aid.

“You have a significant increase in costs for school districts at a time when school districts are going to have less money. Why? Because you see all of the states’ budgets are going to be decimated,” said Dan Domenech, executive director of AASA. “How is that going to play out?”

In the town of Stonington, Connecticut, school board chairman Alexa Garvey said it would help

Continued on B4

Starting financial literacy young W

E are currently in the middle of this Covid-19 pandemic. For the first few months, we were educated on how to protect our health. Today, we tread on another issue: dealing with our financial situation. It made me think of how early I should prepare my kids in managing finances.

On June 16, Pru Life UK launched “Cha-Ching Kid$ at Home” online resources to help and encourage Filipino parents to teach key money management concepts to their children at home. This initiative was developed by Prudence Foundation (www. prudencefoundation.com), the community investment arm of Prudential in Asia and Africa.

According to the latest financial literacy report published by The Organisation for Economic Cooperation and Development, 94 percent of students said they get information about money matters from their parents. However, parents may not know how to best teach this subject to their children.

Designed for children aged between seven and 12, the “Cha-Ching Kid$ at Home” materials guide parents on teaching key money management concepts—Earn, Save, Spend and Donate—in an

interactive and engaging way. Based on the ChaChing curriculum, each guide directs parents to a relevant Cha-Ching music video, key topics for discussion, and activities to help their children put learning into practice.

The parent guides are downloadable for free from the Cha-Ching web site and can be viewed online or printed out.

In addition to the parents’ guide, Prudence Foundation is also rolling out Cha-Ching daily challenges, which include activities and discussion pointers, posted on the web site every weekday.

Each challenge takes approximately 15 minutes to complete, aiming to encourage parents to incorporate discussions around money with their children as part of their daily life.

The guides are in English and will soon be translated into Filipino.

“We noticed that the global Covid-19 pandemic has significantly changed the ways children learn and interact with their parents, and we understand the important role parents play in promoting the continued learning of their children. Through providing fun and engaging ‘Cha-Ching Kid$ at Home’ materials, Prudence Foundation aims to promote discussions around responsible money management skills among families in the region. This initiative is particularly relevant and important as many schools across the Philippines remain closed due to the pandemic,” said Prudence Foundation Executive Director Marc Fancy.

Meanwhile, the Cha-Ching web site also contains a resource center where teachers can easily access the digitized version of the Cha-Ching curriculum teaching materials for self-study or review. Educators can simply log onto the TEACHER section of the

Cha-Ching web site to download the curriculum’s master list of teaching aids, session implementation video guides, music videos, and comic books on their personal electronic devices. Cha-Ching teachers can also freely equip themselves with materials of the in-class and take-home activities that they can repurpose for their students.

This initiative will help expand the reach of ChaChing across the Philippines and promote moneysmart knowledge among students.

Cha-Ching is a financial literacy program designed for children aged seven to 12. It aims to instill the knowledge, tools and practices needed to help a child become financially responsible.

Cha-Ching is created as a series of music videos and comic books developed by Prudence Foundation in partnership with Cartoon Network and Dr. Alice Wilder, a renowned education specialist. The program comprises a structured school curriculum incorporating activity-based learning, and has been rolled out in Asia with Junior Achievement, one of the world’s largest youth-serving nongovernment organizations. The Cha-Ching Curriculum is currently being implemented in schools across Asia and Africa.

The Cha-Ching curriculum has been providing structured lesson plans for teachers since 2016. Over 10,000 teachers have been trained to deliver the curriculum, across eight locations in Asia and Africa, reaching over 500,000 students to date.

Thanks to Prudence Foundation, whose mission is to secure the future of communities by enhancing education, health and safety, thousands of schools in the Philippines, including a good cluster in Negros and soon in Bicol, are now starting financial literacy young. n

Keep calm and bake on Staying at home for the past months has brought out the inner baker in many of us. Even before the pandemic, baking has proven to be a therapeutic way of managing our fears and anxieties. And it isn’t just about enjoying something warm and delicious: baking involves all our senses and our full attention, forcing us to focus on the recipe and quiet our own inner dialogues. It gives us a semblance of control in times of uncertainty, not only during times such as these, but throughout all challenges in life.

That is why The Maya Kitchen (www.themayakitchen. com) encourages you to keep your newfound baking habit alive even as we gradually emerge from quarantine. Baking is not only meditative but it also unleashes our creativity, allowing us to express ourselves, experiment with substitutes, and troubleshoot baking problems right in the moment. It teaches us to be more patient as we wait for the dough to rise or the cake to bake perfectly in the oven.

Plus, baking allows us to bond and the make the most out of our time with our loved ones—over some delicious treats and new learnings, of course.

Baking and its sweet results simply bring people together and add joy to their lives, which is quite a feat in these times.

While at it, take your love for baking a bit further with these easy-to-follow recipes from The Maya Kitchen.

PANDESAL 2 teaspoons yeast 1 1/2 cups warm water 2 tablespoons sugar 1 teaspoon salt 2 tablespoons shortening 4 1/2 to 5 cups sifted Maya All-Purpose Flour

breadcrumbs, as needed Dissolve yeast in 1/4 cup of water. In a bowl, combine the remaining water, sugar, salt and shortening. Add four cups of the flour and the yeast mixture. Mix well, then transfer to a floured surface and knead until smooth and elastic. Use the remaining flour for dusting the table and your hands if the dough gets sticky. Place dough on a greased bowl, cover and let it rise until double in bulk.

Preheat oven to 350°F/177°C. Place risen dough on a floured surface. Flatten with your hands to form a rectangle about 16 x 3 inches. Starting at one end, roll up the dough with the right hand while sealing with the left hand to form a cylindrical strip of dough.

Roll in bread crumbs. Let it rest for 15 to 20 minutes.

Cut dough into pieces about 1 1/2-inch thick. Place in baking sheet cut side up. Let the dough pieces rise until light, for approximately 1 hour. Bake in the preheated oven for 15 minutes or until golden brown.

Yield: two to three dozens

Caramel Choco Fudge Brownies 1 pack MAYA Chocolate Fudge Brownies prepared according to package directions Caramel layer: 1/2 cup butter 1 cup light brown sugar 3/4 cup sweetened condensed milk 1/2 cup light corn syrup 1 pinch salt 1 teaspoon vanilla extract Chocolate ganache: 1/2 cup heavy cream 1/2 cup dark chocolate chopped Assorted nuts chocolate chips, for topping Instructions 1. Bake brownies according to package directions.

Set aside. In a nonstick pan, heat up caramel ingredients until thick (Softball stage 200-220°C).

Pour this over the prepared brownie.

2. In a microwavable bowl, heat up cream for about 30 seconds. Add in chocolate. Microwave in 20 second bursts until chocolate is melted and ganache is smooth. Spread top caramel layer. Top with desired nuts, chocolate chips and other toppings.

2. Set aside to set. Cut into bars. Serve.

Yield: 16 bars COFFEE HOTCAKES 1 pack Maya Fluffy n’ Tasty Original Hotcake mix 200 grams 1 piece egg 2 tablespoons oil ½ cup brewed coffee cooled (or dissolve 1-2 tablespoons instant coffee powder in 1/2 cup water)

unsalted butter maple syrup as needed Mix all ingredients in a bowl until slightly lumpy (do not over mix).

Pour 1/4 cup hotcake batter mix onto preheated, lightly greased pan or flat skillet (as much as possible, try to make your pancake round).

Cook until bubbly then turn to cook the other side.

Serve with butter and syrup.

Yield: five to six hotcakes Prep time: 5 minutes Cooking time: 15 minutes Like and follow The Maya Kitchen on Facebook and Instagram @TheMayaKitchen1 and follow us on Twitter @TheMayaKitchen.

Learn great recipes at www.themayakitchen.com. If you want to take your baking and cooking skills up a notch check out Maya Kitchen’s course offerings at the web site, e-mail contactus@themayakitchen.com, or visit The Maya Kitchen Culinary Center every Tuesday to Saturday at 8th Floor, Liberty Building, 835 A. Arnaiz Avenue (Pasay Road), Makati City or call 8892-1185 or 8892-5011, local 108 or 0929-679 6102.

THE four key money management concepts of the Cha-Ching curriculum: Earn, Save, Spend and Donate.

B6 Thursday, July 2, 2020

PPO holds pocket concerts online

Clients urged to schedule appointment to avoid walk-ins – CSC

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HE Civil Service Commission Central Office (CSC CO) based in Batasan Hills, Quezon City has launched a web-based application that allows its clients to schedule an appointment for its records management services.

Effective 6 July 2020, CSC CO clients can book an appointment through the Online Registration, Appointment, and Scheduling System (ORAS) to request for certification and/or authentication, or certified true copy, of the following records on file at the CSC CO: Career Service (Professional and Subprofessional) Eligibility Civil Service Eligibility Granted under Special Laws and CSC Issuance CSC Issuance (e.g. Memorandum Circular, Resolution, Decision) Statement of Assets, Liabilities and Net Worth (SALN) (for CY 2009 to CY 2018) Employee Record (e.g.

Appointment Paper for those who were assigned in agencies under the jurisdiction of the National Capital Region and Regional Office No. IV (Southern Tagalog) from CY 1980 to CY 1989, Statement of Service Record of former Civil Service Commission employees, Service Card in various agencies from CY 1930 to CY 1989).

It emphasized that transactions for the abovementioned services

must go through ORAS; thus, no walkin clients shall be entertained.

To use ORAS, a client must follow these steps: Register or sign up at https:// services.csc.gov.ph using any webconnected device such as a computer, laptop, smartphone, or tablet.

Log-in to your account and click the link provided for the instructions on how to use the system; and Select and confirm your appointment date and time.

The CSC said the launch of ORAS is in line with measures to prevent the spread of coronavirus disease-2019 or COVID-19, specifically by managing

the flow of clients and reducing their waiting time.

A number of CSC Regional Offices are also using online scheduling applications as part of public health standards against the COVID-19 pandemic. In an earlier announcement, the CSC has advised its clients to coordinate first with the CSC Regional/ Field/Central Office offering the service they wish to avail, to know the possible modes of transaction as well as the health protocols being implemented in the office.

The directory of CSC offices nationwide is available at www.csc.gov. ph/cscrod.

Big loyalty introduces big points expert character, BIGGIE

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N order to help BIG Members make the most of their BIG Points, BIG Loyalty introduced a ‘point expert’ character named ‘BIGGIE’. As the ‘sensei’ in all things BIG, BIGGIE is on a mission to educate BIG Members the smarter ways to earn BIG Points fast, and new ways to use BIG Points for greater rewards and savings.

BIGGIE’s ‘birth’ was inspired by BIG Loyalty’s very own point expert, Chief Financial Officer Sereen Teoh. Teoh is extremely savvy on ways to boost her points balance with every purchase. Her creative ways of stretching her money and maximising her BIG Points earning inspired us to create this cute and witty character to share her wisdom so that more people can benefit from the BIG Loyalty programme.

Small in size but BIG in personality, BIGGIE is playful, adventurous and is a deals hunter who can’t resist a bargain.

BIGGIE has superpowers that lie within a high-frequency antenna on the top of its head that is able to detect BIG Members who need help.

Spencer Lee, Chief Executive Officer of BIGLIFE Sdn Bhd, the company that operates the BIG Loyalty programme said, "The aim behind BIGGIE character was to help BIG Members become savvy rewards shoppers by providing tips and advice with a friendlier and cheeky approach.

With our large ecosystem of partners from the lifestyle, travel and financial services

categories, BIG Members can earn BIG Points every day when they dine, shop, bank, travel and more; and use BIG Points on experiences that they love. BIGGIE will always be there to support them every step of the way.” #MyBIGGIEBuddy Instagram Contest.

To kickstart the BIG journey, BIGGIE is giving away 500,000 BIG Points in the #MyBIGGIEBuddy Instagram contest from 29 June to 31 July 2020 (5 weeks). Simply follow the instructions below: Follow @airasiabig on Instagram, Post an Instagram story of yourself using BIGGIE GIF stickers (search ‘airasiabig’ under GIF in IG story), Mention @airasiabig on your story and hashtag #MyBIGGIEBuddy, 10 best submissions weekly will win 10,000 BIG Points each. Terms and conditions apply.

Follow us on Facebook, Twitter and Instagram to stay updated on BIG Points offers and tips from BIGGIE. Download the BIG Loyalty app, sign up as a BIG Member today and start living the BIG life! #EarnBIGLiveBIG

Globe joins UN in paying tribute to MSMEs economic contribution

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LOBE Telecom has joined the United Nations in paying tribute to the critical role that micro, small and medium-sized (MSME) enterprises play in providing decent jobs and economic growth as well as investments in industry, innovation, and infrastructure which are among the 17 Sustainable Development Goals (SDGs) that UN is espousing.

The UN has declared June 27 as MSME Day and in line with the celebration, Globe myBusiness launched the Saludo SME campaign which aims to honor the passion and successes of these businesses, their contributions to the nation, and their resilience amid the current crisis.

“Within the Ayala Group, we are working with a huge ecosystem of MSMEs. They deserve our attention especially at a time like this because they are absolutely critical elements of any economy. They are very vital to our success as an institution and we won’t be here today without the kind of support that the MSME community gives us,” said Jaime Augusto Zobel de Ayala, Globe Chairman and Ayala Corporation Chairman and CEO during the opening of Saludo SME’s Online Business Consultation Caravan.

At present, over 250,000 MSMEs surround the Ayala Group’s ecosystem. MSMEs also account for 99.5% of all registered businesses in the country, 63% of total employment and 35% of the Gross Domestic Product.

In return, Zobel said Globe would like to help address the pain points of MSMEs in the Philippines through mentorship, online classes, masterclass training, tips and advice from industry experts, business matching and co-marketing opportunities.

“Let me just assure you that Globe is here if you need support. We have to be united at a time like this. We have to help each other and we have to be a unit as we move forward. Then I have no doubt that we can go out of this successfully, healthily, and in a way that creates value to everyone,” he told the entrepreneurs.

On the other hand, Globe President and CEO Ernest Cu said that the company would also like to see the MSMEs transform and adapt into the new reality. Thus, Globe is looking at practices and digital innovations such as the cloud which can be applied to SMEs at a very costeffective manner.

“I think the cloud has truly democratized technology

because it enables SMEs to use the same platforms and the same systems that large enterprises use without the necessary need for capital expenditures. Subscription services are also available now so they can, for instance, store huge files without owning a humongous data center,” he said.

Globe is assisting MSMEs through Globe myBusiness which is running the Saludo SME: Para sa Bagong Bukas campaign until the end of July. This includes the online business consultation caravan which is a series of online learning sessions designed to help MSMEs adjust and navigate through new ways of doing business under the current situation. The caravan also has one-on-one consultations with industry experts on how MSMEs can continue their businesses despite the challenges they are currently facing.

The campaign also aims to rally the public to #SupportLocalSMEs in social media. By choosing to buy from local entrepreneurs, Globe myBusiness helps them keep their businesses afloat which in turn helps the Philippine economy. For more information about Saludo SME, visit https://mybusinessacademy.ph/.

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HE Philippine Philharmonic Orchestra will hold online performances consisting of three pocket concerts to uplift the minds and hearts of Filipinos in the midst of the quarantine period. The concerts will be streamed simultaneously on July 3, 2020 at 8pm, the first Friday of July through the CCP Website. New performances will be uploaded every first Friday of the month.

Billed as MUSIC FOR HEALING: PPO in Quarantine, the pocket concerts consist of PPO by your Bedside, PPO in your Workplaces, and PPO in your Living Room.

Each pocket concert, which runs approximately 35 to 40 minutes, will present 10 to 12 numbers of solo and ensemble performances by the members of PPO recorded from their respective homes.

PPO by your Bedside is comprised of Antonin Dvorak’s 4 Romantic Pieces op.

75 no. 1 - Allegro Moderato performed by violinist Berny Payte, Ennio Morricone’s Gabriel's Oboe played by oboist Jappy Bautista, Rodgers and Hammerstein‘s You'll Never Walk Alone interpreted by violinist Dino Decena and pianist Jascha Decena, Hillsong Worship’s What a Beautiful Name played by violinist Angelica Uson; J.S. Bach’s Air on the G string rendered by String ensemble players Jose Carlo Tuazon, Berny Dulce Payte, Joy Allan Dela Cruz, Giuseppe Diestro, Aris Payte III; Secret Garden’s Sometimes When it Rains performed by trombone player Andoy Fernandez; Bach, Gonoud’s Ave Maria played by contrabassist Abner Cruz, May Bukas Pa recorded by Rico J. Puno to be interpreted by cellist Roland Guerrero, Leonard Cohen’s Hallelujah performed by viola player Joven Edward Aquisap, Astor Piazzolla’s Ave Maria rendered by violinist Jose Carlo Tuazon, Can't Help Falling In Love recorded by Elvis Presley performed by violinist Michael Del Rosario, and Lucio San Pedro’s Sa Ugoy ng Duyan interpreted by viola player Rey Casey Concepcion.

PPO in your Living Room features Scott Joplin’s The Entertainer performed by contrabassist Aris Payte III; Michele Pangini’s Pagina D’album rendered by clarinetist Jayson Rivera and Ensemble players Christian Tan (Violin), Berny Dulce Payte (Violin), Joy Allan De la Cruz (Viola), Gerry Gonzalez (Cello), Aris Payte III (Contrabass); Consuelo Velázquez’s Besame Mucho interpreted by trumpetist

Melvin Miranda, Claude Bolling’s Irlindaise performed by flutist Edgardo Silangcruz; J.S. Bach’s Air on the G string interpreted by String ensemble players Jose Carlo Tuazon, Berny Dulce Payte, Joy Allan Dela Cruz, Giuseppe Diestro, and Aris Payte III; Lucio San Pedro’s Sa Ugoy ng Duyan rendered by violinist Christian Tan and cellist Giancarlo Gonzales, What a Wonderful World recorded

by Louis Armstrong and performed by Hernan Manalastas (Clarinet) and Abner Cruz (Contrabass), Edward Elgar’s Salut D’Amour rendered by cellist Ma. Theresa Ibero, Lift Up Your Hands by Basil Valdez performed by violinist Aristotle Ramos, Lead Me Lord recorded by Gary Valenciano and rendered by Ricson Poonin (Trombone), Can't Help Falling In Love recorded by Elvis Presley and interpreted by violinist Michael Del Rosario, and Leonard Cohen’s Hallelujah performed by Joven Edward Aquisap (Viola).

PPO in your Workplaces presents Claude Bolling’s Irlindaise performed by flutist Edgardo Silangcruz, Consuelo Velasquez’s Besame Mucho interpreted by Melvin Miranda (Trumpet), Scott Joplin’s The Entertainer rendered by contrabass player Aris Payte III, Lead Me Lord recorded

by Gary Valenciano and performed by trombone player Ricson Poonin, J.S. Bach’s Air on the G string interpreted by String ensemble players Jose Carlo Tuazon, Berny Dulce Payte, Joy Allan Dela Cruz, Giuseppe Diestro, and Aris Payte III, Leonard Cohen’s Hallelujah performed by violist Joven Edward Aquisap, Antonin Dvorak’s 4 Romantic Pieces op. 75 no. 1 - Allegro Moderato rendered by Berny Payte (Violin), Edward Elgar’s Salut D’Amour interpreted by cellist Gemma Bicaldo, Friedrich Flotow’s Ti’s The Last Rose of Summer performed by trumpet player Edwin Matias, Ennio Morricone’s Gabriel's Oboe rendered by oboist Jappy Bautista, Sometimes When it Rains by Secret Garden interpreted by Andoy Fernandez (Trombone), and Lift Up Your Hands recorded by Basil Valdez and performed by violinist Aristotle Ramos.

The PPO pocket concerts are dedicated to the following audiences: The sick who are recuperating either in the hospitals or in their homes, Front liners who tirelessly take care of their sick countrymen, and the rest of the Filipinos staying in their homes living and coping with the new normal way of life in the pandemic stricken Philippine society.

Derma care for the new normal

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N this time of COVID-19, it is normal for anyone to experience stress. But different people show their stress differently. Some hardly eat, some eat too much. Others can’t sleep, while others sleep the whole day. Anxiety and depression can be common conditions. On the other hand, denial and escapism are also forms of coping. For some individuals, though, stress shows up for all the world to see – on their skin.

Dermatologist Grace Carole P. Beltran observes a number of dermatological concerns that popped up even more during the lockdown. She lists them down: “Psoriasis is number one. Atopic dermatitis is number two. Others include acne vulgaris, hair loss or alopecia, allergic contact dermatitis, hypersensitivity reaction, painful varicose veins, carbuncles, severe pruritus, prurigo, and lichen simplex chronicus.” Yet apart from these that are triggered by stress, there were also consultations for nose lift, facelift, and rejuvenation.

Perhaps aesthetic enhancements can do wonders for the sagging spirit.

But given the limitations of the current community quarantines, Dr. Beltran had to hold her patients’ hands figuratively via online consultations. “It was difficult,” she confesses, “but I made it through. Perhaps because of years of experience (27 years of practice), I survived.”

When there are cases that she could not diagnose via online platforms, she asks to see the patients in person to treat them properly. However, these face-toface consultations follow strict health protocols with Level 3 to 4 protection depending on the case.

Dr. Beltran’s caring bedside manner clearly lives up to her name – Grace. From the outset, her gracious attitude allowed her to detour from an inclination towards Fine Arts into a career in Medicine. Influenced by her father who believed that a physician is one of the most respected professions, she embraced the healer’s path with great determination and dedication.

Despite the back-breaking years of studies, sleepless nights, and frustrating moments, she soldiered on and made it.

There was a point, however, when a doctor’s toxic schedule became too overwhelming to balance motherhood and her career. Thus, she had to take a step back and focus on a particular specialization. She chose dermatology.

Looks like that was the perfect choice for Dr. Beltran. Today, her drive and inspiration are evident as she helps patients to not only feel good about their outward appearance but also to discover their unique inner beauty.

Dr. Grace Carole Beltran is known for her gracious accessibility to her patients.

Her patients are fortunate indeed, for she gives service beyond the call of duty. Because they have her contact number, they can easily get in touch with her wherever and whenever they need to.

Likewise, they have access to formulations that she and her pharmacists have concocted and developed as a result of her experience, training, and education.

And while at first glance, she seems reserved and shy, further interaction reveals a generous and kind-hearted lady, whose life is anchored on her deep religious faith. Grounded on the spiritual, she incorporates prayer in treating patients, especially those who have difficult conditions.

The fact that she taps the heavenlies gives her more strength and wisdom to face the uncertainties of this pandemic.

These days, Dr. Beltran says, are “very difficult and more demanding. Because at this time, we do not only cure the existing problem but we also have the responsibility of making our patients safe, our assistants, and of course, ourselves, safe too. That is why we need to do regular room sterilization after clinic hours, clean after each patient, provide the staff with protective gear, equip the clinics with gadgets for protection during and after each procedure, while protecting ourselves at the same time.”

In this age of the new normal, treat your skin with extra grace. Contact Dr. Grace Carole P. Beltran at (84018411, 09175711992, 09998834802).

Envoys&Expats BusinessMirror

www.businessmirror.com.ph

Thursday, July 2, 2020

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SFA leads intl family remittances day celebration

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EW YORK—Amid the global onslaught of the coronavirus disease 2019 (Covid-19), keeping remittances flowing while lowering transaction costs can help migrants improve the lives and wellbeing of their families, as well as their communities of origin, as they contribute to the attainment of the United Nations’ (UN) Sustainable Development Goals (SDGs).

This was the main message of this year’s celebration of the International Day of Family Remittances, coconvened by the governments of the Philippines, Guatemala, Madagas-

car, Moldova and the International Fund for Agricultural Development (IFAD) in mid-June.

Speaking during the event, Secretary of Foreign Affairs (SFA) Te-

SECRETARY Teodoro L. Locsin Jr. speaks to foreign ministers online as founding countries commemorate the International Day of Family Remittances. PHIL. MISSION TO THE UN FB PAGE

odoro L. Locsin Jr. highlighted the Philippines’s policies and measures to lower remittance costs and digitalize financial transactions against the backdrop of the pandemic and its multidimensional impacts around 272 million international migrants globally.

With an expected drop in re-

mittances to the country due to displaced and repatriated overseas Filipino workers, Locsin emphasized that “our advocacy in keeping remittances is focused on maximizing benefits to senders and receivers of remittances.”

During the community quarantine, the Philippine government clas-

Envoy shares SoKor’s strategies in subduing Covid-19

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MBASSADOR of South Korea to the Philippines Han Dong-man recently disclosed his country’s strategies—including the utilization of artificial intelligence (AI) as well as information and communication technology (ICT)—that were instrumental in flattening the curve of the coronavirus disease 2019 (Covid-19) infections without enforcing lockdowns.

“In a globalized world, viruses know no borders. The situation was very challenging in the beginning,” Han said in an interview.

The envoy said that under the principle of “T.R.U.S.T.:” Transparency, Robust Screening and Quarantine, Unique but Universally Applicable, Strict Control and Treatment, the Korean government “focused on providing information transparently to the public, identifying quickly those who were infected with Covid-19 by facilitating prompt diagnostic tests for whoever wished to [be tested], implementing quick quarantine measures for those infected with the virus, efficient tracing of people potentially exposed to risk of infection, and conducting active treatment of Covid-19 patients.”

He also cited the importance of “cooperation from the general public, who exercised vigilance such as social distancing, wearing masks, [and] voluntarily going through Covid-19 diagnostic tests even without visible symptoms.”

The Korean diplomat disclosed that strict implementation of these strategies “helped [South] Korea flatten the curve of new Covid-19 cases without having to resort to any lockdowns.”

Dutch diplomat honors PGH frontliners

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MBASSADOR of the Netherlands Saskia de Lang recently visited the City of Manila to honor the frontliners of the Philippine General Hospital (PGH).

In recognition of their courageous, dedicated work and unrelenting efforts against the coronavirus disease 2019 (Covid-19), the De Lang and Dutch Embassy staff members visited the hospital with eco-bags of “Dutch goodies.”

The bags were filled with treats from Dutch Companies: Frico cheese from FrieslandCampina and imported by Wilmington Imex Inc., Stroopwafels made in the Philippines by The Dutch Pancake House in Tagaytay, and ready-to-drink milk packs donated by Alaska Milk, which is owned in majority by the large Dutch dairy cooperative Royal FrieslandCampina N.V. The donation was received by PGH Medical Director Dr. Gerardo Legaspi and Deputy Director for Administration Dr. Maria Teresa Benedicto.

De Lang hoped that their embassy’s simple gesture will help to nourish the bodies and lift the spirits of those working hard to help the Philippines combat the pandemic.

HAN PNA

Drive-thrus, walk-thrus

“AS Covid-19 spread and more people got infected,” the envoy explained, “many people in [my country] began to think of various creative ways to speed up the diagnostic testing, while reducing health risks for frontline health-care workers [that] led to the adoption of the so-called DriveThru Covid-19 testing stations and Walk-Thru Covid-19 testing booths in Korea,” Han revealed that the “DriveThru” testing method significantly enhanced access of the general public to Covid-19 tests while allowing health-care workers to minimize any risks of infection by conducting the tests in a large, open space.

On the other hand, he said “WalkThru” testing booths further enhanced the access to Covid-19 tests “for the wider public by making it easy for people who don’t drive, to just walk to a testing booth and get the virus test done within five minutes.”

“For medics and health-care workers, both these…testing methods provided better protection, while enabling them to conserve scarce supplies such as personal protective equipment and reduce medical waste as well,” the ambassador added.

He said the Korean government also boosted its efforts to contain the deadly virus by adopting the “Speedy, Safe and Accurate” approach, also dubbed as “3Ts,” or “Test, Trace and Treat,” in combating the virus.

AI, ICT utilized

HAN said the full cooperation of the private sector had led to the creation of effective “tracing” and “treatment” methods “using various ICT technologies.”

“For example, [a mobile tracing] application was developed to monitor the movement of infected individuals and to trace people potentially exposed to the risks of Covid-19 infection, while

it made sure that their personal information is not made public,” Han shared. “Any concerns about the possible infringement of citizens’ rights to privacy are addressed by the relevant Personal Information Protection Act in Korea, which stipulates that all personal information should be destroyed 14 days after the incubation period.”

“There is a wide consensus and understanding in Korea that the purpose of such travel charts of infected individuals is to understand the movement of the [Covid-19] host,” he added.

The use of AI and ICT, the envoy said, greatly enhanced prevention efforts and treatment of infected patients. He however cautioned that with the pandemic still much around and no vaccine available, “everyone must continue to stay vigilant until a vaccine is developed to address the pandemic...”

The Korean government, Han explained, is committed to the open, transparent and democratic approach in addressing Covid-19 and will continue to share its experiences and information around the world, including the Philippines, which he cited helped South Korea during the Korean War. During the Korean War that started on June 25, 1950, the Philippines was the first Asian country which sent 7,420 combat troops.

They helped protect South Korea until 1955, to which the Korean government is very much grateful to this day.

“The Philippines is [our] longstanding ally,” Han declared. Ben Cal/PNA

sified remittance-service providers as essential as they were allowed to operate even during the lockdown.

It also provided further assistance to RSPs when the Central Bank waived their fees and charges for financial institutions that offer digital channels for, among others, social-benefit transfers and remittances. The relief was provided for the duration of the community quarantine period.

In pushing for lower remittance costs, especially on furthering the deployment of digital technology, the Philippines, prior to the pandemic, had jump-started reforms in the digital banking system in pursuit of the SDGs target of lowering remittance costs.

The National Retail Payment System is one of the government’s initiatives that lower remittance costs. An initiative of the Central Bank of the Philippines, the NRPS is an electronic money scheme aiming to directly address market

segmentation by creating a central infrastructure that is accessible to all industry players, much like a shared highway for stakeholders to deliver their services on a common and level-up playing field.

Guatemala’s Foreign Affairs Minister Ambassador Brolo Vila, United Kingdom’s Minister for Africa James Duddridge, Moldova’s Regional Development and Environment Minister of Agriculture Ion Perju, Chargé ďAffaires and Deputy Permanent Representative of Madagascar to the UN Vero Henintosa Andriamiarisoa, together with Associate Vice President of IFAD Paul Winters, also participated in the commemoration event.

The Philippines, together with Algeria, Guatemala and Madagascar led the adoption by the 72nd general assembly of the landmark resolution on June 12, 2018, that declared June 16 as the International Day of Family Remittances. DFA

Norway in the UN Security Council 2021-2022

By Bjørn Jahnsen

Ambassador of the Kingdom of Norway to the Philippines (Exclusive to Envoys&Expats)

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N June 17, Norway successfully won a nonpermanent seat at the United Nations Security Council (UN-SC) for 2021 to 2022.

We are happy that we won one of the five seats. It has been 20 years since our country took a seat in the SC, which was from 2001 to 2002, and will do so again on January 1, 2021 until December 31, 2022.

We live in unprecedented times marked by intense and complex crises. As an example, no country can tackle the coronavirus crisis alone.

And, it does little good for Norway to keep the spread of the pandemic under control if new waves of infection continue to come from abroad. Global issues, such as the coronavirus disease 2019 situation, is a good illustration of why our country always has been a staunch supporter of the UN. This year, we also celebrate the 75th anniversary of the end of the Second World War. Norway and the Philippines were both founding members of the UN in 1945, which was motivated by a desire to prevent future conflicts and armed confrontations.

‘Small country, big heart’

NORWAY is a strong supporter of the multilateral system, and the major part of our assistance to the Philippines comes through the UN system.

Our foreign policy supporting peace and security, human rights, the rule of law, and development are at the forefront, and these issues will be key in our tenure in the SC. There is a broad consensus in our country to provide at least 1 percent of our gross national income to international development aid and official development assistance. In 2019, Norway’s total ODA was about $4 billion, and about a quarter of this was provided through multilateral organizations like the UN and other regional platforms.

JAHNSEN EMBASSY OF NORWAY

Indeed, we are a small country with a big heart.

Regarding our response to the coronavirus disease 2019 (Covid-19), Norway has increased its support for vaccine development, as it allocated $250 million to the Coalition for Epidemic Preparedness Innovations for vaccine-development work.

It has likewise co-funded some of the UN-led initiatives against Covid-19 in the Bangsamoro region and the rest of Mindanao, with a particular focus on women affected by the conflict. Our country has expertise and experience from many years of engagement in peace and reconciliation efforts around the world, that we will inform the SC about of our contributions.

All for peace

FOR 19 years, Norway has been the third-party facilitator of the peace talks between the Philippine government and the communist movement. Since 2010, we have also been engaged in the Bangsamoro peace process. This reflects our commitment to peace processes and reconciliation efforts worldwide.

Norway will cooperate closely with all members of the SC in promoting the protection of civilians, including children, as well as encouraging women’s role and participation in international peace and security work.

Lastly, my country will work to ensure that the SC devotes more attention on climate change’s effects to international peace and security.

‘Yoga: Need of the hour’ Canada sends additional aid

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HE government of Canada recently provided an additional CAD$1.9 million (approximately P70.2 million) to its anti-coronavirus disease (Covid-19) assistance to the Philippines.

Said aid supplemented the previous CAD$ 1.18 million (about P 44.5 million) the North American country committed on June 10, which brought the total incremental amount of bilateral pandemic assistance to more than CAD$3 million (roughly P114.7 million).

“Canada continues to contribute to international efforts in addressing the ongoing pandemic by providing urgent and necessary funding—including support for those who are most vulnerable,” newly installed ambassador Peter MacArthur said. “As the Covid-19 health crisis evolves, we recognize that for many people—particularly women and children—the pandemic may have significant and lasting adverse effects on their health, prosperity and opportunities. We are committed to [help] our partners in the government of the Philippines in their lifesaving work.”

Canada is adding fresh funding to the existing Enhance Mother/Newborn/Child Health in

Remote Areas through Health Care and Community Engagement (EMBRACE) project in the Philippines implemented by the Adventist Development and Relief Agency-Canada, bringing the total project value to CAD$24.7 million. EMBRACE is a multicountry initiative that aims to prevent stunting and maternal-child mortality in hard to reach areas.

This additional aid to the EMBRACE project will bolster activities, such as information dissemination on Covid-19, training of frontline health-care workers on clinical management and contact tracing and provision of sexual and reproductive health services, including counselling and psychosocial support.

The project will also equip temporary health facilities with portable toilets, shower and handwashing facilities, as well as procurement of personal protective equipment (PPE), test kits, disinfectants, sanitation tents and beds, among others.

This support is in addition to two previous initiatives supporting anti-Covid-19 efforts in the Philippines: (1) Donation of 120,000 N95 PPE masks valued at CAD$782,000 (approximately

P29.5 million) as part of Canada’s CAD$4.5 million in-kind contribution to six Asean member-states, and (2) the additional CAD$400,000 (about P15.2 million) for the existing Sexual Health and Empowerment Philippines, or SHE project, which aims to ensure unhampered provision of sexual and reproductive health services during the surge of Covid-19. “[Our] humanitarian assistance is in-line with its Feminist International Assistance Policy, which addresses specific needs and priorities of people in vulnerable situations, particularly women and girls,” MacArthur added.

Canada is also supporting other Asean states by providing PPEs and capacity-building for the Philippines-led Asean BioDiaspora Virtual Center within the Asean Emergency Operations Centre Network. The Philippines is also one of the beneficiary-countries identified to receive Covid-19 diagnostic equipment, testing kits, reagents and laboratory consumables as part of a CAD$5-million global project that the North American country is funding through the International Atomic Energy Agency. Recto L. Mercene

T

HE International Day of Yoga’s sixth edition was celebrated locally by the Embassy of India in Manila on June 21, notwithstanding “the prevailing situation caused by the pandemic.”

According to the embassy, this year’s celebrations were unique, which had “Yoga at home and Yoga with family” as the theme.

Together with the National Youth Commission of the Philippines and the Indian Cultural Association of the Philippines, with support from the Art of Living Foundation, the embassy organized an event streamed on Facebook and other digital platforms.

It started with messages from the Prime Minister of India’s Shri Narendra Modi and the embassy’s Chargé d’Affaires Manisha Swami. Both highlighted the importance of yoga and its international celebration.

A common yoga protocol session led by Instructor Chandru Mahtani followed thereafter.

The embassy also staged a photo competition with the theme, “Let’s yoga for a

THIRD-place winner of the “Yoga at Home 2020” photo contest EMBASSY OF INDIA

healthy Pilipinas” as part of the commemorative activities.

It said that yoga remains as “the 5,000-year-old ancient scientific tradition of India, which aims to unite [the] mind, body and soul. [It] is not just a set of exercises to keep the body fit, but...a holistic way to fitness and well-being.”

“As the world battles the [current] pandemic, yoga and its practice may be useful for maintaining physical and mental wellbeing,” the embassy said in a statement.

“Yoga, indeed, has become the need of the hour.”

Sports

TOKYO RESIDENTS: CANCEL OLYMPICS

BusinessMirror

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| Thursday, July 2, 2020 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

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NEW survey found that more than half of Tokyo residents do not want the postponed Olympic and Paralympic Games to be held next year.

Tokyo 2020 was moved back to 2021 because of the coronavirus pandemic, but doubts remain about the Games going ahead.

The survey, carried out over the phone by Kyodo News and the Tokyo MX television channel, was taken by 1,030 people. It found that 51.7 percent want the Games to be postponed again or canceled, with 46.3 percent wanting the rearranged Tokyo 2020 to take place.

Out of those who are opposed to next year, 24 percent said they would favor a second postponement.

This option, however, was repeatedly rejected by Tokyo

2020 and International Olympic Committee (IOC) officials.

Complete cancellation was backed by 27.7 percent.

Of those who want to see the Games go ahead next year, 31.1 percent said they should take place in a reduced form.

This is the path being taken by organizers, with Tokyo 2020 Chief Executive Toshirō Mutō speaking about “simplified Games” and announcing this month that 200 ideas on how to scale things back were being considered.

Holding a full-scale Olympics as planned was backed by 15.2 percent.

The Tokyo 2020 Olympics are now scheduled from July 23 and August 8 next year, with the Paralympics due to follow from August 24 to September 5. Some believe that these dates will not be feasible if the coronavirus pandemic does not subside

TOKYO 2020 is moved back to 2021 because of the coronavirus pandemic, but doubts remain about the Games going ahead.

significantly around the world and a vaccine is not developed.

IOC President Thomas Bach is among those who admitted the Games would be canceled entirely if not possible in 2021, with a second postponement not being considered.

Tokyo 2020 Board member Haruyuki Takahashi, however, claimed that another shift in dates should be considered.

The delay as created a huge logistical challenge for organizers, which Bach described as a “huge jigsaw puzzle and every piece has to fit.”

Another survey by Japanese broadcaster NHK revealed that two-thirds of corporate sponsors for Tokyo 2020 are unsure if they will extend their contracts past December, with 14 percent saying it would

depend on the asking price.

The rearranged Games is a key topic amid campaigning for Tokyo’s gubernatorial election on Sunday.

Incumbent governor Yuriko Koike looks likely to win a second term although one of her rival candidates, Tarō Yamamoto, pledged to cancel Tokyo 2020 if elected.

There are fears of a second wave of coronavirus in the Japanese capital, with the city reporting more than 50 cases for the past four days. This is the highest level since early May, when Japan was under a state of emergency.

Insidethegames

Messi scores 700th goal, but Barca’s title run dims

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ARCELONA, Spain—Lionel Messi scored his 700th career goal for club and country before Atletico Madrid came back to draw, 2-2, in the Spanish league on Tuesday and deal Barcelona’s title hopes a major blow.

Barcelona’s third draw in four rounds left it in second place, one point behind leader Real Madrid. Madrid hosts Getafe on Thursday with a chance to open up a four-point lead with five more matches remaining.

Barcelona was two points ahead of Madrid when the league was halted in March because of the coronavirus outbreak.

While Madrid has won five of five since the resumption after a three-month stoppage, Barcelona has only won three of six. The pressure is increasing on Coach Quique Setién, who took over the team in mid-season with the task of rekindling its attacking spirit.

“It is too bad because we keep dropping points and getting further and further away from the

title,” Setién said. “But we have to keep fighting.”

Barcelona struck first in the 11th minute when Atlético striker Diego Costa inadvertently redirected a corner by Messi into his own net.

Costa’s night got worse shortly after when his penalty was blocked by Marc-Andre ter Stegen.

Atlético, however, got to retake the spot kick when a video review determined that the Barcelona goalkeeper had moved off his line too early.

Saúl Ñíguez stepped up instead of Costa on the second attempt and converted to level the score in the 19th.

Messi restored the host’s lead in 56th by coolly scoring a penalty in the “Panenka” style, chipping it softly past goalie Jan Oblak.

The goal was Messi’s 630th club goal to go with 70 for his Argentina. It was also his league-leading 22nd goal of the season.

Atlético responded again through the speed

Adidas global HR head resigns as company tackles diversity issues

HICAGO Red Stars teammates Julie Ertz and Casey Short say hard conversations over the past several weeks led to their vulnerability in the moment they shared an emotional embrace while they knelt during the national anthem as the NWSL opened its season.

Short sobbed as she was held by Ertz before Chicago’s match against the Washington Spirit on Saturday night, the second game of the National Women’s Soccer League (NWSL) tournament in Utah.

“Currently, every time the national anthem is played, our country continues to become more and more divided on what the visual symbol of unity looks like,” Short and Ertz said in a joint statement they released Tuesday. “Through our continuous conversations we wanted to make sure that whatever we decided to do, it would not be an empty gesture. It would be a gesture that portrayed that we have heard those who needed to be heard, validated and loved.

“That moment during the anthem was difficult, very difficult. We are still searching but we are humbled by the outpouring of support.”

Short was not made available for comment after the match, so the context of the moment wasn’t known. Teammate Rachel Hill, who stood during the anthem and put a hand on Short’s shoulder, also was not made available for comment following the game.

“The two of us have always set out to be our honest and true selves, but have struggled to find the “right” thing to do in order to show our truth. We understand people are entitled to their opinions. Often these opinions are presented through the individual’s lens and do not accurately portray how the two of us truly feel,” Short and Ertz said.

Hill posted a statement to Instagram on Tuesday night, saying the decision did not come easily.

“Before the game, I was completely torn on what to do. I spoke with friends, family and teammates—of all races, religions and

LIONEL MESSI drills in his 630th club goal to go with 70 for his Argentina. AP

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EW YORK—The head of global human resources at sports apparel and shoe company Adidas resigned Tuesday following criticism from employees of what they see as the company’s failure to diversify its work force.

Karen Parkin’s resignation comes after a group of Black employees called on Adidas’s supervisory board to investigate her and her strategy for addressing racial issues in the workplace. The employees are also pressing the company based in Herzogenaurach, Germany, to create an anonymous public channel to submit any problems about racism.

The demands from Black employees were reported by The Wall Street Journal in mid- June.

“I am deeply committed to our goals of creating a more diverse, inclusive and equitable company,” Parkin, a board member, said in a statement. “While we have made progress in many areas, there is much more work to be done. However, it has become clear to me that to unify the organization it would be better for me to retire and pave the way for change.”

Igor Landau, chairman of Adidas AG’s supervisory board, said in a statement that Parkin’s decision to leave the company reflects her belief that a new HR leader will “best drive forward the pace of change that Adidas needs at this time.”

In the wake of protests over police brutality sparked by the death of George

of forward Yannick Carrasco, who was tripped

by Nelson Semedo and sent Saúl back to the spot. Ter Stegen got a hand on his penalty but not enough to keep it out.

Diego Simeone’s Atlético remained undefeated in the six matches since the competition resumed. It stayed in third place, 12 points behind Madrid.

Simeone left forward João Félix on the bench until the second half in favor of the inform midfielder Marcos Llorente, who is thriving in support of the attack.

Llorente led the attack early on, but Carrasco with his speed on the left flank proved to be the visitors’ biggest weapon. Twice the Belgian forward burst into the box on a counterattack and was taken down by late tackles from Arturo Vidal and Semedo.

“Carrasco came back from the stoppage in better shape, and is now back to playing at his best level,” Simeone said about his forward, who is in his second stint with the club. AP

Floyd, for which four former Minneapolis police officers have been charged, Adidas, like many other brands, took to social media in support of racial equality. But employees at Adidas and other companies like Amazon accused them of hypocrisy, saying their own work forces lacked diversity.

Following the criticism, Adidas said that it would invest $120 million toward US initiatives focused on ending racial injustice and supporting Black communities through 2025. Among other initiatives, it promised that a minimum of 30 percent of all new positions—internal and external—will be filled with Black and Latino talent.

Adidas employs about 59,000 people around the world.

Adidas said its CEO Kasper Rorsted will assume responsibility for global human resources on an interim basis until a successor is appointed.

Parkin first joined Adidas in 1997 as sales director for Adidas UK. Since that time, she has held a number of positions of increasing responsibility at the company across customer service, business development, supply chain and human resources, culminating in heading up global human resources division over the past five-and-a-half years. She was appointed to the company’s executive board in 2017. AP

C

ALL PRAISES FOR SOTTO

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MERICAN Coach Rob Johnson was all praises for Kai Sotto, saying the 7-foot-2 Filipino youngster has a bright future ahead of him.

“Kai has a great attitude about training.

He loves finding out information to apply to his game to help him improve,” Johnson told an interview with the Olympic Channel recently.

Sotto, only 18, trained under Johnson for a year at The Skills Factory squad in Atlanta, hoping to hone his skills as he dreams of becoming the first homegrown Filipino to play in the National Basketball Association (NBA).

“Kai could pose a threat if he could properly utilize his length and wits,” Johnson said. “He has great basketball IQ. He is easy to coach and

understands the instructions and concepts at a very high level.”

The former Ateneo juniors standout signed up with Southern California, the newest team in the G-League. He is the first international player to play in the NBA’s developmental league.

There, he will team up with FilipinoAmerican Jalen Green, along with their fellow promising players Isaiah Todd and Daishen Nix. “I admire the improvement on Kai’s strength and explosion,” Johnson said. “I think the Olympics will be a very big stage for Kai and he will give the world a chance to see him represent his country versus the other top countries in the world.

Ramon Rafael Bonilla

Emotions mark US women’s soccer season opener

CHICAGO Red Stars’ Julie Ertz (second from left) holds Casey Short (center) while other players kneel during the national anthem before their match against the Washington Spirit at Zions Bank Stadium in Herriman, Utah. AP

backgrounds—with the hope of guidance,” Hill wrote. “I chose to stand because of what the flag inherently means to my military family members and me, but I 100 percent support my peers. Symbolically, I tried to show this with the placement of my hand on Casey’s shoulder and bowing my head. I struggled, but felt that these actions showed my truth, and in the end I wanted to remain true to myself.”

Players for the Portland Thorns and the North Carolina Courage collectively knelt during the national anthem Saturday as they opened the Challenge Cup tournament. A few players,

including Hill, chose to stand as the anthem was played before the late game between the Red Stars and Spirit.

While it is customary that only starters are on the field during the anthem, the entire squads for the four teams that played Tuesday took the field before their games. Most, but not all, knelt.

Players and coaches have also worn Black Lives Matter t-shirts in warmups before games, and players have also knelt during a moment of silence before kickoffs.

The NWSL players association released a statement in support of all players, no

matter their decision.

“The Players Association supports both making a clear statement that Black Lives Matter and each player making a personal decision around whether to stand or kneel during the national anthem,” the union said. “We ask that our supporters and media respect each player’s right to handle these moments in the way that they choose and know that our players are united against racism and in support of one another.”

After some players were criticized, the league announced Monday that it would allow players to remain in the locker room during the anthem. AP