THE national government spent P1.216 trillion to pay its domestic and foreign debts from January to May this year, according to the Bureau of the Treasury (BTr).
Latest data from the Treasury showed the government’s debt service was higher by 48.38 percent, or P396.474 billion, as of end-May from P819.526 billion in the same period in 2023.
A mortization, or the repayment of loan principal over time, accounted for 73.57 percent of the total debt service. It outpaced interest payments of debts currently at 26.43 percent, based on Treasury’s data.
A mortization reached P895.126 billion during the five-month period, higher by 67.80 percent year-on-year from P589.952 billion. Domestic amortization grew by 41.51 percent as of end-May to P754.855 billion recorded a year ago. Domestic Bond Exchange was allotted P243.449 billion while the Bond Sinking Fund received P510.886 billion. The remaining P520 million under domestic amortization went to Agrarian Reform Beneficiaries (ARBs).
External amortization of the national government almost tripled, expanding by 148.21 percent to P140.271 billion from P56.512 billion.
I n terms of interest payments, Treasury data showed the state’s domestic and foreign interest payments both posted double-digit g rowth rates during the first five months of the year.
The government paid P231.376 billion in domestic interest payments as of end-May, 51.62 percent higher than it did in 2023 at P152.604 billion. Domestic interest payments were composed mainly of interest payments for Fixed Rate Treasury Bonds at P156.655 billion, followed by Retail Treasury Bonds at P55.478 billion, Treasury Bills at P13.485 billion, and others at P5.758 billion. Meanwhile,
TATE
firm Philippine Amusement and Gaming Corporation (Pagcor) announced its net income expanded by 121.48 percent to P6.56
billion from P76.970 billion in 2023. May payments FOR the month of May, the government’s debt service also grew by 4 0.64 percent to P68.980 billion from P49.047 billion in the same month in 2023.
Amortization payments in May amounted to P7.883 billion, up by 2.34 percent, compared to the P7.703 billion recorded a year ago.
I nterest payments, meanwhile, rose by 47.78 percent to P 61.097 billion from P41.344 billion in April 2023.
I n 2023, the national government reported a total of P1.603 t rillion in debt payments, with amortization at P975.278 billion outpacing interest payments at P628.333 billion.
Th e government has recorded an outstanding debt of P15.35 trillion as of end-May 2024, with domestic debt amounting to P10.442 trillion and external debt at P4.904 trillion.
T he Department of Finance (DOF) raised the government’s borrowing plan by 4.47 percent to P2.57 trillion in 2024, from the P2.46-trillion target set by the Cabinet-level Development Budget Coordination Committee (DBCC).
The state’s debt servicing program for this year is set at P1.911 t rillion, with the bulk allotted to amortization payments at P1.241 trillion and interest payments at P670.471 billion.
New MICE branding unreels sans updated MICE roadmap
By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror
MICE Philippines, we take your business to heart.”
The Department of Tourism (DOT) and its marketing arm, the Tourism Promotions Board (TPB) launched the new Philippine branding for the Meetings, Incentives, Conventions, Exhibitions (MICE) at annual MICE Conference (MICECon) held last week at the Clark Freeport Zone.
I n her opening remarks on July 11, TPB Chief Operating Officer Maria Margarita Montemayor Nograles said of the new brand, which is based on the “Love the Philippines” slogan of the DOT: “It has been a long journey to develop this program and message aimed at taking a brand new MICE to the world. A global MICE with a stronger sales force, an empowered private sector and the full of support of government all embodied in the Filipino Brand of Service Excellence.”
She added, the MICE program
showed, “We welcome not just leisure travelers but also business professionals. Whether our guests are here for an important meeting, a major convention, an extended workation, or a leisure activity, we go beyond telling them. We show them that in the Philippines, we take your business to heart.”
B ut what’s a MICE branding without a roadmap to back it up? The topic was not even discussed during the MICECON, as can be gleaned from the conference program.
DOT ‘insisted’ on completing update MICE stakeholders had long been waiting for the “recalibration” of government’s MICE Roadmap 2030, which had been languishing with the DOT. The TPB, as early as 2020, had even offered to take the lead in the roadmap’s updating. “The MICE stakeholders were already clamoring for its finalization…but DOT insisted on completing it,” various BusinessMirror sources said. It was only in March 2023 that the TPB was forced to take the lead when the DOT, through a Department Order, “assigned TPB as roadmap Secretariat,” said the
sources. The DOT was supposed to have prepared a detailed strategic action plan for the development of the MICE industry by the first half of 2023. (See, “PHL aims to earn P25B from MICE hostings,” in the BusinessMirror, December 27, 2022.)
I n an interview on the sidelines of the recent 2nd Hotel Sales and Marketing Association Summit, Joel Pascual, president of PEPTarsus Corp. said: “We’re still in the consultative stage and we’re going to push the [roadmap] back beyond 2030, because we lost a lot of years [due to the pandemic]. Some of the plans of stakeholders have likewise changed. Part of the roadmap will also include learnings from the pandemic to make sure it doesn’t happen again,” i.e., future-proofing the sector from crises.
Foreigners want to enter the biz A TECHNICAL working group will also be taking new inventory of MICE spaces, as more convention centers have also been opened since 2018, when the DOT unveiled the roadmap.“We also need to take inventory [of the organizers], who are still around, and if there are new players,” said Pascual,
Pagcor…
currently implemented under the new administration to its income growth.
Pagcor’s robust net income growth translates of course to a larger Contribution to NationBuilding [CNB],” Tengco said.
A s part of its CNB, Tengco said Pagcor has remitted P31.82 billion to the Bureau of the Treasury (BTr) in the first six months of the year, higher by 40.67 percent than the P22.62 billion it remitted in the same period a year ago.
Pagcor’s gross revenues from January to June 2023 went up by 42.92 percent to P51.76 billion from P36.21 billion recorded last year, propelling its income growth.
G aming operations also contributed P45.39 billion to the bulk of Pagcor’s revenues.
T he online gaming sector, consisting of electronic games (E-Games), electronic bingo (E-Bingo) and bingo grantees, accounted for almost half, or 45.53 percent, of the total gaming revenues bringing in a total of P20.66 billion.
I ntegrated resorts or licensed casinos added P16.06 billion to Pagcor’s gaming revenues for a 35.44-percent share while Pagcor-
be operated and maintained by the military.
He said the AFP’s revised modernization program, which was enacted by Congress in 2012, aims to build up the capabilities of the navy, air force, and the army.
Despite the growing number of Philippine naval assets, the AFP has yet to procure a hospital ship. At the height of the Covid-19 pandemic in 2020, the Philippine Navy converted the presidential yacht BRP Ang Pangulo into a floating medical facility that can accommodate 28 patients.
R ecords show that the Philippine Navy has 90 combat and 16 auxiliary vessels, but listed no hospital ship. The Philippine Coast Guard likewise has 62 patrol vessels, 4 support ships, and almost 500 auxiliary boats, but no
former president of the Philippine Association of Convention/ Exhibition Organizers and Suppliers (Paceos), which had pushed for the roadmap that was eventually adopted by DOT.
H e noted that a number of foreign organizers now want to enter the local MICE business: “Even that should be part of regulations because that’s competition for the local organizers. So much of the landscape has changed, so we need to put on the brakes and recalibrate.” PEPTarsus is a leading MICE organizer in the country. Pascual earlier pointed to the quick recovery of the MICE industry, post-pandemic. (See, “SM Group to help fill up NCR shortfall for MICE venues,” in the BusinessMirror, June 30, 2024.)
A s ource in the MICE industry defended the TPB for the delay in updating the roadmap. “The TPB is still trying to figure out what to do as the task was just passed on to them,” the source underscored. A meeting was finally held last April between TPB, Paceos, and the DOT, which discussed the discuss the roadmap “and the result of the last attempt to recalibrate it,” said a source who attended the meeting.
Continued from A1
operated casinos under the Casino Filipino brand generated P6.93 billion for a 15.27 percent gaming revenue contribution.
Tengco expressed confidence that Pagcor is on track to reach or even breach the P100-billion annual gross revenue threshold this year with its P51.76-billion first half revenues.
Given the phenomenal revenue increase in the E-Games sector, and with more players and investors signifying their intent to enter the Philippine market, we are confident that the year 2024 will be truly a banner year for Pagcor,” Tengco said.
In terms of GGR, licensed casinos remained the largest contributors in the first half of the year, raising P99.16 billion.
The E-Games sector’s revenues from January to March more than tripled to P63.01 billion from P20.43 billion posted a year ago, underscoring its “unprecedented” domestic-driven performance.
Pa gcor-operated casinos, however, continued their declining trajectory, recording P8.89 billion in GGR, down by 11.60 percent from the GGR share of P10.06 billion in the first half of the year in 2023. Reine Juvierre S. Alberto
Continued
floating medical facility either.
Honasan said that in the last five years alone, Congress earmarked a total of P121 billion to support the military’s modernization projects, including the procurement of new warships, fighter aircraft, helicopter gunships, early warning air surveillance radars, and batteries of shore-based, anti-ship supersonic cruise missiles.
“R ight now, other countries are designing military hospital ships with 60 beds and 18 intensive care unit [ICU] beds, and with provisions for operating suites, a blood bank, and 100 medical personnel,” Honasan also said.
reflecting a 64-percent uptick from 15,424 to 25,259 this year.
A s to the source of investments, Peza said Cayman Islands was the top contributor to the investment approvals pie with P8.86 billion of investments, followed by Japan with P8.02 billion; Malaysia with P4.53 billion; Hong Kong with P1.62 billion; Singapore with P1.27 billion, among others.
I n June 2024 alone, the Peza Board said it approved 25 new and expansion projects, worth P8.65 billion of investments. The June 2024 approvals are expected to generate $416 million in export earnings and create 5,881 direct employment opportunities.
T he approved 25 projects cover various industries, with 22 locator companies and 3 ecozone developers.
These locator companies comprise export manufacturing activities with 11 projects, followed by six in IT-BPM, three in domestic markets, one in facilities development, and one in logistics services,” said Peza. I n June 2024 alone, the investment promotion agency said Calabarzon remains the preferred destination for new locator projects with 15 being located in Batangas, Cavite, and Laguna, followed by NCR with three specifically in Quezon City and Marikina, and fully dispersed project approvals in the country with three located in Region III (Pampanga and Bulacan), one in Region V (Naga), two in Region VII (Cebu), and one in Region XII (General Santos).
I n the second quarter, Peza said it approved five big-ticket projects worth P31.36 billion in investments, two of which were approved in June.
The first and biggest project is a Filipino- led ecozone development in Tarlac, followed by a Caymanian company to manufacture solar wafer cells with Maxeon 7 technology; and a Japanese company into the manufacturing of metal base wire-wound chip inductors,” said Peza.
Of the newly approved big-ticket projects in June, the investment promotion agency said P6.15 billion investments came from a Malaysian firm focusing on the manufacture and assembly of hair stylers, and a Japanese locator into manufacture of biomass fuel products, oxygen reducers, and high-quality activated charcoal made from coconut shells in General Santos City.
Peza also noted that Eastern European countries are “quite interested” in the Philippines, citing visits from Ukrainian, Polish and Russian delegations that conducted inquiries and site visits preparatory to investing in the country.
Peza Director General Tereso O. Panga said the approval of these projects signals “robust” confidence in the Philippines’ business environment and economic potential.
“ Furthermore, creating more jobs for Filipinos signifies the agency’s proactive efforts in positioning the Philippines as a premier investment destination in Asia, aligned with DTI’s agenda of promoting employment opportunities through investment growth,” added Panga.
“Our initial suggestion is for three military hospital ships—one each to be based in Luzon, Visayas, and Mindanao—ready to provide lifesaving mobile emergency medical services,” the former senator added. With a score of 46.86/100, the Philippines has been ranked last year by the World Risk Index (WRI) as the most disaster-prone country, followed by Indonesia at 43.5 and India at 41.52. The WRI ranks 193 countries in terms of potential exposure to natural disasters or severe weather events such as super typhoons, earthquakes, tsunamis, volcanic eruptions, and drought. The Philippines has the highest disaster risk rating because it straddles the western Pacific Ocean’s typhoon belt—an area where almost one-third of the world’s most intense tropical cyclones form, and is located in the Pacific Ring of Fire where many earthquakes and volcanic eruptions happen.
Group calls for zero waste, toxics-free Brigada Eskwela
Aon July 22, a local waste and
the events garbage and toxics free.
The six-day Brigada Eskwela offers various sectors and groups the opportunity “to volunteer their time and skills for the conduct of clean-ups, minor to medium repairs, and maintenance work in classrooms and school sites.”
On Sunday, EcoWaste Coalition enjoined schools and their community of supporters to observe a set of rules to make the Brigada Eskwela a healthy and safe experience for all.
This includes refraining from bringing single-use plastics (SUPs) into the school, including water in plastic bottles, food in polystyrene foam containers, plastic cutlery, plastic bags and the like. Instead, the group suggested that volunteers bring their water in reusable containers.
The group also urges the use of cleaning aids like brooms and scrub brushes that are made of plant-based materials instead of plastic, and avoid the use of polyvinyl chloride (PVC) plastic tarpaulins, which may contain cadmium, lead and other hazardous chemical additives.
In addition, the group also called for the proper segregation of discards at source to facilitate their recycling or composting, and to minimize the volume of garbage for disposal and reminded against burning trash to prevent the generation of environmental pollutants such as fine particles, heavy metals and dioxins.
“Compost biodegradable discards such as yard trimmings to produce natural fertilizer or soil enhancer for the school garden,” the group added.
Meanwhile, Ecowaste Coalition also cautioned volunteeers in handling busted fluorescent lamps to prevent mercury spill.
“Do not mix such lamps with ordinary trash, and properly store and dispose of them as hazardous waste,” the group stressed.
Meanwhile, in cleaning classroom walls and toilets, the group urged volunteers to use safer cleaning agents and refrain from using hazardous substances corrosive to the eyes, skin, and respiratory tract such as oxalic and muriatic acid.
“Do not mix bleach with acids, ammonia, or other cleaners to avoid the formation and release of toxic gases, which can cause serious injuries,” the group said.
Additionally, the group urged volunteers to use certified lead-safe paints if they are to repaint schools to give it a fresh look.
“Keep children and pregnant women out of the work area as lead is very hazardous to developing fetuses,” the group reminded.
Also, the group urged volunteers to refrain from dry sanding or dry scraping painted surfaces that might contain lead so as not to disperse lead dust into the surroundings.
“Use a moist mop or rag to rid floors, windows, window frames and sills, chairs and tables, and other dust surfaces, and wash it thoroughly after use,” the group said.
Lastly, Ecowaste called on volunteers to abide by Department of Education policy banning smoking and vaping within school premises to keep the school smoke-free at all times. Jonathan L. Mayuga
‘Young Guns’ bloc in House seek probe into ‘birth certificate mill’
By Jovee Marie N. dela Cruz
@joveemarie & Manuel Cayon
@awimailbox
THE “Young Guns” in the House of Repre -
sentatives are calling for a congressional inquiry on Sunday after reports that the National Bureau of Investigation (NBI) discovered a “mill” producing fake birth certificates for Chinese nationals in a town in Davao del Sur.
Lawmakers made a joint statement after one of the beneficiaries of the “factory” was arrested after applying for a passport in Davao City using a falsified document.
Davao Oriental Rep. Cheeno Miguel Almario, Zambales Rep. Jay Khonghun, Lanao del Sur Rep. Zia Alonto Adiong, Ako Bicol Rep. Jil Bongalon, La Union Rep. Paolo Ortega, 1-Rider Rep. Rodge Gutierrez, and Isabela Rep. Inno Dy
V called for a congressional inquiry, in aid of legislation, into the NBI’s finding that close to 200 fake birth certificates were issued to Chinese nationals by the local civil registry of Sta. Cruz, Davao del Sur.
“We must understand that a birth certificate is more than just a document; it symbolizes a Filipino’s connection to their country. It is the first official document that every Filipino receives as their birthright, establishing their official tie to the nation. This is not something that can be easily given, fabricated, milled, or bought. Simply put, Filipinos are not for sale. There should be no fake Filipinos,” Almario said.
“We need to strengthen our legislative framework to ensure rigorous verification processes are in place for the issuance of birth certificates. This includes enhancing the capabilities of local civil registries, implementing more robust checks and balances, and imposing severe penalties on those found guilty of facilitating such fraud,” Almario added.
NBI Southern Mindanao Regional Director Archie Albao reported that Hengson Lemosnero,
originally identified by the NBI as Hanlin Qiu, was arrested at the Department of Foreign Affairs office in Ecoland, Davao City, after applying for a Philippine passport using a fake birth certificate. He is one of the 200 Chinese who acquired falsified birth certificates from the municipal civil registry of Sta. Cruz, Davao del Sur.
“We are outraged by these reports. What’s even more infuriating and saddening is the possibility that these Chinese nationals who obtained fake birth certificates may have links to criminal and drug syndicates,” said Khonghun, chairman of the House Committee on Bases Conversion.
“They probably also found the easiest route to secure spurious documents to conceal their true identities and citizenship to continue their nefarious activities here in the country. This needs to be investigated by Congress,” he added.
Adiong, who also called for an inquiry, would like to know if these Chinese nationals had a backer that emboldened them to “make a mockery of the sanctity of the country’s birth certificate.”
“This discovery is not only unacceptable but an outright affront to our national security and sovereignty. The issuance of falsified birth certificates to foreign nationals compromises the integrity of our civil registration system, undermines the trust of the Filipino people, and poses a significant threat to national security,” said Adiong, chairman of the Ad Hoc Committee on Marawi Rehabilitation and Victims Compensation.
“It is imperative that the House of Representatives launch an immediate and thorough investigation into this matter in aid of legislation to prevent such egregious breaches from recurring. We should summon the entire local civil registry office of Sta. Cruz,” he added.
For Bongalon, a lawyer, the fraudulent activity is “particularly disheartening.”
“It raises serious questions about the
safeguards in place within our local civil registries and highlights the urgent need for stricter oversight and accountability measures,” Bongalon said.
“The procurement of valid birth certificates must be fortified to prevent any exploitation by foreign infiltrators. Birth certificates are foundational documents that grant access to a range of rights and privileges, including citizenship, education, and employment,” he added.
“Allowing foreign nationals to illegitimately obtain these documents undermines the very fabric of our nation,” Bongalon said.
Ortega, an assistant majority leader, also said that Chinese infiltrators, armed with falsified Philippine birth certificates, pose a dire threat to the Philippines’ national security.
“These individuals could potentially exploit their newfound status to engage in activities detrimental to our country, including espionage, economic sabotage and other criminal enterprises. The ramifications of such actions are far-reaching and could compromise our national defense, economy and public safety,” Ortega further explained.
“Moreover, the issuance of fraudulent birth certificates can facilitate a range of criminal activities, from identity theft to human trafficking and smuggling. These crimes not only endanger the lives and welfare of Filipino citizens but also tarnish our international reputation and relations,” Gutierrez, also a lawyer, for his part said.
Dy, a deputy majority leader, said that with these reports, the House of Representatives must “act decisively to address this issue.”
“This is a grave matter that demands immediate and resolute action. We owe it to the Filipino people to protect the sanctity of our civil registration system and safeguard our national security. Let this be a rallying call for vigilance, integrity and unwavering commitment to the principles of justice and
sovereignty,” Dy said.
Meawhile, Mayor Jose Nelson Z. Sala Sr. of Santa Cruz, Davao del Sur, warned that those involved in issuing fictitious birth certificates to Chinese nationals “will certainly be subjected to severe administrative and criminal actions.”
“Rest assured that our local government is doing its best to ensure that the rule of law will prevail and that its personnel are observing the regulations and standards in the performance of their functions,” Sala said in a statement posted in the social media.
He said the municipality only learned on Thursday the arrest of a 21-year-old Chinese man who applied for a Philippine passport using a fictitious birth document he obtained from Santa Cruz’s Local Civil Registry.
The NBI was informed by the Davao office of the Department of Foreign Affairs about the fictitious birth document presented by the Chinese applicant.
The NBI disclosed that the the Chinese national, who was using the name “Hengson Lemosnero” as written in his birth certificate, was identified as Hanlin Qiu, who came from Fujian, China, and arrived in Davao City when he was about 10-years-old. Qui has been studying in Davao City.
The NBI arrested Qui on Tuesday to face charges of violating the passport law, falsification of public documents, perjury, concealing true name, and using fictitious name. He was one of 200 Chinese nationals who acquired falsified birth certificates from the municipal civil registry of Sta. Cruz, Davao del Sur, the NBI added. Some of them have been linked to the Philippine Offshore Gaming Operation, or Pogo.
“We do not tolerate this kind of illegal transaction under my administration. In fact, we are already conducting our own fact-finding investigation and that initial actions were already made concerning those involved personnel even since this issue has surfaced,” Sala said.
A4 Monday, July 15, 2024
House to prioritize passage of ’25 national govt budget–Romualdez
By Jovee Marie N. dela Cruz @joveemarie
SPEAKER Ferdinand Martin
G. Romualdez gave assurances on Sunday that the House of Representatives will prioritize the passage of the 2025 national budget, which is expected to be submitted to Congress by the Department of Budget and Management on July 29.
Besides the budget, Romualdez also vowed to pass the remaining Legislative-Executive Development Advisory Council (Ledac) priority bills and consider additional key measures highlighted in the State of the Nation Address.
“The House is ready to take swift and decisive action to ensure that these legislative priorities are met, paving the way for sustained development and progress under the administration of President Marcos,” Romualdez said.
He emphasized that the House
Drilon
Fawaits the Executive Branch’s proposed P6.352 trillion National Expenditure Program (NEP), which will form the basis for the 2025 General Appropriations bill (GAB), aiming to pass it before the end of September.
“The 2025 national budget is essential for sustaining the nation’s growth and addressing the immediate needs of our citizens, and the House is ready to ensure its swift approval to support our development and progress,” the Speaker said.
“We are ready and determined to work hard to pass the 2025 GAB
before we go on break at the end of September. We will ensure the timely transmission of the spending bill to the Senate for their consideration as well,” he added.
The DBM said the 2025 NEP is equivalent to 22 percent of GDP and is 10.1 percent higher than the FY 2024 budget of P5.768 trillion.
The Department of Budget and Management is expected to submit the 2025 NEP to Congress on July 29, following its review by the full Cabinet.
Under the 1987 Constitution, the NEP must be submitted to Congress within 30 days after the Sona. Once approved, it becomes the GAB and then the General Appropriations Act when signed into law by the President.
In addition to the 2025 national budget, Romualdez confirmed that the House is ready to pass all of the President’s priority measures during the remaining session days of the 19th Congress.
“We are fully committed to passing all the bills that President Marcos will possibly outline in his Sona. The House is ready and determined to work diligently to ensure these critical measures are enacted swiftly to support our nation’s progress and development,” the Speaker said.
In his coming Sona, Marcos is expected to outline key legislative measures aimed at addressing the country’s most urgent issues and driving its growth agenda.
“These Sona measures are crucial for addressing our nation’s immediate needs and promoting sustainable development,” the House chief said.
“We will work closely with the executive branch to ensure their swift and successful passage.”
Romualdez said the bigger chamber is also dedicated to passing all remaining Ledac priority bills.
“We are committed to completing the legislative agenda by passing these crucial measures. They are vital for our nation’s progress and prosperity, and we will ensure they are enacted swiftly and effectively,” he said.
“The House has diligently prioritized Ledac bills, leading to substantial progress, with over 12,000 measures filed and 75 bills enacted into law,” the Speaker said.
Romualdez reaffirmed the House’s commitment to passing the remaining three of the 28 Ledac bills targeted for approval before the end of the 19th Congress: amendments to the Electric Power Industry Reform Act (Epira), the Agrarian Reform Law, and the Foreign Investors’ Long-Term Lease Act.
hails completion of Jalaur River project
ORMER Senate President Franklin
Drilon on Sunday welcomed the competion of the Jalaur River MultiPurpose Project (JRMP II) that was started in the 1960s.
Jalaur’s three major dams are set to be inaugurated on July 16 by President Marcos.
Drilon recalled that, “The administrationpf the late President Noynoy Aquino, moved heaven and earth to secure funding for the project’s second phase, decades after its initial conceptualization in the 1960s.”
“In 2023, President Marcos approved the release of additional funds necessary for the project’s completion, continuing the project first initiated by his father,” he said.
The project’s journey began under the leadership of President Ferdinand Marcos Sr., who completed the first phase in 1983, Drilon said.
In the July 19, 2023, the National Economic and Development Authority Board meeting chaired by President Marcos, the board approved the loan restructuring program amounting to P8.48 billion for the completion of JRMP II.
“We extend our gratitude to President Marcos and the late President Aquino for prioritizing this vital infrastructure project,
which is crucial for addressing the country’s food security challenges,” Drilon said.
“This is a legacy project that unites political names, and I am proud to have played a crucial role in bringing this six-decade-old vision to completion,” Drilon said.
JRMP II’s first phase began in the 1960s after the fourth Congress passed Republic Act 2651, mandating the construction of the Jalaur River Multi-Purpose Project.
Despite its promising start, the project’s second phase faced multiple delays due
to funding shortages.
The Aquino administration was instrumental in revitalizing the project, which officially commenced in 2011.
Through Drilon’s efforts, the administration obtained crucial funding from the Korean Exim Bank which extended a $207 million loan to the Philippines, considered to be the largest Official Development Assistance (ODA) project from South Korea to the Philippines. The loan carried a very low interest rate of 0.15 percent per annum. China’s interest rate.
One of the project’s primary benefits, according to Drilon, is its potential to significantly boost rice production, thus stabilizing rice prices—a major inflation driver in the country.
The National Irrigation Administration in Western Visayas, led by Jonel Borres, had earlier said that the project would be fully operational by 2025, which would be a big boost in the nation’s food security.
The project also includes the construction of significant infrastructure such as the 109-meter high dam, 38.5-meter afterbay dam, and the 80.74-kilometer high line canal, Drilon noted.
Drilon said the JRMP II is set to provide year-round irrigation to approximately 31,840 hectares of farmland in Iloilo, benefiting 25,000 farmers. This will lead to a 71.54 percent increase in rice production in the province, from 197,545 to 338,874 metric tons annually.
Agriculture Secretary Francisco P. Tiu Laurel Jr had earlier said JRMP II will benefit around 4,500 tribesmen in Iloilo province.
The JRMP II is one of the 194 identified priority infrastructure projects under the “Build Better More” (BBM) program of the government.
ERC to distribution utilities: Prepare to lower competition threshold to 100 kilowatt-hours
By Lenie Lectura @llectura
THE Energy Regulatory Commission (ERC) will allow distribution utilities (DUs) to prepare for the lowering of the RCOA (Retail Competition and Open Access) threshold to 100 kilowatt-hour (kWh).
RCOA allows contestable customers to decide which electricity suppliers to source power from. Under the current provisions of RCOA , companies are allowed to make a choice on their energy supplier if they have a monthly consumption of at least 500 kWh.
“We are eyeing a three to four year transition. We want to announce it ahead of time so that DUs can also prepare because I think the biggest impact would be on the DUs because their captive customer base will be shifting to the contestable [mode]. So they need to prepare accordingly, that’s why we want to announce it ahead of time,” said Enery Regulation Commissioner Monalisa Dimalanta said.
The establishment of RCOA is mandated by the Electric Power Industry Reform Act of 2001 (Epira) to offer options to the end-users and grow the market. It is also expected to lower power rates as it will further tighten competition among electricity suppliers.
“Our goal is to do it soon. How we will design the lowering of the threshold, that’s what we need to study. Actually, we’ve been studying it so that’s what we need to formalize,” added Dimalanta.
Last March, the ERC approved the eligibility thresholds for participation in the RCOA in Mindanao.
Mindanao consumers with an average monthly peak demand of at least 500 kWh for the 12 months preceding March 26 will be allowed to contract with any licensed-authorized electricity supplier on a voluntary basis. This is consistent with the thresholds put in place in Luzon and the Visayas.
According to the ERC, there are 239 end-users eligible for the RCOA scheme in Mindanao. If the threshold is to be placed at one megawatt (MW) or higher there will only be 102 eligible end-users in Mindanao.
Meanwhile, Dimalanta said her office will soon come out with the price determination methodology that will be used to evaluate price offers submitted by bidders in the third round of the green energy auctions (GEA).
“We’ve been working on it, but we need to formalize the process because there will be public consultation for the rates, so there’s a process that we have to go through,” she said.
GEA 3 and 4 are targeted to commence this year, the Department of Energy (DOE) said last week. The GEA program was designed to continuously trigger the increase of renewable energy (RE) capacity in the country. The DOE wants the GEA to be conducted on a yearly basis, in a bid to promote RE as the country’s primary source of energy.
The first round of GEA was conducted in 2022. It generated almost 2,000 MW of capacities that were committed to deliver energy from 2023 to 2025.
For the second round, the winning bids were equivalent to 3,440.756 MW of RE capacities committed for development and installation from 2024 to 2026.
GEA3 will cater to non-Feed-InTariff (Non-FIT) eligible RE technologies such as geothermal, impounding hydro and pumped-storage hydro. The estimated capacities are 699 MW from impounding hydro; 3,120 MW from pumped-storage hydro; and 380 MW from geothermal. The target Delivery Commencement Period (DCP) for both Impounding hydro and pumpedstorage hydro shall be from 2028 to 2030 while for geothermal, the DCP shall be from 2024 to 2030. The GEA-3 will also include runof-river (ROR) Hydro, which is a FITEligible RE technology. An estimated 200 MW of RE capacity from ROR hydro is expected to be auctioned, with a target DCP beginning 2026 to 2028. For GEA 4, the DOE was supposed to offer 8,200 MW of RE capacities but the agency said there is a need to increase this in a bid to achieve and possibly surpass the government’s RE capacity target of 35-percent share in the energy mix by 2030 and 50 percent by 2040.
Upgrade of Naia T3 cooling system on final phase
By Lorenz S. Marasigan @lorenzmarasigan
THE Department of Transportation (DOTr) said on Sunday the final phase of the upgrading of Ninoy Aquino International Airport Terminal 3 cooling system has started.
The program involves the installation of six new cooling towers aimed at significantly enhancing the terminal’s air conditioning efficiency. This is scheduled for July 16 and 17 between 9 p.m. and 9 a.m.
The process, the Manila International Airport Authority (Miaa), said will require a temporary shutdown of the centralized cooling system.
To mitigate the impact of this shutdown, Miaa will operate fans and blowers to circulate air throughout the terminal.
The areas affected by the cooling system shutdown include check-in counters, immigration departure zones, final security checks for both domestic and international flights, baggage carousels for arriving passengers, and the arrival lobby.
Approximately 27,000 passengers on 117 flights may experience discomfort due to the reduced air circulation.
“Please bear with us. The upgrades are intended to bolster the terminal’s capability to maintain ideal temperatures efficiently thereby ensuring a more pleasant experience for all airport users,” Miaa General Manager Eric Jose Ines said. He added that Miaa’s medical team will be on high alert to respond to any emergencies during the upgrade process.
Additionally, stand-alone air conditioning units will be deployed in various areas to provide spot cooling. Despite these measures, passengers may experience suboptimal comfort levels during the 12hour interruption.
Editor: Jennifer A. Ng
PHL rice imports seen touching new record despite high prices
TBy Ada Pelonia @adapelonia
HE country’s rice imports will reach a new record this year despite the spike in international quotations, according to a report published by the United States Department of Agriculture (DA).
The USDA said in its latest report that the Philippines’s imported rice purchases will hit 4.7 million metric tons (MMT) or 1 MMT higher than the 3.61 MMT it imported last year.
The agency had adjusted upwards its rice imports forecast for the Philippines this year from the initial 4.6 MMT.
“Total imports are estimated higher on increases for Malaysia, the Philippines, and Cameroon,” the USDA report read.
It also noted that the Philippines imported some 2.3 MMT of rice in the first five months of the year.
“Vietnam, the largest supplier historically, has exported 1.8 million tons during this period. Due to rising global prices and tighter exportable supplies in Vietnam, the Philippines has shifted some purchases to other suppliers.”
Meanwhile, the report said the country’s increased level of imports resulted in “closer connectivity” between international and Philippine rice prices.
“Although the Philippines does not import from India, India’s ban on regular milled rice exports last year had secondary impacts.”
The USDA noted that as India’s exports of this type of rice diminished, demand shifted to other suppliers, such as Vietnam and Thailand, pushing up their export prices.
“Buyers in the Philippines chose to pay these elevated prices from Southeast Asian suppliers, which resulted in higher retail prices in the Philippines.”
Data from the Bureau of Plant Industry (BPI) revealed that the country’s imported rice arrivals breached 2.3 MMT in the first semester, 24 percent higher than last
year’s 1.86 MMT.
Lower output
BASED on the Philippine Statistics Authority’s (PSA) survey of standing crops, the country’s paddy rice output likely dropped by 8.6 percent to 3.88 MMT in the second quarter from the previous year’s actual output of 4.25 MMT, as El Niño wreaked havoc on farmlands.
The latest figure is also 0.6 percent lower than the PSA’s initial estimate of 3.91 MMT.
As of June 1, the agency said the total palay harvest area during the period likely shrank by 7.2 percent to 891,770 hectares (ha) from the 960,870 ha recorded in the same period last year.
The PSA also said that palay yield may have fallen by 1.4 percent to 4.36 metric tons (MT) per hectare from the previous year’s 4.42 MT.
“As of 01 June 2024, about 771,900 hectares or 86.6 percent of the 891,770 hectares updated harvest area of standing crop have been harvested. This translates to palay output of 3.16 million metric tons,” the PSA said in the report published recently.
“Of the total area of 119,870 hectares of standing palay yet to be harvested as of 01 June 2024, 1.4 percent were at the
Govt details strategy for boosting farmers’ income, agri
By Jovee Marie N. Dela Cruz @joveemarie
THE administration of President Ferdinand R. Marcos Jr. is steadfast in its commitment to enhancing farmers’ income and bolstering agricultural productivity, the National Irrigation Administration (NIA) said.
In a Palace statement over the weekend, NIA Administrator Eduardo Guillen said these objectives can be achieved through a “holistic approach” across various government agencies.
“We are leveraging the transformation of irrigators’ associations (IAs) into cooperatives to facilitate more efficient distribution of interventions to farmers nationwide,” Guillen said.
“Now, we are organizing our IAs, our farmers, into cooperatives. This is in line with the directive of our President that our farmers should capture the whole value chain of rice production. Their earnings should not solely depend on the time they sell palay.”
Guillen said NIA is collaborating closely with other agencies such as the Philippine Rice Research Institute (PhilRice), the
productivity
Philippine Center for Postharvest Development and Mechanization (PHilMech), the Philippine Crop Insurance Corporation (PCIC), and the Cooperative Development Authority (CDA) to improve service delivery and program implementation for farmers.
He said they are eyeing the provision of a new rice processing system to be operated by a farmers’ cooperative formed from the irrigators’ association.
He said this would address a longstanding issue in the agricultural sector where farmers’ incomes are calculated based on the sale of unprocessed palay.
New dam
MEANWHILE , Marcos is set to inaugurate a dam and a rice processing system in Ilocos Norte next week, according to the NIA official.
The Ilocos Norte rice processing system aims to lower the price of rice without sacrificing farmers’ earnings, added Guillen in a separate Palace statement.
“On July 19, our president will inaugurate a dam in Ilocos Norte,” he said.
“This initiative is key to achieving the goal
Biden faces mounting frustration from farmers over biofuel policy
PRESIDENT Joe Biden’s reelection campaign has had a tough week. Lingering in the background is a boom he touted for American farmers that hasn’t panned out, creating one more thorn in his side as he vies to win favor in crucial swing states.
At the heart of the matter is production of biofuels, which can be made from crops like soybeans and corn, or from waste products like used cooking oil. The fuels benefit from government initiatives, regardless of whether the ingredients are produced in the US or overseas, pushing fuelmakers to import raw materials whenever it’s more profitable.
A flurry of incentives under Biden’s landmark climate bill, along with a growing number
of state programs, are spurring greater demand for fuel ingredients of all types, but especially those made from waste fats and oils, which typically boast a small carbon footprint and in turn are highly valued under policies aimed at fighting climate change.
US biofuel producers are increasingly making renewable diesel and sustainable aviation fuel from raw materials that come from Asia and South America. Imports of used cooking oil from China and waste beef fat from Brazil have climbed to a record, eroding demand for US crops.
“The US is designing rules to help our competitors and our competing countries’ farmers,” said Gordon Denny, an agricul -
reproductive stage and 98.6 percent were at the maturing stage.”
Meanwhile, the PSA said corn output in the second quarter likely fell by 19.3 percent to 1.19 MMT from last year’s 1.47 MMT. This showed a 0.8 percent decline from its earlier projection of 1.2 MMT.
The harvest area during the period was expected to contract by 15 percent to 347,470 ha from the 408,930 ha recorded in the previous year while yield per hectare may have declined by 5 percent to 3.42 MT from 3.60 MT.
The PSA said about 85.8 percent of the updated standing crop of 347,470 ha of corn during the quarter has been harvested, translating to 1.05 MMT of corn output.
“Of the total area of 49,280 hectares of standing corn yet to be harvested as of 01 June 2024, about 3.7 percent were at the reproductive stage, and 96.3 percent were at the maturing stage.”
The Department of Agriculture (DA) reported that the volume of production losses for agricultural and fishery areas reached 441,801 MT, with palay and corn bearing the brunt of the weather phenomenon.
The DA said the production losses are equivalent to P4.75 billion for rice and P3.37 billion for corn.
of reducing rice prices without sacrificing farmers’ income. Lowering rice prices often means compromising farmers’ earnings.”
The rice processing system, Guillen noted, is run by a farmers’ cooperative composed of members of the irrigators’ association.
Guillen said the traditional method of assessing farmers’ earnings based solely on the sale of palay (unhusked rice) was flawed and needed revision.
He said an investment of P50,000 in hybrid rice typically yields around eight tons per hectare from irrigated fields, saying this efficient production process reduces the production cost of palay to approximately P10 per kilogram.
“For instance, with hybrid rice, we see an investment of P50,000 yielding eight tons on average from irrigated fields. This brings the production cost of palay to just P10 per kilo. Doubling that to give farmers a 100 percent income means the production cost of rice is around P20 per kilo.”
Guillen proposed a strategy to further enhance farmers’ earnings: empowering them to process and sell rice directly.
“How do you increase their earnings? If farmers process and sell the rice themselves at P40 per kilo, they capture an additional P20 of value. This is the added value the President wants to capture.”
tural consultant and former procurement director at Bunge Global SA.
While agriculture isn’t currently capturing the political headlines, the perception that American growers are being left behind has prompted both Republican and Democratic US senators in recent months to push the Biden administration to address the issue. And all this comes at a time when US farm income is poised for the biggest decline since 2006, which means farmer frustration could help boost turnout of rural pro-Republican voters in key battlegrounds states like Michigan and Wisconsin.
“To me, it’s one of the biggest fiascos of the Biden administration policy,” said Bill Haugen, an agricultural land manager in South Dakota.
“We are currently producing all this crop here and, in order for them to use tax credits, we are going overseas now to get product?” Bloomberg News
PALAWAN farmers are preparing to plant rice in this BusinessMirror file photo.
Global leaders condemn Donald Trump’s assassination attempt
By Kanis Leung The Associated Press
HONG KONG—Global leaders have expressed concern Sunday over an assassination attempt targeting former US President Donald Trump at a rally in Pennsylvania that left one attendee dead and critically injured two others, with many condemning the violence that shocked the world.
Trump’s campaign said the presumptive Republican nominee was doing “fine” after being whisked off the stage though the shooting pierced the upper part of his right ear.
The Secret Service said it killed the suspected shooter who attacked from an elevated position outside the rally venue. US authorities are still investigating the shooting.
australia
A USTRALIA n P rime Minister Anthony Albanese condemned the attempted assassination as an inexcusable attack on the United States and Australia’s shared democratic values.
“In Australia, as in the United States, the essence and the purpose of our democracies is that we can express our views, debate our disagreements and resolve our differences peacefully,” Albanese told reporters in the Australian Parliament House.
austria
AUSTRIA n Chancellor Karl n ehammer said on social media platform X that he was appalled by the attempt and wished Trump a quick and full recovery.
“Political violence has no place in our society! My thoughts are with all the victims of this attack!” he said.
brazil
B R A z I L S P resident Luiz Inácio Lula da Silva said on X that the attack must be “strongly repudiated” by all democracy defenders and dialogue in politics, calling the incident unacceptable. canada
C A n A DA S P rime Minister Justin
Trudeau posted on X saying that he was sickened by the shooting and his thoughts were with Trump, those at the event and all Americans.
“It cannot be overstated—political violence is never acceptable,” he wrote.
egypt Egy P TIA n P resident Abdelfattah El Sissi expressed concern and stressed his country’s condemnation of the attack in a statement.
“I express my wishes for Trump’s speedy recovery and for the US election campaigns to be resumed in a peaceful and healthy atmosphere, free of any aspects of terrorism, violence, or hatred,” he said.
el Salvador
E L S A LVADOR S p residential palace said President n ay ib Bukele condemned “the assassination attempt” on Trump.
“There is no place for violence in a democracy,” the President’s office said in a press release posted on X.
France
F R E n CH President Emmanuel Macron sent his wishes to Trump for a prompt recovery. “It is a drama for our democracies. France shares the indignation of the American people,” he posted on X.
india
I n D IA S P rime Minister n a rendra Modi said on X that he was deeply concerned by “the attack on my friend.”
“Strongly condemn the incident. Violence has no place in politics and democracies,” he said. “Our thoughts and prayers are with the family of
the deceased, those injured and the American people.”
israel
I S RAEL S P resident Isaac Herzog said on X that he condemned “utterly and unequivocally” the attempt on Trump’s life and wished him a fast recovery on behalf of all the Israeli people, adding their thoughts are with the victims and their families.
italy
I T AL y’ S P remier g io rgia Meloni wished Trump a quick recovery and said in a statement she hoped “the next few months of the election campaign will see dialogue and responsibility prevail over hatred and violence.”
Japan
“W E must stand firm against any form of violence that challenges democracy. I pray for former President Trump’s speedy recovery,” Japanese Prime Minister Fumio Kishida said on X.
Mexico
M E XICO S p resident Andrés Manuel López Obrador denounced the attack on X and said “violence is irrational and inhumane.”
South Korea
S OU TH K orea’s President yo on Suk ye ol said on X that he was appalled by “the hideous act” of political violence. He added the people of Korea stand in solidarity with Americans.
Taiwan
T A IWA n ’ S P resident Lai Ching-te
US Secret Service investigates how gunman who shot and injured Trump was able to get so close
By Michael Biesecker & Michael Kunzelman
The Associated Press
th E u S S ecret Service is investigating how a gunman armed with an AR-style rifle was able to get close enough to shoot and injure former President Donald tr ump at a rally Saturday in Pennsylvania, a monumental failure of one of the agency’s core duties.
t h e gunman, who was killed by Secret Service personnel, fired multiple shots at the stage from an “elevated position outside of the rally venue,” the agency said.
An Associated Press analysis of more than a dozen videos and photos taken at the tr ump rally, as well as satellite imagery of the site, shows the shooter was able to get astonishingly close to the stage where the former president was speaking. A video posted to social media and geolocated by the AP shows the body of a man wearing gray camouflage lying motionless on the roof of a manufacturing plant just north of the Butler Farm Show grounds, where tr ump’s rally was held.
t h e roof was less than 150 meters (yards)
from where tr ump was speaking, a distance from which a decent marksman could reasonably hit a human-sized target. For reference, 150 meters is a distance at which u S A rmy recruits must hit a scaled human-sized silhouette to qualify with the M16 assault rifle in basic training. t h e AR-15, like the shooter at the tr ump rally had, is the semi-automatic civilian version of the military M16.
t h e FB i early Sunday identified the shooter as t h omas Matthew c r ooks, 20, of Bethel Park, Pennsylvania.
t h e Secret Service didn’t have anybody at a late-night news conference where FB i and Pennsylvania State Police officials briefed reporters on the shooting investigation. FB i S pecial Agent in c ha rge Kevin Rojek said it was “surprising” that the gunman was able to fire at the stage before he was killed.
Members of the Secret Service’s counter sniper team and counter assault team were at the rally, according to two law enforcement officials. t h e officials spoke on condition of anonymity because they weren’t authorized to discuss details of the investigation.
t he heavily armed counter assault team, whose Secret Service code name is “ h a wkeye,” is responsible for eliminating threats so
that other agents can shield and take away the person they are protecting. t h e counter sniper team, known by the code name h ercules,” uses long-range binoculars and is equipped with sniper rifles to deal with long-range threats.
u S S ecretary of h o meland Security Ale -
jandro Mayorkas said his department and the Secret Service are working with law enforcement to investigate the shooting. Maintaining the security of presidential candidates and their campaign events is one of the department’s “most vital priorities,” he said.
“We condemn this violence in the strongest possible terms and commend the Secret Service for their swift action today,” Mayorkas said. “We are engaged with President Biden, former President tr ump and their campaigns, and are taking every possible measure to ensure their safety and security.”
c a lls for an investigation came from all sides.
James c o mer, a Kentucky Republican who is the h o use o v ersight c o mmittee chairman, said he contacted the Secret Service for a briefing and called on Director Kimberly c h eatle to appear for a hearing. co mer said his committee will send a formal invitation soon.
Biden says ‘everybody must condemn’ attack on Trump and later speaks with ex-president
By Will Weissert The Associated Press
REHOBOTH BEACH, Del.— President Joe Biden said Saturday that “everybody must condemn” the suspected assassination attempt on former President Donald Trump.
Addressing the nation about two hours after the shooting, Biden said he was relieved that Trump is reportedly “doing well.” He said he had been unable to reach Trump before his remarks, but the White House said he did speak to Trump several hours later.
was at a nearby church for mass when the shooting occurred.
As he left the church, reporters asked if the president had been briefed about the shooting. Biden turned toward reporters with a serious look on his face but replied simply, “no,” before stepping into his motorcade.
Biden received an “initial briefing” from aides moments later then convened security officials for a more in-depth update from Kimberly Cheatle, the director of the United States Secret Service, Homeland Security Secretary Alejandro Mayorkas, and White House homeland security adviser Liz Sherwood-Randall.
wished Trump a speedy recovery and said his thoughts and prayers are with Trump on X. He said political violence of any form is never acceptable “in our democracies” and offered his condolences to the victims.
The philippines
P H ILIPPI n E P resident Ferdinand Marcos Jr. said he was relieved to learn that Trump is fine on X and his thoughts and prayers are with him and his family.
“Together with all democracy loving peoples around the world, we condemn all forms of political violence. The voice of the people must always remain supreme,” he said.
ukraine
A L SO on X, Ukrainian President Volodymyr z e lenskyy said he was appalled to learn about the shooting, saying such violence has no justification and no place anywhere in the world. He added he was relieved to learn that Trump is safe.
z e lenskyy extended his wishes for strength to everyone who was horrified by the event. “I wish America emerges stronger from this,” he said.
united Kingdom
UK Prime Minister Keir Starmer said on X that he was appalled by the “shocking scenes,” and sent his best wishes to Trump and his family.
“Political violence in any form has no place in our societies and my thoughts are with all the victims of this attack,” he said. Associated Press journalists around the world contributed to this report.
“Political violence in all forms is unAmerican and unacceptable. t h ere are many questions and Americans demand answers,” c o mer said in a statement.
u S R ep. Ritchie to rres, a n e w York Democrat, called for investigating “security failures” at the rally.
“ t h e federal government must constantly learn from security failures in order to avoid repeating them, especially when those failures have implications for the nation,” to rres said.
Wisconsin Gov. to ny Evers, a Democrat, posted on X that he and his staff are in contact with security planning coordinators ahead of the Republican n at ional c o nvention set to begin Monday in Milwaukee. “We cannot be a country that accepts political violence of any kind—that is not who we are as Americans,” Evers said.
t h e FB i said it will lead the investigation into the shooting, working with the Secret Service and local and state law enforcement.
Attorney General Merrick Garland said the Justice Department “will bring every available resource to bear to this investigation.”
“My heart is with the former President, those injured, and the family of the spectator killed in this horrific attack,” Garland said in a statement. “We will not tolerate violence of any kind, and violence like this is an attack on our democracy.” Associated Press writers Colleen Long and Zeke Miller in Washington contributed to this report.
“We cannot allow this to be happening,” Biden said. “The idea that there’s violence in America like this is just unheard of.” Biden, speaking without a teleprompter, said he was waiting for additional information before formally calling the attack an attempted assassination on the former president.
“I have an opinion, but I don’t have any facts,” he told reporters, pledging to provide updates as he learns more.
After midnight, he returned to the White House, cutting short a weekend stay in Delaware. The White House said he and Vice President Kamala Harris will receive an updated briefing from homeland security and law enforcement officials Sunday morning.
The president delivered remarks from the White House’s emergency briefing room in Rehoboth Beach, Delaware, which is set up whenever the president travels to allow him to deliver remarks to the country in a matter of minutes. He was spending the weekend at his beach home and
Many Republicans quickly blamed the violence on Biden and his allies, arguing that sustained attacks on Trump as a threat to democracy have created a toxic environment. They pointed in particular to a comment Biden made to donors on July 8, saying “it’s time to put Trump in the bullseye.”
The FBI early Sunday identified the shooter as Thomas Matthew Crooks, 20, of Bethel Park, Pennsylvania. There was no immediate information on his motivations.
The Biden campaign said Saturday that it was pausing all messaging to supporters and working to pull down all of its television ads as quickly as possible in light of the shooting.
Harris said in a statement that she was also briefed, adding that she and her husband “are relieved” that Trump was not seriously inured.
“We are praying for him, his family, and all those who have been injured and impacted by this senseless shooting,” she said.
new iranian president pledges ‘balance’ in relations, warns uS against pressure
By Amir Vahdat The Associated Press
tE h RA n , i ran— i ran’s newly elected president said his government will create “balance in relations with all countries” in line with national interests and the prerequisites for peace but stressed to the u n ited States that his country “will not respond to pressure.”
Masoud Pezeshkian penned “My Message to t h e n e w World” in the country’s state-owned te hran t i mes late Friday, praising the latest presidential election that “demonstrated remarkable stability” and vowing to uphold “promises i made during my campaign.”
Pezeshkian, a 69-year-old heart surgeon and longtime lawmaker, bested hard-liner former nuclear negotiator Saeed Jalili to clinch July 5’s runoff election to replace President Ebrahim Raisi, who was killed in a helicopter crash in May.
h e s aid in his message his administration would “prioritize strengthening relations with our neighbors” and urged Arab countries to use “all diplomatic leverages” to push for a lasting cease-fire in the ongoing i sr ael- h am as war in the Gaza Strip that started o c tober 7.
i r an has long supported the militant group h am as, and Pezeshkian on Wednesday expressed his all-out support of “the Palestinian resistance” in a message to the group’s chief i sm ail h an iyeh.
Pezeshkian, in the letter Friday, hailed his country’s relations with Russia and c h ina, which “consistently stood by us during challenging times.” h e s aid Moscow was “a valued strategic ally” and his government would expand bilateral cooperation. h e a lso expressed willingness to “support initiatives aimed at” achieving peace between Russia and u k raine in the ongoing war that entered its third year.
t h e president also said he looked forward to furthering cooperation with Beijing and applauded it for brokering a deal to normalize relations between i ran and Saudi Arabia after seven years of diplomatic tensions. Pezeshkian said he looks forward to
engaging in constructive dialogue with European countries “based on principles of mutual respect” despite a relationship that has known “its ups and downs.”
i n May 2018, the u S u nilaterally withdrew from the Joint c o mprehensive Plan of Action—a nuclear agreement that also included Russia, c h ina, Britain, France and Germany. Since then, Western powers have accused the i s lamic Republic of expanding its nuclear program and enriching uranium to an unprecedented 60% level, near-weapons-grade levels. t h e u S ha s issued severe, mainly economic, sanctions against i ran.
Pezeshkian accused the European countries of reneging on commitments made, following the u S w ithdrawal, to ensure “effective banking transactions, effective protection of companies from u S s anctions, and the promotion of investments in i ran.” h o wever, he added there were still many opportunities for collaboration between i ran and Europe.
h e then addressed the u S , underscoring his country’s refusal to “respond to pressure,” adding that i ran “entered the J c P o A in 2015 in good faith and fully met our obligations.” Pezeshkian said the u S b acking out has inflicted “hundreds of billions of dollars in damage to our economy” and caused “untold suffering, death and destruction on the r anian people—particularly during the c o vid pandemic” due to sanctions.
Pezeshkian said Western countries “not only missed a historic opportunity to reduce and manage tensions in the region and the world, but also seriously undermined the n o n-Proliferation tr eaty.” h e emphasized that “ i ran’s defense doctrine does not include nuclear weapons.” i ran has held indirect talks with President Joe Biden’s administration, though there’s been no clear movement toward constraining te hran’s nuclear program for the lifting of economic sanctions. Pezeshkian also accused the u S a dminis
Editor: Angel R. Calso
Massive strike in Gaza Strip targets Hamas commander, killing 90 including children
By Mohamed Jahjouh The Associated Press
KHAN YOUNIS, Gaza Strip—
Israel said it targeted Hamas’ shadowy military commander in a massive strike Saturday in the crowded southern G aza Strip that killed at least 90 people including children, according to local health o fficials. Israeli Prime Minister Benjamin Netanyahu said “there still isn’t absolute certainty” that Mohammed Deif and a second Hamas commander, Rafa Salama, were killed.
Hamas rejected the claim that Deif was in the area, saying “these false claims are merely a cover-up for the scale of the horrific massacre.” The strike took place in an a rea Israel’s military had designated as safe for hundreds of thousands of Palestinians.
Deif and Hamas’ top official in Gaza, Yahya Sinwar, are believed by Israel to be the c hief architects of the October 7 attack that killed some 1,200 people in southern Israel and triggered the Israel-Hamas war. Not seen in public for years, Deif has long topped Israel’s most-wanted list and is believed to have escaped multiple Israeli assassination attempts. On October 7, Hamas issued a rare voice recording of Deif announcing the “Al Aqsa Flood” operation.
The strike came at a delicate time in cease-fire efforts. Deif’s death would hand Israel a major victory and Hamas a painful psychological blow. It also could give Netanyahu a possible opening. Again on Saturday,
Palestinians
t he prime minister said Israel will not end the war until Hamas’ military capabilities are destroyed. Deif’s death would be a significant step in that direction.
A ll Hamas leaders are marked for death and “we will reach them all,” Netanyahu said. He added that no hostages had been nearby when the strike occurred, without explaining how he knew that.
Deif’s killing could also encourage Hamas to harden its positions in talks. He has been in hiding for more than two decades and is believed to be paralyzed. One of the only
known images of him is a 30-year-old ID photo released by Israel. Even in Gaza, only a handful of people would recognize him. Saturday’s attack was one of the war’s deadliest. The Gaza Health Ministry reported 90 dead and at least 300 others injured.
A ssociated Press journalists counted over 40 bodies at overwhelmed Nasser Hospital nearby. Witnesses described an attack that included several strikes.
“A number of victims are still under the rubble and on the roads, and ambulance and civil defense crews are unable to reach
Russian shelling kills 4 in Ukraine as drone attacks escalate and oil depot goes up in flames
By Samya Kullab & Elise Morton
The Associated Press
KYIV, Ukraine—Russian shelling of Ukraine killed four people on Saturday, officials said, as the two countries exchanged drone attacks, one of which set ablaze a Russian oil depot.
Two people died in Ukraine’s partly occupied Kherson region and two were wounded in the attack close to the regional capital, said Gov. Oleksandr Prokudin. Two other people died Saturday afternoon and 22 were wounded in Ukraine’s northeastern Kharkiv region, according to Gov. Oleh Syniehubov. An oil depot in the Tsimlyansky district, deep inside Russia’s southwestern Rostov region, was set ablaze in the early hours of Saturday following a Ukrainian drone attack—the latest long-range strike by Kyiv’s forces on a border region.
Ukraine has in recent months stepped up aerial assaults on Russian soil, targeting refineries and oil
terminals in an effort to slow down the Kremlin’s war machine. Moscow’s army is pressing hard along the front line in eastern Ukraine, where a shortage of troops and ammunition in the third year of war has made defenders vulnerable.
Rostov Gov. Vasily Golubev said the drone attack caused a fire spanning 200 square meters (2,100 square feet), but there were no casualties. Some five hours after he reported the fire on the Telegram messaging app, Golubev said it had been extinguished.
In addition to two drones being intercepted over the Rostov region, Russian air defense systems overnight destroyed two drones over the country’s western Kursk and Belgorod regions, the Russian Ministry of Defense said.
Ukraine’s air defenses, meanwhile, intercepted four of the five drones launched by Russia overnight, the Ukrainian air force said. The fifth drone left in the direction of Belarus, said air force commander Mykola Oleschuk.
in Russia
Meanwhile, eight people were wounded in shelling in the town of Shebekino in Russia’s Belgorod region bordering Ukraine, Gov. Vyacheslav Gladkov said Saturday.
Vadym Filashkin, the Ukrainian governor of the partly occupied eastern Donetsk region, said that Russian attacks on Friday had killed six people and wounded 22. Also on Saturday, the Kremlin warned that the deployment of US missiles in Germany could make European capitals targets for Russian missiles.
The US and Germany announced Wednesday they would begin “episodic deployments” of long-range missiles to Germany in 2026, including Tomahawk, SM-6 and hypersonic missiles.
“We have enough capacity to contain these missiles but the potential victims are the capitals of these countries,” Kremlin spokesman Dmitry Peskov said, speaking on Russian state television. Morton reported from London.
Son of Asia’s richest man gets married in the year’s most extravagant wedding
By Rafiq Maqbool & Rajanish Kakade
The Associated Press
M UMBAI, India—The youngest son of Muke
sh Ambani, Asia’s richest man, married his longtime girlfriend early Saturday in what many dubbed the wedding of the year, attended by global celebrities, business tycoons and politicians, highlighting the billionaire’s staggering wealth and rising clout.
The wedding rituals, including exchanging garlands by the couple and walking around the sacred fire, began Friday and were completed past midnight.
The celebrations of Anant Ambani marrying Radhika Merchant took place at the Ambani-owned Jio World Convention Centre in Mumbai and the family home. The marriage culminated months of wedding events that featured performances by pop stars including Rihanna and Justin Bieber.
Prime Minister Narendra Modi attended a reception organized by the Ambanis on Saturday evening.
The Ambanis hosted a “blessing ceremony’’ for friends and family members to meet the couple and wish them a happy married life.
India Today television news channel reported that the newlyweds touched Modi’s feet as a show of respect and sought his blessings.
The four-day wedding celebrations began Friday with the traditional h i ndu wedding ceremony and will be followed by a grand reception to run through
the weekend. The guest list includes former British Prime Ministers Tony Blair and Boris Johnson; John Kerry, the former US special envoy for climate, Saudi Aramco CEO Amin h . Nasser; and Adele, l a na Del Rey, Drake and David Beckham, according to local media.
The Ambani family did not confirm the guest list.
Television news channels showed the arrivals of celebrities like Kim Kardashian, who was dressed in red, and professional wrestler and h o llywood actor John Cena.
Kardashian sisters Kim and Khloé took a ride in a motorized rickshaw through bustling Mumbai streets Friday before joining the wedding ceremonies, the Press Trust of India news agency said.
International guests wore traditional clothes by major Indian fashion designers. They put on embroidered sherwanis—long-sleeved outer coats worn by men in South Asia. Cena came in a sky-blue sherwani and white pants. Nick Jonas wore a pink sherwani and white pants.
Bollywood icons Amitabh Bachchan, Shah Rukh Khan, Salman Khan and Ranbir Kapoor attended the wedding and danced to popular h i ndi movie songs. Indian cricketers, including icons Sachin Tendulkar, Mahendra Singh Dhoni, Jasprit Bumrah, h a rdik Pandya and Suryakumar Yadav, were among the invitees.
Police imposed traffic diversions around the wedding venue from Friday to Monday to handle the influx of guests who flew to Mumbai, where heavy monsoon rains have caused flooding and flight dis -
them,” the Health Ministry said.
The Israeli military asserted that “additional terrorists hid among civilians” and described the location as surrounded by trees and several buildings. An Israeli official said the strike hit a fenced area of Khan Younis that was run by Hamas, saying it was not a tent complex but an operational compound. The official described the strike as precise. The army said the compound belonged to Salama. W itnesses said the strike landed in Muwasi, the Israeli-designated safe zone that stretches from northern Rafah to Khan Younis. Palestin
ians have fled to the coastal strip, sheltering mostly in
and in the hatchbacks of cars, on donkey carts and on carpets. A t the hospital, a baby in a pink shirt, her face covered with sand, cried while receiving first aid. A small boy lay motionless at the other end of the bed, one shoe gone. Many wounded
ruptions for the past week.
The extravaganza and the display of opulence that comes with the wedding have led many to raise questions about rising inequality in India, where the gap between rich and poor is growing. The event has also sparked anger among some Mumbai residents, who say they are struggling with snarled traffic.
“It affects our earnings. I don’t care much about the wedding,” said Vikram, a taxi driver who uses only one name.
The father of the groom, Mukesh Ambani, is the world’s ninth-richest man, with a net worth of $116 billion, according to Forbes. h e s the richest person in Asia. h i s Reliance Industries is a conglomerate reporting over $100 billion in annual revenue, with interests that include petrochemicals, oil and gas, telecoms and retail.
The Ambani family owns, among other assets, a 27-story family compound in Mumbai worth $1 billion. The building contains three helipads, a 160-car garage and a private movie theater.
The groom, 29-year-old Anant, oversees the conglomerate’s renewable and green energy expansion.
h e a lso runs a 3,000-acre (about 1,200-hectare) animal rescue center in Gujarat state’s Jamnagar, the family’s hometown.
The bride, Radhika Merchant, also 29, is the daughter of pharmaceutical tycoon Viren Merchant and is the marketing director for his company, Encore h ealthcare, according to Vogue.
A breath of fresh air: Revitalizing our cities through the Green Green Green Program
IN today’s fast-paced and urbanized world, the value of green spaces cannot be overstated. Parks and open areas provide more than just a breath of fresh air in bustling cities—they contribute to the overall well-being of residents, help fight environmental challenges, and foster social harmony. Understanding the significance of these green oases, the Department of Budget and Management (DBM) has relaunched the Green Green Green Program, a commendable initiative aimed at enhancing public open spaces and promoting sustainable development. (Read the BusinessMirror report, “DBM gives LGUs P1B for more public open spaces under ‘Green Green Green,’” July 12, 2024).
The Green Green Green Program, with an allocation of P1.055 billion, is designed to assist local government units (LGUs) in constructing, rehabilitating, repairing, and improving green open spaces across the country. These spaces encompass public parks, plazas, nature recreational parks, arboretums, and botanical gardens. Moreover, the program emphasizes the importance of mobility by supporting the construction of physically separated bicycle lanes, bike racks, pedestrian footpaths and walkways, sports facilities, and recreational trails. This multi-faceted approach not only improves the quality of the environment but also addresses pressing issues such as climate change, extreme heat, pollution, and flooding.
The Green Green Green Program’s benefits reach far beyond tangible environmental improvements. By investing in green infrastructure, the program fosters social cohesion and community engagement. Urban parks and open spaces serve as gathering points for people from diverse backgrounds, promoting inclusivity and providing a shared sense of belonging. These spaces become catalysts for interaction, recreation, and cultural exchange, enriching the fabric of society. Moreover, they contribute to the physical and mental well-being of residents by offering spaces for exercise, relaxation, and respite from the demands of urban life.
With 80 LGUs set to benefit from the program, this initiative promises to transform communities nationwide. It aligns with the vision of a sustainable future, where economic progress goes hand in hand with environmental stewardship. By embracing green infrastructures, these LGUs can create vibrant and livable cities and municipalities, fostering economic growth and attracting investment while ensuring a high quality of life for their residents. The program’s revival also demonstrates the commitment of the Marcos administration to expanding and upgrading infrastructure for the nation’s economic transformation.
To ensure the success of the Green Green Green Program, the DBM has issued guidelines that prioritize environmentally conscious design schemes. Projects must respect the existing attributes of the site and incorporate green and blue infrastructure to maintain ecosystem functions and address climate and disaster risks. Furthermore, an emphasis on waste reduction and long-term sustainability underscores the program’s commitment to responsible development. Encouraging the use of domestic materials and locally produced goods also promotes economic growth and supports local industries.
The Green Green Green Program is not merely an investment in physical infrastructure; it is an investment in the future of the Philippines—a future that embraces sustainable development, environmental responsibility, and the well-being of all Filipinos. Let us seize this opportunity to transform our cities and municipalities, create a greener nation, and leave a lasting legacy for generations to come.
BusinessMirror
The collective voice of our local book community
SRISING SUN
oMe members of the local book community—readers, publishers, and authors—have reacted strongly to the “honest mistake” committed by the organizers of the Manila International Book Fair (MIBF).
Some days ago, the organizers announced that small exhibitors, those occupying fewer than 15 booths, couldn’t hold book signings at their booths. The initial message from MIBF stated that this measure was intended to avoid disturbances to other exhibitors.
However, they have since retracted the policy after receiving backlash from smaller publishers, exhibitors, authors, and book fair patrons, with some even calling for a boycott of this year’s event. This
incident has sparked a broader conversation about fair treatment and opportunities for all participants, regardless of their size or influence.
Meanwhile, the Atimonan Book Fair 2024, the largest book fair in Quezon, is scheduled for August 4 from 8:00 a.m. to 8:00 p.m. at Bulwagang Balagtas, Atimonan, Quezon. Organized by the Atimonan Historical Society, the event celebrates the history and culture of Atimonan.
The fair will feature interactive
workshops and seminars, art activities and exhibits, live performances, and opportunities to meet authors and illustrators. Invited speakers include Dr. Xiao Chua, Genaro Gojo Cruz, Marco Antonio Regalo Rodas, PhD, Christian Andrew Cervantes, MAEd, Ronald Verzo, Ruth Valorie Catabijan, Kein Chito, Dian Mancenido, and Manny Camara.
The lineup of publishers and exhibitors includes Book Writers Club, Dogan’s Book Publishing Services, Jane Vergara, Isang Balangay Media Productions, Kahel Press, Kawangis Publishing, Kingfisher Komiks, Lampara Books, MSC Literary Club, Pandayan Bookshop Gumaca, RJP Books, Tayabas Books/ Tayabas Studies Center/ATAGAN, Southern Voices Printing Press, and Vibal Group.
In Negros Occidental, the Bago City Public Library has launched a book and magazine donation drive for the 255 inmates at the city’s district jail. Many inmates are avid readers, and the library hopes to receive donations before its first anniversary
First Lady Liza Araneta-Marcos spearheads Pasig River rehab
The once heavily polluted Pasig River is undergoing a remarkable transformation. Thanks to the vision of First Lady Liza Araneta-Marcos, who is leading a high-level initiative to integrate urban planning with environmental sustainability, the river is now a popular destination, especially at night. This revitalized area, which is now a favorite “pasyalan” or esplanade, offers Instagramworthy views and marks the initial steps toward a grand vision of rehabilitating the river.
The Pasig River Esplanade, the first 250-meter stretch of the planned rehabilitation of this vital waterway of commerce and daily life, is now bustling with harried employees exhaling their corporate stresses, lovers on a leisurely walk, elders with their grandkids strolling amidst neo-classical design outposts, and families enjoying the view from Jones Bridge to Plaza Mexico when night falls.
With the esplanade, the issue on the need for climate resilience and for comprehensive urban planning as well as commitment to environmental sustainability becomes easier to communicate to the citizens, especially with the looming threat of climate change that has led to floods. In a sense, the First Lady’s leadership in revitalizing the Pasig River
provides an eye-popping reminder in driving significant environmental initiatives.
The First Lady has taken on a challenging project: that of reviving the once majestic Pasig River where our old folks used to wash their clothes, take a dip or otherwise use the waterway for commerce. There are lots of paintings of the famed Fernando Amorsolo that depict the vibrant life along its riverbanks that is now dirtied by decades of neglect.
But with the program of Madam Liza Araneta-Marcos, the 25-kilometer riverbanks will have esplanades and civic spaces. These developments will ensure the accessibility of public areas for recreation and community activities. The “breathing” public spaces will result in a vibrant busi-
ness landscape and open the eyes of the citizenry to environmental concerns.
This approach in reviving the Pasig River not only addresses environmental concerns but also enhances the quality of life for residents, demonstrating the multifaceted benefits of climate-resilient urban planning. Also, addressing climate-related risks proactively reduces long-term costs associated with disaster recovery and economic losses.
The Pasig River Esplanade’s initial success, evident in the numerous YouTube videos showcasing its transformation, has sparked a ripple effect across other cities, highlighting the significance of embracing innovative approaches to urban resilience. Local Government Units can emulate this model by creating similar open public spaces, emphasizing the importance of a clean environment and climate resilience. This successful example serves as a blueprint for other cities to replicate, fostering a culture of sustainability and urban renewal.
Green roofs, sustainable drainage systems, and resilient housing are examples of strategies that have proven effective in enhancing climate resilience. These approaches offer practical solutions that can adapt to the Philippine context, promoting sustainable urban development.
The government has so far initiated several policies and
on July 25. Jail Welfare and Development Officer Christine Contreras-David stated that book donations may be sent via courier to Bago City District Jail, Rafael Salas Drive, Brgy. Lagasan, Bago City, Negros Occidental. The contact number to write on the courier form is 0995960-3288.
Our local community of authors, publishers, patrons, and readers is committed to inclusivity and support for smaller players, highlighting the power of collective voices. Similarly, the interest in reading among Bago City inmates illustrates the significant role books play, not only within distant communities but also in the lives of individuals, including those on society’s margins. It also emphasizes the importance of literacy and access to reading materials for everyone, promoting lifelong learning and personal growth.
These events clearly showcase the resilience, passion, and collaborative spirit of our ever-growing book-loving community in the country.
programs to integrate climate resilience into national and local planning frameworks. These initiatives emphasize the importance of building resilient infrastructure and adopting sustainable practices. But successful implementation is a must. That is what the Pasig River Esplanade communicates. It shows how urban planning can be incorporated in the revitalization of the waterway to attract business. In fact, social media is now abuzz with speculation on a tourism come-on for a river cruise that is much like that of the Venice Grand Canal, but this time with Levi Celerio music wafting in the air.
The Pasig River rehabilitation project, under the leadership of Liza Araneta-Marcos, exemplifies how comprehensive urban planning can address environmental degradation and enhance resilience. This initiative serves as a model for other cities in the Philippines and beyond, demonstrating the critical role of climate resilience in urban development.
The success of the first 250 meters of the Pasig River Esplanade underscores the importance of integrating climate resilience into urban planning. As cities worldwide grapple with the impacts of climate change, lessons from this initiative offer valuable insights into effective strategies for building resilient urban environments.
Atty. Jose Ferdinand M. Rojas II
Principles-based tax planning
DJoel L. Tan-Torres
DEBIT CREDIT
Conclusion
o the proposed guidelines to promote “principles-based tax planning” among Certified Public Accountants impinge on certain rights of affected individuals, including data privacy, the confidentiality of records, and privileged client-CPA communications? These guidelines, once implemented in July 2025, will result in CPAs making appropriate disclosures of their clients’ or employers’ tax strategy, policies, or other tax-related matters in the financial statements or other relevant public documents. (https://ifacweb. blob.core.windows.net/publicfiles/2024-04/Final%20Pronouncement%20-%20Tax%20Planning%20and%20Related%20Se). I have also been making a case that the BIR with the entire tax community should promulgate its regulations on this principles-based tax planning disclosure in conjunction with the professional accountancy sector initiative.
t he many examples in several major developed countries that I discussed in my last column indicate that disclosing certain tax information by clients and tax practitioners is an acceptable practice. t hese countries include the United states of America, the United Kingdom, and the members of the european Union. All of these have their own respective measures providing for the disclosure of tax information of taxpayers to prevent the abuse of tax rules and regulations. t hese taxation disclosure measures were promulgated despite these countries having their own stringent rules that protect individual rights on data privacy, confidentiality, and privileged client-professional communications.
It is noteworthy to assess the recently issued supreme Court decision on the Bureau of Internal revenue (BIr) requiring professionals to submit appointment books to monitor tax compliance of medical practitioners violates their right to privacy. o n March 3, 2024, the sC r uled in Gr 211772 and 212178 that r e venue r egulations no. 4-2014 requiring medical professionals to submit an affidavit indicating the rates, manner of billing, and the factors that they consider in determining service fees was an unconstitutional intrusion into the private rights of patients and a contravention of the professional ethical standards and norms on confidentiality among self-employed professionals. (https://sc.judiciary.gov.ph/wp-content/uploads/2024/05/211772.pdf). t h is decision affirmed portions of the position contained in the consolidated petitions filed by the Integrated Bar of the Philippines, the Association of sm all Accounting Practitioners of the Philippines, the Philippine Medical Association, and three others.
o n the other hand, the same sC decision affirmed the BIr authority
continued from A10
For one, putting priority on climate resilience safeguards communities, promotes sustainable development, and creates a better future for all residents. t h e Pasig r i ver project provides the template for large-scale initiatives that address local needs and priorities, and creates a sense of ownership and responsibility among residents. What the First Lady is doing is to emphasize community involvement and inclusive planning in the Pasig r iver rehabilitation project, and its success will mean investments coming our way with the way the government is trying to tackle environmental issues, the new global buzzword that has led to the floating of green bonds, bank loans that address climate issues and environmental concerns.
Alice’s Adventures in Not-so-Wonderland
Sto promulgate rules to effectively enforce the law and operationalize tax collection. However, it clearly emphasized that in the implementation of the BIr , the appropriate measures should be instituted so that its mandate of effective tax enforcement and the equally important need for the protection of personal privacy, confidentiality, and privileged client-professional communication are balanced and both maintained. A thorough review of the impact of the sC decision, including the concurring opinion of Justice Amy Laaro-Javier. (https://sc.judiciary.gov.ph/wp-content/uploads/2024/05/211772-LAZARO-JAVIER.pdf) should be done. t hese can include the discussion on the pertinent requirements of the Data Privacy Act, the various modes of discovery under ru le 28 of the ru les of Civil Procedure, and the cited deliberations on Bicameral Conference Committee on Ways and Means of october 1, 1997, on the amendment to the ta x Code section on the “power of the Commissioner to obtain information and to summon, examine and to take the testimony of persons.”
Are the Philippine tax and accountancy communities up and able to put in place a principle-based tax planning system? My answer is that a balanced framework can and should be instituted following global developments and initiatives.
Joel L. Tan-Torres was a former Commissioner of the Bureau of Internal Revenue. He has also held the various positions of Dean of the University of the Philippines Virata School of Business, Chairman of the Professional Regulatory Board of Accountancy, Tax partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co., and director of various corporate boards. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979. He is now back to his tax and consultancy practice and can be contacted at joeltantorress@yahoo.com and his firm JL2T Consultancy.
Siegfred Bueno Mison, Esq.
THE PATRIOT
Part three
ome 150 years after the publication of the children’s classic book “Alice in Wonderland,” the same nifty quotes, and life lessons ingrained therein, remain usable up to this day. A practical line often referred to is, “Hold your tongue!” said the Queen of Hearts, who turned purple as described in the timeless book, to which Alice replied, “I won’t!” In the continuing saga of our local “Alice” (mayor Alice Leal Guo of Bamban, Tarlac) who is at the center of the Senate inquiry into criminal activities linked to illegal PoGo the directive of holding one’s tongue applies to the beleaguered mayor and in much the contrary way that it applies to the committee head, Senator Risa Hontiveros.
t he lady mayor is holding her tongue now, refusing even to attend the scheduled hearings at the senate, prompting us to speculate if there ever is someone or something superior to her that could be commanding her to hold her tongue, averting further complication in the already-complicated status. t he lady senator, on the other hand, would not be swayed, as she seems hell-bent on finding out the truth, even if it means that she accelerates the pace of her (and her committee’s) questioning, more words if need be, and tongue unrestrained if necessary. t his leads us to another expedient quote in the Alice book—“Curioser and curioser!” t his finds consonance in Albert einstein’s words, which state, “ t he important thing is not to stop questioning. Curiosity has its own reason for existing….never lose a holy curiosity.” one online writer explains that einstein’s words and Alice-of-the-book’s story reminds us of the importance of curiosity and imagination. Interesting indeed, as our human real-life Alice (the mayor) has not just bothered herself with the ordinary but apparently lives her life exploring the impossible, if
not the dangerous—with allegations of human trafficking, fraud, money laundering, forgery, falsification of public documents, and conspiracy, among others! If proven true, our Alice here must have gone beyond curiosity for her most active mind that explored worlds normally concealed from the more abstruse unimaginative minds like those of the ordinary Juan dela Cruz. now if our government institutions will not succeed with their own “curiosity” in digging out the truth and responding positively with remedial measures, we just might find ourselves in the route of “curiosity killed the cat!” Good thing the lady senator is leading the way, digging deeper, and refusing to lose the “holy curiosity.” ot her government institutions have come to the fore (or are supposed to), contributing what they can in assessing the problem and suggesting a solution. of fices of the PsA nBI, DFA, Comelec, BI, DILG, Local Civil registrar, seC , BIr AMLC are those most affected by the current controversy involving Mayor Alice Leal Guo, or Guo Hua Ping. of late, the Department of Finance (D oF ) and the national economic and Development
Authority (neda) came into the picture as they recommended the permanent ban of PoGos in the country.
Corollary to this, private individuals recently offered a hand to the investigation by proffering a photograph of what appears to be a class picture with her then Grade 1 classmate Guo Hua Ping. Allegedly, then 13-year-old Guo Hua Ping (not “Alice”) was much older than the rest of the class, a Chinese-speaking lad, and knew no Filipino or english conversational words. If this were true, then this would have matched the information reflected in the Chinese passport of Guo Hua Ping, who came to the Philippines as a teenager (probably 13 years old) and was born in China, not in the Philippines. Further, the class photo (subject to verification) would specifically belie Mayor Alice’s statement that she was homeschooled all throughout her basic education years.
t he hullabaloo generated by the Alice-of-our-scrutiny would go down in history as one of the socio-political issues that immensely stirred our curiosities and massively affected our social institutions. It might carry the same timeless effect as Alice of the book in Wonderland if our true-to-life story would have an ending that will help the Filipinos, not only Mayor Alice, oU t of the rabbit hole called quagmire of chaos—a bedlam in late registration of births, in the fraudulent issuance of passports, in the reckless acceptance of certificates of candidacy, and in filtering sizable amounts of money to bank accounts. t he impact goes beyond from human trafficking or validating citizenship requirements for elective posts. t his polemic issue teaches us to look beyond the person (the Alice in not-so-wonderland) as mentioned in the first part of this series. t he situation is past our visual demesne. t his is particularly the work of the enemy (the devil) who goes around like a roaring lion, seeking whom to devour (1 Peter 5:8 of the Bible). It is part of the devil’s job description to distort what is orderly, to confuse our minds, and to sow hatred towards one another. t his enemy desires to earn a masteral degree in generating mayhem over God’s peaceful system
and whatever that is good, and holy, and lovely and righteous. Just as we are divinely instructed in Philippians 4:8 “whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable—if anything is excellent or praiseworthy— think about such things.” t he adversary (the devil) seeks to steal, kill and destroy (John 10:10). noteworthy for us believers is the caution in 2 Corinthians 11:3 which states: “But I (Paul) am afraid that, as the serpent deceived eve by his craftiness, your minds will be led astray from the simplicity and purity of devotion to Christ.” In all of the mess created through and not solely by Alice of Bamban, ta rlac, may we prove ourselves worthy of being called followers of Jesus Christ: taming our tongues in scrutiny, watching our minds in judgment over a person or another country, halting our comments against social entities, careful in pointing fingers at the authorities. Instead, may we look at this entire situation as one we can all use to produce something greater for our nation. May this Alice saga help government to improve systems in birth registrations, passport issuance, or electing a public official, and then believers would have been victorious against what the devil does. In truth, this Alice story is not really about Alice Guo and the others like her. t his story, authored by certain powers and principalities which lurk around us, is about how evil deception can purposely take us away from our Abba Father whose heart’s desire is always to bless us and bring us to the Ultimate and on ly Wonderland of all.
A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.
‘Volt Typhoon’ cyber threat was part of US manipulation drive–Chinese probe report
BeIJING— The so-called “Volt Typhoon” cyber threat narrative is a US campaign of misinformation and public opinion manipulation, according to the latest findings of a Chinese investigation.
Us intelligence agencies have fabricated and hyped up “cyber threat from China” with an intention to push for the authorization of section 702 of the Us Foreign Intelligence surveillance Act, a law that allows warrantless surveillance, and tout more budgets from the Us Congress, according to the findings.
In May 2023, the United st ates and its “Five eyes” allies released an advisory, claiming that a hacker they labeled “ volt ty phoon” had launched espionage activities targeting Us key infrastructures and the organization was endorsed by the Chinese government.
In response, China’s national Computer virus emergency response Center and other technical teams launched a
traceability analysis and issued an investigation report in April.
A new report by the team revealed that “ volt ty phoon” is a typical misinformation maneuvered by Us intelligence agencies and jointly participated in by anti-China Us politicians and cybersecurity authorities of the “Five eyes” countries.
t he plan was initiated at the beginning of 2023 or even earlier, with the aim to further consolidate and strengthen the network penetration capabilities of Us intelligence agencies, particularly by enhancing their ability to attack external targets and deter rivals, as well as their ability to monitor and control the domestic population, according to the report.
t he plan consisted of three phases with clear objectives to push for the reauthorization of section 702. on April 19, the Us senate approved the reauthorization with a vote of 6034. t his reauthorization extends the surveillance authority for two more years, allowing the Us government to continue collecting communications of non-Americans located outside the country without a warrant.
Data revealed that from May 2023 to January 2024, Us government-backed hacking organizations waged over 45 million cyber attacks—all authorized by section 702—against Chinese government entities, academies, scientific research institutes, enterprises and critical infrastructures.
Calling the Us government agencies the mastermind behind the “ volt ty phoon,” the report described such a move as the inevitable product of the international hegemonism that the United
st ates strives to maintain. t he report said similar plans to “ volt ty phoon” will continue to be devised and implemented by the next Usgovernment agencies. Under the control of Us intelligence agencies, American cybersecurity companies will fabricate more false narratives of “foreign governmentsponsored cyberattacks,” continually deceiving Congress into approving more budgets and increasing the debt burden on American taxpayers.
t he report said section 702 poses serious threats not only to Americans, but also to countries around the globe in terms of state sovereignty and individual privacy. It called on governments and people around the world to firmly oppose and resist the Usact of making use of its advantage in cyber-technology to compromise other countries’ sovereignty and the legitimate rights and interests of other peoples. Xinhua
Haven rush, ‘Trump trades’ on investor minds after shooting
By Ruth Carson & Allegra Catelli
Investors will initially favor traditional haven assets and perhaps lean into trades most linked to former President Donald tr ump’s chances of winning the White House after he survived an assassination attempt, according to market watchers. Currencies begin trading at 5 a.m. in sydney when the Us dollar could get a boost, along with other refuges from market volatility like Japan’s beleaguered yen, the sw iss franc and gold. Bitcoin rose above $60,000 in the wake of the attack.
traders will also be watching futures contracts on the s& P 500 index and on the Us treasuries market, both of which start trading at 6 p.m. in new York; Cash trading of Us bonds won’t get going until 7 a.m. in London due to a national holiday in Japan. t h is weekend’s events will likely
cause increased volatility on Monday open both in stock and bond markets,” said Ipek oz kardeskaya, senior analyst at sw issquote Bank. “We expect to see flight to safe havens like sw iss franc and gold. Bitcoin has reacted positively to the news as a result of kneejerk flight to safety.”
Initial market commentary suggested the shooting of tr ump at a saturday rally in Pennsylvania may prompt traders to boost his probability of success in november’s election. His support for looser fiscal policy and higher tariffs are generally viewed as likely to benefit the dollar and weaken treasuries.
ot her assets positively linked to the so-called tr ump trade include the shares of energy firms, private prisons, creditcard companies and health insurers. traders will also closely watch market measures of expected volatility on Monday, such as those on the tariff-sensitive Chinese yuan and Mexican peso, which had begun to price in the Us vote.
should the election become a landslide victory for tr ump, this probably reduces uncertainty, which is positive for risk assets,” said Charles-Henry Monchau, chief investment officer at Banque s Y Z. “Meanwhile, this could lead to more upward pressure on bond yields and a steepening of the yield curve.” tech and renewable-energy stocks could suffer, he added.
Bitcoin may also rise further, given both its appeal to investors seeking a hedge for political turmoil away from conventional financial assets, and tr ump’s pro-crypto stance.
“ t his news marks a changing point in American political norms,” said Kyle rodda, senior financial market analyst at Capital.com, adding that he was seeing client flows into Bitcoin and gold after the shooting. “For markets, it means haven trades but more skewed towards non-traditional havens.”
tr ump said he was shot in the right
ear after gunfire erupted at his rally. His campaign said in a statement that he was “fine” after the incident, which saw him rushed from the stage. An attendee at the rally was shot and killed and two others were in a critical condition.
“Currencies will be the first major market on Monday in Asia to react to the weekend’s shooting. t here’s potential for extra volatility, and getting a clear read may be especially tough because liquidity will be hampered by Japan’s national holiday,” said Bloomberg economist Garfield reynolds, Asia team leader for Markets Live st rategists had already expected a volatile run into the election, not least because Democrats are still agonizing over President Joe Biden’s candidacy after his poor debate performance last month raised questions about his age. Investors had been also grappling with the possibility that the election may end in a protracted dispute or political violence. But there is little precedent for events
like those in Pennsylvania. When President ronald reagan was shot four decades ago, the stock market dipped before closing early. t he next day, March 31, 1981, the s& P 500 rose over 1% and benchmark 10-year treasury yields fell 9 basis points to 13.13 percent, according to data compiled by Bloomberg. “Markets will naturally stand on high alert for any potential copycat repeat attacks,” said neil
With assistance from Greg Ritchie / Bloomberg
Monday, July 15, 2024
DOF: PhilHealth excess fund came from NG subsidies
By Reine Juvierre S. Alberto
& By Jovee Marie N. Dela Cruz
T@joveemarie
HE P89.9 billion in excess funds of the Philippine Health Insurance Corporation (PhilHealth) being c hannelled to unprogrammed funds did not come from member contributions but government subsidies, and will be used to bankroll vital national government projects, according to Finance Secretary Ralph G. Recto. Recto told the BusinessMirror on Sunday the excess funds are intended to finance, among others, the P27-billion unpaid arrears for the Health Emergency Allowance (HEA) of healthcare workers for their service during the Covid-19 pandemic.
The fund will also be redirected to foreign-assisted projects of the national government among others, without increasing the state’s fiscal deficit and borrowings, Recto added. Earlier, the Department of Finance (DOF) issued Circular No. 003-2024 to redirect the excess funds of governmentowned and -controlled corporations (GOCCs), such as PhilHealth, to finance unprogrammed appropriations. However, health advocate and former Department of Health adviser Dr. Anthony Leachon questioned the move, saying
PhilHealth should use it to further expand member benefits.
Unp rogrammed appropriations provide standby authority to incur additional agency obligations for priority programs or projects when revenue collection exceeds targets and when additional grants or foreign funds are generated.
We are following instructions from the Congress, which is found in special provisions of the budget for utilizing unprogrammed funds,” the Finance chief told this newspaper.
Under the special provisions of the unprogrammed appropriations indicated in the 2024 General Appropriations Act (GAA), the amounts a uthorized in the unprogrammed appropriations may be used if the fund balance of the GOCCs from any remainder resulted from the review and reduction of their reserve funds to reasonable levels taking into account the disbursements from prior years.
The provision said that the DOF shall issue the guidelines to implement the provision within 15 days from the effectivity of the GAA.
Fund balances, not reserves THE redirecting of excess funds did not violate the Universal Health Care (UHC) Law or Republic Act No. 11223, since the P30 billion that PhilHealth turned over to the Bureau of the Trea-
sury (BTr) are fund balances and not reserve funds, Recto clarified.
Section 11 of the UHC Law states that “...whenever actual reserves exceed the required ceiling at the end of the fiscal year, the excess of the PhilHealth reserve fund shall be used to increase the Program’s benefits and to decrease the amount of members’ contributions. No portion of th e reserve fund or income thereof shall accrue to the general fund of the national government or to any of its agencies or instrumentalities, including government-owned or controlled corporations.”
“Fund balances did not come from members’ contribution but from government subsidy, which they did not spend,” Recto pointed out.
Apart from PhilHealth, the Philippine Deposit Insurance Corporation (PDIC) also remitted P20 billion in fund balances to the Treasury in May in accordance with the DOF’s circular for unprogrammed appropriations.
Unp rogrammed funds are not automatically allocated and can only be released if the government, through the Treasury, can collect excess revenue or income beyond its initial projection, or should foreign or approved financial loans or grant proceeds be realized.
G overnment agencies are required to submit necessary require -
ments before granted access to the stan dby fund to ensure that spending stays within legal limits.
Violates UHC law?
THE controversy over the PhilHealth funds arose from statements by health reform advocate Dr. Anthony Leachon, who described the move to revert funds to the Treasury as “a terrible lack of foresight and care for Filipino patients.”
L eachon has opposed DOF Circular 003-2024, which mandates th at unutilized PhilHealth funds of P89.9 billion be returned to the unprogrammed appropriations of the national budget.
L eachon claimed the circular goes against the spirit of the Universal Health Care (UHC) Law, or R epublic Act 11223.
He cited Section 11 of the UHC Law, which requires that any excess reserves be used to enhance the program’s benefits or reduce member contributions rather than reverting to the general fund.
“The excess PhilHealth funds that will be returned to the unprogrammed fund of the national budget are revenues from taxes on tobacco, vapes, alcohol, and sugar-sweetened beverages, which are specifically earmarked for health programs,” he added.
“I t is alarming that, despite
having excess funds, PhilHealth has yet to comply with the provisions in Section 11 of RA 11223,” h e noted.
“Excess funds should not be directed to unprogrammed appropriations within the national budget when PhilHealth has been ineffective at carrying out its mandate of ensuring affordable, acceptable, available, and accessible health care services for all citizens of the Philippines,” Leachon said.
Salceda backs DOF move
EARLIER , House Committee on Ways and Means Chairman Joey Sarte Salceda backed the DOF decision to utilize excess funds from PhilHealth to finance unprogrammed appropriations, emphasizing that these are taxpayer dollars being put to more effective use.
Salceda said the General Appropriations Acts (GAAs) have allocated a substantial P162 billion in taxpayerfunded subsidies to PhilHealth.
Salceda noted that if there are still excess funds, it indicates an overallocation of subsidies.
“P hilHealth regularly receives a subsidy from the national government on top of the premiums i t collects from its members. In other words, that’s taxpayer money, not contributor money,” Salceda explained.
AFP hospital ships ‘wise, practical’
By Henry Empeño
FORMER Senator Gregorio
“Gringo” Honasan on Sunday called for the acquisition of military hospital ships under the modernization program of the Armed Forces of the Philippines (AFP), citing the need to boost the government’s disaster-readiness program.
Honasan, who had earlier formed the Reform PH Party and called for the establishment of “paramilitary groups” in areas near the West Philippine Sea, said the hospital ships should be ready to be deployed not only in times of war, but also for disaster relief and humanitarian operations at peacetime.
“Considering that we are an archipelagic nation extremely vulnerable to natural disasters, military hospital ships would be a wise and practical investment,” said Honasan, who once chaired the Senate defense committee. The hospital ships should be capable of swift mobilization and coastal operations. They should be able to receive patients by air and water,” he added in a statement. Honasan, also a Secretary of the Department of Information and Communications Technology (DICT) from July 2019 to October 2022, said that the hospital ships would See “Honasan,” A2
Pimentel, Lacson push ‘designated survivor’ bill early OK in Congress
THESenate Minority leader and a former ranking senator pushed at the weekend for urgent passage of a “designated survivor bill” which had been left pending in the last Congress, but the absence of which could trigger a crisis in a worstcase scenario.
I n his words, Sen. Panfilo Lacson said an attack that wipes out all top leaders under the constitutional line of succession could trigger a “leadership vacuum and a constitutional crisis.”
Minority Leader Koko Pimentel, who authored Senate Bill No. 921 that tackles the rule of succession in the event tragedy strikes the top elected leaders of the country, underscored the importance of his proposed legislation.
Th is, even as he assailed as a “bad joke” the remark by Vice President Sara Duterte last week, when she told reporters she will not attend the State of the Nation Address on July 22, because she had “appointed myself” as the “designated survivor,” in apparent reference to a popular series showing a make-believe scenario of a low-ranked official ending up as president after an attack wiped
out all the top leaders of the land.
W hile scoring VP Duterte’s remarks, Pimentel believes it is critical to ensure a clear line of succession in the event of a disaster that incapacitates the top government officials.
“If both the President and the Vice President are wiped out, it’s the Senate President. If all three are wiped out, it's the Speaker of the House. But if all four are wiped out at the same time, and no one can act as President, there needs to be a law. That’s why I have a proposed law to address that scenario,” Pimentel said.
The Senator expressed hope that his bill would be approved before the 19th Congress ends next year.
P imentel joined the chorus of voices expressing disapproval of Vice President Duterte’s remarks about appointing herself as the “designated survivor.”
“ Sana hindi niya ginawa iyon sa context ng Sona. Sana hindi niya ginamit ’yun na joke. Hindi magandang joke ’yun [She should not have said it in the context of Sona. She should not have used it as a joke. It’s a bad joke],” Pimentel said in an interview with radio station DWIZ on Saturday.
Ping recalls 2007 Batasan blast RELATEDLY, former Sen. Ping Lacson also stressed the urgency for Congress to refile and pass the “Designated Survivor” Bill. I n a statement, Lacson said: “On July 22, the President will deliver the State of the Nation Address (Sona). The Senate President will be there, and so is the Speaker of the House. Including the Vice President, the line of succession stops at the House Speaker. Without passing judgment on the ability of our country’s security forces to do their job well—God forbid—if the 2007 bombing of Batasang Pambansa that killed Basilan Congressman Wahab Akbar and a staffer of Gabriela party-list Rep Luzviminda Ilagan would happen again with the direst of consequences, without an enabling law to comply with Sections 7 and 8, Art VII of the 1987 Constitution, we will have a leadership vacuum and a constitutional crisis.
“ This is exactly the reason why I filed Senate Bill No. 982 in August 2019. I hope it can be refiled and passed by the present Congress.” Butch Fernandez
DA CHIEF: ‘BIGAS 29’ EXTENDED BEYOND LUZON BY AUGUST
AGRICULTURE Secretary Francisco Tiu
Laurel Jr. said the government will expand its cheaper rice program to areas outside Luzon by August.
Laurel said the P29 launch aims to collect comprehensive data on rice supply, consumer demand, and the logistics needed to mount such a program across the country.
This week we’re already up to 13 Kadiwa outlets. By August 1, hopefully we will have 23 stores plus three provincial areas. We will have one in Cebu, maybe Maguindanao,” the DA chief was quoted in the statement as saying.
“ Then as we go along, we will widen the coverage and may even try to lessen [the price] of the P29 rice in Kadiwa stores nationwide, hopefully by the first quarter of next year,” he added.
The DA recently launched its P29 program in 10 Kadiwa centers in Metro Manila and Bulacan wherein P29 per kilo of rice
would be sold to beneficiaries, such as senior citizens, single parents, persons with disabilities (PWDs), and beneficiaries of the government’s 4Ps program every Friday, Saturday, and Sunday from 8 am to 5 pm. The department estimated that full implementation of the P29 program will require approximately 69,000 metric tons (MT) of rice.
This will provide 10 kilos of rice per month at P29 per kilo to the targeted 6.9 million vulnerable households.
It added that the large-scale trial was initially scheduled to run for a month in 10 Kadiwa centers before it is expanded to other areas due to supply and logistics considerations.
The DA said it is also set to launch Ricefor-All program which is meant to provide general consumers access to well-milled and fancy rice at lower prices than those prevailing in public markets.
said global prices should start to go down with the end of El Niño which could ease demand from importing countries and eventually increase global production. He also cited the expected lifting of India’s ban on the export of non-basmati rice as a factor that could ease supply pressures. Laurel expressed confidence that by early next year, when global rice prices are expected to fall, rice sold at Kadiwa centers will also be priced lower.
Meanwhile, the DA chief said that the department has
Editor: Jennifer A. Ng
B1 Monday, July 15, 2024
NGCP optimistic about ERC decision on rate reset–exec
TGlobe: Scammers
are
getting smarter
By Lorenz S. Marasigan @lorenzmarasigan
By Lenie Lectura @llectura
he National Grid Corporation of the Philippines (NGCP) appealed to regulators to allow the company to recover its expenses for big-ticket projects following the energization at full capacity of the P20.94billion Mariveles-hermosa-San Jose Transmission (MhSJ) Line.
NGCP Spokesman Cynthia Alabanza said future grid projects could be affected if regulatory approvals for the projects included in the ongoing resetting of transmission rates are not issued soon.
“We have faith that the ERC [Energy Regulatory Commission] will come (up) with the decision soon and with the reasonable recovery for NGCP’s investments. It’s already delayed,” said Alabanza. She was referring to the ERC’s ongoing rate reset process.
The ERC conducts a rate reset process for its regulated entities such as the NGCP to determine how much of its projected expenditures and proposed projects over a five-year regulatory period
could be passed on to consumers. This process is usually a forwardlooking exercise but since the non-occurrence of the rate-reset for NGCP since the lapse of the third regulatory period 2011-2015, “the current ERC is constrained to evaluate for the fourth regulatory period whether the costs already incurred by NGCP for the previous years were prudent, reasonable, and economically efficient.”
“Our last regulatory was for the period ending 2015 so the 4th regulatory period should have started 2016. We are already in the middle of the 5th regulatory period. The NGCP has waited long enough but we are hopeful that the ERC will issue a fair decision,” added Alabanza.
ERC Chairperson Monalisa Dima-
lanta said NGCP’s fourth regulatory period rate reset filing, covering 2016 to 2020, is still being evaluated.
“There is a delay in the 4RP [fourth regulatory period] but still, hopefully, this month. The 5RP is targeted by fourth quarter,” she said via Viber, adding that some of the costs incurred by the NGCP will “traverse into the 5RP considering the completion of these projects just recently,” which was beyond the 2022 cut-off for 4RP.
Among these big-ticket projects cited by Alabanza include the MHSJ and the Cebu-Negros-Panay (CNP) transmission lines. For the MHSJ project, the NGCP filed for a project cost of P20.94 billion, but the ERC allowed it to recover only P25.78 million from its customers.
For the CNP, the grid operator invested P67.98 billion, but the regulator a recovery cost of only P176 million.
For the two projects, Alabanza said the NGCP only collected P201.78 million as against its investment of P87.7 billion.
During the inauguration and energization of the MHSJ line, NGCP President Anthony Almeda said 59 million households and other power consumers will benefit from the project, which he called “a critical component in ensuring the reliability and
sustainability of our power grid.”
“This critical backbone provides a new high voltage link capable of transmitting a total of 8,000MW of power from power plants in Bataan and Zambales,” Almeda said. “The line is ready to serve and benefit the 59 million households and other power consumers in Luzon,” he added.
Almeda also thanked President Ferdinand Marcos Jr., who was present during the event, for his commitment to improving the nation’s infrastructure, which served as the driving force behind the completion of some NGCP big-ticket projects in the past 12 months.
Among these big-ticket projects were the Mindanao-Visayas Interconnection, the Cebu-Negros-Panay 230kV Interconnection, and today’s full energization of the MarivelesHermosa-San Jose 500kV line.
The President, for his part, highlighted the benefits of the project to grid customers in Luzon.
“Once operational, it will certainly strengthen power transmission services; not only in the region, but all the way to Metro Manila. This transmission project attests to the transformative power of collaboration between the public and the private sectors to be able to attain a stable, reliable, and resilient power supply for the country.”
PGPC aims to boost Luzon power grid
THE Philippine Geothermal Production Company Inc. (PGPC) is embarking on the exploration and development of new geothermal energy sources capable of generating between 250 to 400 megawatts (MW) of additional renewable energy (RE).
The wholly owned subsidiary of SM Investments Corp. (SMIC) said over the weekend that these geothermal power projects are expected to be completed in 5 to 7 years. PGPC’s five new project concession sites are in geothermal-rich areas within the Provinces of Kalinga, Benguet, Cagayan, Quezon, Camarines Norte, and Camarines Sur.
Tycoons warn public of scams
CAMILLE V I LLAR , daughter of billionaire Manuel B. Villar Jr., and Lance Gokongwei of JG Summit Holdings Inc., warned the public about unscrupulous groups using their names in their illegal activities.
Villar, president and CEO of AllValue Holdings Corp., said several persons or entities are using her name in enticing people to investment in foreign exchange or bitcoin trading.
“They are claiming that I am offering business opportunities or investments. Please be aware that these claims are false and are intended to scam the public,” she said.
“If you have received such messages, please report them to the authorities immediately. Any legitimate business opportunities or announcements from me will be posted on our official social media accounts.”
Meanwhile, Gokongwei said his face is being used to encourage the public to invest in cryptocurrency projects, such as the so-called “Momentum Capital” program. VG Cabuag
These projects, it added, aim to establish fully operational geothermal fields capable of generating between 250 to 400MW of additional renewable baseload power from which energy can be readily dispatched to power plants and other prospective off-takers. This will help bolster power security for Luzon and advance the country’s renewable energy objectives, according to the company.
“With these projects slated for completion within the next 5 to 7 years, they will be sources of additional renewable baseload power that will help reduce the risk of power supply shortages in the Luzon power
grid,” said PGPC President Napoleon L. Saporsantos Jr.
“They will also play a pivotal role in the Department of Energy’s target of having renewable energy sources account for at least 50 percent of the country’s total power capacity by 2040.”
Saporsantos also highlighted the socioeconomic benefits of the projects, stating, “these projects from the exploration and development phase all the way up to commercial operation are expected to create over 2,000 jobs, with priority given to hiring qualified local residents in our host communities.”
PGPC pioneered Southeast Asia’s
first commercial geothermal power project in 1971. The company currently operates the Tiwi steam field in Albay and the Mak-Ban steam field spanning Laguna and Batangas. These facilities have been pivotal in supplying renewable geothermal energy to client power plants since 1979.
Last year, PGPC said it will spend some P3 billion annually for new exploration projects in Kalinga, Daklan, and Cagayan in Northern Luzon, and in Mount Labo and Malinao in Southern Luzon.
The SM Group, through SMIC, acquired PGPC for P26.6 billion. Lenie Lectura
VinFast to delay opening of US factory
VIN FA ST Auto Ltd. said it will delay the opening of its electric vehicle factory in North Carolina by three years to 2028, adding to the Vietnamese company’s challenges of becoming a global brand.
The decision will allow it to manage short-term spending “more effectively” and focus resources on nearterm growth targets, the automaker said in a statement. It also lowered its full-year sales target to 80,000 units from 100,000 previously.
“We have adopted a more prudent outlook that is carefully calibrated to near-term headwinds, taking into full consideration the realities of market volatility and potential challenges,” VinFast Chairwoman Le Thi Thu Thuy said in the statement.
Delaying the North Carolina plant underscores the difficulties the little-known EV maker faces as it tries to crack the global EV market whose outlook has deteriorated in the past year.
In its annual Electric Vehicle Outlook, BloombergNEF reduced its battery-electric sales projections by
6.7 million vehicles through 2026. Several of the world’s largest manufacturers including Ford Motor Co., General Motors Co., Volkswagen AG and even Tesla Inc. have dialed back ambitions in recent months.
And after a spectacular United States market debut in August, when VinFast’s stock soared more than 700 percent in just two weeks, shares of the unprofitable company have plunged more than 90 percent from their peak.
VinFast will focus on “near-term opportunities in a more selective group of potential markets, allowing for optimal capital and resource management, and minimizing risks more effectively,” it said. The factory timeline change comes weeks after VinFast’s billionaire founder and Chief Executive Officer Pham Nhat Vuong said in an interview with Bloomberg TV that he was willing to bet all his money on the company’s growth.
GLOBE Telecom Inc. recorded a “significant decline” in blocked spam SMS messages in the second quarter of 2024, as fraudsters shifted tactics.
According to Globe Chief Information Security Officer and Chief AI Officer Anton Bonifacio, scammers turned to other mechanisms, using channels that bypass anti-fraud measures.
He said Globe came to this conclusion as it recorded a 79-percent decline in intercepted spam messages, totaling to 236 million in the second quarter from 1.1 billion blocked messages the year prior.
This decline continues a downward trend in blocked spam SMS messages throughout 2024, with a 35 percent decrease from 362,773,894 messages blocked in the first quarter to the second quarter.
Supporting this trend, the number of deactivated SIMs reported via Globe’s Stop Scam Portal fell to 504 from 4,054 in the same period last year, marking an 88 percent annual decrease. Between the first and second quarters of 2024, there was a 40-percent drop, with 841 deactivated numbers recorded in the first three months.
Similarly, the total blacklisted numbers from competitor networks also declined from 31,078 in the second quarter of 2023 to 11,026 in the second quarter of 2024, indicating a 65 percent reduction year-on-year, and a 70 percent decrease from this year’s first-quarter total of 36,549.
“We have observed a consistent decline in spam SMS—those that pass through the cellular network—as we continue to implement stringent filtering systems, including blocking person-toperson SMS with links,” he said.
Bonifacio said there is an in-
creasing threat posed by spoofed SMS, a method that bypasses telecom networks’ spam filters. Spoofing involves impersonating SMS channels to lure victims into sharing personal information or clicking on malicious links, potentially leading to financial losses or compromised data security. Spoofed SMS messages use International Mobile Subscriber Identity (IMSI) catchers or fake cell towers, intercepting mobile communications without passing through the cellular network. Fraudsters are also shifting to over-the-top media services or chat apps, Rich Communication Services (RCS) chats for Android users, and other Internet-based messaging platforms to send messages using foreign numbers or email addresses, further evading cellular network filters.
“As we tighten our defenses against spam SMS, we are also aware that scammers are continuously evolving their methods. Globe is committed to staying ahead of these threats by enhancing our security protocols across all channels. Our goal is to protect our customers from fraud, ensuring their trust in our services remains unshaken,” said Bonifacio. To combat these evolving threats, he said Globe is deploying advanced network probes to detect and neutralize IMSI catchers and fake base stations.
The company also continues to proactively block SMS with links and invest in state-of-the-art technologies and strategic partnerships to ensure robust protection against emerging threats.
DOE begins another round of bidding for microgrid contracts
THE Department of Energy
(DOE) has commenced the second bidding for the development of microgrid systems in the country.
“In its continuing commitment to enhance the quality of life in the remaining unserved and underserved areas in the country, the Department of Energy is pleased to announce the conduct of the 2nd round of Competitive Selection Process [CSP] for Microgrid System Provider (MGSP) for the electrification of 41 lots composed initially of 75 identified unserved and underserved areas of the country,” it said over the weekend.
Under Republic Act 11646, or the Microgrid Systems Act of 2022, the DOE is required to conduct a CSP for potential concessionaires seeking to serve off-grid areas. It also provides a 90-day timeline to complete the conduct of CSP from the pre-qualification until the submission of the awarded contract to the Energy Regulatory Commission.
The DOE said the MGSP proponents would be given enough time to survey the areas and prepare their proposals. Their submission
of Expression of Interest should be turned in by end-August while the submission and opening of technical and financial bid proposals would take place in the fourth week of September. The winning bidders would be notified within the first week of December.
The 75 identified areas covering a total of 12,212 households were part of the 98 identified areas clustered into 49 lots previously offered during the first round of the MGSP-CSP in November 2023. Some of these areas in the second round received no proposals during the first round.
The DOE assured that all areas offered in the second round are viable for MGSP given their higher demand. The 2023-2032 National Total Electrification Roadmap has identified 407 areas, of which 285 are unserved comprising of 20,103 households while 122 are underserved with a total of around 20,207 households. These far-flung or remote areas have the presence of economic activities that require the much-needed electricity services. Lenie Lectura
VinFast electric vehicles bound for shipment at a port in Haiphong, Vietnam. BloomBerg
Photo from www.gloBe.com.Ph
Banking&Finance
BSP seen slashing rates beginning
third quarter
THE Bangko Sentral ng Pilipinas (BSP) is seen to lower interest rates more than previously forecasted and might start cutting rates in the third quarter of 2024, according to research analysts at Nomura International (Hong Kong) Ltd.
The analysts cited that a Modified Taylor Rule (MTR)—a financial model used to estimate where interest rates in Asia should be given their growth-inflation outlooks— suggested more policy easing in the Philippines.
Nomura initially projected the BSP to start its cutting cycle only in October with 150 basis points (bps) of cumulative cuts by the second quarter of 2025.
A policy rate of 5.25 percent by end-2024 in the Philippines is forecasted by the MTR while Nomura predicts 6 percent. By the end-2025, the MTR projects policy rate would settle at 4 percent compared to Nomura’s 5 percent.
Policy rates would only be in “restrictive territory” as the expected lowering of rice prices will pull inflation below the midpoint of the government’s 2 to 4 percent inflation target range, the MTR suggested.
“The MTR suggests policy easing
should begin in Q3 [third quarter] 2024, with 250 bps of cumulative cuts to a terminal rate of 4.00 percent by Q2 [second quarter] 2025,” the analysts said in a research paper.
BSP Governor Eli M. Remolona Jr. earlier assured that the Monetary Board is on track to reduce policy rates in August as it may lead to output losses for the Philippine economy. (See: https://businessmirror.com.ph/2024/07/09/ further-delays-in-easing-maycause-output-losses/).
“We [can] not wait too long for easing because the longer we wait for easing, the more likely it is that we will cause a loss of output—which we don’t want. So that’s basically where we stand. We’re not going to raise,” Remolona said.
Remolona said should inflation stay within the 3 to 4 percent target in July, as this bodes well for the BSP’s plan to cut rates by August. However, he does not see this leading to larger rate cuts.
Moreover, Thailand is also seen for potential larger-than-expected rate cuts along with the Philippines, with policy rates around 50 bps above where they should be, as suggested by the MTR. Reine Juvierre Alberto
ISSUES such as procurement that hound public agencies, government financial institutions (GFIs) and state-run corporations, heighten risks of underspending, according to Budget Secretary Amenah F. Pangandaman.
Mayroong [risk] pa rin ng underspending because I think may issues pa rin sila maybe on procurement [There is still a risk of underspending because I think they have issues maybe on procurement],” Pangandaman told reporters last week.
first quarter of the year. The utilization rate must be 25 percent on average for it to be considered as budget underspending, she added.
Mas masaya kami na [We are happier that] agencies are now spending their budget,” Pangandaman said.
Based on the DBM’s latest report on NCA utilization, only the Commission on Human Rights (CHR) utilized 100 percent of its cash allocation while the Commission on Elections (Comelec) posted the lowest utilization rate at 46 percent as of end-May.
diture Program (NEP) will be issued, Pangandaman said agencies can conduct early procurement so that by January, they can already issue a Notice of Award.
The Department of Budget and Management (DBM) has allocated P1.712 trillion to line departments, government-owned and -controlled corporations (GOCCs) and local government units (LGUs) as of end-May 2024. Government agencies utilized 93.895 percent, or P1.777 trillion, of the P1.892-trillion notice of cash allocations (NCAs) released by the DBM in the first five months of the year.
AS technology, media and telecommunications (TMT) companies continue to innovate and expand, they are increasingly exposed to cyber threats and complex global regulatory requirements. Addressing these expanded cyber risks and complying with an ever-increasing spectrum of regulations is becoming a pressing challenge.
With the deeper integration of data and technology, cybersecurity and data privacy are increasingly being embedded within the core business functions. While Chief Information Security Officers (CISOs) play a vital role, the entire leadership team needs to embrace cyber and data privacy as a top priority. The focus should not be solely on responding to threats, but on proactively ensuring cybersecurity and data privacy are embedded across the organization.
To juggle the swift pace of technological innovation and transformation, TMT organizations are increasingly relying on partnerships. However, ensuring a trusted and secure supply chain across these evolving partnerships presents unique challenges. Moreover, managing rapidly evolving digital identities within a hyperconnected environment and navigating the need for humans and machines to coexist has become a major consideration.
Consideration 1: Embed cyber and privacy for good DIGITAL has transformed business processes, leading TMT organizations to transition from centralized cybersecurity operating models to deeply embedding cyber across all functions.
As businesses continue to adopt technologies beyond cloud-based services, new security risks are emerging that require effective resource deployment and the application of AI. Cultivating a sustainable security culture that prioritizes continuous threat monitoring, clear communication, trust-building and balancing technical and soft skills is vital.
Amid the rapid evolution of business models and compliance complexities, TMT organizations remain a dynamic target for cyber threats. Embracing the “secure by design” principle across all business functions helps integrate security smoothly across the operational spectrum.
Consideration 2: Modernize supply chain security
AS organizations in the TMT sector face an increasingly complex and interdependent supply chain ecosystem, they are more exposed to new cyber threats.
In response, businesses are urged to establish strategic supplier partnerships focused on continuously monitoring and
managing the evolving risk profiles of these entities to enhance operational resilience. The rapid pace of technological advancement and the deployment of AI augments and complicates this landscape, presenting new opportunities and potential risks. Global standards and regulatory bodies are stepping in to ensure the supply chain ecosystem is adequately focused from a cyberrisk perspective and that proper security controls are deployed.
With increased instances of supply chain disruptions, TMT enterprises investing in comprehensive risk management need a clear, continuous view of an ever-expanding third-party ecosystem. With today’s complex global dynamics, evolving toward a cybersecurity posture encompassing businesses and the vendor ecosystem is crucial.
Consideration 3: Make identity individual, not institutional DIGITAL identity has emerged as a key factor for efficient digital interactions in the connected world. With smart devices tethered to organizations’ digital backbone, managing their identities is imperative.
Customer digital identity is another increasing area of focus, with consumers accessing digital platforms daily. This has made a reliable and trusted federated identity model particularly important.
In this environment, the security challenges of establishing digital identity are growing with the rise of deepfake technologies. Cybercriminals are using this tactic to target corporations, institutions and sovereigns, many of which are unprepared to defend against this threat.
As TMT organizations take the lead in implementing emerging technologies, they must also be aware of the accompanying risks, including the potential for misuse.
A reimagined approach to identity and access management, encompassing employees, ecosystem providers, connected devices and consumers, is a strong move toward ensuring and upholding a resilient security posture.
This excerpt was taken from the KPMG Thought Leadership publication: https://kpmg.com/xx/en/home/insights/2024/05/cybersecurity-considerations-2024-technology-media-and-telecommunications.html.
Pangandaman said government agencies posted an average of 45-percent budget utilization rate in the
In the first quarter of the year, 19 line departments recorded a 100-percent utilization rate, while budgetary support to GOCCs and LGUs was also fully utilized.
Pangandaman expects the New Government Procurement law (Republic Act 9184) will help address budget underspending of government agencies as this mandates early procurement for projects and programs. By the time the National Expen-
President Ferdinand R. Marcos Jr. has approved the P6.352trillion proposed NEP for 2025. (See: https://businessmirror.com. ph/2024/07/03/palace-clears-p635-trillion-proposed-national-expenditures-plan-for-2025/). The approved amount is 10.1-percent higher than the P5.768 trillion budget for 2024 under the fiscal year 2024 General Appropriations Act (GAA). The lion’s share will be allocated to initiatives that will enhance the capability of the country’s students and labor force.
Pangandaman said that aside from ordering agencies to submit their catch-up plans, the DBM also sends out letters quarterly to agencies to identify their big-ticket items and remind them of their budget utilization rate.
Debts risk fiscal sustainability–Oxford Economics
DESPITE advanced economies’ sustainable debt trajectory, the rising debt servicing costs, social and defense spending and climate-related greening investments pose risks to fiscal sustainability, according to the Oxford Economics Group Ltd.
A commentary by the economic advisory firm read that the debt of advanced economies is “mostly on a sustainable path,” with European countries’ ability to cut government debt levels without significant fiscal consolidation.
The United States government’s debt-toGDP ratio, however, is projected to remain on a firm upward path unless significant policy changes are adopted, the think tank added.
Moreover, debt servicing costs are seen to rise further in Japan, although it has stabilized in most advanced economies, as a consequence of its elevated public debt.
“Still, thanks to the relatively long maturity of government debt across AEs (eight years on average), the rise is not as damaging as might be expected, and with inflation under better control and markets widely expecting a retreat in government bond yields, this source of risk to debt sustainability is
THE world’s biggest bond market is reaching a turning point, with US Treasuries wiping out their 2024 losses as traders start to embrace the idea of three interest-rate cuts this year.
Optimism tied to an ebb in inflation was on full display this week in US government debt, with yields across the curve slumping as the data was seen supporting the case for lower borrowing costs as soon as September. Two-year Treasury yields—more sensitive than longer maturities to Federal Reserve monetary policy—are down 15 basis points this week to 4.45 percent, the lowest since March.
“All signs point to the Fed starting rate cuts in September,” said Sinead Colton Grant, chief investment officer at BNY Wealth. “You are seeing a market participant reaction to CPI on the back of a softer June labor market report” and Fed Chair Jerome Powell’s recent testimony to US lawmakers.
Powell told lawmakers this week that officials are increasingly wary of potential risks to the labor market, while waiting for more evidence of inflation slowdown. On Thursday, data showed that the consumer price index increased in June at the slowed pace in three years and fueled a rally in the bond market.
While figures released on Friday showed US producer prices climbed in June slightly more than forecast, market participants focused more on a drop in consumer sentiment. Yields were broadly lower Friday. The rally this week has helped the
unlikely to pose a severe threat,” Oxford Economics said.
Despite inflation remaining above prepandemic levels, the think tank said locking government bond yields at higher levels for longer would still contribute to economic growth and government revenues.
“At any rate, policy rates are now almost certainly at or past their peak, so this problem should start to subside soon,” it added.
In terms of defense spending, Oxford Economics said that geopolitical risks might endanger debt sustainability by hindering growth but defense spending is a relatively low-budget item to cause disruptions.
Meanwhile, social spending is a large budget item in the general government budget, exceeding 25 percent of GDP in France and above 12 percent of GDP in the US but lowest among advanced economies.
“Any additional rise could put public debt on a less viable path,” the think tank warned.
Debt sustainability could be triggered by increased government outlays caused by populist policies, such as lower immigration or lowering the retirement age.
“Social spending increases are typically
Bloomberg US Treasury Index to climb 0.3 percent this year, as of Thursday’s close, erasing a year-to-date loss of as much as 3.4 percent in April.
“Clearly a lot of people missed the yield highs at 4.75 percent, and there is a bit more FOMO—but also more conviction that the cycle is moving in the direction of lower yields,” said John Madziyire, senior portfolio manager at Vanguard. “Now that the Fed is in play, you want to extend longer out the curve.”
Interest-rate swaps showed traders have all but fully priced in a quarterpoint rate cut by the September meeting and are targeting more than two reductions this year. On Friday, Barclays economists tweaked their forecast for Fed policy, predicting a second interest-rate cut in December in addition to the one they were already expecting in September.
Some have begun to contemplate the potential for a half-percentage-point cut in September, buying October federal funds futures contracts in large size at prices that only make sense if more people buy into the idea that the Fed could begin its first easing cycle in years with a supersized move.
Traders are now looking ahead to readings of the Fed’s preferred measure of underlying inflation—the so-called personal consumption expenditures price index—and more information on the job market.
“Generally, we think rates will continue moving lower into easing,” said Molly McGown, a rate strategist at TD Securities. Bloomberg News
Aviewed as permanent, rather than commitments to temporarily increase spending. So these welfare measures could prove politically tougher to reverse and may be bigger cause for concern,” it added.
Moreover, government spending on climate change-related programs, also called climate finance, amounted to $100 billion invested directly from general government budgets in 2021 to 2022.
However, Oxford Economics said this is only a small portion of government spending.
“As much as climate risks remain both large and difficult to quantify, direct risks for advanced economies’ fiscal positions and debt sustainability remain low,” it said.
The think tank concluded that debt sustainability among advanced economies in the medium term remains sensitive to social spending while it is unlikely for defense spending and climate change investments.
“It will be prudent to pay special attention to policy plans related to social spending, especially where populism is likely to be costly. Currently, however, we don’t see any imminent threat on that front,” it added.
Reine Juvierre Alberto
By Roderick Abad @rodrik_28 Contributor
REGISTERED Operator of Payment System (OPS) believes the credit gap in the Philippines is “big.”
“We realized there’s a big credit gap here, where a lot of customers are still underserved. They don’t have access to credit,” Tala Financing Philippines Inc. General Manager Moritz Gastl told reporters last week.
Gastl pointed to a Bangko Sentral ng Pilipinas’s (BSP) survey in 2021 that showed only two percent of Filipino respondents were able to correctly answer all six basic financial literacy questions.
“I cannot emphasize enough the importance of financial literacy and education in achieving your goals and unlocking your full potential. Whether it’s to start your own business, support the needs of your family or achieve financial stability, awareness of basic finance and budgeting concepts is key to managing your finances better,” he said.
Hence, Gastl said, the BSP-registered OPS continues to organize events called “TALAkayan” to help.
“We’re here to help, especially the underbanked and underserved sectors.”
According to him, the firm has so far reached close to 10 million customers worldwide, of which three million are from the Philippines.
“We’re very happy with the progress in the Philippines [in terms] of how many loans we’ve obviously issue [and] with how many customers that we have. But there’s still a lot more for us to do because the reality is like we estimate that currently, there is still about 40 [million] to 50 million Filipinos that are underserved at the moment, especially when it comes to credit. So it’s still a big, big, big opportunity for us to reach more customers,” Gastl said. “Through workshops such as ‘TALAkayan,’ we’re able to introduce the brand to more potential customers in a way that benefits them through financial education,” an executive of the lending firm added.
POLITICAL PERILS:
The legacy of assassination attempts on US Presidents
By Darlene Superville & Christina A. Cassidy
The Associated Press
Before Saturday’s apparent attempted assassination of former President Donald Trump, there have been multiple instances of political violence targeting US presidents, former presidents and major party presidential candidates.
A look at some of the assassinations and attempted assassinations that have occurred since the nation’s founding in 1776:
ABRAHAM LINCOLN, the 16th president
Linco L n was the first president to be assassinated, shot by John Wilkes Booth on April 14, 1865, as he and his wife, Mary Todd Lincoln, attended a special performance of the comedy “o u r American c ousin” at Ford’s Theatre in Washington.
Lincoln was taken to a house across the street from the theater for medical treatment after he was shot in the back of the head. He died the next morning. His support for Black rights has been cited as a motive behind his killing.
Two years before the assassination, during the c i vil War, which was fought over slavery, Lincoln issued the Emancipation Proclamation granting freedom to slaves within the c onfederacy.
Lincoln was succeeded by Vice President Andrew Johnson.
Booth was shot and killed on April 26, 1865, after he was found hiding in a barn near Bowling Green, Virginia.
JAMES GARFIELD, the 20th president
G A r F i EL d w as the second president to be assassinated, six months after taking office. He was walking through a train station in Washington on July 2, 1881, to catch a train to n ew England when he was shot by c h arles Guiteau.
Alexander Graham Bell, the telephone inventor, tried unsuccessfully to find the bullet lodged in Garfield’s chest using a device he designed specifically for the president. The mortally wounded president lay at the White House for several weeks but died in September after he was taken to the n ew Jersey shore. He had held office for six months. Garfield was succeeded by Vice President c h ester Arthur. Guiteau was found guilty and executed in June 1882.
WILLIAM McKINLEY, the 25th president
McKin LE y w as shot after giving a speech in Buffalo, n ew yo rk, on Sept. 6, 1901. He was shaking hands with people passing through a receiving line when a man fired two shots into his chest at point-blank range. d o ctors had expected McKinley to recover but gangrene then set in around the bullet wounds.
McKinley died on September 14, 1901, six months after opening his second term. He was succeeded by Vice President Theodore r o osevelt.
Leon F. c z olgosz, an unemployed, 28-year-old d e troit resident, admitted to the shooting. c z olgosz was found guilty at trial and put to death in the electric chair on o c tober 29, 1901.
FRANKLIN D. ROOSEVELT, the 32nd president ro o SEVELT at the time the president-elect,
had just given a speech in Miami from the back of an open car when gunshots rang out.
r o osevelt was not injured in the February 1933 shooting that killed c h icago Mayor Anton c e rmak.
Guiseppe Zangara was convicted in the shooting and sentenced to death.
HARRY S. TRUMAN, the 33rd president Tru M A n w as staying at Blair House, across the street from the White House, in n o vember 1950 when two gunmen broke in. Truman was not injured, but a White House policeman and one of the assailants were killed in an exchange of gunfire. Two other White House policemen were wounded. o s car c a llazo was arrested and sentenced to death. i n 1952, Truman commuted the sentence to life in prison. He was released from prison in 1979 by President Jimmy c a rter.
JOHN F. KENNEDY, the 35th president K E n n E dy w as fatally shot by a hidden assassin armed with a highpowered rifle as he visited d a llas
B. Johnson, who was sworn into office in a conference room aboard Air Force o n e. He is the only president to take the oath of office on an airplane. Hours after the assassination, police arrested Lee Harvey o s wald after finding a sniper’s perch in a nearby building, the Texas School Book d epository. Two days later, o s wald was being taken from police headquarters to
the county jail when d a llas nightclub owner Jack r u by rushed forward and fatally shot o s wald.
GERALD FORD, the 38th president Ford faced two assassination attempts within weeks in 1975 and was not hurt in either incident.
i n t he first attempt, Ford was on his way to a meeting with c a lifornia’s governor in Sacramento when c h arles Manson disciple Lynette “Squeaky” Fromme pushed through a crowd on the street, drew a semiautomatic pistol and pointed it at Ford. The gun wasn’t fired.
Fromme was sentenced to prison and released in 2009. it w as 17 days later when another woman, Sara Jane Moore, confronted Ford outside a hotel in San Francisco. Moore fired one shot and missed. A bystander grabbed her arm as a second shot was attempted.
Moore was sent to prison and released in 2007.
RONALD REAGAN, the 40th president rEAGA n w as leaving a speech in Washington, d c ., a nd walking to his motorcade when he was shot by John Hinckley Jr., who was in the crowd.
r e agan recovered from the March 1981 shooting. Three other people were shot, including his press secretary, James Brady, who was partially paralyzed as a result. Hinckley was arrested and confined to a mental hospital after a jury found him not guilty by reason of insanity in shooting r e agan. i n 2022, Hinckley was freed from court oversight after a judge determined he was “no longer a danger to himself or others.”
GEORGE W. BUSH, the 43rd president
Bu S H w as attending a rally in Tbilisi in 2005 with Georgian President Mikhail Saakashvili when a hand grenade was thrown toward him.
THEODORE ROOSEVELT, presidential candidate T HE f ormer president was shot in Milwaukee in 1912 while campaigning to return to the White House. r o osevelt had previously served two terms as president and was running again as a third-party candidate. Folded papers and a metal glasses case in r o osevelt’s pocket apparently blunted the bullet’s impact and he was not seriously hurt. John Schrank was arrested and spent the remainder of his life in mental hospitals.
ROBERT F. KENNEDY, presidential candidate K E n n E dy w as seeking the d e mocratic presidential nomination when he was killed at a Los Angeles hotel—moments after giving his victory speech for winning the 1968 c a lifornia primary.
Kennedy was a u S s enator from n ew yo rk and the brother of President John F. Kennedy, who was assassinated five years earlier. Five other people were wounded in the shooting. Sirhan Sirhan was convicted of first-degree murder and sentenced to death. That was commuted to life in prison, where Sirhan remains after his latest petition for release was denied last year.
GEORGE C. WALLACE, presidential candidate WALLAc E w as seeking the d e mocratic presidential nomination when he was shot during a campaign stop in Maryland in 1972, an incident that left him paralyzed from the waist down. Wallace, the governor of Alabama, was known for his segregationist views, which he later renounced. Arthur Bremer was convicted in the shooting and sentenced to prison. He was released in 2007.
Both men were behind a bulletproof barrier when the grenade, wrapped in cloth, landed about 100 feet away. The grenade did not explode, and no one was hurt. Vladimir Arutyunian was convicted and sentenced to life in prison.
right, Nellie Connally, second from left, and her husband, Texas Gov. John Connally, far left. AP/Jim Altgens
Tonichi Nocom: Tribute to a Pinoy menswear pioneer
THE local fashion scene was shaken to its core when news spread like wildfire of the passing of Anthony “Tonichi” Nocom Jr. Just stunned. Tonichi, indeed, is dearly beloved.
The former president of the Fashion and Design Council of the Philippines, who died of cardiac arrest, was 64. Still in disbelief, his closest and dearest gathered on July 8 at the Capilla del Señor, McKinley Avenue, Forbes Park in Makati to celebrate Tonichi’s legacy:
JACKIE AQUINO
“I WANT to begin by saying that Tonichi would have loved tonight, kasi box office the attendance. Tonight, you will hear from his colleagues, peers, friends who he was close to during his lifetime, then our friend who he truly loved. Finally, from a cousin and a niece he adored.
“I am here representing, first, the college sisters and to introduce and remember how we...how we all met. It was 1978 and at the South Gate of DLSU, I was introduced to this statuesque man by another batchmate, Michael, and off we went to the grade school canteen where he met the college sisters and, thus, our lifelong friendship began.
“We adopted him to be an honorary schoolmate and member of the LBJ Society of De La Salle University, the school we all refer to as...Assumption Taft. Shortly after that, I introduced him to Katrina, when she hosted a party in her home and I vividly remember Tonichi wearing canary yellow pants and a neon blue shirt.
“That was the beginning of another ‘forever’ group, with the name given by the boys in UP...The Silverado Kids...as Randy Ortiz would always say, our sisters of the highest race. We were named after Katrina’s Silverado, as that was our official school bus.
“Fondly, we had fun trekking to UP from Assumption Taft to visit Katrina and, of course, to see the boys. His house was where we all used to meet before going to Where Else in the last century...and in this century, we fondly call his home Tonichi’s event place...where we had our reunions, may it be with the sisters or the fashion set. It is where the same old jokes became new again. Laughter was always the appetizer, the main course, dessert and take home, and I know Tonichi would want that, too, tonight.
“His untimely passing is still what most of us can’t seem to accept. There is so much more to say but I know we are all full of memories to treasure in this lifetime and the ever after. I want to end with a personal thank you and I am very grateful I can do it publicly. Tonichi was the one who encouraged me to be a fashion show director and he gave me my first show in 1984.
“Collectively we say thank you...Tonichi ...for your generosity, thoughtfulness, kindness, your love for friendship and the laughter. We know you are now up there with Audie, Louie, Jake, Chito and Marie. At sabi ni Marlon since si Jake ang nag-handa...Ang ulam niyo tonight ay spaghetti...with rice...You are now in Heavenly Peace!”
VIC BARBA
“ACCORDING to most studies, people’s No. 1 fear is public speaking. Number two is death.
“Good evening. My name is Vic Barba and I am one of Tonichi’s younger sisters in fashion. Two Saturday nights ago, I was on one of my trips. I opened my phone and I was in disbelief with the messages I got. How could this have
TOOTS TOLENTINO
“SELFLESSNESS—we will always remember our proverbial line to the barkada: ‘I’m so happy for you, sister.’
“Selfless is Tonichi’s brand of friendship. Always ready to help. A few examples. Can you imagine? Sending me different sizes of zip lock plastic bags for my essentials when we were moving to a new address.... picture frames with photos of
I THINK that Korean beauty products work best on Koreans because of their weather and the food they eat. I also think that most brands cater to younger skin. They’re not really for me. Once in a while, a Korean beauty brand will change my mind and one of those is Round Lab. Famous for its Birch Juice Sunscreen, Round Lab recently launched in the Philippines and announced its exclusive availability at Watsons. The Round Lab Birch Juice Sunscreen is viral on TikTok and other social media platforms and while it is a great sunscreen that feels like a moisturizer, I would say my favorite product from the brand is the 1025 Dokdo Toner. This toner has been a consistent favorite in Olive Young, ranking No. 1 in
2020, 2021, and 2023. It has a hypoallergenic formula that is ideal for daily use. It has a watery texture and doesn’t leave a sticky residue behind. This toner has skin-plumping glycerin, mineral-rich seawater and sugarcane extract.
Round Lab’s products contain natural ingredients from the Korean Peninsula, “where the sea, wind and mountains meet.”
Round Lab’s Pine Cica product line comes from Yangyang, which is “known for its scenic beauty, harmonizing mountains, seas, and rivers.” The Pine Cica line has calming properties and soothing effects, with products that include cleansers, ampoules, creams and masks.
The Dokdo line does not just include the famous toner but also a cleansing oil, balm, gel, bubble foam, pads, ampoule, lotion, creams, gel masks, sunscreen, eye cream, and even mud packs and peeling gel. All these products are perfect for those with sensitive skin and made with materials sourced from “the pristine waters of Ulleungdo and Dokdo island at the farthest eastern end of the Korean Peninsula.”
The world-famous Birch Juice Moisturizing Sunscreen with SPF50+ is Korea’s No. 1 sunscreen, having received multiple No. 1 awards from Hwahae, Glowpick, and Olive Young. The sap from Inje’s Silver Birch Trees, infused with cool and fresh energy from the refreshing breeze, combined with Vita Hyaluronic Acid, provides deep hydration for dewy and healthy skin. The Birch Juice line includes cleansers,
LYLE IBAÑEZ
TIMELESS is the word to describe his works. We both enjoy going fabric-sourcing for nice unusual fabrics may it be in shopping malls or Divisoria, in Hong Kong or even Taytay
“He would buy tons of fabrics and just stock it up, every time I will ask him ‘San mo gagamitin ‘yan? Ang dami mo nang tela?’ He would answer back, ‘Malay mo, mag-show ako.’
toners, moisturizers, ampoules, lotions, and sunscreens in creams, sticks and cushions.
The Mugwort line has extract of Sea Breeze Artemisia and Madecassoside from mugwort grown on Geomundo Island. The line consists of a cleanser, toner, serum, mask, and soothing gels to help calm irritated skin.
From Jeongseon comes the extract of homegrown black soybeans and a ceramide ingredient that provides deep nourishment to the skin. Round Lab’s Soybean product line includes a cleansing oil, nourishing toner, serum, cream, and mask.
Round Lab CEO Lee YoungHak and other officials, including overseas team leader Baek InSung, overseas manager for Asian market Kim DongHyun, marketing manager Jo EunWhan, and overseas manager Rhee SooMin, were present during the Round Lab launch at Balmori Tent in Powerplant Mall. Also present were officials from Watsons. Round Lab, which is exclusively available at Watsons, SM Beauty, and LOOK At Me stores nationwide, is distributed by Descorp.
ANESSA NOW HAS A NIGHT SERUM
I LOVE Anessa sunscreens and was so happy to learn that they now have a Night Sun Care Serum, which claims to moisturize, brighten and repair any skin damage from UV exposure while you sleep. The brand very kindly sent me
“And then it happened. He staged his first womenswear collection in his own residence, a breakthrough show which featured three of the top fashion directors: Ariel Lozada, Cata Figueroa and Joey Espino. Style direction by the great Henri Calayag with hair and makeup guru Eric Maningat.
Toots Tolentino helped with the publicity and hosted by the fabulous Raymond Villanueva. And it was even featured in CNN Philippines.
“I remember him calling me with so much excitement when he got hold of Cesar Gaupo’s extensive archives, a delight to every fashionista especially me who adores and looks up to one of Manila’s premier designers and I think I was the only one who saw it up close. I will never forget that
“I will just say farewell because I know you are just nearby. Thank you, Tonichi, for being you. Farewell.”
LULU TAN GAN
HELLO, Tonichi!
“Today, we gather to honor a humble and reliable friend, Tonichi, a pioneer in the world of menswear design and a talented creative force. He revolutionized ready-to-wear menswear at SM and even lent his expertise to directing fashion shows that captivated audiences.
“In recent years, his innovative contributions to the loungewear and kaftan-dressing trends during the pandemic lockdowns have left a lasting mark. Just last night, I heard from the SM team that they reached a quota.
“Tonichi would do store visits to make sure that the display is right, gather feedback on what sells the most and the least. In fact, my friends and I truly enjoy the comfy kaftans. A true collaborator at heart, Tonichi had a gift for bringing people together for meaningful projects. In the spirit of craftsmanship and giving back, through FDCP and collaboration with Kultura, Tonichi co-organized ‘Crafts for a Cause,’ demonstrating his commitment to supporting his community. For the last two years, he put effort into planning the exhibition and archiving the collection of Cesar Gaupo. This showed his reverence for the artistic contributions of past designers
“He must have thought that the design brands of Caloy Badidoy and Bubum Melgar, both from SM, Gerry Katigbak and Auggie Cordero, were forgotten. In response to Tonichi’s wish, on May 5th, I messaged him that an upcoming museum is taking in Cesar’s collection. We hope to carry on his legacy by supporting initiatives close to his heart.
“Rest in peace, my dear friend Tonichi. May your creative spirit soar in the heavens, forever inspiring us to strive for excellence and unity in all we do. You are loved, cherished and deeply missed. Farewell, Tonichi.”
KATRINA PONCE ENRILE
F tears could build a stairway and memories a path, I’d walk right up to Heaven and bring you back here again.
“Tonichi and I met for the very first time under a capiz chandelier some 45 years ago. We were both 19 and I had my first-born Kara. We had a group called the Silverado Gang in 1979 which was named after my Chevy Silverado truck.
“Long after the rest of the pack went their separate ways, though unintentional and only because of circumstances, Tonichi chose to stay behind by frequenting Morado to visit me, my mother and the rest of my family.
“Yes, he took care of my mom and treated her like his own mom, and looked after me like a caring sibling. Needless to say, he was my brother, my confidant and protector.
“I will never forget his two favorite expressions, ‘actually’ and ‘kaloka.’ How does one forget these words that are truly ‘very Tonichi’? In my quest for a soulmate, it took me some time to discover that the one I sought was always beside me. Tonichi was my soulmate. Yes, he never spoke about it but showed it in many ways.
“To my dear friend Tonichi, losing you is difficult especially when you did not even say goodbye.
“And, now, as death leaves a heartache no one can really heal, as love leaves a memory no once can really steal, I know that the pain will never heal. Until then, my dearest friend.” n
a press sample but before they did that, I already bought a bottle of the serum in Japan and have been using it since June.
The Night Sun Care Serum contains Niacinamide, which helps to eliminate or diminish sun spots and dullness; antioxidants like Yellow Flower extract and Green Tea extract to protect the skin from photo-aging; and a licorice-derived extract that helps to improve the skin’s texture.
I just learned (while writing this) that the serum is meant for the body and the face. So I have been using it for nearly a month and I feel that can make a good review on it. I am using a retinol (every other night) and this is the serum I use after I apply the retinol. The
PhilHealth Member Portal now available in eGovPH app
THE Department of Information and Communications Technology (DICT) and Philippine Health Insurance Corporation (PhilHealth) recently announced the integration of the ePhilHealth Platform in the eGovPH app, enabling the general public to digitally access and avail of the various digital health insurance services securely and conveniently anywhere they are in the world.
With the integration in the eGovPH app, PhilHealth members can now effortlessly access their membership profile, contribution history, declared beneficiaries as well as benefit availment history. Members can also view the list and register in the Konsulta provider that they have chosen, making primary care services within reach of every Filipino citizen.
In his message, DICT Secretary Ivan John E. Uy said that such a transformative enhancement will “revolutionize and elevate the user experience,” in compliance with Ease of Doing Business and Efficient Government Service Delivery Act and as directed by President Ferdinand R. Marcos, Jr. during his last State of the Nation Address to expedite digitalization efforts toward better public service delivery.
For his part, PhilHealth President and CEO Emmanuel R. Ledesma, Jr. thanked the DICT for this “transformative endeavor” which is not merely a step forward for PhilHealth but a great leap towards realizing the President’s vision for digitalization.
“This directive has been our guiding light, compelling us to reimagine and revolutionize the way PhilHealth will serve the Filipino nation. Gone are the days of tedious repetition of administrative paperwork, a mere few clicks will give our members the capacity to avail of this service with unparalleled ease,” he added.
To be able to access information through the eGovPH app, PhilHealth members are advised to download the eGovPH app, sign-up and verify their account. Verified accounts can login anytime using their registered mobile number.
FNG, Fast Retailing PHL break ground for UNIQLO logistics facility
FEDERAL Land NRE Global Inc. (FNG) and Fast Retailing Philippines celebrated a significant occasion with a groundbreaking ceremony for the UNIQLO Logistics Facility at Riverpark North, Cavite. The event was attended by prominent figures, including FRPH Chief Financial Officer Ryo Watanabe, FR Japan Group Senior Vice President Hidetsugu Asada, UNIQLO PH Chief Operating Officer Geraldine Sia, Cavite Rep. Antonio “Ony” Ferrer, FNG President Thomas Mirasol, General Trias City Mayor Luis “Jon-Jon” Ferrer IV, FNG Vice Chairman Yusuke Hirano, General Trias City Vice Mayor Jonas Labuguen, FLI Technical Execution Group Head Alvin U. Ty, NRE General Manager of Overseas Business Division Masao Toba, and FLI Project Development Head Stephen Comia. FNG is a joint venture between Federal Land Inc. (FLI) of the Philippines and Nomura Real Estate Development Co., Ltd. (NRE) of Japan, while Fast Retailing Philippines represents the Philippine arm of the global company that operates multiple fashion brands,
including UNIQLO. Together, these firms are redefining logistics operations by prioritizing worker wellbeing and environmental sustainability at the upcoming UNIQLO Logistics Facility. In early 2024, FNG and Fast Retailing Philippines forged an agreement to establish a logistics facility for UNIQLO. Designed as a strategic, human-centric logistics facility, it will integrate tecwhnology and sustainable practices to revolutionize operations and promote environmental stewardship. This dedication to innovation and sustainable development reflects FNG’s commitment to reshaping human living and enhancing the quality of life for the communities they serve.
Fast Retailing Philippines identified Riverpark North, Cavite as the optimal location for its new facility, underscoring the area’s strategic significance in its logistics network.
Emerging as the “Next Gen City of the South,” Riverpark is intended to be a key economic and industrial center that offers smart living and lifestyleenhancing developments within a river and parkside setting. Designed to exemplify future Filipino living,
Gokongwei Brothers Foundation, Khan
Academy bring global best practices to Filipino students
THE Gokongwei Brothers Foundation (GBF) has partnered with Khan Academy, a non-profit educational organization, to help bring global best practices to Filipino learners. GBF, the philanthropic arm of the Gokongwei Group, is the largest private sector provider of STEM (Science, Technology, Engineering, and Mathematics) scholarships in the country.
“Gokongwei Brothers Foundation in its 30 years of service, has had significant strides in improving access to quality education for both learners and educators. We see Khan Academy as an integral part of our plan to reach more learners to provide free quality education for all,” said Lisa Gokongwei-Cheng, managing director of GBF.
Khan Academy’s global education technology platform, founded by financial analyst Sal Khan in 2008, is focused on closing learning gaps and providing differentiated learning across various subjects. It’s been quickly adopted in different countries as an effective tool for learning.
As Khan Academy’s first international franchisee, Khan Academy Philippines aims to localize its content and lessons and align it with the Department of Education’s curriculum through a team of local Filipinos.
“We are so thrilled to be able to bring this global technology here to elevate learning in the Philippines by providing 21st century skills,” said Geraldine Acuna-Sunshine, CEO of Khan Academy Philippines. “Our expansion plans are hinged on partnerships with schools and companies like the Gokongwei Group and the Gokongwei Brothers Foundation who share our vision of a better future through education
In August of 2023, Khan Academy Philippines was launched in 34 schools (30 public and four private) across nine cities, namely Quezon City, Mandaluyong, Manila, Marikina, Makati, Pasig, Pasay, Las Pinas, and Dumaguete City. The pilot began with onboarding Math teachers by training them on how to use the platform as an effective teaching aid, strategies on Growth mindset, Mastery Learning, and Student Progress monitoring. The teachers then learned to create their own virtual Khan Academy classrooms and guide their students on how to navigate grade 4 math lessons in the platform during their weekly Khan Academy schedule.
According to Khan Academy data, to
have a positive learning impact, students must spend at least 18 hours per school year (about 30 minutes per week) of engaged, active learning on the platform. To encourage use, participating schools employed various techniques such as dedicated “Khan Academy time” in their schedules, dedicated WiFi use for the platform, and providing one device per student at a time for better learning experience. Parents were also oriented and included in the process to ensure that they could support their children’s use of the platform.
The pilot launch for the school year 2023-2024 included 71 Math teachers, 3,250 students and 600 parents with overall positive feedback from participants. Teachers acknowledged that the tool assisted them in developing lesson mastery, while students had fun doing the exercises and parents saw an increase in their children’s interest in learning Math. The Khan Academy team also saw a trend in increased skills mastery from students who used the platform consistently.
Prepare your back-to-school essentials by shopping at SM Store
WITH the start of the new school year just around the corner, it’s time to make a list of all the things that you will need to buy. Whether you are a student, a parent or a teacher, purchasing your essential items can set the tone for a successful school year. You only need to go to one place to buy everything you need and that’s all available at SM Store.
it is seamlessly transforming into a dynamic community, thanks to many recent developments including Yume at Riverpark, an 18-hectare, Japaneseinspired residential neighborhood; Riverpark Trails, a 1.8-kilometer bike trail for all levels; and SM City General Trias, the first SM mall in General Trias. The facility also benefits from strategic connectivity via the CaviteLaguna Expressway (CALAX), ensuring seamless logistics operations and convenient access to major transportation networks. As infrastructure developments like the LRT Line 1-Extension, LRT Line 6A – Cavite Extension, Cavite-TagaytayBatangas (CTBEX) Expressway, BataanCavite Interlink Bridge, and Sangley Point International Airport continue to enhance connectivity in Cavite, the UNIQLO Logistics Facility is wellpositioned to support and benefit from these advancements, further bolstering its role in the region’s economic landscape. For more information about this groundbreaking project and to stay updated on FNG’s latest news, visit www.fng.ph.
SM Store has everything that you need, all under one roof. For your stationery supplies, visit SM Stationery. SM Stationery offers a line of practical school backpacks for only P399 which already come complete with crayons, glue, A4 Paper, folder, envelope, sharpener, pencils, eraser, ruler, pens, and a pair of scissors. There, they have assorted notebook bundles for you to choose from. They come in packs of five, seven and eight. If you are not too keen about these notebook bundles,
there are also individual notebooks for sale. Smiggle, an Australian brand of school bags, pencil cases, and lunch bags are colorful and fun. These are available at SM Stationery in SM Store branches in Megamall, North Edsa, Makati, MOA, Cebu and Iloilo. School children will always need different kinds of note pads. At SM Stationery, you can get these note pads in bundles so you have enough supply for the rest of the school year. In search of a scientific calculator for school? The SM Stationery section also carries a selection of calculators for you to choose from. Now that you’ve got all the essential school supplies on your checklist, you can move on to SM Home for your lunch box and meal organizers for school. You don’t even have to transfer to another building or to another location just to finish your checklist. Look out for the Lock & Lock Easy Flip Lunch Bag which comes with organized compartments. You don’t need to worry about spilling your food as these containers can be closed very tightly, keeping your food safe. It also comes with an insulated bag.
Don’t forget to buy the Quencha Portable Cutlery Set to go with your lunch bag. It comes with a spoon, fork and knife. You will also need the double Wall insulated Drinking Bottle to keep your water cold all throughout the day.
You may also want to consider buying a study table for your child to inspire him to do well in school. Look out for the Hosh Study Table which is versatile and space saving, making it a perfect fit for any study room, condo, dorm or apartment for any kind of student. It is compact and yet versatile with a provision where your child can place all his books, notebooks and all his other school essentials all in one place. Preparing for the new school year can be a daunting task but having a checklist of essentials and knowing where to go for thes.e items can make the shopping experience smoother. After shopping at SM Store, you will be ready to tackle the challenges of the new school year head-on.
IN the photo are, from left, Atty. Geraldine AcunaSunshine, CEO, Khan Academy Philippines; Lance Gokongwei, Chairman, Gokongwei Brothers Foundation and Lisa Gokongwei-Cheng, General Manager, Gokongwei Brothers Foundation.
IN the photo are, from left, PhilHealth Executive Vice President and Chief Operating Officer Atty. Eli Dino D. Santos, Senior Vice President and Chief Information Officer Jovita V. Aragona, Ledesma, Jr., DICT Secretary Ivan John E. Uy and Undersecretary David L. Almirol, Jr.
In the photo are, from left, Chief Financial Officer of Fast Retailing Philippines, Ryo Watanabe; Group Senior Vice President of Fast Retailing Japan, Hidetsugu Asada; Chief Operating Officer of UNIQLO Philippines, Geraldine Sia; Cavite Rep. Antonio “Ony” Ferrer; President of Federal Land NRE Global, Thomas Mirasol; General Trias City Mayor Luis “Jon-Jon” Ferrer IV; Vice Chairman of Federal Land NRE Global, Yusuke Hirano; General Trias City Vice Mayor Jonas Labuguen; Technical Execution Group Head of Federal Land, Alvin U. Ty; General Manager of the Overseas Business Division of Nomura Real Estate Masao Toba; and Project Development Head of Federal Land, Stephen Comia.
HOSH Study Shelf with Desk
Executives as the new influencers? here’s how
WITH the advent of social media, influencers have gathered trust and goodwill with their audiences through personalized content that breaks the mold of traditional marketing.
But with the digital space being very busy, consumers are growing weary of traditional brand communications, demanding more transparency and authenticity says Dara Cothran, Executive Vice President of Global Strategy in an article in prnewsonline.
That’s why “we’re seeing more brands leverage leaders as mes -
n GC A SH for BuS i ne S S empH AS i ze S it S Support for LGB tQ i A-owned m S m eS Su C H A S Co ffee SH o p m i C H in S A jA MANILA, PHILIPPINES—For Pride Month, GCash, the Philippines’ leading finance super app and largest cashless ecosystem, celebrated its partnerships with businesses owned by members of the LGBTQIA+ community, further pursuing its vision of digital financial inclusion and economic growth for all Filipinos.
One such business is Michin Saja, a coffee shop owned by entrepreneur Alexis Carlos. Alexis maintains Michin Saja, which she inherited from her mother, as a safe space for the LGBTQIA+ community—and the result is a café that values customer comfort and employee empowerment. Thanks to this commitment, Michin Saja has expanded: It opened its second branch in Marikina last March, years after the business was launched in San Mateo, Rizal. GCash for Business has been, for Michin Saja, an integral part of day-today operations, its eventual expansion, and as support through economically demanding times. The café, like many
small businesses, needed to prevail over the challenges posed by the Covid-19 pandemic, including lower sales that could not cover daily expenses and the need for a widely accessible cashless transaction system.
With the help of financial solutions offered by GCash for Business—including GLoan, the cash loan service run by GCash’s official lending arm, Fuse— Michin Saja found enough stability to begin thriving. Alexis said, “In order for us to overcome the difficulties of the pandemic, we had to develop new strategies or new products. My mother used GLoan for the research and development of our products and the marketing.”
Michin Saja also relied heavily on GCash payments at the height of stringent quarantine lockdowns. Alexis shared, “During the pandemic, one of the most common problems was that we had to be contactless to the customers.
Using GCash helps us be more efficient when it comes to delivering, and it’s not just us [who benefit] but also the customers, who have a variety of ways to pay for their order.”
Michin Saja’s story is a testament to how GCash is committed to being the growth partner of micro, small, and medium enterprises (MSMEs), whether through digital payments or loans.
“LGBTQIA+ businesses are known for their creativity, vibrance, and warmth. It is important that they flourish because communities around them flourish
sengers for storytelling.” In short, more executives are becoming influencers. How does that happen?
Executives as “influencers” doesn’t mean they’re sharing promo codes and “Get Ready with Me” videos. Rather, she says, “it means they’re bolstering their credibility to let audiences think or act in a certain way in behalf of their organization.”
Yet, adds Cothran, “this influence must be earned, wielding it bears responsibility” to earn influence with employees, partners, customers, investors,
too,” said GCash Sustainability Head CJ Alegre. “We want to be there every step of the way for these businesses, enabling them to freely access financial services and loans so they can thrive in this digital economy.”
Scan to Pay, WebPay, and Funds Disbursement are among the offline payment options available to MSMEs from GCash for Business. With the GCash QR, businesses can get access to secure QR transactions, digital wallets, and real-time payments to their suppliers, as well as more options for their customers to pay with GCredit and GGives. Merchants also enjoy no wallet limits with their GCash QR and real-time viewing of their transactions through the merchant portal.
GCash for Business also offers a wide variety of loan services through Fuse, such as GCredit, GGives, GLoan, and GLoan Sakto, where users can borrow money as little as P100 to as much as P125,000 to fund anything they need for their business. These cash loans are easy to access right on the GCash app, so borrowing is a hassle-free experience.
Applications are assessed not on credit history and collateral but on past transactions on the app, making it easy for individuals and businesses to take out loans without facing discrimination. This feature works to buck the global trend where LGBTQIA+ entrepreneurs are less likely to secure loans due to unconscious bias. Women, small business owners, sari-sari store owners, farmers,
industry peers and other shareholders.
How is this possible? This she shares with us in Executive Communication: Three Elements for Establishing Influence.
While leaders must still cultivate a confident, decisive polished presence, earning influence means that they must meet new expectations across channels as new audiences are found to value different qualities.
Superior speaking skills are still important, but comfort on camera and a “listen to learn” approach are skills on the rise. New importance is being given to inclusiveness and respect for others; empathy, authenticity, and humility—once considered soft skills—are seen as essential leadership tenets.
She adds, “Authentic representation coupled with a distinct voice and perspective helps executives stay resonant and deliver on business objectives.”
That’s because “when leaders understand themselves professionally, they’re better able to intentionally capitalize on their unique qualities.”
public market vendors, and underbanked Filipinos also use GLoan due to its easy, accessible, and non-discriminatory processes.
In addition to digital financial services, GCash for Business also launched The QueeR Market, where users can explore a directory of LGBTQIA+ businesses. Each merchant listing comes with a description of how it supports LGBTQIA+ employees and customers, as well as personal stories of the business owners. The QueeR Market website lets queer-owned businesses sign up and be featured year-round, broadening their reach before potential customers, as well as registering to access payment solutions.
“When you belong to the LGBTQIA+ community, it is crucial to find businesses and organizations that welcome and celebrate you. To achieve that, LGBTQIA+ businesses and organizations need to be supported and empowered,” said CJ. “GCash is committed to being the growth partner of these businesses, for the good of the broader LGBTQIA+ community and the country’s goal for financial inclusion.”
n oG i Lv y He A Lt H A ppoint S Sofi A BeCCA r eL L i
How to establish that presence?
To establish a presence that earns influence and creates resonance, Cothran says executives must pinpoint their perspective with three elements: self, brand, and audience. Here’s what they should ask themselves:
n Self: What are your core values? What are your passion points and sources of inspiration? Do you have any unique mantras, processes, or approaches? It’s important to know and be comfortable with oneself to succeed.
n Brand: How aligned are you—and how aligned do you want to be—to your brand as an individual? How does your external presence support you in your role? What constitutes success for you? Your individual brand must be aligned with your company’s brand.
n Audience: What do you have to offer each of the stakeholders? How are you and your brand driving impact on your audiences? What do you wish
named Associate Planning Director for APAC. With close to a decade of healthcare advertising experience, Sofia has helped global healthcare leaders with their communications, building expertise across diverse therapeutic areas like rare diseases, oncology, vaccines, and diabetes. In the new role, Sofia will be responsible for driving the continued growth of Ogilvy Health’s client portfolio in Asia Pacific, supporting key regional clients with their marketing transformation, and partnering with in-market teams to expand the world of healthcare communications both strategically and creatively.
Commenting on the appointment, Pierre Robinet, President of Ogilvy Health in APAC, said: “In today’s healthcare landscape, deep expertise across therapeutics areas and health marketing is critical for driving successful healthcare brand transformations. Sofia’s leadership and experience further strengthen our regional team, and I’m already impressed by the depth of strategic conversations we’ve had with clients since she joined Ogilvy.” Sofia Beccarelli added: “I’m thrilled to be joining Ogilvy Health at such a pivotal moment. The healthcare landscape is evolving at an incredible pace, and the opportunity to craft compelling communications that resonate in this everchanging environment is exciting. I’m eager to contribute and help grow this exceptional team and drive meaningful
more people to know more about your work?
With the business landscape ever evolving, the only variable business leaders can wholly control is their own presence. Whether seeking to forge new business relationships, recruit and retain employees, built name recognition, or even find a new role, Cothran says “influence is only earned by committing to a platform and honing a persona.”
PR Matters is a roundtable column by members of the local chapter of the United Kingdom- based International Public Relations Association (IPRA), the world’s premier association for senior professionals around the world. Millie Dizon, the Senior Vice President for Marketing and Communications of SM, is the former local chair.
We are devoting a special column each month to answer the reader’s questions about public relations. Please send your comments and questions to askipraphil@gmail.com.
impact for our clients.”
Sofia started her career at Publicis LifeBrand in London, where she honed her strategic and creative expertise by devising high-impact campaigns for global pharmaceutical companies, charities, and healthcare providers. She moved to Singapore in 2022 to join the independent creative healthcare agency Ward6 as Senior Planner, leading integrated strategy and communication development for key healthcare clients, and designing innovative consumer, patient, and HCP experiences. Sofia’s project portfolio encompasses brand planning, patient advisory boards, go-to-market strategies, content planning, creative ideation, and public/patient activation initiatives, particularly in supplements and vaccine adoption. Her work has been internationally acclaimed at Cannes Lions (Health Bronze Lion for J&J’s Breaking Depression) and Clio Awards (Film— Health & Wellness Silver for Malaria No More UK’s The Secret CEO). The appointment comes on the back of significant business momentum for Ogilvy Health in Asia Pacific, fueled by the acquisition of modern talent and a diversification of its service offering over the last two years to respond to the ever-changing healthcare environment. This includes addressing rapidly evolving consumer needs through the delivery of innovative solutions and seamless experiences that blend applied behavioral science, data, and technology.
Pogacar makes foes eat dust in Pyrenees
AINT-LARY-SOULAN PLA
SD’ADET, France—Twotime champion Tadej Pogacar surged ahead on the last climb to win the mountainous 14th stage of the Tour de France and extend his overall lead to nearly two minutes on Saturday.
The elite climbers’ duel between Pogacar and the two-time defending champion Jonas Vingegaard finally came when Pogacar peeled away with about five kilometers left.
I love racing on instinct,” Pogacar said. “Sometimes it works, sometimes it doesn’t, but I love it that way.” Pogacar caught up with and overtook his UAE Emirates teammate Adam Yates, while Vingegaard was initially dropped but showed good composure to limit the damage.
T he Dane crossed the line 39 seconds behind the Slovenian Pogacar, who completed the 152-kilometer trek in just over four hours.
“ Let’s keep this positive energy so we can win more,” Pogacar said. “I was feeling really good today.” R emco Evenepoel of Belgium was third and dropped to third overall behind Vingegaard.
I stayed with him a little but he rode faster and faster and I was dropped,” Evenepoel said. “The pace was very high.”
A fter about two hours riders reached the first of the day’s two big “hors catégorie” (beyond category)
climbs—a 19-kilometer grind up the Col du Tourmalet, one of the race’s most famed Pyrenean climbs.
The second HC climb to the finish at Saint-Lary-Soulan Pla d’Adet was shorter at 10.6 kilometers but with a steeper gradient.
I rishman Ben Healy attacked first but was caught by Yates, who set up Pogacar for his 13th stage win of his Tour career.
Thanks to all the team, especially Adam,” said Pogacar, who won his second Tour in 2021.
Time bonuses for the victory
BusinessMirror
added four valuable seconds and extended Pogacar’s lead over Vingegaard to 1 minute, 57 seconds.
“ It’s a good lead, but you never know,” Pogacar said. “There is a long way to go.”
Evenepoel was 2:22 behind Pogacar heading into another big mountain stage on Sunday.
A g roup of 10 riders formed a breakaway in Saturday’s stage, moving four minutes ahead of the yellow jersey group approaching the Tourmalet ascent.
But with Nils Politt riding tempo for Pogacar’s team, the breakaway soon shredded to five riders, including Healy.
A pproaching the final climb, Healy attacked and the four others could not follow.
Healy had a chance to win his first Tour stage and a second in major races following a stage win at the Giro d’Italia last year. But those hopes
race participant at 5150 Bohol,” the statement said.
“The athlete required medical attention during the swim portion, with event medical personnel providing support onsite before transporting to hospital where the athlete sadly passed away.”
ERIKA BURGOS triumphs with plenty to spare in the women’s race.
Chino Trinidad, 56
Vended when Yates, followed by Pogacar, overtook him. Their attack seemed to surprise Vingegaard, who beat Pogacar to win Stage 11 on Wednesday, and it looked like he would lose significantly more time. But a strong response from the Team Jumbo Visma rider helped him stay within one minute of Pogacar.
Eritrean cyclist Biniam Girmay, who has won three stages, retained the best sprinter’s green jersey.
Sunday’s 15th stage—which falls on Bastille Day, France’s national day— features four big climbs before an even harder grind up to Plateau de Beille.
Monday is the second rest day of the three-week race, which this year finishes in Nice rather than Paris because of the Olympic Games. AP
TADEJ POGACAR proves how fit and ready he is to dominate this Tour de France by leaving his rivals behind in the Pyrenees. AP
Carcar benefits from SBG’s advocacy
ABASKETBALL league in Carcar City in Cebu found its genesis not just in the dreams of the young athletes but in the supportive hands of Senator Christopher “Bong” Go. As chair of the Senate Committee on Sports and a fervent pporter of grassroots sports, Go’s recent initiative has enlivened the spirits of Barangay Perrelos’ residents.
In May, the community gathered to celebrate this new beginning as young players, their families and local sports veterans joined a locally organized league that was funded through a P500,000 financial grant provided by the Philippine Sports Commission that was advocated for and upported by Go. Kagawad Nestor Garces, recognizing sports as a key tool for youth development, requested this support.
“ Every dribble echoes a child’s dream and every shot at the basket is a shot at betterment,” Go said. “I believe in the power of sports to not only
ETERAN sports newscaster Manolo “Chino” Trinidad passed away on Saturday due to heart failure, his daughter, Floresse Trinidad announced on Sunday. He was 56. A f ormer commissioner of the defunct Philippine Basketball League (PBL), Trinidad was considered as one of the most popular sports commentators in the country for his stints in the Philippine Basketball Association as well as in boxing, billiards and multisport competitions. He also worked as sports reporter for GMA News for decades. He’s the son of veteran sportswriter Recah Trinidad and photographer Fe Lacsamana. The family will announce details of Trinidad’s wake.
shape bodies but also to mold character, resilience and camaraderie among our young ones.”
The funds brought life to the local basketball court—from a worn-down facility into a vibrant venue with new equipment and facilities.
More than just a physical upgrade, the initiative revived the community and provided a venue where young athletes can grow and connect.
I n Carcar City, where basketball is not just a sport but a communal event, the refurbished court has become a central hub for engagement.
Kira wins in Kampar Kira Ellis stands atop the podium after ruling the inaugural Junior Asia Cup in Kampar, Malaysia, recently with Sam Corpus finishing fourth in the 750-meter swim, 20-km bike and 5-km run race. Ellis is coming off a five-week high-performance camp in Desmor, Portugal, under coach Sergio Santos and took part in the tough European Junior Dup in Hungary a week ago. She’s supported by the Philippine Sports Commission.
brought the team plenty of criticism.
CBy Josef Ramos
ONVERGE expectedly made Justine Baltazar as No. 1 in Sunday afternoon’s Philippine Basketball Association (PBA) Rookie Draft but head coach Aldin Ayo preferred the 6-foot-7 center to first fit into the FiberXers’ system rather than making an impact in the league’s 49th
player,” he added. I will just do my very best
in Converge,” said Baltazar, who’s playing out of Mabalacat, Pampanga. B altazar, 27 and a former national player from De La Salle, however, still has to contend with his live contract with Maharlika Pilipinas Basketball League (MPBL) champions Pampanga Giant Lanterns.
Lady Bulldogs in final unscathed
NATIONAL University (NU) blasted its way into the championship round after a clinical, 25-19, 25-18, 2521, dismantling of Letran in the Shakey’s Super League (SSL) National Invitationals knockout semifinal Sunday at the Ninoy Aquino Stadium.
The Lady Bulldogs displayed composure down the stretch to weather the Lady Knights’ rally from a nine-point deficit in the third set and complete their fourth consecutive straight sets win.
Unbeaten NU will face in the best-of-three finals either reigning National Collegiate Athletic Association champion College of Saint Benilde or Far Eastern University, who clashed in the other semifinals late Sunday. Game 1 of the championship showdown is Monday at 4 p.m. in the same venue.
Gia Maquilang had 12 points while Nizelle Martin finished with
I n spite of their ongoing struggles, England has scored when it has to. And it’s in the finals once more.
A nd that begs the questions—are they peaking at the right time? They were superb against the Netherlands in the semifinals. So maybe.
W hen they lost the last time at home, at Wembley, against Italy, they never lived it down. The Italians used the “It’s Coming Home” tag as motivation to further frustrate the English who have not had a major football trophy since they won the World Cup in 1966.
Their response was “It’s coming to Rome!”
A side from the Italians spoiling the party, the disaster at Wembley Stadium, site of the last Euro finals where fans broke barricades to enter the venue and generally made a mess of things was so embarrassing. Its infamy was even covered in a Netflix documentary.
So typical of the English,” detractors said, “Losers, and they screw it up because of their obnoxious fans.”
I g uess we will see. I f Spain wins the final, it will be crowned continental
10 for Letran, which will take on the other semifinals loser in the battle for third place. The battle for bronze is also a best-of-three affair.
Veteran hitter Bella Belen poured 18 points off 14 kills, three aces and a kill block, while Arah Panique scored nine points for NU, which is looking to annex the National Invitationals crown after ruling the first two editions of the Collegiate Preseason Championship.
Belen and Panique were able to suit up after Alas Pilipinas’s Japan training camp was moved to a later date. Erin Pangilinan had eight points while Vange Alinsug and Aishat Bello scored six points each for the reigning University Athletic Association of the Philippines champions Lady Bulldogs. N U kept their distance from feisty NCAA Season 99 runner-up Letran throughout the match and even built a nine-point lead in the third frame, 20-11.
champions for the fourth time and that will break a tie with Germany. As for England, it will be its first. Since its World Cup triumph, England has been the butt of jokes. For the country that invented the game, it has not only been outplayed, but other countries such as the Netherlands, Brazil, and Spain, have put their stamp on the game with their styles and philosophies.
M any even say the only reason why the Premier League is the top domestic league in the world is because it attracts the best possible foreign talent.
A t rophy dismisses that allegation. And their nation will do something right in Berlin for the first time. As victors during World War II, they, along with the United States entered Germany’s capital two months after the end of that great conflict. In contrast,
TOP pick Justine Baltazar (with cap) with (from left) Converge team governor Archen Cayabyab, player Patrick Maagdenberg and Commissioner Willie Marcial. COURTESY RUDY ESPERAS
