BusinessMirror July 21, 2023

By Raadee S. Sausa

DOTr: Naia rehab project awarded end-’23

By Lorenz S. Marasigan @lorenzmarasigan

THE Department of Transportation (DOTr) Secretary Jaime Bautista said the government could award the multibillion-peso rehabilitation deal for the Ninoy Aquino International Airport (Naia) by the end of the year.

Assuming that the agency will publish the terms of reference

(TOR) for the P170-billion Naia Rehabilitation Project soon, the department may award the deal by December. This already includes a leeway for extension requests.

“If we will be able to publish the TOR, then we can accept the bids after the publication. We can give them two months to submit the bids—maybe some of the bidders will ask for an extension. If we will given them three months after August, by November, we can

already open the bids and then we can award by the end of December,” Bautista said in a chance interview.

On Wednesday, the National Economic and Development Authority (Neda) Board—chaired by President Ferdinand Marcos Jr.—approved the P170-billion Naia Rehabilitation Project under a solicited scheme.

The P170-billion price tag is way below the unsolicited proposal of a consortium of business

tycoons for the airport rehabilitation, a long-term plan for which they put a price tag of P267 billion. The Neda Board-approved plan will cover all facilities of Naia including its runways and four terminals. Once completed, the project is expected to almost double the passenger capacity of Naia from 35 million to at least 62 million.

See “DOTr,” A2

In a statement, the central bank said the BOP deficit in June 2023 reflected outflows arising mainly from the national government’s (NG) net foreign currency withdrawals from its deposits with the BSP to settle its foreign currency debt obligations and pay for its various expenditures.

“Notwithstanding the deficit in June, the cumulative BOP position registered a surplus of $2.3 billion in the first semester of the year,” the BSP said.

“This level is a reversal from the $3.1-billion deficit recorded in the same period a year ago,” it added.

Based on preliminary data, the cumulative BOP surplus reflected inflows that stemmed mainly from personal remittances, net

foreign borrowings by the NG, trade in services, and foreign direct investments.

“The gross international reserves [GIR] level decreased to $99.4 billion as of end-June 2023 from $100.6 billion as of end-May 2023,” the central bank said.

Meanwhile, the latest GIR level represents a more-than-adequate external liquidity buffer equivalent to 7.3 months’ worth of imports of goods and payments of services and primary income.

Moreover, it is also about 5.7 times the country’s short-term external debt based on original maturity and 4.0 times based on residual maturity.

See “BOP,” A2

WOrlD nO. 2

Ernest john “E j” Obiena rises to world no. 2 in the World athletics rankings for men’s pole vault—a feat no other Filipino has ever gone before. already a member of the elite 6.0-meter club, Obiena trails Olympic and world champion and world record holder armand Duplantis of Sweden while shoving chris nilsen of the US to no 3. StoryinSports,b7

PHOTO COURTESY OF BANGKOK ASIAN ATHLETICS CHAMPIONSHIPS FACEBOOK

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

MANY hotels and resorts in the country continue to remain unprofitable, notwithstanding the surge in domestic guests and an increase in their rates.

In an interview with the BusinessMirror , Hotel Sales and Marketing Association (HSMA) president Loleth So said the hotel occupancy of their members in Metro Manila are “surpassing” prepandemic levels, averaging 7080 percent.

THE country’s overall balance of payments (BOP) posted a deficit of $606 million in June 2023, lower than the $1.6 billion recorded in the same month last year, data from the Bangko Sentral ng Pilipinas (BSP) showed. The narrower deficit was traced by one expert to higher remittances, tourist receipts and BPO revenues.

EngagIng WIth rIDErS acting chairman at ty. Don ar tes of the Metropolitan Manila Development authority (MMDa) meets with representatives from motorcycle ride-hailing groups and gasoline station operators to discuss crucial measures aimed at enhancing rider safety during heavy downpours. among the key topics on the agenda were the implementation of temporary lay-bys at gas stations and potential administrative sanctions for ride-hailing drivers found using the exclusive bus lane along Edsa. Story on page A2 News. ROY DOMINGO

Domini Velasquez, chief economist of China Banking Corp. said that the country's BOP continues to be helped by smaller merchandise trade deficit. a d ditionally, exports of services have jumped from a year a go, helping lift the current account in a period of lackluster global trade. r e mittances prove to be resilient also due to better economic conditions in host countries and declining inflation rates across the w orld,” she said.

Velasquez added that “at the current rate, it looks like the BOP would outperform the BSP’s recent projection of a $1.2-billion deficit.”

“Moving forward, we expect the trade deficit to remain relatively narrow [compared with l ast year] given the price impact of more moderate commodity prices on imports and possible export recovery toward end of the year,” she said.

Michael Enriquez, Sun l i fe i n vestment Management and Trust Corp. (S li M T i C ) president and chief investment officer, said that “the narrower d eficit was a result of higher OFW remittances, BPO revenues and tourist receipts over t he last few months.”

“We also saw some net foreign direct investments and lo wer imports due to lower oil prices,” he added.

MMDA to fine motorbike riders blocking traffic in heavy rains

By Claudeth Mocon-Ciriaco

to other motorists as well.

“Seeking cover from the rain may endanger the riders from being hit by other vehicles and also cause traffic con gestion,” said a r tes.

i n response, representatives from Grab and Joyride s aid they will remind their drivers to strictly follow rules and regulations.

the third quarter of this year, will provide riders with formal training on both theoretical and practical aspects of motorcycle riding, as well as basic e mergency response training.

The a c ademy aims to provide riders with basic training on handling motorcycles and following road and traffic rules.

“Metro Manila hotels are doing very, very well. Provincial hotels are taking off but not [at] that level yet, mainly because the cost of flights is very expensive now. So that is kind of slowing the influx towards Boracay, towards Palawan.”

S he added, the average daily rates ( a Dr ) o f Metro Manila hotels are “very healthy” as well, and back to prepandemic levels.

“We urge motorcycle ride-hailing firms to impose administrative sanctions on their partner motorcycle r iders who violate traffic rules,” said MMD a a cting Chairman r o mando a r tes in a meeting. The meeting was also attended by MMDa General Manager u n dersecretary Procopio l ip ana and Victor Nuñez, Traffic Discipline Office Director for Enforcement, and

representatives of motorcycle ridehailing services. The MMD a officials also asked motorcycle-ride hailing firms and gasoline station operators to support measures for motorcycle riders during heavy downpours.

a c cording to a r tes, motorcycle riders seeking shelter under flyovers are d angerous not only to themselves but

a r tes announced that the MMDa will start issuing traffic violation tickets to riders t aking shelter under underpasses and flyovers. Violators w ill be fined P500 for obstruction starting a u gust 1.

Moreover, a r tes asked the motorcycle ride-hailing services to support the establishment of the Motorcycle r i ding a c ademy by providing priority employment to participants who will finish the course.

The Motorcycle r i ding a c ademy, set to open within

M eanwhile, a r tes said gasoline station operators have supported the initiative of the MMDa to put up tents on their premises to provide temporary shelters for riders when it is raining.

However, the agency has to address the considerations and restrictions raised during their meeting.

“Gasoline station operators have asked us to submit o ur proposal and guidelines on the use of the tents to address safety and operational con cerns,” said a r tes.

PAGCOR TO LAUNCH OWN ONLINE CASINO IN Q1 2024

Bu O YED by the revitalization of the local gaming industry, the Philippine a musement and Gaming Corporation (Pagcor) is taking

steps to boost market growth, provide a more convenient gaming experience to guests, and encourage healthy competition.

Keynoting the opening ceremony of the SiGM a a s ia Summit 2023 at the SMX Convention Center in Pasay City on Thursday, Pagcor Chairman and CEO a l ejandro H. Tengco announced that the agency intends to launch its own online gaming operations, dubbed “casinofilipino.com” by the first quarter of 2024.

Tengco said at the online Casino Filipino will employ virtual reality-based technology that can simulate the sights and sounds of a physical casino, thereby offering a realistic and immersive gaming experience.

“ it will allow players to interact with the digital counterparts of traditional casino games. it w ill also transcend physical boundaries and will enable users from around the world to interact and participate in virtual environments. it c an reach a global audience and can establish a presence in virtual communities of avid gamers. it w ill likewise offer an opportunity to tap into new markets and diversify its customer base,” he said.

He added that the online

DOTr…

Continued from A1

“This won’t undergo a Swiss Challenge, and if we can give the award, the proponent will undergo financial closing, which may take about three to six months. Hopefully, by the middle of 2024, the concession agreement with the winning bidder can start,” Bautista said.

Consortium’s offer Earli E r in June, Manila i nternational a i rport Consortium (Miac) submitted a revised P267-billion unsolicited p roposal to the government, tagging it as the Naia Masterplan, which calls for a 25-year c oncession.

Miac is composed of six of the Philippines’ largest conglomerates, namely, a b oitiz i nfraCapital i n c., aC i n frastructure Holdings Corp., a s ia's Emerging Dragon Corp., a l liance Global- i n fracorp Development i n c., Filinvest Development Corp., and JG Summit i n frastructure Holdings Corp.

So explained much of the recovery in the Metro Manila hotels is d ue to domestic travelers and local M iC E (meetings incentives conventions exhibitions) activities. “But t he domestic market is highly seasonal. l i ke for staycations, they only stay during weekends, what happens now to our weekdays? The domestic market is good, but it cannot sustain operations and our expenses. S o we really need the global market,” she stressed.

Seasonal market T H u S , i n terms of r e venue Per av ailable r o om ( r e vPa r ), most HSM a - member hotels are “still far” from 2019 levels, said So, who is also the a r ea Director of Sales and Marketing for Megaworld Hotels and r e sorts Corp. r e vPa r is an important metric in monitoring a hotel’s performance.

Casino Filipino will “bring several benefits and opportunities such as increased revenue, extended reach and market expansion, cost efficiency, and enhanced customer engagement.”

Besides the new gaming offering, Pagcor will modernize its slot machine operations to help sustain growth momentum.

“We have already taken the preliminary steps and entered into negotiations with different manufacturers for the modernization of our slot machines. We expect our customers to have a renewed gaming experience as we endeavor to enhance our game offerings by replacing our old machines with a total of 3,500 brand-new units of Electronic Gaming Machines under a lease agreement between Pagcor and the manufacturer,” he noted.

The modernization plan also includes the development of the state-run gaming and regulatory firm’s i n formation Technology programs and systems to help finetune its Casino Management System.

The consortium proposed to implement the offer in three phases.

The first phase will be implemented over the first two years and is intended to quickly increase the capacity of the airport to 54 million passengers per annum (MPPa ) by 2025 and improve reliability, while reducing queuing t imes at various bottlenecks throughout Naia.

Phase 2 will increase the capacity of the airport to 62.5 MPPa by 2028 through the expansion and development of the terminal floor area, the addition of airfield facilities, and improvements in crossterminal transportation.

The third phase will further increase Naia’s capacity to approximately 70 MPPa by 2048 and consists of long-term expansion and development projects to further expand terminal space and airfield capacity.

i t h as yet to decide on whether it will join the auction for the solicited project but indicated on Wednesday that it stands by the more comprehensive offer that it submitted l ast month.

a c cording to research firm ST r , the r e vPa r of Philippine hotels averaged P3,708.30 in 2019. av erage hotel occupancy was at 80 percent and a Dr at P5,425.49, as per the same data. The Philippines was able to attract a record high 8.26 million international tourists that year.

“What we’re waiting for is obviously China because it’s always been on e of the biggest markets,” said So, adding, “that’s why i think the likes of Boracay and Cebu are not picking up yet.”

l atest data from the Department of Tourism (DOT) showed inbound tourists reached 3 million as of July 19, but visitors from China, which used to be the second largest source market for tourists, only numbered 129,077. China ranked fifth among the source market for inbound tourists, which was topped by South Korea. Se e, “South Koreans ‘loving’ PHL help boost tourist arrivals to 3 million,” in the BusinessMirror, July 20, 2023.

9th Virtus Awards

uNDE r t he National Tourism Development Plan for 2023-2028, the D OT wants to put renewed focus on domestic tourism, “strengthening it as the foundation of the national tourism strategy,” and at the same time, diversifying the country’s source markets for international travelers.

Speaking at HSM a’s general membership meeting on Thursday, meanwhile, SM Hotels and Conventions Corp. executive vice president Peggy a n geles underscored the need for the industry to go “beyond the bottomline,” the theme of this year’s Virtus aw ards. “ i n t oday's fast-paced and competitive world, it is easy to get caught up in the pursuit of financial success. However, t he true measure of excellence lies not only in the numbers but also in the way we connect, nurture, and inspire. it i s about the relationships we forge, the memories we create, and the positive influence we leave on everyone we encounter.” a c cording to awards chair r o se l i bongco, the awards “serve as a catalyst for inspiration and growth within our sales and marketing teams. We aim to ignite a fire w ithin each associate, encouraging them to claim new strategies a nd approaches that work in these unforeseen circumstances.” u p for grabs are awards for Outstanding Sales and Marketing a s sociate, Outstanding Sales and Marketing Manager, Outstanding Sales and Marketing l e ader, and Most Outstanding Marketing Campaign of t he Year. HSM a is the premier organization of hotel sales and marketing p rofessionals in the country with over 140 members nationwide. For more information on the awards, go to hsma.org.ph

TO promote road safety, the Metropolitan Manila Development Authority (MMDA) on Thursday asked motorcycle-ride hailing firms to discipline partner riders who violate traffic rules and regulations on the road, particularly those blocking traffic during heavy rains.

DMW’s Cacdac reveals crackdown vs student visa scam for OFW jobs

By Samuel P. Medenilla @sam_medenilla

THE Department of Migrant Workers (DMW) has launched a crackdown against unscrupulous consultancy services offering e mployment opportunities abroad using student visas.

DMW Undersecretary Hans Leo J. Cacdac said the initiative is a response to a reported surge in the number of immigration consultancy services engaged in the illegal activity.

“I think it is safe to say that those kinds of modus are increasing,” Cacdac said in a news conference on Wednesday.

“We do have these types of cases and there may be closures that h ave been undertaken along these lines,” he added.

DMW urged aspiring overseas Filipino workers (OFW) to be wary of the said scheme since it can land them in trouble abroad.

“If you are applying for work and then you are offered a student visa

arrangement to work, there is something wrong there,” Cacdac said.

T he affected OFWs were advised to report the incident to DMW.

“So if you are a victim of these types of arrangements, please come forward and tell us. We will advise you [how] to act accordingly,” Cacdac said.

He issued the warning after Migrante International filed a case at t he DMW and the National Bureau of Investigation (NBI) last week against an employment agency, which is

‘Gibo’ shares rationale in latest movement of top AFP officials

By Rene Acosta @reneacostaBM

DEFENSE Secretary Gilberto Teodoro

Centino, in a separate interview with military reporters, said he will turnover the command to Brawner today. Brawner’s successor is yet to be named.

supposedly charging its victims P100,000 to deploy them to Canada for work using student visas.   As for OFWs, who already fell prey to such modus, Cacdac said, they are working with the Philippines embassies and consulates abroad, to a ssist them.  Under Republic Act No. 11641 or the Department of Migrant Workers Act, the jurisdiction of DMW o nly covers OFWs, while other Filipinos abroad will be handled by the Department of Foreign Affairs.

Senate holds topping-off ceremony for new Senate building in Taguig

By Butch Fernandez @butchfBM

SENATORS conducted Thurs -

day the topping-off ceremo -

ny led by Senate President Miguel Zubiri for the New Senate Building (NSB) in Fort Bonifacio, Taguig City.

“The topping-off ceremony is symbolic of our recovery from the pandemic,” said Senator Nancy Binay, who was tasked to oversee the

construction as chairperson of the Committee on Accounts.

“Tuloy-tuloy na ang pag-arangkada natin pagkatapos maantala dahil sa pandemya,” said Binay.

Joining the simple rites were Senate President Pro Tempore Loren Legarda, Senate Majority Leader Joel Villanueva, and Senators Cynthia Villar, Joseph V. Ejercito, Ronald “Bato” Dela Rosa, and Bong Go. Also present at the NSB rites were former Senate President Tito Sotto and former Sen.

Ralph Recto. Other guests included Department of Public Works and Highways Secretary Manuel Bonoan, Bases Conversion and Development Authority Chairman Delfin Lorenzana, and Taguig Mayor Lani Cayetano.

With the topping-off rites, the Senate is on target to open for partial operations by July 2024, with Sen. Binay reminding that “may instruction kasi si Senate President Zubiri to conduct the opening of session next year sa Bagong Senado.”

Binay added: “Ang topping-off ay isang tradition na ginagawa para gunitain ang pagkumpleto sa structural frame ng isang building sa pamamagitan ng pagkabit ng huling structural beam nito.”

At the outset, she recalled, the new Senate building was already aiming to be one of the first green building-certified government facilities under the

Building for Ecologically Responsive Design Excellence (BERDE) program.

“In the face of climate change,” Binay reminded, “the government should walk the talk in promoting the use of sustainable structures.”

The lawmaker added that the NSB integrates sustainable features such as energy-efficient systems, water conservation measures, and the use of eco-friendly materials.

Moreover, Binay assured that the NSB would also consume between 30 to 50 percent less energy than standard buildings.

Moreover, she also recalled that its construction was green-lit by the 17th Congress after then Sen. Ping Lacson, as chair of the Committee on Accounts in 2016, called for the need to relocate to a new site due to increasing space limitations and the need for enhanced facilities.

Jr. said on Thursday that President

Ferdinand R. Marcos Jr. designated Army chief Lt. Gen. Romeo Brawner Jr. as the incoming chief of staff of the Armed Forces of the Philippines as part of the ongoing transition in the defense and military establishment.

Brawner will succeed General Andres Centino Jr. as the top military chief, whom the defense chief said will be appointed as the presidential adviser for the West Philippine Sea.

“Given that we are in a transition...the President [felt] that it was the opportune time for a change, and the change will be as seamless as possible, with as much continuity of policies, both in the transition to external defense and internal security,” Teodoro said of Brawner’s designation.

“The President’s choice really was that there should be already succession in the Armed Forces and in the interest of an orderly transition, his choice for chief of staff Lt. Gen. Romeo Brawner [who] was designated as the incoming chief of staff, which was supported by the whole defense establishment together with General Centino,” he added.

Teodoro said Centino was appointed as adviser, given the “importance of West Philippine Sea issue.”

“Now, what will come out of that, we have to wait for the Office of the President to come out with further pronouncement on Gen. Centino’s field,” the defense chief said.

“Certain groups [are] also handling, as part of their mandate, [the] West Philippine Sea issues, but there are national overall national security issues. S o to underscore the importance of the West Philippine Sea and the dynamics of the events which occurs there on a daily basis, the President decided to have a presidential adviser with Cabinet stature,” he added.

Teodoro stopped from elaborating further on Centino’s appointment, saying, “let us wait for the executive order. I do not want to preempt the President or whatever issuance will come out regarding that.”

Centino said his office is yet to be formally created, but said the President decided to form the office in order to give focus on the WPS.

“There are political issues that have to be addressed more appropriately,” he said, adding, “We need to refocus the strategy.”

PMMA graduates urged to maintain PHL’s global maritime leadership

PRESIDENT Ferdinand R. Marcos Jr. called for more reforms in maritime education on Thursday so Filipino seafarers will remain globally competitive.

In his speech during the 200th commencement exercises of the Philippine Merchant Marine Academy (PMMA) “Madasiklan” Class of 2023 in Zambales, Marcos stressed the importance of upgrading the existing curriculum for seafarers.

H e urged the private sector to continue playing its crucial role in the said endeavor.

“ The government welcomes the private sector’s support in promoting quality maritime education and training that allows this industry to be more innovative, resilient and adaptive to the ever-changing world,” Marcos said.

D uring the Shipping-Seafarer 2050 Summit last month, the Chief Executive highlighted the need for Filipino seafarers to possess the necessary skills so they can use new technologies in the shipping industry, such as sustainable fuels, digitalization, and automation.

L ikewise, Marcos assured the government will also help schools and training institutions such as the PMMA to make their maritime education more in line with the needs of the shipping industry.

“I call on all the c oncerned agencies to coordinate closely with the PMMA. Facilitate

what will make our maritime education even more responsive to the needs of the nation while ensuring that whatever steps that we take will be in compliance with laws and regulations,” Marcos said.

T he PMMA is a state-run maritime higher education institution, which produces graduates who end up joining the Philippine Navy, the merchant marine fleet, or the Philippine Coast Guard. Mar cos lauded the graduates who were able to complete their training despite the challenges posed by the pandemic. He urged them to apply what they have learned in their chosen field and keep the country a “global figure in the maritime industry.”

“Because as you take on your respective roles, whichever career path you may pursue, I encourage you to continue to do everything with the same amount of patience and resilience that you have shown during the time you had here in PMMA,” Marcos said.

In an earlier story, the B usiness M irror sat down with Max Mejia, the newly installed president of the World Maritime University in Sweden, for a freewheeling interview on addressing issues in the global maritime sector. (See, https://businessmirror.com. ph/2023/07/09/filipino-at-helm-ofglobal-school-for-maritime-leaders/)

Samuel P. Medenilla

World Trade Center CEO cites MICE industry’s role in economic recovery

THE Meetings, Incentives, Conferences and Exhibitions (MICE) industry plays a vital role in the country’s economic recovery as it creates prospects for the movement of local products and infuse foreign direct investments, among others, which eventually generate jobs, according to World Trade Center Metro Manila (WTCMM), the venue of major trade shows and exhibitions in the Philippines.

“ WTCMM, as a recognized major venue provider in the country, along with other industry players, play a vital role in the economic recovery by providing a fast track for companies in the B2B space,” WTCMM chairman and CEO Pamela D. Pascual said.

P ascual explained that major national and international events attract businessmen and entrepreneurs with high interest to engage in trade and new business opportunities, which it said creates prospects for the movement of local products, push trade receipts, and infusion of foreign direct investments that consequently generate jobs.

In a sta tement issued on Thursday, WTCMM said, trade shows that the country hosts and promotes “make a difference in optimizing business.”

“E ach show is recognized as a great equalizer by bringing stakeholders—big and small—into a defined marketplace of sellers and target clients,” WTCMM noted.

T he exhibition center explained further that business events are made meaningful when they attract foreign organizers to the country to promote world-class products and brand awareness among select and preferred markets, giving buyers the opportunity to interact with sellers with interests either to order or distribute Filipino products in foreign markets.

On-site sales and bookings boost business and often benefit buyers with a host of concessions, WTCMM noted.

P ascual cited cases of industry shows like PHILCONSTRUCT and WORLDBEX in 2022 and 2023, respectively, which brought the local construction and building industry and its foreign counterparts face-toface and virtually. WTCMM linked the

By Manuel T. Cayon @awimailbox

DAVAO CITY—Bangsamoro

individuals who may top the Bar and board examinations and win medals in international sports competitions will be provided with incentives by the Bangsamoro autonomous government, the information office said.

ZAMBOANGA City Electric Co-operative (ZAMCELCO) is committed to serve the region’s growing energy demand with stable, reliable power supply and cheaper power rates—all of which are targeted to happen by 2025.

“We’re giving ourselves a deadline. We have formally committed that by 2025 we will be providing stable electricity in Zamboanga City, with the projects that are in the pipeline,” said ZAMCELCO Chief Management Officer Atty. Rommel Agan.

This deadline that Agan referred to is represented in ZAMCELCO’s “Get SET25 Zamboanga” campaign, pledging continuous improvements in the stability and reliability of Zamboanga City’s power supply within the next three years.

These include the modernization of electric meters, replacement of wooden and dilapidated electric posts to steel poles, and installation of power transformers, and construction of new substations, and upgrade of transmission lines, among others.

All of these improvements are part of the P2.5-billion investormanager contract (IMC) awarded to the joint venture of Crown Investment Holdings Inc. and Desco Inc. The joint venture won the

PHILCONSTRUCT show with buyers from China online, while buyers from Tianjin, China visited WORLDBEX.

F urther, she said these milestones were in partnership with the WTC Shenyang, China, and leveraged their memberships in World Trade Centers Association (WTCA) with headquarters in New York.

“In these cases, we optimized the value of the global network of the WTCA in promoting business, trade, and investments,” Pascual said.

Apar t from China, companies, notably from Japan, Taiwan, and Korea, are regularly seen to be participating in trade shows in the Philippines, WTCMM said.

But bey ond generating business opportunities for the country, the major exhibition venue said the MICE industry “triggers a multiplier effect for other industries such as hotels and accommodation facilities, transportation, shopping and retail, restaurants, and tourist destinations, among others.”

Further, WTCMM said countries with successful MICE industries often have institutionalized monitoring of their contribution to the economy.

In Thailand, for instance, MICE contributed $3.2 billion or 0.77 percent of the country’s overall gross domestic product (GDP). In the absence of such monitoring, a Philippine Association of Convention Exhibition and Suppliers Inc. study estimates that the local MICE industry could contribute an estimated 0.004 to 0.87 percent to the country’s GDP.

Moving forward, WTCMM said properly built large-scale venues have to be established to capture the increasing demand from foreign markets to augment existing venue capacities that are already operating at full capacity in order to sustain the growth of the market for exhibitions and conventions.

“Our role in promoting international trade is by providing a venue for Filipino exporters to showcase Philippine worldclass products on the home front without them having to travel abroad,” said Pascual. Andrea E.

San Juan

National Food Fair 2023 reports ₧28.271-M sales

By Andrea E. San Juan @andreasanjuan

THE recently concluded 2023 National Food Fair generated sales amounting to P28.271 million, Department of Trade and Industry (DTI) preliminary reports, showed.

In a statement released by the DTI-Bureau of Domestic Trade Promotion on Thursday, the fair generated sales worth P28.271 million in cash, booked and under negotiation for the 268-onsite exhibitors and drew more than 29,000 fairgoers.

The 2023 National Food Fair, with its theme “Go Discover, Taste, Enjoy!” ran from July 12 to 16, 2023 in SM Megamall.

During his speech at the National Food Fair opening ceremony, Trade Secretary Alfredo

E. Pascual said the food fair is a “fitting support” for an industry where the country possesses a competitive edge.

“This five-day event blends science and tradition, a gamechanger in the Philippine food industry,” Pascual said.

The trade chief said the hall of the food fair this year is “filled with new and innovative food products, boasting exceptional packaging and meeting global quality standards.”

This, he said, compared with the event’s momentum in 2021, as it “decelerated with the global pandemic,” but underscored the vital role of online selling during the pandemic.

“In 2021, the National Food Fair was limited to online selling, which caused a slight decline in sales. Nevertheless, we

all persevered and rose through the challenges of the pandemic, finding opportunities by embracing digital platforms, exploring new markets, improving product quality, and undertaking various initiatives,” Pascual reported.

Moreover, Pascual said when the National Food Fair returned as a “comprehensive” event in 2022, it “expanded” its reach beyond the physical exhibit hall to a nationwide scale and even reached the international market through online selling via e-commerce platforms.

Pascual added that DTI regional and provincial offices continuously discover new entrepreneurs. Moreover, he said the organizers’ “strict criteria” encourage exhibitors to improve their product quality, safety, packaging, labeling, production

capacity, and sustainability.

The trade chief also noted that the 2023 National Food Fair is not just a physical show but also an online experience.

In fact, through DTI’s partnership with various platforms, such as Lazada, featured exhibitors will make their exceptional products available to serviceable areas nationwide, Pascual said.

“Filipino cuisine is making its mark globally, with the rise of Filipino restaurants in the US and Europe. The National Food Fair will foster the success of our MSMEs and will pave the way for them to penetrate the global market. This shared vision represents our collective aspirations for the growth and recognition of Filipino culinary ventures,” Pascual said.

ERC extends late meter permit renewal for DUs

By Lenie Lectura @llectura

THE Energy Regulatory Commission (ERC) has extended the deadline for late meter permit renewal imposed on power distribution utilities (DUs) to ensure the accuracy of customer billing meters.

According to the ERC, DUs that have not yet renewed their Certificate of Authority (CA) to operate and maintain a meter shop are required to complete

their applications for the renewal on or before September 30, 2023 to avail of the leniency program and avoid financial penalties for the late renewal.

At the same time, upon effectivity of the guidelines, all DUs without a CA to operate and maintain a meter shop are required to immediately suspend the collection of the metering charge from their consumers.

The agency said an updated CA ensures that the DUs’ metering facilities are accurate in measuring

sports achievers

One of the principal authors of Bangsamoro Transition Authority (BTA) Bill No. 198, or the Bangsamoro Incentives Act of 2023, Dr. Hashemi Dilangalen, said this would emphasize the importance of showcasing the achievements of Bangsamoro individuals as a source of motivation for further success.

Dilangalen believed that recognizing and celebrating their accomplishments will contribute to the economic and social

bid in 2018 to manage the operations of the debt-ridden and ailing electric cooperative, which now has more than 125,000 billed customers.

The IMC is a contractual relationship between a willing electric cooperative and a willing investoroperator for the infusion of risk capital and provision of management expertise by the latter to the former to provide for sustainable electric cooperative recovery based on improved efficiency, lower costs and systems loss reduction.

One of the major improvements since the new management took over the electric cooperative is the duration of unplanned power outage. From an average of eight hours a day, unscheduled power interruption now only lasts for a few minutes.

“Before we came in, ZAMCELCO never passed the power system reliability test of NEA [National Electrification Administration]. This was mainly because of pilferage activities that resulted in high system loss. Now, we are the first electric cooperative that was able to imprison violators of the anti-pilferage law,” said ZAMCELCO General Manager Engineer Gannymede Tiu. System loss refers to unbilled

advancement of the Bangsamoro community.

Individuals who achieve top ranking in the bar and physician board examinations and Philippine Regulation Commission (PRC) licensure examinations, as well as winners of international individual, paired, or group sports, skills, or academic competitions, will be eligible for incentives.

In addition, coaches and trainers will receive 20 percent of the total cash incentive

power caused by pilferage and physical loss of energy when electricity passes through distribution lines, which can be passed on to consumers as stated under Republic Act 7831, or the AntiElectricity and Electric Transmission Lines/Materials Pilferage Act of 1994.

ZAMCELCO is targeting to bring down its system loss to around 8 percent in the next few years.

The improvements in the power service over the last five years has resulted in significant growth for the business and tourism sectors, to name a few. ZAMCELCO officials said the Sardines capital continues to attract big-ticket projects such as shopping malls, cold storage facilities, hospitals, tin can manufacturing plants, among others.

“Our load growth is more or less 5 to 6 percent annually. We are preparing to address the forecasted increase in demand for the next 10 years or so,” said Tiu, adding that these include competitive auction for 50 megawatts (MW), sourcing an additional 30 MW from renewable energy technology, and uprating of power stations.

ZAMCELCO presently sources its power requirement from the Power Sector Assets and Liabilities

granted to the awardees.

The bill did not specify any amount yet.

To qualify for these incentives, recipients must be natural-born Filipino citizens and bona fide residents of the Bangsamoro region. They must also present a certificate or official document issued by either the Supreme Court of the Philippines or the PRC confirming their topnotcher status in the respective examinations.

Management Corp., the Wholesale Electricity Spot Market, and Malita power plant.

The officials strongly believe that the new management of ZAMCELCO has regained the trust of its customers.  “With all our efforts to turn ZAMCELCO around, and considering that we came from an ailing electric cooperative, we can proudly say that we have passed the reliability standards,” added Tiu.

ZAMCELCO awaits regulatory approval of its proposed P1.3 billion capital expenditure for 2019-2021 and is set to file its 2022-2024 capex of around P2 billion. Agan said these would support ZAMCELCO’s ongoing and future projects, ultimately achieving its goals.

He also emphasized that competitive compensation is vital to employee retention. Since the IMC was enforced, ZAMCELCO made efforts to upgrade the salary scale.

“For the longest time, the employees’ salary was based on NEA salary scale of 2008. Initially, we are working on to updating the pay scale from 2008 to 2015. This is up for NEA’s approval. We cannot be competitive if we don’t do it. Our employees are the best asset we have,” said Agan. Lenie Lectura

the power consumption of customers and meet the regulatory standards of ERC. It added that the original deadline varies depending on the expiry of the CA.

“The leniency program takes off from the PSA [(power supply agreement] caravan we conducted last year, where several DUs, electric cooperatives mostly, expressed difficulties in meeting the renewal timelines given the challenges faced during the lockdowns,” said ERC Chairperson Monalisa C. Dimalanta.

“With this leniency program, the ERC aims to promote compliance by the affected DUs so they can be current in their permits without facing the financial penalty which, in the case of electric cooperatives, may end up being shouldered by their memberconsumers,” she added.

DUs that continue to operate their meter shops without a valid CA are bereft of any authority to collect the metering charge from consumers until they are able to renew their CA.

DAR spearheads construction of vinegar factory for Zamboanga coconut farmers

THE Department of Agrarian Reform (DAR) has initiated a program that seeks to provide small coconut farmers in the town of La Libertad, Zamboanga del Norte added income opportunities.

With a vinegar-processing center, members of the Santa Cruz Small Coconut Farmers’ Multi-Purpose Co-operative (MPC) can start producing vinegar, which they intend to distribute in La Libertad and nearby towns.

Rizzel Villanueva, DAR Zamboanga del Norte Provincial Agrarian Reform Program Officer, led the groundbreaking rites of the P694,000 vinegar processing facility in Barangay Sta. Cruz.

The Santa Cruz Small Coconut Farmers’ MPC is a recipient of the Village Level Farm-focused Enterprise Development (VLFED) project that aims to enhance the products of the agrarian reform beneficiaries (ARB) using appropriate facilities and equipment applicable to the agri-business enterprise of the co-operative.

Villanueva said the project seeks to increase the income of farmers by providing them with a facility to process and add value to their farm products, like vinegar, a by-product of coconut.

“The farmers living in La Libertad are mostly coconut farmers. In their copra making, nothing is wasted. The coconut water, which was usually just thrown away, is used to be processed into vinegar,” Villanueva explained.

She said the farmers would undergo seminars and training from the Department of Science and Technology (DOST) on vinegar-making and other coconut by-products, product development, and business marketing to develop their farm enterprises and make their business operations profitable.

“This project is a big help to the farmers and to nearby farm communities who depend on coconuts and manufacturing products from the trees as a source of income and livelihood,” Villanueva added.

Prior to the groundbreaking rites, the DAR signed a memorandum of agreement with the DOST, Department of Trade and Industry (DTI), and Technical Education and Skills Development Authority (TESDA).

Under the agreement, the DAR shall provide for the construction of the facility, product testing analysis, and other laboratory tests of agri-products.

It was also agreed that the DOST would provide machines for the processing facility such as LPG burners with tanks, air compressors, 60-liter kettles, and other plant accessories. The DTI will provide the promotion and marketing of the coconut vinegar.

The construction of the food processing facility will end on December 2023 and is expected to be fully operational before the year ends. Jonathan L. Mayuga

Villafuerte pushes nationwide IEC blitz on merits of Maharlika Investment Fund

By Jovee Marie N. Dela Cruz @joveemarie

to let the Marcos government spend much, much bigger on infrastructure and other priority programs—without resorting to additional borrowings,” Villafuerte said, one of the principal authors of RA 11954.

This is urgent as the results of public opinion polls showing that although there has been significant support from Filipinos familiar with the MIF, a majority of our people are actually clueless about this Fund, much less know that it will greatly benefit our people,” said Villafuerte.

this wealth fund will allow President Marcos to fund more and bigger priority initiatives for the rest of his presidency—without unduly raising public debt—and keep on track his goal of transforming the Philippines into an upper middle income economy by 2025,” Villafuerte said.

L atest Bureau of the Treasury (BTr) data showed that the country’s outstanding debt stood as of endMay at P14.096 trillion, or P185 billion higher than the month-ago debt stock of P13.911 trillion and P1.601 trillion higher than the May 2022 level of P12.495 trillion.

Marcos presidency,” he said.

Villafuerte said an IEC campaign will thus enable the government to tell the public—and hopefully make them aware—that as an alternative source of potentially substantial funds from here and abroad for public investments, the MIF will enable “the government to spend more money on an infrastructure buildup and its other priority programs like agricultural modernization, climate action and green energy development without having to resort to more borrowings.”

V illafuerte, quoting Neda estimates, said the 194 Nedaapproved flagship projects mentioned by President Marcos might require a total funding of $148 billion or P8 trillion.

C amarines Sur Rep. LRay Villafuerte said President Ferdinand R. Marcos Jr.’s economic team led by Finance Secretary Benjamin Diokno should work in tandem with the Presidential Communications Office (PCO) and other traditional media and social media agencies of the government to let the public know that the MIF would allow the administration to spend much more on infrastructure and other priority

programs using equity rather than debt and financing. Now that our first-ever sovereign investment fund is in place with RA 11954, an IEC by the President’s economic managers along with his legacy media and socmed (social media) teams should be the next order of business so the MIF can win broad and deep support from the public that needs to know it will be an alternative revenue stream

He said the people need to know that tapping the MIF for additional foreign direct investment (FDI) inflows is a sure way to sustain the country’s post-pandemic economic rebound and create more jobs, given that the results of the June 7-12 Pahayag survey by Publicus Asia showed that the economy is among the top concerns of Filipinos and highlights—according to the pollster—“the significance placed on economic stability and growth by a substantial portion of the population.”

As our economic managers go on an anticipated global road tour to pitch MIF to overseas investors, a nationwide IEC is in order so that an overwhelming majority of our people will not remain clueless that

T he same data showed that P9.588 trillion or 68 percent of the country’s outstanding debt was domestic, and P4.508 trillion or 32 percent was external or foreign debt.

He said an IEC drive is necessary because public opinion polls show that although a majority of survey respondents who are familiar with the MIF are supportive of this Palace-endorsed fund, many Filipinos are actually clueless about it.

“ This means that in order for the MIF to get great traction across the country, a nationwide effort has to be mounted right away to make most Filipinos aware of this investment fund—and how it will actually spell better lives for our people even before the end of the

D uring last Tuesday’s RA 11954 signing ceremony, the President said: “The MIF is a bold step towards our country’s meaningful economic transformation. Through the fund, we will accelerate the implementation of the 194 National Economic and Development Authority Board (Neda)-approved flagship infrastructure projects.”

Moreover, the President noted that the Fund has the potential to funnel in external financing, reducing the government’s burden to finance infrastructure through borrowings and taxes. “The establishment of a sovereign wealth fund will widen the government’s fiscal space and ease pressure in financing public infrastructure projects,” he said.

These projects, he said, are those on physical and digital connectivity, irrigation and water supply, flood management, health, energy, agriculture, climate-change mitigation and other major infrastructure. Villafuerte explained that higher public spending will further stimulate the economy and create more jobs, hence sustaining the Philippines’ robust post-pandemic growth rebound that is needed for it to be on track to becoming an upper middle income economy by 2025.

However, he said an upper middle income status will impact on our country’s fiscal position as this status will stop our country from still accessing concessional loans, like Official Development Assistance (ODA) that have relatively lower interest rates and longer repayment periods, which are available only to poor and low-income countries. V illafuerte noted that even Indonesia and Vietnam, for example, which have no current account surplus, have their own wealth funds to support their investments in priority development programs.

Journalist-turned-diplomat Elmer Cato gets second Mabini Award

Philippine Military Academy (PMA) Class 1955, was known for his gallantry in combat, particularly at the outbreak of the Mindanao war against the Moro National Liberation Front (MNLF) known as the Burning of Jolo, Sulu on Feb. 8, 1974 where his unit, the 14th Infantry Battalion, though outnumbered was the first to mount a counterattack against the rebel forces.

By Noel G. Tulabut

By Ben Cal Philippine News Agency

FORMER Armed Forces of the Philippines (AFP) vice chief of staff Lt. Gen. Salvador M. Mison passed away on Wednesday, July 19, at the age of 90, his family announced on Thursday.

H is family said Mison died peacefully but did not mention the cause of his death.

The AFP will give full military honors to Mison during the burial over the weekend.

M ison is survived by his wife Ione, and children Irene and Dave, Jun and Cherry, Gay and Albert, Freddie, Ione and Tom, and Michael, and 13 grandchildren and one great grandchild.

His remains lie in state at the Libingan ng mga Bayani in Fort Bonifacio, Taguig City.

I nstead of flowers, his family is requesting to donate to the “Ang Mission ni Mison Foundation, Inc.”

M ison, a graduate of the

Continued from A16

“GDP growth projections for the Philippines are maintained. Robust investment and private consumption drove growth by 6.4 percent year on year in Q1 (first quarter) 2023, supported by rising employment, expanding production and retail sales, and brisk private and public construction,” ADB said. Merchandise exports declined,

H is brilliant war strategy led to his promotion as full army colonel on the recommendation of then AFP chief of staff Gen. Romeo Espino to then President Ferdinand E. Marcos Sr. Mison was also the commander of the 8th Division of the AFP Eastern Command based in Samar.

T he Burning of Jolo incident practically caught government forces by surprise as heavy fighting erupted in the capital town in what is considered as the first recorded urban warfare in the AFP’s war on terror.

B efore hostilities erupted, MNLF rebels armed to the teeth practically roamed the streets despite the presence of the soldiers and policemen.

It was only a matter of time before a shooting war would start and tension filled the air and was felt by everybody at that time.

A s fighting broke out, the AFP high command in Camp Aguinaldo, Quezon City dispatched the 14th Infantry Battalion under then Lt. Col. Mison to reinforce government forces pinned down during the Jolo fighting.

partly offset by expansion in service exports. Tourism bounced back, and growth remained strong for business process outsourcing and information services,” it added.

A DB said it also maintained its growth outlook for developing economies in Asia and the Pacific at 4.8 percent this year, as robust domestic demand continues to support the region’s recovery.

Inflation in developing Asia is

THE US has committed to further boost the Philippines’ military capabilities, the Southeast Asian nation’s defense chief said, as he vowed to “do everything” to assert the country’s rights in the South China Sea (SCS).

T he Philippines will work with the US to build a “credible deterrent posture,” Defense Secretary Gilberto Teodoro said on Thursday. He added US Defense chief Lloyd Austin assured in a recent call that America will assist the Philippines in upgrading its defense assets.

Teodoro also said that the Philippines will push for its claim in the contested sea amid elevated tensions with China. “We should do everything in our power to assert our rights in the West Philippine Sea, responsibly and in a calculated and sustainable and not knee-jerk manner,” Teodoro said in a media briefing.

T he Philippines under President Ferdinand R. Marcos Jr. has been bolstering its longstanding defense alliance with the US, recently giving America expanded access to its military sites. The US has also assured the Southeast Asian nation that it will come to its defense in case of an armed attack in the SCS. Bloomberg

forecast at 3.6 percent this year, compared with an April forecast of 4.2 percent. The inflation outlook for 2024, meanwhile, is raised to 3.4 percent from an earlier estimate of 3.3 percent.

A DB said the reopening of the People’s Republic of China (PRC) is bolstering the region’s growth. The PRC’s economy is projected to expand 5 percent this year, unchanged from the April forecast, amid strong do-

ANGELES CITY—For risking life and limb not just once but twice in foreign diplomatic posts, Consul General Elmer Cato was conferred his second Gawad ng Mabini, one of the highest and most prestigious recognition in government service. During the celebration of the 125th anniversary of the Department of Foreign Affairs, Cato was recognized for his stint in war-torn Libya and Iraq where he volunteered to be assigned on two separate occasions. The award, with the rank of Dakilang Kamanong (Grand Cross), was given by Foreign Affairs Secretary Enrique Manalo.

C ato was cited for his role in evacuating distressed overseas Filipino workers (OFWs), including human trafficking victims, from conflict zones in Iraq and Libya during two separate stints as head of the Philippine embassies in Baghdad and Tripoli.

The award was approved last year by President Rodrigo R. Duterte upon the recommendation of then Foreign Affairs Secretary Teodoro Locsin Jr. but was presented to Cato and several other senior diplomats only this year.

C ato, a journalist-turned-diplomat served as Charge d’affaires and Head of Mission of the Philippine Embassy in Baghdad from 2015 to 2018 and at the Philippine Embassy in Tripoli from 2019 to 2021. The Gawad Mabini is a Presidential award presented to DFA personnel for acts of merit, including protecting or evacuating Filipinos in danger zones abroad.

Cato’s Gawad Mabini is his second. He received his first Gawad Mabini with the rank of Dakilang Kasugo in 2012 for the public-private partnership project that involved the transfer and hosting at no cost to government of DFA passport offices in shopping malls around the country.

A n Army reservist, Cato is also a recipient of the Bronze Cross for heroism that involved risk to life for his actions in Libya. A journalist before becoming a diplomat, Cato had served in various positions at the DFA and had also served in New York and Washington, D.C. He is currently the Philippine Consul General in Milan.

Other recipients include Ambassador Igor Bailen of the Philippine Embassy in Moscow; Ambassador Leah Ruiz of the Philippine Embassy in Warsaw; Assistant Secretary for Asean Affairs Daniel Espiritu; Consul

mestic demand in the services sector.

However, demand for developing Asia’s exports of electronics and other manufactured goods is slowing, as monetary tightening drags on economic activity in major advanced economies. The region’s growth forecast for next year is marginally revised down to 4.7 percent from a 4.8 percent estimate in April. Asia and the Pacific continues

General Zaldy Patron of the Philippine Consulate General in Calgary; and Deputy Chief of Mission Eric Tamayo of the Philippine Embassy in Paris.

I n receiving the award, Cato paid tribute to Filipino diplomats who had served in conflict zones abroad.

“ This honor bestowed upon me in recognition of the total of five years spent looking after our ‘kababayans’ in Baghdad and Tripoli, is not mine alone,” Cato said in a Facebook post.

“ I share it with the men and women who I served with in the frontlines of Iraq and Libya who were there with me in the line of fire, in the service of the Republic of the Philippines and the Filipino people,” he added.

to recover from the pandemic at a steady pace,” said ADB Chief Economist Albert Park. “Domestic demand and services activity are driving growth, while many economies are also benefiting from a strong recovery in tourism. However, industrial activity and exports remain weak, and the outlook for global growth and demand next year has worsened.”

A DB is maintaining its growth

forecasts for most subregions in Asia and the Pacific. Exceptions include Southeast Asia, where the outlook is lowered to 4.6 percent this year and 4.9 percent next year, compared with April estimates of 4.7 percent and 5 percent, respectively. The forecast for Caucasus and Central Asia is revised down marginally to 4.3 percent from 4.4 percent for 2023, and to 4.4 percent from 4.6 percent in 2024.

ASENIOR lawmaker suggested on Thursday that the government’s economic and communications teams work together to launch a nationwide information, education, and communication (IEC) campaign to bump up public awareness— and hopefully appreciation—of the recently enacted Maharlika Investment Fund (MIF) Act.

‘Gibo’ says US renews pledge to support PHL defense upgrade

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

Flooded with sightseers, Europe’s iconic churches struggle to accommodate both worship and tourism

By Giovanna Dell’orto The Associated Press

BARCELONA, Spain—A recent Saturday evening Mass at Sagrada Familia parish had all the hallmarks of a neighborhood worship service, from prayers for ill and deceased members to name-day wishes for two congregants in the pews.

But it also featured security checks to get in and curious tourists peering down to take photos of the worshippers from above. The regular Mass is held in the crypt of modernist architect Antoni Gaudí’s masterpiece church, one of Europe’s most visited monuments.

With tourism reaching or surpassing pre-pandemic records in Barcelona and across southern Europe, iconic sacred sites are struggling to accommodate the faithful who come to pray and the millions of visitors who often pay to view the art and architecture.

“We’re working to get ahead of this, so that we don’t get to a collapse,” said the Rev. Josep Maria Turull, rector at Sagrada Familia and the Barcelona archdiocese’s director for tourism, pilgrimage and sanctuaries.

An increasingly popular strategy is to have visitors and the faithful go separate ways—with services held in discrete places, visits barred at worship times, or altogether different entry queues.

This spring, the Vatican opened a separate “pathway” starting outside St. Peter’s Basilica for those who want to enter to pray or attend Mass, so they wouldn’t be discouraged by sometimes hourslong lines for the average of 55,000 daily visitors, said Basilica spokesperson Roberta Leone.

But the challenge remains: how to balance the churches’ competing roles amid the tourism surge without sacrificing their spiritual purpose.

“It’s just really hard because you also want people to experience your faith,” said Daniel Olsen, a Brigham Young University professor who researches religious tourism. With an estimated 330 million people visiting religious sites yearly around the world, it’s one of the tourism market’s largest segments.

Worshippers, who often come because celebrated churches tend to have more services than regular parishes, need free access even as tourists often pay fees that are crucial to maintaining the sites.

“The temple needs to be a place for services and not a theme park,” said Joan Albaiges after Mass in the Sagrada Familia crypt, which he’s attended regularly for six decades.

He praised the move in recent years to celebrate one multilingual Sunday Mass at the main altar in the soaring, color-filled basilica. There’s such demand for the 800 free tickets, however, that several hundred people queueing routinely don’t get in, Turull said.

Lay and religious leaders say the histories of the sacred sites should be presented to visitors, who are increasingly unfamiliar with faith traditions in rapidly secularizing countries where lesser-known

churches are emptying out or being repurposed.

“Some people go to the cathedral, and they don’t realize they’re in a church. It’s a situation that’s developing in nations that were majority Christian, and now faith is cooling off,” said José Fernández Lago, rector of the Cathedral of Santiago de Compostela.

Filled with masterpieces from Romanesque sculpture to lavish Baroque decorations, Santiago’s cathedral attracts hundreds of thousands of tourists and pilgrims who since the Middle Ages have traveled along the Camino routes to venerate St. James’s tomb.

To preserve its role as a revered pilgrims’ church, Lago said, the cathedral doesn’t charge entry fees, cap visitor numbers or require a dress code. On a hot early summer morning, a steady stream of pilgrims ducked each other’s selfie sticks in front of the jewelencrusted St. James statue, some still in tight cycling shorts or sweat-stained hiking shirts.

But visits aren’t allowed during the four daily Masses celebrated at the main altar, and priests as well as security guards constantly ask visitors to lower their voices to allow others to pray.

“It keeps getting harder,” said Juan Sexto, who in 10 years working security at the cathedral has noticed a change in how many visitors behave.

As crowds surged before the always-packed noon pilgrims’ Mass, he kept stepping to the main microphone asking for silence—which lasted a minute or so before enthusiastic visitors resumed chatting.

Sexto had a supporter in the second pew. Waiting for Mass to start, pilgrim Miguel Angel Ariño said the church did well to allow only the faithful during worship times, while leaving the cathedral open long hours for cultural visits.

“As people, we need the transcendent. Leisure and rest, and time with God, are not incompatible,” Ariño said.

Without some strategy, however, they can become so. Co-existence between worshippers and tourists has been controversial at Istanbul’s Hagia Sophia. Built as a landmark cathedral in the Byzantine era, turned into a mosque by the conquering Ottoman Empire in the 1400s, and open as a museum for the last century, it was converted back into a functioning mosque in 2020 by Turkey’s Islamic-oriented government.

Now visitors can tour the structure for free outside of prayer hours. In Hagia Sophia’s main section where prayers are held, the vast mosaics depicting Christian figures are hidden behind drapes and most of the marble floor is

covered with carpeting. “We would like it to be a museum again,” said Ricardo Bravo, a tourist from Mexico visiting the monument with his family. “We would like to see more things to understand more, to appreciate more Turkish culture.”

At many of Spain’s most-visited churches, the balance was often off-kilter in the opposite direction. So many visitors thronged the vast Basilica del Pilar in Zaragoza on a mid-June Saturday that it was nearly impossible to hear the midday Mass celebrated in the small chapel where a statue of Our Lady of the Pillar is venerated.

With some 2.5 million annual visitors, Barcelona Cathedral was also close to a breaking point before its council revolutionized the worship vs. tours balance over the last few years.

“It was like being in a market,” recalled Anna Vilanova, who directs the cathedral’s tourism strategy. “We had to put some order.”

The cathedral instituted caps on visitor numbers, required tour groups to use wireless audio guides to reduce noise, and added staffers to explain the new policies to visitors and those coming for daily Mass or confession, held in a side chapel with crystal doors to preserve silence.

“The point comes when tourism is so massive that it occupies the worship space,” said Xavier Monjo, who oversees the cathedral’s publications. “The cathedral is alive, it’s not a museum.”

The visitor guides included with the entry fee seek to prioritize the church’s role as an active place of worship.

The nave description in the “unmissable” list, for example, starts by stating that “this cathedral has been and is a space dedicated to prayer” before describing its stunning Catalan Gothic architecture. The entry for the rooftop terraces explains that this is where the blessing of the city happens each May on the feast of the Holy Cross.

“As tourism has been growing, it’s also an opportunity—not to proselytize, but to discover the deep meaning of what they can see,” Turull said. “All those who enter like tourists can leave like pilgrims, can have a spiritual experience.”

While 3.7 million tourists explored the Sagrada Familia’s arresting architecture and mesmerizing stained glass windows last year, Fenelon Mendez remains focused on the parish activity literally underneath.

Originally from Venezuela, he’s lived in the neighborhood with his family for a decade and often serves as sacristan and altar server. There are ministry programs for single moms and for migrants, and regular food distributions, he said.

The basilica provides a unique experience, so the faithful should continue to get full access to it, Mendez said. But the crypt where regular worshippers gather is the true core where many like him feel at home.

“You could take the basilica to New York, but we are here,” he said in the sacristy, long after the day’s tourists had stopped wandering above.

The Associated Press journalists Francisco Seco in Istanbul and Suzan Fraser in Ankara, Turkey, contributed to this report.

Thailand braces for political upheavals as parliament ousts Pita from PM race

By Patpicha Tanakasempipat

Thailand’s parliament will convene on July 27 to vote again on the country’s new prime minister.

Pita, the leader of the party that won the May general election, was blocked from heading the next government with lawmakers deciding he cannot be nominated again—his first attempt to get parliament’s backing last week failed as conservative parties and the military-appointed Senate voted against him.

The moves leave Pita with near-zero chance of leading the country, although the eight-party pro-democracy coalition his Move Forward Party, cobbled together after the May 14 polls still has a shot at ending the nearly decadelong military-backed rule. Pheu Thai, the second-biggest party in the alliance, is waiting to discuss with partners on the strategy for the next vote, Srettha Thavisin, a prime ministerial candidate of the party, told reporters Thursday.

While Pita has already said

he’s willing to let Pheu Thai lead government formation efforts, he’s yet to officially concede that he has exhausted all his chances.

“Today, we’re still bound by the MoU,” Srettha said, referring to the post-poll pact with Move Forward and suggestion that time is of essence. How it proceeds “depends on the negotiation team,” he said, while clarifying that it was still too early to say if his party will form a new alliance.

Local equities had their longest winning streak since the start of the year, with the SET Index rising for a fifth straight day on hopes that a Pheu Thai candidate in place of Pita would have a better chance of forming government.

100,000-strong march SHORTLY before parliament blocked Pita’s bid Wednesday, a court had suspended Pita as a lawmaker, pending a final verdict on his disqualification over alleged breach of election rules.

Pita urged his supporters to fight alongside him. Protesters gathered outside of the parliament gates Wednesday, with police officers in flak jackets lined up on the other side.

Supporters also started arriving at Rajadamnoen Road in front of Bangkok’s Democracy Monument since Wednesday night. The protest leader Arnon Nampa called on sympathizers outside of Bangkok to join them, with a plan to hold a 100,000-strong march to the government house to condemn Pita’s ouster from the race.

The developments bear uncanny similarities to earlier ones against Thanathorn Juangroongruangkit, leader of Move Forward’s predecessor party. Thanathorn was found guilty by the same court for holding media shares and disqualified as a lawmaker. His party, known as

Future Forward, was later dissolved in another case, igniting a mass protest movement in 2020 that led to unprecedented calls for monarchy reforms.

What is certain is a period of political limbo, leaving caretaker Prime Minister Prayuth ChanOcha, who came to power in a 2014 coup, in charge in the interim and policy making stalled.

The key risk will be a delay in endorsing the nation’s annual budget for the fiscal year starting Oct. 1, which could hurt spending in an economy already reeling from slowing exports. Protests are also a risk to tourism, the only growth engine currently operating at full steam.

“We do not rule out the possibility that PM selection will spill over into August,” said Tim Leelahaphan, a Bangkok-based economist at Standard Chartered Bank Plc. “We expect political noise to

rise further even after PM selection concludes, as it remains to be seen how voters will perceive the selected PM.”

Although investors previously wagered that the political deadlock in Thailand may come to an end soon, concerns over the delay in forming a government more than two months after the elections as well as approving the budget are pushing up borrowing costs for companies.

The yield of 5-year BBB-rated local currency notes in Thailand has jumped nearly 10 basis points in July, while that of similar notes in Indonesia and Malaysia fell around 5 and 7 basis points, respectively, according to data compiled by Bloomberg.

Coalition math

WITH Wednesday’s vote indicating that a candidate might get only one shot at becoming prime minister, Pheu Thai might risk its chance should it continue to stick with Move Forward—whose pledge to reform the so-called lese majeste law that punishes anyone defaming or insulting the royals is opposed by the conservative camp.

“The one-time nomination is a new precedent,” Srettha said Thursday. “The next prime minister vote must then be approached carefully.”

He noted that 250-member Senate vote was crucial for a win, and that it’s clear that the next party to nominate a prime minister must not have Article

112 in its agenda. Srettha was referring to Pita’s campaign promise on the royal insult law.

Also, the Constitutional Court hearing a separate case regarding Move Forward’s disbandment only strengthens the case for Pheu Thai to explore options.

“This is a very good and legitimate excuse for forming bigger, new alliances to garner enough votes for prime minister approval,” said Napon Jatusripitak, visiting fellow at ISEAS-Yusof Ishak Institute.

Pheu Thai may be tempted to align with conservative groups such as Bhumjaithai Party of cannabis champion Anutin Charnvirakul or Palang Pracharath Party of former army chief Prawit Wongsuwan. Anutin told reporters Thursday that he hasn’t been approached by Pheu Thai yet.

While Move Forward has 150 seats in the 500-member lower House of Representatives after Pita’s suspension, Pheu Thai has 141. As regards the conservatives, Bhumjaithai has 71 seats, Palang Pracharath 40, United Thai Nation 36 and Democrat Party 25. The winner needs to have more than half the votes in the combined National Assembly, whose strength is currently at 748.

Asked whether Pheu Thai will stick with Move Forward, Srettha said: “Do the math.” With assistance from Napat Kongsawad, Suttinee Yuvejwattana, Pathom Sangwongwanich, Anuchit Nguyen, Margo Towie, Ian Sayson and Harry Suhartono/Bloomberg

Students eye protests against lawmakers who blocked Pita

By

for the

to resist those in power through every means available to them.

Thai student groups have been at the forefront of political demonstrations. Most recently in 2020, they called for unprecedented reforms of the monarchy, including

the revocation of the lese majeste law as well as calling for reforms making royal spending more transparent.

They had back then opposed the dissolution of the Future Forward Party, the predecessor of Pita’s

South Africa: Putin will skip Johannesburg BRICS summit because of ICC arrest warrant

By Gerald Imray

The Associated Press

CAPE TOWN, South Africa—Vladimir Putin has agreed not to attend an economic summit in Johannesburg next month that will include China’s premier and other world leaders because of an arrest warrant by the International Criminal Court for the Russian president, South African authorities said Wednesday.

Russia and summit host

South Africa reached a “mutual agreement” that Putin would not attend the Aug. 22-24 gathering, which brings together a bloc of developing economies known as BRICS, though he was initially invited, the office of South African President Cyril Ramaphosa said.

The development could be viewed as embarrassing for Putin, who is now expected to be the only leader of a country in the bloc not to attend.

Kremlin spokesman Dmitry Peskov said Wednesday that Putin “has decided to take part” in the summit via video link, without confirming if he had intended to attend the summit.

It ended months of speculation over whether Putin would travel to South Africa, which is a signatory to the Rome treaty that formed the International Criminal Court and therefore has the obligation to arrest the Russian leader if he sets foot on South African territory.

South Africa had given strong hints that it would not arrest Putin if he attended but had also been lobbying for him not to come to avoid the problem.

South Africa said as recently as last week that the Russian leader had been determined to attend, perhaps as a way to challenge the ICC warrant, which Moscow has dismissed.

Moscow has showcased the BRICS alliance as an alternative to the West’s global dominance, but this year’s meeting has proved awkward for Putin following the ICC’s move in March to indict him for war crimes relating to the abduction of children from Ukraine.

Although Moscow dismissed the warrant, Putin has not traveled to a country that is a signatory to the ICC treaty since his indictment. Analysts have said that the public debate about whether the

Russian leader would or would not travel to South Africa was in itself an unwelcome development for the Kremlin.

The South African government has strong political ties with Russia, but Putin’s attendance would have exposed it to possible diplomatic and legal repercussions.

South Africa’s main opposition party recently took the government to court in an attempt to compel it to arrest Putin should he travel to the country. The ICC treaty has also become part of South African domestic law, meaning the government could be taken to court in South Africa if it failed to honor its commitment to the international court.

Ramaphosa spoke with Putin by telephone this weekend and held more “consultations” with BRICS officials on Tuesday, Ramapohosa’s office said in a statement.

Russian Foreign Minister Sergey Lavrov would attend the BRICS summit in person to represent Russia, Ramaphosa’s office said.

Meanwhile, the leaders of all the other BRICS nations, including China’s Xi Jinping, would attend the summit, Ramaphosa’s office said.

Wednesday’s announcement comes a day after a court document was made public in which Ramaphosa said that any attempt by South Africa to arrest Putin would be viewed as a “declaration of war” by Russia. The affidavit made by Ramaphosa was part of the government’s response to the court challenge brought by the country’s main opposition party to compel it to arrest Putin.

“I must highlight, for the sake of transparency, that South Africa has obvious problems with executing a request to arrest and surrender President Putin,” Ramaphosa said in the affidavit. “Russia has made it clear that arresting its sitting president would be a declaration of war.”

However, Kremlin spokesman Peskov denied that.

“No one has indicated anything to anyone,” Peskov said. “In this world, it is absolutely clear to everyone what an attempt to encroach on the head of the Russian state means. So there is no need to explain anything to anyone here.”

Move Forward, and also the political ban on its leader Thanatorn Juengrungruangkit.

Protests are currently planned throughout the weekend.

“Today, we the people, are filled with immense disappointment

and mourn the demise of justice and democracy in this country,” the students wrote. “However, this is the last day that we will grieve, for tomorrow we will not drown in the despair caused by your inequitable actions.” Bloomberg News

Ticket sold in California wins $1 billion Powerball jackpot

The Associated Press

AWINNING ticket has been sold in California for the Powerball jackpot worth an estimated $1.08 billion, the sixth largest in US history and the 3rd largest in the history of the game.

The winning numbers for Wednesday night’s drawing were: white balls 7, 10, 11, 13, 24 and red Powerball 24. The California Lottery said on Twitter that the winning ticket was sold in Los Angeles at Las Palmitas Mini Market.

Final ticket sales pushed the jackpot beyond its earlier estimate of $1 billion to $1.08 billion at the time of the drawing, moving it from the seventh largest to the

sixth largest US lottery jackpot ever won.

The winner can choose either the total jackpot paid out in yearly increments or a $558.1 million, one-time lump sum before taxes.

The game’s abysmal odds of 1 in 292.2 million are designed to build big prizes that draw more players. The largest Powerball jackpot was $2.04 billion Powerball in November.

The last time someone had won the Powerball jackpot was April 19 for a top prize of nearly $253 million. Since then, no one had won the grand prize. Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the US Virgin Islands.

THAILAND is set for more political upheavals after Pita

Limjaroenrat was barred by parliament from running for prime minister Wednesday, angering his supporters and opening the door for his coalition partners to seek the top job.

DEMONSTRATORS outside the Thai Parliament during a protest in Bangkok, Thailand on Wednesday, July 19, 2023. BLOOMBERG

AP writers Dasha Litvinova in Tallinn, Estonia, and Mogomotsi Magome in Johannesburg contributed to this story.

PEOPLE line up to buy Powerball tickets at

Napat Kongsawad

THAI students from the nation’s biggest universities called for protests against lawmakers who blocked election winner Pita Limjaroenrat from

being nominated

prime minister’s post, marking growing anger among the people. Student unions from Thammasat, Chulalongkorn, and Mae Fah Luang universities penned an open letter, urging Thai people of all ages

The World

More than $500B corporate-debt storm builds over global economy

By Jeremy Hill & Lucca De Paoli

A partner at Cleary Gottlieb, a top law firm for corporate bankruptcies, he’s advised businesses worldwide for decades on what to do when they’re drowning in debt. He did it through the global financial crisis, the oil bust in 2016 and Covid-19. And he’s doing it again now, in a year when big corporate bankruptcies are piling up at the second-fastest pace since 2008, eclipsed only by the early days of the pandemic.

“It feels different than prior cycles,” Cooper said. “You’re going to see a lot of defaults.”

His perch has given him a preview of the more than $500 billion storm of corporate-debt distress that’s already starting to make landfall across the globe, according to data compiled by Bloomberg. The tally is all but certain to grow. And that’s deepening worries on Wall Street by threatening to slow economic growth and strain credit markets just emerging from the deepest losses in decades.

On the surface, much of it looks like the usual churn of capitalism, of companies undermined by forces like technological change or the rise of remote work that has emptied office buildings in Hong Kong, London and San Francisco.

Yet underneath there’s often a deeper, and more troubling, through-line: Debt loads that swelled during an era of unusually cheap money. Now, that’s becoming a heavier burden as central banks ratchet up interest rates and appear set to hold them there for longer than nearly everyone on Wall Street expected.

The rising tide of distress is, of course, to a certain degree by design. Caught by surprise as inflation surged, monetary policymakers have been aggressively

draining cash from the world’s financial system, intentionally seeking to slow their economies by stanching the flow of credit to businesses. Inevitably, that means some will fail.

But pockets of corporate credit look particularly vulnerable after ballooning during the years of rock-bottom interest rates, when even faltering companies could easily borrow to delay the reckoning.

In the US, the amount of highyield bonds and leveraged loans— which are owed by riskier, less creditworthy businesses—more than doubled from 2008 to $3 trillion in 2021, before the Federal Reserve started its steepest rate hikes in a generation, according to S&P Global data. Over the same period, the debts of non-financial Chinese companies surged relative to the size of that nation’s economy. And in Europe, junk-bond sales jumped over 40 percent in 2021 alone. A lot of those securities will need to be repaid in the next few years, contributing to a $785 billion wall of debt that’s coming due.

With growth cooling in China and Europe—and the Fed expected to continue raising rates—those repayments may be too much for some businesses to bear. In the Americas alone, the pile of troubled bonds and loans has already surged over 360 percent since 2021, the data show. If it continues to spread, that could lead to the first broad-based cycle of defaults since the Great Financial Crisis.

“It’s like an elastic band,” says Carla Matthews, who heads contentious insolvency and asset recovery at consulting firm PwC in the UK. “You can get away with a certain amount of tension. But

there will be a point where it snaps.”

That’s starting to happen already, with more than 120 big bankruptcies in the US alone already this year. Even so, less than 15 percent of the nearly $600 billion of debt trading at distressed levels globally have actually defaulted, the data show. That means companies that owe more than halfa-trillion dollars may be unable to repay it—or at least struggle to do so.

This week, Moody’s Investors Service said the default rate for speculative-grade companies worldwide is expected to hit 5.1 percent next year, up from 3.8 percent in the 12 months ended in June. Under the most pessimistic scenario, it could jump as high as 13.7 percent—exceeding the level reached during the 2008-2009 credit crash.

Of course, much remains uncertain. The US economy, for one, has remained surprisingly resilient in the face of higher borrowing costs, and the steady slowdown in inflation is raising speculation the Fed may be steering the economy to a soft landing. Yield spreads in the US junk-bond market—a key measure of the perceived risk—have also narrowed since March, when the collapse of Silicon Valley Bank briefly sowed fears of a credit crisis that never materialized.

Yet even a relatively modest uptick in defaults would add another challenge to the economy.

The more defaults rise, the more investors and banks may pull back on lending, in turn pushing more companies into distress as financing options disappear. The resulting bankruptcies would also pressure the labor market as employees are let go, with a corresponding drag on consumer spending.

“You’re going to see situations—for example, in the retail sector—where the business just doesn’t make sense and no amount of balance sheet fixing will cure the ills of a particular debtor,” Cleary Gottlieb’s Cooper said.

Post-Pandemic Reality

IN London’s Canary Wharf,

HSBC’s name is emblazoned on the top of the 45-story office tower that’s been its headquarters for two decades. It’s one in a constellation of big banks that turned the once derelict riverside in east London into a world financial center.

Even before the pandemic, banks were quietly scaling back on office space in London, reflecting both cost cuts and the UK’s exit from the European Union. Remote work has accelerated it.

That’s fallen particularly hard on Canary Wharf. Two buildings owned by Chinese property developer Cheung Kei Group were taken over by receivers after loan payments weren’t made. In June came more bad news: HSBC said it’s planning to leave by late 2026. That’s another blow for Canary Wharf Group, the developer whose credit rating has already been cut deep into junk as vacancy rates rise and retailers there struggle. It has more than £1.4 billion (about $1.8 billion) of debt coming due in 2024 and 2025.

No other industry is facing pressure as acute as commercial real estate due to the slow return to offices that’s emptied buildings and thinned out downtowns. More than a quarter of the distressed debt worldwide  — or about $168 billion—are tied to the real estate sector, more than any other single group, the data show.

There seems to be little relief on the horizon. A survey by property broker Knight Frank found that half of the international firms it surveyed are planning to cut down on office space. Coaxing tenants back can be expensive, particularly as businesses look for more environmentally friendly workspaces.

“Tenants have bargaining power now,” said Euan Gatfield, a managing director at Fitch Ratings.

Most of the distressed debt linked to the property sector is a result of the real estate bust in China. As China Evergrande Group restructures its debt, major companies like Dalian Wanda Group Co. and Country Garden Holdings Co. have seen the prices of their debt tumble. In the US,

co-working giant WeWork Inc., whose losses have piled up since its 2021 public stock listing, has bonds due in 2025 that currently yield around 70 percent.

As demand for office space wanes, Canary Wharf Group is seeking to cut the district’s reliance on the finance industry, with plans to draw life-sciences companies and build more residences. Investors have doubts: One of the company’s bonds, which matures in 2028, is being traded at around 69 percent of its face value. Canary Wharf and the other companies declined to comment.

The buyout machine

PRIVATE equity firms thrived on easy credit thanks to a simple recipe: Find a company to buy, borrow money from Wall Street, then cut costs to make a profit. That often left those companies deeply indebted, frequently with floating-rate loans.

It mattered little when the Fed pinned interest rates close to zero, and some buyout firms appeared to see little risk that rates would rise—opting to not even buy relatively low-cost hedges that would safeguard their companies. Now, interest bills are now surging on those floatingrate loans, pushing many of those businesses to the brink.

More than $70 billion of debt from private equity owned companies is trading at distressed levels. Shutterfly LLC, the online photo-printing company, is one of them.

Apollo Global Management bought Shutterfly about four years ago for about $2.7 billion, much of it bankrolled with debt. When it refinanced in 2021, the interest rate on its roughly $1 billion term loan was only about 5 percent. At the time, Moody’s expected the debt would become more manageable as the business improved. That didn’t happen. Instead, Shutterfly burned through cash as inflation squeezed consumers and businesses.

Meanwhile, the rate on the loan jumped to around 10 percent this year. With the company’s financial outlook darkening,

its lenders agreed to swap the loan for new obligations that will push out its debt bills. Moody’s said the deal is akin to a default and rated the new debt deeply into junk grade. Apollo didn’t respond to requests to comment on Shutterfly. Shutterfly declined to comment.

Brewing troubles

RISING rates are dealing a twin threat to companies tied to consumer spending as higher-bills squeeze household budgets.  Advertising is among the earliest expenses companies cut when they brace for a recession, and that may ripple down to those like Audacy Inc. One of the US’s biggest radio-station owners, Audacy has more than $800 million of debt due next year. In May, S&P slashed the company’s rating further into junk, predicting it will be forced to restructure its debt as the economy slows. Audacy said in a statement that it’s currently talking with lenders about refinancing options. Its bonds due 2029 last changed hands for less than 5 cents on the dollar. Elsewhere, the debt woes of French grocer Casino GuichardPerrachon SA have been building for years. Under Jean-Charles Naouri, it embarked on series of acquisitions to expand into new markets, including Brazil. As the business grew, debt swelled. Then, the pandemic dealt new challenges: Casino’s concentration in tourist districts backfired during lockdowns, as did its price hikes during the inflation that followed.

Naouri now looks set to lose his grip on the company, which has more than €3 billion (about $3.4 billion) of debt maturing over the next two years and is engaged in court-overseen debt-restructuring talks. Czech investor Daniel Kretinsky is in position to take control of Casino after gaining support from key creditors for an offer to inject €1.2 billion into the grocer. C reditors would swap some of their debt for equity. Bloomberg News

Protesters storm Swedish Embassy in Baghdad ahead of planned Quran burning in Stockholm

By Ali Jabar

The Associated Press

BAGHDAD—Protesters angered by the planned burning of a copy of the Quran stormed the Swedish Embassy in Baghdad early Thursday, breaking into the compound and lighting a small fire.

Online videos showed demonstrators at the diplomatic post waving flags and signs showing the influential Iraqi Shiite cleric and political leader Muqtada al-Sadr ahead of a planned burning of the Islamic holy book Thursday in Stockholm by an Iraqi asylum seeker who burned a copy of the Quran in a previous demonstration last month.

The videos showed dozens of men climbing over the fence at the complex, with the sound of them trying to break down a front door.

Another showed what appeared to be a small fire being set. Other footage showed men, some shirtless in the summer heat, inside what appeared to be a room at the embassy, an alarm audible in the background.

Others later performed predawn prayers outside of the embassy.

As dawn broke, police and other security officials gathered at the embassy as small plumes of smoke still rose. Firefighters tried to douse the flames from the ladder of a fire truck. Some demonstrators still stood at the

site, holding placards showing al-Sadr’s face, apparently left alone by police.

The Swedish Foreign Ministry said in a statement that “our embassy staff are in safety,” without elaborating.

“We condemn all attacks on diplomats and staff from international organizations,” the ministry said. “Attacks on embassies and diplomats constitute a serious violation of the Vienna Convention. Iraqi authorities have the responsibility to protect diplomatic missions and diplomatic staff.”

The Finnish embassy in Baghdad is adjacent to the Swedish embassy, in an area enclosed by blast walls. Finland’s ambassador to Iraq, Matti Lassilla, told the Finnish public broadcaster YLE that the staff of the Swedish and Finnish embassies were proactively evacuated Wednesday and were uninjured.

Iraq’s Foreign Ministry also issued a statement condemning the attack, without explaining how it allowed the breach to happen or identifying who carried out the assault.

“The Iraqi government has instructed the competent security authorities to conduct an urgent investigation and take the necessary security measures in order to uncover the circumstances of the incident and identify the perpetrators of this act and hold them accountable according to the law,” the Foreign Ministry said.

Iraqi police did not immediately acknowledge the attack.

The state-run Iraqi News Agency reported that Prime Minister Mohammed Shia alSudani was set to hold “an important meeting regarding the repercussions of Sweden granting a second license to burn the Holy Quran” but did not specify with whom he would be meeting.

Stockholm police spokesman Mats Eriksson confirmed that police had granted permission for a demonstration involving two people outside the Iraqi Embassy in Stockholm

on Thursday. He could not say whether the protesters were planning to burn the Quran.

The right to hold public demonstrations is strong in Sweden and protected by the constitution. Blasphemy laws were abandoned in the 1970s. Police generally give permission based on whether they believe a public gathering can be held without major disruptions or risks to public safety.

However, for Muslims, the burning of the Quran represents a blasphemous desecration of their religion’s holy text. Quran burnings in the past have sparked protests across the Muslim

world, some turning violent. In Afghanistan, the Taliban have suspended all the activities of Swedish organizations in the country in response to the recent Quran burning.

An Iraqi Christian immigrant last month burned a Quran outside a Stockholm mosque during the major Muslim holiday of Eid alAdha, triggering widespread condemnation in the Islamic world. According to Swedish news agency TT, the same man was one of those who planned to burn the Quran on Thursday.

A similar protest by a far-right activist was held outside Turkey’s Embassy earlier this year, complicating Sweden’s efforts to convince Turkey to let it join NATO.

In June, protesters who support al-Sadr stormed the embassy in Baghdad during daylight hours over that Quran burning.

Another day of protests saw thousands of demonstrators on the streets in the country. Protesters then, as well as early Thursday, called on Iraqi officials to expel Sweden’s ambassador to Iraq.

Al-Sadr, the chameleonic son of a prominent Shiite cleric assassinated in a 1999 attack believed to be organized by Iraqi dictator Saddam Hussein, quickly organized Shiite dispossessed under Saddam against the American occupation after the 2003 USled invasion.

Saddam loyalists and Shiite extremists

alike would soon fight an insurgency against the American forces. Al-Sadr’s Mahdi Army militia fought American forces throughout much of 2004 in Baghdad and other cities. Al-Sadr’s forces are believed to have later taken part in the sectarian killings between Shiites and Sunnis that plagued Iraq for several years after the bombing of one of the holiest sites in Shiite Islam.

Since that time much has changed.

Al-Sadr’s followers have taken part in Iraqi military offensives against the Islamic State group in Tikrit and other cities. He has organized rallies against government corruption, including breaching the fortified Green Zone in Baghdad, the highly secure area housing government offices and many foreign embassies.

He claimed he would bow out of politics last August, following a nearly yearlong deadlock in the formation of a new Cabinet. His party won the largest share of seats in the October 2021 parliamentary elections, but not enough to secure a majority government.

T he Associated Press writers Abby Sewell in Beirut, Jon Gambrell in Dubai, United Arab Emirates, Karl Ritter in Stockholm, Jari Tanner in Helsinki, Finland and Qassim Abdul-Zahra

to this report.

RICHARD COOPER’S phone is something of an early alarm bell for the global economy. Lately, it’s been ringing a lot.

contributed

PROTESTERS scale a wall at the Swedish Embassy in Baghdad on Thursday, July 20, 2023. Protesters angered by the planned burning of a copy of the Quran stormed the embassy early Thursday, breaking into the compound and lighting a small fire. AP/ALI JABAR

Green light to demand world-class service

The National economic and Development Authority Board, chaired by President Marcos, early this year approved seven “high impact” projects, three of which would be funded through official development assistance and one under the publicprivate partnership (PPP) scheme. These projects include the P6billion University of the Philippines-Philippine General hospital (UP-PGh) Cancer Center—the first PPP-funded project under the Marcos administration. The high-rise cancer center will have 300 beds, divided equally between charity beds and private beds.

Given the government’s limited funds to bankroll big infrastructure projects, the Marcos administration is on the right track seeking private investors to finance PPP projects—such as hospitals, airports, tollways, social infrastructure and others—and allowing them to collect fees from users during the duration of the contract.

Risk is defined in financial terms as the chance that an investment’s actual gains will differ from an expected outcome or return. To enhance capitalization of our infra needs, more PPP investors are needed. For that to succeed, however, government must cease being a risk factor for investments. For example, all the contracts for the private sector to invest in tollways contain provisions for escalating toll charges to cover rising maintenance costs. More often, however, the approval of toll fee hikes is delayed—not by months but by years, which imposes added financing costs for the investors.

The recent North Luzon Expressway rate increase is a good example. The Toll Regulatory Board (TRB) approved in June the toll rate adjustment for Nlex, which should have been approved a decade ago. The new rates, which underwent thorough regulatory reviews and approvals, were part of the authorized Nlex periodic adjustments due in 2012, 2014, 2018 and 2020.

Finance Secretary Benjamin Diokno said “the Nlex rate increase is for staggered implementation—not a one-time implementation. It is staggered over several years.”

Diokno explained: “The toll increase piled up because of the inaction of previous administrations. The Marcos administration had to act on petitions from 2010.”

He said the toll board allowed Nlex Corp. to implement the last tranche of the 2012 and 2014 periodic toll rate adjustments. On the other hand, only half of the 2018 and 2020 provisionally approved periodic toll rate adjustments were approved amid existing inflationary concerns and to cushion the impact on the users of the expressway.

Nonetheless, public utility jeepneys under the Pasada Pass and the Tsuper Card Discount and rebate program will continue to pay old toll rates.

The finance chief said the government needs to honor and implement its obligations with the private sector if it is to secure more investments, especially as it is promoting public-private partnership projects. “The government will have no credibility as a partner if it does not comply with its contractual obligations under past PPP contracts,” he said.

Diokno issued the statement to allay concerns that the toll increase was not carefully studied. “The [toll hike] petitions were carefully studied and analyzed. They were approved objectively and fairly,” he said.

The Alliance of Concerned Truck Owners and Organizations earlier claimed that the toll increase was not justified. They added that ACTOO was neither informed nor consulted about the adjustment.

The TRB, however, said that prior to the adjustment, meetings and dialogues were held with different stakeholders, including the national and local governments, transport groups, communities and the media.

Former UK Prime Minister Tony Blair: “We know the problems, and we know the solution: sustainable development. The issue is the political will.”

It takes political will for government leaders to make the right but unpopular decision. We commend the Marcos administration for taking the bull by the horns in the Nlex toll rate adjustment issue. What people don’t realize is that government inaction in its contractual obligation to adjust toll rates results in delayed improvements and poorer services.

Ultimately, the President has given the green light for motorists and travellers passing through the expressway to demand world-class service from the Nlex operator. Any kind of excuse is no longer acceptable.

Setting standards in support of Filipino competitiveness

sonny M. angara

Better Days

IN 2018, a Philippine Institute for Development Studies (PIDS) study entitled “Obstacles and enablers of Internationalization of Philippine SMes Through Participation in Global Value Chains” identified the challenges that hinder our small and medium enterprises from becoming more globally competitive. It is crucial to determine the pain points of the sector especially since, based on the 2021 Philippine Statistics Authority data, micro, small and medium enterprises account for 99.58 percent of all businesses operating in the Philippines. Based on the same data from PSA, MSMes generated close to 5.5 million jobs representing 64.67 percent of the overall employment in the country. Thus, for years, the government’s goal has always been to create an enabling environment for MSMes, not only to allow them to sustain their operations, but also to upscale in terms of overall productivity and market reach.

Among the challenges identified by the PIDS study, which have generally been discussed and are being steadily addressed over the years, are the issues relating to: access to finance; access to technology; access to market; business environment; ease of doing business; among others. PIDS also identified the lack of a national quality infrastructure

On

products, services, and processes meet prescribed standards, has kept many of our Filipino companies from penetrating international markets and becoming part of global value chains.

(NQI) as a factor that keeps our SMEs from growing into export-ready businesses. The lack of a NQI, which refers to policy, legal, regulatory, and administrative frameworks, and the institutional arrangements to implement standardization, accreditation, and the totality of the testing, certification, and measurement necessary to provide acceptable evidence that

This is something that should be addressed immediately especially since the country has been moving towards having a more active role in globalization. In fact, during the 2023 National MSME Summit by the Department of Trade and Industry (DTI), President Ferdinand Marcos—in his speech delivered by Executive Secretary and former Chief Justice Lucas Bersamin—emphasized the need to ensure that MSMEs are able to grow, flourish, and compete globally. Unfortunately, based on the 2021 data from the International Trade Center assessment, the Philippines has been missing out as the country has an unrealized export potential worth $49 billion or around P2.6 trillion. A significant portion of this amount can be attributed to the failure of a product, service or process standards to meet the acceptable quality of the market.

While our government has several institutions, bureaus, and laboratories wherein business can avail of accreditation, certification, and

inflation and trade openness

through the exportation of products based on comparative advantage— specialization of production based on lower opportunity cost.

The rising domestic prices amidst the country’s greater trade involvement is an interesting case study following the tradeinflation debate in literature. Some argue, including the study of Kwark and Lim (2020), that the expansion of low-priced Chinese exports that are produced using cheap labor has contributed to the stabilization of both global and domestic prices. The earlier studies of Romer (1993) and Lane (1997) agree that greater openness could drive down domestic inflation. They believe that the influx of imported products would minimize the cost of production, and eventually lowers inflation. Nair and eapen (2015) discover that importing of food-items could stabilize domestic prices in India, which faced a supply-driven inflation similar to the Philippines.

There are two debates in the trade openness and inflation interplay. Hardouvelis (1992), Romer (1993), Lane (1997), Sachsida, Carneiro, and Loureiro (2003) and Kwark and Lim (2020) agree that importation can reduce inflation and make it less volatile. The influx of imported goods, coupled with the necessary mechanisms to offset the external risks associated with greater integration (i.e., independent central banks, stable exchange rate, free-trade agreements, the likes), could effectively reduce inflation at home.

The recent study by Kwark and Lim (2020) discovers that the expansion of foreign trade (i.e., more trade openness) has created relatively low-priced

imported goods, which, in turn, have stabilized domestic prices. Their paper attributes the stable price changes to an important institutional trend that most countries have adopted in recent years. The rise of free-trade agreements (FTAs) has made a decisive contribution to the expansion of trade. Their paper further explains that, ideally, FTAs include tariff reduction (or elimination) and the dismantling of other trade barriers, which could directly reduce the price of imported goods and contribute to the stabilization of consumer prices (i.e., if imports were expanded). Furthermore, they have also argued that trade expansion has also affected the domestic prices

Nayyar and Sen (1994) and Watson (2016) claim otherwise: that greater trade openness increases domestic inflation. Integrating the domestic economy to the world market exposes the country to external risks and more volatility. The influx of additional imported items would also encourage domestic producers to adjust prices frequently—creating more price instability. Josling et al (2020) believe that a higher income, due to more openness, would increase preference to non-food items. In other words, an increase in income shifts a person’s expenditure pattern away from necessities. The proportion of one’s income spent on food remains relatively the same through time. So, a sudden income change encourages a consumer to spend more on items other than food. In effect, the cost of food production faces more pressure, which could lead to inflation.

Gingrich and Garber (2010) claim that the openness-inflation interplay depends on the context of a country, while the relationship is commodity-specific for Chand (2010). The impact of liberalization is more pronounced in Costa Rica than in El Salvador because of several factors. According to their study, Costa Rica’s economy was more stable and relatively advanced when its liberalization reforms began, while an intense civil conflict just ended in El Salvador at the onset of its liberalization reforms. The Costa Rican government is even more patient as it gradually implemented re-

testing, these are spread out across the bureaucracy, which, in effect, makes it difficult for SMEs to have frictionless transactions. In fact, PIDS noted that our country has “too many regulatory bodies that are not housed under one unit making it confusing and difficult for SMEs.”

This is why we in Congress have filed measures that would address this challenge by developing a National Quality Policy defining the Philippine National Quality Infrastructure. I, along with Senate Majority Floor Leader Joel Villanueva, filed Senate Bill No. 628 while Senator Jinggoy Estrada filed Senate Bill No. 793 for this purpose.

Under the proposed measures, the Philippine National Quality Policy will be developed and the Philippine National Quality Infrastructure will be defined with the goal of enhancing the quality of goods and services available in the domestic market as well as those intended for export; and ensuring the availability, accessibility, and affordability of quality infrastructure services such as those related to accreditation, calibration, certification, conformity assessment, metrology, standardization and testing. In order to achieve this,

See

forms to prepare its key industries, while El Salvador leap-froged the process and implemented reforms rapidly.

Finally, Chand (2010) discovers that imports failed to cool down domestic prices of other food commodities like wheat, rice, sugar, pulses, and eggs/meat/ fish because of commodity specific reasons. Some commodities face sporadic shortages in the domestic market; there are commodities that do not have private houses that facilitate its importation; there is a strict regulation on import for that commodity; there is a delay in announcement (i.e., in case of policy changes) to facilitate imports; and a lot more commodity specific factors that created further restrictions to the ability of private players to proceed to quick importation. In other words, Chand (2010) argues that importation could reduce domestic prices if the private sector enjoys a more enabling environment to facilitate greater trade openness.

The effects of trade openness to inflation in the Philippines remain ambiguous. The government has been using the importation of rice and other basic commodities as one of their strategies to arrest inflation. Its exact contribution, however, remains an interesting case study to explore.

Is the actual relationship of trade openness and inflation in the Philippines similar to El Salvador or Costa Rica? Are we expecting commodity-specific results like those observed in India?

Mr. Jhon Louie B. Sabal is a graduate student at the Ateneo de Manila University and the former Chairperson of the Department of Economics of Xavier University-Ateneo de Cagayan.

Jhon Louie B. sabal

Zoe Gabriel’s relativity of luxury

uxury means different things to other people.” These were the words of 17-year-old Zoe Gabriel in a TV interview on

Headstart a few months back.

In January this year, Zoe, who goes by the handle @zohtaco on TikTok, posted a video of herself unboxing a Charles & Keith from her father and described it as her first “luxury bag.” The post was uploaded to show her appreciation of the gift, but all hell broke loose when she described it as a “luxury bag.” It cost S$80 (80 Singapore dollars) or roughly P3,500.

The post, which has garnered 23.6 million views to date, has apparently generated sarcasm, disdain and hate from some luxury brand watchers. Both haters and supporters weighed in on what constitutes luxury in the over 41,000 comments. Needless to say, the post went viral.

That brings us to the question: What is luxury and, specifically, what is a “luxury bag”?

The Corator, an Indonesian website about brands and people, came out with a Luxury Bag Brand Guide based on Danielle Alleres’ tiers—the latter being an “author specializing on luxury knowledge.”

First is ACCESSIBLE, or what I often refer to as affordable luxury, where Michael Kors, Marc by Marc Jacobs, Kate Spade, Longchamp, Furla and Tory Burch, among others, fall under. Notice that Charles & Keith does not even make the grade in this category, and it is only the first of three levels.

Second comes LUXURY that is further split into three categories, but we won’t go there. Louis Vuitton, Prada, Gucci, Goyard, Dior, Celine, Loewe, Fendi, Bottega Veneta, Burberry and the likes belong here.

Then we go to SUPREME LUXURY, where Hermes and Chanel bags belong.

The luxury handbag business is big. Data Bridge Market Research estimated it at $22.61 billion in 2021, and predicted it would further rise to about $42.48 billion by 2029.

How does that translate into actual prices? A Chanel Maxi Flap now costs P612,000. At the same time, a Hermes Birkin 35 cm retails at P625,000, assuming you can directly get one from a Hermes shop, which is nearly impossible for ordinary mortals. That means a minimum wage earner will have to work for three straight years and not spend on anything else to raise that amount just to avail herself of one supreme luxury arm candy. I know—these bags do exist as well as the desire to acquire them.

Angara . . .

continued from A14

our bill provides for the creation of the Philippine National Quality Infrastructure Coordination Council (PNQICC) to be co-chaired by the secretaries of DTI and the Department of Science and Technology (DOST), which will be mandated to adopt the aforementioned policy and ensure cohesion by NQI institutions in the delivery of NQI services. Moreover, all the existing public NQI institutions in various government agencies will be harmonized under the direction of the PNQICC.

It is our belief that through the measure that will institutionalize our National Quality Policy and define our NQI, the country will strengthen our culture of quality and safety thereby empowering our SMEs to be more confident and assured that their products and serv-

Losing languages

Tito Genova Valiente

annoTaTions

In one of the poems of Jerry Gracio, a poet who is able to fuse grit, grace and rawness without missing a heartbeat, I met an old friend I have not seen for a long time, a word I have almost forgotten. The poem is titled Paglanat The word is lanat

The poem says: Nalánat ak pirmi kun nadulhog si Nanay pa-Catarman. Nahaya kun ginbabayaan.

Ginbabaktas ko an dalan nga ginagian san sarakyan…

In my approximation in the English language, it says:

We have a myriad of reasons to buy these bags. A Birkin by Hermes, considered the Holy Grail by bag collectors, is said to be a better investment than gold based on a 2020 report by Knight Frank. Other motives include longevity, authenticity and a reward for hard work. However, putting people who carry affordable bags down is definitely not one of them—at least from the people I know who have leveled up to the supreme luxury tier.

Which brings us back to Zoe’s qualification of her Charles & Keith S$80 bag—is it really a luxury bag?

To the haters that descended on her TikTok account with vitriolic comments, it is not (although the negative comments no longer exist the last time I checked). The 17-year-old was able to put them in place. It is all situational.

Zoe did not have to wax poetic about consumerism, brand perception or luxury marketing. She responded honestly.

“We didn’t grow up having a lot, so 80 [Singapore] dollars was a big value to me. That is why I called it a luxury bag,” said Zoe in one of her interviews. There—straight from the heart and from personal life experience—the 17-year-old taught us a lesson on relativity in its purest, simplest form. What is expensive for me may not be for you.

Charles & Keith reached out to Zoe just days after her post and rewarded her with gifts from the brand, a tour of the head office and the opportunity to meet the founders who also came from humble beginnings. It is worth noting that in 2011, Louis Vuitton Moët Hennessy (LVMH) acquired a 20-percent stake in the company, which the founders later bought back.

Zoe did not gloat about the support she got from Charles & Keith and from other supporters. She remained collected, humble and kept the controversial post uploaded because she learned many lessons from it.

For us watching all these things unfold, there is one more lesson we can cull. The only absolute, indisputable meaning of luxury relates to our lack of it when it comes to time. Life is short and whether you are carrying a Charles & Keith bag or croc skin Hermes Birkin, neither can be taken to your grave. So let’s be kind to one another—it will not cost you anything.

ices are indeed export-ready. PIDS, DTI and DOST have expressed their support for the measure while the United Nations Industrial Development Organization (UNIDO), which has long been advocating for the establishment of the NQI, has pledged to work with the Senate in further strengthening the measure. With the resumption of sessions in Congress, we look forward to discussing this measure in plenary especially since this is among my priority measures under our longstanding “Tatak Pinoy” advocacy for building a more productive, more innovative, and more globally-competitive economy for all Filipinos.

Senator Sonny Angara has been in public service for 18 years—9 years as Representative of the Lone District of Aurora, and 9 as Senator. He has authored, co-authored, and sponsored more than 330 laws. He is currently serving his second term in the Senate.

I always run after Mother when she goes to Catarman. I cry when I am left behind

I walk the road traversed by the bus…

These two lines introduce the memories of the stories that the poet encounters when he follows his mother—he remembers what happened during the war with Japan, of enchantment. There are tales of what the poet’s father has also experienced: gigantic figures, shapeshifters, and many others.

The poem is gripping but my mind has a separate agenda. It is about the title, the Paglanat, the Paghabol, the running after, the act of following a person who has gone ahead in terms of departure and travel, which caught my attention. It was a word that my mind has not viewed for a long time. Luck and love were on my side—I recognized the word as soon as I saw it.

I have not heard the word for more than a decade now. In our household, there was only one person who would use the word, and that was Mama. She was the Bisaya in our blood. Although her roots can be traced back to Sorsogon, which is part of mainland Bikol, she was born in Ticao Island, in Masbate, an area that is politically part of the Bikol region but in identification has always been Bisaya. In language, literature and songs.

Mama, however, had passed on. And some years before her death, she had ceased to be articulate in her first language. Many of her immediate loved ones have passed on —her parents, aunts, her best friends from high school. The children had all grown up; one had preceded her and Papa. There was no more occasion for the word “paglanat” to be of

ways, run after our Mother. Carlo, the youngest of the boys would be the aggressive one, running after the calesa when our mother and our aunts would leave for the Centro. He could follow the path. For Lanat in our first language, which is Tigaonon, is a movement forward that has inside it the clue of where the travel would bring the person running after or following another. In other words, when our youngest brother ran into the street to follow our mother, he would always find her. This is my memory of the word.

In Jerry Gracio’s poem, I see the boy going home without the mother who had taken the bus. The tears in the boy’s heart we can only imagine. Paglanat may sound as if one has been left behind but it is a word that has an assurance of completion with happiness, a resolution to a journey, a re-union.

the heart of one’s childhood, another word came back unbidden, pag-abayaw. Recalling, we see paglanat as the distinct cousin to pag-abayaw, this feeling of sadness, just sadness, and a bit of longing, in a child who, suddenly looks up from what he is doing (playing, reading, taking a nap, eating his favorite cake), and sees his mother or father gone, or about to go. He runs after them even though he knows he will not catch them or if he did, he will remain in sadness because he is not on the list of those who could go with Mama or Papa. Or, it could be a sudden wail, or outburst of tears.

Children, or those young enough, feel that their world is only safe when it is tethered around the strong arms of the mother or the father that would engage in pag-abayaw The word and the act, however, can be outgrown. The children leave the home. The mothers and fathers stay at home and long for the children who had gone on to see the fortunes in the bigger world.

The paglanat assumes a different meaning, or cloth itself with a warm but bittersweet nuance. In that enchanting surrender of the last line in Gracio’s poetry, this appears: Paglinanat sa mga kasingkasing nga pirmi kit’ babayaan. In running after the hearts that would always leave us.

currency in the home. I was not even sure then if she would still remember the word.

Lanat or paglanat , however, is a word that I have always linked to her as a young mother with us, her children even younger. Just like Jerry Gracio who would trace the journey of his mother, and cry in the process, we too would, in varied

Chancing upon the word, lanat, a word that, I thought, was not anymore in my memory, other words began their journeys back to my mind. How reassuring it is to discover (even as we knew about this predisposition in the human seeking kinship) that this process in remembering can be summoned by a poem, and a word in that poem. With lanat crystallized in

In my case, I am left with a crisis: with the speakers of the language I consider my first, the one that has helped me understand the universe around, gone, what happens with my sense of departure? Shall there be other words to supply me with how to find a heart that seeks no more, or a mind that is resigned to a world that is slowly, gradually bidding farewell?

Note: In my apprehension of Gracio’s poetry, I was reading it from the eye and mind of the Tigaonon language even as I was aware of the Waray and Samarnon language involved in the said work.

E-mail: titovaliente@yahoo.com

Indian truckers eye electric as one way to tackle pollution

By Satviki Sanjay

IndIA, the world’s most polluted country after Bangladesh, has a truck-sized problem to tackle if it wants to meet its climate goals: a greener commercial fleet in order to limit emissions that account for a third of the nation’s dirty vehicle smoke.

It’s an opportunity Ashok Leyland Ltd., Asia’s fourth-largest truck maker, is keen to pounce on.

“You will start seeing, over the next six to 12 months, the first set of our battery electric vehicles coming into the field,” Chief Technology Officer N. Saravanan said in an interview earlier this month. The company won’t have a “big bang launch that says it’s going EV,” but will roll out multiple models in small volumes, he said.

Last month, Ashok Leyland announced plans to build autonomous electric trucks for Indian ports. It’s also partnering with Adani Enterprises Ltd. and Reliance Industries Ltd. to launch hydrogen fuel cell vehicles, and is investing 12 billion rupees ($146 million) in its electrical vehicle subsidiary Switch Mobility.

“You’ll see continued seeding and development of hydrogen internal combustion engines with Reliance,” Saravanan said.

India, the world’s fifth-largest economy, depends on roads to transport 70 percent of its goods. With increasing urbanization and growing consumer demand, the number of trucks needed is expected to more than quadruple by 2050, raising climate concerns. Yet the shift to cleaner vehicles won’t be easy—the higher price of electric versus diesel trucks and a lack of charging infrastructure are large impediments, particularly for the small fleet operators who own most of India’s trucks.

“They disproportionately con-

tribute to climate change,” said Samhita Shiledar, manager at US-based clean energy think tank RMI’s India program. “The scale of opportunity is very high” considering the industry is the “biggest decarbonization attempt India has right now” to meet its climate goals.

India has pledged to cut emissions to net zero by 2070. It has also committed to reducing the emissions intensity of its gross domestic product by 45 percent by 2030. Widespread zero-emission truck adoption could reduce annual trucking carbon fumes by almost half by 2050, according to RMI.

India’s largest truck maker, Tata Motors Ltd., which already has a small electric truck on the market, unveiled several long-range prototypes in January. China’s BYD Co. has reportedly shipped several trucks to the Adani group for its ports. Startups such as InfraPrime Logistics, Olectra Greentech Ltd., and Triton EV have all announced they are developing electric models.

On Wednesday, 15 companies including Amazon.com Inc., Nestle SA and India’s Aditya Birla Group joined forces to advance the electrification of the nation’s truck fleet, announcing several pilot projects and signaling demand for more than 7,700 etrucks by 2030.

While the potential is large, the existing market is tiny. China and parts of Europe saw electric van and truck sales double in 2022 from a year earlier, according to data analyzed by BNEF. India, on the

India, the world’s fifth-largest economy, depends on roads to transport 70 percent of its goods. With increasing urbanization and growing consumer demand, the number of trucks needed is expected to more than quadruple by 2050, raising climate concerns. Yet the shift to cleaner vehicles won’t be easy—the higher price of electric versus diesel trucks and a lack of charging infrastructure are large impediments, particularly for the small fleet operators who own most of India’s trucks.

other hand, has only a fraction of raw materials needed to fulfill the demand for batteries and has only recently launched a pilot project for hydrogen-based vehicles.

Moreover, the vast nation has just one charger for every 135 electric vehicles, while the global average stands at one charger around 20 EVs. With no standard charging technology and most infrastructures in India catering to two and three-wheelers, it may be some time before truckers are willing to abandon their dieselfueled vehicles.

The upfront cost of an electric truck is also higher than a diesel truck—even though operating costs are lower—another factor deterring new buyers. Manufactures may therefore need to look for new ways to sell their models.

“The market is evolving from purely ownership-based models more toward leasing and financing and looking for innovative ways of structuring the purchase,” said Rahul Mishra, partner at global consulting firm Kearney Inc.

Overcoming those hurdles needs more investment, which will only

come with increased demand for electric trucks.

“It is almost like a chicken and egg problem,” said Maynie Yun Ling Yang, a commercial transport analyst at BloombergNEF. But government subsidies, regulations, and corporate sustainability mandates are key for the clean jump, she says.

India is one of the countries where sales of large trucks are forecast to increase the most globally between 2023 and 2040 according to BNEF. This has stakeholders calling for policies to boost the production of clean trucks.

And while the national government has a 100 billion rupee subsidy program to boost uptake of two- and three-wheelers, passenger cars and electric buses, and Indian states have separate EV policies, none include truck-related guidelines.

Organizations like the International Council for Clean Transportation are pushing for change.

“There is a global shift away from internal combustion engines,” said Amit Bhatt, the India head of ICCT. “But you need someone to stimulate demand.” The best agency to do so is the government, he said.

Some of his suggestions are to focus incentives on trucking operations within Delhi to maximize air quality benefits, encourage the deployment of high-powered charging infrastructure to generate interest from private businesses, and exempt these vehicles and manufacturers from some of the many taxes levied in the state.

Falling technology costs and government support point to a rapid expansion of clean truck sales in coming years.

“It’s only a matter of time before we catch up,” said Ashok Leyland’s Saravanan. “We’re not that far behind.” Bloomberg

3-4-decade PHL construction boom seen

By Cai U. Ordinario @caiordinario

I n the mid-year economic briefing of the First Metro Investment Corp-UA&P Capital Market Research held virtually on Wednesday, UA&P economist Victor A. Abola said the projects that are ongoing right now are just the tip of the iceberg.

A bola said the construction and housing boom could go full swing starting next year. The growth in construction and housing will be underpinned by the government’s goal of closing the 6-million backlog in housing projects.

“

We will see it in full swing by next year and in the years to come. Housing and construction will be on an upswing for the next, I would say, three decades or four decades.

So we’re just seeing the beginning of this construction boom,” Abola said. T his will also be driven by the

creation of the P500-billion worth fund that mimics the United States’ Fannie Mae type of secondary mortgage.

T his is part of the Pambansang Pabahay program of the administration which aims to build 1 million houses per year in the medium term.

Part of these efforts is the recent issuance of Executive Order 34 which allows the use of idle government land for housing purposes.

The allocation of idle government lands for housing will further bolster the ongoing nationwide implementation of Pambansang Pabahay para sa Pilipino Housing (4PH) program,” Housing Secretary Jose Rizalino Acuzar said in a statement on Wednesday.

“Ang kakulangan ng lupang mapagtatayuan ng disente at abot-kayang

A bola also noted that businesses have a more positive outlook for the second semester of 2023, especially with inflation trending downward, nearing the targets set by the Bangko Sentral ng Pilipinas (BSP).

I nflation, Abola said, could average 5.5 percent this year. This is still above the 2 to 4 percent target of BSP but inflation is expected to get back to target by the last quarter of the year.

He said the peso is also expected to settle at P56 to P58 to the dollar by year-end while the Gross International Reserves could reach $102 billion by the end of 2023.

T he country’s industry and services sector are expected to post above 6 percent growth this year at 6.2 percent and 6.7 percent, respectively.

Regional outlook

THE Asian Development Bank (ADB) on Wednesday released its Asian Development Outlook (ADO) for July where it maintained its growth forecast for the Philippine economy this year and next year.

T he ADB said the country’s GDP growth is still expected to average 6 percent this year and 6.2 percent next year. Inflation is seen to average 6.2 percent this year and 4 percent next year.

The GCG in Action: Unlocking GCG potential for positive change

THE Philippines could experience a construction and housing boom that may last three to four decades, according to an economist from the University of Asia and the Pacific (UA&P).

NEW SENATE SITE Past and present Senate leaders converged for the topping-off ceremony of the New Senate Building in Fort Bonifacio, Taguig City, on Thursday, July 20, 2023. Former Senate President Vicente Sotto III and former Senator, now House Deputy Speaker Ralph Recto joined current Senate President Juan Miguel Zubiri, Senate Majority Leader Joel Villanueva, and Senator Nancy Binay, Chair of the Committee on Accounts and leading the construction coordination efforts. Story on page A4, Nation. CONTRIBUTED PHOTO

Arnulfo “Wick” Veloso, President and General Manager, GSIS

Rolando Macasaet, President and CEO, SSS

Jovy Bernabe, Acting Head and CEO, Philippine Crop Insurance Corp.

Emmanuel “Mandy” R. Ledesma Jr., President and CEO, PhilHealth

Justice Alex L. Quiroz (ret.), Chairperson, GCG

Atty. Gideon D. V. Mortel, GCG Commissioner

Atty. Geraldine Marie Berberabe-Martinez, GCG Commissioner

pabahay ay isa po sa mga hamon na ating kinakaharap ngayon [The lack of available land where decent and affordable housing could be built is the biggest challenge for the sector right now],” he added.

Editor: Jennifer A. Ng

Friday, July 21, 2023

7-11 operator to spend ₧4B

By VG Cabuag @villygc

Lawrence M. de Leon, Philippine

Seven head of finance, said the capex would mainly be used to expand its store network by an additional 400 branches.

De Leon said so far they have opened 150 stores, mostly outside Metro Manila. Philippine Seven closed 2022 with 3,393 stores.

The company is also working to have half of its store network franchised.

Philippine Seven CEo Jose Victor

P. Paterno said business had been resilient amid the recent challenging years with the company already back to its pre-pandemic figures during the first three months of the year.

“But so far based on our latest filing, which is the first quarter of this year, sales remain to be resilient when it comes to average sales per store per day. And as our CEo pointed out, so profitability for the first three months of 2023 already exceeded 2019 pre-pandemic level,”

de Leon said. Paterno said the company expects 2023 to be another record year with the current year being an inflection point for the company as it reaps the benefit of investments done over the years, even during the pandemic period.

“First quarter is a record first quarter. And we believe 2023 will be a very much record year,” he said.

In particular, Paterno said the company had been integrating artificial intelligence in its process since 2018.

“ we find ourselves in a situation where geographic shifts in demand have fortuitously opened up opportunities to expand in areas beyond the current reach of competition. our market development plan will be implemented as we recognize the growing customer preference towards innovation, proximity, and convenience,” Paterno said.

At the current store count, about 52 percent are corporate-owned, while 48 percent are franchise-op-

erated. Total new stores opened for the year 2022 reached 353 against 33 closures. This was higher compared to the 164 new stores opened and 69 closures in 2021.

“The company was able to refresh the convenience store concept postpandemic, while remaining true to the time-tested goodwill attached to the 7-Eleven brand. This allowed Philippine Seven to move one step closer in fulfilling its mission of making daily lives easier by providing modern convenience,” Philippine Seven chairman independent director Jose T. Pardo.

For its ATM, the company as of end of 2022 has a total of 2,322 ATMs activated in Metro Manila and the rest of Luzon including 148 ATMs in Cebu and 82 ATMs in Davao. This translates to a 68-percent coverage and is expected to expand further as ATMs will be deployed in the underserved segment of the market.

Shares of Philippine Seven was last traded at P88 apiece.

A Brown unit to build ‘healthy living space’

ABrown Co. Inc. said its real estate arm is focusing on sustainable living as the company sees a rising demand for healthier living spaces.

A Brown President robertino E. Pizarro said the company is committed to developing “environmentfriendly” and low-density communities.

r e cord breaking real estate sales affirms the shift of the company’s thrust to both vertical and horizontal healthy living conditions as the current mar-

ket demand,” Pizarro said. “The market mindset has changed and our buyers are choosing to spend more for a healthier environment.” VG Cabuag

B1

Pr ESIDEnT Ferdinand r Marcos Jr. led in welcoming the inaugural train ride on July 19 of the 4th generation Light r a il Vehicles (LrVs) of the Light r a il Transit Line 1 (LrT-1) at the LrT-1 Baclaran Depot. Ambassador Koshikawa Kazuhiko and Transportation

Secretary Jaime J. Bautista also took part in the ceremony to commemorate this first ride.

In his message, Koshikawa expressed the great value of the ceremony to the bilateral ties of Japan and the Philippines.

“Today’s ceremony is undeniable proof that the strategic partnership between Japan and the Philippines cannot be deterred, even amid the pandemic,” Koshikawa said. “ we expect these cutting-edge train coaches

to provide the commuting public with faster, safer, more comfortable, and more reliable rides throughout the city.”

The Ambassador also underlined that Japan continues to stand with the Philippines in advancing strategic infrastructure development in sync with the Philippine government to “Build Better More”, and ensure the undaunted fulfillment of our infrastructure goals.

The provision of 120 new light rail train sets forms part of the “Capacity Enhancement of Mass Transit Systems in Metro Manila Project” funded by the Government of Japan through the Japan International Cooperation Agency (JICA), in support of the LrT-1 Cavite Extension Project.

PHILIPPINE Seven Corp., which operates 7-11 convenience stores in the country, said it will spend between P3.5 billion and P4 billion in capital expenditures this year to expand its network to reach close to 3,800.

Globe eyes new prepaid fiber product for more revenues

By Lorenz S. Marasigan @lorenzmarasigan

In a spot interview at the sidelines of the launch of GFiber Prepaid, Globe Vice-President for Brand Management and Broadband Business

Raymond Policarpio told reporters that the new service is aimed at capturing the larger D and E markets.

“[The opportunity for] prepaid fiber is huge. The penetration right now for total Philippines is skewed towards the A, B, C market [that] is highly saturated at 78 percent already—that’s just around 30 percent of the Philippine households. The 70 percent of the household are the D and E market, which remains at 26 percent [penetration].There is a huge demand for it given the use cases,” he said.

Policarpio noted that the group is “betting on” GFiber Prepaid “to be the future for the Globe at Home

Business.”

“Right now, bulk of existing base is postpaid. What we’re trying to target here is greenfield. We’ll be getting a lot of new entrants in the fiber market—acquisitions new to the category,” he said.

In fact, Globe expects the prepaid broadband segment to outpace the postpaid broadband market. Policarpio explained that the group is bullish that it can replicate what Globe achieved in the early 2010s, when the mobile prepaid market outgrew the postpaid market.

Today, the prepaid mobile segment contributes about 60 percent to 70 percent of the total revenues of Globe.

“We’re betting on it to be the next future thing,” Policarpio said. “Given the scale of the market, yes [prepaid

will outpace postpaid].”

Globe unveiled on Thursday the “first all-digital prepaid broadband” product in the market, offering prepaid broadband services for as low as P299 with an upfront fee of P1,499.

“The ideal ARPU [average revenue per user] will be in the range of P700

Petron redeems capital securities

PETRON Corp. has fully redeemed the remaining outstanding senior perpetual capital securities worth $477.53 million issued in 2018.

“Following such redemption, distributions will cease to accrue as of the step update and the redeemed securities will be cancelled and delisted from the Singapore Exchange Securities Trading Unlimited,” read the country’s lone oil refiner’s disclosure to the stock exchange Thursday.

The redemption, it added, was partly funded by using the proceeds from its 2023 offering and issuance of its series 4 preferred shares.

Last week, Petron said it raised P14 billion from perpetual preferred shares offering. The initial base offer of P12.5 billion was oversubscribed by P1.5 billion, af-

firming the positive and continued support of institutional and retail investors.

“We’re grateful and at the same time, humbled by the strong response of the investment community. Results such as this move us to pursue projects that will ensure our growth and sustainability in the long haul,” Petron President Ramon S. Ang said.

The amount raised was used to redeem the senior perpetual capital securities.

Petron has partnered with China Bank Capital Corp. as sole issue manager, and Bank of Commerce, China Bank Capital Corp., Philippine Commercial Capital Inc., PNB Capital and Investment Corp., and SB Capital Investment Corp. as joint lead underwriters and joint bookrunners. Lenie Lectura

Shell PHL goes into recycling

By Roderick L. Abad @rodrik_28

Contributor

to P900—that would be healthy for us,” he said.

The most expensive GFiber Prepaid service stands at P999 for an unlimited Internet connection at home for a month.

SHELL Pilipinas Corp. (formerly Pilipinas Shell Petroleum Corp.) announced it is going into a recycling project.

The firm recently launched its “Shell Lube Recycle” wherein customers are encouraged to drop off their used lubricant bottles and pails, as well as other plastics into bins installed in collection sites. These sites are located in automobile workshops and car dealers in Quezon City, Pampanga (Clark), Valenzuela City, Laguna, Pasig City, and Bacoor, Cavite. The company announced having entered into a partnership with Green Antz Builders Inc. (Gabi) to reduce plastic waste and promote sustainability nationwide. The project aims to recover and recycle waste into other materials like eco-bricks. The latter can be used for construction of houses and commercial buildings. Shell Pilipinas did so at its station in Plaridel, Bulacan, that was launched in 2021.

“We recognize the need for a fundamental shift in our approach to waste production and management, which inspired our [recycling] program with [Gabi]. Let’s help create a more sustainable future for the next generations to come by converting plastic waste into something more meaningful and useful,” Shell Pilipinas Vice-President for Lubricants Jacqueline B. Famorca said during the signing of a Memorandum of Agreement with Gabi at Taguig City.

“Green Antz has maintained a longstanding partnership with Shell Pilipinas Corporation (SPC), sharing a common vision for sustainability. We are more excited than ever to embark on this significant undertaking, strengthening our ties with SPC through its Shell Lubricants Business. We look forward to taking another step towards furthering our shared goals in the sustainability realm in the country,” added Gabi founder and CEO Rommel Benig.

Shell Pilipinas said its recycling project is in line with the Extended Producer Responsibility (EPR) Law.

According to Shell Lubricants Asia-Pacific Inc. Vice President Mansi Tripathy, the firm’s Philippine business aspires to deliver high-performance products, with lower carbon footprint through waste reduction and more circular solutions.

Tripathy added that the firm is committed to increase the amount of recycled content in its products packaging to 30 percent and ensuring that all packaging is reusable or recyclable by design by 2030.

The goal to mitigate carbon emissions is in line with Shell Pilipinas’s overarching commitment to become a net-zero emission business by 2050, the firm added.

This Thursday, July 20, 2023, photo shows (from left) Globe Telecom inc. (pse: GlO) Vice president for brand management broadband business Group raymond policarpio, president and ceO ernest l cu and broadband business senior Advisor Danny Theseira at the ceremonial topping of light signaling during the launch of the firm’s GFiber prepaid product at the Globe Tower office in bonifacio Global city, Taguig city. Photo by Roy DoMINGo

GLOBE Telecom Inc. is banking on its newly-launched prepaid fiber broadband product to drive more revenues into the company; an executive calling it the “future” for its broadband vertical.

DMW warns OFWs vs incurring too much debt

By Samuel P. Medenilla @sam_medenilla

THE Department of Migrant Workers (DMW) on Wednesday warned overseas Filipino workers (OFWs) against incurring unpaid debt abroad since it can land them in jail.

“A message we can make in this briefing is for our OFWs to be very mindful of the debts they incur and because the punishment for it in their host country is very, very strict and harsh,” DMW Undersecretary Hans J. Cacdac said in a press conference.

He cited the case of the Kingdom of Saudi Arabia (KSA), where the law allows imprisonment for those who incur unpaid debts.

The DMW official issued the statement after reporting the Saudi government recently allowed the repatriation of four overseas Filipino workers (OFWs) with unpaid debts.

In a statement, DMW said the OFWs were imprisoned over debts they incurred for vehicle purchases.

One of the OFWs was imprisoned for five years, while the remaining three were detained for three years.

Cacdac said they provided aid to the concerned OFWs following their return to the country.

“They have been home for two days already. We provided financial assistance and continue to provide the reintegration assistance,” Cacdac said.

“We had a discussion about seeking employment, we will provide them employment facilitation assistance. With respect to their children, we are helping them keep themselves in school,” he added.

CIC backs SEC on FC, LC compliance with CISA

THE Credit Information Corporation (CIC), the country’s sole public credit registry and repository of credit information, is fully geared up to process the Submitting Entity (SE) registration of the 103 financing and lending companies (FCs and LCs) operating online lending platforms (OLPs), following a July 6, 2023 order of the Securities and Exchange Commission (SEC).

The Order reiterates that FCs and LCs operating OLPs must comply with Republic Act No. 9510 or Credit Information System Act, which mandates all financial institutions providing credit facilities to register and submit the basic credit data of their borrowers to CIC.

“With the SEC Order in place, we are expecting a sharp decrease in the use of abusive debt collection practices by lenders, as registration with CIC paves the way for them to access the comprehensive CIC database for data-driven credit-decisioning and risk-based lending,” CIC President and CEO Ben Joshua A. Baltazar said.

To date, 39 of the 142 OLPs reported to the SEC by its registered FCs and LCs are already submitting data to the CIC. Further, 25 already accessed the CIC database to establish their borrowers’ creditworthiness.

FCs and LCs have until August 5 to comply and register with the CIC. Noncompliance may result in SEC sanctions such as the suspension or revocation of the Certificate of Authority to Operate as a Financing or Lending Company.

The SEC Order was issued following complaints lodged with various government agencies against erring FCs and LCs employing abusive debt collection practices which violate the provisions of SEC Memorandum Circular No. 18 series of 2019 or the Prohibition on Unfair Debt Collection Practices of FCs and LCs.

BILL IMPOSES LIFE TERM, P5-M FINE ON PERPETRATORS

‘Online fraud is economic sabotage’

By Jovee Marie N. dela Cruz @joveemarie

Bicol Saro Partylist Rep. Brian Raymund Yamsuan said he filed House Bill 7976 classifying these online fraudulent schemes as acts of economic sabotage to send a strong message to criminals who exploit technology for unlawful gain.

“The measure will hopefully deter the commission of these crimes that have continued to proliferate as we usher in the digital economy,” Yamsuan said.

Yamsuan said the shift to digital transactions, which accelerated during the pandemic, has emboldened cybercriminals.

He cited Bangko Sentral ng

Pilipinas (BSP) data showing that an estimated P2 billion may have been lost to phishing, hacking and other forms of online fraud from 2019 to 2021.

Under House Bill 7976, phishing and other fraudulent activities perpetrated in bulk using information and communications technology (ICT) are deemed to have a “deleterious effect on the economy,” which makes these a “form of economic sabotage and a heinous crime, and shall be punishable to the maximum level allowed by law.”

According to the BSP, complaints related to the use of internet banking

Associations and magic

AS a child and even now as a senior, I have always been fascinated by magic. I guess it’s because magic, with its many dimensions, represents a deep and enduring human attraction with the unknown, the mysterious and the possibilities that lie beyond our daily life.

So, it interested me to watch on TED Talk “My Secret to Creating Real Magic” by Christina Tosi, an award-winning chef and founder of US-based sweet shop Milk Bar. Christina’s definition of magic or “real magic,” as she calls it, is different in a way. She describes it as “the feeling when life transforms from the ordinary into the extraordinary.” From this viewpoint, I thought that this kind of magic would resonate with associations. Here are some ways associations can learn from the essence of magic:

Using the Power of Symbols: Symbols carry deep meaning and evoke emotions, transcending language barriers and cultural differences. Associations can harness this power by embracing symbolic language and employing visual representations that resonate with their members. Logos, icons, and emblems can become potent symbols that embody the association’s values and aspirations, forging a stronger sense of identity and unity among members. Creating Rituals and Ceremonies: Magic often employs rituals and ceremonies to invoke a sense

of awe, focus intention, and connect with a higher purpose. Associations can adopt this practice by incorporating rituals and ceremonies into their events and activities. Opening ceremonies, awards ceremonies, or even regular rituals before meetings can create a sense of anticipation and engage members on a deeper level.

Cultivating Collective Intentions: In magic, interrelation of symbols with specific intentions are believed to influence the desired outcome. Similarly, associations can harness the power of collective intention by aligning members around a common purpose. Regular communication, strategic planning sessions, and collaborative decision-making processes can help associations channel the collective intention of their members.

Embracing Archetypes and Storytelling: Magic often draws upon archetypes, universal patterns of human behavior and symbolism, to convey deeper meanings. Associations can learn from this by tapping into archetypes and employing storytelling techniques. The power of storytelling can engage members on an emotional level, making the

and mobile banking accounted for 45.2 percent of total complaints to the agency in 2021. Reports of hacking and other malware attacks leaped by 2,324 percent in 2020 compared to the previous year, while phishing and other similar schemes increased 302 percent.

Yamsuan said HB 7976 aims to prevent these forms of cybercrime by amending Republic Act 10175 or the Cybercrime Prevention Act by including a section on economic sabotage, and defining this as any offense perpetrated in bulk using email, mass

association’s purpose more relatable and compelling.

Balancing Tradition and Innovation: Magic, much like associations, exists within a rich tapestry of tradition and innovation. Associations can benefit from this balance by honoring their traditions while embracing innovation. By respecting the past and the wisdom it holds, associations can remain grounded, while incorporating new ideas and technologies to stay relevant and appeal to a wider audience.

Emphasizing the Experience: Magic is not solely about the outcome; it is also about the experience: the sense of wonder, mystery, and transformation. Associations can enhance their impact by focusing on creating meaningful experiences for their members. Engaging events, immersive learning opportunities, and interactive platforms can help associations foster a sense of wonder and leave a lasting impression.

Just as magic has fascinated humanity for centuries, associations can captivate their members by tapping into the power of symbolism and intention, transforming their endeavors into something truly extraordinary.

Octavio Peralta is currently the executive director of the Global Compact Network Philippines and founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” E-mail: bobby@ pcaae.org

mailer, “or any service, software or other method of delivery calculated to utilize the massive reach of the internet to reach a maximum number of victims, pursuant to phishing or other similar fraudulent scheme”.

Phishing under the bill is described as a social engineering scheme to obtain or attempt to obtain sensitive information “by disguising as a trustworthy entity in an electronic communication for the purpose of illegally accessing a victim’s online account for financial gain.”

Such sensitive information in-

clude usernames, passwords, bank account details, credit card, debit card, and e-wallet details.

“Any person found guilty of an offense that constitutes economic sabotage...shall be punished with life imprisonment and a fine of not less than one million pesos (P1,000,000.00) but not more than five million pesos (P5,000,000.00),” the bill states.

The bill is also authored by Camarines Sur 2nd District Representative LRay Villafuerte.

From 2020 to 2021, the BSP received 42,456 complaints from consumers who fell victim to financial fraud.

The Philippine National Police (PNP) received reports of fewer text scams this year compared to 2022 following the implementation of the SIM Registration Act. However, financial crimes such as “click-thelink” scams using SIM cards and involving electronic wallets like GCash, Maya, and Coins.ph rose by 190 percent from January to June of 2023.

The PNP said the resolution rate involving these crimes went up from 70 percent in 202 to 95 percent for the first half of this year.

Vet PPP projects well to ensure reasonable pricing, returns–Recto

ADEPUTY speaker on Thursday called for public hearings on public-private partnership (PPP) projects.

Deputy Speaker and Batangas Rep. Ralph G. Recto, in a statement, said pay-per-use public infrastructure, such as roads and airports, should be affordable to end users, and must be considered—and even disclosed—from the outset.

“When determining how much to charge for tolls, fares, or use of these infrastructures, it should be done up front rather than later, and only the public will be informed when it’s done,” he said.

In considering PPP projects, willingness-to-pay surveys and consultations must be done exhaustively, Recto added.

“There should be public consultations. Feasibility studies should include ability-to-pay data. And this must be highlighted in disclosures. Not reduced to a fine print, nor hidden,” he said.

The same “sensitivity to consumers” should cover information technology projects, which Recto described as a “boom industry in the bureaucracy.”

He said “reasonable pricing” for the use of infrastructure projects is a must “to allow low-income groups to enjoy it. Otherwise, if priced too high, it defeats the objective of in-

clusivity.”

Recto said fees, tolls, charges and other payments must be calibrated carefully “because too high will be a barrier to some users, while setting it too low might result in taxpayer subsidies.”

The former senator was referring to qualified cases of viability gap funding when a shortfall in the number of users triggered the contractual obligation of the government to shoulder the difference.

“To be clear, proponents have the right to reasonable returns. For investing in projects the government should have undertaken, they are entitled to earnings. Because without their investment, the funding will be taken from the national budget, and it will eat up the funds for social services,” he said.

In disclosing the projected payment for use, the amount can be “minimum of this amount first, which is better than leaving it blank or keeping it a secret.”

“And people would have no qualms [about] paying if they see that the benefits outweigh the cost, as in the case of many PPP projects,” he said.

Recto said the use of PPP projects should be priced the way they are built—“under the sun.” Jovee Marie N. Dela Cruz

LandBank, GSIS data sharing deal provides faster banking experience

AS part of the national government’s digitalization drive, the Land Bank of the Philippines (LandBank) and the Government Service Insurance System (GSIS) signed a Data Sharing Agreement to provide a more efficient and seamless banking experience to GSIS members.

Under the Agreement, GSIS will share its members’ data with LandBank to enhance the delivery of banking services, which includes real-time crediting of benefit claims, loans, and other proceeds for over 1.5-million GSIS members who maintain accounts with the bank.

The collaboration will likewise allow members of the state pension fund to receive their LandBank Visa Debit Cards within the same day of card enrolment at the GSIS Main Of-

fice in Pasay City. Through the LandBank Cards, members will be able to conveniently receive and withdraw their claims and proceeds from GSIS.

“This Agreement further builds upon the partnership of LandBank and GSIS to streamline processes and enhance operational efficiency for the benefit of GSIS members.

We fully support the digitalization journey of GSIS by attending to their banking requirements with innovative solutions,” said LandBank President and CEO Lynette V. Ortiz.

The signing of the Agreement on July 17 was led by LandBank President Ortiz and GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso. They were joined by GSIS Vice President and Data Protection Officer Jonathan Pineda and

LandBank senior officers, including Executive Vice President Liduvino S. Geron, Senior Vice President Ramon R. Monteloyola, GSIS Branch

Head Manuel A. Dimalaluan, and Data Protection Officer Atty. Rhys S. Abundabar. “With this Agreement, our stake-

holders are assured that their private, confidential information are safe and secure with us. They can be assured we will protect their data privacy, and their sensitive information, along with their financial data,” said GSIS President Wick Veloso, speaking partly in Filipino. Also covered by the Data Sharing Agreement are other pipeline projects utilizing LandBank’s digital banking products for GSIS-related transactions, including the integration of LandBank to GSIS Touch – the official mobile application of GSIS. LandBank and GSIS are also working together to accommodate online payments for rent and other fees under the GSIS Ginhawa For All Lease with Option to Buy (GFAL LWOB) Program through the LandBank Link.BizPortal, the Bank’s webbased payment facility.

WITH cases of phishing and other forms of online fraud on the rise, a lawmaker has proposed that these crimes be classified as acts of economic sabotage punishable with life imprisonment and a fine of up to P5 million.

Why guys who post a lot on social media are seen as less manly

BY ANDREW EDELBLUM University of Dayton

FOR better or worse, much of life is categorized along gendered lines: Clothing stores have sections for men and women, certain foods are considered more manly or more feminine, and even drinks can take on a gendered sheen (“manmosa,” anyone?).

Our newly published research finds that even social media is a canvas for rigid gender stereotyping. Specifically, we show that men who post often on social media are seen as feminine, a phenomenon we refer to as the “frequent-posting femininity stereotype.” We observed this bias in four experiments featuring over 1,300 respondents from the US and UK.

To post is to be seen as unmanly

AS consumer behavior researchers, we have long been interested in the contradictions, peculiarities, and restrictions associated with masculinity. These dynamics have far-reaching implications in the world of marketing. It is widely known, for example, that Coke Zero was created as an alternative to Diet Coke, a product that men notoriously shied away from for its perceived ties to women who wanted to lose weight. There’s even a tendency for people to think it is unmanly to sleep more, because needing rest is connected to being weak and vulnerable.

We thought about how some of these notions might come into play on social media. Polling data suggests that men and women use social media platforms in very different ways: For example, men tend to be on fewer platforms overall and don’t post as often as women on apps like Instagram.

We wondered if gender biases had anything to do with why. Are men judged harshly when they share on social media?

To test this question, we ran a series of experiments in which respondents were asked to evaluate a “normal, average, ordinary” man who either frequently or rarely posts on social media. To provide a more concrete picture, we described the man as someone who posts online for fun and has a moderate number of followers.

Respondents consistently rated the man as more feminine when he was described as a frequent social media poster. This was true regardless of assumptions made about the man’s age, education, wealth, and preferred social media platform. We also controlled for the gender, age, political beliefs and social media use of the people who participated in the study.

Notably, we used an identical scenario to describe a woman’s posting behavior—and post frequency had no effect on how feminine people thought she was.

An aversion to appearing needy

WHAT, then, explains this somewhat unusual effect?

We discovered that anyone who frequently posts, regardless of their gender, comes across as a person who seeks attention and validation. But this projected sense of neediness only translates to perceived femininity in men.

This makes sense. After all, research has shown that rejecting femininity is crucial to conventional notions of manhood, while avoiding masculinity is not necessarily crucial to conventional womanhood. Indeed, ads, TV shows, movies, and music continue

TODAY’S

By Eugenia Last

CELEBRITIES BORN ON THIS

DAY: Juno Temple, 34; Justin Bartha, 45; Josh Hartnett, 45; Jon Lovitz, 66. HAPPY BIRTHDAY: Set yourself up for advancement. Learn all you can, develop your skills and reach out to those who can answer your questions. Take the initiative and channel your energy into learning, traveling and taking more interest in what others are doing. These interactions will be your ticket to information that sparks your imagination and points you in a positive direction. Leave no stone unturned. Your numbers are 7, 18, 23, 27, 32, 38, 46.

to reinforce ideas that men be resolutely stoic and self-sufficient. Our results indicate that by posting frequently online, men come across as the opposite.

Not only that, but the “frequent-posting femininity stereotype” effect turned out to be even more stubborn than we expected.

Two of our experiments attempted, but ultimately failed to curb this bias.

First, we examined whether men were judged differently when sharing content about others as opposed to themselves—the idea being that this form of posting behavior would come across as considerate and not as validation-seeking. Second, we examined whether male influencers—who post largely for professional reasons—faced the same stereotype.

In both cases—and to our surprise—frequent posting caused participants to see these social media users as more feminine.

Broadening the definition of manhood

THERE’S a lot we don’t know about this unique prejudice.

For example, it’s unclear to what degree the frequent-posting femininity stereotype affects how men are judged in different cultures. While men around the world are often considered less masculine when they appear needy, our research only included participants from the UK and US.

The

Just as critical: How can the connection between frequent posting and femininity be broken altogether? Our research suggests that this link is durable and reflects persistent gender dynamics.

Still, it’s worth exploring how platforms can curb this prejudice through their design. For example, BeReal is an app that prompts users to quickly share an unedited photo snapshot of what they’re doing at a random time throughout the day. Functions like these seem to emphasize authenticity, routine and community. Is this the recipe that’s needed to change the association between posting and validationseeking?

Notably, men are experiencing historic rates of social isolation and facing dire mental health consequences. This health crisis is likely exacerbated by pervasive biases that make men feel like they can’t talk about their problems or ask for help. The frequent-posting femininity stereotype reveals another instance in which men are judged for attempting to express themselves and build social connections.

As New York Times correspondent Claire Cain Miller wrote in 2018, there are “many ways to be a girl but one way to be a boy,” both in Western cultures and around the world.

What will it take for that rigid definition of manhood to be broadened? THE CONVERSATION

your situation and map out your best route to victory. The less you reveal about your plans, the easier it will be to forge ahead. Channel your energy into taking the necessary precautions while pushing your way to the top. ★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Pace yourself and question the sources you are getting your information from before you make a move. Don’t disregard your intelligence or ability to see through others. Trust your instincts and work by yourself. Learn from experience and how others treat you. ★★

CAPRICORN (Dec. 22-Jan. 19): Stop secondguessing yourself and take a stance. Opportunity is apparent, but there will be plenty of diversions and hurdles to jump along the way. Be sensitive to what others are experiencing, but don’t pay for mistakes that don’t belong to you. ★★★★★

AQUARIUS (Jan. 20-Feb. 18): Participate in events that connect you to people who can offer insight into something you want to pursue. Partnerships will experience problems if intentions and honesty are left unspoken. Simplify matters by using common sense, integrity and truth. ★★★

PISCES (Feb. 19-March 20): Follow your heart regarding your passions. Be creative, unique and ready to conquer the world. Stop dreaming and start acting; progress will motivate you to finish the journey you mapped out for yourself. ★★★

BIRTHDAY BABY:

‘cool head’ BY EMILY CARROLL

Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit

Solution

Teaching science

CAN science teach? Yes, it can. While we teach science; science can teach us as well. With a lot of help from communicators who do not believe in mystification, and networks that promote shows where people learn to listen because to do so is to survive.

NHK World Japan, the international broadcasting service of NHK, shows us how science and scientists can bring their knowledge right into our living rooms, in the lives of our communities. Through their presentation, which is premised in the country being besieged always by natural disasters, brief documentaries are developed to cover issues like earthquake and flooding.

The Japanese have a term for this idea that one can prepare for any calamity; they call it “bosai”—disaster preparedness. No disaster is big enough if one is prepared. In this situation, the authorities craft plans to help communities arm themselves not only with knowledge but also with structures. This TV program is titled Bosai. Science that can save your life.

The power of this series is in its simple format. There is no attempt to make science “sexy” because in a world that faces destruction, the true imperative is action. The presentation begins with an overview of the issue and its location. The host comes in, who is, in this case, an actress and model (perhaps a nod to popular accessibility), Lemi Duncan. She is AmericanJapanese, with an enviable fluency in Nihongo and English. Armed with the right question, she brings in a scientist who, either by good editing or guidance from a consultant, speaks in a comprehensible language.

Typical of Japanese talk shows, this NHK World program has charts and tables.

Two series I really learned from were on the great flooding that once affected Western Japan, around Okayama prefecture and the soil liquefaction that took place on March 11, 2011, the Great East Japan Earthquake.

Remember, Typhoon Haiyan? Outside of its massive destruction, its contribution to our knowledge about storms and typhoons was the phenomenon of a “storm surge.” Those who were in the Tacloban area didn’t understand why the sea

ON July 26, GMA Public Affairs presents its first-ever film offering, The Cheating Game, featuring two of the country’s highly talented artists Julie Anne San Jose and Rayver Cruz.

A feverish, deep-dive into the psyche of two individuals who react differently to betrayal, The Cheating Game is a romantic drama about the game people play after getting cheated on. It shows a more mature, relatable, and realistic side to modern-day dating.

The film follows the story of Hope (Julie), an idealistic young professional who thinks she can change the world.

Hope is devoted to her fiance and the nongovernmental organization (NGO) they’ve built together. Then, a sex video of her boyfriend with another woman surfaces. Heartbroken, Hope walks away from the engagement, the NGO, and the life she thought was hers. She starts her new career as a content producer in a company that, unknown to her, moonlights as a troll factory. Determined to never be outsmarted by a guy again, she designs

entered the city and towns. It was too late for us to know that there was such a thing as a storm surge, or storm tide, which is defined by scientists as a rise in the water happening during typhoons.

In the Okayama flooding, a simple question: What caused the flooding began our lessons about our surroundings. The scientist talks about a river and its tributary and orients us about the phenomenon called “backflow.”

Through a diagram, the scientist talks about how a rise in the water along the main body of the river can block the flow of its tributaries, leading to the smaller body of water to flow back into the areas where homes were located. This whole process sounds simple as I relate it now, but did we ever have this explanation clarified in the Philippine setting?

The second question posed by the host was:

“What happened when the water rose?” Should we even ask that question? Isn’t the answer pretty obvious? Apparently not. The question of water rising has to be explained in detail. In this case, the scientist underscoring not only the rising of the water but, more importantly, the speed with which it accumulated fast. That is significant knowledge insofar as the Okayama experience is concerned. And in the clear ex-post-facto study done, it was scary to realize how the floodwater rose to 2 meters in 10 minutes. Well, it did not give much time for the people to evacuate.

The value-added elements in the NHK World Japan documentary are the simulations expertly conducted after each dire occurrence. While in our country, the knee-jerk reaction is to blame each other, the

a ‘cheat sheet’ detailing the ‘anatomy of a cheater’ and uses this as her guide as she navigates her way around the dating world.

She then meets Miguel (Rayver), a self-made businessman who exudes green flags for a partner. Hope seems to have found the perfect guy. But as they become closer, long-kept secrets begin to surface.

Julie and Rayver, called by fans as “JulieVer,” are happy that finally their first movie will be shown on the big screen soon. “We started shooting it before the pandemic, we shot some scenes in the province, then tinuloy lang namin this year. Ang surreal pa rin kasi napakabilis talaga ng panahon,” shares Julie, who adds that she welcomes working with Rayver again, but this time for a movie.

“Kasi usually nakikita kami ng mga tao sa The Clash, All-Out Sunday, sa performances, hosting. This time, as actors naman kami Excited din ako to work with Martin (Del Rosario), Winwyn (Marquz), along with the rest of the cast. It’s a breath of fresh air. I’m very excited to show everyone

NOT IDEAL

SOMETIMES, you really can’t believe everything you see on social media. This actor, for instance, seems to be the ideal husband and father. But there are rumors that he is a womanizer, and that he’s cheated numerous times on his wife who he is said to love very much. Their wedding several years ago was a very big event. The actor and his wife, an actress, have kids. Their financial situation and family life seem to be stable. To be fair to the actor, he doesn’t maintain girlfriends on the side. He just has flings with starlets he works with, and this is awkward since these starlets also work with his wife sometimes. On more than one occasion, his wife has confronted the women her husband has had flings with. But the actor still does it over and over again.

BUSINESS ACUMEN

THIS woman has been called many names, among them mistress and social climber, but it can’t be denied, which she almost single-handedly made her partner’s business more successful. Before she and her partner got together, his business was doing okay, but it was her idea for him to be more high profile and make their lifestyle more aspirational. She was a actually ahead of her time when it came to this. She was already flaunting luxury items on social media long before it was fashionable to do so. She did this as part of her marketing strategy for the company.

Japanese answer to disaster is twofold: to simulate the conditions that gave rise to the observable facets of the crisis and the possible solution to them.

Simple but startling was the correlation done with the type of homes and the destruction that took place—a significant number of those who died were in single-level homes, and yet some were in two-storey homes. Why were not the people able to go up to the second floor? In the simulation, it was shown how the flood turns the furniture and other objects in the house, including the tatami, or the mat-like material, into a jumble. These objects block the persons trying to move to higher spaces, i.e., second floor.

What is the solution? A flood-proof house. There are also attempts to anchor the entire structure the way a boat is tethered to a post. This scenario may sound all-too incredible but the point is, there is a solution being proposed.

Another phenomenon articulated by another series in Bosai is that of soil liquefaction. When that Intensity 9 earthquake happened in 2011, roads located hundreds of kilometers from the epicenter up north were covered in water seeping from underground. But in other homes, the ground softened, leaving the houses built on top of it to tilt dangerously.

The investigation revealed the presence of groundwater: the closer the groundwater is to the surface (about 1 meter or a bit more), the greater the possibility for liquefaction to take place. This was not merely a laboratory observation; but a result of a study involving several households: where the groundwater was located 3 meters deeper, the liquefaction did not occur readily.

What was the solution? Push the groundwater deeper—from 1 meter to 3 meters or more. A group of workers using pipes started to systematically drain the groundwater after blocking certain portions of the area, and funneling them into canals and rivers. More importantly, the city assigned a person in charge of monitoring this liquefaction problem. How did I understand all this? Through a program talking to laypersons and not to experts. There are more episodes in the archive, and I cannot wait to learn from them. n

HE CAN’T DO LIVE

THE actor recently went viral for a performance that wasn’t even live and this was a surprise to people who have worked with him. It’s an open secret that he can’t sing and has a ghost singer. The ghost singer is supposedly someone who works with him regularly. So it is surprising that he would go on stage and lip-synch to his own voice when he has never done this. The actor has never pretended that he can sing. There are just work commitments that require him to do so. Maybe his ghost singer was unavailable when he was recording. Or maybe the ghost singer already got tired of doing it for free.

LOVE OR MONEY?

HOW true is the rumor that the actress is the new apple of the eye of a rich politician? The actress is no longer young, has been married before, and has kids. She also recently gotten out of a long term relationship. It’s not surprising that there actress would fall for someone rich. Her last relationship was about love—and look where that got her? Her former boyfriend still cheated on her. The actress will soon move to a bigger and more luxurious home, thanks to the politician. He normally goes for someone younger so people thought the actress wasn’t his type. But apparently, she is and he is reportedly very smitten with her.

doing it is a learning experience for me para maging aware ka how to handle being cheated. Lahat naman tayo, nabubulag kapag nagmahal tayo.

Also in the cast are Yayo Aguila, Candy Pangilinan, Phi Palmos, Thea Tolentino, and Paolo Contis. The film also features Charm Aranton, Chef Jose Sarasola, Charlize Ruth Reyes, Rocelyn Ordoñez, Aaron Maniego, Andrea So, Ida Sabido, Evan Tan, Roi Oriondo, Bernadette Anne Morales, Felds Cabagting, and Iman Manoguid.

what we did,” she adds. Rayver echoes Julie’s sentiments. Halo-halo ’yung emosyon na nararamdaman ko pero mas lamang ’yung excitement kasi makikita na ng tao ’yung pelikulang ginawa namin at talagang pinaganda namin ito nang husto. Very proud ako sa movie na ito, especially first project namin ito ni Julie together na isang movie,” he says. Viewers are definitely in for a different

JulieVer in The Cheating Game.

“If you watch this film...ibang Julie naman ang makikita ninyo rito. Mas daring, bolder, stronger. I feel like I had to take a leap of faith just like the rest of the cast,” shares Julie. “For me, cheating is nonnegotiable. Once it’s done, it’s done. But my major takeaway from this film is to forgive yourself.”

Rayver said he welcomed playing Miguel. “I enjoyed making the movie kasi

Produced by GMA Public Affairs under GMA Pictures, The Cheating Game is cowritten and directed by best-selling author Rod Marmol, who is known for his works Cuddle Weather, Mata Tapang, and Quaranthings, among others.

The film is based on the original concept and story by Peabody awardwinning documentary writer and producer Shao Masula, and cowritten by Jessie Villabrille, who is a head writer for some of the distinguished GMA primetime series.

Julie Anne, Rayver team up for GMA Public Affairs’ film debut ‘The Cheating Game’

BAYAD, BILLEASE PARTNER TO OFFER MORE PAYMENT OPTIONS

customers manage all their finances in one app,” said Georg Steiger, Chief Executive Officer and Co-Founder of BillEase.

EXECUTIVES of Bayad and BillEase meet for the signing of the partnership to enable customers to settle their bills in a more convenient way via installments. Seen in the photo are, from left, BillEase Head of Merchant Products Kurt Molina, BillEase CoFounder and Chief Financial Officer Ritche Weekun, Bayad

BAYAD , the pioneer brand in the outsourced payment collection system, has partnered with BillEase, a top-rated consumer finance app, to enable customers to settle their bills in a more convenient way via installments.

Under the partnership, users of the BillEase mobile app can now pay their bills through two cardless installment

The new feature is due to the integration of the Bayad bills payment feature in the BillEase mobile app, enabling a one-stop-shop service solution for its customers since they can now access over 100 billers covering electricity and water utilities, cable and internet, government contributions, loan payments, school tuition, online shopping, insurance, and many more.

Celebrity chef Jereme Leung

returns

to Conrad Hotel’s Legendary Chef Series

options namely Pay Later for expenses up to P1,000, and Pay Monthly over a period of three, six, nine, or 12 months for tickets with interest rates up to 3.49 percent.

“Our partnership with Bayad plays a pivotal role in the promotion of financial inclusion and digitalization in the country, as we enable accessible and convenient bills payment services that aim to help our

Bayad, a wholly owned unit of Manila Electric Co. (Meralco), has been proactively expanding its network of billers to provide greater financial inclusivity to the public, its President and CEO Lawrence Y. Ferrer said.

“We are one with BillEase in leveraging financial digitalization through our one-stop-shop payment solution. We are steadfast in bridging people and businesses as we continue to scale up our billers in the BillEase app,” he said.

MARINA gathers stakeholders in maritime sector; strengthens, refines MIDP 2028

HUNDREDS of key stakeholders from the maritime sector banded together during the National Validation Workshop for the Updated Maritime Industry Development Plan (MIDP) 2028 organized by the Maritime Industry Authority (MARINA) last July 13, 2023.

The workshop served as a platform to strengthen and refine the existing plans and programs outlined in the MIDP 2028. Participants actively engaged in updating and proposing additional projects across the eight established programs of the long-term plan. Additionally, attention was given to formulating a comprehensive legislative agenda, which could be effectively advocated in Congress.

According to Atty. Hernani Fabia, MARINA Administrator, the updated MIDP 2028 embodies the maritime sector’s multifaceted contribution to the nation’s aspirations, includ -

ing linking and invigorating various island-economies, fostering national integration amidst diversity, ensuring safety and security in maritime transport, providing professional seafarers to the global shipping industry, and stimulating competitiveness in the global economy.

Government agencies and private sector entities were present at the workshop, underscoring the collaborative nature of the event. By gathering key players from various sectors, MARINA aimed to ensure the active involvement and commitment of all stakeholders in shaping the future of the maritime industry in the Philippines.

The National Validation Workshop generated valuable insights and expertise, reinforcing MARINA’s confidence in the effectiveness of the updated MIDP 2028. Through collaboration with government agencies, private

sector, and other stakeholders, MARINA is well-positioned to drive the growth and development of the Philippine maritime sector, solidifying its standing on the global stage.

The significance of the MIDP 2028 lies in its imminent submission and presentation before Philippine President Ferdinand R. Marcos Jr. In February 2023, President Marcos affirmed his commitment to prioritize the maritime industry, recognizing its vital importance during the Philippine Maritime Industry Summit 2023.

MARINA remains steadfast in its commitment to implementing robust strategies and initiatives that strengthen the country’s maritime industry. Continued collaboration and concerted efforts will pave the way for the Philippines to become a leading maritime nation, fostering economic prosperity and establishing a sustainable and thriving maritime sector.

Townscapes Malvar named Mixed-Use Development of the Year during 2023 Real Estate Asia Awards

Pueblo de Oro Townscapes is engineered meticulously for clean energy, with homes crafted to capture natural light and wind. The project’s unique design improves energy efficiency by 20 precent and water efficiency by 51 percent. Moreover, it purposefully highlights the natural character of the property with its 50 percent-high allocation of open space and roads against the total land area.

HUNDREDS of key stakeholders from the maritime sector banded together during the National Validation Workshop for the Updated Maritime Industry Development Plan (MIDP) 2028 organized by the Maritime Industry Authority (MARINA) last July 13, 2023.

The workshop served as a platform to strengthen and refine the existing plans and programs outlined in the MIDP 2028. Participants actively engaged in updating and proposing additional projects across the eight established programs of the longterm plan. Additionally, attention was given to formulating a comprehensive legislative agenda, which could be effectively advocated in Congress.

According to Atty. Hernani Fabia, MARINA Administrator, the updated MIDP 2028 embodies the maritime sector’s multifaceted contribution to the nation’s aspirations, including linking and invigorating various island-economies, fostering national integration amidst diversity, ensuring safety and security in maritime transport, providing professional seafarers to the global shipping industry, and stimulating competitiveness in the global economy.

Government agencies and private sector entities were present at the workshop, underscoring the collaborative nature of

the event. By gathering key players from various sectors, MARINA aimed to ensure the active involvement and commitment of all stakeholders in shaping the future of the maritime industry in the Philippines.

The National Validation Workshop generated valuable insights and expertise, reinforcing MARINA’s confidence in the effectiveness of the updated MIDP 2028. Through collaboration with government agencies, private sector, and other stakeholders, MARINA is well-positioned to drive the growth and development of the Philippine maritime sector, solidifying its standing on the global stage. The significance of the MIDP 2028 lies in its imminent submission and presentation before Philippine President Ferdinand R. Marcos Jr. In February 2023, President Marcos affirmed his commitment to prioritize the maritime industry, recognizing its vital importance during the Philippine Maritime Industry Summit 2023. MARINA remains steadfast in its commitment to implementing robust strategies and initiatives that strengthen the country’s maritime industry. Continued collaboration and concerted efforts will pave the way for the Philippines to become a leading maritime nation, fostering economic prosperity and establishing a sustainable and thriving maritime sector.

Serenitea creates new limited edition drinks with iconic energy drink Red Bull

THIS July, Serenitea partners with iconic energy drink, Red Bull to create a new line of limited edition drinks that promises to refresh, invigorate and keep you active the entire day!

Berry Boost is for you. It features a delightful concoction of cranberry, lemon, and mint fruitea infused with Red Bull for that burst of refreshing energy.

PUEBLO de Oro Townscapes Malvar, an eco-friendly community in the emerging municipality of Malvar in Batangas developed by Pueblo de Oro Development Corporation (PDO), was named Mixed-Use Development of the Year during the 2023 Real Estate Asia Awards. The awards honor the most innovative real estate developments and laud industry players in Asia Pacific that

stand out in the market.

A “live-work-play-learn” sustainable development, Pueblo de Oro Townscapes is part of a 274-hectare mixed-use complex with four hectares of commercial area and a one-hectare educational hub. It is adjacent to a 232-hectare industrial park for light manufacturing developed by PDO’s sister company, Science Park of the Philippines.

Committed to excellence, PDO was successful in obtaining preliminary EDGE accreditation for this middleincome residential community. An innovation of the International Finance Corporation (IFC), EDGE is an internationally recognized green building certification system that focuses on resource efficiency in buildings.

Pueblo de Oro has been developing green townships and residential projects for almost three decades. Through these years, the company has achieved recognition for its high-quality, affordable, and innovative residential communities in booming areas like Cagayan de Oro; Malvar, Santo Tomas, and Lipa in Batangas; San Fernando, Pampanga, and Mactan in Cebu.

The exciting collaboration between Serenitea and Red Bull comes in three variants, namely Wintermelon Bull, Berry Boost, and Grapefruit Punch. Whether you’re looking for a sweet minty slush or a tangy fruity energy booster, these drinks have got you covered:

Variant 1: Wintermelon Bull

A REFRESHING slush that combines the sweetness of wintermelon with the invigorating taste of Red Bull. Topped with a lemon slice and fresh mint leaves, this drink will surely provide you with a revitalizing boost.

Variant 2: Berry Boost

FOR those seeking a fruity and tangy energy drink option, the

Variant 3: Grapefruit Punch

SERENITEA and Red Bull also offers the Grapefruit Punch: a blend of Red Bull, grapefruit green tea infused with tropical notes. It is a delicious combination of flavors that imparts an energizing kick to your day.

Priced at only P170 for a large sized cup, loyal Serenitea fans and Red Bull drinkers can enjoy the combination of Serenitea’s quality teas and Red Bull’s invigorating energy boost in one refreshing drink.

The Serenitea x Red Bull drink series will be available in all Serenitea branches nationwide from July 15, 2023 onwards and will also be sold on all our third party delivery channels like Grab and Food Panda.

President and CEO Lawrence Y. Ferrer, and Bayad Chief Commercial and Marketing Officer Dennis S. Gatuslao.

CELEBRITY chef Jereme Leung

IN the photo during the awarding ceremony at Marina Bay Sands Singapore are, from left, PDO vice president and controller Dennis Puno, PDO chairman and chief executive officer Guillermo Luchangco, Retail Asia & Real Estate Asia editor-inchief Tim Charlton, and PDO president and chief operating officer Prim Nolido.

Vingegaard drops Pogacar in final big test in Alps, nears Tour crown

COURCHEVEL, France—After destroying Tadej Pogacar in the race against the clock, Jonas Vingegaard dealt him the coup de grace in the Tour de France with an impressive display in the mountains on Wednesday.

V ingegaard is now well on course to bring the yellow jersey to Paris for a second straight year after the Danish rider took a huge lead over his main rival.

The defending champion dropped Pogacar in the last big stage in the Alps to increase his overall lead to seven minutes and 35 seconds.

B arring any big crash, he looks set to win his second Tour title.

Now to have more than seven minutes is just really incredible,”

Vingegaard said. “Of course the Tour de France is not over yet, I’m sure Tadej will try something on the last three stages. We’re not in Paris yet.”

V ingegaard finished the 17th stage in fourth place, almost six minutes before an exhausted Pogacar crossed the finish line.

The race ends in the French capital with a largely ceremonial stage on Sunday. There is just one tough stage remaining before then—on Saturday in the Alsace region, with the peloton facing a total of 3,600 meters of climbing.

But with such a big gap between the Tour’s main contenders, it’s unlikely to have an impact in the fight for the yellow jersey.

We are in a good spot now,” Vingegaard said.

Pogacar, a two-time champion who was dethroned by Vingegaard last year, lost contact about 16 kilometers from the finish at the ski resort of Courchevel.

The punishing trek had been dubbed the Queen Stage of this year’s Tour because of its daunting profile. The last of four climbs was a 28.4-kilometer slog up Col de la Loze, close to the uphill finish.

A d ay after Vingegaard destroyed the field in the race’s time trial, Pogacar did not find the strength to attack and got dropped in the monster climb. His teammate Marc Soler stayed with him to try and pace him back, in vain.

The day had started on a sour note for Pogacar, who crashed just a few kilometers into the 166-kilometer ride. The Slovenian leader of the UAE Team Emirates fell off at a moderate speed on an uphill section near the foot of the Col des Saisies after apparently touching the wheel of a rider.

Pogacar was quickly back on his bike and continued racing to rejoin the main contenders before a group of breakaway riders moved away from the pack.

Pogacar said the crash could have affected him but he did not try to find excuses.

It hurts a little, maybe it affected my body. I just couldn’t go today. It was not a good day,” he said. AP

Editor: Jun Lomibao

OBIENA NOW WORLD NO. 2

By Josef Ramos

ERNEST JOHN “EJ” OBIENA

was a whirlwind of a pole vaulter in a three week span—he broke the 6-meter barrier in June and five days ago, set a new record at the Asian championships in Thailand.

Now, he’s the world No. 2 pole vaulter—second behind Swede wonder Armand Duplantis—a feat no Filipino in athletics has ever done before.

Your very own skinny kid from Tondo, alumni of Chiang Kai-Shek College and University of Santo Tomas, is now world’s No. 2,” Obiena posted on his official social media account on Thursday.

A nd to think that almost exactly a year ago, Obiena became world No. 3 when he bagged bronze with a then Asian record 5.94 meters at the world championships in Eugene, Oregon, behind Duplantis and the US’s Chris Nilsen, who he dislodged at No. 2.

“ Thank you to everyone who made this possible, and my deepest gratitude to those who went to war so I could continue this dream,” Obiena added on Facebook. “This is not just my accomplishments alone, but everyone’s.”

The World Athletics’ men’s pole vault rankings had Olympic and world champion and world record holder Duplantis at No. 1 with 1,569 points,

Obiena next with 1,432 and Nilsen third with 1,428.

Nilsen, silver medalist in Tokyo, dropped one rung after failing to match or beat Obiena’s accomplishment in the ongoing outdoor season.

A fter joining the elite 6-meter club with his gold medal-winning performance at the Bergen Jump Challenge in Norway last June 12 to break his own continental standard, Obiena leapt 5.91 meters in running away with the Asian championships and area title in Bangkok only last Sunday.

A Filipino pole vaulter I have worked with for eight years now has just risen today to a world rank of No. 2,” Obiena’s personal adviser Jim Lafferty told BusinessMirror, “It’s a level never attained [in Philippines] and the concept is a bit mind-boggling.”

No other Asian is near the top of the world rankings with China’s Jie Yao occupying the No. 28 spot with 1,231 points, his best at 5.82 meters he set in a domestic competition in Hangzhou last June.

Obiena, 27, was also the first Filipino athlete to qualify for the Paris 2024 Olympics with his 5.82 meters— the Olympic qualifying base—last July 2 at the in Stockholm. He clinched silver behind Duplantis (6.05).

He is in Monte Carlo to for the Diamond League Monaco leg on Friday. There, he will square off anew with

Duplantis, Nilsen, No. 4 Sam Kendricks and KC Lightfoot of the US, Belgium’s Ben Broeders, France’s Thibaut Collet and Renaud Lavillenie, Norway’s Sondre Guttormsen and Pal Haugen Lillefose, Australia’s Kurtis Marschall and Germany’s Bo Kanda Lita Baehre.

R ankings of athletes are based on a computation of the World Athletics and these are published weekly or every Wednesday. Athletes get their points from specific tournaments like the world championships, Olympics, continental and regional games, among others.

The World Athletics retains the ultimate discretion to decide how and when ranking points are awarded.  All disciplines in athletics, including men’s pole vault, are being ranked except for relays.

The ranking method is composed of result scores being calculated by World Athletics Scoring Tables of Athletics plus placing score equals to performance scores. Placing scores can only be received in the final of a competition.

FILIPINAS KICK OFF FIFA WORLD CUP CAMPAIGN AGAINST SWITZERLAND

THE Filipinas—thoroughly prepared and properly motivated—make their highly-anticipated debut in the FIFA

Women’s World Cup on Friday as they open their campaign in Group A against Switzerland at the Forsyth Barr Stadium under expected nippy weather in Dunedin.

Despite being the overwhelming underdogs , they are expected to be in high spirits,  hoping that their grueling 18-month preparations will pay off against the La Nati in their 5 p.m. clash (1 p.m. in Manila time) at the 30,000-seat arena that was a site of the 2011 Rugby World Cup.

They arrived in Auckland, considered New Zealand’s wildlife capital, Thursday afternoon and were met by some Filipino expats at the Dunedin International Airport, the Philippine Embassy of New Zealand reported, posting pictures of the national women football team’s arrival on its Facebook account.

Currently ranked No. 46 in the FIFA women’s world rankings, Australian coach Alen Stajcic’s charges are not only facing a tough side 20 rungs above them but also will brace for the bone-chilling weather

Araneta sees modest goal vs Swiss gals

ADRAW Switzerland should augur well for the national women’s team’s debut in the FIFA Women’s World Cup in Auckland on Thursday, according to Philippine Football Federation president Mariano “Nonong” Araneta.

“They [Filipinas] really prepared and trained hard long enough and the players came here to win so I believe they will give their best,” Araneta told BusinessMirror on Thursday via internet call.

“Our modest goal? A draw will be good for us.” The world No. 46 Filipinas are facing the No. 20 Swiss at the Forsyth Barr Stadium.  Araneta said being in the World Cup is already an achievement but Araneta said the players have expressed their intention to book a victory in Group A.

“By being in the World Cup is already a huge achievement, but the players do not only want to be herem, but they want to win and not only show their faces,” he said. “They are all in high morale, in good spirits and optimistic. It’s going to be a great match.”

The Filipinas take on No. 26 New Zealand on Tuesday at the Wellington Stadium at 1:30 p.m. before concluding their Group A campaign with a 3 p.m. game against No. 12 Norway on July 30 at the Eden Park also in Auckland.

Europe, Asia and South America, the Filipinas won’t be  awestruck by the moment and enter the opening match with a nothing-to-lose attitude in the outing supported by the Philippine Sports Commission. A pparently peaking at the right moment, they enter the fray having won five of their last matches, their recent loss a 1-5 setback to Sweden in a closed-door unofficial friendly here last Monday when Stajcic likely held his players under a tight leash given the proximity of their first match.    I f anything, it will be the wards of German coach Inka Grings, making their second appearance in the football showcase, who  might feel the pressure, having lost their last seven matches since booking a World Cup ticket with tense

victory over Wales last October.

The outcome could hinge on how their skippers—Tahnai Annis for the Philippines and Switzerland’s Lia Waiti—are able to marshal their forces in controlling the  midfield to set the tone of the match.

Veteran midfielder Waiti, 30,  who plays for Arsenal Women’s Super League, keeps the Swiss engine running with her ball control  while Paris St. Germain striker Ramona Bachmann “should be Grings’ most important player,” according to the special World Cup edition of the Total Football

I believe in our team, I believe they can pull off some miracles here,” he said.

The Filipinas coached by Australian Alec Stajcic is composed of team captain Tahnai Annis, co-captain Hali Long, striker Serina Bolden, goalkeepers Olivia McDaniel, Kiara Fontanilla and Kaiya Jota, defenders Alicia Barker, Angela Beard, Reina Bonta, Malea Cesar, Jessika Cowart, Sofia Harrison, Hali Long and Dominique Randle, midfielders are Ryley Bugay, Anicka Castañeda, Sara Eggesvik, Quinley Quezada and Jaclyn Sawicki and forwards Isabella Flanigan, Carleigh Frilles, Katrina Guillou, Chandler McDaniel and Meryll Serrano. R eserves are goalkeeper Inna Palacios, Maya Alcantara and Isabella Pasion. Josef Ramos

other countries see action in inaugural SEA VLeague tourney

PETRO GAZZ went through the wringer for the third straight match, but unlike in its five-set defeat to Choco Mucho that ruined its semifinals drive, the Angels pulled through against the Akari Power Chargers, 25-19, 25-18, 20-25, 20-25, 15-7, to wind up ninth in the Premier Volleyball League Invitational Conference at the PhilSports Arena in Pasig City on Thursday.

Blowing a huge 2-0 set lead because of what coach Oliver Almadro described as her wards’ complacency, the Angels regrouped in the decider and raced to 5-1 on Aiza Pontillas’ three-hit binge and cruised to victory on Grethcel Soltones’s endgame exploits aided by the Power Chargers’ miscues.

Th at included a Lut Malaluan service error after the Power Chargers saved two match points on Soltones’ own errant serve and Faith Nisperos’s off-the-block hit for a 7-14 count, enabling the Angels to nail the victory in the Classification round after a runner-up finish in the AllFilipino Conference.

That’s what we reminded each other, let’s get this game. But you can’t count out Akari, which is a very talented team, well-coached and well-prepared,” Almadro said. “Good thing the girls got two straight sets. We’re happy with the contribution of everyone on the team.”

Foton, meanwhile, recovered from a second set blowout with a tough win in the third then warded off Gerflor’s late fightback to pound out a 26-24, 13-25, 25-21, 26-24 victory and finish 11th in the tournament. The Tornadoes blew three match points in the face of the Defenders’ strong

THE Philippines hosts the second of two legs of the inaugural Southeast Asia (SEA) VLeague men’s tournament from July 28 to 30 at the City of Santa Rosa Multi-Purpose Complex in Laguna.

The VLeague is a series for men and women indoor volleyball among the Philippines, Thailand, Indonesia and Vietnam and is affiliated with the Southeast Asia Volleyball Association.

“The VLeague aims to further strengthen and develop men’s volleyball in the region,” said Ramon “Tats”

Suzara, president of the organizing Philippine National Volleyball Federation, which is coming off a successful hosting of the Men’s Week 3 of the

Volleyball Nations League in Pasay City early this month.

The four countries are almost in equal footing in terms of rankings in the International Volleyball Federation or FIVB. Vietnam is the best-ranked men’s team at No. 56, Thailand at No. 58 followed closely by the Philippines at No. 59 and Indonesia at No. 68.

The SEA VLeague—a brainchild of Suzara and Thailand federation president Shanrit Wongprasert— opened in Jakarta on Thursday (July 20) with the Philippines taking on Indonesia in its debut match.

The City of Santa Rosa leg— presented by PLDT and primarily supported by the City of Santa Rosa, Philippine Olympic Committee, Philippine Sports Commission, One Sports and Cignal—wraps up the single-round elimination competition.

A separate women’s series will also be staged from August 4 to 6 in Vihn Phuc, Vietnam, and from August 11 to 13 in Chiangmai, Thailand.

BARRING any big crash, Jonas Vingegaard looks set to win his second Tour title. AP

SKIPPER Tahnai Annis and the Filipinas have a tough task ahead.

Motoring

HondaunveilsnewCityandnewBrio

by Randy S. Peregrino

HONDA Cars Philippines, Inc. (HCPI) recently unveiled two of its best-selling subcompact models—the New City with Honda Sensing and New Brio.

Held at the Mega Fashion Hall, SM Megamall, the launch was followed by a fourday display event for the public to see the freshly-updated models in the metal. None other than the HCPI’s president Rie Miyake presented the two updated models.

“We look forward to serving more customers with the New Honda City and the New Honda Brio. These new models demonstrate Honda’s dedication to providing more joy to customers through the advanced safety and innovative features they come with. Over the years, customers have come to appreciate the exceptional value and fuel efficiency of both models, allowing extra driving distance while minimizing environmental impact. Surpassing mere essentials, these best-selling models provide an enhanced driving experience with above-class engine power and features, premium interior comfort, and space in their distinct classy and sporty styles. Honda will always be dedicated to giving more joy and confidence to customers through our products, such as the new Honda City and new Honda Brio,” said Miyake.

Sportier with more tech, New City NOW sportier with more embellishments inside and out, one of the New City’s highlights is the inclusion of the brand’s proprietary Honda Sensing as a standard feature. According to HCPI, the New City will “Elevate Your Drive” through its refreshed look, additional color options, and a new variant catering to a broader audience.

Exterior-wise, the top-spec RS received a newly crafted RS-exclusive add-on, such as a designed front grille with an emblem and front/rear bumper with carbon-wrapped lower molding. As for headlamps, the RS gets LED Headlights, while the other variants have Halogen Projector Headlights. The LED Daytime Running Lights and Fog Lights are available across the board. All these are sup-

ported by Headlight Auto On/Off function with Auto Off Timer 15 seconds after the engine turns off—standard across all variants.

The New City still highlights its flank’s sharp horizontal character lines.

Also maintained are Power Adjustable

Door Mirrors (standard) and Power Folding

Door Mirrors with Integrated Side Turn Signal Lights (RS and V). The new Side Sill Garnish is exclusive to the RS, plus the newly designed sporty 16-inch Alloy wheels (Black Cut for RS and Silver Cut for V). On the other hand, both S and E variants received sets of 15-inch wheels (Silver Paint Alloy for S and Steel with Cover for E). At the back, the newly-designed rear bumper has a sporty carbon-wrapped diffuser. It also maintained its LED tail lights and High-Mount Stop Lamp, including the High Gloss Black-colored Trunk Spoiler (RS).

Inside, the New City highlights premium, functional, and spacious cabins. The current generation model continues to have better visibility, thanks to its updated windshield shape minimizing blind spots. The RS variant now gets newly designed full leather seats and Sport Pedals. New accents are Dark Red

Front Panel Garnish & High Gloss Black Interior Accents (RS) and High Gloss Black Front Panel Garnish & Silver Interior Accents (V).

The New City now has a new 4.2 Full Color TFT Meter with Red Ambient Light Instrument Cluster (RS) and a 4.2 Full Color TFT Meter with White & Green Ambient Light for the rest of the variants. The eight-inch Advanced Touchscreen Display Audio (RS, V, and S) now has an improved LCD and better reverse camera resolution. At the same time, Apple CarPlay and Android Auto are now wireless-operated (RS, V, and S).

The tried-and-tested 1.5-liter DOHC iVTEC engine is retained to a Continuously Variable Transmission (CVT). The gasoline motor remains the most powerful engine in its segment, with 119hp and 145 N-m of

torque. Notably, the New City achieved 22.2 kilometers per liter fuel economy ratings for all variants based on the latest UN-R101 Fuel Economy Testing for highway driving conditions. The test was conducted in a controlled environment in Tochigi, Japan.

As for safety, the New City maintained all its top-notch advanced safety features. There are four-standard airbags (all variants) and additional Side Curtain Airbags (RS). Moreover, there is the new Rear Seat Reminder and new Walk Away Auto Door Lock (RS and V variants). Honda SENSING safety features include Lead Car Departure Notification System (LCDN), Collision Mitigation Braking System (CMBS), Lane Keeping Assist System (LKAS), Road Departure Mitigation System with Lane Departure Warning (RDM with LDW), Adaptive Cruise Control (ACC), and Auto-High Beam (AHB). The New City has been awarded a 5-star rating in the latest

ASEAN NCAP testing (New Car Assessment Program for Southeast Asia).

The New City also offers optional Honda Genuine Accessories such as Front Accent Garnish, LED Fog Lights (for S and E variants), Trunk Tray, and Door Visor. Also available are Modulo brand’s 16x6J Alloy Wheel, Front Under Spoiler, Side Under Spoiler, Trunk Spoiler (Wing), and Rear Under Spoiler.

More stylish New Brio

SINCE its introduction in the Philippine market in 2014, over 30,000 has been sold, thanks to its strong following. HCPI claims that the latest generation gets more enhancements to cater to the diverse needs of first-time or alternative car buyers seeking style, comfort, and performance without compromising exceptional value and long-term reliability.

Exterior-wise, the more stylish New Brio has a newly designed Piano Black RS Design

New, bigger Wigo price a steal

BARELY a month after the All-New Innova aka Zenix was launched in Bohol through the iconic Toyota Road Trek 16, the Toyota Motor Philippines (TMP) unveiled the new generation Wigo. The country’s undisputed industry leader never ceases to amaze us. If the Zenix is the hybrid version of Innova, which is another breakthrough hop in technology, the new Wigo is another sky-high jump for TMP in the hatch-making business.

A s Shaina Semana puts it, the Wigo is known to be the family’s “preferred first car.”

She added, “The All-New Wigo features a bold redesign paired with improved technology and driving performance, reinforcing its position as the Filipinos’ reliable, practical, and easy to use mobility partner in starting any life journey.”

Six models of Wigo’s three variants became the cynosure of all eyes among eager-beaver mallers during the hatchback’s launch at the

Front Grille featuring a new design pattern with a bigger opening. It is complemented with All-LED Headlights (RS), freshly updated Fog Lights and newly designed Fog Light Garnish (RS), and Day Time Running Lights (RS and V variants). There are Crystal Black Door Mirrors with Power Folding and Adjustable feature and RS-design Side Sill Lower Garnish. The New Brio features a Tailgate Spoiler and RS-design Rear Bumper Lower Garnish and Tail Lights (RS) at the back. The New Brio rolls on updated 15-inch RS Design Alloy Wheels (RS), 14-inch Alloy Wheels (V), and 14-inch Steel with Cover Wheels (S). Honda’s A-segment hatchback now features Black Fabric Seats with Red Accents for RS variants. The seven-inch Capacitive Touchscreen Audio is a standard feature made more user-friendly with the new Audio Controls with Illumination (RS and V). Connectivity-wise, the RS Black Top, RS, and V variants all have Apple CarPlay, Android Auto, Bluetooth, USB Port, AM/FM, and Android Smartphone Mirroring, with 6-speaker audio setup (inclusive of additional two tweeters for the RS variants, and 4-speaker audio set up for V and S).

Retained is the 1.2 liter 4-cylinder SOHC i-VTEC engine generating 89hp and 119N-m of torque mated to a Continuously Variable Transmission (CVT). For those who prefer driving a manual, there is a five-speed M/T option (1.2 S MT Variant).

Safety-wise, the New Brio has standard features such as Driver and Front Passenger Airbags, Anti-lock Braking System (ABS) with Electronic Brake-Force Distribution, and Rear Parking Sensors. Speed Sensing Auto Door Locks (RS and V) and Power Windows with Auto Up/Down for the driver’s window (all variants) exist. Of course, Honda’s G-CON technology enhances impact absorption for added protection of passengers in the event of a collision.

Pricing and colors

THE New City 1.5 RS CVT Honda SENSING retails at P1.128 million, the 1.5 V CVT Honda SENSING at P1.073 million, and the 1.5 S CVT Honda SENSING at P998,000. The new variant 1.5 E CVT Honda SENSING retails at P973,000. Available Colors are Ignite Red Metallic (RS CVT, V CVT, and S CVT), Obsidian Blue Pearl (New color; RS CVT and V CVT), Platinum White Pearl (RS CVT and V CVT) with additional P20,000, Taffeta White (S CVT and E CVT), Lunar Silver Metallic (S CVT and E CVT), and Meteoroid Gray Metallic (all variants).

As for the New Brio, the 1.2 RS Black Top CVT retails at P863,000, the 1.2 RS CVT at P853,000, and the 1.2 V CVT at P827,000. The base variant 1.2 S MT ratails at P735,000. Available Colors are Stellar Diamond Pearl (new color; RS Black Top CVT and RS CVT) with additional P20,000, Electric Lime Metallic (new color; RS Black Top CVT and V CVT), Phoenix Orange Pearl (RS Black Top CVT), Rallye Red (V CVT), Meteoroid Gray Metallic (RS CVT, V CVT, and S MT), and Taffeta White (V CVT and S MT).

ily, two golf bags can fit in here. So we can ride together when we go play golf.”

Jing Atienza, the dapper TMP executive vice president, says the top model G pegs at P729,000, a paltry sum in today’s financially-challenged times. Variant E is priced at P684,000 and the J at only P609,000.

T he latest iteration of Wigo G and E variants come in new CVT, and the Wigo J at manual.

Trinoma Activity Center in Quezon City, with TMP ladies Michelle de Guzman, Sunshine Cabrera and Allana Faith Rufo ensuring a hitch-free event together with Aries P. Alconaba.

This is a very exciting launch for us at Toyota Motor Philippines because we know that the Wigo is one of the favorite Toyota models of Filipinos,” said TMP president Atsuhiro Okamoto. “The Wigo has given many new car buyers their memorable first car experience. In fact, we have given thrill and joy to more than 149,000 Wigo owners since the model was introduced in the country in 2014.”

T he All-New Wigo’s exterior boasts of a sporty design. It comes with a 3760mm by 1655mm by 1515mm dimension—bigger and wider than the previous generation.

T he interior is now more spacious and has more cargo space. Okamoto, an avid golfer, tells me during the launch after opening Wigo’s trunk: “Eas-

T he G variant features include electronic power steering type, smart keyless entry, and push start ignition system, plus an 8-inch display audio, ready for Apple Carplay and Android Auto.

T he All-New Wigo comes in Red Mica Metallic 2, Orange Metallic 3, Yellow SE, Silver Metallic 4, Gray Metallic and White 2 colors. Follow TMP on Facebook and Instagram, ToyotaMotorPH on Twitter, and join the Viber community at Toyota PH.

PEE STOP Lexus has renewed its endorsement agreement with Filipino golf star Miguel Tabuena. Wise move. Tabuena has the right credentials, boasting of at least 18 wins and an Olympic appearance in Rio de Janeiro in 2016. He is a Lexus ambassador non pareil. Present during the signing ceremonies were Lexus Manila president Raymond T. Rodriguez, Lexus vice Chairman Vince S. Socco, Lexus vice president Carlo Ablaza and Alfred V. Ty, the Lexus chairman himself. Cheers!

The New honda City RS variant in Ignite Red Metallic color

The New honda Brio RS Blacktop variant in electric Lime Metallic color