BusinessMirror June 06, 2024

NG focusing on food, nonfood inflation–DOF

By Reine Juvierre S. Alberto @reine_alberto

FINANCE Secretary Ralph G. Recto said on Wednesday that the national government is addressing food and non-food inflation through mitigation measures to safeguard the public’s purchasing power.

This, after the inflation rate increased by 3.9 percent in May 2024, faster than the 3.8 percent in April but slower than 6.1 percent in May a year ago. The slight uptick in inflation was driven by the increased price of housing, water, electricity, gas and other fuels and transport.

“We are vigilantly tracking persistent inflation drivers and employing a whole-of-government approach in crafting data-driven policy measures

to effectively counter their effects in a sustainable manner. Our top priority is to ensure that the majority of Filipinos, especially the poor and vulnerable sector, benefit from these interventions,” Recto said.

With the slow growth in rice inflation in May at 23.9 percent, the Department of Finance (DOF) said high rice prices remain a key concern.

To combat this, the National Economic and Development Authority (Neda) Board approved on Monday, June 3, the tariff reduction of imported rice from 35 percent to 15 percent for both quota and out-quota rates until 2028 to temper rice inflation.

“In May, inflation for the bottom 30 percent of households was higher at 5.3 percent, and rice inflation made up more than 80 percent of this. The

current Neda Board agreement aims to alleviate the plight of all Filipino consumers, especially the most vulnerable,” Recto said.

The Philippine Statistics Authority (PSA) estimates a P6.00 to P7.00 reduction in rice prices per kilo after the slashing of tariff rates.

The reduced tariff rates by at least 15 percent on corn, pork and mechanically deboned meat under Executive Order No. 50, s. 2023, until 2028 was also maintained by the Neda Board.

Furthermore, trucks transporting agricultural goods are exempted from toll rate hikes starting June 1, 2024, to prevent the second-round effects of toll rate increases on food inflation.

The Department of Agriculture (DA), meanwhile, is also conducting ongoing consultations with operating

units and regional offices on the rollout of the plan, the DOF said. To further protect consumers from elevated electricity prices due to Meralco’s proposed cost recovery, the DOF said the Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO) has proposed to the Energy Regulatory Commission (ERC) a staggered implementation of the cost recovery scheme over at least 12 months to mitigate its inflationary impact.

“Rest assured, the government is continuously formulating sustainable solutions that will manage the price increases of other commodities and keep inflation within our target range. The solutions on the food security front are guaranteed to work in tandem with our long-term goal of modernizing our agriculture sector,” Recto said.

By Cai U. Ordinario @caiordinario

ROAD TRIPS that took families and friends from one part of the country to another for vacation or to attend various gatherings fueled the country’s inflation rate in May 2024, according to the Philippine Statistics Authority (PSA).

Data showed inflation picked up to 3.9 percent on the back of higher electricity and liquefied petroleum gas (LPG) as well as transportation costs, namely, gasoline, passenger transport by sea, and diesel.

PSA said housing, water, electricity, gas and other fuels accounted for 56.8 percent while transportation accounted for 43.2 percent share of the increase in inflation. (See: https://businessmirror.com.ph/2024/06/05/inflation-up3-9-in-may-driven-by-housing-water-

electricity-gas-and-other-fuels-psa/)

“[There’s] travel, that is one. Of course [there’s] input [also], which is the price of the gasoline, diesel.

[But the] demand, we are seeing really a lot of travel. Ganun naman kadalasan, seasonal naman talaga ang price ng boat [That happens frequently, prices are seasonal],” National Statistician Claire Dennis S. Mapa told BusinessMirror on Wednesday.

Tariff...

will allow the Bangko Sentral ng Pilipinas (BSP) to cut key policy rates ahead of the US Federal Reserve.

“A big reduction in inflation would raise the BSP’s real policy rate and widen its spread from the Fed’s. If so, this would be an opportunity for the BSP to, perhaps, cut faster than the Fed when both central banks are already within their easing cycles,” Dacanay said.

“Cutting ahead of the Fed, however, will still be tricky and would depend on how fast the disinflationary impact of the tariff adjustment would come through,” he added.

Dacanay said that for now, the BSP may cut policy rates by 25 basis points (bps) this year and deliver another 125-bps cut next year in increments of 25 bps or 50 bps, depending on the schedule of the Monetary Policy Board meetings in 2025.

“Amidst uncertainty over the Fed’s trajectory, risks are tilted towards the BSP shifting to a more hawkish stance to support the Peso. The door to cut ahead would be larger if the current account deficit becomes narrower if the real policy rate spread with the Fed widens further, or if the Fed sends dovish signals. But none of these are our baseline. We continue to expect the BSP to cut after the Fed in the fourth quarter of 2024,” he said.

Meanwhile, the country’s economic growth is expected to exceed 6 percent in the second quarter on the back of base effects and lower inflation.

It can be noted that GDP growth in the second quarter of last year only reached 4.3 percent, the lowest since the first quarter of 2021, when the economy contracted by 3.8 percent.

Dacanay added that HSBC has not yet revised its full-year GDP growth forecasts for the Philippines since it is waiting for the implementation of the rice tariff cuts.

HSBC’s growth estimate for 2024 is an average of 5.8 percent, and for 2025, a growth of 6.1 percent.

Cai U. Ordinario

13% rise in human rabies cases prompts DOH alert

TBy Claudeth Mocon-Ciriaco @Claudethmc3

HE Department of Health (DOH) has recorded an increase of 13 percent in human rabies cases from January to May this year.

The DOH also reminded the public to get their pets vaccinated against rabies and to seek vaccination if they are bitten, after recording 169 human rabies cases from January to May this year, which is higher compared to the reported 150 cases in the same period in 2023.

Inflation...

Based on the data, inflation for housing, water, electricity, gas and other fuels increased 0.9 percent while transportation posted a 3.5percent increase in May 2024.

Under housing, water, electricity, gas and other fuels, the highest increase was for Water Supply and Miscellaneous Services Relating to the Dwelling which grew 7.4 percent; followed by Maintenance, Repair and Security of the Dwell-

As of May 11, 2024, Region XII (Soccsksargen) reported the highest with 21 number of cases. This was followed by Regions IV-A (Calabarzon) and V (Bicol) with 18 cases each. Among the cases reported, 156 (92 percent) had a his-

ing which increased 2.9 percent.

For transportation, Operation of Personal Transport Equipment posted a growth of 5.3 percent in May 2024, followed by Passenger Transport Services which grew 3.2 percent during the period.

The increase in the price of these non-food items, HSBC Asean economist Aris Dacanay said, indicates that not only are Filipino’s priorities changing, but also that their standards of living are improving.

Dacanay noted that currently, food and non-alcoholic beverages account for 37.745 percent of the Consumer Price Index (CPI). This is

tory of dog bites, while 10 (6 percent) cases with a history of cat bites, and the remaining 3 cases reported a history of bites from other animals.

Of the 169 reported cases, a total of 160 deaths have been reported, resulting in a case fatality rate of 94.67 percent.

The status of the remaining 9 cases reported are still being verified.

“Rabies is a viral infection that can be transmitted to humans through animal bites or even scratches, most commonly by dogs and cats,” said Health Secretary Teodoro J. Herbosa.

The DOH said that rabies is preventable, and vaccination is the most effective measure to protect animals and humans.

“Given the high percentage of cases involving dogs and cats, it is imperative that pet owners ensure their animals are vaccinated against

expected to change as the country moves closer to becoming an Upper Middle Income Country (UMIC).

He said the share of food and non-alcoholic beverages in the CPI of UMICs in the region tend to be lower at around 20 percent. This means the country, which is on track to hitting UMIC status, would see a gradual reduction in the share of food in the CPI.

“I think...in terms of the CPI basket, the Philippines has one of the highest shares in terms of raw food. If I remember correctly, the weight is 30 [percent]. For other upper-middle income economies, I think it ranges around 20 [percent], just a rough number. So it does [reflect a country’s path of moving to a higher-income status]. We are transitioning to that trend,” Dacanay said.

Inflation path

THE Bangko Sentral ng Pilipinas (BSP) said the year-to-date average of 3.5 percent was within the Government’s inflation target range of 3.0 percent ± 1.0 percentage point for the year.

On a month-on-month seasonally adjusted basis, BSP said the headline inflation rose to 0.3 percent in May from 0.2 percent in the previous month.

Core inflation, meanwhile, which excludes selected volatile food and energy items and measures underlying demand-side price pressures, eased further to 3.1 percent year-on-year in May from 3.2 percent in April.

By Ada Pelonia

THE Department of Agriculture (DA) hopes that the reduction of rice tariff to 15 percent would drive down retail prices of the country’s staple, but a large farmers group called it a “death blow” to the country’s rice farmers.

“We will do everything within our power, especially those granted to the DA under the Price Act, to make sure the substantial cut in rice tariff will translate to a significant reduction in retail price of the grain,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement on Wednesday.

Citing the Philippine Statistics Authority (PSA), the DA said the PSA estimates a potential price reduction between P6 and P7 per kilo of rice, the high price of which has kept inflation elevated.

It added that the PSA sees rice accounting for 1.7 percentage points in the May headline inflation of 3.9 percent, while the staple would contribute 3.7 percentage points to the 5.3 percent inflation for the bottom 30 percent income household.

The agriculture chief said the DA plans to fill through the agency’s budget the potential shortfall in the funding for the Rice Competitive Enhancement Fund (RCEF) which allocates P10 billion for farm mechanization, provision better seeds, funding for technology enhancement and farmer training, and other financial support.

“Our priority is to ensure that our rice farmers will continue to benefit from the Rice Fund created under the Rice Tariffication Law [RTL], and is confident will be extended until 2030 to improve the lives of millions of impoverished

rabies at 3 months old and every year thereafter. This not only protects the animals but also significantly reduces the risk of transmission to humans,” the DOH said.

“Death caused by rabies is inevitable once infection begins, that’s why we urge all pet owners to be responsible and get their pets vaccinated against rabies. This not only protects the animals but also significantly reduces the risk of transmission to humans. With this, we can eradicate rabies towards our journey to a Bagong Pilipinas kung saan Bawat Buhay ay Mahalaga,” Herbosa said.

In a Press Conference of the DA last April, Secretary Francisco Tiu Laurel Jr. said around 22 million dogs and cats should be vaccinated against rabies in the country. He also stressed the need for a budget of at least P110 million.

“The latest inflation outturn is consistent with the BSP’s projections that inflation is likely to exceed the target range temporarily due to the possible impact of adverse weather conditions on domestic agricultural output as well as positive base effects,” BSP said.

For its part, the National Economic and Development Authority (Neda) said it is stepping up efforts against inflation drivers following the rise in the country’s headline inflation rate in May 2024.

“The government will continue to implement lasting policy reforms to ensure we address the drivers of food and non-food inflation sustainably. We want to maintain a macroeconomic environment conducive to investment and high-quality job creation—an environment that would allow us to hit the Marcos Administration’s development targets by 2028,” Neda Secretary Arsenio M. Balisacan said.

Food inflation

MEANWHILE, Neda said food inflation decelerated but is still elevated at 6.1 percent in May from 6.3 percent in April.

The slowdown of food inflation for the month was traced primarily to the slower increase in the prices of vegetables, tubers, plantains, and cooking bananas—to 2.7 percent in May from 4.3 percent in April.

Although still elevated, rice inflation decreased slightly to 23.0 percent for the month from 23.9

rice farmers,” Laurel said.

Socioeconomic Planning Secretary Arsenio Balisacan said in a press briefing in Malacañang on Tuesday that the government would provide other services to farmers, who would be affected by the lower RCEF, to bolster their productivity. (See: https://businessmirror.com.ph/2024/06/05/phl-cuts-ricetariffs-to-temper-inflation/)

Meanwhile, Laurel said the department would also seek Congress’ support for a bigger budget for fertilizer subsidy and financial backing for the National Food Authority [NFA] to maintain a reasonable buying price for palay to ensure that “rice farmers make a profit from their hard work.”

The NFA earlier noted that it would need over P16 billion next year to fund the procurement of palay from local farms and build additional storage and drying facilities to improve its buffer stocking capacity.

Laurel said the NFA and the National Irrigation Administration (NIA) would also be encouraged to continue with their contract growing projects to create a good market for rice farmers willing to join the program.

FFF: Tariff cuts a ’death blow’

THE government’s optimism is in contrast to the outlook of the Federation of Free Farmers (FFF), which said the reduction in rice tariffs is a “death blow” to the country’s rice farmers.

“The Neda board’s decision to reduce rice tariffs from 35 to 15 percent is a stab in the back of, and very likely the death blow against, the country’s 3 million rice farmers and the rice industry as a whole,” the FFF said in a statement.

According to Balisacan, the government’s move aims to lower the price of rice further and

The DOH supports this call for additional DA budget allocation for the widespread animal vaccination program.

percent in April. The May inflation report recorded a zero percent inflation rate for fish and other seafood from 0.4 percent the previous year.

“To help manage food inflation, promote policy stability and investment planning, and enhance food security, the Neda Board has agreed to reduce the rice duty rate to 15 percent from 35 percent for both in-quota and out-quota imports until 2028,” the country’s chief economic planner said. Balisacan said the Neda Board also approved the extension until 2028 of the reduced tariff rates on corn, pork, and mechanically deboned meat under Executive Order No. 50, s. 2023.

“The Neda Board approved the new Comprehensive Tariff Program for 2024-2028, a strategic move to ensure access and affordability to essential commodities while balancing the interests of consumers, local producers, and the economy. At the same time, we recognize the need to help our farmers by modernizing our agricultural sector,” he said.

To mitigate the impact of elevated food prices on the poor and vulnerable sector, Neda said the Department of Social Welfare and Development and relevant agencies are set to implement the Food Stamp Program nationwide in July fully.

This program expects to cover 1 million households by 2027 from the initial 300,000 families in 10 regions.

make it more affordable for consumers.

The government expects the tariff reduction to stabilize rice prices in the next four years and tone down inflation.

For the farmers group, however, the agency’s decision “deprived” industry stakeholders of their right to genuine consultation and due process.

“Normally, proposed tariff changes undergo hearings conducted by the Tariff Commission. Recommendations are then given to the Neda board. This procedure was not followed before the lowering of the rice tariff,” the FFF said.

The group said the Executive Branch assured rice farmers that rice and other sensitive agricultural commodities would not suffer any diminution in tariff protection for the duration of the agreement during the 2023 Senate hearings on the ratification of the Regional Comprehensive Economic Partnership (RCEP) trade treaty.

“That honorable commitment has been rendered worthless by the Neda Board,” it added. The FFF said their experience since trading in the rice industry was liberalized under the Rice Tariffication Law (RTL) and the reduction of tariffs on non-ASEAN rice imports “has not been salutary.”

“Our dependence on imports from the volatile world market has grown from 10 percent of total domestic consumption to around 25 percent. Rice retail prices have risen,” the group said.

“That the 15 percent tariff on rice will provide major and lasting relief to consumers is more a shot in the dark than a probable result. Meanwhile, the impact of Neda’s decision on the morale and productive efforts of our rice farmers will be hugely discouraging.”

HEALTH Secretary Teodoro J. Herbosa

Kanlaon remains under ‘increasing unrest’ status

By Jonathan L. Mayuga @jonlmayuga

THE r est i ve K anlaon Volcano h as been calme r s i nce Tuesday n i g ht but t he Phi li pp i ne Inst it ute of Volcanology and Se i smology r eta i ned Ale r t

Level 2 or Inc reas i ng Un rest sta-

t u s ow i ng to its s i gns of i nc reas-

i ng u n rest.

T hi s as t h e A ir Fo r ce annou nced t he deployment of hel i copte r s to condu ct a qui ck assessment of t he damage b rou g ht abo u t a s i x-m i n u te explos i on Monday n i g ht.

T he explos ion compelled aut horit ies to condu ct i mmed i ate evac u at ion of hu nd reds of fam il ies l i v i ng nea r Mt. K anlaon as it em itted f u mes and volcan i c as h on its west s ide. T he volcan ic u n rest and t hreat of explos ion p rompted t he cancellat ion of fl i g hts f rom Man i la to t he Vi sayas, i nclu d i ng Iloi lo, Bacolod, and Ceb u In its Volcano Bu llet i n i ssued at m idn i g ht of Ju ne 5, Mt. K anlaon, also called K anlaon Volcano, cont i nu es to s how s i gns of i nc reasi ng u n rest. Phi volcs recorded 5 3 volcan

DSWD: 32,000 children of 4Ps beneficiaries

s he added.

Gatchalian presses creation of Centers for Disease Control

FBy Jovee Marie dela Cruz @joveemarie

THE Depa r tment of Soc i al Welfa re and Development (DSWD) on Wednesday an-

nou nced t h at ove r 32,000 for me r mon itored c hi ld ren of t he Pantaw id Pam i lyang Pi l i p i no Prog r am (4 Ps) h ave s u ccessf u lly completed t he ir te r t i a r y edu cat ion f rom 2016 u p to Ap ri l 3 0, 2024. Soc i al Welfa re Assi stant Sec re-

ta r y I rene D u mlao, w ho h andles

t he agency’s D i saste r Response and Management

G rou p (DRMG)

sa id t h at t hrou g h t he 4Ps, t he a i m i s to b reak t he i nte r gene r at ional cycle of pove r ty by i nvest i ng i n hu man cap ital.

“We a re del i g hted t h at a total of 32,556 for me r mon itored

c hi ld ren u nde r our flags hi p pov-

e r ty allev i at ion p rog r am a re now

d i ploma holde r s,” D u mlao sa id.

T he prog r am h as also seen outstand i ng academ i c ac hievements among its benef i c i a ries. Among t hese g r adu ates, 82 we re magna

c u m lau de, 1,1 3 5 we re c u m lau de, and 1 32 rece i ved spec i al d i st i nct i on and ot h e r awa r ds, added D u mlao.

“T hese f i g ures a re a testament

t h at t he 4 Ps and t he f u nds of t he gove r nment a r e be i ng u t i l i zed p rope r ly. T hey a re sol id i nd i cat ions t h at DSWD’s 4 Ps i s a valuable tool i n effect i vely i nvest i ng i n hu man capital,” D u mlao added.

Mo r e t h an 6,000 g r ad u ates also passed t he ir respect ive boa rd exam i nat ions, mak i ng t hem l icensed teac he r s, eng i nee r s, a rc hitects, and m idw ives, accord i ng to D u mlao.

“Ju st recently, anot he r for me r

4 Ps mon itored c hi ld sec ured t he top spot i n t he Ma rc h 2024 L icens ure Exam i nat ion for Teac he r s [LET] at t he elementa r y level. Notably, f rom 2018 to p resent, a total of 49 for me r 4 Ps mon itored c hi ld ren got t he hi g hest scores i n va riou s boa rd exam i nat ions,”

Tr epo r ts r ece i ved by hi s off i ce abo u t fo r e i gn nat i onals wo r k i ng i llegally i ns i de t h e s u bd i v i s i on. “We r ece i ved

Kh ane Ce r vantes, f rom Davao O riental, i s now a l icensed teac her afte r s he, along w it h two ot he r exam i nees, aced t he LET w it h a 92.40 pe rcent r at i ng. Ce r vantes also g r ad u ated magna c u m lau de f rom Davao O riental State Un i ve r s ity-Cateel Camp u s. S h e was a sc hola r of t he Comm i ss ion on H i g he r Edu cat ion Un i f ied St udent Fi nanc i al Ass i stance System fo r Te r t i a r y Edu cat i on (CHEDUn i FAST) Te r t i a r y Ed u cat i on Su bs idy (TES). “Becom i ng a CHED Un i FAST sc hola r was t ru ly advantageou s fo r me as a 4 P s benef i c i a r y. T h anks to t hi s oppor t u n ity, my edu cat ion was f u lly s u ppor ted, allow i ng me to complete my college deg ree,” he sa id. T he TES i s a g r ant- i n-a id p ro-

g r am u nde r Rep u bl i c Act 109 31, or t he Un i ve r sal Access to Qu al-

ity Te r t i a r y Edu cat ion Act, g i ven to qu al i f i ed st u dents en r olled i n CHED- recogn i zed p u bl i c and p rov i nc i al hi g he r edu cat ion i nst it ut ions.

It p riorit i zes t he benef i c i a ries of 4 Ps and ot he r hou se holds i nclu ded i n t he L i sta h anan by s u ppor t i ng at least t he pa r t i al cost of te r t i a r y edu cat ion, i nclu s i ve of edu cat ion- related expenses.

“T h e DSWD takes p ri de i n Kh ane’s ac hi evement. S h e i s p r oof t h at o ur depa r tment’s

i n i t i at i ves a r e not only enabl i ng t h e yo u t h to p ur s u e t h e ir ed u cat i on. We a r e also h on i ng t h em to become r espons i ble and p r o-

d u ct i ve membe r s of o ur soc i ety,”

D u mlao sa i d. Lau nc hed i n 2008 and i nst it ut ional i zed by Repu bl ic Act 11310, t he 4 Ps

h o u se h olds fo r a max i mu m pe riod of seven yea r s to i mprove t he ir c hi ld ren’s healt h nut rit ion, and edu cat ion.

c r ed i ble i nfo r mat i on abo u t fo re i gn nat ionals engag i ng i n i llegal r eta i l act i v i t i es, and o ur team acted sw i ftly

OLLOWING the detection of the FLiRT variant of Covid-19 in the Philippines, Sen. Sherwin Gatchalian reiterated the need to create the Centers for Disease Control and Prevention (CDC) under the Department of Health (DOH).

Gatchalian is one of the co-authors of the proposed Philippine Centers for Disease Prevention and Control Act or Senate Bill 1869 that mandates the creation of the CDC.

Under the measure, the CDC shall serve as the technical authority on forecasting, analysis, strategy, and standards develop-

ment to prevent and control diseases and health security situations.

The bill provides the CDC with the following functions: the implementation of disease surveillance and field epidemiology activities, the establishment and strengthening of public health laboratories, the recommendation of actions for public health threats, and the building of local capacity for surveillance and health research, among others.

Under the measure, the CDC will be mandated to set the standards for surveil-

lance at ports of entry. It will also coordinate with the Bureau of Quarantine for operationalization and stakeholder management.

To support the Department of Health’s regional offices, the center shall have regional counterparts that will maintain technical capacity for epidemiology and surveillance, health statistics, laboratory, and research. Provinces, cities, and municipalities shall adopt and localize standards and guidelines developed by the CDC. Naging aral sa atin noong panahon ng pandemya kung gaano kahalaga na

maging handa sa panahon ng mga krisis pang-kalusugan.Kayanamanpatuloynating isinusulong ang pagtatatag ng Center for Disease Control and Prevention  upang mapaigtingangatingkahandaannatumugonsamgakrisistuladngpandemyaatiba pangmgasakuna. [The pandemic taught us the lesson of how vital it is to be prepared for health crises. That’s why I keep pushing for the establishment of a Center for Disease Control and Prevention to better prepare us for a crisis like the pandemic and other disasters],” Gatchalian said. Butch Fernandez

Marcos vows protection for cops subjected to harassment cases

PRESIDENT Marcos on Wednesday ordered a study for the possible creation of a legal department in the National Police that will provide lawyers for policemen subjected to harassment suits.

Marcos said that policemen are oftentimes subjected to harassment suits and “flimsy accusations” and should be protected from such.

“We shall create an office...a legal office within the PNP that will be the defense counsel of any policeman who is charged with whatever complaint or crime. Mayroon at mayroon silang tatakbuhan kaagad na abogado. [They will have a lawyer] just to give them advice and it will be internal,”

Marcos said during during the a command conference at Camp Crame, Quezon City, the general headquarters of the National Police.

Marcos said policemen would not be asked to pay for the services of this legal office.

He noted that many criminals have “weaponized” the legal system against policemen.

“Kapag nahuli ’yong kriminal, hulinghuli na, pero magaling abogado tapos walang kalaban-laban naman ’yong ating pulis. [When a criminal is arrested then his ir her lawyer is good, our cops do not stand a chance], Marcos said.

Marcos added that the creation of a legal department would protect the force from influential groups harassing the police.

“They can afford a lawyer so for one week tapos, tapos na. So we have to provide that kind of protection paranaman ’yongmgapulis natin, malakasangloobnagawinangtrabaho nila. Kahittamaangginagawanila, hinaharass sila. [They can afford a lawyer for one week, then it’s over. So, we have to provide that kind of protection for our policemen, so they will be able to do their jobs properly and they will not be harassed).”

Kakasuhan sila ng kung ano-ano [They are charged with what ever case], some of them [criminals] are powerful figures. So, siyempre, marami silang [of course, they have the] capability,  maraming [a lot of] resources,  maraming pera [a lot of moneyu].  Marami silang [They have lot of] access  sa mga sikat na abogado [to famous lawyers],  kailangan mayroon din tayong pang depensa [we should have defense against that]. Yes, we have to protect our people,” he added.

Meanwhile, Interior Secretary Benhur Abalos Jr. on Wednesday warned that cases of Anti-Online Sexual Abuse or Exploitation of Children (Osaec) should not be settled at the barangay level.

During a news conference in Malacañang, Abalos Osaec cases should be brought to law enforcement authorities, noting that most cases of online sexual abuse against minors no longer reach the police.

Abalos said local officials who meddle in Osaec cases could be held liable if proven that they are behind the “settlement’” of these cases.

“These cases should not be settled. I will make sure you will also go to jail [if you interfere],” Abalos said.

Registered companies meet target to divert 20 percent of plastic waste

By Jonathan L. Mayuga @jonlmayuga

REGISTERED business establishments have met the target of diverting plastic waste by 20 percent in the first year of implementing the Expanded Producers’ Responsibility (EPR) Act, the Department of Environment and Natural Resources (DENR) reported.

T h e Env ir onmental Management B ureau (EMB) repor ted t h at a total of 624,547 tons of u nau d

i ng a c irc u la r economy w he re waste i s m i n i m i zed, resources a re p rotected, and t he del i cate balance

of our planet i s resto red.” B u s i nesses h ave ac hieved

i

by 2028.

ea r

n less t h an

rcent of plast

pack-

h ave been made

i nce t he enabl i ng law, Rep

bl i c Act 11898 or t he Extended Produ ce r Respons i b i l ity (E PR) Act, came i nto force i n 2022, Loyzaga sa i d i n a keynote speec h t itled “L i nk i ng Oppo r t un it i es and Pa r tne r s hi ps Towa rds C irc u la r Economy.”

C irc u la r economy i s about t he p r act i ce of redu c i ng, re u s i ng, and recycl i ng, a 1970s concept of 3Rs w hi c h appea red to be mod i f ied and i mp rov i sed i n 201 3 t hrou g h a repor t t itled “Towa rds t he C irc u la r Economy Econom i c and B u s i ness Rat ionale for an Accele r ated Tr ans it ion,” comm i ss ioned by t he Ellen MacA r t hur Fou ndat ion. T he EPR law re quires bu s i nesses to condu ct p rope r waste management of plast i c packag i ng p rodu cts s u c h as sac hets, ri g i d plast i c packag i ng p rodu cts, plast i c bags, and polysty rene.

T he EMB also repor ted a 37 pe rcent i nc rease i n t he nu mbe r of bu s inesses t h at reg i ste red u nde r t he

E PR p rog r am, f rom 667 i n 202 3 to 917 compan ies as of May 6, 2024. Unde r t he E PR Act, t he ta r gets for t he recove r y of plast i c p rodu ct footp ri nt a r e : 202 3 , 20 pe r cent; 2024, 40 pe rcent ; 2025, 50 pe rcent; 2026, 60 pe rcent; 2027, 70 pe rcent; and, 2028, 80 pe rcent. Follow i ng enactment of t h e E P R Act, t h e DENR h as i ss u ed an Adm i n i st r at i ve O r de r (DAO) 2024-04 p r om u lgat i ng t h e i nte r -

i m g ui del i nes on t h e compl i ance

a u d i t r epo r t i ng fo r legally bo u nd ente r p ri ses u nde r t h at law. T he g uidelines—developed by the DENR w it h t he Aud it and Assurance Standards Counci l and Financial and Susta i nabi l ity Repor t i ng Standa rds

Cou nc i l—were adopted, whi le t he u n ifor m standa rds for EPR compl iance aud it i ng and repor t i ng, as well as t he acc red itat ion ru les and procedures for i ndependent t hird-pa r ty EPR compl i ance aud itors, a re yet to be f i nal i zed.

T itled “Compl i ance Repo r t i ng and A u d it G ui del i nes for Rep u bl i c Act 11898 or t he Extended Producer Respons i b i l ity Act of 2022,” t h e DAO a i ms to help E PR- reg i ste red obl i ged ente r p ri ses, collect i ves, and producer responsibi l ity organ izat ions and t he ir respect i ve i ndependent t hird-pa r ty au d itor s w it h t he annu al E PR Compl i ance A u d it Repor t (ECAR). It p rov i des tempor a r y g ui dance and templates for develop i ng t he Eca r const it ut i ng t he E PR Compl iance and A u d it repor ts. T he deadl i ne for t he s u bm i ss ion to t he Env ironmental Management B ureau (EMB) of t he ECARs i s on

Ju ne 3 0 or t he f ir st wor k i ng day i mmed i ately afte r t h at of t he yea r Loyzaga sa i d, “T he ur gency of our m i ss ion i s u nde r scored by t he g row i ng i mpacts of l i nea r consu mpt ion patte r ns as ev i denced by t he stagge ri ng volu me of waste gene rated da i ly i n our cou nt r y.” Mov i ng away f r om t h e l i nea r economy model of take-make-d i spose, E PR i s c ru c i al i n advanc i ng a c irc u la r economy. It en h ances t he eff i c ient u se of mate ri als and red irects p rocesses f rom t he end of t he s upply c h a i n back to t he beg i nn i ng.

“T hi s s u ppo r ts t h e co u nt r y’s ac hievement of its nat ionally determ i ned cont ribut ion as ment ioned by t he Cl i mate C h ange Comm ission espec i ally i n, concer n i ng our waste wherei n t he c irc u la r economy and susta i nable consu mpt ion and product ion h ave been ident if ied as key m it igat ion measures aga inst cl imate c h ange. It also suppor ts our susta i nable development goals on climate act ion, on t he protect ion of l ife on land and undersea, zero hunger water and establ ishi ng susta i nable c it ies, and rega rd i ng our pover ty issues,” sa id Sec reta r y Loyzaga.

“We h ave set ve r y amb i t i o u s goals fo r r ed u c i ng waste, w hi c h re quires t r ansfor mat i ve, systemw ide act ions, and la rge-scale i mplementat ions,” s he added.

Kanlaon eruption affects sugar production

By Ada Pelonia @adapelonia

last week should have been ideal. With the current resu lts after the ash fall, if this w ill not be washed out by rains, we w i ll need soi l rejuvenation in affected sugar lands to bring it back to the ideal state and that is long ter m,” SRA Administrator Pablo Luis Azcona said in a statement.

T he agency’s resea rc h and development a r m conducted test i ng at t he La Granja Resea rc h Stat ion i n La Ca rlota, and it showed t h at t he i mmed i ate effects of volcan ic ash cou ld cau se physical damage on t he leaves, reduc i ng its photosynt hesi s capabi l ity and biolog ical and c hem ical d i srupt ion on

Govt eyes more mining areas

THE gover nment is now eyeing

i

Reg ion (CAR), Surigao, and Davao to

c rit ical m i ner al deposits i n t he t hree a reas. T his was conta ined in t he new roadmap presented by the Depar tment of Env ironment and Nat ural Resources (DENR) to President Marcos during a sectoral meeting in Malacañang.

T he depa r tment noted t h at t he cou nt r y needs to f u lly h a r ness its m i n i ng sector to ut i l i ze its abu ndant m i ner al deposits. DENR’s comprehensive plan a ims to rev ital i ze t he c rit ical m i ner als i ndu st r y w it h t he gover nment taki ng steps to boost m i ner al product ion by spea rhead i ng explor at ion i n it i at ives.

It hig h l ig hted t he potent i al of t he Cord i ller as, Surigao and Davao i n ter ms of n ickel, copper and gold deposits.

T he gover nment plans to make suc h hig h-potent i al a reas ava i lable to t he publ ic by en h anc i ng t he ir i nf r ast ruct ures and ut i l ity suppor t. Also d i sc u ssed i n t he plan i s t he st reaml

By VG Cabuag

SHOPPING

mall operator SM

Prime Holdings Inc. has set the interest rates for its pesodenominated fixed-rate bonds, due in three, five and seven years.

Series V due in 2027 has fetched a rate of 6.5754 percent, Series W due in 2029 will have a yield of 6.7537 percent, and Series X due 2031 will have a rate of 6.9650 percent.

The company will issue an aggregate principal amount of P20 billion, with an oversubscription option of an additional P5 billion.

The proposed issuance is under the company’s P100-billion shelf registration of fixed-rate bonds approved by Securities and Exchange Commission (SEC) on May 23.

The offer period of the bonds will take place from June 7 to 14.

Cebu Pacific to offer direct flights from Cebu to Bangkok and Masbate SM Prime’s sets rates for fixed rate bonds

“SM Prime recognizes the support of SEC in our pursuit of growth opportunities through our newest P100-billion bond program. This endeavor will help us fuel our passion of providing sustainable integrated property developments to serve more communities across the nation,” SM Prime’s CFO John Nai Peng C. Ong said.

The Series V, W and X have been rated PRS Aaa by Philippine Rating Services Corp. PRS Aaa rating is the highest rating assigned by PhilRatings, denoting that such obligations are of the highest quality with minimal credit risk and the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.

SM Prime’s Series V, W, and X Bonds will be made available to investors through joint issue managers BDO Capital and Investment Corp. and China Bank Capital Corp. which are also joint bookrunners and joint lead underwriters together with BPI Capital Corp., EastWest Banking Corp., First Metro Investment Corp., Land Bank of the Philippines and SB Capital Investment Corp. These retail bonds are set to be issued on June 24.

For failure to reopen AMA rural bank, BSP, PDIC execs cited in contempt

By Joel R. San Juan @jrsanjuan1573

THE Court of Appeals has granted the petition filed by the owners of AMA Rural Bank of Mandaluyong seeking to cite for indirect contempt the officials of Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corporation (PDIC) for their failure to comply with the 2020 Court of Appeals order to reopen the bank and restore its assets.

Found guilty of indirect contempt were former Finance Secretary and Monetary Board Member Carlos Dominguez III, former BSP Governors Benjamin Diokno and Felipe Medalla,

former Metrobank president and Momentary Board Member (MBM) Antonio Abacan, MBM Bruce Tolentino; and PDIC officers Roberto Tan, Eduardo Pangan, Rogelio Guadalquiver, Maria

Antonette Brillantes-Bolivar, Mylene Fari ñ as-Pasamba, Mary Rosary Lagman, Reynaldo Tansioco, Juan De Zu ñ iga Jr., Aurora Ignacio, Pamela Angeli Solis-Ty, Nelson Portacio and Elaine Deticio.

The appellate court also directed each of the respondents to pay a fine of P30,000 to the petitioners.

“After establishing the contemptuous acts of the officers and directors of BSP and PDIC in defiance of the writ issued by this Court, this Court finds that respondents must be adjudged guilty of indirect contempt of court,” the CA declared.

The CA concluded that the delay on the part of the respondents to comply with its order was “deliberate,” noting the “procedural complexities highlighted by respondents do not align with the actual simplicity of the instructions of the Court.”

“This Court holds that respondents were in bad faith.… The delay of more than two years in complying

with these writs has no good justification. Respondents are complicating matters that are simple and clear,” the ruling pointed out.

While imprisonment for civil contempt may be imposed on the respondents, the CA said it did not enforce the punishment to give the respondents the opportunity to comply with its order issued on September 7, 2020, which voided Resolution No. 1705 issued by the Monetary Board (MB) on November 7, 2019.

“Here, the Court is reluctant to impose the penalty of imprisonment to coerce respondents to comply with the court order because their imprisonment might even defeat the objective of doing their part in the proper implementation of the writs of execution…,” the CA said.

MB Resolution No. 1705 prohibited AMA Bank from doing business in the country and ordered the PDIC, as receiver, to proceed with its takeover and liquidation.

In its September 2020 decision, the CA held that the said order was “unwarranted as it is not based on the grounds provided by law.”

It directed the BSP within five days from receipt of the decision to do all the necessary acts to restore AMA Bank to its full operational status and for the PDIC to return all assets amounting to more than P400 million and records which it seized from the bank.

The appellate court held that its decision was immediately executory.

The Supreme Court affirmed the CA’s ruling favoring AMA Bank in a decision issued on March 1, 2023.

It subsequently granted the petitioners’ motion for the issuance of a writ of execution ordering the BSP and PDIC to immediately enforce the September 7, 2020 decision.

Despite the service of the writ of execution and alias writ of execution, the CA said BSP and PDIC failed to comply with the court orders and processes.

Don’t settle cases of child abuse–Abalos to bgy execs

By Lorenz S. Marasigan @lorenzmarasigan

BUDGET carrier Cebu Pacific is expanding its Cebu hub with the introduction of new direct flights to Masbate and Bangkok, beginning this October.

Starting October 2, Cebu Pacific will operate flights between Cebu and Don Mueang International Airport in Bangkok three times a week, on Mondays, Wednesdays, and Fridays.

Later in the month, on October 25, the airline will commence flights between Cebu and Masbate, also three times a week on the same days.

“Cebu Pacific is excited to expand our Cebu hub with these new routes to Don Mueang-Bangkok and Masbate. This expansion aligns with our mission to provide accessible and affordable air travel for every Juan. We are committed to connecting more destinations

and offering our passengers more choices for their travel needs,” Cebu Pacific President Xander Lao said.

He said this move aims to enhance connectivity and provide more travel options for passengers from Cebu, known as the Queen City of the South.

According to Lao, the new service to Masbate opens up opportunities for travelers to explore the island’s pristine white sand beaches, including Ticao and Burias Islands, and to dive into the rich marine life at Manta Bowl Shoal.

The launch of this service is expected to boost local tourism and provide more options for adventurers seeking natural beauty and underwater exploration.

Meanwhile, Bangkok has long been a favorite destination for Filipinos. With the new Cebu-Don Mueang route, Cebu Pacific said it will enhance its offerings, making travel to Thailand’s vibrant capital

more accessible.

Bangkok was one of Cebu Pacific’s first international destinations, having launched its Manila-Bangkok service in 2006. The airline also operates flights to Bangkok from Manila and Clark, further solidifying its presence in the region.

To celebrate the launch of these new routes, Cebu Pacific is offering promotional fares. From June 5 until June 13, passengers can book flights to Don Mueang-Bangkok and Masbate from Cebu for as low as P1 one-way base fare, exclusive of fees and surcharges.

The travel period for the promotional fare to Don MueangBangkok is from October 2 to October 25, and for Masbate, from October 25, to March 29, 2025.

Currently, Cebu Pacific flies to 35 domestic and 25 international destinations spread across Asia, Australia, and the Middle East.

Alternergy breaks ground for Tanay, Rizal wind project

ABy Lenie Lectura @llectura

LTERNERGY Holdings Corp. (Alternergy) broke ground for its 112-megawatt (MW) Tanay wind power project in Rizal, signaling the start of the construction of additional renewable energy (RE) capacity to be injected into the Luzon grid.

Department of Energy-Renewable Energy Management Bureau (DOE-REMB) Assistant Director Ruby de Guzman said during the ceremonial groundbreaking that the Tanay wind power project will provide “substantial contribution” in achieving the country’s RE targets.

“The Tanay Wind Power Project represents a vital step towards

Sachieving the Philippines ambitious RE targets. This project will directly contribute to the national goal of attaining a 35-percent renewable energy share in the power generation mix by 20230 and 50 percent by 2040. This will translate to enhanced energy security and a more sustainable future for the nation.”

This would be the second wind power project of Alternergy in the Province of Rizal. The first is Pililla Wind Project which started commercial operations in 2015.

Tanay Mayor Rafael Tanjuatco noted the Memorandum of Agreement (MOA) signed between Alternergy and the Tanay Municipality in February this year to pursue sustainable growth and development to support the local community.

In particular, Tanjuatco expressed confidence that the tourism industry in Tanay will remain robust even during the construction phase of the wind power project and will grow even more once construction is completed.

Alternergy Tanay Wind Corp. (ATWC) President Knud Hedeager affirmed the company’s commitment to support the local community.

“There will be a lot of growth that is going to happen in the next 18 months. But please bear with us for this construction phase. We assure you that we will take care of you (local community). The tourism industry in Tanay is going to sparkle like never before and will be busier come 2026.”

Alternergy aims to develop up to

disclosed on May 2, ABS-CBN’s share price has risen 77 percent to close at P7.65 per share on June 4, valuing Leviste’s shareholding at P688.5 million. “We certainly have a soft spot for ABS-CBN because my mom was working in the station in my first five years of life, and we know a lot of people who are there and truly, sincerely, wish to help the company. We hope that, by purchasing shares in the company, and even just with the performance of its stock recently, we can work together to help ABS regain its leadership in the media sector,” Leviste said in a television interview. His mother, now Senator Loren Legar-

474MW of additional wind, solar, and run of river hydro projects. AWTC earlier secured up to P8 billion in financing facility to fund the construction of the project from the Bank of the Philippine Islands and Security Bank Corp.

It awarded the wind turbine supply contract to global technology leader Envision Energy and the balance of plant engineering, procurement and construction contract to China Energy Engineering Group Guangdong Electric Power Design Institute Co. Ltd. (GEDI) and its local subsidiary.

Danish technical consulting firm K2 Management is the project’s owner’s engineer that will support Alternergy in ensuring the successful and timely construction of the project

da, rose to prominence as a multi-awarded producer and news anchor on ABS-CBN starting in 1986. Legarda anchored ABSCBN’s “World Tonight” at the time Leviste was born in 1993, up to her run for the Senate in the 1998 elections.

“We want to respect the company to make any such disclosure itself, but that we have said that we are very much interested in helping the company and hope that it will be to the benefit of the shareholders, the employees, and the media sector of the Philippines that more investment and more help can go to media companies,” Leviste said when asked about taking a board seat in ABS-CBN. VG Cabuag

BBy Samuel P. Medenilla @sam_medenilla

ARANGA Y officials and personnel who will engage in the “settlement” of cases related to Online Sexual Abuse or Exploitation of Children (OSAEC) and the Child Sexual Abuse or Exploitation Materials (CSAEM) will face possible jail time, according to the Department of the Interior and Local Government (DILG).

DILG Secretary Benjamin “Benhur” D. Abalos, Jr. issued the warning to barangay officials and workers in a press briefing in Malaca ñ ang last Wednesday.

He said there were instances wherein the barangay officials themselves “settle” the case if OSAEC or CSAEM perpetrators are parents and the victims are their children.

“The child has already become the victim by their parents, then the barangay [officials or personnel] will settle [the case]. That is unacceptable,” the DILG chief said.

“That is why whoever will be found to engage in settlement [of OSAEC and CSAEM cases], I will make sure you will be jailed. I will make sure of that,” he added.

He noted this was in line with the instruction of President Ferdinand R. Marcos, Jr. during their meeting with him last Tuesday.

DOJ Assistant Secretary Jose Dominic F. Clavano I V said the erring officials will be held liable for violating the provisions of Republic Act No. 11930 or the Anti-OSAEC Law.

“So violation of this act shall suffer the penalty of life imprisonment or a fine not less than two million pesos. That is the penalty for the prohibited acts under RA 11930,” he said.

Underreported cases

MARGARITA MAGSA Y SA Y , Department of Justice (DOJ) Center for Anti-Online Child Sexual Abuse Executive Director, stressed the importance for barangays to report OSAEC and CSAEM cases to law enforcement authorities so the said cases can be recorded and investigated.

The underreported OSAEC cases, she said, can be attributed to the settlement of such cases at the barangay level.

In such cases, she said the victims receive no justice and the perpetrator could still be in the community, potentially victimizing other children.

“So, [their task is] very simple, they just have to take it [OSAEC caes] in their logbook, they are not even supposed to interview or make any assessment of the child, they will just forward it to law enforcement agency and the law enforcement agency will take it on from there,” Magsaysay said.

In the last four years, the Philippine

Internet Crimes Against Children Center (PICACC) registered 214 OSAEC case referrals.

Law enforcement conducted 98 operations related to OSAEC resulting in the rescue of 413 victims and leading to 88 arrests. Of those arrested, 38 were convicted.

New Executive Order

DILG and DOJ are targeting to intensify further their campaign against OSAEC and CSAEM cases through a new action plan for the National Coordination Center against OSAEC and CSAEM.

Magsaysay said the plan will have six pillars, namely, improvement on referral pathways and mechanisms; capacity building; communications; aftercare services; private sector engagement; and data harmonization.

“So, with this action plan we strongly believe that eventually we will be able to protect, heal and reintegrate the child into the mainstream of society,” she said.

DOJ said it has already submitted to the President a proposed Executive Order (EO) for the implementation of the action plan.

“Hopefully once the EO is signed the six pillars and our programs will be operationalized, and we can finally eradicate this gruesome crime,” Clavano said.

Other measures

ASIDE from the action plan, Abalos said he will also issue a memorandum circular requiring concerned local government units (LGU) to come out with ordinances to combat (OSAEC) and (CSAEM).

“This will not only cover barangays, but also include municipalities, and cities,” he said.

He said they will include as part of assessing the performance of LGUs the number of their personnel who are trained to implement special protection laws, including online sexual abuse, exploitation and child sexual abuse or exploitation.

LGUs will also be required to have programs related to the “Safer Internet Day for Children of the Philippines.”

Law enforcement agencies are also expected to receive an enhancement in their efforts to track OSAEC and CSAEM through the 21 Artificial Intelligence (AI) programs to be donated by the United Arab Emirates (UAE).

He said the programs will help filter complaints related to OSAEC and CSAEM to remove those which are fake and have been reported multiple times.

“Right now our police are undergoing the training here [for the use of such AI programs],” Abalos said.

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US solons rebuke ICC: House approves sanctions over Netanyahu arrest warrant

By Farnoush Amiri The Associated Press

WASHINGTON—The House passed legislation Tuesday that would sanction the International Criminal Court for requesting arrest warrants for Israeli Prime Minister Benjamin Netanyahu and other Israeli officials.

The 247-155 vote amounts to Congress’ first legislative rebuke of the war crimes court since its stunning decision last month to seek arrest warrants for the leaders of Israel and Hamas. The move was widely denounced in Washington, creating a rare moment of unity on Israel even as partisan divisions over the war with Hamas intensified.

While the House bill was expected to pass Tuesday, it managed to attract only modest Democratic support, despite an outpouring of outrage at the court’s decision, dulling its chances in the Senate.

The White House opposes the leg-

islation, calling it overreach.

Both the Republican and Democratic leaders of the House Foreign Affairs Committee acknowledged the bill in question is unlikely to become law and left the door open to further negotiation with the White House. They said it would be better for Congress to be united against the Hague-based court.

“We’re always strongest, particularly on this committee, when we speak with one voice as one nation, in this case to the ICC and to the judges,” GOP Rep. Mike McCaul, chair of the Foreign Affairs Committee, said during House debate.

“A partisan messaging bill was not my intention here but that is where we are.”

State Department spokesperson Matt Miller reiterated the administration’s opposition to the sanctions bill.

“We have made clear that while we oppose the decision taken by the prosecutor of the ICC, we don’t think it is appropriate, especially

while there are ongoing investigations inside Israel looking at somebody’s very same questions, and we were willing to work with Congress on what a response might look like but we don’t support sanctions,” Miller said.

The House bill would apply sweeping economic sanctions and visa restrictions to individuals and judges associated with the ICC,

Modi claims victory in India’s election but drop in support forces him to rely on coalition partners

By Krutika Pathi, Sheikh Saaliq & David Rising The Associated Press

EW DELHI—Prime Min-

Nister Narendra Modi declared victory for his alliance in India’s general election, claiming a mandate to move forward with his agenda, even though his party lost seats to a stronger than expected opposition, which pushed back against his mixed economic record and polarizing politics.

“Today’s victory is the victory of the world’s largest democracy,” Modi told the crowd at his party’s headquarters Tuesday, saying Indian voters had “shown immense faith” both in his party and his National Democratic Alliance coalition.

Official results from India’s Election Commission on Wednesday showed the NDA won 294 seats, more than the 272 seats needed to secure a majority but far fewer than had been expected.

For the first time since his Hindu nationalist Bharatiya Janata Party swept to power in 2014, it did not secure a majority on its own, winning 240 seats—far fewer than the record 303 it won in the 2019 election.

That means Modi will need the support of other parties in his coalition—a stunning blow for the 73-year-old, who had hoped for a landslide victory. During campaigning, Modi said his party would likely win 370 seats and his allies another 30 seats.

He now depends on the support of key allies, including the Telugu Desam Party in southern Andhra Pradesh state with 16 seats and Janata Dal (United), which won 12 seats in eastern Bihar state, as well as smaller groups.

“Indian voters can’t be taken for granted,” said the Times of India newspaper in an editorial. “ Voters have clearly indicated that jobs and economic aspirations matter. The

economic message from the results is that jobs matter.”

The Congress party won 99 seats, improving its tally from 52 in the 2019 elections. Among its key allies, Samajwadi Party won 37 seats in northern Uttar Pradesh state in a major upset for the BJP; All India Trinamool Congress bagged 29 seats in West Bengal state; and the Dravida Munnetra K azhagam 22 seats in southern Tamil Nadu state.

The opposition INDIA coalition won a total of 232 seats.

The BJP may now be “heavily dependent on the goodwill of its allies, which makes them critical players who we can expect will extract their pound of flesh, both in terms of policymaking as well as government formation,” said Milan Vaishnav, director of the South Asia Program at the Carnegie Endowment for International Peace.

“At the very least, the result pricks the bubble Prime Minister Modi’s authority. He made this election about himself,” said Pratap Bhanu Mehta, a political commentator. “Today, he is just another politician, cut to size by the people,” he said in an article in The Indian Express daily.

More than 640 million votes were cast in the marathon election held over a span of six weeks in the world’s largest democratic exercise.

In the face of the surprising drop in the BJP’s support, challengers claimed they had also won a victory of sorts, with the main opposition Congress party saying the election had been a “moral and political loss” for Modi.

“This is public’s victory and a win for democracy,” Congress party President Mallikarjun K harge told reporters.

Despite the setback, Modi pledged to make good on his election promise to turn India’s economy into the world’s third biggest, from its current fifth place, and not shirk with pushing forward with his agenda.

He said he would advance India’s defense production, boost jobs for youth, raise exports and help farmers, among other things.

“This country will see a new chapter of big decisions. This is Modi’s guarantee,” he said, speaking in the third person.

Many of the Hindu nationalist policies he’s instituted over the last 10 years will also remain locked in place.

Modi’s win was only the second time an Indian leader has retained power for a third term after Jawaharlal Nehru, the country’s first prime minister. Before Modi came to power, India had coalition governments for 30 years.

Congratulations for Modi from leaders of regional countries including neighboring Nepal and Bhutan flowed in, while the White House commended India for its “vibrant democratic process.”

In his 10 years in power, Modi has transformed India’s political landscape, bringing Hindu nationalism, once a fringe ideology in India, into the mainstream while leaving the country deeply divided.

His supporters see him as a self-made, strong leader who has improved India’s standing in the world. His critics and opponents say his Hindu-first politics have bred intolerance while the economy, one of the world’s fastestgrowing, has become more unequal.

For Payal, a resident of the northern city of Lucknow who uses only one name, the election was about the economy and India’s vast number of people living in poverty.

“People are suffering, there are no jobs, people are in such a state that their kids are compelled to make and sell tea on the roadside,” Payal said. “This is a big deal for us. If we don’t wake up now, when will we?”

Rahul Gandhi, the main face of the opposition Congress party, said he saw the election numbers as a message from the people.

“The poorest of this country have defended the constitution of India,” he told a news conference.

Modi’s popularity has outstripped that of his party’s during his first two terms in office, and he turned the parliamentary election into one that more resembled a presidential-style campaign, with the BJP relying on the leader’s brand.

“Modi was not just the prime campaigner, but the sole campaigner of this election,” said Yamini Aiyar, a public policy scholar.

Under Modi’s government, critics say India’s democracy has come under increasing strain with strong-arm tactics used to subdue political opponents, squeeze independent media and quash dissent. The government has rejected such accusations and says democracy is flourishing.

Economic discontent has also simmered under Modi. While stock markets have reached recordhighs, youth unemployment has soared, with only a small portion of Indians benefitting from the boom.

As polls opened in mid-April, a confident BJP initially focused its campaign on “Modi’s guarantees,” highlighting the economic and welfare achievements that his party says have reduced poverty. With Modi at the helm, “India will become a developed nation by 2047,” he repeated in rally after rally.

But the campaign turned increasingly shrill, as Modi ramped up polarizing rhetoric that targeted Muslims, who make up 14% of the population, a tactic seen to energize his core Hindu majority voters.

The opposition INDIA alliance attacked Modi over his Hindu nationalist politics, and campaigned on issues of joblessness, inflation and inequality.

“These issues have resonated and made a dent,” added Aiyar, the public policy scholar.

including their family members.

Democrats labeled the approach as “overly broad,” warning it could ensnare Americans and US companies that do important work with the court.

“This bill would have a chilling effect on the ICC as an institution which could hamper the court’s efforts to prosecute the numerous atrocities that have been perpetrated in many places around the world, from Ukraine to Uganda,” said Rep. Gregory Meeks, the top Democrat on the Foreign Affairs Committee.

The legislation reprimanding the ICC was just the latest show of support from House Republicans for Israel since the October 7 attack by Hamas that ignited the war. Republicans have held several votes related to Israel in recent months, highlighting divisions among Democrats over support for the US ally.

Congressional leaders have invited Netanyahu to address a joint meeting of Congress this summer, which is likely to further inflame tensions over Israel’s handling of the war. Many Democrats are expected to boycott the speech.

Both the ICC and the United

Nations’ highest court, the International Court of Justice, have begun to investigate allegations that both Israel and Hamas have committed genocide during the seven-month war.

Last month, ICC’s prosecutor, K arim K han, accused Netanyahu, his defense minister Yoav Gallant, and three Hamas leaders—Yahya Sinwar, Mohammed Deif and Ismail Haniyeh—of war crimes and crimes against humanity in the Gaza Strip and Israel.

Netanyahu and other Israeli leaders condemned the ICC’s move as disgraceful and antisemitic.

President Joe Biden and members of Congress also lambasted the prosecutor and supported Israel’s right to defend itself.

Israel is not a member of the court, so even if the arrest warrants are issued, Netanyahu and Gallant do not face any immediate risk of prosecution. But the threat of arrest could make it difficult for Israeli leaders to travel abroad.

“Failing to act here in the Congress would make us complicit with the ICC’s illegitimate actions and we must not stay silent,” McCaul said. “We must stand with our allies.”

Indonesia’s leader says first phase of new capital 80% complete and he’ll have an office there soon

By Edna Tarigan The Associated Press

J AKARTA, Indonesia—Indonesian

President Joko Widodo on Wednesday said construction of the first phase of the country’s ambitious new capital is 80 percent complete and he will have an office there once clean water is available next month.

“I am very optimistic about the office.

We are still waiting for one more thing, the water, in July,” Widodo said in front of the construction site of the new presidential palace in Nusantara on the island of Borneo.

Widodo told reporters during his visit to Nusantara that the new capital will be officially inaugurated during celebrations for the republic’s 79th Independence Day in August.

Widodo has been in Nusantara since Tuesday, a day after the surprise resignations of the head of the Nusantara Capital Authority, Bambang Susantono, along with his deputy, Dhony Rahajoe, for unexplained reasons. Widodo said the resignations were “personal” and were unlikely to hamper future foreign investment in the project

already valued at $32 billion.

During his visit, Widodo is inaugurating several construction projects in Nusantara, including a water reservoir. He is also attending groundbreaking ceremonies for schools and universities.

Widodo said Nusantara’s airport is scheduled to be completed by early August.

Construction of the new city began in mid-2022 after Widodo announced that Jakarta would no longer have capital status. The metropolis suffers from pollution and congestion, is prone to earthquakes and is rapidly sinking.

The new capital is to be about twice the size of New York City. Officials say it will be a futuristic green city centered on forests and parks that utilizes renewable energy sources and smart waste management.

But the project has been plagued by criticism from environmentalists and Indigenous communities, who say it degrades the environment, further shrinks the habitat of endangered animals such as orangutans and displaces Indigenous people who rely on the land for their livelihoods.

US launches lobbying blitz to sell Gaza cease-fire plan to Hamas through Arab

By Matthew Lee & Aamer Madhani The Associated Press

WASHINGTON—The Biden administration has launched an intense drive to persuade Hamas and Israel to accept a new cease-fire proposal in the nearly eight-month-old war in Gaza while it also presses Arab nations to get the militant group to go along with the terms. It comes as President Joe Biden suggested in a Time magazine interview published Tuesday that Israeli Prime Minister Benjamin Netanyahu may be prolonging the war against Hamas to ensure his political survival. Biden, who gave that interview a week ago, seemed to dial back his criticism in a brief exchange with reporters following an immigration speech at the White House. In response to a question about whether Netanyahu is playing politics with the war, Biden said: “I don’t think so. He’s trying to work out the serious problem he has.” Netanyahu faces a far-right coalition that has threatened to break up his government if the prime minister agrees to a new cease-fire

and Muslim nations

proposal, which Biden announced Friday as an Israeli plan. Since then, Biden and his top aides have not only pressed for Israel and Hamas to approve the deal but also have been working the phones with Arab and Muslim nations.

Biden, Secretary of State Antony Blinken and national security adviser Jake Sullivan have all made calls, and Brett McGurk, the White House coordinator for the Middle East and North Africa, will be heading to region this week to further make the case for the deal. The plan would aim to free remaining Israeli hostages held by Hamas and lead to the withdrawal of Israeli troops from Gaza in phases.

Since Friday, Blinken has spoken with the foreign ministers of Turkey, Egypt, Qatar, Saudi Arabia, Jordan, the United Arab Emirates, Morocco and Algeria, according to the State Department. Blinken also spoke over the weekend with Israeli Defense Minister Yoav Gallant and Benny Gantz, another member of Netanyahu’s war cabinet.

AP reporter Seung Min Kim contributed from Washington.

www.businessmirror.com.ph

EU elections under threat: AI-powered disinformation campaigns on the rise

BRights group claims Israel has hit residential buildings with white phosphorous in Lebanon

By Kareem Chehayeb The Associated Press

BEIRUT—A global human rights group

claimed that Israel has used white phosphorus incendiary shells on residential buildings in at least five towns and villages in conflict-hit southern Lebanon, possibly harming civilians and violating international law, said a report published Wednesday.

Human Rights Watch said in its report that there was no evidence of burn injuries due to white phosphorus in Lebanon, but that researchers had “heard accounts indicating possible respiratory damage.”

Human rights advocates say it’s a crime under international law to fire the controversial munitions into populated areas.

Israel maintains it uses the white phosphorus only as a smokescreen and not to target civilians.

The white-hot chemical substance can set buildings on fire and burn human flesh down to the bone. Survivors are at risk of infections and organ or respiratory failure, even if their burns are small.

The HRW report includes interviews with eight residents in conflict-hit southern Lebanon, and the group says it has verified and geolocated images from almost 47 photos and videos that show white phosphorus shells landing on residential buildings in five Lebanese border towns and villages.

The Lebanese Health Ministry says at least 173 people have required medical care after exposure to white phosphorus.

The researchers found that the controversial incendiaries were used in residential areas in Kfar Kila, Mays al-Jabal, Boustan, Markaba, and Aita al-Shaab, towns that are among the hardest-hit in eight months of fighting.

The New York-based rights group alongside Amnesty International also accused Israel of using white phosphorus in residential areas in October 2023, less than a month after clashes began between the Israeli military and the powerful Hezbollah group along the southern Lebanon-Israel border, a day after the Israel-Hamas war broke out on Oct. 7.

In its report, HRW called on the Lebanese government to allow the International Criminal Court to investigate and prosecute “grave international crimes” within Lebanon since October 2023.

“Israel’s recent use of white phosphorus in Lebanon should motivate other countries to take immediate action toward this goal,” said HRW Lebanon Researcher Ramzi Kaiss.

More than 400 people have been killed in Lebanon, most of them fighters but also including more than 70 civilians and noncombatants. In Israel, 15 soldiers and 10 civilians have been killed since October. Tens of thousands of people have been displaced on both sides of the border.

New study finds Earth warming at record rate, but no evidence of climate change accelerating

By Seth Borenstein Ap Science Writer

THE rate Earth is warming hit an all-time high in 2023 with 92 percent of last year’s surprising record-shattering heat caused by humans, top scientists calculated.

The group of 57 scientists from around the world used United Nations-approved methods to examine what’s behind last year’s deadly burst of heat. They said even with a faster warming rate they don’t see evidence of significant acceleration in human-caused climate change beyond increased fossil fuel burning.

Last year’s record temperatures were so unusual that scientists have been debating what’s behind the big jump and whether climate change is accelerating or if other factors are in play.

“If you look at this world accelerating or going through a big tipping point, things aren’t doing that,” study lead author Piers Forster, a Leeds University climate scientist, said. “Things are increasing in temperature and getting worse in sort of exactly the way we predicted.”

It’s pretty much explained by the buildup of carbon dioxide from rising fossil fuel use, he and a co-author said.

Last year the rate of warming hit 0.26 degrees Celsius (0.47 degrees Fahrenheit) per decade—up from 0.25 degrees Celsius (0.45 degrees Fahrenheit) the year before. That’s not a significant difference, though it does make this year’s rate the highest ever, Forster said.

Still, outside scientists said this report highlights an ever more alarming situation.

“Choosing to act on climate has become a political talking point but this report should be a reminder to people that in fact it is fundamentally a choice to save human

lives,” said University of Wisconsin climate scientist Andrea Dutton, who wasn’t part of the international study team. “To me, that is something worth fighting for.”

The team of authors—formed to provide annual scientific updates between the every seven- to eight-year major U.N. scientific assessments—determined last year was 1.43 degrees Celsius warmer than the 1850 to 1900 average with 1.31 degrees of that coming from human activity. The other 8 percent of the warming is due mostly to El Nino, the natural and temporary warming of the central Pacific that changes weather worldwide and also a freak warming along the Atlantic and just other weather randomness.

On a larger 10-year time frame, which scientists prefer to single years, the world has warmed about 1.19 degrees Celsius (2.14 degrees Fahrenheit) since pre-industrial times, the report in the journal Earth System Science Data found.

The report also said that as the world keeps using coal, oil and natural gas, Earth is likely to reach the point in 4.5 years that it can no longer avoid crossing the internationally accepted threshold for warming: 1.5 degrees Celsius (2.7 degrees Fahrenheit).

That fits with earlier studies projecting Earth being committed or stuck to at least 1.5 degrees by early 2029 if emission trajectories don’t change. The actual hitting of 1.5 degrees could be years later, but it would be inevitable if all that carbon were used, Forster said. It’s not the end of the world or humanity if temperatures blow past the 1.5 limit, but it will be quite bad, scientists said. Past U.N. studies show massive changes to Earth’s ecosystem are more likely to kick in between 1.5 and 2 degrees Celsius of warming, including eventual loss of the planet’s coral reefs, Arctic sea ice, species of plants and animals—along

By Lorne Cook & Kelvin Chan The Associated Press

RUSSELS—Voters in the European Union are set to elect lawmakers starting Thursday for the bloc’s parliament, in a major democratic exercise that’s also likely to be overshadowed by online disinformation.

Experts have warned that artificial intelligence could supercharge the spread of fake news that could disrupt the election in the EU and many other countries this year. But the stakes are especially high in Europe, which has been confronting Russian propaganda efforts as Moscow’s war with Ukraine drags on.

Here’s a closer look :

What’s happening?

SOME 360 million people in 27 nations—from Portugal to Finland, Ireland to Cyprus—will choose 720 European Parliament lawmakers in an election that runs Thursday to Sunday. In the months leading up to the vote, experts have observed a surge in the quantity and quality of fake news and antiEU disinformation being peddled in member countries.

A big fear is that deceiving voters will be easier than ever, enabled by new AI tools that make it easy to create misleading or false content. Some of the malicious activity is domestic, some international. Russia is most widely blamed, and sometimes China, even though hard evidence directly attributing such attacks is difficult to pin down.

“Russian state-sponsored campaigns to flood the EU information space with deceptive content is a threat to the way we have been used to conducting our democratic debates, especially in election times,” Joseph Borrell, the EU’s foreign policy chief, warned on Monday.

He said Russia’s “information manipulation” efforts are taking advantage of increasing use of social media penetration “and cheap AI-assisted operations.” Bots are being used to push smear campaigns against European political leaders who are critical of Russian President V ladimir Putin, he said.

Has any disinformation happened yet?

THERE have been plenty of examples

of election-related disinformation.

Two days before national elections in Spain last July, a fake website was registered that mirrored one run by authorities in the capital Madrid. It posted an article falsely warning of a possible attack on polling stations by the disbanded Basque militant separatist group ETA.

In Poland, two days before the October parliamentary election, police descended on a polling station in response to a bogus bomb threat. Social media accounts linked to what authorities call the Russian interference “infosphere” claimed a device had exploded.

Just days before Slovakia’s parliamentary election in November, AI-generated audio recordings impersonated a candidate discussing plans to rig the election, leaving fact-checkers scrambling to debunk them as false as they spread across social media.

Just last week, Poland’s national news agency carried a fake report saying that Prime Minister Donald Tusk was mobilizing 200,000 men starting on July 1, in an apparent hack that authorities blamed on Russia. The Polish News Agency “killed,” or removed, the report minutes later and issued a statement saying that it wasn’t the source.

It’s “really worrying, and a bit different than other efforts to create disinformation from alternative sources,” said Alexandre Alaphilippe, executive director of EU DisinfoLab, a nonprofit group that researches disinformation.

“It raises notably the question of cybersecurity of the news production, which should be considered as critical infrastructure.”

What’s the goal of disinformation?

EXPERTS and authorities said Russian disinformation is aimed at disrupting democracy, by deterring voters across the EU from heading to the ballot boxes.

“Our democracy cannot be taken for granted, and the K remlin will continue using disinformation, malign interference, corruption and any other dirty tricks from the authoritarian playbook to divide Europe,” European Commission VicePresident Vera Jourova warned the parliament in April.

Tusk, meanwhile, called out Russia’s “destabilization strategy on the eve of the European elections.”

On a broader level, the goal of “disinformation campaigns is often not to disrupt elections,” said Sophie Murphy Byrne, senior government affairs manager at Logically, an AI intelligence company.

“It tends to be ongoing activity designed to appeal to conspiracy mindsets and erode societal trust,” she told an online briefing last week.

Narratives are also fabricated to fuel public discontent with Europe’s political elites, attempt to divide communities over issues like family values, gender or sexuality, sow doubts about climate change and chip away at Western support for Ukraine, EU experts and analysts say.

What has changed?

FI V E years ago, when the last European Union election was held, most online disinformation was laboriously churned out by “troll farms” employing people working in shifts writing manipulative posts in sometimes clumsy English or repurposing old video footage. Fakes were easier to spot.

Now, experts have been sounding that alarm about the rise of generative AI that they say threatens to supercharge the spread of election disinformation worldwide. Malicious actors can use the same technology that underpins easy-to-use platforms, like OpenAI’s ChatGPT, to create authentic-looking deepfake images, videos and audio. Anyone with a smartphone and a devious mind can potentially create false, but convincing, content aimed at fooling voters.

“What is changing now is the scale that you can achieve as a propaganda actor,” said Salvatore Romano, head of research at AI Forensics, a nonprofit research group. Generative AI systems can now be used to automatically pump out realistic images and videos and push them out to social media users, he said.

AI Forensics recently uncovered a network of pro-Russian pages that it said took advantage of Meta’s failure to moderate political advertising in the European

Union.

Fabricated content is now “indistinguishable” from the real thing, and takes disinformation watchers experts a lot longer to debunk, said Romano.

What are authorities doing about it?

THE EU is using a new law, the Digital Services Act, to fight back. The sweeping law requires platforms to curb the risk of spreading disinformation and can be used to hold them accountable under the threat of hefty fines.

The bloc is using the law to demand information from Microsoft about risks posed by its Bing Copilot AI chatbot, including concerns about “automated manipulation of services that can mislead voters.”

The DSA has also been used to investigate Facebook and Instagram owner Meta Platforms for not doing enough to protect users from disinformation campaigns.

The EU has passed a wideranging artificial intelligence law, which includes a requirement for deepfakes to be labeled, but it won’t arrive in time for the vote and will take effect over the next two years.

How are social media companies responding?

MOST tech companies have touted the measures they’re taking to protect the European Union’s “election integrity.”

Meta Platforms—owner of Facebook, Instagram and WhatsApp—has said it will set up an election operations center to identify potential online threats. It also has thousands of content reviewers working in the EU’s 24 official languages and is tightening up policies on AI-generated content, including labeling and “downranking” AIgenerated content that violates its standards.

Nick Clegg, Meta’s president of global affairs, has said there’s no sign that generative AI tools are being used on a systemic basis to disrupt elections.

TikTok said it will set up factchecking hubs in the video-sharing platform’s app. YouTube owner Google said it’s working with factchecking groups and will use AI to “fight abuse at scale.”

Elon Musk went the opposite way with his social media platform X, previously known as Twitter. “Oh you mean the ‘Election Integrity’ Team that was undermining election integrity? Yeah, they’re gone,” he said in a post in September.

Phoenix adopts ice immersion to combat heat-related deaths as Southwest bakes

By Anita Snow The Associated Press

PHOENIX—The season’s first heat wave is already baking the Southwest with triple-digit temperatures as firefighters in Phoenix—America’s hottest big city—employ new tactics in hopes of saving more lives in a county that saw 645 heat-related deaths last year.

Starting this season, the Phoenix Fire Department is immersing heatstroke victims in ice on the way to area hospitals. The medical technique, known as cold water immersion, is familiar to marathon runners and military service members and has also recently been adopted by Phoenix hospitals as a go-to protocol, said Fire Capt. John Prato.

Prato demonstrated the method earlier this week outside the emergency department of Valleywise Health Medical Center in Phoenix, packing ice cubes inside an impermeable blue bag around a medical

dummy representing a patient. He said the technique could dramatically lower body temperature in minutes.

“Just last week we had a critical patient that we were able to bring back before we walked through the emergency room doors,” Prato said. “That’s our goal—to improve patient survivability.”

The heatstroke treatment has made ice and human-sized immersion bags standard equipment on all Phoenix fire department emergency vehicles. It is among measures the city adopted this year as temperatures and their human toll soar ever higher. Phoenix for the first time is also keeping two cooling stations open overnight this season.

Emergency responders in much of an area stretching from southeast California to central Arizona are preparing for what the National Weather Service said would be “easily their hottest” weather since last September.

Excessive heat warnings were issued

for Wednesday morning through Friday evening for parts of southern Nevada and Arizona, with highs expected to top 110 degrees Fahrenheit (43.3 Celsius) in Las Vegas and Phoenix. The unseasonably hot weather was expected to spread northward and make its way into parts of the Pacific Northwest by the weekend.

Officials in Maricopa County were stunned earlier this year when final numbers showed 645 heat-related deaths in Arizona’s largest county, a majority of them in Phoenix. The most brutal period was a heat wave with 31 subsequent days of temperatures of 110 degrees Fahrenheit (43.4 Celsius) or higher, which claimed more than 400 lives.

“We’ve been seeing a severe uptick in the past three years in cases of severe heat illness,” said Dr. Paul Pugsley, medical director of emergency medicine with Valleywise Health. Of those, about 40 percent do not survive.

Cooling down patients long before they

get to the emergency department could change the equation, he said.

The technique “is not very widely spread in non-military hospitals in the US, nor in the prehospital setting among fire departments or first responders,” Pugsley said. He said part of that may be a longstanding perception that the technique’s use for all cases of heatstroke by first responders or even hospitals was impractical or impossible.

Pugsley said he was aware of limited use of the technique in some places in California, including Stanford Medical Center in Palo Alto and Community Regional Medical Center in Fresno, and by the San Antonio Fire Department in Texas.

Banner University Medical Center in Phoenix embraced the protocol last summer, said Dr. Aneesh Narang, assistant medical director of emergency medicine there.

“This cold water immersion therapy is really the standard of care to treat heatstroke patients,” he said.

A SHELL that appears to be white

Dangerous deception: The urgent need to fight counterfeit drugs

THE recent advisory issued by the Food and Drug Administration (FDA) regarding counterfeit drug products raises serious concerns about the safety and authenticity of medicines available in the market. The FDA’s warning highlights the urgent need for stricter regulations, increased vigilance, and public awareness to combat the growing problem of counterfeit medicines. (Read the BusinessMirror story: “FDA warns public vs counterfeits of common drugs vs fever, pains,” June 4, 2024).

Counterfeit versions of commonly used medications, such as Ibuprofen (Medicol® Advance), Phenylephrine Hydrochloride + Chlorphenamine Maleate + Paracetamol (Bioflu®), and Dextromethor phan Hydrobromide + Phenylpropanolamine Hydrochloride + Paracetamol (Tuseran® Forte), have infiltrated the market. These fake drugs not only deceive consumers but also pose significant risks to their health

The FDA’s role in safeguarding public health is pivotal, and its advisor y ser ves as a crucial reminder to healthcare professionals and the general public to exercise caution when purchasing and using medications. It is imperative to recognize that counterfeit drugs can potentially cause harm to unsuspecting individuals who rely on these medications to manage their health conditions.

One of the most effective measures in combating counterfeit drugs is to purchase medicines exclusively from FDA-licensed establishments. These licensed establishments adhere to strict quality control measures and provide the assurance of procuring authentic and safe medications. Consumers should exercise diligence and verify the legitimacy of the source before purchasing any medication.

Moreover the responsibility to tackle this issue extends beyond individual consumers. Establishments and outlets are warned against selling or dispensing counterfeit drug products. The FDA rightly emphasizes that such actions violate existing legislation, including the Food and Drug Administration Act of 2009 and the Special Law on Counterfeit Drugs. To discourage the illegal production, distribution, and sale of counterfeit drugs, it is necessar y to impose strict penalties on those who are caught engaging in such activities.

The gravity of this issue cannot be understated because counterfeiters not only defraud people but also undermine legitimate drug companies while exacerbating people’s illnesses. It is high time for Congress to formulate legislation that enforces more stringent penalties on individuals involved in drug counterfeiting. By doing so, the government can effectively convey a resolute message that the manufacturing and distribution of counterfeit medications will face zero tolerance. Strengthening the legal consequences for this criminal activity is an important step in deterring the manufacture and sale of counterfeit pharmaceuticals.

It is not only the responsibility of regulator y bodies and the industr y to address this problem. Local government units and law enforcement agencies must collaborate to ensure these counterfeit products are not available in their areas. By increasing sur veillance, conducting regular inspections, and implementing stringent checks, we can detect and prevent the infiltration of counterfeit medicines into the market.

Public awareness campaigns are also crucial in combating counterfeit medicines. The FDA, in coordination with healthcare professionals and consumer advocacy groups, should launch educational initiatives to inform the public about the risks associated with counterfeit drugs. Empowering individuals with knowledge about the potential dangers and providing guidance on how to identify legitimate sources of medication will significantly contribute to public safety.

The proliferation of counterfeit drugs demands immediate attention and collaborative action. The welfare of the population hangs in the balance, compelling us to prioritize the safeguarding of public health above all else. To eliminate counterfeit medicines from our society, it is crucial to take essential measures such as fortifying regulations, implementing stricter penalties, bolstering sur veillance, and fostering public awareness.

How to avoid the Panic

Ambassador Antonio L. Cabangon

E-mail: news.businessmirror@gmail.com www.news.businessmirror@gmail.com Printed by BROWN MADONNA Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila

John Mangun

ROUTSIDE THE BOX

EPUBLICAN Rome is recognized as beginning in 510 BC and reached its zenith of power if not territory size as the “Roman Empire” in AD 180, taking about 700 years. Yet by AD 280— 100 years later—it had lost a huge swath of its conquered Europe of Spain, France and Britain and the Middle East area.

Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

Stock markets can perform similarly. From its bull market run from the 1921 low, it took seven years to the 1929 high But then the market returned to that 1921 low by 1932 or three years top to bottom.

Often t hou g h , i nd i v idu al i ssues per for m i n t he opposite way. A good example i s D i zon CopperSi lver M i nes. DIZ t r aded at P8.50 at t he sta r t of December 2011.

Some four mont h s at t he close of Apri l 2012, t he price was at P60.00 for a move hig her of 600 percent.

Afte r t he peak was reac hed, it was about 13 mont h s later —May 2013 —when t he price f inally came back to P8.50.

PThe reason that individual issues follow this move of up-rapidly and down-slowly is twofold. Buyers on the way up—and at the top—continue to hold the downtrend and ver y often “average” their buying price even with the shares going lower and lower New buyers can also slow the decline as they are constantly looking for and buying what they think is the bottom.

However when the DIZ price peak was hit at the end of April 2012, at the following month ’s close—May 2012 —the price had dropped 41 percent. May 2012 was the “panic selling” for want of a better term.

All prices for ever ything—when supply is relatively stable—is determined by the buyers and their buying. Sellers may choose to ask for any price they think is reasonable but

By Swati Gupta & Dan Strumpf

RIME Minister Narendra Modi’s ruling party is poised to lose its majority in parliament, forcing him to rely on allies to form a government. It’s a stunning blow to a leader who has dominated Indian politics since he first took power a decade ago.

Modi ’s Bharatiya Janata Party was leading in 240 seats, short of the 272 needed to form a government and well behind the 303 it won in the 2019 election. The opposition bloc, known as the Indian National Developmental Inclusive Alliance, was on course to win 229 seats, the results showed. India’s NSE Nifty 50 Index tumbled 5.9 percent, its worst day in more than four years, as it became clear the election outcome would be much closer than expected. Stocks had hit a record high on Monday after exit polls released over the weekend showed Modi would coast to an easy victor y in the marathon, six-week election. Before voting kicked off on April 19, he had boldly predicted that his alliance would win a whopping 400 seats.

“This is not an election—it is a kind of political earthquake,” said Niranjan Sahoo, senior fellow with the New Delhi-based Obser ver Research Foundation who has written several

books on Indian politics. “Even if Modi becomes the prime minister, his position will be diminished to a great extent. He will not be the same Modi.”

Mod i now needs to sec ure t he suppor t of two key members of hi s broader Nat ional Democ r atic All i ance who cont rol some 3 0 seats—enou g h to fl ip t he balance of power i n pa rl i ament. Leaders of t hose two pa r t ies h ave a hi stor y of sw itc hi ng sides, and only joi ned up w it h Mod i a few mont h s ago, mak i ng it u nclea r whet

of

machine. A

and caste-based groups, the alliance focused on appealing to voters who felt left out of India’s growth stor y, which has been marked by growing inequality, pervasive joblessness and

All prices for everything—when supply is relatively stable—is determined by the buyers and their buying. Sellers may choose to ask for any price they think is reasonable but that does not determine the price. A price is set only when the buyers buy. Further, there are always sellers at the department store and at the stock market.

that does not determine the price.

A price is set only when the buyers buy. Further, there are always sellers at the department store and at the stock market.

Stock price bottoms are found when buyers begin to buy. Price tops are determined when there are no more buyers. Sellers can of course hold off selling when they think that the price will go higher based on the buying that they see. An example is Bitcoin where many holders will not sell until the price reaches $100,000.

But it will still take buyers who are willing to pay $100,000 for the price to reach that level regardless of the “limited” quantity.

W h at h appens in t he stock ma rket is t h at event u ally a price level is reac hed where t here a re no longer buyers post ing bids at a higher price t h an t he last t rade. T he bid and t he offer (Ask) a re in balance.

All it takes is a few sellers to hit

Modi now needs to secure the support of two key members of his broader National Democratic Alliance who control some 30 seats—enough to flip the balance of power in parliament. Leaders of those two parties have a history of switching sides, and only joined up with Modi a few months ago, making it unclear whether they will stick with him or back the opposition bloc.

rising living costs. After the results became clear Gand hi said the election showed that voters don’t want Modi to run the countr y. The opposition alliance would meet on Wednesday to discuss next steps, he added. “We do not like the way they have run this country for the last 10 years,” Gandhi told reporters on Tuesday.

“That is a huge message to Mr Narendra Modi.”

The result is a disappointment for the 73-year-old leader who has been the main face of the BJP’s election campaign and built the party primarily around himself. Besides raising questions about Modi ’s own future as prime minister, a weak co-

t he bid” for prices to beg in to fall.

Buyers t hen w i ll lessen t heir ent hu si asm even more and m ig ht walk away ent irely wa it ing for t he price to go down. At the close six days after the DIZ high was reached, the price had dropped a total of 40 percent. In the first two days after

to increase. The opposite of “confidence” is hope.” Hope is not an investment strategy. W hen you begin to have that funny feeling about the price movement or about your greed, sell out and avoid the panic.

Is there a panic period coming? You never know for sure.

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

alition government will likely make it difficult for him to push through tough economic reforms or further his Hindu nationalist agenda assuming he returns to power T h e lackl u ste r pe r fo r mance marks the first major setback at national polls for Modi He had looked unbeatable heading into the election, backed by one of the world’s fastestgrowing economies and the fulfillment of key promises appealing to India’s Hindu majority, including the building of a temple on the site where a 500-year-old mosque had been torn down.

Signs of trouble for Modi emerged after the first of seven rounds of voting. A dip in turnout triggered a broad get-out-the-vote effort that saw Modi adopt a more strident tone, firing up his Hindu nationalist base with divisive anti-Muslim rhetoric and attacks on the opposition’s welfare policies.

Modi had appealed to India’s 1.4 billion people with a combination of business-friendly policies, welfare measures for the poor and Hindu nationalist policies. He had pledged more of the same in his third term, vowing measures to create jobs while also replacing India’s religion-based marriage and inheritance laws with See “Modi,” A

Myanmar’s shadow govt flags deepening economic turmoil

MYANMAR’S collapsing currency, plummeting dollar reserves and soaring inflation are pushing the economy deeper into crisis, estimates by the shadow National Unity Government show.

T he kyat h as plu nged almost 70 percent against the dollar since 2021, fore i gn-c urrency rese r ves have dropped to about $3.8 billion or lower and inflation has stayed at double digits, according to Tin Tun Na ing, t he shadow gover nment’s minister for planning, finance and investment.

Junta spokesman Major General Zaw Min Tun said the information is baseless and released with the aim of destabilizing the economy. “It’s necessar y to obser ve only the statistics officially released by gover nment organizations,” he said.

The NUG’s estimates provide a more recent update on Myanmar’s economic conditions than official figures. The militar y regime last provided data in Januar y for the fiscal year ended March 2023, saying that gross domestic product growth was 3.4 percent for the period, dollar reser ves were at $12.1 billion and inflation was 24.4 percent.

Myanmar’s militar y regime has resorted to printing money to finance its defense operations, spurring inflation, the NUG’s Tin Tun Naing said at a briefing late Monday that was attended by foreign media and United Nations officials. Remittances from nationals working overseas have declined by about 50 percent in recent months from a monthly average of about $100 million, he said. A possible full sanction by the Financial Action Task Force later this month would increase pressure on the junta’s finances, he said.

The shadow group, mainly composed of lawmakers who escaped after the 2021 coup against a civilian government led by Aung San Suu Kyi, is aligning itself with ethnic armed forces fighting against the junta, the NUG official said. The militar y regime has been losing ground in the past year, hit by defections.

Escalating clashes risk extending the state of emergency that the ruling junta has imposed since 2021, and further derailing its pledge to hold an election.

Instability is “partly driving the collapse in the exchange rate and it’s driving the countr y’s inflation rates,

Myanmar’s military regime has resorted to printing money to finance its defense operations, spurring inflation, the NUG’s Tin Tun Naing said at a briefing late Monday that was attended by foreign media and United Nations officials. Remittances from nationals working overseas have declined by about 50 percent in recent months from a monthly average of about $100 million, he said. A possible full sanction by the Financial Action Task Force later this month would increase pressure on the junta’s finances, he said.

which are dramatically higher than any other country,” said Sean Turnell, who prev iously adv ised the jailed ex-leader Suu Kyi and remains an economic consultant to the shadow government. He said 70 percent of the budget deficit was financed by money printing, taking its toll on the currency.

He blamed the junta’s creation of multiple exchange rates for the kyat’s plunge, boosting gold prices as citizens opt to buy the precious metal and the dollar, if they can.

W hile the Central Bank of Myanmar has kept the exchange rate at 2,100 kyat per dollar, it’s using an average rate of 3 340 kyat on its online trading platform and has allowed an average rate of 3,520 kyat for remittances. At the same time, gold prices are 16 percent higher than the official reference rate of 487,100 kyat per tical, a unit of measurement used in Myanmar

“The market certainly won’t collapse but it could be forced underground,” Turnell said of the foreigncurrency market.

The junta announced on Tuesday it’s taking action against those who made dollar and gold prices unstable by arresting manipulators and issuing arrest warrants to some moneychangers and gold shop owners. Bloomberg

Russia cuts oil exports after pledging redress for excess output

By Julian Lee

RUSSIA’S four-week average crude exports fell for a fourth week, with shipments hitting the lowest level since mid-February before a meeting of the Opec+ producer group that was held on Sunday.

Russia had pledged to compensate for over production against its April output target, which it blamed on the “technicalities’’ of making significant output cuts. Falling crude exports may indicate that Moscow is following through on its promise, though production and exports are not perfectly correlated.

Expor ts i n Ap ri l we re about 120,000 barrels a day above a target set for that month, but flows in May fell about 170,000 below a separate, less restrictive, goal. From this month, Russia no longer has an export target after it came into line with its Opec+ colleagues and replaced a complicated combination of production and exports ceilings with simplified output-only limits that are preferred by the group.

T h o u g h weekly expo r t volumes were stable, a small gain in prices saw the gross value of Russia’s shipments edge higher in the seven days to June 2.

The Kremlin continues to test USled restrictions on its oil shipments. Russia is developing closer relationships in the Middle East, most recently adding Oman to its growing list of partners in the region. Moscow already co-chairs a key committee of the Opec+ group of oil producers with Saudi Arabia, while much of the trading of Russian oil moved to the United Arab Emirates after being shut out of Europe following Moscow’s 2022 invasion of Ukraine. With ship-to-ship transfers off Greece hampered by naval exercises in the bay favored for such activities, switches are taking place elsewhere, w ith several cargoes moved from one vessel to another off the coast of Oman and, more recently, near Morocco.

Separately, two sanctioned Russian tankers have loaded cargoes

continued from A

a unifor m civ il code—a measure that Muslims, Christians and other minorities oppose because it would prevent them from adhering to some faith-based laws.

T hose more contentious proposals may now be off the table. T he re-

of crude at Novorossiysk in recent weeks. T he Bratsk, until recently named the NS Burgas, took on about 1 million barrels of Urals crude on May 23 and is now headed through the Red Sea, bound for Singapore. The first sanctioned vessel to load, the SCF Primor ye, disappeared for about two weeks from AIS tracking east of Singapore, a popular location for hidden ship-to-ship oil transfers. If the cargoes ultimately end up being del ivered to oi l ref ineries, it could pave the way for other sanctioned tankers owned by state-controlled Sovcomflot PJSC to return to work. The company has renamed and reflagged at least 10 of its 21 ships that were listed by the US Treasur y Depa r tment for breac hing a G7led price cap on Russian oil.

Crude shipments

A TOTAL of 29 tankers loaded 22.53 million barrels of Russian crude in the week to June 2, vessel-tracking data and port agent reports show. That was virtually unchanged from 22.54 million barrels the previous week.

Russia’s seaborne crude flows in the week to June 2 were steady at 3.22 million barrels a day. The less volatile four-week average fell, down by about 115,000 barrels a day to 3.27 million, for the fourth straight decline.

Fewer shipments from the Black Sea port of Novorossiysk and the Pacific ports of Kozmino and De K astri  were partly offset by two more departures from the Arctic terminals at Murmansk.

Crude shipments so far this year are running about 5,000 barrels a day above the average for 2023

Russia told Opec+ that it would cut crude exports during May by 71,000 barrels a day from their average May-

sults also call into question whether Modi would have the political capital to implement contentious changes to land and labor laws, as well as a slew of other refor m measures needed to achieve his goal of tur ning India into a developed nation by mid-centur y. Even w ith a reduced mandate or a change in government, India’s growth trajector y should largely re-

June level. Weekly shipments were about 290,000 barrels a day below the target, while the four-week average was about 245,000 barrels a day below. Seaborne shipments in the first three months of the year exceeded Russia’s target level for that period by just 16,000 barrels a day, while April flows were about 120,000 barrels a day above that month ’s target. Russia has no oil export targets beyond the end of May.

Opec+ oil ministers met on June 2 and agreed to stretch  most output targets to the end of 2025. The group decided to extend the second round of voluntar y reductions, to which Russia eventually contributed 471,000 barrels a day, only until the end of September After that, they will be relaxed over the following 12 months, as long as market conditions allow.

T hree cargoes of K azak hstan’s KEBCO were loaded at Novorossiysk during the week.

Flows by destination

Asia

Obser ved shipments to Russia’s Asian customers, including those showing no final destination, fell to an eleven-week low of 2.93 million barrels a day in the four weeks to June 2, from 2.99 million in the four-week period to May 26.

About 1.09 million barrels a day of crude was loaded onto tankers heading to China. The Asian nation’s seaborne imports are boosted by about 800,000 barrels a day of crude delivered from Russia by pipeline, either directly, or via K azakhstan.

Flows on ships signaling destinations in India averaged about 1.53 million barrels a day.

Bot h t he C hi nese and Ind i an figures are likely to rise as the discharge ports become clear for vessels that are not currently showing final destinations.

The equivalent of about 180,000 barrels a day was on vessels signaling Port Said or Suez in Egypt. Those voyages typically end at ports in India or China and show up as “Unknown Asia” until a final destination be-

main positive. Business leaders from Elon Musk to Jamie Dimon have hailed India’s potential as an alternative to China, with some economists projecting that the nation’s $3.5 trillion economy can become the largest contributor to global growth within the next five years. “As far as economic policy is concer ned, f iscal backsliding I think is a risk,” sa id Shu m ita Sh a r ma

comes apparent. The “Other Unknown” volumes, running at about 130,000 barrels a day in the four weeks to June 2, are those on tankers showing no clear destination. Most orig inate from Russia’s western ports and go on to transit the Suez Canal, but some could end up in Turkey. Others may be moved from one vessel to another, with most such transfers now taking place in the Mediterranean, or more recently off Morocco.

Russia’s oil flows continue to be complicated by the Greek navy carrying out exercises in an area that’s become synonymous with the transfer of the nation’s crude. The activities, which briefly halted on May 19, resumed and ran until June 3

Europe and Turkey

RUSSIA’S seaborne crude exports to European countries have ceased, with flows to Bulgaria halted at the end of last year Moscow also lost about 500,000 barrels a day of pipeline exports to Poland and Germany at the start of 2023, when those countries stopped purchases. Turkey is now the only short-haul market for shipments from Russia’s wester n ports, w ith flows in the 28 days to June 2 slipping to about 340,000 barrels a day.

Export value THE gross value of Russia’s crude exports edged higher to $1.57 billion in the seven days to June 2 from about $1.56 billion in the period to May 26, aided by a small increase in prices. In contrast, four-week average income was down, dropping by about $72 million to $1.59 billion a week, the lowest it’s been since Februar y. The four-week average peak of $2.17 billion a week was reached in the period to June 19, 2022. During the first four weeks after the Group of Seven nations’ price cap on Russian crude exports came into effect in early December 2022, the value of seaborne flows fell to a low of $930 million a week, but soon recovered. With assistance from Sherry Su / Bloomberg

Deveshwar, senior director of Ind i a Resea rc h at Global Data.TS Lombard. “Apar t from that I actually don’t see much of a change in ter ms of refor m policies. Even w ith a strong majority, Modi was unable to implement much of the so-called big bang refor ms.” With assistance from Debjit Chakraborty, Akriti Sharma, Shruti Srivastava, Menaka Doshi, Rakesh Sharma and Preeti Soni /Bloomberg

Nigel Farage barrels into UK campaign as Sunak faces first debate against Starmer

NBy Alex Morales, Ellen Milligan and Alex Wickham

IGEL FARAGE’S critics call him a “shameless opportunist.”

On Monday, the Brexit architect picked the perfect moment to deal Rishi Sunak a gut punch—the day before the first TV debate of the UK election campaign and just as a major poll put the prime minister’s ruling Conservatives on track for a historic rout.

With trademark chutzpah, Farage convened wh at he called an “emergency” press conference i n London to tell repor ters t hat he wou ld, in fact, be standing as a candidate for his Refor m UK par ty in the election—reversing a decision from less than two weeks ago that helping Donald Trump back into the W hite House in the US presidential election in the autumn was a better use of his time. In the space of a few telev ised minutes, Farage tur ned Conser vative politicians—who were already despondent about t heir c h ances of over tur ning the Labour Par ty’s 20-plus lead in the polls—close to despair

“W hat I’m really calling for—or what I intend to lead—is a political revolt,” Farage told the packed conference room, using the British flag as a backdrop. He said he planned to seek election in Clacton, the coastal town in easter n England where one of his prev ious political par ties enjoyed its g reatest success. “Nothing in this countr y works anymore.”

Farage’s initial decision not to run had been an early bright spot in the campaign for Sunak after he sur prised Westminster obser vers by calling a snap election on Ju ly 4. T he Tories have spent the f irst two weeks of the campaign tr y ing to w in back traditional Tor y voters who have sw itched or are tempted by Refor m. In another pitch for right-w ing suppor t, people familiar w ith the matter told Bloomberg that Sunak is considering hardening the Conser vatives’ stance on the European Convention on Human R ights—a bugbear of right-w ing voters who blame it for the gover nment’s struggle to lower immig ration.

T he strategy was designed to address Tor y fears that a split in the right-w ing vote wou ld allow Labour an easy path to v ictor y.

T he dange r t h at 14 yea r s of Conser vative gover nance w ill end not just in defeat, but a rout, was high l ighted by YouGov model ing released just an hour after Farage’s announcement: Labour is heading

for a historic majority—bigger even than that secured by the party under Tony Blair in the 1997 landslide—in the vote on Ju ly 4, according to the polling company.

YouGov’s project ion puts Labour on 422 seats—four more than Blair—and the Tories losing more than 200 seats and securing just 140.

T hat wou ld g ive current leader Keir Star mer’s par ty a 194-seat majority; for the Tories, it wou ld be their worst defeat since 1906.

Earlier a Bloomberg composite sur vey based on data from 11 polling companies gave Labour a lead of more than 20 points. Sunak and Star mer are set to face each other Tuesday night in an IT V debate, the f irst of the campaign. With the prime minister distracted on the Tor y right flank, the Labour leader is building a campaign around appealing to more centrist voters, seek ing to annex traditional Tor y territor y by emphasizing his credentials on national security and manag ing the economy.

Star mer w ill meet w ith pensioners in the Nor th West of England on Tuesday to discuss the impact that the energy crisis has had on them and arg ue that his plan to create a public clean energy company w ill allow the UK to be less dependent on overseas fossil f uels.

Despite Labour’s lead—often in excess of 20 points—many Tories

Though Farage, 60, has lost in seven previous attempts to win a parliamentary seat, he has maintained considerable sway in British politics and kept Westminster guessing for months about whether he would stand in the election—even from thousands of miles away on a reality TV set in an Australian rainforest.

are more concerned about the threat from the right posed by Refor m, which a year ago stood at around 5 points and now polls more than double that.

It’s why Sunak has focused so much on the Refor m threat, w ith early campaign promises to bring back compu lsor y national ser v ice for teenagers, tax g uarantees for pensioners, and a plan to rew rite the Equality Act to change the def inition of “sex” to “biolog ical sex”—all aimed at the political right-w ing. On Tuesday, Sunak will announce that he wou ld introduce an annual cap on v isas in an effor t to stem mig ration, though he won’t set out a precise f ig ure. T he policy appears to be a direct response to Farage who’s long put pressure on the Conser vative Par ty to clampdown on immig ration.

B u t t h e st r ategy was p r ed icated on Fa rage not stand ing. His

d ramat ic U-t ur n—he’ll off ic i ally lau nc h his cand idacy in Clacton on Tuesday— suggests Su nak and his team have made a tact ical error, accord ing to Conser vat ive a ides who spoke on cond it ion of anonym ity about t heir pa r ty’s faltering campa ign.

One said Farage’s retur n was a disaster for the Tories, while another said Sunak’s early policy announcements w i ll have alienated centrist voters while doing little to shore up suppor t from voters who w ill now opt for Refor m. Anot her staffer described t he Conser vative Par ty as f inished, and said Tor y defections to Refor m were now likely because Farage fronting the campaign g ives it leg itimacy. As well as becoming a Refor m UK candidate, Farage also said he would be the par ty’s leader for f ive years, replacing R ichard Tice.

“T his is nothing shor t of a disaster for the Conser vative Par ty: eve r yt hi ng about t hi s elect ion, from the timing to the apparent strategy, was aimed at squeezing Refor m UK’s vote,” Chris Hopk ins, political research director at pollster Savanta, said in a statement.

“With Farage’s announcement that is now much harder, and R ishi Sunak has nowhere to go - politically or electorally.”

With the Tories already struggling in the polls, Sunak’s team has

been look ing for game-changers.

One is the potential move on the ECHR, which is blamed by rightw ingers for preventing a harsher crackdown on asylum-seekers.

But he risks an inter nal f ight in the Tor y party that could exacerbate his problems. Some Conser vative adv isers are calling for Sunak to commit to work ing w ith European par tners to refor m the convention, or failing that, leave it. Other Tories have prev iously called for a referendum on Britain’s membership of the ECHR. Many on the moderate side of the party—including several Cabinet ministers—oppose leav ing the body. Meanwhile, Farage made clear he is also targeting Labour, though he said Starmer’s party would claim victor y on Ju ly 4. “Keir Star mer—yes he’ll w in, but we’re absolutely going to make sure that his percentage is a lot smaller than it is now,” he said.

T hough Farage, 60, has lost in seven prev ious attempts to w in a parliamentar y seat, he has maintained considerable sway in British politics and kept Westminster g uessing for months about whether he wou ld stand in the election— even from thousands of miles away on a reality T V set in an Australian rainforest.

“T his election needs a bit of g ingering up,” Farage said. With assistance from Joe Mayes and Isabella Ward /Bloomberg

Thursday, June 6, 2024

I N a bid to build more trust in electronic transactions, the Bangko Sentral ng Pilipinas (BSP) has issued a circular that expanded the Manual of Regulations for Payment Systems (MORPS) to include a section that strengthens its consumer recourse mechanisms for digital payments.

In Circular No. 1195 series of 2024, the BSP added a Section 1104 in the MORPS to focus on standards for acount-to-account electronic fund transfers (EFTs) made under the national retail payment system (NRPS) framework.

The new regulations will apply to clearing switch operators (CSOs) and Automated Clearing House/s (ACH) participants that provide domestic acountto-account EFTs as defined under the NRPS.

“The use of electronic payments continues to expand and is expected to steadily grow.With the increased adoption of digital payment services, the Bangko Sentral recognizes the need to ensure that Bangko Sentral-Supervised Institutions [BSIs] that offer EFTs through their participation in the ACH provide appropriate and timely consumer recourse mechanisms on issues lodged by consumers,” the circular read.

“Defined industry-wide actions and expectations on clearing switch operators [CSOs] and ACH participants for the timely resolution of consumer concerns relating to EFTs build trust and confidence in the use of digital payments,” it added.

Based on the circular, the credit to the beneficiary’s account for near-real time EFTs is within 2 to 3 seconds from receipt of clearing advice by the RFl from the CSO.

For batched EFTs, the turnaround time shall not exceed two hours from receipt

of the clearing advice by the Receiving Financial Institution (RFI) from the CSO or not later than the next settlement cycle for multiple settlement cycles.

In terms of the return of funds, for instant retail payments and similar use cases, the amount debited from a sender’s account should be returned to a sender’s account within one house from receipt of the sender’s instruction.

For batch clearing and settlement, the amount debited from the sender’s account shall be returned to the sender’s account within two hours from receipt of settlement from the CSO for rejected and returned transactions.

Per the circular, in the case of multipledebit transactions and unsuccessful transactions as a result of lapses in controls of the Originating Financial institution (OFI), the amount will be returned within an hour from receipt of sender instruction for instant payment and within two hours from receipt of settlement report from the CSO for batch clearing and settlement of payment items.

The circular stressed that in the case of the collectionandreturnofETFfees,sendersshould not bear fees for unsuccessful transactions.

In the case of disruptions in services and operations, the BSP said that CSOs must notify the supervising department of the BSP and the ACH participants on the scheduled or unscheduled downtime.

The ACH participants would also have to issue consumer notifications on the scheduled or the occurrence of unscheduled downtimes. They must also provide periodic notification on the status or reason or the expected period of these downtimes.

Targets in export devt plan face scaledown, says DTI

By Andrea E. San Juan @andreasanjuan

T“We m ight temper it down. Because when we were d raft ing t he PEDP [it was] t he time t hat we were recovering f rom t he pandem ic. So t he t rend was really going up,” Department of Trade and Industr y-Expor t Ma rket ing Bureau (DTI-EMB) Director Bianca Pea rl R. Syk imte told

Filipino and English, “[Exports have been somewhat tempered] so we m ight have to temper [t he plan].”

She sa id t he PEDP conta ins ta rgets whic h a re “more ambit ious” compa red to t he ta rgets set in t he Philippine Development Plan (PDP) 2023 -2028.

“Because we issued t he PDP f irst and in t he PDP, t he targets are more tempered because it was d rafted

RBy Nonie Reyes

APID

ea rl ier In ter ms of PDP ta rgets we a re act u ally hitt ing, [it’s just t he] PEDP t hat is intended to be more ambit ious,” sa id Syk imte. Under t he PDP t hese a re t he total expor t ta rgets: For 2024, $107 billion; 2025, $113.42 billion; 2026, $120.22 bi ll ion; 2027, $127.44 bi ll ion and for 2028, $135.08 bi ll ion.

Meanwhi le, under t he count r y’s

Expor t Development Plan, t hese a re t he ta rgets: For 2024, $143.4 bi ll ion; 2025, $163.6 bi ll ion; 2026, $186.7 bi ll ion; 2027, $212.1 bi ll ion and 2028, $240.5 bi ll ion. However, t he Trade off ic ial sa id that whi le there are plans to temper down t he ta rgets for t he count r y’s outbound shipments, “We a re not yet recal ibrat ing. We w i ll, but t iming-w ise, we a re not yet able to explore t he recal ibrat ion of ta rgets.”

“But def initely, we w i ll. We had d i sc u ss ions al ready t h at maybe

HE export targets set in the Philippine Export Development Plan (PEDP) might be tempered down as government officials and stakeholders take into account the international prices of agricultural goods, among others. Razon-led Prime Infra’s arm unveils ₧1-B Porac facility CONSUMER REDRESS SYSTEM IN DIGITAL PAYMENTS BOOSTED

coincided with the launch of the waste facility. It is truly inspiring, she said, to witness private companies and corporations as well as government, national and local, coming together for a healthier safer and cleaner environment.

According to the DENR chief, the Philippines alone generates about 61,000 thousand metric tons of waste

in the DENR...applaud the investment of Prime Integrated Waste Solutions Inc. and the local government for taking this big step together We look forward to seeing more such facilities in the future, and we’re here to support each and every LGU in their journey towards a climate-resilient and environmentally safe future,” she added.

Ca ra Peralta, Sector Head of t he Waste Fac i l ity Unit, sa id t he Pampanga fac i l ity can accommodate up to 5,000 tons per day of mu nic ipal sol id waste. “We comm it to recover and recycle up to 80-90 percent of total waste received. We look forwa rd to ser v ing you and becom ing pa r tners in t his jour ney, and to meet Prime Inf ra’s orig inal object ive of

a possibility for the future, but right now they want to focus on “perfecting our mixed municipal Solid Waste processing.” PWS uses state-of-the-art equipment procured from Europe and Asia such as vibrating sieves, baler systems, magnetic separators, as well as air density separator to maximize resource recover y. T he facility is able to take in Organics Plastic specifically and put it through a shredding process so it becomes a refuse-derived fuel. T he refuse-derived fuel is an alter na-

By Claudeth Mocon-Ciriaco @claudethmc3

Editor: Jennifer A. Ng

Innovation, alliances to keep PHL auto sector afloat—DTI

By Andrea E. San Juan @andreasanjuan

LOCAL car makers should “continuously innovate” as the global automotive industry could see tepid growth until 2027, according to the Department of Trade and Industry (DTI).

DTI-Export Marketing Bureau Director Bianca Pearl R. Sykimte issued this statement during the opening of the first Auto Parts & Vehicles Expo Philippines (APVE) in Pasay City on Wednesday.

The DTI also said industry players must take advantage of the three-day trade show to “connect and reconnect with industr y partners, strengthen and forge new partnerships and learn from and contribute to discussions on issues and trends impacting auto parts in the vehicle industr y.”

Citing a report published by Euromonitor International in November 2023, Sykimte said the global automotive industr y is projected to recover from the supply shocks experienced from 2020-2022, but will experience slower growth over the next few years until 2027.

“Cost pressures, weaker consumer demand, especially in the large markets and slower global economic growth, will continue to impact the industr y,” said Sykimte.

The report noted that the global auto industr y will continue to feel “significant” cost pressures because of rising labor costs and the switch to electric vehicles.

“Aging populations and low unemployment rates in t he la rgest economies will continue to increase operating costs, while the production of electric vehicles will require higher investment and R&D [research and development] costs,” the Euromonitor report noted.

With this, “supply chain optimization efforts” are expected to continue, as a result of rising geopolitical tensions.

“Car manufacturers are anticipated to create smaller networks of semi-independent suppliers to reduce risks. In addition, car manufacturers are expected to increase vertical integration efforts and collaborate more with mining, chemical and technology companies,” the report also noted.

Further, Sykimte noted that rising operating costs and the need for large-scale investments, especially in the electric vehicle (EV ) industr y are expected to continue to drive consolidation in the automotive industr y.

“To share investment costs, companies are expected to form alliances, and intensify acquisitions of smaller component suppliers,” the report read.

T he Tr ade off ic i al sa id t hese trends continue to unfold in the first half of the year with more recent production cuts, trade tensions and new alliances.

“These actually provide reasons for both optimism on the near- to medium-term prospects in the global automotive parts development,” said Sykimte, adding that trade shows like the APVE are always a “good reminder” to forge strong partnerships amid a highly competitive” industry.

The first-ever Auto Parts and Vehicles Expo Philippines, which will run from June 5 to 7 at the World

Magsaysay Shipping ties up with VCT

By Lorenz S. Marasigan @lorenzmarasigan

MAGSAYSAY Shipping and Logistics (MSL), through its subsidiar y One Stop Logistics Solutions Inc. (OLSI), has entered into a partnership with Visayas Container Terminal ( VCT) for the inauguration of a state-of-the-art crossdock and consolidation facility within the port’s business hub in Iloilo City. This crossdock facility, spanning 6,912 square meters, is strategically located in Central Philippines, enhancing OLSI’s ser vice capabilities in the Panay Islands and making the company more accessible to clients shipping goods from Manila.

“This fortifies our capability to ser ve more volumes and improve further our metrics to our custom-

ers. We see exciting growth in Iloilo which we want to capitalize on as a g roup,” OLSI General Manager Miguel Gutierrez said.

The facility is expected to streamline domestic cargo operations and potentially facilitate last-mile deliveries for international shipments.

“We thank VCT for this opportunity to set up shop w ithin the terminal,” MSL President and CEO Jesse Maxwell said. “Its location is strategic, where we can ser ve domestic cargo seamlessly then possibly explore last mile deliveries for international goods as well.”

For his part, VCT Executive Director Timothee Jeannin noted the added value brought by Magsaysay’s crossdocking activities.

“Their crossdocking activities and tactics bring significant added value to the shipping lines and consignees

of our terminal. Magsaysay has been able to put in place a close coordination and high-quality information flow among t he manu fact urers, distributors, and customers they are already working with in such a short period of time.”

OLSI currently manages eight facilities across Bacolod, Cagayan de Oro, Cebu, Davao, Iloilo, Metro Manila (Malabon and Valenzuela), and Tacloban, offering efficient inbound and outbound deliver y networks and storage spaces to support their customers’ needs.

Operated by International Container Terminal Ser vices Inc., VCT is a modernized port facility that enhances connectivity and boosts reg ional trade, transfor ming t he Iloi lo Commerc i al Por t Complex into a competitive trade gateway for Western Visayas.

ATRAM unveils investment fund offerings

INDEPENDENT asset management company ATRAM Tru st Co r p. (ATRAM) anno u nced it h as lau nc hed 10 new i nvestment f u nd offe ri ngs follow i ng t he t r ansfe r of Pru L i fe U K Asset Management and Tru st Co r p.’s f idu c i a r y assets.

ATRAM said it reshaped its portfolio and rebranded and optimized its newly acquired funds as “a reflection of its commitment to providing diversified investment options.”

“The 10 rebranded funds complement ATRAM’s existing offerings, addressing gaps for clients’ diverse risk tolerance, investment horizons, and thematic preferences,” the company said.

The ATRAM Peso Liquid Fund is a conser vative fund investment option prioritizing capital preser vation, through investments in lowrisk, shor t-ter m Phi l ippi ne peso instruments.

For

nment

qu al ity

fixed-income options.

ATRAM also offers the USD Developed Markets Multi-Asset Fund of Funds, which strategically allocates across global equities and US investment-grade securities, providing a single solution for balanced growth opportunities.

Investors with a more aggressive stance can explore the ATRAM Philippine Balanced Fund, which pursues long-term growth through a mix of money-market instruments, fixed income and Philippine equities. Similarly, the ATRAM USD Global Technology Leaders Feeder Fund also targets substantial long-term gains in the technology sector, appealing to investors seek ing high-growth opportunities.

The ATRAM USD Total Return Bond Fund, meanwhile, caters to moderate investors, seeking consistent income and moderate growth through a portfolio of liquid, Philippine peso-denominated government and cor porate bonds. Moreover the ATRAM USD Asian High Yield Bond Feeder Fund pro-

vides an opportunity for investors seeking high yields by investing in non-investment grade cor porate securities of Asian companies.

ATRAM also offers specialized funds like the Philippine Equity Index Tracker Fund, designed to mirror the performance of the Philippine Stock Exchange index (PSEi) and capitalize on Philippine equity market movements.

The company said its Long Term Peso Bond Fund targets moderatelyaggressive investors, providing exposure to long-term bonds and opportunities to capitalize on interest rate swings.

Its Phi l ippi ne Equity Leaders Fund focuses on capturing the top Philippine companies in the PSEi offering investors an opportunity to capitalize on the leaders of the Philippine market.

B1

Napocor awaits ERC approval for rate hike

By Lenie Lectura @llectura

Trade Center in Pasay City, is expected to gather 4,000 prospective buyers and sellers from across the countr y and Southeast Asia.

Accord ing to Infor ma Ma rkets, t he organ i zer of t he t rade show, t he auto pa r ts and vehicles t rade show w i ll ser ve as a “t imely platfor m” for local and inter nat ional suppl iers to convene for t rad ing, network ing, and exc h ange of ideas and innovat ions about automot ive pa r ts, accessories, ma i ntenance equipment, and tools.

“The first-ever APVE Philippines is designed to be a game-changing platform aimed at congregating industr y leaders, buyers, sellers, and representatives from the gover nment to unlock emerging and potential growth opportunities in the auto parts sector,” said Rungphech Chitanuwat, General Manager in the Philippines of Informa Markets.

Chitanuwat said APVE is also relevant” to several related industries like mining, construction, logistics, transportation and agriculture.

“Just like in other nations across the region, the auto parts sector in the countr y is ver y promising as it is bolstered along with robustly growing vehicle sales.”

THE National Power Corp. (Napocor) is awaiting the green light of the Energy Regulator y Commission (ERC) for an P0.08 per kilowatt-hour (kW h) increase in subsidized approved generation rates (SAGR) for the Small Power Utilities Group (SPUG).

The state firm, as mandated by the Electric Power Industr y Reform Act of 2001, provides electricity in remote areas not connected to the grid, including SPUG. It currently operates 281 SPUG plants in 35 provinces.

The P0.08 rate hike would be utilized to purchase the needed fuel for the SPUG plants. According to Napocor President Fernando Martin Roxas, the state firm badly needs the rate hike “or else we will run out of funds for next year’s fuel.”

“Essentially, this was already filed with the ERC. W hat we are charging now is still the 2014 rates and we have since filed ever y year So, that’s 10 years worth of filing already,” he said. Napocor already borrowed P15 billion to pay for its fuel cost. “We are using that money to make sure that fuel gets paid. Unfortunately, just for this year alone, we will need an increase of about 8 centavos per kwh or else, the money that we bor-

rowed would run out and diesel cost is increasing,” said Roxas.

The state firm has proposed a hybrid i zat ion prog ram t h at w i ll allow private companies to build renewable energy (RE) facilities in off-grid areas.

“In essence, a portion of the electricity that Napocor would have produced using its diesel power plant will be replaced with the generated electricity by the RE facility of the REPP [renewable energy power provider] which in turn reduces the cost to Napocor and the government,” Roxas said.

The proposed entr y of the private sector will augment and replace the current capacity of the SPUG diesel power plants.

Under the project, Napocor plans to bid out four clusters of off-grid areas such as Batanes, Palawan, Bicol, and Tawi-Tawi

Pagcor chief named executive of the year

PHILIPPINE Amusement and Gaming Corp. (Pagcor) Chairman and CEO Alejandro H. Tengco was voted “Executive of the Year in the prestigious Global Gaming Awards Asia-Pacific 2024 held at the Conrad Hotel in Pasay City last June 4. Runner-up for the award was MGM China President and COO Hubert Wang while Aristocrat Gaming’s General Manager for Asia Lloyd Robson and Jade Enter tainment and Gaming Technologies Founder and CEO Joe Pisano were at joint third place. Tengco said he did not expect to win the award but that it “validated the efforts that we have been putting over the past two years. It also proved that we are leading the agency in the right direction.”

“This award inspires me to work harder so that our plans and aspirations for PAGCOR may become a reality during my tenure as chairman and CEO,” he said. The Global Gaming Awards is a project of gaming publication Gambling Insider and is considered one of the most prestigious awards in the industr y. Mariya Savova, the event manager, congratulated this year’s winners and those who were shortlisted, adding that “nomination alone is still a fantastic achievement.”

By Reine Juvierre Alberto

“The Philippines is now the most dynamic and innovat ive gaming market in Asia with developments in both the land-based and online verticals, so it certainly was a great pleasure to have the Global Gaming Awards Asia-Pacific here in Manila today,” she said during the ceremony. This year’s panel of judges includes Betty Zhao, Senior Vice President of International Operations at Aruze Gaming Global; Ken Jolly, VP and Managing Director, Asia at Light & Wonder; Jaclyn Wood, CEO of Global Players Network; and Lucas Cai Vice President of Gaming at Mohegan INSPIREEntertainment Resort, among others.

Another categor y in the award is Casino Operator of the Year which was jointly won by Galaxy Entertainment Group and Philippine company Bloomberr y Resor ts Cor p., whi le runner-up was Sands and in third place was Wynn Resorts Macau T here were also w inners for Casino Supplier of the Year, Dig ital Casino Operator of the Year Dig ital Casino Supplier of the Year, Integ rated Resor t of the Year Casino Product of the Year, Table Game Product of the Year, Dig ital Spor ts Betting Operator of the Year Digital Spor ts Betting Supplier of the Year, Cor porate Social Responsibility of the Year, and the coveted Executive of the Year

THE Bureau of Customs (BOC)-Port of Clark intercepted an estimated P3.979 million worth of high-grade marijuana and cannabis-infused disposable vapes from California, United States of America (USA).

The BOC said on Wednesday it seized 2,132 grams (2.1 kilos) of high-grade marijuana or kush and 156 pieces of assorted cannabis-infused disposable vapes concealed in a parcel declared as “accessor y” which arrived in the Philippines on May 25.

A physical examination was conducted revealing dried leaves and fruiting tops suspected to be marijuana or kush and vape cartridges after the parcel was marked due to an unusual X-ray image. K9 sniffing was also conducted which indicated the possible presence of prohibited drugs, the BOC added.

The Philippine Drug Enforcement Agency (Pdea) confirmed the presence of marijuana, a dangerous drug under Republic Act (RA) 9165 or the Comprehensive Dangerous Drugs Act of 2002, after samples were taken and turned over to the agency for chemical laborator y analysis.

The BOC said a warrant of seizure and detention was issued against the subject shipment for violating Sections 118 (G) (Prohibited Importation and Exportation), 119 (D) (Restricted Importation and Exportation of Dangerous Drugs) and 1113 par F, I, and L (3 and 4) (Property Subject to Seizure and Forfeiture) of RA 10863 or the Customs Modernization and Tariff Act (CMTA) in relation to RA 9165, as amended.

Manila secures $500M for shift to renewable energy

By Cai U. Ordinario @caiordinario

THE Philippines is set to receive half a billion dollars in low-cost financing from the Climate Investment Funds (CIF), a fund composed of the world’s multilateral financing institutions.

T he CIF gover n i ng boa rd endorsed a new investment plan presented by the Philippine gover nment, allocating $500 million for a just transition from coal to renewable power in the countr y.

The countr y’s Accelerating Coal Transition (ACT) investment plan will use CIF financing to facilitate the early retirement or repur posing of coal fired power plants.

“T his endorsement represents a major achievement in the Philippines’s journey away from coal and towards a clean energy future. I congratulate all our partners, notably the Government of the Philippines, Asian Development Bank [ADB] and the World Bank Group,” CIF Chief Executive Officer Tariye Gbadegesin said.

“The Climate Investment Funds’ concessional resources will help ensure private sector buy-in, increased renewable energy development, and a just transition, for the benefit of the Filipino people and our planet,”

she added.

CIF will provide $475 million in loans and $25 million in grants to support the country’s coal transition.

The total co-financing is expected to exceed $2.3 billion, with investments from the Asian Development Bank, the World Bank Group, and the public and private sectors.

The CIF funding is part of the $2.2-billion Accelerating Coal Transition investment program, a firstof-its-kind multilateral investment platform utilizing concessional finance in key middle-income countries to pilot a transition away from coal to clean energy.

“Innovat i ve app r oac h es and greater public and private investment are required to accelerate the energy transition in Asia and the Pacific,” ADB Vice President for East Asia, Southeast Asia, and the Pacific Scott Morris said.

“This financing is instrumental in enabling ADB’s Energy Transition

Mechanism [ETM] to help incentivize the early retirement and repurposing of coal plants and deployment of clean energy in the countr y in a just manner,” he added.

The CIF said the countr y plans to accelerate the retirement of up to 900 megawatts (MW) of existing coal generation capacity by 2027. To ensure a just transition, 80 percent of affected employees are projected to gain access to sustainable income.

CIF funding

at 22 percent of total energy generation and is targeted to increase to 35 percent by 2030.

CIF noted that in 2022, coal accounted for 44 percent of total installed capacity and 60 percent of total generation in the Philippines.

Given this, the countr y emits over 55 percent of the countr y’s GHG emissions, generates air pollution, and is costly, with the sector relying on imports.

“T he Philippines gover nment’s

“The

for the Philippines,” IFC Countr y Manager for the Philippines JeanMarc Arbogast said. T hrough t he ACT i nvestment plan, Manila will progress its Nationally Determined Contribution (NDC), h av i ng comm itted to a 75-percent reduction in GHG emissions by 2030.

In the Philippines, the CIF said renewable energy currently stands

GoTyme unveils multi-currency time deposit product

By VG Cabuag @villygc

GOTYME Bank, a digital bank led by the Gokongwei Group, has launched its dollar-based time deposit product.

The company said it will only require a $1 as minimum deposit for the product.

“This means anyone can start their investment journey with a few clicks on the GoTyme Bank app,” it said.

“T he f irst of its k i nd i n t he ma rket, GoTyme Bank’s Mu lt i-Currency

Ti me Deposit also g u a rantees ret ur ns w it h hig h i nterest r ates, at 3 percent for t hree mont h s and 3.5 percent for si x mont h s, whic h a re c red ited da i ly,” it added.

Depositors may also deposit in their money in Philippine peso, which can be converted into US dollar on the app.

“This enables Filipinos to earn in dol-

“This recent seizure is a testament to our dedicated efforts in combating drug trafficking and ensuring the safety of our communities,” Customs Commissioner Bienvenido Y Rubio said in a statement.

Meanwhile, District Collector Erastus Sandino B. Austria commended the personnel from the Customs Anti-Illegal Drugs Task Force (CAIDTF), Enforcement and Security Ser vice (ESS), Customs Intelligence and Investigation Ser vice (CIIS), X-Ray Inspection Project (XIP), Customs Examiner and the Pdea for its collaboration in preventing the entr y of illegal drugs in the Philippines.

“We will continue to intensify our operations and enhance our capabilities to thwart any attempts at smuggling illegal substances into the countr y,” Rubio said.

T he BOC st ressed its relentless” campa i gn aga i nst i llegal d ru g smu ggl i ng follow i ng Fi nance Sec reta r y Ralph G. Recto’s effor ts to protect t he nat ional econom ic i nterest as well as President Ferd i nand R. Ma rcos Jr.’s d irect ive to safeg u a rd t he cou nt r y’s borders and c it i zens f rom i llegal d ru gs.

Sei zures of va rious merc hand ise, cou nter feit goods, cigarettes and tobacco and illegal drugs worth P28.02 billion, or a total of 132 apprehensions, were conducted by the BOC in the first quarter, The agency has collected P381.347 billion in revenues as of end-May, up by 6.13 percent from the P359.308 billion recorded in the same period in 2023

The BOC’s revenue targets for the year was slashed to P939.7 billion, 2 percent lower than the original goal of P959 billion.

Tlars while keeping their hard-earned cash safe and secure. And unlike with other banks, GoTyme does not implement penalties for early withdrawals, so you can take your money back whenever you need it,” it said.

Accrued interests, however, will be forfeited.

The bank said it will add more currencies in the future.

GoTyme Bank is a joint venue of Tyme Investments Pte. Ltd. with members of the JG Summit Group and Robinsons Retail Holdings Inc. and is one of the six banks with a digital banking license.

GoTyme Bank earlier said it is confident of having 5 million depositors by the end of the year as it is targeting to offer more ser vices to its customers.

Alber t Ti n io, t he bank’s co-CEO said, they are bullish on the economy as the company is on track to hitting its

target number of depositors. In Januar y, it reached 2.3 million depositors, in only 14 months since it star ted operations in the countr y. “Around December last year our sister bank Tyme, became profitable. We said we can also

do that; we’re ver y much on track to do that [to be profitable],” Tinio said.

Tinio said they still have commitments with the Bangko Sentral ng Pilipinas, like the release of banking products to the public, such as dollar time deposit.

account. “If your employers fail to act on any repor ted payment gaps, please do not hesitate to v isit our branch off ices and f ile a for mal complaint against them.” Meanwhile, she reported that from Januar y to March, SSS Mindanao South 1 Division collected P2.3 million in unremitted contributions from 65 employers.

PAGCOR Chairman and CEO Alejandro H. Tengco receives the “Executive of the Year” award during the Global Gaming Awards Asia-Pacific 2024.

Health& Fitness

Counterfeit drugs are dangerous, even fatal, to your health–pharma company

By Claudeth Mocon-Ciriaco

COUNTERFEIT drugs pose great danger to patients for it could also worsen the conditions of the patients or even lead to fatal results.

Unilab, Inc. (Unilab), the country’s leading pharmaceutical and health care company, has reiterated their commitment to work with the government and non-government organizations in protecting the welfare of Filipinos following the proliferation of the counterfeit versions of their popular over-the-counter medicines in the market.

The Food and Drug Administration (FDA) issued on Monday, June 3, 2024 an advisory advising the

public against the purchase and use of some drugs products. Consumers were also reminded to purchase drug products only from FDA-licensed establishments.

“We commend the leadership of the FDA, led by Director General Dr. Samuel A. Zacate, for releasing an urgent public advisory indicating their concern over the proliferation of counterfeit medicines being perpetuated by unscrupulous groups who exploit and take advantage of

the trust and confidence of the public on their trusted Unilab brands,” the Unilab said in a statement.

“We also laud FDA’s action in calling the attention of healthcare professionals, drug outlets and establishments, including the local government units and law enforcement agencies, to ensure full compliance to Republic Act No. 9711, or the Food and Drug Administration Act of 2009, and Republic Act No. 8203, or the Special Law on Counterfeit Drugs.”

Continuous collaboration

THROUGH the years, Unilab said, they have continuously collaborated with the FDA, the National Bureau of Investigation and Intellectual Property Office, to prevent the perpetration of a such criminal act.

The FDA revealed that counterfeit versions are being made of the fol-

lowing drugs

1. Ibuprofen (Medicol® Advance) 200 mg Softgel Capsule

2. Phenylephrine Hydrochloride + Chlorphenamine Maleate + Paraceltamol (Bioflu®) 10 mg/2mg/500mg Tablet

3. Dextromethorphan Hydrobromide + Phenypropanolamine Hydrochroride Paracetamol (Tuseran® Forte) (Reformulated) 15 mg/25mg/325mg Capsule

FDA also warned establishments and outlets against selling and/or dispensing of these counterfeit products with these features.

“The importation, selling or offering for sale of such is in direct violation of Republic Act No. 9711 or the Food and Drug Administration Act of 2009, and Republic Act No. 8203 or the Special Law on Counterfeit Drugs,” the FDA warned.

Improving dairy industry is key to fighting undernutrition–experts

By Rizal Raoul S. Reyes Contributor

NDERNUTRITION remains

Ua serious problem among Filipino children aged five to 10, with approximately 2.7 million children being too short for their age, potentially affecting their cognitive and physical development.

In a recent forum, Professor Liezel Atienza, Director of the Institute of Human Nutrition and Food at the University of the Philippines Los Ba ños, explained that milk and dairy products help diversify the diet and can benefit both nutritionally vulnerable people and healthy people when consumed in appropriate amounts.

“Milk is a nutrient-dense beverage. One glass of milk provides the calcium, protein, potassium, and vitamins equivalent to several other foods. Alternatives to dairy milk are still not as nutritious, especially for certain dietary needs,” said Atienza during the celebration of World Milk Day held in Makati City on June 1, 2024.

Enhance cognitive abilities

MAGDALENE CARRIAGA, Schoolbased Feeding Program Focal Person

of Department of Education, said milk has been scientifically proven to enhance students’ cognitive abilities and academic performance.

In the forum, a whole-of-society and a science-centric approach were emphasized  to improve both the development of the dairy industry and the consumption of milk by Filipinos.

National Dairy Authority OIC Administrator  Gavino Alfredo Benitez  said the Philippines faces an astronomical challenge to improve its milk production.

“As of 2023, the Philippines produced approximately 18,000 metric tons of milk, accounting for about 0.8 percent of the country’s total milk consumption of 1.937 million metric tons. Increasing local milk production is seen as a strategy to promote food security, help solve malnutrition and increase the income of farmers in the dairy sector,” Benitez shared.

Skilled dairy personnel

BENITEZ also pointed out the dearth of skilled dairy personnel in the country is also a major reason why the local dairy industry cannot move up.

“When we went to New Zealand, we found out that 60 percent of their dairy farms are managed by Filipi-

nos,” he recalled.

The challenges facing the dairy industry are poor feed and management practices, high production costs, lack of dairy infrastructure, water scarcity, poor mechanization, low reproductive efficiency and high wastage/high perishability of milk.  Agriculture Assistant Secretary Benjamin Albarece said improving the genetics of the cows is important to boost the production of milk in the country. “We’re still producing one percent of the local milk production,” he said.

Scientists at the Philippine Genome Center believe in improving the gene pool of the local cattle livestock towards improvement in production.

To address the low productivity of dairy animals in the Philippines, the PGC said University of the Philippines Los Ba ños partnered with the  Department of Agriculture Region 7 and the local government of Siquijor province, with support from USAID—STRIDE, to develop a local dairy breed using the three-way breeding strategy with the Siquijor native cattle as foundation stock.

Partnerships

ALBARECE said partnerships with the various stakeholders sharing the

same objective would help in uplifting the dairy industry.  “Through meaningful collaboration with various sectors, we see a clear path towards accelerating the development of the Philippine dairy industry,” said  Albarece.

Hosted by Alaska Milk Corporation (AMC) in celebration of  World Milk Day, the forum, which centered on the theme “Celebrating the Goodness of Dairy,” discussed the power of milk and the goodness of dairy.

Star Estacio, Marketing Director of AMC. said the private sector, particularly milk brands, have a role to play in promoting milk consumption as part of a balanced and healthy diet.

“As milk brands, we play a pivotal role in advocating for milk consumption as part of a balanced and healthy diet,” said Estacio.

“By educating consumers about the comprehensive nutritional benefits of milk and ensuring access to high-quality yet affordable dairy products, we can contribute significantly to fostering healthier communities. Our commitment extends beyond merely providing products; it’s about making a meaningful impact and enhancing the overall well-being of families,” she added.

V My Beauty Deer Placenta+ advances by leaps and bounds in stem cell therapy

By Roderick L. Abad Contributor

HEALTH and beauty are not constant. As time goes by, people become sick and are not as good-looking as they used to be. Hence, the quest for the fountain of youth never ends.

“As we grow old, at 25, the production of stem cells stops. They also deteriorate due to [unhealthy] food intake plus [pollution from the] environment. So the tendency is they become weak or much worse die,” Jeffrey Nicdao, chief executive officer (CEO) of V My Beauty Marketing Inc., told reporters in a recent online interview.

The good thing is that a therapy using stem cell has emerged in recent years, revolutionizing the health and wellness industry. This type of generative medicine that utilizes the self-healing mechanism of the body has been proven effective to turn back the clock to the youthful glow of most patients. It even became more popular when its variant, derived from the placenta of a deer, not only brought about the fountain of youth but also helped to treat a number of illnesses.

Research findings

STUDIES have shown that the placenta is loaded with growth factors like the fibro-

blast growth factor (FGF), which encourages rejuvenation of the skin. The deer, being one of the mammals that are highly compatible with humans, is highly effective, per findings of scientists. When fully absorbed by the body via nano technology, it pricks the existing old and damaged stem cells.

“It can repair, regenerate, restore, reactivate, and rejuvenate our cells. Maximizing again the functionality of our stem cells, we won’t become easily sick and, at the same time, if we fall ill, healing will be faster,” he said.

Taking deer placenta helps reduce sagging and wrinkling of the skin. Also, it has a

whitening result for suppressing the production of melanin, a dark pigment that gives color to the skin,

“So the long term effect of it is the reversal of aging,” Nicdao noted, adding that it also helps treat some diseases.

Phenomenal product

RELATIVELY new to the health supplement industry, V My Beauty, which was established in 2021, has continuously been creating a buzz in the local market and in some parts of the world with its innovative flagship product.

Called V My Beauty Deer Placenta+, it is an oral live stem cell therapy that is available in the Philippines and foreign markets like Dubai, Canada, Japan, the United States, and European Union—thanks to its 5,000 local and overseas Filipino worker-distributors.

“We are the highest form of deer placenta that’s available in the market. It means, [our three soft gels contain] 30,000 milligrams [of stem cell] compared to 10,000 milligrams [of a single soft gel from other brands]. So we are at par, meaning its efficacy is faster and more affordable [in price],” boasted the CEO.

Imported from Singapore, V My Beauty Deer Placenta+ uses nano technology to achieve a 100-percent absorption by the body. Containing more than 10 rare ingre-

dients, this food supplement is found out to be helpful in curing various sickness, such as lumbar deficiency, stage four lymphoma, kidney diseases, hypertension, diabetes, etc. Lumbar disease

NICDAO, who previously suffered from a lumbar disease, could also attest to the deer placenta’s effectivity. He recalled that he personally tried this supplement. Even without fully consuming the seven-bottle deer placenta therapy kit, he got fully healed as declared by his doctors. The same holds true for V My Beauty Deer Placenta+ users who, based on their personal accounts, were declared free of such diseases after taking this very kind of stem cell therapy.

“We also have patients or customers who look younger than their senior age,” he added. “So my No. 1 goal is to share this breakthrough product with my fellow Filipinos. Experiencing the same situation of our sick compatriots who desperately look for a treatment, I know how hard it is for them. The [potential] income [through our multilevel marketing model] only comes second.”

Guided by its goal to help improve the overall quality of the health and wellness of Filipinos, V My Beautyalso offers other products such as vitamins, juice, beverages, and transdermal that targets the human cell for high potency.

Editor: Anne Ruth Dela Cruz

Parents asked to bring their young daughters for HPV vaccination

By Manuel T. Cayon

DAVAO CIT Y—Parents here have been asked to bring their young daughters to be vaccinated against the Human Papillomavirus (HP V ), a generally treatable sexuallytransmitted viral infection but some of its strains cause cervical cancer among women.

The Philippine Information Agency said the Davao City Health Office issued the call recently showing a declining vaccination among girls aged between nine to 14 years old, despite it being free.

“We urge parents with children, girls aged nine to 14 years old, to please have them vaccinated. Let’s protect them against cervical cancer, HP V infection,” said Dr. Julinda Acosta, head of the City Health Office (CHO) technical division.

The CHO launched recently the regional cervical cancer screening services in Davao City and announced that HP V vaccines “are readily available and free of charge in barangay health centers”.

Effective vaccination SHE said they are focusing on girls in that particular age group, citing studies that vaccination “is effective on children of this age who have no infection yet.”

The World Health Organization said HP V “is a common sexually transmitted infection [and] almost all sexually active people will be infected at some point in their lives, usually without symptoms”. It said HP V can affect the skin, genital

area and throat.

It also said that the girls aged nine to 14 years old are the best ages to get them vaccinated while they are still not sexually active.

Acosta said there was a low HP V vaccination turnout in the past few years in Davao City.

From the CHO target of vaccinating 9,000 young girls, only 1,000 young girls got vaccinated for the first dose, and this decreased to 900 on the second dose.

“Our vaccination rate is very low in Davao City,” she said.

Vaccine hesitancy

SHE said vaccine hesitancy among parents and guardians may be the reason for the low coverage.

The CHO has been going around the public schools across the city to facilitate free HP V vaccination among fourth-grade young girls and has asked private schools to request the CHO for free HP V vaccination activities for their fourth-grade female students.

Acosta emphasized that HP V infection is still the primary cause of cervical cancer among women, and cervical cancer remains to be the second most common cancer among women.

Acosta said the CHO recorded 88 deaths due to cervical cancer in 2023 and 10 have already died in the first quarter of this year.

She said cervical cancer is highly treatable, especially if diagnosed earlier and given treatment, and highly preventable through HP V vaccination.

FUJIFILM Philippines partners with Makati to provide free ultrasound to residents

FUJIFILM Philippines, a leading provider of innovative imaging and healthcare solutions, has partnered with the City Government of Makati to provide free, high-quality diagnostic services to residents through its weekly caravan in various barangays.

Masahiro Uehara, president of FUJIFILM Philippines, said that through this partnership, the company is reinforcing its commitment to improving access to essential healthcare services for communities in Makati.

“At FUJIFILM Philippines, we believe that everyone deserves access to quality healthcare, regardless of their socioeconomic background. By collaborating with the City Government of Makati, we can reach more individuals and provide them with the diagnostic services they need to maintain their health and wellbeing,” he said.

The weekly Makati Lingkod Bayan Caravan provides residents with a wide range of diagnostic services, including general check-ups, blood pressure monitoring, blood sugar screening, and consultations with healthcare professionals.

Augment health services

FUJIFILM Philippines started offering Makati residents free ultrasound services on April 20, 2024. The company continues to set up booths every week in barangays where the Makati Lingkod Bayan Caravan is held to augment health services provided by the Makati Health Department and the Ospital ng Makati. FUJIFILM Philippines utilizes the Arietta series machine for general ultrasound to diagnose residents’ medical conditions. This initiative not only assists in early detection but also encourages the public to take proactive steps toward managing their health.

The company will also bring its flagship product, the FDR Xair, a portable X-ray device that can help local healthcare providers screen for tuberculosis (TB) in the succeeding caravans. Weighing only 3.5 kg, the FDR Xair is highly portable and can function without electricity for hours. It provides a much-needed screening solution at any given point in time and can be used in various medical treatment settings, such as patients’ homes, isolation wards, and remote areas.

Aside from free diagnostic tests, FUJIFILM Philippines also provides free photography training and a pop-up studio with free photo printing to residents to foster creativity and offer new opportunities for personal and professional growth.

Uehara said Makati’s initiative to bring health services closer to residents aligns with Fujifilm’s purpose to bring more smiles to Fili-

pinos. The company continues to collaborate with governments, international organizations, civil society, and the private sector to address healthcare challenges.

“ FUJIFILM Philippines aims to bring more smiles to Filipinos through innovative products and services. We believe that collaborating with the Makati LGU through the Makati Lingkod Bayan Caravan will help us extend our assistance to even more people. Thanks to Mayor Abby’s support and the local government, we were able to participate in this meaningful activity,” he added.

2nd partner

MAKATI is the second local government unit in the country to partner with FUJIFILM Philippines after its successful medical mission and TB screening program in Majayjay, Laguna last year. The free ultrasound and x-ray program for Makati residents will run until November. Over 300 patients in Majayjay availed themselves of free x-ray services, with overwhelmingly positive feedback from the community. FUJIFILM Philippines’ dedication to accessible healthcare has earned them widespread praise, not only for their technical expertise but also for their commitment to serving communities in need.

During the medical mission in Majayjay, FUJIFILM Philippines used two of its state-of-theart x-ray machines: the FDR nano and the FDR Go PLUS. These two mobile imaging devices are designed for high-quality X-ray imaging. Both are lightweight and compact, making them ideal for testing people in diverse healthcare environments.

Established in 1934 as a producer of photographic film in Japan, Fujifilm has dedicated itself to creating leading-edge, proprietary technologies by leveraging its photography expertise into other products and markets. Its businesses today span a diversified range of product segments based on a portfolio of chemical, mechanical, optical, electronic, and imaging technologies. The company started its operations in the Philippines in 2012.

This year, Fujifilm is celebrating its 90th anniversary and coinciding with this celebration, Fujifilm launched a new global Purpose, “Giving our world more smiles” which underscores the company’s commitment to bring diverse ideas, unique capabilities, and extraordinary people together to change the world. Whether enhancing medical diagnostics, optimizing manufacturing processes, or advancing environmental sustainability, Fujifilm remains steadfast in its mission to build a brighter, healthier future for all.

JEFFREY NICDAO., CEO of V My Beauty Marketing Inc,

Superstore free membership and renewal for frontliners to experience more on its 8th anniversary

Filling our child’s cups of joy

PHILHEALTH JOINS 26TH LEG OF LAB FOR ALL IN CENTRAL LUZON

w n poo l construction

“H is dedication and expertise l aid the foundation for me ,” remarked his son Richard Cari ñ o, C E O of Crysta l B l ue E nterprises. “ Because of his l ife ong pursuit of exce ll ence , I took up the mant l e and founded Crysta l B l ue E nterprises.” Centra l to Rodo fo Cari ñ o ’s egacy is his i ll ustrious career in poo construction w here his expertise eft an inde ib l e mark at prestigious estab l ishments ike Sofite l Phi ippine P aza Mani l a. Today Crysta B l ue E nterprises proud y carries for w ard this l egacy, dra w ing upon decades of experience to de l i v er unpara ll e l ed craftsmanship and inno v ation to its c l ients.

H o w e v er the journey of the Cari ñ o fami y has been marked by cha ll enges. I n a testament to their resi l ience , Rodo fo Cari ñ o faced and triumphed o v er G ui ll ain - Barré syndrome (G BS ), a rare disorder

w here the body s immune system damages ner v es. H is courageous batt l e not on l y ref l ects his spirit of perse v erance but a l so ser v es as a reminder of the strength and determination that define him. T hrough his persona strugg es and triumphs , the e l der Cari ñ o continues to inspire and shape the egacy of Crysta l B ue E nterprises. With a steadfast commitment to exce ll ence Crysta B l ue E nterprises has earned its reputation as the Phi l ippines premier bui l der of earthquakeproof s w imming poo s. Since the 1 9 7 0s the company has been synonymous w ith qua l ity offering a remarkab l e 30 - year w arranty on e v ery project. Beyond borders , Crysta B l ue E nterprises has expanded its reach w ith offices in Tokyo J apan and G uangzhou China bringing cutting - edge techno ogies to the Phi l ippines. One such inno v ation is the H ea l ing Poo l, a re v o l utionary ad v ancement in poo techno ogy pioneered by Richard Cari ñ o himse l f. E ngineered to prioritize hea th and sustainabi l ity, the H ea ing Poo l boasts Z ero Ch l orine Techno l ogy, harnessing the po wer of therapeutic minera l s to disinfect w ater natura ll y. By energizing the w ater and acti v ating the oxygen , this groundbreaking techno l ogy offers a reju v enating and chemica l- free s w imming experience un l ike any other. As Crysta B l ue E nterprises continues to e v o lv e and inno v ate one thing remains steadfast: a profound commitment to honoring the egacy of Rodo l fo Cari ñ o and the v a ues upon w hich this

company w as bui t. With each project undertaken the team at Crysta l B ue E nterprises stri v es to upho d the highest standards of exce ll ence ensuring that e v ery poo constructed is not just a structure but a testament to a fami l y s enduring egacy of craftsmanship resi ience , and inno v ation. Disco v er the true exce ll ence of Crysta l B ue E nterprises today. Take a di v e into our portfo l io at https: // crysta b l ue.com.ph and experience firsthand the unmatched craftsmanship and inno v ation w e bring to e v ery poo project.

Celebrate Dragon Boat Festival with Machang from Kamuning Bakery Cafe

4 3 J udge J imenez Street corner K -1 st Street , Barangay Kamuning Quezon City has had its traditiona l Machang featured by v arious internationa media inc uding the N etf l ix TV series entit ed “ Street F ood Asia ” TV series as w e ll as media out ets across east Asia. Kamuning Bakery Cafe offers three f a v ors of Machang, a ll prepared the o d - fashioned w ay: 1 Do u b l e Por k: A rich combination of pork be ll y and Shiitake mushrooms.

2. C h ic k e n Por k a n d S h ii t a k e M u s h rooms : A f l a v orfu mix of tender chicken , pork be ll y, and Shiitake mushrooms.

3. Taoc h a

Robert H. Lo’s Culinary chronicle ‘Pimamanan

ETERINARIAN and food ent hu s i ast D r Robe r

House defends rice trade policy of Marcos govt

By Jovee Marie N. Dela Cruz @joveemarie & Ada Pelonia @adapelonia

THE decision of President Ferdinand R. Marcos Jr. to reduce the tariff on imported rice and sell it through Kadiwa centers will make the staple more affordable and reduce price volatility, leaders of the House of Representatives said Wednesday.

“The import levy reduction on imported rice from 35 percent to just 15 percent and the direct sale of imported rice by the government through its K adiwa centers should bring down the retail price of rice substantially, especially for consumers,” Speaker Ferdinand Martin Romualdez said.

He said the effort to reduce rice prices aligns with the administration’s goal of making rice “more accessible and affordable for everyone.”

Romualdez reassured rice farmers that the assistance they receive from the government, funded by the Rice Competitiveness En-

hancement Fund (RCEF) established under Republic Act 11203 (the Rice Tariffication Law), will continue.

Official data indicated that the fund had accumulated P16 billion from import tariff collections as of last month.

“This means that the government has enough funds to help farmers, while it is trying to bring down rice prices through the import tariff cut and direct K adiwa sales.”

The House leader said the chamber’s advocacy of returning the rice importation mandate of the National Food Authority is

China’s hog farmers enjoy surge in profits but demand is still a problem

CHINA’S hog farmers may have turned a corner after a surge in profits last month, but a sustained improvement in the industry’s fortunes could still prove elusive.

Pig prices have climbed to their highest level since the end of 2022, driven by a decline in production. The constraints on supply, plus a drop in feed costs, have fueled a similar jump in margins. Further seasonal gains in the price of China’s favorite meat are likely in the second half of the year, according to the agricultural ministry.

But what’s missing from the equation is a durable increase in demand. It’s a common theme across China’s commodities markets, as the economy has struggled to recover from the pandemic amid a protracted crisis in the property market.

The rise in pig prices doesn’t guarantee a prolonged shift back to profitability for farmers, according to Justin Sherrard, global strategist for animal protein at Rabobank.

“These are early signals that the turn in the pork cycle is coming, but until we see sustained signals of stronger demand, China is not quite there yet,” he said.

The pork cycle, which can last three or four years, is driven by mismatches in supply and demand. It’s closely watched by economists for clues on inflation. Last year, China’s consumption fell by 1 million tons to about 54 million tons. Production, meanwhile, climbed to a nine-year high of nearly 58 million tons.

That imbalance contributed to the deflationary pressures which are now entrenched in the economy and posing risks to Beijing’s targets for growth.

It’s not just penny-pinching households worried about China’s slowdown who are

buying less meat during the weekly shop.

Consumption is lagging in the services sector as well, with restaurants and factory canteens replacing pork with cheaper proteins to reduce costs, said Pan Chenjun, a senior analyst at Rabobank.

Still, the farm sector is probably in better health these days and more able to maintain profitability, after the last trough in the cycle cleared out a lot of smallholders who couldn’t weather the tougher conditions.

That consolidation has allowed the formation of large-scale agribusinesses, which can take on more risk and investment than smaller family farms, said Duncan Wrigley, chief China economist at Pantheon Macroeconomics Ltd.

On the wire

CHINESE miner MMG Ltd. is seeking to raise about $1.2 billion via a rights issue in Hong Kong, with the proceeds to be used to repay existing debt so that it can continue to develop existing projects.

Beijing’s push for greater energy security amid escalating global geopolitical tensions and trade protection could shift the nation away from oil consumption toward greener renewable energy and cleaner gas.

Cofco International Ltd., the trading arm of China’s largest food company, is exploring options including a sale for its Chicago grain terminal, according to people familiar with the matter.

Just days after celebrating a landmark deal to share ownership of one of the world’s biggest lithium operations, SQM and Codelco are turning to regulatory—and possibly legal—obstacles. Bloomberg News

also meant to make the staple affordable.

The rice importation mandate bill remains pending in the Senate.

“We should find a long-term solution to the rice price issue.”

For his part, House Committee on Ways and Means Chairman Joey Sarte Salceda said the decision to reduce the tariff on imported rice sends “a positive signal” for price stability in the market.

“Inflation conditions today require some measure of forward

policy guidance. That is especially the case with rice, which continues to be the single biggest determinant of inflation, especially for the poor,” he said.

Salceda said rice remains the single biggest determinant of inflation, particularly for the poor.

“In that respect, (President Marcos) gets this move right,” he said, acknowledging the chief executive’s efforts to tackle the issue head-on.

In addition to supporting the tariff reduction, Salceda called

for increased efforts to bolster the domestic rice sector through the RCEF. The fund, which has grown to about P30 billion annually, is crucial for enhancing the competitiveness of local rice farmers.

“The House under Speaker Romualdez has already moved forward with its amendments to the Rice Tariffication Law, to make the RCEF more responsive to the needs of the domestic rice sector and to restore key powers of the NFA to make cheap rice available to the poor,” Salceda noted.

These amendments are designed to ensure that the RCEF effectively addresses the challenges faced by local farmers and helps stabilize rice prices, he added.

DA’s optimism

THE Department of Agriculture (DA) said it remains optimistic about achieving its palay production target of 20.44 million metric tons (MMT) this year despite the impact of El Ni ño.

“We’re optimistic since it’s still early June. We’re still aiming for that. We’re doing our best to achieve that,” National Rice Industry Development Program Undersecretary Christopher Morales said in a statement.

According to the DA’s latest report, the agricultural damage caused by the weather phenomenon has climbed to P9.5 billion.

DA agency to assist FDA in testing

THE Food and Drug Administration (FDA) will allow the Bureau of Animal Industry (BAI) to evaluate animal vaccines and biologics that aim to stop the spread of viral diseases that threatened the local poultry and hog sectors.

In a Memorandum of Agreement (MOA) signed by the Department of Agriculture (DA) and the Department of Health (DOH), the FDA is mandated to issue a License to Operate (LTO) to manufacturers, traders and distributors, and retailers of veterinary drugs and products, including vaccines and biologics.

The FDA should also issue an LTO to BAI for manufacturing or importation and the issuance of certificate of no objection for BAI’s importation of vaccines and biologics for its

evaluation and research.

Among the animal diseases that hound the livestock and poultry industry are highly pathogenic avian influenza (HPAI) and African swine fever (ASF), both of which are contagious viral diseases.

“This MOA will significantly strengthen our fight against transboundary animal diseases such as African swine fever and highly pathogenic avian influenza.

By enhancing our regulatory framework and fostering greater cooperation among key agencies, we can better safeguard the animal industry, secure the livelihoods of our farmers, and mitigate the impact on our economy,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a statement.

Palay damaged by El Ni ño reached 185,561 metric tons (MT).

The department also reported that farm damage due to Typhoon Aghon amounted to P81.84 million with a volume of production loss pegged at 2,586 MT.

Data from the Philippine Statistics Authority (PSA) showed that palay production in 2023 reached a record 20.06 MMT.

Morales said the department has tapped various private organizations to assist the agency in extending the reach of the rice production program.

He added that aside from the RCEF, which allocates P10 billion for farm mechanization and credit assistance, the DA sets out other rice production initiatives like the provision of hybrid seeds.

The contract growing program of the National Irrigation Administration is also helping increase palay output, Morales said.

“The DA’s rice program is aiming for self-sufficiency of the country’s main food staple, although the level of sufficiency is dependent on population growth and additional rice demand due to the increasing number of foreign tourists.”

Morales also said the rice supply situation remains “manageable,” especially with the continuous importation of the private sector to augment domestic production.

veterinary vaccines

“At the DA, we are fully committed to the agreement as a means to ensure the safety and efficacy of veterinary drugs and products, not only for the well-being of our animals but also for the protection of public health.”

The BAI is expected to conduct evaluations to determine the safety and efficacy of both local and imported vaccines and biologics, and endorse private applications to the FDA for the issuance of certificate of product registration to local and imported veterinary products and provide the FDA with evaluation reports.

“This collaboration between the two agencies is testament to the renewed commitment of the government to strengthen its presence in securing the public welfare,” FDA Director General Samuel Zacate said in his message.

“We pledge to provide the necessary resources, expertise, and support to BAI as it undertakes its responsibilities under this agreement. We pledge to uphold the highest standards of quality and safety in the veterinary sector.”

The latest BAI monitoring released on May 28 revealed that ASF is present in 9 provinces, with 16 municipalities and 30 barangays affected by the disease.

Data from the attached agency of the DA also indicated that bird flu continues to affect 8 provinces and 127 barangays in the country.

The DA said the ASF vaccine, which entered the third phase of trials, may be launched within the year. Ada Pelonia

Tokyo to support PHL fight against banana diseases

THE Japanese government will help the Philippines develop systems that aim to eliminate diseases afflicting bananas and cacao.

The Bureau of Plant Industry (BPI) is set to collaborate with the Japan International Cooperation Agency (JICA) for the banana and cacao disease management project.

The project “Development of Novel Disease Management Systems for Banana and Cacao” is implemented under JICA’s Science and Technology Research Partnership for Sustainable Development (SATREPS) initiative.

“SATREPS promotes joint research between Japanese universities and institutions with universities from partner countries, including the Philippines,” the BPI said in a statement. According to the agency attached to

the Department of Agriculture (DA), this collaboration is aligned with Agriculture Secretary Francisco Tiu Laurel Jr.’s agenda to enhance food sufficiency through increased production and partnerships with stakeholders.

The BPI led the finalization of the Memorandum of Agreement (MOA) for the project through a meeting attended by representatives from the agency, Central Luzon State University (CLSU), Tamagawa University in Tokyo, and JICA.

According to BPI, the discussions were centered on the critical aspects of plant quarantine regulations, clearance, and permits. The agency pledged its comprehensive support to streamline this process with the collaborators.

It added that plans were outlined to

involve the Regional Crop Protection Center (RCPC) in monitoring activities through the Crop Pest Management Division (CPMD), ensuring robust coordination with regional focal points and the High-Value Crops Development Program (HVCDP) through DA Regional Offices and H VCDP Region focals.

“This coordination aims to enhance the effectiveness of the project’s implementation on the ground,” the BPI said.

Citing data from the International Cocoa Organization (ICCO), an expert noted that an estimated 30 percent to 40 percent of cacao crops are destroyed by pests and diseases. (See: https://businessmirror.com. ph/2024/05/ 1 3/phl-must-fightpests-diseases-to-boost-cacaooutput/)

Meanwhile, the Food and Agriculture Organization (FAO) Commission on Phytosanitary Measures (CPM) said Fusarium Tropical Race 4 (TR4) inflict extensive damage on banana crops. (See: https://businessmirror.com.ph/2024/04/17/cpm-explores-other-measures-to-stopspread-of-plant-diseases/)

With the intensified impacts of climate change, yield losses due to TR4 affect more than 400 million farmers, producers and rural households who depend on this staple crop.

The BPI noted that the MOA is expected to serve as a stepping stone to further collaborations with private sectors, farmers, and academic institutions like CLSU and Tamagawa University, in achieving food sufficiency in the Philippines. Ada Pelonia

‘Ginger supply tightening on rising demand from food processors’

THE increasing demand of food and beverage manufacturers for ginger, a popular ingredient used in making Filipino dishes, is putting pressure on the price of the crop, according to the Department of Agriculture (DA). Agriculture Undersecretary Cheryl Marie Natividad-Caballero issued the statement after the DA’s latest price

watch report as of June 3 showed

used now for processing,” Caballero told reporters on Tuesday. Nag-aagawan ngayon ng supply as to for household or for processing [Households and processors are now competing for the available supply].” Caballero noted that manufacturers add ginger to beverages like tea, which

A VENDOR holds a plate of rice grain at a grocery store in Mae Sot, Thailand, on August 18 2023. VALERIA MONGELLI/BLOOMBERG

Sports

B8 THURSDAY, JUNE 6, 2024

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

Constantino two strokes ahead of Lee with one round to play

Hbogey through 13 holes and conceded a stroke on the par-5 14th, which she had previously birdied. A birdie on No. 16 was nullified by another bogey on the tough par-3 17th, resulting in a 73 and

Lascuna, Arbole share Lakewood lead

Emma

ramps up training in final stretch

By Josef T. Ramos

MMA MALABU YO is determined

Eto do well in the Olympics and is making the most of the remaining weeks before the big show in Paris.

She has been training with other Paris bound gymnasts Jordan Chiles of the US, who won the women’s team silver in Tokyo games three years ago, and 2019 Pan American Games floor exercise gold medalist Brooklyn Moors of Canada.

“I want to obviously just give my all in this very competitive competition, I want to do my best and I’m going to put all my efforts that I can, and hoping to make it in event finals and hoping to win a medal,” Malabuyo, who trains under University of California Los Angeles coach Janelle McDonald, told BusinessMirror on Wednesday.

“In next couple of weeks, I want to get much training as I can, add routines, and upgrade everything. I’m also practicing here in the UCLA with the other best gymnasts. I want to go far in Paris, not just to compete but also to win representing the Philippines,” Malabuyo added.

Weeks after booking a slot in Paris through an Olympic quota with a bronze medal at the women’s individual all-around in the Asian Artistic Gymnastics Championships in Uzbekistan, the 21-year-old Malabuyo is pumped up for Paris. Malabuyo also won the gold in the women’s floor exercise.

It was a big result for Malabuyo, who missed a chance to earn a ticket to Paris earlier this year when she missed the final cut in the floor exercise in the World Cup in Doha.

“After the World Cup competitions, I was so frustrated, devastated but I turned those frustrations to motivation,” Malabuyo, a former alternate of US gymnastics team in the Tokyo Olympics, said. “My great inspiration in this journey are my parents, family, teammates and the Filipino community.”

“My family and the entire Filipino community never stopped believing in me and they just told me to give my all in this one last shot going to the Olympics. I went to the competition with sort of pride and just doing it for a bigger purpose instead of doing it for myself, but also for everyone who believed.” Malabuyo will travel to Metz, France for a training camp with McDonald two weeks before the opening of the Summer Games, joining other Filipino gymnasts Carlos Yulo, Aleah Finnegan and Levi Jung-Ruivivar.

ART ARBOLE produced an exceptional performance by carding a 66, catching Tony Lascuña at the helm of the ICTSI Lakewood Championship and setting the stage for a showdown in Cabanatuan City between a player still seeking his first Tour win and an ace whose victories match his age of 53.

Lascuña displayed vintage form, starting strong and finishing even stronger, his 67 placing him at the top at eight-under 136. Arbole matched him with an impressive round laced with eagles on Nos. 14 and 4 for nines of 33s.

“I was expecting to shoot a low score because I always practice,” said Arbole, attributing his surge to solid driving and precise approach shots, a performance that surprised many.

The P2.5 million championship is now set for a thrilling last 36 holes as Reymon Jaraula and Sean Ramos charged back with 137s, each posting bogey-free frontside 31s. Jaraula finished with a tournament-best 65, while Ramos matched Lascuña’s five-under output.

First-day leader Hyun Ho Rho had a 72 after a 66 and stood two strokes behind at 138, tied with Rupert Zaragosa and Ozeki K akeru, who shot 69 and 71, respectively, in the tournament offering a top prize of P450,000.

Albin Engino and Daiya Suzuki each carded 69s, while Jay Bayron

shot a 70, all three sitting at 139.

Jhonnel Ababa, just one stroke behind Rho after the first round, faltered with a 73 marred by a triple-bogey on the par-3 third hole. He dropped from joint second to a tie for 11th at 140, alongside Nelson Huerva and Gabriel Manotoc, who carded 69 and 71 respectively.

Forty-one players advanced to the last two rounds, with Jerson Balasabas and Luis Bagtas clinching the final spots at 150 after shooting 72 and 74, respectively.

Lascuna, like Arbole, attributed his motivation throughout his long but somewhat unproductive campaign to his family. He finished 32nd at Apo, tied for 14th at Palos Verdes, missed the cut at Caliraya Springs, and placed 36th at the Philippine Masters.

“They really need to be your inspiration,” Arbole emphasized after he eagled the par-5 14th with a six-foot putt off an 8-iron second shot from 165 yards then drained a 10-footer on No. 4 after a 78-iron shot from 186 yards.

Lascuña, also driven by his consistent performances in the first four legs of this year’s 10-stage circuit, organized by Pilipinas Golf Tournaments Inc., remains determined.

“ I can still do it. My putting clicked, so I kind of scored,” Lascuña said.

Knee injury forces Djokovic out of French Open

PARIS—Novak Djokovic pulled out of the the French Open with an injured knee on Tuesday, an abrupt end to his title defense and to his current stay at No.

1 in the rankings.

“I am really sad to announce that I have to withdraw from #rolandgarros,” Djokovic posted on social media. “I played with my heart and gave my all in yesterday’s match and unfortunately, due to a medial meniscus tear in my right knee, my team and I had to make a tough decision after careful consideration and consultation.”

The tournament said the extent of the injury was found during an MRI exam Tuesday. Djokovic was hurt during a fourth-round victory against No. 23 Francisco Cerundolo on Monday that lasted five sets spread across more than 4 1/2 hours. It was his second consecutive five-setter, with his total time on court across the two exceeding 9 hours.

The 24-time Grand Slam champion was supposed to face No. 7 seed Casper Ruud, the runner-up each of the past two years at Roland Garros, in the quarterfinals on Wednesday. Instead, Ruud gets a walkover into the semifinals, where he will face No. 4 Alexander Zverev or No. 11 Alex de Minaur.

ARMIE CONSTANTINO displayed late-round brilliance to secure a 70 and extend her lead to two strokes over promising junior golfer Jiwon Lee after 36 holes of the ICTSI Lakewood Championship Wednesday in Nueva Ecija. Seeking a fourth straight title on the Ladies Philippine Golf Tour, Constantino hit three birdies in the last six holes at the softened Lakewood Golf and Country Club, providing her with crucial breathing room as she prepares for Thursday’s final round of the P750,000 championship. On the brink of another win with a 136 total, Constantino remains cautious. “I have no expectations. But my target is to hit more greens and make more putts,” she said. After a stellar 66 on Tuesday, Constantino struggled to find her rhythm, making two birdies early and falling to one-over with another bogey on No. 12 before her late surge. Chihiro Ikeda, who was just one shot behind Constantino after a sterling 67 Tuesday, also struggled with form. She had one birdie and one

By Aldrin Quinto

BIANCA PAGDANGANAN has stayed on track for a return to the Olympics as Dottie Ardina looks to make her debut in the quadrennial meet.

The 26-year-old Pagdanganan, who was not in the US Women’s Open field, is 35th in the Olympic rankings handled by the International Golf Federation. She tied for 43rd at the K asumigaseki Country Club. Ardina, who plays on the Epson Tour, has remained in the magic 60 on the International Golf Federation’s Olympic list.

The 30-year-old Ardina is now ranked 55th and will look to hold on to earn a ticket to Paris. Meanwhile, Yuka Saso has risen to No. 6 in the women’s world ranking thanks to her victory in the US Women’s Open, which means she will return to the Olympics for the second time, this time for Japan.

Saso tied for ninth competing under the Philippine flag in the 2021 Summer Games.

country’s leading professionals, her chances of humbling her more experienced rivals remain high.

third.” Nelly Korda, United States: The Olympic gold medalist in Tokyo, Korda recently ran off five straight victories on the LPGA Tour to reclaim the No. 1 ranking and establish herself anew as the best player in the women’s game.

With Djokovic, the owner of three French Open titles, gone from the bracket, and Rafael Nadal—owner of a record 14—eliminated in the first round, someone will be holding the French Open men’s trophy for the first time on Sunday.

The group of remaining contenders includes No. 2 seed Jannik Sinner, a 22-year-old Italian who defeated No. 10 Grigor Dimitrov 6-2, 6-4, 7-6 (3) on Tuesday to get to the semifinals and now is assured of replacing Djokovic atop the ATP rankings next week. Sinner won the Australian Open in January and becomes the first man from his country to reach No. 1. His match against Dimitrov was in progress when news of Djokovic’s withdrawal spread. So Sinner had no idea until he was asked about it during an on-court interview after his win.

“Seeing Novak [injured] is, for everyone, disappointing,” Sinner said, “so I wish him a speedy recovery.” And as for his newfound status? “It means a lot to me, for sure,” said Sinner, who will renew his exciting rivalry with No. 3 Carlos Alcaraz in Friday’s semifinals. AP

group of remaining No. 2 Sinner a old Italian who defeated rigor Dimitrov 6-2, (3) on to e semifina ls and ssured of ov ic k ings next week er won an r y omes man to o. 1 m atch D imitrov rog ress when w al So no our t w w in.

up against top-seed Boston in a storyline similar to rich, privileged kid meeting struggling, self-made man.

But not really, because before getting to wear an armor of seeming invincibility, Boston had shed tears and had its heart broken, too many times before. And Dallas had conquered the playoffs because it made the best roster-building decisions of its life since drafting Luka Doncic in 2018 by adding Kyrie Irving, Dereck Lively, Grant Williams and Derrick Jones, Jr.

The two teams are alike in more ways than one. Both have the stars, both have young coaches. Both have played the waiting game too long. The Dallas Mavericks last won their one and only NBA championship in 2011. The 17-going-on-18 Boston Celtics last wore a ring in 2008.

Now the stars have aligned and the waters have parted and these two long-suffering teams are ready and eager to raise another banner to their rafters. It is time.

Will the Boston Celtics continue their season-long dominance in the series? Will the Dallas Mavericks pull off a surprise and negate the luck of the Irish in this one?

So many factors to consider, but here’s one. It’s going to be a Battle of Best Duos. Luka Doncic and Kyrie Irving versus The Jays of Jaylen Brown and Jayson Tatum. But wait, there’s a third J named Jrue Holiday. Admittedly, the two-headed monster that is Luka and

Nasa Hataoka is the next best female Japanese player at No. 17. On top of the rankings is Nelly K orda of the US despite her disastrous early exit from the US Women’s Open, while fellow American Lilia Vu is in second spot.

Key Dates THE Official World Golf Ranking from June 17 determines the 60-player field for the men’s competition. The OWGR from June 24 determines the 60 players for the women’s competition. Countries may have two players, or up to four players if they are among the top 15 in the OWGR. The men’s competition is August 1 to 4. The women’s competition is August 7 to 10.

Athletes to Watch Scottie Scheffler, United States :

Kyrie will be a problem for the Celtics. When they’re on, they’re on and both Luka and his new pardner always find a way to score, somehow or other. The Mavs are also excellent rim protectors. And the Celtics are elite 3-point shooters. When the Celtics’ threes come pouring in, the rim may lose its protection, and the Green cavalry can come charging in. Boston’s offense is hard to stop when all five men are locked in. The dynamics in this aspect of the game will be an interesting thing to watch. Going back to the Duo scenario, did you know that championships past have been won on the shoulders of star duos? Shaq and Kobe for the Lakers, LeBron and Dwayne Wade for Miami. Steph Curry and K lay Thompson for GSW. MJ and Scottie Pippen for the 90s Chicago Bulls. So many things to watch out for in this kaleidoscopic match-up. Like who’s good enough on the Celtics’ side to guard Luka and Kyrie and keep their production low? What’s the Mavs’ formula for eluding or crushing the vaunted Celtics defense? In turn, what kind of defense will the Mavs concoct to stop the Celtics’ fluid offense?

So many scenarios that are just as good to watch on the side. What will Kyrie’s new adventure in the Garden be? Everybody seems to have grown up since the days when Uncle Drew burned sage, stomped on Lucky on the Celtics’

Lydia K o, New Zealand : K o started the LPGA season with a victory and is closing in on enough points for the LPGA Hall of Fame. She is the only woman to earn an Olympic medal in Rio de Janeiro (silver) and Tokyo (bronze).

Celine Boutier, France Boutier had a breakout season in 2023 with four victories, including her first major at the Evian Championships in France. She is certain to be a crowd favorite at Le Golf National. With AP

logo and did a smooth but not so subtle raising of two dirty fingers behind the back of his head at the Garden crown. Kyrie has acknowledged that his past TD Garden moment was regrettable—“wasn’t a great reflection of himself.” But the Boston faithful don’t forgive easy. And they never forget. Brian Martin of NBA.com says there are eight things that the Celtics have in common with other past champions. They are: a star duo, elite offense, elite defense, scoring more points than they allow their opponents, three-point shooting prowess, two all-defensive guards, 75+ wins and 20 or fewer losses in the season, and the privilege and luxury of being well-rested.

Look, the 2023 Denver Nuggets had nine days off last year before they played their NBA finals series. As did the Golden State Warriors in 2017.

The Boston Celtics were 2-1 in the playoffs when they were on exactly 9 days of rest, all-time, says StatMuse.

If the stats hold true, we can all raise a cup of joe to the coach, Mazzula. And Boston’s rafters will finally have that No. 18 hanging up there along with the rest.

In the end though, the basketball gods decide. Luka and Kyrie can ride off beaming into the sunset. Or the three Jays plus ‘Old Man” Al, Derrick White, the comebacking Kristaps Porzingis and the rest of the crew will be grinning from ear to ear.

Envoys&Expats

‘The

role of the media in diplomacy’

MR. D. EDGARD A. CABANGON, chairman of the ALC Media Group; Mr. Benjamin V. Ramos, president of the BusinessMirror; Ms. Lourdes M. Fernandez, editor in chief of the BusinessMirror, distinguished members of the diplomatic corps; representatives from government, business, the media, and the academe; members of the expatriate community in the Philippines; friends, ladies and gentlemen: Good evening.

I wish to thank BusinessMirror for the invitation to this gathering of notable personalities from the diplomatic cor ps, expatriate community and media. I also wish to thank Mr Benjamin V Ramos for the kind introduction.

I take t his oppor t unity to acknowledge the efforts of BusinessMirror for its trailblazing initiative to cover developments in the diplomatic field and our foreign friends

living in the Philippines through its Envoys&Expats section. This endeavor comes as no sur prise, as BusinessMirror’s former chairman emeritus is the late Ambassador Antonio Cabangon-Chua, a fellow diplomat who knows the value of information in our line of work.

Envoys&Expats has become an important source of reliable information of the goings-on in the diplomatic cor ps, and by extension of

the engagements of the Department of Foreign Affairs with the cor ps. It is a fitting tribute to the crucial role that the diplomatic cor ps plays as a valuable partner of the government in many bilateral undertakings. No less than President Ferdinand R. Marcos Jr recognized the assistance of the diplomatic cor ps in creating new opportunities for the countr y, and in furthering cooperation in various settings.

It is in this context that I highlight the foreign policy direction of President Marcos Jr Excellencies, ladies and gentlemen: Our foreign policy has shifted into high gears, as soon as President Marcos Jr assumed office and took the mantle as the “Chief Architect of the Philippine foreign policy” in June 2022. His foreign policy provided the much-needed “diplomatic push ” through renewed active and strategic engagements with the international community to usher the countr y back into high growth trajector y after reeling from the globally disruptive Covid-19 pandemic, and against the backdrop of regional tensions which are affecting countries around the globe.

Despite lingering effects of these global shocks, we have managed to secure our economic foothold from further shake-up through a combination of domestic and externallyfocused strategies that called for a st rateg ic, w i llf u l and responsible conduct of our diplomacy, which the

Department of Foreign Affairs—under my charge—manages on a daily basis through its 94, but soon to be ninety-eight 98, Philippine embassies and consulates-general scattered across the continents.

President’s foreign policy directions

LADIES and gentlemen: As mandated by the Philippine Constitution, we have continued to char t an independent foreign policy in our i nte r nat ional engagements t h at seek to st rengt hen ex i st i ng all iances and build new par tnerships w ith like-minded states. In pursuit of the independent foreign policy, the President has set out his foreign policy priorities that help define our national identity and what we want to achieve as a member of the community of nations. Allow me to enumerate these priorities and briefly elaborate on them.

First, expanding and deepening economic partnerships: We deepen i nte r nat ional pa r tne r s hi ps w it h countries and development institutions primarily to drive our development agenda on the international stage. We achieve this through economic diplomacy aimed at re-kindling trade and investment business interests in the Philippines by foreign governments and international businesses. We pursue these economic partnerships with traditional allies and new partners from across the regions. Several investment pledges of the

countr y were obtained by the President during his state visits and official trips in the last 20 months since his assumpt ion. T he Depar tment of Trade and Industr y has reported that these investment pledges have reached $ 72.2 billion—or P4.2 trillion—as of December 2023 w ith some of these pledges already being actualized substantively and tangibly into concrete projects.

Second, moder n i zing all i ances w ith strategic partners: T here are few countries with whom the Philippines has reached an advanced level of diplomatic maturity in terms of breadth and depth of relations over the course of time. This has opened new opportunities for modernizing alliances such as in defense and related areas, enabling the countr y to better respond to internal and external threats that pose serious threats to our sovereignty and territorial integrity. These alliances have also enabled the countr y to be better equipped and prepared in responding to natural and man-made calamities and disasters. Coming in various forms, defense cooperation has become a prominent feature of our diplomacy with select countries and this is expected to build a robust national defense capability in years to come.

T hird, promoting a ru les-based inter national maritime order: As an archipelag ic and maritime nation, t he Phi l ippi nes is i nev itably and naturally drawn to issues related to the seas and oceans and our im-

med iate surround ing waters. Our connectedness in our oceans and seas, and our shared responsibi lity in their stewardship help define our national identity. T his identity is deeply ing rained in our national consciousness that manifests in our actions and effor ts in promoting the United Nations Convention on the Law of the Sea or UNCLOS, and the South China Sea A rbitration Award of Ju ly 2016, which are the tw in anc

June 6, 2024

Envoys&Expats Night 2.0: Expanded, enhanced format welcomed by diplomats, embassies, expat executives

ASHOW of force and support to the pioneering newspaper section for the

bassador Sonexay Vannaxay of Lao

People’s Democratic Republic, Ambassador Dato Abdul Malik Melvin Castelino Anthony of Malaysia, Ambassador Dr Imtiaz A hmed K azi of Pakistan, Ambassador Marat I. Pavlov of Russia, Ambassador Bartinah Ntombizodwa Radebe-Netshitenzhe of South Africa, Ambassador Tull Traisorat of Thailand, and Ambassador Lai Thai Binh of Vietnam.

consciousness on foreign policy in society, but also empowers the society to engage in educated conversations with policy makers in government.”

Lev iste also g raced t he occasion.

T his was ev ident as the BusinessMirror gathered more than 200 guests, bannered by resident ambassadors, embassy officials, expat executives, Philippine government officials, colleagues from the ALC Media Group as well as officials and special guests of the broadsheet and ALC Group of Companies for the Envoys&Expats Night 2.0 on May 23, 2024 at the Glass Ballroom of Okada Manila.

Notable guests are the following heads of missions: Ambassador Hae Kyong Yu of Australia, Ambassador Phan Peuv of Cambodia, Ambassador Huang X ilian of China, Ambassador K arel Hejč of Czech Republic, Ambassador Juha Pyykkő of Finland, Ambassador Ilan Fluss of Israel, Am-

No less than the Secretar y of Foreign Affairs Enrique A. Manalo—formally introduced by BusinessMIrror president Benjamin V Ramos—graced the special occasion as guest of honor In his keynote address, the countr y’s top ambassador extolled the role of media in diplomacy, citing its “active role… in bringing relevant news content not only to help raise awareness and

As a token of g rat it ude, ALC Group of Companies chair man D. Edga rd A. Cabangon, as well as BusinessMirror off icials led by Ramos, publisher T. Anthony C. Cabangon and editor in chief Lourdes Mol ina-Fer nandez presented t he framed f irst page of the section’s expanded and en h anced for mat whic h feat ures hi s spec i ally designed caricature.

Senate Majority Floor Leader Franc is Tolent ino, Senate Deputy Majority Floor Leader Ma rk Vi lla r, Sen. C hristopher Law rence, Rep. G u s Tamb u nt i ng of P a r ana qu e C ity, Rep. Zaldy Co of Albay and and Batangas Vice Gover nor Ma rk

After the opening remarks from Okada Manila’s vice president for Hotel Ope r at ions Robe r t Scott, guests were warmly welcomed by Chairman D. Edgard A. Cabangon. The latter cited his late father—the former Philippine ambassador to Lao PDR Antonio L. Cabangon Chua— as integral in linking the countr y’s d iplomat ic f ront w it h t he press, thus leading to the creation of BusinessMirror’s weekly special section devoted to the local diplomatic and expatriate circles in Envoys&Expats.

For her part, Molina-Fernandez explained that Envoys&Expats will revert to its original four-page format ever y third T hursday of the month, after more than four years of compressed releases which started during the pandemic. Specifically, she pointed out that the section will carr y more significant changes by being “a symposium for pressing global issues.”

Meanwhi le, BusinessM irror publisher T. Anthony C. Cabangon led guests to a toast for the “enhanced and expanded” section, as he noted its role in recognizing the efforts of embassies in their cooperation for the countr y’s growth and progress through the “Mission PHL: the Envoys&Expats Awards,” which won for the business broadsheet its first Gold Anvil in 2019. T he aforement ioned off ic i als committed for the section to broker peace, enduring friendships, as well as better business and human progress, as carried by the BusinessMirror: the paper that embodies the best values of diplomacy.

By Mike Policarpio and Malou Talosig-Bartolome

Photos by Gil Roy Domingo, Nonoy Lacza, Bernard Testa & Rudy Esperas

&Expats BusinessMirror, ‘E&E:’ Leaders in economic diplomacy coverage

TO our friends from the

ladies and gentlemen: Welcome to this year’s Envoys&Expats Night. After 5 years, we gather anew, as we overcome challenges of the pandemic.

Standing here in front of you I remember my father: the late ambassador Antonio L. Cabangon Chua. He accomplished much as a visionar y businessman and phi lanthropist, but serving as the Philippines’s envoy to Lao People’s Democratic Republic was among his most cherished roles. His path to becoming an ambassador reflected the Filipino value of “ pakikisama ” —building harmonious relationships. Initially hesitant due to his business commitments, he later accepted the role as a call-

ing to ser ve both his homeland and Lao PDR. Throughout his tenure, he exemplified the said value, as he forged meaningful connections that transcended cultural boundaries.

In Lao PDR, he saw the transformative power of pakikisama He understood that true diplomacy is not just about signing agreements or attending official functions; it is about building bridges of understanding and respect between nations.

One of the ways he demonstrated this was through his support for Lao-

tian scholars sent to Philippine universities. He believed that by nurturing those young minds, he was sowing seeds for a brighter future—one where mutual understanding and cooperation would flourish

My father believed in the power of partnerships, understanding that concrete programs and projects are key to st rengt hen i ng soc io-economic, humanitarian, and cultural ties between nations. Besides his diplomatic efforts, he was a lover of mass media and supported many media-related initiatives, eventually founding and investing in his own enter prise.

In 2005 h e fo u nded B usinessM irror W it h hi s pass ion for d iplomacy, he pioneered t he Envoys&Ex pats section. It became a leader i n econom ic d iplomacy cove r age, showcas i ng stories of diplomats, expatriates, and global citizens, as they highlighted their experiences, insights, and contributions to inter national relations.

It ser ves as a platfor m for dialog ue, understanding, and collaboration.

Tonight, we revisit the pre-pan-

demic glor y when we last held this Envoys&Expats Night. We are happy to bring you once again, this gathering to reassure ever yone that we remain at your ser vice, providing a platform within our media group for engaging with one another informing each other about our countries and gover nments, and showcasing the highest form of diplomacy in a world often overshadowed by conflict.

We are spreading our wings once more, expanding our diplomatic cov-

AMBASSADORS, FOREIGN CHAMBERS GRACE E&E NIGHT

2.0

‘The role of the media in diplomacy’

Continued from C

However I must note that managing foreign policy is one thing, and communicating it to the public is another This is where the media comes in.

Role of media in diplomacy

LADIES and gentlemen: I have seen the media evolve and expand over time. Many years ago, foreign policy has rarely drawn significant attention among media outfits, as coverage was primarily focused on national and local stories. Infor mation on foreign policy was relatively scarce to the public.

But, as more attention is riveted on inter national affairs and diplomacy, foreign pol icy h as become front and center in the media’s repor tage—be it the local or inter

Castaneda (Canadian Chamber of Commerce of the Philippines); Counsellor Gerson Cruz Gimenes (Embassy of Brazil); Ambassador Ilan Fluss (Israel),

Sonexay Vannaxay (Lao People’s Democratic Republic (PDR), Ambassador Hae

British Chamber anticipates Anti-Financial Account Scamming Act’s swift passage

THE British Chamber of Commerce Philippines has welcomed Congress’ adoption of the Senate’s third reading version of the proposed Anti-Financial Account Scamming Act (AFASA).

The act has been noted as one of the priority measures under President Ferdinand R. Marcos Jr.’s administration.

Having been approved by both Houses, AFASA is now awaiting the Chief Executive’s signature. As emphasized in the measure, it aims to protect the public from cybercriminals and fraudulent activities within electronic commerce and financial industries.

Executive Director and Trustee

Chris Nelson of BCCP also called on its quick passage to support the country’s efforts toward strengthening its cybersecurity and digitalization efforts.

“Cybersecurity is a worldwide issue, and is not just impacting the Philippines. In that context, I would stress two key points: the first is the Cybersecurity Act and the [other is the AFASA, which] are both priorities of the government. We think that’s very important to get passed in this period,” said Nelson.

T he BCCP off icial shared in an inter v iew that “we had an event in March w ith one of our key members, CyberQ , [whic h hig h l ig hted t he

presentation by the Depar tment of Infor mation and Communications Technology] Cybersecurity is a key issue par ticu larly for the f inancial sector, but also across the whole area. We strongly urge the passage of those key leg islations, which w ill reinforce and make the companies and the public even more aware of this key issue.”

In a statement, the British Chamber commends the efforts of the Philippine government in penalizing cyber-related crimes. It also emphasized on the significance of the growing relationship of the Philippines with the United Kingdom as one of the major players, and is known for its cybersecurity excellence.

The chamber looks forward to establishing closer ties and increased collaboration between the UK and the Philippines to further boost the latter’s cybersecurity posture.

National government support THE Bangko Sentral ng Pilipinas (BSP) has also endorsed the passage of this bill, allowing them to apply for cybercrime warrants and request

the assistance of National Bureau of Investigation and the Philippine National Police.

Senior Assistant Governor and General Counsel Elmore O. Capule identified the top three nature of cyber incidents in 2022, which include fraud (5,211 incidents), phishing and its variations (6,295 incidents), as well as account takeover or identity theft (3,104 incidents), according to the BSP data.

In a Senate statement, Senator Mark Villar also identified financialrelated cybercrimes, emphasizing that, “with the emergence of new forms of scamming like phishing, vishing, and smishing, our laws must keep up with the dynamic changes of the digital environment. We are proposing the AFASA to ensure that there will be legislation…specifically directed against scammers who utilize financial accounts.”

NZ ‘decarbonization’ firms keen on investing in PHL

Tave r age, w hi c h means it’s a “dynam i cally c h ang i ng and qui ckly advanc i ng nat ion.” “W hen you’ve got a you ng d ri vi ng force, t h at exc ites u s, and t hi s i s t he f ir st t i me we h ave done

b u s i ness i n t he Phi l i pp i nes w it h Ca r bon Cl i ck. I h ave wor ked i n p rev iou s compan ies, b ut t he key for u s was a ve r y qui ckly evolvi ng comm itment to deca r bon i zat ion and redu c i ng cl i mate c h ange along w it h ot he r env ironmental i n it i at i ves i n t he Phi l i pp i nes for a long t i me,” Rou se poi nted out. A u ckland-based Ca r bonCl i ck i s a ce r t i f ied “B Cor p” t h at a i ms to help b u s i nesses u nde r stand, r ed u ce, and offset ca r bon v i a hi g h - qu al ity, hi g h ly vetted cl imate p ro j ects t h at al i gn w it h t he Un ited Nat ions’ Su sta i nable Development Goals, whi le prov id i ng end-to-end t r anspa rency to s how genui ne i mpact. It i nteg rates tec h so t h at b u s i nesses s u c h as a irl i nes, hotels, and event organ i zers can offe r cl ients t he oppor t u n ity to offset t r avel, w hi le enabl i ng teams and c u stome r s to c reate a movement by u nde r stand i ng and redu c i ng t he ir em i ss ions. Rou se sa id Ca r bonCl i ck h as a ca r bon-offsett i ng platfor m t h at meas ures em i ss ions and helps to place offsets aga i nst t hose em i ss i ons fo r compan i es t h at want to a i m towa rd “net

i nf r ast ru ct ur e manage r Mo rrison, poi nted out t h at t he Phi l i pp i nes’s f ir m pol i cy comm itment towa rd g row i ng RE h as gotten t he company i nte rested i n wor k i ng close r w it h t he cou nt r y towa rd develop i ng s u sta i nable ene r gy. He sa id t he cou nt r y’s plan to ra i se t he u se of RE to 50 percent by 2040 means “t he re’s an enor mou s oppor t u n ity; and w hen you comb i ne t h at w it h a g row i ng pop u lat ion and a g row i ng economy, you’ll bot h need more ene r gy, and you’ll need more of it to be renewable, and t h at l i nes u p n i cely for u s.” A New Zealand-based company, Newf ield sa id Morri son i s quite fam i l i a r w it h i nvest i ng i n RE for more t h an 3 0 yea rs: “[O urs] i s al ready a ma r ket t h at’s ove r 90 pe rcent ‘renewable,’ so we’ve got expe rience, capab i l ity, and cap ital t h at we can b ri ng to help w it h w h at t he Phi l i pp i nes i s t r y i ng to ac hieve RE,” he sa id. For t he past 3 5 yea r s, it h as i nvested globally i n p ri vate and l i sted i nf r ast ru ct ure on be h alf of i nst it ut ional i nvestor s and sove re i gn wealt h cl ients. Today, t he f ir m h as ove r NZ $3 8 b i ll ion of assets u nde r management globally. Morri son’s long i nvestment hi sto r y, deep ope r at i ng expe rt i se, and w ide networ ks i nfor m i ts hi g h ly select i ve, long-te r m i nvestment st r ategy.

PHL’s advantages

CEO Wayne Mu ll i gan of Well i ngton-based NZ B io Forest r y, conc urred w it h hi s two cou nte r pa r ts

t h at t he Phi l ippi nes’s you ng populat ion demog raphic i s i nterest i ng, as well its geog r aphi cal locat ion i n As i a : “T he re’s a cons ide r able amou nt of b iomass, and w h at we do i s conve r t forest r y—t he w hole fo r est— i nto b i oc h em i cals and b iomate ri als.” NZ Bio Forest r y i s an i nnovat ive tec h nology-based, M āori-led company t h at conver ts wood biomass i nto g reen bioc hem icals and biof uels. In t ur n, it c reates a more susta inable economy and improves t he econom ic value of New Zealand’s forest r y sector Mu ll i gan sa id it h as t he systems and tec hnology to produce ca rbon-negat ive b io-plast ics, b io-c hem icals, and b io-f u el u s i ng b iomass sourced f rom plantat ion forests. W hi le t he company was doi ng projects i n Ta iwan and Si ngapore for coal replacements, t he CEO sa id some Phi l ippi ne gover nment off ic i als approac hed t hem and asked i f NZ Bio Forest r y can help t he cou nt r y i n solv i ng t he c h allenges i n its coal plants i n t he shor t ter m, whi le it t r ansit ions to w i nd, sola r and ot her renewables i n t he long ru n. “We looked at some of t he forest r y estates and t he forest r y pol ic ies f rom your depa r tments, and how t hey managed and wor ked t hroug h [suc h] We see t h at t here’s an oppor t u n ity, and we’re i n d i sc u ss ion w it h a cou ple of pa r t ies i

Australian ambassador cites investment focus in Cordillera

BAGUIO CIT Y—Australian ambassador to the Philippines Hae Kyong (H.K.) Yu PSN has cited possible investment areas in the Cordillera Administrative Region (CAR).

“The ‘Southeast Asia Economic St rategy,’ w it h t he Phi l ippi nes… among the most important countries to Australia, clearly highlights the areas that we think have potential for different kinds of investments,” the ambassador said during a press conference here. “Those areas are mining, green energy, food and agriculture, education, and a little bit [of ] digital economy.”

The envoy, who was in the city for the 78th Philippine-Australia Friendship Day celebration, said the region has the five growth sectors highlighted in the above-stated strategy.

“There is no reason…this region cannot attract investors from Australia…,” she added. “Do you know that you are also a natural resourcesrich region?”

Yu pointed out that the Philippines and her country are actively pursuing ways to turn the mining sector into a significant growth engine, while ensuring that it is done sustainably and inclusively.

T he d iplomat sa id Au st ral i an firms are highly skilled at mining, as they can see huge potential for investments, as she cited the importance of tapping renewable energy (RE).

“We learned that in Baguio, you get a very small percentage of RE. That has to change very fast if you are going to save…our planet,” the envoy explained. “Australia and [its] companies have…great know-how, and we are ready to provide much-needed investments to turn things around.”

The ambassador also mentioned the hand and loom-woven fabric of the Cordillera as a possible export to Australia.

“I love them!” she exclaimed. “I am going to be wearing one to a reception.” Liza Agoot/PNA

Exhibit marks 60 years of EU, PHL mutual ties

HE mu ltimed ia ex hibition:

Ton t hose, a re fa ir ly s i gn i f i cant.” To en h ance t he b u s i ness pa r tne r s hi p between New Zealand and Phi l i pp i ne compan ies, Rou se poi nted out t he need to st rengt hen t h e ir f r ee-t r ade ag r eement, al i gnment w it h t he comm itments w it hi n t he Pa ri s Ag reement, and t he ab i l ity for t he two nat ions to wor k toget he r For Newf ield, t he most important factor to att ract investors in t he cou nt r y is to ensure stabi l ity in t he business pol ic ies, and t h at people’s climate commitments only get st ronger over t ime: “[On inf rast ruct ure, we’re bui ld i ng t hi ngs t h at w i ll last for 30 yea rs] to 40 yea rs….It’s impor tant for us t h at t here is pol icy stabi l ity for long periods of t ime. T h at’s wh at we’re hoping to see in t he Phi l ippines.” Mu ll i gan sa id bot h New Zealand and Phi l ippi ne bureauc r ac ies mu st wor k toget he r to ac hi eve syne r gy. Accord i ng to hi m, it i s v ital to enable Ki w i and i nte rnat ional compan ies to be able to wor k t hrou g h t hose p rocesses i n t he most exped ient way poss i ble and enable deployment : “I t hi nk t h at’s t he key, and w hen you see more people and more compan ies goi ng t hrou g h t hi s, [t he re w i ll be] mu c h more att r act ion to t he Phi li pp i nes.” Rizal Raoul S. Reyes

“Shared Journey: 60 Years of EU-Philippines Diplomatic Relations” at the Yuchengco Museum, RCBC Plaza, Makati City serves to commemorate six decades of linkages between the country and the European Union.

The showcase, which runs until June 14, documents the 60 years of EU-Philippines ties since the presentation of credentials in 1964 by former ambassador Vicente I. Singian, who was the first Philippine envoy to the European Commission.

The EU Delegation to the Philippines was officially opened on May 15, 1991.

The exhibition, organized by the EU Delegation to the Philippines, uses images, sounds, and objects to chronicle the friendship and cooperation of the two partners.

Recently, it also conducted the choral festival “Sounds of Celebration: Sixty Years of EU-PH Relations,” in partnership with the University of Santo Tomas.

Shared journey

AMBASSADOR Luc Véron and Undersecretary Eduardo de Vega of the Department of Foreign Affairs opened the exhibition, with Executive Director and Curator Jeannie Javelosa of the Yuchengco Museum. Véron underscored the longstanding partnership of the EU with the

Philippines and their shared commitment to a rules-based international order

The ambassador also mentioned the collaboration on circular economy, sustainable energy and enhanced connectivity to build a greener and more interconnected future.

Background

THROUGH the years, political and diplomatic relations between the EU and the Philippines have transitioned from being primarily focused on developmental goals to a wide range of areas, which includes political relations, trade and economic cooperation, security, transport, health, education and culture, among others.

In 2018, t he “EU- Phi l ippi nes Framework Agreement on Partnership and Cooperation” entered into force. This agreement signaled the init iat ion of collaborat ion across various areas of mutual interest encompassing politics, society, economics, counterterrorism, transnational crime prevention, human rights, justice, peace efforts, nonproliferation of weapons of mass destruction, trade, migration, maritime labor, employment, d isaster-risk management, and health

From 1991 to 1994, the Philippines served as country-coordinator

BCCP executive director/Trustee Chris Nelson (left) with Trade Commissioner Martin Kent

CURATOR Jeannie Javelosa, Ambassador Luc Véron and Undersecretary Eduardo de Vega lead the ribbon-cutting rite for the showcase.

ROUSE