BusinessMirror June 13, 2023

Bizmen, experts push tax holiday for startups

IMPOSING a tax holiday for startups may help the Philippines become the entrepreneurship hub of Asia, according to Potato Corner CEO Jose Magsaysay Jr.

“ I like the idea of having a tax holiday for startups. That will really boost...[because the Philippines has a chance] to be the entrepreneurship hub of Asia,” Magsaysay told some members of the media during the Prelude to the International Tax Conference 2023 held Friday in Makati City.

For his part, Mon Abrea, Founding Chairman and Chief Tax Advisor of Asian Consulting Group (ACG), said at the same media briefing that the Startup Act in

the country “initially” had a twoyear tax exemption.

’Yung sa Startup Act  kasi initially may two-year tax exemption na parang adjustment period preparing you to become an established business  pero nawala ’nung  final version,” Abrea explained.

[The Startup Act initially had a two-year tax exemption that’s like an adjustment period preparing you to become an established business, but it was scrapped in the final version].

A brea rued that the said Startup measure is lacking tax benefits. In contrast, he said, partly in Filipino, “in Singapore they have it.  For two years for the first 100,000 dollars you are exempted. It allows you to

grow and establish yourself.”

A s representatives from the International Monetary Fund (IMF) and World Bank (WB) are expected to present at the upcoming International Tax Conference on June 15, Abrea pinned his hopes on these “international experts” to set the “best practices” to provide assistance for startups, among others.

S enate Bill No. 2217 is a measure exempting start-up enterprises from taxes arising from the first two years of operation.

Section 4 of SB 2217 specifically laid out the exemptions from taxes and fees for start-up enterprises.

T hat provision exempts a startup enterprise from all national and local taxes for the first two years of its operation, provided that the

enterprise “is not an affiliate, a subsidiary, or a franchise of any existing company.”

A nother condition set by the provision: “In the case of a sole proprietorship or partnership, the proprietor or the partners of the Start-up enterprise shall not have any previous or other existing registered companies, partnerships or businesses.”

M eanwhile, in the case of a corporation, the measure states that, “Each stockholder of the start-up enterprise shall have at least a 5 percent share in stocks and the corporation shall have no nominal stockholders or stockholders holding the shares in trust for others.

See “Bizmen,” A2

BusinessMirror

DTI: RE PROJECTS TO FILL A THIRD OF BOI APPROVALS

By Andrea E. San Juan

I n an interview with reporters, Pascual said, “That’s only for [power] generation.”

T hey are also engaging in talks with a potential investor for renewable energy but related to manufacturing intended for export, Pascual added.

I n line with this, the Trade chief explained that the process of investing in the country is a tedious one, noting, that the feasibility study lasts from half a year to one year.

After this, he said the investor has to apply for registration with BOI

or the Philippine Economic Zone Authority (PEZA), which he said would take another year.

At the Offshore Wind Conference held two weeks ago, Pascual invited Chinese firms to bring in their technology and expertise in equipment design and manufacturing for solar and wind power generation.

At the weekend, Jaime FlorCruz, the new Philippine Ambassador to Beijing, revealed that a big Chinese wind power company is interested in investing in the Philippines.

D.O.T.

NOW SAYS GRAB PROJECT INCLUDES PRO TOUR GUIDES

By Ma. Stella F. Arnaldo @akosistellaBM

Special to the BusinessMirror

THE Department of Tourism (DOT) appears to have backtracked on earlier announced plans of using a ride-hailing app’s partner-drivers as tour guides.

A fter tourism stakeholders loudly protested and took the DOT to task about its project with Grab Philippines, the agency now says tourists will be able to “book a tour guide directly” using the app.

I n a news statement issued late Thursday, DOT-National Capital Region (NCR) Director Sharlene Zabala-Batin said the GrabTours Manila project

“will offer tourist transportation” from three DOT-accredited accommodation establishments, namely, Sheraton Manila Bay, Okada Manila, and Solaire Resort and Casino. Their destinations will initially cover two major tourist zones in Manila: Intramuros and Binondo. The DOT didn’t say, however, if it will be accrediting Grab vehicles as tourist transport services.

Hastily-called consultations

SOURCES among the tour guides associations said the DOT hastily called them to a consultation  on  June 9, after notifying them the late afternoon before, so they could listen to a presentation by Grab representatives.

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand R.

Marcos Jr. has vowed to eliminate the root causes of “unfreedom” through “wise policies and reforms” under his administration.

I n his speech at the 125th Anniversary of the Philippine Independence at the Quirino Grandstand in Manila last Monday, Marcos said the continued existence of poverty, inadequate economic opportunities, inequality and apathy prevent many Filipinos from truly enjoying the “blessing of independence and democracy.”

“ We will strive to remove the ‘unfreedoms.’ We will aim to feed the hungry, free the bound and banish poverty. These are primordial, moral and existential imperatives

that laid upon your government,” Marcos said.

H e noted his administration has already laid down the groundwork to implement the necessary reforms to address such issues through the Philippine Development Plan 2023-2028.

Uphill road

HOWEVER , he stressed the important role of each Filipino in the “long uphill road” in the implementation of the said plan.

“But as integral actors in our democracy, we are all involved in this collective pursuit of real freedoms. That duty rests with all of us. So once again, I appeal for unity, and solidarity in our efforts to protect our hardfought freedom and achieve genuine national progress,” Marcos said.

FREEDOM DAY President Ferdinand R. Marcos Jr. is joined at Monday’s 125th Philippine Independence activities at Quirino Grandstand on Monday (June 12, 2023) by First Lady Liza Araneta-Marcos; presidential sons Ilocos Norte 1st District Rep. Ferdinand Alexander, Joseph Simon and William Vincent; Cabinet members; and Manila officials led by Mayor Honey Lacuna-Pangan. The celebration featured a civic and military parade by uniformed personnel of the Armed Forces of the Philippines, Philippine National Police, Philippine Coast Guard, Bureau of Fire Protection, and Bureau of Jail Management and Penology. A set of commemorative stamps was presented to the President by Postmaster General Luis Carlos. JOEY RAZON/PNA

Mayon spews lava in gentle eruption, thousands warned

By Jim Gomez and Aaron Favila| Associated Press

LEGAZPI, Philippines—The Philippines’ most active volcano was spewing lava down its slopes on Monday, prompting officials to warn tens of thousands of villagers to be prepared to flee from their homes if the gentle eruption turns into a violent and lifethreatening explosion.

More than 13,000 people have left the mostly poor farming communities within a 6-kilometer (3.7-mile) radius of Mayon Volcano’s crater in mandatory evacuations since volcanic activity increased last week. But an unspecified number of residents remain within the permanent danger zone below Mayon, an area long declared off-limits to people but where generations have lived and farmed because they have nowhere else to go.

W ith the volcano beginning to expel lava Sunday night, the highrisk zone around Mayon may be expanded should the eruption turn violent, said Teresito Bacolcol, director of the Philippine Institute of Volcanology and Seismology. Bacolcol said if that happens, people in any expanded danger zone should

PBBM

Continued from A1

Our independence was not the end but merely the principal means

be prepared to evacuate to emergency shelters.

What we are seeing now is an effusive eruption,” Bacolcol told The Associated Press. “We are looking at this on a day-to-day basis.”

F rom a distance, Associated Press journalists watched lava flow down the volcano’s southeastern gullies for hours Sunday night.

People hurriedly stepped out of restaurants and bars in a seaside promenade of Legazpi, the capital of northeastern Albay province about 14 kilometers (8.5 miles) from Mayon, many of them snapping pictures of the volcano that’s a popular tourist draw known for its picturesque conical shape.

M ayon’s renewed restiveness has also struck fear and brought

to achieve full development of the Philippines,” he added.

Vibrant republic

THE President also recognized the Filipinos, who fought for the coun -

new suffering.

Marilyn Miranda said she, her daughter and 75-year-old mother, who recently suffered a stroke, fled their home in a village within the danger zone in Guinobatan town on Thursday and sought shelter at a sweltering high school turned into an evacuation center. Her nephew returns to their home each day, as do other men in their impoverished rural neighborhood to guard their houses and farm animals, she said.

From the overcrowded evacuation center, they were terrified to see the bright red-orange lava streaks gushing down Mayon’s slope on Sunday night. “We had this feeling that our end is near,” Miranda told the AP, breaking into tears. Mayon’s new eruption was one of back-to-back tragedies that struck Amelia Morales and her family in recent days. Her husband died of an aneurism and other illnesses on Friday and she had to hold his funeral wake in a crowded emergency shelter in Guinobatan because she and her neighbors had been ordered to stay away from their community near Mayon.

I need help to bury my husband

try’s independence, particularly the first President of the Philippine Republic, Emilio Aguinaldo, to bring it to its current state.

T he Philippine Independence Day commemorates Aguinaldo’s

because we don’t have any money left,” Morales, 63, said as she sat near her husband’s white wooden coffin under a flimsy open tent in a corner of the evacuation center.

“I cannot do anything but cry.”

With its peak often shrouded by the wisps of passing clouds, the 2,462-meter (8,077-foot) volcano appeared calm on Monday.

B acolcol said red-hot lava was continuing to flow down its slopes but could not easily be seen by people under the bright sun.

T he volcano had been raised to alert level three on a five-step warning system Thursday, meaning the volcano was in a state of high unrest and a hazardous eruption is possible in weeks or days. With lava flowing down from the volcano gently, Bacolcol said the alert level would stay at 3, but it could be moved up higher if the eruption suddenly turns perilous.

T he highest alert, level 5, would mean a violent and life-threatening eruption is underway with ash plumes shooting into the sky and superheated pyroclastic streams endangering more communities at Mayon’s lush foothills.

proclamation of the country’s independence from Spanish rule in Kawit, Cavite on June 12, 1898.

The heroes of our liberation would be proud to know that we have thrown off the ominous yoke of domination,” Marcos said. “ We have evolved into a healthy and vibrant republic. With a stable government supported by growing institutions and mechanisms, all of whose mandate and authority ultimately emanate from and are owed to the Filipino people,” he added.

M arcos led the country’s commemoration of the 125th Anniversary of the Philippine Independence and Nationhood with the theme: “Kalayaan, Kinabukasan, Kasaysayan (Freedom, Future. History).”

A fter participating in a wreathlaying ceremony at the Rizal Park Monument, he went to the Quirino Grandstand to watch the civic and military parade.

A mong the highlights of the event was the unveiling of the special commemorative stamp, which was presented by Philippine Postal Corporation Postmaster General and Chief Executive Office Luis D. Carlos to Marcos. Pinoy

M illennials and Gen Zs have also identified specific areas that organizations could focus on to improve work/life balance: more than 40 percent of Filipino millennials and Gen Zs would like to see their organizations create more job-sharing options, while about 40 percent would like businesses to ensure that part-time employees have comparable career advancement.

W hen it comes to where they get their work done, millennials and Gen Zs seem determined to resist a return to full-time onsite work: 76 percent of Filipino millennials and 81 percent of Gen Zs say they would consider looking for a new job if their employer asks them to return to the office full-time. About half of the Filipino survey respondents would prefer to either work fully remote or have full choice over whether they work remotely or on-site. Less than 10 percent of Filipino millennials (9 percent) and Gen Zs (7 percent) prefer to work completely on-site.

F lorCruz said he recently met the chief executive officer of Dajin Heavy Industry, the world’s largest maker of wind turbine towers and structural products for offshore wind power projects.

He said Dajin is interested in looking into setting up manufacturing plants in the Philippines.

“ They are looking for a place. They need a big area. They wish to set it up close to a port so that they can export, they can ship the products, the base of wind power equipment, overseas,” FlorCruz said in a virtual forum organized by a group of Filipino-Chinese business people.

Dajin’s chairman of the board, Jin Xin, had participated in the SinoPhilippine Renewable Energy Roundtable Business Meeting during the state visit of President Ferdinand R.  Marcos Jr. in Beijing in January.

I n 2022, Dajin delivered wind energy products and services to the Philippines worth 150 million RMB (P 1.1 billion).

F lorCruz said he also met with executives from China Power International Development and BYD, China’s equivalent of Tesla which makes electric vehicles,  who are “looking for opportunities” in the Philippines.

T he country has allowed 100-percent foreign investments in renewable energy in its bid to attain a 35-percent share of renewable energy in the country’s energy mix by 2030 and 50 percent by 2040.

D TI’s Pascual said the country also welcomes investors in the related sectors of battery energy storage systems and off-grid power supply systems. With this,

“Provided further that, all stockholders of the start-up enterprise shall not have held shares of any previous or existing corporation with at least 5 percent share therein, nor registered any former or existing sole proprietorship or partnership,” the provision also noted.

Tax confab crucial MEANWHILE , in a statement on Friday, Asian Consulting Group (ACG), a tax consultancy services firm, said the upcoming Interna -

“ They said they called us for a meeting so we could suggest ways how to go about the project. What an excuse! Now they consult us because the issue already exploded,” the sources intimated. (See, “Tourism players hit choice of Grab ‘guide,’” in the BusinessMirror , June 7, 2023.)

W hile they did air their concerns about the project, the participants noted that Regional Director Batin was not even present at the meeting, “nor any official from the central office who could speak about accreditation rules.”

DOT was mainly represented by Supervising Tourism Officer Ivan Agote from the NCR office, while Grab was represented by its Public Affairs Manager Kurt Cendaña.

S aid one officer of a tour guide association, who requested anonymity, “The bottom line is, there is still no clarity regarding the project, because they are just consulting us now. The tour guides were very emotional during the meeting, because they asked how can Grab drivers’ training be as exhaustive as our 30-day training?” DOT-accredited tour guides also have to pass the Professional Tour Guide Qualification Exam the agency administers, which consists of a panel interview, written exam, and a mock tour, the same source said.

Mtg with stakeholders today

IN a post on its Facebook page on

Pascual pitched to the Chinese officials the incentives available for RE projects.

Pascual said proponents of RE projects may opt to be qualified under Tier I or Tier II of the SIPP, adding that the choice will depend on the “attractiveness” of applicable incentives and the endorsement to be made by the Department of Energy (DOE).

T his was among the proposals that Pascual laid out to the Chinese officials as “the demand for energy, especially for green energy, is expected to outpace our current supply level.”

T he Trade chief also noted that by 2030, the Philippines aims to increase the share of renewable energy in the country’s power generation mix to 35 percent; and to 50 percent by 2040.

F rom January to May 2023, investments approved by the BOI reached P532.27 billion, a 158.72-percent increase from the P205.73-billion investment approvals recorded in the same period in 2022. The investment promotion agency said the surge was mainly driven by foreign investments in the renewable energy sector.

Meanwhile, in the first quarter, Pascual said the BOI approved three offshore wind projects with a total capacity of 1,300 megawatts and an estimated investment cost of more than P390 billion.

I n April 2023, Pascual, who is also the BOI chairman, said “we aim to attract more RE players globally as full foreign ownership is now allowed under the amended implementing rules and regulations of the Renewable Energy Act.”

tional Tax Conference “aims to address crucial topics, including global tax issues, sustainability, and digitalization.”

“As our economy undergoes swift transformations and growth, grasping the complexity of tax regulations has become a fundamental necessity. The International Tax Conference has been meticulously designed to empower Filipino professionals with the critical knowledge and acumen required to proficiently navigate this dynamic landscape effectively,” Abrea said. Andrea E. San Juan

May 12 titled, “On-demand tours in Manila launching soon,” the DOT said, “The [Grab] drivers, who will also undergo briefing on the tourist sites, will double as tour guides during the trip and will ferry the passengers using vehicles wrapped with the distinct Grab and DOT branding.” It was learned that the DOT also invited Angkas, the motorcycle-hailing app, for a similar project. (See, “DOT invited Angkas for tour guide tieup,” in the BusinessMirror , June 9, 2023.)

DOT officials and Grab representatives will meet today (Tuesday) with officers of the major tourism stakeholders groups, along with tourist transport associations in NCR, to further discuss the project. Other sectoral meetings with affected tourism stakeholders are also expected to take place before the project is rolled out.

A t their meeting on Friday, the tour guides also took issue with the use of Grab as a booking platform, “because they don’t have the capability to do so. It will come out that Grab is a tourist transport,” which also needs accreditation from the DOT.

T he online meeting between DOT-NCR, Grab, and the tour guides on June 9 was attended by about 50 professional tour guides. “More wanted to attend but the meeting platform seemed buggy and didn’t allow more participants,” said a source.

ENVIRONMENT

Secretary Antonia Yulo-

Loyzaga is pushing for the integration of the informal waste sector into the expanded producer responsibility (EPR) system for plastic packaging waste to ensure that no one is left behind as the country transitions toward circular economy.

“A more holistic overall integration of the informal sector to the EPR system needs to be targeted. Economic incentives and social incentives may be established,” the chief of the Department of Environment and Natural Resources (DENR) said in her remarks at the roundtable discussion entitled “Rethinking Plastics: EPR Paving the Way Towards Circularity” held in Quezon City last May 10.

The informal waste sector in the Philippines includes waste pickers in dumpsites and communal waste collection points.

Yulo-Loyzaga underscored the significant role of the sector in waste collection and management, and the potential contribution they could bring being the “backbone of the currently limited collection services and partly of recycling” in the country.

“Collection and sorting facilities from the informal sector may be transformed into formal activities and establishments. These can be duly registered and supported by the EPR system,” she pointed out.

Yulo-Loyzaga added: “The informal sector can also be integrated as business partners, such as NGOsupported microenterprises, franchises of formal waste management companies, operating local collection centers, and forming cooperatives and collectives. This social inclusion can be improved to develop alternative livelihoods and diversified livelihoods for our informal community.”

Yulo-Loyzaga said the DENR has put focus on upcycling, envisioning that this will enable public and private investments in waste recovery, reuse, recycling as well as manufacturing and production using secondary raw materials.

Supporting the informal sector and establishing the right infrastructure were among the critical factors identified in order to accelerate the country’s transition to circular economy and implement a successful EPR policy.

During the roundtable discussion, DENR officials and private sector representatives discussed key challenges, solutions, and opportunities for government-industry collaboration for the effective enforcement of Republic Act 11898 or the EPR Act of 2022.

The EPR law serves as the environmental policy approach and practice that requires producers to be environmentally responsible throughout the life cycle of a product, especially its post-consumer or end-of-life stage. It aims to address the

mismanagement of plastic waste and uphold circularity through maximizing the material value of plastics, thereby, unlocking their full potential to help boost parts of the Philippine economy.

During the panel discussion, DENR Undersecretary for Finance, Information Systems and Climate Change Analiza Rebuelta-Teh—together with National Solid Waste Management Commission

Vice Chair Crispian Lao, Nestlé Philippines Senior Vice President and Head of Corporate Affairs Jose Uy III, and Economic Research Institute for ASEAN and East Asia Senior Advisor to the President on Environmental Issues, Regional Knowledge Centre for Marine Plastic Debris Michikazu Kojima— discussed the urgent need for the establishment of the right recovery and recycling infrastructure to implement EPR and accelerate transition to circularity.

DENR Undersecretary for Planning, Policy and International Affairs

Jonas Leones, and DENR Assistant Secretary for Field Operations-Luzon and Visayas, and Concurrent Environmental Management Bureau Director Gilbert Gonzales facilitated the discussions.

In order to achieve circularity through EPR in the long-term, Teh said the government should establish metrics to verify accomplishments versus targets in accordance with the law provisions, give financial support to the informal waste sector, and put in place resources to establish the infrastructure for circularity.

She said that capacity development, as well as incentives for complying enterprises, and impose fines and penalties are also needed to sustain the EPR system.

In addition, Teh reiterated the significance of continuing to implement RA 9003 or the Ecological Solid Waste Management Act of 2000, which establishes segregation, collection, sorting, and recycling in local government units as well as transparency and accountability in waste management.

With over 150 participants from the fast-moving consumer goods sector, development partners, policy leaders, members of the academe, non-government organizations, and key players in waste management, the roundtable dialogue is an event copresented by the DENR and Nestlé Philippines and organized by Eco-Business.

“It is important to have the voices of all sectors be well-represented because the sustained collaboration among stakeholders and those impacted by these activities and the cooperation and compliance of companies from the private sector, are key to the successful implementation of the EPR Act,” YuloLoyzaga stressed.

‘Gibo’ vows to look after welfare and needs of vets

By Rene Acosta @reneacostaBM

THE Department of National Defense (DND) will continue to take care of the welfare and needs of Filipino veterans as ordered by President Ferdinand R. Marcos Jr. in recognition of their sacrifices that gave way to the country’s independence.

Defense Secretary Gilberto Teodoro Jr. gave the assurance during the Philippine Independence Day anniversary rites at the Mausoleo de los Veteranos de la Revolucion, which is located at the Manila North Cemetery in Manila.

“One of the essential tasks or jobs of the Secretary of National Defense is to ensure the welfare of our veterans,” Teodoro said, as the country observed its 125th commemoration of its independence.

“Yan po ay patuloy na pinagbibilin ng ating Pangulo at sisikapin po natin na masigurado natin na they get the best of care, particularly those who cannot care for themselves,” he added.

The defense chief said the task of rebuilding the country does not end with the gaining of its independence, but the work should continue until it becomes strong and looked up to by the whole world.

“That’s what I think is we should also remember along with the sacrifices of our heroes,” he said.

Meanwhile, Philippine National Police chief General Benjamin Acorda Jr. urged policemen to reflect on the true meaning of Independence Day by continuing to serve the people, maintain peace and order and safeguard Filipinos’ rights.

Acorda remembered the sacrifices of policemen who died while in the line of duty.

“Sa mga kapulisan, sabay-sabay nating alalahanin at saluduhan ang ating mga kasamahan na nagbuwis ng buhay alang-alang sa serbisyo publiko,” he said.

Romualdez to Pinoys: Be a hero for the country and for others

AS the country commemorates its 125th Independence Day, Speaker Ferdinand Martin Romualdez on Monday called on all Filipinos to awaken the spirit of heroism, help free the country from poverty and overcome present challenges as a gesture of gratitude to the country’s heroes.

Romualdez issued the message after leading the wreath-laying ceremony at the Bonifacio Monument in Caloocan City as part of the rites to commemorate the country’s Independence Day.

“On this day, let’s awaken the heroism in each of us,” said the

House Speaker in Filipino.  He said the occasion calls for everyone to reflect and learn from the lessons left for us by our heroes, like Gat Andres Bonifacio, the Father of the Philippine Revolution.

Romualdez said the country still needs heroes, like Bonifacio, in the present generation although they may not need to take up arms and fight for liberty.

“As far as I’m concerned, the fight between Gat Andres and our other heroes is not over yet,” he added.

The fight for the country’s freedom, Romualdez explained, is not

Govt told to enforce mercury phaseout in dental amalgam

ATOXIC chemicals watchdog on Monday reiterated the call to enforce the phase out of mercury in dental restorative procedures.

BANToxics issued the call following the lapse of the deadline under the 3-year transitory period, which effectively bans the use of mercury in dental restorative procedures and its use in clinics and schools.

This follows an earlier ban on the import of liquid mercury for use in dental amalgam and its use in children 14 years old and below, pregnant women, and nursing mothers.

just against foreign invaders but also to free the people from the shackles of poverty and hunger.

“It is also a fight to end hunger. Fight to experience a comfortable life and fight to ensure a better future,” he added.

“Be a hero to uplift your family. Take action to be part of the solution. Be a hero for the country and for others,” he said.

Expressing thanks on behalf of the House of Representatives for the privilege to be part of the historic occasion, Romualdez also vowed to do his part in the effort to uplift the lives of Filipinos.

Jovee Marie N. Dela Cruz

House, DND pay tribute to Biazon

THE House of Representatives on Monday gave its final salute to “model citizen and brave soul” former senator Rodolfo “Pong” Biazon, who passed away on Monday, Independence Day.

Aside from being a former senator, Biazon was also a former House member and Armed Forces of the Philippines (AFP) chief of staff. He was 88.

“A brave soul has been summoned back to God’s army on a day that we Filipinos associate with bravery. That is a fitting tribute to Pong Biazon by the Almighty, telling us to emulate the great Filipino that he was,” Speaker Ferdinand Martin G. Romualdez said.

Mun tinlupa Mayor Ruffy Biazon said his father was diagnosed with lung cancer in July and underwent the appropriate treatment.

T his year, he said, however, his father caught pneumonia twice, the second being more serious than the first which had further weakened his lungs.

“It is with deep sadness tha t we announce that the bell has rung and the last Taps has been sung for General Rodolfo Gaspar Biazon, former AFP chief of staff, member of the Philippine Senate and House of Representatives,” he said.

“It is per fectly fitting that today, Independence Day, at around 8:30 a.m., the soldier who dedicated his life and laid it on the line in defending freedom and democracy, has been set free from the pains of this world,” Biazon added.

Moreover, Romualdez said, “We send our deepest condolences and prayers to the Biazon family, especially to his widow Monserrat, and son Ruffy, who is also a former House colleague. We salute Pong Biazon for his inspiring and selfless service to the nation.”

“Biaz on was a model citizen. He lost his father at seven years old and was forced to work to provide for himself and his siblings at such a young age. Poverty did not faze him; with sheer determination, he put himself through school to gain the education that

he needed to be somebody. In the end, he became somebody that would look up to,” said the Speaker.

A member of the Philippine Militar y Academy (PMA) Class of 1961, Biazon climbed the ranks of the AFP to become its 21st chief-of-staff three decades later.

H e was a decorated military man, collecting honors such as the Distinguished Service Star, Gold Cross Medal, Outstanding Achievement Medal, Bronze Cross Medal, Military Merit Medals with one spearhead device and four bronze anahaws, Military Commendation Medals, Long Service Medal, Anti-Dissidence Campaign Medal, Luzon Anti Dissidence Campaign Medal, Visayas Anti-Dissidence Campaign Medal, Mindanao Anti-Dissidence Campaign Medal, Jolo and Sulu Campaign Medal, Disaster Relief & Rehabilitation Operation Ribbon, Combat Commander’s Badge, and AFP Parachutist Badge.

Romualdez also hailed Biazon for his long body of work as a legislator. Biazon was a House member from 2010 to 2016; before that he served as a senator from 1992 to 1995; and from 1998 to 2010.

B iazon’s filed measures that became laws include Republic Act (RA) No. 9208, Anti-Trafficking in Persons Act; RA No. 9161, reforming the renting industry; RA No. 7835, Comprehensive and Integrated Shelter Finance Act; RA No. 7898, An Act providing for the Modernization of the Armed Forces of the Philippines; RA No. 7742, Changing the mandatory membership to the Pag-Ibig Fund; RA No. 7901, creation of the region of Caraga (Region XIII); RA No. 7889, establishing the University of the Philippines Mindanao; RA No. 7863, the Home Guaranty Corporation Law; and RA No. 7691, Expanding the Jurisdiction of MTC’s, MCTC and METC.

Also pursued b y Biazon were Joint Resolution No. 7, increasing the subsistence allowance of soldiers and policemen; RA No. 8763, amending the Home Guarantee

Corporation Act; RA No. 9040, Tax exemption of allowances and benefits for members of the A rmed Forces of the Philippines; RA No. 9049, Granting monthly gratuity and privileges to awarded of the Medal of Valor; and RA No. 10354, or the Reproductive Health Act. “SaludokamisayoGeneral. You’re one of a kind,” Romualdez said.

DND mourns Biazon’s passing THE Department of National Defense is mourning with the family and friends of former Armed Forces chief of staff General Rodolfo Biazon, who died on Monday as announced by his family.

The 88-year-old Biazon, also a former senator, died of pneumonia, according to his family.

“The Department of National Defense extends its deepest sympathies to the family and friends of former Chief of Staff Armed Forces of the Philippines and former Senator Rodolfo Biazon,” the DND said in statement released by its spokesman, Arsenio “Popong” Andolong.

Biazon, a Marine general, served as chief of staff of the AFP during the term of the late former president Corazon C. Aquino.

After his military service, he became a senator and a congressional district representative.

“Sen. Biazon’s illustrious career spanned his active service in the military as an officer in the Philippine Marine Corps, and later entering public service as a member of the House of Representatives and the Senate,” the DND said.

“Throughout his decades-long service to the Filipino nation, Sen. Biazon embodied patriotism, integrity, and commitment to the protection of the country’s freedom and its democratic institutions,” it added.

The DND said the former senator “leaves a legacy worthy of emulation by current and future generations of Filipinos.” Jovee Marie N. Dela Cruz and Rene Acosta

As we reach the three-year phase-out period of dental amalgam in connection with the implementation of the AO 2020-0020, we will continue to be vigilant—the use of dental amalgam for dental restorative procedures in dental clinics and schools should no longer be allowed, and the exclusion of dental amalgam and its capsules, as well as liquid mercury from the list of registrable medical devices in the Philippines, should be properly observed. We applaud the Philippine government for its continued efforts to protect the public from mercury. BAN Toxics’ monitoring reveals that dental amalgam use and availability have dropped significantly since, and we continue to urge distributors and practitioners to comply with the policy and transition to safer alternatives,” Jam Lorenzo from the organization’s Policy Development and Research Unit said in a statement.

Dental amalgam, commonly known as silver fillings, is used to repair decayed or broken teeth. It often contains silver, tin, small amounts of copper and zinc, and mercury. Mercury is cited by the World Health Organization as one of the top 10 chemicals of major concern due to its adverse impacts to human health and the environment. The chemical is known to negatively impact our nervous, digestive, and immune systems.

To recall, the Department of Health (DOH) issued AO No. 2020-0020, otherwise known as “Guidelines on the Phase out of Mercury Use in Dental Restorative Procedures” in 2020. The AO covers the phasing-out on the importation, distribution, manufacture, storage, transport, handling, use (including dental schools and research) and disposal of dental amalgams in the Philippines.

Likewise, the Food and Drug Administration (FDA) issued FDA Circular 2022-003, which aims to totally ban the manufacture, importation, exportation, distribution, sale, offer for sale, donation, transfer, and where applicable, the use, promotion, advertising, or sponsorship of mercury-added thermometers and sphygmomanometers along with dental amalgam capsules and liquid mercury for use in dental restorative purposes to protect human health from the adverse effects of mercury-added medical devices.

The Philippines ratified the Minamata Convention on Mercury, a legally binding global treaty that seeks to protect human health and the environment from manmade emissions of mercury and mercury compounds. Since then, the country has ramped up its management of mercury in dentistry.

“We aim to educate the public about the dangers of mercury. We will continue to fight for the protection of our consumers from harmful products such as dental amalgam, and we reiterate the importance of complying with our mercury policies in the country for a toxics-free future for our children,” said Lorenzo.

T he group is currently conducting a study to assess the effectiveness of the ban on dental amalgam in clinics and educational institutions, a project in partnership with the Environmental Management Bureau of the Department of Environment and Natural Resources with funding from the Ministry of Environment—Japan. Jonathan L. Mayuga

DENR chief pushes for integration of ‘waste pickers’ into EPR system

Masinloc fishers get ₧900K fund for ‘payao’ operations

By Henry Empeño

Oil firms increase fuel pump prices

LOCAL pump prices are on the rise this week by over P1 per liter.

This as members of the New Masinloc Fishermen’s Association (NMFA) signed here last Thursday an agreement with the SMC Global Power Holdings Corp Philippines Power Foundation (SMCGP), Inc. for the installation and maintenance of fish aggregating devices

in waters off Masinloc. Zambales Second District Rep. Doris Maniquiz, who helped broker the agreement, said the assistance will amount to P909,000, and will be given to the fishermen’s group upon completion of legal requirements.

Under the agreement, NMFA members will handle the installation of FADs, and assume full responsibility in the management, operation, maintenance and monitoring of the project, while SMCGP Foundation shall provide funding.

The Masinloc fishers lost their payao worth P150,000 when a ship carrying coal fuel for the Masinloc power plant ran over their device last January 17.

NMFA president Leonardo N. Cuaresma said they also incurred damages of P360,000 in unrealized income from payao harvest, and about P390,000 from hookand-line fishing by the 36 NMFA members.

With members grounded due to the lost payao, NMFA officials then sought help from local officials and thereafter received legal

support from the provincial government for damage claims, as well as P150,000 from Maniquiz last March so that the fishermen could immediately build another payao.

Maniquiz also brought the fishermen’s plight to the attention of SMCGP, owner and operator of the Masinloc Power Plant, and negotiated on their behalf for more assistance.

Atty. Cynthia V. Pantoñal, executive director of SMCGP Foundation, said that while the support was not connected to the loss of the payao caused by a third party, the SMCGP Foundation gave its help because it wanted to establish a partnership with local payao fishermen.

Engr. Roland Cabasal, manager of the Masinloc Power Plant, meanwhile, said his office is willing to help out fisherfolk families in terms of employment opportunities at the power facility.

Cuaresma said the funds from the San Miguel Foundation will help them maintain the four payao devices that members of his group had already installed in the sea off Masinloc.

Some of it will also be used for the completion of a smokehouse for the group’s tinapa-making project, as well as to buy a tricycle for transporting fish products and materials in the community, he added.

Maniquiz, meanwhile, advised the group to use the funds wisely and well. “You should be able to do a lot with this generous assistance, so that our kind donors would go on giving support,” she said.

“Always be thankful, grow your project, be successful and be an example to others,” she added.

Tolentino cites Mindanao’s key role to nation’s progress

By Butch Fernandez @butchfBM

SENATOR Francis N. Tolen -

tino affirmed over the weekend Mindanao region’s vital role in boosting the current and future economic progress of the country.

In his keynote address before the convention of the League of Municipalities of the Philippines (LMP)-Mindanao chapter in Davao City on Sunday, the senator stressed Mindanao’s “big role” in the economy. Some 500 local chief executives were in attendance in the 3-day gathering.

“Ang Mindanao ay may napaka -

laking papel sa paglago ng ating ekonomiya at mahalagang bahagi ng pag-unlad sa iba’t ibang sektor tulad ng agrikultura, pangingisda, imprastraktura at turismo, ” Tolentino said.

Citing latest figures from the Philippine Statistics Authority (PSA), Tolentino noted that Mindanao’s overall Gross Regional Domestic Product (GRDP) soared to 7.2 percent in 2022—with Davao region leading the charge (8.15 percent), followed by the Caraga region (5.9 percent).

The Bangsamoro Autonomous Region in Muslim Mindanao ( BARMM ) was also given a special mention by Tolentino

as the former conflict-torn region was able to register a 6.6 percent growth on its gross domestic product (GDP) last year.

Tolentino, a former president of the League of Cities of the Philippines (LCP), also lauded and gave credit to all the Mindanao local chief executives “for making the latest feat possible due to their overwhelming commitment in promoting stability and harmony as well as maintaining peace and order in the southern part of the country.”

During the 18th Congress, Tolentino sponsored major legislations—as former chair of the Senate Committees on

Oil firms said Monday that they will increase gasoline prices by P1.20 per liter, diesel by P1.40 per liter, and kerosene by P1.30 per liter.

The price adjustment takes effect Tuesday ay 6 a.m.

This was announced by Seaoil, PTT, Phoenix, Petron, Shell, Caltex, Unioil, and Total.

Cleanfuel, for its part, said it will separately implement its price hike at 4:01p.m.

Oil firms adjust their pump prices every week to reflect movements in the world oil market.

Last week, oil companies implemented a per liter decrease of P0.60 for gasoline and kerosene, while diesel has decreased by P0.30 per liter. These price adjustments resulted in a year-to-date net decrease for diesel at P5.35/liter and kerosene at P7.35/liter. Gasoline, on the other hand, has a net increase of P5.50/liter.

Director Rodela Romero of the Department of Energy-Oil Industry Management Bureau (DOE-OIMB), said the deep cuts on OPEC’s production output as well as a similar announcement from Saudi Arabia largely contributed to this.

“The OPEC meeting happened last June 4 in which the members agreed on production cuts. Also, Saudi Arabia declared a separate production cut. That’s when the markets reacted,” Rodela said.

Saudi Arabia said it would cut output in July by 1 million barrels per day (bpd) to 9 million bpd.

OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, agreed to extend cuts into 2024. OPEC+ pumps around 40 percent of the world’s crude.

“We have no control on prices because we are a net importer of crude and finished products. We only have one refinery. We are just a price taker,” added Rodela. Lenie Lectura

How does corruption hurt us?

Integrity for Jobs project has created integrity circles which will see to it that infrastructure projects are benefiting less spectacular sectors like schools, hospital and farm-to-market road also. Corruption also hinders the development of fair market structures and distorts competition.

In this context we are happy to see that the Philippine Competition Commission is doing its best in achieving their mandate in creating fair market conditions that will provide Juan de la Cruz with better products and services at better prices.

By Henry J. Schumacher

FOR years the Integrity Ini -

Local Government and on Urban Planning, Housing, Development—that were later enacted into laws in helping boost the current economic status of Mindanao region. These include the creation of the Metropolitan Davao Development Authority (MDDA) under Republic Act (RA) 11708 and RA 11696 or the Marawi Siege Victims Compensation Act of 2022.

The lawmaker reminded that Mindanao has a wealth of natural resources, endowed with lush forests, metallic deposits of lead, zinc, ore, copper, magnetite and gold, and is also the country’s food basket.

30 companies take part in Marikina City jobs fair

By Claudeth Mocon-Ciriaco @claudethmc3

OVER 30 companies par -

ticipated in the Independence Day job fair spearheaded by the Marikina City government, SM Shopping Malls, and the Department of Labor and Employment (DOLE).

“Today as we celebrate the Philippines’ 125th Independence Day, we are simultaneously holding this job fair for everybody so we could be liberated from poverty through jobs,” Marikina City Mayor Marcelino Teodoro said during the opening of the job fair at SM

City Marikina on Monday. SM Marikina Manager Francis Brian Cruz, and DOLE Supervising Labor and Employment Officer, Engr. Roberto Chavez Jr., were also present during the event.

The local chief executive thanked the management of SM Marikina and the labor department for being Marikina’s partners in its commitment of providing employment opportunities to its citizens.

Some of the companies that took part in the job fair were Business Process Outsourcing firms or BPOs, banks, hotels, transportation companies, food chains,

supermarket chains, clothing companies, telecommunications companies, shoe manufacturers, and many more.

For his part, Cruz thanked the Marikina City government and its Public Employment and Services Office (PESO), headed by Gil Munar, for gathering a diverse group of companies and organizations that are offering various job vacancies across different industries.

“As we all know, Covid-19 pandemic has greatly affected our economy and the livelihoods of many Filipinos, but through this job fair, we hope to provide a glim -

mer of hope for jobseekers and help them find meaningful employment opportunities,” he said.

Cruz said that SM, PESO, and the local government of Marikina share the belief that jobs are not just a source of income, but also a means to build a better future one’s self, one’s family, and the community.

“We hope that this job fair will be a step towards a brighter future for all of us,” Cruz said. A DOLE official said that they are targeting to accommodate over 2,300 jobseekers that are mostly fresh graduates and working students.

tiative has tried to create Integrity Nation, a nation where transparency and integrity rule, and where corruption is no longer part of everybody’s life. Have we succeeded? Not yet. One day we claim: Corruption is Dead! And then we realize: Long live Corruption!

Given the fact that business allegedly does not like corruption, but unfortunately—at the same time—is not willing to financially support anti-corruption, it may be useful to highlight once again how corruption hurts and convince society at large or better—every individual—to fight corruption and make a choice to only deal with companies that evidently are involved in anti-corruption and have been verified or even certified that they adhere to transparency in business and implemented anti-bribery and anti-corruption policies.

Let’s be very clear that corruption impacts all of us in many ways.

The pain, corruption creates can be divided into four categories: political, economic, social and environmental. Politically, corruption is a major obstacle to democracy and the rule of law. In a democratic system, offices and institutions should lose their legitimacy when they are misusing their influence for personal advantage. As we see on a daily basis, it is extremely challenging to develop accountable behavior in a corrupt environment.

Economically, corruption depletes national wealth (that belongs to the people). Corrupt officials invest scarce public resources in projects that will line their pockets rather than benefit communities. In 60 LGUs, the

Socially, corruption is exploitive. Inequality breeds corruption by: n Leading ordinary citizens to see a system as stacked against them; creating a sense of dependency among ordinary citizens and a sense of pessimism for the future, which in turn undermines the moral dictates of treating everybody honestly; and n Distorting the key institutions of fairness in society, the courts, which ordinary citizens see as their protectors against evildoers, especially those with more influence than they have.

Corruption aggravates inequality: the well-off can afford bribes, but the poor often do without basic services. Inequality, trust and corruption form a vicious circle that is very difficult to break.

There is one institutional factor that has a big impact on corruption: the fairness of the legal system. This is an institutional measure of inequality: whether courts and the police treat people of different backgrounds and incomes as equals before the law. This is the reason why the Integrity Initiative is supporting the Judicial Reform Initiative started by FINEX.

Let me conclude by saying, that working against corruption is everybody’s mandate. As we at the Integrity Initiative say: Integrity starts with I. Every person must make the decision: I am part of the solution! I will contribute to positive change! Because, if I don’t do it, I am part of the problem!!

If you agree with this, you must join the Integrity Initiative. Contact me at Schumacher@eitsc.com and I will provide you the details for joining.

SMCGP Foundation executive director Cynthia V. Pantoñal, NMFA president Leonardo N. Cuaresma, and Rep. Bing Maniquiz sign an agreement for a P.9-million payao fishing project in Masinloc, Zambales. HENRY EMPEÑO

BOTOLAN, Zambales—Yet another windfall will benefit fishermen from Masinloc, Zambales who lost their livelihood early this year when a cargo ship destroyed their fish aggregating device (FAD) or “payao.”

BFAR provides P4.95 million worth of equipment to Pag-asa fisherfolk

The fishing gear and post-harvest equipment for beneficiaries will be transported by BRP Francisco Dagohoy (MMOV 5002) from Puerto Princesa City to Pag-asa Island.

A multi-mission offshore civilian patrol vessel operated by the BFAR, BRP Francisco Dagohoy will embark on a two-day journey to Pag-asa Island starting Monday, June 12, coinciding with the 125th commemoration of Philippine Independence.

This voyage, which aims to provide livelihood support to the residents and fisherfolk of Pag-asa

By Butch Fernandez @butchfBM

IT was sweet irony that a man who stood for peace and democracy died as the nation marked its 125th Independence Day. This was how the death of former Senator Rodolfo “Pong” Biazon—the coup-busting general who became Armed Forces of the Philippines (AFP) chief of staff and was later elected senator—was described by his peers after his death was announced Monday morning by his family.

This is a bittersweet Independence Day, as the nation mourns the passing of Senator Rodolfo Biazon, one of our staunchest defenders of the peace and democracy that we are enjoying today,” said Senate President Juan Miguel Zubiri in a statement.

Biazon succumbed a day after his son Muntinlupa Mayor Ruffy Biazon tweeted that he was still alive and battling pneumonia, in response to some social media posts claiming he was already dead.

A ccording to Ruffy Biazon, the former senator “was diagnosed with lung cancer in July of 2022 and underwent chemotherapy.” Last month up until his death, the elder Biazon was confined at the Asian Hospital for severe pneumonia that further weakened his lungs.

He courageously fought his last battle like a Marine would, but it is the Lord’s will which prevails. The family is grateful that we were able to spend his last moments with us intimately and peacefully,” Ruffy Biazon said.

Zubiri said, “It was a gift to have been a novice senator during a time when Senator Biazon was still in office. I had the great fortune of learning from him, and being inspired by his uncompromising public service—not just as a veteran legislator but also as a veteran military man, having been the chief-of-staff of the Armed Forces. He brought that same military discipline and commitment to his work in the Senate, and to every aspect of his life as a public servant.

I am grateful for the time that we spent in the Senate together, and I am glad we had one last chance to reconnect with him last November when he attended the Senate reunion. He was as bright and astute as ever, and a fountain of guidance and wisdom for those of us currently in the Senate. My prayers and condolences go out to his family, friends and to the people whom he served with dedication as a senator, congressman, and as a member of the uniformed service.”

S en. Grace Poe for her part said, “His valuable work in fortifying the military institution and in lawmaking will not be forgotten.”

D eputy Minority Leader Risa Hontiveros said Biazon’s passing “on this Independence Day [is] a reminder of his formidable, lifelong fight for our Inang Bayan.”

S ince his days as a Philippine Marine commandant to his years in Congress, “what remained true all throughout was his unwavering love

for the Philippines,” Hontiveros said.

Long before I met him in person, I read about Sen. Pong in an 1981 Who magazine feature about his being a Marine commander in Davao. I remember being taken by his critical mind and his respect for human rights, qualities essential for an officer and a gentleman.”

Hontiveros said Biazon “always answered the call of duty even when he was no longer in office. When the former administration could not express a clear stance vis-a-vis China’s incursions in the West Philippine Sea, Sen. Pong did not hold back from calling on our top officials to take a united position against China.”

S en. Chiz Escudero lauded the decorated military general for serving the Philippines “impeccably” all throughout his more than five decades in government service.

For his part, Sen. Jinggoy Estrada said: “We witnessed first hand his unparalleled passion for public service and unwavering advocacy for low-cost housing and increased benefits for our soldiers. His wisdom, experience, and exemplary work ethic were always evident, making him an invaluable asset to our institution and a true inspiration to us all.”

S en. Nancy Binay said: “As a soldier and a lawmaker, he staunchly defended democracy and made sure that our country’s sovereignty is always protected. Our nation lost an officer and a true gentleman who dedicated his life to public service.”

S en. Robin Padilla issued a statement, saying Biazon’s “principles, both as a soldier and as a lawmaker, will be one legacy we will never forget. His place in our history is secure, and what he has left behind— which was briefly considered to be made into a movie where I would have played a role—will always be an inspiration to me.”

Engineering, then PMA

THE elder Biazon was born on April 14, 1935 in Batac, Ilocos Norte and took up mechanical engineering at FEATI University before deciding to enter the Philippine Military Academy (PMA) in 1957.

A ccording to his Senate biography, Biazon served in these posts: Superintendent of PMA in 1986-87, Commandant of the Philippine Marines in 1987-89, Commanding General of the NCR Defense Command in 1988-90, AFP Vice Chief of Staff in 1990-91 and AFP Chief of Staff in 1991.

B iazon quelled several coup attempts by the Reform the Armed Forces Movement (RAM) against the administration of President Corazon C. Aquino. However, per a tweet by his son Ruffy, coup leader-turned-senator Gregorio “Gringo” Honasan had a long, warm “warriors’ reunion” late last year when the latter visited him.

Biazon was first elected to the Senate in 1992 and was reelected in 1998. In 2010, he ran and won as congressman of the lone district of Muntinlupa and was reelected in 2013. He retired from politics in 2016.

Island, is one of our initiatives in accordance with the order of President Ferdinand Marcos Jr. to strengthen our support to the fisheries sector, as well as in farflung communities,” Escoto said in a statement.

The BFAR official also expressed optimism that through the initiative, Filipino fisherfolk would be further equipped with tools and skills to increase their catch in the resource-rich waters.

Moreover, Escoto also recognized the members of the Philippine Coast Guard and other partner agencies who

have been supporting the bureau’s livelihood initiatives for the fisherfolk in the West Philippine Sea.

We salute courageous public servants who have been working with the DA-BFAR. Through this collaboration, we are able to provide government aid to our fisherfolk in far-flung areas,” he added.

A board BRP Francisco Dagohoy are various fishing gears that include fish stalls, fish containers, plastic floaters, twines, lead sinker, and deep-sea payao, which will all be awarded to Palawan fisherfolk.

A lso included are post-harvest

equipment such as blast freezer, ice coolers, industrial weighing scales, crate storages, seawater flake ice machine, and a generator set. BFAR said, “Beneficiaries will come from the Kalayaan Palawan Farmers and Fisherfolk Association, as well as the Spratlys Strong and Brave Women Association.” M eanwhile, Escoto said the bureau is eyeing to provide additional livelihood inputs to Filipino fisherfolk in the West Philippine Sea and in adjacent areas to boost their production.

Raadee S. Sausa

DAR, PCA to develop coconut processing hub in N. Cotabato

THE Department of Agrarian Reform (DAR) and the Philippine Coconut Authority (PCA) are eyeing to develop a coconut-processing hub in North Cotabato to support the industry’s growth in the region. I n a statement, DAR Assistant Regional Director H. Roldan Ali, Al-Haj, said the department is now looking for potential agrarian reform beneficiaries’ organizations (ARBOs) that would be developed for the proposed coconut value

Villafuerte reminds ‘Ted’ on unsettled pandemic pay for HCWs, non-HCWs

A SENIOR lawmaker is hoping that newly-appointed Department of Health (DOH) Secretary Teodoro “Ted” Herbosa will make good on his promise on his first day in office to look into the speedy release of the unpaid health emergency allowances of health-care workers (HCWs) and non-HCWs who had played a critical role in saving lives during the Covid-19 pandemic.

Camarines Sur Rep. LRay Villafuerte said Herbosa should find out at the soonest what could be done about the P12.57 billion worth of health emergency allowances that the medical frontliners have yet to receive but which the Department of Budget and Management (DBM) claimed had been released already to the DOH.

We hope that newly-appointed Secretary Ted [Herbosa], who is a long-timer in the health-care sector, would deliver on his promise to give priority to looking into the still-unpaid Covid-19 allowances— and get to the bottom of what happened to the P12.5 billion in Covid-19 allowances that the DBM claimed to have released to the DOH months back but which have yet to be handed out by the health department to the intended beneficiary—HCWs and nonHCWs—as provided by law,” Villafuerte said.

“We want to know soon enough from the new Secretary when the DOH is going to release the balance of about P12.57 billion from the P19.96 billion in Covid-19 benefits and allowances of HCWs and non-HCWs for their medical services rendered to our people at the height of the pandemic that the DBM claimed to have released already to the health department,” he added.

Given the new DOH chief’s impressive record in the health sector, including stints as Special Adviser to the National Task Force Against Covid-19 and trauma division chief at the surgery department of the Philippine General Hospital (PGH), “I assume Dr. Herbosa, as a medical frontliner himself, will agree with me that it doesn’t make sense that for all their life-saving efforts at the height of the pandemic, our HCWs and non-HCWs in hospitals and other health institutions have yet to receive the emergency allowances due them up this time when the WHO [World Health Organization] had already declared this global public health emergency as over,” said Villafuerte.

Aside from HCWs, the extra benefits also cover frontliners who are non-healthcare workers (non-HCWs), including those rendering medical, allied medical, administrative, technical, and support services in hospitals, health facilities, laboratories, medical or temporary treatment and monitoring facilities, and vaccination sites.

Jovee Marie N. Dela Cruz

chain support project.

“ The DAR aims to improve the processing and products of the ARBOs so that they would have a steady or even expanded bigger market,” he said.

E vangeline Bueno, Provincial Agrarian Reform Program Officer II, explained that potential ARBOs will be assessed for further interventions to strengthen their operations and to establish tie-ups with private sector players to expand their markets.

A v alidation team, composed of DAR regional and provincial officials, has recently paid a visit to Bagong Pag-asa Credit Cooperative (BPCC), a DAR-assisted organization engaged in virgin coconut oil (VCO) production at New Panay, Pigcawayan.

S eminiana Bawik, project manager of BPCC, said she is thankful to the DAR for considering them as a potential recipient of the proposed coconut value chainboosting project.

“ We are very grateful to the department for their continued assistance in improving our livelihood projects,” she said. The BPCC is a recipient of various support services from DAR. One of the projects they received is the VCO processing machine and equipment under the Climate Resilient Farm Productivity Support Project, which is now in the process of registration with the Food and Drug Administration.

Jonathan L. Mayuga

THE Bureau of Fisheries and Aquatic Resources (BFAR) has provided equipment and capacity-building programs worth P4.95 million to fisherfolk groups in Pag-asa Island, BFAR National Director Demosthenes Escoto revealed on Monday.

Senators hail patriotism of ex-AFP chief-of-staff and Sen. ‘Pong’ Biazon

The World

Ukraine claims recapture of 4th village in eastern Donetsk as counteroffensive operations roll on

By Jamey Keaten The Associated Press

Deputy Defense Minister Hanna Maliar wrote on Telegram that Ukraine’s flag was again flying over the village of Storozhov, and she predicted the liberation of “all Ukrainian land” would be the final outcome. A day earlier, Ukrainian officials said three other small villages clustered together south of the town of Velika Novosilke in the eastern Donetsk region had been liberated.

The villages are located in the so-called “Vremivka ledge,” a section of the front line where the Russian-controlled area protrudes into territory held by Ukraine. The area has become one of several epicenters of intense fighting.

The Russian Defense Ministry hasn’t confirmed the Russian retreat from the villages, but some military bloggers have acknowl -

edged the loss of Russian control over them.

Russian authorities, meanwhile, have said their troops have largely held their ground along the more than 1,000-kilometer (600mile) arc of front line along southern and eastern Ukraine.

Western analysts and military officials have cautioned any effort to rid entrenched, powerfully armed and skilled Russian troops will likely take months, and the success of any Ukrainian counteroffensive is far from certain.

On Saturday, Ukrainian President Volodymyr Zelenskyy said “counteroffensive, defensive actions are taking place” without specifying it was an all-out counteroffensive, a day after Russian President Vladimir Putin asserted that the coun -

teroffensive had started—and Ukrainian forces were taking “significant losses.” He did not elaborate, and Ukrainian authorities have not publicly specified losses among their troops.

The reported Ukrainian advance comes as authorities on both sides of the active front line along the Dnieper River in the southern Kherson region pressed on with rescue and relocation efforts for civilians driven from their homes by flooding from the breach of the Kakhovka dam last week.

The UN and other aid groups say access to fresh drinking water is a crucial need and the possible spread of water-borne disease a big worry.

On Sunday, a local official said three people were killed when Mos -

cow’s troops opened fire at a boat evacuating people from Russianoccupied areas.

Late Sunday, Zelenskyy said envoys from the International Criminal Court have visited the region to investigate the disaster, which has driven thousands from their homes, and left at least 14 people dead.

“It is very important that the representatives of international justice have seen the consequences of this Russian act of terrorism with their own eyes and heard for themselves that Russian terror continues,” Zelenskyy said. Ukrainian authorities have accused Russian forces, which controlled the area around the dam, of deliberately destroying it. Russian officials have blamed Ukrainian shelling for its destruction.

From GPS-guided bombs to electronic warfare, Russia improves its weaponry in Ukraine war

UKRAINIAN troops are probing Russian defenses as spring gives way to a second summer of fighting, and Kyiv’s forces are facing an enemy that has made mistakes and suffered setbacks in the 15-month-old war. But analysts say Moscow also has learned from those blunders and improved its weapons and skills.

Russia has built heavily fortified defenses along the 1,000-kilometer (600-mile) front line, honed its electronic weapons to reduce Ukraine’s edge in combat drones, and turned heavy bombs from its massive Cold-Warera arsenal into precision-guided gliding munitions capable of striking targets without putting its warplanes at risk.

The changing Russian tactics along with increased troop numbers and improved weaponry could make it challenging for Ukraine to score any kind of quick decisive victory, threatening to turn it into a long battle of attrition.

US Joint Chiefs chairman Gen. Mark Milley said in an interview with The Associated Press on Tuesday that while Ukraine’s military is well prepared, as time goes on, “this will be a back-and-forth fight for a considerable length of time.”

Most attention last week focused on catastrophic flooding in southern Ukraine caused by the destruction of the Kakhovka dam that both sides blame on each other.

At the same time, however, Ukrainian troops have unleashed a series of attacks in several parts of the front that so far have made only marginal gains against multilayered Russian defenses.

Ukrainian President Volodymyr Zelenskyy said Saturday that counteroffensive and defensive actions are underway against Russian forces, asserting that his commanders are in a “positive” mindset about its success. Ukrainian authorities have stopped short of announcing the start of a full-blown counteroffensive.

A day earlier, Russian President Vladimir Putin said that it had begun, but that Ukraine failed to make any headway and suffered “significant” losses.

Sir Richard Barrons, a retired general who led the UK Joint Forces Command, said the Russian military has built “textbook” defensive lines and adjusted its tactics following its hasty retreat from wide swaths of the Kharkiv and Kherson regions last fall under the brunt of a swift Ukrainian

campaign.

He pointed at the improved Russian ability to both counter and use drones and also noted that Moscow has learned to keep key assets like command headquarters and ammunition dumps out of artillery range.

“And they have sharpened up how they can fire at Ukrainian artillery and tanks when they spot them,” he told AP. “So if you add all that together, everybody knows this will be a harder fight than for Kherson or Kharkiv in the autumn of last year.

“People are still using those two successes, and they were successes, as benchmarks, which I think is unfair, unreasonable in the circumstances,” he said.

Russia has fielded more troops to protect the long front line, even though many of them could be poorly trained, he said.

At the start of the war, Russian military convoys stretched for miles to become easy prey for Ukrainian artillery and drones during a failed attempt to capture Kyiv, in what was seen as a major blunder.

Ukrainian missiles then sank the Russian cruiser Moskva, the flagship of its Black Sea Fleet, in a major blow to Moscow’s pride; Kyiv’s rockets pummeled Russian ammunition depots and command headquarters; and Kremlin forces hastily pulled back from large areas in the east and the south in the fall.

Despite those setbacks, Russia dug in to defend broad parts of Ukrainian territory it captured early in the invasion. Last month, it claimed control of the eastern city of Bakhmut after the war’s longest and bloodiest battle.

Fundamental Russian weaknesses remain.

Russian troops continue to suffer from low morale, there are shortages of ammunition, and coordination between units has remained poor. Vicious infighting has erupted between the military brass and the Wagner private military contractor, which has fielded tens of thousands of mercenaries to the battlefield to spearhead the battle for Bakhmut.

A major factor still limiting Russia’s capability has been its decision to keep its air force from forging deep into Ukraine after it suffered heavy losses in the war’s initial stages. Its attempts to knock out Ukraine’s air defenses have failed. Thanks to supplies of Western weaponry, Ukraine now poses an even more formidable

challenge to Russian aircraft.

Barrons emphasized it’s essential for military leaders in Kyiv to continue keeping its adversary’s warplanes at bay so that “the counteroffensive isn’t the moment the Russian air force suddenly finds its capability and courage and romps ... all over Ukraine.”

Ukrainian military analyst Oleh Zhdanov notes that Moscow has maintained a numerical advantage in troops and weapons, despite any weaknesses.

While Russia has increasingly tapped its Cold-War arsenals, deploying tanks dating to the 1950s to replenish its massive, early losses, such old weapons can still perform well, Zhdanov said.

“It doesn’t matter what tanks they have; they have thousands of them,” Zhdanov told AP, noting Russia put many of them to use as stationary weapons in their defensive lines, including in the Zaporizhzhia region where they proved effective.

He acknowledged Russian success in hitting Ukrainian military depots, relying on Moscow’s agents and collaborators, but said such losses were “tolerable.” He also said the Russians increasingly use drones and improved electronic warfare to jam those from Ukraine.

Russia has stopped using battalionsized tactical groups it deployed early in the war and shifted to smaller units, Zhdanov said.

While the Russian air force has operated in relatively small numbers, it has modernized its stock of bombs to turn them into gliding weapons that have proven efficient, he said. The 500-kilogram (1,100-pound) bombs adapted with a GPS module can inflict massive damage.

“The Soviet Union produced those bombs in uncountable numbers,” Zhdanov said, adding that the Russians drop up to 50 a day for a “major psychological effect.”

One such bomb accidentally released over the Russian city of Belgorod near the border with Ukraine in April blasted a huge crater and slightly injured one person.

Russian military bloggers hailed the punch of the gliding bombs and their ability to hit targets up to 70 kilometers (over 43 miles) away. One former military pilot said in his blog that work is under way to convert 1,500-kilogram (3,300-pound) bombs into gliding munitions. These conversions allow the Russian air

force to ramp up strikes on Ukrainian forces without risking its warplanes.

The Royal United Service Institute, a London-based think-tank that focuses on defense and security issues, listed these gliding bombs along with other improvements in Russian weapons and tactics.

“Although they only have limited accuracy, the size of these munitions poses a serious threat,” RUSI said in a recent report, adding Russia was working to improve their accuracy.

Russian engineers have shown prowess in building field fortifications and complex obstacles along the front line, including concrete-reinforced trenches and command bunkers, wire-entanglements, ditches, anti-tank hedgehogs or “dragon’s teeth” and complex minefields, the report said.

Extensive placement of sophisticated mines for use against tanks and infantry poses “a major tactical challenge to Ukrainian offensive operations,” the RUSI authors said.

Other Russian improvements noted in the report include better thermal camouflage for tanks; nimbler deployment of artillery into multiple positions, including integration with drones to avoid losses; and attacking Ukrainian artillery with loitering munitions—drones that hover until they acquire a target.

Such responsive Russian fire represents “the greatest challenge to Ukrainian offensive operations,” the RUSI report said.

Improved Russian electronic warfare systems have destroyed about 10,000 Ukrainian drones a month, while they also have been able to intercept and decrypt Ukrainian tactical communications in real time, it added.

They also have learned to intercept GPSguided rockets fired by Western-supplied launchers like the US-made HIMARS, which embarrassed the Russians and inflicted major damage, the report said.

Russia’s military “is able to improve and evolve its employment of key systems,” RUSI said, but noted it could struggle to respond to similar quick adjustments by Kyiv that could make Moscow’s units “likely to rapidly lose their coordination.”

The Associated Press writers Danica Kirka in London, Tara Copp in Normandy, France, and Yuras Karmanau in Tallinn, Estonia, contributed.

KYIV, Ukraine—Ukrainian military officials said Monday their troops have retaken another southeastern village from Russian forces, among the first— small—successes in stepped-up counteroffensive operations against Moscow’s more than 15-month invasion of Ukraine.

EMERGENCY teams help rush to safety injured civilian evacuees who came under fire from Russian forces while trying to flee by boat from the Russianoccupied east bank of a flooded Dnieper River to Ukrainian-held Kherson, on the western bank in Kherson, Ukraine on Sunday, June 11, 2023. AP

The World

Fed to keep rates high thanks to inflation fueled by corporate greed, investors say

By Simon White

SOARING corporate profits are a big part of the inflation problem, and keeping interest rates high is the best way to rein them in, according to Bloomberg’s latest poll of professional and retail investors.

Some 90percent of 288 respondents in a Markets Live Pulse survey said companies on both sides of the Atlantic have been raising prices in excess of their own costs since the pandemic began in 2020. Almost four out of five said that tight monetary policy is the right way to tackle profit-led inflation.

One of the worst bouts of inflation in decades has spurred a search for explanations—with broken supply chains, big-spending governments and rising wages all shouldering some of the blame. But the surge in corporate markups is another potential cause that deserves attention, and is now getting it.

Margins soared in the initial pandemic years, and have defied convention by remaining historically high since then. That raises two key questions: Are fatter profits helping to entrench inflation, and if so, what should be done about it? It’s part of a wider debate about whether different kinds of price pressures need different tools to address them, instead of the one-size-fits-all response of higher interest rates.

MLIV Pulse survey participants largely took the view that monetary tightening by central banks is the appropriate response to profit-driven price rises. About onequarter disagreed, offering alternative solutions including the use of corporate tax rates against price gougers, and tougher anti-monopoly rules.

The retail sector has seen the most opportunistic pricing during the pandemic, some 67percent of respondents said. The energy industry came a distant second, with about one-sixth of votes. Those findings may reflect the fact that people buy basic consumption goods more often than bigger-ticket items, so they’re likelier to notice when the prices jump—an idea known as “collision frequency.’’

The unique circumstances of the pandemic—severe supply constraints, followed by an unprecedented burst of stimulus-fueled demand—lie behind the widening of profit margins, which hit 70-year highs in the US.

That’s unlikely to prove permanent, according to most survey respondents, who expect margins in the aggregate will recede to where they were before Covid—although the majority was only a slim one, at 53percent.

Standard economic theory holds that profit margins are “mean-reverting’’—in other words, they tend to be pulled back to normal levels. It’s supposed to work like this: An industry with high profits should attract new entrants, with increased competition forcing margins lower.

But reality has rudely refused to conform. Margins were already elevated before the pandemic, and they’re now even more so.

Various theories have sought to

explain why this happened. Isabella Weber, an economist at the University of Massachusetts Amherst, argues that much of the US’s recent inflation is “sellers’ inflation,’’ stemming from the ability of dominant firms to exploit their monopolistic position in order to raise prices. Weber notes that “bottlenecks can create temporary monopoly power which can render it safe to hike prices not only to protect but to increase profits.’’

Paul Donovan, chief global economist at UBS AG, refers to this as “profit-led inflation’’—companies using the cover of broad-based price increases to raise their own prices more than they have to -- and more colloquially the idea has become known as “greedflation.’’

However it’s labeled, if firms have been taking advantage of monopolies to raise their margins, they will be loath to lower them by much. Who wants to award themselves a pay cut right after getting a raise?

Margins are beginning to fall from their highs as firms rebalance the price-versus-volume trade-off, but they remain significantly higher than in the pre-Covid years.

This could well continue to favor some equities. When asked what type of stock stands to benefit the most from profit-led inflation, almost threequarters of respondents opted for firms with strong pricing power. The logic there is that until a rising backlash against monopolies or oligopolies gets properly underway, it makes sense to own the companies that can exploit the inflationary backdrop the most.

Ultimately “greedflation’’ is not likely to lead to prolonged sticky inflation, according to a majority of survey respondents.

Only 10percent said it will take more than five years for the headline rate of US consumer-price inflation to return to a stable average around 2percent. More than half reckon inflation will return to 2percent levels within two years—in line with the market view, based on the current two-year breakeven rate of about 2.1percent.

So what can be done specifically to stem profit-led inflation? The 24percent of survey respondents who don’t believe tighter monetary policy is the answer came up with some thoughtful alternatives.

Among the frequent suggestions were better enforcement of antitrust laws around mergers, along with other efforts to stimulate more competition. There was support for higher corporate taxes, potentially including windfall charges in areas where price gouging is identified. “Tax them to oblivion’’ was one blunt recommendation.

Inflation breeds resentment by exacerbating inequality. Once pandemic savings are depleted that resentment has the potential to mushroom, and firms’ profit honeymoon will likely face a much more challenging and regulated future. In that case, tighter monetary policy could be the least of their worries. With assistance from Sungwoo Park/Bloomberg

Oil traders are daring to defy market kingpin Saudi Arabia

By Alex Longley

A week ago, Saudi Arabian Energy Minister Prince Abdulaziz bin Salman pledged to unilaterally cut the country’s July oil production to the lowest in over a decade, excluding Covid-19 era curtailments. He described the move as a “lollipop.”

While there’ve been bigger output cuts in recent months, its symbolism was important, and Prince Abdulaziz left open the possibility of extending the curb. It also came on the back of a litany of comments that suggest the prince wants to hurt those who speculate on lower prices.

Yet, traders are becoming less responsive. The immediate price gain from the curbs he announced on last Sunday lasted a day. By Friday at 5 p.m. in London, Brent futures were around $76 a barrel— almost exactly where they were a week earlier. A previous output cut in April took less than a month to wear off on prices.

Speaking on Sunday, the prince said the Opec+ agreement was about being proactive and precautionary. “I think the physical market is telling us something and the futures market is telling us something else,” he said at the Arab, China Business Conference in Riyadh. “To understand Opec+ today, it’s all about being proactive, preemptive and precautionary.”

Despite expectations that oil demand will outstrip supply in the coming months, several things are fueling the bears’ confidence. Two negatives really stand out: the first is that Russian shipments have boomed in the face of expectations that western sanctions would curtail them. The second is concern about the fate of China’s economy, for years the bedrock of demand growth.

“There are many uncertainties, as usual, when it comes to the oil markets, and if I have to pick the most important one it’s China,” Fatih Birol, executive director at the International Energy Agency,

said in a Bloomberg TV interview. “If the Chinese economy weakens, or grows much lower than many international economic institutions believe, of course this can lead to bearish sentiment.” Goldman Sachs Group Inc. made its third downward price revision for the global benchmark in six months, trimming its Brent forecast for December to $86 a barrel, versus its previous estimate of $95 a barrel, on rising supplies and waning demand.

China’s Purchasing Manufacturing Index fell to 48.8 last month, a level that undershot expectations and was also the weakest reading since December, when the country was mired in Covid Zero restrictions.

Even if its economy does accelerate anew, China will have a lot of crude to use up. The country’s stockpiles rose to a two-year high in May and several traders said they see recent Saudi oil price hikes to Asia, alongside continued Opec+ production cuts, as part of an effort to drain that inventory.

Global picture

THAT is compounding a less rosy—but far from outright bearish—picture of global demand.

Since January, the IEA— whose supply and demand balances serve as a benchmark for the world’s oil analysts—has shaved its anticipated demand increase from second to fourth quarters by 900,000 barrels a day. It still expects it to expand by a robust 1.8 million barrels a day, though some are dubious of whether it can be achieved.

Beyond China, there is a global concern about industrial production, a close proxy for diesel demand. Manufacturing has been in contraction worldwide for each of the last nine months, according to JPMorgan data, while a gauge of US trucking is at the weakest since September 2021. Last week, the US

Honduras opens embassy in China after breaking off ties with Taiwan

BEIJING—Honduras opened an embassy in Beijing on Sunday, Chinese state media reported, months after the Central American nation broke off relations with Taiwan to establish diplomatic ties with China.

China’s Foreign Minister Qin Gang and his Honduran counterpart Enrique Reina took part in the inauguration of the embassy on Sunday morning, China’s official CCTV said. The report said Honduras still needed to determine the embassy’s permanent location and would increase its number of staff.

Qin pledged that China would establish a new model with Honduras of “friendly cooperation” between countries with different sizes and systems, according to a statement from China’s Foreign Ministry.

The symbol of the two sides’ strengthening diplomatic ties came during Honduran President Xiomara Castro’s six-day visit to China.

Honduras established formal

relations with China in March, becoming the latest in a string of countries to break diplomatic ties with Taiwan. China sees selfgoverned Taiwan as a breakaway province, to be retaken by force if necessary, and prohibits its own diplomatic partners from having formal ties with Taipei.

The island also faces increasing military threats from Beijing.

Its defense ministry on Sunday reported that 10 Chinese warplanes crossed the median line of the Taiwan Strait, an unofficial boundary once tacitly accepted by both sides. In response, Taiwan deployed aircraft, naval vessels, and land-based missile systems.

Castro arrived in Shanghai on Friday on her first visit since

the establishment of relations. During her stay in Shanghai, she visited the headquarters of the New Development Bank, a bank established by the BRICS nations, which includes Brazil, Russia, India, China and South Africa. Honduras requested admission to the bank, Castro’s office tweeted Saturday.

The president also visited a research center for technology giant Huawei before arriving in Beijing on Saturday night, China’s official Global Times newspaper reported.

The ties formed in March were a diplomatic victory for China amid heightened tensions between Beijing and the United States, including China’s increasing assertiveness toward Taiwan. It also signaled China’s growing influence in Latin America.

China and Taiwan have been locked in a battle for diplomatic recognition since they split amid civil war in 1949, with Beijing spending billions to win recognition for its “one China” policy. AP

cut its outlook for consumption of the road fuel.

Those dynamics are, perhaps, part of why the cuts by Saudi Arabia and its Opec+ allies are having less of an impact.

“The producer group is in a multiple bind: demand is looking weaker and non-Opec supply stronger by year-end than many analysts had forecast,” Citigroup Inc. analysts including Francesco Martoccia wrote. “Both Opec and IEA forecasts have had an air of wishful thinking about accelerating demand growth.”

Sea flows

STUBBORNLY high oil flows are not helping.

While they have slipped in the past few months, observed seaborne oil shipments are still up sharply compared with where they were in May 2022, a month when Chinese buying was being undermined by the country’s efforts to contain Covid.

Tracking by Bloomberg shows shipments from the bulk of the world’s exporters were up 1.13 million barrels a day year on year. Russia’s cargoes, in particular, are soaring. The nation’s crude exports were within 100,000 barrels a day of a record in the four weeks to June 4, according to data compiled by Bloomberg.

That has led to torpor in the face of supply cuts. Likewise, markets for physical barrels are—for now at least—showing little sign of major tightness, though there’s still a month before Saudi Arabia’s cut takes effect. US crude oil was last week sold in Europe at the weakest in a month. Prior cuts by some members of Opec+ began in May.

Risky position

DESPITE all that, it’s far from a risk-free bet for the bears. With the kingdom effectively backstopping any decline in prices, some investors remain hopeful of meaningful market tightening in the second half of the year.

China’s Unipec bought oil from the US and Norway last week, a possible sign that Opec+’s moves will boost buying of cargoes in other markets and tighten them up. Indonesia’s PT Pertamina also plowed into the market, snapping up millions of barrels of West African oil.

Booming oil refining capacity in China and the Middle East looks set to come up against a “structural dearth of crude in the coming years,” Saad Rahim, chief economist of trading giant Trafigura Group, said in the company’s interim report.

The supply cuts by Opec+, coupled with emerging market demand growth, should lead to “material draws in inventories later this year,” he said, adding that US shale may not be able to balance the market.

But even if the market does turn, it may take time to filter through, as traders continue to wrestle with the slew of economic concerns and robust supplies that have hobbled prices for months now.

“No one wants to take risk in flat price given the macro uncertainty,” said Richard Jones, an analyst at consultant Energy Aspects. “Ultimately they are waiting to see physical markets tighten as the cuts take effect.” With assistance from Grant Smith, Yongchang Chin and Andrew Janes/Bloomberg

Pakistan welcomes first shipment of discounted crude from Russia

By Munir Ahmed The Associated Press

ISLAMABAD—The Pakistani government on Monday welcomed the arrival of the first shipment of discounted crude from Russia under a key deal between Islamabad and Moscow.

Prime Minister Shahbaz Sharif hailed it as a “fulfillment of promises” to the nation while Information Minister Marriyum Aurangzeb tweeted that it marked a “true service” for the people.

The cargo was being unloaded in the port city of Karachi, the country’s main hub for imports.

Cash-strapped Pakistan had been in talks with Russia to import discounted crude since February 2022, when former Pakistani Prime Minister Imran Khan visited Moscow to meet with President Vladimir Putin. Khan’s visit coincided with the start of Russia’s invasion of Ukraine—a visit that at the time strained relations between Pakistan and the United States.

Moscow has since grappled with Western sanctions over the war, rerouting much of its supply to India, China and other Asian countries at discounted prices after Western customers shunned it in response to the invasion.

Pakistan’s deputy oil minister, Musadiq Malik, told the Geo news TV that Islamabad had initially signed an agreement with Russia for the purchase of 100,000 tons of oil, which is supposed to arrive in two ships. The first vessel with the crude arrived in Karachi on Sunday. The size of its cargo load was not immediately known.

He did not share any details about the price of Russian oil, saying only that Pakistan will try to ensure a steady import with the expectations that prices at the pump will decrease.

“If we start getting one-third of our crude oil from Russia, then there will be a big difference in prices and its effect will reach people’s pockets,” Malik said.

OIL traders are starting to ignore the most important person in the market. It could prove a risky gambit.

SAUDI Arabia Energy Minister Prince Abdulaziz bin Salman. BLOOMBERG

IN this photo released by Xinhua News Agency, China’s Foreign Minister Qin Gang, left, and his Honduran counterpart Enrique Reina unveil the Honduras Embassy plate during the inauguration of the embassy in Beijing on Sunday, June 11, 2023. Honduras opened an embassy in Beijing on Sunday, Chinese state media reported, months after the Central American nation broke off relations with Taiwan to form diplomatic ties with China. LI TAO/XINHUA VIA AP

editorial

Averting a looming water crisis in PHL

WAter is life, and access to safe water is a basic human need. In 2020, only 74 percent of the global population had access to safe drinking water. As a result, 2 billion people were without safely managed drinking water services, including 1.2 billion people lacking even a basic level of service, according to the United Nations.

Decades of misuse, poor management, over extraction of groundwater and contamination of freshwater supplies have exacerbated the world’s water stress. The UN said countries are facing growing challenges linked to degraded water-related ecosystems, water scarcity caused by climate change, underinvestment in water and sanitation, and insufficient cooperation on transboundary waters—or the aquifers, lake and river basins shared by two or more countries.

To reach universal access to drinking water, sanitation and hygiene by 2030, the current rates of progress would need to increase fourfold. The UN’s Sustainable Development Goal 6 seeks to ensure access to water and sanitation for all. The UN 2023 Water Conference in New York in March culminated with a breakthrough response to the global water crisis, with governments, businesses and civil society committing billions of dollars to advance the water agenda.

“The commitments at this conference will propel humanity towards the watersecure future every person on the planet needs,” said UN Secretary-General António Guterres at the closing ceremony.

In the Philippines, President Marcos is pushing for a whole-of-government approach to avert a looming water crisis in the country. In April, he signed an executive order creating the Water Resources Management Office (WRMO) under the Department of Environment and Natural Resources (DENR) to integrate and harmonize government efforts to ensure the sustainable management of the country’s water resources.

Under Executive Order 22, the WRMO is mandated to “ensure the immediate implementation of the Integrated Water Resources Management in line with the United Nations Sustainable Development Goals, and formulate a corresponding Water Resources Master Plan.”

“To avert water crisis, minimize and avoid conflicts, and consistent with the State’s sole ownership and control over the country’s water resources, it is imperative for the government to integrate and harmonize the policies, programs, and projects of all relevant agencies in the water resource sector in the fulfillment of their complementary governmental mandates,” the EO read.

Last month, the Philippine Atmospheric, Geophysical and Astronomical Services Administration said El Niño is set to start in the third quarter of the year and might persist until the first quarter of 2024. This prompted Malacañang to require all national government agencies and instrumentalities (NGI) to reduce their water consumption by 10 percent ahead of the El Niño threat. (Read, “Palace orders national government agencies to implement water conservation measures ahead of El Niño,” in the BusinessMirror, June 9, 2023).

Executive Secretary Lucas P. Bersamin issued the guidelines for the implementation of water conservation measures for NGIs under Memorandum Circular 22. “All national government agencies and instrumentalities, including government-owned and controlled corporations and state universities and colleges, are hereby directed to identify and implement specific, quantifiable and attainable water conservation measures that will result to 10 percent water volume reduction of their respective water consumption,” Bersamin said.

He also encouraged government and private-controlled water service providers (WSP) to implement conservation measures such as, but not limited to, non-revenue water management and water pressure management.

MC 22 also instructed the Local Water Utilities Administration, National Water Resources Board, and the Metropolitan Waterworks and Sewerage System and private WSPs to regularly submit a monthly supply-demand projection highlighting the likelihood of possible water supply deficit. The WRMO was tasked to implement MC 22.

“The WRMO shall identify strategies towards water conservation, monitor compliance of government agencies and instrumentalities with aforementioned water conservation measures, and provide quarterly updates to the Office of the President, through the Office of the Executive Secretary, on the progress thereof,” Bersamin said.  Sen. Grace Poe, who chairs the Senate Public Services committee, welcomed the creation of a water management office. “This is a timely intervention from the Executive, which will hopefully alleviate the creeping water crisis in the country,” she said. Currently, there are at least 30 government agencies that are tasked with the administration of the country’s water resources, which has resulted in policy and regulatory conflicts among these agencies.

It would do well for both Houses of Congress to approve the bills seeking to establish the Department of Water Resources, which will harmonize the country’s fragmented water policies and programs. We need a government agency whose sole purpose is to oversee and effectively manage the country’s water resources.

Holistic approach to inflation

Filipino consumer.

The low inflation report last week is a piece of good news and a clear sign that we are winning the battle against high prices.

THE EnTrEprEnEur

tHe inflation rate to a certain degree is predictable. Prices as measured by the consumer price index readily go up in times of a supply shock, as in the case of a turbulent global oil price market. they also spike seasonally—or when prices of commodities such as rice and vegetables increase on lean harvests because of adverse climate like typhoons that destroy crops and disrupt the supply chain.

The Russian invasion of Ukraine over a year ago immediately sent world oil and wheat prices surging as the two warring nations are major suppliers of the two commodities. This geopolitical conflict caused the global inflation rate to rise, prompting the United States and other major economies to raise their interest rates in their attempt to curb spending.

The Philippines also suffers high inflation on an intermittent basis because of animal diseases that curtail poultry and meat production. With a fast-growing population, it will be difficult for the Philippines to play catch-up with the demand, especially on low agricultural and livestock output.

Government intervention measures, however, can address the high inflation rate and provide temporar-

ily relief to a supply shortfall and the nuances of domestic trading. President Ferdinand Marcos Jr. and his Cabinet are taking a holistic approach in combatting a high inflation rate that could derail the nation’s economic goals.

President Marcos on May 26, 2023 signed Executive Order 28 creating the Inter-Agency Committee on Inflation and Market Outlook. Beyond monitoring price movements, the committee plans to enhance government coordination in managing inflation and mitigating the impact of rising commodity prices. Of course, it is too early to say that the committee’s work has paid dividends. But I am confident that it is the right direction to take in fighting high prices that erode the purchasing power of the ordinary

The inflation rate in May, per the report of the Philippine Statistics Authority, dropped further to a near one-year low of 6.1 percent from 6.6 percent in April on slower increases in the prices of transport, food and non-alcoholic beverages. The May inflation was the slowest since the 6.1 percent registered in June 2022, although still higher than the rate of 5.4 percent a year ago.

President Marcos was pleased with the declining inflation rate, calling it a welcome development and a sign of continued progress towards affordable prices of goods.

The annual decline in the index of transport led the drop in the headline inflation at -0.5 percent from 2.6 percent in the previous month. The heavily weighted food and nonalcoholic beverages, per the PSA report, also pulled down the overall inflation during the month with a lower inflation rate of 7.4 percent from 7.9 percent in April. The annual rate increase of alcoholic beverages and tobacco index, meanwhile, slowed down to 12.3 percent during the month.

We will likely see a further drop in the inflation rate in the coming months once the inter-agency committee I mentioned earlier begins its

Hey PSE! What’s your problem?

John Mangun

OuTSIDE THE BOX

BAck in the day, I was invited to have lunch with the President of the Philippine Stock exchange (PSe). He had held the position for two years and “confessed” to me that he was only now beginning to understand what the stock market was all about.

I replied that he should not feel bad. I told him that there were people that had been on the PSE for two decades that still didn’t know how and why a stock exchange functions successfully. Not much has changed since then.

The dismal price performance and trading volume of the Philippine Stock Exchange (PSE) is because of a global liquidity freeze to which the PSE is contributing. The “experts” attribute this on any given day to the policies and actions of—in alphabetical order—Philippine President Marcos, Federal Reserve Chair Jerome Powell, and Russian leader Vladimir Putin. That might be true in some respects but is actually unim-

portant. It is what it is for whatever reason. But it is across all markets and not just for equities.

Global Bitcoin trading volume peaked in mid-November 2022. The 30-day moving average of daily volume has been consistently lower in 2023 than any time since January 2022.

Total global and New York Stock Exchange volume peaked in 2015 and has since then been in a downtrend. While the Dow Jones Industrial Average is trying for a historic high, it is basically unchanged since January 10, 2023.

The current liquidity freeze both here and abroad is transitory and will end. However, the PSE has some

systemic issues that have never been properly addressed. Government has never been functionally supportive of the local stock market except when a sitting president would ring the opening bell when the PSE index was performing well.

One suggestion is that the trading volume problem could be solved with more companies going public.

The SET—Stock Exchange of Thailand—lists 822 companies. Bursa Malaysia (BM) trades 983 on two exchanges. The PSE has 286 listed issues. I am in favor of all Filipino companies going public as I have been called in to consult on IPOs. More money for me.

On the SET, the number of stock market trading accounts increased almost 10 times from 2008 to 2022, with the current total at 5.85 million.

The PSE reports, “The total stock market accounts registered in 2022 was at 1,712,734.”

But this idea of more companies is like Jollibee building a Jollibee next to an existing Jollibee assuming that will double the number of customers. Maybe the reason the SET and BM have three times as many listed companies is because they have three times as many investors, not the other way around.

systematic job. The group, among other things, aims to put a coordinated and proactive monitoring system in place to keep food and energy prices within the target range.

The government, in my opinion, can once and for all neutralize inflation through an integrated approach by involving concerned government agencies in monitoring the primary drivers of inflation. The committee, per the statement of National Economic and Development Authority Secretary Arsenio Balisacan, will keep tabs on current trends and data on local and international prices and the level of domestic production, import arrivals, climate outlook and other relevant supply and demand information for key commodities.

The looming El Niño also poses a challenge to state planners. The Philippines may see lower production of rice and some crops once the prolonged dry spell kicks in. I am sure the inter-agency committee is keeping an eye on El Niño because of its inflationary impact.

Again, I am confident the Philippines will overcome El Niño and other inflationary factors through a comprehensive approach that requires the participation of local government units and concerned government agencies.

For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar.com.ph

Further, the PSE started trading a Real Estate Investment Trust (REIT) in 2020. The BM traded its first REIT in 2006 while the SET started in 2015. And short selling? Regulated short sales were introduced in Bursa Malaysia on September 30, 1996 and SET in 2001.

Also important, the BM has an exchange to trade “Futures and Options Exchange comprising commodity, financial and equity derivative products.” Thailand Futures Exchange (TFEX), a subsidiary of the SET, was established in 2004 as a derivatives exchange.

On the PSE, client trading is limited to “Buy a stock and pray the price goes up and does not go down. Amen.”

All markets want a bigger piece of the 25 to 45 aged investor. BM did a one-day “Bursa Marketplace Virtual Fair 2022” and had 8,000 attendees. But they also sponsor “Digital Literacy for Seniors Program.” Why is that last demographic important? At the PSE, those aged 60 and above account for only 10.8 percent of accounts and owned a miserable 5 percent of online accounts. “Digital Literacy” means learning to trade online.

Manny B. Villar

By Lolita C. Baldor | The Associated Press

Last week, she raised her right hand and took the oath to join the US Army Reserves, thanks in part to a recruiter in Dallas who also is Nepalese and reached out to her through an online group.

Bidari, who heads to basic training in August, is just the latest in a growing number of legal migrants enlisting in the US military as it more aggressively seeks out immigrants, offering a fast track to citizenship to those who sign up.

Struggling to overcome recruiting shortfalls, the Army and the Air Force have bolstered their marketing to entice legal residents to enlist, putting out pamphlets, working social media and broadening their outreach, particularly in inner cities. One key element is the use of recruiters with similar backgrounds to these potential recruits.

“It is one thing to hear about the military from locals here, but it is something else when it’s from your fellow brother, from the country you’re from,” said Bidari, who was contacted by Army Staff Sgt. Kalden Lama, the Dallas recruiter, on a Facebook group that helps Nepalese people in America connect with one another. “That brother was in the group and he was recruiting and he told me about the military.”

The military has had success in recruiting legal immigrants, particularly among those seeking a job, education benefits and training as well as a quick route to becoming an American citizen. But they also require additional security screening and more help filling out forms, particularly those who are less proficient in English.

Both the Army and the Air Force say they will not meet their recruiting goals this year, and the Navy also expects to fall short. Pulling more from the legal immigrant population may not provide large numbers, but any small boosts will help. The Marine Corps is the only service on pace to meet its goal.

The shortfalls have led to a wide range of new recruiting programs, ad campaigns and other incentives to help the services compete with often higher-paying, less risky jobs in the private sector. Defense leaders say young people are less familiar with the military, are drawn more to corporate jobs that provide similar education and other benefits, and want to avoid the risk of injury and death that service in defense of the United States could bring. In addition, they say that little more than 20 percent meet the physical, mental and character requirements to join.

“We have large populations of legal US residents who are exceptionally patriotic, they’re exceptionally grateful for the opportunities that this country has provided,” said Air Force Maj. Gen. Ed Thomas, head of the service’s recruiting command.

The biggest challenges have been identifying geographic pockets of immigrant populations, finding ways to reach them and helping any of those interested navigate the complex military recruiting applications and procedures.

Last October, the Army reestablished a program for legal permanent residents to apply for accelerated naturalization once they get to basic training. Recruiters began to reach out on social media, using short videos in various languages to target the top 10 countries that recruits had come from during the previous year.

The Air Force effort began this year, and the first group of 14 graduated from basic training and were sworn in as new citizens in April. They included recruits from Cameroon, Jamaica, Kenya, the Philippines, Russia and South Africa. As of mid-May there were about 100 in basic training who had begun the citizenship process and about 40 who had completed it.

Thomas said the program required changes to Air Force policy, coordination with US Citizenship and Immigration Services and a careful screening process to ensure there are no security risks.

“We have to take exceptional measures to be able to thoroughly vet and go through the security clearance investigation,” he said, adding that in many cases the immigrants are not immediately put in jobs that require top secret clearance.

Under the new program, recruits are quickly enrolled in the citizenship system and when they start basic training, an expedited process kicks off, including all required paperwork and testing. By the time Air Force recruits finish their seven weeks of training, the process is complete and they are sworn in as American citizens.

The first group of 14 included several who are seeking various medical jobs, while another wants to be an air transportation specialist. Thomas said Airman 1st Class Natalia Laziuk, 31, emigrated from Russia nine years ago, has dreamed of being a US citizen since she was 11, and learned about the military by watching American movies and television.

“Talking to this young airman, she essentially said, ‘I just wanted to be useful to my country,’” he said. “And that’s a story that we see played over and over and over again. I’ve talked to a number of these folks around the country. They’re hungry to serve.”

For Bidari, who arrived in the US in 2016 to attend college, the fast track to citizenship was important because it will make it easier for her to travel and bring her parents to the United States to visit. Speaking in a call from Chicago just a day after she was sworn in, she said she enlisted for six years and hopes that her future citizenship will help her become an officer.

In Chicago earlier this year, Army Secretary Christine Wormuth heard from a number of recruiters about the increased outreach to immigrant communities and how it helped them meet their numbers. In the 2022 budget year, they said, the Chicago recruiting battalion enlisted 70 legal permanent residents and already this year they have enlisted 62.

women, the wealthier, and older men and women with money are not in the stock market.

Extending the life of the Estate Tax Amnesty Law

atty. rodel C. unciano

Tax Law for Business

THE availment of the estate tax amnesty as extended by Republic Act 11567 is set to expire tomorrow, June 14, 2023. While there is a pending proposal to extend the period of availment of this program up to June 14, 2025, the proposed bill is yet to be signed into law as of this writing. If not extended tomorrow, the estate tax amnesty law under RA 11213, as amended by RA 11567, will be a dead law.

To date, many inherited real properties remain to be in the name of older generations because of the huge amount of estate taxes and increments that should be paid prior to transferring the title of the property from the decedent to the heirs. Probably, this is also partly because of the tedious process of transferring the title from the decedent’s name to the heirs.

To recall, in 2019, RA 11213 or the Tax Amnesty Act of 2019, as amended by RA 11567, attempted to remedy this concern by granting estate tax amnesty through the payment of an estate tax at a rate of 6 percent of the decedent’s total net taxable estate. According to the records of the Department of Finance,

the national government was able to collect P7.41 billion from 133,860 beneficiaries who availed themselves of the estate tax amnesty. However, many were unable to avail of this program probably because of lack of awareness of the law coupled with the devastation brought by the Covid-19 pandemic.

The good thing is, though the estate tax amnesty law will soon become a dead law, the proposed amendments will hopefully bring this program back to life, at least for another two years.

Under the proposed amendments, the estate tax amnesty shall be expanded to cover the estate of decedents who died on or before May 31, 2022. On the other hand,

the period of availment shall be extended up to June 14, 2025. The amendments also provide for electronic filing of estate tax amnesty applications and streamlines the documentary requirements for filing. The bill also allows payment of outstanding liabilities in two-year installments without civil penalty or interest.

One important provision that needs to be revisited though is the one-time imposition of the 6 percent tax amnesty rate, irrespective of the fact that the property involved had passed on from one decedent to another. To recall, under the enrolled bill submitted to then President Duterte in 2019, the 6 percent tax amnesty rate would be imposed only once, and that is based on the total net estate at the time of death of the last decedent, and that will already cover all taxes arising from the transfer of such estate from all prior decedents or donors through which the property or properties comprising the estate shall pass.

That provision was, however, vetoed by then President Duterte. Thus, Revenue Regulations (RR) 6-2019, which implemented the estate tax amnesty provisions of RA 11213 made it clear that the estate tax amnesty rate of 6 percent shall be imposed on each decedent’s total net taxable estate at the time of death at every stage of transfer of property in

cognizance with the rules on succession under the Civil Code.

To my mind, one-time application of the 6% tax amnesty rate is already reasonable. To many heirs, perhaps, another reason for the nonavailment of the tax amnesty program is the imposition of the 6 percent rate to every stage of transfer of the property from one decedent to another. One-time imposition of the 6% amnesty rate will have to be reconsidered as this will certainly increase the taxpayer’s availment on this program.

And, perhaps, once the amendment is passed into law, the BIR can probably launch a more aggressive tax campaign to promote taxpayer’s awareness on the program. While the law may be in place, many covered taxpayers, however, lack awareness on the same. The BIR can increase its tax campaign efforts in order to boost its tax collections from this area.

The author is a partner of Du-Baladad and Associates Law Offices (BDB Law), a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at rodel.unciano@ bdblaw.com.ph or call 8403-2001 local 140.

Esoteric fines pile up as China’s provinces hunt for revenue

By Bloomberg News

A Shanghai restaurateur was fined 5,000 yuan ($702) this month for serving shredded cucumber without a licence, prompting outrage on China’s Twitter-like Weibo. In a post viewed 9.5 million times, one user wrote: “If they wanna fine you, even adding vinegar could be wrong.”

Truckers in central Henan province last month made headlines when they questioned the accuracy of government vehicle weighing machines, after being repeatedly fined for exceeding limits: one driver had received tickets totaling $38,000 in the past two years.

In Guangxi, one of China’s most indebted provinces, a state-backed company sparked anger in May for hiking parking fees, leading some commuters to rack up thousands of yuan in charges. After Weibo users questioned their legitimacy, the Nanning city mayor bowed and apolo-

gized at a press conference.

These high-profile scandals represent a broader trend of local governments using fines to bolster their coffers. A State Council inspection last year found that in the wake of the pandemic and other economic difficulties, local government penalties had become stricter and more severe, according to an article in state media.

Guangxi alone made 13 billion yuan from fines last year, according to an analysis of government data by Caijing Industry Research Center—equivalent to about 14 percent of its tax income, rising from 9 percent in 2021.

“It is a sign of desperation,” said Victor Shih, an associate professor at the University of California, San Diego, who specializes in China’s banking policies. “Arbitrary fines and predatory behavior will drive businesses away, especially small

and medium businesses without the political protection of large stateowned enterprises,” he added.

China’s local governments have suffered the dual blows of the pandemic and a property crackdown from Beijing in recent years, leaving them with too little income to spend on salaries and building roads, while at the same time paying their debt bills. Goldman Sachs Group Inc. estimates China’s total government debt is about $23 trillion, a figure that includes the hidden borrowing of thousands of financing companies set up by provinces and cities.

The central government reiterated this month that provinces have to fix hidden debt problems on their own, leaving local officials to get more creative to raise revenue for their day-to-day spending. Last year, a grocer in Shaanxi province was fined 66,000 yuan for selling 2.5 kilograms (5.5 pounds) of substandard celery, while in August, officials in Guangdong were found to have falsified evidence to fine trucks for suspected illegal dumping.

As such cases spark outrage on social media, government scrutiny

Food prices are squeezing Europe. Now Italians are calling for a pasta protest

By Colleen Barry | AP Business Writer

MILAN—When it comes to skyrocketing pasta prices, Italians are crying: Basta!

They have had enough after the cost of the staple of every Italian table soared by twice the rate of inflation. One consumer advocate group is calling for a weeklong national pasta strike starting June 22 after the Rome government held a crisis meeting last month and decided not to intervene on prices.

used to make pasta.

Stores and suppliers have been accused of profit-padding “greedflation,” but economists say retail profits have been stable and the problem comes down to the higher cost to produce food.

Feeling the pressure, some governments in Europe have capped prices on staples or pushed for agreements with grocery stores to bring down costs, something that’s popular with the public but can actually make food prices worse.

of levies has ramped up. Following the Guangxi street-parking uproar last month, city authorities in Jiangsu, Inner Mongolia, Zhejiang, and Shandong also started cracking down on expensive parking fees. In February, then-Premier Li Keqiang called on provinces to “resolutely put an end to arbitrary fees” and fines at a cabinet meeting.

The levies are unlikely to make a meaningful difference to the shortfall in local finances. Still, excessive fines will probably remain a feature as provinces are left to shoulder their own problems, said Zerlina Zeng, senior credit analyst at CreditSights Singapore LLC.

“As fines and other regulatory burdens kill off the SMEs, local governments would further lose tax income, become even more reliant on fines, and dependent on transfers from central and other upper-tier governments,” Zeng said.

She added: “This could be detrimental to the local business environment and result in a vicious cycle in weak regions.” With assistance from Fran Wang, Yujing Liu, Yihui Xie and Colum Murphy / Bloomberg

PSE investors with an annual income of less than P500,000 account for 54 percent of all retail accounts and 73 percent of online accounts.

Investors with annual income above

P1 million comprised a sad 14 percent of online investors. Online investing is not the future; it is the “now.” But on the PSE, the older men and

I fully intend to do a seminar titled “PSE trading for the RETIRED but not tired.” The fee will be showing your Senior Citizen card. But you can bring a younger “bantay.”

me

“The macaroni strike is to see if keeping pasta on the shelves will bring down the prices, in the great Anglo-Saxon tradition of boycotting goods,” said Furio Truzzi, president of the group, Assoutenti. “The price of pasta is absolutely out of proportion with production costs.”

Grocery prices have risen more sharply in Europe than in other advanced economies—from the US to Japan—driven by higher energy and labor costs and the impact of Russia’s war in Ukraine. That is even though costs for food commodities have fallen for months from record highs, including wheat for the flour

Shoppers like Noée Borey, a 26-year-old picking up groceries at a chain store in Paris, said she is all for setting ceilings for some food to help low-income workers and students. She buys less meat and opts for less expensive grocery stores.

“Inevitably, all the products I buy have gone up by 20 percent, whether it’s butter or berries,” Borey said. “I’m not buying cherries anymore because they cost 15 euros a kilo” (about $8 a pound).

The French government reached a three-month agreement with supermarket chains for them to cut prices on hundreds of staples and

other foods, which is expected to be extended through the summer.

Britain—where food inflation has reached 45-year highs—is discussing a similar move.

Countries like Hungary, with the highest food inflation in the European Union, and Croatia have mandated price controls for items like cooking oil, some pork cuts, wheat flour and milk.

The Italian government says it will strengthen price monitoring by working more closely with the country’s 20 regions but won’t impose such limits.

Spain has avoided price controls but abolished all value-added tax on essential products and halved tax on cooking oil and pasta to 5 percent.

The measures come as food banks are seeing soaring demand in some countries.

“Things are not getting better, they are getting worse for people,” said Helen Barnard of the Trussell Trust, a charity that operates more than half of the food banks in the United Kingdom.

Spending much more to buy essentials like milk, pasta and fresh

vegetables to “top up” donations received from supermarkets is a struggle for Anna Sjovorr-Packham, who runs several community food pantries serving discounted groceries to some 250 families in south London.

“While the demand from families hasn’t gone up hugely, the cost has, and that’s been really difficult to support,” she said.

Prices for food and non-alcoholic drinks have actually fallen in Europe, from 17.5 percent in the 20-country euro area in March to a still-painful 15 percent in April. It comes as energy prices—key to growing and transporting what we eat—have dropped from record highs last year. But economists say it will be many months before prices in stores settle back down.

In comparison, US food prices rose 7.7 percent in April from a year earlier, 8.2 percent in Japan and 9.1 percent in Canada. They hit 19 percent in the UK. AP reporters Sacha Bianchi and

WASHINGTON—When Esmita Spudes Bidari was a young girl in Nepal, she dreamed of being in the military, but that wasn’t a real option in her country.

CHINA S indebted local governments are increasingly imposing controversial fines on residents in a bid to generate revenue, stoking anger among social media users.

Join the military, become a US citizen: Uncle Sam wants you and vous and tu

Angela Charlton in Paris; Sylvia Hui in London; Rebecca Preciutti in Rome; Justin Spike in Budapest, Hungary; and Jennifer O’Mahony in Madrid contributed.

A10 Tuesday, June 13, 2023

Ex-SBMA chair Eisma gets leadership award again

By Henry Empeño Correspondent

OLONGAPO CITY— Former Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma received yet another recognition for leadership after being cited two months ago for steering the Subic Bay Freeport out of the Covid-19 pandemic.

PHL seen to import in ’23 record-high 3.9MMT rice

By Raadee S. Sausa

The higher forecast,” international market watchers USDA-FAS said, owes “mainly” to the “higherthan-anticipated imports of Vietnam rice.”

Meanwhile, the country’s imports forecast for 2024 is higher at 3.8 million MT than the 3.6 million MT.

E arlier, the Bureau of Plant Industry (BPI) data showed that the Philippines’s rice imports breached the million-metric-ton (MT) mark

as of early May.

T he country’s rice imports as of May 4 hit 1.3 million MT, down by 12.7 percent from 1.5 million MT recorded by the agency as of May of 2022.

I n the first week of May this year alone, rice imports amounted to 34,050 MT, a decline of 89.2 percent from  316,604.35 MT a year ago.

V ietnam, the Philippines’ leading source of rice imports, supplied

1.2 million MT or almost 90 percent of the total. Myanmar came second with 70,165 MT.

T he Philippines also purchased rice from Thailand, Pakistan, India, China and Japan.

T he most favored nation (MFN) tariff rate for rice remains at 35 percent for both in-quota and outquota imports until end-December this year.

B eginning January 2024, the MFN for rice will revert to 40 percent for in-quota and 50 percent for out-quota.

In 2022, the country’s rice importation has reached 3.7 million MT, almost 1 million MT higher compared to the 2.77 million imported in the same period last year, BPI said.

T hailand exported 183,230 MT of rice to the Philippines last year while India shipped 10,094 MT, based on BPI data.

More Pinoy Millennials, Gen Zs take on side gigs

B oth Pakistan and India benefited from the lowering to 35 percent of the MFN tariff rates on rice imports.

I n December last year, President Ferdinand Marcos Jr. signed Executive Order (EO) 10 extending the validity of reduced tariff rates on various agricultural products to maintain affordable prices,  ensure food security and help augment the supply of food items, among others.

T he Department of Agriculture said the local rice supply would remain stable amid growing concerns over rice shortage and price increases because of the El Niño phenomenon.

I n April, the DA said the ending stock of palay stood at about 5.66 million MT in the first quarter of 2023, which is good for 51 days of consumption.

DELOITTE’S 2023 Gen Z and Millennial survey reveals two generational cohorts that may be juggling too many things at the same time and are struggling as a result.

S eventy-one percent of Filipino millennials (compared to 37 percent of global millennials) and 65 percent of Filipino Gen Zs (compared to 46 percent of global Gen Zs) have taken on either a part- or full-time paying job on top of their primary job—an increase from last year’s 61 percent and 64 percent, respectively. When asked why they decided to take on a side gig, 66 percent of millennials and 56 percent of Gen Zs said they need a secondary source of income, while about 40 percent of both generational groups believe their side job helps them develop important skills and relationships.

E isma, now a director of the Development Bank of the Philippines (DBP), received the Sustainability Leadership Award from the Mumbai, India-based World CSR Day during its 12th Philippines Leadership Congress and Awards 2023 at Dusit Thani Hotel in Manila last Wednesday, June 7.

T he lawyer, who joined the DBP after leaving the SBMA service in March last year, received her latest honor for excellence in governance and sustainability leadership.

T his was the third time that Eisma was cited by the World CSR Day group for leadership excellence. In 2019, she received the “CSR Leadership Award” and the “Woman Leadership Award” during CSR Day’s World Women Leadership Congress in Manila while she was still SBMA chief.

E isma’s latest recognition came on the heels of her silver award for “Thought Leader of the Year” in this year’s edition of the Asia-Pacific Stevie Awards, the only awards program that recognizes innovation in business throughout the entire AsiaPacific region.

S he received the silver Stevie for the proactive measures she instituted as SBMA CEO and for crafting “a roadmap to survival” before and at the height of the Covid-19 pandemic, thus saving jobs and investments in the Subic Bay Freeport Zone.

E isma’s survival roadmap for Subic was a series of innovations that included business teleconferencing; disinfection protocols and mass testing; emergency isolation facilities; online bidding for products and services; virtual job fairs; online medical consultation; and a “bubble” concept for sports tournaments, seminars and workshops, and other events to boost local business operations.

I n 2018, a year after becoming SBMA’s first female CEO, Eisma also won a silver Stevie as “Female Executive of the Year for Government or Non-profit” under the individual women awards category.

CA

junks

By Joel R. San Juan @jrsanjuan1573

THE Court of Appeals has affirmed the dismissal of the P30-million damage suit filed by a businesswoman against Ayala-owned real estate developer, Alveo Land Corporation, as well as one of the country’s top construction companies  and a gas supplier in connection with the 2013 explosion at Two Serendra residential condominium in Taguig  which left  four persons dead.

I n a 12-page ruling, the Court of Appeals’ Fifteenth Division  dismissed the petition filed by Marianne Cayton seeking the reversal of the September 14, 2017 decision of the Regional Trial Court  (RTC) of Taguig City Branch

271.  Presiding Judge Paz Esperanza Cortes  had dismissed the civil suit due to the failure of Cayton and her counsel to appear at the pretrial of the case and their failure to file a pretrial brief under the Rules of Court.

C ayton, in her motion for reconsideration, argued that Judge Cortes committed grave abuse of discretion in dismissing the complaint for failure to appear at the pretrial and to file pretrial brief.

₧30-M suit over Serendra blast

T he petitioner claimed that she and her counsel did not receive a formal order to appear before the court other  than a text message from the court staff that the case was set for pretrial on September 14, 2017.

S he added that her counsel had a valid ground to be excused at the pretrial due to a conflict of schedule in a case that the latter was handling in Tarlac City.

C ayton said the postponement of the proceedings was also sought to give time for the court to rule on her motion to consolidate.

C ayton insisted that she should have not been faulted for failing to attend the pretrial and submit her pretrial brief due to lack of official communication from the court.

I n denying Cayton’s appeal, the CA noted that Sections 4 and 5, Rule 18 of the Rules of Court clearly provides that “it is obligatory upon parties to appear at the pretrial conference.”

“If the absent party is the plaintiff, then he or she may be declared non-suited and his or her case will be dismissed,” the CA said.

However, the CA admitted that in some instances, the non-appearance of a party may be excused, subject  to the sound discretion of

the judge.  “ Thus, unless and until the judge commits a clear and manifest abuse of discretion, his or her appreciation of a party’s reasons for his or her non-appearance will not be disturbed,” the CA said.

A lthough the Rules of Court should be applied with reason and liberality, the CA said, pretrial setting cannot be taken for granted.

It is more than a simple marking of evidence. It is not a mere technicality in court proceedings, for it  serves a vital objective: the simplification, abbreviation, and expedition of the trial, if not indeed its  dispensation. Hence, it should not be ignored or neglected, as the petitioner had,” the CA added.

Cayton is the owner of 501B which was badly damaged due to the explosion which investigators attributed to gas leaks caused by “unauthorized movement” of a gas range during repairs, and “negligence” of  parties concerned.

Among those killed was Angelito San Juan, who was a tenant at Cayton’s unit when the incident occurred on May 31, 2013.

S he named Alveo Land, Makati Development Corporation and Bonifacio Gas Corporation as respondents in her civil suit.  T he CA earlier directed the trial

court to proceed with the trial of the damage suit filed by Cayton after it affirmed the decision of the Taguig RTC denying the respondents’ motion seeking dismissal of the complaint.

A lveo Land, MDC and Bonifacio Gas  sought the dismissal on the ground that it  failed to state a cause of action against them considering that under Article 2179 of the Civil Code, the petitioner cannot claim for damages since she herself was the proximate cause of her injury.

The petitioners cited the interagency task force report which held  that the proximate cause of the gas leak was the unauthorized movement of the gas range in Cayton’s unit during  its renovation.

However,  the CA declared that it’s the respondents’ negligence that led to the explosion.

T he CA noted that petitioners’ introduction of a new, highly sensitive LPG system in Two Serendra for the use of their tenants in their individual units without providing sufficient safeguards to prevent “occasional negligence” is still “an act of actionable negligence” despite the intervening acts on the part of Cayton and those that conducted the renovation of her unit.

I ndeed, more than half of Filipino millennials (58 percent) and Gen Zs (59 percent) admit to living paycheck to paycheck and worry they won’t be able to cover their expenses. Their peers around the world aren’t faring any better: 52 percent of global millennials and 51 percent of global Gen Zs are in the same boat.

A nd if the economy does not improve in the next 12 months, 6 out of 10 Filipino millennials and Gen Zs believe it will become harder or impossible for them to get a new job.

T his need to supplement their paycheck appears to be having a negative impact on these young workers: 66 percent of Filipino millennials (compared to 63 percent last year) and 81 percent of Filipino Gen Zs (compared to 70 percent last year) feel burned out due to the intensity and demands of their workloads. As with last year, more Filipino millennials (49 percent) and Gen Zs (63 percent) report feeling anxious or stressed all or most of the time compared to their global peers.

E ric Landicho, Managing Partner and CEO of Deloitte Philippines, shared his take on the findings: “These results reflect the economic uncertainty millennials and Gen Zs find themselves in as the world continues to recover from the global pandemic. And while these young workers are leaning on their resourcefulness to stay afloat, organizations can play a big part in ensuring the financial well-being of their employees. Especially during this period of high inflation, organizations can look at offering flexible benefits such as those relating to health care or commuting costs to ease the impact of soaring prices on workers.”

O rganizations can also provide support in caring for the mental health of employees. On this front, it appears Philippine companies have taken to heart the lessons learned during the height of the pandemic. Nearly 80 percent of Filipino millennials (78 percent) and Gen Zs (79 percent) either agree or strongly agree with the statement, “My employer takes the mental health of employees seriously and has policies/resources designed to help.” And more than 80 percent (87 percent for Filipino millennials, 82 percent for Filipino Gen Zs) acknowledge that an increased focus on mental health at work has led to positive changes within their workplaces.

PHILIPPINE rice imports are expected to rise to a record-high of 3.9 million metric tons (MMT) this year, the US Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said, upgrading its previous forecast of 3.7 million MT.

EISMA

WAITING FOR BIG BANG Violeta Peralta paints a picture of an erupting Mayon Volcano outside their home in Legazpi, Albay province, northeastern Philippines, Sunday, June 11, 2023.

Thousands of villagers have been forced to leave rural communities within a 6-kilometer radius of Mayon volcano’s crater in Albay province which was placed under a state of calamity on Friday to allow more rapid disbursement of emergency funds in case a major eruption unfolds. S ee Mayon eruption story, page A2 AP/AARON FAVILA

Editor: Jennifer A. Ng

Companies

BusinessMirror

Tuesday, June 13, 2023

VICT expansion to reduce supply chain costs–ICTSI

By Lorenz S. Marasigan

Bruno Porchietto, the chief executive of VICT, said with the expansion will strengthen its position as the “most advanced container terminal at the Port of Melbourne.”

The expansion also enables the terminal to handle two 336-meter vessels simultaneously, including “neo-Panamax vessels of up to 14,000 TEUs, providing shipping lines with the opportunity to lever-

age economies of scale and thereby reduce supply chain costs.”

“Once the project is complete, our operations will expand from five quay cranes to eight, adding three new-generation cranes, 10 new automatic stacking cranes [ASC], and 50 percent increased yard capacity,” said Porchietto.

He said the expansion is being delivered in two phases, the first of

which is on track for completion in late 2023. The first phase will increase VICT’s capacity by 25 percent to 1.25 million TEUs and include two new quay cranes along with six new ASCs. The third quay crane and the other four ASCs are part of Phase 2, which will be scheduled for completion in line with market demand.

The terminal expansion forms a key part of the Port of Melbourne’s 2050 Port Development Strategy.

Porchietto added that the company has submitted a separate “A$500 million plus” proposal for the expansion of Webb Dock that ICTSI “believes would provide the lowest cost, most efficient and environmentally sustainable long-term solution for additional capacity at the Port of Melbourne.”

The global port operator engaged multiple firms to assess the merits of its proposal.

So far, ICTSI has already invested

more than A$700 million in VICT’s operations, “making it one of the largest nongovernment infrastructure investors in Australia.”

In March, the company announced that it will increase its capital expenditures (capex) to $400 million this year from $386.35 million the year prior, as it continues to expand its terminals around the world.

In a disclosure to the stock exchange, ICTSI said the amount will be used to expand its terminals in Australia, Mexico, Philippines, and the Democratic Republic of Congo.

The amount will also be used for the second tranche of concession extension-related expenditures in Madagascar, the yard expansion in Nigeria, the quay expansion in Brazil, the development of a newly acquired terminal in East Java in Indonesia, and equipment acquisitions and upgrades as well as maintenance requirements.

SPNEC wants to resume trading

By VG Cabuag @villygc

SP New Energy Corp. (SPNEC), whose shares have been suspended for trading at the Philippine Stock Exchange (PSE), is hoping that it can resume trading “as soon as possible” even prior to the increase of its public float.

Leandro Antonio L. Leviste, Solar Philippines founder and SPNEC chairman, president and CEO, said the company is working on increasing its public float, which fell below the minimum requirement of 20 percent for newlyregistered firms. Its public float stood at 13 percent after the Securities and Exchange Commission (SEC) approved the increase in its authorized capital stock (ACS) to P5 billion, divided into 50 billion common shares, from the previous P1 billion.

“The SEC’s approval of our ACS

increase actually came earlier than we expected. So we’re very thankful to the SEC, but unfortunately, that inadvertently also resulted in the trading suspension,” Leviste said.

“Of course, the SEC has not caused that. We should have kept the float above 20 percent.”

“We are working to increase our public float as soon as possible. And we are hopeful that we can resume trading even prior to achieving that increase.”

He said a large food and beverage company allowed to trade even if its shares fell below the minimum public float rule as it was undergoing consolidation in 2018.

The best and fastest possible option to increase its public float is through private placement to sell some 2.12 billion shares, if the 1.6 billion shares being bought by Metro Pacific Investments Corp. (MPIC) will not count.

He said the company has buyers

for that amount of shares, which will cost about P3.09 billion at its last close of P1.46 per share on June 2.

“Yes, we just need to finalize the arrangements with these identified buyers for the 2.12 billion shares, and then execute with the corresponding documentation, those share sales so that we can get back up over 20 percent.”

MPIC acquired an initial 16 percent in listed solar power company SPNEC worth P2 billion in March.

It was given an option to acquire up to a 43-percent stake in the company and become SPNEC’s biggest shareholder once the solar power firm raises its authorized capital stock to P50 billion from the current P10 billion.

The initial transaction involves a signing of a definitive agreement between the MPIC for the acquisition of 1.6 billion common shares from SPNEC’s parent, Solar Philippines Power Project Holdings Inc.

Kia Batangas City to open on June 15

B1

Globe: Corporate data segment revenues up 15% in January-March

GLOBE Telecom Inc. said on Monday the “impressive performance” of its corporate data business is a step on the “right track” to become the “leading enabler of the digital lifestyle and commerce in the Philippines.”

In a statement, Globe President Ernest Cu said the corporate data vertical generated P4.5 billion in revenues in the first three months of 2023, a 15-percent increase from the year prior.

This was mainly driven by the strong traction from its information and communications technology (ICT) services, a segment that recorded a 52-percent growth thanks to the growing demand for solutions such as cybersecurity, business applications, cloud, and data center.

“We strive to be the leading enabler of the digital lifestyle and commerce in the Philippines. The impressive performance of our corporate data segment is a clear indication that we are on the right track. We are dedicated to delivering innovative and reliable ICT solutions to our customers and driving further growth in this vital aspect

of our business,” Cu said. He added that investing in ICT infrastructure and digital transformation initiatives, enabled Globe “to seize the expanding market for technology-driven services and maintain its competitive edge.”

In the first quarter of, Globe saw its net income decline by 47 percent to P7.3 billion from P13.7 billion, largely because of the onetime gain it posted the year prior from the sale of its data center.

The company’s core net income was flat at P5.1 billion.

In February, Globe reported that its profits rose by almost half in 2022 mainly due to an all-time high topline and the partial sale of its tower assets and its data center business.

In a disclosure to the stock exchange, the Ayala-led telco reported that its full-year 2022 net income reached P34.6 billion, or 46 percent higher than the previous year’s P23.7 billion.

The mobile operator’s consolidated revenues were up 4 percent to P158 billion, an all-time high, fueled by both corporate data and mobile services.

Lorenz S. Marasigan

PRIME Legacy Motors Inc., a member of the ALC Group of Companies, is delighted to announce the grand opening of Kia Batangas City, happening on June 15, 2023. Situated within the largest transportation terminal in the Province of Batangas, the dealership promises to provide exceptional services and a memorable car-buying experience to its valued customers.

The dealership will feature a stateof-the-art showroom, designed to provide an immersive experience for visitors. With a comprehensive range of Kia vehicles on display, customers can explore the latest models and make informed decisions.

Understanding the importance of customer comfort, Kia Batangas City

will boast a cozy customer lounge where clients can relax while exploring their options or waiting for their vehicles to be serviced. In addition, the dealership will house a top-notch service center, equipped with efficient technology and staffed by skilled professionals. Clients can rest assured that their vehicles will receive exceptional care, genuine parts, and meticulous maintenance services. The grand opening ceremony of Kia Batangas City is expected to be graced by distinguished guests, including executives from Kia Philippines Motor Corporation led by President Manny A. Aligada, ALC Group of Companies Chairman D. Edgard A. Cabangon, Prime Legacy Motors Inc. Chairman and CEO D.

Edward A. Cabangon, and Prime Legacy Motors Inc. Director D. Arnold A. Cabangon. Provincial and local government officials, including Batangas 5th District Representative Mario Vittorio “Marvey” Mariño and Mayor Beverley Rose A. Dimacuha are also expected to witness this milestone.

Prime Legacy Motors, Inc. is honored to be granted a dealership license by Kia Philippines Motor Corporation in 2021. It is a member of the ALC Group of Companies founded by the late Ambassador Antonio L. Cabangon Chua, which is the home of some renowned brands in various industries including insurance, banking and finance, pre-need, memorial care, hotels, and media, among others.

InternatIonal Container terminal Services Inc. (ICtSI) is injecting a$325 million into the Victoria International Container terminal (VICt) in australia to expand the port and accommodate larger ships.

IC places Loyola Plans under receivership

By Jasper Emmanuel Y. Arcalas @jearcalas

THE

In a notice to the public, the IC announced that LPCI was placed under receivership pursuant to Section 50 of the Pre-Need Code.

The IC added that Atty. Dionne Marie M. Sanchez was assigned as the receiver effective last March 30, according to the notice posted on the regulator’s website last May 15.

“Moreover, the Stay Order dated 01 March 2023 issued against LPCI is still effective in order to consolidate and protect the assets of LPCI for the benefit of the planholders and

Finding financial fitness: Financial mistakes married couples should avoid

THERE is general belief that marriage is a union between two imperfect people choosing to love one another. While this is indeed true, the reality is that unions are put to the test when it comes to financial difficulties. In this article, I will be discussing 10 money mistakes that couples make and what can be done to correct them.

1. Ignoring a budget. Not having a budget or simply ignoring it can lead to overspending, bigger debt, and difficulty achieving financial goals. Once you are aware of how much you earn, it is important to spend within your means.

2. Impulsive purchases. Sometimes, when we have lots of money in our hands, there is a tendency to buy something that catches one’s eye. It can be a luxury bag, a watch, or an experience at a fine-dining restaurant. We may try to justify our spending, but at the end of the day, savings and long-term financial goals are compromised. Before buying anything, think it over several times.

3. Excessive debt. High-interest debt, such as credit card debt, can strain a family’s finances. By paying only the minimum amount due and not the full amount, hefty finance charges make it difficult to save up. To avoid this problem, one must settle all credit card dues. Make use of debt sparingly and wisely.

4. Keeping separate bank accounts without joint objectives. As a couple with joint goals, it is important to have joint bank accounts. Having separate accounts can create a lack of transparency and hinder joint financial planning.

5. Lack of open communication. suddenly discovering that your partner has a huge debt due to overspending or bad decision-making can put a strain on the relationship and ultimately affect it. Make it a point to have weekly and monthly meetings to discuss finances. Share an online worksheet where both of you can monitor expenses and income that comes in.

6. Having no emergency fund. When an unexpected expense comes in and there is no emergency cash on hand, a couple may end up having a tough argument as to who should take out debt or shoulder the expense. To avoid this situation, it would be wise to save up at least 6–12 months’ worth of family expenses in a joint savings account. This will serve as the family’s

THE Philippine Deposit Insurance Corp. (PDIC) advised the borrowers of Rural Bank of San Juan (Southern Leyte) Inc. to pay their loans despite the bank being already closed.

“[PDIC] advised borrowers of the closed Rural Bank of San Juan [Southern Leyte Inc.] that they are under obligation to pay their loans notwithstanding the closure of the bank,” read a statement issued recently by the PDIC.

The PDIC, which is the statutory receiver of the closed rural bank, told the borrowers to transact only with authorized representatives of the government agency, “emphasizing that it has not engaged any person, agent, or agency to collect the loan payments for and on behalf of the bank.”

“The PDIC encouraged borrowers of the bank to settle their entire balance by availing of the incentives under [our] enhanced ‘Closed Bank Loan Incentive Program’ [CLIP],” it said.

“Qualified borrowers who will make a one-time cash payment of their loans can

emergency fund.

7. Ignoring the importance of insurance. Having inadequate insurance coverage can easily wipe out any emergency fund a couple might have. To plan better for the future, one should allot a budget for life and health insurance, accident insurance, and property insurance.

8. Inequitable financial contributions. When one partner earns a lot more than the other, this can create power dynamics and strain the relationship, leading to dissatisfaction and resentment. In this instance, it is best to talk things out and find a win-win setup.

9. Failing to invest wisely. At times, an investment or business opportunity comes up and is offered to a young couple. The offer seems too good to be true due to the promised returns, but ultimately, the couple decides to invest. Unfortunately, they lost money when it was uncovered as a scam.

10. Lack of retirement planning. Couples might enjoy living in the moment too much. As they say, you only live once. This can lead to a lack of retirement planning. By the time they retire, they may realize too late that their retirement fund can only last so long. This can shatter their dreams of having a comfortable retirement. To avoid this scenario, it is best to save early and consistently for retirement. Consult with a financial advisor on how to best maximize your savings and investments and monitor your retirement fund’s progress.

If you want to know more about how to achieve financial fitness, you can join the 11th Financial Fitness Forum that is happening on June 17, 2023. The event will feature top Registered Financial Planners in the country who will share their invaluable insights and tips on personal financial planning. This event is made possible with the support of IMG, Kaiser, Manila Bankers Life, Rampver Financials and Atram.

To know about my financial advocacies, feel free to browse my official web site at: https:// www.ohmyfinance.pro/about-the-business-coach.

Raymond Anthony Quisumbing is a Registered Financial Planner of RFP Philippines. Follow him on Twitter via @ OhMyFinancePH. To join Financial Fitness Forum 2023, please visit RFP Philippines fan page or email us at info@rfp.ph or text at 0917-6248110.

benefit from CLIP’s substantial discounts,” it added.

The PDIC explained that deposits of borrowers, who have past due loans, are automatically applied to their outstanding obligations.

“If the loans are in current status, the borrowers may opt to apply their deposits against their loans, to avoid paying interest on their loans,” the government instrumentality said.

The Rural Bank of San Juan (Southern Leyte), a single-unit rural bank, was ordered closed by the Monetary Board through its Board Resolution 662.B last May 25.

The PDIC took over the bank and its assets, records and affairs last May 29.

“The PDIC Charter provides in Section 13, that a bank placed under liquidation shall in no case be reopened and permitted to resume banking business,” it said.

“Furthermore, Section 12 expressly provides that banks closed by the Monetary Board shall no longer be rehabilitated,” it added. Jasper Emmanuel Y. Arcalas

creditors while undergoing receivership proceedings,” read the notice signed by Insurance Commissioner Reynaldo A. Regalado.

Last March, the IC issued the notice of stay order regarding the conservatorship of the LPCI.

“Based on the evaluation of the company’s liquidity and solvency by the Conservator, LPCI is, at this moment, not financially capable to continue paying benefits,” the IC said. Sanchez was also the appointed conservator of LPCI.

In 2019, the LPCI was placed by the IC under conservatorship as the company was unable to comply with the minimum unimpaired paid-up capital and trust fund requirements. (Related story: https://businessmirror.com.ph/2019/07/29/icputs-loyola-plans-on-conservatorship/)

During that time, the IC determined that the LPCI’s trust fund was only at P932 million as against its total preneed reserves (liability) of P1.48 billion.

Earlier last month, the IC put up for sale the various assets of LPCI that include land lots, hotel units, buildings, town house, condominium units and club shares among others, worth at least P1.557 billion.

In August 2022, the IC published a notice of sale for land owned by LPCI with an estimated area of 203,083 square meters. The property had a minimum offer price of P1.177 billion, according to the IC’s notice of sale.

Pagcor reinforces regulations vs illegal offshore gaming ops

AS part of the inter-agency effort to curb all illegal offshore gaming activities within the Clark Freeport Zone in Pampanga, the Philippine Amusement and Gaming Corp. (Pagcor) joined the newly-created Clark Security Advisory Council.

During a news conference for the launching of the new Council on June 9, Pagcor Assistant Vice President for Offshore Gaming Licensing Jessa Mariz R. Fernandez announced that the regulator will impose stricter sanctions to all erring licensed offshore gaming operators and accredited service providers. As part of these sanctions, Fernandez, a lawyer, mentioned that those who will be found allowing other entities to use the licenses or accreditation given to them will be subjected to a hefty penalty, including the cancellation of their licenses or accreditation.

Clark Development Corp. (CDC) President and CEO Agnes VST Devanadera announced that the CDC Board approved the recommendation of the CDC management to halt processing of new lease or sub-lease applications by offshore gaming operators.

“The CDC will no longer process or approve the operation of any incoming overseas gaming, even if they already have a license from Pagcor,” Devanadera was quoted in a statement as saying.

At present, Pagcor has four remaining ac-

credited service providers and one licensed offshore gaming operator inside the Clark Freeport Zone (CFZ).

Pagcor said that prior to the launch of the creation of the Clark Security Council, the government-owned and -controlled corporation has cancelled the provisional accreditation of Sun Valley Clark Hub Corp. as an offshore gaming hub within the CFZ for its failure to

ensure a lawful and orderly conduct of offshore gaming by its occupants in its registered sites. Pagcor said it, likewise, cancelled the accreditation of CGC Technologies Inc., an offshore gaming service provider based in Pampanga after the company was embroiled in various allegations including credit card fraud, serious illegal detention, and human trafficking activities.

Insurance Commission

(IC) has placed the Loyola Plans Consolidated Inc. (LPCI) under receivership after the pre-need company has been deemed insolvent.

PDIC asks shuttered bank’s borrowers to still pay loans

raymond anthony Quisumbing

This June 9, 2023, photo shows Philippine Amusement and Gaming Corp. Vice President for Monitoring and Enforcement Group Robert C. Lucquiao (third from right), Pagcor Assistant Vice President for Compliance, Monitoring and Enforcement Department Lauro C. Marinas (second from right), Pagcor Assistant Vice President for Offshore Gaming Licensing Department Atty. Jessa Mariz R. Fernandez (fourth from right) and some Pagcor officers with Clark Development Corp. President and CEO Agnes VsT Devanadera (fourth from left) in a photo opportunity during the launch of the Clark security Advisory Council last Friday. CREDIT: Ph l PPInE AmusEmEnT AnD GAmInG CoRP

Art BusinessMirror

Six abstractionists meet at Gallery C’s ‘Crossroads’

NON-FIGURATIVE art takes the spotlight at Conrad Manila’s Gallery C with six Filipino abstractionists converging for the latest iteration of the space’s Of Art and Wine series, the gallery’s third edition this year and 24th overall.

During the recent opening of the exhibition, titled Crossroads, Conrad Manila general manager Fabio Berto underscored how art remains at the core of the Pasay City hotel as it celebrates its 7th anniversary this month.

“Since Conrad Manila opened in 2016, it has always endeavored to create a space where every visit is an opportunity to be inspired,” Berto said. “Our hotel, from the lobby to its walls, has become a canvas for both emerging and established artists whose wonderful creations evoke emotions of all kinds.”

The variety proves even wider and ever vigorous with the strong selection of 23 abstract artworks featured in Crossroads. Presenting stories in colors that drip and drop, caress and explode, the group exhibition showcases the works of Fitz Herrera, Binong Javier, Marlon Magbanua, Coeli Manese, Bea Policarpio and Resty Tica.

Acclaimed art critic Cid Reyes graced the opening and gave his take on the wonders of abstract art. The way he “introduces abstraction to the people who resist it,” he said, is by asking them if they’ve seen the Manila Bay sunset.

“Of course everyone is moved emotionally by

the sight of it, but what is the sunset anyway? It is nothing, nothing really, but a magnificent expanse of light and color—this merging, this conflict between light and darkness at the moment of the day when the earth starts to move. And you feel all these emotions when you look at these different changes, these colors—the reds, the oranges, the yellows, and then the creeping darkness,” Reyes said. “And it’s a very emotional experience. That’s exactly what abstraction is.”

For Bea Policarpio, one of the exhibiting artists,

Art exhibit for Pride Month

IN line with the celebration of Pride Month, Araneta City brings the art exhibit Tanggulan to help raise HIVAIDS awareness.

The exhibit features 10 portraits of HIV-AIDS awareness advocates photographed by Niccolò Cosme, all printed on canvas and painted with HIV+ blood emulsified.

It opened at the Gateway Gallery Studio on June 8 with a ribbon-cutting ceremony led by Binibining Pilipinas Miss International 2022 Nicole Borromeo.

“The exhibit title is to pay homage to our forefathers who fought for our freedom. Just as how the Katipuneros fought for our freedom in the past, we must fight against stigma and misinformation. As warriors and soldiers committed to upholding our Filipino value of bayanihan, let us

TODAY’S HOROSCOPE

CELEBRITIES BORN ON THIS

DAY: Kat Dennings, 37; Chris Evans, 42; Tim Allen, 70; Stellan Skarsgard, 72.

HAPPY BIRTHDAY: Question everything and everyone this year. Verify information, control what’s important to you and don’t let anyone talk you into doing things that make you feel uncomfortable. Check off all the boxes on your to-do list. Take the initiative to plan your actions and stick to your path. Personal gain, self-improvement and romance are favored. Your numbers are 3, 11, 20, 22, 27, 34, 45.

ARIES (March 21-April 19): Refuse to let what others do stand in your way. Stick to the most efficient path, and you’ll get to the finish line on time. Don’t let anyone persuade you to follow rather than lead. Stay in control, and you’ll reach your goal.

TAURUS (April 20-May 20): Money matters will not be straightforward. Avoid joint ventures and shared expenses to evade paying for someone else’s mistakes. Learn through observation, but follow your heart when it comes time to decide what to do next. Anger breeds contempt. ★★★

GEMINI (May 21-June 20): Chitchat will spark ideas and feed your imagination. Distance yourself from people who cause emotional problems or try to stand in your way. Make sure you have your documents to avoid bureaucratic setbacks. Fix your surroundings to suit your needs. ★★★★

CANCER (June 21-July 22): Put your wallet away. If you want to donate, offer your time, not your cash. The biggest impact you have on others comes from how you handle matters. Set a good example, and an unexpected offer will spark your interest. Prepare to act. ★★

LEO (July 23-Aug. 22): Simplify your plans to suit your needs and budget. Reach out to someone you know who can contribute what you require to make your life and work more efficient. Don’t engage in something based on nonsense or poorly prepared or presented. ★★★★★

VIRGO (Aug. 23-Sept. 22): Emotional spending won’t pay the bills. Rethink your strategy and budget wisely. Changing how or where you live will help lower your debt load and make goals easier to pursue. Trust your instincts, do your research and make moves. ★★★

their works celebrate the paradox between complexity and simplicity.

“Our art strives to deepen the mystery of our individual ideas. But at the same time, it also aims to bring up to the surface a certain clarity about our collective consciousness and our shared human experience,” she said. “It’s in these crossroads, in this balance between light and shadows, that our art is born.”

Crossroads at Conrad Manila’s Gallery C (+6328833-9999) is on display until August 12. ■

photographer, and the founder of Project Headshot Clinic (HSC), a digital platform that utilizes thematic headshots to further featured advocacies. His art inspiration is rooted in the pain and sorrow in Christian iconography. He uses art to further LGBTQIA+ and HIV causes in the Philippines and abroad.

LIBRA (Sept. 23-Oct. 22): A cheery disposition will work well for you when trying to drum up interest in your plans. The more energetic you are, the more enthusiasm you will encounter from those considering participating in helping you bring about change. ★★★

SCORPIO (Oct. 23-Nov. 21): Take care of yourself and your reputation. Honoring your promises and obligations will display loyalty to your beliefs and a desire to make a difference. Think outside the box, and the plan you devise will stand the test of time. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): How you handle money, contracts and medical issues will stand out. Refuse to let anger set in when discipline and common sense are your tickets to success. Distance yourself from anyone trying to use emotional blackmail to push you in a different direction.

CAPRICORN (Dec. 22-Jan. 19): Partnerships, communication and discipline are necessary. Don’t take on too much or overreact to the decisions others make. Do what’s best for you, and avoid anyone asking for too much. Connect with someone who can offer insight and opportunity.

support each other and aim for an AIDS-free world together,” Cosme said.

The portraits depict the fight for the rights of people living with HIV, with the models adorning warriorlike ensemble interpreted by designer Myke Oropesa. They were styled with

headgear, and kampilan sword. Among the portrait models are Binibining Pilipinas 2022 Miss International Nicole Borromeo, and Miss Universe 2015 Pia Wurtzbach-Jauncey.

Cosme is a visual artist, conceptual

The Tanggulan exhibit is the premiere exhibit at the Gateway Gallery Studio since it was opened this year. The studio is an antechamber of Gateway Gallery, the art museum of Araneta City that showcases the culture and history of the Philippines. The exhibit will be on view at the Gateway Studio for public viewing until June 18. It will then be transferred to the Ali Mall Activity Area from June 19 to 22, and the Gateway Mall Activity Area from June 23 to 30.

AQUARIUS (Jan. 20-Feb. 18): Consider what makes you happy, and gravitate toward the people, places and pastimes that bring you joy. Distance yourself from those offering temptations that are costly or not good for you physically or financially.

★★

PISCES (Feb. 19-March 20): Keep your thoughts and plans to yourself. Be observant, and you’ll dodge someone trying to exploit you. Look for an endeavor that will help you raise your earning potential. ★★★

BIRTHDAY BABY:

You are fun-loving, ambitious and friendly. You are insightful and demonstrative.

‘chain letters’ BY ALEX EATON-SALNERS

The

VISUAL artist and conceptual photographer Niccolo Cosme (right) with Binibining Pilipinas Miss International 2022 Nicole Borromeo.

Show BusinessMirror

‘Transformers’ edge out ‘Spider-Verse’ to claim first place at box office

By Lindsey Bahr The Associated Press

IT was Miles Morales and the the Transformers at the box office this weekend and the bots came out on top.

Mavy, Kyline banner

‘lUv iS: love at FirSt re ad’

FoLLoWINg the success of LUV IS: Caught In His Arms comes the second collaboration project betwen gMA Network (www.gmanetwork.com) and Wattpad

WEBTooN Studios, titled LUV IS: Love at First Read.

Beginning June 12, Mavy Legaspi and Kyline Alcantara are set to solidify their title as Love Team Superstars as they play the lead roles of Kudos and Angelica/Abby in the series.

LUV IS: Love at First Read is based on the hit Wattpad webnovel of the same name by author “Chixnita.” The story has over 23 million views on Wattpad.

The series follows the story of Kudos, a secret romantic searching for the perfect girl. He finds a diary and believes that the owner of it, Abby, is the one for him. However, he also meets Angelica, a jaded girl who distrusts men and has no interest in love.

Will Kudos be able to heal Angelica’s trust issues with men? How will Kudos face his feelings for both Abby and Angelica?

Joining the ensemble cast are Therese Malvar, Mariel Pamintuan, Pam Prinster, Bruce Roeland, Josh Ford, Larkin Castor, Marco Masa, and Vito and Kiel gueco. Adding excitement to the feel-good series are seasoned artists Jackie Lou Blanco, Jestoni Alarcon and Maricar de Mesa.

LUV IS: Love at First Read is produced by the awardwinning GMA Entertainment Group headed by senior vice President Lilybeth g. Rasonable, in partnership with Wattpad WEBTOON Studios comprising president Aron Levitz.

Under the helm of Mark Sicat dela Cruz together with associate director Carlo Cannu, LUV IS: Love at First Read airs Monday to Friday beginning June 12 at 5:40 pm on gMA.

Global Pinoys can also catch the program via GMA Pinoy TV.

Transformers: Rise of the Beasts, entry in the series, took the No. 1 spot in its first weekend in North American theaters with $60.5 million according to studio estimates on Sunday.

Spider-Man: Across the Spider-Verse however, with an estimated $55.4 million in its second weekend.

Paramount Pictures released 3,678 locations starting with Thursday previews.

Set in 1994, it’s technically a sequel to the 1980s-set Bumblebee and a prequel to the other films. With a new cast led by Anthony Ramos and Dominique Fishback and a new director in Steven Caple Jr., it’s also an attempt to reset and breathe fresh life into the $4.8 billion franchise.

Rise of the Beasts also earned $110 million from 68 international markets, giving it a $170.5 million global debut.

Critics didn’t love the movie, but that’s also par for the course for this franchise. Overall, Rotten Tomatoes aggregated a less-than-fresh 52 percent rating. “The problem with Transformers: Rise of the Beasts is the same problem faced by all of the installments— balancing the humanity with the metal,” wrote AP’s Mark Kennedy in his review.

In fact, the only movie that did get a fresh rating was Bumblebee, which also made the least money of all of them. Audiences (62 percent male) were more positive, giving Rise of the Beasts an “A-” CinemaScore.

According to PostTrak surveys, general audiences gave it 4.5 stars out of 5.

While a $60.5 million opening might not seem like enough to support a $200 million production budget, Rise of the Beasts is a movie that will make most of its money abroad.

Since 2011’s Transformers: Dark of the Moon, international ticket sales have accounted for at least 70 percent of the global box office total. Two of the seven movies, Dark of the Moon and Age of Extinction from 2014, made over $1 billion each.

“To have a No. 1 debut is impressive given the formidable competition from Spider-Man: Across the

Daddies we love to follow

COME this weekend, most families will celebrate Father’s Day. Although it’s not too big a deal like Mother’s Day, Filipinos have started to embrace the importance of this special day more and more in recent years.

Boom Labrusca is having the best time of his life as a father to his and Desiree del Valle’s son, Alexander Sebastian, who is turning 2 this October.

“Our baby boy Bash is our focus, our priority, our true source of joy and happiness,” Labrusca enthused, adding, “Being there every day and watching him grow to be a happy kid is just priceless.”

Labrusca shared that they are hands-on parents, and that’s the reason why Desiree has turned down a lot of offers for her to go back to acting. “I’m the one who is open to acting jobs but I am also very particular about where the shoot will be. Lockedin and faraway locations are difficult at this time because that means I’ll be away from my family for a period of time,” he told us.

Labrusca became a first-time dad 27 years ago, also to a son, who later on pursued a career in entertainment. Tony Labrusca has been making a

name on his own as a singer-actor for sometime now, after joining a reality talent show a few years back.

“Destiny happens in God’s perfect time. Being parents to a toddler can be quite challenging but it is always a happy kind of challenge. Our faith is our anchor, and we believe that God provides for all our needs,” Labrusca added.

Liza Diño’s unica hija Amara now refers to Ice Seguerra as Dad. Amara, now 15, came to Ice’s life when she was barely 4 years old. Seguerra admitted that she was initially scared and was full of selfdoubt. “It was Amara who constantly assured me that everything was good, and her love took away any doubt, fear and unnecessary worry inside me that allowed me to let my guard down and let things progress the way they should. I am grateful to have her as a daughter.”

Father’s Day last year, Amara posted that she is so

Spider-Verse, which had a much stronger opening than anyone anticipated and in its second weekend is a really powerful player,” said Paul Dergarabedian, the senior media analyst for Comscore.

Sony’s Spider-Verse sequel fell about 54 percent. In just two weeks, it’s already surpassed the total domestic box office of the first film with $225.4 million in ticket sales and become the highest grossing Sony Pictures Animation release. With terrific reviews in its arsenal, Spider-Verse is likely destined for a longer life at the box office, too.

Third place went to Disney’s The Little Mermaid, which earned $23 million in its third weekend, where it’s playing in 4,320 locations in the US and Canada. The live-action movie has made $414.2 million globally to date.

Two other Walt Disney Co. releases rounded out the top five, with Guardians of the Galaxy Vol. 3 in fourth with $7 million in its sixth weekend and The Boogeyman, in weekend two, in fifth place with $6.9 million.

While many of the films in the top 10 are known

happy that Ice is inspired and active again with the things he loves doing. “I hope that you continue to reach for the great things you have always wished for and showcase the many skills you [have been] gifted with. I love you very much. Thanks for being the best dad for me, and for always ‘chilling’ with me!”

Cebu’s pride and Pinoy Big Brother 2012 grand winner Slater Young decided to leave show business and is now a successful engineer, running a construction business in the Visayas. He is happily married to Kryz Uy and the couple now has two boys—Scottie and Tobi. “I believe that every major thing in life is a decision. Love is a decision. Who you marry is a decision. The career path you want to take is a decision. Happiness is a decision,” he intoned.

Young turned his back on show business because he felt he doesn’t possess the depth and skills needed to actually be able to do well in front of the cameras.

brands or IP, one original property, A24’s Past Lives, is making waves in the specialty space. Playing on just 26 screens in its second weekend, Celine Song’s romance made $520,772 for a stunning $20,030 per screen average. It expands nationwide on June 23. The summer movie season should continue to pick up heat with major new films coming nearly every week. Next weekend family audiences get Pixar’s Elemental, while the superhero crowd can catch up with The Flash.

Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore.

1. Transformers: Rise of the Beasts, $60.5 million

2. Spider-Man: Across the Spider-Verse, $55.4 million

3. The Little Mermaid, $22.3 million.

4. Guardians of the Galaxy Vol. 3, $7 million

5. The Boogeyman, $6.9 million

6. Fast X, $5.2 million

7. The Super Mario Bros. Movie, $2.1 million

8. About My Father, $845,000

9. The Machine, $575,000

10. Past Lives, $520,772. n

“It’s like it’s not who I am, not my culture, it’s so different from who I am and who I want to be.”

What gives him immense happiness these days is family, especially his role of being a dad to his two sons. “Seeing them grow up, being with them when they first walk or talk or grow their teeth, all these are precious and are etched in my heart. One’s perspective in life changes and automatically shifts once a guy becomes a dad. You strive to become a better person not only for yourself but for your family, your kids and their future.”

While writing this piece, we just received news that Diego Loyzaga has also become a father. Loyzaga posted a photo showing him carrying a newborn baby with the caption “The best birthday gift ever.”

Loyzaga, son of actors Cesar Montano and Teresa Loyzaga, turned 28 a few weeks ago.

to all these daddies we love to follow.

FRom left: Boom Labrusca with Bash, Ice seguerra with Amara, slater young with scottie, and Diego Loyzaga with baby.

mAvy LegAspI (left) and Kyline Alcantara star in LUV IS: Caught

In His Arms

Governance mismatches is theme of 2023 Human Development Report

income countries; and stress and sadness are on the rise. Over the past two years, and for the first time ever, the global human development index has declined – setting global progress back to 2016-levels.

The 2023 HDR will be the first in a new series, focusing on why political and social polarization is intensifying across the world, and how to foster cooperation and collective action in the face of shared challenges.

During the panel session, panelist Professor Tan Sri Dr. Jemilah Mahmood, Executive Director, Sunway Centre for Planetary Health, Sunway University said “The 2022 HDR explained the very real challenges that come with the transition to a period in human history where our actions have a determining consequence on the state of the planet; where the health of planet and people are irrevocably intertwined and where we are struggling with uncertainties that humanity has not previously experienced. This uncertainty complex is cascading, and colliding, and we have to find a way out of it.”

Keynote speaker Tan Sri Azman Hj. Mokhtar, Chairman, Lembaga Tabung

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Dairy Queen unveils new Blizzard Cake, Blizzard Blue Swirl Topper for gigachads in your life this Father‘s Day

KUALA LUMPUR – The Asia Pacific regional consultation for the next series of Human Development Reports kicked off recently, a joint effort by the United Nations Development Programme and the Sunway Centre for Planetary Health, Sunway University. More than 100 attendees participated in the public panel session.

The consultations intend to ignite conversations, with the purpose of seeking input and advice from thematic and regional experts for the upcoming report’s content. Consultations will inform the process of developing the report and ensure that it speaks to key human development issues and challenges for people and policymakers.

The Human Development Report (HDR) has been published annually by

UNDP’s Human Development Report Office since 1990. Each year, HDRs explore different themes through the human development approach. The reports have extensive influence on development debate worldwide. In 2022, Malaysia maintained its position at number 62 out of 191 countries and territories with an HDI or Human Development Index score placing it in the “Very High Human Development” category.

The recent series of HDRs (2021-22) found that average progress in traditional development indicators has not necessarily translated into increased individual life satisfaction. Globally, perceptions of insecurity and feelings of distress are reaching record highs: six out of seven people report feeling insecure about many aspects of their lives, including in high-

Haji Malaysia added “At the end of the day, the great variable is us, human beings. Hence, the Anthropocene. We have been given both a gift and a curse, and that is free will and personal agency. It is our actions that impact the state of the planet.”

Panelist Joseph D’Cruz said, “Governance of our economic systems are traditionally built on contestation. That limitless individual creative destruction no longer works when there are limits beyond our control – planetary boundaries. We need to bring citizens deeper into the process of developing policies, invest in social capital – education and healthcare, and political and economic governance systems can only function when built upon strong social foundations, trust, shared values and interest”.

BDO Foundation builds blood center in Butuan to serve Agusan del Norte, other Caraga provinces

AS it continued to rehabilitate rural health units in disadvantaged communities across the country, BDO Foundation also constructed a facility that serves blood donors and patients in Agusan del Norte and neighboring provinces in the Caraga region.

In support of the Philippine Red Cross (PRC) mission to provide lifesaving services for Filipinos particularly the underserved and those in vulnerable situations, the foundation recently built the PRC Agusan del Norte - Butuan City Chapter Blood Center.

The corporate social responsibility arm of BDO Unibank turned over the structure to the country’s premiere humanitarian organization in an event witnessed by

PRC secretary general Gwendolyn Pang, PRC assistant secretary general Dr. Christie Monina Nalupta, PRC Agusan del Norte Butuan Chapter board of directors chairperson Joanna Cuenca, BDO Foundation president Mario Deriquito, BDO Butuan-J.C. Aquino Avenue branch head Janice Arapan, and branch heads of BDO and BDO Network Bank in the province. Pang graciously welcomed the initiative and congratulated the partners, saying, “This facility represents a step forward in the delivery of a healthcare system that is capable of meeting patients’ needs in the 21st century. Together with PRC chairman Richard Gordon, we would like to thank BDO Foundation for making the construction

of the Agusan del Norte - Butuan City Chapter Blood Center possible.”

Supportive of the International Red Cross and Red Crescent Movement, the blood center benefits patients in the Caraga region who need safe, adequate and high-quality blood and blood products. The construction of the building—funded by the foundation as well as contributions from BDO employees—includes the provision of basic equipment, furniture and fixtures.

BDO Foundation’s corporate citizenship initiative in Butuan contributes to the achievement of the United Nations Sustainable Development Goal no. 3 to ensure healthy lives and promote the wellbeing of all people at all ages.

WHEN you hear the word “gigachad,” who does it remind you of? For many people, that would be their dads, and there could be many reasons why. Dads provide a feeling of security physically and emotionally and are also protective and reliable breadwinners. This is why they deserve a cool gift this Father’s Day!

If you still don’t know what to give your dad on his special day, don’t worry because we got your back! Throw dad the sweetest

surprise on Father’s Day with two limited-time offers from Dairy Queen: the new Father’s Day Blizzard Cake and Father’s Day Blizzard Topper – Amazing Blue Swirl!

First is the Father’s Day Blizzard Cake, available in an eight-inch round cake for only P1,199! Indulge in 100 percent ice cream cake made with a base layer of Dairy Queen’s rich and creamy vanilla soft serve, a middle layer of Dairy Queen’s signature fudge and crunch center, and a top layer of Oreo Blizzard, which is then covered with delectable blue frosting and finished with a simple massage just for him.

That’s not all. Let him know that he’s the “best dad” with the Father’s Day Blizzard Topper – Amazing Blue Swirl, which is just the icing on top that will make every Blizzard even more satisfying! The Amazing Blue Swirl can be availed with any regular, medium, or large Blizzard of your choice for an additional P10.

The Father’s Day Blizzard Cake is available for take-out and delivery via Dairy Queen’s official channels, as well as delivery partners GrabFood, foodpanda, and Pick.A.Roo (prices may vary). Meanwhile, the Father’s Day Blizzard Topper – Amazing Blue Swirl is available exclusively via in-store take-out. Both will be on the menu from June 13 to 18, 2023 only, so order as soon as they become available if you don’t want to miss out!

Cervical cancer coverage: A top prioirty of PhilHealth in Universeal Heatlh Care through Konsulta, Z Benefits

THE Philippine Health Insurance Corporation (PhilHealth) provides coverage for cervical cancer screening through the Konsultasyong Sulit at Tama (Konsulta) primary care package and cervical cancer treatment through the Z Benefits. Since 2015, benefit claims for cervical cancer filed under the Z Benefits amount to P31 million.

“We are glad that your PhilHealth has been able to extend medical care benefits to those women suffering from this dreaded disease. Indeed, the state health insurer is always looking into the welfare of its members and always doing its best to provide financial risk protection whenever and wherever Filipinos need quality health care,” Acting PhilHealth President and CEO Emmanuel R. Ledesma, Jr. said.

Each year in the Philippines, 7,897 women are diagnosed with cervical cancer, and 4,052 die from the disease. Cervical cancer ranks second in cancers among women in the Philippines and the second most common cancer in women between the ages of 15 and 44 (DOH, May 2023). Warning signs of cervical cancer show abnormal bleeding or foul-smelling vaginal discharge, bleeding after sexual intercourse, persistent back, leg, or pelvic pain, and unexplainable weight loss.

The World Health Organization (WHO) recommends screening for cervical cancer from 30 years of age in the general population of women or earlier for sexually active women. Further, updated guidelines of the WHO recommend Human Papillomavirus (HPV) tests for cervical cancer screening, which is more costeffective than cytology (i.e., Pap smear).

In addition, the WHO also recommends the primary target of vaccination against HPV, which is the first line of defense against cervical cancer, are girls aged 9 to 14. The secondary targets for HPV vaccination are boys and other

females whenever feasible and affordable.

Meanwhile, in a recent report by Professor Dindo Manhit of Stratbase ADR Institute along with other Cancer Societies and Cancer-free Movement, their groups discussed evidencebased and cost-effective interventions that will scale up the elimination of cervical cancer in the Philippines and to officially launch the Zero Cervical Cancer Movement.

PhilHealth acknowledges the groups’ effort to bring down the incidence of cervical cancer if not totally eliminate this catastrophic illness by boosting immunization, vaccination and treatment control programs and fully support their future projects in collaboration with other sectors. Furthermore, in response to their call to expand coverage of the Z benefits package for cervical cancer and even include HPV Screening in the soon-to-be introduced Konsulta Plus Package, the PhilHealth Chief has this to say.

“We are determined to further enhance our benefits package to provide responsive coverage for our members and their dependents needing treatment. Cancer screening will be included under Konsulta primary care package while the Z Benefits covers treatment for this type of cancer. This year, enhancement in select Z Benefits packages will include cervical cancer,” he added.

Currently, PhilHealth has two Z Benefits packages that cover complete course of treatment for cervical cancer for stages IA1, IA2IIA1 where it pays P120,000 for Chemoradiation with Cobalt and Brachytherapy (low dose) and P175,000 for Chemoradiation with Linear Accelerator and Brachytherapy (high dose).

Ledesma also stressed the importance of more healthcare providers being contracted for PhilHealth’s Z Benefits Package for cervical cancer to ensure greater access to patients.

THE Philippine Red Cross blood center built by BDO Foundation in Butuan will enable the humanitarian organization to accommodate more patients in the Caraga region.

FROM left, Joseph D’Cruz, Former Senior Advisor to the UNDP Administrator and Lead Author of the UNDP Strategic Plan 2022-2025; Yanchun Zhang, Moderator, Chief Statistician, UNDP; Professor Tan Sri Dr. Jemilah Mahmood, Executive Director, Sunway Centre for Planetary Health; and Tan Sri Azman Hj. Mokhtar, Chairman, Lembaga Tabung Haji and former Managing Director Khazanah Nasional Berhad.

Abstinence not required: Baltimore drug treatment program prioritizes saving lives

By Lea Skene The Associated Press

Doctors used metal plates to reconstruct his lower legs and Kelly spent months learning to walk again. So began his plodding journey into the depths of substance use disorder, a downward spiral that would gradually weaken his body and consume his mind, pulling him farther and farther away from the person he once was: a supportive husband and father, a hard-working professional, a proud veteran.

After his prescribed painkillers ran out, Kelly repeatedly traveled to Florida to take advantage of the state’s loosely regulated pain management clinics. Finally, he turned to a combination of heroin and cocaine that sometimes cost $500 per day.

More than a decade later, his substance use is more manageable and less expensive, though it remains a controlling force in his life. He takes buprenorphine, a prescription medication that’s considered the gold standard for treating opioid addiction by reducing cravings and easing withdrawal symptoms.

He gets the medication through a mobile health clinic housed in a retrofitted van, which parks in some of Baltimore’s most drug-ravaged communities, including Kelly’s neighborhood. Doctors and nurses meet with patients, write prescriptions and provide basic wound care, hepatitis C treatment, packages of the overdose reversal agent naloxone and more, all free of charge.

The clinic exemplifies an ongoing shift in the nation’s approach to stemming overdose deaths, which surged during the pandemic to unprecedented heights as the potent synthetic opioid fentanyl replaced heroin in drug markets across the country.

The so-called harm reduction model, which has received endorsement and funding from the Biden administration, offers potentially life-saving services to opioid users, without requiring abstinence in return.

Advocates say it acknowledges the importance of keeping people alive, first and foremost, while they confront the sometimes insurmountable challenges associated with recovery. Critics argue it enables illegal activity.

In Baltimore’s “Healthcare on the Spot” program, most patients continue using street drugs, but the vast majority report using less, according to clinic staff.

“Being an addict, it’s more complicated than people think,” said Kelly, 49. “We built this web we’re entangled in. We didn’t get here overnight and we’re not gonna get better overnight. You can’t just snap out of it.”

Baltimore’s overdose death rate is significantly higher than the statewide and nationwide averages, with more than 1,000 lives lost in 2020, the most recent data available. The city makes up about 10 percent of

Maryland’s population but logs more than 35 percent of its overdose deaths.

Though efforts to address the problem have fallen short of achieving large-scale change, Baltimore has long been ahead of the curve. The city launched a needle exchange program in 1994, and in recent years, officials have focused on expanding access to naloxone while reducing low-level narcotics and drug paraphernalia arrests. A local organization runs another mobile treatment program that parks outside the city’s jail and offers buprenorphine prescriptions to people getting released.

“We should be thinking about harm reduction on a spectrum. Some people want to stop using, others want to use safer. This is about truly meeting people where they are,” said Dr. Letitia Dzirasa, who served as the city’s health commissioner until recently being appointed deputy mayor. “It’s also about reducing the stigma. Because this is a disease, not a moral failing.”

No ID needed

THE Spot van has a waiting area, two small exam rooms and an even smaller bathroom. During private consultations, medical providers often address their patients like old friends. They might discuss family dynamics, housing issues, mental health concerns, long-term goals, recent substance use and more.

The clinic coordinates with several pharmacies across the city so patients can get their prescriptions filled almost immediately after leaving the van. They don’t need an ID or health insurance to enroll. And there’s just one requirement for them to keep getting buprenorphine through the clinic: They have to demonstrate they’re taking the medication somewhat regularly.

Buprenorphine, which received federal approval for treatment of opioid use disorder in 2002, binds to opioid receptors in the brain without producing a euphoric high.

Often prescribed under the brand name Suboxone, it typically comes in orange strips that dissolve under the tongue.

Research shows the drug significantly reduces a person’s risk of overdose and death. Despite its effectiveness, a relatively small percentage of people experiencing opioid addiction are prescribed the medication.

In contrast to methadone treatment, which is highly regulated and often requires patients to visit a clinic every day, buprenorphine prescriptions can last weeks or months.

In December 2022, federal lawmakers passed legislation making it easier for doctors to prescribe buprenorphine, recognizing its lifesaving potential. Drug overdoses nationwide have claimed more than 100,000 lives annually since 2020, with about two-thirds of them re -

lated to fentanyl.

Asked why they sought treatment, many Spot patients said they’re just tired—tired of chasing fentanyl’s dangerous high and living in perpetual fear of withdrawal sickness, wondering whether the next dose would kill them, sometimes even hoping it would.

“You’re using just to feel normal, spending all your money on dope,” said Saprena Culver, 40, who enrolled in the program earlier this year. “It controls your whole entire life, your whole entire being.”

Culver’s four children are living with relatives in West Virginia, but she thinks about them constantly and hopes to be reunited soon. She said this isn’t her first time seeking treatment: She previously spent 12 years participating in a methadone program, which had stricter rules. Even though she ultimately was kicked out after relapsing, she found the added accountability measures helpful.

It’s currently not uncommon for people to buy Suboxone off the street, often to stave off debilitating withdrawal symptoms, which means some Spot patients could be profiting off their prescriptions.

Despite their firm belief in expanding access to the medication, clinic staff are continuously grappling with how best to serve people who aren’t ready to stop using.

Pain and stress

KELLY grew up in Baltimore, where his paternal grandparents settled after migrating from Ireland.

Always an adrenaline junkie, he competed on his high school’s wrestling team and joined the Marines in 1992. He served eight years on active duty, including stints in Egypt, Thailand and elsewhere around the world. Kelly said he couldn’t believe his luck, finding a job that let him fulfill a lifelong dream, experience other cultures and get paid to work out.

It was through the military that he met his future wife, a fellow Marine. Their son was born in 2000 and spent much of his childhood in Baltimore.

Sometime after the marriage dissolved, mother and son moved to Florida while Kelly stayed put. He was living in his grandmother’s southwest Baltimore rowhouse, which he later inherited.

During a recent visit, an unopened package of naloxone lay on the kitchen table alongside dishes, pans and groceries. A framed photo showed a teenage Kelly competing in a wrestling match, muscles bulging as he overpowered his opponent. A sign above the front door bestowed “Irish Blessings” upon the building’s occupants.

Kelly’s beloved dog, an elderly, Pomeranian-long haired Chihuahua mix named Annie Oakley,

bounded down the carpeted staircase and wriggled across the linoleum kitchen floor, wagging her tail for attention.

“She runs this house,” Kelly said, laughing and hugging her to his chest. He recalled a time when he overdosed and Annie alerted a neighbor, who found him unconscious and called an ambulance.

The three-story brick rowhouse is sturdy and well maintained. For Kelly, it’s filled with family memories spanning generations. But the interior has seen better days, with sparse furniture and cluttered surfaces. Kelly rents out rooms, sometimes to people experiencing addiction and desperate for somewhere to stay, which he said can create a volatile environment.

The previous few weeks were especially tough. He developed a leg infection after a bicycle accident and was dealing with a dispute involving a former tenant who owed someone money. Pain and stress, he said—two common triggers of addiction.

“I’m trying to do right every day,” he said, stroking the top of Annie’s head. “But sometimes, it’s like you’re damned if you do, damned if you don’t.”

His face softened talking about his son, who is in college studying to become an environmental engineer. Scrolling through his phone, Kelly proudly displayed a recent photo of him. Something worth fighting for, he thought. He becomes nostalgic thinking about the years before his addiction, when he was a hard-working dad.

Kelly said he wants more people to understand the realities of substance use disorder, how it gradually consumes your life until you almost don’t recognize yourself anymore. He compared the process to a “road full of IEDs”—you’re so focused on sidestepping immediate danger that you don’t realize you’re headed deeper into hostile territory.

Kelly was visiting his family in Florida when he first tried taking Suboxone several years ago, hoping to avoid using heroin around his son. While the medication reduces his opioid cravings, he said it makes him feel dull and doesn’t do much for the persistent pain he still experiences from the roofing accident. That demands something stronger.

Meanwhile, heroin and fentanyl are readily available for purchase in his neighborhood, which has suffered from rising poverty and population loss in recent decades.

“You can’t blame it on your surroundings, but they don’t make it any easier,” he said.

Building trust

EVERY Monday morning, the Spot van parks in west Baltimore’s Upton

pride in maintaining a neat appearance. After a career in construction, he still dresses almost exclusively in canvas work pants and sneakers. But on the inside, he struggles to keep his addiction in check and stave off a growing feeling of hopelessness. He recently returned to the Spot van after some missed appointments.

“They care,” he said. “So I keep coming back.”

Program staff are acutely aware of the daily hurdles facing Jackson and other participants. Sometimes it seems like a miracle when they show up at all.

community, a historic Black cultural hub once known for its renowned jazz clubs, upscale shops and vibrant nightlife.

Now a shadow of its former self, the neighborhood is filled with visible impacts of the local drug trade: dealers doing business outside vacant buildings, their customers nodding drowsily on public benches, s tumbling through alleys and trying to scrounge up enough money to make it through another day.

Baltimore police cruisers routinely patrol the area, part of the city’s crime-fighting strategy to increase law enforcement presence in communities plagued by gun violence.

Less than a block from the van’s parking spot, a tangle of deflated balloons commemorates a January shootout that wounded three people and killed two, including a young mother who was waiting to pick up a takeout order when she and her children were caught in the gunfire.

Lenwood Johnson, 62, often visits the location.

After about three months on buprenorphine, Johnson said he has significantly reduced his opioid use, keeping more money in his pockets and allowing him to stay sober for family visits and other important occasions. He also is taking fewer risks with fentanyl because he’s not desperate to maintain a consistent supply.

An ex-correctional officer at Baltimore’s jail, Johnson said he started using opioids decades earlier when an arrest for marijuana possession derailed his budding law enforcement career.

The Spot program, which launched in 2018, operates under a partnership between the Baltimore City Health Department and the Johns Hopkins University School of Medicine. It typically serves about 900 patients annually. An estimated 40 percent have a recent history of intravenous drug use, almost 75 percent are Black and more than half are experiencing homelessness or housing instability.

“The population we’re serving, many of these people are profoundly underserved and mistrustful of the health system,” said Dr. Kathleen Page, a Johns Hopkins medical school professor who helped launch the program. “Building trust is a big part of it.”

Darryl Jackson Sr., who enrolled last year along with his adult son, said the clinic sometimes feels like the only source of stability in his life. He recently had to leave his last apartment and has been researching rental assistance programs, which are often mired in bureaucracy and hobbled by impossibly long waitlists.

Jackson, 58, said he can’t tolerate shelter environments because he’s a stickler for cleanliness. He takes

“I cannot imagine living a day in the shoes of my patients,” Dr. Amanda Rosecrans, clinical chief, said in a March interview. She had received news earlier that morning about a patient’s recent death, which is a tragically common occurrence as overdoses and gun violence plague Baltimore’s poorest communities.

For this vulnerable population, stable housing is the single most important piece of the recovery equation, said Bobby Harris, the program’s medical director.

“If folks need housing, how are you supposed to focus on anything else when you don’t feel safe?” he said.

When the big picture seems overwhelming, he focuses on treating the patients in front of him.

Islah Hadith, 45, said her life changed drastically after she discovered the clinic in 2019.

That was several years after she broke her ankle playing basketball and was prescribed Percocet. When her refills ran out, she went into withdrawal and started buying pills off the street. Despite working and raising children, she said she was living in a haze, not fully present.

Hadith said she arrived at the Spot van nervous and ashamed, but left feeling hopeful.

She started taking buprenorphine and stopped using other opioids. After about four years on the medication, she recently began reducing her doses to wean herself off. She also sought therapy and severed ties with people and places that could jeopardize her progress.

“It doesn’t get easier, but it does get better,” she said.

One step at a time

WHEN Kelly showed up to the clinic last month, his infected leg had taken a serious turn for the worse. He could barely walk, hobbling down the sidewalk and up the van’s steps, leaning heavily on a metal cane. His shoulders hunched, as if his body would soon collapse under the crushing weight of addiction.

“It hurts like hell,” he said, smiling through the pain.

Despite this latest setback, he was clear-eyed and upbeat, having recently returned from visiting family in Florida. The trip gave him a break from Baltimore and left him feeling somewhat more positive. He envisioned moving out of the city, maybe to South Carolina, where he could focus on work and start a new chapter.

Kelly said he’s grateful for the support system he has, though he worries about becoming a burden. His addiction still threatens some of his most precious relationships.

He thought about what it would look like to truly prioritize his health: What if he started taking the Suboxone more consistently and stopped muddying the waters with illicit drugs? What if he could finally give his family the support and stability they deserve?

He planned to check into the hospital later that afternoon and get his leg checked. But first, he was headed to the pharmacy to fill his prescription. One step at a time.

BALTIMORE—Anthony Kelly

trudged through southwest Baltimore, each labored footstep a reminder of the roofing accident that left him with chronic pain and a raging opioid addiction several years after he returned home from serving in the Marines.

ANTHONY KELLY sits in his living room after checking his leg, which is suffering from tendonitis after he suffered a fall from his bicycle on May 2, 2023, in Baltimore. Kelly has been using help from the Baltimore City Health Department’s harm reduction program RV, which is used to address the opioid crisis, which includes expanding access to medication assisted treatment by deploying a team of medical staff to neighborhoods with high rates of substance abuse and offering buprenorphine prescriptions. AP/JULIO CORTEZ

CHINA-TAIWAN COLLABORATION

DJOKO CLINCHES RECORD NO. 23 MAJOR CROWN

PARIS—Novak Djokovic

made clear for years this was his goal. What drove him. What inspired him.

The biggest titles from his sport’s biggest stages were Djokovic’s main aim and now he finally stands alone—ahead of Rafael Nadal, ahead of Roger Federer, ahead of every man

Palanas pulls rug from under Baisa, takes on Fuertes in tennis tilt final

DAVE PALANAS and Stephen Fuertes toppled seeded opponents to arrange a championship clash for the Palawan Pawnshop-Palawan Express Pera

Padala (PPS-PEPP) Malita juniors tennis crown in Davao Occidental on Monday.

Palanas made a mark with a shock

6-2, 7-6(7) upset of third seed Brice Baisa in the semifinals while Fuertes toppled top seed Vince Serna in the quarterfinals then routed No. 4 Randy Pausanos, 6-1, 6-1, to advance to the final.

The eighth-ranked Palanas rode the momentum of his victories over Jolimar Prado, 5-3, 4-1, and Yasasn Al Anazi, 5-3, 4-1, as he dominated the No. 3 Baisa in the opening frame then survived a tense-filled second set skirmish to earn a crack at the boys’ title in the Group A tournament, the biggest event staged in Davao region held side by side with the men’s and women’s Open singles hosted by Mayor Bradly Bautista.

B aisa, from Puerto Princesa City, came into the event exuding confidence following a sweep of the 16- and 18-U titles in Iloilo, Roxas City, Bacolod, Imus, Cainta, Rizal and Apalit, Pampanga legs of the country’s longest-running talentsearch put up by Palawan Pawnshop president and CEO Bobby Castro.

A fter a bye and a walkover, Baisa trounced Gene Espinoza, 4-0, 5-4(0) in the Last 8 but struggled in the early going against Palanas and lost in a duel of nerves to the Ipil, Zamboanga Sibugay native in the second set tiebreaker.

Fuertes, meanwhile, repelled

Raphael Duay, 5-3, 4-2, then held off Serna, 4-2, 4-2, before the rising Digos City star overpowered Pausanos with his superb all-around game to reach the finals of the event held in coordination with Davao Occidental Governor and tennis buff Franklin Bautista.

I n girls’ play, General Santos City’s Angelie Ripdos surprised top seed AJ Acabo, 4-2, 4-1, in the quarters then turned back Juliana Carvajal, 6-0, 6-4, to arrange a showdown with No. 4 Chelsea Bernaldez from Tagum City, who posted a shutout win over Mae Gorre and trounced Faith Lazaro, 6-3, 6-1, to advance to the finals of the tournament backed by ProtekTODO, PalawanPay, the Unified Tennis Philippines and Universal Tennis Rating.

Capistrano: Breaking 6m ceiling allows EJ to solidify bright career

By Josef Ramos

IX meters was a barrier

Ernest John “EJ” Obiena was expected to break given his skills and dedication to his sport and that there’s more to expect from the world No. 3 in men’s pole

We believe that he can do better in the coming months and beyond knowing what he’s capable as a world class athlete,” said Terry Capistrano, president of the Philippine Athletics Track and Field Association (PATAFA).

who ever has swung a racket.

I f Djokovic could wait this long to hold this record, he certainly could wait for the half-hour or so it took to straighten out his strokes in the French Open final.

A nd so, after a bit of a shaky start in thick, humid air and under foreboding clouds Sunday, he imposed himself. The opponent at Court Philippe Chatrier, Casper Ruud, never really stood a serious chance after that.

D jokovic earned his men’srecord 23rd Grand Slam singles championship, breaking a tie with Nadal and moving three in front of the retired Federer, with a 7-6 (1), 6-3, 7-5 victory over Ruud that was not in doubt for most of its three hours and 13 minutes.

D jokovic puts this one alongside the French Open titles he earned in 2016 and 2021, making him the only man with at least three from each major. He won his very first at the 2008 Australian Open and now possesses a total of 10 trophies from there, seven from Wimbledon and three from the US Open.

that there is history on the line, but I try to focus my attention and my thoughts into preparing for this match in the best way possible to win, like any other match,” Djokovic said, wearing a red jacket with “23” stitched on the chest. “Of course I would lie if I say that I didn’t think about the finish line that is right there and that one more match is needed to win a trophy—a historic one.”

A lso worth noting: He again is halfway to a calendar-year Grand Slam—winning all four majors in one season—something no man has achieved since Rod Laver in 1969.

Djokovic came close in 2021, when he won the Australian Open, French Open and Wimbledon and made it all the way to the title match at the US Open before losing to Daniil Medvedev.

Djokovic will resume that pursuit at Wimbledon, which begins on the grass of the All England Club on July 3.

He has this software in his head that he can switch (on) when a Grand Slam comes,” said his coach, Goran Ivanisevic. “The day we arrived here, he was better, he was more motivated, he

was more hungry. Every day, he played better and better.”

E ntering the 2011 season, this is how the Slam count looked: 16 for Federer, nine for Nadal, one for Djokovic.

Pretty decent 12 years, I must say, for me,” Djokovic said with a smile.

The climb began with a trio that year and accelerated lately: He has clutched the trophy at 11 of the last 20 Slams, a remarkable run made even more so when considering that he did not participate in two majors during that span because he did not get vaccinated against Covid-19. Djokovic was deported in January 2021 before the Australian Open, and he was not allowed to fly to the United States ahead of last year’s US Open under a rule that since has been lifted.

Getting to 23 not only sets the mark for men, but it also lets Djokovic equal Serena Williams, who wrapped up her career last year, for the most by anyone in the Open era, which began in 1968. Margaret Court won some of her all-time record of 24 Slam trophies in the amateur era.

At 20 days past his 36th birthday, the Serb is the oldest singles champion at Roland Garros, considered the most grueling of the majors because of the lengthy, grinding points required by the red clay, which is slower than the grass or hard courts underfoot elsewhere.

Nadal’s 22nd major arrived in Paris a year ago, two days after he turned 36. He has been sidelined since January by a hip injury and had arthroscopic surgery on June 2. AP

Dutch, Japanese conquer odds in Subic Ironman

THE Netherland’s Eric van der Linden and Japan’s Chigusa Yamashita battled through choppy waters, strong winds and wet conditions to rule the Century Tuna Ironman Philippines in Subic. an der Linden, 49, from Schagen, North Holland, clocked nine hours, 56

minutes and 20 seconds over the energy-sapping 3.8-km swim, 180-km bike and 42-km run race as he held off South Africa’s Michael Kramer to secure the championship which he put into motion with a 1:01:19 effort in the opening leg in rough waters.

The 2000 Sydney Olympics veteran then flashed superb riding skills with a best time of 5:04:21 then withstood the rigors of the grueling marathon to win by four minutes despite a 3:44:03 finish under a drizzle.

K ramer, who timed 1:01:36 in swim and 5:22:21 in bike, closed out in 3:31:00 but fell short with a total clocking of 10:00:45 in one of the more exacting physical experiences that athletes can choose to put themselves through with the last entry checking in at 11:53 p.m.

DEFTAC jiu-jitsu bets rule AJP Tour-PHL with 48

DEFTAC-RIBEIRO JJ, Japanese Carpe Diem Brazilian JJ and USA’s Checkmat reigned supreme in the Abu Dhabi Jiujitsu

Pro (AJP) Tour Philippines-National Jiujitsu Championships 2023 held recently at the Cuneta Astrodome in Pasay City.

DEFTAC bagged a total of 48 gold, 40 silvers and eight bronze medals for 55,250 points to clinch the overall title.

C arpe Diem Brazilian Jiujitsu got 12 golds, 12 silvers and 13 bronze medals for 21850 points to wind up second and Checkmat hauled 12 golds, eight silvers and four bronzes to finish third with 15350.

A tos, also a US team, harvested seven golds, five silvers and two bronze medals for fourth place with 9100 and another team fielded by Carpe Diem picked up six golds, three silvers and one bronze for fifth with 6900.

“ Their performance is a reflection of their hard work and I’m very, very happy with the performances and results they’ve shown,” said DEFTAC-RIBEIRO JJ founder and coach Alvin Aguilar, also the president of Universal

Reality Combat Championship.

A guilar is acknowledged as the first Filipino Brazilian jiujitsu black belter.

O ne of the highlights of the oneday tournament that lured 23 clubs from 16 countries—including the US, Japan, South Korea, Singapore and Brazil—was the fight between South Korean Shin Yuchan and Filipino Allan Co.

Yuchan of Carpe Diem forced Co to submission in under a minute to move to the men’s gi black professional 120-kg finals, but he couldn’t sustain his momentum and lost to American Antonio Suazo of Six Blades Jiujitsu of US  also via submission.

DEFTAC also won 14 gold medals in boys’ gi, 10 in girls gi, nine in men’s gi, five in youth men’s gi, three in

Hong Kong’s Richard Hall placed third in 10:14:18, Italy’s Giuseppe Solla of Italy timed 10:15:32 for fourth while Jet Ramos emerged as the top Filipino finisher at fifth with a 10:20:34 clocking in the event organized by The Ironman Group/ Sunrise Events Inc.

Yamashita, on the other hand, built an 8-minute lead over compatriot Ayaka Suzuki with a 1:11:41 time in the water and, like van der Linden, stamped her class on the sadddle in 5:55:52 before slowing down in the run with 4:11:17.

The 34-year-old Yamashita finished with an 11:30:02 effort, 14 minutes ahead of Suzuki, who clocked 1:19:26 in swim and struggled in bike (6:19:22) before charging back with a division best 3:51:46 in run.

gold medals

girls’ youth no-gi, three in men’s nogi, two in boy’s no-gi and one each in men’s gi open and women’s gi.

A guilar’s sons Alonso “Lukie” and Lucho Aguilar also booked victories in the tournament attended by 350 competitors.

Alonso topped the youth men’s gi blue 55-kg class while the younger brother Lucho ruled the boys’ gi teen orange green 62-kg event.

“And yes, we at PATAFA are extremely elated with EJ’s accomplishment,” he added. biena joined the elite 6-meter club of men’s pole vault after clearing the height in one attempt at the Bergen Jump Challenge on Saturday in Bruggen, Norway. merican KC Lightfoot also cleared 6 meters—his second time in 10 days—but made it in his second attempt to settle for the silver medal. Another American, Sam Kendricks, bagged bronze biena is now the 28th member of the elite 6-meter club led by Sweden’s Armand Duplantis with his world record 6.21 meters.

We knew that sooner or later, EJ will join that club,” Capistrano said. “And he did it sooner.”

O biena became world No. 3 after he clinched bronze at the world championships last year in Eugene, Oregon, with 5.94 meters. That stood as the Asian record until last Saturday.

C apistrano said Obiena will have a long and illustrious pole vaulting career as he trains like a spartan under legendary Ukrainian coach Vitaly Petrov.

We know he’s capable of doing better because of his continuous training and competition abroad under veteran coach Vitaly Petrov— plus his perseverance,” Capistrano said. “He’s certainly an extremely gifted athlete.”

C apistrano said the PATAFA is grateful to the Philippine Sports Commission chaired by Richard Bachmann and the Philippine Olympic Committee headed by Rep. Abraham “Bambol” Tolentino for their unconditional support to Obiena.

O biena, however, achieved the feat ahead of the start of the qualifying window for the Paris 2024 Olympics on July 1.

B ut he has several chances to make the Olympic grade of 5.82 meters, including at the world championships in Antwerp, Belgium, next month and at the 19th Asian Games in Hangzhou, China, in September.

Forum on FIBA 2023 World Cup

MAJOR updates on the country’s preparations for its co-hosting of the FIBA World Cup will be solely tackled in a special Philippine Sportswriters Association (PSA) Forum on Tuesday at the Conference Hall of the Rizal Memorial Sports Complex. A ppearing in the 10:30 a.m. session to discuss the local organization and other related matters are Deputy Event Director Erika Dy and Joint Management Committee head John Lucas.

T he Philippines is the lead of the World Cup—set from August 25 to September 10—with Japan and Indonesia as co-hosts.

T he weekly sports program is presented by San Miguel Corp., Milo, Philippine Sports Commission, Philippine Olympic Committee and the Philippine Amusement and Gaming Corp.

The Forum is livestreamed via the PSA Facebook page fb.com/PhilippineSportswritersAssociation and aired on a delayed basis over Radyo Pilipinas 2, which also shares it on its official Facebook page.

Taiwan’s Hsieh Su-Wei kiss the women’s doubles trophy at the French Open which they won at the expense of Canada’s Leylah Fernandez and the US’s Taylor Townsend at Roland Garros in Paris Sunday. AP

ERIC VAN DER LINDEN and Chigusa Yamashita are a class act.