BusinessMirror June 13, 2024

By Reine Juvierre S. Alberto & Jovee Marie N. Dela Cruz @joveemarie

THE national government could lose P20 billion in potential revenues annually if Philippine Offshore Gaming Operators (Pogos) are banned in the country, and a ban could simply prompt operators to go underground, the state gaming regulator said.

The warning about the fallout—a huge revenue loss that does not necessarily banish the serious peace and order problem spawned by dozens of illegal operators linked to foreign criminal gangs—came amid rising calls by lawmakers for a full, immediate ban as revelations of crimes are reported in congressional inquiries.

A House of Representatives leader, though, had pointed out to his peers the big strides made by the Philippine Amusement and Gaming Corporation’s (Pagcor) in modernizing operations, resulting in: boosted revenue, weeding out of errant operators, and a shift in the worker demographics from predominantly Chinese to mostly local hires.

Pagcor data received by Ways and Means Committee Chairman Joey Salceda’s office showed collections from licensees in 2023 increased to P5.1 billion from just 87 licensees, compared to P2.99 billion from 158 licensees in the previous year. This amount is second only to the 2019 collections, the first full year of legalized IGL operations, when Pagcor collected around P7.96 billion from 298 licensees.

According to Pagcor Chairman and Chief Executive Officer Alejandro H. Tengco, the government will lose revenues from banning Internet Gaming Licensees (IGLs), the new name being used for Pogos, without

any guarantee that the illegal activities would stop.

“If this happens, it would become harder for us to monitor them, and the number of illegal operators would grow and pose a bigger headache to our law enforcement authorities,” Tengco said in a statement late Tuesday. Earlier, Tengco said that legitimate and licensed Pogos generate funds for the government, contributing about P5 billion to Pagcor's gross revenues in 2023.

Several senators and congressmen are pushing for a total ban on Pogos in the Philippines after some operations that were raided in Central Luzon, including the celebrated case of the Bamban, Tarlac hub enabled by its Mayor Alice Guo, were linked to human trafficking, torture and illegal detention, cyber fraud and money laundering.

Tengco said that it is likely for banned legitimate operators to hide and vanish, bringing their gaming equipment, such as computers and machines, and will continue to operate without government monitoring and supervision.

“We have no guarantee that, once we ban the legitimate operators, they will simply close shop and return to their countries of origin where they are likely to face prosecution and jail, or worse,” Tengco added. In the Philippines, Pogos will go underground and continue operating or they could join those engaged in illegal activities, such as scamming, hacking and other cybercrimes. This could pose a bigger problem to the government, Tengco said.

Respect Congress TENGCO, however, said Pagcor will

IN celebration of the 2024 Araw ng Kalayaan and the 125th Anniversary of the First Philippine Republic of 1899, PHLPost has issued the “Longest Stamps” in a bid for the Guinness World Records.

Considered to be the Philippines’s longest Postage Stamps, the sheetlet strip of three measures 200mm x 35mm, which is the first of its kind issued by PHLPost.

Entitled “Philippines: First Republic in Asia,” this remarkable stamp vividly illustrates the Philippines nationhood from the historic proclamation of Philippine Independence on June 12, 1898

to the declaration of the First Philippine Republic in 1901.

The commemorative stamps feature historical vignettes that transpired from the declaration of Philippine Independence in 1898, the arrival of Aguinaldo in Malolos Bulacan, the inauguration of the first Philippine Republic at the Barasoain Church in 1899, the Philippine American War, Aguinaldo’s odyssey in Northern Luzon with women nursing the wounded, Apolinario Mabini in Pangasinan and Aguinaldo’s capture in Isabela but others continued to fight for liberty in 1901.

Inside the stamps are the photos of the Philippine Revolutionary Government Postage Stamps and the Philippine Revolutionary Government Postage and Telegraph Registration Stamps issued during that historic era.

PHLPost immortalized this legacy with a unique stamp underscoring the Philippines as a beacon of liberty, democracy and republicanism in Asia. The stamps continue to be the source of inspiration, courage and patriotism among Filipinos.

See “PHLPost,” A2

BAN CITED

commemoration of the 126th Independence Day after the Armed Forces reported that Chinese Peoples Liberation Army Navy held for the first time drills within the country’s Exclusive Economic Zone last Tuesday, raising security concerns.

“And as inheritors of the freedom we enjoy today, it is the duty of each one of us to protect it and ensure that we are never again swayed by the threat of intimidation, conquest and oppression,” Marcos said in Filipino, without referring to China.

Marcos stressed Filipinos are capable of facing current challenges through their courage and unity and other traits being promoted under the Bagong Pilipinas (New Philippines) campaign of his administration.

“We are the face of the New Philippines. In our own way, we can be the heroes of our modern age. Let’s use our wisdom and diligence in every task and the most important thing, be humble, loving the people and honorable at all times,” he said.

Launched in January, Bagong Pilipinas (BP) aims to transform the economy and governance by promoting positive Filipino traits.

Under Memorandum Circular 52, national government agencies and instrumentalities were directed, and local governments were encouraged to integrate the BP hymn and pledge during flag raising ceremonies.

During the celebration of the 126th Independence Day, the Marcos administration broke tradition with the inclusion of the recital of the BP hymn and pledge for the first time in the flag-raising and wreath-laying ceremony before the Rizal Monument at the Rizal Park.

See “Freedom,”

By Nonnie Pelayo

CELEBRATING FREEDOM AT LANDMARK SHRINES The 126th Independence Day celebrations on Wednesday, June 12, 2024, featured key events at two historic sites. At the Aguinaldo Shrine in Kawit, Cavite, the flag-raising ceremony was led by Senator Ramon “Bong” Revilla Jr., Cavite Governor Jonvic Remulla, Kawit Mayor Angelo Emilio Aguinaldo, Cavite 2nd District Rep. Lani Mercado Revilla, Cavite 1st District Rep. Jolo Revilla, and other government officials. The ancestral home of Emilio Aguinaldo, the country’s first President, was the site of the Philippine Declaration of Independence from Spain on June 12, 1898. Meanwhile, in San Juan City, Mayor Francis Zamora and Chief Justice Alexander G. Gesmundo led the flag-raising and wreath-laying activities at the Pinaglabanan Shrine, the site of the Battle of San Juan del Monte, which marked the beginning of the Philippine Revolution against Spanish colonial rule. ROY DOMINGO AND NONOY LACZA

BARMM can be template for ending conflict–papal nuncio

By Samuel P. Medenilla

@sam_medenilla

APOSTOLIC Nuncio to the Philippines Charles Brown said the government’s peaceful resolution of the separatist movements in Mindanao can become a model in ending prevailing international conflicts in an increasingly “polarized” world.

In his speech during the Vin D’honneur in celebration of Philippine Independence Day in Malacañang last Wednesday, the concurrent dean of Philippine Diplomatic Corp lauded the progress in the implementation of the Comprehensive Agreement on the Bangsamoro (CAB).

Marcos together with the First Family and most of his Cabinet members attended the Independence Day event.

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(ROTC) training, which he is advocating, should not be seen as gearing for war but for public service.

Speaker in Malolos

respect the decision of the Congress on the matter of banning Pogos if they believe it will solve the problems in the country.

“However, for us, the real problem are the criminal syndicates masquerading as Pogos. It is only through intensified law enforcement and the cooperation of all sectors that we would be able to address the problem of criminality,” Tengco said.

The diplomat hopes the CAB will inspire other countries with prevailing international conflicts to engage in dialogue.

“Engaging with others, and particularly those with whom we profoundly disagree, is the surest way of avoiding the catastrophe of escalation,” Brown said.

Brown said the Diplomatic Corps is ready to extend its support to the Philippine government in the conduct of the first-ever BARMM elections next year.

“Let us all do everything we possibly can to ensure that the hopes of the

Signed in 2014, the peace agreement, the result of dialogue between the government and Islamic separatists, ended the long years of armed conflict in Mindanao and led to the creation of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Earlier, Tengco said the agency is open to having the IGLs continue operations in the country if they are properly monitored and regulated.

Tengco said the number of Pogos in the country has decreased by 30 percent, or 75 licensees, from the 295 Pogo licensees since 2019, adding that criminal activities have been reduced as well.

Earlier, Finance Secretary Ralph G. Recto said he has “no objection”

people of the Bangsamoro Autonomous Region and Muslim Mindanao will not be disappointed,” he said.

International order

PRESIDENT Ferdinand R. Marcos

Jr. welcomed Brown’s recognition of CAB and reiterated that engaging in dialogue is part of the core principle of Philippine foreign policy.

“Our foreign policy is grounded on the continuing promotion and work for peace, and the continuing promotion and work for our national interest,” Marcos said in his speech at the Vin D’honneur.

“On the global stage, we have taken positions in support of the rule of law and of the rules-based international order, grounded on the principles laid out in the UN [United

to banning Pogos in the country and would advise President Ferdinand R. Marcos Jr. to order a ban “at the appropriate time” if he was asked to recommend such.

Salceda: Just enforce law

HOUSE Ways and Means Chairman Salceda had cited huge strides by Pagcor in controlling and regulating the offshore gaming sector, highlighting its transition into a more regulated and contributing part of the economy.

Salceda said: “As far as a supposed ‘phase-out’ is concerned, that’s the

Nations] Charter and multilateral conventions,” he added.

The chief executive made the remark as the country continues to use diplomacy to oppose China’s deployment of ships in parts of the South China Sea within the Philippine Exclusive Economic zone.

Despite the said prevailing tension, Chinese Ambassador to the Philippines Huang Xilian joined other members of the diplomatic corps at the Vin D’honneur.

Also at the event was Russian Ambassador to the Philippines Marat Pavlov. The Philippines had earlier expressed its support for Ukraine, which Russia invaded in 2022, an action it describes as a necessary military operation to stop inroads by western powers using Ukraine.

kind of phase-out I fully support: You phase out the bad and mediocre licensees. You don’t phase the whole industry out. You enforce the law.”

He also noted the shift in workforce demographics within the Pogo sector. At its peak, there were as many as 200,000 Chinese workers involved with POGOs. Now, only about 8,500 are directly hired Chinese workers. Of the approximately 100,000 total direct or indirect hires, about 65,000 are Filipinos. Of the 60,000 direct hires, 25,000 are Filipinos, with Vietnamese hires now outnumbering Chinese hires at about 11,000.

Pagcor…

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Pampanga; and a casino resort in Mactan, Cebu.

In addition, two gaming-related complexes are planned Boracay, Tengco said. One is being developed by Andrew Tan’s Global Estate Resorts Inc.

Tan is linked to Alliance Global Group Inc., a company that has investment trough Travellers International Hotel Group Inc. in the Newport World Resorts in Manila, GGRAsia Newsletter said.

The article also said that the second project in Boracay “will be a 65-35 [percent] joint venture between Pagcor and the operator.” Tengco did not provide more details.

He added that he had received assurances regarding the opening of the casino hotel at Westside City. The gaming property is being developed by listed Suntrust Resort Holdings Inc, a unit of LET Group Holdings Ltd, using the casino licence of Travellers International.

“I am very confident that the project will open, primarily because they’re using Travellers’ licence,” stated the top regulator.

GGRAsia said the Philippine gaming sector—including non-casino operations—produced gross gaming revenue (GGR) of P81.70 billion (US$1.42 billion) in the first quarter of 2024, up 18.5 percent from the first quarter of 2013.

The e-Games segment brought in P22.5 billion in GGR for the three months to March 31, or “more than six times” the P3.5 billion recorded in the opening quarter of 2023.

The country’s licensed commercialsector casinos remained the “biggest contributor” to first-quarter GGR, at P49.7 billion, but the figure was down 8.2 percent year-on-year, according to official data.

Tengco said: “While the [GGR] numbers in the land-based operations have plateaued,” the trajectory in the electronic gaming sector “has been unprecedented.”

“So, hopefully, the growth in the electronic gaming segment’s GGR will balance the decline in the land-based sector,” he told GGRAsia. “It might even offset, or more than offset, such a decline.”

PHLPost postage stamps will be available to the public at the Manila Central Post Office compound in Lawton, Manila on June 12, 2024. The beauty, uniqueness and special significance of commemorative stamps continue

Senators: challenges in varying ways

MEANWHILE , senators shared their insights on the significance of the country’s commemoration of its 1898 declaration of independence, with exhortations to address decisively the challenges posed to national sovereignty, food security and peace and order, as well as to those that erode democratic institutions.

As expected, they all alluded in varying ways to the challenges posed by continuing foreign encroachments into the country’s maritime assets, given reports on the eve of Independence Day that a total of 146 Chinese ships are now swarming the West Philippine Sea.

In a statement, Sen. Grace Poe noted that for many years, “our independence has never been challenged the way it is being tested now—with aggressions in our seas; illegal POGOs creeping into the economy and perhaps, politics; and the nonchalance of some to wrongdoings, injustice and indigence.”

The country, she said, has “systems of government, laws and the Constitution in place for a functioning democracy. But we need the resolve, efficiency, and courage to do things right. Let us never forget: The independence we enjoy now must always be protected and defended. There can be no true progress if we yield our rights and dignity as a nation.”

Senate President Pro Tempore Jinggoy Estrada, speaking in Filipino, urged Filipinos “to show the world their unity and determination in defending their rights, patrimony and territory.”

Sen. Risa Hontiveros, meanwhile, noted relentless Chinese incursions into the West Philippine Sea, and bullying of fishermen, the Coast Guard and Navy. She lauded the courage of the latter in risking their lives patrolling Philippine maritime jurisdiction.

Also threats to security are the online gaming operators loosely dubbed “Pogo” which have become the avenue of criminals. She reiterated her call to ban Philippine Online Gaming Operators.

At the same time, Hontiveros reminded that independence does not simply mean the the absence of an invader. “Many Filipinos are still trapped in poverty,” she said, speaking in Filipino.

She said the nation needs “equal opportunities for all, protection for women and children, sustainable livelihood and jobs for breadwinners, and lower prices of basic goods.”

Sen. Robin Padilla said, for his part, that “Action and discipline— like the one learned by the Armed Forces of the Philippines’ new 48 reservists from the Senate—are the keys to achieving freedom from poverty.”

At a program marking Independence Day at the Senate, Padilla also disclosed his wife and children are planning to undergo Basic Citizens Military Course (BCMC), similar to the one undergone by 48 new Navy reservists from the Senate.

“What we are celebrating today is our freedom from foreign rule. But we are not yet free from poverty. I hope for the day we can earn our freedom from poverty,” he said. He reiterated that the BCMC and Reserve Officers Training Corps

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to be a source of fascination among collectors.

PHLPost has printed 9,000 pieces of the strip of three stamps to be sold at P125 each while the official first day cover envelope (size is 25cm x 19cm)

SPEAKER Ferdinand Martin G. Romualdez spoke at the Independence Day celebration at the historic Barasoain Church in Malolos, Bulacan, the birthplace of the first democratic republic in Asia.

The historic church is a witness to the founding of the 1898 Congress, which held its first session there and where the Malolos Constitution was written.

“Today, we not only honor the heroism of our forefathers but also embrace the challenges they left behind,” Romualdez said.

“Freedom is not just a privilege but a responsibility. As modernday Filipinos, we have the duty to continue the fight for freedom— not only against foreign invaders but also against poverty, corruption, and injustice,” he said.

“Celebrating Independence Day is not just about reflecting on our rich history; it is also an opportunity for us to unite in building a more prosperous and just society. As we move forward towards progress, let us always remember the lessons of the past and the sacrifices of our forefathers,” he added.

Gibo: Heroes’ sacrifice an inspiration THE sacrifice made by Filipino heroes who gained our independence 126 years ago remains a source of inspiration of modernday Filipinos who face challenges to the country’s sovereignty, according to Defense Secretary Gilberto Teodoro Jr.

“Amid new challenges to our independence and sovereignty in these modern times, you can count on your Department of National Defense to ensure a secure future. We draw inspiration from our veterans who sacrificed and served our country. May they serve as the inspiration for our generation of heroes,” he said in his Independence Day message.

Teodoro also said Filipinos must learn from history and thank the heroes who sacrificed their lives for our freedom.

He also stressed the need to fight lies and false information from those who want to divide and conquer us.

PNP’s commitment

PHILIPPINE National Police (PNP) chief Gen. Rommel Francisco Marbil said the service is committed to ensuring the safety and freedom of all Filipino communities nationwide.

“The PNP is dedicated to safeguarding the freedoms we cherish and ensuring the safety and security of our communities. We recognize that a secure and peaceful environment is essential for realizing our aspirations for a prosperous and resilient future. In this light, we continue to uphold the values of service, honor, and justice in our daily duties,” he said. Marbil also called the country’s 126th Independence Day, a historic milestone that honors the courage and sacrifice of our forebears who fought valiantly for the nation’s freedom.

“The PNP stands with the Filipino people in celebrating this momentous occasion under the theme ‘Kalayaan, Kinabukasan, Kasaysayan,’” he added. With Butch Fernandez, Jovee Marie N. Dela Cruz, Rex Anthony Naval

was printed at 400 pieces. Artist Roderick “Derrick” C. Macutay designed the stamps with layout by Jose Antonio A. Jayme of PHLPost. The stamps have an iridescent ink (special embellishment) on all figures.

Palawan’s Joel Reyes now has ₧100,000 on his head

By Samuel P. Medenilla

@sam_medenilla

THE Presidential Anti-Organized Crime Commission (PAOCC) has offered P100,000 cash reward for anyone who can provide information that will lead to the arrest of former Palawan governor Joel Reyes. Reyes was the alleged mastermind in the killing of Puerto Princesa City broadcast journalist, Gerardo Valeriano “Doc Gerry” Ortega in 2011. The former governor has been in hiding since last year after the Supreme Court ordered him re-arrested to face trial for the killing of Ortega.

The Presidential Task Force on Media Security (PTFoMS) welcomed the initiative and hope it will lead to the breakthrough in the said case.

Group seeks crackdown on illegal repeaters, cellular signal boosters

TBy Rizal Raoul S. Reyes @brownindio

HE advocacy group Citizen -

Watch on Wednesday asked the National Telecommunications Commission (NTC) to take tough action on sellers of illegal repeaters and signal boosters because these cause network jamming and distort mobile signals in the vicinity.

The group warned that the use of these devices could block cell signals and disrupt critical service during disasters or automated elections, leading to profound repercussions.

interfere with airwaves and mobile signals for other customers.

Meanwhile, cell signal jammers block the signal and prevent anyone from using the service. This is usually used in concert halls or places of worship as well as in high-security areas to prevent disruptions.

Ortega, a staunch critic of the alleged corruption in the Palawan provincial government under Reyes, was killed in Puerto Princesa City on January 4, 2011.

In 2012, Reyes, along with his brother, Mario, the mayor of Coron, fled the country to evade arrest, but was arrested in Thailand in 2015.

Both posted bail in 2018 and both ran for public office in the 2022 elections. Joel Reyes lost in the gubernatorial race.

“In the case of Doc Gerry, Undersecretary [Gilbert] Cruz [PAOCC chief] and I agreed that his killing has already dragged on far too long. Justice has been denied to him and his family far too long,” PTFoMS Executive Director Paul M. Gutierrez said in a statement.

BuCor frees 126 prisoners on Independence Day

A“These so-called boosters claim to enhance weak mobile signals in some areas, yet end up doing greater harm to more people,” said CitizenWatch co-convenor, former Rep. Christopher Belmonte.

“As a result, there are slow or failed connections, dropped calls, voice quality issues, and even loss of cell phone signals.”

As part of their social responsibility, Belmonte also urged telelecommunication companies, e-commerce, and social media platforms to do their part in stopping the proliferation of such devices.

“These devices are easily bought and sold online,” Belmonte added.

“The platforms must realize that the items they are selling are illegal and interfere with the signals of the legitimate Cellular Mobile Telephone Service [CMTS] operators.”

Illegal repeaters are indoor or outdoor antennas and wireless adapters that boost network coverage. They

On some occasions, Belmonte pointed out that even the land

lords or homeowners themselves are known to install the illegal devices with the notion that it would help boost network signals.

“A few persons may benefit, but in the end, it is all the other users in the vicinity of

Speaker to meet with Senate president to discuss executive, legislative priorities

By Jovee Marie N. Dela Cruz @joveemarie

By Joel R. San Juan @jrsanjuan1573

TOTAL of 126 persons deprived of liberty (PDLs) gained their freedom yesterday in time with the celebration of the Philippines’ 126th Independence Day. Bureau of Corrections Director General Gregorio Pio P. Catapang Jr. said the 126 prisoners were from Correctional Institution for Women (CIW) in Mandaluyong City (11); CIW in Mindanao (5); Davao Prison and Penal Farm (22); Iwahig Prison and Penal Farm (1); Leyte Regional Prison (8), New Bilibid Prison (61); Sablayan Prison and Penal Farm (8) and San Ramon Prison and Penal Farm (10).

The PDLs were released either through acquittal, conditional pardon, expiration of maximum sentence, grant of probation or parole.

This latest release of PDLs brings to 14,324 the total number of prisoners freed under the administration of President Marcos. Catapang said the BuCor has been part of Philippine history as the San Ramon Prison in Zamboanga was established on August 21, 1870 by a Royal Decree promulgated in 1869 to be used as detention facility for Moro rebels and recalcitrant political prisoners opposed to the Spanish rule; while the Iwahig Penal Colony formerly Luhit Penal Settlement was established on November 16, 1904 to be used for Filipinos who were fighting the Americans.

The New Bilibid Prison was established in

1935 to accommodate the increasing number of inmates at the old prison in Manila.

“The Spaniards established the San Ramon prison to incarcerate Filipinos who are against Spanish rule, while the Americans established the Iwahig Penal Colony to lock up Filipinos fighting American colonialism, while the Bureau of Prisons, now the Bureau of Corrections, is here to give another chance to Filipinos who commit mistake in their lives,” Catapang said.

The BuCor also promoted 95 BuCor personnel yesterday as part of the agency’s effort to reward personnel who have been good at doing their job and continue to be an asset for the bureau.

At least 13 new non-uniformed personnel also took their oath of office during the Independence Day rites.

Justice Secretary Jesus Crispin Remulla, in a statement, lauded Catapang for the release 126 PDLs as part of BuCor’s initiative to join the nation’s observance of the Philippine independence .

“My sincerest appreciation to the hard work and dedication of Director Catapang for always making a positive impact to our Corrections System,” Remulla said. For the released PDLs, Remulla said: “You overcame the challenges and obstacles to become the better person you are today, may you continue to let your light shine as you embrace life outside prison to serve as an inspiration for the positive transformation of others.”

Teves’s letters to rights groups, Pope imaginary, delaying tactic, says DOJ

THE Department of Justice (DOJ)

branded as “imaginary and a delaying tactic” the letter written by former Negros Oriental congressman and designated terrorist Arnolfo “Arnie” Teves Jr. pleading for protection from various human-rights organizations and to Pope Francis against efforts by the government to bring him back to the Philippines.

In a statement quoting Justice Secretary Jesus Crispin Remulla, the DOJ again urged Teves to just face the criminal charges filed against him before the Philippine courts.

“Instead of dilly dallying things, Teves should just face the court of law and answer the charges fair and square,” the DOJ statement read.

“Teves is a designated terrorist and fugitive from justice. He is also facing grave charges such as multiple murder and all of that is a reality [lawyer Ferdinand] Topacio and his client should face. Until then, we cannot recognize anything they say unless they present themselves in court,” it added.

In his letter being circulated in social media, Teves urged the United Nations, Amnesty International, human-rights groups, and Pope Francis to look into his plight “as a victim of political persecution by the current administration.”

“I am being politically persecuted, charged with false accusations, and even presumed guilty before trial. Removed from public office just for dancing on social media, my passport cancelled without due cause and even tagged

as a terrorist,” the letter read. Teves claimed being a critic and opposition to the Marcos administration. In response to this, the DOJ said:”Prove us wrong that you are not merely employing tactics intended to delay or circumvent the Rule of Law by presenting ‘real and existing’ proof that Teves’s life is in danger, otherwise, submit yourselves to Philippine jurisdiction, time is of the essence knowing that there are victims crying for justice.”

Teves is facing trial for murder, frustrated murder and attempted murder in connection with the killing of Negros Oriental Gov. Ruel Degamo and nine others on March 4, 2023.

The Teves, who has been expelled from the House of Representatives, along with several other individuals have also been charged in connection with several killings in Negros Oriental in 2019.

Teves was declared a fugitive from justice due to his failure to return to the country from the United States after the expiration of his travel authority on March 9, 2023. This also led to his ouster as member of the House of Representatives. He is now in Timor-Leste seeking political asylum while undergoing judicial proceedings in connection with the extradition request of the Philippine government. Teves was arrested and placed in preventive detention last March in Dili

SPEAKER Ferdinand Martin G. Romualdez is set to meet with newly-installed Senate President Francis Escudero on Thursday to discuss the executive and legislative priorities.

Romualdez said the meeting will ensure robust communication between the House of Representatives and the Senate.

During an interview on the sidelines of the 126th Independence Day celebration at Barasoain Church in Bulacan on Wednesday, Romualdez emphasized the significance of the upcoming meeting, aimed at aligning the legislative agenda of both chambers.

He emphasized that the House has

Divorce bill now in Senate’s hands

THE absolute divorce bill, House Bill 9349, titled “An Act Reinstituting Absolute Divorce as an Alternative Mode for the Dissolution of Marriage,” that was approved by the House of Representatives, has been officially transmitted to the Senate.

This was confirmed in a letter dated June 10, 2024, from House Secretary General Reginald S. Velasco to Senate President Francis G. Escudero.

The transmittal follows the request of Albay Rep. Edcel C. Lagman, the principal author of the divorce bill.

In a letter dated May 28, 2024, to Velasco, Lagman urged the immediate transmission of the approved bill to the Senate, in accordance with the unanimous directive of the House.

Lagman said this expedited transmission means that the bill will not await plenary action by the House when sessions resume on July 22, 2024, as previously indicated by Velasco.

The bill provides limited grounds and well-defined judicial procedures for divorce and aims “to save children from the pain, stress, and agony brought about by their parents’ marital clashes or irreconcilable differences, as well as grant the divorced spouses the right to marry again for another chance at marital bliss.”

Under the bill, troubled couples may file a petition for absolute divorce using the following grounds: 1) legal separation under Article 55 of the Family Code, as modified; 2) annulment of marriage under Article 45 of the Family Code, as modified; 3) separation of the spouses in fact for at least five years at the time the petition for absolute divorce is filed, and reconciliation is highly improbable; 4) psychological incapacity as provided in Article 36 of the Family Code; 5) irreconcilable differences; and 6) domestic or marital abuse to include acts under Republic Act 9262, or the Violence Against Women and Their Children Act of 2004. Jovee Marie N. dela Cruz

already passed all the priority measures set by President Marcos, particularly those outlined in his second State of the Nation Address (Sona) and the LegislativeExecutive Development Advisory Council (Ledac).

“Tomorrow [Thursday], we will have a meeting to discuss our priority legislative agenda,” Romualdez, said.

“In the House of Representatives, we have completed and passed all the priority measures set by our esteemed President, especially the Sona and Ledac measures. However, with the new Senate leadership, there might be new priorities to consider, and we are open to hearing those,” he added.

Romualdez stressed the importance of cooperation between the House and the Senate for the successful implementation of the administrations programs and reforms.

He noted that while the House has made significant legislative achievements, it is crucial for both chambers to be aligned in their goals. The legislature is currently in recess after adjourning the second regular session of the 19th Congress on May 22. It will resume for the third regular session on July 22, during which President Marcos will deliver his third Sona.

FORMER Palawan governor Joel Reyes

Govt invites Singapore’s arms maker for PPP, MRO projects

THE Philippines is discussing potential investments from, and collaboration with, a top Singaporean company involved in arms manufacturing as well as aerospace and maintenance, repair and overhaul (MRO) and smart city initiatives.

Trade Secretary Fred Pascual met with Vincent Chong, ST Engineering’s Group President and Chief Executive Officer, to discuss the potential entry of the company, the world’s number 61 arms maker according to the Stockholm Peace Research Institute.

Held at ST Engineering’s headquarters, the discussion centered on the importance of public private partnerships in driving innovation and infrastructure development in the Philippines.

“We are actively seeking stra -

tegic partnerships to enhance our technological capabilities and infrastructure projects. ST Engineering’s extensive experience makes them an ideal partner for the Philippines’ strategic infrastructure agenda,” Pascual said. The aerospace sector, particularly MRO, also emerged as a potential area for collaboration.

“The Philippines, with its growing aviation sector, offers a prime market for ST Engineering’s advanced MRO services,” the DTI chief added. He also mentioned

SECRETARY Fred Pascual

that this collaboration aims to enhance the aviation capabilities of the Philippines, benefiting both countries through shared technology and expertise.

The Philippine delegation also presented the potential for ST Engineering to extend its smart city technologies and offerings to improve urban living conditions and sustainability in the country.

“Through these projects, we aim to integrate sustainable practices with advanced technologies, creating smarter and more sustainable cities prepared for the future,” Pascual added.

The meeting concluded with a

Waste workers seek own magna carta

RBy Rizal Raoul S. Reyes @brownindio

ECOGNIZING the indispensable work of waste workers and waste pickers especially in these times of climate crisis and global warming, the newly established Philippine National Waste Workers Alliance (PNWWA) on Tuesday urged lawmakers to enact a Magna Carta for Waste Workers to secure vital legislative protection and address the social and economic challenges they face daily.

“We are calling for, among others, just compensation and social benefits and protection because we provide essential services to society. We are as deserving of such benefits and protection as any other worker, perhaps even more so. Without us, society will not function efficiently,” said Aloja Santos, Dumaguete Women Waste

Workers Association (DWWWA) president and PNWWA founding president in a press briefing held in Diliman, Quezon City. Organized in February 2024, PNWWA is a coalition of 12 waste worker organizations representing over a thousand members all over the country. Their unified voice underscores the need for legislative action to improve the working conditions and safeguard the rights of waste workers and waste pickers nationwide.

In February, during a national consultation with waste workers organized by Mother Earth Foundation (MEF) with the support of the Global Alliance for Incinerator Alternatives (GAIA) Asia Pacific, which resulted in the establishment of PNWWA, participants formulated 10 priority demands that must be reflected in a draft Magna Carta. These demands were developed by extensive

consultations with waste workers conducted by MEF over the years.

The demands are:

n Enforcement of Labor Standards;

n Hazard Pay;

n Health Insurance and Services;

n Humane and Safe Working Conditions;

n Job Security; Just Compensation;

n Meaningful Participation in Policy Spaces;

n Right to Organize;

n Social Benefits and Protection and

n Training

After consultation with the stakeholders, the PNWWA presented the proposed Magna Carta to Sen. Loren Legarda. As the author and principal sponsor of the Ecological Solid Waste Management Act, Legarda with her legal team studied the proposed piece of legislation and filed the bill on April 17, 2024. The bill is now pending in the Senate Committee on Labor, Employment and Human Resources Development.

“I acknowledge the validity of the demands of the waste workers—their call for fair treatment, job security, and access to essential services resonates deeply with the principles of justice and equity. These are valid concerns that warrant attention and action, and I am committed to working collaboratively in finding solutions that ensure a just transition for all,” Legarda said in a press statement.

Lawyer Christopher John C.

tour of ST Engineering’s Innosuite, showcasing their cutting-edge innovations in smart mobility, cybersecurity, and urban solutions.

Highlighting the potential collaboration with ST Engineering, the DTI chief stressed, “This partnership could bring significant benefits to both the Philippines and ST Engineering, driving innovation and economic growth in both countries.”

ST Engineering is a global technology, defense, and engineering group with a diverse portfolio of businesses across the aerospace, smart city, defense, and public security segments.

ST Engineering started in 1967 as the Chartered Industries of Singapore to manufacture ammunition.

It is the manufacturer of the Ultimax light machinegun that was used during the attempted coups against then President Aquino and later against the Abu Sayyaf as well as the SAR-21 rifle that is used by the Singapore armed forces.

With Cai Ordinaro

Menguito, managing trustee of the Philippine Earth Justice Center explained the importance of integrating these solutions into the law through Magna Carta as he said, “The purpose of the law is to make the lives of the people better.”

In Metro Manila alone, waste generation contributes 22.2 percent, 24.5 percent, and 26.7 percent to the Philippines’ solid waste in 2010, 2014 and 2020, respectively. The huge solid waste management challenge emphasizes the vital role of waste workers wield towards ensuring a sustainable and waste-free future. From composting to diverting reusable materials away from landfills, they play a vital part in waste management and recycling, offering practical and cost-effective solutions to address both waste and climate issues.

“This moment underscores the importance of recognizing waste workers and waste pickers as frontline environmental defenders. We must prioritize their rights and ensure they have full labor protections under the law. This commitment sets the foundation for collaborative advocacy, fostering a truly inclusive and just transition, said Sonia Mendoza, chairperson of the Mother Earth Foundation.

“The Magna Carta for Waste Workers is a powerful tool in fostering significant change not only in the Philippines but for the whole Southeast Asian region. Waste workers and waste pickers are claiming their rights, making their voices heard and their presence felt,” Mendoza added She stressed that their desire and determination to be part of the process are crucial in the shift towards a sustainable waste management system.

Groups give ‘kolong-kolong’ new look with lead-safe paints

By Jonathan L. Mayuga @jonlmayuga

ECOWASTE Coalition and members of the Bagong Silangan Resource Collectors’ Association (Basirca) based in Quezon City, celebrated Independence Day on Wednesday by giving their “kolong-kolongs” a much-needed facelift, by repainting them with a fresh coat of leadsafe paints.

The “kolong-kolong” is a bicycle or motorcycle with a sidecar made of welded steel bars.

Basirca members use the “kolong-kolong” to carry the waste resources they collect from households and commercial establishments of this bustling community of about 150,000 residents.

The collected recyclable and biodegradable resources are in turn recycled or composted, and the residual waste is disposed of in accordance with Republic Act 9003 or the Ecological Solid Waste Management Act.

Basirca members led the repainting of their tricycles using certified lead-safe paints donated by Roosevelt Chemical Inc., a member of the Philippine Paint & Coatin g s Association Inc. (PPCAI).

“Ang aming mga kolong-kolong ay mahalagang katuwang namin sa marangal na trabaho araw-araw na nakakatulong upang mapanatili

ang kalinisan at kalusugan ng aming pamayanan,” said Basirca president Andy Gammad.

“Kailangang pinturahang muli upang mapaganda at maiwasan ang pangangalawang,” he added.

“We recognize the irreplaceable role of Basirca members in protecting community health and environment through ecological solid waste management,” said Jover Larion, Phinla project coordinator for Quezon City of EcoWaste Coalition.

Phinla is short for the Global Program to Scale Up Multi-Sectoral Sustainable Waste Management Systems and Strengthening of Livelihoods for Poverty-Affected Populations in the Philippines, Indonesia and Sri Lanka funded by the German Federal Ministry for Economic Cooperation and Global Development (BMZ) and implemented by the EcoWaste Coalition and World Vision-Philippines.

“We thank Triton Philippines for providing Basirca with the lead-safe anti-rust metal primer and quick-drying enamel for refurbishing the kolong-kolongs,” Larion said.

“We also thank barangay Chairman Wilfredo Cara and the Barangay Council for their appreciation of and support to the environmental service being rendered by Basirca resource collectors daily,” he added.

Court orders Sandiganbayan to reopen ₧660-M Ongpin case

THE Supreme Court (SC) has ordered the Sandiganbayan to proceed with the trial of the graft cases filed against former officials of the Development Bank of the Philippines (DBP) in connection with the alleged P660-million behest loans between the bank and the company of the late businessman Roberto V. Ongpin, Deltaventures Resources Inc. (DVRI).

In a 20-page decision written by Associate Justice Antonuo Kho, the Court’s Second Division granted the petition filed by the Solicitor General seeking the reversal of the May 28, 2014 and March 25, 2015 resolution of the Sandiganbayan dismissing the graft charges.

The antigraft court held that the subject two loans have already been paid, thus, cannot be considered as behest loans in nature.

It held that the elements of evident bad faith, manifest partiality and giving unwarranted benefits were absent to allow the trial of the graft cases to proceed.

However, the SC said the Sandiganbayan erred in granting the motions to quash filed by the defendants and, accordingly dismissing the criminal cases.

It held that the full payment of the loans that DVRI acquired from DBP “does not necessarily take the loans outside the ambit of a behest loan.”

“The Court finds that the Sandiganbayan’s dismissal was improper as the standard of clear lack of probable cause was not observed,” the SC said.

The SC pointed out that the facts asserted by the prosecution in the informations tend to show that the subject loans are behest.

It noted that based on the informations, the prosecution alleged that DVRI was undercapitalized; the stock trading activities of DVRI to be financed by the loan is not feasible because the company was not duly-licensed dealer in securities; there was extraordinary speed in processing and release of the loans.

These claims, according to the SC, can

only be established or disproven by presenting evidence during a full-blow trial on the merits.

“Since the same could not be definitively established at this point, it was highly-improper for the Sandiganbayan to order the dismissal of Criminal Case No. SB-13-CRM-0105 and SB-13 CRM-0106,” the SC ruled.

“In sum, the Sandiganbayan gravely erred in dismissing Criminal Case Nos. SB-13-CRM-0105 and SB-13-CRM-0106, at least at this point of the proceedings before it. Therefore, it is only proper that these criminal cases be reinstated, and thereafter, remanded to the Sandiganbayan for a trial on the merits,” it added.

Based on the records of the case, DVRI had an authorized capital stock of P500,000. which was increased to P10 million. Its subscribed and paid-up capital amounted to P2.5 million and P625,000, respectively.

On April 7, 2009, DVRI applied for a P150million credit line with the DBP and offered its shares in Philweb Corp. and several other companies such Azurestar Corp., Bacong

and

as security for the loans.

A week after the DBP board of directors approved the P150 million credit line application of DVRI upon the recommendation of the DBP Executive Credit Committee. On November 4, 2009, the DVRI applied for another credit line with the DBP in the amount of P510 million. That same day, per the DBP Executive Credit Committee’s recommendation, the DBP Board of Directors approved DVRI’s application for the P510 million. The

CONSULTATION AT CLARK At least 90 Clark stakeholders including representatives

Aeta tribes living inside

reservation

locators attend the public consultation on Tuesday at the HSD Training Hall in Clark Freeport, Pampanga. The participants provided insights, feedbacks, and asked questions to Clark Development Corp. officials during the event. CDC President Agnes VST Devanadera,

WEF gender gap report: Pinays still struggle; PHL falls 9 notches in index

By Cai U. Ordinario @caiordinario

THE country may be celebrating over a century of its independence, but women nationwide are still facing an uphill battle, especially in terms of economic opportunities and political empowerment, according to the latest report from the World Economic Forum (WEF).

Based on the Gender Gap Report 2024, the Philippines fell 9 notches to 25th place out of 146 countries from 16th overall in 2023. The country’s overall score was at 0.779 in 2024, lower than the 0.791 score it posted in 2023. The Philippines debuted in the Gender Gap Index at 6th place in the world in 2006, when the index was first published, but dropped out of the top 10 after 2018 when it ranked 8th overall.

NAMRIA’s site back online, but with warning

THE National Mapping Resource Information Authority (Namria)’s official website is back online and accessible to the general public.

An agency responsible for providing the public with mapmaking services and acting as the central mapping agency of the Philippines, Namria’s website has been under attack since June 5. This attached agency of the Department of Environment and Natural Resources (DENR) acts as the depository, and distribution facility of natural resources data in the form of maps, charts, texts, and statistics.

Today, its website is back and can now be accessed. However, a notice to the public still appears, flagging an attempt to access sites on the website. The latest posting on the website is dated June 5. The public can now access downloadable products of Namria.

Namria has four technical branches, namely, the Hydrography Branch, which acquires and analyzes hydrographic and oceanographic data used for promoting navigational safety and oceanographic research; the Mapping and Geodesy Branch, which is the sole agency of the government through which base maps are maintained and updated to serve as basic inputs in various development activities of the government, academic and scientific community, and the private sector; Resource Data Analysis Branch which is mandated to conduct land use assessment and evaluation, including land classification; and the Geospatial Information System Management Branch that works for sharing, transfer, exchange, packaging, and dissemination of environment and natural resources data.

The Geospatial Information System Branch develops and maintains information systems and environment and natural resources databases for use not only within Namria but also by outside clients. It also serves as the marketing arm of the agency for all its products and services.

Lastly, the Support Services Branch or the Engineering Services Department (ESD) is mandated to work and maintain the internet connection, maintenance of the agency data link server, and all of the office computers, facilities, and vehicles, instruments. It also serves as the marketing arm of the agency for all its products and services. It shows actual maps covered under alienable and disposable

“Despite some bright spots, the slow and incremental gains highlighted in this year’s Global Gender Gap Report underscore the urgent need for a renewed global commitment to achieving gender parity, particularly in economic and political spheres,” said Saadia Zahidi, Managing Director, World Economic Forum. “We cannot wait until 2158 for parity. The time for decisive action is now.”

The GGI is based on country scores in four subindices—Economic Participation and Opportunity; Educational Attainment; Health and Survival; and Political Empowerment.

The Philippine performance slipped four notches in political empowerment to 34th overall in 2024 from 30th in 2023. Under this subindex, the country ranked 94th out of 146 countries in the percentage of women appointed to ministerial positions. The data also showed the

country ranked 70th overall in terms of the percentage of women serving in parliament. “Women’s representation in the political sphere has increased at the federal and local level, though top-level positions remain largely inaccessible for women globally. With over 60 national elections in 2024 and the largest global population in history set to vote, this representation could improve,” WEF said in a statement.

The country’s ranking also declined three notches in economic participation and opportunity to 20th out of 146 countries in 2024 from 17th in 2023. The Philippines ranked 98th in terms of labor force participation rate.

Apart from labor force participation, more women are also paid less compared to their male counterparts. The country ranked 43rd out of 146 countries in terms of estimated income earned.

“Factors, such as gender gaps

in professional networks and care responsibilities are slowing economic progress for women. The World Bank estimates that closing the gender gap in employment and entrepreneurship could increase global GDP by more than 20 percent,” WEF said.

The Philippines also posted its lowest ranking in the subindex of health and survival at 86th out of 146 countries in 2024. However, this was the same rank the country had in 2023.

The indicator where the country did poorly was in the sex ratio at birth, where the country ranked 139th out of 146 countries. With such a low ranking in this indicator, the country’s performance in health life expectancy, where it ranked first worldwide, still failed to even the odds.

Nonetheless, the GGR stated the country did well in terms of Education Attainment where it

ranked 1st worldwide in 2024 from 32nd in 2023. The country’s score in this indicator was 1.0 which indicated perfect equality in 2024.

“Eastern Asia and the Pacific ranks fourth, with an overall gender parity score of 69.2 percent.

While there’s been a positive shift of +3.1 percentage points overall since 2006, only New Zealand and the Philippines have made the global top 10 since then,” the WEF report stated.

The WEF said the Global Gender Gap Report 2024 revealed that the world has closed 68.5 percent of the gender gap. Globally, the gender gap has closed by 0.1 percentage points since last year.

However, at the current pace it will take another 134 years— equivalent to five generations—to achieve full gender parity. This is longer by three years compared to 2023 when it was estimated that it will take 131 years to close the gap.

CAGAYAN DE ORO CITY—The national government’s peace mechanisms are strengthening their partnership with the Armed Forces of the Philippines (AFP), particularly under the Western Mindanao Command (Wesmincom) and other members of the security sector in an effort to better address the proliferation of loose firearms in the Bangsamoro region.

This collaboration was the central theme during the AFP Brigade Commanders’ Forum on the Small Arms and Light Weapons (SALW) Management Program held here recently The forum, convened by the Joint Normalization Committee-Government of the Philippines (JNC-GPH), in collaboration with the United Nations Development Programme (UNDP) and funded by the Govern-

THE Participatory Planning and Road Map Development Workshop towards a Smart and Sustainable City of Laoag kicked off on Monday at the auditorium of Laoag City in Ilocos Norte, with no less than Laoag City Mayor Michael Marcos Keon and DOST 1 Regional Director Dr. Teresita A. Tabaog in attendance. In a brief message before the

ment of Japan, brought together top AFP officials under the Wesmincom to discuss collaborative strategies on how to best implement the SALW Management Program of the Office of the Presidential Adviser on Peace and Reconciliation Unity (Opapru).

The SALW Program is among the key security components of the Annex on Normalization under the Comprehensive Agreement on the Bangsamoro (CAB). The JNC is responsible for leading the program’s implementation.

“Normalization is one of the main focus of the campaign of the Wesmincom. And we know that our workshop about SALW…this is not a stand alone SALW. We are actually hitting the four major areas of the Normalization, not only the security sphere,” said JNCGPH Co-chair Ariel Hernandez.

program proper. Mayor Keon underscored the importance of SSCP, a program run by the Department of science and Technology, and encouraged the participants to actively engage in the process to help Laoag City become a smarter and more sustainable city not only for Ilocanos but for all Filipinos. Dr. Tabaog, for her part, high-

“When we talk about SALW, we cannot help but also touch on rido settlements. We cannot help but touch on the decommissioning and we cannot help but talk about DPAGs. These four are mutually reinforcing,” Hernandez added.

In 2020, the Opapru forged an alliance with Provincial Local Government Units within the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), which laid the groundwork for the localized implementation of the SALW Program.

Building upon this partnership, the UNDP, in collaboration with the JNC, developed and rolled out the Assistance for Security, Peace, Integration and Recovery for Advancing Human Security in BARMM (ASPIRE) SALW Project on October 5, 2023, in Basilan. This is expected to be repli-

lighted the SSCP’s potential to foster more inclusive, smart, and sustainable communities and cities in the province, ultimately uplifting the way of life of the people in Laoag City. Meanwhile, Engr. Benjamin S. Mercado, Provincial Director of DOST PSTO-Ilocos Norte (IN), spoke of the program’s rationale, as he listed the activities and sessions for

cated in other BARMM areas in the succeeding months.

While the forum acknowledged the importance of using a multifaceted approach, it also noted the challenges that remain, which include the possession of unlicensed firearms in the BARMM.

Western Mindanao Commander, LtGen William Gonzales, highlighted the need to have a strong focus on enhancing coordination among members of the security sector in the region.

Gonzales stressed that this move would involve increased collaboration between the military, police, and other security agencies in BARMM to minimize disruption to civilian life, and coordinate efforts to dismantle illegal arms networks using an approach that respects human rights.

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

DAVAO CITY—The road network infrastructure here, including the 45.46-kilometer bypass road, the coastal road and the bridge project to connect Samal Island, would form the city’s expressway in the future, a project engineer of the bypass road said.

Engr. Benjamin Bautista, project director of the bypass road, said the road that is targeted to be completed in 2027, the 17.33-km coastal road and the Davao-Samal Interconnector Bridge project, would form the elaborate highway network to ease congestion in the central business district and its suburbs.

The Davao City Expressway program has to be deferred yet for the meantime after all the road infrastructure projects would have been completed.

The three projects are still under construction stage, with the bridge project still on its initial phase, and the coastal road still waiting for the main bridge construction across the Davao River.

The three big projects have been bogged down in the early stage with funding, and the usual road rightof-way problems common in all infrastructure works in the country, Bautista explained. He said the bypass road project includes the 2.3-km twin tunnel highway, the country’s longest tunnel road, 31 bridges and several overpasses and underpasses. The project starts in Barangay Sirawan, Toril district going up north in the Calinan area in Barangay Waan, passing through Davao River to the Mandug area and upper Buhangin area to end up in the J.P Laurel highway of Panabo City.

The project is still 32 percent of target completion, with the twin tunnels already 80 percent in its excavation stage.

The coastal road entails working on the Davao River bridge, downtown portion of the road and the Magsaysay bridge going to R. Castillo, where it ends. The Davao City-Samal bridge has just started dropping the board piles, which serve as the foundation of the bridge. The Davao City end of the bridge would land at the junction of R. Castillo Street and Lanang Road, more than one kilometer from where north end of the coastal road project would end.

Bautista and Engr. Rodrigo delos Reyes, project director of the Samal bridge project, admitted that road right-of-way problems hounded their respective projects.

Delos Reyes said there were 10 lots in the ROW issue on the Samal side, and Bautista said there were 887 lots covering 320 hectares that have to be addressed. Bautista said however, that only 41 percent have been settled, either through donation or have been expropriated. Both said some landowners vowed to contest their right in court, and some lots have inherent problems like the landowners have not paid their real estate taxes.

“It would now depend on the court to settle them,” Delos Reyes said.

the first day of the workshop. Among the activities are overview and discussions on smart and sustainable community fundamentals, local government units (LGUs) profiling, and assessment from the other resource persons, including Mr. Michael John C. Maquiling, SSCP Focal Person of DOST Region 1; Engr. Jordan L. Abad, Provincial Director of DOST PSTO-IS; Engr. Brian U. Rasco,

Federal Reserve likely to scale back plans for rate cuts because of persistent inflation

By Christopher Rugaber Ap Economics Writer

WASHINGTON—Federal Reserve officials on Wednesday will likely make official what’s been clear for many weeks: With inflation sticking at a level above their 2 percent target, they are downgrading their outlook for interest rate cuts.

In a set of quarterly economic forecasts they will issue after their latest meeting ends, the policymakers are expected to project that they will cut their benchmark rate just once or twice by year’s end, rather than the three times they had envisioned in March.

The Fed’s rate policies typically have a significant impact on the costs of mortgages, auto loans, credit card rates and other forms of consumer and business borrowing. The downgrade in their outlook for rate cuts would

mean that such borrowing costs would likely stay higher for longer, a disappointment for potential homebuyers and others.

Still, the Fed’s quarterly projections of future interest rate cuts are by no means fixed in time. The policymakers frequently revise their plans for rate cuts—or hikes—depending on how economic growth and inflation measures evolve over time.

But if borrowing costs remain high in the coming months, they

Lobster ban seen ending as Chinese premier visits Australia, signaling trade normalization

By Rod Mcguirk The Associated Press

ANBERRA, Australia—Australian Trade

CMinister Don Farrell on Wednesday predicted the final obstacle for exports to China, Beijing’s ban on live lobster imports, will be lifted soon after Chinese Premier Li Qiang visits the country.

The return of lobsters to the Chinese market would be a milestone in the Australian government’s ambition to stabilize bilateral relations since coming to power in 2022. China banned minister-to-minister communications with Australia and imposed a series of official and unofficial trade barriers in 2020 on Australian products including beef, barley, coal, wood and wine costing exporters 20 billion Australian dollars ($13 billion) a year.

Bilateral relations dropped to new lows after a previous Australian government demanded an independent investigation into the causes of and China’s responses to the Covid-19 pandemic.

Farrell said Li becoming the first Chinese premier to visit Australia in seven years on Saturday would remove the final trade barrier on lobsters.

“I think there’s both the willingness on our part and the part of the Chinese government to remove all of the impediments in our

relationship,” Farrell told reporters.

Lobster is the one remaining banned product, said Farrell, China lifted tariffs on Australian wine in March and restrictions on Australian beef in December 2023.

“I’d be very confident that the visit this week will result in a very successful outcome for lobster producers,” Farrell added.

Li will be accompanied by Chinese Commerce Minister Wang Wentao when he visits the Australian cities of Adelaide, Canberra and Perth from Saturday until Tuesday next week.

Farrell said every meeting he had held with Wang since the center-left Labor Party replaced the conservative government in 2022 had progressed the trade relationship.

“I’m very confident that not only will we remove all of the remaining trade impediments, but that we can actually continue to build on our trading relationship with China,” Farrell said.

Prime Minister Anthony Albanese, who in November became the first Australian government leader to visit Beijing in seven years, said Li’s visit was symbolic of the normalization of relations since the current government was elected.

“That has been important for Australia to renew that trade, because one in four of Australian jobs relies upon trade, and one in four of Australian export dollars is from trade to China,” Albanese said.

1.5 million foreign Muslims arrive

in Mecca for annual Hajj pilgrimage

By Samy Magdy The Associated Press

ECCA, Saudi Arabia—Muslim

Mpilgrims have been streaming into Saudi Arabia’s holy city of Mecca ahead of the start of the Hajj later this week, as the annual pilgrimage returns to its monumental scale.

Saudi officials say more than 1.5 million foreign pilgrims have arrived in the country by Tuesday, the vast majority by air, from across the world. More are expected, and hundreds of thousands of Saudis and others living in Saudi Arabia will also join them when the pilgrimage officially begins on Friday.

Saudi officials have said they expect the number of pilgrims this year to exceed 2023, when more than 1.8 million people performed Hajj, approaching pre-pandemic levels. In 2019, more than 2.4 million Muslims made the pilgrimage. The pilgrims included 4,200 Palestinians

from the occupied West Bank who arrived in Mecca earlier this month, according to the Palestinian Ministry of Awqaf and Religious Affairs. Palestinians in the Gaza Strip were not able to travel to Saudi Arabia for Hajj this year, because of the 8-month war between Israel and Hamas.

On Tuesday, pilgrims thronged the Grand Mosque in Mecca, performing a ritual circuit walking seven times around the Kaaba, the cube-shaped structure inside the mosque that is considered Islam’s holiest site. They wore ihrams, two unstitched sheets of white cloth that resemble a shroud.

Many were seen carrying umbrellas against the sun, in temperatures reaching 42 degrees Celsius (107 Fahrenheit) during the day on Tuesday.

“I was relieved when I arrived at the AlMasjid Al-Haram and saw the Kaaba,” said Rabeia al-Raghi, a Moroccan woman who came to Mecca for Hajj along with her husband and their daughter. “I am very happy.”

could also have consequences for the presidential race. Though the unemployment rate is a low 4 percent, hiring is robust and consumers continue to spend, voters have taken a generally sour view of the economy under President Joe Biden. In large part, that’s because prices remain much higher than they were before the pandemic struck. High borrowing rates impose a further

financial burden.

The Fed’s updated economic forecasts, which it will issue Wednesday afternoon, will likely be influenced by the government’s May inflation data being released in the morning. The inflation report is expected to show that consumer prices excluding volatile food and energy costs—socalled core inflation—rose 0.3 percent from April to May. That would

be the same as in the previous month and higher than Fed officials would prefer to see.

Overall inflation, held down by falling gas prices, is thought to have edged up just 0.1 percent. Measured from a year earlier, consumer prices are projected to have risen 3.4 percent in May, the same as in April.

Inflation had fallen steadily in the second half of last year, raising hopes that the Fed could achieve a “soft landing,” whereby it would manage to conquer inflation through rate hikes without causing a recession. Such an outcome is difficult and rare.

But inflation came in unexpectedly high in the first three months of this year, delaying hoped-for Fed rate cuts and potentially imperiling a soft landing.

In early May, Chair Jerome Powell said the central bank needed more confidence that inflation was returning to its target before it would reduce its benchmark rate. Powell noted that it would likely take more time to gain that confidence than Fed officials had previously thought.

Last month, Christopher Waller, an influential member of the Fed’s Board of Governors, said he needed

to see “several more months of good inflation data” before he would consider supporting rate cuts. Though Waller didn’t spell out what would constitute good data, economists think it would have to be core inflation of 0.2 percent or less each month.

Powell and other Fed policymakers have also said that as long as the economy stays healthy, they see no need to cut rates soon.

“Fed officials have clearly signaled that they are in a wait-and-see mode with respect to the timing and magnitude of rate cuts,” Matthew Luzzetti, chief US economist at Deutsche Bank, said in a note to clients. The Fed’s approach to its rate policies relies heavily on the latest turn in economic data. In the past, the central bank would have put more weight on where it envisioned inflation and economic growth in the coming months. Yet now, “they don’t have any confidence in their ability to forecast inflation,” said Nathan Sheets, chief global economist at Citi and a former top economist at the Fed.

“No one,” Sheets said, “has been successful at forecasting inflation” for the past three to four years.

Hamas responds to Gaza cease-fire plan seeking some changes; US says it’s ‘evaluating’ the reply

By Matthew Lee & Abby Sewell The Associated Press

BEIRUT—Hamas said Tuesday that it gave mediators its reply to the US-backed proposal for a cease-fire in Gaza, seeking some “amendments” on the deal. It appeared the reply was short of an outright acceptance that the United States has been pushing for but kept negotiations alive over an elusive halt to the eightmonth war.

The foreign ministries of Qatar and Egypt—who have been key mediators alongside the United States—confirmed that they had received Hamas’ response and said mediators were studying it.

“We’re in receipt of this reply that Hamas delivered to Qatar and to Egypt, and we are evaluating it right now,” White House national security spokesman John Kirby told reporters in Washington.

Hamas spokesman Jihad Taha said the response included “amendments that confirm the cease-fire, withdrawal, reconstruction and (prisoner) exchange.” Taha did not elaborate.

But while supporting the broad outlines of the deal, Hamas officials have expressed wariness over whether Israel would implement its terms, particularly provisions for an eventual permanent end to fighting and full Israeli withdrawal from Gaza in return for the release of all hostages held by the militants.

Even as the US has said Israel accepted the proposal, Israeli Prime Minister Benjamin Netanyahu has given conflicting signals, saying Israel will not stop until its goal of destroying Hamas is achieved.

US Secretary of State Antony Blinken has been in the region this week trying to push through the deal—his eighth visit since Hamas’ October 7 attack on southern Israel ignited Israel’s campaign in Gaza. On Tuesday, he continued pressure on Hamas to accept the proposal, saying that the UN Security Council’s vote in its favor made it “as clear as it possibly could be” that the world supports the plan.

“Everyone’s vote is in, except for one vote, and that’s Hamas,” Blinken told

reporters in Tel Aviv after meeting with Israeli officials, hours before Hamas announced its reply. He said Netanyahu had reaffirmed his commitment to the proposal when they met late Monday.

In a joint statement announcing that they had submitted their reply to Qatar and Egypt, Hamas and the smaller Islamic Jihad militant group said they were ready to “deal positively to arrive at an agreement” and that their priority is to bring a “complete stop” to the war. A senior Hamas official, Osama Hamdan, told Lebanon’s Al-Mayadeen television that the group had “submitted some remarks on the proposal to the mediators,” without elaborating.

The proposal has raised hopes of ending an 8-month conflict in which Israel’s bombardment and ground offensives in Gaza have killed over 37,000 Palestinians, according to Palestinian health officials, and driven some 80 percent of the population of 2.3 million from their homes. Israeli restrictions and ongoing fighting have hindered efforts to bring humanitarian aid to the isolated coastal enclave, fueling widespread hunger.

Israel launched its campaign, vowing to eliminate Hamas, after the group and other militants stormed into Israel on October 7, killing some 1,200 people, mostly civilians, and taking around 250 hostage. Over 100 hostages were released during a weeklong cease-fire last year in exchange for Palestinians imprisoned by Israel.

Later Tuesday, Blinken attended a Gaza aid conference in Jordan, where

he announced over $400 million in additional aid for Palestinians in Gaza and the wider region, bringing the total US assistance to more than $674 million over the past eight months.

UN Secretary-General António

Guterres told the gathering that the amount of aid flowing to the United Nations in Gaza for distribution has plummeted by two-thirds since Israel launched an offensive in the territory’s southern city of Rafah in early May.

Guterres called for all border crossings to be opened, saying, “the speed and scale of the carnage and killing in Gaza” is beyond anything he has seen since he took the helm of the UN in 2017.

In a separate development, the UN human rights office said Israeli forces and Palestinian militants may have committed war crimes during the deadly Israeli raid that rescued four hostages over the weekend. At least 274 Palestinians were killed in the operation, according to Gaza’s Health Ministry.

Blinken, who was in Cairo on Monday, was also expected to visit Qatar— where talks would likely focus on the next steps in the push for a deal.

On Monday, the UN Security Council voted overwhelmingly to approve the proposal, with 14 of the 15 members voting in favor and Russia abstaining. The resolution calls on Israel and Hamas “to fully implement its terms without delay and without condition.”

The proposal, announced by President Joe Biden last month, calls for a three-phased plan that would begin with an initial six-week cease-fire

and the release of some hostages in exchange for Palestinian prisoners. Israeli forces would withdraw from populated areas and Palestinian civilians would be allowed to return to their homes. Hamas is still holding around 120 hostages, a third of whom are believed to be dead.

Phase one also requires the safe distribution of humanitarian assistance “at scale throughout the Gaza Strip,” which Biden said would lead to 600 trucks of aid entering Gaza every day. At the same time, negotiations would be launched over the second phase, which is to bring “a permanent end to hostilities, in exchange for the release of all other hostages still in Gaza, and a full withdrawal of Israeli forces from Gaza.”

Phase three would launch “a major multi-year reconstruction plan for Gaza and the return of the remains of any deceased hostages still in Gaza to their families.”

The militant group embraced a similar proposal last month that was rejected by Israel.

Biden presented it as an Israeli proposal, but Netanyahu has publicly disputed key aspects of it, saying there were parts left out by Biden. The conflicting signals appear to reflect Netanyahu’s political dilemma. His farright coalition allies have rejected the proposal and have threatened to bring down his government if he ends the war without destroying Hamas.

A lasting cease-fire and the withdrawal of Israeli forces from Gaza would likely allow Hamas to retain control of the territory and rebuild its military capabilities.

But Netanyahu is also under mounting pressure to accept a deal to bring the hostages back. Thousands of Israelis, including families of the hostages, have demonstrated in favor of the USbacked plan.

The transition from the first to the second phase appears to be a sticking point. Hamas wants assurances that Israel will not resume the war, and Israel wants to ensure that protracted negotiations over the second phase do not prolong the cease-fire indefinitely while leaving hostages in captivity.

Sewell reported from Beirut.

A SCREEN displays a news conference with Federal Reserve Chairman Jerome Powell on the floor at the New York Stock Exchange in New York on May

Secretary of State Antony Blinken speaks to the media after meeting with families and supporters of Israelis held hostage by Hamas in Gaza, during his visit to Tel Aviv, Israel on Tuesday, June 11, 2024. JACK GUEZ, POOL PHOTO VIA AP

Editor: Jennifer A. Ng

Chiz wants budget aligned to boost agri, lick poverty

SBy Ada Pelonia @adapelonia

ENATE President Francis Escudero wants to align the “mismatch” in government priorities for next year’s budget allocation to bolster the agriculture sector’s competitiveness.

“There is a great mismatch with respect to what the farmers need and [what] the government is giving them,” Escudero said during the hearing of the Committee on Agriculture, Food and Agrarian Reform on Tuesday. He cited the government’s

allocation of funds for flood control projects this year, which he said was higher than the budget allocated for the agriculture sector.

The Department of Public Works and Highways (DPWH) earlier said that its budget for both foreign-assisted and locally-funded flood control projects stood at over P300 billion for 2024.

Meanwhile, the Department of Agriculture (DA) adjusted upward its proposed budget for 2025 to P513.81 billion, nearly double its current budget of P208.58 billion.

China’s waning appetite for grain spells danger for world market

CHINA’S appetite for overseas wheat and corn is dwindling rapidly, which is likely to heap pressure on world grain markets that have grown accustomed to robust demand from the world’s top agricultural importer.

Buyers in China haven’t been observed making any major purchases for a couple of months, according to a number of traders. With domestic prices so low, that trend is likely to continue through the third quarter, they said, declining to be identified discussing sensitive commercial matters.

Global forecasters such as the International Grains Council and the US Department of Agriculture (USDA) are still estimating hefty Chinese purchases over this year and next. If imports plunge, a key pillar of demand affecting farmers worldwide would be compromised.

China’s apathy over imports stems from a sluggish economy and consecutive bumper harvests. The government has been forced to stockpile both wheat and corn to support local farmers, while overseas corn shipments have been restricted or even canceled to prop up the domestic market.

That should alarm China’s foreign suppliers, particularly after Turkey, the world’s fifth biggest buyer of wheat, dealt a blow to demand last week by halting its imports of the grain for four months to shield local producers. Feeble consumption for similar reasons from China, the No. 2 importer, would only add to the market’s jitters.

“The economy is really bad, and overall demand from the whole of society is slumping,” said Ma Wenfeng, a senior analyst at BOABC, a consultancy in Beijing. “The government wants to raise grain prices and increase farm incomes, to activate demand in rural areas. Rather than buying grain from overseas, it is better to buy domestically.”

China has long been a massive buyer of soybeans, principally to nourish its vast hog herd, and is actively booking more cargoes. But the explosive growth in wheat and corn, which also count livestock feed among their uses, only began with diplomatic pledges made to the United States during the trade war with the Trump administration. Wheat and corn imports from January through April were actually running ahead of last year’s pace. That makes the sudden drop-off in activity all the more startling, and could leave international markets vulnerable to declines if China is indeed adjusting its strategy on overseas purchases.

In the last full week of May, the US had just 86,300 tons of corn left to ship to China in the current marketing year that ends in August, drastically below last year’s 631,600 tons, according to the USDA. For next season, there are no outstanding corn sales—which

hasn’t happened in five years—and just 62,500 tons of wheat.

Although the situation could turn around swiftly, particularly in the event of bad weather affecting harvests, China’s glut of grain is unlikely to thin dramatically while consumption remains so weak. Moreover, another year of bumper wheat and corn production is on the cards.

Improved harvest conditions are likely to help narrow China’s wheat deficit from almost 17 million tons in this marketing year to under 7.5 million tons in 2024-25, resulting in reduced import demand, according to Charles Hart, senior commodities analyst at BMI, a unit of Fitch Solutions. Corn imports will also moderate in 2024-25 as output increases, he said.

Feed demand ON the demand side, China’s pig herd is shrinking and meat consumption remains subdued. Mysteel Global expects animal feed requirements for the new wheat crop to shrink by half from a year ago, according to a report from the Chinese consultancy last week. Margins at mills that produce flour for cakes and bread are also suffering as people cut spending, Mysteel said. That means fewer imports. For corn, China’s agriculture ministry has predicted that cargoes in the new marketing year will drop by a third to 13 million tons, from 19.5 million tons estimated for this year.

The USDA is still holding out for 23 million tons, although it could revise its figure later Wednesday when it releases its monthly forecasts.

But there’s pressure on shipments to fall even further. China manages its imports according to a quota system that this year would allow just over 7 million tons of corn and nearly 10 million tons of wheat at the lowest tariff of 1 percent. After that, duties shoot up to 65 percent.

While buyers will be keen to use up their quotas, the economics of importing more than that makes much less sense, said BOABC’s Ma.

“We don’t need such big imports after all, given the bumper harvests and, more importantly, the significant declines in consumption,” he said.

China’s consumer prices rose in May, holding above zero for a fourth month after the country saw its worst deflation streak in over a decade.

Australia is realistic about the challenges in its diplomatic relationship with Beijing, Treasurer Jim Chalmers said, as the country prepares for the first visit by a Chinese premier in more than seven years.

A surprise tax change in Brazil, the world’s largest soybean exporter, is prompting Chinese buyers to snatch up US supplies.

Bloomberg News

“Paano natin aasahan na gaganda ang sektor ng agrikultura kung ang budget sa isang item lamang ng DPWH ay mas malaki pa sa kabuuang budget ng sektor ng agrikultura? [How can we expect the agriculture sector to improve if the budget for just one item of the DPWH is bigger than the total budget of the agriculture sector?]” Escudero asked aloud.

“We should put our money where our mouth is. If you want to truly improve the lives of the poorest of the poor Filipinos engaged in the sector of agriculture, then we should start investing

in agriculture. Hopefully, in the coming deliberations on the budget for 2025, we will see a bigger improvement on this.”

‘Aging farmers’ ESCUDERO also expressed concern over the static average age of Filipino farmers, noting the need to prove that it is possible to earn in the agriculture sector.

The DA earlier disclosed that the average age of farmers in the country was 49 to 50 years old, based on the department’s registry system.

“Sa mahabang panahon hindi

pinapalitan ng bagong henerasyon ang mga tumatanda na nating magsasaka [For a long time, the new generation has not replaced our aging farmers],” Escudero rued. The farmers and fisherfolks he talked to, according to Escudero, tend to aim for their children to be in another line of work instead. He believes that they did not want to subject their children to hardship due to poverty attached to the agriculture sector.

Data from the Philippine Statistics Authority revealed that farmers and fisherfolks still have the highest poverty incidences

among the basic sectors in 2021, with farmers at 30 percent and fisherfolks at 30.6 percent.

“Hanggang hindi natin napapatunayan [na pwedeng kumita sa sector ng agrikultura], patuloy na tatanda ang average age ng ating magsasaka at mangingisda at patuloy tayong hihina sa level at kalidad ng produksyon,” [As long we cannot prove it’s possible to earn sustainably in this sector, the average age of farmers and fishermen will keep rising and the quality of production will continue to suffer],” Escudero said.

Govt sets sights on expanding ginger production areas

THE Department of Agriculture (DA) is pushing for the expansion of areas planted with ginger to meet the rising demand of food manufacturers for the crop.

Citing official government data, Agriculture Undersecretary Cheryl Marie Natividad-Caballero noted the fluctuation in production and harvest area since 2010.

Caballero said, however, that there were “significant increases” in areas planted with ginger in 2023, when it jumped to 4,816.26 hectares (ha), from 4,057.30 hectares ha in 2022.

“Our ginger production areas are increasing, and we want to maintain it. We will also source out quality planting materials for distribution and production expansion to encourage local production and make farmers more competitive,” she told the BusinessMirror via SMS.

The DA official said ginger yield declined to 6.1 metric tons (MT) per ha in 2023, from 7.1 MT/ha in 2022.

Despite this, the expansion in hectarage allowed the Philippines to post a slight increase in output last year. In 2023, estimated ginger production was pegged at nearly 29,380 MT, nearly 2 percent higher than the 28,806.83 MT recorded in 2022.

The increasing demand of food and beverage manufacturers for ginger, a popular ingredient used in making Filipino dishes, is putting pressure on the price of the crop, according to the Caballero. (https://businessmirror.com. ph/2024/06/06/ginger-supplytightening-on-rising-demandfrom-food-processors/)

She said that aside from ginger’s traditional use, it is being positioned as a specialty product

(colorant or supplement) in markets that support natural and homeopathy remedies.

The DA’s latest price watch report as of June 10 showed that the price of ginger in the National Capital Region (NCR) jumped to as high as P300 per kilogram.

When asked about the ideal ginger yield that would meet domestic requirements, Caballero said, “the higher, the better.”

“It will now be determined by the farmers’ willingness to invest in the right production technology. The High Value Crops Development Program can only espouse for better access to production financing and loans, over and above our limited budget space and meager allocation for HVC.”

During a recent radio interview Agriculture Assistant Secretary Arnel de Mesa, who is also the

spokesperson of the agency, said the Philippines imports ginger to beef up domestic supply. He said the Bureau of Plant Industry is currently investigating the apparent decline in imports.

The DA said ginger is a traditional crop that is easy to cultivate and can easily adapt to a broad range of agro-ecological conditions. It thrives in all parts of the country and is found cultivated in small patches for local demand. It is a perennial plant but is usually grown as an annual crop. Ginger is used in the Philippines to add flavor to some common Filipino dishes like tinola, goto, arozz caldo, paksiw, batchoy, and pinakbet. It also used as an ingredient in the manufacture of performs and soft drinks and in the preparation of preserves, candies and pickles.

Vietnam, Thailand rice prices higher in Jan-May–FAO

AVERAGE prices of Vietnamese and Thai rice went up in the January-to-May period, according to the latest data from the Food and Agriculture Organization of the United Nations (FAO).

Figures from the UN agency indicated that Vietnamese 25 percent brokens, the variant usually imported by the Philippines, surged by more than 28 percent during the 5-month period. As of last month, its average price was at $560.20 per metric ton (MT), more than $100 higher than last year’s $436.40 per MT.

Vietnam’s 5 percent brokens, another variety that the Philippines buys from its Southeast Asian neighbor, was more expensive by more than $100 per MT this year. In January to May, it averaged $588.60 per MT, compared to the $456.10 per MT recorded in 2023.

Thailand’s quotation for its 25 percent brokens was slightly higher than that of Vietnam at $592.80 per MT. The average price of the variety during the 5-month period was higher than last year’s $488.30 per MT.

“The FAO All Rice Price Index (FARPI) averaged 137.3 points in May 2024, up 1.3 percent from April and 7.5 percent above its year-earlier level,” the UN

agency said.

“Indica quotations drove the May increase of the FARPI, rising by 1.5 percent month-onmonth. Glutinous quotations also strengthened by 2.2 percent during May, following an uptick in Thailand, where easing harvest pressure lent support to domestic prices.”

FAO said export quotations of Indica were mixed in the major Asian origins last month. Prices of whole-grain rice rebounded by 4 percent to 6 percent in Thailand and by around 2 percent in Pakistan.

“Sentiment in both origins turned bullish in the first half of the month, following an announcement of an import tender by Indonesia’s Bulog and, in the case of Thailand, sales of Brazilian buyers and a recovery in the value of the baht against the US dollar.”

FAO also reported that its cereal price index was up by 7.2 points to 118.7 points in May on a monthon-month basis. Global export prices of all major cereals rose month-on-month, which wheat prices increasing the most.

“The sharp monthly rise was largely due to growing concerns

PhilMech: Cooperatives undergo scrutiny prior to receiving aid

THE Philippine Center for Postharvest Development and Mechanization

(PHilMech) assured lawmakers that the agency has safeguards in place to weed out fly-by-night cooperatives.

During the hearing of the Senate Committee on Agriculture, Food and Agrarian Reform on Tuesday, PhilMech Director Dionisio Alvindia acknowledged claims that some cooperatives are taking advantage of the benefits provided by the government.

“(That’s why) we assess the cooperatives

first before providing them with farm equipment,” he said in Filipino. He said only cooperatives that have a 3-year track record and are registered with the Department of Agriculture may be eligible for the assistance from the government.

“Para maka-avail sila ng programa, kailangan meron silang sama-samang 50 hectares (ha) pataas [The cooperatives should have a combined 50 ha of farmland or more to avail of the program].” He said the agency has distributed

equipment, such as tractors to 7,052 farmers’ cooperatives nationwide, or 1.05 million of its members. This accounts for about one-third of the 2.7 million rice farmers registered under the Registry System for Basic Sectors in Agriculture (RSBSA).

To ensure that planters maintain the farm equipment provided by the agency, Alvindia said a deed of donation is signed by the cooperatives and the government.

“Meron po silang pinirmahan na deed of donation sa amin na kapag hindi nila

na-maintain yung kanilang machine, kukunin po natin at ililipat po natin sa ibang magsasaka na may kakayahan [The deed of donation states that if they can’t maintain the machine, we’ll give it to other farmers who would be capable of taking care of it].”

In 2021, the Cooperative Development Authority (CDA) and PhilMech signed a Memorandum of Agreement (MOA) for the “Entrepreneurial Capability Enhancement of the Farmers’ Cooperative and Association

about unfavorable crop conditions for the 2024 harvests, possibly constraining yields in some main producing areas of several major exporting countries, including in parts of Europe, Northern America and the Black Sea region,” it said. “Additionally, damage to the Black Sea shipping infrastructure exacerbated the upward pressure on prices. Maize export prices also increased in May, reflecting production concerns in both Argentina (due to crop damage from the spread of Spiroplasma disease) and Brazil (due to unfavorable weather), along with limited farmer selling activity in Ukraine amidst seasonally tightening supplies and a strong global demand.”

FAO’s food price index stood at 120.4 points in May 2024, up 1.1 points (0.9 percent) from its revised April level, as increases in the price indices for cereals and dairy products slightly more than offset decreases in those for sugar and vegetable oils, while the meat price index was almost unchanged. Although it registered a third consecutive monthly uptick in May, the food price index remained down 3.4 percent from its corresponding value one year ago and 24.9 percent below the peak of 160.2 points reached in March 2022.

PRICES of local and imported rice are displayed at a market stall in Marikina City, Manila, the Philippines, on Friday, October 6, 2023. BLOOMBERG NEWS

Ada Pelonia

A step forward: Philippine National ID gains traction with financial institutions

The recent announcement that four major banks and an emoney issuer now accept the National ID for transactions marks a significant milestone in our pursuit of a more efficient and inclusive digital economy. The Office of the Special Assistant for Investment and economic Affairs lauded the move as a victory for the people and a positive step towards realizing the full potential of the National ID system. (Read the BusinessMirror story: “4 banks, e-money issuer now allow national ID use in transactions,” June 11, 2024).

The National ID’s acceptance by financial institutions holds great promise for streamlining processes and fostering financial inclusion. With the Bank of the Philippine Islands, Asia United Bank, PS Bank, Rizal Commercial Banking Corporation, and GCash on board, millions of Filipinos will now be able to transact with greater ease and convenience. This development also paves the way for the efficient distribution of cash assistance to vulnerable communities.

One of the key objectives of the National ID system is to ensure that the private sector embraces and utilizes it effectively. Presidential Adviser on Investment and Economic Affairs Frederick D. Go rightly emphasizes this point, saying that the program’s success lies not just in its technology but also in its tangible impact on people’s daily lives. The collaboration between the government and financial institutions is a crucial step towards achieving this goal, and it sets a precedent for other sectors to follow suit.

Moreover, the availability of the Digital National ID online, along with robust authentication platforms like National ID eVerify and National ID Check, strengthens the system’s digitalization efforts. This move towards digital identity verification is in line with global trends and enhances security, accessibility, and convenience for citizens. The suite of verification tools provided by the National ID eVerify system offers fast and reliable identity confirmation, benefiting both government agencies and private companies.

While the integration of the National ID system with financial institutions is undoubtedly a positive development, it is essential to address the backlog of 32 million physical cards to keep pace with the growing demand for the National ID. Timely delivery of physical cards is crucial for those who require them for various transactions. Simultaneously, the digital option should be made readily available and accessible to all, particularly for those awaiting physical cards.

In addition to tackling the backlog, there is also a need to address the substantial undercoverage of children aged zero to four years old. The government’s commitment to conducting mobile registrations, encompassing this age group alongside their parents and guardians, is commendable. Ensuring comprehensive registration across all age groups is vital for the National ID system’s effectiveness and the overall objective of creating an inclusive and secure digital ecosystem.

As the National ID system continues to evolve and expand, it is imperative that the government maintains its focus on security, privacy, and efficiency. Safeguarding the integrity and confidentiality of citizens’ personal information is of paramount importance. The collaboration between the Department of Information and Communications Technology and the Philippine Statistics Authority in introducing the National ID eVerify and National ID Check systems demonstrates a commitment to robust security measures.

The integration of the National ID system with financial institutions is a significant step forward in the country’s journey towards a digital economy. It exemplifies the potential of leveraging technology and collaboration to enhance the lives of citizens and promote economic growth. The government’s commitment to addressing the backlog and ensuring the system’s security and efficiency will be crucial in building trust among citizens, financial institutions, and other sectors. By doing so, the Philippine National ID can become a cornerstone of progress, financial inclusion, and digital transformation in the country.

‘External threats’

MOUTSIDE THE BOX

ANILA, Philippines—“The Philippines needs to prepare for ‘external threats’ due to heightened geopolitical tension in the Indo-Pacific, from the country’s proximity to Taiwan to its dispute with China in the West Philippine Sea, President Ferdinand ‘Bongbong’ R. Marcos Jr. stressed” (inquirer.net).

US President Barack Obama laid out his “Pivot to Asia” in 2011, as he traveled to Honolulu, Australia, and Indonesia for a series of major meetings. The message was of an integrated diplomatic, military, and economic strategy from the Indian subcontinent through Northeast Asia that would “Profoundly shape the US-China relationship. The core message: America is going to play a leadership role in Asia for decades to come.”

However, Obama designed the Trans-Pacific Partnership as the key economic pillar of the Asian pivot and the TPP was dead on arrival. Was the 2012 Beijing taking control of Scarborough Shoal a response to the much heralded but underwhelming “Pivot to Asia”? Was “The Pivot”

Tnews.businessmirror@gmail.com www.news.businessmirror@gmail.com Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila

merely a sort of bribe to join TPP, which may not have been in the best interests of some regional nations including the Philippines?

The war in the Pacific was basically “America’s War in the Pacific.” Note the approximate casualties— killed/missing/wounded—by nation: Australia/45,000, NZ/12,000, UK/19,000, PHL/30,000, and the US/210,000. China suffered huge military losses (7 million) as a result of the Japanese occupation from 1937.

Yet, in both Northeast Asia and the South China Sea, the Obama administration formally affirmed its neutrality in territorial disputes involving China. Further, until the end of the Obama presidency, it was all talk, talk, and more talk. “Secre-

By Irina Anghel

he UK economy lost more than £257 billion ($327 billion) in potential output because of demotivated workers last year, adding to a productivity crisis that’s left the country falling behind other wealthy nations.

Just one in 10 UK workers were classified as “engaged” at work, which means putting in discretionary effort on the tasks they’re asked to do, according to Gallup research published Wednesday that tracked a slow erosion in motivation over the last decade.

The finding represents a reversal for the UK, which in the early 2010s had the second highest proportion of engaged workers in the Group of Seven industrial nations. That’s now dropped below the averages in both the G-7 and the rest of Europe. It’s now well below the global figure of 23 percent.

The Gallup researchers said that level of engagement means the UK has an issue with “quiet quitters,” or people doing the bare minimum at work instead of being “actively engaged.” Engagement is also dragged down by another category of workers who even oppose the efforts of bosses.

The study looked at the link between worker motivation and output at firm level across sectors and found that including lost output and lost potential could be costing the UK 11 percent of gross domestic product.

“The dangerous threat to the UK economy right now is a workforce that has essentially given up, and the politics are not making that any easier,” said Jeremie Brecheisen, UK managing partner at Gallup, adding that workers feel abandoned by politicians to deal with the consequences of events like Britain’s exit from the European Union. “There is an impact of failure of the government or mistrust in the system.”

That sentiment is on full-display in the run-up to the general election on July 4. Polls suggest voters are likely to end 14 years of Conservative rule, with Prime Minister Rishi Sunak’s party losing ground to both the Labour opposition and the rightwing Reform UK party.

tary of State Hillary Clinton at the ASEAN Regional Forum meeting in mid-2010 stated that the US would be willing to facilitate a collaborative process for addressing the territorial claims.” We are still waiting.

“A few weeks earlier, President Obama left no doubt that the U.S. military and broader security focus was now shifting from Iraq and Afghanistan to Asia.” Except then came the Arab Spring and “We came, we saw, he died,” Hillary Clinton joked when told of news reports of Qaddafi’s death.

Fast-forward to 2024 and this time the US definitely means it. June 10, 2024—Washington Post: “Adm. Samuel Paparo, the new head of U.S. Indo-Pacific Command; The key to thwarting Xi’s assumed strategy is a U.S. strategy called ‘Hellscape.’

The idea is that as soon as China’s invasion fleet begins moving across the 100-mile waterway that separates China and Taiwan, the U.S. military would deploy thousands of unmanned submarines, unmanned surface ships and aerial drones to flood the area.”

The fact that these “thousands of unmanned submarines, unmanned surface ships, and aerial drones” do not yet exist is apparently beside the point. It is the thought—and rhetoric—that counts.

But what if the People’s Republic

of China decided to blockade the main island of Taiwan, also known as Formosa? The “Republic of China” says that this would be an act of war against a sovereign state. The position of the Republic of China has been that it is a de jure sovereign state. The US government recognized the government of the People’s Republic of China (PRC or China) as the “sole legal Government of China” in 1979 and severed official diplomatic relations with the Taiwan-based Republic of China. Currently, Taiwan has 12 diplomatic allies that recognize Taiwan as the sovereign “ROC.”

“The Australian Government does not recognize the ROC as a sovereign state and does not regard the authorities in Taiwan as having the status of a national government.”

“Canada has official, diplomatic relations with the People’s Republic of China alone.” “France adheres to the One China policy, where France recognized the People’s Republic of China as the sole legitimate government of “China.”

The point is that without firing a shot, the PRC could effectively force the world to either fully accept its “sovereignty” over Taiwan or go to war. However, a total blockade of ships to and from Taiwan might not be necessary.

See “Mangun,” A9

The UK is struggling to boost an economy that tipped into a mild recession last year. The Bank of England expects weak growth for much of this year. Economists forecast a small drop in output when April’s figure is published later on Wednesday.

Gallup’s work also underscores challenges for Labour if it wins office, with hurdles to reviving the economy and lifting livings standards.

The UK is struggling to boost an economy that tipped into a mild recession last year. The Bank of England expects weak growth for much of this year. Economists forecast a small drop in output when April’s figure is published later on Wednesday.

Productivity is a big part of the problem. Output per hour worked has stagnated since the financial crisis, falling behind the US and other rich countries. At the same time, Britain has fewer workers than before Covid after more than 800,000 people dropped out due to long-term sickness, to retire or for education.

Gallup found that a lack of clarity around what needs to be accomplished is one of the main drivers of

low engagement. While part of that is due to poor management, in the UK the situation has been exacerbated by a series of shocks from Brexit to the pandemic and macroeconomic uncertainty, Brecheisen said. External factors like politics account for about 30 percent of the variance in engagement levels overall, he added. Britain scores well on some measures. About 40 percent of UK employees are experiencing stress daily, below the European average. But a demotivated workforce makes it harder for the country to draw in and retain skilled workers. And Britons are also more likely to experience other negative emotions like sadness or anger on a daily basis, Gallup found.

“There’s still a lot of things that are very attractive about the UK but the risk in the future is that this starts to erode the employee value brand of the country,” Brecheisen said. “The best and brightest are not going to want to come to England if this is a terrible place to work, they’re much more likely to want to go to Canada or America or Germany or somewhere else where they know it’s going to mean better work experience.” with assistance from andrew atkinson /bloomberg

Ambassador Antonio L. Cabangon Chua Founder

John Mangun

US to widen sanctions to curb chip sales to Russia’s war machine

By Josh Wingrove

President Joe Biden’s administration is widening sanctions on the sale of semiconductor chips and other goods to russia, targeting third-party sellers in China and elsewhere as it looks to further choke off Vladimir Putin’s war machine in Ukraine.

The Biden Administration on Wednesday will announce changes that broaden the scope of existing export controls and restrictions to target US-branded goods even if they’re not made domestically, according to people familiar with the move who requested anonymity to detail the plans before the announcement.

Chips, in particular, are a key target of the changes. Russia is still managing to source chips from third-party countries for use in missiles and other inputs critical to the battlefield, according to the people, despite a push to curb Moscow’s access to technologies supporting its war effort.

The US will widen the categories of restricted items by publishing broader product codes and also identify, by address, Hong Kong entities it alleges are funneling goods to Moscow, the people said.

National Security Council spokesman John Kirby confirmed new measures were coming while declining to discuss specifics.

“We’re going to continue to drive up costs for the Russian war machine, and this week we will announce an impactful set of new sanctions and export control actions,” Kirby told reporters Tuesday.  The actions will target entities and networks helping Russia procure goods for use in war, tighten rules for “financial facilitators” and curb key sectors, Kirby said. The Commerce Department, which oversees export controls, declined to comment.

The move comes as Biden prepares to join Group of Seven leaders for a summit in Italy, where one of their top concerns will be securing new ways to bolster aid to Ukraine and further constrain Russia. Biden will meet Thursday with Ukrainian President Volodymyr Zelenskyy.

Russia’s war, now in its third year, has seen a renewed offensive and intensified aerial bombardment of Ukrainian cities as Moscow seeks to capitalize on a months-long delay in US aid that hampered Ukraine’s defenses.

Third-party sellers

ONe of the biggest changes in the expanded sanctions relates to how the US enforces requirements that require an export license for manufacturers or third-party sellers to sell chips and other goods to Russian military entities, according to the people familiar with the moves. US regulators aim to curb sales of chips made abroad, and sold abroad, if they’re US-branded or if they’re made based on US technology or with US-linked equipment, and thus subject to sanctions. Previously, enforcement has focused more on USorigin goods. The US will identify third-party sellers and warn them that they are restricted from sending US-branded chips to Russia, one of the people said. The resellers are often based in China.

The US will also publish addresses—without a known company name—on its list of sanctioned enti-

continued from A8

Global Guardian, with “expertise on security matters and duty of care requirements that come with an international corporate footprint,” says a ‘Gray Zone embargo’ is most likely at least initially where “The PLA would conduct live fire drills more frequently, closing off Taiwan’s airspace and sea lanes for longer and longer durations; and sporadically and arbitrarily start to harass Tai-

Major oil find by tiny geology firm spurs hope, doubt in South Korea

Vties for the first time, according to the people. That includes eight addresses in Hong Kong that the American government says are linked to reshipments of chips to Russia.

Resellers can apply for a license for sale if it’s for a legitimate, nonmilitary purpose, the people said.

Companies violating sanctions could be subject to criminal penalties or restrictions on their own inputs, one of the people said.

The Biden Administration will also detail so-called temporary denial orders related to firms they accuse of flouting restrictions and selling goods, particularly related to Russia’s aviation sector, one of the people said. And the US is expanding restrictions on enterprise software used in Russia, which would have the practical effect of halting updates for that software.

Technology access

THe move to expand enforcement to cover chips made abroad is the latest step in a long-running push by the US and european Union to curb Russia’s access to technologies used for its war effort. Despite multiple rounds of trade restrictions, Russia has in part circumvented restrictions by importing what it needs through third countries or networks of intermediaries.

Last year, Russia imported more than $1 billion of advanced chips. Some of those shipments were built by subsidiaries and subcontractors of western firms and moved by resellers and intermediaries.

The european Union is currently discussing proposals demanding companies enhance checks and making them responsible for the actions of firms they control. Several member states are pushing to water down these proposals, however, over concerns they place too heavy a burden on companies and are difficult to enforce.

The eU is discussing sanctions on banks in third-party countries that are enabling some of these transactions by using Russian alternatives to the SWIFT payments system, which processes many international money transfers.

Biden has been ratcheting up support for Ukraine ahead of his rematch with Republican Donald Trump in November. Trump has been critical of US support for Ukraine, raising worries in some foreign capitals about the US commitment to Kyiv if the former president returns to office.  Biden last week met with Zelenskyy and announced a $225 million aid package for Ukraine. Biden is also allowing Ukraine to strike some military targets in Russia using USprovided weapons, a move he previously resisted for fears it would draw other nations into the war.

World leaders are also headed to a weekend summit on Ukraine in Switzerland, where the US will be represented by Vice President Kamala Harris and National Security Advisor Jake Sullivan. With assistance from Alberto Nardelli /Bloomberg

wan-bound merchant ships. In turn, this would create political pressure within Taiwan, spook investors, and drive risk premiums up”. Never fear though. September 20, 2023: “Chinese blockade of Taiwan would likely fail, Pentagon official says”. Then again, September 17, 2022: “US military intelligence says Putin unable to attain Ukraine goal”.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE

By Heesu Lee

itor ABreU is a geologist, but he arrived in seoul last week like a star, greeted at the airport by flashing cameras and a hoard of reporters.

The head of a 14-person consultancy — headquartered in his suburban Houston home—had discovered one of the world’s biggest oil and gas deposits off the coast of South Korea, spurring hopes of an energy windfall even as skeptics raised questions.

Announced by President Yoon Suk Yeol in a televised speech, the find has gripped a nation struggling with costly fuel imports, underscoring the extent to which energy security has become a priority globally, even if it means tapping fossil fuels that might set back climate goals for decades.

South Korea aims to lift the share of renewables in its power mix to almost a third by 2038 from just 9% in 2022, and make nuclear its largest source of electricity generation, according to a government proposal. The use of fossil fuels—which currently dominate the energy mix—is meant to plunge over that timeline. Still, the government has been enthusiastic about the potential hy-

drocarbons at stake. The president touted the field as holding as much as 14 billion barrels equivalent of resources, enough for four years of oil consumption, and 29 years of gas demand in the country. The announcement sent local oil and gas shares soaring and was trending on social media for days.

That’s despite the fact that the field, if successful, would take seven to 10 years to come online, and would still be producing oil and gas well after 2050, the year by which South Korea aims to be carbon neutral.

Abreu has sought to manage expectations. While the basin off the country’s southeastern coast held “great potential,” there was only a 20% chance it would yield fuel during exploration, he said, a rate that’s considered the industry norm, according to independent experts.

“It’s still risky,” the Brazilian scientist said at a press briefing on Friday. “There’s an 80 percent chance they do not work.”

Doubts swirling A NY success from the Houston outfit would come after years of disappointment in Korea for much larger players.

After jointly exploring the same region with Korea National Oil Corp. for about 15 years, Woodside energy Ltd. pulled out of the project last year, saying in its annual report the area was “no longer considered prospective.”

Abreu’s firm ACT-Geo bid for and won KNOC’s offer to jointly continue the assessment in 2023.

President Yoon hailed ACT-Geo as a “world-class deepwater technology evaluation company,” though few in the local industry had heard of it. South Korean media also queried its track record.

The bespectacled geologist told reporters his consulting firm, which he describes as niche, had recently opened another office in London, which is also located at a personal residence. The Korean government, meanwhile, highlighted his doctorate from Houston’s Rice University and his experience leading exploration at exxon Mobil Corp.

“The (president’s) press conference raised a lot of questions for the Korean people,” Abreu said. “So then

Peso gets crushed as investors worry Sheinbaum’s

By Michael O’Boyle & Maya Averbuch

MexiCo’s president-elect was set to inherit the world’s top performing currency. instead she’s confronting a historic slump in the peso that’s casting a pall over her early days in leadership.

Claudia Sheinbaum struggled to address investor concerns Tuesday that the ruling party’s landslide election win will pave the way for measures to erode the judicial branch’s independence and allow a slate of constitutional changes to be pushed through quickly. Speaking at a news conference, she said the economy was stable and touted Mexico’s trade relationship with the US, even as the peso extended a drop. The currency is now down more than 8% since the June 2 vote, by far the world’s worst performer in that span.

“Investors don’t have any reason to worry,” she said. “But at the same time, there’s an agenda for the people of Mexico and a project for the nation that have to continue.”

The president-elect is in a jam, caught between expectations for change after her party’s electoral triumph and investors and business executives who worry the country will squander a valuable opportunity to boost growth amid a manufacturing boom driven by nearshoring.

Tuesday’s outreach followed an impromptu press conference Monday at which she also sought to diminish concerns about her plans. The week before, Finance Minister Rogelio Ramirez de la O held a conference call to calm nerves that was plagued

by technical difficulties and limited by his refusal to take questions.

Investors want to see a clear distancing from the proposals put forth by Sheinbaum’s mentor, President Andres Manuel Lopez Obrador, who endorsed her candidacy and whose term ends Oct. 1. Instead, Sheinbaum has pledged to hold surveys and foster dialogue about his plan to replace the Supreme Court with elected officials, but never disavowed it.

Lopez Obrador has said the change is needed because the judiciary is corrupt, and he wants the measure passed in September, when new lawmakers take their seats but before he hands over power.

“Claudia feels indebted to AMLO and needs to show him something for it,” said Aaron Gifford, an emerging market strategist at T. Rowe Price in Baltimore. “Investors want to hear about how Claudia will hold the line against the reforms and make sure that nothing controversial or radical will get through. I just don’t buy it.”

The peso had been the best performing currency in the world during Lopez Obrador’s six-year term as Latin America’s second-biggest economy stood out as a bastion of political and fiscal stability. While his populist rhetoric and demoni-

zation of the wealthy was often uncomfortable for investors, his policies were moderate. Opinion surveys had shown Sheinbaum cruising to victory, but overnight, with the ruling party coalition snagging almost two-thirds of congressional seats in the vote, complacent investors awoke to the risks of an all-powerful party that could change the constitution.

The fear is that the election of judges would allow Morena, the party founded by Lopez Obrador, to stack the courts with loyalists. But Sheinbaum’s decision to call for everyone from court workers to academics to weigh in on the process was a hint to some that there was still room for modifications, even if the meat of the bill might remain unchanged.

Rodrigo Villegas, founder of the political risk consultancy Suass Group in Mexico City, said the lawmakers aligned with Morena don’t all hold the same views and may not all be keen on Sheinbaum’s leadership. But Sheinbaum is confronting a delicate situation in which she’s trying to appease her predecessor and assert her authority without sparking a crisis.

She has only “a narrow margin to maneuver,” Villegas said. “She will have to make delicate or cautious steps moving forward without breaking with Lopez Obrador or hardliners.”

Businesses in the energy, infrastructure and transportation sectors are most worried about the judicial proposal and other reforms pushed by Lopez Obrador, according to Luis

I came here to actually give a more clear response to the Korean people on this very important project.”

Suraya Tulot, a senior upstream analyst at Welligence energy Analytics, said it’s possible ACT-Geo could have unearthed new structures, complementing the work previously undertaken by Woodside and KNOC.

“You can come up with a lot of theories, but theories will not be proven until you drill the wells,” she said.

Opposition politicians in Korea have accused Yoon, who has approved drilling to start before the end of the year, of jumping the gun in announcing the discovery. With results of the exploration due in early 2025, and any production to start over the next decade, certainty is years away.

The main opposition party said in a statement that Koreans “cannot tolerate a shred of doubt” over the project’s viability as it will likely cost an “astronomical amount of taxpayers’ money.”

“It’ll take years for us to know whether the reserve is commercially viable,” said Kim Sungwhan, a lawmaker from the opposition Democratic Party. With assistance from Stephen Stapczynski /Bloomberg

win was too big

de la Calle, a consultant and former undersecretary of international trade negotiations in Mexico’s economy Ministry.

Mexican assets had blithely ignored the risks in the run-up to the election as investors expected Sheinbaum to maintain the status quo, and potentially make efforts to improve relations with the business community and address the $102 billion debt of state-owned oil firm Petroleos Mexicanos.

Shamaila Khan, UBS Asset Management’s head of emerging markets, said Sheinbaum needs to address concerns about excessive debt levels at the state-owned oil company and the need for fiscal reform if she wants to change the narrative. The approval of the judicial reform would raise red flags at credit rating companies and risk putting Mexico on a downward path, she said.

“Investment grade is hard to win, but easy to lose,” said Khan, who had been cautious on Mexico ahead of the election due to the risks of a ruling party supermajority.

elected judges may turn a deaf ear to complaints from the private sector, undermining the rule of law, so the naming of the cabinet next week will be a key catalyst for the peso, said Benito Berber, chief Latin America economist at Natixis. Investors want to see market-savvy technocrats take key economic posts, including at Pemex, Berber said.

“AMLO is calling the shots,” Berber said. “Maybe in October she will break free, and the cabinet will hint to that. Or not.” Bloomberg

‘Set the alarm’ rings across Asia desks on double-whammy Fed day

By Ruth Carson, Takahiko Hyuga & John Cheng

MOTONARI SAKAI is planning to burn the midnight oil on one of the biggest days in the economic calendar this month.

“I have no dinner appointments, I will refrain from drinking at home to watch the US CPI release in peace,” said the Tokyo-based chief manager of foreign-exchange and financial products trading division at Mitsubishi UFJ Trust & Banking Corp. “Then I will probably stay up at night for the Fed decision at 3 a.m.” Sakai is not alone.

Investors from Tokyo to Sydney are game-planning how the doublewhammy of US inflation data and the closely watched Federal Reserve

“dot plot” could rock everything from stocks to bonds and currencies. The events have the potential to upend markets, given expectations officials are more likely to make changes to their closely watched quarterly rate projections—also known as the dot plot—than not.

The outlook on the Fed’s rate trajectory has whipsawed the markets over the past year, with swaps traders slashing bets for the number of rate cuts to closer to one from more than six at the start of 2024. That led to a selloff in Treasuries and a rebound in the dollar, which has derailed Asian currencies such as the yen and the yuan.

So even with India’s post-election volatility, central banks in Japan and Taiwan gearing up for their own rate decisions and various Southeast Asian currencies testing key sup -

port levels, there’s no avoiding the fact that US monetary policy is the single most critical input for traders around the world. Adding to the complexity in the region is the time difference with the US, forcing traders to load up on caffeine to parse through the Fed’s outlook in the wee hours of the morning. Most have little choice but to do so given the heft of the twin events on the same day—a phenomenon that has happened only seven times since 2014.

‘Cash is king’ eM e RGING market experts like Sakshi Gupta are among those on high alert. Carry trades that involve riskier developing nation currencies like the Indonesian rupiah or the Indian rupee could come under pressure should US

prices come in hotter-than-expected or if the Fed proves more hawkish than thought.

“The meeting is very important especially for the rupee,” said Gupta, principal economist at HDFC Bank Ltd. “It could be a trigger for the rupee to move into a new range,” she said.  City Index Inc. likes buying gold and silver. “Cash is king,” said Shoki Omori, chief strategist at Mizuho Securities Co., who is also going to be monitoring the yen. BNP Paribas Asset Management’s Wei Li, a money manager, has retained positive positions in US, Japanese and emerging Asia equity markets “with some tactical adjustments implemented and shifted toward shorter duration.” With assistance from Yumi Teso, Winnie Hsu, Malavika Kaur Makol and Yasutaka Tamura / Bloomberg

A10 Thursday, June 13, 2024

DESPITE EL NIÑO DAMAGE, LA NIÑA RISK, PHL CAN HIT HIGH GROWTH GOALS IN ’25–PBBM

By Samuel P. Medenilla @sam_medenilla

DESPITE the devastating damage to agriculture caused by El Niño and the upcoming rainy season, President Ferdinand R. Marcos Jr. said the country’s economy is still poised to achieve a high growth next year.

“We have now recently been forecast to have a—one of the highest growth rates for the next year and I think that this bodes well for the transformation of our economy, especially as we are trying to recover from the effects of our very bad drought and trying to prepare for what is coming with the rainy season,” Marcos said in his speech during the traditional Vin D’ Honeur reception in Malacañang last Wednesday, the chief executive.

The Department of Agriculture (DA) reported during the weekend that the agricultural damage from El Niño has soared to P9.89 billion.

Under its revised targets, the Development Budget Coordination Committee (DBCC) projected that the country’s

economy growth will be 6.5 percent to 7.5 percent in 2025.

Marcos attributed the optimistic projection to the government’s successful efforts to curb the country’s inflation rate, which still remains within the 2 percent to 4 percent inflation rate target this year.

Last week, the Philippine Statistics Authority (PSA) said the country’s inflation rate accelerated to 3.9 percent in May.

“I think that we have done a good job and with this [bringing down inflation]....It is a very large improvement from what we were under — the situation that we were under maybe a year ago,” the President said.   He said even credit rating agencies like Fitch gave the country a stable outlook.

“We are credited with a stable outlook, which signals [growth momentum] in the medium term,” Marcos said. “It translates to more accessible financing for our government and for our programs,” he added.  Marcos said the government will continue to push for the improvement of the country’s status in all major international debt rating agencies.

CSOs say ADB’s ESF draft still exposes people to risks from ADB-funded projects

By Cai U. Ordinario @caiordinario

CIVIL society organizations

(CSOs) across the region, including those in the Philippines, are seeking an overhaul of the current draft of the Asian Development Bank (ADB) Environmental and Social Framework (ESF).

The ESF is set to replace ADB’s 2009 Safeguards Policy. CSOs said should the current draft be approved, it would continue to expose citizens to risks from ADB-funded projects.

The CSOs expressed concern on the “flexibility” of these standards which include terms such as ‘materially consistent’, “timely”, and “where applicable.” The groups stressed the need for the ESF to make financers and borrowers accountable in ADB projects.

“This clearly shows that actors receiving financing who are supposed to be abiding by this policy will not be held accountable for meeting mandatory requirements for environmental and social safeguarding,” the CSOs said in their position paper submitted to the ADB.

“We immediately call for the removal of these terms, instead replaced with wording that ensures actors will be held to timebound, mandatory, and compliant standards throughout this document,” they added.

The CSOs said the ADB already spent over $40 million in the past decade building and strengthening Country Safeguard Systems and yet, the groups said, there has not been any evidence of pilots done to apply “Country Safeguard systems for SPS 2009 implementation.”

“It is absolutely critical that when borrower systems are less stringent, there should not be any approval of financing by the ADB. As a result, statements that indicate flexibility in the application of borrower systems must be revoked from the ESF,” the CSOs said.

The CSOs stressed that the primary objective of the ESF is to “do no harm” to the environment and

DBM: Qualified govt workers to still get performance perks

By Reine Juvierre S. Alberto & Claudeth Mocon-Ciriaco @claudethmc3

THE  Department of Budget and Management (DBM) clarified that qualified government workers will still receive their performancebased incentives despite the suspension of the ResultsBased Performance Management System (RBPMS) and Performance-Based Incentive (PBI).

The DBM said on Wednesday that the issuance of Executive Order (EO) No. 61 (S. 2024), which suspended the implementation of Administrative Order No. 25 (s. 2011) and EO No. 80 (s. 2012), would reform the government performance evaluation process and incentives system.

“The EO only seeks to review the RBPM and PBI systems of the government in order to harmonize, streamline and make the process of releasing personnel incentives more efficient and timely,” the DBM said in a statement.

The AO No. 25 established a unified and integrated RBPMS across all departments and agencies within the executive branch of government, while EO 80 adopted the PBI System, consisting of Productivity  Enhancement Incentive (PEI) and the Performance-Based Bonus

(PBB) to motivate higher performance, exact greater accountability in the public sector and ensure the accomplishment of government commitments and targets.

Under the EO, the DBM said possible adjustments might be considered to improve the efficiency and streamlined release of the 2023 PBB.

The DBM also assured that the budget allocation for the 2024 PEI has been fully distributed to agencies and will proceed as planned.

Moreover, the DBM said that the budget for fiscal year 2025 PEI will also be included in the National Expenditure Program.

In a recent development, the DBM said the Compensation and Benefits Study on the possible salary adjustment of government workers is ongoing and is set to be finalized before the end of June 2024.

The study will identify areas for

improvement and seeks to establish a fair and sustainable pay structure that will enhance the welfare and productivity of government workers, considering the effects of inflation.

The result of the study will be the basis for changes in the Total Compensation Framework of civilian government personnel to ensure fair and timely salary adjustment for government workers, according to the DBM.

“The DBM assures its readiness to support the implementation of the salary adjustment once approved, to ensure a competitive and equitable compensation package for our civil servants. We will find a way to fund its implementation, subject to excess revenue to be collected by the national government,” it said.

Earlier, the Teachers’ Dignity Coalition (TDC) assured teachers that the 2022 and 2023 PerformanceBased Bonus (PBB) will not be affected by EO 61, suspending the ResultsBased Performance  Management System (RBPMS) and PerformanceBased Incentive (PBI) System.

TDC National Chairman Benjo Basas reiterated that 2022 and 2023 PBB will not be affected because the basis of it is their performance from the previous school year (SY).

“Gayunman, ayon sa inisyal na pagbasa ay hindi ito makakaapekto sa sa hinihintay nating PBB 2022,

d ahil ito ay nakabatay sa ating performance rating noong school year 2022-2023. Samantala, ayon din sa kautusan ay kailangang makapagplano para sa transition ng PBB para sa fiscal year 2023 (SY 20232024) [Nevertheless, our initial reading shows there won’t be an impact on the PBB 2022 that we are awaiting, because it’s based on the performance rating for schoolyear 2022-2023. Meanwhile, as per the order, plans must be made to transition the PBB for the fiscal year 2023 (SY 2023-2024)],” Basas said. Basas reiterated that PBB is burdensome to the teachers and that it should be replaced by something that would be fair and beneficial to the teachers. He said it was being used as a basis for “dumping so much work on teachers, scour for so many modes of verification [MOVs] burden us with accomplishing so many reports, documents, pictures, classroom observation tool (COT) and so many other details for our  Individual Performance Commitment and Review Form [IPCRF],” Basas said. The Presidential Communications Office in a statement on Saturday said that RBPMS and PBI “have been duplicative and redundant with the internal and external performance audit and evaluation systems of the government.”

in communities where ADB projects are located. This should not just include avoiding harm but also potential harm on the environment and in communities.

The groups also stressed that “the highest social and environmental standards must be ensured in Co-Financing” projects. They also added that the ESF remains “gender blind” as the rights of women in project areas are not protected.

“We have therefore concluded that the only option available is for there to be a full overhaul of the current draft—hence, our collective call for the ADB Board and Management to take this opportunity before policy finalization to go back to the drawing board,” the CSOs said.

In May, the NGO Forum network challenged ADB’s policies and projects, highlighting its detrimental impact on communities, environments, and civic spaces.

CSOs demanded that ADB uphold the highest standards of Environmental and Social Safeguarding (ESF), rooted in internationally agreed-upon human rights, labor, and environmental conventions.

The lack of transparency and accountability in the ESF consultation process raises serious concerns. Despite two years of engagement, CSOs have not seen how their inputs were incorporated into the draft policy.

NGO Forum said the ESF’s ambiguous language and omission of critical processes like Environmental Impact Assessments and Social Impact Assessments raise alarms about its effectiveness in addressing project-related harms.

The ADB’s support for coal and fossil gas projects contradicts its climate commitments. The Energy Transition Mechanism (ETM) fails to ensure the decommissioning of coal projects or prevent their repurposing into other harmful ventures.

CSOs denounce the ADB’s inaction in phasing out fossil fuel support and call for the closure of loopholes allowing coal financing.

By Troi Santos

EW YORK CITY—The colorful celebration of the 126th Philippine Independence Day took to the streets of New York City earlier, with more than 100 Filipino-American organizations. The parade, a grand display of Filipino culture and heritage, was led by Grand Marshal Charina Amunategui, Philippine Independence Day Council President Arman David, and notable dignitaries including Senator Chuck Schumer of New York and Assembly member Steven Raga, the first Filipino elected to the State Assembly in New York and other local government officials from New York and nearby states. In a show of Asean solidarity,

Consul General Senen Mangalile extended invitations to Asean Consulates General in New York. Marching down Madison Avenue, the parade included Consul General Amir Farid Abu Hassan of Malaysia, Consul General Somchai Taphaopong of Thailand, Consul Chew Ee Lin of Singapore, Consul Nadia Marlene Eunike of Indonesia, and Consul Bui Dang Quan of Vietnam. Their participation highlighted shared values and common heritage, enhancing the spirit of the event.

Mayor Eric G. Canosa of Gingoog City brought the Kuyamis Festival Group to perform in the streets of New York City, adding to the colorful and dynamic festivities.  Entertainment was provided by iconic Philippine singer Nonoy

Zuniga, 4th Impact (known for their performance on the 12th season of The X Factor UK), Migs Ayesa, Jenn Cuneta, Angel Ram, and other local entertainers. In a significant business development, GCash, the popular Philippines Money Transfer system, launched its product in New York City the day before the parade. Senator Chuck Schumer said as he joined the parade: “I am Senator Chuck Schumer. I love this community, from the time in 1989 when I passed legislation to allow the nurses who did such good work to stay in New York. You personify great American values—hard work, love of family, safe streets, education—and the Filipino people are some of the nicest people on earth. Mabuhay!”

The Filipino community in Albany, upstate New York, continued the celebration on June 4, 2024, with an event organized by the office of Assemblymember Steven Raga and the Philippine Consulate General New York. Filipinos from the area and neighboring towns, including a large contingent from New York City, gathered at the New York State Capitol for the second annual commemoration. The event was led by Consul General Senen Mangalile and Mayor Eric G. Canosa, with performances by the Kuyamis Festival group. This year’s celebrations have once again underscored the Filipino community’s rich cultural heritage and its significant contributions to the varied cultural blend of New York.

THE Filipino community in Albany, upstate New York, celebrated Independence Day on June 4, 2024, with an event organized by the office of Assembly member Steven Raga and the Philippine Consulate General New York. Filipinos from the area and neighboring towns, including a large contingent from New York City, gathered at the New York State Capitol for the second annual commemoration. The event was led by Consul General Senen Mangalile and Mayor Eric G. Canosa, with performances by the Kuyamis Festival group. TROI SANTOS

Editor: Jennifer A. Ng

B1 Thursday, June 13, 2024

ERC permits Meralco to tap power from Ilijan gas plant

By Lenie Lectura @llectura

The energy Regulatory Commission (eRC) has allowed the Manila electric Co. (Meralco) to source 910 megawatts (MW) from the 1,200MW Ilijan Natural Gas Plant of San Miguel Corp.-subsidiary South Premier Power Corp. (SPPC).

The ERC gave its nod to only 910MW because the 290MW is still contracted under the mid-merit power supply agreement (PSA) that will run until December this year.

In granting the provisional authority (PA) for the implementation of the PSA between the Meralco and SPPC, the commission noted that “the issuance of PA will further protect Meralco consumers from exposure to volatile prices in the Wholesale Electricity Spot Market (WESM) and displace volumes contracted by Meralco also from the Ilijan plant at higher prices.”

The 910MW PSA will carry a base rate of P5.9282/kWh.

Based on the commission’s simulations, Meralco’s blended generation rate will be lower by an estimated

amount of P0.2828/kWh, subject to adjustment after the commission’s deliberation on the PSA’s final authority.

The ERC also noted in its evaluation that while Meralco awarded 890MW-1,200MW of capacity under the PSA to SPPC, 290MW is still contracted under an earlier contract previously issued authority by the commission at the levelized cost of energy (LCOE) rate of P5.1363/ kWh. Thus, the commission ordered the parties to continue honoring the subsisting contract and lower rate in respect of the 290MW capacity. In this regard, they were likewise ordered to submit proof of compliance with the requirement under the competitive selection process (CSP) terms of reference that “from Decem-

ber 26, 2023 and for the duration of the PSA, no capacity and electrical output within the Contract Capacity shall be contracted under an agreement apart from the resulting PSA of this Bidding.”

SPPC earlier won the 1,200MW baseload capacity auction.

Baseload power supply is mostly sourced from coal power plants that must run 24-hours a day.

Auction

MERALCO said it has commenced the competitive bidding process for 600-MW baseload capacity requirement for 2025.

A statement from the utility firm said the CSP involves a 15-year PSA, which is targeted to start on August 26, 2025. Meralco prefers bidders that can offer natural gas.

Pursuant to the Department of Energy’s (DOE) advisory dated October 11, 2023, the terms of reference provides that “power suppliers with natural gas fired power plants are highly encouraged to participate in the Bidding and prioritize the use of indigenous natural gas.”

Meralco’s Bids and Awards Committee for PSAs set the deadline for submission of expression of interest on June 25. The pre-bid conference is scheduled on July 4, while the bid submission deadline on August 2.

A Certificate of Conformity to Meralco’s latest Power Supply Procurement Plan for the terms of reference of this CSP was secured from the DOE.

The conduct of CSP is part of Meralco’s continuing efforts to ensure the availability of reliable, sufficient, and cost-competitive power for customers.

Based on the bid invite, interested bidders and any of its affiliates engaged in power generation must not have an outstanding dispute or unsettled dispute or any due and demandable financial obligation, in each case with Meralco or its affiliates engaged in power generation, distribution, and supply.

The bidder and any of its affiliates engaged in power generation must also not have any due and demandable energy settlement amounts with the Philippine Electricity Market Corp. or with the Independent Electricity Market Operator of the Philippines.

Meralco said this provision has been a standard part of Meralco’s CSPs for years already.

However, Meralco said certain power firms with pending judicial cases are excluded from this provision. These include South Premier Power Corp., Therma Mobile Inc., and San Miguel Energy Corp.

MPIC awaits Indonesian road deal

By Lorenz S. Marasigan @lorenzmarasigan

METRO Pacific Investments Corp. (MPIC) is hoping to sign an agreement with the Indonesian government in July to operate the Trans-Java Toll Road.

MPIC Chairman Manuel V. Pangilinan describes this deal as “the last major piece” in finalizing the planned merger with San Miguel Corp.’s (SMC) toll business.

“What we’re waiting for there, the last major piece, is the closing of the Trans-Java Toll Road. Because it’s big—that’s 676 kilometers of finished toll roads in Indonesia.”

Metro Pacific Tollways Corp.

‘Maya IPO far from mind of PLDT’

EVEN if Maya, the digital banking arm of PLDT Inc., breaks even by the end of this year, going public is still simply out of the question, chairman Manuel V. Pangilinan said late Tuesday. He even called it an “illusion” and asked reporters not to talk about an initial public offering (IPO), an initiative that its closest competitor GCash intends to do.

“We have a lot of work ahead of us. So, to dream of an IPO in the next two years is simply an illusion. Please, don’t talk about it. It won’t happen. Plus, the fact the market here is not conducive to an IPO,” Pangilinan said at the sidelines of the telco’s stockholders meeting. Pangilinan said Maya is focused on reaching its goal of hitting breakeven this year.

(MPTC) and partner Singaporean wealth fund GIC were the “preferred bidders” for the Trans-Java Toll, a network of expressways that connect the main island of Java from Cilegon to the eastern end of the island near Bali. On a daily basis, the expressway network serves as much as 800,000 vehicles per day.

“So, from an evaluation standpoint, it’s important to us because it’s valuable,” Pangilinan said.

MPIC and SMC are negotiating terms for the merger of their toll businesses. Pangilinan said the two groups will equally share the stake in the future mega toll company.

“So, hopefully by July, it will be closed—sign the definitive agree -

THE provincial government of Tarlac led by Governor Susan Yap and Narra Technology Park Development Inc. (NTPDI) signed a lease agreement for a 300-megawatt (MW) hyperscale data center.

The signing of the agreement marks the commencement of the development of Narra Technology Park and its access road from New Clark City. This 47-hectare facility will house the hyperscale data center, which is considered a milestone in the country’s digital infrastructure.

The 100MW Phase 1 of the 300MW hyperscale data center is expected to be fully operational by the fourth quarter of 2026.

NTPDI said its vision aligns with the Department of Trade and Industry’s mission to drive digitalization and position the Philippines as a strategic hub for hyperscale data center in the Asia-Pacific region.

“The Philippines is an ideal location for the data center industry due to its large industrial land parcels, growing availability of clean renewable energy sources, and supportive digital infrastructure strategy from

ment. Because there’s already data being exchanged between the two tollways. So, the numbers are already formed,” he said.

SMC President Ramon S. Ang had said the diversified conglomerate is employing a ‘cautious approach’ towards including the Indonesian tollways unit of MPIC in the merger, citing the need for a thorough evaluation before committing.

The merger plans were first announced in November 2023, with Pangilinan saying that it holds strategic significance, as both entities boast profitable tollway ventures across the Philippines and neighboring countries.

MPIC’s tollway interests extend to

Indonesia and Vietnam, while SMC’s operations are exclusively within the Philippines.

The Pangilinan-led toll titan operates the North Luzon Expressway (Nlex), Nlex Connector, Subic-ClarkTarlac Expressway, the ManilaCavite Toll Expressway, the CaviteLaguna Expressway, and Cebu-Cordova Link Expressway.

Meanwhile, SMC operates the South Luzon Expressway, the Star Tollway, the Tarlac-Pangasinan-La Union Expressway, the Skyway, and the Naia Expressway.

Should they decide to pursue the merger, the groups will have to consolidate their franchises into a unified franchise.

the Philippine government,” said William Johnson, managing director of NTPDI.

“The idea was born in response to the growing demand for data storage and processing, and the Philippines’s favorable conditions for data center development makes it an attractive location for investment in this sector.”

Johnson said the New Clark City (NCC) in Tarlac is an ideal location for the hyperscale data center. “We selected NCC in Tarlac due to several factors. Firstly, the availability of large land parcels in the area allowed us to achieve the scale required for a project of this magnitude, a challenge in the land-constrained areas of Metro Manila.”

“Secondly, NCC’s master-planned

environment provided an ideal setting for the development of a modern hyperscale data center hub. Additionally, NCC’s proximity to Metro Manila ensures excellent connectivity to the capital region. We also chose Tarlac due to its proximity to Clark Freeport and access to critical infrastructure such as power, water, and fiber, as well as the availability of competent labor in the area.”

The Narra Technology Park project aims to foster green economic growth in Tarlac. Throughout its three-phase construction, the project is expected to generate over 1,500 direct labor jobs for local communities. Once operational, it will create about 200 high-quality, skilled jobs in IT operations, maintenance, cybersecurity, and other areas.

By VG Cabuag @villygc

JOLLIBEE Foods Corp. (JFC) said Smashburger, its burger joint in the United States, will record a net operating income by next year as its sales continue to rise.

Richard Chong Woo Shin, Jollibee’s CFO, also noted that the company hired several key executives, including former Starbucks executive Denise Nelsen, who is now the CEO of the company.

“So, we are super excited about Smashburger turning the corner and the numbers are showing it in terms of the average daily sales and everything else that’s slightly improved,” Shin said.

“By the end of 2025, Smashburger will not only be EBIT [earnings before income tax] profitable, because it is already, but it will be NOI or net operating income profitable. And the reason we believe that is because we track the average daily sales, which have certain triggers that that we can calculate and predict profitability levels.”

In the first quarter, Smashburger’s same-store sales fell 4.1 percent,

but the company said it showed month-on-month improvement in terms of average daily sales.

Smashburger has 232 branches as of the first quarter, some 127 of which were co-owned while the rest are franchised.

Jollibee took full ownership of Smashburger in 2018, and spent about P4.81 billion, which include transaction cost when it started to acquire the company in 2015. Smashburger said it uses Angus Beef for its burgers, which are smashed on a hot seasoned grill in an open kitchen. Its menu also features grilled and crispy chicken sandwiches, turkey and black bean burgers, and fresh salads, with signature sides like Crispy Brussels Sprouts and SmashFries. Jollibee’s attributable income in the first quarter rose 27 percent to P2.61 billion from the previous year’s P2.06 billion on higher foot traffic in its stores.

System-wide sales for the period rose 10 percent to P86.8 billion from P78.6 billion last year, while revenues grew 11 percent to P61.3 billion from the previous year’s P55.09 billion.

PURE Energy Holdings Corp. (Pure Energy) is diversifying into artificial intelligencepowered agricultural technology (AgTech), specifically climate-controlled indoor farms.

Pure Energy said it is pursuing this initiative as it believes this is the future of agriculture. The renewable energy firm will start constructing a pilot model for a climate-controlled indoor farm by the third quarter of this year.

To achieve this, Pure Energy will source power from its subsidiaries NexGen Energy Corp. (XGEN) and Repower Energy Development Corp. (REDC), which operate solar, hydropower, and wind power facilities in Bulacan, Zambales, Bataan, Cavite, Laguna, Quezon, and Camarines Sur to provide 24/7 power for its planned indoor farms. This will enable Pure Energy to run its powerful equipment to produce designer fruits and vegetables.

The company said indoor farms can grow sustainable food 24/7, 365 days a year due to climate-controlled temperature indoors. Also, the AgTech farm can receive continuous power to control temperature indoors without the ill effects of insecticide and pesticide.

“Agriculture is something that is close to Dexter Tiu’s heart, having

developed this since he was six years old from his grandmother who had a passion for growing plants. This is one of the key reasons why Pure Energy is venturing into this sector,” Eric Y. Roxas, President of Pure Energy, said.

Tiu is the executive chairman and CEO of Pure Energy.

Presently, Pure Energy is operating farms in Tagaytay and Quezon. These farms produce so-called designer fruits, such as sweet red-orange jackfruit, aromatic pandan coconuts, yuzu, amalfi lemons, and macadamia nuts. These fruits and nuts are produced in microclimate conditions specific to each plant.

“The agricultural sector in the Philippines is one of the major components of the Philippine economy, but it continues to experience adverse impacts from various factors such as climate change.” Roxas noted.

“We will be producing designer fruit and vegetables—such as strawberries and dou miao—which we believe have a niche market and strong potential for revenue growth. However, we will not pursue lower-margin vegetables such as lettuces or local tomatoes given there are a dime a dozen greenhouse-grown bitter or sour produce of these everywhere.” Lenie Lectura

Contributed photo

photo from www.smashburger.Com

Banking&Finance

New consumption habits seen denting ’24 excise tax collection

By Reine Juvierre Alberto

The Bureau of Internal Revenue

(BIR) expects the gap between the current excise tax take of the government and its target collection of P326.195 billion will further widen this year due to changing consumption patterns.

In 2023, excise tax collection amounted to P291.661 billion. This is lower by 12.95 percent than the BIR’s target of P335.04 billion.

Based on preliminary data, the tax collection gap will widen to 15 percent this year, according to BIR a ssistant Commissioner Jethro M. Sabariaga.

“a s of this date, we’re down already to P10 billion in tobacco [excise tax collection] and napakahirap i-overcome nito [that’s very hard to overcome],” Sabariaga told reporters at the sidelines of the recent Trade and Connect series of the British Chamber of Commerce Philippines (BCCP). a part from illicit trade, which the BIR combats through enforcement activities, he pointed to new

consumption habits as the main reason for the widening of the collection gap.

“With the way that the goal was set this year, they are expecting 53.5 percent in tobacco collection. Kahit anong galing natin diyan, hindi natin kakayanin ’yan. [no matter how good we are, we cannot reach that],” Sabariaga said. Latest data from the BIR showed that excise taxes on tobacco went down by 20 percent to P21.975 billion as of the first quarter from P27.471 billion collected in the same period in 2023.

Sabariaga said one of the betterperforming industries this year was the sweetened beverages sector, which rose by 12.76 percent to P8.950 billion as of end-March, due to the

sweltering heat. This, however, makes up only 15.08 percent of the total excise tax collected in the first quarter.

Excise tax take from petroleum, minerals and automobiles in the first quarter also declined by 23.09 percent, 14.37 percent and 3.65 percent, respectively.

To close the gap, Sabariaga said the money now being spent on vape products should be examined.

“We should look at how efficient really is the Bureau of Customs [BOC] in flagging those importations,” he said.

Sabariaga said the BIR is now imple -

menting the attachment of internal revenue stamps (IRS) on all vape products sold in the market, which could double or triple the tax take from vape products this year.

“The main objective in imposing these excise taxes is to deter consumption. So you should not be expecting bigger revenues,” he added.

The BIR aims to collect P2.848 trillion in revenues, which was revised downward by the Development Budget Coordination Committee (DBCC), from the P3.055 trillion initial goal for the year.

Exec: SSS interested in acquiring govt shares in toll road

STaTE-Run pension fund Social Security System is keen on buying out the government’s shares in the Subic-Clark-Tarlac Expressway (SCTEx), according to SSS President and CEO Rolando L. Macasaet. Macasaet told reporters at the recent launch of the MySSS Pension Booster that SSS is interested in purchasing the government’s 50-percent share in SCTEx, which is operated by the Metro Pacific Tollways Corp. (MPTC).

This, after Finance Secretary Ralph G. Recto said that SSS and the Government Service Insurance System (GSIS) could buy out the government’s shares to raise non-tax revenues. (See: https://businessmirror.com. ph/2024/05/17/recto-open-to-pension-fund-buyout-of-govt-sctexshare/).

“I am okay [with the acquisition of the government’s shares in SCTEx] as

Forfeit

long as there is cash flow. Cash flow is important,” Macasaet said in a mix of English and Filipino. a s a former vice chairman and president of Skyway Corp., Macasaet said infrastructures, such as toll roads, are “a great investment.” “Kung existing na ’yung expressway, ang risk minimal na lang. Kaya gusto ko yang toll road na ’yan for the pension fund [If the expressway already exists, the risk is only minimal. That is why I like toll roads for the pension fund],” he said.

Macasaet added that he is open to investing the pension fund in brownfield investments, or in an existing project or facility with a stable cash flow, unlike greenfield investments with construction risks.

He also expressed interest in SSS’ purchase of prime government assets with cash flow potential to help the Department of Finance (DOF), which

targets to raise P42 billion from the privatization of government assets, and the government to cover the budget deficit.

“If it is a government property and I see the potential, I will help the DOF,” Macasaet added.

While Macasaet and Recto have expressed interest in the toll road, SSS Investment Support Division Senior Vice President Ernesto Francisco Jr. said the “right valuation” must be taken into consideration.

“[SCTEx] has a steady cash flow and the traffic is going up. It is suitable and the pension fund could definitely invest in it but there is a process of valuation and the right infrastructure must be ironed out first,” Francisco said in a mix of English and Filipino.

He said SCTEx is “very meritorious” due to improving economic activities in the areas covered by the toll road.

properties used in crimes, firm tells government

CaPSTOnE-In TEL CEO advocated for adoption of advances Forfeiture Strategies by Philippine Law Enforcement Local research firm Capstone-Intel Corp. has called on Philippine law enforcement agencies to adopt advanced legal strategies used internationally for the forfeiture of properties involved in crimes, such as money laundering and illegal Philippine offshore gaming operations (POGOs).

Its CEO nicasio Conti noted the effectiveness of civil asset forfeiture proceedings, which target property rather than individuals. He cited successful cases from the united States, the united Kingdom, and Canada to underscore the potential benefits of these strategies for the Philippines.

“In the united States, for instance, civil asset forfeiture has been a critical tool. a notable case, united States v. One 1987 Jeep Wrangler, involved the forfeiture of a vehicle used for transporting illegal drugs. The absence of a legitimate claimant allowed the government to take possession of the vehicle seamlessly,” he said in a statement.

He also mentioned the case of united States v. $124,700 in uS currency, where the court ruled in favor of the government after the claimant failed to prove a legitimate source for the seized cash.

Conti cited the uK’s Proceeds of Crime act 2002, which enabled the national Crime a gency to forfeit a mansion purchased with drug trafficking proceeds. “This case exemplifies how civil recovery orders can be utilized to dismantle criminal enterprises by targeting their assets.”

additionally, he referenced Canadian practices, such as the forfeiture of luxury vehicles linked to drug trafficking in Ontario. “These cases demonstrate that civil forfeiture is not only effective but also adaptable across different legal systems.”

He said adopting these strategies could significantly enhance the capacity of Philippine law enforcement agencies to disrupt and deter criminal activities.

“By focusing on the forfeiture of assets used in or derived from criminal conduct, we can hit criminals where it hurts the most —their finances. This approach not only removes the tools of the trade from offenders but also deprives them of the profits of their illicit activities,” he said.

He further stressed the importance of targeting illegal POGO operations and other cybercrimes. “The rise of illegal POGO operations and cybercrimes presents new challenges for law enforcement. Implementing advanced forfeiture strategies can be a powerful deterrent against these modern threats.”

BDO unibank has relaunched its BDO Shopmore Mastercard and packed it with new benefits to mark the card’s 20th anniversary. upon signing up, applicants can choose any of the three vibrant designs of this card made from 100 percent recycled plastic. Then, they get to enjoy perks and privileges applied with terms and conditions.

The benefits include free firstyear membership, 250 welcome bonus points after the first purchase, double points on daily purchases, extra cashback and exclusive deals from select partners, dining and food delivery discounts, and 0 percent interest Buy now, Pay Later options at over 20,000 stores.

“Enhancing BDO ShopMore Mastercard is our way of thanking our loyal clients and inviting new ones to enjoy its benefits,” said Ma. nannette R. Regala, senior vice president and head of Consumer Banking Group Marketing at BDO. For two decades, BDO ShopMore Mastercard has been a con-

“We are very constructive and excited about that opportunity. We are keenly looking into it,” Francisco added.

Earlier, SSS said it is targeting to expand its real estate investment trusts (REITs) investments this year to generate higher returns for the pension fund. It currently invests P6 billion in nearly all the REITs available in the country, which is expected to yield around 8 percent. (See: https://businessmirror. com.ph/2024/06/04/sss-keen-onhiking-reit-investments-to-boostincome/).

The investible fund of SSS is around P750 billion to P800 billion, Francisco said.

This year, SSS is targeting to increase its membership by 5 million members to protect its reserve funds from depleting. The pension fund currently has 20 million paying members. Reine Juvierre Alberto

stant partner of many Filipino shoppers, according to her. With a simple dip, tap, or using BDO Pay scan-to-pay, it has allowed cardholders to buy basic home items that make their lives more convenient and rewarding. Given the rise of digital payments, users enjoy safe and convenient online shopping through trusted apps and websites. They gain from year-round offers courtesy of top e-commerce platforms like Lazada, Shopee, GrabFood, and foodpanda, along with restaurant discounts up to 50 percent.

The card also offers flexible installment options. It can be used also abroad since it’s accepted at more than 20 million locations in approximately 275 countries and territories.

a s part of its 20th anniversary activities, BDO is setting up booths in SM Seaside City Cebu (Mountain Wing) on June 21, and SM north Edsa (The Block Event a rea) on august 8 for clients and mallgoers to rediscover and appreciate BDO ShopMore Mastercard’s benefits and rewards. Roderick L. Abad

BusinessMirror file photo

Health& Fitness

Preventive screening, early treatment keys to easing financial burden of NCDs–study

By Rizal Raoul S. Reyes Contributor

AlreA dy confronted with daily economic challenges, Filipinos with non-communicable diseases (NCds) such as cardiovascular diseases, cancer, and diabetes also shoulder significant out-ofpocket healthcare expenses.

The finding was highlighted in a recent webinar conducted by the Philippine Institute for Development Studies (PIDS) featuring the study titled “Determinants of h ousehold Out-of-Pocket e xpenditure on Noncommunicable Diseases.” Authored by PIDS Consultant Lovely Ann Tolin and PIDS Senior Research Fellow Valerie g ilbert T. Ulep, this study, which utilizes data from the 2018 National h ealth e xpenditure Survey (N he S), is part of the broader three-part PIDS paper titled “Analysis of the National h ealth e xpenditure Survey Round 1 and Design of Survey Protocol for N he S Round 2 (Phase 1)”. Despite having Philippine h ealth Insurance Corporation (Phil h ealth) coverage, the authors observed that it does not statistically decrease outof-pocket spending on NCDs. The authors attributed it to the limitations in the Phil health benefit package for NCDs which leave patients finan -

cially exposed. h owever, the finding could reflect a demand-side shift. Access to Phil h ealth might have influenced healthcare service pricing, potentially leading to a decrease in costs and a subsequent increase in demand for these services.

Expand

coverage

Ph ILh e ALT h , represented by Senior Vice President Dr. Renato Limsiaco, Jr., acknowledged the above challenges. h e assured the public of their efforts to expand health insurance coverage and make healthcare services more accessible. Their goals include exceeding the current 20 percent healthcare financing cap, reducing out-of-pocket expenses, prioritizing primary care services, improving provider payment methods, and strengthening the overall sustainability, digitization, and governance of the healthcare system. Tolin revealed that there are sev -

eral factors affecting out-of-pocket spending on NCDs. These include type of health facility (with private facilities leading to higher costs), health insurance coverage, presence of comorbidities, and socioeconomic status. Furthermore, the  financial burden applies to both outpatient and inpatient care, with medications and professional fees being the top cost drivers.

“On an aggregate scale, estimates from the Philippine Statistics Authority showed that NCDs accounted for 30 percent of Total health e xpenditures in 2019,” Tolin said. “This is a particular concern given that household out-of-pocket expenditures will constitute almost half of total health expenditures owing to the lengthy and expensive treatment processes for NCDs,” she continued.

It was revealed that these expenses are covered by household resources, including savings and income, for both outpatient and inpatient services.

Trends in healthcare utilization

The study also revealed interesting trends on how people utilize healthcare. People tended to choose hospital outpatient departments over smaller rural health units (R h Us) and health centers, possibly affecting investments in healthcare infrastructure and the integration of local health systems. e xpounding on Tolin’s insights, University of San Carlos Visiting

Research Fellow Dr. Alejandro N. h errin dug into this to determine if this partiality towards hospital outpatient departments is motivated by the breadth of services offered or perceived higher quality of care. h e noted that private health maintenance organizations ( h MOs) significantly reduce outpatient spending compared to Phil h ealth.

This could be due to historically limited outpatient benefits under Phil h ealth. These findings raise questions about the effectiveness of current Phil h ealth benefit packages and the role of supplementary insurance mandated by the Universal h ealth Care Act.

The PIDS study recommended several strategies to reduce the financial burden of NCDs. It emphasized the importance of expanding health insurance coverage, improving healthcare service quality, and increasing accessibility through innovative solutions like telemedicine. Moreover, the authors urged addressing the limitations of Phil h ealth’s NCD benefit package could significantly improve financial protection for patients.

It also called for a proactive approach by the patients. e arly detection through preventive screenings and early treatment initiation would help decrease disease progression, reducing preventable hospitalizations. To achieve this, improving primary healthcare across the Philippines is essential, Tolin emphasized.

DOH, agencies declare war vs HIV with U=U strategy

By Claudeth Mocon-Ciriaco

The Department of h ealth (DO h ), together with the Philippine National AIDS Council (PNAC), Center for Disease Control (CDC) in the Philippines program under the President’s e mergency Plan for AIDS Relief (P e PFAR), LoveYourself Inc., USAID- h IV e pidemic control ( e pIC) Project and the American International h ealth Alliance (AI h A) joined hands recently to promote the “Undetectable = Untransmittable” (U=U) campaign to spread awareness about the effectiveness of medications for the human immunodeficiency virus ( h IV).

This was the subject of a five-day workshop for health professionals, partner stakeholders and key populations last June 3 to 7, 2024 in Pasay City.

Among the key officials who participated in the workshop were h ealth Promotion Bureau Director Lorra Angelia DC. Sayson, PNAC’s e xecutive Director Dr Joselito Feliciano III, and U.S. CDC Philippines Country Director Dr. Rommel Lacson.  The workshop highlighted the concept of U=U where People Living with h IV (PL h IV) who maintain an undetectable level of the virus in their blood through treatment cannot sexually transmit the disease to others.

“Undetectable h IV is Untransmittable h IV. U=U. Let us fight the stigma associated with h IV so that more people living with the condition may start treatment that will enable them to live happy and healthy lives sa Bagong Pilipinas, kung saan Bawat Buhay Mahalaga,” expressed h ealth Secretary Teodoro J. h erbosa.

Muntinlupa local government unit intensifies preps against dengue

By Roderick L. Abad | Contributor

RAINY season is here, so cases of dengue fever is expected to rise as the risk of its transmission is highest during and immediately after this period from May to November.

In preparation for this, the City g overnment of Muntinlupa is ramping up its prevention efforts with a series of events aimed at engaging the community in various clean-up activities.

Under the local government’s volunteerism program called “Make Your City Proud” (MYCP), residents are encouraged to join in simultaneous clean-up drives across all barangays.  For the whole dengue prevention month this June, pocket events such as lectures on how to avoid getting infected by the disease will also be held in different communities.

Residents can sign up for the activities they want to participate in, volunteer, and earn points under the MYCP program that can be exchanged for products from Kenny Rogers, Pancake h ouse, grocery items, and more.

“Our fight against dengue requires a united effort from the entire community. Keeping our families safe is a shared responsibility, and I am grateful for our community’s active participation in these clean-up activities,” said Mayor Ruffy Biazon.

“Together, we can significantly reduce the risk of dengue and create a healthier environment for everyone,” he added.

Cases on the rise

LAT e ST data from the Department of h ealth (DO h ) reveal that around 67,874 dengue cases were reported from January to May of this year nationwide. Also, 60 percent of such

Crucial strategy

Th IS campaign, the DO h said, is a crucial strategy for stemming the spread of the virus to achieve the 95-95-95 global targets for h IV – 95 percent of PL h IV know their status; 95 percent of people who know their status receive treatment; and 95 percent of people receiving treatment have virally suppressed load

Despite the global trend of declining h IV incidence and AIDS-related deaths, the daily incidence was four times higher compared to the recorded h IV/AIDS and ART registry of the Philippines ( h ARP) from 2012 to 2023.

In response to this, policies, campaigns, expanded h IV testing, facilities, and treatment have been implemented to address this epidemic, including the DO h ’s dissemination and adoption of the U=U

campaign as part of scaling the health promotion efforts through the issuance of Department Circular No. 2024-0181.

An overview of the current h IV/ AIDS program status in the Philippines was also discussed in the workshop and served as the basis for message development, and communication strategies and interventions.

This objective of the workshop is to equip stakeholders to empower key populations and vulnerable groups with the knowledge and tools to effectively communicate the U=U message and advocate for increased access to h IV treatment and care.

The push for aggressive demand generation activities on U=U, h IV, and AIDS, ensures that the services are available in the community as espoused in the e ight-Point Action Agenda of the DO h

figure show no symptoms, 39 percent with warning signs, and one percent severe condition.

According to the DO h , dengue is spread through a virus from the bite of a female mosquito (Aedes aegypti).

While most dengue cases do not have warning signs, common symptoms include high fever, severe headache, body pain, nausea, vomiting and rashes. Such indications may be experienced four to 10 days after a mosquito bite.

The DO h reminded the public

Don’t ignore the liver in order to live a balanced, fulfilling life

By Rory Visco Contributor

HOW important is the liver? Next to the heart and the kidney, it is perhaps one of the most important but often least attended-to organs of the body.

According to Johns Hopkins Medicine in Baltimore, Maryland, USA, the liver is the one that regulates the presence of most chemical levels in the blood, and is responsible for excreting bile, the one that carries waste products from the liver. The liver is known to perform over 500 other vital functions, but it primarily breaks down harmful substances, it said.

Once these injurious substances are finally broken down, the by-products are then excreted into the bile or blood and in turn, the bile byproducts go to the intestine and are defecated from the body in the form of feces or human waste, while the by-products are filtered by the kidneys leave the body in urine form.

Despite these seemingly impressive functions, the liver is still often overlooked compared to its more glamorous counterpart organs in the body. The liver is considered to be one of the most crucial organs and is the only one that regenerates and regrows to its normal size even if 90 percent of it has already been removed.

Complications of liver disease

I N an article on ScienceDirect.com titled “Global burden of liver disease: 2023 update,” it noted that liver disease is responsible for the deaths of two million people per year, and the cause of death of one out of every 25 deaths globally.

“Deaths are largely attributable to complications of cirrhosis and hepatocellular carcinoma (liver cancer), with acute hepatitis accounting for a smaller proportion of deaths. The most common causes of cirrhosis worldwide are related to viral hepatitis, alcohol, and nonalcoholic fatty liver disease,” the article showed.

Data from the Philippine Statistics Authority (PSA) showed that liver disease is the cause of death of 27.3 cases per 1,000 deaths in the country in 2020, with liver cirrhosis responsible for 31.8 percent of liver-related deaths in the country, with malignant disease of the liver at 35.8 percent, and viral hepatitis at 5.3 percent.

“These statistics emphasize the pressing need for proactive interventions, including enhanced public health awareness, access to screening and treatment services, and preventive measures to mitigate the burden of liverrelated diseases and reduce associated mortality rates in the country,” according to Annalyn Lanzaga, in-house pharmacist at LAC (Leader in Antioxidative Control), a supplement provider in the Philippines, in an email interview with the B usiness M irror

Lack of awareness

WHE N asked if the number of liver-related deaths is due to lack of awareness or if people don’t seem to care, Evelyn Teo, Chief Marketing Officer at LAC Global, said a combination of different factors make liver health a bit under the radar.

“Liver disease is labeled as a silent killer. Unlike the heart or lungs, the liver doesn’t have any immediate, noticeable signs of trouble so the liver is not really a priority. But by the time symptoms arise, the damage might already be significant,” Teo said.

She said that another factor is lack of education, that people have not fully grasped the

value of the liver’s functions and its crucial role in maintaining overall health. “Essentially, it’s not necessarily just about excessive alcohol consumption but it’s about continuously adopting unhealthy habits like poor diet, a stressful lifestyle, lack of exercise, among others.” Lanzaga, for her part, said financial reasons may be a constraint in having their livers checked since it is not a priority for them, and symptoms don’t manifest early until it becomes severe. “Healthcare is still not very accessible to a lot of Filipinos especially to those from low-income families so this could prevent them from getting regular check-ups. Liver screening is also not offered upfront when you go to your regular check-ups unlike other tests. Teo countered the misconception that those prone to liver diseases are only those who eat fatty foods and drink alcohol excessively. “People might be surprised to learn that people who do maintain a healthy diet, regularly exercise and do not drink or smoke, are also susceptible to this. We hope that people become aware that building healthy habits is not limited to these but more on lifestyle changes such as managing stress levels, getting better quality sleep, and not skipping meals will make an impact on liver health.”

Lifestyle changes

L AN z AGA

echoed Teo’s observations, saying that fatty liver symptoms don’t usually manifest in its early stages so people may be a bit lax when it comes to their liver health. Experts have said that aside from necessary tests, self-care like healthy eating and lifestyle changes can be the best defense against liver disease.

“Making healthier choices will benefit you and your liver in the long run like getting better quality sleep, managing stress, incorporating more fruits and vegetables into your meals, etc. These are also modifiable changes that we can make in our everyday lives and being consistent and building on these habits is the key to maintaining this lifestyle. Most would think that only those with too much alcohol would have concern with their liver health but in fact sleep quality, high fat diet, sugar laden food and poor stress management can affect one’s liver health,” Lanzaga added.

TEO believes that nutrition education plays a critical role in empowering Filipinos to make informed choices about dietary and supplemental support, not only for their liver health, but also for their overall well-being. “That is why LAC, which has 47 physical stores in the Philippines and 250 globally, is actively helping consumers understand their unique nutritional requirements and choose the right supplements in-store.”

LAC’s “Nutrition for Life” campaign, Teo said, underscores the importance of holistic wellness, and that the company’s commitment encompasses physical, mental and emotional well-being as this extends to one’s liver health. The LAC “Activated Liver Protector,” she said, is specifically formulated to support liver health by providing antioxidant protection, detoxification support, and overall liver function enhancement, which is a blend of traditional Chinese medicinal herbs. “By providing convenient, high-quality supplements that address various aspects of well-being, alongside advocating for proactive health measures and promoting holistic approaches to wellness, LAC empowers every Filipino to lead a balanced and fulfilling life.”

Mandaluyong City leaders conduct feeding program for pregnant women

PR eg NANT women need more of certain nutrients. According to the World h ealth Organization, deficiencies in iron, vitamin A and iodine are the most common around the world, particularly in children and pregnant women.

to practice the 5S: Search and destroy mosquito breeding sites, secure self-protection measures, seek early consultation, support fogging and spraying in hot spot areas, and sustain hydration.

Most L g Us in the country nowadays, including Muntinlupa City, are accelerating their commitment to control the mosquito population.

Regular vector control activities, including targeted fogging operations in vulnerable areas, are being done with more vigilance.

In Mandaluyong City, cakes with micronutrient powder were given to pregnant women and children to combat malnutrition in the country.

Mayor Benjamin Abalos Sr. and Vice Mayor Menchie Abalos led the feeding activity on June 11, 2024 as part of the campaign of the National Nutrition Council (NNC) and the Department of health (DOh ) to promote micronutrient supplementation and food fortification.

Barangay Malamig Chairperson Cynthia Caluya and her team, includ -

ing Barangay Nutrition Scholars, used 810 pieces of chocolate cake, carrot cake, and banana cake, all mixed with micronutrient powders, and created an 8x16 feet Philippine flag at the lobby of Mandaluyong City h all. The cake was designed to also celebrate Independence Day on June 12, and under the nutrition campaign theme “Araw ng Kalayaan, Kalayaan sa Malnutrisyon.”

NNC-NCR Regional Nutrition Program Coordinator Mila Federizo, DO hNCR Nutritionist Dietician Josefino Serneo, and other agency staff witnessed the distribution of the micronutrientinfused cakes. The activity is part of the city government’s ongoing health program to fight malnutrition. Claudeth Mocon-Ciriaco

Editor: Anne Ruth Dela Cruz

A VOLUNTEER fogs a school room that is among the favorable breeding grounds for mosquitoes.

Young adults who fare relatively well after spending time in child welfare system say steady support from caring grown-ups made a big difference

By Julie Cederbaum University of Southern California

Family health alert: What is CKD?

SYOUNG

someone to listen to them vent or open doors, or just making them feel cared for in any way.

All of the people we interviewed were doing relatively well in life by the age of 18, in that they didn’t have significant mental health or substance use problems. We wanted to understand what factors contributed to their success.

“My grandmother was the key thing that helped me be successful in life to this day,” said one of the people we interviewed. “She’s given me, guess, routine.... That’s what’s helped me to this day.”

“I feel like teachers were really good at being understanding and open-minded toward, like, kids with different backgrounds,” another explained, “like kids who were raised in, like, rough environments or weren’t raised by their parents, or didn’t have certain resources other kids did.”

Every year, roughly 600,000 children spend some time in foster care, and about 23,000 of them age out of the system once they reach their 18th birthday.

Young adults leaving foster care are making two transitions.

Like everyone else their age, they’re turning into adults. But unlike most of their peers, they also have to start living on their own.

They are more likely to experience poverty, unemployment, homelessness and incarceration than other Americans their age.

Unlike young adults who have stable relationships with their parents or other guardians, young adults aging out of foster care often have to try to figure out basic skills on their own, like how to open a bank account, create a resume, apply for jobs or navigate financial aid forms for college. People leaving foster care are also less likely to graduate from high school.

THE CONVERSATION

UN Life of Canada (Philippines) Inc. and Boehringer Ingelheim (Philippines) Inc. recently renewed their expanded partnership at the Sun Life Centre in Bonifacio Global City. Designed to improve health outcomes and deliver greater value to Filipinos, the partnership now covers chronic kidney disease (CKD) awareness programs.

With more than 7 million Filipinos affected by CKD (https://tinyurl.com/mve5fhmz, ABS-CBN News) and the disease being among the leading causes of sickness and death in the Philippines (https://tinyurl.com/5y32e9kn, Department of Health), it is important that strategic and meaningful partnerships are forged to make a stronger impact for Filipinos. Sun Life and Boehringer Ingelheim recognize this problem as a trusted name in financial security and a global innovative leader in healthcare, respectively.

Ermel Teodoro, Interim General Manager Boehringer Ingelheim Philippines, said, “We collaborate with partners who we see have a common goal in making a real difference and a lasting impact to the lives of Filipinos in patient advocacy and disease awareness now, and for generations to come.”

Sun Life Philippines Country Head and CEO Benedict Sison said, “Since the beginning of our partnership in 2022, Sun Life and Boehringer Ingelheim have remained steadfast in driving towards our shared goal of empowering Filipinos to live healthier, fuller lives.”

The scope of the companies’ partnership programs includes awareness campaigns on common respiratory conditions such as chronic obstructive pulmonary disease to rare respiratory conditions like pulmonary fibrosis and interstitial lung diseases. There are also non-communicable diseases such as diabetes and hypertension, which are two of the primary conditions that often lead to CKD.

“This renewed tie-up allows us to go beyond providing financial products,” adds Sison. “By working together with Boehringer Ingelheim, we can empower the nation to take a more proactive approach in protecting their overall health.”

Teodoro also stated that obesity and sedentary

lifestyle are also high risks for CKD. “Forty percent of Filipinos are suffering from obesity. Sedentary lifestyles, (such) with limited movements or activities, can lead you to obesity and therefore chronic kidney disease” (Balita, May 27, 2024).

Now that the partnership has expanded to cover CKD, Boehringer hopes to reach more Filipinos and raise awareness on the risks of CKD because according to Teodoro, the symptoms for this disease will only show up in the late stages when CKD has severely progressed (Mayo Foundation for Medical Education and Research, May 27, 2024). The best preventive measure against CKD is to get tested for it regularly. There is a simple two-step screening process to check kidney health. First is the estimated glomerular filtration rate (eFGR), a blood test that measures the waste called creatinine in your blood; second is the urine albumin-creatinine ratio (uACR) test that uses a urine sample to measure albumin, or protein level present in your urine (https://tinyurl. com/3vkufrx3, National Health Service).

Making healthy lifestyle decisions is a must, but there’s only so much we can do when there are inevitable factors such as family history and aging. That’s why getting tested regularly is the best way to keep your kidneys healthy. Teodoro reminds everyone to “let your dependents, friends and family know about the silent killer that is CKD. Reach out to your doctor as soon as possible and bring a loved one or two.”

Boehringer Ingelheim is working on breakthrough therapies that transform lives, today and for generations to come. As a leading researchdriven biopharmaceutical company, the company creates value through innovation in areas of high unmet medical need. Founded in 1885 and familyowned ever since, Boehringer Ingelheim takes a long-term, sustainable perspective. More than 53,000 employees serve over 130 markets in the two business units, Human Pharma and Animal Health. More information is available at www. boehringer-ingelheim.com.

Celebrating 50 years of providing immunity to generations of Filipino kids

Unilab Pediatrica General Manager; Marian Rivera-Dantes; Mabeth Roderos, Unilab Pediatrica OTX Marketing Director; Andi Manzano; and Rachel Mistal, Ceelin Brand Manager

FROM holding your baby in your arms for the first time to running after your toddler in the playground, early fatherhood is full of moments that make any young dad feel invincible. This seismic shift in your life motivates you to become a better man. Having your own mini-me or little princess makes you recalibrate your life choices, as a provider and protector of the family, so now you’re chasing promotions or business ventures while ensuring mom and kids are safe and happy. Hey, have you thought about your health lately?

Joel A. de la Rosa, MD, from the Section of Cardiology of the top hospital in the Philippines Makati Medical Center (MakatiMed, www.makatimed.net.ph), points out that men often have a bad habit of relegating doctor’s appointments to the backburner. “Many robust young men put off going to the doctor until it’s too late. Unlike women who have regular gynecologist visits, men simply aren’t encouraged to see a doctor regularly. But refusing to recognize your current health challenges and your vulnerability to certain conditions can cause bigger health problems that can alter your life,” says Dr. de la Rosa.

MakatiMed underscores that one common health problem that young men should watch out for is ischemic heart disease, or when the heart doesn’t get enough blood and oxygen because of the narrowing or hardening of the arteries. “It is the top killer disease in the Philippines. The risk for this disease begins developing when you’re in your 20s or 30s when most people are also exposed to chronic stress, which can lead to persistent elevation in blood pressure, commonly known as hypertension, damaging arteries, and building plaques,” explains Dr. de la Rosa.

OVER the past five decades, parenting styles have evolved from strict discipline to building meaningful connections. Through it all, ascorbic acid supplement for kids Ceelin has remained as moms’ constant companion that endeavor to give their children the best start in life, one full of health, happiness, and resilience against illnesses.

As it continues to advocate for a protected childhood, Ceelin and its promise of immunity are highlighted in its newly launched television commercial (TVC) as part of its 50th anniversary celebrations. The video shows a healthy kid exploring the world, with her mother keeping her strong and protected with Ceelin, as her own mother experienced when she was young.

A grand celebration has also been recently held, attended by luminaries of parenting and healthcare, including multi-hyphenate and Ceelin

Why great young dads care about their health

brand ambassador Marian Rivera-Dantes, who shared why Ceelin serves as her trusted partner for immunity for her kids.

“Importante para sa akin ang kalusugan ng mga anak ko, kaya naman kasama ko ang Ceelin sa pagpapalakas ng immunity ni Zia and Sixto para sa kanilang pang araw-araw na adventures at activities bilang mga bata, pati na rin kapag may sakit sila. Mahalaga sa akin na palakasin ang immunity nila may sakit man sila o wala.” Marian said.

To mark its 50th anniversary, Ceelin has pledged a total of P500,000 worth of products to Caritas Philippines, its long-term community partner, making the celebration more meaningful. This is part of Ceelin’s continued effort in sharing the gift of immunity to Filipino children.

More information about the brand is available at Ceelin’s social media accounts on Facebook, Instagram and TikTok.

Young dads should be vigilant against cancers affecting the lungs, liver, colon/rectum, prostate, stomach, and leukemia, as these have emerged as the most prevalent types of diagnosis for Filipino men. “Many of these cancers develop over time because of unhealthy habits like smoking, eating too much processed and fatty foods, and a lack of physical activity,” notes Dr. de la Rosa.

Type 2 diabetes is another consequence of poor lifestyle choices. “Beware of symptoms like constant thirst, constant urination, fatigue, dizziness, weight loss, and slow-healing wounds, especially for those who eat a lot of refined carbs, sugars and saturated fat,” cautions Dr. de la Rosa.

Heart disease, cancer, and type 2 diabetes are serious health conditions that greatly affect one’s quality of life.

“These diseases eat up not only your health but also precious time with your family and your resources, too. Fortunately, it’s never too late. You can always start investing in your health today,” highlights Dr. de la Rosa.

Managing stress, pursuing a healthy life by eating more fruits and vegetables, spending more time working out, as well as taking relevant routine and diagnostic tests, and even spending quality time with the family are some concrete steps young dads can take to improve their wellness.

“Dads, your kids are counting on you, from diaper changes to school runs to solving math to navigating life. Now, maintaining health is a hallmark of a great, responsible father. So, prioritize your well-being and see a doctor regularly. You owe it to that little baby who made you a better man,” emphasizes Dr. de la Rosa.

PHOTO

Anti-Agricultur A l Economic S A bot A g E lA w l A ud E d, highly- A nticipA t E d for E nforc E m E nt

JTI Philippines has lauded both the Senate and House of Representatives for their ratification of the Bicameral Conference Committee Report on the AntiAgricultural Economic Sabotage bill that classifies smuggling of tobacco and other agricultural products as economic sabotage that carries severe punishments.

Last May 22, 2024 the two chambers ratified the reconciled version of the bills before Congress adjourned. It will now be transmitted to the Office of the President for the signature of President Ferdinand Marcos Jr.

The bill provides, among others, that

smuggling tobacco and cigarettes worth at least P3 million will be considered as economic sabotage, a non-bailable offense. Its imminent enactment will show smugglers and their accomplices that the government is serious in its commitment to solve the worsening illegal tobacco trade problem, according to JTI General Manager (GM) John Freda.

“Once the law is ready for full implementation by the mandated agencies, the government has an additional potent weapon in its arsenal to wage war against smuggling syndicates,” he said. “We are looking forward to its full implementation. The crime

of tobacco smuggling is indeed an act of economic sabotage because, put simply, it robs the nation’s coffers. Not only does it deprive government of much needed tax revenues but illegal trade cheats everyone: society, consumers and legitimate businesses.”

Congress and the Bureau of Internal Revenue (BIR) estimate that the annual foregone losses from illicit tobacco trade range from P60 billion to P100 billion.

Freda underscored that cigarette smuggling is a complex problem that affects a lot of industries, sectors, agencies and livelihoods—from agriculture, tobacco farmers, tobacco-growing local government units,

IABC Highlights Vital Role of Banks in Advancing Sustainability Initiatives

TH e International Association of Business Communicators (IABC) Philippines recently hosted the second episode of its CommChat Series, focusing on the pivotal roles of banks in advancing sustainability within the Philippines.

Titled “Converging Paths: The Role of Banks in Cocreating a Sustainable Society,” the webinar featured Ceejay Hernandez, Vice President of Corporate Sustainability at HSBC, as guest speaker.

During the discussion, Hernandez emphasized how financial institutions can influence borrowers to adopt sustainable practices through innovative financial products such as green financing. He highlighted the significant impact that banks have on directing industries towards more sustainable operations by strategically allocating funds to lower-emission sectors.

Hernandez emphasized that although banks might seem removed from the need to decarbonize as their Scope 1 and Scope 2 emissions are considerably low, their main Scope 3 emissions come from financed emissions. e ssentially, these are the emissions generated by the investments banks make.

“Where the bank allocates money, that industry will grow. We provide capital for financing. Wherever we put money, emissions follow,” Hernandez explained.

He emphasized the crucial role that banks and the financial industry play in directing industries toward more sustainable operations.

Hernandez noted that the Philippines presents

a significant opportunity to reduce emissions in various industries. In the energy sector alone, the Philippines in its Philippine e nergy Plan of 2020 to 2024, renewable energy capacity target is expected to reach 50 percent of the energy mix by 2040, which constitutes to a total of 81GWH capacity buildout.

He clarified that merely moving funds from high-emitting sectors to lower-emitting ones is not sufficient. Instead, banks need to transition with their clients towards a low-emission economy.

This transition focuses on sustainability in both operational and climate contexts, aiming for profitability alongside environmental responsibility.

“It is the role of the sector to partner with corporates and guide them toward a more sustainable path, not by exiting but by transitioning those companies toward a low-emission and more resilient society. The financing sector has this main role, and we hope to contribute to our society becoming more sustainable,” he added.

With increasing mandatory requirements for the disclosure of sustainability metrics and financial data, sustainability and financial viability must go hand in hand. Hernandez highlighted that integrating sustainability without compromising profitability is essential for competitiveness.

He shared a recently concluded survey done by HSBC using 130 reports from 11 research providers found all of them will consider the inclusion of

e SG factors in their reports prioritizing mainly decarbonization, and 6 mentioned they include e SG in their valuation model. He cited a recent survey from Bain and Company indicating that 90 percent of respondents are willing to pay for eco-friendly products, reflecting a shift in consumer sentiment. Therefore, financing the right industries is crucial for ensuring profitability.

The financing sector must enable this transition by providing loans for sustainable initiatives. Hernandez outlined the primary financial solutions banks offer to support sustainability transitions, including green financing for eligible projects, social financing for socially eligible projects, sustainability-linked loans for general corporate purposes, and sustainable supply chain financing for general corporate purposes. Avoiding greenwashing and achieving net-zero emissions is essential. These financial solutions are designed to increase green investments and help companies transition to sustainable operations.

The CommChat Series is a precursor to the prestigious Triple “P” e SG Awards—People, Planet, and Progress—that celebrate organizations demonstrating outstanding commitment to e nvironmental, e conomic, Social, and Governance ( ee SG) principles. Through these discussions, IABC Philippines aims to highlight the critical role of effective communication in promoting the sustainability narratives and achievements of businesses.

The series will continue with the next CommChat session scheduled for June 2024, promising more engaging discussions and valuable insights from industry leaders on driving sustainable practices across various sectors.

ArenaPlus backs RunRIO in support of first pride run

AR en A Plu S , your 24/7 sports betting app, showed its support for the l GBTQIA+ community’s efforts toward pursuing equality during the R un RIO press conference about the first Pride Run 2024 held at lugang Cafe, SM Megamall last May 29, 2024.

The R un RIO press conference saw ArenaPlus standing alongside other advocates of inclusivity and wellness, particularly Pantay Chairperson Thysz e strada, loveYourselfPH e xecutive Director Ronivin Pagtakhan, RunRio President and C e O Rio de la Cruz, SM Supermalls SVP for Marketing Joaquin

San Agustin, BingoPlus Foundation e xecutive Director Angela Camins Wieneke, and Metro Manila Pride Organization Community e ngagement and Management Co- lead Ashley Jaye Milag. As a copresentor of Pride Run 2024, ArenaPlus also gave away brand merchandise to those present at the conference.

Pride Run 2024 is scheduled to take place on June 22, 2024 at SM Mall of Asia. Runners, both casual and serious, have the option to join one of three categories for the event: 3K, 5K, and 10K. Attendees will be given Pride Run singlettes

for the event and special finisher’s medals. Anyone unable to physically take part also have the opportunity to join a virtual race instead. Additionally, queer artists and drag queens will be providing music and entertainment during the event’s evening awarding ceremonies.

As a brand focused on making sports and entertainment more accessible to the Filipinos, ArenaPlus understands the importance of advocating for safe spaces where everyone can be themselves without hesitation. R un RIO’s Pride Run 2024 aligns with the brand’s dedication to inclusivity, community, and wellness. The steadfast commitment ArenaPlus has for making sports and entertainment relevant and inclusive expands to a broader reach as it unhesitatingly stands with a community that has always championed a more open environment for everyone.

DigiPlus is the fastest-growing digital entertainment company in the country. It operates the country’s leading digital platforms BingoPlus, ArenaPlus, PeryaGame, Tongits+, and BingoPlus Poker, with more to come. ArenaPlus, the leading sports betting app that provides various sports live streaming in the Philippines, serving as the leading sports entertainment gateway of Filipinos. For more information, visit: www.arenaplus.net.

retailers and consumers, to law enforcement units and revenue collection agencies.

He also emphasized that proceeds from illegal tobacco sales often finance bigger criminal activities such as corruption, the smuggling of drugs and weapons, human trafficking and terrorism.

The GM congratulated Sen. Cynthia Villar and Rep. Wilfrido Mark Enverga, chairpersons of the Senate and House committees on agriculture, respectively, for successfully shepherding the proposed law in the committee level to the bicameral conference panel. Under this bill, tobacco smuggling as

economic sabotage carries the heavier and heftier penalties of life imprisonment and a fine of thrice the value of the agricultural and fishery products subject of the crime.

The proposed measure repeals the AntiAgricultural Smuggling Act of 2016 with tobacco—either in its raw or finished form— joining rice, sugar, corn, pork, poultry, garlic, onion, carrots, fish and “cruciferous vegetables” on the “economic sabotage” list. Its Senate version was principally authored by Villar while the House bill

Megaworld Hotels & Resorts partners with AIA Vitality to keep associates healthy, motivated

WITH nearly 3,000 associates under the Philippines’ largest hotel operator, Megaworld Hotels & Resorts, signs off on a partnership with AIA Vitality for an extended group life insurance protection policy for the benefit of the hotel group’s employees.

The best part is that all hoteliers across MHR’s departments like the front office, culinary, F&B service, housekeeping, security, and engineering get to enjoy access to the AIA Vitality App. Downloadable via Google app or the Apple app store, the AIA Vitality App claims to be the only science-backed wellness program in the Philippines that rewards its subscribers with points after every mindful health choice.

Associates earn points from the moment they sign up, conduct an online health check, and note their annual physical exam results. n ot only that, but with one more daily activity, employees also earn from accomplishing their required daily steps, sleeping hours, and nutrition in-take just to name a few. With more points, they have the chance to avail themselves of premium insurance policies, redemption perks, and withdrawable cash credit.

During their exclusive partnership launch held at the Hotel lucky Chinatown last May 29, 2024, Divine delos Reyes, Head of People Management Department shared, “Our aim is to improve the healthy habits of our associates that will empower them to do better for themselves, family, community,

and create the balance they need to live a happy life.”

Hyping up the entire event, n ikki Torres, Holistic Wellness Coach shared with all attendees’ timely reminders on how to stay mindful and fit daily. She ends her segment with a 30-minute high intensity interval training session that got everyone fired up.

Kats Jacum, AIA Vitality’s head of health and wellness, then walked everyone through a thorough app run down to guide all onsite and online participants with the necessary know-how to start their journey.

Cleofe Albiso, Managing Director of MHR, reminded employees of the “Circle of Happiness,” the hotel group’s culture program. She shares “to stay happy, we should always be deliberate in taking care of ourselves because it’s our best way to have the right attitude as we take care of our guests in our hotels. We do it for our loved ones and all in all to say thank you to God who gave us our lives.” MHR’s participating hotels included their associates from their 13 properties, across seven brands namely the Savoy and Belmont Hotels in Manila, Mactan Cebu, and Boracay; Richmonde properties in e astwood, Ortigas, and Iloilo including Kingsford Hotel, Hotel lucky Chinatown, and Twin l akes Hotel in Batangas. Opening soon is their Grand Westside Hotel, noted to have 1,530 rooms and expected to have the greatest number of associates during its full operation.

MASA accepting business leader applicants for training programs

IVI n G up to its “trabaho for every Juan” mission, the Manpower for Advertising Services Agency Inc. (MASA) is accepting applicants for its management training programs.

One of the leading below-the-line and activation agencies in the Philippines, graduates of business courses can sign up for the company’s  Accelerated Management Program (AMP), Standard Management Trainee Program (SMP) or Regular Management Program (RMT).

The Accelerated Management Program (AMP) is a six-month intensive training for graduates of business courses. In collaboration with the u niversity of Oxford, it combines theory with actual experience for a better understanding of business and management functions.

For graduates of non-business courses, MASA has the Standard Management Trainee Program. which runs for 12 months. “This is equivalent to a four-year course, but we were able to compress it to one year,” explains MASA Vice President for Business Development and Operations, Stephene Roy C. Condino also known in the industry as Doc Bigs.  n on-college graduates also have a chance to become business leaders with MASA’s Regular Management Program (RMT) which runs for 13 months. “This is what we call ‘trabaho for every Juan’ because everyone matters sa MASA Group. If

you are a high school graduate and you joined the program, you can now work as a manager,” he said.  MASA is a family-owned company, but Doc Bigs is quick to clarify that the operational system is patterned after multinational organizations. “I want to describe it as a hybrid.  We have management trainings like a multinational company, but we maintain the family culture. I don’t want to leave that behind because it makes our employees proud. Yes, it’s very Western and we are different from local companies because we put in processes to create more leaders for the future.”

Work is always fun at MASA. Apart from their day-to-day tasks, employees are encouraged to join exercise classes after work or enjoy their favorite drink at the ground floor coffee shop. They even have a PlayStation at the lounge. Recently, the entire team spent the holidays in Japan. “I have a very positive mindset, and I want to instill that in everyone. e mployee engagement is very important for us.”

Doc Bigs has a Doctorate from the u niversity of l iverpool, post-doctorate fellowship from the u niversity of Oxford and several programs from the london Business School. He completed his MBA from Ateneo de Manila.

As if running several companies is not enough, he teaches business, marketing, and innovation courses at De l a Salle and Ateneo.

Ceejay Hernandez (left) discusses the bank’s role in sustainability in the finance industry during the second episode of the CommChat series with d ave

Leading the commitment to develop more healthy habits are the leaders of MHr who are, from left, Claire Bernabe, Head of Sales and Strategic Partnerships, divine delos reyes, Head of People Management and development, Cleofe albiso, Managing d irector, eden decano, g roup director of Finance, art Boncato,

Koica ODA to further boost PNP’s security, IT capabilities

THE Korea International Cooperation Agency (Koica) Philippines’ Office organized the kick-off event for a project involving the public administration sector.

The $6.9-million “Establishment of Criminal Investigation Data Management and Analysis System of the Philippine National Police (20232028)” is a key overseas development assistance (ODA) project of the Republic of Korea (South Korea) and the Philippines. Officially launched as of June 3, the project aims to enhance the security capabilities of the Philippine National Police (PNP). Said project will be rolled-out through the following major activities: Establishment of the Master Plan for introducing an Integrated Criminal Investigation Data Management System; Development of an Integrated Criminal Investigation Data Management System; Data Cloud Center remodeling for the operation of an Integrated Criminal Investigation Data Management, as well as analysis system and equipment supply; as well as Capacity Building Programs of the PNP Investigative and Criminal Data Management System users,

Citi hosts US trade, investment mission

DELEGATES of the historic Presidential Trade and Investment Mission from the United States were recently hosted by Citi Philippines to relay its commitment to help American companies in their foray into the country.

Around 60 officials attended the luncheon, which included delegates from 14 American companies and organizations, as well as participants from various national government agencies. The event was organized as part of the visit of US Secretary of Commerce Gina Raimondo, who led a delegation of senior executives from prominent American businesses and nonprofit organizations with a first-of-its-kind trade and investment mission to the country. The contingent delivered on US President Joseph Biden Jr.’s commitment during President Ferdinand R. Marcos Jr.’s visit to Washington D.C. in May 2023 for relevant sectors to link-up in advancing economic ties of the two allied nations. Roderick L. Abad

including information technology (IT) experts.

The Korea National Police Agency (KNPA), which has experience in devising and operating the “Korea Information System of Criminal Justice Services (KICS),” was selected as the project management consultant of the Koica-sponsored project.

Country Director Kim Eun-sub of Koica mentioned past cases of cooperation between the latter and the PNP, then emphasized the significance of the project which will focus on crime prevention and investigation, plus IT capacity-building in the Philippines. He also requested the local police’s close cooperation in the future with its Korean counterparts to achieve successful project results.

Superintendent Byun Gyu-taek, representing the KNPA, expressed his pleasure in participating in the project through Koica, following previous collaborations with the PNP. He committed to doing his utmost in enhancing the investigative

capabilities of the Philippine police by introducing the next-generation information system.

In response, Police Brigadier General Matthew P. Baccay, who is the acting director of the PNP’s Directorate for Investigation and Detective Management, mentioned recent hacking incidents within the PNP’s internal system, as he underscored the timeliness and importance of the project.

He expressed high expectations for the project outcomes through cooperation with Korea, which he said has been “a key partner in security collaboration.”

With the kick-off event, the project to establish the “Integrated Criminal Investigation Data Management

System” in the Philippines is now in full swing. Koica plans to leverage on the expertise of the KNPA to support various activities, including master plan consulting, development of the ICIDMS, and training programs for system operation and management personnel.

2024 marks the 75th anniversary of diplomatic relations between Korea and the Philippines, and the 30th year of the establishment of Koica’s Philippine office. In this significant year, the agency said in a statement that it is committed to strengthening the national government’s capacity in providing inclusive and responsible public-administration services.

Global survey cites PHL’s positive economic prospects amid risks

FURTHER analysis of the AHK

World Business Outlook Survey for Spring 2024 revealed a promising outlook for businesses engaged in German-Philippine economic ties, particularly when compared to Asean peers and the global landscape. However, the study also highlighted certain risks that need to be addressed to sustain this positive momentum.

Currently, half of the respondents reported a satisfactory business situation, while 61 percent forecast optimistic business development over the next 12 months.

The survey predicted a positive trend in the local economy for the upcoming year, as 55 percent expressed confidence. Moreover, 44 percent of participating companies anticipate higher local investments, while 61 percent plan to expand their local work force—a positive trend since Spring 2022.

When compared with its Asean counterparts, the Philippines stood out with superior results across the board.

Furthermore, in global comparisons, the country excelled in local economic development and employment, with the latter consistently ranking highest since the Fall 2023 survey.

“The survey’s findings underscore generally positive economic expectations for the Philippines, especially when compared to its Asean neighbors and global [peers],” said GPCCI executive director Christopher Zimmer. “Nevertheless, addressing key concerns is essential to maintaining and enhancing the country’s competitiveness.”

Risks and challenges

DESPITE the optimistic outlook, potential risks could temper economic growth. German businesses operating in the Philippines highlighted concerns related to economic policy conditions, high energy prices, and supply chain disruptions, along with infrastructure challenges. Additional risks, such as geopolitical tensions, bureaucratic red tape, and inflation, were also noted.

Stacked with Asean neighbors, the Philippines exhibited heightened concerns on infrastructure, energy costs, and legal certainty. Notably, infrastructure issues remained the most vital challenge for the country when compared on a global scale.

“We hope the government will prioritize the completion of promised infrastructure projects, tackle high energy costs, and promote ease of doing business,” said GPCCI president Marie Antoniette Mariano. “We also hope these issues will be addressed by the President in his next State of the Nation Address.”

“These measures are crucial [in capitalizing] on the positive momentum identified by companies involved in German-Philippine business relations,” Mariano shared. “We continue to develop [linkages] with the Philippine government to further address these concerns…our chamber is open to collaborating with more government stakeholders.”

PHL urged to form ties with Australia to bolster its stance in disputed waters

By Rizal Raoul S. Reyes

THE Philippines must partner with like-minded states to navigate rising tensions in the disputed waters while it enhances maritime and economic security.

In a recent forum organized by international think-tank Stratbase ADR Institute in partnership with the Embassy of Australia in the Philippines, acting deputy ambassador Johanna Stratton emphasized the “unprecedented” maritime cooperation between Manila and Canberra, as she pointed out the need for alliances to ensure “a stable and secure Indo-Pacific region, where our maritime and marine environments are protected.”

“Australia is deeply concerned when countries pursue claims, or engage in activities that are inconsistent with international law; when they undertake activities that are provocative and destabilizing; when they don’t respect the freedoms and rights of others; and when they advance their claims by intimidation or coercion,” Stratton said in the hybrid event “Forging Bonds: Exploring the Nexus Between Maritime Security and Economic Security” in Makati City.

International studies professor Renato de Castro, who is a trustee and program convenor of Stratbase, said China’s increased incursions in the West Philippine Sea/South China Sea (WPS/SCS) should be seen not merely as a territorial dispute, but as a case of “a maritime power bent on expansion.”

He said the Marcos administration’s “Comprehensive Archipelagic Defense Concept (CADC),” which is aimed at beefing up the Armed Forces of the Philippines’ capabilities in countering China’s maritime expansion, faces technical and financial constraints, thus the need for allies.

“The [United States] and Australia stand out as the most capable and willing security partners in assisting the Philippines in developing its capabilities to transform the CADC into a viable defense strategy,” said De Castro, as he noted that both countries are major naval powers in the IndoPacific Region.

To leverage on the Philippines’s treaty alliance with the US and its security partnership with Australia, the professor insisted that the country should push for the trilateral “Australia-PhilippinesUnited States Security Partnership” that can advise, assist, and equip the Philippines in developing the necessary technical and material capabilities to implement its CADC.

He also urged for the enhancement of the Australia-Philippines-US trilateral military exercises that will invite Australian troops to Enhanced Defense Cooperation Agreement sites, and engage the two countries in security dialogues.

Free Indo-Pacific STRATBASE president Victor Andres Manhit, for his part, agreed that bolstering ties with partners like Australia is a strategic move: “We…believe that enhanced cooperation with like-minded states is key to the Philippines achieving both maritime and economic security and ultimately, promoting a free and open Indo-Pacific. Amid geopolitical and geoeconomic challenges, such partnerships are strategically necessary to foster regional stability and prosperity.” Meanwhile, retired rear admiral Rommel Jude Ong voiced the need to go beyond “ceremonial patrols every three months,” then advocated for continuous 24/7 patrols.

For Prof. Ma. Carmen AblanLagman of De La Salle University, scientific collaboration can serve as a diplomatic tool to foster peaceful relations, build confidence, and promote mutual understanding even in times of conflict.

“As tensions in the [WPS/SCS] escalate, collectively addressing issues such as managing fish stocks, reducing biodiversity loss, preventing marine pollution, and extending humanitarian assistance in response to disasters without prejudice over territorial claims may be needed to build trust among agencies,” she explained.

Distrust

CHINA’S increased aggression in the region has led to a staggering 91-percent distrust rating among Filipinos, based on a nationwide survey conducted by OCTA Research involving 1,200 respondents in March. Its president Ranjit Rye presented the results in the same forum.

Majority, or 76 percent of Filipinos see China “as the country posing the greatest threat to the Philippines,” Rye added, while 61 percent support the Marcos administration’s response to the dispute.

Nonetheless, most Filipinos seek further government action, with 73 percent preferring assertive measures such as expanded naval patrols and troop presence in the WPS/SCS over diplomacy and other peaceful methods (72 percent). Moreover, 68 percent of respondents want to strengthen the Philippine military’s capability to protect the country’s territories.

SWISS ENVOY MEETS THE PRESS Ambassador Dr. Nicholas Brühl imparted

KOICA and PNP officials converge for their new tech-based project.

Sarines siblings shine in JPGT Pinewoods

Sports

B8 Thursday, June 13, 2024

mirror_sports@yahoo.com.ph

Editor: Jun Lomibao

AROADMAP to follow during weightlifting competition at the Paris Olympics: Storylines to Follow DOPING troubles have dogged weightlifting, to the point the IOC threatened to remove it from the Olympic program beginning in 2028. It has had a reprieve and been confirmed for Los Angeles after leadership changes and attempted reforms, but drug testing will be heavily scrutinized in Paris. The Philippines has three weightlifters in the Paris Summer Olympics.

John Ceniza, No. 4 in the International Weightlifting Federation rankings at 61 kg, is seeing action for the Philippines along with Elreen Ando and Vanessa Sarno.

Sarno is No. 5 in the women’s 71-kg division, while Ando is ranked eighth in the women’s 59-kg category.

The last US men’s weightlifting

LSALLE’s Kevin Quiambao and UST’s Kent Pastrana banner the Mythical Teams to be honored in the Collegiate Press Corps Awards Night presented by San Miguel Corporation on June 17 at the Discovery Suites Manila in Ortigas, Pasig. The 5-foot-7

medalists were Mario Martinez and Guy Carlton in 1984 and the last to win gold was Paul Anderson in 1956. Hampton Morris stands the best chance of adding a new chapter to that history, though defending champion Li Fabin of China is formidable competition. China has another chance to dominate in weightlifting after leading the Tokyo Olympics with seven gold medals and eight overall. No other country had more than one gold.

Athletes to Watch

n Hampton Morris, United States: At 20, the Marietta, Georgia, native will be the youngest American weightlifter to compete at the Olympics since Cheryl Haworth in 2000. Morris broke the clean and jerk 61-kilogram world record by lifting 388 pounds (176 kilograms) at a World Cup event in Thailand earlier this year.

Lasha Talakhadze, Georgia:

Having set 26 world records over the course of his career, the 30-year-old back-to-back Olympic champion in the heaviest weight class is returning to try for a three-peat. He’s back after missing the European championships earlier this year because of a knee injury.

n Maude Charron, Canada:

The 64 kg gold medalist in Tokyo is again one of the top contenders, now in the 59 kg division. The 31-yearold from Quebec is just one of five Canadians—men or women—to win an Olympic medal in the sport.

n Yekta Jamali, Refugee Team: From Iran initially, she fled to Germany two years ago because she faced discrimination for being a woman in the sport. A world junior silver medalist, Jamali is not even 19 yet and hopes to win a medal as part of the IOC Refugee Team.

Key Dates

n August 7: Men’s 61kg and women’s 49kg

n August 8: Women’s 59kg and men’s 73kg

n August 9: Men’s 89kg and women’s 71kg

n August 10: Men’s 102kg, women’s 81kg and men’s +102kg

n August 11: Women’s +81kg

Reigning Champions

Men

61kg: Li Fabin, China.

67kg: Chen Lijun, China.

73kg: Shi Zhiyong, China.

81kg: Lu Xiaojun, China.

96kg: Fares Ibrahim, Qatar. 109kg: Akbar Djuraev, Uzbekistan. +109kg: Lasha Talakhadze, Georgia.

Women

49kg: Hou Zhihui, China.

55kg: Hidilyn Diaz, Philippines.

59kg: Kuo Hsing-chun, Taiwan. 64kg: Maude Charron, Canada.

76kg: Neisi Dajomes, Ecuador.

87kg: Wang Zhouyu, China. +87kg: Li Wenwen, China.

VITO SARINES played steady down the stretch to win the boys’ 11-14 title, while his sisters Lisa and Mona took the top two podium spots on the girls’ side in the Junior Philippine Golf Tour Luzon Series 3 Wednesday at the Pinewoods Golf and Country Club in Baguio City.

Tied with Race Manhit going into the par-4 18th, Vito clinched victory by securing a par while his rival stumbled with a three-putt miscue after missing the green.

Vito wound up with an 80 for a 244 in the 54-hole event two win by two strokes in tough conditions. Play was halted for 10 minutes due to fog at mid-morning.

Manhit, who had battled back from six strokes down to force a tie with a

Bulldogs’ seven-year reign in UAAP women’s basketball.

Pastrana will be joined her teammate and Season 86 Finals MVP Tantoy Ferrer, FEU Lady Tamaraws’ Josee Kaputu, Rookie of the Year in UP Fighting Maroons’ Favour Onoh, and Season MVP in Ateneo’s Kacey Dela Rosa in the Mythical Team.

Quiambao, for his part, clinched a double by becoming the UAAP Season MVP and Finals MVP, leading the Mythical Team of the rites supported by the Discovery Suites as official venue partner and Jockey as minor sponsor. The 6-foot-7 forward led the Green Archers past the University of the Philippines Fighting Maroons for their first title since 2016.

Mapua’s Clint Escamis, the NCAA Season 99 Rookie of the Year-MVP, UP’S Malick Diouf, Lyceum’s Enoch Valdez, and former San Beda Red Lion Jacob Cortez complete the CPC Men’s Basketball Mythical Team.

CBy Josef T. Ramos

OACH Tim Cone said Gilas Pilipinas will start training on June 21 and leave just a few days later to play friendly matches abroad ahead of the Fiba Olympic Qualifying Tournament in Latvia.

AJ Edu, meanwhile, has been ruled out after earlier being reported to be on track to rejoin the team.

Cone, who steered the Philippine men’s basketball team to gold medals in the 2022 Asian Games and 2023 Southeast Asian Games, confirmed the developments to BusinessMirror Wednesday.

“We will start training on June 21 and leave for our friendlies

against Turkey and Poland on June 25,” Cone said, adding that reserves veteran Japeth Aguilar and power forward Mason Amos are already part of the 12-man squad after ruling out big man Edu and Jamie Malonzo.

“AJ Edu has been ruled out because of knee problems along with forward Jamie Malonzo with his calf surgery. To replace them, Japeth Aguilar will continue with the team as the captain and Mason Amos will fill the spot of Jamie Malonzo,” Cone added.

The first few days of the training session will be behind closed doors at the Inspire Sports Academy in Calamba, Laguna.