BusinessMirror March 01, 2022 by BusinessMirror

Farm sector tracks Ukraine fallout

‘Close borders, cut Omicron exposure risk’ T By Jasper Emmanuel Y. Arcalas @jearcalas

By Cai U. Ordinario

HE country’s farm sector is

with their loved ones, while forbracing for the impact of the @caiordinario eigners living in temperate regions Eastern Europe conflict that is usuallyanticipated want to to relax driveinuptropical the prices of LOSING the country’s borders countries the Philippines. This feedlike materials that could lead to more is one of the most immediate year’s influx of OFWs is expected to expensive meat products for Filipinos. fromofthe hog,were poultry courses of action the governbe heavierLeaders since many them cornhome industries the Busiment must take to prevent the latunable and to come for thetold holidays nessMirror est Covid-19 variant, Omicron, from in December 2020. that the government provide farmers with subsireaching Philippine shores, accord“Mymust recommendation is to protect dies to cut the cost of production ing to local economists. the borders. Do not allow people with and avert a spike in meat prices T he new var iant is a threat, a history of travel to countries with locally. e s p e c i a l l y w it h t he hol id ay s positive cases to enter,” Oplas said. FedPresidents of the National coming up and more foreigners “We should be more restrictive. eration of Hog Farmers Inc.[We (NFHFI) being a llowed to travel to the have toand be] more protective Federation in terms of Pork Producers Philippines, De La Sa lle Univerof our measures.” the Philippines Inc. (ProPork) said thesaid DA that should provide sit y economist Mar ia Ella Oplas Oplas while this subsidies will be to corntofarmers boost the country’s told BusinessMirror. a setback some to industries, this animal feed considering material supply. The holidays usually bring in is a fair measure that A UKRAINIAN national shows placards denouncing the ongoing war between Russia and Ukraine, as she joins people from other nationalities in a brief Presidentplacing Chesterthe Warren Overseas Filipino Workers (OFWs) this couldNFHFI help prevent Tan said prices meat products rally in Makati City. Stories on the Russian-Ukraine war in World pages, A8-A9. NONIE REYES who are eager to spend Christmas countryY.in another strictoflockdown,

will increase due to higher feed costs in anticipation of tighter supply of feed wheat in the global market due to the Ukraine-Russia war. Ukraine is one thethe Philippines’s keyno supwhich, she of said, economy can pliers of feed wheat, an animal feed longer afford. ingredient that is often substituted “It is better that we do protective for corn. preventive measures thaninget ex“With corn shortage our counposed again. We have a lot to lose,” try and soon, feed wheat shortage, Oplas said. “Wewill should now soso feed costs againdogoit up and that will we can open justcosts before production of Christlivestock Tan toldwe thecan Businessmas.and If itpoultry,” gets contained, open Mirror. it again.” “DACenter must therefore focus onRelocal Ateneo for Economic corn production and other products search and Development (ACERD) to ensure enough feed supply to our Associate Director Ser Percival livestock and poultry to ensure our K. Peña-Reyes said food security as well.closing We havethe to act country’s borders would beadded. effecas soon as possible,” Tan tive butProPork shouldPresident still adhere to the Nonon Tamstandards set byonthe Health to bago called theWorld government provide an(WHO). “immediate” subsidy Organization on fertilizer and other inputs What is needed, Peña-Reyes told to “legitimate” local corn farmers, this newspaper, is for travel restric-so they can cheaper feed tionsthat to be put inproduce place swiftly and

materials for the livestock industry. Tambago emphasized that the increase in feed materials will “further aggravate” the challenges hounding local hog industry, which has forthe government to be proactive in been reeling from the impacts of imposing them. the Covid-19 pandemic and African Previous instances when the swine fever devastation. country hadthis thetime opportunity to im“I hope the government pose travel restrictions did not pre[would] really realize the imporvent theof spread Covid-19. That and was tance localof food production makebecause serious and tangible was actions mainly the decision not to support local agriculture made immediately, he said. rather than relying on imports,” told “Kung papatay patay [Ifhewe’re the BusinessMirror. slow] and we get caught flat-foot-

ed, [that’s risky] We were too rePrioritize corn active instead of production proactive before. UNITED Broiler Raisers Association We(Ubra) should learn from that,” Peñapresident Elias Jose Inciong Reyes said. “It’s a delicate concurred with Tambagobalancing and Tan act. We to push testing and that theneed government must prioritize tracing properly helpingtothebecorn farmersinformed since it is production that the Philippines ofaour decisions. Blanket/shotgun can control,could unlikehave imported approaches dire wheatt consewhich is traded. quences on the economy.” See “Farm sector,” A2 See “Omicron,” A2

EXPERTS SEE PHL TRADE NATL GOVT BORROWINGS GAP10 WIDENING FURTHER FOR MOS DIP TO P2.75T w w

n Tuesday, March29, 1, 2022 144 Monday, November 2021 Vol. Vol.17 17 No. No.52

Feb inflation likely settled Omicron risk spurs revival at 2.8-3.6%, says BSP chief

By Bernadette D. Nicolas

@BNicolasBM

HE national government’s gross borrowings as of end-October shrank by almost 6 percent year-on-year to P2.75 trillion.

By Bianca Cuaresma @BcuaresmaBM

Latest data from the Bureau of the Treasury showed that the government’s gross borrowings during the 10-month period fell by 5.99 percent from P2.92 trillion a year ago. With only two months left for WITH the theme “Salamat: Pagpupugay sa mga Alamat,” the Philippine Post Office launched the Ten Outstanding Filipinos Commemorative Stamps in a ceremony at the historic Manila Central Post this year, the latest figure is already Office in Liwasang Bonifacio on February 26. The Ten Outstanding Filipinos are: bowler Olivia “Bong” Coo; actress Gloria Romero; basketball player “El Presidente” Ramon Fernandez; “Star for All equivalent to 89.6 percent of its Seasons” actress Vilma Santos; painter Romulo Galicano; actress Susan Roces; scientist Dr. Baldomero Olivera; Filipino scientist and physician Dr. Ernesto O. Domingo; actress and philanthropist Rosa P3.07-trillion borrowing program. Rosal and “Superstar” of Philippine Cinema actress Nora Aunor. PHOTO FROM PHILIPPINE POSTAL CORPORATION Broken down, gross domestic borrowings from January to October By Cai U. Ordinario @caiordinario settled at P2.23 trillion, down by 5.08 percent from P2.35 trillion in 2020. The bulk of the amount was PEOPLE walk past the mural of Gat Andres Bonifacio at Manila City Hall Underpass. sourced from Fixed Rate Treasury The country will celebrate the 158th birth anniversary of Filipino revolutionary Bonds (P1.19 trillion), followed by hero Gat Andres Bonifacio on Tuesday, November 30. ROY DOMINGOBy Tyrone Jasper C. Piad gement of Emerging Infectious short-term borrowings from Bang@Tyronepiad Diseases, which eased restrictions ko Sentral ng Pilipinas or BSP (P540 in Metro Manila and 38 areas to billion), Retail Treasury Bonds/PreITH the transition to Alert Level 1 starting March 1. myo Bonds (P463.3 billion), Retail Alert Level 1, the De“All private offices and workOnshore Dollar Bonds (P80.84 bilpartment of Trade and places, including public and lion). In the same period, there was Industry (DTI) is encouraging private construction sites, may By Jasper Emmanuel Y. Arcalas dating its registry following the them. This allows everyone to see also a net redemption of Treasury further on-site work setup to operate at full 100-percent @jearcalas enactment of the Coconut Farmwho are listed in the registry and if Bills amounting to P43.94 billion. On Bloomberg reported growth for this year,” he also said, fueland consumer spending that can capacity [consistent withthen na-he ers Industry Trust Fund law. farmer doesn’t see his name NetMonday, debt redemption means that the US dollar has appreciated when asked if OFW remittances help propel the economy towards tional issuances on vaccination ORE than 3 million Rosales explained that about shall coordinate with the PCA imthere were more debts repaid comagainst “every peer” due to durthe can help cushion the blow from the recovery. coconut farmers and requirements on-siteatwork]. coconut farmers and 500,000 mediately,” hefor explained a recent pared to the amount borrowed sanctions imposed against Russia. dollar appreciation. Trade Secretary Ramon LoHowever, they may continue to workers are now regisworkers were added to the PCA’s dialogue with coconut farmers. ing the period. These sanctions have caused a surge Should tourism rebound this pez, in a radio interview on Monprovide flexible and alternative tered with the government’s reg2018 list that had about 2.5 million “On the other hand, if people Meanwhile, gross foreign borin demand “world’s reserve year, suchwhich couldserves provide day, stressed, the work deemed istry, as another the basis coconut farmershowever, and farmthat workers. wouldarrangements see names onasthe list and rowings infor thethe same period also currency.” cushion to the economy given the work-from-home arrangement is appropriate based on function or for the number of people to be The PCA’s next step is to conthey think they are not coconut contracted by 9.7 percent to P518.7 Unionbank Chief Economist Rutourism inflows, Asuncion said. He still an option for the companies individual risk,” the guidelines covered by the utilization of the duct an exclusion-inclusion profarmers or their details are incorbillion from last year’s P574.4 billion. benThis Carlowas O. Asuncion said a weaker hoped that tourists would continue and their for Alert 1 read.it to the PCA P75-billion coconut levy fund. cedure by employees. making the updated rect, theyLevel can report raised through global currency means more expensive to visit and spend in the country. The DTI chief said employees Philippine Coconut Authority farmers’ registry public, providfor immediate action,” he added. bonds (P146.17 billion), program imports for the country is more returning to the offices will boost Biz sector hailsofficial move noted that (PCA) Deputy Administrator Roel ing everyone opportunity to The PCA loans (P139.98 billion),buteuro-deThe BPO card lucrative for exporters. Overseas business activities, especially now IN an interview Busi-list M. Rosales said about 3.11 million check the veracity of the list, Rothe completion with of thethe initial nominated bonds (P121.97 billion), Filipino Worker remittances and FORMER Socioeconomic Planning that establishments are allowed nessMirror, Makati Business coconut farmers and farm worksales added. of coconut farmers registry would a project loan (P86.41 billion), and the Business Process Outsourcing Secretary Romulo L. Neri toldwith Busi100-percent operational Club Executive Director ers have been registered the “The list will be postedcapacity. in public be just in time for theFrancisexpected yen-denominated samurai bonds sectors could also be winners. nessMirror that the BPO sector “That is why we are encouragco Alcuaz Jr. agreed on-site government since it started upspaces where people can easily see rollout of coconutthat levy-funded (P24.19 billion). “With these dynamics—espeis a $30 billion worth industry that ing them to return to offices; it work will aid the retail industry, See “Borrowings,” A2 cially as the Philippine economy could help cushion the impact of a is part of reviving the economy. restaurants, transportation and is recovering—we expect a wider weak peso on the economy. More people who are outside can other businesses in recouping 50.4600 n JAPAN n UK 67.2329 n HK 6.4722 n CHINA 7.9013 n revenue SINGAPORE trade deficit and a bias toward big- n USHe also agreed that0.4374 exporters go and make purchases in stores, losses.36.8968 n AUSTRALIA ger import costs,” Asuncion told will also see higher profits. Neri selling fast-moving consumer “The business sector welBusinessMirror on Monday. noted that some economists favor goods and restaurants around comes the continued lowering “OFW remittances flows? Yes! a weaker currency in order to boost the offices,” he explained, partly of Covid-19 restrictions, giving I am also looking at a more robust export revenues. in Filipino. many businesses and workers BPO sector providing jobs and inAsuncion said recent developHis call is in line with the remore flexibility to boost procomes as the economy comes out of ments in Ukraine have certainly cently released amended guidelines ductivity and promote work-life the pandemic. Cost-cutting global caused the demand for the US dolfor Alert Level System by the Interbalance,” he said. Continued on A2 companies due to the geopolitical lar to increase. Agency Task Force for the Manarisks may result in BPO revenues’ See “Experts,” A2

P25.00 P25.00 nationwide nationwide || 22 sections sections 20 20 pages pages ||

S the US dollar continued to appreciate against the peso, local economists warned that the Philippines’s trade deficit could widen further as a stronger greenback leads to more expensive imports.

DTI: MORE ON-SITE WORK WILL BOOST RECOVERY–DTI CHIEF

HE growth of consumer prices likely settled between 2.8 percent and 3.6 percent in February, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Monday. In a message to reporters, Diokno said their 2.8 to 3.6 percent forecast took into consideration local and economic developments that may cause inflationary pressures locally. “The series of oil price hikes along with higher prices of rice and meat are the primary sources of inflationary pressures during the month. These could be offset in part by lower electricity rates in Meralco-serviced areas and the observed decrease in prices of fish and vegetables due to easing supply constraints,” Diokno said. “Lookintg ahead, the BSP will continue to monitor emerging price developments and possible secondround effects to help achieve its primary mandate of price stability that is conducive to balanced and sustainable economic growth of the economy,” he added. Just last week, Diokno said the situation Russia and Ukraine is still programsinas President Duterte very fluid and would warrant further is expected to sign the industry monitoring before theearly extent of its development plan in 2022.

W LISTED FOR P75-B COCO LEVY FUND OVER 3-M FARMERS

PESO EXCHANGE RATES

PESO EXCHANGE RATES n US 51.2910

Rosales said the PCA will not stop updating its list of coconut farmers and enjoined them to register in order to reap the benefits of the decades-long idled coconut levy fund. “We will not stop at 3.1 million. We hope that more individuals will register in our coconut farmers registry,” he said. The updating of the coconut farmers registry is mandated by Republic Act (RA) 11524 or the Coconut Industry Trust Fund Act. See “3-M farmers,” A2

of quarantine rules in PHL By Samuel P. Medenilla @sam_medenilla

NTER NATIONA L concerns over the possible spread of the more infectious Omicron Covid-19 variant prompted the government reimpose mandatory “The series ofto oil price hikes along with facility-based quarantine higher prices of rice and meat are thefor all arriving passengers in the country. primary sources of inflationary pressures Acting Presidential during the month. These could spokesperbe offset in sonbyKarlo B. Nograles part lower electricity rates inannounced Meralcoon Sunday that Inter-Agency serviced areas and the the observed decrease in TaskofForce the Management prices fish andfor vegetables due to easing of Emerging supply constraints.”Infectious Diseases (IATF) suspended the implemen—BSP Gov. Benjamin Diokno tation of its Resolution No. 150effect on the local economy—particuA (s.2021), effectively imposing larly on inflation—is fully stricter protocols for all known. inbound In its last monetary policy meettravelers. ing,Tothe BSPIATF revised its forecast of note, Resolution 150inflation to average 3.7 percent this A had allowed fully vaccinated year, from the 3.4-percent expecnon-visa travelers from Green List tation in their previous monetary areas to enter the country withboard meeting. While higher, it is out the need for facility-based still within the 2 to 4 percent target quarantine as long as they secure range of the government this year. negative Reverse TranscriptionBSP Managing Director Zeno Polymerase Chain Reaction (RTAbenoja said the higher inflation PCR) test within 72 hours prior forecast is due to higher global to their departure. commodity prices, particularly of “Except for countries classified oil products. as ‘Red,’ the testing and quarantine “Inflation,” A2 protocolsSeefor all inbound international travelers in all ports of entry shall comply with the testing and quarantine protocols for ‘Yellow’ list countries,” Nograles said, citing the provision of IATF Resolution No. 151-A. He noted Hong Kong, which has confirmed a case of the Omicron variant, will also fall under the Yellow list countries. The suspension of the rules for “Green List” countries will be in effect from November 28, 2021 to December 15, 2021. Continued on A2

36.2807 n EU 56.5758 n SAUDI ARABIA 13.4531

n JAPAN 0.4454 n UK 68.2940 n HK 6.5689 n CHINA 8.1195 n SINGAPORE 37.7417 n AUSTRALIA 36.7244 n EU 57.0818 n SAUDI ARABIA 13.6718

Source: BSP (November 26, 2021)

Source: BSP (February 28, 2022)

News

BusinessMirror

A2 Tuesday, March 1, 2022

Covid-related claims paid by insurers hit nearly ₧17B

By Bernadette D. Nicolas

@BNicolasBM

EARLY P17 billion in Covid-19 related claims have been paid by the insurance industry, health maintenance organizations (HMOs), and mutual benefit associations (MBAs) since the start of the Covid-19 pandemic until the end of 2021. Of the total P16.71-billion claims paid during the period, P12.82 billion or 77 percent were paid last year while the remaining 23 percent or P3.89 billion were paid in 2020, according to the re-

sults of the survey conducted by the Insurance Commission (IC). Leading the pack with P9.05 billion or 54 percent of the combined Covid-19-related claims payouts from 2020 to 2021 are life insur-

ance companies. Taking the second spot is the HMO industry with P6.45 billion in payments, followed by the MBAs and the non-life insurers with P833 million and P382 million worth of Covidrelated claims paid, respectively. “The results of the latest IC survey reveal the sustained resilience of our regulated entities against the financial impact of the Covid-19 pandemic. The figures also show a sustained commitment by our regulated entities in addressing the pandemic-related needs of the Filipino people,” Insurance Commissioner Dennis B. Funa said in a statement. For 2021 alone, life insurers took the top spot for paying 59 percent of the total claims paid equivalent to P7.59 billion. In terms of kinds of benefits, death benefits cornered more than

half of the total amount of Covid-19 claims paid in 2021 at P6.85 billion. Trailing death benefits are inpatient benefits and out-patient claims comprising P3.37 billion and P1.93 billion, respectively. “These three benefits make up 94.73 percent of the total amount of claims paid,” Funa said. But based on the number of claims paid for 2021, out-patient benefits (e.g., Emergency Care, Financial Assistance benefits, etc.) ranked first, with 413,254 claims out of a total of 555,708. This is followed by Other Benefits (54,060 claims) and In-Patient Benefits (37,883 claims). Of the 149 regulated entities, 130 participated in the survey. Of those who participated, there are 30 life insurers, 49 non-life insurers, 26 licensed MBAs, and 25 licensed HMOs.

DTI: MORE ON-SITE WORK WILL BOOST RECOVERY–DTI CHIEF Continued from A1

“On-site and remote work both have good and less good effects, and people have found new ways of working and living,” Alcuaz added. “Smart companies and bosses will find a way to navigate on-site and remote work, at least for some jobs.” Philippine Chamber of Com-

merce and Industry (PCCI) President George T. Barcelon said he agrees with employees reporting physically, stressing the need to conduct rapid antigen testing for safety purposes. Barcelon, also a chairman at Philippine Exporters Confederation Inc., said that employees need to have “personal responsibility”

as well and have themselves tested if they are manifesting Covid-19 symptoms. While on-site work can help boost the economy, Management Association of the Philippines (MAP) President Alfredo Pascual said it also addresses the mental health of the workers. “Allowing people to return to

their offices and workplaces will benefit more than just the economy. It will also address mental health issues caused by prolonged isolation and a lack of regular faceto-face interactions,” he told the BusinessMirror. Still, the MAP official noted that hybrid work arrangements have proven beneficial for workers in this pandemic, noting that the current guidelines allow the continuation of such practice. “We must recognize the undeniable benefits of a hybrid setup in terms of cost savings, reduced need for home-office travel, and improved quality of life for people such as working mothers. We believe that the hybrid work model is one of the pandemic’s positive lessons,” Pascual said.

‘Just in time’

IN a recent statement, Presidential Adviser for Entrepreneurship Jose Maria A. Concepcion said easing the quarantine measures to Alert Level 1 “came just in time.” “We are just coming out of the worst of the pandemic and straight into rising commodity prices worldwide. To have remained closed would have created a perfect storm for our MSME (micro, small and medium enterprises),” the Go Negosyo founder said. He noted that the current conflict between Ukraine and Russia has been pushing up prices in several products, notably wheat and oil. These price hikes will take a toll on the operations of the MSMEs, he said, stressing that having more restrictions was not an option as it would be an additional burden for them. “With more establishments being allowed to operate at full capacity and now intrazonal and interzonal travel, this will greatly aid mobility. With greater mobility will come more economic activity,”Concepcion said.

Inflation...

Continued from A1

Broken down, Abenoja said monthly inflation should remain within target for the first three months of the year, then will begin to rise above the 2 to 4 percent target in the second quarter of the year, before taming back down in the third and fourth quarter. For next year, inflation is expected to average at 3.3 percent —up from the 3.2 percent forecast earlier. The governor also said the risks to the inflation outlook continue to lean “slightly towards the upside” for 2022 but remain broadly balanced for 2023.

www.businessmirror.com.ph

Farm sector... “The thing to do is to help the corn farmers bring down the prices because it is local. Wheat is traded and that’s not a solution. The real more substantial assistance is helping corn farmers produce in such a way that they can lower their prices,” Inciong told the BusinessMirror. Philippine Maize Federation Inc. president Roger Navarro called on fellow corn farmers to continue planting the commodity despite rising input costs, particularly fertilizer that has breached the P3,000 per bag price. “We encourage our farmers amidst this crisis in Russia...our local corn farmers must plant more corn in their farming areas to guarantee supply for our end users - the livestock, poultry, dairy and industrial corn users,” Navarro told the BusinessMirror. “Let us help in this noble quest to stabilize this imminent grain shortage and partake the benefits and opportunities that go with it,” he added. DA initiatives TO combat the anticipated detrimental impact of these “converging” global factors, Agriculture Secretary William D. Dar said the Department of Agriculture (DA) will “increase” its “efforts” in carrying outthe second part of its flagship Plant Plant Plant program. Dar said the country must beef up its local food production amid

Experts...

Peso was bound to weaken BPI Chief Economist Emilio S. Neri Jr. agreed with Cuevas and said even without the Ukraine crisis, they were already expecting the peso to weaken. This is mainly due to the global economic recovery. Nonetheless, the crisis in Eastern Europe is expected to aggravate the situation and affect not just the country’s trade performance but also the capital flow channel. What could happen as a result of

these developments, Neri said, is for the Bangko Sentral ng Pilipinas to “carry out its long overdue policy rate adjustment” that could stabilize the market. This may be needed as the ill effects of peso depreciation could outweigh the benefits. “Remittances are expected to grow along with tourism receipts, exports. However, because of our large external debt service outflows combined with imports will be so huge that all the inflows are likely to be outweighed,” Neri told this newspaper.

2021 trade gap

IN 2021, the Philippine Statistics Authority (PSA) reported that the country’s trade deficit widened to $43.13 billion, the highest figure since 2019. The growth of the trade deficit was at 75.4 percent last year. PSA data also showed that in December 2021, the country’s trade deficit grew 112.8 percent to $5.21 billion. In December 2020, the deficit was only at $2.4 billion. Last week, BusinessMirror reported that several local banking economists see the escalating tensions between Russia and Ukraine as putting pressure on the local economy, particularly through rising inflation and weakening of the currency in the near-term. They said oil prices will start to escalate, which, in turn, could affect the peso’s value against the dollar. (See story here: https://businessmirror.com.ph/2022/02/23/ ukraine-conflict-may-impact-phlpeso-prices/).

Continued from A12

“Debates/fora with candidates are important to allow the electorate to understand candidates more & assess their fitness for the position they’re running for,” said Fontanos, executive director of Gender and Development Advocates Filipinas. “[My favorite moment was] when the hosts asked the virtual audience to raise their hands regarding whether or not a candidate sufficiently answered the question,” Fontanos, who was in the virtual audience for both the presidential and VP debates, added.

Paksiw, dimsum

threats faced by the global food system. “This program is for all agricultural commodity industries, which include urban and periurban agriculture,” he told the BusinessMirror. “We really need to boost productivity leading to a higher level of local food production,” he added. Dar added that the DA will continue “to mobilize” food products from provinces with surplus supply to “big” metro areas through a “fortified” Kadiwa ni Ani at Kita program. Agriculture Undersecretar y for Policy and Planning Fermin Adriano told the BusinessMirror the DA has lined up measures to help Filipino farmers cope with the expected impact of the Eastern Europe conflict. Adriano said some of the measures the DA will undertake include distribution of free chicken and ducks to poor rural residents, which will “partly address the widespread protein deficiency among Filipino kids.” The DA will also extend fuel discount subsidies to municipal fishermen and operators of vehicles transporting agricultural products and ensure the smooth implementation of the rice competitiveness enhancement fund, Adriano said. Adriano said the DA will also continue its P5,000 cash assistance to rice farmers owning lands 2 hectares and below.

Continued from A1

This is an “obvious” preference since the US dollar is a “safe haven currency,” causing it to strengthen compared to other currencies such as the Philippine peso. However, University of the Philippines Los Baños College of Economics and Management Dean Agham C. Cuevas said the Philippine peso has been depreciating against the greenback even before the Ukraine crisis. Cuevas said the high demand for the dollar due to the global recovery has caused it to appreciate against other currencies, including the Philippine peso. Nonetheless, the latest developments in Eastern Europe may cause the peso to further depreciate. “We can expect the local currency to depreciate but more because of increased demand for the dollar due to increased demand for imports as the economy improves and opens up completely,” Cuevas said. “(The Ukraine crisis) may still be a factor but it depends on how significant the movement of the dollar would be as a result of the crisis,” he added.

Bets...

Continued from A1

AFTER the VP debate, Rianna Pariña chowed rice and paksiw na salmon cooked by her mom. The fol-

lowing night, after participating as a virtual audience again that time for the presidential debate, she had some dimsum. “I did not bring any snacks or water! So I really stayed hungry until the debate ended,” Pariña, a 19-year-old freshman at Trinity University of Asia, shared. “Perhaps I just wanted to feel the whole experience. But after the debates, I really had heavy meals,” she quipped. A first-time voter, Pariña said the experience helped her understand the platforms of every candidate. “I don’t have a favorite part as I loved the whole experience of being just present and a witness to the event. And at the very least, I felt enough satisfaction to say that I have been a part of the debates,” she added.

The Nation BusinessMirror

www.businessmirror.com.ph

New DENR chief Sampulna to poll bets: Spare the trees By Jonathan L. Mayuga @jonlmayuga

HE country’s new chief steward of the environment and natural resources is urging Filipino voters not to support candidates who may harbor tendencies ruin the environment. At an online news briefing held Monday, Department of Environment and Natural Resources (DENR) OIC Secretary Jim Sampulna said voters should pick candidates who “love” the environment. “I would prefer the voters to choose candidates who love the environment,” he said. Earlier, the new DENR chief asked candidates for the May 2022 elections to refrain from nailing campaign materials on any living trees. “I wish upon all our Filipino brothers and sisters who are vying for elective positions for 2022 to avoid nailing your campaign materials in any living tree,” Sampulna said. “So, I am asking, especially to our voters, do not vote for all candidates who are destroying our environment. They should be environment-friendly,” he added. Sampulna said in the provinces, politicians nail their tarpaulins and other campaign materials on the trees. “They are living beings. Like people. If you hurt the tree, they might die,” he said. DENR Undersecretary for Policy, Planning and Environment Affairs Jonas R. Leones reminded candidates that hurting trees is against the law, urging the candidates to refrain from the practice. He also urged candidates to properly dispose of their campaign paraphernalia, including tarpaulins, through recycling. “We can reuse and recycle tarpaulins. Cement factories are using these tarpaulins as fuels now,” he said.

Sustaining the gains under Cimatu

IN a separate news statement, Sampulna, who took over the post of DENR Secretary after former Sec-

retary Roy A. Cimatu’s resignation due to health reasons, vowed to continue his predecessor’s 10 priority programs until the end of President Duterte’s term. Sampulna committed to building on the gains of the agency under Cimatu in the remaining months of the Duterte administration. “The initiatives of our good Secretary, Secretary Cimatu, has made a huge impact on the Filipino people and I intend to continue what he has started,” Sampulna said. “What I can commit is, our initiatives in the next four months, we will do these for the benefit of the Filipino people,” he added.

Manila Bay, Boracay

AMONG the new DENR chief’s priorities are the rehabilitation of Manila Bay and the world-renowned Boracay in Malay, Aklan. This as Sampulna underscored the progress in the ongoing restoration of Manila Bay and the success of the Boracay Island rehabilitation. “We can now see the beauty of Manila Bay. Maybe only around 500 to 600 meters of the Manila Bay is yet to be laid down with dolomite sand. I intend to continue that project because that is our commitment to our dear President,” Sampulna pointed out. In Boracay, since it is also the commitment of the DENR to President Duterte, he said he intends to continue and complete what his predecessor has started.

Single-use plastic ban

SAMPULNA, meanwhile, vowed to work on a policy that will effectively ban single-use plastic. He pointed out that the DENR has already been advocating for this and he supports the ban despite the absence of a law. “We need some legislation for that [ban on single-use plastic]. Although there is no legislation on that yet, we are already advocating for it,” Sampulna said. “I am pushing to ban single-use plastic because it is harmful to the environment,” he said.

1st Swissotel opening in the PHL bodes well for tourism investments continued from a12 ‘World-class work force’

FOR her part, Tourism Secretary Bernadette Romulo Puyat welcomed the opening of the first Swissôtel in the country. “This heralds the continuing belief by international hospitality groups that the Philippines is a viable site for tourism investments,” she told the BusinessMirror. Data from the Bangko Sentral ng Pilipinas indicated that, despite the pandemic, net foreign direct investments in accommodation and food services surged by some 38 percent to $9.9 million (P505 million) from January to November 2021 versus $7.8 million (P398 million) in the same period in 2020. She added, “Our country has a world-c lass work force that is well-regarded and always in demand in many international destinations and hotels abroad. I wish Swissôtel good fortune as they help the Philippines and its tourism workers rebuild and recover in the new normal.” In the first half of 2021, Pampanga attracted 2.25 million tourists compared to 622,705 in the same period in 2020, according to data from the Department of Tourism (DOT). Tourist receipts similarly increased to P11.27 billion in the first six months of 2021 from just P3.11 billion in the same period in 2020.

Tallest in Central Luzon

AS Covid-19 took hold of the globe in 2020, Accor said it was still on track to expand its portfolio in the Philippines from eight hotels with 2,363 rooms to 23 hotels with over 6,300 rooms by the year 2025. (See, “Ac-

cor tapping domestic travelers for initial PHL recovery plan,” in the IH, May 4, 2020.) With its 22-story building, Swissôtel Clark is touted as the tallest hotel in Central Luzon. The hotel incorporates a modern take on Swiss design elements and architectural touches, resulting in a space where guests feel at ease while they recharge. A statement wall reflecting the pattern of the Swiss Alps is one of the design highlights in each room. Overlooking the city and its surrounding rolling hills, all rooms feature plenty of natural light, with dramatic sunrise or sunset views. At present, it has four food and beverage outlets operating: Markt, The Atrium Oma’s; and Swiss Tropic. Other facilities include a kid’s pool, the Swiss Executive Lounge and five meeting rooms. By the second quarter of the year, it will open an Ristorante Di Verona, then Pürovel Spa & Sport in the third quarter “We are thrilled to welcome guests to experience Swissôtel Clark, the largest hotel in Northern Metro Manila. As the first Swissôtel property in the Philippines, we are proud to deliver Swiss vitality, complemented with local Filipino hospitality. Perfect for families, leisure and business travellers, our intelligently designed guest rooms, variety of culinary offerings, and exciting facilities make the hotel a destination in and of itself. The hotel will offer a relaxing base for all travelers to explore the very best that Clark has to offer,” said hotel general manager Tarek Auoini.

Editor: Vittorio V. Vitug • Tuesday, March 1, 2022 A3

Police kill three Chinese kidnap suspects in Parañaque shootout; 2 victims rescued By Rene Acosta @reneacostaBM

OLICE anti-kidnapping operatives rescued two Chinese nationals during operations in Parañaque on Sunday wherein the three captors were wounded and later expired at a local hospital. Based on the report of the AntiKidnapping Group (AKG) of the Philippine National Police, the three kidnappers are also Chinese nationals. In his report to Philippine National Police (PNP) chief General Dionardo Carlos, the AKG said its personnel along with members of the Southern Police District, rescued Xiangqin Zhou and Li You-Ci at 41 Vicente Recto Street in BF Homes Parañaque City. The operation also resulted in an armed encounter with three unidentified Chinese nationals. The wounded suspects were brought to the Parañaque Medical Center along Dasa Street, San Antonio in Parañaque City, but were declared dead upon their arrival by the attending physician. Recovered from the crime scene were assorted firearms, assorted ammunitions, military uniforms,

PHOTO COURTESY OF PNP-AKG

assorted fake vehicle plate numbers, assorted fake conduction stickers, one black Toyota Innova motor vehicle and scattered white crystalline substance suspected to be shabu. Prior to the rescue operation, the Las Piñas City Police Station rescued Lin Qingchang, who escaped from

his captors. The follow-up operation led to the arrest of Lorriel Asaytono Lozano, who is the caretaker of the kidnapper’s safe house in Kamagong Road, Pilar Village, Barangay Pilar, Las Piñas City. The first rescue operation led to the joint operation of the AKG, Pa-

IATF okays amended guidelines under AL 1

LL public and private establishments as well as public utility vehicles (PUV) will now be allowed to operate at full capacity in areas under Alert (AL) Level 1. In a news statement issued on Sunday, Acting Presidential Spokesman Karlo B. Nograles disclosed the Inter-Agency Task Force for the Management of Emerging Infectious Disease (IATF) removed the operational restrictions in the said areas. However, he noted workers, who will still be performing on-site duties would still be required to be vaccinated against Covid-19. “They [establishments] may continue to provide flexible and alternative work arrangements as deemed appropriate based on function or individual risk,” Nograles said. The IATF also removed the requirement for the use of health declaration forms and setting up of up isolation facilities within the workplace for establishments in AL 1 areas.

PUV policies

THE concurrent Cabinet Secretary also noted other minimum health standards like wearing of face mask will still be required under AL 1 whether outdoors or in indoor private or public establishments, including in public transportation by land, air or sea, except when eating and drinking, participating in team and individual

sports in venues where ventilation standards can be maintained, and practicing outdoor sports/exercise activities where physical distance can be maintained. In case a PUV will travel between an area with a higher AL classification and an area under AL 1, the passenger capacity shall be that which has the lower passenger capacity rate between the point of origin and point of destination. The use of acrylic and/or plastic dividers will no longer be required for PUVs as well as the Safe, Swift and Smart Passage for all vehicles traveling in AL 1 areas will no longer be mandatory.

Proof of vaccination

DESPITE the easing of restriction in AL 1 areas, individuals 18 years old and above will be required to present proof of full vaccination before participating in in-person religious gatherings; gatherings for necrological services, wakes, inurnment and funerals for those who died of causes other than Covid-19 and for the remains of the Covid-19 deceased. “Proof of full vaccination shall be required before entry in the list of establishments identified under the principles of 3C’s [Confined spaces with poor ventilation; Crowded places with no physical distancing; and Close-contact settings] with face to face interaction, strategy against Covid-19. Children

ages 17 and below shall not be required to present proof of vaccination status,” Nograles said. The requirement will also be imposed for all indoor dine-in services of food preparation establishments such as kiosks, commissaries, restaurants and eateries. For outdoor or al fresco dining and take out channels, no proof of full vaccination is required; all indoor personal care establishments such as barbershops, hair spas, hair salons, and nail spas, and those offering aesthetic/cosmetic services or procedures, make-up services, salons, spas, reflexology and other similar procedures including home service options; and fitness studios, gyms and venues for exercise and sports. A similar policy will be imposed for those who will go in indoor cinemas or movie houses operating at full capacity; meetings, incentives, conferences, exhibition events and permitted venues for social events such as parties, wedding receptions, engagement parties, wedding anniversaries, debut and birthday parties, family reunions, and bridal or baby showers; venues with live voice or wind-instrument performers and audiences such as in karaoke bars, clubs, concert halls and theaters; Indoor ancillary establishments in hotels and other accommodation establishments; and Venues for election-related events. Samuel P. Medenilla

say City Police Station, Parañaque City Police Station and military personnel. AKG Director Brig. Gen. Rudolph Dimas reported that the rescued victims were brought to the AKG headquarters at Camp Crame. The AKG is continuing to investigate the cases.

Duterte Okays suspension of e-sabong license –Sotto

RESIDENT Duterte has heeded the call of senators for Malacanangtosuspendtheoperations of electronic cockfight gambling, or “e-sabong,” the Senate leadership was informed by the head of the Public Order and Dangerous Drugs committee. Fielding questions in a townhall event in Quezon province, Senate President Vicente Sotto III said that administration Sen. Ronald “Bato” dela Rosa informed him that Duterte agreed to temporarily suspend the license of e-sabong operators. Sotto was in Quezon barnstorming with Partido Reporma standard bearer Panfilo Lacson. According to Sotto, de La Rosa, who chairs the investigating panel, told him that Duterte himself conveyed by phone on Sunday his decision to suspend the license of e-sabong operators. Dela Rosa had earlier declined to reply when asked for confirmation last weekend, as the Committee on Public Order and Dangerous Drugs was circulating the Resolution for senators’ signature, endorsing the call to suspend the operation of esabong until—in the words of Sotto who introduced the motion at Thursday’s hearing—a “satisfactory” resolution is seen to the apparent abductions of 31 individuals.

WFH engagement in judiciary slackens under new alert level By Joel R. San Juan @jrsanjuan1573

ORK from home (WFH) arrangements for officials and employees of the Supreme Court (SC), Court of Tax Appeals (CTA), Sandiganbayan and the Court of Appeals (CA) have been ordered to be discontinued after the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) has decided to place the National Capital Region (NCR) from March 1 to 15 under Alert Level (AL) 1 due to the decline in Covid-19 cases. In his Memorandum Order No. 20-2022, Chief Justice Alexander Gesmundo said the on-site working capacity in the SC will be 100 percent of the entire work force of all offices except those with limited office spaces which will be 80 percent

of the entire work force. These include the Office of the Clerk of Court En Banc, the Office of the Division Clerk of Court First, Second and Third, Judicial Records Office, Fiscal Management and Budget Office, Philippine Judicial Academy, and the Legal-Office of the Court Administrator that would continue to operate under an 80 percent workforce arrangement. Employees who are not scheduled to workonsite,wouldcontinuetoperform duties under a WFH arrangement. The office hours at the SC would be from 8 a.m. to 4:30 p.m., Monday to Friday. On the other hand, the justices are allowed to determine the number and schedule of their staff that will be required to work on-site in their respective chambers. It reminded those reporting for work that their health condition will

be thoroughly checked upon entering the SC premises. “They must not haveeventheslightestsymptoms.They shall be monitored from time to time to ensure that they strictly observe all health and safety protocols, and that they remain to have no symptoms of Covid-19infection,”CJGesmundosaid. CJ Gesmundo also instructed chiefs of officers and services with personnel under WFH arrangement to continue to submit monthly accomplishments reports of such within the first five days of the following months to the Chief of the Office of Administrative Services of the SC. Meanwhile, all hearings in the Sandiganbayan will be fully conducted in court but only parties, their counsels, witnesses and other persons authorized by the court will be allowed entry to the courtroom provided that they are able to show

proof of vaccinations. For lawyers, parties, witnesses and court users who are not fully vaccinated or are not able to present proof of vaccination they will be required to present negative Antigen or RT-PCR test result taken within a maximum of 48 hours from entry into the Sandiganbayan. All officials and employees of the CTA are also required to report five times a week as WFH arrangements have been discontinued. “Officials and employees of the CTA who are experiencing flu-like symptoms shall immediately inform the Medical Division and their immediate supervisors, and shall be subjected to antigen testing before proceeding to their respective work stations, in accordance with existing policies and protocols of the CTA on the matter,” CTA Presiding Justice Roman del Rosario said.

Economy BusinessMirror

A4 Tuesday, March 1, 2022 • Editor: Vittorio V. Vitug

www.businessmirror.com.ph

DTI sees PHL-Korea free trade pact signing ‘soon’ By Tyrone Jasper C. Piad @TyronePiad

HILE there have been delays, Trade Secretary Ramon Lopez said the signing of the country’s free trade agreement (FTA) with South Korea

will be done “soon.” The Department of Trade and Industry (DTI) chief told the BusinessMirror on Monday that the Philippines-South Korea trade pact will be signed in March. The FTA was originally expected to be inked before February this year

but Lopez said there were still some “legal scrubbing” to do, pushing back the deadline. Manila and Seoul concluded their FTA talks in October 2021 after over two years of negotiations. Their FTA talks covered Trade in Goods, Trade Remedies, Rules of Origin, Customs Procedures and Trade Facilitation, Economic and Technical Cooperation, Competition, and Legal and Institutional Issues. Prior to this, the Philippines and Korea inked in November 2019 an Early Achievement Package, which cited the progress of the trade negotiations. This included priority prod-

ucts such as bananas, garments, and auto parts for the Philippines; and pharmaceuticals, petrochemicals, and auto parts for South Korea. Lopez earlier said that Philippine bananas, under the FTA, will start enjoying zero tariffs when entering Korea in five years, while canned pineapples will see zero duty in seven years. “The final negotiations focused on market access for Philippine banana exports and for Korean automotive units and parts. The Philippines was also able to secure tariff elimination for bananas, which was previously excluded under the

Asean-Korea FTA,” DTI said in a previous statement. The trade department said that bananas are of “particular interest” to the country given that they are currently slapped with a 30-percent tariff upon entering South Korea, which puts the Philippines at a disadvantage to other countries that enjoy zero duties. Following the signing of the FTA, both parties intend to tackle next the “Chapters on Trade in Services and Investment no later than one year after entry into force of the KoreaPhilippines Free Trade Agreement.” Lopez previously said that the

economic pact “will stimulate trade and hopefully allow for more investments from Korea providing avenues for Korean companies and industries to diversify and expand their economic interests in other Asean countries, which is in line with the promotion of Korea’s New Southern Policy.” According to the Philippine Statistics Authority, the Philippine exports to Korea declined by 9.9 percent to $2.57 billion last year from $2.85 billion in 2020. Imports from Korea, meanwhile, surged by 35.5 percent to $9.35 billion in 2021 from $6.9 billion year-on-year.

Solon promotes PIDS study cites benefits of women-led MSMEs in cross-border trade, e-commerce participation hand-woven cloth from the Tausugs of Sulu By Cai U. Ordinario @caiordinario

By Jovee Marie N. Dela Cruz @joveemarie

O help uplift the economy of the Tausugs, a woman lawmaker has announced that locally-produced clothes, especially those made of Sulu’s woven cloth—the pis syabit—will be launched in New York City and in other fashion capitals of the world. Kusug Tausug Rep. Shernee Tan-Tambut, in a news statement, said she met with internationally known Filipino designer Ann F. Ong to come up with plans to promote Sulu province’s pis syabit and Tausug culture along with other Philippine designs being promoted by Ong. Inspecting the pis syabit samples, TanTambut said Ong and her son designer and digital marketing expert John Ong agreed the Sulu cloth has much potential, especially in the international market, including New York City. The pis syabit is a one-of-a-kind piece of cloth exclusively woven in Sulu. It is made of cotton and/or silk, sometimes with metallic gold threads incorporated in the weave. It used to be worn by Tausug men during very special occasions as a headdress or a décor hung on one’s shoulder to indicate their high social status. In modern times, the pis syabit has been used as the main material or accent for clothes and are also used to make fashion accessories. Being woven by Muslims, it only has geometrical patterns because Islam forbids reproducing the likeness of living things, whether human, flora or fauna. Tan-Tambut, who is currently chairperson of the House of Representatives’ Special Committee for Globalization/ WTO, said they would also start a “buy local products” campaign to help small and medium enterprises on their feet amid the pandemic. Noting the proliferation of cheap but low-quality imported clothes in the market, Tan-Tambut said she wants to start by encouraging Filipinos to patronize locallyproduced clothes and help small retailer stores as well as our local designers recover from their losses due to the pandemic. “It [promoting local products] boosts our economy because the money paid for the clothes go to the local designers and their helpers, the local dressmakers and the retailers. That is true for Philippine-made RTW [ready to wear] as well as for exclusively-designed clothes,” she said. “We also have very good designers; they are starting to get noticed by the world, so for those who go for designer clothes, why not be the proud owner of an exquisite Filipino design? Three, and this is specific for the pis syabit, every piece is an original art work, so anyone who has a pis syabit adorning his/her clothes is assured of ownership of an original piece of art that evokes the history and artistry of the Tausugs. And most importantly, for every pis syabit bought, one family in Sulu is one step closer to getting out of poverty,” she added. The lawmaker said she would continue promoting pis syabit and Sulu culture as she wants every Filipino to understand the Tausug way of life by being familiar with Sulu’s beautiful and unique culture. “Popular acceptance of the cloth is also an effective means of uplifting the economy of the Tausugs,” she said.

OMEN-LED micro, small, and medium enterprises (MSMEs) could benefit greatly from cross-border trade and e-commerce participation, according to a Policy Note published by the Philippine Institute for Development Studies (PIDS). In the Policy Note titled “Empowering women-led MSMEs to engage in cross-border e-commerce trade through RCEP [Regional Comprehensive Economic Partnership],” researchers led by Jean Clarisse T. Carlos, a project evaluation officer at the Philippine APEC Study Center Network, said the government must take steps to ensure women are able to benefit from these. The authors said there is a need to disaggregate data on women-led MSMEs or WoMSMEs as well as strengthen government programs to promote e-commerce adoption and greater participation in regional trade such as through RCEP.

“The implications for trade policy with specific regard to women and e-commerce are important given the growing share of female entrepreneurs in the MSME sector in the Philippines and the crucial role they play in the Philippines’ efforts to recover from the crisis through the RCEP,” the authors said. The researchers’ specific recommendations included the need to generate gender-specific data on the cross-border e-commerce participation of Philippine MSMEs, which could be crucial in targeting support. Disaggregated data could help identify specific challenges and barriers to e-commerce adoption as well as policy interventions that could be done by the government. The authors also said there is a need to conduct a nationwide survey of WoMSMEs and their e-commerce adoption and likelihood of participating in e-commerce and crossborder trade through RCEP. These data would also help the government raise the level of awareness of WoMSMEs on RCEP and other

ways to tap the regional market or participate in cross-border trade. “This may be addressed through the inclusion of targeted information drives, awareness-raising activities, and capacity-building programs for WoMSMEs in the implementation of development blueprints or strategies, RCEP, as well as other future free trade agreements,” the authors said. Based on the data, the authors said 43.62 percent of WoMSMEs established their businesses at the height of the Covid-19 pandemic in 2020. Some 30.86 percent of women also put up businesses in the second pandemic year, 2021. The pandemic was also the most cited reason for adopting e-commerce followed by higher profit, ease in communication, growing popularity of e-commerce platforms, and wider customer reach. E-commerce adoption has also enhanced WoMSMEs performance through increased business/product popularity; higher profits; and easier communication with clients.

The grave situation in Ukraine also shows the abuse of the financial system

By Henry J. Schumacher

WAS a small kid at the end of World War II. It wasn’t until I was older that I realized that curling up into a ball under a piece of wood would not have saved any of us from the tools of warfare. This memory is echoed in my brain now that Russia has invaded Ukraine. We all have various views of the conflict where tweets, livestreams, and TikToks tell the stories of air strikes, soldiers, families, and international politics. We thought we were dealing with a “chess player,” not a war criminal. We believed he was playing by the rules and not betting his own. We figured he just wanted respect, not submission. We hoped that the dirty business of secret service obstruction was only his past and now we know: It should also be his future. Lots of misconceptions about Vladimir Putin, the man who brought the bomb alarm over Kiev and Chernobyl, and the horror of the coldest of all Cold Wars like a gang leader about the shocked world. The Russian President may feel like Lenin.

He’s nothing more than a militiaman with a penchant for paranoia. The truly dramatic is the end of the “détente,” the détente between states, the “peace dividend.” The morality of disarmament is fading away, like belief in globalization before it. You pull the curtain aside and see land grabbing, new mercantilism and violence. The asymmetry in the Ukraine war is that some have guns and others just words. US President Joe Biden spoke of “strong” sanctions, four major Russian banks will be cut off from the US financial system, exports to the evil empire will be restricted and other individuals from Putin’s environment will be excluded. Warmonger Putin must become a “pariah on the world stage.” The EU also passed similar sanctions—in the financial sector, in transport and in visa policy. The shares of Putin’s state-owned companies are no longer traded in the EU, and there are no longer any spare parts from Europe for Russian aircraft. In a move that temporarily sunk stocks, spiked oil prices and dismayed the world, Russia launched an attack on Ukraine before dawn on Thursday. What is happening in Ukraine may seem far away for us, but make no mistake, Russia’s actions have global implications, including for the Philippines. Russian President Vladimir Putin says his aim is to “demilitarise and denazify Ukraine,” a cryptic remark that has sent chills down many spines, including mine. Recent investigations have also made it clear that kleptocrats have taken advantage of lax regulations and opaqueness in the financial system to lay the groundwork for the

conflict we’re seeing today. They use banks not only to launder money and their reputation, but also to build power. Leading democracies let them get away with it. For instance, the 2020 FinCEN Files investigation revealed several Russian oligarchs—including those with close ties to Putin—involved in suspicious activities and with unchecked access to the international financial system. Just take businessmen Arkady and Boris Rotenberg, known childhood friends of Putin, as an example. After Russias annexation of Crimea in 2014, the Russian state commissioned Rotenberg’s company to construct a bridge from mainland Russia to Crimea. Despite being placed under sanctions, kleptocrats continue to easily move funds, buy assets and invest in crucial sectors of the economy across the globe. Anonymous companies and a criminal services industry offer bank accounts, luxury mansions and goods and even citizenship in exchange for fatty investments. We express our solidarity with the people of Ukraine and with Russian citizens risking their lives to speak out against war. We call on leading economies to address the corruption exacerbating this conflict and stop the flows of money funding corrupt Russian officials and their attacks on the people of Ukraine. The grave situation in Ukraine clearly shows that the abuse of the financial system—along with the complicity of financial institutions like banks—leads to deadly consequences for people around the world, and it must end now. Feedback is welcome; contact me at hjschumacher59@gmail.com

News BusinessMirror

www.businessmirror.com.ph

Tuesday, March 1, 2022 A5

Pinoys trapped in Ukraine crisis told: Take the train By Malou Talosig-Bartolome @maloutalosig

ILIPINOS who were trapped in Ukraine and wanted to flee the war are advised to take the train instead as the Philippine Embassy is experiencing logistical constraints in the midst of the war zone. Philippine Ambassador to Ukraine Leah Basinang-Ruiz said the only safe means of transport available that they have monitored so far is the train. “Talaga pong mahirap na, wala na po kaming makuhang bus [na marerentahan at magdadala sa mga OFWs] from Kyiv to Lviv. Most of the time mga tao nasa bunker na. Pero patuloy pa rin kaming nakikipag-coordinate kung paano makakalikas ang ibang mga kababayan natin sa Kyiv at isa sa nakikita naming possibility—which is also being taken by the Ukrainians themselves—is the train from Kyiv to Lviv,” Basinang-Ruiz said. Meanwhile, another batch comprising of six Filipinos were evacuated from Ukraine, according to the DFA. In a televised interview last Monday, DFA Undersecretary Sarah Lou Y. Arriola said they received reports that the concerned Filipinos have

arrived in Moldova. “The group includes a medical student, two Pilipinas married to Ukrainians, and another one, who is accompanied by a baby. The rest work from international organizations,” Arriola said. The assisted Filipinos were provided cash aid, psychosocial counseling, food and care packages. Lviv is a city near the border of Poland and Ukraine, located 550 kilometer away from Kyiv. During peacetime, travel to Kyiv to Lviv would take about six to seven hours by train. It took 20 hours for the group of first evacuees of 39 Filipino workers to travel by land from Kyiv to Lviv last Saturday due to the mass exodus of Ukranians and other nationalities out of Kyiv. There are 181 Filipinos who registered for evacuation since a few weeks ago when The Philippine Embassy in Warsaw monitored of an impending hostilities between Russia and Ukraine. However, only 37 have exited Ukraine since last week. The first batch of evacuees is the group of six who flew by plane from Ukraine to Turkey and then to the Philippines,

and the second one is the group of 13 who joined the Embassy-facilitated repatriation to Poland by land, while 18 others went to three other neighboring countries on their own transport vehicles—four to Romania, eight to Hungary, and six to Moldova. Eight Filipino seafarers of MV SBreeze were also stranded in the Port of Chornomorsk in Odessa Oblast southwest of Ukraine, who sought government help to be repatriated and are now on their way to Moldova. Since the February 26 bus evacuation, many Filipinos in Ukraine have started to call, text or email The Philippine Embassy if there will be another batch of repatriation to those who were left behind. A number of these calls concern about their Ukrainian spouses. Ambassador Ruiz assured that Ukrainian spouses of Filipinos and their children are allowed to be included in the DFA repatriation. Ukrainian women spouses of Filipinos normally will be issued visas or travel passes by The Philippine Embassy right away. The problem though is the Ukrainian male spouses of the Filipinas as Ukrainian authorities are blocking their exit at the

border after President Volodymyr Zelenskiy ordered the activation of its conscription program for all ablebodied male age 18 to 65. “Since nagkaroon ng order to prevent Ukrainian males from leaving Ukraine, nagkaroon talaga ng dilemma ang families ng Filipinas [in Ukraine]. Aalis ba sila na di kasama ang husbands nila? Meron talagang families—despite our assurances that we will issue them visa—syempre they have to make very difficult and heart-wrenching decision… Some of them stayed… Others Filipinas naman left their husbands and brought their kids to Lviv,” Ruiz said nduring a Facebook Live hosted by the Department of Foreign Affairs’ Office of the Undersecretary for Migrant Workers Affairs (DFA-OUMWA). A Filipino dropped a message in the FB Page during the live interview, and said he is stranded in Donbas region, where separatists Ukrainians are staying and fighting against the government in Kyiv. Ambasador Basinang-Ruiz advised the OFWs in Donbas to take the train to Lviv, where a consular team of The Philippine Embassy will assist them. With Samuel P. Medenilla

Two mining projects face closure for breach of environmental laws By Jonathan L. Mayuga @jonlmayuga

WO mining projects are facing possible closure orders for violation of environmental and mining laws, an official of the Department of Environment and Natural Resources (DENR) said. While declining to identify the two erring mining companies, DENR Undersecretary for Policy, Planning and International Affairs Jonas R. Leones told reporters during an online news conference on Monday that these mining projects were already recommended for closure or suspension by the late and former DENR Secretary Regina Paz L. Lopez following a mining audit during her short stint as chief steward of the country’s environment

and natural resources in 2017. However, because of their pending appeal in the Office of the President (OP), he said, the two companies are still in operation. “The OP has no restraining order. Although they are allowed to operate, they need to comply with DENR requirements. We will issue a ceaseand-desist order to these companies [if they fail to comply],” Leones said. He explained that of the 26 mining operations that were previously recommended suspended or closed by Lopez, 13 went directly to file an appeal before the OP, while 13 have filed their appeal before the DENR. Of the ones that appealed their case through regular channels in the DENR, 10 were given clearance to continue operation after instituting

PNP maintains health protocols amid easing of pandemic curbs

HE Philippine National Police (PNP) said on Monday that it would continue to enforce health protocols in Metro Manila and other areas under Alert Level (AL) 1. “Even in areas under Alert Level 1, the PNP will continue to ensure observance of minimum public health standards such as physical distancing, use of personal protection and restrictions on crowding in public places,” said PNP Public Information Office (PIO) chief Brig. Gen. Roderick Augustus Balba. Beginning today (Tuesday) until March 15, Metro Manila and 38 other areas of the country will be under AL 1 as ordered by the government. As such, “intra-zonal and interzonal travel shall be allowed without regard to age and comorbidities, while all establishments, persons, or activities are allowed to operate.” Also, work can be undertaken at full on-site or venue capacity provided that it is consistent with minimum public health standards. Balba said that Quarantine Control Points (QCPs) would also be deactivated in Metro Manila and in areas under AL 1 as a result of the “lifting of

restrictions on intra-zonal and interzonal travel.” However, PNP checkpoints that are co-located with the QCPs will remain operational for law enforcement and anti-criminality operations, and implementation of the election gun ban. Balba said that in anticipation of the expected heavy volume of commuters, PNP chief Gen.Dionardo Carlos has ordered the NCR Police Office to closely coordinate with the Metro Manila Development Authority to streamline traffic law enforcement operations. Meanwhile, the PIO chief said checkpoint operations are continuing within the town of Infanta, Quezon and its surrounding areas to possibly apprehend the suspects in the shooting of Infanta re-electionist Mayor Filipina Grace America. America survived the attack on Sunday with a gunshot wound in the arm and is undergoing treatment in a private hospital in Metro Manila. Balba said forensic investigators are now examining pieces of evidence gathered at the crime scene at Rizal corner Zamora Streets in Poblacion 1, Infanta, Quezon. Rene Acosta

corrective measures. The rests, he said, are still in the process of complying with corrective measures as mandated by the DENR through the Mines and Geosciences Bureau (MGB). He explained that the mining companies, upon being slapped with the suspension or closure order by Lopez, were given 6 months to comply and many were able to comply, eventually getting the clearance to continue operation. Newly designated DENR OIC Secretary Jim Sampulna on Monday also clarified the issue on open-pit mining in relation to the lifting of the ban through Executive Order 130 by Duterte. Sampulna is the undersecretary for attached agencies, mining, and

Muslim affairs before taking charge as the OIC of the DENR. “It is in the law that open-pit mining is allowed. However, we have policies and guidelines on conducting openpit mining which should be clear and followed,” Sampulna pointed out. “There are misnomers that if it is open-pit, then it is destructive. But even prior to the start of the project, there is already a plan for rehabilitation where the degree of damage to the environment has already been measured…it will be restored after their operation,” he added. He also noted that constant monitoring of mining operations is being conducted by the national government, neighboring mining communities, and the “very strict” Mining Industry Coordinating Council (MICC).

To work onsite, workers need to be vaxxed, DOLE exec says By Samuel P. Medenilla @sam_medenilla

MPLOYEES will still need to be fully vaccinated in Alert Level (AL) 1 areas to work onsite, according to the Department of Labor and Employment (DOLE). In a virtual briefing on Monday, Labor Assistant Secretary Ma. Teresita S. Cucueco said the Inter-Agency Task Force for the Management of Emerging Infectious Disease (IATF) has yet to come out with a new resolution revoking the said requirement. Under IATF Resolution 148-B, workers are “required” to be fully vaccinated to perform on-site duty. The unvaccinated may also work onsite, but on the condition they undergo testing every two weeks. Cucueco said the government opted to retain the requirement in AL 1 areas to protect the unvaccinated against Covid-19 infection. “We are carefully monitoring the unvaccinated since they could be afflicted with severe or critical [Covid-19 symptoms],” the labor official said. She noted the requirement would

only be scrapped if the government comes out with the necessary issuance for it or if a court issues a prohibition order. DOLE said the requirement is unlikely to inconvenience many people since most workers are already inoculated against Covid-19. As of February 21, 2022, data from the Department of Health (DOH) show the government has already fully vaccinated around 63.19 million. Of which, 2.8 million are health-care workers and 18.9 million are frontline workers from the essential sector, which includes the manufacturing sector. Cucueco noted vaccine hesitancy is now down to 10 percent and for some establishments, particularly in the manufacturing sector, 95 percent of their workers are already fully vaccinated. Last Sunday, the IATF placed Metro Manila and 38 other areas in the country under Alert Level 1 for meeting the criteria it set, which includes 70 percent of their target population and 80 percent of their senior citizens to be already fully vaccinated.

Aglipay-Villar leaves DOJ post to support husband’s Senate bid

USTICE Secretary Menardo Guevarra announced the resignation of Undersecretary Emmeline Aglipay-Villar on Monday to campaign for her husband, former Department of Public Works and Highways (DPWH) Secretary Mark Villar, who is seeking a senatorial seat in the May elections.

Guevarra said Villar’s resignation will take effect on March 21 and Chief State Counsel George Ortha II, who would take on the duties as officer-in-charge undersecretary, would replace her. The DOJ chief said Villar is not on terminal leave and that she would continue to fulfill her duties until her last day in office.

“Emmeline’s passionate advocacy for the protection of women’s and children’s rights found expression in her work as undersecretary in charge of the Inter-Agency Council Against (human) Trafficking. IACAT and the DOJ’s gender and special protections group,” the DOJ secretary noted.

Villar is also in charge of the justice chief ’s legal staff and serves as concurrent spokesperson for the department, replacing then undersecretary Markk Perete. She was a representative of the DIWA Party-list in the House of Representatives, before joining the DOJ in July 2018. Joel R. San Juan

BusinessMirror

Tuesday, March 1, 2022

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

ALL OUT MULTI-MEDIA SOLUTIONS CORP. Unit 2302-a West Tower, Pse Centre, Exchange Road, Ortigas Center, San Antonio, City Of Pasig KIM, MINSEO Marketing Officer 1.

Brief Job Description: Manage the promotion and services of the company offers LEE, HAN SEOK Technical Support Specialist

Brief Job Description: Maintenance and monitoring of computer hardware computer systems and applications

Basic Qualification: Proficient in speaking, reading, and writing Korean and English

DAI, CHAO Chinese Speaking IT Specialist 16.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proficient in speaking, reading and writing Korean and English Salary Range: Php 30,000 - Php 59,999

PENG, LIXIN Customer Service Representative Brief Job Description: Customer Service Representative

17.

18.

Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Provides support from Global team regarding IT related concerns

Basic Qualification: 1-year customer service associate experience, basic to advance MS application skills

Brief Job Description: Resolving all issues coworkers have with their IT systems and software

LIU, MING Chinese Speaking IT Specialist

BOSCH SERVICE SOLUTIONS, INC. 23rd Floor, W Fifth Avenue Building, 32nd Street Corner, 5th Avenue Bonifacio Global City, City Of Taguig TIPBUT, PONGPAN Customer Service Associate

Brief Job Description: Resolving coworkers have with their IT systems and software

HU, XIAOLI Chinese Speaking IT Specialist

BILLION DRAGON OUTSOURCE PHILS., INC. 3/f, Ayala Mall Southpark, Alabang, City Of Muntinlupa Basic Qualification: High School graduate in Chinese, can speak and write fluent Chinese Mandarin, can operate Mandarin characters

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

Brief Job Description: Resolving coworkers have with their IT systems and software

LU, YIQIN Chinese Speaking IT Specialist 19.

Salary Range: Php 90,000 - Php 149,999

Brief Job Description: Resolving all issues coworkers have with their IT systems and software

CHINA COMMUNICATIONS SERVICES PHILIPPINES CORPORATION 21st Floor Menarco Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

10.

11.

12.

13.

14.

CHEN, MIAOQING Chinese Speaking Business Consultant Brief Job Description: Plan, organize and manage business projects for clients

CHEN, MINGTAO Chinese Speaking Business Consultant Brief Job Description: Plan, organize, and manage business projects for clients

GAN, CHENCHEN Chinese Speaking Business Consultant Brief Job Description: Plan, organize, and manage business projects for clients

LI, XU Chinese Speaking Business Consultant Brief Job Description: Plan, organize and manage business projects for clients

LIN, YAOSHEN Chinese Speaking Business Consultant Brief Job Description: Plan, organize, and manage business projects for clients

LIU, YUSHI Chinese Speaking Business Consultant Brief Job Description: Plan, organize and manage business projects for clients

LUO, ZHANZHANG Chinese Speaking Business Consultant Brief Job Description: Plan, organize and manage business projects for clients

WANG, LIQUN Chinese Speaking Business Consultant Brief Job Description: Plan, organize and manage business projects for clients

YE, MAO Chinese Speaking Business Consultant Brief Job Description: Plan, organize and manage business projects for clients

DU, JINJIN Chinese Speaking Cabling Infrastructure Technician Brief Job Description: Installs Cat5e, Cat6, Cat6a, and fiber optic cabling system

Basic Qualification: Fluent in English and Mandarin language with analytical mind and analysis skills

WU, ZHENDONG Chinese Speaking IT Specialist 20.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in English and mandarin language and with analytical mind and analysis skill

YU, YIQING Chinese Speaking IT Specialist 21.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in English and mandarin language and with analytical mind and analysis skill Salary Range: Php 30,000 - Php 59,999

22.

23.

Salary Range: Php 30,000 - Php 59,999 24.

15.

Brief Job Description: Resolving all issues co-workers have with their IT systems and software

Brief Job Description: Act as a communication liaison between low level employees and senior management

CONG, JIAN Mandarin Speaking Project Supervisor 25.

Brief Job Description: Act as a communication liaison between low level employees and senior management

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in English and Mandarin language with analytical mind and analysis skills

DENG, BIN Mandarin Speaking Project Supervisor 26.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in English and Mandarin language with analytical mind and analysis skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate excellent verbal and written communication skills in both Mandarin and English with the experience in designing & installing high-function communication network connections

Basic Qualification: Fluent in mandarin and English, with good communication skills and preferably 2 years of experience as Chinese speaking IT specialist Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Act as a communication liaison between low level employees and senior management

HUANG, ZHIGUANG Mandarin Speaking Project Supervisor 27.

Brief Job Description: Act as communication liaison between low-level employees and senior management

OU, BINGSHENG Mandarin Speaking Project Supervisor 28.

Salary Range: Php 30,000 - Php 59,999

CHEN, ZHIKANG Chinese Speaking IT Specialist

Brief Job Description: Act as communication liaison between low-level employees and senior management

CHEN, SHANCONG Mandarin Speaking Project Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in English and Mandarin language with analytical mind and analysis skills

Brief Job Description: Resolving coworkers have with their IT systems and software

CHANG, YINGFEN Mandarin Speaking Project Supervisor

Basic Qualification: Fluent in English and mandarin language and with analytical mind and analysis skill

Basic Qualification: Fluent in English and Mandarin language with analytical mind and analysis skills

Brief Job Description: Resolving coworkers have with their IT systems and software

ZHANG, ZHONGXUN Chinese Speaking IT Specialist

Basic Qualification: Fluent in English and Mandarin language with analytical mind and analysis skills Salary Range: Php 30,000 - Php 59,999

Brief Job Description: Resolving all issues coworkers have with their IT systems and software

Brief Job Description: Act as a communication liaison between low level employees and senior management

WANG, LEI Mandarin Speaking Project Supervisor 29.

Brief Job Description: Act as a communication liaison between low level employees and senior management

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE Basic Qualification: Fluent in mandarin and English, with good communication skills and preferably 2 years of experience

No.

ZHANG, XING Mandarin Speaking Project Supervisor 30.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin and English, with good communication skills and preferably 2 years of experience as Chinese speaking IT specialist

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin and English, with good communication skills and preferably 2 years of experience as Chinese speaking IT specialist Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin and English, with good communication skills and preferably 2 years of experience as Chinese speaking IT specialist Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin and English, with good communication skills and preferably 2 years of experience

31.

KATHURIA, SHUBHRANSHU Associate 32.

33.

34.

Salary Range: Php 30,000 - Php 59,999

TZAI, CHAI-RONG a.k.a. SHARON TZAI Marketing Sales Manager Brief Job Description: 5-8 years in related work experience in batching plant.

Brief Job Description: Overseeing customer service and various back office functions

NGUYEN THI HAI YEN Mandarin Digital Marketing Officer 35.

Brief Job Description: The mandarin digital marketing officer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals. VY THI HONG THUY Mandarin Finance Supervisor

36.

Brief Job Description: The mandarin finance supervisor will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals. TRAN THI HONG LOAN Mandarin Graphic And Web Developer

37.

Brief Job Description: The mandarin graphic and web developer will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals. TRAN PHUONG LINH Mandarin Human Resources Supervisor

38.

Brief Job Description: The mandarin human resources supervisor will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals. NGUYEN MANH KHOI Mandarin Information System Analyst

39.

Brief Job Description: The mandarin information system analyst will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals. NGUYEN VAN SON Mandarin Information System Analyst

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate outstanding leadership skills, fluent in mandarin and English preferably with 5 years of experience as project supervisor

Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English, preferably with 5 years experience as Project supervisor Salary Range: Php 30,000 - Php 59,999

Basic Qualification: MBA, B. Tech, 6 years of work experience Salary Range: Php 150,000 - Php 499,999

Basic Qualification: Can speak Taiwanese/ Chinese/English fluently. Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Must have proven experience as head of operations, director or similar leadership role, must be familiar with all business functions including HR, finance, supply chain Salary Range: Php 500,000 and above

HECTECHURE CORP. Units A&b 20/f Rufino Pacific Tower, 6784 Ayala Ave. Cor. V.a. Rufino St., San Lorenzo, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English, preferably with 5 years experience as Project supervisor

Brief Job Description: Provide management consultancy services to Creador and its affiliate companies

BHATTACHARYA, PRATIM Head Of Operations

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English, preferably with 5 years’ experience as Project supervisor

Salary Range: Php 30,000 - Php 59,999

HC CONSUMER FINANCE PHILIPPINES, INC. 15th Floor, Ore Central, 9th Ave. Cor 31st. Bonifacio Global City, Fort Bonifacio, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English, preferably with 5 years’ experience as Project supervisor

Basic Qualification: College graduate outstanding leadership skills, fluent in mandarin and English preferably with 5 years of experience as project supervisor

GMC READY MIX CORPORATION Mabato Road, , Ibayo-tipas, City Of Taguig

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate outstanding leadership skills, fluent in mandarin and English preferably with 5 years of experience as project supervisor

Brief Job Description: Act as a communication liaison between low level employees and senior management

QUALIFICATION AND SALARY RANGE

CREADOR ADVISORS PHILIPPINES, INC. 21/f, 8 Rockwell, Hidalgo Drive, Rockwell Center, Poblacion, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin and English, with good communication skills and preferably 2 years of experience

Brief Job Description: Act as communication liaison between low-level employees and senior management

ZHOU, RONGDAN Mandarin Speaking Project Supervisor

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Fluent in mandarin and English, with good communication skills and preferably 2 years of experience

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

40.

Basic Qualification: Proven experience as mandarin digital marketing officer, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as mandarin finance supervisor, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as mandarin graphic and web developer, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as mandarin human resources supervisor, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as mandarin information system analyst, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Proven experience as mandarin information system analyst, excellent communication, interpersonal and presentation skills. Salary Range: Php 30,000 - Php 59,999

I-PLEX MARKETING INC. 24/f Bgc Corporate Center, 30th Street Corner 11th Avenue, Bonifacio Global City, Fort Bonifacio, City Of Taguig Basic Qualification: Proficiency in handling customer questions about services or products / excellent Mandarin communication skills

Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English, preferably with 5 years experience as Project supervisor

41.

Salary Range: Php 30,000 - Php 59,999

INNOCONEXION TECHNOLOGIES OPC 29/f Pacific Star Bldg., Sen. Gil Puyat Cor. Makati Aves., Bel-air, City Of Makati

Basic Qualification: College graduate, outstanding leadership skills, fluent in Mandarin and English, preferably with 5 years experience as Project supervisor Salary Range: Php 30,000 - Php 59,999

ZHANG, YOUSHENG Chinese Speaking Admin Associate Brief Job Description: Prepare and maintain company documents and reports and coordinate for daily administrative reports

GUAN, SHENGHENG Commercial Manager 42.

Brief Job Description: Manage the commercial and sales team while being heavily involved in the motivation, drive and development of new talent within the organization. Oversee the company’s projects and ensure that they are delivered within a timely matter and with a good quality

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: College Degree Salary Range: Php 150,000 - Php 499,999

BusinessMirror

www.businessmirror.com.ph

ESTABLISHMENT / ADDRESS No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ESTABLISHMENT / ADDRESS QUALIFICATION AND SALARY RANGE

No.

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION

ITECHNO SPECIALIST INC. 7/f Aseana I Bldg., Bradco Avenue Aseana Business Park, Tambo, City Of Parañaque DANG VAN THANG IT Support Specialist 43.

Brief Job Description: The IT Support Specialist (ITSS) is an integral member of the company infrastructure, Application Support, and of the IT Division and is responsible for providing quality IT support of enterprise systems throughout the Chinese clientele. NGO THI DAO IT Support Specialist

44.

45.

Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language

46.

Brief Job Description: Responsible for planning, overseeing and leading projects from ideation through to conclusion.

Salary Range: Php 30,000 - Php 59,999

47.

Brief Job Description: Your primary function is to help the company and its Chinese clients to generate more income for the company

48.

Brief Job Description: Attracts potential customers by answering product and service questions; suggesting information about other products and services

58.

59.

Basic Qualification: Must be fluent in chinese language Salary Range: Php 30,000 - Php 59,999

Basic Qualification: Proficient in speaking, reading, and writing in Chinese mandarin, English and their respective native language for the position applied for, Fluent in Chinese Mandarin language is an advantage

Brief Job Description: Integrate data from various back-end services and databases

Basic Qualification: Proficient in speaking, reading and writing Korean and English Salary Range: Php 30,000 - Php 59,999

LARSEN & TOUBRO INFOTECH LIMITED Units 2024 - 2026 & 2027 - 2028, 2030, 20f Zuellig Bldg., Makati Ave. Cor. Paseo De Roxas, Urdaneta, City Of Makati

50.

SATHIYAMOORTHY, KASIVISWANATHAN Consultant Brief Job Description: RPA lead tracking, drive SIP & develop.

Basic Qualification: Bachelor of Engineering (Preferably Information Technology)

51.

Brief Job Description: The Mandarin Marketing Manager will be strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long term goal.

60.

Salary Range: Php 30,000 - Php 59,999

52.

Brief Job Description: delivers daily execution in the collections space with some support for improvements QUINTERO MIRANDA, KAREN JOANA Senior Collector

53.

Brief Job Description: support peers with technical or process related challenges during process execution

Basic Qualification: responsible for the management and collection of outstanding customer accounts

61.

62.

63.

54.

Brief Job Description: Management of the division’s project operations and business activities and supervision of all staff members in the division under the supervision of the general manger

64.

65.

66.

55.

DANIEL ALEXANDER LAOH Technical Advisor In Transfer Pricing Brief Job Description: Handle global and regional documentation projects.

Salary Range: Php 500,000 and above

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents. MO, MANJING Chinese Customer Service Brief Job Description: Customer support and data base services

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills ZENG, XIANGSONG Chinese Customer Service

67.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents. ZHU, JINHUA Chinese Customer Service

68.

69.

70.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents. ANOKI META MULIA Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services KENNY ARVIN Indonesian Customer Service Brief Job Description: Customer Support and Data Base Services CHUI KAH JUN Malaysian Customer Service

71.

Basic Qualification: With at least Bachelor’s Degree in Accountancy/ Economics/Finance/ Similar fields; With TP-Related work experience; Has basic knowledge or background on data science, data analytics, computer science, computer engineering or applied math.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

SHI, JIANCHAO Chinese Customer Service

Salary Range: Php 150,000 - Php 499,999 NAVARRO AMPER & CO. 19/f Six/neo Bldg., 5th Ave. Cor. 26th St., Fort Bonifacio, City Of Taguig

Brief Job Description: Customer support and data base services

MEI, JIE Chinese Customer Service

MITSUI & CO. (ASIA PACIFIC) PTE. LTD. MANILA BRANCH 36/f Gt Tower International, 6813 Ayala Avenue, Bel-air, City Of Makati

NISHIGAKI, YOSHIMICHI Project Manager

CHEN, HONGMING Chinese Customer Service

LIU, TONG Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999

Basic Qualification: strong leadership, high level of abilities in project management, new business development and internal control. abilities to plan the strategy and to execute projects in cooperation with related business partners

Brief Job Description: Handle global and regional documentation projects.

LI, HUAHUA Chinese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: responsible for the management and collection of outstanding customer accounts

SENGUPTA, BANALATA Technical Advisor In Transfer Pricing

JIANG, XIAYU Chinese Customer Service

MAERSK GLOBAL SERVICE CENTRES (PHILIPPINES) LTD. Levels 6-8 North Wing, Estancia Offices, Capitol Commons, Meralco Ave., Oranbo, City Of Pasig PATIÑO CASTRO, JOHN HAYVER Senior Collector

Brief Job Description: Handle global and regional documentation projects.

NEW ORIENTAL CLUB88 CORPORATION 1331 Pearl Plaza Bldg., Quirino Ave., Tambo, City Of Parañaque

LIUGONG MACHINERY ASIA PACIFIC PTE. LTD. PHILIPPINE BRANCH Unit A&b 20/f Rufino Pacific Tower, 6784 Ayala Ave. Cor. V.a Rufino Street, San Lorenzo, City Of Makati TANG, BINBIN Mandarin Marketing Manager

Salary Range: Php 60,000 - Php 89,999

Salary Range: Php 150,000 - Php 499,999

Basic Qualification: Proven experience as Mandarin Marketing Manager; Excellent communication, interpersonal and presentation skills.

Salary Range: Php 60,000 - Php 89,999

KINDOSAR PROCESS SOLUTIONS INC. Unit 5d, Rose Industries Bldg., Pioneer St., Kapitolyo, City Of Pasig

49.

RAVISHANKAR, PALLAVI Technical Advisor In Transfer Pricing

Basic Qualification: Working experience with multinational companies preferably Japanese Auction companies. Excellent English and Japanese communication skills. Salary Range: Php 90,000 - Php 149,999

QUALIFICATION AND SALARY RANGE

No.

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills HION JONG SAM Malaysian Customer Service

72.

73.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents. SIA JIA HAO Malaysian Customer Service Brief Job Description: Customer support and data base services

Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

74.

75.

Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and english) Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in computer applications with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and English)

76.

77.

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communication Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and English) Salary Range: Php 30,000 - Php 59,999

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Customer support and data base services

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

Salary Range: Php 30,000 - Php 59,999

NGUYEN DUY BAO Vietnamese Customer Service 78.

Brief Job Description: Manage incoming calls and inquiries, handling complaints, provide solutions, process customer accounts and file the documents.

Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and English) Salary Range: Php 30,000 - Php 59,999

PKBLUE MARINE PARTS TRADING 24f Unit 24 Lounge Medical Plaza, #25, San Miguel St., San Antonio, City Of Pasig

79.

Basic Qualification: Have enough knowledge in installing ships parts.

JIN, YONGHOON Technical Consultant Brief Job Description: Manage issues of Ship’s parts installed to client’s ship.

Salary Range: Php 30,000 - Php 59,999

RIZAL COMMERCIAL BANKING CORPORATION Rcbc Plaza 6819 Ayala Ave., Cor. Sen Gil J. Puyat Ave., Bel-air, City Of Makati 80.

81.

IIZUKA, DAISUKE Consultant

Basic Qualification: Japanese

Brief Job Description: Consulting for Japanese companies

Salary Range: Php 150,000 - Php 499,999

SUZUKI, RYOSUKE Consultant

Basic Qualification: Japanese

Brief Job Description: Consulting for Japanese companies

Salary Range: Php 150,000 - Php 499,999

SHIMIZU CORPORATION 5/f King’s Court Bldg. 1, 2129 Chino Roces Ave., San Lorenzo, City Of Makati SHINTATSU, KOHEI Assistant Administrative Manager 82.

Brief Job Description: Formulating workplace standards and policies; Negotiate and approve contracts.

Basic Qualification: Ability to create and implement workplace standards & policies; Ability to handle personnel. Salary Range: Php 60,000 - Php 89,999

SYKES ROHQ 10/f Glorietta 1, Bpo Office Tower, Ayala Center, San Lorenzo, City Of Makati Basic Qualification: Bachelor’s degree required. Seven years experience in a Client Services Management role and/or Operations experience required; or any equivalent combination of related training/education and experience required.

WALKER, DUSTIN HAEFNER Director, Area Operations 83.

Brief Job Description: Manage support services including planning, development, implementation and maintenance for the account.

Salary Range: Php 150,000 - Php 499,999 W.E.W RESOURCE MANAGEMENT, INC. 50/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

84.

Basic Qualification: With knowledge in computer application

ZHANG, MENGYAO Mandarin Speaking Customer Service Representative Brief Job Description: Customer support for mandarin speaking client

Salary Range: Php 30,000 - Php 59,999

WANFANG TECHNOLOGY MANAGEMENT, INC. 6-9/f Double Dragon Plaza, Edsa Cor. Macapagal Ave., Barangay 76, Pasay City CHENG, YI-SHAN Chinese Technical Support Representative 85.

Brief Job Description: Provide Daily Support to users of various computer systems including answering questions analyzing problems and quickly forming solutions to return systems to proper operation

Basic Qualification: Proficient in Speaking Reading and writing in English and their respective native language for the solution applied for fluent in Salary Range: Php 30,000 - Php 59,999

WHOLESOME CONSULTING SERVICES CORP. Unit Ug-02, Ug/f Cityland 10 Tower 2, 154 H.v. Dela Costa Cor. Valero Sts., Bel-air, City Of Makati

ZHANG, XIAOQING Mandarin Customer Service Representative 86.

Brief Job Description: Provides customer service support to the organization by obtaining, analyzing and verifying the accuracy of order information in a timely manner.

Basic Qualification: College Graduate. Computer Proficiency. Fluent in Mandarin, Cantonese, and Taiwanese Language. Excellent Interpersonal and communication skills. At least 1 year experience in Customer Service. Salary Range: Php 30,000 - Php 59,999

ZIMI TECH, INC. 29th/f Burgundy Corporate Tower, Sen. Gil Puyat Ave., Pio Del Pilar, City Of Makati

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: Knowledgeable in Computer Applications with Good Oral and Written Communication

Brief Job Description: Knowledgeable in computer application with good oral and written communication skills

LAI, YI-HUNG Taiwanese Customer Service

Salary Range: Php 30,000 - Php 59,999 Basic Qualification: College graduate, preferably 1yr experience in the similar field, speak and write fluently (native language and English)

Basic Qualification: Customer support and data base services

CHENG, CHIH-YANG Taiwanese Customer Service

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

QUALIFICATION AND SALARY RANGE

CHEN, YUNG-LAN Taiwanese Customer Service

Basic Qualification: Customer support and data base services Salary Range: Php 30,000 - Php 59,999

NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION CHEN, YU-FANG Taiwanese Customer Service

Salary Range: Php 500,000 and above

Salary Range: Php 30,000 - Php 59,999

CHO, SUNGHO Data Analyst

Brief Job Description: Handle global and regional documentation projects.

Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language

JIU ZHOU TECHNOLOGIES INTERNATIONAL, INC. U-2801 28/f Pbcom Tower, 6795 Ayala Ave. Cor. V.a. Rufino St., Bel-air, City Of Makati

NGUYEN BA HA Vietnamese Customer Service Representative

57.

MUNDRA, KESHAV Technical Advisor In Transfer Pricing

ESTABLISHMENT / ADDRESS

Salary Range: Php 60,000 - Php 89,999

Basic Qualification: Can speak and read Cantonese, Mandarin and Fukien language

JDB MANAGEMENT AND CONSULTANCY CORP. 107 T & D House, Magallanes St. 069, Barangay 655, Intramuros, City Of Manila LI, HONGDE Strategic And Facilitation Officer

Brief Job Description: Handle global and regional documentation projects.

Salary Range: Php 30,000 - Php 59,999

JBA PHILIPPINES INC. Unit No. C150-c156 Flr. No. G/f Bldg. No. Cluster F, Bluebay Walk Metro Park St., Zone 10 District 1, Barangay 76, Pasay City ITO, KENJI Project Coordinator

56.

GUPTA, AMIT Technical Advisor In Transfer Pricing

Tuesday, March 1, 2022

JOHAN OBI Bahasa Language Customer Service Representative 87.

Brief Job Description: Professionally handle incoming requests from customers and ensure that issues are resolved both promptly and thoroughly

Basic Qualification: Proficient in writing, reading and speaking in both English and Korean/Bahasa/Chinese/ Vietnamese/Malaysian/ Cambodian Salary Range: Php 30,000 - Php 59,999

ZTT PHILIPPINES CORP. 24 Flr. Bgc Corporate Center, 11 Ave. Cor. 30 St., Bonifacio Global City, Fort Bonifacio, City Of Taguig LIU, YACHONG Project Manager 88.

Brief Job Description: Project Manager are Responsible for Planning and Overseing projects to ensure they are completed in a timely fashion and within budget

Basic Qualification: Natural Leadership skills and the ability to work with all teams in the company Salary Range: Php 30,000 - Php 59,999 *Date Generated: Feb 28, 2022

In the ad material of Notice of Filing of Application for Alien Employment Permits published on February 22, 2022, the name of YOGESWARAN VEEREASAMY under HOTEL SPECIALIST (MANILA), INC., should have been read as YOGESWARAN VEERASAMY and not as published. Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE National Capital Region located at DOLE-NCR Building, 967 Maligaya St., Malate Manila, within 30 days after this publication. Please inform DOLE National Capital Region if you have any information on criminal offense committed by the foreign nationals.

Basic Qualification: Knowledgeable in computer application with good oral and written communication skills Salary Range: Php 30,000 - Php 59,999

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

The World BusinessMirror

Tuesday, March 1, 2022

Editor: Angel R. Calso • www.businessmirror.com.ph

Putin orders nuclear forces on high alert, escalating East-West tensions O

Oil jumps 7% as more sanctions on Russia spur energy crisis fears

By Yuras Karmanau, Jim Heintz, Vladimir Isachenkov & Dasha Litvinova

The Associated Press

YIV, Ukraine—President Vladimir Putin dramatically escalated East-West tensions by ordering Russian nuclear forces put on high alert Sunday, while Ukraine’s embattled leader agreed to talks with Moscow as Putin’s troops and tanks drove deeper into the country, closing in around the capital.

Citing “aggressive statements” by Nato and tough financial sanctions, Putin issued a directive to increase the readiness of Russia’s nuclear weapons, raising fears that the invasion of Ukraine could lead to nuclear war, whether by design or mistake. The Russian leader is “potentially putting in play forces that, if there’s a miscalculation, could make things much, much more dangerous,” said a senior US defense official, speaking on condition of anonymity to discuss rapidly unfolding military operations. Putin’s directive came as Russian forces encountered strong resistance from Ukraine defenders. Despite Russian advances across the country, US officials say they believe the invasion has been more difficult, and slower, than the Kremlin envisioned, though that could change as Moscow adapts. Amid the mounting tensions, Western nations said they would tighten sanctions and buy and deliver weapons for Ukraine, including Stinger missiles for shooting down helicopters and other aircraft. Ukrainian President Volodymyr Zelenskyy’s office, meanwhile, announced plans for a meeting with a Russian delegation at an unspecified location on the Belarusian border. It wasn’t immediately clear when the meeting would take place, or what the Kremlin was ultimately seek ing, either in those potential talks on the border or, more broadly, from its war in Ukraine. Western officials believe Putin wants to overthrow Ukraine’s government and replace it with a regime of his own, reviving Moscow’s Cold War-era influence. The fast-moving developments came as scattered fighting was reported in Kyiv. Battles also broke out in Ukraine’s second-largest city, Kharkiv, and strategic ports in the country’s south came under assault from Russian forces. By late Sunday, Russian forces had taken Berdyansk, a Ukrainian city of 100,000 on the Azov Sea coast, according to Oleksiy Arestovich, an adviser to Zelenskyy’s office. Russian troops also made advances toward Kherson, another city in the south of Ukraine, while Mariupol, a port city on the Sea of Azov that is considered a prime Russian target, is “hanging on,” Arestovich said.

With Russian troops closing in around Kyiv, a city of almost 3 million, the mayor of the capital expressed doubt that civilians could be evacuated. Authorities have been handing out weapons to anyone willing to defend the city. Ukraine is also releasing prisoners with military experience who want to fight, and training people to make firebombs. In Mariupol, where Ukrainians were trying to fend off attack, a medical team at a city hospital desperately tried to revive a 6-yearold girl in unicorn pajamas who was mortally wounded in Russian shelling. During the rescue attempt, a doctor in blue medical scrubs, pumping oxygen into the girl, looked directly into the Associated Press video camera capturing the scene. “Show this to Putin,” he said angrily. “The eyes of this child, and crying doctors.” T heir resuscitation efforts failed, and the girl lay dead on a gurney, her jacket spattered with blood. Nearly 900 kilometers (560 miles) away, Faina Bystritska was under threat in the city of Chernihiv. “I wish I had never lived to see this,” said Bystritska, an 87-yearold Jewish survivor of World War II. She said sirens blare almost constantly in the city, about 150 kilometers (90 miles) from Kyiv. Chernihiv residents have been told not to switch on any lights “so we don’t draw their attention,” said Bystritska, who has been living in a hallway, away from any windows, so she could better protect herself. “The window glass constantly shakes, and there is this constant thundering noise,” she said. Meanwhile, the top official in the European Union outlined plans by the 27-nation bloc to close its airspace to Russian airlines and buy weapons for Ukraine. The EU will also ban some pro-K remlin media outlets, said European Commission President Ursula von der Leyen. The US also stepped up the flow of weapons to Ukraine, announcing it will send Stinger missiles as part of a package approved by the White House on Friday. Germany likewise plans to send 500 Stingers and other military supplies. A lso, the 193-member UNGeneral Assembly scheduled an

Russian ICBM missile launchers move during the Victory Day military parade marking 71 years after the victory in WWII in Red Square in Moscow, Russia, on May 9, 2016. Russian President Vladimir Putin’s implied threat to turn the Ukraine crisis into a nuclear war presents President Joe Biden and US allies with choices rarely contemplated in the atomic age. One choice is whether to raise the alert level of US nuclear forces in response. Putin put Russian nuclear forces in what he called a “special regime of combat duty.” AP/Alexander Zemlianichenko

emergency session Monday on Russia’s invasion. Putin, in ordering the nuclear alert, cited not only statements by Nato members but also the hardhitting financial sanctions imposed by the West against Russia, including Putin himself. “Western countries aren’t only taking unfriendly actions against our countr y in the economic sphere, but top officials from leading Nato members made aggressive statements regarding our country,” Putin said in televised comments. US defense officials would not disclose their current nuclear alert level except to say that the military is prepared all times to defend its homeland and allies. White House press secretary Jen Psaki told ABC that Putin is resorting to the pattern he used in the weeks before the invasion, “which is to manufacture threats that don’t exist in order to justify further aggression.” The practical meaning of Putin’s order was not immediately clear. Russia and the United States typically have land- and submarine-based nuclear forces that are on alert and prepared for combat at all times, but nuclear-capable bombers and other aircraft are not. If Putin is arming or otherwise raising the nuclear combat readiness of his bombers, or if he is ordering more ballistic missile submarines to sea, then the US might feel compelled to respond in kind, said Hans Kristensen, a nuclear analyst at the Federation of American Scientists. Earlier Sunday, Kyiv was eerily quiet after explosions lit up the morning sky and authorities reported blasts at one airport. A main boulevard was practically deserted as a strict curfew kept people off the streets. Authorities warned that anyone venturing out without a pass would be considered a Russian saboteur. Terrified residents hunkered down in homes, underground garages and subway stations in anticipation of a full-scale Russian assault. Food and medicine were running low, Kyiv Mayor Vitali Klitschko said. “Right now, the most important question is to defend our country,” Klitschko said. In downtown Kharkiv, 86-yearold Olena Dudnik said she and her husband were nearly thrown from

their bed by the pressure blast of a nearby explosion. “Every day there are street fights, even downtown,” with Ukrainian fighters trying to stop Russian tanks, armored vehicles and missile launchers, Dudnik said by phone. She said the lines at drugstores were hours long. “We are suffering immensely,” she said. “We don’t have much food in the pantry, and I worry the stores aren’t going to have anything either, if they reopen.” She added: “I just want the shooting to stop, people to stop being killed.” Pentagon officials said that Russian troops are being slowed by Ukrainian resistance, fuel shortages and other logistical problems, and that Ukraine’s air defense systems, while weakened, are still operating. But a senior US defense official said that will probably change: “We are in day four. The Russians will learn and adapt.” The number of casualties from Europe’s largest land conflict since World War II remained unclear amid the confusion. Ukraine’s Interior Ministry said Sunday that 352 Ukrainian civilians have been killed, including 14 children. It said an additional 1,684 people, including 116 children, have been wounded. Russi a n Defense Minist r y spokesman Maj. Gen. Igor Konashenkov gave no figures on Russia’s dead and wounded but said Sunday his country’s losses were “many times” lower than Ukraine’s. About 368,000 Ukrainians have arrived in neighboring countries since the invasion started Thursday, according to the UNrefugee agency. Along with military assistance, the US, European Union and Britain also agreed to block selected Russian banks from the SWIFT system, whic h moves money around thousands of banks and other financial institutions worldwide. They also moved to slap restrictions on Russia’s central bank. Russia’s economy has taken a pounding since the invasion, with the ruble plunging and the central bank calling for calm to avoid bank runs. Russia, which massed almost 200,000 troops along Ukraine’s borders, claims its assault is aimed only at military targets, but bridges, schools and residential neighborhoods have also been hit. AP

Ukraine files genocide case against Russia at UN’s court T HE HAGUE, Netherlands—Ukraine launched a case against Russia at the United Nations’ highest court accusing Moscow of planning genocide and asking the court to intervene to halt the invasion and order Russia to pay reparations, the court said Sunday. The case, filed Saturday, asks the International Court of Justice, based in The

Hague, to indicate “provisional measures” ordering Moscow to “immediately suspend the military operations” that were launched February 24. The case says Russia launched its invasion of Ukraine based on false claims of acts of genocide in the Luhansk and Donetsk regions of eastern Ukraine and now is planning

genocidal acts in Ukraine. Ukraine “emphatically denies that genocide happened in the eastern regions” and says it filed the case “to establish that Russia has no lawful basis to take action in and against Ukraine for the purpose of preventing and punishing any purported genocide,” the court said in a statement.

The court will schedule a hearing soon to hear the provisional measures request. Orders by the court are legally binding, but not always adhered to. If the court is found to have jurisdiction and the case goes ahead it will likely take years to reach a conclusion. A decision on so-called provisional measures, however, could come far sooner. AP

il soared as energy and commodity markets were thrown into a state of disarray after Western nations unleashed more sanctions to isolate Russia following its invasion of Ukraine. Futures in London jumped more than 7 percent before pulling back a bit to trade near $102 a barrel. Supply was already struggling to meet the demand recovery from the reopening of economies, and any disruptions to flows from Russia—the world’s No. 3 producer— could sharply exacerbate the tightness. China and other buyers have paused purchases of the nation’s flagship Urals grade. Western nations agreed over the weekend to exclude some Russian banks from the SWIFT bank messaging system and targeted the central bank’s foreign reserves. BP Plc also moved to dump its shares in oil giant Rosneft PJSC, taking a financial hit of as much as $25 billion. Russia’s invasion of Ukraine has roiled markets from energy to metals and grains, heaping more inflationary pressure on a global economy already hit with surging costs. At least two of China’s largest state-owned banks are restricting financing for purchases of Russian commodities, underscoring the limits of Beijing’s pledge to maintain economic ties with one of its most important strategic partners in the face of Western sanctions. Against this volatile and fastmoving backdrop, Opec+ faces a trickier task than usual when it meets on Wednesday to discuss its supply policy for April. Despite the invasion, the cartel will probably stick to its plan of gradually increasing oil production, according to delegates. The group will also have to take into account the halt of some Iraqi output. “ R e mo v i n g s ome R u s s i a n banks from SWIFT could result in a disruption of oil supplies as buyers and sellers try to figure out how to navigate the new rules,” Andy Lipow, president of Lipow Oil Associates in Houston, said in a note.

Russia pumped 11.3 million barrels of oil a day in January, according to data from the International Energy Agency. The International Energy Agency pledged last week to help ensure global energy security, while India said it would support initiatives to release emergency oil reserves to help calm prices. “The surge that we’re seeing today was guaranteed, given the considerable deterioration of the Ukraine situation over the weekend,” said Vandana Hari, founder of Vanda Insights. “Markets should brace for plenty of aftershocks.” Demand destruction is the only thing that can stop oil shooting higher after the US and European allies unleashed additional curbs on Russia, according to Goldman Sachs Group Inc. The bank raised its one-month forecast for Brent crude to $115 a barrel, from $95, with significant upside risks on further escalation or longer disruption. The surprise move by BP is the latest sign of how far the West is willing to go to punish President Vladimir Putin for the invasion. The oil major has been in Russia for three decades and was staunchly defending its presence there just weeks ago. Norway’s Equinor ASA also said it will stop new investments into its Russian business and start the process of exiting joint ventures. Societe Generale SA and Credit Suisse Group AG stopped financing commodities trading from Russia, according to people familiar with the matter. The two banks, key financiers to commodity trading houses, are no longer providing the money needed to move raw materials such as metals and oil from Russia. The UK would support Group of Seven nations setting limits on the amount of Russian oil and gas its members could import “over time,” Foreign Secretary Liz Truss told Sky News on Sunday. Russia’s military “is funded by revenues from oil and gas,” so we want to cut its dependency on them, Truss said. Bloomberg News

Floods swamp Australia’s east coast, claiming 7 lives

RISBANE, Australia—Parts of Australia’s third-most populous city Brisbane were under water Monday after heavy rain brought record flooding to some east coast areas and killed seven people. The flooding in Brisbane and its surrounds is the worst since 2011 when the city of 2.6 million people was inundated by what was described as a once-in-acentury event. A 59-year-old man drowned in Brisbane’s north on Sunday afternoon after he tried to cross a flooded creek on foot and was pinned against a fence, Queensland state police said on Monday. Queensland emergency services warned life-threatening f lash f looding was occurring south of Brisbane in parts of Gold Coast city. Residents were advised to shelter where they were unless it is unsafe to do so. Access to many areas was cut in multiple places, Queensland Fire and Emergency Services said in an alert. Emergency crews made more than 100 swift-water rescues after receiving 8,000 calls for help in Brisbane and its surrounds since midafternoon Sunday, officials said. All seven flood deaths have been in Queensland state, of which Brisbane is the capital. A search continues for a solo sailor, aged in his 70s, who fell overboard from his vessel in the

Brisbane River near the city center on Saturday. Mu lt iple emergenc y f lood alerts were in place for Brisbane suburbs, where 2,145 homes and 2,356 businesses were submerged or wou ld become so Monday as the waters rose. Another 10,827 properties will be partially f looded above the f loorboards. The waters were forecast to peak less than 50 centimeters (20 inches) below the 4.46 meter (14 foot, 3 inch) flood level reached in 2011, officials said. Brisbane Lord Mayor Adrian Schrinner said the f loods are “very different” to 2011 because the rain pummeled the region for five days. In 2011, the rain had stopped days before the Brisbane River peaked and authorities had warned for several days of flooding downstream. Queensland Transport Minister Mark Bailey said major roads had been cut. Train and ferry services across Brisbane have been halted, he said. “We’re going to have localized flooding in a lot of areas for a couple of days yet,” Bailey said. South of the Queensland border, the New South Wales town of Lismore was bracing for its worst flooding on record. Downtown Lismore was inundated on Monday after days of unrelenting rain and 15,000 people had been evacuated, officials said. AP

www.businessmirror.com.ph

The World

Nearly half of Biden’s 500 million free Covid-19 tests still unclaimed

ASHINGTON—Nearly half of the 500 million free Covid-19 tests the Biden administration recently made available to the public still have not been claimed as virus cases plummet and people feel less urgency to test. Wild demand swings have been a subplot in the pandemic, from vaccines to hand sanitizer, along with tests. On the first day of the White House test giveaway in January, COVIDtests.gov received over 45 million orders. Now officials say fewer than 100,000 orders a day are coming in for the packages of four free rapid tests per household, delivered by the US Postal Service. Still, the White House sees the program as a step toward a deeper, yet more elastic, testing infrastructure that will accommodate demand surges and remain on standby when cases wane. “We totally intend to sustain this market,” Dr. Tom Inglesby, testing adviser to the Covid-19 response team, told The Associated Press. “We know the market is volatile and will come up and down with surges in variants.” The White House says Americans have placed 68 million orders for packages of tests, which leaves about 46 percent of the stock of tests still available to be ordered. Testing will become more important with mask requirements now easing, say some independent experts. “If infection control is still our priority, testing is central,” said Dr. Leana Wen, a former Baltimore health commissioner and commentator on the pandemic. “Four tests per household for one family will only last you one time. There should be enough tests for families to test twice a week.” Inglesby maintains that the pieces are falling into place to accommodate that. Private insurers are now required to cover eight free rapid tests per person, per month. Medicare coverage will start in the spring. The administration has also been making free at-home tests available through libraries, clinics and other community venues. Capacity for the more accurate PCR tests performed by labs has been built up. The White House recently put out a request to industry for ideas on how to sustain and expand domestic testing for the rest of this year. Wen says people still need a guide for when to test and how often. “Right now it is still unclear,” she said. President Joe Biden’s pivot to testing came under duress as the Omicron variant gained force just before Christmas. Tests were frustratingly hard to come by, and expensive. The White House is sensitive to criticism that help may have come too late. “There is no question some people found out they were positive from taking one of these tests and were able to keep other people from getting infected,” said Tim Manning, supply coordiNator for the Covid-19 response team. Around mid-December, with omicron projections grimmer by the day, White House officials began discussing how to make free tests available for anyone who wanted one. But if the government started siphoning up tests on the market, that would just make the shortage worse. “A critical thing to us was that anything we did had to be done in a way did not create a shortage at retail to the general public,” Manning said. The White House enlisted the Pentagon and parts of the Health and Human Services Department that had worked on the Trump administration’s vaccine development effort to distribute vaccines. Logistics experts scoured the globe for available tests. The Postal Service was designated to take the orders and deliver them. That part proved to be a good call, said Hana Schank, an expert on government technology projects with the New America thinktank. The Postal Service already had a database of every address in the land, and the means to deliver. “At the federal level the only people who have a database connected to a fulfillment engine would be the Post Office,” she said. The project took less than a month to get ready, Manning said. “We said this is not online retail,” he said. “This is emergency response, so we have go to as fast as possible.” To make sure it wasn’t just the tech savvy who would end up getting free tests, the administration targeted a share of deliveries to people in low-income areas. The White House worked with service organizations to get the word out. “We prioritized the processing of orders to the highest social vulnerability zip codes in the country,” testing adviser Inglesby said. One of the service groups was the National Association of Community Health Workers, whose members help people navigate the health care system. Executive director Denise Smith said the group was able to use its website to link more than 630,000 people to COVIDtests.gov. Overall about 20 percent to 25 percent of the tests have gone to people in distressed areas, officials said. Now that demand is way down, it’s unclear what will happen to the White House giveaway program. Allowing repeat orders is one possibility. Smith says groups like hers should get any surplus. “We know where the people are,” she said. Although the program is still in its infancy, analyst Lindsey Dawson of the Kaiser Family Foundation believes its legacy may lie in familiarizing more people with testing. “It may get someone comfortable with utilizing the tests, thinking about how they might use testing in their lives,” she said. Savita Sharaf, a retiree from the Maryland suburbs outside the nation’s capital, said she ordered her free tests around the middle of January and got them in early February. She’s tried to conserve them, for added peace of mind. In the stores, she couldn’t find tests for less than $25. “I’m so relieved because I can immediately test myself,” Sharaf said. “If we had a high vaccination rate, it would be a little easier to say let up on this program. But I feel we have to watch for the next month or two, to see what happens.” AP

BusinessMirror

Tuesday, March 1, 2022

UN bodies to hold 2 meetings on Russia’s Ukraine invasion

NITED NATIONS—The UN’s two major bodies—the 193-nation General Assembly and the more powerful 15-member Security Council—will hold separate meetings Monday on Russia’s invasion of Ukraine, a reflection of widespread international demands for an immediate cease-fire and escalating concern for the plight of millions of Ukrainians caught up in the war.

Ambassadors speak during a Security Council meeting at United Nations headquarters on February 27, 2022. AP/Seth Wenig

The Security Council gave a green light Sunday for the first emergency session of the General Assembly in decades. It will give all UN members an opportunity to speak about the war Monday and vote on a resolution later in the week that US Ambassador Linda Thomas-Greenfield said would “hold Russia to account for its indefensible actions and for its violations of the UN Charter.” French Ambassador Nicolas De Riviere announced that the Security Council will hold a meeting Monday afternoon on the humanitarian impact of Russia’s invasion, a session sought by French President Emmanuel Macron to ensure the delivery of aid to growing numbers of those in need in Ukraine. Both meetings follow Russia’s veto Friday of a Security Council resolution demanding that Moscow immediately stop its attack on Ukraine and withdraw all troops. The vote was 11-1, with China, India and the United Arab Emirates abstaining. De Riviere said France and Mexico will propose a draft resolution “to demand the end of hostilities, protection of civilians, and safe and unhindered humanitarian access to meet the urgent needs of the population.” It said it will probably be put to a vote Tuesday. Sunday’s vote in the Security Council on a resolution co-sponsored by the United States and Albania to authorize the General Assembly session was exactly the same as on Friday—11-1 and three abstentions. But because council approval for such a session is considered a procedural vote there are no vetoes and the resolution got more

doors of the place where the world meets—the UN General Assembly—to speak out and condemn an unprovoked and unjustified pure act of aggression.” “Russia must be stopped in its attempt to break the international rules-based order to replace it with its will,” he said. “All member states, especially the small ones like mine which constitute the majority of the UN, must remember that international law rules and the UN Charter are their best friend, their best army, their best defense, their best insurance.” Ukrainian Ambassador Sergiy Kyslytsya told the council that “Russia persists in its aggression” despite its initial invasion plan for this week that “failed—and we all see it.” “ This failure prompted the bloody and mad Russian leadership to order heavy shellings of the residential areas, critical infrastructure and storages of hazardous materials, in retaliation for Ukrainian resilience and resistance,” he said. “It is extremely alarming that the Russian president has resorted today to open nuclear blackmail. The world must take this threat very seriously.” Russian Ambassador Vassily Nebenzia said he voted against the resolution because the council hasn’t make “even a hint at an attempt to reach a constructive solution” on Moscow’s “legitimate concerns” about its security and Nato’s policy, which leave the door open to Ukraine’s membership. During Sunday’s meeting, he said, “once again we hear lies, deceit and fakes about the indiscriminate shelling of Ukrainian cities, hos-

than the minimum nine “yes” votes needed for approval. Last week, Ukraine asked for a special session of the General Assembly to be held under the socalled “Uniting for Peace” resolution, initiated by the United States and adopted in November 1950 to circumvent vetoes by the Soviet Union during the 1950-53 Korean War. That resolution gives the General Assembly the power to call an emergency session to consider matters of international peace and security when the Security Council is unable to act because of the lack of unanimity among its five vetowielding permanent members—the United States, Russia, China, Britain and France. The US ambassador told the council after Sunday’s vote that members had taken an important step forward in holding Russia accountable for its “unjustifiable assault, fabricated out of lies and the rewriting of history,” and now all nations can be heard in the General Assembly. “We are alarmed by the mounting reports of civilian casualties, videos of Russian forces moving exceptionally lethal weaponry into Ukraine, and the widespread destruction of civilian facilities like residences, schools and hospitals,” Thomas-Greenfield said. “To the Russian officers and soldiers, I say: The world is watching. Photographic and video evidence is mounting, and you will be held accountable for your actions. We will not let atrocities slide.” A lbanian Ambassador Ferit Hoxha called Sunday’s resolution historic because it “opens the big

pitals and schools,” he said. “The Russian army does not threaten civilians in Ukraine. It is not shelling civilian infrastructure.” Nebenzia accused “Ukrainian nationalists” of seizing civilians and using them as human shields and taking heavy equipment and multiple rocket launchers into residential areas. And he said civilians are also being threatened by “prisoners, escapees from jail, ... marauders, thieves and criminals” who have been given weapons. During the council meeting, many speakers called for diplomatic efforts to peacefully settle the crisis, and said they would be watching Ukraine-Russia meeting expected to take place on the Belarus border Monday. Thomas-Greenfield praised the Ukrainian people “in the face of Russian guns and soldiers and bombs and rockets” and their courage to sit down and talk to the Russians. Chinese Ambassador Zhang Jun welcomed “the earliest possible direct dialogue and negotiations between Russia and Ukraine” and said Beijing also supports Europe and Russia “in conducting equal-footed dialogue on European security issues and upholding the principle of indivisible security.” Ghana’s ambassador, Harold Agyeman, called on all UN members to participate in Monday’s emergency General Assembly meeting “to unite around the call for peace in stopping this unjustified war.” He said it should be done not only for this generation but also in memory of those who “speak to us from the restless graves of the two world wars.” AP

Ukrainians return from abroad to help defend their homeland

EDYKA, Poland—While hundreds of thousands of Ukrainians flee their country, some Ukrainian men and women are returning home from across Europe to help defend their homeland in the face of Russia’s invasion. Poland ’s Border Guard said Sunday that some 22,000 people have crossed into Ukraine since Thursday, when Russia invaded the country. At the checkpoint in Medyka, in southeastern Poland, many stood in a line early Sunday to cross into Ukraine. “We have to defend our homeland. Who else if not us?” said a moustachioed man in front of a group of some 20 Ukrainian truck drivers walking to the checkpoint to enter Ukraine. They came from across Europe to return to Ukraine. Another man in the group said: “The Russians should be afraid. We are not afraid.” Members of the group declined to give their names, or only gave only their first names, citing their security and that of their families.

Denis, 28, who has spent six months working at construction sites in Poland, said he was returning to Ukraine where his “everything” is. “I’m on my own here in Poland. Why should I be here? So I go, for the homeland,” said Denis, with a small Ukrainian blue-and-yellow national flag on his winter jacket. “I want to go back to join the army, to fight. We will see, we hope we will win,” he said. In the nearby city of Przemysl, Janiel, 27, was also preparing to return. An engineer by education, he has been working in construction in Wroclaw, Poland, but could not remain knowing his homeland was being attacked. “I talked to my parents and I cried. And I just decided to myself that I can’t watch that and I can’t just stay in Poland as Russians destroy our independence, destroy our cities, kill our citizens, kill our children, kill our elderly people,” he told the AP in English. Before the recent exodus, there were at least 1 million Ukrainians in Poland, working or studying. The

women often work as nannies and caretakers for the elderly across the European Union, and in many cases leave their children back in Ukraine with grandparents or other relatives. Lesa, 36, from Lviv, spoke to the AP just before entering the checkpoint building, following her brother into Ukraine. “I am afraid, but I am a mother and want to be with my children. What can you do? It’s scary but I have to,” she said. Another young woman, Alina, said she was returning to get her children and take them out of Ukraine. “We have to, we Ukrainians have to take our children away ... to allow our boys to fight,” she said. On Ukraine’s side of the border, a man was directing those arriving to a place where cars and buses were waiting to take them onward. T he Czech Republic, which borders Poland to the southwest, is planning to support Ukrainian families living in the country whose men decide to return home to fight. The Ministry of Labor and So-

cial Affairs is preparing bonuses to families who would lose income if “the men need to join the (Ukrainian) army,” Minister Marian Jurecka said. There are about 200,000 Ukrainian workers in the Czech Republic, the majority of them men. Czech railways said Ukrainian men traveling back to Ukraine can take any train free of charge. They need to travel through Poland or Slovakia to reach Ukraine. Ukrainian President Volodymyr Zelenskyy has stayed in the capital, Kyiv, boosting the morale of Ukrainian fighters as Russian troops were closing in on the city and huge explosions lit up the sky early Sunday. Zelenskyy has banned men of military age, 18 to 60, from leaving the country. Ukrainian authorities have also called on foreign volunteers to come and fight in Ukraine’s defense. In Israel, the media reported that the Ukrainian Embassy there had posted a call for anyone willing to join the fight against Russia to travel to Ukraine. The invitation, marked “Urgent” on embassy Facebook page, was later removed, the reports said. AP

A10 Tuesday, March 1, 2022 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Lessons of history: Russia-Ukraine War

our days after Russia attacked Ukraine, the number of casualties has reportedly reached thousands. Although it was not possible to independently verify the figure, reports said Ukraine inflicted more casualties in less than a week than Russia suffered over eight years of engagements in Syria. Ukraine’s Deputy Defense Minister Hanna Malyar on Sunday said in a Facebook post that Russian forces have lost about 4,300 troops, 146 tanks, 27 aircraft and 26 helicopters. From the Associated Press: “The International Committee of the Red Cross says it is aware of requests by Ukraine’s UN ambassador and others to repatriate the bodies of Russian soldiers killed in action in Ukraine but has no numbers. Ambassador Sergiy Kyslytsya tweeted Saturday that Ukraine has appealed to the ICRC “to facilitate repatriation of thousands of bodies of Russian soldiers” killed during the invasion of Ukraine. An accompanying chart claimed 3,500 Russian troops have been killed. Kyslytsya tweeted that parents in Russia should have a chance “to bury them with dignity.” “Don’t let [Russian President Vladimir] Putin hide the scale of tragedy,” he urged.” The United Nations on Saturday confirmed at least 240 civilian casualties in the fighting in Ukraine since Thursday—though the agency believed the real figures could be higher because many reports of casualties remain unconfirmed. The UN Office for the Coordination of Humanitarian Affairs relayed the count late Saturday from the UN human rights office, which has strict methodologies and verification procedures about the toll from conflict. British Foreign Secretary Liz Truss said there is a serious risk that Putin will not stop at Ukraine. She said Putin, judging by his words, wants to restore Russia’s empire and remove western forces from all former Warsaw pact countries. It means once Putin captures Ukraine, Russia will be able to station forces—land, air and missile—in bases in western Ukraine as well as Belarus to continue his occupation. The 30-nation Nato alliance earlier said it will not send forces to protect Ukraine as a non-Nato member. Ukraine is one of Nato’s “enhanced opportunity partners,” a status afforded non-member nations that have “made significant contributions to Nato-led operations and missions.” Nato says it aims to maintain and deepen cooperation with such partners. Other nations with this status are Australia, Finland, Georgia, Jordan and Sweden. Putin on Sunday told his top defense and military officials to put nuclear forces in a “special regime of combat duty.” This, he said, is in response to economic sanctions imposed by the United States and other Western nations in recent days for his invasion of Ukraine, as well as “aggressive statements regarding our country.” It was not immediately clear how Putin’s order will change the status of Russian nuclear forces, but pundits said a decision to arm Russian missiles would be taken as an escalatory move that could make the crisis even worse. Is Putin threatening to turn the Ukraine invasion into a broader nuclear war? Putin sees Ukraine as an existential threat to Russia, believing that if it enters Nato, offensive weaponry will be placed closer to the Russian border. History shows two instances that could have guaranteed peace in Europe: The first one was in 1954 when the Union of Soviet Socialist Republics suggested that it joins Nato. This was rejected by the US and UK. The second one happened in 2000 after Putin became president of Russia. He asked Nato Secretary General George Robertson: “When are you going to invite us to join Nato?” Robertson replied: “Well, we don’t invite people to join Nato, they apply to join Nato.” Putin replied: “Well, we’re not standing in line with a lot of countries that don’t matter.” Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon

Online Editor

Ruben M. Cruz Jr. Eduardo A. Davad Nonilon G. Reyes D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news@businessmirror.com.ph.

www.businessmirror.com.ph

Printed by brown madonna Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

resilient homes and communities that can withstand strong winds. Super typhoons now visit the Philippines more frequently. The death toll and damage from natural disasters are just too much for our country, and we should do something to mitigate it. We should do our part to lessen the impact of climate change by shifting to green energy and transportation. Many global automobile companies have announced plans to phase out gasoline or diesel-fueled cars, and the Philippines has just begun to promote electric vehicles for public transportation to support the transition. But we need to invest in infrastructure to make this transition not only possible, but also commercially feasible. Other areas that we should invest in are IT and digital technologies, which have helped us a lot during the pandemic. We should continue our investments in this sector to support the growth of education, banking and finance, industries, services and basically most segments of our economy. These investments will hopefully help us in our ambition to become an advance economy within this generation. It is time to invest to make up for the lost years during the pandemic and secure the future under the new normal. Covid-19 has forewarned us of our shortcomings.

he Behistun Inscription is a multilingual (three different cuneiform languages) inscription and rock relief at Mount Behistun in the Kermanshah Province of Iran. It measures 15 meters high by 25 meters wide and is 100 meters up a cliff on the major road between the capitals of Babylonia and Media.

Virtually all “fake news” is propaganda designed to get you to think one way or another. There have been some press/media stars created by using the same picture of an “injured/dead” child in several wars over several years. Recent pictures of Ukrainian children saluting their nation’s soldiers on the way to war against the Russians are actually a “replay” from a 2016 military parade.

The Old Persian text contains 414 lines and was authored by Darius the Great sometime between his coronation as king of the Persian Empire in 522 BC and his death in 486 BC. It tells of Darius’s lineage, how he fought 19 battles in a period of one year to put down multiple rebellions, and how he was victorious in all battles. The inscription was illustrated by a life-sized bas-relief of Darius I, the Great, holding a bow as a sign of kingship, with his left foot on the chest of a figure lying on his back before him.

90 years old in 1931. But in between he wrote a book titled The Crowd: A Study of the Popular Mind. Le Bon lived through the French Revolution. He witnessed the Parisian crowds burn down the Tuileries Palace, the library of the Louvre, the Palais de Justice, and other irreplaceable works of architectural art. Le Bon travelled extensively throughout Europe, Asia and North Africa and wrote many books on the people and cultures including La Civilisation des Arabes (Arabs), Voyage au Népal, and Les Premières Civilisations de l’Orient, giving an overview of the

Mesopotamian, Indian, Chinese, and Egyptian civilizations. The Crowd is considered one of the original works on crowd psychology. Le Bon was ground breaking but has created “modern” controversy. He claimed that there are several characteristics of crowd psychology: “Impulsiveness, irritability, incapacity to reason, the absence of judgement, and the exaggeration of feelings.” Le Bon theorized that the “psychological crowd” creates a “collective unconsciousness.” Street protestors would prefer the term “collective wisdom.” However, there is also a collective “dumb” that propagandists thrive on. Jesus of Nazareth said “rumors of wars” and this is where the propaganda folks have their techniques almost perfect. Remember pictures of Tropical Storm Ondoy that have been posted on social media for every rainstorm and typhoon since 2009? Virtually all “fake news” is propaganda designed to get you to think one way or another. There have been some press/ media stars created by using the same picture of an “injured/dead” child in See “Mangun,” A11

Manny B. Villar

THE Entrepreneur

he new normal is the best opportune time to invest. Entrepreneurs, small and big businessmen and the government itself should take this opportunity to spend as Metro Manila and other parts of the country prepare for the new normal under Alert Level 1. The Metro Manila Council (MMC), which is composed of the mayors in the metropolis, has already recommended the downgrade of the status of the National Capital Region to Alert Level 1 starting March 1 in view of the declining daily and active Covid-19 cases. Metro Manila mayors now feel that the Covid-19 situation is very much manageable. I can only agree with them. Less restrictive measures will stimulate business activities and lead to more employment. Both Metro Manila and most parts of the country are now classified as low risk, with over 62.5 million Filipinos fully inoculated against the virus as of last week. Alert Level 1 is the ideal economic environment. Businesses and industries are allowed to open at 100 percent of their capacity, which means more people can travel, work and earn a living. It will also mark the beginning of the endemic stage—

which means we have to learn how to live with the virus and carry on with our daily tasks without restrictions. The transition to the new normal will be smoother if we invest in the future to improve our quality of life in terms of the air we breathe, water that we drink and homes that we live in. Having learned many lessons from the pandemic, we need to adapt to changes and set new priorities. The new normal is not going to be “business as usual.” It is about responsibility. We are all in this together because our individual actions may affect other people. Both the government and the private sector should invest in spaces to ease traffic gridlock, improve the flows of commodities and enable greater mobility for our people. I am glad that even as the pandemic raged on in the past two years, we continued to build roads, bridges and railways to ensure we are prepared to take off in the new normal.

‘Wars and rumors of wars’ John Mangun

Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

The installation of 500 kilometers of bike lanes in the past two years is a prime example of how we responded to the needs of our people for mobility and better road design. We should also sustain the “Build, Build, Build” projects not only in Metro Manila, but also in other parts of the country, so that economic activities would spread to more communities. The Covid-19 experience has reminded us that we should redesign spaces to allow more ventilation and sunlight in our homes, offices, workplaces and commercial establishments. Hopefully, our engineers, architects and urban planners will take these factors into consideration when planning new developments. As I have mentioned in this space for a number of times, we should invest in health-care facilities and the pharmaceutical sector. The crisis has taught us that health takes precedence over other concerns. Investing in this sector should be reflected in our investment priorities, especially for a populous nation like the Philippines. We will soon have a large greying population, as our birth rate falls and the large segment of baby boomers joins the ranks of senior citizens and retirees. To improve our quality of life, we should invest in water resources, infrastructure and treatment plants. It is important that we protect and preserve our rivers, while making sure infrastructures are built to reduce climate-induced flooding and drought. This is the time to plan and build

Lourdes M. Fernandez

Senior Editors

Creative Director Chief Photographer

Time to invest in the new normal

OUTSIDE THE BOX

The Behistun Inscription is viewed by most historians as an early example of government propaganda. “Propaganda is communication that is used primarily to influence an audience and further an agenda. The information may not be objective and may be selectively presenting facts to encourage a particular perception to produce an emotional rather than a rational response.” Born in 1841, Gustave Le Bon was a French anthropologist, psychologist, and sociologist. Maybe his greatest achievement was dying at

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

Opinion BusinessMirror

www.businessmirror.com.ph

Tax treatment of campaign The war in Ukraine contributions Manny F. Dooc

TELLTALES

Atty. Donato U. Vergara III

Tax law for business

E have previously discussed in this column a number of times the tax implications of campaign contributions and their usages. Let me further discuss some of these in view of the issuance of Revenue Memorandum Circular (RMC) No. 222022, reminding everyone, particularly those running as candidates or participating in the May national and local elections, of their obligations. The said circular addresses the candidates, political parties, and party-list groups as well as campaign contributors of their registration, bookkeeping, invoicing, and other compliance requirements. But I will limit my discussion to the tax treatment of the campaign contributions both on the part of the contributor and the candidate or political party. On the part of the contributor. The New Civil Code of the Philippines defines donation as an act of liberality whereby a person disposes gratuitously of a thing or right in favor of another who accepts it. When a person contributes to a candidate or political party, he parts with something without consideration. A campaign contribution, therefore, falls within the definition of donation. For tax purposes, the transfer of property through donation is subject to the donor’s tax, which is now imposed at the rate of 6 percent computed on the amount of the donation. Does this apply to campaign contributions? While campaign contributions are donations, there are specific rules governing the imposition of donor’s tax. The Tax Code itself recognizes that any contribution in cash or in-kind to any candidate, political party, or coalition of parties for campaign purposes shall be governed by the Election Code. In relation to this, the Omnibus Election Code of the Philippines exempts from the imposition of the donor’s tax contributions made in cash or in-kind to candidates, political parties, or party-list groups. The exemption, however, is subject to some conditions. First, the said contribution is duly reported to the Comelec. It follows that contributions that are not reported to the Comelec shall not be entitled to the exemption. Second, only those donations/contributions that have been utilized/spent during the campaign period as set by the Comelec shall be exempt from the imposition of the donor’s tax. If the contribution is spent outside of the campaign period, the same should be subject to the donor’s tax. It should also be noted that RMC 22-2022 still refers to the old provision of the Corporation Code of the Philippines (BP Bilang 68), which prohibits domestic and or foreign corporations from giving donations in aid of any political party or candidate or for purposes of partisan political activity. Following this provision, donations made in violation of this rule shall be subject to donor’s tax and may not be deducted as political contributions on the part of the corporation. The Revised Corporation Code of the Philippines, however, limits the prohibition from giving donations in aid of any political party or candidate or for purposes of partisan political activity to foreign corporations. As there is no more prohibition from the giving of donations by domestic corporations, I believe the exemption from donor’s tax should likewise extend to their donations made in favor of candidates or political parties. On the part of the candidate and political party. There is income when there is a flow of wealth. There is no flow of wealth when the recipient of an amount of money or property is not benefited and the same is eventually disbursed or distributed. This is the reason why receipts of campaign contributions are not considered income and therefore not taxable.

While campaign contributions are donations, there are specific rules governing the imposition of donor’s tax. The Tax Code itself recognizes that any contribution in cash or in-kind to any candidate, political party, or coalition of parties for campaign purposes shall be governed by the Election Code. Campaign contributions do not form part of a candidate’s or political party’s taxable income because the same is given not for the enrichment of the concerned candidate or personal expenditures. The contributions are to be utilized for the campaign. Thus, it is a condition for the exemption of the campaign contribution from tax that it is utilized for the electoral campaign. In addition, it has to be used during the campaign period. If not, it does not qualify for exemption and should be subject to the usual taxes imposed on income. Contributions utilized before the campaign period do not comply with these requirements. Thus, the amount, net of expenses, is subject to tax. Similarly, excess campaign funds which are not returned by the candidate or political party do not comply with the conditions for exemption as they are in fact not utilized. They are flow of wealth coming into the hands of the candidate or political party, and there being no law exempting these from tax, the excess campaign funds are subject to income tax. For this May election, the excess campaign fund shall be reported for income tax purposes depending on the registration of the candidate. If he is registered as professional or self-employed, the excess campaign funds shall be declared for the quarter ending June 30, which shall be filed/paid on or before August 15 of this year. If the candidate is purely a compensation income earner, the excess fund shall be included in the income tax return to be filed on or before April 15 of the following taxable year. A candidate who is neither a self-employed nor a compensation income earner shall declare the excess campaign funds by filing a short-period return for the periodcovering January 1 up to the date of the election. Political parties and party-list groups shall follow the rules for domestic corporations in reporting the excess funds as part of taxable income. These are just among the reminders that need to be observed by candidates and political parties. A reference should be made to RMC 22-2022 for other details. The author is a senior associate of Du-Baladad and Associates Law Offices (BDB Law), a memberfirm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at donato.vergara@bdblaw.com.ph or call 8403-2001 local 320.

T is incredible how a former actor and comedian can lead his small, beleaguered nation and withstand the onslaught of one of the most powerful military powers in the world. Ukraine’s President Volodymyr Zelenskyy leads his country as it battles its autocratic neighbor, Russia, on all fronts as the latter relentlessly launches massive attacks by land, air and sea. As his country’s commander-inchief, Zelenskyy has demonstrated unflinching courage in the face of a formidable and ruthless enemy. The fierce Russian army is trying to enter the capital city, Kyiv, where Zelenskyy and his top government officials are holed up with their loyal troops.

The US government has offered to evacuate him to safety, but Zelenskyy flatly refused the offer. Instead, he boldly replied that “the fight is here and what I need is anti-tank ammunition, not a ride” to safety. As the hostilities enter the 6th day, Russia continues to rain Ukraine with artillery and cruise missiles. The heavy shelling reverberates around the cities and important military installations. As I am writing this, according to US intelligence, over 300 missiles have been launched hitting not only military targets but civilian infrastructure as well. Residential apartments and non-military government buildings were hit, killing an undetermined number of civilians. In the face of overwhelming enemy forces, Zelenskyy boldly asserted: “We are not going to lay down our weapons. We will protect the country. Our weapon is our truth, and our truth is that it’s our land, our country, and our children. And we will defend all of that.” It is obvious that his overwhelmed military forces will bravely stand up to the powerful Russian army. Zelenskyy will stay put to confront the enemy, and his forces despite all the odds will not surrender just to buy peace and prostrate themselves to a tyrannical regime that craves to rebuild the Soviet empire. The embattled country remains on edge as the Russian forces relent-

lessly attack Kyiv to take control of the capital. Battles rage on all fronts —north, east and south of the capital. To reinforce its firepower, the Ukrainian government has called on its population to arms. Long queues are seen all over Kyiv and major cities where thousands of able-bodied men are signing up for military service. In a couple of days, 15,000 automatic rifles, grenade launchers and other light weapons were distributed to volunteers. This disproves Russian President Vladimir Putin’s lies that Zelenskyy does not have the support of the people of Ukraine. Russia severely criticized the arming of the civilians and warned that it would cause unnecessary accidents and numerous casualties. But the ordinary Ukrainians are undeterred. Armed with small weapons, civilians now patrol the streets. Others who cannot join the military have presented themselves to do volunteer initiatives to lend support to the war efforts. They do medical aid, pack food supplies and ammunition, donate blood and provide intelligence information such as the Russian troops movements. They are ready to die for their country. Everyone is determined to oppose tyranny, fight evil forces obsessed with power and hatred. They are prepared to offer their lives to protect the freedom they gained after the USSR disintegrated.

Tuesday, March 1, 2022 A11

Ukrainians are brave and proud people. The word surrender is Greek to them. For instance, in Bakhmach, a northern city in Ukraine, local residents bravely stood in front of Russian tanks to prevent them from advancing. CNN reported that people on the streets knelt in front of the tanks to obstruct their path. “They are just throwing themselves under the wheels.” Despite their heavy losses, the country’s morale is high and people are determined to defend their country at all costs. Putin claimed a couple of days ago that they offered to talk and negotiate to end the war but Ukraine declined to negotiate. But former Ukraine president, Petro Poroshenko, said in an interview with CNN that the world should not trust Putin. “I want to ask all the CNN viewers, all the people of the world, with one very simple request: Please don’t trust Putin. And, two, don’t be afraid of Putin.” Putin claimed that he ordered half of his troops to halt their advance pending negotiations but attacks were resumed when Zelenskyy refused to talk. Poroshenko declared that he is proud of his people and country for facing the enemy in battle. He said that Ukrainians are willing to die to defend Ukraine. “I hate the idea of having my country occupied… All the young and the old people fully understand that we have the risk… But many make a decision to take the rifle and to protect the nation. I’m proud of these people. I’m proud of this country, and I’m proud to be a Ukrainian.” Ukrainians offered stiff resistance as heavy fighting continued to repulse the invaders. Ukrainians are brave and proud people. The word surrender is Greek to them. For instance, in Bakhmach, a northern city in Ukraine, local residents bravely stood in front of Russian tanks to prevent them from advancing. CNN reported that people on the streets knelt in front of the tanks to obstruct their path. “They

are just throwing themselves under the wheels.” Despite their heavy losses, the country’s morale is high and people are determined to defend their country at all costs. Ukraine, previously known as Soviet Ukraine, was one of the constituent republics of the Soviet Union from 1922 until the dissolution of the USSR in 1991. It became an independent state in 1991 after the breakup of the Soviet Union. It has close to 50 million population. Ukraine has adopted the democratic system of government and has freely elected its leaders. European Union countries have become its biggest trading partners, replacing Russia. It has expressed its desire to join the EU and Nato to the extreme disgust of Russia, as expected. By invading Ukraine, Russia seeks to overthrow a democratically elected government. Its desire is to oust the present leadership under Zelenskyy. Putin wants to install his own puppet government, which will be strongly proMoscow. Zelenskyy claims that Putin has designated him as target number 1, and his family as target number 2. This is the first time since WWII that a major European power invaded its neighbor without any justification. This reminds us how Nazi Germany annexed Poland, which eventually resulted to the Second World War. This marks the darkest days since 1939 when Germany made its intention clear to gobble up European countries. But Ukraine is giving the world a neat lesson on how to oppose an aggressor and a bully. Russia may eventually succeed with its evil design, but the Ukrainians’ unparalleled heroism will go a long way in demonstrating that patriotism cannot be stifled by the mightiest military power. They show us how to die for their country and their conviction. As our national hero, Dr. Jose P. Rizal, has once said: “One only dies once, and if one does not die well, a good opportunity is lost and will not present itself again.” And another Filipino martyr echoed it when he declared: “If a people cannot fight for their freedom, they do not deserve it.”

American fracking vet in Ukraine maneuvers to keep gas flowing By Paul Takahashi | Bloomberg Opinion

Kyiv to ease, he finally made his way toward Lviv on Friday, taking 14 hours compared with the usual six. There were some harrowing moments along the way, like when he drove past a military base that had been hit by a cruise missile just minutes earlier. His friends back in the US told him he’s crazy to stay—“most people are not impressed by my decision”—but Tolmachev said he couldn’t see himself abandoning his newly adopted home at a moment like this. “I really like it here and I like what this country stands for,” he said in an interview. Naftogaz accounts for about 70 percent of the nation’s annual gas output. So far, none of its 6,400 employees have been hurt in the conflict, Tolmachev said Sunday. But as fighting draws closer to its facilities, the company is shutting in wells, securing equipment and getting workers out of harm’s way. Most of its infrastructure is functioning, although some assets have been damaged, Chief Executive Officer Yuriy Vitrenko said Friday

in an interview with Bloomberg Television. Airstrikes in Kyiv are a concern because the company’s technology infrastructure is located there, he added. Russian gas also continues to flow via Ukraine to Europe, despite reports that a pipeline carrying the fuel caught fire in Kharkiv as Russian troops entered Ukraine’s second city overnight. Tolmachev said the fire hasn’t affected Naftogaz’s operations. Tolmachev, the son of two petroleum engineers, moved to the US from Kazakhstan in 1996 to study petroleum engineering at the University of Oklahoma. After college, he spent 21 years in the US shale oil and gas industry. He became a naturalized US citizen in 2016. After stepping down as the chief operations officer for Montage Resources Corp. following its acquisition by Southwestern Energy Co. in 2020, Tolmachev was approached by Naftogaz to head up its exploration and production division. Despite only visiting Ukraine once when he was a child, Tolmachev, 47, jumped at the opportunity. He looked up Kyiv on YouTube, liked what he saw and moved with his family. “I felt like this was a great opportunity for me, but also a great opportunity to do something amaz-

ing that could change the lives of people here, to help get this country on the path of energy independence and independence from Russian politics,” he said. “If we were able to do that, this would change things significantly, not just in Ukraine, but in Europe as well.” Since joining the company, Tolmachev said his team has been able to arrest the long-term decline in Naftogaz’s gas production. Still, he never envisioned working in a war zone. As tensions escalated over the past month, Tolmachev sent his wife and 10-yearold son to Budapest. He decided to leave Kyiv as well after the shelling began. “My apartment is actually located right next to the president’s office, the parliament and the cabinet,” Tolmachev said. “I realized if it gets circled by the Russian military and they really come to take the president’s office, I’m going to be right in the middle of it.” He plans to go back to work on Monday in Lviv, coordinating team meetings to help keep the gas flowing. “This whole expedition is a huge miscalculation on the part of the Russian Federation,” Tolmachev said. “This country has the desire to fight. I hope and I’m sure that they will prevail and persevere.”

The warmongers and war profiteers will do anything to gain your support and they have the active complicity of the press and media. US President Dwight D. Eisenhower’s “military–industrial complex” has been enlarged to the “military-industrial-media complex.” They cannot take a chance that the American antiwar slogan from the “hippies”

during the Vietnam War might come true. “Suppose They Gave a War and No One Came?” The Russian invasion of Ukraine is a global disaster. As in all crimes, only the perpetrator is to blame. But we as all part of the “psychological crowd,” how much were we propagandized by all involved to almost eagerly anticipate and then

accept that the war was inevitable as happened in the Vietnam War? “The men who spurred us on/ Sit in judgement of all wrong/ They decide and the shotgun sings the song.”

orn in Belarus, raised in Kazakhstan and schooled in the ways of fracking in the shale fields of America, Oleg Tolmachev arrived in Kyiv 13 months before the bombs started falling.

The mandate he had been given was a crucial one: Apply the complex drilling methods he learned in the US to the tight rock formations that dominate much of the Ukrainian oil and gas landscape and, in the process, help wean the country off Russian energy. Naftogaz, the company that hired Tolmachev to oversee production, is the nation’s dominant gas supplier. If the lights are going to stay on and homes are to keep warm in the harsh Ukrainian winter, Tolmachev is going to have to find a way to keep the gas flowing. So when the explosions marking the start of the Russian invasion jarred him awake early Thursday morning, he knew what to do. He grabbed his stash of cash, his Garmin InReach satellite messenger and his Swiss Shepherd dog Maya, and pointed his SUV west toward Lviv, the Ukranian city along the Polish border that Naftogaz top executives designated as a command center if fighting broke out. After waiting anxiously for a whole day for the gridlock created by the wave of refugees fleeing

Mangun. . .

Continued from A10

several wars over several years. Recent pictures of Ukrainian children saluting their nation’s soldiers on the way to war against the Russians are actually a “replay” from a 2016 military parade.

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

A12 Tuesday, March 1, 2022

Amended Public Service Act to be signed soon–Salceda

By Jovee Marie N. dela Cruz

@joveemarie

HE proposed new Public Service Act was transmitted on Monday to the office of President Duterte, who is expected to sign it soon, as the certified measure is deemed vital to economic recovery, House Committee on Ways and Means chairman Joey Sarte Salceda said. The Albay representative, principal author and sponsor of the measures amending the Public Service Act, said, “The reform is the most important economic reform since the CREATE Law,” adding, the reform “comes in handy as we are looking for growth that will not be debt-driven but

investment-driven.” W it h t he “ f reed-up f i sc a l space” being limited by the huge Covid-19 debts, the new PSA will boost the entry of foreign direct investments (FDI), which will “help fill the gap” in sourcing capital for public investments needs that government spending cannot

fill, Salceda explained. According to the lawmaker, the measure will be particularly important to “closing the country’s investment gap,” as the bill, once enacted, “will encourage investment in sectors that are essential to public welfare.” The measure effectively opens up to 100-percent foreign equity all economic sectors in the country except the transmission and distribution of electricity, water pipeline and sewerage, seaports, petroleum pipeline, and public utility vehicles. Salceda said the measure is the closest that the country has been to overcoming the “growth overhang caused by the 1987 Constitution’s foreign equity restrictions.” “It’s a massive reform because it opens us to foreign capital. We

need a lot of foreign capital. We have plenty of domestic talent, but they leave for abroad because the capital required to hire them is invested abroad.”

P299-B FDI boost

MEANWHILE, Salceda expects the proposal to yield “massive” impacts on job creation and investments. “We expect an increase in FDIs by around P299 billion over the next five years from the final version the sectors that will be opened up as a result of the PSA amendments. We also expect gross value added (GVA) growth in these areas to cause a GDP growth rate that is 0.47 percentage points higher than the baseline,” Salceda said. “On a practical level, the impacts could also be huge for the

Filipino family. Why do other countries pay more for our labor, attracting OFWs? They have capital that we do not have for our own national development. Abroad, our workers build public services with foreign capital on foreign soil. Why don’t we just bring the foreign capital here and let our workers build our own country with foreign investments instead?” he said. “I thus expect very strong jobs growth in telecoms, heavy transport, and other key public services as a result of foreign capital infusions due to the PSA amendments,” Salceda added. “That will help encourage some of our OFWs to devote their skills and expertise in the country instead, because there will be more jobs that require their skills, with-

out the added burden of having to leave their families,” Salceda said. Also, Salceda described the bill as “a boon to consumers.” “Apart from the fact that more competition means lower prices generally, we also imposed a provision that if public utilities and public services exceed the rates set by the regulators, they have to refund the excess collections from the public, and also pay fines,” Salceda said. “Consumers stand to benefit from the PSA amendments immediately. Of course, in the long r un, we are a lso bound to create more jobs and maybe even be able to send many OFWs home, as we ex pect new FDI due to the refor m to come f rom c apit a l - s t a r v e d pu bl ic ser v ices,” he added.

1st Swissôtel opening in the PHL bodes well for tourism investments By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

CCOR, a world-leader in hospitality management, has finally opened its first Swissôtel property at the Clark special economic zone (CSEZ), Pampanga. In a news statement, Accor CEO for Southeast Asia, Japan and South Korea Garth Simmons said 270 Premium and Swiss Advantage Rooms will be available for booking during the soft opening period which begins on March 1, with the rest of the 372-room hotel complex opening its doors in the last quarter of 2022. “The Swissôtel brand is internationally renowned for its high standard of Swiss hospitality that is infused with the freshness and vibrancy of alpine energy. In every detail of

the Swissôtel experience, vitality is the key philosophy that focuses on well-being and enjoying a high quality of life. We are delighted to introduce our first Swissôtel property in the Philippines, which will keep the brand’s promise of promoting quality in life. Swissôtel Clark will offer an inspiring atmosphere, complimented by authentic Filipino charm,” he said. Swissôtel forms part of the threehotel, integrated Hann Casino Resort, owned by the Widus Group of South Korea. Clark SEZ is one of the most popular tourism destinations in Central Luzon, with its close proximity to Metro Manila, being just about an hour away via the North Luzon Expressway. It is also served by local and international carriers via the Clark International Airport. Continued on A3

BBM gets rousing welcome in weekend visit to Pangasinan

BONGBONG MARCOS acknowledges supporters in Pangasinan. PHOTO FROM UNITEAM MEDIA BUREAU

E may have been absent from the CNN Philippines presidential debate, but former senator Ferdinand “Bongbong” Marcos Jr. was busy barnstorming in vote-rich Pangasinan province where, his camp said, citing “consolidated data from the Philippine National Police (PNP),” more than 2 million people stepped out of their homes for every caravan and rally during his UniTeam’s two-day visit. One of them. Cezar Acosta, 77, of Barangay Dumapot, Santa Maria, Pangasinan, patiently waited for Marcos to arrive in their area to show his artwork. The Partido Federal ng Pilipinas (PFP) standard-bearer noticed Acosta and immediately stopped to sign his artwork. Acosta burst into tears of joy

and recalled his experiences under the administration of former president and Bongbong’s father, Ferdinand E. Marcos Sr. He said he has loved the Marcoses ever since, and his whole family will go solid for Bongbong. A farmer leader, 47-year old Jemuel Bagitan, said he woke up early to join the caravan. He and fellow motorcycle riders joined the caravan which they call “the road to success.” Some supporters went on top the roofs of their tricycles, climbed a tree or roof, and used ladders just to see their presidential bet. In every street the caravan passed by, supporters shouted, “BBM” or “Marcos pa rin!” whenever they saw their candidate. Non-stop honking coming from motorcycles, bikers, and vehicles also greeted the BBM-Sara Uniteam caravan.

THE virtual audience, courtesy of Microsoft Teams, is seen at the UST venue of the CNN debates. NONIE REYES

Bets, ‘audience’ meet via tech at CNN debates By Jasper Emmanuel Y. Arcalas @jearcalas

HE deep blue lights devoured the interiors of the four-story Quadricentennial Pavilion, turning the live audience into mere silhouettes. The presence of the crowd, mostly close-ins of the candidates, could only be detected when their smartphones lit up to check Twitter feeds or when they made noises either to cheer their bets or boo other candidates. Some 50 other people looked like trees in a foggy forest. Stationary. Unmoved. Seemingly distant. But all were fluid like branches swaying with cool breeze blasted by industrial air-conditions: camera men being on-point with their visuals, technical crew manning the lights, sounds and screens, directors and producers orchestrating the three-hour debate from the shadows. And there were another at least 30 people seated—firm and composed—in front of the stage. All were very important people, among them ranking officials of University of Santo Tomas, led by Rector Fr. Richard G. Ang and executives of CNN Philippines, with the company’s president Benjamin V. Ramos present during the twoday debates. All eyes were glued to the stage where men and a woman stood for more than two hours as they wooed voters to vote them to the two highest positions of the land. But as the clock ticked to 4 p.m., an hour before the debates, the empty black and blue seats projected in the LED panels were filled slowly as

virtual participants popped up. The presidential and vice presidential hopefuls and the moderators were not alone on stage. At least 392 spectators, miles away from the empty 5,000-seater pavilion, tried to fill the hollowness of the venue by sending a message: the Filipino electorate is watching.

Overwhelming joy

OVERJOYED. This was what Christine Joy Almonte felt when she received the e-mail invitation from CNN Philippines to be part of the virtual audience of the vice presidential and presidential debates over the weekend. “I knew there was a slim chance that I would be chosen but they still did. I told myself: definitely not to miss this opportunity,” Almonte, a graduating behavioral science student from UST, told the BusinessMirror. “As a graduating college student and a representative in the academe, I’ve been very invested with the upcoming national elections, as I am about to enter the workforce very soon,” Almonte added. The presence of a virtual audience during a debate - the first in the country - was made possible by the partnership of CNN Philippines and UST with Microsoft Philippines. Interested attendees filled-up an online form registration for both debates. Interested participants were given the opportunity to submit three questions for the candidates. Selected participants were advised to wear collared tops with neutral colors, preferably white, and prohibited from wearing any

campaign-related paraphernalia. Sleeveless shirts for men and low necklines for women were also not allowed. Stripes or printed tops were discouraged. Virtual participants were also advised not to eat heavy meals during the event since it was televised and streamed not just nationwide but globally—meaning, no toilet breaks. “I only drank water,” Almonte, who attended both the #CNNPHVPDebate and #CNNPHPresidential debate, quipped. “But I ate homemade beef shawarma during the commercial break of the presidential debate.” For Almonte, the virtual experience seemed like a “watch party.” Her favorite part was the show of hands “because it showed our active participation, whether we agree or disagree to the points raised by the vice presidential aspirants. For Almonte, the two-day experience did not only help firm up her vote come May 9 but also allowed her to disseminate factual and useful information to fellow Filipino voters. “I will not only be using the information for my own personal consumption, but I will also be sharing it with others who are yet to decide on their choice of candidates. One of my aims in virtually participating in the debate is to disseminate them to the masses. So, this truly was helpful,” she said.

Capitalizing technology

Eldrin Veloso, a marketing professional, lauded the CNN Philippines’ initiative to take advantage of available technology to allow ordinary Filipinos to be part of

the debates—challenging due to mobility and health restrictions related to the Covid-19 pandemic. “I was never involved in political campaigns before, so I was not able to attend debates in person. But CNN Philippines took advantage of technology allowing us to be up on screen with candidates,” Veloso, 29, told the BusinessMIrror. “It’s a relief to be in a video call not related to work, but rather to the future of our country.” Veloso said the presence of the virtual audience was “more symbolic than functional.” At least even if just there, I hope candidates can ‘see’ the people they will serve while they’re speaking.” An “added bonus was seeing the other virtual audience reacting the same way you did. It might not look like it but it feels different from watching it through social media platforms alone,” he said. Veloso based about 80 percent of his vote on candidates’ debate performances. “In debates, not only do you see the real-time demeanor and behavior of the candidates, but also how they manage themselves to keep overall integrity amid various stimuli,” he explained. He did bring popcorn, albeit “mental,” during the vice presidential debate. “I took a bite of my mental popcorn every time Walden Bello spoke,” he said, adding that he also posted real-time updates on Twitter to expand the discussion in the social media platform about the debates. Like Veloso, Naomi Fontanos, 34, shared that her virtual experience affirmed the “importance” of “informed” choice during elections. See “Bets,” A2

Companies

Editor: Jennifer A. Ng

Tuesday, March 1, 2022

SMIC 2021 income surges 65% on spending rebound By VG Cabuag

@villygc

M Investments Corp. (SMIC), the holding firm of the Sy family, on Monday said its income rose 65 percent last year to P38.5 billion from the previous P23.4 billion, mainly as a result of its strong performance in the fourth quarter of 2021. Consolidated revenues grew 9 percent to P428.1 billion from the previous P394.2 billion, the company said. “We saw a rebound in consumer spending in the run up to Christmas as restrictions across the country eased. This led to improved performance in our retail and mall units as our banks continued to deliver solid results,” SMIC President and CEO Frederic C. DyBuncio said.

“It is our hope that the further easing of restrictions after the latest surge in Covid cases will lead to sustained recovery of the economy and our businesses as the country adjusts to living with the virus. We are committed to continue our expansion plans,” DyBuncio said. Banking contributed 51 percent of its net income; property, 25 percent; retail, 17 percent; and portfolio

investments, 7 percent. “We believe our portfolio investments have strong assets, synergies with our core businesses and enormous long-term growth potential,” DyBuncio said. Among its portfolio investments, SMIC increased its ownership in Goldilocks Bakeshop Inc. to 74 percent and 2GO Group Inc. to 53 percent in 2021. SM Retail Inc., which consists of food and non-food stores, reported revenues at P303.9 billion up by a mere 2 percent from the previous P296.8 billion. Net income, however, grew more than double to P9.6 billion from P4.1 billion, mainly as a result of the growth in sales of its department and specialty stores. Despite the challenges of the pandemic, the company continued to expand its retail footprint. Its department store opened two new stores in Caloocan and Camarines Norte last year. The food group, which includes

SM Markets—supermarket, hypermarket and Savemore--Alfamart and WalterMart added 219 new stores last year. By the end of the year, SM Retail added 294 new stores across the entire portfolio for a total of 3,215 outlets, consisting of 68 department tores, 1,539 specialty retail stores, 62 supermarkets, 52 hypermarkets, 214 Savemore, 73 WalterMart and 1,207 Alfamart stores. Shopping mall operator SM Prime Holdings Inc.’s consolidated net income grew by 21 percent to P21.8 billion in 2021 from P18 billion in the previous year, despite reporting flat revenues growth. Lender BDO Unibank Inc. recorded a net income of P42.8 billion in 2021, an increase of more than 50 percent from the previous P28.2 billion. China Banking Corp. posted a 25-percent increase in net income to P15.1 billion from last year’s P12.07 billion.

Maynilad fined for water outages By Jonathan L. Mayuga @jonlmayuga

& Butch Fernandez @butchfBM

he Metropolitan Waterworks and Sewerage System Regulatory Office (MWSS RO) will impose a financial penalty on Maynilad Water Services Inc. (Maynilad) for the “unusual and prolonged water service interruptions” between December 2021 and February 2022. The water service interruptions were attributed to the failure of the company’s Putatan Water Treatment Plants (PWTP). MWSS RO Chief Regulator Patrick Lester N. Ty said Maynilad failed to meet its service obligation of ensuring the availability of an uninterrupted 24-hour supply of water at 7 pounds per square inch (psi) minimum pressure to all connected customers in its service areas. “The customers within the PWTP Supply Zone were found to have been deprived of the water service obligation for at least 15 days, which adversely impacted their health and welfare,” Ty said. The MWSS RO also earlier called the attention of Maynilad, through a Notice to Explain issued on February 11, for its nonadherence to the water service interruption ( WSI) schedules announced through its public

advisories on the planned WSIs caused by water quality problems at the PWTP. “This observed non-adherence was evidenced by the complaints escalated by Maynilad customers to the MWSS RO, the consistent complaints monitored by the MWSS RO on social media, and the results of the random verification conducted by the MWSS RO on the adherence/ nonadherence of Maynilad to its public advisories,” Ty said.

Bill rebates

According to Ty, the MWSS RO is set to implement the financial penalty in the form of bill rebates to affected Maynilad customers within the PWTP’s Supply Zone by April. He revealed the MWSS is already in the process of identifying all accounts that will be covered by its rebate program, the rebate amount for each account, and the policies and procedures for carrying out the Program, in coordination with Maynilad. The MWSS and Maynilad are also targeting to conduct a public information drive to clarify the bill rebates and inform affected customers of the nature, scope, and other details of the rebate program in March. Ty said updates will also be posted on the MWSS RO’s official Facebook page (@MWSS.RO), Twitter account (@mwssro), and website (ro.mwss. gov.ph).

The MWSS RO has directed Maynilad to observe strict adherence to the details of its announced WSI schedules and to fast-track the implementation of its proposed solutions for the immediate resumption of uninterrupted services to all its customers. “The welfare of the consumers should remain the paramount priority, especially during this time when water is most essential for preventing the spread of the Covid-19 virus.” This developed, as Senator Grace Poe pointed out that the penalty imposed by MWSS should “serve as a clarion call to water providers to put premium to quality service at all times.” In a separate statement, Poe reminded that “access to water is a fundamental human right. It is not acceptable for our consumers to just grin and bear when taps run dry.” She affirmed that “we expect a just rebate to our consumers that will reflect on their bills at the promised time. This will be a welcome relief for the households who endured the months without a steady water supply.” As the summer months come, Poe added, “we also expect that water concessionaires have drawn out contingencies to meet the water needs in their areas of coverage,” stressing that this is “a mandate of their concession and their responsibility to the paying consumers.”

SBMA posts record income in January

ubic Bay Freeport—After capping 2021 with an 8-percent growth in revenue despite the Covid-19 pandemic, the Subic Bay Metropolitan Authority (SBMA) posted an income of P387 million last January, the highest ever recorded by the Subic agency. The resurgence of business operations in the free port fueled the latest revenue rally, which eclipsed last year’s level of P295 million by P92 million, or 31 percent, said SBMA Chairman and Administrator Wilma T. Eisma. The highest monthly revenue previously recorded by the SBMA was P358 million in June 2019. Other record highs were seen in December 2021 at P343 million; October 2020, P337 million; October 2018, P324

million; and July 2017, P298 million. Eisma said the record-breaking income in January was accompanied by other positive indicators: an 11-percent increase in operating expense that was higher by P10 million; a 41-percent growth in earnings before interest, taxes, depreciation and amortization (EBITDA); and a 20-percent increase in net income before tax with subsidy, which at P222 million was higher by P38 million. SBMA’s seaport operations alone, Eisma said, contributed P221.4 million to the record, with P91.62 million from cargo charges; P75.32 million in SBMA share from terminal income; P34.17 million in leases and rentals; and P12.28 million in vessel charges. “We are hoping that this January

record will be a foretaste of what’s to come in the succeeding months, as we ease down into normalcy with the waning Covid-19 pandemic,” Eisma said on Monday. She said the SBMA “has really set its sights higher this year, especially with seaborne trade, after realizing an actual increase in container cargo traffic even at the height of the pandemic in 2021.” According to a profit and loss statement from the SBMA Financial Planning and Budget Department, a P111-million collection from land and building leases also boosted the January figure. It was further enhanced by P28 million in regulatory income; P8 million in housing leases; P6 million in airport operations; and P12 million in miscellaneous income. Henry Empeño

SMPC profit leaps on coal price rally

By Lenie Lectura @llectura

onsunji-led Semirara Mining and Power Corp. (SMPC) posted its highestever net income last year. It ended 2021 with a net income of P16.2 billion, a 393-percent leap from the previous year’s P3.3 billion, mainly due to an 8-percent rise in coal production, 16-percent jump in coal shipments and 71-percent surge in average coal selling prices. “Our results reflect the hard work of our people. They rose to the challenges of the pandemic and delivered exceptional value to our stakeholders,” said SMPC President and COO Maria Cristina C. Gotianun. Contributions from the coal segment grew by 535 percent to P11.4 billion from P1.8 billion while both power subsidiaries delivered improved performances.

Sem-Calaca Power Corp. contributed P3.3 billion, a 154-percent upturn from P1.3 billion the previous year. Meanwhile, Southwest Luzon Power Generation Co. recorded a 1,563-percent rise in contributions to P1.4 billion from P87 million. For the fourth quarter alone, SMPC saw its net income balloon to nearly 20 times to P5.9 billion from P297 million, its highest profit level for any given quarter. Average selling prices from October to December rallied by 229 percent to P4,452 from P1,354 as global supply disruptions and accelerated demand from China, India and Europe pushed index prices to record levels. Elevated coal prices offset the impact of lower shipments, which was nearly halved to 2.5 million metric tons (MMT) from 4.6 MMT owing to weather-induced coal production drops in the third quarter.

Companies BusinessMirror

Tuesday, March 1, 2022

Meralco income jumps 44% on energy demand recovery

By Lenie Lectura

@llectura

HE Manila Electric Co. (Meralco) reported robust earnings in 2021 due to higher energy sales volume and contributions from its power generation business. Core profit grew by 13 percent to P24.6 billion last year from P21.7 billion in 2020. Net income, meanwhile, jumped by 44 percent year-on-year to P23.5 billion from P16.3 billion due to the absence of exceptional charges arising from the impairment recognized in 2020 on its investment in PacificLight Power Pte. Ltd. Consolidated revenues went up by 16 percent to P318.5 billion from P275.3 billion, mainly driven by electricity revenues, which grew by 15 percent to P309.2 billion. Energy sales volumes returned to near pre-pandemic levels as customer count reached 7.4 million at end-2021. Consolidated distribution util-

ity energy sales volumes in 2021 rose by 6 percent to 46,073 GWh (gigawatt hours) from 43,572 GWh in 2020 driven by sustained residential consumption, ramp-up in commercial volumes amid more relaxed quarantine restrictions, and strong industrial rebound within the franchise areas. Energy sales volumes from Meralco and Clark Electric Distribution Corp. rose by 6 percent and 10 percent, respectively. In terms of the sales mix, residential sales accounted for 37 percent, while commercial and industrial sales accounted for 33 percent and 30 percent, respectively. Continued work-from-home and

remote learning set-ups amid granular lockdowns pushed residential sales volume to grow 3 percent yearon-year to 16,913 GWh from 16,488 GWh, despite the slowdown in the second half of 2021 due to the coolest temperatures recorded in the last five years, as well as increased mobility of vaccinated individuals outside their homes. Commercial sales volumes, meanwhile, went up by 3 percent to 15,234 GWh in 2021 from 14,766 GWh, owing to the ramp-up of vaccination activities and ease in restrictions, as well as higher foot traffic and relaxed rules for minors that drove demand in the retail, restaurants, public transport, and hospitality sectors. Industrial sales volumes returned to near pre-pandemic levels, registering the highest increase of 13 percent to 13,782 GWh from 12,176 GWh, backed by the strong performance of the semiconductor industry with the high demand for microchips, electronic parts, and devices, as well as higher operational output in the construction-related, food and beverage, and plastics industries. Meralco’s customer count stood at 7.4 million at end-December. En-

ergization of new customers hit an all-time high, exceeding 2019 and 2020 levels. As of end-December, Meralco spent P27.5 billion for capital expenditures (capex), of which almost P16.4 billion went to networks capex, which would be used to fund new connections, asset renewals, load growth projects, support for the government’s “Build, Build, Build” program and the Meralco Electrification Program. Operating expenses amounted to P31.7 billion, higher by 23 percent than the 2020 figure due to the increase in maintenance activities for distribution facilities amid easing quarantine restrictions, higher expenses of Meralco PowerGen Corp. (MGen) with the consolidation of GlobalBusiness Power Corp., and the increase in expenses of other subsidiaries. Its power generation arm, MGen, contributed P1.2 billion to Meralco’s core profit. The amount, which was higher than the P435 million the previous year, was mainly driven by the contributions of San Buenaventura Power Ltd. Co. and PowerSourceFirst Bulacan Solar Inc.

JoyRide now offers car hailing services By Lorenz S. Marasigan @lorenzmarasigan

oyRide, a motorcycle taxi hailing platform that brands itself as a super app, is expanding its services to include car hailing services, after the Land Transportation Franchising and Regulatory Board (LTFRB) approved its bid to be recognized as a transport network company (TNC). With the issuance of the certificate of accreditation, JoyRide plans to offer JoyRide Car, which will directly compete with super app Grab. “We view this as a good development as commuters will now have another viable choice for safe, comfortable, and affordable car rides to their destination,” JoyRide SVP for Corporate Affairs Noli Eala said. JoyRide is now encouraging transport network vehicle service

operators and drivers to register as partners. Aside from motorcycle taxis, JoyRide also offers express deliveries, shopping as a service, and tricycle ride hailing. It also offers delivery services for enterprises, an online marketplace, and Covid-19 home testing. “We continue to grow faster than ever, because, for us, this is just the beginning of our endless pursuit of providing quality service, innovation, and empowerment to help the millions of Filipinos achieve digital inclusion and make living their lives a lot easier,” Eala said. JoyRide started its operations in December 2019 solely as a motorcycle taxi hailing platform. To date, JoyRide has about 20,000 driver partners, operating in Metro Manila, Rizal, Bulacan, Cavite, Laguna, Baguio, and Metro Cebu.

mutual funds

February 28, 2022

NAV

One Year Three Year

Five Year

per share Return*

Y-T-D Return

Stock Funds ALFM Growth Fund, Inc. -a

230.73

7.39%

-4.32%

-1.74%

-1.01%

ATRAM Alpha Opportunity Fund, Inc. -a

1.5557

19.97%

-0.81%

2.2%

-6.52%

-8.02%

-4.41%

-1.13%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.2011

8.31%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7573 0.2%

-6.95% n.a.

0.11%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7304 6.63%

-5.19% n.a.

-5.25%

First Metro Save and Learn Equity Fund,Inc. -a

9.86%

-2.3%

-0.01%

-0.82%

First Metro Save and Learn Philippine Index Fund, Inc. -a

5.1404

0.7717

11.65%

-4.06%

-3.39%

MBG Equity Investment Fund, Inc. -a

91.62

-6.92%

-9.61% n.a.

-2.98%

PAMI Equity Index Fund, Inc. -a

47.221

6.71%

-3.07%

-0.29%

-1.88%

Philam Strategic Growth Fund, Inc. -a

495.36

7.16%

-2.98%

-0.69%

Philequity Dividend Yield Fund, Inc. -a

1.3697

22.84%

1.6%

2.32%

0.99%

Philequity Fund, Inc. -a

36.2496

9.74%

-2.01%

0.79%

-0.94%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9421

10.05%

-2.91% n.a.

0.07%

Philequity PSE Index Fund Inc. -a

4.8863

7.9%

-2.32%

0.42%

-1.5%

Philippine Stock Index Fund Corp. -a

813.4

7.37%

-2.4%

0.34%

-1.82%

Soldivo Strategic Growth Fund, Inc. -a

0.7425

-1.06%

8.51%

-6.45%

-2.63%

-1.34%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.7272

8.82%

-4.55%

-0.93%

-1.28%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a

0.9265

6.89%

-2.73%

0.08%

7.78%

-2.48%

1.03%

-0.94%

United Fund, Inc. -a

3.4051

-1.48%

-1.91%

Primarily invested in Peso securities (units) Philequity Alpha One Fund, Inc. -a

1.1818

Philippine Stock Index Fund Corp. -a

997.66 n.a. n.a. n.a. n.a.

13.45% n.a. n.a.

1.64%

Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c

109.6192

7.83%

-2.14%

0.82%

-1.67%

Primarily invested in foreign currency securities (shares) $1.0812

-18.71%

2.03%

3.5%

-4.02%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.665

ATRAM AsiaPlus Equity Fund, Inc. -b

-4.48%

10.02%

8.83%

-9.82%

Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a

1.6539

0.43%

-1.23%

-0.71%

-2.25%

ATRAM Philippine Balanced Fund, Inc. -a

2.2591

2.74%

-0.62%

-0.11%

-0.98%

5.75%

0.52%

1.39%

-0.62%

First Metro Save and Learn Balanced Fund Inc. -a 2.6743

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.2085

9.16% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a

3.68%

1.56%

1.9961

1.78%

-1.02% -1.35%

PAMI Horizon Fund, Inc. -a

3.7141

1.91%

0.81%

0.62%

Philam Fund, Inc. -a

16.6517

2.08%

0.5%

0.56%

-1.15%

Solidaritas Fund, Inc. -a

2.1054

3.78%

-0.44%

0.5%

-0.75%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6086 4.47%

-1.83%

0.03%

-1.06%

Sun Life Prosperity Dynamic Fund, Inc. -a

-0.45%

0.56%

-0.37%

0.9507

11.28%

-0.24%

Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a

0.9666

-1.28%

-0.67% n.a.

-2.34%

Sun Life Prosperity Achiever Fund 2038, Inc. -a

0.922

2.09%

-2.09% n.a.

-2.38%

0.9115

2.99%

-2.44% n.a.

-2.4%

Sun Life Prosperity Achiever Fund 2048, Inc. -a

Primarily invested in foreign currency securities (shares) Cocolife Dollar Fund Builder, Inc. -a $0.03597 PAMI Asia Balanced Fund, Inc. -b

$1.0581

-6.57%

0.2%

0.33%

-5.19%

-11.08%

2.29%

2.69%

-0.84%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.4428 -4.45%

7.05%

6.42%

-7.48%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a,2 $1.1319 -4.91%

3.18%

2.91%

-5.56%

Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a

373.73

0.69%

2.63%

2.44%

ATRAM Corporate Bond Fund, Inc. -a

1.8859

-0.97%

0.4%

0.01%

-0.15% 0.06%

Cocolife Fixed Income Fund, Inc. -a

3.2423

0.76%

2.68%

3.72%

-0.05%

Ekklesia Mutual Fund Inc. -a

2.2256

-2.36%

1.18%

1.19%

-1.15% -0.34%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4178 -0.48%

2.78%

1.77%

Philam Bond Fund, Inc. -a

4.3316

-5.4%

3.37%

1.22%

-1.46%

Philam Managed Income Fund, Inc. -a

1.3155

-0.3%

3.48%

2.77%

-0.27%

Philequity Peso Bond Fund, Inc. -a

3.9302

-0.92%

3.15%

2.45%

-0.9%

Soldivo Bond Fund, Inc. -a

1.0204

-0.46%

3.9%

1.9%

-0.76%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1703

-0.64%

3.81%

3.06%

-0.54%

Sun Life Prosperity GS Fund, Inc. -a

-1.34%

2.97%

2.34%

-0.76%

1.7174

Primarily invested in foreign currency securities (shares) 2.54%

2.24%

ALFM Euro Bond Fund, Inc. -a

Є217.57

-0.82%

0.41%

0.65%

-1.11%

ATRAM Total Return Dollar Bond Fund, Inc. -b

ALFM Dollar Bond Fund, Inc. -a

$487.04 $1.1405

-6.39%

0.77%

-0.35%

0.53%

-5.27%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.0254 -2.68% PAMI Global Bond Fund, Inc -b

0.53%

0.4%

-2.31%

-2.52%

-1.85%

-4.75%

2.17%

1.5%

-5.34%

2.21%

1.59%

-1.32%

0.36%

-6.23%

$0.9742

-9.09%

$2.3719

-5.06%

$0.0614719

-1.75%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.997 -4.85%

0.68%

Philam Dollar Bond Fund, Inc. -a Philequity Dollar Income Fund Inc. -a

-0.52%

Money Market Funds Primarily invested in Peso securities (shares) 131.39

1.04%

First Metro Save and Learn Money Market Fund, Inc. -a

1.0595

Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3186

ALFM Money Market Fund, Inc. -a

1.5%

2.44%

2.55%

2.54%

0.15%

1.84% n.a. 2.51%

0.17%

0.23%

Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0615

0.69%

1.34% n.a.

0.08%

Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

45.0671 n.a. n.a. n.a. n.a.

Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.2891

9.12% n.a. n.a.

-6.78%

Primarily invested in foreign currency securities (units) ALFM Global Multi-Asset Income Fund Inc. -a

$0.908

-7.35% n.a. n.a.

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago.

c - Listed in the PSE.

-6.39%

d - in Net Asset Value per Unit (NAVPU).

1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2021.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa.com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

February 28, 2022

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALs

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG NTL REINSURANCE PHIL STOCK EXCH

44.1 129.2 98.1 26.5 7 8.97 57.1 9.31 19.8 20.4 114.8 98.75 1.85 4.02 2.38 0.63 211.2

45 130 100 26.55 8.39 9.05 57.4 9.88 19.9 21 116.7 100 1.93 4.04 2.44 0.67 224.4

44 130.1 98 25.8 8.49 9.2 59.05 9.89 19.96 20.3 112.6 97.45 2 4.03 2.45 0.62 219

44 134.7 100 26.5 8.49 9.36 59.55 9.89 19.96 21 116.7 101 2 4.04 2.45 0.67 224.6

44 129.2 97.6 25.8 8.49 8.95 57.1 9.3 19.72 20.3 112.6 97 1.79 4.02 2.43 0.62 197

44 129.2 100 26.5 8.49 8.97 57.1 9.3 19.8 21 116.7 100 1.93 4.04 2.43 0.67 224.4

900 8,453,790 4,682,250 101,100 200 1,449,600 7,083,030 14,200 156,700 16,400 350,970 7,350 764,000 79,000 61,000 2,000 38,280

39,600 1,102,396,669 463,115,106 2,654,820 1,698 13,070,145 409,753,809.50 135,289 3,111,206 333,615 40,615,647 721,526 1,426,700 317,850 148,740 1,290 8,036,548

INDUSTRIAL

AC ENERGY 8.4 8.5 8.25 8.5 8.25 8.5 25,695,300 216,652,969 ALSONS CONS 1.02 1.03 1 1.05 1 1.04 8,000 8,290 ABOITIZ POWER 35.6 36 34.4 36 34.1 36 4,028,700 141,210,250 0.5 0.51 0.52 0.53 0.5 0.51 9,903,000 5,079,520 BASIC ENERGY 27.8 27.9 27.15 27.9 27.15 27.9 552,900 15,350,465 FIRST GEN FIRST PHIL HLDG 70.65 70.75 70.65 70.75 70.6 70.65 13,360 943,490.50 MERALCO 368 368.8 361 368 361 368 519,010 190,148,112 19.9 20 21 21 19.76 20 1,361,100 27,548,823 MANILA WATER 3.43 3.44 3.4 3.49 3.4 3.44 2,364,000 8,149,490 PETRON 4.22 4.4 4.1 4.49 4.1 4.4 265,000 1,158,690 PETROENERGY PHX PETROLEUM 10.32 10.74 10.74 10.74 10.22 10.74 16,800 178,168 SYNERGY GRID 12.24 12.26 12.5 12.5 12.16 12.24 3,814,700 46,834,228 18 18.36 19 19 18 18 188,400 3,471,796 PILIPINAS SHELL 13.98 14 14.4 14.4 13.9 13.98 411,000 5,754,792 SPC POWER VIVANT 15.02 16 14.32 15.98 14.32 15.98 4,500 71,080 AGRINURTURE 5.15 5.16 4.7 5.2 4.5 5.17 3,045,000 15,738,660 AXELUM 2.65 2.79 2.7 2.79 2.65 2.79 300,000 823,120 13.02 13.6 13.6 13.6 13.6 13.6 100 1,360 CNTRL AZUCARERA CENTURY FOOD 25.5 26.75 24.3 26.75 24.3 26.75 1,094,200 28,799,385 DEL MONTE 15.38 15.44 15.44 15.5 15.38 15.44 86,700 1,337,392 DNL INDUS 8.01 8.03 7.91 8.2 7.9 8.01 2,377,000 19,067,910 19.32 19.52 19.9 19.9 19.3 19.32 2,284,900 44,300,314 EMPERADOR 66.9 67 66.5 67 65.15 67 270,030 18,009,753.50 SMC FOODANDBEV FIGARO COFFEE 0.68 0.69 0.69 0.72 0.68 0.69 42,198,000 29,369,330 FRUITAS HLDG 1.18 1.19 1.18 1.23 1.16 1.19 8,952,000 10,545,630 GINEBRA 108 111.4 106.8 112 106.2 111.4 6,420 689,712 240 241 236 245 236 241 1,154,100 277,056,188 JOLLIBEE 1.24 1.25 1.26 1.27 1.2 1.25 13,683,000 16,872,660 KEEPERS HLDG MAXS GROUP 6.22 6.43 6.15 6.43 6.15 6.43 110,500 696,557 MG HLDG 0.143 0.157 0.15 0.15 0.142 0.142 810,000 115,820 15.54 16.52 14.9 16.52 14.9 16.52 28,305,200 452,668,558 MONDE NISSIN 8.2 8.6 8.11 8.89 8.11 8.2 208,400 1,721,796 SHAKEYS PIZZA 0.65 0.67 0.64 0.65 0.64 0.65 46,000 29,820 ROXAS AND CO ROXAS HLDG 1.1 1.16 1.08 1.1 1.08 1.1 76,000 83,270 SWIFT FOODS 0.102 0.105 0.103 0.103 0.102 0.102 1,670,000 170,800 120 120.4 120.5 121.2 119.5 120 2,286,910 274,718,159 UNIV ROBINA 0.66 0.67 0.65 0.67 0.65 0.66 284,000 186,900 VITARICH CONCRETE B 49.05 57.95 52.5 57.95 49 49 100,100 5,799,355 CEMEX HLDG 0.99 1 0.98 1.03 0.98 1 11,629,000 11,639,190 13.66 13.8 13.62 13.8 13.6 13.64 61,700 846,274 EAGLE CEMENT 5.99 6 6.24 6.24 6 6 425,300 2,553,321 EEI CORP 6.2 6.28 6.18 6.29 6.13 6.28 1,102,600 6,916,441 HOLCIM MEGAWIDE 5.15 5.29 5.1 5.15 5.01 5.15 273,400 1,387,186 PHINMA 20.5 20.9 20.9 20.9 20.5 20.9 22,600 470,950 0.78 0.8 0.8 0.8 0.78 0.78 46,000 36,480 TKC METALS VULCAN INDL 1.01 1.02 0.99 1.04 0.98 1.01 3,349,000 3,381,390 EUROMED 1.26 1.35 1.3 1.3 1.26 1.27 6,000 7,670 LMG CORP 3.8 3.97 3.96 3.97 3.96 3.97 3,000 11,890 PRYCE CORP 5.66 5.7 5.76 5.77 5.7 5.7 281,500 1,609,442 1.78 1.8 1.81 1.88 1.74 1.8 10,470,000 19,018,820 GREENERGY 8.3 8.37 8.21 8.76 8.21 8.3 469,900 3,910,720 INTEGRATED MICR IONICS 0.72 0.73 0.74 0.74 0.72 0.73 84,000 61,400 PANASONIC 5.91 6 5.9 6.11 5.9 6.11 2,200 13,232 1.15 1.18 1.17 1.19 1.14 1.15 167,000 192,130 SFA SEMICON 3.58 3.6 3.5 3.64 3.49 3.6 1,093,000 3,900,170 CIRTEK HLDG

HOLDING & FRIMS

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP METRO PAC INV PACIFICA HLDG PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP WELLEX INDUS

0.87 5.02 850 59.9 12.72 8.41 0.99 0.7 0.69 5.1 8.48 7.11 578 60.3 6.89 0.59 2.96 9.45 3.85 2.77 1.2 892 106.2 0.285

0.88 5.06 859 60 12.8 8.55 1 0.71 0.7 5.2 8.49 7.6 580 61 7.04 0.6 2.98 9.68 3.86 2.99 1.22 900 107.3 0.3

0.87 845 59.8 12.52 8.49 0.94 0.66 0.69 5.1 8.25 7.1 565 61.5 6.5 0.58 2.96 9.24 3.76 2.97 1.19 871.5 107.6 0.3

0.91 860 60.5 12.92 8.5 0.99 0.72 0.75 5.2 8.58 7.7 592 62.45 6.89 0.6 2.96 9.68 3.86 2.97 1.22 910 108 0.3

0.85 843.5 59.45 12.5 8.4 0.94 0.65 0.69 5.06 8.25 7.1 563 60.3 6.5 0.58 2.96 9.2 3.76 2.97 1.19 871.5 105.4 0.285

0.88 850 59.9 12.8 8.5 0.99 0.71 0.7 5.1 8.48 7.7 578 60.3 6.89 0.6 2.96 9.68 3.86 2.97 1.22 892 106.2 0.285

7,069,000 367,880 1,443,290 4,684,800 38,000 595,000 21,890,000 1,607,000 1,238,000 19,317,000 23,000 329,410 4,699,570 3,100 142,000 70,000 3,979,300 32,619,000 7,000 122,000 483,700 129,460 1,340,000

6,183,940 313,079,175 86,459,028.50 59,907,322 322,359 586,010 15,246,180 1,139,660 6,307,742 163,742,311 168,140 190,603,445 284,777,261.50 21,320 84,230 207,200 37,930,197 125,048,390 20,790 146,140 433,665,965 13,786,653 400,800

PROPERTY

ARTHALAND CORP 0.59 0.6 0.61 0.61 0.6 0.6 865,000 519,070 AYALA LAND 38.85 39 37.2 39 37.05 39 16,803,900 648,035,205 AYALA LAND LOG 5 5.01 4.73 5.01 4.62 5 6,238,000 30,987,710 0.97 1.01 0.96 1.01 0.96 1.01 20,000 19,250 ARANETA PROP AREIT RT 49.3 50 49 51.15 48.1 49.3 2,623,700 130,116,865 A BROWN 0.85 0.89 0.92 0.92 0.85 0.89 1,336,000 1,137,510 CITYLAND DEVT 0.71 0.73 0.71 0.72 0.71 0.71 73,000 51,920 0.096 0.099 0.095 0.099 0.095 0.099 320,000 30,810 CROWN EQUITIES CEB LANDMASTERS 2.92 2.95 2.9 2.96 2.9 2.92 737,000 2,140,720 0.415 0.42 0.415 0.415 0.415 0.415 690,000 286,350 CENTURY PROP CITICORE RT 2.71 2.72 2.72 2.78 2.7 2.72 38,166,000 104,165,370 DOUBLEDRAGON 10.3 10.36 10 10.36 9.81 10.36 1,210,800 12,283,971 1.77 1.78 1.78 1.79 1.77 1.77 5,301,000 9,409,960 DDMP RT 6.97 7 6.9 7 6.9 7 83,800 585,585 DM WENCESLAO EMPIRE EAST 0.246 0.255 0.25 0.255 0.25 0.255 50,000 12,550 EVER GOTESCO 0.285 0.29 0.29 0.295 0.275 0.29 14,820,000 4,255,100 FILINVEST RT 7.54 7.55 7.31 7.6 7.29 7.55 6,444,800 48,471,599 1.09 1.1 1.09 1.1 1.08 1.1 5,114,000 5,596,110 FILINVEST LAND 0.93 0.95 0.92 0.95 0.92 0.95 144,000 132,510 GLOBAL ESTATE 8990 HLDG 13.66 13.8 13.88 14 13.58 13.8 130,000 1,803,152 GOLDEN MV 630 645 645 645 645 645 110 70,950 1.01 1.02 1.01 1.02 1.01 1.01 422,000 426,630 PHIL INFRADEV 0.83 0.85 0.82 0.83 0.82 0.83 58,000 47,740 CITY AND LAND MEGAWORLD 3.18 3.2 3.2 3.22 3.12 3.2 19,969,000 63,531,570 MRC ALLIED 0.275 0.28 0.27 0.29 0.27 0.275 17,200,000 4,806,500 MREIT RT 19.9 19.92 19.68 20 19.42 19.92 1,815,800 35,692,172 0.34 0.36 0.34 0.34 0.34 0.34 10,000 3,400 OMICO CORP PHIL ESTATES 0.46 0.465 0.47 0.47 0.455 0.46 4,660,000 2,141,500 PRIMEX CORP 2.06 2.07 2.07 2.07 2.02 2.06 1,445,000 2,989,500 RL COMM RT 7.77 7.78 7.6 7.98 7.6 7.78 4,815,700 37,737,367 19.22 19.38 18.98 19.5 18.44 19.22 7,816,500 149,234,628 ROBINSONS LAND 0.237 0.255 0.27 0.275 0.233 0.255 2,580,000 644,270 PHIL REALTY ROCKWELL 1.44 1.45 1.47 1.48 1.45 1.45 20,000 29,380 SHANG PROP 2.58 2.6 2.6 2.6 2.6 2.6 15,000 39,000 STA LUCIA LAND 2.8 2.91 2.92 2.92 2.74 2.92 38,000 108,590 39.75 39.8 37.35 39.8 37.35 39.8 30,854,700 1,215,998,735 SM PRIME HLDG 3.45 3.58 3.43 3.46 3.43 3.45 31,000 106,920 VISTAMALLS SUNTRUST HOME 1.03 1.04 1.06 1.06 1.04 1.04 316,000 331,410 VISTA LAND 3.06 3.07 3.11 3.15 3 3.06 5,298,000 16,243,250 SERVICES ABS CBN 12.8 12.9 12.98 12.98 12.6 12.9 42,400 545,530 GMA NETWORK 14.5 14.52 14.22 14.6 14.2 14.5 1,094,800 15,773,160 MANILA BULLETIN 0.4 0.425 0.425 0.425 0.425 0.425 40,000 17,000 9.38 9.97 9.97 9.97 9.97 9.97 100 997 MLA BRDCASTING GLOBE TELECOM 2,568 2,600 2,640 2,686 2,568 2,568 177,830 460,650,270 PLDT 1,770 1,799 1,782 1,799 1,752 1,799 179,040 318,823,240 APOLLO GLOBAL 0.068 0.069 0.07 0.071 0.067 0.068 197,110,000 13,687,510 26 26.3 26.9 27.3 26 26 12,309,800 325,690,255 CONVERGE 2.28 2.3 2.26 2.34 2.26 2.28 478,000 1,086,730 DFNN INC 5.91 5.93 6.08 6.22 5.82 5.91 36,840,000 220,931,122 DITO CME HLDG JACKSTONES 1.6 1.64 1.64 1.64 1.64 1.64 1,000 1,640 NOW CORP 1.22 1.23 1.23 1.25 1.22 1.23 565,000 696,610 0.33 0.335 0.34 0.36 0.33 0.33 6,260,000 2,143,100 TRANSPACIFIC BR 7.35 7.5 7.5 7.5 7.34 7.5 6,000 44,184 2GO GROUP ASIAN TERMINALS 14 14.4 14.4 14.4 14.4 14.4 3,000 43,200 CHELSEA 1.71 1.74 1.71 1.78 1.69 1.71 382,000 658,340 CEBU AIR 46.05 46.1 46.7 46.9 46.05 46.1 415,300 19,253,370 210.6 213 209 214 208.8 210.6 1,948,890 411,195,816 INTL CONTAINER 5.6 5.63 5.63 5.85 5.55 5.6 2,429,700 13,774,106 MACROASIA METROALLIANCE A 0.99 1.04 1 1 1 1 32,000 32,000 HARBOR STAR 0.8 0.82 0.81 0.82 0.8 0.82 206,000 165,660 1.46 1.5 1.46 1.5 1.46 1.5 15,000 22,420 ACESITE HOTEL DISCOVERY WORLD 1.7 1.75 1.7 1.75 1.7 1.75 7,000 12,000 WATERFRONT 0.46 0.465 0.465 0.465 0.465 0.465 200,000 93,000 CENTRO ESCOLAR 6.85 6.88 6.89 6.89 6.89 6.89 1,100 7,579 STI HLDG 0.36 0.365 0.36 0.36 0.355 0.36 780,000 277,350 1.32 1.33 1.33 1.34 1.33 1.34 144,000 192,060 BELLE CORP BLOOMBERRY 7.4 7.42 7.01 7.44 7.01 7.4 14,232,000 102,705,499 PACIFIC ONLINE 1.76 1.83 1.75 1.75 1.75 1.75 5,000 8,750 LEISURE AND RES 1.3 1.33 1.33 1.35 1.25 1.33 12,783,000 16,849,730 1.86 2.29 1.84 1.84 1.84 1.84 6,000 11,040 MANILA JOCKEY MJC INVESTMENTS 1.11 1.15 1.11 1.11 1.11 1.11 50,000 55,500 PH RESORTS GRP 1.15 1.16 1.14 1.27 1.14 1.15 10,447,000 12,436,850 PREMIUM LEISURE 0.43 0.44 0.425 0.44 0.425 0.44 6,350,000 2,752,700 PHIL RACING 5.1 6.79 5.1 5.1 5.1 5.1 70,000 357,000 2.3 2.34 2.22 2.34 2.2 2.3 385,000 871,860 PHILWEB ALLDAY 0.5 0.51 0.495 0.52 0.49 0.51 34,806,000 17,426,250 BERJAYA 5.63 5.85 5.65 5.65 5.65 5.65 2,300 12,995 ALLHOME 8.58 8.79 8.4 8.8 8.4 8.79 973,800 8,454,623 1.42 1.43 1.38 1.43 1.38 1.42 480,000 681,420 METRO RETAIL PUREGOLD 35.15 35.2 35 35.5 34.85 35.15 1,380,300 48,382,450 59.8 61.7 57.1 61.7 57.1 61.7 1,026,060 62,570,877 ROBINSONS RTL PHIL SEVEN CORP 78 79 80 80 79 79 37,800 3,021,480 SSI GROUP 1.11 1.12 1.08 1.12 1.08 1.11 2,173,000 2,407,800 29.25 29.35 27.5 29.4 27.45 29.25 2,968,600 86,041,915 WILCON DEPOT 0.241 0.25 0.245 0.25 0.241 0.241 1,680,000 411,390 APC GROUP IPM HLDG 6.7 6.98 6.7 6.98 6.65 6.98 1,700 11,396 MEDILINES 1.03 1.04 1.04 1.09 1.04 1.04 3,984,000 4,184,980 PRMIERE HORIZON 0.7 0.71 0.77 0.81 0.69 0.7 61,085,000 44,689,590 3.9 3.99 3.79 3.9 3.6 3.9 198,000 730,870 SBS PHIL CORP

MINING & OIL ATOK 6.35 6.38 6.2 6.39 6.1 6.38 92,800 584,124 APEX MINING 1.77 1.78 1.75 1.78 1.71 1.78 5,262,000 9,262,420 6.88 6.9 6.55 6.94 6.55 6.9 1,967,300 13,295,065 ATLAS MINING 4.71 5.48 4.5 4.5 4.5 4.5 83,000 373,500 BENGUET B CENTURY PEAK 2.61 2.73 2.73 2.73 2.73 2.73 25,000 68,250 DIZON MINES 4.9 5.48 4.99 5 4.99 5 16,000 79,900 2.57 2.6 2.47 2.61 2.46 2.6 8,083,000 20,692,060 FERRONICKEL 0.2 0.208 0.198 0.205 0.198 0.205 670,000 136,480 GEOGRACE LEPANTO A 0.168 0.169 0.171 0.171 0.165 0.169 27,100,000 4,577,550 MANILA MINING A 0.01 0.011 0.01 0.01 0.01 0.01 32,000,000 320,000 MANILA MINING B 0.01 0.011 0.01 0.01 0.01 0.01 1,003,800,000 10,038,000 1.74 1.75 1.69 1.75 1.69 1.74 4,531,000 7,824,100 MARCVENTURES NIHAO 1 1.11 1.03 1.12 1 1 529,000 563,670 NICKEL ASIA 7.69 7.71 7.7 7.77 7.55 7.71 6,915,100 52,989,696 ORNTL PENINSULA 0.95 0.96 0.91 0.95 0.91 0.95 3,375,000 3,170,980 PX MINING 5.93 5.98 6.04 6.09 5.9 5.93 3,266,600 19,532,123 27.7 27.75 26.75 27.7 26.05 27.7 7,078,300 192,788,065 SEMIRARA MINING 0.0072 0.0074 0.0073 0.0073 0.0072 0.0073 16,000,000 116,700 UNITED PARAGON ACE ENEXOR 25.2 25.25 25.95 25.95 25 25.25 226,000 5,785,620 ORNTL PETROL A 0.012 0.013 0.013 0.013 0.012 0.012 16,400,000 205,000 0.0094 0.0095 0.0094 0.0094 0.0094 0.0094 10,000,000 94,000 PHILODRILL PXP ENERGY 6.41 6.42 6.75 7.09 6.31 6.41 4,061,000 27,342,952 PREFFERED HOUSE PREF A 99 101 101 101 101 101 580 58,580 AC PREF B1 503.5 514.5 503 503 503 503 4,020 2,022,060 AC PREF B2R 504 519.5 519.5 519.5 519.5 519.5 20 10,390 104.5 105 104.9 105 104.9 105 2,000 209,950 BRN PREF A 45.35 46.55 46.6 46.6 45.1 45.35 23,600 1,069,780 CEB PREF CPG PREF A 101 102 101.6 102 101.6 102 7,240 737,680 DD PREF 100 101 99.9 101 99.9 101 105,010 10,490,510 109.5 110 110 110 110 110 56,000 6,160,000 EEI PREF B FGEN PREF G 102.5 104.4 104 104 104 104 2,300 239,200 JFC PREF A 991 1,000 990 990 990 990 500 495,000 JFC PREF B 1,000 1,001 1,001 1,001 1,001 1,001 1,175 1,176,175 MWIDE PREF 4 100 100.5 100.3 100.5 100.3 100.5 6,600 663,109 101.1 103.1 103.1 103.1 103.1 103.1 40 4,124 PNX PREF 3B PNX PREF 4 981 989 990 990 982 990 1,070 1,057,730 PCOR PREF 3A 1,050 1,069 1,050 1,050 1,045 1,045 5,200 5,435,000 PCOR PREF 3B 1,078 1,129 1,080 1,080 1,080 1,080 985 1,063,800 SMC PREF 2F 76.85 78.8 78.4 78.4 76.7 76.85 12,150 934,202 76 76.6 75.8 76.6 75.8 76.6 187,660 14,235,636 SMC PREF 2H SMC PREF 2J 76.4 77.25 76.4 76.4 76.4 76.4 500 38,200 TECH PREF B2C 50.6 53.5 50.5 53.5 50.5 53.5 1,150 58,525 TECH PREF B2D 52.2 54 55 55 55 55 150 8,250 PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 11.92 12 12.1 12.1 11.9 11.9 27,300 327,070 GMA HLDG PDR 13.7 13.8 13.7 13.76 13.7 13.7 1,051,300 14,408,954 WARRANTS TECH WARRANT 0.77 0.78 0.76 0.81 0.76 0.78 726,000 571,920

-297,410,542 54,137,871.50 26,400 -2,159,669 -132,638,685.50 -236,398 290,915 20,943,499 -63,538.50 2,450 1,014,280 24,905,198 3,996,605 8,160 10,894,420 4,267.00 30,450,154 -4,084,034 -89,300 -49,200 -5,110 8,452,788 -2,671,842 364,068 -3,515,650 78,510 13,969,770 -175,822 1,884,764 -30,156,158.00 690,350.50 1,466,880 -2,430 38,053 4,465,080 1,683,600 51,045 204,754,548 -613,032 102,000 -91,085,775 309,890 -275,600 18,000 -609,562 -128,245 29,820 -9,897,150 1,661,424 -10,530 60,730 30,250,400 -10,851,362 -9,815,088 35,000 2,086,017 3,816,341 -105,090 -31,766,585 29,168,978 -23,680 26,114,252 1,860,180 137,533,870 -354,085 8,400 107,588,525 -1,217,030 -30,700,455 -223,270 20,373,850 -383,569.00 67,290 28,852,041 2,548,330 -2,716 -58,580 16,400 -2,737,880 661,400 -12,740,326 -1,831,700 9,675,612 -36,622,550 423,033,285 -3,450 4,200 -6,190,260 -151,669,470 -31,885,305 132,160 16,893,110 -356,780 -90,373,831 13,200 -2,350,275 -2,172,738 808,355 3,500 69,750 7,579 14,400 -7,466,447 -1,750 -40,000.00 -195,300 23,775 5,650 2,243,566 -21,331,985 15,827,576 -523,880 -537,460 45,701,715 -436,840 -308,530 2,116,610 5,239,040 -373,500 68,250 347,970 26,880 6,643,566 -67,340 -820,365 43,670,850 -200,995 -4,560 50,300 -52,450 () -327,070 -13,698,440

SMALL & MEDIUM ENTERPRISES ALTUS PROP HAUS TALK ITALPINAS MERRYMART XURPAS

16.52 0.96 1.03 2.13 0.41

17 0.97 1.04 2.14 0.415

EXHANGE TRADE FUNDS

FIRST METRO ETF

110

111

16.5 0.97 1.03 2.16 0.405

16.52 0.98 1.04 2.2 0.42

16.5 0.95 1.01 2.1 0.405

16.52 0.97 1.04 2.14 0.415

7,200 1,724,000 765,000 2,223,000 1,090,000

118,802 1,665,300 783,880 4,756,850 444,400

() 4,950 1,920 -49,570 -

109 111 108 111 49,520 5,408,422 863,715

www.businessmirror.com.ph

BTr rejects all bids for T-bills on high rates By Bernadette D. Nicolas @BNicolasBM

HE Bureau of the Treasury (BTr) rejected all bids for P15 billion in Treasury Bills (T-bills) it offered last Monday as bid rates went up with investors weighing several headwinds, including the Russia-Ukraine crisis. All tenors of T-bills on offer fetched average rates that were higher than the previous auction as well as secondary market rates. Total bids attracted during the auction reached P18.5 billion, slightly exceeding the P15 billion on offer. Should the Treasury fully award the 91-day T-bills, the rates for the debt papers would have been 1.49 percent, a 59.1-basis point surge from the previous auction’s 0.899 percent. Meanwhile, the average rate for the 182-day T-bills would have reached 1.736 percent or a jump of 57.9 basis points from 1.157 percent. In terms of the 364day T-bills, the rates would have capped at an average of 1.865 percent, higher by 29.7-basis points from 1.568 percent if the Treasury fully awarded the securities. Apart from the Russia-Ukraine crisis fanning the surge in oil prices, the potential interest rate hike move from the US Federal Reserve in its March meeting and the expected higher inflation in the country for this year are triggering market jitters. For this month, the Treasury was hoping to borrow P250 billion from the local debt market, slightly higher than the P200 billion programmed in February. To raise P250 billion, the government scheduled to offer P75 billion in Tbills and another P175 billion in Treasury bonds. For this year, the government is expected to borrow a total of P2.2 trillion, around 75 percent of which is expected to come from domestic sources. As of end-2021, the government’s outstanding debt has already reached P11.73 trillion while the country’s debtto-GDP (gross domestic product) ratio soared to a 16-year-high of 60.5 percent.

Banking&Finance BusinessMirror

By Bianca Cuaresma

@BcuaresmaBM

HE Bangko Sentral ng Pilipinas (BSP) reported a sustained rise in the country’s lending activities, with growth nearing pre-pandemic levels in January this year. In a report last Monday, the BSP said bank lending grew by 8.5 percent in January this year, marking the sixth consecutive month of bank

lending acceleration in the country. Bank lending first collapsed into the contraction territory in December 2020 by 0.7 percent as the restric-

tions brought about by the pandemic affected the local banking industry. The contraction persisted amid the sustained all-time low monetary policy rate in place. In comparison, bank lending grew 13.6 percent before the onslaught of the global health crisis in March 2020. The January loan growth pace was a strong development from the revised 4.8 percent loan growth in December 2021. Broken down, outstanding loans to residents went up by 8.7 percent in January from 4.8 percent in December. The BSP attributed this to faster growth in loans for production activities.

Outstanding loans for production activities increased by 9.6 percent in January from 6.0 percent in December due to the expansion in credit activity for real estate activities (16.8 percent); financial and insurance activities (17.1 percent); information and communication (31.4 percent); and manufacturing (11.5 percent). Consumer loans to residents also increased marginally by 0.1 percent in January after a 5.9-percent decline in the previous month, The Central Bank said this was driven mainly by the year-on-year rise in credit card loans. This is the first time household

Firms’ crowdfunding licenses OK’d by SEC By VG Cabuag

@villygc

HE Securities and Exchange Commission (SEC) has given a license to SeedIn Technology Inc. and Eastern Securities Development Corp. to act as crowdfunding intermediaries and operate crowdfunding portals. In its en banc meeting on February 23, the SEC approved the respective applications of SeedIn Technology and Eastern Securities for registration as crowdfunding intermediaries, both of which aims to provide the country’s small, medium and emerging enterprises with funding options. The SEC granted SeedIn Technology a permanent license with a one year provisional license. The firm and its use of the license would be subject to frequent monitoring by the SEC Markets and Securities Regulation Department for one year. SeedIn is a debt-based crowdfunding platform that facilitates lending by all types of investors, including retail investors, accredited investors and

institutional investors to Philippinebased SME borrowers. The company’s platform matches debt issuers with its registered investors who must have a registered bank account with a licensed Philippine financial institution. Investors may also lend money through SeedIn Technology’s platform using funds from an overseas bank account, subject to compliance with all relevant laws, including foreign exchange requirements. SeedIn Technology is majorityowned by Singapore-based SeedIn Technology Holding Pte. Ltd., which primarily offers management consultancy services. Eastern Securities, meanwhile, also secured a permanent license from the SEC, with a one year provisional license. The company’s operations will be subject to frequent monitoring by the SEC, in which, from time to time, the agency request operational data from the company for its first two years of operation. Eastern Securities, a registered stock brokerage, will be operating “Round

Karlo Biglang-Awa

personal finance you in navigating your financial life. Being accountable with someone can help both of you in thriving in your finances. 3. Create a spending plan. Budgeting together will help your household plan out your priorities. If you are starting your family, it is important to establish your monthly income and expenses to avoid overspending. This can help your family to avoid bad debts in the future especially when you have kids already. If both of you are working, you may agree with certain bills assignment. For example, the husband will take charge of amortization, rent and major expenses while the spouse may pay the utilities and focus on setting investments. It really depends on the earning capacity and agreement. 4. Acknowledge your differences. As much as possible, do not allow finances to be a battleground. It should

be a place of team work. But in reality, there will be differences in perspective because you and your spouse have different backgrounds. In this way, focus on collaboration and not competition with one another. 5. Maintain a lifestyle lower than your household income. Getting married is fun and fulfilling. It is a season for you and your spouse to build your dreams together and bless people. On the other hand it can be daunting if the expenses are not monitored early on. A big income should not necessarily equate to a luxurious lifestyle. Of course we want to live a comfortable life but as much as possible we need to be wise as well. You may agree together for a lifestyle that you are both comfortable wherein there will be no compromise in money management. As income and responsibilities increases, we will need additional cash flow but then that should not equate to excessive spending that can result to debts. 6. Set investment goals. Once a healthy financial foundation is in place, setting investment goals together will allow both of you to stay motivated. Building a business or working

One Platform,” which will be the first equity-based crowdfunding platform licensed in the Philippines. Through the platform, issuer-users can initiate and conduct fundraising campaign activities, while investor-users can commit investible funds to those campaigns. Potential issuers through “Round One” must provide Eastern Securities with the details of the offering, including share price, total fundraising target and total equity offered, among others. Prospective investors may browse the list of active campaigns available on the site. The grant of the permanent license to crowdfunding intermediaries and funding portals is part of the SEC’s efforts to promote crowdfunding as a safe and sustainable investment option for Filipino investors and to provide more fundraising options for the country’s SMEs. Lending-based and equity-based crowdfunding activities involve the offer of securities in the form of debentures or shares, subjecting them to securities regulation in many jurisdictions.

in a corporate job will become tiring at times but if you have short-term and long-term goals in place, both of you will be motivated to prepare for the future. Knowing the investment platforms available in the market will help you and your spouse in setting aside a portion of your income consistently. Each couple’s journey is unique. We cannot compare it with others, this is the reason why we should also appreciate the blessings that we have. Start small, enjoy every moment. After all it is more fun to build your dreams with someone. You may not achieve all your goals in an instance, but still be grateful with small things. If you and your spouse are faithful with small, there will be greater opportunities to be entrusted. Know your “why,” this will help your family in becoming motivated despite of the hurdles that may come along. Prioritize also your time together more than your financial goals. This will help both of you to be in one page in your lifelong journey. Karlo Biglang-Awa is a registered financial planner of RFP Philippines. E-mail: info@rfp.ph or text at 0917-6248110.

PhilGuarantee doubles net income in 2021 to ₧1.37B TATE-run Philippine Guarantee Corp. (PhilGuarantee) more than doubled its net income to P1.37 billion in 2021, two years following the merger of agencies performing loan guarantee functions into one firm as ordered by President Duterte. Four years ago, Duterte issued Executive Order 58 approving the merger of the Home Guaranty Corp. (HGC) with the Philippine Export-Import Credit Agency (PhilExim). The order also transferred the guarantee functions, programs and funds of the Small Business Corp. and the administration of the Agricultural Guarantee Fund Pool (AGFP ) and the Industrial Guarantee and Loan Fund to PhilExim. PhilExim was renamed the Philippine Guarantee Corp. PhilGuarantee President and CEO Alberto E. Pascual reported that their

Bank lending growth hits 8.5% in Jan

Managing finances for young couples

AST month, we celebrated Valentine’s Day with most of us eating outside, buying stuff like chocolates and flowers to surprise our love ones. But to most of us, it has been a challenging day because we went over budget just to impress the one that we are pursuing or maybe our spouse? Having conversations about how you should manage your finances together is vital for things to work better. Sharing some finance principles that we can apply with our spouse, or love ones. 1. Start early. Most couples don’t want to talk about money in their relationship. It’s a taboo because our partner might misinterpret us that we are too concerned about finances. Early on, we can open up this to our special someone because it will help both of you to have team work in achieving our life or financial goals. Just be open, talk about your income, expenses and even aspirations. 2. Seek help. There are instances when you will encounter financial challenges because of life circumstances, do not be afraid to reach out to a trusted family member or friend who can help

Editor: Dennis D. Estopace • Tuesday, March 1, 2022

net income jumped from P487 million in 2020 as cost-to-income outcomes ended up lower at P850 million in 2021 from P1.16 billion in 2020. Pascual said the corporation’s income from loan guarantees also dipped by 2 percent year-on-year to P1.59 billion in 2021 from P1.62 billion in 2020. However, he said non-guarantee income earned from investments and other income also more than doubled to P2.32 billion in 2021 from P839.6 million a year ago. Its income before taxes, after deducting provisions for losses and operating expenses, also rose to P1.85 billion from P716.6 million in 2020. In terms of its comprehensive income, PhilGuarantee posted P1.13 billion last year, also double the figure a year ago of P537 million. Outstanding guarantee portfolio of the agency as of end-2021 also rose by

44 percent to P182.9 billion from P130.8 billion in 2015, a year before the Duterte administration took office. As the principal agency for state guarantee finance of the country, PhilGuarantee is mandated to make available the provision of credit guarantees to priority areas such as the housing, micro, small and medium enterprises (MSMEs) and agriculture sectors, as well as other industries considered as government priorities. Philguarantee’s income is sourced from the following: guarantee fees from loans for MSMEs and the agricultural sector; guarantee premiums from housing loans; and, application, service and commitment fees. In the second year of the COVID-19 pandemic, PhilGuarantee said it has assisted a total of 202,269 MSMEs, housing borrowers and agri-based workers (farmers

and fishermen). This is 6.5 percent more compared to 2020. PhilGuarantee also saw a 6-percent year-on-year growth in its assets in 2021 to P60.88 billion from P57.41 billion while its liabilities declined by 9 percent from P37.83 billion in 2020 to P34.32 billion in 2021. In the same period, the firm’s total equity stood at P26.56 billion last year, surging by 36 percent from P19.57 billion in 2020. For this year, Pascual said it is eyeing to raise an additional P7.33 billion from its ongoing disposal of big-ticket assets located in Manila, Quezon and Mandaluyong. It is also projecting to grow its portfolio this year as it remains committed to supporting the MSMEs, housing borrowers, agri-based workers and other priority sectors. Bernadette D. Nicolas

loans posted growth since December 2020. Outstanding loans to nonresidents also rose by 2.8 percent in January from 2.5 percent in the previous month. In another statement, the BSP said domestic liquidity grew by 9.8 percent to about P15.3 trillion in January 2022 following a 7.3-percent expansion in December. “The BSP will continue to ensure appropriate policy support for the economic recovery, even as it looks to the eventual normalization of its extraordinary liquidity measures when conditions warrant,” the central bank said.

LandBank adds UCPB network on March 1, sees assets at ₧2.9T

TATE-run Land Bank of the Philippines Inc. (LandBank) announced last Monday that its merger with United Coconut Planters Bank (UCPB) is set to take effect on March 1. LandBank said that with the merger, both banks’ customers will start having access to a combined network of 677 branches and branch-lite units, 2,800 automated teller machines (ATMs) and 228 cash deposit machines (CDMs) nationwide. “LandBank ’s union with UCPB advances the government’s development agenda to support the agriculture sector through a stronger, more resilient and unified banking institution,” LandBank President and CEO Cecilia C. Borromeo said. “The merger places us in a better position to reach and service more farmers, fishers and other players in the agribusiness value chain nationwide.” In December 2021, stockholders of UCPB approved the merger, effectively advancing the ongoing process between the two government banks. As the surviving entity, LandBank’s total assets will increase to P2.9 trillion, further solidifying its ranking as the second-

largest bank in the country in terms of assets. LandBank also assured the customers of both banks that the services will continue to be unhampered, with deposits remaining intact and secured in their respective servicing branches. “All UCPB branches will continue to operate and serve UCPB customers until the systems integration and accounts migration to LandBank are completed. The majority of UCPB branches will be converted as LandBank branches and will be announced regularly to the public,” the bank said. Despite the merger, existing service fees will still apply for cash withdrawals of UCPB cardholders at LandBank ATMs until all accounts are converted or migrated to Landbank that comes with new ATM cards. The merger between LandBank and UCPB is pursuant to Executive Order 142 signed by President Rodrigo Duterte on June 25, 2021, which approved the merger to form a better capitalized and more resilient institution that will play a principal role in the National Government’s development and financial inclusion agenda.

Tuesday, March 1, 2022 • Editor: Gerard S. Ramos

Art

BusinessMirror

www.businessmirror.com.ph

Today’s Horoscope

❷

PASAY-BASED gallery Galleria Duemila’s recent online discussion on art in a postpandemic future, featuring speakers Bambina Jacinto Aseron, art consultant (from left), and Trek Valdizno, visual artist. Galleria Duemila assistant art director Natalie Cruz served as moderator, while guest curator Sandra Palomar delivered the opening and closing remarks.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Justin Bieber, 28; Kesha, 35; Lupita Nyong’o, 39; Ron Howard, 68. HAPPY BIRTHDAY: Sit on all information you receive until you verify what’s coming down the pipeline. Speaking too quickly will lead to conflicts and errors. Listen carefully, follow the dots, and focus on performance, presentation and building a strong base. Refuse to let anyone pressure you into anything; time is on your side, so use it to your benefit. Your numbers are 4, 10, 18, 25, 33, 44, 47.

ARIES (March 21-April 19): Have patience; if you act quickly, mistakes will happen. Keep your plans a secret until you can confidently present what you have to offer. Don’t expect to win over someone who prefers to run the show. HHHH

TAURUS (April 20-May 20): A clear head is required when dealing with others. Be a good listener, and you’ll come across information that can help you make positive suggestions and a difference. An act of kindness will give others a bird’s-eye view regarding what you can do. HH

GEMINI (May 21-June 20): Concentrate on what’s important to you, and refuse to let anyone lure you off course. An adamant approach to the way you use your skills and knowledge will deter interference and encourage you to do the best job possible. HHHHH

‘As long as there are walls…’: Discussing the post-pandemic future of art practice, management

CANCER (June 21-July 22): Stick to what you know and do best. Look on the bright side and use your skills uniquely, and you’ll come out on top. A partnership will be a learning experience that leads to growth and long-term happiness. Romance is favored. HHH

STRONG sense of hope and optimism prevailed in a recent online forum that tackled the post-pandemic future of art practice and art management. The talk, titled Art Practice and Managing the Arts for a Post-Pandemic Future” was mounted by Galleria Duemila over the weekend and gathered experienced speakers from the respective fields. One was Bambina Jacinto Aseron, artist-entrepreneur and art consultant at Tarzeer Pictures, and the other, Trek Valdizno, visual artist and exhibitor. “As long as there are walls and as long as people

need someone who knows about art, to reach out to all these artists, and have some kind of eye to help choose and prepare in terms of design.” This was the answer of Aseron when asked about the future and relevance of art management. She also noted the sustained strong demand for artistic skills in the job market, whether in a post for an art gallery, or any other business that requires art direction in its bid to establish an online presence. “With more people having access to information on the Internet, the appreciation for art and design is just going to keep growing,” said Aseron, who holds a BS degree in Entrepreneurial Management from the University of Asia and the Pacific, and has studied classical painting and drawing at the Kline Academy in Los Angeles, California. Aseron also works for a local auction house, where she has collaborated with Valdizno for commission works. She first learned of Valdizno’s art in the 2015 Art Fair Philippines, for the latter’s moving abstract piece, titled The Chariot. The work encapsulates the signature scale and vibrancy of the seasoned abstractionist. Valdizno studied at the College of Fine Arts, University of the Philippines in Diliman, and

has widely exhibited in museums and galleries. For his part, Valdizno said all the time spent inside his home in Bulacan the past few years has helped his practice. “I think the pandemic has made me a better artist, a better person,” he said. “I practice my painting more often than before. I can paint now every day. Before the pandemic, I only paint when I had that feeling, that urge. Today, I paint even without the urgency.” The talk coincides with Valdizno’s ongoing fourth solo exhibition at Galleria Duemila, titled Beguiling Temptation. The exhibit runs until March 15, and is curated by guest curator Sandra Palomar. A visual artist and art consultant, Palomar was also part of the online discussion, which was moderated by Galleria Duemila assistant art director Natalie Cruz. “We can see that everyone is surrounded by art, and that there is this sheer possibility of making something out of nothing while we stay home 24/7,” Palomar said in her closing remarks. “And thanks to these serendipitous connections between the arts’ agents, we can all be hopeful for a future beyond this crisis.” n

Nippon Paint Asia Young Designers Summit lauds student-artists YOUNG creators were recognized with major and special awards at the recently concluded 2021 Nippon Paint Asia Young Designer Awards (NPAYDA) Philippines. Themed “Forward: Amplifying Empathy Through Design,” NPAYDA was launched in 2008 as the Philippine edition of the leading and prestigious Asia Young Designer Awards (AYDA) with the common goal to motivate interior design and architecture students to be more innovative, creative and socially involved in design implementation. Moira Kayla Ramiro and Nuri Hong, De La Salle-College of Saint Benilde (DLS-CSB) interior design students, clinched the Gold and Silver Awards, respectively. Dubbed as Marahuyo Design Camp, Ramiro’s winning project proposed a refreshing and enlightening restorative environment that aimed to nurture creativity and inspire, revive and support artistry. The design likewise earned the People’s Choice Award. This victorious piece was made under the guidance of Benilde Interior Design instructor IDr. Candice

Arboleda, who was recognized as Best Mentor. Hong’s Namnama Community Hub was envisioned as a space to cultivate discovery, learning and community livelihood. For the locals of Baler, it resembled a treasure house that instilled and promoted their arts, culture, history, tradition and resources. Meanwhile, Mary Margareth Calvo, fellow Benilde Interior Design student, bagged Best Color Choice, while Krizzie Marie Pacaro from the University of San Carlos took home the Best Green Innovation Award. Benildeans Joey Mae Perez, Aliya Josianne Raymundo, Angelica Jane Reyes and Winona Te likewise made it as top contenders for the Interior Design division. DLS-CSB was hailed as the Best School/University for Interior Design, while University of Santo Tomas was named as the Best Supporting College/University. For the Architecture category, Karen Joy Robines from the University of Mindanao secured the Gold Award for her

sustainable and reimagined Tagum City Garden. Her adviser Architect Matias Baring bagged the Best Mentor title. Bulacan State University’s Darwin Aquino finished with a Silver for his regenerative aquaponic facility conceptualized to support the livelihood of the farming communities. NPAYDA likewise recognized John Gabriel Espiritu, Benilde Architecture student, with the Best Green Innovation Award. Fitzgerald Eyas of the Ateneo de Davao University and Juan Paulo Aguilar of the Technological Institute of the Philippines won the Best Color Choice and the People’s Choice, respectively. University of Mindanao earned the Best College/University Award for Architecture, while Bulacan State University obtained the Best Supporting College/University Award. The Gold awardees will represent the Philippines in the regional leg of the competition, where they will compete for the prestigious title of Asia Young Designer of the Year with fellow creators from other AYDA countries.

LEO (July 23-Aug. 22): Don’t let an outsider mess with your plans. Stick close to those who have your back, and you will outmaneuver anyone who gets in your way. Be aware of others’ changes, but don’t feel obligated to follow suit. HHH

VIRGO (Aug. 23-Sept. 22): You have plenty to look forward to, so don’t waste time worrying about something you cannot change. Plant your feet firmly on the ground, and be the one to make a difference. Follow your heart, and something good will unfold. HHH

LIBRA (Sept. 23-Oct. 22): Mental stimulation will help you stay out of trouble. Avoid arguments. Embrace reading, learning and finding out the truth. Once you have evidence to substantiate your beliefs, you can move forward. Trust in facts, not hearsay. Focus on self-improvement. HHH

SCORPIO (Oct. 23-Nov. 21): Talk little and pursue action that encourages positive results. How you go about putting changes in play will make a difference to the outcome. Don’t guess when your success depends on accuracy, knowhow and skill. Romance is in the stars. HHHHH

SAGITTARIUS (Nov. 22-Dec. 21): Live and learn. Listen carefully, and refuse to let your emotions get in the way of a good decision. Don’t believe everything you hear. An exaggerated statement will lead to assumptions and a costly outcome. Know when to say no. HHHH

CAPRICORN (Dec. 22-Jan. 19): Reorganize how you handle money matters and how you approach work, titles and living conditions. A positive change will make a massive difference in how you feel and how you incorporate new beginnings. Romance is on the rise. HHH

AQUARIUS (Jan. 20-Feb. 18): Don’t feel you have to make a statement or change because of what someone decides to do; focus on what’s important to you and move along. Trust your instincts, not what others try to lead you to believe. HHHH

PISCES (Feb. 19-March 20): It’s OK to change your mind. When in doubt, don’t worry about taking a step back and assessing the situation. Draw on your resources and the people you trust, and you’ll find the path best suited to your needs. HHH BIRTHDAY BABY: You are curious, determined and visionary. You are dedicated and friendly.

‘organ trio’ BY AUGUST MILLER The Universal Crossword/Edited by David Steinberg

ACROSS 1 Channel with infomercials 4 Muscular jerk 9 Phobias 14 Cheer at un estadio 15 Cybertruck maker 16 Charge for a plug? 17 It could blow at any moment 19 Arc 20 Less wild 21 Spidey ___ (intuition) 23 British ref. 24 “Be right there” 26 Shell stations? 28 Notes promising payment 30 Helpful 31 Karaoke need 34 Attractive fellows 38 Bend by a barre 40 People of northern Canada 41 ___ from memory 42 Citrusy breakfast drink orders, informally 45 Org. known for redaction 46 Refill

47 Logs, e.g., for a wood stove 49 Onesie protectors 52 Legislation that inspired a “party” in Boston 56 Squeak (by) 57 Prove false 59 Inside Out studio 60 Alabama site of a historic 1965 march 62 Exactly right, or where you might find 17-, 34- or 42-Across’s first part? 64 Readies for planting 65 ___ sax 66 Diarist Anais 67 What may be driven on a camping trip? 68 Graceful birds 69 Landscaper’s roll DOWN 1 Get cracking on 2 The Daily Show correspondent Dulce 3 Post-makeover self 4 Sound systems 5 The “p” in 31-Down

6 7 8 9 10 11 12 13 18 22 25 27 29 31 32 33 35 36 37 39 43 44

Doesn’t assume It usually falls in winter ___ Carta Confrontation www.umass.___ Of Nigerian and Filipino descent, say 61-Down and William Barber II, for two Some grow into flowers Bangladeshi living abroad, e.g. Do some preliminary recon on Sweetums Muscular Works on a tan, say No. that’s typically lower in cities “Good enough for me!” Affectionate Italian greeting Indigo Girls, for one Annoy Jellyfish’s habitat, perhaps 2019 award for the US Women’s Soccer Team Where some underwater craft are sheltered, briefly “Yipes!”

48 49 50 51 53 54 55 58 61 63

Gently placed (down) One-ups Rorschach test marks Bone-muscle binder Slender parts of neurons Calculator watch brand Buck the ___ Italian stratovolcano 60-Across march monogram Sweetums

Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

EDGAR ALLAN GUZMAN

• Tuesday, March 1, 2022

CARMINA VILLARROEL

GMA RAISES BAR WITH FIRST SUSPENSE SOAP ‘WIDOWS’ WEB’

LEE JUNG-JAE as he is announced the winner for the award for outstanding performance by a male actor in a drama series for Squid Game at the 28th annual Screen Actors Guild Awards.

TROY KOTSUR accepts the award for outstanding performance by a male actor in a supporting role for CODA at the 28th annual Screen Actors Guild Awards.

‘Ted Lasso,’ ‘Squid Game,’ Troy Kotsur win at SAG Awards

By Jake Coyle The Associated Press

HE cast of Ted Lasso, the leads of Squid Game and Troy Kotsur of CODA have won at the 28th Screen Actors Guild Awards. The ceremony, held at Barker Hangar in Santa Monica, California, and broadcast on both TNT and TBS, saw history made in a number of categories. Kotsur, best supporting actor in a film, is the first deaf actor to ever win an individual SAG award. And for the first time, actors in a non-English language series—the Korean phenomenon Squid Game—took home awards. Lee Jung-jae won best male actor in a drama series and Jung Ho-yeon won best female actor in a drama series. Kotsur, a veteran 53-year-old actor who gave a breakthrough performance in Sian Heder’s film, had already been the first deaf actor nominated individually for a SAG award. When his name was read, Kotsur plunged his head into his hands. Onstage, he praised CODA as the rare film to portray a deaf family authentically. But he concluded comically. “Thank you for my wife for reminding me to check my fly before walking the red carpet,” said Kotsur. The Squid Game wins for Lee and Jung came over big names like Succession stars Brian Cox and Jeremy Strong, and Reese Witherspoon and Jennifer Aniston

of The Morning Show. “I have sat many a times watching you on the big screen dreaming of one day becoming an actor,” Jung told the crowd, fighting back tears. The SAG Awards are considered one of the most reliable predictors of the Academy Awards—actors make up the largest percentage of the Academy of Motion Pictures Arts and Sciences. Kotsur’s win suggested he may have emerged as the Oscar favorite over the competition, notably Kodi Smit-McPhee of The Power of the Dog. Meanwhile, Ariana DeBose of West Side Story confirmed her frontrunner status with a win Sunday for best supporting performance by a female actor. “It’s taken me a long time to feel comfortable calling myself an actor,” said DeBose. “My roots come from the dance world and the Broadway stage, and the Anita that we see onscreen took every bit of me but she took 10 years to make.” The SAG Awards, which will be available to stream Monday on HBO Max, are presented by the Hollywood actors guild SAG-AFTRA. After the January Golden Globes were a non-event, the Screen Actors Guild Awards were Hollywood’s first major, televised, in-person award show—complete with a red carpet and teary-eyed speeches—this year. The Hamilton trio of Lin-Manuel Miranda, Leslie Odom Jr. and Daveed Diggs kicked off the broadcast with the declared theme of “together again.”

“We’ve returned to a world where all we have to do to hang out like this is get dressed up, show up, get swabbed, sanitized, screened, masked, vaccinated, boosted, rapid-tested and PCR-cleared within 24 hours,” said Odom Jr. “Now who’s ready to party?” Some casts, citing quarantine regulations related to production schedules, appeared remotely— including the lead television nominee, Ted Lasso. Appearing by video link with his castmates around him, Jason Sudeikis accepted the award for best actor in a comedy series. The Apple TV+ show was later named best comedy series ensemble. While the Academy Awards aren’t mandating vaccination for presenters (just attendees), it was required for the SAG Awards, which are voted on by the Hollywood actors’ guild SAG-AFTRA. One actor in the cast of the Paramount series Yellowstone, Forrie J. Smith, has said he wouldn’t attend because he isn’t vaccinated. Jean Smart, star of Hacks, won for best actress in a comedy series. “I love actors,” said Smart. “Nobody gets us.” A pair of blockbusters on both the big and small screen took stunt ensemble awards announced before the show: Netflix’s Squid Game and the James Bond film No Time to Die. Kate Winslet presented the actors’ lifetime achievement award to Mirren, a five-time SAG Award winner. n

BEGINNING February 28, GMA brings a compelling and gripping family drama that will keep every viewer at the edge of their seats via the first suspense-filled soap Widows’ Web. Filled with intense and heart-pounding scenes, the primetime series is headlined by Carmina Villarroel, Vaness Del Moral, Ashley Ortega and Pauline Mendoza—playing Barbara Sagrado-Dee, Hillary Suarez, Jackie Antonio Sagrado and Elaine Innocencio, respectively. “How could I say no to this project? Ito ang unang suspenserye ng GMA. When this was offered to me, wala pa akong alam kung sino ’yung ibang cast, pinabasa lang sa akin ’yung synopsis and I said yes to do it right away without knowing lahat,” shares Carmina. “The story itself captured my attention kasi gusto ko ’yung ganon, na every time I do something new, gusto ko ’yung mai-excite ako.” Says Vaness of her role, Hillary: “Feeling ko naa-adapt ko na ’yung aura ni Hillary sa totoong buhay. Parang nabubuhay si Hillary lalo dahil sa mga tao sa paligid ko. Hindi ko kaya ito as Vaness del Moral lang. Maraming salamat sa lahat nang nagtatrabaho sa likod ng camera.” Joining them is a powerhouse cast composed of Adrian Alandy, Edgar Allan Guzman, Christian Vasquez, Arthur Solinap, Bernard Palanca, Allan Paule, Tanya Gomez, Mosang, Dave Bornea, Neil Coleta, Mike Agassi and Karenina Haniel. The series also features the special participation of Ryan Eigenmann as Alexander Sagrado III, the murder victim who is the patriarch of the Sagrado family. Widows’ Web also introduces two of the network’s rising artists, Vanessa Peña and Anjay Anson. Who killed Alexander Sagrado III? Will the murderer get away with it? How will the lives of Barbara, Hillary, Jackie and Elaine intertwine in a web of love, hatred, and revenge? Esteemed director Jerry Lopez Sineneng helms this intense drama series together with associate director Philip Lazaro. Jerry Sineneng is proud of his first project with GMA and expresses his gratitude to the network for entrusting him this series, “This is one of the best scripts I have ever directed. Gustong-gusto ko talaga itong materyal na ’to. This is really one of the best written shows I have ever directed and I am so happy and proud talaga. Lahat sila sa cast, mahuhusay. I’d like to thank GMA for giving me this cast kasi sobrang sarap katrabaho, sobrang gaan at sobrang gagaling. Makikita niyo naman po pag napanuod niyo na ’yung show, ang galinggaling nila.” Under the supervision of the GMA Entertainment Group headed by SVP for Entertainment Group Lilybeth G. Rasonable, Widows’ Web spins weeknights beginning February 28, after First Lady on GMA’s prime-time block. Viewers abroad can also catch the program via GMA Pinoy TV. More information can be found at www.gmanetwork.com.

Elevating Filipino talent to a higher level FROM left: Joaquin Valdes, Soliman Cruz and Max Eigenmann

WE are deeply proud of our artists who continue to raise our flag overseas in the advancement of their careers. Year after year, we learn about Filipino artists landing substantial roles in international productions, getting recognized, winning plums and elevating Philippine artistry to a higher level. One of them is veteran actor Soliman Cruz, who quietly flew to far away Romania last year to shoot the movie To The North, directed by Mihai Mincan, who also wrote the screenplay. The narrative, inspired by a true-to-life event in 1996 involving a Filipino sailor aboard a Taiwanese container vessel, is about a religious Filipino seaman assigned on a transatlantic ship whose life crossed paths with a young Romanian stowaway. Cruz plays one of the two main protagonists in this debut feature film of the director. “I was in Bucharest for many weeks, and I also visited other Romanian cities,“ he shared, adding, “There were many times that I felt homesick because it was so chilly and cold. I am glad there is Facebook to help me cope. Seriously, never in my dreams did I think that I’d be able to do a film in Europe at my age!” Cruz added that he would try to be funny and come up with comic antics to warm up before getting into character during filming. He said it also helped that there were also two Filipino actors in the cast. “Bart Guingona and Noel Santo Domingo also got good parts, and the shoot went smoothly. Tingin ko naman, bumilib sila sa mga Pinoy!”

MEMORABLE LEAD ROLE ASIA Pacific Screen Awards best actress Max Eigenmann is also back from an almost two month stay in the United Kingdom for the movie Raging Grace, under the helm of filmmaker Paris Zarcilla. “I flew to the UK at the end of autumn and it was already the onslaught of winter when we finished shooting. It was one of the most amazing experiences I have had in my career as an actor, and something that I will hold dear in my heart for a very long time,” she enthused. “It is my very first lead role in an international movie, my first foray into a foreign film production, and I simply feel so grateful that the universe allowed this to happen to me, given that it was also during these uncertain time of a worldwide pandemic.” Eigenmann plays an undocumented Filipino immigrant who took on a job as a caretaker of a terminally ill old man (played by Scottish actor David Hayman), so she can give a better life to her daughter, just to unravel a mystery that will threaten to destroy her dreams and everything she has

worked so hard for. “Warming up to an entirely foreign way of making movies and to people I’d meet for the very first time in my life was initially nerve-wracking, but it turned out to be a walk in the park because the people I had the chance to work with in this film were just so pleasant and professional that it made the work a lot easier for me, who was the outsider coming in. Everyone made me feel so at home and I just clicked with the cast and crew of this production. I am indeed very happy with the new friendships I forged in the UK.” She added, “The experience definitely recharged me as an actor, and I am so ready to take on more acting jobs now that I am back in Manila.” FIRST HOMEGROWN FILIPINO SIMBA ANOTHER Filipino who is making us proud is musical theater artist Joaquin Valdes who has just played Simba in Disney’s The Lion King, currently on tour in the United Kingdom and Ireland. We first met Valdes in 2010 when he directed his first feature Dagim, one of the entries for that year’s CinemaOne

Originals Independent Movie Festival. After a few years, Valdes focused on theater and since he has a powerful singing voice, he also appeared in worthwhile musical theater productions. Valdes, a hardcore fitness enthusiast when he was still based in Manila, effortlessly stole some scenes in Matilda, gave a splendid performance in Vanya and Sonia and Masha and Spike, and impressed us in The Last Five Years. In 2018, Valdes passed the auditions to be the understudy of Thuy in the UK touring company of Miss Saigon, a move which opened a lot more doors for him on stage. “I am just so happy to be able to play Simba and sing ‘I Just Can’t Wait to be King’ on the big stage. I’ve loved The Lion King from the first time I saw the film, and this opportunity is a dream that continues to unravel every time I am onstage.” And just like the circle of life, Joaquin Valdes, Soliman Cruz, and Max Eigenmann have proven that hard work can take one to the top and dreams can come true when we pursue these with passion.

B6 Tuesday, March 1, 2022

Erehwon honors Jose Conrado “Joly” Benitez

MPIF partners with Neo Zigma and IGEM for the 1st Philippine Cycling Festival

ETRO Pacific Investments Foundation Inc. (MPIF), the corporate social responsibility arm of leading infrastructure conglomerate Metro Pacific Investments Corporation (MPIC), strengthens its Puhunang Pangkabuhayan program for alternative livelihood through a beneficiary partnership with the organizers of the 1st Philippine Cycling Festival. In partnership with Neo Zigma Cycle Corporation and Interval Gear Events Management (IGEM), MPIF will receive part of the proceeds for its Puhunang Pangkabuhayan program. 20 percent of the generated cash sponsorship, registration fees, and ticket fees for the expo will go towards purchasing bikes to be donated to beneficiaries selected by MPIF. The Foundation continue its support for out-of-work individuals and income-generating people’s organizations by providing tools for sustainable alternative livelihood. “Our programs to aid our countrymen amid our current situation have transcended from humanitarian missions to prioritize recovery, rehabilitation, and resurgence,” says MPIF President Melody del Rosario. “Through our Puhunang Pangkabuhayan program, we aim to invest in small businesses and kickstart local economies – a feat that we will continue to achieve through this partnership with IGEM and Neo Zigma.”

PURPOSE Powered by Cycling. MPIF, Neo Zigma Cycling Corporation, and Interval Gear Events Management signify the partnership for the 1st Philippine Cycling Festival, benefiting MPIF’s Puhunang Pangkabuhayan program for alternative livelihood. (From left, top row) IGEM Managing Director Christian David Alacar, MPIF President Melody del Rosario, and Neo Zigma Marketing Head Josephine Santos. As of June last year, Puhunang Pangkabuhayan has been able to provide over 110 alternative livelihood tools such as bicycles, sewing and edging machines, pocket Wi-Fi units, and load retailer kits to areas in Batangas, Oriental Mindoro, Surigao del Norte, and Pangasinan.

Purpose Powered by Cycling The 1st Philippine Adventure Expo to 2022 at the Clark event is intended

Cycling Festival and be held on June 3-5, Parade Grounds. The to promote cycling

through race events, cycling education talks, merchandising exhibit, with kid-friendly and family-friendly activities. The Expo aims to gather the biggest local and international brands relevant to the sport, with the end goal of raising funds to donate bicycles to several communities in the country. With MPIF’s existing programs aligned with environment protection, reduction of carbon footprint, and alternative livelihood generation, Neo Zigma and IGEM selected the Foundation to be the sole beneficiary of the event.

Hotel Sogo goes on aggressive expansion amid the pandemic

REHWON Center for the Arts began its welcome for its second decade of operations by honoring those who have played significant roles in the Center’s history. Its first Foundation chairman, the late Jose Conrado “Joly” Benitez will be perpetually remembered for his key accomplishments through a steel marker at the Center’s lobby. The steel marker was unveiled by his former colleagues at the Ministry of Human Settlements, Mr. Jose P. Cabazor and Ms. Neny Regino. Benitez served as deputy minister of the Ministry of Human Settlements during the Marcos Administration. He was known as the architect of the government’s housing agencies such as the Human Settlements Development Corporation, Home Guaranty Corporation, BLISS Development Corporation and PAG-IBIG. He was a recipient of the TOYM award and served as president of the Philippine Women’s University. Benitez was also a visual artist. His first and, at the same time, his last public art exhibit marked Erehwon’s very first public event nine years ago, in February 2013. Erehwon Center for the Arts, located at Old Balara, Quezon City, is creative

community center dedicated to providing a nurturing environment for artists from visual arts, performing arts, music, publications, and film. It houses an art gallery, atelier, dance and music rehearsal studio, an artist-in-residence facility, workshop and office spaces, and outdoor theater performance space.

Discover Greenwich‘s new seafood offerings

GREENWICH unveils its seafood discoveries with its new Cajun Shrimp Overload Pizza and Creamy Shrimp Spaghetti.

ISCOVER the star of the SEAson! Greenwich is introducing two new savory seafood offerings to its menu starting February 25 (in Luzon) and March 1 (in Visayas and Mindanao), but for a limited time only! Featuring its Cajun Shrimp Overload Pizza and Creamy Shrimp Spaghetti, Greenwich is putting its own spin on its pizza and pasta favorites with fresh seafood flavors. “Greenwich aims to continuously elevate the experience of every Filipino barkada and famkada, by introducing exciting offerings that respond to their meticulous cravings. We know that they will enjoy our new ultimate seafood discoveries that is shrimply overloaded in deliciousness and perfect for every bonding moment,” said Pam Reyes,

Greenwich’s head of marketing. One cannot go wrong with the Cajun Shrimp Overload Pizza which has an interestingly unique flavor. Its crust is topped with flavorful cajun sauce and is loaded with a generous sprinkle of seasoned shrimps, mushrooms, green bell peppers, sauteed onions, and three types of cheese. A 9-inch double-size pizza is priced at P319 only, whenever a pizza craving calls or when just spending quality time together. Then there’s the Creamy Shrimp Spaghetti that you shouldn’t miss out on. The medley of pasta and the creamy aligue-flavored sauce with shrimps and mushrooms give off a fresh yet familiar taste. It is topped with grated parmesan cheese and fresh parsley to further accentuate the hearty flavors. A solo serving of this mouthwatering dish is priced at P109 only, while a shareable pan good for 3, best enjoyed with one’s family or friends, is priced at P240 only. These non-meat, seafood-based offerings are every seafood lover’s dream, giving you feelings of comfort in every bite! Greenwich’s newest pizza and pasta flavors will be available in www.greenwichdelivery. com, via #5-55-55 hotline, Greenwich Barkada Messenger, GrabFood, Foodpanda, take-out, or for dine in in any of our stores found here: https://stores.jfc.com.ph/greenwich.html.

Legazpi City holds Oz Goose sailfest 2022

OTEL Sogo has come a long way with the opening of three more branches this year. This brings the hotel's entire network to 45 branches and more in the pipeline. The hotel continues to live by its mission, since its first branch in 1993, of providing accessible and affordable accommodation of excellent standards. “Despite the recent challenging years, Hotel Sogo opened new branches namely, Timog 2, Fairview, and EDSA-Taft, all within 2021”, shared by Sue Geminiano, Marketing Manager. “Our better and bigger ewly- constructed Hotel Sogo Malate has re-opened as well which is just one of the many exciting developments happening here at Hotel Sogo,” she added.

Milestones During the Pandemic THE hotel has proven its dedication to service and cleanliness throughout the years. At the onset of the pandemic in March 2020, its own Research and Development (R&D) team acted quickly and developed ways to keep the hotel safer for its guests through its own 11 So Safe Innovations. These innovations introduced by Hotel Sogo, alongside the minimum health standards mandated by the government, raised the hotel industry's standard of cleanliness and sanitation. Among the well-known safety innovations set by Hotel Sogo include the use of UVC LED lights for disinfection of rooms, bathroom fixtures, utensils, room

keycards, and cash. Air ventilation has also been doubled in hotel lobbies and hallways for filtered and sanitized air. Anti-microbial coatings are also applied in common touchpoints, furniture, and hotel fixtures. Regular tests on high touchpoint surfaces are also done to secure the efficacy of each safety innovation. Aside from putting the safety and cleanliness of the hotel as top priority, Hotel Sogo became the refuge of frontliners during the 2020 lockdown. Hotel Sogo provided over P80 million worth of free accommodations to frontline medical workers of 11 hospitals from various key cities in the country in collaborative efforts with the local government offices and hospitals. As part of its response program through its Corporate Social Responsibility Sogo Cares, Hotel Sogo donated thousands of linens, towels, and sacks of rice, canned goods, bottled water, noodles, coffee, and other necessities to the affected areas of the recent Typhoon Odette. In a showcase of genuine “Bayanihan”, these items were immediately distributed to Cebu, Southern Leyte, Bohol, Surigao, Siargao Island, Limasawa Island, and Palawan with the cooperation of DSWD, Philippine Air Force and other local government units. Sogo Cares has been helping the community since 2016. Initially, it started in 1998 as a group of concerned individuals sought help from Hotel Sogo to donate linens, pillowcases, and bath towels to the

indigent-affected individuals after a strong tropical depression hit the country. Since then, Hotel Sogo's CSR program has continuously extended its humanitarian services to the community – aptly named “Sogo Cares” with the slogan “We Bridge Gaps to Build Better Communities”.

On to the Future

HOTEL Sogo has achieved yet another milestone growth with this recent expansion in the Metro. As the largest hotel chain in the Philippines, Hotel Sogo is making its presence felt in more areas to address the lodging needs of guests on safety and price. Hotel Sogo is now moving its expansion direction towards South Luzon where tourism development is on a roll. The hotel's aggressive growth also translates to more employment opportunities for Filipinos. As Ms. Geminiano proudly added, We are excited to see more of our branches in areas outside Metro Manila. Expansion efforts have been beefed up for all our plans to materialize as scheduled this 2022 and the years ahead. “Meanwhile, our patrons and guests will be happier with our 3 new branches which offer new modern room designs, a wider menu of dishes and the usual Hotel Sogo high standard of cleanliness and services that we all love,” she said. For more of Hotel Sogo's events and promotions, visit www.hotelsogo.com or like/follow their Facebook, Twitter, and Instagram page @hotelsogo

HE City of Legazpi, home to the iconic Mayon Volcano, hosted the inaugural staging of the Exciting Bicol Oz Goose National Championships on Feb. 26-27. A first in the region, the event is organized by the Albay Yacht Club (AYC) and the Philippine Home Boatbuilders Yacht Club (PHBYC), and supported by the Department of Tourism Region 5 and the City Government of Legazpi. The Oz Goose is a 12-foot long windpowered sailboat with a 14-foot mast, and crewed by two persons. Set at the Albay Gulf across Legazpi Boulevard, the two-day sailfest launches Bicol as the archipelago’s newest sailing haven. Over 30 Oz Goose sailboats from Subic, Batangas, Manila and Albay Competed for top honors and fun sailing. “Bicol has been gaining in popularity with the country’s water sports enthusiasts, from wakeboarders, surfers, paddlers, scuba divers and now, sailors. Its natural beauty is its

main appeal, the people’s warm hospitality in embracing watersports compound its overall charm,” says DOT regional director Herbie Aguas. He said that potential sailing spots will be explored in the nearby provinces to make it a community sport and help breed a new generation of watersports athletes. “The Oz Goose sailboat sails is an ideal platform to teach people the essential skills involved in sailing, from weather awareness to basic physics. Racing sailboats is the best way to improve one’s sailing skills,” says PHBYC executive director and event organizer Roy Espiritu. He noted that this boat type is cheap and easy to assemble, and has a huge potential to bring recreational sailing to various parts of the archipelago. Introduced in the Philippines in 2015, there are about 100 Oz Goose boats in the country at its base at the Taal Lake Yacht Club (TLYC) in Talisay town, the AYC in Legazpi, and various boat clubs.

World Features BusinessMirror

www.businessmirror.com.ph • Editor: Angel R. Calso

Germany’s move to help arm Ukraine signals historic shift By Emily Schultheis

The Associated Press

IENNA—Germany’s stunning decision to send antitank weapons and surface-to-air missiles to Ukraine— abandoning its long-held refusal to export weapons to conflict zones—is nothing less than a historic break with its post-World War II foreign policy. “A new reality,” Chancellor Olaf Scholz called it in an uncharacteristically rousing speech Sunday to a special session of parliament. The typically low-key Chancellor Scholz said Russia’s invasion of Ukraine required a dramatically different response from Germany than in the past. “With his invasion of Ukraine on Thursday, President Putin created a new reality,” Scholz told the Bundestag, his speech repeatedly greeted by applause, particularly his condemnations of the Russian leader. “This reality demands a clear answer. We’ve given one.” Scholz said Germany is sending anti-tank weapons and surface-to-air missiles to Ukraine. He also said the country is committing 100 billion euros ($113 billion) to a special fund for its armed forces and will raise its defense spending above 2 percent of GDP, a measure on which it had long lagged. Germany’s about-face served as a potent example of just how fundamentally Russia’s war in Ukraine is reshaping Europe’s post-World War II security policy. Germany’s foreign policy has long been characterized by a strong aversion to the use of military force, an approach German politicians explain as rooted in its history of military aggression against its neighbors during the 20th century. While a strong US ally and Nato member, post-war Germany has attempted to maintain good ties with Moscow, a policy also driven by business interests and Germany’s energy needs. “Many of the things that Olaf Scholz said would have been unthinkable even months ago,” said Marcel Dirsus, a nonresident fellow at the University of Kiel’s Institute for Security Policy. “It’s become very clear that Russia has simply gone too far, and as a result, Germany is now waking up.” Still, until this weekend, the German government had balked at sending weapons to Ukraine, even as it faced growing international criticism for its hesitation. But then, a series of announcements starting Saturday evening rocked traditional notions of German policy. It began with word from the government that it would allow the shipment of 400 German-made anti-tank weapons from the Netherlands to Ukraine, something it had thus far refused to do. Shortly afterwards, the chancellor’s office went further and said it would send its own weapons, including 1,000 anti-tank weapons and 500 “Stinger” surface-to-air missiles, directly to Ukraine. It also committed to targeted bans on Russian banks from the SWIFT global financial system, which German leaders had expressed reluctance to do. On Sunday, the breaks with the past continued, with Scholz committing to greater defense spending. The developments were all the more notable considering they followed another historic decision last week, when Germany took steps to halt the process of certifying the Nord Stream 2 gas pipeline from Russia. Germany’s reluctance to send German-made weapons to Ukraine had earned the country criticism from Nato allies in recent weeks. Although Germany is one of the world’s top weapons exporters—it exported arms worth 9.35 billion euros in 2021—it has long had a policy of not sending lethal weapons to conflict zones. Until Saturday, German leaders had refused to send anything other than 5,000 helmets to aid Ukraine. Scholz’s Sunday announcement about defense spending will, at least for the time being, put to rest the oft-repeated criticism that Germany is not adequately contributing to its own and Nato’s defense. The country was a favorite target of former US President Donald Trump for its failure to spend 2 percent of its GDP on defense, a target for Nato members. According to Nato figures, Berlin spent around 1.53 percent of GDP in 2021, or almost $65 billion. Its budget has grown annually for several years. In balking at new spending, Berlin always insisted that Germany was investing enough to fulfill any Nato military requirements. Officials also noted that by spending that kind of money, Berlin’s defense budget would surpass that of Russia, and possibly make its own European neighbors nervous. Nato countries slashed their military budgets in the 1990s after the Cold War, but they were spurred back into action when Russia annexed Ukraine’s Crimean Peninsula in 2014. That year, the allies pledged to halt the cuts and move toward spending 2 percent of GDP by 2024. German officials backed up their policy U-turn by calling it a necessary adjustment to a new normal. “We cannot leave Ukraine defenseless against the aggressor who is bringing death and devastation to this country,” Annalena Baerbock, Germany’s foreign minister, said Sunday. “If our world is different, then our politics must be different as well.” The decisions were met with praise by many of the Ukrainian leaders and European allies that had been most critical of Germany in recent weeks. “Keep it up, Chancellor @OlafScholz!” Ukrainian President Volodymyr Zelenskyy tweeted Saturday night after the news of weapons shipments. “Anti-war coalition in action!” (Lorne Cook contributed from Brussels. Geir Moulson contributed from Berlin).

Tuesday, March 1, 2022

On cusp of Biden’s State of the Union, a state of disunity, funk and peril in US By Calvin Woodward & Zeke Miller

The Associated Press

ASHINGTON—In good times or bad, American presidents come to Congress with a diagnosis that hardly differs over the decades. In their State of the Union speeches, they declare “the state of our union is strong” or words very much like it.

President Joe Biden’s fellow Americans, though, have other ideas about the state they’re in and little hope his State of the Union address Tuesday night can turn anything around. America’s strength is being sharply tested from within—and now from afar—as fate, overnight, made Biden a wartime president in someone else’s conflict, leading the West’s response to a Russian invasion of Ukraine that makes all the other problems worse. The state of the union is disunity and division. It’s a state of exhaustion from the pandemic. It’s about feeling gouged at the grocery store and gas pump. It’s so low that some Americans, including prominent ones, are exalting Russian President Vladimir Putin in his attack on a democracy. Measures of happiness have hit a bottom, with fewer Americans saying they are very happy in the 2021 General Social Survey than ever before in five decades of asking them. This is what a grand funk looks like. Biden will step up to the House speaker’s rostrum to address a nation in conflict with itself. The country is litigating how to keep kids safe and what to teach them, weary over orders to wear masks, bruised over an ignominious end to one war, in Afghanistan, and suddenly plenty worried about Russian expansionism. A speech designed to discuss the commonwealth will be delivered to a nation that is having increasing difficulty finding much of anything in common. Even now, a large segment of the country still clings to the lie that the last election was stolen.

That ‘M’ word

Four decades ago, President Jimmy Carter confronted a national “crisis of confidence” in a speech describing a national malaise without using that word. But Vice President Kamala Harris did when she told an interviewer last month “there is a level of malaise” in this country. Today’s national psyche is one of fatigue and frustration—syn-

onyms for the malaise of the 1970s. But the divides run deeper and solutions may be more elusive than the energy crisis, inflation and sense of drift of that time. Take today’s climate of discourse. It’s “so cold,” said Rachel Hoopes, a charity executive in Des Moines, Iowa, who voted for Biden. “It’s hard to see how him talking to us can break through when so many people can’t talk to each other.” It’s as if Americans need group therapy more than a set-piece speech to Congress. “We have to feel good about ourselves before we can move forward,” historian Doris Kearns Goodwin told Stephen Colbert on “The Late Show.” Yet in the immediate aftermath of Russia’s attack last week, a long-absent reflex kicked back in as members of Congress projected unity behind the president, at least for the moment, in the confrontation with Moscow. “We’re all together at this point,” Senate Minority Leader Mitch McConnell, R-Ky., said, “and we need to be together about what should be done.” Politics didn’t stop at the water’s edge but it paused. Though not at Mar-a-Lago’s ocean edge in Florida, where Donald Trump praised Putin’s “savvy,” “genius” move against the country that entangled the defeated American president in his first impeachment trial.

Pick your poison

White House officials acknowledge that the mood of the country is “sour,” but say they are also encouraged by data showing people’s lives are better off than a year ago. They say the national psyche is a “trailing indicator” and will improve with time. Biden, in his speech, will highlight the improvements from a year ago—particularly on Covid and the economy—but also acknowledge that the job is not yet done, in recognition of the fact that many Americans don’t believe it. A year into Biden’s presidency, polling indeed finds that he faces a critical and pessimistic public. Only 29 percent of Americans

think the nation is on the right track, according to the February poll from The Associated PressNORC Center for Public Affairs Research. In December’s AP-NORC poll, most said economic conditions are poor and inflation has hit them on food and gas. After two years of a pandemic that has killed more than 920,000 in the US, majorities put masks back on and avoided travel and crowds in January in the sweep of the omicron variant. Now, finally, a sustained drop in infections appears to be underway. Most Americans are vaccinated against Covid-19, but debates over masks and mandates have torn apart communities and families. With Biden so hemmed in by hardened politics, it’s difficult to imagine a single speech altering the public’s perception, said Julia Helm, 52, a Republican county auditor from the suburbs west of Des Moines. “He’s got a lot of stuff on his plate,” she said. “You know what could change how people feel? And pretty fast? What they pay at the pump. I hate to say it. But gas prices really are the barometer.” Biden suggested last summer that high inflation was a temporary inconvenience. But it’s snowballed in recent months into a defining challenge of his presidency, alongside, now, the threat of geopolitical instability from Russia’s attack on its neighbor. Consumer prices over the past 12 months jumped 7.5 percent, the highest since 1982, as many pay raises were swallowed up and dreams of home ownership or even a used car became prohibitively expensive. Inflation was a side effect of an economy running hot after the economically devastating first chapters of the pandemic, when Biden achieved the kind of growth that Presidents Barack Obama and Trump could not deliver. The prime engine for both the gains and the inflation appears to be Biden’s $1.9 trillion coronavirus relief package, which pushed down the unemployment rate to a healthy 4 percent while boosting economic growth to 5.7 percent last year—the best performance since 1984.

Sinking polls

Still, voters have largely overlooked those gains as inflation bit. The February AP-NORC poll found that more people disapproved than approved of how Biden is handling his job as president, 55 percent to 44 percent. That was a reversal from early in his presidency. As recently as July, about 60 percent said they approved of Biden in AP-NORC polls. After four years of Trump’s provocations from the W hite House, Hoopes, 38, the Des Moines charity executive, finds Biden to

be a “nonthreatening” leader, a “decent person, someone it seems you could talk to.” “He seems to be a quiet decisionmaker,” she said. “But I don’t know if that’s good or bad for him or the country right now.” The most she could say about Biden’s State of the Union speech is that “it can’t hurt.” That’s about the most that historians say about it, too.

The speech

If State of the Union addresses are remembered at all, it’s generally because feathers were ruffled on a night of tradition and forced comity: Obama admonishing the Supreme Court justices seated in front of him for their ruling on campaign finance laws in 2010; Justice Samuel Alito mouthing “not true” in response, House Speaker Nancy Pelosi, D-Calif., ripping up Trump’s speech in disgust in 2020. In 2009, Rep. Joe Wilson, RS.C., was reprimanded by fellow Republicans and lacerated by Democrats for shouting “you lie” at Obama when he spoke to Congress about his health care plan. “Inaugural addresses sometimes do have an impact because they are big picture, far horizon speeches,” said political scientist Cal Jillson of Southern Methodist University. “State of the Unions rarely do because they tend to be listy rather than thematic.” Among presidents of the last half century, Ronald Reagan, Bill Clinton, George W. Bush, Obama and Trump repeatedly declared “the state of our union is strong” while Bush’s father took a pass and Gerald Ford confessed: “I must say to you that the state of the union is not good.” Trump being Trump and Clinton being Clinton, both additionally claimed that the state of the union had never been stronger than on the nights they said it. Whatever diagnostic phrase Biden chooses, his task is to promote an agenda and plausibly claim credit for positive developments over the last year “without a ‘mission accomplished ’ moment,” Jillson said. “That’s delicate. It’s delicate to claim credit for the economic recovery...and still acknowledge people’s pains and fears.” Biden comes to Congress with some missions actually accomplished, like his historic infrastructure package, as well big dreams deferred. He still wants to “Build Back Better.” In the funk of these times, Americans just seem to want someone to wake them up when it’s all over. The Associated Press writers Josh Boak, Emily Swanson and Hannah Fingerhut in Washington and Thomas Beaumont in Des Moines, Iowa, contributed to this report.

Europe, Canada close their airspace to Russian planes By DAVID KOENIG AP Airlines Writer

urope and Canada said Sunday they would close their airspace to Russian airlines after Russia’s invasion of Ukraine, raising the pressure on the United States to do the same. European Commission President Ursula von der Leyen said the European Union would shut down its airspace for planes owned, registered or controlled by Russians, “including the private jets of oligarchs.” Canada’s transport minister, Omar Alghabra, said his nation was closing its airspace to all Russian planes to hold the country accountable for an unprovoked attack on its neighbor. The European Union action came after many of its member countries had said they were barring Russian planes or planned to

do so by Sunday night. Belgian Prime Minister Alexander De Croo tweeted that European skies are “open for those who connect people, not for those who seek to brutally aggress.” “There is no room in Dutch airspace for a regime that applies unnecessary and brutal violence,” Mark Harbers, the Netherlands’ minister of infrastructure and waterworks, said on Twitter. A handful of European nations including Spain, Greece and Turkey had resisted closing their airspace before von der Leyen’s announcement. Robert Mann, an aviation consultant in New York, said the moves by the European Union and Canada would put added pressure on the US to also bar Russian flights. “It is difficult to understand why we are last to move, both operationally and financially,” he said.

As more airlines canceled flights in and out of Russia, and more countries blocked Russian airlines, the US embassy in Moscow said Americans there “should consider departing Russia immediately via commercial options still available.” Russia has responded to western aviation sanctions by banning flights from several European countries. Russian airline S7 suspended flights to Europe. On Sunday afternoon US time, a Moscow-New York flight by Russian national carrier Aeroflot turned back after passing over Norway, according to flight-tracking services. The plane had been routed to fly over Canada. Other Aeroflot flights took circuitous routes after European countries began closing their airspace. Growing tension between Russia and western nations over Russia’s invasion of

Ukraine have so far had a modest impact on airlines, which are trying to recover from huge losses since the start of the Covid-19 pandemic. They face jet-fuel prices that have climbed more than 50% since last summer, and are likely to rise further because of sanctions against Russian oil and natural gas. Airlines in the US and Europe are expecting to pack planes with transatlantic vacationers this summer. Helane Becker, an airline analyst for Cowen, said Friday that she continued to expect strong travel demand from the US to western Europe, but travel to eastern Europe “will be curtailed until there is some resolution or some assurance it won’t spread to other countries.” The Associated Press writer Lorne Cook in Brussels contributed to this report.

Sports

UKRAINE’S Vladyslav Heraskevych holds a sign that reads “No War in Ukraine” after finishing a run at the men’s skeleton competition at the 2022 Winter Olympics in Beijing recently. AP

BusinessMirror

| Tuesday, March 1, 2022 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

PALOU

Palou: Short but exciting PVL Open unfurls March 16

ESPITE a compressed schedule, the Premier Volleyball League (PVL) is guaranteeing an exciting, action-packed Open Conference which unwraps March 16 at the Paco Arena Events and Sports Center in Manila. From the original three-month schedule to mark the league’s second season as a professional league, the Open will now be a four-week tournament with all nine teams geared up for a grueling battle of power, cohesion and style. The tournament will have a pool play setup—a first for the league— to make way for the training of the national team gearing up for various international competitions, including the 31st Southeast Asian Games in Vietnam in May. “We have to shorten the tournament and we made it to two pools to accommodate the national team which will train in Brazil as part of its buildup for the SEAG,” PVL President Ricky Palou, also head of the organizing Sports Vision, told a television interview over the weekend. “But this will be very interesting as most teams strengthened their respective rosters during the off-season.” “Looking at the player movement, it will be a very competitive, exciting conference,” he added. Chery Tiggo, which topped the PVL’s debut as a pro league at the expense of Creamline in a bubble setup last year, sets out for its title defense on a team built around sisters Jaja Santiago and Dindin Santiago-Manabat with former University of Santo Tomas stalwart EJ Laure boosting the squad’s frontline threat. Creamline has also kept its starstudded roster intact with Alyssa Valdez, Jia Morado and Jema Galanza eager to reclaim their crown, and the likes of Petro Gazz, Choco Mucho, Philippine Army, PLDT Home Fibr, BaliPure and Cignal HD all shoring up their respective rosters for a crack at the crown.

By Josef Ramos

WIGHT RAMOS and Thirdy Ravena are expected for the long haul in the men’s national basketball team, according to Gilas Pilipinas Coach Chot Reyes. Reyes praised the two players for their exemplary performance in the national team’s two games in the second window of the International Basketball Federation (Fiba) 2023 World Cup Qualifiers that ended on Monday at the Smart Araneta Coliseum. “Not only with their statistics or points but in all aspects—leadership, work ethic, energy they bring to

UKRAINE ATHLETES READY TO FIGHT

ARLIER this month, Ukrainian skeleton rider Vladyslav Heraskevych flashed a sign at the Olympics: “No war in Ukraine.” On Sunday, he was hunkered down about 150 kilometers outside of his nation’s capital with weapons nearby in case he needs to defend his country. “I am a student,” the 23-yearold said in a phone interview with The Associated Press. “I am not experienced in these type of things. But I am ready to stand strong and help in any way I can.” With Russian troops encircling the capital of Kyiv, Heraskevych was among a rapidly growing list of athletes from Ukraine and about two dozen other countries who sent an open letter to Olympic and Paralympic leaders, urging them to immediately suspend the Russian and Belarusian Olympic and Paralympic Committees. “Russia’s invasion of Ukraine, supported by Belarus, is a clear breach of the Olympic and Paralympic Charters—a breach that must be met with strong sanctions,” said the letter addressed to International Olympic Committee (IOC) President Thomas Bach and his counterpart on the International Paralympic Committee (IPC), Andrew Parsons. Among those putting their

names on the letter were four-time Olympian Paula Radcliffe of Britain, six-time Olympian Clara Hughes of Canada, two-time Paralympian Greta Neimanas and Beckie Scott, the Canadian Olympic champion who served a long term as head of the World Anti-Doping Agency’s athlete commission. There were 34 Ukrainian athletes’ names listed on the letter, many signing on behalf of their entire sports federations. The letter said more Ukrainians would have signed but “it has been a challenge to speak with all athletes from Ukraine as they are seeking safety in bomb shelters.” “If the IOC and IPC refuse to take swift action, you are clearly emboldening both Russia and Belarus violation of international law and your own Charters,” the letter read. The advocacy group Global Athlete helped coordinate the letter, which also was signed by sliders from the US, Latvia and the Netherlands, members of the Russian fencing team, an independent athletes’ group from Germany and the Belarus Sport Solidarity Athletes Federation. The IOC has condemned Russia’s invasion of Ukraine, saying it violated the Olympic Truce. It has called on international federations to cancel or move events planned in Russia and Belarus and to stop using the countries’ flags and national anthems.

Neither the IOC nor the IPC have taken direct action against the countries themselves, however. The Paralympics start next Friday. Neither federation immediately responded to AP requests for comment on the letter. Among those signing the letter was Ukrainian freestyle skier Oleksandr Abramenko, whose embrace with a Russian athlete in Beijing was caught on camera and captured headlines. Heraskevych’s “no war” banner did, too. After that gesture on February 11, the IOC came out quickly and said Heraskevych would not face any sanctions for violating the Olympic rule that limits political protests on the field of play at the Games. “This was a general call for peace,” the IOC said in a statement. “For the IOC the matter is closed.” Heraskevych told the AP he left China in mid-February with a guarded sense of optimism; at the time, Russia was amassing troops along Ukraine’s border but had not invaded. His hopes were quickly dashed. He spoke to the AP from Zhytomyr, about a two-hour drive from Kyiv. He was preparing to defend Ukraine’s capital if called on. “It’s quiet now,” Heraskevych said. “But there is no safe place in Ukraine right now.” AP

TEAM PHL GEARS UP FOR SEAG

HE Philippine Olympic Committee (POC) has so far summed 656 athletes who will do battle in the 31st Southeast Asian Games that are due in under two and a half months in Vietnam. POC President Rep. Abraham “Bambol” Tolentino said that majority of the 39 national sports associations which are fielding athletes to Vietnam have submitted tentative rosters for the May 12 to 25 Games. The Philippines is competing in 39 of the 40 sports programmed by Vietnam for its only second hosting of the Games since 2003. In these 39 sports, the country is participating in 44 disciplines, according to Tolentino. “Comparing the numbers when we hosted the Games in 2019, we’ll have a delegation that’s slashed almost in half from three years ago,” Tolentino said. “And a quick look at the numbers show we’ll be hard-pressed to repeat as overall champions.” There were 1,115 Filipino athletes in 2019—an automatic privilege that host countries have—and they won 149 gold, 117 silver and 121 bronze medals for a guaranteed overall title. “But we’ll have a fighting team in Vietnam, setting aside the difficulties of training and competing or training overseas because of the Covid-19 pandemic,” Tolentino said. Of the 44 disciplines, the POC has yet to receive a tentative list for athletics, men’s 3x3 and 5x5 basketball, weightlifting and jiujitsu. The deadline for the submission of entries by names is on March 12 and Tolentino said the POC

NorthPort rookie Malonzo named week’s top player

UST when Northport’s boat was about to sink in the middle of a storm made even worse by a crippled crew, an unlikely hero in rookie ace Jamie Malonzo came to the rescue. The high-flying freshman rose from the deck and steered the Batang Pier out of the hole with a superb performance in their two big wins the past week that stretched the team’s winning streak following a flat 0-5 start. Malonzo’s efforts were more than enough for him to be named the Cignal Play-Philippine Basketball Association Press Corps Player of the Week for the period February 23 to 27 when he registered all-around numbers of 16.0 points on 14-of-29 clip, 10.5 rebounds, 2.0 assists, a steal and a block.

Ramos, Ravena in for long haul–Coach Chot practices and games,” said Reyes of his two players who are playing in different teams in the Japan B.League— San-En NeoPhoenix for Ravena and Toyama Grouses for Ramos. The two were Gilas’s top players in an 86-64 rout of India last Friday and in a 63-88 loss to New Zealand on Sunday. The 6-foot-3 Ravena averaged 19 points, three rebounds and 3.5 assists while the 6-foot-4 Ramos had similarly impressive numbers of 17.5 points, seven rebounds and 2.5 assists in the qualifiers. Reyes, however, said the duo could have better against world No. 27 New Zealand.

Plethora of sports diplomacy ALMOST a month ago, Dr. Lindsay Krasnoff was a guest on my program “Sports For All.” Dr. Krasnoff, according to en.unesco.org, is “a communications professional and historian with expertise in storytelling, global sport, and sports diplomacy. Proven track record thinking outsidethe-box, analyzing information, identifying key issues, creating strategy, executing interdisciplinary projects, and relaying on multi-platform knowledge to diverse

“Obviously after every game especially after a loss, we always feel we could have done a little bit better and it’s the preparation which is certainly very, very crucial like Sunday [vs Kiwis],” Reyes said. “We still have a lot of things to work on. But I couldn’t ask for anything more from our players.” Reyes admitted that he’s not familiar with Ramos, Ravena and naturalized player Ange Kouame, but said “everything will surely be developed as time goes by.” “The players are not familiar with each other and this is also my first time to coach Ange, Thirdy, Dwight

audiences, from CEOs and ambassadors to athletes and beyond. Author of The Making of Les Bleus: Sport in France, 1958-2010 and Views From the Embassy.” Dr. Krasnoff has appeared on CNN International, Sports Illustrated and The New York Times, and other major TV networks and online platforms. What is sports diplomacy? According to journals.sagepub. com, “Sports diplomacy is when sport is used as a political tool for enhancement, but which sometimes, worsens diplomatic relations between two countries.” Lindsay says that sports diplomacy has been used for nefarious means and also to stimulate economic activity through sports tourism. In my humble opinion, sports diplomacy’s evolution started in 1971’s “ping pong diplomacy” between China and the United States when 19-year-old US table tennis player Glenn Cowan rode a shuttle bus carrying Chinese table tennis players. History.com says, “During the 1971 World Table Tennis Championships in Nagoya, Japan, 19-yearold US player Glenn Cowan hopped on a shuttle bus carrying the red-shirted Chinese national team. Most of the Chinese eyed the shaggy-haired American

is hopeful to complete the list— including expected revisions from NSAs which already complied with the body’s February 24 internal deadline—by then. “Several NSAs were allowed to submit tentative lists because they’re still completing their final qualifications or trials,” he said. The estimated size of the delegation is pegged at 874. Also on the tentative list are 177 team officials (coaches, team managers and/or NSA heads or representatives) and 20 members of the medical (doctors, nurses and masseurs/ therapists) and administrative staff. Competition venues for Filipino athletes are spread out in four clusters although majority will be in the main hub of Hanoi, Tolentino said. The POC based the clusters on their proximity to Hanoi. Filipino athletes will be competing in diving, swimming, finswimming, archery, athletics, badminton, 3x3 and 5x5 basketball, billiards and snooker, bodybuilding, bowling, boxing, canoe-kayak, chess, cycling, dancesports, esports, fencing, football, golf, gymnastics (artistic, aerobic and rhythmic), beach handball, judo, jiujitsu, karate, kickboxing, kurash, muaythai, pencak silat, rowing, sepak takraw, shooting, table tennis, taekwondo, tennis, triathlon/duathlon, volleyball, beach volleyball, vovinam, weightlifting, wrestling and wushu. The Philippines is not participating in Vietnam’s 40th sport of xiangqi (Chinese or elephant chess).

and several players of the team,” he said. “So I think we’ll get better as time goes by. There’s a lot of bright spots to build on.” Reyes also hinted that an all-professional team will be sent to the 31st Southeast Asian Games in Hanoi in May. “First of all, we have to meet with the PBA [Philippine Basketball Association] to synchronize calendars,” he said. “But we’re looking at the SEA Games and I don’t think we’ll have any of the collegiate players because the UAAP [University Athletic Association of the Philippines] will end on May 12 the earliest or May 19 at the latest.” with suspicion, but Zhuang Zedong, the team’s greatest player, stepped forward to shake Cowan’s hand and speak to him through an interpreter. He even presented the teenager with a gift: a silk-screen picture of China’s Huangshan mountains. Cowan, a self-described hippie, returned the gesture the following day by giving Zhuang a t-shirt emblazoned with a peace symbol and the Beatles’ lyrics “Let It Be.” Photographers caught the incident on film, and the unexpected goodwill between the US and Chinese teams soon became the talk of the tournament.” A lot has happened between the two superpowers since 1971, both good and bad. Fast forward to the 2022 Winter Olympics, the US spearheads a diplomatic boycott, BBC.com, “The US, UK and Canada declared a diplomatic boycott, along with India, Australia, Lithuania, Kosovo, Belgium, Denmark and Estonia. They have all sent athletes, but no ministers or officials are attending. The US said this was because of China’s ‘human-rights abuses and atrocities in Xinjiang’— ”against the province’s Muslim population.” The Wall Street Journal web site says, “The difference between a boycott and a diplomatic boycott comes down

He beat NorthPort teammate Arwind Santos and Ginebra’s Scottie Thompson in a close race for the weekly citation handed out by the group of reporters covering the beat. The 6-foot-7 winger, picked No. 2 overall by the Batang Pier in the last draft, started his rousing week by tallying 19 points, five rebounds, three assists, two steals and two blocks as Northport pulled off a huge 103-101 upset of league-leading Magnolia, handing the Hotshots their first and only defeat so far in the season-ending conference. Malonzo hit clutch baskets down the stretch while complementing import Jamel Artis and Santos for a NorthPort side that misses the services of injured Kevin Ferrer, Jonathan Grey and Art Dela Cruz, as well as top gun Robert Bolick because of his Gilas Pilipinas duty. The product of De La Salle then sustained his showing when he came through with a double-double of 13 points and 16 rebounds in the Batang Pier’s 101-93 victory over Phoenix Super LPG. And he did everything even though he’s nursing a finger injury (right pinkie). The Batang Pier have won their last three games for a 3-5 record, while staying in contention for a playoffs berth.

NORTHPORT’S Jamie Malonzo in action against Phoenix Super LPG’s Jansen Rios. to this: American athletes are going to the Winter Olympic Games, they are representing the US, and they are participating fully—including in the opening ceremony. But the US isn’t sending leaders such as the Vice President.” Dr. Krasnoff opined that the diplomatic boycott is “unfortunate.” The Muslim population BBC.com was referring to are the Uyghurs, a Muslim minority in Xinjiang province whose human rights have reportedly been repeatedly violated by the Chinese government. Sports diplomacy is also when countries host major sports events like the Olympics and the World Cup. Host countries are given an opportunity to showcase to visiting nations what they’re about in terms of tourist attractions, their values, their advocacies, culture, technological advancements, and their people’s hospitality. To segue a bit, we wonder how Dr. Krasnoff was able to compact all 52 years of French sports and French sports diplomacy into one book? Obviously, a column piece is not enough to expound on the gamut that is sports diplomacy, but before we end, let me leave you with a bit of a gray area on the subject: Was Dennis Rodman’s visit to North Korea and his friend, North Korea strongman Kim Jong-Un sports diplomacy?