TBy Reine Juvierre Alberto @reine_alberto
HE national government could fall short of a budget surplus by the end of the year despite recording an P88-billion surplus in January 2024.
Finance Secretary Ralph G. Recto said he is not expecting a budget surplus by the end of the year.
“For me, for as long as we hit our targets, our revenue targets, and our expenditure targets, I don’t expect a surplus by the end of the year,” Recto told reporters on the sidelines of the World Economic Forum (WEF) Country Roundtable press briefing on Tuesday.
Data from the Bureau of the Treasury (BTr) showed the government posted a budget surplus of P88 billion in January this year, over 92.25 percent higher than the same month last year, as revenue collections outpaced government spending during the period.
( See:https://businessmirror.com. ph/2024/03/15/ng-posts-p88-b-budget-surplus-in-january-as-revenuecollection-outpaces-spending/) Recto added that there is also a surplus in February, but the Treasury has not released any data yet.
“So far, the revenue seems to be good. I hope that holds all the way up to the end of the year,” the Finance chief said.
Out of cautiousness, though, he is also not expecting a sustainable surplus throughout the whole year.
“For as long as we hit our targets, I’m happy with that,” he added.
According to Recto, government revenues rose by 20 percent yearon-year (YoY) while spending is also up by 10 percent YoY, indicating a surplus, as of March 19.
“So far we’re hitting the numbers, surpassing the targets, and we hope that continues,” Recto added.
To improve tax collection, Recto said the Department of Finance (DOF) is assisting the Bureaus of Internal Revenue and Customs in
analyzing all their data and providing them with data as well on where to concentrate to collect the taxes and to whom they should be collecting the taxes from.
WEF President Borge Brende said that the WEF delegates are “very bullish” on the Philippine economy as long as reforms are continued. (https://businessmirror. com.ph/2024/03/20/with-reformsphl-can-be-2-teconomy-in-next-decade-wef/) “I think that this could be, in the coming decade, a $2-trillion economy,” Brende said at the press briefing.
On the sidelines of the launch of the Digital Financial Inclusion Awards on Wednesday, BSP Governor Eli M. Remolona Jr. said inflation in March may have
FILIPINOS remain among the happiest people in Southeast Asia, only coming in second to Singaporeans who enjoy higher incomes, according to the results of Gallup’s latest Global Happiness Index (GHI).
Based on the latest report, the Philippines ranked 53rd out of 143 countries. This was 23 notches higher than its 73rd out of 137 countries ranking in 2023. The data from the report also showed that the country’s index score was higher at 6.048 in 2024 compared to 5.523 posted
in 2023. “On a 10-point scale, Finland’s average life evaluation ranks it as the happiest country in the world. Afghanistan ranks as the least happy country in the world with a life evaluation of 1.721,” Gallup said.
In Southeast Asia, Singapore was considered the happiest country. It ranked 30th out of 143 countries with a score of 6.523 in the GHI. The Gallup World Poll, which remains the principal source of data in this report, asks respon-
LACKLUSTER trade performance and the repayment of the national government’s foreign loans placed the country’s balance of payments (BOP) position in negative territory for the second straight month, according to the Bangko Sentral ng Pilipinas (BSP).
In a statement, BSP said the BOP deficit in February brought the current year-to-date BOP level to a $936-million deficit—a reversal from the $2.2-billion surplus recorded in JanuaryFebruary 2023.
Based on the preliminary data from the Philippine Statistics Authority’s (PSA) International Merchandise Trade Statistics (IMTS), the trade deficit for
January 2024 reached $4.2 billion, down from the $5.6-billion deficit posted in January 2023.
“Based on preliminary data, this cumulative BOP deficit reflected mainly the continued trade in goods deficit coupled with the NG’s net repayments of its foreign loans,” the BSP said.
In February, BSP said the country’s BOP position posted a deficit of $196 million lower than the $895-million BOP deficit recorded in February 2023.
The BOP position reflects a decrease in the final gross international reserves (GIR) level to $102 billion as of end-February 2024 from $103.3 billion as of
been around 3.9 percent. The BSP’s inflation target is 2 to 4 percent for 2024. Inflation in February increased to 3.4 percent from 2.8 percent in January. Inflation was at 7.6 percent in March 2023. “It will be close to 4 [percent]. It could be 3.9 [percent], you know. But we’ll see,” Remolona said, partly in Filipino. If the March inflation rate reaches 3.9 percent, this will mark the fourth month that the inflation rate was within the BSP’s 2 to www.businessmirror.com.ph Thursday, March 21, 2024 Vol. 19 No. 158 P. nationwide | sections pages | 7 DAYS A WEEK BSP: INFLATION COULD HAVE HIT 3.9% IN MAR PESO EXCHANGE RATES US 55.7780 JAPAN 0.3699 UK 70.9663 HK 7.1299 SINGAPORE 41.5664 AUSTRALIA 36.4286 SAUDI ARABIA 14.8733 EU 60.6084 KOREA 0.0417 CHINA 7.7474 Source BSP (March 20, 2024) BusinessMirror A broader look at today’s business ROTARY CLUB OF MANILA JOURNALISM AWARDS 2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion EJAP JOURNALISM AWARDS BUSINESS NEWS SOURCE OF THE YEAR (2017, 2018, 2019, 2020) DEPARTMENT OF SCIENCE AND TECHNOLOGY 2018 BANTOG MEDIA AWARDS FILIPINOS 2ND HAPPIEST PEOPLE IN ASEAN–GALLUP See “BSP,” A SOMETHING TO ASPIRE FOR Buildings in Mandaluyong City stand tall, reflected along the Pasig River in this photo of March 20, 2024. According to the World Economic Forum (WEF), the Philippine economy could grow to as much as $2 trillion in the next decade should the country continue its reforms to attract investments. NONIE REYES NG not seen to post budget surplus by yearend US DEFENSE SECRETARY AUSTIN VOWS UNWAVERING SUPPORT FOR UKRAINE’S WAR EFFORT AGAINST RUSSIA THE WORLD »A17 See “NG,” A Tepid trade, NG loans put BOP in deficit for 2nd month Continued on A Continued on A By Cai U. Ordinario FILIPINOS may have experienced faster inflation in March, a rate closer to the higher end of the inflation target set by the monetary authorities, according to the Bangko Sentral ng Pilipinas (BSP).
TEPID TRADE, NG LOANS PUT BOP IN DEFICIT FOR 2ND MONTH
House OKs on 3rd reading RBH7 on Charter change
By Samuel P. Medenilla @sam_medenilla
CONGRESS has moved closer toward Charter change (Cha-cha) after the House of Representatives approved on third and final reading on Wednesday its proposed amendments to the economic provisions of the 1987 Constitution.
The amendments are contained in the Resolution of Both Houses (RBH) No. 7, which was passed by the Lower House with a vote of 288 in favor and eight against and two abstentions.
House Speaker Ferdinand Mar-
tin G. Romualdez lauded the development, which he called the “last piece in the puzzle of investment measures” of the Marcos administration.
He noted the restrictions continue to negate the effects of probusiness legislation such as the
Ease of Doing Business Act, Public Service Act, Retail Trade Liberalization Law and the Foreign Investment Act, when it comes to attracting investments in the country.
“These changes, if ratified by our people in a plebiscite, will greatly boost these measures, including our President’s investment missions abroad which have generated actual investments and pledges in the billions of dollars and created thousands of jobs,” Romualdez said. RBH No. 6 and RBH No. 7 are
both entitled, “A Resolution of Both Houses of Congress proposing amendments to certain economic provisions of the 1987 Constitution of the Republic of the Philippines, particularly on Articles Xll, XlV and XVl.”
Among the salient features of RBH 7 is it will allow Congress to pass laws to adjust the present foreign equity limitations. It proposed the addition of the qualifier “basic” to Paragraph 2, Section 4 of Article XIV, the provision on educational institutions presently required to be owned 60-40 by Filipino citizens or corporations. Also in the amendment is the addition of the phrase, “unless otherwise provided by law,” to the last sentence of Article XIV on control and administration of educational
institutions mandated to be vested in Filipino citizens under the Charter’s present wording. RBH No. 7 and RBH No. 6 likewise restate the provision of the Constitution that Congress may propose amendments “upon a vote of three-fourths of all its members.”
RBH 7 was passed after two weeks of “exhaustive plenary deliberations,” wherein House members questioned resource persons and experts, who opposed or supported chacha, and before the HOR and the Senate go on their Holy Week Break from March 23 to April 28. Romualdez urged the Senate to also pass its own version of the RBH 7 soon to pave way for the plebiscite needed for amending the Constitution.
FILIPINOS 2ND HAPPIEST PEOPLE IN ASEAN–GALLUP
dents to evaluate their current life as a whole using the image of a ladder, with the best possible life for them as a 10 and worst possible as a 0.
According to age
MEANWHILE, in 2024, Gallup said, it was able to generate enough data to disaggregate happiness according to age.
In the Philippines, the data showed older Filipinos or those 60 years old and up are happier compared to other countries while younger Pinoys or those aged below 30 years old are less happy compared to other countries.
With the responses of older Filipinos, the country ranked 43rd out of 143 countries and recorded a score of 5.976 in the GHI. Older Singaporeans continue to outrank Filipino seniors at 26th out of 143 countries with a score of 6.477 in the index.
Among the younger generation or those below 30 years old, Filipinos ranked 70th out of 143 countries with a score of 6.305 in the index.
However, the happiest youngsters in the Asean are the Thais who ranked 45th out of 143 countries with a score of 6.597 in the GHI. This was followed by Singaporeans who ranked 54th out of 143 countries with a score of 6.484 in the GHI.
“Some important parts of life are tied mainly to age, such as schooling, employment and health. Others depend more on what is going on in society and the world,” Gallup said.
“These society-wide factors range from violence, earthquakes and pandemics to how new technologies and changing natural and social environments interact with also-changing ways of seeing his-
tory, facing inequalities, and connecting with each other,” it added.
Day of happiness
MEANWHILE, tocelebrate the UN International Day of Happiness, business owners from diverse industries have come together to make a bold covenant: to pursue happiness collectively.
The move emphasized the importance of focusing on unique individual strengths to promote organizations that thrive.
“This agreement represents a beacon of hope and positivity in challenging times. It’s inspiring to see businesses coming together to prioritize happiness and wellbeing, not just profits,” Michael Pizarro, regional vice president of JCI Metro South region, said in a statement.
The covenant was signed by the 36 core members of the newlylaunched BNI Headway chapter, along with the presidents of 16 chapters of JCI Metro South region.
They discussed key principles and actions that the participating businesses will uphold, including committing to support each other’s organizations and promote the mental and emotional well-being of business owners and employees; as well as support local community initiatives and charitable causes aimed at promoting happiness and well-being for all. Cai U. Ordinario
Continued from A
Brende also said that the appetite for investing in the Philippines in increasing given the feedback from the participants.
The country is looking at op-
4 percent target.
Inflation first fell within BSP’s target in December 2023 at 3.9 percent, followed by January 2024 at 2.8 percent, and February 2024 at 3.4 percent.
“Yeah [we expect inflation to accelerate in March] because of positive base effects,” Remolona said.
This will be used to inform any decision that the Monetary Board will make in its next policy meeting slated for April 4. However, March inflation will be released by the Philippine Statistics Authority (PSA) on April 5.
Other factors include the decision of the United States Federal Reserve. However, Remolona stressed that the Monetary Board is keeping in lock-step with the Fed.
The BSP Governor merely said the decisions of the Fed provide the Monetary Board additional data to consider.
“We don’t have to wait for them. We don’t have to wait for them. We watch them very closely. And we read the statements. We read what the different members of the FOMC says, that’s data for us. It will affect our exchange rate,” Remolona said.
“But I think we don’t have to put a lot of weight on what they do. Unless the market goes crazy. Unless they overreact. And the peso somehow weakens sharply. Then we’ll have to react more decisively. But we don’t expect that. We don’t expect that,” he added. Meanwhile, Remolona said the BSP is bent on cutting the Reserve Requirement Ratio (RRR) not only as a monetary policy measure but financial intermediation efficiency.
Cutting the RRR, Remolona said, may not come in a policy meeting of the Monetary Board but may come in a regular MB meeting.
He said it may be difficult to cut the RRR during a policy rate meeting as it could cause market confusion.
“I think the markets are very smart. But even when they’re very smart, this can be a bit confusing,” Remolona said.
“We are already improving our models. So, I think the same data as before, roughly the same data as before. I think we will act with more confidence than before,” he responded to questions on whether the Monetary Board will cut, maintain, or raise rates in April.
In December 2023, amid upside risks to the inflation outlook, the Monetary Board of the BSP decided to maintain key policy rates during its last meeting for the year.
In a briefing, Remolona said the Monetary Board decided to keep the BSP’s Target Reverse Repurchase (RRP) Rate unchanged at 6.5 percent. With this, the interest rates on the overnight deposit and lending facilities will remain at 6 percent and 7 percent, respectively.
With the latest decision of the Monetary Board, the country’s key policy rates increased by a total of 100 basis points this year.
portunities for increased investments, specifically in the manufacturing and renewable energy sectors, according to Brende. The Roundtable is a joint effort between the Government of the Philippines and the WEF and is the first high-level roundtable to be convened in the Asia Pacific Region since the pandemic.
Thursday, March 21, 2024 A2 News BusinessMirror www.businessmirror.com.ph Continued from A Continued from A BSP... Continued from A
end-January 2024. “Notwithstanding the decline, the latest GIR level represents a more than adequate external liquidity buffer equivalent to 7.5 months’ worth of imports of goods and payments of services and primary income,” BSP said. BSP said this ensures the availability of foreign exchange to meet balance of payments financing needs, such as for payment of imports and debt service, in extreme conditions when there are no export earnings or foreign loans. The country’s BOP position is estimated to be six times the country’s short-term external debt based on original maturity and 3.6 times based on residual maturity. Short-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less, plus principal payments on medium- and long-term loans of the public and private sectors falling due within the next 12 months. Cai U. Ordinario
MARTIN G. ROMUALDEZ NG...
FERDINAND
ELI
M. REMOLONA JR.
TAbundant sprawling, open spaces and a variety of shopping and dining selections nearby make every day an experience to remember at Tulip Gardens
A
Thursday, March 21, 2024 A3 BusinessMirror www.businessmirror.com.ph HERE’S EVERYTHING YOU CAN ENJOY IN SOUTHWOODS CITY
For one, the air in the South is much cleaner and lighter since there’s lesser volume of vehicles in the area. Unlike in Metro Manila where traffic eats up a significant chunk of people’s time ever y day, moving from one location to the next in the South is a lot faster and more convenient, regardless of whether you commute, drive, or bike around town. Waking up to the quiet drops of rain, the scenic view of the cityscape, and the invigorating beauty of the countr yside make mornings in the South something to look for ward to. Since there’s more available open space, there’s more opportunity to enjoy nature with the abundance of green spaces, fresh air, and stunning natural views all around you If you ’ re one of those considering moving out of the city and into— quite literally—g reener pastures, there’s a sprawling address just outside of Metro Manila that brings you features only nature can offer together with the ease of ever yday urban living. A blooming address just an hour from the metro LESS than an hour away from Fort Bonifacio and the Makati Central Business District and strategically situated in the borders of Biñan, Laguna and Carmona, Cavite is the 561-hectare Southwoods City, a sustainable township development by property giant Megaworld subsidiary Global-Estates Resorts, Inc. (GERI). Southwoods City sits right next to the South Luzon Expressway (SLEX) and can be easily accessed via its own exits. This makes it easy for people to travel to and from Metro Manila for business or visit friends and family for a fun weekend drive to top leisure destinations in southern Luzon, like Tagaytay, the beaches in Batangas, or the mountains in Laguna. Continuing its rise as one of the latest developments in Southwoods City is the f ive-tower residential condominium development, Tulip Gardens. Tu l ip Ga rdens is conveniently located just a minute away from the charming Southwoods Mall, one of the three “Best In Asia” winners from the Philippines at the 2019 Asia Property Awards by PropertyGuru under the “Best Commercial Landscape Architectural Design” categor y. Surrounding Tulip Gardens are other key establishments as well, includ ing t he Sout hwoods
ice towers,
Niño
Parish Church, Colegio San Agustin, Un ihealt h Sout hwoods Hospital, as well as commercial centers and a transport hub. Also close by are t he 125- hecta re Jack Nicklau sdesigned Manila Southwoods Golf and Countr y Club, other residential condominiums, and a sprawling exclusive subdivision all developed
the GERI Group.
off
the Sto.
de Cebu
by
thriving garden community HOMEBUYERS at Tulip Gardens can choose from a variety of available unit types, such as studio, studio with lanai one-bedroom w ith balcony, and one-bedroom with lanai ranging in size from 23.5 square meters to 41.5 square meters. These spaces are ideal for young professionals wishing to invest their hard-earned money in a home near work, starting families wanting a space for their growing brood, and overseas Filipino workers (OFWs) planning to have a place in a less congested area upon their return home. For those working remotely, each unit has ready provision for a fast Internet connection to suit their needs. Future residents will get to bask in the freedom of movement in spaces beyond the confines of their respective units. Among the amenities they can enjoy include an adult pool, kiddie pool, pool deck and cabana, jogging area, and play area that can be used whenever one feels like going for a dip or a quick run. Indoors, there are male and female showers and toilets, a multi-pur pose hall, and a fitness gym. Tulip Gardens places high importance on its residents’ safety and security, too, as it will deploy 24-hour roving security and CCTV cameras around the entire property. W h at’s more, t he f irst g roup of residents of Tulip Gardens also enjoy access to a dedicated open park called “Sparke.” Occupying a 2,500-square-meter space just beside Southwoods Mall, Sparke features Instagram-worthy areas for socialization and relaxation, as well as a pet park where fur parents can train their cats and dogs and let them mingle with one another The park also features six giant tulips, a pair of rainbow arches made of acr ylic, and more than 14,000 tulip lights that illuminate at night. Const ru ct ion fo r t h e second towe r of Tu l i p Ga rdens i s c urrently in full swing. All residential towers are rising 22-stories high, giving future residents commanding views of the Manila Southwoods Golf and Countr y Club and the entire township. Find out more about your new home at Tulip Gardens in Southwoods City by visiting www.megaworldglobal-estatesouth.com and Megaworld Global-Estate, Inc. on Facebook. THE abundance of open spaces within and around Tulip Gardens will allow future residents to enjoy the best that Southwoods City has to offer. RESIDENTS of Tulip Gardens will have a variety of everyday conveniences within reach, including being less than a minute away from Southwoods Mall and the township's transport hub, and just five minutes away from the Manila Southwoods Golf and Country Club. THERE'S more than enough space to create your own cozy corner at your unit in Tulip Gardens. COOL down, take a plunge, and spend countless hours enjoying the outdoors by the pool area. By Rence David
in the
HERE’S just something charming about living
South these days.
PRC Chairman Gordon shares fond memories of FVR, a staunch supporter of PRC and Subic
PHILIPPINE Red Cross Chairman and Chief CEO Richard “Dick” J. Gordon on Wednesday remembered the late former Philippine President Fidel V. Ramos, a staunch supporter of the country’s premier humanitarian organization, on his birthday.
“He was a great supporter of the Philippine Red Cross, generously giving blood beyond his years. I once kidded him, saying, ‘Sir, your blood could practically be used for a museum,” shared Chairman Gordon.
Describing the late President, Chairman Gordon said “FVR was not only a great
president who loved the country but also a strong supporter of Subic Bay.”
“He inspired, instilled confidence, and believed in the young people and volunteers of Subic. He cared for the young and the poor, and championed them, saying that ‘Where Subic goes, the Philippines goes.’ His life was an exemplary dedication to duty, honor and country. Everyone must cherish and emulate the life of FVR,” he said. Chairman Gordon also recalled how he and FVR “accidentally” arranged a meeting with then Taiwanese statesman and former Republic of China President Lee Teng Hui and his protocol officer.
‘Balikatan’
war drill readies
mobilization
of 16K Filipino and American troops
By Rex Anthony Naval
ARANKING official from the Armed Forces of the Philippines (AFP) on Wednesday revealed around 16,000 military and support personnel from the American and Filipino militaries will be participating in this year’s “Balikatan” exercises, which will run from April 22 to May 8, 2024.
Col. Michael Logico, Balikatan 2024 executive agent, said this could be broken down into 11,000 troops and support personnel from the US military and 5,000 from the AFP.
And by support personnel, Logico was referring to American military and civilian contractors handling the logistics of the
participating US forces.
“That also includes the civilian contractors and also their regular personnel and of course also members of other US government [agencies] that are also coming in [to witness Balikatan],” he added.
Logico also said that 14 countries have committed to sending military observers to be present at the joint drills between the AFP and its US counterparts. He described the observers as coming mostly from “from Asean but also countries from the region but not from Asean like Japan [and] India.”
Logico said he would give a more detailed list in the coming days.
The AFP earlier said this year’s iteration of Balikatan would focus on “quality training.”
“We are going to have more exercises in key positions all over the country. Aside from quantity, we will heavily lean on towards quality training,” AFP spokesperson Col. Francel Margareth Padilla said earlier.
She added that this year’s war drill will also be more complex and will feature “non-physical domains like cyberspace and information warfare,” aside from the traditional kinetic activities involving land, sea, and air.
More than 17,000 troops from the Philippines and the United States participated in last year’s “Balikatan” which was highlighted by a joint fire exercise that sank a decommissioned World War II Corvette.
SC upholds Sandiganbayan’s grant of bail to Napoles, ex-Masbate solon
THE Supreme Court (SC) affirmed the ruling issued by the anti-graft court Sandiganbayan allowing former Masbate third district representativeRizalina Seachon-Lanete and businesswoman Janet Lim Napoles to post bail in the plunder cases filed against them in connection with the Priority Development Assistance (PDAF) or pork barrel scam.
In a 22-page resolution, the Court denied the petition filed by the Office of the Special Prosecutor (OSP) of the Ombudsman seeking the reversal of theresolutions dated April 12, 2016 and February 13, 2017 issued by the Sandiganbayan’s Fourth Division, which granted the applications for bail of Lanete and Napoles.
The Court held that the anti-graft courtdid not commit any grave abuse of discretion in allowing Lanete and Napoles to post bail considering that the OSP failed to establish the respondents guilt as the threshold of P50 million required in plunder case was not reached.
In its resolutions,Sandiganbayan also held that the OSP failed to provide proof of
any personal dealings between Napoles and Lanete.
The anti-graft court stressed that no evidence was presented by the OSP to show that Lanete and Napoles met to discuss the PDAF scheme and that the former personally received any kickbacks from the latter.
In its petition filed before the Court assailing the grant of bail to Lanete and Napoles, the OSP argued that the anti-graft court gravely abused its discretion when it misappreciated the facts and evidence showing the respondents’ guilt is strong.
The OSP also argued that the Sandiganbayan committed grave abuse of discretion when it measured the prosecution’s evidence against legal standards that “are not applicable to bail proceedings in particular, and to corruption in general.”
In ruling against the petitioner, the SC stressed that the OSP, for the purpose of the bail hearings, failed to present evidence to show that the threshold amount of P50 million was reached.
“Failure to reach the said amount is
NBI told to ‘dig deeper’ on death of Lapid slay coaccused Zulueta
JUSTICE Secretary Jesus Crispin Remulla directed the National Bureau of Investigation (NBI) Wednesday to seek forensic pathologist’s adviceover thesudden death of former Bureau of Corrections (BuCor) Deputy Security Officer Ricardo Zulueta, who is one of the principal accused in the murder of veteran broadcast journalist Percival “PercyLapid” Mabasa in 2022.
Remulla issued the order amidconflicting reports about Zulueta’s cause of death.
fatal because it is a crucial element in the crime of Plunder. Any proof that there was an accumulation of ill-gotten wealth, but in an amount less than P50,000,000.00, means that the accused committed a crime other than the crime of Plunder,” the SC stressed.
“Verily, the Court concludes that the OSP failed to prove that there exists evident guilt or a great presumption of guilt that would warrant the denial of Napoles and Lanete’s right to bail,” it added.
Based on the complaint filed before the Sandiganbayan, the OSP claimed that Lanete, Napoles, and their co-accused committed plunder and amassed ill-gotten wealth in the amount of at least P64.4 millionor 60 percentof the total amount of P107.34 million received by Napoles’ nongovernment organizations, representing the former lawmaker’skickback from his PDAF from 2007 to 2010.
However, the Sandiganbayan excluded certain daily disbursement records (DDRs) amounting to P21.6 million from the computation of the allegedill-gotten wealth amassed by the respondents because they do not pertain to Lanete’s 2007 to 2010 PDAF allocation.
“The Court concurs that said items must be excluded from the computation of the supposed amassed ill-gotten wealth for being irrelevant to this case,” the resolution read.
The SC, however, stressed that its ruling is only limited on the existence of grave abuse of discretion in relation to the bail hearings conducted by the Sandiganbayan and that the OSP may still present evidence to support its plunder case against Lanete and Napoles.
“This ruling is without prejudice to the OSP’s right to present additional evidence during the trial proper of this case to prove beyond reasonable doubt the existence of all the elements of the crime of plunder,” the SC stressed. Joel R. San Juan
The Department of Justice (DOJ) said based on reports, Zulueta was brought to the hospital by his brother because of severe chest pains then died shortly after he was brought to the hospital.
“However, his death certificate showed that the cause of death was cerebrovascular disease intracranial hemorrhage, which brings confusion as to the real cause of death,” the Justice chief said.
“Considering all these possibilities and circumstances, Secretary Remulla urged the NBI to investigate further into the death of Zulueta and seek forensic pathologist’s advice if necessary,” the DOJ added.
Remulla also urged the Philippine National Police (PNP) to coordinate and share the result of its investigation with the DOJ.
He made the request after thePNP ruled out the possibility of foul play in Zulueta’s death.
“To dispel doubts and rumors, once and for all, the DOJ is also contemplating seeking Dr. Raquel Fortun’s expertise to conduct an autopsy on Zulueta’s remains,” Remulla stressed.
“Unravel the truth, leave no stone unturned and don’t let anyone or anything prevent us from pursuing accountability and delivering justice,” he said.
Zulueta, who was considered a fugitive prior to his death,has a pending warrant of arrest along with former BuCor Director General Gerald Bantag for the murder of Lapid and inmate Jun Villamor.
Bantag has remained in hiding after being named as the mastermind in the two killings. Joel R. San Juan
A4 Editor: Vittorio V. Vitug • www.businessmirror.com.ph Thursday, March 21, 2024
www.businessmirror.com.ph
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DOE data: Natgas supply stands at 117,372-million MMcf in ‘23
THE country’s natural gas supply last year stood at 117,372 million standard cubic feet (MMcf), higher than the previous year’s 113,611 MMcf, data from the Department of Energy (DOE) showed.
Of the total output, 89,215 million MMcf was produced from theMalampaya gas field, which accounts for 20 percent of the country’s electricity. The remaining 28,157 MMcf was imported LNG (liquefied natural gas) that was utilized for the commissioning and testing activities of the new LNG terminals and power plants. There was no imported LNG recorded in 2022.
The same data showed that 74,105 MMcf was utilized for power generation, whilethe banked gas consumption for power generation in the same period stood at 10,492 MMcf. These brought the total gas consumption for 2022 at 105,909MMcf.
Since 2001, the country’s total gas output reached 2,670 billion cubic feet
(bcf), excluding last year’s imported LNG. Of which, a total 2,545 bcf was used for power generation, 37,758mmcf for industrial purposes, 184cf for transport, 20,849 MMcf for banked gas consumption.
The DOE has continued to progress the development of the country’s natural gas industry. To maintain the adequate supply and mix of the natural gas supply, there are two reception and regasification facilities for imported LNG in place.
These facilities will support the gaspowered plants needed to stabilize the increasing volumes of variable renewable energy and eventually even non-power uses.
The DOE has proposed to President Marcos to call on Congress to prioritize the legal and regulatory framework for the LNG industry to serve as the framework for the continued expansion of this vital transitional fuel in its march towards a lower carbon energy future. Lenie Lectura
DPWH provides update on implementation of 4 infrastructure projects across regions
THE Department of Public Works and Highways (DPWH) disclosed Wednesday details about four infrastructure projects across different regions, each at various stages of implementation.
In a nutshell, these projects, announced through four separate statements, aim to address various community needs, from enhancing connectivity to safeguarding against natural disasters.
In Agdangan, Quezon Province, the DPWH announced the completion of the Kinagunan Ibaba Bridge. This two-lane bridge, spanning 30 meters with a width of 7.32 meters, now provides safer passage across the river.
Public Works Secretary Manuel M. Bonoan emphasized the project’s role in the ongoing Agdangan Bypass Road Project, which seeks to alleviate traffic congestion and improve the flow of goods and services in the area.
The bridge, constructed at a cost of P30.3 million funded under the 2023 General Appropriations Act (GAA), is poised to enhance access to vital facilities, such as schools, hospitals, and government centers.
Meanwhile, in Davao City, the DPWH is actively constructing a revetment structure along the Talomo River to mitigate flood risks in residential areas.
With a height of 7 meters and
spanning 120 meters, the P74.14-million river wall in Barangay Talomo Proper is now 90 percent complete. It aims to address concerns of constant erosion and narrow channels.
In Baras, Catanduanes, the DPWH said it has completed the Maria Joson Teves Diversion Road. This four-lane bypass road, spanning 426.5 meters that includes a bridge component, diverts traffic away from the town proper, easing congestion and ensuring the safety of agricultural communities near the Macutal River, Quezon Section.
The P120-million project was implemented under the Sustainable Infrastructure Projects Alleviating Gaps (SIPAG) program.
Lastly, in Casiguran, Aurora Province, the DPWH said it has completed a seawall structure along the coastline to protect vulnerable communities from coastal storm surges.
With a length of 346 linear meters, the concrete seawall, constructed at a cost of P39.2 million, provides critical protection to residents of Sitio Minanga in Barangay Calangcuasan.
Additionally, the three-meter-wide carriageway atop the seawall improves transport and access along the coast, benefiting local fishermen and residents alike. Lorenz S. Marasigan
OECD reports ‘high levels’ of gender inequality in PHL
WOMENin the Philippines still experience “high levels of discrimination,” according to the latest result of the OECD’s Social Institutions and Gender Index (SIGI).
The country’s SIGI score reached 50 out of 100, denoting high levels of discrimination.
SIGI scores range from 0 to 100, with 0 indicating no discrimination and 100 indicating absolute discrimination.
The country’s SIGI score is significantly higher than those of other Southeast Asian countries, which have an average score of 39 out of 100. The Philippines also fared poorly against the average score of 29 out of 100 worldwide.
“Discriminatory social institutions undermine women’s rights and opportunities in many spheres of their lives,” OECD said in a report.
“In the Philippines, distinct legislations regulate family and marriage matters— including divorce, inheritance or the administration of assets within the household—for Muslim and non-Muslim individuals,” the report added.
Based on the report, the Philippines obtained a score of 57 out of 100 in the Discrimination in the Family dimension.
This indicator captured power dynamics within the households and evaluated the extent to which girls and women are undervalued.
This was followed by Restricted access to productive and financial resources, where the country scored 50 out of 100. This dimension captured women’s restricted access to and control over critical productive and economic resources and assets.
The country also did poorly in Restricted physical integrity, where it scored 49 out
Economy
DBM releases ₧91.283B for health workers’ 2021 to 2023 benefits
By Reine Juvierre Alberto
THE Department of Budget and Management (DBM) announced Wednesday it released more than P91 billion worth of funds spanning four years for the benefits and allowance of health-care workers affected by the Covid-19 pandemic.
To date, the DBM reported it released a total of P91.283 billion to the Department of Health (DOH) as the implementing agency for the Public Health Emergency Benefits and Allowances (PHEBA).
Broken down, the DBM released a total of P12.897 billion for Special Risk Allowance
(SRA) and P73.261 billion for Health
Emergency Allowance (HEA)/One Covid-19 Allowance (OCA).
Additionally, it allocated P3.650 billion for Covid-19 Sickness and Death Compensation and P1.472 billion for other benefits, such as meals, accommodations, and transportation allowances.
The DBM noted that the funds were released to DOH in 2021 amounting to P12.1 billion, in 2022 with P28 billion, P31.1 billion in 2023, and P19.962 billion in 2024.
The funds were sourced from the General Appropriations Act (GAA), Unprogrammed Appropriations (UA), Bayanihan to Heal As
One Act, Miscellaneous Personnel Benefits Fund (MPBF), and Contingent Fund (CF).
The DOH said that out of the over P91 billion worth of funds, P76 billion has been released, according to its report.
On the other hand, the DOH said it is still validating the health-care worker benefits under the PHEBA despite the allocation of funds by the DBM since 2021.
DOH Undersecretary Ma. Carolina VidalTaiño, sin a letter to the DBM said that the agency has yet to complete the health emergency allowance (HEA) mapping, which was recommended by the budget department.
Go backs improved grassroots health-care infra devt, lauds establishment of SHC in CamNorte
SENATOR Christopher “Bong” Go, chairperson of the Senate Committee on Health and Demography, lauded the Department of Health (DOH) and the local government of Talisay, Camarines Norte, including Mayor Donovan Mancenido and Vice Mayor Maria Cristina Arevalo, for the blessing and soft launch of a new Super Health Center (SHC) in the town.
Go’s Malasakit team conducted a visit to the SHC during its soft launch on Friday,
March 15. They also distributed snacks, food packs, shirts, and balls for basketball and volleyball to barangay health workers present.
Go also emphasized the importance of a robust health-care system, particularly in light of the lessons learned during the pandemic, especially at the grassroots.
The SHC will be a hub for various primary health-care services, including database management, out-patient, dental, birthing, isolation, diagnostic (laboratory: x-ray,
ultrasound), pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation centers, and telemedicine. The centers can also be used as satellite vaccination sites for Filipinos who live far from the urban centers.
“It’s a medium type of a polyclinic, para mailapit po natin ang serbisyo medikal sa ating mga kababayan. Hindi na nila kailangan mag biyahe pa ng ospital for
of 100. This dimension measured social institutions that make women and girls vulnerable in these areas and limit their control over their bodies and reproductive autonomy.
The last dimension, Restricted civil liberties, saw the country posting SIGI score of 42 out of 100. This dimension focused on social institutions that restrict women’s access to and participation and voice in the public and social spheres.
OECD said the Family Code contained discriminatory provisions that restrict a woman’s right to be the legal guardian of her child or that limit a married woman’s right to equally administer land assets and properties of the household.
Further, the Code of Muslim Personal Laws, which governs marriage and family affairs for Muslim individuals, contained discriminatory provisions that limit a woman’s guardianship over her child. It also grants men more rights to divorce and establishes a waiting period for women to remarry following a divorce. The same law grants male heirs larger shares of inheritance compared to female heirs and prevents a woman from working without the consent of her spouse.
“The legal framework also fails to fully protect women’s physical integrity and to guarantee them control and autonomy over their body,” the OECD said.
“For instance, the law continues to provide for reduced penalties in cases of ‘honor crimes’, perpetrators of rape can avoid prosecution if they marry the victim/ survivor, and abortion is criminalized under all circumstances, even if the pregnant woman’s life is at risk,” it added.
Cai U. Ordinario
A5
The HEA Mapping will capture and present all PHEBA claims and payments by regional/health facilities for the duration of the period covered by the benefit.
The DBM said it came to an agreement with DOH that there is a need for the latter to speed up the finalizing of the computation of the HEA claims in arrears.
It added that this would enable the DBM to determine if additional funding requirements are necessary despite the cumulatively released funds for healthcare and non-health-care workers.
The DBM added that it is anticipating HEA Mapping detailing the utilization, disbursement, and distribution of the PHEBA releases no later than March 15, 2024.
It also recommended that the said record be published on the DOH website for transparency to all claimants and stakeholders.
minor cases, ‘yung panganganak, mga dental, laboratory, x-ray, pwede na pong gawin dito ‘yung primary care, ‘yung Konsulta.Malakingbagaypoitonahindina nilakailanganmagbiyahepasamgaospital dahilditonaposilamagpapa-check up at magpapakonsultaatmayroonnamanpong Konsulta package ang ating PhilHealth,” explained Go.
Through the collective efforts of the DOH led by Secretary Teodoro Herbosa, local government units, and fellow lawmakers, sufficient funds have been allocated under the DOH for the construction of 307 Super Health Centers in 2022, 322 in 2023, and 132 in 2024. As the lead implementing agency, DOH identifies the strategic areas where these SHCs will be established.
Intermittent fasting may cause cardiovascular risk, study says
By Claudeth S. Mocon-Ciriaco @claudethmc3
DOES intermittent fasting for 8 hours really work?
An abstract published by the American Heart Association on Monday, March 18,showed that over 20,000 adults who followed an 8-hour time-restricted eating schedule—a type of intermittent fasting—had a 91 percent higher risk of death from cardiovascular disease.
“Overall, this study suggests that time-restricted eating may have shortterm benefits but long-term adverse effects. When the study is presented in its entirety, it will be interesting and helpful to learn more of the details of the analysis,” said Christopher D. Gardner, Ph.D., FAHA, the Rehnborg Farquhar Professor of Medicine at Stanford University in Stanford, California, and chair of the writing committee for the Association’s 2023 scientific statement, Popular Dietary Patterns: Alignment with American Heart Association 2021 Dietary Guidance.
The study also stated that people with heart disease or cancer also had an increased risk of cardiovascular death.
Compared with a standard schedule of eating across 12-16 hours per day, limiting food intake to less than 8 hours per day was not associated with living longer, it added.
Likewise, people with cardiovascular disease who follows restricted eating schedule additionally had a 66 percent higher
risk of death from heart attack or stroke.
“One of those details involves the nutrient quality of the diets typical of the different subsets of participants. Without this information, it cannot be determined if nutrient density might be an alternate explanation to the findings that currently focus on the window of time for eating. Second, it needs to be emphasized that categorization into the different windows of time-restricted eating was determined on the basis of just two days of dietary intake,” Gardner said.
Senior study author Victor Wenze Zhong, Ph.D., a professor and chair of the department of epidemiology and biostatistics at the Shanghai Jiao Tong University School of Medicine in Shanghai, Chinap, said that restricting daily eating time to a short period, such as 8 hours per day, has gained popularity in recent years as a way to lose weight and improve heart health.
“However, the long-term health effects of time-restricted eating, including risk of death from any cause or cardiovascular disease, are unknown,” he said.
In this study, researchers investigated the potential long-term health impact of following an 8-hour time-restricted eating plan.
They reviewed information about dietary patterns for participants in the annual 2003-2018 National Health and Nutrition Examination Surveys (NHANES) in comparison to data about people who died in the US from 2003 through Decem-
Muslim orphanage gets aid from American NGO
DAVAO CITY—An orphanage for Filipino Muslims in central Mindanao received essential supplies from an American nongovernment organization.
The Markadz Al-Arfadz Orphanage received supplies of rice and groceries from the We Care for Humanity (WCH), an American nonprofit organization, with offices in the US states of California and Illinois.
In a statement Wednesday, the WCH said it joined with a Maguindanao royal family in donating humanitarian aid to the orphanage in Cotabato City during Islam’s fasting month of Ramadan. WCH founder, Queen Maria Amor and Sultan Zulkarnain Mastura of the Mastura clan led the donation.
“Following the successful kanduli, or thanksgiving, event, which featured the Sultan of Magindanaw’s ‘stepping on white dust ritual,’ the We Care for Humanity team and the Maguindanao royal family offered humanitarian assistance to the Markadz Alarfadz Orphanage Center on March 11 in the spirit of Ramadan,” the WCH said.
The collaboration provided essential supplies and uplifting messages, reflecting the spirit of Ramadan.
Since 2022, the US-based NGO has been involved in charitable initiatives in Mindanao in partnership with the Sultanate of Magindanaw.
The Ustadz Al-faradh Markadz expressed gratitude for the support and congratulated the newly enthroned Sultan on his prosperous reign.
The collaboration between the We Care for Humanity and the Sultanate of Magindanaw has significantly benefited the Markadz Al-arfadz Orphanage Center, WCH said. It was the group’s second visit.
“Leading the delegation was HRH Queen Mariam Leonor Torres Mastura, the WCH founder, who presented the organization’s mission and dedication to aiding the orphanage.
The royal family was led by Zulkarnain Mastura VI, the 26th supreme sultan of Magindanaw.
ber 2019, from the Centers for Disease Control and Prevention’s National Death Index database.
Future research may examine the biological mechanisms that underlie the
associations between a time-restricted eating schedule and adverse cardiovascular outcomes, and whether these findings are similar for people who live in other parts of the world, the authors noted.
Thursday, March 21, 2024
Editor: Vittorio V. Vitug
BusinessMirror A6 www.businessmirror.com.ph Thursday, March 21, 2024
BusinessMirror A7 www.businessmirror.com.ph Thursday, March 21, 2024
Biz groups raise concerns ahead of resumption PHL-EU FTA talks
By Andrea E. San Juan @andreasanjuan
WHILE welcoming the resumption of negotiations between the Philippines and the 27-member bloc European Union (EU) for a free trade agreement (FTA), Philippine business groups raised their concerns Wednesday to trade negotiators, such as stringent climate change requirements, working on Philippine reforms, among others.
Ahead of the resumption of talks, the Philippine Chamber of Commerce and Industry (PCCI) said the EU “must be realistic in its expectations of the Philippines.” In return, the Philippines’ trade negotiators, “while being able to leverage on our comparative advantages for a PHL-EU partnership, must ensure that the conditionalities imposed by the EU are justifiable under our level of development.”
“There are other areas of concern as well, for example, those that impose carbon emission standards that, for emerging economies, are barriers to attaining a higher level of growth,” PCCI President Enunina Mangio told the BusinessMirror in a Viber message on Wednesday.
This was the same sentiment expressed by Sergio R. Ortiz-Luis Jr., the president of Philippine Exporters Confederation Inc. (Philexport). He said in an interview with reporters Tuesday, “I know they’re planning to do a shielding on carbon [emissions]. Personally, I don’t agree. Because we’re a very small contributor of carbon emission here in the Philippines.”
The Philexport chief emphasized that developing countries find it difficult to catch up on these requirements.
On top of climate change issues, Ortiz-Luis said trade negotiators should look into the high shipment cost to Europe “and negotiate that some of the non-tariff barriers be dismantled” so that the Philippines will be on an equal footing with other Asian countries that trade with Europe.
Asked which are these non-tariff barriers, “Well some of them come from labor issues. For instance, you’re hearing about the question of mga slave labor coming from countries like that. And sometimes even climate change issues, carbon issues. They’re being brought to the table. And we developing countries are finding it hard to catch up on these.”
Shifting to domestic issues that must be looked into, Semiconductor and Electronics Industries in the
Philippines Foundation Inc. (SEIPI)
President Danilo C. Lachica said, “We need to work on FTAs while continuing to work on reforms and domestic concerns.”
But Lachica highlighted that “FTAs are important for reducing trade barriers and promoting trade, inclusive of semiconductor and electronics products.”
Meanwhile, Ortiz-Luis emphasized that local port charges, such as those being imposed by the Philippine Ports Authority (PPA) are adding to the already high shipping costs that Philippine exporters are shouldering.
“Unfortunately, mahal na yung ginagawa ng shipping cost. Binabanatan pa tayo ng PPA dito Yung local counterpart natin, pinagkakakitaan pa ,” he said.
In November 2023, several business chambers, including the European Chamber of Commerce of the Philippines (ECCP) expressed concern over PPA’s proposed increase in storage charges for foreign containerized cargo, saying this will reduce the competitiveness of the Philippine market.
Ortiz-Luis also recognized that there are many protocols in a free trade agreement and “many of them are hard to comply with.”
With this, he underscored the importance of getting the private sector on board when negotiating trade deals. “That’s why we’re saying, the private sector should be involved…the players.”
The head of the umbrella organization of Philippine exporters shared, “In the past, we have had trade
agreements that are laid down to us. And it’s too late to complain. So it’s important that the government should involve the players from the very start. So that hindi tayo nanghihingi ng support sa government later on.”
Through the government’s lens, the Department of Trade and Industry (DTI) Undersecretary for International Trade Policy Group (ITPG) said the trade negotiating team usually consults with stakeholders prior to the negotiation proper.
“We conduct consultations with stakeholders but renegotiation proper itself is being done with utmost confidentiality, thus, government negotiators lang,” DTI Assistant Secretary Allan Gepty told the BusinessMirror.
Gepty explained the process of negotiations towards finally inking the FTA. While he noted that it will be “difficult to give a definite timeline,” the Trade official said, “The goal is for us to conclude the negotiations the soonest possible time.”
“In any case, for purposes of timeline, we have to factor in that the Philippines may soon reach the upper middle income status, and eventually if this will be sustained consecutively for 3 years, then it will not qualify anymore under the EU GSP+. Hence, before this happens, we have to make sure that the FTA is already in place,” he told the BusinessMirror in a Viber message Tuesday.
To illustrate, the Trade undersecretary gave an overview of what happens during trade negotiations.
“Like any other FTA negotiations, we have to secure the necessary mandate, form the negotiating team, conduct series of consultations with all stakeholders, and then embark in a negotiation,” Gepty said.
“During negotiations consultations will continue, and once it is concluded, then signing can be done after securing the necessary signing authority,” he also noted.
By Reine Juvierre Alberto
THE Bureau of Customs (BOC) reported Wednesday it has once again intercepted an estimated P158.745 million worth of suspected dried marijuana or kush concealed in balikbayan boxes from Thailand on March 18.
In a physical examination by the Customs Intelligence and Investigation ServiceManila International Container Port (CIISMICP) on Monday, 132.288 kilograms of marijuana were found in vacuum-sealed packages inside six balikbayan boxes.
The BOC said the boxes were consigned to a certain Mary Gail Quesada and Rainier Quesada via the Marcelo D. Laylo Cargo Forwarders.
Customs Commissioner Bienvenido Y. Rubio said that sending balikbayan boxes is a simple tradition of Filipinos to give gifts to their families and friends. Now, the boxes are being used by criminals to smuggle illegal drugs into the country.
“No matter how many times they try, the full utilization of our personnel in shipment
Once the talks are done, he said the Department of Foreign Affairs (DFA) would evaluate and recommend if the FTA will be considered as an executive agreement or a treaty.
If it is a treaty, he said it would be subjected to ratification by the President and concurrence by the Senate.
If it is an executive agreement, it will just be subjected to ratification.
“However, given the scope and levels of commitments aspired for in the PHL-EU FTA, it is likely that it will be subjected to Senate concurrence,” Gepty noted.
It is worth noting that the Regional Comprehensive Economic Partnership (RCEP) was ratified through Senate concurrence in February 2023. The Trade official underscored the importance of the EU as the Philippines’s trading partner, adding that “EU has entrenched its economic engagements with the Philippines, and in the same manner, many of our stakeholders have established strong business relations with the EU.”
For instance, he said in 2023 EU was the Philippines’s 5th largest trading partner with $16.16 billion in total trade or 8.1 percent share of Philippine total trade. The bloc was also the Philippines’ 6th export market with $8.37 billion and 6th import supplier valued at $7.79 billion.
“At present, we are enjoying preferential market access via the EU Generalised Scheme of Preferences Plus [EU GSP+] and as far as utilization is concerned, we reached a record high of 77 percent in 2022, benefitting many Filipino companies, farmers, and workers in several sectors, including garments, food processing, fisheries, and agriculture,” Gepty said. But given that EU GSP+ is a “unilateral arrangement” and is not permanent, Gepty underscored the need to ensure that an FTA be in place for the country’s stakeholders so that preferential market access is maintained.
monitoring and available resources will foil any smuggling attempt,” Rubio added.
CIIS Director Verne Enciso said that the MICP requested the issuance of an alert order last February 28, after receiving derogatory information that the shipment contains illegal drugs and other misdeclared and undeclared items.
According to Enciso, the shipment was originally declared as consolidated balikbayan boxes and personal effects from Thailand.
“We’ve already seen this modus before, so after vetting the information that we received, we immediately went to work to thwart this smuggling activity,” Enciso added.
The first balikbayan box contained 20 vacuum-sealed packages with 1,009 grams per package, the second box contained 25 vacuum-sealed packages with 1,047 grams per package, and 25 vacuum-sealed packages with 1,034 grams per package were found in the third box.
Additionally, there were also 20 vacuumsealed packages with 1,007 grams per package in the fourth box and 20 vacuum-sealed packages with 1,021 grams per package in the fifth box.
He also noted that the EU’s foreign direct investments into the Philippines amounted to $29.16 million in 2022 and $63.99 billion in 2023, contributing to industry development, employment generation and economic growth.
“Like the EU, the Philippines aims for an ambitious, balanced, and comprehensive FTA. We are likewise guided by our Philippine Development Plan [PDP] for 2023 to 2028 which directs us to advance purposive, assertive, and forwardlooking FTAs,” said Gepty.
“With the ultimate goal of effectively enhancing trade and investments, we expect the FTA to be comprehensive covering not just market access of goods, services, and investments but stable and predictable rules that are conducive for business. We also aim to make trade more inclusive and sustainable, ensuring that it will translate to concrete social, environmental, and economic benefits for all stakeholders,” the Trade official also noted.
Meanwhile, Ortiz-Luis also stressed the need for the Philippines to “catch up” by securing this free trade deal with the EU.
“Well, you know, we need all these bilateral trade talks, ‘no? Because among our neighbors, we have the JPEPA, we have the Asean, and lately the RCEP. The others have about 12, 13 [FTAs], I think. And so we really have to catch up,” the Philexport chief noted.
He cited that the Philippines’s garments industry, agricultural products, such as food items and furniture, among others, would stand to benefit from this trade deal.
Mangio, as the head of PCCI, a major business group in the country, emphasized that a free trade deal with the bloc could stretch the opportunities for the Philippine Business Process Outsourcing (BPO) industry.
“While it covered only 6,274 commodities [or 66 percent of EU tariff lines], reports from the DTI say our exports to the EU rose by 27 percent just one year after we were given the special incentive arrangement in 2014. The FTA should be able to expand on opportunities especially in services such as BPOs and KPOs [knowledge process outsourcing], digital commerce and agritechnology,” the PCCI head said.
BOC seizes P158.745-million kush hidden in balikbayan boxes shipped from Thailand E
TIn the sixth box, 15 vacuum-sealed packages with 1,021 grams of marijuana per package and 16 vacuum-sealed packages with 263 grams of kush cake and cream per package were found.
The BOC said all six balikbayan boxes were returned to the container for safekeeping while confirmatory samples were sent over to the Philippine Drug Enforcement Agency (PDEA).
The boxes examined were witnessed by the assigned Customs examiner, CIIS, Enforcement and Security Service (ESS), Customs Anti-Illegal Drug Task Force (CAIDTF), Philippine Coast Guard (PCG), Environmental Protection and Compliance Division (EPCD), and PDEA, the BOC added.
According to the BOC, the consignees, senders, and recipients of the balikbayan boxes will possibly face charges in violation of Section 118 (Prohibited Importation and Exportation) and Section 1400 (Misdeclaration) in goods declaration in relation to Section 1113 (Property Subject to Seizure and Forfeiture) of the Customs Modernization and Tariff Act (CMTA) and Republic Act No. 9165 (Comprehensive Dangerous Drugs Act of 2002).
Space tech a big boost in maritime domain awareness
HE Philippines can protect the maritime environment and assert its rights in the West Philippine Sea (WPS) with the help of space-based technology like satellites.
This was the assertion of Stratbase Institute president Dindo Manhit during the first-ever conference on space cooperation in the Philippines, organized by the Stratbase Institute, in partnership with the Embassy of Canada in the Philippines and the Philippine Space Agency, held on Tuesday, March 19.
There, he emphasized the importance of
space science and technology applications (SSTA) within
fishing activities and monitoring environmental changes, space-based assets offer unparalleled insights into the dynamics of our maritime areas,” he added. Aside from utilizing SSTA in the maritime domain, several experts also discussed spacebased technology’s importance in other sectors, such as agriculture, connectivity, and climate change, among others.
Rex Anthony Naval
News www.businessmirror.com.ph | Editor: Vittorio
Vitug Thursday, March 21, 2024 A13 BusinessMirror
V.
the field of maritime domain awareness, particularly in the WPS. “In our advocacy to bring to light Chinese interference in the West Philippine Sea, the monitoring of Chinese Coast Guard vessels through satellite imagery has become useful in showing Chinese aggression to the world and asserting our rights in that area,” Manhit said. “By harnessing the power of satellites, space agencies, and international partnerships, such as the one that we have with the Embassy of Canada today, we have the opportunity to revolutionize our capabilities at sea. From tracking vessels in real-time to detecting illegal
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Heavy fighting rages around Gaza’s main hospital as Israel raids it for a second day
By Wafaa Shurafa & Samy Magdy The Associated Press
RAFAH, Gaza Strip—Explosions and shootings shook the Gaza Strip’s biggest hospital and surrounding neighborhoods as Israeli forces stormed through the facility for a second day Tuesday. The military said it had killed 50 Hamas militants in the hospital, but it could not be independently confirmed that the dead were combatants.
The raid was a new blow to the Shifa medical complex, which had only partially resumed operations after a destructive Israeli raid in November. Thousands of Palestinian patients, medical staff and displaced people were trapped inside the sprawling complex Tuesday as heavy fighting between troops and Hamas fighters raged in nearby districts.
“It’s very hard right now. There’s heavy bombardment in the area of Shifa, and buildings are being hit. The sound of tank and artillery fire is continuous,” Emy Shaheen, who lives near the hospital, said in a voice message with repeated booms of shelling audible in the background. She said a large fire had been raging for hours near the hospital.
The Israeli military said it raided Shifa early Monday because Hamas fighters had grouped in the hospital and were directing attacks from inside.
The claim could not be confirmed, and the Hamas media office said all those killed in the assault were civilians. But the surge in fighting in Gaza City underscored Hamas’ continued presence in northern Gaza months after Israeli ground troops claimed they largely had control over the area.
Israel launched its offensive in Gaza vowing to destroy Hamas after the group’s October 7 attack on southern Israel. More than 31,800 Palestinians have been killed in the bombardment and offensive since. Much of northern Gaza has been leveled, and an international authority on hunger crises warned on Monday that 70% of the people there were experiencing catastrophic hunger and that famine was imminent.
The mayhem in the north came as Israeli Prime Minister Benjamin Netanyahu repeated his determination to invade Gaza’s southernmost town, Rafah—one of the
Russia plans to evacuate 9,000 children from shelled border region by Ukraine
By The Associated Press
RUSSIA plans to evacuate about 9,000 children from a border region because it is being shelled continuously by Ukraine, an official said Tuesday, reflecting Kyiv’s increasing focus on striking targets behind a front line that has barely shifted in recent months.
The children will be moved from the Belgorod region farther east, away from the Ukraine border, said the region’s governor, Vyacheslev Gladkov.
The announcement came a day after Russian President Vladimir Putin said the Kremlin wants to create a buffer zone to help protect border regions from long-range Ukrainian strikes and crossborder raids more than two years into the war.
Ukraine has increasingly used its long-range firepower to hit oil refineries and depots deep inside Russia and has sought to unsettle the Russian border regions, putting political pressure on Putin.
In addition, Ukraine-based Russian opponents of Putin and the Kremlin have launched crossborder raids. Putin discussed the cross-border incursions during a meeting Tuesday with top officials of the Federal Security Service, the FSB.
Civilian areas of Belgorod have been battered in the fighting. According to Gladkov, 16 people died and 98 were injured over the last week alone. On Saturday, he ordered the closure of shopping malls through Monday and schools through Tuesday because
of the security situation.
The planned evacuation of children is one of the biggest publicly announced in the Belgorod region since the war began in February 2022. About 1,000 people, including children and their families, were evacuated to other Russian regions last June, and there have been other sporadic reports of evacuations over the past year.
It was unclear whether adults would be accompanying the children under the latest evacuation order. If so, the total number of evacuees could be much higher.
Roughly 600 people were in temporary accommodation Monday after being evacuated from their homes, Gladkov said.
Three people were wounded Tuesday in an aerial attack from Ukraine on the Belgorod region, Gladkov said, including a 14-yearold who had part of a limb amputated. His mother was also seriously hurt in the attack, he said.
The previous day, four members of the same family died in an attack on the Belgorod village of Nikolskoe, according to Gladkov. A grandmother, mother, her partner and 17-year-old son were killed after a missile struck their house, he said.
It has not been possible to independently verify either side’s battlefield claims.
Ukraine doesn’t usually comment directly about strikes on Russian soil. But Ukrainian Foreign Minister Dmytro Kuleba said Tuesday that any military action there was “the direct consequence of the illegal and
last major towns not targeted by a ground assault. A day earlier, in their first phone call in a month, US President Joe Biden urged Netanyahu not to carry out a Rafah operation, urging “an alternative approach” to more precisely target Hamas fighters there.
The United States, Israel’s closest ally, has expressed concern over attacking Rafah because some 1.4 million people from across Gaza have crowded into the area. UN officials have warned of a massive death toll and the potential collapse of the humanitarian aid effort if troops moved into Rafah.
Netanyahu agreed to send a team of Israeli officials to Washington to discuss Rafah with Biden administration officials.
But on Tuesday, he told a parliamentary committee that while he would listen to US proposals “out of respect” to Biden, “we are determined to complete the
unprovoked aggression of Russia against Ukraine” when the Kremlin’s forces launched their full-scale invasion.
Two Ukrainian drones were shot down over Belgorod and another over the neighboring Voronezh region overnight, the Russian defense ministry said. It gave no details of any damage or injuries.
Meanwhile, Russia used S-300 missiles to attack the city of Selydove in the eastern Donetsk region of Ukraine overnight. Four people were wounded and houses and cars were damaged, the regional prosecutor’s office said.
On Monday, Russian attacks in the Donetsk region killed one person and wounded another, according to Vadym Filashkin, the regional governor.
Ukrainian President Volodymyr Zelenskyy urged Ukraine’s Western partners on Tuesday to quickly supply more air defense systems and illustrated the scale of the challenge Kyiv’s forces face. He said so far this month, Russia has used 130 missiles of various types, more than 320 Shahed drones and nearly 900 guided air bombs to target various regions of Ukraine.
Ukraine has ramped up its defense production and plans to reach levels unseen since the country gained independence during the 1991 collapse of the Soviet Union, according to Zelenskyy. But it still relies heavily on Western support, which has waned in recent months.
Kuleba, the foreign minister, said European countries are expanding their military output and purchases to provide more help while additional US support is stuck in Congress.
elimination of these (Hamas) battalions in Rafah, and there is no way to do this without a ground incursion.”
Airstrikes in Rafah overnight destroyed an apartment and several houses, killing at least 15 people, including six women and children, hospital officials said.
New Shifa siege
THE army last raided Shifa Hospital in November after claiming that Hamas maintained an elaborate command center within and beneath the facility. The military revealed a tunnel leading to some underground rooms, as well as weapons it said were found inside the hospital. However, the evidence fell short of the earlier claims, and critics accused the army of recklessly endangering the lives of civilians.
The hospital, which is the heart of Gaza’s health system, was severely damaged in the assault and has only been able to resume
limited operations since. Gaza officials say some 30,000 displaced people were taking refuge in the compound when the new Israeli assault began.
The raid came before dawn Monday when tanks surrounded the facility and troops stormed into multiple buildings.
The military on Tuesday said two of its soldiers had been killed in the operation. It said Tuesday that 300 suspects were detained, including dozens it accused of being fighters from Hamas and the smaller Palestinian militant group Islamic Jihad. Some patients were evacuated to nearby Ahli Hospital, said Mahmoud Bassal, civil defense spokesperson.
Abdel-Hady Sayed, who has been sheltering in the Shifa hospital, said troops had rounded up dozens in the hospital’s yard, blindfolding, handcuffing, and ordering them to strip their clothes before some were taken away.
He said those inside, especially men, were afraid to follow Israeli calls to evacuate the hospital. “They tell you to get out, it’s a safe corridor and once they see you they arrest you,” he said. “All are afraid here. The world should do something to stop them.”
The military has identified one person killed in the raid— Faiq Mabhouh, a senior officer in Gaza’s police force, which is under the Hamas-led government but distinct from the militant group’s armed fighting wing. The military said he was hiding in Shifa with weapons, but the Gaza government said he was in charge of protecting aid distribution in the north. The raid prompted heavy
fighting for blocks around Shifa. Hamas’ military wing said it struck two Israeli armored vehicles and a group of soldiers with rockets in the vicinity of the hospital.
Emergency services received multiple calls for help from people whose buildings had been bombed in the streets around Shifa, but rescue teams could not go to the scene because of the fighting, Bassal said.
Kareem al-Shawwa, a Palestinian living about a kilometer (less than a mile) from the hospital, said the past 24 hours had been “terrifying,” with explosions and heavy exchanges of fire. He said Israeli troops had told residents to evacuate the area, but he and his family were too afraid of getting arrested or caught in the fighting to leave their home.
Israel accuses Hamas of using hospitals and other civilian facilities to shield its fighters, and the Israeli military has raided several hospitals since the start of the war.
The Gaza Health Ministry said Monday that at least 31,726 Palestinians have been killed in Israel’s offensive. The ministry doesn’t differentiate between civilians and combatants in its count, but it says women and children make up two-thirds of the dead.
Palestinian militants killed some 1,200 people in Hamas’ October 7 attack into southern Israel that triggered the war and took another 250 people hostage. Hamas is still believed to be holding about 100 captives, as well as the remains of 30 others, after most of the rest were freed during a cease-fire last year.
Magdy reported from Cairo.
UN’s Guterres decries violence in Myanmar as military airstrikes kill 25 Rohingya in west
By Grant Peck The Associated Press
BANGKOK—Military airstrikes in western Myanmar killed at least 25 members of the country’s Muslim Rohingya minority, including children, local media reported, prompting the UN chief to express concerns over the escalating violence.
According to the reports, the airstrikes took place early on Monday morning and targeted the village of Thada, north of Minbya township in Rakhine state. The strikes also left another 25 people wounded. The military government had no immediate comment on the reports.
UN Secretary-General António Guterres expressed deep concern over “the deteriorating situation and escalation of conflict in Myanmar,” according to a spokesperson.
The UN chief “condemns all forms of violence and reiterates his call for the protection of civilians, including aid workers in accordance with international humanitarian law, for the cessation of hostilities, and humanitarian access,” said Guterres’ deputy spokesperson, Farhan Haq, in a statement on Monday.
Myanmar’s military is increasingly using airstrikes to counter the widespread armed struggle against its rule since its seized power from the elected government of Aung San Suu Kyi in February 2021.
A report issued at the end of last year by Nyan Lynn Thit Analytica, a Myanmar research and advocacy organization, said that since the military’s 2021 takeover, 936 civilians had been killed and 878
wounded in 1,652 airstrikes. It said 137 religious buildings, 76 schools and 28 hospital and dispensaries had been damaged by aerial attacks.
The Rohingya village of Thada is about 340 kilometers (120 miles) southwest of Mandalay, the country’s second largest city. However, almost 90 percent of Myanmar’s people are Buddhist, especially the Burman majority, which constitutes the Southeast Asian nation’s ruling class.
Two villagers from the Thada village told The Associated Press late on Monday that a jet fighter dropped two bombs on the village at around 1:30 a.m. Six children were among the 25 killed, they said, speaking on condition of anonymity for fears of arrests and reprisals.
The victims included those who had fled fighting in nearby villages, the villagers said.
Independent media including Myanmar
Now, The Irrawaddy and Rakhine-based outlets also reported about the incident, giving death tolls between 21 and 23 on Monday and Tuesday. Different casualty tolls are common in areas of Myanmar that are difficult to access.
The AP was unable to independently confirm details of the airstrikes because reporting is greatly restricted and the military government has cut most phone services in the affected area.
Members of the Rohingya minority have long been persecuted in Buddhistmajority Myanmar. About 740,000 fled from Myanmar to refugee camps in Bangladesh when the military in August 2017 launched a brutal counterinsurgency campaign in response to attacks in
Rakhine by a guerrilla group claiming to represent the Rohingya.
The Buddhist Rakhine are the majority ethnic group in Rakhine, which is also known by its older name of Arakan.
The Rakhine, like other ethnic groups in Myanmar’s border regions, have long sought more autonomy from the central government, and have set up their own armed force, called the Arakan Army.
The well-trained and well-armed Arakan Army has been attacking army outposts in Rakhine since November and has claimed to have seized two towns and scores of military targets in at least five townships during the past three months.
It also captured a town in neighboring Chin state. It has also been active in northeastern Myanmar, where it joined an alliance with two other ethnic armed groups to seize a large swath of territory along the border with China.
Until late last year, the Arakan Army had maintained a cease-fire in Rakhine with the military government but after the fighting began in the northeast, it launched an offensive on its home ground.
The military has been carrying out an increasing number of airstrikes in the township of Minbya, which has been largely under the control of the Arakan Army since late February.
“The expansion of conflict in Rakhine State is driving displacement and exacerbating pre-existing vulnerabilities and discrimination,” the statement by Haq, the UN deputy spokesperson, said.
It added that the UN chief was “alarmed by reports of ongoing airstrikes by the military,” including the one in Minbya.
The World Thursday, March 21, 2024 Editor: Angel R. Calso • www.businessmirror.com.ph A16 BusinessMirror
PALESTINIANS
mourn relatives killed in the Israeli bombardment of the Gaza Strip at a hospital morgue in Rafah on Tuesday, March 19, 2024. AP/FATIMA SHBAIR
The World
US Defense Secretary Austin vows unwavering support for Ukraine’s war effort against Russia
By Lolita C. Baldor The Associated Press
RAMSTEIN AIR BASE, Germany—Defense Secretary Lloyd Austin vowed Tuesday that the US will continue to support Ukraine’s war effort against Russia, even as the US Congress remains stalled over funding to send additional weapons to the front.
“The United States will not let Ukraine fail,” said Austin, addressing more than 50 defense leaders from Europe and around the world who are meeting at the Ramstein Air Base in Germany. “This coalition will not let Ukraine
The meeting comes a week after US defense officials found and used $300 million in contract savings to fund a new package of military aid for Ukraine, pulling weapons from Pentagon stocks.
During the session, leaders from other nations promised new aid for Ukraine. German Defense Minister Boris Pistorius told reporters that Germany will provide ammunition and armored and transport vehicles worth about $542 million (500 million euros).
“We are helping Ukraine with what it needs most in its defense
against Russian aggression,” Pistorius said, adding that the aid includes 10,000 rounds of ammunition from the German Army, or Bundeswehr, stocks that would be delivered to Ukraine very soon, as well as 100 armored vehicles for the infantry and 100 transport vehicles.
Asked whether he still sees the Americans as a reliable ally considering the ongoing delay in funding approval by Congress, Pistorius said, “I have no doubt about the reliability of the Americans.”
Speaking to reporters after the meeting, Austin said that “Ukraine’s survival is in danger” and that he leaves the meeting “fully determined to keep US security assistance and ammunition flowing. That’s a matter of survival and sovereignty for Ukraine, and it’s a matter of honor and security for America.”
The $300 million US aid package was the first tranche of weapons sent by the Biden administration since December, even as battlefield conditions in Ukraine have been getting increasingly dire.
The found money—which officials called a “one-time shot”— allowed the Defense Department to use presidential drawdown authority, or PDA, to pull weapons and equipment from Pentagon
stocks and send them quickly to Ukraine. The funds are then used to buy replacement items to ensure the US military is ready to fight and protect the homeland. US leaders had insisted for the past three months that they couldn’t take more weapons off the shelves because they have run out of money to replenish the stocks. Congress has been deadlocked for months over a new $95 billion supplemental bill that includes about $60 billion in aid for Ukraine.
Brazil’s Bolsonaro indicted for 1st time over alleged falsification of his vaccination status
By Mauricio Savarese The Associated Press
SAO PAULO—Former Brazilian President Jair Bolsonaro was formally accused Tuesday of falsifying his Covid-19 vaccination status, marking the first indictment for the embattled far-right leader, with more allegations potentially in store.
The federal police indictment released by the Supreme Court alleged that Bolsonaro and 16 others inserted false information into a public health database to make it appear as though the then-president, his 12-year-old daughter and several others in his circle had received the Covid-19 vaccine.
Police detective Fábio Alvarez Shor, who signed the indictment, said in his report that Bolsonaro and his aides changed their vaccination records in order to “issue their respective (vaccination) certificates and use them to cheat current health restrictions.”
“The investigation found several false insertions between November 2021 and December 2022, and also many actions of using fraudulent documents,” Shor added.
The detective said in the indictment that Bolsonaro’s aidede-camp, Mauro Cid, told investigators the former president asked him to insert the false data into the system for both himself and his daughter. Cid also said he delivered the vaccination certificates to Bolsonaro personally.
During the pandemic, Bolsonaro was one of the few world leaders who railed against the vaccine. He openly flouted health restrictions and encouraged other Brazilians to follow his example. His administration ignored several offers from pharmaceutical company Pfizer to sell Brazil tens of millions of shots in 2020, and he openly criticized a move by Sao Paulo state’s governor to buy vaccines from Chinese company
Sinovac when no other doses were available.
Brazil’s prosecutor-general’s office will have the final say on whether to use the indictment to file charges against Bolsonaro at the Supreme Court. The case stems from one of several investigations targeting Bolsonaro, who governed from 2019 to 2022.
Bolsonaro’s lawyer, Fábio Wajngarten, called his client’s indictment “absurd” and said he did not have access to it.
“When he was president, he was completely exempted from showing any kind of certificate on his trips. This is political persecution and an attempt to void the enormous political capital that has only grown,” Wajngarten said.
The former president denied any wrongdoing during questioning in May 2023.
Gleisi Hoffmann, chairwoman of the Workers’ Party, whose candidate defeated Bolsonaro, celebrated his indictment on social media. She said she hopes the former president stands trial in many other cases, including for his alleged attempt to sneak $3 million in diamond jewelry into the country and the sale of two luxury watches he received as gifts from Saudi Arabia while in office.
“He has lied until this day about his nefarious administration, but now he will have to face the truth in the courts. The federal police’s indictment sent to prosecutors is just the first of several,” Hoffmann said. “What is up now, Big Coward? Are you going to face this or run away to Miami?”
Brazil’s Supreme Court has already seized Bolsonaro’s passport.
Police accuse Bolsonaro and his aides of tampering with the health ministry’s database shortly before he traveled to the US in December 2022, two months after he lost his reelection bid to Luiz Inácio Lula da Silva.
Bolsonaro needed a certificate of vaccination to enter the US, where he remained for the final days of his term and the first months of Lula’s term. The former president has repeatedly said he has never taken a Covid-19 vaccine.
If convicted for falsifying health data, the 68-year-old politician could spend up to 12 years behind bars or as little as two years, according to legal analyst Zilan Costa. The maximum jail time for a charge of criminal association is four years, he said.
“What Bolsonaro will argue in
US officials maintain there is bipartisan support for the package, but a number of Republicans oppose it, and House Speaker Mike Johnson has refused to bring the bill to the House floor for a vote.
Funding to train Ukrainian forces is also at risk. The US Army regional command for Europe and Africa, which is based in Germany, has spent more than $500 million out of its base budget so far this fiscal year to conduct the training and expects to run out of money by June, according to US officials.
this case is whether he did insert the data or enable others to do it, or not. And that is plain and simple: Either you have the evidence or you don’t. It is a very serious crime with a very harsh sentence for those convicted,” Costa told The Associated Press.
Shor also said he is awaiting information from the US Justice Department to “clarify whether those under investigation did make use of the false vaccination certificates upon their arrival and stay in American territory.”
If so, further charges could be leveled against Bolsonaro, Shor wrote without specifying in which country.
The indictment sheds new light on a Senate committee inquiry that ended in October 2021 with a recommendation for nine criminal charges against Bolsonaro alleging that he mismanaged the pandemic. Then prosecutor-general Augusto Aras, who was widely seen as a Bolsonaro ally, declined to move the case forward.
Brazilian media reported that Aras’ successor, Paulo Gonet, was scheduled to meet lawmakers later Tuesday to discuss the possibility of filing charges.
Bolsonaro retains staunch allegiance among his political base, as shown by an outpouring of support last month, when an estimated 185,000 people clogged Sao Paulo’s main boulevard to decry what they—and the former president—characterize as political persecution.
The indictment will not turn off his backers and will only confirm his detractors’ suspicions, said Carlos Melo, a political science professor at Insper University in Sao Paulo.
“It is definitely worse for him in courts,” Melo said. “He could be entering a trend of convictions, and then arrest.”
Brazil’s top electoral court has already ruled Bolsonaro ineligible to run for office until 2030, on the grounds that he abused his power during the 2022 campaign and cast unfounded doubts on the country’s electronic voting system.
The command spent about $2 billion for training in the fiscal year that ended last Sept. 30, which was paid for through supplemental funding passed by Congress. The US has trained about 19,000 Ukrainian forces to date, the bulk of them at the Army bases in Germany. All together, the international coalition has trained more than 129,000 Ukrainians at more than 100 different locations around the world.
Training has slowed a bit, as the US is waiting for the next large tranche of Ukrainian troops to arrive. Scheduling can be difficult because Ukraine often has to pull troops from the battlefront to send them for training.
US officials have been publicly expressing the hope that lawmakers will manage to act soon to approve the supplemental bill, but they have also been struggling to find other ways to get assistance to Ukraine.
Defense officials continue to warn that Ukraine remains heavily outgunned by Russia on the battlefield, and note persistent reports of Ukrainian troops rationing or running out of ammunition on the front lines.
Just last month, Ukrainian troops withdrew from the eastern city of Avdiivka, where outnum-
bered defenders had held off a Russian assault for four months.
Troops complained of running low on ammunition while facing a constant barrage of airstrikes from glide bombs, enormous unguided Soviet-era weapons, retrofitted with a navigational targeting system, that obliterate everything around them, as well as motion-sensing explosive drones that could enter buildings and hunt personnel.
Tuesday marks the 20th meeting of the Ukraine Defense Contact Group, which has been the key organization coordinating for the delivery of weapons and other aid to Ukraine.
In his opening remarks, Austin said Russia has paid a “staggering cost” for the war, repeating estimates that at least 315,000 Russian troops have been killed or wounded in the war, which has cost Moscow up to $211 billion.
“Ukraine’s troops face harsh conditions and hard fighting. And Ukraine’s civilians endure a constant barrage of Russian missiles and Iranian drones,” said Austin. “But Ukraine won’t back down. And neither will the United States.”
The Associated Press writer Kirsten Grieshaber in Berlin, Germany, contributed to this report.
Trump pleads for immunity in Supreme Court showdown over election conspiracy charges
By Eric Tucker The Associated Press
WASHINGTON—Lawyers for Donald Trump urged the US Supreme Court on Tuesday to dismiss an indictment charging the former president with conspiring to overturn the results of the 2020 election, renewing their arguments that he is immune from prosecution for official acts taken in the White House.
Lower courts have already twice rejected the immunity claims, but Trump’s lawyers will get a fresh chance to press their case before the Supreme Court when the justices hear arguments on April 25. The high court’s decision to consider the matter has left the criminal case on hold pending the outcome of the appeal, making it unclear whether special counsel Jack Smith will be able to put the ex-president on trial before November’s election.
In a brief filed Tuesday, Trump’s lawyers repeated many of the same arguments that judges have already turned aside, asserting that a president “cannot function, and the Presidency itself cannot retain its vital independence, if the President faces criminal prosecution for official acts once he leaves office.”
“A denial of criminal immunity would incapacitate every future President with de facto blackmail and extortion while in office, and condemn him to years of post-office trauma at the hands of political opponents,” the lawyers wrote. “The threat of future prosecution and imprisonment would become a political cudgel to influence the most sensitive and controversial Presidential decisions, taking away the strength, authority, and decisiveness of the Presidency.”
Smith’s team has said ex-presidents do not enjoy absolute immunity and that, in any event, the steps Trump is accused of taking in his failed but frantic effort to remain in power after he lost to Democrat Joe Biden would not count as official presidential acts.
US District Judge Tanya Chutkan, who is presiding over the case, and a three-judge federal appeals panel in Washington have both agreed with Smith, but the case—once scheduled for trial on March 4—has been effectively frozen for months as the appeal continues to wind through the courts.
Trump’s lawyers also told the justices that in the event they don’t accept the immunity arguments, they should send the case back to Chutkan for additional “fact-finding.” Such a move would result in even lengthier delays before a trial could be scheduled.
Trump’s position was supported in separate briefs filed Tuesday with the Supreme Court, including one from 18 Republican-led states.
The case is one of four state and federal criminal prosecutions that Trump is facing as he seeks to reclaim the White House. He and his lawyers have sought to delay the cases from proceeding to trial, a strategy that to date has yielded some success for the ex-president.
Of those four, only one—a case in New York charging Trump in connection with hush money payments meant to suppress claims of an extramarital sexual encounter—is on track to start in the next several months. The judge in that case delayed the trial last week until at least mid-April as he seeks answers about a last-minute evidence dump that the former president’s lawyers said has hampered their ability to prepare their defense.
www.businessmirror.com.ph BusinessMirror Thursday, March 21, 2024 A17
fail. And the free world will not let Ukraine fail.”
US Defense Secretary Lloyd Austin, left, flanked by Ukrainian Defense Minister Rustem Umerov, speaks at the beginning of the meeting of the ‘Ukraine Defense Contact Group’ at Ramstein Air Base in Ramstein, Germany on Tuesday, March 19, 2024. Austin vowed Tuesday that the US will continue to support Ukraine’s war effort against Russia, even as the US Congress remains stalled over funding to send additional weapons to the front. AP/MICHAEL
PROBST
BRAZIL’S former President Jair Bolsonaro speaks at the launch of the pre-candidacy of Alexandre Ramagem, center right, for the Rio de Janeiro’s mayoral elections in Rio de Janeiro, Brazil on Saturday, March 16, 2024. AP/SILVIA IZQUIERDO
REPUBLICAN presidential candidate former President Donald Trump and former first lady Melania Trump arrive to vote in the Florida primary election in Palm Beach, Fla., on March 19, 2024. AP/WILFREDO LEE
editorial
The Philippines’ path to economic growth
PRESIDENT Marcos declared that the Philippines has entered “a new era for investments” during his keynote address on Tuesday at the World Economic Forum (WEF) Country Roundtable on the Philippines. With economic liberalization policies already in place, the President emphasized the government’s focus on attracting foreign investments and fostering a favorable business environment for both local and international companies. (Read the BusinessMirror story: “PHL has entered ‘new era for investments,’ Marcos tells WEF,” March 19, 2024).
endorsement, the MIF failed to generate much interest at the WEF event. The government should critically assess the reasons behind this lack of enthusiasm and address any concerns potential investors may have. Clear communication and targeted marketing efforts to potential stakeholders are essential to ensure that the MIF’s objectives are effectively conveyed, thereby attracting the necessar y equity financing from abroad. Additionally, the government should consider engaging with experts and organizations experienced in attracting foreign investments to provide guidance and support for the MIF.
To achieve the ambitious goal of becoming a $2-trillion economy within the next decade, as suggested by WEF President Borge Brende, sustained reforms are crucial. The Philippines, currently the fastest-growing economy in the region alongside Vietnam, has garnered global interest due to its competent workforce and the paradigm shift towards a knowledge-based economy. However, to fully harness the potential of the Filipino youth and increase productivity, investments in education and infrastructure must be prioritized. By creating an enabling environment for the intelligence economy, Brende said the government can drive continued economic growth and position the Philippines as a competitive player on the global stage. (Read the BusinessMirror story: “With reforms, PHL can be $2-Teconomy in next decade—WEF,” March 20, 2024)
In particular the renewable energy sector offers strong potential for investment and competitiveness. Falling prices and the opportunity for energy independence make the sector an attractive prospect. The government’s commitment to increasing the share of renewable energy in the countr y’s energy mix to 35 percent by 2030 and 50 percent by 2040 demonstrates a for ward-thinking approach However in order to fully unlock the benefits of renewable energy, policies must continue to evolve. Special attention should be given to ensuring ease of doing business, streamlining regulator y processes, and facilitating foreign ownership of renewable energy projects.
To sustain the momentum of economic expansion, it would do well for the government to prioritize the resolution of challenges that hinder investment opportunities. Policymakers need to scrutinize and refine policies to enhance the countr y’s attractiveness as an investment destination.
By diversifying supply chains and capitalizing on untapped sectors like manufacturing and renewable energy, the Philippines can position itself alongside other regional powerhouses. Collaboration with industr y experts, continuous dialogue with potential investors, and proactive engagement with international organizations will be instrumental in fine-tuning policies and fostering a conducive environment for investments.
W hile the President’s call to join this exciting new phase of economic growth is commendable, actions must follow words. The government should work in close collaboration with the economic team to address concerns, promote investment opportunities, and ensure the success of initiatives like the MIF. By doing so, the countr y can truly embrace its position as an emerging economic force, delivering sustained growth and prosperity for its people while attracting international stakeholders to contribute to its transformative journey.
Biden’s blunder: Marcos’ maneuver
‘RJohn Mangun
OUTSIDE THE BOX
USSIA, China, and the US are the only true superpowers and the only three countries that ultimately matter in geopolitics. That’s not a slight against any other power. But all others are secondary powers (the UK, France, Germany, Japan, Israel, etc) or tertiary powers (Iran, Turkey, India, Pakistan, Saudi Arabia, etc). One of the keys to US foreign policy in the last 50 or 60 years has been to make sure that Russia and China never form an alliance. Keeping them separated was key”: American lawyer, economist, and investment banker James G. Rickards.
To an observer in the US or Europe, the Philippines coming back to a closer relationship with the US might seem surprising in light of the fact that the US has lost much credibility and global clout in the past four years, what with the war in Ukraine and now in the Middle East. Perhaps the Marcos administration is hoping that the US may believe that it needs the Philippines and is willing to “pay” for the “friendship.”
of t he sitt i ng Ru ssi an president to teac h
new elector al tec h n iques. About the same time, US imports of Chinese goods star ted increasing exponent i ally, doubl i ng i n value from 1996 to 2000 and doubling aga i n between 2000 and 2004. Geopolitics was centered on the US reaction in the Middle East and Afghanistan to the 9/11 attacks. T he Big T hree were in measured harmony w ith the US as the strongest of the troika. T he 2008 Global Debt C ri si s brought t he f i nanc i al system to its knees but w ith the US hav ing the ability to spend and bailout as necessar y. With the “Pivot to Asia”
Bond traders step up short bets on fear the Fed will dash rate-cut hopes
BW
were
forecasts showed
in three
“The bond market is bracing for a hawkish Fed message Wednesday,” Bryce Doty, senior
Traders have since reassessed the outlook and are expecting roughly three rate reductions in 2024, putting them in line with the Fed’s so-called dot-plot forecasts from December. But there’s a possibility the latest release will show policymakers expect even fewer cuts, potentially triggering another round of selling.
widespread, however and there remain some signs of bullishness in the Treasury market. JPMorgan Chase & Co.’s latest client survey, for example, showed that while short bets have increased, outright long positions have risen as well and now stand at the biggest since Januar y 29. But on Monday, two-year Treasur y yields hit the highest levels of the year rising to as much as 4.75 percent, though they dropped slightly on Tuesday. Bank of America Cor p.’s head of interest-rate strategy, Mark Cabana, Tuesday estimated that the two-year yield would rise another 10 basis points if the Fed’s new dot-plot shows just two cuts this year The options market has shown investors positioning for such risks.
On Monday, there was a big increase in open interest in two-year note futures, consistent with new short
of the Obama administration, the Philippines saw an oppor tunity to strengthen its ties w ith the US. President Aquino played a crucial role in establishing the “US-Philippine Society” in Ju ly 2012, just three months after the challeng ing “Scarborough Shoal standoff.” T he last time the Board of the US-Philippine Society met was in Januar y 2013 US-China relations have been on a downtrend since the Pivot.” Also during the Obama administration in 2014, the US “encouraged” the Maidan Revolution, which ousted du ly elected Uk raine President Viktor Yanukovych who wanted closer ties w ith Russia. Crimea saw intense demonstrations against the removal of Yanukovych T hese protests cu lminated in Russian forces occupying Crimea.
Over the course of less than four yea r s—2010-2014—t he US h ad alienated both Russia and China. T he adage “t he enemy of my enemy is my f riend” dates at least as fa r back to t he 4t h cent ur y BCE, att ributed to Kaut i lya, t he Hindu sc hola r who prov ided foreign policy adv ice to C h and rag upta, t he fou nder of t he Maur ya Empire in anc ient Ind i a.
See “Mangun,” A
positions being set, as well as a large purchase of five-year note options anticipating the cash yield will rise to 4.45 percent by Friday. It was around 4.3 percent Tuesday. Traders have also been targeting protection against a hawkish shift with options linked to the Secured Over night Financing Rate, which closely tracks t he central bank’s policy path Further out on the cur ve in Treasur y options, there’s also been activity hedging for higher yields.
New shorts, longs unwound
Open interest data over the past week has shown a heavy amount of new short positions added in 10-year note futures, particularly on March 13, when around $3 million per basis point in risk was added. The day before a large amount of long positions appeared to be liquidated into the selloff in the futures. Overall net change in open interest on 10-year note futures last week was roughly +43,000 contracts.
Out of cash neutrals
JPMorgan’s latest sur vey of Treasur y clients released Tuesday is more mixed. It shows neutral positions dropping as both long and short positions rose in the week up to March 18. Moreover the outright long posiSee “Bond,” A
www.news.businessmirror@gmail.com Thursday, March 21, 2024 Editor: Angel R. Calso Opinion BusinessMirror A18
President’s vision for robust economic expansion is promising, it is crucial to address the challenges hindering the success of initiatives like the Maharlika Investment Fund (MIF) and ensure the continuity of reforms for longterm growth Marcos highlighted the significant economic growth and mass infrastructure projects in the countr y, underscoring the Philippines’ potential as an attractive investment destination. By welcoming international firms to invest in a wider range of sectors, encouraging joint ventures with local companies, and allowing full ownership of domestic enter prises and select renewable energy projects, the government aims to galvanize a beneficial investment boom. These measures align with the global trend of increased investment appetite, as participants at the WEF roundtable expressed interest in the Philippines due to its stable fiscal and monetar y policies. However, despite the President’s
W hile the
By Edward Bolingbroke & Elizabeth Stanton
OND traders are stepping up short bets against Treasuries and buying derivatives to protect against a selloff, positioning for the risk that the Federal Reserve will dial back the market’s expectations for interest-rate cuts this year.
Histor y will not look kindly on the current US presidential administration. In 1972, US President R ichard Ni xon pivoted to China to put pressure on Russia. In 1991, the US pivoted to Russia to put pressure on China after the Tiananmen Square massacre. During the subsequent 30 years, the US walked a tight line between the other two super powers subtly tr y ing to play one off against the other at different occasions. Prior to its downfall, t he US s u ppo r ted M i k h a i l Go r bac h ev as t he USSR u n r aveled. T he US event u ally welcomed t he fall of t he Sov iet Un ion whi le i nter feri ng, as i s its nat ure, to suppor t t he “democ r acy” of t he President of t he Ru ssi an Feder at ion” Bori s Yelts i n. In 1996, US pres ident, Bi ll Cl i nton, comm itted hi mself to Yeltsi n’s president i al campa ign. American adv i sors were sent, on inst ruct ion f rom t he W hite House, to joi n t he campa ign team
cent
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will show increased reticence to ease monetar y policy. The December
policymakers
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quarter-point cuts in 2024, but since then the economy has continued to exhibit sur prising strength and inflation has held above the Fed’s target.
portfolio manager at Sit Investment Associates, said in a note to clients. Bond yields have risen this year, saddling investors with fresh losses, as expectations faded that the Fed would ease policy shar ply. In late December futures traders were pricing in virtual certainty the central bank would start cutting rates by Wednesday’s meeting and make a total of about six such moves by the year’s end. Traders have since reassessed the outlook and are expecting roughly three rate reductions in 2024, putting them in line with the Fed’s socalled dot-plot forecasts from December But there’s a possibility the latest release will show policymakers expect even fewer cuts, potentially triggering another round of selling. Tom Simons, a senior economist with Jefferies, said he expects the median policymakers’ forecast will peg the benchmark rate at about 4.88 percent by the end of the year, implying just two quarter-point cuts. He said that would address some of the easing of financial conditions this year evidenced by the rally in the stock market. “If the Fed were to keep rate forecasts unchanged, they would risk another renewed push to even easier financial conditions that would work against their effort to get inflation back down to 2 percent,” he said in a note to clients. Speculation that rates will come down later this year continues to be BusinessMirror A broader look at today’s business Publisher Editor in Chief Associate Editor News Editor Senior Editors Online Editor Creative Director Chief Photographer Chairman of the Board President Advertising Sales Manager Group Circulation Manager T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso 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@gmail.com www.news.businessmirror@gmail.com Printed by BROWN MADONNA Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila Ambassador Antonio L. Cabangon Chua Founder
2005 MEMBER OF
Since
China, Australia face tricky diplomatic road after trade row
By Ben Westcott and James Mayger
THE likely lifting of the final major tariffs on Australian products by China in coming weeks will conclude a bitter threeyear trade war. That alone is unlikely to usher in a new era in relations between the two countries.
trip to Australia in seven years to meet with his counter part Penny Wong in Canberra on Wednesday is the latest sign of a tentative improvement in ties. During his trip, Wang will attend the Australia-China Foreign and Strategic Dialogue, which was postponed for years during a diplomatic deep freeze. Speaking at the start of her meeting with Wang on Wednesday, Australia’s Foreign Minister Wong said it was important that communication “never be withheld as a punishment or offered as a reward.”
“As you know, dialogue enables us to manage our differences; we both know it does not eliminate them. Australia will always be Australia and China will always be China,” she said.
Wang’s visit comes just over a week after China announced it was considering lifting trade tariffs as high as 218 percent on Australian wine, removing the last major sanction imposed after relations frayed in 2020. But even as the economic disputes ease, some experts caution the overall relationship still faces headwinds from persistent political differences and increased competition between China and Australia’s principal ally, the US.
“They’ve tried to take the ver y obvious, in-your-face economic disputes off the table, but that doesn’t mean the two sides have kissed and made up in any fundamental sense,” said R ichard McGregor Senior Fellow for East Asia at the Lowy Institute think tank. Australia and China have rapidly improved their diplomatic relations since the election of the center-left Labor government in May 2022, including the restoration of high-level official meetings and the lifting of trade sanctions imposed by Beijing at the height of tensions.
In October, China released Australian jour nalist Cheng Lei after detaining her for three years, which was followed shor tly after ward by a v isit to Beijing by Prime Minister Anthony Albanese—the f irst by a sitting Australian leader in seven years.
A Beijing court’s decision to hand Australian writer Yang Heng jun a suspended death sentence in February, however, took the government in Canberra by sur prise, casting fresh doubts over the relationship.
Since then, the list of disputes between Beijing and Canberra hasn’t shru nk. Am id g row i ng tensions in the South China Sea, where the C hinese gover nment cla ims vast
Mangun . . . continued from A
Wang’s visit comes just over a week after China announced it was considering lifting trade tariffs as high as 218 percent on Australian wine, removing the last major sanction imposed after relations frayed in 2020. But even as the economic disputes ease, some experts caution the overall relationship still faces headwinds from persistent political differences and increased competition between China and Australia’s principal ally, the US.
swathes of territory, Australia signed a memorandum of understanding on maritime security with the Philippines. President Ferdinand Marcos Jr delivered a defiant speech to the Australian parliament, where he said he would not cede “one square inch ” of territor y.
Afte r Au st r al i a and V ietnam deepened their ties by agreeing to a compre hensive st r ateg ic pa r tnership, China’s Foreign Ministr y spokesman Wang Wenbin warned against building “exclusive circles.”
Australia’s ambassador to Vietnam And rew Goledzi nowsk i made an unusually public rebuttal, saying on his official social media account that China was over-reacting.
“Vietnam has always valued selfreliance. If strengthening ties with Australia contributes to that why shou ld anot her cou nt r y object?” he said.
Some experts are urging Australia and China to keep the focus on improving relations. Former Australian diplomat Jocelyn Chey said despite the political differences, the two countries’ economies were “deeply complementar y.”
“Certainly, on Australia’s side, we really can’t do without China,” said Chey, now a visiting professor at the University of Sydney. “You have to rebuild trust and the only way you can rebuild trust is by working together.”
But McGregor warned that there were many “geopolitical trapdoors” that both sides could fall into over coming years. W hile China and Australia had agreed to put aside their differences for the moment and focus on what they could agree on, he said, the shared agenda going for ward is still pretty narrow.”
“The big question is how China behaves and whether they can develop a modus vivendi with the US,” McGregor said. With assistance from Michael Heath /Bloomberg
l to the extent that Chinese investment never materialized either because of poor economic cond itions in the PRC or because the Chinese gover nment was being duplicitous.
To an obser ver in the US or Europe, the Philippines coming back to a closer relationship w ith the US might seem sur prising in light of the fact that the US has lost much credibility and global clout in the past four years, what w ith the war in Ukraine and now in the Middle East. Perhaps the Marcos administration is hoping that the US may believe that it needs the Phi lippines and is w illing to “pay” for the “friendship.”
T his foreign policy maneuver by Marcos is def initely par t of 2024: T he Year Of Uncer tainty.
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.
Marcos warns on China threat, says he’s not ‘poking the bear’
By Cliff Venzon
PHILIPPINE President Ferdinand Marcos Jr. said the threat to his nation from China’s sweeping claims in the South China Sea is growing but argued that his government’s efforts to assert sovereignty over disputed areas aren’t meant to start a conflict by “poking the bear.”
“We are tr ying to keep things on an even keel,” Marcos said Tuesday in an inter v iew w it h Bloomberg Television’s Haslinda Amin at the presidential palace in Manila. The challenge, he added, is that “since the threat has grown, we must do more to defend our territor y.”
Along with Taiwan, the standoff between the Philippines and China over a series of contested reefs and islands has become a critical flashpoint in the region. Since Marcos took office in 2022, the Philippine militar y and coast guard have ramped up operations to supply troops at a remote outpost and escort fishermen he says have relied on the waters “for generations.”
That stance has sparked condemnation from Beijing, whose armada of fishing boats and coast g uard vessels have often blocked Philippine ships and even collided with them, raising the risk of a conflict with China that could quickly draw in the US.
“We have not instigated any kind of conflict. We have not instigated any kind of confrontation,” Marcos, 66, said of his government’s policies. “We are just tr ying to feed our people.”
But, he added, “China has taken some ver y aggressive actions against our coast guard.”
During a trip to deliver supplies to its outpost on the Second Thomas Shoal this month Manila said four Filipino sailors were injured after two C hinese coast g u ard vessels blasted water cannons at their chartered boat.
Reversing the policies of his predecessor, former President Rodrigo Duterte, Marcos has tightened ties with the US militar y, giving it greater access to Philippine bases and resuming joint sea patrols. In return, Washington has strongly backed the Philippines when it comes to its efforts in the South China Sea. The Marcos inter view came on the same day US Secretar y of State Antony Blinken was visiting Manila. A head of a meeting with Marcos, Blinken criticized what he called Beijing’s “provocative” actions.
Marcos has also strengthened ties with other US allies. The Philippines upgraded relations with Australia last year signed defense pacts with the UK and Canada and is negotiating a deal for mutual militar y visits with Japan.
Marcos said his nation can’t accept China’s vast claims, which Beijing bases on a 1947 map that shows a vague “nine-dash line” sweeping over most of the South China Sea. A United Nations tribunal in 2016 ruled against Beijing’s claims, a ver-
Reversing the policies of his predecessor, former President Rodrigo Duterte, Marcos has tightened ties with the US military, giving it greater access to Philippine bases and resuming joint sea patrols. In return, Washington has strongly backed the Philippines when it comes to its efforts in the South China Sea.
dict X i Jinping’s government has rejected.
Despite the standoff, Marcos emphasized that he’s kept talks w ith Beijing going and that he doesn’t want to be in the position of invok ing a mutual defense treaty the Philippines has had w ith the US for decades.
Asked what might provoke him to utilize that defense accord, Marcos said the Philippines would have to be facing an “existential threat.”
“I hope the time never comes that we have to answer that question,” he said. “W hen you talk about the mutual defense treaty, to invoke that, actual outright violent conflict, then this is a ver y, ver y dangerous, ver y, ver y slipper y road to go down.”
Below are some excer pts from the inter view on other topics:
On the economy:
“Inflation is still our biggest problem,” Marcos said. Asked whether he sees more room to cut borrowing costs at the highest level since May 2007, he added: “We’re not yet there.”
On charges he’ll change the constitution to prolong his term:
“That’s incorrect. The proposals for the amendments to the constitu-
tion are solely concerned with economic provisions, things like ownership of corporations...So the political structure of the Philippines, there’s no proposal to change that. I’m not quite sure where it came from, but it’s being used as a stick to beat this issue over our heads.”
Key challenges and geopolitical shocks:
“Climate change is another big part of the challenges that we face. Geopolitical instability, certainly, because no matter what we do here in the Philippines, we are still subject to shocks that come down the pike that we have ver y little control over ver y little influence over and sometimes did not forecast.”
“W hen the Russians first entered Ukraine, the initial reaction was that, ‘Well, it’s ver y far away, it’s Eastern Europe, it shouldn’t affect us.’ Within a month we felt the effects. We import wheat from both countries, we impor t ag ric u lt ural commod it ies from both countries. So all of these things we need to recognize now.”
On the impact of a potential second Donald Trump presidency:
Marcos said that a second Trump presidency, if it occurs, would usher in “some changes, undoubtedly,” but didn’t think the relationship would fundamentally change, given that the two countries are treaty allies.
“As long as we stay true to the agreements of those treaties that we have had, I think the foreign policy will maintain a balance and there won’t be any radical changes, radical moves.” With assistance from Alex Chandler, Manolo Serapio Jr. and Philip J. Heijmans /Bloomberg
Singapore scores early win in race for Chinese tourist dollars
By Yihui Xie
WHILE most of the world is still awaiting the return of deeppocketed Chinese tourists, tiny Singapore is a global exception.
More than 327,000 people arrived in Singapore from China in February, about 96 percent of the level seen in 2019, according to data released by Singapore Tourism Board last week. The number is expected to surge in the months ahead, with scheduled departure seats in the first quarter already at 101 percent of 2019 levels, data from Cirium shows.
T he recover y has outpaced gains in neighboring markets, w ith T hailand seeing tourism at around 63 percent of pre-pandemic levels in Februar y and Indonesia at about 48 percent in the latest quar ter In Europe, projected v isitors from China are expected to be about 40 percent lower than in 2019, while the US National Travel and Tourism Off ice is projecting total 2024 arrivals at roughly 73 percent of pre-Cov id levels due in par t to geopolitical tensions.
Singapore’s decision to drop v isa requirements for v isitors from China, its focus on safety and a push into unique cu ltural and enter tainment events positioned it to benef it as the world’s second most popu lous cou nt r y reopened after yea rs of g rueling Cov id controls. T he moves came together over the Lunar New Year holiday, when many travelers flocked to v isit family and friends who had relocated to the city-state in recent years. For Madam Zhuo, a native of X ia-
Bond . . . continued from A
tions are now the biggest since Januar y 29.
Bearish skew extends Into last week’s back-up
men who was visiting her daughter and 10-year-old grandson, comfort is part of Singapore’s allure. The city where her family moved a year ago is much more accessible than other countries, she said, with more than 70 percent of residents being ethnic Chinese.
“Singapore is ver y urban, ver y clean, ver y expensive,” Zhuo said while walking through Merlion Park, home to the eponymous statue and a prime beneficiar y of the travel boom. “Sometimes it feels like China. I can get around in Mandarin and Hokkien.”
Big spenders
CHINESE tourists are also spending more, despite the slugg ish economy and weak consumer sentiment at home. Data from Trip.com shows the average outlay per v isit to Singapore for expenses like flights and hotels rose 30 percent from a year earlier “T his is a good indication of increased interest from Chinese travelers in v isiting Singapore follow ing the implementation of mutual v isafree travel,” said Edmund Ong, the general manager of Trip.com Singapore. “Not only are v isitor numbers going up, the average expenditure per traveler is also rising.”
Singapore is also rolling out activ ities for more wester nized Chinese young adu lts. Yu Pei x in, a 20-year-old student
from Shanghai University of Science and Technology, flew to the city to catch Taylor Sw ift’s last show in Asia. She forked out more than 4,000 yuan ($556.06) for her flights, about tw ice the usual price. “It’s all wor th it,” she said. Travelers like Yu show that the gover nment’s exclusive deal w ith the concert promoter paid off. Swift’s popularity, and the lack of shows elsewhere, sparked an influ x of foreign visitors that prompted economists to raise their forecasts for the countr y’s economic performance.
Flying direct BOTH Yu and Z huo took d irect flights, which are avai lable dai ly from their00 cities. Economic headw inds in China and more expensive fares haven’t deterred demand for travel to Singapore. W hi le a ir l inks to most pa r ts of t he world f rom C hina were d isrupted by Cov id and are st i ll largely m issing, C hina and Singapore rema in well connected. T he sc hedu led seat capac ity between t he two cou nt ries is expected to recover to 101 percent of 2019 level in t he f irst quar ter of this year leading recover y among key C hina outbou nd t ravel ma rkets.
“T he Singapore-C hina ma rket advantage is that it is quite well diversif ied,” said Lim Ching K iat, executive v ice president, air hub and cargo development at Chang i A ir port. On top of business and gover nment travel, many people cross the border for family v isits, he said.
Safety rules
THE conse r vat ive gove r nment’s
focus on safety is also helping rev ive post-Cov id travel, par ticu larly among rising reports of hostility toward people of Chinese and Asian descent in other par ts of the world. Singapore remains a top draw for C hi nese t r avele r s w ho cons ide r crime one of their main concer ns. Reg ional competitor T hailand suffered reputat ional damage after recent safety incidents.
“Si ngapore i s always seen as a t ru sted and rel i able pa r tner of t he C hi nese gover nment and t he C hi nese people,” sa id C hi n-Hao Hu ang, assoc i ate professor of pol it ical sc ience at NUS Lee Ku an Yew Sc hool of Publ ic Pol icy and Yale-NUS College.
T hose st rong t ies a re pa r t ic ula rly impor tant am id rising geopol it ical tensions, as t he US and C hi na—t he world’s two biggest econom i c s u pe r powe r s—s qu a re off over ever yt hing f rom t rade to m i l ita r y m ight.
T he congenial bilateral relations between China and Singapore have trickled down to cross-cu ltural interactions in daily life, mak ing the city more comfor table and alluring for v isitors. Singapore is one of the few countries where China is v iewed positively, according to a Pew Research Center repor t. T he feeling i s rec iprocal, somet hi ng Hu ang attributes to two nations’ strong cu ltural ties.
Z huo’s experience ec hoes t he histor y.
“I walked around the city myself,” she said, after dropping off her grandson. “People are ver y friendly.” With assistance from Danny Lee, Pathom Sangwongwanich and Ocean Hou / Bloomberg
With assistance from Liz Capo McCormick /Bloomberg
Thursday, March 21, 2024 Opinion A19 BusinessMirror
www.news.businessmirror@gmail.com
Unfor tunately, the US lost sight of this basic ru le of inter national relations. It is now Russia and China that have for med a strong alliance, to the disadvantage of the United States. T here is w idespread knowledge that China has a g rand strategy, which w ith the ongoing oppor tunities presented by the Biden presidency, aims to secure its own dominance on the global stage. T he Obama adm i n i st r at ion’s Pivot” did not y ield success for either the US or the Philippines. China maintained its economic hold on the US through expor ts w ithout reciprocating in trade, while the Philippines failed to achieve its objectives of mitigating Chinese expansion in the South China Sea, par ticu larly concer ning its “Exclusive Economic Zone.” T he Duter te administration attempted to pivot the Philippines out from under the heavy hand of the US. T his also was unsuccessfu
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sur
options,
increased demand for protection on higher yields, with a recent stand-out trade including a weekly option targeting a rise in 5-year yields to 4.45 percent by Friday. Tuesday’s release of open interest data showed this position as new risk. Asset manager de-leveraging CFTC data in t he week up to March 12 showed roughly 183,000 10-year note futures-equivalents of asset manager net-long liquidation, continuing the recent de-leveraging trend out of Treasur y futures and potentially into credit. Asset manager net long positioning in Treasur y futures is now at its lowest since July, shown by 10-year note futures equivalents. SOFR options most active The largest three strikes which saw open interest ga ins benef itted f r om a la r ge SOFR J u n24 94.9 3 75/ 94.875/ 94.8125/ 94.75 put condor buyer over t he past week, a position which stands to benefit from rate-cut pricing coming out of the June policy meeting. There was also demand over t he past week for SOFR Ju n24 94.875/94.9375/95.00/95.0625 call condor’s. Largest liquidation was seen in the 95.50 strike, supported by last week’s strike adjustment within a SOFR Dec24 structure. SOFR options heat-map The most populated SOFR options strike out to the Dec24 tenor is the 95.50 strike, despite a heavy amount of liquidation seen over the past week. Within the 4.5 percent strike, a large amount of Jun24 puts remain. Other populated strikes include the 95.00, 95.25 and 94.875 where a decent amount of Jun24 puts open interest also remains.
in Trea-
y yields, the cost of
a bigger selloff rose to the most expensive since the end of Februar y in long-bond futures. In Trea-
y
flows have reflected
By Malou Talosig-Bartolome @maloutalosig
CYBERSECURITY firm has discovered that at least two legitimate software— PDF-editor and an anti-virus solution—contain malicious malware that could enable Chinese hackers to attack Philippine government websites.
Cyberint, an Israel-based leader in global threat intelligence which has clients in the Philippines, said they were able to trace cyberattacks from China increasing with the geopolitical tension in the South China Sea since August 2023.
The attackers come from Advanced Persistent Threat (APT) groups which Cyberint believes are state-sponsored and whose systems are very sophisticated.
”We have been identifying an increase in communication and attempts by APT groups being sourced from China who are targeting various Asia-Pacific [APAC] entities and countries, with particular focus on Philippine government agencies in the past years,” Gil Fromovitch, Cyberint vice president, told BUSINESSMIRROR
One of the attackers is identified as the Mustang Panda Group, which is one of the most active Chinese APT groups.
”The group is believed to be affiliated with the Chinese government and has been linked to a number of cyberespionage campaigns targeting government entities, nonprofits, and other organizations in North America, Europe and Asia,”a Cyberint confidential report obtained by BusinessMirror said.
The Cyberint said they were able to monitor three Mustang Panda cyber espionage campaigns directed against the Philippine government.
”The campaigns utilized legitimate software such as Solid PDF Creator and SmadavProtect, an Indonesian antivirus solution, to execute malicious files onto target systems,” the report said.
Fromovitch said the two software were downloaded from laptops or desktop computers.
He explained that the APT group
developed a cyber-attack campaign that would start from any individual who can download the malware-infected software.
“What they’ve done is they managed to put some kind of malicious code inside the PDF. When you download this utility, to just innocently open PDF files, what you actually have is a harmful code into your machine.
”Each individual who downloaded the software will have the malicious code on their endpoint, collecting and sending its content, to the Command and Control server. It's only a question of time until the malicious code will reach sensitive content, including files, personal and corporate credentials” he said.
”So if you download it, nothing happens. Butifthousandsofpeopledownloadit,eventually itwillreachthousandsofpeoplewhohaveaccess to power, access to sensitive data,”he said. The APT attack was also devised in “a clever approach of cloaking the malware’s command and control communications to mimic legitimate Microsoft traffic,”the report added.
For five days in August 2023, the Mustang Panda was able to “successfully infiltrate a government agency,” the Cyberint report said.
BUSINESSMIRROR asked the Chinese Embassy in Manila to comment on the report but it has not replied as of press time.
Earlier, the Chinese Embassy scored some Philippine government officials for "maliciously speculating" and "groundless accusing" China of engaging in cyber attacks against the Philippine government. Linking China and the events in the South China Sea to the cyberattacks on the Philippine government sites, it said, are "highly irresponsible."
"The Chinese government all along firmly opposes and cracks down on all forms of cyber attack in accordance with law, allows no country or individual to engage in cyber attack and other illegal activities on Chinese soil or using Chinese infrastructure," the Embassy said in a statement last month.
It said cybersecurity is a "global challenge that requires collective response from the international community."
THE Department of Migrant Workers (DMW) will roll out this week additional documentary requirements for shipowners and manning agencies to ensure their Filipino seafarers on board ships bound for the Gulf of Aden and the Red Sea, will be able to exercise their right to refuse (RTR) sailing.
hi ps, w hi c h h ave F i l i p ino c r ew membe r s, w i ll t r ave r se t h e G u lf of Aden and t h e Red Sea. “So, we want to collect in real time the accomplished for m of a seafarer who decided to refuse to sail upon know ing that [their] ship will pass through the Red Sea or Gulf of Aden,” Cacdac said in Filipino.
He sa id t he new protocol also includes a hotl ine for Fi l ipino seafa rers, who want to ava i l t hemselves of t he RTR, but a re unable or do not want to f i ll up t he necessa r y for m for it. T h e g ui del i nes, Cacdac sa i d, also a i ms to ens ur e RTR ava i lees w i ll not face any d i sc ri m i nat i on, r ep ri sal o r be blackl i sted by t h e ir s hi powne r s o r mann i ng agenc i es. DMW noted that shipowners and manning agencies that are unable to comply w it h t he new RTR requirements w i ll face sanct ions. As of Wednesday, Cacdac sa id t hey have yet to receive any repor t of Fi l ipino seafa rers, whose ships w i ll be passing t he Red Sea or t he
Gu lf of Aden.
Warlike areas
THE DMW off ic ial made t he announcement after the Inter national Ba rga ining Forum (IBF) sa id last Monday t hat it dec ided to elevate t he stat us of t he Gu lf of Aden and t he Red Sea f rom “ high-risk” to “wa rl i ke” a reas.
T hi s afte r Ho ut hi r ebels hijacked last yea r t he ship, Galaxy Leader and f ired a m issi le attack aga inst t he merc hant vessel True Conf idence ea rl ier t his mont h Among the hostaged crew of Galaxy Leader 17 were Filipino seafa rers, whi le two Fi l ipi nos d ied when True Confidence was attacked. Cacdac sa id t he MITC suppor t t he “wa rl i ke” classif icat ion of t he Gu lf of Aden and t he Red Sea since it w i ll compel more shipowners not to pass in t he sa id a reas.
“Seafa r e r s a r e not sold i e r s. T h ey a r e not navy off i ce r s, so t hey a re not prope r ly e quipped to engage t hemselves i n wa r -l i ke s it u at ions. T h at i s w h y we a r e ju st i nst it ut i ng t hese meas ures p r ec i sely to ope r at i onal i ze t h e ri g ht to ref u se sa i l i ng,” t he DMW off ic i al sa id.
T he MITC is pushing for t he deployment of onboa rd sec urity personnel and maritime security escort for ships, whic h w i ll pass t hrough t he Red Sea and Gu lf of Aden sea routes.
BALIKATAN EXERCISE The headquarters of the Philippine Marines in the coastal town of Burgos, Ilocos Norte, is seen in this recent photo. It is one of the sites for the 2024 RP-US Balikatan exercises, scheduled on April 22 to May 8. Around 16,000 military and support personnel from the American and Filipino militaries will be participating in this year’s “Balikatan” and 14 countries have committed to send military observers to observe the joint drills between the AFP and its US counterparts. Story in Nation, A4. JOEL C. PAREDES T HE Phi l ippi nes i s keen to increase econom ic and development cooperat ion w it h t he United States and Japan w it h t he f irst t ri lateral summ it among President Ferd inand R. Ma rcos Jr., US President Joseph Biden Jr and Japanese Pri me Mi n ister Fu m io K ishida next mont h Foreign Affa irs Sec reta r y Enrique Manalo sa id he relayed t his to US State Secreta r y Antony Bl inken who v isited Mani la Tuesday. Ma rcos, Biden and K ishida a re sc hedu led to hold t heir f irst t ri lateral summ it on Apri l 11. “We’d l i ke to foc us on spec if ic trilateral activ ities such as economic projects. It cou ld also be defense, ma rit ime, but more on econom ic projects,” Manalo told BusinessMirror in an inter v iew. Manalo sa id t he n itty-g ritty of t hese econom ic pro j ects w i ll be d i sc u ssed at t he tec h n ical level, but t he pol icy d irect ion on t he foc u s a reas of econom ic coope r at ion may be spelled out i n t he joi nt statement t h at w i ll be released at t he end of t he t ri late r al s u mm it. One of t he foc u s a reas t h at Manalo suggested are on infastruct ure and crit ical materials. Other areas of cooperation on defense, security, maritime and technological may also be explored, he added. “There are many possibilities but the important thing is to agree on what areas we can focus on,” said the country’s top diplomat. Malou Talosig-Bartolome By Cai U. Ordinario @caiordinario
ILLIONS of k ilograms worth of discarded mobile phones, solar panels and other electrical equipment has made the Philippines one of the largest producers of e-waste in Southeast Asia, according to the latest report released by the United Nations Institute for Training and Research (Unitar) and International Telecommunication Union (ITU). Based on the Global E-Waste Monitor 2024, Unitar said there were 537 million kilograms of e-waste in the Philippines, translating to 4.7 kilograms of e-waste per capita in 2022. E-waste consists of electrical and electronic equipment (EEE) which include items that have circuitr y or electrical components and a power or batter y supply. T he Philippines is second only to Indonesia, which had 1.886 billion k ilograms of e-waste and translated to 6.9 k ilograms of discarded electronic products per capita. In ter ms of per capita e-waste, the Philippines is 6th out of the 10 Asean countries, w ith Singapore hav ing the highest number of 20.3 kilograms per capita of e-waste. “Am idst t he hopef u l embrace of solar panels and electronic equipment to combat t he cl imate crisis and d rive d ig ital prog ress, t he surge in e-waste requires urgent attention,” Unitar Exec ut ive Director Ni k hi l Set h sa id. Based on Unitar data, there are si x classifications of EEEs—temperature exc h ange e quipment; sc reens and mon itors; lamps; la rge equipment; small equipment; and small IT and telecommunication equipment. “No more than one percent of demand for essential rare earth elements is met by e-waste recycling. Simply put: Business as usual can’t continue,” GEM lead author Kees Baldé said in a statement. “T his new repor t represents an i mmed i ate call for g reater i nvestment in inf rast ruct ure development, more promot ion of repa ir and reuse, capac ity bui ld ing, and measures to stop i llegal e-waste shipments. And t he investment wou ld pay for itself in spades,” he added. Globally, t he repor t sa id 62 m i ll ion tonnes of e-waste generated in 2022 wou ld f i ll 1.55 mi ll ion 40-tonne trucks, roughly enough trucks to for m a bu mper l ine enc ircl ing t he equ ator T h e r epo r t sa i d less t h an one qu a r ter or 22. 3 percent of t he yea r’s e-waste mass was doc u mented as hav ing been properly collected and recycled in 2022. T his leaves $62 bi ll ion wor t h of recoverable nat ural resources u naccou nted for and increasing pollut ion risks to commu nit ies worldw ide. “From d i sca rded telev i s ions to du mped telephones, an enor mou s amount of e-waste is generated around the world. The latest research shows that the global challenge posed by e-waste is only going to grow,” ITU Telecommunication Development Bureau Director Cosmas Luckyson Zavazava said. “With less than half of the world implementing and enforcing approaches to manage the problem, this raises the alar m for sound reg u lations to boost collection and recycling,” he also said. Based on the data, some 33 percent or 20.4 m i ll ion tonnes of e-waste a re made up of small dev ices suc h as toys, m icrowave ovens, vac uu m cleaners, and e-c iga rettes. Only 12 percent of t hese a re recycled. Per the report, 4.6 million tonnes of e-waste are in the small IT and telecommunication equipment categor y such as laptops, mobile phones, GPS devices, and routers. Only 22 percent of these have been documented to have collection and recycling rates. Further the data showed 2.4 million tonnes is the expected mass of retired photovoltaic panels in 2030, four times as much as the 600,000 tonnes in 2022. A20 Thursday, March 21, 2024 By Samuel P. Medenilla @sam_medenilla
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DMW firms up protection measures for PHL seafarers PHL among largest e-waste producers in SE Asia–report PHL focusing on economic projects for trilateral cooperation with US, Japan DOWNLOADING THIS SOFTWARE COULD ENABLE CYBER ATTACK In an onl ine press conference on Wednesday, DMW Off icer-inC ha rge Hans J. Cacdac sa id t hey w i ll r elease new i mplement i ng g uidelines, as approved by the Marit ime Indust r y Tripa r t ite Counc i l (MITC), for processing RTRs before t he end of t he week. T he g uidel i nes w i ll i nclude a new downloadable for m, w hic h concer ned seafa rers can f i ll up to t he ava i l of t he RTR. T he for m must t hen be subm itted to t he DMW v ia ema i l, to t he agency’s website or soc ial med ia pages. It w i ll also r e quir e s hi powne r s and t h e mann i ng agenc i es to s u bm i t pe ri od i c r epo r ts to DMW’s Ove r seas F i l i p i no Wo r ke r Mon ito ri ng System (OFWMS), i f t h e ir s
CACDAC
By
C
EBU Landmasters Inc. (CLI), a regional property developer, on Wednesday said it posted a 29-percent increase in consolidated net income to P4.64 billion from the previous year’s P3.6 billion on strong demand for its residential properties.hotel projects under way poised to drive future hotel revenue growth
The company said its gross leasable area expanded to 35,772 square meters from 28,411 square meters driven by newly completed projects.
For this year, the company has earmarked P14.5 billion for capital expenditure, some 12 percent higher than the previous year’s P12.9 billion, w ith a portion dedicated to land acquisition, particularly for its inaugural Luzon project.
“Our consistent growth fuels our vision to strengthen the company’s current offerings and expand beyond VisMin. This is also a testament to the resilience, hard work and dedication of our team,” CLI Chairman and CEO Jose Soberano III said.
CLI said it has new developments in the pipeline worth P27 billion, including expansion projects in various
regions, such as Butuan.
“The company’s strong financial per for mance, d iversif ied revenue streams, strategic expansion initiatives, and a robust pipeline of upcoming projects position the company for continued growth and success in the coming years.”
It is also in the middle of its public offering of its P3-billion preferred shares, with an additional P2-billion oversubscription option. The offer period is from March 19 to April 2.
The yield of the four-year series A-1 shares is at 7.585 percent while that of the seven-year Series A-2 is at 8.25 percent. The said shares are scheduled to be listed on the Philippine Stock Exchange’s main board on April 12.
ELLE Cor p. is buying the outstanding common shares of Premium Leisure Cor p. (PLC) that it does not own for P0.85 per share, a discount from its last traded price of P0.92 apiece. The company said it based the price from the fairness valuation report prepared by First Metro Investment Cor p. Belle will have to shell out some P5.3 billion for its tender offer which was set on March 22 to April 24. The payment and settlement of the shares to be tendered was set from April 25 to May 9, with BDO Securities Cor p. as Tender Offer Agent. The Philippine Stock Exchange rules on delisting requires that a party proposing the delisting of a listed company must show that it has acquired at least 95 percent of the outstanding capital stock of the listed company. “For this reason, Belle’s tender offer for the shares of PLC will be deemed withdrawn in the event that the required acquisition of at least 95 percent of PLC’s outstanding capital stock will not be secured,” the company said. Belle, which already owns 78.74 percent of PLC, has launched a mandator y tender offer on all of shares of Premium Leisure that it does not own. FMIC is the independent third party
PLC owns 100 pe rcent e quity i nvestment i n Prem iu m Le i s ure and Amu sement Inc., w hi c h i s a g r antee by Phi l i pp i ne Amu sement and Gam i ng Cor p. ( Pagcor) of ce r t i f i cate of aff i l i at ions and p r ov i s i onal l i cense to ope r ate i nteg r ated resor ts, i nclu d i ng cas i nos, i n t he v i c i n ity of Pagcor Ente r ta i nment C ity.
The license runs concurrent with Pagcor Cong ressional f r anc hi se, which expires in 2033 renewable for another 25 years by Congress.
hired to conduct the valuation study and issue a fairness opinion report.C
ITYSTATE Proper ties and Management Cor porat ion(CPMC) celebrates its 17th anniversar y, marking a remarkable journey of excellence and innovation in the real estate industr y. Established in March 2007 as the first real estate venture under the ALC Group of Compan ies, CPMC has consistently upheld its commitment to delivering exceptional wellness properties and top-notch amenities to its clients.
back to the visionar y leadership of its founder, Amb. Antonio L. Cabangon Chua, whose commitment to excellence and integrity remains the guiding force behind the company’s success. Over the years, CPMC has reached notable milestones, one of which is the development of Sandari Batulao, a premier wellness residence nestled in Nasugbu Batangas. This endeavor epitomizes CPMC’s unwavering dedication to fostering holistic wellness and promoting a lifestyle of fulfillment among its esteemed lot owners. Continuing its legacy of excellence, under the leadership of ALC Group Chairman D. Edgard A. Cabangon, along with CPMC’s executive officers Vice Chairman D. Rufina Cabangon-Chua, President D. Michelle Cabangon-Chua, Executive Vice President Maureen Azarcon, department managers and employees, CPMC proudly announces its newest venture, Sandari Calatagan, the next journey of CPMC. This venture aims to uplift seaside living by promoting holistic wellness. With a vision to deliver quality wellness properties, Sandari Calatagan will be launched this year as a reminder that owning wellness properties is an investment in both life and the future. CPMC prom ises to cont inue to bui ld and c reate proper t ies and st rengt hen bonds w it h its stakeholders. As it reflects on its achievements over t he past 17 yea rs, it extends hea r tfelt g rat it ude to its cl ients, pa r tners, and employees for t heir u nwavering suppor t. T he company looks for wa rd to many more yea r s of s u ccess, g rowt h and collaborat ive pa r tnerships as it cont inues to redef ine t he real estate landscape w it h excellence and innovat ion. THROWBACK to the mi estone moment: Cit ystate Proper ties and Management Corporation's groundbreaking for its newest development Sandari Calatagan in Brgy. Bagong Silang, Calatagan, Batangas. By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror
the Visayas and Mindanao. PLC said its income rose 85 percent to P2.32 billion last year from the previous year’s P1.56 billion due to “significantly enhanced mass and VIP operations at City of Dreams Manila.”
Revenues g rew 41 percent to P2.94 billion from the previous year’s P2.08 billion.
T he company also owns 50.10 percent controlling interest in Pacific Online Systems Cor p., which leases online betting equipment to the Philippine Charity Sweepstakes Office for their lotter y operations in
The company’s gaming revenue sh a re t hrough its wholly owned subsid ia r y Premium Leisure and Amusement jumped by 50 percent to P2.33 billion for the period from P1.56 billion in 2022.
Meanwhile, Pacific Online had a net income of P275 million in 2023, up by 44 percent higher from the previous year’s P191 million. VG Cabuag
HE return of business travelers has helped lift the revenues of Joy-Nostalg Hotel and Suites Manila, which is managed by AccorHotels, a leading international hospitality chain. W hile she declined to disclose the property’s operational figures, Joy-Nostalg general manager Odette Huang
told the BusinessMirror that 2023 “was a really ver y good year Suffice to say, we have surpassed 2019 levels, and we have generated revenues that have been one of the highest, if not the highest in the existence of the hotel.” The hotel is owned by Rebisco and Asia United Bank’s Jacinto Ng under his Quantuvis Resources Cor p. and opened in 2009 as Oakwood Premier Known as a ser viced apartment favored by long-stay i ng fore i gn expatriates, the pet-friendly property benefited from the return of regional travel. Businesses went into expansion mode, and “started reviving their business relationships. So business travel happened again. And more importantly, meetings were conducted aga in. People real i zed that face-to-face encounters are ver y important in this part of the world. People feel that there is a need to visit their offices in the region [and] speak to their staff.”She added that more companies also began sending new staff to the Philippines for longer stays, which accounts for 40 percent of the hotel’s market. “So we have the transient guests who are here for short business trips, and then the long-stay businesses, the one that keeps us afloat and in a sense, it doesn’t make us as volatile because it gives us a ver y good base business.”
However, Huang admitted it was still difficult to predict when the 229-room property will return to profitability due to events beyond their control. “We’re still working on the profitability because obviously, because of the pandemic, surge of prices, the pandemic, and now the wars. At the end of the day, we just have to be able to ensure that we are efficient in terms of our managing our expenses, efficient in terms of our operations, so that we will be able to achieve a healthy profit level.”
Sustainability ethos
WHILE most hotels in t he cou n-
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USINESSM RROR FILE PHOTO
t r y, espec i ally i n Met ro Man i la, h ave al ready ret ur ned to t heir prepandemic room rates and revenues, t he slow influ x in inter nat ional t ravelers h as kept most propert ies’ bottoml i ne f rom ret ur n i ng to black. (See, “International tourists vital to hotels’ full recovery,” in the BUSINESSMIROR July 21, 2023.)
T his where Accor’s susta inabi lity et hos comes i n, as sourc i ng local produce, for i nstance, also helps Joy-Nostalg manage its costs. “Going local is t he way to go,” she sa id, cit ing t he use of Bag uio strawberries in t he hotel’s desser ts, for instance. But more t h an t h at, being susta inable suppor ts t he commu n ity and t he env ironment, she u nderscored.
W hile the hotel industr y continues to grapple with a shortage in manpower, Huang maintained it is an issue that the industr y has to contend with as many Filipinos go abroad to look for better-paying jobs. “I look at it that way, as long as we’re able to give you the best of what they can do when they are with us, I think we’ve done our good share. But if they do decide to go overseas and spread their wings, what is good with Accor is that we have lost some of our talents to our sister-hotels in other countries. At least they’re growing within the company and the opportunities are there if they decide they want to be [out] there… or decide to come home.”
ECH-ENABLED express logistics firm Ninja Van Philippines inked a memorandum of understanding (MOU) with the local gover nment unit (LGU) of Cabuyao to support e-commerce growth and job generation. At the heart of this partnership lies a shared commitment to fostering security, ensuring business continuity, and enhancing the ease of deliver y ser vices within the Cabuyao region, Ninja Van Philippines Countr y Head Jose Alvin Perez said. “T hi s pa r tne r s hi p w i t h t h e Cabuyao City local government is meaningful to us, as Cabuyao is the host city of Ninja Van’s largest automated sorting hub not just in the Philippines, but across Southeast Asia,” he said. “We have been pres-and in line with our thrust to support nationbuilding, we’re quite excited to look for more ways we can work with the city government in providing support for its constituents.” For his part Cabuyao Mayor Dennis Felipe Hain underscored the significance of public-private collaboration in propelling the city’s development agenda for ward. “We want to maximize Cabuyao’s strategic location as an investment and trade hub, and we want to expand livelihood opportunities for residents of the city,” he said. T he sp r awl i ng 21,000 s qu a remete r sor t i ng fac i l ity i n Cab u yao h as t he potent i al to gene r ate employment for up to 2,400 i nd iv iduals. Lorenz S. Marasigan
BusinessMirror Editor: Jennifer A. Ng Companies B1 Thursday, March 21, 2024 Strong demand for housing lifts 2023 net income of CLI Belle sets tender offer price for PLC Ninja Van inks MOU with Cabuyao City SEC starts roadshow in Cebu T HE Sec uri t i es and Exc h ange Comm ission (SEC) h as lau nc hed a nat ionw ide roadshow to promote susta inable practices among small and med ium enter prises and la rge businesses, as it seeks to inst it ut ional i ze susta inabi l ity repor t ing in t he cor porate sector T he SEC on Wednesday sta r ted its Small and Med iu m Indust ries and La rge Enter prises Embrac ing Susta inabi l ity Roadshow in Cebu T he sa id roadshow is in collaborat ion w it h t he Accelerat ing Green and Cl i mate Fi nance Pro j ect, a project f u nded by Canada and implemented by t he Un ited Nat ions Development Prog ram. “O ur world is fac i ng complex c h allenges, f rom cl imate c h ange to soc i al inequ al ity, and businesses play a cruc i al role in add ressing t hese issues,” SEC Comm issioner Javey Pau l D. Franc isco sa id in his welcome remarks during t he event. “Susta inabi l ity repor t ing is not just about compl i ance; it is about c reat ing long-ter m value for businesses, soc iety, and t he env ironment.” VG Cabuag Business travelers beef up revenues of Joy-Nostalg Manila 17 years strong: CPMC’s legacy of developing holistic wellness residences Revenues g rew 20 percent to P18.8 billion from the previous year’s P15.85 billion as it saw increases across all its revenue streams mainly from real estate sales as well as leasing and hotel operations. Real estate sales rose 20 percent year-on-year to P18.5 billion, driven by consistent collections and steady construction progress. Reser vation sales reached P20.6 billion, up 14 percent from the previous year’s P18 billion. CLI launched 10 new projects offering 4,249 units valued at P18.7 billion. These projects had a 63 percent sell-out rate. Completed projects are already 97 percent sold out, resulting in the blended total portfolio sell-out rate of 93 percent. Its recurring income projects, particularly hotel operations and leasing, grew 66 percent year-on-year to P139 million and by 42 percent yearon-year to P112 million, respectively. CLI has expanded its hospitality portfolio from a single hotel Citadines Cebu City to three including the recently opened lyf Cebu City in Base Line Center, and The Pad CoLiving in Banilad High Street in Cebu With an initial offering of 180 rooms, CLI now has about 800 room keys, with 7 more
“We are bullish that the strategic capital raise through preferred share issuance and our first-ever international partnership would fortify our growth and expansion. T his also st rengt hens our comm itment to delivering exceptional value to our stakeholders as we keep enlarging our business,” Soberano said. VG Cabuag @villygc
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CPMC traces its roots
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Accor currently operates eight hotels with 2,500 rooms in the Philippines, with 13 new properties (2,588 rooms) scheduled to open in the next four years. These include Sofitel Cebu City (194 keys), Novotel Cebu Mactan Resort (195 keys), Mercure Clark (228 keys), and ibis Styles Manila Araneta Center (286 keys).
T
ent in the city since 2018,
By Manuel T. Cayon @awimailbox Mindanao Bureau Chief
Ddevelopment; t he four awa rdees for cooper at ive development; t he 22 awa rdees for econom ic development; t he two awa rdees for publ ic safety, d i saster and c ri si s response; and, t he 23 awa rdees for d i saster ri sk reduct ion and management.
T he c ity feted also t he follow i ng: one awa rdee for ‘Eve r yday Dabawenyo He ro’; f i ve awa rdees for soc i al se r v i ces; f i ve awa rdees for ur ban / rur al i nf r ast ru ct ure, hou s i ng and settlement; four awa rdees for healt h ; t hree awa rdees for an imal healt h welfa re and p rodu ct i v ity; twelve awa rdees for educat ion; t hree for spor ts development; e i g ht for touri sm; and, ten for t he A r ts.
T he c ity infor mat ion off ice
TBSP to tweak passé RRR tack to boost lending, borrowing
up slightly by 0.15
to P309.99 billion.
Premiums from traditional life insurance products collected increased by 11.52 percent to P105.19 billion while collection from variable life insurance products decreased by 4.84 percent to P204.80 billion, it added.
Both non-life insurance companies and MBAs posted an increase in their total net premiums by 12.9 percent to P64.24 billion and by 8.29 percent to P15.38 billion, respectively.
Meanwhile, benefit payments by life insurance companies and MBAs declined by 3.8 percent and 25.41 percent, respectively, while non-life insurance companies’ benefit payments rose by 18.85 percent reaching P26.10 billion.
T he insurance industr y’s total assets in 2023 posted g rowth of 8.02 percent to P2.309 trillion from 2022’s P2.138 trillion.
Total liabilities in 2023 worth P1.849 trillion is also 9.31 percent higher than the P1.691 trillion recorded in the previous year
Total invested assets in 2023 also increased by 12.47 percent to P2.053 trillion from P1.825 trillion in 2022.
THE Bangko Sentral ng Pilipinas (BSP) is keen on undertaking studies on the impact of the reserve requirement ratio (RRR) in the hope of bringing back lending and borrowing activities that have found their way outside of regulation due to the
BSP Governor Eli M. Remolona Jr described as passé the traditional view—common in the 1960s—that the reser ve requirement is a way to control money support. Remolona said during a briefing last Wednesday that while the BSP has already cut the RRR “quite a bit” (See: https:// businessmirror.com.ph/2023/06/09/ banks-rrr-slashed-by-250-bps/), further reduction may be needed to encourage more lending and borrowing activities.
quoted one, of Jonas C. Lamber te, hu man resource head of A rkcons A PO Phi l ippines Cor p., was quoted in a statement as saying his company is “ver y honored to be recogn i zed” u nder t he econom ic development for t he pa r tnership w it h t he Publ ic Employment Ser v ice Off ice “ in t he placement and hiring of many workers f rom Davao.” Lamber te sa id it was t he f irst t ime t he f ir m was awa rded for econom ic development.
“It i s ver y over whelm i ng to g iven t hi s oppor t u n ity,” he added.
Gr ac ie Plata, publ ic relat ions off icer of Guide Davao, a g roup of acc red ited tour g uides here i n t he c ity, also expressed g r at it ude to be recogn i zed duri ng
“We traditionally look at reserve requirements as a way to control money supply. That was the thinking in the 1960s. That thinking has gone away. Now reserve requirements are seen as a distortion of financial intermediation. They drive a wedge between deposit and lending rates,” Remolona said. “We’ve lowered our reserve requirements quite a bit. I think there’s room to lower them some more. But we need good research on that, on exactly what the impact of reserve requirements are on financial intermediation,” he added.
‘Grey market’
REMOLONA said there is now a “grey market” where “conglomerates lend
RESEARCH fir m CapstoneIntel Corp. announced that its recent “social listening” repor t showed that in ter ms of preference from Filipino social media users, GCash has received over 40.1 percent satisfaction while Maya garnered 19.3 percent preference.
Howeve r, i n te r ms of soc i al med i a reac h Maya h as received 1 3 6,999,285, hi g h e r t h an t h e
62,975,335 reach of GCash
In a statement issued last Wednesday, Capstone-Intel said it found that “GCash ” garnered a 502,382.0 engagement score for its 21,464 total post count, which yielded over 1,057,467 total reaction count. The bulk of the engagement score and total post count were all attributed to the payment ser vice’s accessibility to various payment centers and the usage preference of Filipino social media users talking about “GCash.”
W hen broken down, “Facebook like” accounts for 48.1 percent of the total reactions, with 508,293 Followed by “Facebook love” with 423,880 reactions (40.1 percent), “Facebook haha” with 53,370 (5 percent), “Facebook sad” with 44,844 (4.2 percent), “Facebook wow” with 16,109 (1.5 percent), and “Facebook
to each other” without any big contracts. This is something that BSP wants to bring back into the ambit of the formal banking system. “I think intermediation for now is a bit burdened by regulation, including reser ve requirements, to the point where a lot of lending and borrowing happens outside the perimeter of regulation,” Remolona said.
Apart from this, Remolona also said it was important for the BSP to conduct studies on “measur(ing) the degree to which inflation expectations are anchored” and determine when they start to de-anchor
An inflat ion-ta rget ing cent ral bank like the BSP is keen on maintaining inflation expectations anchored on the targets set by the monetar y authorities. With this and the impact of higher temperatures on food, the study found that it is important for nonmonetary measures to keep inflation expectations anchored.
“Once expectations become deanchored, our life becomes much more difficult. We have to be much more hawkish than before, I think, once expectations become de-anchored. So we have to be able to
angr y” with 10,971 reactions. On the other hand, Capstone-Intel likewise found that “Maya” garnered a 97,335.2 engagement score for its 2,764 total post count, which yielded over 428,582 total reaction count. Compared to GCash Maya has fewer posts on Facebook which resu lted in its lower engagement score and presence on the social media platform.
W hen broken down, “Facebook like” accounts for 41.3 percent of the total reactions, with 177,116. Followed by “Facebook sad” w ith 128,334 reactions (29.9 percent), “Facebook love” with 82,913 (19.3 pe rcent), “Facebook h a h a” w it h 30,199 (7 percent), “Facebook wow” with 8,950 (2.1 percent), and “Facebook angr y” with 1,070 reactions (0.2 percent).
Looking at the data, the majority of “Facebook love” reactions can be seen as the satisfaction of users regarding the use of the two digital ser v ices. However, the “Facebook like,” which was higher than the users’ preference can be translated as social media users’ neutrality in terms of using the two digital payment ser vices.
It is also worth noting that some
to reconsider any rate cuts.
“How it would affect monetar y policy is through the Secretar y of Finance. The Secretar y of Finance is one member of a 7-member monetary board. So he has one vote among seven members. So he can vote the way he wants to vote,” Remolona said.
“But we have, thankfully, we have an independent central bank. And the independence is mainly between fiscal policy and monetar y policy. We have to coordinate. But we’re not going to be driven by fiscal policy concerns,” he added. These kinds of studies along with a hundred other researches have been proposed by Remolona to the BSP’s Research Academy (BRAc). This coincides with the Governor’s plan to foster a culture of research within the BSP to further aid in monetar y policy-making.
‘Research culture’
REMOLONA said while the United States Federal Reser ve is considered to have the best research culture among central banks all over the world, it would be a stretch for the BSP to immediately emulate researches done by the Fed. Nonetheless, the BSP Governor
Facebook reactions, particularly the “ haha,” “sad,” and “angr y” reactions were seen as negative reactions by soc i al med i a u sers about GCash and Maya. Spec i f i cally, t h ese r eact i ons came from poor ser vice, expensive transfer fees, and untimely maintenance which affect users’ payment behaviors as stated by users on the top posts.
Online mentions
LIKEWISE, Capstone-Intel revealed that “GCash ” received 85.2 percent positive mentions while “Maya” has gotten over 92.5 percent positive mentions. T his means that the article mentions about the “GCash and “Maya” were mostly angled positively, but Maya had more posit ive ment ions t han GCash since the majority of negative mentions for GCash talk about the mobile payment ser v ice’s frequent system downtime—affecting the seamless user experience.
On t he ot her hand, it is also worth noting that “GCash ” received 62,975,335 social media reach, while its non-social media reach yielded over 6,086,495 non-social med ia reach
believes the Philippine central bank could easily emulate the regional efforts such as those undertaken at the Bank of Thailand and Bank of Japan. The European Central Bank (ECB) is another excellent example, he said.
“The ECB has ver y good research Our neighbors, Bank of Thailand, does ver y good research Japan does ver y good research So those are the central banks that have a research culture,” Remolona said.
The key to fostering a research culture in the BSP is for greater data sharing. Remolona noted that the best Central Banks in the region do not have data-sharing agreements.
Abolished agreements REMOLONA said following their example, the central bank has already abolished all its data-sharing agreements to allow for the free-flow of information that could be used for researches.
“You share your data in good faith You don’t assume that the guy, the researcher, will misuse the data. You have to trust your colleagues to do the right thing. We have a ver y strong relationship with the regulator y culture, I think, to the point where we tr y to over-regulate ourselves, which I think is not good for research,” Remolona said. Established in Januar y 2021, the BRAc si mandated to lead the development of a comprehensive and integrated research agenda; design and implement research support programs; and conduct research and facilitate publication of research work. It is also tasked to prepare papers, articles, and notes for BSP top management; facilitate research collaboration within BSP and its partner institutions; conduct research dissemination activities; and ensure BSP has presence in the domestic and global research community.
For Maya, Capstone-Intel revealed t h at it h as gotten ove r 136,999,285 soc i al med i a reac h whi le its non-social med ia reach yielded over 183,081,413 non-social media reach
Top posts sources
IN terms of top posts, 74.5 percent of mentions for the “GCash came from X (formerly Twitter), followed by Facebook with 11.5 percent, and TikTok with 5.7 percent topic mentions.
Meanwhile, 31.8 percent of mentions for “Maya” also came from X (formerly Twitter), followed by news with 27.7 percent, and TikTok with 16.6 topic mentions.
Looking at the data, both GCash and Maya use a nearly similar campaign on how they are going to be talked over online as they both manifested the use of TikTok as shown in the data gathered by Capstone.
It is also signif icant that most topics mentioned for the two dig ital payment ser v ices are held on X (for merly Tw itter). According to the data, t hese ment ions are mostly negat ive, d isc ussing bot h GCash and Maya’s ineff icient dig ital infrastructure.
BusinessMirror Editor: Dennis D. Estopace Thursday, March 21, 2024 B3 www.news.businessmirror@gmail.com Banking&Finance
AVAO CITY—T he city’s top-paying cor porations, organizations and individuals were cited for their contribution to the city finances during the “Pasidungog 2024,” the city’s end festivities of its char ter day. “It i s really ver y good to see t he Dabawenyos here t h at t ru ly embr ace t he ir roles and responsibi l it ies as c it i zens as cont ributi ng c it i zens of t he c ity. From t he top taxpayers who a re ver y ric h and h ave resources to sh a re and t he people of Davao who a re less for t u nate, t hi s i s wh at makes Davao C ity t ru ly u n ique,” sa id C ity Mayor Sebast i an Z. D uter te. D uter te commended t he awa rdees at t he event held last Ma rc h 15 t h at i nclude t he follow i ng: t he top ten taxpayers; t he top ten real proper ty taxpayers; t he 18 awa rdees for bu si ness
t he event for t he ir cont ribut ion to t he touri sm sector “We a re super t h ankf u l and super proud and honored to be recogn i zed as one of t hose who cont ributed to t he prog ress of Davao C ity. We love our job. We love show i ng people a rou nd. We love to make people know why Davao i s suc h a good place to l ive i n,” Plata was quoted i n t he statement as say i ng. Jay C rebi llo, adv i ser of M i ndanao All i ance Mou nta i neeri ng Club 1998 Inc., also expressed g r at it ude “t h at t he c ity recogn i zed our effor ts as responders duri ng calam it ies.” Joan M. Curbo, president of San Ju an Homeowner ’s Assoc i at ion Inc., sa id her members were g r atef u l for t he c itat ion u nder t he “Urban / Rur al Inf r ast ruct ure, Hou si ng and Settlement” categor y. Curbo sa id it was also t he f irst t i me t he organ i zat ion was g iven suc h awa rd by t he local gover nment.
By Cai U. Ordinario @caiordinario
measure that, the tendency for that,” Remolona said. Policy concerns THE recent research by the BRAC cited that rising temperatures affected farm production thereby increasing prices. More expensive food, particularly rice, has a significant impact on inflation and must not only be met with monetar y measures but nonmonetar y measures as well. This becomes particularly significant in light of the recent announcement that El Niño has led to damages of up to P1.75 billion. This left the Marcos administration
ratio.
Insurance industry’s net income hit ₧48B in 2023
taxpayers feted at Davao City’s festivities Gcash preferred, Maya gaining wider reach–survey BPI eyes raising $400M via bond issuance to meet refinancing, corporate needs By Reine Juvierre Alberto THE Insurance Commission (IC) announced last Wednesday that the insurance industr y’s net income inched up, reaching more than P48 billion last year In a statement, the IC said the net income of life and non-life insurance companies, and mutual benefit associations (MBAs) rose by 3.8 percent amounting to P48.46 billion in 2023 from P46.692 billion in the previous year The IC attributed the slight increase in net income to non-life insurance companies which recorded a P9.107 billion in net income, up by 30.07 percent, last year from P7.001 billion in 2022. The net income of life insurance companies inched down by 0.72 percent to P33.63 billion in 2023 from the P33.631 billion it posted in the previous year according to the IC. Based on IC’s figures, the total net income of MBAs in 2023 also went down by 1.55 percent to P5.727 billion from P5.817 billion in 2022. Meanwhile, the IC reported that the total premium collection by the insurance industr y last year grew by 2.36 percent to P389.61 billion on the back of all life and non-life insurance companies and MBAs increase
premium collection.
premium
insurance companies
Top
in
Furthermore, the IC reported that
collections of life
went
percent
HE Bank of the Philippine Islands (BPI) is tapping the inter national capital market to raise $400 million for its refinancing and general cor porate needs. In a statement last Wednesday, t he BPI sa id t hi s i s its f irst publ ic USD bond i ssu ance for t he f irst t i me si nce 2019. T he 5-yea r “Reg u lat ion S” sen ior u nsec ured notes were i ssued u nder BPI’s $3 -bi ll ion “Med iu m Ter m Notes Prog r am.” T he 5-yea r Notes were priced at US Treasur y spread of T+105 basi s poi nts (bps) w it h a coupon of 5.25 percent, represent i ng t he t ig htest ever spread on a 5-yea r bond f rom a non-sovere ign Phi lippi ne i ssuer Accord i ng to t he BPI, t he Notes a re r ated “Baa2” by Moody’s and t h at t he t r ansact ion i s expected to settle on Ma rc h 26. T he lender annou nced t he t r ansact ion mandate on Ma rc h 18 and conducted a compre hensive i nvestor ma rket i ng exerc i se i nvolv i ng a global i nvestor call and a series of meet i ngs coveri ng i nvestors ac ross Hong Kong, Si ngapore, and London. After receiv ing posit ive investor feedback, t he BPI lau nc hed t he t ransact ion bookbui ld ing on Ma rc h 19 w it h an In it i al Pric ing Guidance (IPG) of T+140 bps a rea. T he lender sa id orderbooks saw a st rong moment u m t hrou g hout t he day, despite a week ri fe w it h global cent r al bank pol icy meet i ngs, w it h t he f i nal books stand i ng at over $1. 3 bi ll ion, as t he Notes were 3 3 t i mes oversubsc ribed. “T hi s allowed 35 bps of prici ng compression f rom I PG to f i nal pric i ng, even as t he i ssue si ze was i nc reased f rom t he origi nal i nd icat ions of $3 00 m i ll ion, to accommodate t he st rong oversubsc ript ion levels,” BPI sa id. In ter ms of geog r aphic allocat ion, t he Notes were d i st ributed 81 percent to Asi a and 19 percent to EMEA (Europe, M iddle East, and Af rica) and /or offshore US accou nts. T he Notes were d i st ributed to hig h qu al ity f i xed i ncome accou nts: 51 percent to f u nd managers; 29 percent to banks; 17 percent to private banks and f i nanc i al i nst it ut ions; and, t hree percent to i nsur ance. BPI Capital was t he Sole Global Coord i nator, whi le J.P Morgan, M i z uho, Standa rd C h a r tered Bank and UBS were t he Joi nt Lead Managers for t he t r ansact ion. Cai U. Ordinario
Editor: Jennifer A. Ng • www.businessmirror.com.ph
‘Pricey meat could affect learning outcomes’
TBy Butch Fernandez @butchfBM
HE local livestock and poultry subsectors must get more assistance from the government to make meat products more affordable, which will help improve learning outcomes in the Philippines, according to Senator Cynthia A. Villar.
Villar noted that high meat prices could lead to protein deficiency, contribute to malnutrition and even affect learning outcomes. Citing the findings of the Organisation for Economic Co-operation and Development’s (OECD) Programme for International Student Assessment (PISA), she said students from countries with higher pork and chicken prices tend to have lower test scores. Despite their importance, Villar said several challenges prevent the Philippine
livestock and poultry subsectors from realizing their full potential.
“We know too well of the effect of disease outbreaks, such as the African swine fever, which has been afflicting our hog industry and decimating our pork supply since 2019. This has resulted in a significant increase in the prices of pork products.”
She said pork, and chicken are integral components of the Filipino diet, helping ensure a balanced intake of nutrients.
“It is estimated that 52 percent of our protein consumption comes from pork and chicken, and this is projected to grow even higher to 58 percent in 2030.”
Compared with other agricultural commodities, however, the lawmaker said the subsectors receive relatively lower development assistance from the government.
“The Philippine Institute for Development Studies data shows that from 2009 to 2020,
BUSINESSMIRROR FILE PHOTO
fiscal support for the LPD [livestock, poultry and dairy] sector averaged only P1.18 billion per year, accounting for merely 1.6 percent of the total budget of the Department of Agriculture [DA] for the period.”
She said the “highly fragmented government support structure” is also responsible for the struggles of the dairy sector, which continues to rely heavily on imported milk.
SC finds no civil liability against PhilRice officials over car plan scheme
By Joel R. San Juan @jrsanjuan1573
THE Supreme Court (SC) unanimously affirmed the Commission on Audit (COA) ruling, which declared as illegal the 2008 car plan scheme implemented by the Philippine Rice Research Institute (PhilRice) to entice its officials and employees to stay in the agency.
However, the Court en banc found the officials of PhilRice not liable to refund the government in the amount of P10.15 million representing the expenses incurred during the implementation of the car plan program.
The said amount was the subject of 26 notices of disallowance (ND) issued by the COA in 2013.
The SC held that the officials acted in good faith in allowing the release of government funds for the procurement and use of the vehicles under the scheme.
“Here, while petitioners approved and authorized the payment of government funds in violation of Section 12 of RA No. 6758 [Compensation and Position Classification Act of 1989], nevertheless, the exceptional circumstances surrounding the case...tenaciously show they acted in good faith and were solely propelled by a valid and genuine cause—the prevention
of ‘brain drain’ within the institute through a more cost-effective approach,” the SC said in a decision penned by Associate Justice Japar Dimaampao. The petitioners in the case are Sophia T. Borja, Ma. Ethel P. Gibe, Mary Grace DG. Corpuz, Joy T. Agudia, Aurea C. Cosio, Wilfredo B. Collado, Myrna D. Malabayabas, Evelyn F. Javier, Eduardo Jimmy P. Quilang, Rizal G. Corales, Renato B. Bajit, Manuel Jose C. Regalado, Glenda DC. Ravelo, Leo C. Javier, Caesar Joventino M. Tado, Rhemilyn Z. Relado and Babylinda 0. Reyes.
The petitioners were signatories to the vouchers approving the release of the disallowed amounts, with petitioner Borja as one of the car owners.
“Thusly, petitioners, in their capacity as approving/certifying officers, are likewise excused from liability under Rule 2 of the Madera rules,” it added.
In determining petitioners’ liability to return the disallowed amounts, the SC said it is guided by its landmark ruling in the case of Madera v. Commission on Audit.
In the said ruling, the SC held that if a notice of disallowance is upheld, the “approving and certifying officers who acted in good faith in regular performance of official functions and with the diligence of a good father of the family are not civilly liable to return consistent with Section 38
of the Administrative Code of 1987.”
The SC said the purpose of the car plan scheme was to keep the brilliant and exceptional officials and employees of PhilRice from seeking greener pastures outside the agency.
Likewise, the SC noted that the operations of PhilRice as a research and development institution, entailed countless of land travels, which necessitated the costs, such purchase price of vehicle, fuel, oil, maintenance expenses and comprehensive insurance premiums.
In point of fact, based on a cost benefit analysis, PhilRice could save around P6.00 to P 7.00 per kilometer in rented vehicles rather than owning and maintaining vehicles.
Records also further showed, according to the SC, the petitioners observed the strict guidelines mandated by PhilRice in the car rental plan.
The car plan scheme operated as a rental plan under which qualified officials and employees procured vehicles of their choice through the financing scheme of the Philippine National Bank (PNB) for a period of three years, payable on a monthly installment basis.
These private green-plated vehicles were then mortgaged to the PNB until full settlement of the obligation.
Cavite group, Taiwan NGO renew agri supply deal
Vietnam, Cambodia, and Jordan.
TBy Jonathan L. Mayuga @jonlmayuga
Beneficiaries Farmers Association Inc. in Cavite renewed its contract to supply agricultural products to the Taiwan Fund for Children and Families (TFCF) for its childcare program.
The supply contract covers certain agricultural product requirements of the Taiwan nongovernment organization (NGO) to improve maternal, infant, and child nutrition in the Philippines.
The first memorandum of agreement (MOA) was signed last year between Danilo Arnes, President of the Tres Agrarian Reform Beneficiaries Farmers Association, Inc., and Kai Li Chang, TFCF Philippines Branch Director.
“This partnership has assured the agrarian reform beneficiaries [ARBs] of
the association of a steady market for their products and opened up opportunities to further expose their products to other target consumers,” James Arthur T. Dubongco, Department of Agrarian Reform (DAR)
Provincial Agrarian Reform Program Officer II in Cavite said in a statement.
He said the association will continuously supply their harvested agricultural products to the TFCF, including root crops, fruits, and vegetables.
TFCF is an international non-governmental organization established 73 years ago that dedicates itself to providing support to vulnerable children and their families.
TFCF has its main headquarters in Taichung, Taiwan, and its corresponding Philippine branch is in Mandaluyong. It boasts of remarkable achievements in helping underprivileged children and families in around 34 countries, including Mongolia,
Albay FMRs
SEVERAL farm-to-market roads in four towns in Albay Province are expected to improve accessibility and transportation for agrarian reform beneficiaries and boost the connectivity of farms to trading centers in the province.
The projects, with a total budget of P500 million funded under the 2023 Agrarian Reform Fund, will be implemented by the Department of Agrarian Reform (DAR).
“The improvement of these roads is essential in connecting our farmers to marketplaces, ultimately increasing opportunities for agrarian reform communities,” DAR Provincial Agrarian Reform Program Officer I Patricia T. Rastrullo of DAR Albay said.
In Polangui town, the P200-million three-segment project includes the P100million Pintor-Kinuartilan-La Purisima
Banana producers urged to pursue variety diversification
THE Food and Agriculture Organization of the United Nations (FAO) said countries should pursue variety diversification as a key strategy to ensure the future of banana trade, as the Cavendish variety is vulnerable to Fusarium wilt Tropical Race 4 (TR4).
FAO noted that the spread of diseases is a big concern in the sector. In 2019, TR4 reached several countries in Latin America after many years of spreading worldwide.
“However, acceptance by retailers and consumers of different varieties remains a
challenge,” FAO Director General Qu Dongyu said in his opening remarks to the recently concluded 4th Global Conference of The World Banana Forum (WBF). Participants to the WBF, which was hosted by the UN agency, discussed challenges faced by banana producers, including the impacts of the climate crisis, high energy and fertilizer costs, and the spread of the destructive TR4.
“Bananas are among the most produced, traded and consumed fruits globally, with more than 1000 varieties produced worldwide they provide vital nutrients to
many populations.”
Qu noted that the banana sector is particularly significant in some of the least developed and low-income food-deficit countries, where it contributes not only to household food security as a staple, but also to job creation and income generation as a cash crop.
“Income from growing bananas can account for up to three quarters of the total monthly household income for smallholder farmers and generate over $10 billion in export revenues annually, the bulk of which accrues to developing countries.”
The lawmaker is pushing for the passage of an enabling legislation that is expected to unlock the immense potential of the country’s livestock, poultry, and dairy subsectors.
She filed Senate Bill (SB) 2558 or “An Act Strengthening Livestock, Poultry, and Dairy Industry Development and Competitiveness, Rationalizing the Organization and Functions of Relevant Government Agencies, and Creating a Competitive Enhancement Fund Therefor.”
One of the salient features of the bill is the creation of a fund that will be earmarked for LPD.
“Building on the model of the Rice Competitive Enhancement Fund or RCEF established under Republic Act 11203 or the Rice Tariffication Law, tariff collection from LPD imports will be earmarked to the LPD Fund. It shall consist of an annual appropriation of P7.8 billion for six [6] years,” said Villar, who is also chairman
Thereafter, the vehicles were rented out to PhilRice for use in the operations in its central station located in the Science City of Muñoz and other branches/stations around the country.
The rental payments were used to pay for the private vehicles.
The petitioners maintained that the car rental plan was guided by Opinion No. 121, Series of 1988 issued by the Office of the Government Corporate Counsel (OGCC).
Following an audit conducted in 2013, the COA issued NDs issued for “expenses incurred during the trips made using rented private vehicles under the car plan.”
The COA said the car plan scheme was not approved by the President as required under Section 215 of Presidential Decree (P.D.) No. 98 and that it contravened the required austerity measures of the government.
It further ruled that the scheme was not included in the exemption of standardized salary under Republic Act (RA) 6758.
It added that the rental of the vehicles did not conform with Section 7 of RA 6713, which prohibits public officers and employees from having any interest in any transaction requiring the approval of their office and Section 8, Article IX-B of the Constitution which prohibits additional or double compensation.
project which involves concreting of a 5-kilometer stretch. Additionally, the Itaran-Sitio San Luis-Lourdes and LourdezLanigay projects, covering 2.5 kilometers each, cost P100 million in total.
In Guinobatan, the 4-kilometer concreting of Sitio Parina-Mapaco, Sitio Banban, Mapaco-Sitio Manapaonapao-Maguiron, Maguiron-Libas farm-to-market road (FMR) amounts to P100 million.
The Tablon-Cagmanaba project in Oas, covering a distance of 1.2 kilometers focuses on road opening and concreting. The groundbreaking ceremony for this project was held last March 9, marking the commencement of the construction phase.
In the municipality of Libon, the San Vicente-Nino Jesus -San Ramon FMR project is set to cover 3 kilometers, involving the concreting of the road. Under the MOA between DAR and the local government units, at least 50 percent of ARBs must be employed as laborers in the implementation of the project including out-of-school-youth.
The conference is aimed at finding ways to boost the banana sector, which faces several constraints including high costs of transportation, energy, and inputs, in particular fertilizer prices, and the spread TR4.
In response to the various constraints, the sector should “turn these challenges into opportunities through close collaboration by partners across the banana sector,” Qu said. He called for all stakeholders to work together to boost investments and adopt more sustainable production practices.
As high inflation has reduced the purchasing power of consumers placing bananas under an increasing competition
of the Senate Committee on Agriculture and Food.
The beneficiaries of the fund are smallhold raisers, cooperatives, associations, or organizations accredited by the DA. An LPD Registry System, the master list of eligible beneficiaries will be established by the DA in consultation with farmer cooperatives and LGUs.
Under her proposal, 29 percent of the fund will be allotted for repopulation and herd build-up, improvement and accreditation of established breeding centers/stock farms nationwide while 15 percent will go to the Bureau of Animal Industry for animal health and welfare, and native animal development programs, disease control, prevention and response, including protective surveillance, pest and disease emergency response, and conduct of research and technology advancement programs.
$6B in fertilizer plants to help Indonesia curb food cost
NDONESIA’S state-owned PT Pupuk
IIndonesia will invest more than $6 billion to boost fertilizer supply as part of a bid to temper food costs.
The company plans to spend 100 trillion rupiah ($6.4 billion) over the next five years, which includes a new $1.2 billion ammonia and urea fertilizer plant in Fakfak in Papua province and about $640 million of upgrades to its old Palembang complex, said President Director Rahmad Pribadi.
“We need it to improve food security in our eastern regions by providing affordable fertilizer with less logistic cost,” Pribadi said in an interview in Jakarta. The expansion plan could help the nation boost food output for its nearly 280 million people. Rice imports have already surged sevenfold last year, and the government is issuing more import permits this year as production lags demand. Volatile food prices rose 8.47 percent in February, the fastest pace in more than a year, as the cost of staples like rice and chili climb. Construction of the Fakfak plant will start next year with production set for early 2028, Pribadi said.
Here’s more from the interview:
Company is considering debt financing or strategic equity partners to fund the expansion
Pupuk Indonesia has picked advisers to arrange the IPO of its unit Pupuk Kalimantan Timur, pending better market situation and approval from the State-Owned Enterprises Ministry Company is also actively engaging with potential partners and likely M&A targets to boost its presence in Asia Pacific Pupuk Indonesia targets 8.5 million tons of urea output and 4.2 million tons of NPK fertilizer this year, with a goal of doubling its ammonia output in 2050 from 7 million tons currently Company will build a methanol plant in Aceh that will get gas supply from the Andaman project.
Export aid
THE United States is seeing fervent industry support for its program to help the nation’s farmers win back overseas
from various tropical fruits, Qu said better market access will require “substantial investment of resources, including financial.”
The forum also highlighted the impact on the sector of high transportation costs and shipping disruptions in various areas of the world, including in the Black Sea, Red Sea and Panama Canal, caused by conflicts, geopolitical tensions and low water levels.
In terms of market access, FAO said stringent requirements can make the production and export of bananas more complicated. These cover a range of aspects, including fruit quality, pesticide residue levels, and environmental and social
markets from rivals including Brazil and Russia, with agriculture groups seeking more than $900 million in aid.
The US Department of Agriculture (USDA) received applications for more than three times the $300 million made available in the first round of a five-year export promotion plan, according to Daniel Whitley, the administrator of the USDA’s Foreign Agricultural Service. The $1.3 billion Regional Agricultural Promotion Program, announced last year, is designed to help the industry tap new destinations for American crops.
The US is throwing money at the agriculture industry in a bid to recoup markets lost over the past decade. Brazil overtook the US last year as the world’s top exporter of corn, after earlier doing the same for soybeans, while Russia has surpassed the US with wheat.
“Many of our competitors are extremely busy and active promoting their products around the world,” Whitley said at the National Grain and Feed Association annual convention in Orlando on Monday. “It’s important that we give you all the tools you need to be successful, and that’s what this RAP program does—it allows you to grow and expand your market and promotion activities.”
Funds must be used to diversify markets, with one of the main bets to reverse the US’s decline being new export markets in Southeast Asia, the Middle East and Africa. Whitley expects applications to be selected by late spring or early summer.
The US is encouraging the private sector “to look at more markets, to be more diversified in where you’re promoting your products, and where you’re building your consumers,” he said in an interview at the event.
He is particularly bullish on Africa. The continent, which is expected to be home to 25 percent of the global population by 2050, has a growing middle class, increased buying power and a “strong recognition and appreciation for the US brand.”
“It is vital that we get our companies, our products and our industries there now, and we don’t wait until it’s too late,” Whitley said, noting that competitors such as China are already in the region. “I think Africa presents such a tremendous opportunity.” Bloomberg News
sustainability, and affect smaller players in the market disproportionately.
“However, they may also offer producers opportunities for enhancing their operations, brand reputation and market access, with the needed substantial investments of time and resources.”
The forum, which was established in 2009, offers its members a range of tools and resources to help the sector become more efficient, inclusive, resilient and sustainable. These include a practical tool for measuring carbon and water footprints, being piloted in nine countries and a Banana Occupational Health and Safety Initiative, being implemented in Ecuador and Cameroon.
21,
B4 Thursday, March
2024
HE Tres Agrarian Reform
Strengthening family dental health from babies to parents
EGG-CITING SWEETS AND TREATS THIS EASTER
ELEVATE Easter celebrations with the latest season-inspired confections from Chef Lovely Jiao of Sugarplum Pastries.
For the distinct occasion, the creative dessert innovator encapsulated the fun and festivities of the holiday as she brings back the classic colors and themes of her brand “Allow us to take you to our own little Easter storytelling,”
Chef Lovely shared.
“Going way back to where it all started: Something teal and creative, red, blue, and Cath Kidston-y; think pink coquette, and—of course—‘plumgineered,’” she added.
For Some-bunny’s Bundle, the collection is headlined by the signature Sugarplum chocolate smashers, which takes the form of the iconic Easter eggs, together with a wooden mallet to level up the activity. Described as “Speggtacular” when smashed, these adorable balls of surprises reveal a delightful burst of candies.
The crowd-favorite cookie-do is back. The D.I.Y. pack “Egg-Citing Kit” comes with four delectable sugar cookies in the shapes of a bunny, heart and, naturally, eggs, as well as piping bags in red, blue and pink. It is likewise complete with four chocolate egg smashers filled with trinkets and candies for decorations. The latest addition to Chef Lovely’s quaint dessert series is “Hatch Me By D’ Dozen,” a promise of a sugary experience for those who are up for treats this Easter. It houses a selection of intricately adorned sweets, from macarons and sugar cookies and egg smashers.
Named after the baker, “Lovely Cake” is a melt-in-yourmouth vanilla chiffon which offers a burst of tangy lemon and a decadent serving of fluffy meringue and marshmallow icing. Dressed in the Sugarplum hues, its frilly and over-piped look is a nod to vintage confections—an invitation for a nostalgic trip down childhood days.
Chef Lovely is armed with a culinary degree from De La Salle-College of Saint Benilde (DLS-CSB) School of Hotel, Restaurant, and Institution Management (SHRIM). She has honed her skills at the Makati Shangri-La and F1 Hotel Taguig. She established Sugarplum Pastries in 2011. Through the years, she has stayed true to her philosophy of “No to boring desserts!” and promises to only create the most enticing pastries to celebrate family time.
More information is available at www.sugarplumpastries. com.
BEHIND every good habit is you. It is not easy to Pigeon dental products, a global brand specializing in baby and child care for over 60 years, the role of parents is critical in both example
When do you start? Even though baby teeth are temporary, they play a vital role in every child’s development. Here are some reasons why you should prioritize brushing your baby’s teeth:
Prevention of Tooth Decay: Infant teeth are Childhood Caries”. This can lead to problems with speech, nutrition and self-esteem if a good oral care routine is not established.
Speech: Early loss of primary teeth caused by cavities has the potential to hinder the development of speech, particularly articulation skills.
Nutrition: Your child’s primary teeth play a crucial role in facilitating proper chewing, which serves as the initial step in the digestion process.
When babies experience dental pain from tooth decay or other dental issues, they may develop aversions to certain foods. This potentially can lead to nutritional
Self-Esteem: Children who maintain good oral
FROM football to baseball, gymnastics to tennis, more young athletes are becoming sports specialists. They join expensive sports clubs or youth leagues and devote themselves to a single sport all year long. But Nirav Pandya, a professor of orthopedic surgery and sports medicine at the University of California San Francisco, says there are risks when kids specialize, including an increased possibility of injury and a high burnout rate. The Conversation has collaborated with SciLine to bring you highlights from the discussion, which have been edited for brevity and clarity.
What trends do you see related to kids and sports participation?
Nirav Pandya: We’re seeing a
health typically exhibit higher levels of self-esteem interactions and children may experience selfby tooth decay.
brushing fun. Brushing together with your child starts a family routine. We all know how children love to imitate their parents. You can also use a timer or a song that you can set for two minutes, then make it a challenge for your child to brush until the song ends
good habit of brushing.
To kickstart the brushing habit for parents or caregivers, selecting the right tooth gel for your child
prevent tooth decay, like Pigeon Children’s tooth gel. the minimum level recommended by the World Health Organization (WHO) and Health Promotion Board Singapore (HPB) to prevent tooth decay and strengthen tooth enamel.
For adults, tooth sensitivity, or pangingilo, is a rampant issue. It can make daily activities, like eating and drinking, uncomfortable. That tingling sensation brought about by tooth sensitivity can be triggered when consuming something cold, hot, or sugary. While most people would immediately react by avoiding these foods and drinks, it’s just a temporary solution. It’s crucial to address the real but many don’t take action as the sensation comes and goes. Some don’t even know that they have tooth sensitivity, while others would choose to endure the protective layer—the enamel—wears down or thins
tremendous number of kids who are participating in sports outside of the school setting.
And kids are specializing in sports at younger ages. Six-, seven-, eight- and nineyear-olds are playing one sport year-round to the exclusion of other sports.
What are the outcomes for kids who specialize?
Nirav Pandya: When kids specialize, they have a significantly increased risk of injury. We also know 70 percent of kids will drop out of sports by age 13 if they specialize. Also, in the long term, kids who specialize in a single sport perform less well in that sport and in all sports in general than kids who play more than one. So once again, we’re really hurting kids from multiple
Enjoy delicious gluten-free treats at Baking Therapy—the wholesome bakery by Healthy Options and first gluten-free bakery in the Philippines also recently opened a fullfledged café at Shangri-La Plaza. Bonus: these are perfect spots for hours-long conversations, too.
How about volunteering to run errands with a busy friend? It can be a welcome shake-up to their routine and a chance to catch up while allowing them to stay on top of their to-dos.
From ticking off items at The Marketplace to shopping for more home essentials at Rustans Department Store, you can turn everyday tasks
protective layer of the teeth is brushing our teeth too strongly or when we use toothbrushes with bristles
If someone experiences tooth sensitivity and ignores it, the condition worsens. It is important to use a toothpaste formulated with potassium nitrate sooth sensitivity and prevent cavities, are found Sensodyne twice daily, even if tooth sensitivity stops because it acts as a barrier between the teeth and hot,
To help more Filipinos address this, Sensodyne
on January 28, 2024, during the Philippine Dental checked at Sensodyne’s Free Dental Checkup and
across the Philippines to share the information on how to take better care of one’s teeth, especially on tooth sensitivity. The caravan will soon make its way to Pasay, Caloocan, Baguio City, Dagupan City, Tuguegarao City, Cabanatuan City, Batangas City, City, Davao City.
Sensodyne is available at leading supermarkets and drugstores nationwide. The Sensodyne Fresh as low as P99. Sensodyne can also be purchased on
different levels if they’re specializing.
What is the relationship between sports specialization and injuries?
Nirav Pandya: There’s a tremendous increase in traumatic injuries. ACL tears used to be something we’d see in 17-, 18-, 19-year-olds. Now, 10-, 11- and 12-year-olds get them. The rate of ACL injuries has gone up 12 percent over the last decade in this adolescent age group. Based on my experience as a clinician, kids are also getting overuse injuries like knee pain and shoulder pain from doing too much of the same activity again and again.
What can parents do to ensure their kids have a healthy relationship with sports?
Nirav Pandya: It’s important for parents
to understand the data. And that’s our role as physical therapists, athletic trainers and coaches—to understand that data and give it to parents. I think the second thing is also not to feel the pressure to enter the youth sports complex, a $15.3 billion industry. Instead, donate to a community organization that is funding recreational sports, or try to push for your school to have those opportunities for your kids. And finally, if your child is going to be playing travel sports or year-round sports, the parents should look at the websites of the club. Are they promoting kids to be healthy and active in a safe environment, or are they promoting kids to get a scholarship?
THE CONVERSATION
B5 Editor: Gerard S. Ramos www.businessmirror.com.ph Parentlife BusinessMirror EVENT PHOTOS FROM THE “SENSITIVE KA? MAG-SENSODYNE NA!” CARAVAN.
SOME-BUNNY’S Bundle by Benilde Culinary Arts alumna Chef Lovely Jiao of Sugarplum Pastries.
everyone is anticipating International Day of Happiness, it shouldn’t stop anyone from trying to make a loved one happy every day. Shangri-La Plaza is inviting everyone to seize the opportunity with a list of inspired ways one can brighten someone’s day—including your own. The serotonin boost also does wonders for overall wellbeing, so it’s good to have daily doses. Need an instant pick-me-up? Buy someone coffee or tea because workday mornings always give us some grief. Grab a cup or two of the Sumiyaki or Blue Mountain No. 1 at UCC Mentore’s new café at Shang. Whether syphon, pour over, cold brew or espresso, these top-notch brews will get the morning off to a great start. Break bread with a bestie as good food and even better company give both of you a breather, especially on stressful days. Head out and treat your resident foodie to a cozy French-Filipino fusion brunch at Cafe Lyon or savory afternoon
at La Creperie.
CHILDREN EXPERIENCE MORE INJURIES, STRESS AND EVEN BURNOUT WHEN THEY SPECIALIZE IN ONE SPORT WHILE
crepes
into a fun way to strengthen your bond. Round out a productive day with a well-deserved pamper session, like getting your nails done at Nail Spa or enjoying a rejuvenating time at the luxurious Travertine Longevity & Wellness. “Just because” gifts are the best kind because they don’t need an occasion and are great surprises for giftees. Reliable spots for quick unique finds include Healthy Options with its diverse selection of good-for-you teas and snacks, and Lush for its luxurious bath bombs. Make it a clean sweep with robot vacuums from Cutting Edge and True Value—they’re cute and help you clean. Elevate those childhood friendship bracelets with all the charms from Pandora or check out MUJI’s embroidery service to customize everything from clothes to tote bags with initials, dates, or meaningful symbols. Take note: It’s exclusively available at Shangri-La Plaza. Catch a candle-lit concert that’s dedicated to making Mother Earth happy. Live at the Shang teams up with Viva Records for an Earth Hour music fest at the East Atrium. Upcoming artists Amiel Sol, Marielle Belleza, Michael Keith, CARLO, and Minimal Days are taking the stage on March 23, 6:30 pm. More information is available at www.facebook.com/ shangrilaplazaofficial. Make someone happy today. Shangri-La Plaza lists down all the ways
HEDCOR GIVES P16.8 M IN COMMUNITY SHARES TO DAVAO DEL SUR PROVINCE
HEDCOR, a renewable energy subsidiary of Aboitiz Power Corporation (AboitizPower), continues to contribute to the economic development of Davao del Sur with the release of over P16.8 million worth of community shares generated from the total attributable energy sales of its Sibulan A, Sibulan B, Tudaya 1 and Tudaya 2 hydropower plants from 2023.
“These funds will be instrumental in
illuminating streets across different municipalities in the province. Solar lights will be installed, ensuring the safety of our people during the night. This aligns with the province’s [advocacy of adopting] renewable energy, [fulfilled] in collaboration with Hedcor,” said Davao del Sur Governor Yvonne R. Cagas.
“We value relationships that empower communities and contribute to grassroots
progress,” said Hedcor President and COO Rolando G. Pacquiao.
Broken down, over P6.2 million each was given to the Provincial Government of Davao del Sur and the Municipality of Santa Cruz, while the City Government of Digos received P256,000.
Host barangays in Santa Cruz also received their shares, consisting of P1.5 million for Barangay Darong, P2.3 million for Barangay Sibulan, and P291,000 for Barangay Astorga.
“We look forward to collaborating with Hedcor in implementing projects that will drive positive change in the community,” said Santa Cruz Mayor Jose Nelson “Tata” Sala.
Last year, the local government units allocated their community shares towards enhancing the health services of their respective communities. This was achieved through enhancements at the provincial hospital and the acquisition of patient transport vehicles.
Hedcor has been generating renewable energy from run-of-river hydropower systems for more than 45 years. Aside from 22 hydropower plants located in Ilocos Sur, Mt. Province, Benguet, Davao, and Bukidnon, Hedcor recently added solar power to its portfolio through the San Carlos Sun Power Inc. (SacaSun) facility in San Carlos, Negros Occidental.
recovery and diversion programs, and plastic offsetting services for 2023.
Zuellig Pharma will work together with its clients, as the market authorization holder, to ensure accurate reporting and compliance with the law.
This collaboration with PCX is part of Zuellig Pharma’s commitment to ensure environmental sustainability in all areas of its operations.
“The partnership with PCX is important for us, as we work towards reducing our impact on the environment across our operations and supply chains, specifically with plastic waste,” said Jannette Jakosalem, Market Managing Director of Zuellig Pharma Philippines.
“This is part of our commitment to build a healthier and more sustainable future in the country and for all in Asia,” she added.
Just last month, Zuellig Pharma became the first and only organization in APAC and one of two companies worldwide in the Road Transport activity group to make it to the A-List for Climate Change by CDP. Zuellig Pharma was also awarded the Platinum medal from EcoVadis, the world’s most trusted provider of business sustainability ratings, for the third consecutive year in 2023.
Recently, Zuellig Pharma signed a power supply agreement with ACEN Renewable Energy Solutions (ACEN RES), the retail electricity arm of ACEN, to supply 100 percent renewable energy to power its two major distribution facilities in the Philippines—the Santa Rosa Distribution Center and Canlubang Distribution Center.
Hop
Sby PCX to Zuellig Pharma are the registration of the plastic packaging footprint, the
With the shift to using 100 percent renewable energy from ACEN, the distribution centers combined will reduce carbon dioxide (CO2) emissions by 10,600 tons each year.
& Egg-citing Gathering at Sheraton Manila Hotel
HERATON Manila Hotel invites guests to celebrate Easter in style with an array of eggciting activities at the Easter Fun Fair. Taking place at the hotel’s plug and play place, COLLAB on March 31, 2024, from 3 pm to 5 pm, this event promises a day of joy, laughter, and unforgettable memories for families and friends alike. Attendees are encouraged to don their best Easter Egg Hunt costumes for a chance to win fabulous prizes. With delightful surprises awaiting, including a magic show, party games, inflatable fun, and delectable treats, the Easter Fun Fair promises entertainment for guests of all ages.
As part of the festivities, Sheraton Manila Hotel is offering a special accommodation package from March 25 to April 1, 2024. Guests who book
a stay will enjoy a Deluxe Room for two adults, along with breakfast buffet at S Kitchen, and two complimentary tickets to the Easter Egg Hunt at COLLAB on March 31. Additional benefits include the option to upgrade to a Loft Room, indulge in a 60-minute Voyagers Massage at Shine Spa, or savor a sumptuous lunch buffet for two adults and two children below 12 years old.
“We are thrilled to welcome guests to Sheraton Manila Hotel for an egg-citing Easter celebration,” said Anna Vergara, General Manager at Sheraton Manila Hotel. “Our Easter Fun Fair promises to be a memorable event for families and friends, filled with laughter, games, and delicious treats. Combined with our special accommodation package, it’s the perfect opportunity for a city staycation filled with joy and relaxation.”
Tickets for the Easter Fun Fair at Collab are priced at P1,500 nett per person, with halfprice admission for children aged seven years old and below. Additionally, guests can enjoy a complimentary ticket to the Easter Egg Hunt Activity with a minimum spend of P2,000 nett at S Kitchen and Oori.
For inquiries and reservations, please contact Rose at 0917 8597496 or (02) 7902 1800.
Don’t miss out on the egg-citement this Easter at Sheraton Manila Hotel!
LAST March 7, 2024, the Philippine Chamber of the Pharmaceutical Industry (PCPI), the major industry group of Filipino-owned pharmaceutical companies, inducted its 2024 Board of Directors and Officers in its first General Assembly for 2024 that featured Director-General Dr. Samuel A. Zacate of the Food and Drug Administration (FDA) and Director-General Ernesto Perez of the Anti-Red Tape Authority (ARTA).
During the event, Dr. Zacate emphasized his goal of ensuring that FDA policies enable and empower the local pharmaceutical industry:
“We at FDA are committed to supporting PCPI and the local pharmaceutical companies by ensuring that FDA policies are updated to meet the local pharmaceutical industry needs and that industry-related processes are accessible and efficient,” said Dr. Zacate.
Perez also reiterated his commitment to support local pharmaceutical companies by working closely
with the FDA and the Department of Health (DOH) to streamline and expedite processes:
“Our aim is to leverage our collective strengths to pave the way for the rise of a Bagong Pilipinas. We are confident that through our unified efforts with FDA and PCPI, we can continue to empower the Philippine pharmaceutical industry to grow and contribute to the local economy,” said Perez.
PCPI’s newly inducted President Dr. Lloyd Balajadia added, “We at the Philippine Chamber of the Pharmaceutical Industry (PCPI) look forward to working together with FDA and ARTA to achieve our vision of a globally competitive and sustainable Philippine pharmaceutical industry that provides Filipinos with high-quality and affordable medicines.”
The newly inducted officers and board of directors comprise of representatives from Filipinoowned pharmaceutical companies.
Auto Tech and Mobility Association Kicks Off 2024 with First Roundtable Event
THE Auto Tech and Mobility Association Inc., a non-stock, non-profit organization dedicated to advancing innovation and collaboration within the Philippines’ auto tech and mobility sectors, is thrilled to announce its first Roundtable
ATM (Auto Tech and Mobility) event of the year.
Scheduled for March 21st, 2024 and to be held at the Asian Institute of Management - Dado Banatao Incubator, the gathering aims to spark meaningful discussions and create actionable paths toward the future of mobility.
This landmark event will feature keynote speaker Alan Cheah, a pioneer in Southeast Asia’s automotive industry, who has been instrumental in redefining the car buying and selling experience. With a passion for innovation and customer satisfaction, Alan led the creation of the CARSOME PJ Automall, the largest car showroom in Malaysia, and the CARSOME Certified Lab, a testament to the company’s commitment to quality. Alan’s previous role as CEO of GoCar Mobility earned the company the 2020 Frost & Sullivan Malaysia Car-Sharing Company of the Year award, demonstrating his visionary approach to urban mobility and sustainable transportation.
Joining the roundtable also is Dave Almarinez whose distinguished career spans across various sectors, leaving a profound impact on the Philippine and international business landscapes. As the force behind A Force Ventures Inc and PeekUp, Dave has pushed the boundaries of technology and venture capital. His tenure as the former undersecretary, president, and CEO of PITC showcases his global
engagement prowess, fostering significant trade relations and collaborations. An alumnus of top-tier institutions and a well-rounded individual, Dave’s contributions to the industry are invaluable.
Jayvee De Leon, CEO of Forent and a founding member of the Auto Tech and Mobility Association Inc., expressed his enthusiasm for the upcoming event, stating, “This roundtable is not just a gathering, but a cornerstone for building a future where technology and mobility converge to create smarter, more sustainable solutions for the Filipino community.”
Mark Saberola, Chairman and President of the Association, echoed this sentiment, “Bringing together leaders like Mr. Cheah and Mr. Almarinez, along with our vibrant community of innovators, embodies our mission to foster a platform where groundbreaking ideas can flourish. We are on the brink of redefining mobility in the Philippines, and it starts with these conversations.”
The roundtable is poised to be a melting pot of ideas, featuring collaborative discussions and unparalleled networking opportunities with professionals from the car-sharing, car marketplaces, and ride-hailing sectors.
Space is limited, reflecting the event’s exclusivity and the high caliber of participation anticipated. Stakeholders, innovators, and enthusiasts in the auto tech and mobility sectors are urged to secure their attendance by registering at autotechmobility.org.
Don’t miss this opportunity to be part of the dialogue shaping the future of auto tech and mobility in the Philippines.
For more information about Sheraton Manila Hotel, you can visit their website at www. sheratonmanila.com or follow their social media accounts on Facebook, Instagram, and Twitter at @ sheratonmanila. You can also reach them by phone at (02) 7902 1800 or 0917 859 7496. SHERATO N Manila Hotel invites everyone to an egg-citing Easter staycation in one of their premium rooms.
B6 Thursday, March 21, 2024 www.businessmirror.com.ph
O N behalf of the Provincial Government of Davao del Sur, Governor Yvonne Cagas (center) receives its community shares from Hedcor, led by its VP for Operations and Maintenance, Leo Lungay (2nd from left), with AboitizPower External Relations representative Theodore Bisnar (2nd from right).
FDA, ARTA commit to support local pharmaceutical industry IN the photo from left arePCPI Corporate Secretary Atty Dave Escalona; ARTA Director-General Ernesto Perez; FDA Director Joyce Cirunay; FDA Director-General Dr. Samuel Zacate; PCPI President Dr, Lloyd Balajadia Zuellig Pharma takes action vs plastic waste with partnership L EADING healthcare solutions company Zuellig Pharma continues its journey toward sustainability as it sealed a partnership with Plastic Credit Exchange (PCX) to ensure compliance with the Extended Producers Responsibility Act of 2022 (EPR Law). The EPR Law requires obliged enterprises to recover and divert up to 80 percent of their plastic packaging waste by 2028. PCX is a Producers Responsibility Organization that works to mobilize enterprises and businesses to take responsibility for their plastic footprint by providing comprehensive solution sets. Upon signing of the agreement, PCX included Zuellig Pharma in its membership roster and reported to the Department of Environment and Natural Resources (DENR) as required by the law. The solution sets from PCX follow the hierarchy of plastic reduction, reuse, recycling, and offsetting, with the ultimate goal of contributing to the overall reduction of plastic waste and making sure it feeds the circular economy. Among the services that will be provided
into Easter Fun
BERLIN—The German-Philippine Business Forum on March12 marked a key milestone in boosting the global business ties between Germany and the Philippines.
The German-Philippine Chamber of Commerce and Industr y (GPCCI) and the Asia-Pacific Committee of Ger man Business (A PA) and t he Depar tment of Trade and Industr y’s Philippine Trade and Investment Center (DTI-PTIC), hosted the landmark event, graced by President Ferdinand R. Marcos Jr
“As the biggest economy in the European Union [or EU, in g ross domestic product] and popu lation, and a global force in technology and innovation, Ger many is certainly one of the countries where we look for ward to f ur ther fostering strong business par tnerships and collabor at ions between our two countries,” said Marcos Jr in his keynote speech “We are g ratef u l for the interest of Ger man companies to suppor t the Philippines’s commitment to sustainability and climate resiliency.”
T he president shared valuable insights into the promising linkage between the two nations. He highlighted the importance of Germany as a key partner in the EU, then outlined policy reforms and key legisla-
tions aimed at making the Philippines a more attractive destination for foreign investors.
H i s add ress u nde r scored t he Philippines’s commitment to being a dependable partner in fostering strong business partnerships and collaboration.
Meanwhile, the forum coincided with the 70th anniversar y of Philippine-German diplomatic ties. Notably, it saw the participation of distinguished guests from the German side such as APA chair Dr Roland Busch who is the CEO of Siemens AG, and Parliamentary State Secretary Stefan Wenzel of the German Federal Ministr y for Economic Affairs and Climate Action—both of whom emphasized the commitment to deepening bilateral trade relations.
A high point in the forum was the signing of eight strategic agreements between the Philippines and leading German companies. These accords, encompassing three letters of intent, two memoranda of agreement, and three memoranda of understanding, aim to revolutionize Philippine sectors such as healthcare, agricul-
a course for t he f ut ure. He also cong r at u lated our cou nt r y for h av i ng t he hig hest nu mber of a rrivals among t he Sout heast Asi an nat ions to Japan last yea r For his part, Executive Secretar y Lucas Bersamin delivered the government’s response and led the toast in honor of the health of the emperor, continued peace and prosperity of the Japanese people, and the lasting friendship between the Philippines and Japan. There was also a karate demonstration and the performance of the Okinawan traditional dance “Ryukyu buyo.” Koshikawa also took the opportunity to announce the completion of his tour of duty in the Philippines for another posting. Guests then enjoyed the gastronomic delights of the Asian count r y’s c uisi ne, pol ished sake, and beer ser ved by Japanese and Filipino chefs.
t ure, manufact uring, and d ig ital technology.
The forum culminated in a panel discussion led by GPCCI president Stefan Schmitz, Ayala Group AC Motors CEO Jaime Alfonso Zobel de Ayala and Bosch Southeast Asia’s president Vijay Ratnaparkhe. The panel explored topics on Philippine investment climate, ease of doing business, discussion of key sectors, and the EU-Philippine Free Trade Agreement, among others.
“We are thrilled to obser ve the dynamic trade and investment connections
AMBASSADOR Uddin (lef t) and Secretary Mana o
By Malou Talosig-Bartolome
THE foreign ser vice academies of the Philippines and Bangladesh have agreed to establish an exchange of diplomatic training programs and publications.
Secretar y of Foreign Affairs Enrique A. Manalo and Ambassador F.M. Borhan Uddin signed the memorandum of understanding (MOU) between the Foreign Ser vice Institute (FSI) and Bangladesh ’s Foreign Ser vice Academy on March 6. Manalo, who also chairs the FSI’s board, turned over a book compilation of the institute’s latest publication, which marked the memorandum’s initial implementation. It will provide the framework for cooperation between the two diplomatic institutions.
Assistant Sec reta r y Franc isco Noel R. Fernandez III who is the FSI’s director-general said the South
Asian countr y has similar arrangements with 31 others: “We’re hoping that, with the [training sessions exchange among our young diplomats, t he f riendship and cama raderie that they will gain will be beneficial when they eventually] become ambassadors.”
For his part, Uddin lauded the MOU signing, as Manila and Dhaka are marking the 50th anniversar y of their diplomatic relations’ establishment.
He said Bangladesh is negotiating with the Philippines on MOUs for ser vice sector cooperation and amendments to the v isa-requirement waiver among others.
FSI is t he resea rc h and t ra in ing off ice of DFA. Establ ished in 1976, it reg u la rly interacts w it h d iplomat ic academies of ot her countries in order to lea r n and sh a re best pract ices i n d iplomat ic lea r n i ng and resea rc h
AMBASSADOR Fluss personally visits one of the shelter repair kits recipients.
THE Embassy of Is r ael i n the Philippines and Israel’s agency for international development cooperation MASHAV, in partnership with Caritas Philippines (Archdiocese of Nueva Segovia, Vigan and Diocese of Laoag), donated shelter repair kits comprised of roofing materials to families and communities affected by Typhoon “Egay” (international name Doksuri) in Ilocos region. Ambassador Ilan Fluss personally visited the communities in Ilocos Sur and Ilocos Norte, then met with the project’s beneficiaries. A round 50 households received the said kits from the embassy, which were used to repair their houses wrecked by the typhoon in July 2023 Fluss said: “I am happy to meet the families, and know their stories of hope and resilience. It was heartwarming to [hear their accounts.
May Israel’s] humble assistance help them rebuild their homes and help them get back on their feet.”
The ambassador also thanked the Ilocanos for their warm hospitality: “I also extend my gratitude to Caritas Philippines for partnering with us on this project. The embassy looks for ward to more meaningful initiatives with you.”
For the deputation, the project was another milestone in the strong relations between Israel and t he Catholic Church, which was established 30 years ago.
The official working visit of the Israeli ambassador to the Ilocos Region also includes separate meetings with Governor Matt Manotoc of Ilocos Norte and Governor Jerr y Singson of Ilocos Sur, together with Mayor Germelina Goulart of Cauayan City. The discussion focused
on their respective provinces and areas of cooperation, especially on innovation and technology, water, and agriculture.
The envoy also paid a courtesy visit to Mariano Marcos State University’s (MMSU) president Shirley C. Agrupis.
“Israel [has earned the title of ‘The Start-Up Nation,’] housing cuttingedge research and development in science and technology, medicine, agriculture, security, and virtually ever y other field in today’s modern world,” Dr Agrupis said.
Fluss discussed possible areas of collaboration with MMSU in agriculture and education, among other sectors. He also gave a briefing on the Israel-Hamas war Another highlight of the visit was the “International Holocaust Commemoration” and the opening of an exhibit led by the Department of Education at Mabilbila Integrated School in Ilocos Sur There, Fluss reiterated the importance of fighting anti-Semitism, remembering the Holocaust, and ensuring that it will never happen again.
“Unfor tunately, the world is still not safe for the Jew ish people. Let us remember the murderous attack of the terror organization Hamas against Israel last October 7, exactly 5 months ago. T hat day, 240 civ ilians were brutally kidnapped to Gaza, [w ith hundreds of them still held in captiv ity] and more than 1,200 Israelis were murdered—the biggest number of Jews murdered in one day since the Holocaust,” t he Israel i d iplomat shared w it h the students.
Fluss’ official work ing v isit to the Ilocos Region was from
that have been reinforced between Germany and the Philippines through this significant visit,” said Schmitz “Representing the interests of the German-Philippine business community, we are honored to support this historic event and eagerly anticipate welcoming potential German investors to the Philippines.” In 2022, Germany ranked as the Phi l ippines’ 12t h largest trad ing partner 10th export market, and 15th import supplier Moreover, in 2023 the DTI’s Board of Investments reported Germany as a top source of foreign investments, with commitments of P393.28 billion, further solidifying its status as the Philippines s top trading partner in the EU. Thursday, March 21, 2024 envoys.expats.bm@gmail.com B7 Envoys&Expats BusinessMirror German-Philippine biz forum with PBBM highlights stronger trade, investment ties Bangladesh signs MOU thru DFA for diplomatic academies exchange Israel sends repair materials to typhoon-hit Ilocos Region Japan holds grand fete for emperor, as envoy bids ‘sayonara’ to PHL THE annual National Day Reception of Japan to celebrate its emperor’s 64th birthday was hosted by former ambassador Kaz uhi ko Koshi kawa on Februar y 23 H i s Ma j esty Na ruhi to—t h e Emperor of Japan—acceded to the Chr ysanthemum Throne on May 1, 2019, which marked the beginning the “Reiwa” era, following the abdication of his father Emperor Akihito. Top government officials, lawmakers, d iplomats, tycoons and friends of the Japanese Embassy comprised more than 1,000 invited guests at the Grand Hyatt. In hi s welcome rema rks, Koshi kawa reflected on t he d ramat ic g r owt h of Japanese- Phi l i pp i ne relat ions. T he envoy related t he v i sits of President Ferd i nand R. Ma rcos Jr to Tokyo and Pri me M i n i ster Fu m io K i shida to Man i la, as he hig h l ig hted t he ir sign i f icance i n reaff ir m i ng f riendly relat ions and sett i ng
PRESIDENT Marcos Jr. addresses the German business communit y. PRES DENTIAL COMMUNICATIONS OFFICE
CONSUL Genera For tune Ledesma (from lef t) Deput y Majorit y Leader Duke Frasco, Tourism Secretary Christina Frasco, Vida Villanueva and the columnist EXECUTIVE Secretary Lucas Bersamin (from lef t) eading the toast Chief Justice Alexander Gesmundo, then-ambassador Kazuhiko Koshikawa, House Speaker Mar t n Romua dez and Apostolic Nuncio Charles Brown THE columnist (from lef t) Representat ve Odie Tarriela and Commodore Jay Tarriela “RYUKYU” buyo, an Okinawa Dance (STANDING, from lef t to right) Former Ph lippine Retirement Authorit y CEO Cynthia Carrion Lett y Laurel and Ambassador Macario Laurel (seated, from ef t) Joy Virata and former prime minister Cesar Virata K ARATE demonstration
March 6 to 8, 2024.
S
EN. Christopher Lawrence “Bong” Go, chairperson of the Committee on Sports, said one of the problems in game fixing is the reluctance of witnesses to come forward and present proof that games are indeed being manipulated.
Despite this, Go said the Games and Amusement Board (GAB) has already filed 32 cases against players, including those from the professional basketball leagues since 2021.He said the National Bureau of Investigation had also pursued cases in 2019 due to the willingness of witnesses to testify.
“We hope to uncover allegations
PBy Josef Ramos
American Kay Koroma’s assistant trainer DJ Zamora will be handling the four-time Southeast Asian Games champion in Manila. “We will be finishing our training later here in Tagaytay before we go to Manila tomorrow.
So far, it’s the training
BEditor:
Bong Go urges game-fixing witnesses to surface
of game fixing in this hearing. Last hearing, we found out that referees in some leagues received small allowances. This is one aspect we should also look into,” Go said. The senator said the committee had conducted the hearing to study possible amendments to the law to preserve the integrity of the games as well as elevate the credibility and image of Filipino athletes.
Marcial wraps up Tagaytay training, all set for battle against Thai slugger
program of coach Kay that we followed,” Princess said, referring to Olympic amateur coach Koroma who trained many Olympians before like world champion Shakur Stevenson.
“Coach K sent coach DJ Zamora to supervise Eumir’s training.”
Marcial, the first Filipino boxer to qualify for the Paris Olympics, is undefeated in four bouts with two knockouts as a professional fighter.
He bagged the silver medal in the light heavyweight final match after losing via split decision to China’s hometown bet Tuohetaerbieke Tanglatihan at the Hangzhou 19th Asian Games in China.
He spent most of his training and conditioning in Las Vegas before returning to Manila on March 13.
Philippine Olympic Committee (POC) President Abraham “Bambol” Tolentino, meanwhile, was impressed with what he saw during Marcial’s training at the Combat Arena, saying that the Zamboanga City warrior was physically and mentally prepared.
“Eumir [Marcial] is really tough and he’s ready for action after I saw his training here in our Combat Arena,” Tolentino, also the Tagaytay City mayor, told BusinessMirror on Wednesday. “He’s very sharp, fast and those punches are solid.”
Marcial’s Tagaytay training camp was arranged by Tolentino prior to his arrival in Manila last week.
Sinam, 28, has a 23-13 record with 19 knockouts.
The other Filipino boxers who have qualified for the Paris games are women’s featherweight Nesthy Petecio, a silver medalist in Tokyo Olympics in 2021, and women’s flyweight Aira Villegas.
EVERLY HILLS, California—For 13 straight bouts over seven consecutive years, Canelo Alvarez has refused to fight another Mexican. The biggest star in boxing said he respected his nation and its top talents too much to deliver any setbacks to their careers.
Alvarez has changed his mind, and the Guadalajara native will step in the ring on May 4 with Tijuana’s unbeaten Jaime Munguía for his latest Cinco de Mayo weekend showdown.
Alvarez has realized there’s another way to show his respect for his fellow Mexican pugilists: He can occasionally give them a once-in-a-lifetime
Volleyball VIP
THE UP Fighting Maroons Men’s Volleyball Team is still winless, one game day into the second round. But head coach Sergio “Vip” Isada isn’t dismayed, nor worried. Nobody really expected the University of the Philippines male netters to go out swinging in Season 86, anyway.
UP’s volleyball program can be said to be in transition, or in rebuilding mode. Practically the same team, but there’s a new head coach and coaching staff, a new program, and for the first time this season, a program director for the sport for the first time ever in the University. Following the establishment of the Office of Athletics and Sports Development (OASD) in UP, which saw former UP Men’s Basketball Team program director Bo Perasol assuming the first ever position of OASD Director, the move to organize or reorganize programs in various sports followed.
UP Volleyball now has Oliver Almadro, volleyball authority and champion coach in both amateur and professional leagues, as program director. He has brought
Siblings go full throttle
LJ stead
steady on homeward nine, moves two strokes clear
LLLOYD GO fired a two-under 70 on Wednesday to seize a two-stroke lead halfway through the ICTSI Palos Verdes Championship at Rancho Palos Verdes Golf and Country Club in Davao.
Go started on the back nine with a 36 and had a solid run on the front, salvaging four shots in two critical holes and draining two more birdies to claim the solo lead at seven-under 137. This moved him 36 holes away from scoring a breakthrough victory on the Philippine Golf Tour.
He highlighted his round with a scrambling par on the par-5 No. 1 and a lengthy birdie putt on No. 4. He sent his ball out of bounds) on No. 1 but managed to make par, then nailed a long birdie putt on No. 4.
“That’s probably four shots saved,” said Go.
Assisting him in his title quest is his mother-caddie Lily, whose presence provides both support and a lesson in patience for the young campaigner.
Go, priming up for a tournament in Japan next week, credited his short game for his current lead, emphasizing his ability to chip and putt effectively
despite errant drives.
“My target is to drive into the fairways but I hit it everywhere. So my short game really saved me, I chipped and putted well,” said Go, who also birdied Nos. 5 and 8 but holed out with a bogey on the last hole.
Expected to put pressure on him are Ira Alido, who shot a 71, and veteran Angelo Que, who waxed hot in the last nine holes at the front to put himself at joint second at 139.
“I was still trying to re-familiarize myself with the course, which I haven’t played in 20 years. I wasn’t sure which club to hit,” said Que of his first-round performance marked by four birdies but marred by two bogeys and a double bogey.
After a two-birdie, two-bogey card at the back, he found his range, rhythm and touch at the turn, rattling off three straight birdies from No. 1. “I had a good rest that’s why I played better,” said Que, 45, who tied for 48th in the International Series Macau last week.
Alido, eager to bounce back from a joint 28th place finish in the Apo Golf Classic last week, also rebounded strong from a backside 37 with an eagle on No. 1 and bucked a mishap on the next with three con
LK keeps control in women’s fie
secutive birdies from No. 3.
But the Bacolod leg winner last year wavered with back-to-back bogeys from No. 6 and settled for a 34-37.
Despite the late setback, Alido remains motivated to contend for the title in the 72-hole tournament organized by Pilipinas Golf Tournaments, Inc., alongside Go and Que.
“It’s going to be a back-and-forth battle. Putting will be key and I hope to have a good finish this week,” said Alido, who hit a superb 4-iron second shot from 230 yards to the edge of green on No. 1 and chipped in for eagle. With 36 holes to play, at least four other players stayed in the hunt, including Ramos, who despite a 73 stood just three strokes behind at 140 for solo fourth.
Michael Bibat, battling hand injury the past two weeks, put in a 69 spiked by three straight birdies from No. 11 as he
ld
to redeem herself after a disappointing 10th place finish in her pro debut in the Apo Golf Classic last week.
yed th in week m ed nlve with to hind o LK GO tries to ho d on n the final 18 ho es. BERNARD TESTA
OIS KAYE GO moved two strokes clear over Chihiro Ikeda despite conceding two precious shots on the last hole, posting a 71 and positioning herself on the brink of a breakthrough victory in the ICTSI Palos Verdes Championship on Wednesday in Davao.
Go was two-under through 17 holes but yielded a stroke on the par-4 No. 18, which Ikeda birdied from 16 feet.
Go carries a two-shot advantage at 143 into the final round.
Ikeda produced a two-birdie, two-bogey round for a 72, keeping her position at second with a 145, while young Laurea Duque grabbed solo third at 147, also after matching par 72.
Despite securing a two-shot cushion, Go remained cautiously optimistic about her chances, acknowledging the presence of formidable rivals.
“There are great players out there and anyone can shoot a good round tomorrow,” she said, determined to play steady in the final 18 holes of the P750,000 championship.
“I’m trying to focus on myself, how I handle my emotions,” said Go, eager
Canelo explains decision to fight Munguia
opportunity to knock him off. “Yes, I’ve said I don’t want to fight Mexican fighters,” Alvarez said Tuesday at the Beverly Hills Hotel. “But someone respectful like Munguía, someone who has earned this fight, it’s something that I’m glad we were able to make happen.... This is a great source of pride for me because it’s Mexico all over. I’m proud of Munguia to come all the way he has.”
Alvarez (60-2-2, 39 KOs) and Munguía (43-0, 34 KOs) will meet in Las Vegas for the undisputed super middleweight title. Alvarez has held all four major belts at the weight since 2021, while Munguía only moved up to 168 pounds last year. AP
“My goal is to be at peace with myself, where I am in my game, and try to commit to my swing changes and swing thoughts,” said Go, reflecting on her performance over the past two days.
Ikeda, a former Order of Merit winner, aims to snap a long title drought on the Ladies Philippine Golf Tour.
Meanwhile, Duque, buoyed by her late birdie on No. 16, remains hopeful of clinching the championship.
“Both LK and Chihiro are really good players. I just want to play my game and see what happens,” said Duque, who placed sixth in Apo. “This is only my second professional event, if it comes, then I would be very thankful.”
Apo leg winner Sarah Ababa blew a two-under card after four holes as she faltered with four bogeys against another birdie in the next 10 holes, finishing with a 73 for joint fourth with Harmie Constantino, who also carded a one-over card at 148, five strokes off the leader.
Florence Bisera struggled with a 75 for a 149 while Miya Legaspi fought
back a mix of trusted and dynamic mentors of the net to the program. Vip Isada, Jarod Hubalde, Nicole Tiamzon and Carlo Cabitingan are back in UP. Their first year together is only the beginning. There’s time to make hay farther down the line. Wednesday, the 10-time rally racing champ, former head coach of Via Mare in the Philippine Superliga, longtime UP volleyball coach and a legendary setter himself when he played for UP varsity in college, showed no furrowed brows nor any sign of dejection after the UPMVT dropped its 8th consecutive game against National University in the opener.
back with a 73 to tie Marvi Monsalve and Mikha Fortuna, who slipped with 75 and 76, respectively, at 150. Mafy Singson recovered from a disastrous first round 83 with a 71 to improve to 11th place with 154, behind 10th-running Gretchen Villacencio, who assembled a 151 after a 75.
Chambers gets boost from mentor Cone ahead of first season with FEU
SEAN CHAMBERS is looking to reinforce a winning attitude as Far Eastern University tries to turn things around in the UAAP men’s basketball tournament. Chambers revealed he signed a fiveyear deal as FEU coach, but declined to provide specific targets for the team in his first season.
Tapped to replace Dennis Miranda, Chambers is confident he can help the Tamaraws quickly move on from the 3-11 season that saw them wind up seventh in the eight-team field.
Chambers, still in Sacramento and set to join the Tamaraws in two weeks, is also glad to hear words of encouragement from mentor Tim Cone.
“He [Cone] feels that I will do great things,” Chambers, a six-time PBA champion, said. “Bringing the Alaska mentality to FEU? Absolutely, yes. At the end of the day, we are going to walk on the court as if we can beat everybody we play. Our mindset is we’ll find a way.”
“He said to me: ‘No doubt you are going to be challenged but I know you will be up for it. I’m ecstatic for you. You will do either school proud with the culture you’ll bring. I can’t wait to see the results of your impact on not
He smiled instead with the wisdom of a sage, as coolly as if he were still behind the wheel of his Honda City, doing wonders with it that made him two-time National Rally Car Driver of the Year. “We have a three-year program,” he said. “What we’re doing right now is assessing, gauging [strengths and weaknesses], training. We’re looking at the mindset of this team and improving the chemistry. We’re focusing on still improving skills and improving teamwork.” He’s not forcing it. Balance, he says, is what’s needed so that everyone in the team can work together and produce results. He is already looking forward to the post-season.
Once the tournament ends, they will immediately start preparing for Season 87. With more preparation, there is time to focus on going back to basics: movement, spacing, improving individual skills. UP plans to join tournaments like the Uni Games and those that the Philippine National Volleyball Federation (PNVF) has in store. The UPMVT which has been at the bottom of the UAAP Men’s Volleyball standings in Seasons 81, 85 and this one, so far, will hopefully find new ways to win. Coach Vip, whose last season with the team has been more than ten years ago he can’t even remember, has fresh hopes for a resurrection. And redemption.
just to their sports program but to their overall education.’ I’m thankful to Tim.”
Chambers played in the PBA for Alaska from 1989 to 2001—he was part of the 1996 PBA grand slam-winning team under Cone. Alaska left the PBA in February 2022, with Converge acquiring its franchise.
The FEU coaching staff has Chambers’ former Alaska teammate Johnny Abarrientos, former Tamaraws head coach Bert Flores, Abarrientos, Vic Pablo and Denok Miranda.
“The goal is to always win—and that’s why we play the game. At the end of the day, we’re going to outwork everybody. We’re going to give it 110% every time we step on the court to represent the university and all their fans the right way,” Chambers added.
“I really believe they have a good foundation. We just need to improve on minor details and then go from there,” Chambers, who worked before Fern Bacon Middle School, explained. “I have heard nothing but positive things about the FEU family.”
The 59-year-old 6-foot-2 forward has a daughter Olivia, a senior in California State Monterey Bay, and son Andrew, an upcoming University of Oregon student in the fall. Josef Ramos
Has the game changed? I asked him. “The game’s the same. It’s the rules and the equipment that changed.” He cites the volleyball, for instance. It’s lighter, he noted. “It’s not as powerful, but it’s easier to control.”
He has also observed that players communicate differently with each other and with the staff these days, compared to the most recent time that he was head coach. “Everybody is on his cellphone now. There’s not much conversing or discussing. You share information, and that’s it.” But they adapt and the players do their best. He’s good with that, he said. Although multi-titled and legendary on the rally trail and still involved with motorsports even to this day (Coach Vip heads the Motorsports Development Program of the Automobile Association Philippines (AAP), the countries oldest and biggest auto club), he will always be in love with volleyball. The former national volleyball player and national coach is energized with the challenge of taking on a whole new generation of volleyball players and sharing his passion for the game with them.
Both Coach Vip and his wife Norma both played varsity volleyball for UP, you know. So volleyball will always be his great love. And he’ll always want to share it with anyone who cares to learn.
Sports BusinessMirror B8 THURSDAY, MARCH 21, 2024 mirror_sports@yahoo.com.ph
Jun Lomibao
EUMIR MARCIAL is ready to rumb e. L J GO moves to seven-under 137 BERNARD TESTA
ARIS bound light heavyweight boxer
Felix Marcial is now in top fighting condition, ready to take on Thai slugger
Sinam on Saturday in their eightrounder main event bout at the Ninoy Aquino Stadium. After eight days of training and sparring sessions at the Combat Arena in Tagaytay City since arriving from Las Vegas, the 28-year-old Tokyo Olympics bronze medalist is set to arrive in Manila on Thursday as they officially wrapped up their one-week training camp in Tagaytay. According to Marcial’s wife Princess, also a former amateur fighter,
Eumir
Thoedsak
three birdies from No. 11 as he moved from joint 15th to a share of fifth at 141 with Keanu Jahns and Reymon Jaraula, who carded 70 and 72, respectively CANELO Alvarez hasn’t fought a Mexican opponent since May 2017 when he beat Julio César Chávez Jr.
& Fitness
Editor:
Experts say shunning shingles can put one’s health, life at risk
By Rory Visco Contributor
SEVERAL years ago, the host of a popular late-night show in the US said he had shingles once and immediately, the female guest somewhat referred to shingles as a form of STD or sexually transmitted disease.
Of
Shimmering facts about shingles CONTRARY to the late-night show guest’s belief, shingles is definitely not a disease caused by unsafe copulation. Also known as “Herpes Zoster,” shingles is
years later. It is also a painful
debilitating viral infection that
may result in seri-
complications, and may put to risk the health of many who suffer from it, if unattended properly.
Infectious disease specialist Dr.
Rontgene Solante said that once the virus infects the body, it does not go away and will stay there and reactivate once the person reaches a particular age group or when the body’s immune system weakens. “You might ask where does the virus hide in the body. Well, it’s really an intelligent virus because it hides in the body’s central nervous system,” Dr. Solante commented in his presentation during the launch of the “Sabi Nila: The Truth About Shingles” nationwide awareness campaign organized by global biopharma company GSK and several health experts.
He cited global data which showed the incidence of zoster increases with age. Although those aged 30 or 40 years may be vulnerable to shingles, once one reaches the age of 50, the risk increases exponentially. “If you are aged 50, 60, or 70 and 80 years old, you
are also prone to the complications of zoster, which is PHN or Postherpetic Neuralgia that can extend for a longer period of time.”
Dr. Solante said that before, they thought that age may be a triggering factor to reactivate zoster or shingles, but there are also other conditions, especially for those aged below 50 years old. These include chronic respiratory condition, or those with asthma, smokers, COPD or chronic obstructive pulmonary disease, diabetes, those infected by Covid-19 due to decreased immune response, HIVAIDS, auto-immune disease like rheumatoid arthritis, steroids use, those with chronic renal disease.
“These are the underlying condi-
TRAINING FUTURE HEALTHCARE LEADERS
tions where people don’t need to be 50 years old and above to have shingles,” Solante averred.
Manifestations, complications of shingles
THERE are several stages, Dr. Solante said, before the symptoms of shingles are felt. There is the “prodromal” stage, which is before the appearance of the shingles rash. This is where the patient suffers from headache, sluggishness, and to some, loss of appetite, and then an abnormal sensation on the site of the rash.
After that is the acute phase, which he said will last two to four weeks, and this is the time that patients will think it’s shingles because of the presence
of a vesicular rash, which appears on only one side of the body. “It can’t appear on two sides of the body because it involves a specific area of the body’s nerve, and then associated with severe pain. Once the rash appears, the level of pain intensifies where patients will even find it difficult to dress up or do household chores,” Dr. Solante explained.
Then after one month, there comes subacute herpetic neuralgia (SHN), which comes with a tingling sensation at the rash area, which can be so disturbing that the patient cannot sleep or move with ease or can even lead to depression.
“The pain can really affect the normal living function of a patient, and the shingles complication can extend beyond three months or what we call PHN, featured with indescribable pain, with no treatment since the pain can be abated temporarily, which can last, for some, even for years,” Dr. Solante emphasized. Patients are also advised to refrain from touching or worse, scratching the surface of the rash for it might cause some deformities or scar in the skin, and shingles is really beyond the appearance of rash. “When we have patients with shingles, we just don’t talk about the rash but also the complications, and some patients need to be hospitalized because of those complications.”
There is also the Herpes-Zoster
Ophthalmicus which affects the nerve endings of the eyes, which may appear as lesions around the eye. But the danger there, Dr. Solante noted, is that it can also cause blindness in some patients and is quite difficult to treat. Other complications of zoster are inflammation of the brain or encephalitis, the Ramsay Hunt Syndrome or the paralysis of half of the face, which can cause distortion in hearing, and happens mostly on the elderly, Bell’s Palsy or weakness of one side of the face, or even cardiovascular/cerebrovascular events.
“There is now a direct correlation between shingles and stroke because the virus can also penetrate the blood vessel where it will transfuse the brain. One may not be hypertensive; it’s really about the virus causing the stroke that is common now in the above-50-year-old bracket,” Dr. Solante said.
Shingles have many other effects that may not be really visible to others like lack of sleep, no enjoyment of life because of limited mobility caused by pain, scars in the face that may cause embarrassment, performance of daily general activities, mood, working conditions, social relationship. “These are beyond the rash, beyond what we know about shingles. We need to know things that can help bring back life,” Solante averred.
See, “Experts,” C
Asian Hospital holds its 8th commencement exercises, launches heartthrobs
PGraduation rites A TOTAL of 21 physician graduates from Internal Medicine, Pediatrics, Adult Critical Care Medicine, Advanced Minimally Invasive Surgery and Breast Surgery participated in the 8th Residents’ and Fellows’ commencement exercises together with their parents at The Palms Country Club last March 14, 2024. The commencement speaker was Muntinlupa Mayor Rozzano Rufino “Ruffy” B. Biazon who lauded the graduates for their “dedicated years of hard work, sacrifice, and unwavering commitment to the noble pursuit of healing and caring for others.”
“While your residency at Asian Hospital may be coming to an end, your journey as medical professionals is only just beginning. The road ahead may be challenging, filled with obstacles and uncertainties but I have no doubt that each and every one of you possesses the resilience, determination and compassion needed to overcome any obstacle that may come your way,” he said.
Dr. Beaver Tamesis, Asian Hospital President and CEO, commended the graduates for their determination and dedication to achieve their goals, noting that they started their residency and fellowship “during the depths of the pandemic.”
“The hospital did well during this time. You helped patients during this difficult time and we were lucky to have you. We are eternally grateful that all of you went through that period with us,” Dr. Tamesis said.
Dr. Madeleine Grace Sosa, Chair of the Medical Training Program
Committee, pointed out that it was in 2014 that the Asian Hospital management decided to the take the lead in the “formation of training programs as the launching point for the new generation of medical professionals, to teach and train graduates of medicine to continue the legacy of excellence in healthcare.”
“Medicine is a stressful career field but the opportunity to pass on what you know to new doctors can be an extremely rewarding experience. In the near future, we look forward to more training programs in our hospital. As we reach the third decade of Asian Hospital, we will be prepared to see our trainees coming back to serve our community. We will continue to build an academic environment where culture of learning and teaching continue to predominate,” she said.
Speaking on behalf of the graduates, Dr. Rachelle Anne Cruz said she and her fellow graduates did not expect to be in the midst of a pandemic but said the experience made them resilient, strong and adaptable.
“I would like to believe that the past three years were a breeze, but it was not. Yet, through it all, we’ve persevered, come out stronger, wiser and more resilient. We are usually called the generation of millennial doctors but as I reflect, I believe that we are also a generation characterized by our deep sense of empathy and social
consciousness,” she said.
“We understand that healthcare is not just about treating disease but it’s also about caring for the whole person and addressing the social element of health that impact their well-being. We are a generation full of empathy and compassion for our patients and recognizing our ability to connect on a human level is just as important as our medical knowledge,” Dr. Cruz added.
For his closing remarks, Dr. Jose Acuin, Asian Hospital’s Chief Medical Officer, shared a wise Japanese saying which said the reason to live consists of four things. The first thing is that you need to do something that you love doing. Secondly, you should be good at that something that you love doing.
Third, that something should be something the world needs. Lastly, that something you are good at, that you love doing and what the
world needs, is something you should get paid for.
“It is important that you find your way and I hope that seeing your parents, seeing the joyful lives that they live, your significant other, will give you the inspiration as well to do the same,” Dr. Acuin said. Heartthrobs launch
TO encourage the older population to have their heart health checked, Asian Hospital and Medical Center recently launched a campaign called YourHearthrobs@AsianHospital. The intended audience of this social media campaign is the younger generation who can convince their parents and grandparents to have their hearts checked.
Data from the Philippine Statistics Authority indicated that in 2023, heart disease is the leading cause of death among Filipinos with ischemic heart disease top-
ping the cause of death. This is followed by cancer and cerebrovascular diseases.
“People nowadays rely heavily on social media to know more about certain diseases and the tests to get. However, the disadvantage is not all information on social media is correct so we, as experts in this field, want to help in bridging gaps and prevent misinformation,” stated Hennesy Lou Miranda, Director for Marketing and Patient Experience at Asian Hospital.
To bridge this information gap, Asian Hospital will tap “Heartthrobs” or heart experts to seed heart health information on various social media platforms. They will also be tapped to give Wellness Talks at community and corporate events; convention speaking engagements as well as media engagements. The Corporate Affairs Team will provide the
heartthrobs with the necessary media training.
Three heartthrobs have so far been recruited for this task: Dr. Lauren Kay Evangelista, Dr. Jaime Alfonso Manalo Aherrera, and Dr. Michael Joseph Reyes. Dr. Evangelista’s advocacy is to improve heart failure care and outcomes in the Philippines through multiprofessional and collaborative care. An active consultant of Asian Hospital, she is one of the five heart failure specialists of the Philippine Core Member of the Council of Heart Failure in the Philippine Heart Association.
Dr. Aherrera is an interventional cardiologist at Asian Hospital. He was recognized as the Most Outstanding Fellow in Training by the Philippine Hospital Association and was awarded as Outstanding Young Scientist by the National Academy of Science and Technology Philippines.
Dr. Reyes got his interventional cardiology fellowship at the University of the Philippines-Philippine General Hospital and is an active consultant of Asian Hospital. He is presently the Training Officer of the Asian Cardiovascular Institute Fellowship Program.
“We are very optimistic that with the help of our three heartthrobs and the younger generation, parents and grandparents will realize the need to have their hearts checked on a regular basis,” Miranda said.
Anne
Health
BusinessMirror Thursday, March 21, 2024 C1
Ruth Dela Cruz
REMIER
institution Asian Hos-
the future of healthcare
the
healthcare
pital and Medical Center is preparing for
in
country with the recent conduct of the 8th Residents’ and Fellows’ commencement exercises and the launch of “Heartthrobs.”
DR. Beaver Tamesis, President and CEO, Asian Hospital and Medical Center
THE Heartthrobs of Asian Hospital and Medical Center—Dr. Jaime Alfonso Manalo Aherrera, Dr. Lauren Kay Evangelista, and Dr. Michael Joseph Reyes
DR. Jose Acuin, Chief Medical Officer, Asian Hospital and Medical Center MUNTINLUPA City Mayor Rozzano Rufino “Ruffy” B. Biazon
course, the host vehemently denied that shingles is
STD.
zoster virus, the same virus that can cause chickenpox. Health experts
that those who have had chickenpox before
those who
contract shingles
virus
nerve
an
caused by the varicella-
said
are
may
since the
lies dormant in the
tissue and may resurrect several
and
when overlooked,
ous
DR. Rontgene Solante speaks about shingles
Thursday,
Health& Business
Muscle strength can be maintained by eating healthy, exercising regularly
By Rory Visco | Contributor
THE muscles in our bodies are generally soft tissues and are essential tools to keep the body moving, whether you’re doing regular exercises at the gym or running full marathons.
Aside from physical activities, muscles are vital in moving and supporting various organs like the heart, for example, which is perhaps the hardestworking muscle that beats constantly so that humans survive.
The body’s muscles are a complex setup made up of more than 600 ones, mainly made of thousands of small woven fibers. These fibers are stretched and pressed together to move the organs or the body so that it will function, while providing the strength and energy to support movement, stability, digestion, circulation, and many other bodily functions.
According to the Cleveland Clinic, a nonprofit multispecialty academic medical center that integrates clinical and hospital care with research and education, the muscles that move the body have two types of movements, voluntary and involuntary. Voluntary actions are movements that humans can control, where it can perform an action and the muscles move the body to make that action happen. Involuntary movements, on the other hand, are those that happen automatically without even thinking about them. The clinic says the beating heart and the muscles in the chest and back that move the ribs when breathing are examples of in-
By Roderick L. Abad Contributor
HAVING a good sleep makes a big difference in one’s daily performance.
Recognizing this positive effect of slumber, Sealy Posturepedic, the premier provider of spring mattresses worldwide, is launching its latest mattress collection, the Elevate Ultra. This product addresses the concern on quality sleep which, being critical for the body to function well, is, more often than not, ignored by so many.
voluntary movements.
Using a combination of voluntary and involuntary movements, muscles help the body in terms of vision, hearing, breathing, speaking and swallowing, food digestion and eliminating body waste, movement, pumping blood through the heart and blood vessels, even giving birth, and stores and releases energy that the body uses as part of metabolism, the clinic pointed out.
Muscle wear and tear
HOWEVER, just like any complex machinery, the body’s muscles also experience wear and tear due to constant use. Over a period of years, the muscle mass and strength may dissipate gradually, sometimes starting at the age of 30 years. However, this loss may also be because of a serious condition called sarcopenia, which is more common due to age.
According to the Asian Working Group for Sarcopenia (AWGS) sarcopenia is the “age-related loss of skeletal muscle mass plus loss of muscle strength and /or reduced physical performance without reference to comorbidity.” Since October 1, 2016, the International Classification of Disease defines sarcopenia as a “disease, a major clinical problem that mostly affects older people with adverse outcomes, including poor quality of life, increases in falls, fractures, disabilities, institutionalization, and increased mortality risks.”
Studies have also shown that there are many different factors that may cause sarcopenia, such as age-related changes, lifestyle factors, and chronic diseases.
According to Dr. Jose Dimaano, Jr., Medical Director for Abbott’s nutrition business in Asia Pacific, muscles are the largest component of the total body lean mass, which is everything that makes up the body except for fat. “In fact, muscles usually account for 50 to 60 percent of our body weight. This is why healthy muscles are essential to a person’s physical strength, organ function, skin integrity, immunity and wound healing.”
Nutrition and exercise matters
DR. Dimaano pointed out that muscle health matters, more importantly for older adults who are vulnerable to involuntary age-related muscle decay. Starting around the age of 40, he said adults can lose up to eight percent of their muscle mass per decade, and this rate of loss almost doubles after the age of 70. “As we age, muscle fibers shrink. Muscle tissues
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Third, this latest offering improves the overall health and well-being. Since more good quality sleep means more energy for the day, using it is one way to gain a healthy immune system to conquer the rest of the day.
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are also replaced more slowly, and often by tough, fibrous or fatty tissues that are rigid. And if you don’t meet your nutritional and exercise needs, your muscles will be less efficient in their ability to contract, leading to diminished strength and function,” said Dr. Dimaano.
Speaking of sarcopenia, Dr. Dimaano said it may affect nearly one in three people over the age of 50. Sarcopenia can significantly impact a person’s quality of life and drive health complications. He said drastic muscle decay can impede one’s ability to do simple tasks such as walking, climbing a flight of stairs or even standing up from a chair. The condition can also increase incidences of falls and fractures that can cause disability, hospitalization and loss of independence.
“Malnutrition is one of the many factors that can quicken muscle mass loss among older adults,” Dr. Dimaano added. “What’s tricky is that malnutrition is actually common but often goes undetected because it can be asymptomatic or dismissed as part of the aging process.”
To prove his point, Dr. Dimaano stressed the value of early detection and intervention to address nutritional gaps to prevent sarcopenia, adding that healthy eating and properly exercising daily are both critical elements in preventing and treating sarcopenia.
He said that by choosing a balanced diet full of vegetables, fruits, whole grains, healthy fats and key vitamins and minerals, like calcium and vitamin D, these can help protect muscle mass, while older adults should also look to protein and HMB ( -hydroxy- -methylbutyrate), a small molecule found in the body after the amino and the leucine is metabolized. Protein, he said, found in protein-rich food types such as meat, fish, beans, soy and nuts, forms, builds and repairs the physical structure of every part of the body.
“We often don’t get the right amount of nutrients our body needs from our meals alone,” Dr. Dimaano pointed out. “That’s why Abbott develops sciencebased nutrition for people of all ages, including oral nutrition supplements with HMB to help Filipino adults stay strong and active.”
“What we want people to understand is that while aging is natural, age-related muscle decay doesn’t have to be inevitable. Eating healthier, engaging in physical activity and using HMB nutritional supplementation are the right steps toward preserving muscle strength,” he concluded.
THE Climate Change Commission (CCC) will strengthen its collaboration with the Department of Health (DOH) to address the impact of climate change on public health.
CCC Vice Chairperson and Executive Director Robert Borje made this commitment in a meeting with Health Secretary Teodoro Herbosa at the DOH main office in Manila last March 19, 2024. These issues include heat-related illnesses, vector-borne and waterborne diseases, malnutrition and mental health issues, among others.
In a news release, Borje said it is imperative to have an adaptive and resilient healthcare system in the country, recalling the effects of the coronavirus disease 2019 (Covid-19) pandemic.
“Our experiences have shown us that our wellbeing is intricately linked to the health of our planet. Recognizing this connection is key to building a resilient and sustainable future for all,” he said. Meanwhile, Herbosa vowed to continue pushing for reforms aimed at establishing a more resilient healthcare system.
“Our plans include constructing environmentally friendly hospitals, incorporating climate change adaptation into our disaster risk reduction initiatives. As the DOH is actively reforming to prioritize Universal Health Care and primary care, we believe this presents a prime opportunity to foster partnerships for a healthier and greener future,” he said.
Possible areas of collaboration, meanwhile, include formulation of climate-health policies and campaigns, as well as increase of public awareness activities.
To date, the CCC is working on its National Adaptation Plan (NAP), with health included among the focus sectors for climate resilience. Stephanie Sevillano, PNA
FWD’s critical illness coverage now available for
By Roderick L. Abad Contributor
FWD Life Insurance (FWD Philippines) has partnered with GCash to make its health surety product accessible to more Filipinos.
With the team up, the insurer’s BIG 3 Critical Illness Insurance that offers health coverage for heart attack, stroke, and early- to late-stage cancer is now available for users of the leading mobile wallet app nationwide.
According to the Philippine Statistics Authority, the leading causes of mortality among Filipinos in 2023 are heart attack (19.3 percent), cancer (10.4 percent), and stroke (10.3 percent).
“Most young Filipinos today do not have protection against these illnesses, especially since they can happen unexpectedly,” said FWD Philippines Chief Marketing and Digital Business Officer Roche Vandenberghe.
Adding to this concern is that three out of five Filipinos lack medical insurance, indicating that the majority of the population do not get protection coverage against illnesses mainly because they can’t afford it (63 percent), per a nationwide survey. Meanwhile, 30 percent of Filipinos depend on the government’s health programs, 22 percent are prevented by the limited coverage and exclusions, and 15 percent are not aware or don’t fully understand the available insurance options.
To help address these issues, the BIG 3 Critical Illness Insurance is made easier to purchase via its GIn-
GCash users
sure feature. It is designed as pocketfriendly for as low as P298 annually and uncomplicated to claim.
Once availed, policyholders will get exclusive e-gift vouchers worth P100 via Giftaway and can be claimed 20 days after purchasing the policy. Customers may avail themselves of multiple policies with critical illness coverage of up to a maximum of P2 million.
Trustworthy, dependable health plan
BANKING on their partnership, FWD Philippines seeks to foster a sense of trust and reliability among Filipino digital natives who primarily use GCash for their financial needs and provide accessible protection against these most dreaded diseases.
“We’re optimistic that this seamless and innovative partnership with GCash can inspire and drive more young Filipinos to become protected,” noted FWD Philippines Chief Partnership Officer Irene Andas.
“We hope that by making this plan available via GCash, we can bridge the protection gap and make it easier for them to become prepared for such challenges,” Vandenberghe added.
On their part, GCash Vice President and Group Head of New Businesses Winsley Bangit expressed high hopes for their team up.
“We share FWD’s commitment to help more Filipinos, especially when it comes to health and financial protection. With just a few taps, one can now get year-long protection against these top three illnesses,” he said.
AGROUPof kidney transplant donors and recipients urged Filipinos last week to donate kidneys, saying thousands of patients need them to have a second chance in life.
Kidney Transplant Association of the Philippines (KTAP) assistant auditor Liberty Calla said around 3,000 individuals who have kidney failure need transplantation.
“We advocate kidney transplantation kasi sa kidney transplantation po doon nagkakaroon ng (because with kidney transplantation there is) quality of life,” she said in a Bagong Pilipinas Ngayon interview aired over PTV-4.
Calla said she received kidney from a deceased donor.
KTAP Liturgy Community chair Abraham Mirandilla received a kidney from a living non-related donor.
“At least 18 years old and above, pwede po mag-donate. Usually, ang kina-campaign talaga ay related, pero dahil sa kulang, minsan hindi naman talaga nagma-match eh, so meron din pong non-related (can donate, usually related [donors to patients] are campaigned, but there is shortage of donors, sometimes kidneys do not match,
so there is also non-related),” he said.
In February, National Kidney and Transplant Institute (NKTI)-Human Organ Preservation Effort (HOPE) chief transplant coordinator Peter Paul Plegaria said the NKTI said dialysis patients nationwide are at around two million but there are only 260 individuals on the waiting list for organ donation.
Plegaria said HOPE visits trauma hospitals in the National Capital Region, Cagayan Valley, Central Luzon, Region 4-A (Calabarzon) and Southern Luzon to look for potential donors of kidneys and other viable organs such as the heart, lungs, liver, corneas, and bones.
“ Sa HOPE po namimigay kami ng organ donor card sa mga binibisita naming schools, opisina at saka sa driver’s license po natin, nandoon po ‘yung for donation, may che -check (At HOPE, we distribute organ donor card to schools, offices we visit, and in our driver’s license, for donation is mentioned, you just have to check) if you want to donate,” Calla said. Apart from organ donation, the KTAP also advocates for kidney disease awareness and prevention since 1986. Ma. Teresa Montemayor, PNA
March 21, 2024 C2
showroom.
Sealy Posturepedic elevates sleep for peak performance with new mattress collection SEALY Posturepedic’s latest mattress collection, the Elevate Ultra Filipinos urged to be kidney donors WORLD KIDNEY DAY Dabawenyos avail of free health screening at the SM City Davao on March 13, 2024. A group of kidney transplant donors and recipients on Friday (March 15, 2024) urged Filipinos to donate kidneys, saying thousands of patients need them to have a second chance in life. PNA PHOTO BY ROBINSON NIÑAL JR. CCC, DOH to boost collab vs. climate change impact on public health
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Regional cooperation, increased funding support pushed in fight vs TB meeting
By Claudeth Mocon-Ciriaco
TUBERCULOSIS (TB) is a bacterial infection that typically affects the lungs but may affect other parts of the body as well. Although curable, the Department of Health (DOH) said that TB remains one of the 10 leading causes of death in the Philippines.
According to the World Health Organization, the Philippines currently has the highest TB incidence rate in Asia.
To address the global tuberculosis (TB) crisis and target actions, resource mobilization, and advocacy efforts to effectively combat TB on a global, regional, and national scale, the DOH, in collaboration with the Stop TB Partnership, and USAID, hosted a Regional High-Level Meeting from March 14 and 15, 2024.
Outlined in the United Nations High-Level Meeting (UN HLM) Political Declaration on TB, the active planning of advocacy efforts, with a focus on raising awareness among political leadership and high-level stakeholders regarding the burden of TB and the urgent need for a comprehensive response
DBy Carla K. Johnson
ON’T be surprised if your doctors start writing you overly friendly messages. They could be getting some help from artificial intelligence.
New AI tools are helping doctors communicate with their patients, some by answering messages and others by taking notes during exams. It’s been 15 months since OpenAI released ChatGPT. Already thousands of doctors are using similar products based on large language models. One company says its tool works in 14 languages.
AI saves doctors time and prevents burnout, enthusiasts say. It also shakes up the doctor-patient relationship, raising questions of trust, transparency, privacy and the future of human connection.
Here’s a look at how new AI tools affect patients:
Is my doctor using AI?
IN recent years, medical devices with machine learning have been doing things like reading mammograms, diagnosing eye disease and detecting heart problems. What’s new is generative AI’s ability to respond to complex instructions by predicting language.
Your next check-up could be recorded by an AI-powered smartphone app that listens, documents and instantly organizes everything into a note you can read later. The tool also can mean more money for the doctor’s employer because it won’t forget details that legitimately could be billed to insurance.
Your doctor should ask for your consent before using the tool. You might also see some new wording in the forms you sign at the doctor’s office. Other AI tools could be helping your doctor draft a message, but you might
were on the meeting agenda.
Increased funding RECOGNIZING the financial challenges in tackling TB, the collaboration strategized on increasing funding from domestic budgets, external financing partners, and innovative financing mechanisms. This includes exploring sustainable ways to secure the necessary resources for TB prevention and care.
“We live in historical times. Today, in Manila we kicked off the first of six meetings we will host around the world highlighting regional cooperation on TB efforts in countries,” said Stop TB Partnership Executive Director, Dr. Lucica Ditiu.
Dr. Ditiu said that the Philippines
never know it.
“Your physician might tell you that they’re using it, or they might not tell you,” said Cait DesRoches, director of OpenNotes, a Boston-based group working for transparent communication between doctors and patients. Some health systems encourage disclosure, and some don’t.
Doctors or nurses must approve the AI-generated messages before sending them. In one Colorado health system, such messages contain a sentence disclosing they were automatically generated. But doctors can delete that line.
“It sounded exactly like him. It was remarkable,” said patient Tom Detner, 70, of Denver, who recently received an AI-generated message that began: “Hello, Tom, I’m glad to hear that your neck pain is improving. It’s important to listen to your body.” The message ended with “Take care” and a disclosure that it had been automatically generated and edited by his doctor.
Detner said he was glad for the transparency. “Full disclosure is very important,” he said.
Will AI make mistakes?
LARGE language models can misinterpret input or even fabricate inaccurate responses, an effect called hallucination. The new tools have internal guardrails to try to prevent inaccuracies from reaching patients—or landing in electronic health records.
“You don’t want those fake things entering the clinical notes,” said Dr. Alistair Erskine, who leads digital innovations for Georgia-based Emory Healthcare, where hundreds of doctors are using a product from Abridge to document patient visits.
The tool runs the doctor-patient conversation across several large language models and eliminates weird ideas, Ers-
and Indonesia are a true inspiration for other countries in the region as well as globally for their high-level political commitment and for the great achievements in the TB response, with “a record number of people with TB having access to diagnosis, treatment, and care in 2022 and 2023, including new tools and international recommendations.”
“We see an incredible ambition from countries, and we see it is feasible to end TB but, unfortunately, our biggest challenge of continuous low levels of funding remains. We must not get discouraged by it. We must not accept the current status quo and we must speak up and remain united more than ever and believe in ourselves. Because yes, We Can End TB!,” added Dr. Ditiu.
Urgent, concerted action
“THE global tuberculosis crisis demands urgent and concerted action. In our pursuit to combat TB on a global scale, we are committed to active advocacy, resource mobilization, and strategic planning. The DOH, together with the Stop TB Partnership, the World Health Organization, the Global Fund, USAID, and TB communities and patient support groups, is resolute in raising awareness among political leaders and stakeholders about the urgency
of addressing the TB burden,” Health Secretary Teodoro Herbosa said. Herbosa said that they acknowledge the resource constraints and, “together, we will explore innovative financing mechanisms to ensure sustainable resources for TB prevention and care.”
Distinguished participants during the event, aside from Herbosa and Dr. Ditiu, include Minister of Health of the Republic of Indonesia, H.E. Budi Gundadi Sadikin, Vice Minister of Health of Lao, Dr. Phayvanh Keopraseuth, the Undersecretary of State, Minister of Health of the Kingdom of Cambodia represented by Dr. Mao Tan Eang, and the Assistant Minister for Global Health and Welfare of the Ministry of Health, Labor, and Welfare of Japan Dr. Eiji Hinoshita.
TB prevention, control PEOPLE with TB can help protect other people from getting infected by: Following their treatment regimen as directed by the healthcare provider; Covering the mouth when coughing, sneezing, or laughing; Refraining from coming to school or work until cleared to do so; Avoiding close contact with others; and Maintaining good ventilation in the room they are staying in.
TBy Candy P. Dalizon Contributor
HE Betser family from
Zamboanga
Sibugay shares a story common to many. Faced with tuberculosis (TB) infecting three family members—son Lloyd Vincent, husband Bernard, and daughter Leah—their limited income initially led them to seek alternative treatments like faith healing and self-medication.
Arlyn, Bernard’s wife who earns P4,000 as a household helper, felt immense pressure during that challenging time.
The family is one of the partnerbeneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) in Region 9. Through the Family Development Sessions (FDS), one of the key components in the implementation of the 4Ps, they learned the importance of knowing the symptoms, early detection, diagnosis, and treatment of TB. More importantly, they realized the value of seeking prof essional help and that self-medication could make things worse.
After her family recovered, Arlyn requested for a special FDS to be conducted among her co-4Ps beneficiaries in their area. Arlyn shared her story so others like her would learn.
“Napakalaking tulong ang FDS sa amin dahil nalama n ko kung paano magamot ang TB, paano maiiwasan, at ano ang gagawin para hindi makahawa sa iba (FDS is a big help because we learned how to cure TB, how to prevent it, and how to curb its spread),” said Arlyn.
Sharing personal stories
kine said. “It’s a way of engineering out hallucinations.”
Ultimately, “the doctor is the most important guardrail,” said Abridge CEO Dr. Shiv Rao.
As doctors review AI-generated notes, they can click on any word and listen to the specific segment of the patient’s visit to check accuracy. In Buffalo, New York, a different AI tool misheard Dr. Lauren Bruckner when she told a teenage cancer patient it was a good thing she didn’t have an allergy to sulfa drugs. The AI-generated note said, “Allergies: Sulfa.”
The tool “totally misunderstood the conversation,” said Bruckner, chief medical information officer at Roswell Park Comprehensive Cancer Center. “That doesn’t happen often, but clearly that’s a problem.”
What about the human touch?
AI tools can be prompted to be friendly, empathetic and informative.
But they can get carried away. In Colorado, a patient with a runny nose was alarmed to learn from an AI-generated message that the problem could be a brain fluid leak. (It wasn’t.) A nurse hadn’t proofread carefully and mistakenly sent the message.
“At times, it’s an astounding help and at times it’s of no help at all,” said Dr. C.T. Lin, who leads technology innovations at Colorado-based UC Health, where about 250 doctors and staff use a Microsoft AI tool to write the first draft of messages to patients. The messages are delivered through Epic’s patient portal.
The tool had to be taught about a new RSV vaccine because it was drafting messages saying there was no such thing. But with routine advice—like rest, ice, compression and elevation for an ankle sprain—“it’s beautiful for that,” Linn said.
Also on the plus side, doctors using AI are no longer tied to their computers during medical appointments. They can make eye contact with their patients because the AI tool records the exam.
The tool needs audible words, so doctors are learning to explain things aloud, said Dr. Robert Bart, chief medical information officer at Pittsburgh-based UPMC. A doctor might say: “I am currently examining the right elbow. It is quite swollen. It feels like there’s fluid in the right elbow.”
Talking through the exam for the benefit of the AI tool can also help patients understand what’s going on, Bart said. “I’ve been in an examination where you hear the hemming and hawing while the physician is doing it. And I’m always wondering, ‘Well, what does that mean?’”
What about privacy?
U.S. law requires health care systems to get assurances from business associates that they will safeguard protected health information, and the companies could face investigation and fines from the Department of Health and Human Services if they mess up.
Doctors interviewed for this article said they feel confident in the data security of the new products and that the information will not be sold. Information shared with the new tools is used to improve them, so that could add to the risk of a health care data breach.
Dr. Lance Owens is chief medical information officer at the University of Michigan Health-West, where 265 doctors, physician assistants and nurse practitioners are using a Microsoft tool to document patient exams. He believes patient data is being protected.
“When they tell us that our data is safe and secure and segregated, we believe that,” Owens said. Associated Press
Bottomline, the panelists in the launch emphasized the value of consulting with a doctor first about how to prevent shingles, and that the campaign will surely help provide the public with enough knowledge through educational materials from health experts that will dispel myths and provide
curate and reliable information about shingles so that every Filipino can make informed decisions about their health.
THE Betser family was one of the families gathered to share personal stories of battling TB during an event organized by the Department of Health (DOH), Department of Social Welfare and Development (DSWD) and the United States Agency for International Development (USAID)’s TB Innovations and Health Systems Strengthening Project (TB IHSS) implemented by FHI 360. FHI360 is an international nonprofit organization working to improve the health and well-being of people in the United States and around the world.
Representatives from the DSWD and USAID also attended the event dubbed “Empowering Families Against Tuberculosis: Success Stories and Insights from the Implementation of Family Development Session on TB Awareness” which was held at the Luxent Hotel in Quezon City last March 14, 2024.
Tuberculosis remains a global concern, according to Health Secretary Teodoro J. Herbosa. “TB is a public health emergency and needs concerted action from all stakeholders. We’ve made notable progress in the fight against TB, including finding 2.1 million people with TB,” he said.
Important intervention
FDS, a continuing education program conducted nationwide, is regarded as an important intervention to fulfill the family development thrust of the 4Ps. It intends to strengthen the capacities of 4Ps families, particularly the parents/ grantees, to become more responsive to the health and education needs of the family and their children, to become more socially aware, and to be involved and participative in community development activities.
Another success story is that of the Arimado family. When Lhian Arimado started to experience weight loss, frequent chills, and occasional vomiting, her mother Cecilia, a market vendor, knew something was wrong. During her pre-graduation photoshoot, Lhian suddenly felt weak and unable to stand. Cecilia took her to a clinic in Legazpi, Albay where she was later referred to a health center for further evaluation. There, Lhian was diagnosed with TB. However, it was only through FDS that Lhian was able to start taking her medications.
“Ang FDS ang nagbigay daan para sa paggaling ng aking anak (FDS was the key towards the healing of my daughter),” Cecilia said. “ Pinagkalooban nila ang aming anak ng mga gamot at bitamina at tinuruan kung paano maalagaan ang aming sarili at ang mga kamag-anak na may tuberculosis. (They gave her medicines and vitamins, and they taught us how to better care for ourselves and for others).”
Marites M. Maristela, DSWD Assistant Secretary for National Household Targeting Office and 4Ps, said that it was in 2016 when the DOH conducted the National TB Prevalence Survey. Based on the survey, a beneficiary of the 4Ps is 1.6 times more likely to get sick of TB than a non-beneficiary.
Pilot test
TO address the higher TB rates among beneficiaries, DSWD pilot-tested an FDS guide on TB awareness in San Juan City, Bataan, and Cavite also in 2016. In 2019, DSWD started to work with USAID’s TB Innovations and Health Systems Strengthening to roll out the FDS on TB Awareness. Revisions based on the session guide were delayed by Covid-19 but completed in 2022 with USAID support.
Maristela explained that during an FDS on TB awareness, attendees who themselves may be experiencing TB symptoms or who have a family member experiencing them are referred to local government or barangay health units for further assessment and treatment.
“FDS sessions have emerged as a valuable strategy for raising TB awareness within family units, fostering behavioral changes, reducing stigma, promoting community engagement, and ensuring long-term impact in the fight against TB,” said Vilma Cabrera, DSWD Undersecretary for National Household Targeting System (NHTO) and 4Ps.
Cabrera explained that the campaign’s success hinged on several key approaches which include community engagement, family-centered interventions, health education and awareness, behavior change communication, multi-sectoral collaboration, and empowerment and capacity building.
Many hurdles
HOWEVER, Cabrera acknowledged that implementing these sessions was not without hurdles. Despite challenges like limited access to remote areas, stigma, resource constraints, and healthcare system vulnerabilities, the agency was able to overcome these and achieve its goal of empowering communities against TB. Their success stemmed from a multi-pronged approach: deploying mobile clinics, training community health workers, establishing support groups, and forging strong partnerships.
Looking forward, Cabrera further noted the campaign’s long-term potential through sustained community engagement and ongoing family support. Key measures for future success include long-term sustainability, training and capacity building, technology integration, use of digital platforms, community engagement, and continued partnerships and collaboration.
“By implementing these measures, we can ensure sustained community engagement and ongoing support for families beyond the immediate campaign period, maximizing our long-term impact on TB control and prevention,” she concluded.
For more information about TB, healthylungs.ph. The website includes an online self-assessment (https://assessment.healthylungs.ph/) tool to help with TB identification and treatment. It can also be used to check for suspected TB and locate the nearest health facility. Healthylungs.ph is part of DOH’s local communication campaign, Para Healthy Lungs and KonsulTayo, which is supported by USAID’s TB Innovations and Health Systems Project (TBIHSS).
sMirror Thursday, March 21, 2024 C3
Family Development Sessions Offer Crucial Support to Stop TB Experts... Continued from C Awareness, making informed decisions THE many truths about shingles that the public does not know of is what made GSK mount the “Sabi Nila: The Truth About Shingles” nationwide awareness campaign, with the hope of educating the public about the risks, impact and prevention of shingles, which Solante earlier described as a debilitating viral infection. The campaign also seeks to show how shingles impacts quality of life and the importance of consulting with a doctor, set right many common misconceptions about the disease and provide reliable information coming directly from healthcare
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www.businessmirror.com.ph
AI-Powered X-ray system sets new benchmark in medical imaging
By John Eiron R. Francisco
AN information technology company has unveiled a new benchmark in medical diagnostics with the introduction of an Artificial Intelligence or AI driven X-ray system capable of detecting over 30 pathologies in just a minute.
about data management.
The technology company asserts that its AI Smart Scan is capable of distinguishing between normal and abnormal cases by streamlining the detection process and generating reports based on initial radiologist assessments.
Additionally, it boasts a userfriendly interface and a conscientious AI system that continuously evaluates its performance to ensure alignment with human radiologist interpretations.
it, taking two to three minutes.
DeepTek is the software behind AI Smart Scan, called Augmento PACS, a medical imaging AI company based in India.
The other system is the edge system, which sits next to the X-ray machine and directly processes the scan, called the Genki system.
Angelo Antonio “AA” Buendia, CEO and President of Advanced Abilities, mentioned that the advantage of the Genki system is that it works without the internet. So, if you’re conducting remote screenings on an island without internet access, the scans can be processed immediately for the patient.
Having a cloud system though will automatically centralize the data as you go, eliminating the need to worry
promise of accurate results within a remarkably short timeframe of five to 30 minutes.
Buendia expressed excitement about the impact of these advancements, stating that “the results are empowering.”
Medical Experts Laud AI
Furthermore, according to Buendia, the company is diligently working on an update that will expand its detection capabilities to include telephonics, Alzheimer’s, and cardiac risk assessments.
Portable Rapid Testing Devices
FURTHERMORE, the technology company also unveiled Absol, a cutting-edge testing immunodiagnosis solution.
Absol functions as a portable point-of-care rapid test kit that conducts blood tests for a range of conditions including cardiac, thyroid, metabolic, and inflammatory disorders.
Additionally, they introduced RevDX, a portable device designed for complete blood count testing which delivers rapid results with just a single prick.
Both Absol and RevDX boast the
NU.U Asia launches the #YesToSummer Campaign
NU.U
beauty.
With the majority of the Asian market expressing a preference for lighter skin tones and avoiding sunlight, NU.U Asia recognizes the need to shift the narrative towards selfconfidence and self-acceptance. The #YesToSummer Campaign encourages everyone to celebrate summer like never before and enjoy being under the sun without worrying about insecurities.
“We believe that everyone should feel comfortable and confident in their own skin, regardless of societal norms or beauty standards,” said Dr. Mary Giselle Lazaro-Maceda, Founder and Medical Director at NU.U Asia.
“Through our #YesToSummer Campaign, we want to promote a positive
message of self-acceptance and empower individuals to embrace their unique beauty.”
The campaign kicked off with an exclusive launch event where NU.U Asia unveiled its state-of-the-art machines designed to enhance skin radiance and promote overall well-being.
Attendees will had the opportunity to experience live demonstrations, learn about the machines’ purposes, and gain insights into NU.U Asia’s commitment to skincare innovation.
In addition to the launch event, NU.U Asia engaged its audience through social media platforms, sharing inspiring content, behind-thescenes footage, and user-generated stories using the hashtag #YesToSummer. The campaign will also feature collaborations with influencers and key opinion leaders who embody NU.U Asia’s core values of self-confidence and acceptance. Join NU.U Asia in saying yes to summer, yes to radiant skin, and yes to a new you. Follow the #YesToSummer Campaign on social media and join
MEANWHILE, President of the Philippine Medical Association Dr. Maria Minerva Calimag emphasized the significant role of AI in enhancing the accuracy of medical diagnostics.
According to Calimag, AI technology can greatly improve the detection process, particularly in screening procedures. With a high sensitivity rate exceeding 90 percent, AI-enabled tools result in efficient screening, allowing medical professionals to swiftly identify potential health issues.
Following the screening phase, confirmatory tests are conducted promptly. While favorable test results alleviate concerns, any detected problems necessitate further confirmation and subsequent medical intervention.
“That with the radiologist plus the AI, you have a higher sensitivity and
specificity,” Dr. Calimag said. She emphasized that such technology improves the number of detected and confirmed cases, leading to better outcomes.
From the perspective of medical practitioners like Dr. Calimag, AI emerges as a pivotal tool in improving diagnostic accuracy.
She highlighted AI’s capacity to evolve through continuous learning from extensive data sets, refining its ability to distinguish between positive and negative cases.
As the AI system accumulates more information, its proficiency increases, emphasizing the essential nature of ongoing learning and advancement in AI-driven diagnostic technology.
“Good patient outcomes, better diagnosis, faster and more efficient healthcare,” Dr. Calimag said.
While Buendia expressed that these technologies are not intended to replace human efforts, but rather to assist them, “it’s a tool that makes our productivity outputs more efficient.”
“Our goal here is to be able to come up, partner up, deliver products or solutions like this, democratize it, make it accessible, and reach as many Filipinos as possible,” Buendia concluded.
DOH opens three specialty centers in Santiago City, Isabela
TCapitol
Medical Center is now a contracted PhilHealth facility for kidney transplants
CAPITOL Medical Center, Inc. (CMCI) proudly emphasized the equity and accessibility of healthcare in the Philippines as it recently became the 10th Z Benefit Package contracted facility of the Philippine Health Insurance Corporation or PhilHealth and 25th nationwide for Kidney Transplantation. The Z Benefit Package for Kidney Transplantation is structured to offer financial support to qualified members undergoing kidney transplant procedures. This initiative is geared towards enhancing accessibility and affordability for PhilHealth members seeking critical and costly medical interventions.
Since the 1970’s CMCI has been one of the leading hospitals in the Philippines to perform kidney transplantations. This significant milestone for the institution aligns with its rich heritage of being one of the first to perform successful living donor kidney transplants in the country as shared by Dr. Angel Joaquin M. Amante, head of CMCI Organ Transplant Center.
In 2003, CMCI was the first transplant center to perform Laparoscopic
Nephrectomy. The institution established an integrated program for Organ Donation, marking the first stand-alone organ procurement in the country in 2006.
Currently, the institution is armed with two comprehensive PhilHealth packages to support patients with renal disease. The hemodialysis treatment which consists of 156 dialysis sessions per year, and the Z Benefit Package where patients can be provided with the best care and world-class kidney transplantation procedure at a reasonable cost.
The tireless efforts of the esteemed doctors and nurses achieved this partnership. With hard work and dedication, CMCI undoubtedly stands tall as the beacon of a high-quality healthcare facility, true to their call of providing “Right care, Right Here.”
“This initiative reflects our unwavering commitment to make lifesaving treatments more accessible and affordable to those in need of treatment. It embodies our collective dedication to enhancing patient care and supporting the journey to recovery and well-being,” emphasizes CMCI’s Medical Director, Dr. Jorge T. Logarta.
Celebrate World Sleep Day this whole month of March with Serta products
OVER the past years, more and more institutions have been pushing for people to practice healthy lifestyles, which having enough sleep. Sleep plays a vital role in our health and mental well-being, making it one of the topmost priorities of many global organizations this World Sleep Day.
This year, World Sleep Day, which is celebrated every March 15, focused on Sleep Equity, with the goal of everyone having equal access to adequate and quality sleep, regardless of their socioeconomic status, geographical location, sex, gender, sexual orientation, race, and ethnicity. World Sleep Day aims to address the disparities that exist in the realm of sleep health and ensures that everyone has the opportunity to get the rest they need to live a healthy and fulfilling life.
Live Healthy, Sleep #SertaSoundly
IN the Philippines, global brand Serta celebrates World Sleep Day this month by promoting a healthy lifestyle and getting much-deserved sleep. A global brand known for providing exceptional comfort through its best mattress, Serta wishes for every Filipino to achieve the sleep their body needs to continue fulfilling their goals and aspirations in life.
“As the world gets too busy nowadays, most people are forgetting the importance of sleep in our lives. We, at Serta, want every Filipino to sleep #SertaSoundly as each one of them pursue their daily activities and create a meaningful life not just for themselves but for their families and communities as well,” Serta Philippines shared. With many Filipinos facing unique challenges every single day, getting the rest they need is the one common activity that’s being sacrificed. To achieve sleep equity, it is essential to
address disparities and work towards creating a society where everyone has the opportunity to prioritize their sleep health.
Bring Home Comfort
AS the world observed World Sleep Day last March 15, Serta highlighted the importance of achieving the utmost comfort with the much-needed sleep in a day. Serta’s Pedic and Perfect Sleeper Mattress Collections offer the latest sleep technology that enables one to achieve quality sleep.
Added with timeless and elegant design, these collections offer Serta’s signature 7-Zone Pocket Spring that assures good posture and body support. Combined with its Adaptive Dynamic Cooling System and Pillow Top layer, the Pedic and Perfect Sleeper Mattress Collections provide a relaxing and undisturbed feel and comfort for better quality of sleep.
Completing these ultra-luxury items are equally comforting Serta Bed Linens that are available in plain color such as White, Country Blue and Beige colors offering a high-quality, opulent feel that are 100 percent made of cotton, as well as in stripes boasts with TENCEL™ Lyocell material offering soft feel and all-natural comfort.
This March, Serta is celebrating World Sleep Day with a delightful offer of up to 30 percent off on Serta Mattress Collections and up to 15 percent off on Pillows and Accessories.
To learn more about the Serta, you may visit its boutique shop at the 3rd Level of Greenbelt 5, Makati City. This store is open on Sunday to Thursday from 11 am to 9 pm, and on Friday to Saturday from 11 am to 10pm. You may also visit Serta Philippines official website: https://serta. com.ph/. Get to know the latest on Serta Philippines by following them on Facebook, Instagram and Tiktok.
BusinessMirror Thursday, March 21, 2024 C4
HREE Specialty Centers in Southern Isabela Medical Center (SIMC) in Santiago City, Isabela were inaugurated recently to help realize Universal Health Care through one of the Department’s 8-Point Action Agenda, “Ligtas, dekalidad, at mapagkalingang serbisyo,” the Department of Health (DOH) said. The DOH was represented by Undersecretary Maria Rosario Singh-Vergeire and Cagayan Valley Center for Health Development Regional Director Razel Nikka Hao during the inauguration. The newly opened Specialty Centers in SIMC are Burn, Dermatology, and Ophthalmology Centers. Various medical equipment such as cardiac stress test, 2D echocardiography machine, ultrasound machines, CT scan, dexa bone scan, panoramic X-ray machines, and telemedicine equipment were also blessed during the event. Vergeire also met with the local officials of Southern Isabela to seek support for the establishment of SIMC Cancer Center and BUCAS Centers in Isabela. Claudeth Mocon-Ciriaco
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the conversation today.
According to Advanced Abilities, an all-Filipino technology company and an independent solutions aggregator, the AI Smart Scan represents a significant leap forward in medical technology. This portable, AI-driven X-ray system boasts a speedy detection system capable of delivering up to 200 scans in just eight hours. When asked about how this portable system works and how it determines the verification process, DeepTek Co-founder Ajit Patil told BusinessMirror that it operates as an online system, sending the scan to the cloud, where the cloud server processes
DR. Mary Giselle Lazaro-Maceda (center), Founder and Medical Director at NU.U Asia, speaks at the launch of the #YesToSummer
Campaign.
HEALTH Undersecretary Maria Rosario Singh-Vergeire leads the inauguration of three specialty centers in Santiago City, Isabela.
AI
driven portable X-ray system.