BusinessMirror May 16, 2024

THE Monetary Board could start cutting rates in the fourth quarter of the year, as signaled by Finance Secretary Ralph G. Recto ahead of the Monetary Policy Meeting on Thursday, May 16.

Recto told reporters on the sidelines of the 54th anniversary of the Development Budget Coordination Committee (DBCC) on Tuesday that the Monetary Board is likely to keep its rates unchanged in the next policy meeting.

“So far, the way I see it, unless something changes between now and then, I think more or less [steady],” said Recto, a member of the Monetary Board, the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP).

Moving forward, the Finance chief added he expects rates to go lower not in the next policy meeting but possibly within the end of the year.

Earlier, BSP Governor Eli M. Remolona Jr. said the central bank is likely to maintain its key policy rates as inflation remains elevated.

However, if inflation relaxed to 3 percent consecutively in the coming months and within the target “comfortably,” Remolona said the Board would have room to cut interest rates by 25 basis points (bps).

Asked if he expects the central bank to strike a hawkish tone after the gross domestic product (GDP) settled at 5.7 percent in the first quarter of the year, Recto said it all

depends on inflation. “The expectations for inflation this year are lower than expected by the BSP. But it will be sticky,” Recto added.

The Finance chief expects inflation to go “a little bit higher” next year as well.

Headline inflation settled at 3.8 percent in April, within the BSP’s target range of 3.5 to 4.3 percent and the Development Budget Coordination Committee’s

THE government’s revenue collection could drop this year due to the slowdown in household consumption, including spending on vices, according to government officials.

Latest data from the Philippine Statistics Authority (PSA) on Household Final Consumption Expenditure (HFCE) showed that demand for alcoholic beverages and tobacco contracted by 2.7 percent in the first quarter of 2024. Spending for these so-called “sin products” posted a growth of 7.4 percent year-on-year in 2023.

Asked by BusinessMirror if there is a concern that sin tax and VAT collections could decline this year, Finance Secretary Ralph G. Recto said: “Yes, because of illicit trade and vape smuggling.”

Excise taxes on tobacco dropped to P21.975 billion as of the first quarter of the year, based on data obtained by BusinessMirror from the Bureau of Internal Revenue (BIR). This is down by 20 percent or

EFFECTIVE July 2024, the Philippines will implement a “passport for goods” system that simplifies customs procedures for importers and exporters without requiring these traders to pay taxes under certain conditions, according to the Philippine Chamber of Commerce and Industry (PCCI).

In a statement on Wednesday, PCCI President Enunina Mangio said, “We are pleased to partner with the Bureau of Customs in launching the ATA Carnet system in the Philippines.” Mangio said the “strategic” move aims to streamline and facilitate temporary exports and

imports of goods, making crossborder trade more efficient and cost-effective for businesses.

According to PCCI, ATA Carnet, also known as the “passport for goods,” is an international customs document that simplifies customs procedures for admission of goods up to one year.

“It allows businesses to temporarily export and import into participating countries without the need to pay duties and taxes, provided that the goods are reexported within a specified timeframe,” PCCI said. The business group called this

ABy Andrea E. San Juan @andreasanjuan

RECENTLY inked multiyear commercial agreement between HD Hyundai, a global shipbuilding engineering firm and Cerberus Capital Management, a global investment firm, aims to start the manufacturing of offshore wind platforms within the next 12 to 18 months, which is seen to regain “economic vitality” in Subic.

In a statement on Wednesday, Cerberus announced it has entered into a “multi-year” agreement at Agila Subic Compass with leading maritime manufacturer HD Korea Shipbuilding and Offshore Engineering to lease a portion of its

facility located in Subic Bay, Zambales.

“So the site preparations and the modifications that will need to take place over the next 12 to 18 months, we anticipate this would be in the tens of millions or potentially even hundreds of millions of dollars of investment that will need to be mobilized,” Alexander Benard, Senior Managing Director at Cerberus told reporters in a virtual briefing on Wednesday. Once the facility is fully up and running and once the manufacturing activities are fully operational, Benard said “there will be thousands of jobs that will result from this.”

By Reine Juvierre S. Alberto @reine_alberto

‘PASSPORT FOR GOODS’ TO BE IN PLACE IN PHL

an “indispensable marketing tool,” as it will help businesses, especially small and medium enterprises (SMEs), to “successfully” develop their exports.

Ahead of the implementation of the ATA Carnet system, PCCI said it is now accepting accreditation applications from businesses that intend to utilize the passport for goods.

PCCI also emphasized that the implementation of the ATA Carnet system “underscores the Philippines’ commitment in efficiently facilitating trade and enhancing its competitiveness in the global market.”

“Businesses interested in obtaining accreditation and attending local workshop for the ATA Carnet system are encouraged to contact the Philippine Chamber of Commerce and Industry for further information and assistance,” said PCCI.

The business group will also be scheduling the local workshops for Exporters, Industry Associations, Chamber of Commerce, Sports Associations, Film and Entertainment organizers and Business Professionals. Andrea E. San Juan

Comelec limits window for ‘placeholder’ COC filers

By Samuel P. Medenilla @sam_medenilla

POTENTIAL candidates for the 2025 polls will only have until October 8, 2024 to withdraw their candidacy and file the substitution of Certificate of Candidacy (COC).

This after the Commission on Elections en banc unanimously decided to approve the proposal of their chairman, George M. Garcia, to limit the window for such activities from October 1 to 8, 2024 only.

Garcia said he hopes the new policy will prevent “fronts” or “placeholder” COC filers from previous elections, who will be re-

placed by other candidates.

“To the candidates, lay [down] your cards on the table. They should declare their candidacy and not resort to substitutions...if they really want to serve the public,” he said in an interview with reporters last Wednesday.

In a television interview with PTV, Comelec spokesperson John

Rex C. Laudiangco said candidates with a political party will no longer be allowed to withdraw their candidacy or substitute their COC by October 9.

Only the substitution of candidates due to either death or disqualification will be exempted from the restriction.

In the 2022 polls, the filing period for COCs was from October 1 to 8, 2021, but the period for withdrawal and substitution of COC was until November 21, 2021. Comelec is targeting to release the Calendar of Activities for the May 2025 National and Local Elections (NLE) this month.

“We are just finalizing the dates and periods in the resolution. Hopefully, by next week we can already come out with it,” Garcia said.

REVENUE TAKE MAY DIP ON SLOWER SPENDING

Meanwhile, San Miguel Food and Beverage Inc. (SMFB) reported

business under Ginebra San Miguel Inc. fell by 25 percent to P1.9 billion in the first quarter of the year from the P2.53 billion in the same period in 2023. (See:

businessmirror.com.ph/2024/05/08/ smfb-income-almost-flat-as-gin-beersales-fall/)

Sin tax is an excise tax from sin products, including sweetened beverages.

Collections from sin tax will be primarily used to finance the implementation of the Universal Health Care (UHC) program to ensure that all Filipinos have access to quality and affordable healthcare services and be protected against financial risk.

Lower sin tax collections could dampen the funding of the UHC program covering all 109 million Filipinos.

Even the Finance chief said the mandated 5-percent increase in tax rate every year for tobacco products cannot cover the possible shortfall in tax collections.

“Tax increases do not necessarily equate to revenue increase,” Recto said.

Undersecretary for Fiscal Policy and Monitoring Group (FPMG) Renato E. Reside Jr. told the BusinessMirror that sin tax and VAT collections could decrease this year, adding that Recto is working closely with the two main tax collecting agencies to “ensure robustness in 2024 and beyond.”

What the government needs to do is to consider revamping consumption taxes, according to an official from the BIR who requested to not be named.

“Structurally, we have too many exemptions. Th is creates

a distortion in tax administration—too many loopholes that impair our ability to collect VAT,” the BIR personnel told the BusinessMirror.

In Asia, the Philippines has the most numbers of exemptions, prompting businesses to try to squeeze themselves into numerous VAT-exempt transactions, the offi cial pointed out.

What needs to be done by the state, in Recto’s view, is to plug the taxes it is losing from transactions done through e-commerce.

Recto said the DOF, together with the BIR and the BOC are addressing the issues to curb smuggling to counter further loss of taxes.

The government has raised P1.418 trillion so far for the first quarter, higher by 12.63 percent, or P159 billion, than the P1.259 trillion recorded in 2023.

With a lofty goal of raising P4.3 trillion in revenues this year, the bulk or P3 billion will be raised by the BIR and the remaining P1 trillion from the BOC.

Recto said he doubts the wisdom of revising the revenue targets upward this year, adding that he will meet both the BIR and BOC to discuss revenue collection targets for 2024 all the way to 2028 to ensure they hit the targets for the year.

“For as far as I am able to collect what is targeted already, masaya na ako niyan [I am happy with that],” he told reporters earlier.

Privacy body down random sweep on mall booths

THE

During

Aubin Arn Nieva and Compliance and Monitoring Division Rainier Anthony Milanes.

Naga said on-the-spot privacy sweeps and compliance checks enable the NPC to “directly engage” with PICs and PIPs and guide them in their implementation of “reasonable and appropriate” organizational, physical, and technical measures.

“Malls and retail stores collect significant amounts of personal data from customers daily. Hence, these entities must comply with the DPA and NPC issuances to protect the rights of their data subjects and maintain consumer trust,” Naga said. The NPC chief underscored the importance of on-the-spot privacy sweep and compliance checks, noting that this would also “serve as a warning to all non-compliant and erring PICs and PIPs.”

“The NPC will not hesitate to impose administrative fines for violations of the DPA, its IRR, and the issuances of the National Privacy Commission,” Naga said.

For his part, Nieva explained the “primary goal” of the privacy body which is to ensure that PICs and PIPs are “fully aware” of their responsibilities under the DPA.

“If we find areas of non-compliance or potential vulnerabilities in their data handling practices, we can offer personalized recommendations and support to help them address these gaps and improve their data protection measures,” said Nieva.

After completing the privacy sweep and compliance check, NPC said it will present its findings and assess whether the PIC or PIP has any deficiencies that need to be addressed.

If deficiencies are identified, NPC said the entity will be requested to submit the necessary documents.

Once the identified deficiencies are adequately addressed or if the findings show no significant issues, the Commission will issue a Certificate of No Significant Findings to the PIC or PIP, said NPC. Andrea E. San Juan

CERBERUSHD HYUNDAI DEAL TO BOOST OSW SECTOR

HD Hyundai Korea Shipbuilding and Offshore Engineering (KSOE) plans to build a “state-ofthe-art” maritime complex capable of handling offshore wind structures, ship block fabrication, ship repairs, and other services.

For his part, Sungjoon Kim, CEO of HD Hyundai KSOE said this initiative “represents a major opportunity to create jobs and reinvigorate the local economy,” adding that this will help further establish the Philippines as a “global maritime powerhouse.”

The entry of HD Hyundai is also expected to attract more foreign investments and will “pave the way for the transfer of world-class skills, knowledge and expertise to the Philippine labor force.”

“HD Hyundai KSOE will join a base of high-quality tenants at the Subic Bay facility, including leading global subsea cable company

Subcom, logistics company V2X, and the Philippine Navy that occupies 100 hectares in the northern portion of the site,” the statement read.

Cerberus said after it acquired the Hanjin facility two years ago, it aims to “revitalize” and repurpose the site into a multi-use industrial facility to bring thousands of jobs to the Subic Bay region.

The global investment firm said it took over the 350-hectare Hanjin asset in April 2022. This multi-use property located in Subic, Benard said, is “spliced” into different areas which would have different operators coming in and leasing the different areas from Cerberus to “create a more diversified business model for the asset and to optimize its use.”

“So that we will be able to create a facility that is more economically sustainable and can withstand different different cycles as well including withstanding different

shipbuilding cycles,” Benard explained further. The Cerberus official illustrated how the company took over the asset,initially bringing in a logistics firm that used some of the facilities and is still using some of the facility for logistics and warehousing, and storage.

“We have the Philippine Navy, leasing a portion of the shipyard from us and then last year, we brought in SubCom, which is actually a portfolio company of ours. It’s the world’s largest subsea fiber optic cable company, and this site now will become their Asia hub for serving the Asia Pacific region, and they’re going to be storing cables and running a cable ship out of here,” Benard added.

The shipyard that HD Hyundai will be leasing from Cerberus, Benard said, is expected to bring maritime manufacturing back to Subic “at a very large scale with an initial focus on offshore wind platforms.”

GEORGE M. GARCIA

A PARTICIPANT boat in the Atin Ito sovereignty mission to the West Philippine Sea in the vicinity of Bajo de Masinloc

PHL civilian ‘sovereignty’ maritime convoy installs symbolic markers

THE 100-boat maritime convoy of Atin Ito Coalition at the Philippine exclusive economic zone (EEZ) on Wednesday morning installed symbolic markers off Bajo de Masinloc.

Buoys, emblazoned with the words “WPS ATIN ITO!” or “WPS is ours!” in Filipino were spread on a stretch of the West Philippines Sea.

Later, the organizers reported that the main boats were have started distributing supplies such as fuel and food packs to Filipino fishermen in the area.

Atin Ito launched the mission despite reports of a “huge force”of Chinese ships heading to Scarborough Shoal, the other name of Bajo de Masinloc.

After the installation of the buoys, Atin Ito asserted that “China has already lost the battle of narratives concerning its actions in the West Philippine Sea [WPS].”

Atin Ito issued the as the coalition officially started its second civilian supply mission, this time in the exclusive economic zone (EEZ) off the coast of Masinloc, Zambales, and the general vicinity of Bajo de Masinloc.

“China’s narrative has significantly faltered. It is running a very bad script.When a superpower deploys a fleet of military vessels to act as a goalkeeper in a shoal it has no authority over, against a group of wooden fishing boats manned by Filipino civilians, it is unmistakably exposed as an aggressor, usurper, and illegal occupant,”stated Rafaela David, President of Akbayan Party and Co-convenor of Atin Ito.

The convoy of around 100 boats sailed from Zambales at around 7:30 a.m.

The civilian supply mission comprises of five commercial fishing vessels and 100 smaller fishing boats.

Some 200 volunteers, including the crew members, are on board the five commercial vessels, while another 100 fishermen are on the smaller boats.

“China’s actions in the West Philippine Sea reveal not strength, but a glaring weakness. When it resorts to intimidating small, civilian fishing vessels with military might, it showcases a narrative built on fear rather than legitimate authority,” the statement added.

Maritime security expert Ray Powell said that the deployment of Chinese ships, if it materializes, would be the “largest blockade” in Scarborough Shoal he has seen.

Powell is a 35-year veteran of the US Air Force and retired as a colonel.

“China is sending a huge force to blockade

Scarborough Shoal ahead of the Atin Ito civilian convoy setting sail from the Philippines Tuesday.

By this time tomorrow at least four coast guard and 26 large maritime militia ships on blockade [not counting ‘dark’ vessels],” he said on X (formerly Twitter).

“This will be by far the largest blockade I’ll have ever tracked at Scarborough. China seems determined to aggressively enforce its claim over the shoal, of which it seized control from the Philippines in 2012 as summarized by AsiaMTI,” he added.

The Coast Guard (PCG) said it will ensure the safety of the participants of the civilian mission amid the presence of Chinese vessels in Scarborough Shoal.

“For the PCG, our mandate is to ensure the safety of those who use the sea. So as far as the Coast Guard is concerned, that is the only thing we are focusing into: To make sure that our colleagues in the Atin Ito Coalition can sail freely,” Commo. Jay Tarriela, PCG spokesman for WPS issues said in Filipino.

Atin Ito held its first civilian mission to WPS with 40 participating boats in 2023.

The PCG on Wednesday dispatched two more vessels to escort the Atin Ito convoy to the Bajo de Masinloc to ensure the safety of the Filipino civilian movement.

Tarriela said the two vessels are in addition to BRP Bagacay that went ahead of the civilian convoy and would rendezvous with the group before it reaches Bajo de Masinloc.

“We also dispatched an aircraft to monitor the situation in Bajo de Masinloc,” Tarriela said.

The PCG spokesman, Rear Adm. Armando Balilo, said the two ships are BRP Panglao and BRP Boracay—both 24-meter patrol fast boats. “BRP Boracay is in Subic already. BRP Panglao is also on its way,” Balilo said. Edicio Dela Torre of the Philippine Rural Reconstruction Movement (PRRM) echoed these sentiments, stating, “The persistent aggression displayed by China in the West Philippine Sea only highlights its lack of legitimate claim. Our mission is a testament to the resilience and rightful assertion of our sovereignty by the Filipino people. This civilian supply mission is not just about delivering supplies, it’s about reaffirming our presence and rights in our own waters. The world is watching, and the narrative of rightful ownership and peaceful assertion is clearly on our side.” With PNA

Go assures protection of pensions for military, uniformed personnel

SEN. Christopher Go, during the Senate plenary session on Monday highlighted the importance of safeguarding the financial security of military and uniformed personnel, stressing his position that the pensions of those in active service and retired should remain intact and unaffected by the proposed legislative changes of Senate Bill 2501. Sponsored by Sen. Jinggoy Estrada, the bill addresses growing concerns about escalating pension requirements affecting government budget which is also exacerbated by current economic challenges. During the period of interpellations, Go emphasized the sacrifices made by military and uniformed personnel, stating, “Buhay ang isinasakripisyo nila para mapanatili ang seguridad ng bansa. Iba po ang sakripisyo nila dahil buhay nilaangnakataya.”

He highlighted the nature of these sacrifices, underscoring the need to carefully consider the pension reform bill to ensure it supports those who risk their lives for national security. Reflecting on past efforts to champion their welfare, Go recalled the salary increases for uniformed personnel during former President Rodrigo Duterte’s term, which doubled the entry-level salaries in 2018. The concerns raised by Go are based on reports of low morale and early retirements

among military and uniformed personnel, fearing potential changes to their pension plans. He strongly opposed any adjustments that would negate the salary increases previously granted.

“Karamihan sa kanila ay may pinaglalaanan na ng pera expecting na sa matatanggap nila once they retire,” explained Go who also serves as Vice Chair of the Senate Committee of National Defense and Security. Go also mentioned the tangible impact of potential pension cuts, comparing them to significant household expenses: ’Yung ikakaltas sa sundalo, katumbasna‘yanngisangsakongbigasnapwede nang ipakain ng ordinaryong sundalo sa pamilya nila.Malakingbagayna‘yansakanila.” Meanwhile, during the interpellation for the measure, Go opened with an urgent plea for clarity and assurance that the pension benefits of active and retired personnel would remain unaffected by the proposed legislative changes.

“So,paramataposomatuldukanna‘yungmga agam-agamdito, Mr. President. So,ina-assuren’yo saatingmgasundaloatuniformedpersonnelna hindisilamaapektuhandito?Hindimaapektuhan ang active at ang retired uniformed personnel natin Mr. President,” Go stated, seeking firm reassurances from Estrada.

prepares to embark from a wharf in Zambales.

March remittances post slight increase

By Reine Juvierre S. Alberto @reine_alberto

THE flow of cash remittances from overseas Filipinos registered a slight increase in March, latest data from the Bangko Sentral indicate.

Cash remittances in March this year amounted to $2.74 billion, a 2.5 percent increase from March 2023’s $2.67 billion.

Cash remittances coursed through banks from January to March this year reached $8.22 billion, higher by 2.7 percent than the $8 billion recorded in the same period in 2023 owing to growth in receipts from land- and sea-based workers.

“Cash remittances from abroad seem to be flowing steadily even if not yet above 3 percent—that is even if the peso appreciated to the dollar,” Executive Director Jeremaiah M. Opiniano of the Institute for Migration and Development Issues (IMDI) told the

DBy Manuel T. Cayon @awimailbox

AVAO CITY—A laboratory to process municipal and industrial waste is being put up in Cagayan de Oro City to help find sustainable energy solutions in Northern Mindanao, the Department of Science and Technology said.

The facility called Green Bio-Hydrogen to Energy Laboratory is being installed at the Xavier University-Ateneo de Cagayan and cost P4.99 million.

The research facility will convert low-value

BusinessMirror on Wednesday.

“It seems that Pinoys abroad had some extra income to spare,” he added.

Opiniano, who also serves as the Director of the University of Santo Tomas (UST) Research Center for Social Sciences and Education (RCSSED), said the return to normalcy of overseas deployment of Filipino workers also contributed to the steady flows of remittances sent home.

Last year, the Philippines set a new historic record of 2.3 million overseas Filipino workers (OFWs) deployed. This is higher than the 2.1 million OFWs deployed in 2019 before the Covid-19 pandemic, Opiniano added.

In addition, data from the BSP showed the growth in cash remittances from the United States, Saudi Arabia, United Arab Emirates (UAE), and Singapore contributed mainly to the increase in remittances in the first quarter of the year.

The US had the highest share of overall remittances during the period at

municipal and industrial waste into energy carriers for distributed power generation, the DOST said.

“Under the guidance of University President Fr. Mars P. Tan SJ, and Project Leader Shierlyn S. Paclijan, Xavier University envisions this facility as a hub for advancing cutting-edge, clean, and non-mass burn technologies derived from municipal and industrial wastes,” the DOST said. Additionally, it added, the laboratory will provide “tailored end-to-end recycling solutions to local governments and industries in the region, aligning with the broader goal

41.2 percent, followed by Singapore (7.2 percent) and Saudi Arabia (5.9 percent).

Moreover, BSP data also showed that personal remittances from Filipinos abroad increased by 2.6 percent in March 2023 from the $2.97 billion posted a year ago.

The cumulative personal remittances reached $9.15 billion, up by 2.8 percent from the $8.90 billion recorded in the first quarter of 2023.

The BSP said the personal remittances in March were driven by increased remittances from land-based workers with work contracts of one year or more and sea- and land-based workers with work contracts of less than one year.

“Then again, we wait for changing behaviors from OFWs and their families surrounding their handling of money,” Opiniano told this newspaper.

Opiniano cited the BSP’s Consumer Expectations Survey (CES) as of the first quarter of 2024 which showed that 32.1 percent of OFW households

allotted remittances to savings. This went down by 10.9 percent from 43 percent in the same period in 2023.

OFW households that made investments in the first quarter of 2024 also declined to 6.2 percent from 8.4 percent in 2023.

Earlier, Sen. Raffy T. Tulfo filed Senate Bill 2660 which aims to provide protection to the remittances of overseas Filipino workers.

Bank and non-bank financial intermediaries should grant a 50 percent discount on remittance fees and for such, it may claim the discounts granted as a tax deduction based on the cost of services rendered to OFWs.

This, however, would not increase the amount of remittances sent by OFWs to the country despite the discount, according to Opiniano.

“OFWs will not mind if there is a discount or if remittance rates are expensive. They will choose what is easier and nearer to them [to remit money],” Opiniano added.

waste to energy

of moving towards a circular economy.”

The laboratory’s primary objective is to demonstrate the viability of hydrogen-toenergy technologies in converting waste into power and heat generation.“This evidence and demonstration-driven approach is expected to facilitate broader adoption of sustainable practices in the region.”

“This endeavor aims to create energysufficient and independent communities, lessening the nation’s dependence on external fuel sources,” it added.

Enrico Paringit, executive director of the DOST Philippine Council for Industry, Energy,

Plastic bank rolls out ‘impact subscription’

VANCOUVER-BASED social fintech with a global plastic bottle deposit program that aims to help end poverty and stop plastics pollution has announced the launch of its impact subscription program to boost its plastic waste recovery effort.

At a press briefing, Plastic Bank founder and CEO David Katz, said Plastic Bank is expanding to reach more businesses and more areas in the Philippines through its impact subscription model.

A monthly impact contribution that guarantees the collection of a pre-set

amount of plastic bottles to be gathered by Plastic Bank’s collection communities, the Impact Subscription allows subscribers, whether big or small businesses, or individuals, to gain access to a Professional Impact Account, a centralized tool for subscribers to access marketing toolkits, impact certificates, quick pay top-ups, a customized Impact Page, storytelling templates, and exclusive updates.

Businesses can choose from various subscription levels to match their impact goals and budget, enhancing their

commitment to sustainability with every contribution. Upon subscribing, companies or individuals select their desired level of impact and gain access to their Professional Impact Account.

The subscription renews automatically every 30 days, ensuring continuous support for collection communities and seamless updates to the subscriber’s Impact Page.

“Whether a small company or individual, you now can make a difference and be part of the solution,” said Katz.

The Plastic Bank’s Impact Subscription

and Emerging Technology Research and Development (DOST PCIEERD) said his office provided the P4.99 million grant under the Institution Development Program (IDP).

“As we work together to become a nexus of innovation in the Philippines, we will continue our endeavor to provide support, not only to groundbreaking R&D and introducing innovation but also to make an impact,” Paringit said.

The project serves as a beacon of innovation and progress in the region as it supports Sustainable Development Goal 7 on Affordable and Clean Energy, Paringit added.

positions brands among purpose-driven market leaders, aligning their business with ethical practices that significantly boost consumer loyalty and enhance brand equity.

“In today’s market, consumers prioritize authenticity and are drawn to brands that reflect their values,” Katz said. This preference is supported by the 2020 Zeno Strength of Purpose study, which highlights the substantial benefits for brands with a strong purpose. The study shows that such brands experience four times higher purchase likelihood, six times greater customer retention during challenging times, 4.5 times more user recommendations, and 4.1 times more consumer trust. Jonathan L. Mayuga

Philippines faces challenges in digitalizing healthcare–DOH

THE Philippines continues to face challenges in digitalizing healthcare, Health Secretary Teodoro Herbosa said. The country’s geography is one of the fac-

tors, with nearly 60 percent of households still lacking Internet access.

“About 12 percent of Filipinos lack electricity, hindering digital technology

use, especially in isolated areas,” Herbosa said during his talk at the Global Health Care Week in Abu Dhabi.

Herbosa said infrastructure remains inadequate outside the National Capital Region despite making progress on digital healthcare during the Covid-19 pandemic when telemedicine became available.

To bridge digital challenges, Herbosa underscored the importance of investing in telehealth and digital literacy programs.

The emergence of telemedicine helped patients through the provision of remote healthcare services during the Covid-19 pandemic.

Herbosa said this reduced the unnecessary burdens on the health system as individuals need not visit health facilities to be treated.

“As we navigate the intersection of technology and healthcare, we must remember

that behind every data point and digital interface, there’s a human being seeking care and compassion. Let’s harness the power of innovation responsibly, ensuring that it serves humanity rather than replacing it,” he added.

The healthcare week aims to bring global health leaders together to discuss the changes and challenges in global health.

In the event, Herbosa tackled “Human UX: Maintaining Humanity in an Era of AI-Enabled and Digital Healthcare” where he addressed the critical balance between rapid technological advancements and preserving the human-centered approach in healthcare.

Digitalization of the country’s healthcare system and improving access to essential medicine during his leadership are the top two priorities of Herbosa since he was appointed Health secretary last year. PNA

Mudslide in Surigao mine puts spotlight on DENR regulatory capacity, group says

By Jonathan L. Mayuga @jonlmayuga

ALYANSA TIGIL MINA (ATM) questioned on Wednesday the government’s capacity to regulate the mining industry and ensure the safety of mining communities.

The group raised the issue of the mudslide that buried houses in Siana, Mainit, Surigao del Norte, due to the collapse of a portion of the tailings storage facility of Greenstone Resources Corp. (GRC).

The company, in a statement, attributed the tailings storage facility failure to recent seismic activities and the heavy downpour that hit the area. It has since halted the operation pending an investigation by the DENR.

“Are we benefiting from all these mining concessions around us, or are we just endangering people’s lives?

Why is the Marcos administration revitalizing the mining industry when mining disasters happen one after the other?” Jaybee Garganera, ATM

national coordinator asked.

Garganera reiterated the call for the DENR to focus on increasing its capacities to monitor, assess, and penalize erring mining companies for their violations or non-compliance.

“Moreover, we demand that the government seriously reconsider its policy of pushing for more mining just so it could meet the transition minerals requirement of China, US and EU. These are misplaced policies that may lead to more ‘sacrifice zones.’ We don’t need more communities suffering from human rights violations, environmental damage, and mining disasters for the sake of extracting transition minerals for other countries,” he said.

“What is needed is a rationalized approach to mining. The current Mining Act of the Philippines has to be repealed and replaced with a new law that puts a premium on the decisions of communities and the impact of mining to the environment at the same time that is serves the nation’s needs for minerals,” he said.

THE Department of Trade and Industry (DTI) in Bicol is targeting to generate around P10 million in sales as 50 micro, small and medium enterprises (MSMEs) join the Orgullo kan Bikol (OKB) Trade Fair at Shangri-La Plaza mall in Mandaluyong City from May 16-19.

Jocelyn Berango, DTI-Bicol spokesperson, said the OKB trade fair has become a platform to showcase the region’s heritage and demonstrate Bicolano’s resilience through high-quality products and delectable delicacies.

“OKB Trade Fair, through the years, has provided opportunities for our homegrown entrepreneurs to find new markets and become more competitive. The DTI aims to provide MSMEs with better avenues to promote their products and encourage

them to explore the global market,” she said in a telephone interview.

She said the exhibitors are from Albay (12); Camarines Norte (6); Camarines Sur (11); Catanduanes (6); Masbate (5); and Sorsogon (10). The annual marketing event, now on its 30th iteration, features specialty Bicol products including processed foods, pili dessert products, ceramics, furniture/furnishings, fine jewelry, bags, wearables, and home decors made of abaca and other raw materials available in the region.

DTI is inviting domestic and foreign buyers to visit the Bicol booth. The opening ceremony will be at 3 p.m. on May 16.

Interested buyers may email R05@ dti.gov.ph and/or message the Facebook page, @DTI Region V Bicol for their inquiries. PNA

FAVORITE SNACKS A vendor prepares banana cue and camote fries on a sidewalk on Visayas Avenue, Quezon City. Each order costs P25. PNA

German tech to manage ecozones sought

By Andrea E. San Juan @andreasanjuan

THE Philippine Economic Zone Authority (PEZA) said it aims to tap Germany’s “cuttingedge” technologies to upgrade the management of Philippine economic zones, particularly in the areas of clean water supply generation and wastewater treatment, among others.

The investment promotion agency attached to the Department of Trade and Industry (DTI) is engaging in its first outbound mission to Germany from May 13 to 17. A social media post by PEZA Director General Tereso O. Panga revealed that the mission was organized through the agency’s collaboration with the GermanPhilippine Chamber of Commerce and Industry (GPCCI), the European

Senate keen to hear China embassy side on ‘wiretap’

SENATORS are issuing a “friendly, polite, voluntary” invitation to Chinese Embassy officials to shed light on the apparent wiretapping of their conversation with a ranking Philippine military officer on a supposed “new model” for resupply missions for soldiers in the West Philippine sea, according to Sen. Francis Tolentino. Briefing reporters on Wednesday, Tolentino said he expects the Senate committee hearing to kick off “next week”, even as the National Bureau of Investigation has been directed by the DOJ to conduct its own probe of the matter. While diplomats enjoy immunity, Tolentino said wire tapping is a criminal offense under Philippine statutes, and therefore, all foreign diplomats in the country are bound to respect the prohibition on such. He lamented the leak of a transcript of the alleged conversation between a Chinese embassy official and former Wescom chief, Vice Adm. Alberto Carlos, regarding the conduct of future resupply missions for the BRP Sierra Madre in Ayungin Shoal. Carlos has since gone on leave.

Tolentino, an expert in international law, noted that Manila signed in 1965 the Vienna Convention on Diplomatic Relations; and China ratified the same in 1975. That Convention’s Article 41 says “diplomats must respect the laws and regulations of their host countries,” he stressed. And, with wiretapping being illegal in the Philippines, the diplomat guests are enjoined to respect the law. Meanwhile, Tolentino explained to journalists that any investigation by the Senate does not in any way entail an “acknowledgment that there was indeed a ‘new model’ that Manila and Beijing had agreed upon—a matter that China insists on, but which Philippine officials repeatedly deny.

This is why, Tolentino noted, his Senate Resolution 1023 seeking an inquiry precisely quoted a statement by Armed Forces chief Gen.Romeo Brawner ‘that he will not dignify the claims” of the embassy. The inquiry, Tolentino added, “does not have to be a confirmation” of the validity of the contents of any supposed agreement.

Asked if inviting diplomats to a Senate hearing is proper, since they enjoy immunity and cannot be cited for contempt, Tolentino said the invitation to the Chinese embassy officials is“friendly, polite, voluntary, without any compulsion.”

He cited a precedent, when foreign diplomats also attended a Senate hearing, during deliberations of the then-proposed Bangsamoro Autonomous Region in Muslim Mindanao.

Tolentino recalled several envoys, such as from“UK, EU, Norway, Sweden”voluntarily went to the Senate hearing.

The investigation, which he hoped would be supported by NBI experts, would seek to establish if indeed a wiretapping had taken place, because under the law, any recording without the other party’s consent, is wiretapping and thus illegal, “even if it’s just ceremonial greetings like ‘ni hao’, etc.” said the senator. Butch Fernandez

Chamber of Commerce of the Philippines, the Sumitomo Mitsui Banking Corp. (SMBC) and the Asian Consulting Group.

In an e-mail the PEZA sent to the BusinessMirror, the agency explained its agenda in Germany includes promoting Philippine economic zones to “prospective” investors.

In particular, PEZA’s delegation to Germany visited the 2024 trade fair Internationale Fachmesse für Abwasser-Technik (IFAT), which is considered as one of the world’s biggest water and environment events.

This visit, the investment promotion agency noted, is intended to help PEZA “benchmark cuttingedge technologies and cooperate with Germany’s government agencies to upgrade the management of our own zones.”

The PEZA underscored the importance of its collaboration with

By Butch Fernandez @butchfBM

THE Commission on Appointments (CA), acting on the recommendation of Sen. Jinggoy Estrada as chairman of the body’s Committee on Foreign Affairs, confirmed the promotion to foreign posts of 16 career foreign service officials.

The mass confirmation followed a public hearing on Wednesday morning after senators and congressmen sitting in the 24-member Commission considered and deliberated on the appointments.

“Your Committee found them all to be fit and qualified, meritorious of promotion to their respective ranks and title, and ruled to endorse them to the plenary for approval of this august chamber,” Estrada said.

He assured that “we are optimistic that the DFA, with its roster of capable and highly effective diplomats and envoys,16 of whom are here with us this afternoon and hopeful of securing the nod of the Commission, will continue to perform its mission of promoting and protecting Philippine interests in the global community.”

By Samuel P. Medenilla @sam_medenilla

AS local universities lag behind their Asian peers in terms of the quality of education, President Ferdinand R. Marcos Jr. said the country is at risk of missing its economic goals.

The chief executive made the remark in his speech during the National Higher Education Summit at the Philippine International Convention Center in Pasay City last Wednesday.

During the event, he lamented the performance of local universities in the recent Times Higher Education’s 2024 Asia University Rankings.

“We must acknowledge that in the recent Times Higher Education’s

Germany particularly in terms of managing Philippine ecozones.

“Our collaboration with Germany is important as we get a better sense of the German’s appreciation of the ‘Best Available Technology’ and how it applies to the management of our zones in terms of clean water supply generation and wastewater treatment through possible collaboration with the Bavarian Ministry of Economic Affairs, Bavarian Environment Agency for technical training and the German Water Partnership for technical assessment of our public economic zones,” read PEZA’s email to the BusinessMirror.

“This principle applies to all technology ensuring the production of goods, performance of work and provision of services based on modern advances in science and technology with minimal impact on the environment,” it added.

The PEZA’s email read it plans

“Whether in the home office or overseas, we expect our career officers to embody and live by the core values of patriotism, integrity, professionalism, excellence and service at all times,” he said, adding: “Distinguished colleagues, I respectfully recommend that this body confirm the  ad interim appointments of the following:

1. Maria Elena Palo Algabre— Chief of Mission, Class I. She is currently serving as DF A A ssistant Secretary of the Office of European Affairs.

2. Celeste Sardillo VinzonBalatbat—Chief of Mission, Class I deployed as Ambassador Extraordinary and Plenipotentiary to the Republic of Chile, with concurrent jurisdiction over the Republic of Ecuador and the Republic of Peru.

3.  Paul Raymund Pasion Cortes —Chief of Mission, Class I Last March 2023, he was confirmed as Ambassador Extraordinary and Plenipotentiary to the Portuguese Republic, with concurrent jurisdiction over the Republic of Cabo Verde, the Republic of Guinea-Bissau, the Democratic Republic of Sao Tome and Principe, and the Republic of Angola (virtual)

2024 Asia University Rankings, unfortunately, no Philippine university has reached Top 100, with the country’s top schools either dropping or maintaining their rankings,” Marcos said.

The local universities included in the list are Ateneo de Manila University, University of the Philippines, and De La Salle University. All three universities failed to land on the top 100 list this year.

The ranked universities were evaluated based on their research quality, research environment, teaching, industry, and international outlook.

Marcos said the country may not be able to produce its needed skilled workforce to implement the “national economic blueprints” if

to partner with German businesses in the semiconductor, automotive safety sensor and pharmaceutical sectors, among others.

While the PEZA declined to identify the firms, the agency said it secured a meeting with the world’s “largest producer of Silicon Carbide membranes,” a company considered as a “pioneering technology in filtration and wastewater treatment.” The PEZA also noted that one of the world’s top car makers has a stake in this company.

The PEZA added a meeting was also held with its representatives and executives of “one of the world’s largest manufacturers of discrete semiconductors and passive electric components that are essential to innovative designs across several industries such as automotive, industrial, computing, military, aerospace, and medical markets.”

The PEZA said a meeting was also held with a “known German firm”

4. Arvin Reyes De Leon— Chief of Mission, Class I Currently, he serves as Assistant Secretary in the DFA Office of Public Diplomacy.

5.  Francisco Noel Rio Fernandez—Chief of Mission, Class I. He is the Director General of the Foreign Service Institute (FSI).

6. Patric John Uytiepo HiladoChief of Mission, Class I—He serves in the home office as Assistant Secretary, Office of Asset Management and Support Services.

7.  Iric Cruz Arribas—Chief of Mission, Class IIA resident of San Juan City, he is assigned in Philippine Embassy in Washington, DC. as Minister and Consul General. (virtual)

8. Renato Ner Dueñas Jr.— Chief of Mission, Class II. He is the Director of the DFA Office of Middle East and African Affairs.

9. Emmanuel Revilla Fernandez—Chief of Mission, Class IIStationed in Philippine Embassy in Singapore as Deputy Head of Mission and Consul General. (virtual)

10. Raphael Sta. Cruz Hermoso—Chief of Mission, Class II.  Presently, he serves as Deputy Assistant Secretary and Executive Director (North and Northeast Asia Division) of the Office of Asian and

into manufacturing of automotive safety sensors, which is currently present in the Philippines.

Moreover, PEZA said it is meeting with “one of the world’s biggest pharmaceutical companies that is into life sciences, healthcare and electronics.”

In the automotive space, PEZA divulged that it also met “one of the world’s leading car makers headquartered in Germany” and a company into Pharma laboratory and medical equipment calibration.

“We are excited to announce the identities of these companies should they decide to invest in the Philippines,” the PEZA told this paper.

According to the PEZA, there are 37 German registered business enterprises (RBEs). Investments approved from the European country as of December

Pacific Affairs of the DFA.

11. Pablito Austria Mendoza—Chief of Mission, Class II. Deployed as Deputy Chief of Mission and Consul General in Philippine Embassy in Brussels, Belgium. (virtual)

12. Noel Mangaoang Novicio— Chief of Mission, Class II-Serves as Minister at the Permanent Mission of the Republic of the Philippines to the United Nations in New York, USA (virtual)

13. Rhenita Balagtas Rodriguez—Chief of Mission, Class II- At present, she is posted as Deputy Head of Mission and Consul General in Philippine Embassy in London, United Kingdom. (virtual)

14. Gunther Emil Mayo Sales—Chief of Mission, Class II. Executive Director of the DFA Office of American Affairs.

15.  Arnel Gonio Talisayon— Chief of Mission, Class II. He is currently assigned as Minister and Consul General in Philippine Embassy in Beijing, People’s Republic of China. (virtual)

16. Rea Galanao Oreta— Career Minister. She sits as First Secretary and Consul General in Philippine Embassy in Ottawa, Canada. (virtual).

‘Quality of higher education must improve’ Solon wants to reduce PhilHealth

By Jovee Marie N. Dela Cruz @joveemarie

the country lacks internationally recognized universities.

“Without a national pool of talent who can master new technologies and adjust quickly to tectonic changes, the country will be perpetually catching up, left behind by other societies whose educational system have been made [them] more adept,” Marcos said.

He pointed out that while there have been some gains to enhance the competitiveness of the country’s universities, “much work is still to be done.”

To address the situation, he called on representatives of the public and the private sector at the summit to collaborate in creating a comprehensive and all-encompassing strategy to improve the quality of

the local tertiary education. “So, as we look further into the horizon in our higher [education] sector, I hope that this summit yields answers and solutions to the challenges and opportunities that we now face in our higher [education] sector,” Marcos said. He assured his administration is committed to provide the necessary support to the education institutions, including the implementation of the Universal Access to Quality Tertiary Education Act.

“We have allocated close to P134 billion for our state and local universities and colleges this year so that more students can receive free tertiary education and more families will be eased of the burden of having to pay for college,” the President said.

2023 is at P30.338 billion.

Some of the top German firms registered with PEZA are: Continental Autonomous Mobility Philippines Inc.; Lufthansa Technik Philippines Inc.; Zama Precision Industry Manufacturing Philippines Inc; Majorel Philippines Corp.; Bayer Business Services Philippines Inc.; Federal-Mogul Powertrain Philippines Inc.; Merck Business Solutions Asia Inc.; and, Mercedes-Benz Group Services Philippines Inc.

propose is to do away with this fixed schedule and adopt a principle of actuarially fair premiums,” she suggested. “We could start with a 4-percent premium rate, down from the current 4.5 percent.” Quimbo also urged PhilHealth to be transparent and open to

19.

21. LYU, XUEWEI Project Manager progress.

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#81 Bayani, Doña Imelda, Quezon City

69. NA, YOUNGJU Maintenance Trainor Develops, coordinates, and presents training for employees enrolled in the targeted maintenance training program. At least 35-40 years of age. Candidate must possess bachelor’s degree in engineering

‘Costly imports drive up prices of local palay’

By Ada Pelonia @adapelonia

THE average farmgate price of unmilled rice jumped by nearly a third in April, according to the latest data released by the Philippine Statistics Authority (PSA).

Data from the PSA indicated that the farmgate price of palay went up by 30.5 percent to P24.52 per kilo in April, from P18.79 per kilo a year ago.

Manila trains spotlight on agriculturists

By Samuel P. Medenilla @sam_medenilla

THE Philippines will celebrate Agriculturists’ Month and Nutrition Month in July based on the latest directive issued by President Ferdinand R. Marcos Jr. Marcos issued Proclamation No. 544 which declared the month of July as Philippine Agriculturists’ Month “to help raise awareness on the importance of the agriculture sector to the country’s economic competitiveness.”

The chief executive said in the directive dated May 10 that he recognizes the importance of agriculturists, professionals engaged in the science, practice, and management of agriculture and agribusiness, in achieving national food security.

“The celebration of the Philippine Agriculturists’ Month will engage professional agriculturists in agricultural advocacy, policy research and formulation and provide an avenue for enterprise-building, communications training, and community development,” Marcos said.

He tasked the Department of Agriculture (DA) and the Professional Regulation Commission (PRC) and its Board of Agriculture to coordinate and supervise the observance of the Philippine Agriculturists’ Month and identify the programs, activities, and projects for the annual celebration.

Government agencies and instrumentalities as well as local government units and the private sector are encouraged to support the initiatives for the commemoration of the event.

One of the country’s education institutions, which produce agriculturist, is the Manila School of Agriculture. Established in July 1989, it provides theoretical and practical education to skilled farmers and overseers and promotes agricultural development in the Philippines thereby paving the way for agriculture to formally become an educational course in the Philippines.

The agriculture, fisheries and forestry sector contributes about 10 percent to the country’s GDP. However, its share to total employment is pegged at around 25 percent.

The Philippine Statistics Authority (PSA) reported last week that the country’s farm output posted a slight gain in the first quarter despite the havoc wreaked by El Niño on local plantations.

PSA data indicated that farm production inched up by 0.05 percent in terms of value using constant 2018 prices. The crops, livestock, and fisheries subsectors recorded declines in terms of value, according to PSA data. The poultry and fisheries subsectors prevented the performance of Philippine agriculture from falling into negative territory.

“Farmgate prices refer to the prices received by farmers for the sale of their produce at the first point of sale net of the total marketing cost paid by the farmers,”

the PSA said.

“These prices are determined at the farmgate or first point of sale transactions and are also known as ‘producer prices’.”

Roehlano Briones, a senior research fellow at the Philippine Institute for Development Studies, said the surge in global rice prices made local palay more expensive.

“Simply put import prices, the price of rice in the world market has also gone up. Philippines is the world’s biggest importer, importing something like almost 30 percent of our rice requirement,” Briones told the BusinessMirror in a phone interview.

“Definitely kapag nagmahal sa pandaigdigang merkado, mamahal

din ‘yung bigas locally and kapag nagmahal locally, it will cascade down the supply chain. They will be scrambling for more palay to mill into rice locally and that will drive up palay price.”

On a monthly basis, however, the average farmgate price of unmilled rice in April dipped slightly from the P24.55 per kilo recorded in March.

PSA data showed that the highest increase was recorded in Western Visayas, where the average price registered a year-on-year growth of 40.7 percent. The average palay farmgate price in Western Visayas reached P27.48 per kilo in April 2024, higher than the previous year’s P19.53 per kilo.

The slowest year-on-year in-

crease in farmgate prices was recorded in the Bicol Region at 18 percent. The average palay price went up to P22.19 per kilo in April 2024 from P18.80 per kilo in the same period last year.

On a month-on-month basis, the highest increase in April was recorded in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

Data also showed that the average farmgate price in the Caraga region contracted by 6.1 percent to P21.57 per kilo in April from P22.96 per kilo a month ago.

The highest average palay farmgate price in Ilocos Region reached P27.98 per kilo in April, higher than the previous year’s P20.40 per kilo.

This was followed by Western Visayas where farmgate prices averaged P27.48 a kilo; Central Luzon, P25.81; Cagayan Valley, P25.62; Cordillera Administrative Region, P25.60; and BARMM, P25.57 per kilo.

The lowest average palay farmgate price was registered in Eastern Visayas where it reached P19.78 per kilo; Caraga, P21.57; Calabarzon, P23.34; Soccsksargen, P23.61; Zamboanga Peninsula, P24.23; and Mimaropa, P24.67 per kilo.

The PSA said the monthly data on the farmgate prices of palay are obtained from the results of the Farm Price Survey for Palay conducted on the last five days of the reference month.

NTA more worried about impact of La Niña on tobacco farms

LA NIÑA is more harmful to tobacco than El Niño as heavy rainfall and floods could cause extensive damage to crops, according to an official of the National Tobacco Administration (NTA).

“When it rains for 24 hours and the standing tobacco crops are soaked, they will die,” NTAPangasinan branch manager Roger Madriaga said in a radio interview.

He said, however, that El Niño also caused damage to standing tobacco crops and increased the production cost of farmers who had to use more irrigation water.

Madriaga said farmers in Pangasinan who delayed their planting were hit hard by the weather phenomenon. Some of the affected plantations are in Alcala and San Fabian, according to NTA.

“In Alcala, NTA recorded 110 hectares (ha) out of 592 ha of tobacco plantations that were affected by El Niño. In San Fabian,

some 50 has were affected.”

Madriaga said, however, that these areas represent only 6 percent of Pangasinan’s 2,426 ha of

tobacco farms.

“The affected areas had low yield because their tobacco was stunted by the lack of water from their shallow tube well source.”

Meanwhile, Madriaga said the NTA considers the rampant smuggling of cigarettes as the agency’s “biggest challenge.”

“The (country) has already lost billions of pesos in cigarette taxes due to smuggling.”

Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. earlier ordered the agency’s officials to step up their campaign against illegal vape and cigarette traders, who are considered tax evaders.

“It is criminal in nature. The nationwide forces of the BIR have their orders to continue raiding and filing criminal cases against

any individual or business that is involved in the illicit vape and cigarette trade,” Lumagui was quoted as saying in a statement.

Data from the Philippine Statistics Authority (PSA) indicated that tobacco production in the first quarter rose by 9.5 percent to 11,360 metric tons (MT) from the previous year’s 10,370 MT.

In a report on industrial crops it published last June 2023, the PSA said Virginia tobacco was the most produced variety in the first quarter of 2023.

“The bulk of tobacco production came from Ilocos Region with 9.26 thousand metric tons or 89.3 percent share to the total tobacco production for this quarter, while Cordillera Administrative Region came next with 9.0 percent share.” Ada Pelonia

Sultan Kudarat planters undergo training on value addition

By Jonathan L. Mayuga @jonlmayuga

THE Department of Agrarian Reform (DAR) in Sultan Kudarat recently provided training to agrarian reform beneficiary (ARB) members of the Masiag Coffee Growers Agrarian Reform Cooperative (Macgarco) to develop and add value to their squash products.

DAR Chief Agrarian Reform Program Officer Rhea Marie Betque said the training aims to help the ARBs engage, add value to their crops, and become successful farmer entrepreneurs to increase their profits and income.

“For instance, selling fresh squash products only amounts to P5.00 to P7.00, but processing about 2 kilos of squash products

into squash noodles can generate a revenue of P595.00.”

Macgarco has the necessary materials for the training, such as stainless tables, noodle machines, vacuum sealers, and other utensils, which the DAR also provided. It also received a mixer and a blender from DAR to help enhance the quality of their products.

“The goal of this initiative

TUNISIA, which has ghosted the International Monetary Fund (IMF) and feuded with Europe over aid for its languishing economy, has turned olive oil exports into a money spinner to help keep default fears at bay.

Cultivated in Tunisia for millennia, olive groves dotting the North African country’s plains have emerged as a financial backstop during a global production squeeze caused by back-to-back droughts in key European growers. Coming off a record haul in 2023, revenues from sales of olive oil abroad almost doubled to about 3.4 billion dinars ($1.1 billion) in the first half of the export year that ended in April—according to the country’s olive oil agency ONH—far exceeding what Tunisia is earning from tourism and its crucial phosphate and fertilizer industry.

It’s a windfall that helped the current-account balance narrow dramatically last year to reach a deficit of 2.5 percent of gross domestic product, the smallest in nearly two decades and down from close to 9 percent in 2022,

according to IMF estimates.

“Tunisia’s economy shows some resilience, despite ongoing challenges,” Alexandre Arrobbio, the World Bank’s country manager for Tunisia, said in a report. “Increased exports in textiles, machinery, and olive oil, coupled with growing tourism exports, have helped to ease the external deficit.”

A niche industry that provides a staple of home kitchens around the world can hardly on its own measure up to the challenges facing Tunisia, with the equivalent of almost $8 billion needed this year to service foreign liabilities alone.

As talks stalled with the IMF over a $1.9-billion rescue package negotiated more than a year and a half ago, Tunisia has been leaning on its central bank for direct financing of its budget and debt repayments, an unorthodox path championed by President Kais Saied that’s been draining currency buffers. Still, what Saied calls “this blessed tree” now looms large for Tunisia’s financial survival, alongside funding received from the likes of Saudi Arabia and Afreximbank.

At the start of this year, Tuni-

is to strengthen and help the members of agrarian reform beneficiaries organizations become competent while helping them increase their household income,” Betque said. She said the objective of the training is in line with the 9-point agenda of the current DAR administration, which includes the provision of support services through modern farm equipment, fertilizers, and other farm implements and inputs, credit assistance, capacity development and marketing assistance to the ARBs.

“On behalf of the Macgarco, I am extending our heartfelt gratitude to the DAR for this valuable training. The training enhanced our skills and shaped us to become successful farmer entrepreneurs,” Jennifer Farillon, chairman of Macgarco said.

Olive oil windfall becomes lifeline for Tunisia with IMF on hold

sia’s bonds traded in distressed territory and the country was ranked among the emerging nations most exposed to debt risk in Bloomberg Economics’s default vulnerability scorecard.

A turnaround since then has seen the spread on Tunisia’s bonds over Treasuries fall to the lowest in more than four years. Credit default swaps, a gauge of country risk, are at less than half their record level in March 2023.

Tellimer, a brokerage focused on emerging markets, is urging caution after the debt rally, “with Tunisia’s longer-term prospects likely to remain weak without a renewed reform push.”

The boom in Tunisian olive oil exports has benefited from a stretch of record prices that started after a devastating drought in Spain and only began to stabilize at the start of this year.

Tunisia’s exported volumes of olive oil rose by about 12 percent in annual terms during the six months through April, a period when prices for the product grew by an average of more than 70 percent.

The industry has persevered in Tunisia through the upheaval

wrought by climate change and the Arab Spring revolts. Employing over a million people, it makes up about a third of Tunisia’s agricultural output and 40 percent of its farm exports.

Planted areas expanded by a third since 2002, helping Tunisia navigate the fallout of climate change and drought on output.

Olive oil exports delivered bumper proceeds for the country despite a decline in domestic output, contributing to an improvement in the current account last year that helped Tunisia accumulate more than $1 billion in foreign currency reserves, according to economists at JPMorgan Chase & Co.

At the same time, Tunisia exports about 90 percent of its olive oil in bulk, cutting into profits. The current account is still on track to run an annual deficit of around $2 billion in the coming years, with foreign currency reserves now only sufficient to cover 109 days of imports.

The government has a 50 billion-yen ($321 million) bond that matures in October and a $1 billion eurobond coming due next January. Bloomberg News

A TOBACCO farmer in Ilocos Sur is seen in this BUSINESSMIRROR file photo collecting crabgrass.

Editor: Angel R. Calso

Biden administration is sending $1 billion weapons to Israel, congressional aides say

By Seung Min Kim, Ellen Knickmeyer & Zeke Miller

The Associated Press

WASHINGTON—The Biden administration has told key lawmakers it would send more than $1 billion in additional arms and ammunition to Israel, three congressional aides said Tuesday. But it was not immediately known how soon the weapons would be delivered.

It’s the first arms shipment to Israel to be revealed since the administration put another arms transfer, consisting of 3,500 bombs of up to 2,000 pounds each, on hold this month. The Biden administration, citing concern for civilian casualties in Gaza, has said it paused that bomb transfer to keep Israel from using those particular munitions in its offensive in the crowded southern Gaza city of Rafah.

The package disclosed Tuesday includes about $700 million for tank ammunition, $500 million in tactical vehicles and $60 million in mortar

rounds, the congressional aides said. They spoke on condition of anonymity to discuss an arms transfer that has not yet been made public.

There was no immediate indication when the arms would be sent. Two congressional aides said the shipment is not part of the long-delayed foreign aid package that Congress passed and President Joe Biden signed last month. It wasn’t known if the shipment was the latest tranche from an existing arms sale or something new.

The Biden administration has come under criticism from both sides of the political spectrum over its military support for Israel’s now seven-monthold war against Hamas in Gaza—at a time when Biden is battling for reelection against former President Donald Trump.

Some of Biden’s fellow Democrats have pushed him to limit transfers of offensive weapons to Israel to pressure the US ally to do more to protect Palestinian civilians. Protests on college campuses around the US have driven home the message this spring.

PRESIDENT Joe Biden speaks at the Asian Pacific American Institute for Congressional Studies’ 30th annual gala on Tuesday, May 14, 2024, in Washington. AP/ALEX

Republican lawmakers have seized on the administration’s pause on the bomb transfers, saying any lessening of US support for Israel—its closest ally in the Middle East—weakens that country as it fights Hamas and other Iran-backed groups. In the House, they are planning to advance a bill this week to mandate the delivery of offensive weaponry for Israel.

security spokesman John Kirby told reporters Monday. “For him, this is very straightforward: He’s going to continue to provide Israel with all of capabilities it needs, but he does not want certain categories of American weapons used in a particular type of operation in a particular place. And again, he has been clear and consistent with that.”

The Wall Street Journal first reported the plans for the $1 billion weapons package to Israel.

In response to House Republicans’ plan to move forward with a bill to mandate the delivery of offensive weapons for Israel, the White House said Tuesday that Biden would veto the bill if it were to pass Congress.

York Rep. Ritchie Torres, said he would likely vote for the bill, despite the White House’s opposition.

“I have a general rule of supporting pro-Israel legislation unless it includes a poison pill—like cuts to domestic policy,” he said.

In addition to the written veto threat, the White House has been in touch with various lawmakers and congressional aides about the legislation, according to an administration official.

Despite the onetime suspension of a bomb shipment, Biden and administration officials have made clear they will continue other weapons deliveries and overall military support to Israel, which is the largest recipient of US military aid.

The bill has practically no chance in the Democratic-controlled Senate.

Biden will see to it that “Israel has all of the military means it needs to defend itself against all of its enemies, including Hamas,” national

But House Democrats are somewhat divided on the issue, and roughly two-dozen have signed onto a letter to the Biden administration saying they were “deeply concerned about the message” sent by pausing the bomb shipment.

One of the letter’s signers, New

“We strongly, strongly oppose attempts to constrain the President’s ability to deploy US security assistance consistent with US foreign policy and national security objectives,” White House press secretary Karine Jean-Pierre said this week, adding that the administration plans to spend “every last cent” appropriated by Congress in the national security supplemental package that was signed into law by Biden last month.

The Associated Press writers Stephen Groves, Lisa Mascaro and Aamer Madhani contributed.

as Lee Hsien Loong bows out after 20 years

Lawrence Wong will be sworn in as Singapore’s PM,

KBy Eileen Ng The Associated Press

UALA

LUMPUR, Malaysia—

Singapore’s deputy leader Lawrence Wong is set to be sworn in Wednesday as the nation’s fourth prime minister in a carefully planned political succession designed to ensure continuity and stability in the Asian financial hub.

A US-trained economist, Wong, 51, succeeds Lee Hsien Loong, 72, who stepped down after two decades at the helm. Lee’s resignation marked the end of a family dynasty led by his father Lee Kuan Yew, Singapore’s charismatic first leader who built the colonial trading outpost into a business-friendly, affluent country during 31 years in office.

Wong, a civil servant turned politician, came to prominence while coordinating Singapore’s successful fight against Covid-19. But he wasn’t the first choice for the top job.

Heng Swee Keat, a former central bank chief and education minister, was the anointed successor but he withdrew his nomination in 2021. Wong was then picked by the ruling People’s Action Party in 2022 to fill the vacuum and quickly promoted to deputy prime minister.

“I will certainly strive to be a leader who is strong, kind and decisive. And I will do my best to build a Singapore where everyone

can realize their full potential,” Wong said on social media earlier this month.

Wong’s ascension to the top has been meticulously crafted by the PAP—one of the world’s longest-serving political parties and known for its clean and effective governance—and will not change the dynamics in the tiny nation of some 6 million people.

Wong has retained the Cabinet and held onto his finance portfolio as he prepares for his first big test in general elections due by 2025 but widely expected to be called this year. Before taking office, he promoted Trade Minister Gan Kim Yong as one of two deputy premiers. The other deputy is Heng.

Lee will stay on as a senior minister, a path taken by all former premiers.

While victory in the election is assured, Wong must clinch a stronger win after the PAP suffered a setback in 2020 polls over voters’ rising discontent with the government.

Singapore under Lee’s rule flourished into one of the world’s wealthiest nations, but it also became one of the most expensive cities to live in. The PAP has also been criticized for tight government control and a government-knows-best stance, media censorship and the use of oppressive laws against dissidents.

Issues like widening income disparity, increasingly unaffordable

housing, overcrowding caused by immigration and restrictions on free speech are often used as fodder by the opposition and have loosened the PAP’s grip on power.

“One-party dominance in Singapore is weakening but the challenge for the PAP leadership is to slow down the process,” said Eugene Tan, a law professor at Singapore Management University.

Bridget Welsh, a Southeast Asia political expert, said Lee “will be remembered for steering Singapore quietly and successfully through turbulent waters from the 2008-2009 financial crisis and Covid-19. He helped to build resilience in Singapore.... (But) Singapore has become a more complex society, with more open demands, making the task of governing (for Wong) more challenging.”

Wong was born seven years after Singapore separated from Malaysia and gained independence in 1965. His father was a migrant from China and his mother was a teacher. Unlike many senior PAP leaders, he didn’t have a privileged background. Observers have said this could help him connect better with the common citizen.

Wong earned a scholarship to study in the US, later obtaining a masters’ degree in economics from the University of Michigan and another masters’ degree in public administration from Harvard University. He

Indonesia seeds clouds to block rainfall after floods killed 58

By Kasparman Piliang & Niniek Karmini The Associated Press

TANAH

away people and 79 homes and submerged hundreds of houses and buildings, forcing more than 1,500 families to flee to

Management Agency spokesperson Abdul Muhari.

He said that 58 bodies had been pulled from mud and rivers by Wednesday, mostly in the worst hit Agam and Tanah Datar districts, while rescuers are searching for 35 people who are reportedly missing. About 33 villagers were injured.

Indonesia’s Meteorology, Climatology and Geophysics Agency head Dwikorita Karnawati has said that more downpours were forecast for West Sumatra in the coming days, and that the danger of extreme rainfall would continue until next week.

Karnawati said an air force plane was sent up to shoot salt flares into the clouds on Wednesday, in an attempt to get the clouds to release water and break up before they reach the devastated areas in Agam, Tanah Datar, Padang Panjang, Padang Pariaman as well as Padang city, the provincial capital. The method is known as cloud seeding

spent years in public service including as a principal private secretary to Lee before entering politics in 2011. He has handled the defense, education, communications, culture, community and youth portfolios.

Like Lee, Wong is active on social media. Married with no children, he doesn’t reveal much about his private life but has offered glimpses into his interests in music and dogs, and he is a fan of tennis star Roger Federer. He often posts videos of himself playing guitar.

Wong has launched a Forward Singapore plan to let Singaporeans have a say in how to develop a more balanced, vibrant and inclusive agenda for the next generation. Wong often speaks in a flat tone and may not appear charismatic, but he is widely seen as a reliable and accessible leader.

“We can expect his leadership to be more consultative ... one that will emphasize the team concept wherein his key lieutenants will be prominent,” said law professor Tan.

Tan said Wong’s immediate priorities will be to address issues including the rising cost of living, housing affordability and job security. “Breadand-butter issues remain vital even for a prosperous country, partly because of Singapore’s innate vulnerabilities,” he said.

In foreign policy, Tan said Wong needs to navigate the “Sino-American power rivalry in which Southeast Asia has become a proxy theater of the contest.” Singapore, like some of its neighbors, has stayed neutral but it may be forced later to choose sides on a variety of issues, he said.

people while 35 are missing

and creates precipitation, thereby modifying weather.

Indonesia’s air force teamed up with the country’s technology agency to carry out three rounds of cloud seeding on Wednesday, Karnawati said, adding that more would take place as needed. About 15 tons of salt have been prepared for Wednesday’s action.

Indonesia’s technology agency, known as BPPT, said in a statement that all rain clouds moving towards the four West Sumatra’s districts will be shot with sodium chloride, or salt.

“We are deploying weather modification technology starting tomorrow so that rain does not fall during this emergency response period,” National Disaster Management Agency chief Suharyanto, who goes by a single name like many Indonesians, told reporters on Tuesday. He spoke while visiting the district of Agam and said that the emergency response will end on May 25.

A search operation was underway Wednesday as rescue workers combed through rivers and the rubble of devastated villages where roads were transformed into murky brown rivers and villages were left covered by thick mud, rocks, and uprooted trees.

Heavy rains cause frequent landslides and flash floods in Indonesia, an archipelago nation of more than 17,000 islands where millions of people live in mountainous areas or near floodplains.

Marapi has been active since an eruption late last year that killed 23 climbers. It is among more than 120 active volcanoes in Indonesia. The country is prone to seismic upheaval because of its location on the Pacific “Ring of Fire,” an arc of volcanoes and fault lines encircling the Pacific Basin.

Karmini reported from Jakarta, Indonesia

Sweltering heat across Asia 45 times more likely because of climate change, study finds

By Sibi Arasu The Associated Press

BENGALURU, India—Sizzling heat across Asia and the Middle East in late April that echoed last year’s destructive swelter was made 45 times more likely in some parts of the continent because of human-caused climate change, a study Tuesday found.

Scorching temperatures were felt across large swaths of Asia, from Gaza in the west—where over 2 million people face clean water shortages, lack of health care and other essentials amid the Israeli bombardment—to the Philippines in the southeast, with many parts of the continent experiencing temperatures well above 40 degrees Celsius (104 degrees Fahrenheit) several days in a row.

The study was released by the World Weather Attribution group of scientists, who use established climate models to quickly determine whether human-caused climate change played a part in extreme weather events around the world.

In the Philippines, scientists found the heat was so extreme it would have been impossible without human-caused climate change. In parts of the Middle East, climate change increased the probability of the event by about a factor of five.

“People suffered and died when April temperatures soared in Asia,”said Friederike Otto, study author and climate scientist at Imperial College in London. “If humans continue to burn fossil fuels, the climate will continue to warm, and vulnerable people will continue to die.”

At least 28 heat-related deaths were reported in Bangladesh, as well as five in India and three in Gaza in April. Surges in heat deaths have also been reported in Thailand and the Philippines this year according to the study.

The heat also had a large impact on

agriculture, causing crop damage and reduced yields, as well as on education, with school vacations having to be extended and schools closed in several countries, affecting thousands of students.

Myanmar, Laos and Vietnam broke records for their hottest April day, and the Philippines experienced its hottest night ever with a low of 29.8 degrees Celsius (85.6 degrees Fahrenheit). In India, temperatures reached as high as 46 degrees Celsius (115 degrees Fahrenheit). The month was the hottest April on record globally and the eleventh consecutive month in a row that broke the hottest month record.

Climate experts say extreme heat in South Asia during the pre-monsoon season is becoming more frequent and the study found that extreme temperatures are now about 0.85 degrees Celsius (1.5 Fahrenheit) hotter in the region because of climate change.

Internally displaced people, migrants and those in refugee camps were especially vulnerable to the searing temperatures, the study found.

“These findings in scientific terms are alarming,” said Aditya Valiathan Pillai, a heat plans expert at New Delhi-based think tank Sustainable Futures Collaborative. “But for people on the ground living in precarious conditions, it could be absolutely deadly.” Pillai was not part of the study.

Pillai said more awareness about heat risks, public and private investments to deal with increasing heat and more research on its impacts are all necessary to deal with future heat waves.

“I think heat is now among the foremost risks in terms of personal health for millions across the world as well as nations’economic development,” he said.

TheAssociated

BRANDON

Meralco’s franchise renewal: A boon for Philippine economy

THE proposal to extend Meralco’s franchise by another 25 years deserves serious consideration by lawmakers. As outlined by House Committee on Ways and Means Chairman Joey Salceda, there are compelling economic reasons to grant this extension. While Meralco’s current franchise remains valid until 2028, Salceda argued that extending it is not only justified by the company’s compliance with franchise law conditions but also by the positive impact it has on the economy and consumers. (Read the BusinessMirror story: “Extension of Meralco franchise pushed,” May 14, 2024).

One of the key points highlighted by Salceda’s proposed measure is Meralco’s superior ser vice compared to other major electric cooperatives and distribution utilities. Consumers ser ved by Meralco experience minimal outages annually, which is in stark contrast to the prolonged blackouts faced by consumers in areas ser viced by other ECDUs. Salceda said that if all ECDUs performed as efficiently as Meralco, the economy would benefit from an additional P201 billion in gross value added annually due to avoided outages. This demonstrates the significant economic advantages that Meralco’s reliable ser vice brings to the table.

Furthermore, Salceda commended Meralco for its robust financial standing, enabling the company to secure power supply agreements (PSAs) in compliance with competitive selection rules. Meralco’s ability to maintain low system loss charges is also acknowledged, which is attributed to the substantial investments the company has made over the past two decades to enhance electric ser vice. These investments, totaling P220 billion, have contributed to Meralco’s effectiveness as a ser vice provider and have garnered interest from numerous municipalities and cities outside the franchise area that wish to be ser ved by Meralco.

In addition to the economic benefits, Salceda’s bill proposes to expand the scope of Meralco’s operations. T he existing franchise, Republic Act 9209, does not include prov isions for extending ser v ices to adjacent or nearby areas. T he proposed bill addresses this limitation by allow ing Meralco to prov ide ser v ice to other prov inces, cities, municipalities, or barangays upon the request of their residents, subject to a referendum or court directive. T his expansion would not only benefit the areas seek ing Meralco’s ser v ices but also contribute to the company’s growth and potentially generate more economic opportunities.

The financial performance of Meralco further supports the argument for franchise renewal. The company reported a significant increase in net income, driven by strong growth in energy sales and higher earnings from its power generation businesses. Meralco’s success in both its power distribution and power generation sectors underscores its competence and stability as a key player in the energy industr y.

Renewing Meralco’s franchise for another 25 years aligns with the goal of fostering a stable and efficient power distribution system. The company’s track record of reliable ser vice, robust financial standing, and potential for expansion all contribute to the notion that granting an extension would be in the best interest of the economy and consumers.

Of course, any f ranc hise renewal must come w it h robust oversight and consumer protect ion. But on balance, t he ev idence suggests t hat extend ing Meralco’s f ranc hise wou ld be an econom ic boon for t he count r y. Rel iable elect ric ity is a cor nerstone of susta ined g rowt h, and Meralco has demonst rated its abi l ity to del iver on t hat f ront. Lawmakers shou ld seriously consider t his proposal as pa r t of t he count r y’s broader econom ic development st rategy.

Winning negotiations

IJohn Mangun

OUTSIDE THE BOX

F you want to be successful, you must learn one particular skill. You need to be a winning negotiator whether it is for love, power, or money. You must be able to mentally put yourself on the “other side of the table” and see through the eyes and mind of the other side even if it is not an adversarial relationship.

Being able to sit on the other side means that you can see what you look like and hear properly what you are saying. Looking at yourself also gives you the understanding of what the other person is thinking about what you are saying.

It is difficult to self-evaluate because we tend to overestimate our abi l it ies and u nderest i mate our strengths.

By putting yourself in the mind of the other person, you can—with practice—come to some conclusions about what his or her strengths/ weaknesses are and more importantly, what their motivations and desires might be.

If a person is being aggressive with you, think about why you would be aggressive with you based on what you are doing and say ing in the meeting. Human nature—actions and attitudes are generally universal. Would you be aggressive with you because you are acting weak, or because you appear secretive and not honest?

The most important reason for this mental exercise of being in the

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other person’s “mind” is the persistent problem of what experts call “mirror imaging.” It is an analytic flaw in which we assume that the other’s beliefs and preferences are shared or at least similar to our own.

W hen I used to manage marketing groups, a session would always be devoted to having the sales force write down a list of ever ything that was wrong with the product. In order to be successful, a salesperson cannot ignore the downside and weaknesses of what they are selling. The customer will always find them, and the salesperson must sit on the other side of the table first.

No better example of this “mirror imaging” flaw than the one found in international relations.

The US could not believe that the Philippines would reject the money to rent” the bases. They never understood that the Philippine priority at that time was national sovereign pride. Likewise, the Filipino negotiators never understood that the US would give up the bases rather than be required to treat the Philippines as an equal, a partner

In 2014, the US-backed coup d’état in Ukraine deposed a duly elected leader. Three months later, Putin annexed Crimea from Ukraine and made it part of the Russian Federation. In 2021, NATO began formal processes to admit Ukraine as a member. In February 2022, Russia began its “special military operation.”

Neither side could see the situation from the other’s viewpoint. We see that now with regards to Russia.

The idea that Russia wants to conquer Europe is a lie told by certain national leaders and is believed by fools. Look at a map of the Russian empire in 1533 It is virtually the same territor y as during the USSR and again today in 2024. The major change is that Russia conquered Finland in the 1808–1809 war with Sweden. During the Swedish period, Finland was merely a group of provinces and not a national entity. The Karelia region remained part of the USSR. But after the breakup of the Soviet Union, the Karelian question somewhat re-surfaced in Finland. Russian president Boris Yeltsin unofficially offered to “sell” ceded Karelia to Finland in 1991 but that was declined by Finland. Had the USSR wanted to expand, it would have annexed all of Eastern Europe after World War Two.

The “mirror imaging” flaw is apparent today in the US intelligence analysis of Vladimir Putin. Moscow was burned to the ground during the Mongol invasion of Russia. Both Napoleon and Hitler marched unsuccessfully on Moscow. In 2008,

signals Malaysia isn’t in a

By Anisah Shukry and Kok Leong Chan

ALAYSIAN Prime Minister Anwar Ibrahim signaled that he sees no urgency in reducing fuel subsidies, a move that according to him would strain consumers and spur inflation—even though it’s a reform closely watched by investors.

concede that things

ciously,”

sion’s

Amin at the Qatar Economic Forum on Tuesday. “Because in no way will I punish the masses.” Malaysia’s fuel prices are among the cheapest in the world because of state support. W hen asked if the nation would cut such subsidies this year—as his government had earlier indicated—Anwar said it would

pledged to improve Malaysia’s fiscal position and reduce government debt from the current level of over 60 percent of gross domestic product, reaffirmed his commitment to cut wasteful spending and plug leakages while balancing the need to keep Malaysians satisfied. W hile the subsidy reforms will boost the countr y’s allure to investors, such a move risks further denting Anwar’s popularity that has diminished since he came to power in late 2022. The countr y’s economic growth cooled to 3.7 percent last year after posting the fastest expansion

in two decades in 2022.

The government stands to save 5 billion ringgit ($1 billion) annually after reducing support to electricity and poultr y consumers, Anwar said.

“Now, we have to consider diesel as there are too many leakages,” he said.

Malaysia currently absorbs much of the price of fuel and cook ing oil for its population, a move that was estimated to cost 81 billion ringg it last year T he gover nment has sought to replace the broad subsidies w ith targeted assistance this year to help narrow the 2024 budget deficit to 4.3 percent of GDP from 5 percent in 2023 W hen Anwar took power, the fiscal gap was at 5.6 percent and debt stood at 1.5 trillion ringg it, according to the premier Even as details on the long-awaited roll back of hefty subsidies remain scarce, the central bank anticipates that inflation, which had been be-

President Bush said that Ukraine and Georgia should join Nato. A few months later, Putin invaded Georgia, annexed part of its territor y and destroyed Georgia’s chances of joining Nato.

In 2014, t he US-backed coup d’état in Ukraine deposed a duly elected leader T hree months later Putin annexed Crimea from Ukraine and made it part of the Russian Federation. In 2021, Nato began for mal processes to admit Ukraine as a member In Februar y 2022, Russia began its “special militar y operation.”

In ever y case, US analysts did not believe Putin would take the steps he did because they did not see the situation from Russia’s view of wanting to secure from any invasion either from the west or the south We may bel ieve t hat national leaders want economic growth, but Communist Chinese leaders elevate the party over all other considerations including the well-being of the people. X i Jinping will do whatever is necessar y to show the strength of the Chinese Communist Party. November 16, 2023: “After the meeting (with X i Jinping), Biden described the discussions as “candid” and “straight for ward.” At a press conference, however Biden referred to Xi as a dictator, saying “ he’s a dictator in the sense that he is a guy who runs a countr y that is a communist countr y.” Did President Biden make X i look stronger in the eyes of his people and party?

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.

low 2 percent since September, may average as much as 3.5 percent this year on the potential impact of the subsidy reforms.

“How do we then proceed to undertake this reform without punishing the poor?” Anwar said. “That, to my mind, is ver y central.”

Analysts at Citigroup Inc. expect a “meaningful rise” in the risk of an interest-rate hike later this year should Malaysia begin cutting fuel prices in July.

Malaysia’s central bank last adjusted borrowing costs a year ago, placing it at a record differential to the Federal Reser ve. That’s weighed on the ringgit, which dipped to a 26-year-low in Februar y. T he gover nment of t he State of Qatar is the under writer of Qatar Economic Forum, Powered by Bloomberg. With assistance from Ram Anand /Bloomberg

China vows ‘resolute measures’ after Biden’s new tariffs

CHINA blasted the Biden administration’s move to increase US tariffs on a wide range of Chinese imports, vowing to take its own action, without giving specifics.

“China will take resolute measures to safeguard its own rights and interests,” the Ministry of Commerce said in a statement Tuesday. “The US should immediately correct its wrong actions and cancel the additional tariff measures against China.”

President Joe Biden is hiking tariffs on imports from China including semiconductors, solar cells, and critical minerals, with rates ranging from 25 percent for batteries to 100 percent for electric vehicles. The announcement was the culmination of a review of predecessor Donald Trump’s tariff increases—none of which were rolled back.

China called the additional tariffs “political manipulation,” with the move coming ahead of US elections this year

In response to Trump’s tariff hikes from 2018 onwards, Beijing often attempted a tit-for-tat approach—trying to match the size and scope of US measures. But analysts expect a more limited response this time.

“Be iji ng’s d ir ect r etal i at i on against the US will avoid sharp escalation,” predicted Michael Hirson, a former US Treasur y official who now heads China analysis at 22V Research “Actions t hat lash out at prominent US firms or ramp up supply-chain restrictions, such as limiting exports of critical minerals, would hurt X i ’s efforts to shore up domestic and international confidence in China.”

President X i Jinping in recent months has led efforts to bolster waning foreign investment in China. Hirson added that “China’s leadership will also seek to avoid actions that make China the center of the US presidential campaign.”

In a briefing on Tuesday after-

noon, C hi nese Embassy spokesman Liu Pengyu said accusations of Chinese overcapacity were a “false narrative” aimed at hindering the countr y’s economy. He praised China’s manufacturing sector as simply more competitive, innovative and efficient.

“We want to tell our US colleagues t hat blaming ot hers won’t make yourself more competitive,” Liu told reporters. “Stop using overcapacity as an excuse for trade protectionism. Stop politicizing economic and trade issues.”

US measures announced Tuesday are themselves limited—which may help to contain Beijing’s response, according to Tobin Marcus and Chutong Zhu at Wolfe Research in New York. Biden’s tariff hikes only amount to an 8 percent increase in “total exposed import volume” from China, and the phase-in periods “will mitigate impact,” they wrote in a note.

“We expect there will be some Chinese response, but that Beijing will aim for proportionality, which means the US fallout should be limited,” Marcus and Zhu wrote. Biden is tr ying to balance looking tough on China and vowing to protect US jobs without destabilizing the domestic economy or inflaming inflation.

Last month he vowed 25 percent tariffs on Chinese steel and aluminum that were largely toothless, as the Asian nation sells little of either metal to America.

For her part, Treasur y Secretar y Janet Yellen on Monday said, ahead of the tariff announcement, that hopefully we will not see a significant Chinese response—but that’s always a possibility.” With assistance from Iain Marlow /Bloomberg

Biden accuses China of ‘cheating’ on trade, imposes new tariffs

By Josh Wingrove

PRESIDENT Joe Biden unveiled sweeping tariff hikes on a range of Chinese imports, in an election-year bid to bolster domestic manufacturing in critical industries.

The US president cast the move

as a necessar y action to protect US workers and businesses from companies that he accused of stealing, cheating and dumping underpriced goods into international markets.

Biden is raising levies on semiconductors, batteries, solar cells, and critical minerals, in addition to previously reported increases on steel, alu m i nu m and elect ric vehicles.

The changes are projected to affect around $18 billion in current annual imports, the W hite House said.

“W hen you make tactics like this, you re not competing, it’s not competition, it’s cheating. And we’ve seen damage here in America,” Biden said Tuesday at a W hite House Rose Garden event.

The moves represent Biden’s most comprehensive update to China tariffs first imposed by his predecessor for mer President Donald Trump, and a recognition that a hawkish approach to trade with Beijing remains popular with US voters. None of Trump’s tariffs will be reduced. Biden will ratchet up rates on goods the US struggled to import during the coronavirus pandemic, and for industries, like chips and green energy, that he’s sought to bolster since he took office.

“T he Chinese gover nment has poured state money into Chinese compan ies,” B iden sa id. “C hi na heavily subsidized all these products, pushing Chinese companies to produce far more than the world can absorb and then dumping excess products on the market at unfairly low prices.”

Biden must strike a careful balance. Additional tariffs risk increasing prices for consumers already

hurting from inflation, and inspiring the ire of China.

Biden insisted he did not want conflict with China, just “fair competition.” He looked to assuage concerns for US consumers, saying his tariff regime wouldn’t restrict the ability of the public to buy the vehicles they want. And he argued his approach was preferable to Trump’s call for across-the-board tariffs on China, which Biden said would drive up costs for American families by $1,500.

Biden’s changes are staggered to take effect from 2024 to 2026, and are more targeted than the 60 percent flat tariff Trump has proposed. The biggest jump is for EVs, with the tariff rate quadrupling, while other imports are seeing levies doubled or imposed for the first time. In some cases, the levies apply to areas where China has only a small segment of the US market, but are intended to head off a potential deluge of imports.

Trump, speaking to reporters before entering his criminal trial at a Manhattan courthouse, said Biden needed to expand the additional tariffs to include other products, including conventional cars.

“China is eating our lunch right now and they went away from what I was doing,” Trump said, adding that Biden had been “playing games” with Beijing.

Asked about the lunch comment Tuesday, Biden said Trump had been “feeding them for a long time.”

“It’s a smart approach,” Biden said. “Compare that to what the prior administration did.”

China blasted the move, urging the US to cancel the new tariffs in a statement from Beijing’s Ministr y of

Russia’s seaborne crude exports plunge to a two-month low

By Julian Lee

RUSSIA’S crude flows dropped to an eight-week low in the seven days to May 12, with fewer vessels leaving the major ports of Primorsk and Ust-Luga on the Baltic coast and from Murmansk on the Arctic. The four-week average also fell, dropping by the most in 10 weeks.

Shipments from the Baltic terminals, which were in line with a partial loading program for May seen by Bloomberg, may reflect deeper output cuts promised by Moscow to its partners in the Opec+ group of oil producers.

Weekly shipments were about 270,000 barrels a day below a target for this month that’s part of the Opec+ alliance’s broader effort to curb supplies and support prices. The four-week average was about 10,000 barrels a day below target.

The Kremlin also agreed to make deeper cuts to oil production, trimming volumes to about 9.1 million barrels a day from April. Output was cut by about 150,000 barrels a day last month, according to figures published by the Organization of Petroleum Exporting Countries. Moscow still missed its goal though, pumping about 319,000 barrels a day more than agreed, according to Bloomberg calculations based on official Russian data.

Lower export volumes, together with a week-on-week decline in oil prices in the period to May 12, hit the value of Russia’s exports. The four-week average value of overseas shipments fell by the most since No-

vember

T he f irst sanct ioned Ru ssi an tanker to load crude after being listed is now crossing the Indian Ocean. The SCF Primor ye, cited by the US in October for  breaching a Group of Seven price cap, loaded Urals at Novorossiysk on the Black Sea in late April and is now showing a destination of Singapore. It is most

likely en route for China, whose ports have been more willing than those elsewhere to handle vessels owned by sanctioned entities.

If it is able to discharge its cargo without difficulty, it could pave the way for other sanctioned tankers owned by state controlled Sovcomflot PJSC to return to work. Until now, no other sanctioned Sovcomflot tanker has loaded a cargo.

T he company has renamed and reflagged at least 10 of its 21 ships t hat have been listed by t he US Treasur y Department for breaching the price cap, perhaps w ith the intention of distancing them from the sanctions.

Separately, the Yasa Golden Bosphorus, which was removed from the sanctions list last month has loaded a cargo of US crude at Houston.

Crude shipments A TOTAL of 3 0 tanker s loaded 22.69 m i ll ion ba rrels of Ru ssi an c rude i n t he week to May 12, vessel-t rack i ng data and por t agent repor ts show. T h at was down by about 3.05 m i ll ion ba rrels f rom t he prev iou s week.

Russia’s seabor ne crude flows in the week to May 12 fell by about 440,000 barrels a day to 3.24 million, their lowest in eight weeks, from 3.68 million for the week to May 5. The less volatile four-week average was down by about 180,000 barrels a day at 3.48 million.

The drop was driven by fewer shipments from the Baltic ports of Primorsk and Ust-Luga and through the port of Murmansk on the Arctic.

Baltic shipments are running in line with a partial loading program seen by Bloomberg, which shows a drop in Urals flows from their April level.

Crude shipments so far this year are running about 30,000 barrels a day below the average for 2023

Russia said it would cut crude exports during April by 121,000 barrels a day from their average May-June level, while May shipments would be 71,000 barrels a day below the same starting point. Moscow is shifting more of the burden of its commitment to Opec+ onto production targets, which are preferred by other members of the g roup. Seabor ne shipments in the first three months of the year exceeded Russia’s target level for that period by just 16,000 barrels a day.

One cargo of Kazakhstan’s KEBCO was loaded at Ust-Luga and one at Novorossiysk during the week.

Flows by destination

Asia

Obser ved shipments to Russia’s Asian customers, including those showing no final destination, fell to a five-week low of 3.08 million barrels a day in the four weeks to May 12, from 3.29 million in the previous four-week period.

About 1.11 million barrels a day of crude was loaded onto tankers heading to China. The Asian nation’s seaborne imports are boosted by about 800,000 barrels a day of crude delivered from Russia by pipeline, either directly, or via Kazakhstan.

Flows on ships signaling destinations in India averaged about 1.52 million barrels a day.

Both the Chinese and Indian figures are likely to rise as the discharge ports become clear for  vessels that are not currently showing final destinations.

The equivalent of about 340,000 barrels a day was on vessels signaling Port Said or Suez in Egypt. Those

Biden is raising levies on semiconductors, batteries, solar cells, and critical minerals, in addition to previously reported increases on steel, aluminum and electric vehicles. The changes are projected to affect around $18 billion in current annual imports, the White House said.

Commerce. It vowed to take “resolute measures to safeguard its own rights and interests” but without providing specifics.

Targeted industries

THE ta riff rate on sem iconductors doubles f rom 25 percent to 50 percent by 2025, targeting an industr y Biden has made a center piece of his manufacturing agenda through bill ions in subsid ies to bolster US product ion. T he lev ies a im to counter C hina’s rush into so-called legacy c hi ps, olde r -gene r at ion components st i ll essent ial to t he global economy.

Certain critical minerals will see a new 25 percent tariff this year, while nat ural g raphite and per manent magnets will be hit with that rate in 2026. Ship-to-shore cranes also face a new 25 percent tariff this year

The electric vehicle tariff takes effect this year with a final tariff rate of 102.5 percent, up from 27.5 percent now. And tariffs on certain steel and aluminum from China— currently facing a 0 percent or 7.5 percent tariff—will rise to 25 percent this year

Biden’s tariffs will make it easier for the European Union to move to impose import duties on Chinese EVs, according to an analysis from Wolfe Research released Tuesday. Tariffs on lithium-ion batteries for electric vehicles, as well as battery parts, will rise to 25 percent from 7.5 percent this year, while non-EV lithium-ion batteries make the same

voyages typically end at ports in India or China and show up as “Unknown Asia” until a final destination becomes apparent.

T he “Ot her Unknown” volumes, running at about 80,000 ba rrels a day in t he four weeks to May 12, a re t hose on tankers show ing no clea r dest inat ion. Most orig inate f rom Russia’s wester n por ts and go on to t ransit t he Suez Canal, but some could end up in Turkey. Others may be moved f rom one vessel to anot her w it h most suc h t ransfers now tak ing place in t he Med iterranean, or more recently off Soha r in Oman.

Europe and Turkey

Russia’s seaborne crude exports to European countries have ceased, with flows to Bulgaria halted at the end of last year Moscow also lost about 500,000 barrels a day of pipeline exports to Poland and Germany at the start of 2023 when those countries stopped purchases.

Turkey is now the only short-haul market for shipments from Russia’s western ports, with flows in the 28 days to May 12 rising to a six-week high of 396,000 barrels a day.

Export value

The gross value of Russia’s crude exports fell to $1.6 billion in the seven days to May 12 from about $1.85 billion in the period to May 5. Four-week average income was also down, dropping by about $140 million to $1.79 billion a week. The four-week average peak of $2.17 billion a week was reached in the period to June 19, 2022.

A drop in the amount exported and lower prices week on week combined to drive oil revenues to an eight-week low. Four-week average export value saw its biggest decline since November With assistance from Selcuk Gokoluk, Maria Elena Vizcaino and Zijia Song /Bloomberg

jump in 2026.

Although tariffs on solar cells and modules from China will double, Biden is creating a process that could lead to exclusions for key machiner y used to manufacture solar components, a move seen as helping nurture a domestic supply chain for the industr y.

The US will also impose a new 50 percent tariff on Chinese syringes and needles this year, while tariffs on personal protective equipment, such as respirators and face masks, rise to 25 percent from either 0 percent or 7.5 percent now. Tariffs on rubber medical and surgical gloves will jump to 25 percent from 7.5 percent in 2026.

It’s unclear whether the moves w ill trigger retaliator y tariffs by China, but the tariff regime proposed under Trump already applies to about $226 billion worth of goods, according to an administration estimate, based on 2023 data.

“Hopefully we will not see a sign i f icant C hi nese response—but that’s always a possibility,” Treasur y Secretar y Janet Yellen said in an inter view with Bloomberg Television on Monday.

Tuesday’s announcement is the culmination of a mandator y review of Trump’s tariffs that stretched for over a year under the shadow cast by the upcoming election. Both candidates have sought to portray themselves as tough on Beijing with Trump pledg ing across-the-board tariffs on China.

Biden’s changes do not include any offsetting reductions. An official who briefed reporters ahead of the announcement on condition of anonymity said the US had not seen improvements in many unfair Chinese trade practices, such as forced technology transfers, since the tariffs were first imposed, making reductions unwarranted. With assistance from Annmarie Hordern, Gregory Korte and Jennifer A. Dlouhy /Bloomberg

BBy Vinícius Andrade & Carolina Wilson

UYING debt sold by the lowestrated countries scares off most investors. On emerging markets desks across the globe though that type of risky wager is being dubbed “special situations”—and its popularity is growing.

The strategy has been gaining traction across Wall Street, helping a handful of money managers beat the returns across traditional emerging-market investing. Vontobel Asset Management and Abrdn Plc., whose flagship EM hard-currency f unds have beaten at least 89 percent of peers over the past year are among those who’ve benefited from the trade.

Those bets have flourished in the past year as nations including Nigeria and Pakistan push through economic measures or strike funding agreements with multilateral lenders. Buying bonds from those countries has become so popular that fund managers identified “EM special situations” as the strategy they’re most interested in pursuing, according to a JPMorgan Chase & Co. sur vey in April of more than 300 investors. “It’s hard to find someone that isn’t already involved or not doing their homework” in frontier local bonds, said Patrick Esteruelas, the global head of research at hedge fund EMSO Asset Management in Miami “That’s the new flavor of the month.”

Some of the money managers have plowed into bonds l i kes t hose f rom Argentina, a serial defaulter and Sri Lanka and Ukraine, both of which are restructuring their debt. The top five per for mers i n a broad-based gauge tracking sovereign, emerging-market dollar notes—all of which are “specialsituations” trades—averaged a 97 percent return over the past year, versus a 13 percent gain for the index, according to data compiled by Bloomberg.

W hile “special situations” in the US bond world usually refers to companies involved in hostile takeovers, patent litigation and other conditions that make creditworthiness particularly tricky to assess, in emerging markets it’s being used somewhat differently. The focus here is on sovereign debt—increasingly in local currency—from countries that are adopting orthodox economic policies or seeking to refinance their obligations.

W hile it’s a bet that can easily backfire if, say, the market dries up for debt from a struggling frontier nation or a restructuring stalls, the bonds of countries on the edge are less risky than they were even a year ago, according to Vontobel’s Carlos de Sousa. A worst-case, domino effect never came to pass.

RESILIENT, SAFER SCHOOLS

By Samuel P. Medenilla @sam_medenilla

OVER 700,00 st udents f r om calam ity-damaged sc h ools are expected to benef it f rom t he P30.56-bi ll ion Inf rastruct ure for Safer and Resi l ient Sc hools (ISRS) Project, whic h was approved by t he Nat ional Econom ic and Development Aut hority (Neda) Board.

T he Board led by President Ferd inand R. Marcos Jr made the decision during its meeting in Malacañang last Wednesday.

“T he project a ims to bui ld classrooms t hat w i ll be better in case of f ut ure hazard events in order to ensure f unct ional cont inuity of t he educat ional system and reduce d isruptions in lear ning,” t he President ial Communications Off ice (PCO) Secretar y Cheloy V. Garafil said in a press statement.

T he bu lk or P27.50 bi ll ion of t he ISRS f unds w i ll come f rom t he off icial development assi stance (ODA) loan f rom t he World Bank-Inter nat ional Bank for Reconst ruct ion and Development, whi le t he rema ining P3.06 bi ll ion w i ll come f rom t he nat ional gover nment.

Unde r t h e p r o j ect, t h e Depa r tment of Ed u cat i on (DepEd) and Depa r tment of Publ ic Works and Highways (DPWH) w i ll oversee t he re-

pa ir, reh abi l itat ion, ret rof itt i ng, and reconst ruct ion of sc hool faci l it ies f rom 2025 to 2029.

It w i ll cover 1,282 sc hools, 4,756 sc hool bui ld ings, 13,101 classrooms, whic h were damaged by various d isasters between 2019 and 2023

Of t he ISRS budget, P19.81 bi ll ion w i ll be u sed for Relat i vely Complex Wo r ks fo r Sc h ool Inf r ast ru ct ur e Recove r y and P 9.65 bi ll ion w i ll be allocated fo r Relat i vely Si mple Works for Sc hool Inf r ast ru ct ur e Recove r y and Operat ions and Ma i ntenance.

It also allotted P1.1 bi ll ion for Project Management, Monitoring, and Evaluat ion w it h a P1.1-bi ll ion budget allocat ion. Once completed, t he i n it iat ive is expected to prov ide 741,038 students a safer lear ning env ironment.

Excess tariff take from RTL for Congress earmarking

By Jovee Marie N. dela Cruz @joveemarie

THE House of Representatives on Wednesday reconsidered the second-reading approval of House Bill (HB) 10381 amending the Rice Tariffication Law (RTL) in order to reinstate a previously deleted amendment. Fujifilm

eyes PHL, others as potential new plant sites for multifunction printers

By VG Cabuag @villygc

JA PAN’S mu lt if unct ion print-

e r man u fact ur e r F uji f i lm

Bu s i ness Innovat ion Cor p. (FB) i s look i ng for a new site for its plant as t he company wants to c ut its ri sk i n t he cou nt ries t h at it i s c urrently i n.

Naok i Hama, president and CEO of Fuji f i lm Bu si ness Innovat ion Cor p., sa id it currently has mu lt if unct ion printer assembly plants in China and Vietnam, and it also produces print ing-related materials and par ts in its home countr y in Japan.

“Fo r t h e p r od u ct i on i n Japan, as of now t h e amo u nt i s not t h at b i g. So Japan can cate r to t h at. B ut fo r t h e MF P, t h e mu lt i f u nct i on p ri nte r t h at one we need to look [fo r an] add it i onal locat i on,”Hama told t h e B usiness M irror i n an i nte r v i ew. “Well as you know, c urrently, C hi na h as a lot of oppos it ion and problems t h at a re h appen i ng right now. And w it h s uc h h av i ng t he manu fact uri ng i n C hi na i s quite ri sky. B ut t h at doesn’t mean we w i ll foc u s eve r yt hi ng i n V ietnam. We need to h ave ot he r locat ions as an opt ion as well,” he sa id. Hama, who v isited t he countr y, sa id Ind i a, t he Phi l ippi nes and Vietnam have t he “ huge possibi l ity and potential” for t he sites t hat t he company is look ing for

T he site, he sa id, shou ld have t he right people as t he company also need IT professionals t hat w i ll work in t he new plants.

“T here is a high demand for IT professionals, IT developers. it is also our c hallenge where we can act ually f ind t hat k ind of people,” he sa id. T he company’s operations in the Phi lippines, which w i ll celebrate its 60t h year anniversar y next year, is

more on sales and market ing of its products.

“T he population growth is stable and also t he GDP [ g ross domestic product] g rowt h is ver y strong and stable as well. So w it h regards to t he potential, I really see a ver y high potent ial here. We need to do t hings properly and make sure these solutions reach our customers and be prov ided properly. So t hat is basically our d irect ion and what I foresee for Phi l ippines,” he sa id.

T he company last mont h signed a memorandum of understand ing w it h Konica Minolta Inc. to beg in a feasibi l ity st udy for a strateg ic alliance in t he mu ltif unction printer, office printer and production printer segments.

Hama said after its breakup w ith

Xerox Cor p., it is left w it h just one toner plant in Japan in Toyama.

“So to avoid risk of being struck by [d isaster in] one locat ion, for t hat we needed mu lt iple locat ions.

Konica Minolta has two sites in Japan. Two sites of manufacturing for toners in Japan.

It’s not fully utilized; basically they still have an allowance for their operation there so maybe there is a possibility of us utilizing for their manufacturing of toner there,” he said.

He sa id t he re’s not hi ng conc rete yet i n ter ms of f ur t heri ng its pa r tnership w it h Kon ica M i nolta, as t he company i s st i ll u nde r goi ng c h anges, s uc h as reduct ion of workforce due to its rest ruct uri ng.

“T here are t hings t hat t hey need to do to f i x t hings. After t hey f i x it, t hen we go into f ur t her negotiation d iscussion of what can we par tner for,” he sa id.

“We don’t l i m it it to only to t hi s pa r tne r s hi p, as long as it i s go i ng to

T

T

as follows: 53.5 percent for far m mec hani zat ion, 29.7 percent for seed components, 3 3 percent for training, 6 percent for rice credit assistance, 4 percent for soi l management, 2 percent for pest management, and 1.5 percent for t he R ice Industr y Development Project Management Off ice (PMO).

House Committee on Ag ricu lt ure and Food Cha ir man Mi kaela

Angela Suansing, one of t he bi ll’s aut hors, sa id an average of P29 bi ll ion annually f rom tariff revenues is expected.

Meanwhile, leaders of the House of Representat ives on Wednesday called on t he Senate to take sw ift action on proposed amendments to RTL, a imed at easing t he burden on Fi l ipinos struggl ing w it h high rice prices.

In a press conference, Deputy Speaker Dav id Su a rez expressed hope t h at t he Senate wou ld act promptly on t he RTL amendment bi ll, whic h includes prov isions to stabi l i ze rice prices and ensure t he v iabi l ity of t he local rice industr y. With rice prices steadily increasing, Suarez emphasized the need for gover nment inter vent ion to curb excessive hi kes.

“Without gover nment inter vent ion, t here w i ll be no reg u lator y f unct ion or balancing act iv ity to counteract traders and impor ters of rice,” Suarez sa id, emphasi zing t he gover nment’s crucial role in

ma inta ining market stabi l ity.

T he House is expected to approve t he bi ll on t hird read ing before adjour ning next week.

Some senator s h ave opposed t he bi ll due to concer ns about t he prov ision stat ing NFA rega in ing aut hority to sell and impor t rice, cit ing past corrupt ion allegat ions.

Food security, not corruption WHILE acknowledg i ng concer ns about corrupt ion w it hin t he NFA, Suarez urged senators not to lose s i g ht of t he p ri ma r y ob j ect i ve, whic h i s ensuri ng food sec urity and affordable rice prices for all Fi l ipinos.

“I totally understand where t he senators are coming from, given the recent reputation of certain NFA off icials, but let’s not forget this is not an issue of corrupt ion but rat her an issue of food security and t he price of rice,” Suarez pointed out. Further addressing allegations of corruption and anomalies within the NFA, Suarez expressed confidence in the gover nment’s ability to investigate and prosecute w rongdoings.

“Regard ing corrupt ion and alleged anomal ies w it hin t he NFA, I’m sure t he proper gover nment agencies can invest igate and prosecute t hose responsible. Cong ress can also use its oversight f unct ions to add ress t hese issues,” he sa id. In t he same press conference, House Deputy Majority Leader Rep.

Jude Acidre underscored the urgent need for Senate collaborat ion to add ress t he pressing issue of rising rice prices, whic h cont inues to burden Fi l ipino households.

“We often hear f rom our f riends in t he Senate

act ion in all DA operat ing units, includ ing t he appl icat ion of d ig ital tec hnology in coord inat ion w it h t he Field Prog rams Operat ional Planning Div ision of t he Field Operat ion Ser

MARCOS JR.

Editor: Jennifer A. Ng

SBy Lenie Lectura @llectura

HELL Pilipinas Corp. (SPC) posted a net income of P1.4 billion in the first quarter, a reversal of the P300-million net loss it incurred in the same period a year ago.

T

“We are making strategic choices to strengthen our market position, boost business resilience, and drive financial strength We will ever yday and w in together w ith our motivated workforce, business partners, and the best retailer network in the

country,” said SPC President and CEO Lorelie Quiambao-Osial. SPC, she added, continues to focus and deliver on its cash generation initiatives amidst high-interest rate environment. This strategic approach reflects the company’s commitment to prudent financial management and maintaining a strong balance sheet.

Shell gas stations are now transforming into one-stop mobility destinations designed to meet the diverse needs of its clientele.

“As we evolve in an increasingly competitive industr y, Shell Pilipi-

nas remains steadfast in delivering value to our shareholders fueled by our refreshed strategy, strong focus on performance, and disciplined deliver y,” Osial said.

T he company pursued focused growth in mobility with the opening of 10 new sites in strategic areas, further increasing its network efficiency nationwide and maximizing value for customers.

Maintaining its vital role in the company’s strategic direction, nonf uel retail sustained double-dig it growth reaching 17 percent. This was driven by food and beverage expansion initiatives and an everincreasing locator business.

Destination electric vehicle (EV) c h a r ge r s, i nt roduced t hrou

h a st rateg ic collaborat ion w it

Or t igas Land Cor porat ion (OLC), ma rk a significant milestone in SPC’s sustainability jour ney. T his innovative initiative entai ls the installation of EV c ha rgers w it hin OLC’s malls, w it h Estanc ia Mall and Green hi lls al ready in operat ion. T his move

is al igned w it h Shell and OLC’s joint comm itment to c urbing ca rbon em issions and d riv ing energy t ransit ion.

In the commercial sector, SPC embarked on strategic initiatives to expand its clientele base, resulting in the acquisition of new customers across various industries.

The company has earmarked as much as P3 billion for its capital expenditures (capex) this year to support its expansion plans.

“For this year, we are planning to spend between P2 billion and P3 billion,” said company vice president for finance and chief risk officer Reynaldo Abilo during the company’s virtual annual meeting.

“About 50 percent of that will be dedicated in improving the asset integrity and efficiency of our terminals across the countr y, particularly our main one which is the Tabangao import facility, and about 50 percent will be dedicated towards in enhancing the mobility footprint we have in the countr y.”

AbaCore swings to net loss in Q1

ABy VG Cabuag @villygc

BACORE Capital Holdings Inc. (ABA) said it posted a net loss of P15.3 million, a reversal of the previous year’s P309.5million income, primarily due to a delay in recognizing gains.

The company said its net income last year was due to a gain of P249.96 million from the sale of investment property and a gain of P75.75 million from its investment in a subsidiar y. ABA did not have these one-time items for the first quarter

“ABA’s financial results for the

first quarter were primarily impacted by factors outside of the company’s control. However, we continue to be optimistic about its outlook for 2024 and beyond,” Antonio Victoriano F. Gregorio III, the company’s vice chairman, said.

“Within the next 12 to 18 months, the Montemaria Shrine will see various developments such as the Miracle Walk, a water park, and a view deck being opened within the area. These developments are envisioned to turn the shrine as a lifestyle destination for Filipinos, which in turn will diversify ABA’s revenue and recurring income streams.”

During the first quarter the company was involved in the sale of 42 hectares of Batangas-based properties in San Salvador, Lipa and Mataas na Kahoy; Tanguay, Lipa and Loob, Mataas na Kahoy.

“However, t he buyers of t hese proper t ies were complet ing tasks related to t he acquisit ion by t he end of t he f irst qu a r ter—t hus ABA was unable to record t he ga ins of P176.86 m i ll ion i n its f i nanc i al resu lts.”

The company has interests in the leasing of gaming equipment, gold and coal mining, real estate and financial ser vices.

Ayala unit opens cold storage facility in Batangas

AYALALAND Logistics Holdi ngs Cor p. (ALLHC) h as opened its latest cold storage facility under its Alogis Artico brand in Sto. Tomas, Batangas. The company said ALogis Artico Santo Tomas is the first cold storage facility built from the ground up, distinguishing it from ALLHC’s previous acquisitions. Adding 5,000 pallet positions to ALLHC’s existing cold storage portfolio, ALogis Artico Santo Tomas now bolsters the company’s capability to 15,300 pallet positions across four facilities, the company said.

It is equipped with 16 cold rooms feat uri ng tempe r at ures r ang i ng from 5 degrees Celsius to -25 degrees Celsius and is powered by renewable energy. Strategically positioned w ithin the Light Industr y and Science Park III in Sto. Tomas, Batangas, ALogis Artico Santo Tomas addresses the surging demand for cold storage solutions in the South Luzon region. Its proximity to Manila via the South Luzon Expressway and the Southern Tagalog Arterial Road ensures accessibility, while the Batangas Port being just an hour’s drive away ensures efficient transportation of goods.

“We also aim to help address issues of food safety and security, and to support the country’s growing cold chain sector and its supply chain logistics. Moreover we look for ward to our latest development further

energizing the city of Santo Tomas, and the whole of Batangas,” Robert S. Lao, the company’s president and CEO, said. To ensure adherence to regulatory standards, the facility will be registered with key authorities including the Board of Investments, National Meat Inspection Ser vice, Bureau of Fisheries and Aquatic Resources and Bureau of

Industr y. Catering to clients from

seafood, chemical industries, among others, ALogis Artico Santo Tomas is poised to become a key asset in the supply chain ecosystem, according to ALLHC. “Usi ng t he st rengt h of Ayala Land’s strategically located landbank and financial stability, we aim to be a major player in the cold storage space. As a relatively new player in the market, our intention is to achieve consistent double-digit growth for this business line in the next five years,” said Anna Ma. Margarita B. Dy, president and CEO of Ayala Land Inc. and chairman of ALLHC. “T he team has high aspirat ions on what we can do to be a major player in t he indust r y, and in t he process, contribute to the countr y’s goals of food security, and hopef u lly, also to bring down food prices as we improve d istribut ion all a round t he count r y.” VG Cabuag

GLOBE Telecom Inc. believes that the Philippines should concentrate on building its 5G infrastructure before anticipating the arrival of 6G technology.

Da rius Delgado, Globe SV P, sa id during a media briefing on Wednesday t hat t he count r y shou ld foc us on max im i zing 5G, g iven t he c urrent slow adoption rate, rather than rushing towa rds t he next generat ion of w ireless tec hnology.

“We expect 6G w ireless tec hnology to become ava i lable a rou nd t he yea r 20 3 0,” sa id Delgado. “B ut we as a cou nt r y st i ll need to foc u s on how to max i m i ze t he c urrent tec h nology, w hic h i s 5G, g i ven t he slow adopt ion of t hi s tec h nology today.” Delgado said that while it is crucial to stay infor med about new technological advancements, Globe is cautiously evaluating 6G with its partners.

The evaluation centers on two key aspects: the potential benefits that 6G could offer customers and the integration of this technology into Globe’s existing network w ithout causing disruptions.

“We need to understand how this new technology could improve the products and ser vices that we provide our customers .We need to understand the best way to integrate 6G in our network today,” Delgado said.

Last week, Japan unveiled the world’s first 6G device, which promises to deliver up to 20x faster speed than 5G.

Currently, Globe is foc used on expand ing and en hanc ing its 5G network to meet t he demands of t he Fi l ipino ma rket. T he company bel ieves t hat a robust 5G inf rast ruct ure w i ll prov ide signif icant improvements in speed, capac ity, and rel iabi l ity for its users, sett ing a sol id foundat ion for f ut ure tec hnolog ical advancements.

In the first quarter of 2024, Globe deployed 27 new 5G sites across the Philippines, increasing its 5G outdoor coverage to 98.35 percent of the National Capital Region and 92.86 percent of key cities in Visayas and Mindanao for the first three months of the year

Globe also logged over 6 million devices in its 5G network in March 2024. In addition, Globe expanded its 5G partnerships with 167 global partners in 87 destinations.

The Ayala-led telco recorded a net income of P6.8 billion in the first three months of the year, a 7-percent decline from the P7.3 billion reported the year prior

However, exclud i ng one-t i me gains from the tower sale in the previous year, the company’s net income stood at P5.8 billion or 13 percent higher than 2023 Lorenz S. Marasigan

By VG Cabuag @villygcg

T he company’s proper t ies i nvolved were Haciendas Palico, Banilad and Kaylaway, according to the Nasugbu LGU.

The LGU’s order comes amid increasing tensions in the longstanding land dispute between RCI and an estimated 50,000 residents and agrarian reform beneficiaries.

Early this week, Nasugbu Mayor Antonio Jose A. Barcelon ser ved a notice to RCI for the revocation of its business permit should RCI continue to fail to settle its real property taxes, which have become due and demandable to date.

A final assessment on its tax due was still being computed.

“This ser ves as a formal notice to your company of the possible revocation of your business permit by this office should you continue to fail to settle your RPT, which have become due and demandable,” Barcelon wrote.

To protect the interest of Nasugbu, the mayor also sent a letter to the Bank of the Philippine Islands, which stressed the need to exert all measures and means to resolve the issues concerning the unpaid taxes and longstanding land dispute covering eight barangays with a total population of 38,523 The barangays were all of Aga, Banilad, Bilaran and portions of Tumalim, Reparo, Cogunan, Lumbangan and Catandaan

Banking&Finance

Barcelon asked the BPI to assist in whatever legal and appropriate action to resolve these issues.

Please be informed that Roxas y Cia has not been paying the RPT on the properties mortgaged with your bank,” Barcelon wrote.

In a resolution dated May 6, 2024, the Municipal Council of Nasugbu Batangas, also appealed to the national government to help protect the interest of the Nasugbu residents.

T he resolut ion called on t he Depar tment of Ag rarian Refor m to uphold the Certificate of Land Ownership Award (CLOA) granted to the farmers as part of the Comprehensive Agrarian Reform Program (CARP), and to resist the efforts by RCI to retake the Roxas Haciendas through means such as CARP exemption, land conversion and CLOA cancellation.

Nasugbu Vice Mayor Mildred B. Sanchez cited the necessity of this resolut ion to protect Nas u gbu’s agrarian reform beneficiaries, who are demanding a more equitable settlement over the Roxas Haciendas. Sanchez added RCI’s payment would increase tax collections that may be used for the benefit of Nasugbu

The company had a total of approx imately P4.2 billion of bank loans outstanding and unpaid interest. Approximately half of this amount owed to the BPI. About P1 billion of RCI’s loans are classified as current liabilities and past due for payment, majority of which are also with BPI.

Proper t ies for m ing pa r t of t he Roxas Hac iendas a re mor tgaged and used as collateral to sec ure t he loan obl igat ions of RCI w it h local banks.

Sthe first four months of

year bringing the bank’s branch network to 328 branches to-date. The new branches are located in Davao North Diversion (Davao City), Santa Mesa (Manila) and Ilagan City (Isabela). According to SECB, its net loans increased to P545 billion, up 12 percent Y-o-Y and up 1.3 percent Q-o-Q. Retail and MSME loans further accelerated to 32 percent growth rate Y-o-Y from the 29 percent posted in the fourth quarter of 2023 W holesale loans grew 4 percent Y-o-Y. According to the lender, the growth in retail and MSME loans was driven by home loans (which increased 18 percent Y-o-Y), auto loans (which rose 46 percent), credit cards (which grew 49 percent) and MSME loans (which grew 74 percent). On a sequential Q-o-Q basis, retail and MSME loans increased 6 percent. Retail and MSME loans as percent of total loans increased to 31 percent, up from 26 percent a year ago and up from 29 percent a quarter ago.

Total investment securities increased to P243 billion, up 23 percent Y-o-Y and up 7 percent Q-o-Q. The bank continues to have healthy liquidity, with liquidity coverage ratio (LCR) of 184 percent and net stable funding ratio (NSFR) of 131 percent as of March 31, 2024.

SECB continues to be among the countr y’s best capitalized private domestic universal banks. Common Equity Tier 1 Ratio was 14.4 percent and Total Capital Adequacy Ratio (CAR) was 15.3 percent. Total assets increased to P887 billion, up 12 percent Y-o-Y. Shareholders’ capital likewise increased to P136.6 billion, up 6 percent Y-o-Y. On March 26, SECB approved cash dividend declaration of P1.50 per common share representing regular semestral cash dividend, with payment date on April 29, 2024. On May 9, 2024, SECB issued USD400 million of senior unsecured fixed rate bonds with coupon of 5.50 percent, tenor of five years, and maturity date of May 14, 2029. Settlement date was on May 14, 2024. The bonds were a drawdown of the

Timely tweak of RTL hoped to tame NFA debt, inflation

By Reine Juvierre Alberto

FINANCE Secretary Ralph G. Recto said he does not expect the National Food Authority’s (NFA) debt to balloon amid the proposed amendments to the Rice Tariffication Law (RTL) to reduce rice prices in the country.

Recto told reporters on the sidelines of the 54th anniversar y of the Development Budget Coordination Committee (DBCC) last Tuesday that inflation is expected to slow down by the end of the year as well as the reduction of rice prices to follow.

THE Philippine Amusement and Gaming Corp. (Pagcor) announced last Wednesday that the countr y’s gross gaming revenues (GGR) in the first quarter of the year reached P81.70 billion, an 18.54-percent increase from the P68.92 billion in the same quarter last year

According to Pagcor the latest GGR is another new record, sustaining an upward trend for the local gaming industr y since the postpandemic recovery started in the last quarter of 2022.

Pagcor Chairman and CEO Alejandro H. Tengco was quoted in a statement as saying that the electronic games (e-Games) sector continues its

MAKESHIFT warehouses in Palawan with a tax liability of P150.693 million for storing smuggled cigarettes were raided by the Bureau of Internal Revenue (BIR) on May 1. According to a statement issued by the BIR, a total of 227,351 packs of illicit cigarettes were seized from the makeshift warehouses in Brooke’s Point, Palawan.

The illicit traders and possessors were found responsible for a total of P150.693 in tax liability after the BIR conducted an inventor y of the seized smuggled cigarettes.

“This is a particularly successful operation for the BIR because Palawan is considered a hotspot for the illicit cigarette trade,” the BIR statement read.

According to the BIR, there were eight targeted and non-targeted individuals involved and confirmed to be in

FOR people who are planning to travel more this year having the right credit card is a good way to roam the world, according to the Credit Card Association of the Philippines (CCAP). “Frequent flyers a re in a u n ique posit ion to benef it f rom t he robust g rowth of the credit card industr y,” CCA P Executive Director Alex G. Ilagan was quoted in a statement as saying. “Credit card companies constantly release new products and prog rams specifically geared towards travelers, allow ing them to ear n points or miles quickly, gain access to air port lounges, and

“Even with the tweaking [of the RTL], we will make sure that the debts of NFA do not balloon,” Recto said, adding that he is “more or less” in favor of the amendments to the RTL.

Recto added that the Department

record-breaking performance, bringing in P22.5 billion or more than six times the 2023 first quarter revenues of P3.5 billion.

“T he e-Games revenue per formance cont i nues to exceed our projections, and this reflects how gaming technology and the proliferation of mobile dev ices is influencing not only our daily lives but our entertainment choices as well,” Tengco said.

“With the way technology is constantly shaping our lives and the way we do business, and even the way we choose to be entertained, the future of gaming clearly lies in this sector,” the Pagcor chief added.

Tengco said the state-run gaming

possession of the smuggled cigarettes. T

m i nal

c h a rges i n accordance w it h Sect ions 6 (C) (Aut hority to Conduct Inventor y-tak i ng, Sur ve i llance and to Presc ribe Presu mpt ive Gross Sales and Rece ipts), 15 (Aut hority of Inter nal Revenue Off icers to Make A rrests and Se i z ures), 13 0 (Fi l i ng of Ret ur n and Payment of Exc i se Tax on Domest ic Products), 131 ( Payment of Exc i se Taxes on Impor ted A r t icles), 144 (Exc i se Tax on Tobacco, Heated Tobacco Products, and Vapor Products) and 145 (Exc i se Tax on C iga rs and C iga rettes).

The charges also include violation of Sections 254 (Tax Evasion), 263 (A) (Selling of Heated Tobacco Products and Vapor Products at a Lower Price than the Combined Excise and Valueadded Taxes) and 265 (Offenses Relating to Stamps) of the National Internal

of Finance (DOF) is still studying the amendments to the RTL but decline not disclose his department’s stance.

“So far I think the RTL is working. Maybe we can tweak it a bit to allow NFA [to buy and sell] for emergency purposes,” the Finance chief said.

“If you look at the market, the price of rice is going down. Between now and then, the tweaking of the RTL is still timely,” Recto added.

The DOF expressed confidence that the countr y will post a growth of 6 percent before the end of the year since inflation is seen to decline.

“We expect rice prices to start slowing down, too,” Recto added.

The House of Representatives approved the House Bill (HB) 10381 on second reading to amend the RTL through a voice vote to

agency’s improved reg ulator y policies and reduced fees also contributed to the success of the e-Games sector

“We are confident that with our new regulator y policies, more gaming companies both here and abroad will continue to look at business and investment oppor t u nit ies in t he Philippine gaming industry,” he said. The biggest contributor to the first-quarter GGR is still the countr y’s licensed casinos, which brought in P49.7 billion, although it is lower than the PP54.15 billion year-onyear Pagcor-operated casinos under the Casino Filipino brand brought in P4.69 billion, also lower than the

Revenue Code of 1997, or Tax Code, as amended.

“The BIR is continuous in its war against illicit vape and cigarette trade, all over the Philippines. W hether the illicit trade is in Palawan or in Metro Manila, we will pursue them,” Internal Revenue Commissioner Romeo D. Lumagui Jr was quoted in the statement as saying.

Lumagui added that the Bureau’s regional and district offices can order to deploy all available manpower to curb the illicit vape and cigarette trade.

The BIR said that the activity was a joint effort with the Criminal Investigation and Detection Group (CIDG), Philippine Coast Guard (PCG), Philippine National Police (PNP), Bureau of Customs (BOC), and Department of Health (DOH).

Last Tuesday, personnel of t he Bureau of Cu stoms (BOC) se i zed

previous year’s P5.13 billion, underscoring the challenge faced by the segment as more players continue to migrate to online platforms.

Bi ngo operat ions cont ributed P4.81 billion to the GGR, also lower than the 2023 first-quarter take of P6.13 billion.

The countr y’s projected full year GGR is P336 billion and the first quarter total is more than 24 percent of the target. Gaming revenues traditionally spike in the last quarter of the year

The first quarter GGR for 2024 is, however, still higher than the previous record of P80.12 billion set in the last quarter of 2023, when full-year GGR reached P285.27 billion.

a shipment of smu ggled c iga rettes f rom Si ngapore wor t h an est i mated P 791 m i ll ion at t he Man i la Inter nat ional Conta i ner Por t (MIC P). The seizing of the smuggled goods of both the BIR and BOC was in response to directive of the President Ferdinand R. Marcos Jr to strengthen their efforts in the war against illicit trade.

Earlier, Marcos appealed to both bureaus to ramp up their efforts in curbing tobacco and vape products smuggling to protect the countr y’s local tobacco industr y.

“Enforcement and anti-smuggling and all that. You really have to beef them up and I think we’re doing that,” the President said. “There will be [more efforts] with the Bureau of Customs and BIR so that we can improve performance with that regard.” Reine Juvierre Alberto

Health&Fitness

Editor: Anne Ruth Dela Cruz

Women not prioritizing their health, gaps seen in cervical cancer campaign–survey

By Claudeth Mocon-Ciriaco

CERVICAL cancer is one of the most preventable cancers, yet in the Philippines it is the third most common cancer among women.

This month of May, in observance of Cervical Cancer Awareness Month and in celebration of Mother’s Day, Roche launched a campaign across five countries in Asia Pacific that aims to empower women to take action and control of their own health.

Roche announced data from a new Asia Pacific wide survey, revealing that women are de-prioritizing their health, while fundamental gaps around cervical cancer continue to persist.

Findings

THE survey which explored awareness and attitudes of women’s health with almost 3,000 women in the Asia Pacific region, exposed four key barriers holding women back: Women are time-poor. Almost half of women put the needs of their family before their own, often delaying or even stopping medical treatment as a result.

Fear.  More than one third of women have never had a cervical screening and are not planning to.

Gaps in awareness and support. More than half of women have little to no knowledge of women’s health tests and screenings, including cervical cancer diagnostic methods. Women’s health is undervalued.

An overwhelming 71 percent of women feel undervalued and believe limited attention is given to female diseases.

“This new survey reinforces the urgent need to reduce barriers and intensify efforts to ensure women have the right information and feel supported when it comes to their health,” said Ingrid Magnata, country program manager of non-government organization Jhpiego Philippines, and one of the partners of Cervical Cancer Elimination Movement (CCEM).

Partnership

TO help women understand the importance of selfcare, Roche Diagnostics has partnered with CCEM and Women Workers for Health Empowerment Network (WHEN),

and launched the campaign themed #MakeTheMostImportantDate on May 12, 2024.

Roche Diagnostics has partnered with leading clinics where Filipinas can schedule their cervical cancer screening.

Together with Medi Linx Laboratory Inc. and the GMA Network’s Kapuso Foundation, cervical cancer screening using HPV DNA test (human papillomavirus deoxyribonucleic acid test) and education sessions for women in Lucban, Quezon will be made available.

Driving awareness and providing access to screening to their corporate partners and patients nationwide are major laboratories like Hi-Precision Diagnostics, New World Diagnostics and

Cancer hospital, patient group partner to promote universal healthcare, services

By Candy P. Dalizon Contributor

HEALTHWAY Cancer Care Hospi-

tal (HCCH), the country’s first dedicated cancer care facility, and the Philippine Alliance of Patient Organizations (PAPO) have joined forces to advance initiatives aimed at promoting universal access to healthcare and allied services. Their collaborative efforts will prioritize and elevate patient care and health outcomes, specifically focusing on those with cancer.

Established by Ayala Healthcare Holdings Inc. (AC Health) and the Healthway Medical Network, HCCH’s vision is to provide accessible and quality cancer services to more Filipinos.

PAPO, a coalition of patient organizations, advocates for meaningful reform in three fundamental areas in order to improve the quality of healthcare in the country—respect for patient’s rights, universal healthcare, and participation in health policymaking, which includes cancer control policies.

Leaders from HCCH and PAPO signed the memorandum of agreement (MOA) on April 22, 2024 at HCCH in Arca South, Taguig City. Present during the MOA signing were Paolo Borromeo, AC Health President and CEO; Jimmy Ysmael, HCCH and Healthway Philippines Inc. President and CEO; Nona Ong, HCCH COO; Ruby Chiong, AC Health and HCCH Chief Finance Officer; Dr. Manuel Francisco T. Roxas, HCCH Medical Director, and Dr. Mari Joanne Joson, Head of Quality of Life Department of HCCH.

Representing PAPO were Karen Alparce-Villanueva, PAPO President; Fatima Garcia-Lorenzo, Co-Founder and Member of the Board of Advisors; Marimel Lamsin, Board Treasurer, and Amanda Bonife, Member of the Board of Trustees.

“PAPO is pleased to partner with Healthway Cancer Care Hospital, the first of its kind in the Philippines and which

aims to elevate cancer care for Filipino patients. Our partnership is more than just about treatment but includes the entire continuum of care—from prevention through disease awareness and health literacy, to diagnostics and screening, to treatment, recovery and quality of life care,” said Villanueva.

She added that PAPO supports HCCH’s desire to offer the most affordable rates in order to ease the out-ofpocket expenses of patients.

“Through this partnership, we aim to elevate patient-centered care and support for cancer patients and their families; forge a stronger alliance between patient organizations and healthcare providers to tackle cancer challenges; empower the public with increased awareness and knowledge about cancer prevention, treatment, and support, and advocate for a more supportive policy landscape that prioritizes cancer care and patient rights in the Philippines,” said Dr. Roxas.

The HCCH and PAPO partnership will focus on four key areas: Comprehensive Cancer Care Services, Hospice and Palliative Care, Patient Advocacy Groups, and Health Literacy and Patient Safety.

“Under Comprehensive Cancer Care Services, we will explore joint initiatives

aimed at cancer prevention, detection, treatment, and survivorship support,” added Dr. Roxas.

The partnership likewise entails collaboration on initiatives for the care and treatment of multiple myeloma, lung, and liver cancers, as these are priority areas for PAPO in supporting and finding funding for patients in need.

HCCH and PAPO have also committed to work together in promoting interdisciplinary approaches to hospice and palliative care, incorporating best practices, and ensuring access to these services for all eligible patients.

Putting Patients First, Care Beyond Cure

“WE at HCCH recognize that the patient’s voice is a powerful agent of change and healing. Therefore, we empower our patients to actively participate in decision-making regarding their care,” said Dr. Joson.

Dr. Roxas likewise emphasized the importance of patient organizations championing patient rights. These organizations ensure patients’ voices are heard and advocate for better disease management.

With this partnership, HCCH and PAPO seek to empower and support pa-

tient advocacy groups in their efforts to raise awareness, influence policy changes, and ultimately, enhance the patient experience across healthcare settings.

“We appreciate that Healthway Cancer Care Hospital is offering a sanctuary for patient advocacy groups so that we can have a stronger voice in helping shape healthcare policies,” said Villanueva.

Recognizing the critical role of health literacy in empowering and safeguarding patients, both parties will prioritize developing and disseminating educational materials and programs to improve health literacy for patients, caregivers, and healthcare providers.

HCCH, the first comprehensive cancer care hospital in the Philippines, was inaugurated on November 24, 2023, in the presence of President Ferdinand R. Marcos Jr. Located in Arca South, Taguig City, the 100-bed hospital is now operational, providing patients with comprehensive care throughout their cancer journey, from screening and diagnostics to treatment.

For more information, visit https://healthwaymedicalnetwork.com. ph/ or head to Facebook for updates and announcements at https://www. facebook.com/healthwaycancercare/

Pinoys should be tapped to help digitalize healthcare–IT exec

By Rizal Raoul S. Reyes Contributor

TAPPING local talents is very important if the country is going to use blockchain and digitalize its healthcare infrastructure.

Robert Jenkin, CEO of CloudSigma, told reporters in a recent interview that the Philippines has a substantial pool of skilled developers who have experience with blockchain technology.

“That’s something where you can empower a local development company to be able to then build those applications that are then used by the local whatever sector it is, whether it’s health, or government or whatever local knowledge,” Jenkin said in an interview on the sidelines of the recently concluded 2nd Philippine Chief Technology Officers Summit held at Rockwell, Makati.

“Local knowledge at the application level is really important,” he added.

Different talents

HE said developing a digital and blockchain infrastructure needs a team consisting of different expertise in technology to handle challenges that may occur during the implementation.

Tim Dailey, vice president of global business and operations of Red Date Tech, said a foreign tech company that will implement a project outside its head office must study and learn the local conditions to ensure a smooth implementation.

“I’ve seen so many projects where you have developers and architects in a different country or different parts of the world trying to design an application for a country where they’ve never been in a system they don’t understand,” said Dailey.

For instance, Dailey said an American company would certainly be at a loss in doing a project for a Filipino hospital because they will assume it would be similar to the American healthcare system.

“They know nothing about the Filipino healthcare system. So I think Robert is exactly right, which is, you know, what we do from an infrastructure perspective is very transportable, because it’s not culture or ecosystem specific, but at the application level, that’s really important,” Dailey explained.

Jenkin said a foreign company should engage the local developers because of their capabilities that would be needed in the project. Moreover, he said the Filipino workforce should assist them in building the database.

“Since that data is very personal,  it should stay here in the Philippines, not only from a performance perspective, but also just from a data security and sovereignty perspective,” he said.

“That’s what we’re enabling right with our partners here,” Jenkin added.

Blockchain technology

JENKIN said the deployment of blockchain technology would be beneficial to the healthcare sector because

it would boost transparency in the operations and manage resources in an efficient manner.

He added the healthcare sector should take advantage of using blockchain specially in managing the database and conducting public biddings.   AWS defines blockchain technology as an advanced database mechanism that allows transparent information sharing within a business network. Moreover, a blockchain database stores data in blocks or ledgers that are linked together by a chain. The data is chronologically consistent because you cannot delete or modify the chain without consensus from the network.

As a result, blockchain technology can be used to create an unalterable or immutable ledger for tracking orders, payments, accounts, and other transactions. The system has built-in mechanisms that prevent unauthorized transaction entries and create consistency in the shared view of these transactions.

Singapore Diagnostics. The Department of Health, meanwhile, said that cervical cancer is a type of cancer affecting the cervix. It is considered a preventable disease and is curable when detected early.

“However, it remains as the second most common type of cancer among Filipino women ages 15 to 44 years old,” the DOH said.

Symptoms

PATIENTS don’t usually have any symptoms during the earlier stages of the disease, according to the DOH.

By the time the individual has symptoms, the cancer may have already spread.

These symptoms include: Abnormal bleeding from the

vagina, irregular bleeding, heavy menstrual bleeding, or bleeding/ spotting after sex

Unpleasant vaginal discharge: whitish or blood-stained

Pain during sexual intercourse

Other symptoms which may point to a more advanced cancer include:

Pelvic pain

Difficulty urinating

Swelling of the legs

Screening for cervical cancer include having a Pap smear done every three years and/or an HPV test every five years.

The DOH reminded that screening should start at 30 years of age but may begin earlier especially for high-risk individuals.

First thousand days is crucial for a healthier future for babies

By Rory Visco Contributor

NOTHING can be more exciting for families than having a baby born into their midst, a tremendous bund e of joy that will complete the family especially those who are just starting one.

But ask any parent and they will say with absolute certainty that hard work immediate y settles once the euphoria of having a newborn baby dies down. Parents be ieve that caring for

tter their first word and perform other important milestones that create great memories for the family. Experts remind new parents that aside from these high ights in the ives of babies they should bear in mind that the ear y years of a baby common l y ca ll ed “The First 1, 000 Days” or 1, 000 days from pregnancy to the child s second birthday is a critica period. This is where the health of both the mother and the baby should be ensured in order to create a healthier future for the child. And this is where nutrition plays a vital role. According to 1,000 Days an initiative of FHI 360 a nonprofit human deve opment organization based in North Carolina in the US, poor nutrition in the first 1,000 days “can cause irreversib e damage to a chi d s growing brain, affecting her abi ity to do well in schoo and earn a good iving and making it harder for a chi d and her fami y to rise out of poverty.” The group said that poor nutrition “can also set the stage for later obesity diabetes and other chronic diseases which can lead to a ifetime of health problems.

Government investment FROM an economic impact standpoint the group a so pointed the importance of having governments invest in the wellbeing of women and chi dren in the first 1,000 days for failure to do so means osing “billions of dollars to lower economic productivity and higher health costs.” Wor d H ea l th Organi z ation (WH O) data showed that g oba ll y more than 5.9 chi l dren u nder fi ve years o l d die d u e to ma l n u trition. On the other hand the U N I C EF said that 95 chi l dren in the Phi l ippines die from ma l n u trition e very day whi e 27 o u t of 1, 000 Pinoy kids do not get past their fifth birthday and a third of them are st u nted or short for their age, a condition wherein after two years of age can be permanent irreversib e or e ven fata l Despite this somewhat gloomy scenario all is not lost for moms and their babies with support coming from the nationa government the egislature and the private sector. In November 2018 then-President Rodrigo Duterte signed Republic Act 11148 more known as the “Kalusugan at Nutrition ng Mag-Nanay Act” or The First 1,000 Days Law where the government will provide much-needed support and assistance through scaled up healthcare strategies aimed at caring for mothers and their babies for the first 1,000 days. Even government

Why do we need a ParenTeam?

Mother’s Day campaign in PHL on messaging platform

A GLOBAL leader in private and secure messaging and voice-based communication and a leading communication app in the Philippines, Rakuten Viber has recently rolled out Branded Viber Gems, its latest interactive advertising solution.

One of the country’s trusted growing-up milk brands and the expert in healthy toddlerhood, NIDO 3+5+ introduced the solution in the Philippines with a special Mother’s Day campaign, developed together with its integrated media agency OpenMind. The Nido 3+5+ Branded Viber Gems campaign is the solution’s debut not just in the country but across the entire Asia Pacific region.

Viber Gems are special festive animations activated when users send certain words or phrases such as “Happy Birthday” or “Happy New Year”. The feature has long been enlivening chats: in 2023 alone, it received over 35 million views in the Philippines. Branded Viber Gems are a unique product placement option that raises brand visibility and creates positive associations between a popular holiday and a brand.

Rakuten Viber and Nido 3+5+ made sure to celebrate all moms and their acts of love: when users send “Happy Mother’s Day” in chat, their moms, grandmas, aunts, and all kinds of mothers (fur ones included!) will see a vibrant festive greeting with a yellow heart, courtesy of Nido 3+5+.

“NIDO 3+5+ has been the No. 1 ally of Filipino moms for more than 50 years now. We take pride in supporting our moms in ensuring a healthy future for their toddlers. That’s why we celebrate all moms as No. 1 moms. We’re very excited to partner with Rakuten Viber for our Mother’s Day campaign. We see Branded Viber Gems as an innovative digital advertising tool in raising brand awareness and engagement but also a way to really connect with an evolving and modern audience” says Gian Abaya, NIDO 3+5+ Brand Manager.

“Seeing Filipinos’ enthusiastic response to Viber Gems, we seized the opportunity to introduce it to our brand partners as an inventive way to interact with their customers,” shares Karla Banua, Sales Lead, Advertising in APAC at Rakuten Viber. “We’re thrilled to roll out this Branded Viber Gems campaign in collaboration with Nido 3+5+ and OpenMind for Mother’s Day, a cherished occasion in the country.”

The Nido 3+5-branded Viber Gems are accessible to users in the Philippines both on mobile and desktop, matching fun and festive greetings that help celebrate Mother’s Day.

MY younger sister recently shared that a friend of hers asked how I, her sister, was able to guide my children to love school, sports and leadership roles, as well as excel in them. My sister answered that I was the perfect example of “It takes a village to raise a child.” She said I read a lot, but I am also not afraid to ask questions or to ask help from anyone I feel may help the growth and development of my children.

That’s why I was so glad to hear that Wyeth Nutrition and Nestlé Nutrition, two trusted and beloved nutrition giants, have “teamed up” and combined their hundred-plus years of expertise in nutrition science to introduce and launch ParenTeam—a modern digital platform available via helpful resources and tools designed with the needs of today’s moms and dads in mind.

Because navigating the turns and twists of raising happy, healthy kids in today’s world can, on many occasions, feel like a daunting task with new challenges and opportunities. Parents will surely need a capable ally who understands their unique needs and experiences, someone who can help and support them.

In pursuing this support, data shows that parents don’t rely on just one information source to get what

or want to achieve. These primarily include trained experts like their doctors or healthcare professionals, as well as other experienced parents from their circle of family and friends. Furthermore, the data also shows that in today’s world, they heavily consult online sources for their much-needed validation and information.

Mindful of the intent of providing meaningful what they need in one welcoming, integrated digital platform with well-organized resources and features that are always on, imparting essential information on children’s nutrition and providing support for parents’ overall wellbeing—laid out thoughtfully so

navigate to what’s relevant for them and their family. Whether they’re trying to get pregnant, planning to start and grow a family, taking care of a new little one, or navigating the have got them covered. These include expert articles encompassing various parenting stages and topics—for instance, one that talks about when to take a pregnancy test, which is one of the essentials when attempting to conceive. For parents well into their pregnancy, ParenTeam’s article on understanding cravings or “paglilihi” could prove

relevant and practical. For example, those looking birth will discover that the platform’s feature piece about mommy on recovery comes packed with thoughtful and insightful ideas. It also has sensible

articles on what to do if one’s baby always says “no” and how to read a child’s hunger and fullness cues.

For parents with active young ones, ParenTeam has an intriguing piece about handling a picky toddler. For those with kids starting preschool, ParenTeam has informative articles on the three growth nutrients parents must know about and the comes to tummy health.

Mothers looking to enjoy their fantastic journey to motherhood can use ParenTeam’s Pregnancy Weekly Calendar, which enables them to discover what changes they can expect as they anticipate welcoming the new love of their lives. Those who want to predict their baby’s birthday can likewise use ParenTeam’s Due Date Calculator to stay up to date on their delivery and plan for their baby-to-be.

ParenTeam also has a convenient, child stageappropriate Recipe Finder to help parents discover new ideas to try with their kids, intending to help their little ones become healthier and happier.

Checker, developed by experts to help parents calculate their child’s daily nutrient intake, identify any dietary needs, and provide recommendations on adjusting their daily diet if necessary.

Through these, parents and those who play active parent roles within their families will discover that ParenTeam can be an ally. It will lend a capable helping hand every step of the way as a and assurance, carefully providing them with the knowledge they require and the answers they seek for whichever parenting stage they’re in.

ParenTeam isn’t just about information and these valuable tools and features—it’s also about making great parenting connections. Plus, they can enjoy ParenTeam family.

www. parenteam.com.ph.

Brain study identifies a cost of caregiving for new fathers

USC Dornsife College of Letters, Arts and Sciences

PARENTING makes the heart grow fonder, and the brain grow...smaller? Several studies have revealed that the brain loses volume across the transition to parenthood. But researchers like me are still figuring out what these changes mean for parents.

In a new study that looked at brain change in first-time fathers, my colleagues and I found that brain volume loss was linked with more engagement in parenting but also more sleep problems and mental health symptoms. These results might point to a cost of caregiving, traditionally shouldered by women but increasingly borne by men also.

BRAIN CHANGES FOR MOM COME WITH NEW BABY CARING for an infant demands new motivations and skills, so it is no surprise that it might also sculpt the brain. Research in rodents first identified remodeling of both the structure and function of the brain during pregnancy and parenthood. A new body of research is unearthing similar effects in human parents, too.

In a pair of studies, researchers recruited first-time mothers for a brain scan that occurred before they became pregnant and then scanned them again a few months after birth. Gray matter—the layer of brain tissue that contains neuronal cell bodies—shrank in the mothers but not in a

comparison group of women who did not become mothers. Although a shrinking brain sounds bad, researchers theorized that this more streamlined brain could be adaptive, helping process social information more efficiently and therefore facilitating sensitive caregiving. In keeping with this hypothesis, studies have linked maternal brain changes with women’s degree of attachment to infants and with their responses to images of their infants. Women who lost more gray matter volume also appeared more bonded with their babies.

NEW DADS’ BRAINS CHANGE, TOO

Most studies of the parental brain have focused on women, but emerging evidence suggests that similar brain changes might occur in new fathers, too. My collaborators and I had previously identified brain volume loss in men transitioning to fatherhood, in similar parts of the brain that changed in mothers.

Before you picture the shrunken-head guy from the movie Beetlejuice, keep in mind that these changes were subtle. Fathers showed smaller, less statistically significant brain changes than mothers. Dads vary in how invested they are in caring for the baby, so as a next step, we wanted to know how men’s brain changes across the transition to fatherhood map onto their experiences of new parenthood.

To test this question, we looked more closely at 38 men we scanned in California before and after their baby’s birth.

During pregnancy and again at three, six and 12 months postpartum, we asked the fathers how they were feeling about their infants and how well they were sleeping. We also asked about their symptoms of depression, anxiety or other mental health problems. As before, we saw significant prenatal-to-postpartum brain differences across the entire cortex, the outermost layer of the brain that carries out many higher-order functions, such as language, memory, problem-solving and decision-making. On average, men in our sample lost about 1 percent of their gray matter volume across the transition to parenthood. Perhaps our findings in fathers point to a cost of caregiving, a burden that has long been familiar to mothers but may be increasingly shared by men as fathers step up their participation in hands-on parenting. The take-home message here is not that men should stop caring for children. A slew of research suggests that children with involved fathers do better across the board: academically, economically and emotionally. And fathers themselves report that parenthood makes their lives richer and more meaningful.

Results like these support public health priorities that invest in fathers—and parents in general—through policies that reduce stress for new parents in the first months after birth, such as paid leave and workplace efforts to normalize leave-taking among men. THE CONVERSATION

PHOTO BY PATRICIA PRUDENTE

CONSUMER BRAND DELIVERS LOVE AND SUPPORT TO SINGLE MOMS, PREGNANT WOMEN

THERE are 14.2 million single mothers in the Philippines. Single moms are doing the work of two parents, often sacrificing their own needs for the sake of their children. Some also experience financial struggles and lack of support systems while raising their kids.

Pampers (www.pampers.com), the trusted brand of baby care products by Procter and Gamble (P&G), launched the campaign #MoreThanGold in 2022 in partnership with World Vision’s Go Baby Go! (GBG) Parenting Program to help assist moms and pregnant women on the first 1,000 days of their babies—when their physical, emotional and cognitive growth needs a nurturing environment for them to be healthy.

According to Unicef Philippines, 27 out of 1,000 Filipino children are at risk of not reaching their development potential before turning five years old. Go Baby Go’s program takes a caregiver-centric approach, empowering moms with knowledge to help them establish the foundation needed for lifelong learning during their children’s early development.

Pampers and World Vision Development Foundation (WVDF) collaborated to bring a parenting program to six districts in Quezon City. The program included learning sessions with single mothers and nutritionally-at-risk pregnant women, where they received valuable parenting strategies from experts.

World Vision covered 10 topics, including “Holistic Child Development,” “Sensitive and Responsive Caregiving,” “Importance of Play and Communication,” “Well-being for Caregivers,” and “Babies’ Physical, Cognitive, and Social and Emotional Development.” Following the sessions, WVDF’s trained community health workers conducted personalized home visits for regular consultations.

In addition to enhancing their understanding of their babies’ early development, the program also focuses on supporting the self-care of single mothers. It provides them with strategies and guidance to prioritize their own wellbeing while caring for their infants.

“We greatly admire the determination and resilience of all mothers including single moms and other mother figures, and we wholeheartedly celebrate their heroism within the communities we serve. P&G Philippines and Pampers proudly support and honor mothers who play a vital role in creating a nurturing and healthy environment for Filipino families and communities,” says Charm Banzuelo, senior communications manager for Pampers Philippines.

More information is available at www.pampers.com or www.facebook.com/PampersPh.

ON UNSPLASH

ASIAN EYE DIRECTOR NAMED AMONG WORLD’S MOST INFLUENTIAL EYE CARE PROFESSIONALS

PAY M ENT I nno v ation , I nc , a l so k no w n as P a y Coo l s recent l y signe d an agreement w ith se v era sta k eho d ers f rom go v ernment regu ator y agencies , state - o w ne d f inancia l institution , an d in d ustr y l ea d ers w hi e emphasi z ing the v ita ro l e that inno v ation an d co ll a b oration p l a y s to he p d ri v e progress in the pa y ment ser v ices sector

Pa y Coo s , w hich operates in ma or S outheast

A sian countries such as n d onesia , T hai l an d M a l a y sia an d the P hi ippines an d pro v i d es topnotch f inance pa y ment an d b usiness so utions , entere d into a co ll a b orati v e partnership w ith the S ecurities an d E x change Commission ( S E C ), L an d B an k o f the P hi ippines (L BP ), B ureau o f the Treasur y ( B Tr ), inc l u d ing in d ustr y sta lw arts JNT an d A ll b an k to he l p stream l ine go v ernment regu ator y processes an d pro v d e more ease in putting up an d running b usinesses an d pro v i d e more F i l ipinos w ith access to more inancia ser v ices

O ur partnership w ith S E C an d L an db an k is pi v ota l to our mission at Pa y Coo s We p l an to w or k c l ose l y w ith these institutions to f urther stream ine regu l ator y processes e x pan d access to f inancia l ser v ices an d d ri v e d igita inno v ation T his inc l u d es e x p l oring a v enues or supporting initiati v es that promote f inancia l iterac y an d inc usion among F ipino entrepreneurs u timate l y f ostering a more con d uci v e en v ironment f or b usiness gro w th an d economic d e v e l opment ,” sa y s Pa y Coo l s Gl o b a l C E O E amon D an in his speech d uring the signing o f the agreement H e sai d that e v en though Pa y Coo l s d esire to e x pan d w ithin the AS E A N region ma y ha v e its o w n share o f cha ll enges b ecause o f regu l ator y d i ff erences D an sai d he w ou l d l i k e to v ie w them a so as opportunities to partner f or more inno v ation an d co ll a b oration

“ O ur strateg y in v o lv es w or k ing c ose l y w ith l oca l regu ator

-based violence in the cit y.

Envoys&Expats

Australia ramps up investments in women’s economic power

AUSTRALIA has launched the new phase of its “Investing in Women” program with gender-equality advocates from the government, private sector and civil society.

oppor t u n it ies to engage e quitably

i n t he wor k force prov ides g reat econom ic and soc i al d i v idends. Acco r d i ng to a 2018 st u dy by McK i nsey & Company, advanci ng gende r e qu al ity i n t he Phi l ipp i nes—ac ross all soc ioeconom ic g roups—cou ld see annu al [ g ross domest i c p r od u ct] g r ow by u p to 7 pe rcent,” D r Collett added.

“T he t heme of t hi s yea r ’s Inte rnat ional Women’s Day i s to i nvest

i n women to accele r ate prog ress.

T hi s i s t he m i ss ion of Invest i ng

i n Women: to s uppor t women’s empowe r ment i n orde r to u nlock g reat potent i al for i nclu s i ve econom ic g rowt h .” T he new ph ase of Invest i ng i n Women w i ll bui ld on t he res u lts, pa r tne r s hips, lea r n i ng and c redi b i l ity t h at we re establ i s hed i n t he f ir st seven yea r s of t he prog r am. It w i ll also st rengt hen t he ev idence base and d rive collect ive act ion to i nfor m pol icy refor m t h at s uppor ts women’s e qu al econom ic pa r t ic ipat ion, pa r t ic u la r ly related to ca re wor k. In t he Phi l ipp i nes and ac ross t h e wo r ld, women cont i nu e to take on t he majority of ca re respons i b i l it ies, w hic h l i m its t he ir capac ity for produ ct i ve wor k and self-development, accord i ng to a statement f rom t he embassy.

D r Collett also revealed In-

vest i ng i n Women’s new t ies w it h t he A u st r al i an Nat ional Un i ve rsity’s Global Inst it ute for Women’s Leade r ship, Oxfam Pi l ipi nas, and Good Ret ur n. Spec i f i cally, t h e A u st r al i an gove r nment w i ll wor k w it h t he u n i ve r s ity’s i nst it ute to embed wor ld-class resea rc h and ev idence i nto all i n it i at i ves.

Fur t he r, A u st r al i a w i ll wor k alongs i de Oxfam Pi l i p i nas and Good Ret ur n to st rengt hen lo-

cally d ri ven campa i gns for gende r e qu al ity. On be h alf of t h e Phi l i pp i ne gover nment, Undersec reta r y Emmel i ne Agl ipay-V i lla r of t he Depa r tment of Soc i al Welfa re and Development conveyed he r message of s uppor t: “Let u s reaff ir m our comm itment to gende r e qu ality and women empower ment. We a re one w it h ot he r duty-bea re r s i n wor k i ng for a soc iety w he re i nvest i ng i n women i s not ju st a c hoice, but a m i ss ion. Toget he r, let u s wor k t irelessly to bui ld a f ut ure w he re eve r y woman h as t he oppor t u n ity to s u cceed.” In i ts f ir st seven yea r s, Invest i ng i n Women h as i nvested P 199.51 m i ll ion i n 3 4 womenled and owned small and med iu m ente r p ri ses, mob i l i zed P 624.89 m i ll ion i n pri vate i nvestments, and establ i s h

i nesses, s u c h as 1Expor t and Tax u mo, we r e r ecogn i zed as among t h e top Phi l i pp i ne sta r t u ps duri ng “ Phi l ipp i ne Sta r t up

New links with Germany forged in 3rd Asean Purchasing Initiative

THE Ge r man- Phi l i pp i ne Chamber of Commerce and Industr y Inc. (GPCCI), in collaboration with the German Association of Supply Chain Management, Procurement and Logistics (BME) and the German chambers in Asean, are executing the German Purchasers Initiative. This project is under the market-access program of the German Federal Ministr y of Economic Affairs and Climate Action, which aims to reshape the landscape of trade between Germany and the region.

“With initiatives like this, we advance our core goal of fostering partnerships between businesses in the Philippines and Germany,” said GPCCI president Marie Antoniette Mariano. “We are thrilled to witness the growing interest and participation from both sides, and we eagerly support both German and Philippine businesses in facilitating mutual growth.”

T h e In it i at i ve was off i c i ally launched on April 22 with more than 120 participants, which marked the la rgest purc h asi ng i n it i at ive for Ger man companies seek ing new suppliers in Asean. It featured 87

suppliers and 27 buyers.

The German side emphasized the increasing demand for a diversified supply chain, and the importance of establishing reliable partnerships in the region.

“We are delighted to continue the momentum between our countries, the Philippines and Germany, following the Presidential visit in March and the resumption of the [European Union’s free-trade] agreement talks.” said Executive Director Christopher Zimmer of GPCCI about the purchasing initiative. “This helps us to further elevate the Philippines’s presence and significance on the global stage.”

Supported by the Department of Trade and Industr y, the initiative encouraged Philippine manufacturers to apply for “B2B” meetings, which will provide suppliers with opportunities to showcase their products, facilities, and expertise to German buyers. Despite the significant time difference, more than 21 meetings with Philippine suppliers have so far been running smoothly, as evidenced by the positive feedback received thus far, according to GPCCI.

30 years of Instituto Cervantes in Manila

Javier Galván ICM Director

ON May 6, 1994, He r Royal H i g h ness Infanta Elena de Bo r b ó n, accompan i ed by hi sto

THE Philippines is considering forging a bilateral freetrade agreement (FTA) with the United States on cyberspace and digital technology.

Speak ing before t he med ia in Washington, D.C., Phi l ippine ambassador to t he US Jose Manuel Romu aldez sa id t he Phi l ippines’s plan to have an FTA w it h t he US on t he two a reas is pa r t of t he two nat ions’ renewed interest to f urt her en hance t rade and econom ic cooperat ion.

“In specific areas... [for instance, in cyberspace or in digital technology]; and of course, there are many other areas that I think we can work

CEO of t h e Ca r d i ac C hi ld ren’s Fou ndat ion-Ta iwan and ped i at ric ca rd i ac aut hority Dr Jou-Kou Wang recently t raveled to t he Phi l ippi nes to t ra i n local p h ys i c i ans i n pe r fo r m i ng t r anscat heter pu lmona r y valvereplacement surgeries, hopi ng to i mprove local med ical standa rds and prov ide better ca re for k ids w it h hea r t d i sease. Pat ients w it h congenital hea r t d isease, suc h as Tet ralogy of Fallot, often have blue

cent of t hese c hi ld ren require pu lmonar y valve replacement surger y, but many have al ready undergone two to t hree open-hea r t surgeries, mak ing t hem face signif icant risks w it h anot her operat ion. The procedure allows valve replacement without surger y, reducing risks and shortening hospital stays. Dr Wang received the CSI Lifetime Achievement Award for this technique. Under his guidance, the team at National Taiwan University Child ren’s Hospital h as successf u lly treated over a hundred patients since 2015, leading in results across Asian countries.

T

with the US on having these,” Romualdez said. “The US is committed to really helping [and] looking at the Philippines as a major investment hub for many American firms.”

The ambassador shared his belief the US is more inclined to go into specific sectors for the possible agreement.

According to him, the Indo-Pacific Economic Framework for Prosperity (IPEF) meeting to be held in Manila next month would give a “clearer picture” of the direction of the economic setup of the two countries.

“But t he IPEF, whic h t he US has

sta r ted and t he Phi l ippines being ] one of t he found ing members of t hat econom ic f ramework, is looking at includ ing t he ent ire Asean,” he sa id.

The Philippine government, he told members of the media, would follow-up on the previous meeting with Secretar y of Commerce Gina Raimondo of the US, particularly on potential investors coming into the Philippines.

The Filipino diplomat added that the Philippines is also eyeing similar trade ties with Japan.

RuthAbbeyGita-Carlos/PNA

h en-new h ead qu a r te r s of t h e Inst it uto i n Man i la (ICM), i n t he Mayflowe r b ui ld i ng w it hi n t he ne i g h bo rhood of Malate, Man i la at t he i ntersect ion of Le ón Gui nto and Est r ada st r eets. T he prope r ty belonged to a Fi lipi no fam i ly of Span i sh orig i n: t he Delgados. T he Mayflowe r ed i f ice, const ru cted i n 19 3 8, h ad p r ev io u sly ho u sed t he Un ited States Agency fo r Inte r nat ional Development o r USAID, t he Embassy of Indones i a, and t h at of Spa i n. T he IC was establ i shed by “Law 7/1991.”

T hi s spec i f i ed t he f u nct ions of t he i nst it ut ion: to p r omote t he Span i sh lang u age worldw i de and to cont ri b u te, along w it h ot he r state i nst it ut ions, t he sp r ead i ng of t he c u lt ur e of Spa i n and Span i s h -speak i ng cou nt ries. T he “Inst it uto” const it utes a f u ndamental i nst ru ment of c u lt ur al d i plomacy, often r efe rr ed to as t he “flags hi p of t he Span i s h lang u age and its c u lt ur e.” T he Man i la cente r was pa r t of t he fo u nd i ng netwo r k of t he IC, w hi c h now extends to mo r e t h an 90 c it i es i n 45 co u nt ri es. L i ke ot he r s i n t h at fo u nd i ng netwo r k, t he one i n Man i la i s t he s u ccesso r of t he C u lt ur al Cente r of t he Embassy of Spa i n, w hi c h dated back to 1972.

GALVÁN

$95,000), t ra i ned Fi l ipino doctors to help t hem u se t he new tec h n ique i n t reat i ng more pat i ents w it h congen ital h ea r t d i sease. D r Wang led t he team membe r s i n pe r fo r m i ng act u al surgeries at t he Phi l ippi ne Hea r t Center (PHC). In add it ion to t reati ng t hree c hi ld ren on-site, local doctors also lea r ned and ga i ned v ital experience. Lin Zhen-bang, who is the district gover nor-elect of Rotar y District 3521, and members of the medical team that included Dr Wang, went to the PHC on May 6 and signed a contract with local representatives in the presence of Deputy Representative Deng-shi Yang from the Taipei Economic and Cultural Office (Teco) in the Philippines. The Rotar y Club of Taipei North is currently celebrating its 65th anniversar y this year as it initiates t he c ross-nat ional i nter nat ional med ical-ser v ice project t h at h as att racted pa r t ic ipat ion f rom si x countries—including 18 sister- and friendly Rotar y clubs for the Global Grant donation. Under t he global g rant: “Ca rd iac C

On A u g u st 10, 199 3 t he C u lt ur al Cente r ceased its f u nct ions as s u c h to ope r ate s i nce t hen as t he cente r of t he Inst it uto Ce rvantes. T ho u sands of Fi l i p i nos, f rom all walks of l i fe, h ave passed t hrou g h its class rooms i n ove r 3 0 yea r s of act iv ity. More t h an 3,000 st u dents take Span i s h co ur ses at t he ICM eve r y yea r In 2006, t he headqu a r te r s of t h e Inst i t u te moved to Kalaw

St r eet to a b ui ld i ng owned by t he Span i s h Cas i no of Man i la, spec i f ically des i gned to meet t he teac hi ng, c u lt ur al, and adm i n i st r at ive needs of t he i nst it ut ion. Surrou nded by u n ive r s it ies and w it h a L i g ht Ra i l Tr ans

AMBASSADOR Jose Manuel Romualdez JOYCE

ROCAMORA/PNA

DEPUTY Head of Mission Dr. Moya Collett (from left), Undersecretary Emmeline Aglipay-Villar, Investing in Women’s Hannah Birdsey, Villgro Philippines’s Priya Thachadi and Oxfam Pilipinas’ Erika Geronimo

Bulldogs complete rare ‘4-peat;’

Belen,

Ybañez

lift MVP trophies

NATIONAL University (NU)

claimed a rare “four-peat” and Lady Bulldog Bella Belen

hoisted the women’s Most Valuable Player for the second straight year in University Athletic Association of the Philippines Season 86 volleyball action on Wednesday at the Mall of Asia Arena.

Josh Ybañez also secured his second straight men’s MVP award but unfortunately for the prized recruit from General Santos City, he and the Tigers yielded to the rampaging Bulldogs, 25-21, 22-25, 25-17, 25-15, for the Jocson school’s fourth straight league title.

NU, which won the opener of the best-of-three series, 25-17, 26-24, 25-19, became the first to accomplish a “four-peat” since, intestingly, UST did it from Season 70.

“I saw in my players that they really wanted to win this,” NU head coach Dante Alinsunurin said.

Graduating spiker Nico Almendras came up with the finishing blows, putting the Bulldogs at match point with the sharpest of crosscourt kills and then hit the clincher through Popoy Colinares and Jay Rack Dela Noche as the Bulldogs wrapped up the match in one hour and 54 minutes.

The Bulldogs, which also got big games from Michaelo Buddin and Leo Aringo, led by as many as 11 points, 209, in the third set.

Sophomore outside spiker Buddin led all scorers, finishing with 28 points on 22 attacks, five blocks, and one ace to go with 16 receptions.

Aringo added 22 points on 18 attacks, three blocks, and one ace, while Almendras had 20 points in his final match in the UAAP.

Graduating playmaker Owa Retamar tossed 26 excellent sets to go with three points and was named Finals MVP for the second straight year. He had 24 excellent sets and five points in the series opener.

The Bulldogs had 16 rejections against three by the Golden Spikers.

Ybañez had 24 points, while Gboy De Vega scored 15 for UST.

Bella Belen back on top AFTER missing out on the award last season, the 5-foot-7 Bella Belen, a spiker from Quezon City, retained the MVP title after amassing 82.2 statistical points.

Belen, in her third year in the league and on her way to joining the national team Alas Women, ranked seventh in scoring in the league with 205 points from 179 attacks, 15 blocks, and 11 aces.

The 21-year-old Belen was the sixth most efficient spiker at 36.53 percent, the eighth best server at 0.22 per set, the sixth best digger at 2.3 per set, and the second best receiver with a 48.3 percent efficiency rate.

Belen led the Lady Bulldogs to a 12-2 elimination round record. University of Santo Tomas’ Angge Poyos, the Rookie of the Year, was the runner-up in the MVP race with 76.964 SPs.

Poyos ranked as the second-best scorer with 290 points from 249 attacks, 23 aces, and 18 blocks. She emerged as the third most efficient spiker at 40.75 percent and the best server at 0.41 aces/set.

Belen (300 positional points) and Poyos (285) secured the first and second Best Outside Spiker titles, respectively.

Alyssa Solomon of NU also regained the Best Opposite Spiker title with 235

UNIVERSITY’S Bella Belen is one excited Most

Terry’s forecast: 3 or more in Paris

By Josef Ramos

ATHLETICS chief Terry Capistrano expressed confidence that more than three Filipinos will be in Paris in July for the Olympics.

“I think we should get a minimum of four and probably

FROM here on out, the national volleyball teams for men and women will be called Alas Pilipinas. The Philippine National Volleyball Federation (PNVF) and Cignal TV made the joint announcement on Wednesday at the Launchpad in Mandaluyong City exactly a week before the Alas Women plunge into action in the 2024 Asian Volleyball Confederation Women’s Challenge Cup from May 22 to 29 at the Rizal Memorial Coliseum.

“We’re delighted to kickstart this new chapter for Philippine volleyball by unveiling Alas Pilipinas, our new names for the national teams both indoor and beach and for both men and women,” PNVF President Ramon “Tats” Suzara said.

“We’re humbled with the outpouring support that volleyball has garnered over the past few years and we believe that it’s high time for us to rally on one singular name for our

national teams,” Suzara added. And on cue, Alas Men’s Bryan Bagunas, Marck Espejo, Lloyd Josafat, Noel Kampton and Jau Umandal and Alas Women’s Sisi Rondina, Jia de Guzman, Vanie Gandler, Eya Laure and Dawn Macandili-Catindig were presented in the landmark event graced by MediaQuest and Cignal TV president and CEO Jane Basas, Cignal TV Vice President and Head for Channels and Content

Management Siena Olaso and PNVF vice president Ricky Palou, secretarygeneral Donaldo Caringal and national team commission head Tonyboy Liao.

“We’re proud partners of the PNVF in this noble endeavor and just like how we supported other sports, we have high hopes that we can further grow Philippine volleyball and push it to further heights,” Basas said.

The PNVF is looking at the monicker launch as a brand new start for the flourishing sport which has enjoyed

“But Cray and Brown are in the

an ascent in popularity in the country for the better part of the past decade.

The Alas Men will be put to their first test in the 2024 AVC Men’s Challenge Cup in Bahrain from June 2 to 9.

The PNVF will also enjoy expansive support from the MVP Group led by Cignal, Mwell, Smart and Meralco upon the marching orders from sports patron Manuel V. Pangilinan “every step of the way.”

Cignal will provide comprehensive coverage of the volleyball events through the various MediaQuest platforms, primarily on Cignal TV platforms including Free-to-Air and Pay TV, and on OTT thru Pilipinas Live and social media through One Sports, One News and News5.

Completing the Alas Men are

Presenting: Alas Pilipinas!

back-to-back University Athletic Association of the Philippines (UAAP) Most Valuable Player Josh Ybanez and two-time Best Setter Joshua Retamar, Nico Almendras, Joseph Bello, JP Bugaoan, Mark Calado, Chao Diao, Jade Disquitado, Menard Guerrero, Noel Kampton, Vince Lorenzo, Kim Malabunga, Leo Ordiales, Louie Ramirez, PengTaguibolos, Sherwin Umandal and Adrian Villados.

Joining Rondina and many-time Best Setter De Guzman are Julia Coronel, Casiey Dongallo, Thea Gagate, Jen Nierva, Faith Nisperos, Cherry Nunag, Dell Palomata, Fifi Sharma and UAAP MVPs Bella Belen and Angel Canino.

Brazilians Sergio Veloso and Jorge Souza de Brito are coaching the men’s and women’s teams, respectively. The Alas Men will also be honed for the country’s first-time hosting— solo—of the FIVB Volleyball Men’s World Championship next year.

Suzuki, Abalos snatch JPGT Luzon Series I victories in Splendido Taal

Rfive,” said Capistrano, president of the Philippine Athletics Track and Field Association. “Six is a tall order.” World No. 2 pole vaulter Ernest John “EJ” Obiena got his ticket to Paris as early as right after the Olympic qualifiers opened in July last year and will essentially be guaranteed two teammates—one male and one female—under the Universality Rule.

he said. Cray, a Rio de Janeiro Olympian and former Asian champion, is one rung below the top 40 cutoff in his pet event, while Brown’s at No. 41 pending her gold medal result in last week’s Philippine Open at PhilSports in Pasig City. Ubas and Knott, on the other hand, have some hard work to do, according to Capistrano.

Capistrano said the potential for Paris are John Cabang Tolentino (110m hurdles), Lauren Hoffman (400m hurdles), Eric Cray (400m hurdles), Robyn Brown (400m hurdles), Janry Ubas (men’s long jump) and Kristina Knott (women’s 200m). “Hoffman and Tolentino are almost there,” said Capistrano, referring to Tolentino’s No. 24 and Hoff-

Junior tennis tourneys get going in Kalibo, Ormoc

THE Palawan Pawnshop (PPS) tennis series serves simultaneous tournaments Thursday in Kalibo and Ormoc City with both Group 2 tournaments attracting significant number of participants. The Tamagos Cup tournament at the Kalibo 1 courts boasts of more than 200 entries led by Sandra Bautista and Maxene Panizales in the girls’ 16- and 18-and-under categories.

Volleyball over basketball?

SOLD OUT tickets. High TV ratings. Frenzied social media searches and reactions to volleyball stars. A mad search for ways to get inside arenas where amateur or professional volleyball is being played. Passionate, delirious fans who go all out for their volleyball idols.

Is volleyball replacing basketball as the national spectator sport?

Thin live audiences for the Philippine Basketball Association (PBA) has been bothering basketball aficionados. Some claim the tournament has become predictable because no matter how seemingly strong some teams may be, in the end the same strong teams dispute the championship. So many stay away. The Maharlika Pilipinas Basketball League (MPBL) has been distracting attention from the OG of professional leagues, however.

Jann Ian Ituriaga leads the boys’ field in these top two divisions.

Top contenders in the girls’ 12- and 14-and-under divisions are Theriz Zapatos and Michael Suarez, while Ciaran Alipo-on, Phine Billones and Drig Escobar are set to challenge top seed Francisco de Juan III in the boys’ 12-and-under class of the event serving as part of the PPS-Palawan Express Pera Padala circuit organized

Ubas is ranked No. 42 and needs to improve on his personal best 8.08 meters to soar past the Paris standard of 8.27 meters, while Knott’s best time of 23.01 seconds is still below the qualifying limit of 22.57.

“They have to do quite a number of competitions to remain in the qualification process,’’ Capistrano said. The qualification window closes on June 30.

by PPS of president and CEO Bobby Castro

De Juan is also vying in the 14-and-under side, which features top ranked John Rafael Santiago, Rizzjun Labindao and Alipo-on, while Abby Castigador, Kate Chavez, Arianne Tiongko and Arielle Opoc are among the key players in the youngest 10-and-under unisex division of the event sponsored by Tamagos Confectioneries.

The Kalibo tournament, originally scheduled last week, was moved to accommodate the Western Visayas Regional Athletic Association, according to event organizer Bobby Mangunay.

YUJI SUZUKI and Maurysse Abalos shone brightly in the Junior Philippine Golf Tour (JPGT) Luzon Series following thrilling victories in the 8 to 10 years old category with 79 and 95, respectively, at the Splendido Taal Golf Club Wednesday in Laurel, Batangas. Suzuki blew a six-shot lead but maintained his composure in the stretch of a pressure-packed frontside finish in another sweltering day and capitalized on Jose Luis Espinosa’s costly bogey on No. 7 to pound out a one-stroke victory in the boys’ division despite a seven-over card for a 36-hole total of 157. Espinosa made a strong comeback, narrowing the gap to four strokes with a backside start of 38 and then birdied No. 2, forcing a tie at 13-over with four holes left as Suzuki struggled with three bogeys in a four-hole stretch from the second hole.

Suzuki, however, regained the lead as Espinosa bogeyed No. 7 for the second straight day. Matching Espinosa’s pars on the last two holes, Suzuki secured the victory and, with Abalos, earned the honor of being the first champions of the JPGT series.

“It’s feels nice and it’s an honor to win in this tournament,” said Suzuki, 10. Espinosa, who bounced back from an opening 84 with a 74, ended in second place with a 158, while Kevin Tecson finished third with a 196 after a 96.

Ranking points are awarded in each leg of the series, with the top four players in the boys’ and girls’ divisions after the seven-leg Luzon swing qualifying for the JPGT Match Play Championship at The Country Club in October.

The tournament, organized by Pilipinas Golf Tournaments Inc., aims to boost the sport and discover new talents through its country-wide circuit, including three legs in the Visayas and four in Mindanao.

In girls’ division of the youngest age category, Abalos overcame a significant challenge. Despite a shaky backside 51, she pounced on Casedy Chime Cuenca’s consecutive triple bogeys from No. 1, cruising to a four-stroke victory with a 95 and a 184.

“I feel so great. It’s my first accomplishment for the year,” said the 9-year-old Abalos, a Saint Pedro Poveda student who has already claimed six championships in her young career. Cuenca finished with a 90 for a 188, while Teresa Tambunting placed third with a 194 after a 101.

In the 11-14 age division, set over 54 holes, Race Manhit continued to defy the odds, maintaining his lead in the boys’ class despite a 90 for a 171, but just a stroke ahead of Inigo Gallardo, who pressed his bid with a second straight 86 for a 172.

“The pin placements were challenging and the greens were much faster,” said Manhit, 11, who headed straight to the range to polish his driving. “I’m determined to secure the win.” Aenzo Sulaik remained in contention with a 175 despite a 91.

In the girls’ category, Precious Zaragosa stayed at the forefront with an 81 for a 155 as she seized a two-shot lead over Lisa Sarines, who carded a 78 for a 157, as Mona Sarines, the previous co-leader, dropped to third after an 84, following an earlier 74, for a 158.

We asked media experts in the University Athletic Association of the Philippines (UAAP) media room for their opinions again.

“Basketball right now is just floating. It’s neither going up nor going down. Unlike before, young [basketball] talents have their sights set on playing abroad. Local [pro] leagues do not interest them anymore,” said Peter Atencio of the Manila Standard.

“In contrast, volleyball players are getting better and better and up and coming players from the collegiate league [are showcased in the Prmier Volleyball League].

and a lot of attention is focused on both collegiate and professional volleyball, will it ride its phenomenal success and eventually overtake hoops as the national pastime?

harder to set up volleyball,” interjected Carl Pajar of the UAAP media ops team.

MAURYSSE ABALOS and Ryuji Suzuki (third and fourth from left) share the podium in the 8 to 10 years old category with (from left) Teresa Tambuting, Casedy Cuenca, Kevin Tecson and Jose Luis Espinosa

ALAS Pilipinas’s Bryan Bagunas, Marck Espejo, Lloyd Josafat, Noel Kampton, Jau Umandal, Sisi Rondina, Jia de Guzman, Vanie Gandler, Eya Laure and Dawn Macandili-Catindig with Philippine National Volleyball Federation (PNVF) President Ramon “Tats” Suzara, MediaQuest and Cignal TV president and CEO Jane Basas, Cignal TV Vice President and Head

Cignal

President and Head of Human Resources, Admin and

CAPISTRANO