BusinessMirror May 17, 2024.pdf

By Cai U. Ordinario

TBSP Governor Eli M. Remolona Jr. told reporters this may be delivered in increments of 25 basis points. This means, the maximum rate cut that is expected to be delivered by the Monetary Board is 50 basis points by the end of the year. If the BSP will cut rates by a maximum of 50 basis points, this will place key policy rates at 6 percent by the end of the year.

“ Yung 50 pang ano na yun, takot na kami sa hard landing. Pero mukha namang maliit yung probability ng hard landing, soft landing [ yan] [Cutting rates by 50 [bps] means we fear a hard landing. But it seems the probability of this happening is small, it would likely be a soft landing],” Remolona said. “Ang ano ng mga central bank, gradual eh . It would be 25-25. Pag 50 ibig sabihin malaki ang nangyari. Medyo pang hard landing na yung 50 or 75 [Central banks are inclined to cut rates gradually. It would be (in increments of) 25-25 (bps). If they will deliver a 50 (bps) cut, this means something big happened. A rate cut of 50 or 75 is for a hard landing].”

Should this happen, the BSP would be cutting its policy rates ahead of the United States Federal Reserve which is expected to deliver its rate cuts starting in September.

STILL RESISTING Transport group Manibela stages a protest against the jeepney phaseout as its members make their way to the Land Transportation Franchising and Regulatory Board (LTFRB) head office on East Avenue, Quezon City on Thursday, May 16, 2024. Authorities began Thursday the campaign to apprehend unconsolidated jeepneys as part of the transition to the pulic utility vehicle modernization program. NONOY LACZA

Investment pledges to IPAs down 63.6% in Q1, says PSA

THE national government has decided not to impose any tariffs on electric vehicles, their parts, and components until 2028, according to the National Economic and Development Authority (Neda).

In a statement on Thursday, Neda said the Neda Board, the highest policymaking body of the agency and is chaired by the President, approved the recommendation of the interagency Committee on Tariff and Related Matters (CTRM).

This was made after the CTRM's review of Executive Order No. 12 series of 2023. The order temporarily modified the rates of import duty on electric vehicles (EVs), their parts, and components under the purview of the Customs Modernization and Tariff Act.

“Executive Order No. 12 is designed to stimulate the electric vehicle (EV) market in the country, support the transition to emerging technologies,

INVESTMENT pledges made by foreigners to the country’s Investment Promotion Agencies (IPAs) contracted 63.6 percent in the first three months of the year, according to the Philippine Statistics Authority (PSA). Based on the data, Total Foreign Investment (FI) pledges approved in the first quarter of 2024 were recorded at P148.43 billion, significantly lower than the P408.22 billion approved in the same quarter of 2023.

Of the total approved foreign investments, Singapore posted the highest investment commitment of P70.06 billion or 47.2 percent. This was followed by the Nether-

lands at P38.89 billion or 26.2 percent of the total; and South Korea at P20.23 billion or 13.6 percent of the total.

PSA data showed the largest declines in foreign investment were recorded by Germany with a decline of 100 percent; British Virgin Islands, 95.4 percent; and France, 94.9 percent.

The data also showed Japan investments contracted 75.9 percent to P920.93 million while investments from the United States contracted 35.3 percent to P1.16 billion in the first quarter.

Comelec substitution ban hailed by election lawyer

ETERAN election lawyer

VRomulo Macalintal on Thursday welcomed Comelec’s announced ban on candidates substitution, projecting the move will reduce the avenues for making a mockery of elections.

Macalintal said the “Comelec should be lauded for its initiative to put an end to the unscrupulous practice of some political parties in substituting candidates until the deadline of filing certificates of candidacy [CoCs] resulting in a mockery of the elections.”

The poll lawyer lamented, in a statement sent to BusinessMirror, “it is like they are playing around with the polls and the voters.”

Macalintal suggested that “these candidates...be taught the lesson that election involves public interest and not only their political and personal interest.”

Neda…

Continued from A

reduce our transport system’s reliance on fossil fuels, and reduce greenhouse gas emissions attributed to road transport," Socioeconomic Planning Secretary Arsenio M. Balisacan said.

“By encouraging consumers to adopt EVs,

The veteran poll lawyer reacted to Comelec’s decision, announced by chairman George Garcia on Wednesday, limiting the window for “placeholder” COC filers.

Because of Comelec’s new rule, Macalintal notes that 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).

The Comelec en banc unanimously decided to approve the proposal of chairman Garcia to limit the window for such activities from October 1 to 8, 2024 only. Garcia held hopes the new policy will prevent “fronts” or “placeholder” COC filers from previous elections, who will be replaced by other candidates.

“To the candidates, lay [down] your

we are promoting a cleaner, more resilient, and more environmentally friendly transportation alternative,” he added.

The Neda Board agreed to maintain the Most Favored Nation (MFN) rate at zero until 2028 on 34 tariff lines of battery electric vehicles currently covered under EO 12.

It has also decided to expand the list of articles with reduced duty to include e-motorcycles and e-bicycles, and nickel metal hydride accumulators, and reduce the duty on these

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 sustained by SC’ ON Comelec’s latest move, Macalintal

articles to zero until 2028.

The expansion in the coverage of EO 12 also includes other types of EVs, particularly battery e-tricycles and quadricycles; and battery, hybrid EV (HEV) and plug-in hybrid EV (PHEV) jeepneys/buses. Also included in the list are HEV and PHEV cars and trucks as well as completely knocked down (CKD) EVs for all types of vehicles. The tariffs on these articles shall be reduced to zero until 2028.

said, “this action of the Comelec has been sustained by the Supreme Court in the case of Federico vs. Comelec [GR No. 199612, 22 January 2013], where the SC upheld Comelec’s authority to set a deadline for substitution as part of its constitutional mandate to enforce and administer all laws and regulations relative to the conduct of elections.”

According to the Supreme Court, setting a deadline for substitution is legally justified since withdrawal is voluntary and a candidate should have had sufficient time to ponder his candidacy, Macalintal explained. “Moreover, if a candidate withdraws after printing of ballots, the name of the substitute candidate can no longer be accommodated in the ballot and a vote for the substitute will just be wasted.”

Indeed, he stressed, Comelec’s decision “puts an end to such a nefarious political strategy employed by some politicians to suit their personal interest; and I am very happy Comelec has properly implemented it. It takes an election law practitioner in the person of Comelec Chair George Erwin Garcia to put order in our electoral processes for which he should be congratulated and admired.”

Butch Fernandez

Last week, Trade and Industry Secretary Alfredo E. Pascual said imposing zero tariffs on hybrid vehicles is “not justifiable” right now as doing so would go against government’s goal of having electric vehicles (EVs) ubiquitous in the industry.

Pascual said the objective of reducing tariffs on pure electric vehicles is to “have the critical mass of EVs to make the setting up of charging stations a feasible business, feasible operation.” (See:https://businessmirror. com.ph/2024/03/11/zero-tariffs-on-hybridvehicles-not-justifiable-this-time-dti/).

Cai U. Ordinario

Investment…

Meanwhile, the data showed approved investments posted quadruple growth from Taiwan at 523.1 percent; the People’s Republic of China, 453 percent; and Canada, 221.2 percent.

The data also showed four countries—South Korea, Malaysia, Netherlands, and Singapore— saw their approved investments exceed 1,000 percent in the first quarter of 2024.

Meanwhile, the total approved investments of Foreign and Filipino nationals reached P309.45 billion, a decrease of 35.6 percent from the P480.48 billion in the same quarter of the previous year.

Filipino nationals contributed P161.03 billion or 52 percent share to the total approved investments during the first quarter of 2024.

The data also showed approved investments of Foreign and Filipino nationals in the first quarter of 2024 were expected to generate a total of 27,711 employment.

"This indicates an increase of 8.8 percent from the 25,470 expected employment in the same quarter of the previous year. Out of the total generated employment, 23,378 [jobs] would be absorbed by foreign investment projects," PSA added.

Electricity, gas, steam and air conditioning supply industry received the largest amount of approved investments at P109.19 billion or 73.6 percent of the total approved FI.

This was followed by Accommodation and food service activities with P20.09 billion and Manufacturing with P12.62 billion, or shares of 13.5 percent and 8.5 percent, respectively.

Among the regions in the country, Calabarzon received the largest share of pledged investments at P117.39 billion or 79.1 percent of the total approved FI for the first quarter of 2024.

This was followed by Central Luzon with P23.83 billion, and Bicol Region with P2.86 billion. These accounted for 16.1 percent and 1.9 percent of the total FI, respectively.

PSA said the data came from the Board of Investments (BOI), Clark Development Corporation (CDC), Cagayan Economic Zone Authority (CEZA), Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority (SBMA). However, no foreign investment approvals for the quarter were reported by Authority of the Freeport Area of Bataan (AFAB), Bases Conversion and Development Authority (BCDA), BOI-Bangsamoro Autonomous Region in Muslim Mindanao (BOI-BARMM), Clark International Airport Corporation (CIAC), John Hay Management Corporation (JHMC), Poro Point Management Corporation (PPMC), Tourism Infrastructure and Enterprise Zone Authority (TIEZA), and Zamboanga City Special Economic Zone Authority (ZCSEZA). Cai U. Ordinario

Continued from A

Remolona said, however, that this will not significantly affect the Philippine peso. He said the one that is being monitored is not the policy rate but the forward guidance of the BSP.

Rates kept ON Thursday, the BSP decided to maintain key policy rates even as it expects inflation to slow and the economy to remain resilient.

The Monetary Board maintained the BSP’s Target Reverse Repurchase (RRP) rate at 6.5 percent. This is the fifth consecutive meeting that the Monetary Board decided to maintain the RRP.

However, BSP Governor Eli M. Remolona Jr. said in a briefing on Thursday that with a less hawkish stance, the Monetary Board is now considering a rate cut as early as August and a Reserve Requirement rate cut “goes into the agenda” once monetary policy rates ease.

“We are actually somewhat less hawkish than before, which means we could ease, cut rates Q3 or Q4 this year, so the second half of this year,” Remolona said. He added that it was possible for the BSP to cut rates by August this year. The interest rates on the overnight deposit and lending facilities also remained at 6 percent and 7 percent, respectively.

The BSP’s latest forecast showed that its risk-adjusted inflation forecast for the year eased to 3.8 percent from the initial estimate of 4 percent in the previous meeting.

The risk-adjusted inflation forecast for next year, however, rose to 3.7 percent from 3.5 percent as indicated in the previous meeting of the Monetary Board.

BSP Deputy Governor Francisco Dakila Jr. said adjustments were also made on the baseline forecast for this year and next year.

The BSP now expects baseline inflation to average 3.5 percent for 2024 from the initial 3.8 percent while the projection for 2025 was increased to 3.3 percent from the previous 3.2-percent estimate.

“As the governor mentioned, it's mostly also because of base effects. And actually, if you were to look at the factors behind the April inflation number, more than half of that is attributable to just one commodity, rice. Its not really a broadbased inflation number,” Dakila said.

“As for the upward division in the baseline forecast for 2025, we’re looking at higher crude oil prices in this forecast round. Also, nonfuel prices. And as you very well know, the peso is trading at a slightly weaker band,” he explained.

In terms of economic growth, the BSP expects the full-year growth target of 6 to 7 percent this year to remain intact despite the slowdown in household final consumption expenditure (HFCE) slowdown in the first three months of 2024.

Dakila said the expected slowdown in inflation would prop up domestic consumption, which has long been regarded as the backbone of Philippine GDP.

He noted that while inflation will remain elevated and could still breach the 2 to 4 percent target of the BSP between May and July this year, the uptick will be temporary and will not be a threat

to consumption spending and growth.

“Based on the latest GDP data, the expected path for domestic output growth over the medium term remains largely intact, even as recent indicators point to continued moderation under tight financial conditions,” Remolona said in a statement.

“The Monetary Board deems it appropriate to ensure sufficiently tight monetary policy settings until inflation settles firmly within the target range,” he added.

For his part, Rizal Commercial Bank Corporation Chief Economist Michael L. Ricafort said the BSP decision was “widely expected by the market.”

However, Ricafort said the BSP’s pronouncement on the earliest cut in rates certainly signaled a “less hawkish” BSP as this is at least one quarter earlier than what was initially expected.

“Further local policy rate pause or cut [especially in 2024] could already be possible for the coming months, as fundamentally supported by the easing inflation trend as seen recently amid higher base/denominator effects; also as a function of future Fed rate pause or cut/s [especially later in 2024]; also as a function of the behavior of the peso exchange rate, going forward,” Ricafort said.

Oxford Economics UNITED Kingdom-based Oxford Economics said if inflation cools, it shares BSP’s optimism that rate cuts would be possible by August this year.

If a cut is indeed delivered, the think tank said this would mean the BSP will cut rates ahead of the United States Federal Reserve.

“Such a scenario is not impossible if domestic inflation remains under control but it risks both higher imported inflation down the road and capital flight, especially in times of high geopolitical tensions,” Oxford Economics said.

“CPI [Consumer Price Index] data for the next three months and the second quarter GDP outcome which will be known by the August meeting will determine possible policy tweaks by the BSP,” it added.

With consumption hurting the country’s recent economic performance, analysts said the Bangko Sentral ng Pilipinas (BSP) is expected to start cutting rates as early as the third quarter.

In its latest Country Risk & Industry Research, BMI, a unit of Fitch Solutions, projects a rate cut by the Monetary Board in July when the United States Federal Reserve is also expected to cut rates.

Last week, the Philippine Statistics Authority (PSA) reported that the country’s GDP growth averaged 5.7 percent, slower than the 6.4 percent in the first quarter but faster than the 5.5 percent posted in the last quarter of 2023. (See: https://businessmirror.com. ph/2024/05/10/spending-cutbacksto-continue-say-experts/) High interest rates, BMI noted, caused a decline in investments in the first three months of the year. The tight monetary policy made borrowing costs soar. It said, however, that the El Niño is expected to affect food production, pushing commodity prices up and delaying any disinflation. (See: https:// businessmirror.com.ph/2024/05/13/ bsp-likely-to-start-cutting-ratesin-q3-analysts-project/).

Neda approves projects worth P66.37 billion

from A

The project is designed to address the urgent physical recovery needs of schools affected by natural disasters between 2019 and 2023. It covers the repair, rehabilitation, retrofitting, and reconstruction for the recovery of damaged school facilities outside Metro Manila.

The Facility for Accelerating Studies for Infrastructure (FAST-Infra) was also approved and is expected to cost P2.75 billion. The project aims to drive sustainable infrastructure development nationwide.

Neda said FAST-Infra will initially focus on the transportation sector by financing the formulation of high quality transportation master plans.

As such, it will also develop a pipeline of big-ticket transportation projects that would strengthen both national and regional connectivity.

Meanwhile, the Neda Board also approved the extension of the P24.62 billion Support to Parcelization of Lands for Individual Titling (Project SPLIT).

The project will be financed through Official Development Assistance (ODA) and implemented by the Department of Agrarian Reform (DAR) to improve land tenure security, and stabilize the property rights of agrarian reform beneficiaries.

“In line with the Marcos Administration’s agenda to modernize agribusiness and strengthen agricultural institutions, the Neda Board has approved the extension of the implementation period from January 1, 2024 to December 31, 2027 and loan validity from January 1, 2025 to December 31, 2027 for the Support to Parcelization of Lands for Individual Titling (SPLIT) Project,” the Neda said. In terms of the P8.41 billion LRT 2 East Extension, Neda said while the project was completed in 2021, the extension will help facilitate the disbursement to project contractors and consultants. The LRT Line East Extension Project includes the construction of two additional stations—the Marikina and Antipolo stations. The extension is currently operational. Cai U. Ordinario

Court proceedings delay completion of Batangas-Cavite transmission line

By Lenie Lectura @llectura

THE National Grid Corporation of the Philippines (NGCP) has filed expropriation cases against individuals who claim interest over the properties affected by the towers to be constructed for the Tuy (Calaca)Dasmariñas 230/500-kiloVolt (kV) Transmission Line and Substation Project.

NGCP filed the expropriation cases against E. M. Ramos and Sons Inc. and several other defendants before the Regional Trial Court in Dasmarinas City, Cavite. The expropriation court already issued Writs of Possession (WOP) for both cases.

NGCP said 15 of the 48 towers that are under construction are within the E.M. Ramos property, including the two tower sites that are subject of the court relocation order.

In a news conference, NGCP officials said the completion of Tuy-Dasmariñas project will be delayed for 27 months. This involves about a year for new rightof-way acquisition and roughly 15 months more for survey, procurement and fabrication of materials, and construction. The original target date completion was set in December 2024.

the matter before the appellate courts and highlights the potential consequences of relocating the two towers, namely the additional cost of relocation, and the impact of delay on the incoming generation companies that are to be connected to this facility.

The tower parts for the current route have already been manufactured, and it is unlikely that a revised route will make use of the same tower type. We will have to manufacture tower parts from scratch. There is also the matter of additional construction and right-of-way (ROW) costs.

The delay, they pointed out, may lead to additional costs to be shouldered by power consumers, as well as potential power interruptions as these legal roadblocks hamper the entry of an additional 5,215.55 megawatts (MW) in proposed generation capacity near Calaca, Batangas.

The Tuy (Calaca)-Dasmariñas 230/500-kiloVolt (kV) Transmission Line and Substation Project involves 135 towers, of which, 75 are already completed, 48 are undergoing construction, and 12 are in the process of securing WOP.

In its latest order dated April 8, 2024, the RTC ruled to reinstate the previously withdrawn Writ of Possession (WOP), but confirmed the previous order to relocate Tower 6A, and ordered the relocation of an additional tower (Tower 6).

NGCP maintains that ordering the relocation of public infrastructure under expropriation is beyond the powers of an expropriation court, unless there is a finding of fraud, bad faith, or abuse of discretion.

NGCP said it intends to raise

These additional costs must be submitted for the scrutiny and approval of the Energy Regulatory Commission (ERC) as NGCP is a highly regulated entity. Any additional cost will ultimately be borne by consumers, said NGCP.

The Tuy-Dasmariñas 230kV transmission line project has already been approved by the Energy Regulatory Commission (ERC) with an approved cost of P3.05 billion, while the Tuy 500kV Substation Project Stage 1, with an applied cost of P8.454 billion, is still awaiting ERC approval.

PSA notes slight drop in fisheries output in Q1

By Ada Pelonia @adapelonia

FISHERIES output decreased by 0.5 percent in the first quarter of the year, according to the Philippine Statistics Authority (PSA).

Data from the PSA showed that the total volume of fisheries production from January to March 2024 was 987,190

metric tons (MT), a decline from the 992,330 MT registered in the same quarter of the previous year.

“The decrease in production was noted in marine municipal fisheries, while commercial, inland municipal fisheries, and aquaculture reported increments in production during the period,” the PSA said in its latest fisheries situation report.

Production of marine municipal fisheries fell by 12.4 percent to 211,330 MT from the previous year’s 241,370 MT. The subsector’s share accounted for 21.4 percent of the total output.

During President Marcos’s Second State of the Nation Address (Sona), he announced his plan to revise the Fisheries Code which grant small-scale fishermen exclu-

sive fishing rights in coastal waters 15 kilometers from the coastline. Fishermen’s group Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya) then opposed this, saying an amendment would permit commercial fishing within the 15-kilometer fishing ground solely for small local fishers. (See: https://businessmirror.com.ph/2023/07/28/ groups-nix-reported-plan-toamend-fisheries-code/)

In the same report, PSA said commercial fisheries production went up by 10.7 percent to 188,920 MT from last year’s 170,600 MT, accounting for 19.1 percent of the total fisheries output. The inland municipal fisheries output registered a 17.6 percent to 40,550 MT from the previous year’s

estimate of 34,480 MT. This accounted for 4.1 percent of the total fisheries production. Aquaculture production recorded a 0.1 percent increase to 546,400 MT from 545,880 MT in the same period last year. This constituted the highest share in total fisheries output at 55.3 percent during the quarter.

The PSA said that of the 20 major species, output reductions were primarily noted in bali sardinella (tamban), down 29.9 percent to 39,037 MT; milkfish (bangus), 7.6 percent to 58,027 MT; threadfin bream (bisugo), 37.2 percent to 5,205 MT; blue crab (alimasag), 29.5 percent to 4,721 MT, and seaweed, 0.4 percent to 365,197 MT. Meanwhile, output gains were reported in skipjack (gulyasan), up 28.3 percent to 70,211 MT; tilapia, 8.8 percent to 109,060 MT; frigate tuna (tulingan), 29.6 percent to 20,086 MT; fimbriated sardines (tunsoy), 45.1 percent to 11,920 MT; and yellowfin tuna (tambakol/ bariles) 13.3 percent to 21,936 MT.

DPWH projects in Palawan, La Union to speed up travel, mitigate floods

By Lorenz S. Marasigan @lorenzmarasigan

THE Department of Public Works and Highways (DPWH) said on Thursday it has successfully completed two infrastructure projects aimed at enhancing connectivity and safeguarding communities in Puerto Princesa City, Palawan, and Sto. Tomas, La Union.

In Puerto Princesa City, the agency has completed the construction of a 415-meter concretepaved road in barangay Irawan, providing improved access to the spiritual site Mount Calvary.

The two-lane road that is five meters wide is expected to significantly boost tourism and ease transportation for local residents and visitors alike.

“With a total length of 415 meters and road width of five meters, the 2-lane access road is anticipated to enhance the pilgrimage experience of tourists and improve mobility for the local communities in the area,” DPWH Mimaropa (Region IV-B) Director Gerald A. Pacanan said.

Prior to the construction of the road, residents had to navigate a hazardous unpaved road, which posed risks of vehicular accidents and adversely affected livelihoods and pilgrimage activities.

Mount Calvary, a revered spiritual destination in Palawan, attracts thousands of devotees, particularly during the Lenten Season.

The P8.02-million project road ensures safer travel and aims to stimulate economic and tourism growth in the region.

Meanwhile, in Sto. Tomas, La Union, the DPWH has constructed a P48.75-million, 125-meter flood mitigation structure in barangay Cabaruan, aimed at protecting coastal communities from the adverse effects of shoreline erosion and severe weather conditions.

The project includes a drainage system to alleviate floods that have historically plagued the area.

DPWH Ilocos (Region I) Director Ronnel M. Tan said the new structure is designed to withstand strong offshore currents and wave patterns, which have previously caused significant flooding and hindered access to essential public services.

“It is reported that before the enhancement of the shoreline, the community experienced massive flooding during strong rains and inclement weather minimizing their access to essential public services,” said Tan.

NFA needs P16B to procure ’25 target buffer

THENational Food Authority (NFA), a government corporation attached to the Department of Agriculture (DA), needs over P16 billion next year to procure the country’s target volume of rice buffer stock and upgrade its storage capacity.

NFA Acting Administrator Larry Lacson said in a statement that the

proposed allocation would fund the procurement of palay from local farms and build additional storage and drying facilities to improve its buffer stocking capacity.

“NFA only has the capacity to dry 31,000 metric tons but buys around 495,000 metric tons of palay. NFA is required by law to maintain a buffer stock equivalent to about 9 days of national

rice consumption,” its statement read.

It added that the DA’s proposed budget for 2025 will earmark P24.85 billion for the NFA, a 77-percent increase from P14.03 billion this year.

The DA earlier proposed to increase its budget to P513.81 billion, double its current budget of P208.58 billion. The proposed budget would be used for big-ticket infrastructures in a bid

to achieve its goal of modernizing the farm and fisheries sectors.

With the proposed NFA budget, P9 billion will be reserved for the corporation’s NFA palay procurement, with an assumed procurement price of a maximum of P23 per kilo. However, it added the NFA Council increased the maximum purchasing price to P30 per kilo to allow the government

corporation to compete with private traders for local rice supply.

Under the Republic Act (RA) 11203 or Rice Tariffication Law (RTL), the NFA was stripped of its function of importing rice and selling it to the public, with its mandate reduced to keeping an emergency buffer stock of domestically produced rice. The RTL also removed the NFA’s

mandate to intervene in the market for price stabilization or import rice to increase the country’s buffer stock.

“Congress is still debating whether to restore the NFA’s power to import rice or stabilize prices in the market.

Some senators have suggested that the power to import and stabilize rice prices could be assigned to the DA,” the statement read. Ada Pelonia

May 17, 2024

NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S)

Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:

NO.ESTABLISHMENT

1 D SUMMIT LUMBER CORPORATION

7040, Magsaysay Road., San Antonio, City of San Pedro, Laguna

2 GLARION TECHNOLOGIES CORPORATION

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

3 HYS METAL PLASTIC AND ELECTRONICS (PHILIPPINES) INC.

J.P. Rizal Ave., Lima Technology Center, Bugtong na Pulo, City of Lipa, Batangas

4 HYS METAL PLASTIC AND ELECTRONICS (PHILIPPINES) INC.

J.P. Rizal Ave., Lima Technology Center, Bugtong na Pulo, City of Lipa, Batangas

5 HYS METAL PLASTIC AND ELECTRONICS (PHILIPPINES) INC.

J.P. Rizal Ave., Lima Technology Center, Bugtong na Pulo, City of Lipa, Batangas

6 JX METALS

PHILIPPINES, INC.

117 East Science Avenue, Laguna Technopark, Biñan, City of Biñan, Laguna

7 JX METALS

PHILIPPINES, INC.

117 East Science Avenue, Laguna Technopark, Biñan, City of Biñan, Laguna

8 KASAI ADVANCED MFG. PHILIPPINES INC.

Lot 20-C, Phase 1-A, Fpipsez, Santa Anastacia, City of Sto. Tomas, Batangas

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION QUALIFICATION AND SALARY RANGE

OUYANG, JINGXIONG Wood Waste Manager

Brief Job Description:

Manage and collaborate with other personnel responsible for enforcing waste regulations

NAW SAN Myanmari Customer Service Representative

Brief Job Description:

Manage incoming calls and customer service inquiries

XIONG, GUOWEN Purchasing Consultant

Brief Job Description: In charge of evaluating suppliers base on various criteria such as quality, reliability and compliance with industry standards

CHEN, DI Sales Consultant

Brief Job Description: In charge of devising strategies for promoting and selling products

LI, KUN

Technical Consultant

Brief Job Description: Plan and coordinate production engineering processes on daily basis to produce high quality products

MIYATA, KYOSUKE

General Manager - Engineering Department

Brief Job Description: Organize and Direct Engineering Department to meet the company Objectives

KATO, TAKAHISA

General Manager - Technical Center Department

Brief Job Description: Over-all in-charge of the company’s research and development and process engineering

MIYATA, MINEYUKI Factory Manager

Brief Job Description: Manage

Degree in wood waste management preferred

Salary Range:

Php 30,000 - Php 59,999

Able to speak, read and write Chinese and Myanmari language

Salary Range:

Php 30,000 - Php 59,999

Must have experience in manufacturing company and establish stringent quality standards

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

College graduate with experience in manufacturing

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

Must have experienced in manufacturing company and have some technical skills

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

Degree of Engineering

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

Degree on chemistry and Material Engineering

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

Covelandia

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

18 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

19 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

20 MERIT LEGEND SOLUTIONS INC.

HENY APRIANI

JENNY Indonesian Customer Service Representative

DAN ALAIN

Malaysian Customer Service Representative Brief Job Description: Manage incoming calls and customer service inquiries

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite WILLIAM TJIN WEE TUN

HTET HTET WAI Myanmari

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

24 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

25 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

26 MERIT LEGEND SOLUTIONS INC.

BUI, THI OANH

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

CAO, THI PHUONG LAN

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

DAM, NGOC THU

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite DANG THI HONG NHUNG

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

27 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

28 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

29 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

30 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

31 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

32

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

DOAN, TRONG TUAN

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HAU, VAN NGUYEN

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HOANG, QUOC VU

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HOANG, THI THAM

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HOANG, THI THUONG

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

HUYNH,

Vietnamese

Brief

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

Covelandia

Covelandia

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

40 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

41 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

KIM CHI

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

Salary

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

46 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

47 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

48 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

49 MERIT LEGEND SOLUTIONS INC.

Covelandia Road, Binakayan, Pulvorista, Kawit, Cavite

50 MITEJARI ENTERPRISE CORP.

888B, Sumulong Highway, Mambugan, City of Antipolo (Capital), Rizal

51 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

PHAN THI VINH

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

PHUNG BAO LONG

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

SAN, LY CAM

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

TRAN, KHAC HUU

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

VI, THI LINH

Vietnamese Customer Service Representative

Brief Job Description: Manage incoming calls and customer service inquiries

LEE, KUAN-TING

Purchasing Manager

Brief Job Description:

Handle procurement for better deals, cost-effective and high-quality bids abroad

6th, 7th, 9th-12th Floor, 2, San Francisco, City of Biñan, Laguna ERVINA

Foreign Customer Service Representative

Brief Job Description:

Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

52 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, 2, San Francisco, City of Biñan, Laguna NGUYEN, THI LANH

Foreign Customer Service Representative

Brief Job Description: Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

Able to speak, read and write Chinese and Vietnamese language

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

College graduate, computer literate, mandarin

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

Computer literate at least Secondary be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

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

Computer literate at least Secondary be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

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

54 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, 2, San Francisco, City of Biñan, Laguna

55 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, 2, San Francisco, City of Biñan, Laguna

TEOH HUI SIN

Foreign Customer Service Representative

Brief Job Description:

Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

YAMANE BRELAZ, FLAVIA MANUELLA

Foreign Customer Service Representative

Brief Job Description:

Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

YVONNE ONG YEE WEN

56 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, 2, San Francisco, City of Biñan, Laguna

57 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor, 2, San Francisco, City of Biñan, Laguna

58 NIPPON PREMIUM

BAKERY INC.

Lot 10, Block 2, First Philippine Industrial Park II, San Rafael, City of Sto.

59 NODA KIGATA PHILIPPINE CORPORATION

Bldg. U-6B, Lot 22B, Phase 1, First Philippine Industrial Park, Ulango,

Foreign Customer Service Representative

Brief Job Description:

Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

ZHANG, WU

Foreign Customer Service Representative

Brief Job Description:

Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

WATANABE, AYA

Senior Business and Financial Analyst

Brief Job Description:

stakeholders in decision making

KOSAKI, SHUICHI

Business Development Manager

Computer literate at least Secondary be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

Salary Range:

Php 30,000 - Php 59,999

Computer literate at least Secondary be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

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

Computer literate at least Secondary be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

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

Computer literate at least Secondary be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

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

Possess excellent analysis and creation support stakeholders in decision making

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

Brief Job Description: Create company’s business development plans With 33 years of relevant experience manufacturing industry

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

60 VENETO QUARTZ, INC.

Lot 4, First Industrial SU, LIANHUA

General Manager

Brief Job Description:

Coordinate employees and supervise and lead lower-level managers, perform market research and complex analysis of possible opportunities

Must have a bachelor’s degree with good moral character and excellent in verbal and written communications skills Chinese

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

53 NEW WAVE INFOTECH LIMITED PHILIPPINES, INC.

6th, 7th, 9th-12th Floor,

2, San Francisco, City of Biñan, Laguna SUN, YA

Foreign Customer Service Representative

Brief Job Description:

Field incoming help requests from foreign end users via both telephone and work orders in a courteous manner, consistent with company standards.

Computer literate at least Secondary be able to speak, write and read Chinese, Malaysian, Vietnamese, Indonesian or Indian language.

Salary Range:

Php 30,000 - Php 59,999

Any person in the Philippines who is competent, able and willing to perform the services for which the foreign Building II, Parian, Calamba City, Laguna, within 30 days after this publication.

foreign nationals.

Center 11th Avenue, 40th Street, Bonifacio Global City, Fort Bonifacio, City Of Taguig

6. NG HONG KIAT Senior Business Development Lead development strategies aligned with company decision-making. leading a sales focused business within Hongkong, all people under his or her leadership.

Php 150,000 - Php 499,999

C’EST LA VIE EVENT MANAGEMENT INC.

230, Narra Street, Marikina Heights, City Of Marikina

7. CHEN, BINGJIN Key Accounts Specialist Consultant clients and responsible for obtaining and maintaining long term key customers by comprehending their requirements. Can develop strong contacts and able to speak and communicate using Mandarin language.

Php 30,000 Php 59,999

14. SANJEEV KUMAR

16. WANG, TANZHI

CRONYX INC. 5-12, 15-19/f Royal Peak Tower A, 485 Quirino Avenue, Tambo, City Of Parañaque

17. WONG CHUN KEAT Chinese Speaking Admin Associate

18. LIU, XINGXIN Chinese Speaking Business Development Associate

19. ZHOU, JIAN Chinese Speaking Business Development Associate clients.

20.

CGI IT UK LIMITED INC. 2nd Floor One World Square Bldg., Mckinley Hill, Pinagsama,

Php 30,000 - Php 59,999

- Php 59,999

48. LANG, VAN TUNG them. Php 30,000 - Php 59,999

49. LE, PHAM DI KHANG them. Php 30,000 - Php 59,999 50.

57. NGUYEN, THI THANH THU

58. NGUYEN, VAN LY NGAN needed.

59. PHAM ANH TUAN

them. Php 30,000 - Php 59,999

Php

them. Php 30,000 - Php

THOI, XUAN TOAN

TO THI MY HUYEN them.

TRAN QUANG THAI

VAY THANH BINH

VU THI THUONG THUONG

VU, THI THANH THU

ZHIHONG

SHI, XIAOLONG

171. WANG, SIXI Chinese

172. ZHANG, WEIGUANG Chinese Speaking HR Associate

Managing

173. ZHU, SIQI Chinese Speaking HR Associate

Managing HR records including, résumés, applicant logs, and employee forms.

174. ZHU, TINGYU Chinese Speaking HR Associate

Managing HR records including résumés, applicant logs, and employee forms.

175. BAO, YU Chinese Speaking Program Designer maintenance and revisions.

176. BUI THI CHUYEN Chinese Speaking Program Designer

Communicate overall design and approach to a team programming team.

59,999

Have

Php 30,000 - Php 59,999

With

Php 30,000 - Php 59,999

Have excellent verbal and skills and able to organize their work using

177. CAO, YUANCHENG Chinese Speaking Program Designer maintenance and revisions. Have

178. CHEN, DAIMEI Chinese Speaking Program Designer maintenance and revisions.

179. GAO, XINXIN Chinese Speaking Program Designer maintenance and revisions.

180. HE, YANG Chinese Speaking Program Designer maintenance and revisions.

181. HUA, JIAHENG Chinese Speaking Program Designer maintenance and revisions.

182. KAM CHUNG GIN Chinese Speaking Program Designer Communicate overall design and approach to a team programming team.

183. LAI THI HANH Chinese Speaking Program Designer maintenance and revisions.

184.

Have

Have excellent verbal and skills and able to organize their work using tools.

Php 30,000 - Php 59,999

Have excellent verbal and skills and able to organize their work using tools.

Php 30,000 - Php 59,999

Have excellent verbal and skills and able to organize their work using tools.

Php 30,000 - Php 59,999

Have excellent verbal and skills and able to organize their work using tools.

Php 30,000 - Php 59,999

Have excellent verbal and skills and able to organize their work using tools.

Php 30,000 - Php 59,999

Top UN court starts 2-day hearings on Israeli Army’s Rafah incursion

By Molly Quell The Associated Press

THE HAGUE—The United Nations’ top court opens two days of hearings on Thursday into a request from South Africa to make sure Israel halts its military operation in the southern Gaza city of Rafah,

where more than half of Gaza’s population has sought shelter. It is the fourth time South Africa has asked the International Court of Justice for emergency measures since the nation launched proceedings alleging that Israel’s military action in its war with Hamas in Gaza amounts to genocide.

According to the latest request, the previous preliminary orders by The Haguebased court were not sufficient to address “a brutal military attack on the sole remaining refuge for the people of Gaza.” Israel has portrayed Rafah as the last stronghold of the militant group, brushing off warnings from the United States and other

allies that any major operation there would be catastrophic for civilians. South Africa has asked the court to order Israel to withdraw from Rafah; to take measures to ensure unimpeded access for UN officials, humanitarian organizations and journalists to the Gaza Strip; and to report back within one week on how it is meeting

these demands.

During hearings earlier this year, Israel strongly denied committing genocide in Gaza and said it does all it can to spare civilians and is only targeting Hamas militants. It says Hamas’ tactic of embedding in civilian areas makes it difficult to avoid civilian casualties.

In January, judges ordered Israel to do

all it can to prevent death, destruction and any acts of genocide in Gaza, but the panel stopped short of ordering an end to the military offensive that has laid waste to the Palestinian enclave. In a second order in March, the court said

See “Rafah,” A

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

Putin expresses gratitude to Xi for China’s initiatives to resolve the Ukraine conflict

By Emily Wang Fujiyama & Christopher Bodeen

BThe Associated Press

EIJING Russia’s Vladimir Putin expressed gratitude to Xi Jinping for China’s initiatives to resolve the Ukraine conflict at their Beijing summit Thursday where the Chinese leader said China hopes Europe will return to peace and stability soon and that China will play a constructive role.

China last year offered a broad plan for peace outlining general principles for ending the war in Ukraine, and didn’t offer new specifics on how Beijing might be prepared to engage with both sides of the conflict.

“China hopes for the early return of Europe to peace and stability and will continue to play a constructive role toward this,” Xi said, speaking alongside Putin.

Putin said he will inform the Chinese leader in detail about “the situation in Ukraine” and said “we are grateful for the initiative of our Chinese colleagues and friends to regulate the situation.”

China has significant influence as a key supporter of Russia following its invasion of Ukraine. It continues to supply Russia with key components that Moscow needs for its productions of weapons, and its purchase of Russian oil and gas has helped boost the Russian economy.

Before their remarks, the two leaders signed a joint statement on deepening the comprehensive strategic partnership between their two nations after their initial meeting. Xi said China and Russia will continue to uphold a position of non-alliance and nonconfrontation.

Putin was greeted by Xi with full military honors at the Great Hall of the People, the massive seat of the ceremonial legislature sitting aside Tiananmen Square in the heart of the capital Beijing.

In their following meeting, Xi congratulated Putin on his election to a fifth term in office and

Rafah. . .

Continued from A

Israel must take measures to improve the humanitarian situation in Gaza, including opening more land crossings to allow food, water, fuel and other supplies to enter.

Most of Gaza’s population of 2.3 million people have been displaced since fighting began.

The war began with a Hamas attack on southern Israel on October 7 in which Palestinian militants killed around 1,200 people and took about 250 hostages. Gaza’s Health Ministry says over 35,000 Palestinians have been killed in the war, without distinguishing between civilians and combatants in its count.

South Africa initiated proceedings in December 2023 and sees the legal campaign as rooted in issues central to its identity. Its governing party, the African National Congress, has long compared Israel’s policies in Gaza and the occupied West Bank to its own history under the apartheid regime of white minority rule, which restricted most Blacks to “homelands.” Apartheid ended in 1994.

On Sunday, Egypt announced it plans to join the case. The Ministry of Foreign Affairs said Israeli military actions “constitute a flagrant violation of international law, humanitarian law, and the Fourth Geneva Convention of 1949 regarding the protection of civilians during wartime.”

Several countries have also indicated they plan to intervene, but so far only Libya, Nicaragua and Colombia have filed formal requests to do so.

celebrated the 75th anniversary of diplomatic relations forged between the former Soviet Union and the People’s Republic of China after it swept to power in a civil war in 1949. Putin faced no credible opposition in the presidential race,

and, like Xi, has not laid out any plans for any potential successors.

Xi said the two countries were furthering their relationship as “good neighbors, good friends, good partners,” according to state broadcaster CCTV, echoing their

commitment to the “no limits” relationship they signed in 2022, just before Russia launched its fullscale invasion of Ukraine.

Since then, Russia has become increasingly economically dependent on China as Western sanc-

tions cut its access to much of the international trading system.

Russian state news agency RIANovosti quoted Putin as saying that Russia-China relations are “not directed against anyone. Our cooperation in world affairs today

is one of the main stabilizing factors in the international arena.”

Putin complimented Xi on his signature “One Belt One Road” initiative that seeks to build roads, See “Putin,” A

S. Korean court rejects effort to block plan that would boost medical school admissions

SEOUL, South Korea—A South

Korean court ruled in favor of the government’s contentious plan to drastically boost medical school admissions on Thursday.

A standoff between the government and doctors opposed to the plan has shaken the country’s

medical system for months. More than 10,000 junior doctors have been on a strike since February

Japan and US agree to

in protest.

The Seoul High Court rejected a request for an injunction to block the plan made by striking doctors and other opponents of the plan, which would raise the country’s medical school enrollment quota by 2,000 next year, from the current cap of 3,058.

The doctors were expected to appeal the ruling to the Supreme Court, the country’s top court.

The striking doctors represent a fraction of all doctors in South Korea, estimated to number be-

co-develop

hypersonic weapons interceptor as regional threats grow

By Mari Yamaguchi The Associated Press

TOKYO—Japan and the United States on Wednesday signed an arrangement to jointly develop a new type of missile defense system as the allies seek to defend against the growing threat of hypersonic weapons, which are possessed by China and Russia and being tested by North Korea.

The project was initially agreed between Japan’s Prime Minister Fumio Kishida and US President Joe Biden at their summit last August and reaffirmed between the leaders during Kishida’s April visit to Washington. The Glide Sphere Interceptor is planned for deployment by the mid-2030s.

Wednesday’s agreement determines the allocation of responsibility and decision-

making process, a first major step in the project, Japanese defense ministry officials said. They hope to decide on Japanese contractors and start the development process by March 2025. Hypersonic weapons are designed to exceed Mach 5, or five times the speed of sound, posing a threat to regional missiledefense systems with their speed and maneuverability. Developing interceptors of them is a challenge.

Japan’s defense ministry called it a “pressing issue” and noted that hypersonic weapons in the region have dramatically improved in recent years.

Under the arrangement, Japan is responsible for developing a part at the interceptor’s tip that separates in space to destroy the incoming warhead, as well as its

rocket motors, officials said. Japan has earmarked 75.7 billion yen ($490 million) for initial development and testing of the interceptor, according to the defense ministry.

The cost includes making components for the two companies, Raytheon Technologies and Northrop Grumman, that are developing the weapon in a competition led by the US Missile Defense Agency. One will be chosen for the project.

The MDA has estimated the cost to develop the hypersonic missile interceptor will exceed $3 billion, including Japan’s share of $1 billion.

The interceptors will be deployed on Aegis-class destroyers, like the ship-to-air Standard Missile-3 that Japan previously co-developed with the United States.

tween 115,000 and 140,000. But in some major hospitals, they account for about 30 percent to 40 percent of doctors, assisting fully qualified doctors and department chiefs during surgeries and other treatments while training. Their walkouts have caused cancellations to numerous surgeries and other treatments at their hospitals.

Officials say the plan is aimed at adding more doctors, because South Korea has one of the world’s fastest-aging popu-

lations and its doctor-to-population ratio is among the lowest in the developed world.

Doctors say schools aren’t ready to handle an abrupt increase in students and that it would ultimately undermine the country’s medical services. They say the government plan would also result in doctors performing unnecessary treatments because of greater competition. But critics argue that many doctors are mainly worried that more competition would lower their incomes.

Singapore air staff get 8 months’ salary bonus after record profits

SBy Katrina Nicholas

INGAPORE Airlines Ltd. will reward staff with a bonus payout worth almost eight months of salary, according to a person familiar with the matter, after delivering a second consecutive record annual profit.

The payout is in effect higher than Singapore Airlines’ previous year’s earnings high, which resulted in a profit-sharing bonus equivalent to 6.65 months’ pay and a maximum of 1.5 months’ salary of ex-gratia bonus related to the pandemic. Singapore Airlines declined to comment.

The city-state carrier delivered a record S$2.67 billion ($1.98 billion) annual profit in the fiscal 2023-2024 year, 24 percent higher than the year prior, according to an exchange filing Wednesday. The airline said nearterm demand for flights remains healthy

as robust appetite for travel and a buoyant cargo sector worked to offset competitive pressures, higher costs, geopolitical tensions and economic uncertainty.

Singapore Airlines benefited from a faster reopening and rebuild compared to many of its peers after Covid restrictions were lifted. Monthly passenger volumes were around 97 percent of pre-pandemic levels in March.

The windfall for Singapore Airlines’ staff mirrors the experience of employees at Emirates, which is reportedly handing workers five months of bonus after notching up a record annual profit of $5.1 billion. The Gulf carrier also paid out a similar amount last year.

Shares in Singapore Airlines rose 0.4 percent on Thursday, bringing gains this year to 4.3 percent. Bloomberg News

ports, power plants and other infrastructure connecting China to its neighbors and soaking up Chinese industrial output at a time of declining demand at home.

“Our cooperation in world affairs today is one of the main stabilizing factors in the international arena,” Putin was quoted as saying. The report made no mention of the war in Ukraine that has killed tens of thousands with no resolution on the horizon.

On the eve of the visit, Putin said in an interview with Chinese media that the Kremlin is prepared to negotiate over the conflict in Ukraine. “We are open to a dialogue on Ukraine, but such negotiations must take into account the interests of all countries involved in the conflict, including ours,” Putin was quoted as saying by the official Xinhua News Agency.

The Russian leader’s trip comes as his country’s forces have pressed an offensive in northeastern Ukraine’s Kharkiv region that began last week in the most significant border incursion since the full-scale invasion began, forcing almost 8,000 people to flee their homes.

Along with Moscow’s efforts to build on its gains in the nearby Donetsk region, the 2-year-old war has entered a critical stage for Ukraine’s depleted military that is awaiting new supplies of anti-aircraft missiles and artillery shells from the United States.

“We have never refused to negotiate,” Putin was quoted as saying by Xinhua. “We are seeking a comprehensive, sustainable and just settlement of this conflict through peaceful means. We are open to a dialogue on Ukraine, but such negotiations must take into account the interests of all countries involved in the conflict, including ours.”

Ukrainian President Volodymyr Zelenskyy has said any negotiations must include a restoration of Ukraine’s territorial integrity, the withdrawal of Russian troops, the release of all prisoners, a tribunal for those responsible for the aggression, and security guarantees for Ukraine.

China claims to take a neutral position in the conflict, but has backed Moscow’s contentions that Russia was provoked into attacking Ukraine by the West, despite Putin’s public avowals of his desire to restore Russia’s century-old borders as the reason for his assault.

Putin has blamed the West for the failure of negotiations in the opening weeks of the war and praised China’s peace plan for Ukraine that would allow Moscow to cement its territorial gains.

“Beijing proposes practicable and constructive steps to achieve peace by refraining from pursuing vested interests and constant escalation of tensions, minimizing the negative impact of the conflict on the global economy,” he had said.

Putin said a Chinese proposal in 2023, which Ukraine and the West rejected, could “lay the groundwork for a political and diplomatic process that would take into account Russia’s security concerns and contribute to achieving a long-term and sustainable peace.”

The Kremlin said in a statement that during their talks this week, Putin and Chinese leader Xi Jinping will “have a detailed discussion on the entire range of issues related to the comprehensive partnership and strategic cooperation and determine the new directions for further development of cooperation between Russia and China and also have a detailed exchange of opinions on the most acute international and regional issues.”

Speaking Tuesday in the upper house of Russian parliament, Foreign Minister Sergey Lavrov said Moscow and Beijing are “objectively interested in maintaining our lead in efforts to establish a more fair and democratic world order.”

“Russia and China aren’t alone in their efforts to reform an international system and help establish a multipolar global order,” he said.

Lavrov noted that the“duet of Moscow and Beijing plays a major balancing role in global affairs,” adding that “the Russian president’s forthcoming visit to (China) will strengthen our joint work.”

Moscow has forged increasingly close ties with Beijing as the war has dragged into a third year, diverting the bulk of its energy exports to China and relying on Chinese companies for importing high-tech components for Russian military industries to circumvent Western sanctions. Bodeen reported from Taipei. Putin.

Slovakian leader in stable but serious condition after assassination attempt

By Bela Szandelszky, Petr David Josek & Philipp Jenne

BThe Associated Press

ANSKA BYSTRICA, Slovakia Slovak Prime Minister Robert Fico was in serious but stable condition Thursday, a hospital official said, after the populist leader was shot multiple times in an assassination attempt that shook the small country and reverberated across the continent weeks before European elections.

A suspect was in custody, and Interior Minister Matus Sutaj Estok said Wednesday that an initial investigation found “a clear political motivation” behind the attack on Fico while he was attending a government meeting in a former coal mining town.

The minister did not specify what the motivation was. Fico has long been a divisive figure in Slovakia and beyond, and his return to power last year on a proRussian, anti-American message led to even greater worries among fellow European Union members that he would abandon his country’s pro-Western course.

Outgoing President Z uzana Caputova, a political rival of Fico, said Thursday that the heads of the country’s political parties would meet in an effort to bring calm. She said yesterday that the shooting was an “attack on democracy.”

The attempt on Fico’s life Wednesday came at a time of high polarization in Slovakia, as thousands of demonstrators have repeatedly rallied in the capital and around the country to protest his policies. It also comes just ahead of June elections for the European Parliament.

Fico’s government has already halted arms deliveries to Ukraine, and has plans to amend the penal code to eliminate a special anti-graft prosecutor and to take control of public media. His critics worry that he will lead Slovakia a nation of 5.4 million that belongs to NATO down a more autocratic path.

Zuzana Eliasova, a resident of the capital Bratislava, said the attack on Fico was a “shock” to the nation and an attack on democracy at a time when political tensions were already running high.

“I believe that a lot of people or even the whole society will look into their conscience, because the polarization here has been huge among all different parts of society,” she said.

Doctors performed a five-hour operation on Fico, who was initially reported to be in life-threatening condition, according to director of the F.D. Roosevelt Hospital in Banska Bystrica, Miriam Lapunikova. He is being treated in an intensive care unit.

Five shots were fired outside a cultural center in the town of Handlova, nearly 140 kilometers (85 miles) northeast of the capital, government officials said.

Slovakia’s Security Council was set to meet in the capital of Bratislava on Thursday to discuss the situation, a government office said, adding that a government meeting would follow.

Fico returned to power in Slovakia last year, having previously served twice as prime minister. He and his Smer party have most often been described as left populist, though he has also been compared to politicians on the right like the nationalist prime minister of neighboring Hungary, Viktor Orbán.

Fico’s comeback caused concern among his critics that he

and his party which had long been tainted by scandal would lead Slovakia away from the Western mainstream. He promised a tough stance against migration and non-governmental organizations and campaigned against LGBTQ+ rights.

Despite the controversy surrounding Fico’s leadership, con-

demnation of the attack came from both his allies and adversaries.

On Wednesday, Russian President Vladimir Putin sent a message to President Caputova, expressing his support and wishing the prime minister a fast and full recovery.

“This atrocious crime cannot be justified,” Putin said in the message released by the Kremlin. “I know Robert Fico as a courageous and strong-willed person. I truly hope these personal qualities will help him overcome this harsh situation.”

Josek and Jenne reported from Bratislava, Slovakia. Associated Press journalists Jan Gebert in Banska Bystrica, Slovakia, and Karel Janicek in Prague contributed.

RESCUE workers wheel Slovak Prime Minister Robert Fico, who was shot and injured, to a hospital in the town of Banska Bystrica, central Slovakia on Wednesday, May 15, 2024. Slovakia’s populist Prime Minister Robert Fico is in life-threatening condition after being wounded in a shooting

afternoon, according to his Facebook profile. JAN KROSLAK/TASR VIA AP

Senators urge $32 billion emergency spending on AI after yearlong review

By Mary Clare Jalonick

WThe Associated Press

ASHINGTON A bipartisan group of four senators led by Majority Leader Chuck Schumer is recom-

mending that Congress spend at least $32 billion over the next three years to develop artificial intelligence and place safeguards around it, writing in a new report released Wednesday that the US needs to “harness the opportunities and address the risks” of the quickly developing technology.

The group of two Democrats and two Republicans said in an interview Tuesday that while they sometimes disagreed on the best paths forward, it was imperative to find consensus with the technology taking off and other countries like China investing heavily in its development. They settled on a raft of broad policy recommendations that were included in their 33page report.

While any legislation related to AI will be difficult to pass, especially in an election year and in a divided Congress, the senators said that regulation and incentives for innovation are urgently needed.

“It’s complicated, it’s difficult, but we can’t afford to put our head in the sand,” said Schumer, D-N.Y., who convened the group last year after AI chatbot ChatGPT entered the marketplace and showed that it could in many ways mimic human behavior.

The group recommends in the report that Congress draft “emergency” spending legislation to boost US investments in artificial intelligence, including new research and development and new testing standards to try and understand the potential harms of the technology. The group also recommended new requirements for transparency as

artificial intelligence products are rolled out and that studies be conducted into the potential impact of AI on jobs and the US workforce.

Republican Sen. Mike Rounds, a member of the group, said the money would be well spent not only to compete with other countries who are racing into the AI space but also to improve Americans’ quality of life supporting technology that could help cure some cancers or chronic illnesses, he said, or improvements in weapons systems could help the country avoid a war.

“This is a time in which the dollars we put into this particular investment will pay dividends for the taxpayers of this country long term,” he said.

The group came together a year ago after Schumer made the issue a priority an unusual posture for a majority leader and brought in Democratic Sen. Martin Heinrich of New Mexico,

Republican Sen. Todd Young of Indiana and Rounds of South Dakota.

As the four senators began meeting with tech executives and experts, Schumer said in a speech over the summer that the rapid growth of artificial intelligence tools was a “moment of revolution” and that the government must act quickly to regulate companies that are developing it.

Young said the development of ChatGPT, along with other similar models, made them realize that “we’re going to have to figure out collectively as an institution” how to deal with the technology.

“In the same breath that people marveled at the possibilities of just that one generative AI platform, they began to hypothesize about future risks that might be associated with future developments of artificial intelligence,” Young said.

While passing legislation will be tough, the group’s recommendations lay out the first comprehensive road map on an issue that is complex and has little precedent for consideration in Congress. The group spent almost a year compiling the list of policy suggestions after talking privately and publicly to a range of technology companies and other stakeholders, including in eight forums to which the entire Senate was invited.

The first forum in September included Elon Musk, CEO of Tesla and owner of X, Meta’s Mark Zuckerberg, former Microsoft CEO Bill Gates and Google CEO Sundar Pichai.

Schumer said after the private meeting that he had asked everyone in the room including almost two-dozen tech executives, advocates and skeptics whether government should have a role in the oversight of artificial intelligence, and “every single person raised their hand.”

The four senators are pitching their recommendations to Senate committees, which are then tasked with reviewing them and trying to figure out what is possible. The Senate Rules Committee is already moving forward with legislation, voting on Wednesday on three bills that would ban deceptive AI content used to influence federal elections, require AI disclaimers on political ads and create voluntary guidelines for state election offices that oversee candidates.

Schumer, who controls the Senate’s schedule, said those

election bills were among the chamber’s “highest priorities” this year. He also said he planned to sit down with House Speaker Mike Johnson, who has expressed interest in looking at AI policy but has not said how he would do that.

Some experts warn that the US is behind many other countries on the issue, including the EU that took the lead in March when they gave final approval to a sweeping new law governing artificial intelligence in the 27-nation bloc. Europe’s AI Act sets tighter rules for the AI products and services deemed to pose the highest risks, such as in medicine, critical infrastructure or policing. But it also includes provisions regulating a new class of generative AI systems like ChatGPT that have rapidly advanced in recent years.

“It’s time for Congress to act,” said Alexandra Reeve Givens, CEO of the Center for Democracy & Technology. “It’s not enough to focus on investment and innovation. We need guardrails to ensure the responsible development of AI.”

The senators emphasized balance between those two issues, and also the urgency of action.

“We have the lead at this moment in time on this issue, and it will define the relationship between the United States and our allies and other competing powers in the world for a long time to come,” Heinrich said.

The Associated Press w riter Matt O’Brien in Providence, R. I contributed to this report.

A second scourge batters Brazil’s devastated south: Disinformation

By Mauricio Savarese & Gabriela Sá Pessoa The Associated Press

SÃO PAULO—While flooding that has devastated Brazil’s Rio Grande do Sul state has yet to subside, another scourge has spread across the region: disinformation on social media that has hampered desperate efforts to get aid to hundreds of thousands in need.

Among fake postings that have stirred outrage: That official agencies aren’t conducting rescues in Brazil’s southernmost state. That bureaucracy is holding up donations of food, water and clothing. One persistent rumor contends that authorities are concealing hundreds of corpses, said Jairo Jorge, mayor of the hard-hit city of Canoas.

Jorge and other officials say hidden actors behind the postings are exploit-

ing the crisis to undermine trust in government.

Ary Vanazzi, mayor of Sao Leopoldo, said many people ignored official warnings and instead heeded social media posts saying government alerts “were just politicians trying to alarm people.”

“Because of that, many didn’t leave their homes in this emergency. Some might have died because of it,” Vanazzi told The Associated Press. “Sometimes we spend more time defending against lies than working to help our population.”

Floods over the past two weeks have killed at least 149 people, and more than 100 remain missing, state authorities said Wednesday. More than 600,000 people have been forced from their homes. Brazil became a hotbed for disinformation ahead of the 2018 election won by Jair Bolsonaro. During his presidency, adversaries often found themselves

fending off digital onslaughts. The Supreme Court has since launched one of the world’s most aggressive efforts to stamp out coordinated disinformation campaigns, led by one controversial justice in particular who is overseeing an investigation into the spread of false news. He has ordered social media platforms to remove dozens of accounts.

The army was spared online mudslinging during the presidency of Bolsonaro, a former captain who is a fierce opponent of his successor, Luiz Inácio Lula da Silva. But it has become a target for far-right hostility under Lula, with social media users attacking military leaders for taking orders from the leftist president, said Alexandre Aragão, executive editor of fact-checking agency Aos Fatos.

Several videos posted online insinuate soldiers aren’t participating in rescues. Others mock soldiers’ supposed lack of equipment, using footage of a truck stuck in floodwaters. The general who leads the army’s southern command told CNN Brasil that one rumor claimed he was responsible for nonexistent deaths inside a hospital.

The army says it and local agencies deployed 31,000 soldiers, police and others to rescue more than 69,000 people and 10,000 animals and deliver tons of aid by air and boats. Brazil’s federal government announced it will spend nearly 51 billion reais ($10 billion) on recovery, provide credit to farmers and small companies and suspend the state’s 11-billion-reais annual debt service.

“These reports are disturbing, because they do not reflect reality,” the command said in a statement to the AP. “Many active military were also victims

of these floods. Many soldiers have lost their homes after the rains and remain on the front lines helping the population.”

Prodded by complaints from military brass, Brazil’s government is appealing to social media platforms to stop the spread of misinformation, Attorney General Jorge Messias said in an interview.

As of late Tuesday, all had expressed willingness to cooperate—except X, according to Messias’ office. The platform’s owner, Elon Musk, recently railed against a Supreme Court justice’s decisions to restrict users’ accounts, accusing him of muzzling free speech and drawing praise from Bolsonaro and his allies. X didn’t immediately respond to an e-mail requesting comment.

Messias’ office also filed a lawsuit against a social media influencer who claimed that a single businessman—and staunch Bolsonaro supporter—dispatched more aircraft to aid rescue efforts than the entire Brazilian air force. The government is demanding the right to reply on the Instagram profile of the influencer, Pablo Marçal, an outspoken critic of Lula with nearly 10 million followers.

The swarm of disinformation at a time of crisis amounts to a “tragedy within a tragedy,” Messias said. “When we stop everything to respond to fake news, we’re diverting public resources and energy away from what really matters, which is serving the public.” Nearly one-third of people surveyed by pollster Quaest reported they were exposed to false news about the floods, according to the poll conducted from May 2-6. Conducted in 120 cities nationwide, it had a margin of error of 2.2 percentage points. Disinformation is creating a hostile

environment for aid workers. Locals have accused state and municipal agents of acting too slowly and threatened to expose them online, and yelled at firefighters over reports they’d failed to rescue people and pets, according to the mayors of Sao Leopoldo and Canoas. Some people pretending to be volunteers entered a warehouse of the state’s civil defense agency last week, filming aid donations inside and posting video online as supposed evidence of its failure to distribute the aid, according to the agency.

Last week, another falsehood contended authorities were halting trucks with donations, said Aragão. It was fueled by broadcaster SBT’s story about a truck stopped for inspection that, despite being overloaded, was later released. Social media posts distorted that report and claimed aid stoppages are a widespread phenomenon. The case was demonstrative, Aragão added.

“When there is a tragedy with the dimensions of what happened in Rio Grande do Sul, of course there will be isolated cases of absurd things,” he said by phone from Sao Paulo. “Social media sells those real and isolated cases as though they represent official protocol.”

Janine Bargas has been working nonstop on the disaster as a professor at the Federal University of Health Sciences of Porto Alegre in the state capital. Initially, her duties included providing reliable information, such as telling people where they could find needed medication.

Misinformation became so intense that her job now includes monitoring and debunking it. That has included recommendations for a bogus preventive treatment for a waterborne bacterial disease.

ALPHABET CEO Sundar Pichai speaks at a Google I/O event in Mountain View, California on

May 14, 2024. AP/JEFF CHIU

US says Gaza Strip pier project is completed, aid to soon flow as Israel-Hamas war rages on

By Lolita C. Baldor

The Associated Press

ASHINGTON—The US military

Wfinished installing a floating pier for the Gaza Strip on Thursday, with officials poised to begin ferrying badly needed humanitarian aid into the enclave besieged over seven months of intense fighting in the Israel-Hamas war.

The final, overnight construction sets up a complicated delivery process more than two months after US President Joe Biden ordered it to help Palestinians facing starvation as food and other supplies fail to make it in as Israel recently seized the

key Rafah border crossing in its push on that southern city on the Egyptian border.

Fraught with logistical, weather and security challenges, the maritime route is designed to bolster the amount of aid getting into the Gaza Strip, but it is not considered a substitute for far cheaper land-based deliveries that aid agencies say are much more sustainable. The boatloads of aid will be deposited at a port facility built by the Israelis just southwest of Gaza City and then distributed by aid groups.

US troops will not set foot in Gaza, American officials insist, though they acknowledge the danger of operating near the war zone.

Heavy fighting between Israeli troops and Palestinian militants on the outskirts of Rafah has displaced some 600,000 people, a quarter of Gaza’s population, U.N. officials say. Another 100,000 civilians have fled parts of northern Gaza now that the Israeli military has restarted combat operations there.

Pentagon officials said the fighting in Gaza wasn’t threatening the new shoreline aid distribution area, but they have made it clear that security conditions will be monitored closely and could prompt a shutdown of the maritime route, even just temporarily. Already, the site has been targeted by mortar fire during its

construction and Hamas has threatened to target any foreign forces that “occupy” the Gaza Strip.

The “protection of US forces participating is a top priority. And as such, in the last several weeks, the United States and Israel have developed an integrated security plan to protect all the personnel who are working,” said Navy Vice Adm. Brad Cooper, a deputy commander at the US military’s Central Command. “We are confident in the ability of this security arrangement to protect those involved.”

US troops anchored the pier at 7:40 a.m. local time Thursday, the military’s Central Command said in a statement, which

stressed that none of its forces entered the Gaza Strip.

“Trucks carrying humanitarian assistance are expected to begin moving ashore in the coming days,” the statement said.

“The United Nations will receive the aid and coordinate its distribution into Gaza.”

It wasn’t immediately clear which U.N. agency would be involved.

Israeli forces will be in charge of security on the shore, but there are also two US Navy warships near the area in the eastern Mediterranean Sea, the USS Arleigh Burke and the USS Paul Ignatius. Both ships are destroyers equipped with a wide range of weapons and capabilities to protect Ameri-

can troops off shore and allies on the beach.

Aid agencies say they are running out of food in southern Gaza and fuel is dwindling, which will force hospitals to shut down critical operations and halt truck deliveries of aid. The United Nations and other agencies have warned for weeks that an Israel assault on Rafah, which is on the border with Egypt near the main aid entry points, would cripple humanitarian operations and cause a disastrous surge in civilian casualties.

The Associated Press writer Jon Gambrell in Dubai, United Arab Emirates, contributed to this report.

Embracing science: WHO, US FDA affirm safety of GMO foods

THE recent decision by the Court of Appeals to revoke the permit for the commercial planting of genetically modified (GM) crops in the Philippines has ignited a heated debate on the safety and future of genetically modified organisms. While the court’s ruling emphasizes the need for scientific consensus and the application of the precautionary principle, it is essential to consider the extensive research and regulatory frameworks that support the safety of GMOs. (Read the BusinessMirror story: “Genetically engineered food crops on trial,” May 12, 2024).

The United States Food and Drug Administration (US FDA), a prominent regulator y authority, has affirmed the safety of GMO foods. “R igorous studies have been conducted to ensure that GMOs do not have any adverse effects on human health GMO foods are as healthful and safe to eat as their non-GMO counter parts. Some GMO plants have actually been modified to improve their nutritional value,” the agency said.

One notable example of the potential benefits of GMOs is the development of Golden R ice. This genetically engineered rice variety, enriched with betacarotene (vitamin A), has the potential to address vitamin A deficiency and save numerous lives. VAD affects millions of children worldwide, and Golden R ice offers a promising solution. Reputable institutions like the Rockefeller Foundation and the Bill and Melinda Gates Foundation have supported the research and development of Golden R ice. After two decades of careful study and evaluation, the Philippines granted a permit to commercialize the variety tailored to the countr y’s specific needs.

However, the recent court decision has halted the commercialization of Golden R ice and Bt eggplant, another genetically engineered crop. The court’s argument cited the absence of scientific consensus on the safety of GM crops, invoking the precautionar y principle. W hile caution is crucial, it is important to recognize the existing stringent biosafety regulations and the relative safety of GMOs compared to conventional crops.

The Philippine regulator y system, previously considered a model for the region, has been diligent in ensuring the safety of GM crops. Dr Gabriel O. Romero, from the Philippine Seed Industr y Association, said the adoption of Bt corn has positively benefited the countr y for over two decades. The decision to halt the commercialization of GM crops sends mixed signals to farmers who have been seeking high-quality seeds to improve their livelihoods.

Dr Eufemio T. Rasco Jr., an academician at the National Academy of Science and Technology, explained that no technology is entirely risk-free. The goal of ongoing research is to minimize risks and ensure that the probability of harm is lower than that of conventional farming practices. Regulators assess the relative safety of GMOs compared to non-GMO alternatives, recognizing that the benefits can include higher yields and increased resistance to diseases and pests. Advocates for GMOs argue that ensuring food security is a critical component of economic growth GM crops have the potential to address challenges such as malnutrition, crop diseases, and environmental sustainability. Obstructing the adoption of such technologies can hinder progress and limit the benefits they offer W hile it is crucial to address concerns and promote transparency, it is equally important to base decisions on scientific evidence and a balanced assessment of risks and benefits. The court’s decision should prompt a renewed focus on fostering dialogue between stakeholders, including scientists, policymakers, and environmental groups. However it is important to note that the World Health Organization, the National Academy of Sciences, and several other major science organizations across the globe have reviewed research on GMOs and have found no evidence that they are harmful.

The Philippines is facing significant challenges in providing safe and nutritious food to a growing population. GMOs offer a potential solution, but their acceptance and implementation require careful consideration. By embracing a balanced approach that combines scientific rigor regulator y oversight, and a commitment to ongoing research we can harness the benefits of GMOs while addressing concerns and ensuring a sustainable and secure future for food production.

BusinessMirror

Cabangon

T. Anthony C. Cabangon

Getting out of the low-wage-low-productivity trap

FLABOREM EXERCENS

OR the longest time, the Philippines has been caught in a lowwage-low-productivity trap. Our stagnant industrial and agricultural sectors have remained stuck at Industry 2.0/3.0 level while our neighbors in East Asia (China, Japan and South Korea) and in Southeast Asia (Indonesia, Malaysia, Singapore, Thailand and Vietnam) are sprinting forward using Industry 4.0/5.0 technology and knowhow. And yes, wages and incomes of Filipino workers have remained at woefully subsistence level.

The job-full and welfare-boosting industrial transformation that our economic planners have been project i ng and prom isi ng i n t he Philippine Development Plan under various administrations, from Ferdinand Marcos Sr onward, has failed to materialize. Obsessed with their “comparative advantage” theorizing, our economic planners have been banking on the relative cheapness of skilled and malleable Philippine labor as the best come-on for foreign investors to come into our shores and create jobs for the unemployed. A number of investors did come in but not at the quantitative and qualitative level hoped for by our

economic planners. No sustained industrial transformation. No agricultural modernization. No massive creation of good-paying quality jobs for the many.

Take the case of the garments industr y. Garments investors came in the 1970s and for a while put the Philippines on the global garments map. But sta r t ing in t he 1990s, these investors began withdrawing from the countr y because it is more profitable to go in countries where labor is not only equally cheap but also where quality textiles and raw materials are readily available. As a result, employment in the Philippine garments industr y has shrunk to

So how can the Philippines get out of the low-wage-low-productivity trap? The effort of both houses of Congress in proposing a P100-P150 across-the-board minimum wage increase should be seen not only as a response to stagnant wages. It should also be tied to the need for Philippine industries to climb the higher rungs of the industry, technology and skills ladders of development.

around 100,000 or less today compared to over a million reported in the 1980s.

Yes, we also used to have a textile industr y. But this industr y, partly a product of Japanese war reparations in the 1950s-1960s, was not mobilized by the government to have productive partnership with the exportoriented ga r ments industr y. T he textile industr y went kaput in the 1980s-1990s because of the failure of the industr y to modernize as well as due to unexplainable government policy of allowing imported textiles, sewing materials and second-hand clothes to flood the domestic market without any restrictions. With both the garments and textile industries gone, the whole countr y has now become an archipelago of “ukay-ukay

retailing shops. T he above patter n of g rowthnow-decline-later in the garments and textile industries mirrors what has happened in other segments of our manufacturing sector, where investors simply rely on the availability of cheap labor and do nothing to scale up production by investing on technology, value chain development, linkage development with other industries, and yes, skills upgrading of the managerial and rank-andfile work force. It is a low-wage-lowproductivity trap that has kept the country at a low level of development, bypassed by our fast-modernizing neighbors.

It is time for the countr y’s economic planners to adjust their econom ic lenses and re-t hi nk t heir simplistic “comparative advantage” theorizing, which says that cheap labor is a magnet for more investments and more jobs. Histor y tells us it does not work that way.

Now, how do we get out of the lowwage-low-productivity trap? By raising wages? Obviously not this simple. Automatically raising wages does not automatically lead to higher productivity and sustainable development. R ising wages should accompany rising productivity and rising industrial-technical base of the economy. All the ladders wage See “Ofreneo,” A

Moral politics in the Philippines: Some economic analysis

B. Resurreccion, Dennis D. Estopace

R. Calso

Ruben M. Cruz Jr.

Eduardo A. Davad

Nonilon G. Reyes

D. Edgard A. Cabangon

Benjamin V. Ramos

Aldwin Maralit Tolosa

Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor

817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com www.news.businessmirror@gmail.com

THE word “moral” relates to principles of right and wrong behavior and the goodness or badness of human character. In his 2017 book, Professor Wataru Kusaka presented the transformation of Philippine interest politics, centered on resource distribution, into moral politics grounded on the perception of what is right and wrong. Kusaka said this politics would advance its cause by identifying morally acceptable premises of a “we” and constructing a morally despised “other.” What follows is my own reflection after reading what appears to be Kusaka’s deep observation of Filipino politics.

contractual ser v ice workers in the for mal sectors of the economy, and low-sk i lled workers overseas. Instead of communities of urban industrial and ser vices salar y workers, we have a hodgepodge community of the urban poor as their social class identity, their “we” that started in the 1970s and has become larger today. How Phi l ippi

division of returns between labor and capital. T he Phi lippine labor force communities today have become less u nderstood t h an t he si mple d ichotomies above as the economy transfor med. A typical urban poor community is composed of contractual construction workers, informal ser v ice workers on-their-own,

r y’s conglomerates por tfolio mirror t he st ruct ure of t he mac roeconomy w it h la rge ownership i n ut i l it ies, telecoms, bank i ng, a ir t ranspor tat ion, real estate, malls and tollways all of whic h a re non-t radable. T he sh a re of i ndu st ri al manu fact uri ng is a t i ny f ract ion. The Philippine economy generated two large communities of urban poor informal and contractual workers, and middle-class professional wor ke r s, i nclu d i ng p rofess ional workers overseas. A community of middle-class professionals living in urban enclaves interspersed (termed by UC sociologist Marco Garrido) with the urban poor communities. The middle-class social identity reflects the principles and discipline of liberalized markets in the formal sectors of the economy including that of high-end ser vices sectors where the local conglomerates operate. In retrospect, what followed immediately after the EDSA 1 revolution in 1986 was the restoration of democratic institutions and the start of liberal market reforms. It was enough to grow the non-tradable ser vices sector, but not to the stagnant industrial manufacturing and lethargic agriculture. In the professional eyes of civil society crusaders, it is how bad the past Marcos dictatorship has done. In the subjective eyes of the urban poor and vulnerable groups, Edsa 1 has not delivered, period. No amount of book writing about the martial law period can change the emerged politics of resentment of the “we” against the “other.” Kusaka pointed out in the 2010 elections, 42.08 percent of votes went to Noynoy Aquino, while 41.67 percent went to Erap Estrada and

EAGLE WATCH

Joselito T. Sescon

Dr. Rene E. Ofreneo

Sue Klebold’s reckoning as a mother

IMAGINE being 50, married with two sons, living a seemingly idyllic life in Littleton, Colorado and having a fulfilling career helping those in need. Then, in an instant, your world shatters in the wake of the tragedy that is Columbine. This was the tragic reality for Sue Klebold in 1999.

Twenty-five years ago, Sue’s perfect life unraveled when her second son, Dylan, along with his friend Eric Harris, committed a horrific act of violence at Columbine High School. T hey murdered 12 st udents and a teacher before taking their own lives, leaving a community reeling and the nation in shock. All told, 15 lives were lost (including the per petrators’), and 24 were left injured in the worst mass shooting at that time. Days following the murder-suicide, thousands paid their tributes to the victims in multiple events. Sue held a quiet funeral for her son Dylan, with only 15 other family members. She did not just mourn the death of her son; she also grappled with the enormous guilt due to the innocent lives damaged/lost caused by her son’s horrific actions.

It would be hard to imagine being in her shoes in the aftermath of the tragedy: she had questions about what could have gone wrong with Dylan. She was questioned by authorities on her and her husband’s accountability. She also asked herself where she failed as a mother amid the unrelenting global news coverage of the massacre. The guilt, the relentless media scrutiny, and the societal scorn—it was a maelstrom of emotions no parent should have to endure.

Advised by their lawyers to stay out of the public eye for five years, Sue and her husband retreated from the social scene and lived a relatively quiet life. That didn’t mean indifference the Klebolds, just like the victims’ relatives, were also suffering.

Grief cou ld manifest in many ways, and for Sue, it took the form of breast cancer two years after the tragedy, and she subsequently suffered from panic attacks.

The cataclysmic and conflicting emotions first hit her stratosphere when her husband advised her that Dylan was identified as one of the per petrators of the then-ongoing mass shooting in his school. Sue said, “I remember thinking, if Dylan is hurting people, I prayed that he would die. Don’t let him hurt anybody.” Her prayers were answered by Dylan himself at 12:08 on April 20, 1999 when he committed suicide with Eric Harris after the mass shooting.

Sue chose to stay in the same community after the incident, sur-

Eagle Watch. .

. continued from A

Manuel Villar who both campaigned a pro-poor populist platform. This is besides the widespread sympathy following the death of former President Cor y Aquino, and the perceived corruption of the outgoing Arroyo administration.

Globalized and liberalized markets favored professionals but obviously did not favor the poor and vulnerable workers. Since the market mechanism d id not generate well-paying, productive jobs for the less-educated workforce, they clamor for state action and inter vention (although clarity is an issue) and invoke their moral right as a community.

And what did he die of?

A mother’s love knows no boundaries, but Sue’s story is a stark reminder that tragedy can strike anyone. Love is essential, but vigilance and open communication are equally crucial.

rou nded by her suppor t system, including her friends and work colleagues. She admits that what Dylan did had changed her life profoundly.

Dylan’s actions cast a long shadow. The tragedy fractured her 43year marriage in 2015, leaving her and her ex-husband dealing with the burden in different ways. Said she: “There was nothing we had in common. Except for the shared tragedy. But we didn’t feel the same way about it or process it the same way.”

In 2016, defying the advice of her ex-husband and another son Byron, Sue published the book “A Mother’s Reckoning: Living in the Aftermath of Tragedy”. She accepted inter views, including the one with Diane Sawyer of ABC News, which could be watched on Youtube.

In her inter views and talks, she made painful admissions, including her failure as a parent or mother, her fears of being confronted by the victims’ relatives and her dread of being asked by members of the public how she could not have known what was going on with her son.

T hese days, Sue is channeling her pains and experiences to a new pur pose in life: raising awareness about depression and suicide. She is no longer quiet about the fact that she is Dylan’s mother, and she does not hesitate to talk about what she could have done to prevent the Columbine tragedy.

S he closed one of her talks w it h t hi s message: “Here’s somet hi ng I’ve lea r ned. If love were enou g h to stop someone who i s suic idal f rom hur t i ng t hemselves, suic ides wou ld ha rdly ever happen. But love i s not enou g h T he t r ag ic fact i s t h at even t he most v ig i lant and responsible of u s may be u nable to help. But for love’s sake, we mu st never stop t r y i ng to know t he u nknowable.”

A mother’s love knows no boundaries, but Sue’s stor y is a stark reminder that tragedy can strike anyone. Love is essential, but vigilance and open communication are equally crucial.

This implicates the two groups’ differing moral views of the role of the political state. The poor communities engaged in a continuing political bargain with local and national populist state leaders to ease the indignities suffered given the precarity of their livelihood and living spaces.

The middle class, in turn, spurned traditional and populist politics as vulgar and dirty, and created civil soc iety g roups as organ i zat ional venues of their “principled politics.”

The diverging moral politics of the two social classes, largely magnified in social media, then overrides economic resource-based politics.

Mr. Joselito T. Sescon is Assistant Professor at the Department of Economics of Ateneo de Manila University.

WHEN a person dies, what question do we immediately ask about his death? Not by what rubrics of good faith did he conduct his life. Not about those he has left behind. Not even his full name or the status with which he has transitioned this life on earth. It is what caused his death. It is the ailment that brought him to breathe his last.

T h at i n our sojour n, we desire to h ave t hi s c h ange not only of abode but also of t he physical appea r ance. Last week, I was t ravel i ng f rom Neg ros Occ idental to Neg ros Oriental. In t his advent ure, I passed

Ofreneo

. . . continued from A

ladder productivity ladder and industrial ladder—should go together Below are three illustrative cases of the happy blending of the three ladders.

First case: enactment of the original minimum wage law in 1951 This piece of legislation was vehemently opposed by elite members of Philippine Congress when it was for warded by the Office of President Elpidio Quirino. They argued that establishing a minimum daily wage rate of P4 when the average industr y wage in Manila was around P2 daily would kill business and flatten further the war-torn economy. And yet, the minimum wage law was passed. This was mainly due to the pressures of the US Embassy, which crafted the law and which passed this on to the Philippine government as part of a US-supported soc i al-econom ic refor m agenda. W hy did the Americans push for the minimum wage law? The answer is political: the Philippines then was in danger of falling into the hands of the Communists. In 1949-1950, a Huk uprising was threatening to overrun Malacanang and the American Cold Warriors were worried the Philippines would be the next red” countr y in the Asia-Pacific after China, where Mao Tse Tung’s Red Army successfully seized power Did the economy collapse in the 1950s due to the implementation of the minimum wage law? It did not. Instead, t he opposite h appened. President Quirino and Central Bank Governor Miguel Cuaderno used the politico-economic crisis of 19491950 to launch a rapid industrialization program by curbing imported finished goods and promoting “new and necessar y industries.” One outcome of this import-replacing industrial development was the rapid expansion of the economy throughout the decade of the 1950s so much so that the World Bank, in the early 1960s, concluded that the Philippines was second to Japan in Asia’s march towards industrial ization.

by t he c ity of Bago. For t hose who h ave gone t hrough t his same t rip, the city welcomes you f rom Bacolod by way of a forked road. A cemeter y g reets you f rom t h at side. Deat h and d irect ions were t he t heme of my movement. Memor y t hen came to play a big role i n t his d iscourse. Bago Bago I muttered to myself. T hi s i s me aga i n contend i ng w it h t he vocabu la r y be hi nd t he name of a place, t he mean i ng of cer ta i n words. Cou ld t hi s be t he name of a plant t he leaves of whic h cou ld be cooked? Ver y muc h l i ke t he B u yo and its leaves. T he once u sef u l Betel plant, g r ac i ng t he mout h of our g r andpa rents, t he spit f rom t he ir concoct ions t he color of whic h was remembered by t hose who l ived duri ng t h at e r a. But my pe ror at ion d id not stop t here; I h ad to tell my fellow t r avelers about a g r and-au nt who d ied becau se of ba go leaves. Appa r ently, t h e sa i d leaves cou ld be delectable when cooked but a re d i ff ic u lt to d igest. T hi s g rand-au nt h ad i nd igest ion by eati ng muc h of t hose leaves t h at were t hen made i nto a del icacy, a v i and. T h at n ig ht, t hen, as people were f i ll i ng up t he ir hu ge, old hou se, t hey were regal i ng eac h ot her w it h how del ic iou s ba go leaves cou ld be.

Senate President Gil Puyat hailed the industrial transformation of the 1950s-1960s for creating a new class of Filipino industrialists and a new work force possessing manufacturing skills.

As to the implementation of the minimum wage, the elite opposition died down naturally. In fact, a Central Bank sur vey showed that the average industrial wage even sur passed the minimum wage in the mid-1950s. Credit for this goes not only to the success of the Quirino-Cuaderno industrial development program but also to the capacity of a new generation of union leaders to negotiate for higher wages. The passage in 1953 of the Industrial Peace Act, another US-inspired legislation, recognized the rights of workers to form unions and engage in collective bargaining with their employers. Second case: Singapore’s wage increases in 1979-1984. In t he 1970s, Si ngapore was a favorite destination of Filipinos hunting for cheap clothes and other household needs. L i ke t he Phi l ippi nes and other Southeast Asian countries, Singapore was then engaged in labor-intensive production based on relatively cheap labor

In the 1980s, the Lee Kuan Yew government felt Singapore should break out of the Southeast Asian pattern of low-wage-low-productivity development. In 1979-1984, Singapore’s National Wage Council (NWC) launched a “corrective wage policy,” prodding industr y to increase wages by 12 percent, which was followed by a whopping 15 percent wage increase recommendat ion. T he NWC explained that higher labor cost would force Singapore employers and foreign investors to go into high-value and higher-technology business development. Prime Minister Go Chok Tong, in a budget statement issued in March 1981, justified the corrective wage policy as follows:

It was becau se when t he f riends of t he sa id g r and old lady came to pay t he ir last respect, t hey felt t he i mper at ive to ask : wh at d id she d ie of ? S he over ate t he d i sh of ba go leaves. I do t hi nk we shou ld put a stop to t his manner of inquisit ion about t he deat h of a person beloved or not. Let u s not honor t he d i sease; let u s celebr ate deat h itself, t he gloriou s t r ansit ion t h at manages to put t he world i n e qui l ibriu m. T hink of it t hat way : what wou ld happen to your l ife if your neighbor who tells you t he spec i f ic amou nt (bloated) she spends on designer bags (fake) when

count r y, Singapore d id not l imit itself to exhorting employers and foreign investors get out of the lowwage-low-productiv ity patter n of business development. T he NWC and Economic Development Foundation played an active role in researching and advising industr y on how investments could be rechanneled and how industrial restructuring could be achieved. Singapore even set up a Skills Development Fund to help in the upgrading of the skills of managers and workers in industries undergoing restructuring.

Third case: China’s high-wagehigh-tech industrial transformation. In the decades of the 1980s and 1990s, China embraced globalization and immediately became the world’s leading exporter of a vast array of cheap personal items and household products churned out by industries utilizing cheap and abundant labor The transformation of China as the global exporter of labor-intensive products was achieved with a lot of help from cooperating American, European and Japanese multinational investors.

However, at the turn of the millennium, it became clear that Deng Hsiao Ping’s moder ni zat ion program envisioned a China ultimately becoming equal, if not superior to the West in high-tech and capitalintensive development. To achieve this, Deng’s successors pressed the big provincial governments, especially in the job-rich coastal areas, to issue a series of minimum wage increases so that China can get out of the low-wage-low-productivity trap. As a result, real wages in China, per documentation by the International Labor Organization, increased at an unbelievable 896 percent between 2000 and 2021.

Today, China is competing headto-head with the United States in high-tech industrial development, which is at the roots of the ongoing US-China trade conflicts. Shenzen, a major garments producer in the 1990s, has been transformed into a glittering science and high-tech city that rivals the Silicon Valley of America.

Way forward for the Philip-

E-mail: titovaliente@yahoo.com

pines? Now how should the Philippines get out of the low-wage-lowproductivity trap? In the cases of Singapore and China above, the cor poratist or aut horitarian gover nment played a pivotal role in pushing industries to shift industrial production to a higher level of development, with the high-wage policy ser ving as a powerful tool in inducing the shift in industrial production. In the Philippine minimum wage law experience of 1951, the pressure to make a wage-industr y change came from the American advisers; however the change succeeded because President Quirino and CB Governor Cuaderno launched an aggressive import-replacing industrialization program, with the government providing allout support to “new and necessar y” Philippine industries. So how can the Phi lippines get out of the low-wage-low-productiv ity trap? T he effor t of both houses of Congress in proposing a P100-P150 across-t he-boa rd minimum wage increase shou ld be seen not only as a response to stagnant wages. It shou ld also be tied to the need for Phi lippine industries to climb the higher rungs of the industr y, technology and skills ladders of development. But since the countr y is under a liberal democratic setting, the best way to make the shift to highwage-high-i ndu st r y development happen is for the countr y’s social pa r tners gover nment, industr y, t rade u n ions, fa r mers organ i zations and civ i l society g roups to sit down and engage in productive social dialog ue on how to make the shift happen.

It is high time for the Philippines to get out of the low-wage-low-productivity trap that has deterred industrial progress and impoverished workers for five decades! (N

Tito Genova Valiente ANNOTATIONS

Recto open to pension fund buyout of govt SCTEx share

By Reine Juvierre S. Alberto

FINANCE Secretary Ralph G. Recto has expressed interest in having state-run pension funds buy out the government’s shares in the Subic-Clark-Tarlac Expressway (SCTEx) in order to generate more revenues.

in t he SCTEx, but is not biting yet until the amount is rev ised upwa rd. (See: https://businessmirror.com.ph/2024/05/10/ mptc-offers-to-buy-out-govtstake-in-sctex-but-bcda-notbiting-yet).

BCDA President and C hief Executive Off icer Joshua M. Bingcang sa id t hat BCDA wants “more” t han P20 bi ll ion for t he gover nment and for t he publ ic. Recto sa id t hat t he gover nment is better off sell ing t hose sha res to ra ise non-tax revenues.

projects worth ₧66.37 billion

THE Nat ional Econom ic and Development A u t h o ri ty (Neda) Boa rd, c ha ired by t he President, approved projects wor t h P66. 37 bi ll ion in its meet ing on Wednesday. In a statement, Neda sa id t he projects were approved at t he 16t h meet ing of t he Neda Boa rd, t he highest pol icymak ing body of t he agency. Approved were

8%

TRANSACTIONS

PHL DEEMED FRAUDULENT

sters,” Daware said.

“As data breaches continue to pose a threat to sensitive or confidential information across various industries in the Philippines, fraudsters could possibly leverage synthetic identities assembled in large part using credentials

TransUnion

the final financial transaction stage, which had a rate of 1.2 percent.

This stage usually involves activities such as purchases, withdrawals, and deposits, which typically take place towards the end of a customer’s journey.

“This rise in suspected Digital Fraud in the account login and creation stages of the consumer journey may represent a paradigm shift of sorts among fraud-

Henry Empeño

Editor: Jennifer A. Ng

By VG Cabuag @villygc

CONGLOMERATE San Miguel Corp. (SMC) said its income in the first quarter plunged by 50 percent to P8.88 billion from the previous year’s P17.73 billion on foreign exchange losses.

said its revenues rose 13 percent to P392.7 billion from the previous year’s P346.72 billion on the good performance of its spirits, food, power, fuels and infrastructure units, which reported significant volume growth due to higher demand.

“SMC’s pe

dent and CEO Ramon S. Ang sa i d. San Miguel Food and Beverage Inc. posted an income of P10 billion, flat compared to last year on lower beer sales. Revenues were up

FILINVESTDevelopment Cor p. (FDC), the holding firm of the Gotianun Group, said its attributable income in the first quarter grew 36 percent to P2.9 billion from P2.2 billion last year FDC attributed its financial results to strong contributions from its power, bank ing and proper ty businesses.

Total revenues and other income rose by 28 percent to P26.4 billion, the company said.

The banking and financial services accounted for 36 percent of FDC’s bottom line, contributing a net income of P1.2 billion to the group, followed by the power subsidiar y which contributed P1 billion or 29 percent of total.

The property business, which consists of the real estate and hospitality segments, posted a combined P741 million or 21 percent of total, while the balance of 14 percent came from other businesses.

“We are pleased with the strong f inancial resu lts during the f irst quarter We will push to maintain the momentum as we strive towards the fulfillment of our long-term goal of sustained growth in earnings,” FDC President and CEO R hoda A. Huang said.

EastWest Bank delivered a net income contribution to the group of P1.2 billion in the first quarter, 6 percent higher than the same period last year On a standalone basis, net interest income of the bank increased by 34 percent to P8.2 billion, supported by the 19-percent expansion in lending activities led by credit cards, auto, personal and salar y loans.

T h e powe r s u bs i d i a r y, FDC Ut i l it ies Inc. (FDCUI), repor ted a 65 pe rcent s ur ge i n net i ncome to P 1 bi ll ion, d riven by hi g he r -t h anexpected ene r gy sales vol u me as well as i nc reased ope r at ional plant eff i c iency.

A2 percent to P95.4 billion from the previous year’s P93.18 billion. Its food business sustained topline growth with consolidated sales reaching P43 billion, up 2 percent, d riven by higher volumes across most segments. San Miguel Global Power Holdings Cor p. saw a 7-percent increase in consolidated revenues to P44.12 billion from last year’s P41.12 billion. This was under pinned by the 71-percent increase in off-take volumes with Meralco and a new retail electricity supplier of Limay Power Plant.

Operating income jumped 17 percent to P8.84 billion from the previous P7.57 billion. Net income ended lower at P1.5 billion, weighed by foreign exchange loss of P1.4 billion, a reversal of last year’s first-quarter gain of P3.7 billion. Without the recognized net foreign exchange loss/gain after tax impact in the first quarter of 2024 and 2023, net income would have grown by 15 percent to P2.7 billion, the company said.

Petron Cor p. reg istered a 16-percent g rowt h i n net i ncome to P3.9 bi llion across all business segments i n its Phi l ippi ne and Malaysi an operat ions, bri ng i ng consol idated sales volu me to 35. 3 m i ll ion ba rrels, 23 percent higher t h an t he f irst qu a r ter of

Malaysi a. The cement business, which includes Eagle Cement Cor p., Norther n Cement Cor p. and Sout her n Concrete Industries Inc., reported consolidated revenues of P9.27 billion, a 10-percent decline from last year’s P10.34

All units of its 405MW FDC Misam is plant were f u lly cont racted, fac i l itated by t he energ i zat ion of t he M i ndanao-V i sayas i nterconnect ion project i n t he second h alf of 2023

Its plant in Misamis Oriental in Mindanao ser vices a diverse customer base composed of mostly triple A distribution cooperatives from the VisMin region, and a retail electricity supplier FDCUI also has solar energy solutions through a 60:40 joint venture with Engie, one of the largest power generators and distributors in the world.

The Filinvest Group likewise has an interest in water through FDC Water Utilities Inc., a wholly owned subsidiar y of FDCUI.

FDC’s real estate business, composed of listed subsidiaries Filinvest Land Inc. and Filinvest Alabang Inc., contributed a total of P704 million in net income, 17 percent higher than the previous P600 million.

SENIOR lawmaker has joined the opposition to the advanced renewal of the franchise that Congress has given to power distribution utility Manila Electric Co. (Meralco), warning that Meralco may suffer the same fate as Sonshine Media Network Inc. (SMNI).

Surigao del Sur Rep. Johnny Pi mentel, v ice c h a ir man of t he Hou se Leg islat ive Franc hise Comm ittee, called on Meralco to answer allegat ions of f r anc hi se v iolat ions as some Hou se members move to renew t he ut i l ity’s f ranc hise four yea rs a head of its expirat ion, or i n 2028 yet. Pimentel echoed the appeal made previously by a colleague, Sta. Rosa City Rep. Dan Fernandez who asked the House to carefully review the Meralco franchise before acting on it.

He said Meralco must first answer the issues raised against its practices before any renewal is considered.

During a recent committee hearing, he questioned Meralco’s ownership transition from the Lopez family to the group of billionaire Manuel V. Pangilinan.

The ownership change took place in 2009, but 25 years later, Congress has not been formally informed of the process. The law granting the Meralco franchise passed by Congress was for the then-Lopez company.

The growth was led by the 24-percent i mprovement i n resident i al sales to P3.6 billion from accelerated construction progress of its projects and the strong performance of medium-rise condominiums. Mall and rental revenues rose by 4 percent to P2.billion from higher mall occupancy and foot traffic.

Hotel operations under Filinvest Hospitality Cor p. (FHC) added P37 million to FDC net income as the recover y of domestic tourism supported the increase in occupancy and room rates across all the operating properties namely, Crimson in Alabang, Boracay, and Mactan; Quest in Cebu, Clark, and Tagaytay; and Timberland Highlands in R izal.

FHC’s portfolio has approximately 1,800 rooms across seven hotels in seven cities and five regions under the Crimson and Quest brands. Additionally, it features two worldclass 18-hole golf courses situated in Mimosa, Clark. VG Cabuag

“Did you seek per m ission f rom Cong ress for a c h ange of ownership? Pi mentel asked Meralco.

Meralco Director Ray Espinosa responded that no permission was sought, claiming there was “no change in controlling interests,” which he argued meant no congressional approval was required.

Pimentel, however deemed this failure to seek Congress’s permission illegal,” comparing it to a similar situation with SMNI, which also failed to declare its change of ownership to Congress. SMNI is required by the law that granted its 25-year franchise, Republic Act (RA) 11422, to declare and seek approval from Congress for any ownership change.

The same mandate, Pimentel said, applies to RA 9209, the law that granted Meralco its franchise, which would expire in 2028.

Espinosa acknowledged the change in Meralco’s ownership, noting that between 2009 and 2012, the Lopez family’s stake was reduced to 33.4 percent after selling shares to Pangilinan’s First Pacific Group. By 2012, their stake was further reduced to 3.95 percent. Currently, First Pacific, through Beacon Electric Asset Holdings Inc. and Metro Pacific Investment Cor p., holds 45.46 percent of Meralco shares. Jovee Marie N. Dela Cruz

By Lenie Lectura @llectura

THE Nat ional Grid Cor por at ion of t he Phi l ipp i nes (NGCP) said anci llar y service (AS) rates are likely to go up by over P0.10 per kilowatt hour (kW h) following the partial lifting of the suspension on reser ve market (RM) settlements imposed by the Energy Regulator y Commission (ERC).

AS is a pass-through charge and NGCP does not derive any earnings or compensation from AS transactions as these are revenue of the power gener ators prov id i ng AS, whether it is procured through contracting or RM.

The ERC, in an order, allowed the settlement of 30 percent of the total power reser ve trading amount for the W holesale Electricity Spot Market (WESM) trading transactions based on capacities offered in the RM covered by the March billing period. Hence, there will be an increase in the AS rates in May 2024 billing period.

“This will result in more than 10 centavos per k ilowatt hour,” said NGCP’s Revenue Management Department head Ryan Datinggaling in a press briefing on Thursday.

Based on simulations, the projected partial payments could reach P1,723,163,667.02, representing 30 percent of the total reser ve trading amount for March which has reached P5,743,878,890.06.

The upward adjustment will be reflected in the distribution utilities’ (DU) bills to their consumers.

W hen sought for comment, the Manila Electric Co. (Meralco) said it has yet to make a final computation of the transmission component of an electric bill.

“W hile we have yet to determine the actual rate impact, this will be reflected in the ancillar y ser vices component of the transmission charge in the June bills. For the overall adjustment, we still have to consider the

movement on the generation charge which is still the single biggest rate component.

I would like to reiterate that passthrough charges for generation are paid by Meralco to power suppliers and for transmission to NGCP and Meralco does not earn from these charges,” said Meralco spokesperson Joe Zaldarriaga said.

ERC Chair person Monalisa Dimalanta said the partial lifting of the suspension could possibly lead to upward adjustments in transmission charges, which represents roughly 3.5 percent of the total electric bill.

The RM ushers in the trade of power reser ves, or ancillar y ser vices, in the WESM. These can be immediately tapped in cases of sudden power interruptions. The Department of Energy (DOE) earlier said the reser ve market would ensure that NGCP had “sufficient levels of reser ves” that may be dispatched “whenever needed.”

NGCP is the buyer of the power reserves. Prior to the launch of the reser ve market, reser ves were secured through contracts with ancillar y service providers. These contracts are submitted to the ERC for approval. In its website, the NGCP said there is a “ huge difference” in the contingency reser ve between t he costs under AS procurement agreement (ASPA) versus AS RM.

“For comparison with the Contingency Reser ve Average Price, the Contingency Reser ve under ASPA is at P1.54/kW h, P1.46/kW h, and P1.31/kW h for Luzon, Visayas, and Mindanao, respectively. ASPA prices are significantly lower than that of the prices under the Reser ve Market. With the high amount of Cont ingency Reser ve in t he Market, significant increase in Contingency Reser ve Rates were passed-on to the transmission customers, i.e., Luzon-508.92 percent, Visayas-320.28 percent, and Mindanao-173.95 percent,” NGCP said.

Maynilad’s blue bond

issue gets SEC’s nod

By VG Cabuag @

THE Securities and Exchange Commission (SEC) has approved the P15 billion offering of blue bonds by Maynilad Water Ser vices Inc.

During an en banc meeting, the SEC approved the registration statement of Maynilad covering up to P12 billion of fixed-rate, peso-denomi-

Banking&Finance

DBM allots ₧87.632M for NTA’s ops

By Reine Juvierre Alberto

THE Department of Budget and Management (DBM) announced having allocated P87.632 million to the National Tobacco Administration (NTA) to reinforce its support to the tobacco sector.

A statement issued by the DBM read that on May 9, Budget Secretar y Amenah F. Pangandaman approved the release of Notice of Cash Allocation (NCA) for the NTA’s secondquarter requirement. Accord i ng to t he DBM, it ex-

blue activities. Blue bonds refer to a subset of green bonds and sukuk whose proceeds w i ll exclusively be used to f inance or ref inance new and/or existing eligible blue projects and activities. Eligible blue projects are classified into several categories, including sustainable fisheries management, sustainable aquaculture, wastewater management, and marine and offshore renewable energy that do not harm marine ecosystems, among others. The bonds will be offered at face value from May 27 to 31, in time for listing at the Philippine Dealing and Exchange Cor p. on June 7, according to the latest timetable submitted to the SEC. Maynilad has tapped BPI Capital Cor p. as the sole issue manager for the offer BPI Capital will also act as joint lead under writer and joint book ru nner toget her w it h BDO Capital and Investment Cor p., First Metro Investment Cor p. and East West Banking Cor p.

By Joel R. San Juan @jrsanjuan1573

THE Regional Trial Court (RTC) of Taguig City has sentenced to reclusion perpetua or to a maximum of 40 years in jai the matriarch of the Maute terror group, which was responsible for the bloody Marawi siege in 2017 and several other terrorism activities in Mindanao.

In a 39-page decision, Taguig RTC Branch 266 presiding Judge Marivic Vitor held that the prosecution was able to establish beyond reasonable doubt the guilt of accused Ominta Romato Maute for violation of Section 4 of Republic Act (RA) 10168 or “The Terrorism Financing Prevention and Suppression Act of 2012.” Aside from the jail term, Ominta was also ordered by the trial court to pay a fine of P500,000. In a statement quoting Justice Secretar y Jesus Crispin C. Remulla, the Department of Justice (DOJ) welcome Ominta’s conv iction, say ing that the decision is a “big win” in the countr y’s fight against terrorism.

“We will never let terrorism prevail nor let it sow fear among our people,” Remulla said. The DOJ chief also praised the DOJCounter-Terrorism and Terrorism Financing Task Force led by Senior Deputy State Prosecutor (SDSP) Peter L. Ong for the successful prosecution of the case.

Om i nta, also known as Fa rh ana Maute, has been tagged as a high-value target” terrorism financier

Based on the information filed before the trial court, Ominta allowed her vehicle, a Toyota Innova to be used by her four sons namely, Mohammad K hayam Romato Maute, Omar K hayam Romato Maute, Abdullah Romato Maute, Mahater Romato Maute along with a certain Najib C. Pundug, who were all involved in terrorism activities.

The same vehicle was used to kidnap

pects the NTA to use the funds for its operational needs, which will be sourced from 40 percent of the balance of collections from specific taxes on locally-made Virginia-type cigarettes and tariff duties on imported leaf tobacco.

T he allocat ion is in l ine w it h

Section 5 of Republic Act 4155, as amended by Section 3 of RA 5447, after setting aside shares for local government units (LGUs) and the Bureau of Internal Revenue (BIR), the DBM noted.

“We understand that agriculture is part of the backbone of our economy. For this reason, our government ensures that ever y segment of our agricultural landscape receives the support and resources it needs to thrive,” Pangandaman was quoted in the statement as saying.

T he DBM h as aut hori zed t he appropriation of P550.504 million for the fiscal year (FY) 2024, which was already released with allotment through Special Allotment Release Order

Of this amount, the DBM added

that P175.276 million has been issued a corresponding NCA to fulfill the requirements for the first quarter The tobacco fund for Fiscal Year 2023 amounted to P550.504 million, which was fully released last year the DBM added.

To recall, President Ferdinand R. Marcos Jr appealed to the BIR and the Bureau of Customs to ramp up their efforts in curbing tobacco and vape products smuggling to protect the countr y’s local tobacco industr y.

In the 6th Private Sector Advisor y Council-Ag ricu lture Sector Group (PSAC-ASG) meeting in Malacañang on May 8, PSAC-ASG called on the DBM to release the funds prescribed under RA 4155 to support the NTA’s “Sustainable Tobacco Enforcement Program.”

A government-owned and government-controlled cor poration attached to the Department of Agriculture, the NTA oversees and regulates the growth and development of the tobacco industr y. According to Tabacalera Incorporada, the origin of the tobacco industr y in the Philippines dates to 1592, “when the Spanish Galleon San Clemente brought 50 kilos of Cuban tobacco seeds to the countr y.” “T he seeds were spread, along w ith the Catholic faith by friars, who found that the crop flourished best in the Cagayan Valley in the prov ince of lsabela. With a climate ver y simi lar to Cuba’s Vuelta Abajo reg ion, lsabela soon hosted a large tobacco-g row i ng i ndu st r y.” (See https://tabacalera.com.ph/pages/our-history)

Virtus Awards: Excellence, Innovation and Collaboration

IWAS pleasantly surprised to be invited in the recent launch of the 10th Virtus Awards of the Hotel Sales and Marketing Association (HSMA).

Established by HSMA in 2014, the award ceremony had the theme, “A Decade of Distinction.” The Virtus consists of three individual awards and one institutional award. T he individual awards are for outstanding sales and marketing associate, outstand ing sales and marketing manager, and outstanding sales and marketing leader while the institutional award is for the most outstanding marketing campaign of the year Researching on what drives associations to give out awards to their members and stakeholders, I took note of the following:

1. Celebrating excellence. Awards ser ve as a spotlight, illuminating the remarkable contributions and ac hievements of ind iv idu als and organizations within the association. By acknowledging the dedication, creativity, and expertise of members, associations honor not only the recipients, but the collective spirit of endeavor that propels their communities for ward. Each award bestowed becomes a testament to the shared pursuit of excellence and the enduring impact of collaborative effort.

Recogn it ion becomes a power f u l i ncent ive, i nspiri ng members to st rive for g reatness, push bou nda ries, and sur pass t heir own expectat ions. Awa rds also ser ve as a cor nerstone of engagement w it hi n assoc i at ions as t hey re i nforce a sense of belong i ng where ever y cont ribut ion is valued and ever y ac hievement is celebrated.

several individuals on April 4, 2016 in Lanao del Sur Two of those who were kidnapped identified as Salvador Janubas and Jaymart Capangpangan were beheaded by the group.

On July 29, 2016, government authorities intercepted the said vehicle and recovered several improvised explosive devices (IEDs) inside the vehicle.

T he operation led to the arrest of the Mautes and the subsequent f i ling of charges against them. Ominta was charged w ith terrorism f inancing for “know ingly, w i llf u lly and unlawf u lly mak ing ava i lable t he Toyota Innova reg istered under her name to known terrorists and members of a terrorist g roup”

The trial court held that the prosecution was able to prove the presence of the elements to be conv icted of the offense of financing of terrorism, which includes: the willful intention of Ominta to provide or make available a property and that the property, in full or in part made available are to be used to carr y out the commission of any terrorist act by a terrorist group or by an individual terrorist.

“After a judicious review of the records and evidence of this case, the Court finds that the prosecution was able to prove the elements of the crime of terrorism financing,” the ru ing stated.

The trial court noted that Ominta admitted in her testimony that her sons Omar and Abdullah have established the terrorist group Dawlah Islamiyah Ranao or ISIS Ranao.

“Evidently, the Toyota Innova was made available to be used to carr y out or facilitate the commission of a terrorist attack committed by a terrorist organization, in this case, the Maute Terrorist Group and/or ISIS Ranao,” the ruling said.

The trial court has ordered the forfeiture of the subject vehicle in favor of the government and the immediate destruction of the IEDS recovered.

2. Nurturing motivation and engagement. W hen members a re acknowledged and celebrated for t he ir cont ribut ions, it i gn ites a spa rk of mot ivat ion t h at reverberates t hroughout t he assoc i at ion.

By Butch Fernandez

@butchfBM

ABILL providing the State the means to crack down on financial scammers was passed on second reading by the Senate on Wednesday, with an amendment that also targets transnational syndicates involved in human trafficking.

Sen. Mark A. Villar, chairman of the Committee on Banks, Financial Institutions and Currencies, steered the passage of Senate Bill (SB) 2560 or the Anti-Financial Account Scamming Act (Afasa) on second reading. VIllar thanked his colleagues for supporting the measure that authors hope would decisively blunt the operations of fast-growing scammers targeting financial accounts.

T he landmark legislation was approved after Villar accepted the amendment introduced by Deputy Minority Leader Ana Theresia “R isa” N. Hontiveros and which seeks to address transnational scamming syndicates that usually operate on human trafficking victims.

“I also believe that we have to help human trafficking v ictims... we have to give them additional support. That’s why I accept the amendment of our distinguished senator,” Villar said.

The senator thanked Senate Minor-

THE Court of Tax Appeals (CTA) has granted the petition by ousted Chief Justice Maria Lourdes

3. Fostering a culture of appreciation. Awards not only honor indiv idual achievements, but also cultivate a culture of appreciation w it hi n assoc i at ion commu n it ies. By publicly acknowledging and applauding the efforts of members, associations communicate a profound message: that ever y contribution, no matter how big or small, is integral to the collective success of the community.

4. Driving innovation. Beyond their symbolic significance, awards play a pivotal role in driving innova-

ity Leader Aquilino Martin “Koko” dlL. Pimentel III for his last minute individual amendment, noting Pimentel’s “ invaluable inputs in refining this bill.” Villar also introduced amendments to Senate Bill 2560 as proposed by Senate President Pro Tempore Lorna Regina “Loren” B. Legarda and Senators Francis Joseph “Chiz” G. Escudero and Sher win T. Gatchalian.

At Monday’s plenar y session, Villar thanked Escudero and Gatchalian “for helping refine this important piece of legislation, as well as the assistance and guidance of the Senate secretariat, the office of the deputy secretar y for legislation and the office of the Majority Leader Joel Villanueva.”

T he Afasa is designed to address problems of online fraud. It aims to preser ve the trust of the public in online and digital finance transactions and boosts further the digital trade by providing not only the appropriate sanctions but also the authority and power to concerned government agencies to prevent fraud.

In late March Afasa under went the period of interpellation at the Senate and was successfully defended by Villar the bill’s principal sponsor

He justified the strong and urgent push for the bill.

“With the emergence of new forms

Cui-David, the CTA’s Special Second Division held that the BIR’s final tax assessment against Sereno was invalid as it was done in violation of her right to due process. “Further respondent is enjoined and prohibited from enforcing the collection of the subject deficiency taxes during the pendency of this case,” the CTA said. The case is expected to be appealed by the BIR before the CTA en banc and thereafter before the Supreme Court. The CTA held that the BIR issued the final assessment “without any consideration of the factual and legal arguments and evidence” contained in Sereno’s reply to the agency’s preliminar y assessment notice (PAN). The tax court noted that Section 228 of the National Internal Revenue Code of 1997 or the Tax Code mandates BIR to inform the taxpayer in writing of

tion within associations. By showcasing exemplar y achievements and best practices, these awards ser ve as guideposts, inspiring members to emulate success, embrace innovation, and raise the bar for excellence within their respective fields. Awards ser ve as benchmarks against which members can measure their progress and growth spurring continuous improvement and a relentless pursuit of excellence.

Recogn it i on, l i ke t h e V ir t u s Awards, plays a crucial role in reinforcing positive behavior and promoting a cu lture of appreciation within associations where professionals converge to advance their fields and passions. These accolades hold a profound significance, not merely as tokens of achievement, but as catalysts for fostering a culture of excellence, innovation and collaborat ion w it hi n assoc i at ion communities.

of scamming like phishing, vishing, and smishing, our laws must keep up with the dynamic changes of the digital environment. We are proposing the Afasa to ensure that there will be legislation that is specifically directed against scammers who utilize financial accounts.”

Villar also explained the difference between the Afasa and the existing laws on digital transactions, particularly the Anti-Money Laundering Act (AMLA) of 2001.

During the interpellations, it was also resolved that the Afasa is complementary to the AMLA.

“Punishable offenses under the Afasa will now be considered as predicate offenses punishable by the AMLA. I concur that European Law deems money muling activities and money laundering synonymous. However that is not yet the case for our jurisdiction,” Villar noted. He elaborated then Presently, scams must first be established as a form of swindling before invoking the application of the law. This is how the new scams like smishing, vishing, phishing and now quishing are thriving. With the advent of advanced technology, fraudsters can now easily and successfully consummate their nefarious acts, even after an account owner receives and clicks a seemingly harmless link absent any in-

In Roman mythology, Virtus is a personification of virtue, excellence, and strength and is often portrayed as a powerful and dignified figure embody ing t he highest ideals of community. W hat an apt name for an award that HSMA has come up! The Virtus Awards is co-presented by the Department of Tourism and Tourism Promotions Board, with the support of Atlantis, Crimson Hotel Filinvest City Manila, and Lanson Place Mall of Asia, Manila. Judging will be on August 24 while the announcement and presentation of winners will be on October 11, 2024. For more information, visit https:// hsma org.ph.

Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” The views he expressed herein do not necessarily reflect those of BusinessMirror. E-mail: bobby@ pcaae.org.

ducement from the sender.”

T he Afasa, however removes the “need to establish that these scams are forms of swindling under the AMLA, since the law clearly defines the manner how money muling and social engineering schemes are committed, making them predicate crimes already,” Villar had said.

On why the Afasa is still needed despite existing laws on cyber security, Villar explained the central focus of the Afasa, which is preser vation of the integrity of financial accounts by preventing their use in fraudulent activ ities, such as using money mules.

The Afasa also grants the Bangko Sentral ng Pilipinas (BSP), “the limited authority to examine and investigate individual financial accounts used in the commission of crimes defined under the proposed measure. Further existing laws on secrecy of bank deposits and data privacy do not apply to financial accounts subject to the investigation of BSP.”

“Our financial institutions, particularly the BSP will have the authority and power to act on suspicious transactions without having to undergo the complex process of securing the identity of the involved accounts as prescribed by the bank secrecy laws,” Villar said of the need for authority that Afasa will give to the BSP

“The right to be heard, which includes the right to present evidence, is meaningless if respondent can simply

ment notice (FAN) dated November 5, 2018, Sereno was still assessed of the same deficiency income without answering any of the arguments raised in her reply to the PAN.

Octavio Peralta

Association World

Adieu, Sofitel Manila

Los Angeles Times tinyurl.com/ye2yy2d5

TODAY’S HOROSCOPE

By Eugenia Last

promote your desired lifestyle. Pressure tactics won’t work, but premium products and offers will.

Build momentum; you will want to continue once you start. Get the energy flowing and see what happens. The people you attract and the opportunities you develop will pave the way to success if you respond quickly.

Take it easy, be a good listener and don’t offer personal information that someone can use against you. Focus on your responsibilities and finish what you start to avoid being judged harshly by someone trying to outmaneuver you.

Engage, experience what life offers and spend time with someone who makes you think. A change to how or what you pursue will be influenced by who you are with and what you do next. Gather information and use your skills to accommodate what’s trending.

If something doesn’t feel right, take a pass. Don’t be coerced into being a follower. Put your energy into self-improvement, heading in a beneficial direction or walking away from negativity and interference.

Stand your ground until you get what you want. Initiate change that will improve your relationships. Evaluate your position personally, financially and professionally, and adjust your lifestyle to fit the circumstances. Romance is on the rise.

You are changeable, curious and ambitious. You are innovative and dynamic.

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit/Andrian

CREATIVE POWERHOUSES BRING TO LIFE BALLET MANILA’S ‘ANG TATLONG KWENTO NI LOLA BASYANG’ BALLET Manila once again unearths the magical baul of Lola Basyang as it transports its audience to a world of fantastic dance, music and spectacular visuals with Ang Tatlong Kwento ni Lola Basyang, set to happen at Aliw Theater on May 18 at 5 pm.

The second show among the repertoire for Ballet Manila’s 26th Performance Season, titled Ballet Masterpieces, Ang Tatlong Kwento ni Lola Basyang is based on the retellings of Severino Reyes’ stories by Christine Bellen Ang. Published by Anvil Publishing, the three stories are an engaging mix of romance, adventure and comedy, touching on such universal themes as loyalty and commitment to family, the power of humility and, of course, love conquers all.

Ang Tatlong Kwento ni Lola Basyang will then unfold with the first story, Ang Prinsipe ng mga Ibon which tells the tale of a princess who wishes to marry her beloved bird against her father’s disapproval. In the end, the princess decides to turn into a beautiful bird to join her beloved bird who happens to be a prince in his kingdom.

From the soaring magic of enchanted birds, the production moves on to focus on the dark ramifications of greed in Ang Kapatid ng Tatlong Maria which tells the story of a couple who are folk healers, thanks to the leaves of a magical tree that their three daughters would pick every morning. Because of the couple’s greed, they were punished by the serpent living in the tree, taking their three daughters to marry them off to beastly animals. The couple soon had another child, this time a son, and before the father’s death, he requested his son to look for his three sisters.

Completing the creative powerhouse for this final tale is the late award-winning Filipino ballet dancer Tony Fabella, whose amazing choreography reaffirms his belief that, while the story is easy enough to understand, audiences will have a deeper appreciation for the beautiful message of Ang Mahiwagang Biyulin if told through ballet. True enough, theatergoers must prepare to be enthralled by the performances of Gerardo Francisco Jr./Anselmo Dictado as Rodrigo and John Ralp Balago/Junmark Sumaylo as Ahab.

All performances will be staged at Aliw Theater, Pasay City. For tickets, visit www.ticketworld.com.ph.

More information about Ballet Manila is available at www. balletmanila.com.ph.

NEW K-POP SURVIVAL SHOW

‘FANPICK’ AIRS ON HALLYPOP THIS

Nora on ‘Bona’: Triumphant and vindicated

I“Magandang hapon po ko lang po yong sulat galing kay na may ari po ng na taga Siya po ang bumili ng ng Bona na kanilang ni Ang Bona po ay ipapalabas nila sa ngayong May po pag napili po sa

Bona Bona

Sa lang po sila may sa po ako pa rin po ang may ari ng ng Bona. ’Yong sa hindi pa po pinag-uusapan

“Dear Nora, we’re happy with picture, color, and we also restored the sound, to have the best element.

We are doing new French and English subtitles. And also working on the promotional material: poster, press dossier.”

“As you know, our goal is to launch ’s new restoration at the upcoming Cannes Film Festival. We submitted it to the comité, the reactions were very good, and they really love the

CANNES KICKS OFF WITH A PALME D’OR FOR MERYL STREEP AND A POST-’BARBIE’ FÊTE OF GRETA GERWIG

,

global “idol-making project” hosted by Super Junior’s Leeteuk. The program brings together trainees from all over the world to get the chance to debut in a boy group directly produced by global fans. Seventeen boys were picked to undergo the idol survival show. The seven winning members will get to debut as members of PICKUS. FanPick which means fans choose their own stars, is a new idol creation project that allows fans and contestants to select their first members through direct interaction. This is unlike fan participation in existing idol auditions, which was close to a simple popularity vote.

The trainees will create a dream idol group that fans imagined through direct voting, which raises K-pop fans’ expectations.

Don’t miss FanPick and its fresh episodes every Thursday at 6 pm on GMA Network’s Hallypop. For more exclusive and fresh content, visit Hallypop’s official social-media accounts.

CANNES, France—Beneath intermittent rainy skies, the Cannes Film Festival opened on Tuesday with the presentation of an honorary Palme d’Or for Meryl Streep and the unveiling of Greta Gerwig’s jury, as the French Riviera spectacular kicked off a potentially volatile 77th edition.

A 10-day stream of stars began flowing down the Cannes’ red carpet with the opening night film, The Second Act, a French comedy starring Lea Seydoux, Vincent Lindon, Louis Garrel and Raphaël Quenard. They play squabbling actors filming a movie directed by an artificial intelligence. The festival’s first lengthy standing ovation, though, went to Streep, who was awarded an honorary Palme d’Or during Tuesday’s opening ceremony. After Juliette Binoche introduced her, Streep alternatively shook her head, fanned herself and danced while the crowd thunderously cheered.

“I’m just so grateful that you haven’t gotten sick of my

face and you haven’t gotten off of the train,” said Streep, who soon thereafter declared Cannes officially open with Binoche. “My mother, who is usually right about everything, said to me: ‘Meryl, my darling, you’ll see. It all goes so fast. So fast,” added Streep. “And it has, and it does. Except for my speech, which is too long.”

The reception was nearly as rapturous for Gerwig, the first American female filmmaker to serve as president of the Cannes jury that will decide the festival’s top award, the Palme d’Or. Thierry Fremaux, Cannes’ artistic director, on Monday praised her as “the ideal director” for Cannes, given her work across arthouse and studio film and her interest in cinema history. And, Fremaux said, “We very much liked Barbie.” In the days to come, Cannes will premiere George Miller’s Furiosa: A Mad Max Saga, Francis Ford Coppola’s selffinanced Megalopolis and anticipated new movies from Paolo

Sorrentino, Yorgos Lanthimos, Andrea Arnold and Kevin Costner. But much of the drama surrounding this year’s Cannes has been off screen.

After French actor Judith Godrèche earlier this year accused two film directors of rape and sexual abuse when she was a teenager, the French film industry has been dealing with arguably its defining #MeToo moment. On Wednesday, Godrèche will premiere her short Moi Aussi. Asked about #MeToo expanding in France, Gerwig told reporters in Cannes on Tuesday that it’s progress. Gerwig is joined on the jury by Lily Gladstone, star of Killers of the Flower Moon French actor Eva Green, Spanish filmmaker J.A. Bayona, French actor Omar

Taong Walang Diyos,

LINO BROCKA, Nora Aunor and Philip Salvador in front of Carlton Hotel in Cannes 1981.

PIERRE RISSIENTE, Nora Aunor and another French producer discuss the 1981 Cannes International Film Festival plans at a get-together.

NORA AUNOR being interviewed by the French media at the Cannes filmfest.

Ta n u mbe r of se r v i ce d i mens i ons s u c h as staff, locat i on, p r od u ct qu al i ty, val u e fo r money, speed, r el i ab i l i ty, locat i on, f i x i ng compla i nts, call cente r d i g ital and del i ve r y se r v i ces. Joh n i n de Br aekt, Global CEO of T he Coffee Bean & Tea Leaf ® commends t he

‘T

City Susan Co Chairman of Purego l d Price C ub, I nc. re vea l ed that the supermarket chain conc uded 2023 w ith 850 , 000 “sari - sari ” ( sma ll convenience ) store members and approximate y 50 000 “ karinderya” (l oca l food sta ll) members tota l ing to 900 , 000 micro sma ll, and mediumsized thri v ing entrepreneurs, w ith the numbers continuing to grow She emphasized that besides the program s accomp l ishments in the l ast 20 years , the l oca grocery store chain has embraced the theme “Asenso Tayo,” emphasizing that progress is for e v eryone not just indi v idua s. Ang asenso ay para sa ahat hindi asenso ‘ ka o asenso ‘ako Asenso Tayo,” [“ Progress is for e v eryone not just your progress or my progress...We progress together ], she said. Co added that achie v ing progress is a co ll ecti v e effort , w ith Purego l d contributing through shared ideas and initiati v es. T he con v ention brought together thousands of program members , ce l ebrating success stories and de lv ing into potentia a v enues for expansion.

Brands such as N est lé, U RC U ni e ver P& G, San Migue l, Monde N issin , PM FTC Century Pacific Coca - Co l a De l Monte Gl obe , G cash , Kojiesan , and N utri - Asia among many others acti v

Politics of sports: Unlimited term

the 2015 scandal two years later, senior AFC official Richard Lai of Guam pleaded guilty in a federal court in Brooklyn to being part of a bribe-paying scheme that built influence in international soccer. Lai said it was run by a Kuwaiti faction which helped Sheikh Salman win election to succeed Bin Hammam in 2013.

Removing presidents after no more than 12 years were then seen as essential to curb networks of patronage and loyalty that can enable corruption and poor governance.

However, FIFA president Gianni Infantino has been allowed by a subsequent statutes amendment

Sarines pulls off thriller in Laurel; Zaragosa scores 4-stroke victory

VITO SARINES battled back from eight strokes down to beat Race Manhit and snatch a one-shot victory in the boys’ 11 to 14 years old category of the Junior Philippine Golf Tour (JPGT) Luzon Series I at the Splendido Taal Golf Club in Laurel, Batangas, Thursday. Despite initially struggling with rounds of 90 and 89, Sarines remained hopeful. Starting with a bogey on No. 10, he bounced back with an eagle-par-birdie run from No. 11 in a flight ahead of Manhit, then weathered a challenging five-bogey stretch over eight holes from No. 15. He closed out with five gutsy pars, finishing with an impressive round of 75, ultimately claiming the title with a 254 total over 54 holes.

Sarines wasn’t aware of his standing during the final round, allowing him to play with virtually no pressure.

“I had no idea of my position and only learned that I had won after holing out,” said Sarines, who sank a 15-yard putt for eagle on the par five 11th. “Going to the 18th, I told myself that I needed to make par to have a chance at winning.” Manhit, who led by one stroke

over Inigo Gallardo after 36 holes, maintained his lead or shared it throughout most of the round.

He briefly pulled ahead of Sarines in the last flight with a birdie on No. 6 but a costly double bogey on the next hole dimmed his chances as Sarines parred the last four holes.

Manhit ended up with an 84, setting for second place with a 255 total, while Gallardo placed third with a 263 after a 91.

In the girls’ 11 to 14 division,

Precious Zaragosa fended off a spirited challenge from twins Mona and Lisa Sarines to clinch a fourstroke victory with a 76 for a 231.

Zaragosa maintained her twostroke lead over Lisa Sarines after 36 holes by making crucial birdies to offset some struggles at the front, including a double-bogey on No. 4.

She then pounced on Mona Sarines’ double-bogey and bogey on Nos. 12 and 13, respectively, finishing with a birdie and two bogeys at the back to seal her commanding win.

“I’m happy to win this tournament as part of my preparation for the Junior World in July,” Zaragosa said. “I learned a lot here,

he oversaw to stay in office for 15 years until 2031, and UEFA voted in February to ensure its president Aleksander Čeferin can seek to stay beyond his 11th year in 2027. Čeferin later said he will not stand for reelection.

Even the International Olympic Committee is still weighing a members’ request last October to change legal rules to let their president, Thomas Bach, seek a third election next year. That would go beyond the 12-year limit set after the Salt Lake City bidding corruption scandal 25 years ago.

The AFC has trumped both FIFA and UEFA in removing all barriers to its president and executive committee members staying in place.

It was, the AFC said in a later statement, “another clear signal of our intent to ensure that we remain a model confederation that continues to uphold the highest ethical standards and best governance practices for the future generations of our great game.”

One legal barrier still remains for Sheikh Salman at FIFA. Its statutes currently block him from continuing beyond 2031 as a FIFA vice president and member of its ruling council. AP

especially that I need to improve my putting and iron game.”

Mona Sarines shot a 77 for second at 235 while Lisa Sarines failed to recover from a frontside 43 and wound up with an 80 for third with 237.

Vito Sarines and Zaragosa thus joined 8-10 category champions Ryuji Suzuki and Maurysse Abalos in the early roster of winners, marking the start of a nation-wide 14-leg tour, which includes three tournaments in the Visayas and four in Mindanao.

These performances highlight the competitive spirit and emerging talents in the circuit organizing by Pilipinas Golf Tournaments Inc., showcasing the future stars of the sport in the country.

In the premier 15-18 category spanning 72 holes, Jiwon Lee and Z achary Villaroman positioned themselves for varied finishes with the former extending her overnight four-stroke lead to six despite a 76, totaling 230.

Winner in her division in last year’s JPGT inaugurals, Lee struggled with a difficult backside start, bogeying the first four holes, leading to a 41, an experience she described as ego-deflating. However, an eagle on the par-5 No. 1 revived her spirits, bucking a bogey on the third hole with a run of pars, finishing with a 35 for a four-over par round.

Evangelista.

Senate approv

SENATOR Christopher “Bong”

Go lauded the Senate’s approval of Senate Bill No. 2514, or the Philippine National Games (PNG) bill, on second reading on Tuesday following his proposal of significant amendments.

Go is the principal sponsor and author of the bill which aims to strengthen grassroots sports development and provide a structured national program.

The bill hurdled the period of interpellations and amendments on second reading after incorporating crucial revisions to ensure inclusivity and comprehensiveness.

“The Philippine National Games are so important because they are a mini Olympics,” Go said. “These are staged every two years and this is where we discover potential world champions.”

Go, chair of the Committee on Sports, stressed the importance of the amendments introduced to enhance the bill’s scope and objectives.

“The amendments ensure that the PNG will not only serve as the only national sports competition but also recognize other similar initiatives while also providing opportunities for para-athletes and other local sports competitions,” Go said.

Key changes to the bill include the rephrasing of PNG’s role to serve as one of the country’s national sports competitions.

This adjustment aims to recognize the importance of other significant sports events in the country, such as the Palarong Pambansa.

The bill also explicitly includes para

athletes to guarantee opportunities for athletes with disabilities.

“The changes reflect our commitment to a more inclusive sports program that reaches all levels of our society,” Go said. “This bill will help discover and nurture talent from every corner of the Philippines.”

The bill now mandates that the PNG to be held in collaboration with municipalities under the jurisdiction of the provinces and cities to ensure broader participation.

The coordination with the Palarong Pambansa and other local and international competitions has also been emphasized to avoid scheduling conflicts and to prioritize the welfare of the athletes.

The Senate also approved a provision that prevents athletes from switching delegations after participating in qualifying competitions, ensuring fair play and consistent representation. Furthermore, the amendments allow the use of school facilities of the DepEd for the PNG, provided other facilities are utilized first, to accommodate the needs of the event.

With the second reading approval, the bill moves one step closer to becoming law.

“This bill, if enacted, will pave the way for a more organized and inclusive sports development program in our country,” Go said. “It is a significant stride towards nurturing our athletes and promoting a healthy and active lifestyle among Filipinos.”

Coach Yeng : We’ll give Beermen hell

By Josef Ramos

ENG GUIAO is locked, loaded and ready to rumble against San Miguel Beer in their Philippine Basketball Association Philippine Cup semifinals duel. He even promised to give the 10-time all-Filipino champion Beermen hell starting in Game 1 of the best-of-seven series at 4 30 p.m. at the SM Mall of Asia Arena.

“We’re going to make life tough for them the entire series,” said Guiao, a seven-time PBA champion coach, said adding the pressure’s on San Miguel Beer, which lost only twice so far this season once in the eliminations that prevented them from sweeping and the second once in the quarterfinals where the Beermen lost a twice-to-beat advantage to the Terrafirma Dyip.

“If we win, we win. If we lose, we lose,” he said. “But if we lose, we lose with our heads up high.”

He added: “We want them to feel all the pressure. There’s no pressure on us. We’re already champions in our minds.”

The Elasto Painters went the full route in ousting TNT Tropang Giga in the quarterfinals they lost the opener, 116-99, but bounced back twice in a row, 121-113 and 110-109 in the bestof-three series.

The Beermen of Jorge Galent who won the previous Commissioner’s Cup for his first championship as head coach were caught flat by the Dyip, 106-95, but managed to avoid the ax, 110-91. Guiao’s been going to his young crew this season sophomores Gian Mamuyac (25), Shaun Ildefenso (26), Andrei Caracut (26) and Jhonard Clarito (26) and rookies Keith Datu (26) and Adrian Nocum (25).

Mamuyac exploded in Game 3 against TNT with 25 points spiked by a crucial three-point bomb that sealed their win, while Clarito, after hitting 29 points in Game 2, Clarito had 17 points in the clincher.

“That’s the best thing we can do develop a young team by making them play together in a tough situation,” Guiao said. He acknowledged just how tough the Beermen are.

“They are the best team in the conference. We can’t match up with June Mar Fajardo,” he said. “But we’ll play as hard as we can.”

Competitions will be in boys and girls 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16 and 17 and under and 18 and over categories. The age of reckoning is December 31, 2024. “This is part of a series of COPA competitions aimed at fostering camaraderie and boosting the swimmer’s development at the grassroots level.  But of course, expect tough competition as some of our Palarong Pambansa qualifiers are confirmed to join the event,” said Batangas 1st District Rep. Eric Buhain, COPA co-founder and Philippine Aquatics Inc. secretary-general. The event, Buhain said, will also

prepare the swimmers for the national tryouts set August 15 to 18 that would select members of the team to the Southeast Asian Age Group Championship in Bangkok in December. Among the swimmers to watch are multi-titled and Palarong Pambansabound Nicola Diamante of the RSS Dolphins-Paranaque, Asian Age-Group Championships campaigner Patricia Mae Santor from the University of Santos, along with Rio Balbuena, Jada Cruz, Amber Arano, Kristoffe David and Audrina Victor from the famed Ilustre East Swimming Club of national coach Ramil Ilustre.

Gallent said it’s going to be a tough series.

“It’s going to be a fierce competition,” he said. “They have the same style, they have bigs who can shoot threes.”

THERETURNOFTHE‘TRAILRATED’LEGEND

Story & photos by Randy S. Peregrino

BEING a legend in the off-roading realm, the Jeep Wrangler needs no introduction. In the Philippines, to see one on the road is considered a rare sighting, in a good way.

Since its inception, Jeep has retained the model’s known design element that the ordinar y looker would not even tell the difference. So, any form of enhancement to this trailrated icon has always been worthy of anticipation.

Recently, Jeep’s official distributor in the countr y, Inchcape Philippines, has relaunched the New Jeep Wrangler 4-Door Sport. However, weeks prior, select media members got to experience the updated model behind the wheel. But it was different from the usual off-roading drive as the vehicle needed not to validate further what it was known for instead, a relaxing out-of-town trip to a campsite.

Iconic look WHILE the Jeep Wrangler has remained faithful to its iconic look over the years, the updated Unlimited Sport version boasts a slicker, yet subtle, front fascia with a molded black front bumper automatic LED premium reflector headlamps with off time delay, integrated LED daytime running lamps, and LED front fog lamps. Moreover the updated variant received new cutting-edge 17-inch gray alloy wheels wrapped in 245/75 R17 all-terrain tires. Gone is the old antenna, which was replaced with a window-integrated one. Of course, there is the black three-piece hard top.

Spartan yet techy EVERYTHING inside is as attractively spartan as what a Jeep Wrangler interior should be. But there are modern refinements and loads of tech functions. Of course, the highlight is that the heritage-inspired center stack complements the horizontal dashboard design. A wrapped instrument panel features new soft-touch surfaces in fabric or poly urethane, with contrast accent stitching.

At t he cente r i s t he all-new 12.3-inch touchscreen the most advanced and largest display ever offered on Wrangler which houses the fifth-generation award-winning Uconnect 5 system that sits prominently atop the center stack. The latest Uconnect 5 is faster and supports Wireless Apple CarPlay and Google Android Auto, GPS Navigation, OffRoad Info Pages, and multiple user profiles with full customization.

Also, there is a seven-inch TFT Color Display Driver’s Cluster, USB

Type C ports, standard 12-volt accessor y outlets (center console and cargo area), and a nine-speaker Alpine Premium Audio System.

Seats are fabric-w rapped w it h side bolsters. The heated front seats have six-way adjust with two-way lumbar (driver), four-way manual adjust (passenger), and 60/40 folding rear seats. Even the steering wheel is heated with mounted audio controls.

Other features are illuminated cupholders, au xiliar y 12V rear power outlet, rear window defroster, and Torx Tool K it. On top of these, the Remote Start System is available through the key fob.

Boosted and “Trail-Rated” UNDER the hood is a potent, gasol i ne-fed 2.0-l ite r t ur boc h a rged four-banger engine mated with an eight-speed automatic transmission.

Impressively, Jeep managed to tune the engine to achieve 268 hp and 400N-m of torque on paper

As for its drivetrain, this returning model is “Trail-Rated” with its proprieta r y Selec-Trac Fu ll Ti me 4WD System, Dana M186 front axle, Dana M200 rear axle, conventional differential front axle w/ disconnect, conventional differential rear axle, transmission skid plate, transfer case skid shield, and fuel tank skid plate.

ADAS and more

SAFETY-WISE, the various driverassistive components are Adaptive Cruise Control w/ Stop, Selec-Speed Cont rol, Advanced Brake Assi st, Electronic Roll Mitigation, Anti-Lock 4-wheel FNC Disc HD Brakes, Electronic Stability Control, Full Speed Forward Collision Warning Plus, Hill Start Assist, Traction Control, Trailer Sway Damping, ParkSense Rear Park Assist System, and ParkView Rear Back-Up Camera.

Ot he r feat ures a re Advanced Multi-Stage Front A ir Bags, Supplemental Front Seat Side A ir Bags, and Supplemental Side Curtain A ir Bags (new). Two-Door Passive Entr y, Speed Sensitive Front Door Locks, Child Seat Upper Tether Anchorage, Front Passenger Seat Belt Alert, Push Button Start, Rear Seat Reminder Alert, Remote Keyless Entr y, Tire Pressure Monitoring Display, and Locking Glove Box.

Behind-the-wheel

THE experiential drive was to and from Kaliraya Surf Camp in Cavin-

ti Laguna, going through over 160 kilometers of mostly winding, with ascents and descents countr yside roads. After all, like any other 4x4capable vehicle today, the Jeep Wrangler is also a versatile countr yside dweller

As spartan as the cabin may be, driving on city roads was steady; of course, the higher vantage point was a constant reminder that the vehicle still had high ground clearance and rolling on big tires. However entering the Rizal province area witnessed more sur prising dynamics. For one, t hose power and torque

f ig ures a re cer ta i nly acc urate. As i f t he f rame was l ight and t he t ires were small enough becau se, w it h ever y pu sh of t he t hrottle, t he accelerat ion was sw ift and effor tless. T he auto t ransm ission’s shift i ng was not only seamless but also on poi nt i n ever y gea r to reta i n w it hi n opt i mu m eng i ne r pms. So, eng i ne del iver y was t he least to worr y about.

On w inding roads, the vehicle was remarkably nimble, as if it had a lower center of gravity. Never mind the ground clearance and big tires, but the way the Jeep Wrangler

hi le we cont i n u e to enco ur age o ur u se r s to ens ur e t h ey h ave s u ff i c i ent balance o r r eg i ste r t h e ir ve hi cles to A u tosweep,

Since it is still mechanical, it was expected and reassuring as well to avoid unnecessar y engagement, particularly since the 4H is not designed for high speed. Overall, never look at the Jeep Wrangler as simply a rugged machine for the roads less traveled because it

Editor: Tet Andolong