BusinessMirror November 02, 2021 by BusinessMirror

ILO cites PHL role in labor recovery agenda By Samuel P. Medenilla @sam_medenilla

HE International Labor Organization (ILO) said the Philippine government will play a key role in addressing the plight of the 125 million workers who lost their jobs amid the pandemic. According to the Department of Labor and Employment (DOLE), ILO Director General Guy Ryder issued the statement during his meeting with Labor Secretary Silvestre H. Bello III last week. As the lead of the ILO government cluster, Bello, according to Ryder, will play the “crucial role” of setting the agenda to provide social protection for Covid-affected workers. The ILO head noted that cur-

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rently, 53 percent of the employees worldwide do not have such social protection. “From temporary amelioration, there is a need for a more systemic, permanent social protection,” Ryder said. Ryder lauded the amelioration programs implemented by the Philippine government, which could serve as a model for other countries. The initiatives include the Department of Labor and Employment’s cash aid for displaced overseas Filipino workers (OFW) through its Abot Kamay Ang Pagtulong (AKAP) and Covid-19 Adjustment Measures Program (CAMP) for displaced formal sector workers. It also included the Tulong Panghanapbuhay sa Ating Disadvan-

‘From temporary amelioration, there is a need for a more systemic, permanent social protection.’

GUY RYDER

ILO DIRECTOR GENERAL

taged/Displaced Workers (Tupad), which provided temporary employment to disadvantaged informal sector workers. Bello said he will include Ryder’s suggestions during his chairmanship of the ILO government group. In the Philippines, many of the

displaced workers came from the most badly hit economic sectors like tourism, service sectors, and small and medium enterprises that could not reopen quickly during the Covid-induced lockdowns. Continued on A2

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‘PHL MUST GROW 5-5.5% IN H2 TO HIT ’21 TARGET’

China’s manufacturing slows for 2nd month in Oct

By Bernadette D. Nicolas @BNicolasBM

HE country’s economy needs to grow by 5 to 5.5 percent in the second half of this year to hit the government’s full-year target of 4 to 5 percent, the Department of Finance (DOF) said. Finance Undersecretary and Chief Economist Gil Beltran said the country’s average economic growth for the first half of the year is at 3.7 percent, which he said is already “very close” to the government's full-year goal. “We should be growing by about 5 to 5.5 percent to attain the target because we are now at 3.8 percent. It should be a little above 5 percent to be able to hit the higher end of the target,” he told reporters in an interview. Finance Secretary Carlos G. Dominguez III has since expressed confidence that the government can meet its downscaled economic growth target as the Philippine economy is expected to start opening up this fourth quarter. However, he said they expect a lower economic growth for the third quarter compared to the previous quarter due to re-imposition of Covid-induced lockdowns. Nonetheless, Dominguez said that the government’s goal now is to continue vaccinating the population, including adolescents. The finance chief also said they have already ordered and financed 170 million doses of vaccines to cover the population. “The immediate goal and the midterm goal is to remove the virus as a Continued on A2

RESIDENTS and visitors fish in one of 22 fishponds found at barangay Tagalag, declared as an City Eco-Tourism zone in 2016, in Valenzuela City. The barangay is surrounded by three rivers, Polo River in the west, Meycauayan River in the north and Coloong River in the east. NONIE REYES

OCTA BACKS CALL TO EASE NCR ALERT LEVEL TO 2 By Samuel P. Medenilla @sam_medenilla

H E O C TA R e s e a rc h Group has backed the government proposal to downgrade the Alert Level 3 in the National Capital Region (NCR). OCTA Research Group member Guido David said the region is now under moderate risk in terms of Covid-19 cases after registering a daily attack rate at 5.72 percent. He noted this was complemented by the low hospital utilization rate in theNCR at 30 percent and intensive care utilization rate, which is at 39 percent. “So based on our reading of the data, it’s actually safe to reopen our business at this time,” David said in an online interview with PTV on Monday.

‘We support relaxing the Alert Level to 2 to allow our business to recover, but it should be done in a safe manner.’

GUIDO DAVID OCTA REASERCH

The OCTA Research Group issued the statement amid calls by some business leaders for the Alert Level in NCR to be lowered from 3 to 2 to allow more establishments to operate in the region. Despite the promising Covid-19

data in NCR, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) decided last week to extend the Alert Level in NCR until November 15, 2021. The IATF made the decision

to determine if the further easing of health protocols in the region could lead to a higher infection rate. Based on their observation, David said the resurgence of Covid-19 cases in the NCR with the implementation of a lower Alert Level is unlikely. He said there is currently no new, more infectious, variant of the Covid-causing severe acute respiratory syndrome coronavirus 2 (SARSCoV-2) present in NCR, which leads to a surge in infections. He noted also a high vaccination rate in the region, which is now at 80 percent. “We support relaxing the Alert Level to 2 to allow our business to recover, but it should be done in a safe manner,” David said.

EIJING—China’s manufacturing activity contracted for a second straight month in October amid materials shortages and a widespread power crunch. China’s official manufacturing purchasing managers index dipped to 49.2 in October, according to data released by the National Bureau of Statistics, down from 49.6 in September. The index is measured on a 100-point scale on which numbers above 50 show activity increasing. The indicators are closely watched as a barometer of China’s economy. Analysts have warned activity may slow further as manufacturers grapple with the power crunch, shortages of materials and surging costs. In a statement Sunday, National Bureau of Statistics economist Zhao Qinghe said that the drop in factory activity was due to tightened power supplies, higher costs for materials and slowing supply and demand. Since September, local governments have been doubling down on meeting energy consumption targets set by Beijing to ensure China’s carbon emissions peak by 2030. Factories and companies were ordered to reduce or even halt production temporarily. Industries like textiles, iron smelting and non-metallic mineral products were among the hardest hit, Zhao said. At the same time, many manufacturers face bottlenecks in getting supplies and in getting their products to customers. The monthly purchasing managers’ index by Caixin, a Chinese business magazine, suggested that manufacturing activity grew in October compared to the previous month as demand recovered. Caixin’s monthly purchasing managers’ index rose to 50.6 in October, up from 50 September. The Caixin index tends to focus on smaller, exportoriented firms, while the official PMI by the National Bureau of Statistics focuses more on large enterprises. Official data also showed that service sector activity slowed down in October, falling to 52.4 from 53.2 last month. The services sector has been slower to rebound due to the pandemic, and is currently affected by a number of Covid-19 outbreaks in northern China. The composite PMI, which captures activity from both the manufacturing and services, declined to 50.8 from last month’s 51.7. AP

News A2 Tuesday, November 2, 2021

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Netflix drama touting 9-dash line ordered pulled out in PHL A fter a thorough rev iew, the Board r u led that cer tain episodes of “Pine Gap” are “unfit for public ex hibition.” The MTRCB also ordered the immediate pullout of relevant episodes by its provider, Netflix Inc, from its video streaming platform. In its decision, the MTRCB underscored that “under a whole-ofnation approach, every instrumentality of the government, whenever presented with the opportunity, has the responsibility to counter China’s aggressive actions in the West Philippine Sea to assert the Philippines’ territorial integrity.” It further noted that the portrayal of the illegal nine-dash line in Pine Gap is no accident, as it was consciously designed and calculated to specifically convey a message that China’s nine-dash line

OLLOWING a complaint lodged by the Department of Foreign Affairs, the Movie and Television Review and Classification Board (MTRCB/Board) handed down its decision to pull out the episodes of the political drama “Pine Gap” for showing a map of China’s nine-dash line and violating Philippine sovereignty.

legitimately exists. Such portrayal, it said, “is a crafty attempt to perpetuate and memorialize in the consciousness of the present generation of viewers and the generations to come the illegal nine-dash line. Using the medium of a motion picture is but China’s unconventional approach to gain an upper hand in the territorial conflict in the South China Sea/West Philippine Sea.” The Department of Foreign Affairs said in a statement on Monday that it expects Netflix to comply with the ruling. Early this year, Netf lix removed the same Australian spy drama in Vietnam after it also raised eyebrows in the Southeast Asian country over its depiction of Chinese claims in the South China Sea.

Peso seen to stay firm as Christmas season nears

HE Philippine peso is expected to remain generally firm against the US dollar as the Christmas holiday nears, a season for increased inflows from overseas Filipino workers (OFWs). At the end of the trading session last October 29, the local currency finished at 50.415 against the greenback, better than its 50.71 close in the previous day. In a report, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the local currency ended last week’s trade to its strongest in more than a month, or since September 23. Aside from optimism on the continued decline in local coronavirus disease 2019 (Covid-19) cases, Ricafort said improved global market risk appetite also supported the local currency. “(The) peso (is) likewise stronger in anticipation for some increase in OFW remittance and conversion

to pesos ahead of the long holiday weekend as the Christmas season and preparations draw closer into November 2021,” he said. Ricafort forecasts the peso’s major support level between 50.20 to 50.30 this week for a possible trek to the 49.70 to 50.00 in the coming days. Bangko Sentral ng Pilipinas (BSP) data show that cash inflows from OFWs have historically been high in the last quarter of the year, as well as before the start of the school openings. As of August this year, cash remittances grew by 5.7 percent to USD20.38 billion. Monetary authorities forecast remittances to grow by 4 percent this year, with optimism based on the reports of continued reopening of economies around the globe and continued demand for OFWs, especially those for the medical field. PNA

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"We hope Neda can look at this based on the actual situation on the ground and not just by figures they gathered. Please do not single out pork," he said. "The government's suggestion is for short term only and the consequence is that they are just prolonging the domestic local industry to go back to its normal position, because all their actions are indirectly telling local producers to lay-low," he added. Since the issuance of AO 6 Series of 2012, industry groups such as the Meat Importers and Traders Association (MITA) and Philippine Association of Meat Processors Inc. (Pampi), have sought the suspension or even the elimination of such rule, claiming that the order is discriminatory against imported

meat products and is not based on science. In 2013, the DA conducted a study to prove that AO 6 is based on science. The study found out that “thawed meat is not the same meat as newly slaughtered meat," arguing that “thawed meat provides a more conducive environment for pathogen growth." “Once meat is completely thawed, pathogens reach the ‘level of concern’ immediately, for Staphylococcus aureus and shortly thereafter, for salmonella,” it said. “The above findings justify the requirement in AO 6 to hold frozen thawed meats at a maximum temperature of 5 degrees Celsius to prevent the rapid multiplication of pathogens on thawing,” it added.

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determinant of our growth. That is the immediate goal. The only way to do that is to vaccinate, we vaccinate everybody, from 12 years old up," he said. For his part, Foundation for Economic Freedom President Calixto Chikiamco said the feasibility of hitting the 4-5 percent economic growth target range would depend on whether the government decides to loosen up the mobility restrictions and when that will take place. Metro Manila is under Alert Level 3 until November 14 to avoid a sudden spike in Covid-19 cases. "Presidential adviser Joey Concepcion's suggestions of including North America in the green lane, i.e. passengers need not be hotel -quarantined, and downgrading to Alert level 2 as soon as possible, are common sense suggestions that can help the economy reach the target of 4 to 5 percent. But if the government will still insist on Alert level 3 and strict restrictions for travelers, economic momentum will stall," Chikiamco told the BusinessMirror. Earlier, the International Monetary Fund (IMF) cut its growth forecast for the Philippines this year to beneath the low end of government’s target. In the latest issue of the World Economic Outlook, the IMF now forecasts the Philippines to grow by 3.2 percent for 2021—down from the 5.4-percent forecast of the country’s GDP growth in July.

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L ac son , Pa r t ido R e p or m a chairman, clarified he found "nothing wrong if some children from the underprivileged sectors of society would prefer to stay and work in their farms,” but stressed that “this should not stop them from pursuing further education." The senator added he was hoping to "see Filipino farmers get the same level of respect as those who are working in the agricultural industries of mostly first-world countries, instead of having children being forced by their parents to go into the corporate world in pursuit of higher salaries." He added: “You know, unfortunately, it is only in the Philippines na ‘yung farmer mahirap (where the farmers are poor). You go to the United States, you go to Europe, the farmers are the richest in their communities.” The senator recalled that according to a 2020 report by the World Bank, transforming the Philippine agriculture industry into a dynamic, high-growth sector is "essential for the country to speed up its pandemic recovery," on top of its continuing poverty alleviation efforts. Based on latest figures from the Philippine Statistics Authority, growth in the agriculture, forestry, and fishing sectors dropped by -0.1 percent in the second quarter of 2021. It is the third consecutive quarter of decline since its upward growth in the third quarter of 2020. Butch Fernandez

ILO... Continued from A1

The backbone of the economy, the migrant workers sector, was also impacted, with some half a million overseas Filipino workers forced to come home as their employers in host countries were also hit by the pandemic. Some of them were able to return to overseas jobs after a year, but those unable to have their old jobs restored, or to find new ones, underwent retooling, job-matching, and other forms of assistance from DOLE.

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Let’s not lower our guard amid drop in Covid-19 cases–Angara By Butch Fernandez @butchfBM

EN. Juan Edgardo Angara alerted the Duterte administration against complacency amid a dip in deadly Covid cases. This, even as Angara, chairman of the Senate Finance Committee, guaranteed that senators suppor t the administration’s funding requirements to bankroll ongoing efforts to effectively contain the Covid pandemic by scrutinizing the Palace proposed 2022 national budget amounting to over P50 trillion. Even as the number of positive Covid cases dipped recently, Angara advised concerned government agencies and health officials, as well as the public, not to be complacent. Angara reminded that Covid-19 victims are still being admitted to hospitals, noting some never get out alive due to the coronavirus. The senator observed that even the delivery of 100 million doses of the anti-Covid vaccines are deemed to be not enough to check the contagion. He cited a report of the National Task Force Against Covid as of October that pegged the number of Filipinos at 25 million fully-vaccinated against Covid-19. Still, Angara asserted this is only 33.65 percent of the 70 percent of the population government is targeting to vaccinate before the yearend. Because of that, the senator stressed to the DOH and affected local government units to be “more creative and flexible” in distributing the vaccine supplies. At the same time, Angara endorsed the appeal of vaccine czar Carlito Galvez to local governments to conduct house-to-house vaccine service, particularly for senior citizens, as well as persons with disability (PWDs) and others that should be vaccinated. Angara also reiterated his reminder to local government units to continue advising residents in their areas on the “importance of minimum safety protocol” in wearing face mask and maintaining “social distancing” even if already vaccinated. As chairman of the Committee on Finance, the senator guaranteed that the Senate is supporting funding requirements of the ongoing government efforts to effectively contain the Covid pandemic by scrutinizing the Palace-proposed 2022 national budget amounting to over P5 trillion.

Editor: Vittorio V. Vitug • Tuesday, November 2, 2021 A3

DND chief: Death of IS, NPA leaders ‘big blow’ to terror groups in South By Rene Acosta @reneacostaBM

EFENSE Secretary Delfin Lorenzana said on Monday that the successive neutralizations of the top commander of the New People’s Army (NPA) in Mindanao and the leader of the local front of the Islamic State (IS) in the country dealt a “big blow” to the two main terrorist groups in the country. “The neutralization of Jorge ‘Ka Oris’ Madlos and Salahuddin Hassan through the sustained internal secu-

rity operations of our troops is a big blow to these local terrorist groups, and a manifestation of the AFP’s [Armed Forces of the Philippines] commitment to secure the people against the threat of these lawless elements, especially in Mindanao,” Lorenzana said in a news statement issued through defense spokesman Arsenio “Popong” Andolong. Madlos, the top rebel commander in Mindanao and spokesman for the communist group’s National Operations Command (NOC) and National Democratic Front of the PhilippinesMindanao, was killed on Saturday in

the mountainous part of a village in Impasugong, Bukidnon during combined operations by Air Force and Army forces under the operational command of the 4th Infantry Division (4th ID). The military kept track of Madlos and his men after villagers reported their presence in the area after the group reportedly carried out teach-in and indoctrination among the villagers. On the other hand, Hasssan, former head of the Al-Khobar terrorist group and who assumed the reign of the Daulah Islamiya (DI)

after the death of Hatib Hadjan Sawadjaan in Sulu last year, was killed by Army troops in Maguindanao on Friday. The DI, based in Mindanao, is the local front of the IS in the country. Lorenzana commended the AFP over the successful separate operations in Bukidnon and Maguindanao, which resulted in the deaths of Madlos and Hassan. The defense chief also called on Filipinos to support the government’s effort to end the operations of terrorist groups and spur development, especially in the countryside.

“As the NPA and other local terrorist groups become weaker due to the efforts not just of the security sector but of the whole nation, we call on the public to continue supporting our bid for peace and progress in our country,” Lorenzana said. 4th ID commander Major Gen. Romeo Brawner Jr. and Armed Forces Eastern Mindanao Command commander Lt. Gen. Greg Almerol awarded on Monday those involved in the operation against Madlos during a ceremony at the 4th ID headquarters in Cagayan de Oro City.

Batangas RTC judge junks illegal gun, CA reso allows Maria explosives possession raps vs activist Ressa to travel to US By Joel R. San Juan

@jrsanjuan1573

R EGIONA L Tr ial Court (RTC) in Tanauan City, Batangas, has junked the illegal possession of firearms and explosives charges filed against an activist who was arrested during the so-called Bloody Sunday raid conducted by police and military operatives in Southern Luzon provinces that resulted in the death of nine activists on March 7, 2021. In an eight-page order issued by Tanauan RTC Branch 6 Presiding Judge Jose Ricuerdo P. Flores ordered the immediate release from jail of Erlindo Baez Custodio unless he is being detained for other legal reasons. The trial court declared as null and void the search warrant issued

by Manila RTC Branch 174 Presiding Judge Jason Zapanta against him, which led to his arrest and the filing of criminal charges against him. Judge Flores noted that the subject search warrants failed to specifically and sufficiently describe the place to be searched, which is one of the requisites for its valid issuance. The Tanauan RTC noted that the search warrant failed to include the description of the location of the residence of the accused sufficient to distinguish it from other houses in Barangay San Vicente, Santo Tomas City, Batangas. The prosecution, according to the trial court, could have presented the pictures or documents to prove that Custodio’s house was the one specified in the search warrant but failed to do so. Furthermore, Judge Flores ob-

served that there was nothing in the records that would show Judge Zapanta personally and thoroughly examined the applicant and witnesses prior that would justify the determination of probable cause for the issuance of a search warrant. “There is nothing from which the court can infer whether the requisite examination was made and from which the factual basis for the probable cause to issue the search warrant was derived,” Judge Flores noted. In light of the nullity of the search warrant, Judge Flores said the search conducted on the house of Custodio is also null and void. “Under the Constitution, any evidence obtained in violation of a person’s right against unreasonable searches and seizure shall be inadmissible for any purpose in any proceeding,” Judge Flores stressed.

3 Korean fugitives linked to ‘voice phishing’ nabbed

HE Bureau of Immigration (BI) on Monday announced the arrest of three South Korean fugitives for their alleged involvement in telecommunications fraud. BI Commissioner Jaime Morente identified the Korean nationals as 29-year-old Jin Unghyeon, 34-yearold Choi Sukhyun and 23-year-old Lee Seungsu. The trio was caught by arresting agents in the act of manning and operating their computer workstations, which they used to defraud their victims through voice phishing. BI-Fugitive Search Unit acting chief Rendel Ryan Sy said Jin is the

subject of an outstanding arrest warrant issued by the Suwon district court in Korea after he was indicted for being an alleged member of a syndicate that swindled their compatriots of over $840 million since they ran their voice phishing racket in January 2017. Jin is also subject of an Interpol red notice, which was issued following the court issuance of an arrest warrant against him in October 2019. When BI operatives raided his condominium residence in Novaliches, Quezon City, Sy said they also found Choi and Lee allegedly being engaged in voice phishing. Voice phishing involves the use of

fraudulent phone calls to trick people into giving money or revealing personal information and is perpetrated by criminals pretending to represent a trusted institution, company, or government agency. Further verification showed that Jin’s cohorts are overstaying aliens since their tourist visas have already expired. Morente said Jin will be immediately sent back to South Korea as an order for his deportation was already issued against him by the BI board of commissioners in October last year while his two accomplices will undergo deportation proceedings.

HE Court of Appeals has denied the bid of the Office of the Solicitor General (OSG) to block Rappler CEO and Nobel Laureate Maria Ressa’s travel to the US from October 31 to December 2, 2021. In a six-page resolution penned by Associate Justice Geraldine FielMacaraig, the CA’s Eight Division affirmed its decision issued on October 18, 2021, which granted Ressa’s motion to travel to the US to participate as a joint Hauser Leader and Visiting Shorenstein Center’s Fellow at the Harvard Kennedy School in Boston. The CA also allowed Ressa to visit and celebrate Thanksgiving with her parents in Florida. In the said ruling, the CA held that Ressa was able to prove that her travel was necessary and urgent and that she is not a flight risk. Likewise, the appellate court pointed out that her visit to her parents in Florida is justified for humanitarian reasons. The CA, which is hearing Ressa and former Rappler researcherwriter Reynaldo Santos Jr.’s appeal of their cyber libel convictions, had previously denied her requests to travel abroad. “In sum, the Office of the Solicitor General failed to present compelling reasons to warrant a reconsideration of the October 18, 2021 Resolution, thus, the granting of Ressa’s fifth urgent motion to travel abroad stands,” the CA said. “Nevertheless, the approval is limited to Ressa’s appeal before this Court…and the grant or denial is

similar to motions before the other courts where she faces criminal prosecution is outside this Court’s jurisdiction,” it added. In opposing Ressa’s plea to travel abroad, the OSG noted that the petitioner failed to present any compelling evidence to prove that her intended travel is necessary and urgent. It noted that the Rappler head was merely invited, and her nonparticipation in the program would not cause irreparable damage to any party. As regards to Ressa’s v isit to her parents, the OSG argued that Ressa could effectively use available online and technological applications. Likewise, the OSG warned the CA that Ressa is a flight risk considering her dual citizenship, her prior conviction and statements undermining the capability of the justice system to dispense impartial justice. But the CA held that Ressa was able to prove the necessity and urgency of her intended travel; through the invitation letter she submitted showing that her actual attendance is needed since it will be conducted physically. “We cannot sustain the Office of the Solicitor General’s opposition grounded on Ressa’s dual citizenship and alleged lack of respect for the Philippine judicial system because the same is speculative as of now,” the CA pointed out. Concurring with the ruling were Associate Justices Elihu Ybañez and Carlito Calpatura. Joel R. San Juan

Group cites potential backlash Trece Martires hospital receives land ambulance of Lingayen Gulf mining project from DOH-Calabarzon for prompt med response By Jasper Emmanuel Y. Arcalas @jearcalas

FOOD advocacy group on Monday urged President Duterte anew to recall his approval of an offshore mining project in Lingayen Gulf, Pangasinan, pointing out that it would be detrimental to domestic tourism industry and fish production. Citing marine experts and other industry stakeholders, Tugon Kabuhayan claimed that the impact of the proposed offshore mining project by the Iron Ore, Gold, Vanadium Resources (Phils.) Inc. will do more harm than good to the industries surrounding Lingayen Gulf. The group said Duterte must recall the project’s Financial or Technical Assistance Agreement (FTAA) No. 07-2020-IOMR, which he approved last year, before the potential adverse impacts of the project materialize. The project seeks to extract 25

million dry metric tons of black sand per year in Lingayen Gulf. University of the Philippines Marine Science Institute scientist Dr. Fernando P. Siringan explained that the seabed mining would cause several negative consequences to the environment such as resuspension and dispersal of fine-grained materials, which will disturb the habitat of marine organisms around the gulf. “The resuspension and dispersion will also dig up cysts buried in the ocean sediment, which will lead to harmful algal bloom, or more commonly known as red tide,” Siringan said during the bimonthly virtual news briefing organized by Tugon Kabuhayan. Siringan added that the seabed mining may also potentially release undesired metals and other harmful compounds back into the water, which may pollute the food chain since the gulf is home to about a quarter of the country’s bangus supply.

EPARTMENT of Health (DOH)—Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon) turned over one unit of land ambulance to General Emilio Aguinaldo Memorial Hospital, a tertiary provincial hospital located in Trece Martires, Cavite. The simple ceremony was held at the regional office in Project 4, Quezon City on October 27, 2021. The new unit of land ambulance is part of the two units allocated by DOH-Health Facility Enhancement Program (HFEP) 2021 to the region to be distributed to selected public health facilities. “Patuloy ang pamimigay natin ng mga ambulansya para magamit sa pagbibigay ng mabilis na serbisyong medikal at pangkalusugan lalo na ngayong may pandemya. Ito ay kompleto ng mga first aid medical equipment at supplies na syang pangunahing kailangan sa pagrespondesamga medical emergency lalo na sa mga nakatira sa malalayong

lugar sa probinsya,” Director Eduardo C. Janairo emphasized. The ambulance is equipped with stretcher, automatic external defibrillator (AED), nebulizer, portable suction machine, examining light, aneroid sphygmomanometer wall mounted, folding stretcher, scoop stretcher,heavydutystethoscopeadult/ pedia, non-contact thermometer, blood glucose meter with strip, manual resuscitator for adult, pediatric and infant, oxygen cylinder with oxygen therapy set, laymgoscope set, immobilization devices, delivery set, fire extinguisher, dashcam with memory card (front and back), digital clock, cellular phones (2 pieces), IV holder, air purifier, LED flashlight, USB connector (for driver’s cabin accessories), sharps container, garbage container and extra set of tools. “Napakaimportante na ang mga ambulansyaaymaykakayahangmagligtas ng buhay at hindi lang magsilbing transportasyon lamang ng pasyente.”

DOH-CALABARZON Regional Director Eduardo C. Janairo turns over the key and deed of donation to representatives of General Emilio Aguinaldo Hospital together with Provincial Health Team Leader Cavite Ms. Armida Camposagrado, who witnessed the turn over ceremony held at the regional office in Project 4, Quezon City, on October 28, 2021. PHOTO COURTESY OF DOH-CALABARZON

“Patuloy po ang DOH-Calabarzon sa pagbibigay ng mga kinakailangang kagamitan sa ating mga pampublikong hospital upang mapalakas ang kanilang

serbisyo medikal at makapagbigay ng maayos at mabilis na serbisyong pangk alu sugan sa at ing mga kababayan,” Janairo said.

A4 Tuesday, November 2, 2021 • Editor: Vittorio V. Vitug

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ADB urged to ‘clarify’ position Gasoline price increase continues as diesel, LPG, kerosene decline on coal retirement mechanism proposal before COP26 in UK D By Lenie Lectura

By Jonathan L. Mayuga @jonlmayuga

N alliance of nongovernment organizations from across Asia on Monday called on the Asian Development Bank (ADB) to clarify details of its coal retirement mechanism proposal before the 2021 Climate Change Conference (COP26) in Glasgow, UK. This, as the ADB bares plans to launch on November 3 its Energy Transition Mechanism (ETM), a private-sector-led initiative to retire existing coal power plants early, starting with a pilot phase in the Philippines, Indonesia, and Vietnam. The CSOs believe that the ADB should delay the announcement until it has addressed a number of practical concerns about this proposal, including the risk it could undermine an ambitious, swift, and just transition from coal in targeted areas. In an open letter to ADB management and board members, major donor governments and supporters of the initiative, including Prudential, SE4All, Rockefeller Foundation and Bezos Fund, civil-society organizations across Asia instead demanded

ADB to forego the announcement. They insisted that injustices wrought to communities by coal power projects come to an end as soon as possible, but they pointed out that there are no assurances the ADB’s ETM will actually shorten rather than prolong the lifespan of coal facilities. According to them, it is also not clear whether the ADB’s plan will hasten the transition to renewables and protect end-users from exposure to increased costs of power. They said that power plants in the target countries are not subject to market pressures and thus any buy-outs will have to contend with state support and opaque power purchase agreements. Moreover, they said that civil society and community stakeholders from these countries have yet to be informed of the details of the ETM in their own languages, to have opportunities to be consulted, seek clarity, and provide input. “We urge ADB not to gamble with our climate survival and the possibility of ending coal in a swift, just, and genuinely transformative manner with a premature buy-out scheme that remains shrouded in

uncertainty,” the letter says. “Civil-society organizations and communities from around South East Asia have called on the ADB to address glaring concerns on the alignment of the proposal to genuine energy transition and transformation before seeking political and financial support for it, yet the Bank seems fine with ignoring such concerns. While it could be a step in the right direction to free developing nations from the clutches of coal, the ETM as it stands gives no assurance that it will actually shorten the life of coal-fired power plants,” Gerry Arances, executive director of Center for Energy, Ecology, and Development (CEED) in the Philippines, lamented. He added that the ADB has not even provided adequate consultation with civil society over issues such as whether electricity users will bear the costs of bailing out coal plant operators. “As climate-vulnerable and economically burdened people, we cannot afford to have ADB gamble with premature coal phase-out plans, which to us is no less than a matter of life and death,” he said.

@llectura

IESEL and kerosene prices are going down this week while that of gasoline and liquefied petroleum gas (LPG) will increase this week. In separate announcements, oil firms said Monday they would jack up gasoline prices by P1.15 per liter, while diesel price will go down by P0.35 per liter. Kerosene prices will also be slashed by P0.30 per liter. The new round of price adjust-

ment takes effect Tuesday. Seaoil, Caltex, Shell, Petron, PTT, Phoenix, Total said they will implement their price adjustments at 6 a.m. of Tuesday, November 2. Cleanfuel, meanwhile, will implement it at 4:01 p.m. Other oil firms have yet to make their announcements. Petron, meanwhile, announced an increase of P3.10 per kilogram (kg) in LPG prices and P1.73 per liter increase in auto LPG effective November 1. The oil price adjustment for the

week is a result of the movement in world oil prices, while that of LPG reflects international contract price for the month of November. In recent weeks, global oil prices continued to reach multi-highs on tight global supply and strengthening fuel demand. Prior to this week’s price adjustments, the year-to-date adjustments stand at a net increase of P20.80 per liter for gasoline, P18.45 per liter for diesel and P16.04 per liter for kerosene.

PHL must prepare for recovery of global economy, BBM says

ORMER Senator and Presidential aspirant Ferdinand “Bongbong” Marcos Jr. is pushing for the formulation of a comprehensive plan to prepare the Philippines as the global economy starts to recover from the ravages of the Covid-19 pandemic. The Partido Federal ng Pilipinas (PFP) standard-bearer said the decision of the Australian government to lift the anti-dumping measure on Philippine pineapple canned products is a clear indication that the global economy is starting to recover. Marcos, in a news statement, said Australia’s decision is a good development, not only in the agriculture sector, but also to other sectors of the country as it proves that it can also make and strengthen Manila’s position in the global economy. In a separate statement, Marcos,

recognizing the importance of Cebu province in the recovery of the country’s economy, told Cebuanos that big urban hubs like Cebu City will be the center of development in the future. “I think we can always count on Cebu na maging [to become a] hub economic development,” he said. Such a plan, Marcos continued, is included in his “Tawid Covid, Beyond Covid” program, which aims to provide measures and strategies on how the Filipinos and the Philippine economy can improve their lives while in the midst of a pandemic and even beyond it. His plan involves strategies to address and give solutions to the problems of different sectors such as agriculture, energy, telecommunication, infrastructure, education, health and many others.

Plans for Cebu

MARCOS said he has already a lot of plans for Cebu province being the center for commerce in the Visayas region. Marcos said he is planning to continue the development his father, the late strongman and former President Ferdinand E. Marcos Sr. implemented as he recalled the creation of the Mactan Export Processing Zone, which he said is one of the main drivers of progress in Cebu’s economy. “If you remember, one of the main drivers of the progress of the economy in Cebu is the development of the port and I think we can continue that. Cebu is still the economic center of the Visayas and in some areas, it’s actually the economic center of the Philippines, so we must continue the development,” he said.

Data breaches and cybercrime must worry us in business organizations should have a data protection management program (DPMP) in place to translate the requirements of the law into their business practices.

What does a Data Protection Officer?

By Henry J. Schumacher

UPPLY chain attacks, misinformation campaigns, mobile malware and larger scale data breaches are just some of the threats to watch for next year. Given the bad news we are reading on a daily basis about data protection breaches and the good time hackers are having with our data, I feel that the holidays we are enjoying presently are a good time to familiarize ourselves again about our tasks to protect us:

What is data protection?

THE concept of data protection encompasses the collection, usage, storage of personal information, as well as disclosure or transfer of personal data. The digital age of today has made personal data the lifeblood of businesses and the economy as people freely share data and information on a daily basis. To prevent unauthorized use of the personal information of individuals by organizations, data privacy laws were introduced in many jurisdictions worldwide e.g., Europe’s General Data Protection Regulation (EU GDPR), Singapore’s Personal Data Protection Act (PDPA), the Philippines’ Data Privacy Act (DPA) and Malaysia’s Personal Data Protection Act (PDPA). Data protection laws require organizations that handle personal data to demonstrate accountability and responsibility. To be operationally compliant with the laws,

A DATA Protection Officer (DPO) is essential in today’s environment as digitalization has made it convenient for organizations to collect and analyze data for various business purposes. However, this convenience has brought about vulnerabilities and risks that may not be factored in the organization’s overall governance, risk management and compliance strategy. The main responsibility of the DPO is to assist the organization to govern how personal and sensitive data is being collected, used, disclosed, or stored within an organization according to the requirements of the data protection laws. If there are gaps in the operations that are processing personal data, the DPO works with the relevant departments to ensure that there are adequate controls to mitigate the risks and rectify the gaps. They also work with the relevant departments to ensure that the organization’s privacy policy and data protection training is updated and communicated to staff.

What qualifications do you need to be a DPO?

ALL organizations that handle personal data need to have a DPO. Other than that, the pandemic has turbocharged the digital transformation for many organizations. Companies were forced to adapt to the wave of change in delivering products and services, as well as adapt to the new remote working concept. However, digital transformation comes with digital risks and vulnerabilities—both from a security and a privacy perspective. A DPO can help the organization to transition through the change and ensure that new data protection measures are implemented to address these new risks.

Can the duties of the DPO be outsourced? You can delegate the task, but not the responsibility. Resources at the company may be stretched thin by the pandemic and therefore outsourcing a DPO may be considered. However, management should be mindful that the role of the DPO can be outsourced but the responsibility and accountability to their stakeholders still lie with them.

What is Data Protection-as-aService (DPaaS)?

EFFECTIVE data protection practices enhance customer trust and maximize a businesses’ value. DPaaS can be an integrated bundle of data protection services that enable organizations to train their DPO and set up a Data Protection Management Program (DPMP) with the data breach management function included. It could also include outsourced advisory support towards operational compliance with data protection requirements. DPaaS and DPOinBox are data protection services developed by Straits Interactive Pte Ltd of Singapore. Keep a lookout and join us in our regular data protection webinars where we bring professionals in our data protection community together to discuss, share and learn insights to drive data protection excellence within organizations. Straits Interactive partner in the Philippines, EITSC, will run its next webinar on Avoiding Data & Privacy Breaches on November 12, 2021. If you are interested,contactEITSC—www.eitsc.com. In conclusion, let’s just remember We need to achieve operational compliance with data protection laws, We need to implement data protection management programs. We need to demonstrate accountability to regulators, such as the NPC. Doing this will allow us to build trust with our customers and stakeholder. Feedback is appreciated; please contact me at hjschumacher59@gmail. com

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Task Force ‘BBB’ steps up Cagayan River rehabilitation drive By Jonathan L. Mayuga @jonlmayuga

HE Task Force Build Back Better (TFBBB) is stepping up the rehabilitation of the Cagayan River with the removal of huge sandbar that formed a mini island within the country’s largest river. Environment Secretary and TFBBB Chairman Roy A. Cimatu is hopeful of completing the dredging of the “mega” island sandbar along the Cagayan River next year. So far, a total of 81,807 cubic meters or 8.43 percent of the targeted 970,962 cubic meters of sandbar has been dredged since the rehab operation in Barangay Dummun, Gattaran town, Cagayan province started in June. “With its sheer size measuring 134.7 hectares, it is practically an island which is why this sandbar is a priority of the task force like the Magapit Narrows in [barangay] Lallo, Bangag [town] to widen the Cagayan River,” Cimatu said. The Department of Public Works and Highways (DPWH) and the Armed Forces of the Philippines (AFP) have committed to deploying additional equipment and work force to complement the dredging operations in these areas, said Cimatu. The dredged materials are being transferred to the eroded portion of Cagayan riverbanks in Barangay Dummun to restore the ideal alignment and speed up the water flow toward the river mouth in Aparri, Cagayan. Because of the continuous rehabilitation effort, DENR-Region 2 Executive Director Gwendolyn Bambalan said the Cagayan River did not overflow during the

passage of severe tropical storm “Maring” (Kompasu) in October. In a report to Cimatu dated October 14, Bambalan said only localized floods were reported in Cagayan as a result of the overflowing of lakes and rivers that drain into the Cagayan River. “Despite the massive flooding in different locations, the Cagayan River did not overflow. It did not reach its maximum capacity,” Bambalan noted. “In Sta. Teresita Cagayan, a flash flood was reported due to the overflow of Mission, Bulasing and Luga rivers, Pacac creek and irrigation canals. Flood height reached to one to two meters at Barangay Simpatuyo, while the flooding in other municipalities was localized flooding only affecting agricultural lands,” said Bambalan. Phase 1 of Cagayan River dredging activities, which focused on the constricted section of the river, called the Magapit Narrows, started in February and was completed on October 4. A total of 364,143 cubic meters of materials have been dredged, which occupied some 11 hectares along the riverbank and restored Magapit Narrows’ riverbank depth by 3 meters. This has exceeded the target of 344,304 cubic meters of dredged materials. The TFBBB, co-chaired by the DPWH was created on November 18, 2020, under Executive Order 120. It is an inter-agency body that conducts post-disaster recovery and rehabilitation efforts in areas ravaged by typhoons “Rolly” and “Ulysses.”

QC lawmakers gang up on mayor over ‘rise’ in virus cases in the city By Jovee Marie N. Dela Cruz @joveemarie

OUR members of the House of Representatives on Monday urged the Department of the Interior and Local Government (DILG) to assume full control of the Quezon City’s fight to suppress the persistent spread of Covid-19. Anakalusugan Rep. Michael Defensor together with Quezon City Reps. Anthony Peter Crisologo, Precious Hipolito Castelo and Allan Reyes complained in a joint statement about the city’s alleged “disorganized and ineffective leadership.” “On account of the local government’s poor crisis leadership, Que-

@sam_medenilla

ROVISIONS on the sectoral representation of marginalized groups are causing delays for the passage of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Electoral Code. In an online interview with PTV on Monday, BARMM spokesman Naguib Sinarimbo said the matter became the subject of a protracted debate in the BARMM Cabinet. He noted there were concerns among some of the Cabinet members on how non-Moro indigenous people, women, and settlers could be fairly represented during the BARMM

elections. “Because if all the eligible voters cast their votes, they might overwhelm these sectors [in the polls] and it will still be the will of majority which will be followed,” Sinarimbo explained. He noted, however, the said issue may soon be resolved since a “compromise” was finally reached in the Cabinet, which will allow it to submit the proposed bill to the BARMM Parliament for approval. “Majority of the members of the parliament, which is the government of the day, have sponsored the bill so we are sure it will be passed since we have the numbers,” Sinarimbo said. Due to the impact of the novel coronavirus disease (Covid-19) on

zon City continues to log on a daily basis the highest number of new Covid-19 infections nationwide,” said the lawmakers. “In fact, Quezon City’s cumulative Covid-19 caseload is now considerably higher than those of entire and more heavily populated provinces such as Cavite, Laguna, Bulacan, and Rizal,” they added. Defensor is running for the city’s highest post—challenging Quezon City Mayor Joy Belmonte. Moreover, the lawmakers also urged Interior Secretary Eduardo Año to immediately designate a senior executive to take charge of the city’s fight against Covid-19. Based on the Department of

Health’s (DOH) Covid-19 Tracker as of October 30, the lawmakers said Quezon City’s cumulative caseload has already reached 173,977—easily topping Cavite’s 160,788 cases, Laguna’s 123,507 cases, Bulacan’s 103,416 cases, and Rizal’s 102,653 cases. “If we break the figures down to cases per 100,000 population, Quezon City would still emerge with the highest number at 5,878 cases per 100,000 population, compared to Cavite’s 3,701 cases, Laguna’s 3,652 cases, Bulacan’s 2,788 cases, and Rizal’s 3,083 cases,” they said. DOH figures show that last Octrober 31, they said Quezon City had 148 new Covid-19 cases, while Zam-

boanga City had 108 new cases. The rest of the top 5 were Baguio City, with 99 new cases; Manila, with 72 new cases; and the Municipality of Lubang, with 68 new cases. “Due to recurring Covid-19 outbreaks in the city, many people are constantly put in harm’s way, while others continue to suffer from harsh restrictions, including granular lockdowns, that have made it extremely difficult for them to earn a living,” the lawmakers said. “What is happening in Quezon City now is clearly a case of inadequate governance that can only be rectified by a DILG takeover of the efforts to contain Covid-19,” they added.

Duterte admin, Congress prodded to boost Filipino makers of anti-Covid supplies as pandemic lingers By Butch Fernandez @butchfBM

HE Duterte administration and Congress were pressed anew to push timely passage of remedial legislation granting tax perks to Filipino manufacturers of anti-Covid medical supplies to create more jobs and ensure adequate supply that are not overpriced. “As much as we are protecting the welfare of our frontliners, we must not forget our backliners [who makes critical Covid-19 supplies available],” Sen. Francis Pangilinan reminded in a news statement issued on Monday, prodding concerned government agencies to “encourage them to stay the course” noting that “if factories are operating, Filipinos have jobs.” In filing Senate Bill 1759, he affirmed that the Pandemic Protection Act aims to “give incentives to local

BARMM Cabinet divided over sectoral representation of marginalized groups By Samuel P. Medenilla

Tuesday, November 2, 2021 A5

the operation of the Bangsamoro Transition Authority (BTA), including the pending BARMM electoral code, President Duterte signed into law last week Republic Act 11593, which pushed back the BARMM polls from 2022 to 2025. Sinarimbo welcomed the initiative since it will give more time to the BTA to implement the Comprehensive Agreement on the Bangsamoro. The accord includes the decommissioning of the 40,000 Moro Islamic Liberation Front combatants. “We have 12,145, who are already decommissioned. Before the end of the year, we are trying to increase it to 14,000,” Sinarimbo said.

manufacturers and producers of some of the products critical amid the pandemic, such as personal protective equipment [PPE], test kits, ventilators, face shields, face masks and other supplies.” Under his bill, Pangilinan proposed that importation of capital equipment, spare and accessories, raw materials and other needed articles are “exempt from customs duties, value-added tax [VAT], other taxes and fees such as import processing fees and other fees” imposed by the Bureau of Customs, Food and Drug Administration and other agencies. He added, “It will also exempt local sales of critical products and services from VAT.” The Pangilinan bill also requires businesses that produce and export critical products or services to supply up to 80 percent of their daily

production to government institutions, hospitals, and private establishments for local and domestic use. Senate Bill 1759 was crafted amid findings that when the pandemic broke out, Pangilinan said, “There was no one in the country manufacturing critical medical supplies.” “We were forced to import and paid more for the Covid-19 supplies, and this [was] hurting our budget, the people’s money,” the senator said, recalling that Filipino manufacturers, in responding to the needs of the times, “bonded together and repurposed their operations to be able to produce the items.” Pangilinan pointed out local manufacturers, however, “decried competition with imported medical products, which they said are often being favored by the government, despite the lack of standards and testing.”

Moreover, the senator recalled that in a recent Senate hearing, members of the Coalition of Philippine Manufacturers of PPE and the Confederation of Wearables Exporters of the Philippines also pushed for the passage of the Pandemic Protection Act. Pangilinan added: the two groups, in a joint statement at the Senate hearing, said, “We are here today, in aid of legislation, and to plead that the Senate act with immediacy on the proposed Pandemic Protection Act pending before both Houses of Congress.” “Our local manufacturers have heeded the call of the times and produced what we needed to protect ourselves against Covid-19,” the senator noted, adding, “The Duterte government, in turn, must begin to shun imported supplies and buy local. We will get the same if not better quality and at the correct price.”

Red Cross water tankers provide relief to ‘thirsty’ areas in Manila

Only online Covid-19 cash assistance applications accepted for now–ECC

HE Employees’ Compensation Commission (ECC) on Monday said it is only accepting online applications for cash assistance from workers in the private and government sector, including uniformed personnel, who contracted coronavirus disease 2019 (Covid-19) due to work or working conditions. ECC Executive Director Stella Banawis, in a statement, said the online application through ECC Cash Assistance Digital System (ECCADS) is implemented in response to the shift to contactless transactions amid the continuing pandemic. Interested applicants can apply for cash assistance at https://cashas-

sistance.ecc.gov.ph. She reminded the public that EC cash assistance applicants will have to scan their documentary requirements and upload them to the system. Among the requirements include a copy of the claimant’s approved EC claim voucher due to Covid-19 from Social Security System (SSS) or Government Service Insurance System (GSIS); copy of 2 valid IDs, preferably office or company ID, GSIS/SSS UMID card or other governmentissued ID; and medical abstract or certificate for Covid-19 illness indicating the period of medical attendance of illness or laboratory

(RT-PCR (reverse transcriptionpolymerase chain reaction)/rapid antigen) test result showing positive for Covid-19, issued by a Department of Health (DOH) accredited testing center. The ECCADS will only be available from 8 a.m. to 5 p.m. during weekdays and will initially only accommodate 100 applications per day. “ECCADS helps ensure the safety of our claimants and employees against the Covid-19,” said Banawis. Banawis added that applicants must ensure the completeness and correctness of documents to be uploaded before logging in to the system. PNA

MAYNILAD Water Services Inc. has to cut off water service in several areas in the National Capital Region and Cavite province from October 29 to November 2, 2021, to complete a pipe realignment project in Sampaloc, Manila. The activity is connected with a flood control project of the Department of Public Works and Highways. PHOTO COURTESY OF MAYNILAD

HE Philippine Red Cross, (PRC) sent water tankers to three villages in Pandacan, Manila, that is grappling with disrupted service due to a major pipe realignment work that started Friday. PRC distributed 40,000 liters of potable water to affected residents, some of whom will have services restored on Tuesday yet.

Maynilad Water Services Inc. is in the final stages of the realignment in Sampaloc, Manila, that will complement the Department of Public Works and Highways’ flood control project. PRC’s water tanker first served Barangay 870 in Pandacan, unloading 20,000 liters to more than 3,000 denizens on Saturday (October 30).

The following day, another 20,000 liters of potable water served Barangays 826 and 872. PRC deployed seven emergency response units for the two-day operation. In a statement on Monday, the PRC said it understands the need of residents for clean water for drinking, cooking, and hygiene.

A6 Tuesday, November 2, 2021 • Editor: Angel R. Calso

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editorial

Will COP26 succeed?

he 26th UN Climate Change Conference of the Parties, also known as COP26, opened on Sunday in Glasgow, Scotland and will conclude on November 12. The COP is an annual summit under the United Nations Framework Convention on Climate Change (UNFCCC), a global agreement signed in 1992 by 197 countries (or parties) to prevent “dangerous” human interference with the climate system.

As the effects of climate change intensified over the years, the COP has become a place for countries to dedicate resources to help slow down global warming. Unfortunately, it has also become a space where tensions between the rich and developing nations play out, particularly when it comes to who is responsible for climate change. From the Associated Press: “World leaders have been meeting for 29 years to try to curb global warming, and in that time Earth has become a much hotter and deadlier planet. Trillions of tons of ice have disappeared over that period, the burning of fossil fuels has spewed billions of tons of heat-trapping gases into the air, and hundreds of thousands of people have died from heat and other weather disasters stoked by climate change, statistics show.” “The yearly global temperature has increased almost 1.1 degrees Fahrenheit [0.6 degrees Celsius] since 1992, based on multi-year averaging, according to the US National Oceanic and Atmospheric Administration. Earth has warmed more in the last 29 years than in the previous 110. Since 1992, the world has broken the annual global high temperature record eight times. In Alaska, the average temperature has increased 2.5 degrees [1.4 degrees Celsius] since 1992, according to NOAA. The Arctic had been warming twice as fast as the globe as a whole, but now has jumped to three times faster in some seasons, according to the Arctic Monitoring and Assessment Programme.” The COP26 is widely viewed as a make-or-break moment for arresting global warming. Scientists have warned that time is running short to avoid rampant warming. Countries must now confirm their commitments under the Paris accord to cut emissions. UK Prime Minister Boris Johnson, who is hosting COP26, said the goal is for collective action from 197 nations to keep alive the chances of containing global warming to 1.5 degrees Celsius, an ambition spelled out in the 2015 Paris Agreement. At the recently concluded G-20 Summit in Rome, Johnson urged his fellow Group of 20 leaders to step up their game in tackling climate change before it becomes too late to rescue the most vulnerable nations from its “apocalyptic” effects. Developing nations, which are suffering the most from the climate crisis they didn’t create, have made clear that they expect rich countries to fulfill their promise of financial aid to help them adapt to climate impacts. In 2009, developed countries pledged to developing nations that they would mobilize $100 billion per year by 2020 to finance efforts to mitigate climate change and adapt to its effects. That pledge remains to be fulfilled. The Organization for Economic Co-operation and Development said the developed world has fallen short by a significant margin—they only mustered $79.6 billion in 2019, a modest increase over the $78.3 billion mobilized in 2018. In September, US President Joe Biden doubled the amount he had earlier pledged in climate aid for developing nations to $11 billion. That figure, however, remains uncertain, as it requires congressional approval. Patricia Espinosa, head of the UN climate office, declared at the summit’s opening: “Government leaders face two choices in Glasgow. They can sharply cut greenhouse gas-emissions and help communities and countries survive what is becoming a hotter, harsher world. Or we accept that humanity faces a bleak future on this planet.” Pope Francis urged the crowds gathered in St. Peter’s Square on Sunday: “Let us pray so that the cry of the Earth and the cry of the poor” is heard by summit participants. We therefore pray that world leaders in Glasgow will hear the “cry of the Earth and the cry of the poor.” We hope they realize that time is running out, and they have no choice now but to seriously face the scourge of climate change. To borrow from the UK prime minister, “If Glasgow fails then the whole thing fails.”

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THE Entrepreneur

he Philippines, in a general sense, is in a quandary about how fast it should reopen the economy now that more and more Filipinos have been vaccinated. Many sectors are divided on the issue. But one thing is clear: the economy cannot be hostage forever to the virus. As a nation, we have learned from experience that we can live with the virus, which will not simply go away, and reopen the economy at the same time. We opted for granular lockdowns to slow down the rise of infections, instead of a general containment of the population that shackled the Philippine economy in recent months. The selective lockdowns worked —the daily Covid-19 cases have dropped to as low as 3,000 plus last week while more and more Filipinos are joining the labor force amid looser mobility restrictions. The higher vaccination rate allowed our health authorities to reopen the economy, and I see no reason why they should not lower the alert level in Metro Manila from the current alert level 3 to alert level 2. Authorities, for one, can gradually increase the capacity of public trans-

portation, notably the rail system, to bring more workers to their job sites. Commuters in Japan and Hong Kong have been traveling by train and on public buses with no noticeable spike in Covid-19 cases because they simply observed the health protocol of wearing face masks. The higher vaccination rate in Japan, of course, allowed its public transportation to accommodate more passengers. Japan has fully vaccinated 90.2 million people, or 71.6 percent of its total population. Metro Manila’s vaccination figures are not that far from Japan’s. About 86 percent of the target population of 70 percent in the capital region, or nearly 7.8 million, have received at least one vaccine dose. The risk of infection, thus, is low among our commuting public in the capital region, if the train ridership is increased from the current

50 percent capacity to 70 percent or higher. The Philippines, to give our readers a perspective, has given at least one jab to 52.3 million Filipinos. About 24.3 million are fully vaccinated, or 22.2 percent of the entire population of 111 million as of Friday last week. Raising the load of our public transportation, not only in Metro Manila but also in the provinces as well, is in sync with government’s decision to increase the capacity of restaurants and dining places and reopen public parks and tourism destinations. We are easing the plight of our workers and creating more employment opportunities. The further reopening of the economy through increased capacities in business establishments, especially the small- and mediumscale enterprises, has a direct impact on employment. Per the estimate of the National Economic and Development Authority, shifting to alert level 2 will increase the gross domestic product to P3.6 billion and generate 16,000 more jobs a week. The same estimates show that a shift to alert level 1 from alert level 2 will raise the GDP by another P10.3 billion and further create 43,000 jobs. Some sectors, including members of the Philippine College of Physicians, meanwhile, fear that the Philippines may face a fourth wave of infections if authorities relax quarantine restrictions too quickly,

COP-OUT 26 and the energy crisis John Mangun

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The economy is a major part of the Covid equation

OUTSIDE THE BOX

he 2021 United Nations Climate Change Conference (COP26) is taking place in Glasgow, Scotland. Note this is the 26th conference with the last 25 meetings much the same. About the only thing that has changed is that every year the final doomsday date is pushed a little farther into the future. At COP-1 the world only had a very few years to stop Armageddon. At COP-26, “2030 emissions reduction targets that align with reaching net zero by the middle of the century.” Alongside that goal is expert analysis like this: “Average sea levels around the world are now all but certain to rise by at least 20 to 30 feet.” Very scary thought until you read, “If seas rise 20 feet over the next 2,000 years, our children and their descendants may find ways to adapt.” Then again, “If seas rise 20 feet or more over the next 100 to 200 years—which is our current trajectory—the outlook is grim.” Except that “current trajectory” is

based on “The sea level rise rate in 2016 is estimated at 3.4 millimeters per year [0.13 inch],” according to the Smithsonian Institution’s Ocean Initiative. It would take 10 years for the sea level to rise more than one inch, so 2,000 years—not 200—for 20 feet might be accurate. Will there be a COP-2026 then? COP attendees are serious about climate change. In less than two weeks Prince Charles has managed, on private jets and helicopters, to travel over 16,000 miles and emit more than 160 tons of CO2, more than 18 times that which the average British person emits in one year. In the meantime, the Net Zero lu-

nacy of the amount of greenhouse gas produced and the amount removed being balanced has, is, and will continue to destroy economies. I was wrong. Much has changed since COP-1. Oil was $17 per barrel then and global GDP growth was 3 percent. Now oil is $80 per barrel and 2020 global gross domestic product growth was a negative 3.4 percent. Economies have been killed by the pandemic, but high oil prices will continue to drive a stake in the global economic heart. A goal of COP-26 is to “accelerate the phase-out of coal.” I have no problem with that at all as coal is dirty. Coal consumption declined in 2020, the biggest drop since World War II. But coal generates nearly 40 percent of the world’s electricity. And there are now 80 countries using coal power, up from 66 in 2000. Further, in 2020, US coal production fell to its lowest level since 1965. Worldwide coal production declined 6.5 percent in 2020. Meanwhile, in the past nine months the US has become a net importer of crude oil from being a net exporter. Wind and solar is “renewable” but often not “reliable.” However, we could see a 20-30 percent drop in crude oil demand by 2030.

especially in the capacity of public transportation. Their apprehensions are not unfounded. Covid-19 cases are spiking in some European countries, notably the UK where the daily infection rate is hitting 40,000 cases despite high vaccination coverage. Russia is recording about the same daily rate, while Ukraine is posting almost 27,000 cases daily. In Asia, Singapore registered 3,432 new cases last Thursday. The UK is experiencing a spike after its government did away with the mask mandate and because of a new mutation, while Russia lags in vaccination rate. But the Philippines is not necessarily creating superspreader events through looser restrictions. Local government units can prevent superspreader events and should remain strict in the enforcement of health protocols, like wearing of face masks and social distancing, despite the increasing vaccination rate. The Philippines is now considered a low-risk nation after the two-week attack rate within Metro Manila fell to 52 percent, while the average daily attack rate dropped to 9.87 percent. The Covid-19 bed utilization rate in the region also declined to 39 percent. All these positive data point to a further reopening of the economy.

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This creates two problems, one geopolitical and the other economic. If this scenario is fulfilled Opec+ will need to make as much money as possible in the next 10 years. Even now, Joe Biden is begging Opec to increase production. The EU is begging Vlad Putin to ship more natural gas. Saudi Arabia diplomatically said current policies are “working well.” Translation: Opec+ will not boost production and seems to enjoy showing how powerless Joe Biden really is. Putin said increasing gas shipments would not be a problem. That is, as soon as the Nord Stream 2 pipeline is allowed to come online, effectively taking former Soviet bloc now US/Nato super-friend nations like Ukraine out of the pipeline business. Further, the US is now doing everything it can to pander to “environmentalists” by making energy companies afraid to invest in expanding their operations to provide more fossil fuel resources. Unfortunately, lower supply and increased demand means higher process. It is going to be a long, cold winter. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

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TELLTALES

Onwards

certain technology has made millionaires (and even billionaires) out of twenty-something-year-olds. I personally know several students who earn five figures in a few days because of it. It is an inevitable technology that is quickly becoming mainstream, and it’s best to prepare for it especially for those involved in business, investing, and technology. Unfortunately, we tend to dismiss conversations that involve this technology, all because of opinions of others who aren’t familiar with it either. I’m referring to blockchain technology, especially cryptocurrency. Who hasn’t heard of Bitcoin? Discussions about blockchain technology are often quickly dismissed by those unfamiliar with the concept. “It’s too volatile, too complicated, and it won’t last,” skeptics say after rolling their eyes, although most of them haven’t researched it enough. And we listen to these skeptics because that is a lot easier than having to learn from experts younger than us. We lose opportunities this way. Meanwhile, young people are mastering this technology, developing new applications, and profiting huge sums from them. I was skeptical at first, too. Blockchain was a topic in one of my classes last year, and I quickly dismissed it as a fad because of what I’ve heard about it. But I later learned that this technology has been around for decades, with Bitcoin— the most popular use of blockchain technology right now—being around for 13 years already and it continues to grow in popularity. Eventually, I did my own research and found that this technology is something worth exploring or at the very least, understanding. It’s already coming anyway, so there’s nothing to lose by learning how it works and its practical uses early on. I learned that blockchain technology caused the rise of cryptocurrencies and, interestingly, play-to-earn games such as the very popular Axie Infinity. Put very simply, the game works like this: the game is built on blockchain technology, and it rewards players with cryptocurrency, which can be converted to legal tender, i.e. Philippine peso or in dollars. There are “managers” who have the money to invest in the game, and they have “scholars” who play the game for them. The managers and scholars split the income on their own terms, allowing young people to earn in the thousands just by playing a few hours a day. It’s an emerging industry that allows young gamers to earn while doing what they love—playing games. In a pandemic where everyone is looking for sources of income, what’s a better business model than a platform that enables customers to earn, too? This is a disruption of the gaming industry which traditionally only made the game creators rich. Now, players can earn by playing games, so the phrase “kakacomputer mo

yan” takes on a different meaning. Of course, there are other modes of earning from playing games, such as by streaming, YouTube, and competing in tournaments with cash prizes, but these play-to-earn games reward players directly for their wins. It’s something worth exploring, provided that diligent research is done beforehand. Cryptocurrencies by themselves are a disruption, too. 1 Bitcoin on November 1, 2020 was worth almost P1 million. Today, 1 Bitcoin is worth triple that amount. Other cryptocurrencies can even triple in value in a span of days, the same way their value can slide down in the same span of time. This provides the basis for the hesitation of investors who aren’t interested in volatile investments, but it’s interesting to understand this because these cryptocurrencies don’t behave like traditional assets. There really are high risks and high rewards. If anything, one lesson to potentially learn from cryptocurrencies is how it explains the young generations as consumers and investors. Of course, this is not financial advice nor am I saying that everyone ought to go all-in on blockchain technology and every new tech that comes along. Like every other industry in the world, not everything is made for everyone. But growing technologies such as blockchain (and more recently, the metaverse, as Facebook is currently exploring) are becoming more accessible and mainstream, and they are growing so huge that we cannot pretend they aren’t here. The least we could do is understand it based on data and facts. In this era of disruptions by new tech, staying updated is indispensable if we want to succeed. The point is this: we neither learn nor earn from uneducated skepticism. It’s unfortunate to see so many intelligent people succumbing to the opinion-based bandwagon. If we base all our decisions on pure opinions without fact-checking, we lose opportunities. On the other hand, we don’t lose anything from doing our own research to see if something is worth exploring considering our own personalities, means, and skills. If it isn’t made for us, then at least we decided by ourselves, and not just by following the opinions of an underresearched crowd. If it turns out that something new is perfect for us, then we have a whole new and exciting path to explore. No financial advice here. For feedback, send an e-mail to lyca.balita@ gmail.com

tudies show that the mental well-being of people is a major casualty of this pandemic. Isolation, financial insecurity and, worse, bereavement trigger mental conditions and exacerbate existing ones. These cause stress, anxiety, loss of sleep and even drinking or drug use if not addressed appropriately. Severe isolation caused by long lockdowns, or quarantine, designed to protect the individuals from the pandemic may lead to mental and neurological problems. People under such conditions become even more vulnerable to the Covid-19 they fear from. It becomes a Catch-22 situation. More than ever, instead of isolation, people should establish social connections. Serious concerns about mental health are increasing amidst this pandemic and efforts to contain them have become a part of the integrated solution to the pandemic. Thus, mental health services have become a major component in our battle against the coronavirus. The WHO has asked governments around the world to augment their funding for mental health services. But direct mental health care given by our healthcare system is not the only way to meet this menace. There are other psychosocial services and provisions that can help resolve this growing problem. And one potent answer is the co-housing program, which is now gaining adherents in many cities around the world. What is “co-housing”? Authorities invariably define it as “an intentional community of private homes clustered around shared space.” It may be set up horizontally or vertically. In urban areas where land is limited, it is typically a multi-level

housing structure to make provisions for private spaces, as well as common areas. Where the land permits, as in the suburbs, single family homes are clustered around a common house with shared facilities. It can include common playground and parking to maximize the use of space. Each private unit has its own toilet and bath, small kitchen and living room and the bedroom. Amenities like the work area, laundry area, play area or gym, garden, a large kitchen and dining place and even a pool are shared in common. Or they put up a common library where their treasured books are made available to others who share their passion in reading. Others provide a karaoke or music room where frustrated singers can vent their discordant voices till their lungs burst. The most important benefit of those living in co-housing is companionship. It is ideal for those who don’t want to live alone yet are zealous to keep their privacy. If they get lonely they can go out of their private unit and stay in the common work area or living area where they can meet

The Glasgow climate test

By António Guterres UN Secretary-General

he climate crisis is a code red for humanity. World leaders will soon be put to the test at the UN Climate Conference—known as COP26—in Glasgow. Their actions—or inactions—will show their seriousness about addressing this planetary emergency. The warning signs are hard to miss: temperatures everywhere are reaching new highs; biodiversity is reaching new lows; oceans are warming, acidifying and choking with plastic waste. Increasing temperatures will make vast stretches of our planet dead zones for humanity by century’s end. And the respected medical journal The Lancet just described climate change as the “defining narrative of human health” in the years to come— a crisis defined by widespread hunger, respiratory illness, deadly disasters and infectious disease outbreaks that could be even worse than Covid-19. Despite these alarm bells ringing at fever pitch, we see new evidence in the latest UN reports that governments’ actions so far simply do not add up to what is so desperately needed.

Recent new announcements for climate action are welcome and critical—but even so, our world is on track for calamitous global temperature rises well above 2 degrees Celsius. This is a far cry from the 1.5 degree Celsius target to which the world agreed under the Paris Agreement—a target that science tells us is the only sustainable pathway for our world. This target is entirely achievable. If we can reduce global emissions by 45 percent compared to 2010 levels this decade. If we can achieve global net-zero by 2050. And if world leaders arrive in Glasgow with bold, ambitious and verifiable 2030 targets, and new, concrete policies to reverse this disaster. G-20 leaders—in particular—need to deliver. The time has passed for diplomatic niceties. If governments—especially G-20 governments—do not stand up and lead this effort, we are headed for terrible human suffering. But all countries need to realize that the old, carbon-burning model of development is a death sentence for their economies and our planet. We need decarbonization now, across

Ease of paying taxes under House Bill 8942 Atty. Rodel C. Unciano

Tax Law for Business

ouse Bill 8942 or the proposed Ease of Paying Taxes Act has recently been approved on third reading at the House of Representatives. This is certainly good news for all taxpayers as the bill aims to modernize tax administration and improve tax compliance by simplifying compliance procedures and strengthening the taxpayer’s bill of rights.

The bill seeks to establish reasonable criteria for classifying taxpayers, taking into consideration the taxpayer’s capacity to comply with tax rules and regulations, the amount and type of tax

paid, the gross sales and/or receipts of the taxpayer, inflation, volume of business, wage and employment levels, and similar economic and financial factors. The Secretary of Finance shall provide a

classification for large and medium taxpayers and introduce additional classifications of taxpayers as may be necessary and reasonable to achieve better service and tax administration. For every class of taxpayer, the Bureau of Internal Revenue (BIR) may provide for a special unit to specifically cater to the needs of taxpayers under such classification. This is in recognition of the varying ability of taxpayers to settle their tax obligations. For ease of compliance to tax rules and regulations, simplified tax returns and processes shall be implemented for taxpayers not classified as medium or large. As to the registration requirements, the bill proposes to remove the requirement of indicating a business style in the taxpayer’s registration with the BIR. The bill likewise seeks to remove the imposition of the annual registra-

tion fee currently imposed under Section 236(B) of the Tax Code. Also, the bill seeks to ensure that registration facilities would be available to taxpayers who are not residing in the country. As to the invoicing and accounting requirements for value-added tax-registered taxpayers, the bill seeks to unify the requirement for VAT documentation, requiring only a VAT invoice for every sale, barter or exchange of goods or properties, lease of goods or properties, and for every sale, barter or exchange of services. Under the bill, the requirement for the issuance of VAT official receipt for lease of goods or properties, and for sale, barter or exchange of services shall no longer be required. The bill likewise seeks to strengthen the taxpayer’s bill of rights, specifically the taxpayer’s right to pay no more than the correct amount of tax, right to a fair

Tuesday, November 2, 2021 A7

and interact with the other residents of the commune. Work-at-home arrangement amplifies the need for social connection. A company lessens the impact of lockdowns. They do not have to work in isolation and they can recreate the office environment where they find themselves most productive. If they get tired working, they can join others in the lounge area or living room where they can have idle chatter or spirited talks with others to overcome ennui and stimulate their minds. If they want more strenuous activity, they can go to the gym and stretch their muscles or dip in the pool. Humans are social animals. They like to seek company and enjoy being together. Being with others, especially those who they share common interest with, can relieve anxiety and stress. So admitting members of the commune is done through consensus voting to ensure that they share the same inclinations and interests, and a sense of community. It is similar to membership admission in an exclusive club. The members contribute dues for the upkeep and maintenance of the common resources. No doubt that co-housing can promote mental well-being. Having good neighbors and co-residents in the same place develops a sense of security and belongingness. There is an increased social support, which enhances their feeling of security. Being part of a “family” can help overcome fear and depression. Co-housing brings people together who are otherwise strangers to each other. Maintenance of the common areas compels collaboration and team efforts, which further build relationships. They treat each other like a family and so the bond is lasting and enduring. From the economic standpoint, co-housing entails cost-sharing,

which will help singles and start-up families with lower income to meet the high cost of living in the urban areas. Splitting of expenses for the food at the common kitchen, utilities and maintenance of the common areas will make city life affordable. A common security and househelp can be hired to serve the needs of everyone. Low earners can enjoy life’s amenities at least cost. It promotes less use of Earth’s resources—electricity, fuel and water—and helps mitigate climate change without sacrificing the quality of life. Co-housing has its distinct advantages. Admittedly, it has its drawbacks, but generally its success depends on the kind of governance set up by its members. An ideal number would be 10-12 members, much smaller than a typical neighborhood association or condominium association where the members hardly know each other. In condo living, the occupants are walled against each other. You do not even know your neighbors’ names, neither see nor talk to them. Protecting one’s privacy is the end-all and be-all of condo existence. Whereas, co-housing is structured to have opportunities for meeting and interaction through the common areas. Privacy is still guarded inside one’s own premises. From the government perspective, it makes housing affordable to many people. It can help address the housing crisis, which is a major problem of our government. Maybe the government can review its housing program by including the development of co-housing projects particularly in the cities. Pag-IBIG, the banks and other lending institutions can provide funding support for co-housing projects. It will not only help resolve our acute housing needs but the gentrification of our blighted cities.

every sector in every country. We need to shift subsidies from fossil fuels to renewable energy, and tax pollution, not people. We need to put a price on carbon, and channel that back towards resilient infrastructures and jobs. And we need to phase-out coal — by 2030 in OECD countries and 2040 in all others. Increasing numbers of governments have pledged to stop financing coal—and private finance needs to do the same, urgently. People rightly expect their governments to lead. But we all have a responsibility to safeguard our collective future. Businesses need to reduce their climate impact, and fully and credibly align their operations and financial flows to a net-zero future. No more excuses; no more greenwashing. Investors—public and private alike—must do the same. They should join front-runners like the net-zero asset owners alliance, and the UN’s own pension fund, which met its 2021 carbon reduction investment objectives ahead of time and above its target, with a 32 percent reduction this year. Individuals in every society need to make better, more responsible choices in what they eat, how they travel, and what they buy. And young people—and climate ac-

tivists—need to keep doing what they’re doing: demanding action from their leaders and keeping them accountable. Throughout, we need global solidarity to help all countries make this shift. Developing countries are grappling with debt and liquidity crises. They need support. Public and multilateral development banks must significantly increase their climate portfolios and intensify their efforts to help countries transition to net-zero, resilient economies. The developed world must urgently meet its commitment of at least $100 billion in annual climate finance for developing countries. Donors and multilateral development banks to allocate at least half their climate finance towards adaptation and resilience. The United Nations was founded 76 years ago to build consensus for action against the greatest threats facing humanity. But rarely have we faced a crisis like this one—a truly existential crisis that—if not addressed—threatens not only us, but also future generations. There is one path forward. A 1.5-degree future is the only viable future for humanity. Leaders must get on with the job in Glasgow, before it’s too late.

and just tax system, right to be informed with timely and easy to understand information, right to quality tax education and service, right to consistent and transparent application of laws, right to have the classification of taxpayer considered whenever tax rules are prepared and enforced, right to privacy and confidentiality of information, right to speedy disposition of tax investigation cases and other similar actions, and right to be protected against malicious, excessive and wrongful assessments, among others. To ensure that the rights of the taxpayers are protected, the bill seeks to establish a Taxpayer’s Advocate Office, which shall be under the supervision and control of the Department of Finance and independent from the BIR. The Taxpayer’s Advocate Office shall identify systemic problems with the

BIR that hampers efficient and fair tax administration and propose changes to mitigate identified problems. Simplified procedures in paying taxes plus guaranteed taxpayer’s rights against undue tax assessments will certainly encourage taxpayers—small and medium taxpayers alike—to pay what is due to the government.

The author is a partner of Du-Baladad and Associates Law Offices (BDB Law), a member-firm of WTS Global. The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at rodel.unciano@ bdblaw.com.ph or call 8403-2001 local 140.

A8 Tuesday, November 2, 2021

‘Easing frozen pork sale rule to harm public, producers’ By Jasper Emmanuel Y. Arcalas

@jearcalas

IG raisers belonging to the National Federation of Hog Farmers Inc. (NFHFI) oppose the idea of easing government rules on the sale of imported frozen pork in wet markets, arguing that it will harm consumers' health and local production. NFHFI President Chester Warren Y. Tan said relaxing the Department of Agriculture's (DA) Administrative Order (AO) 6 series of 2012, which outlines the guidelines on handling frozen meat in wet markets, will benefit neither consumers nor producers. Reacting to Socioeconomic Planning Secretary Karl Kendrick T. Chua's recent statement, Tan pointed out that relaxing AO 6 is tantamount to sacrificing the country's precautionary health measures and

safeguards of good practice in handling meat products. "Is this the only way to solve the problem, by reversing or not respecting our AO, by relaxing it? This will definitely not benefit the local producers," he told the BusinessMirror. "It seems irresponsible to comment and suggest that imported pork be allowed to be sold in the wet markets without refrigeration," he added. Tan claimed it is common knowledge in the country that frozen meat

"easily gathers bacteria and spoils faster" compared to fresh pork when thawed. "Does the government want to distribute frozen pork in wet markets even if they do not have freezers?" he said. "It is not the fault of hog raisers if consumers prefer fresh local Filipino pork than frozen pork," he added.

Easing of rules

LAST week, Chua said the government must ease its rules on the sale of frozen pork to wet markets to further temper food inflation, which he noted remains elevated due to expensive pork products. Chua noted that pork prices remain high in areas outside the National Capital Region (NCR) since certain existing government rules hinder the sale of imported frozen pork to wet markets. “One reason for that is some restrictions that prevent some of these imported supplies from being sold elsewhere, especially in wet markets. This is something we think should be more relaxed so more people can benefit,” he explained. Chua was referring to a decade-

old government rule that imported frozen pork cannot be sold in wet markets unless vendors are equipped with the right refrigeration system to properly store, handle and display these meat products. Under AO 6, chilled meat products sold to market should not be frozen and shall maintain a temperature not higher than 10 degrees Celsius, while frozen meat should be stored, held and sold at a temperature not higher than zero degrees Celsius and should be stored in a meat cold storage at less than -18°C. (Related story: https://businessmirror.com.ph/2018/04/21/phls-stiffmeat-trade-rule-stays/)

Not inflation alone

TAN also urged the government, particularly Neda, to assess the market situation holistically and not base their policy recommendations on inflation alone. Tan said recent policy statements of government officials signal that the country is still leaning toward more imports than supporting domestic production.

PING EXHORTS YOUTH TO PICK CAREERS IN AGRICULTURE

HE youth and student sector must seriously consider a future in the agriculture industry as a way of bolstering food security, Senator Panfilo Lacson said at the weekend, adding that there are good careers in the farm sector. Addressing business leaders at an economic forum featuring presidential aspirants over the weekend, Lacson said he is urging the youth sector to "consider taking more courses related to agricultural development instead of focusing on liberal arts education." The senator cited the "apparent productivity gap between blue- and white-collar workers, especially among the members of our youth sector who are preparing to join the labor force." "It seems our youth has put their focus on liberal arts," he noted, adding: "So, why don’t we just introduce a new concept wherein State University and Colleges (SUCs), especially those in agricultural areas of the country, focus on teaching courses pertaining to agriculture?" His pitch on agriculture education comes after a recent warning by Agriculture Secre-

tary William Dar that, unless the education-jobs mismatch is addressed, the Philippines could see its farm labor dwindling to critical levels. In the next 12 years. A dec l a red president ia l aspira nt in t he upcoming national elections, Lacson noted t hat refor m ing t he Philippine education system is definitely going to be part of his economic agenda, especially in terms of developing the growth mindset of Filipino children aged 15 years and older. Recalling a recent international study, the senator aired serious concern over the assessment that only 31 percent of 15-year-old Filipinos hold a growth mindset; that means 69 percent of them have no plans of continuing their education. “We should change that mindset. You know, that’s really dangerous,” Lacson laments, noting that “growth mindset stops at 15 years of age.” He reminded his audience there are unused appropriations under the expenditure program of the Department of Education that needs to be addressed. Continued on A2

Continued on A2

Duterte, De Lima have prayers at ‘Undas’: For frontliners, EJK victims

RESIDENT Duterte and his top critic, detained senator Leila M. de Lima on Monday both asked Filipinos for prayers—he, for the frontliners in the war against Covid-19, and she, for justice for all the victims of violence and senseless killings in the country. Duterte, in a message for the nationwide observance of All Saints’ and All Soul’s Day or Undas, urged the public to pray for the frontliners who died during the Covid-19 pandemic. In a brief statement on Monday, Duterte recognized the contribution of the workers, who died while in the line of duty while assisting in local efforts against Covid-19. "We pray for those who died because of Covid-19 and we also pray for those who have sacrificed life and limb to save more lives and keep us safe," he added. As of October 31, 2021, the Department of Health (DOH) reported 43,172 people died from Covid-19 infection nationwide, including healthcare workers and other frontliners. During the two-day religious holiday this year, Duterte appealed to the public to reflect and be grateful "for the gift of life and the promise of eternity" amid the ongoing pandemic. "As we follow the example of the saints and pray for our loved ones who have passed on, let us also pray for each other, especially during this pandemic," Duterte said.

De Lima: Strength, justice

For her part, De Lima also said she constantly prays for strength and healing of all the Filipino families who continue to suffer for losing their loved ones amid the pandemic. “Dalangin ko po ang patuloy na lakas, tatag at kapanatagan

ng loob ng bawat isa sa atin sa kabila ng patuloy na pangungulila at banta ng krisis. Patuloy ko ring ipinagdarasal, hinahangad at ipinaglalaban na makamit na ng mga biktima ng karahasan at pamamaslang ang hustisya,” she said. “Dahil paano nga ba masasabing ‘namayapa’ sila kung patuloy namang naghuhumiyaw para sa katarungan ang pamilya ng mga biktima?” she asked. [I continue to pray for strength and mental and spiritual fortitude for all of us amid the deep anguish over the loss of lives and the threat of the pandemic. I will also keep praying and fighting for justice for all victims of violence and killings. [Indeed, how can it be said that they are in eternal repose if the victims’ families continue to cry to the heavens for justice?]” Every November 1 and 2 of every year, Filipinos gather in cemeteries to visit the graves of their loved ones and pay their respects by lighting candles, offering flowers, and praying for their souls. This year, just like last year, however, many families will not be able to pay homage to their loved ones as local government units (LGUs) announced that cemeteries will be closed during Undas. Amid challenges, the senator from Bicol urged Filipinos to continue showing compassion and love to each other. She has filed her certificate of candidacy for reelection to the Senate, where she served less than two years before being clapped in jail on drug-related charges that she insists were concocted by the Duterte administration because of her criticism of his record of human-rights violations.

Samuel P. Medenilla

A CONSTRUCTION crew from Maynilad lowers a cross-under pipe into a trench to replace the pipe segment that was removed to clear a path for the DPWH’s drainage line for its flood-control project, at the corner of Taft Avenue and Pablo Ocampo Street in Manila. Mobile water tankers have been deployed over the long weekend in areas affected by the closing of the pipe networks. ROY DOMINGO

‘Antiquated’ poll code needs overhaul—Guia By Samuel P. Medenilla @sam_medenilla

HE misuse of candidate substitution, unregulated online and social media advertising, legislative hurdles for online voting are just among the symptoms of an "antiquated" Election Code, which needs a long-overdue update, according to a former Commission on Elections executive. In a phone interview on Monday, retired Comelec commissioner Luie Guia told BusinessMirror lawmakers should finally consider a "holistic" review of the 1985 Omnibus Election Code, which he said no longer reflects the needs of the current times. He noted that as early as 1993 there was already a proposal to update the current Election Code, which even includes a provision for providing certain flexibility to Comelec to adopt new technology as well as additional restrictions for the substitution of candidates.

Pending reform

HOWEVER, he noted the said legislation was never passed, left by the wayside as other economic and social reforms were pursued. This, he said, resulted in the numerous issues currently being faced by Comelec. "It is the electoral system, which will implement the said social and economic reforms. But it usually does not get much attention since it is not a 'sexy' topic," Guia lamented. "Why is there corruption in the government? It is because of the existing system, which allows them to get elected. Isn't addressing the system important?" he added. He noted there were attempts by Comelec to come up with a draft new Election Code, but it was never passed into law.

Piecemeal reforms

INSTEAD of the updated Election Code, he said Congress opted to go for a piecemeal modernization of the election system such as the Automat-

ed Election System and the Party-List System Law. But, he pointed out, such a compartmentalized approach could cause certain issues in the election system since, he explained, changing one aspect of the polls could affect its other factors. He cited the example of the recent proposal of some lawmakers to abolish substitution, which h e s a i d i f i m p l e m e n te d m ay deprive some parties of a potential representative in an election in case their candidate will face unforeseeable circumstances such a death or disqualification. The said 1993 bill tries to address this by banning the withdrawal of candidates and just allowing substitution in case a candidate dies or is disqualified. Whether such an approach is practical or not, Guia said it will be up to the lawmakers to decide, but what is important, he added, is for the amendment to be done in con-

sideration of other factors of the elections.

Election agenda

THE updated Election Code could also address many of the restrictions that prevent Comelec from introducing innovation in the conduct of polls such as online election and regulating online election ads. " E ve n w i t h i n t he e x i s t i n g Constitution, you can modernize the legal framework. Like for instance, you recognize what technology could bring to the process. so you just provide the standards and parameters for it," Guia said. The former Comelec official hopes the matter will finally be addressed by the candidates in the 2022 polls as part of their election agenda. "The democratic process we need, which will allow the people to express their agenda better. So you have to look at the structure of how it could be possible, This comes with political reforms," Guia said.

Companies BusinessMirror

Editor: Jennifer A. Ng

Tuesday, November 2, 2021

IMI trims losses in Jan-Sept as revenues rise by 23% By VG Cabuag

@villygc

yala-led Integrated MicroElectronics Inc. (IMI) said its losses in January to September narrowed to $5.32 million from last year’s $11.93 million, partly as a result of the recovery in its revenues.

Revenues grew 23 percent to $972.97 million, from last year’s $788.62 million. For the third quarter alone, it still posted a loss of $1.27 million from last year’s income of $9.1 million. The company said it recorded $326 million in revenues in the third quarter, a sequential 2-percent

growth against the previous quarter and 4 percent better than last year’s $312.44 million. Customer orders and the project pipeline remain robust as demand for electronic products outpaces global supply, it said. Additional growth and business margins are still suppressed by chal-

lenges in the supply chain as new rounds of government mandated restrictions slow down the recovery of major suppliers in the component industry. Global freight expenses have also risen with widespread port congestions and shipping container shortages hindering international operations, the company said. “Customer demand is still strong and we continue to win projects in strategic segments of the industry. However, the extended component shortage is forcing us to delay a significant amount of business,” IMI President Jerome Tan said. “Just as supply chain challenges were starting to show signs of easing, rising Covid-19 delta cases in chip manufacturing regions has pushed back the recovery timeline. The situation has been further complicated by global shipping bottlenecks and expensive logistic expenses in 2021.”

Tan said the industry expects a “staggered recovery” in 2022, when manufacturers expect to clear the order backlogs in their facilities. “In the meantime, we continue to collaborate with customer and supplier partners as we navigate this challenging operating environment.” The company said its whollyowned businesses had revenues of $249 million in the third quarter, a 5-percent growth from last year. Meanwhile, VIA Optronics and Surface Technology International (STI Ltd.) revenues reached $77 million for the quarter, a 4 percent year-onyear growth. “With order books continuing to show strength, IMI management teams across the globe are balancing the need to bolster manufacturing and technological capabilities while also driving efficiency and minimizing operational expenses.”

NGCP seeks to recover ₧113.28M By Lenie Lectura @llectura

he National Grid Corporation of the Philippines (NGCP) is asking regulators to recover P113.28 million which it spent for the repair, restoration and rehabilitation of transmission assets and facilities damaged by typhoons last year. NGCP said the amount was used to repair facilities in areas struck by Typhoons Quinta and Rolly in Luzon, and Typhoon Vicky in Mindanao. T he a mou nt c on s i s t s of P77,778,759.26 in Force Majeure Events (FME) capital expenditures

Meralco to retire Binondo substation

(capex), operational expenses (opex) and P35,501,992.46 in net fixed asset value of the transmission facilities. If approved, additional network charges for Luzon and Mindanao will be collected starting January 2022 until December 2025, or until such time that the amounts incurred are fully recovered. In particular, NGCP proposed to collect P0.0012 per kilowatt hour (kWh) in 2022, P0.0001 per kWh in 2023, P0.0002 per kWh in 2024 and P0.0002 per kWh in 2025 in Luzon. For Mindanao, collection will amount to P0.0001 per kWh every

year during the four-year period. “The rehabilitation of these assets damaged by the Force Majeure Events [FME] required significant capital infusion, the recovery of which should be allowed immediately in order to avoid any financial strain in the operation of NGCP and to allow the continuous provision of transmission services to the grid customers,” the company told the Energy Regulatory Commission (ERC). The timely implementation of the force majeure pass-through amounts will allow an even spread of the increases in tariffs from the initial

implementation of the recovery of the cost, it added. NGCP said some of its transmission lines were toppled, and various telecom equipment were also damaged due to the intensity of Typhoon Rolly, thus affecting the operations of the Luzon System Operations and the delivery of transmission assets in the affected areas. Typhoon Vicky, meanwhile, caused a landslide that damaged NGCP’s Bislig substation in Mindanao. NGCP said it immediately started the repair to fully restore transmission service to its customers.

Cebu Pacific transports 25M vaccines

HE Manila Electric Co. (Meralco) has asked permission from the Energy Regulatory Commission (ERC) to retire its Binondo substation, one of the utility firm’s oldest substations, which has been in service for more than 50 years. “The issuance of provisional authority is warranted considering that there is no reason to continue operating the Binondo substation as the loads thereof may be transferred to adjacent source circuits. More importantly, the conversion of the loads of Binondo substation to 34.5 kilovolt (kV) circuits of Tutuban and North Port will result in reduction of technical system loss and improvement of the electric service by phasing out isolated odd-voltage system,” it said in its six-page application. Meralco said the retirement of the Binondo substation will have no impact on Meralco customers because the load of its 6.24 kV circuit may be readily be transferred to the 34.5kV circuits. Moreover, the transfer of said load would eliminate the redundancy. Also, approximately 255,883-kilowatt hour annually will be reduced from the overall technical system loss upon retirement of the Binondo substation’s power transformer banks and complete conversion of the 6.24 kV circuits to 34.5 kV. Lenie Lectura

Contributed photo

By Lorenz S. Marasigan @lorenzmarasigan

UDGET carrier Cebu Pacific on Monday said it has transported over 25 million Covid-19 vaccines since March, supporting the vaccination drives in different areas of the country. Over the past three weeks, CEB airlifted vaccine doses to 17 provinces namely: Bacolod, Butuan, Cagayan de Oro, Davao, Dipolog, Dumaguete, General Santos, Iloilo, Legazpi, Kalibo, Masbate, Ozamiz, Pagadian, Roxas, Tacloban, Zamboanga, and Naga. Before that, Cebu Pacific also airlifted vaccines to Boracay, Bohol, Cauayan, Cebu, Cotabato, Puerto Princesa, San Jose, Siargao, Tugueg-

arao, Tawi-Tawi, and Virac. Davao, Cagayan de Oro, and Iloilo received the largest shipments of vaccines. “We are honored to continuously do our part in our nation’s fight against Covid-19 through the safe transportation of life-saving vaccines,” said Alex Reyes, Chief Strategy Officer at Cebu Pacific. “Cebu Pacific’s carriage of more than 25 million doses on our flights reflects the wide reach of our domestic network.” All vaccines were stored in containers with the established temperature limit to ensure that they are preserved until its arrival at the designated stations. Since April, Cebu Pacific has carried more than 16.5 million vaccine doses from China to the Philippines.

The airline has been rated 7/7 stars by airlineratings.com for its Covid-19 safety compliance as it continues to implement a multilayered approach to safety, in accordance with global aviation standards. These include contactless procedures, thorough cleaning and disinfection protocols for all aircraft and facilities, mandatory wearing of masks and face shields for both passengers and crew, as well as Antigen testing for Cebu Pacific frontliners before duty. “On top of these, our aircraft are also equipped with hospital-grade HEPA filters with 99.99 percent efficacy, keeping viruses at bay.” To date, Cebu Pacific has already vaccinated 100 percent of its active flying crew.

Steer clear of 2 order grabbing apps–SEC

he Securities and Exchange Commission (SEC) has warned the public against investing in two order grabbing applications as they are not licensed to sell securities. In its advisory, the SEC urged the public to stop investing in A Plus Investment and PHMall mobile phone application as they are engaged in Ponzi schemes where monies from new investors are used in paying fake profits to prior investors and are designed mainly to favor its top recruiters and prior risk takers. “The offering and selling of securities in the form of investment contracts using the Ponzi scheme, which is fraudulent and unsustainable, is not a registrable security. The commission will not issue a license to sell securities to the public to persons or entities that are engaged in this business or scheme,” the agency said. Members of these order grabbing sites would be asked to rate items in the online shopping mall by clicking on the item as a positive rating. They would be rewarded for their efforts, based on the number of clicks and the size of their investment. The percentage of commission, however, will be based on the size of their investment, and the bigger the amount, the more opportunities they will have to click items. Order grabbing itself is controversial as many websites around

the world have already closed down after operating for a brief period. A Plus Investment, which also uses brand names, such as A+, A Plus and A Plus Mall, is selling its membership products on its website and Facebook page. Investors can join by registering first, then they can choose from any of the three levels—VIP 1 worth P800, VIP 2 worth P5,700 and VIP 3 worth P35,000. Investors can earn a 10-percent commission for direct referral, 5-percent commission for indirect referral and 2-percent commission for subordinate. Investors can also earn through invitation rewards ranging from P50 up to P25,000 depending on how many of those they have invited have availed of the said levels. “Briefly, an investment contract exists when there is an investment or placement of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others which is prominent in the scheme of A+,” the SEC said. PH Mall also employs the same scheme in which investors can join by registering first, then they can choose from any of the six plans with corresponding 20 daily grabbing orders from online shopping applications, such as Lazada. PH Mall employs six levels of plans starting with VIP 1, worth P100, which is free upon sign-up, up to VIP 6 worth P200,000. VG Cabuag

Companies BusinessMirror

Tuesday, November 2, 2021

PSE STOCK QUOTATIONS

October 29, 2021

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

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FERRONOUX HLDG IREMIT MEDCO HLDG PHIL STOCK EXCH

43.65 124.1 86.2 24.15 9.36 47.7 8.55 20.1 57.95 104.9 19.34 120.5 90.55 1.79 4.08 3.25 1.08 0.315 219.2

45.5 125.1 86.95 24.2 9.47 48.2 9.09 20.2 58 105 19.98 120.9 91 1.8 4.09 3.4 1.17 0.32 220

45.9 127 86.9 24.1 9.5 48.15 9.1 20.4 57.6 99.2 19.32 122 92.9 1.41 4.1 3.4 1.11 0.32 220

45.9 128.7 87 24.2 9.5 48.8 9.15 20.4 58.05 104.9 20 122.3 92.9 1.9 4.1 3.58 1.11 0.32 220

45.9 124.1 84.5 23.9 9.4 47.65 9.09 20.1 57.6 99.2 19.32 119.7 90.55 1.41 4.08 3.4 1.07 0.32 219.2

45.9 124.1 86.95 24.15 9.47 47.7 9.09 20.1 58 104.9 19.34 120.9 90.55 1.79 4.08 3.4 1.07 0.32 220

400 2,721,290 3,069,830 130,100 616,700 2,088,500 14,800 797,000 6,770 180 51,900 255,010 43,700 13,612,000 51,000 55,000 224,000 10,000 630

18,360 340,518,855 263,707,807.50 3,134,855 5,838,627 100,060,300 134,668 16,086,470 391,887 18,366 1,004,008 30,827,751 3,995,507 23,352,420 208,230 188,980 243,340 3,200 138,586

INDUSTRIAL

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE AXELUM CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE LIBERTY FLOUR MACAY HLDG MAXS GROUP MG HLDG MONDE NISSIN SHAKEYS PIZZA ROXAS AND CO RFM CORP SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE A CONCRETE B CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CROWN ASIA EUROMED LMG CORP MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

12.24 1.14 32.05 0.66 30.1 74.5 287 26.2 3.87 4.4 11.12 21.6 13.62 5 2.82 28.3 15.3 8.36 18.18 75.95 0.61 1.33 100.8 235.2 28.05 6.35 7.21 0.183 16.06 8 0.73 4.5 0.118 135.5 0.76 2.26 46.35 49 1.23 14.3 6.45 5.85 6.09 14.7 0.87 1.2 1.66 1.59 3.91 3.98 5.49 22 2.45 8.88 0.84 5.95 1.12 4.46

12.26 1.15 32.15 0.67 30.15 74.95 291 26.5 3.88 4.44 11.4 21.9 13.68 5.06 2.9 28.35 15.34 8.44 18.3 76 0.62 1.34 101 236 29.25 6.98 7.22 0.184 16.1 8.1 0.74 4.59 0.119 138 0.77 2.45 47 58.8 1.24 14.4 6.5 5.9 6.1 14.76 0.88 1.21 1.67 1.6 4.01 4 5.5 22.95 2.47 8.93 0.87 6.05 1.14 4.47

12.5 1.15 32.1 0.68 30.05 75 293 25.5 3.86 4.35 11.5 22.5 13.8 5.07 2.94 27.55 15.18 8.22 18.4 76 0.61 1.35 104.1 240.4 29 6.35 7.38 0.19 16.4 8.1 0.74 4.51 0.12 138.1 0.78 2.31 47 58.9 1.28 14.3 6.68 5.9 6.07 14.76 0.88 1.21 1.67 1.61 3.85 4.3 5.43 22.95 2.46 9.1 0.85 6.04 1.13 4.46

12.74 1.15 32.5 0.69 30.3 75 293 26.5 3.93 4.45 11.5 22.9 13.82 5.07 2.94 28.3 15.4 8.44 18.4 76.2 0.62 1.35 105 241.2 29.25 6.35 7.38 0.191 16.48 8.1 0.75 4.55 0.12 138.9 0.78 2.31 47 58.9 1.28 14.4 6.68 5.95 6.14 14.76 0.88 1.22 1.67 1.61 4.05 4.41 5.5 22.95 2.49 9.25 0.87 6.05 1.13 4.47

12 1.14 31.9 0.65 30.05 74.5 287 24.9 3.85 4.35 11.4 21.1 13.62 4.98 2.81 27.05 15.18 8.15 18.1 75.95 0.61 1.32 101 234 29 6.35 7.2 0.184 16.02 8 0.73 4.5 0.118 133 0.76 2.31 47 58.9 1.23 14.28 6.45 5.86 6.07 14.72 0.88 1.18 1.66 1.6 3.12 3.91 5.43 22.95 2.43 8.86 0.85 6.04 1.12 4.4

12.26 1.14 32.15 0.66 30.1 74.5 287 26.5 3.87 4.44 11.4 21.6 13.68 5.06 2.9 28.3 15.3 8.44 18.3 76 0.62 1.34 101 235.2 29.25 6.35 7.22 0.184 16.1 8.01 0.74 4.5 0.118 138 0.77 2.31 47 58.9 1.24 14.4 6.5 5.86 6.1 14.76 0.88 1.21 1.66 1.6 4 4 5.5 22.95 2.47 8.88 0.87 6.05 1.12 4.46

26,650,600 70,000 2,548,000 23,528,000 735,400 113,280 404,690 2,236,300 1,690,000 16,000 11,600 316,900 150,800 32,300 643,000 2,964,400 193,800 9,764,800 878,400 270,050 30,000 19,278,000 168,120 759,740 600 400 101,500 1,070,000 9,373,100 93,800 561,000 23,000 300,000 1,499,500 329,000 8,000 900 600 4,634,000 50,500 138,100 557,100 678,500 9,600 10,000 2,259,000 220,000 26,000 4,038,000 215,000 3,142,600 200 6,627,000 559,100 159,000 6,500 306,000 891,000

18,360 -138,554,039 -66,575,261.50 12,309 -23,113,835 1,889,525.00 -13,862,876 -73,826.50 1,176,290 -13,320 -

328,205,222 80,210 81,945,745 15,626,750 22,121,485 8,477,718 116,976,532 57,998,905 6,549,880 70,880 133,290 6,957,145 2,067,780 161,993 1,848,930 82,601,405 2,963,494 80,878,812 15,996,802 20,528,672 18,500 25,590,680 17,230,417 178,927,472 17,500 2,540 734,564 201,910 152,101,026 751,466 411,910 103,730 35,700 204,855,789 253,870 18,480 42,300 35,340 5,808,110 722,656 899,295 3,273,952 4,140,669 141,664 8,800 2,716,980 365,560 41,610 12,625,850 862,470 17,222,194 4,590 16,297,170 5,024,692 136,730 39,300 344,920 3,942,050

-31,007,468 15,583,290 20,000 20,512,605 -206,563 -42,968,618 14,870,720 -571,810 -8,900 -1,260,040 40,980 -69,871 -508,480 5,231,040 -53,107,699 -1,146,392 -780,443 -88,440 3,243,257 -61,081,278 -32,913,448 -265,941 22,200 -69,662,416 294,810 28,039 -531,848 -651,701 -19,350 16,700 16,452,623 26,690 5,992 31,360 8,830

HOLDING & FRIMS ABACORE CAPITAL 1.13 1.14 1.15 1.15 1.12 1.14 6,388,000 7,266,070 5.36 6 5.5 5.5 5.5 5.5 4,600 25,300 ASIABEST GROUP AYALA CORP 863 864 856 864 849 863 345,390 295,782,425 48.4 48.5 48.25 49.5 47.8 48.4 2,048,800 98,780,325 ABOITIZ EQUITY ALLIANCE GLOBAL 10.4 10.42 10.32 10.52 10.32 10.4 2,560,100 26,629,110 5.79 5.8 5.67 5.85 5.62 5.8 10,542,600 61,135,264 AYALA LAND LOG ANSCOR 6.95 7.28 7.3 7.3 6.95 6.95 19,000 135,631 0.92 0.93 0.91 0.93 0.91 0.92 470,000 432,310 ANGLO PHIL HLDG ATN HLDG A 0.48 0.5 0.5 0.5 0.5 0.5 20,000 10,000 5.22 5.23 5.17 5.26 5.17 5.22 5,078,500 26,494,679 COSCO CAPITAL DMCI HLDG 7.94 7.95 8.2 8.38 7.87 7.95 33,318,900 266,766,969 7.76 8.11 8.12 8.12 7.75 8.05 9,100 73,586 FILINVEST DEV FJ PRINCE A 2.61 2.79 2.7 2.7 2.7 2.7 5,000 13,500 0.29 0.305 0.29 0.31 0.29 0.31 150,000 44,600 FORUM PACIFIC GT CAPITAL 553 565 553 565 544 565 114,370 63,178,800 60.2 61.65 62.3 63.3 60.2 60.2 3,560,730 217,771,881 JG SUMMIT KEPPEL HLDG A 5.99 6.05 6.05 6.05 6.05 6.05 1,100 6,655 0.64 0.65 0.63 0.64 0.63 0.64 513,000 323,390 LODESTAR LOPEZ HLDG 3.15 3.22 3.16 3.29 3.15 3.15 1,688,000 5,335,250 10.04 10.06 10.28 10.3 10 10.06 3,174,300 32,104,142 LT GROUP METRO PAC INV 3.75 3.79 3.82 3.88 3.75 3.75 38,685,000 146,836,900 1.72 1.73 1.7 1.72 1.67 1.72 290,000 491,780 PRIME MEDIA REPUBLIC GLASS 2.76 2.9 2.9 2.9 2.9 2.9 28,000 81,200 965 965.5 993 993 961 965 520,640 503,509,130 SM INVESTMENTS SAN MIGUEL CORP 116.5 116.9 116.9 116.9 116.1 116.9 171,210 19,994,411 0.65 0.73 0.65 0.65 0.65 0.65 11,000 7,150 SOC RESOURCES TOP FRONTIER 129 130.9 130.9 130.9 130.9 130.9 1,500 196,350 0.18 0.185 0.19 0.19 0.185 0.185 90,000 16,730 ZEUS HLDG

2,077,720.00 62,370,360 -16,948,025 -6,194,474 33,784,514 21,842 -212,530 1,151,618 -6,360,040 -18,899,775 -95,567,471 -546,970 1,877,716 -74,100,810 -6,680 -260,050,110 -2,299,594 -

PROPERTY ARTHALAND CORP 0.63 0.66 0.65 0.66 0.65 0.66 19,000 12,510 35.1 35.2 35.65 35.95 34.5 35.1 12,187,700 428,129,670 AYALA LAND AREIT RT 42.8 42.85 42.8 42.9 42.45 42.8 1,006,300 43,055,315 1.36 1.4 1.39 1.4 1.37 1.4 216,000 301,620 BELLE CORP A BROWN 0.85 0.87 0.85 0.88 0.84 0.87 201,000 171,410 0.74 0.76 0.75 0.75 0.75 0.75 264,000 198,000 CITYLAND DEVT CROWN EQUITIES 0.114 0.116 0.117 0.117 0.114 0.116 18,190,000 2,074,000 6.23 6.5 6.26 6.3 6.23 6.23 45,100 282,349 CEBU HLDG CEB LANDMASTERS 2.89 2.9 2.92 2.93 2.89 2.9 1,456,000 4,230,610 0.45 0.46 0.455 0.465 0.45 0.46 5,840,000 2,663,650 CENTURY PROP DOUBLEDRAGON 10.28 10.3 10.22 10.36 10.22 10.28 109,800 1,128,702 1.8 1.81 1.81 1.81 1.8 1.8 3,683,000 6,638,190 DDMP RT DM WENCESLAO 6.88 6.98 6.88 6.88 6.87 6.88 32,200 221,396 0.275 0.28 0.275 0.28 0.275 0.28 710,000 195,300 EMPIRE EAST EVER GOTESCO 0.37 0.375 0.38 0.38 0.37 0.375 7,830,000 2,939,500 7.39 7.4 7.45 7.45 7.38 7.4 1,645,900 12,181,840 FILINVEST RT FILINVEST LAND 1.14 1.15 1.14 1.15 1.14 1.15 9,446,000 10,770,030 0.9 0.91 0.88 0.91 0.88 0.91 582,000 515,650 GLOBAL ESTATE 8990 HLDG 10 10.3 10.18 10.34 9.7 10.3 245,500 2,497,130 1.24 1.25 1.21 1.26 1.21 1.25 888,000 1,104,420 PHIL INFRADEV CITY AND LAND 0.98 1 0.99 1 0.97 1 289,000 284,310 3.07 3.09 3.08 3.19 3.06 3.07 29,722,000 92,302,220 MEGAWORLD MRC ALLIED 0.295 0.3 0.305 0.31 0.295 0.295 19,400,000 5,843,300 18.08 18.1 18.04 18.1 18 18.1 8,857,600 160,207,964 MREIT RT PHIL ESTATES 0.5 0.51 0.5 0.52 0.495 0.51 2,157,000 1,076,870 1.83 1.84 2.05 2.12 1.84 1.84 1,682,000 3,189,850 PRIMEX CORP RL COMM RT 6.98 6.99 7.03 7.03 6.96 6.99 5,401,900 37,790,158 17 17.08 17 17.18 16.98 17 1,731,000 29,467,774 ROBINSONS LAND PHIL REALTY 0.241 0.245 0.246 0.247 0.241 0.245 560,000 137,540 1.54 1.58 1.51 1.54 1.51 1.54 51,000 78,320 ROCKWELL SHANG PROP 2.59 2.62 2.58 2.62 2.58 2.62 143,000 369,890 2.84 2.91 2.84 2.92 2.83 2.92 23,000 66,000 STA LUCIA LAND SM PRIME HLDG 33.1 33.2 33.8 34.5 33.1 33.1 19,175,400 639,810,120 3.78 3.85 3.82 3.82 3.82 3.82 2,000 7,640 VISTAMALLS SUNTRUST HOME 1.42 1.47 1.47 1.47 1.42 1.42 100,000 142,190 3.74 3.77 3.76 3.78 3.72 3.77 1,852,000 6,958,520 VISTA LAND SERVICES ABS CBN 13.96 14 14.2 14.24 13.9 13.96 598,100 8,387,586 14.8 14.82 14.82 14.82 14.62 14.8 984,000 14,520,026 GMA NETWORK MANILA BULLETIN 0.41 0.42 0.43 0.43 0.405 0.405 60,000 24,550 8 10.8 11 11 10.9 10.9 200 2,190 MLA BRDCASTING GLOBE TELECOM 2,996 3,004 2,984 3,030 2,984 2,996 100,895 302,759,850 1,642 1,650 1,693 1,693 1,630 1,642 111,325 183,655,375 PLDT APOLLO GLOBAL 0.092 0.093 0.094 0.095 0.091 0.093 198,230,000 18,343,490 31.8 31.9 32.4 32.5 31.55 31.8 8,154,300 260,089,235 CONVERGE DFNN INC 3.35 3.39 3.43 3.49 3.35 3.39 675,000 2,301,690 7.04 7.05 7.1 7.15 7.01 7.04 4,525,500 31,972,006 DITO CME HLDG NOW CORP 1.82 1.83 1.82 1.84 1.81 1.83 2,906,000 5,311,340 0.36 0.365 0.37 0.39 0.36 0.365 34,780,000 13,015,950 TRANSPACIFIC BR PHILWEB 2.24 2.27 2.27 2.27 2.2 2.27 579,000 1,291,290 7.95 8.05 7.95 8.1 7.95 7.95 1,100 8,815 2GO GROUP ASIAN TERMINALS 14.14 14.78 14.78 14.78 14.78 14.78 200 2,956 1.96 1.97 1.96 1.98 1.95 1.97 387,000 759,200 CHELSEA CEBU AIR 44.05 44.25 44.5 44.6 44 44.25 219,000 9,671,660 180 181.7 185.8 187.9 180 180 1,905,220 345,355,106 INTL CONTAINER LBC EXPRESS 20.65 21.8 20.65 21.9 20.65 21.8 1,900 41,145 5.14 5.15 5.22 5.27 5.1 5.15 922,300 4,746,858 MACROASIA METROALLIANCE A 1.55 1.6 1.58 1.58 1.58 1.58 9,000 14,220 1.01 1.03 1.02 1.03 1.02 1.02 145,000 148,510 HARBOR STAR ACESITE HOTEL 1.49 1.5 1.53 1.54 1.49 1.5 30,000 45,830 2.15 2.2 2.28 2.28 2.13 2.2 2,286,000 5,015,050 DISCOVERY WORLD WATERFRONT 0.5 0.51 0.5 0.51 0.5 0.51 217,000 110,640 6.49 6.5 6.5 6.51 6.5 6.5 3,300 21,463 CENTRO ESCOLAR IPEOPLE 6.92 7.17 7.08 7.17 7.08 7.17 300 2,142 0.355 0.36 0.36 0.36 0.355 0.36 480,000 171,800 STI HLDG BERJAYA 5.35 5.59 5.35 5.75 5.35 5.59 136,300 755,582 6.75 6.8 6.8 6.8 6.67 6.8 2,588,700 17,474,380 BLOOMBERRY LEISURE AND RES 1.55 1.57 1.57 1.57 1.55 1.56 82,000 127,170 1.78 1.98 1.8 1.8 1.8 1.8 386,000 694,800 MANILA JOCKEY PH RESORTS GRP 0.93 0.94 0.95 0.95 0.92 0.92 544,000 507,940 0.43 0.435 0.435 0.44 0.43 0.435 3,620,000 1,569,300 PREMIUM LEISURE ALLHOME 10.28 10.3 10.48 10.48 10.12 10.3 471,100 4,839,116 1.33 1.34 1.33 1.35 1.33 1.34 953,000 1,268,760 METRO RETAIL PUREGOLD 42.15 42.25 41.7 42.35 41.65 42.25 2,396,300 100,889,435 62.25 62.3 61 62.5 60 62.25 1,917,200 119,224,453 ROBINSONS RTL PHIL SEVEN CORP 90.05 91 96.4 96.4 90.05 91 8,590 792,061 1.23 1.24 1.23 1.24 1.22 1.24 764,000 938,790 SSI GROUP WILCON DEPOT 30.8 31.2 31.2 31.8 30.15 31.2 8,042,000 250,764,890 0.243 0.248 0.249 0.249 0.249 0.249 40,000 9,960 APC GROUP EASYCALL 4.6 4.84 4.5 4.55 4.5 4.55 9,000 40,850 525 540 520 540 520 540 170 90,920 GOLDEN MV PRMIERE HORIZON 0.82 0.83 0.85 0.85 0.81 0.83 10,213,000 8,442,440 MINING & OIL

ATOK 6.7 6.74 6.83 6.83 6.4 6.74 43,800 287,539 APEX MINING 1.45 1.47 1.46 1.46 1.45 1.45 406,000 590,010 6.3 6.31 6.35 6.38 6.21 6.3 764,700 4,817,281 ATLAS MINING BENGUET A 6.05 6.29 6.3 6.3 6.05 6.29 232,300 1,424,167 5.97 6.1 5.97 6 5.97 6 27,200 162,624 BENGUET B COAL ASIA HLDG 0.29 0.295 0.295 0.295 0.285 0.295 330,000 95,850 2.12 2.13 2.13 2.14 2.12 2.12 1,730,000 3,675,900 FERRONICKEL GEOGRACE 0.216 0.225 0.22 0.239 0.216 0.216 2,510,000 568,410 0.131 0.134 0.131 0.134 0.13 0.134 5,380,000 704,390 LEPANTO A MANILA MINING A 0.0092 0.0095 0.0093 0.0093 0.0092 0.0093 11,000,000 101,900 0.0091 0.0098 0.0094 0.0094 0.0089 0.0089 31,000,000 284,600 MANILA MINING B MARCVENTURES 0.91 0.92 0.91 0.93 0.9 0.92 291,000 263,220 1.03 1.06 1.02 1.1 1.02 1.06 697,000 739,790 NIHAO NICKEL ASIA 5.48 5.49 5.5 5.55 5.46 5.48 1,810,500 9,973,115 0.82 0.84 0.84 0.84 0.84 0.84 202,000 169,680 ORNTL PENINSULA PX MINING 5.21 5.27 5.35 5.39 5.2 5.21 1,666,800 8,833,894 25.8 26 26.05 26.5 25.1 26 5,225,800 135,235,965 SEMIRARA MINING ACE ENEXOR 18.62 18.8 18.9 18.9 18.42 18.62 112,400 2,092,890 0.01 0.011 0.011 0.011 0.011 0.011 23,300,000 256,300 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 200,000,000 2,200,000 0.0092 0.0093 0.0095 0.0096 0.0093 0.0093 94,000,000 888,700 PHILODRILL PXP ENERGY 6.61 6.62 6.44 6.94 6.42 6.61 438,400 2,941,905 PREFFERED ALCO PREF B 101.3 102.6 101.3 101.3 101.2 101.2 23,590 2,387,818 44 44.4 44.05 44.5 44 44 30,200 1,330,255 CEB PREF CPG PREF A 103 104.4 104.4 104.4 104.4 104.4 10 1,044 100.5 100.6 100.6 100.6 100.5 100.6 33,260 3,345,656 DD PREF FGEN PREF G 102.5 105.4 105.4 105.4 105.4 105.4 520 54,808 1,026 1,050 1,050 1,050 1,050 1,050 30 31,500 JFC PREF A JFC PREF B 1,044 1,045 1,044 1,044 1,043 1,044 1,890 1,973,110 100.1 101.9 100.9 102.1 100 101.9 56,380 5,693,050 MWIDE PREF MWIDE PREF 2A 100 100.9 100.4 100.4 100.4 100.4 160 16,064 102.6 102.8 102.3 102.7 102.3 102.7 1,410 144,643 MWIDE PREF 2B MWIDE PREF 4 99.7 100 100.1 102 100 100 66,090 6,690,950 104 105 105.2 105.2 104 105 16,980 1,780,582 PNX PREF 3B PNX PREF 4 1,004 1,007 1,005 1,007 1,003 1,007 455 456,585 1,115 1,120 1,115 1,115 1,115 1,115 550 613,250 PCOR PREF 3A SMC PREF 2F 79.2 79.25 79.05 79.2 79.05 79.2 14,360 1,135,230 78.6 79.5 79.5 79.5 79.5 79.5 640 50,880 SMC PREF 2I SMC PREF 2J 76.3 77 76.3 77 76.3 76.3 19,440 1,483,412 75.65 76.4 75.5 75.65 75.5 75.65 1,500 113,375 SMC PREF 2K PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR 13.32 14.2 13.52 13.6 13.32 13.32 65,800 886,100 13.8 13.9 14.08 14.08 13.9 13.9 312,400 4,353,106 GMA HLDG PDR WARRANTS TECH WARRANT 1.26 1.28 1.32 1.32 1.24 1.26 2,363,000 2,986,670

-97,107,810 -25,320,305 -6,900.00 -143,250 -58,844 -382,140 -237,900 84,306 1,357,710 -11,550 84,748 94,300.00 5,790 -20,520 142,780 -40,676,070 201,450 -30,810,136 25,500 -15,490 6,305,002 -697,606 35,320 -94,533,825 1,177,370 -1,190,520 -64,768,145 754,380 -94,352,445 24,110 1,178,922 9,100 -268,650 5,880 -6,095,565 -53,252,584 -1,169,096 17,440 13,000 -90,000 -24,037 -6,340,780 19,320 -430,000 -125,294 -83,790 21,347,930 62,217,578 -238,563 -24,331,625 -10,400 32,900 11,680 -607,045 271,990 -2,390 49,500 -138,020 -2,117,547 -4,723,053 3,288,755 1,862 - 770,250 10,510 1,097,214 15,400 - -886,100 -3,297,642 -12,800

SMALL & MEDIUM ENTERPRISES

ALTUS PROP ITALPINAS KEPWEALTH MAKATI FINANCE MERRYMART

17 1.82 3.85 2.41 3.24

FIRST METRO ETF

107

17.3 1.85 3.9 2.7 3.27

EXHANGE TRADE FUNDS

107.5

17.02 1.85 3.9 2.45 3.26

17.3 1.85 3.9 2.7 3.37

17.02 1.82 3.9 2.45 3.24

17.3 1.85 3.9 2.7 3.24

25,400 333,000 4,000 199,000 11,721,000

433,826 615,810 15,600 510,500 38,384,310

-3,583,230

109 109 107 107 50,680 5,461,861 361,554

www.businessmirror.com.ph

Group urges firms to adopt green packaging solutions

By Tyrone Jasper C. Piad

@TyronePiad

he business sector should adopt sustainable packaging solutions and invest in the recovery and recycling of these materials, the Philippine Alliance for Recycling and Materials Sustainability (Parms) said. Parms Co-convenor and Founding President Crispian Lao, in a recent event hosted by the Supply Chain Management Association of the Philippines, stressed the importance of promoting sustainability and a circular economy. A circular economy refers to sustainable means of production and consumption by reusing materials as much as possible. “What industry needs to do is to design our packaging so that it becomes more circular and more impor-

tantly, to put infrastructure in place so that materials can be recovered and can be recycled,” he said. If a material cannot be recycled, Lao said it should be treated or properly disposed of. Still, the Parms official said this should be accompanied by “behavioral change” in terms of using and disposing of plastic packaging. “Plastics just don’t walk out and find themselves on river. It is the behavioral change that is challenging but something that we need to

address,” he said. “Plastic, when it becomes waste, becomes a problem. And the way the plastic affects waste is when people start burning it or dispose of it indiscriminately.” Parms had developed a roadmap, dubbed “Ambisyon 2030: Zero Waste to Nature,” which aims to prevent plastic waste from ending up in nature. Lao said it identifies how much volume of plastic is being used and the strategies need to be done in the short, medium and long term to make the packaging more sustainable and circular. Personal Collection Direct Selling Inc. General Manager for Technical Operations Rolando Lazo said in the same event that making their packaging sustainable was challenging, particularly the sourcing of the needed materials that will allow them to make the shift. “We are approaching this very carefully. One thing when we started this journey, we really found it difficult to secure the supply of the things that we need to make our packaging

recyclable or biodegradable,” he said. Lazo said the company includes additives in their packaging that make the plastic biodegradable. These are being tested to ensure that making their packaging sustainable does not compromise its functionality as well. “The prices of the additives [can vary from] expensive to very expensive. While we are taking a hit in terms of finances, we really want to bring this to the Philippines,” he said. In September, environmental groups called on e-commerce giants Lazada and Shopee to revamp their packaging scheme amid the expected plastic waste due to surge in Christmas orders. “The rise of online shopping during pandemic has also shown us that e-commerce is now really part of the new normal. By heeding the people’s call to reveal, reduce and redesign, Lazada and Shopee can lead the way to provide Filipinos a better normal e-commerce experience,” Greenpeace Philippines Consultant Jefferson Chua said.

ALI taps clean energy from AC Energy A C Energy Corp. (ACEN) will supply clean energy to Ayala Land Inc. (ALI) until 2050, the power firm said last week. ACEN and ALI signed a power supply agreement last week for ACEN’s 120-megawatt solar plant in Alaminos, Laguna to supply renewable energy (RE) that will help meet ALI’s demand up to 2050. “ACEN commits to being at the forefront of energy transition, working alongside with our partners,” said Eric Francia, ACEN President and CEO. “We are happy to work with Ayala Land on this important initiative that will help the Ayala group achieve net zero greenhouse gas emissions by 2050.” Alaminos Solar is one of the country’s largest solar farms with 120 MW of renewables capacity and the first-ever solar storage hybrid locally. Prior to the power supply agreement, the two companies have jumpstarted their synergies in Alaminos through ACEN’s pioneering Sustainability Hub, where Alaminos Solar is surrounded by Ayala Land’s Carbon Forest, a woodland reserve that acts as a carbon trap and home to biodiversity. ACEN partnered with Green Antz, a company that also operates ALI’s plastic recycling facility at the Arca South Ecohub, to pilot the circular approach in the Sustainability Hub

and integrate a plastic waste management system. A total of 32,540 kilograms of plastic collected from the solar panel packaging materials in the project construction site, the equivalent of about 25 compact size cars, have been diverted from landfills to be upcycled into eco-bricks and used in building facilities within the plant. ACEN envisions to recreate the Sustainability Hub and close the loop through the development of Community Eco Hub recycling facilities within its project locations, fulfilling its goal of protecting the environment, creating jobs to reignite the economy, and engaging its host communities meaningfully while creating clean energy. With a future Eco Learning Center already underway, ACEN aims to create awareness on various climate action programs such as RE and nature-based solutions through reforestation and biodiversity protection. “We are pleased that this transaction with ACEN enables us to leverage synergies across the Ayala group and provides a platform to advance our net zero goal,” said Bobby Dy, ALI President and CEO. “As we strive to deepen our commitment to sustainability, we recognize how these efforts contribute to the shift towards a low-carbon future.” Lenie Lectura

mutual funds

October 29, 2021

NAV

One Year Three Year Five Year

per share

Return*

Y-T-D

Return

Stock Funds

ALFM Growth Fund, Inc. -a

227.7

9.68%

-1.89%

-2.57%

0.22%

ATRAM Alpha Opportunity Fund, Inc. -a

1.6555

49.2%

6.48%

3.62%

26.09%

ATRAM Philippine Equity Opportunity Fund, Inc. -a 3.1796

12.84%

-5.3%

-5.26%

1.49%

Climbs Share Capital Equity Investment Fund Corp. -a 0.7499 4.53%

-4.31% n.a.

-7.74%

First Metro Consumer Fund on MSCI Phils. IMI, Inc. -a 0.7959 14.07%

0.04% n.a.

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

5.1256

7.32%

15.45%

-0.45%

3.73%

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

0.7672

9.85%

-1.21%

-4.22%

100.54

15.91%

-2.9% n.a.

-1.3%

PAMI Equity Index Fund, Inc. -a

47.0123

12.06%

0.21%

-1.1%

0.37%

Philam Strategic Growth Fund, Inc. -a

489.27

9.53%

0.18%

-1.7%

0.07%

Philequity Alpha One Fund, Inc. -a,d

1.1436

18.86% n.a. n.a.

4.22%

Philequity Dividend Yield Fund, Inc. -a

1.2833

21.28%

2.12%

0.48%

9.85%

Philequity Fund, Inc. -a

35.7326

14.8%

0.62%

-0.13%

2.77%

11.8% n.a. n.a.

0.85%

Philequity MSCI Philippine Index Fund, Inc. -a

0.9208

Philequity PSE Index Fund Inc. -a

4.8428

12.99%

1.02%

-0.38%

1.08%

Philippine Stock Index Fund Corp. -a

808.44

12.79%

1.02%

-0.44%

0.85%

Soldivo Strategic Growth Fund, Inc. -a

0.7411

14.42%

-3.15%

-3.46%

3.09%

Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.6879

12.76%

-1.68%

-1.86%

1.77%

Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.9224 12.32%

0.66%

-0.63%

0.51%

United Fund, Inc. -a

0.44%

0.33%

2.11%

1.21%

0.06%

3.3885

13.52%

-1.18%

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

108.7119

12.9%

1.08%

Primarily invested in foreign currency securities ATRAM AsiaPlus Equity Fund, Inc. -b

$1.1749

7.95%

8.45%

5.52%

-2.33%

Sun Life Prosperity World Voyager Fund, Inc. -a $1.8396

20.13%

15.7%

12.18%

9.97%

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

1.6858

7.76%

1.58%

-0.83%

1.03%

ATRAM Philippine Balanced Fund, Inc. -a

2.2319

6.11%

1.22%

-0.73%

-2.34%

First Metro Save and Learn Balanced Fund Inc. -a 2.6759

8.8%

3.1%

1.04%

1.87%

First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1994

6.97% n.a. n.a.

NCM Mutual Fund of the Phils., Inc. -a 1.9919

5.97%

3.6%

1.34%

PAMI Horizon Fund, Inc. -a

3.719

4.09%

3.26%

-1.87%

Philam Fund, Inc. -a

16.656

4.2%

0.02%

-1.68%

Solidaritas Fund, Inc. -a

2.0926

5.79%

1.47%

0.11%

0.07%

Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.6032 7.49%

0.58%

-0.46%

0.84%

Sun Life Prosperity Achiever Fund 2028, Inc. -a,d 0.9818

2.05% n.a. n.a.

-3.99%

Sun Life Prosperity Achiever Fund 2038, Inc. -a,d 0.9267

6.55% n.a. n.a.

-2.37%

Sun Life Prosperity Achiever Fund 2048, Inc. -a,d 0.9171

8% n.a. n.a.

-1.71%

Sun Life Prosperity Dynamic Fund, Inc. -a

0.9258

12.34%

1.09%

0.66%

1.26%

-0.49%

4.29%

Primarily invested in foreign currency securities Cocolife Dollar Fund Builder, Inc. -a

$0.0378

-3.3%

2.91%

1.1%

-3.32%

PAMI Asia Balanced Fund, Inc. -b

$1.0836

1.31%

5.73%

3.15%

-4.11%

Sun Life Prosperity Dollar Advantage Fund, Inc. -a $4.7953 14.38%

11.43%

8.56%

6.26%

Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $1.2193 6.13%

6.39%

4.38%

1.42%

0.43%

Bond Funds

PLDT to fortify data centers, wireless arm

LDT Inc. said it is fortifying its “mission-critical infrastructure” as the country aims to become a digital hub in the Asia Pacific region. According to PLDT Enterprise Corporate Relationship Management Advisor Victor Aliwalas, this includes the development of global connectivity infrastructure to meet the demand for high-speed connectivity. “In terms of hyperscalers digital infrastructure, PLDT is the country’s leading fully integrated telco and ICT provider. We are maintaining this accolade by continuous investments and capex [capital expenditures] spend going back into our infrastructure. We are spending

anywhere from P88 billion to P92 billion this 2021,” he said. Part of the capital will be invested in undersea cable systems that will connect the Philippines to different parts of the globe. Currently the telco titan’s international cable network comprises 14 global subsea cable systems, with additional subsea cables expected to be operational by the end of this year to 2022, such as Asia Direct Cable, Jupiter, and Apricot. PLDT also has three existing cable landing stations across the Philippines situated in Batangas, La Union, and Daet, with two more expected to be built in Baler and Davao “over the next few months.” Lorenz S. Marasigan

Primarily invested in Peso securities ALFM Peso Bond Fund, Inc. -a

372.71

1.05%

2.97%

2.48%

ATRAM Corporate Bond Fund, Inc. -a

1.9252

-1.45%

1.18%

0.13%

1.31%

Cocolife Fixed Income Fund, Inc. -a

3.2418

1.14%

3.24%

4.08%

0.82%

Ekklesia Mutual Fund Inc. -a

2.2404

-2.14%

1.87%

1.34%

-2.52%

First Metro Save and Learn Fixed Income Fund,Inc. -a 2.4225 -0.89%

3.08%

1.72%

-1.25%

5.1%

1.32%

-4.79% -0.28%

Philam Bond Fund, Inc. -a Philam Managed Income Fund, Inc. -

4.4084

-4.55%

1.3176

0.4%

3.94%

2.63%

Philequity Peso Bond Fund, Inc. -a

3.9589

0.13%

4.58%

2.69%

-1.05%

Soldivo Bond Fund, Inc. -a

1.0256

-1.04%

5.4%

1.76%

-1.72%

0.51%

5.04%

3.14%

-0.51%

-0.59%

4.21%

2.42%

-1.35%

Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.1898 Sun Life Prosperity GS Fund, Inc. -a

1.7313

Primarily invested in foreign currency securities ALFM Dollar Bond Fund, Inc. -a

$488.37

1.63%

3.06%

2.19%

0.9%

ALFM Euro Bond Fund, Inc. -a

Є219.95

0.98%

1.04%

0.77%

0.33%

ATRAM Total Return Dollar Bond Fund, Inc. -b

$1.1974

-6.44%

-4.18%

2.23%

1.29%

First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.026 -1.52%

1.59%

0.79%

-2.26%

PAMI Global Bond Fund, Inc -b

$1.0198

-6.35%

-0.12%

-1.44%

-6.44%

Philam Dollar Bond Fund, Inc. -a

$2.4878

-0.91%

5.31%

1.99%

-2.06%

Philequity Dollar Income Fund Inc. -a $0.0624717 1.01%

3.16%

1.96%

0.28%

Sun Life Prosperity Dollar Abundance Fund, Inc. -a $3.1577 -1.19%

3.14%

0.9%

-2.04%

2.54%

0.82%

Money Market Funds Primarily invested in Peso securities ALFM Money Market Fund, Inc. -a

130.89

1.2%

2.93%

First Metro Save and Learn Money Market Fund, Inc. -a 1.0565 0.99% n.a. n.a. Sun Life Prosperity Peso Starter Fund, Inc. -a,1 1.3122

1.52%

2.7%

2.54%

0.8% 1.18%

Primarily invested in foreign currency securities Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0598

0.87%

1.53% n.a.

0.59%

Feeder Funds Primarily invested in Peso securities Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a,d 1.3645

34.27% n.a. n.a.

20.79%

Primarily invested in foreign currency securities ALFM Global Multi-Asset Income Fund Inc. -a,d

$0.98

5.38% n.a. n.a.

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. d - in Net Asset Value per Unit (NAVPU). 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.).

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

www.businessmirror.com.ph

Banking&Finance

Organized crime found behind fake banknotes

HE Bangko Sentral ng Pilipinas (BSP) announced last Monday that seven enforcement operations it ran in the first nine months of the year led to the seizure of more than 500 pieces of counterfeit Philippine banknotes worth more than P480,000. The enforcement operations also resulted in the arrest of 16 suspects, 14 of which were members of crime syndicates, according to the BSP. In addition to the seized counterfeit Philippine currency, the BSP also seized more than 200 pieces of counterfeit foreign banknotes during the said period. The BSP’s Payments and Currency Investigation Group, which carries out operations against counterfeiters, has already filed criminal cases against the arrested individuals in the courts. Under Republic Act 10951, counterfeiters of Philippine currency are subject to the penalty of imprisonment of at least 12 years and 1 day and a fine not exceeding P2million.

Over the last decade, the BSP has conducted more than a hundred enforcement operations that led to the apprehension of 176 suspects and the confiscation of more than 12,000 pieces of counterfeit Philippine banknotes worth P7.69 million. The BSP has also seized more than 14,300 pieces of counterfeit US dollar bills worth $92.59 million, along with a number of other foreign currencies. Earlier this year, the BSP urged the public to regularly and carefully check the features of their Philippine banknotes to ensure their authenticity. This is in response to reports circulating in messaging apps and social media platforms on the existence of alleged counterfeit 1,000peso banknotes. “The BSP encourages the public to immediately report any information on counterfeiting of Philippine currency to the nearest police station or law enforcement agency for appropriate action,” the BSP said in its statement. Bianca Cuaresma

How and why you should keep a spending journal

EEPING a budget can be a powerful tool for managing your finances, but it is not always easy to make. When writing up a budget, it is necessary to know how much money you spend on what purchases. A spending journal is a great way to add up and even itemize expenditures.

What is a spending journal?

ESSENTIALLY, a spending journal is a log of your total expenses over the course of one month. It could be longer than a month, but 30 days is enough to get a complete picture of your usual expenses. W hen keeping a spend ing journal, it is important to record necessary expenses like rent and groceries and discretionary ones such as a cup of coffee or a meal at a restaurant. Impulse purchases are particularly important, as they can quickly add up and drain your wallet.

How to keep a spending journal

THERE are two ways to go about keeping a spending journal: the old-fashioned way and the hightech way. Personally, I prefer the oldfashioned way, because all that’s needed is a pen and a notebook. My preferred journal is a Jofelo refillable journal when using a pen and paper. It is good practice to take the notebook and a pen everywhere to accurately track all purchases. A more high-tech way to keep a spending journal would be to use a smartphone note application, or a similar application, such as Evernote. The important thing is using the method that works best for you, one that will allow you to correctly jot down all your purchases. To get a more complete picture of my finances, I don’t just write down how much I spent. I also include the date, a description of the transaction and what I thought about the purchase. Describing the purchases I made allows me to create spending categories for my budget. And recording what I thought about my purchases is especially helpful when it comes to my discretionary spending. If I know what I am spending my money on, I know what I can cut from my budget if I need to save up something else. That said, if I know how I felt about an impulsive purchase, I can understand why I decided to buy an item at the time I did.

Why keep a spending journal?

WHETHER you have debt that you need to pay off or plan to save up

Fitz Gerard Villafuerte

personal finance for a larger purchase like a car, a spending journal can help you develop a workable budget and meet the financial goals that you set for yourself. Think of a spending journal as a map to a certain destination. How can you get to a certain place if you don’t know where to go? The simple answer is that you can’t. You would get lost unless you had a map. In this way, a spending budget can allow you to reach a monetary goal by helping you change your spending habits. When you have successfully tracked all your purchases, you can begin to alter your spending habits as needed. I have found it very eye-opening and empowering to know exactly where my money is going every month.

Should a spending journal be a permanent practice?

THE permanence of this practice in your life depends upon you and your individual situation. If your income and necessary expenses don’t change much from month to month, you may only need to keep a spending journal once a year or so. This practice is essentially a tool that you can use or choose not to use. You could use the journal to craft your budget and reign in your spending until you get the hang of managing your money, or you can use it to continually assess your expenditures. If your income is irregular, you will greatly benefit from keeping a spending journal regularly. A log of your purchases as you make them can help you cut down on discretionary spending and plan for any emergencies or lapses in income. In the beginning, keeping a log of all your expenses and purchases might seem tedious, but like any exercise, it gets easier over time. You may find you like the peace of mind that a spending journal can bring you and decide to keep doing it. Whatever you decide, a spending journal is an effective tool you can employ to assess your spending habits and meet your financial goals. Fitz Villafuerte is a registered financial planner of RFP Philippines. To learn more about personal-financial planning, attend the 93rd RFP program this January 2022. To inquire, email info@rfp.ph or text at 0917-6248110.

BusinessMirror

Editor: Dennis D. Estopace • Tuesday, November 2, 2021

‘Pass bill repealing automatic debt-payment appropriation’ By Jovee Marie N. dela Cruz

@joveemarie

ITH government owing more than P11 trillion, a party-list group renewed calls for the passage of a measure repealing the automatic appropriations for debt service.

Bayan Muna Rep. Ferdinand R. Gaite called on the Palace to seriously study and prioritize House Bill (HB) 4087, or the “Repeal the Automatic Appropriation for Debt Service” bill. HB 4087 will amend Section 31 of Presidential Decree 1177 or the Budget Reform Decree of 1977 issued by the Marcos administration. According to Gaite, the decree was issued to “appease international lending institutions which provides for automatic appropriation for public debt service.”

The measure will likewise amend Section 26, Chapter 4, Book VI of Executive Order 292, otherwise known as the Administrative Code of 1987, which reiterates in toto Section 31 of PD 1177. “With the Philippines now being the biggest borrower of the World Bank, it would be best if the Duterte administration re-think its priorities and repeal the Marcos-era automatic debt servicing law,” Gaite said. “If not, then less and less of the national budget would go to basic and social services intended for Filipinos.”

Defect remedy

THE lawmaker added that the bill, “if enacted, “will remedy a longstanding defect in the government’s budget policy—the indiscriminate payment of all public debts including questionable loans, regardless of the grave diversion of finances from basic services.” Gaite further said that the bill affirms and asserts the obligation of the State under Article II, Section 9 of the 1987 Constitution to promote a just social order through policies that provide adequate social services. The lawmaker further said the bill’s passage also seeks to pave the way for a more “rational and humane” budgetary process. “It seeks to bring hundreds of billions of pesos annually allocated to debt servicing and instead redirected to benefit the people,” Gaite said. “Government can then begin to prioritize badly needed social services.” At the end of September, the national government’s outstanding debt is at a new high of P11.92 trillion, according to the lawmaker.

‘Unjust’

Gaite also describes as “unjust” the automatic appropriation for debt service at the expense of basic services. “It preempts the people’s prerogative by giving absolute and unquestioned priority to debt servicing and placing so much of the national budget outside normal budget processes. It has caused economic policy to systematically favor narrow private creditor and corporate interests over the needs of the people,” he added. Bayan Muna has said in the bill that since 1986, cumulative debt servicing has been consuming almost a third of the annual national government budget. The group said the need to repeal the law on automatic appropriation for debt servicing has become more urgent as the public debt has become an albatross for the nation. “The large share of debt servicing in the national budget has exacerbated the government’s worsening neglect of social service since 1997. Education, health and social welfare budgets remain insufficient while a large share of the people’s taxes is allocated for debt payments,” the party-list group added.

LandBank cites co-op’s ₧300M loan’s benefits

ANDBANK of the Philippines announced last Monday it is continuing to fund agriculture initiatives in Misamis Occidental. LandBank’s statement noted that the Misamis Occidental-based Lorenzo Tan Multi-Purpose Co-operative (LTMPC) has remained responsive to the financial needs of its members, with funding the state-run lender. LandBank said the P300-million rediscounting loan line it released in 2020 allowed LTMPC to sustain its lending operations and finance the needs of its nearly 80,000 members, of whom 31,000 are farmers, fishers and agrarian reform beneficiaries (ARBs). “The loan helped LTMPC support farmers and fishers in purchasing production requirements, such as farm inputs and seedlings. It also provided for the needs of micro and small entrepreneurs, overseas Filipino workers and pensioner-members amid the economic challenges brought about by the pandemic,” the bank said in a statement. The bank said that LTMPC has also provided its members with essential goods, such as groceries and rice, including free medical check-ups at the co-operative’s community hospital in Zamboanga del Sur. As of end-September, Landbank’s outstanding loans to the agriculture sector have reached P228.21 billion, of which P21.53 billion directly benefited small farmers and fishers channeled through cooperatives and farmers’ associations. “LandBank recognizes the essential role of cooperatives in promoting economic recovery and resiliency in their local communities,” LandBank President and CEO Cecilia C. Borromeo was quoted in the statement as saying. “We stand ready to bolster their support interventions as we continue to rise together in the new normal.” Bianca Cuaresma

Zalora firm taps RCBC Bankard for new card

AVAO CITY—BF Jade E-Services Philippines Inc., the operator of the Zalora brand, has partnered with RCBC Bankard Services Corp. in a bid to sell a “fashion and lifestyle credit card in the region” that rewards the user for shopping online. BF Jade E-Services said in a statement the Zalora credit card “would serve as a powerful catalyst at a time when as many as 38 million Filipinos are shopping online, taking to e-commerce and embracing all its possibilities. The company added it believes the card would “further fuel the momentum of digital growth in the Philippines and set a new benchmark in the local banking sector.” The launch of the Zalora credit card came closely with moves of global fashion brands to tap the company in their foray into Southeast Asia. Last week, BF Jade E-Services announced a Danish sport-style brand has tapped the Zalora platform as its exclusive supply chain solution provider for the Southeast Asian market. Manuel T. Cayon

The quick brown fox ju mp over the lazy dog.

Art

BusinessMirror

Tuesday, November 2, 2021 • Editor: Gerard S. Ramos

www.businessmirror.com.ph

Today’s Horoscope

❶ Fashion

designer-painter Edgar San Diego’s gown with modern kimona sleeves, serpentina sleeves, and chiffon train blends with his 30”x30” acrylic on canvas painting, titled Kwentuhan sa Hardin.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Marisol Nichols, 48; David Schwimmer, 55; k.d. lang, 60; Stefanie Powers, 79. Happy Birthday: Take the edge off, relax and think about the best way to get what you want. Empathy and understanding, mixed with genuine charm and positive suggestions, will help you make your way through any pitfalls you encounter this year. Be courageous but kind when opposition comes your way. How you make others feel will determine the response you receive. Balance and equality are essential. Your numbers are 7, 10, 16, 21, 24, 38, 46.

❷ Portrait

of an Old Soul 1, 48”x48”, acrylic on canvas

❸ Dalaga sa

Hagdanan, 24”x33”, acrylic on canvas

❶

FROM left: SM senior vice president for marketing communications Millie Dizon with fashion designer and artist Edgar San Diego and Abby San Diego

❷

❸

Spotlighting Edgar San Diego’s art and fashion E

dgar San Diego recently showcased his amazing talents in art and fashion in Baro’t Saya Tuwa at Ligaya, his first solo art exhibit, at the Mega Fashion Hall of SM Megamall. With the theme “Tribute of Joy to the Filipina and her Traditional Dress Amidst the Pandemic,” San Diego highlights his love for the beautiful Filipina, traditions, costumes and production design, keeping in mind that the colors are bright and the subjects are happy in creating positive vibes the public needs most in this pandemic. Edgar San Diego crossed over from fashion design to visual arts during the start of the pandemic lockdown last year. When he ran out of things to fix at home, he decided to pick up his brushes again and called his canvas supplier. He asked his daughter Abby to pose for his desired angle and lighting and from there, he based his first obra maestra, titled Portrait of an Old Soul 1. Consequently, he created one to two paintings weekly, all of which he showcases in his first solo exhibit. The designer-artist says that his works are his personal statements on nationalism. “My paintings are unchanging in their presentation of Filipiniana themes, evident in the costumes, the furniture, the settings, and the scenarios that find their way onto my canvas,” he says. “These are the expressions of my love for country and its history.” Hopefully, “through my visual creations, I could encourage and inspire others, especially the younger generations of Filipinos, to develop an interest in our country’s fascinating history and our rich cultural heritage,” he adds.

TAURUS (April 20-May 20): Don’t count on something that isn’t a sure thing. Ask questions and insist on verification in writing. Evaluate your relationships, and don’t hesitate to distance yourself from anyone who doesn’t play fair or offer something worthwhile in return. HHH

GEMINI (May 21-June 20): Thank matters through, make decisions for the right reasons, and pay attention to and learn from the experiences you encounter. When in doubt, check the facts, budget appropriately and set a course that feels comfortable. Think big, but live within your means. HHHHH

CANCER (June 21-July 22): Hide your emotions until you gather the facts. Knowing what you are up against will make it easier to do what’s best for you. Don’t give in to someone using manipulative tactics. Think outside the box, and you’ll find a good alternative. HH

LEO (July 23-Aug. 22): A positive attitude will help you bypass a stressful situation. Upset will lead to a change that doesn’t fit your schedule. Do your best to get along, and be prepared to do things on your own if necessary. Self-improvement is favored. HHHH

VIRGO (Aug. 23-Sept. 22): Pay attention to how you manage money. Overspending on things you don’t need will lead to regret. Put more emphasis on what’s meaningful to you and how you can utilize your time effectively. Make changes that improve your domestic situation. HHH

The exhibit also highlights Edgar San Diego’s exquisite hand-painted Filipiniana gowns including a Maria Clara top over a green de cola skirt; a blush pink Maria Clara gown with black accent on the baro, pañuelo and tapis; and a modern Maria Clara wedding ensemble, among others. San Diego graduated from the University of Santo Tomas with a degree in Fine Arts major in Advertising. He went on to work as a hand painter on formal wear for a number of Filipino designers. This gave him early exposure in the fashion industry, particularly in fashion design. He also worked as a window display artist which further opened his knowledge of fashion marketing. Working passionately to improve his craft, he

was invited and became the youngest pioneer of the Fashion Designers Association of the Philippines, in which he eventually served as president for 8 years. Edgar San Diego’s citations and awards includes Haute Couture Designer of the Year in the Manila Fashion Designers Awards in 1989; Grand Prix Best Costume Award in Carnival in Rio in Manila, which brought him to Rio de Janeiro, Brazil, in 1990; Outstanding Alumni of UST College of Fine Arts and Don Bosco Technical Institute; and five-time winner in the Annual Flores de Mayo at The Manila Hotel. As a costume designer, Edgar San Diego’s credits include Repertory Philippines’s The Wizard of Oz, The

Continued on B5

‘INK Story’ at Ateneo Art Gallery PEOPLE love a good story—even better, sharing personal anecdotes tied to an organization that has had 30 years’ worth of history influencing hearts and minds in the children’s literature art scene. Undeniably fun-spirited, Ang INK revels in colorful, whimsical illustrations, and delights in organizing playful, interactive events (i.e. Story Stones, Hand-print Murals, etc.) that keep its audience of children, families, educators, librarians, illustrators, writers, and children’s literature industry leaders thoroughly engaged with Ang INK. For the children’s literature industry

ARIES (March 21-April 19): Join forces with someone who shares your point of view. Together you can make a difference. A discussion will lead to a broader understanding of your long-term goals and give you comfort in knowing what’s possible. Romance is on the rise. HHH

leaders who have provided invaluable support, there’s a strong sense of pride in witnessing the latest trends in contemporary art for children’s literature blooming in the polished work of these homegrown talents. For fans and aspiring illustrators, there’s the sweet rush of awe and wonder at these artists’ unabashed exploration of infinitely varied media and techniques. For audiences and industry leaders alike, there’s a growing anticipation of “What’s next?” for this talented community of creatives. Digging up a wealth of memorabilia,

collectibles, pubmats and keepsakes from personal collections, Ang INK looks back into its beginnings, delving into memories of the light and dark days of organizational life, and further down the road, standing proudly on a foundation built upon its present day network and series of accomplishments. At its very core, the exhibit INK Story: 30 Years of Ang Ilustrador ng Kabataan is an INK love story 30 years in the telling. Ang Ilustrador ng Kabataan (Ang INK), the country’s first and only organization of illustrators for children, launches a fresh collection of artwork sharing personal

experiences of members—playfully called INKies—in answer to the prompt: “What is your INK story?” INK Story opened recently at Wilson L. Sy Prints and Drawings Gallery, second floor, Soledad V. Pangilinan Arts Wing, Areté on campus at the Ateneo de Manila University, Katipunan Avenue, Loyola Heights, Quezon City. The Ateneo Art Gallery partners with Ang INK in bringing this anniversary celebration to life in full color. Visit online at www.ateneoartgallery.com for a virtual experience.

LIBRA (Sept. 23-Oct. 22): Set rules, boundaries and incentives to avoid opposition. Listen to suggestions, and find a way to incorporate requests. Getting along with others will be half the battle. Sincerity and acting in good faith will encourage success and long-term benefits. HHH

SCORPIO (Oct. 23-Nov. 21): Take a moment to assess situations, but don’t linger too long. Decisive action will show how capable you are and highlight your leadership qualities. Mindfulness, precision and honesty will encourage others to back the decisions you make. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Emphasize what’s important, and be realistic regarding how much you spend. Getting the most for the least by doing the work yourself instead of paying others is favored—if you know what you are doing. HHHH

CAPRICORN (Dec. 22-Jan. 19): Forward motion will keep you out of trouble. Keep your comments to yourself, and avoid wasting time on senseless battles that slow you down. The progress you make and how you treat others during the process are both essential. HH

AQUARIUS (Jan. 20-Feb. 18): Look over the possibilities and map out a course that will help you reach your destination. Refuse to let a change of plans someone makes throw you off. Put in a call to someone who always lifts your spirits. HHHHH

PISCES (Feb. 19-March 20): There is no clear-cut way to handle sensitive situations. Take the time to understand how others feel, and ask questions that offer others the chance to develop a solution without being told what to do. Aim to please, not punish. HHH Birthday Baby: You are ardent, engaging and playful. You are innovative and mysterious.

‘schmossword’ by hal moore The Universal Crossword/Edited by David Steinberg

ACROSS 1 Collectible in an album 6 “Yes, ___!” (kitchen cry) 10 “Oh no!” 13 Prenatal procedure, briefly 14 “Work” singer’s nickname 15 It’s black at Punalu’u Beach 17 ___ fries (relative of poutine) 18 Without modifications 19 Langston Hughes poem whose title precedes “sing America” 20 Ballroom dance’s sentimentality? 23 Generic seashell seller 25 Were present? 26 Limited 27 Sky display caused by solar wind 29 “Fudge!” 31 Comic Jeong 32 It may follow “any” or “some” 33 Crew blade 34 Pharma products 35 Beloved bagel topping? 39 Regarding 41 Wine barrel wood

2 Words to live by 4 45 NYSE debut 46 Breakfast that may be prepared overnight 47 Grievous 48 Acuna of the MLB 50 Scolding for a noisy moviegoer 51 Was ahead 52 Chitchat over drinks? 56 Plenty 57 Massaman curry’s cuisine 58 State with the most counties (254) 61 Unit of heredity 62 ___ Grey tea 63 Standing straight 64 12, in a date: Abbr. 65 Ready to eat...or throw out 66 Finishes in last place DOWN 1 Gloomy 2 Texter’s “Didn’t need to know that!” 3 Had complete authority 4 Mineral with thin layers 5 No Running sign’s spot

6 Fad 7 Anaconda’s “Don’t!” 8 Name within “maverick” 9 Source of some salmon 10 Like most of the world’s population 11 Goalie’s feline-esque attribute 12 Tied 16 Egg quantities 21 Syllable before “la la” 22 Sch. by the Harvard Bridge, confusingly 23 Tool that has teeth 24 “That’s odd” 28 Cookie used in some milkshakes 29 Places to moor boats 30 Classic cheer 34 Stallion’s counterpart 36 Tesla sports car 37 Enjoyed a wingback chair 38 Green vacation destination? 39 Safety device that blows up 40 Wound, as thread 43 Owed 44 From way back

46 Spanish cheer 47 ___’s Next (1971 album) 49 Nahuatl speaker 50 Expression in a dentist’s ad 53 Hindi for “tea” 54 Instrument in the Guinness logo 55 Five minus five 59 Card that often beats a king 60 Wall and Canal, briefly Solution to today’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Editor: Gerard S. Ramos

• Tuesday, November 2, 2021

GMA Pinoy TV launches ‘Stronger Together’ podcast GMA Pinoy TV has joined the global podcasting community as the flagship international channel of the media giant celebrates its 17th year of bringing Filipinos abroad closer to home. The podcast series Stronger Together: The GMA Pinoy TV Podcast showcases conversations with GMA personalities, global celebrities, and Filipinos around the world who remain strong and resilient amid life’s challenges. The podcast aims to inspire and encourage listeners to see pockets of hope in their day-today lives. Featured in the pilot episode is star Bea Alonzo as she talks about her personal life including her relationships, family, and showbiz career. “Never disregard red flags. They’re there for a reason. Kaya may women’s instinct nga silang sinasabi, totoo ’yun. You could always trust your instinct and always listen to your heart, but always have your eyes open and your mind open,” Bea reveals in the podcast. For the second episode, the lead stars of To Have and To Hold—Carla Abellana, Rocco Nacino and Max Collins—share the things that keep them hopeful and positive despite the pandemic. In another podcast episode, the latest addition to the GMA stable Kuya Kim Atienza shares the issues he went through during the lockdown, “I was afraid for my family’s health, and then for not being able to provide for my family. Nagsabay-sabay ’yung difficult moments ko and that was the time when I literally prayed to God.” The Clash judge Lani Misalucha also appears in another episode to talk about her recovery and adjustments in the pandemic, as well as living in the US. Inspiring Filipino and international personalities will be featured in forthcoming episodes of the podcast. “This is a special milestone for GMA Pinoy TV as we reach out to the growing and vibrant podcasting community through exciting conversations on life, overcoming adversity, and the stars’ memorable moments on their upcoming GMA Pinoy TV shows,” said GMA International first vice president and head of operations Joseph T. Francia. “Through this podcast, we aim to further strengthen our connection with GMA Pinoy TV viewers around the world.” Hosted by Tonie Pua, Stronger Together: The GMA Pinoy TV Podcast can be found on Spotify, Apple Podcast, and Google Podcast. More information can be found at www.gmapinoytv.com.

FROM left: Jomari Yllana, Mark Anthony Fernandez and Eric Fructuoso

Gwapings, three decades after

hirty years after they were launched as the triumvirate teenage heartthrobs by the late ace manager-discoverer Douglas Quijano, the members of the so-called Gwapings have taken three very different routes and are now leading very different lives. Only Mark Anthony Fernandez has remained active in the acting business, admitting that the passion has been reignited after a series of failed comeback bids in recent years. “I am just happy to be back, acting in front of the cameras once again, hopping from one set to another, working with old and new faces despite the ongoing pandemic,” he said. Fernandez, the lovechild of former screen siren Alma Moreno and the late action star Rudy Fernandez, opened up that he never expected to be this busy during a time when other actors are facing a drought when it comes to work. “Sometimes, in my quiet moments, I ask myself what have I done to deserve all these good breaks coming my way. But I guess all I need is just to be

open—both my mind and my heart—to accept and let all the good come into my life, a life that has been through so many ups and downs, much more downs I must say. And also to always remind myself to be thankful—for new beginnings, for second chances, for happy times.” The 42-year-old actor and father has wrapped up three movies, all for Vivamax: House Tour, directed by Roman Perez Jr.; Darryl Yap’s Barumbadings Vol. 1 Dead Mother, Dead All; and Joel Lamangan’s Deception. Since 2016, when he first won a seat in the Parañaque City Council, Jomari Yllana has set his sights on mastering the art and business of politics. He ran again and won in 2019, and is aiming to complete his third term in next year’s elections. “Like acting, being a politician is always a neverending learning process. Actual experience is the best teacher when it comes to both acting and being a public servant. I even enrolled in some public administration courses at the University of the Philippines in Diliman to make sure my foundations are in the right places. But day-to-day experience still tops when it comes to learning about the ins and outs, complexities included, of Philippine politics,” he told us recently. Now 45, Yllana shared that he had to turn down a lot of offers for him to act in front of the cameras again. “It is not easy to set aside something you love. I literally grew up as an actor in this business. Acting as a career made life very comfortable for me and those I love. Acting awakened me to the realities of life, drawing the line between make believe and actual existence. The many lessons I learned from being an actor, about the profession, about people and about

life itself, I have brought with me when I decided to become a public servant.” Like many of his coactors under the tutelage and mentorship of Douglas Quijano (Richard Gomez, Lucy Torres-Gomez, Joey Marquez, and Yllana’s older brother Anjo), the incumbent councilor has ventured into an unknown territory that he has come to embrace, accept and love. “Public service is a calling. And it is doubly challenging for actors and celebrities to constantly prove ourselves in a totally different arena that is oftentimes much more vicious, complex and cruel than show business,” he said. “Being a public servant involves a lot of sacrifices. It is not, and should never be, about you—because you have your constituents to serve, and your public’s needs to prioritize and address. There is absolutely no place in public service to collect pogi points and to brag about oneself.” Meanwhile, the third and the most mestizo member of Gwapings has chosen a more quiet life. Eric Fructuoso affirmed that he has not totally turned his back on show business: “I just opted to focus on family and business this season of pandemic.” With a little savings, Fructuoso has put up GwaPigs, an eatery that specializes in pork chop meals and he has also opened a motorbike shop in Cavite which he named GwaPigs Moto. The name Gwapigs is of course inspired by Gwapings, which catapulted Fructuoso, Yllana and Fernandez to popularity when they were barely teenagers. “I have very fond memories of our group, and it definitely brought us to where we are today.” Fructuoso is now a doting grandfather to his grandson Leo, son of his eldest son, Tres. n

‘She was my friend’—Alec Baldwin mourns cinematographer Alec Baldwin has spoken publicly for the first time on camera about the cinematographer he fatally shot on the movie set of Rust, calling her a friend and saying he is in “constant contact” with her grieving family. “She was my friend,” Baldwin told photographers on Saturday on a roadside in Vermont. “We were a very, very well-oiled crew shooting a film together and then this horrible event happened.” The video was distributed by TMZ. Investigators believe Baldwin’s gun fired a single live round that killed

BEA ALONZO is one of the featured celebrities in Stronger Together.

Spotlighting Edgar San Diego’s art and fashion Continued from B4 Man of La Mancha, M Butterfly, Aladdin, The Sound of Music; Trumpets’ The Lion, the Witch and the Wardrobe, Little Mermaid; and Newport Theater’s Priscilla, Queen of the Desert. Edgar San Diego has also successfully promoted fashion and culture through fashion shows with Filipino communities in New York, New Jersey, California, Florida, Atlanta, Missouri, Chicago, Guam, Honolulu, and London. He was also the Philippine representative to the 1989 Asean Fashion Connections in Singapore. Baro’t Saya Tuwa at Ligaya Art Exhibit is copresented by SM Appliance Center, TCL, Amelia’s Garden, Artistshop, Beringer Wines, Doltz Pilar, Flyace Corp., and Gari P. Palmani. A percentage of the sales will be donated to Special Services of Jose Reyes Medical Center. n

cinematographer Halyna Hutchins and wounded director Joel Souza. Baldwin was joined by his wife, Hilaria, when he spoke to photographers and she filmed the exchange with her smartphone, often trying to get her husband to stop talking. Baldwin said he was speaking out so that the photographers would stop following his family. Baldwin called the shooting incident a “one-in-a-trillion event” and said he had met with Hutchins’s husband. “He is in shock, he has a nine-year-old son. We are in constant contact with him because we are very worried about his

family and his kid. As I said, we are eagerly awaiting for the sheriff’s department to tell us what their investigation has yielded.” Investigators in New Mexico where the shooting occurred have said that there was “some complacency” in how weapons were handled on the movie set but it’s too soon to determine whether charges will be filed. Santa Fe County Sheriff Adan Mendoza has said 500 rounds of ammunition—a mix of blanks, dummy rounds and suspected live rounds—were found while searching the set of the Western Rust. Detectives have recovered a lead

projectile they believe the actor fired. Testing is being done to confirm whether the projectile taken from Souza’s shoulder was fired from the same long Colt revolver used by Baldwin. The FBI will help with ballistics analysis. Souza, who was standing behind Hutchins, told investigators there should never be live rounds present near the scene. District Attorney Mary Carmack-Altwies said investigators cannot say yet whether it was negligence or by whom. She called it a complex case that will require more research and analysis. AP

Discovery’s streaming service launches in the Philippines Discovery+, the streaming service of American multinational mass media company Discovery Inc., has entered the Philippine market. Offering the largest collection of non-fiction content, Discovery+ features a wide range of exclusive, original series across popular verticals from Discovery’s portfolio of networks, including HGTV, Food Network, TLC, Animal Planet, BBC and Discovery Channel. “We are bringing all Discovery brands under one roof,” Tony Qiu, general manager in East and Southeast Asia of Discovery Inc., told BusinessMirror. According to Qiu, their expansion in the country is a step in the right direction, as in-home entertainment is gaining popularity and the Internet user penetration rate is forecast to reach over 77 percent in 2025. “Combining our wide content offering and a growing consumer base, we feel like the Philippines is one of the best markets to launch our service in the Southeast Asia region,” he said. Discovery+ was rolled out globally in January and has since amassed over 18 million audiences. “Its launch in the Philippines builds on more than 25 years of Discovery’s iconic real-life brands, wellloved personalities, and larger-than-life storytelling,”

Qiu shared, adding that the depth and breadth of their catalog, as well as the personalities who anchor their programming, will serve as Discovery+’s unique selling point. “We know that there are a lot of competitors in Southeast Asia and the Philippines, as well. But the majority of them are offering fictional entertainment

content, whereas we have an array of non-scripted programming across multiple platforms, ” he said. Discovery+ will feature more than 40 new and exclusive original series, with new titles coming in each month. In addition, it will soon premier local content in 2022, starting with Drag Race Philippines. “On top of that, we have traditionally popular titles, such as 90 Days Fiance, Naked and Afraid, and Ghost Adventures,” said Qiu. Moreover, Discovery+ will feature an extensive library of top true-crime contents from Investigation Discovery, such as Unseamly: The Investigation of Peter Nygård, Signs of a Psychopath, Evil Lives Here and If I Can’t Have You: The Jodi Arias Story. Other hit international content, includes I Can See Your Voice US, MasterChef, Pawn Stars and The Boulet Brothers’ Dragula, as well as all 12 seasons of Anthony Bourdain: Parts Unknown. “We also made browsing [through our catalog] easy for subscribers,” said Qiu. “We have a ‘For You’ section that features shows that are most relevant to the subscriber and provides immediate access to series and shows from across the entire content library; their favorite networks; and interactive hero images on connected televisions,” he shared.

Tony Qiu of Discovery Inc.

B6 Tuesday, November 2, 2021

Block Tides celebrates fifth anniversary at Okada Manila

Visit and enjoy the Secret Christmas Garden at SM Southmall this holiday

HE holidays are here once again and there’s no better place to celebrate it than right at every Southies’ second home. SM Southmall is known for their larger-than-life, picturesque Christmas centerpieces that are perfect backgrounds to our holiday photos. This year however, SM Southmall unveiled their first ever experiential Christmas centerpiece! Abundant trees in varying sizes surround the whole display with a pathway leading to and unveiling the mystery of a secret garden. At the heart of the centerpiece is a 35-feet towering Christmas tree adorned with blooms and thousands of sparkling lights with giant elegant reindeers around it. Be transported to a Secret Christmas Garden at the mall’s Food Street Concourse.

There’s a lot more in store!

SM Southmall wants to bring back the joy of shoppers through fun and ‘southtacular’

activities you may safely enjoy (even with your kids)! Here are four ways you can fully enjoy Christmas with SM Southmall: The South Pole Express. Another first for the mall is their Christmas drive-thru experience with immersive displays and interactive moments that families can enjoy in the safety and comfort of their cars. Let us all aboard The South Pole Express starting December 1st! South Yuletide Markets. The Christmas bazaar will have a display of different knickknacks and gifts you can take home to the family. The South Yuletide Markets are there for the holidays so check them out at the Event Center and South Yard (near Door 4). Santa’s Here! The pandemic cannot stop Santa Claus from visiting SM Southmall. He will be at the Door 4 driveway to bring the Christmas cheer to as many Southies as possible! Drive thru with your kids on December 24 – 25 and say hi!

The Big South Sale is also something to look forward to on November 19 – 21. Up to 70% off on festive finds! Check out some last-minute Christmas gifts for your family without the long wait and shipping fees! Get a chance to drive home in a brand-new MG ZS Compact SUV with every P3,000 single or accumulated receipts from any SM Southmall store. Spread the spirit of giving this Christmas and purchase a pair of Bears of Joy. Customers get to keep one bear and the other one will be donated to the kids of SOS Children’s Villages. Just drop by the Bears of Joy booth at the Food Street Concourse and purchase a pair for only P250 until December 25. Christmas may be celebrated differently this year but its spirit is still the same! Stay up-to-date on all the holiday fun and events happening down South! Visit @smsouthmall on Facebook and Instagram.

LOCK Tides, a company empowering block chain technology, held its fifth anniversary for a cause last October 23 at the posh Okada Manila. The rising player in the blockchain community staged the event in cooperation with Vention App which is hailed as the first-ever NFT (Non-Fungible Token) marketplace in the Philippines. The occasion gathered business innovation leaders to discuss among themselves on how their emerging industry will help the country’s economy and promote high-quality learning for its patrons. On top of that was the initiative to directly help out people struggling amidst the pandemic. Block Tides has hosted around 30 road shows about blockchain and cryptocurrency, in and around South East Asia. The award-winning firm leads in serving as a role model by helping those facing the challenges of an ongoing pandemic. Event partners include Gala Games, PlaceWar, LBank, Ace eWallet, and GokuMarket. Vention App head Julius Santillan pointed out, “It's a pleasure to be part of this amazing event. I admire seeing people from different generations come together with a common level-up goal.” Kabataang May Gawa, a non-profit organization providing food for affected families, is a key stakeholder, ably assisted by industry partners GokuMarket, LBank, Dreams Quest, MerHorse, BitDogex, Alkimi Exchange, BullBear Hope, SparkPoint, PlaceWar, and Vention App. These companies also adopted a seedling initiative to plant 100 trees in support of The Haribon Foundation for the conservation of natural resources. CEO Myrtle Anne Ramos dubbed the “Princess of Blockchain”, also sits as key figure in other companies like PlaceWar and GokuMarket addresses the ongoing scenario brought about by lockdowns and contagion. She related, “This crisis is a unique moment of risk and opportunity. We need to strengthen our base and raise our voices together to steer economic recovery.”

BLOCK Tides CEO Myrtle Anne Ramos Ramos already helped hundreds of companies from the ground up and transform their businesses by disrupting, adjusting, or scale-utilizing the latest technological tools and products. She has likewise extended assistance as part of company CSR (Corporate Social Responsibility) by donating to and helping people in need like the victims of typhoon Ulysses, recent earthquakes and volcanic eruptions, and the still-ongoing global health crisis. She is credited with raising more than $200,000 from donations and giving away $60,000 through her Block Tides Live Series. She added, “We are a team of wellexperienced marketers and PR (public relations) professionals heavily involved in blockchain technology. Our team is a golden bridge towards expanding a project globally in no time with our strategic partnership between Asia Token Fund and Block PR Asia.”

Finding joy, staying healthy amid the pandemic

W Philippine Veterans Bank honors WWII centenarians

N its continuous commitment to serve and honor the country’s WWII veterans and stockholders, Philippine Veterans Bank (PVB) recognized four (4) centenarians during its recent virtual stockholders’ meeting. Witnessed by around 500 stockholder’s including the Bank’s Board of Directors and management, among the living legends honored were Veteran Nicolas Bitun Cabalang, 104 years from Balanga City, Bataan and Veteran Doroteo R. Rivera, 103 years old living in Solsana, Ilocos Norte. Both received a certificate of recognition and cash from PVB. During the defense of the country against the invasion of Japan 1941-

1942, Private First Class Nicolas Bitun Cabalang was assigned to Lingayen Gulf and the Manila Bay Area. During the Battle of Bataan, he was stationed at the Pilar-Bagac line with the 11th Division. After the surrender of the Filipino and American forces in Bataan and Corregidor, Cabalang continued to fight against the Japanese occupation forces joining the guerrillas under the Bataan Military District. His unit performed a variety of operations in the province of Bataan to weaken the Japanese influence over the area. He was honorably discharged on January 17, 1946 during the demobilization period of the guerrilla units.

THE Philippine Veterans Bank (PVB) recognized four (4) centenarians during its recent virtual stockholders’ meeting. Among them were Veteran Nicolas Bitun Cabalang, 104 years from Balanga City, Bataan and Veteran Doroteo R. Rivera, 103 years old living in Solsana, Ilocos Norte.

Another USAFFE veteran, Doroteo R. Rivera enlisted in the Philippine Army and was inducted into the USAFFE in 1941. Veteran Rivera also fought and opposed the Japanese amphibious landings in the Philippines, and fought in the Battle of Bataan until the surrender of the conventional forces. Veteran Rivera however would continue opposing the Japanese forces and join the 15th Infantry Regiment of the United States Armed Forces of the Philippines – Northern Luzon or USAFIP-NL. Armed with his .50 calibre rifle, Veteran Rivera took on various operations in Northern Luzon, particularly in the Ilocos Region. During the liberation of the Philippines, Veteran Rivera also took part in the historic Battle of Bessang Pass which resulted in the crucial victory of the Allied forces, paving the way to the defeat and eventual surrender of General Yamashita. He was honorably discharged from the military service on April 1946. These WWII living heroes’ contribution and gallantry during the war have made a lasting and indelible mark in Philippine military history. Their selfless sacrifices for the love of country will serve as guiding inspiration to the Filipinos, to uphold the values of our race and to protect and fight for our nation’s freedom whatever maybe the cost.

HILE some of us have used the quarantine to get into tip-top shape, registered dietitiannutritionist practicing integrative and functional nutrition Cheshire Que says that there are more reasons to ease back into exercise without burning out too quickly. “Go outside and get some fresh air, cuddle or play with your pets--just get moving.” Hygge, a term pronounced as “hoog-uh”, a Danish concept of seeking joy in whatever situation you find yourself in, helps to fight off isolation, depression, and seasonal affective disorder (SAD). This lifestyle undoubtedly has a direct impact on bladder health. To create or experience hygge, consider restorative activities to destress with people that matter. “Enjoy the moment with the people you love. Having a nurturing relationship is beneficial for physical, mental, and emotional health. Oxytocin also called the “love hormone” which is produced when bonding with loved ones, helps us to be in a more positive or relaxed mood.” Hygge advocates creating a cozy atmosphere. It’s built on comfort, not luxury. “If feeling extra spaced out lately, go to a quiet corner to pray, meditate or practice deep breathing,” says Que. “Meditative writing, guided imagery, and visualization have a cortisol-lowering effect and help you cope with stress and trauma.” Apparently, the term adrenal fatigue is a result of “adrenals getting beaten up” resulting in feeling tired and wired, all at the same time.

Healthy lifestyle

THINK of consuming more whole foods like fruits, vegetables, whole grains, legumes,

lean protein sources and prebiotic sources like honey, garlic, and oats. This also means cutting back on caffeine, salty, spicy, citrusy fruits and alcohol as they tend to irritate the bladder if you are suffering from urinary incontinence,” adds Cheshire. Take advantage of the opportunity to adopt new habits, like learning how to make a wellness mocktail. Try the Blue Ternatea and Old Orchard Cranberry Granita recipe from lifestyle expert, Joy Felizardo. Prepare 2 cups Old Orchard Cranberry Juice and 2 cups ternatea tea drink. For the ternatea tea: 1 tbsp. organic blue ternatea powder or 2 tbsp. brewed dried ternatea flowers in a hot cup of water and 1 tbsp. honey. You will also need 2 square pans, 7x7 inches Procedure: 1. Pour the 2 cups of Old Orchard Cranberry Juice into one of the pans. Pour the ternatea tea drink into the other pan. 2. Freeze for at least 4 hours. Once frozen, scrape both frozen liquid with a fork. Scrape from the edge of the pan to the middle. Put back in the freezer and let stand for an hour and scrape again. Do these at least 4 times with a min of 60 min. interval. 3. To serve, put the ternatea tea granita first and top with the cranberry granita. According to research, cranberries contain the active ingredient proanthocyanidins that are highly capable of preventing E. coli bacteria from adhering to the bladder wall that causes UTI. Old Orchard is available in leading supermarkets and drugstores nationwide. Visit the Facebook fan page: www.facebook. com/OldOrchardPH

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

TheWorld

Biden winds up G-20 summit with dings at Russia, China

OME—President Joe Biden wrapped up his time at the Group of 20 summit on Sunday trying to convince Americans and the wider world that he’s got things under control—and taking Russia, China and Saudi Arabia to task for not doing enough to deal with the existential threat of climate change. Biden’s overall take on his efforts: On climate change, he’s got $900 billion planned for renewable energy, and Congress will vote this coming week. On supply chains, he has plans to make the ports run better and tamp down inf lation. For workers, he’s building an economy with pay raises. On diplomacy, world leaders trust him. But he also acknowledged what he can’t yet achieve: bringing Russia, China and Saudi Arabia to the table with the broader international community to limit carbon emissions and move to renewable energy. In a news conference Sunday, the US president spelled out his belief that all politics is personal and that what progress was achieved at the Rome summit came from direct interactions with other leaders. “They know me. I know them,” Biden said of his fellow G-20 leaders. “We get things done together.” “We’ve made significant progress and more has to be done,” Biden added. “But it’s going to require us to continue to focus on what Russia’s not doing, what China’s not doing, what Saudi Arabia’s not doing.” For all the challenges confronting him, the president attempted to stay optimistic. As Biden departed the news conference, he offered a thumbs up when asked if West Virginia Sen. Joe Manchin and Arizona Sen. Kyrsten Sinema—key Democratic votes—were on board with his $1.75-trillion spending package for families, health care and renewable energy. The president also shrugged off his recent decline in the polls, saying that numbers go up and down. As for the potential significance of Biden’s thumbs-up on congressional negotiations, White House deputy press secretary Karine JeanPierre, said, “As the President said during the press conference, he is confident we are going to get this done and the thumbs up was simply

a visual restatement of that.” But the policy issues also seemed to fade for Biden when asked about his time Friday with Pope Francis. The president became deeply emotional, his hands appearing to fiddle with the mask he wore as a precaution because of Covid-19. He spoke of how the pope comforted the Biden family in a Philadelphia air port hangar after the death of his son, Beau, in 2015. “When I won, [Pope Francis]called me to tell me how much he appreciated the fact that I would focus on the poor, focus on the needs of people who are in trouble,” Biden said. “He is everything I learned about Catholicism from the time I was a kid going from grade school to high school.” The president did leave the G-20 with commitments by his fellow leaders on a global minimum tax that would make it harder for large companies to avoid taxes by assigning their profits to countries with low tax rates. He announced new funding to improve ports and shipping, in addition to a conference next year on supply chains. He patched up differences with the European Union on tariffs and differences with France on the sale of nuclear-powered submarines to Australia. The president met Sunday with Turkish President Recep Tayyip Erdogan, whose office said the meeting was held in a “positive atmosphere” despite tensions over human rights and Turkey’s purchase of a Russian missile system, among other issues. Biden heads Monday to the UN climate summit in Scotland, where he’ll once again face questions about whether the world ’s wealthiest are doing enough to stop the warming of the Earth by moving away from fossil fuels. The president on Sunday dismissed the contradiction that he’s fighting for climate change while also asking oil-rich countries to increase their production in order to lower gasoline prices for US commuters. “The idea that we’re not going to need gasoline for automobiles is just not reali st ic,” Biden sa id. “ It h a s a profound impact on work ing-class fami lies, just to get back and for th to work . So I don’t see a ny t h i ng i nconsi stent w it h t h at.” AP

BusinessMirror

Tuesday, November 2, 2021

‘Last, best hope’: World leaders start crucial UN climate summit

LASGOW, Scotland—A crucial UN climate summit opened Sunday amid papal appeals for prayers and activists’ demands for action, kicking off two weeks of intense diplomatic negotiations by almost 200 countries aimed at slowing intensifying global warming and adapting to the climate damage already under way.

As UN officials gaveled the climate summit to its formal opening in Glasgow, the heads of the world’s leading economies at the close of their own separate talks in Italy made pledges including stopping international financing of dirty-burning coal-fired power plants by next year. But much of the agreement was vague and not the major push some had been hoping for to give momentum to the climate summit. Gover nment leaders face t wo choices in Glasgow, Patricia Espinosa, head of the UN climate office, declared at the summit’s opening: They can sharply cut greenhouse gas emissions and help communities and countries survive what is becoming a hotter, harsher world, Espinosa said. “Or we accept that humanity faces a bleak future on this planet.” “It is for these reasons and more that we must make progress here in Glasgow,” Espinosa said. “We must make it a success.” India Logan-Riley, an Indigenous climate activist from New Zealand, had a more blunt message for negotiators and world leaders at the summit’s opening ceremony. “Get in line, or get out of the way,”

Logan-Riley said. But G-20 leaders offered more vague pledges than commitments of firm action, saying they would seek carbon neutrality “by or around midcentury.” They also agreed to end public financing for coal-fired power generation abroad, but set no target for phasing out coal domestically—a clear nod to China and India. The G-20 countries represent more than three-quarters of the world’s climate-damaging emissions and G-20 host Italy and Britain, which is hosting the Glasgow conference, had looked for more ambitious targets coming out of Rome. But major polluters including China and Russia had already made clear they had no immediate intention of following US and European pledges to zero out all fossil-fuel pollution by 2050. Russia said on Sunday that it was sticking to its target of 2060. Speaking to reporters before leaving Rome, US President Joe Biden called it “disappointing” that G-20 members Russia and China “basically didn’t show up” with commitments to address the scourge of climate change ahead of the UN climate summit. British Prime Minister Boris John-

son struck a grim tone, saying G-20 leaders “inched forward” on curbing global warming, but the goal of limiting temperature rise to 1.5 degrees Celsius (2.7 Fahrenheit)—struck in a landmark deal at the end of the 2015 Paris climate accord—was in danger of slipping out of reach. “If Glasgow fails then the whole thing fails,” Johnson told reporters in Rome. Some observers said the G-20 pledges were far from enough. “This weak statement from the G-20 is what happens when developing countries who are bearing the full force of the climate crisis are shut out of the room,” said Mohamed Adow, director of Power Shift Africa. “The world’s biggest economies comprehensively failed to put climate change on the top of the agenda ahead of COP26 in Glasgow.” While the opening ceremony in Glasgow formally kicked off the talks, known as COP26, the more anticipated launch comes Monday, when leaders from around the world will gather to lay out their countries’ efforts to curb emissions from burning coal, gas and oil and deal with the mounting damage from climate change. The leaders of two of the top climate-polluting nations—China and Russia—were not expected to attend the summit, though senior officials from those countries planned to participate. For Biden, whose country is the world’s biggest climate polluter after China, the summit comes at a time when division within his own Democratic party is forcing him to scale back ambitious climate efforts. At the Vatican Sunday, Pope Francis urged the crowds gathered in St. Peter’s Square: “Let us pray so that the cry of the Earth and the cry of the poor” is heard by summit participants. Negotiators will push nations to

ratchet up their efforts to keep global temperatures from rising by more than 1.5 degrees Celsius this century compared with pre-industrial times. The climate summit remains “our last, best hope to keep 1.5 in reach,” said Alok Sharma, the British government minister chairing climate talks. Scientists say the chances of meeting that goal are slowly slipping away. The world has already warmed by more than 1.1C and current projections based on planned emissions cuts over the next decade are for it to hit 2.7C by the year 2100. The amount of energy unleashed by such planetary warming would melt much of the planet’s ice, raise global sea levels and greatly increase the likelihood and intensity of extreme weather, experts say. US climate envoy John Kerry warned last week of the dramatic impacts that exceeding the 2015 Paris accord’s goal will have on nature and people, but expressed optimism that the world is heading in the right direction. Sharma noted that China, the world’s biggest emitter of greenhouse gases, had just raised its climate targets somewhat. “But of course we expected more,” Sharma told the BBC earlier Sunday. India, the world’s third biggest emitter, has yet to follow China, the US and the European Union in setting a target for reaching “net zero” emissions. Negotiators are hoping India’s Prime Minister Narendra Modi will announce such a goal in Glasgow. Some of the issues being discussed during the talks have been on the agenda for decades, including how rich countries can help poor nations tackle emissions and adapt to a hotter world. The slow pace of action has angered many environmental campaigners, who are expected to stage loud and creative protests during the summit. AP

G-20 leaders make mild pledges on net-zero emission deadlines Blinken raised concerns

OME—Leaders of the world ’s big gest econom ies a g reed Sunday to stop funding coalfired power plants in poor countries and made a vague commitment to seek carbon neutrality “by or around mid-century” as they wrapped up a Rome summit before the much larger United Nations climate conference in Glasgow, Scotland. W hile Ita lian Pr ime Minister Mario Draghi and French President Emmanuel Macron described the Group of 20 summit as a success, the outcome disappointed climate activists, the chief of the UN and Britain’s leader. The UK is hosting the two-week Glasgow conference and had looked for more ambitious targets to come out of Rome. Br it ish Pr ime Minister Bor is Johnson called the G-20’s commitments mere “drops in a rapidly warming ocean.” UN Secretary-General Antonio Guterres agreed the outcome was not enough. “While I welcome the #G20’s recommitment to global solutions, I leave Rome with my hopes unfulfilled—but at least they are not buried,” Guterres tweeted. “Onwards to #COP26 in Glasgow.” T he G -20 countries represent more than three-quarters of the world ’s greenhouse gas emissions, and Britain had hoped for a “G-20 bounce” going into the Glasgow COP26 meeting. Environmentalists and scientists have described the UN conference as the world ’s “ last best hope” for nailing down commitments to limit the global rise in temperature to 1.5 degrees Celsius (2.7 degrees Fahrenheit) above the pre-industrial average. The summit laid bare the divisions that still exist between Wester n countr ies t hat pol luted t he planet the most historically but are now seeing emissions decline and the emerging economies led by China whose emissions are rising as their economies grow. Britain pushed for a commitment

to achieve climate neutrality or netzero emissions, meaning a balance between greenhouse gases added to and removed from the atmosphere, by 2050. The United States and the European Union have set 2050 as their own deadline for reaching net-zero emissions, while China, Russia and Saudi Arabia are aiming for 2060. The leaders of those three countries didn’t come to Rome for the summit. In the end, the G-20 leaders arrived at a compromise to achieve climate neutrality “ by or around mid-century,” not a set year. Before leaving Rome, US President Joe Biden called it “disappointing” that G-20 members Russia and China “ basically didn’t show up” with commitments to address the scourge of climate change ahead of the UN climate conference. Russian leader Vladimir Putin and Chinese President Xi Jinping are not expected to attend the conference in Glasgow, although they are sending senior officials to the international COP26 talks. “The disappointment relates to the fact that Russia...and China basically didn’t show up in terms of any commitments to deal with climate change. And there’s a reason why people should be disappointed,” Biden said, adding: “I found it disappointing myself.” Biden’s comments came in response to a reporter’s question about the modest pledges made during the G-20 summit. “ We made commitments here from across the board in ter ms of what we’re going to br ing to [COP26],” the president said. “As that old trade saying goes, the proof of the pudding will be in the eating.” Earlier in the day, Russian Foreign Minister Sergey Lavrov pushed back at the West’s target date. “Why do you believe 2050 is some magic figure?” Lavrov asked at a news conference. “If it is an ambition of the European Union, it is the

right of other countries also to have ambitions....No one has proven to us or anybody else that 2050 is something everyone must subscribe to.” Italy’s Draghi said the declaration went further on climate than any G-20 statement before it. He noted that it referred to keeping the 1.5-degree global warming target within reach, something that science shows will be hard to accomplish unless the world dramatically cuts emissions from fossil fuels. “ We c h a nged t he goa lpost s,” Draghi told reporters. Canadian Premier Justin Trudeau said that G-20 leaders were able to get together was in itself a success given the coronavirus pandemic. “The fact that we have well laid out the table and know where the sharp edges are, and know what work we’re going to have to do at COP… is a very positive step,” Trudeau said. The future of coal, a key source of greenhouse gas emissions, also proved one of the most difficult issues on which to find consensus for the G-20. At the Rome summit, leaders agreed to “put an end to the provision of international public finance for new unabated coal power generation abroad by the end of 2021.” That refers to financial support for building coal plants abroad. Wester n countr ies have been moving away from such financing and major Asian economies are following suit: Chinese President Xi Jinping announced at the UN General Assembly last month that Beijing would stop funding such projects, and Japan and South Korea made similar commitments earlier in the year. China has not set an end date for building coal plants at home, however. Coal is still China’s main source of power generation, and both China and India have resisted proposals for a G-20 declaration on phasing out domestic coal consumption. The failure of the G-20 to set a

target for phasing out domestic coal use was a disappointment to Britain. But Johnson’s spokesperson, Max Blain, said the G-20 communiqué “was never meant to be the main lever in order to secure commitments on climate change,” noting those would be hammered out at the Glasgow summit. John Kirton, director of the G-20 Research Group at the University of Toronto, said the leaders “took only baby steps” in the agreement and did almost nothing new. He pointed to the agreement to “recall and reaffirm” their overdue commitment to provide $100 billion in assistance to poorer countries and to “stress the importance of meeting that goal fully as soon as possible” instead of stating that they were ready to stump up the full amount. The agreement to end international coal financing “ is the one thing that’s specific and real. That one counts,” Kirton said. Youth climate activ ists Greta Thunberg and Vanessa Nakate issued an open letter to the media as the G-20 was wrapping up, stressing three fundamental aspects of the climate crisis that often are downplayed: that time is running out, that any solution must provide justice to the people most affected, and that the biggest polluters often hide behind incomplete statistics about their true emissions. “The climate crisis is only going to become more urgent. We can still avoid the worst consequences, we can still turn this around. But not if we continue like today,” they wrote, just weeks after Thunberg shamed global leaders for their “ blah blah blah” rhetoric during a youth climate summit in Milan. Greenpeace Executive Director Jenn ifer Morga n sa id t he G -20 failed to prov ide the leadership the world needed. “I think it was a betrayal to young people around the world,” she told The Associated Press on Sunday. AP

about Taiwan with China

OME—US Secretary of State Antony Blinken met with Chinese Foreign Minister Wang Yi as part of the Group of 20 summit on Sunday—an outreach designed to ensure that the intensely competitive relationship between the world’s two largest economies doesn’t veer into open conflicts. Senior State Department officials described the conversations as candid, constructive and productive, saying that Blinken was clear about US concerns during the roughly hour-long meeting. The officials insisted on anonymity to discuss the exchanges. One of the US goals is to maintain an open line of communication with China and set a virtual meeting later this year between US President Joe Biden and Chinese President Xi Jinping. A Chinese Foreign Ministry statement said that Wang, while blaming the US for a sharp deterioration in relations, said he would like to establish regular contact with Blinken to exchange views on how to manage the differences between their two countries, avoid misjudgments and explore cooperation. Blinken said at the meeting that China has increased tensions with regard to Taiwan and that America wants to continue its “one-China policy,” which recognizes Beijing but allows informal relations and defense ties with Taipei. During China’s National Day weekend in early October, China dispatched 149 military aircraft southwest of Taiwan in strike group formations, causing Taiwan to scramble aircraft and activate its air defense missile systems. Biden alarmed China shortly after by saying that the US has a firm commitment to help Taiwan defend itself in the event

of a Chinese attack. Asked in a CNN town hall whether the US would come to Taiwan’s defense, Biden said, “Yes, we have a commitment to do that.” US officials immediately moved to clarify that there had been no change to US posture toward Taiwan. Blinken told CNN on Sunday that there is “no change” in the US’ longstanding commitment under the Taiwan Relations Act “to make sure that Taiwan has the means to defend itself. And we stand by that.” He said Biden’s commitment dated back to his time as a US senator. Wang blamed the current Taiwan leadership for the uptick in tensions, as well as US support for what he called “Taiwan independence forces,” the Chinese statement said. He called on the US to pursue a real one-China policy instead of a fake one, accusing the American side of saying one thing and doing another. China and Taiwan separated during a civil war in 1949. The US cut formal diplomatic relations with Taipei in 1979 in order to recognize Beijing. The US does not openly contest China’s claim to Taiwan, but is committed by law to ensure the island can defend itself and to treat all threats toward it as matters of grave concern. Blinken noted that the G-20 summit is being followed by the United Nations climate summit in Scotland, saying that the US expects China to curb its greenhouse gas emissions as a responsible global power for the good of the world. Trade issues did not come up in any detail, as the conversation largely stayed in the political realm. Nor was China’s recent test launching of a nuclear-capable hypersonic missile discussed by the two leaders. AP

Sports

Reyes likens PHL Cup victory to 1st PBA title 28 years ago

BusinessMirror

| Tuesday, November 2, 2021

mirror_sports@yahoo.com.ph Editor: Jun Lomibao

ASTROS STAY ALIVE

THE Astros’ Carlos Correa hits an RBI-double in the third inning of Game 5 of the World Series on Sunday. AP

TLANTA—Just in time, Carlos Correa and the Houston Astros broke out the bats. Because if they had waited any longer, this World Series would’ve been over. Staggered by Adam Duvall’s grand slam in the first inning, Correa and Alex Bregman ended their slumps in a hurry. They kept swinging, too, refusing to let their season slip away and rallying past the Atlanta Braves, 9-5, early Monday to cut their Series deficit to 3-2. The Braves might not admit it was a deflating defeat—66-year-old manager Brian Snitker is too steady and savvy for that. But by any measure in the Analytics Age, this had to sting. “I’m just glad we get to go back to Houston. That was our goal today,” Astros skipper Dusty Baker said. Correa came through with three hits after getting moved up to third in the lineup for Game 5 while Bregman was dropped to seventh. Martín Maldonado found three different ways to drive in runs and pinch-hitter Marwin Gonzalez blooped a two-out, two-run single in the fifth for a 7-5 lead. A matchup of bullpens turned into the first high-scoring game of this Fall Classic, and the highestscoring team in the majors this year won it. Couldn’t hold down the Astros forever, a parade of Braves pitchers found out as the clock passed midnight and the calendar flipped to November. “We’ve got a clubhouse full of bad dudes in there. And our lineup is very deep,” Correa said.

Correa gained attention earlier this postseason for marking big hits by pointing at his wrist, where a watch might be. His time, he said. The star shortstop doubled and singled twice, driving in two runs. His RBI single in the eighth padded the lead and as Jose Altuve got congrats in the dugout after scoring, the Fox TV mics picked up someone on the bench yelling “It’s time!” A night earlier, the Astros went 0 for 8 with runners in scoring position in a 3-2 loss. That left Correa at 2 for 14 overall in the series and Bregman worse at 1 for 14. “Before the game we talked and we said, `We’re not gonna give up,’” Correa said. “We’re gonna go out there fighting.” Atlanta had been 7-0 at home in the postseason, and a boisterous crowd inside Truist Park and packed plaza outside came early hoping to celebrate its first championship since 1995. “If we win the World Series, it doesn’t matter where it is,” Snitker said. “I’d have loved to have done it in front of our fans. Hopefully, we can do it the next couple of days.” Duvall’s slam sent a dozen Braves careening from the dugout, a full-out frenzy of hollering, twirling and dancing. “We celebrated it. We got excited, and that’s what you do when you hit home runs—but it’s a long game. That happened in the bottom of the first. It’s a nine-inning game, and they didn’t quit,” Duvall said. Indeed, any victory party was premature—even after Freddie Freeman’s long homer put Atlanta ahead 5-4. AP

League of their own I CAME across the Sports Illustrated Daily Cover article, “How One Women’s Football Team Took Control Away From the Men” by Britni de la Cretaz and Lyndsey D’Arcangelo. As I was doing my research on women’s American football, there’s a lot of history behind the effort to establish the sport. The earliest recorded attempt at doing it was as early as in the 1970’s, according to the aforementioned article. “The Pacesetters moved under SKW’s ownership in 1974. Wallace served as the team’s general manager. That year, many of [Benny] Friedman’s other teams joined forces with SKW’s teams and a few independent women’s football outlets around the country to form a single, unified group: the National Women’s Football League. It was the first official professional women’s football league in US history and consisted of seven teams: the Los Angeles Dandelions, Toledo Troopers, California Mustangs, Dallas–Fort Worth

INCENT “CHOT” REYES marked his return as head coach in the Philippine Basketball Association (PBA) by banging the gong so loudly that the Magnolia Hotshots played as if they almost had no chance at bringing down the TNT Tropang Giga. Reyes and the Tropang Giga scored an emphatic 94-79 Game 5 victory on Friday in Pampanga to run away with the Philippine Cup, ending the race-to-four series at five games. Reyes left the PBA in 2012 to tend to the national team—he coached Gilas Pilipinas back to the Fiba 2014 World Cup in Spain—and to hold the corporate reins of ESPN 5 after that. On Year 2 of the Covid-19 pandemic, he was recalled to mentor the Manuel V. Pangilinan franchise. And was he successful in his return, the feeling of winning the championship he likened to his first PBA title 28 years ago, almost a generation, as a head coach. “It seemed like déjà vu to 1993 when I won my first title in my very first tournament as head coach,” Reyes said. “It feels great.” Reyes, then the youngest PBA head coach at 29, led Coney Island led by PBA greats Alvin Patrimonio and Jerry Cordiñera to the 1993 Philippine Cup title. They beat a powerhouse San Miguel Beer in six games. Fast forward to 2021. Reyes did

OBIENA WON’T BE HOME FOR CHRISTMAS

By Josef Ramos

T would be Christmas Italianstyle for Asian men’s pole vault record holder Ernest John “EJ” Obiena for the third straight year. Celebrating the holidays with his family in Tondo would have to wait another year. “This will be my third straight Christmas here,” the Tokyo Olympian Obiena told BusinessMirror from Formia, Italy, where he would be practically locked down for God knows when at the moment. “I was here since 2018.” “If I go home, I can’t go back here [that easily] because I am not on the list of those who can return here as of the moment,” the Tokyo Olympian Obiena said. “I don’t have a [employment] contract, I am not officially working here, not a resident nor a citizen.” “And I don’t have any immediate concern so I can’t go home then simply come back here,” the 25-year-old Southeast Asian Games gold medalist added. The Philippines is on the Italian Immigration’s E list of countries and travel from this group borders from very strict protocols to forbidden. Obiena said that Philippine Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino wrote the Italian National Olympic Committee (CONI) for the Filipino athletes’ clearance and “some understanding” on his desire to return home to the Philippines. The CONI has yet to reply.

Shamrocks, Detroit Demons, Dallas Bluebonnets and Columbus Pacesetters.” After the 2002 season, the National Women’s Football League was pressured by the National Football League (NFL) to make a name change and for some of the teams to change their team logos because of the strong semblance to those NFL teams. Presently, there are three major women’s American football sports organizations, two are in the US and one in Great Britain. Possibly, there may be others as well. The Women’s National Football Association (WNFA), formerly the National Women’s Football League, the Women’s National Football Conference and BritishAmerican Football’s Women’s National Football League which, obviously, has not received a request from the US’s National Football League or NFL to change their name. The Women’s National Football Conference, according to its website, “The Women’s Contact League started in 2012 and was originally played in the 5v5 format called the Sapphire Series. As the women’s contact game grew over the years, the league was extended to a two tier system with a Division One and Division Two in 2016, each with a North and South conference. After seeing a further growth in participation in 2017/18, all divisions were moved to the 7v7 format which is the format that we play today. The league currently has 17 active clubs located across Great Britain—making the sport widely accessible to athletes across the country. In 2020, the Sapphire name was dropped in favor of a more conventional name for the league, the National Women’s Football League (NWFL), and the season was moved to the summer period to avoid a crossover with the winter sports schedules. “As well as the annual 7v7 league, the NWFL also

IT’S deja vu for TNT Head Coach Chot Reyes.

it with a formidable team made even more fluid by his two Ws— fellow returning 14-year league veteran Kelly Williams and 29-yearold spitfire rookie Mickey Williams. “I don’t have to explain how important Kelly [Williams] is to our team. Anyone who understands the game can see this,” said Reyes, who now has nine PBA championships with five different teams. “I didn’t have to convince him. I just asked him if he was open to coming back.” Kelly Williams retired for “personal reasons” September last year but was back in TNT uniform in six months. Mickey Williams was picked fourth in the draft for one goal—fill up the scoring void left by Bobby Ray Parks Jr., who’s now plying his trade in Japan. Parks averaged 22.4 points for TNT in the 2020 bubble season, numbers Mikey Williams easily filled up. He was named Finals Most Valuable Player with Finals averages of 27.6 points, 5.6 rebounds and 4.8 assists. “Mikey was voted MVP of the Finals, I don’t think I have to say anything more,” Reyes said. The next conference for the abbreviated 46th season is due soon. So what’s next for Reyes and TNT? “We need to get better,” Reyes said. Josef Ramos ERNEST JOHN “EJ” OBIENA gets to have some fun when he’s not with his pole vault.

So for now, Obiena would continue training under long-time Ukrainian coach Vitaly Petrov at the world pole vault center in Formia. His focus is the World Indoor Athletics Championships set from March 18 to 20 in Belgrade. “Belgrade’s the closest major competition for me,” said Obiena, who competed uninoculated in Tokyo but already got two doses of Pfizer vaccines upon his return to Italy in August. The 31st SEA Games in Hanoi in May and the 19th Asian Games in Hangzhou in September would have to wait, Obiena said.

“The indoor season here in Europe comes first so I’ll first focus on that,” he said. Obiena has been undergoing a spartan-like training since arriving in Italy three years ago. And the lure of Italian food are banned from touching his palate under his regimen. “There’re a lot of delicious pizza here, but we can’t eat them because we’re following a very strict diet,” said Obiena, whose training is bankrolled by the Philippine Sports Commission under Chairman William Ramirez. Obiena was not in his elements

provides women with the opportunity to compete in an 11v11 format. The NWFL Super 11s series offers female athletes the opportunity to play the more traditional version of the sport that we see in the NFL and NCAA. The series has had various guises over the years and has previously acted as trials for the GB National team. In its current form, the series consists of three full day training sessions, culminating with a North vs South game. “Since its inception in 2012, the Women’s Contact game has experienced incremental growth over the years. As we continue to achieve sustainable organic growth, the overall objective is to move to full field football in the near future with plans to move to the 9v9 format for the 2022 season. There are also hopes to extend the women’s league to full 11v11 in the future.” As for the Women’s National Football Conference, its website says, “WNFC has revolutionized sports by bringing women’s tackle football to the world stage for the first time. Our business not only fills a critical gap in the most popular sport in the world, but we are also inspiring women and girls to dream big, build big, and hit hard. We are building a sports entertainment, apparel, and lifestyle company that will change the way the world sees women. On December 18, 2018, adidas launched a groundbreaking partnership with the WNFC as a part of their “She Breaks Barriers” campaign. They launched their inaugural season in 2019 with 15 teams. With one season of play under their belt, the WNFC became one of the fastestgrowing sports brands in the country. The league has been featured by CBS, Iheartradio, NFL Network, NBC, ABC, FOX4, Yahoo Sports, Sports Illustrated, and is recognized as the leader in bringing sponsors, media and new fans to women’s tackle football.

in Tokyo and finished second to last at 11th in the final won by world record-holder Armand Duplantis. He recovered soon after by shattering the Philippine record twice—the first last August 29 at the Diamond League in Paris where he clinched silver medal with 5.91-meter effort. He came back stronger on September 12 at the Golden Roof Challenge in Innsbruck, Austria, where he broke the 29-year-old 5.92-meter Asian record that Kazakhstan’s Igor Potapovich set in 1992 with a jump of 5.93 meters to snare gold.

The WNFC supplies athletes, coaches and fans with the most entertaining, high-quality, most competitive brand of football for women in the country. Fueled by passion and a plan to deliver professional women’s tackle football to the world. Players in the WNFC are offered state-of-the-art protection on the field and ample opportunities off of it through partnerships and alliances developed by the WNFC leadership team. In 2021, the WNFC featured 20 teams, playing a 10week (spring 2021) season, broadcasting globally on Vyre Network; culminating with the championship game in Dallas, TX (Aug 2021). Catherine Masters, founder of the NWFA, was inducted into the American Football Association’s Semi Pro Football Hall of Fame in 2006. And the dream continues for women’s American Football to be recognized as a professional sport. “The Pacesetters’ story and women’s American Football for that matter, is one of resistance that is relevant today when it comes to the way women athletes are still trying to gain agency, power, and investment for their leagues. We see it happening with the National Women’s Soccer League, with players demanding better from the league, its team owners and its coaches. We see it happening in the Women’s National Basketball Association, where players used their voices and platforms to enact positive change within the league via a new collective bargaining agreement, increasing player salaries and benefits. And we see it in the National Football League, where more and more women are becoming part of the fold as coaches, scouts and team owners.” Leagues of their own indeed.