BusinessMirror November 03, 2023 by BusinessMirror

MB may still hike rates despite pause by Fed

WORLD | A5

DIPLOMATIC EFFORTS TO PAUSE FIGHTING GAIN STEAM AS ISRAELI GROUND TROOPS PUSH TOWARD GAZA CITY

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HE pause in the rate hike of the United States Federal Reserve does not bring analysts comfort that the Philippine monetary authorities will take the same position when they meet in two weeks. Local analysts are not discounting the possibility that the Monetary Board will again raise interest rates after an off-cycle hike of 25 basis points. With the unscheduled rate hike, the target Reverse Repurchase (RRP) Rate is now at 6.5 percent, a new 16-year high.

The Monetary Board is expected to meet on November 16, the second to the last meeting of the monetary authorities for the year. The last meeting is scheduled for December 14. “While we think they [Monetary Board] can pause, we can’t rule out another hike on November 16 if GDP beats expectations and inflation expectations do not appear to be well anchored and is at risk of straying persistently from its 4-percent target due to secondround effects,” Bank of the Philip-

pine Islands (BPI) Chief Economist Emilio S. Neri told BusinessMirror on Thursday. Neri said the Monetary Board’s decision will depend on various factors, and the move of the Federal Open Market Committee (FOMC) is only one of them. The considerations will also include the Bangko Sentral ng Pilipinas (BSP) inflation expectations. Late on Tuesday, the BSP disclosed that it is expecting October inflation to average anywhere between 5.1 percent and 5.9 percent.

This is slower than the 6.1-percent inflation posted in September. (full story here: https://businessmirror. com.ph/2023/11/02/bsp-now-projectsoctober-inflation-at-5-1-5-9/) However, BSP Governor Eli M. Remolona Jr. earlier alluded to this slower inflation and said it may only be short-lived, as inflation is expected to rear its ugly head soon after. (Full story here: https://businessmirror.com.ph/2023/10/25/bsp-off-cyclerate-hike-is-on-the-table/) See “MB,” A2

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$315-M COVID-19 LOANS By Cai U. Ordinario @caiordinario

Global shares rise on hopes the Fed’s rate hikes are done

HE World Bank approved the Philippine government’s request to cancel and restructure the three loan agreements for the Covid-19 Emergency Response Project.

In a letter to Finance Secretary Benjamin E. Diokno, World Bank Country Director for Brunei, Malaysia, Philippines and Thailand Ndiame Diop said that $314.82 million worth of loans were cancelled and another loan's closing date was extended. The amount covered a $300-million loan for the program as well as $14.82 million unused in another loan with a total amount of $500 million. The closing date for another loan for the same project was extended to December 29, 2024 from December 31, 2023. “This amendment letter shall become effective as of the later date of the Bank’s receipt of a duly countersigned original of this letter by the authorized representative of the Borrower; except for the extension of the Closing Date under subparagraph [A] above, which shall become effective upon dispatch of this amendment letter to the Borrower, and for the cancellation under sub-paragraphs [B] and [C] above, which shall become effective as of September 15, 2023,” Diop said. Diokno, who is the authorized representative of the national government, has already confirmed the agreements and signed the document last October 31, 2023. See “WB,” A2

REMEMBERING THE ‘DESAP’ The solemn gathering at Bantayog ng mga Bayani in Quezon City on November 2, 2023, serves as a poignant collective expression of remembrance and a fervent call for justice. In this emotionally charged event, relatives and friends of "Desaparecidos" come together, offering flowers and lighting candles as symbolic gestures of tribute to the missing individuals. NONOY LACZA

KANAMIT GUID! ILOILO TAGGED UNESCO CITY OF GASTRONOMY By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

ANCIT Molo, KBL (KadyosBaboy-Langka), Laswa...and more. These are among the most popular dishes in Iloilo that have made it a haven for foodies and tourists in general. For these, the United Nations Educational, Scientific and Cultural Organization (Unesco) has recognized Iloilo a City of Gastronomy under its Creative Cities Network (UCCN), the first city in the Philippines to be designated such. Also named as cities of gastronomy this year were Chaozhou, China; Fribourg, Switzerland; Gangneung, South Korea; Heraklion, Greece; and Nkongsamba, Cameroon.

In a post on his Facebook page, Iloilo City Mayor Jerry Treñas said: “I share this award with the Ilonggos like me, who love to cook our Ilonggo Food. Now, we can be proud to say Ilonggo cuisine is taking the stage in the international gastronomy scene.” He also expressed gratitude to Rep. Christopher de Venecia (4th District, Pangasinan/ Lakas-CMD), who had helped boost the city government’s efforts for Iloilo to be recognized by Unesco. Data from the Department of Tourism showed Iloilo City received 752,301 tourists in 2022, largely domestic travelers, although this was still 36 percent less than the 1.17 million, who visited in prepandemic 2019. See “Kanamit,” A2

OK YO — Globa l sha res were mostly higher Thursday after the US Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy. France’s CAC 40 rose 1.2 percent to 7,018.50. Germany’s DAX gained 1.1 percent to 15,084.21. Britain’s FTSE 100 climbed 1.0 percent to 7,417.45. The future for the Dow Jones Industrial Average was up 0.3 percent and that for the S&P 500 gained 0.5 percent. In A sian trad ing , Japan’s benchmark Nikkei 225 gained 1.1 percent to finish at 31,949.89. In Japan, Prime Minister Fumio Kishida announced an economic stimulus package worth about $113 billion that is meant to cushion the blow to household budgets from rising inflation and timed to counter weakening public support for his government. The package includes tax breaks for individuals and companies and subsidies to reduce rising energy costs. Au st ra l i a’s S & P/A S X 20 0 jumped 0.9 percent to 6,899.70. South Korea's Kospi surged 1.8 percent to 2,343.12. Hong Kong’s Hang Seng added 0.8 percent to 17,230.59. But the Shanghai Composite fell 0.5 percent to 3,009.41 after the central bank reported a decline in property loans, the first such drop since 2005. On Wednesday, the S&P 500 rose 1.1 percent and the Dow industrials gained 0.7 percent. The Nasdaq composite jumped 1.6 percent. Fed Chair Jerome Powell said the central bank is unsure that its main interest rate is high enough to ensure high inflation will move down to its 2 percent target. That kept alive the possibility of more hikes by the Fed. He also said the Fed is not considering cuts to interest rates, which can act like steroids for financial markets. See “Global,” A2

PESO exchange rates n US 56.9030 n japan 0.3818 n UK 69.2396 n HK 7.2758 n CHINA 7.7827 n singapore 41.7024 n australia 36.2472 n EU 60.4139 n KOREA 0.0423 n SAUDI arabia 15.1677 Source: BSP (October 31, 2023)

News

BusinessMirror

A2 Friday, November 3, 2023

WB… Continued from A1

The Covid-19 Emergency Response Project was created to strengthen the country's capacity to prevent, detect and respond to the threat posed by the pandemic as well as strengthen national systems for public health preparedness. In 2022, the Philippines received a total of $32.4 billion worth of Official Development Assistance (ODA), according to a report released by the National Economic and Development Authority (Neda). The Asian Development Bank (ADB) emerged as the leading provider of ODA in the country, surpassing Japan, which held the top position for the preceding seven consecutive years. ODA provided by ADB accounts for 33.47 percent share or $10.85 billion of the active ODA portfolio in 2022. Moreover, ADB has also taken the lead in terms of new commitments in 2022, with a total of $2.51 billion. Japan secured the second spot with 30.75 percent or $9.96 billion, followed by the World Bank with $6.86 billion; China, $0.98 billion; and Korea, $0.91 billion. ODA from ADB, Japan and the World Bank registered the highest disbursement levels in 2022 with $2.11 billion, $1.29 billion and $1.27 billion, respectively.

www.businessmirror.com.ph

To breeze thru immigration, chief pitches e-gates’ use

By Joel R. San Juan @jrsanjuan1573

HE Bureau of Immigration (BI) on Thursday urged arriving Filipinos to use the airport’s electronic gates (e-gates) for faster processing time even after the Undas break.

BI Commissioner Norman Tansingco said e-gates can lessen processing time from the usual 45 seconds to at least eight seconds. Tansingco noted that 21 e-gates are currently available in major interna-

tional airports nationwide. Tansingco made the appeal after the agency noted that out of the total 32,045 passengers who arrived on the last day of October, only 5,210 utilized the e-gates.

Global…

But Powell acknowledged that a recent run higher in longer-term Treasury yields, and the tumble in stock prices that helped cause,

Continued from A1

He added that upon approval of the BI’s budget, they are planning to increase efficiency by adding more e-gates, and will replace 50 percent of their manual operations by 2026. “Departures significantly increased before Undas, and we project that arrivals will rise in the next few days after the long holiday,” Tansingco said. A total of 32,352 departures were recorded on October 31, which could rise to 35,000 daily in the coming days as the holiday season approaches. Thus, the BI said it has deployed 50 recently trained immigration officers to augment

border control operations during the holiday season. These officers, who recently completed a condensed three-week Border Control Officers' module, are stationed at key locations, including Cebu, Bohol, Caticlan, and Clark international airports. Tansingco stressed the need to augment the agency’s workforce during the holiday season as it anticipates around 4 million arrivals and 3.8 million departures in the fourth quarter of this year. “We are fully prepared for the peak season and are maximizing our manpower to better service the traveling public,” Tansingco assured the people.

are working on their own to slow the economy and could be starving high inflation of its fuel. If they can do that persistently, he indicated they could help the Fed whip inflation without requiring more rate hikes. In energy trading, benchmark US crude added $1.32

to $81.76 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gained $1.23 to $85.86 a barrel. The US dollar edged down to 150.39 Japanese yen from 150.96 yen. The euro cost $1.0609, up from $1.0570. AP

Kanamit… Continued from A1

Aside from its food, Iloilo City and the province itself are popular for heritage sites, museums, and beaches. (See, “Discovering the delights of Iloilo,” in the BusinessMirror, May 30, 2019.) Chef Pauline GorricetaBanusing, who has been promoting Ilonggo cuisine since 2006, told the BusinessMirror, “Ilonggo people are very hospitable and our language of love is food. This citation just defines who we really are as Ilonggos. Honestly, when a person visits Iloilo, they do not really say that they remember the sites, but they remember the food.”

A ‘global platform’ to showcase its food

Banusing had regularly helmed Mandarin Oriental Manila’s popular Flavors of Iloilo/Diwal-icious food festivals, which attracted not just Manila-based Ilonggos like Senator Miriam Defensor-Santiago, but other non-Ilonggos as well, making the cuisine accessible to more people. She is regularly tapped by the local government and other large groups in Iloilo to serve beloved Ilonggo dishes especially to foreign diplomats and tourists. Prior to the gastronomy designation, other Philippine cities also joined the UCCN: Baguio was recognized as a Creative City of Crafts and Folk Art, while Cebu was recognized as Creative City for Design. The UCCN was created in 2004 with the goal of “fostering international cooperation across cities of the world that invest in culture and creativity as

accelerators of sustainable development.” Other UCCN categories include film, literature, media arts, and music. Iloilo joins 55 other cities in the world, which have been recognized as cities of gastronomy, including Popayan, Colombia, the first to be designated so in 2005; Chengdu in China; Macau, SAR; Bergamo, Italy; Kuching, Malaysia; Saint Petersburg, Russia; Tsurukoka, Japan; Burgos, Spain; and Tucson, Arizona, to name a few. For his part, Rep. De Venecia described the Unesco designation as an “incredible recognition of Iloilo’s rich cultural heritage, innovative gastronomic scene, enabling ecosystem, and unwavering passion for food….[Now,] as a member of the UCCN, it has a global platform to showcase its culinary process.” According to the Unesco, among the criteria for designation as a city of gastronomy are: Vibrant gastronomy community with numerous traditional restaurants and/or chefs; Indigenous ingredients used in traditional cooking; Local knowhow, traditional culinary practices and methods of cooking that have survived industrial/technological advancement; Traditional food markets and traditional food industry; Tradition of hosting gastronomic festivals, awards, contests and other broadly-targeted means of recognition; and Respect for the environment and promotion of sustainable local products.

MB… Continued from A1

“With still higher rates for longer still expected, the Fed could still hike rates. For the Philippines, I am still keen on seeing BSP to hike rates as upside inflation risk remains,” Jonathan L. Ravelas, senior adviser at professional services firm Reyes Tacandong & Co., told BusinessMirror. Monetary Board Member Bruce J. Tolentino told this newspaper on Thursday that factors being closely monitored are the “developments in rice and fuel, as well as ongoing wage negotiations.” Also being considered are the base effects that could arise and have an impact on inflation not only in October but succeeding months. Tolentino said, however, recent developments are “good” and they are waiting for other data to come in. “Well there are other data that we are waiting for. Today, we now know that the Fed held their rate, so that’s good. We are waiting for the official PSA (Philippine Statistics Authority) inflation numbers,” Tolentino told BusinessMirror. “BSP’s October estimated inflation is a bit lower than the actual number for September so that is good, too. The other key numbers are developments in rice and fuel, as well as ongoing wage negotiations. There are also base effects to consider,” he added.

Oxford: Tightening to continue

Meanwhile, Oxford Economics said with US interest rates remaining high and oil prices rising, they expect monetary authorities across Asia and the Pacific region to continue monetary tightening efforts. In the Philippines, the UK-based think tank said while they were not surprised with the recent 25-basis point rate hike, the fact that the Monetary Board decided to deliver a rate hike through an offcycle meeting was considered a surprise. “The Philippines’s central bank decision to also hike rates by a further 25bps—to 6.5 percent-was less of a surprise—inflation rose quite sharply in August and September-though the decision to hike at an ‘off-cycle’ meeting in October was,” the think tank said. The “big surprise” in October for the think tank was Bank Indonesia’s (BI) decision to hike its policy rate to 6 percent, after a 9-month gap since the previous hike and despite below-target inflation. It added that the faster core inflation in the third quarter may also spur the Reserve Bank of Australia to hike rates again. “In general, our hopes of quite a few APAC central banks looking to ease monetary policy to support growth are being thwarted, at least for the time being, by high US rates, a strengthening US dollar and high oil prices,” Oxford Economics said. Cai U. Ordinario

Friday, November 3, 2023

www.businessmirror.com.ph • Editor: Vittorio V. Vitug

Some cemeteries ‘generally PHL to China: Get out of Bajo de Masinloc clean’ after Undas–group By Malou Talosig-Bartolome

By Jonathan L. Mayuga @jonlmayuga

OME cemeteries were “generally clean” after the annual ritual of paying homage to the dead, a local waste and pollution watchdog said, and credited this to the deployment of more waste and sanitation workers, implementation of the “no vendors” policy, provision of garbage bins and installation of visible anti-littering signages. Compared to last year’s observance of All Souls’ Day and All Saints’ Day, the Ecowaste Coalition observed that there’s a marked improvement in terms of the reduced volume of garbage left behind in cemeteries this year compared to last year’s volume of garbage that had to be hauled and disposed of after November 1. However, the group said there is always room for improvement and that may still be a long way to go for a waste-free “Undas.” Last year, the group decried the massive littering and lack of proper waste disposal areas in cemeteries. A total of 78 truckloads of garbage were hauled from Metro Manila cemeteries last Undas. This year, the environmental group saw improvements in terms of decreased littering and credited it to the improved waste management in some cemeteries across Luzon. A comparison of EcoWaste Coalition’s monitoring for Undas 2023 and past years revealed reduced instances of littering in cemeteries this year, which may be attributed to the various measures put in place by concerned local government units (LGU). Some LGUs deployed sanitation workers, and prohibited vendors inside cemeteries, while other LGUs provided garbage bins and installed visible anti-littering signages to remind those visiting the dead to be mindful of the environment. Another factor that could have led to the marked improvement in the way Undas is observed this year was the fact that the number of visitors is fewer compared to last year’s Undas commemoration. “This may be due to the intermittent rain and the ‘long weekend,’ which may have dispersed the number of visitors throughout the week. Some cemeteries have also limited visiting hours, instead of opening their gates for the usual 24 hours prepandemic,” the group said in a statement. Cemeteries like Cainta Public Cemetery in Rizal have installed multiple trash bins around the place, including a dedicated bin for

plastic bottles. Navotas Public Cemetery required vendors within their premises to have their trash bags and also deployed members of their “Brigada ng Kalikasan,” resulting in a generally litter-free environment. Found to be generally clean at the time of monitoring were Himlayang Palanyag and Loyola Memorial Park in Parañaque, Pasay City Cemetery and the Roman Catholic Cemetery in Pasay City; the Garden of Life, Mandaluyong City Cemetery, and the Roman Catholic Cemetery of San Felipe Neri in Mandaluyong City; San Juan City Cemetery and St. John Memorial Park in San Juan City; Pasig Catholic Cemetery in Pasig City; Sta. Martha Catholic Cemetery and the Garden of Memories Memorial Park in the municipality of Pateros; St. Anne Catholic Cemetery in Taguig City; Tugatog Public Cemetery in Malabon City; and Pyramid Memorial Park in Benguet. On the other hand, the waste bins at the Manila Memorial Park in Parañaque were found overflowing with unsegregated trash. The same problem was observed in the Sangandaan Cemetery in Caloocan City; Bagbag Public Cemetery in Quezon City; Manila South Cemetery in Makati City; Buyagan Public Cemetery in Benguet; and The Good Shepherd Memorial Park in Pampanga. Meanwhile, trash bins installed in Hagonoy Public Cemetery in Bulacan were little to none, with visitors littering and discarding their trash in random areas around the cemetery. Among the items found scattered on the ground or in the overflowing mixed waste bins include food and beverage containers (paper and plastic), food leftovers, plastic bottles, plastic straws, disposable utensils, pizza boxes, plastic bags, etc. The group said visitors should limit what they bring in cemeteries and for the “Basura mo, Bitbit mo” policy to be strictly enforced to avoid the problem. “Cemeteries should also be declared as ‘zero waste zones’ where all forms of littering are not allowed. Sufficient number of properly labeled bins should be installed, and an adequate number of waste and sanitation workers should also be deployed,” the group added. As segregated bins often end up as mixed waste bins, cemeteries can tap and benefit from the services of informal waste recyclers who can assist visitors with the proper segregation of discards. They can also help in retrieving recyclables in and around the cemeteries, the group said.

New barangay leaders urged to play active role in village development

ITH barangay officials at the forefront of providing basic services to the people, a lawmaker on Thursday called on recently elected village officials throughout the nation to actively voice their opinions concerning crucial development initiatives. Davao City 1st Rep. Paolo Duterte, in a statement, noted the importance of ensuring that these projects align with the essential needs of their respective communities. With barangay officials serving as the primary providers of fundamental services to the people, Duterte said they are in the best position to determine the projects and programs that will have a positive impact on the lives of their constituents. Thus, their recommendations should be strongly considered in the implementation of government projects, he noted. “First of all, I congratulate our country’s newly elected barangay officials. With your fresh mandate, you can become instruments of meaningful change in the barangays that you are tasked to serve,” said Duterte. “Development projects recommended and initiated by barangay officials ensure that good governance is felt by the people at the grassroots level. The voices of our barangay officials should be heard, as they play a key role in being catalysts of development in their respective areas of jurisdiction,” he added. Duterte recalled that when he was vice mayor of Davao City, he established a consultative forum—the Pulong Pulong ni Pulong (PPP)—to encourage barangay officials to be more involved in delivering the needs of their constituents and

in lobbying for priority projects in their respective communities. This strategy of involving barangays in the planning and implementation of development projects is among the most effective means of combating poverty at the grassroots level, especially in underserved and far-flung communities beyond the immediate reach of the national government, Duterte said. Duterte added he has been pushing for the nationwide implementation of this barangay-driven or community-driven approach to development through House Bill (HB) 500 that he filed last year. HB 500 is derived from the Kapit-Bisig Laban sa Kahirapan-Comprehensive and Integrated Delivery of Social Services (KALAHI-CIDSS) program of the Department of Social Welfare and Development (DSWD), which has pioneered and sustained this World Bank-assisted initiative in selected poor municipalities in the country. To institutionalize the communitydriven development (CDD) strategy, the bill mandates that not only the DSWD, but also other national government agencies and local government units (LGU) adopt this approach in their community-based programs. Duterte has also filed other measures meant to recognize the efforts of barangay officials and workers as first responders in governance. These include HB 502, which seeks to provide barangay officials with fixed salaries and other benefits, and HB 6557, which aim to provide a magna carta of barangay health workers.

Jovee Marie N. Dela Cruz

A NIL A ha s rebu f fed the assertion of Beijing that the Philippine Navy “trespassed” into Bajo de Masinloc (international name: Scarborough Shoal) last October 30. “It is China that is intruding into Philippine waters,” the Department of Foreign Affairs (DFA) said in a strongly worded statement. “The Philippines has consistently demanded that Chinese vessels in Bajo de Masinloc leave the area immediately,” it added. China currently has effective control of Bajo de Masinloc, or Panatag Shoal, located 124 nautical miles from Zambales. This is the first time the DFA

fired such a strongly worded statement on Bajo de Masinloc since President Ferdinand R. Marcos Jr. took office. The DFA said the United Nations Arbitration Tribunal has already ruled in 2016 that China’s claim over the entire South China Sea has no legal basis. Thus, China cannot claim the shoal to be part of its territory. Under the UN Convention on the Law of the Sea (UNCLOS), Bajo de Masinloc forms part of the Philippine Exclusive Economic Zone (EEZ). The DFA also asserted that the shoal is an “integral part of the Philippine territory over which the Philippines has sovereignty and jurisdiction.” The Southern Theater Com-

mand of the Chinese People’s Liberation Army had earlier complained that the Philippine corvette BRP Conrado Yap (PS39) “trespassed” near the shoal on October 30. DFA spokesperson Ma. Teresita Daza said China “has no legal basis” in asserting such claims and “only serves to raise tensions in the West Philippine Sea.” “The Philippines’ conduct of maritime patrols in the waters around Bajo de Masinloc is a legitimate and routine act of a sovereign country in its territory and territorial sea and is part of the Philippines’ administrative responsibility. There is no obligation for the Philippines as the sovereign state to seek the approval of another when navigating

AFP chief says BSKE successful

ESPITE some untoward incidents, the Armed Forces of the Philippines (AFP) announced that the just-concluded Barangay and Sangguniang Kabataan Elections (BSKE) proved to be a success as Filipinos were able to cast their votes for their desired community leaders last Monday, October 30. “The BSKE is generally peaceful.

No threat group was able to cause any disruption in the voting process and the several election-related incidents reported weren’t able to prevent our citizens from exercising their right to vote for their preferred barangay officials and youth leaders,” AFP chief Gen. Romeo Brawner Jr. said in a statement late Wednesday. He attributed this feat to the good

preparations and coordination between the agencies tasked to implement and secure this year’s BSKE. “We came in prepared and fulfilled our task. We thank the Comelec [Commission on Elections], Philippine National Police, Philippine Coast Guard, and the Department of Education for this partnership that allowed us to attain our goal of a secured, free and orderly

its own territorial sea,” the DFA official said. The DFA insisted that the presence of Chinese Navy, Coast Guard and militia in Bajo De Masinloc and their “apparent exercise of maritime law enforcement powers” were actually “violations of international law, particularly UNCLOS and the Arbitral Award.” Chinese activities “infringes upon the Philippine sovereignty, sovereign r ights and jur isdiction” with their alleged harassment of Philippine naval and Coast Guard vessels and intimidation of Filipino fisherfolk. Sought for comment, the Chinese Embassy in Manila said they noted the request and would revert when appropriate.

conduct of election,” Brawner said. He added that the AFP remains resolute in its mission of protecting the Filipino people and securing the country from all kinds of threats, man-made or natural. “We will also sustain our gains in the internal security operations in order to achieve complete victory against the communist and local terrorist groups as we face the challenges in the conduct of territorial defense operations,” Brawner added. Rex Anthony Naval

Editor: Vittorio V. Vitug • www.businessmirror.com.ph

Friday, November 3, 2023

Neda chief says govt remains firm on goal to cut poverty to 9% by ’28 I

Govt allots additional ₧15.8B for school feeding programs

By Jovee Marie N. Dela Cruz @joveemarie

HE government remains steadfast in its commitment to significantly reduce poverty among Filipinos to a mere 9 percent by the time President Ferdinand R. Marcos Jr. concludes his term in 2028, the National Economic and Development Authority (Neda) said on Thursday. In a statement posted by the Palace, Neda Secretary Arsenio Balisacan said the administration is prioritizing a multipronged approach and a whole-of-society strategy to tackle poverty. Earlier, the Social Weather Stations’ (SWS) self-rated poverty survey showed almost half of Filipino families consider themselves living in poverty. “We note that the SWS September survey was conducted after a series of typhoons hit the country, which also affected food prices and directly impacted families who lacked the means to cope with the increase in prices,” Balisacan said. “As we noted earlier, poverty measures based on respondents’ perceptions are sensitive to inflation, particularly for essential commodities. Food inflation in September was higher than in June this year due to the supply disruptions,” he added. To address the immediate needs of those affected, Balisacan said the government has put in motion a range of short-term measures. He added that these measures include the launch of a food stamp program, elimination of pass-through

fees for vehicles transporting goods, and the distribution of cash aid through the Rice Farmers Financial Assistance program, with a specific focus on the most economically disadvantaged individuals. He added that the administration is focusing on policies and programs geared toward generating more high-quality jobs, recognizing this as the most robust and effective means of reducing poverty. “This will involve expanding our markets, improving our infrastructure, and attracting more strategic investments, while also preparing the workforce with the necessary skills for the jobs that will be created,” Balisacan said. He said the Marcos administration is also implementing measures to expedite these endeavors, such as the ratification of the Regional Comprehensive Economic Partnership, the establishment of streamlined project approval procedures, the creation of green lanes for strategic investments, and various other initiatives aimed at modernizing agriculture, enhancing productivity, and bolstering market linkages. “Given these strategies and our whole-of-society approach, we are optimistic that we can still reduce poverty incidence among Filipinos to 9 percent by 2028,” Balisacan said.

PBBM instruction

EVEN before the recent SWS survey on hunger and poverty, President Ferdinand R. Marcos Jr. had already instructed the Department of Social Welfare and Development (DSWD) to come up with

innovative programs to combat and end hunger and poverty in the country, DSWD Secretary Rex Gatchalian, for his part, said. According to Gatchalian, the instruction to the DSWD is hinged on the President’s desire to end hunger and make a more inclusive country where no one is left behind. “This is the reason why the DSWD came up with the Food Stamp Program [FSP], which was designed primarily to alleviate the lingering incidence of food poverty and malnutrition among low-income Filipino households through the provision of meal augmentation worth P3,000 on a monthly basis,” Gatchalian explained. The FSP is currently in its pilot run, and the scale-up of the program is slated for mid-2024. The FSP will benefit a total of 1 million families who are classified as “food poor” in accordance to the criteria and definitions set by the Philippine Statistics Authority (PSA), along with pregnant and nursing mothers. The pilot areas include Tondo, Manila, and the regions of Cagayan Valley, Bicol, Caraga, and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The President, Gatchalian, added has already approved the regular budget of the FSP for 2024 to ensure that 1 million “food poor” families will continue to benefit under the FSP’s meal augmentation program. “There is also the Pantawid Pamilyang Pilipino Program, or 4Ps, wherein 4.4 million ‘poorest of the poor’ households or 20

DENR order mandates CENROs to build storage facility for seized forest products By Jonathan L. Mayuga @jonlmayuga

ECRETARY Maria Antonia Yulo-Loyzaga of the Department of Environment and Natural Resources (DENR) has ordered community environment and natural resources officers (CENROs) to put up storage facilities for seized forest products. This as the country’s chief steward of the environment and natural resources directed CENROs nationwide to ensure proper handling and safekeeping of seized forest products that cannot be disposed of because of an ongoing case, particularly seized logs and other timber products. The DENR is mandated to keep these seized forest products safe pending the final resolution of the case by courts of law. Lack of proper storage facilities was observed to be a problem as some cases take years before

being resolved with finality. In some cases, the seized forest products are already degraded or damaged. DENR Administrative Order No. 2023- 02 also spelled out guidelines for the establishment of the structures. A detailed cost and standard materials for storage facilities indicate that the total project cost of such facilities should not exceed the amount of P2 million. For safety purposes, storage facilities should be constructed in areas safe from natural hazards, such as floods or landslides. For security measures, the storage facilities must also have a security guard or at least a closed-circuit television camera. There are a total of 147 CENROs across the country. A lso covered by the order are the DENR-National Capital Region (NCR) Office and 17 of the 79 Provincial Environment

and Natural Resources Offices (PENRO) that are also functioning as CENROs or “Implementing PENROs.” “The CENROs and Implementing PENROs, or the Regional Office in the case of the [NCR] shall identify sites that are adjacent to their offices or within their area of jurisdiction for the construction of the storage facilities,” YuloLoyzaga ordered, stressing that the facilities “shall be established w ithin public or patr imonia l land,” stated the order posted on the website of the DENR’s Forest Management Bureau (FMB). Turned over logs covered by DENR-issued tree-cutting permits for development activities, including trees that have to be cut down because of road widening projects of the Department of Public Works and Highways (DPWH), were likewise included in the order. In addition, DENR regional

Economist sees further unemployment decline amid holiday season demand

HE country’s unemployment rate will likely continue to go down in the remaining months of the year as the demand for the Christmas season will help create more employment, an economist said on Thursday. “Unemployment rate is expected to seasonally ease further towards the Christmas holiday season [as] the seasonal increase in spending, demand, sales would temporarily require the hiring of more workers,”

Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort told the Philippine News Agency in a Viber message. Ricafort said unemployment rate could further go down to 4 percent or even lower from the 4.4 percent in August this year. He added that restaurants, caterers, those in travel and tourism and other service businesses and industries are expected to hire additional workers due to the ex-

pected increase in demand during the holiday season. “This has been a unique pattern seen for many years,” he said. According to Ricafort, the lifting of Covid-19 restrictions is a big contributor to the projected decline in unemployment. “[T he unemploy ment rate] could even be lower than the 4.2 percent immediate low posted in December last year and [could be] among the lowest since revised

million individuals continue to benefit from the program through the monthly subsidy for their children’s education as well as the monthly health subsidy,” the DSWD chief pointed out. Gatchalian said the 4.4 million families benefiting from the 4Ps plus the 1 million “food-poor” families under the FSP are expected to push down further the number of poor families in the coming months. “This target of bringing down the number of people rating themselves as ‘poor’ is based on the positive note in the SWS survey showing that 25 percent of families rating themselves as ‘hindi mahirap’ or ‘not poor’ is a threepoint increase from the June numbers,” the DSWD chief said. The latest SWS survey showed that nearly half, or 48 percent, of Filipino families rated themselves as poor during the third quarter of the year. Conducted from September 28 to October 1, the SWS sur vey estimates that around 13.2 million families consider themselves poor— —higher than the 12.5 million estimated in June 2023. The DSWD envisions all Filipinos to be free from hunger and poverty, to have equal access to opportunities, and to be enabled by a fair, just, and peaceful society. “This DSWD vision is coupled with the mission to lead in the formulation, implementation, and coordination of social welfare and development policies and programs for and with the poor, vulnerable, and disadvantaged,” Gatchalian said.

offices are now tasked to maintain an online database system for proper accounting of the seized forest products. The online database system will serve as a platform for the consolidation of the completion of construction reports of the storage facilities, including the quarterly status report and quarterly inventory items reports submitted by the CENROS, implementing PENROs and enforcement division of the DENR-National Capital Region. The items to be cited in the quarterly reports are the current condition of the storage facilities, a complete list of all turned-over logs, seized illegal forest products, estimated market value of the stored items, and the date and mode of disposition. The quarterly report shall also include a complete list of the machinery, equipment tools, implements, and conveyances stored in the storage facilities. In 2021, the Commission on Audit (COA) flagged the DENR’s manner of handling its seized forest products, and noted the lack of storage of facility at the DENR central office. records started in 2005,” he said. Ricafort said, however, that there could be some slight pick up in the unemployment rate after the seasonal increase for temporary employment opportunities during the holiday spending rush. “[This] will be offset though by the fact that there would be more working days and fewer holidays upon crossing the New Year,” said Ricafort. The Philippine Statistics Authority will release on Wednesday, November 8, 2023, the official September labor force data. As of end-August, the number of unemployed Filipinos was estimated at 2.21 million. PNA

N observance of National Children’s Month, a lawmaker said on Thursday that the government has allocated an additional P15.8 billion to combat child hunger through school and daycare feeding initiatives. This crucial step comes as escalating food prices continue to push more impoverished families into dire circumstances, as revealed by Makati City Rep. Luis Campos Jr., the vice chairperson of the House Committee on Appropriations. “We are counting on feeding programs to help alleviate child hunger, improve the nutrition of learners from food-insecure households, and prevent pupils-atrisk from dropping out of school,” Campos said. “Many low-income families are getting distressed by the lack of food on the table, and children are bearing the brunt of the scarcity,” Campos said in a statement at the start of National Children’s Month. November of every year is National Children’s Month, which marks the anniversary of the 1989 adoption of the Convention on the Rights of the Child by the United Nations General Assembly. Campos pointed out that the allocation for the School-Based Feeding Program (SBFP) under the Department of Education (DepEd)

has been elevated to P11.7 billion in the 2024 national budget. Additionally, he said an allocation of P4.1 billion has been designated for the Supplementary Feeding Program (SFP) managed by the Department of Social Welfare and Development (DSWD). “ T he combined P15.8 billion provision for the SBFP and the SFP next year is P5 billion [or 46 percent] greater than the P10.8 billion that the two feeding programs are getting this year,” Campos added. Under the SBFP, nutritionally balanced meals and food products are anticipated to be provided for 220 days, along with milk for 55 days, specifically targeting “severely wasted and wasted” children from Kinder to Grade 6. Wasted children are those who are underweight for their age. Meanwhile, the SFP is expected to supply fortified meals to 2 million preschoolers in public daycares sponsored by local government units and in supervised neighborhood play groups. Some 10.4 percent of Filipino families experienced involuntary hunger—or being hungry and not having anything to eat—at least once in the second quarter of 2023, according to a previous survey by the Social Weather Stations. Jovee Marie N. Dela Cruz

Go assists LU micro-entreps, pushes more livelihood opportunities for poor Pinoys

ENATOR Christopher “Bong” Go is advocating for enhanced government measures to generate additional employment prospects for impoverished Filipinos rebounding from multiple crises. Go’s team on Thursday, October 26, extended assistance to 54 micro-entrepreneurs at the Bangar municipal covered court in Bangar, La Union. Each beneficiary received masks and snacks, while select recipients were given pairs of shoes, shirts, and balls for basketball and volleyball. Aside from Go’s assistance, a team from the Department of Trade and Industry (DTI) provided negosyo kits to qualified beneficiaries through a livelihood program that Go earlier advocated for and continues to support to help more affected communities recover from calamities and other crises. Go also conveyed his hopeful outlook for the economy’s resurgence, and cited the government’s commitment to creating additional livelihood opportunities, particularly for the disadvantaged sector. “Alam ko pong napakahirap ng panahon ngayon at marami pang nawalan ng trabaho pero huwag po kayong mawalan ng pag-asa dahil ginagawa po ng gobyerno ang lahat upang kayo po ay matulungan at makaahon muli,” assured Go. Go is one of the authors and co-sponsors of Republic Act No. 11960 or the One Town, One Product (OTOP) Philippines Act. The law shall assist and capacitate micro, small and medium enterprises (MSMEs) in developing new, innovative, and more complex products and services through significant improvement in the areas of quality, product development, design, packaging, standards compliance, marketability, production capability, brand development, sustainability, and securing licenses, product registration and other market authorization, among others.

Malasakit Centers

GO, chairperson of the Senate Committee on Health and Demography, said he remains dedicated to enhancing the country’s health sector. He then advised the public to take advantage of the medical assistance programs offered at Malasakit Centers, including one located in Ilocos Training and Regional Medical Center (ITRMC) in San Fernando City, La Union. A brainchild of Go, the Malasakit Centers program was institutionalized through the Malasakit Centers Act of 2019, which he principally sponsored and authored in the Senate to help indigent patients with their medical expenses in public hospitals. To date, there are 159 operational centers that have successfully helped more than 7 million Filipinos nationwide.

Go was also instrumental in the passage of a law that mandated an increase in ITRMC’s capacity from 300 to 800 beds. He was also instrumental in pushing for the funding of more than 600 Super Health Centers in strategic locations nationwide as identified by the Department of Health (DOH) including four in La Union. According to Go, Super Health Centers are designed to focus on primary care, consultation, and early detection of diseases, further strengthening the health-care sector in the country, especially in rural communities. It will also help decongest hospitals. Go also shared the recent enactment into law of the Regional Specialty Centers Act. The legislation, which Go principally sponsored and is one of the authors in the Senate, aims to bring specialized medical care closer to the grassroots by establishing specialty centers in existing regional hospitals. With this, Go expressed his confidence that the government’s health services will be more accessible to Filipinos in need, especially in the grassroots. “Marami po sa mga kababayan natin sa iba’t ibang sulok ng Pilipinas ang walang sapat na health facilities na makakagamot sa kanilang mga karamdaman. Kaya importante na mailapit natin ang serbisyong medikal mula gobyerno sa mga taong nangangailangan nito,” he stressed.

LU in his mind

DURING the event, La Union Governor Raphaelle Ortega-David extended her gratitude to Go for his continuous support in the province. “Hi senator! Always thank you for keeping La Union in your heart. Maraming, maraming salamat po sa lahat na po ng programa na pinasok din n’yo ngayon. And, of course, including po ito ngayon na pinuntahan po natin personally because I wanted to show my appreciation po talaga sa pinapasok n’yo po always dito sa La Union,” the governor said. Go, vice chairperson of the Senate Committee on Finance, underscored his support for the progress of the province. In this regard, Go supported the construction and improvement of roads in Aringay, Bagulin, Burgos, Naguilan, Rosario, San Gabriel and San Fernando City. He also backed the rehabilitation and improvement of the provincial capitol; construction of a multipurpose center in Caba and San Fernando City; construction of a slope protection structure in Bacnotan; acquisition of multipurpose vehicles and rehabilitation of a multipurpose building in Balaoan; and acquisition of an ambulance and a multipurpose vehicle for the municipal government of Bangar. On October 25, Go’s team also aided microentrepreneurs from the town of Luna.

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

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Friday, November 3, 2023

Diplomatic efforts to pause fighting gain steam as Israeli ground troops push toward Gaza City By Najib Jobain & Kareem Chehayeb

The Associated Press

AFAH, Gaza Strip—Israel’s ground troops advanced toward Gaza City on Thursday, as the US and Arab countries intensified diplomatic efforts to ease the siege of the Hamas-ruled enclave and bring about at least a brief stop to the fighting to help civilians. President Joe Biden suggested a humanitarian “pause” on Wednesday, as hundreds of foreign passport holders and wounded Palestinians were allowed out of Gaza for the first time, exiting via Egypt’s Rafah crossing. US Secretary of State Antony Blinken is expected back in the region on Friday. Arab countries, including those allied with the US and at peace with Israel, have expressed mounting unease with the war. Jordan recalled its ambassador from Israel and told Israel’s envoy to remain out of the country until there’s a halt to the war and the “humanitarian catastrophe” it is causing. More than 3,600 Palestinian children have been killed in 25 days of fighting, as bombings have driven hundreds of thousands of people from their homes and food, water and fuel run low. Israeli troops pushed into Gaza in larger numbers over the weekend after three weeks of heavy airstrikes that have demolished entire neighborhoods and driven more than half the territory’s 2.3 million people out of their homes. The war, the fifth and by far deadliest in Gaza, began when Hamas launched a bloody October 7 rampage into Israel, which killed hundreds of men, women and children. Some 240 were captured. The US has pledged unwavering support for Israel as it seeks to end Hamas’ rule over Gaza and crush its military capabilities, even as the two allies seem to have no clear plan for the day after. White House officials said a pause in fighting would allow more aid to

get into Gaza and create a possibility for more hostages to be freed. The opening of Rafah came after weeks of talks among Egypt, Israel, the US and Qatar, which mediates with Hamas. It was first time people left Gaza other than four hostages released by Hamas and another rescued by Israeli forces. Israeli troops meanwhile appear to be advancing on three main routes, according to the Institute for the Study of War, a US research group. One thrust came from Gaza’s northeast corner. Another, south of Gaza City, cut across the territory, reaching the main north-south highway. The third, from Gaza’s northwest corner, has moved about 5 kilometers (3 miles) down the Mediterranean coast, reaching the outskirts of the Shati and Jabaliya refugee camps, on the edges of Gaza City. Airstrikes on Wednesday and Thursday destroyed apartment blocks in Jabaliya, but the number of dead and wounded remained unknown. Israel said the strikes killed militants and demolished Hamas tunnels. Palestinian militants fired antitank missiles, set off explosive devices and hurled grenades at Israeli troops during an overnight battle, the Israeli military said Thursday. It said soldiers returned fire and called in artillery, as well as strikes from a helicopter and a naval ship. The report could not be independently confirmed. Hundreds of thousands of Palestinians remain in the path of the fighting in northern Gaza, despite Israel’s repeated calls for

Israel criticizes South American countries that cut diplomatic ties and recall envoys By Daniel Politi

The Associated Press

UENOS AIRES, Argentina—Israel criticized Bolivia, Chile and Colombia on Wednesday after the South American countries undertook a series of diplomatic moves to protest Israel’s military operations against Hamas in Gaza. Other Latin American countries, including Argentina and Brazil, have also increased their criticism of the impact that Israel’s military operations are having on civilians. Israel on Wednesday called on Colombia and Chile to “explicitly condemn the Hamas terrorist organization, which slaughtered and abducted babies, children, women and the elderly,” according to a statement by the Ministry of Foreign Affairs. The call came hours after Chile and Colombia both recalled their ambassadors to Israel on Tuesday evening amid criticism of the killing of civilians in Gaza. “Israel expects Colombia and Chile to support the right of a democratic country to protect its citizens, and to call for the immediate release of all the abductees, and not align themselves with Venezuela and Iran in support of Hamas terrorism,” Israel’s Foreign Ministry said. Although the statement from Chile’s Foreign Ministry regarding the recall of its ambassador did not mention Hamas, President Gabriel Boric did mention Hamas in a separate statement on X, formerly Twitter, in which he said “innocent civilians” were the “main victims of Israel’s offensive.” Chile “doesn’t doubt in condemning the attacks and kidnappings perpetrated by Hamas,” Boric wrote. “Humanity cannot sustain itself through ties that dehumanize.”

Colombia’s President Gustavo Petro has been more direct as he has shared lots of messages on social media condemning Israel’s actions. “It’s called genocide; they’re doing it to remove the Palestinian people from Gaza and take it over,” Petro wrote on X. “The head of the state committing this genocide is a criminal against humanity.” Earlier, Israel had condemned Bolivia’s decision Tuesday to sever diplomatic ties with Israel, characterizing it as a “surrender to terrorism and to the Ayatollah’s regime in Iran.” Although Sunni, Hamas has grown increasingly close to the Shiite powerhouse, Iran. Cutting diplomatic ties with Israel means “the Bolivian government is aligning itself with the Hamas terrorist organization,” Israel’s Foreign Ministry said. Bolivia had previously severed diplomatic ties with Israel in 2009 only to resume them in 2020. The diplomatic moves by the three South American countries, all of which are led by leftist leaders, come as others in the region have ramped up their criticism of Israel’s military activity. Argentina on Wednesday criticized Israel’s attack in the Jabaliya refugee camp and said the “humanitarian situation in Gaza is ever more alarming.” “Argentina has unequivocally condemned the terrorist attacks carried out by Hamas on Oct. 7 and recognizes Israel’s right to its legitimate defense. However, nothing justifies the violation of international humanitarian law and the obligation to protect the civilian population in armed conflicts,” Argentina’s Foreign Ministry said. The Associated Press writer Astrid Suarez contributed to this report from Bogota, Colombia.

them to evacuate the region and head to the territory’s south, which is also being bombarded. Casualties on both sides are expected to rise as Israeli troops advance toward the dense residential neighborhoods of Gaza City. Israeli officials say Hamas’ military infrastructure, including tunnels, is concentrated in the city and accuse Hamas of hiding among civilians. Rocket fire from Gaza into Israel, and daily skirmishes between Israel and Lebanon’s Hezbollah militants, has disrupted life for millions of Israelis and forced an estimated 250,000 to evacuate towns near the borders in the north and south. Most rockets are intercepted or fall in open areas. More than 8,800 Palestinians have been killed in the war, mostly women and minors, and more than 22,000 people have been wounded, the Gaza Health Ministry said Wednesday, without providing a breakdown between civilians and fighters. The figure is without

precedent in decades of IsraeliPalestinian violence. Over 1,400 people have died on the Israeli side, mainly civilians killed during Hamas’ initial attack, also an unprecedented figure. Sixteen Israeli soldiers have been killed in Gaza since the start of the ground operation. At least 335 foreign passport holders left Gaza through the Rafah crossing into Egypt on Wednesday, said Wael Abu Omar, a spokesman for the Palestinian Crossings Authority. Seventy-six Palestinian patients, along with their companions, were evacuated for treatment in Egypt, he said. The US has said it is trying to evacuate 400 Americans with their families. Egypt has said it will not accept an influx of Palestinian refugees, fearing Israel will not allow them to return to Gaza after the war. Those remaining in Gaza face an increasingly dire humanitarian situation, with basic supplies running low and hundreds of thousands

packed into hospitals and UN-run shelters. Israel has allowed more than 260 trucks carrying food and medicine to enter from Egypt, but aid workers say it’s not nearly enough. Hospitals in Gaza say their emergency generators are running dangerously low on fuel amid a territory-wide blackout. The World Health Organization said the lack of fuel puts at risk 1,000 patients on kidney dialysis, 130 premature babies in incubators, as well as cancer patients and patients on ventilators. Israel has refused to allow fuel in, saying it fears Hamas would steal it for military purposes. The military released a recording of what it said was a Hamas commander forcing a hospital to hand over some fuel. The recording could not be independently verified. Only hours of electricity remained at Gaza City’s largest hospital, Shifa, according to its director, Mohammed Abu Salmia, who pleaded for “whoever has a liter of

diesel in his home” to donate it. The Turkish-Palestinian Hospital, Gaza’s only facility offering specialized treatment for cancer patients, was forced to shut down Wednesday because of lack of fuel, leaving 70 cancer patients in a critical situation, the Health Ministry said. The Indonesian Hospital in northern Gaza, where many of those wounded in the Jabaliya strikes were being treated, was forced to turn off most lights and its mortuary refrigerators. “These exceptional measures will allow the Indonesian Hospital to work for a few more days,” Health Ministry spokesman Ashraf al-Qudra said. “However, if we cannot secure electricity or fuel then we will face a disaster.” Chehayeb reported from Beirut. A ssociated Press writers Wafaa Shurafa in Deir al-Balah, Gaza Strip, and Amy Teibel in Jerusalem, contributed to this report.

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Republic of the Philippines

DEPARTMENT OF LABOR AND EMPLOYMENT

Regional Office No. IV-A 4th Flr. Andenson Bldg. II, Brgy. Parian, Calamba City Telefax No.: (049) 545-7362

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

November 3, 2023

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

NO.

ESTABLISHMENT

DREAM ESCAPADE TRAVEL AND TOURS INC. #100, E. Gonzales Street, Barangay I, (Pob.), Silang, Cavite

QUALIFICATION AND SALARY RANGE

ZHAO, LUHUA

Basic Qualification:

Marketing Officer- Mandarin Speaking

Must have 6 months experience as marketing officer and able to speak Mandarin language

Brief Job Description: Support the marketing manager in overseeing the department operation

IRON WORKS NORTH BEARD PHIL. INC. Block 5, Lot 4, Phase 3, Lima Technology Center, Santiago, Malvar, Batangas

Chinese Customer Service

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description:

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

DAO THI HOAI

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description: Manage incoming calls and customer service inquiries

Php30,000 Php59,999

Basic Qualification:

Corporate Adviser

Brief Job Description:

Must have Bachelor’s degree in Business, Social Science or Engineering

Evaluate, improve and identify opportunities for future business development and expansion

Salary Range:

Salary Range: Php30,000 Php59,999

Salary Range:

UENO, HIDEO

Salary Range: Php30,000 Php59,999

11 2

Basic Qualification:

Manage incoming calls and customer service inquiries

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

NAME OF FOREIGN NATIONAL, POSITION AND BRIEF DESCRIPTION

BUI VAN NGO

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

DICH CHOI XUAN

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range: Php30,000 Php59,999

Php30,000 Php59,999

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

WAR WAR WIN

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Brief Job Description: Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Basic Qualification:

Burmese Customer Service Representative

Able to speak, read and write Chinese and Burmese language

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Cambodian Customer Service

Able to speak, read and write Chinese and Cambodian language

Salary Range:

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese and Vietnamese language

Manage incoming calls and customer service inquiries

Salary Range:

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description:

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese and Vietnamese language

Brief Job Description: Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

WANG, FUDE

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Chinese Customer Service

Able to speak, read and write Chinese and Vietnamese language

Manage incoming calls and customer service inquiries

Basic Qualification:

Chinese Customer Service

Able to speak, read and write Chinese and Vietnamese language

Manage incoming calls and customer service inquiries

Salary Range: Php30,000 Php59,999

Salary Range:

DAM VAN SANG

Brief Job Description:

Salary Range: Php30,000 Php59,999

Brief Job Description:

Salary Range:

LE VAN CHINH

Basic Qualification:

Php30,000 Php59,999

MOA CLOUDZONE CORP.

HOANG VAN DIEN

CHU VAN BINH

Manage incoming calls and customer service inquiries

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

Php30,000 Php59,999

Salary Range:

Php30,000 Php59,999

BUI THI OANH

Brief Job Description:

Manage incoming calls and customer service inquiries

Php30,000 Php59,999

MOA CLOUDZONE CORP.

Php30,000 Php59,999

Basic Qualification:

Manage incoming calls and customer service inquiries

Able to speak, read and write Chinese and Vietnamese language

Php30,000 Php59,999

Salary Range:

KHIM, SOKNY

Brief Job Description:

Chinese Customer Service

Php30,000 Php59,999

Brief Job Description:

Basic Qualification:

Manage incoming calls and customer service inquiries

Salary Range:

ZAW KWIN HTWE

Manage incoming calls and customer service inquiries

HOANG THI DIEN

Salary Range: Php30,000 Php59,999

MOA CLOUDZONE CORP. Island Cove II, Covelandia Road, Pulvorista, Kawit, Cavite

WANG, HAO

Basic Qualification:

Chinese Customer Service Representative

Able to speak, read and write Chinese language

Brief Job Description: Manage incoming calls and customer service inquiries

Salary Range: Php30,000 Php59,999

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www.businessmirror.com.ph

Friday, November 3, 2023

Opposition mounts in Arab countries that normalized relations with Israel By Sam Metz

The Associated Press

A B AT, Morocco — A rab nations that have normalized or are considering improving relations with Israel are coming under growing public pressure to cut those ties because of Israel’s war with Hamas. Tens of thousands of people have taken to the streets of Rabat and other Moroccan cities in support of the Palestinians. In Bahrain—a country that almost never a l lows protest—police stood by as hundreds of people marched last month, wav ing flags and gathering in front of the Israeli Embassy in Manama. The demonstrations, which mirror protests across the Middle East, present an uncomfortable dilemma for governments that have enjoyed the benefits of closer military and economic ties with Israel in recent years. In Egypt, which has had ties with Israel for decades, protesters rallied in cities and at universities, at times chanting “Death to Israel.” A parliamentary committee in Tunisia last week advanced a draft law that would criminalize normalization with Israel. In Morocco and Bahrain, the public anger has an additional dimension; activists are demanding the reversal of agreements that formalize ties with Israel, underscoring discord between the governments and public opinion. The US-brokered Abraham A c cord s , a i me d at w i n n i n g broader recognition of Israel in the Arab world, paved the way for trade deals and military cooperation with Bahrain, Morocco, Sudan and the United Arab Emirates starting in 2020. Their autocratic rulers—as well as American and Israeli officials— continue to frame the deals as a step toward a “new Middle East “ in which closer ties could foster peace and prosperity. The accords marked a major diplomatic victory for Morocco because they led the US—and eventually Israel—to recognize its autonomy over the disputed Western Sahara. Morocco’s Foreign Ministry did not respond to questions about the agreement or protests.

The accords also led Washington to remove Sudan from its list of state sponsors of terrorism, presenting a lifeline for the ruling military junta fighting a pro-democracy movement and spiraling inflation. Large protests against the Israel-Hamas war have not erupted in Sudan or the United Arab Emirates. A highly sought-after agreement between Israel and Saudi Arabia has become less likely due to the war and regionwide protests, Steven Cook, a senior fellow for Middle East and Africa Studies at the Council on Foreign Relations, told The Associated Press in October. “I think this dynamic of normalization will likely slow down or come to a halt, at least for a period of time,” Cook said. Opponents of normalization say the protests make clear the governmental wins that resulted from the accords did little to move public opinion. “Hamas isn’t terrorists. It’s resistance to colonization. Imagine someone enters your house. How would you behave? Smile or make them leave by force?” said Abouchitae Moussaif, the national secretary of Morocco’s Al Adl Wal Ihsane, a banned but tolerated Islamist association that has long supported the Palestinian cause. The group, which rejects King Mohammed VI’s dual authority as head of state and religion, organizes throughout Morocco, where undermining the monarchy is illegal. Morocco has not always been so lenient with opponents of normalization. Before the war, authorities broke up protests and sit-ins outside Parliament and a judge in Casablanca sentenced a man to five years in prison for undermining the monarchy because he criticized normalization. Now, law enforcement personnel mostly stand aside as the large daily protests take place. “Normalization is a project of the state, not the people,” Moussaif said. “The protests touched on a project of the government, more specifically a project of the King.” Zakaria Aboudahab, a professor of International Relations at

University Mohammed V in Rabat, said the protests likely won’t lead to Morocco overturning normalization but that allowing them works as a “safety valve” to temper public outrage. “The Moroccan state knows very well that when popular anger reaches such proportions and people express injustice and so on, it has to listen to the people,” he said. Ba hra i n h ad ba nned pro tests since the 2011 uprisings, when thousands poured into the streets emboldened by prodemocracy protests in Egypt, Syria, Tunisia and Yemen. But in recent weeks, demonstrations have been allowed again. “Now people are taking some risks to be in the street and participate,” said Jawad Fairooz, a former leader of Bahrain’s outlawed Al Wefaq Party who lives in exile in London. “Governments want to give some relief to people’s anger by allowing them to get together.” As the war intensified, Arab leaders moved from condemning violence and calling for peace to more pointed criticism of Israel’s attacks in Gaza. The United Arab Emirates Foreign Ministry initially called Hamas’ October 7 raid in southern Israel a “serious and grave escalation,” and its finance minister told reporters the country does not mix trade with politics. After Israel struck Gaza’s Jabaliya refugee camp on Tuesday, the UAE warned that “ indiscriminate attacks will result in irreparable ramifications in the region.” Morocco’s Foreign Ministry initially said it “condemns attacks against civilians wherever they may be.” But it later blamed Israel for the escalation of violence—including an explosion at a hospital in Gaza City—and highlighted its humanitarian aid efforts in Gaza. In a statement last week, Morocco called its delivery of food, medical supplies and water part of the king’s commitment to the Palestinian cause. T he A s soc iated P res s wr iter Jon Gambrell cont r ibuted f rom Jer usalem.

North Korea has likely sent missiles as well as ammunition and shells to Russia–Seoul By Hyung-Jin Kim The Associated Press

EOUL, South Korea—North Korea has likely supplied several types of missiles to Russia to support its war in Ukraine, along with its widely reported shipments of ammunition and shells, South Korea’s military said Thursday. The assessment was released a day after South Korea’s spy service told lawmakers that North Korea recently provided more than a million artillery shells to Russia amid deepening military cooperation between the two countries, both key US adversaries. In a background briefing for local journalists, South Korea’s military said that North Korea is suspected of sending an unspecified number of short-range ballistic missiles, anti-tank missiles and portable anti-air missiles to Russia, in addition to rifles, rocket launchers, mortars and shells. The contents of the briefing were shared with The Associated Press. Last week, South Korea, the US and Japan strongly condemned

what they call North Korea’s supply of munitions and military equipment to Russia, saying that such weapons shipments sharply increase the human toll of Russia’s war in Ukraine. Any weapons trade with North Korea would be a violation of multiple U.N. Security Council resolutions, which Russia, a permanent U.N. Security Council member, previously endorsed. Both Russia and North Korea dismissed the weapons shipment accusations as baseless. Outside speculation about North Korean arms shipments flared after North Korean leader Kim Jong Un traveled to Russia in September to meet President Vladimir Putin and visit key military facilities. The US and its allies accuse North Korea of seeking high-tech Russian technologies to modernize its arsenal of nuclear weapons and missiles in return for its shipments of conventional arms. In a private briefing with lawmakers on Wednesday, the National Intelligence Service— South Korea’s main spy agency— said that more than a million North Korean artillery shells

have been sent to Russia since August via ships and transport planes. The NIS said the shells roughly amounted to two months’ worth of supplies for the Russians, according to lawmaker Yoo Sang-bum, who attended the NIS briefing. The NIS assessed that North Korea has been operating its munitions factories at full capacity to meet Russian munition demands and has also been mobilizing residents to increase production. The NIS said North Korea, for its part, is likely receiving Russian technological assistance over its plan to launch its first military spy satellite into space. North Korea’s two recent attempts to launch a spy satellite ended in failure due to technical issues. The North failed to follow through with its vow to make a third launch attempt in October, without giving any reasons. South Korea’s military said North Korea also seeks to receive nuclear-related technologies, fighter jets or related aircraft equipment and assistance on the establishment of anti-air defense networks from Russia.

Friday, November 3, 2023

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Friday, November 3, 2023

A10 Friday, November 3, 2023 • Editor: Angel R. Calso

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‘We must not write off this conflict as too far gone’

ordan’s King Abdullah II delivered an urgent message at the recent Cairo Summit for Peace: “The only path to a safe and secure future for the people of the Middle East and the entire world—for the Jewish people, for Christians, for Muslims alike —starts with the belief that every human life is of equal value and it ends with two states, Palestine and Israel, sharing land and peace from the river to the sea. It is our duty as the international community to do whatever it takes to restart a meaningful political process that can take us to a just and sustainable peace on the basis of the two-state solution.”

“I am outraged and grieved by those acts of violence waged against innocent civilians in Gaza, in the West Bank, and Israel. The relentless bombing campaign underway in Gaza as we speak is cruel and unconscionable. It is collective punishment of a besieged and helpless people. It is a flagrant violation of international humanitarian law. It is a war crime,” King Abdullah said. “Yet, the deeper the crisis cuts of cruelty, the less the world seems to care. Anywhere else, attacking civilian infrastructure and deliberately starving an entire population of food, water, electricity, and basic necessities would be condemned. Accountability would be enforced, immediately, unequivocally. And it has been done before—recently, in another conflict. But not in Gaza. It’s been weeks since Israel put in place the complete siege of the Gaza Strip. And still, for the most part, global silence,” he lamented. King Abdullah added: “Yet the message the Arab world is hearing is loud and clear: Palestinian lives matter less than Israeli ones. Our lives matter less than other lives. The application of international law is optional. And human rights have boundaries—they stop at borders, they stop at races, and they stop at religions. That is a very, very dangerous message, as the consequences of continued international apathy and inaction will be catastrophic—on us all.” From The Associated Press: “Bolivia’s government severed diplomatic relations with Israel on Tuesday, accusing it of carrying out ‘crimes against humanity’ in Gaza, and Chile and Colombia recalled their ambassadors to Israel as they criticized the Israeli military offensive against Hamas militants. Bolivian officials cited the number of Palestinian casualties, but made no mention of the Hamas attack on Israel at the start of the conflict.” Chile decided to recall its ambassador to Israel “in the face of the unacceptable violations of international humanitarian law committed by Israel in the Gaza Strip,” the country’s Foreign Ministry said. Colombia’s president, Gustavo Petro, also announced he was recalling his country’s ambassador to Israel. “If Israel does not stop the massacre of the Palestinian people, we cannot remain there,” Petro wrote on X. Iran conveyed a message to Israel on October 15, emphasizing its desire to avoid further escalation in the Hamas-Israel conflict. However, Iran also made it clear that it might need to intervene if Israel’s operation in Gaza persists. More than 8,500 Palestinians have been killed in the war, mostly women and minors, the Gaza Health Ministry said Tuesday, without providing a breakdown between civilians and fighters. UNICEF Executive Director Catherine Russell said that toll includes over 3,400 children killed and more than 6,300 injured. “This means that more than 420 children are being killed or injured in Gaza each day— a number which should shake each of us to our core,” she said. On the Israeli side, more than 1,400 people have died, mainly civilians killed during the Hamas’ initial attack. It would do well for the global community to listen to King Abdullah: “We must not—we cannot—write off this conflict as too far gone, for the sake of both the Palestinians and the Israelis. Our collective and unified message to the Israeli people should be: We want a future of peace and security for you and for the Palestinians, where your children and Palestinian children should no longer live in fear.” At the United Nations, the Philippines was one of the 45 countries that abstained from voting on a Jordan-led resolution during the emergency special session of the UN General Assembly on Friday. The Philippines would have voted in favor of the UN resolution calling for a ceasefire in the Israel-Hamas war had it mentioned and condemned the October 7 Hamas attack that killed more than 1,400 people in Israel, including four Filipinos and other foreigners, the Department of Foreign Affairs said. As a DFA official explained, to allow the resolution as worded—omitting condemnation of the October 7 attacks—would be to dishonor the memory of the Filipino workers who were among the victims.

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Early voting for seniors and PWDs Sonny M. Angara

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E congratulate the Commission on Elections (Comelec) for the successful holding of the Barangay and Sangguniang Kabataan Elections. As committed by our poll body, there was no failure of election in any of the 201,786 precincts across the country. We also extend our congratulations to the winners of the BSKE. Our newly elected barangay and SK officials should make the most of their opportunity to serve their communities. SK winners should use their platforms to become conduits for change. The new law on the SK, Republic Act 11768, is intended to strengthen the SK and make it more responsive and relevant to the present times. We crafted the law with this in mind, which is why we listed down a menu of programs, projects and activities that will be more beneficial to the youth in your communities and erase the notion that the SK is nothing more than an organizer of sportsfests and pageants. There were some hiccups reported in the electoral process that should be addressed for the future elections. Among these were the complaints coming from senior citizens, who flocked to the precincts to cast their ballots, but encountered some problems along the way. Based on news

media reports, many senior citizens went to their respective precincts as early as 5 a.m. to vote but were not allowed to do so. The election officers were not to blame for this since there were no instructions about the conduct of early voting for seniors coming from the Comelec, except for two local government units: Naga and Muntinlupa City. The two LGUs were selected by the Comelec for the pilot implementation of the early voting for senior citizens and persons with disabilities (PWDs) for the 2023 BSKE. This meant that they were allowed to cast their ballots two hours before the official start of voting at 7 a.m. The seniors and PWDs who went early to the precincts outside of the two

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Seniors and PWDs will be allowed to cast their votes for a period no less than two days within 15 days before election day. Those who register for early voting will also have the option to cast their ballot via post in designated precincts. The accessible polling places would include public schools, town halls or plazas, civic centers, community centers or other similarly designated special venues or areas, preferably those designed with special features to ensure their safety and comfort. They must have sufficient disability support services located at the ground floor of designated election offices or strategic areas at every city or municipality all over the country. Public hearings have been conducted for the bill and we expect that this will be taken up in plenary soon. Earlier this year, the House of Representatives approved its version of the bill. With these developments, we are optimistic that early voting and greater accessibility for our seniors and PWDs will be in place when the mid-term election is held in 2025. Senator Sonny Angara has been in public service for 19 years—9 years as Representative of the Lone District of Aurora, and 10 as Senator. He has authored, co-authored, and sponsored more than 330 laws. He is currently serving his second term in the Senate. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara

Minimum wage noncompliance in the Philippines

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LGUs had to wait until 7 a.m. There were also reports about how some seniors and PWDs had to climb several flights of stairs to cast their votes since their precincts and ballot boxes were located on the upper floors. While emergency accessible polling places were designated by the Comelec for seniors and PWDs, this did not entirely produce positive results. For the convenience of the seniors and PWDs, the election personnel would be allowed to drop the ballots of voters at their assigned precincts provided that they sign a waiver allowing them to do so. Many of the voters found it troublesome to accomplish the waivers and a lot more refused to do so because of trust issues. These issues aside, Comelec Chairman George Garcia said the pilot implementation of the early voting scheme for vulnerable sectors was a success and that this should be replicated across the country. He said the law to institutionalize this should already be approved by Congress so that Comelec could already implement this in the 2025 election. We filed Senate Bill Number 777 at the beginning of the 19th Congress in July of 2019. Our bill will pave the way for the conduct of early voting for seniors and PWDs and the designation of precincts as accessible polling places for their exclusive use.

EAGLE WATCH

he mandatory floor wage is one of the social protection laws in the country under the Labor Code of the Philippines. The wage determination function has been devolved from the Congress of the Philippines to the Regional Tripartite Wages and Productivity Boards (RTWPBs) since 1989 by virtue of Republic Act 6727. Noncompliance with the minimum wage law is due to deliberate noncompliance, ignorance of the law, or exemption from compliance. Deliberate noncompliance and ignorance of the law constitutes a violation of the law. Violation of any law is considered a crime; therefore, noncompliance with the minimum wage law is a crime. According to the Double Indemnity Law, employers who refuse or fail to pay the minimum wage prescribed by law shall be required to pay an amount equal to “double the unpaid benefits owing to the employees” plus the criminal liabilities that go with it.

However, some enterprises can be exempted from the law. Thus, establishments can either be automatically exempted from the minimum wage or not-automatically exempted, i.e., they must apply for exemption within a specified reglementary period. The wage orders issued by the RTWPBs allow selective exemption from compliance with the minimum wage law for the following establishments, upon application within specific deadlines: 1) retail/service establishments regularly employing not more than 10 workers and 2) establishments adversely affected

Salary and wage workers comprise 62.2 percent of the entire Philippine labor force, of which 48.5 percent are private sector workers (who are covered by the minimum wage law), and only 9.2 percent are public servants who are not covered by the minimum wage law. This means that almost half of the country’s labor force is theoretically protected by the minimum wage law.

by natural calamities and/or humaninduced disasters. The wage orders in different regions can exempt establishments from complying with new wage adjustments for a maximum period of one year, if approved by the concerned RTWPB. Nevertheless, for these establishments, the exemption is only for the recently approved wage adjustment. So, the employer still must pay the previously prescribed wage rates. Moreover, firms registered as Barangay Micro Business Establishments (BMBEs), having a total asset of P3 million and below, are automatically exempted from complying with the prescribed minimum

wage rates for a period of two years, and upon renewal of their BMBE authority. BMBEs, however, are not exempted from the wage-related benefits like holiday pay, 13th month pay, and other wage-related benefits. Establishments under the informal sector are also exempted from the minimum wage law. The law of supply and demand is expected to work among the automatically exempted enterprises. Wage fixing is the mandate of the RTWPBs, but the enforcement of the law is lodged to the DOLE, which has the power to police violators of the minimum wage law. The Bureau of Working Conditions (BWC) under the DOLE reported that from January to December 2022, noncompliance to the minimum wage law hit 5.59 percent for the entire Philippines. The data came from 81,314 establishments inspected by the labor enforcement officers of the DOLE during the period. The randomly inspected establishments is about 7.52 percent of the 1,080,810 total listed establishments as of 2021 in the Philippines. There are different minimum wage rates in every region. The highest wage rates are from the National See “Eagle Watch,” A11

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Jane Walker and PR’s And when a universe goes irrefutable role in charity Tito Genova Valiente

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ublic relations, or simply PR, plays a crucial role in charity organizations especially in encouraging donations and support from the public. But given the little or zero budget that charities have for this communication process, it takes competence and mastery to make it work. The backstory of Jane Walker, MBE (Member of the Most Excellent Order of the British Empire), founder and ambassador of the Philippine Christian Foundation (now called the Purple Community Fund), serves as a masterclass on charity and publicity. In 1996, Jane was working for a media company when offered a promotion. Unsure of whether she would stay at the newspaper industry, she took a break and headed to the Philippines for what was supposed to be an R&R. Her thoughts were initially on white-sand beaches and everything you could imagine about a tropical paradise. While in Manila, she read a newspaper article about families being evicted from a squatter area. She jumped into a taxi that took her to North Harbor, where many informal settlers lived. Jane saw two little boys who had hooks and sacks treading a dirt track at Pier 18 landfill, which turned out to be the relocation site of Smoky Mountain, the infamous dumpsite that was shut down in 1995. In that landfill, she saw hundreds more children, knee-deep in the black mud, collecting recyclable waste like cans and bottles when they should be in school. It was a disturbing sight: methane gas from accumulated decaying wastes rising from the ground amid gray and bleak surrounding; rickety shanties dotting the site; and children in a mad rush when dump trucks arrived to dispose of the garbage. Jane has never seen such face of squalor before. While others would have simply turned a blind eye and walked away, she did the exact opposite. She decided to live in the landfill for a couple of months to fathom what could be done to help the people, especially the children, who were settling and making a living there. There, she got exposed to “pagpag” or left-over food from restaurants or from expired frozen items discarded by supermarkets, which the settlers scavenged from garbage bins, either to be eaten right away or cooked again. Jane was face to face with abject poverty experienced by the poorest of the poor in Manila, whom she was hell-bent on helping. Before leaving for the UK, she made a promise to the children she would return to help them escape the life of poverty they were born into. She studied international charities and why they failed in ending child labor. Says Jane: “They were just covering one aspect of poverty. They weren’t like looking at health, education, nutrition, social skills, livelihood skills for the parents. They weren’t looking at it as a whole.” Through the PCF, Jane set up a school, awarded children with attendance by giving them a kilo of rice, introduced supplemental feeding, taught parents some skills, opened a clinic in the area, and encouraged children to play sports such as football. In 2007, she was introduced to someone from Agence France Presse that dubbed her the “Angel of the Dump” in a story published in various international media outlets. She became her charity organization’s own ambassador and PR staff, with actual visits and exposure trips to the landfill as her main weapon of

After over 20 years, her charities, the Upskills+ Foundation and the Purple Community Fund (PCF), were able to build 1,757 new homes in the dump site; educated 11,000 children; sent 493 students to universities; and cooked 4.5 million hot meals. All told, PCF helped a total of 2 million individuals. choice. Journalists were intrigued by her story, and articles in the UK, the US and Europe came by leaps and bounds. I personally witnessed her work from 2007 to 2008 when we worked together in mounting the Mosman Cup in Nomad Sports Club for the benefit of the PCF—her handling of the media before, during and after the events was simply outstanding. Jane is a natural when dealing with the media. She would tour them to the landfill, let them engage with the children, introduce them to residents, and get them to photograph their conditions “as is” and without prior notice. “The publicity was really good because it attracted people. And so, it definitely generated a lot more fans for us. Editors from publications around the world contacted us, and then eventually ITN News in the UK came and visited us in 2008. That led to a lot more publicity, and the more publicity we got, the easier it was for us to raise money,” says Jane. PCF had no budget to get ambassadors to help promote its charity work in the Philippines. Apart from being the founder, CEO and principal fundraiser, she performed the duties of an ambassador for the organization. She received no professional help in the communications exercise for PCF. There were no organized press conferences. Her strategy involved hundreds of one-on-one interviews and actual media trips to the landfill. All her efforts paid off in a massive way. With enough attention and support from donors and the public, Jane built in 2009 the first school in the world using old container vans that rose four stories high. She received an MBE from the Queen for her unparalleled efforts. After over 20 years, her charities, the Upskills+ Foundation and the Purple Community Fund, were able to build 1,757 new homes in the dump site; educated 11,000 children; sent 493 students to universities; and cooked 4.5 million hot meals. All told, PCF helped a total of 2 million individuals. The pandemic, however, hit her charities in a big way. It lost about 62 percent of their funding, partly because the UK is also in recession. They were not getting anywhere near the level of funds they used to receive. As such, they had to cut down on some projects. Now, more than ever, her charities need all the help they can get. In these challenging times, even angels like Jane need sustained publicity to remind us of what really matters in life and what we can do to help. Follow the Upskills+ Foundation and the Purple Community Fund on Facebook if you wish to donate cash or in kind or e-mail Jane Walker at jane. walker@upskillsfoundation.org

wanted to write about a song. I always write about songs. This one is called “And When October goes.” The melody is sad, the lines are coffee poetry: you sing them as if you are sipping heat and heart and warmth. But the song is really about a passing—birds flying away, a sound trailing off and vanishing into the clouds, distant thunder so far you deny them their terrifying presence. And people leaving, some like wayward heroes riding into their own sunsets, others with destiny on their side, sailing into the sunrise they have created from their own childhood, riding off into the eternity with their memories of this world—its pains and triumphs—intact like receipts for a life well lived and well done. It is the morning of November 1. What happened to the last day, the 31st of October? While some months are blessed only with 30 days, no more and no less, October has been granted a reprieve. Did that ever concern me? Do you bless that extra day, that one more day—whether it be for recovery for a bad 30th or a sumptuous space for bidding goodbye to a wonderful October, and welcoming one that has only 30 days to its name? Last night, the rains fell and went on till morning. The fields would be muddy, people said. While these two feasts—All Souls and All Saints— are interchangeable in the minds of many, the day before the first of November is a preparation for honoring the unseen, the remembered. If we just reckon by how the months are arranged, we could find logic, a sequence that has a story to tell. November has, for us, been marked as the month for those who have passed on. A theology backs this claim up and a belief system has regimented how we should behave towards the calendar. And so on this day—the days leading to it and the days moving away from it —something will happen. As it happens

each year, each time October goes and November comes. But this shift does not happen without an equivalent, or a gift from us. We should learn how to listen to the passing of days, and the turning of the moon. The change in days does not merely take an hour from another space and bring it onto another. We need to be still, to sense the moving of the earth below our feet and, deeper, below the ground. Do we believe we can hear the seeds sprouting? Or can we see with our heart the rocks underneath trembling, and where they are going? Do stars matter now? There is a rite involved in this very human endeavor. And with ceremonials, taboos abound: do not think too much; never anticipate events; allow passion into thinking and welcome intellect to any passing emotion. There are no regular or ordinary social facts in the

Friday, November 3, 2023 A11

world of humans. All documents contain, by the very fact of their truths, teachings of mysticism. Statistics, social analysis, philosophical introspections, anthropological readings—they contain mysteries first before they become numbers, deconstructions, theories. Molded by a kind of education, we are prone to rely on the material, the less-than imagined. And thus when we see an online report contained in a file called Population Reference Bureau, we need not be quiet and calm. It is one more lesson, one more allegory to be familiar with as we live on as thinking beings. That document tells us for one this: That approximately 117 billion individuals have passed away since the inception of mankind. How do we confront this number? By going back to a simple report that, as

of now, there are 8 billion of us living in this world. It means we have been replaced so many times that if replacement is purification, then we are this population that has come clean at the end of centuries of wars and diseases and storms and happiness. Not bad. And so if you think (and this happens to the best of us) a crime against your heart has been committed by a person or persons who ought to understand you more, then think again, when did this take place. If it happened toward the end of, let’s say, September, then that month allows you a week or weeks to be angry, or, more righteously, to rage. Either way, the days are there for you and you alone to see what evil or accident or unintended misfortune has been wrought upon you. Then October comes—you have an extra day to think: should I forget or forgive? As the months go on, you backtrack and, if you are enlightened or fated to see them, you uncover a lock to understanding what went wrong, what was wrong all the time. Still, the month listens to you and enables you to go through what could be a sad, a bad part of your life. As the days grow longer, we resort to the very human trick of giving ourselves a deadline. The end of the month. Think of that “31st” in October. Think of an extra night to find that tiny window that you thought was not there at all in your cell of a life. At last, November comes. The month when the Living thinks of the Dead. And because you write and because you are a good person, you remember a poet asking you to “listen: there’s a hell of a good universe next door; let’s go.” E-mail: titovaliente@yahoo.com

Powell hints Fed is done with hikes in pivot cheered by markets

By Steve Matthews and Craig Torres

ederal Reserve Chair Jerome Powell hinted the US central bank may now be finished with the most aggressive tightening cycle in four decades after it held off on raising interest rates for a second consecutive policy meeting. “The question we’re asking is: Should we hike more?” Powell told reporters during a press briefing after the decision. “Slowing down is giving us, I think, a better sense of how much more we need to do, if we need to do more.” The central bank’s policy-setting Federal Open Market Committee left its benchmark rate unchanged Wednesday in a range of 5.25 percent to 5.5 percent, following a two-day meeting in Washington. Officials signaled in a post-meeting statement that a recent rise in longer-term Treasury yields reduces the impetus to hike again, though they left open the door to another increase. Powell’s dovish pivot cheered markets, with the S&P 500 index closing more than 1 percent higher on the day. The 10-year US Treasury yield tumbled below 4.75 percent for the first time in two weeks, extending moves initially triggered in the morning by the Treasury Department’s plans to slow the pace of increase in its long-term debt sales.

Eagle Watch . . . continued from A10

Capital Region (NCR) posted at P570/ day for non-agriculture establishments, and P533/day for the agricultural firms, retail/service establishments with 15 workers or less, and manufacturing firms with less than 10 workers. The lowest wage rates are from the BARMM, ranging from P306/day to P341/day. Salary and wage workers comprise 62.2 percent of the entire Philippine labor force, of which 48.5 percent are

Futures were pricing in a roughly one-in-four chance of another rate hike by January, compared to around 40 percent the day before. “The Fed is basically saying: We don’t think we will have to do much more from here,” said Bill Dudley, a Bloomberg Opinion contributor and former New York Fed chief. Powell “feels very confident the Fed has done a lot.” “Both Fed Chair Jerome Powell and the FOMC policy statement sounded dovish overall, in our view. Considering the hawkish ways officials could have interpreted the positive economic surprises since the September meeting, this all suggests the FOMC is inclined to go on an extended rate pause,” said Anna Wong, chief US Bloomberg economist. With inflation still well above the Fed’s 2 percent target and economic growth at the highest in almost two years, Powell and his colleagues retained the option to move again if necessary. The Fed chief told reporters that private sector workers (who are covered by the minimum wage law), and only 9.2 percent are public servants who are not covered by the minimum wage law. This means that almost half of the country’s labor force is theoretically protected by the minimum wage law. The aim of enforcement is to attain that desired degree of compliance with the rule of prescribed behavior, and the critical reason that deters a society from enforcing “complete” compliance is that enforcement is costly. Like other laws and regulations, enforcement of the

Powell’s dovish pivot cheered markets, with the S&P 500 index closing more than 1 percent higher on the day. The 10-year US Treasury yield tumbled below 4.75 percent for the first time in two weeks, extending moves initially triggered in the morning by the Treasury Department’s plans to slow the pace of increase in its long-term debt sales.

decisions will be made “meeting by meeting,” and noted the committee will have an abundance of data, including two employment reports and two inflation reports—as well as more data on financial conditions and geopolitical risks—before December. He said Fed leaders are monitoring the Israel-Hamas war for economic implications. “The Fed is not in a position to declare victory,” said Rubeela Farooqi, chief US economist at High Frequency Economics. “That means that officials will keep the option of further tightening on the table, for now.”

Dot plot

Still, Powell distanced himself Wednesday from the “dot plot” of quarterly interest-rate projections minimum wage law does not happen without the compulsion from government authorities accompanied by work-site inspection and penalties, but government officials are sometimes restrained from adopting an extreme compliance program. However, recent findings present the opposite direction. In the recent study on minimum wage law enforcement, compulsion from government authorities is not always essential to attain compliance or to prevent noncompliance. Badauoi et.al (2022) revealed that workers in high-productivity firms will complain and

last updated after the FOMC’s previous meeting in September, saying it only represented officials’ individual views at a particular point of time. “That’s not like a plan that anybody’s agreed to, or that we will do,” he said. “I think the efficacy of the dot plot probably decays over the threemonth period between that meeting and the next meeting.” Powell repeatedly said the committee was moving “carefully,” a wording that often has signaled a low likelihood of any immediate change in policy. He also said risks to the outlook have become more twosided as the tightening campaign nears its end. The chair brushed aside concern over rising inflation expectations reflected in a recent University of Michigan survey—a survey he had previously cited in June 2022 as partial justification for a shift to outsize rate hikes. “They see an opening for no recession and a soft landing, and they think that is a risk they are willing to take,” said Derek Tang, an economist at LH Meyer, a policy analysis firm in Washington. The risk is “if doesn’t turn out that way, you are behind again, and you don’t want to be behind a second time.” With assistance from Jonnelle Marte and Rich Miller/Bloomberg

cause inspection if they are paid less than the minimum wage. This will cause the firm to comply and behave according to the law. Conversely, workers in low-productivity firms will not complain because of fear of closure of the firm, so the firm can safely ignore the minimum wage law. In the future, compulsion may not be the only method of enforcement of law, but the incentive to comply and the disincentive not to comply. Ms. Ruby A. Badilles is a graduate student at the Department of Economics of Ateneo de Manila University.

A12 Friday, November 3, 2023

ODA ON MARCOS-KISHIDA Unctad: Regl, South-South WPS, AGENDA ON FRIDAY, SAYS DFA trade will diversify exports P

By Andrea E. San Juan @andreasanjuan

EGIONAL trade as well as South-South trade can provide a significant opportunity for developing countries to diversify their production and export basket, according to the United Nations Conference on Trade and Development’s (Unctad) Trade and Development Report 2023. “Given the new industrial policy initiatives being adopted in advanced countries, which may shorten their existing supply chains, developing countries will need to look for new outlets to diversify their export markets,” the Unctad report noted. The report said that since 1995, South-South merchandise trade has grown faster than global trade and faster than North-South trade. The Philippines is one of the countries in the South-South trade. According to a report by Unctad, Asian countries, particularly the “tigers” and “dragons” among them,

dominate South-South trade in terms of trade value. The report said South-South trade accounted for around 54 percent of South’s total trade in 2022. “South-South trade has also grown steadily in food, fuel, ores and metals, and fertilizers, with many developing countries, including Brazil, China, India, Indonesia and Thailand playing major roles,” the report underscored. While South-South trade should not be seen as an “alternative” to North-South trade, it can provide an opportunity for developing countries to diversify their produc-

tion and export basket, Unctad said. To further boost South-South trade, the UN’s focal point for trade and development said the Global System of Trade Preferences (GSTP) initiative of Unctad can play a “critical role” by providing an opportunity to negotiate, among others, tariff reductions among developing countries in products based on “mutual preferences.” Apart from South–South trade, the report said regional integration programs such as the African Continental Free Trade Area (AfCFTA) -- to the extent they support diversification and the benefits are broadly shared -- can also mitigate the negative effects of the current situation, including with respect to climate change and food insecurity.

Anemic growth

UNCTAD’S Report said that after experiencing a rollercoaster ride in 2020–2022, global trade is forecast to grow about 1 percent in 2023, “significantly” below world economic output growth, with merchandise trade “hovering in negative territory.” Moreover, multiple downside

risks remain, which could further impact the trade outlook. These include the ongoing trade tensions between major economies, the weakening of global demand and growing geopolitical uncertainties, it said. “In the medium term, trade is heading back to its subdued precrisis trend; in the near term, it will stand even below this figure. This is because the growth of merchandise trade has hovered around negative territory in 2023, despite global trade in services showing resilience,” it added. Last week, Sergio R. Ortiz-Luis Jr., the President of Philippine Exporters Confederation Inc. (Philexport) expressed optimism that the country’s exports will recover, albeit at a gradual pace, despite the external headwinds such as the conflict in Middle East and Eastern Europe, which he said are beyond the country’s control. In January to August 2023, the country’s merchandise export earnings amounted to $47.81 billion, a 6.6-percent decline from the $51.18 billion recorded in the same period last year. In 2022, the country’s export earnings reached $78.98 billion.

RESIDENT Ferdinand R. Marcos Jr. and Japanese Prime Minister Kishida Fumio are scheduled to engage in discussions concerning matters related to the West Philippine Sea (WPS) and Japan’s Official Development Assistance (ODA) during Prime Minister Kishida’s official visit to the Philippines from Friday until Saturday, November 4, 2023. In a statement, the Department of Foreign Affairs (DFA) said Prime Minister Kishida will visit the Philippines from November 3 to 4, with his bilateral meeting with President Marcos as the highlight. According to the DFA, both leaders are expected to explore the multifaceted and dynamic cooperation between the two nations, encompassing political and security collaboration as well as economic and people-to-people relations. The agenda includes discussions on the West Philippine Sea, trade and investment, and Japan’s Official Development Assistance (ODA). They will also exchange perspectives on significant regional, international, and United Nations issues impacting the region and the world. “Both leaders are expected to discuss the two countries’ multifaceted and dynamic cooperation on political and security cooperation and economic and people-to-people relations,”the DFA said. “Among the specific issues to be discussed are the West Philippine Sea, trade and investment, and Japan’s Official Development Assistance (ODA). They will also exchange views on major regional,

international, and United Nations issues affecting the region and the world,” it added. The official reception of Prime Minister Kishida by President Marcos is scheduled during the welcoming ceremonies at the Malacañan Palace on Friday, November 3. Prior to Prime Minister Kishida’s visit to the Philippines, President Marcos carried out an official visit to Japan in February 2023, resulting in the sealing of agreements valued at $13 billion, with the potential to create numerous employment opportunities for Filipinos. The House of Representatives and the Senate are set to conduct a special joint session on Saturday, November 4, 2023, for the Japanese Prime Minister. Speaker Martin Romualdez gave assurances that, as the esteemed host venue for this momentous event at the Batasang Pambansa Complex, “we are dedicated to ensuring that Prime Minister Kishida’s visit is both productive and memorable.” “We warmly welcome His Excellency Kishida Fumio, Prime Minister of Japan, on his significant official visit to our country on November 3 and 4 this year. It is with great anticipation that we look forward to his address to the Congress of the Republic of the Philippines in a Special Joint Session on November 4, 2023, at 11:00 in the morning,” the top House leader said.

Jovee Marie N. Dela Cruz

TDC engages Comelec on withdrawal, overtime pay A TEACHER’S group has called on the Commission on Elections to recognize the reasons teachers backed out from their poll duties in the Barangay and Sangguniang Kabataan Elections (BSKE). If the teachers withdrew because they felt a threat to their life and safety, the Comelec should recognize it because the poll duties were “not compulsory,” said the Teachers’ Dignity Coalition (TDC). “If the teachers in these areas believe that security is inadequate, then it is a failure of the government,” TDC said in a statement. On the day of the BSKE, around 2,500 teachers backed out from their poll duties, mostly in the region of Bangsamoro. According to the report of conflict watchdog Council for Climate and Conflict Action Asia (CCAA), the teachers did not show up due to the “lack of trust” in law enforcers’

abilities to protect them. Meanwhile, Comelec Chairman George Garcia said on Thursday the poll body “respects their decision” as it is within their right to withdraw and it is “not mandatory to teachers.” “But what about those very very few who on the day of the elections, when the precincts already opened, suddenly withdrew without any notice whatsoever,” Garcia told reporters in a viber message. Their refusal to turn over the election paraphernalia to their replacements for no known reason also “complicates” the issue, he added. As a result, Garcia said they will conduct an investigation regarding the cases of teachers backing out from poll duties as it “may endanger future electoral exercises.”

No overtime pay

Following an appeal filed by TDC to grant teachers overtime pay for

working in the BSKE, Comelec cannot give overtime pay for teachers who served as poll watchers, said Garcia on Thursday, The poll body “would like to give,” but is restrained by a joint circular by the Commission on Audit (CoA) and the Department of Budget and Management (DBM) indicating that “only employees of an agency are entitled to claim overtime.” “The teachers who served as electoral board members are not employees of Comelec. Moreover, the budget provided us did not provide for such an item,” said Garcia. TDC Chair Benjo Basas said they will bring the appeal to Congress. “Our teachers consider the task a patriotic duty, but a good compensation package will help persuade more qualified teachers to sit as members of the Electoral Board (EB), the top priority under the Election Service Reform Act,” said Basas. Patrick V. Miguel

OFW financial literacy theme of Nov 10 Summit–Villar

INANCIAL literacy will be a key theme of the upcoming 12th OFW and Family Summit on November 10, according to Senator Cynthia A. Villar, who called on Overseas Filipino Workers (OFWs) and their family members to register for the event to be held at The Tent, Vista Global South, C5 Road, Las Piñas City. Villar said the theme for this year’s summit is “Masaganang Kabuhayan Para sa OFWs and Families.” “My family and many OFWs always look forward to this event because it has evolved into an occasion where OFWs and their families gather and interact with private and government institutions for concerns ranging from access to financial services, social benefits, legal assistance, among others,” noted Villar. “We hope to inculcate financial literacy among OFWs, which will equip them with the necessary

tools to grow their money in their homeland,” also said the senator, a known advocate of the rights and welfare of our migrant workers. Dur ing t he one- d ay summit, which starts at 8 a.m. and ends at 4 p.m., participants will be taught to wisely invest hard-earned money and to avoid falling victims to human trafficking, illegal recruitment and investment scams. OFWs and members of their family like their spouses and children, parents and siblings may register for the summit. Registration is free at the entrance of the venue. To join the raffle draw, one must be registered. Raffle prizes include among others, Camella house and lot, motorcycles and Kabuhayan showcases from All Day Home. Participants may register online. Just go to the link: https:// of wsummit2023.villarsipag. org/; or scan the QR code in-

front of the flyer/poster and follow these instructions. Villar said they can also go to OFW & Family Summit Desk In Vista Mall and Starmall branches nationwide. They can register onsite on November 10 (Friday). “Read the instructions for registration and submit needed documents which can be seenin the flyer/poster/registration link.” After registration, they have to wait for the confirmation/verification that will be sent them through email or mobile. The senator reminded those joining the event to bring their passport and working visa of OFW, proof of remittances, Seaman’s Book, job contract, copy of documents like marriage contract, birth certificate inorder to prove one is a relative of an OFW, Covid vaccination card, Vax certificate or International Certificate of Vaccination with 1st dose and 2nd dose.

Companies BusinessMirror

Editor: Jennifer A. Ng

Friday, November 3, 2023

EDC, 2 other firms secure Meralco kicks off CSP for 1,800MW renewable energy deals By Lenie Lectura

@llectura

opez-led Energy Development Corp. (EDC) and two other companies were declared by the Department of Energy (DOE) as winning bidders in the 4th Open and Competitive Selection Process (OCSP4) for geothermal and wind energy resources.

The DOE offered 20 Pre-Determined Areas (PDA) for potential renewable energy (RE) development. Of which, 14 are hydropower, with a total potential capacity of 87.96 megawatts (MW); three PDAs are geothermal, with a total potential capacity of 160 MW; and the remaining three areas are for the development of wind resources. In an advisory, the DOE said EDC

won geothermal PDAs number 1 (Buguias-Tinoc) and 3 (Mt. Sembrano). For wind power projects, PDA no. 2 (Pantabangan) will be developed by Freya Renewables Inc. while PDA no. 3 (Bagac) will be awarded to South Luzon Energy Solutions Inc. The DOE said the three firms met the criteria and will soon receive formal notice. The awarding of RE contracts is targeted on

November 24, 2023. The OCSP is being adopted as a mode for the selection and award of renewable energy (RE) contracts particularly for identified PDAs through a bidding process. PDAs refer to locations with potential RE resources, as supported by sufficient technical data, and are suitable for further development. There were no applications for six hydro PDAs, with a total power generation capacity of 23.56MW, and one geothermal PDA, with a capacity of 40MW. Moreover, applications for two hydro PDAs with a combined potential capacity of 16.8MW were disqualified due to incomplete submission and denial of motions for reconsideration. Further, the DOE disqualified six hydro PDAs with 47.6MW of potential capacity and one wind PDA for failure to pass the evaluation. As per OCSP4 guidelines, these

PDAs are now open for direct applications and that applications should be made through the DOE’s Energy Virtual One Stop Shop platform immediately. Earlier, the DOE announced it received a total of 25 applications. These are from QuadRiver Energy Corp., Regenerative Sustainable Projects Inc., Paragon Green Energy Development Corp., King Energy Generation Inc., Energy Development Corp., Mainstream Renewable Power Philippines, PacificWind Renewables Corp., First Gen Visayas Energy Inc., wpd Philippines Onshore Inc., GigawaWind2 Inc., L MORE 44 Construction OPC, South Luzon Sustainable Energy Inc., Freya Renewables Inc. Most of them submitted more than one application. This is the first OCSP round to offer PDAs for wind projects, resulting from the recently completed resource assessment for wind energy in the Philippines.

Ayala Land unit income down 37% By VG Cabuag @villygc

yala Land Logistics Holdings Corp., a unit of property developer Ayala Land Inc., said its income in January to September declined by 37 percent to P354 million from the previous year’s P565.27 million. Consolidated revenues for the period fell 23 percent to P2.1 billion from the previous year’s P2.74 billion. The company said domestic demand for industrial lots remains strong with sales reservations reaching P1.4 billion, 10 percent higher than last year.

Meanwhile, revenues posted at P834 million for the period is 31 percent lower than previous P1.2 billion mainly due to early-stage completion of newly launched projects. “We remain focused on our strategies and plans to continue building our diversified industrial real estate portfolio. Our commitment to long term success is evident in our forthcoming launches and expansions, which will be integral in growing our recurring revenue business and our industry presence,” Robert S. Lao, the company’s president and CEO, said. Warehouse leasing recorded P510 million in revenues, a 2-percent decline from last year, due to lower average occupancy during the period.

This is mainly attributed to the facilities upgrade in ALogis Calamba, which was completed and leased at the end of the second quarter, the company said. The company said it leased a total of 51,000 square meters in ALogis Calamba to logistics companies in May and September of this year. With an 88 percent lease-out rate, overall occupancy is expected to rise in the fourth quarter with tenants commencing operations. Meanwhile, cold storage revenues grew to P129 million from last year’s P89 million, a 45-percent increase given the addition this year of the ALogis Artico Mandaue facility in the portfolio and higher

overall occupancy. Commercial leasing revenues remained flat at P664 million, it said. In September, the company launched the third phase of Pampanga Technopark industrial township. The said phase was registered with the Board of Investments as an industrial zone. The company said it is on track to deliver its target of having an additional 10,000 pallet positions from the ongoing ALogis Artico projects in Santo Tomas in Batangas and in Mabalacat, Pampanga covering 15,000 square meters. The company said it first build-tosuit facility in Cavite Technopark is also underway.

Motortrade ‘Globe must rethink fees for late payments’ opens 100th Honda store

otortrade has opened its 100th Honda store—the second of its flagship outlets— which is strategically located along East Avenue, Quezon City. Motortrade President Paulino C. Ongtenco said the new store offers a wide array of two-wheel vehicles on display, from adventure motorcycles like the Honda Africa Twin and CRF series, to sport bikes such as the Honda CBR series. Knowledgeable and well-trained staff is on-hand to give assistance to customers in choosing the perfect motorcycle to match their riding aspirations. Also, it provides access to genuine Honda motorcycle parts and comprehensive after-service care. “This store is a testament of our commitment to provide the best options and services to our valued customers,” Ongtenco said. The partnership between Motortrade and Honda has yielded “outstanding results” over the years, and this new flagship store is a testament to their dedication to the motorcycling community, according to Ongtenco. “I cannot help but be grateful for my father’s vision to make motorcycles accessible to Filipinos. What we are seeing and what our customers may experience as they come and visit us here at our flagship store is what Alagang Motortrade is all about.” Roderick L. Abad

BusinessMirror file photo

By Jovee Marie N. Dela Cruz @joveemarie

deputy minority leader on Thursday called on Globe Telecom to reconsider its recent decision to impose additional fees on subscribers for late payments of their phone bills. House Deputy Minority Leader and ACT Teachers Partylist Rep. France Castro said that in a country where nearly half of Filipino families, approximately 13.2 million households, identify as poor, the move is seen as burdensome. Castro noted the importance of the internet and cellular communication, adding that these have transitioned from being luxuries to essential necessities in today’s society. She said these services are now considered public utilities, intend-

ed primarily for the benefit of the public rather than as profit-making ventures. “Almost half of Filipino families, or around 13.2 million families, consider themselves poor based on the latest Social Weather Station [SWS] survey, and Globe will add another fee such as this. Internet and cellular communication now are no longer a luxury but a necessity in this day and age. It is a public utility that should be primarily for the public good and not mainly for profit,” said the lawmaker. “It’s regrettable that when the company encounters issues, they offer apologies, but when a subscriber falls slightly behind on payment, they are promptly fined.” In response, she urged the Senate to expedite the consideration of Committee Report 736, which per-

tains to the refunding of subscribers by telecom companies and internet service providers for service outages and disruptions. The deputy minority leader hopes that Globe Telecom will heed the call of its subscribers and prevent other telecom companies from following suit. She warned that if such practices continue, they are likely to be investigated in Congress. Globe reported last September that the revenues of its mobile business grew by 1 percent year-on-year in the first half despite the mandatory registration of SIM cards. Darius Delgado, the head of Globe’s Consumer Mobile Business, said revenues of the mobile business reached P54.8 billion in the first six months of 2023, inching up from the P54 billion it reported the year prior.

BusinessMirror file photo

he Manila Electric Co. (Meralco) has started the competitive selection process (CSP) for 1,800 megawatts (MW) of baseload supply it needs to meet the growing demand of its customers starting next year. The utility firm announced Thursday that the Department of Energy (DOE) has issued a Certificate of Conformity on the Terms of Reference (TOR) for a 15-year contract involving Meralco’s 1800-MW baseload requirement starting December 2024. This paved the way for Meralco to commence the competitive auction. “ T h rou g h it s B i d s a nd Awards Committee for power supply ag reements [PSA s], Meralco calls on interested power generation companies to participate in the CSP, with the Submission of Expression of Interest due on Nov.13, 2023,” Meralco said. The pre-bid conference is scheduled on November 20, 2023, while the bid submission deadline is set on December 26, 2023. This CSP is meant to replace the capacity covered by Meralco’s 2021 power supply agreements (PSAs) with Excellent Energy Resources Inc. (EERI) and Masinloc Power Partners Co. Ltd. (MPPCL) which were terminated earlier this year. The Energy Regulatory Com-

mission (ERC) approved the termination of contracts just last month. The 1,800 MW baseload rebidding CSP will have the following capacity and commercial date of operations: 1,200 MW by Nov 26, 2024 and additional capacity of 600 MW by April 26, 2025. The contract term is 15 years from November 26, 2024 and Apr 26, 2025, respectively. B a s e lo a d p o w e r s up pl y is mostly sourced from coal power plants that must run on 24-hours a day. Earlier, the parties moved to terminate the PSAs because the ERC failed to act on their applications within the six-month “longstop date,” or the period in which the ERC is supposed to approve or disapprove the application of a distribution utility (DU) and its power supplier for the implementation of their PSA. Once the longstop date is over, the power supplier has the right to terminate the PSA by providing a written notice of such termination to the DU. Meralco and EERI filed their joint application last March 24, 2021 while the joint application of Meralco and MPPCL was filed on March 18, 2021. The longstop dates lapsed on September 23, 2021 and September 17, 2021, respectively. Lenie Lectura

Companies BusinessMirror

Friday, November 3, 2023

US-based EV maker to start Clark operations in Q4–CDC

By Andrea E. San Juan

@andreasanjuan

US-based electric vehicle (EV) manufacturer is targeting to start commercial operations in Clark, Pampanga in the last quarter of 2023, according to an official of the Clark Development Corp. (CDC).

Agnes VST Devanadera, president and CEO of CDC, told reporters that the EV firm is keen on launching its operations soon. “It’s plug and play. So we have existing and they just enter the facility,” Devanadera told reporters

on the sidelines of the recent 49th Philippine Business Conference & Expo (PBC&E) forum. Devanadera said the American firm is planning to transfer to Asia. In fact, she said among the countries in the region, the American EV firm

chose the Philippines as it is “more stable.” “They are moving….actually they’re existing in the US, but they want to move to Asia and they think that politically and everything else the Philippines is more stable.” Devanadera, however, did not name the company and did not indicate the size of its investment. She said that both the CDC and the manufacturer have already sealed the deal. “It is really setting up and I think they have already processed their business permit.” She said the CDC is keen on inviting more EV firms to set up shop in Clark. Meanwhile, Devanadara said investors prefer CDC over other investment promotion agencies (IPAs)

because of the state-owned firm’s low power cost and the location’s accessibility. “Well in the Philippines, there’s a competitive advantage of Clark over the other IPAs because we have the lowest electricity rate. So that’s competitive enough plus we are highly accessible through air and land and we have our best road network going to Clark.” CDC, a government-owned and -controlled corporation, recently reported a $5.5-billion increase in investments in the first half of 2023. Devanadera told reporters last week that the companies that have expressed interest to expand their operations prior to the pandemic are now planning to do so in the Clark Freeport.

SEC releases delinquent status rules By VG Cabuag @villygc

he Securities and Exchange Commission (SEC) has released the guidelines for the placement of non-compliant corporations under delinquent status, and the revocation of the certificates of registration of inactive corporations. In its SEC Memorandum Circular No. 19, Series of 2023, it provided the guidelines on the declaration of delinquent status and revocation of certificate of registration of corporations under the Revised Corporation Code. The guidelines cover corporations which have failed to formally organize and commence their business within five years from the date of their incorporation; those which have commenced operations but became inoperative for at least five consecutive years; and corporations which have failed to file their reportorial requirements three times, consecutively or intermittently, within any 5-year period. “In line with our mandate of ensuring the integrity of the corporate sector and championing good corporate governance, we will strictly enforce the reportorial requirements of corporations provided under the Revised Corporation Code and other pertinent laws, rules and regulations,” SEC Chairman Emilio B. Aquino said. “Corporations are required to submit their annual financial statements, general information sheet, official contact details and other reports for good reasons. Among others, the pieces of information contained in these reports ensure transparency and accountability in a corporation’s dealings for the benefit of its stakeholders, particularly the investors, consumers and employees.” The certificate of incorporation of a corporation that does not formally organize and commence its business within five years from incorporation will be deemed revoked, subject to

the monitoring of the SEC. The agency will tag such corporation as having a “revoked status” on the day following the end of the fiveyear period, with the corresponding order of revocation to be issued to the corporation. Corporations with revoked status may file their petition to lift order of revocation anytime, subject to existing rules and regulations. If the petition is approved, the SEC will issue an order lifting the delinquent or revoked status of the corporation. Petitions of corporations with pending intracorporate dispute between two or more groups claiming ownership or right over the same, will only be accepted upon the finality of a court decision resolving the intracorporate controversy. The SEC will issue a show cause order to corporations with continuous inoperation for 5 years, directing them to appear before the SEC to explain why it should not be placed under delinquent status. Failure to provide a valid justification for continuous inoperation will cause the corporation to be placed under delinquent status, which means that the SEC will no longer process such corporation’s applications for amendment of articles of incorporation, amendment of license, or conversion to one person corporation, among other similar transactions. A corporation with delinquent status due to continuous inoperation will have 2 years from receipt of order of delinquency to resume operations, through the submission of proof of its operations, such as income tax returns, mayor’s or business permits, contracts, and receipts for payment of real estate tax, as well as other similar documents. Corporations that have failed to file its financial statements or general information sheet (GIS) for three times, consecutively or intermittently within a period of 5 years will also be placed under delinquent status. The release of the guidelines follows the issuance of a list of 22,403 ordinary corporations in danger of having their certificates of incorporation revoked for failure to submit their general information sheets within 5 years from the date of their incorporation. The SEC also previously released a list of 298,335 ordinary corporations, which have failed to submit their GIS for three times consecutively or intermittently within a 5-year period.

MUTUAL FUNDS

October 31, 2023

NAV One Year Three Year Five Year Y-T-D per share Return* Return Stock Funds ALFM Growth Fund, Inc. -a 194.52 -2.4% -1.52% -4.08% -2.22% -6.72% ATRAM Alpha Opportunity Fund, Inc. -a 1.4004 11.64% 8.65% 0.42% 0.86% 4.18% ATRAM Philippine Equity Opportunity Fund, Inc. -a 2.6712 -2.95% -1.19% -6.44% -3.86% -8.36% Climbs Share Capital Equity Investment Fund Corp. -a 0.6618 -0.73% -2.04% -4.87% n.a -4.61% First Metro Consumer Fund, Inc. -a 0.6061 -3.46% -4.1% -5.16% n.a -6.55% First Metro Save and Learn Equity Fund, Inc. -a 4.3095 -2.96% -0.37% -2.71% -1.85% -7.32% First Metro Save and Learn Philippine Index Fund, Inc. -a 0.6386 -4.46% -2.27% n.a n.a -8.91% MBG Equity Investment Fund, Inc. -a 84.66 13.49% -0.61% -4.99% n.a 12.49% PAMI Equity Index Fund, Inc. -a 39.585 -3.45% -1.25% -3.13% n.a -8.35% Philam Strategic Growth Fund, Inc. -a 412.79 -2.78% -2% -3.14% -2.24% -7.12% Philequity Dividend Yield Fund, Inc. -a 1.1399 -1.13% 3.1% -0.98% n.a -3% Philequity Fund, Inc. -a 31.2262 -1.57% 0.73% -2.19% -0.3% -6.22% Philequity MSCI Philippine Index Fund, Inc. -a 0.7866 -2.56% -0.84% n.a n.a -7.33% Philequity PSE Index Fund, Inc. -a 4.165 -2.37% -0.28% -2.24% -0.42% -7.35% Philippine Stock Index Fund Corp. -a 692.86 -2.49% -0.46% -2.31% -0.59% -7.49% Soldivo Strategic Growth Fund, Inc. -a 0.6226 -1.66% -0.71% -5.18% n.a -7.64% Sun Life Prosperity Philippine Equity Fund, Inc. -a 3.0955 -3.02% -1.16% -4.3% -2.18% -8.23% Sun Life Prosperity Philippine Stock Index Fund, Inc. -a 0.7858 -2.83% -0.79% -2.64% n.a -7.76% United Fund, Inc. -a 2.9079 -2.08% -0.31% -2.64% -1.35% -6.03% Primarily invested in Peso securities (units) COL Equity Index Unitized Mutual Fund, Inc. -a 0.9757 -2.93% n.a n.a n.a -7.62% COL Strategic Growth Equity Unitized Mutual Fund, Inc. -a,20.9956 n.a n.a n.a n.a n.a Philequity Alpha One Fund, Inc. -a 0.9557 -1.65% 0.27% n.a n.a -8.67% Philippine Stock Index Fund Corp. -a 841.12 -2.62% n.a n.a n.a -7.53% Exchange Traded Fund (shares) First Metro Phil. Equity Exchange Traded Fund, Inc. -a,c94.0111 -1.88% -0.12% -2.03% n.a -7.03% Primarily invested in foreign currency securities (shares) ATRAM AsiaPlus Equity Fund, Inc. -b $0.7642 -0.26% -10.57% -3.2% -2.46% -10.31% Sun Life Prosperity World Voyager Fund, Inc. -a $1.454 4.32% -0.89% 4.37% n.a 2.11% Balanced Funds Primarily invested in Peso securities (shares) ATRAM Dynamic Allocation Fund, Inc. -a 1.3981 -6.36% -3.21% -2.66% -2.63% -5.83% ATRAM Philippine Balanced Fund, Inc. -a 2.0456 0.48% -0.52% -0.9% -0.7% -2.84% First Metro Save and Learn Balanced Fund, Inc. -a 2.3778 -1.94% -0.75% -0.47% -1.86% -5.09% First Metro Save and Learn F.O.C.C.U.S. Dynamic Fund, Inc. -a 0.1824 -2.67% -0.36% n.a n.a -5.74% NCM Mutual Fund of the Phils., Inc. -a 1.8457 0.09% -0.36% 0.68% 0.07% -5.08% PAMI Horizon Fund, Inc. -a 3.342 -0.02% -1.81% -0.15% -0.93% -2.89% Philam Fund, Inc. -a 14.6645 -0.75% -2.46% -0.71% -1.2% -3.15% Solidaritas Fund, Inc. -a 1.9359 0.06% -0.34% -0.62% 0.18% -2.71% Sun Life of Canada Prosperity Balanced Fund, Inc. -a 3.2067 -0.45% -1.08% -1.87% -1.32% -3.69% Sun Life Prosperity Dynamic Fund, Inc. -a 0.8403 -0.46% 1.15% -1.27% n.a -4.39% Primarily invested in Peso securities (units) Sun Life Prosperity Achiever Fund 2028, Inc. -a 0.9019 1.85% -1.77% n.a n.a -1.45% Sun Life Prosperity Achiever Fund 2038, Inc. -a 0.7852 -1.51% -2.8% n.a n.a -6.03% Sun Life Prosperity Achiever Fund 2048, Inc. -a 0.7654 -2.25% -2.82% n.a n.a -6.94% Primarily invested in foreign currency securities (shares) -7.2% -2.06% -0.39% -3.82% Cocolife Dollar Fund Builder, Inc. -a $0.03118 0.13% PAMI Asia Balanced Fund, Inc. -b $0.8308 4.77% -7.95% -1.88% -2.13% -7.28% Sun Life Prosperity Dollar Advantage Fund, Inc. -a $3.8049 1.52% -2.64% 1.96% 1.9% -1.07% Sun Life Prosperity Dollar Wellspring Fund, Inc. -a $0.9378 -0.6% -5.3% -0.87% n.a -3.48% Bond Funds Primarily invested in Peso securities (shares) ALFM Peso Bond Fund, Inc. -a 386.93 3.02% 1.61% 2.53% 2.08% 2.44% ATRAM Corporate Bond Fund, Inc. -a 1.8939 1.4% -1.03% 0.44% -0.12% 1.02% 0.76% 2.16% 3.69% 2.14% Cocolife Fixed Income Fund, Inc. -a 3.2796 2.06% Ekklesia Mutual Fund, Inc. -a 2.2228 3.16% -0.95% 0.95% 1% 2.08% First Metro Save and Learn Fixed Income Fund, Inc. -a 2.4024 0.76% -0.56% 1.66% 1% 0.47% Philam Bond Fund, Inc. -a 4.1398 0.45% -3.55% 1.72% 0.19% -0.19% Philam Managed Income Fund, Inc. -a 1.3548 3.08% 1.07% 2.91% 1.63% 2.65% Philequity Peso Bond Fund, Inc. -a 3.9531 3.17% -0.01% 2.7% 1.13% 2.19% Soldivo Bond Fund, Inc. -a 1.0378 2.96% 0.06% 3.48% n.a 2.09% Sun Life of Canada Prosperity Bond Fund, Inc. -a 3.2147 3.32% 0.46% 3.18% 1.58% 2.19% Sun Life Prosperity GS Fund, Inc. -a 1.7212 2.47% -0.37% 2.41% 1.03% 1.5% Primarily invested in foreign currency securities (shares) ALFM Dollar Bond Fund, Inc. -a $489.07 2.46% 0.61% 1.86% 2.36% 1.88% ALFM Euro Bond Fund, Inc. -a Є211.11 1.63% -1.02% -0.19% 0.71% 0.7% ATRAM Total Return Dollar Bond Fund, Inc. -b $0.9916 1.12% -7.42% -2.42% -0.49% -1.76% First Metro Save and Learn Dollar Bond Fund, Inc. -a $0.024 0.84% -3.13% -0.65% n.a 1.27% PAMI Global Bond Fund, Inc -b $0.824 -1.03% -8.89% -4.26% -3.61% -4.77% $2.1285 2.9% -5.34% 0.03% 0.98% -2.39% Philam Dollar Bond Fund, Inc. -a Philequity Dollar Income Fund, Inc. -a $0.0606696 2.02% -0.64% 1.31% 1.51% 1.28% Sun Life Prosperity Dollar Abundance Fund, Inc. -a $2.5342 -1.37% -7.3% -2.5% -0.58% -6.89% Money Market Funds Primarily invested in Peso securities (shares) ALFM Money Market Fund, Inc. -a 136.02 2.32% 1.69% 2.52% 1.99% 2.09% First Metro Save and Learn Money Market Fund, Inc. -a 1.1017 3.04% 1.74% n.a n.a 2.62% 2.63% 1.92% 2.46% 1.95% Sun Life Prosperity Peso Starter Fund, Inc. -a 1.3686 2.26% Primarily invested in Peso securities (units) ALFM Money Market Fund, Inc. -a 103.77 3.82% n.a n.a n.a 3.31% Primarily invested in foreign currency securities (shares) Sun Life Prosperity Dollar Starter Fund, Inc. -a $1.0897 2.08% 1.22% 1.47% n.a 1.84% Feeder Funds Primarily invested in Peso securities (units) ALFM Global Multi-Asset Income Fund, Inc. -a 40.9729 -7.08% n.a n.a n.a -4.56% 9.85% n.a n.a Sun Life Prosperity World Equity Index Feeder Fund, Inc. -a 1.3139 4.79% 6.64% Sun Life Prosperity World Income Fund, Inc. -a,1 0.941 n.a n.a n.a n.a n.a Primarily invested in foreign currency securities (Units) ALFM Global Multi-Asset Income Fund, Inc. -a $0.7417 -4.86% -7.26% n.a n.a -6.49%

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PSE STOCK QUOTATIONS

October 31, 2023

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

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK COL FINANCIAL FIRST ABACUS MANULIFE PHIL STOCK EXCH SUN LIFE

298,150 455,548,106 10,500 406,097,391 4,269,260 2,681,367 94,187,339.50 368,864 86,900 2,000 1,100,000 19,017,107 5,393,332 11,540 15,050 17,200 340,610 13,250

-4,450 -21,980,131 -16,664,277.50 -1,412,920 2,061,791 -24,781,551 142,196 430,961 -4,696,629 320,200 -

INDUSTRIAL ACEN CORP 5.3 5.31 5.26 5.34 5.22 5.3 11,277,500 59,745,983 ALSONS CONS 0.54 0.55 0.56 0.56 0.55 0.55 609,000 338,040 ALTERNERGY HLDG 0.83 0.85 0.89 0.89 0.82 0.85 1,245,000 1,031,620 35.7 35.95 35 36 35 35.95 765,700 27,397,515 ABOITIZ POWER 1.2 1.23 1.22 1.23 1.2 1.2 111,000 133,740 RASLAG BASIC ENERGY 0.19 0.2 0.19 0.202 0.189 0.2 480,000 92,260 FIRST GEN 18.08 18.2 18.04 18.1 18.02 18.08 247,100 4,467,306 FIRST PHIL HLDG 60.3 61.5 61.6 61.6 60.1 60.3 19,050 1,150,076 MERALCO 354.8 355 358 358 351.2 355 332,990 118,122,280 16.92 17.5 17.5 17.5 16.8 16.92 808,600 13,737,944 MANILA WATER 3.25 3.27 3.29 3.34 3.04 3.27 1,211,000 3,803,030 PETRON PETROENERGY 4.23 4.67 4.49 4.68 4.49 4.67 30,000 135,070 PHX PETROLEUM 5.3 5.99 5.99 5.99 5.99 5.99 6,000 35,940 REPOWER ENERGY 6.03 6.5 6 7 6 6.5 93,000 571,250 7.19 7.4 7.25 7.46 7.16 7.4 882,900 6,466,054 SYNERGY GRID 12.8 13 13.1 13.1 12.58 12.8 21,000 269,456 SHELL PILIPINAS 7.78 7.8 7.9 8 7.8 7.8 12,300 97,259 SPC POWER VIVANT 14.56 15.96 15.9 15.9 15.9 15.9 200 3,180 AGRINURTURE 2.06 2.08 2.03 2.09 2 2.09 5,380,000 10,980,620 1.84 1.9 1.9 1.9 1.9 1.9 5,000 9,500 AXELUM CENTURY FOOD 27.6 28 27.65 28.2 27.5 28 1,525,900 42,417,050 7.5 7.7 7.69 7.75 7.69 7.7 70,900 548,440 DEL MONTE DNL INDUS 6.27 6.4 6.45 6.45 6.26 6.4 1,790,500 11,387,004 EMPERADOR 20.8 20.85 20.7 20.85 20.7 20.8 582,200 12,085,230 SMC FOODANDBEV 49.55 50.9 50.4 50.9 49.5 50.9 65,490 3,302,746 0.63 0.64 0.63 0.64 0.62 0.64 2,790,000 1,779,040 FIGARO COFFEE 1.04 1.06 1.08 1.09 1.03 1.06 5,226,000 5,475,810 FRUITAS HLDG 166 169.8 169.7 170 163 169.8 12,250 2,072,254 GINEBRA JOLLIBEE 205 207 209.4 212 204.2 205 1,337,770 275,586,876 KEEPERS HLDG 1.36 1.38 1.38 1.38 1.36 1.38 372,000 510,800 13.04 15.96 15.98 15.98 15.98 15.98 300 4,794 LIBERTY FLOUR MAXS GROUP 3.98 4 4.04 4.05 4 4 59,000 236,450 0.096 0.114 0.105 0.105 0.105 0.105 150,000 15,750 MG HLDG MONDE NISSIN 8.2 8.25 8.5 8.5 8.18 8.2 4,105,200 33,760,884 SHAKEYS PIZZA 9.25 9.39 9.3 9.3 9.24 9.25 90,000 832,584 ROXAS AND CO 0.46 0.53 0.46 0.46 0.46 0.46 100,000 46,000 2.99 3.1 3.04 3.04 2.99 2.99 897,000 2,692,260 RFM CORP 109 109.3 110 110.3 108.1 109.3 1,320,450 144,182,975 UNIV ROBINA VITARICH 0.51 0.53 0.53 0.53 0.53 0.53 13,000 6,890 VICTORIAS 3.5 3.69 3.69 3.69 3.69 3.69 8,000 29,520 CEMEX HLDG 0.81 0.87 0.8 0.81 0.8 0.81 42,000 33,990 0.82 0.83 0.81 0.85 0.81 0.82 386,000 315,910 EC VULCAN CORP EEI CORP 5.45 5.52 5.53 5.57 5.45 5.53 85,400 473,026 MEGAWIDE 3.11 3.17 3.2 3.2 3.1 3.17 41,000 128,860 PHINMA 19.5 20 20 20 20 20 12,000 240,000 TKC METALS 0.5 0.52 0.5 0.54 0.5 0.52 33,000 16,780 1.5 1.57 1.55 1.55 1.55 1.55 28,000 43,400 CROWN ASIA EUROMED 0.73 0.87 0.87 0.87 0.87 0.87 50,000 43,500 LMG CORP 2.48 3.38 3.38 3.38 3.38 3.38 1,000 3,380 MABUHAY VINYL 5.3 5.69 5.61 5.69 5.61 5.69 2,200 12,490 PRYCE CORP 5.2 5.49 5.3 5.3 5.2 5.2 2,000 10,470 CONCEPCION 14.5 14.98 14.84 14.98 14.82 14.98 1,800 26,732 0.285 0.29 0.335 0.345 0.285 0.29 68,260,000 20,812,450 GREENERGY 3.4 3.49 3.45 3.49 3.4 3.49 9,000 31,160 INTEGRATED MICR 1.22 1.23 1.18 1.22 1.17 1.22 346,000 415,320 IONICS SFA SEMICON 2.15 2.2 2.18 2.2 2.15 2.2 371,000 813,260 CIRTEK HLDG 1.75 1.78 1.77 1.79 1.74 1.78 46,000 80,760

30,421,762 277,000 4,856,700 57,000 -3,035,778.00 -301,938 -26,466,098 -6,245,690 -652,870 -35,940 -3,000 1,000,073 -223,916 -546,940.00 7,037,060 -329,640 -537,417 -10,502,545 -975,236 125,220 59,500 -91,272 -25,980,914 -180,370 -26,999,327 116,566 -287,770 -30,530,257 -9,600 5,270 -2,964 205,550 -6,900 -323,400 -

HOLDING & FRIMS

ABACORE CAPITAL AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL JG SUMMIT KEPPEL HLDG A LODESTAR LOPEZ HLDG LT GROUP PACIFICA HLDG PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SEAFRONT RES TOP FRONTIER

44.5 127.5 7 99.05 30.2 8.84 52 18.4 54.8 95 23.4 74.85 59.5 2.84 0.6 865 169 2,500

1.05 605 45.8 10.32 10.88 0.47 0.38 4.61 9.1 5.22 545 35.85 5 0.435 4.5 8.81 1 2.7 2.71 0.9 801 103.2 1.51 92.45

45.4 128 7.4 100.5 30.25 8.86 52.3 18.66 55 100 23.7 77 59.9 2.93 0.68 1,099 170 2,650

1.06 605.5 46.2 10.6 11 0.5 0.39 4.69 9.17 5.41 549 36.75 6.38 0.47 4.55 8.85 1.26 2.83 3.06 0.94 806 105.1 1.97 95

44.5 128.9 7 98.9 30.15 8.71 52 18.4 55 100 23.7 74.95 59.2 2.93 0.55 860 170 2,650

1.05 602.5 46.4 10.16 11 0.46 0.38 4.7 9.49 5.3 547 35.85 6.5 0.435 4.5 8.52 1 2.72 3.05 0.94 810 104.3 1.51 100

44.5 131 7 101 30.25 8.84 52.5 18.66 55 100 23.7 77 60 2.93 0.68 860 171 2,650

1.07 607 46.4 10.6 11 0.47 0.38 4.7 9.49 5.35 549 36.85 6.5 0.465 4.5 8.85 1 2.89 3.05 0.94 818.5 105.1 1.51 100

44.5 127.5 7 98.4 30.15 8.71 51.75 18.2 55 100 23.4 74.7 59.2 2.84 0.55 860 169 2,650

1.02 602 45.55 10.16 10.88 0.46 0.38 4.61 9.01 5.3 535 35.1 6.5 0.435 4.35 8.5 1 2.62 3.05 0.94 801 103 1.51 95

44.5 127.5 7 100.5 30.25 8.84 52.3 18.66 55 100 23.4 77 59.5 2.84 0.68 860 169 2,650

1.05 605.5 45.8 10.6 11 0.47 0.38 4.61 9.17 5.35 549 36.75 6.5 0.465 4.5 8.85 1 2.84 3.05 0.94 801 105.1 1.51 95

6,700 3,548,280 1,500 4,091,650 141,400 305,400 1,808,800 20,200 1,580 20 47,000 251,680 90,740 4,000 25,000 20 2,000 5

447,000 177,370 1,504,800 2,003,700 26,700 30,000 810,000 56,000 4,655,900 300 124,650 1,335,400 100 530,000 137,000 2,105,700 25,000 309,000 200,000 12,000 289,500 51,690 1,000 2,240

468,870 107,265,320 68,934,365 20,969,006 293,460 13,900 307,800 259,030 42,766,581 1,595 67,769,760 48,430,530 650 230,850 613,550 18,265,659 25,000 834,840 610,000 11,280 232,689,880 5,379,854 1,510 217,794.50

PROPERTY AYALA LAND 27.5 27.85 26.75 28 26.2 27.85 14,379,500 390,582,395 AYALA LAND LOG 1.66 1.69 1.7 1.7 1.65 1.69 302,000 504,680 ALTUS PROP 8.77 9.19 8.77 8.77 8.77 8.77 800 7,016 1.03 1.06 1.04 1.09 1.03 1.03 673,000 714,080 ARANETA PROP AREIT RT 32.7 32.8 33.4 33.4 32.25 32.8 384,500 12,549,090 0.67 0.69 0.7 0.7 0.69 0.69 21,000 14,690 A BROWN CITYLAND DEVT 0.69 0.72 0.69 0.74 0.69 0.72 95,000 65,730 CROWN EQUITIES 0.07 0.072 0.069 0.07 0.069 0.07 200,000 13,900 CEB LANDMASTERS 2.53 2.57 2.53 2.57 2.53 2.53 9,000 22,810 0.31 0.315 0.31 0.31 0.305 0.305 60,000 18,550 CENTURY PROP 2.53 2.54 2.53 2.54 2.51 2.53 1,836,000 4,639,660 CITICORE RT DOUBLEDRAGON 6.8 6.85 6.8 6.9 6.8 6.8 14,800 100,814 DDMP RT 1.28 1.29 1.28 1.29 1.27 1.28 542,000 693,180 DM WENCESLAO 6.3 6.35 6.35 6.35 6.3 6.3 11,500 72,545 0.13 0.133 0.135 0.135 0.133 0.133 30,000 4,010 EMPIRE EAST EVER GOTESCO 0.285 0.3 0.285 0.3 0.285 0.3 1,030,000 303,800 FILINVEST RT 2.99 3 3 3.01 3 3 215,000 645,060 FILINVEST LAND 0.6 0.61 0.6 0.61 0.6 0.61 414,000 248,900 8990 HLDG 8.6 9.04 8.5 9.04 8.5 9.04 200 1,754 792 820 810 820 810 820 1,230 1,004,500 GOLDEN MV 0.485 0.57 0.59 0.59 0.57 0.57 11,000 6,290 PHIL INFRADEV KEPPEL PROP 5.69 6.9 6.9 6.9 6.9 6.9 100 690 CITY AND LAND 0.77 0.78 0.78 0.78 0.77 0.77 13,000 10,030 MEGAWORLD 1.95 1.98 1.96 1.98 1.93 1.98 8,353,000 16,324,330 MRC ALLIED 0.182 0.188 0.183 0.189 0.182 0.188 910,000 169,310 12.18 12.2 12.28 12.28 12.16 12.18 192,200 2,345,548 MREIT RT 0.228 0.229 0.228 0.228 0.228 0.228 20,180,000 4,601,040 OMICO CORP PREMIERE RT 1.5 1.51 1.5 1.51 1.5 1.51 43,000 64,630 RL COMM RT 4.72 4.74 4.73 4.81 4.71 4.74 892,000 4,244,350 ROBINSONS LAND 13.94 14.18 14 14.8 13.86 13.94 2,129,200 29,821,488 0.15 0.159 0.152 0.152 0.15 0.15 2,300,000 348,760 PHIL REALTY ROCKWELL 1.32 1.43 1.32 1.32 1.32 1.32 4,000 5,280 SHANG PROP 3.5 3.58 3.58 3.58 3.5 3.58 58,000 203,560 STA LUCIA LAND 3 3.2 3.2 3.2 3.2 3.2 5,000 16,000 SM PRIME HLDG 29.8 30 30.2 30.4 29.55 30 8,378,800 250,143,045 SOC RESOURCES 0.36 0.42 0.41 0.42 0.41 0.42 30,000 12,400 2.27 2.45 2.37 2.41 2.27 2.41 9,000 21,340 VISTAMALLS VISTA LAND 1.6 1.62 1.61 1.62 1.6 1.6 156,000 251,120 VISTAREIT RT 1.67 1.68 1.65 1.68 1.65 1.66 281,000 469,280 SERVICES ABS CBN 3.6 3.68 3.65 3.7 3.6 3.65 43,000 157,350 GMA NETWORK 8.26 8.29 8.3 8.3 8.25 8.26 138,300 1,143,952 GLOBE TELECOM 1,760 1,775 1,765 1,790 1,760 1,760 9,485 16,731,010 1,202 1,210 1,206 1,224 1,190 1,210 88,955 107,052,480 PLDT 0.015 0.016 0.015 0.016 0.014 0.015 31,700,000 474,700 APOLLO GLOBAL 8.27 8.37 8.28 8.55 8.18 8.37 4,980,000 41,277,020 CONVERGE DFNN INC 3.1 3.15 3.15 3.15 3.15 3.15 317,000 998,550 DITO CME HLDG 2.82 2.83 2.97 2.97 2.83 2.83 3,863,000 11,117,270 NOW CORP 1.36 1.37 1.33 1.37 1.33 1.37 975,000 1,319,110 0.138 0.149 0.138 0.139 0.138 0.139 140,000 19,450 TRANSPACIFIC BR ASIAN TERMINALS 15.42 15.8 15 15.8 15 15.8 8,000 125,454 CHELSEA 1.28 1.32 1.31 1.32 1.28 1.32 168,000 220,110 CEBU AIR 32.4 33 33 33 32.25 33 82,200 2,707,525 INTL CONTAINER 201.2 204 201 205.8 198.1 201.2 1,453,750 292,531,354 3.77 3.8 3.77 3.8 3.77 3.8 69,000 261,520 MACROASIA 5.19 5.28 5.19 5.19 5.19 5.19 1,400 7,266 PAL HLDG 0.75 0.77 0.71 0.77 0.71 0.77 4,000 2,900 HARBOR STAR CENTRO ESCOLAR 8.5 9.05 8.45 8.45 8.45 8.45 2,400 20,280 FAR EASTERN U 600 648 565 565 565 565 100 56,500 5.9 6.89 6.89 6.89 6.89 6.89 200 1,378 IPEOPLE STI HLDG 0.4 0.405 0.395 0.405 0.395 0.405 300,000 120,500 BELLE CORP 1.17 1.18 1.18 1.18 1.18 1.18 30,000 35,400 BLOOMBERRY 9.11 9.18 9.07 9.17 8.95 9.11 8,141,200 74,099,700 PACIFIC ONLINE 2.7 2.79 2.8 2.81 2.65 2.78 421,000 1,151,970 PH RESORTS GRP 0.9 0.94 0.96 0.97 0.91 0.94 967,000 908,700 0.59 0.6 0.59 0.61 0.59 0.59 10,044,000 6,018,770 PREMIUM LEISURE 6.64 6.65 6.48 6.67 6.48 6.65 1,372,400 9,073,156 DIGIPLUS 1.72 1.77 1.79 1.79 1.72 1.75 79,000 136,780 PHILWEB ALLDAY 0.17 0.172 0.17 0.172 0.168 0.17 880,000 149,330 BERJAYA 7.1 8 8 8 8 8 100 800 1.48 1.5 1.48 1.55 1.47 1.5 284,000 426,520 ALLHOME 1.16 1.19 1.16 1.16 1.16 1.16 6,000 6,960 METRO RETAIL PUREGOLD 27.05 27.1 26.9 27.65 26.9 27.1 930,200 25,281,285 ROBINSONS RTL 39.95 41 41.25 41.25 39.8 41 400,900 16,149,620 PHIL SEVEN CORP 76.1 80 76 76 76 76 25,070 1,905,320 SSI GROUP 2.62 2.68 2.71 2.74 2.6 2.62 364,000 960,340 1.68 1.8 1.68 1.68 1.68 1.68 6,000 10,080 UPSON INTL CORP WILCON DEPOT 19.78 19.8 19.78 19.8 19.26 19.8 2,624,200 51,451,310 APC GROUP 0.22 0.232 0.22 0.232 0.22 0.232 50,000 11,120 MEDILINES 0.395 0.405 0.4 0.4 0.4 0.4 10,000 4,000 PRMIERE HORIZON 0.189 0.19 0.187 0.193 0.186 0.19 990,000 185,620 3.76 3.97 3.81 3.98 3.8 3.98 46,000 176,240 SBS PHIL CORP MINING & OIL ATOK 4.95 5 5 5 5 5 12,000 60,000 APEX MINING 2.56 2.58 2.5 2.6 2.5 2.58 3,057,000 7,824,510 3.12 3.2 3.1 3.1 3.1 3.1 20,000 62,000 ATLAS MINING BENGUET A 4.9 5 5.09 5.1 4.95 5 156,000 780,750 BENGUET B 4.9 5.1 4.75 5.1 4.75 4.9 13,000 65,200 FERRONICKEL 2.53 2.57 2.56 2.58 2.52 2.57 1,012,000 2,593,480 GEOGRACE 0.035 0.038 0.037 0.037 0.035 0.035 800,000 28,200 LEPANTO A 0.085 0.089 0.085 0.089 0.085 0.089 60,000 5,140 0.08 0.091 0.08 0.08 0.08 0.08 10,000 800 LEPANTO B MANILA MINING A 0.0045 0.0047 0.0046 0.0046 0.0046 0.0046 81,000,000 372,600 MANILA MINING B 0.0047 0.007 0.0048 0.0049 0.0048 0.0048 11,000,000 53,000 MARCVENTURES 1.06 1.07 1.02 1.07 1.02 1.07 540,000 569,450 NIHAO 0.53 0.59 0.59 0.59 0.59 0.59 20,000 11,800 5.37 5.45 5.33 5.47 5.32 5.45 1,418,000 7,686,711 NICKEL ASIA 2.9 2.91 2.9 2.96 2.9 2.91 1,192,000 3,484,240 PX MINING 28.9 29 30.05 30.1 29 29 1,979,200 57,874,655 SEMIRARA MINING ENEX ENERGY 5.85 6 5.8 6 5.8 6 7,100 41,200 ORNTL PETROL A 0.0084 0.0086 0.0085 0.0085 0.0084 0.0084 15,000,000 126,200 0.0082 0.0087 0.0086 0.0087 0.0082 0.0087 16,000,000 132,100 PHILODRILL PXP ENERGY 3.35 3.36 3.2 3.35 3.2 3.35 167,000 542,870 PREFFERED ACEN PREF A 1,010 1,035 1,035 1,035 1,035 1,035 5 5,175 ACEN PREF B 1,030 1,040 1,030 1,030 1,030 1,030 40 41,200 AC PREF AR 2,470 2,496 2,468 2,470 2,468 2,470 40 98,760 90.3 101.2 101.2 101.2 101.2 101.2 10 1,012 ALCO PREF C 430.6 468 468 468 468 468 110 51,480 ALCO PREF D AC PREF B2R 485 490 485 485 485 485 4,000 1,940,000 BRN PREF A 96.15 96.5 95 96.5 95 96.2 2,010 193,498 CEB PREF 31.8 32.1 32 32.2 31.8 31.8 56,400 1,799,640 DD PREF 90 90.95 90.95 90.95 90.95 90.95 230 20,918.50 917 948.5 917 917 915 915 5,810 5,319,075 GTCAP PREF B JFC PREF B 915 925 925 925 915 915 20 18,400 PNX PREF 3B 27.55 31.15 29.55 31.65 29.55 31.4 1,900 57,080 PNX PREF 4 255 260 260 260 260 260 330 85,800 PCOR PREF 3A 968 990 967 970 965.5 968 1,700 1,645,225 933 999 980 999 980 999 20 19,790 PCOR PREF 4A PCOR PREF 4C 981 999 999 999 999 999 670 669,330 72.1 73 72.1 72.1 72.05 72.1 11,980 863,413 SMC PREF 2F SMC PREF 2I 70.75 72.95 70.7 70.7 70.7 70.7 10,000 707,000 SMC PREF 2J 65 68.95 65 65 65 65 10,000 650,000 65.1 66.45 66.5 66.5 66.5 66.5 20 1,330 SMC PREF 2K TECH PREF B2D 48.05 49 48.95 48.95 48.95 48.95 1,600 78,320

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

TECH WARRANT

a - NAVPS as of the previous banking day. b - NAVPS as of two banking days ago. c - Listed in the PSE. 1 - Renaming was approved by the SEC last July 8, 2021 (formerly, Sun Life Prosperity Money Market Fund, Inc.). 2 - Adjusted due to stock dividend issuance last November 25, 2022. 3 - Re-classified into a Index Fund starting December 5, 2019 (formerly an Equity Fund) 4 - Renaming was approved by the SEC last October 14, 2021 (formerly, First Metro Consumer Fund on MSCI Phils. IMI, Inc.). 5 - Launch date is October 4, 2022. 6 - Launch date is August 22, 2023. “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.

BALAI FRUITAS CTS GLOBAL ITALPINAS LFM PROP MERRYMART

pifa.com.ph to see the latest NAVPS/NAVPU.”

FIRST METRO ETF

3.26 3.45 3.28 3.34 3.26 3.26 840,000 7.8 8 8 8 8 8 22,000

0.335

0.37

7,860 -17,843,555 -16,774,985 7,486,270 21,760 -203,300 -6,730,102 -13,397,075 -203,425 2,715,014 -63,571,030 2,697,437 7,840 1,600,610 8,400 -6,743,575 14,000 -49,040.00 3,050 221,680.00 -17,072 -21,730 6,350 21,000 -12,000 -324,000 240,550 -140,174 -1,428,160 -18,317,126.00 10,740 -104,712,170 -169,040 -11,707,940 -8,329,080 15,600 -12,384,449.00 998,550 -765,460 -352,740 -12,800 -197,150.00 9,726,595 15,100 -5,190 844.9999 -17,581,983 -47,000 -80,300 1,130,060 -20,640 -183,250 5,968,615 -2,983,690 1,900,000 -191,670 -267,808 19,100 690,040 4,900 -929,530.00 0 -8,480 0 -4,592,923 1,610,400 -6,725,295 -334,950 5,175 5,150 -49,360 1,012 -1,713,580 19,980 -

2,754,610 176,000

-205,890 -136,000

SMALL, MEDIUM & EMERGING

0.435 0.435 0.41 0.43 180,000 77,050 0.76 0.76 0.75 0.76 127,000 96,220 0.71 0.74 0.71 0.74 45,000 32,580 0.064 0.065 0.064 0.064 260,000 16,670 1.07 1.08 1.07 1.07 509,000 546,900 -5,350

EXHANGE TRADE FUNDS

94.3 100 93 93.7 19,880 1,866,719 -419,720

0.41 0.75 0.73 0.059 1.07 93.5

0.43 0.76 0.74 0.064 1.09 93.7

www.news.businessmirror@gmail.com

Japan ODA eyed after PHL drops China By Jovee Marie N. dela Cruz @joveemarie

member of the House Committee on Flagship Programs and Projects sees the Japan International Cooperation Agency (JICA) as a promising alternative funding source for the ambitious Mindanao Railways Project (MRP) following the Philippines’s decision to withdraw from loan negotiations with China. Surigao del Sur Rep. Johnny T. Pimentel believes that Japan, through the JICA, represents the most viable fallback option. Pimentel pointed out that JICA is already collaborating with the Department of Transportation (DOTr) to shape a comprehensive masterplan. “Our sense is that Japan is our best recourse considering that [the] JICA is already helping our [DOTr] in modeling our 30-year railway masterplan for Metro Manila, Central Luzon and Calabarzon,” the lawmaker said. Pimentel’s remarks came ahead of Japanese Prime Minister Fumio Kishida’s visit to the Philippines from November 3 to 4. According to him, the JICA is already providing the Philippines “with extremely low-interest” official development assistance (ODA loans for the Metro Manila Subway and other rail projects in Luzon. “We might as well ask them to double down and grant us the concessional loan for the MRP,” Pimentel said. Recently, the DOTr announced the termination of collaboration with China for the implementation of the South Long Haul project, the Mindanao Railway project and the Subic-Clark Railway project. According to government officials, Manila reached such decision after Beijing’s “apparent disinterest” in financing these projects. DOTr Secretary Jaime J. Bautista, however, affirmed ongoing collaboration with the Department of Finance (DOF) to identify alternative funding sources for these initiatives. Pimentel suggested that it would be advantageous to approach the JICA for a concessional loan to fund the MRP. “We absolutely need the MRP to accelerate the transfer of people and goods and drive Mindanao’s economic and social development,” the lawmaker said. Pimentel anticipated that the MRP would generate tens of thousands of construction-related jobs and livelihood opportunities, significantly benefiting lowincome families over an extended period. The initial phase of the MRP, estimated at P83 billion, will encompass the construction of a 100-kilometer rail line connecting Tagum City, the capital of Davao del Norte, with Digos City, the capital of Davao del Sur, via Davao City. When completed and running, the first phase is expected to drastically reduce travel time between Tagum and Digos from three hours to just an hour. Phase I will accommodate up to 122,000 commuters every day in its first year of operation. Six commuter trains (with five cars each) will be deployed every hour and run through eight stations. The line will also have 15 freight cars and three spare cars. As originally designed, the entire MRP will eventually consist of a 1,544-kilometer railway stretching out to the cities of General Santos, Cagayan de Oro, Iligan, Cotabato, Zamboanga, Butuan, Surigao and Malaybalay.

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Friday, November 3, 2023

BIR to hunt tax-evading influencers

By Cai U. Ordinario

@caiordinario

HE Bureau of Internal Revenue (BIR) is in the process of crafting an “Oplan Digital Kandado” program to crackdown on social media influencers who failed to pay taxes. BIR Assistant Commissioner Jethro M. Sabariaga told reporters that crucial to the implementation

of this program is a form of technology that will allow the agency to shut down social media pages of

Associations and their enduring reason for being

SSOCIATIONS have long touched our lives and have been an integral part of human society for centuries, providing a platform for like-minded individuals to bond together, collaborate and work towards common goals and aspirations. Associations serve a diverse array of purposes, from professional development and advocacy, to social engagement and community building. Despite the ever-changing landscape of the modern world, associations continue to thrive, driven by their enduring reason for being. Here are vital roles associations play in nurturing collective purpose: 1. Fostering community and connection. At the heart of every association lies the desire to foster a sense of community and connection among members. People naturally seek to identify with others who share similar interests, passion and aims. Associations provide a safe and supportive environment for individuals to come together, form bonds and share experiences. Whether it’s a professional association connecting individuals in the same line of work or a trade association bringing businesses in the same industry, these organizations create a sense of belonging and camaraderie. The enduring appeal of associations lies in their ability to create a space where people can find common ground, collaborate and draw strength from each other. 2. Promoting shared values and advocacies. Associations often arise from a collective desire to

Association World Octavio Peralta promote shared values and advocate for specific causes. They provide a platform for like-minded individuals to combine their voices and work towards positive change. By uniting members around a common purpose, associations can influence policy, shape public opinion and effect meaningful societal impact. Associations also serve as catalysts for social change and progress. Their unwavering commitment to advocating for their members and the broader community gives them a sense of purpose and keeps them relevant and resilient over time. 3. Supporting personal and professional growth. Associations are noted for their role in supporting personal and professional growth. They offer valuable resources, educational opportunities and networking platforms for individuals to expand their knowledge and skills. From workshops and conferences to mentorship programs and certifications, associations empower their members to thrive in their respective fields. The enduring reason for associations lies in their dedication to nurturing continuous learning and development. By fostering an environment of growth, these organizations remain indispensable to

errant influencers. However, until this technology is identified, the BIR will continue to accept voluntary income tax payments from social media influencers. “That [technology] would be refreshing na meron ng [there could be] wherewithal ’yung [for] government agencies to flag abuses doing commerce in the digital space. And that closes down [the] chasm between this universe that we have and that alternate universe,” Sabariaga said. The BIR official admitted that, currently, collecting taxes from the

their members throughout various stages of their personal and professional lives. 4. Providing a unified voice. Associations often perform as a unified voice for their members, advocating on their behalf and ensuring that their concerns are heard and addressed. Whether it’s negotiating with government bodies, engaging in industry discussions, or addressing community issues, associations amplify the collective voice of their members. This unifying force is essential to tackling complex challenges that individuals may struggle to overcome on their own. The ability to pool resources and collaborate for a common cause strengthens the relevance and significance of associations in today’s interconnected world. As the world evolves, associations need to remain adaptable and responsive to the changing needs of their members and the broader community. By staying true to their purpose and embracing innovation, associations can continue to prosper and make a lasting impact for generations to come. Their enduring raison d’être lies in the invaluable role they play in nurturing collective purpose and enriching the lives of their members. Octavio Peralta is currently the executive director of the Global Compact Network Philippines and founder and volunteer CEO of the Philippine Council of Associations and Association Executives (PCAAE), the “association of associations.” PCAAE will hold its 11th Associations Summit at the PICC on December 20, 2023. E-mail: bobby@pcaae.org.

This undated photo courtesy of the Philippine Amusement and Gaming Corp. shows an artist’s perspective of the proposed wellness center the Pagcor expects to be built through its contribution to the national government. CREDIT: Philippine Amusement and Gaming Corp.

tions, the biggest slice of Pagcor’s contributions for 2024 is the 50 percent government share from its operating income estimated at P37.5 billion followed by the socio-civic component at P12.12 billion. Another major contribution to the national coffers is the 5 percent franchise tax amounting to P3.95 billion and the share of the Philippine Sports Commission at P1.87 billion. Cities that host casinos will get P451 million while sports incentives and benefits will receive P100 million.

trict Rep. Jose Ma. Clemente “Joey” S. Salceda said he will file a bill that would block e-commerce platforms like Shopee and Lazada from selling cigarettes to minors. Salceda said an “outright ban” on e-commerce platforms is necessary to curtail the proliferation of illegal cigarettes as they have made these items more accessible to the public, even to minors. The House Ways and Means committee chairman said the Lower House is already drafting the bill what would implement such stringent measure.

Singapore crypto operator offers GCash-type wallet

Pagcor allots ₧56B for socio-civic projects as gaming sector grows TATE gaming regulator Philippine Amusement and Gaming Corp. (Pagcor) announced it has allotted P56.2 billion for nationbuilding initiatives in 2024, higher by P8 billion compared with the current year as the agency expects to surpass pre-pandemic earning levels. The 2024 amount includes P12.1 billion for Pagcor’s socio-civic projects that includes the construction of school buildings, e-learning centers and community wellness centers as well as its mandatory dividends to the national government, the agency’s statement read. “We are pleased to say that Pagcor shall again contribute to nation-building in a major way next year with the gaming industry’s completely recovery and return to growth that was halted by the pandemic,” Pagcor Chairman and CEO Alejandro H. Tengco was quoted in the statement as saying. Tengco made the remarks after the Pagcor board approved the agency’s 2024 revenue projections during its annual planning conference in Baguio City where the agency said it expects net operating income to hit P61.5 billion in the coming year. Should it realize its projec-

digital space remains a challenge for the BIR. An example of this would be the cigarettes being sold on online platforms. The retail cost of these cigarettes, Sabariaga said, only amounts to the value of the excise tax imposed by the government on these sin products. “It’s unbelievable that people are selling at a loss. Di ba? [Isn’t it?],” Sabariaga said. “Doon mo nga nakikita, [This is where we will see that] the problem must be somewhere else.” Earlier, House Ways and Means committee Chairman Albay 2nd Dis-

Tengco was quoted as saying that the Pagcor will launch new flagship socio-civic projects next January that will prioritize poor and remote communities in the Visayas and Mindanao where new school buildings, e-learning centers, community wellness centers and socio-civic centers will be built. “Let us be inspired that we are truly part of nation-building,” Tengco said. “As government workers, we are duty-bound to serve our country but as Filipinos, we are foremost called to help lay the foundations of a better nation.”

By Lorenz S. Marasigan @lorenzmarasigan

PERATORS behind Singapore-based cryptocurrency platform “Account Labs” announced having entered the Philippine market by offering the Unipass crypto wallet to freelancers. One of the operators, Lixin Liu, promises the UniPass wallet offers “a simplified experience for Filipino freelancers to manage international remittances.” Liu touted the wallet would offer “instant global transactions at potentially lower costs.” He claims the crypto wallet would make a “significant” impact on the local freelance market, where traditional banking challenges and expensive remittance services are commonplace. “We acknowledge real-life, everyday challenges users face when doing P2P transfers, especially in emerging markets where international remittances are slow and expensive. UniPass Wallet is offering solutions to address these through convenience and stability,” Liu said. “Expanding financial access and inclusion has been the goal of cryptocurrencies since day one, and account abstraction is critical to achieving that goal.” However, as promising as the ser-

vice may seem, it enters a market that has been wary of cryptocurrency’s fluctuating nature. While UniPass Wallet allows for swift transactions and has low fees, ranging from 5 centavos to P1, the broader context of its crypto base could affect its reception and trust among potential users. The wallet simplifies the entry into cryptocurrency, with users able to set up and access their funds via a Google account, skipping the daunting seed phrases typical of crypto wallets. Liu claims the Unipass, which could not be found in the Monetary Authority of Singapore website, allows for top-ups through Mastercard, Visa, and local options like GCash or Maya. The “Account Labs” operator added that the UniPass crypto wallet will initially be available on Android. Liu said they also plan to launch the service in Vietnam, Malaysia and Indonesia after the Philippines. This regional push, he added, coincides with their recent fundraising. “As we expand our services to the consumer side, we are proud to offer a state-of-the-art user experience that makes running a Web3 wallet as easy as managing an email account. This is what makes UniPass wallet a game changer for Web3 adoption,” Account Labs operator Frank Lou.

Cryptocurrency push splits bulls, bears at $900-B fund manager DWS Group

INCE the creation of Bitcoin ushered in the cryptocurrency era almost 15 years ago, perhaps no other asset class has generated so much dispute about its inherent value. As major financial firms start rolling out digital-asset products for the masses, that debate is taking on new significance. DWS Group, the $900 billion German asset manager which is preparing to introduce crypto exchange-traded funds, is a case in point. “One camp of people in my group is saying forget it, the value of crypto is zero, there’s nothing behind it,” Bjoern Jesch, DWS’s global chief investment officer, said in an interview. “And there’s this other group of people saying like, hmm, I mean at least there’s a price of $35,000 for Bitcoin. Someone is paying $35,000.” The divergent views among DWS fund managers highlight the delicate balancing act facing the giants of global finance as Bitcoin stages a sharp rebound, driven by optimism that US regulators are about to approve crypto ETFs. BlackRock Inc. and Fidelity Investments are among firms that have applied to launch such products. In one corner are those who side with the likes of Berkshire Hathaway Inc.’s Charlie Munger, who in November last year called crypto “partly fraud and partly delusion.” They point to cryptocurrencies’ tendency to burn speculators in repeated bouts of extreme volatility, and their frequent use for money laundering and other crimes. There’s also the industry’s pen-

chant for self-inflicted wounds. Sam Bankman-Fried, up until a year ago considered by many the John Pierpont Morgan of crypto, is currently on trial on multiple counts of fraud that could lead to decades in prison. He has pleaded not guilty.

ETF mania unleashed

STANDING against that, in part, is what crypto enthusiasts themselves would call FOMO, or fear of missing out. Even after the devastating “crypto winter” that started in late 2021, digital tokens have a total market cap of roughly $1.3 trillion. Bitcoin has more than doubled in value this year, handily outperforming stocks. DWS signed a deal in April with crypto fund manager Galaxy Digital Holdings Ltd. to develop a suite of ETFs for the European market. The launch in coming months will build on the momentum generated by the wider crypto ETF mania, which has sent Bitcoin to the highest since May 2022. In addition to developing crypto ETFs for retail buyers, the DWS Fintech Fund has an expanded mandate to buy crypto. DWS, majority owned by Deutsche Bank, oversees €859 billion ($908 billion) in assets. Grayscale Investments LLC’s bid to convert its Bitcoin trust into an ETF notched a major win in August when a court overruled initial objections from the US Securities and Exchange Commission. Crypto investment products such as Bitcoin futures ETFs saw the largest single week of inflows last week since July 2022, according to asset manager CoinShares. Bloomberg News

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Friday, November 3, 2023 • Editor: Gerard S. Ramos

BusinessMirror

www.businessmirror.com.ph

TODAY’S HOROSCOPE

CLOCKWISE: Vacationers remember their dead by pitching candles in front a Marian image at the Our Lady of the Most Holy Rosary in Boracay (2014); Halloween at the Portobello Market in London (2015); and, Mama, hamming it up as a witch on a long-ago family trip to Subic.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Elizabeth Smart, 36; Gemma Ward, 36; Colin Kaepernick, 36; Dolph Lundgren, 66. HAPPY BIRTHDAY: You’ll score big this year by focusing on what’s important. Leave nothing to chance or up to someone else, and you’ll gain respect and the momentum you require to go above and beyond your goal. Don’t let any opportunity go by the wayside. It’s your turn to explore the possibilities and to utilize your skills and expertise to get ahead personally and professionally. Your numbers are 5, 16, 24, 28, 33, 42, 47.

ARIES (March 21-April 19): Let go of what isn’t working and embrace what excites you. It’s time to eliminate stress and focus on what makes you happy. Engage in learning new skills and fine-tuning how you present yourself to the world. Please yourself and sport a new look. ★★

TAURUS (April 20-May 20): Pave the way for new beginnings by eliminating unfinished business. Reach out to those who can speed up the process, and you’ll receive help discovering what you want to do next. A social event will lead to unexpected prospects. Romance is favored. ★★★★

GEMINI (May 21-June 20): Stick to what you do best. Don’t put your health or reputation in jeopardy. Be a good listener, but refrain from sharing personal information. Your attentiveness will buy you respect and input that helps you decide your next move. Don’t make promises you won’t fulfill. ★★★

Days of the dead T

HANKS to the magic of Facebook (LOL!), I was reminded of past experiences celebrating Halloween, and remembering our family’s dearly departed during All Saints’ Day and All Souls’ Day. As a child growing up in the 1970s, our family usually visited our dead relatives during October 31...after dinner. So you can imagine the La Loma Cemetery would still be bathed in the dark, save for the main road’s lamp lights, although the backto-back (or top on top) tombs and markers would somewhat stand out as they were already newly painted in a watered-down white. Of course, those with the large family mausoleums already had their own spaces well-lit with a few having pitched tarpaulin tents at their extended seating area, in preparation for the arrival of visitors in the following days. These were the ones who would be feasting or playing mahjong, as they remembered dead relatives. (Pong! Exclaimed dead Lolo, who would join them in spirit as they reviewed their tiles.) Most of the dead relatives interred in our family nitso I’ve never met—like my great grandfather, a painter, and my great grandmother, a housewife, who never learned Filipino, I am told, as she was more comfortable speaking in her native Chavacano (creolebased Spanish) having been born in Cavite City. (From her, we inherited a recipe for Bacalao, now cooked by sister and me—with some tweaks). The tombs in La Loma, as I said, were built so close to each other that there really was no place to sit. So I was either standing up the entire time my parents would be praying the rosary, or snuck some

time sitting on a neighboring dead’s tomb before standing up quickly whenever Mama glanced my way. (Come on, a six-year-old’s legs aren’t built to stand for extended periods of time. I’m not a flamingo!) After the parents had prayed, they would light up—Mama had her Philip Morris or Benson & Hedges (if she happened to have visited Dau, Pampanga, then the haven of imported PX goods), and Papa, his Marlboro reds. In between puffs, they’d discuss how the caretaker could better improve his service in tending to the tombs, or some other inconsequential topic, while I would try to see how far away I could get from the adults (while keeping them still in my line of sight), as I walked around the neighboring tombs, trying not to step on them. But as soon as it rained, which it often did during Hallow’s Eve, we would all clamber back in the car and drive home. As we grew up and got older, we found ourselves more on vacation during the days of the dead. We were usually either in Subic, where my brother-inlaw’s company used to own a house up in the hills, or in Boracay. In Subic, on the morning of the 30th, we would be at the Olongapo public market buying fresh seafood, vegetables and fruits that would be consumed by the family (which by then had already expanded with three nieces and a nephew), while the other ingredients like eggs and pasta noodles, and the usual kitchen condiments were purchased at the dutyfree stores that dotted the free port then. The main dish served at most of these Subic dinners was chicken and pork adobo, mainly because it was easy to keep without refrigeration and it fed many. I was not a fan of this adobo unless I fried it. (Of late, I’ve learned to make a no-soy sauce pork adobo with a good fat-to-meat ratio, just simmering in coconut vinegar and water to prevent drying.) So I would gravitate toward the other dishes like Big Sister’s spaghetti vongole, or whatever seafood had been grilled by her househelp. For entertainment, we would either be playing mahjong (in later years it was poker… or was it pusoy dos?), or consume large amount of alcohol—or both. Still, Papa would make sure candles were lit from morning to evening by the entrance in remembrance of our dead, which by then already included my two older brothers.

CANCER (June 21-July 22): An event will lead to exciting connections and conversations that stimulate you and refresh your soul. Your desire to join in on something new and exciting will manifest if you participate wholeheartedly instead of sitting on the sidelines. ★★★

One Undas break in 2015, I found myself over 10,000 kilometers away from home, as I was invited to cover a major travel event in London. I had a dayand-a-half free to roam its streets, so on Halloween I visited the Portobello Market which was teeming with tourists browsing the stores for antiques and vintage items. Of course, I bought a few souvenirs, including an old print of Filipinos in native attire. By the time I finished combing the stores, I was hungry for lunch and headed directly to my hotel. By evening, the TV remote had gone missing. I looked for it everywhere. I started out by removing the pillows from where I had been seated while watching the TV, and after looking through every nook and crevice, as well as under the bed, I ended the search at the room ref and safe. (I mean who knows? “Mad cow” may have affected the brain, as Denny Crane used to say.) I left a note for the room attendant so the next day, as she tidied up while I was at work, she could look for it. When I returned in the evening, the TV remote was laying on top of the desk. I later had the chance to ask the attendant where she found it, and she showed me, rather excitedly, that it was under the sofa pillows! Yes, the same pillows I had removed when I first launched the Big Search. Whut? Go figure...but since, then I’ve never gone home directly if I visited the cemetery, a wake, vintage stores, or any other place where dead spirits could be lurking. (By the way, that was my second haunting in a UK hotel so...boo!) While I wasn’t able to light any candles for the dead that time—I was pretty sure the smoke alarm would alert hotel security, who I imagined would’ve broken down the door to snuff out the fire hazard!—I went to bed each night praying the rosary to remember family members who had passed. By then, Mama and Papa had already passed, and despite the heartache of losing one’s parents, I am cheered by the memories of the two teasing each other while watching TV, or sitting on the porch puffing away as they watched neighborhood kids making mayhem at the playground. These days of the dead, as we mourn our loved ones, let us hopefully remember them not in grief, but in celebration of the remarkable lives they’ve lived. ■

LEO (July 23-Aug. 22): Take a moment to digest everything you hear and see before engaging in a conversation that will likely end with a negative response. You owe it to yourself to concentrate on what’s meaningful to you. Perfect your plans to ensure success. ★★★

VIRGO (Aug. 23-Sept. 22): Set high standards that will meet expectations. You’ve got what it takes to go the distance; don’t dwell on the past or let insecurity hold you back. Engage in talks; you’ll mesmerize someone with your vision and clarity. Love is blooming. ★★★★

LIBRA (Sept. 23-Oct. 22): Stop procrastinating and start rolling. Take the initiative, finish what you start and take responsibility for your actions and happiness. Refuse to let someone else take over or make you look bad. Be proud, do what you do best and enjoy the benefits. ★★

SCORPIO (Oct. 23-Nov. 21): Networking events will take you to a higher level. You’ll come face to face with people who stimulate your mind and motivate you to diversify. Creativity will enhance whatever you pursue, and discipline and drive will help you reach your objective. Romance is favored. ★★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Go over important papers, and update documents that are coming due. Don’t rely on others to do things to your specifications. The time spent on updates will put your mind at ease and give you a better sense of what you can afford. ★★★

CAPRICORN (Dec. 22-Jan. 19): Put your energy where it counts. You’ve got what it takes to reach whatever goal you set. Dream big and use your imagination to create something that makes a difference to you and those you love. ★★★

AQUARIUS (Jan. 20-Feb. 18): Keep your thoughts and feelings to yourself until you complete the details. Keep anyone prying at a distance until you investigate the time and cost of reaching your target. Say no to temptation, and avoid unnecessary expenses. ★★★

PISCES (Feb. 19-March 20): A joint venture looks promising. Head down memory lane and you’ll remember someone or something you want to pursue. Put out feelers, create opportunities and attend events conducive to reaching something you desire. ★★★★★ BIRTHDAY BABY: You are insightful, ambitious and knowledgeable. You are gifted and passionate.

‘would they?’ BY JOSH M. KAUFMANN

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit ACROSS 1 Resist, like gravity 5 Most comedians named Jimmy didn’t 5-Down, but... 11 Cute ___ button 14 Balm that’s 75 percent vowels 15 Long black vehicle 16 “Gosh!” 17 “Big Mouth” girl voiced by Nick Kroll 18 Female spider’s pouch 19 “___ habits die hard” 20 Tattoo liquids 21 Not trans 22 Helpful 24 “Shameful!” sounds 26 Film noir hats 28 Greet someone wordlessly 31 Duck found backward in “ingredients” 32 Showed off one’s muscles 33 Most politicians named Al wouldn’t partake in 23-Down, but... 36 “That’s gotta ___!” 37 Eldest HS students 38 Pirates’ yeses 40 Most late-night hosts named Bill

wouldn’t consume 4-Down, but... 43 Gene mutation 45 Prepare to photograph 46 Pamper 47 Farm vehicle 50 “Hamilton” opening 51 Car rental brand 52 Full theater initials 53 AccuStrike blaster brand 57 The Used genre 58 More expansive 61 Personal hero 62 Sit back? 63 “I’ll turn this car ___!” 64 Clownfish of film 65 Body spray brand 66 Most actresses named Kathryn don’t drive 43-Down, but... 67 Nibble like a mouse DOWN 1 Artsy Salvador 2 North Carolina college 3 Woody Guthrie genre 4 Flavor enhancer in many canned soups

5 Verify a clubber’s age 6 Protection, or Zeus’s shield 7 Dishcloths 8 Rx prescribers 9 Spanish for “that” 10 Cryptographer’s device 11 Love, in Le Havre 12 Dip...or dance that involves dipping 13 Alpamayo’s mountain range 23 Upscale eating experience 25 ___ Kills Monsters (play) 26 Verizon offering 27 www.cornell.___ 28 Remote business: Abbr. 29 Many a univ. donor 30 ___ Bradley (handbag brand) 31 White heron 34 Gazed at 35 Rat (on) 37 Part of the Converse logo 39 “Get it?” 41 Bar ___ (Jewish rite) 42 Texter’s “I think...” 43 Certain midsize sedans 44 Place to park

47 Letter after eta 48 DJ’s version of a song 49 Got up 50 Gladiator’s venue 52 Sexy guy 54 Actress Espinosa 55 Capitale d’Italia 56 ___ of traffic 59 Not likely to catch feelings, briefly 60 Hercules, to Jupiter Solution to today’s puzzle:

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Editor: Gerard S. Ramos • Friday, November 3, 2023

Critical Choices: Gawad Urian Nominees for 2023 and Ma-an L. Asuncion-Dagñalan, the latter writing the screenplay with Siege Ledesma. The Gawad Urian, which remains to be the most coveted film prize in the Philippine film industry, is handed out by the Manunuri ng Pelikulang Pilipino. The nominees for this year’s awards are:

Robert De Niro lashes out at former assistant who sued him, shouting: ‘Shame on you!’

NEW YORK—Actor Robert De Niro shouted “Shame on you!” as he testified on Tuesday in a New York courtroom, directing the comments toward his former executive assistant and vice president who seeks millions of dollars after accusing her onetime boss of being abusive. Graham Chase Robinson watched with her lawyers while De Niro’s anger built as attorney Andrew Macurdy pelted him with some tabloid-style accusations his client made about De Niro’s behavior toward Robinson as she served his needs, large and small, from 2008 until several months into 2019. Robinson, 41, seeks $12 million in damages for emotional distress and reputational harm that she claims has left her jobless and unable to recover from the trauma of working for De Niro. She was making $300,000 annually when she quit, frustrated by her interactions with De Niro’s girlfriend and the effect she believed the girlfriend was having on the actor. The jury is also considering evidence pertaining to a lawsuit De Niro filed against Robinson in which he claimed that she stole things from him, including 5 million points that could be used for airline flights. De Niro is seeking the return of three years of Robinson’s salary. Macurdy asked De Niro whether it was true that he sometimes urinated as he spoke with Robinson on the telephone. “That’s nonsense,” De Niro answered. “You got us all here for this?” Macurdy told De Niro he called Robinson “b—— to her face.” “I was never abusive, ever,” the actor snapped back, though he conceded that he might have used the word in conversations with her. And the claim that he told Robinson he preferred that she scratch his back rather than using a back scratching device drew another angry rebuke from De Niro, who said it might have happened once or twice, but “never was with disrespect or lewdness.” Finally, he angrily looked toward Robinson and shouted: “Shame on you, Chase Robinson!” Quickly, he blurted an apology in a quieter voice, as he glanced toward Judge Lewis J. Liman. The actor admitted that there were no written rules for those who worked for him because, he said, he relied on the “rules of common sense.” He said he promoted Robinson with the title of vice president of his company, Canal Productions, at her request but he added that her duties didn’t change. At times, De Niro would flatly deny something, only to later admit that there might be truth to it in a manner different than how it was suggested. Asked if he once yelled at Robinson when she was in Europe and had failed to call and remind him of an important meeting in California, De Niro answered that he hadn’t, only to quickly add: “I raised my voice.” “I got angry that one time,” he said. “I berated her. I wasn’t abusive. I was upset.” “You called her a brat,” Macurdy said. “I could have,” De Niro answered. Sometimes, De Niro sounded like he wanted to leave the witness stand. “I don’t have time for this,” he said at one point. He rejected Macurdy’s suggestion that he sued Robinson before she sued him because he wanted publicity. “It draws attention to me. It’s the last thing I wanted to do,” De Niro said. De Niro, 80, has won two Oscars in a six-decade movie career that has featured memorable roles in films including The Deer Hunter and Raging Bull. Currently, he is in Martin Scorsese’s Killers of the Flower Moon. AP

46th GAWAD URIAN NOMINATIONS 2023

group of teenagers in a rock band, nabbed for drug possession, are brought into a “Blue Room” to confront their own notions of self, privilege and freedom; a story of a retired filmmaker who falls into a coma and receives the ultimate gifts from cinema—reality and artifice—and a promise to become the next hero in her own story; pregnancy is discovered by this 40-year-old single woman after she breaks up with her boyfriend and now her question is: shall I be a mother or not?; and a monumental narrative about destiny where two men await their confrontation in a space where death and time are mystical characters seemingly without authors—these are the stories of the four films competing for the category Best Film in the 46th Gawad Urian. The four films are: Blue Room, Leonor Will Never Die, 12 Weeks, and Kapag Wala Nang Mga Alon (When the Waves are Gone). Leonor Will Never Die leads with 10 nominations, followed by Kapag Wala na ang Mga Alon with nine. Running close is Blue Room with eight, and Nocebo with seven. Of these four nominated films, three are directed by women filmmakers: Ma-an L. Asuncion-Dagñalan, Blue Room; Martika Ramirez Escobar, Leonor Will Never Die; and, Anna Isabelle Matutina, 12 Weeks. The fourth nominated film is helmed by Lav Diaz. The three women directors are also nominated for Best Director. Given how the Manunuri, the critics behind the Gawad Urian, have always been singular in their choices—unpredictable as well to many admirers and ctitics—the nominees for one of the most awaited categories—the Best Actress—are stellar in their independence and acting grit. And there are only four of them. They are Max Eigenmann, 12 Weeks; Chai Fonacier, Nocebo; Shiela Francisco, Leonor Will Never Die; and, Nadine Lustre, Deleter. Lustre has won a Gawad Urian Best Actress for Antoinette Jadaone’s Never Not Love You in 2019. In the Best Actor category, John Lloyd Cruz is back in a Lav Diaz film. Baron Geisler, in a sense, makes a comeback in the film Doll House. Noel Trinidad becomes a rarity—a senior actor in a lead role from the film Family Matters. A mother-and-daughter presence is notable in this year’s nominees: Max Eigenmann for Best Actress and Bing Pimentel for Best Supporting Actress in 12 Weeks (in this film, another actress has been nominated for a supporting role, Claudia Enriquez). The Best Supporting Actor field is cool with two, in a sense, “new” actors: JK Labajo, Blue Room, and Rocky Salumbides, Leonor Will Never Die, slugging it out with the “tested” Gawad Urian winners: Soliman Cruz (Best Supporting Actor for Raymond Red’s Himpapawid in 2010) and Dido dela Paz (2018’s Best Supporting Actor for Respeto). Ronnie Lazaro, with several nominations to his name and Best Actor for Richard Somes’ Yanggaw in 2009. Filmmakers write their own materials. This is the case with Lav Diaz, Martika Ramirez Escobar, and

FILM n Blue Room n Leonor Will Never Die n 12 Weeks n Kapag Wala Nang Mga Alon DIRECTOR n Ma-an L. Asuncion-Dagñalan, Blue Room n Lav Diaz, Kapag Wala Nang Mga Alon n Martika Ramirez Escobar, Leonor Will Never Die n Anna Isabelle Matutina, 12 Weeks n Carlo Obispo, The Baseball Player n Mikhail Red, Deleter ACTRESS n Max Eigenmann, 12 Weeks n Chai Fonacier, Nocebo n Shiela Francisco, Leonor Will Never Die n Nadine Lustre, Deleter ACTOR n Tommy Alejandrino, The Baseball Player n John Lloyd Cruz, Kapag Wala Nang Mga Alon n Baron Geisler, Doll House n Andrew Ramsey, Ginhawa n Noel Trinidad, Family Matters SUPPORTING ACTRESS n Shamaine Centenera, Kapag Wala Nang Mga Alon n Claudia Enriquez, 12 Weeks n Bing Pimentel, 12 Weeks n Nikki Valdez, Family Matters SUPPORTING ACTOR n Soliman Cruz, Blue Room n Dido dela Paz, Ginhawa n JK Labajo, Blue Room n Ronnie Lazaro, Kapag Wala Nang Mga Alon n Rocky Salumbides, Leonor Will Never Die SCREENPLAY n Lav Diaz, Kapag Wala Nang Mga Alon n Martika Ramirez Escobar, Leonor Will Never Die n Jason Gray and Chie Hayakawa, Plan 75 n Siege Ledesma and Ma-an L. Asuncion-Dagñalan, Blue Room n Anna Isabelle Matutina, 12 Weeks n Garret Shanley, Nocebo CINEMATOGRAPHY n Neil Daza, Blue Room n Ian Alexander Guevara, Deleter n Jakuub Kijowski and Radek Ladczuk, Nocebo n Larry Manda, Kapag Wala Nang Mga Alon n Carlos Mauricio, Leonor Will Never Die n Hideho Urata, Plan 75 EDITING n Lawrence Ang, Leonor Will Never Die n Tony Cranstoun, Nocebo n Vanessa de Leon, Blue Room n Zig Dulay, The Baseball Player n Goncalo Ferreira, Kapag Wala Nang Mga Alon

n Nikolas Red, Deleter PRODUCTION DESIGN n Lav Diaz, Kapag Wala Nang Mga Alon n Marxie Maolen Fadul, Blue Room n Eero Yves Francisco, Leonor Will Never Die n Benjamin Padero, Nocebo MUSIC n Mikey Amistoso and Jazz Nicolas, Blue Room n Alyana Cabral, Pan de Coco, Joseph Salcedo, Leonor Will Never Die n Jose Buencamino, Nocebo SOUND n Kristian Eidnes Andersen, Nocebo n Armand de Guzman, Deleter n Corrine de San Jose, Leonor Will Never Die n Jannina Mikaela Minglanilla and Michael Keanu Cruz, Blue Room n Alex Tomboc, The Baseball Player n Wildsound Studios, Ginhawa n Wildsound Studios, Nang Nanahimik ang Gabi

Ruru Madrid returns to primetime as ‘Black Rider’ on November 6 THIS November 6, prepare to be blown away as Ruru Madrid returns via GMA Network’s action-packed Filipino drama series Black Rider. Black Rider is the latest primetime offering from GMA Public Affairs. This action-packed series weaves together elements of heroism, revenge, justice and family drama in a compelling narrative on a cinematic scale. Joining Ruru in Black Rider are Matteo Guidicelli, Yassi Pressman and Katrina Halili, with the special participation of Kylie Padilla. Ruru plays Elias Guerrero, a motorcycle driver for the delivery app Biyahero. He soon embraces another personality as “Black Rider,” a vigilante who will fight the notorious syndicate Golden Scorpion. The homegrown GMA actor, known for his passion for doing his own stunts, has trained intensively for hand combat, motocross, and martial arts designed for the fight choreography of Black Rider. He considers the show to be a dream project come true. “Excited na po ako na ibahagi sa inyo ang Black Rider— ang latest primetime offering ng GMA Public Affairs kung saan pinagsama-sama ang mga artista mula sa iba’t ibang henerasyon. Isang karangalan na makasama ko ang mga tinitingala kong artista sa napakalaking proyektong ito. Maraming salamat, GMA Network, GMA Public Affairs, at Sparkle GMA Artist Center sa pagtupad sa aking pangarap na makagawa ng isang full action series. Ipinapangako ko sa inyo

na ibubuhos ko ang lahat para sa programa na ito,” shares Ruru. Meanwhile, Black Rider serves as Matteo’s biggest project yet after returning to the network. “It’s a very nice feeling to get back working on the craft again,” says Matteo, who plays Paeng Policarpio, a courageous police officer who shares a deep bond with Elias. Yassi Pressman, who plays Vanessa “Bane” Bartolome in the series, is also returning to series TV and GMA. Bane is a petty thief whose life becomes intertwined with Elias. She also has a dark past with the Golden Scorpion. Yassi is grateful for the chance to work with the GMA again. “It’s nice that everybody is kind, everybody is still warm. Pagdating din sa set namin, ang warm din ng mga tao,” shares Yassi, who adds that she is excited to show the “badass” side of her character. Another homegrown GMA actress, Katrina Halili, portrays Rona Marie Ana “Romana” Tolentino in the series, a vigilante who fights alongside Elias against the Golden Scorpion. “I am happy and excited to return to primetime and this time, for a full action drama series alongside great actors,” says Katrina who is expected to show off her fierce action skills in the series. “Nag-train po kami para sa aming mga karakters sa seryeng ito kaya naman sana po ay suportahan ninyo ang Black Rider.” Black Rider features an ensemble of young and seasoned actors, including action stars Zoren Legaspi, Raymart Santiago, Gary Estrada, Raymond

RURU MADRID

yassi pressman

Bagatsing, Isko Moreno, Monsour del Rosario and Roi Vinzon; as well as veteran actors Rio Locsin, Gladys Reyes, Maureen Larrazabal and Almira Muhlach. Sharing Elias’s motorcycle skills but driven by ambition and a thirst for power within Golden Scorpion is Calvin Magallanes, played by Jon Lucas. Joining Elias as Biyaheros are Empoy Marquez, Janus del Prado, and Rainier Castillo. Set to make Elias’ life miserable are the Golden Scorpion Boys: Joem Bascon, Dustin Yu, Joaquin Manansala, Kim Perez, Vance

MATTEO GUIDICELLI

Larena, and Saviour Ramos. Also in the cast are Empoy Marquez and Jayson Gainza, as well as Shanti Dope, Pipay and Ashley Rivera, drag queen Turing, Sparkle artists Prince Clemente and Mariel Pamintuan, and young love team Ashley Sarmiento and Marco Masa. Black Rider is helmed by Erwin Tagle, Rommel Penesa (Lolong) and Richard Arellano. Catch the world premiere of Black Rider this November 6, 8 pm, on GMA, with simulcast airing on Pinoy Hits and livestreaming via Kapuso Stream, and delayed telecast on GTV at 9:40 pm. Global Pinoys can watch it on GMA Pinoy TV.

Friday, November 3, 2023

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DOUBLEDRAGON’S SUBSIDIARY HOTEL101 GLOBAL COMPLETES LAND PURCHASE IN MADRID, SPAIN

AN artist’s perspective of Hotel101 Madrid Spain.

OUBLEDRAGON’S subsidiary Hotel101 Global received on October 31, 2023 all the pertinent executed land purchase documents and has made the full complete payment for the purchase of the 6,593

square meters of prime commercial land in Madrid Spain. Following the completion of the land purchase Hotel101 Global has taken full possession of the prime land in Valdebebas Madrid Spain,

located in Avenida Fuerzas Armadas, Valdebebas, Madrid which is surrounded by major landmark buildings and is about 3 minutes walk to the Valdebebas Train Station, fourminute walk to IFEMA convention complex, five-minute walk to Real Madrid Sports Complex, and around seven minutes to the new Madrid Barajas International Airport. Hotel101-Madrid Spain is expected to be completed in Q4 2025. Robust condotel sales revenue of about €143.3 Million Euros (P8.8 Billion Pesos) is expected to be generated from the Hotel101-Madrid project. The Golden Visa processing and advisory fee that costs about 6,000 EURO will be Free of Charge for those who will purchase three Hotel101 units in Madrid Spain from the start of the unit pre-selling until December 31, 2023 or until the units are fully sold out, whichever comes first.

ABOITIZPOWER, WALTERMART RENEW RETAIL ENERGY SUPPLY PARTNERSHIP. Aboitiz Power Corporation (AboitizPower), through its subsidiary Adventenergy Inc. (ADVENT), recently secured a long-term retail energy supply deal with WM Shopping Center Management Inc. (WMSCMI), the developer of the WalterMart community mall chain, to power 26 of its facilities spread around Luzon. The partnership between AboitizPower and WMSCMI began in 2017 when the former delivered reliable power supply to four facilities of the latter. In the following years, AboitizPower began supplying electricity to more WalterMart facilities, supporting its growth in the retail industry. In support of Open Access, AboitizPower’s retail electricity services gives its partners and customers affordable access to dependable power via tailor-fit energy solutions, power quality and efficiency audits, and other value-added services. Photo shows, from left, AboitizPower Senior Assistant Vice PresidentRetail Sales Gina Camacho-David, AboitizPower Retail First Vice President James Byron Yu, AboitizPower Senior Vice President-Commercial Business Unit Sandro Aboitiz, WMSCMI Chairman Abraham Uy, WMSCMI Vice President-Head of Corporate Engineering Ricardo Santos, and WMSCMI Vice President-Operations Engineering Walter Gabriel.

Enchanted Kingdom celebrates 28 years with Sky Wizardry Fireworks Competition Grand Finale

ENCHANTED Kingdom boasted local artistry with pyrotechnics and music through the return of the Sky Wizardry Fireworks Competition-eight years after its last spectacle-entertaining and dazzling guests for the past four Saturdays of October.

NCHANTED Kingdom, the first and only world class theme park in the Philippines, culminated its anniversary celebration with the Grand Finale of the Sky Wizardry Fireworks Competition last October 28, in Santa Rosa, Laguna. Asia’s Soul Supreme KZ Tandingan wowed the audience as the headliner for the Be Enchanted! Concert, together with dwta and dance group AXIS PH. Due to popular demand, EK brought back the Sky Wizardry Fireworks Competition eight years after its last spectacle. EK collaborated with Filipino fireworks manufacturers to showcase

their products and creativity. This year, St. Vincent Pyrotechnics Services and Trading, from Laguna, bested five other competitors, highlighting local artistry with pyrotechnics and music. “We are immensely grateful for all the support of our guests and loyal park-goers. We were pleased with the turnout and hopefully, our guests were able to create more enchanted stories with their families and loved ones.” said Nico R. Mamon, EK’s 28th Anniversary Council Chairman. It can be recalled that as part of their celebration, Enchanted Kingdom conducted various events every Saturday

for the whole month of October such as the World Teacher’s Day (October 7), the launch of the Grand Storybook Characters Parade (October 14), the Eldar’s E-Kreator Event (October 21), and EKMC Weekend Specials for their annual pass members. Mamon also shared that Enchanted Kingdom has a lot in store for its guests beyond October. “Enchanted Kingdom is already working its magic in bringing our guests an enhanced retail and dining experience with branded outlets planned for the EK Portico area, located just beside the front gate of the park. We are also preparing an enchanting holiday celebration through our Christmas Tree Lighting this coming November 26,” he added. Mamon also shared that guests should also anticipate new attractions in 2024. Lastly, Enchanted Kingdom announced that as an early Christmas gift, EK will be opening Tuesdays to Sundays starting November 21; and by December 17, the theme park will be open daily to continuously share magic and enchantment especially during the holiday season. For more information about upcoming events, visit https://www.enchantedkingdom.ph/ and EK’s official social media accounts @enchantedkingdom.ph for Facebook and Tiktok, and @ek_philippines for Twitter and Instagram.

Pioneer Adhesives graces Mining Philippines Conference 2023

HE mining industry in the Philippines is on the rebound according to a July 2023 analysis report by the Australian Trade and Investment Commission. With the metal production increase of 32 percent in 2022, the total export value for 2020 to 2022 amounted to US$18.7 billion or 8.51 percent of the country’s total exports. The current administration’s revitalization program of the mining sector is aimed at striking a balance between protecting the environment, benefiting local communities, and supporting the government’s socioeconomic agenda. This sends a welcome signal to potential investors and businesses interested in the country’s vast resources. That’s why after a three-year hiatus due to the global health pandemic, Mining Philippines staged a comeback for two days of intensive exploration, development, and utilization of minerals, all in consonance with sound economic, environmental, and social policies on September 19 to 20, 2023 at the Edsa Shangri-La Hotel. Mining Philippines 2023, the premier event for the mining industry's most significant gathering of the year, was attended by investors, government officials, and mining executives. Pioneer Adhesives, known for leading brands

THE premier event for the mining industry's most significant gathering of the year, Mining Philippine 2023 was attended by investors, government officials, and mining executives, and supported by over 61 exhibitors. Having fun at the Pioneer Adhesives booth were, from left, Diana de Guzman, Catherine Furuc, John W. Spakowski II, Cecilio Mendoza, Andrew Sanchez.

Pioneer Epoxy, Pioneer Mighty Bond, and Pioneer Elastoseal, is a wholly Filipino-owned manufacturing and distribution company of reliable industrial and household adhesives, as well as sealants, waterproofing, specialty coatings, and insulation in the country. Pioneer Adhesives’ involvement in the prestigious gathering highlights the company’s leadership in the marketplace doubled with its commitment to excellent service. Among many others, the mining convention discussed cutting-

edge technologies, sustainable practices, the latest products and technologies in mining, quarrying, and mineral processing, and brand-new ideas that would shape the future of mining. For more information and inquiries, visit Mining Philippines’ Facebook page at https://www. facebook.com/MiningPhilippines/ Pioneer Adhesives can be reached through its head office at JWS Center, 731 Aurora Blvd, New Manila, Quezon City. Or visit its website at https:// www.pioneer-adhesives.com/products/.

THE organizers of MAD Talk Padayon

‘MAD’ gathering amplifies awareness on mental health with stories, performances

N its continuing commitment to advocate for the significant role of volunteering in mental health especially among the youth, nonprofit organization I am MAD (Making A Difference) Volunteers Inc. recently gathered for its “MAD Talks Padayon” event at the Centennial Auditorium of Jose Rizal University (JRU). For the second year in a row, I am MAD teamed up with Teatro Rizal, the official performing arts organization of JRU, to stage its “Ultimate Hugot Event.” The event provided a platform for its advocates, amplifying awareness about mental health and volunteerism, framed under the theme “Nagmahal, Nasaktan, Nagvolunteer, at Padayon.” Here, personal stories and captivating performances took center stage, creating a powerful and thought-provoking experience. “We collaborated again with a university-based organization, expanding our efforts towards a younger audience, especially the students. Our objective is to provide them with a platform for hearing inspiring narratives and visual performances that can offer support for their mental well-being while simultaneously encouraging the spirit of volunteerism,” said Maco Ravanzo, co-founder and chief executive volunteer of I am MAD. Drawing a crowd of approximately 300 participants, including delegates and representatives from various school organizations, youth leaders, and young professionals, all gathering in support of the World Mental Health Day in October. Prior to the main program, participants experienced some magic from the mysterious acts and mind-reading talent of The Mentalist, Emmanuel Espiritu. Following the captivating opening performance by Teatro Rizal, who enthralled the audience with their original composition “Hala Padayon.” Miss Trans Global 2020 Mela Habijan delivered her heartfelt welcome remarks. With a message of hope and inspiration, she emphasized the importance of persevering at our own pace in the journey of life. Meanwhile, Ariane Rose Maghanoy from Philippine National Volunteer Service Coordinating Agency (PNVSCA), presented the benefits of volunteering and a range of volunteer programs and opportunities. It was followed by a compelling message concerning the current state of mental health in the Philippines by Nikki Lizarondo, Deputy Head of Communications at #MentalHealthPH. The narrative of volunteerism commenced with Christian Marx Rivero’s “Kwento ng I am MAD,” where he recounted the organization’s humble origins and the individuals who propelled it with resilience, empowerment, and inspiration over the years. Global Youth Leader and ASEAN Youth Advocates Network founder Emmanuel Mirus Ponon, shared his story of “Nagmahal,” centering on his profound love for the country that started during his involvement in the church. Conversely, children with autism advocate and creative lead of MAD Talks Padayon, Lyman Hansel Gerona, narrated his deeply moving journey on finding himself through pain in the “Nasaktan” segment

while BiDA para sa Dumagat lead convenor, Mayo Ceazar Mendoza, revisited his “Nagvolunteer” quest on discovering his true north for community service. Before each sharing session began, Teatro Rizal treated the audience to a range of performances, featuring the skit “Sa Registration Booth, Palista” written and directed by Ejay Villafania, the evocative spoken poetry with an ensemble “Bisita sa Kalaliman ng Gabi” by Armando Mansilungan and a compelling digital art story titled “Draw My Life” created by Mary Ann Rosario. After a short break, participants engaged in a lively “MAD Talk Padayon, Tumindig Ngayon” lastperson-standing game, with five fortunate winners receiving prizes courtesy of Power Mac Center. The forum then resumed with Youth Mental Health coach and co-founder of Happy Hearts Initiative and Introspect PH, Ymari Kristia Pascua, highlighting the importance of open dialogues on mental health issues and the role of a strong support system through her sharing in “Kwento ng Padayon.” Concluding the inspiring narrative segments, Ravanzo presented his talk on “Kwento ng Bawat Volunteer”which culminated in a heartwarming surprise for MAD Talks Padayon project lead, Edwin Basa. It was an unexpected and emotional moment when his mother, whom he believed could not attend, made a surprise appearance at the event. “Despite MAD Talks Padayon being not a regular event, our aspiration is to have touched and inspired individuals who will, in turn, propagate the message of hope to others, starting with our own families,” remarked Basa. For their closing performance, Teatro Rizal showcased a melodious finale, a Ruiz and Llano’s Quest theatrical medley. The event concluded with recognition and photo opportunities for the speakers and performers, followed by a community singing session, accompanied by a same-day edit video. MAD Talks Padayon was hosted by Mister Grand Philippines 2023 candidate Jesus Guinto aka Jesse G and I am MAD’s lead writer and resident podcaster Jake Villanueva (Catriona J of La Union) together with The Js of I am MAD—Minette Geñorga (Minette J-Park of Albay), Kaye Maguddayao (KJ of Laguna), and Jonald Fabia (DJ Jo of Pangasinan). The event was made possible through the help of its partners including CID Communication, #MentalHealthPH, Philippine National Volunteer Service Coordinating Agency and Youth Organization Registration Program of NYC (YORP), together with its sponsors CEMEX, Creative Adobo, Ginhawa Red-G, Motivo Philippines, Photo x Media, Power Mac Center, Print & Mount, and RiteMed. The organizers of MAD Talks Padayon have introduced a digital opinion board. If you were fortunate enough to be part of this remarkable gathering, visit bit.ly/MTPadayonWall to write your feedback. For updates, partnerships, and volunteer opportunities, follow and message I am MAD on Facebook (fb.com/IamMakingADifference) or send an email to iammadph@gmail.com.

Editor: Jun Lomibao

CRITICS fume relentlessly about Bob Knight’s conduct, but his defenders are legion. AP

Bob Knight, combustible coaching giant, dies at 83

Sports BusinessMirror

mirror_sports@yahoo.com.ph | Friday, November 3, 2023 B7

Texas Rangers capture 1st World Series crown

LOOMINGTON, Indiana— Bob Knight, the brilliant and combustible coach who won three NCAA titles at Indiana and for years was the scowling face of college basketball, has died. He was 83. Knight’s family made the announcement on social media on Wednesday night. He was hospitalized with an illness in April and had been in poor health for several years. “It is with heavy hearts that we share that Coach Bob Knight passed away at his home in Bloomington surrounded by his family,” the statement said. “We are grateful for all the thoughts and prayers, and appreciate the continued respect for our privacy as Coach requested a private family gathering, which is being honored.” Knight was among the winningest and most controversial coaches in the sport, finishing his career with 902 victories in 42 seasons at Army, Indiana and Texas Tech while mentoring some of America’s best coaches. He also coached the US Olympic team to a gold medal in 1984. The Hall of Famer cared little what others thought of him, choosing Frank Sinatra’s “My Way” to celebrate his 880th win in 2007, then the record for a Division I men’s coach. He was nicknamed “The General” and his trademark temper also cost him his job at Indiana in 2000. He once hit a police officer in Puerto Rico, threw a chair across the court and was accused of wrapping his hands around a player’s neck. Critics fumed relentlessly about his conduct, but his defenders were legion. There was this side of Knight as well: He took pride in his players’ high graduation rates, and during a rule-breaking era he never was accused of a major NCAA violation. At Indiana, he insisted his base salary not exceed that of other professors. At Texas Tech, he sometimes gave back his salary because he didn’t think he earned it. Knight expected players to exceed expectations on the court and in the classroom. He abided by NCAA rules even when he disagreed with them, never backed down from a dust-up and promised to take his old-school principles to the grave. While he was beloved by many of his players, his disposition and theatrics sometimes overshadowed his formidable record, tactical genius, innovation and dedication to and the game, leaving behind a singular resume. “He changed basketball in this state, the way you compete, the way you win,” Steve Alford, the leader of Knight’s last national championship team in 1987, once said. “It started in Indiana, but he really changed college basketball. You look at the motion offense and people everywhere used it.” Long esteemed for his strategy and often questioned for his methods, Knight reveled in constructing his best teams with overachievers. As a hard-to-please motivator, he clung to iron principles, and at 6-foot-5 was an intimidating presence for anyone who dared cross him. When Knight retired in 2008, he left with four national championships (one as a player at Ohio State) and as the Division I men’s record-holder in wins. He coached everyone from Mike Krzyzewski to Isiah Thomas to Michael Jordan. His coaching tree included Krzyzewski, who broke Knight’s wins record; Alford; Lawrence Frank, Keith Smart, Randy Wittman and Mike Woodson, Indiana’s current coach, among others. “We lost one of the greatest coaches in the history of basketball today,” Krzyzewski said. “Clearly, he was one of a kind. He recruited me, coached me, mentored me and had a profound impact on my career and in my life. This is a tremendous loss for our sport and our family is deeply saddened.” Robert Montgomery Knight was born Oct. 25, 1940, in Massillon, Ohio. His mother, whom Knight credited as his strongest childhood influence, was a schoolteacher and his father worked for the railroad. AP

AFTER five stadiums, roughly two dozen managers and 10,033 games, the Texas Rangers are finally champions. AP

HOENIX—Corey Seager took a mighty hack and barely connected, sending a dribbler through an open area on the left side of the infield for his team’s first hit in the seventh inning. The Texas Rangers shortstop and World Series MVP provided plenty of power throughout a stellar October run. But it was a little good fortune that finally sparked the offense and sent the Rangers to their first title. Considering the heartache this club went through 12 years ago in one of the all-time Fall Classic gut punches, Texas was certainly due. Nathan Eovaldi pitched six gritty innings, Mitch Garver broke a scoreless tie with an RBI single in the seventh and the Rangers won the first World Series championship in their 63-season franchise history by beating the Arizona Diamondbacks, 5-0, in Game 5 on

Wednesday night. Marcus Semien homered in a four-run ninth and the Rangers, held hitless for six innings by Zac Gallen, finished a record 11-0 on the road this postseason after capping the Fall Classic with three straight wins in the desert. “Everything I’ve ever worked for is for this moment,” Semien said. “Gallen was unbelievable tonight. But we came through. Once Corey got the first hit, everybody kind of woke up. Pitching was unbelievable.” In his first season with Texas, manager Bruce Bochy won his fourth title 13 years to the day after his first, which came in 2010 when the Giants beat the Rangers. He also won rings with San Francisco in 2012 and 2014. “I was sitting in a recliner there in Nashville, just enjoying myself,” said the 68-year-old Bochy, who came out of retirement to take over the Rangers.

Bochy helped exorcise some unpleasant memories for Texas fans, who watched as their team came agonizingly close to a title in 2011, needing just one strike on two occasions before losing to the St. Louis Cardinals. One night after the Rangers built a 10-run lead by the third inning in Game 4, they finished off baseball’s third all-wild card World Series by outlasting Arizona in a white-knuckle pitchers’ duel. Gallen carried a no-hitter into the seventh before giving up an opposite-field single to Seager, whose weak grounder found a hole. Rangers rookie Evan Carter—all of 21 years old—followed with a double. Garver then delivered the first run, pumping his fist as a hard grounder up the middle scored Seager. Garver was 1 for 17 at the plate in the Series before his huge hit. With the Rangers clinging to that 1-0 lead, Josh Jung and Nathaniel

Lowe singled off Paul Sewald to start the ninth. Jung scored on Jonah Heim’s single, and Lowe came all the way around from first base when center fielder Alek Thomas let the ball get past him for an error. Two outs later, Semien’s two-run homer made it 5-0. It was the 13th time Texas scored at least three runs in an inning this postseason. Meanwhile on the mound, Eovaldi wriggled out of trouble all night before Aroldis Chapman and Josh Sborz finished it. “I kind of joked around: I don’t know how many rabbits I have in my hat,” said Eovaldi, who improved to 5-0 with a 2.95 ERA this postseason. “I didn’t really do a great job tonight in attacking the zone. But our defense, incredible again.” Sborz struck out four in 2 1/3 innings of one-hit relief for his first postseason save. He threw a called third strike past Ketel Marte for

HD legacy - weightlifting academy – rises in Jala-Jala O

By Josef Ramos

N Sunday, Hidilyn DiazNaranjo breaks ground for her HD Weightlifting Academy in Jala-Jala, a legacy she dreams that someday would mold many more of her kind—an Olympic gold medalist. “Giving back, yes, I have to give back to the community what I have learned,” Diaz-Naranjo told BusinessMirror on Thursday. “This is very significant for me because it’s the start of something we are doing or the beginning of what we are trying to achieve.” Her dream academy is a 108-square meter one-storey bungalow-type edifice that would sit at the center of her and husband Julius Naranjo’s 7,000 square meter property in Sitio Mangahan in Jala-jala. The facility won’t be world class at the start but Diaz-Naranjo envisions the academy to reach that level in the years to come—the same path she took in her Olympic journey by starting as an 18-year-old wild card in Beijing 2008, gaining experience in London 2012, earning silver in

ONG KONG—Football enthusiast Gina Benjamin is not just training for victory in the upcoming Gay Games in Hong Kong, but she’s also on a mission to help push for legal reform for samesex marriage. After moving to Hong Kong from Britain in 2016, Benjamin, 33, met her true love in the semi-autonomous southern Chinese city. But local laws, recognizing only heterosexual marriages, forced the couple to travel to the British Embassy in Vietnam to get married in August. Their inability to marry in the city where their love story unfolded left her frustrated. This weekend the drama teacher along with diverse teams of male, female and transgender players will take to the pitch with what she calls “a big purpose.” She hopes participation

HIDILYN DIAZ-NARANJO envisions the academy to produce Olympic champions like her. Rio 2016 and finally striking gold in Tokyo 2020 (2021). “This is just an ‘outreach gym’ for the meantime. World class? Next time maybe,” she said. “We just have to address what the Jala-jala

athletes need, and, of course, for me and Rosegie [Ramos] for our Paris Olympics campaign.” Ramos is the Naranjos’ 19-yearold protégé they hope would also qualify for Paris.

The academy will have four platforms where eight athletes could train at the same time. “The three platforms can accommodate 24 athletes simultaneously in two-hour sessions while the fourth platform is for resting,” she said. About P8 million worth of Spart weightlifting equipment will be available in the academy designed by Architects Jocelyn Francisco, UAP, and Jose Miranda, UAP, and Frank Urcia. Julius Naranjo will be the chief coach and trainer of the academy, which actually has informally started operating with the couple already having a pool of about a dozen JalaJala youngsters aged five to 17. “Right now, we are training in the garage and inside the house and in a temporary gym,” she said. The groundbreaking ceremony would be simple, according to DiazNaranjo, adding they’re hoping for sponsors to help grow the academy. “But we intend to also be a nongovernment advocate organization someday to sustain and support the

Asia’s 1st Gay Games kick off in Hong Kong in the games can show the government the city’s strong support for equal rights for same-sex couples. “We’re playing to possibly change laws,” she said. Set to begin on Friday, the first Gay Games in Asia are fostering hopes for wider LGBTQ+ inclusion in the regional financial hub, following recent court wins in favor of equality for same-sex couples and transgender people. After a year’s delay due to the pandemic, the nine-day event will host about 2,400 participants from some 40 territories. They will compete in a range of games, from tennis and swimming to culturally rich activities like dragon

boat racing and mahjong. Lisa Lam, co-chair of the Gay Games, said LGBTQ+ acceptance in Asia is still lower than in the rest of the world and that it’s important to make sexual minorities visible in

the community. “Biases come from misunderstanding or stereotypes,” Lam said. “Bringing different people together, you are able to break down stereotypes.” But organizers have faced various

MEMBERS of the Happy Valley team train ahead of the Gay Games in Hong Kong. AP

the final out, and jubilant Texas players rushed toward the mound to celebrate after becoming the first team to win a World Series game despite having no hits or runs through six innings. It’s the first title for the Rangers, whose history dates back to 1961 when they were the expansion Washington Senators. They moved to Texas for the 1972 season. Now, after five stadiums, roughly two dozen managers and 10,033 games, the Rangers are finally champions. It didn’t come easy—at all. Texas led the AL West for most of the year, but coughed up the division crown on the final day of the regular season to rival Houston. The Rangers weathered an early season-ending injury to new ace Jacob deGrom and a significant one to Seager in April as well before red-hot slugger Adolis García and three-time Cy Young Award winner Max Scherzer went down in Game 3 of the World Series. Yet still, players like tradedeadline acquisition Jordan Montgomery, replacement closer José Leclerc and backup outfielder Travis Jankowski picked up the slack throughout for these resilient Rangers, capping a quick and impressive turnaround under general manager Chris Young after Texas lost 102 games in 2021 and went 68-94 last year for its sixth consecutive losing season. A disheartening 1-0 defeat in the regular-season finale at Seattle left the Rangers with the No. 5 seed in the American League playoffs and sent them across the country to open the postseason at Tampa Bay, part of a two-week trip that took them to four cities—two on each coast. But after sweeping the Rays and AL East champion Orioles, the AL’s two winningest teams, Texas got its revenge against 2022 World Series champion Houston, winning a hard-fought AL Championship Series in which the road team won all seven games. That propelled the Rangers to their first Fall Classic in 12 years. Once there, they became the first team to win the World Series without committing an error since the 1966 Baltimore Orioles. AP academy,” she said. Diaz-Naranjo bared that young and aspiring weightlifters have been seeking her for training and coaching. “Everyday kids who want to train come along,” she said. “But not everyone is able to survive the training, especially about discipline and commitment,” she said. “No extra-curricular activities and vices.” But staying in school is a priority for aspirants, she stressed. “Going to school is a requirement, sometimes we are providing scholarships so that they become good citizens as they balance their studies and sports,” said Diaz-Naranjo, who fulfilled her other dream, a degree in Business Management she earned from the College of Saint Benilde. “At the moment, I have three relatives and one from the Aeta community [in Jala-Jala] who are staying with us with daily meals,” Diaz-Naranjo said. “If there’s a dorm, it will be affordable and sustainable and we also intend the gym to run on solar energy so we can save on electric bills.” Diaz-Naranjo said the academy is expected to be completed by late March or early April. By then, the couple said they’ll be preparing for a grand inauguration. challenges since winning the bid to host the games in 2017. The opportunity to grow Hong Kong’s reputation as an inclusive international financial hub did not draw much support from the government. Some lawmakers have even attacked the games, with one suggesting it could pose a threat to national security. The scale of the event also falls short of the organizers’ original goals set in 2016. They had aimed to attract 15,000 participants and inject 1 billion Hong Kong dollars (US$128 million) into the economy. The Covid-19 pandemic is largely to blame for its downsize. As Hong Kong grappled with the uncertainty of when stringent quarantine rules for travelers would be eased, Guadalajara in Mexico was named as a co-host for the games. AP

Motoring BusinessMirror

Friday, November 3, 2023

Editor: Tet Andolong

Honda showcases its diverse current and future of mobility

tools to create a neo-rugged design concept with simple and clean styling. The spacious Prologue offers a spacious and techy cabin. With 21-inch wheels and a wheelbase on par with other rugged vehicles, this all-electric SUV has some sizeable capability.

Story & photos by Randy S. Peregrino

FTER the Tokyo Motor Show concluded in 2019, it was re-established as the Japan Mobility Show (JMS), promising a broader range of mobility products, services and technologies. For Honda Motor Co., Ltd., the first edition of JMS is not only about exhibiting automobiles but also diverse forms of current and future mobility, including aircraft, that the brand is pursuing. Making his major motor show debut, Director, President, and Representative Toshihiro Mibe presented the stage-themed “Honda Dream Loop.” He stated that the leitmotif was to express the future, toward which the dreams of many people will form an endless loop and continue expanding, starting from mobility products and services that embody Honda’s ideals. “We offer visitors the opportunity to experience the future mobility Honda dreams of and also to participate in creating the future mobility with us,” he added.

New Honda global brand slogan

In celebration of Honda’s 75th anniversary, Mibe pointed out how the company looked back on its history—offering a wide range of value to customers and society as a manufacturer of mobility products. “We can say that Honda has grown to this point while always being driven by ‘dreams,’ and taking on challenges to realize what was thought to be impossible,” he said. “The Power of Dreams—How We Move You.” It is Honda’s new Global Brand Slogan. The company CEO explained that it conveys the message that the dreams of everyone working at Honda have always been the driving force of the brand. Additionally, “Transcend” and “Augment” are unique Honda value propositions. Honda claims that the mobility products and services that embody their dreams will enable people to “transcend various constraints such as time and place” and to “augment their abilities and possibilities.” Meanwhile, various Honda mobility

Prelude Concept

products and technologies took center stage intending to “transcend various constraints such as time and place” and to “augment their abilities and possibilities.”

The autonomous (electric) vehicle ‘Cruise Origin’

Jointly developed by GM, Cruise and Honda and purpose-built for a driverless ride-hail service, the self-driving Cruise Origin is designed to pick up customers at a specified location and drive them to the destination. The process from hailing to payment will be done through a dedicated app on smartphones. As a self-driving vehicle with no driver’s seat or steering wheel, it features a vast cabin space that can be as private as a personally owned vehicle, allowing six people to ride simultaneously, face-to-face. This driverless ride-hail service will offer a new mobility experience in Japan and target many customers.

SUSTAINA-C Concept and Pocket Concept world premiere

Designed to enable people to transcend the constraints of limited resources, these models are made of acrylic resin that is recycled and reused. “This kind of resource circulation will enable us to transcend the constraints of the limited availability of resources and achieve both environmental sustainability and the joy and freedom of mobility long into the future,” said Mibe. He also explained that mobility products are made from various materials, including metals, resins and fabrics. “However, these materials and resources are limited. If we only use current ways of making products and recycling, there will, sooner or later, come a time when it will become difficult to sustain our production of mobility products,” Mibe added.

Honda Motor Co., Ltd. Director, President, and Representative Toshihiro Mibe with the Prelude Concept

Honda Jet and Honda eVTOL

According to Honda, when combined with mobility products on the ground, making “three-dimensional mobility” available, these mobility products in the skies will enable people to transcend the constraints of place and distance. Honda exhibited the full-size interior mockup of the HondaJet Elite II light business jet to showcase the cabin experience. In addition, Honda displayed the one-fifthsize exterior mockup of the Honda eVTOL (electrical Vertical Take Off and Landing aircraft) and its gas turbine hybrid system currently under development.

CI-MEV

Making a global premiere was the CI-MEV self-driving micro-mobility. Aimed to augment the living radius for people, this twoseater, four-wheel electric vehicle features Honda’s original Cooperative Intelligence (CI) and automated driving technologies. Also, it will offer easily accessible last-mile mobility for any user. Honda strives to augment the living radius for people, especially those in situations that limit mobility, such as when there is no public transportation or

when people experience difficulty walking a long distance.

UNI-ONE

One of the sought-after display models was the interesting hands-free seated personal mobility device. Featuring the balance control technology developed through Honda’s robotics research and the Honda Omni Traction Drive System, Honda’s original wheel mechanism moves naturally in all directions. The UNI-ONE is a mobility device the user can steer simply by shifting their body weight while sitting and moving as if they were walking. Honda claims that the UNIONE will expand opportunities for users with mobility challenges.

Prologue EV SUV

Also on display was the upcoming all-electric mid-size crossover SUV, jointly developed by Honda and General Motors. Intended for the North American market, the official launch and sale are planned for 2024. According to Honda, the design was led by a youthful, diverse team of designers in Honda Design Studio in Los Angeles, who utilized virtual reality

Toyota rock star in Japan Mobility Show

OKYO, Japan—A whole new world of a massively stunning vehicle landscape unfurled at the fabled Tokyo Big Sight (TBS) on October 26, wowing a public from all walks of life not used to gawking at concept cars leaning heavily towards the extraordinary. The future of motoring looks kind of weird to the common car buff in the event known since 1954 as the Tokyo Motor Show but is now renamed, aptly, the Japan Mobility Show. “We are not just Tokyo now, we have become Japan because we need to expand to create our future in the globalized world,” said Akio Toyoda, the Toyota Motor Corporation chairman who is in his second stint as chairman of Asia’s No. 1 motor show for 69 years. “In short, we are now from Tokyo to Japan.” The target, said Toyoda, was to lure more visitors this time even as the 2019 edition had a record crowd turnout of 1.3 million. But midway into the event ending November 5, some 4.2 million visitors have already flocked to the TBS in a record-smashing development that warmed the hearts, naturally, of the organizers keen on achieving success after the pandemic torpedoed the event in 2021. Another super inspiring shocker is, Toyoda’s leadership drew 437 exhibitors—another record-shattering mark—from 197 participants in 2019. So huge was the roster of players from a slew of car companies, start-up businesses and industrial outfits that guests trooping to the TBS daily had a haul of memories that would linger for years and years to come. Toyota, the most visited booth at the sprawling TBS, was an absolute big hit, clinging on to its reputation as the perennial rock star of the Motor Show that took almost four years

in the making. Toyota’s array of models aren’t only eye-catching but are immediately cerebral, from the tongue-twisting Kayoibako to the iconic Land Cruiser. As if on cue, electrification, carbon neutrality and a dash of AI (Artificial Intelligence) showcased Toyota’s imposing presence in the Motor Show held biennially to highlight motoring advances for the advancement of humanity. Toyota’s theme is aptly labelled, “Let’s Change the Future of Cars Find Your Future.” The Kayoibako refers to configurable shipping containers for safely transporting parts and products between facilities, designed to eliminate wastes and adopt a new compact space representing the future of mobility. Versatile and convertible, the Kayoibako can be utilized for business applications, and can be customized to meet the needs of local communities, and to create a mobile shop or additional seating to serve as a shuttle bus, or for wheelchair users, too. The future Land Cruiser on display is a three-row SUV. Quiet as a sleeping baby and with a comfortable cabin space when used in urban areas. Its monocoque body also offers highly responsive handling and confidence in tackling rough terrain. The Toyota EPU is a next-generation midsize pickup truck, with a length of 5 meters. With a double cab design, its monocoque structure also allows for a versatile deck space that caters to a broader range of user applications. It has a low center of gravity for superior handling stability and rider comfort. The Land Hopper is a three-wheeled electric personal mobility concept, with two front wheels opening up new transport possibilities. It is foldable and easy to load into the car trunk. It can be driven without a driver’s license (16

Considered as the brand’s showrunner was the comeback of the Prelude nameplate. Mibe concluded his presentation by unveiling the Prelude Concept. Donning sport coupe form, the Prelude Concept almost looked like a production model and was reported to pack a hybrid powertrain. Honda claims this upcoming sports coupe will take the “joy of driving” into the fullfledged electrified future. “Honda has always been committed to creating sporty vehicles. And the word ‘prelude’ means an ‘introductory or preceding performance.’ This model will become the prelude for our future models, which will inherit the ‘joy of driving’ into the full-fledged electrified future and embody Honda’s unalterable sports mindset. The Prelude Concept is a specialty sports model that will offer an exhilarating experience that makes you want to keep going forever and extraordinary excitement you never felt before,” said Mibe. Another model was the Avatar Robot. Featuring a multi-fingered robotic hand, which was developed while applying technologies Honda has amassed through its research into robotics, including ASIMO and the AIsupported remote-control technology, the Avatar Robot will let users perform tasks and experience things remotely as if they are there in person. One of Honda’s mobility products on display and designed to transcend the constraints was the SC e: Concept. The concept model of an electric motorcycle is designed to enable people to transcend time constraints by easily swapping the batteries and eliminating the waiting time for battery charging. There were also electric products utilizing Honda Mobile Power Pack e:. Honda claims that by storing and carrying clean, renewable energy and using the energy in various places and applications, people can transcend the constraints of limited resources and achieve both environmental sustainability and freedom of mobility and daily life. and above) and is perfect for seniors keen on giving up their licenses. The JUU is the new concept of electric wheelchair designed for unassisted travel. Its drive system employs motors used in cars. It autonomously loads itself into the rear of a car after the user has boarded the vehicle, returning to the driver’s seat when the user wants to alight. Isn’t that brilliant? The SM (Space Mobility) model is for use on the moon and in outer space. Each wheel is fitted with its own motor and steering. It is designed to tackle rugged and unforgiving extra-terrestial environments. It can navigate boulders up to 50-cm tall and climbing steep 25-degree slopes. The NEO Steer is a new cockpit concept based on motorcycle handlebars, integrating the functions of the accelerator and brake pedals into the steering wheel. This concept will help foster greater love for cars and deliver the joy and excitement of “Mobility For All.” It suits users with lower limb impairments. And what about the much-ballyhooed “Lexus Electrified VR Experience” with its mantra of “Discover a future you can’t wait to navigate?” Lexus being Toyota’s Big Brother, that calls for a future column. But wait, here’s Toyota’s twin concept models of SUV-type FT-3e and the sporty FT-Se. They present a future transformed by electrification and intelligence. Toyota said it believes that future mobility will go beyond providing physical transportation tools to becoming a lifestyle partner closely aligned with each customer’s individual values. These models offer the joy of personal ride customization and stress-free browsing of local area information while on board. As one Toyota top gun—was it Vince Socco?—put It: “Our Toyota cars in the future will have walls that can listen to the pulse of the community.” I can believe that.

PEE STOP As I have discovered in my recent trip to Tokyo, traveling abroad has practically become paperless. As validated by Toyota top exec Jing Atienza, passport and cellphone are all you need. Add patience to do QR codes. For my QRs, many thanks to Ardie Lopez, Ira Panganiban and Jade SisonMendoza. Cheers guys!