TO WAR
TBy Cai U. Ordinario @caiordinario
he National economic and Development Authority (Neda) does not expect the ongoing “political noise” to throw a monkey wrench into the country’s economic performance.
In a briefing in m a lacañang on Thursday, Socioeconomic Planning Secretary Arsenio m . B alisacan noted that for the past 12 years, the country’s economic performance was not affected by political noise. Balisacan reiterated that despite the feud between the President and Vice President, the economic team has adopted a “businessas-usual” approach and continues to focus on attaining the country’s economic and fiscal goals and targets.
“As also seen in the recent economic history is that for so long as the government stays on course, it stays within its development and economic priorities and programs, there are no deviations from these programs—the business community will continue to maintain their confidence in the economy,” Balisacan said.
By Andrea E. San Juan @andreasanjuan
AN a ggressive return to the prepandemic debt ratio of below 40 percent may be detrimental to the country’s economic growth and cause delay in structural reforms, according to the Bureau of the Treasury (BTr).
In its 2023 Annual Report, the BTr said the country’s debt-toGDP ratio has remained elevated. The current debt level, however, is lower than the historical high of 71.6 percent in 2004.
The BTr said the national government recorded a 60.1 percent debt-to-GDP ratio in 2023. This is expected to reach 60.2 percent this year.
“It should also be said that an aggressive return to the prepandemic debt-to-GDP ratio of
39.6 percent is technically and politically infeasible, as this would require a more dramatic fiscal adjustment where the NG [national government] must run consistent budgetary surpluses,” the report read.
“[This] would deprive the country of the needed public investments to take advantage of its demographic trends and structural reforms to improve its business climate,” it added.
Based on the report, the country’s debts were composed of 68.5 percent domestic debts and 31.5 percent foreign debts in 2023.
These debts, the BTr data also showed, were composed of 79.4 long term debts in 2023 or those that are expected to mature be -
yond 5 years. The rest or around 16.9 percent were composed of debts that will mature in 1 to 5 years and 3.7 percent are expected to mature within a year.
Compared to last year, the country’s long-term debts in 2023 were higher than the 74.7 percent share in 2022.
However, in terms of mediumand short-term loans in 2023, these were lower than the 22.3 percent share of medium-term loans and 3.1-percent share recorded for short-term debts.
The Philippines’s outstanding debt as a share of its overall economy climbed to 61.3 percent as of the third quarter of 2024, above the government’s target
and global benchmark as economic growth slowed during the period. Latest data from the Bureau of the Treasury (BTr) showed the latest debt-to-GDP, or the country’s debt compared against its gross domestic product, is higher than the 60.9 percent debt-to-GDP recorded in the second quarter of 2024 and last year’s 60.2 percent. This is also above the government’s full-year debt-to-GDP target of 60.6 percent, as set by the Cabinet-level Development Budget Coordination Committee (DBCC), and the international accepted threshold of 60 percent. (See: https://businessmirror.com.ph/2024/11/09/q3-debtto-gdp-ratio-of-61-3-above-target/).
ACI Worldwide an innovator in global payments technology, in partnership with The Cen
tre for e co nomics and
ness Research (Cebr). According to the report, the Philippines will join the list of top 10 countries for “financial inclusion uplift” resulting from the adoption of real-time payments. Topping the list is Pakistan as it is projected to have 63.5 million newly banked citizens by 2028. This was followed by India with 25.5 million newly banked citizens; Philippines, 20.9 million; Nigeria, 13.8 million ; China, 13.8 million;
TH e s econd term of US President-elect Donald Trump is unlikely to benefit Asean as the geopolitical context has changed much since then, according to United Kingdom-based think tank o xf ord e co nomics.
“Trump’s second presidency, unlike his first, is unlikely to benefit Asean. Together with our forecast of a slight uptick in global growth next year, Asian goods exports growth wouldn’t be spectacular in 2025,” o x ford e co nomics said in an e-mail on Thursday.
“There are few tailwinds elsewhere. Asean economies, which had benefitted significantly from Trump’s first term, are unlikely to see a repeat during his second
term as the geopolitical context has changed much since then,” it added.
Ateneo De m a nila University e conomist Leonardo Lanzona agrees with the UK-based think tank. He told the Business m i rror that the issue on Trump slapping new tariffs can hamper the economic activities of most Asean nations, which he said is more likely to happen in this administration.
“The issue is the increased tariffs that can hamper the economic activities of most Asean nations. In the first Trump administration, this was already being planned but was somewhat mitigated by the advisers who surrounded Trump at the time.
Cai U. Ordinario
Capital raising could reach ₧120B next year, says PSE
By VG Cabuag @villygc
The Philippine Stock exchange Inc. (PSe), the operator of the country’s equities market, said its capital raising activities may reach P120 billion next year, lower than its earlier estimates but higher than the amount raised this year.
PSE President and CEO Ramon S. Monzon said at the sidelines of the SEC-PSE Corporate Governance Forum said six firms will go public next year, which will raise a total of P40 billion.
He said the market has been on an uptrend but sentiment has been dampened after Donald Trump won the Unit -
Trump...
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Now, Trump has vowed that he will only choose advisers and secretaries who are loyal to him. The objective of raising higher tariffs is more likely to happen in this second administration,” Lanzona told the B usiness M irror in a Viber message on Thursday.
Former Tariff Commissioner George Man -
ed States elections.
“This year we reached P79 billion in capital raising. Next year, I think we can do about P120 billion.”
Last month, Monzon said the PSE could raise P150 billion in 2025.
Capital raising activities done through the PSE include initial public
zano, however, said the tariff threats Trump raised could only be a “negotiating tactic.”
“We do not know yet the specific trade policies that President Trump might implement if he takes office in 2025. The tariff threats he raised could be a negotiating tactic,” Manzano told the B usiness M irror in a Viber message on Thursday.
Oxford Economics earlier said Trump floated the possibility of imposing tariffs of 60 percent or more on Chinese goods and also suggested
offerings (IPOs), follow-on offerings, stock rights offerings and private placements of common and preferred shares.
Monzon said there is uncertainty in the market now because of certain policies that Trump intends to implement that will affect the Philippines.
“He’s got two very clear policies. The first is to deport the illegal immigrants.
Since there are a few Filipino immigrants, if you do massive deportation, this will result in a drop in remittances which is a very important stabilizing factor for the economy.”
Meanwhile, Trump’s plan to penalize American companies that do business outside of the US borders will affect the country’s IT-BPM industry which has about 1.9 million employees.
“So we have uncertainties because we still don’t know what will happen.”
a blanket 10 percent tariff on all US imports.
Should these tariffs be enacted, however, Manzano said Asean exports to the US could be affected under “certain conditions.”
“If other major trade players, such as China, retaliate with tariffs of their own, heightened protectionism could slow global trade and disrupt supply chains,” he said.
As an integral part of many supply chains, Manzano said Asean may “inadvertently suffer from these disruptions.”
The PSE had targeted six IPOs for 2024 but only three managed to push through with their plans amid challenging market conditions—OceanaGold (Philippines) Inc., Citicore Renewable Energy Corp. and NexGen Energy Corp.
The fourth IPO, that of Cebubased fuel retailer Top Line Business Development Corp., has been postponed to next year after the local stock market fell following Trump’s victory.
Some of the highly anticipated IPOs next year include the real estate investment trust of SM Prime Holdings Inc., Razon’s Prime Infrastructure Capital Inc., electronic wallet operator GCash and west zone concessionaire Maynilad Water Services Inc.
Another scenario which Manzano highlighted is if the US imposes strict rules on the value-added content of Asean exports.
“There may be limits on the percentage of Chinese inputs allowed in goods exported from Asean to the US,” said Manzano.
If Trump doubles down on his “America First” policies, this would reduce US engagement in global trade and investments.
“This could weaken trade and investment flows between the US and Asean countries,” Manzano said.
However, the former chief of the Tariff Commission said there is still “room for optimism.”
“Businesses and international investors might revisit the ‘China +1’ strategy, diversifying production and investments to include Asean countries as friendlier host economies,” he said.
“Just as during Trump’s first term, Asean could stand to benefit from the spillover of investments moving out of China and into the region.”
Latest data from the Philippine Statistics Authority (PSA) showed that the United States is the Philippines’s top export destination.
Outbound shipments to the US in the January to September 2024 amounted to $9.18 billion. This is 7.8 percent higher than the $8.52 billion in export receipts recorded last year.
In contrast, PSA data indicated that People’s Republic of China is the Philippines’s top source of goods where it bought $24.30 billion worth of items in January to September. The figure is 11.5 percent higher than last year’s $21.79 billion. Andrea E. San Juan
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“We just know bamboo of being used mainly for furniture but in some countries in Europe it has been used as additional materials for airplanes, and in China, there was a study to make it as alternative in drainage pipes, after finding out that bamboo is much sturdy than galvanized iron or even plastic pipes,” he said.
Solidum said the DOST has already established the Niche Centers in the Regions (Nicer) for bamboo, which compiles all information about bamboo. Alba said that the Nicer has informed him that Bukidnon has as big as 18,000 hectares planted with bamboo.
“This is good for the Philippines and our province because of the many uses of bamboo and potential for income,” he said, adding that one pole could be used to make a guitar.
“If we can fully tap bamboo to replace wood, then we can protect our forests because people would now be looking for bamboo rather than lumber,” Alba added.
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Colombia,5.1 million; United States, 4.9 million; Brazil, 2.8 million; Thailand, 1.6 million and Turkey, 1.5 million.
Among the 28 countries included in the study for financial inclusion, the report said 167.2 million people previously excluded from the financial system across the 28 markets could have bank accounts.
“Our research finds that across the world, the ability to pay instantly for goods and services, often via mobile phones, is driving economic growth at every level of society and providing affordable and innovative financial services to tens of millions of previously unbanked citizens,” the study noted. By allowing for the transfer of money between consumers and businesses within seconds rather than days, the report said real-time payments improve overall “market efficiencies” in the economy.
“This results in substantial net savings for consumers and businesses,” the study read, adding that those savings, combined with increased treasury revenue from formalizing previous cash transactions are “boosting” GDP growth for countries that have embraced real-time payments modernization.
Further, the study highlighted that realtime adoption is boosting financial inclusion in countries globally particularly among women, the young, and very low-income citizens as well as digital inclusion which it said is an “essential stepping stone” to
Economy...
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“And so, I think, that the impact of noises such as what we have now, if there is anything [it is expected] to be quite minimal [especially] in the last 12 or so years,” he added.
Based on government data, the country’s economy has been growing above 6 percent in recent years. GDP growth even breached the 7-percent mark in 2010 and 2016, when it reached 7.3 percent and 7.1 percent, respectively. Between 2010 and 2023, GDP growth fell below 6 percent only in four years, and this was during the pandemic years.
Data obtained from the Philippine Statistics Authority (PSA) showed that in 2011 GDP grew 3.9 percent; 2020, a contraction of 9.5 percent; 2021, 5.7 percent; and 2023, 5.5 percent.
“For us in this administration, we are so focused on ensuring that the goals and targets and strategies that we have outlined in the Philippine Development Plan will be achieved. And that’s what is important for the broad public, to signal that the economic momentum is sustained,” Balisacan said.
On Tuesday, Malacañang called on former President Rodrigo Duterte to respect the Constitution and desist from being “irresponsible” by insinuating a military action against the Marcos administration.
In a statement, Executive Secretary Lucas Bersamin said Duterte’s call to the Armed Forces is inspired by a “selfish mo -
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To deal with the situation, some classes are held in tents and lessons in corridors, while others have undergone “multiple shifts” classes, meaning students only attend school for three half-days per week, with the rest of their learning done through modular lessons. Kindergarten students also start classes as early as 5:45 a.m.
“I don’t think there is a lack of effort. It’s only that our solutions have become desperate, and there has been no focused intention of putting everything together. There should be a shared stakeholdership in the communities that we support,” Acidre said.
“It’s not just DepEd that should be the one responsible for this, and they cannot be expected to put forth the solution, because as it is they’re already beyond limits. They’re already delivering beyond what’s humanly possible,” he added.
‘Improve collaboration’
D URING t he same hearing, representatives from key shelter agencies acknowledged approving resettlement projects without
modern society.
“Meanwhile, real-time payments adoption is presenting new business opportunities for banks, notably in developing nations with huge pools of unbanked citizens, but also in more developed nations,” it read.
Meanwhile, the report noted that the Philippines is seen to rank second in terms of profit opportunity for banks by 2028 based on the estimated value of financial inclusion or the new account holders resulting from growth of “real-time rails.” Pakistan led the pack as it is seen to earn $173 billion in terms of “profit opportunity” by 2028. This is followed by the Philippines with $29 billion and India with $25 billion in real-time profit opportunity in four years.
According to the Cebr research, realtime payments are expected to contribute to a “substantial uplift” in financial inclusion and increased profit opportunities for financial institutions across the region.
“These opportunities for banks will be most felt in Pakistan and the Philippines, where the associated financial inclusion uplift from the expansion of real-time payments is projected to contribute profits of nearly $173 billion and $29 billion, respectively, to banks in the two countries by 2028,” the report read.
Thomas Warsop, III, President and CEO of ACI Worldwide said real-time payments are increasingly becoming the “backbone” of digital economies.
“For governments, the resulting transition from an informal cash economy is boosting GDP and treasury revenues in every country we studied,” added Warsop.
tive” to allow his daughter, Vice President Sara Duterte, to take over. In a late-night online news conference Monday, the former President sought the military’s and police’s intervention to “protect the Constitution” amid what he described as a “fractured” government. Duterte, however, stopped short of calling for a coup. Bersamin said Duterte should respect the Constitution, not disobey it. (See: https://businessmirror. com.ph/2024/11/27/palace-to-duterterespect-constitution-stop-agitation/).
Earlier, Vice President Sara Duterte on Monday tagged President Ferdinand Marcos Jr.’s family in the assassination of former Senator Benigno Aquino Jr. amid the worsening feud between the country’s top leaders.
Duterte reacted after she was asked to comment over the response of President Ferdinand Marcos Jr., on her alleged assassination threat against the President, First Lady Liza Araneta-Marcos and Speaker Martin Romualdez.
Duterte responded on the sidelines of the House committee on good government and public accountability hearing: “Oo, di ba pumalag nga yung buong bayan nung pinatay ng pamilya nila [Marcos] si Benigno Aquino Jr.?” Earlier, the vice president claimed that Speaker Martin Romualdez wanted her dead. She claimed that if she gets killed, she already instructed a person to kill Marcos, the First Lady, and Romualdez. (See: https:// businessmirror.com.ph/2024/11/25/ sara-didnt-nation-protest-after-marcos-family-had-ninoy-killed/).
consulting DepEd or local governments. Roderick Ibañez, Regional Manager of the National Housing Authority (NHA) in Region 4, said classrooms were built for donation to DepEd without prior coordination. However, DHSUD Undersecretary Henry Yap noted that policies are currently being reviewed and updated to address such issues.
A DHSUD department order, a copy of which was obtained by BusinessMirror, mandated the creation of a Technical Working Group (TWG) to assess and update the minimum requirements for basic services in relocation sites. The order, released last November 21—the same day as the EDCOM 2 hearing—stemmed from a 2023 Philippine Institute for Development Studies study that exposed the inadequacy and noncompliance of basic services in resettlement areas. The TWG is composed of representatives from various agencies, tasked with drafting policy guidelines and standards to address service gaps. It is also responsible for monitoring and evaluating the implementation of these guidelines, ensuring that the provision of basic services aligns with current needs and legal standards.
Trolls’ activities prompt AFP to disable FB features
THE Armed Forces (AFP) on Wednesday night
announced that it has disabled features on its official Facebook page “to deny trolls a platform for their suspicious activities.”
“Troll farms are a menace to society and we choose not to empower inauthentic actors in their coordinated attempt to spread disinformation and malinformation,” the Armed Forces Public Affairs Office director, Col. Xerxes Trinidad, said in a statement.
However, he did not give specifics on what particular issues involving the Armed Forces have been trolled heavily and necessitated the disabling of some of Facebook features.
“We understand that legitimate followers will be affected by this temporary move. We extend our sincere apologies for the inconvenience and ask for your patience. We hope for your continued support and understanding and support,” Trinidad said.
He also clarified that statements, releases and information on all military activities will continue to be posted on all Armed Forces official channels and legitimate media organizations.
“We call on everyone to report malicious activities online and receive information from reputable sources only,” Trinidad said. Before the Armed Forces disabled the Facebook features, the comment section of its page was flooded with remarks: “#ProtectThePeople” and “#ProtectTheConstitution.”
On Tuesday, the military said it does not want to be involved in political issues after former President Rodrigo Duterte called on the Armed Forces to protect the Constitution in his latest tirade against President Marcos.
“The Armed Forces is a non-partisan organization. As the chief of staff [Gen. Romeo Brawner Jr.] has already said, the Armed Forces is united and professional,” the Armed Forces spokesperson, Col. Francel Margareth Padilla, said. Rex Anthony Naval
Pampanga police on carpet for failure to solve killings
By Jovee Marie N. dela Cruz @joveemarie
EADERS of the House of Representa -
Ltives have pledged to seek justice for the victims of a string of unsolved killings in Pampanga and their grieving families as frustration mounts over the inability of the local police to resolve the cases.
Senior Deputy Speaker Aurelio Gonzales Jr. and Rep. Dan Fernandez of Santa Rosa City, Laguna made the commitment
during the opening of an inquiry into the assassination of at least six local officials from Pampanga’s Third District, which Gonzales represents.
Fernandez, who chairs the House Committee on Public Order and Safety, initiated the investigation in response to a privilege speech delivered by Gonzales, who also filed House Resolution 2086 calling for a congressional investigation into the killings.
For more than two years, regional and local police forces have failed to
arrest the perpetrators, leaving the victims’ families in limbo. During the inquiry, police officials admitted that the assailantts remain at large.
Gonzales issued a direct appeal to law enforcement agencies to act swiftly.
“This is an urgent call to action for our law enforcement agencies to deliver justice,” Gonzales said. “At the same time, this is for the families of the victims, who continue to search for answers and justice.”
He assured the victims’ families of his unwavering commitment to hold
the perpetrators accountable.
“As I stated in my privileged speech, I will do everything within my power to secure justice for the victims. We will not stop until those responsible are brought to justice,” Gonzales vowed.
Meanwhile, Fernandez condemned the killings, telling the victims’ families he was one with them in pursuing justice.
“We stand with the families in their pursuit of justice. This is not just about resolving these cases; it is about protecting our democracy from the threat
Apathy, tolerance enable online sexual abuse–Unicef
By Bless Aubrey Ogerio
ONLINE sexual abuse and exploitation of children (Osaec) is widely condemned in Filipino communities, but a culture of tolerance and non-mindfulness allows it to persist, the United Nations Children’s Fund (Unicef) recently revealed.
“The Changing Social Norms for Osaec” report showed that three out of four adults disagree with the notion that online sexual activities involving children are ‘normal’ within their communities. Yet, an equal proportion believe people should focus on their own affairs rather than involving themselves in their neighbors’ issues.
Deep-rooted social norms contribute to the persistence of Osaec, such as cultural taboos, a tendency to avoid interference in private family matters, victim-blaming, and rigid gender expectations.
“These norms affect monitoring, reporting and timely response to online and offline sexual abuse and exploitation of children because of non-cooperation and non-mindfulness of the individuals or families concerned,” Unicef said.
They also pointed out that many barangay residents have lived in close-knit communities for generations and many are related by blood and live near each other.
“Often, they are united in their belief that anything that brings ‘shame’ to the family should be kept hidden from others, and that the family’s name or reputation should be always protected. Thus, any abuse perpetrated against a family member by someone in the same family is often not disclosed in public or reported,” the global child welfare organization explained. Moreover, individuals who are aware of abuse may hesitate to report it, fearing
strained relationships with the affected family or potential retaliation from the perpetrator.
The Covid-19 pandemic saw a surge in Osaec cases, but Unicef noted that no formal reports emerged from some communities. However, data from the National Center for Missing and Exploited Children revealed a stark increase in cases in the Philippines during the global health crisis.
Between March and May 2020, 279,166 incidents were reported, compared to 76,561 in 2019, reflecting a 264.6 percent rise equivalent to 202,605 more cases.
Women
THE roles of women in family decisions are acknowledged in the community, but traditional gender norms still shape their vulnerability to abuse.
Unicef found that two out of three parents and guardians (65 percent) believe
women and children often hide domestic violence due to shame or embarrassment, while 67 percent think victims avoid reporting abuse out of fear that their claims won’t be believed.
Additionally, over half (58 percent) agree that pandemic-related quarantines and their economic impact heightened women’s exposure to abusive partners.
Children
CHILDREN in the Philippines start using the internet as early as five, with some beginning at 15.
Aside from being on the internet early, factors like poverty, unemployment, low income, and overcrowded living conditions contribute to children’s vulnerability to online sexual exploitation, leading to parental neglect and negative peer influences.
Although one in three adults (31 percent) is aware of youth engaging in sexual
of political violence,” Fernandez said.
Like his colleagues, Manila Rep. Bienvenido Abante Jr., who chairs the Committee on Human Rights, expressed solidarity with the victims’ families in their quest for justice.
He castigated local police forces for failing to solve the assassinations for more than two years.
Gonzales said the earliest of the series of killings took place on April 30, 2022, while the latest happened just on November 12.
activities online or offline, many communities dismiss the issue and remain inactive.
Some children are offered money or gifts for explicit content or meetings. More boys (65 percent) than girls (58 percent) received sexual messages online, but girls (42 percent) were more likely to confide in friends, while boys (38 percent) remained silent.
Concerning signs of abuse include substance use, social withdrawal (80 percent), skipping school or poor academic performance (78 percent), ageinappropriate sexual behavior (75 percent), and unexplained online relationships with older individuals (71 percent).
Unicef stressed the importance of promoting positive community norms to address Osaec, saying “there is a need to promote the values of pakikipagtulungan (helpfulness), pagpapakita ng pag-alala o pakikiramay (showing c oncern, empathy or sympathy), and pakikipag-isa sa pagsugpo ng problema ng barangay.”
Economy
No price increase on basic necessities until yearend
By Jovee Marie N. dela Cruz @joveemarie
CONSUMERS can breathe a sigh of relief as Trade and Industry (DTI) Secretary Maria Cristina Aldeguer-Roque assured on Thursday that there will be no price increase on basic necessities until the end of 2024, while prices of most Noche Buena items will remain unchanged from last year.
“First and foremost, for the prices of basic necessities, no price increase until the end of the year,” Roque told a briefing in Malacañang.
“And then for the Noche Buena more than 50 percent, the price will remain the same as last year, while those that increased did so by less than 5 percent,” she added.
Roque clarified that the minor adjustments, which are already being implemented, reflect the first price changes since last year and were necessary to account for rising costs, especially for imported goods.
House leader optimistic bicam
will restore ₧39-B
Akap budget
A“Actually, there has been no price increase since last year. So, of course, prices—some are imported products—have already increased. So, they decided to request if they could increase,” Roque said.
“So that at least our consumers will have, of course, a very merry Christmas and a happy new year. And not too much of an increase also,” she added.
Despite these adjustments, Roque noted consumer demand remains robust, reflecting the importance of the Christmas season to Filipinos.
“Purchase demand remains strong, especially during Christmas, as we know how important this season is to our fellow Filipinos. So, in terms of consumer demand, it’s still there, and it’s actually looking good,” she added.
The Department of Trade and In-
She explained these increases are necessary to account for rising costs, particularly for imported goods. However, the adjustments were kept minimal to ensure they would not overly burden consumers.
dustry (DTI) released the 2024 Noche Buena Price Guide to provide consumers with a broad selection of options for this upcoming holiday season.
To assist consumers, the DTI has released the 2024 Noche Buena Price Guide, covering 236 Stock Keeping Units (SKUs) from 22 manufacturers across 12 categories, including:
Ham: P170.00 to P928.50
Queso de Bola: P210.00 to P445.00
Fruit Cocktail: P61.76 to P302.50
Cheese: P56.50 to P310.00
Mayonnaise: P20.40 to P245.85
All-Purpose Cream: P36.50 to P72.00
Sandwich Spread: P27.00 to P263.60
Pasta/Spaghetti: P32.00 to P114.00
Elbow Macaroni: P30.50 to P126.25
Tomato Sauce: P16.50 to P92.85
Salad Macaroni: P36.50 to P126.25
Spaghetti Sauce: P28.50 to P103.00
These prices will remain effective until December 31, 2024, ensuring families can purchase holiday essentials at reasonable prices through Media Noche. Consumers are encouraged to monitor prices and report any cases of overpricing in supermarkets or groceries.
Private sector urged to fix mangrove reforestation projects for CSR
THE Global Mangrove Alliance Philippines
(GMA Philippines) has urged the private sector to rectify and update corporate social responsibility (CSR) programs, especially mangrove reforestation programs.
“While we recognize the commitment of the business sector to environmental conservation, we must urgently bring to your attention critical ecological concerns about CSR implementation, as mangrove planting activities have been
conducted in existing mudflats and seagrass beds,” Annadel Cabanban, country manager of Wetlands International Philippines and lead convenwr of the Global Mangrove Alliance (GMA) Philippines, said. GMA Philippines is the national chapter of the Global Mangrove Alliance, an international initiative uniting nongovernment organizations, governments, academics, and communities toward the sustainable management and
rehabilitation of mangrove forests.
In a letter sent to the Philippine Business for Social Progress (PBSP), Cabanban said it has been observed that mangrove planting on mudflats and seagrass beds has been happening since the 1990s. The common mistake by the private sector happened “because they have resorted to planting mangroves to meet their CSR requirements,” and attributed this to the lack of awareness and the knowledge gap
between science and the laymen.
While well-meaning, such activities may even be harmful to the environment as mangroves are often planted on seagrass beds and mudflats, GMA Philippines believes.
“Seagrass meadows and mudflats have their own ecosystems. When you plant mangroves on non-mangrove areas, the mangroves will either die or destroy the entire ecosystem,” says Cabanban.
S the bicameral conference committee started deliberating on the proposed P6.352 trillion 2025 General Appropriations Act (GAA) on Thursday, a vice chairman of the House Committee on Appropriations said that the proposed P39 billion budget for Ayuda para sa Kapos ang Kita Program (Akap) would directly benefit over 12 million low-income Filipinos struggling to make ends meet.
House Deputy Majority Leader Janette Garin, who also serves as vice chairperson of the House Committee on Appropriations, is calling for the restoration of the P39 billion budget for the Akap, which was deleted by the Senate in its version of the proposed 2025 GAA.
“Akap is a huge help for workers with insufficient income. Through this program, we can assist those who are also making efforts to support themselves,” Garin said.
She explained that Akap serves as a safety net for individuals who often fall through the cracks of traditional social protection programs, including near-poor individuals who are not covered by the 4Ps (Pantawid Pamilyang Pilipino Program).
“This program bridges the gap for those who are ineligible for regular assistance yet are vulnerable due to low wages and the high cost of food and other essential items,” she added. Akap is designed to provide targeted social assistance to individuals who do not belong to the poorest sectors but are affected by economic challenges, such as high inflation. It aims to help Filipinos
Nevertheless, Cabanban expressed hopes that the advocacy for science-based mangrove rehabilitation will soon be mainstreamed in the private sector.
She said that given the current trend of mangrove planting for sustainability requirements, GMA Philippines recommends businesses and other members of the private sector to:
1. Partner with mangrove scientists and practitioners on future coastal restoration projects;
afford basic goods and services despite limited income.
She urged the Senate to reconsider its position and restore the Akap funding, emphasizing its critical role in bridging the gap for millions of Filipinos who often fall outside the scope of existing government programs.
“The Akap program is not just financial aid—it’s a lifeline for many hardworking Filipinos striving to survive in a challenging economic environment,” Garin concluded. She reiterated the urgency of restoring funding for Akap, stressing its critical role in supporting millions of Filipinos who are often overlooked by existing social programs.
Earlier, Speaker Ferdinand Martin Romualdez and the chairman of the Committee on Appropriations, Zaldy Co, said the House of Representatives is determined to reinstate the P39 billion Akap, along with additional subsistence allowances for soldiers, in the proposed 2025 national budget.
Co said social welfare Secretary Rex Gatchalian and Philippine Statistics Authority Director General Dennis Mapa, both recognize Akap’s significance. Launched to assist working Filipinos with insufficient incomes, Akap provides one-time financial aid ranging from P3,000 to P5,000 to eligible beneficiaries. Since its inception, the program administered by the Department of Social Welfare and Development has helped over 4 million Filipinos navigate difficult circumstances.
2. Join evidence-based mangrove rehabilitation training; and 3. Co-develop a strategy for mangrove rehabilitation that follows natural coastal patterns and maximizes resource efficiency.
“The Global Mangrove Alliance Philippines stands ready to provide expertise and support in addressing mangrove-related challenges,” says Cabanban, adding that the Alliance is willing to meet and partner with the private sector on coastal restoration.
Jonathan L. Mayuga
No plan to designate Sara terrorist–DOJ
TBy Joel R. San Juan @jrsanjuan1573
HE Department of Justice
on Thursday denied any plans to designate Vice President Sara Duterte as a terrorist despite her admission that she had hired someone to kill President Marcos, First Lady Liza Araneta-Marcos and Speaker Martin Romualdez if she were to be killed.
Justice Undersecretary Jesse Andres there is no move to designate Duterte as a terrorist and that the subpoena issued by the National Bureau of Investigation (NBI) was intended to accord her due process by allowing her to explain her side on the possible criminal charges that may be filed against her in connection with her threat.
The subpoena sought Duterte’s side on possible grave threats and violation of Republic Act 11479 or the Anti-Terrorism Act of 2020.
“She is not being designated as a terrorist. We are not doing something like that to the Vice Presi -
dent. She should not preempt the government. What we are after is to make her accountable for the threat she issued,” Andres said in a radio interview.
Duterte is expected to appear on Friday at the NBI to explain her statement against the First Couple and Romualdez.
Andres earlier said the NBI is looking at the possible violation of Section 4 of the Anti-Terrorism Act by Duterte which held that terrorism is committed by any person who “engages in acts intended to cause death or serious bodily injury to any person, or endangers a person’s life.”
Duterte, in a news conference on Wednesday, said the application of the anti-terrorism law being politicized against her and that the intention was to gain access to her assets and properties. She said the same was done to expelled Negros Oriental Rep. Arnolfo “Arnie”Teves Jr., the alleged mastermind in the killing of Negros Oriental Gov. Roel Degeamo and several others.
House committee gives way to
TBy Jovee Marie N. dela Cruz @joveemarie
HE House Committee on Good Government and Public Accountability
has decided to postpone its hearing scheduled for Friday to allow Vice President Sara Duterte to prioritize the ongoing investigation by the National Bureau of Investigation (NBI).
The NBI has summoned Duterte to respond to allegations of issuing a death threat against President Marcos, First Lady Liza Araneta-Marcos, and Speaker Ferdinand Martin G. Romualdez.
“We have decided earlier to postpone tomorrow’s [Friday] committee hearing to
Teves has left the country and sought political asylum in TimorLeste.
But, Andres maintained that the position a government official holds will not shield him or her from accountability for wrongdoing.
“The fact that they are highranking public officials does not shield them from accountability and that is what I have been trying to emphasize,” Andres said in another radio interview.
Andres cited former Vice President Leni Robredo who was named as respondent in a complaint for inciting to sedition filed before the DOJ but was eventually cleared.
“No one is above the law. We cannot give special treatment to high-ranking officials compared to ordinary citizens,” he added.
Andres said that under the Constitution, the immunity from suit provision is applicable only to the President during his term.
“So all other officials, even impeachable officers, can still be charged criminally,” he added.
Take legal action
THE Integrated Bar of the Philippines (IBP) has urged lawyers to take legal action to protect the rights of an individual who was cited in contempt and ordered detained by a congressional committee during its investigation in aid of legislation.
In a statement, IBP National President Antonio Pido noted that the rights of individuals who are invited as resource persons at congressional hearings has already been defined by SC decisions, including the legal remedies available to the said individuals in the event that their rights are violated.
“Thus, any lawyer who wishes to assist an individual who is held in contempt and ordered detained by a committee of Congress is presumed to know the legal remedies available to that individual, and is encouraged to immediately take legal action to protect the rights of the said individual,” the IBP said.
The IBP, however, maintained that it would remain non-political amid the escalating feud between
NBI, postpones hearing on OVP intel funds
give way to the NBI investigation, so that we are not used as an excuse to address the complaint here. We believe that this issue with the NBI is very important. It concerns national security,” the House Committee on Good Government and Public Accountability chairman, Manila Rep. Joel Chua said. For his part, La Union Rep. Francisco Paolo Ortega V stressed the gravity of the situation: “Don’t get the committee wrong. These are both equally important proceedings, especially our hearings in aid of legislation. However, it is also crucial that the questions be answered and the NBI’s investigation be addressed, because this is no trivial matter. These are grave
threats. As Mr. Chair mentioned, national security is at stake. It’s concerning and frightening. I myself was scared when I heard those threats.”
Also, Zambales Rep. Jefferson Khonghun noted the importance of allowing the NBI to investigate without delay, saying that the investigation is crucial, given the serious nature of the threats and the need for accountability.
“We do not want the committee to be used as an excuse or obstacle to avoid Vice President Sara from facing the NBI, especially regarding the subpoena issued to her,” Khonghun stated.
The committee is investigating Duterte’s alleged misuse of P612.5 million in
DA lifts ban on pigs, pork products from Sweden
THE Department of Agriculture (DA) has lifted the temporary ban it slapped on pigs and pork products from Sweden.
Agriculture Secretary Francisco Tiu Laurel Jr. issued Memorandum Order (MO) 53, which lifted the suspension of shipments of domestic and wild pigs along with their products including pork meat, pig skin, and semen from the European nation.
The order rescinded the temporary import ban imposed last year owing to a confirmed African Swine Fever (ASF) virus outbreak. The deadly hog disease has slashed the country’s pork output since it was detected in 2019.
The DA said Sweden had reported to
Govt mulls over strategies for expanding food supplies
Continued from A16
For local well-milled rice, the price is P50 per kilo while regular milled is P42 per kilo, government data showed. According to the agency, it has been engaging with importers and retailers to encourage price reductions since Executive Order (EO) 62 took effect in July. The edict slashed rice tariffs to 15 percent from 35 percent. However, the DA noted that progress has been “slow” which prompted them to “take a more direct approach.”
“ We’ve tried to avoid selling rice in major public markets to protect the livelihood of rice vendors. But since they haven’t significantly lowered prices for well-milled and regular-milled rice, we are now forced to step in and offer Kadiwa rice. This will allow us to supply consumers directly and compete with retailers,” Laurel said.
T he wider Rice-for-All rollout will be undertaken by DA in coordination with various government agencies.
These include the Department of Interior and Local Government (DILG), Department of Trade and Industry (DTI), Department of Labor and Employment (DOLE), Department of Social Welfare and Development (DSWD), and units of the Office of the President to support the Kadiwa ng Pangulo program.
Rice tariffs
THE DA chief noted the “positive impact” of EO 62 on retail rice prices despite the challenges.
the World Organization for Animal Health (WOAH) that earlier cases of ASF had been resolved and that no additional cases had been reported since September 30. “Based on the evaluation of the DA, the risk of contamination from domestic and wild pigs, and their products and byproducts including pork meat, pig skin, and semen originating from Sweden is negligible,” the order read. The agency also lifted the temporary ban imposed on domestic and wild birds including poultry products such as meat, day-old chicks, eggs, and semen from Minnesota, United States. Laurel signed Memorandum Order
(MO) 52, which rescinded the earlier ban imposed in July due to an outbreak of High Pathogenicity Avian Influenza (HPAI) or bird flu in that state.
The DA noted that US veterinary authorities reported to the WOAH that bird flu cases in every affected county of Minnesota were resolved, with no additional outbreaks after October 16.
“As a country recognized with HPAI regionalization arrangement with the Philippines, state-wide trade restrictions shall only be imposed if there are three or more counties affected by HPAI,” the order read.
Meanwhile, the DA temporarily banned
“If the tariff had not been reduced, rice prices would surely be higher. Prices tend to increase quickly but decrease slowly—if at all. Nevertheless, we will continue our efforts to push prices down,” he said.
The agency said its efforts come amid increased demand for rice due to disaster relief operations and reduced palay production caused by El Niño and recent typhoons.
B alisacan said the Neda will submit its report on the review of the lower rice tariffs to the President today, Friday.
Balisacan said the report presents a picture of the rice market at this time and provide an analysis of where the country is in terms of rice production and supply.
The Neda Secretary also said the report will include price expectations for rice, particularly on what to expect in the coming four months, as well as beyond.
Earlier, the Department of Finance (DOF) urged rice traders to ensure that reductions in rice tariffs are passed on to consumers after rice inflation accelerated to 9.6 percent in October.
The DOF said this on Tuesday as the October inflation print increased to 2.3 percent from 1.9 percent in September. The reminder is meant to ensure that the lower rice tariffs will help all Filipinos. Despite the reduction of rice tariffs to 15 percent from 35 percent effective on July 2024, rice inflation still increased to an alarming 9.6 percent in October from 5.7 percent in September.
Average retail price of imported rice in the National Capital Region during the second half of October 2024 declined by P3.5 per kilogram from the second half of June 2024, tempering the prices of food commodities amid the onslaught of typhoons
confidential funds allocated to the Office of the Vice President (OVP) and the Department of Education (DepEd), which she led until July.
Also, Assistant Majority Leader and Lanao del Sur Rep. Zia Alonto Adiong said that given the serious nature of the allegations being investigated by the NBI, the Vice President’s immediate priority must be to comply with the bureau’s summons and provide a clear explanation to the Filipino people
“The House hearing, where the Vice President is only expected to accompany her staff and not directly answer lawmakers’ questions, can be postponed to prioritize this urgent matter,” he said.
the entry of imported poultry sourced from California due to new outbreaks of H5 HPAI in the state, affecting domestic birds.
Under Memorandum Order (MO) 54, the DA said it made the decision after the National Veterinary Services Laboratories (NVSL) confirmed an additional bird flu outbreak in the state. The US agency submitted its official report on October 25.
It added that California has over three counties affected with bird flu based on the official reports in the WOAH, which triggered the state-wide trade restriction.
Laurel ordered the immediate suspension of the issuance of sanitary and phytosanitary import clearance (SPSIC) and noted that only birds slaughtered or products processed on or before October 11, 2024, will be allowed to enter the country.
Kristine and Leon in October. (See: https://businessmirror.com.ph/2024/11/06/ dof-to-rice-traders-let-people-feel-low-tariffs/)
Production cost
THE average palay production cost in 2023 fell by 10.68 percent to P13.38 per kilo, from P14.98 per kilo in 2022, according to the latest data from the Philippine Statistics Authority (PSA).
The agency noted that by region, the highest production cost was recorded in Central Visayas at P18.70 per kilo, while Central Luzon registered the lowest production cost at P11.60 per kilo.
However, PSA data showed that the average cost per hectare of palay last year reached a record-high of P55,814, 2.65 percent higher than the P54,373 recorded in 2022.
In terms of regions, the agency said the highest cost was registered in Cagayan Valley where it reached P72,255 per hectare while the lowest was reported in Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) where it amounted to P41,446 per hectare.
PSA data indicated that gross returns averaged P82,847 per hectare last year. The highest gross returns were recorded in Central Luzon (P110,995 per hectare), while the lowest was registered in Central Visayas (P60,513 per hectare).
the country’s top leaders and their allies.
Pido added that the IBP is not obliged to take a stand in connection with the case of Vice President Duterte’s chief of staff, lawyer Zuleika Lopez, who condemned the violation of her right to due process after she was cited in contempt and ordered detained by the House Committee on Good Governance for her supposed evasive or false answers to the questions of committee members looking into the alleged anomalies in the disbursement of the confidential fund of the Office of the Vice President (OVP).
Lopez also cried foul over the attempt of the House to transfer her to the Correctional Institute for Women (CIW) where convicted individuals are detained.
The IBP explained that it is prohibited from engaging in partisan politics by “making statements, taking any action, or engaging in any activity that tends to favor a particular political party or political group.”
It noted that Lopez was invited by the House committee in her capacity as the chief of staff of “a national political figure who is currently engaged in a partisan political feud with another political figure. The IBP also pointed out that Lopez’s profession as a lawyer was not the reason why she was invited as a resource person by the committee but for being the chief of staff of a national figure.
“Thus, if the IBP takes a stand regarding the order of contempt and detention issued by the Committee of Congress against the said individual it will surely be interpreted as an activity that tends to impair the basic feature of the IBP as a non-political organization,” the IBP stressed.
The IBP also noted that the rights of individuals who are invited as resources persons at congressional hearings has already been defined by Supreme Court (SC) decisions, including the legal remedies available to the said individuals in the event that their rights are violated.
‘Strengthen scientific education through collaboration, innovation’
TBy Bless Aubrey Ogerio
HE Commission on Higher Education (CHED) head emphasized the importance of fostering innovation and collaboration in higher education to enhance the global competitiveness of Filipino students and institutions.
CHED commissioner Shirley Agrupis urged universities to form partnerships with local and international institutions to drive scientific advancements.
“In advancing education, partnerships and innovation are more crucial than ever to make higher education accessible, relevant, and future-focused,” she stated via a keynote message at the Rizal Technological University’s (RTU) Innovation Day. Agrupis highlighted the role of institutions like the Department of Science and Technology in strengthening agriculture, climate resilience, health sciences, and digital transformation programs.
Pointing out CHED’s initiatives, she mentioned the Transnational Higher Education Law and the Policy Framework for Internationalization, which streamline
international collaborations.
“Through our innovative partnerships, including 81 government-to-government agreements across Canada, the United States, Europe, and the Asia Pacific, we provide opportunities for joint research, joint curriculum development and exchanges that benefit thousands of students,” the CHED official said.
Higher education institutions were told to maximize the benefits of such programs.
“I encourage the university to really take advantage of this without limiting the implementation of every framework and guidelines of CHED,” she urged. At the RTU event, DOST undersecretary Leah Buendia discussed challenges and successes in developing the local startup ecosystem. Meanwhile, University of the Philippines Diliman professor Ian Kendrich Fontanilla presented research on using eDNA detection for ecological monitoring, in collaboration with RTU.
DOST National Capital Region regional director Romelen Tresvalles highlighted DOST-supported RTU innovations, including additive manufacturing programs, research fairs, scientific events, and new projects.
Senator: Speed up launch of MSMEs
SENATOR Sherwin Gatchalian is seeking a mechanism to help micro, small, and medium enterprises (MSMEs), including startups, launch their business ventures without delay on reports that bureaucratic red tape continues to hinder investments.
“We would like to request the Anti-Red Tape Authority [Arta] to submit a proposal on how we can help MSMEs and startups in launching businesses,” Gatchalian said at a recent Senate deliberation on Arta’s proposed budget for next year.
Gatchalian noted that despite the enactment of Republic Act 11032, also known as the Ease of Doing Business and Efficient Government Service Delivery Act, the country continues to lag behind most economies in terms of ease of doing business. In fact, local business groups continue to implore for measures that would further ease and lower the cost of doing business in the country, the senator said.
ARTA said it is working on a memorandum of agreement with the Department of Trade and Industry (DTI) and the Department of Information, Communications and Technology (DICT) to streamline processes and reduce regulatory burdens for MSMEs and facilitate a digital one-stop shop platform for business permits and licenses. This is expected to reduce steps and facilitate faster transaction times for permits and licenses, minimizing bureaucratic obstacles for MSMEs.
Currently, only 112 local government units have fully implemented the Electronic Business One Stop-Shop (eBOSS) system. Under RA 11032, all LGUs must establish eBOSS by June 2021. The eBOSS system aims to consolidate steps into a unified online platform, facilitating faster processing and reducing redundant requirements.
“These sentiments affect the country’s reputation so we need to help our MSMEs through Arta or in collaboration with other departments,” he emphasized. Gatchalian even pointed out that the country needs to establish a single platform on which startups can establish their respective businesses. “We need to empower MSMEs and startups so they can help drive economic growth moving forward,” he added.
Editor: Angel R. Calso
Friday, November 29,
Russia launches massive missile and drone assault on Ukraine’s energy infrastructure ahead of winter
By Hanna Arhirova The Associated Press
KYIV, Ukraine—Russia conducted a “massive” missile and drone attack against Ukraine’s energy infrastructure on Thursday, officials said, adding to fears that the Kremlin aims to cripple the country’s power generation capacity before winter.
“Attacks on energy facilities are happening all over Ukraine,” Energy Minister Herman Halushchenko said in a post on Facebook. He added that emergency power outages were implemented nationwide.
Ukrainian officials have warned recently that Russia was stockpiling cruise and ballistic missiles, presumably for another pre-winter aerial campaign against Ukraine’s power grid. Ukrainian officials have in the past accused Russia of “weaponizing winter.”
Around half of Ukraine’s energy infrastructure has been destroyed during the almost three years of war with Russia, and rolling electricity blackouts are common. Kyiv’s Western al -
lies have sought to help Ukraine protect power generation with air defense systems and funds for rebuilding.
Russia in previous years has targeted Ukraine’s electricity generation, aiming to deny civilians critical heating and drinking water supplies during the bitter winter months and break Ukrainian spirits. The attacks also seek to hobble Ukraine’s defense industry that is now producing missiles, drones and armored vehicles, among other military assets.
The war has been going in Russia’s favor in recent months as its bigger army uses its advantages in manpower and equipment to push Ukrainian forces backward in eastern areas, though its offensive has been slow and costly.
Explosions were reported in Kyiv, Kharkiv, Rivne, Khmelnytskyi, Lutsk, and many other cities in central and western Ukraine.
The head of Ukraine’s presidential office, Andrii Yermak, said in a Telegram post that Russia had stockpiled missiles to strike Ukrainian infrastructure and wage war against civilians during the cold season. “They were helped by their crazy allies, including from North Korea,” he wrote.
Western governments and South Korea say North Korea in recent months has intensified its military support for Russia.
The head of the Lviv region in western Ukraine, Maksym Kozytskyi, said the attack left more than half a million households without electricity.
Over 280,000 households in the northwestern Rivne region were without electricity because of the attack, according to regional Gov. Oleksandr Koval. Running water supplies were also patchy in affected areas. Some schools in Rivne city switched to online classes.
There were also strikes on the bordering Volyn region, where 215,000 households had no electricity, regional head Ivan Rudnytskyi said. All critical infrastructures that lost power were switched to generators. Energy infrastructure was also targeted in the western Ivano-Frankivsk region, local officials said. Air defenses were activated there, and emergency power outages were introduced.
Local officials ordered the opening of “points of invincibility”—shelter-type places where people can charge their phones and other electrical devices and get refreshments during blackouts.
In Kyiv, where the air raid alert lasted over nine hours, missile debris fell in one neighborhood, local officials said. No casualties were reported.
South Korea calls for joint measures with Ukraine against North Korean troop deployment to Russia
By Hyung-Jin Kim The Associated Press
SEOUL, South Korea— South Korea’s president on Wednesday met a visiting Ukraine delegation and called for the two countries to formulate countermeasures in response to the threat posed by North Korea’s recent dispatch of more than 10,000 soldiers to support Russia’s war against Ukraine.
The North Korean troop deployment is threatening to expand the almost three-year war, with Ukraine and the US saying that some of the soldiers have already begun engaging in battle on the front lines. Seoul and Washington also worry that Russia might in return help North Korea build more advanced nuclear weapons targeting them. In late October, South Korea warned it could respond by supplying weapons to Ukraine.
During a meeting with the Ukrainian delegation led by Defense Minister Rustem Umerov, President Yoon Suk Yeol said he hopes that Seoul and Kiev will work out effective ways to cope
with the security threat posed by the North Korean-Russian military cooperation including the North’s troop dispatch, Yoon’s office said in a statement.
The Ukrainian delegation later met separately with Yoon’s national security adviser, Shin Wonsik, and Defense Minister Kim Yong Hyun. During the meetings, Umerov briefed the South Korean officials on the status of the Russia-Ukraine war and expressed hope that Kyiv and Seoul will strengthen cooperation, the statement said.
It said the two sides agreed to continue to share information on the North Korean troops in Russia and North Korean-Russian weapons and technology transfers while closely coordinating with the United States.
The South Korean statement didn’t say whether the two sides discussed Seoul’s possible weapons supply to Ukraine.
Many observers say Donald Trump’s victory in the US presidential election could make South Korea more cautious about potentially shipping weapons to Ukraine because Trump has promised to end the war swiftly.
Since Russia’s invasion of Ukraine in 2022, South Korea has joined US-led sanctions against Moscow and shipped humanitarian and financial support to Kyiv. But it has avoided directly supplying arms in line with its policy of not supplying lethal weapons to countries actively engaged in conflicts. South Korean officials have said they will take phased countermeasures, linking the level of their response to the degree of Russia-North Korean cooperation. Shin, the national security adviser, said last week that Russia has supplied air defense missile systems to North Korea in exchange for its sending troops to Russia. Experts say it’s unlikely that Russia will transfer high-tech nuclear and missile technology to North Korea in the initial stage of the troop dispatch.
North Korea and Russia have sharply increased their military and other cooperation as each face confrontations with the U.S. and its allies. The US, South Korea and others accuse North Korea of having shipped artillery, missiles and other conventional weapons to Russia.
November 29, 2024
NOTICE OF FILING OF APPLICATION FOR ALIEN EMPLOYMENT PERMIT (AEP/S)
Notice is hereby given that the following companies/employers have filed with this Regional Office application/s for Alien Employment Permit/s:
1 888 FASTEASY INC.
Ground Floor, GMDC Bldg., Niog III, City of Bacoor, Cavite
2 ALPHA PEAK STEEL CORPORATION
Purok 6, Conchu, City of Trece Martires (capital), Cavite
3 CAINIAO LOGISTICS (PHILIPPINES), INC.
Phase 8, Laguna Technopark, Loma, City of Biñan, Laguna
4 CAINIAO LOGISTICS (PHILIPPINES), INC.
DU, BIN
Chief Executive Officer
Brief Job Description:
Oversee the operational and financial health of the organization
ZHOU, ZHENMIN
Supply Chain Coordinator (Bi-Lingual)
Brief Job Description:
Salary
Develop and execute supply chain plans to meet production and customer demand efficiently Basic Qualification:
LIU, JIE
Inbound Warehouse Supervisor
Brief Job Description:
Handle daily management practices of warehousing and distribution warehouses, implement and enforce warehouse related rules and regulations
Phase 8, Laguna Technopark, Loma, City of Biñan, Laguna LIN, XIANGGUO
Junior Quality Management Specialist
Brief Job Description:
Achieve warehouse performance objectives, in particular by establishing warehouse on-the-floor operation excellence daily management methods
TSAI, HUNG-HUI
5 CELERAISE ELECTRONIC CORPORATION
Maguyam Road, Carillo Drive
Beside Hong Chang Compound, Bancal, Carmona, Cavite
Accounting Specialist
Brief Job Description:
Knowledgeable in accounting dep. Matters, extend assistant to the accounting assistant manager
CHEN, YUJIE
6 FURUSHIMA PHILIPPINES INC.
Lot 6, Block 2, Cavite Economic Zone, Tejeros Convention, Rosario, Cavite
Quality Control Manager
Brief Job Description:
Oversee the activity of the quality assurance department and staff
JIANG, SONGZHU
7 HONGTAI TECHNOLOGY INC.
Bldg. B, CCMC Compound, Carmelray Industrial Park II, Punta, City Of Calamba, Laguna
8 PHILIPPINE NAKAMURA CORPORATION
Lot 3, Block 3, Phase II, Cavite Economic Zone, Tejeros Convention, Rosario, Cavite
9 SHIN-ETSU MAGNETICS PHILIPPINES INC.
125 East Main Avenue, Laguna Technopark, Biñan, City of Biñan, Laguna
Sales Analyst
Brief Job Description:
Support the sales group in planning and executing sales and marketing activities
NAKAMURA, YOSHIAKI
Production Assistant Manager
Brief Job Description:
Oversee all operational matters of the factory
WATANABE, KO
Production Manager
Brief Job Description:
Design, develop and initiates process methods and techniques to improve production related process
Ligaya, Mabini, Batangas
in oral, writing and reading skills in English and Mandarin language Salary
Basic Qualification: College degree or above, with priority given to majors in logistics, transportation, warehousing, and related fields
Salary Range:
Php 60,000 - Php 89,999
Basic Qualification:
More than 3 years’ experience in logistics industry especially warehouse quality management to help Cainiao warehouse operation performance improve
Salary Range:
Php 60,000 - Php 89,999
Basic Qualification:
Bachelor’s degree holder and can speak and read Chinese language
Salary Range:
Php 30,000 - Php 59,999
Basic Qualification:
College graduate, with 2-3 years’ experience at garments industry
Salary Range:
Php 60,000 - Php 89,999
Basic Qualification:
College graduate of any course with knowledge in Japanese language proficiency
Salary Range:
Php 30,000 - Php 59,999
Basic Qualification: With 3-5 supervisory working experience in manufacturing company
Salary Range: Php 150,000 - Php 499,999
HEEB, JONAS Resort Consultant
11 WORLD DEPOT SUPPLY CHAIN (PHILIPPINES) INC.
1025, Me Toclong Rd., Toclong, Kawit, Cavite
12 YELLOW RIVER POWER CONSTRUCTION AND SUPPLIES CORPORATION
No. 20, Narra Rd, San Antonio, City of San Pedro, Laguna
13 YELLOW RIVER POWER CONSTRUCTION AND SUPPLIES CORPORATION
No. 20, Narra Rd, San Antonio, City of San Pedro, Laguna
CHRISTOPHER CHONG SEONG JAE
Mandarin Speaking Customer Service Representative
Brief
LI, ZUOSHUAI
Operation Manager
Brief Job Description: In-charge in monitoring, analyzing and improving their company’s business
LI, ZUOTAI
Operation Manager
Brief Job Description: In-charge in monitoring, analyzing and improving their company’s business
ZHANG, LIHUA
14 YSEN HONDA (PHILIPPINES) PACKAGING INC.
B6-b L5 Ph3, Bldg. 1-2, PPVI Compound, Lima Technology Center, Santiago, Malvar, Batangas
15 YSEN HONDA (PHILIPPINES) PACKAGING INC.
B6-b L5 Ph3, Bldg. 1-2, PPVI Compound, Lima Technology Center, Santiago, Malvar, Batangas
Fulfillment Manager
Brief Job Description:
Planning and scheduling delivery process including managing budge
OU, DONGHUA
Production Manager
Brief Job Description: Manage the general operation of production
NING, ZUOJUN
16 YUTO PACKAGING TECHNOLOGY PHILIPPINES CORP.
Block 19, Lima Technology Center, San Lucas, City of Lipa, Batangas
Heidelberg Captain
Brief Job Description:
Responsible for designing implementing and optimizing manufacturing processes to enhance productivity and quality
Qualification: College graduate and with experience in handling production department
Range: Php 30,000 - Php 59,999
Basic Qualification: With teamwork, operation of offset printing presses and problem-solving skills.
Salary Range: Php 30,000 - Php 59,999
Any person in the Philippines who is competent, able and willing to perform the services for which the foreign national is desired may file an objection at DOLE Regional Office IV-A located at 3rd and 4th Floors, Andenson Building II, Parian, Calamba City, Laguna, within 30 days after this publication.
Please inform DOLE Regional Office IV-A if you have any information on criminal offense committed by the foreign nationals. By
5.
4.
Brief
6.
and sales professionals to implement innovative campaigns for branding or product launches.
Basic Qualification: Ability to work under pressure and motivation to succeed in a competitive environment. Should have a bachelor’s degree in journalism, marketing, communications or a related field. With good communication and interpersonal skills.
Salary Range: Php 30,000 - Php 59,999
Basic Qualification: Bachelor’s degree in business or related field of study.
Brief Job Description: Plan, organize, and direct the activities of a construction project, under the direction of a general manager.
14. SHETYE, PREETAM SUDHIR Solution Architecture Associate Director Brief Job Description: Architect solutions for a specific service or tower that offers optimal cost-to-serve and deliver value. Design a solution approach that includes an overall solution plan, cost estimates,
47.
48.
Brief
49. ZOU, RUN
Mandarin
Brief
50. DUAN, SHAOHUI
Mandarin Speaking Link & Fabrication Fusing Specialist
Brief Job Description: Responsible for managing and executing the fusion of materials and components in manufacturing and production processes.
51. LIU, XIANYAO
Mandarin Speaking Link & Fabrication Fusing Specialist
Salary
Brief Job Description: Responsible for managing and executing the fusion of materials and components in manufacturing and production processes. Basic Qualification: Extensive fluency in Mandarin language and characters.
52. ZHU, XIANCHAO Mandarin Speaking Segment Storage & Warehouse Manager
Brief Job Description: Oversee the efficient management of storage facilities inventory operation.
53. YANG, WENHAO Mandarin Speaking Technical Machinery Consultant
Brief Job Description: Provides expertise on machinery and equipment used in industrial commercial & specialized application.
54. JIN, ZAIRONG Mandarin Speaking Technical TBM Site Consultant
Brief Job Description: Deploy and configure TBM tools to capture and report its cost, consumption and performance date.
55. QIN, YONGFA Mandarin Speaking Technical TBM Site Consultant
Brief Job Description: Deploy and configure TBM tools to capture and report its cost, consumption and performance date.
56. CUI, YONGSHENG Mandarin Speaking Voltage Operations & Energy Control Consultant
Brief Job Description: Overseeing energy system focusing on voltage regulation and energy control strategies.
Basic Qualification: Extensive fluency in
Basic Qualification: Extensive fluency in Mandarin language and characters. Salary Range: Php 30,000 - Php 59,999
Basic Qualification: Extensive fluency in Mandarin language and characters.
Salary Range: Php 30,000 - Php 59,999 CHINA WUYI CO., LTD. 4/f Commodore Bldg., 422 Arquiza St., 072, Barangay 667, Ermita, City Of Manila
57. SHI, QI Mandarin Field Service Coordinator
Brief Job Description: The Mandarin Field Service Coordinator will be a strategist and a leader able to steer the company to the most profitable direction while also implementing its vision, mission and long-term goals.
Basic Qualification: Proven experience as Mandarin Field Service Coordinator. Excellent communication, interpersonal and presentation skills.
Salary Range: Php 30,000 - Php 59,999 COMMSEC INC. House No. 2259, Aurora Blvd. St., Barangay 148, Pasay City
58. BAI, CHENQIAN General Business Specialist
Brief Job Description: Identifying profitable business, negotiating and closing business deals.
59.
60.
2/f
99. WANG, YANG Chinese Trainer
Brief
103.
105. HUANG, ZHOU Management Trainee
Brief Job Description: Help managers in evaluating performance.
106. FENG, YAWEI Regional Sales Director
Brief Job Description: Oversee sales operations in the assigned regional area.
Salary Range: Php 30,000 - Php 59,999
S&P CONSTRUCTION TECHNOLOGY & DEVELOPMENT CO., INC. 12/f Times Plaza Building, United Nation Avenue Corner Taft Avenue, Barangay 670, Ermita, City Of Manila
107. LI, NIANLONG Project Manager
Brief Job Description: Oversee construction projects from beginning to end. Keep track of inventory, tools and equipment.
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Israel-Hezbollah ceasefire brings relief, but Gaza sees no end to war
By Julia Frankel The Associated Press
JERUSALEM—For many across the Middle East, the Israel-Hezbollah ceasefire came as a relief: the first major sign of progress in the region since war began more than a year ago.
But for Palestinians in Gaza and families of hostages held in the territory, the news appeared only to inaugurate a newer, grimmer period of the conflict there. For them, it marked yet another missed opportunity to end fighting that has stretched on for nearly 14 months.
Palestinians had hoped that any ceasefire deal with Hezbollah would include a truce in Gaza as well. The families of people kidnapped when Hamas-led militants stormed southern Israel in October 2023, meanwhile, wanted part of the agreement to include returning their loved ones. Instead, the ceasefire was confined only to the fighting in Lebanon.
“We feel this is a missed opportunity to tie in the hostages in this agreement that was signed today,” said Ruby Chen, whose son, Itay Chen, was taken hostage from an Israeli military base and has been declared dead.
As much as they were intertwined, the two wars have been very different. In Lebanon, Israel said its aim was to drive Hezbollah back from the countries’ shared border and end the militant group’s barrages into northern Israel. The ceasefire that took effect Wednesday is intended to do that.
In Gaza, Israel’s goals are more sweeping. Prime Minister Benjamin Netanyahu has been resolute in insisting that Hamas must be completely destroyed and Israel
must retain lasting control over parts of the territory. Months of talks have failed to get Netanyahu to back down from those demands—or to convince Hamas to release hostages under those terms.
For Palestinians in Gaza, that means continuing misery under an Israeli campaign that has demolished much of the territory and driven almost the entire population from their homes. Hundreds of thousands are going hungry while living in squalid tent cities as the second winter of the war brings cold rains and flooding.
“They agree to a ceasefire in one place and not in the other? Have mercy on the children, the elderly and the women,” said Ahlam Abu Shalabi, living in tent in central Gaza. “Now it is winter, and all the people are drowning.”
Palestinians feel resigned to continued war
THE war between Israel and Hamas began on October 7, 2023, when militants attacked Israel from Gaza, killing around 1,200 people and taking some 250 hostage. Israel’s retaliatory offensive has rained devastation on the Palestinian territory, killing over 44,000 people, according to local health officials. The officials, who do not distinguish between civilians and fighters in their count, say over half of the dead are women and children.
Hezbollah began firing into Israel a day after Hamas’ attack in solidarity with the Palestinian militant group. The two sides have exchanged near-daily barrages since. Moving thousands of troops to its northern border, Israel ramped up bombardment of southern Lebanon and launched a ground invasion there two months ago, killing many of Hezbollah’s leaders.
Palestinians now fear Israel’s military can return its full focus to Gaza—a point that Netanyahu made as he announced the ceasefire in Lebanon on Tuesday.
“The pressure will be more on Gaza,” said Mamdouh Younis, a displaced man in a central Gaza tent camp. Netanyahu, he said, can now exploit the fact that “Gaza has become alone, far from all the arenas that were supporting it, especially the Lebanon front.”
Israeli troops are already engaged in fierce fighting in Gaza’s
north, where a two-month offensive has cut off most aid and caused experts to warn a famine may be underway. Strikes all over the territory regularly kill dozens.
In signing onto the ceasefire deal, Hezbollah reversed its longheld position that it wouldn’t stop its barrages across the border unless Israel ends the war in Gaza.
“This could have a psychological impact, as it will further entrench the understanding that Palestinians in Gaza are alone in resisting against their occupiers,” said Tariq Kenney Shawa, a US policy fellow at Al-Shabaka, a Palestinian think tank.
Hamas may dig its heels in IT also leaves Hamas—its capabilities already severely damaged by Israel’s offensive—to fight alone. Hamas official Osama Hamdan appeared to accept Hezbollah’s new position in an interview Monday.
“Any announcement of a cease -
‘Everything is expensive!’ Bolivia faces shocking economic collapse
By Paola Flores & Isabel Debre The Associated Press
EL ALTO, Bolivia—Fuel is rapidly becoming one of Bolivia’s scarcest commodities. Long lines of vehicles snake for several kilometers outside gas stations all over Bolivia, once South America’s second-largest producer of natural gas. Some of the queues don’t budge for days.
While frustration builds, drivers like Victor García now eat, sleep and socialize around their stationary trucks, waiting to buy just a few gallons of diesel—unless the station runs dry.
“We don’t know what’s going to happen, but we’re going to be worse off,” said García, 66, who inched closer to the pump Tuesday as the hours ticked by in El Alto, a bare-bones sprawl beside Bolivia’s capital in the Andean altiplano.
Bolivia’s monthslong fuel crunch comes as the nation’s foreign currency reserves plummet, leaving Bolivians unable to find US dollars at banks and exchange houses.
Imported goods that were once commonplace have become scarce.
The fuel crisis has created a sense that the country is coming undone, disrupting economic activity and everyday life for millions of people, hurting commerce and farm production and sending food prices soaring.
Mounting public anger has driven crowds into the streets in recent weeks, piling pressure on leftist President Luis Arce to ease the
suffering ahead of a tense election next year. “We want effective solutions to the shortage of fuel, dollars and the increase in food prices,” said Reinerio Vargas, the vice rector of Gabriel René Moreno Autonomous University in the eastern province of Santa Cruz, where hundreds of desperate truckers and residents flooded main squares Tuesday to vent their anger at Arce’s inaction and demand early elections.
In a similar eruption of discontent, protesters shouting “Everything is expensive!” marched through the streets of the capital, La Paz, last week.
Bolivians say Arce’s image has suffered not only because of the crisis but also because his government insists that it doesn’t exist.
“Diesel sales are in the process of returning to normal,” Economy Minister Marcelo Montenegro said Tuesday.
Arce has repeatedly vowed that his government will end the fuel shortages and lower the prices of basic goods by arbitrary deadlines. On Nov. 10, he again promised he would “resolve this issue” in 10 days.
As the deadlines come and go, the black market currency exchange rate has risen to nearly 40% more than the official rate.
Arce’s office did not respond to interview requests.
“The queues are getting longer and longer,” said 38-year-old driver Ramiro Morales, who needed a bathroom after four hours in line Tuesday but feared losing his place if he went searching for one. “People are exhausted.”
It’s a shocking turnaround for the land -
locked nation of 12 million people that was a South American economic success story in the 2000s, when the commodities bonanza generated tens of billions of dollars under the nation’s first Indigenous president, former President Evo Morales.
Morales, Arce’s one-time mentor, is his present-day rival in the fight to be the ruling party’s candidate next year.
But when the commodities boom ended, prices slumped and gas production dwindled. Now, Bolivia spends an estimated $56 million a week to import most of its gasoline and diesel from Argentina, Paraguay and Russia.
Economy Minister Montenegro on Tuesday pledged that the government would continue providing fuel subsidies that critics say it can’t afford.
Banners from two years ago boasting that Bolivia’s inflation is the lowest in South America still greet tourists arriving at El Alto International Airport. Now, inflation is among the highest in the region.
Fuel shortages prevent farmers from getting their produce to distribution centers and markets, triggering a sharp price hike for food staples.
Last week in La Paz and neighboring El Alto, hungry Bolivians jostled in long lines to buy rice after much-delayed shipments finally arrived from Santa Cruz, the country’s economic engine some 850 kilometers (528 miles) away.
With the diesel shortage affecting everything from the operation of tractors to the sourcing of machinery parts, the shortage is also hurting farmers during the crucial
planting season.
“Without diesel, there is no food for 2025,” said Klaus Frerking, the vice president of the Eastern Agricultural Chamber of Bolivia.
The prices of potatoes, onions and milk have doubled in El Alto’s main wholesale food market in the past month, vendors said, overshooting the country’s nearly 8% inflation rate.
Nervous Bolivians are cutting back on their consumption.
“You have to search a lot to find the cheapest food,” said 67-year-old Angela Mamani, struggling to pull together meals for her six grandchildren at El Alto’s open-air market Tuesday. She planned to buy vegetables but didn’t have enough cash and went home empty-handed.
This week, Arce’s government presented a 2025 budget—with a 12% increase in spending—that drew backlash from lawmakers and business leaders who said it would lead to more debt and more inflation.
While the governing Movement Toward Socialism party tears itself apart in the power struggle between Arce and Morales, both politicians have seen the economic morass as a way to strengthen their positions ahead of 2025 elections.
“They deny there are problems. They blame external contexts and conflicts,” said Bolivian economic analyst Gonzalo Chávez.
Morales’ supporters last month launched 24-day protest partly targeting Arce’s handling of the economy that blocked main roads and stranded commercial shipments, costing the government billions of dollars.
fire is welcome. Hezbollah has stood by our people and made significant sacrifices,” Hamdan told the Lebanese broadcaster Al-Mayadeen, which is seen as politically allied with Hezbollah.
Khalil Sayegh, a Palestinian analyst, said the ceasefire could make Hamas even less popular in Gaza, by proving the failure of its gambit that its attack on Israel would rally other militant groups to the fight.
“It’s a moment where we can see the Hamas messaging become weaker and weaker, as they struggle to justify their strategy to the public,” said Sayegh.
US Secretary of State Antony Blinken said Tuesday that the Israel-Hezbollah ceasefire could help force Hamas to the negotiating table because it would show the group that the “cavalry is not on the way.”
But Hamas experts predicted that it would only dig in both on
the battlefield and in talks. Hamas has insisted it will only release all the hostages in return for a full Israeli withdrawal from Gaza.
“I expect Hamas will continue using guerrilla warfare to confront Israeli forces in Gaza as long as they remain,” said Shawa.
Hostage families lose hope
DOZENS of Israelis thronged a major highway in Tel Aviv on Tuesday night, protesting for the return of the hostages as the country waited to hear if a ceasefire in Lebanon had been agreed.
Around 100 people taken hostage are still held in Gaza, at least a third of whom are believed to be dead. Most of the other hostages seized by Hamas were released during a ceasefire last year.
Ricardo Grichener, the uncle of 23-year-old hostage Omer Wenkert, said the ceasefire with Hezbollah showed how the Israeli government was openly disregarding the hostages.
Even though Israel has inflicted greater damage on Hamas in Gaza than on Hezbollah in Lebanon, he said “the decision to postpone a deal in Gaza and release the hostages is not based on the same military success criteria.”
The most recent effort to wind down the war stalled in October. US President Joe Biden said Tuesday he would begin a renewed push, but his administration is now in its waning days after the reelection of former President Donald Trump.
“This ceasefire doesn’t concern our hostages. I believe that Netanyahu forgot about them, and he just wants to keep fighting in Gaza,” said Ifat Kalderon, clutching a photo of her cousin, Ofer Kalderon, who is a hostage and a father to four.
“Ofer yesterday had his 54th birthday. His second birthday in Gaza,” she said. “It’s unbelievable that he’s still there.”
White House urges Ukraine to boost military by drafting younger troops
By Aamer Madhani The Associated Press
ASHINGTON—President
WJoe Biden’s administration is urging Ukraine to quickly increase the size of its military by drafting more troops and revamping its mobilization laws to allow for the conscription of those as young as 18.
A senior Biden administration official, who spoke on the condition of anonymity to discuss the private consultations, said Wednesday that the outgoing Democratic administration wants Ukraine to lower the mobilization age to 18 from the current age of 25 to expand the pool of fighting-age men available to help a badly outnumbered Ukraine in its nearly three-year-old war with Russia.
The official said “the pure math” of Ukraine’s situation now is that it needs more troops in the fight. Currently Ukraine is not mobilizing or training enough soldiers to replace its battlefield losses while keeping pace with Russia’s growing military, the official added.
The White House has pushed more than $56 billion in security assistance to Ukraine since the start of Russia’s February 2022 invasion and expects to send billions more to Kyiv before Biden leaves office in less than months.
“So, we’re also ready to ramp up our training capacity if they take appropriate steps to fill out their ranks,” Savett said. The Ukrainians have said they need about 160,000 additional troops to keep up with its battlefield needs, but the US administration believes they probably will need more than that.
More than 1 million Ukrainians are now in uniform, including the National Guard and other units.
Ukrainian President Volodymyr Zelenskyy has been hearing concerns from allies in other Western capitals as well that Ukraine has a troop level problem and not an arms problem, according to European officials who requested anonymity to discuss the sensitive diplomatic conversations. The European allies have stressed that the lack of depth means that it may soon become untenable for Ukraine to continue to operate in Russia’s Kursk border region. The situation in Kursk has become further complicated by the arrival of thousands of North Korean troops, who have come to help Moscow try See “White House,” A13
But with time running out, the Biden White House is also sharpening its viewpoint that Ukraine has the weaponry it needs and now must dramatically increase its troop levels if it’s going to stay in the fight with Russia. White House National Security Council spokesman Sean Savett in a statement said the administration will continue sending Ukraine weaponry but believes “manpower is the most vital need” Ukraine has at the moment.
www.businessmirror.com.ph
Protests disrupt India’s Parliament over Adani indictment amid allegations of govt protection
By Ashok Sharma The Associated Press
NEW DELHI—India’s Parliament was disrupted for a third day Thursday by opposition parties protesting the government’s silence over allegations against billionaire Gautam Adani, who was recently indicted in the US for alleged fraud and a scheme to pay bribes.
As Speaker Om Birla convened the powerful lower house of Parliament, opposition members shot up from their seats and crowded the aisles, shouting anti-government slogans. The
‘It’s a bird! It’s a plane!’ In Alaska, it’s both, with a pilot tossing turkeys to rural homes
By Mark Thiessen & Becky Bohrer
The Associated Press
ANCHORAGE, Alaska—In the remotest reaches of Alaska, there’s no relying on DoorDash to have Thanksgiving dinner—or any dinner—delivered. But some residents living well off the grid nevertheless have turkeys this holiday, thanks to the Alaska Turkey Bomb. For the third straight year, a resident named Esther Keim has been flying low and slow in a small plane over rural parts of south-central Alaska, dropping frozen turkeys to those who can’t simply run out to the grocery store.
Alaska is mostly wilderness, with only about 20% of it accessible by road. In winter, many who live in remote areas rely on small planes or snowmobiles to travel any distance, and frozen rivers can act as makeshift roads.
When Keim was growing up on an Alaska homestead, a family friend would airdrop turkeys to her family and others nearby for the holidays. Other times, the pilot would deliver newspapers, sometimes with a pack of gum inside for Keim. Her family moved to more urban Alaska nearly 25 years ago but still has the homestead. Using a small plane she had rebuilt with her father, Keim launched her turkey delivery mission a few years back after learning of a family living off the land nearby who had little for Thanksgiving dinner.
“They were telling me that a squirrel for dinner did not split very far between three people,” Keim recalled. “At that moment, I thought...‘I’m going to airdrop them a turkey.’” She decided not to stop there. Her effort has grown by word of mouth and by social media posts. This year, she’s delivering 32 frozen turkeys to people living year-round in cabins where there are no roads.
All but two had been delivered by Tuesday, with delivery plans for the last two birds thwarted by Alaska’s unpredictable weather.
Among the beneficiaries are Dave and Christina Luce, who live on the Yentna River about 45 miles (72 kilometers) northwest of Anchorage. They have stunning mountain views in every direction, including North America’s tallest mountain, Denali, directly to the north. But in the winter it’s a 90-minute snowmobile ride to the nearest town, which they do about once a month.
“I’m 80 years old now, so we make fewer and fewer trips,” Dave Luce said. “The adventure has sort of gone out of it.”
White House. . .
to claw back the land seized in a Ukrainian incursion this year. The stepped-up push on Ukraine to strengthen its fighting ranks comes as Ukraine braces for President-elect Donald Trump to take office on January 20. The Republican said he would bring about a swift end to the war and has raised uncertainty about whether his administration would continue the vital
They’ve known Keim since she was little. The 12-pound (5.44-kilogram) turkey she delivered will provide more than enough for them and a few neighbors.
“It makes a great Thanksgiving,” Dave Luce said. “She’s been a real sweetheart, and she’s been a real good friend.” Keim makes 30 to 40 turkey deliveries yearly, flying as far as 100 miles (161 kilometers) from her base north of Anchorage toward Denali’s foothills.
Sometimes she enlists the help of a “turkey dropper” to ride along and toss the birds out. Other times, she’s the one dropping turkeys while her friend Heidi Hastings pilots her own plane.
Keim buys about 20 turkeys at a time, with the help of donations, usually by people reaching out to her through Facebook. She wraps them in plastic garbage bags and lets them sit in the bed of her pickup until she can arrange a flight.
“Luckily it’s cold in Alaska, so I don’t have to worry about freezers,” she said.
She contacts families on social media to let them know of impending deliveries, and then they buzz the house so the homeowners will come outside.
“We won’t drop the turkey until we see them come out of the house or the cabin, because if they don’t see it fall, they’re not going to know where to look,” she said.
It can be especially difficult to find the turkey if there’s deep snow. A turkey was once missing for five days before it was found, but the only casualty so far has been a lost ham, Keim said.
Keim prefers to drop the turkey on a frozen lake if possible so it’s easy to locate.
“As far as precision and hitting our target,
I am definitely not the best aim,” she joked.
“I’ve gotten better, but I have never hit a house, a building, person or dog.” Her reward is the great responses she gets from families, some who record her dropping the turkeys and send her videos and texts of appreciation.
“They just think it’s so awesome that we throw these things out of the plane,” Keim said. Ultimately, she hopes to set up a nonprofit organization to solicit more donations and reach people across a bigger swath of the state. And it doesn’t have to stop at turkeys.
“There’s so many kids out in the villages,” she said. “It would be cool to maybe add a stuffed animal or something they can hold.”
Bohrer reported from Juneau, Alaska.
US military support for Ukraine. “There are no easy answers to Ukraine’s serious manpower shortage, but lowering the draft age would help,” said Bradley Bowman, senior director of the Center on Military and Political Power at the Foundation for Defense of Democracies. “These are obviously difficult decisions for a government and society that has already endured so much due to Russia’s invasion.” Ukraine has taken steps to broaden the pool of draft-eligible men, but the efforts have only scratched the surface against a
Congress and other opposition parties have accused the government of Prime Minister Narendra Modi of protecting Adani, an Indian coal magnate.
“I don’t appreciate the manner of protest,” Birla said, adjourning the session over the opposition disruptions. The session later resumed but was adjourned for the day with the deadlock between the government and the opposition continuing.
Proceedings in Parliament’s upper house were also adjourned, and the Congress party was unyielding in its stance.
The opposition called for a joint committee to investigate Adani’s companies, which include agriculture, renewable energy, coal and infrastructure.
Adani, 62, one of Asia’s richest
men, was thrust into the spotlight last week when US prosecutors in New York charged him and seven of his associates with securities fraud, conspiracy to commit securities fraud, and wire fraud. The charges allege that Adani duped investors in a massive solar project in India by concealing that it was being facilitated by bribes.
The indictment outlines an alleged scheme to pay about $265 million in bribes to Indian government officials.
The Adani Group, in a statement last week, said the allegations by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless.
“The charges in the indictment are allegations and the defendants are presumed innocent unless and
until proven guilty. All possible legal recourse will be sought,” the statement said.
In the absence of a statement by the Indian government, Amit Malviya, the governing Bharatiya Janata Party’s IT head, also said in a post on the social media platform X that the US charges are “allegations and the defendants are presumed innocent unless and until proven guilty,” which critics interpreted as a show of support by the Modi government for the Adani Group.
The controversy has already affected Adani’s interests overseas. Kenya’s president canceled multimillion-dollar deals with the Adani Group for airport modernization and energy projects.
Adani will also face scrutiny in Sri Lanka and Bangladesh.
A Sri Lankan government spokesperson said earlier this week that it is reviewing projects to be implemented by the Adani Group in Sri Lanka. The group was set to invest over $440 million under a 20-year agreement to develop 484 megawatts of wind power in the northeastern regions of Sri Lanka and develop a terminal in the Colombo port.
“We are taking it seriously. The foreign ministry and the finance ministry are inquiring into it. We will take the decision according to the reports of both ministries,” spokesperson Nalinda Jayatissa said.
Bangladesh’s interim government is reviewing an agreement under which the Adani Group supplies electricity to Bangladesh from a power project in India.
Trump claims victory on immigration talks; Mexican president denies closing borders
By Fatima Hussein The Associated Press
WEST PALM BEACH, Fla.—President-elect
Donald Trump declared a win on stopping illegal immigration through Mexico on Wednesday after talking with that country’s leader. But Mexican President Claudia Sheinbaum suggested Mexico was already doing its part and had no interest in closing its borders.
The two spoke just days after Trump threatened to impose sweeping new tariffs on Canada and Mexico as part of his effort to crack down on illegal immigration and drugs.
Trump said Sheinbaum “agreed to stop Migration through Mexico.” Sheinbaum indicated separately on social media that she told Trump that Mexico is already “taking care of” migrant caravans, calling it an “excellent conversation.”
“We reiterate that Mexico’s position is not to close borders but to build bridges between governments and between peoples,” Sheinbaum added.
While the state of the proposed
tariffs remained unclear, Trump said in a post on his Truth Social account that this was “effectively closing our Southern Border.” He called it a “very productive conversation.”
The exchange between the two leaders appeared to confirm for Trump the value of threatening to disrupt trade with import taxes. His initial social media post moved financial markets and gave him a response he was quick to describe as a win. Even if the proposed tariffs fail to materialize, Trump can tell supporters that the mere possibility of them is an effective policy tool and continue to rely on tariff threats.
Sheinbaum wrote on social media that the leaders “discussed Mexico’s strategy on migration issues, and I told him the caravans are not reaching the northern (US) border, because Mexico is taking care of them.”
“We also talked about reinforcing cooperation on security issues, within the framework of our sovereignty, and the campaign we are carrying out to prevent fentanyl consumption,” she said.
Illegal migration across the Mexico border is down in part
because the Biden administration secured some stepped-up cooperation from Mexico—the sort Trump seems to be celebrating. Arrivals at the US-Mexico border have dropped 40 percent from an all-time high in December. US officials mostly credit Mexican vigilance around rail yards and highway checkpoints.
Driven by mounting pressure from the US to block migrants going north, in the past few years Mexican authorities have turned to rounding them up across the country and sending them to southern Mexico, in a strategy seen by experts as an attempt to wear migrants out until they give up.
Neither side clarified the status of the tariffs. But their implementation could fuel higher prices and slow economic growth, potentially blowing up the trade agreement among the US, Canada and Mexico that was finalized in 2020 during Trump’s previous time in the White House.
Trump on Monday said he would impose a 25 percent tax on all products entering the country from Canada and Mexico as one of his first executive orders upon
taking office on Jan. 20. He also proposed an additional 10 percent tariff on China tied to its exporting of materials used in the production of fentanyl.
In announcing his plans, he railed against the flow of fentanyl and migrants crossing into the US illegally, even though southern border apprehensions have been hovering near four-year lows.
On Wednesday, Trump also posted that he plans a large-scale ad campaign to explain “how bad Fentanyl is for people to use,” predicting it would educate people on “how really bad the horror of this Drug is.”
The dangerously powerful opioid was developed to treat intense pain from ailments like cancer but has increasingly been mixed with other drugs in the illicit drug supply.
Through September, the United States has imported $378.9 billion in goods from Mexico, $322.2 billion from China and $309.3 billion from Canada.
The Associated Press writers Jill Colvin in New York and Mark Stevenson in Mexico City contributed to this report.
China releases 3 Americans jailed for years; Beijing says US returned 4 people to China
By Eric Tucker, Aamer Madhani & Matthew Lee Associated Press
WASHINGTON—Three American citizens imprisoned for years by China have been released and are returning to the United States, the White House said Wednesday, announcing a rare diplomatic agreement with Beijing in the final months of the Biden administration.
The Chinese government also announced Thursday that the US had returned four people to China, including at least three Chinese citizens who it said had been held for “political purposes,” and a person who
much larger Russian military. In April, Ukraine’s parliament passed a series of laws, including one lowering its draft-eligible age for men from 27 to 25, aimed at broadening the universe of men who could be called on to join the grinding war. Those laws also did away with some draft exemptions and created an online registry for recruits. They were expected to add about 50,000 troops, far short of what Zelenskyy said at the time was needed.
Zelenskyy has consistently stated that he has no plans to lower the mobilization
had been sought by Beijing for crimes and had been living in the United States. It did not identify the four.
The three Americans released by Beijing are Mark Swidan, Kai Li and John Leung, all of whom had been designated by the US government as wrongfully detained by China.
Swidan had been facing a death sentence on drug charges while Li and Leung were imprisoned on espionage charges.
“Soon they will return and be reunited with their families for the first time in many years,” the White House said in a statement.
The release comes just two months after China freed David Lin, a Christian pastor from California who had spent nearly 20 years behind bars after being convicted of
age. A senior Ukrainian official, who was not authorized to comment publicly and spoke on condition of anonymity, said Ukraine does not have enough equipment to match the scale of its ongoing mobilization efforts.
The official said Ukrainian officials
contract fraud.
US-China relations have been roiled for years over major disagreements between the world’s two largest economies on trade, human rights, the production of fentanyl precursors, security issues that include espionage and hacking, China’s aggressiveness toward Taiwan and its smaller neighbors in the South China Sea, and Beijing’s support for Russia’s militaryindustrial sector.
The release of Americans deemed wrongfully detained in China has been a top agenda item in each conversation between the US and China, and Wednesday’s development suggests a willingness by Beijing to engage with the outgoing Democratic administration
before Republican President-elect Donald Trump’s return to the White House in January. Trump took significant actions against China on trade and diplomacy during his first term. He has pledged to continue those policies in his second term, leading to unease among many who fear that an all-out trade war will greatly affect the international economy and could spur potential Chinese military action against Taiwan.
Still, the two countries have maintained a dialogue that has included a partial restoration of military-to-military contacts. President Joe Biden and Chinese leader Xi Jinping met this month to discuss potential improvements.
Despite awareness of the climate crisis, many Filipinos fail to mitigate its effects
The recent harvard humanitarian Initiative (hhI) survey findings on climate change awareness and adaptation among Filipinos paint a concerning yet revealing picture. While the vast majority (85 percent) of Filipinos are aware of the climate crisis, a troubling 66 percent have taken no action to mitigate its effects. This stark inaction highlights the urgent need to bridge the gap between knowledge and meaningful, widespread action. (Read the BusinessMirror story: “Pinoys aware of climate change, yet few adapt,” November 27, 2024).
The survey results demonstrate that Filipinos recognize the gravity of the situation, with nearly half (46 percent) expecting significant climate impacts within the next five years. However, the adaptation efforts undertaken so far, while commendable, remain limited in scope. The focus has primarily been on environmental measures like tree planting and energy/water conservation, while critical socioeconomic adaptations, such as livelihood changes and relocation, have been largely neglected.
Notably, the regions hit hardest by disasters, like Central and Eastern Visayas, show higher climate awareness and adaptation rates. This underscores the importance of lived experience in driving action. Conversely, the Bangsamoro Autonomous Region in Muslim Mindanao, which has lower climate change awareness and adaptation, faces heightened vulnerabilities due to its heavy reliance on agriculture.
The socioeconomic disparities revealed in the survey are also deeply concerning. Wealthier, more educated individuals are more likely to take adaptive actions, while those with limited resources and education remain disproportionately vulnerable. This further perpetuates cycles of inequality and threatens to leave behind the most marginalized communities.
The government’s lackluster efforts have also contributed to this inertia, with only 22 percent of Filipinos satisfied with the climate change response. This lack of leadership and investment in comprehensive, equitable adaptation strategies is unacceptable. The government must urgently collaborate with communities, civil society, the private sector, and academia to develop and implement robust, inclusive climate action plans.
Improving communication and education on personal preparedness, especially for socioeconomically vulnerable groups, will be crucial. Raising awareness is not enough; the government has a critical role to play in enabling and empowering the people to take concrete action in response to the escalating climate crisis, providing them with the necessary support and resources to adapt to the changing climate.
Health risks associated with climate change are also underestimated, with only 26 percent of Filipinos expressing concern over potential health impacts. This lack of awareness could lead to dire consequences as rising temperatures and extreme weather events threaten to amplify health issues, from heatrelated illnesses to mental health challenges.
While the high level of awareness among Filipinos regarding climate change is promising, it must translate into meaningful action. Education and community engagement are vital tools in this fight. The time for dialogue is over; we must move towards decisive actions that empower individuals and communities, particularly those most at risk.
By bridging the gap between awareness and adaptation, the government, in partnership with all stakeholders, can chart a course towards a more resilient, sustainable, and equitable future for all Filipinos. Failure to do so will only exacerbate the burdens shouldered by the most vulnerable, with devastating consequences for the nation as a whole.
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The basketball coaches of UP Fighting Maroons
BDennis Gorecho
Kuwentong Peyups atbp.
ehInD every successful basketball team is a good coach. Coaching typically encompasses developing players’ basketball knowledge, the improvement of individual and team offensive and defensive skills, as well as overall physical conditioning.
Basketball coaching skills may include a combination of soft skills, such as discipline, as well as more technical skills, such as the basics of shooting, passing, dribbling, and rebounding so players can react appropriately in game situations.
“Every game whether it be a win or a loss, we really tried to find things to improve on. The losses made the team stronger and it made us communicate more, made us look at even the little things that we need to work on,” Coach Goldwin Monteverde of University of the Philippines (UP) said in an interview.
UP is one of the four founding members of the University Athletic Association of the Philippines (UAAP) in 1938. There are presently eight member universities, composed of UP, Adamson, Ateneo
de Manila University, De La Salle University (DLSU), Far Eastern University (FEU), National University (NU), University of the East (UE), and University of Santo Tomas (UST).
The UP Fighting Maroons Men’s Basketball Team (UPMBT) won their first title all the way back in 1939 (Season 2) but it was a title they shared with FEU and UST.
UP then followed it up 47 years later in 1986 (Season 49). Then there was the 36 years of championship drought, until its third title in 2022 (Season 84).
Under the tutelage of coach Joe Lipa and with the triumvirate of Eric Altamirano, Ronnie Magsanoc, and Benjie Paras, UPMBT was declared the Season 49 champions by defeating the then powerhouse UE Red Warriors. With the Game
Coaching typically encompasses developing players’ basketball knowledge, the improvement of individual and team offensive and defensive skills, as well as overall physical conditioning.
2 final score of 98-89—Altamirano made 27 points, Paras made19 points, and Magsanoc made 16 points. Altamirano bagged the Finals MVP award that year. I entered the Diliman a year later (1987) but I still felt the championship euphoria as I often see Benjie Paras around the campus. His son, Kobe, played for the UP Maroons in 2019.
Based on data available, I was only able to identify UP coaches from 1978 to present. They were: Emilio “Jun” Bernardino, 1978 to 1979; Joe Lipa,1981 to 1986; Ramon Bernabe,1987 to 1988; Rey Madrid 1989 to 1993; Lipa again in1994; Orly Bauzon, 1995 with Altamirano as interim coach, who passed the job to Lipa; Altamirano in 1996 to 1997; Nic Jorge, 1997 to 1999; Ryan Gregorio, 2000 to 2002; Allan Gregorio, 2002; Lito Vergara, 2003 to 2005; Lipa, 2006 to 2007; Aboy Castro, 2008 to 2010; Potit de Vera (interim), 2010; Boyet Fernandez (acting), 2010; Ricky Dandan, 2011 to 2013; Madrid was interim head coach in 2013 and main coach
in 2014 to 2015; Rensy Bajar, 2015; Bo Perasol, 2016 to 2020; and Goldwin Monteverde, 2021 to present. In terms of years, Lipa had the longest tenure with 10 years, followed by Madrid with eight years, then Perasol and Monteverde (to date) with four years, then Altamirano, Castro, Dandan, Ryan Gregorio, Jorge, and Vergara with three years each, then Bernabe and Bernardino with two years each, then Bauzon and Allan Gregorio with one year each. Lipa was a UP School of Economics graduate who played with the Maroons in 1963 to 1966. Starting in 1981, he was assigned to handle the UP Maroons after serving as assistant coach way back in 1978 and led UP to its championship in 1986. The 1986 championship year marked Lipa’s sixth season as head coach. He previously led UP to the finals in 1982 and 1983, but failed to claim the crown in both instances— UE won in 1982, and FEU triumphed in 1983.
Altamirano became a member of the Philippine national team that took home the bronze medal at the 1986 Asian Games in Seoul, who were then mentored by UP coach Lipa. He then became a UP coach himself in 1995 (interim) then as head coach from 1996 to 1997.
Perasol was a former player
See “Gorecho,” A15
Canada’s premiers urge Trudeau to strengthen border security after Trump tariff threat
By Melissa Shin & Laura Dhillon Kane
CanaDa’s premiers are urging Prime Minister Justin Trudeau to step up border security and defense spending to assuage Us President-elect Donald Trump’s concerns, with the leader of the largest province calling the federal government “slow to react” and “stuck on its back foot.”
Ontario’s Doug Ford said after a meeting of the premiers and prime minister on Wednesday that he has been pushing Trudeau’s government for months to show that Canada cares about US economic and security worries. He said it simply hasn’t moved quickly enough.
“I expressed my hope that this evening’s meeting is the start of a more proactive approach from the federal government, including by showing that it takes the security of our border seriously,” Ford said in a statement. If it doesn’t, he said, it risks the “economic chaos of Trump tariffs.”
The blunt statement, sent after a meeting that Trudeau hoped would unify premiers under a “Team Canada” banner to oppose the tariff threat, underscores a key challenge for the prime minister during a second Trump administration. While Trudeau was new to office and relatively popular the first time around, that isn’t the case anymore—and he faces a coterie of premiers with their own grievances about his policies. Ford was joined by Quebec Premier Francois Legault, Alberta Premier Danielle Smith and Manitoba Premier Wab Kinew, who all made
The blunt statement, sent after a meeting that Trudeau hoped would unify premiers under a “Team Canada” banner to oppose the tariff threat, underscores a key challenge for the prime minister during a second Trump administration. While Trudeau was new to office and relatively popular the first time around, that isn’t the case anymore— and he faces a coterie of premiers with their own grievances about his policies.
statements demanding stronger action from the government. Legault, for his part, has long-standing concerns about migrants entering his province from the US, while Smith took the opportunity to criticize Trudeau’s emissions cap on the oil and gas sector.
Deputy Prime Minister Chrystia Freeland and Public Safety Minister Dominic LeBlanc emerged from the premiers’ meeting to reiterate that they plan to boost border security. LeBlanc said that will include investments in law enforcement and local police, but did not provide specific dollar amounts or timelines. There is a need for more “visible and public-facing measures” at the border, LeBlanc said. “The plan is here, it will evolve, and we will reassure Canadians and Americans that the people are in place.”
“Now is not the moment to squabble among ourselves,” Freeland said.
“There really was a strong agreement among every single person on the call that this is a challenge. The way we meet that challenge and the way we serve Canadians is by being strong, smart and united and by playing for See “Canada,” A15
Antonio L. Cabangon Chua Founder
2005
US seen tightening tech export restrictions on China, impacting semiconductor equipment and AI memory chips
By Mackenzie Hawkins
ThE Biden administration is weighing additional curbs on sales of semiconductor equipment and ai memory chips to China that would escalate the US crackdown on Beijing’s tech ambitions but stop short of some stricter measures previously considered, according to people familiar with the matter.
The restrictions could be unveiled as soon as next week, said the people, who emphasized that the timing and contours of the rules have changed several times, and that nothing is final until they’re published. The measures follow months of deliberations by US officials, negotiations with allies in Japan and the Netherlands, and intense lobbying by American chip equipment makers who’ve warned that tougher measures would bring catastrophic harm to their business.
The latest proposal has key differences from earlier drafts, the people said. The first is which Chinese companies the US would add to a trade restriction list. The US had previously considered sanctioning six suppliers to Huawei Technologies Co.—the telecom giant at the center of China’s tech industry— and officials are aware of at least a half dozen more, the people said. But they now plan to add only some of those Huawei suppliers to the entity list, with the notable omission of ChangXin Memory Technologies Inc., which is trying to develop AI memory chip technology.
Spokespeople for the Commerce Department’s Bureau of Industry and Security declined to comment. A spokesperson for the National Security Council referred questions to BIS. Japanese chip stocks jumped on the news. Tokyo Electron Ltd. rose as much as 10 percent, paring losses in early trading. Screen Holdings Co. also gained about 10 percent and Kokusai Electric Corp. surged 23 percent.
The rules now under consideration would also sanction two chip factories owned by Semiconductor Manufacturing International Corp., Huawei’s chipmaking partner, the people said. More than 100 additional entity listings would focus on Chinese companies that make semiconductor manufacturing equipment, the people said, rather than fabrication facilities that make the chips themselves. Wired reported earlier the US could come out with new export controls rules as soon as next Monday.
That’s a partial win for American chip gear makers—Lam Research Corp., Applied Materials Inc. and KLA Corp.—that have argued for months against unilateral US restrictions on key Chinese companies, including the six Huawei suppliers. They’ve claimed that such sanctions would put them at an unfair disadvantage compared to foreign rivals Tokyo Electron and Dutch equip-
and team captain of the UPMBT from the year 1990 to 1994 then a head coach from 2016 to 2020. He is the current director of the UP o f fice of Athletics and Sports Development.
Monteverde was part of the 1986 winning UPMBT team under coach Lipa. He became the head coach of the UPMBT in 2022 and won the UAAP Season 84 championship when they dethroned the Ateneo Blue Eagles in Finals Game Three on May 13, 2022 at the MoA Arena. Lipa said in an interview on the 1986 victory: “It was historic, and everybody was celebrating. We all find the team in the headlines; even non-sports writers and non-sports columnists wrote about the game.
Eastern European central banks fortify gold reserves amid rising geopolitical tensions
EThe latest proposal has key differences from earlier drafts, the people said. The first is which Chinese companies the US would add to a trade restriction list. The US had previously considered sanctioning six suppliers to Huawei Technologies Co.—the telecom giant at the center of China’s tech industry—and officials are aware of at least a half dozen more, the people said. But they now plan to add only some of those Huawei suppliers to the entity list, with the notable omission of ChangXin Memory Technologies Inc., which is trying to develop AI memory chip technology.
ment giant ASML Holding NV, whose governments have not yet agreed to the toughest restrictions on sales to China. Japan and the Netherlands imposed some China curbs to partially match US measures from 2022, but both countries have resisted recent American pressure for even tighter controls.
American officials this summer tried a hardball negotiation tactic with allies by warning that the US could directly curb the China sales of foreign companies, a step that Japan and the Netherlands viewed as a draconian overreach. The US hope was that threatening to use the socalled foreign direct product rule, or FDPR, would prompt allies to impose their own curbs. But Tokyo and the Hague have shown little interest in aligning with the Biden administration ahead of President-elect Donald Trump’s return to power.
The new US rules, which also restrict some additional tool categories, would still exempt allies including Japan and the Netherlands from FDPR provisions, people familiar with the matter said. It’s unclear whether Japan or the Netherlands will eventually impose additional restrictions on the Chinese companies that the US now plans to sanction. The latest version of the US controls also would include some provisions around high-bandwidth memory chips, which handle data storage and are essential to artificial intelligence. Samsung Electronics Co. and SK Hynix Inc. along with American memory maker Micron Technology Inc. are expected to be affected by the new measures, the people said. Bloomberg
one of the most remembered statements was, “It was a victory which was felt in these walls of progress as well as in the Cordillera’s mountains. Everyone celebrated.” Monteverde is the main coach that is guiding the current UPMBT as they entered the Final Four stage of this year’s Season 87 along with DLSU, UST and Adamson. UP is this season’s host. It earlier hosted UAAP 12 times for seasons 12 (1949–50),16 (1953–54), 20 (1957–58), 26 (1963–64), 31 (1968–69), 36 (1973–74), 42 (1979–80), 46 (1983–84), 54 (1991–92), 62 (1999–2000), 71 (2008–09) and 78 (2015–16).
Peyups is the moniker of the University of the Philippines. Atty. Dennis R. Gorecho is the Junior Partner of the Sapalo Velez Bundang Bulilan Law Offices. For comments, e-mail info@sapalovelez. com, or call 0917-5025808 or 0908-8665786.
By Peter Laca, Agnieszka Barteczko & Misha Savic
arliEr this year, the Czech republic’s central bank chief flew to london to have a look at a swelling stack of gold bars stored in the Bank of England’s concrete-encased vaults beneath Threadneedle Street.
Ales Michl’s mission to inspect the precious metal held for the Czech National Bank was part of the governor’s stated ambition to double the country’s stockpile to 100 metric tons in the next three years. It’s increased fivefold since he took office in 2022 with an aim to diversify the bank’s reserves.
“We need to reduce volatility,” Michl, who grew animated when queried on the subject, told Bloomberg Television earlier this month. “And for that, we need an asset with zero correlation to stocks, and that asset is gold.”
The Czech policymaker isn’t alone in accelerating bullion purchases. Peers from Warsaw to Belgrade are joining the gold rush as a way to diversify investments and bet on future price increases, making eastern Europe one of the biggest buyers of the metal and helping to drive the gold rally.
Central banks around the world are stocking their gold arsenals as a shield against external shocks such as prospective trade wars brought on by Donald Trump’s second presidency and geopolitical tensions in Ukraine and the Middle East. But eastern European monetary guardians have made a particular show of topping up their gold piles.
In addition to Michl’s foray to London, his counterpart in Warsaw has penned a movie script on the history of Polish gold. Serbian authorities hauled their stockpile held
abroad home to keep it safer in Belgrade—and help cut storage costs.
Striving for a sense of security is a powerful motive in a region that’s been ravaged by Europe’s wars of the past—and that now finds itself next door to the continent’s deadliest conflict since World War II.
‘An exclusive club’
PoL AND, which shares a border with Ukraine and is a staunch supporter of Kyiv’s war aims, was the largest buyer of gold globally in the second quarter, according to the World Gold Council’s latest data.
Poland’s central bank governor, Adam Glapinski, said gold and hard currency reserves are crucial to protecting the economy against catastrophic events. He increased bullion holdings to some 420 tons as of September, about half the stockpile of India or Japan.
“We are entering the exclusive club of the world’s biggest gold owners,” Glapinski gloated during a news conference last month, reinforcing his aim to raise gold’s share to 20 percent of all reserves.
The head of the National Bank of Poland lamented having no time to work on his draft script. A YouTube video produced by the central bank in February shows Glapinski basking in a vault lined with sealed boxes of six thousand gold bars, intoning that the stash “is the property of all Polish people.”
The Czechs are also prospective
The Czech policymaker isn’t alone in accelerating bullion purchases. Peers from Warsaw to Belgrade are joining the gold rush as a way to diversify investments and bet on future price increases, making eastern Europe one of the biggest buyers of the metal and helping to drive the gold rally.
club members. The central bank in Prague boasts about $150 billion in foreign reserves—nearly half of gross domestic product—one of the world’s biggest by proportion.
Michl, whose diversification drive includes US stock purchases, has confronted some criticism for buying gold as it reached a market record this year. Monetary officials have pushed back by insisting that the long-term purchases are gradual, reducing the impact of price volatility.
With the geopolitical winds churning, gold purchases have been a good bet for monetary policymakers.
Goldman Sachs Group Inc. listed the metal among top commodity trades for 2025, saying prices could extend gains during Trump’s presidency and reach $3,000 an ounce by December next year.
“Geopolitical fragmentation is favorable for gold, while gradual dollar weakening should be a further tailwind,” Bank J. Safra Sarasin said in a report from November 10.
For eastern Europe’s leaders, gold is viewed as a safe harbor—and a political selling point—as they maintain often complex balancing acts between the West, Russia and China. The Hungarian central bank has boosted its gold stash by more than a 10th to 110 tons this year.
The country’s Prime Minister
Trump tariffs risk exposing UK firms more than European peers
By Irina Anghel
am Er iCa nS are big buyers of British exports such as la nd rovers, machinery, chemicals and a string of blockbuster pharmaceuticals—a special relationship that leaves UK companies particularly exposed to Donald Trump’s plan to push up tariffs.
While it remains unclear how the US president-elect’s policies will affect Britain, he campaigned on a pledge to raise tariffs as much as 20 percent on goods from most countries in the world, with higher rates for China and Mexico.
Data provided by the McKinsey Global Institute and UN Comtrade shows the US as the leading destination for nine out of 15 sectors of British goods exports. The same figures show the US as the top customer for only four German sectors, by comparison, and one from France.
“Where goods only are concerned, the US has a more dominant share of UK exports in many sectors than would be the case for key countries in the EU,” said Tera Allas, director of research and economics at McKinsey UK & Ireland.
Britain’s large services sector will give it some relief from Trump’s plans, with certain shares potentially offering a safe haven. Yet the UK’s goods exports are not insignificant. Large manufacturers with more than 250 workers employ, in total, about
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Team Canada.”
Trudeau called the meeting this week after multiple provincial leaders raised the alarm over Trump’s threat to impose tariffs on Canada and Mexico unless the countries stop the flow of fentanyl and undocumented migrants over their borders—even though these issues are largely confined to the Mexico
1 million people according to official figures earlier this year, and make up the bulk of the factory sector’s £68 billion ($86 billion) in revenue. Almost a fifth of the UK’s $89 billion in transport equipment sales—the country’s second biggest export—came from the US in 2022, according to the McKinsey data. The sector includes RollsRoyce Holdings Plc, which earned almost a third of its global sales from North America in 2023; however, the FTSE 100 engineering titan also has significant operations in US states such as Indiana, Michigan and South Carolina.
The US made up almost a quarter of Jaguar Land Rover’s £29 billion revenue in its last financial year, and 42 percent and 52 percent of sales respectively for AstraZeneca Plc. and GSK Plc. Both pharmaceutical companies are working to beef up their manufacturing presence in the US.
Trade between America and Britain was worth in excess of £300 billion in the year through March, with no other country accounting
crossing. on Wednesday, Mexican President Claudia Sheinbaum spoke by phone with Trump, telling him her country was already preventing migrants from reaching the US border. Trump later posted on Truth Social that Sheinbaum “has agreed to stop Migration through Mexico, and into the United States, effectively closing our Southern Border.” (Trump has not posted about his phone call with Trudeau earlier this week.)
The Canadian premiers all called
Viktor orban has relished being the EU’s chief disruptor with his ties to the Kremlin and Trump.
The central bank in Budapest has also lauded the metal as a safe haven. But gold has a role in the country’s historic identity.
The Money Museum, located in one of the palaces owned by the Hungarian National Bank, features a steam locomotive fashioned from yellow bars. The sculpture, called “The Rumble,” depicts the central bank’s staff, which fled the Soviet military at the end of World War II on a train loaded with gold reserves to prevent it from falling into foreign hands.
The associations figure no less in Serbia, where President Aleksandar Vucic, who like orban holds a firm grip on power, had the country’s stockpile held outside the country repatriated in 2021. This year, he promised to buy bullion with “every surplus of money” that’s left in state coffers “to be safe and secure in hard times.”
Serbia’s central bank governor, Jorgovanka Tabakovic, has overseen a tripling of gold reserves to 48 tons since taking office in 2012. The accumulation was handled closely with Vucic, who provided the “strategic thinking, knowledge of global geopolitical relations and information” to back the gold purchases, she said.
“Gold is gaining value and importance in times of global turbulences, especially in geopolitical conflicts and periods of high inflation,” Tabakovic said in e-mailed response to questions. “Unfortunately, in recent years we’ve seen both factors at play.” With assistance from Krystof Chamonikolas, Andras Gergely, Andrea Dudik, Francine Lacqua and Robert Brand /Bloomberg
Data provided by the McKinsey Global Institute and UN Comtrade shows the US as the leading destination for nine out of 15 sectors of British goods exports. The same figures show the US as the top customer for only four German sectors, by comparison, and one from France.
for more of the UK’s imports or exports. Almost two-thirds comes from tariff-exempt services, with goods exports only making up a couple of percentage points to GDP, signaling that the aggregate impact of Trump’s tariffs is likely to be limited.
Yet by targeting the handful of big companies that dominate UK manufacturing services, Trump’s latest protectionist drive could still have a ripple effect on jobs, revenue and growth. Bloomberg Economics recently warned that in a worst-case scenario Trump’s trade policies could drag UK GDP below 1 percent. Even if he takes a more gradual, measured approach, the uncertainty over his plans is likely to weigh on demand.
Pharma and factories
SECToR S such as pharmaceuticals, medical and scientific instruments, machinery and transport equipment are particularly exposed to the US, relying on the American market for around 20 percent of exports.
“These sectors are likely to be targeted by Trump tariffs,” said Maxime Darmet, senior economist for the US, UK and France at Allianz Trade. “For instance, machinery & equipment are core manufacturing goods for which the US runs a trade deficit against most countries and would like to re-shore the production on US soil.”
When AstraZeneca CEo Pascal Soriot was recently asked about the impact of the Trump administration and potential tariffs, he said that typically pharmaceuticals aren’t included in such measures.
Since Brexit, the UK has held high hopes of a trade deal with the US, and the governing Labour party has stressed its commitment to free trade in recent weeks. However, officials warned ministers that previous attempts to strike a deal proved difficult, partly due to disagreements over climate change, tariffs and government procurement. With assistance from Ashleigh Furlong and Lucy White /Bloomberg
“UK goods exports look very exposed to potential Trump tariffs,” said Emily Fry, senior economist at the Resolution Foundation, a think tank. “The US is our biggest goods export market, and several sectors such as pharmaceuticals have high exposure.”
for more spending on law enforcement. Alberta’s and ontario’s leaders each pledged to use local police forces to strengthen border security, and Manitoba’s premier, Kinew, said the federal government told him he would receive new resources.
Kinew also pushed Canada to spend at least 2 percent of its gross domestic product on the military, a target it agreed to as a member of the North Atlantic Treaty organization. on Monday, Trudeau reiterated in a speech that the country would meet that target by 2032. Ford and other premiers have called for Canada to negotiate a bilateral trade deal with the US if necessary—effectively cutting Mexico out of the current structure of a three-way regional accord, due to its economic relationship with China. While Trudeau has also raised concerns about Mexico’s trade with China, he has said he prefers to keep the trilateral deal in place and sees Mexico as a “solid partner.” With assistance from Brian Platt /Bloomberg
Friday, November 29, 2024
2nd Front Page
Govt mulls over strategies for expanding food supplies
By Cai U. Ordinario @caiordinario & Ada Pelonia @adapelonia
The national government is currently weighing options for beefing up the supply of rice and other key commodities after a series of typhoons struck the Philippines and the recent weakening of its currency.
In a briefing in Malacañang on Thursday, Socioeconomic Planning
Secretary a r senio M. Balisacan said the focus of the economic team is food security and not just affordability.
Balisacan, who also serves as Secretary of the n a tional Economic and Development a u thority ( n e da), said food security focuses on access or if Filipinos have access to food items; affordability, whether Filipinos can buy food; and availability, if these food items are available for consumption.
“We’re not just focusing on price because rice may be priced at P28 or P30 or P40 but if it’s not available everywhere in the country, that’s not how we want
to proceed,” Balisacan said. He also said interventions that the government can implement, especially when it comes to its food staple, are limited to the short-term.
“Prices are not completely in our control because these are influenced by factors like world prices, these are influenced by calamities,” Balisacan said.
“We can only intervene in the shortterm but over the long haul it is best for the country to follow the trends in the market, of course, assuring that those who have less in life are given assistance to be able to cope with, say rising prices,” he added.
Balisacan also said the depreciation
of the peso is bound to affect the cost of food. It can be noted that the country is a net food importer and as such, it purchases food in dollars.
On Thursday, the peso closed at P58.711 to the US dollar. This was an improvement from the P58.71 close on Wednesday.
This week, the peso traded at its weakest when it closed at P59 on Tuesday, n o vember 26. Prior to this, the peso hit P59 against the US dollar last week, n o vember 21, the first time after Octover 17, 2022. a n alysts have already touted the P59 level as the psychological threshold for the peso and was expected to be inflationary. (See: https://businessmirror.com.ph/2024/11/22/weak-peso-may-spurinflation-analysts/).
“We are focused on reducing prices as to where, how far that we’ll go. From my view, we’ll have to be a little bit more careful because of the strong dollar. a n d that will impact the prices of rice too, as well as other goods,” he said.
Kadiwa rice
T HE D epartment of a g riculture (Da ) said Thursday it plans to roll out its cheaper rice program in all major public markets as part of efforts to curb
persistently high retail rice prices.
a g riculture Secretary Francisco
P. Tiu Laurel Jr. said the sale of the Kadiwa Rice-for- a l l program comes in response to the disparity of reduced tariffs on imported rice and the unusually high prices at the retail level.
“Even with the tariff reduction, retail prices remain unusually high. I have actual price bulletins of wholesale imported rice, and it’s really only at P37 to P38 per kilo. With low tariffs and declining international prices, there’s no reason for the continued high retail prices,” Laurel said.
The Da said it is in talks with importers who committed to supply Kadiwa rice at P42 per kilo to ensure affordable options for consumers. It added that this move is expected to help bring down the retail rice prices while maintaining healthy market competition.
The prevailing retail price of imported well-milled and regular milled rice in selected Metro Manila markets is P45 per kilo, based on the Da’s latest price monitoring report.
By Manuel T. Cayon
Cagayan de Oro City— The Philippines has set a g u inness world record for the most people planting bamboo simultaneously, a feat that no other country has attempted before, according to the Department of Science and Technology (DOST).
DOST Secretary Renato Solidum announced this on Thursday before an ecstatic crowd inside the Limketkai Shopping Mall here. Solidum said 2,305 people joined in the simultaneous planting in multiple venues in Leyte and Mindanao last October 18. He said the feat was achieved by the DOST and Kawayanihan partners. Jonathan a g bayani, DOST n orthern Mindanao’s focal person on the g u inness world records attempt, said the simultaneous planting was done in one area in Leyte and 18 areas in Mindanao.
Planting was done in Villaba, Leyte, in Tagoloan and Opol, Misamis Oriental, in the first district of Bukidnon such as Malitbug, Talakag, Manolo Fortich and Sumilao, in Kapalong and Matanao, Davao region, in Buenavista, Caraga region and in
‘PhilHealth funds used for productive projects’
THE P resident’s economic managers made an assurance that funds of the Philippine Health Insurance Corp. (PhilHealth) that were transferred back to the government’s coffers were used for “productive projects.”
This year, the government diverted P89.9 billion of the Philippine Health Insurance Corp. (PHIC) funds to the n at ional Treasury to fund Unprogrammed a p propriations (Ua ).
I don’t have the details or where those funds have actually been used but broadly, yes, because they are meant to address the need for funding those projects that have been identified and programmed for implementation within the year,” Socioeconomic Planning Secretary a r senio M. Balisacan said in a briefing in Malacañang on Thursday.
“So, to the extent that they are in there in our program that has been well-vetted by the economic managers, by the implementing agencies and of course by Congress and if they went to those areas, those should be okay,” he added.
Balisacan noted that all government funds diverted to the n a tional Treasury, regardless of the source--whether the Department of Health or, in this case, PhilHealth, should be used for “productive beneficial projects.”
“We look at spending, public spending in a broader context—we look at the mediumterm, we look at the shortterm because you can’t have for example, focus or put all our [eggs] in the near-term because we also need it to grow so that we can sustain the progress that we have made in the near-term,” Balisacan said. He said projects that would address the country’s infrastructure constraints are considered priorities by the economic team as well as human
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capital investments like health and education.
These investments, Balisacan noted, may not be readily addressed by short-term financing. In contrast, “ayuda” or cash grants that were made popular at the height of the pandemic, when the country was under lockdown, are considered short-term investments.
“They [ayudas] are meant to address the emergencies and a safety net for those who suffer or face shocks like those coming from calamities or unfortunate incidents in families,” Balisacan said.
Finance Secretary Ralph g . R ecto said the Department of Finance (DOF) would respect the Supreme Court’s (SC) temporary restraining order in relation to the petitions filed questioning the utilization of PhilHealth’s idle, unused, and excess funds.
Recto reiterated that the DOF’s move to sweep the idle, unused, and excess funds of governmentowned and controlled corporations (g O CCs) is a mandate under Republic a c t 11975 or the gaa 2 024, which was approved by Congress. The DOF received favorable legal opinions on the matter that PhilHealth’s unutilized government subsidies are not part of its reserve funds, nor income that is being restricted by the Universal Health Care a c t to be used by the national government as a general fund.
(See: https://businessmirror. com.ph/2024/10/29/govt-torespect-scs-tro-decision-onphilhealths-idle-unused-andexcess-funds/). Cai U. Ordinario
Carmen in g e neral Santos City.
a n i nitial estimate of 20,000 bamboos was planted in all areas, with n o rthen MIndanao accounting for the bulk at 75 percent, or 15,000 plants. The other regions were allocated about 1,000 plant materials each, he added.
He said the total actual planting materials would be determined in the next recount, “when we would know how many plants were actually planted and what is the mortality rate because that’s where we focus on how many survived rather than how may were planted.”
The result did not come out immediately saying the g u inness Book
u inness party.”
Bukidnon Rep. Jose Manuel F. a l ba said it was an honor for his province to have the most number of bamboos planted “because we would be known across the country that have a lot of supply of bamboos.”
Congestion in schools linked to lack of coordination
By Bless Aubrey Ogerio
The lack of coordination between housing and education agencies has emerged as a key factor behind the overcrowding in schools, particularly in resettlement areas, according to the Second Congressional Commission on e d ucation ( e D COM 2). e D COM 2 Commissioner Rep. Jude Acidre in a hearing last November 21 noted that resettlement projects often fail to include plans for educational infrastructure, putting undue pressure on existing schools.
“Imagine, you bring in a hundred new families, and how long does it take to build a classroom or a building, other than the fact that you have to put in the teachers and everything?” Acidre said, emphasizing the delayed response to enrollment surges. “It compounds the problem, and the impact is adverse.”
The Pambansang Pabahay Para sa Pilipino (4P h ) P rogram, the government’s flagship housing initiative, plans to construct 6.15 million units by 2028 to reduce the nation’s increasing housing shortage. h owever, the Department of h um an Settlements and Urban Development (D h S UD) revised its target to 3.2 million units, which will cost about P4 trillion. The adjustment was based on a study it conducted with the National e c onomic and Development Authority, which found that the country has a housing deficit of 2.2 million units as of December 2022. (See: https://businessmirror.com. ph/2024/11/18/dhsud-cuts-housing-targetby-2028-from-6-to-3-million/).
Current policies, such as Batas Pambansa 220 from 1982, require classroom construction only for developments exceeding 1,500 units, which fails to account for the cumulative impact of smaller housing projects.
In areas such as Naic, Cavite, three schools accommodate students from 48 resettlement and affordable housing communities. Ciudad Nuevo e lementary School has over 2,000 students but only six classrooms, with some serving up to 200 learners each.
A nearby Timalan h llsview Integrated School saw a 983 percent enrollment increase, jumping from 637 students in 2021 to 6,900 by 2024. Meanwhile, the adjacent National h i gh School’s student-to-classroom ratios surged to 1:256.
See “Congestion,” A2
Editor: Jennifer A. Ng
B1 Friday, November 29, 2024
Megawide bags San Miguel contract for Caticlan project
By Lorenz S. Marasigan @lorenzmarasigan
Infrastructure
firm
Megawide construction corp. announced last Thursday it secured the contract from san Miguel corp. (sMc) to design and construct a new Passenger terminal Building (PtB) for the Godofredo P. ramos International airport (caticlan airport), Malay, aklan.
According to Megawide President and CEO Edgar B. Saavedra, the company has the expertise in engineering and design to build the new terminal. Saavedra, how-
ever, didn’t disclose the value of the contract between the two publicly-listed firms. “We hope to impart our engineering excellence and be able to
integrate our sustainable methodologies to this landmark development,” Saaverda said.
Trans Aire Development Holdings Corp. (TADHC), a subsidiary of SMC Infrastructure, owns and operates the airport.
“Our search for a partnercontractor who shares our vision of modernizing airports in the country has concluded with our partnership with Megawide. We believe that Megawide’s track record of building key infrastructure through efficient and sustainable practices will help us deliver a world-class facility within our committed deadline,” SMC Chairman and CEO Ramon S. Ang said.
The new terminal aims to enhance the airport’s capacity to handle growing passenger traffic, ensuring a seamless travel expe-
rience for visitors to Boracay and nearby destinations.
The new terminal is targeted for completion within three years, with groundbreaking scheduled for December 2024.
SMC holds three airport operations and maintenance contracts with the government, namely: the Caticlan Airport; the future Bulacan Airport; and, the Ninoy Aquino International Airport.
For Megawide, this project adds to its extensive portfolio, leveraging its vertically-integrated engineering, procurement, and construction (EPC) capabilities.
“This will be another exciting opportunity for Megawide – to be able to work with one of the country’s largest and oldest conglomerates, SMC, and help realize its vision of a world- class facility at Caticlan Airport,” Saavedra said.
Globe to use loan from BPI for capex
GLOBE Telecom Inc. has raised P3 billion from a term loan facility with the Bank of the Philippine Islands (BPI), according to a disclosure to the local bourse.
The fresh funds will be used to support Globe’s capital expenditures, debt refinancing, and general corporate requirements.
As of the first nine months of 2024, Globe has invested P41 billion in capital expenditures, marking a 24-percent decrease from the same period in 2023.
Of this amount, 91 percent was allocated for data-related requirements to ensure uninterrupted access to digital solutions and connectivity services.
Globe’s efforts have resulted in the construction of 684 new cell sites and the upgrade of 2,723 existing sites to LTE technology. Additionally, the company deployed 55,076 fiber-to-the-home (FTTH) lines, bolstering its fiber infrastructure to meet increasing consumer demands.
“These initiatives underscore Globe’s strategic focus on enhancing capacity utilization and maximizing network efficiency through prudent spending. These measures not only support Globe’s objective of achieving a positive free cash flow position but also reinforce the company’s mission to ensure equitable connectivity and
empower communities across the Philippines to thrive in the digital economy,” the disclosure read.
The Ayala-led telco started reducing its capital expenditures to achieve positive cash flow by 2025.
For 2024, the company reduced its capex by 23 percent to $1 billion for 2024 and plans to further lower it to below $1 billion in 2025.
Globe reported an attributable net income of P20.58 billion for the first nine months of 2024, a 6.7 percent increase from P19.29 billion in the same period last year.
Gross revenues also showed modest growth, rising by 0.7 percent to P134.74 billion from P133.79 billion year-on-year. Lorenz S. Marasigan
AbaCore issues stock, property dividends
ABy VG Cabuag @villygc
BACORE Capital Holdings
Inc. (PSE: ABA), a holding company with interests in various sectors including energy, real estate and financial services, on Thursday said it issued a stock and property dividends to its shareholders after securing regulatory approval from the Securities and Exchange Commission (SEC).
The stock dividend, initially announced in 2020, is being paid out in line with ABA’s 10-percent dividend
policy of the company. This will be paid on December 12 to stockholders of record as of October 30, 2020, as directed by the SEC. After processing these stock dividends, and with the number of shares of the company being set, ABA will proceed to issue property dividends, which were shares in its subsidiary Philippine Regional Investment Development Corp. (DBA Pride), the company said. The issuance of these dividends were announced by ABA in 2022, along with cash dividends. “These dividends reflect our commitment to ensure our shareholders
enjoy the returns on their investment, with our shareholders directly benefitting from ABA’s financial performance,” Antonio Victoriano F. Gregorio III, vice chairman of ABA and head of investor relations, said. These dividends are aimed at driving shareholders’ support and confidence towards the company.
For every one ABA share held, a shareholder will get 0.0009 of a share in Pride. Each Pride share has a par value of P100, equivalent to a 9 centavo dividend. A shareholder will also get a 1-centavo cash dividend, the company said.
Villar ‘death-care’ business changes name, stock symbol
GOLDEN MV Holdings Inc., which holds the Villar group’s deathcare and socialized housing business, is changing its name to Villar Land Holdings Corp. The company said it secured board approval for the move “to align with the recent developments in the company specifically with the acquisition of companies owning land in Villar City.” As a result, its stock symbol will also change to VLC from HVN. Golden MV’s stock price closed last Thursday at P2,150 apiece, thousand-times bigger than its initial public offering price of P10.50 apiece. Last month, the company’s board has approved the acquisition of three companies from those owned and controlled by Manuel B. Villar Jr., in a transaction valued at about P5.19 billion.
ACEN Corp. completes buy of Paddak Energy
ACEN Corp., the energy unit of the Ayala Group, on Thursday announced the full acquisition of Paddak Energy Corp.
In a disclosure to the stock exchange, ACEN said it subscribed to an additional 1.2 million common shares and 10.8 million preferred shares in Paddak, both at a par value of P1.00 per share.
The total subscription, amounting to P12 million, grants ACEN full ownership of Paddak, which has been designated to provide “technical operations and maintenance-related services” to ACEN’s Philippine operating companies.
ACEN continues to expand its footprint across the Philippines, Australia, Vietnam, India, Indonesia, Lao PDR, and the United States.
The company is on track to deliver 1.6 gigawatts (GW) of new renewable energy (RE) projects this year, nearly doubling its annual output. This addition will bring ACEN’s total portfolio to 4.7 GW, of which 1.9 GW are in the Philippines. With projects coming online, ACEN’s total RE portfolio is projected to approach 6 GW by the end of 2024.
The company remains focused on scaling up its operations to support its goal of achieving 20 GW of renewable capacity by 2030 while providing clean, reliable, and affordable energy across the region.
For the first nine months of 2024, the company reported a 24-percent year-on-year increase in net income, reaching P8.14 billion. Lorenz S. Marasigan
The company said it will buy a substantial amount of the issued and outstanding capital stock of Althorp Land Holdings Inc., Chalgrove Properties Inc. and Los Valores Corp. from Fine Properties Inc. and Hollinger Holdings Corp. These companies own a combined 396.88 hectares of prime land in the Villar City development.
“This strategic acquisition grants Golden MV access to 396.88 hectares of prime land in Villar City, a visionary development that spans 3,500 hectares across Metro Manila and portions of Cavite,” the company said. “The acquired companies will allow Golden MV to concentrate on the development of Villar City, a legacy project of Manuel B. Villar Jr.” While Golden MV focuses on the strategic development of Villar City,
Vista Land and Lifescapes Inc. will continue to develop its own landbank, through Vista Estate, across the country.
Both entities will operate complementary development strategies, with each contributing to the Villar group’s overall vision for sustainable and inclusive urban development.
The group recently announced that the group will construct of two golf courses, a church, an events arena, a university, and an integrated entertainment complex in Villar City, which spans across 15 cities and municipalities.
Golden MV, formerly Golden Bria Holdings Inc., was incorporated on November 16, 1982 and is mainly engaged in the development and sale of memorial lots across various parts of the Philippines. VG Cabuag
Banking&Finance
LandBank to allow loans for emergency expenses
ENSIONERS and government
Pemployees can now avail of a new loan facility from the Land Bank of the Philippines (LandBank) for emergency expenses, medical needs and other urgent financial requirements.
In a statement, LandBank said the Pension and Emergency Relief (PeER) Loan Facility will afford eligible borrowers can secure loans between P20,000 to P100,000 at an interest rate of 10 percent per annum.
“We are committed to expanding our accessible services for our diverse clientele, including extending financial relief during critical circumstances. The new PeER Loan Facility provides timely financial assistance tailored to help them in times of urgent need,” LandBank President and CEO Lynette V. Ortiz said.
The Landbank PeER Loan Facility offers two loan options: the Pension Loan, offered to qualified clients with LandBank pension accounts, and the Emergency Relief Loan, available to regular government employees with Landbank payroll accounts and at least one year of service.
The PeER Loan Facility is part of LandBank’s continuing commit-
ment to promote financial security and resilience, empowering clients to better manage unforeseen expenses with confidence.
Last month, LandBank announced it has sold close to half a billion or P438-million worth of Retail Treasury Bonds Tranche 30 (RTB-30) investments through its online channels.
In a statement it issued last Tuesday, the state-run lender said its sale of the concluded RTB-30 issuance of the national government is “almost three fold” of what it sold in the previous RTB-29 offering. The state raised a total of P584.86 billion from the 10-day-long sale of RTB-30 last February. The amount borrowed from the domestic market is higher than its target of raising P400 billion in RTBs (See: https://businessmirror. com.ph/2024/02/26/more-than%e2%82%b1500b-raised-by-ngvia-tender-of-rtbs/)
The LandBank said it sold and contributed almost 30 percent of the total sales as lead issue manager. It added that its online sales represent “two-thirds” of the total RTB-30 online sales worth P664 million.
Cai U. Ordinario
Sustainable business events champions worldwide
FOLLOWING my post on the Visit Flanders Convention Bureau’s “Travel to Tomorrow” vision for sustainable business events, I found out about other convention bureaus around the world that are also championing sustainability practices.
1. Copenhagen Convention Bureau (Denmark). Known for its commitment to sustainability, the Copenhagen Convention Bureau actively promotes green meeting standards. The city is positioned as one of the most sustainable destinations for business events. They provide planners with the “Copenhagen Sustainability Guide,” which includes guidelines for planning eco-friendly events and partnering with sustainable suppliers. The city’s “Green Key” certification for venues and hotels ensures high standards in environmental management.
2. Gothenburg Convention Bureau (Sweden). Gothenburg has won several accolades for being one of the world’s most sustainable destinations for meetings and events. The Gothenburg Convention Bureau works closely with local stakeholders and promotes a circular economy approach. They also offer support through sustainable venue and supplier recommendations, making it easier for event planners to align with sustainability goals.
3. Glasgow Convention Bureau (Scotland). Glasgow has gained recognition as a leader in sustainable meetings, partially due to its city-wide commitment to the United Nations Sustainable Development Goals (UN SDGs). The Glasgow Convention Bureau offers an “Events Impact Toolkit” so event organizers can calculate the environmental, economic, and social impact of their events. Glasgow is also the first convention bureau to achieve “EarthCheck” community certification which supports sustainable practices across the city.
4. Sydney Business Events (Australia). Business Events Sydney has integrated sustainability into its strategic approach, encouraging ecofriendly practices across venues and services. Sydney’s convention centers, like the ICC Sydney, are designed with sustainability in mind, featuring water conservation measures, energy-efficient systems, and waste reduction practices. They also promote events that contribute to the local economy and community well-being.
5. Meetings Auckland (New Zealand). Meetings Auckland, supported by the Auckland Conven-
Instapay transactions value, volume surged in Oct–BSP
By Cai U. Ordinario @caiordinario
INSTAPAY transactions surged in terms of value and volume, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
According to the BSP, InstaPay transactions grew 47.99 percent in October while in terms of volume, it rose 53.32 percent during the period.
Total InstaPay transactions amounted to P676.32 billion in October 2024, higher than the P457.02 billion posted in October 2023. There were a total of 132.84 million transactions made via InstaPay in October 2024, a 53.32 percent increase from
the 86.65 million transactions recorded in October 2023.
In the 10-month period, Instapay transactions grew 45.27 percent in the January to October 2024 period while Pesonet transactions grew 27.89 percent in the same period.
In the January to October period, InstaPay transactions reached P5.82 trillion in 2024, a 45.27 per-
tion Bureau, promotes sustainability through the “Tamaki Makaurau Auckland Sustainable Destination Strategy.” This focuses on conserving natural resources, reducing carbon footprints, and embedding Maori cultural values in tourism. The Auckland Convention Bureau offers resources and support for planners to help reduce the environmental impact of their events.
6. Singapore Tourism Board (Singapore). Singapore has developed the “Sustainable MICE Standard,” a framework that provides a clear roadmap for venues, hotels, and event organizers to integrate sustainability into their practices. The Singapore Tourism Board supports sustainable initiatives in the business events sector by helping event organizers and venues adopt green certifications and sustainable practices.
7. Amsterdam Convention Bureau (Netherlands). The Amsterdam Convention Bureau promotes sustainable meetings and events through initiatives like the “Amsterdam Sustainability Program,” which focuses on reducing waste, supporting green transportation, and fostering collaborations with local businesses committed to ecofriendly practices. Amsterdam’s RAI Amsterdam Convention Centre is an industry leader in sustainable practices, offering event organizers the option to offset their carbon footprint.
8. Tourisme Montréal (Canada). Tourisme Montréal has committed to making the city a sustainable destination for meetings and conventions. They launched the “Montréal Responsible Tourism Strategy,” focusing on carbon-neutral events, waste reduction, and community engagement. Montreal’s convention center, the Palais des Congrès de Montréal, is a key player in this mission, with green roofs, energyefficient infrastructure, and various sustainability initiatives.
Octavio Peralta is the founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” The views he expressed herein do not necessarily reflect those of the BusinessMirror E-mail: bobby@pcaae.org.
cent growth from the P4.006 trillion posted in 2023. Meanwhile, PesoNet transactions reached P943.57 million in October 2024, a 35.34 percent growth from P697.21 million in October 2023. In terms of transaction volume, the data showed there was a 13.72 percent growth to 8.95 million transactions in October 2024 from 7.87 million posted in October 2023.
Launched in April 2018, InstaPay is a real-time low-value electronic fund transfer (EFT) credit-push payment scheme for transaction amounts up to P50,000. It is designed to facilitate small value payments. These payments are useful for the purchase of retail goods, paying toll fees and tickets, as well as for e-commerce, which shall enable, among others, Micro, Small and Medium Enterprises (MSMEs).
PesoNet is a batch EFT credit payment scheme, which can be considered an electronic alternative to the paper-based check system. Under the rules of Automated Clearing Houses (ACHs), the fund transfer and/or payment instructions will be processed in bulk and cleared at batch intervals. Each payee will then receive the full value in their account within the same banking day, provided the payment instruction was sent within the cut-off time.
BancNet is the designated clearing switch operator for InstaPay for a 2-year transitory
Manulife Investment launches trust fund
THE Manulife Investment Management and Trust Corp. said it has launched a unit investment trust fund (UITF) that targets investors seeking high-quality, low-volatility income opportunities.”
The Manulife Global Income Feeder Fund or the “Fund” “provides investors access to US Dollar-denominated fixed income and fixed income-related securities of issuers globally, giving them high-quality and stable income generation opportunities,” read a statement Manulife Investment issued last Thursday. According to Manulife Investors, investors may access the Fund for as low as a $1,000 (about P58,724 at current exchange rates).
President and CEO Macaria Trinidad F. Gaspar was quoted in the statement as saying their UITF offers an “all-weather” wealth solution that combines the entirety of the fixed income universe, including traditional and non-traditional sources of income.
“It provides high and sustainable opportunities that can help investors maximize their financial portfolio’s income generation across economic and interest rate cycles,” Gaspar added.
According to the company, investors can open a UITF account online through the firm’s digital investment platform.
Andrea E. San Juan
Japan’s currency official elected as next ADB president
THE Asian Development Bank (ADB) Board of Governors has elected the Manilabased multilateral development bank’s 11th President.
Special Advisor to Japan’s Prime Minister and the Minister of Finance Masato Kanda was unanimously elected to take over the ADB Presidency when its current President Masatsugu Asakawa leaves office on 23 February 2025.
Kanda, 59, will complete the unexpired term of President Asakawa, which ends on 23 November 2026. This makes him eligible to run for a full term in 2026.
“If I am afforded the immense privilege of being the next President of ADB, I will steadfastly commit to ensuring ADB can achieve its vision of delivering sustainable and inclusive growth to the region with innovative and tailored solutions, in alignment with the updated Strategy 2030,” Kanda said in his vision statement issued last month.
“I can only do this by working with each and every member and delivering the New Operating Model so the ADB remains a client-first bank that maximizes its development impact, underpinned by talented and diverse staff,” he also said.
Kanda laid out his plans that included not only helping the region become a major engine of global growth but also ensure the region is resilient amid various crises and challenges. He added that the region must also be inclusive.
“The many crises and challenges currently confronting us, from climate change to digitalization and gender equality, require continually striving for ADB to remain the most trusted partner for all members,” Kanda said.
Kanda said that in terms of climate change, he said “bolder actions are still warranted” given the natural disasters stemming from climate change and the complications to the transition to net zero.
He noted that the region’s coal plants are still young and the grid coverage remains limited.
Kanda said ADB has responded with innovative climate action but more needs to be done.
“ADB has spearheaded innovative climate change initiatives as the region’s climate bank. Nevertheless, bolder actions are still warranted, both on the mitigation and adaptation fronts,” Kanda said.
These “bold actions” should also include actinos needed to boost quality of infrastructure investment, strengthening climate resilience, achieving high environmental and social standards, preserving biodiversity, and creating jobs.
Efforts to help countries in the region, Kanda said, are needed to eradicate poverty. But more needs to be done in terms of addressing inequality as this “could damage social stability and cohesion and undermine economic dynamism.”
“While rapid urbanization has provided an increasing number of citizens with access to better public services (education, water and sanitary services, transportation), it can widen the gap with vulnerable people that do not have access to such basic services and the social safety net,” he added.
The Board of Governors also considered Kanda’s nearly 40-year service to the Japanese
government. Kanda said the past four decades he worked with the many professionals in the region and commited to the “vision of economic stability and prosperity, and poverty eradication.”
The ADB Board of Governors said Kanda had extensive experience in financial sector policy and macro-fiscal policy, having served as Deputy Commissioner at the Financial Services Agency, Deputy Director-General of the Budget Bureau, and Deputy Vice-Minister for Policy Planning and Coordination. He is also a leading expert in education and science policy as well as university reform.
Kanda has also been actively engaged in the G7, G20, and other international forums, addressing key policy challenges such as multilateral development bank (MDB) evolution, pandemic prevention, preparedness and response, and debt sustainability and transparency. During his tenure as Vice-Minister of Finance for International Affairs, the ADB said Japan made a record contribution of more than $1 billion to the Asian Development Fund 13th replenishment (ADF 14).
“Mr. Kanda’s extensive experience in international finance and proven leadership in multilateral settings will serve ADB well in navigating complex global economic challenges and fostering international cooperation,” said Chair of the ADB Board of Governors and Governor of the Bank of Italy Fabio Panetta. “The ADB Board of Governors looks forward to working with Mr. Kanda.”
Since 2016, Kanda has served as Chair of the OECD Corporate Governance Committee, overseeing the review of the G20/OECD Principles of Corporate Governance in 2023. He also has substantial experience in strategic discussions and decision-making at MDBs, having served as Alternate Executive Director for Japan at the World Bank.
Kanda obtained his Bachelor of
Octavio Peralta
Association World
Raving over ‘Wicked,’ stunned by ‘Conclave’
PEOPLE are raving over Wicked, the movie, now playing in theaters all over the country.
I can understand the fascination; many Filipinos, even before catching it onstage here or abroad, are already quite familiar with the standout songs from the play, which originally starred Idina Menzel (Elphaba) and Kristin Chenoweth (Glinda) in Broadway. Most popular, of course, are “Popular”— Glinda’s efforts at making over Elphaba—and “Defying Gravity”, sung both by Glinda and Elphaba. At that point when they sing “Gravity,” Elphaba (portrayed in the movie by the fierce Cynthia Erivo) is quite disappointed with the Wizard of Oz and vows to fight him, thus setting her off on her path to become the Wicked Witch of the West. (Wicked is supposed to be prequel to the celebrated movie, The Wizard of Oz, which starred the exceptional Judy Garland.)
By Eugenia Last
Our own Filipino culture and heritage is full of stories of the supernatural, which I suppose enables us to identify with the characters in Wicked. Many provinces recognize the local witches or shamans who residents turn to explain events and life situations that defy logic, while staying away from the mangkukulam/mambarangs, supposed practitioners of black magic who can put curses on people. There are also albularyos, who use plant-based folk medicine for healing and counter-curses. Meanwhile, in Siquijor, so-called witches and shamans gather every Holy Week to recharge their amulets and cook up their healing potions.
I still haven’t watched the movie; there are just too many people lining up for it—a good thing, considering how many would rather stay home
and stream their favorite TV series and wait on the blockbuster movies to eventually air there. I am told that Wicked plays even better on IMAX screens. This is just first installment, by the way; the second corresponds to Act 2 of the stage play, and tells us what actually happens to the Wicked Witch of the West, while Glinda—Ariana Grande—becomes the Good Witch.
So while everyone else was watching Wicked, I decided to watch Conclave instead. I had been waiting to see the film, as it features a stellar cast led by Ralph Fiennes (Cardinal Lawrence), Stanley Tucci (Cardinal Bellini), John Lithgow (Cardinal Tremblay), Sergio Castellito (Cardinal Tedesco), and Isabella Rossellini (Sister Agnes).
The film is based on a novel of the same title by Robert Harris, a former journalist who researched inside the Vatican and spoke with various officials of the Catholic Church hierarchy for this great read.
(Other Harris novels adapted for limited TV series and films include Fatherland, Enigma, Archangel, The Ghost, An Officer and a Spy, and Munich.)
Conclave opens with the Pope having passed away, and thus a conclave of cardinals has to be called to elect a new Pontiff. This enormous task falls on the shoulders of Cardinal Lawrence, being the Dean of the College of Cardinals. He had wanted to retire from this post, but the Pope had rejected his request—after all, there are shepherds who tend to the flock, but there are those called to be a “farm manager.”
But the election of a new Pope is a nasty business. Cardinals have to be sequestered away, their bedroom windows even forcibly shuttered, so they are not impacted by any business that goes on in the world outside. The conclave is held at the Sistine Chapel, and while voting is ongoing, the doors are likewise barred until the rounds are exhausted, and it is time for dinner.
Expectedly, like in any election, it is all about politics and politicking. There are standouts among the Cardinals who become favored candidates for Pope—Tremblay, Bellini, Tedesco, Cardinal Adeyemi
VIRGO (Aug. 23-Sept. 22): Review and reset your goals. Refuse to let anyone mislead you, tempt you to do something costly or put you in a vulnerable position. It’s okay to say no and to walk away from toxic situations. Believe and trust in yourself, not someone trying to manipulate you. ★★★★
LIBRA (Sept. 23-Oct. 22): Uncertainty regarding work or how you earn your living will surface if you feel technology is taking over and jeopardizing your position. Show confidence when presenting or discussing what you can bring to the table. Network vigorously. Protect your home and physical well-being. ★★★
SCORPIO (Oct. 23-Nov. 21): Sign up only for what you can handle. Promising more than you can deliver will tax your energy and leave you falling short of your goal. A strategic approach regarding your plans will help those you approach to see the value in what you are trying to achieve. ★★★
THE fifth cycle of the DAISY Awards at Makati Medical Center (MakatiMed, www. makatimed.net.ph) on October 18 celebrated the outstanding contributions of nurses who have consistently demonstrated exceptional care and dedication to their patients.
Eda Bernadette P. Bodegon, MAN, RN, director and chief nursing officer of the Nursing and Patient Care Services Division (NPCSD), opened the program with a heartfelt welcome message, emphasizing the importance of recognizing the invaluable role nurses play in ensuring top-quality healthcare.
Representing The DAISY Foundation, Alexandra Schoen, senior program director for international programs and supportive associations, extended her greetings and admiration to all the nominees through a video message.
The ceremony proceeded with two major segments: first was the recognition of nominees, followed by the announcement of DAISY Award Honorees. During the latter, the stories of each honoree were shared with the audience, recounting their remarkable
acts of care and dedication. The stories, read aloud by DAISY Champions from NPCSD, moved everyone in attendance as they highlighted the honorees’ resilience and unwavering commitment to their patients. Corporate and nursing leadership from MakatiMed attended the event, taking part in the recognition ceremony and a photo opportunity with the DAISY honorees. Among those present were Saturnino P. Javier, MD, interim co-president and CEO and medical director; Arnold C. Ocampo, interim co-president and CEO and chief financial officer; Isidoro M. Perfecto, information and communications technology division head; Mary Grace U. Sta. Ana, DMD, MBAH, officer in charge, quality management division; Arlyn L. Songco, creative communications and sales services division head; Hussein A. Lagman, HRMDD learning and organization department manager; Eda Bernadette P. Bodegon, MAN, RN, director and chief nursing officer, NPCSD; Daryl Jeremiah R. Gaba, RN, MAN, assistant director, nursing
support services; Alexander Gervacio M. Sangoyo, RN, MAN, assistant director, specialty nursing services; and Nerissa A. Lagarico, RN, MAN, assistant director, general nursing services. The honorees for Cycle 5 were as follows: Jean Arlyn B. Sapusao, RN from the Neuropsychiatry Unit; Gretchin D.R. Clavesillas, RN from Cardiovascular Telemetry and Cardiovascular Recovery Room; Irish Eunice A. Felix, RN from CPM Adult/IMCU; Kezzia Mae G. Ventura, RN from MSICU; Frances Marion A. Baltazar, RN from the 6th Front; Joanne B. Tatad, RN from Renal Care; Kenneth A. Laureano, RN from the 7th Rear; Mariam A. Raceles, RN from Cardiovascular Telemetry and Cardiovascular Recovery Room; John Lester P. Ramos, RN from the 9th Front; and Roni Candy A. Garcia, MSN, RN from the Emergency Department Primary. These nurses were honored for their contributions to patient care, with each story reflecting the hospital’s values: Compassion, Excellence, and Integrity.
SAGITTARIUS (Nov. 22-Dec. 21): Refuse to let what others say or do bother you. Concentrate on what’s important to you and stick to your schedule. Oversee expenses, investments and personal paperwork. Implement physical fitness and preventative medical enhancements into your daily routine. ★★★
CAPRICORN (Dec. 22-Jan. 19): Survey your surroundings to ensure you are heading in the best direction. Refrain from starting something you can’t finish. Put your heart and soul into what you enjoy doing most, and you’ll attract someone who can help you further your agenda. Love and romance are on the rise.★★★★
AQUARIUS (Jan. 20-Feb. 18): Sit tight and let the dust settle. Trying to change something or someone prematurely will leave you reeling from exhaustion. Build opportunities that suit your needs and aren’t dependent on someone else’s faulty ideas. Keep your emotions at arm’s length when making decisions. ★★ PISCES (Feb. 19-March 20): Set high standards and
PARTY GIRL
THE young female politician is considered as one of the brightest and most promising names in politics. But if you look beyond the surface, it seems like she’s just a regular party girl. She spends more time in the city than in her actual turf. It seems like she also spends more time in clubs than in her office. She is also alleged to be the girlfriend of a married man and she and the man’s wife move in the same circles. The relationship is said to be a few years old already.
RICH
AND HAPPY
THE singer is no longer younger and that is okay. There are better singers than her and that is okay. The singer’s voice may not be the same as it was when she was young, but it is still one of the best voices in the business. As an artist, the singer is the idol of younger singers. She is the standard by which they pattern their careers. She is the ultimate professional, too, who respects the time and effort of others. Also, only a few singers in the country can command a price of about P1 million per song. So her bashers might criticize her looks and talent, but the singer is rich, talented and happy.
HIS DECISION
THE actor has been on hiatus for a while but it’s not due to lack of offers. He has been offered juicy roles in prime projects but the actor has refused them all. Is he still heartbroken over the loss of a loved one and can’t get over her now that she seems to have fully moved on? The truth is allegedly very far from that. The actor has also already moved on and is in a good place. The reason why he does not want to act is because he feels he is overweight for the cameras. He is also very conscious about his hairline. He simply does not want to be criticized by strangers for the way he looks.
COPYCAT
NETIZENS are bashing an influencer who is trying to be an online domestic goddess. They say the influencer’s efforts to appear domestic are staged and forced, comparing her to another online personality who has gained admiration for similar posts. The influencer has been in the business for a while but somehow, while she has many followers, she has yet to find her niche. Netizens also suspect that she buys followers and likes, and pays someone to manage the comments on her posts so only the positive ones appear. Most of her content are not even original, netizens have said, and merely adaptations of content already made popular by others.
Conclave...
Continued from B4
(Lucian Msamati), even Lawrence himself—each of them representing various philosophies and schools of thought in regard to the Church’s direction. Those who are comfortable with the idea of becoming Pope try to shore up as many supporters to get the required two-thirds majority vote. At the initial voting, however, a wild card emerges—the mysterious Archbishop Benitez (Carlos Diehz)—a Mexican who had shown up before the Conclave was officially convened, and revealed to having been secretly appointed by the Pope (“in pectore”) to head the Kabul diocese. The liberal wing is split between Lawrence and Bellini, angering the latter who accuses the Dean of wanting the papal job himself.
As the story unfolds, various issues crop up against the main contenders for the job and include firings, intimate relationships, bribery, etc., which ought to disqualify each of them. A suicide bombing rocks the Vatican, shattering the glass windows of the chapel and raining on the heads of some cardinals. The event cannot be ignored by the Cardinals, even if they are supposed to be unaffected by external political machinations. It becomes the cause of heated disscussions between the traditionalists railing against Islamist elements, and those calling for calm. This evolves into the final vote for a new Pontiff.
The stupendous twist to the political thriller is revealed as more facts about the new Pope come to fore. The disclosures are so unexpected, I had to put a hand on my mouth after I yelped a “F**K”. Too late! No spoilers here, as many have yet to watch this amazing film.
Aside from the unsurprisingly brilliant acting prowess of the leads and supporting characters in Conclave, the film is a grand tribute to the breathtaking architecture of Rome. A number of its ancient structures were used to depict the Vatican’s rooms, hallways and staircases, although two major sets were built on a sound stage. The colors were visually stunning as well, with the ruby-red robes of the cardinals in stark contrast to the white umbrellas they used to shield themselves from the rain, as an assortment of gold or silver crosses rested on their chests.
The surprising ending to the film will probably not please conservative Catholics. It accurately portrays the tremendous tensions and schisms in the world today, and how it is quite a heavy burden for any Pope to not just lead a divided Church, but try to inspire people of clashing beliefs to keep the peace. This is why Pope Francis always implores the faithful to pray for him. “A new commandment I give you: Love one another. As I have loved you, so you must love one another. By this, everyone will know that you are my disciples...”
(John 13: 34-35)
Show BusinessMirror
‘Wicked’ and ‘Gladiator’ make gravity-defying theater debuts
By Jake Coyle The Associated Press
NEW YORK—With a combined $270 million in worldwide ticket sales, Wicked and Gladiator II breathed fresh life into a box office that has struggled lately, leading to one of the busiest moviegoing weekends of the year.
Jon M. Chu’s lavish big-budget musical Wicked starring Ariana Grande and Cynthia Erivo, debuted with $114 million domestically and $164.2 million globally for Universal Pictures, according to studio estimates on Sunday. That made it the third-biggest opening weekend of the year, behind only Deadpool & Wolverine and Inside Out 2. It’s also a record for a Broadway musical adaptation.
Ridley Scott’s Gladiator II, a sequel to his 2000 best picture-winning original, launched with $55.5 million in ticket sales. With a price tag of around $250 million to produce it, Gladiator II was a big bet by Paramount Pictures to return to the Colosseum with a largely new cast, led by Denzel Washington and Paul Mescal. While it opened with a touch less than the $60 million predicted in domestic ticket sales, Gladiator II has performed well overseas. It added $50.5 million
internationally.
The collision of the two movies led to some echoes of the “Barbenheimer” effect of last year, when Barbie and Oppenheimer launched simultaneously. The nickname this time, “Glicked,” wasn’t quite as catchy and the cultural imprint also was notably less. Few people sought out a double feature this time. The domestic grosses in 2023—$162 million for Barbie and $82 million for Oppenheimer—also were higher.
For Universal, which distributed Oppenheimer last year, the weekend was more a triumph of Wicked than it was of “Glicked.”
“We saw an opportunity to dominate a weekend and get a very large running start into the Thanksgiving holiday,” said Jim Orr, distribution chief for Universal. “We’re very confident that it will play ridiculously well through the Christmas corridor and into the new year.”
But the counter-programming effect was still potent for Wicked and Gladiator II, which likewise split broadly along gender lines. And it was again the female-leaning release—Wicked, like Barbie before it—that easily won the weekend. About 72 percent of ticket buyers for Wicked were female, while 61 percent of those seeing Gladiator II were male.
“Standing on their own, each of these movies may have done pretty much what they did, but it’s hard to know,” said Paul Dergarabedian, senior media analyst for Comscore. “Raising awareness can indeed lead to an increase in box office. Let’s put it this way: They didn’t hurt each other at all.”
While “Barbenheimer” benefitted enormously from meme-spread word-of-mouth, both Wicked and Gladiator II leaned on all-out marketing blitzes.
The Gladiator II campaign featured everything from a much-debated Airbnb cross-promotion with the actual Colosseum in Rome to simultaneously running a one-minute trailer on more than 4,000 TV networks, radio station and digital platforms.
The Wicked onslaught went even further, with pink and green themed “Wickedly Delicious” Starbucks drinks, Stanley mugs and Mattel dolls (some of which led to an awkward recall ). Its stars made appearances at the Met Gala and the Olympics.
“We had roughly 400 global brand partners on Wicked, so the campaign was inescapable, said Orr. “And our cast, led by Cynthia Erivo and Ariana Grande, worked so hard on this. They were everywhere. They did everything we asked them to do.”
Going into the weekend, box office was down about 11 percent from last year and some 25 percent from pre-pandemic times. That meant this week’s two headline films led a much-needed resurgence for theaters. With Moana 2 releasing on Wednesday, Hollywood might be looking at historic sales over the Thanksgiving holiday.
Coming in a distant third place for the weekend was Red One, the Dwayne Johnson, Chris Evans holiday movie turned action film. In its second week of release, the Amazon MGM Studios release grossed $13.3 million to bring its two-week global haul to $117 million. At a cost of $250 million to make, Red One is the season’s biggest flop, though it could recoup some value for Amazon if it’s more popular once it begins streaming.
Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to Comscore:
HUNDREDS of fans braved the heavy ber months traffic on a Friday night to meet and jam with their Filipino ults—Josh Cullen of P-pop royalty SB19, pop band fave The Juans, all-rounder girl group KAIA, alternative standouts One Click Straight, and the dreamy pop-R&B star jikamarie—at the second edition of Backstage Pass Live, an exclusive gig hosted by Rakuten Viber at the buzzy Brooklyn Warehouse. The talented Pinoy acts treated fans to an electrifying night showcasing a mix of genres and talents, from R&B to Pinoy pop to indie rock. Select lucky fans got the chance to interact with their faves and scored passes to the intimate gig all for free through the Backstage Pass Chatbot, a unique feature of the superapp’s popular music and entertainment hub Backstage Pass Channel. Now with over 1.8 million subscribers,
the channel gives fans a virtual backstage experience through exclusive content and updates directly from their favorite artists to their chats. It offers access to exclusive giveaways, ticket discounts, and even the chance to chat with the artists themselves through in-person events like the Backstage Pass Live.
During their set, the five artists expressed their appreciation for Rakuten Viber for the opportunity to get closer to their fans online and in person through the Backstage Pass ecosystem.
“Thank you to all the fans who joined me here tonight, and of course to Backstage Pass Live by Rakuten Viber for making this event possible,” shared Josh before ending his set. “We are here today, thanks to Backstage Pass Channel, which is definitely a great platform for us artists to bond and interact with our fans.”
The Juans delivered an electrifying performance of their new single “Rebound” during their recent live event. The song, described as an emotionally engaging anthem, captures the relatable experience of longing for unrequited love. Beyond the live musical performances, guests this year were also treated to games, giveaways, and even special surprises that made the night truly special. The Complete the Lyrics game had fans singing their hearts out onstage, finishing their idols’ top hits, while the Dance Challenge let guests show off their moves to KAIA’s popular songs. Signed merchandise from the artists was up for grabs, adding to the night’s thrill. Another highlight for ZAIAs, aka the official fans of KAIA, was the exclusive backstage access for a meet-and-greet session with the girl group. Lucky winners got to chat with their faves and score selfies,
taking the stan life to the next level.
Filipino actor and Rakuten Viber’s first-ever brand ambassador Gabbi Garcia who’s also a music lover joined in the Friday fun and surprised the guests by personally handing out the prizes for the games and giveaways.
“This is only the second year of Backstage Pass Live, but we’re happy to see so much passion and enthusiasm for it already, especially as this is our priority initiative in engaging with our young
CYNTHIA ERIVO and Ariana Grande headline the blockbuster adaptation of the musical Wicked which debuted atop the North American box office.
KAIA stans
GABBI
Filinvest Land wins double gold at the Stevie International Business Awards 2024
FROM over 3,600 nominations submitted by organizations of all sizes and industries across the globe, Filinvest Land, Inc. (FLI) once again proved its excellence by winning double gold at the esteemed 2024 Stevie International Business Awards.
Filinvest Land, one of the country’s leading and multi-awarded developers, was awarded Gold in two significant categories: “Company of the Year – Real Estate” and “Executive of the Year – Real Estate” for the exemplary leadership of FLI President and CEO Tristan Las Marias.
equally lauded, earning him the “Executive of the Year – Real Estate” Gold award. Judges praised his exemplary strategic vision, which has been pivotal in steering Filinvest Land to new heights. This is the second time Las Marias has been recognized at the prestigious awards program, having received a Silver Stevie in the same category in the previous year, underscoring his consistent and exceptional contribution to the real estate sector.
“This recognition is more than just a personal milestone but a collective achievement that reflects the hard work of everyone at Filinvest Land. Our success is built on a foundation of innovation, resilience, and a commitment to positively impacting the lives of Filipinos. These titles reinforce our resolve to continue shaping the future of real estate in the Philippines, creating opportunities and building communities that stand the test of time,” said Las Marias.
SM brings joy to Beneficiaries of ‘Christmas in November’
FOR beneficiaries in Luzon, Visayas and Mindanao, Christmas came early as the Senate Spouses Foundation Inc. (SSFI), supported by SM, conducted its annual “Christmas in November” project in these three regions. Now on its 26th year, the first leg of the annual “Christmas in November” activity, kicked off in SM City Clark on November 7, 2024 where children from indigenous communities in Pampanga were treated to a meal, followed by an early holiday shopping at the SM Store. The day ended with the children enjoying a carousel ride in SM City Clark. Spearheaded by Mark Lapid, son of Senator Lito Lapid and General Manager of Tourism Infrastructure and Enterprise Zone Authority, and supported by Mrs. Nancy Dela Rosa, wife of Senator Ronald “Bato” Dela Rosa; Ms. Maricel Tulfo, daughter of Senator Raffy Tulfo; and Social Welfare Undersecretary Emmeline Aglipay, the SSFI also provided social services via the Senate Assist caravan stationed at SM City Clark.
SSFI President Love Marie Escudero, wife of Senate President Francis Escudero led the Cebu delegation on November 17 assisted by Mrs. Kathryna Pimentel, wife of Senator Koko Pimentel; Mrs. Nancy Dela Rosa, and Ms. Maricel Tulfo.
The Cebu delegation hosted children beneficiaries afflicted with cancer and other chronic diseases under the care of the Kythe Foundation. These beneficiaries were treated to an early Christmas shopping at the SM Store and had an opportunity to meet mascots at the
SM
The third and
and social services through the
SM Store. There was also a whole day Senate Assist helpdesk at the SMX in
Lanang.
has been a staunch supporter of the SSFI’s Christmas in November for more than two decades. SM has always believed in the power of community and the importance of supporting meaningful initiatives that make a difference in the lives of individuals and families.
The recognition for “Company of the Year – Real Estate” was attributed to Filinvest Land’s remarkable performance, particularly its significant 30 percent net income growth in 2023 and rapid portfolio diversification. Under the visionary leadership of Tristan Las Marias, the company successfully expanded into commercial spaces, retail hubs, co-living developments, and industrial parks. This diversification not only strengthened Filinvest Land’s financial performance but also amplified its social impact through initiatives in education, health, and environmental sustainability.
The Stevie Award judges commented on the well-rounded achievements of Filinvest Land, noting that the company is rapidly solidifying its position as a leading player in the Philippine real estate market. They also highlighted Las Marias’ transformational leadership, which has been instrumental in driving the company’s sustained success.
Tristan Las Marias’ leadership was
This double gold victory is a testament to Filinvest Land’s unwavering commitment to excellence, driven by its core mission of building the Filipino dream. As the company continues to innovate and expand, it remains steadfast in its dedication to creating sustainable, inclusive, and vibrant communities for generations to come.
Balanced RE & non-RE mix needed to power Cebu, Visayas
CEBU and the rest of the Visayas should grow an optimum mix of traditional and renewable energy capacities to ensure power reliability and affordability, considering projected annual increases in electricity demand.
“The power demand of Cebu yearon-year is exceeding the national average. If we are to even be able to match the phenomenal growth that Cebu is experiencing right now, we would have to be very serious about generating more [power] capacity,” said Cebu Governor Gwendolyn F. Garcia during The Freeman’s “Powering Cebu” business forum.
“Power is a crucial and nonnegotiable ingredient to progress,” she added. “Power gives life to the economy. If there is a lack of [electricity], then there is no economic growth to speak of.”
With projections that Cebu and the Visayas will sustain its economic expansion, the Department of Energy (DoE) anticipates that the region’s electricity demand will grow to the point that it will require a big chunk of the available power capacity by 2050, together with Mindanao.
“For the Visayas, we could have dependable capacity of 3,296 megawatts. That will just be sufficient to provide the demand and the appropriate reserves. That means we will continuously rely on the transfer of energy from Luzon and Mindanao. However, take note that Mindanao is also growing fast,” said DoE Assistant Secretary Mario C. Marasigan.
“Luzon sits at a relatively comfortable reserve margin of 300 to 700 megawatts. Similarly, Mindanao has around a 25 to 30 percent power reserve margin. If you compare that to Visayas, Visayas is around eight percent. So you can see the stark contrast between the Luzon, Visayas, and Mindanao grids,” added Aboitiz Power Corporation (AboitizPower) Thermal Group Chief Engineering and
THE Powering Cebu business forum was attended by Cebu Governor Gwendolyn F. Garcia (center), Visayan Electric President & COO Raul Lucero (1s from left), AboitizPower Thermal Group Chief Engineering and Projects Officer Don Paulino (2nd from left), Philstar Media Group President & CEO Miguel Belmonte (4th from left), along with business leaders in Cebu. Photo courtesy of The Freeman. Projects Officer Don Paulino.
The National Grid Corporation of the Philippines (NGCP) indicated that Cebu’s total plant capacity today is 1,123 megawatts. With peak demand going as high as 1,223 megawatts, as was recorded in May 2024, Cebu currently augments the shortfall of 100 megawatts through interconnections to Luzon and Mindanao.
Peak demand in the Visayas is seen to increase from 2,464 megawatts in 2023 to 2,864 megawatts by 2026 and to 10,678 megawatts by 2050, with Cebu expected to demand as much as half. The DoE also pointed out that Cebu serves as the connection hub for the entire Visayas, with electricity imports from Luzon and Mindanao passing through Cebu before it serves the rest of the Visayan islands.
With the projected increase in electricity demand amidst the influx of more variable renewable energy capacities like solar and wind, AboitizPower’s Paulino said that the current fleet of baseload sources will provide balance and complement intermittency of power.
“The direction to have renewable energy is very important, not just from a
climate change [lens], but also from a mix perspective,” he maintained. “However, because the sun can only provide power from 10 am to 2 pm, what happens whenever there is no sun? What happens when there is no wind? For us to be more renewable, we need to be able to complement that with a proper baseload.”
The DoE previously clarified that power producers can opt to build coal-fired power plants exempt from the country’s coal moratorium to serve as baseload. Citing the list of private sector-initiated projects and inputs from generation companies and the NGCP, these 51 potential coal plants have a cumulative capacity of 20,300 megawatts.
“Even if we have the coal moratorium, we have accounted for more than sufficient coal thermal projects that are not covered by the moratorium. These are those coal thermal projects that have been approved as committed and indicative projects before we issued the coal moratorium policy in 2020,” Marasigan said. “One of those projects will be in Cebu, and hopefully this could augment the baseload requirement in Metro Cebu.”
mWell proudly presents the special edition UAAP watches—combining school spirit with health and wellness. These watches empower student-athletes and fans alike to represent their teams while staying on top of their fitness goals. A true testament to mWell’s commitment to health innovation in partnership with the UAAP.
mWell, the Philippines’ premiere health and wellness mega app, takes school pride to the next level with the launch of special edition UAAP watches. These watches, designed with affordable access in mind, enable students to proudly wear their school colors while staying on top of their health.
mWell, the digital healthcare arm of Metro Pacific Investments Corporation (MPIC), shows support for the UAAP 87th season by unveiling these unique wearables in a special signing ceremony at MPIC’s boardroom. Each watch is proudly styled with school logos and colormatching straps, capturing the heart of every university’s athletic spirit.
mWell Chairman and MPIC Chairman and CEO Manuel V. Pangilinan shares, “This partnership between the UAAP and mWell manifested from our mutual drive to support the well-being of young people. These special edition wearables—linked to the mWell platform—will equip students, athletes, and the entire UAAP community with the tools to actively manage their health and reach peak performance.”
The Power and Prestige Sport watches come loaded with advanced essential health features, including blood pressure and heart rate monitor, making them perfect for tracking physical activities across 100 sports modes. Paired with the mWell app, each watch allows tracking of daily mWellness Score based on exercise, light activity, sedentary time, and step count. Monitoring the
mWellness Score daily and consistently aiming for a good score helps lessen the risk of chronic disease and is crucial in reaching fitness goals.
“mWell is an ally in every part of the wellness journey. Recognizing that health is our biggest personal investment, our wearables are designed to deliver crucial insights to encourage a healthy and active lifestyle. Our affordable line of watches paired with the mWell app will enable everyone, including our students and alumni community to become more productive, better manage their overall health and ultimately live happier and longer lives.” said mWell CEO and President and MPIC Chief Finance, Risk, and Sustainability Officer Chaye CabalRevilla. UAAP Executive Director Atty. Rebo Saguisag expressed excitement about the collaboration which he said aligns perfectly with the theme of “Stronger, Better, Together.” “The UAAP is one with mWell in promoting wellness and leading healthier lives in order to become a more formidable community committed to greatness,” Saguisag said.
The UAAP Special Edition Watches by mWell represent eight Metro Manila universities in the Philippines— University of the Philippines (UP), Adamson University (AdU), Ateneo de Manila University (ADMU), De La Salle University (DLSU), Far Eastern University (FEU), National University (NU), University of the East (UE), and University of Santo Tomas (UST). Each wearable comes with up to seven days battery life and is water-resistant. These are available exclusively through the mWell app eShop or via shop.mwell.com.ph. Each purchase comes with free delivery along with an extra strap and gift bag. As the excitement builds, mWell and UAAP are gearing up for two major events: the UAAP Cheerdance Competition on December 1 and the Women’s Volleyball Season starting in February 2025. Fans and athletes alike can showcase their support by wearing their mWell UAAP watches at these thrilling events. To promote holistic health among students, mWell will also roll out a Wellness University Tour designed to create awareness about the importance of both physical and mind health.
PEZA recognized by PNOC for initiatives, innovative solutions, sustainable practices
THE Philippine Economic Zone Authority (PEZA) has been recognized by the Philippine National Oil Company (PNOC) for its dedication in transforming the landscape of public infrastructure and services nationwide. PEZA Deputy Director General for Finance and Administration Maria Veronica F. Magsino received the Arrow 2 Providers recognition during the PNOC Partners’ Night 2024 where they honored partner government agencies and organizations who were instrumental in driving groundbreaking initiatives, innovative solutions, and sustainable practices that benefit both communities and the environment. The event also coincided with the 51st anniversary celebration of PNOC last November 8, 2024 at Marquis Events Place, BGC. In response to this recognition, PEZA Director General Tereso O. Panga noted, “Together with our partners like PNOC and our locators, we shall continue to implement a whole-of-government and industry approach to foster socioeconomic progress, drive innovation, and strengthen environmental responsibility in the country as we further our quest of ecozoning the country towards inclusive and sustainable development para sa Bagong Pilipinas.”
LOVE Marie Escudero, President of the Senate Spouses Foundation Inc., assists children from Kythe Foundation.
mWell Champions Wellness with Special Edition UAAP Watches
Seaside Mall in Cebu. Alongside, the SSFI extended medical assistance
Senate Assist caravan.
Editor: Tet Andolong
BYD BRINGS IN THE SEAL 5 DM-I
& photos by Randy S. Peregrino
IN collaboration with ACMobility, BYD Cars Philippines has shaken up the sedan segment with the recent introduction of the Seal 5 DM-i, a plug-in hybrid model offered in two variants (Dynamic and Premium). The two companies’ partnership has been transparent regarding its commitment to making electric vehicles more accessible to all Filipinos.
With ACMobility providing essential infrastructure, such as charging stations and service facilities, BYD Cars Philippines is positioned to take charge of transforming the automotive landscape.
“The collaboration between BYD and ACMobility represents a momentous step towards establishing a strong foundation for electrified mobility in the country,” said Jaime Alfonso Zobel de Ayala, Chief Executive Officer of ACMobility. “Together, we’re committed to enhancing customer experience and making electric vehicles a mainstream choice, offering options that meet the diverse needs of the modern Filipino driver,” he added.
Striking with smart engineering
THE Seal 5 DM-i showcases a sleek and modern design measuring 4,780 mm in length, 1,837 mm in width, and 1,495 mm in height. It has a 2,718-mm wheelbase. The illuminations consist of bold LED headlights and full-width LED taillights.
Inside is a familiar 12.8-inch rotating touchscreen with an intuitive interface and seamless
navigation. While the eightspeaker system is exclusive to the Premium variant, the Wireless Apple CarPlay, Android Auto, and the 8.8-inch LCD digital gauge cluster are standard features. Other exclusive features of the top-spec Premium include a sunroof, puddle lamps (side mirror), V2L capability and adapter, a 7kW wall charger, and a wireless phone charger.
Electric power with rangeextender (plug-in hybrid) LIKE the Sealion 6 DM-i, the Seal 5 DM-i has a single electric
motor for propulsion and a 1.5-liter gasoline engine as a generator. The Dynamic variant generates 176 hp and 316 N-m of torque with a zero to 100 km/h acceleration in 7.9 seconds. On the other hand, the Premium variant offers a bump in power with 194 hp and 325 N-m of torque, allowing the vehicle to reach 100 km/h quicker in 7.3 seconds. Both models are electronically limited to a top speed of 185 km/h. As for the batteries, the Dynamic variant is fitted with an 8.3 kWh BYD Blade battery pack, providing an EV mode
range of up to 50 km. The Premium variant, meantime, has a larger 18.3 kWh Blade battery pack, providing an EV mode range of up to 115 km. However, regarding the total range with HEV mode, the Dynamic variant has a total driving distance of up to 1,175 kilometers. The Premium variant extends further up to 1,240 kilometers, thanks to the larger battery capacity.
BYD safety and convenience
THE Seal 5 DM-i has a comprehensive suite of features. Both models include rear sensors, a rear camera, a Tire Pressure Monitoring System (TPMS), Electronic Brake Distribution (EBD), Hydraulic Brake Assist (HBA), Traction Control System (TCS), Hill Hold Control (HHC), and six airbags. Additionally, the Seal 5 DM-i has standard safety features such as an Anti-lock Brake System (ABS), among others.
The 360-degree camera is exclusive to the Premium variant. Also standard is OTA (over-the-air) update capability, which ensures the vehicle remains up-to-date with the latest software enhancements.
Pricing and colors
THE Dynamic variant retails at P 948,000 while the top-spec Premium is at P1.198 million.
Like other models in the local lineup, the new BYD DM-i sedan carries an extensive warranty: an 8-year or 160,000 km (whichever comes first) warranty for the BYD Blade battery, an 8-year or 150,000 km (whichever comes first) warranty for its drive unit, and a 6-year or 150,000 km (whichever comes first) vehicle warranty.
“We believe the BYD Seal 5 DM-i will be yet another game-changer in the market as it offers an electric mobility solution that is efficient, affordable, and practical for Filipino drivers,” said Bob Palanca, Managing Director of BYD Cars Philippines. “With its
accessible pricing and cuttingedge features, this vehicle is designed to make electrified mobility easier to embrace, whether for urban commutes or long-distance travels.”
30 Years of innovation and producing 10 million NEVs MEANWHILE , this year also marks BYD’s 30 years of pioneering electrified mobility solutions and leading the way in making electric vehicles accessible to everyday drivers. BYD has remained committed to advancing electric transportation throughout these three decades, continually innovating to meet consumers’ evolving needs.
“We are proud to bring the BYD Seal 5 DM-i to the Philippine market, a significant step forward in our mission to make electrified mobility accessible to everyone,” said Aiffy Liu, BYD Country Head, BYD Philippines. “As BYD continues to expand its global footprint in its 30th year, we are even more committed to providing eco-conscious Filipinos with innovative, sustainable, and affordable electric vehicles that will shape the future of transportation in the country.”
BYD commemorates its 10-millionth New Energy Vehicle (NEV) roll-off this November, further reinforcing its ongoing growth and unwavering commitment to driving the global transition toward more intelligent, more efficient mobility. BYD is now the first automaker in the world to reach this groundbreaking figure. The company took 15 years to produce the first five million NEVs. It achieved the next five million in just 15 months, demonstrating the company’s strategic focus on new energy vehicles and its continuous technological advancement.
Vehicles sales to surpass 400k? Zeroing in on Kinto One
AS 2024 is fast drawing to a close, it is almost obvious now that Toyota will emerge anew as the bestselling brand as sales data would attest barely a month before we leap into 2025. Easily, Toyota’s target of selling more than 200,000 units this year looms large in the horizon as cash register records have started humming in as early as October. Reports last year showed that Toyota barely breached the 200k mark, selling a
President Masando Hashimoto of Toyota Motor Philippines (TMP) was frank enough to say that TMP’s aim to hit its target sales volume this year would hinge on two things as per Inquirer’s Alden M. Monzon: 1, cooling inflation and strong remittances from overseas Filipino workers; and, 2, rate cuts from the Bangko Sentral ng Pilipinas. “All the good news is supporting the industry as a whole,” Monzon quoted Hashimoto as saying. Toyota sold 159,088 from September to January for a leading market share of 46.62 percent, according to Rommel Gutierrez, the president of the Chamber of Automotive Manufacturers of the Philippines, Inc. Hashimoto said 60 to 70 percent of Toyota buyers this year chose to use finance services for their purchases.
As trends would indicate, Hashimoto intimated that total sales volume by yearend could hit 476,000, which would
mean surpassing the 2023 sales of 429,807 units—or nearly 47,000. Huge hop!
With more models being churned out as Christmas approaches—not to mention lucrative promotional campaigns wafting in the air—expect the usual surge in sales as the nation ushers in the so-called season of aplenty. With traffic now worsening in the metropolis by leaps and bounds, is it looking a lot like Christmas? You bet.
Kinto One
TOYOTA’S Kinto One has come up with its salient features for customers to appreciate and enjoy.
Allana Faith Rufo writes that Kinto One from Toyota Mobility Solutions Philippines, which is headed by Tini Arevalo, is a full-service car lease package—a first in the country available for individual customers and business owners alike. This subscription service is designed to meet the
evolving needs of Filipinos, giving an easy and flexible driving experience without the challenges some associate with car ownership.
From expatriates settling in the Philippines for a few years, to business owners and corporate professionals who have more dynamic lifestyles, Kinto One delivers convenience for all. Its comprehensive services encompass document handling, maintenance, insurance and even roadside assistance— ensuring a seamless experience for individuals and business clients.
Let’s allow Allana, who is Mixie Flavier’s ever-dependable wordsmith, do the talking:
“Kinto One Business covers the vehicle lifecycle from acquisition to disposal through Toyota’s Fleet Management services. This approach streamlines operations and reduces administrative burdens for business owners.
“On top of fleet management features,
Kinto One also provides Fleet 360—a Toyota designed GPS tracking system that provides real time vehicle information, including location, status, vehicle condition, and monitoring of driver behavior.
“Kinto One also empowers both customers and businesses with a wide range of mileage options from 10,000 to 30,000 kilometers per year for Kinto One Individual, and up to 40,000 kilometers per year for Kinto One Business paired with flexible leasing terms spanning 3 to 5 years. This flexibility allows customers to tailor their car leasing experience to match their lifestyle and upgrade preferences seamlessly.
“This adaptable approach positions Kinto One as a compelling alternative to traditional car
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Quartz Blue, Arctic White, Cosmos Black, and Harbour Gray are available.
THE BYD Seal 5 DM-i (Premium) plug-in hybrid sedan in Harbour Gray color
THE cabin’s highlight is the 12.8-inch rotating touchscreen infotainment
THE cabin’s highlight is the 12.8-inch rotating touchscreen infotainment
Taguinota, PPC make hay on final day
MIKHA FORTUNA moved one step closer to claiming back-toback titles with a steady and calculated performance to defeat Marvi Monsalve, 3&1, in the semifinal round of the International Container Terminal Services Inc. (ICTSI) The Country Club Match Play Invitational at the TCC course in the City of Santa Rosa on Thursday. Fortuna, a former national team standout, has been drawing on the same form that led her to a breakthrough victory on the Ladies Philippine Golf Tour last year and heads into the championship match against Florence Bisera.
Bisera secured her finals spot with a hard-fought 1-up victory over Daniella Uy in a thrilling semifinals duel.
“I feel the same as last year, but I’m not setting any expectations,” Fortuna said. “If I win, then I win. I’ll just play my game and enjoy.” Fortuna, who edged Kristine Fleetwood, 1-up, in the quarterfinals, is proud about her consistency.
“From the first round, it’s been tough, but I’m happy with the results. I’m proud of myself,” said the University of Oklahoma alumna. “I definitely want to win again, but I’m not pressuring myself with expectations. Whatever happens, happens. I’ll push until I finally do it.”
A gainst Monsalve, who defeated Pamela Mariano, 3&1, Fortuna gained an early lead, going 1-up after four holes and doubling it by the eighth. A patient and strategic approach proved key to her victory.
B isera, however, is no stranger to pressure.
She showcased resilience by delivering back-to-back birdies on Nos. 13 and 14 to gain momentum against Uy, before fending off a late rally to secure her spot in the championship match.
“It was a great match,” Bisera said. “Our drives were strong. But those birdies on Nos. 13 and 14 gave me the momentum.”
She acknowledged the challenge of facing Fortuna and emphasized the importance of an all-around game.
“Playing against Mikha, anything can happen. My driving will be a key weapon, but I’ll also need my irons and putting to click,” she said. “Short game will likely be the deciding factor.”
With her father, Reynaldo, serving as her caddie and constant source of support, she is prepared to channel her strengths into what could be the defining performance of her career.
“I tr ust my short game, and having Papa on the bag gives me confidence. He’ll be a big help in tomorrow’s [Friday’s] final,” she added.
Challenge, not scores, matters to Alas beach bets
By Aldrin Quinto
ITY of Santa Rosa—Alas
CPilipinas’s Kly Orillaneda was all smiles, looking more excited than intimidated, as she watched top teams from Europe, America and AsiaPacific battle it out in the knockout qualifying round on Thursday at the Nuvali Sand Courts. Loaded with top FIVB-rated teams from across the globe, the Volleyball World Beach Pro Tour (BPT) Challenge Nuvali featured top volleyball action right on Day One—with even continental champions and BPT winners needing to play the qualifying rounds to make the main draw.
We’ll treat every game as a championship game, we need to give our best. Because if we give our best, the results, the scores really won’t matter,” Orillaneda said.
“This is a huge challenge, much more than our previous tournaments. The top-rated Europeans and Americans are here so we have to be at our best,” added Orillaneda after their match in the tournament hosted by the Philippine National Volleyball Federation headed by Ramon “Tats” Suzara.
Orillaneda and Gen Eslapor are already in the main draw of the event along with top-rated pairs led by Paris Olympians—world No. 22 Alexia Richard and Lézana Placette world No. 31 Clémence Vieira and Aline Chamereau of France.
Unfortunately for the unheralded Alas Pilipinas players, they ran smack
Alexa Polidario and Jen Gaviola of the Philippines managed to score in various ways—from tight-angled tips to loopers and even the occasional block—but that was simply not enough against Jasmine Fleming and Elizabeth Alchin, coming off a fifth-place finish in the Asian Seniors and seventh in the BPT Challenge Chennai, who eased to a 2111, 21-13 victory.
A las Pilipinas new guys Ronniel Rosales and Edwin Tolentino also could not overcome the huge hurdle against recently-crowned Asian Senior Beach Volleyball Champions D’Artagnan Potts and Jack Pearse— ranked 64th worldwide—who breezed through the match, 218, 21-10 in 28 minutes.
Focus now turns to James Buytrago and Rancel Varga, silver medalists in the BPT Futures Nuvali in April, and Southeast Asian Games bronze medalist Ran Abdilla, who is paired with Alas newcomer Lerry John Francisco in the feeder event to the BPT Elite 16.
Buytrago is tempering expectations, saying: “This tournament literally is a ‘challenge.’ It’s a different field from what we played before.” arga added: “This is a bigger stage, so we need to be much tougher.”
CBy Josef Ramos
PUERTO Princesa City— Arveen Naeem Taguinota II added more luster to Pasig City’s imminent domination of the Batang Pinoy Nationals as the hosts firmly made their mark in futsal at the close of the 30-sport championships exclusively for athletes aged 12 to 17 years old.
The 13-year-old Taguinota, an eighthgrader at the British International School in Phuket in Thailand but donning Pasig City’s jersey, won the boys’ 12-13 years old 4x50 meters relay with Charles Ezekiel Canlas, Jefferson Saburlase and Marcelino Picardal III in two minutes and 3.67 seconds.
They beat Parañaque City which clinched silver in 2:07.38 and Balanga City which grabbed bronze in 2:07.78 time in the competition at the Ramon V. Mitra Sports Complex swimming pool.
“I’m proud of myself and the times that I got and I feel so good to help my team achieve more gold medals here,” said Taguinota who could win anther gold medal in the 100m butterfly set later Thursday.
Taguinota earlier won the 50, 100 and 200 backstroke, 4x50m freestyle relay and 200m individual medley for Pasig City which scooped a total of 11 golds, nine silvers and 11 bronzes to emerge as the best swimming team in the 16th edition of the national junior championships.
Pasig City had 83 gold, 49 silvers and 88 bronze medals for a total of 220 medals, more than enough to be the games’ overall champions with only a few more golds staked before the closing ceremony at sundown Thursday.
Baguio City totaled 174 medals on 63 gold, 53 silver and 58 bronze medals, followed by Quezon City with a 45-43-45 tally, Davao City with a 3535-28 haul and Cebu with 28-32-27.
Naga City’s Albert Amaro II, meanwhile, set a third games record in the boys’ 16-17 200 freestyle with a time of 1:57.04, beating the previous Batang Pinoy mark of 1:59.94 set by Davao City’s Paolo Miguel Labanon last year in Manila.
Mabalacat’s Catherine Cruz also established a new record in the girls’ 16-17 100 backstroke with 1:08.32, while Biñan City’s Pi Durden Wangkay was the fastest in the boys’ 14-15 100 meters with a clocking of 10.88 seconds and Davao del Norte’s Samantha Martinez was the girls’ under sprint
LOSE to a hundred runners highlighted Hoka’s return to its trail running roots last weekend with prominent mountaineer Romi Garduce leading the pack in tackling the exciting 5-kilometer Timberland Mountain Bike Park course wearing the versatile and popular Challenger ATR (All-Terrain Running) 7 shoes. On a bright early Sunday morning, Hoka Run Club members and friends ran a thrilling route that began with an uphill 900-meter concrete road entering the trails, passing through a gauntlet of fire roads, lush vegetation, mud and gravel, before returning to the area where they began. The scene would have made Frenchmen Nicolas Mermoud
princess at 12.6 seconds. Banking on the offensive brilliance of John Kenneth Eclevia, Puerto Princesa stunned fancied Negros Occidental, 3-1, to capture the boys under-17 futsal crown also at the Ramon V. Mitra Jr. Sports Complex. With a roster of footballers
Pagod na talaga ako at gusto ko ng umuwi. Pero pinagalitan ako ni Gretchen at sabi ‘lumaban lang daw ako,’” Villacencio recalled.
Not only did he persevere, but he also triumphed, capping his comeback with a brilliant approach shot on the tough par-4 18th, setting up a birdie opportunity that forced Rho to concede the hole—and the match. In a bittersweet turn of events, Rho graciously congratulated Villacencio on his hard-earned victory, acknowledging the stunning shift in fortunes.
three holes after No. 11. The seasoned pro turned the tables by taking three of the next four holes, forcing an all-square match on the 15th.
Villacencio capitalized on Rho’s costly wet bogey on the 17th to seize the lead, then closed out the match by winning the final hole for a remarkable 2-up victory over the 18-year-old Korean. After trailing by three holes midway through, Villacencio considered quitting due to exhaustion. However, his daughter Gretchen, a Ladies PGT campaigner, encouraged him to keep fighting.
and Jean-luc Diard, the co-founders of Hoka—meaning “To Fly” in the Maori language—proud considering their business began in 2009 creating shoes known for their being lightweight, comfort, stability and durability for the rigors of trail running. “It is good to see trail running’s back, something that is both enjoyable but in a different running environment,” said Garduce, the first Filipino mountaineer to climb “The Seven Summits,” including the towering Mount Everest in Nepal. We want to draw more runners to hit the trails and experience a different form of running. For runners and nature lovers as well, this course is good exposure to the unique challenges that comes with the sport,”
Meanwhile, Engino, another veteran still in search of his first breakthrough victory, outlasted Jay Bayron 1-up in a tense, evenly matched encounter. Engino gained the edge with a clutch par on the 16th, then held firm, matching Bayron’s pars on the final two holes to secure his spot in the finals.
“I thought I already lost, but I made two birdies at the back nine and went 1-up with three more holes,” Engino said, reflecting on his comeback. He secured the win with two parsaving putts from long range.
For both players, their journey to the championship represents more than just skill—it’s a testament to resilience and the unique demands of match play golf.
Hoka Philippines representative Sharon Salvacion said.
“This is why we are offering a wide range options for trail running and hiking with one of HOKA’S
is one of the most widely-used shoes for off road performance running.” We certainly hope that the HOKA Run Club participants enjoyed their trail running experience and were encouraged to join some of our
ALAS PILIPINAS’S Kly Orillaneda and Gen Eslapor in action on Thursday. NONIE REYES
MIKHA FORTUNA exudes confidence. BERNARD TESTA
FLORENCE BISERA is meticulous with her putt. BERNARD TESTA