BusinessMirror October 10, 2022

Rising costs, fees cut down semicon profits from peso

because “from the multinational’s perspective, incentives or not, they’re (investors) gonna go to the country which gives the most com petitive operating cost in terms of cost per unit.”

“All we can do is communicate but right now, you heard that we have the highest power cost in the region other than Japan; our logistics cost is still high; [our] labor cost, while if you look at the rate, it’s less than other countries but with all the holidays, it’s a pain point also,” Lachica said on Thursday.

O n top of these costs, the SEIPI chief noted that the industry, along with other exporters as well as im porters, will also be charged fees by the Electronic Tracking of Con

August data

IN August alone, the national gov ernment’s debt service reached a total of P68.297 billion, 9.04 per cent lower than the P75.086 it paid in the same month of last year, BTr data showed.

B Tr data showed the national government’s August debt service

tainerized Cargo (E-TRACC)—the web-based system of the Bureau of Customs (BOC) which enables the Bureau to track, monitor, and audit the location and condition of cargoes, as well as obtain real-time alarms on, among others, diversion and tampering of cargo.

S ection 12.3 of the Customs Memorandum Order (CMO) No. 04-2020 shows the fee structure  of the E-TRACC system service pro vider. It says P500 shall be paid “within 10km radius from port of discharge” while P700 should be charged “beyond 10km radius from port of discharge.”

However, the SEIPI chief ques tioned these charges, citing two factors.“I guess it’s their idea for automating but the problem is, one, there’s no incident of techni cal smuggling in electronics for

the past 30 years so we don’t need it. Secondly, our logistics trackers already have [global positioning system] GPS, it’s a matter of inter facing it [but] that’s why we’re re ally very concerned.”

W hen he was asked how much the additional cost would be on both importers and exporters, Lachica estimated that around P5 million to P20 million a month would be the cost for those who will use contain ers. He added, “That’s not a small cost.”

Still, Lachica said, “the good news” is it has not been imple mented for all, but BOC’s plan is to implement it for exporters and importers that use containers. “The other industries were first because we requested for an exemption but now, they kinda want to take back the exemption.”

lion, while the remaining P10.383 billion, foreign.

S till, the head of SEIPI hopes to iron out these issues with the BOC and the Department of Fi nance (DOF) as these are already affecting the industry’s competi tiveness.

At first they granted us an  ex emption, the Electronics indus try, but now they’ve taken it back and our argument remains the same. ‘Did you do a regulatory impact assessment? No. Did you consider the ease of doing busi ness? No.’ So that’s why it’s a concern and we’re still hoping to meet with BOC and DOF to hope fully find a reasonable decision because it’s really degrading our competitiveness.”

Meanwhile, Lachica said SEIPI is sticking to its 10-percent growth target, to hit over $50 billion for 2022 from last year’s $45.9 billion.

With this arrangement, Rodolfo stressed that the Philippines could lessen its “competitive disadvan tage” in terms of tariff.

T he undersecretary added that ahead of the signing of the FTA, “we are already working with the [Depart ment of Foreign Affairs] DFA so that we can already prepare for the requi site certificates of concurrence by the agencies,” to be followed by the  “sub mission to the Office of the President and determination also by the DFA” of what else needs to be done.

Meanwhile, Rodolfo also pointed to the significance of  the Economic and Technical Cooperation chapter which he said contains “strong pro visions on collaboration on green technology including on electric vehicles.”

I n general, such would be in “industrial manufacturing and in particular electric vehicles,” add ing that the Philippines is focused on  battery technology,” Rodolfo said on Thursday.

ore from the Philippines.”

He added, “They supply, I think, 60 plus percent of China’s imports of nickel ore so bakit hindi nalang tayo dumiretso [why don’t we just deal straight with them], so we can shortcut, we can further collaborate because there is clear synergy in this.”

Apart from these, the Trade official noted that health and biologics is also important since South Korea is “very strong” on test kits and vaccines.

A ccording to the DTI web site, the PH-KR FTA Negotiations was launched in 2019 in Seoul, South Korea by former Trade and Indus try Secretary Ramon M. Lopez and Ministry of Trade, Industry and Energy (MOTIE) Minister for Trade Yoo Myung-hee, recognizing the potential of both countries to advance economic relations by en hancing trade and investment flow between the two nations “through removal of impediments to closer trade and creation of business and investment opportunities.”

comprised P30.773 billion for inter est payments while P37.524 billion was for amortization.

Interest payments made by the government in August was 28.58 per cent higher than the P23.932 billion it made last year, based on BTr data.

T he bulk of the interest pay ments were domestic at P20.39 bil

T he bulk of domestic interest payments, or P11.19 billion, were accounted for by Fixed Rate Trea sury Bonds. This was followed by P7.937 billion paid for Retail Trea sury Bonds.

BTr data also showed that the national government’s debt amorti zation in August was 26.64 percent lower than the P51.54 billion for

the same month last year. Domestic amortization accounted for P22.775 billion, while external amortization reached P14.749 billion.

For 2022, the government has programmed debt payments to reach P1.298 trillion.

I f this is realized, this would be higher than the P1.204 trillion that the government shelled out in 2021 to repay its debts as the Covid-19 pandemic raged.

T he Philippines is after battery technology because the country boasts “one of the biggest battery energy storage systems projects” in the world. Rodolfo noted that the op eration of the Battery Energy Storage (BES) facility is “continuous.”

I n fact, Rodolfo said, “there are two companies in the Philippines in that space and both of them have bought batteries from Samsung SDI of Korea.”

However, he noted that Korea has been importing nickel battery precursor from China “but if you look at the trade profile of China, China has been importing nickel

T he Trade department noted that in negotiating the FTA, the Philippines’s objectives include securing improved market access for agricultural products such as bananas and other tropical fruits, as well as industrial products and other services.

T he DTI earlier said that once enforced, the FTA will be an “im portant vehicle” for improving the balance of trade with Korea through enhanced trade flows, facilitating the movement of natural persons, and generating more investment opportunities and by extension, job generation possibilities.

The Nation

Solons quiz cops on security for POGOs, BFP on gun buys

By Butch Fernandez @butchfBM

LAWMAKERS

quizzed the Phil ippine National Police (PNP) on the status of security pro vided to Philippine Offshore Gaming Operators (POGOs) and the plan of the Bureau of Fire Protection (BFP) to buy guns.

T he call to the PNP was initiated by Senator Maria Lourdes “Nancy” S. Binay at the hearing by the Sen ate Committee on Finance on the proposed 2023 budget of the De partment of Interior and Local Gov ernment and its attached agencies, including the PNP.

Binay sought to get data on the number of PNP personnel assigned to provide security to POGOs, particu larly policemen from the Police Se curity and Protection Group (PSPG) and Highway Patrol Group (HPG).

According to PNP Chief Roldolfo S. Azurin Jr., of the 2,521 person nel of the PSPG, about 2,000 are al lowed to provide protective security to government officials and private individuals with threat assessment. However, he could not ascertain the number of personnel who are provid ing security to POGOs.

During the Senate hearing on the DILG and PNP budgets last Friday, Binay also asked if PNP personnel could provide security to private in dividuals during their day off.

Azurin replied in the negative, saying it is not allowed.

Earlier at the hearing, Sen. Ronald “Bato” M. dela Rosa admonished the PNP chief to stop providing security to POGO people.

According to Dela Rosa, it is pos sible that the reason operators are asking for additional security is because they are engaged in a very dangerous or illegal business.

“Just order the PSPG to stop pro viding security to these POGOs in order to put the issue to rest,” Dela Rosa told Azurin.

Dela Rosa made the call following reports about abuses committed by security personnel of POGOs.

This developed as Senate panel deliberations on the annual bud gets of the DILG and PNP budgets were presided over by Senate Com mittee on Finance Chairman Sen. Juan Edgardo M. Angara.

The proposed 2023 budget of the DILG and its attached agen cies is P251.184 billion, which is 0.70-percent higher than the agency’s 2022 budget.

During the hearing, Angara noted that the committee has increased the budget of the DILG and PNP for the past four years and believed that the trend will continue especially under the leadership of Interior Secretary Benjamin “Benhur” dC. Abalos Jr.

Under the proposal, the PNP will receive a huge portion of the budget amounting to P191.496 billion.

More firetrucks or firearms MEANWHILE, Senate Minority Leader Aquilino Martin “Koko” dlL. Pimentel III expressed disappoint ment over the plan of the BFP to use its savings to procure 2,282 firearms for its firemen in 146 cities and 17 regional offices.

During deliberations on the pro posed 2023 budget of DILG and its attached agencies, Pimentel was in formed by BFP Chief Louie S. Pura can that they have requested the Department of Budget and Manage ment to allow them to use the BFP savings amounting to P45 million to procure firearms.

Puracan said the savings came from the fund intended for the pur chase of new firetrucks.

“So the policy question is, three more firetrucks or 2,000-plus fire arms? I think for the BFP that should be a no-brainer because you know what you are supposed to do,” Pi mentel said.

Senator Joseph Victor “JV” G. Ejercito weighed in on the issue and asked the Bureau of Fire Protection (BFP) to prioritize the distribution of firetrucks to municipalities that still do not have fire stations and fire trucks.

CA denies Coast Guard crews’ plea in 2013 homicide case

By Joel R. San Juan @jrsanjuan1573

THE Court of Appeals (CA) has denied the plea of eight personnel of the Philippine Coast Guard (PCG) to set aside its December 14, 2021, decision that upheld the order of the Regional Trial Court of Manila City sentencing them to 14 years in prison after they were found guilty of homicide involving a Taiwanese fisherman in 2013.

I n a 3-page resolution penned by Associate Justice Ramon A. Cruz, the CA’s Former Tenth Division held that the PCG officers failed to raise new arguments that would warrant the reversal of its Decem ber 2021 decision.

T he accused-appellants, in their motion for reconsideration, insisted that the prosecution failed to estab lish that they were the ones who shot the victim and that their action was in fulfillment of a duty and lawful exercise of a right or office.

T hey argued that the prosecution also failed to establish that there was

conspiracy among them to commit the crime.

Extrajudicial confession

IN September 2019, Manila RTC Judge Eduardo Ramon Reyes found PCG Commander Arnold Enriquez de la Cruz, Seaman Second Class (SN2) Nicky Reynold Aurello, Seaman First Class (SN1) Edrando Quiapo Aguila, SN1 Mhelvin Aguilar Bendo II, SN1 Andy Gibb Golfo, SN1 Sunny Galang Masangkay, SN1 Henry Baco Solo mon and Petty Officer 2 Richard Fer nandez Corpuz guilty of homicide for the killing of Taiwanese fisherman

Hong Shi Cheng, whose fishing ves sel was at the Balintang Channel in Batanes in 2013.

The accused were also ordered to pay, jointly or severally the heirs of Hong the amount of P50,000 as civil indemnity and P50,000 as moral damages which the CA modified in its December 2021 decision by im posing a six percent interest per an num from the finality of the decision until fully paid.

In affirming the trial court’s de cision, the CA gave weight to the extra-judicial confession of Bendo, Golfo and Solomon, which narrated the events that transpired during the incident that led to the victim’s death.

Their sworn affidavits, accord ing to the CA, named the persons on board the monitoring control surveillance 30001 (MCS-3001 ) and the persons who shot at the Taiwanese vessel Guang Da Xing as ordered by Dela Cruz that resulted to Hong’s death.

“As previously discussed, for an extrajudicial confession to be admis sible in evidence against the accused, it must be: (a) voluntary; (b) made with the assistance of a competent and independent counsel; (c) express; and, (d) in writing. All of these req uisites were met in this case.

Failure to substantiate claim

FURTHERMORE, the circumstances

mentioned in our assailed decision “clearly shows that the accused-appel lants are the culprits in the death of the victim,” the CA said. Likewise, the CA did not give credence to the men’s defense of fulfillment of a duty and lawful exercise of a right or office since they failed to substantiate this claim.

“Aside from their bare allegation that the Taiwanese vessel tried to ram their vessel, no evidence was adduced by the accused-appellants to support this claim,” the CA ex plained. “As it happened, shooting the Taiwanese vessel is not reason ably necessary because accusedappellants were not under attack or subject of resistance.”

“The resulting injury or offense was, therefore, not a necessary con sequence of the due performance of duty or the lawful exercise of a right or office,” it added.

The CA pointed out the accusedappellants would have been able to prove their claim during the trial but they chose to waive their right to present witnesses.

“Inarguably, by actively firing at the Taiwanese vessel Guang Da Xing, accused-appellants shall be held guilty of homicide as a result of the death of the victim Hong Shi Cheng. There being no new matters raised that would warrant a reversal or modi fication of our decision, this motion is hereby denied,” the CA declared.

By Jovee Marie N. Dela Cruz @joveemarie

Martin G. Romualdez

SPEAKER

on Sunday announced a P5-mil lion reward from the House of Representatives for anyone who can provide information leading to the arrest of those responsible for the killing of veteran broadcaster Per cival Mabasa, known as Percy Lapid.

In a statement, Romualdez said the bounty will come from the per sonal contributions of House mem bers who were shocked and disturbed by the killing.

“We in the House view with con cern the killing of Percy Mabasa. The perpetrators and the masterminds behind this dastardly act must be brought to justice at all costs,” Ro mualdez said.

“Violence has no place in a civi lized society like ours,” he added.

He lamented the continued vio lence against the media who are just exercising their profession.

“The role of journalists is very critical in ensuring transparency in government. Protecting them is very important in guaranteeing freedom of speech and freedom of expression. We in government, con sider them as partners in nationbuilding,” Romualdez said.

By Claudeth Mocon-Ciriaco @claudethmc3

FOLLOWING

reports of diar rhea cases among the Dumagat tribes in the provinces of Quezon, the Department of Health (DOH)-Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) and the Integrated Provincial Health Office (IPHO) have started to investigate the possible cause of the cases.

A s of September 26 to October 6, 38 cases of diarrhea have been recorded in Barangay Upper Lumu tan General Nakar, with six people dying from severe dehydration.

DOH Calabarzon Regional Di rector Ariel I. Valencia said they are saddened by what happened to the

Dumagat natives “where many have lost their lives because they were not immediately diagnosed and taken to our primary health care facility,”

“Rest assured that we are work ing closely with the IPHO through our RESU to provide the necessary assistance in the affected barangay,”

Valencia said

On September 26, the Provincial Epidemiology and Surveillance Unit (RESU) received the first fatality re port caused by severe dehydration.

On October 1, the RHU Gen Nakar Team was successful in reaching the affected area and conducted a rapid assessment and follow-up investiga tion; they were informed of five more deaths due to dehydration.

“The first death had watery

stools, abdominal pain and vomit ing and was brought to RHU Tanay but was already declared dead on arrival. The same symptoms were observed in five other patients from Barangay Lumutan General Nakar in the previous consultation in RHU Tanay” said Regional Epidemiology and Surveillance Unit (RESU) Head John Bobbie M. Roca.

“Among the signs and symptoms observed in patients were fever, ab dominal pain, watery stool and joint pain and some had coughs and colds,” Roca added.

The DOH Calabarzon has already supplied medicines, aquatabs, hypo sol, oral rehydration solution and specimen kits (Cary Blair Transport Medium) to the RHU.

TAKING OATH Rep. Juan Carlos “Arjo” C. Atayde took his oath as a member of Nacionalista Party (NP). Atayde was sworn in by House Senior Deputy Majority Leader, NP member and Ilocos Norte District 1 Rep. Ferdinand Alexander “Sandro” A. Marcos. Present during Atayde’s oathtaking were (from left): Deputy Speaker Camille Villar-Genuino, Senator Mark A. Villar, Rep. Sandro Marcos, Rep. Atayde, Sylvia Sanchez (Atayde’s mother) and Art Atayde (Atayde’s father). NONOY LACZA

Lower House offers P5M for info to nab radioman’s killers

Economy

Food-service sales seen to expand by 12% Y-o-Y

By Jasper Emmanuel Y. Arcalas @jearcalas

THE country’s food-service sales this year is projected to expand by 12 percent year-on-year to a 3-year high of $9.36 billion that, an international agency added, is driven by the reopening of full-service restaurants following the easing of restrictions against Covid-19.

However, the United States De partment of Agriculture-Foreign Agricultural Service (USDA-FAS) in Manila said the Philippines’s

food service sales this year would remain “far below” than pre-pan demic levels. The country’s foodservice sales last year reached

$8.373 billion, recovering from $7.973 billion in 2020.

The country’s food service sales reached a record-high of $14.582 in 2019, a year before the Covid-19 pandemic hit the global economy.

“FAS Manila projects consumer food service sales to increase 12 per cent in 2022, with full-service restau rants outperforming and cafes and bars underperforming the sector as a whole,” the USDA-FAS Manila said in a Global Agricultural Information Network (Gain) report.

“After gaining a foothold and be ginning to build back in 2021, the food service industry will remain far below pre-pandemic levels in 2022,” the USDA-FAS Manila added.

The USDA-FAS Manila pointed

out that the easing of government restrictions related to the Cov id-19 pandemic encouraged more people to dine-in and hold events this year. With the returning foot traffic, the USDA-FAS Manila ex plained that restaurant chains pursued “expansions.”

The international agency also noted that hotels are experiencing again “more event bookings as local and international tourism pick up.”

“Meanwhile, some consumers still prefer the convenience and safety of online deliveries, drive-throughs and curbside pickups. Higher inflation and logistical costs have increased operational costs while the difficulty hiring employees remains,” it said.

The USDA-FAS Manila said the

Lawmakers seek more funds for tourism promotions; DOT to keep ‘fun’ slogan

By Ma. Stella F. Arnaldo @akosistellaBM Special to the BusinessMirror

ASENATE committee discuss ing the P3.57-billion budget of the Department of Tour ism (DOT) for 2023 agreed to submit it for plenary debate, after lawmakers extracted several commitments from agency officials meant to further raise the profile of the Philippines in the international markets.

Sen. Maria Lourdes “Nancy” S. Binay, chairman of the Senate Com mittee on Tourism and the Commit tee on Finance Subcommittee “J,” also said the body would consider DOT’s request to raise its budget next year, “but we have to get the funds from other agencies.” The DOT originally proposed a P12.2billion budget for 2023.

Responding to Minority Leader Senator Aquilino Martin “Koko” dlL. Pimentel III at Thursday’s budget hearing, Tourism Secretary Chris tina Garcia Frasco said the slogan “It’s More Fun in the Philippines” will be kept, but tweaked in keeping with changing tourist preferences.

“Simply, we have not changed the slogan—and we have no intention of changing it, but rather to evolve it to ensure this reflects the best

qualities of the Philippines,” Frasco said. “Studies have shown that the trends of the world market that postpandemic tourists now want more immersive, substantial, and experi ential tours and travel experiences.”

Binay questioned Frasco’s earlier announced plan to change the slo gan, which she said could take a big slice of the DOT budget.

“You change your slogan every six years, every time a new President is elected, compared to our Asean neighbors e.g. ‘Malaysia: Truly Asia,’ ‘Amazing Thailand.’ It’s not cheap to change a slogan and your budget is limited,” the lawmaker pointed out, reflecting stakeholder sentiments.

Greater access for TPB funds

FRASCO also agreed to promote Unesco World Heritage sites, as suggested by Senator Lorna Regina “Loren” B. Legarda, and will submit a catalogue of possible film sites to promote destinations, where foreign movie productions could shoot, as per request of Senator Grace L. Poe.

Tax incentives for foreign film pro ductions, however, are under a sepa rate agency, the Film Development Center of the Philippines.

Meanwhile, Pimentel said they would study and explore how the Tourism Promotions Board (TPB)

could tap government’s Special Ac count in the General Fund, in which the agency has some P20 billion in funds. For 2023, however, DOT’s marketing arm can only access P1.7 billion for promotions net year.

“ We have to equip you to do what you have to do to promote the Philip pine,” he said.

U

nder the DOT’s proposed budget for 2023, the agency has a 7-point agenda that includes: im proving tourism infrastructure and accessibility; implementing a cohesive and comprehensive digita lization and connectivity; enhanc ing the overall tourism experience; equalizing the development and promotion of tourism products; di versifying the portfolio of tourism products through multidimension al tourism; maximizing domestic tourism; and, strengthening tour ism governance through close col laboration with local government units and stakeholders.

Simplify entry rules

“I HAVE high hopes that, with the support of the Senate, the Tourism Department will receive the budget that it needs to fulfill the vision of the President and the programs that we have prepared,” said Frasco.

“ The amount that you’ll be grant

ing to us will redound to benefit mil lions of Filipinos in terms of new em ployment, new businesses, a recovery of lost livelihood and lost economic opportunities,” the DOT chief said.

Lawmakers also advised the DOT to simplify the entry rules in the Philippines, which currently requires travelers to fill up a One Health Pass (OHP), along with the submission of a vaccination certificate. Senator JV Ejercito added that the booths where travel documents are presented are manned by Philippine Coast Guard personnel, which can scare off tourists.

Frasco assured lawmakers that the DOT “several meetings have been held” with other government agencies such as the Department of Health, Bureau of Quarantine, and Department of Justice-Bureau of Immigration to simplify the OHP, and “ease the remaining protocols… that will signify that the Philippines is really open to the world.”

There were some 1.6 million for eign tourist arrivals in the Philippines from February 10 to September 30, but the country ranked just at number 30 in the places tourists want to travel despite being first in Asia to reopen to vaccinated leisure travelers. (See, “PHL lags behind travel publica tion’scountrylist,”inthe Business Mirror, October 7, 2022.)

limited-service restaurants account for more than half of the Philippines’s food service sales last year at $4.704 billion followed by full-service res taurants at $1.435 billion. The USDAFAS Manila added that street stalls or kiosks accounted for 14 percent of total sales ($1.173 billion) while ca fes and bars contributed 13 percent at $1.062 billion.

The USDA-FAS Manila projected that full-service restaurant sales would rise by 16 percent—the highest growth rate among all segments of the industry—to a 3-year high of $1.66 billion from last year’s $1.435 billion.

“Post forecasts full-service res taurants to hit a 16 percent growth, coming from a low base. After two years in the pandemic, consumers

are becoming more confident to dine in restaurants,” it said.

T he international agency pro jected that sales of limited-service restaurants would grow by 12 percent on an annual basis to $5.264 billion while sales of street stalls and kiosks would increase by the same rate to $1.314 billion.

Post estimates that limitedservice restaurants pose a smaller growth compared to full-service restaurants,” the USDA-FAS Manila said.

Post forecasts street stalls and ki osks sales growth at 12 percent in 2022. Street stalls and kiosks benefited from improved foot traffic in shopping malls and public transportation hubs.,” the USDA-FAS Manila added.

DOT working with govt agencies to address tourism infra issues

By Jovee Marie N. Dela Cruz @joveemarie

THE Department of Tourism has assured Congress that it is working with the different agencies on crafting a “whole-ofgovernment” approach to address inadequate infrastructure that have for long hobbled the Philippines from competing with its Southeast Asian neighbors, a senior lawmaker said.

better, because they have the infra structure going to these places.

He said the Philippines has better beaches than Phuket Island in Thai land, for example, but the latter is a relatively more popular destination for foreign tourists, partly because of its better infrastructure. Phuket’s airport alone is even bigger than our No. 1 gateway, the Ninoy Aquino In ternational Airport (Naia), he added.

SEN.

Sherwin T. Gatchalian is up

beat about the prospects of more investors in renewable energy (RE) “to rise substantially” in the wake of the Department of Justice (DOJ) opinion affirming that “natural resources includ ing solar, wind, hydro and ocean or tidal energies are not covered by the constitu tional limitation on foreign ownership.”

T his, even as Gatchalian acknowl edged in a statement last Sunday, that “the flow of investments is hinged on amending the Implementing Rules and Regulations of Republic Act (RA) 9513 or the Renewable Energy Act of 2008.”

He reminds that “the removal of the 40-percent foreign ownership cap is a game changer.” The lawmaker noted this would “put the country on the right path of creating an investment climate that would enhance the establishment of more renewable energy facilities amid global efforts to address climate change and ongoing conflict between Russia and Ukraine.” Moreover, the senator stressed that wider adoption of RE in the country “could progressively bring down power rates for the benefit of consumers and create more jobs within the communities concerned.”

From where he sits as vice chairman of the Senate Committee on Energy, Gatch alian views the absence of foreign own ership limitation on RE facilities “augurs well with a recent decision of the energy department to increase the percentage of RE utilization for on-grid areas from 1 percent to 2.52 percent and in line with the DOE’s vision of powering up commu nities with clean and sustainable energy systems.” He reminds that the increase to 2.52 percent shall take effect in 2023 yet.

C amarines Sur Rep. Luis Ray mund “Lray” Villafuerte Jr. said in a statement that Secretary Ma. Esper anza Christina Garcia-Frasco agreed the department should not focus alone on just promoting the country’s must-see places but also on dealing with the other issues that have for long fettered the Philippines from overtaking neighboring countries in terms of foreign tourists arrivals.

Villafuerte, the Commission on Appointments majority floor leader, commended Frasco for baring plans to team up with local government units (LGUs) and the private sector in boosting tourism nationwide. He stressed to her that one priority ac tion for this sector is building enough and better infrastructure across the country to ensure seamless travel from Manila to our tourist spots, especially those in remote places.

For instance, he said, while an air port is the first and last place that a for eign tourist sees in a country, the DOT has no say whatsoever how airports are run as these are under the supervision of the Department of Transportation.

Infra is key

VILLAFUERTE recalled that in the al location for the Bayanihan to Recover as One Act (Bayanihan 2 law) under the national budget, he had proposed the allocation of a P10-billion outlay for tourism infrastructure under the Tourism Infrastructure and Enterprise Zone Authority , but this was not in cluded in the final version of the 2022 General Appropriations Act (GAA).

The lawmaker said infrastruc ture is really the key to tourism de velopment. He pointed out that the beaches of Thailand, Malaysia and Malaysia are more popular destina tions even if the Philippines’s are

“What does Thailand, Malaysia, Vietnam and Indonesia have that we don’t? In terms of beauty, I think our beaches are much better. But we have to admit their infrastructure is much better than ours. When you land in Thailand, when you land in Malaysia, you can go to any destination with seamless travel,” he said.

“Here if you land in the airport and you want to go to Boracay, Bukidnon or Bicol there is no linkage,” he said. “I know you (Frasco) are very gung-ho on promoting tourism but I know your hands are tied in terms of infrastruc ture. For example, you want to develop a site, how will you fund that?”

Tourism fund

FRASCO told the CamSur congressman she has consulted the heads of other agencies such as the DOTr, the Depart ment of Public Works and Highways (DPWH), the Department of Transpor tation(DOTr),theDepartmentoftheIn teriorandLocalGovernment(DILG)and theDepartmentofofHealth(DOH)that have respective jurisdictions over con cerns that affect the tourism business.

Frasco said that in the absence of an infrastructure development bud get in her department, she has pushed for the establishment of a tourism in frastructure development fund so the DOT can build facilities that cannot be put up by other agencies.

“In addition to this, we have also already presented to the DOTr all of our suggestions as far as the changes to the airport; notwithstanding the fact that the infrastructure and gate way access are not within the primary review of the DOT,” she said. “We fully recognize their importance as far as the success of the DOT, and that is why the effort on my part has been to reach out to these government agencies and to work closely with them.”

Govt lawyers' opinion on investments seen to lure more investors

THIS Saturday, September 3, 2022 photo shows the back beach of Boracay Island, which remains at its best in attracting both local and foreign tourist. Camarines Sur Rep. Luis Raymund “Lray” Villafuerte Jr. said while Boracay Island is better than those in the country’s neighbors, the latter have better tourist-centric infrastructure. NONILON REYES

The World

Editor: Angel R. Calso

China lashes out at latest US export controls on chips

BEIJING—China on Saturday criticized the latest US decision to tighten export controls that would make it harder for China to obtain and manufacture advanced computing chips, calling it a violation of international economic and trade rules that will “isolate and backfire” on the US.

“Out of the need to maintain its sci-tech hegemony, the US abuses export control measures to maliciously block and suppress Chinese companies,” said Foreign Ministry spokeswoman Mao Ning.

“It will not only damage the legitimate rights and in terests of Chinese companies, but also affect American companies’ interests,” she said.

Mao also said that the US “weaponization and politici zation” of science and technology as well as economic and trade issues will not stop China’s progress.

She was speaking after the US on Friday updated export controls that included adding certain advanced, high-per formance computing chips and semiconductor manufac turing equipment to its list, as well as new license require ments for items that would be used in a supercomputer or for semiconductor development in China.

The US said that the export controls were added as part of ongoing efforts to protect US national security and for

Mourners pray at thai teMple filled by children’s keepsakes

By Tassanee Vejpongsa & David Rising The Associated Press

UTHAI SAWAN, Thailand—Grief-stricken families prayed Saturday at a Buddhist temple filled with children’s keepsakes, flowers and photos of the smil ing toddlers who were slain as they napped on blankets at a d ay care center in northeastern Thailand.

Coffins containing the 36 killed, 24 of them children and most of them preschoolers, were released Friday and placed inside Wat Rat Samakee and two other temples in the town nestled among rice paddies in one of Thailand’s poorest regions.

Several mourners stayed at Wat Rat Samakee overnight in the tradition of keeping company for those who died young.

“All the relatives are here to make merit on behalf of those who died,” said Pensiri Thana, an aunt of one of the victims, referring to an important Buddhist practice. She was among those staying the night at the temple. “It is a tra dition that we keep company with our young ones. It is our b elief that we should be with them so they are not lonely.”

The massacre left no one untouched in the small town, but community officials found helping others was helping assuage their own grief, at least momentarily.

“At first, all of us felt so terrible and couldn’t accept this. All the officials feel sad with the people here. But we have to look after everyone, all these 30 victims. We are running around and taking care of the people, giving them moral sup port,” Somneuk Thongthalai, a local district official, said.

A m ourning ceremony will continue for three days before the royal-sponsored funerals, which will culminate in the cremation of the bodies according to Buddhist tradition. No clear motive may ever be known for Thailand’s dead liest mass killing after the perpetrator left the day care c enter Thursday and killed his wife and son at home before taking his own life.

Late Friday, King Maha Vajiralongkorn and Queen Suthida visited hospitals where seven people wounded in the attack are being treated. The monarch met with family members of the victims in what he said was a bid to boost morale.

“It is a tragedy that this evil thing has happened,” the king told reporters in a rare public appearance. “But right now, we have to think of what we can do to improve things to the best of our ability.”

Outside the Young Children’s Development Center in Uthai Sawan, bouquets of white roses and carnations lined an outside wall, along with five tiny juice boxes, bags of corn chips and a stuffed animal.

At Wat Rat Samakee, mourners and those trying to lend them support crowded the grounds.

“It was just too much. I can’t accept this,” said Oy Yod khao, 51, sitting Friday on a bamboo mat in the oppressive h eat as relatives gave her water and gently mopped her brow.

Her 4-year-old grandson Tawatchai Sriphu was killed, and she said she worried for the child’s siblings. The fam ily of rice farmers is close, with three generations living u nder one roof.

Police identified the attacker as Panya Kamrap, 34, a former police sergeant fired earlier this year because of a drug charge involving methamphetamine. An employee at the day care told Thai media Panya’s son had attended but hadn’t been there for about a month. Police have said they believe Panya was under a lot of stress from tensions between him and his wife, and money problems. Associated Press writers Chalida Ekvitthayavechnukul, Grant Peck and Kaweewit Kaewjinda in Bangkok contributed to this report

t h e american and chinese flags wave at Genting snow park ahead of the 2022 Winter olympics on feb. 2, 2022, in Zhangjiakou, china. the commerce department is tightening export controls to limit china’s ability to get advanced computing chips, develop and maintain supercomputers, and make advanced semiconductors.

eign policy interests.

US-China relations have deterio rated in recent years over technology and security issues. The US has imple mented a raft of measures and restric tions designed to prevent China from obtaining chip technology, while China has earmarked billions for investment into the production of semiconductors.

The tensions have impacted semi conductor companies in the US and globally which either export chips or manufacture chips in China. Semicon

ductor companies such as Nvidia and AMD has seen a 40% decline in stock price over the past year.

“We understand the goal of ensur ing national security and urge the US government to implement the rules in a targeted way—and in collaboration with international partners—to help level the playing field and mitigate un intended harm to US innovation,” the Semiconductor Industry Association, which represents US semiconductor industry, said in a statement.

AP

AP

Blast on bridge to Crimea hurts Russian supply lines and pride

By Adam Schreck & Vasilisa Stepanenko The Associated Press

KYIV, Ukraine—An explosion Saturday caused the partial collapse of a bridge linking the Crimean Peninsula with Russia, damaging an important supply artery for the Kremlin’s faltering war effort in southern Ukraine and hitting a towering symbol of Russian power in the region.

tion” that had downplayed the scope of fighting to ordinary Russians.

Putin signed a decree late Saturday tightening security for the bridge and for energy infrastructure between Crimea and Russia, and put Russia’s federal security service, the FSB, in charge of the effort.

suffer battlefield losses.

The explosion, which Russian au thorities said was caused by a truck bomb, risked a sharp escalation in Russia’s eight-month war, with some Russian lawmakers calling for President Vladimir Putin to declare a “counterterrorism operation,” shed ding the term “special military opera

Hours after the explosion, Rus sia’s Defense Ministry announced that the air force chief, Gen. Sergei Surovikin, would now command all Russian troops in Ukraine. Surovi kin, who this summer was placed in charge of troops in southern Ukraine, had led Russian forces in Syria and was accused of overseeing a bombard ment that destroyed much of Aleppo.

Moscow, however, continues to

On Saturday, a Kremlin-backed official in Ukraine’s Kherson region announced a partial evacuation of civilians from the southern province, one of four illegally an nexed by Moscow last week. Kirill Strem ousov told Russia’s state-run RIA Novosti agency that young children and the elderly could be relocated because Kherson was getting “ready for a difficult period.”

The 19-kilometer (12-mile) Kerch Bridge, on a strait between the Black Sea and the Sea of Azov, is a symbol of Moscow’s claims on Crimea and an essential link to the peninsula, which Russia annexed from Ukraine in 2014. The $3.6 billion bridge, the longest in Europe, is vital to sustaining

Russia’s military operations in southern Ukraine. Putin himself presided over the bridge’s open ing in 2018.

The attack on it “will have a further sapping effort on Rus sian morale, (and) will give an extra boost to Ukraine’s,” said James Nixey of Chatham House, a think tank in London. “Con ceivably the Russians can rebuild it, but they can’t defend it while losing a war.”

Ukrainian President Volody myr Zelenskyy, in a video ad dress, indirectly acknowledged the bridge attack but did not address its cause.

“Today was not a bad day and mostly sunny on our state’s terri tory,” he said. “Unfortunately, it was cloudy in Crimea. Although it was also warm.”

Zelenskyy said Ukraine wants a future “without occu piers. Throughout our territory, in particular in Crimea.”

Zelenskyy also said Ukrai nian forces advanced or held the line in the east and south, but ac knowledged “very, very difficult, very tough fighting” around the city of Bakhmut in the eastern Donetsk region, where Russian forces have claimed recent gains.

Russia’s National Anti-Ter rorism Committee said a truck bomb caused seven railway cars carrying fuel to catch fire, result ing in the “partial collapse of two sections of the bridge.” A couple riding in a vehicle on the bridge were killed, Russia’s Investiga tive Committee said. It didn’t say who the third victim was.

All vehicles crossing the bridge are supposed to un dergo state-of-the-art checks for explosives. The truck that exploded was owned by a resi dent of the Krasnodar region in southern Russia, the Investiga tive Committee said, adding that the man’s home was searched and experts were looking at the truck’s route.

Train and automobile traffic over the bridge was temporarily suspended. Automobile traffic resumed Saturday afternoon on one of the two links that re mained intact, with the flow al ternating in each direction, said Crimea’s Russia-backed leader, Sergey Aksyonov.

Rail traffic was resuming slowly. Two passenger trains left the Crimean cities of Sev astopol and Simferopol and headed toward the bridge Sat urday evening. Passenger ferry links between Crimea and the Russian mainland were being relaunched Sunday.

While Russia seized areas north of Crimea early in its in vasion of Ukraine and built a land corridor to it along the Sea of Azov, Ukraine is pressing a counteroffensive to reclaim that territory.

The Russian Defense Minis try said its troops in the south were receiving necessary sup plies through that corridor and by sea. Stepanenko reported from Kharkiv, Ukraine. Francisco Seco contributed from Kharkiv and Justin Spike from Lyman, Ukraine.

North Korea launches 2 missiles toward sea after US-S. Korea drills

By Hyung-Jin Kim & Mari Yamaguchi

The Associated Press

EOUL, South Korea—North Korea fired two short-range bal listic missiles toward its eastern waters on Sunday, the latest of a recent barrage of weapons tests, a day after it warned the redeployment of a US aircraft carrier near the Korean Penin sula was inflaming regional tensions.

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South Korea’s Joint Chiefs of Staff said in a statement that it detected two missile launches Sunday between 1:48 a.m. and 1:58 a.m. from the North’s eastern coastal city of Munchon. It added that South Korea’s military has boosted its surveillance posture and maintains a readiness in close coordination with the United States.

Japanese Vice Defense Minister Toshiro Ino also confirmed the launch es, saying Pyongyang’s testing activi ties are “absolutely unacceptable” as they threaten regional and interna tional peace and security.

Ino said the weapons could be sub marine-launched ballistic missiles. “We are continuing to analyze details of the missiles, including a possibility that they might have been launched from the sea,” Ino said.

North Korea’s pursuit of an abil ity to fire missiles from a submarine would constitute an alarming develop ment for its rivals because it’s harder to detect such launches in advance. North Korea was believed to have last tested a missile launch from a subma rine in May.

The South Korean and Japanese militaries assessed that the missiles flew about 350 kilometers (217 miles) and reached maximum altitudes of 90 to 100 kilometers (56 to 60 miles) be fore falling into the waters between the Korean Peninsula and Japan.

Japanese Prime Minister Fumio Kishida separately instructed officials to gather and analyze all information they could and expedite any updates about the tests to the public. His of fice said it also was seeking to ensure the safety of all aircraft and ships in waters around Japan while preparing for any contingencies.

South Korea’s presidential office said National Security Director Kim Sung-han called an emergency secu rity meeting over the launches where members reviewed the South’s defense preparedness and discussed ways to strengthen cooperation with the United States and Japan to counter the growing North Korean threats.

Seoul warned that Pyongyang’s consecutive provocations will deepen its international isolation and in crease the “instability of the regime” by worsening its economy and people’s livelihoods.

The US Indo-Pacific Command said in a statement that the launches didn’t pose any immediate threat to US personnel or territory, or to its

allies. But it said the launches high light “the destabilizing impact” of North Korea’s unlawful weapons of mass destruction and ballistic missile programs. It said US commitments to the defense of South Korea and Japan remain “ironclad.”

The launch, the North’s seventh round of weapons tests in two weeks, came hours after the United States and South Korea wrapped up two days of naval drills off the Korean Peninsula’s east coast.

The drills involved the nuclearpowered aircraft carrier USS Ronald Reagan and its battle group, which re turned to the area after North Korea fired a powerful missile over Japan last week to protest the carrier group’s previous training with South Korea.

On Saturday, North Korea’s De fense Ministry warned that the Rea gan’s redeployment was causing a “considerably huge negative splash” in regional security. The ministry called its recent missile tests a “righteous reaction” to intimidating military drills between South Korea and the United States.

North Korea regards US-South Ko rean military exercises as an invasion rehearsal and is especially sensitive if such drills involve US strategic assets such as an aircraft carrier. North Ko rea has argued it was forced to pursue a nuclear weapons program to cope with US nuclear threats. US and South Korean officials have repeatedly said they have no intentions of attacking the North.

North Korea has launched more than 40 ballistic and cruise missiles in over 20 different events this year, exploiting a division in the U.N. Se curity Council deepened over Russia’s war on Ukraine as a window to speed up arms development.

The record number of tests included last week’s launch of a nuclear-capable missile that flew over Japan for the first time in five years. It was estimated to have traveled about 4,500-4,600 kilo meters (2,800-2,860 miles), a distance sufficient to reach the US Pacific ter ritory of Guam and beyond.

South Korean officials say Pyong yang may up the ante soon by conduct ing an intercontinental ballistic missile or a nuclear test explosion, following a traditional pattern of manufacturing diplomatic crises with weapons tests and threats before offering negotia tions aimed at extracting concessions.

There are also concerns about provo cations along the Koreas’ land and sea borders.

Sunday’s launches came on the eve of the 77th anniversary of the founda tion of the North Korean ruling Work ers’ Party.

Earlier this year, North Korea tested other nuclear-capable ballistic missiles that place the US mainland, South Ko rea and Japan within striking distance.

Associated Press writer Kim Tong-hyung in Seoul, South Korea, contributed to this report.

2 killed as demonstrations around Iran enter 4th week

By Samya Kullab The Associated Press

ULIMANIYAH, Iraq—Antigovernment demonstrations erupted Saturday in several locations across Iran as the most sustained protests in years against a deeply entrenched theocracy entered their fourth week. At least two people were killed.

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Marchers chanted anti-govern ment slogans and twirled heads carves in repudiation of coercive religious dress codes. In some ar eas, merchants shuttered shops in response to a call by activists for a commercial strike or to protect their wares from damage.

The protests erupted Sept. 17, af ter the burial of 22-year-old Mahsa Amini, a Kurdish woman who had died in the custody of Iran’s feared morality police. Amini had been de tained for an alleged violation of strict Islamic dress codes for women.

Since then, protests spread across the country and were met by a fierce crackdown, in which dozens are es timated to have been killed and hun dreds arrested.

In the city of Sanandaj in the Kurdish-majority northern region, one man was shot dead Saturday while driving a car in a major thoroughfare, rights monitors said. The Francebased Kurdistan Human Rights Net work and the Hengaw Organization for Human Rights, said the man was shot after honking at security forces stationed on the street. Honking has become one of the ways activists have been expressing civil disobedience. Video circulating online showed the slain man slumped over the steer ing wheel, as distraught witnesses shouted for help.

The semi-official Fars news agen cy, believed to be close to the elite paramilitary force, the Islamic Rev olutionary Guard, said Kurdistan’s police chief denied reports of using live rounds against protesters.

Fars claimed that people in Sanan daj’s Pasdaran Street said the victim was shot from inside the car without elaborating. But photos of the dead man indicate that he was shot from his left side, meaning he likely was not shot from inside the car. The blood can be seen running down the inside of the door on the driver’s side.

Flame and smoke rise from Crimean Bridge connecting Russian mainland and Crimean peninsula over the Kerch Strait, in Kerch, Crimea on Saturday, Oct. 8, 2022. Russian authorities say a truck bomb has caused a fire and the partial collapse of a bridge linking Russia-annexed Crimea with Russia. Three people have been killed. The bridge is a key supply artery for moscow’s faltering war effort in southern Ukraine. AP PhotoNobody immediately claimed responsibility for the blast, which killed three people. The speaker of the Russian-backed regional parlia ment in Crimea accused Ukraine, but Moscow didn’t apportion blame. Ukrainian officials have repeatedly threatened to strike the bridge, and some lauded the destruction on Sat urday. But Kyiv stopped short of claiming responsibility.

The World

China’s Covid infections rebound as party gears up for key congress

China is being hit by a rebound in Covid-19 cases following the week-long national Day holiday, just as the country’s top leaders gather in Beijing for a meeting with President Xi Jinping.

The nation recorded 1,645 new Covid infections on Saturday, the highest total since Sept. 2. While Inner Mongolia and Xinjiang had the biggest clusters, both Beijing and Shanghai found new cases outside of quarantine, suggesting the virus might be still spreading.

While the eight new cases re ported in the capital on Saturday are relatively few, any rebound in infections would pose a headache for leaders. Some 3,000 delegates are gathering in the city to attend the twice-a-decade congress start ing October 16 that’s expected to hand Xi a norm-breaking third term in power. A preparatory meet ing of roughly 370 members and alternate members of the Central Committee is scheduled to begin Sunday.

Beijing has found 10 transmis

sion chains across eight districts since the latest flareups started on Sept. 29, an official with the city’s Center for Disease Prevention and Control said at a press briefing on Saturday afternoon.

A surge in Covid cases nation wide would be embarrassing for Xi, who has maintained his zero tolerance strategy against the vi rus—accepting the social and eco nomic cost of snap lockdowns and centralized quarantining – to avoid the death tolls seen in other parts of the world.

On Thursday, parts of the south ern province of Hainan, which re cently got an outbreak that start ed in August under control, were locked down again. The capital, Haikou, ordered all residents to stay at home and suspended public transport between the hours of 7

a.m. to 10 p.m. on October 6 after finding four cases in the past two days. The popular tourist spot of Sanya city, which ended its last lockdown just two weeks ago, is doing mass testing and has sealed off some attractions after detect

ing two asymptomatic infections last Monday.

Elsewhere, CCTV reported resi dents of Guanghan in Sichuan province were ordered to stay at home starting Thursday morning. While the city is small, it’s close to

the megacity of Chengdu, which only recently exited a two-week lockdown.

The flareups are challenging authorities’ efforts to curb Covid’s spread before the Party Congress in mid-October. Covid Zero has

been a cornerstone of Xi’s leader ship, and measures such as snap lockdowns and centralized quar antine are viewed as necessary to avoid the death tolls seen in other parts of the world, even as social and economic costs are mounting.

Xinjiang reported 97 infec tions, the country’s second-highest tally. All trains and long-distance coaches are suspended, and many flights have been canceled, leaving the Alaska-sized region essentially sealed off. People wanting to leave Xinjiang need to apply for permis sion and sign a letter saying they’ll accept punishment if they’re found to have breached Covid-prevention rules.

Xinjiang has been struggling to contain an outbreak since August, with residents going hungry and unable to access medical care dur ing extended lockdowns in several cities including Yili and the capital, Urumqi. The region’s Vice Chair man Liu Sushe last week apologized to other provinces that have had cases spread from the area.

The outbreak “is a public health emergency with the fastest trans missions, the widest scope, with the most people infected and the most challenging in Xinjiang’s his tory,” Liu said in a recent briefing. Bloomberg News

The World

Danger of $4-T hole in world outlook seen haunting IMF

By Eric Martin

Global finance chiefs gather in Washington in the coming days with the warning of a possible $4 trillion loss in the world’s economic output ringing in their ears.

That’s the Germany-sized hole in the growth outlook through 2026 that International Monetary Fund chief Kristalina Georgieva identi fied last week as a looming risk.

She’ll play host as central bank ers, finance ministers and others confront the fallout on the global economy of rampant inflation, aggressive monetary-policy tight ening, rising debt and the biggest ground war in Europe since World War II.

That the IMF and World Bank an nual meetings will be fully in-person for the first time since the outbreak of Covid-19 in early 2020, showing progress in bringing the pandemic to heel, will be of limited comfort given other headaches.

The current confluence of eco nomic, climate and security crises makes it unlike anything global policy makers have seen since 1945. Yet certain elements, such as the emerging-market havoc wreaked by Federal Reserve interest-rate hikes in the early 1980s, chime with the present predicament.

“The big question for the meet ings is, ‘What are we going to do in terms of the institutional response

to this, beyond business as usual’,” Masood Ahmed, president of the Washington-based Center for Global Development, said last week.

Here’s a quick look at some issues officials will grapple with:  World Economic Outlook: the IMF releases this on Tuesday. Geor gieva said last week that the 2023 global growth forecast of 2.9 percent will be lowered.

Ukraine: the country Vladimir Putin’s forces invaded in February will stay in focus, from the impact of a depleted grain harvest to Rus sia’s gas squeeze on Europe. The IMF board on Friday approved a $1.3 bil lion loan for Ukraine, its first lend ing to the nation since early March.

Food prices: the IMF board last month approved a new emergency finance “food shock window” to help nations hurt by rising agricul tural costs.

The UK: the country remains vulnerable after market turmoil forced a partial U-turn on a tax-cut package from new Prime Minister Liz Truss’s government that was panned by the IMF.

The Fed: US tightening is hurt ing other economies. IMF calcula

tions show 60 percent of low-income countries and a quarter of emerging markets at or near debt distress.

Climate: the crisis is only getting worse, as shown recently by disas ters from flooding in Pakistan to a hurricane that slammed Puerto Rico and Florida.

Elsewhere this week, a faster core inflation reading in the US, UK fi nancial stability news, a South Ko rean rate hike and the Nobel Prize for economics will be among highlights.

“When foreign finance minis ters and central bankers gather in Washington for the World Bank-IMF meetings in the coming week, many may claim the rest of the world can’t afford any further Fed hikes,” said Bloomberg economists Anna Wong, Andrew Husby and Eliza Winger.

Bloomberg’s wrap of what’s coming up elsewhere in the global economy:

US economy I N t he US, the consumer price index is the highlight in the coming week. The Labor Department’s report on Thursday will offer Fed officials a snapshot of how inflationary pres sures are evolving after a series of huge interest-rate increases.

Economists estimate the CPI rose 8.1% in September from a year ago, marking a deceleration from the prior month’s 8.3% annual in crease as energy prices settled back. However, excluding fuel and food, the so-called core CPI is still ac celerating—it’s expected to show a 6.5 percent annual gain, versus 6.3 percent in August.

An increase of that magnitude in the core measure would match the largest advance since 1982, illustrat ing stubborn inflation and keep ing the pump primed for a fourthstraight 75 basis-point rate increase at the Fed’s November meeting.

Investors will hear from a num ber of US central bankers in the coming week, including Vice Chair Lael Brainard and regional Fed presidents Loretta Mester, Charles Evans and James Bullard. Minutes of the Fed’s September meeting will be released on Wednesday.

Other data include figures on prices paid to US producers. Socalled wholesale inflation has shown signs of moderating as commodity prices weaken amid concerns about a global economic slowdown.

The week will be capped by re tail sales data. Economists fore

cast a modest monthly advance in September, helped by a pickup in purchases of motor vehicles. Exclud ing cars, the value of retail sales is seen declining for a second month. Because the figures aren’t adjusted for inflation, the data suggest de mand for merchandise slowed in the third quarter.

Asia

B A NK of Korea Governor Rhee Chang-yong may resort to a mini U-turn on the scale of rate hikes. While he returned to the usual quarter-point increment in August, many economists see him opting for a move twice that size on Wednesday as the Fed’s rapid tightening piles pressure on the won.

The Monetary Authority of Sin gapore is seen set to tighten for a fifth straight meeting, while the State Bank of Pakistan is expected to keep the benchmark rate steady for a third.

Assistant Governor Luci El lis may shed light on the Reserve Bank of Australia’s latest think ing on policy following its pivot to smaller hikes.

Bank of Japan Governor Har uhiko Kuroda and Finance Minister Shunichi Suzuki will be in Washing ton for the IMF meetings, with the yen’s movements still under close scrutiny.

Europe, Middle East, Africa

T H E w eek kicks off with an nouncement of the Nobel Prize for economics on Monday. The award was established by Swe den’s Riksbank in 1968, adding a sixth category to existing prizes

for physics, chemistry, medicine, peace and literature. Three USbased academics won in 2021 for work using experiments that draw on real-life situations to revolu tionize empirical research.

The Bank of England’s Financial Policy Committee will take center stage on Wednesday, a sure-fire sign the UK is facing significant issues.

The panel, responsible for emer gency intervention to prevent a bond-market spiral last month, will release a record of its latest meet ing. That may offer insights into whether officials see a risk of re newed turmoil that already plagued pension funds following Britain’s mini-budget. It may also address the implications of a sharp increase in mortgage rates.

BOE Governor Andrew Bailey is among several officials due to speak in the coming week, many of whom will appear at or around the IMF meetings.

Similarly, several other officials from around Europe will speak in Washington or nearby. European Central Bank President Christine Lagarde, and Thomas Jordan, her Swiss National Bank counterpart, are both scheduled to deliver re marks.

In terms of European data, the UK will offer the most significant news. Jobs and growth reports may paint a richer picture of how the British economy is faring amid soaring rates and high inflation.

Euro-zone industrial production on Wednesday is likely to have par tially rebounded in August after a much bigger decline the previous month. Bloomberg News

DIlG c hief visits

I

N TERIOR Sec retary Benhur Aba los visited de Lima and shared this with media: “A detention prisoner stabbed a prison guard and freed the cell of two other prisoners. Immediately, of the tree, two escapees were neutralized by sniper guards while escaping. The third one passed thru an alley trying to es cape. Near the vicinity was the facility of S enator de Lima. The surviving escapee entered the facility of Sen de Lima. She was held hostage by the escapee. How ever, during negotiations, Col. Pespes found an opening and was able to neu tralize the esacapee/hostage taker.

Senator de Lima is safe. Upon in structions from President Bongbong M arcos, another facility would be provided Senator de Lima, keeping in mind her safety.” Abalos said the for mer senator was given the “option…to e ither remain at her current facility or be transferred to another one. What is paramount is the safety of Senator de Lima. Senator de Lima opted to stay at her current facility.”

Continued from A12

Psychological help M A LACA ñ ANG s aid both Agustin and de Lima will be provided medical and psychological aid they will need to re cover from the incident.

M arcos ordered Camp Crame to pre vent similar hostage-taking and similar a cts of violence in the PNP detention centers in the future.

PNP Chief Gen. Rodolfo Azurin, Jr. has ordered the in-depth investigation of the attempted escape of the three detainees.

De Lima, who faces trial in Muntin lupa courts on drug-related charges dat ing back to her stint as Justice Secretary b efore being elected senator in 2016, has been detained since 2017.  She has denounced the charges as fabricated, and blames former President Rodrigo Duterte, who has not hidden his disdain for the former senator. De Lima crossed swords with Duterte when she insisted on pursuing an investigation of his al leged human rights violations dating b ack to his days as Davao City mayor.

With a report by Glen Jacob Jose

Meanwhile, the APHR said “authorities should also launch an impartial investigation on this morning’s incident and thor oughly review the security condi tions in the Camp Crame Custo dial Center and other detention facilities in the country.”

Labor groups, for their part, called on President Ferdinand “Bongbong” R. Marcos Jr. to fa cilitate de Lima’s release rather than just transferring her to a new facility.

The Nagkaisa labor coalition hopes Marcos could instruct the Department of Justice (DOJ) to withdraw its opposition to the motion filed by the lawyer of Rafael Ragos to suppress and expunge all his previous affida vits against de Lima on her drug trafficking charge

“President Marcos can rectify the injustice done to Senator De Lima by the previous adminis tration by expediting her release from detention,” Nagkaisa said.  Marcos had said he will ask de Lima if she wants to be trans

ferred to a new facility follow ing the hostage-taking incident during the weekend. Interior Secretary Benhur Abalos said,  however, that when he visited de Lima on Sunday, she indicated that she prefers to stay in the same detention area.

Ragos, a former Bureau of Correction officer-in-charge, testified he delivered cash to De Lima from drug traffickers, who were detained in the New Bilibid Prison. This led to the detention of de Lima in 2017.

His attempts to recant the

said statement in court are being blocked by the DOJ.

De Lima and Police Corporal Roger Agustin were briefly held hostage by three detainees in the  Philippine National Police (PNP) Custodial Center last Sun day morning.

During the ordeal, Agustin was stabbed by the hostage tak ers, while de Lima was left un hurt.

The hostage takers were later “neutralized” by the PNP Special Action Force personnel. Samuel P. Medenilla

Learn from lessons in Duterte infra program, experts urge Marcos

Continued from A12

“There was weak strategic guidance…There was poor project appraisal. I don’t think the  Na tional Economic and Development Authority, Department of Trans portation, and the Department of Public Works and Highways have an internal capacity to do rapid appraisal. You always need World Bank money, ADB money to hire consultants. Then you have poor project selection and budgeting. As usual, completion delays and cost overruns. And very few interim and ex-post project evaluations are

done in our projects,” Patalinghug  explained.

Patalinghug, however, noted that the institutional problem of departments lacking absorptive capacity cannot be solved within the next six years of the Marcos administration.

“So, the best thing for President Marcos Jr. is just to look at the shovel-ready projects left by the Duterte government and implement them—the Metro Manila subway, the North-South Commuter Rail way. This must transect shovelready projects like the Calamba, Tu tuban [railway], it is still lacking in

bidding acceptance from DOTr for the past two years,” he explained.

Patalinghug also recommended prioritizing consumer-friendly projects and streamlining the ap proval process of major infrastruc ture projects.

“[One], make it super ready in less than two years, not spend three to four years for processing projects. Two, strengthen proj ect management and monitoring. Three, simplify the Implementing Rules and Regulations [IRR] of the Procurement Reform Law. Four, improve the regulatory framework in the PPP program by focusing on

solicited proposals,” he said.

“In Stratbase ADR Institute, we advocate for the government’s adoption of a more investmentdriven strategy for long-term growth and development. And we’ll continue to champion how the pri vate sector has demonstrated its ca pacity as a prime mover, not only in innovation in delivering goods and services, but in creating value in the lives of the statements of Philippine society. They create jobs, alleviate poverty, and now are champions in promoting sustainability,” ex plained Stratbase ADR Institute

IAM g rateful to all who expressed concern for my well-being in the aftermath of the surreal hostagetaking incident that happened this Sunday morning.

I have already endured more than five years of unjust detention inside the PNP Custodial Center. It was therefore far thest from my mind that on top of this ordeal, I also had to survive the knife of a fellow detainee (reportedly an Abu Sayyaf member) who took me hostage in a desperate attempt to make known their grievances to the public.

After being told by the hostage-taker that since his two other companions were already dead, he might just as well also kill me, I consider what happened to me as a near-death experience.

If not for the timely intervention of the PNP security force, I don't think I would have come out alive since the hostage-taker was already determined

to die and take me with him.

I am now safe and sound except for the lingering pain on my chest where the hostage-taker pressed the point of his knife while holding me hostage. Please also pray for the injured police officer who, like me, was the other but more unfortunate victim of this incident. While I have survived with only a knife mark and some considerable distress, he is still fighting for his life.

Let us all pray for his quick recovery.

While I am still trying to recover psychologically and emotionally from this harrowing experience, I am sure of one thing that I learned from it. Being so near death has only made me value life even more.

Thank you for all your prayers. Most of all, I thank the Lord for being by my side during those terrible moments, and for saving my life today.

GEoPolITICAl

Continued from A12

Meanwhile, Environmental, social and governance (ESG) re mains the number one risk and o pportunity in mining and met als, according to the survey re spondents.

T he survey shows that 76 per cent of the respondents cited wa ter management as their top ESG r isk.

This was followed by decar bonization, which 57 percent of t he respondents agreed to.

“Access to clean water is a hu man right. We need to allow local c ommunities access to clean wa ter and make sure that we don’t

CoSTS ToP MInInG rISKS

c ontaminate the water sources around our operations,” one mining leader noted, according to the report.

Another risk that impacts the country’s mining sector is maintaining a license to operate (LTO), which dipped from third rank in 2022 to fourth, heading into 2023.

The report noted that obtain ing and maintaining an LTO is a n “increasingly complex” issue to navigate because miners face “new LTO expectations, includ ing building livable communities a nd forging trusted relationships with Indigenous communities.”

With this, Mitchell said, “It is critical for mining compa nies to go beyond doing what’s m erely required by law. It’s time to commit [to] furthering truth and reconciliation. Ultimately, reframing LTO as a way of cre ating long-term value can have a p ositive impact on the com pany’s brand.”

M eanwhile, the report noted that costs and productivity have moved to fifth spot from 10th in 2022, “as inflation affects cost of mining operations and may potentially delay growth plans.”

Under this category, the report stressed, “how governments deal

with high inflation will signifi cantly impact the sector.” This is a mong the impacts that will be felt by the Philippines, according to Layug.

The report also stressed that aside from energy costs, miners have been facing higher input costs, including those of tyres, explosives and sulphuric acid. Moreover, it noted that higher costs will reduce margins for met al producers and, in some cases, fo rce capacity to be suspended.

In fact, the report divulged that around 1,164kt of capacity is already suspended in Europe.

In TE r n ATI o n A l Monetary Fund Managing Director Kristalina Georgieva speaks on the global economic outlook and key issues to be addressed at the IMF and World Bank annual meetings at Georgetown University in Washington on o c tober

2022.

Photo/J. Scott A PP lewhite

President Victor Andres Manhit.

Asean solons, labor groups: De Lima must be set freeDe Lima held hostage as 3 terror suspects try to escape

Agriculture/Commodities

Metro Manila sugar prices hit fresh all-time high

By Jasper Emmanuel Y. Arcalas @jearcalas

THE retail prices of refined sugar in Metro Manila rose to as much as P134 per ki logram (kg), a new all-time high, as the supply of the sweetener re mains thin.

The latest data from the Sugar Regulatory Administration (SRA) showed that the highest retail price of refined sugar in Metro Manila breached the P130-per-kg level last September 30.

Prior to September 30, the highest retail price of refined sugar in Metro Manila was recorded at P126 per kg.

SRA data showed that the retail price of refined sugar now ranges from a low of P70 per kg to a high of P134 per kg.

The average retail price of re fined sugar, meanwhile, is now at a new record-high of P97.535 per kg, 82.27 percent higher than the average quotation of P53.51 per kg recorded a year ago.

SRA data showed that the 2,177-percent increase in domestic refined sugar production was not enough to prop up the country’s sup

ply of the sweetener.

Total refined sugar supply as of September 25 declined by 11.52 percent to 188,476.85 metric tons (MT) from 213,027.65 MT recorded a year ago.

However, it should be noted that bulk of the refined sugar supply dur ing the period or about 122,079.5 MT were imported stocks for industrial use and not for retail consumption.

Refined sugar output during the period reached 39,105.95 MT from 1,717.10 MT last year.

Nonetheless, SRA data showed that total refined sugar demand de clined by 9.12 percent to 62,190.4 MT from 68,434.45 MT.

The country’s total physical re fined sugar stock, the difference between supply and demand, was at 126,286.45 MT, down by 12.66 percent from last year’s 144,593.2 MT.

Raw sugar production since the start of crop year 2022-2023 rose by 78.26 percent to 106,610 MT from 59,805 MT. Total raw sugar supply as of September 25 stood at 239,959 MT, 23.14 percent lower than last year’s 312,212 MT due to lower carry-over stocks.

SRA data showed that millsite price of raw sugar is now at al

most P75 per kg while its retail value in Metro Manila averaged at P76.155 per kg.

In a report, the United States

Department of Agriculture-Foreign Agricultural Service (USDA-FAS) in Manila projected that the Philip pines will have to import an addi tional 200,000 MT of sugar on top of the 150,000 MT approved by the government due to expectations of a lackluster output.

The USDA-FAS Manila estimated that the country’s raw sugar output this crop year would hit 1.85 million MT (MMT), slightly above last year’s 1.8 MMT.

“The decline is attributed to the recently announced above-normal rainfall expected until February 2023. This coincides with the start of peak milling, when excess water results in lower sugar recovery,” US DA-FAS Manila said.

The USDA-FAS Manila said the Philippines will not export raw sugar for the second straight crop year as the government has prioritized the country’s requirements.

“Post maintains MY 2023 exports to zero, following the recent SO [Sugar Order] No. 1 allocating all pro duction to domestic consumption. In recent years, the United States has been the sole export market for Philippine raw sugar.”

By Jonathan L. Mayuga @jonlmayuga

vows to fast-track World Bank-backed project NIA pushes for triple cropping of rice in irrigated areas

THE Department of Agrarian Reform (DAR) is stepping up the implementation of the World Bank-funded Support to Par celization of Lands for Individual Titling (SPLIT) project.

The agency recently held a 3-day Environmental and Social Assess ment (ESA) and Environmental and Social Management Framework (ESMF) review.

The event was held in compliance with the call of the World Bank (WB) for the DAR to address specific environ mental and social risks and impacts in the massive parcelization of collective certificates of land ownership awards (CCLOAs) for the distribution of indi vidual CCLOAs to the beneficiaries.

The WB made the observations during the Fifth Implementation and Support Mission on March 30. The workshop finalizes the Writeshop output of ESA and ESMF.

The ESA, as well as the Environ mental and Social Commitment Plan (ESCP), provide the guidelines and the instruments to enable the stakeholders, the DAR, and the WB

to identify the legal, environmental, labor, social, and other challenges, and provide solutions during the SPLIT Project implementation.

DAR Secretary Conrado Estrella III disclosed that the updating of the ESA instruments complies with the DAR’s commitment to the loan agreement as provided in the ESCP.

Estrella said improving the secu rity of tenure and strengthening the property rights of agrarian reform ben eficiaries (ARBs) through the subdivi sion of Collective Certificates of Land Ownership Award (CCLOAs) are in line with the pronouncement of President Ferdinand R. Marcos Jr. during his first State of the Nation Address.

Atty. Luis Meinrado C. Pañgu layan, Undersecretary for Policy, Planning, and Research, discussed the policy environment of the SPLIT Project on the second day of the work shop. Undersecretary Pañgulayan said the issuance of the individual title to the ARB will not result in eco nomic empowerment “unless there is the stabilization of agrarian rights, enhancement of land tenure secu rity, and attainment of agricultural productivity and profitability.”

Pañgulayan also discussed the

implementing rules and regulations of the DAR with the Land Registra tion Authority (LRA), the Depart ment of Environment and Natural Resources (DENR), and the National Commission on Indigenous Peoples (NCIP). These are agencies that issue their own titles. The LRA issues the regular titles, the DENR issues tenur ial instruments in the form of free patents and the NCIP issues certifi cates of ancestral domain titles and certificates of ancestral land titles.

The DAR and the LRA have recent ly issued Joint Administrative Order (JAO) No. 2 Series of 2022 to ensure that the Order of Parcelization of the DAR Provincial Agrarian Reform Program Officer (PARPO) under the SPLIT Project is to be treated as part of an involuntary proceeding which will no longer require the surrender of the owner’s duplicate copy.

DAR-DENR JAO No. 9, Series of 2021 ensures that areas of collective CLOAs with timberlands, national parks, mineral lands, and unclassi fied public forests shall not result in the nullification of the CCLOA and the eviction of the ARBs. If the title cannot be parcelized due to techni cal or legal issues. In that case, the

collective title will be retained, and the ARBs will be allowed to continu ously possess the awarded land.

The DAR-NCIP Joint Administra tive Order for the SPLIT Project is a work in progress.

“The experience of the agencies under the Joint National Committee (the NCIP, the DAR, the DENR, and the LRA) as per Joint Memorandum Circular No. 2, Series of 2012 is helpful in crafting the Joint Administrative Order. Issues on vested rights and the delays in the issuance of the certificate of no overlap must be resolved.”

The discussion on the SPLIT poli cy environment was followed by the break-out sessions for the conduct of focus group discussions on environ mental and social safeguards and on the grievance redress mechanisms.

The ESS discussions were led by As sistant Secretary Marjorie P. Ayson.

The GRM-focused group discussion was led by DARAB Executive Direc tor Roland Manalaysay.

The SPLIT Project was formulated by the DAR in pursuance of the direc tive of the president to expedite and complete the parcelization of CCLOA and the issuance of individual titles to the ARBs.

THE National Irrigation Administration (NIA) is urging planters tilling irrigated lands to practice triple cropping of rice to boost the country’s food security.

NIA Administrator Benny D. Antiporda issued this appeal during the Irrigators’ Association Congress in NIA Upper Pampanga River Integrated Irrigation Systems last October 5 at Mavin Event Center, San Leonardo, Nueva Ecija.

“Triple cropping is possible if there is good coordination among NIA, farmers, and other stakeholders,” he said.

He also said the operationalization of Oplan Karding can be fast-tracked in partnership with the Department of Agriculture led by Senior Undersecretary Domingo Panganiban.

“It aims to promote the spirit of bayanihan among NIA officials, local government officials, and farmers on operation

and maintenance activities of irrigation systems, especially, canal clearing, dredging, and desilting operations after the onslaught of Super Typhoon Karding on September 26, 2022.”

The NIA noted that the practice of multiple cropping on irrigation systems can help in alleviating hunger, decreasing overall cost of inputs, and controlling pests, weed growth, and disease infestation.

The Philippines is the world’s second-largest importer of rice.

The United States Department of Agriculture has projected that the country would buy more than 3 million metric tons of rice this year.

The Philippine Statistics Authority pegged the rice selfsufficiency rate (SSR) of the Philippines at 85 percent in 2020.

SSR is the extent to which a country’s supply of commodities is derived from its domestic production or the extent to which a country relies on its own production resources.

months to deliver.

A PARTY-LIST representative called on the House leadership to provide an additional P521million in the budget of the Department of Agriculture (DA) in the General Appropriations Bill to update and digitize the Registry System for Basic Sectors in Agriculture (RSBSA).

In his letter to the Committee on Appropriations, AGRI Partylist Rep. Wilbert T. Lee sought more funding for the targeted activities of the RSBSA such as the complete profiling of farmers and fisherfolks, georeferencing of 846,000 hectares on top of the approved 353,800 hectares, and upgrading of the information and communications technology network.

“It is crucial that farmers and fisherfolks register to the RSBSA so they can access DA’s services.

Sa pag-iikot ko sa mga probinsya, isa ito sa laging reklamo ng mga magsasaka. Kung hindi mali ang datos, ’yung iba, sa tagal man ng hinintay sa ayuda, hindi rin pala makakatanggap dahil wala sila sa listahan o hindi magkapareho

’yung nasa RSBSA sa listahan ng munisipyo,” Lee said in a statement.

“The requested additional amount is needed to complete the integration of other agri-fishery databases, such as the National Coconut Farmers Registry of the Philippine Coconut Authority and the Municipal Fisherfolk Registry of the Bureau of Fisheries and Aquatic Resources.”

During Lee’s interpellation on the proposed 2023 budget of the DA, the agency confirmed that farmers and fisherfolks must be registered to the RSBSA to receive their ayuda from the programs of the DA.

According to him, the requested increase in funding will also be used to fully integrate RSBSA with other national government agencies for data harmonization purposes such as the Philippine Identification System (PhilSys) and the Agrarian Reform Beneficiaries of the Department of Agrarian Reform (DAR).

“Fixing the RSBSA will be essential in ensuring that farmers and fisherfolks even from the most

remote regions of our country get the assistance they need especially during these trying times,” he said.

“Kapag naabot ang mga matagal nang napagkakaitan ng serbisyo, mabibigyan sila ng dahilan para maging produktibo. Tataas ang kanilang kompiyansa, aarangkada ang agrikultura at ekonomiya. Walang maiiwan. Walang dehado. Walang agrabyado. Winner tayong lahat.”

Prior to this, Lee inquired on the need to digitize RSBSA for faster and more accurate encoding of information in the database.

“Sa listahan na ito nakasalalay lahat. So I would really like to work with the DA on this. Ano ’yung plano ng DA tungkol dito? Magkano ang kailangan para mapabilis at mapaganda ang serbisyo nito?” he asked.

“Hindi dapat pinatatagal ang pagsasaayos ng ganito kahalagang mekanismo ng paghahatid ng serbisyo, lalo na sa mga nasa dulo ng ating lipunan. Marami ang patuloy na mapagkakaitan ng mga programang isinusulong mismo ng ating Pangulo para sa agrikultura kung hindi maisasaayos ang RSBSA.”

NOTfar from Berlin’s Tempel hof airport, Peter Engelke is putting up a new security gate at his warehouse because of concerns about desperate people pilfering his stock. The precious asset at risk is firewood.

Engelke’s actions reflect growing anxiety across Europe as the conti nent braces for energy shortfalls, and possibly blackouts, this winter. The apparent sabotage of the Nord Stream gas pipeline is the latest sign of the region’s critical position as Rus sia slashes supplies in the standoff over the war in Ukraine.

At a summit in Prague on Fri day, European Union leaders fell short of agreeing on a price cap for gas amid concerns that any such move could threaten sup plies to the region. As much as 70 percent of European heating comes from natural gas and elec tricity, and with Russian deliver ies drastically reduced, wood— already used by some 40 million people for heating—has become a sought-after commodity.

Prices for wood pellets have nearly doubled to 600 euros a ton in France, and there are signs of panic buying of the world’s most basic fuel. Hungary even went so far as to ban exports of pellets, and Romania capped fire wood prices for six months. Mean while, wood stoves can now take

Aside from concerns about short ages, the energy crisis is intensify ing a surge in living expenses, with euro-zone inflation hitting double digits for the first time ever in Sep tember. Strapped households across the region are increasingly faced with choosing between heating and other essentials.

“It’s back to the old days when people wouldn’t have the whole house heated,” said Nic Snell, managing di rector at British wholesale firewood retailer Certainly Wood. “They’d sit around the fire and use the heat from the stove or open fire and go off to bed. There will be a lot more of that this winter.”

The trend has meant a boom in demand for Gabriel Kakelugnar AB, a manufacturer of high-end tiled stoves costing an average of 86,000 Swedish kronor ($7,700). The stoves can keep a room warm for 24 hours because of its intricate construction using different channels that hold and distribute the heat.

“During the pandemic, people started to invest more in their homes. That has now of course escalated,” said Jesper Svensson, owner and managing director of the company that’s located less than an hour drive from Sweden’s biggest nuclear reactor.

Orders have surged more than

fourfold, and customers now have to wait until March for delivery, compared with as little as four weeks a year ago.

For many Europeans, the key con cern is doing whatever it takes to stay warm in the coming months. The worry has become ever more pressing as the winter chill gets nearer, and the desperation for heat could create health and environmental issues.

“We are worried that people will just burn what they can get their hands on,” said Roger Sedin, head of the air quality unit at the Swedish Environmental Protec tion Agency, warning against poor ventilation and trying to burn wet firewood. “We can see very high pollution levels when you have people burning wood who don’t know how to do it correctly.”

Particulate matter can end up deep in the lungs and cause heart at tacks, strokes and asthma, he said, adding that the risk is particularly acute in urban areas.

“You need to think about your neighbors,” Sedin said.

Inexperience is also evident in Germany, where the country’s association of chimney sweeps is dealing with a flood of requests to connect new and old stoves, and customers are inquiring about burning horse dung and other ob scure fuels.

editorial

There are no ‘innocent bystanders’

Theworld has probably changed much more over the decades than people have changed. Obviously, instant global communication has had something to do with it. We now can know everything that is happening almost in real time.

A quick Internet review of the news gives us “access” to almost everywhere. “Thailand mourns after over 34 die in daycare center attack.” “South Korea, US stage drills with aircraft carrier after North Korean missile launches.” “Soccer fan dies in Argentina, as players forced off due to tear gas.” “Tropical Depression 13 forecast to become hurricane near Caribbean isles.”

And that is just one momentary snapshot on an average afternoon. It is absolutely amazing to almost anyone born in the 20th century to have this wealth of information.

But the reality is that while we have this massive amount of knowledge, our outlook may not be much different than our “non-high tech” parents and relatively “no-tech” grandparents. There are some interesting results that occur if we are looking through the window-on-the-world with the same attitude as previous generations.

Humans compare everything from “this pair of shoes with that pair of shoes” when at the department store. And we also compare “them” with “us” especially now because we are so plugged in.

The rampage killings in Thailand should strike horror and outrage in everyone. We too have had multiple killings under the categories of “Rampage” (7 killed in Victoria, Oriental Mindoro 2000) or “Family murders” (13 killed involving Nieva, Gayte, and Campo families in Buhi, Camarines Sur 1995).

But the pain and suffering is local and seems far away.

The list of Filipino civilians killed in attacks by armed insurgents and those in battles between military and the “rebels” is disgustingly lengthy and yet is hardly noticed and soon forgotten. That is just who we are as humans.

Read some other major stories. “France, the largest egg producer in Europe, is experiencing an egg shortage. Reuters estimates that egg production will decline 8 percent in France, 3 percent in the EU overall, and 4.6 percent in the United States.”

Klaus Mueller, head of Germany’s energy network agency: “We will hardly be able to avoid a gas emergency in winter without at least 20 percent savings in the private, commercial and industrial sectors.”

“Earlier this week, UK’s power regulator said that a ‘significant risk’ of a NatGas shortage could materialize this winter and cause power blackouts. There is a significant risk that gas shortages could occur during the winter 2022/23 in Great Britain [‘GB’].”

We know that ultimately, on these 7,000 rocks in the middle of the ocean, we are and will continue to be affected by these situations. But there is also the thought that “we are the innocent bystanders who can’t do anything about it.” Is that accurate?

“Globalization is the process of interaction and integration among people, companies, and governments worldwide. The term is used to describe the unprecedented international connectivity of the post-Cold War world.” No person, nation, or region is an island anymore.

The Covid lockdowns pushed that reality as the fashion industry, for example, is moving more and more to virtual runway shows. But all the drama of globalization is creating a pushback, being called “global fracturing.”

Capital Economics and other think tanks are taking this seriously. Capital writes as an introduction to a symposium, “US-China decoupling. The Covid-19 pandemic. The war in Ukraine—a series of era-defining shocks is reshaping the global economic order, overturning the assumptions which have underpinned the drive towards further integration.”

There will be no innocent bystanders as the world moves from the integration we have come to expect. The challenges for government and the private sector and for each of us will be enormous.

Simple living for all

Atty. Jose Ferdinand M. Rojas II

RISING SUN

August, our inflation rate was at 6.3%, which spiked to 6.9% in September. The year’s average is now projected at 5.1%. The prices of food, basic items, and utilities have gone up remarkably. The exchange rate of our currency against the dollar is almost P59 as of this writing. Gas prices are up, which led to an increase in PUV fares and transport costs. The forecast for the rest of the year does not seem positive as economic experts expect the inflation rate to remain elevated through the holidays.

IN

National Economic and Development Authority Undersecretary Rosemarie Edillon said that it is important to lower the demand and increase the production of goods. This means more Filipinos have to learn to live more simply, especially during the Christmas season when people are expected to buy more or spend more. We are used to lavish celebrations and expensive purchases, at least for those who have regular salaries and bonuses. More Filipinos

need to tone it down a bit this year. It is also true that there are more Pinoys who are having a hard time making ends meet. The rate of unemployment is up and the economic effects of the Russia-Ukraine crisis are being felt in many areas of our lives. Many families simply don’t have the purchasing power or the money needed to buy holiday food to celebrate Christmas “simply.” For them, it is a daily struggle to put food on the table, holiday season or not.

National Economic and Development Authority Undersecretary Rosemarie Edillon said that it is important to lower the demand and increase the production of goods. This means more Filipinos have to learn to live more simply, especially during the Christmas season when people are expected to buy more or spend more. We are used to lavish celebrations and expensive purchases, at least for those who have regular salaries and bonuses. More Filipinos need to tone it down a bit this year.

The government needs to recognize this and come up with programs to mitigate the impact of both internal and external pressures—fast. It’s time for the government’s “best and brightest” to put their heads together to address the issue of inflation, among all the other problems plaguing our country today. n n n

IF you haven’t been to Shambala Silang in Cavite, it’s the perfect time

to visit. “Paglalayag: Mula Mindanao Patungong Luzon,” an art exhibit featuring the works of artists from Mindanao, headlined by Kublai Milan, is running until November 19 in Tawid Gallery. The show also features the works of the following artists: Victor Dumaguing, Jeff Bangot, Jag Bueno, Lucas Rañola, Lizlee Enimido, Kristine Gaid, Anoy Catague, Jong Tangiday, Tanya Gaisano, Aiza Solijon, Michael Salcedo, Pinta de Baryo, Elvis Goloran, Reden Paa, Jamedith Abuan, Rey Ursabia, Xyla Sumalinog, Jeya Que, James Santia, John Paul Senangote, Reymark Felipe, Gevy Camacho, Marfenie Valdez, and Rene Milan.

Shambala Silang is located in Purok 5, Pulong Bunga, Silang, Cavite. It’s a refreshing destination that offers al fresco dining. Tawid Gallery inside Shambala Silang is a living museum and art gallery that features Filipino and indigenous art. You’ll enjoy the cool weather, lush gardens, authentic Ifugao huts, dap-ay and amphitheater, and more. The place itself is a work of art. To schedule a visit, send them a message via their Facebook page (Shambala Silang).

Truss faces new perils as restless MPs return to Westminster

By Ellen Milligan & Joe Mayes Bloomberg Opinion

The return of Parliament this week is fraught with danger for UK Prime Minister Liz Truss.

In her first month in office, the 47-year-old premier managed to roil the financial markets, alienate a swath of her lawmakers and sink the Conservative Party in the polls with the biggest set of unfunded tax cuts in half a century.

Since the House of Commons last sat, chasms have opened up over the economic direction Truss and Chancellor of the Exchequer Kwasi Kwarteng are pursuing, and backbenchers smell blood. After forcing the government into a U-turn over its signature tax cut for the highest earners, Tory lawmakers are preparing to challenge their leader over plans to cut welfare benefits, ease planning rules and ramp up borrowing.

“When MPs are on recess there’s more of a limit to plotting but when they return to Westminster they’ll all be in the same place,” said Alice Lilly, senior researcher at the Institute for Government. “That’s going to be more tricky.”

Truss’s missteps mean that despite boasting a 70-odd majority, she finds herself in similar position to Theresa May—whose backbenchers frequently held her 2017-2019 minority government to ransom. The current dissent threatens to

stymie the premier’s plan to go for growth through a massive program of deregulation and tax cuts.

At last week’s Tory Party conference, former cabinet ministers Michael Gove and Grant Shapps sounded out restless lawmakers. Members of Truss’s cabinet expressed dismay when she backtracked on scrapping the 45 percent rate of income tax, and other ministers advocated raising benefits in line with inflation—just as the premier suggested she may cut them in real terms.

But it’s on the backbenches that the greatest danger lies, populated as they are by dozens of former ministers, many of them with an ax to grind after being sacked by Truss and most of whom voted against her in this summer’s leadership contest. One MP said backbenchers are angrier, more determined and more organized than at any point in recent years.

A former minister told Bloomberg they’d witnessed colleagues sub-

At last week’s Tory Party conference, former cabinet ministers Michael Gove and Grant Shapps sounded out restless lawmakers. Members of Truss’s cabinet expressed dismay when she backtracked on scrapping the 45 percent rate of income tax, and other ministers advocated raising benefits in line with inflation— just as the premier suggested she may cut them in real terms.

mitting letters of no confidence in Truss to the office of Graham Brady, chair of the 1922 Committee, which oversees leadership elections. They predicted junior ministers will start resigning within weeks. Another MP said they planned to submit their own letter, while two others said they hoped the “men in gray suits”—senior party figures such as Brady—would hold a papal-style conclave to pick a unifying candidate to replace Truss.

Brewing rows

LI VE to the unrest, the premier held one-to-one conversations with Tory MPs during the conference. Sitting opposite them on a sofa in her hotel suite, she tried to reassure them they hadn’t been forgotten and asked how

she could earn their support. One MP said she was calm but unilluminating and hadn’t convinced them she would get a grip of the nation’s finances.

Getting her MPs onside is crucial for Truss to advance her agenda. The most controversial bits of Kwarteng’s package won’t go to a vote straight away, giving them time to win support. But further rows are brewing. Truss wants to ease planning rules to encourage construction in designated investment zones. But that’ll face opposition from rural Tory MPs, who stymied planning reforms attempted by her predecessor, Boris Johnson.

And in coming weeks, the government must decide whether to raise benefits in line with inflation or with wages. Truss has indicated she favors the latter. But at conference, ministers Penny Mordaunt, Robert Buckland and Steve Baker all suggested social security should keep pace with inflation.

Truss “almost needs to start to think about operating as though she is a prime minister with a minority government,” the IFG’s Lilly said.

The most memorable moment of the conference was Kwarteng’s reversal of the tax cut for top earners after he and Truss spent days defending it. While some MPs felt Truss’s conference speech on Wednesday was

Frustrated aspirations

Joel L. Tan-Torres

DEBIT CREDIT

Opinion

‘Two’ much

Siegfred Bueno Mison, Esq.

THE PATRIOT

ON

October 11, 2022, I step down as dean of the University of the Philippines Diliman Virata School of Business (UP VSB).

I have completed my three-year term after having been appointed by the UP Board of Regents (BOR) in October 2019 as the 14th dean since the establishment of the College in 1916.

During the search process that preceded the selection of the dean, I was able to present my vision for the UP VSB. It was encapsulated in a manuscript that I prepared entitled “Looking In Reaching Out,” or LIRO. The LIRO program that I formulated was directed to look into and tap the various resources and goodwill of the UP VSB to perpetuate its many successes in the past.

In the process, LIRO also would be outward-looking and reach out to address the many requirements of the various stakeholders of the school. My thought then was that the UP VSB should be able to service the academic and other demands of both its internal stakeholders and the external community. As indicated in the LIRO vision and plans for the UP VSB that I submitted during the dean selection process, the College should be able to make an impact for the benefit of its various constituent, including the students, faculty, staff, alumni, extended publics and the country as a whole. The LIRO program contained at least 10 major plans with 60 action points.

Unfortunately, I was frustrated and challenged in implementing these aspirations to the fullest.

Throughout my three-year term as dean, I encountered hurdles and opposition from people who should have been my partners in pursuing these LIRO initiatives for the good of the UP VSB. Surprisingly, these “oppositors” came from the

UP VSB academic teaching ranks and were aided by key University of the Philippines senior administrators.

I got to know in the early part of my deanship that a number of the UP VSB faculty had lobbied against my selection as dean. Even before the BOR released its decision on the next dean of the UP VSB in October 2019, these opposing faculty met UP Diliman Chancellor Michael Tan to express their concern about the possibility of my being selected as the next dean of the UP VSB by the BOR. Instead of maintaining his impartiality in the selection process, Chancellor Tan intervened in the BOR selection process with his submission to the BOR of his preferences for the next dean. This evidently did not include me as gathered from his letter of October 10, 2019, addressed to the BOR.

A very frustrating start for my deanship in the UP VSB.

To be continued.

Joel L. Tan-Torres is the Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the chairman of the Professional Regulatory Board of Accountancy, and partner of Reyes Tacandong & Co. and the SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who garnered No. 1 in the CPA Board Examination of May 1979.

This column accepts articles from the business and academic community for consideration for publication. Articles not exceeding 600 words can be e-mailed to jltantorres@up.edu.ph.

Iam

not an expert in election law and am vaguely familiar with the rules of procedure involving the Commission on Elections.

Expertise, however, is not the sole yardstick for developing a worthwhile opinion since one’s analytical abilities may be useful. Incidentally, my humble practice in the legal profession has generated many a lesson beyond attaining proficiency in the law, such that even the simplest act of being patient with details can prove to be more critical. When a controversy is drenched with factual circumstances, subject to different interpretations, resolving it would certainly require more than a strict implementation of the wordings of the law. Otherwise stated, a holistic approach is sometimes called for.

The Comelec’s latest ruling on the disqualification case of a sitting governor in Region 5 leads us to compare such decision with the poll body’s junking of the petition to cancel the certificate of candidacy (COC) of then presidential candidate Ferdinand “Bongbong” Marcos Jr. (BBM).

The ground alleged in said petition focused on the automatic penalty of disqualification from holding public office pursuant to Section 252-C of the tax code, under which Marcos Jr. was convicted of four counts in 1997 (for failing to file his Income Tax Return from 1982-1985). In his COC, Marcos Jr. ticked “NO” under Item No. 22—a question of whether he has been found liable for an offense that carries with it the accessory penalty of perpetual disqualification to hold public office which has become final and executory. Following Comelec’s Rule 23, the exclusive ground for a petition to cancel COC is “any material representation contained therein as required by law is false.”

Some legal experts consider Marcos Jr.’s denial in Item No. 22 as false material representation, sufficient to an unmistakable ground for the cancellation of his COC. However, Comelec did not agree, to which I will no longer dispute.

A few months after such ruling, a

Comelec Division, composed of different commissioners, disqualified Governor X for violating the 45-day spending ban following a regular election. The election offense pertains to the cash assistance payout for tricycle drivers and senior citizens undertaken in March and April 2022 by Gov X when he was still an incumbent city mayor. Plainly, the cash aid was regarded as a violation of Section 261 of the Omnibus Election Code. Not that this may still matter, considering that the said issue involving President BBM is now moot and academic, but this recent ruling strikes straight on the wisdom of the Comelec in resolving these disqualification and nullification cases.

If Gov X’s purported violation of the Omnibus Election Code was seen as such— direct and unmistakable, then Marcos Jr.’s misrepresentation in his COC, allegedly falling within the coverage of Comelec’s Rule 23, should also be treated the same way—a direct and unmistakable violation. Nonetheless, our poll body opted to take a different route with President BBM, citing a justification woven throughout the woof and warp of the political fabric vis-à-vis the tax code of 1977 (not the new tax code which took effect in 1986). Since Comelec utilized certain factual circumstances avail-

ing in PBBM’s case to absolve him from the COC nullification charge, the poll body could have employed the same mechanism of considering circumstantial evidence in resolving Gov X’s DQ case. Apparently, there may be a double standard here. It is not even amusing.

Based on what I know, Gov X was disqualified since he participated in the distribution of cash assistance to the seniors and tricycle drivers. Such program was reported to be pursuant to the city’s program that was approved by the Sanggunian in 2020. The local government unit has since been implementing the cash assistance program even in 2021. Governor X did not wish for the execution of his cash payout to be affected just because 2022 was an election year. These pertinent circumstances, explanatory and justifying at best, should have been considered by the Comelec.

Parenthetically, then provincial official BBM, who failed to file his ITRs for four consecutive years, and convicted accordingly, is supposedly covered by the 1977 tax code whose provisions, per the Comelec, were vague as to perpetual disqualification to hold public office (this is not really so, as the Courts of justice issued the conviction carrying the accessory penalty of perpetual DQ). According to the poll body, when Marcos Jr. replied NO to Item No. 22 in his COC, “he did so without any intention to mislead, misinform, or hide a fact, which would otherwise render him ineligible. X x x he honestly thought or believed that he has never been disqualified from holding public office.” And so the Comelec was pliable in deciding the case in favor of BBM but was rigid when it ruled against the governor.

If PBBM’s “good intention” and “honest belief” were considered by Comelec, then the same “good intention” and “honest belief” on the part of Gov X should be considered as well. After all, Gov X was only implementing the regular cash assistance program, pursuant to a social welfare course approved by the local legisla-

ture. Double standard in the application of “good intention” and “honest belief” can be gleaned in the case of Gov X compared to PBBM. There may be a plethora of other cases before the Comelec where we see a patent application of double standard – applying different sets of principles for similarly situated issues. A friend of mine refers to this double standard as way “two” much—double the injury, double the infamy.

Double standards are continuously practiced yet remain largely unpunished. Either our laws are deficient in this area, or our morals have forsaken us altogether. I am anxious that the day may have come that we have all but forgotten the Scriptural statement that “The LORD detests double standards; he is not pleased by dishonest scales.” (Proverbs 20:23) And it does not denote merely to fraudulent weighing scales in the market, but to the mendacious behavior that a person exhibits in favoring one over another despite the similarity in their situations. Such a conduct is reflective of instability, as buttressed in the Bible—“A doubleminded man is unstable in all his ways.” (James 1:8) Again, it takes just a bit of patience in details and ability to analyze (not even expertise) in finding such instability in the way our poll body has generated using double standards. I refuse to believe that Comelec, riddled as it is with far too many duties all year-round, may have been too busy to winnow the chaff from the grain. By way of these two decisions affecting BBM and Gov. X, Comelec has just hoisted its own petard. Sadly, the Filipino people are constrained to endure the ruins.

A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission.

For questions and comments, please e-mail me at sbmison@gmail.com.

enough to sway the naysayers back onside, others said she merely articulated her libertarian narrative without addressing the elephant in the room: how she’ll fund her program.

Polling plunge

KwA RTENG says he aims to publish a medium-term fiscal plan alongside economic forecasts from the Office for Budget Responsibility on November 23. But he may be forced to do so earlier amid Tory concern that market uncertainty is pushing up interest rates and—crucially— the mortgage rates of voters. The Tory chairman of the Treasury Select Committee, Mel Stride, says it’s needed before Nov. 3, when the BOE’s next rates decision is due.

Parliament’s return Tuesday sees Kwarteng host Treasury questions. Then on wednesday, he’ll address rebel-minded colleagues in the oakpaneled room of the 1922 committee in a fresh bid to calm nerves.

Dire polling has piled on the pressure, with the opposition Labour Party holding leads of over 20 points in several recent surveys. That’s left Tories on majorities of less than 12,000 increasingly frantic about the need to win back support, one MP said. Truss must call a general election by January 2025 at the latest.

For now, backbenchers don’t have a grand plan—dissent is largely uncoordinated and scattered around different factions of the party. Moreover, Truss’s leadership rival Rishi Sunak—who warned during the contest of the market unrest her plans could unleash—has stayed silent.

In theory, the premier is safe from a leadership challenge for her first year in office. But in practice, Johnson and May both enjoyed the same period of immunity after surviving leadership challenges—and were forced out sooner.

sian landing to liberate city of Odessa.

EU rep using ‘creative accounting’ on Ukrainian grains issue–Russia MAIL

obliged to comment on the article by Dr. Ana Isabel Sanchez Ruiz, Deputy Head, Delegation of the European Union to the Philippines, dated September 30, 2022. we observe obvious attempts by the representative of the EU to use “creative accounting” in humanitarian issues in order to retouch the picture, apparently hoping that no one wants to go into details.

IFEEL

1. The representative of the EU in the Philippines shamelessly accuses Russia of mining the Black Sea ports, while the Ukrainian side in fact has long admitted its responsibility for blocking them. And it refused the call for mine clearance, formally referring to the possibility of a threat of a Rus-

2. Ms. Ruiz repeats another fake, long since debunked by both the Russian and Ukrainian sides. She claims that Russia broke the Istanbul grain deal “less than 24 hours after signing it by launching an air attack on the port of Odessa.” I would like to remind her that in the seaport of Odessa, the attack from the Russian side hit the territory of a shipyard, a Ukrainian warship that was in the dock, and a warehouse of Harpoon anti-ship missiles supplied by the United States. The granaries were not damaged, as confirmed in a statement by the head of the press center of the defense forces of southern Ukraine, Natalia Gumenyuk. Speculation that the strike was aimed at granaries was meant to blame Russia for the disruption of the Istanbul agreement signed the day before, and to achieve maximum informational effect in the general context of antiRussian counter-propaganda.

3. Ms. Ruiz credits the EU with the implementation of agreements on the export of grain from Ukrainian ports. But where is the Ukrainian grain really going?

Her article lacks official statistics.

Not all recipients of Ukrainian grain in Asia, Africa and the Middle East are among the most vulnerable in terms of food security and receive assistance from the UN world Food Programme. According to the data of the Joint Coordinating Center (JCC), as of September 21 this year, only 5 out of 185 ships loaded with Ukrainian grain and other food products went to the most needy, according to the UN classification, sub-Saharan Africa (Djibouti—where it exported by land transport to Ethiopia and other countries of the Horn of Africa—Kenya, Somalia and Sudan). Another 3 went to countries prone to food insecurity in the Middle East and Asia (Yemen and Bangladesh). The “grain deal” was conceived precisely in the interests of these countries, and not the European Union. No matter what the EU leaders say, you can’t fool the statistics. According to the JCC, as of September 21 this year, 93 out of the 185 mentioned vessels headed for the European Union (https://un.org/en/ black-sea-grain-initiative/vessel-movements). The EU accounts for about 40 percent of the total supply. So, whatever you think, it is the European

Union, and not the poorest countries in the world, that is the largest beneficiary of the deal on the export of Ukrainian grain. The EU leadership, before starting to mislead the world community, should have checked the numbers more carefully.

The basis of supplies from Ukraine is by no means wheat, which the EU was going to “feed the whole world,” but fodder varieties of corn and soybeans, on the import of which the EU livestock industry largely depends.

As for the 10 million tons of Ukrainian food exported to the EU by land in the framework of the EU initiative “Solidarity Lanes,” this is still the case—it is not clear where and in what quantity it ended up. The European Union shyly avoids disclosing relevant data.

4. The EU itself, with its ill-conceived energy policy and unilateral sanctions against Russia and Belarus, provoked a global shortage of fertilizers. In Brussels, with the aim of limiting export earnings to the Russian budget, they did not bother to consider that the Russian Federation ranks first in the world in the export of nitrogen fertilizers, second in potash and third in phos-

phorus fertilizers.

Russian fertilizer supplies turned out to be significantly complicated by the problems with payment created by the EU sanctions (including due to targeted restrictions and disconnection of leading Russian banks from Sw IFT) and logistics. This is aggravated by “overcompliance” of European economic operators. Business fears administrative and even criminal prosecution for violations of the sanctions regime.

Serious restrictions on the supply of Russian fertilizers to third countries created targeted (“personal”) EU sanctions against shareholders and management of Russian producers and exporters of these products.

As a result of this, about 300,000 tons of fertilizers got stuck in the ports of EU member states, which Russia is ready to transfer free of charge to developing countries in dire need of this product. But even this goodwill initiative is blocked by the collective west.

Fed officials won’t relent on path to 4.5% and may move higher

By Craig Torres & Rich Miller Bloomberg Opinion

THE Federal Reserve is closing ranks around a goal of quickly raising their benchmark interest rate to around 4.5 percent then holding it there, while being prepared to go higher if elevated inflation fails to show signs of easing.

The aim, which is widely shared among the US central bank’s 19 policymakers, suggests they are on course to deliver a fourth straight

75-basis-point rate increase next month. The impact on energy prices of Opec oil production cuts and a strong September jobs report bolster the case, which could get a further boost from fresh inflation data on October 13.

“ we look to me, according to our reports, headed for 4.5 percent to 4.75 percent by sometime next year,” Chicago Federal Reserve Bank President Charles Evans, traditionally one of the central bank’s more dovish members, told business leaders on

Oct. 6. The Fed’s current target range for its benchmark rate is 3 percent to 3.25 percent.

The Fed’s strategy is sensitive to data, but officials have made plain that it would take a lot to push them off the path to 4.5 percent: Policymaker after policymaker pushed back during the week against investor bets that recession risks or even financial market volatility could deter them.

“Until we see any signs of inflation beginning to moderate, I don’t

know how we pause,” Fed Governor Christopher wa ller said at the University of Kentucky on October 6.

w hile there is optimism that the case for less inflation is starting to emerge, there is also a sense that this a war the Fed can’t lose—even at the risk of a downturn in the economy.

Officials’ September forecasts show six who expect the rates to move to a 4.75 percent to 5 percent range next year, a view that will likely gain traction if price pressures don’t relent as hoped.

A growing concern has been the persistence of underlying inflation pressures, mentioned by Governor Lisa Cook, wa ller and Evans, and New York Fed President John wi lliams.

“Reports over the past few months have shown high inflation to be stubbornly persistent,” Cook said in her first speech as a governor. “I have revised up my assessment of the persistence of high inflation,” she said, adding that it supported her votes to front-load policy.

Nina Prakapovich Press-Attaché Embassy of the Russian Federation in the Philippines

GEOPOLITICAL UNCERTAINTY, RISING COSTS TOP MINING RISKS

THE Philippine mining sector is “greatly im pacted” by geopolitical uncertainty, among other top risks, according to the Mining and Minerals Industry Sector Leader of SGV.

Among the top 10 risks and opportunities identified in the report, the mining sector in the Philippines is greatly im pacted by geopolitical uncer tainty, maintaining a license to operate due to anti-mining sentiments, and rising costs and productivity challenges,” Eleanor A. Layug, SGV Mining and Minerals Industry Sector Leader said in a statement on Friday.

“ On the other hand, the increasing focus on environ mental, social and governance, the disruption brought about by digital transformation, and the advent of new business models provide mining play ers the opportunity to futureproof their businesses,” Layug added.

For his part, Paul Mitchell, EY Global Mining & Metals Leader said, “Managing ESG risk is becoming more complex. Miners who get it right can get an edge on competitors in many ways—from accessing capital, to securing a license to operate,

attracting talent, and mitigat ing climate risk.”

A ccording to the report re leased by Ernst & Young Global Limited, on the Top 10 busi ness risks and opportunities for mining and metals in 2023, geopolitics climbed two notches in 2022 to second rank from fourth, heading into an “uncer tain” 2023.

T he report noted that “The war in Ukraine has had an im pact on the trade of minerals and metals, while increasing competition between China and the US, and newly elected governments in key mining markets, are affecting the longterm plans of miners.”

H ence, the report recom mended that as miners consider strategic decisions, “they should assess the implications of sev eral geopolitical trends.”

I n fact, the EY business risks and opportunities survey 2023 showed that 72 percent of the respondents believe the cur rent geopolitical uncertainty will result in a  rise in resource nationalism (in the form of taxes and royalties; national ization; mandated beneficia tion) while 64 percent said the uncertainty will lead to rising operating costs.

De Lima held hostage as 3 terror suspects try to escape

By Samuel P. Medenilla @sam_medenilla

PRESIDENT Ferdinand

“Bongbong” R.

Marcos Jr. said he will allow the transfer of former Senator Leila M. de Lima to another detention facility after she was held hostage in Camp Crame on Sunday morning. However, Interior Secretary Benhur Abalos said later on Sunday that when he visited her to check on her condition, the former senator opted to stay at the same detention site.

D e Lima together with Police Corporal Roger Agustin were taken as hostage at the Philippine Nation al Police (PNP) Custodial Center by three detainees—Arnel Cabintoy, Idang Susukan, and Feliciano Su layao—who attempted to escape the facility.

Following this morning’s [Oct. 9] incident at Camp Crame, I will be speaking to Senator De Lima to check on her condition and to ask if she wishes to be transferred to another detention center,” Marcos said in his Twitter account.

A gustin was brought to a hospital for treatment, after being stabbed by the hostage takers, while de Lima

was unhurt from the ordeal.

A police report said that at around 6:20 a.m. while break fast was being distributed to the detainees inside the facility, the three grabbed Corporal Agustin and stabbed him in the head and body.

PNP Public Information Office

Chief Brig. Gen. Roderick Alba said members of the Special Ac tion Force immediately responded to the incident. Patrolman Lorenz Matias shot the three.

C abintoy and Susukan were killed on the spot while Sulayao ran toward the maximum com pound’s building and, reaching

the cell of de Lima, tried to hold her hostage.

A lba said the tactical team negotiated with Sulayao, but to no avail. Since the situation was escalating, they engaged Sulayao and he was neutralized, ending the escape attempt at 7:18 a.m.

Susukan, an Abu Sayyaf leader

involved in the abduction of for eigners in Mindanao and other crimes, was arrested in Davao on August 13, 2020.

C abintoy and Sulayao were al leged members of Dawlah Islamiya terrorist group under Hatib Hajan Sawadjaan, who were arrested in Quezon City in 2019.

Learn from lessons in Duterte infra program, experts urge Marcos Asean solons, labor groups: De Lima must be set free

By Rizal Raoul S. Reyes @brownindio

EXPERTS from the academe and private sector have ex horted  the administration of President Ferdinand R. Marcos Jr.  to learn from the lessons of the Duterte administration’s Build, Build, Build program, and ensure a more consumer-friendly and trans parent infrastructure program.

I n his presentation,  Professor Edwin Santiago, Stratbase ADRi Non-resident Fellow and De La Salle University Department of Political Science Assistant Professor, urged the Marcos Jr. administration to learn the lessons from China-fund ed infrastructure projects under the Duterte government and called on the new administration to en sure transparency and accountabil ity in its infrastructure program.

Santiago discussed in his presen tation the issues surrounding the Chico River Pump Irrigation Project and the Kaliwa Dam Project. These include environmental degrada tion, defective consultation pro cess, questionable selection of con tractors, disadvantageous interest rates, onerous contract provisions, and the lack of transparency.

While infrastructure is impor tant, it should not be infrastructure at all cost, or at any cost. We must hold our leaders accountable be cause we have seen so many times how a particular need is abused so many people can get away with a lot of things. If there is water shortage, does that mean that just to address the water shortage, we will allow the government to do whatever it wants even with certain unsavory parts of the deal? I don’t think we should allow that,” he explained in a recent virtual roundtable discus sion organized by the Stratbase Al bert del Rosario Institute (ADRi) in partnership with consumer advoca cy group CitizenWatch Philippines. The forum tackled the experts’ as sessments on the Duterte admin istration’s infrastructure program and their recommendations for the

current Marcos administration.

“ It is very clear that the issues are the same and recurring in these projects. Most glaring is the trade mark lack of transparency that strongly suggests irregularities. It has been argued that there is no need for confidentiality if every thing is above board,” Santiago argued.

He also underscored the impor tance of getting the consensus of stakeholders  in the planning and development of the government’s infrastructure program.

“ There is geo-location bias in the Build, Build, Build from the on-set.

Completed projects are located in the National Capital Region. An other adage comes into mind here: Those who have less in life should have more in law. In the case of the BBB, however, considering the poverty map in the country, those who have less in life, have also less in BBB budget and project alloca tion. Isn’t that ironic?” he added.

I n his presentation, University of the Philippines-Virata School of Business Professor Emeritus Dr. Epictetus Patalinghug listed the challenges the previous ad ministration faced that led to the inefficient implementation of the Duterte administration’s Build, Build, Build (BBB) program. He is also Stratbase ADRi Trustee and Program Convenor.

T he Duterte administration’s medium-term goal was to increase infrastructure spending from 5.4 percent of the gross domestic prod uct (GDP)  in 2017 to 7.3 percent in 2022. However, in 2019, the gov ernment announced the shift to a hundred less ambitious and more doable projects. From 2017-2021, the government spent only about P4.98 trillion or about 5.5 percent of the country’s GDP for infra structure projects. As of October 31, 2021, only eight projects worth P94.64 billion were completed and 77 projects worth P3.5 trillion were ongoing. Of these, 30 were still in preconstruction activities.

FORMER senator Leila de Lima does not belong in jail, Asean parliamentarians and local labor groups said in separate statement on Sunday, hours after one of three men trying to escape from a police custodial center held her hostage. See main story above.

“

The hostage ordeal suffered by former Senator Leila de Lima this morning at the Philippine Police Custodial Center, is a stark remind er of the risk and indignities that de Lima has been subjected to since she was unjustly detained in 2017.

Fortunately, the former Senator was spared after the Police ‘neu tralized’ the attackers, three men jailed for terrorism, but the outcome could have been very grim. It is a relief that the former senator was unharmed, but putting her at such risk is unacceptable,” said a state ment by the Asean Parliamentar ians for Human Rights.

Make no mistake about it: For mer Senator Leila de Lima does not belong in jail, surrounded by criminals and terrorists. We reiterate our stand that charges against her were clearly fabricat ed, as it has been shown recently by the recantations of three key witnesses. De Lima was jailed for just one reason: for daring to ini tiate a Senate investigation on the criminal war on drugs launched by former President Rodrigo Duterte in what amounts to an act of per sonal vendetta by Duterte that bears no resemblance whatsoever to justice.”

T he APHR said the incident “should serve to prompt the new government, led by Ferdinand Marcos Jr., to do the only right and sensible thing it can do regard ing the case of de Lima: to drop all fabricated charges against her and release her unconditionally and im mediately.”  The Philippine Justice department has repeatedly assert ed, however, that as the cases are now in court, the Executive must respect the process, as a separate branch of government.

IN this photo provided by the Department of the Interior and Local Government, Secretary Benhur Abalos visits former senator Leila de Lima at her custodial cell at the PNP facility in Camp Crame. Abalos said he conveyed to her the instruction of President Marcos to move her to another cell to ensure her safety, if she so wishes, but, Abalos said, de Lima opted to stay in her current cell. CONTRIBUTED PHOTO

Meralco: Weaker peso puts pressure on generation cost

Power

By Lenie Lectura @llectura

much reduced use of expensive alternative fuel by First gas, may offset the effects of the peso’s depreciation and higher W eSm charges.

t he utility firm will announce monday the final figures for october power rates.

a ccording to meralco head of corporate communications Joe Zaldarriaga, Wholesale electricity Spot market (W eSm) rates and the depreciation of the peso have contributed to the rising cost of generation charge, a major component of an electric bill.

“ t he persistently high W e Sm prices in September supply month and Peso depreciation, which affects costs of IPPs (Independent Power Producers) and PSa s (Power Supply

a g reements), are expected to put an upward pressure on the generation charge in the october bills,” he said. However, the implementation of lower FI t a ll starting this month may help offset any increase in the generation charge, added Zaldarriaga.

meralco will begin implementing the erC-ordered 6.19 centavos per kilowatt hour (kWh) reduction in the FI t a ll beginning this october bills. t he lower FI t a l l , along with a

l a st month, overall electricity rates rose to P9.9365 per kWh from P9.5458 per kWh in a u gust. t he P0.3907 per kWh rate increase was equivalent to around P78 in this month’s power bills for residential customers consuming 200 kWh a month.

m e ralco said last month that the ongoing m a lampaya gas supply restriction necessitated the increased use of more expensive alternative fuel by First g a s Sta. r i ta and San l o renzo to ensure continuous supply. t h e depreciation of the peso also pushed up charges from the independent power producers (IPPs) and the

power supply agreements (PS a s) since 98 percent of total IPP costs and 36 percent of PS a costs are dollar-denominated.

t he continued rise in international coal prices also contributed to the PSa rate increase.

In July, the utility firm reported that its consolidated core net income in the first half rose by 15 percent to P13.1 billion from P11.4 billion in the same period last year on the back of strong energy sales and earnings from the power generation business.

Consolidated reported net income, meanwhile, improved 32 percent to P13.1 billion from P9.9 billion with the adjustments made last year in relation to the passing into law of the Corporate recovery and ta x Incentives for enterprises act, and recognition of foreign exchange gains this year versus foreign exchange losses in 2021.

SMC still keen on power auctions

Conglomerate San miguel Corp. (SmC) said it would still participate in future power supply auctions despite the unfavorable ruling from the regulators released last week.

of course, lahat naman ng government bid sinasalihan natin,” said SmC President r amon S. a ng.

He said the power units of SmC would still consider offering a fixed price for power supply deals for as long as the rules are crafted and approved by the Department of ene rgy (D oe). “Sasali kami lagi pero based sa conditions at t or ( te rms

of r e ference) ng D oe

t he rules of the Competitive Selection Process (CSP) are crafted and promulgated by the Doe I n its advisory, the D oe said the CSP policy aims to promote the needs of the consumers as presented in the Distribution Development Plan and Power Supply Procurement Plans of the distribution utilities (DUs). t he DU will embrace the principle of technology neutrality and consider the reliability of energy services in a least cost manner. t he DU will also ensure that it can meet the demand for its

captive market at any given time.

a ng said the fixed price offer in the 2019 power supply agreements (PS a s) of South Premiere Power Corp. (SPPC) and San miguel energy Corp. (SmeC) with the manila electric Co. (meralco) was not the company’s idea or proposal.

“Hinde naman sa amin nanggaling ‘yun, sa Doe galing. Hinde kami ang gumawa ng rules.”

t he erC denied last September 29 the joint plea of SmC ’s units and meralco to adjust their previously approved power rates by P0.30 per kilowatt hour (kWh) over a period of six

months. Since their application for a temporary relief was denied, SmC is poised to terminate the PSa s with meralco after 60 days from receipt of the erC order.

once the termination of the PSa s takes effect, SPPC and SmeC will sell its power in the Wholesale electricity Spot market (W eSm) and enter into bilateral contracts with other offtakers, pricing of which will be market-based.

W e Sm prices, however, could be more expensive than the rates that SmC and meralco cited in their joint plea. Lenie Lectura

Dito made false claims–PLDT

TelCo titan PlDt Inc. on Sunday accused rival Dito telecommunity Corp. of resorting to “squid tactics to mislead the public” about its alleged unpaid obligation amounting to P430 million.

In a statement, the Pangilinanled telco said Dito, controlled by businessman Dennis a Uy of Davao, clarified that it was Dito that requested PlDt the construction of transmission facilities, which the third player would then lease.

“PlDt had no duty to do so and could have refused if it wanted to reduce competition. But PlDt agreed to build and lease the transmission facilities to Dito, while also providing interconnection services to benefit both Dito’s and PlDt ’s own subscribers,” PlDt said.

r

esponding to a disclosure to the stock exchange on Friday, Dito claimed it was “compelled to enter into an agreement with PlDt for the provisioning of the transmission facilities to allow Dito to interconnect with the subscribers of PlDt ’ s affiliate/subsidiary, Smart Communications Inc. for the purpose of supporting the parties’ obligations under their Interconnection a g reement.”

PlDt said these claims are “misleading.”

“P l D t built, delivered, and leased the transmission facilities for Dito on schedule, while Dito repeatedly delayed in paying P l D t the contracted milestone payments for the facilities in the hundreds of millions of pesos,”

P l D t said.

Dito still has P430 million to pay for the said facilities.

“Instead of paying, Dito has responded to PlDt s mandatory PSe

[Philippine Stock e x change] and SeC [Securities and exchange Commission] disclosures about Dito’s material nonpayment by trying to confuse the public and referring to and mischaracterizing the issues involving Dito’s other unpaid obligations to Smart Communications Inc., a separate company with a different agreement with Dito,” PlDt said.

t h e Panglinan-led telco said Smart is unable to provide additional bandwidth to Dito until the latter agrees to pay for supposed “illegal overseas call traffic that is coming from Dito and which defrauds Smart and the government of legitimate income, and compromises interconnection to the prejudice of the legitimate calls of both Smart’s and even Dito’s own subscribers.”

t he interconnection agreement, PlDt noted, has “nothing to do” with Dito’s “refusal” to pay its P430 million “obligation” to PlDt

S hould Dito fail to pay Pl D t within a cure period of 30 days, PlDt is expected to bring its case to the courts.

“accordingly, PlDt reserves all of its remedies in case Dito does not cure its latest major payment default within the applicable 30-day cure period, including the suspension or termination of services under the parties’ service agreement,” PlDt said. Lorenz S. Marasigan

transmission line now

By VG Cabuag @villygc

ProPerty developer Century Properties group Inc. (CPg) h as restarted work on its 7.5-hectare development in San Fernando in Pampanga, after it turned over the two main buildings on the property to the residents.

t he completed two towers have a total of 1,606 units spread out over each of the two towers’ 29 floors. monica l trajano, CPg president for In-City Development said most of the buyers of the condominium units were overseas Filipino workers, but she noted a change in the profile of buyers.

“I think it (buyers’ profile) evolved especially after the pandemic. We have more buyers from metro manila and most are for end use,” trajano said.

a zure north, CPg’s venture with the David family, is just an hour and a half drive from metro manila and some minutes away from other key Pampanga commercial and residential areas such as Clark, Subic, and with its location right where the north luzon ex pressway and J. abad Santos avenue intersect.

Work on the third residential condominium dubbed Barbados, which will complete the initial development in the area, has started.

tr ajano said only 200 units in the 820-unit, 27-storey building, remain unsold.

CI t y S tate a s turias Palawan Hotel received the tourism r e silience aw ard and o utstanding Community Service aw ard from the City g o vernment of Puerto Princesa during the tourism ga la and aw ards ni ght spearheaded by the City tourism Department on September 28, 2022 at the a z iza Hotel, Puerto Princesa City, Palawan.

t he awards were in recognition of the hotel’s efforts as a tourism enterprise to remain steadfast in its

mission to the community, and for having consistently demonstrated qualities of compassion and service to others during the challenges of the past years.

a s ide from the two awards, Citystate a s turias also received three Certificates of r e cognition for its contributions during the peak of the C o V ID-19 crisis.

t h e recognitions highlighted Citystate a s turias’ participation in the Food Pantry Project, generous contribution to the ta bang Food

Drive, and service as a quarantine facility during the height of the pandemic.

a n gelica C. Duran, Human r esources officer, received the awards and recognitions on behalf of Citystate a sturias Palawan Hotel during the ga la and aw ards ni ght.

Citystate a s turias Palawan Hotel is a member of the a l C group of Companies founded by the later a mbassador a ntonio l Cabangon Chua, and currently headed by its chairman, D. e d gard a Cabangon.

TH e n a tional g r id Corporation of the Philippines (ngCP) said over the weekend that vital transmission facilities between negros and Cebu have been fully restored, increasing the reliability of power transmission services between the two islands.

t he grid operator, in an advisory, reported the energization of the a m lan-Samboan 138kV transmission line 1 was done last october 2 at 4 p.m.

t h e a m lan-Samboan 138kV tr ansmission is vital to the exchange of power within the Visayas grid, and gives ne gros and Panay consumers access to power coming from l u zon and other islands within the region. Its energization will ensure the full dispatch of Visayas grid-connected power plants,

including renewable energy sources in ne gros, said ng C P.

It can be recalled that the transmission line was damaged during DPWH dredging and re-channeling activities in a m lan, negros or iental on June 15, 2021. t he capacity of ngCP’s underwater cable to transmit power between negros and Cebu was halved, from 180 m W to only 90 m W, limiting the flow of power between islands.

ngCP is a Filipino-led, privately owned company in charge of operating, maintaining, and developing the country’s power grid, led by majority shareholders and Vice Chairman of the Board Henry Sy Jr. and Co-Vice Chairman robert Coyiuto Jr. It is the sole operating asset of Synergy gr id and Development Philippines Inc. Lenie Lectura

rates may increase this month, but the reduction in

will likely

the

Banking&Finance

LandBank backs DOTr project, deploys ATMs

PHL to tap OFWs in raising funds via retail-bonds sale

By Jasper Emmanuel Y. Arcalas @jearcalas

THEPhilippine government aims to raise at least $3 billion from Overseas Filipino Workers (OFWs) through a planned retail dollar bonds (RDBs) offering this year, Finance Secretary Benjamin E. Diokno said.

tHELand Bank of the Philippines (LandBank) announced recently two initiatives supporting public ease-of-access to finances.

a statement issued by the staterun lender over the weekend said the Landbank renewed its commitment to the Department of transportation (DOtr) to fully support programs that provide a more efficient, convenient and modern public transportation for Filipino commuters.

During a courtesy visit last september 2, LandBank President and CEO Cecilia C. Borromeo met with DOtr secretary Jaime J. Bautista to discuss ongoing and potential collaboration programs and initiatives to advance the country’s transport sector, the lender said.

t he LandBank said it and the DOtr are partners for the automated Fare Collection system (a FCs) Pilot Production testing (PP t ), which allows the use of EMV contactless credit, debit and prepaid bank cards as cashless payment instruments in public transport modes.

Only Landbank contactless cards will be accepted as fare media for the interim implementation. Once the necessary regulations or policies have been issued, the Landbank said the a FCs solution can also accept and process the EMV contactless cards issued by other local and foreign banks.

LandBank said it and the DOtr l aunched the a FCs in september, covering six units of modern public utility vehicles (MPUVs) of the PM Jeepney Drivers Operators and services Inc.

t he remaining 144 MPUV units out of the total 150 PUV units shall soon be deployed in selected pilot sites in NCR, Central Luzon, Calabarzon and Metro Cebu.

t he state-run lender, likewise, of-

fers a program it calls “speed PUV” to help finance the shift of public transport operators to modern, safer and eco-friendlier vehicles.

Under the program, public transport cooperatives and corporations may avail loans for the purchase of modern public utility jeepneys (PUJs). Landbank said it can finance up to 95 percent of the PUJ’s total cost at an affordable interest rate of 6 percent per annum, payable based on cash flow but not to exceed a maximum of seven years.

t h e National Government, through the Land transportation Franchising and Regulatory Board (Lt FRB), also offers a P160,000subsidy to borrowers for each PUJ financed under the Program.

t he Landbank said that as of endaugust, it has approved P5.3 billion in loans to 116 borrowers under its speed PUV” program.

Meanwhile, the Landbank said it deployed two mobile automated teller machines (atMs) in the Municipalities of santa Rosa and Cuyapo.

t he state-run lender said one of the atM was deployed to the Municipal Hall of sta. Rosa last september 29 to serve the urgent cash requirements of locals in the area.

t he second atM was stationed at the Municipal Hall of Cuyapo the following day in time for the payroll date of municipal employees and other Landbank customers, the lender said.

t he Mobile atMs are designed to be deployed in areas with disrupted or limited access to banking services due to disasters or calamities, in line with Landbank’s commitment to provide unhampered banking services, it added.

LandBank said that as of October 3, the lender operates a total of 20 Mobile atMs nationwide.

Perspectives

Diokno said the planned RDB offering targeting OFWs could happen before the end of the year or by early next year.

t his is for the OFWs; so maybe they can buy in $100s using an ewallet or whatever,” the chief of the Department of Finance (DOF) told reporters last week.

Diokno, however, did not provide a figure on how much the national government aims to raise from the planned issuance.

Nonetheless, he noted that if the government will be able to get at least 10 percent of annual remittances by OFWs, then the offering would generate at least $3 billion.

“It will be a new one for the OFWs.

a nnually we get something [like] $30 billion and if we get only 10 percent, [that is] $3 billion already,” Diokno said. “[availing of the RDB] is very easy for as low as $100, you can buy already.”

t he Finance chief hinted this issuance could be the last dollar-denominated offering this year.

Diokno disclosed that the national government does not have any plans yet to issue other denominated-bonds such as s a murai bonds.

Central bank data has shown that Filipino migrant workers sent home $34.884 billion worth of remittances last year. (Related story: https://businessmirror.com.

ph/2022/02/15/34-8-billion2021-remittances-above-pre-covid-level)

Opportunistic

Last year, the Philippine government raised nearly $1.6 billion from its maiden sale of RDBs, which had a minimum investment of only $300. (Related story: https://businessmirror.com.ph/2021/10/04/retail-dollar-bonds-sale-nets-1-6bfor-phl) t he amount generated from the RDB sale last year was used by the national government to bankroll various Covid-19 recovery and resilience programs.

Diokno’s disclosure came less than a week after the Philippines successfully raised $2 billion from its latest dollar-denominated bonds offering. (Related story: https://businessmirror.com.ph/2022/10/07/ phl-raises-2b-from-latest-globalbonds-issue)

He has said the success of the international offer also demonstrated international investor confidence in the administration’s efforts to boost the Philippine economy.

“ t he strong demand for [the] first international bond offering under President Marcos’ administration demonstrates investor confidence in the new government and the admin-

istration’s 6-year plan of economic transformation to a more inclusive, resilient and prosperous economy,” Diokno was earlier quoted in a statement as saying.

sought for comment regarding the dollar-denominated bond issued by the Philippines, Diokno also told reporters last week that “sometimes” a country “has to be opportunistic” while taking note that the country’s preferred mix of borrowing remains at 75 percent (domestic) and 25 percent (foreign) mix.

“75:25 that’s the preferred mix; but sometimes one has to be opportunistic,” Diokno told reporters last Wednesday.

t he DOF secretary has revealed the government is keen on borrowing more from the domestic market to “minimize” the country’s “foreignexchange risks resulting from ongoing global uncertainties.”

In March, the Philippine government borrowed $2.25 billion from its very first dollar-denominated global bonds, including its maiden green bonds. (Related story: https://businessmirror. com.ph/2022/03/22/phl-raises-2-25b-from-new-globalbonds)

t his year, the government is set to borrow a total of P2.21 trillion.

Bill to lower excise tax on fuel products filed

By Jovee Marie N. dela Cruz @joveemarie

aMEMBER of the House Committee on Energy has filed a measure lowering the excise tax on fuel to cushion the impact of high gasoline and diesel prices.

Occidental Mindoro Rep. Leody F. tarriela filed the bill amid the expected price increases of diesel by P5.90 to P6.00 and gasoline by P1.10 to P1.30 per liter on tuesday.

From 1997—when the ta x Reform act or Republic act (R a) 8424 was enacted—until 2017, there was no excise tax imposed on diesel while it was at P4.35 per liter for gasoline, tarriela said.

a f ter the passage of R a 10963 ( tR a IN Law), an excise tax was imposed on diesel: at P2.50 per liter in 2018; P4.50 in 2019; and, P6 in 2020. Excise tax on gasoline was increased

Future of commercial banking

tHE commercial banking industry is rapidly evolving through digitization, increased competition and tighter regulation. Commercial banks serving small and medium-sized businesses are transforming to compete. so, what will the future commercial banking landscape look like and what should commercial banks do to stay competitive?

In our latest report, KPMG surveyed over 400 commercial banking leaders from around the world who are involved with customer-centric strategy and enablement decisions. We identified key signals of change taking place across the industry, alongside what we believe will be the three dominant future business models in the new reality. to survive and grow in this new reality, commercial bankers should consider how a connected approach, underpinned by technology to support the front, middle and back office, will enable true value from digital transformation.

more complex environment than perhaps ever before. Changes across the industry are forcing banks to review their growth strategy and innovate to remain relevant against client demands, rapid enhancements in digital capabilities, digitization and new sources of competition.

Customer Commercial banks are building adaptable platforms and ecosystems to provide seamless customer experiences and innovative new products. successful commercial banks should provide a complete end-to-end experience across multiple integrated channels (including the convergence between pure retail and corporate portals).

Data, digital and technology

Both financial and non-financial players can thrive in new ecosystems open to integration, greater connectivity and data sharing. technologies such as distributed ledgers and quantum computing will increase transaction efficiency and enhance information sharing, security and transparency.

Trust st akeholders (including pub-

lic communities) are constantly scrutinizing the impact of banks’ products, services, culture, operations and relationships on people and the environment. Commercial banks consider regulation and governance as the most important factor to earning trust and 40 percent believe that by building trust with consumers, they can enhance the brand reputation, achieve higher efficiency and more sustainable growth.

Future business models

WE believe three business models will dominate the commercial banking market:

1. Re-imagined digital commercial bank. t hese banks will transform into fully connected digital banks, leveraging capital and data, while commercializing traditional cost centers through the rebundling of services to offer a full range of hybrid value propositions and banking services to generate new income streams.

2. Banking-as-a-Service (BaaS). Baa s providers will develop and license services and

to P7 in 2018, P9 in 2019 and P10 from 2020 onwards.

“Due to the recent conflict between Russia and Ukraine, world crude prices have risen to almost $120 per barrel. a s a result, local gasoline and diesel prices jacked up to more than P80 per liter,” tarriela said. “Furthermore, this caused higher inflation rates which added an additional burden to our fellow constituents who are already facing drastic decrease in household income, if not joblessness and other economic hardships, amid the pandemic.”

Hence, the lawmaker said, “there is a need to arrest the continuous and drastic rises in the prices of petroleum products.” Doing so “is necessary to protect the welfare and alleviate the burden of the consuming public, still reeling from the destructive effects of the pandemic,” he added.

Under House Bill (HB) 3628, the

excise tax shall gradually decrease as fuel prices increase.

For unleaded premium gasoline, if the price per liter is at P50 or less, the excise tax shall be at P10. It shall gradually decrease by P1 for every P5 increase in per liter prices, until it reaches only P4 excise tax when the price per liter is P75 or higher.

For diesel, the excise tax is pegged P6 if the price per liter is P50 or less. t he tax also decreases by 50 centavos increment, until it is only at P3, if the price per liter of diesel increases to P75 or higher. tarriela explained that the ta x Reform for acceleration and Inclusion, or “ tR a IN,” law (R a 10963) was enacted in 2017 for the purpose of generating additional revenues for the government.

t he lawmaker said this is primarily to finance the “Build, Build, Build” (now “Build Better More”) infrastructure program of the na-

tional government. tarriela said the law seeks to ensure there is funding for health, education, jobs and social protection programs.

tarriela said his HB 3628 does not totally remove the excise taxes on petroleum, but it is a compromise measure as it recognizes the need for the government to continuously raise revenues for the projects under the tR a IN Law.

“ t his continuing increase in fuel prices affects not just motorists or rich people with motor vehicles. It affects everyone as prices of basic commodities increase as fuel prices increase,” he said.

tarriela explained the measure he filed “will cushion this burden.”

“Moreover, by having these graduated reductions of excise tax as petroleum prices increase, then we can truly say that our system of taxation is indeed progressive,” he said.

products and manage user interfaces to provide commercial banking services to end users, through intermediary partners. t hey will rely on products and services for income streams and deliver them through a PIs using a platformbased infrastructure.

3. Platform provider. t h e platform provider develops infrastructure to enable the commercial banking ecosystem by providing, maintaining or policing a banking platform or ecosystem with either open or closed access for its own and others’ purposes. t he platform is a gateway to any number of services and clients and the technological infrastructure is the main source of income.

KPMG Connected Enterprise

a P PRO a C HING change means adapting to a connected operating model. t he KPMG Connected Enterprise approach is designed to help commercial banking organizations assess their existing capabilities, identify capability gaps and manage the transformation hurdles across the enterprise to

design and embrace their future business models.

Our approach is centered on enhancing all eight connected capabilities across the enterprise to the level that can provide the greatest value. t hese connected capabilities map to the operating model of a bank and can allow you to prioritize, shape and execute your digital transformation.

KPMG professionals help commercial banks evaluate their maturity across these connected capabilities, shape their transformation agenda and plans and deploy improvements in the capabilities across the enterprise with the aim of providing the greatest value.

With the consumer at the core, there are five critical questions that commercial banks should ask themselves:

1. a re you connecting your clients/brokers with compelling value propositions, opportunities and interactions?

2. a re you connecting and empowering your employees to deliver on the client promise?

3. a re you connecting your front, middle and back offices to execute the client growth agenda?

4. a re you connecting your ecosystem of business partners to jointly deliver on commitments to clients?

5. a re you connecting to market dynamics and digital signals? to know more about the capabilities of the KPMG Connected Enterprise in delivering tools, methods and frameworks to achieve a new, better business-as-usual with agility and accelerated innovation, visit: https://home.kpmg/xx/en/ home/services/advisory/management-consulting/kpmg-connectedenterprise.html

The excerpt was taken from the KPMG Thought Leadership publication: https://home.kpmg/xx/ en/home/insights/2022/09/future-of-large-commercial-banking.html

KPMG Intl. Ltd. is a private English company limited by guarantee. In the Philippines, it has the Philippine partnership R.G. Manabat & Co. as a member firm. For more information on KPMG in the Philippines, you may send an e-mail to ph-kpmgmla@kpmg.com, send us a message on social media or visit www.home.kpmg/ph.

This undated photo courtesy of the Land Bank of the Philippines shows people using one of two mobile automated teller machines it deployed in the Municipality of santa Rosa and the Municipality of Cuyapo

Nueva

Explainer

How will oPEC+ Cuts affECt oil PriCEs, inflation?

By David McHugh | The Associated Press

FRANKFURT, Germany—Ma

jor oil-producing countries led by Saudi Arabia and Russia have decided to slash the amount of oil they deliver to the global economy.

And the law of supply and de mand suggests that can only mean one thing: higher prices are on the way for crude, and for the diesel fuel, gasoline and heating oil that are produced from oil.

The decision by the OPEC+ alli ance to cut 2 million barrels a day starting next month comes as the Western allies are trying to cap the oil money flowing into Moscow’s war chest after it invaded Ukraine.

Here is what to know about the OPEC+ decision and what it could mean for the economy and the oil price cap:

Why is opec+ cutting produc tion?

Saudi Arabia’s Energy Minister Abdulaziz bin Salman says that the alliance is being proactive in adjust ing supply ahead of a possible down turn in demand because a slowing global economy needs less fuel for travel and industry.

“We are going through a period of diverse uncertainties which could come our way, it’s a brewing cloud,” he said, and OPEC+ sought to remain “ahead of the curve.” He described the group's role as “a moderating force, to bring about stability."

Oil prices have fallen after a sum mer of highs. International bench mark Brent crude is down 24% from mid-June, when it traded at over $123 per barrel. Now it’s at $93.50.

One big reason for the slide is

fears that large parts of the global economy are slipping into reces sion as high energy prices—for oil, natural gas and electricity—drive inflation and rob consumers of spending power.

Another reason: The summer highs came about because of fears that much of Russia's oil production would be lost to the market over the war in Ukraine.

As Western traders shunned Rus sian oil even without sanctions, cus tomers in India and China bought those barrels at a steep discount, so the hit to supply wasn’t as bad as expected.

Oil producers are wary of a sud den collapse in prices if the global economy goes downhill faster than expected. That’s what happened during the Covid-19 pandemic in 2020 and during the global finan cial crisis in 2008-2009.

How is the West targeting Rus sian oil?

The US and Britain imposed bans that were mostly symbolic because neither country imported much Russia oil. The White House held off pressing the European Union for an import ban because EU countries got a quarter of their oil from Russia.

In the end, the 27-nation bloc decided to cut off Russian oil that comes by ship on December 5, while keeping a small amount of pipeline supplies that some Eastern Euro

pean countries rely on.

Beyond that, the US and other Group of Seven major democracies are working out the details on a price cap on Russian oil. It would target insurers and other service providers that facilitate oil shipments from Russia to other countries. The EU approved a measure along those lines this week.

Many of those providers are based in Europe and would be barred from dealing with Russian oil if the price is above the cap.

How will oil cuts, price caps and embargoes clash?

The idea behind the price cap is to keep Russian oil flowing to the global market, just at lower prices.

Russia, however, has threatened to simply stop deliveries to a country or companies that observe the cap. That could take more Russian oil off the market and push prices higher.

That could push costs at the pump higher, too.

US gasoline prices that soared to record highs of $5.02 a gallon in mid-June had been falling recent ly, but they have been on the rise again, posing political problems for President Joe Biden a month before midterm elections.

Biden, facing inflation at near 40-year highs, had touted the fall ing pump prices. Over the past week, the national average price for a gal lon rose 9 cents, to $3.87. That's 65 cents more than Americans were

paying a year ago.

“It’s a disappointment, and we’re looking at what alternatives we may have,” he told reporters about the OPEC+ decision.

Will the opec production cut make inflation worse?

Likely yes. Brent crude should reach $100 per barrel by December, says Jorge Leon, senior vice presi dent at Rystad Energy. That is up from an earlier prediction of $89.

Part of the 2 million-barrel-perday cut is only on paper as some OPEC+ countries aren't able to pro duce their quota. So the group can deliver only about 1.2 million bar rels a day in actual cuts.

That’s still going to have a “sig

nificant” effect on prices, Leon said.

“Higher oil prices will inevitably add to the inflation headache that global central banks are fighting, and higher oil prices will factor into the calculus of further increas ing interest rates to cool down the economy,” he wrote in a note.

That would exacerbate an energy crisis in Europe largely tied to Rus sian cutbacks of natural gas supplies used for heating, electricity and in factories and would send gasoline prices up worldwide. As that fuels inflation, people have less money to spend on other things like food and rent.

Other factors also could affect oil prices, including the depth of any possible recession in the US or Europe and the duration of China’s Covid-19 restrictions, which have sapped demand for fuel.

What will this mean for Russia?

Analysts say that Russia, the big gest producer among the non-OPEC members in the alliance, would ben efit from higher oil prices ahead of a price cap. If Russia has to sell oil at a discount, at least the reduction starts at a higher price level.

High oil prices earlier this year offset much of Russia's sales lost from Western buyers avoiding its supply. The country also has man aged to reroute some two-thirds of its typical Western sales to custom ers in places like India.

But then Moscow saw its take from oil slip from $21 billion in June to $19 billion in July to $17.7 billion in August as prices and sales volumes fell, according to the International Energy Agency. A third of Russia's state budget comes from oil and gas revenue, so the price caps would fur ther erode a key source of revenue.

Meanwhile, the rest of Russia's economy is shrinking due to sanc tions and the withdrawal of foreign businesses and investors.

peopLe and media gather at the entrance of the building of the organization of the petroleum e xporting countries, in Vienna, Austria, Wednesday, oc tober

P P Moritz Jenne

The posiTive effecTs of music in our lives

MUSIC has always been known to be beneficial not only for our minds and bodies but also for the soul. I always find it amazing how certain songs can bring back special memories that can immedi ately make us feel happy, excited or even bring a calming or soothing effect to our moods. According to some research ers, music may even have the power to improve both our physical and mental health in various ways.

Matters

By Joy Lumawig-Buensalido

Have you noticed what happens when we hear a familiar song? We either end up singing or humming it ourselves, of ten long after we have heard it, which is what we call the LSS or the “last song syndrome.” Some may tap their feet or sway to the beat. Many of us may smile at a pleasant memory we associate with the song or it could leave us wistful.

Music can draw out a range of emo tions which confirms what experts have discovered through years of research and trials. It has been shown that music has the ability to elevate the mood, reduce stress by lowering the blood pressure and heart rate, stimulate memory, and en courage movement.

According to Dr. Darwin A. Dasig, MD from the Neuroscience Department of leading hospital Makati Medical Center, there is actual evidence from neurologi cal researches that music can trigger the release of certain neurochemicals.

“Among these are dopamine, a chemi cal associated with pleasure, serotonin, a hormone related to immunity; oxytocin, the chemical that regulates emotional re sponses of pro-social behaviors; and opi oids, the body’s natural pain relievers. “

Dr. Dasig added that based on the en couraging results of several trials involv ing music and patients who have under gone surgery, it was likely that music can, indeed, heal.

“In 73 international studies involv ing patients who listened to music after surgery, researchers discovered that those who listened to music before, during, or af ter their procedure, had less pain, took less medication, and were less anxious after the operation. These positive results lasted more than four hours after surgery.”

I have always been in awe of musical geniuses, whether they are composers from Beethoven to Bach to our very own Lucio San Pedro and Ryan Cayabyab, to performers such as Barbra Streisand and Lea Salonga, groups like the iconic Bea tles. I must also mention today’s popular talents like the BTS which seems to have caught a phenomenal “army” of fans all over the world, which include not only the younger audiences but professionals, moms, and grandmoms too. I realize now that we owe so much to all these artists whose music has touched our lives very positively.

On a personal level, I have been fortu nate to be a member of our church choir called the Sounds of Santiago (SOS) and for over 20 years, we have been learn ing not only Church songs for mass, but also many Filipino originals and various Christmas melodies and compositions which I never imagined I would be able to sing or keep in my memory bank (though mostly in our iPads which we use for our music sheets.)

More than the opportunity to sing with like-minded individuals, most of whom are doctors, married couples and professionals who also love sing ing as a way to relax and unwind, I value the friendship and camaraderie of our group’s members from whom I have learned so much about music. The side benefit of course is that during our weekly practices before the pandemic, we savored that rehearsal time to forget our work and mundane problems as we learned how to sing new songs. To me, singing was therapeutic—singing not only for God but as a form of healing our minds and our souls.

To support my belief that music heals, I have singled out the beautiful pianist of SOS, an extraordinary talented indi vidual because she is not only a musi cal genius; she is also a genius technolo gist/mom/wife/ who now uses music for health, healing and well-being. How to describe her? Meet Solinda Bautista, in her own words:

“Ma. Solinda Bautista—Sol, was born with Beethoven concertos piped into her Mommy Fe’s tummy c/o her Daddy Ben, influencing not only her but also her fu ture children to-be. After cross-majoring in business and accountancy in UP Dili man, and music and piano in college with top music mentors in the Philippines, and garnering awards in national piano and electone competitions, she graduated cum laude, placed 8 in the CPA boards, delivered her piano graduation recital with the Philharmonic, and performed for the country’s First Lady all in the same year.

Initially an IT consultant for a top international business consulting firm, tackling major engagements in HK, To kyo, Chicago, and NY for 7 out of 10 years, she continued her career harness ing technology and bringing it to the forefront for a large global financial firm, throughout multiple mergers and acquisi tions, as an IT executive, for 18 years.

With her radiologist-husband Dennis of close to 34 years, they have 3 chil dren—Creative Jaron, 30, 3D anima tor, learned to draw fighter planes as a toddler way before he could catch a ball. Mind mapper Kevin, 28, the family’s “hu man GPS,” loves traveling, navigating, and documenting patterns and linkages in the past and in the future. Graceful Jinka, 23, topped her high school dance competitions, and is the family band’s youngest drummer.

Having started ensemble playing with her siblings, Sol continues to find joy in making people happy through music, be it classical or pop, but best with Jaron on vi

Those are the impressive credentials of Sol Bautista, a petite yet most accom plished lady. After early retirement, Sol is now even busier advocating about how music helps us deal with life’s challenges to nearly 8,000 people at medical, music and academic conferences, and conduct ing music-focused programs that help inspire, bond and transform companies, organizations, and communities.

“My first love was playing the piano, and now I love drawing out Life’s mean ing from music. After three decades of harnessing technology to solve business challenges, I now harness music to help solve people’s problems. I am able to help individuals of different ages and abili ties, I help schools, communities, and organizations, and I also help corporate clients” says Sol.

In 2021, Sol was a speaker at the Asian Rhythm Facilitators’ Conference (ARFC) on the topic “Variations on the Theme of Rhythmic Facilitation” where she pre sented 12 of her case studies from her three years of being a drum circle facili tator. Yes, after classical piano she has added being a drum circle facilitator to her multi talents.

So, her musical experience start ed with her being a performer then a trained music therapist to adaptive piano teacher to coach to musical director and now, a drum circle facilitator. A Drum Circle Facilitator is an individual who makes interactive music making experi ence “easier” for participants.

As a DC facilitator, she helps draw out creative expression, beat burnout and create meaningful connections for corpo rate clients, communities, groups of kids, seniors, organizations, schools, and ad vocacy groups.

It was interesting how she described

each of her cases to the ARFC audience with DCF innovator Arthur Hull, Sol’s mentor, present. Without going into the technical details of her experiences, she cited one corporate drum circle where she was tasked to help an entire depart ment of co-workers who weren’t talk ing to each other. Within the first 20 minutes and the use of non-threatening group drummings, she was able to break down the communication barriers in that corporate setting and before long, the people concerned led by the CEO himself realized that they were starting to “com municate” and acknowledge each other’s ideas with the use of music and rhythm on their drums. While tapping on drums and percussion and given the guidance of a facilitator like Sol, communication in the company had slowly been restored.

Music comes in many forms, sounds and rhythms. And the healing it brings can also affect many different situations and people. We in the corporate world would do well to consider using music not only for our work but also to improve our health and well-being.

As Sol concluded in her talk: “The more you experience music and the more you experience life, the more metaphors come popping in, powerfully connecting music experiences to life.”

PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Rela tions Association (Ipra), the world’s premier association for senior communications pro fessionals around the world. Joy LumawigBuensalido is the President and CEO of Buensalido PR and Communications. She was past Chairman of the Ipra Philippine chapter for two terms.

PR Matters is devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.

olin, Kevin on keyboards, Jinka on drums, and Dennis on drums or digital sax, and now even with autism and senior com munities. Great way to show God’s love through family and community.”

Sol BautiS ta closing a medical conference with a 150 doctors in a community drum circle

Sol—Solo on Frame Drum

BautiSta Family

Obiena wows kids, fellow athletes in visit to weekly relays at PhilSports

THE plan was to stay for three weeks, but for one reason or another, Ernest John ‘EJ” Obiena’s vacation was extended a week with Asian men’s pole vault record holder flying to Italy in four days.

A nd Obiena made sure his extra week would be a worthwhile extension of his R&R, his first since December 2019 when he flew to Italy to train at the world pole vault center in Formia with legendary coach Vitaly Petrov after he won gold at the 30 th Southeast Asian Games.

So on Sunday, Obiena drove to the PhilSports Complex in Pasig City to surprise participants at the Philippine Athletics Track and Field Association Weekly Relays.

To brighten the weekend, Obiena gave out five pairs of Puma athletics shoes to young and aspiring participants who were made to answer trivia questions in track and field to snatch one of the prizes.

O ne lucky youngster was eightyear-old Mark Luiz Ruto, a thirdgrader from Majada Elementary School and an up-and-coming prospect from Calamba, Laguna, who’s training out of Team iSKOLAR Atletiks Running Club.

Not only did Ruto win a pair, but he got a rare privilege of getting photographed with his Tokyo Olympian idol, an experience he’d surely cherish come the time he’ll be in Obiena’s big shoes fighting for flag and country.

I accomplished a lot of little things that I wanted to do like giving away shoes to kids and meeting my fans,” Obiena told BusinessMirror as he tirelessly had his photos taken with enthusiastic athlets— numbering 250 in the particular weekend. “I’m really overwhelmed to meet them personally.”

The R&R was worth it, Obiena said.

“ I and Caroline [Joyeaux] spent a few days at El Nido and some islands in Palawan before heading back to Manila to attend to a lot of things,” he said. “But Caroline had to return to Germany to start her training.”

Obiena and Joyeaux, his long jumper girlfriend, arrived in the country last September 15 for a muchneeded vacation. He’s been in Europe for almost three years—training and making the rounds of the outdoor and indoor season, including the world championships in Eugene, Orego, where he bagged bronze last July.

Josef Ramos

By Josef Ramos

EUMIR WINS, JERWIN LOSES

for the Tokyo Olympian who fought with more savvy than his previous two professional fights to earn the nod of judges James Green, Ivan Guillermo and Ellis Johnson. He got identical scores of 60-54.

I would like to thank God for keeping us safe and for giving me the win,” Marcial posted on his social media account. “So thankful to the millions of Filipinos around the world who prayed for me and to those who watched my fight.”

e Marcial-Pichardo duel was on the same fight card as the Jerwin “Pretty Boy” AncajasFernando Daniel Martinez duel, but Ancajas bowed to the Argentinian anew to lose his bid to regain the International Boxing Federation super flyweight belt he lost to the same opponent earlier this year.

A n accidental head butt from the American in the second round caused that nasty cut but it wasn’t serious enough for the referee to stop the contest.

After being hit suddenly by an accidental headbutt, I couldn’t see with my right eye because of the the

blood,” he said. “But I was able to find a way and we’re able to handle it although it’s not 100 percent.”

Five stitches were required to close the cut.

We had a good game plan … unlike the previous bout [against Isiah Hart],” he added. “I hit him with solid punches and he was a little bit groggy, but I couldn’t follow it up because the blood on my right eyebrow was flowing.”

M arcial said he was thankful to Philippine Olympic Committee President Rep. Abraham “Bambol” Tolentino who called him after the fight.

I was surprise with the call and I am very thankful to Mayor Bambol for calling me after the fight,” he said.

The 26-year-old Zamboanga City pride—owner of four Southeast Asian Games gold gold medals but more importantly a bronze medalist in last year’s Olympics— pummeled Pichardo in the fifth and sixth round where he piled up points to emerge as the clear winner.

M arcial was the dominant fighter in the fifth round as he

battered the 6-foot-1 American from Gardena, California, with uppercuts and and combinations.

It was a different Marcial who showed up on Sunday, unlike in his sec ond pro fight when he had to buck three knockdowns before beating another American who’s taller at 6-foot-2, Isiah Hart, with a fourth round technical knockout win last April in Las Vegas.

Coached by Jorge Capetillo, the 5-foot-8 Marcial sent Pichardo to his third loss for an 8-3-1 win-loss-draw record with two knockouts.

ANCAJAS BOWS

Federation (IBF) super flyweight title he yielded to the Argentinian last February 16 in Las Vegas.

A ncajas came out scorching in the first, second and fifth rounds but couldn’t sustain his attack and absorbed another unanimous decision loss to Martinez.

The 31-year-old Martinez, a veteran of the Rio de Janeiro 2016 Olympics, was the more aggressive in the later rounds to get 119-109, 118-110 and 118-110 scores from the three judges.

A ncajas, 30, got the crowd to its feet when Martinez hit the canvas in the 11th round. The referee, however, ruled it as a slip.

The boxer from Panabo City was a gentleman in the loss. After taking a bow, he congratuled the camp of Martinez, who remained spotless in 15 fights with with eight knockouts).

I will rest first,” Ancajas, who suffered his third defeat in 37 bouts (33-3-2 record with 22 knockouts) told BusinessMirror via internet message. He didn’t attend the post-fight press conference for the mandatory medical checkup.

EUMIR

FELIX MERCIAL boxed with a nasty cut near the corner of his right eye but despite blood flowing down his cheek, he remained a warrior atop the ring and beat American Steve Pichardo via unanimous decision for his third straight victory as a pro Sunday in Carson City, California. It was a non-title six-rounder

Baclaan powers NU against UST

Tigers with 20 points, 10 rebounds, four assists, and two blocks, while Cabañero had 16 points and 12 rebounds.

Del Rosario, Raagas grab top honors in Cavite Ironkids

(14:30) before cruising to victory with a time of 11:59 in the run.

K

EAN BACLAAN towed National University (NU) past his former team University of Santo Tomas (UST), 69-63, in the University Athletic Association of the Philippines Season 85 men’s basketball tournament at the Smart Araneta Coliseum Sunday.

T he 5-foot-8 freshman had his best game in Bulldogs uniform with 16 points, seven assists and four steals.

We’re lucky we got that win because UST is one team that doesn’t gibve up,” NU Coach Jeff Napa said. Down by as many as 14 points, the Growling Tigers slashed the deficit to eight behind Jamba Garing’s

fastbreak with 2:38 left in the third frame.

B ut the Bulldogs answered back with an 18-8 run bridging through the third and fourth periods to their lead to 18, 62-44, with eight minutes to go.

John Lloyd Clemente also finished with 16 points, while Omar John and Mike Malonzo had eight points apiece with the Malonzo grabbing 11 rebounds for NU.

The Bulldogs improved to 2-1 for solo third while the Growling Tigers fell to a three-way tie for fifth with Adamson University and University of the East with a 1-2 card.

A dama Faye led the Growling

Lady Bulldogs clobber JRU belles

NATIONAL University (NU) flaunted its might with a masterful 25-14, 25-6, 25-12, dismantling of Jose Rizal University (JRU) Sunday in the Super League Collegiate Pre-season Championship at the Rizal Memorial Coliseum.

The Lady Bulldogs started out flat in their first game in Pool C before quickly shifting to full gear by displaying the same tenacity and aggressiveness that keyed their unbeaten championship run in the University Athletic Association of the Philippines.

NU uncorked a 10-1 barrage to close the opening set and rattle the Lady Bombers who managed to breath down the Lady Bulldogs’ necks, 15-13.

The towering Lady Bulldogs bullied their way to the emphatic sweep from there.

We were a bit rusty coming off a one-week vacation and we just got back to

training a week ago. We are still far from our competitive form but at it is a good thing we’re now back to our usual grind,” NU Coach Karl Dimaculangan said.

Team captain Cess Robles pounded the defense of JRU with 11 points in just a set of action while Minierva Maaya added 10 points for the Lady Bulldogs.

T he Lady Bombers slid to 0-2 card. Sydney Niegos and May Ruiz scored six each for JRU.

De La Salle University, meanwhile, inched closer to securing a seat in the next round after coming back from a set down to score a 22-25, 25-22, 25-22, 25-19, win over reigning National Collegiate Athletic Association champion College of St. Benilde in Pool D late Saturday.

THE first FIFA World Cup that I saw way back in 1978 where Argentina won its first trophy against the Netherlands.

If I remember it correctly, the matches were like 13 hours behind.

Meaning, if they were played in the evening, I would be in school the next day. So, we only caught the results in the evening news.

F urthermore, when the World Cup was shown on Philippine television even in the years afterwards, we didn’t get all the matches. And more often than not, they were delayed.

Television coverage got better in the intervening years more so when I was with Solar Sports in 2006, we showed the World Cup in Germany. We were able to show a lot if not all the matches live.

L ike the Olympics, the FIFA World Cup is something I eagerly looked forward to watching and reading about.

For all the criticism heading into the last World Cup in

I n women’s basketball, De La Salle University beat archrival Ateneo, 7567, also at the Big Dome Sunday.

After Jhazmin Joson pulled the Blue Eagles to within three, 70-67, after a steal and a bucket with 1:50 to go, but Lee Sario put the finishing touches on the Lady Archers’ victory.

S ario had 19 points for the Lady Archers—11 in the payoff period—to go with 11 rebounds.

Fina Niantcho added 13 points and 10 rebounds. Charmine Torres did it all with 10 points, six assists, five rebounds and five steals.

The Blue Eagles slid to 1-2 alongside Far Eastern University and Adamson University.

PETER

Del Rosario and Raagas both placed second in the opening swim leg but flashed superb riding skills and staying power to share top honors in the premier 13-14 age group category of the junior version of triathlon that drew hundreds of participants and at the same time served as a venue for families to bond.

Del Rosario clocked 34:32 over the 400-meter swim, 8-km bike ride and 3-km run race. He came out second to Angelo de Vera (6:23) with a 6:25 clocking in the swim but took charge in the bike

Darell Bada placed second in 36:22 with clockings of 6:47 (swim), 14:48 (bike) and 13:19 (run) while Red Reyes nipped de Vera (38:39) for the bronze with 36:56.

R aagas also settled for second in the opening leg with 12:37, next to a hot-starting Erin Pakingan (12:34) but while the former stepped up her charge in the bike (17:03) and run (15:12) to win in 42:35, the latter struggled in the second leg (21:37) and in the run (26:49) and tumbled down to fifth in 58:45.

K hiel Milla snatched runner-up honors in 48:24 with leg clocking of 12:45, 18:19 and 19:35, while Danielle Menchavez finished third in 49:14 and Keanne Pumaren ended up fourth in 55:46.

O ther winners were Diego Dimayuga and Samantha Hodges (11-12) with the former clocking 26:27 and the latter posting a 29:36 time over the 300-meter swim, 6-km bike and 2-km run race; Pio Latonio and Aliya Adre (9-10) with the former turning in a 23:49 clocking and the latter submitting a time of 25:26 over the 200km swim, 6km bike and 1.5km run distance.

A ndrew Dugaduga and Pia Gito topped the 6-8 category disputed over the 100m swim, 2km bike and 1km run stretch in 17:05 and 18:44, respectively, while Team Bagas Castillo (11-14) and Team Soyeung (6-10) claimed the relay trophies in 30:30 (300-meter swim, 6-km bike and 2-km run) and 17:30 (100-meter swim, 2-km bike and 1-km run), respectively.

2018

The

Th is will

back after missing 2018.

We will find out if France can defend their title. We will learn if England can be hungry enough to build on their loss in the Euros. That and the expectations of playing the United States that has a young but talented team.

There will be first as well with five substitutes allowed and the first with women referees.

increasing

the next edition

Th is will be in all likelihood the last for Leo Messi, Cristiano

and

Denmark’s Christian Eriksen who suffered a heart attack in the recent European Championships is back to lead the most talented national side in this year’s World Cup. They could really go deep into the competition.

The questions about Germany’s rebuild will be answered in this tournament. And the Netherlands and Ghana are

Brazil has an incredible attacking line while Spain has once more a magical midfield.

There’s more and Filipinos will have the opportunity to watch all the matches, replays, interviews, features, and even choose what games (in the knockout stages) they wish to watch on TapGo TV.

They have the early bird price for the entire tourney and more for P1,499 (it will go up to P1,999 after October 31).

Th at’s way cheaper than the $50 I pay to watch these boxing pay-per-views.

PETER DEL ROSARIO (left) and Celinda Raagas hold their trophies after emerging on top of the centerpiece division of the kids version of the triathlon.

TO MARTINEZ ANEW JERWIN “PRETTY BOY” ANCAJAS took an ugly result of his rematch with Fernando Daniel Martinez to lose his bid to regain the International Boxing

EIGHT-YEAR-OLD Mark Luiz Ruto is a picture of happiness all over as he gets a photo—and a pair of shoes—with his idol Ernest John “EJ” Obiena.

DEL ROSARIO and Celinda Raagas fueled their respective title drive in the bike stage then sustained their pace in the closing run event to dominate the IRONKIDS Philippines at the Vermosa Sports Hub in Cavite Sunday.

SMB TRIUMPHS The San Miguel Beermen—Ken Bono, Wendell Comboy, Jeff Manday and Raffy Verano—celebrate their title in Leg 4 of the Philippine Basketball Association 3x3 First Conference Sunday at Robinsons Malabon. The Beermen beat the TNT Tropang Giga in overtime, 22-20, in the final.

NOT even a nasty cut could stop Eumir Felix Marcial from pursing his pro boxing dream as he emerges victorious in Carson City and with the Tokyo Olympics bronze medalist for a tri umphant pose are (from left) his coach Jorge Capetillo, wife Princess, international match maker Sean Gibbons and referee Gerard White.

PHOTO JHAY OH-OTAMIAS

JERWIN “PRETTY BOY” ANCAJAS fails in his rematch with Argentinian Fernando Daniel Martinez. PHOTO JHAY OH-OTAMIAS

LAUDED VITRA DESIGN MUSEUM PIECES TO BE EXHIBITED IN PHL

MINIATURE versions of the most iconic furniture will be showcased in 62 Icons: Milestones in Furniture Design from the Vitra Design Museum, an exhibit at the De La SalleCollege of Saint Benilde (DLS-CSB) Design and Arts Campus, beginning on October 14, 2022.

The selection came from the world-renowned Vitra Miniatures Collection of the Vitra Design Museum in Weil am Rhein, Germany. At one-sixth scale of the originals, to allow further understanding, each will be featured along with information on the objective, the status quo during its creation and the public reception.

A series of minute replicas of furniture design milestones, it encompasses the rich history of the craft from Historicism and Art Nouveau, Bauhaus and New Objectivity, Radical Design and Postmodernism, up to the most contemporary design innovations.

Masterpieces of notable legendary names in the architecture and industrial design are part of the exhibition, to include Mies van der Rohe and The Barcelona Chair, Marcel Breuer and The Wassily, Charles and Ray Eames and The Lounge and Ottoman, George Nelson and The Marshmallow Sofa, and Gaetano Pesce and his La Mamma.

The Fred Yuson-led CWC Interiors, the exclusive distributor of the popular Vitra brand, likewise chose select versions of furniture to be displayed alongside the minis for the duration of the show. The company also partnered with the DLS-CSB animation program, whose students were tasked to animate the stories of the chairs, with mentorship from Arnold Cheng, Francis Flores, Carmichael Hirang, Jan Yolec Homecillo and Jeremy Sanchez. They likewise contributed their own clips. The videos will be screened inside the gallery plus on social media platforms.

62 Icons: Milestones in Furniture Design from the Vitra Design Museum is open weekdays, from 10 am to 6 pm, at the DLS-CSB Design and Arts Campus from October 14 to December 17, 2022.

Due to prevailing health and safety protocols, advance registration is mandatory. Visitors may fill out the appointment form at tinyurl.com/62Icons.

Choosing to play creates whimsical playgrounds

featured in his latest solo exhibition with Galerie Anna. The show, titled Third Thoughts, opens on October 11 and runs until October 24.

Tamondong has been active in the local and regional art scene since 2003. He expresses daring concepts through geometric forms and bursting colors, a style that has won him acclaim and several contests. This includes the PLDT-DPC National Director Cover Visual Art Competition and the Art Association of the Philippines Annual Art Competition.

modernist art school of the 20th century, Tamondong introduces beings—or at least the representation of them—in his creations.

Amid the strong, red background in Third Thoughts Series #11, watchful, bloodshot eyes appear to be on the lookout for threats. Meanwhile, tamed entities hold their posts in midnight scene in Third Thoughts Series #4.

Tamandong also presents a black-and-white artwork in Third Thoughts Series #2. Is it the artist’s way of proving that his art does not rely on colors alone?

❶

THIRD Thoughts Series #15, Christian Tamondong, 2022, acrylic on canvas, 48”x36”

❷

THIRD Thoughts Series #2, Christian Tamondong, 2022, acrylic on canvas, 48”x36”

❸

THIRD Thoughts Series #13 Christian Tamondong, 2022, acrylic on canvas, 48”x36”

FOR visual artist Christian Tamondong, the concept of letting loose and having fun usually involves the creation of fantastic realms. Such is what transpired recently when the artist had to make a choice—one that proved to be easy and ultimately auspicious.

“I was thinking of working or sleeping,” he said, “but I decided to play instead.”

It was a decision that led to the birth of Tamondong’s new, abstract worlds which are now

In his newest showcase, Tamondong presents a series of paintings that serve as a playground for the audience to explore. While it’s the artist who chose to frolic in his peculiar worlds, it is actually the audience who gets to play.

Third Thoughts draws viewers to delve into the artist’s dimensions. The artworks draw shades of the signature styles of noted Bauhaus artists. There’s the curated ambience of Joan Miró and the prominent forms of László Moholy-Nagy. But unlike other proponents of what’s considered the most influential

The artist may also simply be inviting the audience to some level of active participation. By presenting a break in the multi-colored showcase, the viewer might feel compelled to supply the hues in the piece on his/her own.

After all, Tamondong’s idea for the exhibit is to play. What good is playtime if not shared with others?

Galerie Anna is located at SM Megamall Building A in Mandaluyong City. More information is available at www.facebook.com/galerieanna or www.instagram.com/ thegalerieanna. ■

Cacnio, Banal vividly resonant in joint exhibit

LOCATED in Ayala Center, Makati City, Arte Bettina presents a two-man show of Ferdinand Cacnio and Naomi Banal.

Billed as Vivid Resonance, the exhibit showcases Cacnio’s and Banal’s picturesque imagination chained to their inner rhythm. It is a collection of elegance and grace as visualized by their signature artistry—metal works and his poignant yet surreal strokes for Cacnio, and non-figurative yet radiant and expressive illustrations for Banal.

Vivid Resonance celebrates personal melody through abstract expressions and motion. The exhibition is ongoing until October 20, 2022. The brain is undoubtedly a powerful organ. As humans, we have tried to take advantage of it by thinking of innovative ideas and experimental studies that can potentially help humanity. With this grandiosity, however, we often forget one of its primal abilities to feel through

our senses and create. The edge of an artist’s brain is that these abilities are somehow a part of his nature—to create something and share the experience through various outlets.

In 2014, a scientific research published in Neuroimage discussed the findings they had through an experiment between art students and non-art students. The research focused on how artists have “structurally different brains” compared to other people.

Similarly, to musicians and other creative individuals with different focused skills, the artist’s brain, according to the study, has significantly more gray matter on certain parts of the brain that amplifies creativity and imagination. The more pronounced cerebral area helps “potentially [in] things that could be linked to creativity, like visual imagery—being able to manipulate visual images in your brain, combine them and deconstruct them,” according

to Dr. Chamberlain, the study’s leading expert.

The difference in cognitive functions certainly creates a heightened and atypical perception of the world. What seems mundane to others can appear peculiar to a creative mind. Even in the absence of chemical disruptions, the mind of an artist has the ability to trick or amplify sensations or even create something phenomenal.

This is what makes Naomi Banal outstanding. Her ability to deconstruct emotions and experiences through abstract expressions, vibrant colors and expressive frameworks without compromising their essence, shows her deep understanding of varying phenomena and objects. With her collection of works, it is easy to spot how unique she thinks and dissects certain objects. As an avid floral painter, Banal undoubtedly studies her subjects; to strip them and identify

their core beauty and let them illuminate her works—a kind of complexity that surrounds her every work of art.

Ferdinand Cacnio, meanwhile, is a man of multiple talents and skills. He is well-known for his elegant sculptures and effervescent paintings. To others, he is an experienced graphic designer. To some of his closest friends, he is a dancer. At his core, Cacnio has immersed himself in vast creative pursuits and studying. He even studied human nature when he finished Psychology in college.

Combined, Cacnio’s years of exploring ingenious endeavors have enabled him to continuously share vivid scenarios, musicality, and performative sensations through his art.

More information on the exhibit can be found via infor@ artebettina.com or 0915-3593746.

ZIG Zag Stoel,

DCW, 1945, Charles Ray Eames

MAGNA

ExecutiveViews

VISIONARY BUILDER

By Leony R. Garcia

ANEIGHBORHOOD might have numer ous examples of beautiful architecture.

But is it safe, well-lit, and convenient for walkers, cyclists, and people who prefer public transportation?

A house might be attractive, but is it healthy to live in? And who decides what’s healthy for the occupants including the se niors who want to spend their twilight years in their homes?

T he scope of concerns keeps growing: People need better homes, professional spaces, communities, and whole cities and adapting to the changing way that people want to work, live and play.

Furthermore, with the world slowly adapting to life in a pandemic, architecture is being called upon to reshape our spaces as people look optimistically ahead to a post-pandemic world. In fact, the ongoing industry discussion includes what the postpandemic school or a ‘safe’ office looks like. The topics range from education, workspace, community, construction, housing, and any thing that the last two years pandemic and challenges have touched and transformed.

Architects to the rescue Architects help shape the health, safety, and welfare of society. Much more than design ing buildings or whole communities, archi tects have a more significant task. They’re uniquely positioned to improve life on nu merous levels for professional clients, cit ies, and private individuals. Health, safety, and welfare are always at the forefront of this industry.

B eing an architect is more than just drawing and building. The architect designs, plans, and develops concepts to create con struction plans and technical documents based on client requirements and ideas. He researches, programs, and adminis ters building projects for clients, apply ing knowledge of architectural design, construction detailing construction proce dures, zoning, building codes, and build ing materials and systems.

Visionary builder

Arch. Antonio ‘Toti’ Turalba, Jr. is the secondgeneration owner of the Active Group of Companies — which includes the Turalba family’s Active Realty and Development Cor poration (ARDC) -- which was tasked to as sess and develop the land where the famed Mount Malarayat Golf and Country Club is located.

“

It was an old poultry farm. When the property was shown to us, we thought it to be good as a golf course,” shared Toti who is now President and CEO of Active Realty and a director of Malarayat.

It was more of the land lent itself for it to become a golf course with the mountain in the background, the rugged terrain. The correct soil, and of course, great weather. We respected the terrain.”

And the project came to be in 1998.

“ When we are asked to do something with a property, we do not come in think ing—ah, we should do a condominium, a golf course, or what not. We always make it a point to look at what the land gives us,” Toti stressed.

After Malarayat, Toti found a beach property in Laiya, San Juan, Batangas, and turned it into Porto Laiya, a coastal lifestyle that merges with contemporary pleasures.

Porto Laiya is a gated beach enclave made distinctive with landscaping, breath taking water views, and carefree home sites. All are thoughtfully placed among lush trees, exclusive facilities and ameni ties, and relaxing activities in a whitesand seaside setting.

L ike Lipa, Laiya wasn’t known at that time. Today, Laiya's white sand beach, be ing the nearest in the Metro, is well visited by both local and foreign tourists. Moreover, many OFW Batanguenos and investors have bought lots at Laiya for their vacation and recreational pleasure.

To complete the trifecta of Active Group Batangas properties, Toti ventured into an other development -- the Mozzafiato in Balete, Batangas – a lakeside living inspired by his trips to Italy: a project with residential subdivision, a commercial area, and a marina.

This property lent itself to what saw in Italy. Truly breathtaking, Mozzafiato is purely my own brainchild, a boating lifestyle where Taal Lake provides the recreational venue for a variety of watersport activities.

"Balete is just a 10-15 minutes exit from Malarayat. Mozzafiato shall place Balete on the map. Just like what Malarayat Golf & Country Club did to Lipa," Toti added.

Always strive to do better

The Active Group doesn’t seem to stop mov ing from one grand project to another.

“ Here, I don’t want to direct anyone. I guess the inspiration is to inspire people to do the best that they can do. I don’t like this mentality of “pwede na yan.” I am chal lenging everyone here to do their best then we will support them. We will provide the

means in everything that they do,” Toti said That’s why I’m fixing the office physi cally to improve the working conditions of my staff. Active is 50 years old. I’ve seen com panies in their 50s that are run irrelevantly by 70-year-olds.

I don’t want that to happen to Active,” Toti added.

He said his objective now is to build a good and growing team for the company that

was started by his parents, who, arguably, have built a good foundation.

I guess when I took over, it’s time to make a team. My role as a second-generation guy is far from a monarch type of manage ment rather, it is to form a diversified team with the 1st, 2nd, 3rd, 4th, and 5th genera tions running and growing the company.

Part of the dream team would definitely

be his son, Juha, who recently came back from the US for good and who is now part of the prod uct development, sales, and marketing team.

An aeronautical engineer, Juha stayed in the States for about 10 years where he studied and worked for quite a while.

“ Nothing beats experience, you just have to come and learn. There’s no school to being successful in real estate,” Toti re marked on his sons’ journey.

Toti believes his dream team is already there just waiting for the right time when it’s needed. Right now, his focus is on improving the existing properties and the completion of Mozzafiato.

“ We still have development and sev eral expansion plans for the properties. We have the ongoing condominium project at Malarayat and eventually we’ll be putting up luxury condominiums with a minimum of 2 bedrooms in the next 2 or 3 years. Our target market would be for more foreigners and ex pats to retire in the country,” he said.

M eanwhile, with the ongoing construc tion of the residential subdivision for Mozza fiato, and with its boat club ready for anyone who loves the boating lifestyle, Toti sees es tablishing hotels and condominiums as well in the near future.

Mozzafiato Phase 1 is almost going to be complete by the end of the year. We fin ished the boat club during the pandemic. The next 3-4 years would be devoted to finishing the whole Mozzafiato project. The marina and the whole commercial area is an exten sive development,” he said.

Building communitiesand more

In five years, Toti sees the completion of Ac tive Group’s trifecta of Batangas projects for active and leisure-living. Is there anything else, he wants to do? To learn more about the real estate industry, Toti is currently enrolled at Harvard.

I’m going back to the States to get back to school. I did a 6 weeks course at Har vard for real estate. Basically, I’m learning to do how to make things better or how to make things different,” he said.

But aside from the Batangas trifecta of leisure communities, among his current homework includes the Tago Island in the province of Iloilo.

I got 500 hectares. Right now, I can’t formulate what to do about it. I’m going to present in school and it’s big. I would need partners for this project,” he said.

Toti revealed that there are still several projects in Batangas, and some in Antipolo.

We will also continue to build qual ity development focusing namely on not too big projects. Like a possible future development in Rosario for example. With this, we could build more exclu sively for smaller towns depending on the capacity of each area. believe, people would love to stay in their mu nicipalities or town if they are nicer -maganda ang kalsada, may guard, nakabakod, may ilaw -- that’s the niche market I want for all towns and municipalities.

“ That’s the market I’m looking to cater to for our expansions all over Batangas, Laguna, and surrounding provinces. In re sponse to the COVID years, smaller, more exclusive, and easier to manage commu nities are better than 100- hectare com munities. My recent project will complete about 5 smaller communities, smaller cuts but quality development exclusive to that segment and that’s something we're pur suing,” Toti explained.

With smaller projects like this, Toti said quality should not suffer.

I believe quality is not exclusive to people who can pay. The size of what you’re paying is the size of the quality. Maybe the size is smaller but the quality is the same and that’s what I believe we should be offering to the market,” he said.

S o how did the architect find his calling to be a builder and a developer?

The architect side of me feels like I want to create something new. I always have this quest to do something different. That’s how I operate. I don’t want to be stagnant, the only constant in this world is changing. It keeps me challenged to wake up the next day. Because if everything’s the same it’s bor ing. If you want to challenge yourself and you did great, you can be better,” he concluded.

I believe quality is not exclusive to people who can pay. The size of what you’re paying is the size of the quality. Maybe the size is smaller but the quality is the same and that’s what I believe we should be offering to the market”