DESPITE the 6.1-percent inflation rate posted in September, Moody’s Analytics does not expect the Monetary Board to raise interest rates in its next meeting in November.
L ast week, the Philippine Statistics Authority (PSA) reported that rice prices, which posted a 17.9-percent increase and was the highest in 14 years, was among the major contributors to higher inflation. (Full story here: https:// businessmirror com.ph/2023/10/06/septemberinflation-rises-to-6-1-rice-pricesblamed/)
Given this, Moody’s Analytics said “it looks increasingly unlikely” that inflation will fall within the 2 to 4 percent target set by the Bangko Sentral ng Pilipinas (BSP) with the fourth quarter of this year.
BSP’s monetary policy meeting in November will be one to watch. Monetary Board members will have the benefit of September-quarter GDP results and the October inflation print before having to make their decision. We expect them to leave the policy rate at 6.25 percent,” Moody’s Analytics said.
I n a weekly preview, Moody’s Analytics said the high inflation in September was also due to the decision of the Manila Electric Co. to increase
electricity prices. This was on the back of the global increase in energy prices.
“ The reading was much stronger than our and the market consensus forecasts of 5.2 percent and 5.3 percent, respectively, and was at the top end of Bangko Sentral ng Pilipinas’ expected range for the month of 5.3 percent to 6.1 percent,” Moody’s Analytics said.
M eanwhile, ANZ Research said there is little room for monetary easing in Asia, including in the Philippines. The region’s central banks may be prompted to move in lock-step with the United States Federal Reserve.
E arlier, the Philippines’ monetary authorities said the US Federal Reserve’s actions are of less concern to
the decision of the Monetary Board to raise, maintain, or cut rates. (Full story: https:// businessmirror com.ph/2023/09/22/bsp-chiefhints-at-possible-rate-hikes-untilnext-year/)
B SP Governor Eli M. Remolona Jr. said the Monetary Board’s primary consideration was the increase in fares and electricity rates, as these could add 0.5 percent to the inflation forecast of the BSP, especially in 2024.
“ While Asia’s monetary policy settings are suitable for periods of benign growth-inflation dynamics, the region’s central banks have little room to move away from the Fed’s path,” ANZ, however, said.
THE Philippines’s self-sufficiency ratio (SSR) in rice fell to 77 percent in 2022, the lowest in more than two decades, as the country remained as one of the world’s largest importers of the staple.
L atest data released by the Philippine Statistics Authority (PSA) showed that the country’s rice SSR last year was lower than the 81.5 percent level recorded in 2021.
H istorical PSA data showed that last year’s rice SSR was the lowest in 24 years or since 1998, when it settled at 72.1 percent. This is the third time, since 1988, that the country’s rice SSR was below 80 percent. T he PSA defines SSR as the extent to which the country’s domestic production can meet its domestic requirement.
“A ratio of less than 100 percent indicates inadequacy of food production to cope with the demand of the population,” the PSA said. “The higher the ratio, the greater the self-sufficiency.”
Danilo V. Fausto, President of the Philippine Chamber of Agriculture and Food Inc. (PCAFI), said the country’s latest rice SSR figure is “very disheartening.”
“ We are struggling very hard to increase our production, our sufficiency and productivity. We are pushed back by recommendations that give incentives to importers than to producers,” Fausto told the BusinessMirror in an interview.
“ If these tariff reductions push through, we can expect that our self-sufficiency would not just be 77 percent but will be below the passing grade of 75 percent. Hindi lang tayo bagsak, kung hindi repeater na,” he added.
T he country’s milled rice output last year fell slightly to 12.921 million metric tons (MMT) from the record-level of 13.054 MMT registered in 2021, according to the PSA.
D uring the same year, the Philippines’s rice imports surged to a record 3.863 MMT, about 30 percent higher than the 2.967 MMT it imported in 2021, PSA data showed.
BUSINESS groups are opposing a proposal by the Securities and Exchange Commission (SEC) to increase its fees and charges such as on total indebtedness, saying the increased cost of doing business will also hurt small and medium enterprises,among others.
I n a joint statement issued October 2,2023 but distributed to media on Monday, business groups penned a letter to SEC Chairman and CEO Emilio B. Aquino, to voice their objections to such proposal.
T he objectors are: the Philippine Chamber of Commerce and Industry (PCCI), Federation of Filipino Chinese Chambers of Commerce and Industry Inc., Philippine Exporters Confederation Inc. (Phil -
export), Employers Confederation of the Philippines (Ecop), Management Association of the Philippines (MAP), Chamber of Thrift Banks, Philippine Retailers Association, Philippine Franchise Association (PFA), Philippine Food Processors and Exporters Organization Inc., Philippine Association of Legitimate Service Contractors and Stratbase ADR Institute for Strategic and International Studies.
C iting Administrative Order No. 31,s. 2012 and DOF-DBMNEDA Joint Circular No. 1-2013 in relation to fixing regulatory fees, the business groups said national government agencies should seek to strike a balance between cost recovery and the socioeconomic impact of the impositions.
“Any increase in fees must be just and reasonable and minimize, if not avoid, the unintended impact
on established national priorities and the general public,” the business groups said.
T hey stressed that when the SEC increased its fees in 2017, stakeholders were able to show that the fees being collected by the SEC from stock market transactions alone were more than enough to fund SEC’s entire operations based on SEC’s requested appropriations from the General Appropriation Act (GAA), which budget “presumably” is the cost of regulations.
“ This does not yet include the myriad of other fees SEC charges to new and existing companies for various corporate actions and document requirements,” the business groups said.
Moreover, they said the current fee collections of SEC “already far exceed” the cost of its operations. The business groups said this is
THE Climate Change Commission (CCC) is eyeing to sign a new bilateral agreement with Qatar to help boost the adaptation and mitigation measures of local government units (LGU).
We are working closely with Qatar in line with President Marcos’s vision to address the climate crisis through collaboration with the international community. Qatar’s expertise and support can greatly benefit the Philippines to adapt to and mitigate the impacts of climate change,” CCC Vice Chairperson and Executive Director Robert E.A. Borje said in a statement on Monday. B orje met with Qatar’s Ambassador to the Philippines Ahmed Saad N. Al- Homidi to discuss the proposed partnership.
T hey talked about the possible technical assistance and policy development, particularly in areas under the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
A mbassador Al-Homidi said Qatar is open to exploring such cooperation with the Philippines.
evident in the purchase of its own building in Makati CBD reportedly costing about P2.5 billion, in addition to about 90 commercial parking slots estimated at about P1 million per slot.
“ While we appreciate the effort to streamline SEC processes when the Commission offered IT services such as the CIFFS eSearch Facility to enable the public to purchase and download digital copies of documents submitted to the SEC, there is serious concern on the cost,” the business groups said in a statement on Monday.
Under the previous downloading facility (i-View facility), users could download copies of GIS, AFS, and other SEC filings for only P0.50 per page. However, when SEC launched the CIFFS eSearch Facility on August 1, 2023, its charges went up
“Our countries are working on signing a Memorandum of Understanding that will benefit both of us and serve as a catalyst for more bilateral partnerships,” the Qatari diplomat said at the meeting. B orje also invited Qatar to become a member of its Empowering Nurtured Alliance for Climate Action and Transformation (ENACT) initiative.
E NACT is CCC’s coordination mechanism with its development partners and embassies to facilitate regular dialogue for exchanging best practices on climate-related issues.
CCC has been pushing for local government units to complete their Local Climate Change Action Plan (LCCAP) to mitigate or minimize the impact of high global temperatures, which are expected to bring in more extreme weather.
It reported 85.95 percent 1,474 of the 1,715 LGUs nationwide already submitted their LCCAPs as of last August.
FOLLOWING revelations of the alleged multimillionpeso corruption at the Land Transportation Franchising and Regulatory Board (LTFRB), President Ferdinand R. Marcos Jr. on Monday ordered the suspension of the board’s chairman, Teofilo Guadiz III.
groups claimed.
I n a brief statement, the Presidential Communication Office (PCO) said the chief executive instructed the concerned agencies to probe the matter.
The President does not tolerate any misconduct in his administration and has instructed the immediate investigation of this matter. He strongly condemns dishonesty and duplicity in public service,” PCO said.
The Palace issued the statement after former LTFRB executive assistant Jeffrey Gallos Tumbado disclosed the supposed bribery within the agency and in Malacañang by some parties to secure their routes, special permits, and route modification.
Tumbado said he learned of the said practices first hand, when he
“astronomically” from P0.50 per page to anywhere from P1,000 to P2,000, depending on the document being downloaded, the business groups said.
“ Given this exorbitant amount of increase, it is clear that instead of charging for cost recovery in delivering this basic service to its stakeholders, the SEC wants to make this eSearch Facility a flourishing money-making activity,” the
C iting the SEC advisory posted on its website, seeking comments on the revised schedule of SEC fees and charges—issued last August 1, 2023—the business groups noted that SEC now proposes to charge corporate Issuers 1/4 of 1 percent of the total indebtedness. Using 2022 numbers, they noted, SEC’s fees would amount to P1.27 billion on the total bond issuances of P508 billion for that year.
M oreover, the business groups said SEC also proposes to impose a fee on the total transactions cleared and settled in the previ -
ous year by Securities Clearing Corporation of the Philippines (SCCP) and Philippine Depository Trust Corporation (PDTC) in the amount of 0.1 basis point and 0.05 basis point, respectively.
B ased on 2022 transactions, the business groups said this would amount to P14.51 million and P7.25 million of additional friction cost for stock market investors.
T hey said these will serve as a huge burden to SEC’s stakeholders. Fees that far exceed the costs of regulation are “beyond the authority and power of SEC to impose,” they reminded the regulator.
was required supposedly by Guadiz to facilitate the llegal practice.
T he former LTFRB official said he will be revealing the other details of the transactions in the case he will file at the Ombudsman.
I n a statement, LTFRB said Guadiz is ready to face the allegations.
As of this morning, I was at my office and I do not know any official [complaint] against me, but if there is, I am ready to face it because my conscience is clean,” the LTFRB chief said in Filipino. He also urged the public to coordinate with his office if they become victims of such corrupt practices within the LTFRB.
We will continue to fix and ensure we will remain fair in the service we providetoourstakeholder,”Guadizsaid.
“ If the purpose is regulatory— and not revenue generation—then the test of reasonableness vis-à-vis costs to regulate should be met in order to increase the processing fees of SEC,” the groups said, adding that this standard has not been met by the SEC’s proposed fee increases under the guise of regulation.
Moreover, the groups said, “The current fee proposal by the SEC is even higher than the relevant fees struck down by the Supreme Court in the above-referenced First Philippine Holdings Corp. case to 1/4 of 1% [25 basis points] of the authorized capital stock but not less than P2,500.00 or the subscription price of the subscribed capital stock, whichever is higher.”
M eanwhile, they said, the increased cost of doing business will also hurt small and medium enterprises covered by SEC due to the “ripple effects” of the fee increases.
T hey rued that while the President and his economic team are “actively wooing new investors and struggling to maintain existing ones,” it seems SEC is doing exactly the opposite by proposing “unnecessary and unconscionable” increases in fees.
We cannot help but feel that SEC is operating on its own and is not aligned with this thrust of the current administration,” the groups said.
Moving forward, the groups recommended that SEC submit this proposed policy to the Anti-Red Tape Authority (Arta) for a Regulatory Impact Assessment (RIA) to check against “harmful impacts” to business and the economy.
We likewise raise the need for exhaustive stakeholder consultation prior to the RIA as part of the regulatory process and due diligence on the part of SEC,” the groups said.
T hey urged SEC to review, if not totally scrap, this proposal.
B ased on the data, ANZ said the Philippines and Indonesia have the weakest positions relative to their peers in terms of external position such as foreign direct investment (FDI) and portfolio inflows.
However, Thailand, India, and the Philippines scored high in terms of both dollar reserves coverage and potential cross-border outflows during periods of stress.
A NZ said relative to its peers, the country is not doing well in terms of its fiscal and public finances, compared to the average in emerging economies.
T he data showed the country’s budget balance as a percentage of GDP at -6.1 percent, compared to emerging economies’ -2.8 percent; government revenue as a percentage of GDP at 21 percent when the region’s average is 25.6; and interest payment as a percent of revenues at 14 percent, when the average among its peers is at 4.5 percent.
W ith such volume, the Philippines remained as the world’s second-biggest buyer of rice behind China, which imported 6.155 MMT of rice last year.
‘Check the formula’
HOWEVER , Agriculture Undersecretary for Rice Industry Development Leocadio S. Sebastian said it is important to check the formula used by the PSA in calculating the rice SSR.
S ebastian pointed out that the PSA’s formula takes into account importation as part of the country’s overall supply base and does not consider the local demand in a given year.
T he PSA’s formula for SSR in any commodity is as follows: local production divided by the total supply (production plus imports minus exports) multiplied by 100 percent. Hence, if you have more rice imports, the rice sufficiency will go down. The formula is not local production minus exports divided by local demand,” Sebastian told the BusinessMirror P undits, including former agriculture secretaries, and industry stakeholders have criticized the PSA’s SSR formula in the past, arguing that it does not provide a “more realistic picture” of the country’s rice supply situation. (Related story: https:// businessmirror com.ph/2018/11/01/rice-selfsufficiency-ratio-slid-to-93-44percent-in-2017-psa/)
T hey said that as long as the Philippines imports rice, then its SSR will never hit 100 percent, since, mathematically speaking, imports form part of the denominator of the formula. (Related story: https:// businessmirror .com.ph/2021/11/17/phlrice-self-sufficiency-rate-hits85-in-2020-report/)
PSA standards
HOWEVER , Sebastian noted that the PSA is following “certain standards” that is why it uses such a formula for calculating the SSR. The PSA adopted the Food and Agriculture Organization’s formula and definition for SSR.
“As such we should be aware of their formula, considering that rice importation is liberalized which means, our imports are not just determined by our deficit but also by local and international market situation,” Sebastian said.
H e disclosed that the agriculture department is using an alternative formula that measures the level of rice supply in relation to the country’s demand to “monitor” how the country is “progressing in terms of sufficiency level.”
Using this alternative formula, Sebastian answered in the affirmative when asked if the country’s rice SSR last year was higher than 77 percent.
change
ATENEO de Manila University (ADMU) economist Leonardo Lanzona told the BusinessMirror that if an SSR of 77 percent is the best the country can do, it is fair for the country to consider importing the rest of the Philippines’s needs for the staple.
“ We don’t want to be placed in a situation where the costs are much greater [than the] benefits obtained from trying to reach selfsufficiency. If 77 percent is [the] best we can do, without incurring too much cost, then the rest can be imported,” Lanzona said.
We need to consider all of the sectors, making sure that the net benefits in various agricultural outputs are maximized given the constraints that we face,” he added.
T he decline in the SSR, Lanzona said, may have been caused by climate change and other “uncontrollable factors.” This may also reflect the lack of efficiency in the current administration.
“ The ratio should be the least of
our concerns. The important thing is [to] assess the benefits from raising the ratio in relation to their costs,” Lanzona said.
Buffer stock is key PHILIPPINE Institute for Development Studies (PIDS) Senior Fellow Roehlano Briones said the decline of the SSR to 77 percent as of 2022 is not worrisome as long as the country has a buffer stock.
T he decrease in the SSR last year, Briones said, may have been due to the damage to local rice supply following typhoons as well the higher rice prices globally. Given this, it is possible that the country’s SSR will increase in 2023.
[I am] not worried as long as we have sufficient buffer stocks. SSR not an important indicator,” Briones told the BusinessMirror on Monday.
Meanwhile, University of the Philippines Los Baños economist Luisito C. Abueg said in a phone interview that with the 77 percent SSR and the recent imposition of the price cap, the SSR could further decline this year.
T his may be possible if, given the price caps, farmers were discouraged from planting, thereby reducing the level of rice production. This is natural for farmers, he said, given that they also need to earn.
A nother scenario that could lead to a lower SSR this year may be the decision of some traders to hold on to their stocks of good rice varieties to escape the price cap. This may also lead to a lower SSR, which is the level of supply versus the country’s demand, this year.
A bueg also said El Niño, which is expected to be longer than usual, could also lead to a lower SSR this year. “[There are estimates] that the El Niño will affect one planting season and that would possibly contribute to the [lowering of the SSR].”
W hile any shortfall can be plugged by importation, Abueg said that based on recent experience, the importation of rice has not led to any decrease in prices. The theory is, if there are more imports, there is more supply, and this would reduce prices but this did not happen as rice prices remained expensive.
Road to 100 percent?
IN a recent Senate hearing, Sebastian revealed that the country would need to produce at least 24 MMT of palay to hit the 100-percent SSR.
T he volume would translate to some 15.696 MMT of rice, based on a 65.4-percent milling recovery rate used by the PSA and the Department of Agriculture (DA).
I n April, the DA said it aims to achieve 100 percent self-sufficiency by 2027 through its Masagana Rice Program (MRP) 2023-2028, which seeks to group local farmers into rice clusters to achieve economies of scale.
Under the MRP, the agriculture department targets to improve local palay production to as much as 26.86 MMT.
“
To achieve the stated goals, the DA shall implement four key strategies: climate change adaptation, farm clustering and consolidation to promote convergence of interventions; value chain approach; and digital transformation of the Philippine rice industry,” the DA said.
H owever, in June, President Marcos Jr., concurrent agriculture chief, revised the department’s rice SSR target to just 97 percent under his watch.
“ You do not have to really go to 100 percent because the 3 percent are those niche products like organic or special grain like Japanese rice,” Marcos said, speaking partly in Filipino.
“But with the 97 percent [rice sufficiency], we can say we can feed our citizens sufficient rice,” he added.
THE House Committee on Dangerous Drugs on Monday decided to summon the owner of the warehouse in Mexico town, Pampanga, where law enforcement agencies seized 530 kilograms of shabu valued at P3.6 billion last month.
This decision was made following a motion and suggestion by Antipolo City Rep. Romeo Acop and Surigao del Sur Rep. Johnny Pimentel, respectively.
“We just want to know, [former] Mayor [Teddy] Tumang, please don’t take offense. We just want to ascertain the facts. This is the second incident in Pampanga, in Mexico town, and it’s one of the biggest drug busts. While we’re not accusing anyone, Mayor Tumang, we want to find out if local officials were involved in the drug bust,” Pimentel said.
“I can see, Mr. Chair, that it seems the municipality of Mexico was very much aware of Mr. Willy Ong’s activities, starting from the barangay level up to the municipality. Roy Gomez, Mr. Chair, is a close confidant of Mayor Tumang, as Mayor Tumang approved the building permit and occupancy permit. According to their statements, they had several conversations, both with Kapitan [San Jose Malino Barangay Chairman Ramonito] Bautista and Mayor Tumang,” he added.
For his part, Barbers, who initiated the hearing on the shabu confiscation in Mexico, stated, “There is a motion, duly seconded, to invite Mr. Willy Ong to the upcoming committee hearings. We direct the committee secretary to issue a subpoena upon approval from the Office of the Speaker for Mr. Ong.”
“The procedure is that we will issue an invitation, and if the invitation is not
honored, the committee is compelled to issue a subpoena. In this case, we issued an invitation to Mr. Willy Ong and Mr. Roy Gomez, but there was no acknowledgment on their part. Therefore, the committee would seek the approval of the Office of the Speaker to issue a subpoena to the said personalities,” Barbers said.
Acop also moved to subpoena Subic Bay Metropolitan Authority (SBMA) chairman and administrator Jonathan D. Tan.
Ong is reportedly a businessman from Nueva Ecija, while Gomez, a coterminus employee of former Mayor Tumang, was reportedly dismissed by the Office of the Ombudsman in connection with a supposed graft case.
During Tumang’s tenure, Ong obtained a building permit and occupancy permit for his warehouse in Barangay San Jose Malino, Mexico.
Tumang revealed that he had met with Ong and discussed the warehouse project when Ong applied for the building permit.
The committee’s next hearing will also include Tan, who did not attend Monday’s hearing.
The 530 kilograms of shabu entered the country through the SBMA port before being transported to Barangay San Jose Malino.
The committee later received a closed-door briefing on the shipment’s details and its seizure by officials from the National Bureau of Investigation (NBI), Philippine Drug Enforcement Agency (PDEA), and Bureau of Customs (BOC).
This House inquiry was initiated by House resolutions filed by Senior Deputy Speaker and Pampanga 3rd District Rep. Aurelio Gonzales Jr. and Zambales Rep. Jeffrey Konghun. Jovee Marie N. Dela Cruz
SEVEN Filipino workers in Israel are missing, while 22 others were rescued when Hamas militants attacked the border south of Israel, the Department of Foreign Affairs (DFA) reported on Monday.
The Philippine Embassy in TelAviv, meanwhile, advised Filipino tourists and pilgrims to postpone travel to Israel following the ongoing war between Israel and Hamas militants.
“In view of the volatile security situation in Israel, Post issued a travel advisory recommending that all travel from the Philippines to Israel be postponed indefinitely, or until such time that the situation has stabilized,” the DFA said.
Filipinos normally can travel to Israel visa-free. This year, the number of Filipino visitors to Israel has reached 20,000.
The Ben Gurion International Airport is still open, but some commercial airlines have suspended direct flights due to missile bombardments from both sides.
Missing
DFA spokesperson Ma. Teresita Daza said one of the missing OFWs was identified by the wife in a viral photograph on Twitter allegedly taken as hostage.
On the other side of the war zone, 25 Filipinos in Hamas-controlled Gaza Strip have requested for evacuation. Kidnapped?
THE DFA was careful in classifying that the Filipino in the viral photo was indeed kidnapped.
“One Filipina from the Philippines reached out to the (Philippine)
CONSUMER advocacy group
CitizenWatch Philippines on Monday urged the government to form an alliance with the private sector to be able to establish a strong cybersecurity posture to protect the country’s critical infrastructure sector from cyberattacks.
“The country’s critical infrastructure sectors must be adequately and pro-actively protected against cyberattacks as the government aggressively pushes to accelerate the expansion and upgrade of digital infrastructure,” said Chistopher “Kit” Belmonte, coconvenor of CitizenWatch Philippines in a news statement.
Belmonte warned that critical infrastructure systems, such as energy, transportation, finance, water, food, agriculture, healthcare, and emergency response all rely on information and communications technology (ICT) to operate.
“Cyberattacks can cause disruptions that significantly impact public safety, security, economic stability, or
public health,” he pointed out.
“The PhilHealth ransomware incident is a painful reminder that cyberspace is never a space safe, because hackers and other nefarious actors threaten to negate our gains in transitioning into a digital economy,” Belmonte pointed out.
Failure to implement the necessary cybersecurity measures would provide a severe blow to the economy, according to Belmonte. “Cyber attacks have tangible costs—ransom paid, downtime, lack of productivity, the breach of personal information of millions, threats of exposure, not to mention the erosion of citizens’ confidence in our systems and institutions,” he pointed out.
The former lawmaker added that firms also have to bear the economic costs of repairing their infrastructure damaged by cyberattacks.
“Worse, cyberattacks on critical infrastructure by state or non-state actors can undermine national security and disrupt economic activity and our way of life.”
Embassy and said that she recognized her husband in one of the videos circulating in social media which shows a man being held by armed individuals, most likely brought to Gaza,” Daza said, quoting from the report from Ambassador to Tel-Aviv Pedro Laylo.
Netizens posted photos and videos on Twitter of Filipinos and Thai workers taken hostage by Hamas at the height of infiltration at the border.
Philippine Deputy Chief of Mission Anthony Mandap said he spoke with the wife of the Filipino in the photo and has coordinated with the Israeli authorities about this.
“Post cannot independently verify his identity based on the video alone but considers the report of the wife as important. We are also working with community contacts on his case,” Daza said in a statement.
The six other OFWs were reported missing by members of the Filipino community in Israel. They could not be contacted through their mobile number and social media accounts.
“The Embassy is working non-stop with Israeli security authorities and community contacts to ascertain their condition. We continue to await feedback from them,” Daza said. Rescued MANDAP also said 22 Filipinos were rescued and transferred to safer areas and housed in hotels.
Two of the Filipinos rescued were identified as Monica Biboso and Joey Pagsulingan.
Pagsulingan, a caregiver, sustained gunshot wounds in the arm. Mandap said the Hamas fighters stormed the house of his employer and he immediately ran inside the bomb shelter. When the Israel military came, he
able a digitally powered economy, Belmonte said.
won’t open the door for fear they were Hamas, forcing the Israelis to fire at the door and hit him.
Biboso, meanwhile, told the Philippine Embassy that Hamas terrorists torched her employer’s house. She suffered from smoke inhalation and was taken to the hospital for treatment.
The Philippine Labor Attaché and Welfare Officer who provided assistance and essential supplies have visited both.
Gaza
PHILIPPINE Ambassador to Jordan
Wilfredo Santos said Filipino spouses of Palestinians in Gaza have requested for repatriation.
In retaliation of Hamas’ missile attacks on Sunday, Israel has been bombarding Gaza and has deployed land troops along the border.
The Philippine Embassy in Amman has consular jurisdiction over Palestinian Authority, including Gaza.
There are 137 Filipinos in Gaza, most of whom are spouses of Palestinians.
Santos said he is coordinating with relevant authorities on securing safe passage for the 25 Filipino women and children.
Protect OFWs–Sen. Go
SENATOR Christopher Lawrence “Bong” Go has issued an urgent appeal to various government agencies, including the Department of Migrant Workers (DMW), DFA, and Philippine Overseas Employment Administration (POEA), to conduct immediate action to account OFWs affected by the ongoing conflict between Israel and Hamas in the Gaza Strip.
As Vice Chair of the Senate Committee on Migrant Workers, Go emphasized
the need for a swift and comprehensive inventory of affected OFWs, particularly those who may have been victims of violence. There is also a need to plan for their immediate repatriation when necessary.
“The safety of our kababayans is paramount. I urge the DMW, DFA, and POEA to act swiftly and ensure that every Filipino worker is accounted for,” said Go.
The senator also appealed to OFWs to ensure their safety by coordinating with the Philippine Embassy in Tel Aviv.
“I understand that many of you have built lives abroad, but your safety should always come first. Please coordinate with our embassy and avail yourselves of the government’s assistance,” Go advised.
According to a recent report by the Overseas Workers Welfare Administration (OWWA), around 200 OFWs based in the Gaza Strip are currently being monitored due to the conflict.
The Presidential Communications Office (PCO) has also released a statement on President Ferdinand R. Marcos Jr.’s directive to DMW and OWWA to locate and account for all OFWs and their families in Israel.
The government is also closely coordinating with the Philippine Embassy in Tel Aviv and the Migrant Workers Office (MWO) in Israel to ensure their safety and welfare.
Meanwhile, DMW has opened a hotline, as well as several mobile numbers, to accept calls and queries from OFWs and the Filipino community who are in need of government assistance. Go urged OFWs to make use of these channels to protect fellow Filipinos.
The senator is a long-time advocate of OFW welfare. He was one of the authors and co-sponsors of Republic Act No. 11641, which created the DMW.
“The DMW Act was designed to protect our OFWs. Now, more than ever, it’s time to put this law into action to protect our kababayans,” Go emphasized.
Belmonte said hackers are sophisticated criminals who are always trying to be one step ahead of organizations and institutions, so the challenge is to arm ourselves, individually and collectively, for better protection.
Belmonte stressed that practicing cyber hygiene would be a good step in the fight against hacking. “Sometimes it could be as simple as good housekeeping, ensuring our antivirus tools are updated and paid for. It could also be the constant education of our users to prevent them from falling prey to social engineering schemes,” he said.
“Through AI [artificial intelligence], attacks could now read and sound like real persons, specifically persons that an unsuspecting user knows and trusts.”
He said budget allocations toward digital transformation, which is a stated priority of this administration, would be futile if not complemented by an equally strong cybersecurity stance that would ensure a safe and trusted cyberspace that would en -
DESPITE the country’s focus on external defense, Department of National Defense (DND) Secretary Gilberto “Gibo” C. Teodoro Jr. over the weekend reiterated that internal security is still a priority for the country.
The defense chief made this comment during the ceremonial opening of the Assistance for Security, Peace, Integration and Recovery for Advancing Human Security (ASPIRE) in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) project at the Kasinnahan Hotel and Resort last October 5.
The ASPIRE project is a proactive and innovative way of reducing the proliferation of illegal weapons in society, as one of the mandates of the current administration is
the safeguarding of the country’s internal security.
“Kaalinsabay ng ASPIRE project, kailangan ang police and military visibility to deter any form of aggression, para sa mga magsu -surrender, mararamdaman nila na safe sila [Aside from the ASPIRE project, police and military visibility is needed to deter any form of aggression, for those surrendering, so that they can feel safe],” Teodoro noted.
The DND chief also highlighted the recent achievement of the Western Mindanao Command where six members of the Abu Sayyaf Group (ASG) and eight supporters surrendered along with 13 high-powered weapons.
ASPIRE aims to promote the decommissioning and normalization of the Bangsamoro peace process by
reducing small arms and light weapons (SALWs) in the region.
It also aims to provide livelihood support to former combatants and members of private armed groups, as well as raise awareness on the negative effects of possessing SALWs.
The ASPIRE Project started in September 2022, when the Japanese government signed a $5 million (P285 million) grant.
The project is implemented by the United Nations Development Program (UNDP), in consultation with the Office of the Presidential Adviser on Peace, Reconciliation, and Unity (OPAPRU); the Moro Islamic Liberation Front (MILF); and the Joint Normalization Committee (JNC).
Teodoro also expressed his gratitude
“As the country evolves into a digital nation, hackers are also becoming more sophisticated in their efforts to put one over Internet users, gain access to their private information, profit from them, or even endanger them.”
In 2021, local organizations hit by ransomware paid an average of $1.6 million, double the payments made in 2020. This was also twice the global average of about $812,000 in 2021. A separate cost rectifying the impact of such attacks came up to $1.34 million—representing down time, people time, device cost, network cost, and lost opportunity.
“These numbers tell us that thinking that we could go about safely on the Internet would be naive and detrimental to us and our organizations,” said Belmonte.
Meanwhile, Palo Alto Networks reported that ransomware and extortion cases in the Philippines increased by 57.4 percent in 2022 across key sectors.
In these instances, threat actors used aggressive tactics to exert pressure on targeted organizations, and harassment was involved 20 times more often than in 2021, according to incident report cases of Unit 42. Rizal Raoul S. Reyes
to the Japanese government for being a resolute partner in making the Philippines a strong and resilient country, both internally and externally, adding that programs such as ASPIRE intend to harden the country’s integrity in order to face external challenges.
“Japan and the Philippines, alongside other like-minded nations, enforce the rule of international law and rules-based global international orders,” the DND chief said.
The defense chief then encouraged the citizens of Basilan to protect their hard-earned peace, as there are many groups who are trying to wreak havoc.
“I thank the BARMM for being proactive in engaging with the national government to solidify our processes of governance, so that the threats to national security are eliminated,” Teodoro said. Rex Anthony Naval
THE Philippines and Australia are planning to expand their bilateral defense cooperation with holding of joint exercises in the West Philippine Sea (WPS).
Foreign Affairs Secretary Enrique Manalo is now in Adelaide, Australia for a ministerial meeting with Australian Foreign Minister Penny Wong to discuss strategies on implementing the newly elevated “strategic partnership” between Manila and Canberra.
“We are expanding maritime cooperation across policy-planning, practical engagement and capacity-building activities through combined maritime activities in the South China Sea,” Manalo said in his remarks at a forum of Australian Institute of International Affairs of the University of Adelaide.
Last month, 1,200 Australian troops participated in the first bilateral amphibious drill called “Exercise Alon” in Palawan, Zambales and Sulu Sea. Australian warship HMAS Canberra and MV-22B Ospreys were deployed to the Philippines for the month-long exercises.
The bilateral meeting between Manalo and Wong came a month after the visit of Australian Prime Minister Anthony Albanese to Manila. During the visit, Albanese and President Ferdinand R. Marcos Jr. agreed to elevate the bilateral relationship into a “strategic partnership.”
Australia is the Philippines’ second largest defense security partner, next to the United States. Like the US, Australia has a status of forces agreement with the Philippines.
Aside from Exercise Alon, Australian Deputy Prime Minister and Defense Minister Richard Marles visited the Philippines twice this year. Philippine and Australian defense ministers also agreed to convene meetings every year starting 2024.
Australian foreign minister Wong likewise pledged to upgrade the capacities of Philippine Coast Guard.
Australia is also vocal on its support to the Arbitral Award on the South China
Sea, which invalidated China’s expansive nine-dash line claim.
“ The Philippines is prepared to play its part in such a new vigorous period in our defense and security partnership with Australia, not to confront nor provoke, but to honor our commitment to our people for the protection of our sovereignty, territorial integrity and regional stability,” Manalo said.
Last August, US, Australia, Japan and the Philippines carried out a joint exercise in the waters off Manila.
‘Dawn Caracha ’23’ drill WITH terrorism still a major security concern worldwide, Philippine Army (PA) special operations forces, along with their Australian Defense Force (ADF) counterparts, will be conducting counter terrorism operations and related exercises from October 16 to 27 at the Western Command (Wescom)’s joint operations area.
In a Facebook post Sunday, Wescom said the bilateral exercise called “Dawn Caracha 2023” seeks to enhance the cooperation and interoperability of the two special operations forces of the PA and ADF.
“Scheduled from October 16 to October 27 in El Nido, [Palawan] the exercise will primarily focus on conducting counterterrorism operations and special operations, showcasing the capabilities of the two forces,” it added.
Wescom said preparations for Dawn Caracha 2023 started on October 7 as PA special operations forces pre-exercise movements and operational briefings. The exercise presents an opportunity for both units to showcase their skills, strengthen their partnership, and foster increased collaboration.
By emphasizing interoperability and joint efforts within the Wescom’s operational area, the exercise aims to enhance collaboration in tackling complex security challenges in the country’s western front.
“Furthermore, Dawn Caracha 2023 will also definitely contribute to regional security and foster closer cooperation between the Philippines and Australia,” Wescom stressed.
OIL firms announced Monday a “big-time” oil price rollback that will take effect on Tuesday morning. Gasoline and diesel prices will be slashed by P3.05 per liter and P3 per liter, respectively. The per liter price of kerosene, meanwhile, will be reduced by P2.45 per liter. The downward price adjustment takes effect for most oil firms at 6
net increase of P15.30/liter for gasoline, P13.80/liter diesel and P8.94/liter for kerosene.
a.m. of October 10. This was announced by Seaoil, Shell, Caltex, Unioil, Total, Petron, Phoenix, and PTT. Cleanfuel, meanwhile, will implement the price rollback at 12:01 a.m.
This is the third consecutive week of price reduction for gasoline and kerosene.
Last October 3, oil companies implemented a decrease of P2/liter for gasoline and P0.50/liter for kerosene. Diesel has increased by P0.40/liter. These price adjustments resulted in a year-to-date
ASENIOR lawmaker on Monday questioned the decision of Energy Secretary Raphael Lotilla to abandon a two-year-old proposal to establish a strategic petroleum reserve (SPR), especially at a time when global oil prices are rising due to supply cuts by petroleum producers and a looming protracted Israel-Hamas war in the oil-producing Middle East.
Amid speculations that global oil prices could reach $100 per barrel in the coming months, Camarines Sur Rep. LRay Villafuerte, in a statement, expressed his dismay at the Department of Energy’s (DOE) decision to freeze the plan for an SPR.
According to Villafuerte, Lotilla argued that such a facility would be expensive,
would not directly lower fuel prices, and contradicts the government’s promotion of electric vehicles (EV).
Lotilla emphasized the DOE’s commitment to promoting EVs in line with Republic Act (RA) 11697, also known as “The Electric Vehicle Industry Development Act.” He pointed out that with the goal of achieving a 50 percent EV penetration by 2040, the demand for oil-based products would decrease significantly.
But Villafuerte, while supporting the transition to green energy, questioned the feasibility of achieving 50 percent EV penetration in the country by 2040.
H e believed that many Filipinos would not retire their gas or diesel vehicles immediately
Including this week’s price adjustment, the cumulative per liter increase of gasoline stood at P12.25 per liter, P11.35 per liter for diesel and P5.95 per liter for kerosene.
Based on DOE’s (Department of Energy) monitoring, last week’s trading level went down amid rising concerns on high interest rates, among others, that led to a drop in global fuel demand.
The agency reminded the public to manage their expectations that the trend for oil prices will continue to go down, saying the world oil prices are volatile.
upon acquiring EVs, considering the variety of vehicles on the road, including older ones.
He pointed out that while fuel prices had temporarily decreased, they had been rising for over two months prior to that and were expected to increase again due to ongoing supply cuts by Saudi Arabia and Russia, as well as the recent conflict in the Middle East.
Villafuerte said an SPR could directly affect retail prices because, with reserve stocks purchased at a time when global rates are relatively lower, the government can sell its fuel cheaper than the prevailing market rates when global prices are high.
Villafuerte also highlighted the importance of ensuring a stable fuel supply and noted that other countries have successfully implemented SPR programs to address supply disruptions and mitigate risks associated with fluctuating fuel prices.
The proposed SPR facility would be managed by the Philippine National Oil Company (PNOC), responsible for maintaining an adequate and stable supply of oil and petroleum products for domestic requirements.
Meanwhile, Villafuerte urged the DOE to reconsider its decision to abandon the SPR plan and stressed the need to protect consumers from the impact of rising fuel prices while promoting green energy and EVs.
Jovee Marie N. Dela Cruz By Henry J. SchumacherIWAS delighted to see the information in the B usiness M irror a few days ago, highlighting Payoneer unveiling an incubation scheme for small BPO firms. Seventy Filipino entrepreneurs stand to benefit from a specialized initiative that can help and guide them navigate the most challenging aspects of starting and running a business. The company said that its innovation-based entrepreneurship methodology is inspired by the Massachusetts Institute of Technology’s disciplined entrepreneurship concept.
Given the fact that Payoneer’s program is open to independent gig workers, freelance agencies and small to medium-sized IT-BPM firms, suggest that we have a look at what Incubation Schemes can do: Incubation schemes are designed to empower aspiring entrepreneurs; they provide crucial support, resources, and mentorship to help BPO companies thrive in an increasingly competitive market. What needs to be done:
1. Needs assessment and selection process:
n Conduct a comprehensive needs assessment to identify the most pressing challenges and requirements of small BPO companies.
n Establish clear selection criteria based on factors, such as business model, innovation potential, and commitment to ethical practices.
2. Infrastructure and workspace:
n Provide a conducive workspace with essential facilities like high-speed internet, meeting rooms, and collaborative spaces.
n Equip the incubator center with modern technology, including software licenses for BPO operations, CRM systems, and communication tools.
3. Mentorship and Advisory Support:
n Pair each incubatee with experienced mentors from the BPO industry who can provide guidance on business strategy, operations, and client acquisition.
n Arrange regular advisory sessions covering areas like financial planning, legal compliance, and strategic growth.
4. Access to capital and funding:
n Facilitate connections with investors, venture capitalists, and financial institutions that specialize in supporting BPO start-ups.
n Offer seed funding, grants, or low-interest loans to eligible incubatees, enabling them to cover initial operational costs.
5. Training and skill development:
n Conduct specialized training programs focusing on BPO-skills, including customer service, process optimization, and quality assurance.
n Organize workshops on soft skills, leadership, and management to cultivate a well-rounded entrepreneurial mindset.
6. Market research and client acquisition:
n Assist incubatees in conducting market research to identify target industries, client segments, and emerging trends.
THE deteriorating quality of jobs is concerning and “remains a pressing issue” in the Philippines due to the persistent trend of “endo” contractual jobs, according to labor group Federation of Freedom Workers (FFW).
According to the latest PSA data, 2.21 million Filipinos were classified as unemployed, with an additional 5.63 million underemployed individuals in August. (Related story: https://businessmirror.com.ph/2023/10/06/ phl-unemployment-rate-drops-in-august-but-psadata-show-uptick-in-poor-quality-jobs/)
“ The current state of contractualization and the lack of security of tenure not only undermine the welfare of our workers but also hinder economic growth and stability,” FFW President Sonny Matula told the B usiness M irror
According to Matula, the “disturbing” trend of contractual jobs is “not only persistent but proliferating,” worsening the concerns of Filipino workers.
National Statistician Clare Dennis S. Mapa said on Friday that self-employed workers increased by 1.89 million, while unpaid family workers increased by 1.85 million. However, there was only an 87,000 increase of salary and wage workers, considered as high quality jobs.
D espite the improvement since July’s figure of 2.27 million people unemployed, the quality of employment remains a pressing issue, said Matula.
“It is crucial to address the challenges posed by contractualization and labor-only contracting to ensure that our work force can thrive and contribute to the nation’s prosperity,” he added. Patrick V. Miguel
n Facilitate networking events, trade shows, and pitch sessions to connect small BPO companies with potential clients.
7. Legal and regulatory compliance:
n Provide legal counsel to ensure compliance with local and international regulations, including data privacy laws and intellectual property rights.
n Offer resources to help navigate licensing, permits, and other administrative processes.
8. Performance monitoring and KPIs:
n Establish key performance indicators (KPI) to track the progress of each incubatee.
n Conduct regular assessment to evaluate the effectiveness of the incubation scheme and make necessary adjustments.
9. Networking and community building:
n Foster a collaborative environment by organizing networking events, knowledge-sharing sessions, and forums for incubatees.
n Facilitate partnerships with other businesses, industry associations, and government agencies to expand opportunities.
Conclusion:
THE BPO Incubation Scheme is committed to catalyzing the growth of small BPO companies, ultimately contributing to economic development and job creation. Through a holistic approach encompassing mentorship, infrastructure, funding, and skill development, this program aims to nurture a new generation of successful BPO entrepreneurs.
I really see this as an exciting way to train people (not longer than 4 months) and create the needed BPO entrepreneurs for smaller companies. Try it!!! I look forward to your comments; contact me at hjschumacher59@gmail.com.
THE Department of Transportation (DOTr) and the Quezon City government on Monday broke ground for the establishment of active transport lanes in select parts of Elliptical Road and Commonwealth Avenue.
According to Transportation Secretary Jaime Bautista, the expansion of active and public transport infrastructures in selected parts of Elliptical Road and Commonwealth Ave. in Quezon City includes the construction of 2-kilometer bike lanes and 10 public utility vehicle (PUV) stops as well as sidewalk improvement.
“We want to emphasize the safety of cyclists. We want to ensure cycling is a safe mode of daily travel, no longer just for leisure,” he said. “The use of non-motorized personal vehicles has been embraced by many who vouch for the health benefits of this mode of transport.”
Targeted to be completed by the first quarter of 2024, Bautista said the active transport project would benefit almost 3 million constituents of Quezon City. Bautista also thanked the local government of Quezon City for its support in the active transport program that also aims to result in environment and economic benefits.
Lorenz S. MarasiganThe estimated street value of these confiscated narcotics is a staggering P30 billion, sufficient to fund the election campaigns, including presidential campaigns, of drug lords,” said Barbers.
B arbers explained that this amount could unquestionably finance election campaigns, including presidential ones, with ease.
“ This amount can most definitely finance the elections and victory of drug lords in our political arena. Even if it’s a presidential campaign, that war chest can finance it,” Barber explained.
enforcement agencies, the PDEA, NBI, PDEG, and the Bureau of Customs, for a very very fruitful campaign against illegal drugs under the administration of President BBM,” Barbers said during his opening statement.
Fortunately, we still have many dedicated personnel within our law enforcement units who are safeguarding our peace. While a few may stray from the path, let us not waver in our commitment to prevent their success,” he said.
istration,” Barbers emphasized.
Barbers also called for collective action, saying, “Let’s collaborate. We will adopt a holistic approach to this issue. We will assist our agencies with whatever they need, with the promise that they will remain resolute in fulfilling their mandates.”
F or his part, Gonzales, the proponent of one of the resolutions under consideration, expressed deep concern about the use of areas in Pampanga for smuggling illegal drugs.
investments and other economic opportunities. We will get to the bottom of this problem, and all the people involved will have their day in court,” he declared.
B oth Barbers and Gonzales pledged to reveal the identities and organizations responsible for the illegal drug shipments into the country.
T his revelation came from House Committee on Dangerous Drugs Chairman Rep. Ace Barbers during the commencement of hearings on House Resolution (HR) 1346 and 1351, authored by Senior Deputy Speaker Aurelio “Dong” Gonzales Jr. and Rep. Jef -
ferson Khonghun, respectively. Barbers said that from July 1, 2022, the first day of President Ferdinand Marcos Jr.’s tenure, to the present day, this “bloodless” anti-drug campaign has led to the seizure of nearly 4.4 tons of shabu and almost 3 tons of dried marijuana leaves.
By Lenie Lectura @llecturaTHE Manila Electric Company (Meralco) re cently conducted an in spection of close to 3,000 electric facilities and can vassing centers that will be utilized for the Barangay and Sangguniang Kabataan Elections (BSKE).
“ Meralco has assured the public of its readiness for the 2023 Barangay and Sangguniang Kabataan Elections, with its crews on standby to respond to any electricity service concern for the October 30 polls,” the utility firm said Monday.
A side from inspecting the said facilities, which include public schools and barangay halls, within its franchise area, Meralco is also conducting maintenance activities for its distribution facilities to ensure stable and reliable electricity service on Election Day.
The distribution utility had also trimmed trees and removed hazards that can obstruct power lines and
prepared over 300 generator sets and nearly 800 flood lights on stand-by in case there will be an unexpected power interruption.
Meralco will be on alert 24/7 to respond to any distribution related problem until the conclusion of the election process. Our crews will be deployed in strategic locations across its franchise area and will be ready to address any possible problem on electricity service,”
Meralco Spokesperson and Vice President for Corporate Communications Joe Zaldarriaga said.
M eralco also reminded personnel who will be manning polling and canvassing centers to refrain from plugging in unnecessary appliances to avoid octopus wiring which can lead to overloading. The public, meanwhile, is urged to refrain from using balloons, firecrackers, confetti, party poppers, and the like near overhead lines and facilities to avoid tripping and power interruptions.
P resent at the hearing were representatives from key law enforcement agencies, including the National Bureau of Investigation (NBI), Bureau of Customs, the Philippine Drug Enforcement Authority (PDEA), and the Philippine National Police Drug Enforcement Group (PDEG).
I would like to extend my heartfelt felicitations to our law
A mong the 4.4 tons of seized drugs, a significant portion was intercepted in recent weeks: 200 kilos in Mabalacat, Pampanga, on August 25; 560 kilos from the Subic port, destined for Mexico, Pampanga, on September 24; and the most recent, 323 kilos seized on October 4 at the Manila International Container Port (MICP).
“ In just five weeks, we’ve already seized 1.3 tons. This is only the first half-year of President BBM’s admin-
It is disheartening and alarming that the formerly peaceful towns of Mexico and the city of Mabalacat have been tainted by this kind of controversy. For the information of all, the municipality of Mexico, which is under my jurisdiction, is a booming economy in Central Luzon,” Gonzales said.
The good people of Mexico worked hard to achieve where they are now. And I will not let these incidents hinder future
“ We will thresh out the whys and hows our country continues to be the favorite destination of illegal drugs and who are the big personalities or even bigger entities behind these shipments to flood us with these contrabands with fictitious and non-existent consignees,” Barbers said.
G onzales declared, “We will dig deeper and uncover the mystery behind this smuggling because I believe that there are personalities who knowingly facilitated this shipment. The smugglers wreaking havoc on our country are audacious and fearless.”
CAGAYAN DE ORO CITY—The Philippine Mental Health Association Inc. (PMHA) on Monday raised the alarm over what it described as the “rising epidemic of mental health crisis” in the country.
T he group, composed of mental health professionals and advocates, said that the situation needs widespread awareness, support, and action.
“ We have noticed a sharp increase in mental health concerns during and after the Covid-19 pandemic lockdowns,” said PMHA President and deemed as father of child psychiatry in the Philippines Dr. Cornelio Banaag Jr. during a World Mental Health Day activity in Cagayan de Oro City.
“ Mental health-related issues affect Filipinos of all ages and backgrounds—young or old, rich or poor. It is a silent epidemic that we need to confront head-on,” he added.
In the Philippines, mental illness is becoming a common disability and at least 3.6 million Filipinos suffer from mental, neurological, and substance use disorder, according to the Department of Health (DOH).
The PMHA said that access to mental health services in the country remains limited and unequal due to stigma and scarce resources. There is also less than one mental health worker for every 100,000 Filipinos, according to the group.
PMHA urged a whole-of-society approach to address mental health concerns. “Mental health is a universal human right,” said Banaag.
“We need to make diagnosis, treatment, and care more accessible to the average Filipino,” he added.
PMHA called for the stronger implementation of the Philippine Mental Health Act or Republic Act No. 11036, enactment of local mental health ordinances, more funding to expand mental health services, and a constant public awareness campaign.
“
The mental health crisis in the Philippines requires a united effort from all sectors of society—local and national governments, private sector and the workplace, healthcare providers, communities, schools, and individuals,” said Banaag.
“Everyone has a role to play to improve Filipinos’ mental wellness.”
LARGE companies covered by the Extended Producer Responsibility (EPR) law should invest in building resilient communities as part of their waste-recovery efforts by providing livelihood opportunities and implementing capacity-building programs, the country’s chief steward of the environment and natural resources said.
The EPR law covers not all companies, as only large firms with over P100 million total assets are required to recover a certain percentage of their plastic packaging under the pain of penalties and fines.
Under the law, these so-called “obliged companies” shall be responsible for allocating resources to support the collection, recovery, transportation, processing, recycling, and disposal of plastic packaging wastes in environmentally sound ways.
There are around 4,000 large companies that qualify as obliged companies. The Department of Environment and Natural Resources
By Butch Fernandez @butchfBMNOTWITHSTANDING concern that the existing end-service benefits for military and uniformed personnel could pose serious fiscal problems in the future, Senator Francis Escudero on Monday pushed his idea of an automatic promotion of organic government employees upon retirement, just like their counterparts in the military and the police organizations. Th is, he said, will ensure them a comfortable life after serving their
A LAWMAKER said on Monday the reconstruction of the Bicol Express rail line of the Philippine National Railways (PNR) will be a “game changer” that would accelerate economic growth in South Luzon, create highly skilled jobs in the railways sector, and open hundreds of thousands of employment opportunities for Bicolanos.
Bicol Saro Party-list Rep. Brian Raymund Yamsuan said that estimates indicate the initial phase of this ambitious project alone will spawn between 5,000 and 10,000 direct construction jobs annually, with thousands more opportunities emerging in related sectors.
The first phase encompasses a 380-kilometer railway stretch from Calamba in Laguna to Legazpi in Albay, known as the South Long Haul Project, according to the Department of Transportation (DOTr).
Yamsuan said the project would require highly skilled railway engineers and other technology-savvy workers, as the
(DENR) recently launched its nationwide EPR campaign aimed at boosting compliance to help eliminate plastic waste from the country’s natural ecosystems. The EPR Act, also known as RA 11898, sets ambitious waste reduction targets, necessitating transformative, systemwide actions, and large-scale implementation.
“ call on our partners to include in their programs the improvement of livelihood of waste pickers in their communities through the development of alternative opportunities for livelihood and the incorporation into the evolving formal solid waste management industry,” DENR Secretary Maria Antonia YuloLoyzaga said in a statement.
Yulo-Loyzaga said resilient communities always include vulnerable populations, such as the informal waste sector and stressed the need to improve their status and work conditions and invest in capacity building to transform their vulnerability.
Apart from livelihood opportunities, other
country for many years.
E scudero’s enabling law, embodied in Senate Bill 297, proposes to grant a promotion of one salary grade level higher than the employee’s position at the time of retirement. It has hurdled first reading and is now being tackled by a technical working group under the Committee on Civil Service, Reorganization and Professional Regulation.
“ It is not an overstatement to say that the men and women in the government service, particularly those who have committed most
administration of Ferdinand R. Marcos Jr. is bent on implementing the project with modern freight infrastructure and worldclass passenger rail services along its route. “Reconstructing the Bicol Express using cutting-edge rail technology will be a game changer in terms of fueling South Luzon’s economic growth. A modern Bicol Express will not only safely and comfortably transport commuters and tourists along its scenic route; it will also facilitate a dramatic increase in the transport of goods and services going to and from South Luzon,” Yamsuan said. “ This would, in turn, boost trade across the regions, bring down transport expenses for both manufacturers and workers, and create new urban centers outside Metro Manila,” said Yamsuan, who has long been pushing for the revival of a modern Bicol Express.
According to estimates by the Chinese Embassy when the reconstruction of the Bicol Express was being considered for funding by
initiatives can include financial literacy programs and training to build entrepreneurship skills.
The DENR chief said it is necessary to capacitate local government units (LGU) and the other sectors working with them to implement a robust system for data recording, tracking, analysis, and reporting.
The EPR law places the responsibility for managing plastic waste on its producers, emphasizing waste reduction, recovery, and diversion through EPR programs. Obliged enterprises are initially required to recover 20 percent of their plastic product footprint, increasing it to 40 percent by 2024 and reaching 80 percent by 2028.
The DENR chief highlighted that solutions for waste management must be coupled with approaches that enable systems to become adaptable to climate change thus consider investing in resilience. This includes integrating risks into business value cycles and investing in prevention and preparedness for hazards
beyond the fence lines of business operations.
“The DENR recognizes the social dimension of plastics. What we are asking is for everyone to join us in a whole-ofgovernment and whole-of-society effort towards sustainability and resilience through upcycling and repurposing wastes as we know it and removing plastics throughout our economy with a sufficient substitution.”
Loyzaga also reiterated the DENR’s commitment to ongoing dialogues with all stakeholders to enhance cooperation and overcome challenges in solid waste management. She also emphasized the importance of partnerships and support from LGUs, as well as key government agencies, including the Department of Finance, the Department of the Interior and Local Government, the Department of Science and Technology, the Department of Social Welfare and Development, and the Department of Trade and Industry. Jonathan L. Mayuga
of their lifetime as government workers for 20 years or so, are dedicated and devoted public servants. But beyond this statement, nothing much awaits them as they finally leave government service,” Escudero pointed out.
My bill aims to give due recognition to these government workers by the expedient act of promoting them one grade higher at the time of their retirement. This proposed automatic promotion upon retirement policy similar to the military service should likewise be extended to the civil service,” he stressed.
China, the P142 billion project would create “over 10,000 direct construction jobs each year and hundreds of thousands of jobs in related areas.”
The project will also open well-paying permanent jobs for railway engineers and other workers who will need to be trained to operate the modern Bicol Express as well as other railway projects of the government covered by the ‘Build Better More’ program of President Marcos,” Yamsuan noted.
Yamsuan said micro, small, and medium enterprises (MSMEs) will also flourish in the station stops of the Bicol Express line, creating more jobs that go beyond construction and supply chain support.
The National Economic and Development Authority (Neda) estimates that for every peso spent, an infrastructure yield benefit of another P1.27 could be realized. Also, every job created in the infrastructure sector generates a multiplier effect of 0.5 jobs.
Senate Bill 297 mandates that the adjusted salary grade level of the retiree shall be used as the basis for the computation of his/her retirement.
The bill further requires the Civil Service Commission, in coordination with the Department of Budget and Management and the Government Service Insurance System, to formulate the necessary rules and regulations for the effective implementation of the measure once enacted into law. T he Escudero bill and other similar proposals are now being harmonized and consolidated at the Technical Working Group level.
Yamsuan has been pushing the publicprivate partnership (PPP) mode in implementing the revival and modernization of the Bicol Express to ensure that the project can begin implementation under the current administration.
With no clear direction yet from China on whether it would continue to fund the project, Yamsuan said the Department of Transportation (DOTr) could consider tapping foreign funding institutions like the Asian Development Bank (ADB) or the Japan International Cooperation Agency (JICA) to provide financing for the electromechanical system of the project, while the government funds the right-of-way acquisition and rolling stock and partners with the private sector for the civil works aspect of the project.
Connecting Laguna to Bicol, the first package of the Bicol Express, or the PNR’s South Long Haul Project, is expected to reduce travel time between the two points from the current 14 to 18 hours to just 4 to 6 hours. Jovee Marie N. Dela Cruz
IN the ongoing “bloodless” anti-drug campaign of Marcos administration, an astounding 4.4 tons of shabu, valued at P30 billion, have been confiscated since the start of his six-year term on July 1 of the previous year, a leader of the House of Representatives said on Monday.
Meralco assures service preparedness for BSKE
DENR tells ‘EPR-obliged’ firms to invest in resiliency programs
Sen. Escudero pushes bill on automatic promotion for career government workers upon retirement
PMHA raises alarm over ‘rising epidemic of mental health cases’
Yamsuan cites potential benefits from Bicol railway reconstruction
The Associated Press
JERUSALEM—Israel intensified its bombardments of the Gaza Strip on Monday after declaring war and vowing to destroy the “military and governing capabilities” of the enclave’s Hamas rulers, as Israeli soldiers fought to secure the border and dislodge Gaza gunmen from areas of southern Israel.
At least 700 people have reportedly been killed in Israel—a staggering toll on a scale the country has not experienced in decades—and more than 400 have been killed in Gaza.
Palestinian militant groups claimed to be holding over 130 captives from the Israeli side.
More than two days after Hamas launched its unprecedented incursion out of Gaza, Israeli forces were still battling militants holed up in several locations.
As Monday began, the military said it was fighting Hamas in “seven to eight” places in southern Israel.
Military spokesperson Richard Hecht said it was taking longer than expected to repel the incursion because there were still multiple breaches in the border, which Hamas could be using to bring in more fighters and weapons. “We thought this morning we’d be in a better place,” Hecht said.
The Israeli Defense Forces said that 70 additional militants infiltrated Be’eri kibbutz, which the military has been unable to wrest from Hamas, overnight.
Meanwhile, Israel hit more than 1,000 targets in Gaza, its military said, including airstrikes that leveled much of the town of Beit Hanoun in the enclave’s northeast corner.
Israeli Rear Adm. Daniel Hagari told reporters Hamas was using the town as a staging ground for attacks. There was no immediate word on casualties, and most of the community’s population of tens of thousands likely fled beforehand.
“We will continue to attack in this way, with this force, continuously, on all gathering (places) and routes used by Hamas,” Hagari said.
The declaration of war portended greater fighting ahead, and a major question was whether Israel would launch a ground assault into Gaza, a move that in the past has brought intensified casualties. An Israeli mili -
tary spokesperson said that the army had called up around 100,000 reservists, and said in a statement that Israel would aim to end Hamas’ rule of Gaza.
“Our task is to make sure that Hamas will no longer have any military capabilities to threaten Israel with this,” said spokesperson Jonathan Conricus in a video tweeted by Israel’s military. “And in addition to that, we will make sure that Hamas is no longer able to govern the Gaza Strip.”
After breaking through Israeli barriers with explosives at daybreak Saturday, the Hamas gunmen rampaged for hours, gunning down civilians and snatching people in towns, along highways and at a techno music festival attended by thousands in the desert. The rescue service Zaka said it removed about 260 bodies from the festival, and that number was expected to rise. It was not clear how many of those bodies were already included in Israel’s overall toll.
The Israeli military estimated 1,000 Hamas fighters took part in
Saturday’s initial incursion. The high figure underscored the extent of planning by the militant group ruling Gaza, which has said it launched the attack in response to mounting Palestinian suffering under Israel’s occupation and blockade of Gaza.
Hamas and the smaller Islamic Jihad group claimed to have taken captive more than 130 people from inside Israel and brought them into Gaza, saying they would be traded for the release of thousands of Palestinians imprisoned by Israel. The announcement, though unconfirmed, was the first sign of the scope of abductions.
The captives are known to include soldiers and civilians, including women, children and older adults, mostly Israelis but also some people of other nationalities. The Israeli military said only that the number of captives is “significant.”
Mayyan Zin, a divorced mother of two, said she learned that her two daughters had been abducted when a relative sent her photos from a Telegram group showing them sitting on
The Associated Press
ISLAMABAD—Men dug through rubble with their bare hands and shovels in western Afghanistan Sunday in desperate attempts to pull victims from the wreckage left by powerful earthquakes that killed at least 2,000 people.
Entire villages were flattened, bodies were trapped under collapsed houses and locals waited for help without even shovels to dig people out.
Living and dead, victims were trapped under rubble, their faces grey with dust. A government spokesman said Sunday that hundreds were still trapped, more than 1,000 hurt and more than 1,300 homes destroyed.
“Most people were shocked...some couldn’t even talk. But there were others who couldn’t stop crying and shouting,” photographer Omid Haqjoo, who visited four villages Sunday, told The Associated Press by phone from Afghanistan’s fourth largest city, Herat.
Saturday’s magnitude 6.3 earthquake hit a densely populated area near Herat. It was followed by strong aftershocks.
A Taliban government spokesman on Sunday provided the toll that, if confirmed, would make it one of the deadliest earthquakes to strike the country in two decades.
An earthquake that hit eastern Afghanistan in June 2022, striking a rugged, mountainous region, wiped out stone and mud-brick homes and killed at least 1,000 people.
People in Herat freed a baby girl from a collapsed building after she was buried up to her neck in debris. A hand cradled
the baby’s torso as rescuers eased the child out of the ground. Rescuers said it was the baby’s mother. It was not clear if the mother survived. The video was shared online and verified by The Associated Press.
The US Geological Survey said the quake’s epicenter was about 40 kilometers (25 miles) northwest of Herat. It was followed by three very strong aftershocks, measuring magnitude 6.3, 5.9 and 5.5, as well as lesser shocks.
With much of the world wary of dealing directly with the Taliban government and focused on the conflict between Israel and the Palestinians, Afghanistan hasn’t received an immediate global response. Almost 36 hours after the first earthquake hit Herat province, there have been no planes of aid flying in, no specialists.
Aid agencies and nongovernmental groups have appealed for the international community to come forward but only a handful of countries have publicly offered support, neighboring China and Pakistan among them.
The International Rescue Committee warned that the lack of rescue equipment could push up the death toll in western Afghanistan because trapped survivors cannot be freed.
“There’s not much disaster management capacity and what there is can’t cover people on the ground,” said Salma Ben Aissa, the committee’s country director for Afghanistan. “The numbers (of dead) are increasing hour by hour.”
People injured in the quake on Saturday can’t get the treatment they need because of poor medical infrastructure so they are losing their lives. A lack of food, shelter and clean
water are increasing the health risks among communities.
Ben Aissa’s colleague, Jawed Niamati, said Herat city is empty. People are sleeping in the open air, on roadsides and in parks, because they fear more quakes. Temperatures drop to 10 degrees Celsius (50 degrees Fahrenheit) at night, he said.
The world rushed in aid after an earthquake rocked Syria and Turkey this year, killing tens of thousands of people.
Abdul Wahid Rayan, a spokesman at the Ministry of Information and Culture, said Sunday that hundreds of civilians were buried under the debris in Herat, and he called for urgent help.
At least a dozen teams have been scrambled to help with rescue efforts, including from the military and nonprofit organizations like the Red Crescent.
The United Nations migration agency deployed four ambulances with doctors and psychosocial support counselors to the regional hospital. At least three mobile health teams were on their way to the Zenda Jan district, which is one of the worst hit areas.
Doctors Without Borders set up five medical tents at Herat Regional Hospital to accommodate up to 80 patients. Authorities have treated more than 300 patients, according to the agency. UNICEF dispatched thousands of supplies, including winter clothes, blankets and tarpaulins as temperatures dropped.
Irfanullah Sharafzai, a spokesman for the Afghan Red Crescent Society, said seven teams were busy with rescue efforts while others were arriving from eight nearby provinces. They set up a temporary camp for
mattresses in captivity. She then found online videos of a chilling scene in her ex-husband’s home in the town of Nahal Oz: Gunmen who had broken in speak to him, his leg bleeding, in the living room near the two terrified, weeping daughters, Dafna, 15, and Ella, 8. Another video showed the father being taken across the border into Gaza.
“Just bring my daughters home and to their family. All the people,” Zin said.
Civilians on both sides were already paying a high price. The Israeli military was evacuating at least five towns close to Gaza, while the UN said more than 123,000 Gazans had been displaced by the fighting.
In Gaza, a tiny enclave of 2.3 million people sealed off by an IsraeliEgyptian blockade for 16 years since the Hamas takeover, residents feared further escalation.
As of late Sunday, Israeli airstrikes had destroyed 159 housing units across Gaza and severely damaged 1,210 others, the UN said. The UN agency for Palestinian refugees,
the displaced, Sharafzai said.
Some aid groups, like the World Food Program, were already on the scene with essential items.
Later Sunday, people from surrounding villages brought equipment to support rescue efforts.
The first quake was the strongest, causing the most damage and casualties, photographer Haqjoo said, quoting survivors. Save the Children said the scale of the damage was horrific. “The numbers affected by this tragedy are truly disturbing—and those numbers will rise as people are still trapped in the rubble of their homes in Herat,” said the aid group’s country director for Afghanistan, Arshad Malik. “This is a crisis on top of a crisis. Even before this disaster, children were suffering from a devastating lack of food.”
He called for an “urgent injection” of money from the international community.
Neighboring Pakistan said it was in contact with Afghan authorities to get an assessment of the urgent needs.
China’s ambassador to Afghanistan, Zhao Xing, said his government and the country’s charitable institutions were ready to provide all kinds of help. “We are in contact with Afghan government aid agencies to provide aid to the needy,” he said on X, formerly known as Twitter.
Afghan cricket star Rashid Khan is donating all his Cricket World Cup fees to help Herat’s earthquake survivors. “Soon, we will be launching a fundraising campaign to call upon those who can support the people in need,” he told his 1.9 million followers on X.
Japan’s ambassador to Afghanistan, Takashi Okada, expressed his condolences on the social media platform X, saying he was “deeply grieved and saddened to learn the news of earthquake in Herat province.”
The Associated Press writer Rahim Faiez contributed to this report.
have been wounded on each side. An Israeli official said security forces have killed 400 militants and captured dozens more.
The declaration of war was largely symbolic, said Yohanan Plesner, the head of the Israel Democracy Institute, a think tank, but it “demonstrates that the government thinks we are entering a more lengthy, intense and significant period of war.”
Israel has carried out major military campaigns over the past four decades in Lebanon and Gaza that it portrayed as wars, but without a formal declaration.
The presence of hostages in Gaza complicates Israel’s response. Israel has a history of making heavily lopsided exchanges to bring captive Israelis home.
An Egyptian official said Israel sought help from Cairo to ensure the safety of the hostages. Egypt also spoke with both sides about a potential ceasefire, but Israel was not open to a truce “at this stage,” according to the official, who asked not to be identified because he was not authorized to brief media.
On Sunday, the US dispatched an aircraft carrier strike group to the Eastern Mediterranean to be ready to assist Israel, and said it would send additional military aid.
UNRWA, said a school sheltering more than 225 people took a direct hit. It did not say where the fire came from.
In the Palestinian city of Rafah in southern Gaza, an Israeli airstrike early Monday killed 19 people, including women and children, said Talat Barhoum, a doctor at the local Al-Najjar Hospital. Barhoum said aircraft hit the home of the Abu Hilal family, and that one of those killed was Rafaat Abu Hilal, a leader of a local armed group. The strike caused damage to surrounding homes.
Over the weekend, another airstrike on a home in Rafah killed 19 members of the Abu Outa family, including women and children, when they were huddling on the ground floor in the southern Gaza city of Rafah, survivors said.
Several Israeli media outlets, citing rescue service officials, said at least 700 people have been killed in Israel, including 73 soldiers. The Gaza Health Ministry said 413 people, including 78 children and 41 women, were killed in the territory. Some 2,000 people
In northern Israel, a brief exchange of strikes with Lebanon’s Hezbollah militant group fanned fears that the fighting could expand into a wider regional war. Hezbollah fired rockets and shells Sunday at Israeli positions in a disputed area along the border, and Israel fired back using armed drones. The Israeli military said the situation was calm after the exchange. Elsewhere, six Palestinians were killed in clashes with Israeli soldiers Sunday around the West Bank.
Over the past year, Israel’s farright government has ramped up settlement construction in the occupied West Bank. Israeli settler violence has displaced hundreds of Palestinians there, and tensions have flared around the Al-Aqsa mosque, a flashpoint Jerusalem holy site.
Adwan reported from Rafah, Gaza Strip. Associated Press writers Isabel DeBre and Julia Frankel in Jerusalem; Wafaa Shurafa in Gaza City; Tia Goldenberg in Tel Aviv, Israel; Bassem Mroue in Beirut; Samy Magdy in Cairo; and Amir Vahdat in Tehran, Iran contributed to this report.
OIL surged as much as 5 percent after the broadest and bloodiest attack on Israel in decades threatened to inflame tensions in the Middle East, the source of around a third of the world’s crude.
West Texas Intermediate traded near $86 a barrel as a war-risk premium returned to markets. The death toll on both sides following Hamas’ strikes against Israel over the weekend topped 1,100 as fighting headed into a third day, while the US said it was sending warships to the region.
The latest events in Israel don’t pose an immediate threat to oil flows, but there’s a risk the conflict could spiral into a more devastating proxy war, embroiling the US and Iran. Any retaliation against Tehran amid reports it was involved in the attacks could endanger the passage of vessels through the Strait of Hormuz, a vital conduit that Iran has previously threatened to close.
While the worst-case scenario of a regional war has to be kept in view, it’s not my base case,” said Vandana Hari, founder of Singapore-based analysis firm Vanda Insights. “Restraint and calmer minds will prevail as there will be only losers all-round in a wider war.”
WTI and global benchmark Brent futures had plummeted this month—dropping by around $10 a barrel before the attack on Israel—as worries about high interest rates and slowing growth clouded the demand outlook. Those fears overshadowed bullishness that spurred a sharp rally in the third quarter as physical balances tightened due to prolonged Saudi-led crude output cuts.
The Israel-Hamas war reduces expectations Saudi Arabia will cut or eliminate its 1 million barrels a day of output curbs, Citigroup Inc. analysts Ed Morse and Eric Lee said in a note. Risks are also growing that Israel will attack Iran, they said.
The attacks come after months of easing tension between Washington and Tehran, with crude shipments from Iran rebounding to a five-year high with America’s tacit blessing. In an extreme scenario, Iran could retaliate and take aim at the Strait of Hormuz, should the Islamic Republic find itself in a corner. The waterway is essential for the movement of nearly 17 million barrels of crude and condensate each day.
“If Israel comes out and directly implicates Iran, we believe it will likely be difficult for the Biden administration to continue to adopt such a permissive sanctions regime,” RBC Capital Markets analyst including Helima Croft said in a note. “We anticipate that critics in Congress and elsewhere will contend that the White House is providing Iran with the financial wherewithal to sponsor such malign actors.”
The weekend’s events were reflected in oil’s futures curve, although the moves weren’t dramatic. WTI’s prompt timespread moved to $1.75 a barrel in backwardation, a bullish market structure that signals nervousness over supply, from $1.51 on Friday.
“The lack of movement in WTI timespreads suggests there’s little change in supplydemand fundamentals at the moment,” said Warren Patterson, head of commodities strategy at ING Groep NV. “Uncertainty over how the situation evolves is likely to support prices.” With assistance from Jake LloydSmith and Linus Chua/Bloomberg
ThE Annapolis Conference was a Middle East peace initiative held in 2007 to revive the Israeli-Palestinian peace process and implement a “Roadmap for Peace.” Three major parties—The Palestine Liberation Organization, Israel, and the United States—agreed on a two-state solution as the outline for negotiations. The parties sought continuing bilateral negotiations between the Israelis and Palestinians for the establishment of a Palestinian state and the realization of Israeli-Palestinian peace.
There have been many diplomatic efforts to realize a two-state solution. Unfortunately, all of these initiatives failed. A survey by The Palestinian Center for Policy and Survey Research said support for a two-state solution among Palestinians and Israeli Jews, as of 2021, has declined to 43 percent and 42 percent, respectively.
Among Middle East experts polled, 52 percent believe that the two-state solution is no longer achievable. And 77 percent believe that if not achieved, the result would be a “one-state reality akin to apartheid.”
The Islamist group Hamas on Saturday launched its biggest incursion into Israel. Reports said the militants broke out of the blockaded Gaza Strip and rampaged through nearby Israeli communities, taking captives, including women, children and the elderly. As fighting entered a third day, the combined death toll from the Hamas attack has climbed to more than 1,100, and thousands were wounded.
While Israeli forces clashed on the ground with Hamas fighters, Israel’s retaliation strikes leveled buildings in Gaza. At least 400 Palestinians have died in fighting and retaliatory attacks and more than 1,600 were wounded, the Palestinian health ministry said.
Declaring that Israel is “at war,” Prime Minister Benjamin Netanyahu said: “We are embarking on a long and difficult war. The war was forced upon us by a murderous attack by Hamas.”
The US condemned “the appalling Hamas terrorist attacks in Israel.” “The United States unequivocally condemns the unprovoked attacks by Hamas terrorists against Israeli civilians. There is never any justification for terrorism. We stand firmly with the government and people of Israel and extend our condolences for the Israeli lives lost in these attacks,” the White House said.
Arab League chief Ahmed Aboul Gheit urged “an immediate halt to military operations in Gaza” and “the cycle of armed confrontation between the two sides.” He said “Israel’s continued implementation of violent and extremist policies is a time bomb depriving the region of any serious opportunity for stability in the foreseeable future.”
Saudi Arabia called for “an immediate cessation of the escalation” between both sides and “the protection of civilians.” In a statement, Saudi said it had issued repeated warnings of a possible escalation in light of “the ongoing occupation and the deprivation of the Palestinian people of their legitimate rights, as well as the repeated deliberate provocations against their sanctities.” The Saudi statement urged the international community to “fulfill its responsibilities and activate a credible peaceful process leading to a two-state solution that achieves security and peace in the region and protects civilians.”
Qatar, which is against normalization with Israel, expressed “deep concern” over the developments in the Gaza Strip. It said Israel was “solely responsible for the ongoing escalation due to its continuous violations of the rights of the Palestinian people, including its recent repeated intrusions into the holy Al-Aqsa Mosque under the protection of the Israeli police.” Qatar called on the international community “to compel Israel to stop its blatant violations of international law, hold it accountable to respect legitimate international decisions and the historical rights of the Palestinian people, and prevent these events from being used as a pretext to ignite a new disproportionate war against Palestinian civilians in Gaza.”
After the deadly Hamas attack on Israel that has shaken regional stability, and given the internal divisions among Palestinians following the collapse of the IsraeliPalestinian peace negotiations, is there still a path to a Palestinian independent state? Will the world ever see lasting peace in Israel?
The Wilson Center, a US think tank that provides nonpartisan counsel and insights on global affairs to policymakers, said a conflict-ending solution to the PalestinianIsraeli crisis would stabilize the region. In a forum it organized to find a solution to the worsening situation, a panel of experts agreed that the most desirable outcome would be two states, Israel and Palestine, coexisting in peace and security.
This new war should serve as a wake-up call for the global community to redouble efforts towards achieving Israeli-Palestinian peace. Failure to resolve the territorial and existential dispute between Israel and Palestine makes the conflict a source of permanent tension in the region.
lometers or RPKs, was up 28.4 percent year-on-year or 95.7 percent of pre-Covid levels.
increasing wealth, impressive economic growth and massive tourism potential.
Manny B. Villar
FOREIgn tourists are back in the Philippines, and this is evident in the increased number of flights this year, with many airlines announcing fleet expansion to support demand.
Tourists of different nationalities can be spotted dining at cafes or shopping at malls in central business districts as well as popular island destinations, such as Cebu, Palawan and Boracay. If this trend continues, we may have stronger economic activities in the fourth quarter. Tourism helps uplift the economy because of its major roles in stimulating mobility, recirculating money in the provinces, supporting businesses and services, and creating jobs.
We are aware that many tourists are also business owners in countries where they come from, so a pleasant travel experience in the Philippines could encourage
them to consider investing here or buying a condominium unit, which contributes further to overall economic growth.
Global travel is now actually near the pre-pandemic level. Many nations lifted the mandatory use of face masks after the World Health Organization (WHO) declared an end to Covid-19 as a public health emergency in May 2023. The WHO advice encouraged people to travel again, either for leisure, work or business.
The International Air Transport Association (IATA), a group of airline operators, reported that as of August 2023, passenger traffic, as measured in revenue passenger ki-
John MangunIT is Sunday morning—October 8th—in Manila as I put fingers to keyboard, so as you read this, what has transpired in the past 48 hours in anyone’s guess. nonetheless, the events of Saturday morning in the Middle East marks a defining point between “before” and “after” not unlike similar crossroads after the german invasion of Poland, the 9/11 attack, and domestically, the assassination of ninoy Aquino.
There is no going back to the way it was before regardless of how much we would like that to happen. We are witnesses to the most widespread invasion of Israel’s territory by Hamas (the Palestinian Sunni-Islamic group that controls Gaza) in 50 years. The Yom Kippur War, also known as the Ramadan War, was an armed conflict fought in October 1973, between Israel and a coalition of Arab states led by Egypt and Syria. The majority of combat between the two sides took place in the Sinai Peninsula and the Golan Heights—both of which were occupied by Israel in 1967.
Over one million combatants fought with some 10,000 military and civilian deaths.
That war was in essence between Soviet allies in the region—Egypt
and Syria and to a lesser extent Iraq and Jordan (even Cuba lost 180 dead) and US ally Israel. But there is always a backstory. During the Six-Day War of 1967, Israel captured Egypt’s Sinai Peninsula, roughly half of Syria’s Golan Heights, and the territories of the West Bank, which had been held by Jordan since 1948.
Shortly after the Six-Day War, the Israeli government purportedly voted to return the Sinai to Egypt and the Golan Heights to Syria in exchange for a permanent peace settlement and a demilitarization of the returned territories. However, no formal peace proposal was made either directly or indirectly by Israel.
Why does every war seem to be a continuation of the last war? However, each war has its own particular
Asia-Pacific airlines, in particular, posted a 98.5-percent increase in August 2023 traffic from a year ago. In the Philippines, passenger traffic for international flights in June 2023 was registered at 75 percent of 2019 levels. This is expected to significantly improve in the third and fourth quarters of 2023.
Many airlines nearly collapsed at the height of the pandemic from 2020 to 2022 as most aircraft were grounded. This year provides them renewed hope about launching more flights, recouping their losses and hiring back their crew.
Philippine Airlines, Cebu Pacific and Air Asia Philippines are among the carriers that reported expansion plans to launch more flights and serve more passengers. Per Cebu Pacific CEO Michael Szucs, “Philippine carriers will need to quadruple in size to cater to growing demand.”
I agree with the general observation in the recent Philippine Aviation Summit that the Philippines can become an Asean hub, given the country’s large young middle class,
“causes.” Iran is, directly and indirectly, the largest source of funding for Hamas. Iran’s greatest fear is a Sunni Arab-Israeli rapprochement.
October 6, 2023: “Saudi Arabia Willing to Raise Oil Output to Help Secure Israel Deal.” October 7, 2023: “Surprise Infiltration, Massive Barrages Shock Israel; Several Killed, Hundreds Wounded, Unknown Number of Hostages.”
Hamas may have estimated that recent Israeli political turmoil and mass street protests over proposed reforms of the Israeli Supreme Court had led to permanent internal divisions and thus a climate of domestic distraction if not an erosion of deterrence.
In February, US Secretary of State Blinken had bragged that not only had the Biden administration resumed massive aid to the Palestine Liberation Army cancelled by Trump, but cumulatively had transferred $1 billion, even as Palestinian authorities bragged that they would continue to pay bounties to the families of “martyrs.”
Israeli jets have been striking Syria almost on a weekly basis, “attacking Iranian targets and assets inside Syria.” If Hezbollah—the Lebanese Shia Islamist political party—and Israel enter a war, this would increase the likelihood of it expanding into already war-torn Syria. Russia enjoys a historically strong, stable, and friendly relationship with Syria and Russia’s
This is why the government is preparing transport infrastructure like airports. Per Department of Transportation Secretary Jaime Bautista, the rehabilitation of the Ninoy Aquino International Airport (Naia) through a public-private partnership agreement presents a “landmark opportunity for economic growth, improved infrastructure and a worldclass travel experience.”
Tourism, which is a part of the services sector along with business process outsourcing and labor exports, also helps stabilize our balance of payments. It could partially cover our huge trade deficit that reached more than $58 billion in 2022. Meanwhile, Department of Tourism Secretary Christina Frasco disclosed in a Senate budget hearing that international tourism receipts in the Philippines amounted to P344 billion in the first nine months of 2023, as visitor arrivals surpassed four million. This is supported by the report of global travel data provider Official Airline Guide (OAG), showing the Philippines’ depart-
See “Villar,” A13
only Mediterranean naval base for its Black Sea Fleet is located in the Syrian port of Tartus. Further, Turkey’s new de facto alliance with Russia and recent drone encounter with the US Air Force in Syria adds more danger of escalation and expansion.
Since the ascension of Biden and his woke military agendas, we have recently seen the following: Vladimir Putin’s opportunistic invasion of Ukraine, China’s belligerence and escalating threats to Taiwan, and Putin accepting Kim Jong Un invitation to North Korea followed by North Korea transferring artillery to Russia, bolstering Russia’s forces.
All this talk of a new “Multi-Polar World” is meaningless babble. Since the beginning of the 20th century until today, it has always been “Bi-Polar” with the US and its allies on one side and another coalition on the other. Perhaps the bipolar mental health definition is applicable: delusions of self-importance, highly irritable, impatient, and aggressive.
What the short-term repercussions politically and economically will be in Asia is obviously unknown and specifically unquantifiable. But I have to say it again. If you like the continuing chaos of 2023, you are going to love 2024.
E-mail me at mangun@gmail.com. Follow
CHINeSe markets are set to reopen after the Golden Week holidays against an uncertain global market backdrop, which may temper optimism from the spending boom at home.
A lot has happened overseas while mainland markets were shut. Risk assets were hammered as renewed concern about higher-for-longer US interest rates spurred a Treasuries selloff that rippled through world markets. On the domestic front, however, tourism revenue from the holidays surged year-on-year, adding to bets that China’s economy has likely bottomed.
The conflicting signals set the stage for a choppy start for mainland equities on Monday. A gauge of Chinese shares listed in Hong Kong rose on Friday, helping trim its losses since September 28—when onshore markets last traded—to 0.3 percent. Meanwhile, an index of the nation’s US-listed stocks has gained 0.3 percent in the period. The offshore yuan has weakened about 0.2 percent against the dollar.
“The Golden Week consumption data should give more confidence to markets that demand is stabilizing, which may help boost sentiment for consumer and service sectors,” said Marvin Chen, a strategist with Bloomberg Intelligence. “But easing domestic worries come with rising external headwinds from markets adjusting to higher-for-longer Fed rates.”
Traders had been pinning their hopes on a holiday consumption boost to provide new catalyst for the sluggish market. Travel and spending surged compared with lockdown-hit 2022, with 826 million travelers representing a 71 percent increase from last year. Spending jumped nearly 130 percent. Other key sets of data released during the break also showed the broader economy is on the mend, though far from roaring back.
Investors will weigh these modest improvements against concerns about tighter Federal Reserve policy following a hotter-than-expected US jobs report. China is seen at particular risk as a wider interest-rate gap with the US can increase pressure on the yuan and accelerate a capital flight.
The CSI 300 Index, a benchmark of onshore Chinese stocks, was down 4.7 percent for the year before heading into the break. A further 4.9 percent decline will see it erase all its gains from the reopening rally that
took off in October 2022. Reaching that grim milestone may embolden China skeptics, who continue to shun the market due to deepening property-sector woes and geopolitical concerns.
The housing market slump remains a major overhang, with the crisis embroiling debt-ridden developer China Evergrande Group and other key builders showing little signs of abating. Home sales continued to post double-digit declines from a year earlier in September, a traditionally busy season for builders, underscoring weak buyer confidence despite a recent slew of property easing measures.
Some investors, however, say this year’s relentless selloff has created some buying opportunities. There are also hopes that the upcoming third plenum of the 20th Party Congress, a gathering of top leaders to discuss major economic and reform issues, will offer hints of further stimulus. The meeting, to be held toward the end of October and early November, could act as a positive catalyst, said Chen of Bloomberg Intelligence.
“We can expect a recovery toward the end of the year or early next year with the economy coming toward the end of the de-stocking cycle, and as we see more coordinated policy efforts to tackle the weak economy,” said Elizabeth Kwik, investment director of Asian equities at abrdn Plc.
For now, winning back foreign investors is proving to be hard. Global funds sold Chinese shares on a net basis for a second consecutive month in September, trimming their exposure to the lowest level since 2020. Pessimism is such that “short China equities” emerged as one of the biggest convictions among money managers in the latest Bank of America Corp. monthly survey.
“We have economic data showing improvement so that’s a good start, but markets are skeptical given how confidence was badly damaged,” said Christopher Wong, FX strategist at Oversea-Chinese Banking Corp. in Singapore. It will take time for Chinese markets to recover, he added, as “sentiment needs to recover and confidence needs to be repaired.”
With assistance from Iris Ouyang/Bloomberg
IN our value-added tax system, the imposition of VAT is anchored on the basic principle that any person who sells goods and services, in the course of trade of business, shall be subject to VAT. What are subject to VAT are transactions done in the course of trade or business. Apparently, the phrase “regular course of trade or business” covers not only those pursued in the regular conduct or pursuit of a commercial or economic activity but also includes transactions incidental thereto. Incidental transactions are therefore covered by the VAT regime if the main business activity is subject to VAT.
Recall that in the past, the Courts declared that isolated transactions are not subject to VAT. In one case (GR 146984, July 28, 2006), vessels were acquired and leased in the ordinary course of business of the owner. The subsequent sale of the vessels was not considered to have been done in the course of the seller’s business as it was involuntary and was made because of the government’s privatization program. Accordingly, this isolated transaction was treated as not subject to VAT. Similarly, in GR 198146, August 8, 2017, the Court ruled that the sale of power plants was not in the pursuit of a commercial or economic activity but a governmental function mandated by law to privatize assets. It was not “in the course of trade or business” as contemplated under the VAT law, and thus, not subject to VAT.
However, there were also instances where one-time transactions involving sale of assets were considered as subject to VAT. In GR 193301, March 11, 2013, a vehicle was bought and used in business. It became part
of the taxpayer’s property and equipment but later sold when it was fully depreciated. The Court noted that the sale of the motor vehicle was an isolated one, the main business of the seller being in power generation and not in the business of selling motor vehicles. Nonetheless, it was an incidental transaction made in the course of the taxpayer’s business, which should be liable for VAT. According to the Court, it does not follow that an isolated transaction cannot be an incidental transaction for purposes of VAT liability.
So when are transactions treated as incidental? What are the transactions that should be embraced by the term “incidental” within the context of the VAT law? And when are incidental transactions subject to VAT?
A more recent case (GR 186155, January 17, 2023) provides a more enlightening answer. This case involves a taxpayer that was engaged primarily in the business of providing management services—managing, promoting, administering or assisting businesses. It was assessed
VAT liability on the interest income derived from the advances made to affiliates. As expected, the taxpayer argued, among others, that the granting of loans or advances to affiliates were not done in the course of trade or business. A transaction would only be subject to VAT if done regularly or in pursuit of a commercial or economic undertaking. Neither was the granting of loans—which was made occasionally to accommodate affiliates with no existing credit lines with banks—incidental to its primary business activities.
In resolving the controversy, the Court declared that, for VAT to apply, the activity may not always be pursued with regularity or habituality. VAT may still be imposed even if the transaction is merely occasional or isolated. And this is particularly true to transactions that are incidental to the main business activity. While the primary or main activity is characterized by regularity, that which is incidental to it may be conducted only occasionally. Although merely occasional or isolated, a transaction may still be embraced in the definition of “in the course of trade or business,” so long as the transaction is incidental to the seller’s main business activity.
As further clarified, however, for a transaction to be considered incidental to the main business activity, it is imperative that there must be intimate connection between the transaction and the main business activity. In this particular case, the Court found that there was no showing of a connection between the granting of financial assistance/loans and the primary purpose of providing management services. Accordingly, the interest income derived from such loans are not subject to VAT.
In summary, echoing earlier decisions, the Supreme Court stated that the VAT applies to sale of services in the course of trade or business that includes incidental transactions. It does not follow that an isolated transaction cannot be an incidental transaction for purposes of VAT liability. However, it must be clearly established that the transaction in question must be related or connected with the conduct of the main business activity, which is subject to the VAT.
There is no doubt that “incidental transactions” are embraced within the phrase “in the course of trade or business,” making said transactions subject to VAT. That transaction could be isolated or not, regularly conducted or not. But not all transactions pursued by a taxpayer are to be treated as incidental for VAT purposes. To be incidental, the undertaking must be related to the main business activity, which is subject to VAT.
The important consideration, therefore, for an activity to be considered incidental and subject to VAT as the main activity is its connection to the main business activity. If there is none, it could not be considered incidental and should be free from VAT. If it is, VAT should be imposed as a necessary consequence.
The author is the Managing Partner of DuBaladad and Associates Law Offices (BDB Law), a member-firm of WTS Global.
The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported therefore by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at fulvio.dawilan@ bdblaw.com.ph or call 8403-2001 loc 310.
ing seats reached 4.2 million as of September 2023, or equivalent to 90-percent recovery from the 2019 figure.
Arrivals in 2022 reached just 2.65 million, or only half of the total in the first three quarters of 2023, per the DOT. Secretary Frasco estimated the tourism’s share to the gross domestic product (GDP) improved to 6.2 percent this year.
While the International Monetary Fund and the World Bank revised down their 2023 growth forecasts for the Philippines to 5.3 percent and 5.6 percent, respectively,
amid the global slowdown and elevated inflation, the fourth quarter— marked by the long holiday season in the Philippines—presents a silver lining in the form of recharged tourism.
I believe we could still achieve the government’s growth target band of 6 percent to 7 percent for the year, if we could take advantage of increased visitor arrivals in the fourth quarter and turn tourism into a major economic growth driver. I remain upbeat and won’t be surprised if the economy generates better numbers in the last quarter of 2023.
For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar. com.ph
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By Upmanyu Trivedi Katharine GemmellTHE UK’s controversial policy to deport asylum seekers to Rwanda stems from a “serious and pressing need” to stop illegal migrants getting into the country on small boats, government lawyers argued as scrutiny of the plans reached the nation’s top court on Monday.
A five-judge panel at the Supreme
WASHINGTON—ToRep. Mike Collins, China is a bigger threat to the United States than Russia. So the Georgia Republican has voted against providing military aid to Ukraine as he advocates for doing more to arm Taiwan, the self-governed island that’s at risk of military aggression from Beijing.
For Collins and other Republican lawmakers, Taiwan and Ukraine are effectively rivals for a limited pool of US military assistance. But that’s not necessarily how Taiwan and many of its supporters see it. They view Taiwan’s fate as closely linked to that of Ukraine as it struggles to push back a Russian invasion.
They say China is watching closely to see if the United States has the political stamina to support an ally in a prolonged, costly war. The US aid to Ukraine also has led to weapons manufacturers stepping up production—something that could benefit Taiwan in a clash with China.
“Ukraine’s survival is Taiwan’s survival. Ukraine’s success is Taiwan’s success,” Taiwan’s diplomat in the US, Hsiao Bi-Khim, said in May at the Sedona Forum hosted by the McCain Institute.
Still, Taiwan has been careful not to weigh in on the US debate about continued funding for Ukraine, which has become a divisive political issue after initially having strong bipartisan support.
Asked about Congress removing
Ukraine funding from a temporary spending measure that prevented a US government shutdown on October 1, Taiwan’s diplomatic office responded with discretion.
“Taiwan is grateful to have strong bipartisan support from the US. We will continue to work with the US to maintain the peace and stability of the Taiwan Strait,” the Taipei Economic and Cultural Representative Office said in a statement e-mailed to The Associated Press.
But Congress’ refusal to include the aid raises “alarm bells” in Taiwan, said Bonnie Glaser, managing director of the Indo-Pacific program at the German Marshall Fund. She noted that the Taiwanese government “has argued that Ukraine’s victory is existential for Taiwan.”
“These worries exist even though most Republicans who seek to end US support for Ukraine are still very pro-Taiwan and willing to do more to help defend Taiwan,” she said.
Taiwan is the thorniest issue in the frayed US-China relationship. Beijing claims sovereignty over the island, which lies roughly 100 miles
(160 kilometers) off the mainland’s southeastern coast, and vows to seize it, by force if necessary, to achieve national reunification. The United States wants a peaceful resolution and has a security pact with the island, supplying it with military hardware and technologies to prevent any forced takeover by Beijing.
China’s military actions near the island have fueled concerns over armed attacks. President Joe Biden has said he would send troops to defend Taiwan in case of war, while Chinese President Xi Jinping has demanded the US respect his country’s “sovereignty and territorial integrity.”
Collins traveled to Taiwan on his first overseas trip as a congressman. When he returned, he called for timely weapon deliveries to the island, especially since as much as $19 billion worth of weapons sold to Taiwan have been delayed.
“These delays are primarily a result of a US manufacturing backlog and a distracted Biden administration with weapons deliveries to Ukraine taking preference over Taiwan,” Collin said. “We must get serious about offering support to our ally Taiwan because ultimately when it comes to countering China, our interests align.”
Bradley Bowman, senior director of the Center of Military and Political Power at the Foundation for Defense of Democracies, disagrees with that logic.
“It’s not a zero-sum game,” he said. “Taiwan supports the US aid to Ukraine. They understand that the deterrence message works.”
And on a practical level, Bowman said, the aid for Ukraine is helping the US expand its weapons production, which will both benefit Taiwan and enhance US military readiness.
Rep. Michael McCaul, a Texas Republican who in April led a congressional delegation to Taiwan as chair of the House Foreign Affairs Committee, said support for the island has not diminished on the Hill.
“Throughout the conversations about aid to Ukraine, I have not heard a single person take a swipe at Taiwan,” McCaul said at a recent National Day celebration hosted by Taiwan’s representative office in Washington.
Glaser said the Chinese leadership is unlikely to discount the US support for Taiwan, even when US support for Ukraine is waning, but it is likely to exploit any failure to fund Ukraine in a disinformation campaign to sow doubts among the Taiwanese people about the US commitment to their defense.
In a social media post, Hu Xijin, a retired chief editor of the Communist Party-run Global Times newspaper and now a political commentator, said this month that most US overseas military interventions have “rotted” if the US fails to cinch a rapid victory.
Court in London will examine whether a lower tribunal was right to rule the deportation policy — that involves flying refugees who arrive in Britain on small boats some 4,000 miles (6,437.4 kilometers) to the central African nation for processing—was unlawful. The legislation also violates European Convention on Human Rights, the Court of Appeal ruled. There is a “strong public interest”
and a “serious and pressing need” for the policy in order to stop illegal migration into the UK, facilitated by criminal gangs and smugglers, and deterring dangerous journeys to the UK, James Eadie, a government lawyer, said on Monday.
The case comes shortly after the Conservative Party conference where the rhetoric over immigration was dialed up with Sunak claiming he was confident of a victory in the
case. “We have a moral duty to defeat this evil,” he said in reference to what he said were criminal gangs bringing would-be asylum seekers across the border.
Sunak and Home Secretary Suella Braverman have sought to demonstrate a hard line on migration with warnings that a “hurricane” of migrants is headed for the UK and their promise to “stop the boats” bringing asylum seekers across the English
Channel from France. The legislation has put arrivals into a legal limbo, with no route to seeking asylum, and the government struggling with a massive backlog of cases that’ll take years to clear. The asylum caseload in the UK rose to 215,500 as of June, according to government data. Almost twothirds of them were still waiting an initial decision from the Home Office. Roughly 20,100 people were re-
corded as entering the UK on small boats between January and August 2023.
An unfavorable ruling—which could be months away—would boost calls from the far right of the party to quit the ECHR, who they see as needlessly meddling in British law.
Last year the Strasbourg-based court stopped the first Rwanda flights in an eleventh-hour intervention. Bloomberg
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10, 2023
By Malou Talosig-Bartolome @maloutalosig
TT he DFA has invited the International Seabed Authority (ISA) to a three-day workshop in Manila that brought together government officials, experts, academics and representatives from the private sector. A side from seafood and coral reefs, the ocean floor is also rich in mineral resources. Geologists say the metals and minerals needed for electric vehicles and other technologies are found in the deep sea such as manganese, cobalt, copper, nickel, iron, titanium, thallium and tellurium.
However, environmental groups such as Greenpeace and Oceana Philippines opposed deep-sea mining, saying it would cause irreparable damage to marine ecosystems, and probably on climate change. Countries surrounded by seas and oceans are entitled to explore and use the minerals and other resources in the seabed up to 200-nautical mile from the baseline.
Seabed areas beyond the national jurisdiction of the countries are considered “common heritage of
mankind,” according to the United Nations Convention on the Law of the Sea (Unclos). The ISA takes over jurisdiction over these seabed areas beyond national jurisdiction.
HE Department of Foreign Affairs is consulting other government agencies and other stakeholders in crafting a “holistic” Philippine position on controversial question on whether to allow the extraction of mineral resources from the ocean floor.DFA Acting Secretary Charles Jose said President Ferdinand Marcos Jr.’s administration is aggressively promoting the transition to renewable energy, and seabed mineral resources offer solutions to the demands of the clean energy technology.
“ The demand for clean energy technologies increased all over the world. Scientific and technological advancements over the past decades are rendered in the most remote parts of the ocean accessible including resources in the deep sea.
Resources containing elements such as cobalt, manganese, copper, rare earth materials which are crucial for production of batteries, solar panels and electric vehicles, are reportedly found in abundance on the seabed ocean floor, most of which are beyond national jurisdiction,” Jose said in a speech during the opening of the workshop.
A s a state party to Unclos, the Philippines is also under obligation to properly manage the exploitation of resources under the sea.
I SA Secretary-General Michael Lodge said due to the conflicting claims of the South China Sea, the ISA has no jurisdiction yet on the seabed beyond the exclusive economic zones of littoral states around it.
FILIPINO carriers are looking forward to add more international routes when the global supply chain issues ease and certain visa rules are perfected.
I n a Viber exchange, Philippine Airlines (PAL) president Stanley Ng said, for one, recently spoke with Indian tour operators for possible charter flights. “PAL is open to connect Philippines and India, whether charter or commercial [flights]. We are just having challenges with the worldwide [supply-chain problems with] Pratt & Whitney. Once it’s resolved, we can definitely explore [flights to India].”
He said, more exploratory talks will “tentatively” take place “around third quarter next year.”
In July, engine aircraft manufacturer Pratt & Whitney announced a recall of 1,200 of 3,000 Geared Turbofan engines for inspection due to possible microcroscopic cracks.
According to the Financial Times, these engines were introduced in 2016 in the Airbus A320neo, and is estimated to affect about 57 international carriers. Prior to this, PAL and Cebu Pacific had to cancel or reschedule their flights due to preventive maintenance issues and delayed delivery of engine aircraft and other spare parts from Pratt & Whitney.
‘Large, growing middle class’
FOR his part, Cebu Pacific (CEB) president and chief commercial officer Alexander Lao said the carrier supports a more relaxed visa policy for Indian tourists, as suggested by a number of government and private tourism experts. “I need to see the actual policy regulation, but I think the Philippine government should continue to roll it out as India has a large and growing middle class,” he said.
Commercial operations [with India] will continue to be studied,” he added. He noted that CEB actually flew chartered Bayanihan flights during the pandemic bringing home overseas Filipinos caught by international travel bans from India.
W hile the Philippines and India have had an air service agreement
Tas more Filipinos bought memorial plans during the reference period, the Insurance Commission (IC) said.
“
The increase in total premium income could be attributed to the increase in the number of preneed plans sold during the said period, which totaled 419,044 preneed plans sold during the 1st half of 2023, or a 27.66-percent increase from the number of preneed plans sold during the same period last year,” the IC said in a news release on Monday.
T he IC said the number of preneed plans sold in the first half was 90,795 higher than the 328,249
preneed plans sold by the industry in the first half of last year.
IC data showed that majority of the preneed plans sold in the first half were life plans (418,605), followed by pension plans (429) and education plans (10).
“
Majority of the 419,044 preneed plans sold during the first half are memorial plans, which accounted for 99.89 percent of all preneed plans sold during the period,” the IC said.
St. Peter Life Plan Inc. topped the list of preneed firms in terms of total premiums as it registered P10.606 billion in total premiums during the reference period.
HE preneed industry’s total premium income in the first half rose by 9.45 percent year-on-year to P11.21 billionS t. Peter Life Plan Inc. alone accounted for 96.07 percent of the total premiums recorded by the entire pre-need industry in the first half.
T he IC said the preneed industry’s trust fund surplus in the first half reached P6.83 billion, as its investment in trust funds rose faster than its contingent liabilities in servicing active preneed plans sold to the public. The amount was more than triple the P2.048-billion trust fund reserve that the preneed industry had in the first half of last year, IC data showed.
As of the first half of 2023, investments in trust funds of preneed companies reached P125.37 billion, while contingent liabilities of preneed companies in servicing active preneed plans sold to the public amounted to P118.53 billion,” the IC said.
T he preneed industry’s total investment in trust funds rose by 7.37 percent from last year’s P116.759 billion while its preneed reserves grew by 3.33 percent on an annual basis from P114.71 billion recorded in the first half of 2022.
The Insurance Commission
actively monitors the investments in trust funds of each preneed company to ensure that said trust funds are enough to pay contingent liabilities of each preneed company based on the pre-need plans that they sold to the public,” the IC said.
Pursuant to Section 30 of the Pre-Need Code, preneed companies are required to establish a trust fund per preneed plan category (i.e. memorial, pension, or educational plan) that shall remain for the sole purpose of paying benefits to planholders,” it added.
Furthermore, IC data showed that the preneed industry saw its total assets, total liabilities, total net worth and total net income growing in the first half.
T he IC said the industry’s total net worth rose by 40.09 percent to P22.667 billion from P16.180 billion last year as its total assets outpaced total liabilities.
T he preneed industry’s total assets grew by 7.86 percent year-onyear to P148.802 billion; while its total liabilities increased by 3.57 percent from last year to P126.134 billion, according to the IC.
since 1949, there are currently no direct flights between both countries. To get to the Philippines, Indians have to travel via third country such as Singapore, Bangkok, or Kuala Lumpur. Despite the lack of direct flights, India was the Philippines’s 11th source market for tourists with arrivals reaching 134,963 in 2019, an 11.43-percent increase from 2018.
Among the world’s biggest spenders
PRIOR to the pandemic, Indian outbound travelers reached 27 million, growing at a compounded annual growth rate of 9 percent from 2011 to 2019. Last year, 21 million Indians traveled internationally, making it the largest source market of outbound tourists in Asia.
A ccording to a recent study by financial services consultants Nangia Andersen LLP and FICCI, there are about 80 million Indian passport holders. “India’s outbound tourism market will surpass US$40 billion by 2026 with an impressive doubledigit growth rate during the forecast period 2021-2026,” the report said.
Data from the United Nations World Tourism Organization also indicated the huge purse power of Indian tourists, who spend about $1,200 per capita on a holiday, versus Americans who spend $700, and Europeans, $500.
Senator Joseph Victor “JV” Ejercito, member of the Committee on Finance chaired by Sen. Juan Edgardo Angara, questions Justice Secretary Jesus Crispin Remulla during Monday’s (October 9, 2023) hearing on the Proposed 2024 Budget of the Department of Justice and its attached agencies. Several senators aired concern over the puny budget for intelligence funds of the DOJ’s cyber crime units despite most crime groups now using cyber tactics to carry out their activities. Sen. Ejercito bewailed the DOJ’s budget for intelligence work, at less than half a million pesos. ROY DOMINGO
SEVERAL senators agreed on the need to augment the budget of Department of Justice (DOJ) and the National Bureau of Investigation (NBI) for the efficient investigation and prosecution of cyber-related crimes.
At Monday’s budget deliberations led by the Senate for the proposed P34.486-billion budget of the DOJ and its attached agencies, Justice Secretary Jesus Crispin Remulla told the Senate Finance Committee chaired by Senator Sonny Angara that aside from the budget, the DOJ and NBI are short-handed in fighting cybercrime.
For instance, Remulla said, the DOJOffice of the Cybercrime only has 20 personnel while the NBI only has more than 400 agents deployed nationwide.
Remulla noted that 90 percent of crimes have cybercrime contents, thus, more investigators and prosecutors are needed to handle such cases.
“
We have only 20 people in our cybercrime unit. We will be needing at least 200 people for this. That’s why we really need some help here,” Remulla told senators.
He noted that even bank robberies are now being perpetrated online and through the use of cellular phones and other high technology.
Remulla cited also the need to upgrade the tools and capability of the NBI to make it on a par with cyber criminals.
S enator JV Ejercito lamented that the intelligence fund allotted for the NBI’s Cybercrime Division for 2024 was just P475,000.
Ejercito said if there is an agency that needs higher confidential funds, it is the NBI cybercrime division as it needs to go after hackers and other individuals operating various scams online.
We really need to put confidential funds, intelligence funds because as I mentioned, this is a new crime that we are facing right now, the new enemy we are facing right now,” Ejercito said.
N BI Director Medardo de Lemos admitted that increasing the intelligence fund of the NBI would greatly help the agency carry out its mandate.
The agency-wide intelligence fund allotted for the NBI is P175 million.
A mong the cases being handled by the DOJ and NBI cybercrime division are identity thefts, online scam or fraud, hacking of bank accounts and personal accounts, phishing, cyber libel, forensic accounting and other violations under the Cybercrime Prevention Act of 2012. De Lemos told the senators that the NBI is having difficulty hiring and training more men because the salaries being offered are not attractive aside from the lack of budget for the training of new personnel. “We don’t have a budget for the train-
ing, it was not approved by the DBM (Department of Budget and Management) because our organizational structure and staffing pattern (OSSP) has yet to finalize,” De Lemos said.
R emulla, said DOJ sought P290 million to hire and train more NBI agents next year, but the DBM only approved P8 million for the purpose.
Remulla asked the committee to allot a P100 million in support of the NBI academy, which trains new agents.
T he proposed budget for the DOJ and its attached agencies in 2024 is P34.486 billion. Of this, P4.57 billion is allotted to the NBI, which is 65.59 percent higher than 2023 budget, which was P2.76 billion.
W ith such budget, NBI commits to process more than 7.6 million applications for clearance within 10 minutes from receipts of the requirements and investigate 57,000 pending cases.
M inority Leader Aquilino “Koko”
Pimentel III lauded Solicitor General Menardo Guevarra for allowing the realignment of his office’s confidential fund (CF) to best-suited agencies of the government. Guevarra told senators the Office of the Solicitor General (OSG) had initially sought a P19-million CF from the Department of Budget and Management (DBM) for 2024, but decided to allow Congress to reallocate it to agencies in greater need.
“One good thing we heard from
the SolGen himself, he is giving up the CF given in the National Expenditure Program by the DBM for the OSG,” Pimentel said.
S enator Raffy Tulfo batted for additional budgets for the National Bureau of Investigation and the Bureau of Customs, proposing to cut down the Department of Agriculture’s P50-million confidential fund and reallocate it to the NBI and BOC.
M eanwhile, Sen. Nancy Binay wants to utilize technology to address the problem of human trafficking and the long queue at the airport’s Bureau of Immigration (BI) inspection area.
A ccording to Binay, the use of technology will resolve the BI’s problem with human trafficking and at the same the agency can protect the rights of Filipinos to travel without a delay. ”I also understand that it is very difficult to balance the need to prevent human trafficking and the need to respect the rights to travel of our countrymen ...but more than that, maybe the use of technology to background check or a software to trace if a person is in the criteria of not going on vacation,” Binay said. ”Do we have that capability?” the senator asked.
R emulla, who presented the DOJ budget, said they are now using new advance technology and the establishment of Electronic Gate (E-Gate) in all international airports in the country. With a report by Butch Fernandez
Preneed’s 1st-half premium income up 9.45% to ₧11.2BEditor: Jennifer A. Ng
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Tuesday, October 10, 2023
In its disclosure, Shakey’s said the Po family’s Century Pacific Group Inc. (CPG) and the Gokongweis’ Je holdings Inc. have purchased the shares held by GIC for P9.50 per share.
Shakey’s shares closed at P9.48 on Monday, or lower by 28 centavos from its previous close. GIC held 283 million shares, representing a
16.8-percent stake in the company.
CPG purchased 185 million shares, bumping up its holdings to 62 percent, while Je holdings took up 98 million shares, increasing its stake to 14.9 percent.
“GIC had been with Shakey’s prior to our IPO [initial public offering] in 2016. As strategic investors, they have been big supporters and have
added value to the company.
Thus, in turn, I am pleased that the company was able to generate gains for them. I am also grateful for the opportunity to increase our investments in PIZZA as we are firm believers and are excited by our future prospects. We are also grateful to the Gokongwei family for their belief in our company and the additional investment,” said Christopher T. Po, Shakey’s chairman.
“Since being elected in 2021 as a board member (of Shakey’s), I have seen the company navigate through a pandemic and emerge from it a better, more diversified group. This gives me confidence in the group’s vision and capability to execute. We are pleased with the opportunities that lie ahead, strongly support (Shakey’s) expansion in the years to come, and look forward to creating synergies with the Gokongwei group,” Lance
Gokongwei, chairman and President of Je holdings, said.
Je holdings entered as a strategic investor in 2021, infusing P1.25 billion in capital to support organic and inorganic opportunities. Since its entry, the group has expanded its portfolio of brands with the acquisition of Potato Corner, the leading kiosk-based flavored fries chain in the country, and realized synergies with Je holdings.
To date, Shakey’s has close to 2,000 stores and outlets globally, most of which are Potato Corner kiosks.
For the first half, Shakey’s said its attributable net income almost doubled to P489 million from the previous year’s P250.11 million.
The group recently upgraded its outlook for the year as it expects its topline and bottomline to grow by more than 30 percent.
By Andrea E. San Juan @andreasanjuanThe Bases Conversion and Development Authority (BCDA) has inked a memorandum of understanding (MOU) with United District energy International LLC (UDeI) and Marubeni Corp. in its bid to find suitable low-carbon district cooling technologies for New Clark City in Tarlac.
During its business mission in Tokyo last September, BCDA said it had inked a Memorandum of Understanding (MOU) with Qatarbased UDeI and Japan-based Marubeni for the conduct of a technical and commercial feasibility study that will explore the viability of a district cooling technology for New Clark City.
The state-owned firm said this sustainability initiative aims to help address high energy consumption
during the dry season, which is associated with “searing” temperatures especially in Central Luzon.
Under the one-year MOU, BCDA said it has agreed with Marubeni and UDeI to “discuss, share knowledge, and explore potential opportunities for collaboration leading to the preparation of conceptual and technical reports.”
BCDA President and CeO Joshua M. Bingcang said in statement on Monday that “a district cooling system in this sustainable metropolis will enable us to provide the most environmentally-friendly and costefficient solution to future residents and locators.”
“District cooling systems integrate highly-efficient centralized chillers, thermal energy storage tanks, and advanced control systems as a greener and smarter alternative to decentralized air conditioners.”
It noted that by utilizing these
systems in New Clark City, electricity consumption by future residents and locators will decline by as much as 50 percent, carbon dioxide emissions and pollution will be reduced, air quality and temperature control will be improved, and utilization of available space will be more efficient.
For his part, UDeI Director Yasser
Al Jaidah said, “We are committed to deliver cutting-edge solutions that not only redefine industries but also empower individuals and businesses to thrive in an ever-evolving world.”
“We at UDeI are dedicated to pushing the boundaries of innovation and excellence in our partnership with BCDA and Marubeni for the exploration of low-carbon district cooling technologies in New Clark City, Philippines.”
Representing Marubeni, Tai Miura, deputy general manager of the Overseas Power Department
of Marubeni said the firm is “fully committed to providing maximum support to help BCDA make its vision for New Clark City a reality.”
“Marubeni formulated its longterm vision for climate change in March 2021 and has positioned a green strategy as one of its basic policies for enhancing corporate value in its mid- term management strategy GC2024. Marubeni envisions the incorporation of district cooling technologies to make New Clark City as the best sustainable, smart, and green city in Southeast Asia.”
BCDA said it is maximizing renewable energy sources, promoting active mobility, conserving biodiversity, and setting aside 60 percent of the land area for parks, green spaces and water bodies.
“These initiatives are all in line with the BCDA’s commitment to a sustainable, smart, and green metropolis.”
GSK Plc clinched a partnership with Chinese vaccine maker Chongqing Zhifei Biological Products Co. to boost sales of its blockbuster shingles immunization locally.
Under the agreement, GSK will sell £2.5 billion ($3 billion) worth of its Shingrix shot to Zhifei over a three-year period.
The Chinese company, which already distributes Merck & Co.’s Gardasil, will promote the shot across 30,000 vaccination points to spur its uptake, GSK said in a statement Monday.
Tapping growing demand among China’s swelling ranks of senior citizens could help GSK reach its goal of doubling Shingrix’s revenue to more than £4 billion by 2026—especially as demand cools in other markets.
“With US Shingrix sales slowing, China therefore becomes a critical growth market,” John Murphy, an analyst at Bloomberg Intelligence, wrote in a note.
Zhifei rose to its daily trading limit of 20 percent in Shenzhen. GSK shares gained less than 1 percent in London. Bloomberg News
PT Barito Renewables e n ergy jumped on its first day of trading after raising 3.13 trillion rupiah ($200 million) in Indonesia’s fifth-biggest initial share sale this year.
Shares of the company owned by billionaire Prajogo Pangestu finished 25 percenthigher at 975 rupiah in Jakarta on Monday, hitting the upper limit allowed on the Indonesian stock exchange. The initial public offering (IPO) was priced at 780 rupiah, the top of its marketed range. About 4 billion shares were sold in the offering that was oversubscribed by more than 135 times, according to a statement on Monday.
Barito Renewables posted the best first-day performance among six companies that raised more than $100 million through listings in Indonesia since the start of the year, Bloomberg-compiled data show. It adds to a strong lineup of IPOs in Southeast Asia’s largest economy this year, where proceeds for 2023 have reached $3.44 billion.
The company “has great operational track record, robust long-term sales contracts providing for stable margins and cash flows, along with strong growth opportunities from its expansion plans,” said Mohit Mirpuri, a se-
nior partner at Singapore-based SGMC Capital, which invests in Indonesian IPOs.
It is the second geothermal power producer this year to list in the country, which is pushing for more investments in renewable energy. Indonesia, the world’s largest thermal coal exporter, wants to cut reliance on fossil fuels and meet its net zero emission goal by 2060.
The company will use the proceeds to partially repay debt to Bangkok Bank Pcl and to buy geothermal power plants in Java,
according to the prospectus of the offering.
“We hope that this initial listing can become a new benchmark for valuation of renewable energy companies in Indonesia and encourage more renewable firms to list on the IDX,” Chief e x ecutive Officer h e ndra Soetjipto Tan said on Monday. PT Barito Pacific, which owns 64.67 percent of the company, fell 4.8 percent on Monday, while affiliated coal miner PT Petrindo Jaya Kreasi rose 1.1 percent.
CONC e P CION Industrial Corp. (CIC) on Monday said it has forged a strategic partnership with JS Global APAC Pte Ltd. for the exclusive distribution of Shark and Ninja branded products in the Philippines.
Shark and Ninja are globally recognized brands known for innovative and high-quality home appliance products, the company said.
“This collaboration marks a significant milestone in the company’s commitment to delivering cuttingedge and high-quality products to the Philippine market,” the company said.
The Shark brand is known for its robot vacuum cleaner, while the Ninja brand is known for its kitchen appliances, such as blenders and air fryers.
CIC Chairman and CeO Raul Joseph A. Concepcion expressed his excitement about the partnership.
“We are delighted to partner with JS Global APAC to bring their innovative products to the Philippines. Our commitment to improving the lives of Filipino consumers is perfectly aligned with JS Global APAC’s mission to redefine home appliances that offer real solutions for real life.”
The introduction of SharkNinja products to the Philippine market is expected to “revolutionize” the
way consumers approach home maintenance and cooking. The upcoming product range covers three key areas of daily life, such as hair styling, kitchen tasks and home cleaning.
SharkNinja claims to be a pioneer in small household appliances in America, which grew into a portfolio of trusted and global home appliance brands driving rapid growth and innovation across multiple categories in the United States and the United Kingdom.
JS Global holds the exclusive legal rights to the trademarks for the brand names Shark and Ninja in connection with the licensed products in Asia Pacific. It is a company incorporated in hong Kong and is a wholly owned subsidiary of JS Global Lifestyle Company Ltd., a leading small household appliances group operating major brands including Shark and Ninja.
The Shark brand was founded in 2007 by entrepreneur Mark Rosenzweig with the launch of the no-lossof-suction vacuum technology that spurred a new era in home cleaning. Shortly thereafter, the executive bench was expanded to include Mark Barrocas as SharkNinja’s president and second-generation co-founder driving the launch of the Ninja brand in 2009. VG Cabuag
Shakey’S Pizza asia Ventures Inc. on Monday said the holding firm of the Po family and the Gokongwei Group have acquired the entire stake of Singapore sovereign wealth fund GIC Pvt Ltd. in the company.
GSK ties up with Chinese vaccine maker
Lumagui Jr. was quoted in a statement
the BIR released last Monday.
as amended).
BIR Revenue Regulation (RR)
12-2023 exempts agricultural foodproduct suppliers, producers, sellers, contract growers and millers from issuing receipts if their annual gross
sales or receipts are below P1 million.
“Small farmers do not need to issue receipts. The BIR will do its part in making the lives of our farmers easier,” BIR Commissioner Romeo D.
THE sunk cost fallacy refers to our tendency to continue doing something simply because we have already invested time, money or effort, even when the current or future benefits are minimal or non-existent.
In other words, we let past investments, which are sunk costs, influence our decision-making instead of objectively evaluating the situation. For you to better understand how the sunk cost fallacy works, let me share some examples.
Example 1: A bad movie. Let’s suppose that you went to the cinema to watch a new movie. However, after 30 minutes, you realize that the movie is terrible and you’re no longer enjoying yourself.
Despite this, you decide to stay and finish the movie because you’ve already paid for the ticket and don’t want to let it go to waste. So, you sit through another hour of bad acting and a mediocre story instead of just going out of the cinema and doing something that could be more fun or productive.
Example 2: A home renovation project. Imagine you decide to renovate your home and you allocate a significant budget for the project. As the renovation progresses, you encounter unexpected complications and additional costs. The project begins to exceed both your initial budget and the estimated completion time.
Despite these challenges, you continue putting more money and time into the renovation, believing that you have to see it through since you’ve already invested so much.
However, suppose you objectively assess the situation and consider the current and future costs, as well as the impact on your finances and well-being, you might realize that continuing the project no longer makes sense. Cutting your losses and redirecting your resources may be a more sensible decision.
Example 3: Stock investments. Suppose you invest in a stock that starts to decline in value. As the stock price continues to drop, you might hold onto it because you don’t want to “realize” your losses. You convince yourself that the stock will eventually rebound, even if the evidence suggests otherwise.
By holding onto a losing investment solely because of the money you’ve
fitz Gerard Villafuerte persoNaL fiNaNcealready invested, you fall victim to the sunk cost fallacy. Now that we understand the sunk cost fallacy and how it can impact our decision-making, let’s discuss some strategies for dealing with it effectively.
1. Accept the sunk costs. Recognize that the time, money or effort you’ve already invested is gone and cannot be recovered. Instead of fixating on what you’ve already lost, focus on the present and future costs and benefits of the decision at hand.
2. Reevaluate the decision objectively. Step back and evaluate the situation. Consider the current and future costs, benefits, and risks involved rather than being swayed by past investments. Ask yourself if the decision aligns with your current goals and if it makes financial sense based on the available information.
3. Seek outside perspectives. Sometimes, we can be too emotionally-invested in a decision to think clearly. Seeking advice from trusted individuals, such as financial advisors or mentors, can provide fresh perspectives and help you see beyond the sunk costs.
4. Cut your losses. If, after careful evaluation, you determine that a decision is no longer viable or aligned with your goals, be willing to cut your losses. Getting out of an unproductive investment or venture can free up resources and energy to pursue more promising opportunities.
In conclusion, the sunk cost fallacy is a common cognitive bias that can impact financial decision-making. We can make more rational and practical choices by accepting sunk costs, reevaluating decisions objectively, seeking outside perspectives, and being willing to cut our losses.
Fitz Villafuerte is registered financial planner of RFP Philippines. To learn more about personalfinancial planning, attend the 104th RFP program this October 2023. To inquire, e-mail info@rfp.ph or text at 0917-9689774
Lumagui added that the BIR will only require receipts if the annual gross sales and/or receipts of a farmer exceed P1 million. The BIR chief explained the revenue collector decided to remove the requirement of principal and supplementary gross sales and/or receipts for the sale of agricultural food products by small farmers as part of its “ease of doing business” and “taxpayer’s service” program delivery.
According to Lumagui, RR 122023 is in line with the provisions of the National Internal Revenue Code of 1997 (Republic Act 8424,
In its the latest regulation, the BIR defines agricultural food products as those sold in their “original state.”
These are goods “generally used for yielding or producing food for human consumption such as farm produce, livestock, poultry, marine product, ordinary salt and agricultural inputs.”
The BIR RR 12-2023 also exempts agricultural products that underwent a “simple” process of preparation or preservation. “The said agricultural food products shall still be covered by these Revenue Regulation even if they have undergone the simple processes of preparation or preservation for market, such as freezing, drying,
salting, broiling, roasting, smoking, or stripping, including those using advanced technological means of packaging such as shrink wrapping in plastics, vacuum packing, tera-pack, and other similar packaging method,” RR 12-2023 read.
Despite being exempted from the issuance of receipts, the BIR instructed agricultural producers to still record every sale transaction they made in a “simplified” sales book. The information in their sales book must contain the following: date of transaction; description of goods sold or services rendered; registered name; registered address; taxpayer identification number of purchaser
(if engaged in business); amount of sales; amount of tax withheld, if any; and, the net amount received.
“If the annual gross sales/receipts exceed [P1 million] at any time during the taxable year, the agricultural producer shall be required to issue official receipts or sales invoices for every subsequent transaction valued at P100 or more,” the BIR said.
The BIR added that agricultural producers would still be exempted from the issuance for receipt or invoice even if they earn from the sale of goods or services other than agricultural food products as long as the annual aggregate gross sales or receipts do not exceed P1 million.
THE Department of Justice (DOJ) has declared that the operators of the Clark International Airport (CIA) must collect and remit aviation security fees to the Bureau of Treasury (BTr) amounting to P60 and P15 from every outbound international and domestic passenger, respectively.
In a 2-page legal opinion, Justice Secretary Jesus Crispin C. Remulla stressed that as long as airports are collecting aviation security fees, they are mandated to remit the same to the national treasury.
The DOJ issued the legal opinion late last month upon the request of Department Office of Transportation-Office of Transportation Security Undersecretary Ma. O R. Aplasca.
In his letter, Aplasca sought the DOJ’s opinion on the collection and remittance of aviation security fees by the Clark International Airport Corp. (CIAC).
Particularly, Aplasca asked the DOJ if the Luzon International Premier Airport Development (Lipad) Corp. is mandated under Letter of Instruction (LOI) 414 and LOI 414A (series of 1976) to collect and remit the fees to the BTr in accordance with National Budget Circular 361 (series of 1985).
Aplasca also sought the DOJ’s legal position on whether Lipad is obligated by Executive Order 30 (series of 1998) to collect aviation security fees from every departing international and domestic passenger and remit the same to the BTr.
Nacah
IN its legal opinion issued on September 25, 2023, the DOJ said that a review of LOI 414 and LOI 414-A, as well as other related issuances, “readily shows that so long as airports, regardless of whether under the supervision of the Civil Aviation Authority of the Philippines (CAA) or nor, are collecting ASF, they are mandated to remit the same to the BTr.”
Remulla explained that under
the said LOIs, the purpose for the collection of the fees is to subsidize the National Action Committee on Anti-Hijacking (Nacah), a committee created by virtue of LOI 399, which was signed by then President Ferdinand E. Marcos, two months prior to the issuance of LOI 414 and LOI 414-A.
The DOJ secretary pointed out that the Nacah has been reconstituted as the Office for Transportation Security (OTS). The OTS, the legal opinion explained, is now tasked with “formulating plans for, coordinating, integrating, directing, controlling and supervising all measures aimed at preventing or suppressing any and all forms of hijacking; ensuring the safe and continuous operation of civil aviation; and handling all incidents of hijacking to include immediate and follow-up actions to be taken up to the termination or resolution thereof.”
“In short, it was created to be responsible for the security of the transportation systems of the country, including civil aviation,” the DOJ
said. “Considering the foregoing, we are of the opinion that the CIAC/ LIPAD must collect and remit the amount of P60 and P15 for every departing passenger” pursuant to Sections 1 and 2 of EO 30 (series of 1998), respectively.
Lipad
THE website of JG Summit Holdings Inc. (PSE: JGS) explains that Lipad is a special purpose company established to manage the operations and maintenance of the Clark International Airport. Aside from the Gokongwei-led JGS, its members include Filinvest Development Corp., Philippine Airport Ground Support Solutions Inc. and Changi Airports Philippines (I) Pte. Ltd. The latter is a wholly-owned subsidiary of Changi Airports International.
It was on August 16, 2019, when Lipad was formally awarded the operations and management project of the Clark International Airport and surrounding project land, the JGS website read.
THE Treasury made a partial award across all tenors of its Treasury bills (T-bills) during Monday’s after rejecting some of the investors’ asking yields that the Treasury deemed beyond acceptable levels.
The Bureau of the Treasury (BTr) was able to raise only P12.518 billion out of its P15 billion programmed amount for the tender after average yields rose across the board.
The Treasury raised P4.788 billion from 91-day T-bills, P4.410 billion from 182-day debt paper and P3.32 billion from the 364day government security.
The average yields for the three tenors of the tendered T-bills grew on a weekly basis and were higher compared to their secondary market benchmark levels.
The 91-day T-bills settled with an average yield of 5.806 percent while the 182-day and 364-day fetched average rates of 6.115 percent and 6.305 percent, respectively.
The rates during last week’s T-bills auction were 5.698 percent for 91-day, 6.023 percent for 182-day and 6.215 percent for 364-day.
The latest secondary market benchmark levels for the government securities were at 5.712 percent for 3-month, 6.011
percent for 6-month and 6.244 percent for 1-year T-bills.
Investors sought yields between 5.74 percent and 5.875 percent for the 91-day T-bills. Meanwhile, they sought rates from 6 percent to 6.175 percent for the 182-day government security while the 364-day Tbills fetched rates from 6.275 percent to 6.325 percent.
The auction remained oversubscribed as total bids reached P22.6 billion, about 1.5 times higher than the programmed amount, according to the Treasury.
The demand for the 91-day T-bills reached P6.898 billion, P7.646 billion for the 182-day and P8.020 billion for the 364day T-bills.
Monday’s tender results marked the second consecutive week that the Treasury was unable to make a full award of T-bills auction.
Pundits have earlier noted that investors may demand higher yields this month due to elevated inflation print of the country.
For October, the Treasury plans to raise P150 billion from the domestic market through the auction of P60 billion T-bills and P90 billion Treasury bonds.
Jasper Emmanuel Y. ArcalasMALAYSIA’S main objective for seeking former Goldman Sachs banker Roger Ng’s return to the country is for him to help authorities recover more 1MDB assets linked to the US bank, according to Home Minister Saifuddin Nasution.
There is no time limit for how long Ng will remain in Malaysia, Saifuddin told reporters in Putrajaya last Monday.
“It will depend on how fast the enforcement agencies handle the investigation and what comes out of it,” he said. Ng, a Malaysian, arrived in the Southeast Asian nation over the weekend.
Malaysia is focusing on recovering as much as possible from the billions of dollars looted from the 1MDB sovereign wealth fund. The
development company took shape in 2009 under former Prime Minister Najib Razak, who was imprisoned last year for corruption and is currently seeking a royal pardon.
Goldman made $593 million working on three bond sales that raised $6.5 billion for 1MDB in 2012 and 2013. Under a July 2020 settlement, Malaysia dropped all criminal charges against the bank over its role in the scandal in exchange for a $2.5 billion cash payment and for the guaranteed return of $1.4 billion of seized 1MDB assets.
Ng was convicted in the US in connection with 1MDB, and was scheduled to begin a 10year prison sentence on Oct. 6. But US officials allowed the sentence to be deferred so that Ng could return to Malaysia and assist the investigation.
Bloomberg News
THE Standard Chartered Bank (SCB) announced on October 4 its support to the country’s steady recovery from the global pandemic continues by helping micro-scale and small-sized businesses to succeed.
A statement issued by the SCB read its officers recently visited women-led microentrepreneurs in the Bicol region who are recipients of the lender’s Covid-19 recovery program in partnership with microfinance institution Tulay sa Pag-Unlad Inc. (TSPI).
According to SCB, the microfinancing project launched last year has benefited more than 400 youth and women
microentrepreneurs, “giving them affordable funding to restore, diversify and expand their microbusinesses.”
“Some of the program recipients have re-availed and are now on their second, bigger loan cycle to further boost their business operations,” the financial instution’s statement read.
The bank said it “continues to promote greater inclusion across its markets” through the bank’s global program that it said “tackles inequality by supporting disadvantaged youth, especially women, through initiatives anchored on the pillars of education, employability and entrepreneurship.”
SCB said its employees also conducted a learning session on product marketing and entrepreneurship to teach the beneficiaries how to build brand awareness, reach new markets and increase their sales.
One of the most effective ways to promote economic inclusion is to support micro-scale, small-scale and mediumsized enterprises, “which are the backbone of the Philippine economy,” SCB Head of Corporate Affairs, Brand and Marketing Mai G. Sangalang was quoted in the statement as saying. “It is humbling to see the positive outcomes of the project and meet some of the young
women entrepreneurs who turned adversity into opportunity during the pandemic. Their stories of resilience and grit are truly inspiring.”
TSPI Executive Director Alice Z. Cordero was quoted in the statement as saying her organization is “grateful for the chance to partner with SCB so that we can help more young enterpreneurs in our Bicol branches.”
“This continuing endeavour will truly inspire and empower more of our members to deepen their faith, dream bigger and work hard and better for their families and for their communities,” Cordero added.
THE Bureau of Internal Revenue (BIR) announced it has exempted small-scale farmers from issuing receipts if their annual gross sales do not exceed P1 million.
BTr:
‘beyond
NOTED abstractionist Macoy Coching, 42, poses with some of the artworks part of his new moonscapes series for his show La Luna Llena. The solo is part of Artes Orientes’ presentation at ManilART 2023, which runs for five days starting tomorrow at SMX Convention Center Aura in SM Aura Premier, Taguig.
LEGACY artists bear an innate conundrum that comes with their prominent last names. In following the footsteps of their renowned predecessor, they face a fork in the road of whether to bank on the established family brand, or to veer away and carve their own path.
A YOUNG Macoy Coching with his grandfather, the late National Artist Francisco V. Coching
Most, of course, prefer the latter. At least this was my thinking heading to a recent interview with abstractionist Marco “Macoy” Coching, the grandson of the late National Artist Francisco V. Coching (1919-1998). The intention was to know the 42-year-old painter for who he was beyond his last name. Interestingly, however, almost every topic we discussed deliberately circled back to his lolo, hailed as the “Dean of Filipino Illustrators.”
To this day, even the biggest superhero illustrators at global comics publishing giants Marvel and DC look up to the “Kenkoy” creator for his superhuman illustrating abilities. (Macoy singled out his grandfather’s ability to perfectly depict the human anatomy at unique angles. Take, for instance, a cowboy riding a horse and dramatically drawing from his holster, all presented from a tilted worm’seye view. Keep in mind that this was in the mid-20th century, pre-dating advanced cinematic camerawork. In drawing such bold, purely imagined scenes, the elder Francisco had to rely on himself modeling on the house mirror for reference.)
The late National Artist enjoyed a four-decade career that produced several comic novels and successful film adaptations, including famous titles like Pedro Penduko. Without skipping a beat, Macoy credits his grandfather as his biggest artistic influence, his inspiration, his idol.
“Sobrang idol ko talaga ang lolo ko,” said Macoy with a slight smile but glowing affection in his eyes.
It then became apparent that Macoy’s answers come from honest intentions. It wasn’t a case of someone trying to benefit from his bloodline. Besides, the name Macoy Coching already has quite the recall in its own right on the strength of his distinct abstractions. Rather, Macoy singing praises of the elder Francisco was simply a grandson in perpetual awe of his beloved lolo
The two shared a special bond. Macoy spent hours in the home office where his grandfather worked on industry-defining illustrations that his young mind hadn’t fully understood yet. What mostly mattered to him back then was if his lolo would be able to grant his requests for drawings. The elder Coching often complied, illustrating Macoy’s favorite childhood characters such as Pinnochio. Sometimes, the sketch was a playful mustache right on his little face.
It’s those golden moments that explain why Macoy carries the family name with much pride. He even wears it on its skin, with the trademark Coching signature tattooed on his right arm, as a proud apo of Francisco.
Francisco Coching was posthumously conferred as a National Artist for Visual Arts in 2014. He passed away at the age of 78 in 1998 when Macoy was around 16. Back then, Macoy was just beginning to find his artistic touch, drawing mostly portraits. He tried to imitate his lolo’s style but fell short despite his best
efforts. said. “’
where he continued to paint during lunch breaks to sell paintings of flowers for extra income.
His art eventually caught the attention of a gallery owner in Malate, who would host his first solo exhibition in 2010. Out of the 20 featured artworks, 15 pieces were sold. Macoy never looked back and decided to become a full-time artist. The thirdgeneration Coching knew that to be successful, he had to come up with a style entirely his own. He wanted something out of this world, taking inspiration from the otherworldly fantasy landscapes of English artist Roger Dean, whom he knew about from a book in his lolo’s office. But given his figurative training, his whimsical pursuit proved difficult to achieve.
A turning point came on a trip with his aunt to the Ayala Museum. Macoy was instantly enamored by the works of Fernando Zóbel and his brand of abstractions. The style spoke to him. He felt it to be liberating and free. No rules, nothing.
Macoy devoted himself to abstract painting. He spent countless hours experimenting with different forms, struggling to break through, before stumbling upon a device lying around in their house. He believes that his lolo guided him towards the item, which helped him create the pristine wave patterns that have now become his signature style.
THE MOON RISES IN ‘LA LUNA LLENA’
MACOY COCHING has become a highly regarded
creations and opens up the opportunity for even more
By Eugenia LastCELEBRITIES BORN ON THIS
DAY: Jodi Lyn O’Keefe, 45; Mario Lopez, 50; Wendi McLendon-Covey, 54; Nora Roberts, 73.
HAPPY BIRTHDAY: Designate time and energy to help a cause or to rectify a concern you want to amend. Refuse to let domestic situations interfere with your purpose. A couple of financial adjustments will put your mind at ease and encourage you to restructure what’s essential and how you plan to do your part. Don’t waste energy on people or situations that don’t fit your plans. Prioritize. Your numbers are 9, 13, 22, 29, 31, 36, 42.
ARIES (March 21-April 19): Listen, assess and move along. Don’t waste time on someone or something that has no future. Look for solid opportunities and put a contract that protects you, your ideas and your long-term goals in place. When opportunity knocks, open the door.
★★★
TAURUS (April 20-May 20): Don’t share too much information. Mull over what you hear, verify facts and use what you learn to secure your position. Follow your heart and take advantage of an opportunity that offers a shift in how you use your skills to dominate the competition. ★★★★★
GEMINI (May 21-June 20): Making moves based on emotion will leave you confused. Think before you put more energy into restructuring your lifestyle and professional goals by picking up knowledge and skills to help you advance. Networking functions will reveal what’s available. Protect against illness or injury.
★★
CANCER (June 21-July 22): Stick to what you know and do best. An unexpected offer will put you at ease and help you decide where or how you choose to live. A change will offer security and prompt you to spend less time with people who don’t have your best interests in mind. ★★★★
LEO (July 23-Aug. 22): Concentrate on detail and expense involved before making a move, investment or contractual shift. Get your facts straight and find out if any updated information can help you make a difference in how well you communicate and get along with others. ★★★
VIRGO (Aug. 23-Sept. 22): Take a look at your current situation and consider the changes that will rectify whatever isn’t working for you. Find a unique way to use your money and skills to make a difference in where or how you live. ★★★
LIBRA (Sept. 23-Oct. 22): Put on your adult pants and make a stance. How you use your skills and connections to make your community better will have a stabilizing effect on what matters to you. Participation will capture attention and encourage others to do their part. ★★★★
natural satellites all rendered in blue hide behind the streaky waves. In The Moon is Up, the subject appears smaller in scale and grayer in tone but reveals itself in all its spherical beauty.
Elsewhere we see bolder colors of red, yellow, orange, and even shades of green. Coching harnessed the idea from observing the sunset at his condo’s rooftop, where he took mental notes of the sky’s changing hues.
Coching once again pointed to his grandfather’s influence on what makes his textures deeply layered. One of the few things he was able to learn from his lolo was executing gradients in watercolor, saying he has always enjoyed coloring over drawing.
Another vital component of Coching’s works is his painstaking art creation. Tedious and “boring,” as he puts it plainly, the process is not for everyone. Yet he remains excited about going over every single part of it, especially if he comes up with a new concept. His process requires great patience and a high level attention to intricate details, which, he said once more, are qualities he picked up from his grandfather. More than two decades after his lolo’s passing, Macoy remains the grandson who idolizes his grandfather. He continues to learn from him every day as he goes deeper into his own journey in the arts.
Parang may naga-guide talaga sa ’kin,” Coching said with a knowing smile, hinting that I knew exactly who he was referring to. ■
SCORPIO (Oct. 23-Nov. 21): Revisit your options, choose and follow through. Express your desires, and don’t back down under pressure. Change is necessary, but it must align with your long-term plans. Refuse to let anyone railroad you into something you do not want. ★★★★
SAGITTARIUS (Nov. 22-Dec. 21): Take the path that offers the freedom to follow your heart’s desire. Refuse to let anyone infringe on you or your plans. Use your intellect to pick and choose who you confide in and what you pursue. Don’t let personal issues collide with financial stability. ★★★
CAPRICORN (Dec. 22-Jan. 19): Take inventory before taking on something new. Don’t fall for someone’s investment plan. Stick to what you know and do your own thing. Build a strong base, make changes at home conducive to your needs and empower yourself. ★★★★★
AQUARIUS (Jan. 20-Feb. 18): Reach for the stars. Believe in yourself and structure your day to elaborate on a plan that supports saving, improved lifestyle and contractual protection. Don’t let someone interfere or enforce changes on you that aren’t necessary or in your best interest. ★★★
PISCES (Feb. 19-March 20): Your discipline will pay off. Look for an opportunity to partner with someone who can fill in the blanks regarding the skills or experience you lack so that you can focus on what you do best. Put everything in writing to avoid setbacks. ★★★
BIRTHDAY BABY: You are talkative, forceful and changeable. You are unique and assertive.
Press
LOS ANGELES—The Exorcist: Believer drove out all foes at the box office, but its numbers didn’t entirely make heads spin.
Facing competition from no major new releases, the latest resurrection of the demonic franchise brought in $27.2 million in North America in its opening weekend for Universal Pictures and Blumhouse Productions, according to studio estimates on Sunday. That was more than the weekend take of the next three films combined. But while it nearly earned back its reported budget of $30 million in just a few days, the take for The Exorcist: Believer was underwhelming after the two companies paid $400 million in 2021 for the rights to a new trilogy.
Last week’s top film, Paw Patrol: The Mighty Movie, was a distant second, with $11.8 million, and has earned $38.9 million after two weekends for Paramount Pictures. Another horror sequel, Saw X, was third for Lionsgate Films, with $8.2 million, and has brought in $32.6 million after two weekends. Horror films made up four of the top 10, and they could see some sustained numbers as Halloween comes closer.
THERE has been no real rest day for actor Paul Jake Paule in the past few weeks. The award-winning theater, TV and film actor told us that he is shuttling from one project to another, traversing the streets of the metropolis on his motorbike from one venue to the next, often braving the unpredictable afternoon showers just to make it on time for his performances and rehearsals.
The pleasant, pragmatic and very passionate Paule performs with the wonderful cast of Anak Datu at the Cultural Center of the Philippines’ Black Box Theater, takes on the lead actor role in Gantimpala Foundation’s Florante at Laura, and calls the shots for Artist Playground’s Kaming mga Nangalagas sa Dilim as director.
“I really don’t mind. I have gotten used to being busy after the big lull during the pandemic months that put a long break to most of the performing artists. It’s true that it can get tiring, but this is the career I have chosen, and I am enjoying every role I take on and every production and project I commit myself to,” he said. Paule shared that there are nights when he just jumps onto his bed upon arriving at home.
“I’d normally grab a bite during breaks or when I’m headed to my next schedule. I also hydrate a lot and take my vitamins. It’s good that I fall asleep fast and upon waking up, I take my morning coffee, remind myself of my tasks and schedules for the day, take a nice shower and off I go to my engagements.”
Paule is both thrilled and thankful to have been entrusted one of the main roles in the latest staging of Tanghalang Pilipino’s Anak Datu, a multiverse production that tells of three intertwining stories in drama, song and dance from the wonderful script of Rody Vera and the meticulous direction of Chris Millado. Paule gives life and soul to the character of Abdulmari Imao, Sr., National Artist for Visual Arts. Reviews have started to come out from hardto-please critics, and Paule’s consistently heartfelt performance continues to be singled out, together with a well-picked cast that includes Tex Ordoñez (Putli Loling), Carlos Dala (Toymie), Toni Yadao (Grace de Leon) Gie Onida (Jibin Arula) and Tausug actor Ramli Abdurahim (Jikiran).
When Anak Datu wraps up its run this weekend, Paule will channel his energy to a theater company closest to his heart, Artist Playground. As resident director, Paule calls the shot for Kaming mga Nangalagas ang Dilim, a stunning adaptation of Jose Rizal’s Noli Me Tangere performed by its mostly young cast at the Robinsons Galleria Cinema.
“I feel energized every time I work with young people, because their energies are so infectious, their talents can be both raw and riveting. I also learn a lot from them and their generation,” he gushed.
Paule also looks forward to acting on television and the movies again. “Acting is my artistic soul’s thirst quencher. It keeps me going and pushes me to move forward happily and allows me to explore many untapped possibilities and new avenues.”
The future looks bright for Paul Jake Paule, and he continues to soar to greater heights with every new project.
“It seems like the demand for the horror genre by audiences is never ending,” said Paul Dergarabedian, senior media analyst for comScore. “The communal theater experience is tailor-made for it.”
The new Exorcist was released just shy of the 50th anniversary of the original horror classic, and it comes just two months after the death of the original film’s director, William Friedkin.
Directed by David Gordon Green, who has become a legacy sequel specialist after helming a trilogy of Halloween films, The Exorcist: Believer stars Hamilton actor Leslie Odom Jr., with Lidya Jewett as his 13-year-
old daughter. The film got poor reviews—managing a critics score of just 23 percent on Rotten Tomatoes. Jake Coyle of The Associated Press was more charitable than most in his review, giving it two stars out of four for its lead performances and sure-handed direction but saying it “never manages anything like the deep terror of the original.”
The release of The Exorcist was moved up a week to avoid competing with the juggernaut of next weekend’s concert film, Taylor Swift: The Eras Tour.
“I think they made a good call actually,” Dergarabedian said. “All the oxygen is going to be sucked out of the room.” The storm of Swifties in cinemas could make for a $100 million weekend and set several new precedents for concert movies.
“This is on an order of magnitude beyond anything
we’ve seen,” Dergarabedian said.
The weekend finally saw Barbie fall from the box office top 10 for the first time since its July 21 release, after well over $600 million in domestic earnings and more than $1.3 billion globally.
Estimated ticket sales for Friday through Sunday at US and Canadian theaters, according to comScore:
1. The Exorcist: Believer, $27.2 million
2. PAW Patrol: The Mighty Movie, $11.8 million
3. Saw X, $8.2 million
4. The Creator, $6.1 million
5. The Blind, $3.1 million
6. A Haunting In Venice, $2.6 million
7. The Nun II, $2.1 million
8. Dumb Money, $1.8 million
9. The Equalizer 3, $1.8 million
10. Hocus Pocus (1993 rerelease), $1.5 million. n
tHe show’s crew has indeed moved into their new home—that is, their new studio set that was revealed to viewers on October 2.
aF teR stirring curiosity online with various “lilipat na kami ” posts, the cat is finally out of the bag. Unang Hirit (UH ), the Philippines’ longest-running morning show, redefines the way viewers and netizens start their day. the UH crew has indeed moved into their new studio set that was revealed to viewers on October 2.
WORLD-CLASS DESIGN
tHe new studio set seamlessly blends innovation, technology and aesthetics while remaining deeply committed to the values of public service. the latest news and information are readily available to the public at the start of the day, coupled with entertaining segments and surprises for loyal viewers. and what better way to enjoy these than having them complemented by a studio set that has been meticulously designed to offer a more engaging experience for today’s viewers. the show’s ‘new home’ mirrors its vibrant personality, combining aesthetics and function with innovative elements. these include a 360-degree rotating platform, Led video walls and differently-oriented plasma displays including an interactive monitor. in addition, the new set enables Unang Hirit to effectively illustrate content through the use of RedSpy, an optical tracking system that allows immersive graphics executions. the new studio set was designed by the US-based company FX design Group, renowned for its use of cuttingedge technology in projects for some of the world’s top broadcasters. FX has claimed numerous emmy awards for its set and lighting designs, along with several PromaxBda
awards for broadcast design and four Newscast Studio Set of the year awards.
Kevin Vicker of FX design Group shared his inspiration behind the set: “My inspiration for the studio is really the GMa team. they are a world-class team, so i knew FX should give them a world-class studio. i think what makes it unique is the combination of both beauty and function—it’s a beautiful set, very colorful, bright, modern; it really reflects the personality of the studio and the people in the Philippines,” he added. the new set was constructed with the help of Script2010, the in-house construction arm of GMa Network, and GMa s engineering department, which has been responsible for the creation of GMa s studios over the years.
GMa Public affairs vice president arlene Carnay underscored the importance of constantly infusing new offerings to a morning show like Unang Hirit this studio marks a milestone for Unang Hirit with its world-class technology and thoughtful design, we are set to elevate our presentation of news, information and public service. each area is intentionally crafted to provide a more dynamic morning viewing experience. Para mas lalong gaganda ang gising kasama ang Unang Hirit,” shared Carnay. while Unang Hirit ’s studio set has undergone a transformation, the show’s core values remain the same. the brand of public service journalism the show is known for continues to be at the forefront of everything. Unang Hirit has become part of Filipinos’ lives for more than 23
years already, and mornings are incomplete without the show’s crew. anchors arnold Clavio, Susan enriquez, ivan Mayrina, and Mariz Umali remain dedicated to bringing stories that matter, ensuring viewers are well-informed to kickstart their day.
the team expressed their excitement over their new ‘home.’ Ang major transformation na ito [ay] para sa mas level-up na paghahatid ng balita at impormasyon, saya at pagpapatuloy ng Serbisyong Totoo. Sana pati ang mga viewers namin natuwa,” said Clavio.
Viewers can also look forward to more fun, exciting segments, and surprises as the show’s crew invigorates their mornings.
Suzi abrera and Lyn Ching provide practical tips for every household, while Matteo Guidicelli introduces inspiring stories of ordinary Filipinos in his interviews. Keeping viewers updated on the latest food trends and business ideas is Chef JR Royol, while attorney Gaby Concepcion’s “Kapuso sa Batas” continues to empower the public by helping them understand their rights. Further, weather presenter anjo Pertierra keeps everyone updated with the latest weather conditions.
Bringing an extra dose of morning cheer and surprises are “Morning Sunshine” Shaira diaz and “Morning Oppa” Kaloy tingcungco.
Unang Hirit airs weekdays beginnings at 5:30 am on GMa and its official Facebook page. Global Pinoys can also catch the program via GMa Pinoy t V. More information is available at www.gmanetwork.com
Paul Jake Paule ascends to greater heights with every new role
‘Unang Hirit’ debuts new set to give viewers dynamic, cutting-edge morning experienceLovE Before Sunrise stars andrea torres, dennis trillo, Sid Lucero at the new set of Unang Hirit. UnAng Hirit debuts new set to give viewers dynamic, cutting-edge morning experience.
work and dedication of our entire team. It demonstrates our unwavering commitment to the safety and security of our guests and team members. We want every guest to feel comfortable and secure during their stay with us.”
The Safehotels Executive Level Certification recognizes the hotel’s excellence in various areas, including:
1. Safety and Security Management: Radisson Blu Hotel Cebu has implemented robust safety and security policies and procedures, ensuring the well-being of everyone on the premises.
2. Emergency Response: The hotel has a comprehensive emergency response plan in place, ensuring a swift and effective response to any unforeseen incidents.
3. Crisis Management: Radisson Blu Hotel Cebu has demonstrated its ability to manage crises effectively, minimizing their impact on guests and staff.
SM Hotels & Convention Center’s Radisson Blu Hotel Cebu proudly announces its recent achievement of the prestigious Executive Level Certification from Safehotels, a globally recognized certification program for safety and security in the hospitality industry and is also recognized by the United Nations International Strategy for Disaster Reduction. This certification marks a significant milestone in Radisson Blu Hotel Cebu’s commitment to providing the highest standards of safety and security for its guests and staff, as the hotel receives this for a 5th consecutive year.
Safehotels is a leading and independent hotel safety and security certification company that assesses and certifies hotels based on a comprehensive and rigorous set
of global standards. The Executive Level Certification is the highest level awarded by Safehotels and signifies exceptional commitment to guest safety and security.
The certification process is meticulous, involving a thorough examination of the hotel’s safety and security procedures, staff training, emergency preparedness, among other critical aspects. Radisson Blu Hotel Cebu underwent a comprehensive evaluation, which included audits, risk analysis, and on-site assessments to ensure compliance with Safehotels’ stringent criteria.
Marko Janssen, General Manager of Radisson Blu Hotel Cebu, expressed his delight at the achievement, stating, “Receiving the Executive Level Certification from Safehotels is a testament to the hard
4. Staff Training: The hotel’s staff has received specialized training to handle safety and security matters competently.
5. Guest Communication: Clear and concise information is provided to guests regarding safety and security procedures within the hotel. Radisson Blu Hotel Cebu’s achievement of the Executive Level Certification is not only a recognition of its current efforts but also a commitment to maintaining and continually enhancing the guest experience by providing a safe and secure environment for all. For reservations and other inquiries, call 032 402 9900 or e-mail rhi_rdce@radisson.com.
RADENTA Technologies, one of the country’s leading solutions integrators, introduces Bing Chat Enterprise, the latest addition to Microsoft.
Bing Chat Enterprise is like having an AI-powered personal assistant. It can help research industry insights, analyze data, or look for inspiration. It gives users access to better answers, greater efficiency, and new ways to be creative.
Bing Chat Enterprise ensures that no sensitive information leaks out of the organization. What goes in and comes out remains protected. Chat data is not saved, and Microsoft has no eyes-on access meaning no one else can view the data. Company data will not be used to train the models.
Bing Chat Enterprise delivers AIpowered chat for work with commercial data protection.
According to the World Trend Index, 70 percent of employees say they would delegate as much work as possible to AI. However, not all AI is created equal. Those not built for enterprise puts business data at risk.
Bing’s natural language understanding and generation capabilities helps businesses to improve communications with their clients and coworkers. It is available for commercial customers with MS 365 E3, E5, Business Standard and Business Premium licenses
Where is the fun part in using Bing Chat Enterprise? Here are tips and tricks:
Write something new. Bing can help turn your thoughts into engaging and creative content. Do you want to write a story, a poem, make a meal plan, or convey any brilliant idea but you do not know how to put it into words?
Easy comparison. Browsing through endless sites and typing numerous keywords may no longer be necessary. Just say what you want to compare and how detailed you want it to be, and Bing will do the rest.
Get summaries. Bing can give concise summaries of the main points of a
document, book, and even a TV show. No need to read through everything.
Understand what you mean. Whether you type in words or use emojis, keep it short, or long and detailed when you search, Bing will most likely understand what you mean.
Create an image. Bing can create images from your words. Type in what you want, and Bing Chat will generate it. You can also ask to modify the image to your liking.
Ask follow up questions. Bing Chat keeps the context of your initial question in each conversation. This allows you to clarify past questions and ask for more information without starting over.
Select the chat tab to find AI-powered answers. If you do not see the AI-generated answer you are expecting, select the chat tab and see the Bing chat response.
Tell Bing how to frame its answer. Ask Bing to tailor fit its response. You can have it in bullet points, table format, and use easy words for kids.
Get relevant answers. Give Bing as many details as you can and expect more applicable replies.
Get results from distant past or near real time. Bing is not limited to past historical data. It can pull from the latest search result. Improve something you have already written. Paste in your text and tell Bing what you want to change and how. Add humor to a tweet or formality for an email for your boss.
Level up the images you create in Bing Chat. Ask Bing to change the color scheme, the style or even the background images of your image.
Change the style of an image you create. Bing can explore different art and generate images for you. You can choose from many options like pop art, surrealism, impressionism, cubism, sketch, digital art, watercolor. Bing can be as creative as you want it to be. Find your previously created images. You can view the previous images you created at bing.com/created and selecting creations.
Bing Chat Enterprise is a game changer for your business.
Ask Radenta to show you how you can work in a new AI-powered way. Call 0908812-4891, email info@radenta.com or log on to www.radenta.com.
SUNSHINE Place, together with the students of their Kids and Beginners
Acrylic class, launched its first-ever group exhibit “Happy Hues” on September 9, 2023 at the Roof Deck of Sunshine Place. The ribbon cutting ceremony was led by Lizanne Uychaco, President of Sunshine Place, Fidel Sarmiento, President of the Arts Association of the Philippines and the instructor of Sunshine Place’s Advanced Acrylic class, and Loida Balubayan, instructor of the Kids and Beginners Acrylic class. Families, friends, and relatives of the
exhibitors also supported the launch. The month-long exhibit showcases the 45 acrylic paintings of the students under the guidance of their instructor, Ms. Loida “Lai” Balubayan, who is a key person in the class’s success.
With ages ranging from six to 88 years old, the 17 exhibitors displayed their best works this year. The Happy Hues exhibit runs until October 9, 2023 at the 2F Senior Hub of Sunshine Place. The catalogue can be viewed at https://www.sunshineplaceph. com/2023-happy-hues-exhibit
JOY~Nostalg Hotel & Suites Manila celebrated a significant milestone, marking its 14th year in the hospitality industry. Known for its five-star facilities and unwavering services, the hotel hosted an unforgettable event that brought together its guests, corporate partners, and stakeholders, not only to celebrate its journey but also to embrace a spirit of giving back.
#ONEFOURtheJourney was more than just a celebration. Beyond the delectable food, immersive games, generous raffle items, and lively music, the evening’s most incredible experience was the opportunity to actively engage in assembling sustainable power pipe lights that would soon bring light to the lives of their community.
Joy~Nostalg Hotel & Suites Manila commemorated its 14th anniversary on
September 9, 2023. This day marked the beginning of a profound journey. Together with its dedicated employees, the hotel embarked on a mission to raise funds to provide 100 sustainable solar lights. It was a collective effort, involving activities such as organizing a bazaar and individual pledges. The commitment to illuminate lives did not conclude with the event; further programs are in the pipeline to consistently generate funds and continue providing lights to those in need.
Through their significant partnership with “Liter of Light,” a global grassroots movement devoted to delivering light to individuals with limited or no access to electricity, Joy~Nostalg Hotel & Suites Manila exemplifies its belief that together, we can illuminate lives and pave the way for a brighter, more sustainable future.
AS we age, the body produces less collagen, one of the most common yet vital proteins in the body. This starts between the mid-20s and early 30s, causing the skin to become dry, thin, less elastic, and show more wrinkles.
Luminisce Holistic Skin Innovation, one of the Philippines’ leading dermatology clinics, recently introduced Sculptra, the first and original FDA-approved polyL-lactic acid (PLLA) collagen stimulator that addresses the root cause of aging by restoring the deep, underlying structure of the skin.
Anti-aging treatments in the form of collagen creams and collagen supplements have been criticized for addressing just the symptoms of anti-aging, instead of its cause. While creams fail to fully penetrate the dermis, supplements, which are broken down by the digestive system, provide inconclusive results on their efficacy.
Sculptra works by injecting PLLA microparticles into the skin which then stimulates collagen production. (PLLA is a biocompatible, biodegradable substance that is gradually absorbed by the body.) Restored collagen subsequently helps bring back facial volume and the look of fullness to wrinkles and folds. The result is a significant improvement in skin quality that lasts up to two years.
“We’re excited to introduce Sculptra at Luminisce as part of our portfolio of holistic treatments that address aging using the most effective and safest technology. This treatment will be available in all our clinics in Alabang, Bonifacio Global City, and Ortigas,” says Dr. Kaycee Reyes, Founder of Luminisce. Book a consultation with a Luminisce dermatologist today by calling 0977-8044601 or email patientsupport@luminisce. com. Visit Luminisce’s website at www. luminisce.com.
Now, with Germany distracted by its own concerns, the French president has refashioned himself into the EU leader he’s long believed he could be.
In areas ranging from defense to industrial policy, officials familiar with the European Union’s inner workings say that Macron is calling the shots as rarely before. And while his strained relationship with Olaf Scholz has subdued the Franco-German duopoly through which he used to get his way, these days he’s wielding influence through a series of quieter partnerships.
This new, subtler engagement marks a shift from the days when the French president thought regular phone calls might encourage Vladimir Putin to think better of invading Ukraine. He’s still liable to alienate allies with his grandstanding, but the UN General Assembly in New York last month offered evidence of his newfound restraint: for the first time in his presidency, Macron didn’t even show up.
The 45-year-old president’s fresh approach is most evident behind the closed doors of embassies in Eastern Europe, where he’s cultivating an intricate web of partnerships and turning himself into an unlikely point person on EU affairs. He’s helping center these countries’ concerns on the European agenda, according to people familiar with these interactions— and in return gaining traction on some of his own.
The result of this maneuvering
is a Europe that’s beginning to use state power more assertively to defend its companies, putting it on a rivalrous footing with both China and the US. If its leaders can forge a consensus at their summit in Spain this week, they might even advance Macron’s long-frustrated calls to beef up the bloc’s military might. In sum, Macron’s helping fashion a Europe that looks increasingly French.
Not everyone is convinced. The only Eastern European country to rank among France’s top 10 trading partners, Poland is something of an anomaly in the region, with cooperation thriving in business but largely sidestepping the two governments. When asked about Macron’s newfound influence, one senior Polish official just rolled his eyes. Elsewhere, it’s obvious to allies that Macron is changing tack. For so long pilloried in Eastern European capitals as too complacent about Russian aggression, France is suddenly ubiquitous in their defense. There’s a battalion of French troops stationed in Romania and Ukrainians are firing French long-range missiles at the Russians. One senior Lithuanian official joked that instead of Orban’s recalcitrant Hungary, Nato’s eastern flank these days includes France.
‘That time is over’
WITH this new, more deliberative mode of engagement, Macron’s overcoming decades of ingrained French attitudes toward Europe’s
margins—and even some of his own personal foibles.
Interviewed by phone about whether he agreed his successor had been more effective in wielding soft power lately, former President Francois Hollande gave a bit of advice: “France must be firm and clear but not arrogant. This is often the reproach.”
On the eve of their EU accession, Jacques Chirac famously told the Atlanticist Eastern Europeans at odds with him over Iraq that they had passed up a good opportunity to stay quiet. This summer, Macron went to Slovakia and issued an apology for not listening. “We did not always hear the voices you brought,” he said at the GLOBSEC Forum in Bratislava. “That time is over.”
In that speech, he promised to champion the EU enlargement of which he had so recently been a skeptic, and reiterated his commitment to the security of Central and Eastern Europe. That’s cemented a change of tack that’s been noticed from the Balkans to the Baltics.
Defense cooperation
SOME Eastern European diplomats privately cavil that it’s easy for Macron to pivot to being a full-throated advocate of
further Nato enlargement as he knows it’s unlikely to happen so long as the US and Germany stay opposed.
Still, Europe’s only nuclear power is putting money where the president’s mouth is. According to a report published Wednesday, the French auditor expects the country’s contribution to Nato to reach 830 million euros ($872 million) by the end of 2023—a fourfold increase on last year.
He’s now making up for lost time after ceding leadership on the defense of Ukraine to others quicker to act, according to Rym Momtaz of the International Institute for Strategic Studies. After Angela Merkel retired, “On paper it was a perfect opportunity for Emmanuel Macron to decisively seize leadership of the EU in a transformative way,” Momtaz said. “But it didn’t happen.” Now, after already planning to dispatch jets to Lithuania at the end of the year under the auspices of a Nato air patrol, France is in discussions with Latvia to do the same, one of the people said. And when the Estonians tabled a proposal to procure a million rounds of ammunition for Ukraine earlier this year, they ran it by the French first, according to two diplomats who
spoke to Bloomberg on condition of anonymity.
Charm offensive
FRESH from a disappointing G-20, Macron sees major summits as an increasingly inefficient way of conducting diplomacy and is focused on engaging little and often, according to one senior French official who asked not to be named discussing confidential matters of strategy.
The president remains comfortable, events suggest, with talking shops when they’re the product of his own ideas: the Paris summit to fix global climate finance in June, for instance, or the European Political Community which meets Thursday for the third time in Granada, Spain.
Although he’s had to adapt himself to the new reality on Europe’s borders, it’s also true that within them the moment is ripe for certain ideas the president has longchampioned. Several officials— French, and otherwise—pointed out that from the European Political Community to ‘strategic autonomy,’ recent months have vindicated some of Macron’s pet obsessions. He’s been talking about ‘sovereign Europe’ since winning his first election in 2017, but it took Russia’s hybrid war to take that idea mainstream.
Common causes
T HOUGH he has toned down some of his freer rhetoric, in the last year France’s leader has managed to upset Taiwan, the German chancellor and the Moroccan king. His inroads in Eastern Europe need to be set against some flops behind the scenes: he wanted to travel to the BRICS summit in South Africa in August, one official said, but wasn’t invited. The French president hoped to try his hand at brokering an agreement between Armenia and Azerbaijan, but by offering to send arms to
one side appears to have alienated the other.
Macron knows that winning back friends after years of perceived diffidence means finding common causes for cooperation. Romania and France have allied to ensure that clean-power definitions adopted by the EU include the nuclear energy on which they both rely. The same has been true of Poland, to some extent—although France’s relationship with the nationalist government is far more transactional, senior officials said, struggling to name other items of mutual assistance.
By contrast, Estonia may be the best example of the prizes at stake if France can hone its pitch to its partners’ interests. The two countries worked together to hammer out the language for an EU leaders’ statement in June that urged the bloc to strengthen its arms industry, according to an EU official, generating momentum they will be hoping to build on at this week’s talks.
In particular, they pushed wording calling for the bloc to increase its “defense readiness” and for Europe to take more responsibility for its own security in the long-term—a core Macron tenet. Though France and Estonia have cooperated on security matters in the past, the Baltics had long been uncomfortable with Macron’s push for EU independence in defense and other strategic areas, relying by habit on the US-led Nato alliance.
“The more distant the US becomes, the more Europe will be under French influence,” said former president Hollande. “Many people in Europe are of course opposed to this and have an interest in staying tied to the US—good luck with that!” With assistance from Milda Seputyte, Konrad Krasuski, Maciej Martewicz, Jorge Valero, Michael Nienaber, Samy Adghirni, Natalia Drozdiak, Alberto Nardelli and James Regan/Bloomberg
WHEN Africa last played host to the International Monetary Fund and World Bank’s annual meetings in 1973, then Bank President Robert McNamara urged rich nations to show more generosity toward the poor.
A lot has changed since that gathering in Nairobi, but the region still desperately needs investment to defeat poverty and face the climate crisis. Renewed great power rivalry pitting the US-led West against China and Russia is ramping up pressure on the two Washingtonbased institutions to do more on the continent.
China’s lending to Africa has increased fivefold since 2010, analysis by Bloomberg Economics shows. The World Bank’s funding, by contrast, has grown roughly 2-1/2 times, and the region now faces a worsening funding squeeze amid rising interest rates and weakening currencies.
The continent’s miserly share of the global economy has barely budged since 1973 and African leaders complain they’re overlooked. But don’t ask them to choose between East and West—they want more investment from both.
“ The choice is not about whether we’re picking friends and foes,” said Vera Songwe, the former Executive Secretary of the United Nations Economic Commission for Africa. “The choice should be about picking interests that will advance the objectives and interests of the continent.”
Songwe, now a senior fellow at the Brookings Institution in Washington and chair of the Liquidity and Sustainability Facility, says Africa should avoid involvement in any new “Cold-War” competition between the US and China, echoing many of the region’s leaders.
T he determination to go ahead w ith the October annual meetings in Marrakech, Morocco, after an earthquake in mountains above the city last month killed nearly 3,000 is meant to signal the IMF and World Bank’s relevance to the region.
The need for such outreach was made clear when major emerging market powers gathered in August for the BRICS summit in Johannesburg, decrying the Western-led order and broadening their ranks to include Iran and Saudi Arabia. That meeting came a few weeks after Russian President Vladimir Putin hosted African leaders in St. Petersburg.
“What should be announced at least in Marrakech is boosting Africa’s representation within the governing bodies of the IMF and the World Bank,” Morocco’s central bank Chief Abdellatif Jouahri told reporters on September 26.
The meetings are now also taking place against a backdrop of violence that has killed hundreds of Israelis and Palestinians, after Hamas attacked Israel from the Gaza Strip. Morocco has called for an emergency ministerial meeting of the Arab League Council to discuss the situation.
A key theme at the meetings will be the push to expand the World Bank’s resources to provide concessional credit on a much greater scale.
Boosting the a bility to provide cheap finance is vital to defeat poverty, confront the climate crisis and deliver the development that the region’s youth demand. Failure to do so risks decades more stagnation and the type of anger that fomented coups in Niger and Gabon in recent months.
“We cannot have a prosperous world unless we also have stable and prosperous Africa,” IMF Managing Director Kristalina Georgieva told Bloomberg in an October 3 interview.
The Biden administration has requested $2.25 billion for World Bank funding from Congress, which Treasury officials say could help “unlock” up to $25 billion in additional lending. And if other rich countries follow suit, the total effort, including private capital, could reach $100 billion.
But the region has already been looking elsewhere. Bloomberg Economics’ analysis shows China now holds about 10 percent of sub-Saharan Africa’s foreign debt, up from 1 percent two decades earlier, though its new lending to developing countries has also slowed substantially since 2020.
Even so, the scale of financing required is multiple times more than Africa has been able to attract from both sides combined.
An influential July report co-lead by former US Treasury Secretary Lawrence Summers, to which Songwe was a contributor, sees $3 trillion needed per year by 2030 for developing countries, including $500 billion from international development lenders.
“If you just catalogue all the needs these countries have it’s massive,” said Andrew Dabalen, World Bank chief
economist for Africa. “But the key thing is the financing has to be cheap and they have to be transparent about what it is they are actually borrowing for.”
The Washington-based lenders’ inability to deliver anything like the funding needed by the continent is driving pressure for reform.
“The report card on the Fund and the Bank is at best mixed,” said Mavis Owusu-Gyamfi, Executive Vice President at the African Center for Economic Transformation in Accra, who cited their emergency aid during the pandemic as a clear win. “We’ve seen some successes and some great initiatives, and we’ve also seen some failures.”
On the fringes of the Nubian Desert in Egypt, the Benban solar power project is a showcase for what can be achieved when development lenders get it right. The World Bank supported construction of the project, which attracted $2 billion in foreign direct investment.
With a current capacity of 1.465 gigawatts—enough to power more than a million homes—Benban has helped Egypt ease electricity shortages and scale back its use of fossil fuels. It’s also created an estimated 18,000 jobs in the North African nation.
“It totally changed our lives,” says engineer Ahmed Atef. “Many of the people never had steady employment before the project.”
But other projects didn’t deliver. The World Bank suspended its funding for a ChadCameroon oil pipeline in 2006, for instance, after Chad broke its promise to use the income for development and some of the money went to the military instead.
Harsh structural adjustment programs imposed on troubled African economies as the price of borrowing from the Bank and Fund are also remembered with bitterness across the region.
The institutions are now being urged to be more nimble while also granting African nations direct input into the decisions, so that they reflect an African reality. This includes abandoning the tradition where a European leads the IMF and a US citizen is at the helm of the Bank.
“When Africa has a position, it has to start a whole global advocacy campaign to get anybody to listen to us,” said Owusu-Gyamfi.
“It’s a bit tiring.”
Half a century has gone by since McNamara challenged the West — in a voice cracking with audible emotion—not to “turn away in cynicism and indifference.” That was music to the ears of Daniel Ritchie, a junior World Bank loan officer at the time, who was at the meeting because he’d learned Swahili as a Peace Corp volunteer in Kenya in the 1960s.
“It was a pioneering move,” said Ritchie, who retired in 1998 and still lives in Washington. “I didn’t realize it at the time, but 50 years later the World Bank is still talking about poverty.”
Indeed, the issue was foremost in remarks by new World Bank President Ajay Banga at the Group of 20 leaders summit in New Delhi last month. We face declining progress in our fight against poverty, an existential climate crisis, food insecurity, fragility, a fledgling pandemic recovery, widening disparity, and a crippling war on the borders of Europe,” Banga said.
C ertain gauges have improved: Life expectancy in Africa has increased from 46 in 1973 to 60, according to World Bank data, while infant mortality rates have fallen sharply.
Africa’s poverty headcount ratio, or the share of the population living on less than $2.15 a day, has declined from around 56 percent at the turn of the century to 35 percent. But the same metric in South Asia has fallen from almost 40 percent to around 10 percent over a similar period.
Some of the things that went wrong for Africa — including the pandemic and global inflation—are not its fault. But poor decisions when money was flowing in when commodity prices were high, and gorging on cheap borrowing that become unsustainably expensive amid raising interest rates, are home-grown problems.
Zambia and Ghana have both received emergency bailouts from the IMF this year after defaulting. Many others face debt distress and are shut out of capital markets.
Andrews Kwame Pianim, a Ghanaian economist who attended the annual meetings in Washington in 1971, recalled the optimism of the era and how the hope faded in the ensuing half century.
“We thought we had the answers: As long as countries just followed the rules things would go the right way. Of course, we didn’t have the answers,” he said. “Africans must do the work of economic growth and not expect the IMF and World Bank to do it.” With assistance from Yinka Ibukun, Souhail Karam and Antony Sguazzin/Bloomberg
IN his first term, Emmanuel Macron made a point of visiting each and every EU member state. Those overtures didn’t always land.MACRON BLOOMBERG
THE Philippines squad or also known as Gilas Pilipinas has found a very reliable ally to win the 19th Asian Games men’s basketball crown last week despite the undesirable situation they have been through since the start.
God was with us in Hangzhou,” national team manager Alfrancis
Chua told reporters on Monday in a news conference at the Philippine Basketball Association (PBA) office in Libis, Quezon City just three days after the Philippine basketball team made history in Asiad.
“ We’ve been told that even your God cannot help you when we were at the accreditation area, but God helped us in his own way and he showed the way for us. We are so thankful to him,” the Sports Director of San Miguel Corp. added.
“
We are also thankful to RSA [Ramon S Ang] and MVP [Manny V. Pangilinan].”
R amon S. Ang, the CEO and president of San Miguel Corporation, and businessman MVP Group Chairman Manny V. Pangilinan had joined forces to assemble the men’s basketball team for the Hangzhou 19th Asian Games.
The partnership resulted in success.
C hua didn’t say anything about his future with the Philippine team including his managerial duty and Tim Cone’s head coaching, noting that everything would depend on the decision of Samahang Basketbol ng Pilipinas (SBP).
It’s SBP’s call. I’m not thinking about it for now. SBP has a lot of people capable of doing the job.”
Joining Chua in the news conference were PBA Chairman Ricky Vargas, Vice Chairman Bobby Rosales and PBA Commissioner Willie Marcial
TEAM PHILIPPINES is shaping up and hoping to sustain the momentum of its Asiad success—to a much more ambitious successful goals in the 2024 Paris Summer Olympic Games—after winning four gold medals, two silvers and 12 bronzes in the Hangzhou 19th Asian Games.
A nd Philippine Olympic Committee (POC) President Abraham
“Bambol” Tolentino expects the successful Asiad campaign will inspire more Filipino athletes to work hard, wise, and be competitive to qualify for the next year’s Paris Olympics set on July 26 to August 11.
“Of course, we are praying for all the sports that we participate in will qualify in Paris. Four is not enough.
It could be 10 or 20 Olympians in Paris by next year,” Tolentino told reporters on Sunday evening at the Milky Way Cafe in Makati City upon arrival from Hangzhou, China.
But the mayor from Tagaytay City and the PhilCycling chief added that the government financial support is
who also served as the assistant national team manager.
They narrated the turn of events in what transpired since from the start in how they struggled and succeed, as they rallied past a traditional powerhouse host China, 77-76, in the semifinal before bouncing back against Jordan, 70-60, in the final to clinch the title.
The last time the Philippines won the Asian Games basketball gold was in 1962 in Jakarta, Indonesia.
We are happy we took this challenge,” Vargas said. “When we were going there, we talked a lot about the big risk we’re taking. We’ll play four games, and the fear was we will lose every game and it’s going to be a big social media crisis for us. But we said no, we will still play.”
Gilas was led by naturalized player Justin Brownlee, who stepped up with 33 points against China and 20 points against Jordan, while June Mar Fajardo, CJ Perez, another naturalized Ange Kouame, Scottie Thompson, Calvin Oftana, and Chris Newsome, among others.
Vargas said the national team and the PBA had finally overcome logistical issues, including players’ availability and eligibility where original choices Calvin Abueva, Jason Perkins, Terrence Romeo and
B8
Editor: Jun Lomibao
RETIRED pro boxer and hall of famer Manny Pacquiao is praying for miracles to get the exemption to qualify for the Paris Olympic Summer Games next year without passing through the two Olympic qualifying tournaments next year.
“
Mo Tautuaa were replaced by Chris Ross, Arvin Tolentino, Kevin Alas and Perez.
“ For the first time, we were allowed to manage the team, choose the players, and do everything we wanted,” he added. “The SBP just empowered the PBA so we have to be humble in this victory because four years from now we will defend this crown.”
C hua and Vargas also said that no players had asked for compensation
to play for Gilas in the Asian Games.
All 16 players we invited to become part of the team never asked for anything in return or single centavo,” Chua said.
It was a battle cry for us. We will play because we truly love to play, and you want to play for our country.
We are not forcing anyone. That was our first statement to them,” Vargas said, adding that he’s very proud of the players who ended the country’s six-decade wait for Asiad gold.
so vital for the country’s successful Olympic campaign starting from now on up to next year’s participation. We have to rally the government, the government not only the PSC [Philippine Sports Commission] because they are just the disbursing agency. It is the government itself—the house, the senate and the Office of the President. We have to rally them to give full support to our athletes,” Tolentino added.
World No. 2 pole vaulter Ernest John “EJ” Obiena, accompanied by Philippine Athletics Track and Field Association President Terry Capistrano, was the first Filipino to qualify for Paris Olympics after reaching the standard 5.82 meters last July 2 in Bauhaus Galan Diamond League in Sweden.
He also gave the Philippines its first gold in the Hangzhou games last September 30 by clearing a new Asian Games record of 5.90m, proving himself as Asia’s No. 1.
SIBLINGS Kimi and Kenzo Brodeth primed up for their upcoming Thailand campaign as they scored a pair of victories each in singles play in the Lapu-Lapu City Juniors
Fiesta National Tennis Championships
Leg 2 in Cebu City over the weekend.
K imi, 16, trampled fellow Ormoc City bet Ma. Niña Torrejos twice, posting a 6-1, 6-2 romp to reign in her age-group category then coming away with a 6-2, 6-1 win in the 18-andunder finals to complete her sweep of the two-leg swing following her victories over Kate Imalay and Sandra Bautista in Leg 1, also at the LapuLapu City Tennis Club last week.
“ We still need to compete in other local and overseas tournaments to level up,” said Kimi, who is set to compete in the ITF (International Tennis Federation) J60 from October 23 to 28 in Nonthaburi, Thailand.
The top-seeded Kenzo, on the other hand, routed Christian Laguna, 6-2, 6-2, to bag the boys’ 14-and-U title then thwarted Juvels Velos, 6-1, 7-5, for the 16-and-U crown in the Group I event held under the PPS-PEPP program put up by Palawan Pawnshop president/ CEO Bobby Castro.
“This is a good preparation for our tournament in Thailand,” said the younger Brodeth, who will compete in the ATF (Asian Tennis Federation) LTAT Asian 14-and-under tournament on Oct. 14-21, also in Nonthaburi.
The Brodeths have been training intensively in their continuing effort to sharpen their skills and reach the desired competitive level in pursuit of titles and ranking points not just on the local front but also abroad.
O ther winners in the event presented by Dunlop were Bogo City, Cebu’s Claudwin Tonacao. Maristella Torrecampo from Naga City, Bicol, Ma. Caroliean Fiel, also of Ormoc, and Torrejos.
Tonacao ripped Xian Calagos, 6-2, 6-0, to win the boys’ 12-and-U title for the second straight week while Torrecampo turned back Fiel, 6-4, 3-6, 10-4, to likewise make it two-in-row in the girls’ 12-and-U side. Fiel also made it back-to-back in 10-unisex with a 4-0, 4-0 romp over Van Gairanod, while Torrejos took the girls’ 14-and-U trophy with a 6-0, 6-0 rout of Torrecampo.
The unranked Chad Cuizon from the host city also grabbed the spotlight as he stunned top seed and doubles partner Gio Manito, 6-1, 7-5, in the semis then overpowered No. 2 Nicholas Ocat, 6-2, 6-1, to snare the boys’ premier 18-and-U title.
Obiena was then followed by boxer Eumir Felix Marcial who settled for silver on Friday in the light heavyweight class, enough to get his ticket in Paris and become the fourth Filipino athlete to qualify for the 2024 games.
Gymnasts Carlos Yulo and Aleah Finnegan were also declared eligible for Olympic berths in Antwerp, Belgium World Championships also last week prior to Marcial’s successful run in the final but lost to his Chinese opponent Tuohetaerbieke Tanglatihan through a controversial 2-3 split decision.
There will be more by next year as our BMX cyclist Patrick Coo—the bronze medalist in Asiad—will be competing in tournaments in Europe to get the necessary points to qualify, we have our weightlifters, our golfers in the top 60 and plus in athletics and swimming via universality.”
B esides these sports, Tolentino gave slim hope to 2023 Asian Games men’s basketball champion Gilas Pilipinas and women’s Filipinas football team to reach the grandest sporting spectacle next year through their respective Olympic qualifying tournaments next year.
Tokyo Olympics gold medalist
Hidilyn Diaz-Naranjo, according to Tolentino, is still adjusting to her new weight category from women’s 55 kg to 59 kg and needs more time to adapt.
She is still in the state of adjustments about her new weight class.
Changing weight class is a torture to our athletes so hopefully she adjusts so well before and during the Olympic competition,” Diaz-Naranjo said of Diaz-Naranjo who finished at fourth place in 59kg.
“I know Eumir [Marcial] will bounce back in Paris.”
A sked about the Philippines’ chances in Paris if it could surpass or match the one gold, two silvers and one bronze output in Tokyo games, Tolentino said he can’t still feel it but it in the early part of 2024 he will be able to sense it.
Speaking of Asiad success, Tolentino said it was attributed to God almighty and for the Filipinos.
Power of prayers, we, POC, are just aligned with NSA [National Sports Association]. I thought soft tennis, sports climbing, break dancing, e-sports and 4x400 relay in athletics could deliver medals in Asian Games recently,” Tolentino said.
Jiu-jitsu’s emergence also turned out to be a secret weapon for Team Philippines after Meggie Ochoa captured the -48 kg women’s gold and Annie Ramirez had won the 57kg class gold before Gilas Pilipinas picked the country’s fourth Asiad gold.
Joining Tolentino, Marcial, Obiena, jiu-jitsu gold winners Ochoa and Ramirez, and bronze medalist Kayla Napolis in the dinner were Patrick Coo of BMX, and sepak takraw bronze medalists Rheyjey Ortouste, Jason Huerte, Ronsited Gabeyeron, Jom Rafael, Mark Joseph Gonzales and Vince Torno.
The Philippines’ 4-2-12 gold-silverbronze final tally resulted in 17th place finish among 41 Asian nations that also surpassed the 19th place finished in the 2018 Asian Games in Jakarta, Indonesia where it finished with 4-2-15 tally.
Thanks, God, for this blessing 4-212 medals. As foreseen and predicted and delivered four golds,” Tolentino said. “I said two months ago that minimum of four gold medals. If we surpass it, that’s a bonus. It could be five, but Eumir got robbed.”
He referred to Marcial’s final fight against the Chinese boxer.
Josef T. RamosWithout going to the Olympic qualifying tournaments next year, I hope they allow me to participate and compete in the Paris Olympics to give Philippines a good chance,” the 44-year-old eight-division world champion said. “Yes, it’s already in the works.”
Pacquiao, who retired with 62-8-2 win-loss-draw record with 39 knockouts, had requested the Philippine Olympic Committee (POC) headed by President Abraham “Bambol” Tolentino to allow him to compete for Team Philippines in Paris. “ I requested to participate in the Olympics next year.”
Tolentino announced his response to Pacquiao last Sunday at the Milky Way Café in Makati City, saying that they already filed the request to the International Olympic Committee (IOC) prior to Asian Games campaign hoping to get a positive response by next year.
We already submitted the appeal last October and we just emailed the IOC on that issue if he will be allowed to bid one of the universality places,” Tolentino said, noting that he is confident the former senator will get a positive response from the IOC.
“ It’s a very long process and we’re expecting it next year but we’re hopefully confident they will grant it. His boxing accolades will be a shot in the arm for boxing and that will be a sure blockbuster, that will be good promoting boxing in general.”
A ssociation of Boxing Alliances in the Philippines (ABAP) secretary-general Marcus Jarwin Manalo, however, wants to manage the expectation of the people about the possibility of having the former welterweight world champion in Paris. We are hopeful, but we have to manage expectations. We hope the IOC will consider,” Manalo said, adding that everybody wants Pacquiao to fight in the Olympics.
“Who doesn’t like Pacquiao in the Olympics?”
Pacquiao is no longer applicable to join the two remaining Olympic qualifiers next year because of the 19 to 40-year-old below ruling. So the last resort could be the universality rule which the IOC will give exemption to Pacquiao.
U niversality allows five women and four men boxers to participate directly in the Olympics through certain conditions like the lack of boxing participants in that nation. S o far, the first Paris bound boxer for Team Philippines is Tokyo Olympics bronze medalist Eumir Felix Marcial after winning a silver medal in the Hangzhou 19th Asian Games, a continental Olympic qualifying tournament, last week.
Women’s featherweight Nesthy Petecio and flyweight Carlo Paalam, both silver medalist in Tokyo Olympics, failed to reach the gold medal round in Hangzhou. They will need to compete in the two remaining World Championships next year in Italy and Thailand to qualify for Paris.
Josef T. RamosTHE City of Malabon University
Belles overcame jitters to crash highly touted Technological University of the Philippines in straight sets, 25-13, 25-11, 25-17 at the start of the volleyball event on Monday in the 2023 ROTC Games National Capital Region (NCR) Leg at the Rizal Memorial Coliseum inside RMSC complex in Manila.
Jessa Pormocille and Marisol Barcelona dominated the scoring charts with well calculated blocks, aces and spikes to forge a rousing start in the Philippine Army competition.
“ It’s a big win for us. I’m proud of my team that they were able to overcome the challenge from a much more bigger university like TUP.
I ’m sure our school officials will be very much happy with the way we played,” said CMU sports director Jasper Perez. After taking the opening set, 25-13, Pormocille scored four consecutive aces and Barcelona added three blocks to take away
the second set with a lot of ease. They needed only an hour and 15 minutes to claim the victory in the event that carries the theme: “Tibay at Galing Pagyamanin, Suportahan Palarong ROTC Natin.”
“ We have only two months of preparations so we are not expecting too much. But they have shown enough guts and determination in the game. I’m sure this will boost their
confidence,” added Perez. I n the other volleyball matches of the Philippine Army, Quezon City University won over Olivarez College of Paranaque, 3-0, while Our Lady of Lourdes Technological College of Quezon City subdued Pamantasan ng Lungsod Maynila, 3-0. Makati Science Technological Institute of the Philippines won by default over Olivarez College, 3-0 and Polytechnic University of the Philippines likewise secured a 3-0 win over Blink Link Philippines also in the Army competition.