BusinessMirror October 18, 2022

ILO prods PHL on using data to forecast shortages in labor

By Samuel P. Medenilla @sam_medenilla

THE International Labor Organization (ILO) is pushing to mainstream international data techniques to help the government reliably forecast skills surplus and shortages amid ongoing “disruptive” occurrences in the local workforce.

D uring an online forum held by the Bureau of Local Employment (BLE) on Monday, ILO Skills for Prosperity (SfP) Philippine Project Senior Officer Katherin Brimon disclosed the program will help in creating timely labor market inter ventions.

Now more than ever, because of the pandemic and also other forms of disruption in the labor market, such as the increasing oil prices

which affect services and industries and how work is being done, it is in creasingly important to always have signals on how the labor market is behaving so eventually policy mak ers and even enterprises are able to response in a more appropriate manner,” Brimon said.

Brimon reported the result of the pilot study they conducted for the SfP, an ILO project funded by the United Kingdom, where they used

as trying to keep healthy and safe from Covid-19.

the labor market information (LMI) generated by the Philippine Statis tics Authority (PSA) for creating supply-to-demand ratios (SDTR).

Labor market trends

AMONG the data used for the study are the annual average employment in skilled occupations under the Philippine Standard Occupational Classification (PSOC) Level 4 data, and historic data on employment trends by industry for 2017 to 2020.

It resulted in SDTRs of 80 to 100 occupations in Regions 6,7, and 8 in volving professionals, technicians, skilled industrial, services, and ag ricultural workers, but it excluded clerical or secretarial staff.

A mong the findings of the study was the oversupply of pharmaceu tical technicians and assistants due to large unemployment and the severe shortage of information and communications technology operations technicians in Central Visayas.

Brimon said the data analysis will help the Technical Education and Skills Development Authority

(TESDA) make estimates on the anticipated demand and supply of occupations.

Possible replication

SHE said they will help other government agencies to conduct similar analyses to help in their policymaking initiatives due to PSA’s “right and high-quality” la bor force data.

“ If the question is if the country can do it, yes. Because we have suf ficient statistical infrastructure to do it,” Brimon said.

I LO will conduct workshops to share how they conducted their SfP analysis to their national stake holders.

Brimon did mention, however, that there are still gaps in the gov ernment’s available LMI, including the lack of behavioral character istics analysis for labor “replace ment” and not having a better sample size in the regional level.

T he ILO official said they hope the government would eventually address these issues in their LMI production.

LTO issues show-cause order to SUV driver who ran over enforcer’s foot

By Lorenz S. Marasigan @lorenzmarasigan

THE Land Transporta tion Office (LTO) said on Monday it would ex haust all legal means against the driver of a vehicle that hit one of its officers while per forming his duty as an enforcer.

I n a news statement, LTO Intelligence and Investigation Division (IID) Chief Renan Melitante said a “show cause” order has been issued against the driver of a Ford Everest, who is “reportedly the relative of a city mayor in the National Capital Region [NCR].”

A separate show cause order was also issued to the regis tered owner of the SUV.

Both were directed to appear at the IID office on Wednesday to submit a written comment or explanation as to why they should not be charged with Ob struction of Traffic, Reckless Driving, Use of Unauthorized Accessories, Duty to Procure License, and Duty of Driver in Case of Accident.

of LTO Field Enforcement Di vision Law Enforcer Butch Se bastian, while he was flagging the vehicle down for being on the wrong lane.

T he driver then sped away.

“ Time and again I have stated that the LTO will not hesitate to prosecute erring drivers regarding the unau thorized use of sirens and blinkers, but most especially those who commit violations against LTO enforcers and any traffic enforcer for that mat ter, who are on the road ful filling their duties to keep our roads and the motoring pub lic safe,” declares LTO Chief Assistant Secretary Teofilo Guadiz III.

G uadiz said he would leave it up to Sebastian if he wants to pursue criminal charges against the driver. The agency will extend all legal assistance possible to Sebastian should he decide to press charges.

Continued from

O piniano said this happens while Overseas Filipino Workers (OFWs) also have to contend with their own struggles abroad such

Nonetheless, many OFW families have already started learning from their pandemic experience. Many of them have started saving using the remittances they received.

“ Economies of destination coun

tries are still recovering, so the Philippine homeland may have to be patient with overseas Filipinos,” Opiniano told BusinessMirror.

T he BSP data also showed per sonal remittances from Overseas Filipinos (OFs) reached $3.02 bil lion in August 2022, higher by

4.4 percent than the $2.89 billion posted in the same month last year.

T his resulted in the cumulative personal remittances rising by 3 percent to $23.34 billion in the first eight months of 2022 from $22.67 billion registered in the comparable period in 2021.

T he increase in personal remit tances in August 2022 was due to remittances sent by land-based workers with work contracts of one year or more, and sea- and landbased workers with work contracts of less than one year.

I n terms of country source, the growth in cash remittances from the United States (US), Saudi Ara bia, Singapore, and Qatar contrib uted largely to the increase in re mittances in the first eight months of 2022.

Remittances sent from the United States accounted for 41.7 percent of the inflows between January and August this year. This was followed by other sources with a 20.1-percent share; Singapore, 6.9 percent; Saudi Arabia, 5.8 percent; and Japan, 4.9 percent.

O ther top remittance sources were the United Kingdom with a 4.9-percent share; United Arab Emirates, 4.1 percent; Canada, 3.5 percent; Qatar, 2.8 percent; Taiwan, 2.7 percent; and the Republic of Ko rea, 2.6 percent.

BOC...

Continued from A1

I’m proud of what our team has done in this case. They didn’t let this attempt to change consign ees go through and were fast on their feet in making sure we stop another shipment from entering our local markets,” he said in a statement.

C IIS Director and concurrent Intelligence Group OIC Deputy Commissioner Jeoffrey Tacio said there was initial information about the shipment’s status as contain ing “misdeclared” and undeclared goods.

CIIS-MICP Chief Alvin Enciso re ported an attempt by the consignee to change its name on October 10 after a request for the issuance of an alert order was received at the District Col lector’s Office on October 4.

R uiz lauded the BOC’s latest op eration, particularly the blocking of the attempt to circumvent the law and change the consignment.

T he operation is in keeping with the directive of President Ferdinand Marcos Jr. to BOC to stop all forms of smuggling and other customs fraud in the country.  Cai U. Ordinario

T he driver of the SUV al legedly ran over the left foot

Our country’s traffic laws apply to everyone. We will not spare anyone from prosecution regardless of whoever they are or their status in life,” adds Guadiz.

DOH logs 2,188 daily Covid-19 cases from October 10 to 16

By Claudeth S. Mocon-Ciriaco @claudethmc3

ATOTAL of 15,314 Covid -19 cases were logged by the De partment of Health (DOH) from October 10 to 16, higher by 7 percent compared to the cases recorded from the previous week.

T he average case per day is at 2,188.

T here were also 251 deaths re corded.

Meanwhile, the DOH said that of the 2,504 ICU beds for Covid-19 patients, 625 (25.0 percent) are oc cupied.

O n the other hand, the DOH said, over 73 million individu als or 93.98 percent of the target population are vaccinated against the virus.

Completing our booster dos es and adhering to our health protocols will prevent severe and critical cases, and protect our hospitals and health-care facilities from getting over whelmed,” the DOH said. There were already 20 million indi viduals who have received their booster shots.

T he DOH continues to en courage everyone to get boosted against Covid-19 and “arm our selves with the proper knowl edge and ability to assess our individual risk and consequently build our individual defenses by employing the appropriate layers of protection—such as masking, physical distancing, sanitation, and ventilation—as needed.”

from A1

Majority of consumers have attempted to go cashless, and fur ther growth is expected as confi dence to go cashless from nonusers increases,” Navarro said in a presentation.

I n terms of goods and services, the majority or 62 percent of Fili pinos who went cashless shopped

using popular shopping applica tions and websites while 46 per cent, shopped on social media channels.

S ome 45 percent shopped with direct delivery at home after order ing through their mobile phones and 20 percent shopped in physical outlets. Cai U. Ordinario

“ We encourage sellers and man ufacturers to comply with the SRP bulletin as such informs and pro tects consumers from deceptive or unconscionable transactions,” Castelo stressed.

T he Trade department said Re public Act No. 7581, as amended by RA 10623, or the Price Act gives the DTI and other implementing agencies such as the Department of Agriculture (DA), Department of Health (DOH), Department of Environment and Natural Re sources (DENR), and Department of Energy (DOE), the mandate of ensuring the availability of BN PCs at reasonable prices at all times without denying legitimate

businesses a fair return on invest ment.

D TI monitors weekly the price and supply of basic necessities such as, but not limited to, canned sar dines, processed milk, powdered milk, coffee, bread, instant noodles, salt, detergent soap, bottled water, and candles.

Meanwhile, under prime com modities, the agency monitors the price and supply of products such as but not limited to canned meat, vinegar, patis, soy sauce, toilet soap, paper, school supplies, batteries, flour, cement, G.I. sheets, hollow blocks, construction nails, light bulbs, electrical supplies, and steel wires. Andrea E. San Juan

The

Storm affects close to 28K in N. Luzon

By Glen Jacob Jose

Law on BSKE postponement questioned before SC

By Joel R. San Juan @jrsanjuan1573 & Samuel P. Medenilla @sam_medenilla

THE

National Disaster Risk Reduction and Management Council (NDRRMC) on Mon day said that severe tropical storm “Neneng” has affected close to 28,000 individuals.

According to the latest NDRRMC report, the storm affected 27,914 in dividuals or 7,519 families.

T he figures came from 160 baran gays in Ilocos Region, Cagayan Valley and the Cordillera Administrative Region (CAR).

Meanwhile, 32 evacuation centers are being utilized which now shelter 199 families, or 721 persons. The rest of the victims are housed with their families or friends.

The NDRRMC report likewise said that 39 road sections and 13 bridges were affected by Neneng’s onslaught in Ilocos Region and Cagayan Valley.

A total of 28 cities and munici palities had experienced power in terruptions particularly in the Ilocos Region and Cagayan Valley. As of this writing, power has been restored in six affected towns.

O n the other hand, 13 towns and cities in Ilocos Region and nine in Cagayan Valley are still awaiting restoration.

T he NDRRMC said 25 houses were reported damaged in Ilocos Region, Cagayan Valley and the CAR.

From the said number, 23 are partially damaged and two totally damaged.

ELECTION lawyer Romulo Macalintal filed a petition before the Supreme Court (SC) on Monday seeking to declare as unconstitutional Republic Act 11935 that was signed into law last October 10, 2022 by President Ferdinand R. Marcos Jr., postponing the Barangay and Sangguniang Kabataan Elections (BSKE) from December this year to October 2023.

I n a 20-page petition for cer tiorari, Macalintal also sought the issuance of a temporary restrain ing order and/or a writ of prelim inary mandatory injunction to enjoin the respondents Commis sion on Elections (Comelec) and the Office of the President from implementing RA 11935.

M acalintal also asked the Court to issue an order directing the Com elec to continue its preparations for the December 5, 2022 election of barangay officials.

In the event that incumbent ba rangay officials had assumed office in holdover capacity before the SC could issue the preliminary injunction, the

petitioner prayed for the issuance of a status quo ante order directing them to observe the status quo prevailing prior to their appointment or instal lation as holdover officials.

Macalintal argued that Congress has no power under the Constitution to postpone the barangay elections, which is being held every three years, because such power exclusively be longs to the Comelec.

He added that it has also no power to appoint barangay officials in a holdover capacity since such provi sion of RA No. 11935 is, in effect, an act of Congress appointing them to said position until their successors are duly elected.

Isabela lawmaker Faustino Dy V pushes amendment of student fare discount act

By Jovee Marie N. Dela Cruz @joveemarie

ALAWMAKER has called on Congress to pass House Bill1142 or the proposed Stu dent Fare Discount Act of 2022 to include tickets bought online.

Isabela Rep. Faustino Dy V said transport tickets purchased online should also be discounted amid a nationwide fare hike that took effect on October 3.

T he proposed Student Fare Dis count Act of 2022 seeks to amend Section 5 of Republic Act No. 11314, which entitles students to a 20-per cent discount on domestic regular fares in all public transportation.

T he proposed law, however, re quires students to present their school identification card in person, which makes them unable to avail of the benefit when purchasing their tickets online, said Dy.  “ This is an exception that doesn’t

make sense, and disincentivizes the use of technology when in fact we must push for its more widespread adoption,” he added.

Under the bill, a student under this act shall be entitled to a grant of 20percent discount on domestic regular fares, upon personal presentation of their duly issued school identifica tion cards (IDs) or current validated enrollment form, supported by the prescribed government-issued iden tification document, subject to an appropriate verification mechanism to be provided in the implementing rules and regulations (IRR).

Provided that in the case of air public transportation utilities, the discount shall only apply to the base fare or the price of the ticket before taxes and costs for ancillary services.

“In case of transportation tick ets purchased online, the students are also entitled to the 20-percent discount, subject to verification pro vided in the IRR and the presentation

of their duly issued school identifi cation cards or current valid enroll ment upon purchase of the tickets online,” the bill said.

T he lawmaker said the discount is a big help to students amid increas ing prices of commodities as well as travel fare.

Earlier, the Land Transportation Franchising and Regulatory Board approved a P1 provisional increase in the minimum fare for the first 4 kilometers of travel in public utility jeepneys (PUJs), which hiked the minimum fare for traditional PUJ up to P12, and the modern PUJ up to P14.

It also approved the increase in minimum fare for city buses by P2 for the first five kilometers—P13 for the regular buses, and P15 for the air-conditioned buses. For provincial buses, the minimum fare rose by P2.

Meanwhile, the flagdown rate of taxis was hiked to P45, and P40 in the Cordillera Administrative Region.

BuCor confirms Rasuman’s death in prison facility

noon Sunday.

According to records available, there is one PDL [Person Deprived of Liberty] Jhacob Rasuman who died yesterday [Sunday] due to myocardial infarction. The incident happened at about noon yesterday in the presence of his colleagues who rushed him to the hospital,” Chaclag said.

The family appreciated the efforts of BuCor personnel in trying to save the PDL during that time and now wishes to respect their privacy,” he added.

Department of Justice (DOJ) spokesman, lawyer Jose Dominic Clavano said Rasuman died in the presence of his wife on a conjugal visit.

“ The cadaver was already claimed by the family,” he added.

Under RA 11935, all incumbent barangay and SK officials must serve until their successors are elected next year or they can be removed or sus pended earlier for a cause.

“

The Constitution gives Congress the power to determine or fix the term of office of barangay officials. Clearly, the Constitution does not give Congress the power to ‘postpone’ the barangay elections nor to extend the term of office of the barangay of ficials,” Macalintal argued.

T he power to postpone elec tions, according to the petition, is within the exclusive jurisdiction of the Comelec upon determination of valid grounds as provided under Section 5 of the Omnibus Election Code (OEC).

Thus, by enacting a law postpon ing a scheduled barangay elections, Congress is in effect executing said provision of the OEC or has over stepped its constitutional boundar ies and assumed a function that is reserved to Comelec,” he added.

If Congress is empowered to post pone the holding of elections, he said, it would remove the authority of the poll body under the OEC.

At the same time, he said, post poning the conduct of barangay elec tions would also violate the consti tutional right of the people to due process since they are effectively “forced to accept” the appointed officials under RA 11935 upon the expiration of their term in Decem ber 2022, without hearing or notice.

“Due to this, the officials will no longer be ‘representatives of the

people’ and will become representa tives of Congress,” he said.

“ This runs counter to the very es sence of the right to suffrage of the people, which is to choose the candi date of their own choice,” he added.

He stressed this is against the 1987 Constitution, which provides that barangay officials must be elected into office, not appointed.

Furthermore, Macalintal said by extending the term of office of ba rangay officials, RA 11935 violates the principle that the term of said officials should not be longer than their superiors.

“ Thus, RA No. 11935 took away the voters’ right to choose their leaders in each of the 42,000 baran gays in the country, and at the same time, forced upon our voters lead ers who were not elected or chosen by them, but were merely imposed upon them, by law or by Congress,” the petitioner stressed.

M acalintal also noted that bil lions in taxpayers’ money have been spent by the poll body in preparing for the holding of the elections in December.

T he election lawyer, however, clarified that the petition does not challenge the postponement of the SK elections since it was created only by law passed by Congress, which it can amend or change anytime, and not in the Constitution.

Congress empowered to resetpolls–Comelec CONGRESS has the power to pass a law postponing the 2022 BSKE, ac

cording to Comelec.

In an ambush interview in the Sen ate on Monday, Comelec Chairman George M. Garcia maintained the Con stitution allows lawmakers to extend the term of incumbent officials.

Based on our previous experi ences and based on the content and wordings of the Constitution, Con gress is empowered to reset the elec tion because when you extend the term office, necessarily you have to reset the elections. That is the con sequence,” Garcia said.

T he poll official made the re mark after veteran election lawyer Macalintal filed a petition before the Supreme Court, questioning the legality of the inclusion of barangay officials in Republic Act (RA) No. 11935, which postponed the 2022 BSKE to October 2023.

Macalintal said that the Constitu tion states barangay officials should be elected and not appointed.

He noted that RA 11935, which was signed into law last week, will effectively make barangay official appointees.

T his was the second time the BSKE, which was originally supposed to be held in 2020, was postponed.

Despite its position on the issue, Comelec said it still welcomes the said case pending before the High Court since it will “enrich jurispru dence and once-and-for-all, settle the lingering question on the pow ers of the Legislative and Executive Departments of the Government in so far as the issue of fixing the terms of Barangay and SK Officials.”

THE Bureau of Corrections (BuCor) confirmed on Monday the death of Jhacob “Coco” Rasuman inside the New Bilibid Prisons  (NBP) in Muntinlupa where he was serving two life terms for

masterminding an investment scam, which duped hundreds of investors, mostly in Mindanao, to almost P300 million.

BuCor Deputy Director General Gabriel Chaclag said Rasuman suffered a heart attack at around

R asuman, son of former Public Works undersecretary Bashir Dimaampo Rasuman, was convicted for syndicated estafa along with several others for operating a large-scale investment scam in Lanao del Sur and other nearby provinces. Joel R. San Juan

Economy

BusinessMirror

DOTr inks world’s 1st inter-bloc aviation connectivity agreement

By Lorenz S. Marasigan @lorenzmarasigan

THE Philippines has signed the world’s first inter-region aviation cooperation agree ment, signifying its commitment to strengthening air connectivity and economic development among the 37 member-states of the Asean and the European Union (EU).

Transportation Secretary Jaime J. Bautista was the Philippine sig natory to the Asean-EU Compre hensive Air Transport Agreement (CATA), which was formally signed at the 28th Asean Transport Minis

Oil firms hike fuel pump prices anew

By Lenie Lectura @llectura

PUMP prices are on the rise again, oil firms announced Monday.

S tarting Tuesday morning, oil companies will jack up diesel price by P2.7 per liter, kerosene by P2.9 per liter, and gasoline by P0.80 per liter.

T he price adjustment will be im plemented at 6 a.m. of October 18 by Seaoil, Shell, Caltex, PTT, Unioil, Phoenix, and Petron. Other oil firms will follow suit. Cleanfuel, mean while, will implement the price hike at 4:01p.m.

T he price increase reflects move ments in the world oil market.

L ast week, oil companies imple mented a per liter increase in the price of gasoline by P1.20, diesel by P6.85 and P3.50 for kerosene. These resulted in the year-to-date total adjustments to stand at a net increase of P15.65/liter for gasoline, P35.80/liter for diesel, and P26.75/ liter for kerosene.

C rude oil prices surged to a one-month high in the latest week after the OPEC+ announced a 2 million per barrel cut in the group’s production quotas from November in an apparent move to boost oil prices.

Platts Analytics estimated the ac tual supply reduction to be 780,000 per barrel versus October.

ters Meeting on Monday.

As a key player in the transport affairs of the Southeast Asian re gion, the Republic of the Philippines is supportive and is one with the other partner nations in pushing for agreements and areas of partnership that will further develop the region’s transportation potentials,” he said.

T he CATA is considered as the world’s first bloc-to-bloc air trans port agreement, which aims to re inforce connectivity and drive postpandemic economic recovery to 37 member-states in Southeast Asia and Europe.

“

This agreement will prove to be a

game changer as both Asean and EU countries slowly recover and rebuild from the effects of the pandemic. The agreement will have a profound im pact in the areas of trade and tourism for Asean and the EU. The Asean-EU CATA will also rebuild air connectiv ity between Asean and Europe which was suddenly suspended by the pan demic,” Bautista explained.

T he Philippines is also one with the other partner nations in adopt ing several guidelines “in the areas of aviation safety, air traffic man agement, consumer protection, and environmental and social matters,” said Bautista.

Power consumers deserve refund, not just ‘discount awards,’ Hontiveros says

By Butch Fernandez @butchfBM

THE Energy Regulatory Com mission (ERC) should be made to order a refund to overpaid electric consumers on top of award “discounts” on the planned weighted average cost of capital (WACC) reset for the transmission wheeling rates.

I nstead, Sen. Risa Hontiveros suggested that ERC should rather pay electric consumers “refunds” for having been overcharged for ex orbitant WACC covering the fourth regulatory reset period.

She acknowledged that the WACC is the return a company expects on the money it has put into a business, adding that “it is part of what con sumers pay each refunds.”

T he senator recalled it has been years that power consumers were made to “overpay their electric bills.”

“Ilang taon nang sinisingil ang mga power consumers ng higit pa sa kung magkano lang dapat ang ating ibinabay ad,” she said, suggesting that the next electric bills should include “not just discounts but also refunds.”

“Hindi lang dapat discount sa mga susunod na bills ang ibigay sa atin, kundi balik-bayad sa mga taon na hindi nang yari ang reset,” Hontiveros stressed.

T he senator had earlier welcomed the announcement of ERC that they have started the process of resetting the transmission wheeling rates, which was expected to be “most

likely to result in a reduction in the transmission fees.”

However, she recalled that the ERC had made it clear during the budget hearings that the implemen tation method for the resetting of transmission wheeling rates “would not be in the form of refunds but rather than a discount.”

T he senator added: “Ang problema dito sa discount na para bang bibigyan ang mga consumers ng discount sa mantalang sa totoo lang ay galing na man ito sa sobrang siningil ng NGCP dahil malinaw ang mga kapalpakan ng lumang ERC. Hindi eksakto kung tatawaging ‘discount,’ dahil parang ginigisa lamang ang ating consumers sa sariling mantika. Dapat itong ban tayan ng husto ng buong taumbayan, siguruhin na magsimula sa tama dahil ang mga susunod na mga desisyon ay dito natin makikita.”

She added: “Paano naman iyong sobra-sobra palang ibinayad ng con sumer the past several years, in cluding the past regulatory periods, na hindi nga kaagad na -correct itong excessive na weighted average cost of capital?”

Hontiveros also pointed out “ab sent [in] the conduct of 4th regula tory reset [was the] determination of a judicious amount of over recov ery during that period [that] should translate into a refund rather than as a discount under the 5th regula tory reset.”

Bill pushes ₧1-billion scholarship fund for aspiring ‘agripreneurs’ in most SUCs

By Jovee Marie N. Dela Cruz @joveemarie

APARTY-LIST group is pushing for the passage of a measure encouraging more students to take agriculture, forestry, and fish eries degree programs with support from the government and empower them to be “agripreneurs” scholars.

Under the proposed House Bill 2419 or the “Agripreneurs Scholar

ship Program Act,” an Integrated Agripreneurs Scholarship Program (IASP) will be established in State Universities and Colleges (SUCs) in partnership with private higher edu cational institutions.

T he Commission on Higher Edu cation (CHED) may designate more than one partner higher education institutions per region, as deemed may be necessary, upon consulta tion with the Department of Agri

culture (DA).

T he bill is authored by the AGRI Party-list.

T he bill proposes a total of P1 billion support annually to quali fied scholars and other educational resource support mechanisms for the pursuit of studies in the field of agriculture. Thereafter, the fund necessary for its implementation shall be included in the General Ap propriations Act.

The student financial assistance shall cover tuition and other school fees; allowance for prescribed books, supplies and equipment; clothing or uniform allowance; allowance for dormitory or boarding house accom modation, or transportation allow ance, whichever is more applicable; internship fees, including financial assistance during the required intern ship period; licensure exam fees, if ap plicable, of the scholar concerned taken within one year after graduation, and subsistence or living allowance.

T he DA, in coordination with oth er relevant government agencies and financial institutions, shall prepare and consolidate cash grant programs that can be availed of by agripreneur scholars who wish to venture and establish their own agribusinesses.

No blended learning for public schools, discretionary for private institutions

By Claudeth Mocon-Ciriaco @claudethmc3

WHILE all public schools across the country will be mandated to implement five day in-person classes starting November 2, 2022, the Department of Education (DepEd) will leave the discussion on the learning modality to be implemented by private educa tion institutions to the schools, the parents/guardians, and the learners.

O n Monday, DepEd issued an amendatory Department Order (DO) to DO 34, s. 2022, allowing private schools to offer blended learning modality and full distance learning

options to their students.

In a news statement, however, DepEd, said it hoping that parents/ guardians of private school learn ers would not miss “the abundance of scientific studies available on the advantages of in-person classes over online learning.”

DepEd has maintained its confi dence on the benefits of holding inperson classes, “To promote academic development and the overall mental health and well-being of our learners.”

Several published studies point to the undisputable fact that in-per son classes remain the best option for basic education,” the DepEd said.

DepEd added it is cognizant of the

current situation of the private sector due to the impact of the Covid-19 pan demic—the amount of investment in online learning technologies, the development and institutionalization of best practices on blended learning, and the unfortunate closure of small private schools because of losses.

M eanwhile, the DepEd said that there are exemptions in pub lic schools, directed to transition to five days of in-person classes starting November 2, if (1) Public schools were expressly granted ex emptions by the Regional Director concerned, and (2) Public schools with canceled classes because of disasters and calamities.

Can we build trust and ethics in AI systems?

tion: What would it take for you to trust an AI system with your life?

Fostering trust in AI systems is the great obstacle to bringing into reality transformative AI technolo gies like autonomous vehicles or the large-scale integration of machine intelligence into medicine.

context of AI, Ethics benefits from a concrete, systematic approach despite its inherent complexity and subjectivity.

Ethics also covers:

By Henry J. Schumacher

LAST week I asked the question whether we should fear the accelerating artificial intelli gence (AI) systems. My answer was: yes, we should be scared.

I stated that security principles must be incorporated into AI sys tems to ensure their safety and transparency, limit the impact of algorithmic discrimination, and give users control over their data.

I finalized by column by asking whether AI systems will understand integrity and ethics. Today, let me discuss the needed dimension of trust in AI systems:

A I as a technology is maturing. Far from the stuff of science fiction, AI has moved from the exclusive regimes of theoretical mathemat ics and advanced hardware to an everyday aspect of life.

O ver the last few years of expo nentially accelerating development and proliferation, our needs and re quirements for mature AI systems have begun to crystallize. Trust is not an internal quality of an AI system like accuracy, or even fair ness. Instead, it’s a characteristic of the human-machine relationship formed with an AI system.

No AI system can come off the shelf with trust baked in. Instead, trust needs to be established be tween an AI user and the system. The highest bar for AI trust can be summed up in the following ques

A I is far from the first technology required to meet such a high bar. The path to the responsible use of AI has been paved by industries as diverse as aviation, nuclear power, and bio medicine. What we’ve learned from their approaches to accountability, risk, and benefit forms the founda tion of a framework for trusted AI.

T he challenge now is to translate those guiding principles and aspi rations into implementation, and make it accessible, reproducible, and achievable for all who engage with the design and use of AI systems. This is a tall order but far from an insurmountable obstacle.

But trust signals are not unique to AI–it’s something that we all use to evaluate even human-to-human connections. Think about what kinds of trust signals you intentionally seek out when meeting a new busi ness partner. It will vary person to person, but we all recognize that eye contact is important, especially as a sign that someone is paying at tention to you while you speak. For some people, a firm handshake is meaningful, and for others, punctu ality is vital; a minute late is a sign of thoughtlessness or disrespect. Re flective language is a powerful way to signal that you are listening.

T he trust signals available from an AI system are not eye contact or a diploma on the wall, but they serve the same need. Particular metrics, visualizations, certifications, and tools can enable you to evaluate your system and prove to yourself that it is trustworthy.

L et me go from Trustworthiness to Ethics: Ethics relates to the question, “How well does the model align with my values? What is the real impact of my model on the world?” In the

P rivacy—individual privacy is a fundamental right, but it is also complicated by the use and ex change of data. What role does AI play in the management of sensi tive data?

Bias and fairness—how can AI systems be used to promote fairness and equity in our decision-making? What tools can be used to help de fine what values you want reflected in your AI system?

E xplainability and transpar ency—How can these two linked properties facilitate the creation of a shared understanding between ma chine and human decision-makers?

From one perspective, AI sys tems are easier than people. When you hire for an open position at your company, you look for someone you think will be a strong fit for your company culture and will model the standards you expect out of your coworkers and employees. It’s not always easy to perceive these traits in someone you’re just meeting.

With an AI system, ethics relate to hard quantities you can measure and behaviors and practices you can control or override. With fore thought, you can have even more stringent requirements than you would of any employee across the dimensions of trust outlined above.

The challenge is to think ahead, and systematically identify what is the desired behavior of the system that would reflect your values across all dimensions and then plan proactive steps to guarantee it. I have tried to answer the ques tion at the top: Can we build trust and ethics in AI Systems?

Can we? Your views would help us to address the behavior of the advanced AI Systems and protect us.

I would appreciate your feedback; please contact me at hjschumacher59@ gmail.com

LEARNERS with a guardian cross a pedestrian lane in front of Fernando Ma. Guerrero Elementary School in Pedro Gil Street, Paco, Manila, on September 27, 2022. The Department of Education said it will push for the implementation of full five-day in-person classes in all public schools nationwide, starting November 2; while private schools were allowed to continue with blended learning. PNA FILE PHOTO BY ALFRED FRIAS

Philippines losing out to Thailand and Bali with restrictions to tourists

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

Arrivals reach 1.35M, mostly domestic

BOTH letters were signed by the offi cers: Wesley van der Voort, president; Michael Sweeney, vice president; Phillip Mark G. Santiago, corporate secretary; and Gisella Iñigo Winebrenner, board of director, copies of which were sent to the BusinessMirror

Other countries don’t requireboosters

T he Philippine Chamber of Com merce and Industry of Boracay (PCCIBoracay) is urging government to re move unnecessary arrival procedures to attract more foreign tourists to the Philippines. It is also asking the pro vincial government of Aklan to lift the QR code requirement prior to entry to the island, famous the world over for its powdery white sand beaches.

In a letter dated October 6 to Dr. Maria Rosario S. Vergeire, officer-incharge of the Department of Health, Tourism Secretary Christina Garcia Frasco, Aklan Gov. Jose Enrique “Joen” Miraflores, and Malay Mayor Frolibar S. Bautista, PCCI-Boracay requested the “conclusion of the One Health Pass requirement…” and that “fully vaccinated” tourists be defined

as having received the first and sec ond doses of the Covid-19 vaccine, like many countries.

In a separate letter to Miraflores and Bautista, copy furnished to Frasco and Department of Tourism Region 6 (Western Visayas) Director Christine Mansinares, PCCI-Boracay also said on October 6: “As Boracay focuses on the long road to recovery, [we] would like to recommend the conclusion of the QR code requirements.”

They added, “These Covid-era re strictions may have served their pur pose, and we would like for the prov ince and the [local government unit] to consider the termination of this pro gram, in an effort to increase tourism, in particular as we look to encourage the return of foreign tourists.”

Winebrenner shared, “Basically we are asking [government and the LGU] to remove unnecessary entry require ments so more foreign tourists can enter. Bali and Thailand have so many Western tourists now and we are losing on that opportunity.”

Latest data from the DOT showed arrivals in Boracay have been gaining ground, with both domestic and foreign tourists reaching some 1.35 million from January to October 9, this year, which is close to the 1.74 million ar rivals from January to October 2019. From February 12 to October 9 year, there were 72,216 foreign tourists who arrived in Boracay.

The Philippines was the first in Asia to fully reopen to foreign leisure tourists but merely ranked number 30 in Condé Nast Traveler readers’ travel wish list for 2022, ranking behind Thai land, Singapore, and Malaysia. (See, “PHL lags behind travel publication’s country list,” in the BusinessMir ror , October 7, 2022.)

DOTr chief reaffirms PHL’s vow for Asean transport initiatives

By Lorenz S. Marasigan @lorenzmarasigan

areas of partnership that will further develop the region’s transportation potentials,” he said.

cises among Asean member-states.

THE Philippine government defines fully vaccinated tourists as those having received at least two primary doses of the Covid-19 vaccine, but still require a negative RT-PCR test result within 48 hours prior to arrival, or a negative antigen test result 24 hours prior to arrival. However, if the tour ist has received at least a one booster shot, he is exempted from the Covid test, but has to show proof of his booster vaccination.

“Fully vaccinated in many countries is defined as [having received] the first and second shot. There are massive numbers of Western and Asian tour ists that consider themselves ‘fully vaccinate,’ but have not and have no plans for a third or fourth booster shot,” explained PCCI-Boracay. It add ed that the Boracay QR code and the One Health Pass “has been [among] the reasons mentioned by our foreign tourists as concern for their travel to the Philippines.”

The Tourism Congress of the Philippines has also mentioned the Boracay QR code as one of the chal lenges of foreign tourists, and has requested government that an easier and revised OHP be the only requi site for foreign guests traveling to the island.

COMING

from his first Asean Transport Ministers Meeting over the weekend, Department of Transportation (DOTr) Secretary Jaime Bautista reaffirmed the com mitment of the Philippines to work with other Southeast Asian nations to “push for transport initiatives seen to benefit each member states.”

I n a media announcement, Bau tista said during the meeting Asean transport ministers also committed “to the success of various potential transport projects in the region,” adding that the Philippines will also be looking for “agreements and ar eas of partnership that will further develop the region’s transportation potentials.”

“As a key player in the transport af fairs of the Southeast Asian region, the Republic of the Philippines is support ive and is one with the other partner nations in pushing for agreements and

B autista also cited the AseanEuropean Union Comprehensive Air Transport Agreement (CATA), and the Asean Agreement on Aero nautical and Maritime Search and Rescue Cooperation, as among the main highlights of the 28th Asean Transport Ministers Meeting.

T he CATA is considered as the world’s first bloc-to-bloc air transport agreement and is expected to strength en connectivity and economic develop ment among the 37 member-states of the Asean and the European Union.

T he Asean Agreement on Aero nautical and Maritime Search and Rescue Cooperation is expected to strengthen cooperation efforts in the areas of aeronautical and maritime search and rescue operations and pro vide various information exchange and sharing of best practices in the field of search and rescue and in the conduct of joint training and exer

Bautista added that he expressed the Philippines’s support to other transport initiatives such as adoption of the Annual Priorities or Key Deliver ables for 2023, the Asean Guidelines on Airport Environmental Management System, the Guiding Principles for the Regulation of Application-based Mo bility Services for Passenger Transport in Asean, and the Implementation Framework to Enhance Regional Con tainer Circulation.

“ The Philippines is one with the nations of the Asean and the EU in the promotion and adoption of vari ous measures in the areas of aviation safety, air traffic management, con sumer protection, and environmental and social matters,” he said.

Indonesia chaired the Asean Trans port Ministers Meeting this year. It is the annual platform for transport ministers to discuss the priorities and initiatives to further bolster coopera tion within the region and with dia logue partners.

No overnight stay, frolicking in cemeteries during ‘Undas’

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

DAVAO CITY—This city has banned overnight stay in the cemeteries during Undas, one of the many health and security proto cols it laid down as it opened the cem eteries to the public for the first time amid the lingering Covid-19 pandemic.

Visitors shall observe the “One en trance policy,” but vehicles shall follow the “One Entrance, One Exit Policy.” S taying overnight is strictly prohibited.

Tricycles are not allowed to enter the cemetery premises.

Wearing jackets, bringing back packs, playing loud music or kara oke, gambling, and bringing alco holic drinks and pointed objects, are strictly prohibited.

Drones and firearms are strictly prohibited, except those with security clearances.

T hese were some of the other pro tocols to observe that health and se curity clusters would implement from October 30 to November 3.

A ll in all, the city government laid

down 16 health and security guidelines to be implemented within the 35 cem eteries in the city.

T he 16-point guideline includes the opening of cemetery gates at 6 a.m. and closure at 8 p.m. from the evening of October 30 until November 3, the city information office said, citing the guidelines. It added that the manage ment of private cemeteries may imple ment different operating hours.

T he city government warned that city ordinances and minimum public health standards on Covid-19 must be observed at all times. It said the man agements of private cemeteries were encouraged to implement their own health protocols in coordination with City Health Office.

Wearing of face masks is manda tory. Bringing sanitizers is highly en couraged. Any person exhibiting flulike symptoms such as fever, cough, and colds is discouraged from visiting cemeteries,” it added.

Medical tents will be set up at the en trances of all cemeteries, with medical teams conducting body temperature checks and responding to any medical emergencies, it said.

Vagrants, loiterers, and scavengers will be denied entry to all cemeteries.

“

Only ambulant vendors with special permits from the City Mayor shall be allowed to sell goods from October 30 to November 3, at the designated ambulant vending areas outside the cemeteries as set by the city government,”it said.

It would also be “Clean As You Go” or “Basura ko, Linis Ko” for all visitors to adhere to proper waste disposal rules, as all cemeteries were instructed to observe the garbage collection points determined by the City Environment and Natural Resources Office (Cenro).

Parking areas for four-wheeled vehicles and motorcycles outside the cemeteries shall be identified by the City Transport and Traffic Manage ment Office. The security cluster would deploy its personnel at all cemeteries beginning on October 30 and assist in crowd control and law enforcement, the City Security Cluster said.

T he City Economic Enterprises would not schedule any burial, intern ment, or cremation during this period in city-owned and operated cemeteries, except for cases of immediate burials.

By Samuel P. Medenilla @sam_medenilla

PRESIDENT

Ferdinand R. Mar cos Jr. has appointed multiawarded film director Paul Soriano as Presidential Adviser on Creative Communications.

S oriano was accompanied by his actress wife, Celestine “Toni” Gon zaga-Soriano and son, Severiano El liot Soriano during his oath-taking, which was held in Malacañang on Monday afternoon.

M arcos lauded the decision of Soriano to use his creativity and filmmaking experience for public service at almost no cost to the government.

“One of the greatest assets of the Filipino is our creativity, and we must find many ways to highlight that to the rest of the world. And that is what Paul Soriano has already been doing in his career as a filmmaker. And now we have asked him to help us at one peso per year,” Marcos said during the ceremony.

Under his new position, Soriano will be tasked to advise Marcos and assist departments and agencies, including government-owned and -controlled corporations, “on matters that will enhance their information dissemina tion programs and initiatives.”

“ It’s an absolute honor to be able to serve, first and foremost, of course, for the country and then, of course, for the PBBM administration,” So riano said.

S oriano earlier told the media he declined to accept an offer to become the next press secretary since he pre ferred to work “behind the scenes” with the Marcos’ communication team.

B oth Soriano and his wife sup ported Marcos during his election campaign. He also directed the President’s first-ever State of the Nation Address.

His films won several prestigious awards, including Berlinale Interna tional Film Festival, Metro Manila Film Festival, Catholic Mass Media Awards, Cinemalaya Film Festival, Mexico International Film Festival, Film Academy of the Philippines, and Star Awards for Movies.

Soriano’s father is a cousin of First Lady Maria Louise Araneta Marcos.

FOREIGN tourists are trooping to Thailand, Bali, and our other Asian neighbors because of their easier entry requirements, according to a group of business owners on Boracay Island.

PBBM names Soriano as presidential adviser on creative communications

The

Asian shares drop as markets keep eyes on China meeting

By Yuri Kageyama AP Business Writer

TOKYO—Asian shares were mostly lower Monday as investors kept their eyes on the weeklong Communist Party congress in China.

Benchmarks dropped in Tokyo, Sydney, Seoul, Hong Kong and Shanghai in early trading. Oil prices and US futures rose.

The meeting in China, which opened Sunday, is expected to reappoint Xi Jinping as leader for the next five years, reaffirming his grip on power and stronger state control over the economy. Analysts expect no change to the “zero-Covid policy.”

“Fresh updates from China’s Party Congress are being scrutinized, with the emphasis on technological advancement and national security seemingly brought up as high priorities for China’s longerterm direction. Further de-coupling from US technology seems to be the story,” said Yeap Jun Rong, market strategist at IG in Singapore.

Japan’s benchmark Nikkei 225 slipped 1.4 percent in morning trading to 26,715.47. Australia’s S&P/ASX 200 dipped 1.4 percent to 6,665.20. South Korea’s Kospi fell 0.1 percent to 2,209.89.

Hong Kong’s Hang Seng lost 1.1 percent to 16,399.46, while the Shanghai Composite fell 0.1 percent to 3,068.83.

Clifford Bennett, Chief Economist at ACY Securities, noted the US dollar will likely continue to rise as interest rates push higher to counter inflation.

“The outlook is grim. The economic horizon is dark,” he said of the American

economy. “The US dollar will continue to strengthen for the moment, particularly against other Western currencies.”

In currency trading, the US dollar fell to 148.60 Japanese yen from 148.63 yen. The euro cost 97.38 cents, up from 97.21 cents.

Worries about inflation, though cooling in some parts of the economy around the world, remain overall. On Wall Street, stocks ended last week with a broad slid, wiping earlier gains.

A report showing US consumers’ expectations for inflation was another signal the Federal Reserve may keep aggressively raising interest rates, although that strategy raises the risk of a recession.

The S&P 500 fell 2.4 percent on Friday. The Dow Jones Industrial Average fell 1.3 percent and the Nasdaq composite ended 3.1 percent lower. Both indexes also turned lower after marching higher in early trading.

The Russell 2000 gave up 2.7 percent.

The Fed has already raised its benchmark interest rate five times this year, with the last three increases by three-quarters of a percentage point.

Wall Street expects another raise of threequarters of a percentage point at its next meeting in November.

Investors have also been focusing on the latest earnings reports.

In energy trading, benchmark US crude added 57 cents to $86.18 a barrel in electronic trading on the New York Mercantile Exchange. US crude oil prices fell 3.9 percent Friday. Brent crude, the international standard, added 72 cents to $92.35 a barrel.

Defiant Xi tells world China is ready to stand its ground

By Rebecca Choong Wilkins & Kari Lindberg

In a speech running almost two hours on Sunday, Xi let the world know that China wouldn’t change course even as it faces “dangerous storms” in a more hostile world. Instead, he declared the “rejuve nation of the Chinese nation is now on an irreversible historical course” and more forcefully of fered China up as an alternative to the US and its allies.

“China’s international influ ence, appeal and power to shape the world has significantly in creased,” Xi said in kicking off the Communist Party’s oncein-five-year party congress, at which he’s set to secure a norm-breaking third term in office. “Chinese modernization offers humanity a new choice

for achieving modernization,” he added.

Xi’s remarks indicate that Chi na is ready to stare down a growing challenge from the US under Presi dent Joe Biden, who has moved to hinder Beijing’s ability to access advanced technology and sought to deter any military action against Taiwan—the biggest flash point between the world’s biggest econo mies. The Chinese leader hailed the nation’s “fighting spirit” and said the country was “well-positioned for pursuing development and en suring security.”

“The message to the party is that China can develop its tech nological advantages without the United States, and is going to be able to withstand the policies that Biden and others are promoting to cut China off from certain hightech goods like semiconductors,” said Neil Thomas, a China analyst at Eurasia Group Ltd., a political risk advisory and consulting firm.

“Whether that’s going to succeed is a totally different question, of course, but it’s certainly express ing confidence to those in the system.”

Xi’s speech reflected a changed world from 2017, when he declared that China was “standing tall and firm in the East.” Since then, he’s faced a barrage of US tariffs, fi nancial sanctions and trade curbs aimed at blocking China’s ability to grow even more powerful, cul minating in a sweeping order this month restricting Beijing’s access to high-end chips used in artificial intelligence, supercomputing and other technologies set to drive the modern economy.

On Sunday, Xi vowed to “reso lutely win the battle in key core technologies.” Pledging to speed up innovation in areas vital to “technology self-reliance,” he said that China “will move faster to launch a number of major na tional projects that are of stra tegic, big-picture and long-term importance.”

In many ways, Xi’s defiant tone belied the problems facing China’s economy. The country is facing one of its most challenging periods in decades as Covid Zero policies and a property crackdown place pre-pandemic predictions of a 5 percent growth rate out of reach. Market analysts didn’t see much in Xi’s speech that would change that short-term outlook.

In addition to failing to make significant breakthroughs on chip technology despite spending tens of billions of dollars, the nation is also facing the slowest economic growth in more than four decades, excluding 2020’s Covid slump. Re strictive pandemic policies have cut off visitors and hurt spend ing, while youth unemployment is around record highs. A property crisis has also spurred a wave of mortgage boycotts.

Xi reiterated that economic de velopment was the party’s “top pri ority,” even as he twice mentioned the need to “balance development with security”—a phrase sug gesting growth can be sacrificed for goals like self-sufficiency and national defense. Noting “dras

tic changes in the international landscape,” he said the party “safe guarded China’s dignity and core interests.”

Peiqian Liu, chief China economist of Natwest Markets, said the remark suggests that “growth rates will no longer be the only and top priority in com ing years—security of develop ment also matters.”

Hong Kong and Taiwan were two places where China’s actions have considerably hurt its inter national reputation during Xi’s current five-year term. Xi pro claimed Sunday that “order has been restored” in the former Brit ish colony, while calling Taiwan a “matter for the Chinese” to resolve.

“The wheels of history are roll ing on toward China’s reunifica tion and the rejuvenation of the Chinese nation,” Xi said, referring to Taiwan. “The complete reunifi cation of our country must be re alized, and it can without a doubt be realized.”

The words are a clear rebuttal to the US, where politicians from both major parties have stepped up efforts to demonstrate support for Taiwan. Biden has repeated mul tiple times that the US would come to Taiwan’s aid if China attacked, a prospect that has become a greater worry particularly after Beijing’s unprecedented military exercises around the island in the wake of House Speaker Nancy Pelosi’s visit in August.

While Xi said China “will continue to strive for peaceful reunification with the greatest sincerity and the utmost effort,” he added that the threat to use force was “directed solely at in terference by external forces and a few separatists seeking Taiwan independence.”

The speech gave little hope for a breakthrough in US-China ties ahead of a possible meeting with Biden next month at the Group of 20 summit in Bali, Indonesia. Rather than stressing a “new type of great power relations” with the US, Xi focused on initiatives to ex pand ties with developing nations in the Global South, according to Yu Jie, a senior research fellow on China at Chatham House.

“It also marked Beijing’s realiza tion that its fraught relationship with the West is here to stay with out any prospect of improvement soon,” she said.

Scott Kennedy, a senior adviser at the Washington-based Center for Strategic and International Studies, said Xi’s emphasis on a “Chinesestyle everything” amounted to ac ceptance that the US and China were strategic competitors, even if

Beijing disputed Washington’s use of the term.

“He was not backing down from that at all,” Kennedy told Bloom berg Television. “Anyone looking for an opening for greater coopera tion, pulling back, stepping back, trying to find common ground—I don’t think that was the message he was trying to convey.”

Open to global economy MEANWHILE , the nation’s top economic planner said China will continue to open up to the global economy even as it focuses on more high-quality growth and fostering domestic demand.

Plans for a dual-circulation economy requiring more domes tic production and consumption doesn’t mean the country wants to scale back from globalization, Zhao Chenxin, deputy director of the National Development and Re form Commission, said at a press conference Monday. The briefing was part of events related to the Communist Party’s congress tak ing place this week.

“Some countries are trying to decouple supply chains and build small yards with high walls,” Zhao said. “We believe openness and cooperation will remain the his toric trend.”

Zhao said the view that China is seeking to become a self-sufficient economy is a misunderstanding of the country’s strategy. No country can develop with its doors closed, he added. China is already deeply interdependent with many other countries, and domestic and ex ternal demands are mutually de pendent, he said.

China will publish its 2022 list of industries where foreign investment is encouraged, and will provide better incentives to attract the spending, Zhao said. He avoided answering a question about whether Covid quarantines for incoming visitors are curbing such investments.

“We welcome companies to come to China to share the fruit of China’s development,” he said.

On the economy’s outlook, Zhao said there was a significant rebound in the third quarter, with major indicators improving. Infla tion is mild and the employment situation is stable, he said.

Official data scheduled for re lease on Tuesday will likely show gross domestic product grew 3.3 percent in the third quarter from a year earlier, recovering from near stagnant growth in the previous three months when Shanghai was in lockdown. With assistance from Colum Murphy, Sarah Zheng, Jing Li, Lucille Liu, Tom Hancock and Qizi Sun/Bloomberg

CHINA’S President Xi Jinping, center, sits after giving a speech during the opening ceremony of the 20th National Congress of China’s ruling Communist Party in Beijing on Sunday, October 16, 2022. The overarching theme emerging from China’s ongoing Communist Party congress is one of continuity, not change. The weeklong meeting is expected to reappoint Xi as leader, reaffirm a commitment to his policies for the next five years and possibly elevate his status even further as one of the most powerful leaders in China’s modern history.

AP/MARK SCHIEFELBEIN

PRESIDENT Xi Jinping had a clear message to those who want to thwart China’s rise: You will fail.

The World

Gates Foundation pledges $1.2B to end polio globally

BERLIN—The Bill and Melinda Gates Foundation says it will commit $1.2 billion to the ef fort to end polio worldwide.

The money will be used to help implement the Global Polio Eradi cation Initiative’s strategy through 2026. The initiative is trying to end the polio virus in Pakistan and Af ghanistan, the last two endemic countries, the foundation said in a statement Sunday.

The money also will be used to stop outbreaks of new variants of the virus. The announcement was made Sunday at the World Health Summit in Berlin.

The foundation says in a state ment on its website that it has con tributed nearly $5 billion to the polio eradication initiative. The initiative is trying to integrate po lio campaigns into broader health services, while it scales up use of the novel oral polio vaccine type 2.

The group also is working to make national health systems stronger so countries are better prepared for future health threats, the statement said.

“The last steps to eradication are by far the toughest. But our founda tion remains dedicated to a poliofree future, and we’re optimistic that we will see it soon,” said foundation CEO Mark Suzman.

Pakistan has reported 20 po lio cases so far this year, all in the north-western Khyber Pakhtunkh wa province.

Afghanistan, which has regis tered two cases this year, previously lacked access to vaccines because of violence and the Taliban banning polio teams in areas under its con trol. However last year, a few months after they took over Afghanistan, the Taliban agreed to allow United Nations health workers to begin a national campaign.

Pakistan has long struggled with Islamic militants targeting polio workers and the police protecting them, falsely claiming that vac cinations are a Western campaign

to sterilize children. This year, it has the added challenge of unprec edented rainfall destroying road networks and health facilities, limit ing vaccination drives, and displac ing communities.

Despite the billions of dollars that have gone into the effort to eradicate polio since 1988—the program costs about $1 billion ev ery year—the World Health Orga nization and partners have missed repeated deadlines to wipe out the disease and have come under sus tained criticism for failing to adapt to challenges. In recent years, for ex ample, there have been more cases of polio linked to the oral vaccine used in eradication efforts than those caused by the wild virus.

Numerous experts have also questioned whether more money is what’s needed to eradicate polio, as the initiative is already one of the best funded in global public health and has rarely faced any funding gaps. Although WHO and part ners have reduced the incidence of polio by more than 99 percent, that progress was largely made in the first 10 years. The disease remains stubbornly entrenched in war-torn regions of Afghani stan and Pakistan and there have been dozens of vaccine-triggered outbreaks in Africa and elsewhere in recent years, including the US and Israel.

An independent panel formed to evaluate the eradication effort’s progress has repeatedly identified significant strategic mistakes made by countries, WHO and their do nors, warning that their reluctance to change course, among other is sues, may ultimately allow polio to resurge.

The eradication initiative is a public-private partnership led by a group of national governments that includes the Gates Foundation, Rotary International, the World Health Organization and the US Centers for Disease Control and Prevention.

India’s Congress begins vote to elect new party president

By Ashok Sharma The Associated Press

NEW DELHI—India’s main opposition Congress party voted to elect a new presi dent Monday, with members of its dominant Nehru-Gandhi dynasty staying out of the race.

Sonia Gandhi, the interim party president, was among the nearly 9,000 party delegates who were en titled to vote on the matter.

“I have been waiting for this for a long time,’’ she said after voting in the party’s New Delhi office.

Although the party has histori cally been led by the family, Sonia Gandhi and her son, Rahul Gan dhi, decided to bring in a new face after suffering crushing defeats in national and state elections since Prime Minister Narendra Modi’s Hindu nationalist party came to power in 2014.

Eighty-year-old Mallikarjun Kharge from southern Karnataka state appears to be the frontrunner with the party’s top leaders back ing him during campaigning ahead of the vote. He has been described by Indian media as the “official candidate.” His main challenger is Shashi Tharoor, 66, who spent nearly 30 years at the United Na tions before joining the Congress party in 2009.

“I believe the revival of the Con gress has begun,” Tharoor said after casting his vote.

Tharoor, however, complained to the party’s election authority that he has been denied a level playing field as some senior party leaders, including Ashok Gehlot and Sidda ramaiah, issued appeals to party del egates urging them vote for Kharge.

Madhusudan Mistry, who heads the party’s election board, is yet to announce his decision on Tharoor’s complaint.

The election to the top party post is a major step toward ending the party’s struggle to find a new leader after dismal results in the 2019 national elections and Rahul Gandhi’s subsequent resignation as party president.

Sonia Gandhi and Rahul Gandhi said last month that no one from the Gandhi family will be in the race this time. Vote counting and results are scheduled for Wednesday.

Modi has denounced Congress’ dynastic politics.

The party has been led by nonfamily members in the past, but Sonia Gandhi and Rahul Gandhi have been at the helm of party af fairs since 1998.

The family has produced three of India’s 15 prime minis ters since independence, start ing with his great-grandfather, Jawaharlal Nehru, who was the country’s first. Two of them—his grandmother, Indira Gandhi, and father, Rajiv Gandhi—were as sassinated. The party governed India for more than 60 years after India gained independence from British colonialists in 1947.

Rahul Gandhi is on a 3,500-ki lometer (2,185-mile) walking tour of Indian cities, towns and vil lages over the next four months as he attempts to rejuvenate the party and win the people’s support ahead of key state legislature elec tions in Himachal Pradesh state and Modi’s home state of Gujarat. The results are likely to impact the country’s next national elections, due in 2024.

Ukraine: Explosions rock Kyiv, struck by waves of drones

By Sabra Ayres The Associated Press

KYIV, Ukraine—Waves of ex plosive-laden suicide drones struck Ukraine’s capital as families were preparing to start their week early Monday, the blasts echoing across Kyiv, setting build ings ablaze and sending people scur rying to shelters.

Even in a city that has become grimly accustomed to air strikes since Russia launched its invasion in February, such a concentrated use of drones sowed terror and frayed nerves, with people nervously scan ning the skies as they sought shelter.

Exactly how many drones nosedived into the capital wasn’t immedi ately clear. Drones used in the attack appeared to include Iranian-made Shaheds. Previous Russian air strikes on Kyiv were mostly with missiles.

In the Kyiv region alone, 13 or more drones were shot down, all of them as they flew in from the south, said a spokesman for the Ukrainian Air Force, Yurii Ihnat.

Other drones got through. The capital’s central Shevchenko district was among the areas hit, with apart ment blocks damaged and a nonresidential building on fire, Kyiv city mayor Vitali Klitschko said. He said 18 people were rescued from the rubble of one apartment building and that rescue workers were trying to extract two other people known to be under the debris.

An Associated Press photogra pher who was out shooting morn ing scenes of Kyiv caught one of the drones on camera, its triangleshaped wing and pointed warhead clearly visible against the blue sky. Drones came in several waves and buzzed overhead with angry hums from their engines.

There was no immediate word of casualties. The drones’ intended targets weren’t immediately clear but Russian air strikes over the past week have hit infrastructure, including power facilities. One drone that hit an apartment build ing caused at least three apartments to completely collapse and left a gap ing hole. Rescue workers scrambled on the rubble searching for victims amid grey smoke.

“The whole night, and the whole morning, the enemy terrorizes the civilian population,” Ukrainian President Volodymyr Zelenskyy said in a social media post. “Kami kaze drones and missiles are attack ing all of Ukraine.”

“The enemy can attack our cit ies, but it won’t be able to break us,” he wrote.

Social media video posts showed drones buzzing over the capital and smoke billowing in the early morn ing light. The sound of sustained gunfire could also be heard in one post, seemingly trying to shoot a drone down.

The Iranian-made Shaheds, which Russia has rebranded as Ge ran-2 drones, pack an explosive charge and can linger over targets before nosediving into them. They can be fired one after the other from racks. Their distinctive A-shaped wing makes them readily identifi able. Andrii Yermak, the head of the Ukrainian president’s office, also confirmed in a social media post that Shahed drones were among those used in the strike on Kyiv.

Iran has previously denied pro viding Russia with weapons, al though its Revolutionary Guard chief has boasted about providing arms to the world’s top powers, without elaborating.

The drones have also been re peatedly used by Russia elsewhere in Ukraine in recent weeks to target urban centers and infrastructure,

including power stations. They are comparatively cheap, costing in the region of $20,000, and can be used in swarms.

Their numbers present a chal lenge to Ukrainian air defenses, said Ihnat, the Air Force spokesman. Some air defense weaponry supplied by Western nations can only be used during daylight hours when targets are visible, he added.

Western nations have promised to bolster Ukrainian air defenses with systems that can shoot down drones but much of that weaponry has yet to arrive and, in some cases, may be months away.

“The challenges are serious,

because the air defense forces and means are the same as they were at the beginning of the war,” Ih nat said.

Strikes in central Kyiv had be come a rarity in the last several months after Russian forces failed to capture the capital at the be ginning of the war. Early morning strikes last week were the first ex plosions heard in Kyiv’s city center in several months, and put Kyiv as well as the rest of the country back on edge. Monday’s blasts seemed to continue what many fear could become more common occurrences in urban centers.

Russian President Vladimir Pu

tin said last week’s strikes were in re taliation for the bombing of a bridge connecting the Crimean peninsula with the Russian mainland. Putin blames Ukraine for masterminding the blast, which suspended traffic over the bridge and curtailed Mos cow’s ability to use the bridge to sup ply Russian troops in the occupied regions of southern Ukraine.

The strike on Kyiv comes as fight ing has intensified in the eastern regions of Donetsk and Luhansk in recent days, as well as the con tinued Ukrainian counteroffensive in the south near Kherson and Za porizhzhia. Zelenskyy said in his Sunday evening address that there was heavy fighting around the cit ies of Bakhmut and Soledar in the Donetsk region. The Donetsk and Luhansk regions make up the bulk of the industrial east known as the Donbas, and were two of four re gions annexed by Russia in Septem ber in defiance of international law.

On Sunday, the Russian-backed regime in the Donetsk region said Ukraine had shelled its central ad ministrative building in a direct hit. No casualties were reported.

Inna Varenytsia in Kyiv contributed to this story.

A SMOKE rises after a drone fired on buildings in Kyiv, Ukraine, on Monday, October 17, 2022. AP/EFREM LUKATSKY

www.news.businessmirror@gmail.com

editorial

Kudos to UN team in the Philippines

Thecreation of the United Nations on October 24, 1945 is one of the defining acts of the 20th century. From an original 50 charter members that include the Philippines, UN membership has exponentially grown to 193 countries today.

Established to preserve peace and build a better world for the human race, the UN maintained its relevance in line with current geopolitical realities by becoming the port of call for “problems without passports” like the Covid-19 pandemic, war crimes, the proliferation of weapons of mass destruction, environmental degradation, and mass migration.

October is “UN Month.”

UN Resident Coordinator Gustavo González said it is one of the best times in the year to celebrate the life and legacy of the United Nations in general, and of the UN System in the Philippines in particular. The UN has been a partner of the Philippine government for over seven decades, supporting state institutions to respect, uphold and implement the international treaty obligations and agreed development goals that the country has voluntarily adhered to over the years.

The UN Country Team in the Philippines consists of 11 resident funds, programs, and specialized agencies (The Food and Agriculture Organization, International Fund for Agricultural Development, International Labour Organization, International Organization for Migration, United Nations Development Programme, United Nations Population Fund, United Nations High Commissioner for Refugees, United Nations Children’s Fund, United Nations Industrial Development Organization, World Food Programme, and World Health Organization), six project offices (UNAIDS, Unesco, UN Habitat, UNODC, UNOPS, UN Women), five non-resident agencies (UNEP, OHCHR, UNOCT, DCO and ITC), and three secretariat offices (Office for the Coordination of Humanitarian Affairs, United Nations Information Center, and UN Department of Safety and Security).

González recently congratulated the members of the Philippine UN team for working so hard every day amid the pandemic to achieve their goals. He said: “Looking back on the last year, the more than 2,000 men and women serving the Philippines through the United Nations demonstrated tenacity, commitment and sacrifice to serve Filipinos in so many different ways and through a large number of programs and projects.”

Thanks to the UN’s intensive emergency response after Typhoon Odette hit the Philippines in December 2021, some 80,000 people have participated in World Food Programme’s Food Assistance for Assets projects in the provinces of Bohol and Southern Leyte and in the Caraga region. The projects are designed to meet immediate food gaps through cash and to give opportunities to communities in the affected areas to work together in cleaning and repairing damaged roads, restoring mangroves, cleaning coastal areas of massive amounts of debris, and organizing community gardens.

In the aftermath of the typhoon that affected almost 12 million people in the Visayas and Mindanao, pregnant women were especially distressed. Many of them deliberately missed their prenatal checkups in order to prioritize their family’s pressing needs. Those who were about to deliver their babies lacked supplies and essentials. As part of the UN Population Fund’s Typhoon Odette response, thousands of women received cash for health assistance to enable them to resume prenatal checkups. They were also given maternity packs, including maternity pads, newborn clothes, cloth diapers and blankets.

As we join the world in celebrating UN Month, we wish the United Nations more power and greater success as a center for global diplomacy. As the foundation for shared global progress, may the UN succeed in promoting a fair distribution of income and development opportunities in the world in line with its 2030 Agenda for Sustainable Development where 193 member states pledged to ensure “no one will be left behind.”

A united front for Philippine infrastructure

ment’s policy of encouraging private sector participation in public-private partnerships.

Manny B. Villar

They are not the sogo shosha of Japan or the chaebol of South Korea. But Philippine conglomerates are leading the way to transform the Philippines into a modern economy, starting with their strong interest in developing the nation’s infrastructure network.

The sogo shosha and chaebol were greatly instrumental in making Japan and South Korea powerhouse economies that competed with those of the United States and Europe.

Japan’s sogo sosha essentially started as trading companies before they expanded and became conglomerates. They soon found themselves into banking and finance and dominated global trade. Japan’s major sogo shosha include Nissho Iwai Corp., Sumitomo, Marubeni, Mitsubishi, Mitsui, C. Itoh, Nichimen and Kanematsu-Gosho.

These sogo shosha controlled about 10 percent of the world’s exports and over 50 percent of Japan’s overall trade in the late 1990s. They improved the lives of many Japanese and significantly raised the standard of living in the north Asian country. Japan at one time was the world’s second-biggest economy.

South Korea’s chaebol are not exact copies of sogo shosha. Yet, they were also responsible for industrial-

izing and expanding South Korea’s economy to make it the world’s 12th largest. Korea’s chaebol or conglomerates include Hyundai, Samsung, LG Group and Ssangyong.

In the Philippines, we may be seeing the birth of another version of sogo shosha or chaebol, albeit somewhat in a different context. The Sys of the SM Group, the Ayalas, Enrique Razon, Gotianuns, Gokongweis, San Miguel Corp., the Aboitizes, Metro Pacific Investments Corp. of the Salim Group, Andrew Tan, Consunjis and the Ty Group are into major industries and dominate much of Philippine businesses.

These taipans have found one common denominator—infrastructure projects. They are into toll roads, airports, water and electricity distribution, power generation, railways, ports and industrial estates.

They are heeding the call of President Ferdinand Marcos Jr. to join in the construction of major infrastructure projects through the govern-

The best financial advice

Finance Secretary Benjamin Diokno has acknowledged that the private sector plays a critical factor in the country’s recovery prospects, starting with its participation in building infrastructure projects. The administration has just approved the revisions to the 2022 implementing rules and regulations of the BuildOperate-Transfer Law to entice investors. This game-changing reform is expected to sustain the momentum in infrastructure spending despite budgetary constraints, and generate high-multiplier effects in the economy.

I must say that the private sector’s response to build and expand Philippine infrastructure projects is very encouraging. D.M. Consunji Inc. and joint venture partner Nishimatsu Construction Co. Ltd. (NCC) of Japan, for one, have obtained a notice of award from the Department of Transportation to build the Quezon Avenue and East Avenue underground stations and tunnels for the Metro Manila Subway Project.

The subway train is one the gamechangers in the infrastructure sector. The Metro Manila Subway, with a total of 33-kilometer route length and 17 stations, will cut across eight local government units that will stretch from Valenzuela City to FTI-Bicutan in Parañaque City. It will have a spur line to NAIA Terminal 3 in Pasay City.

President Marcos himself is proud of this project. He and Transportation Secretary Jaime Bautista re-

cently led the ground breaking for Contract Package 104 of the MMSPOrtigas and Shaw Boulevard Stations and Tunnels amounting to P20.46 billion.

Equally ambitious but doable are the PNR South Long-Haul Project, Subic-Clark Railway and Mindanao Railway Project costing a combined P276 billion. The government expects by the first quarter of 2023 to finalize a loan agreement with China to finance these three flagship railway projects initiated by the Duterte administration.

I am sure our own version of sogo shosha or chaebol will vie to undertake these major projects. My Villar Group, through Prime Asset Ventures Inc., has also joined the toll road business as part of its contribution to nation-building by buying 100 percent of MCX Project Company Inc. from Ayala Corp. MCXPCI is the special purpose corporation that holds the concession over the Muntinlupa-Cavite Expressway Project. My company holds major investments in subsidiaries operating in a variety of industries, including power and water utilities, information technology and telecommunication.

For sure, the golden age of infrastructure in the Philippines is finally dawning on us with President Marcos at the helm. This is enough reason to be more bullish on the Philippine economy.

For comments, send e-mail to mbv_secretariat@vistaland.com.ph or visit www.mannyvillar.com.ph

John Mangun

OuTSIDE THE BOX

There were many victims of the nearly two-year long Covid lockdowns. The proverbial “Poster Boy” in the Philippines might be Mr. Dennis Ang Uy, whose financial and business “empire” was thwarted by the nation’s economy coming to a grinding standstill.

Many—more than many—people turned to home-based businesses from food to handicrafts to provide for family income when their traditional businesses were not available. I spoke once before about a family down the road that owned a professional cleaning company that turned to direct farm-to-consumer produce supply. I have noticed dozens of homemade food companies that have now made the transition from delivery to brick-and-mortar restaurants. It is impressive what

people can do when pushed to the wall bringing life to “necessity is the mother of invention.”

I might be able to write a piece titled “What happened to all the ‘Investment Gurus’?” about those that made their living telling other people how to prosper, when they suddenly found themselves without a paying audience. Trips to visit overseas workers were not possible and their benefactors are less willing to fund those sorties even now. I also used to make my

What’s the best financial advice I can give you? Simple. Pray for good weather through Christmas. We cannot afford a major typhoon or worse, two typhoons, for the rest of the year. Food prices skyrocketed last month, and it was not due to the recent typhoon, at least not yet.

income directly advising investing clients but that ended several years before Covid.

The problem is that the investing public is capricious and demanding. The public expects the guru to be right all the time. Therefore, what we saw was “Guru Shifting” from one investment asset to another.

The local stock exchange became the pariah that no one wanted to touch and for good reason as the market fairly much collapsed in 2020. Since then, the Philippine Composite Index has made the round trip back to March 2020 levels. The ‘PSE Guru’ became the ‘Crypto Guru’ and times were good

for a while. But from April 2021, the S&P CME Bitcoin Futures Index has declined from 441 to the current 132, down 70 percent. Cash crypto buyers/holders did better depending on the entry price. The ‘New York Stock Exchange Gurus’ have fared better recently with the decline in PHP/USD exchange rate even as the Dow has also made a round turn like the PSE.

The ‘Financial Literacy gurus’ never go out of style—nor should they—although they too saw their customer base sort of evaporate.

But if the past two years were difficult for investments, it was also a hard time for traditional and previously sound financial advice.

Saving money and buying all different kinds of insurance always makes sense until it does not. “You only have to start saving a little money each month to guarantee an easy retirement” is one of those pieces of advice. But you should learn early that life is a casino where our future is tenuous at best. Realize that—as Bruce Wilds, American businessman

THE EnTrEprEnEur

Ambassador Antonio L. Cabangon Chua

For Biden and Trump, 2022 is 2020 sequel— and 2024 preview?

By Chris Megerian | The Associated Press

WAShINGTON—This year’s midterm elections are playing out as a strange continuation of the last presidential race— and a potential preview of the next one.

Donald Trump, who refused to exit the stage after his defeat, has spent months raging against Joe Biden, reshaping down ballot campaigns that normally function as a straightforward referendum on the incumbent president.

The result is an episode of political shadowboxing with little precedent, as the current president and his immediate predecessor—and possible future challenger—crisscross the country in support of their party’s candidates.

Trump has been holding raucous rallies in battleground states, where he alternates between touting his handpicked candidates and denouncing his enemies. He belittles and excoriates Biden while lying, as he did in Ohio last month, that “we didn’t lose” the last election.

Biden has so far steered clear of some of the tightest midterm races, instead focusing on fundraisers and official events where he draws contrasts between Democratic and Republican policy agendas. He often avoids direct references to “the last guy,” but on Saturday in Oregon, Biden warned that “Trump controls the Republican Party.”

Sometimes the two men travel to the same places, such as when they visited Wilkes-Barre, Pennsylvania, within days of each other, a reflection of the narrow political map that will determine which party controls the US Senate.

“It’s remarkably unusual,” said Jeffrey Engel, founding director of the Center for Presidential History at Southern Methodist University, who strained to think of any comparison in previous election cycles.

“Without exception, since the Great Depression”—Republican Herbert Hoover tried to plot a path back to power despite losing to Democrat Franklin Delano Roosevelt in 1932—“we have not had a former president who believed they still had a viable political career ahead of them,” he said.

Neither Trump nor Biden has formally announced they will run again. Trump has come close to declaring his candidacy, and Biden has said he intends to seek a second term.

If they face off again, the competition between them could become one of the longest and impactful political duels in American history, spanning several years and multiple elections.

Voters seem to have little appetite for a rematch.

A recent AP-NORC poll shows only about 3 in 10 Americans want either Biden or Trump to run for president in two years. Just 5 in 10 Democrats want Biden to seek a second term, while 6 out of 10 Republicans hope to see Trump seek the presidency again.

Engel said another battle between Biden and Trump would likely prove dispiriting.

“What that fundamentally means is our country is not moving forward,” he said. “I have not met anybody who relishes that campaign.”

However, it’s clear that both men see their fortunes tied to the other.

When CNN’s Jake Tapper asked Biden whether he’s the only one who could fend off his predecessor in another campaign, the president sidestepped the question but expressed confidence about his chances.

“I believe I can beat Donald Trump again,” he said.

Trump would take issue with the use of the word “again”—he continues to spread the lie that Biden only took office through voter fraud.

It’s an integral part of Trump’s political message, and he never fails to bring it up at rallies for Republican candidates who have endorsed his false views on the last election. Some-

times the rhetoric dives even deeper into conspiracies, a reminder that another campaign could represent an even sharper break with reality.

In Arizona, during his most recent rally, Trump darkly suggested that Biden is surrounded by “vicious, very smart people” who are “pulling strings.”

“No one thought this could happen in our country, and it all happened because of a rigged and stolen election,” he said.

The former president has also tightened his embrace of the QAnon conspiracy theory, which portrays Trump as battling sinister, hidden forces.

Using his Truth Social platform, Trump shared an image of himself wearing a Q lapel pin overlaid with the words “The Storm is Coming,” referencing his eventual victory over opponents who would be tried—or even executed—on live television.

People close to Trump have said they believe a strong performance by Republicans in November will further encourage Trump to run again in two years, as he has been openly teasing for months.

In addition to his rallies, which earn candidates local media attention and fire up the Republican base, Trump has been helping candidates in other ways, holding fundraisers and tele-rally calls on their behalf. Most significantly, last week, his new super PAC, MAGA Inc., reserved nearly $5 million in airtime for ads in key states attacking the opponents of his favored candidates.

The first round of ads from the group notably do not feature Trump or even mention his name. Republicans have expressed frustration that Trump was hoarding small-dollar donations for himself and refusing to help the candidates he had pushed voters to nominate, despite sitting on an enormous war chest.

But Mike DuHaime, a longtime Republican strategist, isn’t sure the outcome of the midterms will make a difference in Trump’s plans for the next presidential race.

“He’ll take credit for every win and deflect blame for every loss,” he said.

Trump has claimed, as he did in Pennsylvania last month, that the midterms are “a referendum on the corruption and extremism of Joe Biden and the radical Democrat party.”

But DuHaime said Trump has prevented that from happening by injecting himself into this year’s races, providing a boost to Biden, whose poll numbers remain underwater as voters express concerns about the economy.

“Trump is no ordinary president, nor did he really seem to care about the party,” he said. “He seems to care about himself more than the party that put him in office.”

Biden’s circle has a similar view. An adviser, speaking on the condition of anonymity to discuss internal conversations, said those around Biden see the midterms as having become more of a choice than a referendum. Trump’s presence on the trail, the adviser said, is seen as helping make Democratic points for them.

Celinda Lake, a Democratic pollster, said the only thing more helpful would be if Trump announced another presidential campaign.

“He’s getting dangerously close to that,” she said. Biden has deferred any announcement about his own candidacy until after Election Day, keeping his focus on the midterms.

Like other incumbent presidents in an election year, Biden has blended his political and governmental duties as voting begins.

Associated Press writers

Jill Colvin in New York and Hannah Fingerhut in Washington contributed to this report.

Opinion

Sun, wind, ocean

atty. irwin C. nidea Jr.

Tax law for business

Thesun, wind and ocean are inexhaustible. So, no matter how many times you use their energy, they will never be diminished or contained. This is why the Department of Justice (DOJ) and the Department of energy (DOe), rising to the call for clean energy and as a positive response to fight climate change, have resolved to interpret Section 2, Article 12 of the 1987 Constitution in favor of our one and only planet earth.

The DOJ has opined that exploration, development, and utilization of inexhaustible renewable sources, which includes the sun, wind and ocean, are not subject to the limitations of foreign ownership to 40 percent as prescribed under Section 2, Article 12 of the 1987 Constitution. In the said opinion, the DOJ ruled that the limitations of foreign ownership only apply to matters that are “susceptible to appropriation,” that would include coal deposits and waters, direct from the source.

According to the DOJ, what the Constitution seeks to preserve are the country’s “limited and exhaustible resources.” The phrase “all forces of potential energy” as stated in the Constitution does not include kinetic energy, such as the sun, wind and ocean.

The government is consciously getting its act together to develop a healthy fiscal and non-fiscal incentives for foreign investors. The tax

incentives of RE developers have been amended and clarified in Revenue Regulations 7-2022. The said RR mandates that local supplier of goods, properties, and services must only require from the RE Developer a copy of the latter’s BOI Registration and DOE Registration for value-added tax zero-rating to apply. Thus, local suppliers/sellers of goods, properties, and services of duly registered RE developers are not allowed to pass on the 12 percent VAT on the latter’s purchases of goods, properties and services that will be used for the development, construction and installation of their power plant facilities. This includes the whole process of exploring and developing renewable energy services up to its conversion into power, including but not limited to the services performed by subcontractors and contractors.

All manufacturers, fabricators, and suppliers of locally produced RE

According to the DOJ, what the Constitution seeks to preserve are the country’s “limited and exhaustible resources.” The phrase “all forces of potential energy” as stated in the Constitution does not include kinetic energy, such as the sun, wind and ocean.

equipment are also subject to zerorated VAT on their transactions with local suppliers of goods, properties, and services needed in the manufacture/fabrication of RE equipment. They must only show their BOI and DOE certifications as well as the BOI and DOE certifications of the RE developers.

Local purchases are zero-rated. Importation of equipment necessary for the exploration and development of the facilities, on the other hand, is vat exempt. But the equipment must, among others, be proven as not having been manufactured domestically in reasonable quantity and quality at competitive prices, as certified by the Department of Trade and Industry (DTI). This policy aims to protect the local industry.

With the opening of the renewable industry to 100 percent foreign ownership, should this protection given to local suppliers be scrapped? If the country is committed to encourage foreign investments in RE, it is better to set the tone with not many pre-conditions and red tape, and allow these foreign investors to bring their own technology and equipment, tax free. On the other hand, our local industry must be

Bank run shows risks from widening Vietnam corruption probes

By John Boudreau | Bloomberg Opinion

IT was a jarring image for one of the world’s fastest growing economies: Scores of Vietnamese flooded branches of the nation’s fifth-largest bank to pull out their savings amid rumors the lender was tied to a real estate conglomerate under investigation for fraud.

Vietnam’s central bank spent the last week calming markets and depositors while Saigon Commercial Bank raised interest rates and lured back customers. On Saturday, the regulator said it would place the privately held lender under “special scrutiny” and directed four banks to help manage it.

The episode underscores the challenges facing an economy that the government expects to expand 8% this year—one of the highest rates worldwide—but where debt burdens are rising for the government, households and businesses. The developing country, whose communist leaders began embracing a “market economy with socialist orientation” about three decades ago and now hosts firms such as Apple Inc. and Samsung Electronics Co. is grappling with a prolonged campaign to weed out corruption and tighten guardrails in its markets.

The benchmark VN Index fell as much as 2 percent Monday, the first day of trading after SCB was put under “special scrutiny.” JSC Bank for Foreign Trade of Vietnam lost as much as 3.2 percent while Tien Phong Bank, Bank for Investment and Development of Vietnam fell by at least 2.4 percent.

While Vietnam’s financial system is on “solid ground,” vulnerabilities remain, said Miguel Chanco, chief emerging Asia economist at Pantheon Macroeconomics Ltd.

Mangun.

. Continued from A14

and individual investor says it— “Much of our personal circumstances and lives revolve around money and the number of options it gives us when we possess it, which you can lose in a blink of an eye if things go against you.”

“Capital adequacy ratios were on a steady decline before Covid hit, and it remains particularly low for most state-owned banks, and household debt has risen sharply in the past decade or so,” Chanco said. “It’s no surprise that confidence in the sector still is somewhat fragile, as highlighted by the rush to withdraw deposits.”

Police on October 8 announced the detention of Truong My Lan, chairwoman of real estate conglomerate Van Thinh Phat Holdings Group, and other company officials in connection with an investigation into the issuance and trading of bonds of some companies where trillions of dong were allegedly appropriated in 2018 and 2019, according to the Public Security ministry. Lan couldn’t be reached for comment after her arrest, and Van Thinh Phat didn’t respond to earlier requests for comment.

Ties between Saigon Commercial Bank, also known as SCB, and Van Thinh Phat haven’t been officially acknowledged and previous local media reports citing the link have been taken down. In a statement, the bank said Lan “does not participate in the management and administration of SCB.”

The lack of transparency fueled rumors. Police have investigated numerous individuals for posting what they say is fake news about SCB and urging customers to withdraw their money, local media reported.

You and your family’s financial well being is not going to be found sitting on your couch and following a nice and neat set of “literacy” rules. Many, too many, Filipinos saw their life-savings almost if not totally wiped out during the lockdowns. And they were forced to break my only “financial literacy” rule. Never borrow money to “buy things” because when—not if—the famine comes

The investigation into the Van Thinh Phat Holdings Group follows a plethora of other probes this year, ranging from alleged stock manipulation to accusations of bribes involved in Covid-19 test kits and pandemic repatriation flights. Corruption cases uncovered from Oct. 2021 to Sept. 2022 increased by 41 percent year-over-year, according to a posting on the government’s website, citing data from the Ministry of Public Security.

The memory of past crises hangs heavy over Vietnam’s leaders. The country has done much to clean up its banking system since 2012, when a lending spree and weak controls led to a surge in bad debts, the arrest of bank executives and a plunge in stocks. Non-performing loans stood at 17 percent at the time.  Bad debt in banks was at about 1.9 percent in 2021 compared with 1.7 percent in 2020, according to the central bank’s Deputy Governor Dao Minh Tu. Bad debt in listed banks climbed slightly to about 2.1 percent as of June, the news website VnEconomy reported.

Loan growth this year was about 10.5 percent as of September 20 and the State Bank will intensify scrutiny of bank lending, particularly in risky areas such as property projects, Tu said last month. The regulator has set the 2022 credit growth target at 14 percent.

Prime Minister Pham Minh Chinh directed commercial banks to comply with the law, strengthen governance and financial capacity while ensuring operational safety,

you will be forced to borrow money to survive.

Borrow P70,000 to buy an iPhone 14? It makes more sense to borrow P70,000 and spend it all on ChickenJoy and put it in your freezer. What’s the best financial advice I can give you? Simple. Pray for good weather through Christmas. We cannot afford a major typhoon or worse, two typhoons, for the rest of the year.

encouraged to grow and cope with its more advanced foreign competitors. An economist would say that if our local industry cannot match the price and quality of foreign equipment, then they should close and look for an industry where they can be competitive. But a politician will, of course, have a different view.

The opening up of the RE industry to 100 percent foreign ownership is a first big leap that can pave the way to review this policy, and many others. But the DOJ opinion remains as that—an opinion. The implementing rules of the Renewable Energy Act of 2008 must be amended to reflect this new direction. It is also an opportunity to review all other policies that may dampen foreign investor’s appetite.

The tax incentives given to renewable energy developers are substantial and at some point, are even more generous compared to other industries. I hope that foreign investors will see this and be encouraged to help tap our vast oceans and tropical climate for clean energy. This will not only boost our economy but also help heal our planet.

The author is a senior partner of Du-Baladad and Associates Law Offices, 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 rwin.c.nideajr@ bdblaw.com.ph or call 8403-2001 local 330.

according to a post on the government’s website, which cited Chinh at a Sunday meeting with banks leaders. Shortcomings in the stock, corporate bonds, and real estate markets have affected credit institutions, requiring more supervision, he said.

The investigation into the Van Thinh Phat Holdings Group follows a plethora of other probes this year, ranging from alleged stock manipulation to accusations of bribes involved in Covid-19 test kits and pandemic repatriation flights. Corruption cases uncovered from October 2021 to September 2022 increased by 41 percent year-overyear, according to a posting on the government’s website, citing data from the Ministry of Public Security.

Authorities began looking to root out corporate bond violations after the spring arrests of the former chairman and chief executive officer of Tan Hoang Minh Group during an investigation for alleged fraudulent appropriation of property. The government canceled the company’s nine bond offerings worth more than 10 trillion dong ($415 million).

The latest investigations underscore “lingering risks” of bond misconduct in the banking and real estate markets, SSI Securities Corp., the nation’s second largest brokerage, said in a note to investors last week. “Although recent market corrections have partially reflected this news, we believe that negative sentiment will remain, especially when a large amount of corporate bond is set to due within 2023-2024.” With assistance from Karl Lester M. Yap, Nguyen Dieu Tu Uyen, Nguyen Kieu Giang and Jamille Tran / Bloomberg.

Food prices skyrocketed last month, and it was not due to the recent typhoon, at least not yet. With good weather, prices will still go up. With bad weather, we are in trouble.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

DA, SRA TO OFFER SOON SUGAR AT P70 PER KILO

THE Department of Agriculture (DA), in coordination with the Sugar Regulatory Admin istration (SRA), said it will start selling sugar at P70 per kilo in Kadiwa and SRA offices in Quezon City and Bacolod City.

In a statement on Monday, the Agriculture department said the Kadiwa rolling stores and Kadiwa on Wheels will be selling sugar at the same price to make sugar affordable and accessible to consumers.

“ Sugar sold by DA-SRA, through the Kadiwa stores are intended for direct consum ers and are not for resale,” the DA said on Monday.

Consistent with the gov ernment’s commitment to make basic commodity af fordable to the common Fili pino people, the DA-SRA has asked each importer under the Sugar Importation Policy for Crop Year 2022-2023 to commit 10 percent of their imported sugar allocation to be sold, through DA at P70 per kilo in order to have ample supply of affordable sugar.

A ccording to the SRA, the said initiative is a “temporary measure” while awaiting sug ar mills to be in full swing.

T he Sugar agency also

noted that once the majority of the country’s sugar mills operate fully, sufficient sup ply of affordable sugar will be available.

T he DA noted that the lo cal supply has earlier been augmented by the volume imported under Sugar Order 2 through the efforts of the private importers.

A s of October 14,2022, the DA said the SRA has issued clearances for imported sugar to 13 international sugar trad ers with a volume of 33,773.50 metric tons (MT) of refined sugar that is intended for con sumers and end users.

Further, the Agriculture department noted, part of this sugar will be distributed or sold at P70 to P80 per kilo to various groceries and su permarkets as well as public and wet markets through the Kadiwa Project of the DA and the SRA.

A part from this, the DA said the Sugar agency had also issued clearances with a volume of 6,625 MT that is intended for industrial users.

T he imported sugar, it noted, is expected to arrive in the country between the months of October and No vember 2022.

Andrea E. San Juan

Agri leaders, millers, NFA to buy rice at higher farm-gate price

By Jovee Marie N. dela Cruz @joveemarie

LOCAL agriculture leaders, millers and the National Food Authority (NFA) on Monday forged an agreement to purchase 7.5 million metric tons of palay from local farmers at a higher farmgate price between P19 a kilo to P20 a kilo.

D uring the celebration of World Food Day, the Samahang Industriya ng Agrikultura (SINAG), Philippine Confederation of Grains Associa tion and the NFA signed a memo randum of agreement (MOA) to help rice farmers cope with the rising cost of production.

At no point in time that our rice farmers need the help of both the private sector and the government amid the flooding of imported rice in the country,” SINAG said in a statement.

It added that the objective of the MOA is to assure and encourage Filipino rice farmers to continue planting and that there is a market for their produce and support from government and the private sector will continue.

T he group said the MOA will also serve as an eye opener to other government agencies that dependence on imports will only kill local producers and the “global market is ultimately whimsical and protectionist, unreliable and too expensive.”

I n a September report, the Philippine Statistics Authority (PSA) said the average farm=gate price of palay per kilogram at the national level inched up to P17.85 in July 2022, which was 1.5 percent higher than the pre vious month’s average price of P 17.58 per kilogram.

A ccording to SINAG Chairman Rosendo So, they have pledged to commit P150 billion, to purchase around 7.5 billion kilos or 7.5 mil lion metric tons of palay this har vest season.  “ This represents more than 90

Credit card payments up 20% despite pandemic–Medalla

By Cai U. Ordinario @caiordinario

The rampant activities or pro cess and scammers are compelling reasons for the passage of SIM card registration,” Medalla said.

C CAP Chairman Rolando P. Ebreo, in his welcome remarks on Monday, said the SIM Registration Act is a key step toward removing impediments to digitalization.

E breo also said the new law adds a layer of protection for Filipino consumers to prevent them from falling prey to scam messages.

Movement to raise consumer aware ness on emerging modus operandi and fighting credit card fraud.

T he organization also contin ues to work with government enti ties to promote consumer welfare through initiatives that focus on the responsible use of credit cards and consumer protection from smishing attacks and other credit card-related fraud.

In a speech at the 42nd Anniver sary of the Credit Card Association of the Philippines (CCAP), Central Bank Governor Felipe M. Medalla said the credit card industry has been prudent and managed its portfolio.

Medalla said credit card receiv ables have started to post doubledigit growth in 2022, reaching 20.4 percent year on year in July 2022. He added that non-performing loan ratios declined to 5.7 percent dur ing the period.

Collaborative efforts provide strong support in carrying out our second pillar of ensuring a resilient and stable financial system. De spite a challenging operating envi ronment, the credit card industry managed to grow its portfolio in a prudent manner,” Medalla said.

I n her speech, BSP Deputy Gov ernor Chuchi Fonacier said the credit card industry has also been at the forefront of extending the Central Bank’s temporary relief measures for Filipinos during the pandemic.

F onacier said as of July 2022, majority of restructured con

sumer loans were credit card re ceivables of P6 billion which com prised 56.3 percent of the total during the period.

Apart from keeping finance charges within the BSP’s ceilings on credit card transactions, the industry led the way in restructuring credit card receivables,” Fonacier said.

“ We likewise appreciate the ac tive engagement of CCAP in the BSP’s initiatives, particularly in the regular review of the credit card ceilings. The inputs and feedback of the credit card industry form part of the BSP’s holistic assessment of the appropriateness of the credit card ceilings,” she added.

SIM card law

MEDALLA also agreed with CCAP’s support for the SIM Registration Act, saying that the new law will help prevent the proliferation of crimes such as bank fraud and tax scams.

T he Central Bank Governor commended CCAP for its advocacy to educate and raise awareness to fight credit card fraud through its campaign against “Budol.”

He said these messages contain links and lure recipients into sharing private information, thereby allowing these scammers to victimize them.

We fully supported the ideals of the SIM Registration Act and that despite its disapproval in December 2021, we have continued to follow through on the interim measures we can implement through the tele communications companies and through the National Telecommu nications Commission,” Ebreo said.

I n the past two years since digi tal payments accelerated in the Co vid-19 global pandemic, CCAP has been pushing players in the tele communications sector, regulators, and lawmakers to adopt stricter measures and enact laws against SIM-related fraudulent activities.

T his, after noting a 21-percent in crease in fraudulent credit card activi ties since the start of the pandemic in March 2020 as consumers shifted to various digital payment platforms due to mobility restrictions.

CCAP Executive Director Alex Ila gan said these challenges prompted CCAP to launch its #FightBudol

CCAP members, along with the BSP, also continue to help alleviate credit card debt by helping debtors pay off their outstanding payments through the Interbank Debt Relief Program.

As the effects of the pandemic linger, CCAP and its members will continue to work together in offer ing more liberal debt restructuring/ forbearance programs to allow card holders in financial distress repay their obligations and regain good credit standing,” Mr. Ilagan added.

W hile the law on SIM registra tion has finally been enacted, CCAP vowed to “continue to evolve by col laborating with more government agencies to promote consumer rights and protection,” said CCAP President Mags Surtida.

S he said CCAP will expand its reach to other payment landscapes and conduct more credit education webinars in schools and compa nies. “We want to work with card schemes closely to innovate our credit card products to be more tech savvy and to reach a more relevant target market. Exciting times are ahead and there is more meaning ful work for us,” Surtida said.

percent of the projected palay har vest of 8 billion kilos (8 million metric tons),” he said.

We thank the NFA for commit ting to provide the private sector with its warehouses, other postharvest facilities and personnel support in the purchase of palay from our rice farmers,” he added.

Fuel, fertilizer subsidies

MEANWHILE , the multi agri-in dustry alliance also urged the De partment of Agriculture (DA) to expedite the distribution of fuel and fertilizer subsidies to rice and corn farmers.

We are also appealing to the DA to formally support the position of the local agri culture industry in rejecting the proposals to reduce the tariffs on pork and mechani cally deboned meat; we must not only leave no one behind, but let those behind to be in front,” Sinag added.

O f the total 512 million tons of global rice stocks, SINAG said only 50 million tons or less than 9 percent are traded globally this year.

It added that the reported rice export ban in India—with 30 per cent of global rice production—and the seeming alliance of Thailand (13 percent of total rice exports) and Vietnam (15 percent of total rice exports) to raise rice prices will heavily impact on all net rice importing countries, including the Philippines.

“ With less than 10 percent of pro duction traded globally, we have a very thin international rice market; with only five major rice exporting countries—India, Vietnam, Thai land, Pakistan and Myanmar,” said SINAG.

“ Let us continue to work for a permanent shift in the agriculture strategy for a sustainable and much localized food production to meet staple food demands, thus ensur ing that more food is grown where it is needed,” it added.

DTI orders 51 retailers to explain overprice

THE Department of Trade and Industry (DTI) said it has ordered 51 retail firms to submit a written explanation for selling overpriced basic necessities and prime commodities (BNPCs).

“ The DTI issued a Show Cause Order (SCO) to 51 retail firms for apparently selling BNPCs priced more than 10 percent higher than preceding month; and without or with an inconsistent price tag,” the Trade department said in a state ment on Monday.

T he agency added that the SCO has given these firms 48 hours from receipt within which to submit a written explanation.

A ccording to Section 5 or Repub lic Act No. 7581, as amended by R.A. 10623 or the Price Act, profiteering exists whenever a person raises the price of any BNPC he sells or offers for sale to the general public by more than 10 percent of its price in the immediately preceding month.

T his was among the price moni toring inspections conducted by the DTI-Fair Trade Enforcement Bureau (FTEB) under its recentlylaunched program “Sweeptember” within the National Capital Region (NCR).

T he DTI noted that this program aims to ensure stable prices and supply of BNPCs.

F TEB Officer-in-Charge (OIC) Director Atty. Marimel Dancel Por ciuncula and FTEB OIC Assistant Director Atty. Joseph Manuel P. Pa mittan spearheaded the DTI moni toring teams in inspecting the price and supply of BNPCs carried by 76 retail firms within Pasig, Parañaque, Malabon, and Quezon City.

O f the 76 inspected retail firms, the DTI noted that 70 are compli ant with the Suggested Retail Price (SRP) bulletin released on August 12, which it said translates to over 92 percent SRP compliance rate in the NCR.

However, the Trade department also noted that six were issued a

letter of inquiry (LOI) for selling items priced higher than the SRP. With this, DTI said the stores have to submit a written explanation within 72 hours from the receipt of the letter. To date, it said, four out of the six already submitted their written explanation.

D TI-Consumer Protection Group (CPG) Undersecretary Atty. Ruth B. Castelo underscored the importance of adhering to the SRP bulletin as this gives consumers the freedom to choose products that they can afford. Castelo also com mended the cities with firms who complied with the price bulletin.

DESPITE a challenging environment, the Bangko Sentral ng Pilipinas (BSP) said the country’s credit card payments have increased 20 percent as of July this year.

LEFT to right, DILG Secretary Benhur Abalos Jr., Councilor Benjie Abalos, Mandaluyong City Mayor Benjamin Abalos Sr., DepEd Secretary Sara Duterte, Vice Mayor Menchie Abalos and Dr. Ali Ibrahim Al-Malki, Ambassador of State of Qatar to the Philippines during the ceremonial turn over of the educational materials to day care children at Mandaluyong City Hall on October 06, 2022. NONOY LACZA

Companies

PNOC secures nod of board to proceed with ESB project

By Lenie Lectura @llectura

State-run Philippine national Oil Co. (PnOC) will pursue the rehabilitation of its energy Supply Base Port (eSB) project, the state firm’s new president and former energy undersecretary said.

“The board of directors finally agreed to proceed with it because there will be little revenue we’re looking down the road and we will be relying on eSB as well as the PnOC industrial park to be our vehicles of revenue,” said Jesus Cristino Posadas.

PnOC’s approved budget for the project is P1.036 billion. “At that time, it was the height of Covid. The

board of directors saw it fit that we should not proceed. With this the drive for more energy exploration and exploitation, the eSB was created to support that so the board of directors’ decision to proceed, we find it very encouraging to support the energy resource development,” said Posadas. He added that PnOC plans to utilize 15 percent of the budget, or P248 million, next year.

The state firm signed last April a memorandum of understanding with the Philippine reclamation Authority (Pr A) for the reclamation of the 3,772 hectares component of the proposed project.

The eSB is a 19-hectare property in Mabini, Batangas which offers pier services, warehousing facilities, cargo handling, equipment rental, manpower services and water service.

The project will include the reclamation of 37, 270 square meters along Batangas Bay and the extension of the piers to reach the 12-15 meters depth.

l ast September 8, the eBS updated the Bureau of Fisheries and Aquatic resources on the status of the documentary request from the Mabini Municipal Agriculture Office as part of the requirements of the Pr A for the issuance of an area clearance.

The eSB was created under l etter

of Instruction no.563 dated June 24, 1977 which directed PnOC to provide easy availability and accessibility of support and logistics facilities for onshore and offshore exploration activities in petroleum and other energy related fields.

PnOC said it has extended its services to other commercial clients pursuant to the grant of a Permit to operate as a private commercial port (Certificate of registration no. 291) in October 1996 by the Philippine Ports Authority.

The PnOC and PnOC-ex ploration Corp. (eC) Boards approved the transfer of operations of the eSB from PnOC-eC to PnOC in February 2017. The transition and turnover of eSB’s operations and corporate services functions from PnOC-eC to PnOC was completed on December 31, 2017. On January 1, 2018, administration and operations was assumed by PnOC.

‘PLDT weighing $300-M tower sale’

PlDT Inc. is considering selling an additional 2,000 telecommunications towers, according to people with knowledge of the matter, extending the Philippine firm’s recent digital infrastructure asset divestments.

The country’s second-biggest telecom and digital services provider by market value is talking to banks for the potential disposal, said the people. A transaction would involve PlDT selling the towers and then leasing them back, and could value them at about $300 million, they said, asking not to be identified as the process is private.

PlDT divested half its towers in April for P77 billion ($1.3 billion) in two portfolios to units of edotco Group Sdn. and edgePoint Infrastructure, according to a company

ICTSI unveils mobile app

I n T e rn A TIO n A l Container Terminal Services Inc. (ICTSI) said on Monday its mobile app for cargo visibility is now available for download in the Philippines.

Called the ICTSI App, the mobile platform features digital tools that allow users to monitor and manage shipments at the Manila International Container Terminal, n o rthPort, Subic Bay International Terminals and Mindanao Container Terminal by facilitating access to real-time shipping information directly from the concerned terminal.

Using the app, customers can place vessels, containers and trucks on a watchlist and subscribe to status notifications via email or text for timely updates.

This eliminates conflicting and late information that could lead to less optimal logistics planning and increased cost. Users are required to create an account to get full access to these transparency features.

These services enable port users to optimize their shipping experience through ICTSI and reduce costs, according to Brian Hibbert, ICTSI Group chief information officer. Lorenz S. Marasigan

statement in April.

Deliberations are still ongoing and PlDT could decide to keep the business, the people said. A represen-

val Globe Telecom Inc. in selling three portfolios of towers. Globe signed a sale and leaseback deal worth P20 billion last month with a company backed by Macquarie Capital and Global network Inc. The deal followed the disposal in August of two other tower portfolios to a KK r & Co.-backed company and a Stonepeak joint venture for about P71 billion.

Pl D T, which has a market value of about P321 billion, is backed by Japan’s n i ppon Telegraph & Telephone Corp. and Hong Kongbased investment firm First Pacific Co., according to data compiled by Bloomberg. The company’s total mobile subscribers stood at about 69 million by the end of June, while its broadband services had around 4.1 million users, its latest investor presentation shows. Bloomberg News

SM’s 80th mall opens in Tanza, Cavite

AS part of a province with a rich historical tradition, Tanza in Cavite is the place where emilio Aguinaldo was sworn in as President of the revolutionary government of the Philippines. It is also the birthplace of Felipe G. Calderon, who composed the Malolos Constitution.

It’s another date with history on Friday, October 14, 2022 when SM City Tanza opens its doors to the public as SM Prime’s 80th mall. It is also the 7th supermall in this historic and bustling province after SM City Bacoor, SM City Dasmarinas, SM City Molino, SM City rosario, SM City Trece Martires, and SM Center Imus. SM also has a Marketmall in Dasmarinas.

Strategically located in a 86,718 square meter site along Antero Soriano Highway, SM City Tanza will serve shoppers in the northwestern areas of Cavite as well as in nearby Batangas. More than that, it will be a catalyst for employment and business opportunities in the area.

The two story almost 60,000 square meter mall’s design is inspired by the chief means of livelihood in Tanza, which is farming and fishing, as well by its nearby beach resorts in the coastlines. Symbolizing warmth from the colors of the boats and serenity of the seas, it’s interior is configured in an l shaped layout, provided with natural clerestory light

that stretches across the mall area, including the Cyberzone.

The ceiling is accented with curvilinear cove light lines depicting the ripples of the sea. The mall also has a 1,500 square meter events Center which for activities and exhibits. It also features a lush landscaped indoor area that will provide the mall with a place to relax, shop, and dine.

SM Store and SM Supermarket are SM City Tanza’s major anchors along with SM Appliance Center, ACe Hardware, Watsons, Surplus, Uniqlo, Pet ex press, Miniso, l evi’s, and Crocs. It will also have fashion boutiques, jewelry stores, bookstores, as well as service and wellness centers.

eating out options include a Food Court; specialty restaurants like Mesa, Botejyu, The Great Buddha Café, Marugame Udon and Tempu-

ra, and Crustasia Asian Bistro; and international and local food chains like Kenny rogers, Panda ex press, Bon Chon, Coffee Bean and Tea l eaf, Mary Grace Café, Breadtalk, J. Co Donuts and Coffee, and Starbucks.

SM City Tanza will also have five state of the art cinemas and a Cyberzone for techie enthusiasts.

For its customer’s convenience, and enhanced malling experience, SM City Tanza will have almost 800 slots in its carpark. The new mall will also have public transport terminals for inter-province, and inter region travel that will further boost tourism and commerce in the area.

SM City Tanza’s project team includes DSGn, Design Consultant; Asya, Architect on record; r M Cabanela, Construction Management; and Dahn Bager, General Contractor.

‘ARTA made great strides in improving business climate’

By Andrea E. San Juan @andreasanjuan

Over 30 private and business groups are appealing to the Office of the Ombudsman to work with the Anti- r e d Tape Authority (A r T A) to improve government services.

In a joint statement released by the Management Association of the Philippines (MAP) on Monday, 32 private and business organizations expressed concern over the Ombudsman’s call to abolish the anti-red tape watchdog.

“We agree that the Ombudsman, within the wide scope of its authorities, has a role to play in improving government services, but A r T A’s primary role is to improve government services,” the business groups said.

With this, the group said the Ombudsman and A rTA “complement each other’s functions, hence, both should be working together.”

The groups noted that the difficulty of doing business with the government has always been a problem for businessmen, noting that it is a “disincentive” to invest in the Philippines. That’s why, the groups added, “it was welcomed when Congress passed r e public Act 11032 creating the Anti- r e d Tape Authority (A r T A).”

The business groups said that while much improvement is still desired in the area of ease of doing business, the anti-red tape watchdog, in the three “short” years of its creation, has made “great strides.”

For instance, it said, approvals for permits and licenses have been simplified and fast-tracked.

“The 3,7,20 requirement, detailing the number of days within which approval must be granted, has seen many provincial government agencies and local governments introduce procedures to attain its swift attainment of approval,” the business groups said.

At a recent Senate hearing on A r T A’s proposed P266-million budget for next year, Senate President Juan Miguel F. Zubiri said, “It pains me to see that there are still agencies that are giving this law a difficult time.”

The Senate leader recalled that the Office of the Ombudsman had asked for the repeal of the law and the abolition of A r T A. Zubiri stressed, “I think we need to dialogue with these agencies all the way to the very top to show them this is the best practice being done all over the world.”

The senate leader added, “if we want foreign direct investment to come here to the country, evel local direct investments, we need this law in place.”

The A r T A is mandated under r A 11032 or the e a se of Doing Business and e f ficient Delivery of Government Services Act to implement the national policy on anti-red tape.

The 32 business groups include the Alyansa Agrikultura, American Chamber of Commerce of the Philippines, Cebu Business Club, e m ployers Confederation of the Philippines, e u ropean Chamber of Commerce of the Philippines, Financial e x ecutives Institute of the Philippines, Investment House Association of the Philippines and IT and Business Process Association of the Philippines.

tative for PlDT couldn’t immediately comment.

Should PlDT proceed with the planned sale, it would be joining its ri-

Photo shows

and

apparatus, manufactured by Ericsson AB, on a te lefonica SA

network mast in Barcelona, Spain,

Wednesday,

Loc AtEd along Antero Soriano highway, SM city tanza will serve shoppers in c avite’s northwestern area and nearby Batangas. More than that, it will be a catalyst for business and employment opportunities in the province. contriButed Photo

Banking&Finance

Agribank launches mobile app in digitization strategy

AGRIBUSIN e S S Rural Bank Inc. (Agribank), one of the leading rural banking institutions in the Philippines, has begun its transition to digital banking.

On Monday, Agribank launched a new mobile banking application that can be used by Android and iOS users through its collaboration with digital banking software provider Geniusto International Ltd. and Oradian inc. for their cloud-based core banking system.

Agribank intends to use the mobile application to publish new services and product offerings in real time. This will also upgrade its capability to ensure their customers can bank seamlessly and with more efficiency than ever before.

“Ang serbisyong pang siyudad, dadalhin namin sa kanayunan,” Agribank President and CeO Danny Boy M. Antonio said. [We will bring citylevel services to the countryside.]

“Agribank is making every effort to uphold its corporate tag as your rural bank that cares.”

Antonio said fellow Filipinos are “at the center of all our efforts to improve our banking services… as we commit to serving the rural and underbanked communities by bringing them the next-generation banking experience.”

He said Agribank intends to contribute to financial inclusivity by offering mobile services through

its new mobile banking application.

Geniusto will deliver mobile banking services to Agribank’s clients through Oradian’s advanced cloud-based core banking system.

Oradian’s flexible and extensible banking system uses APIs (application programming interface) to power third-party integrations, allowing Agribank to rapidly add new features or launch new products.

“By empowering both the rural banks and their customers with mobile banking, we allow the small institutions to remain relevant within their communities and to compete with the huge uni-banks and alternative financial services operators that have been eroding the rural bank’s traditional role,” Geniusto CeO Matthew ed munds said.

Agribank, formerly known as the Rural Bank of Santa Fe (NV) Inc., was established in Santa Fe, Nueva Vizcaya in 1978. Apart from Nueva Vizcaya, the bank now serves clients in 11 other provinces.

These provinces are Nueva ecija, Oriental Mindoro, Occidental Mindoro, Sorsogon, Camarines Sur, Albay, Catanduanes, Palawan, Romblon, Bohol and South Cotabato.

Agribank is considered the number-1 rural bank in Region 2 and one of the fastest growing banks in the country with a total resources of over P3.5 billion and is supported by over 700 bankers and professionals.

Cai U. Ordinario

What do we do during difficult times part 1

Inquiry from a follower:

Dear Raymond,

I am a private-sector employee earning around P25,000 a month. These past months it has become difficult for me to maintain my family lifestyle. Due to the rapid increase in prices of goods and services, my savings have been dwindling little by little. What should I do? I’m almost at a loss and I am losing hope.—“Edgar”

De AR edgar, You are not alone in feeling the pinch due to rapid inflation (the rate of increase in the prices of goods and services). This past September, inflation was estimated to be at 6.9 percent. This rate is already higher than the returns of government bonds. There are several factors that affect inflation in general.

The first one is the ongoing war between Russia and Ukraine. Since the latter is a major supplier of wheat across the world, supplies could not meet the demand, and so the prices of anything that directly or indirectly consumes wheat goes up. Wheat is used for production of baked goods like bread. It is also used as feeds for chickens. If the cost of raising chickens and producing basic goods like bread goes up, so does the selling or market price.

The second factor that impacts inflation is the supply of oil or gas. Russia is one of those major gas producers in the world. As the war goes on, Russia is unwilling to supply gas to several countries that conflicts with their war stance, such as eu rope. The lack of gas affects living costs (gas is used in electricity, in cooking, in transportation of both personal nature and commodities delivery) and so prices of goods and services continue to go up.

The third factor, but not the last one to impact inflation is the strength of the US dollar. Record high inflation applies not just to the Philippines but most of the world, which also includes the United States of America. To combat the rising inflation in the US, the Federal Reserve (similar to our BSP here) has been increasing its key interest rates (this means higher returns for US treasury bills and bonds and higher borrowing costs if you were to take out a loan).

Since the US has traditionally been viewed as a safe haven for investments, and combined with the higher yield or return for US treasury bills, investors would then shift their money holdings from high-risk countries (such as ours), and place their money back to the US.

Investors would feel that their money is safer in US Treasury bills rather than

risking it in stocks or bonds of developing countries. With the exodus of investments, comes a weakening of the exchange rate of the Philippine Peso. A weak peso will make imported products more expensive. If we import sugar, meat, and others. All those stand to be affected.

In this difficult environment, here are the best things you can do, edgar. For one, you need to cut on unnecessary expenses. If you spend a lot on dining out often, now is the time to look for food promos and schedule them only a few times a month. You will need to learn to cook and to eat a bit less.

Second, if you have regular monthly subscriptions such as cable TV, gym memberships, country club dues, now would be the best time to cut them off especially if you do not use them. By cutting them off, you can save a lot more during the remainder of the year as well as next year. You can still exercise for free at the comforts of your home. There are also nature parks where you can walk or jog for free, plus for the view.

Third, once you have exhausted all your cost saving measures, you may need to upscale or upgrade your skills in order to earn more. In difficult environments like these, it is not advisable to quit your job, especially if you are already a higher ranked employee or one with longer tenure. Try to look for freelance job websites that help you earn in US dollars. There are many opportunities there provided you are willing to learn and adjust. You only need determination, the skills, and a stable internet connection to make it happen.

“May the God of hope fill you with all joy and peace in believing, so that by the power of the Holy Spirit you may abound in hope.” (Romans 15:13)

Raymond Anthony Quisumbing is a registered financial planner of RFP Philippines. To learn more about investment planning, attend the 98th batch of RFP program this August 2022. To register, e-mail info@rfp.ph or text at 0917-6248110. Please watch out for my upcoming e-book which tackles starting your own food business. For financial inquiries and concerns, feel free to message me at my official FB page: Oh My Finance PH.

Credit-card players to users: Gird for high fees, less perks

By Cai U. Ordinario @caiordinario

CREDIT-cardholders may see their perks such as rebates and reward points decline while their fees rise as a result of higher interest rates, according to the Credit Card Association of the Philippines (CCAP).

In an email to BusinessMirror, CCAP e xecutive Director Alex G. Ilagan said lesser perks and higher fees are among the most common ways the credit card industry copes with tight monetary policy.

Ilagan added these ways include the introduction of new fees that were not previously charged such as the cost of making paper copies of

electronic billing statements.

“However, credit card issuers have also been resorting to other means to improve cost efficiency of their operations without affecting cardholders directly like offering online/ electronic card payments and automated chat services in addition to live call center agents which is less expensive to maintain,” Ilagan told

the BusinessMirror.

Ilagan explained that the increase in interest rates is something that is happening globally because Central Banks need to curb the rise in inflation and mop up excess liquidity.

This is discouraging consumers from obtaining loans and encouraging them to save. This, unfortunately, reduces money supply or the money in circulation.

“The unintended consequence may be a reduction in investments and consumer spending which will not only dampen the growth of cashless payments but may also result in an economic downturn or a recession,” Ilagan said.

In his speech at the CCAP event, Bankers Association of the Philippines (BAP) President Antonio C. Moncupa Jr. noted that the credit card industry is resilient, especially with credit expansion and the bad debts caused by the pandemic.

Moncupa said in the face of rising interest rates which are expected to

increase further, the credit card industry is doing its utmost to innovate and move the country closer to a cashless society.

With this, he said the credit card business will remain to be an important “mainstay” in the provision of digital services in the country.

House Committee on Ways and Means Chairman Jose Sarte Salceda said he also expects the Bangko Sentral ng Pilipinas (BSP) to again raise interest rates by 75 basis points (bps) in its Monetary Board meeting this November. (See story: https://businessmirror.com.ph/2022/10/17/ house-panel-seeks-meeting-withmonetary-authorities/.)

In September, the BSP raised interest rates by 50 basis points to 4.25 percent while the interest rates on the overnight deposit and lending facilities were raised to 3.75 percent and 4.75 percent, respectively. (Full story: https://businessmirror. com.ph/2022/09/23/bsp-raisesrates-for-3rd-month-now-4-25/)

Security Bank starts offer of ₧3-B fixed-rate bonds

By VG Cabuag @villygc

Se C URITY Bank Corp. started last Monday its offer period for its fixed-rate peso bond offering with a minimum issue size of P3 billion with an oversubscription option.

The bonds will have a tenor of 1.5 years and will be marketed at a fixed-rate of 5.3 percent per annum. The public offer period will run from October 17 to October 28, 2022.

Minimum denominations have been set for P1 million and increments of P100,000 thereafter.

Security Bank said it will list the bonds on the Philippine Dealing and e x change Corp. on November 10 to provide secondary-market liquidity to investors who would like to trade the instruments.

The said debt will be issued out of its P100-billion peso bond and commercial papers program.

Proceeds will be used to support the bank’s lending activities and

expand its funding base, it said.

Security Bank has mandated Philippine Commercial Capital Inc. as sole book-runner and PCCI and SB Capital Investment Corp. as joint lead arrangers and selling agents for this issuance.

The bank earlier said it selected Amazon Web Services Inc. (AWS) to support its digital transformation and innovation mandate to provide differentiated products, services and experiences for its customers.

The bank has successfully launched the first iteration of a cloud-native, production-grade, enterprise data platform built on AWS. This will set it on a datadriven journey to leverage datarich insights and successfully deliver positive business outcomes. This initiative will also build data fluency across the organization, as well as incorporate innovation best practices to deliver value at scale and speed, the bank said.

Bank of China-Manila links system with Instapay

BANK of China-Manila announced last Monday it has interconnected its systems with InstaPay, an electronic fund transfer service.

The interconnection allows customers to transfer peso-denominated funds instantly between accounts of participating BSP-Supervised Financial Institutions, the lender said.

This also allows the bank’s retail customers to transfer funds from person-to-person via account num-

ber, QR code or multi proxy service, it added.

“With rising demand for digital fund transfers over traditional paper transactions, Bank of China continues to realign its processes to effectively engage and support the growing digital customer base. With InstaPay, Bank of China will be able to provide a safe, reliable, convenient, and zero-wait fund transfer facility,” the bank said.

Bank of China’s customers can access InstaPay via the lender’s

NG rejects bids for T-bills as rates sought still high

THe national government rejected all the bids for Treasury Bills (T-bills) in Monday’s auction, according to the Bureau of the Treasury (BTr).

Initially, the BTr intended to raise P15 billion from the 91-day, 182-day and the 364-day T-bills.

“[These interest rates are] higher than the previous auction as well as secondary market rates. The auction was slightly oversubscribed, attracting P16.3 billion in total tenders,” the BTr stated.

Had the Treasury accepted the tenders, the average interest rates for 91-day bills would hit 4.82 percent, the 182-day securities at 5.226 percent and the 364-day at 5.862 percent.

Based on data from the BTr, tendered bids for the 91-day T-bills P7.6 billion while the BTr received P5.503 tenders for the 182-day T-bills and the 364-day T-bills, the government received P3.2 billion worth of bids.

Last week, the national government fell short of raising its target amount of P15 billion at

the T-bills auction as investors continued to ask for rates at the upper end of the benchmark.

Only P3.965 billion in 91-day and 182-day bills were awarded by the Treasury at the auction while all bids were rejected for the 364-day T-bills.

The lackluster result marked the second consecutive month that the government struggled to borrow its intended amount from the domestic market. However, the National Treasurer said the national government still has sufficient elbow room to reject “unreasonable” bids given its “good” revenue performance.

This month, the Philippine government aims to raise P200 billion from debt papers. The amount covers P60 billion worth of T-bills and P140 billion worth of Treasury bonds to be auctioned off next month.

For the whole year, the government is set to borrow a total of P2.21 trillion, of which 75 percent will be sourced locally while the remaining 25 percent will come from foreign sources.

Cai U. Ordinario

online and mobile difgital platforms. Beneficiaries receive funds in real time.

It also has an enhanced safety feature through its ISO-20022 message format, which makes InstaPay one of the most secure payments services in the Philippines.

Additionally, Bank of China can process fund transfers that enables InstaPay payers and payees to use a mobile number or email address in fund transfers instead of bank account number. This leads

to improved security, enhanced validation, as well as increased adoption and usage of real-time payments.

“As Bank of China moves forward its digital transformation journey, it will continually look for ways to better serve its clients in support of the BSP Digital Payments Transformation Roadmap 2020-2023 that encourages the availability of more innovative and responsive digital financial products and services for clients,” the bank said. VG Cabuag

Pagcor leads giving relief packs to Karding-hit areas

ReeLING from the aftermath of Supertyphoon Karding, residents from 14 affected areas received aid through the relief efforts of the Philippine Amusement and Gaming Corp. (Pagcor) and its licensed casinos, a Pagcor statement read.

In a span of two weeks, Pagcor and the charity foundations of its casino licensees already delivered 17,500 relief packs worth P9 million to the provinces of Aurora, Bataan, Bulacan, Marikina, Nueva ecija, Pampanga, Quezon City, Quezon Province, Tarlac and Zambales.

Pagcor’s Vice President for Community Relations and Services Group Ramon Stephen Villaflor said the state-run gaming agency alone already distributed 3,000 food and non-food items to Dingalan, Aurora; Marikina; and General Tinio and San Isidro in Nueva ecija.

Meanwhile, the most recent donation came from Widus Foundation Inc., (WFI) the charitable arm of Widus Hotel and Casino Clark. The foundation distributed 1,000 packs of food and non-food items to heavily affected residents in San Antonio, Nueva ecija, last October 12 and 1,500 packs to those in Aurora Province last October 14.

WFI Manager Ronnel Golimlim said they worked closely with Pagcor and

LGUs to deliver the goods immediately to the typhoon victims.

Barangay Official Mirna Santos said many houses in the town of San Antonio were wrecked by the strong winds brought by the typhoon.

Another casino licensee that conducted relief efforts operations for Karding victims was the Stotsenberg Leisure Park and Hotel Corp. Its charitable arm Stotsenberg Foundation Inc. donated 2,000 food packs worth P500,000 to affected locals in Victoria, Tarlac and Cabangan, Zambales, the regulator’s statement said.

Also, Royce Hotel and Casino Foundation, the foundation of Royce Hotel and Casino, distributed 1,500 food packs each to Quezon City and Pampanga worth P1.5 million.

Resorts World Philippines Cultural Heritage Foundation Inc., the charitable arm of Travellers International Hotel Group Inc., delivered 3,000 food packs worth P1.5 million to Quezon Province.

In addition, Bridges of Benevolent Initiative Foundation Inc., the charitable arm of Midori Clark Hotel and Casino, donated a sum of 4,000 food packs to Pampanga, Bulacan and Bataan, amounting to P2 million.

personal finance

raymond anthony Quisumbing

UNIVERSITY of Arizona Museum of Art staff examine Woman-Ochre, a painting by Willem de Kooning, which was stolen in 1985. The oil painting is finally back home and ready to be shown. It is the centerpiece of an exhibition ongoing until May 2023 at the University of Arizona Museum of Art. AP

Arizona museum exhibit marks end to de Kooning painting saga

By Terry Tang The Associated Press

PHOENIX—After a Willem de Kooning painting worth millions was brazenly stolen in 1985 from an Arizona museum, the staff clung to the hope that it would turn up one day. But nobody could have predicted Woman-Ochre would find its way back through the kindness of strangers in a neighboring state.

“I would kind of imagine what would that look like,” said Olivia Miller, interim director and exhibitions curator at the University of Arizona Museum of Art in Tucson. “Would it just show up as a mysterious package in the mail or something like that?...I certainly never thought I’d make friends from it.”

The 1955 oil painting by the Dutch-American abstract expressionist is finally back home and ready to be shown. It is the centerpiece of an entire exhibition that opened on October 8 until May at the University of Arizona Museum of Art. The whole ordeal of the theft and its return in 2017 via New Mexico is chronicled in the show. It has spent the past two years at the Getty Museum in Los Angeles for restoration work and display. The painting will be in the same spot it was stolen from—but under a case.

“That’s one of many security layers it [now has],” Miller said.

Almost like something out of a heist movie, the theft unfolded the morning after Thanksgiving. A man and a woman showed up at the museum where only a security guard and students working the front desk were present, according to the curator at the time.

The woman distracted the guard with small-talk while the man went to an upstairs gallery. He cut the painting right out of the frame, police said. The edges of the canvas were still attached. The entire heist lasted 15 minutes. He left with the painting rolled up.

There was no security camera system and no leads.

On the theft’s 30th anniversary in 2015, the museum displayed the empty frame at a news conference in hopes of generating tips.

A break in the case came in August 2017 when David Van Auker, his partner Buck Burns and their friend, Rick Johnson, bought the painting along with other items at an estate sale in Cliff, New Mexico. The trio own Manzanita Ridge, a furniture and antique store 40 miles (64 kilometers) away in Silver City. When they brought it back to the store, three different customers remarked how it looked like a real de Kooning.

His interest piqued, Van Auker did a Google search. That led him to a 2015 article about the theft. They immediately attempted to contact Miller, University of Arizona and even the FBI, he said. But nobody got back to them right away.

Van Auker became terrified about safeguarding what could be the actual painting reportedly worth $100 million. “I sat up all night with three guns and the painting behind a sofa,” he recalled. “I thought somebody would end up coming and killing us for this painting.”

He even left a voicemail for Miller making it clear that he was not interested in any reward or taking advantage of the situation. Miller found the voicemail endearing and is included in the exhibition.

“My favorite part was he says something along the lines of ‘Put this on record. I want you to have the painting back. If it’s yours, the university’s—just come and get the painting,’” she said, chuckling.

Miller and a conservator with the university made the the three-hour drive from Tucson to Silver City the next day. They found there were enough indications to take the painting back for further verification. A conservator deemed it a real de Kooning.

Its return triggered an FBI probe. But the case is now considered closed “following a thorough investigation,” Brooke Brennan, a spokesman for the FBI Phoenix office, said. The estate the painting came from belonged to Jerry and Rita Alter. The artwork had been hanging behind a bedroom door. Relatives

Mexican Rebozo exhibit and presentation

THIS month, the Embassy of Mexico presents Weaving, Deep Time, and the Future, an exhibit and presentation on historical and multicultural linkages between Mexico and the Philippines at Instituto Cervantes’ Casa Azul, Plaza San Luis Complex, Intramuros, Manila.

The Mexican Rebozos, one of Mexico’s finest textiles and garments, and the embassy showcases this as part of the initiative EULAT for Culture: Filipino Design Links with Asia, the Americas, and Europe.

The exhibition aims to showcase and promote Mexico’s weaving culture and textile industry by presenting rebozos handcrafted with diligence by Camelia Ramos, a contemporary artist. The display is ongoing until October 24, 2022 at the Sala of Exposition, Instituto Cervantes’ Casa Azul, Plaza San Luis Complex, Intramuros, Manila.

To formally introduce the Mexican rebozos and their relationship to the voyages of the Acapulco-Manila Galleon Route Trade, the event will

also discovered a photo that showed the couple had been in Tucson on Thanksgiving Day in 1985. Jerry Alter died in 2012 and his wife in 2017. Authorities never publicly called them suspects.

Miller earlier this year met with the couple’s nephew. When the story first came out, he didn’t believe they could have committed such a crime.

“Now that the shock has worn down for him, he now can see that they could have been the ones who stole the painting,” Miller said.

Van Auker sometimes imagines if the painting had fallen into different hands in New Mexico. The thrill of playing a role in its return never fades.

He definitely wouldn’t trade the experiences of the last five years for any money. His store’s business has doubled or tripled at times because people were touched by their actions. He, Burns and Johnson have been hailed as heroes at events in Tucson and the Getty Museum. They’ve stayed friends with Miller and the rest of the museum staff, even hosting them at their guest house back in Silver City.

Not a surprise considering what Van Auker said to Miller when she left with the painting back in 2017.

“I said to Olivia, ‘We’re bound for life now.’ She turned to me and said, ‘Yup I know that.’” n

hold a conference in which experts from the field will impart knowledge to aspiring artists and the public, on mutual influences in textiles on both sides of the Pacific, on October 20 at the Instituto Cervantes in Intramuros.

The discussion will be headed by Dr. Fernando Zialcita, PhD., anthropologist and educator at Ateneo de Manila University; Daniela Gil Sevilla, deputy head of Mission of the Embassy of Mexico in the Philippines; and Camelia Ramos, the artist behind the rebozo exhibit. A short

commentary on trans-Pacific textile exchanges will also be presented by Marian Pastor Roces, an independent curator, critic, textile scholar, and founder of TAO Inc.

Entrance to the exhibition is free and on a first-come, first-served basis. Registrants can visit www.eventbrite. com/e/432430791137

More information is available at the the official social media accounts of the Mexican Embassy: @EmbaMexFil on Twitter and @embamex.filipinas on Facebook.

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Zack Efron, 34; Ne-Yo, 42; Jean-Claude Van Damme, 64; Barry Keoghan, 29.

HAPPY BIRTHDAY: Memories will point you in a unique direction. Reach out to someone who has influenced you in the past, and you’ll get an inkling of where you want to go and what you want to pursue. It’s time to follow your heart and be responsible for your happiness. Map out a course that offers peace of mind and happiness. Your numbers are 6, 14, 17, 24, 29, 32,

ARIES (March 21-April 19): Pay attention to detail regarding shared expenses and responsibilities. Be open and honest about the way you feel, and it will help you avoid a misunderstanding. HHH

TAURUS (April 20-May 20): Put an emphasis on looking your best, staying healthy and fit, and spending time with someone who brings out the best in you. Explore possibilities, and consider making a positive lifestyle adjustment. HHHH

GEMINI (May 21-June 20): Focus on what you can do. Research, preparation and promotion are essential if you want to get ahead. Leave nothing to chance or in someone else’s hands. Once you take care of business, relax with someone or something that eases your stress. HH

CANCER (June 21-July 22): Mingle, enjoy life and indulge in pastimes that pique your imagination and bring you in contact with interesting people. Take a pass on joint ventures or costly investments. HHHHH

LEO (July 23-Aug. 22): Let things unfold naturally. You cannot change the inevitable, but keep a positive mindset, and focus on personal growth and acquiring information that will help you get ahead. The lessons learned will be valuable, and success will follow. HHH

VIRGO (Aug. 23-Sept. 22): Changing your beliefs and lifestyle will stabilize your life and get you moving in a direction that excites you. A new look or an adjustment to your living arrangements will be promising. HHH

LIBRA (Sept. 23-Oct. 22): Attend events that encourage networking and connecting to people who share your interests. Learn from your mistakes, and you’ll avoid a repeat performance. Don’t waste time or money on nonessentials or someone looking for a handout. HHH

SCORPIO (Oct. 23-Nov. 21): Maintain a simple lifestyle, and refuse to get involved in the drama that goes on around you. Stop wasting time and start making a point to use your strengths and wisdom to do what you do best and love most. HHHHH

SAGITTARIUS (Nov. 22-Dec. 21): Guard personal information. Sharing too much with others will end up costing you. Take care of your responsibilities before you move on to recreational activities. HH

CAPRICORN (Dec. 22-Jan. 19): Tidy up unfinished business. The freedom to follow your heart and do what makes you happy is priceless. Self-improvement and romance are favored and will encourage you to have the confidence to take a bold move. HHHH

AQUARIUS (Jan. 20-Feb. 18): Listen carefully, plan precisely and leave nothing to chance. Take on essential tasks, and handle matters personally to avoid setbacks and opposition. Don’t be afraid to do things by yourself if it makes sense. Ideally, you want to accomplish your goal. HHH

PISCES (Feb. 19-March 20): Pay attention to detail and budget. If you have your finger on the pulse, you’ll know what’s required of you to get what you want. Change begins with you and how determined you are to finish what you start. HHH

BIRTHDAY BABY: You are intuitive, creative and appealing. You are charitable and independent.

H: Avoid conflicts; work behind the scenes. HH: You can accomplish, but don’t rely on others. HHH: Focus and you’ll reach your goals. HHHH: Aim high; start new projects. HHHHH: Nothing can stop you; go for gold.

‘comings and goings’ BY JON PENNINGTON

The Universal Crossword/Edited by David Steinberg

Solution

Bringing global Pinoys together beyond television

THE flagship international channel of media giant GMA Network, GMA Pinoy TV remains true to its promise of bringing Filipinos all over the world “stronger together” through engaging and innovative content beyond its on-air platforms.

Just last month, the Filipino community in the US was thrilled with GMA Pinoy TV’s highly successful return via Together Again: A GMA Pinoy TV at 17 concert. The channel’s biggest 17th anniversary treat starring Bea Alonzo, AiAi de las Alas, Lani Misalucha, Julie Anne San Jose, Rayver Cruz, and Dingdong Dantes was soldout for its two-night show.

From holding live shows, GMA Pinoy TV continues to think of many different ways to creatively make Filipinos abroad informed on the latest important updates as well as entertained through various activities with the network’s stars.

The international channel recently launched a new digital show and a new season of its wellreceived podcast.

The new digital mini-talk show Break Seven gives Pinoys all over the world a glimpse of the personal life of some of the brightest GMA personalities. With guests such as Alden Richards, Andrea Torres, Ruru Madrid and Atom Araullo, each episode allows netizens to eavesdrop as they share their pet peeves and desires, guilty pleasures, and the first thing they do in the morning. Catch it on GMA Pinoy TV’s Facebook, YouTube, TikTok, Twitter, and Instagram pages.

It also delved into the podcasting scene via Stronger Together: The GMA Pinoy TV Podcast, which is now on its second season. The podcast features conversations with the network’s personalities, global celebrities, and Filipinos around the world who remain strong and resilient amid the challenges of life.

Listen to the stories of Season 2 guests Eric Bauza, Bobby Rubio, Xian Lim, Glaiza de Castro, Kylie Padilla, Andrea Torres, Stefanie Arianne, DJ Javier, Rich Asuncion, Garrett Bolden, Princess Punzalan, and more. The podcast is available on Spotify, Apple Podcasts, Google Podcasts, and GMA Pinoy TV’s Facebook page.

Meanwhile, Global Pinoy Unlimited, a short-form content that focuses on Filipinos with significant contributions to the community, was even recognized at the 2021 Commission on Filipino Overseas (CFO) Migration Advocacy and Media (MAM) Awards for the Television Journalism Award—Best Interstitial.

Similarly, EntrePinoy Abroad, which highlights the stories of Filipinos abroad who boldly put up their own businesses in a foreign land and continued to persevere and promote Filipino products to the world, was also named Best TV Special in the said award-giving body.

Notably, the international channel earned praise at the 12th Annual The Outstanding Filipinos in America (TOFA) Awards and was given the inaugural Global Award for successfully fostering cultural pride and gratitude for the modern-day heroes who perpetuate the greatness of the Filipino race through its programs and various initiatives.

As GMA Pinoy TV continues the celebration of its 17th anniversary, viewers abroad can surely expect more treats coming their way. More information is available at www.gmapinoytv.com.

Barbie Forteza: From doll ish to del ightful ly divi ne

THERE is no doubt that Barbie Forteza is the brightest TV star of this season.

She is the main reason why a new GMA series is lording it over the rest of the local TV shows on the evening primetime block. Forteza plays the lead female character in the series Maria Clara at Ibarra, described as a historical portal fantasy series. Gratitude is a trait innate in Forteza.

“I was extremely happy when I first learned that the network was going to entrust me this amazing role. When the good news started to sink in, the realization that the big role comes with a huge responsibility dawned on me—but instead of being scared, I was motivated to prepare and be ready for the monumental task ahead. I also did research on my own and I am so lucky that the creative group of GMA got my back every step of the way. I am simply thankful for this milestone in my career.”

Forteza’s career has now spanned 15 years. It started when the doll-like child actress played the young Roxanne Guinoo in an episode of the horror flick Shake, Rattle & Roll (ninth installment), which incidentally had Dennis Trillo—Forteza’s leading man in the ongoing Maria Clara series—playing the leading man of Guinoo.

Over the years, Forteza had been cast in mostly romance, comedy or horror flicks, where her star shone as she took on one role after another. She eventually caught our attention in the Milo Sogueco Cinemalaya film Mariquina, where Forteza delivered one seamless and powerful performance as the teenage version of the lead character Imelda, played by Mylene Dizon. Up to this day, many still think that Dizon, a replacement of the original actress Judy Ann Santos, was miscast as the older version of Forteza. It was in this movie that the then 17-year-old Forteza bagged her first major acting plum, the festival’s best supporting actress award.

Many would compare her with Maricel Soriano when Soriano was Forteza’s age, reckoning that both actors had the spunk, humor, depth and charisma in their choice of roles and projects. “That is very flattering and humbling at the same time. [Maricel] is way up there, an icon. I am still learning the ropes, a few good career choices do not make me a great actor.

I still have a long way to go,” she said, in an almost

REPERTORY Philippines (REP) is taking on the challenge of presenting Carousel, the best musical of the 20th century, to present-day theater crowd as it opens on November 26, 2022 at the Tanghalang Ignacio Gimenez within the Cultural Center of the Philippines (CCP) complex.

With a radical vision by first-time REP director Toff de Venecia, this reimagination of the beloved Broadway musical underscores the transcendent power of hope and love.

Created by the legendary team of Richard Rodgers (Music) and Oscar Hammerstein II (Book and Lyrics) that together redefined musical theater and ushered Broadway’s golden age, Carousel collected accolades from critics and praise from audiences after its original opening in 1945. This production won the New York Drama Critics’ Circle Award for Best Musical, and was ultimately hailed by Time Magazine as the greatest musical of the 20th century. Its subsequent revivals also won Tony, Olivier, and Drama Desk Awards, a testament to this classic’s timeless and universal appeal.

Carousel follows the story of Billy Bigelow, a swaggering and carefree carnival barker who falls in love with and marries Julie Jordan, a sweet yet naïve millworker. After learning Julie is pregnant, a desperate Billy is forced to participate in a robbery that ends in a tragedy.

He is then given a second chance to make things right. A moving tale of redemption, Carousel features some of musical theater classics like “If I Loved You,” “June is Bustin’ Out All Over” and “You’ll Never Walk Alone.”

REP’s comeback production will be led by soughtafter theater leading man Gian Magdangal, and powerful multihyphenate Karylle Tatlonghari who are both joining a REP production for the first time.

Joining the two leads are REP stalwarts Loy Martinez and Mikkie Bradshaw-Volante.

“It is with great pride that Repertory Philippines

whispering tone.

actor, when she was hailed as Best Actress at the Fantasporto International Film Festival in Portugal for the movie has been with GMA since 2009, when she was cast in the local TV adaptation of the Korean hit series Stairway to Heaven care of me and my career all these years. I feel very secure with GMA. The people who run the network saw my potential early on, they invested in me and gave me breakthrough roles. I literally grew up with the network and I knew no other family outside home. The network allows me to explore the outside world

into the actor that I want to become, and for that alone A-lister among GMA artists. She has certainly evolved

is making its return to live theater with a production that is both renowned and beloved. We are all thrilled with how Toff has executed his bold, brave vision of Carousel says Mindy Perez Rubio, REP president and CEO.

“Together with a superb cast, including our wonderful female lead Karylle, whom we are also working with for the first time, I think be a fitting and triumphant return to the stage for Repertory Philippines.”

2020 theatrical season with the same director at the helm, but like all theater productions worldwide, Carousel

For De Venecia, the pause was a welcome opportunity for introspection that has further helped with the eminent theater company’s transition to more progressive, dynamic, and culturally relevant narratives, with the guidance of Artistic Director Liesl Batucan-Del Rosario.

“I am in a liminal state—navigating the romanticism of the best musical of the 20th century and the landmines in the text, reading it from a

new ways forward in this post-modern contemporary elaborates. “It’s an alchemy of limitations that gives rise to contemporary possibilities.”

Catch Carousel starting November 26 until December 18 at the CCP Tanghalang Ignacio Gimenez. More information is available at www. repertoryphilippines.ph.

FROM left: Miles dela Cruz, TOFA; Joseph T. Francia, GMA Pinoy TV; and Vicente Gesmundo, TOFA.

‘Carousel’ gets radical post-modern contemporary spin

OMF partners with more groups to expand One For Trees program

ONE Meralco Foundation (OMF) has teamed up with more organizations to further its sustainable reforestation program aimed at contributing to environment preservation and improvement of the lives of more Philippine communities.

The social development arm of Meralco signed a Memorandum of Agreement with Butuan City Water District (BCWD), Fostering Education and Environmental Development (FEED), and Participatory Research Organization of Communities and Education towards Struggle for SelfReliance of Bohol (PROCESS Bohol) for the One For Trees (OFT) program.

Under the OFT program, OMF provides funding for reforestation activities such as establishment of nurseries, planting of seedlings during the appropriate season, and continued monitoring of the trees planted. OMF plans to nurture and protect at least five million trees by 2025, while providing sustainable livelihood to communities around conservation sites.

The new partnerships will expand the reach of the program to the provinces of Agusan del Norte; Laguna; and parts of Bohol. The new OFT partners have identified specific targets to help their respective communities.

For BCWD, from the province of Agusan del Norte will plant 48,000 trees in the Taguibo Watershed to sustain the forest reserve in the watershed enabling quality water supply for the people of Butuan City.

FEED, on the other hand, targets to plant 100,000 trees in the LagunaQuezon Land Grant site in Siniloan, Laguna which is planned to be developed as a major biodiversity hub in the Sierra Madre mountain range.

Meanwhile, PROCESS Bohol will

rehabilitate upland and coastal forest patches damaged by the rampage of Typhoon Odette in Anda, Pilar, Ubay, Candijay, Mabini, and Carlos P. Garcia in Bohol. Through OFT, PROCESS Bohol plans to nurture 100,000 trees of which 50,000 are mangroves.

For OMF, with the help of these organizations, OFT can deliver a sustainable solution to the environmental and economic needs of the marginal communities.

The OFT is a long-term commitment to the environment and to the people, which is anchored on sustaining partnerships with Civil Society Organizations, Local Government Units and communities – a pledge to collectively work for climate action.

“Some may see our efforts as a mere tree-planting, tree-growing, or treenurturing with a very high survival rate target. Yes, we require those. But more importantly, One For Trees also invests at building the capacities and improving the

economic welfare and social well-being of the people who maintain these trees and ensures that the same trees will also benefit their own families and communities.” said Meralco Chief CSR Officer and OMF President Jeffrey O. Tarayao.

“Most of the work we will put into the vision of One For Trees requires waiting for so long, that only our children’s children will reap the fruit of these labors. May we all be patient and sometimes, impatient, so that the One For Trees program will flourish long after we have planted the seeds of our work,” added Tarayao.

The recent signing forms part of the OFT kick-off activities for this year, which also includes community tree-planting and learning visit in the Green Earth Heritage Farm OFT site located in San Miguel, Bulacan. These activities aimed at improving reforestation practices by learning from the partners’ experiences and getting more support from other stakeholders for the initiative.

and experience new offerings

its 27th year

walk-through attraction divided into two buildings: the prison and the laboratory.

Alcatraz Haunted Prison is located beside Rio Grande Rapids at Portabello Zone with an admission fee of P270 (per guest).

EK’s Anniversary Treats TO kickstart the Anniversary celebration, Enchanted Kingdom announced exciting gifts available for limited time only.

The Rekindle the Magic 27th Anniversary promo offers Regular Day Pass at a discounted price of P827, available only at EK’s online store while walk-in guests can avail the Excitn927 promo that offers a Regular Day Pass ticket for only P927.

The Philippines’ first and only world-class theme park prepares for a grand celebration we deserve after two years of lockdown and missed connections. One thing the global pandemic has made us realize is that meaningful celebrations rarely come. When the day has passed, and everyone has left, we are only left with the memories it gave us. This year, EK is ready to make us feel the magic all over again.

EK’s 27th Anniversary

EK held an anniversary concert on October 15 with Bamboo, along with special performances by Victoria’s Way, The Kingsmen, and SMS. In collaboration with One Platinum Fireworks, EK will paid a special tribute to Ricardo Sta. Ana Sr., One Platinum Fireworks’ late Director for Operations, and the late Maria Victoria Faustino, former Head of EK’s Creative Division. Both made immense contributions to the creative and artistic process of the world-class theme park.

New girl group SMS launched EK started its anniversary celebration early with P-Pop Day at EK, a pre-anniversary concert, last October 9. This also marked the official debut of EK’s new all-girl P-Pop group, SMS (Sun, Moon, Stars). The group consists of five members: Alyanna, Zyrene, Joy, Nina, Selena. They performed together with up-

Escape the Laser Maze at Laser Mission 2.0

Enchanted Kingdom’s crowd-favorite laser maze returns with a better and bigger adventure. Laser Mission 2.0 will welcome its brave challengers again on October 15. This updated attraction will offer two different laser experiences: Laser Maze Challenge and Beam Buster.

In Laser Maze Challenge, players have to avoid laser beams as fast as possible to get through the finish line. For energetic contenders, Beam Buster is a chance for them to let loose. Players must break as many laser beams as they can muster in a short period of time to win.

Guests may opt for single or double play to enjoy the attraction in their preferred style. Laser Mission 2.0 is located inside the Building 25 at Spaceport zone with an admission fee of P100.

Alcatraz produced by Recreation Concepts, Inc.

AS a Halloween surprise, EK’s newest haunt attraction, Alcatraz, is opening its doors to the public on October 15.

Be transported to the chilling cell blocks of the maximum-security prison and come face-to-face with rioting inmates and deranged criminals that this vicious nightmare holds. To make the experience close to reality, guests will have their mugshot taken first right after they enter. It is a long

The 27th Anniversary Meal Deal includes a package of four Regular Day Pass and four EK meals worth P4,027 only.

To celebrate World Teachers’ Day this month, EK offers a Buy 1 Get 1 Regular Day Pass promo for only P1,000 available to all teachers.

The Magical Shuttle to EK promo continues as part of our anniversary celebration offerings. It includes a Regular Day Pass and a roundtrip shuttle service for only P1,200.

For more details, visit Enchanted Kingdom’s Facebook page or official website, www.enchantedkingdom.ph.

Get a Closet Upgrade with EK’s New Merchandise Items

ENCHANTED Kingdom releases new merchandise items perfect for a closet upgrade. Look forward to more t-shirt designs, oversized tees, tie dye bucket hats, and Eldar’s cape hood on the shelves of all EK merchandise store and EK online store. Find new ways to show off the beauty of EK experience.

For more information on promos and ticket reservations and bookings, please visit Enchanted Kingdom’s official website  www.enchantedkingdom.ph, Online store https://shop.enchantedkingdom. ph/  or official Facebook page www.facebook. com/enchantedkingdom.ph.

Park Inn by Radisson Bacolod to mark 1st Masskara celebration after 2 years with special food, drink offers

PARK Inn by Radisson Bacolod celebrates the comeback of the Masskara Festival by offering elevated Negrosanon dishes for tourists to enjoy and locals to rediscover.

Festivities aren’t complete without a feast. Arima, in particular, has prepared classic heirloom dishes crafted to reflect the breadth of Negrosanon cuisine, starting with Ensaladang Talong – roasted eggplant salad with calamansi infused dressing plated heavenly with a tower of crispy fish.

Arima offers two specialty mains, starting with the iconic Bacolod Inasal interpreted with marinated boneless chicken, slow-grilled with annatto oil and garnished with fried onion fritters; and Habichuelas, a Filipino dish of Spanish origins, which consists of pork braised with white beans, tomatoes, and pumpkin.

For desserts, guests may choose between two selections. The Halo – Halo Turon – is a perfect union of two well-loved Filipino sweets. It comprises of pastry rolls filled with sweetened banana and beans, served with ube ice cream and other halo-halo staple ingredients, capped with a drizzle of chocolate syrup.

If cakes are preferred for dessert, try the Sweet Potato Cake. The dessert comprises of layers of vanilla and ube sponge cake, with sweet potato butter and purple yam buttercream, mixed berry coulis, Kamote chip, and garnished with sweet potato compote and burnt meringue.

Celebrations are always partnered with drinks. Marapara Pool Bar and the Lobby

Lounge at Park Inn by Radisson Bacolod have produced two locally inspired cocktails worth a shot. Lumay, or enchanting potion in the local dialect, is a deconstructed drink consisting of dark rum, muscovado syrup, dehydrated citrus, and calamansi sour mix served with a side of peanuts. Yuhom, or smile in the local dialect, will surely give glee to any guest due to its glittery look made with white and dark rum, fresh pineapple and orange juice, muscovado syrup with a dash of blue curacao topped with dehydrated fruits. Marapara pool bar live entertainment continues every Friday and Saturday from 6:00 pm to 10:00 pm.

For grabbable items, Dash, the hotel’s 24-hour grab n’ go counter, will also offer artisanal Filipino pastries and bread such as pan de coco, pan Bisaya with coconut, corned beef pandesal, coffee bun with coffee streusel, Spanish rolls, blue ternate sourdough, muscovado cookies, and calamansi crinkles. These items are also perfect for pasalubong.

Panahon TV celebrates its 10th year with hybrid event In Quezon City, lauds partnership with DOST, PAGASA

THE event was hosted by PANAHONTV reporters Pia Mercado and Francis Orcio. Donna May Lina, UBE Media President and PANAHONTV Executive Producer, gave her welcome remarks. “Committed po tayo na gumising ng napakaaga kasama ng mga taga-PAGASA na maghatid po ng serbisyo sa pagbibigay ng balita, ng weather, climate change, volcanic eruptions, and Disaster Risk Reduction.”

PANAHONTV’s anniversary also got a video message from Dr. Vicente Malano, PAGASA Administrator. “Nawa’y marami pa tayong matutulungan ng ating weather information and services,” he said. According to Dr. Esperanza Cayanan, PAGASA Deputy Administrator for Research and Development, “Natutuwa ako sa PANAHONTV, kasi you are part of the family and for ten years magkakasama tayo.”

“It is particularly tricky when you are communicating science news and information, it takes special skills such as perseverance, and a genuine desire to seek the truth in order to provide quality service to the people. Among our partners in this endeavour is PANAHONTV. I commend PANAHONTV, the people behind the program, UBE Media,

The Lina Group of Companies, and AIR21 for creating and taking care of this unique and very informative program,” said Department of Science and Technology Secretary Renato Solidum in his video message to PANAHONTV.

Dr. Garrie David, President of UBE Express, also announced the launch of the Rapid Radio Support Vehicle.

In recognizing the people behind PANAHONTV’s success, Lina awarded a Certificate of Appreciation to the program’s loyal employees, government and media partners, and other affiliates.

The event concluded with closing remarks from the Lina Group of Companies Chairman, Alberto D. Lina and his wife, Sylvia. Congratulations sa lahat ng kasama ni Donna sa PANAHONTV lalo na sa mga sumusuporta. Sa lahat ng media partners ng PANAHONTV na patuloy ang pagsuporta,” Mrs. Lina said.

Mr. Bert Lina exclaimed, “Ako ay nagagalak sa ating mga kasama rito, yung Lina Group of Companies that supported PANAHONTV in the last ten years.” Happy 10th Anniversary, PANAHONTV. Always remember that here at PANAHONTV, “Walang pinipiling panahon ang pagbibigay impormasyon.”

THIS October, Enchanted Kingdom celebrates its 27th Anniversary with the slogan “Rekindle the Magic.”

and-coming P-Pop groups of the country: BGYO, Alamat, 1st.One, and Dione.

FROM left to right, FEED Director for Partnerships Anne Marie Bakker, BCWD General Manager Anselmo Sang Tian, OMF President Jeffrey O. Tarayao, and PROCESS Bohol Executive Director Aurelio Salgados Jr. during the Memorandum of Agreement signing.

ARIMA’S Boneless Chicken Inasal

WITH the theme “Handa sa Kinabukasan,” PANAHONTV, a multiplatform program produced by UBE Media Inc. in collaboration with the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA) Weather and Flood Forecasting Center, which regularly airs on Cignal TV-One PH every Monday to Friday from 5 a.m. to 6 a.m., and on Life TV every 6:30 a.m. to 7:30 a.m. celebrated its 10th anniversary last September 10, 2022 at the Ang Bahay ng Alumni, University of the Philippines in Diliman, Quezon City, and aired live via Facebook.

LOWER POWER RATES FOR MERALCO CUSTOMERS THIS OCTOBER. The Manila Electric Company (Meralco) announced a PhP 0.0737 per kilowatt hour (kWh) decrease in power rates this October. This downward adjustment equates to P15 in total savings for a typical household consuming 200 kWh a month. Meralco Vice President and Head of Corporate Communications Joe R. Zaldarriaga explained that the overall rate reduction was pulled down by a PhP 0.0619 per kWh reduction in the Feed-in-Tariff Allowance (FIT-All) and lower generation charges due to lower costs from Meralco’s supply contracts. For more information, customers may visit Meralco’s website at www.meralco.com.ph or its social media accounts on Twitter (@meralco) and Facebook (

).

‘Rekindle the

Ukrainians’ resilience persists despite new Russian barrage

By Sabra Ayres & Justin Spike The Associated Press

KYIV, Ukraine—When massive, coordinated Russian bombardments shook cities and towns across Ukraine a week ago to trigger a new phase in the Kremlin’s war, one strike left a huge crater in a popular Kyiv children’s playground and ripped open a central intersection.

The next day, traffic flowed over the newly asphalted road, and life in the capital had returned to near normal. The response to Russia’s new wave of attacks was to get back to work, stroll in the warm autumn sun and tend to final harvests from summer vegetable gardens.

A similar scene played out in the central Ukrainian city of Dnipro that day, where city workers repaired a road overnight after it was destroyed by shelling in that coordinated attack.

“We worked all night, gritting our teeth,” wrote Dnipro Mayor Borys Filatov on Facebook the day after the Oct. 10 attack. The post included before and after photos of where the strike had hit and the completed repairs.

“We will restore and rebuild everything. But our hatred will live for centuries,” he said.

Ukrainians’ resilience in the nearly 8-month-old war continues to be unwavering, despite an uptick in attacks that are seen as Russian President Vladimir Putin’s vengeful response to an explosion that damaged a Moscowbuilt bridge to the Kremlin-annexed Crimean Peninsula on October 8.

Russian missiles and Iranian-made drones struck at least 10 regions across the country two days later, targeting critical infrastructure such as power plants and waterworks in major urban centers. The barrage left 19 dead and more than 100 wounded in the most extensive attacks since the early days after the Russian invasion began on February 24.

On Monday, explosives-laden suicide drones once again struck Kyiv, sending residents running for cover.

It is an intensified version of what has been a shift in Russian tactics aimed at making life more difficult for Ukrainians, particularly for those far from the front lines.

But the more the Kremlin threatens to make the upcoming winter intolerable, the more Ukrainians seem to unite in their intent to defeat Putin.

The Ukrainian government is urging a national reduction of energy consumption and, in some regions, implementing rolling blackouts as repairs are done to damaged power stations and facilities.

Ukrenergo, the state energy company, reported that on October 15, residents of the Kyiv region had reduced their daily average electricity consumption by 7 percent, allowing the utility to avoid forced blackouts.

“This is a direct result of the fact that Ukrainians deliberately limited the use of electrical appliances in the evening hours,” the company said in a Facebook post Sunday.

Danylo, 20, a student in Kyiv, said he has reduced his electricity use at home “because we understand that this is a way to protect ourselves from complete loss.”

Danylo, who declined to give his last name, added: “Now, it is a trend to work for a common victory,” he said.

Similar resilience also can be seen emerging from the devastation and ruins along the front lines in eastern and southern Ukraine.

After retreating from eastern regions like Kharkiv, Russia has focused its strikes on Zaporizhzhia, Mykolaiv and surrounding towns nearly every night as a Ukrainian counteroffensive makes steady gains in the partially occupied southern flank.

Of all the Ukrainian areas that have paid a high price in the war, the Saltivka neighborhood on the northeastern edge of Kharkiv, the country’s second-largest city, has borne some of the greatest burdens.

The area’s residential blocks were once home to about a third of Kharkiv’s 1.4 million residents. But as Russian forces launched the invasion, they swept in to reach the neighborhood’s edge and pummeled it with rockets and artillery. Dozens were killed.

Saltivka, especially its northern reaches, was pounded for months until scarcely a building remained without major damage, leaving vast swaths of the area virtually uninhabitable. Tens of thousands were forced to flee.

Those who remained wander now like ghosts among the charred skeletons of what was once one of Ukraine’s largest residential areas. Despite what they’ve lost, many say they are unwilling to compromise with Russia to stop the fighting.

“Without victory, there is no Ukraine,” said Hryhorii Ivanovich, 67, as he applied rebuilt a brick wall on his balcony that was destroyed by a Russian rocket, along with the front half of his living room. “There is no compromise, only Ukrainian victory.”

Maintaining such resolve, however, is more difficult for those who have lost a loved one in the war.

Lyubov Mamedova, whose son was killed this month by a Russian land mine, said he had enthusiastically signed up to fight at the beginning of the war, certain that Ukraine would defeat the invaders.

Mamedova, between fits of tears, said Ukraine must continue to protect its freedom, something she said was important to her son.

“We will fight,” she said. “He always said, ‘Victory is ours.’”

While many Ukrainians remain steadfast in their determination to drive Russia out by military means, some believe a political solution must be sought to end the bloodshed.

Oleh Postavnychyi, 39, was filling water bottles from a public faucet in a courtyard near his home in Saltivka, where he’s remained since the war began despite his apartment being significantly damaged.

A diplomatic solution needed to be reached to halt the violence, Postavnychyi said, but not one that cedes any Ukrainian lands.

“We need to find some compromise because neither (the Russians) nor us need this war,” he said. “Normal people shouldn’t suffer…but we can’t give them our territories. These are our territories. They were conquered not only by our great-grandfathers but our great-great-grandfathers.”

Spike reported from Kharkiv, Ukraine.

Xi Jinping gives no reassurance China’s economic risks to ease

CHINESE President Xi Jinping signaled no change in direction for two main risk factors dragging down China’s economy— strict Covid rules and housing market policies—providing little lift to a worsening growth outlook.

Xi praised Covid Zero, his notolerance approach to containing infections, during a speech open ing the 20th Communist Party congress in Beijing on Sunday, although he didn’t reference the virus again in sections laying out plans for the future. His slogans on China’s property market, meanwhile, repeated prior lan guage even as the sector experi ences its longest-ever slump due to policies aimed at curbing debt and financial risks.

Those two factors have been a major drag on the world’s secondlargest economy, with economists surveyed by Bloomberg predicting growth of just 3.3 percent this year, the second-weakest pace in more than four decades. Thirdquarter gross domestic product data, due to be released on Tuesday, will likely show a muted recovery from almost stagnant growth in the second quarter.

Xi’s report “is by no means a sharp turn from the previous policy stance,” wrote economists including Larry Hu, head of China economics at Macquarie Group Ltd., in a Sunday report. “The party congress is about long-term target and strategy, not about short-term policy adjustment.”

Traders have focused on other parts of Xi’s speech, seeing his comments about technology as an indication there may be support for the sector, which has come under assault from the US. Shen Meng, a director at investment bank Chanson & Co. in Beijing, said in the short term, the lack of direction on Covid Zero will drag on market sentiment.

Chinese stocks in Hong Kong and on the mainland fell in early trading Monday, though their losses trailed the broader decline

in Asian equities. The onshore benchmark CSI 300 Index and the Hang Seng Index were both down 0.5 percent as of 9:41 a.m. in Shanghai, while the MSCI Asia Pacific Index dropped 1 percent.

Healthcare and information technology shares gained, despite overall weakness in the mainland stock market.

The government’s aggressive policy of restricting movement whenever virus cases emerge has led to surging unemployment among young jobseekers and a slump in business and consumer confidence. Housing sales have fallen as homebuyers grow in creasingly reluctant to borrow and property developers fail to deliver projects as scheduled.

“The clearest takeaway from Xi Jinping’s party congress speech is that growth remains a top economic priority. But he also used new lan guage to describe ‘common prosper ity’ that points to a continued tight regulatory stance and potentially major tax changes to spread wealth more evenly,” said Bloomberg econ omists Chang Shu and David Qu.

Few economists expect a sig nificant rebound or a relaxation of Beijing’s stance that the sector needs to be regulated more tightly. That’s despite the government try ing to stabilize the housing market by telling banks to lend more to property developers and encour aging local governments to reduce restrictions on housing purchases.

The text of Xi’s speech suggests that “the target of preventing excessively rapid gains in hous ing prices has been completed for now,” said Bruce Pang, chief econ omist at Jones Lang Lasalle Inc.

Policy clues

WHILE the speech lacked notable

Tax the rich for more EVs?

By Kathleen Ronayne The Associated Press

SACRAMENTO, California—A

California ballot measure that would tax the rich to help put more electric cars on the road may seem tailor-made to win support from Democrats in a state known for climate leadership, but Proposi tion 30 has one notable opponent: Gov. Gavin Newsom. That’s put the Democratic governor on the oppo site side of his own party and against his traditional environmental allies.

The proposition before voters would add a 1.75 percent tax on personal income of more than $2 million, or fewer than 43,000 people. State analysts estimate it would raise up to $5 billion a year, mostly to help people buy electric vehicles and to build charging sta tions, with some also dedicated to resources for fighting wildfires.

Environmental and health group backers say California needs dedi cated funding to speed the transi tion away from gas-powered cars and help lower planet-warming emissions. Transportation accounts for 40 percent of California’s green

house gas emissions, and increas ingly deadly wildfires are another major source of carbon.

“We can’t meet our climate goals without something like this,” said Mary Creasman, chief executive of ficer for California Environmental Voters. “It’s either going to be all of us who pays, or it’s going to be the wealthiest who can afford to pay.”

Newsom has branded Proposi tion 30 as a money grab by ride sharing giant Lyft, which has spent at least $45 million backing it. State regulators have mandated that all rideshare trips be zeroemission by 2030. Uber has not taken a position on the measure.

“Don’t be fooled, Prop. 30’s be ing advertised as a climate initia tive, but in reality it was devised by a single corporation to funnel state income taxes to benefit their com pany,” Newsom says in one TV ad.

Supporters reject that charac terization, saying that Lyft got involved after environmental groups were already discussing a ballot measure. Creasman said it was important to “call our own team and governor out for lying” about the origins of the measure.

new details on those topics, Xi still asserted that economic de velopment remains the Commu nist Party’s “top priority,” a sign the government will continue to prioritize GDP growth. Some an alysts didn’t think Xi would stick to that slogan, and instead give stronger importance to national security. Xi mentioned twice the need to balance security and de velopment in his speech.

“It’s important that he reiter ated that development is the first priority,” said Ding Shuang, chief economist for Greater China and North Asia at Standard Charted Plc. “It emphasizes the importance of development, as people are hav ing some doubt about that.”

Xi also said the country aims to have a GDP per capita on the level of a medium-developed country by 2035, words that have been used in China to refer to coun tries such as the Czech Republic and Slovakia.

There were no direct references to new policies, nor did Xi explic itly address pressing economic is sues such as the ongoing strain on local government finances.

Economists instead were left to parse Xi’s speech for clues: A call to “regulate” income distribution and wealth accumulation, for ex ample, “may trigger speculation over an upcoming inheritance tax,” Ding said.

Long-term growth

XI offered an optimistic vision of China’s long-term growth, which he said would be fueled by a more skilled workforce, technological

innovation and market reforms aimed at boosting productivity.

The speech signals a new phase of development “with more focus on productivity growth instead of capital expansion,” said Peiq ian Liu, chief China economist at NatWest Group Plc.

The Chinese leader emphasized the need to build the country into a high-tech manufacturing pow erhouse. He also stressed a need for “self-reliance” in tech, phras ing that has taken on added im portance as the US ramps up its efforts to curb China’s ambitions in that field.

“The way that development and technology came so high up in the report also is assuring to me,” said Chen Shi, a fund manager at Shanghai Jade Stone Investment Management Co. “This party is not just about ideology, as some were beginning to fear, but de velopment and economic stability stayed high on the list.”

China’s GDP growth this year will likely be much weaker than the official goal of around 5.5 percent, making it the biggest miss since the government began setting GDP targets in the early 1990s. Beijing has downplayed the importance of this year’s tar get, vowing instead to achieve the “best outcome” possible.

“This year’s growth target has been effectively abandoned,” said Wu Xianfeng, a fund manager at Shenzhen Longteng Assets Man agement Co., adding that next year’s target could be around 5 percent. With assistance from Yujing Liu, Qizi Sun and Shikhar Balwani/Bloomberg

California Democrats split

In an election year where New som is expected to cruise to reelec tion for a second term, the fight over Proposition 30 has become perhaps the most contentious of the season for Democrats. It comes months after state air regulators approved a Newsom-backed plan to ban the sale of most new gaspowered cars in the state by 2035.

Newsom notes that he has already dedicated $10 billion to various programs aimed at boosting EV adoption over the next six years.

Half the money raised in Propo sition 30 for electric vehicles would go into an equity account designed to expand transportation options and limit air pollution in low-in come or disadvantaged neighbor hoods. It could be used to help people buy electric cars or to put cleaner delivery trucks, buses and even e-bikes on the roads.

Wildfires, too, have become an increasingly urgent problem as cli mate change makes the state hot ter and drier. Most of the state’s deadliest and most destructive wildfires have occurred in the last few years, and the state esti mates wildfires released more than

85 million metric tons of carbon emissions in 2021—more than the annual emissions from electricity.

Lyft says it supports the mea sure because reducing emissions is good climate policy.

“Proposition 30 funds this through a tax on individuals who earn more than $2 million a year. I’m fortunate enough to be im pacted by this tax and happy to pay it to help turn back the clock on this existential threat,” Logan Green, the company’s chief execu tive officer, wrote in a blog post.

Joining Newsom in opposing the measure are the California Teachers Association, the Cali fornia Chamber of Commerce and some venture capitalists who are helping fund the “No” campaign.

The money raised by the tax wouldn’t count toward a state budget rule that says a certain per centage of revenue must go to K-12 education, a provision the teachers don’t like. Meanwhile, the nonpar tisan Legislative Analyst’s Office said the proposal could force lower spending in other areas based on certain budget rules, something supporters of the measure dispute.

PRESIDENT Xi Jinping at the National Congress of the Communist Party of China on October 16. BLOOMBERG

A MEDICAL worker runs past a burning car after a Russian attack in Kyiv, Ukraine on October 10, 2022. Ukrainians’ resilience in the nearly 8-month-old war continues to be unwavering, despite an uptick in attacks that are seen as Russian President Vladimir Putin’s vengeful response to an explosion that damaged a Moscow-built bridge to the Kremlin-annexed Crimean Peninsula on October 8. AP/ROMAN HRYTSYNA

Paalam, Petecio lead 12-member team to Asian Elite competition in Amman

By Josef Ramos

TOKYO Olympics silver medalists

Carlo Paalam and Nesthy Petecio lead a 12-member national team to the Asian Boxing Confederation (ASBC) Asian Elite Men and Women’s Competition from October 30 to November 13 in Amman, Jordan.

A ssociation of Boxing Alliances in the Philippines (ABAP) national training director Don Abnett told BusinessMirror that six male and six female boxers are vying in the event with flyweight Paalam returning to active status since the Tokyo Olympics as he fully recovered from a shoulder injury.

It’s no longer a problem,” said Abnett of Paalam’s shoulder. “He also continuously trained in Cagayan de Oro City and he’s in good form and I don’t think that there’s going to be a problem when it comes to his conditioning.”

Petecio, on the other hand, stayed in camp and was part of the team to the Vietnam 31st  Southeast Asian Games last May but couldn’t defend her

women’s featherweight title and settled for a bronze medal.

T he Amman competition, Abnett clarified, is not a qualifier for the Paris 2024 Olympics but forms part of the ABAP’s program for the 19th Asian Games in September in Hangzhou, China.

Even though it is not an Olympic qualifier, the Asian Elite will be a big boost to prepare our boxers for big competitions ahead,” Abnett said.

A lso in the team are women’s light flyweight Althea Pores, bantamweight Aira Villegas, Tokyo Olympian flyweight Irish Magno and middleweight Hergie Bacyadan.

C ompleting the men’s team are light flyweight Mark Lester Durens, flyweight Rogen Ladon, bantamweight Ian Clark Bautista and Mario Fernandez, featherweight Paul Bascon, light welterweight James Palicte and Samuel Dela Cruz and welterweight Marjon Piañar.

The team’s already in Amman for a two-week training camp.

B8 Tuesday,

ALL’S WELL THAT ENDS WELL

they played together again Friday night against the Nuggets.

He apologized, and we plan on handling ourselves that way, we’re going to play basketball,” Poole said Sunday in his first public remarks since the fight and after video leaked from the incident. “Everybody in the locker room and on our team knows what it takes to win a championship and we’re going to do that on the court. That’s really all I have to say on the matter, we’re here to win a championship and keep hanging banners.”

The 23-year-old Poole finalized a $140 million, four-year extension with the defending National Basketball Association (NBA) champions on Sunday, giving the guard something to celebrate and a bit of relief with a ring ceremony right around the corner.

knows what it takes to win,” Poole said.

O ne of those teammates who will be with Poole for the near future is Andrew Wiggins, who also signed a four-year contract extension beginning for the 2023-24 campaign. Golden State hosts the Lakers on Tuesday night to open the season.

“Obviously this is life-changing for Jordan and his family,” coach Steve Kerr said of Poole, who toiled through the G League as a rookie in the pandemic-interrupted season of 2019-20. “Pretty remarkable. You’re right, I never would have guessed it. His rookie year, he was lost, quite frankly. Most rookies are.”

Poole said he knew the time immediately after returning from two exhibition wins against the Wizards in Japan would be all about getting this deal done.

SANFRANCISCO—Calling it a “long” couple of weeks, Golden State guard Jordan Poole is ready to chase a repeat championship alongside Draymond Green after the

Foreign bets seek top finish in Alveo 5150

THREE of the 30 foreign triathletes vying in the Alveo 5150 Subic Bay look to stir up the chase for the overall champi onship when the premier endurance race held under the Olympic-style setup is fired off Sunday in the country’s top triathlon hub.

S ingapore’s Liam Chan, Korean Hyunji Ko and Byron Sanborn of the US have stepped up their preparations for the upcom ing 1.5-km swim, 40-km bike and 10-km run event, seeking to spoil the local bets’ expected control of the season’s third and last 5150 race in new normal.

“ We are finally back to the country’s triathlon capital and we are now down to our last 5150 and Sprint race of the year,” race director Neville Manaois said. “We have prepared a challenging but wonderful racecourse and at the same time have guaranteed a safe race for everyone.”

A side from the overall crown, Chan and Ko are also eyeing to top the 20-24 age-group category in both sides while Sanborn is one of the men to watch in the 25-29 division of the event organized by the Ironman Group/Sunrise Events Inc.

fourth-year pro took a punch to the face from Green at practice.

Poole wasn’t injured by the violent punch October 5. Green rejoined the team after a leave of absence, and he met with Poole in the days before

Poole has previously referred to being “brothers” with Green and noted Sunday, “If I said it I meant it.”

“ We’re here to play basketball, and our teammates and the coaching staff and the organization, everybody,

No, the Draymond incident didn’t have any impact on how we moved through these things, these had been on-going discussions,” general manager Bob Myers said.

B efore the fight, Green had said he didn’t expect his own extension

Brodeth leads romp in Ormoc City

KIMI BRODETH scored an expected sweep of the girls’ top two crowns while Gerald Gemida posted a win and a runnerup finish as the locals dominated the Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) Mayor Lucy Torres-Gomez National Juniors Tennis Championships at the Ormoc Midtown courts in Leyte over the weekend.

B rodeth, 16, swept her way to the championship of her age group, capping her romp with a 6-0, 6-0

rout of Kate Imalay from Danao, Cebu, then she surpassed her 1-2 finish in last week’s Buglasan Festival meet with a 6-1, 6-0 victory over Corazon Lambonao in the 18-under finals of the Group 2 event presented by Dunlop.

G emida, on the other hand, foiled Kenzo Brodeth, 6-4, 6-2, to claim the boys’ 16-under trophy but John David Velez thwarted his fellow Ormocanon’s drive for a “double” with a 6-4, 6-0 win in the 18-U championship.

before the season. He and Myers spoke Sunday.

Draymond’s in a great spot. He’s got a player option. It’s a great position for a player to be in. You control your own destiny,” Myers said. “I think he’s excited about the year and he wants to win another championship. He sees the opportunity in front of him. I talked to him this morning, I don’t sense any issues there or any problems with that. I imagine he’s going to have a fantastic year, I actually think he will have a great year, he’s got a lot on the line. Usually when Draymond has a lot on the line he performs.”

K err will call on Poole to play better defense with the hopes of using him up to 32 minutes a game off the bench.

Poole has emerged as a talented scoring threat. He had 30 and 29 points, respectively, in his first two career playoff games last spring against Denver, just missing a chance to become the first Warriors player ever to score 30 in his first two playoff games. AP

B ut Gemida went on to share the MVP honors with Kimi Brodeth with the duo bracing for a tougher challenge as the country’s longest talent-search, put up by Palawan Pawnshop president and CEO Bobby Castro, heads to Baybay City, also in Leyte, starting Thursday.

L istup is ongoing. For details, contact Bobby Mangunay at 09154046464.

M eanwhile, Kenzo Brodeth took the 14-U diadem with a 1-0(retired) win over Manuel Jocson from Baybay, while Sogod’s Urcisino Villa crushed Claudwin Tonacao from Bogo, Cebu, 6-1, 6-3, to clinch the 12-under trophy.

Quezon City continues bicycle lane improvements with safety ramps

HE Quezon City government through the Department of Public Order and SafetyGreen Transport Office (QC DPOS-GTO) has installed bike ramps on footbridges and one underpass along the city’s 93-kilometer bike lane network as part of its efforts to improve the city’s bike facilities.

The QC DPOS-GTO upgraded several grade-separated crossings by installing bike ramps to make bike crossing more convenient along the bike lane network.

There are currently five crossings with

Rotary golf for a cause set at Veterans

UCRATIVE

Dan Espinosa will go to the RI D3780 beneficiaries of the Elmer Magnate (late LP president) Foundation, including the poor folk from selected barangays of Quezon City.

L adies and gentlemen divisions will be grouped into Classes A, B, C and D in the System 36 tournament teeing off via

Tnewly-installed bike ramps, including the QMC underpass and footbridges along Commonwealth Avenue (Philcoa, UP AIT), Quezon Avenue (NAPWC) and Katipunan Avenue (UP Town Center).

T he ongoing project aims to install bike ramps on 40 footbridges along the bike lane network.

The local government will also install more concrete plant box barriers designed to make the bike lanes more attractive, safer, and to serve as an alternative and ‘green’ upgrade to plastic barriers used as bike lane physical separators.

The Quezon City Parks Development and Administration Department plans to place an additional 210 plant box barriers along Commonwealth Avenue.

shotgun at 7:30 a.m.

D eadline of registration is on October 17 at 5 p.m.

A n entry fee of P2,500 will qualify every participant to take home expensive appliances and a 55-inch TV, plus a US$1,000 prize for a hole-in-one at hole No. 13.

A m ulligan fee of P500 can earn a P10,000 bonanza and three P3,000 each to a consolation prize winner.

Jalalon picked week’s best by PBA scribes

BEHIND a balanced attack, Magnolia cruised to another smooth ride opposite NLEX and NorthPort to maintain perfection and solidify its grip of the solo lead in the Philippine Basketball Association (PBA) Commissioner’s Cup.

The dominant Hotshots with Serbian reinforcement Nicholas Rakocevic at the helm, trounced their last two assignments by an average winning margin of 16.0 points for a searing 5-0 start midway through the import-flavored conference.

But while the unbeaten run could be attributed to the Hotshots’ collective effort, an unheralded sparkplug from the bench in Jio Jalalon made it easier for Magnolia as the Hotshots shored up their bid for a twice-to-beat advantage in the playoffs.

The scrappy guard continued to shine on his role in leading the Hotshots’ shock troopers behind astounding averages of 14.0 points on 63-percent shooting clip, 7.5 assists, and 3.5 rebounds versus the Road Warriors and the Batang Pier.

The two-time All-Defensive Team member stamped his biggest mark on the defensive end with 5.0 steals in two games to become the Cignal PlayPBA Press Corps Player of the Week for the period Oct. 12-16.

Jalalon beat out Converge gunner Maverick Ahanmisi and Phoenix sniper Tyler Tio for the weekly citation being handed out by the men and women regularly covering the PBA beat.

A gainst NLEX, the former Arellano University standout unloaded 18 points, five rebounds, eight assists and six steals in only 26 minutes of play as Magnolia ran away with an easy 111-97 win.

The Cagayan de Oro native would not be denied against the Batang Pier a few days later as he poured in 10 points, two rebounds, seven assists, and four steals including a buzzer-beating triple at the end of the third quarter to give Magnolia a 20-point lead heading home.

On top of those numbers was Jalalon’s key defensive job on counterparts Kevin Alas of NLEX and Robert Bolick of Northport to solidify his stature as one of the best defensive lynchpins in the league today.

TOKONG IN SEMIS John Mark Tokong shows the form that earned him a victory over Japan’s Yuji Nishi for a slot in the semifinals—and a chance to retain the crown—in the Siargao International Surfing Cup Monday in Siargao. Another Filipino, Philmar Alipayo, beats Kian Martin of Indonesia, also advances to the semifinals in the event being staged off Cloud 9. NONIE REYES

BEST ASIAN RIDER Nichol Pareja receives the Best Asian Rider honors in Stage 7 of the Le Tour de Langkawi on Monday in Langkawi, Malaysia. Pareja, riding for the Philippine National Team and 7-Eleven Roadbike Philippines Cliqq Air21 Continental Team, was part of the three-man lead group three-fourths into the 107-km penultimate stage and wound up in 16th place in the stage where the top 20 finishers were either Europeans or South Americans. He also towed the Nationals to the Best Asian Team category in the stage.

JORDAN POOLE is ready to chase another championship alongside Draymond Green. AP

KIMI BRODETH (left), with Gerald Gemida, enhances a promising career with a “twin-kill” at home.

JALALON

BELMONTE