BusinessMirror October 19, 2022

By Cai U. Ordinario @caiordinario & Samuel P. Medenilla  @sam_medenilla

ACKNOWLEDGING the impact of the accelerating inflation rate, the government is now bracing for slower economic growth next year by boosting local businesses and ensuring support for the poor.

On Tuesday, President Ferdi nand “Bongbong” R. Marcos Jr. met with his economic managers in Malacañang to discuss “soaring inflation,” and the falling value of the peso.

While high inflation may just be temporary, the President’s eco nomic team believes it will still be able to slow the country’s economic growth next year.

In a briefing in Malacañang, Socioeconomic Planning Secre tary Arsenio M. Balisacan said inflation could cut the country’s

growth by “0.6 percent” next year.

Based on the July 2022 esti mates of the Development Budget Coordination Committee (DBCC), the target of the administration is for GDP growth to average 6.5 to 8 percent annually between 2023 and 2028.

“As a small, open economy, the Philippines cannot escape the ef fects of these global headwinds. The Marcos administration is indeed mindful of these challenges. We are

ALLOWING 100-percent foreign ownership when it comes to renewable energy (RE) projects would be beneficial in increasing the foreign direct investments (FDI) attracted by the Philippines and in addressing the country’s energy needs, according to local economists.

The Foundation for Economic Freedom (FEF) said it backed the government’s plans, through the Department of Energy (DOE), to allow more foreigners to invest in

RE. “We anticipate that the DOE, under the leadership of Secretary Raphael Lotilla, will immediately issue a revised Implementing Rules and Regulations of Republic Act 9513 or the Renewable Energy Act to clarify the rules on foreign investments in RE and usher in an influx of investments in RE,” FEF said.

FEF said based on the Department of Justice (DOJ) opinion, it is “correct, timely, and

judicious” to consider that RE coming from the sun, wind and oceans are not depletable “natural resources” and thus not subject to Constitutional limitations on foreign ownership.

The local economists said renewable energy can contribute to the country’s energy mix, which includes not only non-RE sources like coal, gas, and diesel, but also hydro, geothermal, and possibly nuclear.

With the RE sector open to

foreign investments, foreign investors can also participate in the country’s micro-grid development program through solar and wind projects.

“If the RE sector attracts huge capital entry,” FEF quoted Lotilla as saying earlier that, “additional power from the RE plants can help offset the loss from the 1200 MW Ilijan plant’s output due to the decrease of natural gas supply from

PHL growth seen to slow further, trail regional peers

THE Philippines’s average economic growth rate could slow further to between 4 and 5 percent in the next 10 years, according to a report released by Bain & Company and Monk’s Hill Ventures’ Angsana Council.

The report said the country’s growth was higher at 6.6 percent be tween 2011 and 2019 but declined to 4.8 percent between 2011 and 2021. This slowing trend is expected to continue given that the country’s development constraints continue to make it difficult to do business in the Philippines.

“[The Philippines has] shown steady improvement over the last two decades, but the ability to do

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

TOURISM Secretary Christina Garcia Frasco’s frenetic pace at getting tourism stakeholders together and working to revive the in dustry may have unwittingly left her fellow Cabinet members behind in the dust.

“When Secretary Christina first took on the Department of Tourism [DOT], she moves so quickly that I had to talk to the others in the Cabinet and I said,  ‘You know, she’s making us look bad. We better quicken

our game,’” joked President Fer dinand Marcos Jr. during his keynote address at the Philip pine Tourism Industry Conver gence Reception at the SMX Convention Center on Monday night.  “So she keeps us on our toes and she has always kept a very, very clear idea in her mind what we are trying to achieve. And she has brought a passion and an energy that certainly we are going to need. But it is a passion and an energy that gives us confidence that we will succeed,” he added. Except for a handful, most Cabinet Secretaries in the Marcos Jr. administration, including the

President, are over 60 years old.

At the event, Frasco informed participants of the directions the DOT is taking to revive the indus try and build on the gains of the current successes of the tourism sector. This included her sevenpoint agenda to ease connectivity and access to tourism destina tions, promoting lesser-known destinations in the country here and abroad, and upscaling the skills of the tourism work force.

Much is expected, but low on funds IN his speech, Marcos Jr. also quipped that Frasco probably had “some sinister plan on the

[Department of Public Works and Highways’] budget,” with Secretary Manuel Bonoan among the guests of honor at the event. The President said, “In all our Cabinet meetings,” the DOT chief had complained that her agency didn’t have enough funds to build the infrastruc ture needed to make tourism destinations more accessible.

The DOT has an approved budget of P3.57 billion for 2023, while its marketing arm, the Tourism Promotions Board, can initially tap just P1.1 billion of its P20-billion special fund in

THE business district in Ortigas is seen in this recent file photo.

With an eye out on the impact of the accelerating inflation rate, the government is bracing for slower economic growth next year by boosting local businesses and ensuring support for the poor. The President’s economic team believes that, while high inflation may just be temporary, it will still be able to slow the country’s economic growth in 2023. NONILON REYES

Nabbed by PHL cops, Kazuo Okada says will face charges

By VG Cabuag

J APANESE casino mogul Kazuo

Okada was arrested by local police men on Monday in relation to the grave coercion cases lodged against him by the board of Tiger Resort Leisure and Entertainment Inc., the operator of Okada Manila.

The Philippine National Police (PNP) Aviation Security Group ar rested Kazuo at the Ninoy Aquino International Airport (Naia) Termi nal 1, after he landed from Haneda, Japan at 5:40am on Monday, accord ing to a statement from Universal Entertainment Corp., the parent firm of TRLEI.

The Kazuo group, along with An tonio O. Cojuangco, Dindo A. Es peleta and their lawyer Florentino Herrera, are facing criminal charges for grave coercion, following their

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the National Treasury. Marcos Jr., in his speech, once more stressed the tourism industry’s potential to be an engine of growth for the country.

Interviewed after the event, Fra sco said the aesthetic changes in design to reflect the Filipino brand will likely be completed at the Ninoy Aquino International Airport Ter minal 2 “by the end of the year…. So what you can expect are elements of our culture, such as the solar panels, Filipino-made furniture, weaves by our various tribes from all over the

illegal and violent takeover of inte grated casino resort Okada Manila on May 31.

The Kazuo group has operated the $3.3-billion integrated resort and casino for months since its take over in May, after TRLEI seized back the management in early September.

Kazuo went to Manila on October 17, on board Japan Airlines flight JL 77, to fight the grave coercion charges filed by the Department of Justice against him, and three other associates.

“I insisted on coming back to the Philippines despite several warnings from my lawyers that I may be de tained by the authorities. I want to show to the Filipino people and the world that I am not afraid. I came back to face this grave coercion charge against me and my associates. I have nothing to fear when I know I am

country, as well as an incorporation of greenery and plants.” Other gate ways that are up for rederesign are the Cebu City Pier One and Davao International Airport.

First impressions last OUR gateways and airports, sea ports are the first impression that our tourists have. And therefore, it’s very important to be able to make a good first impression, and to encourage our tourists, not just to come to the Philippines once, but to keep coming back again and again,” she stressed.

Meanwhile, Frasco said the DOT has started discussions with the Department of National Defense,

standing on the right side of the law. I will not bow down to intimidation, and I will not back off from this legal battle. This fight isn’t over,” Kazuo said in a statement.

“In the end I will be able to prove that I am the rightful and beneficial owner of Okada Manila. I am confi dent that the legal process within the Philippine courts system will vindi cate us in all the cases filed against me and my business associates.

“The DOJ legal panel has already dismissed for lack of merit the six other charges of kidnapping, unjust vexation, falsification of public docu ments, direct assault, slight physical injuries, and serious illegal deten tion. Today, I will post bail for my temporary freedom. I have given my instructions to my legal team to avail of all legal remedies to ensure that those who fooled and robbed me in

“because we fully intend to ensure the peace and security of our tour ists,” who are traveling especially to Mindanao.

Others who attended Monday’s event, which also showcased accom plishments of the Cebu province in the tourism sector, were First Lady Liza Araneta Marcos, Vice President Sara Duterte, Frasco’s mother Cebu Gov. Gwendolyn Garcia, Frasco’s spouse Cebu 5th District Rep. Duke Frasco, Ilocos Norte 1st District Rep. Sandro Marcos, Trade Secretary Al fredo Pascual, the diplomatic corps, local and government officials, DOT officials, and private tourism stake holders.

Okada Manila be sent to jail for their lies, deceit and usurping operational control of Okada Ma nila,” Kazuo said.

The Metropolitan Trial Court of Parañaque Branch 90 and Branch 91 issued warrants of ar rest against Kazuo on October 11.

The MTC Branch 91 has set Kazuo’s arraign ment and pre-trial for October 28. On the other hand, MTC Branch 90 has set Kazuo Okada’s arraignment and pre-trial for November 7 and December 5 at 1:30 p.m.

“We are grateful to the Philippine authorities for their swift arrest of Kazuo Okada. We will continue to work with the law enforcement units to bring Kazuo Okada to justice, as we have done in the past in other jurisdictions,” Tiger Resort Asia Ltd. director and representative to TRLEI Kenshi Asano said.

“As we wrap things up in fixing the mess that the Kazuo Okada Group brought to Okada Ma nila, we are optimistic that the intra corporate dispute will soon be resolved by the Philippine courts,” he said.

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business always lags the potential of its educated and dynamic population,” the report stated.

The think tank said Philippine growth in the next 30 years is around 3.4 percent. This is the second lowest average growth in the Asean-5 for the period.

The fastest growth will be registered by Vietnam 6.7 percent followed by Singapore at 4.4 percent; Malaysia, 4.2 percent; and Indone sia, 3.6 percent. Thailand will post the slowest growth at an average of 2.8 percent in the next three decades.

Further, GDP per capita in the Philippines will also see the lowest compounded annual growth rate (CAGR) in the next three decades at only 1.9 percent. This will be slower than the 2.3 percent posted between 1991 and 2020.

“Looking back at the six leading economies in Southeast Asia, we see three broad outcomes in terms of GDP per capita: Vietnam outperform ing; Malaysia, Indonesia, Thailand, and Singa pore performing at about the same rate; and the Philippines underperforming,” the report stated.

The Southeast Asian economy, it added, is forecasted to grow by 4-5 percent annually over the next 10 years, with Vietnam leading the charge at a projected growth of 5-7 percent.

While many economists have correctly fo cused on the progrowth policies, stable macro economics and healthy demographics of South east Asia, they are often missing two critical sources of additional growth.

These are the growing impact of tech-enabled entrepreneurs on investment, productivity and economic inclusion; and that SE Asia’s largest trading relationships are with China—as China grows, SE Asia grows.

“Contrary to conventional wisdom that SE Asia benefits most from businesses diversifying away from China, SE Asia benefits most from a growing Chinese economy,” the think tank said.

The think tank said the greatest force of progress in most developing countries are techenabled disruptors (TEDs) which are directly and indirectly impacting six of the seven tra ditional growth drivers by promoting business creation, enabling healthy competition, raising investment, strengthening e-government, im proving education and productivity levels, and improving infrastructure.

Pressure from TEDs is forcing traditional family-controlled or “national champions” to increase investment levels and accelerate inno vation or face irrelevance in the coming decade.

Bain & Company and Monk’s Hill Ventures’ Angsana Council said most Southeast Asian governments actively nurture the growth of TEDs with beneficial policies, regulations, and infrastructure building in areas critical to techenabled disruption.

Another advantage of SEA is the demographic dividend expected from the size and growth of its working-age population. In 2022, China’s population tipped into absolute decline.

The Asean has the largest cohort of children relative to total population among the emerg ing regions under review.

Middle-class consumerism is expected to rise given a youthful population that needs to spend on lifestyle, education, housing, and other needs well into the 2030s, while Latin America and East ern Europe’s populations will begin to contract.

Cai U. Ordinario

RE. . .

Continued from A1

the Malampaya gas field.”

Earlier, the DOE said it is working on the necessary amendments in the RE law following the legal opinion of the Department of Justice declaring that RE is not subject to the 60:40 rule on foreign ownership.

DOE, citing Justice Secretary Crispin Remulla, said the constitutional foreign ownership restriction on the exploration, development and utilization of natural resources only covers things that are susceptible to appropriation, thus excluding the sun, the wind and the ocean.

RE sources such as solar, wind, hydro and ocean or tidal energy sources are considered kinetic energy sources. (Full story: https://businessmirror.com.ph/2022/10/03/re-lawchanges-crafted-on-eased-equity-share/) Cai U. Ordinario

Inflation. . .

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particularly concerned about higher inflation,” Balisacan said.

“Our analysis shows that sustained increases in inflation in 2022 and 2023 will cause a slowdown in our economic growth, translating into a GDP level lower by 0.6 percent in 2023 than its expected level had there been no sustained inflation shock,” he added.

Balisacan also assured the public that high inflation is only temporary. He said this is expected to cool and return to the medium-term target of 2 to 4 percent.

The National Economic and Development Authority (Neda) chief said high inflation was attributable to expensive food items brought by the invasion of Ukraine as natural calamities experienced by the Philippines.

The International Monetary Fund (IMF) said currency depreciation and high commodity prices surge will slow the country’s growth prospects next year. (Full story: https://businessmirror.com. ph/2022/10/12/imf-price-spikes-strong-us-dollarimperil-growth/)

The IMF said inflation in the country is expected to average 5.3 percent this year; 4.3 percent in 2023; and 3 percent in 2027. At the end of the year, inflation is expected to reach 5.8 percent while the end of 2023 will still see higher than expected inflation of 3.7 percent.

“Inflation has remained persistently high globally, driven by rapid price increases in food, transportation, and energy. The Philippines and our Asian neighbors are not spared from these trends—major economies in the ASEAN, such as Thailand, Singapore, Indonesia, and Malaysia, have seen their inflation rates accelerate in the past year,” Balisacan said.

Nonetheless, Balisacan said the IMF still expects the country’s growth to average 6.5 percent this year and 5 percent next year. The IMF also expects the country’s GDP growth to average 6 percent in 2027.

Similarly, ADB and the ASEAN+3 Macroeconomic Research Office (AMRO) project Philippine economic growth to remain robust in 2022 and 2023, with the economy expected to grow by 6.5 percent to 6.9 percent in 2022 and 6.3 percent in 2023.

Balisacan added that the country’s employment situation has also improved on the back of the economy’s reopening.

He noted that the country’s unemployment rate fell to 5.3 percent in August 2022 from 8.1 percent in August 2021, while the labor force participation rate rose to 66.1 percent from 63.6 percent.

“The Marcos administration assures the Filipino people of its vigilance and steadfast commitment to monitoring and managing these risks,” Balisacan said.

The Philippine Statistics Authority (PSA) earlier reported that a total of 2.68 million Filipinos were jobless in August. This was higher than the 2.6 million recorded in July 2022 but lower than the 3.88 million in August 2021.

With both trends—the inflation and declining peso performance—expected to continue in the coming months, Marcos said he is giving priority to measures to address the source of the rising inflation and “protect” the value of the peso.

“Our priority is to solve the rising prices of goods, which is the cause of inflation and other problems in the economy,” Marcos said in a post on his Facebook page.

Mitigating measures

MEANWHILE , Balisacan said the new Philippine Development Plan (PDP), which is expected to be completed before the end of the year, will lay the “groundwork for faster, more inclusive growth that generates high-quality employment to reduce poverty rapidly.”

It is expected to remove constraints in business investment, food, energy, and transportation systems.

Among the industries expected to benefit from the PDP’s “strategic actions” are the  manufacturing and agriculture, tourism, IT-BPOs, construction and the creative industries.

“These actions will mitigate inflationary pressures, protect the poor and most vulnerable in society through targeted assistance, and manage the socioeconomic scarring, especially for students and MSMEs [micro, small, and medium enterprises], to hasten our recovery,” Balisacan said.

Suspect in Percy Lapid murder case surrenders

By Glen Jacob Jose

THE suspected gunman in the killing of veteran radio host Percival Mabasa, popularly known by his radio name as Percy Lapid, surrendered to authorities over fears for his own life, Department of the Interior and Local Government (DILG) Secretary Benjamin Abalos Jr., said on Tuesday.

“Ngayong umagang ‘to, gusto ko lang i-kumpirma na nasa kustodiya na ng PNP [Philippine National Police] itong sus pek na ang pangalan ay Joel Estorial. Siya ay of course ay taga-Quezon City. [This morning, I would like to confirm that the PNP has under its custody a suspect identified as Joel Estorial, He is of course a resident of Quezon City],”

Abalos told reporters in a news confer ence at Camp Crame.

Abalos said Estorial, 38, turned himself in to the police on Monday, “out of fear for his personal safety” after his photo was released last week and a P6.5-million bounty was placed for his capture.

Estorial, who revealed that there are six of them involved in the murder of Lapid for P550,000, also surren dered the firearm he allegedly used to kill Lapid last October 3 at the gate of BF Resort along Aria Street, Barangay Talon 2, Las Piñas City.

Estorial, when asked by Abalos, said that he surrendered out of fear

after seeing his face on splashed on television and print media.

“Ang tanong nang publiko totoo kayang sumuko ’yan or he’s just a fall guy? Hindi po, siya talaga hindi niya lang inamin because the gun itself matched the slug, nag-match ang bal listics. ’Yung mga damit [na suot niya nung nakuhanan siya ng CCTV] na pi nunit punit niya nandoon pa rin. [The question is could he the real gunman or just the fall guy? No, it’s really him, he just didn’t admit it because the gun itself matched the slug, the ballistics matched. The clothes that he was wearing when he was caught on CCTV which he tore apart are still there and were presented to the po lice],” said Abalos.

Abalos said Estorial issued an extrajudicial confession where he also named his cohorts identified as brothers Edmon and Israel Dimacu langan and a certain “Orly,” who are all still at large and are now subjects of a massive manhunt.

Abalos said police are still identi fying the mastermind of the crime as well as the motive.

Wearing a bulletproof helmet and vest, Estorial faced the members of the media and apologized to the fam ily of the victim.

“Sana po mapatawad ako nila. Hindi ko naman kagustuhan ’yun. Nadala lang ako [I hope they can forgive me. I had no intention and I was just carried away],” he said.

Estorial said the order to kill La pid came from someone “inside the

National Bilibid Prison.”

Estorial narrated that he was with Orly, a resident of Batangas, during the incident. The Dimaculangan brothers on the other hand were on board another motorcycle.

He said they agreed among them selves who ever is close to the broad caster will do the kill shot. Lapid was nearest in terms of physical distance to the team of Estorial, thus prompt ing him to shoot the victim dead.

“Kasi ’yung ano usapan, kung sino ang matapat doon kay Percy po, siya ang

babaril eh nagkataon natapat sa akin, sabi naman po kapag hindi ko binaril, ako ang papatayin kaya binaril ko na po si Percy [What was agreed upon was who ever is nearest to Percy, they would shoot him. It so happened that he was near our team. I was told, if I will not shoot him, they will kill me, so I shot Percy],” Estorial said.

When asked by Abalos as to who threatened him Estorial answered, “Si Orly.”

Estorial said that the P550,000 was split six ways with him getting

P140,000 deposited to his account.

The other two who were not iden tified were from “Bilibid.”

For his part, Southern Police District (SPD) chief Brig. Gen. Kirby John Kraft said Estorial surrendered on Monday.

Lapid was ambushed by two men on board at around 8:30 p.m. last October 3.

A few days later, the PNP released a photo of the suspect.

The reward for any information to the suspects grew to as much as P6.5 million.

Earlier, National Capital Region Police Office (NCRPO) Chief, Brig. Gen. Jonnel Estomo, ordered the five police districts in the region to coordi nate closely with media personalities in their areas of jurisdiction to iden tify possible threats against them.

“This is in consonance to the pro nouncement of President Ferdinand R. Marcos Jr. to ensure the safety and security of all media practitioners in the country and the same directive from the Chief PNP, Gen. Rodolfo S. Azurin Jr.,” Estomo said.

He directed all district directors and chiefs of police of the five police districts of National Capital Region Police Office to initiate a dialogue with all journalists, broadcasters, and media practitioners in their respective areas to determine if there imminent threats against any them, and address their security concerns accordingly.

Estomo’s guidance implies detail of security, if need be, depending on the gravity or seriousness of the as sessed threat.

“We acknowledge the risks in volved in the job of our media friends, hence, we are duty-bound to protect them,” he explained.

JOEL ESTORIAL (center), the self-confessed gunman in the October 3 murder of broadcaster Percy Mabasa, known by his radio name as Percy Lapid, is flanked by Interior and Local Government Secretary Benjamin “Benhur” Abalos Jr. and National Capital Region Police chief Brig. Gen. Jonnel Estomo.

CONTRIBUTED PHOTO

Editor: Vittorio V. Vitug

Economy

BusinessMirror

Rice imports as of October 13 reach 3.097 MMT–BPI data

By Jasper Emmanuel Y. Arcalas @jearcalas

THE country’s rice imports in mid-October have reached close to 3.1 million metric tons (MMT), nearing a new recordhigh volume, latest government data showed.

Bureau of Plant Industry (BPI) data showed rice imports from Jan uary to October 13 reached 3.097 MMT, surpassing the 2.771 MMT total volume imported for the whole year of 2021.

Furthermore, historical govern ment data showed that the total rice imports during the reference period is just 24,161.793 MT away from eclipsing the 3.122 MMT record high

volume recorded in 2019.

BPI data showed that 142 eligible rice importers, traders, and compa nies used a total of 3,452 sanitary and phytosanitary import clearance (SPS-IC) from January to October 13 for their rice imports.

During the reference period, NAN STU Agri Traders was the top rice importer with a total volume of 161,820.35 MT followed by Manus Dei Resources Ent. Inc. at 142,881.28 MT, based on BPI data.

BPI data showed that the coun tries of origin of the country’s rice imports were China, India, Japan, Myanmar, Pakistan, Singapore, Spain, Thailand and Vietnam.

Vietnam accounted for 83 percent or about 2.568 MMT of the country’s

total rice imports during the refer ence period. It was followed by Myan mar at 205,439.28 MT and Thailand at 154.056.375 MT.

Pakistan exported 149,775.675 MT of rice to the Philippines, while India shipped 9,822.3 MT. The coun try also imported 9,328.385 MT of rice from China and 822 MT from Singapore, BPI data showed.

The United States Department of Agriculture (USDA) earlier revised upward its total rice import fore cast for the Philippines this year to a record level of 3.4 MMT, from an earlier estimate of 3.2 MMT.

In its monthly global grain report, the USDA increased its total rice im port forecast for the Philippines this year by 200,000 MT due to “large

purchases from Vietnam.”

The new import forecast for the Philippines, the world’s second-largest buyer of rice, is 15.25 percent higher than the 2.95 MMT of rice it imported last year, based on USDA data.

Last month, the Department of Agriculture (DA) said the country’s total palay production this year would settle at 19.5 MMT or about 12.754 MMT of rice.

The DA was confident that the production forecast would be achieved despite “global chal lenges,” such as pricier fuel and fertilizer.

The DA noted that the expected total rice import arrival from Janu ary to September would only be at 2.751 MMT.

Sen. Mark Villar affirms vow to boost DTI support to industries

By Butch Fernandez @butchfBM

SEN. Mark Villar, presiding at a Senate hearing on the annual budget of the Department of Trade and Industry (DTI) and its at tached agencies, has vowed to boost DTI’s support to local industries.

Batting for preferential treat ment on local goods and industries, the senator assured, “We appreciate DTI’s initiative to help boost our local industries,” even as he acknowledged that “the use of infrastructure and technology will definitely help us.”

Villar affirmed this assurance as the DTI presented various programs that cater to the welfare of local

firms, citing, for instance, the estab lishment of the Regional Inclusive Innovation Center, the Construction of Shared Facilities Program and the Artificial Intelligence Roadmap.

In turn, trade department officials assured that foreign investors are given a line of credit that expedites payment, while a similar line of credit is not available for local companies.

This prompted Villar to remind the DTI that such line of credit, but much bigger line of credit, must be extended to local manufacturers “be cause they are the ones based here.”

Even as Villar stood as sponsor of the DTI budget bill in the plenary deliberations, Villar also sought firm

assurance on the availability of line of credit for local firms in order to support them.

In the same hearing, Sen. Raffy Tulfo called out the DTI on the manu facturing, distribution and selling of consumer products that are “injuri ous, unsafe or dangerous.”

Tulfo said Article 10 of the Con sumer Act of the Philippines states, “Whenever the departments find, by their own initiative or by petition of a consumer, that a consumer product is found to be injurious, unsafe or dan gerous, it shall, after due notice and hearing, make the appropriate order for its recall, prohibition or seizure from public sale or distribution.”

The senator particularly cited products that are consumed mostly by those in the low-income bracket such as canned sardines and instant noodles, which contain more than the allowable 2,000 milligrams of sodium if consumed two to three times a day. He clarified, however, that he is not against the selling of instant noodles since these are “poor man’s food.”

Tulfo said the DTI should tell the manufacturers to reduce the sodium contents of these products. “Can the DTI do something about it?” Tulfo asked. The senator was informed that the matter that he raised falls under the jurisdiction of the Depart ment of Health.

Party-list lawmaker Salo hails OFWs for sustained growth in remittances

By Jovee Marie N. Dela Cruz  @joveemarie

THE chairperson of the House Committee on Overseas Workers Affairs on Tuesday hailed overseas Filipino workers (OFW) for their increased remit tances in August.

Kabayan party-list Rep. and panel chairman Ron Salo, in a news state ment issued on Tuesday, said the remittances of OFWs had reached $2.72 billion in August.

This is higher than the $2.61 bil lion recorded in the same month last year, he said, citing figures from the Bangko Sentral ng Pilipinas (BSP).

“Our Kabayan OFWs sent home through the banks $31.418 billion re mittances in 2021, and it is expected to further increase this year,” he said.

“These remittances really go a long way in helping their loved ones here in the Philippines,” Salo added.

According to the BSP, for the first 8 months, personal remit tances reached $23.3 billion, or 3 percent higher than the $22.67 billion in 2021.

Salo also noted the impact on economic growth of the cash remittances.

“The remittances continue to stimulate our economy by providing OFW families with more money to spend on essential goods and servic es, health care, education, and other investments,” Salo explained.

Last week, Salo’s panel held ini tial deliberations on House Bills 185, 1190, 2944, 3020, 4170, 4257, 4343, 4397, and 4469, that all aim to strengthen the protection and lessen the cost of OFW remittances.

“Time and time again, our OFWs prove their significant role in alle viating the plight of their families

here in the country, as well as in boosting the country’s economy. We have to show them our appre ciation,” Salo said.

“Thus, we in the House Com mittee of Overseas Workers Affairs aim to craft legislative measures that will support the efforts of the government to lower the remittance charges against OFW funds to make sure that our Kabayans take home more of their incomes. It is the least we can do to show our gratitude for their sacrifices,” Salo added.

Salo noted that these measures seek a 50-percent discount on remit tance fees, which would eventually be granted as tax deductions for re mittance service providers.

Tarlac Rep. Christian Tell Yap, for his part, said there are OFWs who are still unaware of certain moneytransfer fees and charges when send ing money to their families.

He said that his proposal would require intermediary financial in stitutions to actively disclose their service fees, thereby ensuring com pliance to proper and just practices under the law.

Citing OFWs’ high contribution to the Philippine economy through remittances, Yap said that the bill could help protect the financial wel fare of OFWs, as well as sustain the country’s economic growth.

For his part, Antique Rep. Anto nio Legarda Jr.  said the bill would prohibit any fees imposed without prior consultation with the Depart ment of Finance and the Bangko Sentral ng Pilipinas.

The committee approved the con solidation of the nine bills, as well as the consideration of position papers to be submitted by concerned agen cies and organizations in crafting the substitute bill.

USAID and PBEd boost tech-voc training program with P228-M addl investment

By Claudeth Mocon-Ciriaco @claudethmc3

AN additional $3.8 million or P228 million will be in vested by the US government through YouthWorks PH, a private sector-driven employability part nership between the United States Agency for International Develop ment (USAID) and the Philippine Business for Education (PBEd), to provide free skills-based and workbased training to unemployed and out-of-school Filipino youths.

“The US government is proud to invest in the Filipino youth. Together with PBEd, we are providing training opportunities that will lead them to employment so they can provide for themselves and contribute positively to society,” said US Embassy Deputy Chief of Mission Heather Variava during YouthWorks PH’s first-ever Skills Partnerships Summit in Taguig City on October 8.

The additional funding extends the YouthWorks PH program for an other three years that is to be com pleted in 2026.

With the theme “Back on Track: Paving the Path to Prosperity with a Skilled Young Workforce,” the summit gathered the country’s top business leaders and national and local government officials to discuss

partnership strategies for the skills development of the Filipino youth.   Variava commended the com mitment and creativity of govern ment and private sector partners in spearheading initiatives to further enhance technical-vocational skills training in the Philippines.

“Investing in our youth is invest ing in our country’s success. Through YouthWorks PH, the youth—espe cially those who are not in educa tion, employment or training—are empowered with the right skills needed for their employment,” PBEd Chairman Ramon R. del Rosario Jr. said.

“With the help of our partners, we are able to provide work-based train ing, enhance their employability and help them get back on track,” he said.

To date, the partnership between USAID and PBEd has provided more than 13,000 work-based training positions with its industry partners, leading to the placement of close to 4,000 youth who are not in educa tion, employment, or training.   Initially implemented in five main areas (Cagayan de Oro, Cebu, General Santos, Greater Manila Area, and Zamboanga), the program has also expanded its geographic reach to five additional sites (Agusan del Sur, Bo hol, Northern Cebu, Sarangani, and South Cotabato).

Remulla to look into claim that kill Percy Lapid order came from NBP inmate

JUSTICE Secretary Jesus Crispin Remulla on Tuesday said he would direct Bureau of Corrections (BuCOr) DirectorGeneral Gerald Bantag to look into the claims of the self-confessed gunman in the ambush-slay of Percy Mabasa, also known by his radio name as Percy Lapid, that someone from the New Bilibid Prison (NBP) gave the order to kill the late broadcaster.

In a hastily called news confer ence, Remulla admitted that he has yet to be briefed as to the circum stances, details and statements made in connection with the surrender of 38-year-old Joel Estorial.

Estorial surrendered to the Philippine National Police (PNP) out of fear for his personal safety after his wanted poster photo was splashed in various publications and television news programs.

Following his surrender, Esto rial tagged three other suspects who are still-at-large in the kill ing of the veteran radioman. He identified them as Israel and Ed mon Dimaculangan and a certain Orlando or Orly.

“I actually have no knowledge yet of what he narrated. I want to be briefed about it and I will ask [Department of the Interior and Local Government] Secretary [Benjamin] Abalos Jr. to brief me later.

“Whoever that person is, we need to find out,” Remulla vowed.

Remulla added that he would ask Bantag to submit a report to him with regard to Estorial’s claim the soonest possible time.

Remulla, however, explained that the gunman’s claim might differ

from what information that Bantag may provide.

“What the gunman said and the DG [Bantag] knows, we do not know if they are the same. We cannot pre sume that,” he said.

At the same time, Remulla said the confession of the al leged gunman should be vetted thoroughly.

“If guilty, it has to be vetted prop erly. Definitely, a gunman is not the whole crime itself. It should be vet ted as a conspiracy probably,” the DOJ chief said.

Meanwhile, BuCor spokesman Gabriel Chaclag said an investigation is now being conducted to verify Es torial’s connection with an unidenti fied inmate.

He said a report is expected to be submitted within the day (Tues day). “Rest assured that BuCor is one with you in our collective quest for truth,” Chaclag said.

“Our policies in the NBP are all aimed at preventing convicted criminals in further being able to inflict harm on our free society,” he added.

“It is wrong in all sense that a prisoner can still be able to com municate with his cohorts to perform criminal acts outside,” Chaclag said.

“We, in BuCor will not tolerate this and we are open to any inquiry as we are serious in our job and would always endeavor to improve our sys tems if indeed there had been lapses,” he added.

The 63-year-old Lapid was gunned down by motorcycle riding men on October 3 at Aria Street, Barangay Talon Dos at around 8:30 p.m. Joel R. San Juan

House leader pushes ‘state-to-state’ collaboration on creative economy

By Andrea E. San Juan

ALAWMAKER has emphasized the need for more “state-tostate” collaboration on creative economy, according to the Department of Trade and Industry (DTI).

The DTI said the House of Representatives Special Committee for Creative Industry and Performing Arts Chair Rep. Christopher de Venecia served as one of the speakers at the panel session on public-private partnership at the World Conference on Creative Economy (WCCE 2022), which was held in Bali, Indonesia.

The DTI said in a news statement issued on Tuesday that de Venecia highlighted the importance of publicprivate sector collaboration in promoting creative economy in the Philippines, including the creation of the Philippine Creative Cities Network and the enactment of the Philippine Creative Industries Development Act.

Further, the DTI noted, the lawmaker emphasized the need for more “state-tostate collaboration” on creative economy, which is evident in the recently signed PhilippinesIndonesia Memorandum of Understanding (MOU) on Creative Economy.

According to the trade department, the WCCE 2022 finalized a “non-binding” Bali Creative Economy Roadmap 2022, which it said contains action points that countries may wish to implement and include in their respective economic development agenda.

The DTI also noted that de Venecia proposed the creation of a dedicated Asean working group on creative economy.

Just last month, DTI said Trade Secretary Alfredo E. Pascual and Indonesian Minister of Tourism and Creative Economy Sandiaga Uno signed an MOU “on the exchange of information on market research and policy trends, as well as facilitate co-production, co-branding programs, and marketing of creative products, goods and services.”

It’s worth noting that according to the private sector-led Creative Economy Council of the Philippines (CECP), about 2 to 3 million Filipino creative freelancers work locally, while 1.5 million Filipino creatives handle international projects. In addition, CECP said the creative industry was worth roughly P1.27 trillion in 2019.

In an earlier statement, Assistant Secretary Glenn Peñaranda, Officer in Charge for DTI’s Trade Promotions Group (TPG) stressed that while the Philippines is considered to be the top exporter of creative services in the Asean region, the country’s total creative exports only amount to 2-percent market share in Asia-Pacific.

During his speech at the Creative Futures 2022 in July, Pascual said that the Philippines is targeting to become the top creative economy in Asean by 2030.

The trade chief underscored the Trade department’s goal of elevating the country’s creative economy and increasing its competitiveness globally.

DOJ weighing BI recommendation on amnesty grant for illegal aliens

By Joel R. San Juan @jrsanjuan1573

JUSTICE Secretary Jesus Crispin Remulla disclosed on Tuesday that the Bureau of Immigration (BI) has recom mended the grant of amnesty for illegal aliens in the country, includ ing those working in illegal Philip pine Offshore Gaming Operations (POGOs) outlets.

“We will look at the recommen dation of the Bureau of Immigra tion [BI] because somebody recom mended to me the start of probably a process of amnesty,” Remulla said during a news conference.

When asked if he is inclined to approve the recommendation and what are the considerations for the grant of amnesty, Remulla said he has not been provided with the full details of the proposal.

“No details yet. But [it] should cover all illegal aliens,” the DOJ chief said.

He lamented that many of these illegal aliens have become milking cows of unscrupulous groups and individuals.

“We have so many illegal aliens in this country that have to be recorded properly. They are becoming milking cows of many people who should not be doing it,” Remulla claimed.

PBBM declares October 31 special non-working holiday

By Samuel P. Medenilla @sam_medenilla

“All of these mistreatment of aliens should stop. They should be accorded humane treatment just like our kababayans abroad. We all pray that all Filipinos abroad are treated properly. So the foreign ers in the Philippines should be accorded the same humane treat ment,” he added.

Meanwhile, the justice secre tary said the deportation of Chi nese nationals working in illegal online gaming outlets will start on October 19.

“The first deportation is set on October 9, with five or six to be ini tially deported,” Remulla noted.

Meanwhile, there are 400 more Chinese POGO workers in BI’s custody and are now being pro cessed for deportation.

“China is validating the identi ties of the persons to be deported if they are really their nationals, if they are overstaying. The BI has already canceled visas of many of those working at the illegal POGO outlets,” Remulla disclosed.

Last week, the DOJ said the BI had already canceled the visas of 1,424 Chinese nationals working in illegal POGO outlets.

Earlier, Remulla said the BI is set to cancel the visa of 48,782 Chinese nationals working in illegal POGOs.

The BI earlier said the cancellation

of the visas of these illegal Chinese workers is more “cost-efficient and humanitarian.”

Instead of deporting them, the cancellation of alien vi sas would simply allow the Chinese nationals to voluntarily exit the country within a non-extendible period of 59 days.

Those who refused to voluntarily leave the country after 59 days will be “summarily deported.”

The President’s call AT the same news conference, Re mulla also rejected calls for his res ignation following the arrest and filing of drug charges against his eldest son, Juanito.

The justice chief said he is leav ing it up to President Ferdinand R. Marcos Jr. to decide on whether he should stay or leave his post due to his son’s case.

“It will not happen. I will not comment anymore on other issues there but it will not happen. That is not my call. It’s the President’s call,” Remulla told reporters in his first media briefing since his son was arrested Monday last week.

“If I feel later on that I am not anymore effective in this position then I will talk to the President about whatever has to be done in the future,” he added.

Remulla said he has yet to talk with his 38-year-old son since he confirmed the latter’s arrest last October 13.

Juanito was arrested last week while Remulla was in Geneva, Swit zerland, leading the Philippines’s delegation to the 51st United Nations Human Rights Council (UNHRC) Enhance Interactive Dialogue and Bilateral Meetings and to the State’s Constructive Dialogue/Revalida with the Human Rights Committee on the International Covenant on Civil and Political Rights.

Operatives of the Philippine Drug Enforcement Agency (PDEA) arrested Remulla’s eldest son while claiming a parcel allegedly contain ing P1.3 million worth of “kush” or high-grade marijuana.

Juanito was subsequently charged with illegal possession of drugs be fore the Regional Trial Court of Las Piñas City.

When asked to comment on the calls for him to resign out of delicadeza, Remulla answered: “No comment. I know myself. I know it’s not only me on trial here. It’s my son on trial. It’s the country in trial in some ways but it’s par for the course. It happens.”

Remulla also noted that he is “calm enough to face anybody about any issue.”

FILIPINOS

can look forward to a long weekend when they remember their departed loved ones November.

President Ferdinand R. Marcos Jr. has declared October 31, 2022 a special non-working holiday.

In a news conference on Tuesday, Office of the Press Secretary (OPS) Officer in Charge Cheloy E. Velicaria-Garafil said Marcos issued the necessary proclamation for the said declaration to encourage more people to travel.

“This is why we have a longer time to be with our families and to promote local tourism,” Garafil said.

Under Proclamation No. 1236, All Saints’ Day, which will be celebrated on November 1 (Tuesday), was declared as a special nonworking holiday.

Meanwhile, All Souls’ Day, which is commemorated on November 2 (Wednesday), will be considered as a special working holiday.

During his speech at the Philippine Tourism Convergence Reception in Pasay City last Monday, Marcos stressed the important role of tourism in the country’s economic growth.

“We fully understand how tourism can drive our social, economic recovery, especially in the countryside, given the majestic and natural wonders and exciting man-made sites that we have within the Philippines,” Marcos said.

He committed to help in the pandemic recovery and expansion of local tourism by listening to the sector’s suggestions and positions.

“Under this administration, the government will remain committed to ensuring that the inputs you have acquired from your listening tours will be optimized for the benefit of the sector,” Marcos said.

The World

Editor: Angel R. Calso

Blinken says China wants to seize Taiwan on ‘much faster timeline’

By Iain Marlow

CHINA has made a decision to seize Taiwan on a “much fast er timeline” than previously thought, Secretary of State Antony Blinken said on Monday, shortly after China’s leader reiterated his intent to take the island by force if necessary.

“There has been a change in the ap proach from Beijing toward Taiwan in recent years,” Blinken said in an event at Stanford University in California.

The remarks from America’s top diplomat on Monday come as China

holds its twice-a-decade Communist party congress, and shortly after Chinese President Xi Jinping used a widely-watched speech on Sunday to say the “wheels of history are rolling on towards China’s reunification” with Taiwan. While peaceful means were preferable, Xi added, “we reserve the option of taking all measures necessary.”

Blinken said China had made a “fundamental decision that the sta tus quo was no longer acceptable, and that Beijing was determined to pur sue reunification on a much faster

timeline.” He didn’t elaborate on the timing or provide other details.

Although Biden administration officials have regularly accused Chi na of eroding the balance of power in the Taiwan Strait, comments about Beijing’s intentions with regard to an invasion are less common.

Observers are highly sensitive to any remarks that might provide in sights into how senior officials in Bei jing or Washington view the potential for war over Taiwan—an event that would have enormous geopolitical and economic consequences, particularly

given President Joe Biden’s repeated pledges that the US would help defend the island.

The State Department didn’t im mediately respond to a question on Monday about whether Blinken’s comments reflected any formal as sessment that China has moved up its agenda for taking Taiwan. In March of last year, Admiral Philip Davidson, then commander of the US Indo-Pacific Command, told the Senate Armed Services Committee that China wanted to take Taiwan “during this decade, in fact, in the

next six years.”

Taiwan is the main flashpoint between the US and China. Tensions in the region have remained height ened since House Speaker Nancy Pelosi visited the island in August, prompting China to hold military exercises and fire missiles into the waters around Taiwan.

In his remarks on Monday, which came in a conversation with for mer Secretary of State Condoleeza Rice, Blinken reiterated critiques of China under Xi’s leadership, saying the country was “more repressive at

home” and “more aggressive abroad.” In his comments on Taiwan, which were made in response to a question from the audience, Blinken said China was willing to do what it takes to win over Taiwan.

“If peaceful means didn’t work, then it would employ coercive means,” he said. “And possibly, if co ercive means don’t work, then maybe forceful means to achieve its objec tives. And that is what is profoundly disrupting the status quo and creat ing tremendous tensions.”

Bloomberg News

www.businessmirror.com.ph

editorialThe key to PHL’s food security

OuT of the 113 countries included by the Econo mist Impact and Corteva Agri Science in the 2022 edition of the Global Food Security Index (GFSI), the Philippines ranked 81st in terms of agricultural research and development. The country re mained at the “very weak” score bracket due to the govern ment’s declining budget for R&D. The report noted that the Philippines’s public spending on R&D has steadily de clined since the beginning of the reporting period and that access to agricultural technology, education and resources is low (See, “PHL trails Asian peers in Global Food Securi ty Index,” in the BusinessMirror, September 22, 2022).

Overall, the Philippines ranked 67th in the GFSI and trailed be hind half of its Asian peers. The country scored low in terms of food availability and adaptability to the impacts of climate change. The report noted that the Philippines recorded its weakest performance in the Sustainability and Adaptation category due to exposure risks to the agricultural water supply, land deterioration and threats to marine biodiversity.

A country that is aspiring to become an agricultural resource hub cannot afford a business-as-usual stance, given the pressing prob lems faced by the sector. Enabling local producers to increase their output and expanding the contribution of agriculture to the coun try’s GDP amid climate change require fresh ideas. And these fresh ideas should come from local researchers who need support in the form of incentives and additional funds.

Many experts have sounded the alarm a few years ago that the Philippines is spending too little for research and development. Ac cording to the National Economic and Development Authority, the government’s budget for R&D has not even reached 1 percent of GDP. Data from the World Bank pegged the R&D spending of the country at 0.32 percent of GDP in 2018, which was lower than Costa Rica’s 0.37 percent of GDP.

This seeming aversion to R&D expenditures will eventually hurt the Philippines and make it more difficult for the country to become self-sufficient in certain food items. More importantly, the new ad ministration will not be able to achieve its goal of turning the Phil ippines into an agricultural resource hub if it fails to increase its spending for R&D efforts, which have been instrumental in allowing countries like Thailand to become a food exporter.

The United Nations has suggested that countries should allocate 1 percent of their GDP for R&D. Countries that have enough food and are considered prosperous including South Korea, Israel, Japan, Sweden, Australia, have set aside more than 1 percent of their GDP for R&D spending.

We can take a cue from these countries, particularly from agricul tural powerhouse Israel, which spent nearly 4 percent of its GDP for R&D. Despite its water scarcity problem and a small area for farm ing, Israel has managed to export agricultural products like nuts and corn. The Philippines, which has more arable lands, can produce more food not just for its residents but also for export, if the government and the private sector will spend more on R&D efforts that will help improve agricultural productivity. It would do well for our policy makers to remember that research and development is the key to the country’s food security.

Teachers and students: Welcome back!

By Cherry Dimaandal, Phd

AFTER all the challenges posed by distance learning, the teachers and students are all finally back together learning in person. Like other principals, I was delighted to see my teachers and students back in class. And it’s inspiring to hear compli ments from parents saying the teachers are once again “blooming” in their uniforms. Some teachers demonstrated how they feel seeing their students in school by creating their own “welcome dance” on TikTok. And the students gamely responded with their own TikTok moves while entering their room!

The extensive preparation and planning of the Education Depart ment to make face-to-face learning safe and welcoming is a testament to the care and commitment of our government and our teachers to bring back a normal and safe school environment after a debilitating lockdown caused by the pandemic.

Of course, the virus is still very much around. And we still can’t do without the masks, small alcohol dispensers hanging on every kid’s bag, the required hand washing, directional flow in hallways and physical distancing. But in-person learning brings about some sense of normalcy. It’s really wonderful to see shining eyes peeking over masks as students arrive in the classroom, ready for the new school year.

For the teachers, wearing a mask, which is mandatory, makes their jobs physically harder due to the strained breathing. Masks also

cover their emotional expressions, requiring students to focus harder to understand the information that the teachers want to convey.

Supplemental learning

ThE start of the school year after Co vid closures is a great time to assess the students and provide supplemen tal learning opportunities.

One big concern among teach ers, as well as parents, is how pre pared are the students coming back to the classroom after almost two years of remote learning. Some subjects may have been more dif ficult for some students to follow, which would affect the progress of their studies. Which is why we require thorough assessments on where students are facing daunt ing challenges in specific subjects, and how teachers can help them understand or comprehend their lessons better.

After almost two years of learn ing away from school, students are again donning backpacks, lugging lunch boxes, and head ing back into their classrooms. Teachers are happy to welcome them back, and parents are just as happy to see their children adapt again to a new “normal” learning environment.

One way to promote learning and help students that are lagging behind peers is with supplemental online tutoring. It is also best to en gage parents in the conversation to help the student navigate the learn ing curve faster.

A key lesson learned during the pandemic is the important role that teachers play in ensuring that learning continues among all students. As schools reopen, a lot will depend on teachers to ensure that learners will be able to con tinue their education in a safe and healthy environment. The biggest challenge for teachers is to make up for knowledge and skills that may have been lost.

Face-to-face classes boost aca demic performance and help improve the well being of students. Teachers, however, have the obligation to en sure that everybody follows school health protocols. Knowing the facts

about Covid makes teachers aware of fake information and dangerous myths about the virus that are cir culating on social media. Unfortu nately, some students might be re turning to school from households where they heard false information about Covid.

Teachers, students and campus workers need to be protected from Covid-19 to keep schools open. The best way to do this is to encourage all teachers and school staff to get their vaccination and boosters. Zero Covid case for communities hosting a school must be maintained.

For parents, the return to school of their children will also be a time of significant change. As they have been at home with their children for an extended period of time, parents are likely to have their own set of worries about face-to-face classes. Feelings of anxiety are understand able and normal under the current circumstances.

After almost two years of learn ing away from school, students are again donning backpacks, lugging lunch boxes, and heading back into their classrooms. Teachers are happy to welcome them back, and parents are just as happy to see their children adapt again to a new “normal” learn ing environment.

The author is Principal 3 at Ballesteros National High School in Ballesteros, Cagayan.

US-led talks near deal on tackling Sudan’s post-coup crisis

By Simon Marks & Mohammed Alamin | Bloomberg Opinion

SuDAn’S military and a group of political opponents are close to a deal that aims to resolve the crisis caused by last year’s coup by restoring a civilian prime minister and guaranteeing the army some independence, according to people familiar with the se cret uS-brokered discussions.

Talks in recent weeks, also facili tated by Saudi Arabia, the United Arab Emirates and the UK, have seen the army and the country’s most powerful militia hold direct negotiations with members of the Forces for Freedom and Change, a major opposition coalition, ac cording to the people, who include diplomats.

Last October’s putsch derailed hopes for democracy in Sudan, where long-time dictator Omar al-Bashir was overthrown in 2019 amid na tionwide demonstrations. Restoring elements of civilian rule could unlock billions of dollars of frozen Western aid key to the shattered economy, but

the non-involvement of labor unions or resistance committees, the driver of post-coup protests, raises doubts over whether the deal will win popu lar support.

The talks arranged by the socalled “Quad” of countries, mainly held at the residence of Sudan’s army leader, Abdel Fattah al-Burhan, also have buy-in from several political parties, the people said. They asked not to be identified as they aren’t authorized to speak publicly.

A spokesman for the FFC coali tion, Shihab Ibrahim, confirmed a quartet of nations had facilitated talks with a military delegation in cluding al-Burhan and his deputy,

Under the suggested deal, the army would agree to a non-mil itary head of state and a prime minister chosen by civilians. The pact would provide some form of independence and immunity from prosecution for the military, concessions that would roll back commitments made in a consti tutional document written after Bashir’s fall.

Mohamed h amdan Dagalo, who leads the Rapid Support Forces mi litia.

‘Civilian-led government’

ThE deal being drafted may help enable the “formation of a broadly acceptable and inclusive civilianled transitional government,” the US State Department said in an emailed response to questions. “What Sudan’s democracy looks like is for the Sudanese people to determine,

but they have been clear in its core tenets: it must be civilian-led and provide justice, prosperity, and peace. Military rule is not and will not be sustainable.”

An army spokesman declined to comment and representatives for Saudi Arabia and the UAE didn’t respond to requests for comment.

A spokesman for the British em bassy said the UK was “supporting Sudanese-led efforts” to reach a credible political agreement for a civilian-led government as soon as possible, but isn’t mediating. It didn’t elaborate.

Under the suggested deal, the army would agree to a non-military head of state and a prime minister chosen by civilians. The pact would provide some form of independence and immunity from prosecution for the military, concessions that would roll back commitments made in a constitutional document written after Bashir’s fall.

“US-led,”

Ambassador Antonio L. Cabangon Chua

Truss sees UK vision dismantled as rivals fight for her job

By Alex Wickham, Kitty Donaldson & Joe Mayes Bloomberg Opinion

uKPrime Minister Liz Truss was clinging to power on Mon day after suffering the abject humiliation of being forced to u-Turn on much of the economic program she announced only last month.

The premier watched on in the House of Commons as Chancellor of the Exchequer Jeremy Hunt, the former leadership rival she in stalled to rescue her premiership, dismantled much of what was left of her Sept. 23 “Growth Plan.” She later apologized for her mistakes in a BBC television interview.

The astonishing reversal—de signed to bring stability to the financial markets after weeks of turmoil —leaves Truss in office but toothless and unable to proceed with the tax-cutting platform that won her the Conservative Party leader ship contest.

Now, even the premier’s clos est supporters are asking how long her leadership can last, ac cording to ministers and aides in her government, who asked not to be named discussing her future.

Truss is braced for further chal lenges to her authority in coming days, they said.

However, both Truss allies and internal opponents expressed doubts that she could be removed as soon as this week. Only five Tory MPs have publicly called for her to quit, and some two-thirds would need to do so for Conservative lead ership rules to be changed. She’s currently protected for her first year of office.

“I’m sticking around because I was elected to deliver for this coun try,” Truss told the BBC late on Mon day. “I will lead the Conservatives into the next general election.”

Premier ‘not under a desk’ HUNT ’S statement followed Truss’s sacking three days ago of his prede cessor, Kwasi Kwarteng, in a desper ate bid to stay in power.

The prime minister earlier failed to turn up in the chamber to an swer an urgent question from the opposition Labour Party to explain the previous finance minister’s dis missal. Instead, she left it to Leader of the House of Commons Penny Mordaunt—another vanquished opponent from this summer’s Tory leadership contest—to parry ques tions.

Mordaunt showed her party what they’d missed out on, shooting barbs at Labour, apologizing for the events leading up to Monday’s policy reversal, and at one point memora bly saying of Truss’s absence: “The prime minister is not under a desk.”

A smiling Truss entered the cham ber toward the end of Mordaunt’s ap pearance, and stayed for about half an hour, watching Hunt’s ensuing statement.

A person familiar with the mat ter said she’d been absent earlier because she was holding a meeting with Graham Brady, the influen tial chairman of the Tory Party’s 1922 Committee of backbench MPs, which controls leadership rules and challenges. While the meeting was described as pre-planned, it will have been a useful gauge for Truss of her standing, because Brady is attuned to the mood of the Parlia mentary party.

Dire polling

T RUSS later held a meeting with the One Nation Conservatives, a caucus of centrist MPs who her team regards as the biggest threat to the premier. Simon Hoare, one of the MPs present, said Truss was apologetic for mistakes that had been made and that no one in the meeting had suggested to her that she should stand down. She later apologized on national television.

“I do want to accept responsibil

If there’s hope for Truss, it lies in the fractured Tory opposition to her, with little sign of her rivals coalescing around a replacement. The camps of two potential suc cessors descended into infighting on Monday amid claims and counter-claims about clandestine plotting.

ity and say sorry, for the mistakes that have been made.” Truss told the BBC. Asked if she felt “humiliated,” she replied: “It hasn’t been perfect. It’s been a difficult time.”

Speaking ahead of a private re ception with her cabinet that Truss was due to host on Monday night, a cabinet source said there was no sense yet that ministers were immi nently turning against her.

Nevertheless, the mood in the party is funereal, amid dire polling that’s given Labour huge leads— with a Redfield and Wilton Strate gies survey on Monday putting the opposition 36 points ahead—the biggest lead for any party in 25 years.

If there’s hope for Truss, it lies in the fractured Tory opposition to her, with little sign of her rivals co alescing around a replacement. The camps of two potential successors descended into infighting on Mon day amid claims and counter-claims about clandestine plotting.

Rishi Sunak, the former chancel lor of the exchequer, was contacted in recent days by a senior Tory MP on behalf of Mordaunt, a person famil iar with the conversation said. The MP made Sunak a formal offer to form a unity ticket to replace Truss, but Sunak told them he wouldn’t en tertain it, the person said. An ally of Mordaunt said the approach was not made with her authority.

The revelation casts doubt on whether Sunak and Mordaunt would be able to agree on a joint ticket, fol lowing speculation in Westminster that some MPs were seeking a coro nation to avoid another protracted leadership contest.

Hunt S EPARATELY, several Tory MPs from different factions said they had received personal text mes sages in recent days from Sunak in what they saw as the clearest sign yet that he’s seeking to build support for another tilt at No. 10.

A source close to Sunak denied he was involved in discussions about replacing Truss.

One minister compared Truss’s position to the final weeks of her predecessor, Boris Johnson’s admin istration, when he clung onto power but it became inevitable there would be another crisis that proved fatal.

Another major flash point in the coming days or weeks would make the pressure on Truss to resign un bearable, the minister said.

Some Tory MPs watching Hunt’s announcement—which included cutting short a government pro gram to subsidize domestic energy bills said it could cause more prob lems down the track. One MP said that thousands of Tory swing vot ers could now see both their mort gages and energy bills increase by thousands of pounds in 2023, re sulting in an “electoral black hole” that would guarantee defeat at the next election.

One bright spot for Truss: Hunt’s elevation had spurred speculation that he too could aspire to succeed her. But late on Monday, he told Sky News “I rule it out, Mrs. Hunt rules it out, three Hunt children rule it out.”

Dr. Jesus Lim Arranza MAKE SENSE

I decided to write about the Huaren Society to make people aware of what they’ve been do ing, although their leaders would prefer that they just continue pursuing their advocacies away from the spotlight.

neighboring nations. They wish to open more economic and diplomat ic channels between the peoples of China and other Asian countries, and hopefully create new opportunities for cooperation in multiple fields.

During

my formative years, it used to baffle me every time my father would write letters and put some cash into them before sealing the envelope. i also wondered who the recipi ents were. Later on, i found out that those letters were being sent to his relatives in China, right around the time that the Mainland was still reeling economically from the effects of the civil war.

It was my father’s way of support ing the relatives he left behind in China, and he wasn’t actually alone doing that.

Several Huaren—or people of Chinese ethnicity that migrated to other countries like the Philippines and its Southeast Asian neighbors— also continued to send money to their relatives in the Mainland, which, by extension, supported the Chinese economy as well at that point in history when China was still being generally referred to as the Sleep ing Giant.

Remember that the Chinese came to our country long before the Span iards, Americans, and Japanese set

foot on our land and conquered our nation.

Since then and up to the time the Chinese civil war ended in 1949, many of the Chinese who came to the Philippines decided to live here with their families. This is why many Huarens were born here and died in the country—and those that are still alive will also probably die here.

Unlike other nationalities that came here to conquer us, these peo ple with Chinese blood came to the Philippines to do business and live peacefully side by side with Filipinos.

This continued up to the present.

In fact, many of them today have grouped themselves and formed the

Huaren Society in the country. They are businessmen, executives, politi cians, and professionals from dif ferent sectors who are still quietly doing their share to promote peace and prosperity in the country.

They managed to integrate them selves into the Philippine society and assimilate our culture; they are unquestionably Filipinos in mind, heart, and deeds.

Simply put, started as the coun terparts of our overseas Filipino professionals.

Their other goal, of course, is to foster good relations between Beijing and Asean governments amid ten sions being created by the South Chi na Sea dispute, among other issues.

This is why the Huaren Society in the country has started contact ing other Huaren organizations in the Southeast Asia and other parts of Asia so they can schedule a trip to Beijing with the hope of serv ing as ambassadors of peace for the

Huaren: ‘Overseas Chinese’ quietly doing their share to foster peace, prosperity Russian role in Burkina Faso crisis comes under scrutiny

Also, in my recent meeting with the leaders of the Huaren organiza tion in the Philippines, they voiced their concern over the spate of kidnapping and other violent and illicit acts connected to the Philip pine Offshore Gaming Operators. They expressed their readiness to help the government in whatever way possible in the different fields they are in.

I decided to write about the Hua ren Society to make people aware of what they’ve been doing, although their leaders would prefer that they just continue pursuing their advoca cies away from the spotlight.

As Paul said in his letter to the Ro mans (13:7): “Render to all their dues: tribute to whom tribute is due; cus tom to whom custom; fear to whom fear; honor to whom honor.”

Dr. Jesus Lim Arranza is the chairman of the Federation of Philippine Industries and Fight Illicit Trade; a broad-based, multisectoral movement intended to protect consumers, safeguard govern ment revenues and shield legitimate industries from the ill effects of smuggling.

By Sam Mednick | The Associated Press

OuAgADOugOu,

Burkina Faso—Within hours of Burkina Faso’s second coup this year, the head of russia’s shadowy mercenary outfit Wagner group was among the first to con gratulate the new junta leader in West Africa.

In a message posted on Telegram, Yevgeny Prigozhin praised the mu tinous soldiers for doing what “was necessary.”

That same day, pro-Kremlin po litical analyst Sergei Markov posted that the Russian people had helped Capt. Ibrahim Traore, the new coup leader. And he predicted that Burkina Faso’s new leadership would turn to Russia for help instead of former colonizer France.

As Traore now solidifies his grip on power in Burkina Faso, questions are already swirling about his rela tionship with Russia and how much it played a hand in catapulting him and his allies to power.

The recent coup “could be a gate way to a more assertive Russian pol icy towards the Sahel,” said Samuel Ramani, associate fellow at the Royal United Services Institute, a defense and security think tank.

“The Burkina Faso coup that we just witnessed could be the first ex ample of Russia playing a part in instigating a coup rather than just capitalizing on pre-existing unrest,” Ramani said.

Asked about the coup in a call with reporters earlier this month, Kremlin spokesman Dmitry Peskov wouldn’t comment on prospects of establishing ties with the country’s new leaders.

And the Kremlin denies links to the Wagner Group, though Western analysts call it a tool of Russian Presi dent Vladimir Putin.

Wagner Group mercenaries al ready have been establishing a foothold for Russia in at least half a dozen African countries, including in Central African Republic, Sudan and Mali, which is battling an insur

US-led . . . continued from A14

Army concessions

A PROPOSED new transitional con stitution drafted by the Sudanese Bar Association has been used as a starting point for the deal, although elements such as concessions to the army have been added. A draft of the association’s document ob tained by Bloomberg also envisages that Dagalo’s RSF militia be folded

gency similar to the one in Burkina Faso that has killed thousands and displaced some 2 million people.

The group has been accused of committing human rights abuses. Earlier this year, it was linked to at least six alleged civilian massacres and the extrajudicial killings of 300 people in Moura village in Mali, ac cording to the Africa Center for Stra tegic Studies.

“What we observe is that else where in Africa today there are wor rying deployments of the Wagner militias, and we have been able to see on the ground that the effects of these militias lead to abuses of the population – we saw crimes that un folded in Mali, in the Central African Republic, in Mozambique — also the pillaging of natural resources, and most of all, zero effectiveness in the fight against terrorism,” said AnneClaire Legendre, the French foreign ministry spokeswoman.

France, which has had troops in the region since 2013 when it helped drive Islamic extremists from power in northern Mali, is facing growing pushback from populations who say its presence has yielded little results amid esca lating jihadi violence. In the wake of Burkina Faso’s latest coup, the French Embassy and the French Institute in the capital, Ouagadou gou, were attacked by protesters waving Russian flags.

It’s unclear what role, if any, Russia played in orchestrating last month’s coup or if it just capitalized on the unrest. However, people with close ties to the military ruling party said pressure had been mounting on the first coup leader, Lt. Col. Paul Henri Sandaogo Damiba, for months

into the regular army. The US State Department confirmed the bar as sociation’s document was driving the talks.

The US-led talks opened up an other track of negotiations outside one organized by the United Nations, African Union and the Intergovern mental Authority on Development, a regional bloc. There have been public statements in recent days suggest ing a Sudanese deal is in the offing.

The UN special envoy to Sudan, Volker Perthes, told Al-Arabiya

It’s unclear what role, if any, Rus sia played in orchestrating last month’s coup or if it just capital ized on the unrest. However, people with close ties to the mili tary ruling party said pressure had been mounting on the first coup leader, Lt. Col. Paul Henri Sandaogo Damiba, for months to work more closely with Russia.

to work more closely with Russia.

Traore and other officers had urged Damiba to work with more partners, notably Russia, but Da miba refused, a junta member who spoke on condition of anonymity for his safety told The Associated Press.

Traore did not respond to mul tiple attempts for comment. In an interview with Radio France Inter nationale last week he played down questions about turning to Russia and said Burkina Faso had already been partnering with Moscow.

“I don’t see what’s so special about seeing a Russian flag being waved in Ouagadougou,” he told RFI.

Mamadou Drabo, executive secre tary for Save Burkina, a civil society group that supports the junta, said he tried to mediate tensions for weeks before the coup because soldiers were upset at the lack of progress in stemming the violence. One of the biggest grievances was that Damiba wasn’t securing enough equipment, such as helicopters, which junta members wanted to buy from Rus sia since France wouldn’t give them any, he said.

Despite the Wagner Group’s controversial track record in other countries, people are so desperate for change they’re willing to take the chance, he said.

“If today we say that we don’t want Wagner then how long are we going to stay in this war?” Drabo said. “We don’t want Burkina to be turned into Somalia.”

After Damiba overthrew the dem

television last week that political factions had “achieved common understanding” over forming a transitional civilian government with elections planned within two years.

Meanwhile, Finance Minister Gibril Ibrahim told Bloomberg in an interview in Washington that discussions aimed at implementing a “broad-based, inclusive govern ment” were under way and the mili tary was committed to withdrawing from politics. “Hopefully we will

ocratically elected president in Janu ary, he asked Burkinabes to give him until September to show results in the fight against Islamic extremists.

His government created an overarching command center to strengthen coordination and set up local dialogue committees aimed at getting jihadists to lay down their weapons. Burkina Faso’s military acquired three combat helicopters and drones, but the security situa tion still deteriorated.

The number of people killed be tween the end of January and Sep tember, when Damiba was in power, rose more than 100 percent from the same time last year—1,545 to 3,244 people killed—according to the Armed Conflict Location & Event Data Project.

Last month, a transport convoy going to the besieged town of Djibo was ambushed by jihadis who killed at least 37 people, the majority of them soldiers. The attack is widely believed to be what led to Damiba’s undoing and his resistance to stron ger collaboration with Russia also played a role, say civil society groups and junta members.

But many civilians and analysts think talk of greater Russian involve ment is overblown. Even if Burkina Faso wanted Russian help, it’s unclear if it would be possible given that Rus sia is struggling to find soldiers for its war in Ukraine.

“In the absence of a promised deployment it’s not certain that (Traore) would take steps against the French forces,” said Andrew Lebov ich, a research fellow at the Clingen dael Institute, a Dutch think tank.

Many in Burkina Faso, wary of years of foreign intervention, say that regardless of who steps in noth ing will change.

“Whether it’s Russia or France or someone else, they all want the same thing: control and influence,” said Ousmane Amirou Dicko, a tra ditional leader known as the Emir of Liptako. Associated Press writer Jeffrey

reach an agreement, not between the activists and the military, but among the political formations in the country,” he said.

The coup spurred Western donors to suspend aid, contributing to a funding crisis for Sudan’s economy.

The International Monetary Fund forecasts Sudanese real gross do mestic product will contract 0.3% this year, before expanding 2.6 per cent in 2023. With assistance from Abeer Abu Omar, Zainab Fattah and Matthew Martin / Bloomberg.

DOH logs 1st cases of XBB,  XBC Omicron subvariant

By Claudeth S. Mocon-Ciriaco @claudethmc3

“Mula po sa Singapore Minis try of Health, wala pa pong sapat na ebidensya ang magpapatunay na nagdudulot ng mas malubhang sakit ang panibagong (XBB) sub variant na ito [According to the Singapore Ministry of Health, there is still no substantial evidence that XBB subvariant can cause severe illness],” she said.

Vergeire also said the DOH has yet to determine if there is com munity transmission of XBB and XBC cases in the country.

and frequent handwashing contin ues to protect us. However, with the potential increase in trans missibility of the VOCs (variants of concern), the likelihood of get ting infected and passing on the virus during breaches in MPHS (minimum public health stan dards) practice increases as well,” she said.

SC SETS ORALS ON CASE VS BGAY, SK POLL RESET

By Joel R. San Juan @jrsanjuan1573

THE Supreme Court on Tuesday acted immedi ately on the petition filed seeking to declare unconsti tutional the postponement of the Barangay and Sangguniang Kabataan (SK) elections and de cided to set it for oral arguments.

the Comelec to continue its prepa rations for the December 5, 2022 election of barangay officials.

In his petition, Macalintal argued that Congress has no power under the Constitution to postpone the barangay elec tions because such power exclu sively belongs to the Comelec.

At a news briefing, DOH Of ficer-in-Charge Undersecretary Maria Rosario Vergeire, however, stressed that despite the detection of the new subvariants, the country remains to be at low risk case clas sification and hospitalization rates remain manageable.

“Severe and critical cases and ICU admissions nationally now on a plateau,” she said.

Vergeire said 81 cases of XBB were detected in Western Visayas and Davao Region.

She added that 70 of these cases have already recovered, eight are still undergoing isolation, while the status of the three others is still be ing verified. None of them died.

XBC VERGEIRE said that 193 cases of

XBC variant were also recorded in the country.

Of these, Vergeire said 176 have recovered, three are still undergo ing isolation, five patients have died, while the DOH is still veri fying the condition of nine other patients.

She said XBC cases were de tected in Cagayan Valley, Western Visayas, Central Visayas, Davao Region, Soccsksargen, Calabar zon, Mimaropa, Bangsamoro Autonomous Region in Muslim Mindanao, Caraga, Cordillera Ad ministrative Region, and National Capital Region.

Severe illness

VERGEIRE said that there is still no substantial evidence if XBB could cause severe illness.

“ . . . Kasi wala pa tayong sapat na ebidensya,” [Because we don’t have enough evidence],” the DOH official said, adding, “What we can say right now, because there are this number of XBB and XBC, it’s part of the lo cally transmitted variants already in the country.”

Protection

“FAST-TRACKING vaccine deploy ment and ensuring adequate health system capacity shall minimize im pact on admissions and health care utilization,” Vergeire said.

Vergeire said that layers of pro tection available remain to be effec tive against Covid-19 “regardless of its variants.”

“Practice of minimum public health standards -masking, physi cal distancing, good ventilation,

While effectiveness of vaccines in preventing infection may wane due to the potentially immune-es cape characteristics of the VOCs, Vergeire stressed that vaccines re main effective against preventing severe symptoms and deaths.

She advised the public to get their booster shots “as vaccines remain to be one of our major pro tective measures.”

“Vaccination continues to be ef fective and is still the best defense against severe and critical Cov id-19, regardless of the variant. So long as there is transmission, new variants will naturally continue to emerge. Hence, to prevent the emer gence of new variants, we must all work  together to limit transmis sion,” she explained.

Vergeire assured the public that the DOH, along with other govern ment agencies, continues to imple ment the four-door strategy against Covid-19.

The petition, filed Monday by election lawyer Romulo Ma calintal, mounted a legal chal lenge to Republic Act 11935, signed into law a few days ago, resetting this year’s December elections to October 2023.

The conduct of an oral argu ment on Macalintal’s petition was agreed upon by the 15-man High Tribunal during its regular en banc session on Tuesday.

Likewise, the magistrates required respondents Commis sion on Elections (Comelec) and the Office of the President to file their comment to the pe tition not later than 12 noon on Friday (October 21, 2022), through personal service.

In his  petition, Macalintal also sought the issuance of a tem porary restraining order and/or a writ of preliminary mandatory injunction to enjoin Comelec and the Office of the President from implementing RA 11935.

Macalintal also asked the Court to issue an order directing

“The Constitution gives Congress the power to deter mine or fix the term of office of barangay officials. Clearly, the Constitution does not give Congress the power to ‘post pone’ the barangay elections nor to extend the term of of fice of the barangay officials,” Macalintal argued.

At the same time, the peti tioner said postponing the con duct of barangay elections would also violate the constitutional right of the people to due process since they are effectively “forced to accept” the appointed officials under RA 11935 upon the expi ration of their term in December 2022, without hearing or notice.

He stressed RA 11935  vio lates  the 1987 Constitution which provides that barangay officials must be elected into office, not appointed.

By extending the term of of fice of barangay officials, RA 11935 violates the principle that the term of said officials should not be longer than their superiors, Macalintal said.

IPOPHL’s pact with e-commerce firms billed ‘best practice’

By Andrea E. San Juan

THE e-commerce Memoran dum of Understanding (MOU) of the Intellectual Property Office of the Philippines (IPOPHL) has been cited as a “best practice” in cultivating trust online to deter illic it alcohol trade in the Asean region.

The report titled, “Tackling Il licit Alcohol in Southeast Asia” which was published in September 2022 by the Transnational Alliance to Combat Illicit Trade (TRACIT), cited the e-commerce MOU as an example that Asean members could copy to combat counterfeit alcohol online.

According to the TRACIT re port which was coauthored by the Asia Pacific International Spirits & Wines Alliance, the Alliance Against Counterfeit Spirits and the EUAsean Business Council (EU-ABC), putting in place enforcement mea sures online will be vital as e-com merce is seen to fuel illicit alcohol to $4 trillion in 2022.

Among the report’s recommen dations to build consumer trust and awareness online, it cited the IPOPHL’s MOU with e-Commerce platforms, noting that “this ini tiative brings together eCom merce platforms and IP owners, establishing a code of practice among online marketplaces and an efficient notice and takedown procedure which aims to inten sify the fight against the sale of counterfeit/pirated goods over the internet.”

Further, the report noted, the MOU commits platforms to respond

in a timely manner, and IP owners commit to taking swift Notice & Takedowns steps in attempt to stop counterfeits at source.

The TRACIT report stressed that this is the second MOU in the region after Thailand signed a similar one in January 2021.

The MOU is an agreement among 18 e-commerce platforms, brand owners, and industry groups to curb counterfeiting and piracy online.

In May, the MOU had led to heightened removals of IP-infring ing posts. Representatives from Lazada, Shopee, Zalora, Golden ABC, Globe Telecom, GlaxoSmith Kline and Solar Pictures presented their achievements under the MOU.

For instance, Lazada, an  inter national e-commerce platform, established a trust-building aware ness campaign through their “Sure Ka Sa Lazada” that guarantees that products are legitimate.

Meanwhile, IPOPHL said Shopee updated their IP process with tighter sanctions and new algorithms that target copied listings.

Aside from these platforms, IPOPHL said other signatories include the American Chamber of Commerce of the Philippines (AmCham), British Chamber of Commerce of the Philippines, Euro pean Chamber of Commerce of the Philippines and Philippine Retail ers Association.

The TRACIT report also warned that the Asean “is estimated to be the region with the highest con sumption of unrecorded alcohol by 2025.”

In fact, according to the World Health Organization (WHO), in 2016, 63 percent of annual per capita alcohol consumption in Vietnam was unrecorded, 62 percent for In donesia, 44 percent for Malaysia, 31 percent for Philippines and 20 percent for Thailand.

With this, as chair of the Asean Network of IP Enforcement Experts (ANIEE), IPOPHL Deputy Director General Teodoro C. Pascua said the Philippines will work closely with Asean’s Customs Enforcement and Compliance Working Group (CE CWG).

“ANIEE will draft a work plan this year with the CECWG on in formation sharing and capacitybuilding to help customs authori ties distinguish counterfeit from original products. We aim to help customs authorities across Asean adopt best practices in monitoring and intercepting counterfeit goods across the supply chain,” Pascua said, noting that ANIEE will be engaging Asean’s foreign partners from the private sector for the ac tivities.

For his part, Asean Working Group on IP Cooperation (AWGIPC) Chair and IPOPHL Director General Rowel S. Barba said, “The private sector is critical as they know how best to distinguish their products from fakes. As imitation techniques of counterfeiters have been increas ingly more sophisticated, working hand in hand with the private sector through information sharing would make possible the early detection of counterfeits.”

Comelec cuts budget plea for ‘23 BSKE polls by

FOLLOWING the Senate’s re jection of its proposed P10billion additional budget for the rescheduled Barangay and Sangguniang Kabataan Elections (BSKE), the Commission on Elec tions slashed over P7 billion from the said amount.

In an interview on Tuesday, Com elec Chairman George M. Garcia said they will now be asking only at least P2.7 billion in additional budget for

the conduct of the election next year.

“Of course, this will mean some sacrifices. We would have to in crease the number of voters per precincts, and we will have to forego the procurement of some supplies,” Garcia said.

Under Republic Act 11935, the 2022 BSKE, which has an allocated budget of P8 billion, will be reset to October 2023.

Comelec sought an additional

P10 billion for the exercise, but it was denied by Senator Imelda “Imee” R. Marcos for being exces sive during a hearing on Monday.

Garcia said they may ask for more funding depending on the result of the resumption of their voter regis tration in the last week of November up to the end of May next year.

In the May 2022 polls, Comelec registered over 65.75 million voters nationwide. Samuel P. Medenilla

THE Department of Health (DOH) on Tuesday confirmed the detection of Omicron XBB and XBC subvariant of the Covid-19 virus in the country.

Companies

Bad weather, rising costs dent Atlas Mining income

By VG Cabuag @villygc

Power spot prices up in September

AtlAs

Consolidated Mining and Development Corp. said its in come for the three quarters of the year ending september 30 fell 12 percent to P3.07 billion from the previ ous year’s P3.47 billion.

Atlas Mining’s wholly-owned subsidiary, Carmen Copper Corp., reported that its copper metal pro duction during the period declined to 54.82 million pounds from 64.09 million pounds in 2021.

In the third quarter alone, mill ing tonnage decreased by 11 per cent to 12.6 million tons from 14.22 million tons last year.

“The reduction in copper metal production was mainly due to in

clement weather experienced dur ing the first four months of the year and this quarter,” the com pany said.

Copper grades decreased by 3 percent to 0.238 percent from 0.246 percent. Gold production de clined by 13 percent year-on-year to 16,923 ounces from 19,562 ounces also due to lower gold grades--from 5.38 grams per dry metric ton (dmt) to 5.36 grams/dmt.

Copper metal content of con centrate shipped went down by 12 percent to 56.9 million pounds and gold content slid by 11 percent to 16,377 ounces from 18,415 ounces.

Metal prices remained low in the third quarter, as the price of copper fell by 2 percent to $4.15/lb from

$4.22/lb but the price of gold rose by 1 percent to $1,827 per ounce from $1,803 per ounce last year.

e arnings before interest, tax, depreciation and amortization for the three quarters reached P4.37 billion, or almost half of last year’s P8 billion.

“Operating cost was adversely affected by higher energy and fuel prices, and higher waste charged to operations,” it said.

Cash generated from operations improved which enabled the addi tional loan payment of $74.6 mil lion of Atlas Mining’s loans on the three quarters of 2022. With the partial repayment of loan, an ac counting gain of P1.45 billion was recognized in the third quarter.

DMCI declares special dividends

The board of DMCI holdings Inc. has approved the decla ration of P0.72 per common share in special cash dividends for shareholders on record as of No vember 2.

The ex-dividend date will be on October 27, while payment will be made on November 16, the com pany said.

Last April, DMCI paid its eligible shareholders a total of P0.48 per common share in regular and special cash dividends.

With this October declaration, DMCI’s total dividend payout for the

year will be P1.20, 25 percent more than the P0.96 in total dividends declared last year. The total payout translates to a cash dividend yield of 11.32 percent based on its October 17 closing price of P10.60.

In all, DMCI will end the year with P15.9 billion in dividend payments to its shareholders, which represent 92 percent of the company’s consoli dated core net income in 2021.

DMCI holdings has a dividend policy that commits to a dividend payout ratio of at least 25 percent of the preceding year's consolidated core net income.

For the first half, DMCI said it re corded a net income of P20.29 billion, more than double than the previous year's P9.48 billion on elevated com modity prices and the strong perfor mance of its subsidiaries.

From April to June, DMCI's prof its rose 73 percent to P9.03 billion from last year's P5.2 billion, largely driven by higher coal, electricity and nickel prices, coupled with higher revenue recognition from its real estate business.

Core net income during the same period grew at a faster rate at 113 percent to P9 billion from P4.2 bil

lion, after excluding nonrecurring gains of P37 million this year and P1 billion last year relative to the re-measurement of deferred tax li abilities as a result of CR e AT e law.

The company said it has already outperformed its 2021 full-year net income of P18.4 billion.

“We had a very strong first half because of elevated market prices.

If the current trend holds till Oc tober, we hope to declare another round of special dividends for our shareholders before year-end,” said DMCI chairman and President Isidro A. Consunji. VG Cabuag

Teleperformance taps RE from Aboitiz

deploys

sites in Mindanao

GLObe Telecom Inc. said on Tuesday it added 252 5Gready cell sites in Mind anao, scaling up its deployment of 5G wireless technology in the Philippines.

With this, Globe’s 5G network now reaches 85.8 percent of key cities in Visayas and Mindanao. In the National Capital Region, its 5G outdoor penetration is at 96.6 percent.

Across the Philippines, 5G traf fic on Globe’s network rose by 73.4 percent in the first half of the year.

“We continue to invest in the latest mobile technologies like 5G as part of our commitment to bring better mobile experiences that can uplift the lives of our customers no matter where they are in the coun try,” Globe head for Consumer Mo bile b usiness Darius Delgado said.

Globe has allocated P89 billion for its capex program this year to build more cell sites, upgrade exist ing ones, deploy 4G and 5G radios, and add more fiber lines across the country.

As of the first half, Globe has spent P50.5 billion in capex, sur passing the amount in the same period last year by 17 percent. The end-June expenditures were most ly invested in its network. Globe expects that the number of 5G de vices serviced by Globe’s network will continue to increase, coming from a 52.6-percent rise in the first half to 2.7 million devices. Lorenz S. Marasigan

AbOITI z Power Corp.'s retail electricity supply company, Advent e nergy Inc., will supply renewable energy (R e) to outsourcing firm Teleperformance Philippines to initially power the latter’s bacolod and Sucat offices.

Advent energy was tapped for its Cleanergy, the power firm’s R e solutions brand that supplies com munities and businesses with power derived from run-of-river, large hy dro, solar, and geothermal.

Teleperformance said they plan to switch more offices to Cleanergy in the future.

“As a business process outsourc ing (bPO) company, we are proud to contribute to the country’s growth by providing thousands of jobs to career-seekers,” Teleperformance Philippines CeO Francisco Lara said.

With over 57,000 employees in 23 business sites across the coun try, Teleperformance is among the Philippines's most prominent bPO

companies, helping contribute to the economy's growth. With this switch, Lara shared they could leave their mark as one of the first bPOs in the nation to use R e in their op erations.

bPOs consume energy around the clock, making the switch more sig nificant as this is considered a step toward decarbonizing a key sector of the Philippine economy.

“We hope this action will inspire other bPOs in the country to be as environmentally conscious and con sider switching to R e ,” Lara added.

AboitizPower Senior Vice Presi dent for Commercial Operations Sandro Aboitiz said the transition to a cleaner energy future involves the convergence of many things, among which are the choices con sumers make, supportive govern ment policies, and the participation of industry players.

“This partnership with Teleper formance affirms our efforts to em

phasize the impact retail electricity customers have in preserving the environment through the kind of energy they choose,” he said.

“We are happy that through the Department of energy’s Green en ergy Option Program (GeOP), we can collaborate with various industries under a long-term goal of achieving business sustainability and energy security through Cleanergy.”

The GeOP is a scheme that em powers consumers by allowing them to choose R e as their source of elec tricity. The government said this would help the country achieve en ergy independence by reducing the reliance on imported energy sources, such as fossil fuels.

Aboitiz has allotted P190 billion to expand its R e portfolio to 4,600 MW or threefold its current capac ity by 2030. This investment will help address the market's growing demands and contribute to manag ing climate-related risks. Lenie Lectura

By Lenie Lectura @llectura

The Independent electricity Market Operator of the Phil ippines (IeMOP) said Tuesday the average electricity market price in September for Luzon and Visayas was recorded at P9.12 per kilowatt hour (kWh) as compared to the pre vious month’s P7.26/kWh.

After accounting for all bilateral and spot market transactions, the ef fective settlement price for Septem ber stood at P9.16/kWh, the highest for the year.

During an online briefing, official said average demand rose by 1.47 percent or 154 megawatts (MW) to 10,639 MW, while average supply was reduced by 4.73 percent or 675 MW to 13,599MW due to generator outages.

Last month, the National Grid Corporation of the Philippines (NGCP) declared the Luzon grid under red alert status due to major generation inadequacy. A total of 3,401MW were on unplanned out age, and three generating units had a total deration of 226MW. Derated plants are those that are not operat ing at full capacity.

For September, total generation

from diesel plants accounted for 220 gigawatt hours (GWh), or 2.9 percent of the generation mix, com pared to the production of 93 GWh last August.

For coal power plants, the contri bution for September is 4,434 GWh (57.6 percent), natural gas at 1,407 GWh (18.3 percent), geothermal at 772 GWh (10 percent), hydro plants at 582 GWh (7.6 percent), variable re newable energy resources (solar and wind) at 172 GWh (2.8 percent), bio mass plants at 67 GWh (0.9 percent), and battery energy storage systems at 2 GWh (0.03 percent).

During the briefing, IeMOP also launched its advocacy for the “effi cient Use of energy Towards Produc tivity." This advocacy is in line with the market operator’s thrust to raise awareness towards the efficient use of electricity to help lower the de mand not only during peak hours but also during off-peak hours without sacrificing productivity which stimu lates economic growth.

Lowering demand will redound to the reduction in the utilization of expensive fossil fuels in the grid. This can also result in a reduction in mar ket clearing prices in the Wholesale electricity Spot Market which would be advantageous to consumers.

Photo

AboitizPower’s

BSP eases rules for buying CB securities

By Cai U. Ordinario @caiordinario

THE Monetary Board will now allow trust entities (TEs) to purchase Bangko Sentral ng Pilipinas (BSP) securi ties through unit investment trust funds (UITFs) with minimal nonresident funds.

Currently, the BSP allows TEs to invest in Central Bank Securi ties through UITFs provided there are no non-resident participants (including foreign banks and overseas Filipinos) invested in their UITFs.

Under the new regulations, however, TEs may purchase BSP Securities in the secondary mar ket for any UITF in which the share of net assets of non-resi dents does not exceed 10 percent of the net assets of the fund.

“Expanding the coverage of participants in the secondary market trading of BSP Securi ties enhances the BSP’s capabil ity to absorb liquidity and helps transform the BSP Securities as a primary tool for liquidity manage ment,” BSP said in a statement.

“The measure is also aimed at ensuring the tradability and via bility of BSP Securities as a highly liquid instrument, thus allow ing for better price discovery and monetary policy transmission,” it added.

The amended regulation, the BSP said, supports its prevailing monetary policy stance to in crease liquidity absorption amid an elevated inflation environ ment, consistent with the BSP’s exit from monetary accommoda tion measures in response to the pandemic.

With this, the BSP said it will closely monitor the sources of funds placed by trust entities in the BSP’s facilities through pe riodic supervisory reporting re quirements.

The BSP may also revisit the access of trust entities with nonresident funds to the secondary market for Central Bank Securi ties depending on the results of its periodic monitoring and in line with the prevailing stance of monetary policy and correspond ing liquidity management strate gies.

The Central Bank also intends to issues a circular to amend its existing rules governing the trad ing of BSP Securities in the sec ondary market.

A TE that plans to transact BSP Securities in the secondary mar ket is required to submit a Letter of Undertaking (LOU) to the BSP through the Financial Markets (FM) to signify its commitment to comply with the conditions for participation.

In addition, in view of the re vised terms and conditions, exist ing participants shall update their submitted LOUs.

Banking&Finance

BSP’s credit-card cap stance flayed

By Jovee Marie N. dela Cruz @joveemarie

THE chairman of the House Committee on Ways and Means on Tuesday opposed proposals for the Bangko Sentral ng Pilipinas (BSP) to adjust the current credit-card interest rate cap.

House Committee on Ways and Means Chairman Joey Sarte Salceda issued a statement after BSP Gover nor Felipe M. Medalla announced that monetary authorities would review the ceilings.

Salceda said his committee will review any move by the BSP to raise credit-card interest rate caps invok

ing monetary policy.

“Monetary policy is the sphere of the Committee on Ways and Means, based on our mandate. While we re spect the independence of the Cen tral Bank to make decisions, those decisions are not free from Congres sional accountability,” he said.

Salceda said the BSP Charter men

tions reporting to Congress at least 14 times, including a quarterly report explaining the decisions it makes.

“We’ll assert that Congressional function if needed.”

Also, Salceda urged the BSP to be more circumspect about this deci sion on credit-card interest rate caps.

“It’s just going to pad bank prof its. Why we would want to adjust 27-percent per-annum interest rates upward as if that’s not high enough is beyond me,” the lawmaker said.

Citing disclosures to the Philip pine Stock Exchange, Salceda said the largest banks in the country have become significantly more profitable compared to last year’s numbers.

He said that the biggest banks in the country have increased profits by 12 to 72 percent.

“Higher credit card interest rates will merely boost those profits while hurting the middle class,” Salceda

said adding he is urging Medalla and the Monetary Board “to reconsider its efforts to review and possibly in crease the rates.”

The lawmaker’s ears perked up after Medalla was quoted as saying that “given the higher interest rates, it’s obvious that we have to adjust the cap.”

Salceda said this is where he has to disagree with his “friend.”

“It’s not obvious to me why we should raise credit card interest rate caps. We would want to do that if in flation were because of the very high money supply in the economy: that’s when we would want to limit credit growth,” he said.

The economist-lawmaker said that the country’s inflation “is not a liquidity problem right now.”

Salceda explained that liquidity growth is actually slowing down from 7.0 percent in July to 6.8 per

cent in August.

“So, given our inflation rate, there isn’t any real liquidity growth; there isn’t too much money in the Philip pines.”

Salceda said that given the BSP’s own declared policy goals to make payments cashless, an upward shift in credit card caps is hardly encour aging.

He added that higher credit card interest rate caps will probably bring the Philippine rates to among the highest in the Association of South east Asian Nations region.

Salceda said that the cap in Thai land is 18 percent per annum, in Ma laysia is 17.5 percent and 28 percent in Singapore.

“Indonesia has the same cap as we do. Our current average interest rates on credit cards [are] already for subprime customers in the US,” he said. “Why inflict pain on ourselves?”

BTr fully awards ₧35B worth of fresh 10-year Treasury bonds

By Jasper Emmanuel Y. Arcalas @jearcalas

THE Bureau of Treasury (BTr) on Tuesday fully-awarded P35 billion worth of fresh 10-year Treasury bonds (T-bonds) as rates, the National Treasurer said, were within acceptable range.

The Treasury’s latest auction marks the first time in a month that it fully awarded a T-bond offer, fol lowing a series of partial awarding and a full rejection of a tender.

The last time the Treasury fully awarded a T-bond auction was in September for its 7-year P35-billion worth of government security.

“Full award [as we are] seeing rates are within secondary levels for comparable maturities,” National Treasurer Rosalia V. De Leon told reporters after the auction.

Tuesday’s auction was oversub scribed as investors tendered a total amount of P58.411 billion.

The auction saw the average yield fetching at 7.344 percent, 14.2 ba

sis points (bps) higher than the 7.202-percent secondary market rate for the tendered security.

The coupon rate of the govern ment security was at 7 percent.

Investors asking yield for the 10year T-bond ranged from a low of 7 percent to a high of 7.5 percent.

In comparison, the yield during Tuesday’s auction was higher than the rates fetched during the Septem ber 13 auction of 10-year P35-billion worth of T-bonds by the Treasury.

During the September 13 auction,

BSP, BMAP to strengthen partnership

the average yield settled at 6.703 percent while the coupon rate for the government security was at 6.75 percent, BTr data showed.

The Philippine government aims to raise P200 billion from auction ing-off debt papers this month. The amount covers P60-billion worth of Treasury bills and P140-billion worth of Treasury bonds to be auc tioned off.

Last month, the Treasury dis closed that the national govern ment’s total outstanding debt as of

end-August reached P13.02 trillion.

“The P133.64 billion or 1.0 per cent increment from the end-July 2022 level was attributed to the net issuances of domestic securities as well as currency adjustments,” it said.

The national government’s out standing debt is expected to further balloon to P14.63 trillion by the end of next year, almost 9 percent higher than the projected debt stock level at P13.43 trillion by the end of this year, based on 2023 budget documents.

SB Finance signs deal with Davao retail biz

By VG Cabuag @villygc

SB Finance Co. Inc. and Davaobased appliance and motorcy cle dealer Emcor Inc. signed a memorandum of agreement allow ing their customers to buy various products on installment.

Under the partnership, custom ers who use SB Finance’s credit line called “Hooloogan” can avail of fi nancing options with no downpay ment required. Special discounts will be made available to users of the payment method and will have the option to convert straight purchases to installment plans at any time, SB Finance said.

THE Bank Marketing Asso ciation of the Philippines (BMAP) said its officers and Board of Directors met with Bangko Sentral ng Pilipinas (BSP) Gover nor Felipe M. Medalla to talk about areas of collaboration to further strengthen its long-standing part nership. The BMAP said its officials shared the organization’s plans and ongoing programs and assured the BSP of the group’s continuing full support to promote the welfare of

the industry and the banking public.

The BMAP said it and the BSP have been jointly promoting finan cial education and inclusion among Filipinos, the youth and students through various programs such as: “Banking On Your Future,” “BSP Reaches Out,” or “Project BRO;” the BSP annual financial education expo; and, information campaigns to pro tect and educate the general banking public on cyber security, ATM fraud, secure use of electronic banking,

CFA awards lender for managed funds

among others.

The BMAP, with 35 member banks and associate members, also seeks to elevate the practice of bank marketing and communication through membership and public education, industry collaboration, collective participation and by pro viding recognition to outstanding brand and marketing campaigns and projects of financial institutions through the BMAP Bank Marketing Awards.

“Hooloogan” offers a credit line for as high as P200,000 that custom ers can use to purchase appliances, furniture, laptops, smartphones, motorcycles and three wheelers at partner establishments through the “Pay Hooloogan” facility.

Customers can avail of payment options from three months to 48 months.

“Through our partnership, we will be able to reach more Filipi nos to make our vision of being the launch-pad of their dreams a reality,” SB Finance President Abbie Marie D. Casanova said.

Founded in 1976 as Engineering

and Machinery Corp., Emcor has been in the selling and distribution industry for over 46 years. To date, it operates 154 stores in Visayas, Min danao and Palawan and is a strong player in the retail of motorcycles, home appliances, furniture, com puters and information technology products.

Emcor President and COO Nelson M. Aparejo said their partnership with SB Finance “would give custom ers more payment options to get the things they aspire for.”

Aparejo said they are optimistic that through “Pay Hooloogan,” “more Filipinos will be able to get the things they want, on their terms.”

Michael Albert R. Rallonza, head of consumer finance of SB Finance, said the partnership is important to promote financial inclusion in the Visayas-Mindanao regions.

“This truly is a partnership that will further enable us to serve our communities in the best way we can,” Rallonza said.

SB Finance is a partnership be tween Security Bank Corp. and Bank of Ayudhya (Krungsri) in Thailand. SB Finance offers multipurpose personal loans to pay for essential expenses and cover cash needs for education, business and obligations.

China’s junk debt sliding into distress

Banking Corp. recently announced that its dollar fund and intermediate fixed-income fund were named as the “Best Managed Funds” by the Chartered Financial An alyst (CFA) Society of the Philippines.

CHINA

According to Trust Officer Mary Ann T. Lim, of the eight unit invest ment trust funds (UITFs) providing the best risk-based returns on a con sistent basis over a 5-year period, two were from China Bank.

Lim said the lender’s dollar fund won the “dollar long-term bond” cat egory, winning “Best Managed Fund” for the sixth time since 2016.

Meanwhile, the lender’s interme diate fixed-income fund bagged the plum award for the first time in the “Peso Medium-Term Bond” category.

According to Lim, the winners were assessed using the Sortino ra tio of each fund based on its 5-year and 3-year track record. The Sorti no ratio captures the risk-adjusted return of a fund by comparing its return against the fund’s downside risk or volatility.

The dollar fund is invested in a port folio of dollar-denominated securities consisting principally of high-grade government and/or corporate bonds and bank deposits of varying tenors. It aims to outperform its benchmark, the Bloomberg Emerging Markets USD Sovereign-Philippine Total Re turn Index.

Lim said China Bank’s intermediate fixed-income fund is invested in a port folio of peso-denominated high-grade

marketable fixed-income securities like deposits, tradable money market instruments, government securities and corporate bonds and/or notes and preferred shares of stock classified as debt securities.

The fund benchmarks its perfor mance against the Bloomberg Philip pine Sovereign Bond Index 1 to 3 Year (BPHIL13 Index).

Both UITFs cater to investors with “moderate” risk profile.

Launched in 2016, the CFA Society Philippines’ “Best Managed Fund of the Year” Awards has been the global stan dard of excellence in the investment industry, recognizing the country’s high-performing funds open to retail investors, based on their risk-adjusted returns. Rizal Raoul S. Reyes

AWORSENING crisis in China’s property market is dragging junk dollar bonds from the nation’s borrowers deeper into dis tress, as the implosion of what was once one of the world’s most-profit able bond trades sends ripples across trading floors.

Anyone who had been expecting a market turnaround from the 20th Communist Party congress which started Sunday has been left grap pling with a further grind lower in China’s offshore credit market this week. President Xi Jinping gave few signals of any major changes regard ing housing market policies and Co vid rules that have also hampered the sector.

Average prices of the securi

ties, dominated by real estate firms, dropped 1 cent to 2 cents last Tuesday to a record low below 56 cents. Chinese high-yield notes have now suffered a record drawdown of more than 55 percent from a peak in 2021.

The rout underscores the challeng es Chinese authorities face as they try to balance long-term efforts to wean the property market of excessive debt, while preventing a more severe down turn in the industry that accounts for about a fifth of the economy.

“The only way out is to have a heavy government involvement—for local governments to buy assets from private developers, for instance,”

Raymond Yeung, chief Greater China economist at ANZ Bank, told Bloom berg TV last Tuesday.

In a sign that policy steps are in creasingly meeting with trader skepti cism, the latest declines came despite fresh signals of an important expan sion of a government program to help shore up liquidity.

For the first time, developers among a small group to issue local bonds with state guarantees under a program that emerged in August are coming back with more such planned offerings. Seazen Holdings Co., which has residential and commercial proj ects in more than 100 cities, plans to issue as much as 1.5 billion yuan ($208 million) of such notes. Coun try Garden Holdings Co. and Longfor Group Holdings Ltd. are also planning offerings under the program.

This undated photo courtesy of the Bank Marketing Association of the Philippines shows Bangko sentral ng

Pilipinas Governor Felipe M. Medalla (center, seated) with officers of the BMAP: (standing) Director for industry Relations and Banking Code and Financial inclusions Miguel Angelo C. VillaReal (Veterans Bank); Treasurer Emmanuel Mari K. Valdes; (seated from left to right) Chairman for Election Maria Luz E. Javier (Avanza inc.); Director for Programs Judith C. songlingco (Philippine Business Bank); President Mai Gacilo sangalang (standard Chartered Bank); Auditor Mary Ann R. Ducanes (Chinabank); BsP Deputy Governor for Financial supervision sector Chuchi G. Fonacier; and Director for Publicity and Digital Marketing Tanya AnsaldoDeakin (security Bank). Photo courtesy oF Bank Marketing association oF the PhiliPPines

VIC, JOEY AND AGA MUHLACH HEADLINE NEW SHOWS FOR NET25

BY LEONY R. GARCIA

AS NET25 continues to create quality TV content for Filipinos around the world, the network also makes sure to make existing shows better and stronger. Likewise, new shows—headlined by TV veterans Vic Sotto, Joey de Leon, Aga Muhlach and broadcaster Korina Sanchez—were recently launched to provide a wider range of programs for the family-oriented TV network.

Veteran host and comedian Vic Sotto, wife, Pauleen Luna and their daughter Tali will make Sundays more fun with Love, Bosleng and Tali

Each week, the Sotto family helps out a letter sender needing advice on how to navigate through life’s ups and downs through topics closest to the Filipino family’s heart: family, love life, survival, career and friendship.

The Sottos dish out hilarious yet sound and meaningful life lessons to different letter-senders from the comfort of their own home, reflecting today’s set-up of many Filipino families staying at home most of the time due to the pandemic. Serving as Tali’s acting debut, the show which started airing last September 4, is garnering high rating for NET25.

Meanwhile, Joey de Leon’s Oh No! It’s BO (Biro Only), now on its 3rd season, gets revitalized with more pranks and laughter for its viewers. The show features ordinary, clueless Pinoys being pranked. The gag show will also feature the country’s favorite TikTokers as its newest pranksters.

Joining Oh No! It’s BO gang are showbiz newcomers and online influencers Niko Badayos, EL Mendoza, and kumu livestreamer Jai Gonzales. Watch this hilarious show every Saturday at 8 pm and be ready as the team travels to different provinces to prank many of unsuspecting individuals.

Veteran broadcaster Korina Sanchez-Roxas also joins NET25’s roster of talents with her new lifestyle show, Korina Interviews, an intimate, insightful, fun and informative conversation with known personalities about their public and private life.

A bigger and better season of the most-loved game show on NET25, Tara Game, Agad Agad (TGAA) premiered last October 16. Aga Muhlach is back as the host of the show’s third season which will continue to showcase more games and give bigger prizes.

On its new season, Aga will be joined by two lovely and perky cohosts, TikTok star Yukii Takahashi, and Brazilian actress and host Daiana Menezes.

Agency says BTS members will serve in South Korea’s military

BY KIM TONG-HYUNG

The Associated Press

half of 2023, and we have secured content in advance, which will enable BTS to continue their engagement with fans for the foreseeable future.”

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Gillian Jacobs, 40; Chris Kattan, 52; Jon Favreau, 56; John Lithgow, 77.

HAPPY BIRTHDAY: Take nothing for granted. Hard work, a passionate attitude and an exhausting schedule will keep you healthy, wealthy and wise. Be the first to make a move and take command. Follow your instincts and heart, and don’t stop until you are satisfied with the results. Make this a year to remember, filled with enthusiasm, love, growth and change. Aim for personal security. Your numbers are 5, 12, 26, 28, 30, 36, 44.

SEOUL,

South Korea—The members of K-pop band BTS will serve their mandatory military duties under South Korean law, their management company said Monday, effectively ending a debate on whether they should be granted exemptions because of their artistic accomplishments.

Big Hit Music said the band’s oldest member, Jin, will revoke his request to delay his conscription at the end of the month and undertake the required steps. The six other BTS members also plan to serve in the military and are “looking forward to reconvening as a group again around 2025 following their service commitment,” the company said in a statement.

No further information on the timing of their service was given. The band members performed together in Busan over the weekend in support of the city’s EXPO bid, which will be their last concert as a group until they finish serving in the military, according to their label.

Hybe Corp., the parent company of Big Hit, said in an e-mail to The Associated Press that each member of the band for the time being will focus on individual activities scheduled around their military service plans.

In a letter to shareholders, Hybe CEO Park Jiwon downplayed financial concerns related to the BTS hiatus, saying it has a broad enough lineup of artists, including other popular K-pop groups such as Le Sserafim and NewJeans and Western performers Justin Bieber and Ariana Grande.

“We have always been aware of the eventuality of mandatory military service, and we have long been making preparations to be ready for this moment,” Park wrote. “In the short term, individual activities for several of the members are planned into the first

The announcement came after Lee Ki Sik, commissioner of the Military Manpower Administration, told lawmakers this month that it would be “desirable” for BTS members to fulfill their military duties to ensure fairness in the country’s military service.

After enlisting, Jin and other BTS members will receive five weeks of combat training before being assigned to specific units and duties, according to officials at the Military Manpower Administration, who stressed that the singers would go under the same process as other South Korean men.

While South Korea’s military for years had assigned enlisted entertainers to duties related to producing radio and TV material promoting the military, the “entertainment soldier” system was retired in 2013 following complaints over fairness.

Defense Minister Lee Jong-sup said in August that if BTS members join the military, they would likely be allowed to continue practicing and to join with the group for tours overseas.

Whether the BTS members must serve in the army had been a hotly debated issue in South Korea as Jin faced possible enlistment early next year. Jin turns 30 in December, the age at which men can no longer delay enlistment. Other members are currently between 25 and 29 years old, with Suga turning 30 in March.

Under South Korean law, most able-bodied men are required to perform 18-21 months of military service, but special exemptions had been granted for athletes and artists who excel in certain international competitions that have been tied to national prestige.

The band—its other members being J-Hope, RM, CONTINUED ON B5

young actress. All this is under the bridge now but at the height of the controversy, the actor’s former girlfriend would even buy Instagram likes just so her posts would do better than those of the young actress? There was a time when the girlfriend forgave the young actress before she forgave her ex when, in fact, the supposed “rival” was not really one. The “rival” just wanted to boost her star power by being part of a controversial love triangle.

MORE ALLEGATIONS

ARIES (March 21-April 19): Apply energy where it counts, and you’ll surpass your expectations. Mix business with pleasure and win favors that help you reach your goal. By lending a helping hand, you’ll receive what you need to advance. Share plans and love with someone special. ★★★★★

TAURUS (April 20-May 20): If you want to change, don’t just sit there; act. Getting involved in emotional mayhem will slow you down and cause you to miss out on something special. Don’t make promises or get involved with someone without researching or doing a background check. ★★

GEMINI (May 21-June 20): You’ll feel passionate about making a difference. Step into the spotlight and offer suggestions that benefit your community, family or work environment. Keeping the people around you happy will encourage higher profits and better relationships. Make honesty a priority. ★★★★

CANCER (June 21-July 22): Be part of the solution, not the problem. Observing is in your best interest. Seize the moment so as to immerse yourself in what’s trending, who’s doing what and how you can take advantage of the situations unfolding around you. Avoid emotional spending. ★★★

LEO (July 23-Aug. 22): You’ve got more leverage than you realize. Voice your opinion and act. Following through will make your words powerful and difficult for others to deny. Look for an opportunity and it will become apparent what you can and should do next. ★★★

VIRGO (Aug. 23-Sept. 22): A disciplined attitude will bring the highest return. Refuse to let anyone interfere in your progress. Keep your eye on the ball and push for the changes that will make your life easier and your plans feasible. ★★★

LIBRA (Sept. 23-Oct. 22): Put your energy where it counts and help someone or something that concerns you. An honest assessment of a situation will offer ideas or solutions that are quick to implement and difficult for others to reject. Be the one to make a difference.

SCORPIO (Oct. 23-Nov. 21): Expect others to put demands on you. Be prepared to counter any situation you face with a better plan. Staying one step ahead of the crowd will give you the edge to succeed. Be secretive until you are ready to launch.

SAGITTARIUS (Nov. 22-Dec. 21): Taking a short trip or attending a meeting or conference will help you understand where you can make the most significant leap forward. Ask an established friend or relative for input regarding a topic of interest that perplexes you.

FRIENDSHIP OVER

THE celebrity and one of the members of her glam team have reportedly had a falling out. The glam team member has been with the celebrity for a long time and the rift was reportedly caused by one of the celebrity’s associates and close friends. The associate reportedly did not treat the glam team member well and when that person complained, guess whose side the celebrity took? The glam team member was disappointed the celebrity did not stand up for them, when they had known each other for years and mostly worked well together. The glam team member was responsible for some of the celebrity’s most amazing looks. It’s sad that they had to part ways with the glam team member feeling that they were not treated fairly.

FEELING LIKE A MAIN CHARACTER

HOW true is it that the young actor never had any romantic interest in the actress who was accused of breaking up his former relationship? The actor reportedly just saw the girl as a friend and even when his then-girlfriend broke off with him, he still didn’t pursue a romantic relationship with the

THE recent revelations about sexual abuse against a male starlet have only reinforced allegations and blind items about him. The one who publicly made the allegations is reportedly not the only victim. There are reportedly others, including a more senior male actor and a handsome young actor. So how was the starlet able to get away with what he has done? Did he have strong connections who protected him? It’s a yes— but he also got away with things he allegedly did because such wrongdoings are accepted in show business as “one of those things.”

THE DIVA

WHO is the beauty queen who is said to be a diva?

Organizers of the pageant which she won reportedly regret going for her instead of another candidate because the beauty queen, in their eyes, has not represented them well. They wanted something different when they let her win instead of the other candidate which people had been pushing for. But now, the organizers are thinking that perhaps they should have listened to pageant insiders who wanted someone who looked and acted liked a conventional beauty queen. So will this year be another bad one again in terms of the international competition? Let’s just wait and see.

CAPRICORN (Dec. 22-Jan. 19): Tread carefully. You’ll meet with opposition if you are too vocal or aggressive in your search for answers. Do your due diligence and get the facts before you take on a controversial issue that can cause upset or affect your status quo. ★★★

AQUARIUS (Jan. 20-Feb. 18): Put on your thinking cap and you’ll find a way to overcome whatever you encounter. A moneymaking opportunity will lead to prosperity if you take the initiative and invest in your future. Contracts, new beginnings and romance are favored.

PISCES (Feb. 19-March 20): Pitch in and help, but don’t lecture, complain or criticize others. A kind and empathetic offer will possess a better outcome and no hard feelings. Think before you do or say something you regret. ★★★

BIRTHDAY BABY: You are appealing, prompt and efficient. You are original and spirited.

Avoid conflicts; work behind the scenes.

: You can accomplish, but don’t rely on others.

: Focus and you’ll reach your goals.

: Aim high; start new projects.

: Nothing can stop you; go for gold.

‘pizza making 101’ BY DAN SCHWARTZ AND SHANNON RAPP

The Universal Crossword/Edited by Amanda Rafkin

Solution to today’s puzzle:

VIC SOTTO, Pauleen Luna and daughter Tali

Improving your digital �luency

BEST MENTAL HEALTH ADVICE

TRYING to interrupt unhelpful thoughts at times of distress does not mean you do not acknowledge your anxiety. Psychological health expert, educator, and cognitive neuroscientist Nawal Mustafa noted it is best to consider what these feelings might be telling you. “Maybe you need to reframe your viewpoint? Maybe you need to slow down? Or maybe you are under a real threat and need to take action?” she asked.

Through her personal experiences and training, Mustafa gathered some of the best mental health advices that changed her life. As a practitioner, she aims to impart it to others.

In time for the World Mental Health Week this October, Benilde Well-Being Center (BWC) of the De La Salle-College of Saint Benilde is one with Mustafa in extending a helping hand to those who need support, as well as reminding others to check in on their family and friends during these trying times.

“Let us all take this opportunity to unite and recognize the importance of protecting, nurturing, and improving our well-being and mental health,” the office stated.

To calm negative thought patterns, here are Mustafa’s top five tips to keep in mind:

■ THINK AND REST. RESPOND IF IT STILL BOTHERS YOU WITHIN 24 HOURS. It is normal to react right away when we are upset. However, during this time, our nervous system is dysregulated. It can lead to a negative reaction. Pausing allows us to think more clearly. This lets us respond to the situation more deliberately.

■ STOP APOLOGIZING FOR TAKING UP SPACE AND EXPRESSING YOUR FEELINGS. How you treat yourself is teaching others how to treat you. Do not constantly apologize for setting boundaries and sharing opinions. Own your authentic self and love it unconditionally.

■ THE WAY YOU SPEAK TO YOURSELF MATTERS. The words we use to speak to ourselves have a significant impact on our psychological health. If you always judge yourself, put yourself down, and criticize your own abilities, you will later on believe those phrases. Talk to yourself as if you are talking to a loved one.

■ PEOPLE AREN’T THINKING ABOUT YOU THE WAY YOU ARE THINKING ABOUT YOU. There is a term in social psychology called the “spotlight effect.” This refers to a tendency to overestimate how much others think about us. Everyone else has their own problems or lives to think about.

■ REJECTION IS REDIRECTION. When you feel rejected or unwanted, acknowledge that this feeling is awful. But do not let it consume you. You will likely not take many chances if you have not experienced rejection. Turn your hardships into self-growth. Use this momentum to explore new opportunities.

Agency says BTS members will serve in South Korea’s military

CONTINUED FROM B4

Jungkook, V and Jimin—launched in 2013 and has a legion of global supporters who call themselves the “Army.”

After building a huge following in Asia, BTS expanded its popularity in the West with its 2020 megahit “Dynamite,” the band’s first all-English song that made it the first K-pop act to top Billboard’s Hot 100. The band has performed in sold-out arenas around the world and was even invited to speak at United Nations meetings.

Since South Korea’s draft interrupts young males in their professional careers or studies, the dodging of military duties or creation of exemptions is a highly sensitive issue. Opinion surveys in recent weeks showed that the public was split over whether the BTS members should serve in the military.

■

technological innovations so you can examine which ones are useful for your team.

This is where digital fluency comes in. Digital fluency includes you and your team’s ability to identify and evaluate emerging and existing technologies to improve workload, collaborate with others faster, and use tools and data properly.

Being digitally fluent helps you understand how you can leverage available technology to identify what your customers want, and to respond to them faster than your competition. It also helps you assimilate new technology to streamline workflows to enhance your products and services. This includes technology that can be used to monitor productivity and enhance the performance of your team. Digitally fluent organizations also help their executives make datadriven decisions, while allowing their employees to do their work anytime and anywhere.

Basically, improving your digital fluency means improving your team’s Technology Quotient (TQ).

Similar to Intelligence Quotient (IQ) and Emotional Quotient (EQ), TQ evaluates how you respond to new technology, your skills in using it, and how you use it to strategically improve your work and your collaboration with others in the workplace. Your TQ can also be affected by the available technologies when you were born, as in the case of digital natives who grew up in the age of digital technology which allowed them to readily assimilate a digital mindset and how to use new technological innovations in

Time to get active

THE pandemic has made us more aware of the importance of health and wellness. And part of maintaining a good and healthy lifestyle is committing to exercise and staying active.

So, it’s to time to again get active. Whether you’re into lifting weights, attending yoga or pilates classes, cycling, or running outside, Surplus has everything you need to help keep you fit and fab at the same time.

Calm your mind with yoga and pilates, which are best with a snug-fit sports bra paired with lightweight and breathable leggings for good range of motion. You can also bring Surplus yoga mats into your classes.

Boost your energy by lifting weights or cardio training with sweat-wicking tees, athletic jackets, gym shorts, or sweatpants. If you’re into cycling— indoor or outdoor—matching cycling outfits bring more style into your routine.

The Surplus active collection and other versatile fashionable pieces are available in Surplus stores located in most SM Supermalls nationwide.

For more convenient shopping experience, Surplus can also be found on Lazada, SM Malls Online and ShopSM.

their everyday activities. To help improve you and your team’s digital fluency, you need to identify the overall objective of your team first. Technology is just a tool and is not the end-all-and-be-all of your team so do not use new technology for the sake of using it because such an approach will not be sustainable. Your objective as a team should guide you in choosing which new technology to adopt to help you achieve your overall goals.

One company I worked for used VR goggles for recruitment and asked applicants to use them while waiting for their turn to be interviewed. But the materials they viewed were just videos and did not even look three-dimensional. This company was just riding on the hype of VR and used it to attract applicants. In the end, they took it out because it only increased applicant volume at the start, but they could not sustain it. Eventually, it cost more because they had to constantly update the materials and assign one person to ensure it was used properly. So before using new technology, study how it will impact your existing manpower, process and tools.

After ascertaining your team’s overall objective, research available technology in the market so you can compare them and choose which one can be best used by your team. When I was asked to look at AR and VR tools available in the market, I discovered that

creating content for AR and VR entails not just the course development software but other equipment like the VR goggles, cameras and other specialized tools. You need to research and benchmark with other organizations so you can avoid common mistakes and prepare adequately for when you decide to use the same technology.

To help your team appreciate and think of how they can use new technology, expose them to it by sending them to training and conferences on emerging technologies in your field so they know the possible tools and business processes that they can use to improve their work. When we were asked to study how to use AR and VR in training, some of my team members visited shops that offered an immersive VR experience, and they tried out for themselves to see how the technology worked. Their insights were valuable in helping us decide that the use cases for AR and VR at the time were still limited.

New inventions cannot be maximized if used willy-nilly or haphazardly. While there is a multitude of new technologies in the market, not everything is useful for your team. Your role as a people manager is to help your team improve their digital fluency so that when they are exposed to new technologies, they can properly discern which ones they can use to improve their work, and how they impact existing processes and tools. ■

PHOTO BY SIMON ABRAMS ON UNSPLASH

your mind, body and spirit with this snug fit old rose sports bra paired with light pink breathable leggings.

CYCLING is more fun with a fab bicycle suit.

goes green with this sleeveless hoodie top and shorts.

an evening run wearing a dry fit top, sweatpants and an athletic jacket.

Pharma companies Simcere, Alimrall close US$492 million out-license deal

SIMCERE Pharmaceutical Group, an innovation and research and development driven pharmaceutical company, and Almirall S.A., a global biopharmaceutical company focused on skin health, have entered into an exclusive licensing agreement for Simcere’s IL-2 mutant fusion protein (IL-2 mu-Fc) autoimmune drug candidate, SIM0278.

Under the agreement, Almirall will be granted an exclusive right to develop and commercialize SIM0278 for all indications outside of the Greater China region (Mainland China, Hong Kong, Macau and Taiwan). Simcere will retain all rights to develop and commercialise SIM0278 within Greater China.

Within the terms of the agreement, Simcere will receive a US$15 million upfront payment, and up to US$492

million in development and commercial milestone payments considering successful achievements in several indications, with an important part as sales milestones, as well as up to low double-digit tiered royalties based upon future global sales.

“We are very excited to have reached a collaborative agreement with Almirall for the development of SIM0278. This innovative IL-2 mutein is one important molecule of our immune-rebalancing strategy for autoimmune diseases,” said Dr. Renhong Tang, Co-CEO of Simcere, “SIM0278 is one of the key molecules developed based on Simcere's in-house protein engineering platform. This partnership also marks a milestone of Simcere’s globalization effort. We look forward to closely working with Almirall to demonstrate the clinical value of SIM0278.”

“At Almirall, we always look for new opportunities to strengthen our R&D pipeline. That is why we are very pleased to close this new development and commercialization agreement with Simcere,” stated Dr. Karl Ziegelbauer, Almirall’s Chief Scientific Officer. “SIM0278 has great potential to treat a broad spectrum of immunological diseases, and we expect that its development will allow us to reinforce our biologic pipeline and our leading position in Medical Dermatology.”

Simcere Pharmaceutical Group Limited has established the State Key Laboratory of Translational Medicine and Innovative Drug Development and currently boasts of four R&D centers in Shanghai, Nanjing, Beijing and Boston.

With the commitment to “provide today's patients with medicines of the future,” the company focuses on three therapeutic areas: oncology, central nervous system diseases, and autoimmune diseases, while actively expanding its strategic presence in prospective disease areas with significant clinical needs in the future.

Simcere now has six global first-inclass innovative drugs and is holding leading market shares for its key products in China with its excellent R&D and commercialization capabilities. Its vigorous in-house R&D efforts and extensive R&D collaborations have made it a strategic cooperation partner with international and domestic leading innovative pharmaceutical enterprises, medical institutions and research institutes.

Almirall is a global biopharmaceutical company focused on skin health. It collaborates with scientists and healthcare professionals to address the patient’s needs to improve their lives.

Michael Leyva celebrates 10th anniversary in fashion with show at the National Museum

FASHION designer Michael Leyva marked his 10-year journey in the fashion industry with a grand runway presentation. Dubbed “Hiraya: Isang Dekada ng Aming Pagmamahal at Pangarap,” the show took place at Manila City’s iconic landmark, the National Museum of the Philippines, a perfect venue for his showcased pieces as they are truly works of art.

Becoming a designer wasn’t part of Michael’s plan. But destiny led him to dress the country’s most beautiful personalities when he took the challenge to follow in the footsteps of his late brother, Brian Leyva.

“At first, I was hesitant to do it because I had no idea of what fashion is all about,” the designer said. “I don’t know how to draw, talk to clients, or choose fabrics. The only thing that I have that time was the courage that I can do it with the guidance of my brother. He was the one who inspired me to do anything until today. I know, behind everything that’s happening to me right now, there’s one angel up above guiding me all throughout.”

A truly emotional show, “Hiraya” started off with Michael looking back at the past ten years of his life as a designer. He reminisced about the challenges he faced throughout the process, from his early struggles as a novice designer to the times when inspiration was scarce. He also recalled the many achievements in his life—all of which he owed to his lovely family, supportive friends and clients, and, of course, to his late brother. “Hiraya” is a Filipino term meaning the “fruit of one’s hopes, dreams, and aspirations,” and that’s what his show is all about.

Singer Erik Santos started the show with an inspiring performance of “This is the Moment.” Leading the style fest was Miss Universe Pia Wurtzbach looking like a goddess in Michael’s gilded garb. What followed next was an array of white couture pieces with dresses with elaborate boning details

and sculptural suits. Soon after, his jeweltoned creations with fringe details, delicate floral embellishments, and brushstroke design elements paraded on the runway.

In one of the top moments of the night, TV host Vice Ganda emerged from the elevator of the museum’s Tree of Life wearing a breathtaking white wedding dress complete with a chapel-length train and a romantic veil. The style fantasy continued with a series of pastel ball gowns, glimmering ensembles, and dramatic garbs so immaculate everyone was moved and gave the pieces rounds of applause. For the finale look, actress Anne Curtis wore Brian’s Filipiniana design made of five centavo coins, the piece he presented at the Young Designer’s Competition in 2006. The stunning show ended with singer Regine Velasquez-Alcasid giving an empowering performance of “I Believe.”

“Hiraya: Isang Dekada ng Aming Pagmamahal at Pangarap” was witnessed by Manila’s most stylish crop. One of the evening’s special guests was Atty. Liza

Araneta-Marcos, the First Lady of the Philippines.

For Michael, the show was not just about what he achieved in the past decade, but also about honoring the legacy his late brother left in the local fashion landscape. The journey to get where he is now was not a stroll in the park. But with his natural design skills, tenacious spirit, and his brother as his all-time inspiration, Michael’s career is a true testament to the saying, “If you can dream it, you can do it.”

“Hard work is the key. It is very important that you love what you’re doing because you’ll never get tired of it,” Michael said. “In the past 10 years, there was never a day in my life na nagsisisi ako na ituloy what my Kuya Brian started… I know that there will not be a Michael Leyva if it wasn’t because of Brian Leyva. I hope I made him proud. Looking back at the past 10 years, when I’m in doubt if I can do it and I don’t have the courage, if I got the chance to talk to my young self, I’ll tell him that you can.”

Enjoy freediving at Camotes Freediving Center in Cebu

SEASONED freedivers travel the world to claim stake to the best freediving spots. One such freediver is Thibault Guignés, who opened Camotes Freediving Center in Cebu in June 2022.

Freediving, also known as breathholding, skin diving, or apnea, is a safe sport that consists of holding your breath underwater, in a pool, or in open water. Its rising popularity as a recreational and competitive sport can also be attributed to the increasing demand for meditation, relaxation, and mindfulness practices.

Freediving, after all, is not just a skillsoriented sport, but also an addictive mindset game.

It was love at first breath-hold for Guignés, and he has since planned his life around the sport. He moved to Cebu, Philippines in 2015, and entered his very first freediving competition in the country. He moved on to compete internationally and now, Guignes is one of the best in the world, holding the French national record

for his 117-meter Free Immersion, an opensea category where the freediver does not use swimming fins. He naturally progressed to be a freediving instructor, with his students noting his calm disposition, infectious passion, and sincerity in sharing his knowledge.  He does not mind missing out on this year’s competitions, as he trains freedivers who aspire to challenge their own depth records.

Guignés explored the country for the best freediver training location and found Camotes Island, a one and half hour speedboat commute from Cebu City.  “It is one of the best locations I have experienced,’’ he explains, “it has calm currents, zero drift, visibility of 25 meters, and a depth of 150 meters”.

Camotes Freediving Center opened its doors in June of this year and can accommodate freedivers almost all year round. “Weather conditions are perfect 350 days a year,” said Guignés.

The Camotes Freediving Center is arguably the best in Asia, it offers worldclass facilities and is headed by Guignés, who incidentally heads the educational board of the Molchanovs, a growing freediving agency because of its personalized training approach.

Now that travel is possible again, it’s an exciting time to put freediver training on your next-level adventure bucket list, with Camotes Freediving Center as the destination.

Security Bank named 2022 Philippines’ Best Bank for Diversity and Inclusion by Asiamoney magazine

SECURITY Bank Corporation has been named the Philippines’ Best Bank for Diversity and Inclusion by premiere financial magazine Asiamoney at the 2022 Asiamoney Best Bank Awards.

“At Security Bank, gender equality is at the center of its mission to build stronger communities and empower the creation of innovative new businesses. In December, social media firm LinkedIn chose the bank for its annual Diversity Champion award. The platform emphasized Security Bank’s success in ensuring equal consideration for pay raises, promotions, and decisionmaking processes,” says Asiamoney.

“Security Bank has made great strides in building a workforce that provides equal opportunities—championing partnerships with various organizations to create a meritbased approach to talent acquisition and leadership. Being named the Philippines’ Best Bank for Diversity and Inclusion fuels our commitment to becoming a true Employer of Choice in the Philippines,” says Sanjiv Vohra, President and CEO of Security Bank.

According to studies conducted by the World Bank and the International Monetary Fund, greater gender equality can enhance economic productivity in organizations and improve development outcomes for the next generation, allowing for the creation of more inclusive policies that benefit the

current and future workforce.

“The bank stands out in the region because of the progress it has made toward a gender-neutral view of recruitment and the number of women in middle and senior management positions. Women hold about 58 percent of the senior management positions, and the bank has consistently come top in the Philippines in recent years for this metric,” adds Asiamoney.

“We are honored to be recognized by Asiamoney as the 2022 Best Bank for Diversity and Inclusion. We have made improvements to the bank’s Human Capital Management capabilities, enabling a more inclusive work culture. As we move forward, we will continue to implement programs and policies that that enable equality and inclusivity,’ says Nerissa Berba, SVP and Head of Human Capital Management at Security Bank.

Launched in 2017 and now on its 5th year, the Asiamoney Best Bank Awards seeks to recognize banks in the region that have excelled across a range of core banking activities over a given year. Asiamoney’s award decisions are made by a team of senior journalists, chaired by Euromoney’s editor.

To know more about Security Bank’s recent awards, visit www.securitybank.com/ awards or its Facebook page www.facebook. com/SecurityBank.

MICHAEL Leyva’s “Hiraya: Isang Dekada ng Aming Pagmamahal at Pangarap” runway show

SIMCERE’S Head office in Nanjing China.

LAS PIÑAS RECOGNIZED FOR QUALITY HEALTH SERVICES. Las Piñas Vice Mayor April Aguilar (center) and Dr. Juliana Gonzales (left) together doctors from the Las Piñas City Health Office received two recognitions for high quality health services and a check during the 35th anniversary of the Department of Health-Metor Manila Center for Health Development celebration at the Manila Hotel.

Megaworld bullish in its Cavite sustainable-CentriC projeCt

By Rizal Raoul S. Reyes

The Dr. Andrew Tan-led Megaworld Development Corp. (Megaworld) is bringing to the historic province of Cavite a sustainable-centric project called the Maple Grove—the 140-hect are township in General Trias.

Eugene Lozano, Megaworld First Vice President for sales and market ing told reporters in a recent press fa miliarization tour that Maple Grove’s development has been inspired by the magnificent planning of Makati’s cen tral business district.

“Maple Grove will be a modern, ecofriendly, and green 140-hectare town ship development that hosts a unique mix of defined commercial, residential, and office developments,” Lozano said.

Going green, Maple Grove will adhere to the sustainable standards of develop ment. To begin with, Maple Grove will be surrounded by green, open parks. Moreover, Lozano said Maple Grove will feature about 10 lots per hectare, with each lot ranging in size from 360 square meters to 1,008 square meters.

Maple Grove will be positioned as a site for multinational companies wish ing to establish or strengthen their presence in the CALABARZON area.

Maple Grove has a very strategic loca tion as it very accessible via the Coastal Road and Cavitex, with an estimated travel time of about 30-45 minutes from the Makati CBD, Bonifacio Global City, and the Ninoy Aquino International Airport (Naia).

Maple Grove will have world-class design standards as it will be designed by w imberlley Allison, Tong & Goo ( wATG)—the same group behind some of the world’s most extraordinary resort destinations like Shangri-La Maldives and Sofitel Bali in Indonesia.

Some of the township features in clude Maple Grove Transport h ub, bike lanes and jogging tracks, six-lane Maple Grove Boulevard, 2-hectare rainwater park, landscaped open spaces, pocket gardens, central material recovery fa cility and a sewage treatment plant.

The Maple Grove Mall will func tion as the retail component. It will be a two-level “sustainable mall” with around 24,000 sq m of gross floor area

KMC all set to open new Makati site in November

By Roderick L. Abad

FLEXIBLE workspace provider

KMC Solutions (KMC) is further expanding its footprint in the Philippines, with the opening next month of its new multi-story site in Makati City.

Its coworking offices will occupy the sixth to the eleventh floor of the Philippine Economic Zone Authority (PEZA)-accredited One Ayala Tower 2. They will have an aggregate floor area of 10,663 square meters (sq m) with 2,133 seats, making it the largest loca tion of KMC this year.

“Our One Ayala site will be a boon to investors who are looking to take advantage of the incentives afforded by PEZA and individual employees who want convenient access to transporta tion hubs and food and retail establish ments,” said KMC Vice President for Marketing Gian Reyes.

The One Ayala site is designed to ca ter to companies’ need of a workspace that provides an enabling environment for employees that seek companionship. hence, the site features both traditional workstations and shared spaces that support diverse work styles and allow collaboration with other tenants.

This is a welcome development also for a growing number of firms that gravi tate towards a hybrid setup, which mixes onsite reporting and remote working.

“ we no longer have to suffer hours in traffic to get to the office,” the top executive said. “Deconsolidation is the way to go. By having access to many

coworking spaces, we enable flexibility and convenience while ensuring pro ductivity and efficiency.”

The strong adoption of a distrib uted workforce strategy among local companies is seen helpful for the office market to still achieve record revenue in 2022 amid the recent low occupancy level, per KMC.

Cushman & wakefield reported last August that office vacancy rate in the country increased to 16.2 percent in the second quarter of this year from 15.4 percent in the previous quarter.

w hile traditional commercial spac es struggle with double-digit vacancy rates, Reyes said that they are still op timistic on the growth of its segment with the market’s evolving attitude towards work.

“ w ith the changing needs of both employers and employees, we are confi dent that the market demand for flexible spaces will continue to grow,” he noted.

Riding on this trend, KMC has fur ther developments in the pipeline before end of the year. Among these is the open ing of a 361-seater serviced office with a floor area of 2,047 sq m at Axis Tower 1 in Alabang, Muntinlupa. A 7,251.2-sq m coworking space with 1,301 seats is now under construction at Lexmark Plaza 1 for its scheduled launch in December.

The company completed a 1,150-sq m coworking office with 205 seats at Skyrise 4A earlier this year. KMC will cap 2022 with a total flexible work spaces portfolio of 121,487 sq m of floor area and 23,008 seats in 28 buildings nationwide.

to host retail and food and beverage out lets, four cinemas, indoor events area, and an anchor supermarket.

One Corporate Place F OR the corporate sector. Maple Grove will have the 17-story high One Corpo rate Place offering 93 select office units ranging from 60 square meters to 280.50 sq m at the One Corporate Place.

Lozano said the subdivision will have its own Building Management System (BMS), a 24-hour Security and Fire Command Center, Seismic Detection and Monitoring System, stand-by generators for 100 per cent back-up power, fire security system, water reservoir with separate fire reserve water tanks, and a 24-hour CCTV moni toring system.

It will have a roof deck garden, use of energy-saving LED lights in common ar eas, use of dual-flush type water closets for common toilets, and its own Material Recovery Facility (MRF) for waste segre gation and recycling.

Verdin and La Cassia Residences

E LIZA L EONOR C APALAD, Megaworld as sistant vice president for marketing said Verdin and La Cassia will be the residential components of the township.

She said Verdin will have 140 units (including with lanai) ranging from stu dio units up to (32 sq m), one bedroom (up to 50 sq m) and two bedrooms ( up to 79 sq m). In line with adhering to the green agenda, Capalad said Verdin will use sustainable, recycled and indigenous materials in various components and amenities, energy-generating equipment and machines in the outdoor areas, lush pocket gardens and solar-powered outlets at the amenity deck.

Meanwhile, La Cassia will be a 16-story building with 238 units ranging from stu dio (up to 33 sq m), 1 bedroom (up to 49.5 sq m) and two bedrooms (up to 88 sq m).

Getting a milestone in going green M EAN wh ILE , the Gokongwei-backed RLC Residences got a windfall when it bagged

eight awards during the recently concluded Dot Property awards. Aside from captur ing Best Developer Metro Manila category, the firm’s Sierra Valley Gardens was named Best Sustainable Residential Development. Moreover, RLC Residences was also the re cipient of the Special Recognition Award for Community Building.

Sierra Valley Gardens, located be tween Cainta and Taytay, is just a couple of minutes away from Ortigas CBD and is also strategically located within top educational centers, cultural experiences, commercial centers and nature activities.

A total of 26 winners from across the Philippines were honored during the event.

“This year’s Dot Property Philippines Awards winners are playing a crucial role in the recovery of the real estate market. Their ability to deliver projects and ser vices that meet the changing needs of to day’s home seekers truly makes them the best,” Adam Sutcliffe, Dot Property Group Director, Events and International Mar kets, explained.

Reasons why Chimes Greenhills should be your home in the city

hOME to many popular establish ments, Greenhills is one of the most recognizable and soughtafter areas in Metro Manila. Its strategic location is perfect for professionals and families who seek a home in the city ready for their needs. RLC Residences offers

Chimes Greenhills, a ready-for-occupancy (RFO) property in Annapolis Street, for those looking for a new home with every thing within their reach.

“Given the location of Greenhills, it has become one of the desirable places that home seekers are aiming for. w ith Chimes Greenhills, we hope that our residents can feel at ease as soon as they come home, with so many possibilities right outside their door,” says RLC Residences Market ing h ead and Chief Integration Officer

Karen Cesario.

Greenhills is not a landmark location for nothing. h ere are the reasons why this place continues to be a prominent area in the Metro:

Home to prestigious schools

G REEN h ILLS is filled with recognized academic institutions, such as La Salle Greenhills, Xavier School, Immaculate Conception Academy, and O.B. Montes sori. Lourdes School of Mandaluyong and Saint Pedro Poveda College are also located nearby. Students can easily come to classes without the hassle of a long commute. And after a busy school day, student-residents of Chimes Greenhills can head straight to the property’s pool, game station, sky lounge, or sky garden to bond and unwind.

A true shopping destination L IVING at Greenhills means having major malls like Robinsons Galleria and Robin sons Magnolia within comfortable reach.

Also, this place is home to the Greenhills Shopping Center which boasts a total of 2,000 stores and stalls. This notable advan tage offers residents of Chimes Greenhills a slew of shopping options, be it designer boutiques, collectibles, or thrift stores. At the same time, they can also go for their

errands, eat out with friends and family, or go see the latest films at the cinemas without a hassle.

Connected to the entire Metro E VEN with all these establishments already within the area, Greenhills is also a gateway to the rest of the Metro. Several connect ing roads such as Ortigas Avenue, Santo lan Road, and w ilson Street are in close proximity. In addition, the Gilmore LRT and Santa Mesa PNR stations are also close by, as are terminals in Aurora Boulevard, Corazon de Jesus, and N. Domingo giving residents of Chimes Greenhills various op tions to choose from when going from one place to another.

The accessibility to hubs and destina tions makes Chimes Greenhills a truly ideal home within the city, especially for those who wish to explore the area or visit near by cities. w hether they’re students head ing to nearby schools, families looking to unwind after a long week, or professionals commuting to their offices in the area, the property’s strategic location makes any of these options easy and convenient.

“Chimes Greenhills is ready for its fu ture homeowners. Our units are all wellprepared and here for the taking, with ex citing deals for those who wish to own a home in a top-tier Metro Manila address,” invites Cesario.

Inside Chimes Greenhills’ 24 floors are studio, 1BR, 2BR, and 3BR units. You may even enjoy a discount of up to 7 percent on all units as well as the Early Move In promo, terms and conditions apply. Inter ested individuals may get in touch with one of RLC Residences’ Property Special ists through rlcresidences.com . Make sure to follow them on Facebook and Instagram for more updates.

Developers nowadays, especially the major ones, put a premium on sustainability not only in response to the environmental challenges but also to market demands.

T H e RLC team celebrates after bagging eight awards including the Best Residential Sustainable Development i in their Sierra Gardens Valley project in the recently concluded Dot Property Awards.

T H e high-ceiling function room at The Verdin allows residents to enjoy intimate gatherings and celebrations with their guests.

Cargo Movers back in full force, trounce erratic Army gals in PVL

F2LOGISTICS finally delivered with a full and healthy roster and behind superb hitting and pass ing trounced an erratic UAI-Army, 2517, 25-21, 25-16, to break through after back-to-back setbacks in the Premier Volleyball League Reinforced Confer ence eliminations at the PhilSports Arena in Pasig City on Tuesday.

The Cargo Movers slowed down their rivals’ attacks with great block ing, producing eight points upfront, while pouncing on the Lady Troopers’ miscues to complete the straight-set romp that put one of the league’s crowd drawers back in contention af ter a struggle due to a depleted lineup and health issues.

F2 did hardly move from joint last in the nine-team field to solo eighth but the Cargo Movers’ imposing vic tory should fire them up in their suc ceeding games, including their clash with the PLDT High Speed Hitters on October 25.

Lindsay Stalzer banged away 23 attack points for a 24-point output she spiked with 10 excellent recep tions while Kim Dy scored eight points and rookie Ivy Lacsina and veteran Aby Maraño added seven and five hits, respectively, for the Benson

Bocboc-mentored Cargo Movers.

Kalei Mau cramped out late in the second frame but not after scoring eight points and helping F2 crawl from three-point deficits to surge at 18-15 on their way to the four-point win.

“We were really hungry for a win. We knew it’s going to be a tough match but our preparations against Army were clearly specified,” said Stalzer, who, however, stressed there’s still a lot of work to do for the Cargo Movers to get better and stronger.

“Were still kind of fresh (playing together). But we’re working on our chemistry and we’re doing well from here,” added the American opposite hit ter, who didn’t see action in the team’s three-set loss to Chery Tiggo and fired 26 points in a close four-set defeat to Choco Mucho, both last week.

The same, however, could not be said Lady Troopers, who absorbed their third straight defeat in the season-ending conference of the league organized by Sports Vision.

F2 Logistics overwhelmed Army in attacks, coming through with 51 points against the latter’s 25. The Cargo Movers also made two aces and scored 24 points off their rivals’ miscues while yielding 10 unforced errors of their own.

HIDILYN TO CRITICS: GOD BLESS THEM

training for competition.

By Josef Ramos

‘Natl New Face’ taekwondo up

DIAZNARANJO won’t be throwing barbell weights on her bashers—regardless of how pathetically insulting their remarks are.

HIDILYN

She’s the Philippines’s first Olympic gold medalist, a national treasure. Simple.

“It’s just heart [to them],” Diaz Naranjo told BusinessMirror on Tuesday. “I just try my best to understand them and God bless them.”

Bashers took swipes at Diaz Naranjo after the 2021 Olympic weightlifting champion in Tokyo told a recent television interview that she needs funds for her training, first, to qualify for Paris 2024, and, second, if she qualifies for her fifth straight Olympics, her preparation and

“I’m focusing on my training and preparation, first, for my qualification for Paris,” said the 31-year-old Diaz Naranjo, who, according to financial experts, could have breached P100 million for her Olympic gold medal in terms of cash and non-cash bonuses and incentives and commercial endorsements.

But the bashers aren’t that many anyway—drop them into a pool of her supporters and they turn invisible.

“She’s not asking for something extra…just what’s minimum for her to fulfill her training and represent the Philippines to her highest capacity,” said world No. 3 pole vaulter Ernest John “EJ” Obiena, who was home for a vacation recently and had dinner with her in a reunion of sorts of Tokyo Olympians.

Philippine Olympic Committee (POC) President Rep. Abraham “Bambol” Tolentino and Philippine

Pradera Verde put to test anew men, women on PHL golf tour

THE men and ladies of the Philip pine Golf Tour (PGT) face a daunting test when the circuit returns to Pradera Verde next week with strong winds expected to blow from start to finish, adding up to the tricks and traps already in place at the long, challenging championship layout.

Wind conditions at the well-kept championship course at this time of the year are at their toughest with Pradera to test the players’ ability to adapt and their readiness for change that will require them to dish out a full array of shots while facing pen alty for the slightest miscue.

Juvic Pagunsan, who edged Tony Lascuña in sudden death to snatch the International Container Ter minal Services Inc. (ICTSI) Riviera Championship crown in a wild fin ish at Langer two weeks ago, won’t be around for the final leg of this year’s PGT, which fires off October 25, to honor a previous commitment to play in the Japan Golf Tour, his base the past decade.

But the Pradera Verde field remains as deep as ever with Michael Bibat back in the hunt after skipping the Riviera leg following a victory at Eagle Ridge-Aoki last July.

Sports Commission (PSC) Chairman Noli Eala showed concern for Diaz Naranjo.

Tolentino said Diaz Naranjo’s bashers don’t comprehend the dynamics of qualifying and winning in the Olympics.

“It’s part of the Olympic journey and it must be supported [financially],” said Tolentino, also the president of PhilCycling. “They’re just among the few and you can count them with your fingers.”

“We should remember that Hidilyn won the country’s first Olympic gold medal,” Tolentino added.

Eala called on the bashers to “stop the nonsense criticism” of Diaz.

“Hidilyn [Diaz] is considered a national treasure of Philippine sports. She brought unprecedented honor to our country,” Eala said. “Hidilyn will always have the support of the PSC.”

“I call on our kababayans

to stop uncalled bashing of Hidilyn. The matter of the alleged lack of funds for her training may simply be her determined wish to strengthen another shot at victory for our country,” Eala added.

Champon triathlete Nikko Huelgas, chairman of the POC’s Athletes Commission, said Diaz Naranjo’s critics, all of them online, don’t understand her situation.

“It’s really misunderstood and taken out of context. The financial status demands are of the highest standards to reach an Olympic gold medal,” Huelgas said. “It’s a huge investment…not just about talent and hard work and planning, but finance as well.”

Huelgas added: “Try to understand the situation of the Olympic level, it’s not easy. Just pray and believe that she can deliver another gold.”

Diaz and her team will fly to

Georgia in Atlanta on November 15 for a training camp for her participation in the International Weightlifting Federation World Championships from December 5 to 16 in Bogota, Colombia.

Only a world championship gold medal is missing in Diaz Naranjo’s collection.

NEWBIES and summer clinics campers get the feel of excitement and thrill in a competitive event as the Philippine Taekwondo Association (PTA) hosts the Smart/MVP Sports Foundation National New Face of the Year Taekwondo Championships this Saturday and Sunday at the Ninoy Aquino Stadium in Malate, Manila.

The event highlights the progress and development of young taekwondo practitioners as they trade styles and techniques against unfamiliar sparring opponents in the two-day competition supported by the Philippine Sports Commission, Philippine Olympic Committee and Milo.

The championship will feature all affiliated chapters and branches of PTA throughout Metro Manila and nearby provinces including the military branches of service.

PBBM TO PSC: Take care of athletes’ nutrition

PRESIDENT Ferdi nand “Bongbong” Marcos Jr. wants to put premium on national athletes’ nutritional needs, Philippine Sports Commission (PSC) Chairman Noli Eala said on Tuesday.

“I had a short audi ence with the President and his instruction was simple—put priority on the nutrition of athletes,” said Eala, who was in Malacañang last week during world No. 3 pole vaulter Ernest John “EJ” Obi ena’s courtesy call on the President.

“I believe that’s a policy direction that fits with the direction the PSC wanted to take,” Eala said.

Eala, who’s in his second month at the PSC helm, said he will continue the sports agency’s thrust of provid ing athletes with proper food and vitamins based on their needs in their particular sport.

In 2021, the PSC, through its Sports Nutrition Unit (SNU), started providing nutritional meals for ath letes during their bubble training at the Rizal Memorial Sports Complex and PhilSports Complex.

The PSC provides breakfast, lunch and dinner—as well as morning and afternoon snacks—to national team members, on top of specific meal plans

Philippines (UAAP) basketball tournament before a roaring crowd of more than 12,000 at the MOA Arena in Pasay City.

It was a night to remember for a plethora of reasons.

Just when everybody thought UP was all set to clinch it in regulation, Forthsky Padrigao, the foxiest of Ateneo’s guards, flung a three from Manila Bay, the ball hitting nothing but net.

Only 36.7 seconds remained when Padrigao, a rookie but already possessed with the adroit moves of a scarred veteran, used an Ange Kouame Great Wall-like screen to launch the game-extending three.

UP, RSA shine on different planes

UNIVERSITY of the Philippines (UP) grabbed last weekend’s spotlight by inflicting a 76-71 overtime loss to Ateneo in the University Athletic Association of the

And then in overtime, Padrigao threatened again.  He buried another triple from beyond the center line, the ball hitting the front rim, bounced off the glass and found the bottom of the goal.  That moved Ateneo to within two with still plenty of ticks remaining.

That’s when Carl Tamayo and Malick Diouf went to work again, sinking free throws from Ateneo’s desperation fouls to secure UP’s fourth win in five games to catch National University at the helm, while dropping Ateneo to 3-2 in a tie with La Salle and University of the East.

It was UP’s third overtime win over Ateneo the last two

years, including two in the Finals last year that led to the Maroons’ thrilling title triumph.

“I’m relieved today that we played better as a team” said UP coach Goldwyn Monteverde.  “We really got tested, but the good thing about it was we stayed together as a team on both ends.”

Said Ateneo coach Tab Baldwin:  “UP was disciplined in the end.  We had a couple of possessions to really win the game and we didn’t execute.”

UP did execute—through Tamayo, mostly.

“I am grateful for the trust of my teammates,” said Tamayo, a 6-foot-7 turbine with a future as bright as a sun at high noon.  “They made an effort to hand me the ball and push me to make those shots even though I struggled early.”

Tamayo, only 21, scored six of his game-high 20 points in overtime, including a three-point play off Kouame’s goal tending as UP went five points up inside the final two minutes.

This kid is a sight to behold, indeed.

THAT’S IT    Ramon S. Ang, fondly called RSA to those dear to him, does it again.  Owner of Philippine

for athletes to ensure that they get optimal nutrition for their training and help them become competition-ready.

The SNU offer daily online con sultations and lectures for national athletes and coaches on their meal plans to other nutritional queries for their training.

The PSC also promotes nutritional awareness among the athletes through its social media postings of pre-compe tition nutrition, easy-to-make snacks and what has been branded as the “Secret Menu to Success.”

In 2019 alone, 34,278 meals were served at the renovated nutrition halls at the Rizal Memorial Sports Complex and PhilSports Complex for athletes and coaches in the national pool.

Basketball Association teams Magnolia, Barangay Ginebra and San Miguel Beer, RSA gave yesterday P2 million each to the families of the five rescue workers who died while performing their duties at the height of storm “Karding” in San Miguel, Bulacan, on September 25.  Aside from the cash contribution, RSA also extended scholarships to the children of the fallen heroes, and start-up food businesses through Purefoods products, plus a freezer each, to the widows. RSA met and condoled with the widows and families of Troy Agustin, George Agustin, Marby Bartolome, Jerson Resurreccion and Narciso Calayag Jr. in the presence of Bulacan Governor Daniel Fernando and Bulacan 4th District Rep. Lorna Silverio at the SMC headquarters in Mandaluyong City.  “They inspire us to do selfless deeds in our everyday lives.  Their ultimate sacrifice in the line of duty will not be forgotten,” RSA said.  What a guy…Rotarians play “golf for a cause” today at Veterans course to celebrate PDG Dan Espinosa’s birthday for the Elmer Magnate Foundation’s charity thrust for the poor of some barangays of Quezon City.  Tournament director Jake P. Ayson wishes everybody to have fun.  Cheers!

PRESIDENT Ferdinand “Bongbong” Marcos Jr. gives his instructions to Philippine Sports Commission Chairman Noli Eala in Malacañang.

Lindsey Stalzer

HIDILYN DIAZ NARANJO is not solely an Olympic champion but a national treasure.