HE country’s balance of payments (BOP) position in September registered a surplus of $3.5 billion, the highest recorded in four years, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
The data showed that the BOP surplus last month was the highest since the $4.2 billion recorded in December 2020. In January to September, the BOP position recorded a surplus of $5.1 billion, also a four-year high.
“ The BOP surplus in September 2024 reflected inflows
mainly from the National Government’s [NG] net foreign currency deposits with the BSP and net income from the BSP’s investments abroad,” BSP said.
The cumulative BOP surplus reflected mainly the narrowing trade in goods deficit alongside the continued net inflows from personal remittances, trade in services, and net foreign borrowings by the NG. Furthermore, net foreign direct and portfolio investments contributed to the BOP surplus,” BSP said.
The data showed the BOP surplus in September was 3,907 percent higher than the $88 million surplus in August and was a reversal of the $414-million
deficit in September 2023. The BOP surplus in the ninemonth period was 194.8 percent higher than the $1.7 billion surplus recorded a year ago.
Th e September figure was also more than triple the yearto-date figure of $1.592 billion recorded in August.
The surplus allowed the country to have gross international reserves (GIR) of $112.7 billion as of end-September, higher than the $107.9 billion recorded in endAugust.
BSP said the latest GIR level represented 8.1 months’ worth of imports of goods and payments of services and primary income.
“Specifically, [this] ensures
availability of foreign exchange to meet balance of payments financing needs, such as for payment of imports and debt service, in extreme conditions when there are no export earnings or foreign loans,” BSP said.
Th e BSP also noted that the BOP figure is also about 4.5 times the country’s short-term external debt based on residual maturity. S hort-term debt based on residual maturity refers to outstanding external debt with original maturity of one year or less, plus principal payments on medium-and long-term loans of the public and private sectors falling due within the next 12 months.
TBy Reine Juvierre Alberto
HE Philippine Chamber of Cooperatives Inc. (Co-op Chamber) said modern vehicles purchased by transportation cooperatives to comply with the Public Utility Vehicle Modernization Program (PUVMP) should be exempted from the 12 percent valueadded tax (VAT).
C o-op Chamber Executive Director Edwin
A. Bustillos told the BusinessMirror that scrapping the 12 percent VAT slapped on vehicles purchased by transport cooperatives, which consist mostly of jeepney operators and drivers, will ease their financial burden.
Bustillos cited Section 70 (Tax and Other Exemptions) of Senate Bill 2811 or the Revised Cooperative Code of the Philippines which aims to remove the 12-percent VAT on modern vehicles purchased under the PUVMP.
Sa ganitong paraan, mababawasan din ng 12 percent ang ilalabas na pondo ng mga kooperatiba sa pagbili ng modernized jeeps. [In this way, cooperatives will not have to reduce their fund by 12 percent in buying modernized jeeps],” Bustillos said.
By Ma. Stella F. Arnaldo
THE national government’s decision to prioritize the improvement of tax collection over the implementation of “more progressive” tax policies is causing the country’s fiscal space to shrink, according to a United States-based think tank.
Th rough “more progressive tax policies,” such as taxing the wealthy, GlobalSource Partners said in a report that Manila could have generated more revenues.
Faced with the challenging task of collecting P4.3 trillion this year, the Department of Finance (DOF) remains firm in its stance to not introduce new taxes, saying it would continue to rely on improved tax collection to beef up the government’s coffers.
This has also been the case in previous years, which GlobalSource Partners said yielded limited results in the past, causing a retreat in fiscal space.
A s fiscal space compresses, the government went on a “borrowing spree” to finance its expenses, bloating its obligations.
It’s not surprising that the Philippine national government should increase its borrowings both from the local and external capital markets,” it said.
R evenues raised by the government reached P2.993 trillion as of end-August 2024 while expenditures amounted to P3.69 trillion,
THREADING TRADITIONS. A woman from Kalinga showcases her weaving skills at the recently concluded Asia-Pacific Ministerial Conference on Disaster Risk Reduction in Pasay City. One of the exhibits featured traditional weaving, presented by the School of Living Traditions, which aims to preserve and pass on the knowledge and skills of elders and cultural masters to young learners, ensuring the continuation of their heritage. NONIE REYES
leaving the state with a fiscal deficit of P697 billion.
To finance its spending, the state increased its reliance on borrowing, acquiring P1.53 trillion from the domestic debt market and P121 billion from foreign sources, on a net basis to also service older loans. The remaining funds came from the government’s cash reserves.
Th is year, the government raised $2.5 billion from triple-tranche US dollar global bonds in August and $2 billion from dual-tranche US dollar bond offering in May. Another $500 million will be raised through yendenominated securities.
A ll these borrowings pushed the government’s total debt to P15.550 trillion as of the end of August, accounting for 61 percent of the country’s GDP. Debt servicing also rose to P1.550 trillion as of end-August 2024, 33.50 percent higher than the P1.161 trillion debt payments in the same period a year ago. The imperative to raise more funds by borrowing could have also been motivated by the need to finance infrastructure projects and social services as well as probably various forms of pork barrel projects by some legislators,” it noted.
GlobalSource Partners warned that if the government fails to meet its growth target of 6 to 7 percent this year, more borrowings will occur and the mediumterm fiscal sustainability will be at risk.
T he Philippine economy expanded by 6.3 percent in the second quarter of 2024, well within the government’s target of 6 percent to 7 percent. Reine Juvierre Alberto
‘EU deforestation regulation may include more products’
By Andrea E. San Juan @andreasanjuan
MORE commodities may be covered by the EU Deforestation Regulation (EUDR) after the completion of a one-year review by June 2025, according to the International Trade Centre (ITC), the joint agency of the United Nations and the World Trade Organization.
Quoting Michaela Summerer, junior professional officer at the ITC, the Philippine Exporters Confederation Inc. (Philexport) said in a statement over the weekend that there is a “foreseen inclusion” of additional products in the regulation’s scope after the completion of the review, with particular consideration of maize and biodiesel.
“ This hasn’t been confirmed yet but this is something that is already part of the regulation,” Sumerer said in a workshop organized by the Department of Trade and Industry-Export Marketing Bureau.
S he also noted that there will be a regular review of the regulation itself and the impact it has and t hen “potentially” more commodities and products will be included u nder the scope.
Set to take effect on December 30, the EUDR prohibits the placing or
making available listed commodities and products on the EU market or exporting them from the EU, unless they are deforestation-free and have been also produced in accordance with relevant legislation of the country of production, the ITC official said.
The seven commodities covered by the EUDR are palm oil, soy, wood, cocoa, coffee, cattle and rubber—and many “derived” products such as leather, chocolate and furniture.
Meanwhile, Mathieu Lamolle, Senior Advisor Sustainability Standards and Value Chains at ITC, said t he main requirements of EUDR include data-collection on deforestation-free and those ensuring that products can be legally produced.
L amolle said products must be produced on land that has not been subject to deforestation after December 31, 2020.
For any deforestation that had occurred after December 2020, those products would not be permitted, allowed to go into the EU market,” he said. “And deforestation is basically defined in the regulation as being the conversion of the forest into an agricultural use, whether humaninduced or not.”
On the legality requirement, Lamolle said products must be produced in accordance with laws on l and use rights; environmental pro -
tection; forest-related rules, including forest management and biodiversity and conservation; and tax anti-corruption, trade and customs regulations, a mong others.
He also advised businesses to conduct risk assessment to ensure that the information that they are collecting mostly from their suppliers is accurate and reliable, and then risk mitigation, Philexport noted.
“So, in case there is any risk, that the information would be incomplete or there would be some deforestation link to the product, those operators have the legal obligation to risk assessment and risk mitigation. It this is very important to understand that the liability is to the operators, they will face sanctions in case there are inspections and they realize that the products are not [deforestation]-free,” he added.
L amolle said operators or companies placing listed products on the E U market must also submit a due
Tieza…
and operate such a facility to cater to the needs of Boracay tourists.”
Data provided by the Department of Tourism, the parent unit of Tieza, showed that from January to September 2024, some 1.57 million tourists arrived in Boracay, just 4.84 percent less than the arrivals in the same period in 2023.
Travel taxes for 2025
FOR the Moalboal property, which is around 716,000 square meters, Tieza is eyeing a “business case study,” he said, although the agency earlier tagged it as “ideal for residential and resort development” as the area is a popular dive destination. The Kang-Irag property measuring 945,413 sq m, is the current site of a golf course. For Balacad, Tieza is eyeing the development of an integrated tourism complex on a property measuring 123,387 sq m. “But interested investors can always present what their other concepts may be for these properties,” said Lapid.
Th is developed as Tieza projected to collect about P6.85 billion in travel taxes for 2025, up 3.8 percent than the estimated P6.6 billion. Per law, Tieza is allowed to retain 50 percent of said taxes to fund its operations, while the rest are distributed among the Commission on Higher Education (40 percent) and the National Commission on Culture and the Arts (10 percent). As of August 2024, total travel taxes collected reached some P4.68 billion. Under the National Expenditure Program for 2025, Tieza proposed a budget of P3.8 billion, up 22.3 percent from this year’s approved budget of P3.1 billion. Of the proposed budget for 2025, some P2.07 billion will be used for infrastructure projects
diligence statement to the EU register containing information on products, confirming that due diligence w as carried out, and that no or only negligible risk of non-compliance was found.
Due diligence statement is actually the certificate, the self declaration t hat the company, the operator has done everything possible to ensure that there is no deforestation associated with their products and once they have done the due diligence statement, the declaration that they are all fine, then only they can start placing the product on the EU market,” he said.
I n cases of non-compliance, Summerer said penalties must be “effective, proportionate and dissuasive.”
“[These] can include fines, confiscation of products, confiscation of revenues and temporary exclusion from public procurement processes,” she said.
Continued from A1
(roughly 55-percent share), and is a 33.6-percent increase from this year’s infrastructure allocation of P1.55 billion. The rest of next year’s budget will be used for maintenance and operating expenses (P926.44 million), personnel services (P611.17 million), equipment outlay (P116.234 million), and an investment outlay (P33.7 million).
Budget utilized
IT has also allocated P32.94 million to service a Y1.35-million loan from the Japan International Cooperation Agency, which was contracted i n 1995 by Tieza’s predecessor, the Philippine Tourism Authority, to implement the Boracay environmental infrastructure project. This included the establishment of a water regulator and concessionaire on the island. The seven-year loan was last disbursed in December 2002.
Other sources of funds for Tieza in 2025 include gross receipts from the operation of entities (P168.57 million), fees and other charges from tourism economic zones (P475,000), concession fees (P67.66 million), and other sources (P36.23 million), which Lapid said came from the “income of rentals [from properties].”
As of August 2024, Tieza had utilized 65 percent or P2 billion of its P3.72billion budget for the year.
At the recent budget briefing of the DOT and its agencies with Legarda, the latter said she was inclined to introduce an amendment to the agency’s budget for tourism roads infrastructure, or include this in Tieza’s budget.
(See, “DBM, DPWH nix new tourism roads’ funding” in the BusinessMirror, October 15, 2024.)
Continued from A10
contract. By allowing these activities to take place earlier, developers can better prepare for project implementation and address potential challenges proactively.
This streamlined approach not only accelerates the project timeline but also enhances the overall efficiency of the development process, the DOE said.
The COA is valid for five years for offshore wind projects, three years for biomass, geothermal, hydropower, ocean and onshore wind projects, two years for floating solar, and one year for land based solar projects.
Additionally, the revised omnibus guidelines simplified the process for obtaining incentives for RE projects. Developers may now secure a certificate of registration (COR) from the DOE after confirming the commercial viability of their projects.
n the case of biomass and solar energy projects, developers can secure the COR after achieving financing closure.
The DOE is also streamlining the permitting processes through its Energy Virtual OneStop Shop (EVOSS) System. Currently, several processes are in the pipeline for incorporation
Continued from A1
The group also urged the government to expand the coverage of the Comprehensive Automotive Resurgence Strategy (CARS) program to include the PUVMP.
Bustillos said the CARS program will provide incentives to local manufacturers to do their assembly here in the Philippines which will eventually cut the prices of modernized jeepneys.
Under the CARS program, participants have to produce at least 200,000 units of their enrolled vehicle within six years to be eligible for fiscal support amounting to P9 billion.
D espite calls to stop the PUVMP and the suspension of government financing, cooperatives said they are prepared for its full rollout.
Senators have signed a petition to halt the PUVMP while the Development Bank of the Philippines (DBP) ceased lending to transport cooperatives in Metro Manila and areas without approved route plans.
Oro Transport Service Cooperative Manager Samuel Abello told reporters that the PUVMP remains a “viable” project as there are other financers aside from state-run banks.
There should be political will. If there’s a plan already, it should be implemented,” Abello said.
Co-op Chamber said the PUVMP has been in the works for some time, gaining momentum in 2017 and continued by the Marcos administration.
The co-ops have already invested huge amounts of money on monthly amortization to financial institutions such as Landbank and DBP; therefore, suspending the program will only create more financial problems for the cooperatives,” it said.
C iting data from the Department of Transportation (DOTr) and Land Transportation Franchising and Regulatory Board (LTFRB), 83.3 percent of the nationwide Industry Franchise Consolidation has been completed.
“Suspending the program would only bring hardship to individual operators and drivers who have found success by forming these cooperatives,” it added.
The group suggested institutionalizing the PUVMP through legislation as well as for the government to provide subsidies and tax incentives.
It urged the government to finalize the Local Public Transport Route Plan, which is expected to the completed in 2026. The plan outlines the route network, mode and required number of PUVs per mode.
L ocal government units are also encouraged to provide free common terminals to pick up and drop off passengers without additional costs.
into the EVOSS System, now at various stages of development, either further streamlining, system development or testing.
“ These streamlined procedures are designed to promote investments in the renewable energy sector by reducing bureaucratic hurdles, and avoidance of service contract termination, ultimately supporting our country’s transition to a more sustainable energy landscape,” Guevara said. Aside from the revised guidelines, the DOE conducts periodic evaluations to monitor the progress of RE development projects to ensure their timely implementation.
More RE auctions
THE DOE is targeting to conduct another round of green energy auction (GEA) within the year.
“Our target for the Green Energy Auction 3 is to finish it before the end of the year such that the pump-storge hydro, about 3,000 megawatts, will be able to come in about five years from now,” Guevara earlier said.
The GEA-3 will specifically cater to NonFeed-In-Tariff (Non-FIT) Eligible RE technolo -
gies such as geothermal, impounding hydro and pumped-storage hydro under Department Circular No. DC2023-10-0029 which provides specific auction policy and guidelines for these non-FIT (feed-in-tariff) RE technologies in the GEA program. The GEA-3 will also include run-of-river (ROR) hydro, which is a FIT-eligible RE technology. The estimated capacities for non-FIT Eligible RE technologies are: 699 MW from impounding hydro; 3,120 MW from pumpedstorage hydro; and 380 MW from geothermal. The target delivery commencement period (DCP) for both impounding hydro and pumped-storage hydro shall be from 2028 to 2030 while for geothermal, the DCP shall be from 2024 to 2030. An estimated 200 MW of RE capacity from ROR hydro is expected to be auctioned, with a target DCP beginning 2026 to 2028. The other auctions lined up by the DOE are the GEA4 and GEA5.
GEA 4 is designed to cover Integrated Renewable Energy and Energy Storage System (IRESS) while GEA5 covers offshore wind. IRESS is a comprehensive energy solution that combines RE technology with energy storage systems (ESS). It involves the integration of RE sources with energy storage technologies like batteries, flywheel or pumped storage hydropower systems.
Congressmen to Sara: Act responsibly
By Jovee Marie N. dela Cruz @joveemarie
MEMBERS of the House of Representatives on Sunday urged Vice President Sara Duterte to act responsibly and explain how she spent the confidential funds allocated to her office instead of resorting to blame-shifting and divisive rhetoric.
House Deputy Majority Leader and Tingog Rep. Jude A. Acidre called on Duterte to address the issue, stressing that the public deserves respect and accountability. “It’s very disturbing to see
4Ps party-list group gets top ballot slot
By Justine Xyrah Garcia
THE Pagtibayin at Palaguin
ang Pangkabuhayang Pilipino (4Ps) party-list group secured the coveted top position on the ballot for the 2025 midterm elections, following a raffle conducted by the Commission on Elections on Friday.
The party-list group, which faced allegations in 2022 of copying the acronym and public association of the Department of Social Welfare and Development’s Pantawid Pamilyang Pilipino Program (commonly known as 4Ps), managed to outshine 155 other accredited party-list groups in securing the prime spot.
Coming in second and third were the Puwersa ng Pilipinong Pandagat (PPP) and FPJ Panday Bayanihan (FPJ), respectively, two groups that aim to push for fishermen’s rights and food security.
Youth-focused groups like Kabataan and Duty to Energize the Republic Through the Enlightenment of the Youth (Duterte Youth) followed closely, securing the fourth and fifth slots on the ballot.
Rounding out the top 10 slots were Mamamayang Liberal (ML), Pilipinas Babangon Muli (PBBM), Komunidad ng Pamilya Pasyente at Persons with Disabilities (P3PWD), Murang Kuryente, and Bicol Saro.
Historically, landing on the top position in the ballot was considered advantageous, as groups appearing first on the list often benefit from increased visibility.
For years, this has driven many party-lists to adopt names starting with “A” or numbers like “1” to ensure higher placement.
However, since the implementation of a raffle system in 2022 to determine ballot placement, the trend of alphabetically-named groups has declined.
Comelec Chairman George Erwin Garcia noted that fewer groups now resort to such tactics.
“ Hindi na halos nagsisimula sa ‘A’ kasi alam nila sa bandang
huli, hindi magiging basehan ang pagkakasunod - sunod iyong alphabetical arrangement natin ,” Garcia explained.
(Party-list groups no longer start their names with ‘A’ because they know that in the end, the alphabetical order won’t be the basis for the sequence.)
Plea to winning party-list groups
AS election day approaches, the poll chief urged the political aspirants to focus on improving the country’s party-list system, emphasizing the need to review the Republic Act 7941, also known as the Party-List System Act.
Sana po tulungan niyo ang [Comelec]. Sana po iyong mga nominado niyo na magiging mga miyembro ng Kongreso , mabigyan ng tuon ang RA 7941 natin,” Garcia said.
(Please help the Comelec. I hope your nominees who will become members of Congress will ammend our RA 7941.)
In an ambush interview, he explained that there is a need to completely “overhaul” RA 7941 to address growing concerns regarding the true representation of marginalized and underrepresented sectors, and to reassess the qualifications of party-list nominees.
Under the current provisions of the law, party-list groups are intended to represent marginalized groups in society. However, questions have arisen over whether some nominees truly represent these sectors or are merely political proxies.
While the system should not be abolished, Garcia said that reforms are necessary to maintain the credibility of the party-list system.
“It should be studied and reevaluated because the Comelec is being blamed for how it evaluates,” he said. “We should show to the people that the party-list system is a system that is credible, a system that has integrity, a system that deserves the attention of our people.”
Survey shows Villafuerte, Salceda as top performing Bicol legislators
the second highest official of the country resorting to petty threats, childish threats. Can she not make sense of the P125 million in confidential funds that she must have enjoyed for spending it in just 11 days?” Acidre, chairman of the House Committee on Overseas Workers Affairs, asked.
“I mean, these are very serious issues that need to be explained well. Confidential and intelligence funds—by whatever name you call it—are still public funds that are derived from money that every ordinary Filipino pays in the form of taxes. It’s hard-earned money for them,” Acidre added.
Acidre observed that the former Davao City mayor and education secretary seems to fit the
description of the classic case of a government official who is “feeling entitled.”
“Those who cannot win an argument intelligently resort to the use of their fists or violence. Her display of arrogance only shows what she thinks of our democratic institutions and norms,” Acidre said. “Her demeanor in the press conference, as usual, says it all. It’s very telling.”
“Our most respected VP should stop being childish. She only showed how selfish and self-centered she is. She could not even engage lawmakers in discussions about the CIF and disallowed funds intelligently. And she’s supposed to be a lawyer—only one of unbecoming at that,” he said.
Failures
MEANWHILE, Senior Deputy Speaker Aurelio Gonzales Jr. and House Majority Leader Manuel Jose Dalipe said Duterte’s recent criticisms for implying President Marcos lacks leadership skills, saying that she, not the Chief Executive, is the one who embodies poor leadership.
“It’s Vice President Duterte, not President Marcos, who has failed as a leader. She mismanaged public funds and let the Department of Education (DepEd) fall apart under her watch,” Gonzales pointed out.
“The country’s disastrous performance in the PISA, showing a five- to six-year lag in learning competencies, is a direct result of her failed leadership,” he added,
referring to the 2022 Programme for International Student Assessment. Dalipe echoed the sentiment, calling Duterte’s resignation from DepEd “the best decision she ever made.”
“Her departure saved the education system from further decline. Under her, DepEd was in free fall, and the entire education sector suffered,” Dalipe said.
“The appointment of President Marcos by Secretary Sonny Angara is a huge step toward repairing the damage she left behind,” he added. Both leaders slammed Duterte’s recent outburst as a diversionary tactic to avoid addressing her own failures, particularly in managing public funds.
NBI files cases vs former local civil registrar, others for issuing birth certificates to Chinese nationals
By Manuel T. Cayon @awimailbox
DAVAO CITY—The National Bureau of Investigation here filed 44 counts of civil registry violations against four persons in Santa Cruz town, Davao del Sur, including its civil registrar, for allegedly issuing birth certificates to Chinese nationals, many of whom were found involved in the offshore gaming scandals.
The Philippine Information Agency said Geraldo de Luna, special investigator III of the NBI South Mindanao Regional Office (NBI-Semro) said cases of violation to civil registry status, falsification of public documents and graft and corruption were filed against Mario Tizon, the local civil registrar of the town, and his clerks who received and processed the documents.
De Luna disclosed the information during the media forum here
hosted by the PIA early this month.
He said 44 counts of the cases were filed at the Office of the Deputy Ombudsman for Mindanao on different times, on August 19, September 10, and September 18.
Lawyer Arcelito Albao, regional director of the NBI Semro, said additional cases were likely to be filed this month depending on what they would still uncover with the spurious birth certificates.
“We started with one hundred birth certificates and then 200 birth certificates, and eventually capped with 1,500 birth certificates issued to Chinese nationals in our investigation,” Albao told the Kapehan sa Bagong Pilipinas media forum.
He said they also filed a case for falsification of public documents against a Chinese respondent, who the NBI arrested after it was tipped off by the Davao office of the Department of Foreign Affairs.
Albao said the Chinese national
used Limosnero as his surname, but the NBI said his real name was Qu Jan Lim.
The investigation led to the uncovering of more issuances of spurious birth certificates to Chinese nationals.
De Luna said initial investigation found 56 birth certificates with Chinese-sounding family names that dated back to issuances from 2018. He said 20 birth certificates were discovered in 2019, and 24 birth certificates in 2021.
De Luna said they decided to charge the Chinese nationals who figured in the birth certificate, perjury cases since they were under-oath when they signed the document.
“They have direct and active participation in the process. They receive this application, they prepare and they register, using their names and signature,” de Luna said.
He said they are studying what
cases they will file against the middle men who facilitated the processing of the birth certficates.
Santa Cruz Mayor Jose Nelson Z. Sala Sr. has already suspended and did not renew the job-order contract of the three others after assuring authorities that the LCR personnel “will certainly be subjected to appropriate administrative actions”.
“Rest assured that our LGU [local government unit] is doing its best to ensure that the rule of law will prevail and that its workforce are observing appropriate regulations and standards in the performance of their functions,” Sala said.
He said the municipality only knew on Thursday about the apprehension of a 21-year-old Chinese national in Davao City who applied for a Philippine passport using a fictitious birth document he obtained from Santa Cruz’s Local Civil Registry.
Marcos attends inauguration of new Indonesia president
By Samuel P. Medenilla @sam_medenilla
REAFFIRMING the country’s close ties with Indonesia, President Marcos attended the inauguration of Indonesian President Prabowo Subianto and Vice President Gibran Rakumbing Raka at the People’s Consultative Assembly-House of Representatives in Jakarta, Indonesia.
The Chief Executive was ac -
companied by First Lady Louise Araneta-Marcos during the swearing-in ceremony, which was attended by other state leaders and representatives, on Sunday.
The Marcoses flew to Indonesia on Saturday upon the invitation of former Indonesian President Joko Widodo, who was succeeded by Prabowo, a 73-year-old former special forces commander.
Joko’s eldest son, Gibran, became the new vice president of Indonesia.
After the ceremony, the President and First Lady were able to personally congratulate Prabowo and Gibran, when both Indonesian officials approached the high profile guests at the event.
“I congratulate President Prabowo Subianto and Vice President Gibran Rakabuming Raka on their inauguration in Jakarta today,” Marcos said in a statement.
Marcos’s latest visit to Indonesia is his fourth since he won the presidency in 2022. It comes as the
More than 500 Pinoys repatriated from Lebanon
THE number of repatriated Filipinos in Lebanon has breached the 500 mark, the Department of Migrant Workers (DMW) said on Sunday.
This after the government was able to bring home the 73rd batch of repatriates from the conflict-torn Lebanon composed
Edcel Lagman (First
of 45 Filipino workers and two dependents last week.
Since the government started its voluntary repatriation efforts in Lebanon in October 2023, DMW said a total of 525 Filipino workers and 30 dependents have been brought home from the Middle East country.
The number is expected to
District), who tied for third with respective scores of 87.1 percent and 86.9 percent. Also in the top five are two more Camarines Sur representatives: Tsuyoshi Anthony Horibata (First District), who ranked fourth with 85.4 percent, and Miguel Luis Villafuerte (Fifth District), with 84.2 percent at fifth place.
RPMD emphasized that the assessment, conducted in the second quarter of the year, evaluated legislators based on their district representation, legislative efforts,
increase in the coming weeks once the Lebanese immigration agency issues the exit clearance to around 500 Filipinos.
Migrant advocate group Migrante International expressed concern over the slow pace of the issuance of clearances to the Filipinos in Lebanon. In a manifesto, it urged the
and constituent services. According to Paul Martinez, executive director of RPMD, the survey plays a vital role in promoting transparency and accountability by offering real-time insights into lawmakers’ performance.
“These assessments not only spotlight areas for growth but also ensure that elected officials remain aligned with the priorities of their constituents. By empowering voters with up-to-date information on their Representatives’
Philippines and Indonesia are celebrating the 75th anniversary of their formal diplomatic relations this year.
The Palace said that Marcos is expected to return home on Monday.
Indonesia and Singapore were the first countries visited by Marcos since he became President. He returned to the Southeast Asian country last year for the 42nd and 43rd Association of Southeast Asian (Asean) Summits.
government to communicate with the Lebanese officials to “remove the exit clearance requirement and coordinate with ground efforts to swift safe passage of Filipinos in conflict areas” in Lebanon.
It also called on concerned government agencies to publicly disclose its contingency plan to evacuate the estimated 11,000
See “Lebanon,” A4
work, the surveys enable more informed decisions during elections,” Martinez added. The RPMD said its “Boses ng Bayan” survey was part of its broader nationwide second-quarter study, which surveyed 10,000 respondents. With a margin of error of ±1% and a confidence level of 95 percent, the survey provides a reliable snapshot of public sentiment within each district, the pollster said. Jovee Marie N. dela Cruz
Monday, October 21, 2024
ERC urged not to skip Meralco rate reset
By Lenie Lectura @llectura
THE Energy Regulatory Commission (ERC) was told not to forgo the fifth regulatory reset of the Manila Electric Company’s (Meralco) distribution rate, covering the period 2022-2026, warning that the move could lead to higher electricity bills for consumers.
Instead, the ERC must come up with a study that would enable it to catch up with its review of rates of various stakeholders in the power sector.
“As consumers, we are ex -
pressing our opposition to the ERC’s decision to forego the fifth regulatory reset of Meralco’s distribution rate. The rate must go through the resetting process,” Sen. Sherwin Gatchalian told ERC
officials at a recent Senate hearing on the proposed 2025 budget of the Department of Energy and its attached agencies, including the ERC, last week.
A rate reset is a periodic process conducted by the ERC to review and adjust distribution rates charged by utilities like Meralco. It ensures rates reflect the actual costs of delivering electricity, considering factors such as inflation, operational expenses, and the Weighted Average Cost of Capital (WACC).
Meralco’s current WACC is 14.97 percent, and it has not been updated since 2015.
“Why require a rate reset if the ERC isn’t even conducting it? The regulator itself is not keeping up with the pace,” said Gatchalian.
The vice-chairman of the Senate Committee on Energy said a
similar rate reset was applied to the National Grid Corporation of the Philippines. “We must apply the same rules to Meralco. Given its market power and status as a natural monopoly in Metro Manila and nearby areas, Meralco has to undergo a rate reset as well,” Gatchalian said.
Gatchalian expressed concern that without the rate reset, Meralco’s charges may not reflect the current economic conditions, potentially resulting in increased costs for households and businesses. “That is not fair for consumers. Meralco cannot maintain 14 percent for the next four years. Historically the reset was purely an extension. Wala naman on time na reset, hindi ba? Siguro noong 2001 lang pero after that, puro delayed na , ” he pointed out.
Meanwhile, Gatchalian urged the National Power Corporation
PHL, France strengthen cooperation on marine conservation
TBy Rizal Raoul Reyes @brownindio
HE Philippines and France recently vowed to strengthen their cooperation in ensuring marine conservation.
Key government officials from the Philippines and local and foreign experts on biodiversity gathered together for the first of a series of biodiversity conferences or Blue Talks between the Philippines and France.
The first conference, organized by the Stratbase ADR Institute, in partnership with the Embassy of France in the Philippines, aims to strengthen cooperation between the Philippines and France on biodiversity conservation.
French Ambassador to the Philippines
Marie Fontanel explained that the Blue Talk conference is part of the Blue Nations initiative, a holistic program of bilateral cooperation between the France and Philippines in the perspective of working together as two maritime nations towards
the next United Nations Ocean Conference (Unoc), which will take place in France in June 2025.
“It was very important to start this cycle of five conferences with a discussion on biodiversity, because this subject will be at the core center of the next Unoc in France…
Discussions on marine biodiversity and biodiversity conservation is also very important because the Philippines, an archipelagic state made up of more than 7,100 islands, maintains an existential link with the ocean,” Fontanel said.
“The purpose of this conference is to foster the dialogue between all stakeholders in order to identify successful ways and ideas to help the policymakers and every one of us, better protect and preserve the biodiversity that we all depend on,” she added.
Fontanel said the second Blue Talk conference will take place on November 21 and will explore the possibility of having a maritime dialogue between France and the Philippines.
Stratbase ADR Institute President Victor Andres Manhit noted the importance of working with like-minded states like France in protecting the Philippine marine environment for future generations.
“The development of a blue economy is a crucial step towards sustainable growth, and today’s collaboration with the Embassy of France offers a valuable opportunity to strengthen partnerships with like-minded nations. France, a staunch advocate for ocean and marine biodiversity protection, serves as a key ally in this endeavor,” Manhit said.
“This conference has underscored the many benefits of sustainable ocean use and conservation, from ensuring food security to boosting livelihoods, trade, and connectivity. It is essential that we give this industry the attention it deserves given the increasing threats posed by climate change,” he added.
Environment Undersecretary Ernesto Adobo Jr, who is also supervising the Biodiversity Management Bureau,
emphasized the importance of collaborations between the Philippines and France in enhancing political, scientific, and civic engagement in environment protection, climate action, blue economy, and maritime security.
“We need to ensure the sustainability not only of our use of marine biodiversity, but also of our conservation, restoration, and regeneration efforts. We can only do this through cooperation. Indeed, this event is the fruit of the remarkable partnership between the Embassy of France in the Philippines and the Stratbase ADR Institute,” Adobo said.
“Undoubtedly, the triple planetary crisis, biodiversity loss, climate change, and pollution have interlinkages with, among others, the economy, food and water security, peacemaking, and human health, and well-being. Our cooperation with the Embassy of France and the Stratbase ADR Institute contributed efforts to mainstream environmental and biodiversity considerations into various sectors,” he added.
Include mental health disorders in PhilHealth benefit package–Villar
ABy Jovee Marie N. dela Cruz @joveemarie
DEPUTY Speaker has proposed the inclusion of mental health disorders in the benefit packages of the Philippine Health Insurance Corporation (PhilHealth).
(NPC) to look for ways how it can bring down the universal charge for missionary electrification (UCME) subsidy in order to reduce electricity rates for consumers connected to the main transmission grid.
UCME is used to subsidize the more expensive cost of providing electricity in off-grid areas. However, the UCME subsidy has steadily increased over the years, from P7.34 billion in 2015 to P24.62 billion in 2024.
Currently, NPC is pushing to accelerate the hybridization of its Small Power Utilities Group (SPUG) diesel power plants using renewable energy resources.
According to the NPC, hybridization lowers the cost of energy by P2 to 3 per kilowatt hour. The NPC said that with the completion of hybridization for 16 projects, the NPC expects
to generate up to P1.3 billion in savings from fuel costs by 2025. The NPC, however, accounts for only 30 percent of the energy supply in missionary areas, while 70 percent is provided by new power providers (NPPs).
“How do we convince the NPPs, which account for 70 percent, to hybridize? I understand they have supply contracts, so we should explore the possibility of incentivizing or compelling them, if necessary, to hybridize. The UCME subsidy is steadily increasing,” the senator said. At the same time, Gatchalian urged the NPC to pursue a rationalization study of the UCME that the DOE has conducted.
According to the DOE, the islands of Palawan and Mindoro account for about 60 percent of the UCME subsidy.
Legislator hopes for stronger labor protection for movie, TV workers
ASENIOR lawmaker hopes for stronger labor protection and fairer compensation for movie and TV industry workers, especially those in nontraditional roles and schedules, following the release of the implementing rules (IRR) for Republic Act 11996, or the “Eddie Garcia Act,” by the Department of Labor and Employment (Dole).
Camarines Sur Rep. Luis Raymund Villafuerte, in a statement, said this law will significantly improve working conditions for actors, production staff, and independent contractors in the industry, such as those involved in the distribution and exhibition of content.
promotion of decent work, and equality of employment opportunities for all movie and television industry workers.” Under the IRR, film and TV workers must be provided with contracts detailing job positions, just compensation commensurate with skills and competencies, normal working hours of eight hours and not over 14 hours or no longer than 60 hours weekly, social security benefits, and insurance against accidents at no cost to them, said Laguesma.
“This bill also addresses the rising costs of mental health treatment by mandating an appropriate increase in PhilHealth’s benefit package taking into consideration the current costs in medical services,” she said.
Villar also filed HB 10929 calling for the grant of mental health wellness leaves to all workers in the country.
“It is the hope of this bill to increase
In House Bill 10934, House Deputy Speaker Camille Villar also sought the grant of a three-day mental health wellness leave to employees of both the public and private sectors. In pushing for the inclusion of mental health disorders under the coverage of PhilHealth, Villar cited the Mental Health Strategic Plan 2019-2023 of the Philippine Council for Mental Health showing that 3.3 percent of the country’s population, or around 3.3 million Filipinos, live with depression, with a suicide mortality rate pegged at 3.2 per 100,000 population. She proposed that the benefit package shall cover emergency services, psychiatric and neurological services, and Mental Health Gap Action Program, and therapy sessions.
Customs
seizes ₧72 billion contraband
By Reine Juvierre Alberto @reine_alberto
THE Bureau of Customs (BOC) seized P72.091 billion worth of smuggled goods, including illegal drugs, petroleum products, agricultural goods and various commodities, from January to October 2024. In a statement on Sunday, Customs Commissioner Bienvenido Y. Rubio said the BOC conducted 1,414 operations as of October 2024, which yielded a total of P72.091 billion in smuggled goods.
labor productivity and efficiency and raise awareness of the importance of mental health not only for the individual well-being of the employees but also for the overall health and well-being of our nation,” she also said.
Villar said the proposed measure will also complement Republic Act 11036, or the Mental Health Act, which affirms the right of all Filipinos to mental health and the fundamental rights of people who require mental health services.
tural products to entrepreneurs whose businesses are choked by unfair trade,” Recto said.
“With the Dole’s recent issuance of the IRR of the Eddie Garcia Act,” we look forward to our actors and other workers in the film and TV industry soon having a safer environment in their workplace along with proper compensation and other benefits for their unconventional work schedules,” Villafuerte, a principal author of RA 11996, said.
“This law, as provided for in the labor protection features of the DOLE-issued IRR, will from hereon benefit all industry workers, including independent contractors hired to do production work and other services like distribution and exhibition of content, and to include out-of-town shoots and/or lock-in production work that require them to stay in location sites for 24 hours straight or even for several days or months,” he said.
The IRR provides, too, he said, for the responsibilities of employers, such as the provision of safe working conditions, including first aid, proper safety equipment, and regular safety meetings, as well as compliance with safety standards set under existing laws and the submission of safety programs to Dole. It also requires adequate meals, safe drinking water, proper rest facilities, and accommodation for all covered workers, and slaps on IRR violators a fine ranging from P100,000 to P500,000.
“With each of us having diverse expertise in the field of intelligence, we are afforded the opportunity to achieve far more collectively than any agency could accomplish alone,” Rubio said. For October 2024 alone, the BOC seized P3.09 billion worth of smuggled goods. About P2.3 billion worth of various commodities, such as fake branded apparel, accesories and electronics were seized.
This comes during the BOC’s Inter-Agency Intelligence Summit on October 18, 2024, in Batangas, attended by intelligence units from 67 government agencies in Regions IV-A (Calabarzon), IV-B (Mimaropa) and V (Bicol Region).
Illicit cigarettes amounting to P22.3 billion and a P402 million vessel carrying smuggled petroleum products were also intercepted by the BOC.
Additionally, P42.16 million worth of illegal drugs was confiscated at the Ninoy Aquino International Airport as well as P23 million worth of smuggled rice.
“This proves that our combined efforts are not only effective, but essential in combatting smuggling and other illicit activities,” Rubio said.
Meanwhile, Finance Secretary Ralph G. Recto underscored the Bureau’s use of traditional and modern methods in curbing smuggling activities.
“In the case of smuggling of goods, it is a crime that victimizes million—from farmers who drown from the flood of imported agricul-
DPWH completes road enhancements in Nueva
Ecija
in
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and
Further, Recto explained intelligence is the “vanguard” of law enforcement, relying on information instead of mobilizing armed group to stop illicit activities.
“It is an economical form of warfare because good intelligence saves lives, disarms threats, defuse tensions and stop conflicts and crimes from happening,” the Finance chief said.
The intelligence summit, Deputy Commissioner for Intelligence Group Juvymax Uy said, served as a fora to identify strengths and weaknesses of government agencies.
“[This] would enable us all to achieve an excellent resolution for dealing with trade facilitation, border protection and all other customs cooperation programs,” Uy said.
H. Romero, Poblacion, and Sto. Rosario, Zaragosa town. In a report to Public Works Secretary Manuel M. Bonoan, DPWH Region 3 Director Roseller A. Tolentino said that the asphalt overlaying covered 2.8 kilometers of road in Guimba, and 4.796-lane kilometers of road in Zaragosa. “Reflectorized thermoplastic markings were also applied to alert drivers to potential hazards, thereby aiming to reduce accidents and enhance overall safety,” said Tolentino. The completion of the road projects in Guimba and Zaragosa which were funded under the 2024 General Appropriations Act (GAA), has greatly benefited motorists by improving access to public transportation and reducing the risk of accidents for vehicles traveling between provinces.
President Marcos signed last May RA 11996, the approved final House version (House Bill or HB 1270), of which had consolidated six similar bills, including the lead HB 1270 that was principally authored by Villafuerte.
In a recent statement, Labor Secretary Bienvenido Laguesma said that Department Order 246, series of 2024, which was issued last September 30, provides for the IRR of RA 11996 to include “the protection of labor rights,
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Filipinos in Lebanon in case the tension between Israeli and Hezbollah forces within its territories escalates.
“They should secure chartered flights dedicated to bringing Filipinos and their dependents safely back home to the Philippines and secure ground vehicles
Villafuerte said the law, as contained in the IRR, also prohibits any type of discrimination based on age, gender, or race and provides for measures against physical violence, harassment, and abuse in workplaces. There are also special regulations, he said, covering the employment of minors, as well as a reaffirmation of the right of workers to self-organization and compensation under RA 8293, or the Intellectual Property Code of the Philippines.
Villafuerte said the expected full implementation soon of RA 11996, following the issuance of its IRR, is well-timed, as President Marcos issued last October 5 Executive Order (EO) No. 70 in a bid to promote the development of the film industry and strengthen the Film Academy of the Philippines (FAP).
Jovee Marie N. dela Cruz
in Lebanon to transport Filipinos to safe evacuation centers, temporary shelters, or the Philippine Embassy,” Migrante said. Earlier this month, DMW already disclosed the government plan to charter a flight to Lebanon and to use land and sea routes to evacuate Filipinos. However, it noted the majority of the Filipinos in Lebanon still want to stay in the Middle East country. Samuel P. Medenilla
NDA needs bigger budget to hike milk output
TBy Ada Pelonia @adapelonia
HE National Dairy Au -
thority (NDA) is seeking more funds to increase the country’s milk output and enable local producers to meet at least 5 percent of the Philippines’s milk requirement.
NDA Administrator Marcus Antonius Andaya said improving the country’s milk self-sufficiency rate will entail significant investments.
“The agency’s current budget will not allow us to hit the target (of improving milk self-sufficiency). We really need a higher budget,” Andaya told reporters in a recent press briefing in Quezon City.
“Sans an increase in the budget of the NDA, it will be highly im -
possible to achieve the 5 percent milk sufficiency by 2028.”
According to Andaya, the agency stands to receive P537 million under the 2025 National Expenditure Program (NEP), slightly higher than its 2024 budget of P522 million.
“NDA’s annual budget is currently at P500 million. If that will be doubled, then we will also be able to double milk production.”
The agency attached to the Department of Agriculture is targeting to raise annual domestic production to 80 million liters, equivalent to a 5 percent milk self-sufficiency, by 2028.
Figures from the NDA showed that the country’s milk production in 2023 reached 28.86 million liters. In the first half, output amounted to 16.02 million liters,
based on NDA data.
Andaya said the country’s milk self-sufficiency stood at 1.54 percent as of June. Their target is to raise this to 2.66 percent by 2025
and eventually hike it to 5 percent by increasing herd size and yield.
Andaya said the agency would begin to import dairy cattle as soon as their 2025 budget gets
‘Revenue loss means smaller excess funds for rice sector’
THE Rice Competitiveness Enhancement Fund (RCEF) ensures government support for planters, but an economist said the decline in tariff collections would reduce excess funds that can be used by government to further bolster the rice sector’s competitiveness.
Roehlano Briones, a senior research fellow at the Philippine Institute for Development Studies (PIDS), said the revenue losses due to the reduction in rice tariffs will not have an impact on farmers. Briones issued the statement after the Bureau of Customs (BOC) recently recorded P6.089 billion in revenue losses from rice imports (See: https://businessmirror. com.ph/2024/10/13/lower-tariffs-on-rice-bevs-pull-down-boc9-month-take/).
“[There will be] no impact. The new [Rice Tariffication Law] bill provides P30 billion [in Rice Competitiveness Enhancement Fund],”
he told the BusinessMirror.
President Marcos issued Executive Order (EO) 62, which reduced the rice tariff to 15 percent from 35 percent, last July. EO 62, which will take effect until 2028, slashed tariffs to cut rice prices by P5 to P7 per kilo.
Data from the BOC showed that tariff revenue collections from rice imports reached P30.02 billion in 2023.
Congress recently ratified the bicameral conference committee report on the proposed RTL amendments, one of which aims to increase the RCEF allocation to P30 billion from P10 billion.
However, University of Asia and the Pacific’s Center for Food and Agribusiness (CFA) Executive Director Marie Annette GalvezDacul said lower rice tariff collections will have an impact on the competitiveness of rice farmers.
“A revenue loss impacts farmers by allowing cheaper imports
to compete with local rice, potentially lowering farmgate prices,” Dacul told the BusinessMirror.
“Any revenue above the P10 [billion] allocated to RCEF under the RTL funds the Rice Farmer Financial Assistance under RA [Republic Act] 11598, so a smaller excess means less support.”
With this, Dacul said reverting tariffs to pre-EO 62 rates could better shield farmers by narrowing the price gap between imported and local rice.
The National Economic and Development Authority (Neda) is set to review the comprehensive and/ or specific MFN (Most Favored Nation) tariff rates listed under EO 62 by November.
EO 62 provides that the tariff structure would be subjected to a periodic review every four months from its effectivity.
“As NEDA reviews tariff rates, reverting to pre-EO 62 levels could better protect farmers by reducing
the price gap between imported and local rice, though it may raise consumer prices,” Dacul said.
“A thorough review of the RTL is needed to assess the impact of interventions, including EO 62.”
Briones, however, said he would not recommend restoring the previous tariff.
Data from the Bureau of Plant Industry (BPI) showed that imported rice that arrived in the Philippines hit 3.43 million metric tons (MMT) as of October 10. The country’s actual purchases of imported rice reached 3.61 MMT last year.
Agriculture Assistant Secretary Arnel de Mesa said that following the trajectory of rice import arrivals, rice imports this year may surpass last year’s shipments.
“Most of the imports arrive during the last quarter so historically [and] statistically speaking, it might breach the 3.6 MMT last year.” Ada Pelonia
FAO forum trains spotlight on ‘inclusive innovation’
HE Science and Innovation Forum
T(SIF 2024) wrapped up three days of discussions on how to make cuttingedge technologies available to small-scale producers at the Rome headquarters of the Food and Agriculture Organization of the United Nations (FAO) last Friday.
SIF is one of the three pillars of the World Food Forum 2024, together with the Global Youth Forum and the Investment Forum. The third edition of SIF was held under the theme “Inclusive Science and Innovation for Agrifood Systems Transformation, Leaving No One Behind.” It brought together recognised scientists, innovation experts, and policymakers, as well as small-scale producers, indigenous peoples, women, youth, and the private sector, in a bid to encourage a diversity of perspectives based on science.
“Science, technology, and innovation are key accelerators of agrifood systems transformation, but they must be inclusive to ensure that the transition is just and equitable,” FAO Director-General Qu Dongyu said in his opening address to the forum.
As the world’s agrifood systems face growing challenges—including the climate crisis, biodiversity loss, resource degradation, population growth, and changing diets—the potential of new technologies should be harnessed for developing solutions, according to FAO. “However, what is needed is to make these innovations impactful on a broader scale, so that all share the benefits equally and sustainably.”
Gene editing
THURSDAY’S SIF 2024 opened with a session that explored the benefits of the adoption and diffusion of gene editing technologies and examined their implications, including risks, for small-scale producers. It also provided a platform to discuss regulatory and policy considerations.
Research shows that this technology could enhance precision in breeding methods and contribute to the rapid development of improved plant varieties and animal breeds. Potential benefits include crops and livestock
that are more resistant to pests and diseases and improved resilience to climate change.
Some of the gene-edited products being developed around the world include bananas biofortified with vitamin A, hypoallergenic milk, gluten-free wheat, disease-resistance salmon, drought-tolerant grapevines, and cacao protected against fungal disease.
However, there are also potential environmental, food safety, ethical, and regulatory concerns. In this regard, FAO published a report in 2022 that discusses these important aspects, followed by a 2023 report on food-safety-related issues in applying gene editing for food production, including the applicability of existing Codex Alimentarius principles and guidelines for relevant food safety assessments.
“Above all, there’s a need to ensure that such technologies are inclusive and benefit all food producers, including family farmers,” Qu said in his opening remarks to the session.
He also called for more science communication and education to better inform the public about the potential benefits of these
new technologies.
Artificial intelligence
THE need for inclusivity was also at the heart of an afternoon session on artificial intelligence (AI), which brought together diverse perspectives and allowed participants to explore how this technology can shape the future of agrifood systems.
AI is already reshaping how we grow, harvest, and distribute food, fisheries, and forestry. However, AI must be inclusive and responsible for its true potential to be realised.
“This is why, in February 2020, FAO, along with Microsoft, IBM, and the Holy See, was among the first signatories of the Rome Call for AI Ethics.”
For AI to help reduce poverty and contribute to a world without hunger, it must bridge—rather than widen—what the Director-General calls the triple divide: digital, rural, and gender. This requires proper governance and collaboration between the public and private sectors, according to FAO.
Nestle unveils regenerative agri projects for coffee planters
Nsmallholder robusta farmers to increase their production and income. Through a partnership with the Department of Agriculture–Agricultural Training Institute (DA-ATI), and the German Agency for International Cooperation (GIZ), the company introduced an online certificate course and a crop calendar tailored for coffee farmers under its Project Coffee++ program. The course covers topics like soil regeneration and climate-smart farming practices while the crop calendar would
serve as a record-keeping tool that allows farmers to track their disbursements and incomes.
Jose Uy III, senior vice president and head of corporate affairs at Nestlé Philippines, said these initiatives mark the importance of making regenerative agriculture a crucial part of how farmers grow coffee and other produce.
According to Uy, the ultimate target is to match Vietnam’s output of 2 metric tons (MT) per hectare, which some farmers have already achieved through the practice of regenerative agriculture. “We hope that by 2025, at least 20 per -
cent of the farmers should already practice regenerative agriculture,” Uy told reporters during a press briefing in Makati last Friday.
“The ideal scenario is to hit the 2 metric ton per hectare. But for now, let’s commit first to the 1 metric ton per hectare and then let’s see how we can grow even more.”
Nestlé Philippines said its farmer training program aims to educate 1,500 more smallholder coffee farmers tilling an average of one to two hectares of farmland in Bukidnon and Sultan Kudarat.
It added that the program builds on its predecessor, the Project Coffee+, which helped 1,500 participating farmers from
approved. He noted that the imported dairy cattle would be placed in NDA’s stock farms around the country. Their offspring would then be distributed to farmers.
The NDA said the stock farms set to be completed this year are in Tinio, Nueva Ecija; Ubay, Bohol; Malaybalay, Bukidnon; Carmen, Cotabato; and Agusan Del Sur. These will be operationalized next year.
He said the agency will keep breeding the dairy cattle to increase the volume of milk production.
Andaya also said the NDA is expecting the arrival of at least 600 imported dairy cattle from Australia in July 2025. “Within the same year, the dairy cattle will be able to produce milk.”
Meanwhile, the NDA chief ex -
pressed the hope that the proposed livestock bill, which aims to make the livestock and poultry industries more competitive, will be passed into law.
Under the proposed bill, a livestock, poultry, and dairy competitiveness enhancement fund (LPD Fund) will be created. The LPD fund will receive an annual appropriation of P7.8 billion from the tariff collections on imported LPD commodities within 10 years following its effectivity.
“NDA is hopeful that the bill will be signed into law because it will boost our efforts to expand the local dairy cattle herd,” said Andaya.
“Tariffs from imports may be used to import more dairy cows and will allow the government to help more farmers.”
Nature ‘piracy,’ funding battles will dominate UN biodiversity summit
DELEGATES from almost 200 countries are gathering this week in Cali, Colombia, for the biennial United Nations summit on biodiversity, the first one since the landmark Global Biodiversity Framework was signed in Montreal in December 2022.
Nature is disappearing at an alarming rate. Over the past 50 years, wildlife populations have shrunk by almost three-quarters, according to the latest research by WWF. The decline is happening so fast that the world is approaching possibly irreversible tipping points. The planet is in a “critical situation,” said Susana Muhamad, COP16 president and Colombia’s environment minister.
The summit’s goal, Muhamad said, is to “make peace with nature.” In practical terms, that means assessing and advancing nations’ progress on their efforts to implement the 2022 framework. The 15-page pact contains four overarching goals for 2050 and 23 shorterterm targets, from protecting 30 percent of the globe’s land and sea to halving food waste to slashing use of harmful chemicals.
Around 14,000 people are registered to attend—a record turnout, according to Astrid Schomaker, executive secretary of the UN Convention on Biological Diversity. That includes more than 100 government ministers and several heads of state, Muhamad said. Some of the world’s biggest banks, including JPMorgan Chase & Co. and Standard Chartered Plc, are sending representatives for the first time. Citigroup Inc., Bank of America Corp., HSBC Holdings Plc and Deutsche Bank AG will also be present. The focus will be threefold:
Combatting ‘biopiracy’ PERHAPS the biggest issue is deciding the final details of a new global system to collect and share a sliver of the trillions of dollars in revenue raked in by the world’s largest companies. Conglomerates in sectors like pharmaceuticals and biotechnology would be asked to contribute to a fund to compensate countries from which their resources are derived. That money would in turn be used to protect nature.
In the past, researchers interested in tree sap to help create new drugs or rare plant species to enhance crops would physically export samples. Now, they’re much more likely to take a digital fingerprint of that resource and upload it to an online database. But there’s no global rule governing how countries should be paid for that information on their genetic resources, a situation that some countries liken to a form of piracy.
the same region to triple their yields and income since it began in 2018.
According to the company, from an average of 235 kilos of green coffee beans per hectare in 2018, Project Coffee+ participants achieved an average harvest of 886 kilos in 2023. Some of the farmers that the company trained were able to produce 1 MT per hectare.
Regenerative agriculture improves biodiversity and protects soil fertility by restoring the land’s nutrients. Among these regenerative farming practices are composting, agroforestry, cover crops, and intercropping. Ada Pelonia
Muhamad sees approval of the mechanism, including “teeth for implementation,” as a top agenda item. The UK and the EU also regard an agreement on “biopiracy” as a priority. It’s set to be highly contentious, however. Research firm BloombergNEF rates the likelihood of parties reaching consensus on the details of a mechanism and fund at only 2 in 10.
Taking stock
COUNTRIES are due to submit their so-called national biodiversity strategies and action plans for meeting the framework by the start of the summit Monday. So far, just 31 countries plus the EU have done so. Laggards include the
UK and Switzerland, as well as a number of the world’s so-called “megadiverse” countries, among them Brazil, India and South Africa.
(The US is not a signatory.)
“We need to make countries accountable,” said Lucia Ruiz, director for conservation areas at WWF. “Otherwise, we have a North Star to follow, but we don’t have a plan on how to get there.” Under the framework that preceded this one, not a single global biodiversity goal was met.
Banks and investors are looking to the national plans to help shape their investment decisions and in-house nature strategies. “If countries can start to make those longerterm strategies more tangible and clear,” said Judson Berkey, group head of engagement and regulatory strategy at UBS Group AG, investors can then “actually start to think about, ‘OK, where are the returns and what will be commercially viable?’”
Boosting finance
THE 2022 framework called for raising $700 billion per year for nature protection and restoration. Some $500 billion is to come from redirecting harmful subsidies, like those for fossil fuels and pesticides, to nature-friendly business. About $200 billion is expected from new public and private sources. As at the better-known climate COPs, who pays, how much and to whom will be points of contention.
On the public finance side, developed countries have committed to contribute at least $20 billion per year by 2025 to poorer countries. For 2022—the latest year for which data is available—they were $4.6 billion short of that target, according to the Organisation for Economic Co-operation and Development (OECD).
There’s already been controversy. Campaign for Nature, a nonprofit, says most of the projects to which the $15.4 billion in biodiversity finance was allocated are only tangentially linked to protecting biodiversity. For instance, they include grants to fight organized crime in Latin America, for humanitarian aid in Ethiopia and for higher education in Niger. The amount of funding for projects principally focused on biodiversity actually decreased from 2015 to 2022, OECD data show. Still, Muhamad said she’s calling for developed countries to increase the pledge, and a new broad-based fund is on the table too. “It’s very important to understand that there is a commitment that is going to be fulfilled,” she said. “This is fundamental for the trust between the parties.” When it comes to private capital, proposals have ranged from impact funds or bonds to a new market for biodiversity credits—tradable instruments representing a unit of protected or restored nature. That market remains nascent. Behind closed doors, bankers have said they’re at a loss about how to approach the topic. “We are in the Nineties for biodiversity financing,” said Avril Benchimol Dominguez, a former investment
Drone targets Netanyahu’s house amid escalating Israel-Hezbollah-Hamas war
By Adam Schreck & Samy Magdy The Associated Press
JERUSALEM—Israel’s government said a drone targeted Prime Minister Benjamin Netanyahu’s house Saturday, with no casualties, as fighting with Lebanon-based Hezbollah and Gazabased Hamas showed no pause after the killing of the Hamas mastermind of last year’s Oct. 7 attack.
Israel’s military said dozens of projectiles were launched from Lebanon a day after Hezbollah announced a new phase in fighting. Netanyahu’s office said the drone targeted his house in the Mediterranean coastal town of Caesarea. Neither he nor his wife was there. It wasn’t clear if the house was hit.
“The proxies of Iran who today tried to assassinate me and my wife made a bitter mistake,” Netanyahu said.
Hezbollah didn’t claim responsibility but said it carried out several rocket attacks on Israel. The barrage came as Israel is expected to respond to an attack earlier this month by Iran, which backs both Hezbollah and Hamas. Israel in turn carried out at least 10 airstrikes on Beirut’s southern suburbs known as Dahiyeh, a heavily populated area home to Hezbollah’s offices, Lebanese authorities said. Israel’s military said it struck Hezbollah targets.
The US defense secretary, Lloyd Austin, called civilian casualties in Lebanon “far too high” in the intensifying Israel-Hezbollah war and urged Israel to scale back some strikes, especially in and around Beirut. In Gaza, Israeli forces fired at hospitals in the Palestinian enclave’s battered north, and strikes killed more than 50 people, including children, in less than 24 hours, according to hospital officials and an Associated Press reporter there.
“The possibility of war in the region remains a serious concern,” Iranian Foreign Minister Abbas Araghchi said while visiting Turkey. Group of Seven defense ministers warned against escalation and “all-out war.” new exchange of airstrikes
I S r A e L S m ilitary said about 200 projectiles were fired from Lebanon, a day after Hezbollah said it planned to send more guided missiles and exploding drones. The militant group’s longtime
leader, Hassan Nasrallah, was killed in an Israeli airstrike in September, and Israel sent ground troops into Lebanon this month.
A 50-year-old man was hit by shrapnel and killed in northern Israel, and four other people were wounded, Israel’s medical services said.
Lebanon’s state-run National News Agency said an Israeli airstrike on an apartment in eastern Baaloul village killed five people, including the mayor of nearby Sohmor village. An Israeli military official confirmed that the IDF struck targets in the Bekaa Valley.
Lebanon’s health ministry said an Israeli airstrike hit a vehicle on a highway north of Beirut, killing two people. Israel also said it killed Hezbollah’s deputy commander in the southern town of Bint Jbeil. The army said Nasser r a shid supervised
attacks against Israel.
Israel has issued near-daily warnings for people to leave buildings and villages in parts of Lebanon. The fighting has displaced more than 1 million people, including around 400,000 children.
israel drops leaflets showing Sinwar’s body
I S r A e L ’ S m ilitary on Saturday dropped leaflets in southern Gaza showing Hamas leader Yahya Sinwar dead, blood running down his forehead. “Sinwar destroyed your lives,” it said. “Whoever lays down his weapons and returns the kidnapped people to us, we will allow him to leave and live in peace.”
Sinwar was the chief architect of the raid on Israel more than a year ago that killed about 1,200 people, mostly civilians, and kidnapped another 250.
Ukraine releases video claiming to show North Korean troops receiving Russian military gear
By Samya Kullab The Associated Press
KYIV, Ukraine—A video purporting to show dozens of N orth Korean recruits lining up to collect r u ssian military fatigues has been released by Ukrainian officials, who say it shows t he introduction of troops sent by Pyongyang into the conflict.
The video, published by Ukraine’s Center for Strategic Communications and Information Security, which operates under the Culture and Information Ministry, allegedly shows N orth Korean soldiers standing in line to pick up bags, clothes and other apparel from r u ssian servicemen.
The Associated Press couldn’t verify the video independently.
“We received this video from our own sources. We cannot provide additional verification from the sources who provided it to us due to security concerns,” said Ihor Solovey, the head of the center.
“The video clearly shows North
Korean citizens being given r u ssian uniforms under the direction o f the r u ssian military,” he said. “For Ukraine, this video is important because it is the first video evidence that shows North Korea participating in the war on the side of r u ssia. Now not only with weapons and shells but also with personnel.”
By Grant Peck The Associated Press
The center claims the footage was shot by a r u ssian soldier in recent days. It didn’t say how the footage was obtained. The location is unknown.
It comes after the head of Ukrainian military intelligence, Kyrylo B udanov, claimed in local media that about 11,000 North Korean infan -
trymen were currently training in e astern r u ssia. He predicted they would be ready to join fighting by November. At least 2,600 would be sent to r u ssia’s Kursk region, where Ukraine launched an incursion in August, he was quoted as saying.
“The emergence of any number of new soldiers is a problem because we will simply need new, additional weapons to destroy them all,” Solovey told AP. “The dissemination of t his video is important as a signal to the world community that with two countries officially at war against Ukraine, we will need more support to repel this aggression.”
The presence of North Korean soldiers in Ukraine, if true, would be further proof of intensified military ties between r u ssian President Vladimir Putin and North Korean leader Kim Jong Un. Last summer, they signed a strategic partnership treaty that commits both countries to provide military assistance. North Korean weapons have already been used in the Ukraine war.
About 100 hostages remain in Gaza.
Israel and Hamas have signaled resistance to ending the war after Sinwar’s killing. Hamas has reiterated that the hostages won’t be released until there is a cease-fire and Israeli troops withdraw. Netanyahu says Israel’s military will fight until the hostages are released, and will remain in Gaza to prevent a severely weakened Hamas from regrouping.
Israel’s retaliatory offensive in Gaza has killed more than 42,000 Palestinians, according to local health authorities, who don’t distinguish combatants from civilians but say more than half the dead are women and children.
More strikes pounded Gaza on Saturday, and Palestinian communications company Paltel said they knocked out Internet networks in the north.
The Palestinian Health Ministry said Israeli strikes hit the upper floors of the Indonesian Hospital in Beit Lahiya, and forces opened fire at it, causing panic. The U.N. said two patients died due to a power outage and lack of supplies in recent days.
Israel’s military said it was operating near the hospital and “there was no intentional fire directed at it.”
The military also said it was looking into the matter after Al-Awda hospital in Jabaliya, northern Gaza, said strikes hit the top floors, wounding several staff members. It later said the military hit its ambulances and courtyard, wounding four people, including a medic.
Three houses in Jabaliya were struck overnight, killing at least 30 people, more than half women and
children, said Fares Abu Hamza, head of the health ministry’s ambulance and emergency service. At least 80 were wounded.
Palestinian residents said Israel’s military was forcing hundreds of displaced people to leave Jabaliya and head to Gaza City.
“The occupation evicted us at gunpoint,” said Umm Sayed, a mother of three. “Tanks and heavy armed forces were encircling us.” She said many young men were taken apparently for interrogation, and most were later released.
Israel’s military described it as an evacuation and said it detained militants for questioning.
A UN school sheltering displaced people west of Gaza City was hit, killing several people, according to the Hamas-run civil defense first responders.
“What is this? There is a clinic and there are children,” said Bashir Haddad, a displaced person there, acc ording to AP video. A boy collected body parts on a piece of cardboard. e l sewhere in central Gaza, at least 10 people were killed, including two children, when a house was hit in the town of Zawayda, according to the al-Aqsa Martyrs Hospital in Deir alBalah. Another strike killed 11 people from the same family in the Maghazi refugee camp, the hospital said. The war has destroyed vast swaths of Gaza, displaced about 90% of its population of 2.3 million people, and left them struggling to find food, water, medicine and fuel. Associated Press writers Jack Jeffery in Ramallah, West Bank, and Bassem Mroue in Beirut contributed to this report.
By Yuri Kageyama
The Associated Press
to K Yo A man threw several firebombs into the headquarters of Japan’s governing party in to kyo on Saturday, then crashed his car into the fencing of the prime minister’s residence, police said. t h ere were no reports of injuries.
t h e man, identified by police as Atsunobu u s uda, 49, was arrested on the spot on charges of obstructing the performance of official duties, although additional charges can be added later. Although the motive for the attack was not immediately clear, Japanese media reports said social media posts believed to be u s uda’s showed him complaining about the sums of money required to run for office under Japanese law, implying u s uda had political ambitions.
t h e media reports also quoted unidentified sources as saying u s uda had taken part in protests against nuclear plants. u s uda wasn’t immediately available for comment.
ethnic groups who separately maintained their own good relations with c h ina, have weakened the army’s position all over the
Voting for the lower house of parliament is set for o c tober 27. Some tarnished politicians lost the official backing of the governing party, but are running as independents.
t he party recently chose a new leader, Prime Minister Shigeru i s hiba, hoping to present a new image. But polls
t he governing l ib eral Democratic Party is increasingly unpopular with the public because of a ballooning money scandal involving dubious funding and suspected tax evasion. t h e party declined to comment on Saturday’s attack, referring all inquiries to the police.
nO rth Korean soldiers march during a mass military parade in p yongyang’s Kim il Sung Square to celebrate 100 years since the birth of north Korean founder, Kim l Sung on april 15, 2012. AP Photo/Ng hAN guA N
From exile to palace: Prabowo Subianto inaugurated as Indonesia’s 8th president
By Niniek Karmini
The Associated Press
AKARTA, Indonesia—Prabowo
JSubianto was inaugurated Sunday as the eighth president of the world’s most populous Muslim-majority nation, completing his journey from an ex-general accused of rights abuses during the dark days of Indonesia’s military dictatorship to the presidential palace.
The former defense minister, who turned 73 on Thursday, was cheered through the streets by thousands of waving supporters after taking his oath on
the Quran, the Muslim holy book, in front of lawmakers and foreign dignitaries.
Banners and billboards to welcome the new president filled the streets of the capital, Jakarta, where tens of thousands gathered for festivities including speeches and musical performances along the city’s major throughfare.
Subianto was a longtime rival of the immensely popular President Joko Widodo, who ran against him for the presidency twice and refused to accept his defeat on both occasions, in 2014 and 2019. But Widodo appointed Subianto as defense chief after his reelection, paving
the way for an alliance despite their rival political parties. During the campaign, Subianto ran as the popular outgoing president’s heir, vowing to continue signature policies like the construction of a multibillion-dollar new capital city and limits on exporting raw materials intended to boost domestic industry.
Backed by Widodo, Subianto swept to a landslide victory in February’s direct presidential election on promises of policy continuity.
Subianto was sworn in with his new vice president, 37-year-old Surakarta exMayor Gibran Rakabuming Raka. He chose
Raka, who is Widodo’s son, as his running mate, with Widodo favoring Subianto over the candidate of his own former party. The former rivals became tacit allies, even though Indonesian presidents don’t typically endorse candidates.
But how he’ll govern the biggest economy in Southeast Asia—where nearly 90 percent of Indonesia’s 282 million people are Muslims—remains uncertain after a campaign in which he made few concrete promises besides continuity with the popular former president.
Subianto, who comes from one of the country’s wealthiest families, is a sharp
contrast to Widodo, the first Indonesian president to emerge from outside the political and military elite who came from a humble background and as president often mingled with working-class crowds.
Subianto was a Special Forces commander until he was expelled by the army in 1998 over accusations that he played a role in the kidnappings and torture of activists and other abuses. He never faced trial and went into self-imposed exile in Jordan in 1998, although several of his underlings were tried and convicted.
Jordanian King Abdullah II bin AlHussein was expected to attend Sunday’s ceremony, but canceled at the last minute because of escalating Middle East tensions, instead deciding to send Foreign Affairs Minister Nancy Namrouqa as his special envoy. Subianto and Abdullah met in person in June for talks in Amman on humanitarian assistance to people af -
fected by the war in Gaza. Subianto, who has never held elective office, will lead a massive, diverse archipelago nation whose economy has boomed amid strong global demand for its natural resources. But he’ll have to contend with global economic distress and regional tensions in Asia, where territorial conflicts and the United StatesChina rivalry loom large. Leaders and senior officials from more than 30 countries flew in to attend the ceremony, including Chinese Vice President Han Zheng and leaders of Southeast Asia countries. US President Joe Biden sent Linda Thomas-Greenfield, the US ambassador to the United Nations. Adm. Samuel Paparo, the US Commander of the Indo-Pacific Command, was also among the American delegation. Associated Press journalists Edna Tarigan and Andi Jatmiko contributed to this report.
Addressing persistent inequality and pushing for systemic change to attain inclusive growth
The latest World Bank report paints a sobering picture of the persistent challenge of inequality in the Philippines. With a Gini coefficient of 40.7 percent, the country remains mired in highinequality status. This troubling statistic underscores the stark reality that our economic growth has largely failed to translate into opportunities for broad-based social mobility and shared prosperity. (Read the BusinessMirror story: “World Bank flags Pinoys’ issues in socioeconomic mobility,” October 17, 2024).
The path towards inclusive growth is paved with complex, multifaceted challenges. However, national leaders must confront this issue head-on and take decisive action to ensure that the country’s economic progress benefits all Filipinos, not just the privileged few.
It would do well for the government to prioritize policies that enhance access to quality education and skills training. Investing in human capital development is crucial for equipping the populace with the knowledge and capabilities necessary to fully participate in and contribute to the country’s economic progress.
Secondly, the government must foster an environment that promotes job creation and entrepreneurship, particularly in underserved regions and sectors. This could involve incentivizing private sector investment, streamlining regulatory processes, and providing comprehensive support for micro, small and medium-sized enterprises. By creating more economic opportunities, especially in traditionally disadvantaged areas, the government can help narrow the gap between the haves and the have-nots.
Thirdly, the government must strengthen social safety nets and social protection programs to cushion the most vulnerable members of society from the impacts of economic shocks. This could include expanding access to affordable healthcare, strengthening social security systems, and implementing targeted cash transfer programs. Ensuring a robust social safety net not only uplifts the lives of the less fortunate but also builds resilience within the broader population.
Finally, the government must champion transparency, accountability, and good governance at all levels. Corruption and cronyism have long been impediments to the country’s inclusive development. By fostering a culture of integrity, the government can restore public trust and ensure that the country’s resources and opportunities are distributed equitably and fairly.
The Philippines faces a significant challenge in achieving inclusive growth, but this crucial goal is attainable. Prioritizing education, job creation, robust social safety nets, and effective governance will enable leaders to build a future where all Filipinos, not just the elite, experience improved lives.
The World Bank’s findings are not merely statistics; they represent the lived experiences of millions. The persistent poverty highlights the urgent need for a fundamental shift in the country’s development strategy. Simply focusing on GDP growth is insufficient; the focus must be on inclusive growth, ensuring that the fruits of economic progress are shared equitably across all segments of society.
The current approach is clearly unsustainable. National leaders must move beyond simply chasing GDP numbers and instead focus on building a more just and equitable society where all Filipinos have the opportunity to thrive. This requires bold leadership, a commitment to social justice, and a willingness to challenge the status quo. The time for incremental change is over; the need for transformative action is urgent.
BusinessMirror
Team Asia wins at inaugural Reyes Cup
TRISING SUN
he inaugural Reyes Cup, held from October 15 to 18, 2024 at the Ninoy Aquino National Stadium in Manila, wasn’t just a tournament—it was a celebration of billiards, culture, and the enduring legacy of efren “Bata” Reyes. Named after the Filipino pool icon, widely regarded as the greatest-ever pool player, the event brought together some of the finest talents from Asia and europe for a historic showdown. With Reyes himself captaining Team Asia, the tournament took on added significance, drawing in fans from around the world and further cementing the Philippines’ role as a global hub for billiards.
As a tribute to Reyes, who inspired generations of players and fans alike, the Reyes Cup is poised to become a cornerstone event in billiards. Reyes’ countless accomplishments solidified his status as the GOAT, so it is only fitting that the inaugural edition of this prestigious event was held in his country, where he continues to inspire fans and players to this day.
The tournament followed the Mosconi Cup’s prestigious team format, which celebrated its 30th anniversary last year in London. The Reyes Cup featured a thrilling mix of singles, doubles, and team matches, offering fans a wide range of action. Team Asia, selected through a combination of top rankings and wildcards, was captained by Reyes, and featured
As a tribute to Efren Reyes, who inspired generations of players and fans alike, the Reyes Cup is poised to become a cornerstone event in billiards. Reyes’ countless accomplishments solidified his status as the GOAT, so it is only fitting that the inaugural edition of this prestigious event was held in his country, where he continues to inspire fans and players to this day.
talents such as Johann Chua, Carlo Biado, Aloysius Yapp, Duong Quoc Hoang, and Ko Pin-Yi. This roster reflected Asia’s dominance in the sport, showcasing both seasoned champions and rising stars.
On the other hand, Team Europe, led by renowned English pool player Karl Boyes, was no less formidable. Boasting a lineup including Eklent Kaçi, Mickey Krause, David Alcaide, Jayson Shaw, and Francisco Sánchez Ruiz, Europe’s squad brought a wealth of experience, power, and tactical brilliance. Players like Alcaide, a long-stand-
ing stalwart in the Mosconi Cup, and Shaw, with his aggressive style, added a thrilling dynamic to the competition.
Despite Team Europe’s deep bench of talent, Team Asia, fueled by Reyes’ legendary presence, ultimately triumphed with a convincing 11-6 victory. This victory is an honor to Reyes’ extraordinary career and proof that the next generation of Asian billiards stars is more than ready to carry his legacy forward.
The Reyes Cup, organized by the World Nineball Tour in collaboration with Puyat Sports, and broadcast globally via Cignal TV in the Philippines and Sky Sports in the UK, has firmly established itself as a must-watch event in the world of billiards. As it brought together the best of both continents, it also gave fans around the world a chance to witness world-class play As the dust settles on the Reyes Cup’s inaugural edition, it stands poised to become a permanent fixture in billiards, one that will continue to pay tribute to the sport’s greatest icon while showcasing the very best of international cue sports for years to come.
The roadblocks ahead: Challenges in implementing renewable energy programs for our energy security
TLITO GAGNI
he government’s renewable energy program, aimed at boosting investment in solar, hydro, run-of-river, geothermal, and other clean energy technologies, faces challenges in its implementation. While the program contributes to the country’s energy security goals, its current execution requires improvement.
The recent hearing of the Senate Energy Committee chaired by Senator Pia Cayetano confirms a critical concern we must address. Energy forms the cornerstone of business operations, fueling the vitality required for economic activities that propel us towards achieving middleincome status.
In that said hearing on the budget of the Department of Energy, Senator Cayetano and the other senators found out the stumbling block to the
country’s push for energy security. And it came by way of a question-andanswer episode in the said budget hearing that can be cited as a worrisome issue.
Answering a prompt from the senators, Energy Undersecretary Rowena Guevara bared the timeline for the Green Energy Auction 3, whereby investors in renewables participate in a bidding process for the right to pursue solar or other energy technologies. “Our target for the GEA
To facilitate investor participation in the GEA 3 auction, it is essential to announce the pricing mechanism beforehand. Unfortunately, this crucial step has been overlooked. The Department of Energy should reconsider the approach, as it’s important to establish a clear process before proceeding.
Auction 3 is to finish it before the end of the year,” she said.
The answer seemed encouraging and is aimed at soothing the frayed nerves of Senate Energy Chairperson Cayetano who is hell-bent on seeking energy security for the country. But wait. A key ingredient for the bidding process has not yet been tackled and this is the pricing methodology for renewables.
To facilitate investor participation in the GEA 3 auction, it is essential to announce the pricing mechanism beforehand. Unfortunately, this crucial step has been overlooked.
The Department of Energy should reconsider the approach, as it’s important to establish a clear process before proceeding. Investments in renewables require loads of money and investors want to first determine whether it is economically feasible for them to make that leapfrog to pursue energy projects in the country. We understand that Senator Cayetano is aware of the fact that many foreign investors are awaiting the pricing mechanism or the socalled Green Energy Auction Reserve (GEAR) price before they participate in the GEA 3 auction. Without the pricing mechanism, no one in his right mind would dare participate in the energy auction. And that is what worried Senator Cayetano who said during the budget hearing: “I understand we have investors who are ready to get it done,” in connection with the country’s push for renewables.
It would seem that the government officials leading our energy security push have been
Atty. Jose Ferdinand M. Rojas II
Healthy bones, healthy life: DOST marks World Osteoporosis Day with call to action
By Secretary Renato Solidum Jr.
iN observance of World osteoporosis Day on october 20, 2024, the Department of Science and technology (DoSt) calls attention to the need for Filipinos to prioritize bone health. osteoporosis, a condition that weakens bones and increases the likelihood of fractures, remains a concern that many are unaware of. one of the most effective ways to help prevent it is through adequate calcium intake.
Calcium is an essential nutrient for maintaining bone strength. However, many Filipinos do not meet the recommended levels of calcium in their diet, increasing the risk of developing brittle bones. According to the 2021 Expanded National Nutrition Survey (ENNS) conducted by DOST-Food and Nutrition Research Institute (FNRI), 9 out of 10 Filipino adults and the elderly have inadequate calcium intake.
At DOST, we are committed to raising awareness about the importance of bone health and proper nutrition. Through our researchbacked nutrition and food safety initiatives, we are working to improve and promote access to supplemental nutrients like calcium-rich food in everyday meals.
To promote better bone health, it is important to eat fish, shellfish, cereals, green leafy vegetables, and dairy products that are recommended for healthy bones, teeth, hair, and nails. Vitamin D also helps the body absorb adequate amounts of calcium from the diet. Exposure to the morning sun, ideally from 7 to 9 a.m., activates vitamin D in the body.
Additionally, we encourage everybody to engage in physical exercise. Simple activities such as walking, dancing, or participating in sports can strengthen bones and improve overall fitness. Adopting a habit that includes proper nutrition with an active lifestyle will enable everybody
Gagni . . .
continued from A8 pushing their mandate for energy renewables, a sad reality that stares us in the face. Why is it taking so long for our energy officials to craft the pricing mechanism as a way forward for the green energy auction?
There have been lofty goals that the country has come up with on the issue of renewable energy. In fact, for the projected GEA-3 auction, an RE supply equivalent to 3,000 megawatts is being eyed. But the bidding may fall short of that should the pricing mechanism be out of whack. After all, investors should fully understand whether they will make money or not before participating in the bidding process. In GEAR-2, out of the 11,600 megawatts that were auctioned off, only 3,580 megawatts were snatched. That left a huge hole on the country’s march towards energy security.
The pricing methodology should be reviewed to ensure it is appropriate, so the country does not need to worry about the alerts that occur when baseload plants go offline for maintenance, which can lead to higher WESM prices. In that hearing, the senators were surprised to learn that the Department of Energy and Energy Regulatory Commission are not fully fulfilling their mandates.
Given Energy Secretary Raphael Lotilla’s extensive management experience, his input could be valuable in developing pricing for renewable energy projects that accurately reflects the business landscape. The relatively low 30 percent participation rate in the GEA 2 auction serves as an important reminder to carefully consider the pricing structure for the upcoming GEA 3 auction.
Breaking the dynasty stronghold
PTo promote better bone health, it is important to eat fish, shellfish, cereals, green leafy vegetables, and dairy products that are recommended for healthy bones, teeth, hair, and nails. Vitamin D also helps the body absorb adequate amounts of calcium from the diet. Exposure to the morning sun, ideally from 7 to 9 am, activates vitamin D in the body.
to maintain strong bones and enjoy physical well-being. We urge the Filipino nation to take proactive steps in advocating bone health. Through the addition of sufficient calcium-rich food into our diet and maintaining a balanced lifestyle, we can reduce the risk of Osteoporosis and make every Filipino enjoy strong bones, leading to a healthier and more productive life.
Siegfred Bueno Mison, Esq.
THE PATRIOT
olitical dynasties have long shaped the Philippine political landscape, with deep-seated family ties influencing governance across generations. this stronghold on power has led to a cycle where political positions are often passed from one family member to another, hindering democratic processes and limiting opportunities for new leaders to emerge. However, recent efforts by concerned citizens are aiming to dismantle this system, advocating for reforms that promote fairness in public service.
Philippine political dynasties not only dominate the local and national landscape but often face competition from within their own ranks. One notable case is the rivalry between cousins April and Carlo Aguilar in Las Piñas City. April Aguilar, the incumbent vice mayor, and Carlo Aguilar, a former councilor, are both competing for the mayoralty position. Despite their familial ties and shared lineage as members of the Villar political clan, their rivalry underscores how personal ambitions can lead to friction even within tightly-knit political families. Senator Cynthia Villar herself commented on this internal competition, remarking, “Talagang ganoon ang buhay” (That’s just how life is), acknowledging that the ambitions of the next generation are often difficult to control.
The Aguilar family has had a firm grip on Las Piñas politics since the 1960s, beginning with patriarch Filemon Aguilar. Since then, control has passed between family members, creating a cycle where political power remains within the family. This pattern is not unique to Las Piñas; similar scenarios can be observed across the Philippines, with dynasties ensuring that key positions are kept “in-house,” limiting space for outsiders to enter the political arena.
In Navotas, the Tiangco brothers—Mayor John Rey and Representative Toby—maintain an unchallenged reign; and, in San Juan, the Zamora family continues to hold political control with Mayor Francis
Zamora and Congresswoman Ysabel Zamora running for re-election. These families often consolidate power through the strategic allocation of political roles to relatives, creating a monopoly over local governance. The problem with such control is that it perpetuates a system where power is treated as something like family inheritance, which can lead to the prioritization of family interests over public welfare and limited opportunities for new, more capable leaders to emerge.
Amid the dominance of these dynasties, there is growing opposition from concerned citizens determined to dismantle this system. In a landmark move, four courageous Filipinos filed a petition with the Supreme Court, urging Congress to fulfill its constitutional obligation to pass a law actually defining political dynasties. Article II, Section 26 of the 1987 Philippine Constitution explicitly mandates that the State guarantee equal access to public service opportunities and prohibit political dynasties “as may be defined by law.” However, Congress, largely composed of members from political dynasties (ironically), has failed to enact this legislation for over three decades. The petitioners argue that political dynasties foster inequality by perpetuating the concentration of political power within a select few families, thus denying the general public the chance to participate in leadership. By ensuring that public office is passed on to family members, these dynasties
Amid the dominance of these dynasties, there is growing opposition from concerned citizens determined to dismantle this system. In a landmark move, four courageous Filipinos filed a petition with the Supreme Court, urging Congress to fulfill its constitutional obligation to pass a law actually defining political dynasties.
effectively exclude other qualified individuals from contributing to governance. The petition is a bold call to action, aiming to dismantle the cycle of concentrated power and open up the political landscape to more equitable competition. Other well meaning Filipinos can surely participate in a political system where leadership is based on merit, not on family ties.
From a biblical perspective, leadership is not about accumulating power or securing positions for one’s family but about serving others. Jesus offers a radically different model of leadership in Mark 10:4245, where He says: “You know that those who are regarded as rulers of the Gentiles lord it over them, and their high officials exercise authority over them. Not so with you. Instead, whoever wants to become great among you must be your servant, and whoever wants to be first must be slave of all. For even the Son of Man did not come to be served, but to serve, and to give His life as a ransom for many.”
This servant-leadership model stands in stark contrast to the dynastic politics prevalent in the Philippines, where power is often retained for the benefit of one’s family rather than for the service of the people. Rather than using power to benefit oneself, biblical leadership emphasizes humility, service, and putting others’ needs before one’s own. Leaders are called to be caretakers—ensuring justice, promoting equality, and acting with integrity.
The Bible also warns against the dangers of pride and the accumulation of power for personal gain.
Proverbs 16:18 cautions, “Pride goes before destruction, and a haughty
spirit before a fall.” Many of the political dynasties in the Philippines risk falling into the trap of pride, believing that they are uniquely qualified to lead. However, Scripture teaches that unchecked power and arrogance ultimately lead to a leader’s downfall. History is replete with examples of leaders who, in their quest to hold on to power, lost sight of their moral obligations, leading to their eventual downfall.
Moreover, biblical teachings highlight the importance of righteous leadership. Proverbs 29:2 says, “When the righteous are in authority, the people rejoice; when the wicked rule, the people mourn.” A government led by righteous, servant-hearted leaders leads to the flourishing of society. Conversely, when leadership is corrupt or self-serving, the people suffer. Dynastic politics, by its very nature, risks prioritizing family loyalty over the common good, leading to policies that may benefit a few at the expense of the many.
Decidedly, the best armament against the ills of political dynasties is a transformation of the mind predicated on the servant-leadership structure modeled to us by no less than the greatest servant of all—Jesus Christ. As we in the Philippines continue to grapple with the issue of political dynasties and prepare for the 2025 elections, it is worth reflecting on these biblical principles, which offer a moral framework for what true leadership should be—selfless, just, and focused on the well-being of the nation.
( Author’s Note: This piece is attributed to a passionate and persevering worker who has worked most of her professional life in non-government organizations, my daughter Regina Victoria who incidentally turns 31 this month.)
A former infantry and intelligence officer in the Army, Siegfred Mison showcased his servant leadership philosophy in organizations such as the Integrated Bar of the Philippines, Malcolm Law Offices, Infogix Inc., University of the East, Bureau of Immigration, and Philippine Airlines. He is a graduate of West Point in New York, Ateneo Law School, and University of Southern California. A corporate lawyer by profession, he is an inspirational teacher and a Spirit-filled writer with a mission. For questions and comments, please e-mail me at sbmison@gmail.com.
Current and future state of the accountancy profession
By Marvin Galang
First of two parts
iN 2023, the accounting profession marked its centennial, a testament to its resilience in overcoming numerous challenges over the decades. However, since the onset of the pandemic in 2020, the profession has faced unprecedented threats that have not only shaken its credibility and trust but have also called into question its very essence. For instance, the collapse of a prestigious organization due to allegations of a Ponzi scheme revealed significant irregularities in financial reports—irregularities that respected auditors, who reviewed these reports, failed to detect, according to regulators. on a global scale, the entry of capital markets into the profession has prompted major firms to realign their operating structures, integrating alternative practice models. these models separate the “attest function” from advisory services by placing the former within regulated partnerships while establishing holding companies for the latter. this shift has sparked concerns about whether the role of adviser can truly remain independent, a principle that is fundamental to the audit function. additionally, allegations of examination cheating involving top accounting firms and professionals—some of whom are colleagues and individuals we deeply respect—further challenge the profession’s integrity.
Whether these concerns were valid or not should not obscure the fact that they underscore the need for the profession to be vigilant in maintaining the public trust. On one hand, there is a call for a greater government role to provide an effective program to ensure quality and adherence to standards. On the other hand, some may feel that any such authority over accountants is slight and the profession is becoming increasingly skeptical of the timing and benefits of greater government regulation. The crucial question for the profession is not the current attitudes of the government to regulate, nor the profession’s ability to react and respond. The real issue is the critical importance of the profession
to our capitalist economy and our society—the strength of the public’s trust in the private sector and accounting profession.
It is because the challenges we are facing are no longer confined to government regulations or accounting standards. They are multifaceted and have a direct impact not only to our top companies, but most importantly, to the hard working Filipino entrepreneurs who have dreamt, saved up, struggled to make ends meet, so they can start a small business.
The landscape of accounting is shifting rapidly, influenced by a variety of factors that are reshaping not just how we work, but why we work. Let’s begin by addressing the current state of our profession, both globally
and within our own borders.
1. Talent shortages: Across the globe, the accounting profession is grappling with a significant talent shortage. The demand for accountants, auditors, and financial professionals continue to rise due to more complex regulatory environments, increasing business activities, and the need for accurate financial reporting. A significant portion of the current accounting workforce is approaching retirement, exacerbating the shortage. Younger professionals are not entering the field in sufficient numbers to replace them.
Here in the Philippines, the decline in students entering accounting programs is alarming. Random survey that should be further validated shows a 41 percent decline in student enrollment in accounting programs leading to degrees eligible to sit in the CPA licensure exams. Subsequently, we also saw a decline of 35 percent in the number of CPA examinees from 2019 to 2023.
This trend is compounded by rigorous examination requirements and a growing perception that accounting is less attractive compared to other career paths. The repercussions of this shortage are far-reaching, affecting everything from the capacity of firms to take on new clients to the financial health of small and medium-sized enterprises (SMEs).
2. Impact of technology: The digital revolution is well underway in accounting. Automation and advanced accounting software are no longer the future—they are the present. While it provides significant opportunities, it presents challenges to the profession including continuous learning and re-skilling or up-skilling, cybersecurity risks, and changes
in job roles.
As accounting processes become more digitized, the risk of cybersecurity threats increased. Accountants must now be vigilant about protecting sensitive information and ensuring compliance with regulations.
The integration of technology in accounting means that professionals need to be proficient in using various software and tools. The rapid pace at which technology is progressing requires accountants to engage in continuous learning and professional development. Staying updated on new tools, software, on top of regulations is essential for maintaining relevance in the field.
Routine tasks, once the bread and butter of our daily work, are now handled by machines, freeing us to focus on data management, analysis, and strategic financial advising. This shift necessitates a new set of skills for accountants—technological literacy is now essential.
3. C ompetition from outsourcing and freelancing: The competition from outsourcing and freelancing presents significant challenges to the accounting industry in the Philippines, particularly in how it affects local accounting firms and the overall supply of accounting professionals.
Outsourcing firms, especially those catering to international clients, often offer more competitive salaries and better benefits than local accounting firms. This draws a significant portion of the talent pool away from servicing the local market. Working in outsourcing firms allows accountants to engage with global clients, providing them with diverse experience and exposure to international accounting standards. This is a compelling proposition for many professionals, leading them to prefer careers in outsourcing over traditional local accounting practices. Freelancing offers accountants flexibility in choosing their projects, clients, and working hours, which is a significant draw, especially for younger professionals who value work-life balance. This reduces the number of accountants available to work in traditional firm settings. Many freelance accountants can command higher rates per project, especially when serving international clients. This financial incentive encourages professionals to leave traditional firm employment. With advances in technology, accountants can easily provide their services remotely, enabling them to serve a global client base without being tied to a particular geographic location, further diminishing the talent pool available to local firms. Local accounting firms, especially small and medium-sized enterprises (SMEs), struggle to retain talent against the pull of outsourcing firms and freelancing opportunities. This leads to higher turnover rates and challenges in maintaining consistent service quality. In 2023, a survey conducted by Watson Wyatt, a top global HR consulting firm, shows a median voluntary turnover and attrition rate of 15.9 percent. However, in the Accounting and Finance sector, the median voluntary turnover and attrition rate is 43 percent.
To be continued
SOLIDUM
October 21,
PHL seen relying on coal as natural gas reserves shrink
By Cai U. Ordinario @caiordinario
THE Philippines could use more coal in the next few years as gasfired power generation declines due to the depletion of Malampaya’s gas reserves, according to a United Kingdom-based think tank.
BMI Country Risk & Industry Research, a Fitch Solutions company, said coal-fired power is expected to peak at 60 percent of the country’s power mix by 2025.
The think tank noted that the depletion of the Malampaya gas reserves will make it difficult to supply the expected 343.51 percent increase in natural gas consumption to 12.63 billion cubic meters (bcm) in 2033 from 2.85 bcm in 2022. As the market deals with the depletion of gas reserves over [the] short term, we expect the ramping up of coal-fired power generation to be the likely solution to make up for the shortfall in gas-fired power generation,” BMI said.
This will result in coal-fired power generation’s share of the power mix to peak at above 60 percent for 2023 to 2025, before dropping below 60 percent for the years
after 2025,” it added.
BMI noted that the Philippines was self-sufficient in natural gas until 2022. But in 2023 the country has become reliant on liquefied natural gas (LNG) imports which are forecast to rise to 11.68 bcm in 2033 from 3.1 bcm in 2023.
The UK-based think tank also said that long-term forecasts predict that gas production will see a 55.87 percent reduction to 0.94 bcm in 2033 from 2.13 bcm in 2024.
However, BMI said gas-fired power generation is expected to recover due to LNG imports. These imports will be fuelled by the completion of two LNG terminals last year.
Further, BMI noted that at the end of 2022, Prime Infrastructure Capital acquired 100 percent ownership of the Malampaya gas field from UK energy giant Shell.
Th e extension of the Service
DOLE asks PESOs to reach far-flung areas
By Justine Xyrah Garcia
THE Department of Labor and Employment (DOLE) chief is urging Public Employment Service Offices (PESOs) across the country to expand their services.
While PESOs have achieved significant milestones in job placements, there remains a pressing need for these offices to adapt to the evolving demands of the country’s labor market and ensure that these changes reach far-flung areas as well.
Currently, there are 1,592 PESOs operating across the country, serving millions of job seekers each year. In 2022 alone, PESOs assisted a total of 2.4 million job seekers nationwide. However, despite these numbers, many areas—particularly lowerclass municipalities—remain under serviced.
“ While highly urbanized cities like Zamboanga have greater access to IT resources, sixth-class municipalities remain underserved, if not u nserved,” said Labor Secretary Bienvenido Laguesma.
Th is gap in access is particularly higher for vulnerable groups, such as youth, women, and persons with disabilities, who often face additional barriers to employment.
“[ We must ensure] that all Filipinos, especially and particularly t hose from the vulnerable and marginalized sectors can access quality j obs that uplift both individuals and communities,” he added.
He said PESOs are in “a prime position” to advance policies promoting inclusive growth, including gender m ainstreaming and eliminating workforce violence.
Strengthening local coordination
IN a separate interview with BusinessMirror, DOLE’s Bureau of Local Employment Director IV Patrick Patriwirawan emphasized the importance of s trengthening local coordination— the backbone of the labor department’s assistance efforts.
It’s a feedback for us to make sure that our advocacy is maximized or we are able to reach those that should re-
ceive this kind of information,” he said. W hile the DOLE oversees the implementation of programs under PESOs, these offices remain under the management of the respective local government units (LGUs). And maybe that’s one thing that I can reiterate to the LGUs--to offer these opportunities not just to their usual clients,” Patriwirawan said.
Currently, only 725 out of the 1,592 PESOs nationwide are institutionalized or formally recognized within the LGUs’ government structure. Without the institutionalization of over half of these employment offices, most PESOs may struggle with funding, continuity, and resource availability—which can hinder their effectiveness in serving more jobseekers.
Digitalizing PESO
ASIDE from pushing for institutionalization, Laguesma said the PESO D igitalization roadmap would be a key initiative to modernize operations and expand accessibility for w orkers of all ages and sectors. The roadmap, he said, aims to combine physical offices with online platforms, providing real-time job matching, labor market information, and automated services.
“ Through this digitalization, we aim to provide employment services that are faster, more inclusive, and adaptable to the evolving needs of the labor market,” he said.
B y implementing this roadmap, PESOs are expected to improve their operational capacity, enabling them to deliver timely information about job vacancies and labor market trends.
Moreover, the digitalization efforts will facilitate the tracking of job pl acements and services offered, providing crucial data for policymakers to assess the effectiveness of employment initiatives.
“O ur goal is to standardize technology infrastructure across all pesos, so that every Filipino, regardless of their location, can benefit from t he services and programs we offer,” Laguesma said.
Contract 38 (SC 38) raises hopes for continued gas production. Nonetheless, BMI said “it remains to be seen whether planned drilling efforts would result in additional gas discoveries.”
“ We highlight that while the government is looking to diversify its power mix into other power types, such as the emergence of nuclear and offshore wind, these power types only have the potential to address energy security concerns in the longer term, currently past our forecast period, given the progress of the sectors’ development,” it added.
BMI said in terms of nuclear power, even if the Philippines and South Korea agreed to explore the potential of starting operations of the Bataan Nuclear Power Plant (BNPP), nuclear will still not be part of the country’s power supply in this decade.
A s for offshore wind power, the think tank said the govern -
ment has commissioned an offshore wind study with the World Bank in February 2023. It added that the Department of Energy (DOE) announced last month its plans to launch the bidding for offshore wind power projects by the end of 2024, with the aim of having the first offshore wind project operational by 2028.
BMI said major offshore wind investors and developers such as BlueFloat Energy, Copenhagen Infrastructure Partners, and Corio Generation have expressed interest in participating in the bidding.
“Despite these developments, we expect the emergence of offshore wind to be unlikely over the coming 10 years given then current state of progress,” it said.
Nonetheless, these development raises the possibility that the country will be able to have nuclear power and offshore wind power sooner rather than later.
105 RENEWABLE ENERGY PROJECTS FACE TERMINATION
By Lenie Lectura @llectura
effectively bring these projects into fruition. This strategy not only accelerates the development timeline but also strengthens investor confidence in the country’s renewable energy goals,” DOE Undersecretary Rowena Cristina Guevara said.
Show-cause order
THE DOE said it is implementing a clear contract termination process for RE projects. In the case of existing solar energy service contracts, developers have two
years to complete the pre-development stage, which includes obtaining permits, conducting surveys, performing feasibility studies and securing possessory rights. Should a developer fail to submit the declaration of completion (DOC) or demonstrate reasonable efforts within this timeframe, the DOE-Renewable Energy Management Bureau (REMB) will issue a show-cause order to request an explanation for the delay. Valid reasons for the delay, such as force majeure, may be allowed for an extension. If the reasons are insufficient or the developer does not respond, the REMB will recommend to the DOE Secretary the termination of the contract. The developer will also be required to fulfill all financial obligations, such as performance bond, payments for training commitment and development assistance, as provided under the service contract. Revised guidelines FOR the succeeding auctions, the DOE revised the guidelines to simplify administrative procedures, reduce delays, and encourage accountability among developers. This process helps to identify and filter out non-serious developers, paving the way for legitimate developers committed to constructing renewable energy projects efficiently, the DOE said. O ne significant change is the requirement to obtain a certificate of authority (COA) before signing a renewable energy contract. The COA is a critical step in the development process, as it empowers developers to secure the necessary permits and conduct essential surveys and pre-feasibility activities even prior to the commencement of the official 25-year
THE Metropolitan Manila Development Authority (MMDA) will activate its Oplan Undas 2024 from October 27 to November 4 to prepare for the expected exodus of passengers going to provinces for the observance of this year’s All Saints’ and All Souls’ Day.
M MDA Chairman Romando Artes also said a total of 1,257 personnel from Traffic Discipline Office, Special Operations Group-Strike Force, Metro Parkways Clearing Group, and Road Emergency Group who will focus on priority areas such as bus
terminals, cemeteries, and major thoroughfares.
We will also implement ‘No Day Off, No Absent Policy’ for our traffic personnel,” Artes said.
He said the schedule of duties will be extended until midnight a day before and after Undas to increase visibility and to intensify traffic management.
L ast Friday, the agency gathered the Philippine National Police-Highway Patrol Group, National Capital Region Police Office (NCRPO), and all traffic bureau chiefs of all Metro Manila local government units to discuss their
respective traffic management plans and emergency responses for a peaceful Undas.
A rtes said concerned agencies should prepare by implementing effective measures to alleviate traffic flow in major thoroughfares and in roads leading to and from major cemeteries in metropolis.
T he agency, through its Road Emergency Group, will likewise deploy 12 tow trucks and 6 ambulances to provide public assistance and immediately respond to any emergencies. Help desks and command posts will also be set up in bus terminals.
Meanwhile, the Metro Parkways Clearing Group will
Editor: Jennifer A. Ng
FGEN to continue supplying power to GMC’s Cebu plant
By Lenie Lectura @llectura
PUBLICLY-LIsted First Gen Corp. (Pse: FGeN) and privatelyheld food manufacturer General Milling Corp. (GMC) announced the renewal of their energy supply deal.
Under the agreement, FGEN through subsidiary Green Core Geothermal Inc. (GCGI) will continue to power GMC’s largest food manufacturing complex in Lapu-Lapu City, Cebu, with electricity from GCGI’s geothermal power plant in Negros Oriental.
The new agreement, signed last October 9, extends the eight-year collaboration between GMC and FGEN that began in 2016 under the government’s Retail Competition and Open Access (RCOA) policy, which allows businesses with substantial
electricity demands to choose their own energy provider.
“We are betting big on renewable energy because it’s the future of sustainable manufacturing. This partnership with FGEN ensures that we are not only meeting today’s energy needs but doing so in a way that aligns with our long-term environmental goals,” GMC President Anna GurangoVicencio said in a statement. “By integrating more clean energy into our operations, we are future-proofing our business while
making a positive impact on the environment.”
With operations spanning flour and feed milling, livestock breeding, and hatchery production, GMC’s Lapu-Lapu manufacturing complex is a critical part of its operations. The plant also includes a wharf that supports the efficient movement of large cargo ships.
“We have seen the tangible benefits of renewable energy in our operations over the past years,” added Gurango-Vicencio. “The partnership with FGEN is a vital part of our strategy to keep our energy sources sustainable as we scale our operations and deliver high-quality products to our customers nationwide.”
FGEN’s Vice President for Power Marketing, Trading, and Economics Carlo Vega emphasized the importance of long-term collaborations to achieve decarbonization.
“Aside from helping GMC reduce the carbon footprint of their manufacturing operations through
a steady renewable energy supply, we are committed to partner with them in their journey towards decarbonization—by helping them harness more RE and integrate this into their operations, and rationalize their power usage,” Vega said. “It is through continuous collaboration that we can find balance between maintaining sustainable business while mitigating environmental impact.”
GMC operates additional sites in Cagayan de Oro, General Santos, and Calamba, with headquarters in Makati City and Bonifacio Global City, Taguig.
FGEN has 3,668 megawatts of combined capacity from a fleet of 32 power plants running on clean and RE resources. It has the country’s largest RE capacity at 1,651 MW from its solar, wind, hydro and geothermal power plants. Its other power generation facilities, which have 2,017 MW of combined capacity, run on natural gas.
DNL head office gets LEED-certified
CHEMICAL manufacturer D&L Industries Inc. (PSE: DNL) announced it has secured another LEED Gold certification from Barone International Inc. for the operations and maintenance of LBL Building, the company’s head office in Quezon City.
Over the 12-month observation period, DNL’s head office building demonstrated that its operations consistently meet LEED standards and that any improvements or changes made are durable and impactful, the company said.
Based on the results of the evaluation, the building exceeds both global and local average scores for energy efficiency, waste management and indoor air quality. In addition, it uses zero ozone depletion potential (zero-ODP) refrigerant for its air conditioning system.
“As we strive to embody sustainability, we continue to look at ways on how to improve our operations and minimize our environmental footprint,” DNL President and CEO Alvin D. Lao said. “We believe that getting a LEED Certification for our facilities is a great way to ensure that our operations adhere to global best practices when it comes to sustainability. It is part of our commitment and advocacy to create a sustainable future by offering sustainable products manufactured by truly sustainable facilities.”
The company also recently secured LEEDv4 Gold Certification of its Batangas plant Central Hub. LEED or Leadership in Energy and Environmental Design certification, is a globally recognized symbol of sustainability achievement and is the world’s most widely used green building rating system. It provides a framework for healthy, highly efficient and cost-saving green buildings, which offer environmental, social and governance benefits.
The LEED v4.1 O+M rating system, the company’s certification, requires a 12-month performance monitoring and evaluation of key environmental aspects which include greenhouse gas emissions, energy efficiency, water efficiency, ozone protection, location and transportation, waste management, environmental impact and indoor environment quality. VG Cabuag
GLOBE Telecom Inc. (PSE: GLO) announced it has reduced electricity consumption by 4.2 percent since it adopted the AI-based “Energy Efficiency Orchestration” application of American multinational corporation Qualcomm Inc.
San Diego, California, USA-headquartered Qualcomm, in partnership with Amdocs Ltd., announced a significant expansion of its RAN Automation platform, Edgewise, within Globe’s network, according to GLO. The application has been operational nationwide in the telecommunications firm for the past seven months and is powered by “AWS Cloud” infrastructure.
The reduction in the firm’s energy consumption underscored the tangible benefits of Qualcomm’s advanced technology in delivering substantial environmental and operational gains for telecom operators like GLO.
This strategic move aims to empower GLO to maximize the energy efficiency of its existing RAN equipment, thereby minimizing carbon emissions, reducing operational expenditure and achieving optimal energy cost savings, according to the publicly-listed firm.
“Qualcomm’s AI-powered solution has enabled us to significantly reduce energy consumption across our RAN while maintaining optimal network performance for our customers,” said Joel Agustin, head of service planning and engineering at GLO. “This collaboration is a testament to our dedication to sustainability and innovation in delivering superior network experience, as we aim for decarbonization and achieving net zero carbon emissions by 2050.”
According to the company, Qualcomm’s application utilizes advanced artificial intelligence (AI) and machine learning algorithms to intelligently orchestrate telecom operators’ existing RAN equipment. This enhances energysaving activities dynamically at a cellular level while safeguarding an optimal user experience. A key advantage of this approach is its ability to address the complexities associated with evolving energy needs, maximizing energy-saving time windows, and adapting seamlessly to traffic fluctuations and network changes.
“Qualcomm, with its AI-powered solutions, is partnering with telcos to maximize their network energy efficiency. The telco industry embraces AI and automation as important technologies for their energyeffective strategy, and Qualcomm, powered by Edgewise, is proud to be part of Globe’s journey to innovate and fulfill their green energy-saving strategy,” said Qualcomm Vice President ST Liew. In line with its commitment to decarbonization and achieving net zero carbon emissions, the telecom giant has been actively exploring innovative solutions to amplify energy efficiency.
“The challenge has been to strike a delicate balance between reducing energy consumption and efficiently maintaining network quality,” GLO said. The company added it found Qualcomm’s solution to be “a gamechanger.” The adoption of this solution simplified operations significantly, offering a holistic, flexible and customizable approach, according to GLO. Lenie Lectura
PARTNERSHIP Citystate Savings Bank (CSBank) President Jaime Valentin Araneta (left), Brink’s National Operations Director Sigfredo Rivera (center) and CSBank Operation Support Group Head Haydee Victoria Cajilog sign the memorandum of agreement (MOA) on the outsourcing of cash management services. Story on B3. No N e Reyes
Banking&Finance
THRIFT bank Citystate Savings Bank (CSBank) has tapped Brink’s Philippines Inc., global leader in cash management and security solutions, to enhance its cash logistics and provide better service to its clients.
At the sidelines of the signing of a memorandum of agreement with Brink’s executives last Friday, CSBank President Jaime Valentin L. Araneta told the BussinessMirror the bank’s partnership with Brink’s will improve its operational efficiency and responsiveness to its clients’ needs, including its sister companies under the ALC Group of Companies.
“We will be able to handle [our clients’] cash requirements much better, and this partnership with Brink’s is an integral part of our overall push in cash management solutions,” Araneta told the BusinessMirror, which is also a part of the ALC Group of Companies as CSBank is.
CSBank targets the full implementation of Brink’s cash management services across its 33 bank branches before the start of the holiday rush, when its cash requirements would be the heaviest for the entire year.
Araneta noted that despite the growing digitalization of transactions, there will always be a continuing place for cash in bank transactions and for their clientele.
“There’s a need to be very efficient in the handling of that cash, both in terms of responding to the needs of customers as well as in providing our own branches with that necessary support,” Araneta stressed.
For its part, Brink’s Vice President for Asia Pacific Baskaran Narayanan told the BusinessMirror the outsourcing opportunity will support CSBank’s cash management and distribution by filling in additional security in logistics.
“Brink’s is honored to have CSBank as a partner in the Philippines because it aligns with our growth propensity in the country,” Narayanan said.
Apart from cash transportation through its armored car services, Brink’s aims securely handle CSBank’s cash deposits and pick-ups as well as offer retail cash solutions and smart safe technology.
“This is just one of several that we intend to embark on in order to serve our clients better and to acquire new customers,” Araneta added.
The agreement was signed by Araneta, CSBank Operations Support Group Head Haydee Victoria A. Cajilog and Brink’s National Operations Director Sigfredo Rivera.
CSBank ranked 18th among 42 thrift banks in the country in terms of assets, with P6.229 billion. Reine Juvierre Alberto
BPI Wealth to enhance investment awareness of Filipinos via events
By VG Cabuag @villygc
THE wealth management arm
of the Bank of the Philippine Islands has launched a “Wealth Wellness Month,” an initiative aimed at “enhancing investment awareness and empowering Filipinos” at every stage of their financial journey.
“October is recognized as National Financial Planning Month in the United States, making it an ideal time for the Philippines to embrace a similar focus on financial literacy,” BPI Wealth-A Trust Corp. President and CEO Maria Theresa D. Marcial said.
“With the ‘Wealth Wellness Month,’ we seek to address this critical need by providing essential resources and targeted programs that encourages Filipinos reassess their situations and take decisive actions as the holiday season and the new year approach,” Marcial added.
Throughout the month, a series of curated programs will equip individuals with the essential tools and resources to take charge of their financial futures.
The “Wealth Wellness Month” kicks off with “FinQuest: Road to Financial Inclusion,” a program tailored for graduating students that explore money management, earning potential and the vital role of financial education. The initiative began with the “Financial Inclusion Challenge,” where over 40 participants submitted project proposals to improve investment accessibility in the Philippines. From this pool, 15 teams advanced to showcase their ideas before a panel of industry experts.
On October 21, “FinQuest” will culminate in “The Forum,” celebrating the three winning teams and their creative solutions. This event will also feature talks on financial wellness and management, designed for young adults entering the next phase of their lives.
There is also the “BPI Wealth Summit,” an annual wealth management event, scheduled on
Co-ops warn vs tax evasion if treated as private firms
By Reine Juvierre Alberto @reine_alberto
CO-OPERATIVES warn that their business model should not be structured after corporations as doing so would create loopholes for tax evasion by single-entity companies.
During a news briefing on Thursday, the Philippine Chamber of Cooperatives Inc. (Co-op Chamber) lobbied to maintain the current voting system of primary, second and tertiary cooperatives.
This comes after the Committee on Cooperatives issued a committee report on the proposed amendments to cooperatives’ voting system under Republic Act (RA) 9520 (Philippine Cooperative Code).
One of the proposals is to enable federations to adopt incentive voting in their bylaws, allowing
TBy Cai U. Ordinario @caiordinario
HE country’s external debt service burden (DSB) declined 7.64 percent in the January to July period this year, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
October 26. This onsite summit will be simultaneously streamed on the bank’s Facebook page and will provide young professionals access to expert insights, innovative investment opportunities and powerful tools to enhance their financial acumen.
Participants will get a first look at the soon to be launched BPI Wealth Builder Multi-Asset Mutual Fund Inc., a new mutual fund to be managed by BPI Wealth. The BPI Wealth Builder is designed to grow with investors and support their financial journey.
With a minimum investment of P1,000 and automatic top-ups starting at P100, it offers both flexibility and convenience. The fund will also provide cumulative health, medical and life protection benefits, making it a versatile tool for securing one’s financial future.
The BPI Wealth Wellness Month also caters to corporate clients through Building Better Futures, a thought-leadership event on October 22. Designed to be a retirement playbook for forward-thinking organizations, this event delves into changing workforce demographics, shifting attitudes toward retirement, and the global economic factors shaping these dynamics.
The BPI Wealth Wellness Month will conclude with Beyond Wealth on October 29, an approach to estate planning. The webinar is designed to educate BPI Wealth employees on estate planning by addressing common questions and emphasizing the link between financial well-being and positively impacting families and communities.
“BPI Wealth Wellness Month represents a pivotal moment in our dedication to supporting Filipinos at every financial stage. As we look ahead, we remain committed to sustaining this momentum and launching more innovative initiatives that will advance our mission of enhancing financial well-being for all Filipinos,” Marcial said.
The data showed as of July, the country’s debt service burden declined to $7.69 billion from the $8.33 billion posted in the same period last year.
The country’s debt service burden in July is the lowest since the fullyear figure $7.54 billion recorded in 2020.
“Debt service burden represents
SIX months after rewards for validating transactions on the Bitcoin network were reduced by half, crypto mining companies are choosing between two divergent paths to remain viable.
Public miners including MARA Holdings, Riot Platforms and CleanSpark are keeping the Bitcoin they produce with the expectation that the digital asset will rise in value. At the same time, an increasing number of companies are spending more on developing data centers that power artificial intelligence applications.
The industry bifurcation has intensified since the software update in the blockchain took place in April. Called the halving, the preprogrammed event reduces the Bitcoin reward, which is the main revenue source of miners, by 50 percent every four years. The curtailment aims to maintain the hard cap of 21 million Bitcoin and keep the cryptocurrency from being inflationary.
“With the halving significantly squeezing profit margins, one of the few strategies available to retain investors is for miners to hold onto the Bitcoin they’ve mined, betting on future price appreciation while relying on equity or debt financing,” said Wolfie Zhao, an analyst at research firm TheMinerMag. “By avoiding the immediate sale of Bitcoin at a loss, they can keep potential losses unrealized and position themselves for gains if a bull market materializes.”
While the shares of the majority of the companies have underperformed Bitcoin’s more than 60 percent rally this year with future mining revenue
member-cooperatives to have one basic vote and up to five incentive votes. The proposal seeks to give voting rights to member-cooperatives proportionate to the number of their paid-up shares, wherein at least a third of the board seats must be reserved for small shareholders. Votes cast by delegates are treated as if the members themselves voted, allowing proxy voting in cooperatives other than primary ones.
Co-op Chamber Executive Director Edwin A. Bustillos told re-
principal and interest payments after rescheduling. (It) consists of Principal and interest payments on fixed MLT (medium to long term) credits including IMF credits, loans covered by the Paris Club and commercial banks’ rescheduling, and New Money Facilities (as well as) Interest payments on fixed and revolving short-term liabilities of banks and non-banks,” explained the BSP in a statement.
The country’s DSB in the January to July period consists of $3.112 billion worth of principal payments and $4.581 of interest payments. The principal payments level was 28.15-percent lower than the $4.331 billion posted in the January to July
porters on the sidelines that the business models of cooperatives and corporations differ from one another.
Under the cooperative model, a cooperative is allowed for one vote plus one incentive of up to a maximum of five votes; while a corporate model adopts a shared voting.
Should cooperatives follow a shared voting system, Bustillos emphasized that this would lead to the creation of “dummy corporations” registered as cooperatives to avail of the tax exemption perks.
Registered cooperatives transacting business with their own members are exempted from paying income tax, value-added tax (VAT), percentage tax, donor’s tax, excise tax, and documentary stamp tax under the Cooperative Act. Meanwhile, registered cooperatives with accumulated reserves and undivided net savings of not more than P10 million are also tax-exempt.
However, there have been proposals before seeking to remove the tax exemption perks of cooperatives aimed to usher in foreign invest-
period last year. Principal payments was also the lowest year to date figure recorded since the $2.998 billion posted in the full year of 2015.
As for interest payments, the figure as of July is 14.58 percent higher than the $3.998 billion posted in the January to July period last year. It can be noted that last year, interest payments reached $7.062 billion in the whole of 2023. The January to July period figure this year is just $2.481 billion more than the 7-month figure this year.
The BSP said the DSB, however, does not include prepayments on future years’ maturities of foreign loans as well as principal payments
constrained, traders appear to be voting which strategy will succeed, with those embracing AI posing the largest gains.
MARA and Riot, two of the largest publicly-traded Bitcoin miners and both “hodlers,” have seen their shares slump 20 percent and 36 percent, respectively, this year. Hodl is industry slang for holding the cryptocurrency for the long term.
Core Scientific, which emerged from bankruptcy in January, has seen its stock almost quadruple since announcing a series of multibillion dollar contracts with AI upstart CoreWeave. The miner will retrofit some of its data centers to host graphics processing units that can generate high-performance computing power for AI applications. TeraWulf, whose stock has more than doubled this
year, is developing AI data center space as well, granted it is a fairly small-cap stock. Shares of other Bitcoin miners that are dedicating more resources to AI such as Iris Energy and Bit Digital tend to trend above some of their peers that are doubling down on holding the Bitcoin they mine.
It remains unclear what will prove to be the winning strategy. While AI is all the rage, there have been signs of cooling interest in the sector. There are also questions about whether some of the Bitcoin miners have enough resources and a strong enough commitment to join the AI race as that is a capital-intensive process.
In the meantime, the Bitcoinholding miners have become better at timing the cycles of the crypto
ments and increase private investors in rural areas.
Tax perks
CO-OP Chamber Chairman Noel D. Raboy expressed disapproval of such a proposal, underscoring cooperatives’ role in nation-building, particularly in rural areas where members rely on the organization.
“We are saying no to the removal of tax exemption on cooperatives,” Raboy said.
Although cooperatives don’t pay taxes, Co-op Chamber Trustee Marlene D. Sindayen said these organizations are “tax creators.” Sindayen said cooperatives pay taxes through their purchases as well as employ workers who pay their income taxes.
“Katulong niyo kami sa pag-create ng tax. Kaya dapat, ’yung katulong, hindi mo na paparusahan doon sa kanyang negosyo na ang main purpose naman ay umangat ’yung mga tao,” she added. [We are helping you in creating taxes. That’s why those who help you shouldn’t be penalized in their business, which the main purpose is to also help the people.]
on fixed and revolving short term liabilities of banks and non-banks. In 2000, the BSP adopted the Balance of Payments Manual, Fifth Edition (BPM5) for the compilation of its Balance of Payments (BOP) statistics starting with the 1999 series. In March 2014, the BSP completed its shift to the Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6), covering BOP data from 2005. In March 2015, external debt data were revised to reflect the new reporting framework in line with international standards under the latest External Debt Statistics Guide and the BPM6.
market after suffering from a industry meltdown in the past few years. For some companies, especially the large-scale operators such as MARA and CleanSpark, Bitcoin mining is still profitable with positive gross margins.
“Our view is that pure-play Bitcoin mining has a place in the market currently with the respect to generating economic value from growing capacity to mine Bitcoin,” said Paul Golding, a senior analyst at Macquarie Capital USA. He has “outperform” ratings on MARA, Riot, Core Scientific, Iris Energy, CleanSpark and Cipher Mining.
Advances in the efficiency of the hardware as well as potential appreciation in Bitcoin are among the reasons that miners can keep viable from a gross margin perspective even after the halving, Golding said. With Bitcoin rising again in the wake of the 2022 market collapse, miners have resumed borrowing, as well as issuing more shares. And this time around, companies such MARA are even using the proceeds to purchase crypto, emulating the buy-and-hold strategy MicroStrategy has used to morph from an little-known enterprise software maker to the world’s most prominent Bitcoin proxy.
“In a rising Bitcoin price environment, it is going to be an extremely successful strategy, but it’ll be a disaster if Bitcoin prices plummet,” said Ethan Vera, chief operating officer at Luxor Technology. “You will continue to see negative profits and they are hiding how bad the industry is right now and how bad their operations are by diluting shareholders and buying newer machines.” Bloomberg News
CryptoCurrenC y AtMs in Hong Kong. CREDIT: PhoTogRaPhER Paul YEung/BloomBERg
THE KREMLIN CONNECTION:
Inside the campaign to promote anti-Ukraine content on social media
By Alan Suderman & Garance Burke The Associated Press
The Kremlin could not have asked for better publicity at a better time when Ben Swann, a self-described independent journalist who promotes conspiracy theories, released a 12-part video series he promised would reveal dark truths about Ukrainian President Volodymyr Zelenskyy.
Swann’s flashy documentary-style videos were filled with innuendo, attacks on Zelenskyy’s character and commentary from guests sympathetic to Russia in its two-year war with Ukraine.
The series, titled “Zelenskyy Unmasked,” launched in April as Congress was debating increasing military assistance to Ukraine, and it quickly caught the attention of conservative social media influencers who hyped the project to their millions of followers.
Among those who promoted the series was Donald Trump Jr., the former president’s eldest son.
“Curious about the billions of dollars and weapons Congress sent Ukraine?” Trump Jr. posted on X, Truth Social and Threads. “You need to watch the first episode of the explosive 12-part series.”
Unlike other conservative media personalities who last month expressed shock upon learning they may have been secretly financed by the Kremlin, Swann has no such qualms.
h e ’s worked for Russia’s state-owned media empire for years, with one of his companies earning millions of dollars for producing Kremlin-friendly shows.
The creation of “Zelenskyy Unmasked” and its viral spread reveal how widely Russia-backed talking points are traveling on social media— a trend that concerns current and former US intelligence officials and disinformation experts.
An investigation by The Associated Press also provides insights into the shadowy and profitable world of political influencers who are not required to disclose who is paying them, raising transparency concerns about their political endorsements in the largely unregulated realm of social media.
Swann brought on a digital marketing firm to publicize “Zelenskyy Unmasked,” and at least one creator acknowledged he was paid to promote the series.
Dire warnings
The revelations about Swann’s work for Russia come as US authorities have issued increasingly dire warnings about the threat posed by Russian disinformation campaigns. In addition to undermining Ukraine, the Kremlin is seeking to disrupt the presidential election and sow discord in the U.S. and elsewhere in the West, those officials have said.
US officials are particularly concerned about Russia’s covert efforts to take advantage of unwitting Americans to spread Moscow’s message and use artificial intelligence to quickly tailor false content.
Russia’s influence operation also appears aimed at boosting support for GOP presidential candidate Donald Trump, who has criticized Ukraine and praised Russian President Vladimir Putin, the officials said. Trump has dismissed evidence of Russian influence operations, and he and many of his supporters have mocked the broader US government’s effort to highlight Kremlin propag anda efforts.
Registered with the DOJ
S WA NN f iled paperwork with the
Justice Department two years ago to register one of his companies as working for Russian state media. In an interview with the AP, Swann said he has kept his work for Russian interests separate from what he produces for US audiences. h e h as done this, Swann said, by operating two companies—one that generates content for Russian media and another that produces independent journalism, like “Zelenskyy Unmasked,” for US audiences.
“The only connection is that I own both companies,” Swann said.
The AP, however, found that there was some overlap in how the two entities operated.
A handful of guests on “Zelenskyy Unmasked” also appeared on RT shows produced by Swann, according to a review of RT’s video archives and records filed with the Justice Department.
Swann’s shows for US audiences and RT also have similar themes. The Zelenskyy series, for example, echoed Russian state media’s messaging that the Ukrainian president is a would-be autocrat who has duped the West into supporting a conflict that Russia will inevitably win.
A former TV anchor
S WA NN , 4 6, was a longtime TV journalist before he was fired from an Atlanta station in 2018 after promoting the debunked “Pizzagate” conspiracy that alleged Democrats were abducting children to serve as sex slaves. he h as since become a social media star who portrays himself as someone daring to ask uncomfortable questions on tough topics—revolving around unfounded claims such as whether the Sandy h o ok school shooter acted alone, the coronavirus vaccine was a money-making ploy by big pharmaceutical companies, and Israel was a ”participant” in the massacre of Oct. 7, 2023.
Swann joined Robert F. Kennedy Jr.’s anti-vaccine organization, Children’s h e alth Defense, in a lawsuit pending against several news organizations, including the AP, accusing them of violating antitrust laws by taking action to identify misinformation, including about Covid-19 and Covid-19 vaccines.
Swann said he worked as a correspondent for RT America, a cable channel that was part of a Russian state media outlet, until it went off the air following Russia’s invasion of Ukraine. RT officials then asked if he wanted to produce shows for the network to air outside the US, Swann said.
“I said, ‘Well, I can’t produce shows for the United States, but if these shows are for overseas, I’ll help you produce them.’ So I started doing that for them, and we’ve been doing that ever since,” Swann said in a July interview.
Producing RT shows
S WA NN said he produced 10 shows a week using RT America’s old studios in Washington, and he stressed that those shows don’t air in the US or Western e u rope, although they are visible across the globe on RT’s website.
Under the Foreign Agents Registration Act, individuals must register with the Justice Department when they seek to influence US policy and
public opinion on behalf of foreign governments. Not doing so can result in criminal charges.
Swann’s company, Rebel Media Productions, first registered with the Justice Department in August 2022, saying it worked for RT’s parent company and related entities. The disclosures show Rebel Media Productions was paid more than $6 million in less than two years by RT-related entities.
RT, formerly known as Russia Today, is a major player in Russia’s sprawling propaganda apparatus, and a target of US efforts to block Moscow’s covert influence.
The Justice Department has said RT has links to Russian intelligence agencies, while the US State Department recently unveiled new sanctions on Russian state media. The sanctions target RT’s parent organization, TV Novosti, which Swann contracted with for his Russia-related work.
In February, Swann stopped reporting Rebel Media’s work for Russia to the Justice Department, even as his company kept producing RT shows.
Swann said he ended that registration with the Justice Department because his attorneys told him it wasn’t necessary, despite his company’s continued work for RT. “They said, ‘Why are you making things more difficult for yourself?’” Swann said.
In response to the recent sanctions, Swann said his company last month severed all ties to RT.
“While we disagree with the censorship of our journalists, who were doing quality work on behalf of our client, we have and will continue to respect the rule of law,” Swann said in a statement.
The Justice Department declined to comment.
‘Assume they don’t like Zelenskyy’ S WA NN s aid he creates content—like the “Zelenskyy Unmasked” series— for American viewers through another company, Truth in Media.
Truth in Media, Swann said, isn’t profitable and is funded by wealthy US individuals whom he refused to name. “Most of them own very large companies,” he said, “if not publicly traded companies.”
Swann said the large payouts he received from Russian state media had not influenced his work on “Zelenskyy Unmasked,” but he acknowledged Russia’s leaders probably liked the series’ tough take on Ukraine’s president.
“I don’t know, I assume they don’t
like Zelenskyy,” Swann said.
Many of the guests interviewed in “Zelenskyy Unmasked” have been RT contributors and guests on its programs.
That includes RT contributor Tara Reade, who briefly moved to Moscow after accusing President Joe Biden of assaulting her in the 1990s; former Ukrainian diplomat Andrii Telizhenko, who was sanctioned by the U.S. Treasury on allegations he had close ties to a “Russia-linked foreign influence network”; and Russell Bentley, an American citizen known to have fought with Kremlin-backed separatists and worked for Russian state media, who died earlier this year in Ukraine.
Another guest who has appeared on RT shows and in the Zelenskyy videos is Scott Ritter, a former UN weapons inspector sympathetic to Russia whose upstate New York home was raided in August by the FBI. Ritter told the AP that FBI agents in their questioning made clear that they were investigating his Russia-related work but did not ask specifically about his work with Swann.
Ritter provided the AP with a copy of an email he said was from a booking producer for Swann’s RT shows asking him to appear in the Zelenskyy series.
Ritter said an email invitation he received to participate in “Zelenskyy Unmasked” indicated that its executive producer was Sean Stone, who hosted an RT show and is the son of the filmmaker Oliver Stone.
Sean Stone did not respond to requests for comment, and Swann did not respond to a question about Stone’s involvement on the series.
Swann said his RT-linked company had passed along guest contact details to his business producing “Zelenskyy Unmasked.”
The two entities did not share staff, he said.
An ‘explosive’ series
T RU T h i n Media began teasing the “Zelenskyy Unmasked” videos earlier this year on its website, writing the “explosive” 12-part series would answer “who is really benefitting from the $100 billion the US has sent Ukraine.”
At that time, hard-right congressional Republicans were fighting a proposal to send more money and weapons to Ukraine.
h o use Intelligence Committee
Chairman Rep. Mike Turner and h o use Foreign Affairs Committee
Chairman Michael McCaul, both Republicans, said some GOP lawmakers had been heavily influenced by Russian talking points. Turner said on CNN that some of those talking points were being “uttered on the h o use floor.”
To promote “Zelenskyy Unmasked,” Swann said he paid for advertising on social media but believes the series received its most substantial boost in viewership thanks to promotion from conservative influencers. Swann’s videos that were embedded in X posts garnered tens of millions of views.
“When you have different influencers that you can send it directly to, who can watch it for themselves, decide if they like it, and then share it, that’s a pretty powerful tool,” Swann said. “That’s more powerful than the actual marketing of it on Meta or X.”
With the assistance of the tech firm Bright Data, the AP identified a core group of influencers who played a significant role in helping promote the series. Posts by those influencers were shared by at least 9,300 other unique X accounts that have 33 million total followers, according to an AP analysis of “Zelenskyy Unmasked” X data created by Syracuse University’s Institute for Democracy, Journalism and Citizenship.
Influencers promote videos
The spread of “Zelenskyy Unmasked” highlighted how such influencers are playing increasingly pivotal roles in politics, and many have become de facto campaign surrogates for Democratic and Republican candidates.
Trump told a core group of conservative content creators—who met in a “war room” during the last presidential debate—that they “are more important than I am.”
Some of those same influencers promoted the series, using identical or similar language to what Swann or Truth in Media promoted online.
Chaya Raichik, the founder of the far-right Libs of TikTok social media accounts, echoed Truth in Media’s promotion of the series, tweeting: “Where did $100 billion of our tax dollars that Congress sent to Ukraine go? Watch ‘Zelensky Unmasked’ to find out!” Raichik did not respond to requests for comment.
When Truth In Media promoted the third episode in the series, it tweeted, “The list of rich and powerful people profiting off the war in Ukraine
includes President Biden and his son, but they’re far from the only ones.”
A few days later, C.J. Pearson, co-chair of the Republican National Committee’s Youth Advisory Council, wrote the exact same thing in a tweet about “Zelenskyy Unmasked.”
Others who touted the series were former Trump campaign attorney Jenna e l lis; Morgonn McMichael, a young creator linked to the rightleaning group Talking Points USA; and Andrew Giuliani, a former New York gubernatorial hopeful and the son of Trump confidant Rudy Giuliani. e l lis, McMichael and Giuliani did not respond to requests for comment from the AP.
Conservative influencer Xaviaer DuRousseau, another member of the RNC’s Youth Advisory Council, said he was paid to promote ”Zelenskyy Unmasked” on X through Urban Legend, an influencer marketing firm led by a former Trump administration staffer. DuRousseau did not disclose how much he was paid, said he was unaware of Swann’s work for Russian state media until interviewed by the AP and said he would carefully consider any future collaborations.
“Is there maybe an ulterior motive to you being against Ukraine? Potentially,” he said. “But I would stress myself out so much if I researched every single person in this industry that thoroughly, to be honest.”
Swann said Truth in Media hired Urban Legend to help with marketing, but didn’t know the details of its work.
“We didn’t know whether or not they were talking to influencers,” Swann said in a statement.
Urban Legend declined to discuss its financial relationships with specific influencers. The company said in a statement that it had been unaware of Swann’s ties to RT and would no longer work with Truth in Media.
Among Swann’s most influential promoters was the former president’s son, Trump Jr., who did not respond to requests for comment from the AP. In a tweet on April 5, Trump Jr. hailed the series as “explosive” for exposing “the truth behind the war in Ukraine!”
The social media platform’s users added a community note to his tweet that noted Swann’s ties to Russia and said his claims “are likely to be disinformation.”
The warning did not seem to deter Trump Jr. A few days later, he again took to X to praise Swann’s work—in identical language.
Th I s image shows several webpages of posts on X from May 2-6, 2024, promoting the Ben swann video series “Zelenskyy Unmasked.” AP Photo
Full Throttle: TernoCon 2025
BRING THE HOLIDAY
MAGIC INTO YOUR HOME
PREPARING for the holidays is an exciting time for the entire family. The sparkle of decorations and the sound of lively Christmas songs bring joy to many people. Malls are also becoming more crowded as people start giftshopping for their loved ones.
Every year, we’re always looking for ways to change up our holiday celebrations at home—be it through a different style for the decorations or going big with your gifts. If you’re still setting up your holiday homes, jot down these ideas. A classic Christmas tree only has the usual red and green baubles and a star perched on top. This year, you can level up your tree game with an eye-catching theme. Create a Candyland-inspired tree with pastel-colored ornaments and surround it with nutcracker figurines and whimsical lollipops. If you’re looking to emulate a snowy Christmas, you can cop a white tree and style it with gold and silver baubles and fillers.
Once you’ve chosen a Christmas tree design, make sure your home decor matches the theme. Grab wreaths and garlands of the same color scheme to hang on your doors and decorate different surfaces in your home. You can also add cute throw pillows with festive prints on your couch.
You can find all the Christmas trees, decor and other holiday essentials you need at Robinsons Department Store’s Christmas Shop Holiday Decor Collection. This one-stop shopping destination will help you bring the holiday magic to your home with its exquisite line of decorations for every corner of your space. You can check out the e-catalog at tinyurl.com/58ckpva3.
Also, start listing down the gifts you want to give to your friends and family. If you’re having trouble thinking of gifts for the men in your life, fret not because Robinsons Department Store has a Men’s Super Sale with up to 70-percent off on select men’s items ongoing until October 31, 2024.
The store sweetens the deal with the E-Raffle Promo. For a minimum purchase of P3,000 from the Men’s Section, you get the chance to win one of 28 prizes, including a PlayStation 5, designer watches, and more. The holiday decor and gift suggestions are available across all Robinsons Department Store branches nationwide and online marketplaces in TikTok Shop, LazMall, and Shopee.
N its fourth edition, TernoCon continues to be the most exciting event in Philippine fashion. -making convention and competition for Filipino designers remains true to its mission of championing the Philippine dress.
“It has always been our passion to promote Filipino culture through fashion design. With Ternocon, we preserve an integral part of our Filipino heritage through education, exhibition and public awareness,” said Suyen Corp. chairman and CEO Ben Chan.
The first edition in 2028 was conceived primarily out of a need to further promote the importance and relevance of the terno—with its very distinct stiffened butterfly sleeves.
Second, it was to connect the skills learned through the regional workshops which was a byproduct of the Bench publication Fashionable Filipinas authored by Mark Higgins and Gino Gonzales. And third, it hoped to inspire and motivate designers from the regions to create ternos that are a par with the construction techniques of seasoned designers. Participants then were tasked to create a formal terno and a balintawak
The third edition in 2023 focused on the country version of the terno—the balintawak—which was traditionally worn during fiestas and for travel to the countryside. The balintawak’s identifiable features are the alampay and the tapis
“It was during the third edition that the awards were named after specific individuals who have made significant contributions to the development of the terno to what it is today. The Chief Mentor prize is named after Joe Salazar, the bronze award is named after Ramon Valera, the first National Artist for Fashion; the silver medal is named after Pura Escurdia and finally the gold medal is named after Pacita Longos,”said new TernoCon artistic director Ricardo Eric Cruz, who takes over from Gino Gonzales.
THE 2025 EDITION
OUT of 82 applications, 12 finalists were chosen. They are attending a workshop-mentoring from October 17 to October 21 at the Bench Tower in BGC, Taguig City.
The workshop lectures include topics on the history of the terno balintawak and kimona design parameters; knitting and fabric manipulation; new technology, colors and patterns; traditional techniques, and understructure and embellishments.
The finalists are from Ilocos Norte—Windell Madis; Tarlac—Patrick Lazol; Batangas—Geomarie Hernandez; Makati City—Bryan Peralta; Quezon City—Nina Gatan; Mandaluyong City—Coco Gonzales; Taguig City—Noel Marin; Negros
This is your skin’s Remedy
THERE are not a lot of aesthetic centers and clinics specializing in acne and scarring in the Philippines. Remedy Skin Solutions is one of the few that does and during the pandemic, it helped so many people suffering from “mascne.” Remedy started in 2019, months before the pandemic, with only three treatments. Five years later, the clinic is proud to have treated 30,000 patients.
Dr. April Geraldez-Rivera, medical director, CEO and co-founder of Remedy Skin Solutions, has over 16 years of experience as a dermatologist. She started Remedy with her husband Paul Rivera, who is known for creating recruitment tech start-up Kalibrr.
Aside from her education and experience as a boardcrtified dermatologist, Geraldez-Rivera knows what she is talking about when dealing with patients suffering from acne.
“Growing up with acne, I knew firsthand how deeply a skin condition can affect a person—emotionally, psychologically and mentally. It touches every aspect of your life. That experience fueled my dream to build a different kind of clinic—the one I wish I’d had as a teenager battling acne,” said Geraldez-Rivera. This was also the reason why she became a dermatologist. But five years after Remedy opened, Geraldez-Rivera and her team of doctors now also offer skin rejuvenation, treatments for those with mature skin, and overall skin health solutions.
This is part of Remedy’s goal of building a clinic that was inclusive and welcoming to all. The Remedy journey starts with a consultation that lasts 3-4 times longer than the industry standard. This is when the dermatologist looks at the patient’s skin and talks to them about their concerns.
This allows Remedy to come up with a personalized treatment plan and skincare regimen.
Remedy’s dedication to personalized skin solutions extends beyond the consultation room. The clinic invests heavily in research and development. “Research and development is essential because Filipino skin has unique characteristics compared to other regions. We need tailored solutions that cater specifically to our skin type, rather than just adopting protocols designed for Caucasian skin,” said Geraldez-Rivera.
Among the treatments and services offered by Remedy are Hollywood Laser Facial (highly recommended by my beauty friends), Acne Cleanse, 595 Laser, Precision Peels, Microneedling, TCA Cross, Needle Subcision, Radiofrequency Microneedling (RFM) Synergy, Scar Healer, and SkinPen. For body treatments, they have BodyBrite Laser, Body Cleanses, and BodyBrite Peel.
Remedy also has hyperpigmentation treatments such as Pigment Laser, Melasma treatments, and Fresh Eyes. The treatments for mature skin are Glass Skin Facial, HydraBoost Facial, Pure Contour, Skin Refresh, Skin Lift, Skin Vitamin, Wrinkle Relaxers, and Ulthera Pro. Visit Remedy’s clinics at One Uptown Residence, 9th Avenue cor 36th Street, Uptown Bonifacio, Taguig; or Building 4, Ayala Malls Vertis North, Quezon City. For appointments and inquiries, call 09178736339 or visit www.remedy.ph and follow their social media accounts.
SUPERWOMEN RISING:
WOMEN TELL THEIR STORIES
I RECENTLY attended a Nivea event that paid tribute to the
Occidental—Irene Subang; Capiz—Lexter Badana; Capiz—Peach Garde; Iloilo—Ram Silva; and South Cotabato—Jared Palmejar.
Two semi-finalists were also selected: From La Union—Jema Gamer; and from Davao City—Xioti Chiu. Inno Sotto is still TernoCon’s chief mentor while the Mentors for the fourth edition are Rhett Eala, Lulu Tan-Gan and Ezra Santos.
Each finalist will have to create a capsule collection comprising of 1) a terno with a pañuelo, 2) a balintawak with an alampay and a tapis, and 3) a kimona or a slipover blouse with slightly extended sleeves with an alampay and patadyong
“The finalists will have to draw inspiration from 20th century Philippine contemporary arts—the different movements, perspectives and principles. However, and I would like to reiterate, we highly discourage and will not allow the finalists to use facsimile copies and/or digitally applying any image of the artwork onto the fabric in creating their capsule collection,” Cruz said.
THE CONTINUING COLLABORATION
TERNOCON is a collaborative initiative of the
Cultural Center of the Philippines (CCP) and lifestyle brand Bench, as the legacy of the Philippine dress is revitalized and sustained as it is seamlessly integrated into everyday lives. Ternocon 2025 is implemented in partnership with the Barasoain Kalinangan Foundation Inc., Baguio Country Club, St. Louis University, and Seda Hotel BGC.
“As we approach the final competition day, the excitement is palpable. Our finalists are feeling the pressure, but we’re all eagerly anticipating the moment when the stage lights up, showcasing the beautiful ternos created by both our mentors and finalists. It promises to be another fabulous and meaningful evening, celebrating the best of Filipino design and craftsmanship,” said Kaye Tinga, president of the CCP.
Due to the ongoing rehabilitation of the CCP Main Building, the final competition night and cultural show will be held at the Philippine International Convention Center on January 26, 2025.
For more information on Ternocon 2025, visit the CCP website, Facebook, X, TikTok, and Instagram pages, as well as the Facebook pages of Ternocon, Bench, and the CCP Cultural Exchange Department. n
much-romanticized “superwomen,” those who juggle many roles in life. Dubbed “Nivea Superwoman Rising,” the event was hosted by The Beauty Edit. It featured women who have made their marks in their respective fields. Tattoo and visual artist, astrologer, reiki healer, and all-around creative Wiji Lacsamana grew up in quiet San Fernando, La Union, and was raised in a conservative household. When she grew up, she tried many jobs until she found her calling in art. These days, Lacsamana’s appointment book as a tattoo artist is filled months in advance. So she has this advice for women who are at a crossroad in their professional lives: If you don’t know what you want, know what you don’t want. Nica del Rosario is the voice behind the “Rosas” anthem
during the 2022 national elections. Her other hits include “Tala,” “Karera” and “Huwag Muna Tayong Umuwi.” She knows what makes a song an anthem. Mae Layug launched GRWM Cosmetics in 2021 in the middle of the pandemic. It wasn’t easy but Layug, a YouTuber, content creator and nurse, managed to turn GRWM into one of the best indie beauty brands in the country.
GRWM is known as a purpose-driven company with advocacies promoting inclusivity and championing animal welfare. “Even though there were uncertainties, I told myself I would work very hard to pursue this,” said Layug. During the event, guests were invited to dive into selfreflection and discovery through different activities such as a vision board-making session.
Guests also got to try the Nivea Super 10 Body Serum and learn about what it can do for your skin.
GoTyme Bank, PNP ACG team up to pursue cybercriminals
GOTYME Bank, a collaboration between the Gokongwei group of companies and the multicountry digital banking group Tyme, recently signed a Memorandum of Agreement (MOA) with the Philippine National Police Anti-Cybercrime Group (PNP ACG) in a bid to crack down on cybercriminals and bring them to justice, further strengthening defenses against online threats.
The MOA was signed on September 30, 2024 at the PNP ACG office in Camp Crame by GoTyme Bank co-CEO Albert Tinio and PNP ACG Director Police Major General Ronnie Francis M. Cariaga.
The PNP ACG is tasked to enforce pertinent laws on cybercrime and other digital crimes in pursuit of an effective cybersecurity campaign. Cariaga, who assumed the PNP ACG directorship in April this year, said, “Our intensified operation has yielded positive results, with a notable decrease in reported cybercrime cases. This success can be attributed to our strong partnerships with the private sector, internet intermediaries, and law enforcement agencies. We remain steadfast in our pursuit of cybercriminals and are committed to creating a safer digital environment for everyone.”
GoTyme Bank has established a dedicated fraud and crime prevention division under the leadership of former fraud strategy head Jason Brasileño. The division will focus on enhancing fraud detection, prevention, and prosecution efforts. To strengthen its capabilities, GoTyme is also in a partnership with the Cybercrime Investigation and Coordinating Center (CICC) to improve real-time cybercrime protection. It is also collaborating with other government agencies, including the National Bureau of Investigation and Department of Justice, to “catch the thieves.”
Cariaga has called upon the government and the private sector, saying, “Working together, we are harnessing our collective expertise and passion to tackle the challenges of the digital age. Our joint efforts will lead to effective strategies and technologies to address cyber financial threats.”
He stressed that this MOA is more than just a contract or a receipt, it is a pledge to collaborate in the mission to strengthen cybersecurity and represents a crucial step forward in our collective efforts to combat cybercrime and protect our digital economy.
“As we are bound to take a significant step forward in our commitment to a safer, more secure digital landscape, we hope that the MOA between GoTyme Bank and PNP ACG will serve as a beacon of our resolve to make a significant and meaningful difference as well as to build a future where all voices are valued and opportunities are within our reach, especially in the digital era,” Cariaga said.
For its part, GoTyme Bank is actively collaborating with government agencies, banking industry associations, and law enforcement to enhance anti-fraud legislation and investigative capabilities. Internally, the bank is strengthening customer protection through an improved Know Your Customer (KYC) process and leveraging advanced AI technology to identify suspicious activities. The bank
remains committed to human interaction, ensuring customers can always speak to a live agent.
Tinio said, “Security and safety are paramount in our mission to deliver simple, convenient banking to Filipinos. To this end, we continuously invest in cutting-edge cybersecurity and fraud prevention measures. Alongside our technological advancements, we prioritize public education on scam prevention and reporting. By collaborating closely with the PNP ACG and other government agencies, we believe that a united front is essential to effectively combat cyber threats.”
If you suspect a scam, GoTyme Bank encourages immediate action by reporting the incident to the sending bank and to the GoTyme Bank hotline #GO8888. It also reminds its customers to file a police report as soon as possible. It maintains a two-pronged approach to security: advanced technology, with substantial investments in cutting-edge security measures; and continuing user education that empowers customers with knowledge to identify and report scams.
Tinio added, “We believe that empowering our users with knowledge and a straightforward reporting process is crucial in creating an environment where scammers find it increasingly difficult to operate. A well-informed and alert customer base acts as a strong deterrent to scammers targeting GoTyme.”
Standard Chartered Bank hosts Treasury Leadership Forum
STANDARD Chartered Bank’s Annual Treasury Leadership Forum gathers industry leaders and treasury professionals to explore the future of treasury, digitalisation, innovation, and the evolution of
STANDARD Chartered Bank (SCB) Philippines hosted its annual Treasury Leadership Forum last September 20, 2024 at the Makati Shangri-La Hotel. Themed “Uncovering the power of technology – the blueprint of tomorrow’s treasury,” the event gathered industry leaders and treasury professionals to discuss digital trends in the Philippines and exchange best practices on how organizations are embracing innovative and sustainable business processes. Highlight of the event were the discussions on emerging trends in real-time payments in the Philippines, Generative Artificial Intelligence as game changer in the world of finance and treasury, and emerging technologies being implemented as part of the bank’s core business offering. Speakers and panellists in the forum include Gigi Tan, Head of Business and Relationship Management, BancNet; Patrick Bruinsma, Software Technical Leader, IBM ASEAN and Red Jaques Bernaldez, Head of Technology and Customer Success and Data Privacy Officer at STTelemedia Global Data Centers, Philippines. During the forum, IBM showcased several applications of watsonx, their AI and data platform built for businesses, across various business functions. The demonstrations included the use of watsonx for legal document review, meeting transcript summarization and retrieval-augmented generation (RAG) using publicly available
LOWER POWER RATES IN OCTOBER. The Manila Electric Company (Meralco) announced a decrease of P0.3587 per kWh in the electricity
P72 in
bill this month. Meralco Vice President and Head of Corporate Communications Joe R. Zaldarriaga also reminded the public to be vigilant and only transact with the distribution utility’s authorized personnel to avoid falling for fraudulent activities. For more information, customers may visit Meralco’s website at (www.meralco. com.ph) or its social media accounts on Facebook (www. facebook.com/meralco) and X (@meralco).
PCCI gathers next gen leaders at bizcon
THE Philippine Chamber of Commerce and Industry (PCCI) will put the spotlight on some of the country’s young and dynamic future leaders at the mosthighly anticipated 50th Philippine Business Conference and Expo (PBC&E) to be held on October 23 to 23, 2024 at the Marriott Grand Ballroom.
Bannering the theme “Embracing Innovation. Empowering Business. Enriching Lives,” this year’s PBC&E will gather the next generation of business leaders in an interesting plenary session on “Looking Forward through the Lens of Future-Ready Business Leaders.”
“We have carefully crafted interesting sessions and invited renowned speakers to provide insights and inspiration on how to sustainably thrive in business. Our plenary topics are a mixture of past, present and future as we celebrate 50 years of the PBC&E,” said Jude Aguilar, conference chairman. Leading this session are young and dynamic executives namely, Carlos Ramon C. Aboitiz, Chief Corporate Services Officer, AboitizPower; Mariana Beatriz Zobel de Ayala, Senior Vice President, Ayala Land Inc.; Jose Avelino G. Diaz, President and CEO, Sagittarian Agricultural Philippines, Inc.; and Juan Carlos C. Puno, Chief Finance Officer, Globe Telecom. The session will be moderated by Michael G. Tan, President of Asia Brewery. Aguilar said that delegates can look forward to an interesting and engaging discussion on how this generation of young business executives are navigating the complexities of business. “It would certainly be interesting to know how they are coping with various challenges of rapid technological advancements, globalization, shifting of consumer behaviors and geopolitical tensions while at the same time capturing opportunities and creating value out of these” Aguilar said.
The PBC&E is an annual event of PCCI that serves as a testament to its commitment to nation building and prosperity. A platform for sharing of ideas, forging partnerships and creating strategies in pursuit of empowering business and enriching the lives of PCCI stakeholders, community and the country. It is where industry captains, entrepreneurs, innovators, and visionaries meet to create a lasting impact for business and the country.
Maynilad donates 85 drinking fountains to LGUs, schools
WEST Zone concessionaire Maynilad Water Services, Inc. (Maynilad) continues its commitment to promote public health and sanitation with the donation of 85 refrigerated drinking fountain units to various local government units (LGUs) and schools across its concession area this year.
data. In addition, IBM highlighted the Planning Analytics dashboard generated using natural language processing through a chatbot. SCB also provided an interactive platform for its digital solutions such as Open Banking Market Place, API Capabilities specific on instant payments, Cyber Security approach for APIs, Straight2Bank Advance Analytics Insights and Digital Servicing overview.
In his welcome address, Standard Chartered Bank Philippines Chief Executive Officer Mike Samson highlighted that the pace of technological change is increasing at an exponential rate, opening new opportunities, and presenting new challenges. He said, “While transformative technologies deliver better and faster ways of working and position our organizations towards an adaptive future, key risks and challenges also emerge with cybersecurity threats, regulatory oversight, rapid obsolescence, data privacy and sovereignty, and even ethics. Standard Chartered Bank stands ready to lend its market presence, technical expertise, and network as banking partner to help our clients navigate these rapidly shifting and evolving landscapes.”
Standard Chartered Bank Head of Transaction Banking KC Huang Hernandez added, “’We are delighted to host the 2024 Treasury Leadership Forum in the Philippines as a unique platform to discuss the crucial role of technology and its potential to revolutionize business processes to promote efficiencies and enhance customer experience.”
This initiative aims to enhance access to clean drinking water in public spaces, reinforcing Maynilad’s efforts to support community wellbeing and hygiene, particularly in schools and communities that need it most.
Maynilad installed an initial 33 drinking fountains in public schools across Quezon City, with an additional 44 units scheduled for installation in the succeeding months. The donation also includes several drinking fountains for the Caloocan, Valenzuela, and Las Piñas LGUs.
“Providing ready access to clean drinking water is a vital step toward improving public health. It will also help to reduce single-use plastics, as people can just refill reusable containers with water from these drinking fountains,” said Maynilad head of Corporate Affairs and Communication
Marie Antonette H. De Ocampo. This donation reflects Maynilad’s broader commitment to enhancing community well-being and addressing environmental concerns through sustainable practices. Similar initiatives include Maynilad’s installation of rainwater harvesting facilities, donation of garbage boats and fire trailers, as well as the distribution of bidets through the “Oplan Balik Eskwela” program.
Maynilad is the largest private water concessionaire in the Philippines in terms of customer base. It is the concessionaire of the MWSS for the West Zone of the Greater Manila Area, which is composed of the cities of Manila (all but portions of San Andres and Sta. Ana), Quezon City (west of San Juan River, West Avenue, EDSA, Congressional, Mindanao Avenue, the northern part starting from the Districts of the Holy Spirit and Batasan Hills), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas and Malabon all in Metro Manila; the cities of Cavite, Bacoor and Imus, and the towns of Kawit, Noveleta and Rosario, all in Cavite Province.
GOTYME Bank co-CEO Albert Tinio (2nd from left) and PNP ACG Director Police Major General Ronnie Francis M. Cariaga (3rd from left) sign the Memorandum of Agreement between GoTyme Bank and PNP Anti-Cybercrime Group
50TH Philippine Business Conference and Expo Conference Chairman Jude Aguilar.
Channeling the power of imaginative play
Over the past few weeks, I discovered something peculiar about my daughter: she loves homework. I kid you not. She looks forward to doing homework, and even asks for extra learning tasks sometimes. When I asked her why, she said: “I love learning. I like reading and writing and coloring. I think they’re fun.”
Her answer left me pleasantly surprised but, I have to admit, still baffled. Why would a kindergartener ask for more work when she can just use her time to play some more? She honestly thought doing homework was fun. She did not see it as a chore that she would prefer to avoid. And then it hit me: she said she had fun doing her homework. I looked back on our daily homework routine and realized that we turned almost all of her assignments into games. We did
Maya,
Boomerang Awards 2024, orga
nized by the Digital Marketing Association of the Philippines (DMAP),
the best in digital marketing, recognizing a wide range of exceptional brands and agencies. Maya retained its title as Advertiser
of the ye ar, while Dentsu was named Agency of the ye ar. Mullen l o we T r eyn A t ook home top honors for its work on the Quezon c ity Gender and Development c o uncil’s “ r i ght to c a re” campaign, which earned both the White Boomerang—an award recognizing pivotal innovation—and Best of Show.
Held on October 16, 2024, at the c ol|l a b Space, Sheraton Manila, this year’s awards featured 393 entries across 17 main and 7 special categories, highlighting the continued innovation, creativity, and effectiveness driving the Philippine digital marketing industry. While the White Boomerang category has
scavenger hunts, word games, and draw-what-the-sentencesays games. She is allowed to color pictures in whatever colors she wants—a blue cockroach was her latest gem.
Gamifying her homework experience made it enjoyable for her. I also noticed that she learned faster, and much of what she learned stuck, even after just two or three exposures. Through the simple exercises on her worksheets and the games we played while accomplishing them, she has learned how to follow instructions, spot her own mistakes and correct them, and analyze simple problems and come up with solutions.
The power of play I recen T ly h ad the opportunity to listen to human resource consultant and Brick Management c o nsulting founder Myke Santos talk about the impor -
been around for many years, it was finally won this year, with the r i ght to c a re campaign being recognized for its groundbreaking approach and lasting impact.
c h aired by Kit r a mos Disini and Jace Suzara, the theme of this year’s awards was “Be Greater,” challenging nominees to push the boundaries of innovation, creativity, and effectiveness.
Kit shared, “This year’s theme, ‘Be Greater,’ was an ambitious vision that the Booms team embraced wholeheartedly. e v ery aspect, from the meticulous jury deliberation process in selecting winners to curating
tance and power of play. Speaking at the national Public r e lations c o ngress and then again at the Digicon r e volution three weeks later, he related how play can help individuals and organizations get unstuck, figure out solutions to problems, and learn new skills.
“Play is the highest form of research,” he said, noting that play “keeps us curious, creative, and capable.” c uriosity fosters openness without judgment or limitations; creativity enables imagining possibilities and opportunities; and capability, which stems from learning new skills, can be built individually and together.
c iting research done in 2007 by e l len Beate Hansen Sandseter from no rway’s Queen Maud University c o llege of e a rly c h ildhood e ducation, Santos mentioned six types of play that entailed risk and fun, and which could be related to some very important organizational and business skills.
Jumping off great heights
Going at high speeds
Playing with tools
Playing with elements
Hide and seek/Wandering r ou gh-and-tumble play
The first two are related to estimating risk and safety, which is exactly what we do when we
every detail of the event, had to be greater than ever before while ensuring cohesive synergy across our key themes of innovation, creativity, and impact.”
The 2024 Jury was headed by va lerie Madon, c h ief c r eative Officer of Mc c a nn Worldgroup Asia Pacific. va lerie expressed her admiration for the local entries, saying, “I’ve been a jury for many international shows, and I hate to say this—I’ve not seen enough Philippine entries in those shows. c o ming here, I got to see a lot more. It makes me wonder why these pieces of work are not going out there in the international shows because the caliber is really good!”
determine our organizations’ strengths, capabilities, and constraints. The next two have to do with creating agency in the world, as you learn new tools and techniques through trial and error. Hide and seek entails exploring and navigating, which helps us become more open to and seek out other points of view and approaches. r o ughand-tumble play entails negotiation, communication, and empathy, which then make us more aware and mindful of those we impact and how.
Santos emphasized how powerful play is, especially in this era of constant and rapid change. “When change is unending, maintain a mindset of play.”
Engaging in “serious play”
S A n T OS ’ co nsultancy firm uses the l e go Serious Play method in its workshops. According to the official l e go website, “ l e go Serious Play began as an experiential process designed for use in guided workshops with adults to prompt dialogue and encourage reflection, as well as develop problem-solving skills and use of imagination.”
Different l e go Serious Play sets are available for different purposes, including one—the Starter Kit—that can also be used to develop critical thinking skills in children at least six years of age.
The evening also included performances by Sandwich, c h icosci, Itchyworms, August Wahh, and the legendary e l y Buendia, adding energy and excitement to the celebration of creativity and achievement.
“This innovative approach to interaction is a valuable asset in business as well as education, and helps participants open up through the approachable medium of play,” l e go said. c o aches and facilitators can get l e go Serious Play certifications so they can build programs around the method.
Emulating kids
My daughter is now very much into l e go: building sets by following the building instructions, and then taking them apart to use the different bricks to build worlds from her own imagination. Her ability to follow instructions, both visual and written, has significantly improved. She has also learned to control her frustrations when certain bricks do not seem to fit, making adjustments so they do.
She usually builds things on her own, but sometimes asks me to join her. I have since become more invested in her builds, trying my best to make the pieces fit, using what limited quantity, sizes, and types of bricks we have. We have built gardens, castles, and houses with multiple rooms—all owned by her hodge-lodge of Duplo figures, l e go Minifigures, and toys of all shapes and sizes. And the stories we have spun from those builds, complete with dialogues and different character voices, range from the realistic to the stupendous.
Santos was right: play can really help you get unstuck. After playing with my daughter, I usually find myself reaching out for my notebook and pen to jot down new ideas. And I feel more refreshed, too, no matter how tired I was at the beginning of our play session. I guess I should play more, and so should you.
PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world. Abigail L. Ho-Torres is the Chief Marketing Officer of Ikigai Philippines and an independent consultant and trainer, with more than two decades of experience in media, public relations, marketing, and customer experience.
We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com.
This year’s Boomerang Awards recognized exceptional talent and groundbreaking work across various categories, celebrating the most innovative campaigns in digital marketing: n Advertiser of the ye ar: Maya Philippines, Inc. n Agency of the ye ar: Dentsu c re ative Manila, Inc. n Tech Innovator of the ye ar: l e o Burnett Group Manila n Tech Innovation of the ye ar: FWD: The Gamer Insurance n Tech Production Partner of the ye ar: Paradigm Productions & Design Production Partner of the ye ar: Prodigious Phils n Best of Show: “ r i ght to c a re”—Quezon c ity Gender and Development c ou ncil For a full list of winners and further details about the Boomerang Awards 2024, visit www. booms.dmap.com.ph or follow DMAP on social media @DMAP on Facebook and l i nkedIn and @ Dmap_PH on Instagram and X. adobo Magazine is an official media partner of The Boomerang Awards 2024.
LeBron James stats: They keep growing
1st JARC Group golfest raises funds for charity
the Feast of St. Francis of Assisi on October 4 at The Orchard Golf and Country Club. The event raised funds for the Catral Foundation’s educational programs, disaster relief, resource mobilization and medical missions.
Fr. Manny Catral highlighted the legacy of St. Francis in his presentation of the foundation’s mission and vision, emphasizing compassion, service and support for communities in need.
Jose Alberto “Seling” Catral, president and chairman of JARC Group, led the successful event along with tournament organizing committee co-chair and Head of Learning and Development Josel Gaston, and
Tigresses open second round bid in style
UNIVERSITY of Santo Tomas (UST) beat Ateneo de Manila University, 25-11, 25-20, 25-17, for a start start in the second round of the Shakey’s Super League Collegiate Pre-season Championship Sunday at the Rizal Memorial Coliseum.
Heady setter Cassie Carballo ignited the Tigresses’ hitters with accurate ball distribution to shoot down the Blue Eagles in the 85-minute Pool F encounter. UST’s team chemistry spelled the difference in the match where 12
Director of Human Resources JD Martinez. Tournament adviser Noli Liganor and technical adviser Larry Yan helped supervise the event with Don Muñoz, president of the Parañaque Entrepreneurs and Business Club, playing a key role in engaging the community and securing sponsor support.
The tournament drew support from the medical diagnostics industry and partners from various sectors which align with JARC Group’s commitment to community service.
For more information on JARC Group’s community involvement and the Catral Foundation’s projects, please visit www.jarcgroup.ph
JARC Group is a leader in the distribution of medical diagnostic equipment and has as the company’s social responsibility arm the Catral Foundation.
Tigresses scored at least one point.
“Our relationship outside the court that we bring during matches was the key, we always play as a team,” said Carballo, who had 13 excellent sets and three points. Angge Poyos was on fire with 17 points, all on attacks, for UST which remained unbeaten after five outings.
Jonna Perdido added nine points, Regina Jurado chipped in eight and Marga Altea was an imposing presence at the net where she scored three of her seven points from kill blocks for the Tigresses.
The Yankees, Gramps and me
SOMEONE asked me, “Why are you a fan of the New York
By Tim Reynolds The Associated Press
RLEYMON JARAULA’S goes for backto-back titles on the Philippine Golf Tour (PGT) as the season culminates with the International Container Terminal Services Inc. (ICTSI) Negros Occidental Classic on Tuesday at the Negros Occidental Golf and Country Club.
Jauarula is coming off a one-stroke victory last week at the ICTSI Bacolod Golf Challenge and is eager to repeat at the P2.5 million championship on the course formerly known as Marapara that offers a vastly different challenge compared to the narrower Binitin course.
T he course design provides ample opportunities for scoring with each hole presenting unique challenges and its winding fairways and strategicallypositioned hazards lying in wait to punish errant shots.
The course is further complicated by its tempting yet perilous dog-leg holes, which can either offer a path to birdie or lead to disaster, depending on the golfer’s precision and decision-making.
It’s a course where risks are rewarded, but missteps can quickly derail even the most solid title bid.
Jaraula’s drive to go back-to-back stems from a deep-seated desire to overcome hurdles and despite experiencing a grueling run at Bacolod, where he had to fend off the relentless pursuit of multititled Angelo Que, he delivered when it mattered most.
His stunning chip shot on the final hole, setting up a clutch four-foot putt for par, encapsulated his ability to perform under immense pressure.
and company, the champions then were the Cincinnati Reds. The Big Red Machine—Pete Rose, Johnny Bench, Tony Perez, Joe Morgan, Ken Griffey Sr., Dave Concepcion and more. Then a few years later, the Yankees were champions with Ron Guidry, Catfish Hunter, Thurman Munson, Chris Chambliss, Bucky Dent, Reggie Jackson, Lou Piniella Willie Randolph and more. My grandfather inculcated in me a love of baseball. During late afternoons, we would go by the railroad tracks and play catch.
He talked about one day watching at Yankee Stadium and taking me with him. He would watch me play stickball with the neighborhood kids in the nearby sugar cane fields that had been harvested. We’d go home only when the sun went down. A s I got older, the love for the game grew. By sixth grade at the Ateneo, many of my classmates and I not only loved baseball, but we would play at the park near the home of one of my best pals—Hec Garde’s place in Project 6. We sure won a lot of games then.
By high school, we were organizing stickball games at the high school covered courts. Come college, I was with the baseball team, but didn’t last because of bad grades.
t was a shot that not only demonstrated his skill but also reinforced his ental toughness.
Jaraula is no stranger to adversity—before his breakthrough at the Pueblo de Oro in 2019, he endured six long years of close calls and frustration.
REYMON JARAULA (center) with (from left) International Container Terminal Services Inc.’s Ronnel Javier, Negros Electric and Power Corp.’s April Causing, Bacolod Golf and Country Club’s Manny Montelibano and Negros Power’s Gladys Abasquez.
LeBron has never been average
THIS is one of the more fascinating stats of LeBron James’s career.
To this point—and this has been the case for the majority of his time in the NBA—James averages 27 points, seven rebounds and seven assists per game.
But he’s never had an average night.
None of James’s 1,492 regularseason games (or any of his 287 playoff games) has ended with him having exactly 27 points, seven rebounds and seven assists. He’s been close, many times—77 games ended with him scoring exactly 27 points, 11 games had him with 27 points and seven rebounds, six games had him with 27 points and seven assists, and 11 games saw him one rebound and one assist away from finishing at 27-7-7.
For the record, 27-7-7 nights are rare. There’s been only 51 in NBA history, not counting four others in the playoffs.
Jerry West had two in the regular season and one more in postseason play.
Abdul-Jabbar sometime around the Lakers’ Christmas Day game against Golden State. LeBron also climbing other lists A BREAKDOWN of where LeBron James sits on other lists and what he needs to do to keep climbing: n Field goals: James is currently No. 2, exactly 1,000 behind Abdul-Jabbar (15,837 to 14,837) in regular-season play. Adding in playoffs, James is No. 2 has 17,765—428 away from AbdulJabbar’s mark.
n Free throws: James is No. 3 with 8,390 in regular-season play, 141 away from matching No. 2 Moses Malone (8,531). The record is likely out of reach unless James plays many more seasons; Karl Malone is No. 1 on the list with 9,787.
Those Life magazines were eventually bequeathed to me (but lost all of it to Ondoy) when my Lolo passed away. I cut out some pictures then tape them on cardboard to post on the walls of my room. So next to posters of the Toyota Tamaraws, Julius Erving, bands such as Kiss, Led Zeppelin, the Ramones, and the Clash, Farrah Fawcett-Majors, Phoebe Cates were Mickey Mantle, Joe DiMaggio, Reggie Jackson and Thurman Munson.
Many years later and living in the Big Apple, I made my first trip to Yankee Stadium (out of a hundred and so). It was an emotional D Train ride to the Bronx. Obviously, it was the Yankees, and second, it was for my Lolo. I remember raising a beer to my grandfather as soon as I sat down. “Me and your gramps…we’re doing this.”
Luckily, the Yankees beat the Seattle Mariners that game or else it would have spoiled the moment.
This was the team of Andy Petite, Derek Jeter, Jorge Posadas, Mo Rivera, Paul O’Neill (who is my all-time fave Yankee), Bernie Williams and company. And yes, they won the World Series then. I mostly sat at the
I have a small collection of Yankees
Grant Hill, Russell Westbrook and Jo Jo White all had 27-7-7 games twice. Kevin Durant has one in the regular season and one more in the playoffs. Nobody else has ever had more than
JARC Group of Companies chairman and president Jose Alberto “Seling” Catral makes his address and later joins a class picture ahead of the tournament.
