BusinessMirror October 30, 2019

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Wednesday, October 30, 2019 Vol. 15 No. 20

Meat processors, hog raisers fight over ASF T

By Jasper Emmanuel Y. Arcalas

@jearcalas

HE strife between hog raisers and meat processors has escalated after the manufacturers of processed meat products said they will boycott local pork until raisers can give their assurance that it is free from African swine fever (ASF).

The Philippine Association of Meat Processors Inc. (Pampi) said it has asked its members to temporarily stop the use of local pork as raw materials to contain the spread of the highly contagious ASF.

Howe ve r, u mbre l l a g roup Samahang Industriya ng Agrikultura (Sinag) refuted Pampi’s statements, saying backyard hog raisers would sur vive despite the boycott, as 80 percent of the

country’s meat processors are not Pampi members.

Laban Konsyumer Inc. (LKI) warned that the word war between the two groups, which has been brewing since the outbreak of ASF

“[The situation] is worsening. Retail pork prices remain high even when demand is low.

And consumers don’t buy public statements that contaminated pork with the virus is safe to eat.”—Dimagiba

was confirmed in the Philippines, would ultimately hurt consumers.

Rationale

PAMPI Spokesman Rex Agarrado said his group decided to boycott local pork after the results of laboratory tests on processed meat products were leaked by hog raisers to the media.

See “Hog raisers,” A2

P25.00 nationwide | 5 sections 44 pages |

TRADE ROW’S IMPACT: SHIP OWNERS MAY HIRE FEWER PHL SEAFARERS

By Elijah Felice E. Rosales @alyasjah

I

NTERNATIONAL ship owners could end up recruiting fewer Filipino seafarers over the next years, as they absorb the impact from the global slowdown in demand for merchandise products, an industry leader said on Tuesday.

Norwegian Shipowners’ Association (NSA) CEO Harald Solberg said global shippers are taking damage from the trade conflict between the world’s largest economies. The shipping industry, he explained, is “heavily related to the growth in the world economy;” therefore, any slowdown in global trade is a slowdown in the sector’s business.

“Not yet,” Solberg said when asked whether the industry has been injured by the trade tensions between the United States and China. However, he added, “but the shipping industry is heavily related

MWSS revamp, Congress grant of emergency powers to solve water crisis eyed

By Bernadette D. Nicolas @BNicolasBM

& Butch Fernandez

A

@butchfBM

MID the looming water crisis, Malacañang said on Tuesday that President Duterte may also revamp the Metropolitan Waterworks and Sewerage System (MWSS) aside from the possible government takeover of the two private water concessionaires—Maynilad and Manila Water.

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo described the possible government takeover of the water concessionaires as legal, but stressed that there should first be a declaration of a national emergency.

The grant of emergency powers to the President for the purpose of addressing the water crisis, according to Sen. Panfilo Lacson, is feasible.

“The legal basis is always when, you know, the provision of the Constitution is very clear. The President’s primary duty as head of state of the government is to serve and to protect the people. [In] any situation arising that will endanger, imperil the safety of the people, the President has to take over,” Panelo said.

Article XII Section 17 of the 1987 Constitution states that: “In times of national emergency, when

PESO EXCHANGE RATES n

the public interest so requires, the State may, during the emergency and under reasonable terms prescribed by it, temporarily take over or direct the operation of any privately owned public utility or business affected with public interest.

At the Senate, meanwhile, Lacson said on Tuesday he sees no problem in Congress, dominated

by Palace allies, granting Duterte extraordinary powers to quickly address an “already existing water supply crisis.”

Lacson, however, stressed that Malacañang must first “declare an emergency” for Congress to empower Duterte to “take over public utilities” providing water supply.

The senator cited specific provisions of the Constitution the President may invoke to quickly and effectively address the supply shortage.

“Given a looming, if not already, existing water crisis,” Lacson said Section 17, Article VII of the Constitution and existing jurisprudence (David vs Arroyo, GR 171396 on May 3, 2006) may apply.

He said the President has to “declare an emergency, and if Congress delegates that power to him, the government must be ready to compensate whatever losses the private concessionaire/s would incur during the period of the government takeover.”

See “MWSS,” A2

to the growth in the world economy.”

In a news briefing, Solberg added, “We see a slowdown in the growth. We are concerned about the outlook and the implication of the trade war, [and] we are prepared that the slowdown of the world economy also will lead to a slowdown in the demand of shipping services.”

Solberg warned this could compel international ship owners, such as NSA, to employ fewer seafarers, which would be damaging to a country like the Philippines that deployed nearly 450,000 sea-based workers in 2017.

“If this is the starting point of a development into a more de-globalized world, if this trade war is the start of a reverse process, there is a possibility it could harm shipping and recruitment in the long time. In the short time, it will not influence short-time recruitment,” Solberg said.

See “Seafarers,” A2

Infra spend at 5% of GDP vital to close gaps–ADB

By Cai U. Ordinario @caiordinario

D

anitary permits, then this will limit imports,]” Villar said.

The Department of Agriculture (DA) said it will start implementing more stringent SPS measures next week. These measures involve limits on heavy metals content and pesticide residue levels in rice to ensure that staple sold in the market, both imported and locally produced, are safe for consumption.

EVELOPING Asian countries should invest more than 5 percent of GDP on infrastructure if they intend to close their infrastructure gaps, according to the Asian Development Bank (ADB).

In a statement, ADB said countries continued underinvesting in infrastructure despite the Manilabased multilateral’s recommendation to spend 5 percent of GDP on infrastructure annually.

“Many, if not most of the countries in the Asia and Pacific region, are currently investing less than the proposed 5 percent of GDP for infrastructure development. At this rate, financing infrastructure to maintain and sustain economic growth and development will be a tough challenge,” ADB said.

Based on the Philippine Development Plan (PDP) 2017 to 2022, public spending on infrastructure was below 5 percent of GDP between 2011 and 2015. It was only in 2016 when public spending on infrastructure breached 5 percent.

Actual public spending on infrastructure reached 1.81 percent of GDP in 2011; 2.06 percent in 2012;

See “Rice-import,” A2

See “Infra spend,” A2

IN TIME FOR ‘UNDAS’ Public Works Secretary Mark A. Villar is leading the opening today (Wednesday) of the first segments of the CaviteLaguna Expressway (Calax), to provide more road space for the thousands of vehicles added to the expressways during the observance of Undas, or All Souls’ Day and All Saints’ Day. The first segments to be opened—with daily access time set from 6 a.m. to 6 p.m., Sundays to Thursdays, and 6 a.m. to 10 p.m., Friday to Saturday—will cover Mamplasan Barrier onto the Santa Rosa-Tagaytay Interchange. This section will take about 10 minutes to drive, down from the 45 minutes it currently takes to travel Mamplasan to Santa Rosa-Tagaytay road. The P35-billion, 45-kilometer Calax will connect Cavitex in Kawit to South Luzon Expressway (Slex) at their Mamplasan Interchange in Biñan, Laguna. PHOTO COURTESY OF DPWH

Villar, Dar favor stricter rice-import clearance rules

A

FTER pushing for the liberalization of the rice industry, Sen. Cynthia A. Villar said the government should limit the country’s imports to just 1 million metric tons (MMT), the average shortfall in local production.

Villar, who chairs the Senate Committee on Agriculture and Food, said the government could limit imports by implementing more stringent guidelines on the issuance of sanitary and

phytosanitary import clearance (SPSIC) to traders. “[The Philippines] produces only 93 percent so the country imports 7 percent, which is about 1 MMT,” Villar told reporters in an interview on Tuesday.

“Pahirapin ang phytosanitar y permit.... Kapag pinahirap nila ‘yun, then mali-limit ang importation, [If government would implement stringent rules in issuing phytos-

US 51.1430 n JAPAN 0.4694 n UK 65.8057 n HK 6.5237 n CHINA 7.2367 n SINGAPORE 37.5527 n AUSTRALIA 34.9716 n EU 56.7790 n SAUDI ARABIA 13.6370

Source: BSP (29 October 2019 )

News

BusinessMirror

A2 Wednesday, October 30, 2019

OP firm: Bigger IRA due in ’22

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By Bernadette D. Nicolas

@BNicolasBM

VEN after the last-ditch efforts of local government units (LGUs) to persuade President Duterte and his economic team to implement the 2019 Supreme Court Mandanas ruling three years earlier than the timeline set by the national government, the estimated P300-billion increase in the national tax allotment or NTA (formerly known as internal revenue allotment or IRA) would still be given in 2022.

Budget Secretary Wendel E. Avisado said in an interview that this was the result of the meeting on Monday between the national government and the heads of League of Cities of the Philippines (LCP) and League of Provinces of the Philippines (LPP).

“Nagkasundo na po na i-implement ‘yun sa [There was an agreement to implement it in] 2022 by way of automatic appropriations,” Avisado told the BusinessMirror in an interview.

Asked if this could mean that the options presented by the LCP and LPP as a win-win solution for both parties were shelved, Avisado said: “Yes.”

Hog raisers. . .

Continued from A1

The test results, which indicated that some tocino, longganisa and hot dogs tested positive for ASF, involved Mekeni Foods Corp.’s (Mekeni) and unbranded home-made processed meat items.

However, the Department of Agriculture (DA) said it did not want to name the meat processing firm due to the possibility of cross contamination among samples that were tested for ASF. It was learned earlier that some team members that took samples of Mekeni had put the products in the same styrofoam box as items from an unbranded processor, thus marring the integrity of the testing process.

Mekeni, which is not a Pampi member, has disowned the test results and said that the company is compliant with pertinent guidelines on meat processing. Nonetheless, the Central Luzon-based firm has submitted samples of its pork-based products to the Bureau of Animal Industry (BAI) to settle the issue once and for all.

Rice-import. . .

Continued from A1

Agriculture Secretary William D. Dar said these food safety measures are just a reiteration of existing rules to ensure that rice sold in the market is safe for human consumption.

Stricter version of rules—Dar “[THE DA] is issuing a new and stricter set of guidelines, but we have to mention that we have these [rules] all along and we just need to iterate this,” Dar told reporters in a news briefing on Wednesday. “[The stricter guidelines would be issued] next week. Because the draft

A l so at t he meet i ng w it h Duterte and Avisado were Executive Secretary Salvador C. Medialdea and Finance Secretary Carlos G. Dominguez III. This was confirmed by Avisado to the BusinessMirror.

As of press time, LPP President and Marinduque Gov. Presbitero Velasco Jr., who was also a former chief justice of the Supreme Court, has yet to respond on whether or not this was the outcome of the meeting.

But prior to the BusinessMirror’s interview with Avisado, Velasco confirmed that there was indeed a meeting, but he sidestepped the query on what transpired during the meeting at the “Because of the BAI test results leaked by some hog raisers themselves, and the continued warning of the DA to local swine groups not to feed swill to their pigs, we believe that it is safer for the meat processing industry not to buy local pork until they are able to assure government authorities and the consuming public that local pork is ASF-free,” said Agarrado.

“In fact, several meat processors have stopped buying local pork as a result of the latest findings,” he added.

Pampi also urged the government to conduct random tests on hog farms to ensure that these are free from ASF. Pampi is the country’s largest group of meat processors, consisting of 88 membercompanies, generating more than P300 billion in sales annually and employing 150,000 direct employees and another 200,000 employees in allied sectors.

Office of the President (OP).

“Yes. We met but I may not be at liberty to divulge what transpired.

Better check with OP,” he said.

The LPP and the LCP confirmed earlier to the BusinessMirror that there was a “difference in opinion” between the LGUs and the President’s economic team on the specific year of implementation of the High Court decision mandating a wider share for LGUs from national taxes.

In a previous interview with BusinessMirror this month, Velasco said the local government units were firm in their position that the date of the execution of the ruling should be June 11, 2019, a day after it lapsed into finality.

Thus, the 2019 NTA for LGUs for the remaining two quarters should be based on the national taxes collected in the same period in 2016. This, he said, is different from the government’s position that the year the decision came out should be the base year, so the LGUs would start receiving a higher share in 2022.

As a win-win solution to reconcile the difference in the positions of both parties, Velasco said they proposed several options to the national government to help them implement the decision and, at the same time, avoid increasing the country’s fiscal deficit.

These proposed options include the President issuing an executive

order allowing a deferred payment scheme through the Department of Budget and Management’s issuance of a Notice of Payment Schedule (NPS) to all LGUs for the NTA adjustment due this 2019, or the government implementing a monetization scheme for the 2019 NTA adjustments beginning 2020 or thereafter, where LGUs can collect their lump sum, or they can opt to wait for their NPS to mature.

The Supreme Court maintained its decision declaring that the IRA share of all LGUs must be based on the collections of all national taxes, and not only from the national internal revenue taxes collected by the government.

In voting 10-3, the SC partially granted the petition of former Batangas 2nd District Rep. and now Provincial Gov. Hermilando Mandanas, who questioned the manner of allocating IRA funds for the LGUs. Section 284 of Republic Act 7160, or the Local Government Code, which created LGUs, said provincial, city and municipal governments should receive 40 percent of total national internal revenue taxes collected by the national government.

According to the same section, LGUs shall have a share in the national internal revenue taxes based on the collection of the third fiscal year preceding the current fiscal year.

for the misery that we are facing?”

The group said in a statement that the “original sin” of the ASF pandemic is pork imports, the raw material used by meat processors.

Sinag noted that the shipments intercepted in Cebu last June, which were contracted from Germany but contained Polish pork, were imported by a Pampi member.

The group also dismissed Pampi’s threat of a boycott on local pork, saying it is “nothing but an empty threat.” Sinag said Pampi never bought pork from local hog raisers.

Sinag said local hog farms have been conducting ASF tests voluntarily and some have been issued ASF-free certifications.

prices remain high even when demand is low.

And consumers don’t buy public statements that contaminated pork with the virus is safe to eat,” LKI President Victorio Mario Dimagiba told the BusinessMirror.

Impact on consumers

SINAG criticized Pampi for blaming the ASF outbreaks on hog raisers. “The hog industry has lost P10 billion in the last two months.

But are we whining now and blaming others

INSTEAD of engaging in a word war, LKI urged Sinag and Pampi to instead “help” the government and the consumers“with solutions on [food] safety, supply and prices.”

The war between the two groups wouldn’t do any good for the consumers as retail prices of pork products remain elevated, LKI added. “[The situation] is worsening. Retail pork

is there and it is being vetted already.

Those guidelines are [a reiteration] of existing guidelines [that] we need to strictly implement,” he added.

Dar said the tougher food safety rules could limit the entry of imported rice as traders would have to comply with the guidelines before they could secure SPS-ICs. The agriculture chief also said imports should not arrive during harvest so as not to further depress the farmgate price of palay.

“Naintindihan ng importers na may puso na huwag munang mag-angkat sa panahong ang ating magsasaka [ay] nasa harvest season,”Dar said. [Compassionate importers would understand and would avoid importing rice during

harvest.] The BusinessMirror obtained a copy of a draft DA memorandum circular (MC) which will impose more stringent requirements for trading rice.

The rules will cover heavy metal content, pesticide residue level, extraneous and filth contaminants, as well as microbiological parameters.

The draft MC will put in place “food safety control measures for milled rice that can be used to prevent or eliminate food safety hazard or to reduce it to an acceptable level,” according to a DA presentation.

The MC also wants to protect the public from“unsanitary, unwholesome, misbranded or adulterated food” and “enhance industry and consumer confidence in the food safety regulatory

‘Real victims’

MWSS. . .

Continued from A1

Consider other options

IN a separate interview, Sen. Sherwin Gatchalian confirmed, for instance, that his constituents in Valenzuela had been suffering four to six hours of no water supply almost daily, prompting him to prod government authorities concerned to fasttrack consideration of “many unsolicited proposals, like tapping water source from Kaliwa Dam.” Gatchalian also cited signals that Singapore “wants to share [its] desalination technology” where water supply is purified.

“They [Singapore] have been doing this eight years now.”

Seized pork

THE Bureau of Customs (BOC), meanwhile, seized P3.5 million worth of misdeclared pork and other meat products from China which are suspected to be contaminated with ASF. The BOC Port of Manila on Monday seized two containers with pork and other meat products which arrived at the South Harbor on October 12.

The goods were consigned to Jeniti International Trading and processed by Customs Broker Arlene de Mateo Gonzales.

Based on the initial report, the consignee declared the shipment as tomato paste and vermicelli with a total declared duties and taxes of P288,576.

The shipment was tagged “red,” and was required to undergo documentary inspection but also physical inspection and x-ray screening.

With a report by Jove Moya

system.”The four food safety measures in the draft MC shall be part of the requirements for rice importers who will apply for SPS-IC from the Bureau of Plant Industry.

Interested importers shall secure a Certificate of Analysis containing compliance with the four requirements from a “competent” authority or accredited laboratory from the country of origin of the rice. “The COA is in addition to the existing quarantine pre-shipment and post-shipment SPS requirements for milled rice,” the draft circular read.

“Importers shall ensure that the pesticides found in the shipment are contained in the list of registered pesticides for rice in the Philippines,” it added.

Gatchalian pointed out that “the problem is not in distribution [of water supply], but the source is only La Mesa Dam. We have to find another source.”

President Duterte warned on Monday that he will use his “extraordinary powers of the presidency”should the situation worsen.

He also said he could not allow people to go about without water even for drinking.

“I will go and operate it myself. I will take over and I will direct what to do. Ganoon lang ‘yan. Hindi niyo kaya? Oh sige ako. Umalis kayo diyan [That’s it, simply. You can’t do it? Okay, get out],” Duterte said in an ambush interview.

While the President did not cite any specific timeline as to when the government takeover could take place, Panelo said this could be prompted by the gravity of the situation.

“Dahil depende nga sa sitwasyon, eh kung bukas wala nang tubig, bakit ka pa maghihintay ng another week to decide. [It depends on the situation. If tomorrow there is already no water, why should we wait for another week to decide?],” he said.

Maynilad and Manila Water Co. announced rotational interruptions last week due to the low water levels at Angat and Ipo dams.

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Creating a Department of Water to make PHL water-secure–Neda

By Cai U. Ordinario

T

@caiordinario

HE creation of the Department of Water will help make the Philippines watersecure, according to the National Economic and Development Authority (Neda).

Neda Undersecretary for Planning and Policy Rosemarie G. Edillon said a draft bill has already been submitted to the House of Representatives.

The bill is now being discussed in a joint technical working group (TWG) of the House Committees of Government Reorganization and Public Works.

“The TWG is working toward a single bill creating the Department of Water Resources and a Water Resources Regulatory Commission,” Edillon told the BusinessMirror on Tuesday.

The creation of the Department of Water aims to address the fragmented water administration in the country. Currently, several agencies are in charge of water administration and regulation.

Former Environment Secretary Elisea Gozon said the proposal to create a separate Department of Water has been around since the time of former President Fidel V. Ramos. However, it was only now under the Duterte administration, was it given serious attention.

Gozon said these developments could not have been more needed as the country’s water resources are already under stress.

At the sidelines of a recent water crisis hearing at the House of Representatives, National Water Resources Board (NWRB) Executive Director Sevillo D. David Jr. said Metro Manila is not out of the water crisis yet. David said that as the city expands, the more waterstressed it becomes. He told the BusinessMirror that each Filipino uses 120 liters per day.

Infra spend. . .

Continued from A1

2.66 percent in 2013; 2.74 percent in 2014; and 4.33 percent in 2015.

Data show it fell below the target of 2.2 percent and 3.5 percent in 2012 and 2014, respectively.

In 2017, an ADB report estimated that infrastructure needs of developing Asia and the Pacific will exceed $22.6 trillion through 2030, or $1.5 trillion per year.

The estimates will rise to over $26 trillion, or $1.7 trillion per year, when climate-change mitigation and adaptation costs are incorporated.

“Developing Asia must strive to find new, innovative, outside-thebox financing solutions to meet its huge infrastructure investment needs. I am confident that this rich collective volume prepared by experts from inside and outside ADB will set forth some concrete and specific directions for infrastructure financing, as well as provide food for thought,” ADB Vice President for Knowledge Management and Sustainable Development Bambang Susantono said.

Seafarers. . .

Continued from A1

Based on data from the Philippine Overseas Employment Administration (POEA), the number of deployed Filipino seafarers in 2017 grew 1.5 percent to 449,463, from 442,820 in 2016.

Further, POEA records showed one in every five overseas Filipino workers deployed in 2017 is based at sea. That year the Philippines sent 13,501 seafarers to Norway, making it the ninth-largest employer of sea-based OFWs, to trail Panama, Bahamas, Republic of Marshall Island, Liberia, Malta, Singapore, Bermuda,

When this is multiplied by 14 million—the current population of Metro Manila—the total if 1.68 million cubic meters per day.

He said water supply in Metro Manila has not yet recovered months after the recent artificial water crisis, given that the level at Angat Dam was still near the minimum. The dam is currently the primary source of water for the city.

In the hearing, David said while the level of the Angat is at 181.7 meters and is above the minimum operating level of 180 meters, this does not mean the megacity is already “out of the woods.”

This is because this is still far from Angat’s normal high level of around 210 to 220 meters.

In fact, David said, the normal water level of Angat of 180 meters has been breached more frequently in the past five to 10 years.

David said the lowest level reached by Angat in the last 10 years was in 2010 when it reached 157.55 meters and the second-lowest was recorded this year, 157.96 meters.

Meanwhile, Gozon said majority, or around 73.05 percent of water’s consumptive use is allocated to irrigation; 17.27 percent is for industrial uses; 7.79 percent are for domestic or municipal use; and 2 percent is for other uses.

In terms of nonconsumptive use, the largest allocation is for power at 57.09 percent; irrigation, 31.35 percent; industrial, 7.4 percent; domestic/municipal, 3.34 percent; and others, 0.81 percent.

She added that while 87.7 percent of Filipinos have access to water, according to data from the Philippine Statistics Authority, less than 50 percent have piped water in their premises and majority of these are located in urban areas.

Unfortunately, Gozon said some 332 municipalities nationwide continue to be “waterless” as of December 2015. Waterless, she said, means supply is below 50 percent.

To address this challenge, ADB said in its newly launched book titled “Infrastructure Financing in Asia” that governments in the region must create public finance and institutional reforms to create a stronger enabling environment for public–private partnerships.

ADB said it provides out-of-the box solutions in the form of tax financing, mass transit investments, and smart energy grids investments to help meet the infrastructure financing gap.

The book also explored alternative financing methods to unlock long-term funding from institutional investors and offered mechanisms to deepen the region’s bond markets.

ADB said it examined the use of green bonds to finance sustainable growth in Asia, and other efforts done by countries under Asean+3.

These efforts include developing local currency bond markets to provide long-term local financing in countries, such as Brunei Darussalam, Cambodia, People’s Republic of China, Indonesia, Japan, Republic of Korea, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Italy, in that order.

According to NSA’s web site, its members employ over 55,000 seafarers and offshore workers from more than 50 different countries and territories, and Solberg disclosed at least 20,000 of this labor force comes from the Philippines.

World Trade Organization experts in early October downgraded their forecasts for trade growth this year and next year.

Global merchandise trade volumes are now projected to grow by just 1.2 percent in 2019, lower than the earlier forecast of 2.6 percent in April, and by 2.7 percent in 2020, down from the previous 3 percent.

The Nation BusinessMirror

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Manila, QC top Metro cities with most number of child laborers, DOLE report says

By Samuel P. Medenilla

M

@sam_medenilla

AJORITY of the child laborers who were profiled by the Department of Labor and Employment (DOLE) this year in Metro Manila worked as vendors or helpers.

This was the result of the mid-year report filed by the DOLENational Capital Region (DOLE-NCR) from July to September.

Of the 7,301 profiled child laborers, 65.3 percent are working as vendors or helpers, while 24.3 percent are employed in the waste management sector.

The rest worked in the following industries: construction (3.7 percent); transportation and storage (3.2 percent); domestic work (2 percent); and manufacturing (1.5 percent).

“A total of 5,251 child laborers and their families were referred for necessary services with 27 of those children [from said figure] withdrawn from child labor,” Senior Labor and Employment Officer Aurora E. Halcon said in a news statement.

Among the intervention given by DOLE to the families of the child laborers includes self-employment (livelihood assistance), practical skills training, Balik Probinsya Program and Job Placement for the Family Members.

The profiled child laborers, who were aged between four to 17 years old, “are engaged in paid or self-employment to buy things for their school needs, help their family in attending to household chores or help their family/employer operate their small business.”

Three-fourths of them attend school and only a quarter are not attending school since they “cannot afford to go to school, not interested in school, school is too far, due to bullying, due to early pregnancy, lack of financial support/death of parents or teachers not supportive.”

Quezon City and Manila are the two cities with the highest profiled child laborers with 1,792 and 1,538, respectively.

The profiling is part of the DOLE’s initiative to help 175,000 child laborers by 2022.

As of June, DOLE was able to profile 85,582 child laborers.

Bureau of Local Employment (BLE) Director Dominique R. Tutay proposed the expansion of the profiling being conducted

by DOLE to include senior citizens or persons with disability and enable DOLE to provide for their needs.

“We cannot provide assistance to them unless we could see the faces of the people with disability and senior citizens,” Tutay said.

DOJ orders NBI to probe Mayor Navarro’s gun slay

T

By Joel R. San Juan

@jrsanjuan1573

HE Department of Justice (DOJ) on Tuesday said it would issue an order to the National Bureau of Investigation (NBI) to implement President Duterte’s directive to probe the death of Clarin, Misamis Occidental, Mayor David Navarro while under police custody.

“The President has control over the entire Executive department, including the PNP [Philippine National Police] and the NBI. His directive should therefore be sufficient for the NBI to commence its probe,” Undersecretary Markk L. Perete said in a text message to reporters.

He also said a department order shall be issued for “record-keeping purposes.”

Earlier, Duterte said he preferred the NBI to handle the probe in the killing of Navarro who was shot while under police custody.

The PNP, which is handling the investigation, has been ordered by the President to keep it hands off on the case and hand over documents and other pieces of evidence to the NBI. “PNP, anong ginawa ng PNP? Baka sila ang pumatay. Eh sila ‘yung malapit, [PNP, what did the PNP do? Maybe they killed him. They were the ones near him]” the President told reporters.

“To make it really fair, I’d like to order the police to terminate their investigations and hand it to the NBI, whatever documents and/ or proof or evidence they have in their hands,” he said, noting that the police were there when the mayor was shot last October 25.

The President also confirmed that he met with the slain mayor who is included in the narco-list, and was told that somebody “is out to get him.”

Navarro was being escorted by police at the Cebu City to a prosecutor’s office when he was ambushed last October 25.

He was supposed to be brought for inquest after allegedly assaulting a massage therapist.

Perete said the President’s order would quell doubts on the government’s commitment to hold accountable perpetrators of crimes.

Editor: Vittorio V. Vitug • Wednesday, October 30, 2019 A3

briefs COURT JUNKS PLEA TO REOPEN MAGUINDANAO MASSACRE TRIAL THE Regional Trial Court (RTC) of Quezon City has denied the plea of former Datu Unsay, Maguindanao, Mayor Andal Ampatuan Jr. to reopen the trial for the Maguindanao massacre case.

In a five-page order, Judge Jocelyn A. Solis-Reyes of RTC Branch 221 denied for lack of merit Ampatuan’s motion to reopen trial with motion to suspend period to set the promulgation of judgment.

Ampatuan’s motion was anchored on the supposed desire of prosecution witness Sukarno Badal who allegedly contacted him through his representative, saying he wanted to recant his testimonies and those he mentioned in the presentation of evidence against the accused were not true.

In denying the motion, the trial court pointed that Badal has denied in court the claims of the accused, with the witness saying there was no truth in what was stated in the motion. Joel R. San Juan

ENOUGH MANPOWER AT NAIA FOR HOLIDAY PASSENGER SURGE

THERE is enough manpower at the Ninoy Aquino International Airport (Naia) to respond to the expected surge of passengers who will travel in and out of the country during the Halloween break, according to Bureau of Immigration (BI) Port Operations Division Chief Grifton Medina.

More than 500 immigration agents and officers, he added, are currently deployed at the three terminals of Naia, “which is adequate to cater to the demand of the traveling public.”

Medina said these officers are assigned to the airport’s BI counters to void the long passengers queue.

“Our officers have been instructed not to be late or absent for work this peak season, they should not go on leave until after the Halloween break,” Medina said.

“All counters are manned to ensure that we provide our service efficiently,” he added.

The Philippine Red Cross, meanwhile, said is ready to provide safety and welfare assistance by mobilizing 156 ambulances, and more than 1,700 staff and volunteers nationwide during the observance of All Saints’ and All Souls’ days.

“As always, PRC is in full operation to accommodate everyone, especially our kababayans who will be going home to their respective provinces to visit their departed loved ones. We want to ensure their safety,” said PRC Chairman and Chief Executive Officer Richard Gordon. Recto Mercene

GOVT ADHERES TO REHAB TO SOLVE DRUG ADDICTION–CAYETANO HOUSE Speaker Alan Peter Cayetano on Tuesday stressed that government still believes that rehabilitation could still solve the country’s problem on illegal drugs.

During his Taguig City Jail visit, Cayetano said the government is not abandoning the option of rehabilitating drug addicts amid its “war on drugs,” which reportedly claimed over 5,500 lives.

“We still believe in rehabilitation. We believe that although detention is punishment, its intention is to rehabilitate, to return to society...we’re not abandoning those in jail,” Cayetano said. Jovee Marie N. Dela Cruz

Economy

A4 Wednesday, October 30, 2019 • Editor: Vittorio V. Vitug

BusinessMirror www.businessmirror.com.ph

Jica to fund P69.065-B infra projects to boost PHL’s investment posture

By Cai U. Ordinario

T

@caiordinario

HE Japanese government is funding P69.065 billion worth of road and bridge projects nationwide to help the Philippines increase investments and create more jobs.

The amount, a news statement said, covers eight ongoing projects which are part of the Duterte administration’s Philippine Development Plan (PDP) and “Build, Build, Build” initiative meant to increase the Philippines’s infrastructure spending to P8 trillion to P9 trillion by 2022.

“We want to help the Philippines improve the conditions of its roads and bridges so more investments can come into the Philippines and more jobs will be created,” said Japan International Cooperation Agency (Jica) Senior Representative Kiyo Kawabuchi. “Our support is also part of our commitment to building quality infrastructure in the region to boost economic development and build resiliency against natural disasters in the Asian region,” she added.

The largest project to be financed by Jica is the P20.423 billion Road Upgrading and Preservation Project (RUPP), which is reconstructing nine roads and bridges that were

severely damaged due to the earthquake along the Bohol Circumferential Road.

Another big-ticket project is the Davao City Bypass Construction Project (south and center sections) worth P11.953 billion which is building a four-lane road and tunnel in the city.

Other projects being financed by Jica include the P11.398 billion Central Luzon Link Expressway Project; P10.735 billion Road Network Development Project in Conflict Affected Areas in Mindanao; and P3.965 billion Metro Manila Interchange Construction Project (Phase 6).

The list also includes the P4.891 billion Metro Manila Priority Bridges Seismic Improvement Project; P4.7 billion Arterial Road Bypass Project (Phase 3); and the P1 billion Programme for the Support for Rehabilitation and Reconstruction of Marawi City and its Surrounding Areas.

“Aside from hard infrastructure like building roads, bridges and railways, Jica is also supporting transport infrastructure

House sets year-end legislative priority agenda; bills on proposed depts. of water, OFW, disaster top list

By Jovee Marie N. Dela Cruz @joveemarie

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HE House of Representatives will prioritize the passage of bills that will pave the way for the creation of the Department of Water, Department of Filipino Overseas (DFO) and Department of Disaster Resilience (DDR) within the year.

In an interview, Speaker Alan Peter Cayetano said the lower chamber will focus on the passage of these new departments as lawmakers have already passed the revenue bills to fund government projects and programs, as well as the creation of new offices.

“The President mentioned these Department of Water, Department of Filipino Overseas and Department of Disaster Resilience in his recent Sona. The Department of OFW [overseas Filipino workers] and Department of Water, we want it done before the end of the year,” Cayetano said.

“That’s why we approved first the revenue bills [the remaining measures under Comprehensive Tax Reform Program] so we can pass easily the bills creating new offices, giving more responsibilities and promising more social benefits,” he added.

Albay Rep. Joey Sarte Salceda, who also led the technical working group (TWG), said they are still finalizing the substitute bill on Department of Water.

Under the bill, the Department of Water would be responsible for the comprehensive and integrated planning, policy formulation and management of the ownership, appropriation, utilization, exploitation, development, conservation and protection of water resources to ensure the optimal use for domestic and municipal water supply, sanitation, irrigation, hydropower, industry, navigation, flood management, recreation and fisheries/aquaculture.

For his part, Deputy Speaker Luis Ray-

mund Villafuerte has assured OFWs that the House of Representatives is giving top priority to creating a new department to address the concerns of this ever-burgeoning sector.

Moreover, Villafuerte also ensured the cooperation of the House leadership with OFW groups and other stakeholders involved in the training and overseas placement of OFWs behind the speedy congressional approval of the proposed DFO. Salceda, also the head of the TWG on the DFO, said the proposed DFO will absorb the functions of Philippine Overseas Employment Administration and Overseas Workers Welfare Administration (OWWA), with the POEA as the lead agency.

President Duterte, in his fourth Sona last July 22, sought the creation of this proposed OFW department as one of the priority measures that he asked the 18th Congress to pass soon enough in support of his agenda for sustained high growth and accelerated poverty reduction.

Also, Marinduque Rep. Lord A llan Velasco, sponsor of the measure creating DDR, underscored the need for a coherent government response to disasters under a new agency.

Velasco said the country has an average of 20 tropical cyclones every year which produce floods, landslides and storm surges.

Velasco, following a meeting with Dr. Renato Solidum of the Philippine Institute of Volcanology and Seismology (Phivolcs), surmised that the Philippines is among the top countries in the world with a higher risk of disasters. The others are Bangladesh, Guatemala and Brunei Darussalam.

The lawmaker also noted that the country is host to 300 volcanoes of which 24 are active.

He said 20 earthquakes are recorded by the Phivolcs everyday including some 90 destructive earthquakes and 40 tsunamis in the past 400 years.

development through soft measures, such as institutional support, capacity building and technology transfer,” Jica said in the same news statement.

These projects include efforts to share Japan’s expertise in road maintenance under the recently completed Project for Improvement of Quality Management for Highway and Bridge Construction and Maintenance.

Further, the Philippine government has approved the Jica and National Economic and Development Authority’s Roadmap for Transport Infrastructure Development for Metro Manila and its Surrounding Areas study in 2014 to sustain development by decongesting traffic, and spread economic growth in nearby areas.

According to the road map follow-up study, no interventions could mean worsening traffic and increase of transport costs from P3.5 billion a day to P5.4 billion a day.

Of the total Official Development Assistance (ODA) of Jica in the Philippines, transport infrastructure accounts for 80 percent development support from 2013 to 2017 that also includes roads and railways.

Japan is the Philippines’s leading ODA partner with ODA disbursement amounting to $352 million in 2017.

This year, the Department of Public Works and Highways recognized Jica as Development Aid Partner for the Year for infrastructure support in the BusinessMirror’s Mission: PHL, Envoys & Expats Award.

Slaying of another ranger prompts Cimatu to renew call for creation of DENR-EB

By Jonathan L. Mayuga

@jonlmayuga

E

NVIRONMENT Secretary Roy A. Cimatu has renewed his call to Congress to pass a measure that would establish an enforcement bureau (EB) within the Department of Environment and Natural Resources (DENR) following the fatal shooting of another forest ranger from Nueva Ecija over the weekend.

Ronaldo Corpuz, who was assigned at the Community Environment and Natural Resource Office (Cenro) in the town of Muñoz, Nueva Ecija, died in the hospital two days after being shot by a still unknown assailant.

He was the third forest ranger to be killed this year. The killings happen within a span of two months.

Corpuz was shot multiple times in front of his house at around 7:35 p.m. on October 25.

He was brought to the Premiere Hospital in Cabanatuan City, where he underwent surgery to pluck the bullets from his body. He, however, was declared dead on October 27.

The DENR chief condemned the latest attack against forest rangers of the DENR and called on the police to go after the suspects.

“This senseless attacks against forest defenders must come to an end,” Cimatu said in a news statement.

Gaudencio Arana, a long-time DENR informant also assigned at Cenro Muñoz, was gunned down by two motorcycle-riding assailants on September 11.

On September 4, suspected illegal loggers stabbed DENR Forest Ranger Bienvenido Veguilla Jr. to death using a jungle bolo in El Nido, Palawan.

Five of the six suspects have already been arrested, and charged for murder and violation of Presidential Decree 705, or the Revised Forestry Code of the Philippines.

Cimatu said the deaths of the forest defenders call for the immediate passage of a measure creating the DENR-EB.

DND welcomes release of ₧20B for pension of military retirees

By Rene Acosta

T

@reneacostaBM

HE Department of National Defense (DND) welcomed on Tuesday the release of funds for the pension differentials of retired military and uniformed personnel (MUP) amounting to more than P20 billion.

“This a very positive development for our retirees,” said Defense Undersecretary for Civil, Veterans and Retiree Affairs Reynaldo Mapagu.

“Our retired soldiers deserve this,”

he added.

The Department of Budget and Management (DBM) recently announced the release of P22.3 billion to the DND, Department of the Interior and Local Government, National Mapping and Resource Information Authority and Philippine Coast Guard to cover the pension differential of retired MUP for June up to December 2019.

The DBM also clarified that the pension differential for January to May 2019 will be acted upon separately subject to the

availability of funds.

On October 9, 2019, the DBM issued a special allotment release order amounting to P3.206 billion to the Armed Forces of the Philippines to cover the funding requirements for the pension differential of the military retirees for April up to May 2019.

“We ask our Congress to continue their support for our military and uniformed personnel as we explore reforms that will greatly help them, particularly our retirees,” Mapagu said.

News BusinessMirror

www.businessmirror.com.ph

Wednesday, October 30, 2019 AA5

Strong earthquake jolts Mindanao anew

D

AVAO CITY—At least two persons were confirmed dead and dozens were hurt when a 6.6-magnitude quake struck parts of Mindanao at 9:04 a.m. on Tuesday, with the epicenter traced in the same North Cotabato town during the 6.3-magnitude temblor on October 16.

Unofficial reports, however, indicated five deaths with hundreds injured, but the National Disaster Risk Reduction and Management Council (NDRRMC) said that it was basing its reports from official communication from various civil defense offices, although it added that the number of casualties could still rise.

Local officials identified the casualties as 15-year-old Jessie Riel Parba, a resident of Magsaysay, Davao del Sur, and Koronadal City resident Nestor Narciso, 67.

Parba, a Grade 9 student, was declared dead on arrival after he was hit by falling debris in his school, officials said.

Narciso was also declared dead on arrival at a local hospital after being hit with blocks of concrete at their church where he was working, church caretaker Isaiah Donaire told the Philippine News Agency.

The temblor shook parts of Regions 9, 10, 11 and 12, just two

weeks after a 6.3-magnitude quake also jolted the island, with Tulunan as the epicenter.

The NDRRMC said that 30 people were initially reported as having been injured in Kidapawan City and another 13 in M’lang in North Cotabato, but the casualties could be higher as local officials have barely started their assessments.

The tremor was felt at intensity 7 in Tulunan and Makilala in North Cotabato, in Kidapawan City and in Malungon in Sarangani.

It registered as intensity 6 in Davao City, Koronadal City and Cagayan de Oro City, while it was felt at intensity 5 in Tampakan, Surallah and Tupi, all in South Cotabato, and Alabel in Sarangani.

Intensity 4 was also recorded in General Santos City and Kalilangan in Bukidnon, while it shook Sergio Osmena Sr. in Zamboanga del Norte, Zamboanga City, Dipolog City, Molave in Zamboanga del Norte and Talakag in Bukidnon at

intensity 3.

The NDRRMC said it was expecting damage from the quake, noting the tremor struck just two weeks after another earthquake jolted most of the affected areas.

The Philippine National Police urged people in Mindanao to remain “calm and composed” following the tremor. Officials are expecting aftershocks.

PNP Officer in Charge Lt. Gen. Archie Gamboa ordered all police commanders to immediately mobilize their respective units and personnel to respond to calls for help and provide necessary assistance in coordination with local officials and disaster officials.

Initial damage report

IN the latest quake, cracks and damages were reported on the ground and structures among different areas: a bamboo and nipa shed beside the Magsaysay municipal town hall collapsed and crushed a line of parked motorcycles; several air-conditioning units fell off the ledge of the Magsaysay municipal hall; a crack marred the façade of the 10-story Felcris Centrale, a mixed-use building with a call center and mall at the second floor; wide cracks were seen in many sections, some as wide as more than a foot, in Datu Montawal, Maguindanao.

Photographs of damage were posted online a few minutes following the quake, including snapshots of students and other persons being

carried on stretchers and given first aid treatments in Kabacan, North Cotabato.

The Emergency Response 911 here evacuated the occupants of the Felcris Centrale and said it treated some people for multiple injuries but its central communication office had yet to receive the exact number of the injured.

Reports said some people fainted, including students at a high school in Matina here, and those in Malita, Davao Occidental. Evacuations were also reported by hospital authorities in Kidapawan, North Cotabato.

The Philippine Institute of Volc a nolog y a nd Sei smolog y (Phivolcs) recorded 64 aftershocks five hours later, with seven within the Magnitude range of 4 and 4.8. Phivolcs Renato Solidum said the quake has an intensity 7 impact and classified as destructive.

Davao City Mayor Sara DuterteCarpio has suspended classes in all levels again and instructed officials to check for quake-related cracks on buildings.

All government personnel in Malita were also sent home after the quake, as residents closed sarisari, or retail, stores in the public market.

The Civil Aviation Authority of the Philippines has checked the integrity of the Davao Airport runway and has cleared it of any sign of damage. Rene Acosta, Manuel Cayon with PNA report

Makati subway project gets addl $332-M initial funding

A

N additional $332 million, or P17 billion, in fresh funding from two Chinese companies has been made available for the planned Makati City Subway system project, Makati Mayor Abby Binay revealed on Tuesday.

This was made possible after Philippine InfraDev Holdings Inc., lead private-sector proponent, signed a $302 million investment deal with Hui Gao Investments Development Ltd. Hui Gao Investments Development Ltd. has split $102 million as equity investment, and $200 million credit facility to build the subway.

Combined with the land contribution and the initial investment of Makati City, the subway system now has an initial funding $500 million.

Under the agreement, Hui Gao will provide at least 51 percent of the funding. The money will be released 60 days after the agreement has been signed.

“The Makati subway project is definitely gaining momentum, and we are confident that our lead partner Philippine InfraDev Holdings will be able to sustain the pace and finish the project on schedule,” Binay said.

Binay added that the local government of Makati City is grateful to its new partners. “We thank our new partners from the Chinese business community for showing their trust in the viability of the subway project through their investments.

We anticipate more investors coming in to share our ambitions for Makati,” she said. $30 million was also secured through a shared sale to Shanghai Mintu Investments Ltd., the corporate entity that will be responsible for the subway system’s construction and operations.

Shanghai Mintu is an investment holding group focusing on infrastructure, mass transportation, and financial services. The company built the Jiangyin Yangtze River bridge, the longest bridge

in China and third longest in the world when it was completed in 1999.

The subway would connect key points in Makati like the current Central Business District at the corner of Ayala and Sen. Gil Puyat Avenues, Circuit City, Makati City Hall, University of Makati, Ospital ng Makati and other new growth areas within the city.

The subway will have at least 10 air-conditioned, underground island stations whose entrances will be linked to destinations across the city.

It can accommodate up to six car trains, with room for over 200 persons per car, with more than 700,000 passengers per day to be accommodated and served by the proposed mass transport system.

Binay added around 10,000 jobs will be made available to Makati residents in the construction and operation of the subway. Upon her request, job opportunities will be opened to Makati senior citizens who are still fit to work once the subway starts to operate in 2025.

The subway system is expected to increase work productivity by cutting down the daily commute or travel time of workers.

Also present at the signing ceremony in Hong Kong were three members of the Chinese People’s Political Consultative Conference (CPPCC) Standing Committee, namely Wu Lianghao, chairman of the Board of Directors of Kingway Group Holding Co. Ltd.; Zhou Andayuan, nonexecutive director and honorary chairman of China Ocean Ship Building Industry Group Ltd.; and Wei Mingde, member of CPPCC. Makati City was also represented by Atty.

Claro Certeza, city administrator and chairman of the PPP Selection Committee, and Atty. Michael Camiña, city legal officer and secretary of the PPP Selection Committee. Claudeth Mocon-Ciriaco

A6 Wednesday, October 30, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Managing animal diseases effectively require help of LGUs

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EARLY two decades ago, a law that gave more power to local governments also gave them the responsibility of providing veterinary field services. The Local Government Code of 1991 disabled the direct authority of the Bureau of Animal Industry (BAI) over local livestock industries in various areas, according to a paper dubbed “Current Status of Important Transboundary Animal Diseases in the Philippines.” One of the authors is the current BAI officer in charge, Dr. Ronnie D. Domingo.

Available on the web site of the Food and Fertilizer Technology Center, the paper noted that the BAI—an attached agency of the Department of Agriculture—manages the national veterinary services of the Philippines. Its regional line functions were decentralized following the issuance of Executive Order 292 in 1987. With the devolution of most veterinary field services to local government units (LGUs), BAI had to partner with local governments, industry stakeholders and even international agencies to address disease prevention, control and eradication.

The Local Government Code of 1991 states that provincial governments should provide agricultural extension and on-site research services and facilities, which include the prevention and control of plant, and animal pests and diseases. The law allows cities to designate a city veterinarian, while municipalities and provincial governments could hire an agriculturist. Part of the duties of the veterinarian under the law is the implementation of measures to eradicate, prevent or cure all forms of animal diseases.

Despite the devolution of veterinary services, cooperation among the national government, LGUs and industry stakeholders had allowed the Philippines to effectively control and even eliminate animal diseases. Some of these animal diseases include the foot-and-mouth disease, classical swine fever and Newcastle disease. However, the new millennium has brought with it a lot of challenges, which were primarily caused by the need to beef up food production amid the challenges posed by changing weather patterns and an expanding global population.

The Philippines is a net importer of food and it has been increasingly importing live animals and meat products to meet its food requirements in recent years. The expanding demand for processed meat products, which are generally cheaper, has also jacked up the purchases of mechanically deboned meat by manufacturers. However, this has also made the country vulnerable to transboundary animal diseases, such as the African swine fever (ASF) and avian influenza.

Contingency plans for dealing with animal diseases prepared by the BAI had recognized the importance of close coordination between the national government and LGUs. Apart from the crafting and enforcement of control measures, the ASF contingency plan calls on LGUs to help in financing initiatives to control and eradicate the highly contagious hog disease. Their role is not just limited to preventing the entry of pork-related and processed meat products in their areas.

Just like avian influenza, ASF is a highly contagious hog disease that could cripple the local domestic livestock sector if the government and stakeholders are not careful in implementing measures to prevent its spread. The government and stakeholders can start with the contingency plan, particularly the protocol for handling processed meat products for testing. There is a need for government veterinarians to religiously follow the guidelines for testing samples to prevent cross contamination.

The national government and LGUs must also coordinate regularly so that the anti-ASF measures they will implement are based on science. Information and education campaigns should communicate these measures, and clear misconceptions about the disease and its impact on humans. The local hog sector is already incurring P1 billion a month in “opportunity losses” and this could balloon if demand will continue to decline because people are still afraid to eat pork.

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‘Russia and Africa: Uncovering the Potential for Cooperation’ (Speech delivered by Russian President Vladimir Putin at the Plenary Session of the Russia–Africa Economic Forum in Sochi, Russia, on October 23, 2019)

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R. President, heads of state and heads of government of the African countries, friends, ladies and gentlemen.

I would like to offer my heartfelt greetings to all of you, participants and guests of the Russia—Africa Economic Forum timed to coincide with the first-ever summit of Russia and African states.

All countries of the African continent are represented here today, by top officials, politicians and, of course, business leaders. Top managers of almost 2,000 Russian and foreign companies are taking part in this forum. The topic of this plenary session, “Russia and Africa: Uncovering the Potential for Cooperation,” is extremely important and relevant.

Economic issues are an integral part and an actual priority of Russia’s relations with the African countries.

Developing close business ties serves our common interests, contributes to the sustainable growth of all our countries, helps to improve quality of life and solve numerous social problems.

A lot of effort went into the preparations for this forum. Multiple events on specific fields of RussianAfrican cooperation have been held over the past year. They include an economic conference and a meeting of the African Export-Import Bank Board of Directors in Moscow last June.

The program of the St. Petersburg International Economic Forum included a special session on advancing cooperation with the African continent. There have been many other themed exhibitions, seminars, Russian-African business mission exchanges, in-depth and engaged discussions of prospective joint projects in trade, investment and industry-specific programs.

To reiterate, African countries are becoming increasingly attractive for Russian businesses. This is largely due to the fact that Africa is becoming a global economic growth center. According to experts, Africa’s GDP will have reached $29 trillion by 2050.

Russia-Africa trade more than doubled over the past five years and exceeded, as our colleague just

said, $20 billion. Is that a lot or a little? A colleague of ours said this is a good figure. I cannot agree with this. I think it is way too little. After all, ladies and gentlemen, keep in mind that Egypt accounts for $7.7 billion, or 40 percent, of the $20 billion. We have many potential partners in Africa, lots of them. They have good development prospects and enormous growth potential.

Of course, this is not enough.

Notably, the product range of counter trading is expanding, and the share of non-resource—agricultural and industrial—products is increasing. Russia is among the top 10 suppliers of food to the African market. We are now exporting more agricultural products than weapons to the markets of third countries.

Weapons account for $15 billion of our exports, whereas agricultural products are nearing $25 billion in sales, I believe. So, the potential for development is good here, too, and there are things to discuss.

We hope that taking all this together will continue to push the trade numbers up, and, I believe, we can easily at least double the volume of trade within the next four to five years.

Integration processes unfolding in Africa provide additional opportunities for cooperation. We welcome the creation of the African Continental Free Trade Area as part of the African Union (AU) and are willing to work with this new entity.

We support establishing close working contacts between the AU Commission and the Eurasian Economic Commission, which will sign a memorandum of understanding tomorrow. As an active participant in the EAEU, Russia will do its best to facilitate the convergence of trade regimes in the African Free Trade Area and the EAEU common market.

Notably, bilateral intergovernmental commissions and business

councils established with many African countries work energetically on the economic agenda of RussiaAfrica ties. Russia plans to expand its trade mission network, to support businesses and to establish new contacts.

The Coordinating Committee for Economic Cooperation with Sub-Saharan Africa, created under the auspices of the Russian Chamber of Commerce and Industry, has a good track record. This committee assists Russian entrepreneurs in accessing the African markets and helps businesses implement joint investment projects.

Many Russian companies have for a long time successfully worked with their partners from various sectors of the African economy and are determined to increase their presence in Africa. We will support such plans at the state level.

Gazprom, Rosneft and Lukoil are implementing promising oil and gas projects on that continent. Alrosa is developing diamond deposits, Yandex is present on the markets of a number of countries, and helps African states address information security challenges and develop the digital economy. Rosatom is willing to build the nuclear industry for its African partners as a turnkey project and to build research centers based on multipurpose reactors.

The construction of the Russian Industrial Zone in Egypt is nearing completion. This is a major site in the Suez Canal Economic Zone, where Russian companies will be able to localize their production facilities. About 20 Russian companies will participate in this project. This is the current estimation, and I am quite certain there will be more of them.

Friends, Russia provides systematic assistance to developing the African continent. We provide trade preferences and cooperate within international organizations, such as the World Food Program, the International Civil Defense Organization and the World Health Organization.

Our country is participating in an initiative to ease the African countries’ debt burden. To date, the total amount of write-offs stands at over $20 billion.

Joint programs have been

launched with a number of countries involving the use of debt to finance national economic growth projects.

We have developed cooperation in the fight against dangerous infectious diseases. In particular, a Russian research center of epidemiology has been established in Guinea. Yes, it is a very good project; it turned out to be very effective. Our country was one of the first to respond to the Ebola epidemic by allocating over $60 billion for fighting it. It should be said that the vaccine is very effective.

I believe it is the best in the world.

Training of skilled personnel is a traditional sphere of RussianAfrican cooperation. By the mid1980s, we had built about a hundred educational establishments in Africa and half a million Africans have been trained for work at industrial companies and agricultural facilities in African countries. Currently, 17,000 Africans are studying here in Russia, including some 4,000 who are on federal scholarships.

Friends and colleagues, this forum has a packed business program.

After President el-Sisi and I complete our speeches, the participants in this plenary session will be introduced to practical ideas and proposals in the promising spheres of Russian-African cooperation. The heads of Russian companies and the Economic Development Ministry have prepared presentations for the key Russian competencies, which open up new opportunities for our economic cooperation with Africa.

It is notable that numerous specific sessions will be held during the forum, in particular in the field of oil, gas and nuclear energy, mineral production, agriculture and high technology. You will have an opportunity to discuss concrete spheres of cooperation and coordinate agreements on mutually beneficial joint projects.

I am absolutely certain that this forum will give a fresh impetus to the further development of the entire range of trade and economic cooperation between Russia and its African friends.

I wish all of you taking part in this forum every success and all the very best. We are grateful that you decided to come to Russia.

Thank you.

Chile’s Piñera fires top economic ministers amid protests

By Eduardo Thomson Bloomberg Opinion

T

EN days of riots, protests and reprisals claimed their first political victims on Monday as Chile’s President Sebastián Piñera fired eight ministers, including the biggest hitters in the cabinet.

The interior, finance and economy

ministers were all dismissed, with Piñera naming a younger, more centrist team to convince protesters that their voice has been heard. A wave of riots, looting and protests has caused more than a billion dollars of damage this month, before spawning the largest peaceful demonstration in the country’s history. Yet, today’s announcement is unlikely to placate

a movement that has demands ranging from tax reform to constitutional change, via the resignation of the billionaire president himself.

“These have been difficult days,” Piñera said at a ceremony in the presidential palace. “Our government has heard the loud and clear message of the Chilean people who want a more fair and more inclusive society.”

The president’s approval rating slumped to 14 percent last week as the protests all but paralyzed the country’s largest cities, according to a survey by pollster Cadem. Opposition lawmakers have announced a constitutional accusation against Piñera on the grounds of humanrights violations.

See “Chile,” A7

Opinion BusinessMirror

www.businessmirror.com.ph

BRICS is about geopolitics, How long will you live? not economics Susan V. Ople

SCRIBBLES

Leonid Bershidsky

BLOOMBERG

B

RICS, one of the most powerful concepts to emerge in political economy this century, makes little sense today, S&P Global Ratings said in an e-mailed note last week. But even if that’s true for economic analysis, the acronym coined by Goldman Sachs analyst Jim O’Neill has predicted the current geopolitical reality, which isn’t served well by 20th-century institutions.

The acronym stands for Brazil, Russia, India, China and South Africa, the latter a late addition that wasn’t in O’Neill’s original 2001 paper or its 2003 sequel (which used “BRICs,” as a plural). Both reports predicted that the first four of the non-Western economies eventually would account for a much bigger share of global economic output, overtaking large European economies, and told investors they’d be wrong to miss the opportunity to get involved in this global shift.

The idea often has been dismissed as a marketing tool, a way to put a flashy label on something no one could have missed, namely the growth of the big emerging economies. Those who see it that way could feel vindicated by the S&P note’s suggestion that “the diverging long-term economic trajectory of the five countries weakens the analytical value of viewing the BRICS as a coherent economic grouping.”

But, like many other serendipitous ideas, O’Neill’s has been transformed by the way the world has changed since the early 2000s.

It doesn’t really matter that the BRICS aren’t growing at the same pace. They’re still all playing major roles in reshaping the world.

As the S&P note correctly points out, putting the five countries in the same basket economically is increasingly questionable. India and China have consistently exceeded the rating firm’s growth predictions since the turn of the century. Russia and South Africa have failed to meet them since about 2005, Brazil since 2010. Of course, the five nations have greatly increased their combined economic heft since the turn of the century—but only thanks to China and India. Brazil, Russia and South Africa’s shares of global output have actually shrunk since 2000.

As the five countries’ economic models and policies have diverged, so did the paths of their credit ratings. China’s went up four rungs on the S&P ladder to A+, while the others never got that high: Russia and India are five steps below today, and South Africa and Brazil seven and eight below, respectively.

This divergence suggests that O’Neill made a mistake in betting on the future champions. He could have gone with Indonesia and Vietnam instead of Brazil and Russia (acronym VICI, “I conquered” in Latin) and then someone could have added Nigeria (VINCI, as in, you know, Leonardo da Vinci)—and it would have made more sense in terms of growth trajectories, while the combined share of global output would have remained the same at 32.6 percent.

That, however, wouldn’t have captured the geopolitical reality, as well as the BRICS concept does. Responding to criticism of his brainchild, O’Neill has pointed out that his 2001 paper was meant to question the adequacy of the contemporary global economic governance system.

Indeed, he suggested clearing the European spots in the G-7 for some of the emerging powers; Germany, France and Italy could share one seat as euro area members. The resulting group, O’Neill argued, would better reflect the changing economic setup.

That, of course, never happened.

But emerging economies did gain more power when it comes to global government. The G-20 is arguably a more effective body today than the G-7. At any rate, far-reaching changes

As the five countries’ economic models and policies have diverged, so did the paths of their credit ratings.

China’s went up four rungs on the S&P ladder to A+, while the others never got that high: Russia and India are five steps below today, and South Africa and Brazil seven and eight below, respectively. in global tax regimes are being discussed in the larger forum, while the G-7 lately has been unable to agree on much at all.

The BRICS countries, meanwhile, have turned out to be a valuable support group for each other.

Their leaders hold a summit every year (next month, they’re scheduled to meet in Brazil). Devoid of access to the top jobs in international financial organizations and development institutions, which still nearly always go to Westerners, they’ve set up the New Development Bank to finance infrastructure projects in the developing world. Voting rights in it aren’t weighted by the size of the countries’ economies. Four years after starting operations, it has a $10.2 billion loan book; that’s relatively small, but the NDB is one of the word’s biggest multilateral development banks by paid-in capital.

If one considers O’Neill’s original idea a marketing device, it appears to have worked better on BRICS leaders than on international investors, who have long since noticed the differences in growth patterns. Not coincidentally, four of these leaders are the world’s top authoritarians, the people most eager for an alternative to the global dominance of the US: Xi Jinping, Vladimir Putin, Jair Bolsonaro and Narendra Modi.

Are they impressed by an acronym an analyst thought up 18 years ago or are they drawn together by something stronger than that?

Economic power, of course, is hugely important in international relations, but it’s not the only reason countries are powerful. Russia’s military strength and risk appetite make it a global player despite a moribund economy that’s stifled by authoritarian rule. Brazil and South Africa are leading regional powers no matter how they mismanage their economic affairs. That’s why the S&P note mentions BRICS’s “political salience” even as it puts in doubt the concept’s value to a credit analyst.

These nations—as well as other populous and often economically dynamic countries in Africa and Asia— are still, like in 2001, outsiders in the global financial system. That is still run by the US and Europe, to a greater degree than their shrinking share of global output would appear to warrant.

In that sense, O’Neill’s old idea is still highly relevant. If he failed to predict exactly which countries would outperform on growth, he had the right idea about developing nations’ quest for a bigger role in global decision-making. That quest continues, regardless of which letters can be added to the original acronym, and which taken out of it, based purely on economic growth.

T

HE average life span of a cockroach is one year. But, a cockroach does not know this. It does not scurry into safety at the sight of a giant shoe looming overhead, waiting for the perfect moment to squash it to extinction.

You and I differ from a cockroach.

We are born knowing that eventually we will die. Like bread crumbs to pudding, our ashes will comingle with the Earth, thus offering nutrients to earthworms. An earthworm is far luckier than a cockroach. Its life span varies widely, from six to nine years, with the luckier species able to survive for at least 20 years.

That we, humans, are gifted with the knowledge that our umbilical cords come with an expiration date appear to be lost on people who live aimless lives. To wake up each morning and feel that this day is no different than the other is such a grievous error in judgment. Every sunrise is an opportunity to live a day better and more productive than the previous one.

How long will you and I live? We need to ask that question because tomorrow, we could die. It would be such a shame if we go through life hoarding baskets of regrets in the backyard of our memory.

When we ride in an elevator, we press the number of the floor where we want to get off. In death, none of us know which button to press. Divinity has its own penthouse, and only those authorized by Heaven can reach that holy floor. So, live.

Do not aim to merely exist. Leave an imprint, perhaps not as huge as Gandhi’s, but something precious to those who truly love you. Be good.

One of my mentors, a wise and brilliant man by the name of Silvestre Afable Jr., once said that we really only need the unconditional love of at least one person to get by in life. To be get love, one must know how to truly love. So, love. Do not aim to merely receive. Give as much as you can of yourself, whether through ideas, heartfelt hugs, and compliments that are sincere as biblical Psalms.

Do not be stingy with appreciation.

Money as a manifestation of love is overrated. That gadget you bought as a gift will depreciate in value as soon as it’s opened. The value of an

Wednesday, October 30, 2019 A7

unexpected hug at a critical time is a memory that appreciates with time.

If you spend time formulating horrendous memes and captions to bash someone else, please stop.

The keyboard was not invented to be your accomplice in hate. Besides, the more energy you spend disliking people, the lesser minutes in the day for you to take in the positive energy of life. Hatred cuts life short.

Bigotry is arrogance that kills. Remove that from your life. Be happy, if not always with yourself, than be happy for others.

Do you remember cramming for the final exams during your college days? Getting a failing grade is embarrassing because somehow you are judged based on the marks you get.

Beyond school, failure teaches the greatest lessons. Do not let your fear of failure overshadow the potential to succeed. Trust yourself. In life, those who at least try would always get an answer. You just need to know what questions to ask, which situations to aim for. When you challenge yourself, then you get to know what living is all about. My father, the late great Ka Blas Ople, once said that the biggest tragedy is to grow old without really knowing what you want to be in life. Ambition is not a bad thing to have.

The average life expectancy of a Filipino is around 70 years. Nineteen years ago, our average life expectancy was only 58 years. That’s a difference of nearly 30 years! Compared to a cockroach, we are infinitely luckier.

That you are able to read this column

is already an affirmation of that good fortune. So, read more. Expand your mind. Develop your abilities. Age should not be a hindrance in uncovering your true worth. Observe your surroundings and take in as much as you can—the colors, the scents, the feelings, and the sounds. Be a happy sponge. Be grateful.

And as you live, where you are, with the people who love you, think of how you can improve your humanity. Always be a work in progress. Embark on self-improvement initiatives. Save money so you can travel; earn money so you can enroll in a class that is totally alien to what you currently do. Learn.

Be kind. When you are at work, in meetings, or sharing a crowded space with complete strangers, just breathe in and out with a grateful heart. Smile more. Find opportunities to laugh. It’s not that hard. One of the greatest follies in life is to spend more time looking at your phone than conversing with people. Do not type what you feel. Say it.

How long will you live? That may be God’s biggest surprise. When that divine elevator takes you to afterlife’s roof deck, I wish you the biggest smile, from within, radiating through the clouds, into the hearts of people that remember you best. For now, live and do your best.

Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues.

She also represents the OFW sector in the InterAgency Council Against Trafficking.

Fed’s conflict is a symptom of problems it can’t solve alone Mohamed A. El-Erian

BLOOMBERG VIEW

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HEN they conclude their two-day October policy meeting on Wednesday, Federal Reserve officials will find it much easier to communicate what they did than why they did it. Murkier still is what lies ahead.

Conflicting and, at times, confusing factors fuel growing worries about the effectiveness of monetary policy in much of the advanced world.

Even the Fed, the world’s most powerful monetary institution, struggles to strike a delicate policy balance.

Based on the experiences of the European Central Bank and the Bank of Japan, if the Fed hopes to please all constituencies, that will prove elusive in the short term and potentially harmful over the longer term.

The Fed is almost certain to cut interest rates by 25 basis points, the third reduction this year. It will do so despite positive developments in six areas that Fed officials have repeatedly cited as reasons for concern and for prior policy stimulus: 1) a relative improvement in the outlook for the domestic economy, attributable in part to a de-escalation of trade tensions between China and the US. 2) record levels for US equity indexes.

Chile. . .

continued from A6

Outgoing cousin PIÑERA appointed Gonzalo Blumel as interior minister and Ignacio Briones as finance minister.

Briones is dean of the school of government at Universidad Adolfo Ibañez. He has a PhD in political economy from Institut d´Etudes Politiques de Paris and was a senior adviser to the finance minister during Piñera’s first term in office.

“I have a very positive opinion of Briones as an academic and an expert in public policy, but he doesn’t have much experience in the political arena and this may eventually show,” said Tomas Izquierdo, an economist and chief executive

3) a steepening of the US Treasury yield curve in the context of higher market yields and less talk of a US recession.

4) a weaker dollar.

5) a rebound in housing (one of the most sensitive sectors to Fed policy).

6) lower likelihood of a disorderly Brexit.

Instead, the Fed will justify the rate cut by citing continuing concerns about the fragile international economic environment and the lack of definitive resolution to policy uncertainties. It is less likely to acknowledge another factor that I believe may also be driving the policy decision, and especially so after the sobering experience of the market disruptions of the fourth quarter of 2018—that is, its hesitation to disappoint markets that, today, have already priced in not only an October cut, but also one to two more in the next year or so.

That combination is also why Jerome Powell, the Fed chairman, will officer of research firm Gemines Consultores.

Today’s firings also included Andres Chadwick, the interior minister and Economy Minister Juan Andres Fontaine.

Chadwick was a particular source of anger because of the violent suppression of the protests and the fact he is Piñera’s cousin. His replacement, Blumel, 41, was until now minister of the presidency, coordinating the passing of government bills with Congress.

Fontaine was another target of protesters after remarking that to avoid the higher subway prices, people should just get up earlier to take the subway at nonpeak hours.

A study earlier this year showed that Santiago residents face commutes as long as two hours.

try to deliver a very nuanced message at the press conference that follows the release of the Federal Open Market Committee’s (FOMC) policy decision.

While refraining from a clear and explicit commitment to further rate cuts, he is likely to go out of his way to reassure markets that the Fed stands ready to act should economic or policy prospects deteriorate. He will also seek to deflect attention from the unusually prolonged efforts to decisively stabilize the wholesale bank funding market.

His hope in all this is to keep his policy options open in what is an unusually uncertain economic, financial and policy environment. The risk in this approach is that he could come across as hostage to a “muddled middle” that lacks strategic anchoring and effectiveness. Attempting to strike a balance is also likely to expose the Fed to continued criticism from many sides, including those who feel that the Fed should be doing more to support the economy and, on the other side, those who worry that additional policy stimulus will only increase the risk of future financial instability.

To be more decisive, strategic and successful, the central bank’s policy actions need to be part of a much more comprehensive package that ends uncertainties about the global trade regime, implements additional pro-growth measures (including a well-targeted program to rehabilitate and modernize productivity-enhancing infrastructure),

and improves global policy coordination. This requires the cooperation of several government entities, both in the US and abroad, most of which remain stymied by political issues.

The problem is even worse elsewhere in the advanced world, especially for the European Central Bank (ECB), whose president, Mario Draghi, will be succeeded this week

by Christine Lagarde.

Having been pushed ever deeper into unconventional policies, including negative interest rates and quantitative easing that is increasingly being referred to as “QE infinity,” the ECB finds it increasingly difficult to do more, rightly fearing that the costs and risks of further policy stimulus could well outweigh the benefits. At the same time, it feels unable to unwind its distortionary policy interventions, worried that this would disrupt economic activity. Its current compromise position doesn’t help either, amplifying loud internal divisions and undermining its external credibility.

Central bank policy announcements continue to attract a lot of attention even though too many years of them being the “only game in town” policy-wise have materially reduced their ability to change the economy for the better. This week’s FOMC meeting will be no exception, highlighting deepening dilemmas and even greater dependence on other government entities which, unfortunately, have yet to step up to their policy responsibilities.

Mounting anger

Democrats party. “Piñera’s government just can’t get a grasp of the citizens’ demands.”

The extent of the protests shows the challenge facing Piñera’s centerright government. Piñera initially tackled the violence as a law-andorder matter, stating the country was at war with criminals. That only made things worse. He then apologized for failing to recognize genuine grievances and announced measures including raising taxes for high-income earners and lifting basic pensions.

While more than 600 supermarkets have been looted, the occurrence of serious violence has slowed. Losses for Chile’s retail sector due to looting and lost sales reached $1.4 billion since the protests began, according to the Santiago Chamber of Commerce.

THE firings are unlikely to quell mounting anger over how Piñera has dealt with the protests. More than 1,000 people have been injured and over 3,000 arrested, according to the Chilean Human Rights Institute. Police and the armed forces between them are responsible for five deaths for which it is bringing homicide charges, the institute said on October 22.

Protests resumed in front of the government’s Moneda palace after the announcement, according to images on TV. “Chileans have been marching against Piñera’s agenda and the new interior minister is precisely the person that was in charge of pushing that agenda,” said Yasna Provoste, a senator for the opposition Christian

A8

Wednesday, October 30, 2019

A BusinessMirror Special Feature

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DE LA SALLE MEDICAL AND HEALTH SCIENCES INSTITUTE MARKS 25 YEARS OF RESEARCH EXCELLENCE

International research partners share and transfer technology for various medical research projects at DLSMHSI.

DR. Frias monitors a pedia TB patient who is a participant in one of many clinical trials of medicines for children with TB. DLSMHSI Angelo King Medical Research Center

F

for Improved MDR-TB Treatment for Children (BENEFIT Kids) project, it aims to develop child-friendly treatments and regimens that will stop TB from developing into an active disease among children.

By Stephanie Joy Ching

OR many years, the Angelo King Medical Research Center at De La Salle Medical and Health Sciences Institute (DLSMHSI) has been a pillar of excellence in the field of research. Inaugurated in 1994, it prides itself on being “a home for like-minded individuals to promote research,” said Vice Chancellor Dr. Charles Yu.

It has earned many recognitions both locally and abroad as a research center that is committed to providing consistent quality service “for the welfare of the people of Cavite, the country and global community in general.” They are best known in the medical world as one of the major researcher centers that is into new ways of treating tuberculosis. DLSMHSI is the only Clinical Research Site (CRS) in the Philippines that is recognized by the AIDS Clinical Trial Group (ACTG) of the US – National Institutes of Health’s National Institute of Allergy and Infectious Diseases (NIAID).

As a CRS, it is under the Emory University-Center for Disease Control Clinical Trial Unit in Atlanta, Georgia.

DLSMHSI is also at the forefront of the pursuit of the public health research agenda of the Philippine Council for Health Research and Development (PCHRD) of DOST, with the Center conducting the most number of clinical trials in the country. It is also the host of Region IV’s Health Research and Development Consortium, with one of its lead researchers, Dr. Melchor Frias as convenor. These regional consortiums have been developed

by PCHRD to rally research and educational institutions around the country in supporting its public health research agenda.

Now turning 25 years old, this research center aims to further uplift the lives of every

Filipino through their medical and health research projects.

Herbal Medicines for Charity

ONE of the first units established here is the Center for Indigenous Medicine, which aims to establish validated scientific evidence on the effectiveness of alternative medicine. Further, they are also looking into the use of herbal and marine products, such as local plants and shells as medicine.

One of the papers they had published deals with the use of the akapulco plant to treat scabies or galis. As of now, one of the most promising projects of the center is an anti-dengue drug.

A seven-year-long endeavor by Dr. Rita Alvero, the drug is made of a blend of three plants that are common in the Philippines. It has recently entered Phase 1 of safety testing, and they hope it will be available commercially by 2021 to 2022. Should the drug hit the market, Dr. Yu expressed that they will be placing the proceeds in their charity funds. As they serve one of the largest number of patients in the region, they aim to build a one-hundred-bed facility for charity patients in their De La Salle University Medical Center as soon as the drug becomes marketable.

Filling in the gaps in TB medication

THE center is working on developing more convenient methods of TB medication, along with expanding the focus of the medication.

Support from abroad

Dr. Charles Y. Yu (R) with Prof. Dr. Bertie Squire of the UK’s Liverpool School of Tropical Medicine. They are joined by Dr. Jovilla Abong (L) during a lecture by Prof. Squire where he shared significant findings from the TB-FIT study, a collaboration with Dr. Yu.

According to Dr. Yu, normal TB treatments take about 20 to 24 months to take effect, and often have adverse, even fatal, side effects. It is also very inconvenient, as it requires the patient to go to facilities every day for their directly-observed treatment, more commonly known as DOTS. Recommended by the World Health Organization, DOTS remains to be the most effective way of stopping the spread of TB in the community.

In order to make treatment more convenient, the Center is collaborating with international partners and sponsors such as the US-NIH, National University of Singapore, Liverpool School of Tropical Medicine in the United Kingdom, Otsuka Pharmaceuticals, and Unitaid, among others, to develop new and more efficient forms of treatment for tuberculosis. One of these is the Video Observed Therapy (VOT), which allows the patient to take their medications at home, provided that they film themselves with a phone camera.

The video is then encrypted and uploaded into a server where the doctors can document the patient’s progress.

Another project they are doing is called COACH, which is more community-based. This involves the training of Kagabays

and local barangay health workers to become treatment partners in the communities.

“It’s much the same way as DOT (Directly Observed Therapy), but off-facility,” said Dr. Melchor Victor G. Frias, one of the investigators of this study and the former Vice Chancellor for Research here at DLSMHSI.

Breaking through Pediatric TB

DR. FRIAS is also conducting multiple researches in the field of Pediatric Tuberculosis, some of which have become the basis of current WHO guidelines in the treatment of tuberculosis in children.

According to him, the current challenge for managing TB in children, especially if they have multi-drug resistant tuberculosis (MDRTB), lies in the fact that the drugs have not been studied among children, thus the dosage of the drugs are usually based on results from studies or clinical trials involving adult patients.

This is problematic because “the doses are not really designed for children, so you really don’t definitively know whether they are effective or not for children.”

To address this gap in TB research, clinical trials of the TB drug Delamanid was conducted in 2013 to establish the proper dosages of the drug

in children with MDRTB. This groundbreaking study involved four countries – Russia, South Africa, Uganda, and the Philippines. The Philippine study was conducted here at DLSMHSI, with Dr. Frias as principal investigator. Through a six month period of administering the drug, followed by two years of observation, the researchers were able to establish the appropriate and exact dosage and frequency of the drug for children. This protocol is now included in the current guidelines of the WHO in treating adolescents with MDRTB.

In 2016, another groundbreaking study was spearheaded by Dr. Frias here at DLSMHSI involving a new drug by another developer to address another gap in the management of tuberculosis in children.

Recently, DLSMHSI was also chosen as the Philippines partner of another multi-country study that involves various partners.

Funded by Unitaid, the study will be spearheaded by South Africas’s Stellenbosch University, in partnership with TB Alliance, University of California San Francisco, De La Salle Medical and Health Sciences Institute, Johns Hopkins University, BJ Medical College, Uppsala University and Chiang Mai University. Called the Better Evidence and Formulations

WITH the rising number of multi-drug resistant tuberculosis cases, doctors around the world are working harder to control the disease. Fortunately for DLSMHSI, the United States National Institutes of Health (US-NIH), has chosen them to be a partner and a trial site for an international, multi-center study. Called “Protecting Household Contacts on Exposure to Newly Diagnosed Index Multi-Drug Resistant Tuberculosis Patients”, or Phoenix MDRTB, the study aims to prevent other members of the household from contracting the disease. The project is headed by Dr. Frias.

“.. Hindi ito naka-concentrate sa mga taong may sakit. Itong project na ito ay naka-focus sa mga nakatira sa bahay ng mga may sakit,” said Dr. Yu.

According to Dr. Melchor Frias, expanding the focus to “household contacts” is important because they are at a much higher risk of contracting the disease. Moreover, there is significant growth in the number of multi-drug resistant tuberculosis cases in the Philippines. This is a more severe form of TB, making Filipinos more at risk than ever before.

Likewise there are also projects studying gadgets and novel combinations of drugs that aim to augment TB treatment effectiveness.

These collaborations will not only help eradicate TB, but has also cemented the Research Center’s reputation as a “center of excellence in research,” said Dr. Yu.

The Centers under the Angelo King Medical Research Center nThe Center for Biopharmaceutical Research nThe Center for Tuberculosis Research nThe Center for Complementary and Integrative Medicine nThe Center for Basic Biomedical Research nThe Center for Clinical Epidemiology and Biostatistics nThe Center for Allied Health Sciences Research.

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MR. XING YAN/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHIDE YANG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. YANPING DENG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. CHANGZENG ZHAN/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIANGWEI WANG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JUNYI LU/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. JIAYAO ZHANG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. XIAOJIE WANG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. GUOWEI WANG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. JIA TIAN/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YONG WANG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. RONGNAN JIANG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. LEI ZHAO/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

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Chinese Customer Service Representative

TSUCHIYA KOGYO (PHILS.), INC. LISP III, Santo Tomas, Batangas

MR. MASAAKI SANO/ Japanese

Plant Manager

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIZHU CHEN/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YULONG CHENG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. BIAO TAO/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. TENGLONG CHU/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. LIN JIANG/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. HUAKAI JI/ Chinese

Chinese Customer Service Representative

SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. CHUNLIN YUAN/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. ZHIJUN GUAN/ Chinese

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. BIAO CHEN/ Chinese

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. QIANG WANG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIANGFENG QIAO/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. XING LI/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. LISHA HU/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. LIDONG DENG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIAN ZHANG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. YUE HAN/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. PEI-LIN LIAO/ Taiwanese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JINHUA MENG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. GUOHUI KONG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. CHAOQUN GONG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MR. JIAHUI TANG/ Chinese

Chinese Customer Service Representative

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SMART WIN TECHNOLOGY, INC. 4-12F Southwoods Tower 2, Biñan City, Laguna

MS. SHUANG LUO/ Chinese

Chinese Customer Service Representative

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Banking&Finance BusinessMirror

A28 Wednesday, October 30, 2019

WB prods PHL on use of tech to expand financial inclusion

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By Jove Moya

@BMJoveMoya

HE World Bank is prodding the Philippines to use innovations like digital technology to expand financial inclusion in the country.

According to World Bank President David Malpass, the country’s robust economy offers many opportunities for the government to use technology in empowering Filipinos.

Malpass commended the Philippines’s efforts to kick-start its digitalization program with the passage of a National Identification (ID) law that aims to unify and streamline an identification system for all Filipino citizens.

He said the use of new technologies, particularly digital currency and remittances, “can open new avenues” for marginalized sectors to participate in the economy. This, he added, is why the World Bank is now studying how these innovations can directly benefit people while encouraging them to avail themselves of state-provided social services, such

as health care.

“This is an opportunity because you have so many things going on where you can reguide the program,” Malpass said.

The Department of Finance (DOF) said it welcomes Malpass’s support for digitalization as a way to expand financial inclusion in developing economies.

A statement from the DOF said it informed the World Bank that the Philippine government has long been implementing a conditional cash transfer (CCT) program, in which the lowest-income households in the country receive cash grants on condition that they fulfill certain conditions, such as ensuring that their children go to school or that pregnant mothers get regular medical checkups.

MALPASS

The DOF said the CCT program “has worked pretty well” because of the assistance extended by the World Bank and the Asian Development Bank to the government.

The DOF believes that the passage of a National ID law, which will be implemented on a pilot basis starting the first quarter of next year, will significantly improve the delivery of the CCT program.

According to WB Country Director for the Philippines Mara Warwick, the multilateral institution is providing technical assistance to the Philippines for the rollout of its National ID system.

The DOF said it was during a

meeting when Victoria Kwakwa, World Bank’s regional vice president for East Asia and the Pacific Region, informed the DOF chief of the institution’s new policy that supports the Philippines’s reform initiatives in enhancing its fiscal stability, global competitiveness and economic resilience.

Finance Secretary Carlos G. Dominguez III supposedly told Kwakwa that the World Bank can assist and can help the new Bangsamoro Autonomous Region in Muslim Mindanao set up its government and adopt the best practices of other independent political entities in other parts of the world that have successfully set up and effectively run their regional governments.

Dominguez was said to have suggested that the World Bank modify its timeline in coming up with its Country Partnership Framework (CPF) with the Philippines so that the institution’s assistance strategy would be in sync with the entry of each new administration starting in 2022.

The current CPF will last until 2024.

However, Dominguez was quoted as saying in the statement this must be cut short to 2023, so that a new administration elected in 2022, would have enough time to propose and implement new projects with the World Bank.

Growth in earning assets, trading gains lift UnionBank’s bottomline at end-Sept

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HE Union Bank of the Philippines (UnionBank) announced recently it recorded a net income of P8.5 billion in the first nine months of 2019, up 40 percent yearon-year (YoY).

The higher net income was primarily driven by robust revenues coming from the sustained double-digit growth in earning assets, as well as strong trading gains for the year. The bank said its earnings result translated

to above-industry return on equity (ROE) of 12.6 percent.

The bank said it registered P685.8 billion in total assets as of end-September 2019, compared to P643 billion in the same period last year. Total loans were at P346.3 billion, up 10 percent YoY buoyed up by the parent bank’s credit-card business (+37 percent YoY), consumer loans (+31 percent YoY), small-scale and medium-scale enterprise banking (+42 percent YoY), and

commercial lending (+13 percent YoY).

“Net income for the year was boosted by strong trading gains, as well as improvement in our margins,” Jose Emmanuel U. Hilado, UnionBank treasurer and CFO said. “Net interest margin in 3Q2019 increased by 100bps compared to its low during the start of the year. Additionally, consumer and middle-market loans sustained healthy growths.”

“UnionBankers did very well in

the first nine months of 2019. Our digital transformation plans are ahead of schedule. We recorded solid growth across the different business segments. CitySavings also stabilized —delivering around P15.0 billion in salary loan releases and 9,000 motorcycle units during the third quarter.

We are fortunate that the substantial improvement in margins and trading gains from favorable market conditions have converged.”

www.businessmirror.com.ph

DOF supports Senate bid to hike alcohol excise tax

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HE Department of Finance (DOF) on Tuesday expressed its support on higher alcohol excise tax as forwarded by Senate Ways and Means Committee Chairman Pilar Juliana S. Cayetano.

The DOF said Cayetano’s proposal is “well-studied,” and called for the bill’s swift approval in the Senate. Cayetano’s Senate Bill 1074 proposes a 10-percent increase in taxes for alcohol products starting 2023.

According to the solon, a significantly higher increase in the excise tax on alcohol products would be the “singular, reasonable and patriotic conclusion” of the extensive committee hearings conducted by the Senate tax panel after members “listened to various stakeholders, questioned and analyzed relevant information provided by resource persons and experts, in both the private and public sectors.”

Cayetano has blamed alcohol consumption for road accidents.

“Wonderful lives are cut short because of people who drink and drive. We often hear about innocent people dying from road crashes—someone who was once a father, a mother, a child, or a friend,” the lawmaker said.

“In seconds, their lives are forever changed or wasted because a drunk person foolishly decided to take the wheel and drive.”

Cayetano added that “55 percent of the injured patients” treated in the PGH emergency room “have alcohol on their breath.

[About] 25 percent of these injured patients are blood alcohol content positive.”

In the Philippines, there is a national law against drunk driving. Republic Act (RA) 10586 penalizes people who are caught driving under the influence of alcohol.

The Metropolitan Manila Development Authority has said last

year that budgetary constraints impede the agency’s implementation of RA 10586 or the AntiDrunk and Drugged Driving Act of 2013. The MMDA said has only more than 40 alcohol breath analyzers for the agency’s 2,000 personnel deployed in Edsa.

Cayetano also cited the adverse health impacts of alcoholism.

“Alcoholism is associated with at least 39 main diseases, including liver cirrhosis, cancer, pancreatic disease, hypertensive disease, tuberculosis, diabetes, and even behavioral and psychotic disorders.

Finance Undersecretary Karl Kendrick T. Chua of the DOF’s Strategy, Economics and Results Group said they “will continue to extend the necessary technical assistance to help [Cayetano] preserve the rates in the Senate Ways and Means Committee’s well-studied committee report, as plenary deliberations resume, hopefully as soon as the Senate comes back in session.”

“We are one with the Senator in her push for significantly higher rates in alcohol excise taxes. Her analysis is correct that beyond the personal health costs, the socioeconomic costs of alcohol need to be mitigated,” Chua said. “The massive economic costs of alcohol abuse justify significantly higher rates. For behavior to change meaningfully, the tax rates have to be high enough.”

Preliminary estimates from the DOF indicate that alcohol may have an economic cost of as much as 1.7 percent of gross domestic product every year, equivalent to about a third of the country’s annual health expenditure.

SB 1074 was in the period of interpellation when the Congress took a break in October. The Senate and the House of Representatives will resume session on November 4. Jove Moya

www.businessmirror.com.ph

Companies BusinessMirror

Wednesday, October 30, 2019

B1

Meralco facing fresh hurdles in power-supply deals via CSP

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By Lenie Lectura

@llectura

HE Manila Electric Co. (Meralco) faces yet again another hurdle in securing power-supply deals.

“What we have to clarify,” according to Meralco President Ray Espinosa, is the fact that “what is being regulated by the DOE [Department of Energy] is the process.”

There is need to clarify as well that “the CSP [competitive selection process] has to follow certain guidelines to ensure it is transparent, it is truly competitive and basically attain its objective of securing supply at the least cost,” Espinosa said, when asked how the utility firm will move forward if the DOE will not approve the terms of the power-supply contract.

Meralco could not proceed to rebid via CSP its power supply contract involving 1,200-megawatts (MW) of greenfield capacity without the green light of the DOE. The first auction was declared a failure after only one

bidder participated.

Energy Secretary Alfonso G. Cusi has been vocal in saying that he wants more power generation firms to participate in the bid so consumers are assured of affordable and stable electricity.

As such, Cusi said his office would provide inputs upon submission of the bidding terms by Meralco. It has been two weeks since Meralco sent to the DOE the terms of reference (TOR).

One of the suggestions raised by the DOE is to allow existing and old plants to join the CSP instead of allowing only new power plant to supply Meralco.

Espinosa said Meralco had considered this, but the utility firm decided “to proceed on the basis of what we have set out originally, which is to differentiate the

brownfield from the greenfield.”

He was explaining that there are financial and economic differences between brownfield and greenfield plants. He also explained that power-supply agreements (PSAs) that are awarded to these types of plants vary and differ in financial and economic terms.

“It will be difficult for us to move to a situation where a greenfield capacity that we need to ensure reliable and affordable supply will eventually be open to older and preexisting plants that will crowd out investors or power generators who want to build new plants.

“It would simply be very difficult for them to compete. There is no discrimination against the existing and old plants.

“We cannot just have a situtation where the existing plants and brownfield plants also compete for the greenfield capacity,” Espinosa elaborated.

The DOE also wants to allow bidders to bid for small chunks instead of the full 1,200 MW capacity.

For example, one winner can supply 200 MW out of the 1,200 M W and another w inner for 1,000 MW.

The DOE proposal is similar to the two power deals that were also conducted via CSP. However, Espinosa said the so-called stacking and pay as bid method suggested by the DOE for greenfield plants “goes against the grain of what we’re trying to achieve, which is energy security through reliable and affordable power.”

He added: “And it also goes against the grain of our own power development plan that we have been submitting to the government for the past administrations, including this administration.”

Meralco, he said, has carefully studied the DOE’s suggestions.

The agency will receive a formal reply from Meralco soon.

“Our intention,” Espinosa said, is to explain to the DOE the need “to maintain this dichotomy because it’s only in this dichotomy” that incentives are provided to build new plants.

“We feel that our position is reasonable and that we basically have the basis upon which to go for a second round of CSP for the 1,200 MW,” Espinosa said.

Spain’s Repsol submits bid for Palawan petroleum exploration

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EPSOL Exploracion SA (Repsol) of Spain has submitted a bid to explore petroleum reserves in Northeast Palawan.

According to the Department of Energy (DOE), Repsol Nominated Area 4 in Northeast Palawan under the Philippine Conventional Energy Contracting Program (PCECP) of the agency.

“We actively welcome all PCECP applications, as each one has the potential to bring us closer to desire to maximize the exploration, development and utilization of our indigenous energy resources to help us attain energy security and independence,” Energy Secretary Alfonso G. Cusi said.

Nominated Area 4 was applied for by Repsol, and was the only company that

submitted the application requirements.

Further to the technical, legal, and financial “completeness check” from Tuesday’s opening activity, which Repsol passed, the agency will further conduct a substantive evaluation of Repsol’s proposal within 15 working days.

PCECP was established to help reinvigorate petroleum exploration and development activities in the Philippines.

The PCECP Department Circular (2017-120017) was signed on December 27, 2017, and the acceptance of nominations began on February 7, 2018. Meanwhile, the first batch of predetermined areas was launched on November 22, 2018. Lenie Lectura

Sta. Maria stays as PAL president, but steps down from PAL Holdings

By Lorenz S. Marasigan @lorenzmarasigan

and Recto L. Mercene @rectomercene

G

ILBERT STA. MARIA, who joined legacy carrier Philippine Airlines (PAL) in mid-2019, remains as the president of Philippine Airlines Inc., but has stepped down from his post as chief of airline holding firm PAL Holdings Inc. He resigned due to “personal reasons,” according to a disclosure to the stock exchange. Lucio Tan Jr., son and namesake of the tycoon, replaced him as president of the holding company.

PAL Spokesman Cielo Villaluna said Sta. Maria also maintained his position as the chief operating officer of the legacy carrier.

“At PAL’s regular monthly board meeting held October 28, 2019, Sta. Maria presented his 90-day report on PAL and his turnaround plan for the airline for implementation beginning this coming year 2020,” she said. His presentation was “well received by members of the board and Chairman Lucio Tan,” PAL said. The airline added that PAL has issued the statement to clarify several queries on the state of affairs at the national flag carrier.

Sta. Maria joined the Filipino flag carrier in late July, and vowed to work toward improving the profitability of the company, which for the past two years, has been in the red due to several factors, but mainly about fuel costs.

He replaced Jaime J. Bautista, who worked at PAL for 26 years.

Tan’s sister, Vivienne, is head of audit at PAL.

B2

Wednesday, October 30, 2019

Companies BusinessMirror

Hong Kong-listed Suncity invests in Andrew Tan-led Suntrust Home

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By VG Cabuag

@villygc

ONG KONG-LISTED Suncity Group Holdings Ltd. has taken majority ownership of Andrew Tan-led Suntrust Home Developers Inc., a company that anchors its current business on property management of residential and office buildings.

Suntrust announced at its annual stockholders’ meeting that it has taken in the investment of Suncity’s wholly-owned unit Fortune Noble Ltd. and transformed the company into a tourism and gambling-related concern.

“I am happy to announce that we have a new investor. Some of you have been waiting long for this. This investor now owns 51 percent of the company, “ Ferdinand B. Masi, the company’s chairman and president, said at the stockholders meeting.

Suntrust, in its disclosure, announced that it is increasing its authorized capital stock to P23 billion

from its existing level of P3 billion.

Its shares were suspended for trading on Tuesday.

About 5 billion common shares will be subscribed by Fortune Noble Ltd. and Megaworld.

Of the said new shares, some 2.55 billion shares will be bought by Suncity unit, 2.17 billion shares by Megaworld and the 272.83 million shares by Aurora.

Suncity also acquired some of Tan’s shares in Suntrust held

by Townsquare Development Inc. and First Centro Inc. “Post the capital hike, Fortune Noble will continue to own and

maintain its majority controlling interest in Suntrust, while Megaworld will have at least a 34-percent stake, it said.

Megaworld’s previous ownership in Suntrust is around 42.48 percent.

Suntrust believes that the tourism sector, which has seen significant growth in recent years, will continue to show sustainable growth and attract more investments. Suntrust is also optimistic that with the support of its shareholders, it will be able to drive more growth for the company and contribute to the tourism industry, it said.

The Suntrust board also entered into a co-development agreement with Westside City Resorts World Inc., the $2-billion integrated casino and resort owned by Tan located at the Entertainment City. Other developers inside the property are Malaysia’s Genting Resorts, which was supposed to be the Westside’s casino’s operator, Megaworld and Tan’s gambling arm Travellers International Hotel Group Inc. Suntrust, along with Suncity, will develop Westside’s main hotel and casino “and Westside is to appoint Suntrust as the sole and exclusive

operator and manager of the Main Hotel Casino on the principal terms and conditions are set out in this announcement,” Suncity said in its separate disclosure in Hong Kong Stock Exchange. It is not known what will happen with Tan’s deal with Malaysia’s Genting.

The company, in its separate disclosure, said it may also conduct fund-raising activities for tourismrelated businesses that it will venture into, either through debt or equity or a combination or variation of both, such as issuance of common shares to third parties at par value, or issuance of convertible bonds, with conversion price that is at premium to par value of not more than 20 percent.

Suncity group is known to have extensive experience in the leisure and entertainment business, and is actively seeking investment opportunities in integrated resort projects worldwide, including Cambodia, Philippines, Myanmar, South Korea, Japan, Russia and Vietnam. Besides investments in integrated resorts, the Suncity Group is also engaged in integrated resort consultancy services, as well as travel-related products and services.

Latest iPhone, Apple smartwatch now at Power Mac Center

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PPLE’S highly-anticipated iPhone 11 has finally arrived in the Philippines as Power Mac Center (PMC) officially released its three models alongside a new smart watch in a midnight launch party held at its flagship store in Greenbelt 3, Makati City.

A throng of people from different parts of Metro Manila came in droves and waited for the evening sale, with the boys of Perea Street serving as game masters of interactive activities for their entertainment while getting the chance to win special prizes, such as Powerbeats Pro, AirPods, BeatsX, and P5,000-worth of PMC gift cheques.

Up to P25,000 worth of premium accessory bundles from partner brands also awaited each of the first 200 customers in line.

When the doors opened, PMC ambassadors Bea Alonzo, Enchong Dee, Iya Villania, Bianca King, Marc Nelson, Kobe Paras, Wil Dasovich, Jeron Teng, and Jeric Teng welcomed them to the store.

“We are grateful to our patrons who have spent several hours in queue to be among the first owners of iPhone 11 in the country,” said Joey Alvarez, director of product management, marketing and space planning at PMC. “Every year, Power Mac Center launches new iPhone and Apple Watch models and we are always met with loyal customers, so we strive to reward them with only the best deals and service every time, in return for their unwavering support,” he added.

The latest iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max feature a triple-camera system with wide and ultra-wide lenses, all-day battery life, tough glass screen, and water resistance of up to four meters submersion for 30 minutes. Roderick L. Abad

MUTUAL FUNDS

October 29, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 255.45 5.93% -0.51% -0.08% 1.29% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.4912 8.76% 2.47% 0.08% 3.5% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.8808 3.66% -2.34% -1.91% -0.57% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9451 10.43% N.A. N.A. 4.89% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8641 8.71% N.A. N.A. 5.29% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4118 8.79% 1.07% 0.32% 2.63% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.871 9.45% -2.92% N.A. 4.1% MBG EQUITY INVESTMENT FUND, INC. -A 113.91 3.71% N.A. N.A. -1.94% PAMI EQUITY INDEX FUND, INC. -A 52.2115 11.76% 1.67% N.A. 6.07% PHILAM STRATEGIC GROWTH FUND, INC. -A 542.59 11.5% 0.59% 0.35% 5.41% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3126 8.92% 1.56% 1.51% 4.67% PHILEQUITY FUND, INC. -A 38.6346 10.14% 2.41% 1.47% 5.47% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,1 1.0357 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.309 13.02% 2.46% 2.37% 7.06% PHILIPPINE STOCK INDEX FUND CORP. -A 886.43 13.03% 2.37% 2.32% 7% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.8944 9.62% 0.4% N.A. 4% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.3 10.83% 2% 1.51% 5.94% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.018 12.56% 2.25% N.A. 6.68% UNITED FUND, INC. -A 3.7041 10.78% 3.57% 3.01% 5.81% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 118.8334 13.32% 3.12% 3.34% 7.3% ATRAM ASIAPLUS EQUITY FUND, INC. -B $0.9758 5.93% 2.81% -0.2% 5.03% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.3012 9.57% 7.92% N.A. 17.73% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.5953 -0.8% -3.18% -3.4% -3.39% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2618 5.1% -0.77% -0.33% 2.38% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6524 8.64% 1.45% -0.92% 4.3% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,5 0.2367 N.A. N.A. N.A. N.A. GREPALIFE BALANCED FUND CORPORATION -A 1.3486 6.05% N.A. N.A. 3.4% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.968 9.86% 1.83% 1.4% 6.78% PAMI HORIZON FUND, INC. -A 3.8119 12.87% 0.82% 0.67% 8.01% PHILAM FUND, INC. -A 17.0646 11.94% 0.84% 0.58% 7.27% SOLIDARITAS FUND, INC. -A 2.1519 7.43% 1.11% 1.46% 4% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.9047 10.28% 1.92% 1.16% 6.94% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,2 1.024 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,2 1.0116 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,2 1.0086 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9901 10.47% 1.43% 0.61% 7.42% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03821 10.18% 2.2% 2.11% 8.24% PAMI ASIA BALANCED FUND, INC. -A $0.9956 8.58% 2.37% 0.06% 8.96% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.7715 8.81% 5.84% 3.56% 13.99% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,7 $1.1078 7.41% 3.38% N.A. 10.23% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 355.51 4.14% 2.53% 2.28% 3.51% ATRAM CORPORATE BOND FUND, INC. -A 1.9223 3.43% 0.16% -0.04% 3.39% COCOLIFE FIXED INCOME FUND, INC. -A 3.0936 5% 5.23% 5.21% 3.95% EKKLESIA MUTUAL FUND INC. -A 2.2145 4.51% 1.84% 1.96% 4.01% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3438 5.97% 1.76% 1.53% 6.29% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6087 2.35% 0.09% -0.02% 2.83% PHILAM BOND FUND, INC. -A 4.3287 13.98% 1.59% 1.66% 10.43% PHILEQUITY PESO BOND FUND, INC. -A 3.7471 8.26% 2.62% 1.54% 6.54% SOLDIVO BOND FUND, INC. -A 0.9545 8.96% 0.52% N.A. 7.1% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.0467 10.68% 3.69% 2.49% 10.16% SUN LIFE PROSPERITY GS FUND, INC. -A 1.6851 10.15% 3.13% 2.07% 9.43% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $466.03 4.47% 2.07% 2.81% 3.93% ALFM EURO BOND FUND, INC. -A Є219.9 3.12% 1.28% 1.45% 3.4% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2027 7.33% 2.31% 2.53% 6.84% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 4.03% 1.06% 1.37% 4.03% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7117 1.28% -1.4% 0.27% 1.27% PAMI GLOBAL BOND FUND, INC -A $1.095 7% -0.05% -1.25% 5.66% PHILAM DOLLAR BOND FUND, INC. -A $2.3979 12.57% 2.08% 3.15% 10.46% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.060261 5.91% 2.05% 2.04% 5.72% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $3.166 10% 1.6% 2.67% 10.23% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 125.09 4.21% 2.7% 2.12% 3.48% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,3 1.0264 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2455 6.14% 2.48% 1.56% 5.38% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2582 3.87% 2.82% 2.24% 3.2% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0344 2.16% N.A. N.A. 1.82% A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - LAUNCH DATE IS JANUARY 3, 2019. 2 - LAUNCH DATE IS JANUARY 28, 2019. 3 - LAUNCH DATE IS FEBRUARY 1, 2019. 4 - LAUNCH DATE IS AUGUST 1, 2019.

5 - LAUNCH DATE IS SEPTEMBER 28, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.).

7 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST OCTOBER 9, 2019.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa. com.ph to see the latest NAVPS/NAVPU."

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

October 29, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG FILIPINO FUND MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

54 152.1 99.05 25.25 12.22 66 20.6 43.95 57.5 117.2 25.7 202.8 60.05 1.11 2.06 18.5 4.55 7.71 0.41 755.5 0.89 174 1870

55 152.5 99.1 25.35 12.26 66.3 21 44.4 57.95 130 25.8 204 60.1 1.18 2.07 18.6 4.57 8.49 0.435 770 0.93 175.5 1875

55.5 152 98.95 25.1 12.26 65.5 20.75 44.2 57.5 130 26 203.4 59.55 1.11 2.08 18.5 4.56 7.71 0.41 768 0.94 175.8 1865

55.5 153 99.35 25.4 12.36 67.25 20.75 44.2 57.5 130 26 205 60.1 1.11 2.08 18.5 4.57 7.71 0.41 768 0.94 176 1870

54 150.9 98.5 25.1 12.24 65.4 20.6 43.95 57.5 116.9 25.7 200.8 59.55 1.11 2.06 18.5 4.5 7.71 0.41 768 0.89 174 1865

55 152.1 99.05 25.35 12.26 66 20.6 43.95 57.5 116.9 25.8 204 60.1 1.11 2.08 18.5 4.55 7.71 0.41 768 0.89 174 1870

9740 1995860 1380080 197200 545900 4765400 2200 46300 100 30 2700 502100 18390 100000 32000 35500 233000 1700 30000 50 34000 340 360

536229.5 303477216 136706810.5 4976590 6697662 316722943.5 45470 2036030 5750 3638 69760 102033582 1104375 111000 66100 656750 1058810 13107 12300 38400 30310 59222 673175

INDUSTRIAL

-2179.5 89696287 89642777 -239670 -453414 144092561.5 -1701390 -36120 36927034 -1000140 40 -0 -

AC ENERGY ALSONS CONS ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE AXELUM CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT GINEBRA JOLLIBEE LIBERTY FLOUR MACAY HLDG MAXS GROUP PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP UNIV ROBINA VITARICH CONCRETE A CONCRETE B CEMEX HLDG DAVINCI CAPITAL EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC SFA SEMICON CIRTEK HLDG

2.79 1.29 38.7 0.242 25.6 79.1 345.8 19.92 5.01 4.1 10.8 33.8 7.31 12.88 3.68 15.16 5.41 8.53 6.99 90 0.67 47.7 229.6 48.1 8.77 13.2 1.71 11.2 1.86 5.39 151.5 1.27 65.35 70.2 2.51 5.8 15.14 10.28 14.34 17.7 9.3 1.08 1.12 112 2.09 5.11 3.5 5.36 30.8 2.32 7.91 1.46 5.12 0.99 7.9

2.8 1.3 39 0.249 25.7 79.45 346 20 5.04 4.28 10.98 33.85 7.35 12.9 3.69 15.18 5.53 8.55 7 91.5 0.68 48.4 229.8 50.95 8.9 13.3 1.73 11.48 1.87 5.4 152 1.28 68.8 75 2.52 6.14 15.38 10.3 14.6 17.76 9.39 1.11 1.13 120 2.12 5.24 3.54 5.4 31 2.33 7.95 1.49 5.78 1 7.91

2.8 1.3 38.7 0.243 25.15 79.1 358 19.96 5.03 4.3 11 33.7 7.39 12.88 3.74 15.26 5.53 8.53 7 92.15 0.68 48.8 223 43.05 8.72 13.18 1.7 11.22 1.85 5.4 148.6 1.3 68.9 76.7 2.46 6 15.18 10.3 14.6 17.84 9.35 1.12 1.12 112 2.13 5.24 3.5 5.4 32 2.32 7.96 1.46 5.79 1.01 8.1

2.85 1.31 39 0.249 25.85 80.75 362.6 20 5.04 4.3 11 33.9 7.39 14 3.8 15.26 5.53 8.59 7 93 0.69 49 229.8 53.95 9.33 13.4 1.74 11.24 1.86 5.42 153.7 1.3 68.9 76.7 2.53 6 15.2 10.34 14.6 17.84 9.39 1.12 1.14 112 2.14 5.24 3.54 5.4 32 2.34 7.97 1.54 5.79 1.01 8.2

2.75 1.29 38.6 0.241 25.1 79 344 19.8 4.98 4.1 11 33.6 7.33 12.36 3.6 15.1 5.41 8.52 6.99 90 0.67 47.6 223 43.05 8.72 13.14 1.67 11.2 1.83 5.35 147 1.27 68.9 70 2.38 6 15.1 10.3 14.22 17.5 9.35 1.06 1.12 112 2.1 5.24 3.4 5.36 31 2.27 7.9 1.43 5.12 1 7.91

2.79 1.29 39 0.249 25.6 79.1 346 19.92 5.04 4.28 11 33.85 7.33 12.9 3.69 15.18 5.41 8.53 7 90 0.68 48.45 229.8 50.95 9.14 13.2 1.73 11.2 1.86 5.4 151.5 1.27 68.9 75.85 2.52 6 15.14 10.3 14.6 17.76 9.39 1.11 1.12 112 2.1 5.24 3.54 5.36 31 2.33 7.91 1.49 5.12 1 7.91

6527000 241000 978200 210000 833500 26340 504760 568900 1262400 22000 100 578700 37400 912100 9673000 144900 3200 844700 245000 324450 642000 10100 834110 1310 1800 114500 1699000 316800 184000 196300 1827020 11620000 100 260 14056000 10000 92500 403100 228700 802400 11000 84000 597000 70 413000 3000 33000 108600 9500 5996000 164400 770000 300 16000 267900

18301460 312410 38127305 50780 21380680 2082264.5 176233038 11311050 6313325 90630 1100 19590545 274466 12122824 35665030 2199002 17570 7208791 1713804 29799039.5 432400 492625 189081270 62194 15839 1510948 2884740 3548470 340930 1060305 277158527 14901770 6890 18929.5 34454760 60000 1400962 4151934 3315524 14193716 102990 90800 671650 7840 873960 15720 114730 586360 299660 13880280 1301953 1127670 1670 16010 2147998

-42450 -124010 16506850 3463120 -1052430 -41395016 -10865268 -950741 8769830 -1916966 545040 -1361012 -6510 -1145666 -1122739 510808 322320 37240088 1126570 677420 -3363570 -46092320 -2552470 14208000 1041864 -4109704 -13122 -8663284 -68820 -75660 631510 363091 -449253.9997

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FJ PRINCE A GT CAPITAL JG SUMMIT KEPPEL HLDG A KEPPEL HLDG B LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME MEDIA REPUBLIC GLASS SOLID GROUP SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES WELLEX INDUS ZEUS HLDG

0.83 13.12 864.5 54.8 11.94 3.65 6.88 0.71 1.12 1.13 6.87 8.14 13.12 3.83 884 75.45 5.3 5.7 0.49 4.31 13.1 0.57 4.78 0.037 1.41 2.79 1.27 1020 172.6 0.85 0.217 0.221

0.85 13.48 865 55 11.96 3.66 6.89 0.72 1.13 1.15 6.88 8.16 13.4 4.24 888 76.1 5.69 6.89 0.51 4.32 13.3 0.59 4.79 0.039 1.42 2.91 1.3 1027 173.9 0.86 0.226 0.225

0.86 13.48 866 54.7 11.6 3.56 6.88 0.72 1.12 1.13 6.8 8.18 13.38 4.29 867 75 5.48 5.92 0.51 4.32 13.4 0.6 4.88 0.038 1.42 2.81 1.27 1016 168.6 0.87 0.218 0.223

0.87 13.64 867.5 55 11.96 3.68 6.89 0.73 1.13 1.13 6.9 8.24 13.4 4.29 888 76.1 6.13 7.04 0.51 4.32 13.4 0.6 4.88 0.038 1.44 2.81 1.27 1029 174 0.87 0.218 0.225

0.83 13.12 861 54.55 11.58 3.46 6.88 0.7 1.11 1.13 6.8 8.12 13.38 4.25 866 74.25 5.48 5.9 0.49 4.3 13.1 0.58 4.78 0.037 1.42 2.8 1.27 1010 167 0.86 0.217 0.22

0.85 13.5 865 55 11.96 3.66 6.89 0.72 1.12 1.13 6.87 8.14 13.4 4.25 888 76.1 5.83 5.9 0.51 4.31 13.1 0.6 4.79 0.038 1.42 2.8 1.27 1027 172.6 0.86 0.217 0.225

20013000 6700 206290 618710 21391600 41735000 10600 520000 453000 112000 1224800 14472300 200 6000 59110 1415590 12500 201600 39000 282000 6019200 23000 39957000 3800000 229000 5000 30000 1155345 256250 46000 330000 560000

16813850 90492 178397075 34010911 252477992 146284070 73033 369460 507610 126560 8394627 118232767 2678 25660 52142380 107024226 70348 1412961 19420 1215270 79694236 13520 191845570 144100 327510 14030 38100 1182029810 43948911 39760 71890 124000

594880 -46517825 20073058.5 3243908 -514870 -67799.9999 2814302 -68507031 18910380 61491840.5 99490 17644892 8119.9999 -40752610 -45400 -21450 60549515 4032938 -

HOLDING & FRIMS

PROPERTY

ARTHALAND CORP 0.85 0.87 0.85 0.89 0.85 0.88 827000 711720 -880 ANCHOR LAND 9.23 10.04 9.21 9.22 9.2 9.22 4500 41453 AYALA LAND 48.85 49 48.8 49 48.5 49 5701900 278558625 47747280 ARANETA PROP 1.71 1.77 1.79 1.8 1.71 1.72 214000 367770 BELLE CORP 1.99 2 2 2 1.99 2 188000 375780 A BROWN 0.81 0.82 0.81 0.83 0.81 0.82 728000 590990 CITYLAND DEVT 0.84 0.87 0.84 0.84 0.84 0.84 40000 33600 CROWN EQUITIES 0.201 0.208 0.208 0.208 0.2 0.2 270000 54160 -42160 CEB LANDMASTERS 4.51 4.55 4.52 4.6 4.49 4.55 79000 357730 -41350 CENTURY PROP 0.58 0.59 0.58 0.59 0.57 0.59 8416000 4885350 -11810 CYBER BAY 0.46 0.47 0.48 0.48 0.46 0.47 3180000 1489350 DOUBLEDRAGON 20.3 20.35 20.55 20.6 20.3 20.35 181200 3695830 335555 DM WENCESLAO 10.2 10.3 10.22 10.44 10 10.2 142100 1457280 1183936 EMPIRE EAST 0.495 0.5 0.51 0.56 0.495 0.5 46000000 24157300 -2251400 FILINVEST LAND 1.6 1.61 1.6 1.6 1.59 1.6 6613000 10570400 -7950700 GLOBAL ESTATE 1.26 1.27 1.25 1.26 1.25 1.26 206000 258580 8990 HLDG 14.62 14.64 14.62 14.62 14.62 14.62 48800 713456 PHIL INFRADEV 1.5 1.51 1.61 1.66 1.5 1.5 19350000 30635900 -1194580 KEPPEL PROP 4.49 4.5 4.5 4.5 4.5 4.5 154000 693000 CITY AND LAND 0.73 0.75 0.75 0.75 0.75 0.75 2000 1500 MEGAWORLD 4.83 4.84 4.88 4.88 4.8 4.84 22179000 107325080 -31553500 MRC ALLIED 0.29 0.295 0.29 0.295 0.285 0.295 2810000 816000 PHIL ESTATES 0.405 0.43 0.405 0.43 0.405 0.405 60000 24600 PRIMEX CORP 2.02 2.03 2.02 2.04 2.01 2.03 144000 290940 20200 ROBINSONS LAND 25.75 25.8 25.9 26.2 25.8 25.8 4257100 110073860 39574180 PHIL REALTY 0.375 0.38 0.375 0.375 0.375 0.375 110000 41250 ROCKWELL 2.29 2.3 2.29 2.29 2.26 2.29 16000 36500 SHANG PROP 3.24 3.28 3.28 3.28 3.25 3.25 6000 19530 STA LUCIA LAND 2.64 2.65 2.65 2.66 2.64 2.65 438000 1159310 SM PRIME HLDG 38.7 39 38.1 39 38.1 39 4463700 173220380 81328460 VISTAMALLS 5.32 5.6 5.64 5.64 5.6 5.6 4400 24750 VISTA LAND 7.66 7.68 7.68 7.7 7.66 7.68 3432100 26341945 -19873201

SERVICES ABS CBN 18.62 18.98 18.6 18.98 18.54 18.98 343700 6454554 GMA NETWORK 5.23 5.25 5.22 5.26 5.22 5.26 31300 163593 MANILA BULLETIN 0.405 0.42 0.405 0.405 0.405 0.405 20000 8100 GLOBE TELECOM 1840 1850 1865 1865 1843 1850 80240 148582860 -3819485 PLDT 1099 1100 1093 1118 1093 1100 106285 116997865 -11373565 APOLLO GLOBAL 0.04 0.043 0.042 0.043 0.042 0.043 2300000 98600 DFNN INC 5.3 5.99 5.5 5.5 5.5 5.5 40000 220000 ISLAND INFO 0.107 0.11 0.108 0.11 0.108 0.11 40000 4360 ISM COMM 4.74 4.75 4.81 4.83 4.72 4.75 3511000 16719660 299050 JACKSTONES 2.38 2.49 2.4 2.4 2.39 2.39 10000 23950 NOW CORP 3.33 3.34 3.34 3.42 3.28 3.34 7437000 25036570 -408790 TRANSPACIFIC BR 0.315 0.32 0.32 0.325 0.315 0.32 2240000 712100 PHILWEB 3 3.01 3.06 3.06 2.99 3.01 516000 1551740 -159120 2GO GROUP 10.6 10.7 11 11 10.32 10.7 9600 102242 1040 ASIAN TERMINALS 17.42 17.8 18.96 18.96 18.96 18.96 100 1896 CHELSEA 6.73 6.74 6.75 6.75 6.69 6.73 481600 3231461 -104723 CEBU AIR 93 93.2 93.2 93.7 93 93.2 62290 5800896.5 -3801065.5 INTL CONTAINER 122.7 123 123.4 123.4 120 123 1083980 132639790 8871964 LBC EXPRESS 13.54 14.72 14.84 14.84 14.82 14.82 800 11870 LORENZO SHIPPNG 0.92 0.94 0.94 0.94 0.94 0.94 1000 940 MACROASIA 18.76 18.78 18.84 18.84 18.76 18.78 98400 1847676 -666406 METROALLIANCE A 1.07 1.15 1.08 1.1 1.08 1.1 2000 2180 PAL HLDG 7.9 8.24 7.91 7.91 7.9 7.9 3400 26872 HARBOR STAR 1.57 1.58 1.56 1.6 1.56 1.57 474000 744280 ACESITE HOTEL 1.6 1.64 1.52 1.64 1.52 1.64 218000 345710 GRAND PLAZA 10.08 11.88 11 11.92 11 11.92 1100 12192 WATERFRONT 0.66 0.67 0.66 0.68 0.66 0.66 700000 468890 CENTRO ESCOLAR 6.91 7.02 6.91 6.91 6.91 6.91 200 1382 FAR EASTERN U 910 925 910 925 910 925 250 230300 STI HLDG 0.68 0.69 0.68 0.69 0.67 0.69 3185000 2143660 -1394430 BERJAYA 2.33 2.39 2.38 2.38 2.33 2.38 332000 774410 BLOOMBERRY 10.1 10.12 10.16 10.3 10.12 10.12 2542600 25881814 -14240226 PACIFIC ONLINE 2.73 2.78 2.76 2.78 2.73 2.73 60000 164650 -27300 LEISURE AND RES 2.97 3 2.98 2.98 2.97 2.97 179000 532300 8940 MANILA JOCKEY 3.35 3.4 3.4 3.4 3.4 3.4 57000 193800 PH RESORTS GRP 4.88 5.12 5.17 5.19 5.17 5.19 1000 5172 PREMIUM LEISURE 0.68 0.69 0.69 0.69 0.67 0.69 258000 175830 -11560 ALLHOME 11.48 11.5 11.5 11.5 11.46 11.5 15895200 182609724 -22174942 METRO RETAIL 2.42 2.45 2.4 2.46 2.36 2.45 312000 747000 PUREGOLD 40.1 40.15 40.95 41 40 40.1 193500 7755905 1267175 ROBINSONS RTL 77.05 77.1 78.75 78.75 77.1 77.1 438710 33832000.5 -6593415.5 PHIL SEVEN CORP 144 144.5 141.5 144 141.5 144 5300 758577 642752 SSI GROUP 2.62 2.63 2.56 2.64 2.55 2.62 660000 1719460 685590 WILCON DEPOT 16.58 17 16.78 17 16.52 17 881100 14,911,522( 1,177,782.0003) APC GROUP 0.49 0.495 0.5 0.51 0.48 0.49 8986000 4436195 172000 EASYCALL 9.05 9.1 9.05 9.19 9.05 9.05 30600 277509 GOLDEN BRIA 429 439.6 426 465 424.6 430 43050 19095494 IPM HLDG 3.86 5.22 3.61 3.86 3.61 3.86 3000 11330 PRMIERE HORIZON 0.485 0.49 0.46 0.495 0.46 0.49 9610000 4622450 -136100 SBS PHIL CORP 9.29 9.32 9.29 9.29 9.29 9.29 1900 17651

MINING & OIL ATOK 12 12.98 12.3 12.98 12 12.98 20300 247134 APEX MINING 1.15 1.16 1.13 1.17 1.13 1.16 4170000 4793650 -814619.9998 ABRA MINING 0.0017 0.0018 0.0017 0.0018 0.0017 0.0017 152000000 258600 ATLAS MINING 2.6 2.67 2.6 2.68 2.6 2.6 150000 390320 -286000 CENTURY PEAK 2.57 2.6 2.57 2.58 2.57 2.58 313000 804510 DIZON MINES 7.67 7.82 7.68 7.82 7.68 7.82 1400 10869 FERRONICKEL 1.74 1.75 1.7 1.76 1.7 1.74 20206000 35062450 -1003760 GEOGRACE 0.205 0.21 0.21 0.214 0.205 0.205 690000 142820 LEPANTO A 0.105 0.107 0.107 0.107 0.105 0.105 280000 29680 MANILA MINING A 0.009 0.0091 0.0091 0.0091 0.0091 0.0091 5000000 45500 MARCVENTURES 1.19 1.21 1.17 1.21 1.17 1.2 845000 1011510 NIHAO 1.05 1.07 1.05 1.07 1.04 1.07 153000 161680 NICKEL ASIA 4.08 4.09 4.15 4.33 4.06 4.08 36540000 153224230 -39129620 ORNTL PENINSULA 0.85 0.88 0.87 0.88 0.87 0.88 390000 342300 PX MINING 3.57 3.58 3.58 3.6 3.57 3.58 152000 545830 SEMIRARA MINING 23.2 23.35 23.6 23.6 23.1 23.35 1527100 35485990 -4046125 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.012 0.012 4000000 48000 PHILODRILL 0.01 0.011 0.011 0.011 0.011 0.011 24000000 264000 PHINMA PETRO 10.6 10.64 10.22 10.78 10.1 10.64 562700 5901680 -44236 PXP ENERGY 13.56 13.58 13.08 13.72 13.06 13.58 5510400 74204650 -3390700

PREFFERED

HOUSE PREF A 98.15 99.6 99.5 99.65 99.5 99.65 5500 548019 SMC FB PREF 2 991 998 991 991 991 991 50 49550 FGEN PREF G 107.9 109.4 109.4 109.4 109.4 109.4 870 95178 GLO PREF P 501 505 501 501 501 501 100 50100 LR PREF 1 1.01 1 1 1 1 200000 200000 MWIDE PREF 100.9 101 101 101 101 101 900 90900 PNX PREF 3B 106.5 108 108 108 108 108 1010 109080 PCOR PREF 2B 1006 1037 1006 1006 1006 1006 100 100600 PCOR PREF 3A 1050 1052 1050 1050 1050 1050 9690 10174500 SMC PREF 2D 75 75.7 75 75.05 75 75 1053200 78991929 SMC PREF 2E 75.1 75.8 75.1 75.1 75.1 75.1 810000 60831000 SMC PREF 2G 75.3 75.5 75.25 75.6 75.25 75.6 6000 452700 SMC PREF 2H 75.1 75.8 75.2 75.2 75.1 75.1 66700 5009415 SMC PREF 2I 75.7 76.6 76.6 76.6 76.6 76.6 1010 77366 -21448

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

17.78 5.04

18 5.14

17.8 5.04

17.8 5.15

17.74 5.04

17.78 5.04

146700 1500

2608780 7601

WARRANTS LR WARRANT

1.52

-2407976 -

1.58

1.58

1.58

1.5

1.58

29000

45180

-

ITALPINAS 6.59 KEPWEALTH 11.24 XURPAS 0.93

6.6 11.26 0.94

6.65 11.06 0.9

6.72 11.3 0.95

6.54 10.82 0.89

6.59 11.24 0.94

597100 416800 5198000

3992417 4600778 4782160

1155116 34000 -

FIRST METRO ETF

119.8

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 119.7

118.6

119.7

118.6

119.7

12360

1473528

9466

Companies BusinessMirror

www.businessmirror.com.ph

Wednesday, October 30, 2019

B3

4 conglomerates keen on Sangley airport bid

I

By Lorenz S. Marasigan

@lorenzmarasigan

NTERESTED parties for the contract to develop the current Sangley Airport into an international gateway has attracted at least six parties, a local government official said on Tuesday.

Cavite Governor Juanito Victor Remulla said some of the interested parties are Metro Pacific Investments Corp., the SM Group, the DM Consunji Group, the Ayala Group, and a Chinese construction company, adding that there are several others.

The contract, he said, involves the construction of the airport, which is estimated at roughly $10 billion, including the land and airside components and reclamation.

“There will be no more Swiss Challenge for this because this is a pure

local endeavor,” he said.

Bid submission is slated for end-November, and the winning bidder is expected to break ground for the project by the first quarter of 2020.

The Cavite government originally submitted this project as an unsolicited proposal to the Department of Transportation (DOTr), but the complexity of its nature, and the huge costs of construction pushed the city to tap private-sector expertise for it.

“The government procedures for construction are very difficult.

Even though we say that we are the one doing construction, just to go through the bidding process is very tedious. The national government thoroughly checks everything. So we prefer that the private corporation does it,” Remulla explained.

Under the deal, the winning bidder will build an airport complex on a 1,400-hectare property in Sangley. The air hub will have four runways and a terminal capacity of

100 million passengers per year.

“The operations and maintenance bidding will happen after we awarded the building or the contract for the airport corporation,” Remulla explained. “If they submit their design or if they agree with the design, then they can bid for the operation and maintenance.”

Tuesday also saw the transport department conducting a “dry run” of the Sangley Airport, which is currently being expanded by the government.

SBMA takes back 240 has of land undeveloped by Subic theme park Google faces charges for misleading Australian users on location data

A

S

UBIC BAY FREEPORT—Three teams from the Subic Bay Metropolitan Authority (SBMA) swooped down on separate areas at the Ilanin Forest here on Monday to repossess more than 240 hectares of land that remained undeveloped since its lease to the Subic Bay Marine Exploratorium Inc. (SBMEI) 12 years ago.

The teams padlocked 22 former ammunition bunkers, warehouses and other US Navy-era structures, and closed off access to certain areas within the 505-hectare property under lease and management agreement with SBMEI, the operator of popular tourism facilities Ocean Adventure, Camayan Beach Resort and Adventure Beach Waterpark here.

The repossessed portions of the SBMEI lease consisted of Area B, which measures 92 hectares; Area C, 97 hectares; and Area E, 51 hectares,

or a total of 240 hectares.

SBMA Chairman and Administrator Wilma T. Eisma in a press briefing here on Monday night said the takeover of the properties went on smoothly. However, members of the takeover teams reported that the facilities were in various states of disrepair, an indicator that the government-owned properties were not maintained through the years by the lessor.

The takeover teams said some of the bunkers were covered by dense undergrowth and were not easily located. In some areas, only piles of rubble remained where some structure should be, they added.

Still, Eisma thanked the SBMEI management for cooperating in the repossession despite it having filed a case against the SBMA on October 18, to thwart the implementation of the agency’s pretermination or-

der issued on September 27.

“I can only thank the SBMEI management for cooperating in the takeover, which proceeded smoothly and without any untoward incident,” Eisma said.

“We also welcome the filing by SBMEI of a case in court because this move brings us one step closer to the resolution of this problem. Whatever the final decision of the court will be, you can count on the SBMA to honor it,” she added.

Eisma also stressed on Monday that the takeover was precipitated

by SBMEI’s failure to fulfill development commitments.

“This is the overriding issue here—that for almost 20 years, the SBMEI failed to develop these areas to the detriment of the government,” she said. “The issue is much more than simply the P25 million that SBMEI owes us in back payments

for its payment scheme, nor the P7 million in current billing,” she added.

The SBMEI started operating the Ocean Adventure marine park project in 2002, but was later granted a 50-year lease starting January 2007, that covered 505 hectares, of which the firm has only developed a total of 11.6 hectares.

Eisma said that with hundreds of hectares of property remaining undeveloped, the government has been losing a huge amount in unrealized income, as well as in lost employment opportunities, because SBMEI is only required to pay SBMA gross revenue shares, which was 4 percent of its gross income.

“This means that if SBMEI was not earning any money from these undeveloped areas, then it didn’t have to pay SBMA anything.

So where is justice in that?” she added. Henry Empeño

USTRALIA’S consumer watchdog has sued Google and its local subsidiary, accusing the Alphabet Inc. company of misleading users in the way it gets permission to track their location.

At issue is Google’s Location History setting on Android mobile devices. The way Google represents it to users would lead them to believe that turning the feature off would be enough to stop the company from storing their location data, the Australian Competition and Consumer Commission alleges in its lawsuit. But users in fact needed to switch off “Web & App Activity” tracking to truly block storage of location data, it said in its filing. “ We a l lege t h at Goog le misled consumers by staying silent about the fact that another setting also had to be switched off,” said ACCC Chair Rod Sims in the statement announcing the action. A Google spokesman did not immediately respond to a request for comment.

Google said it would defend the matter. The company is reviewing the allegations and will continue to engage with the ACCC, a spokesperson said.

Google’s privacy controls have drawn criticism in the past and the company has taken steps to centralize and make them more transparent. Even so, options remain fragmented across multiple

settings. Google’s smartphone services store users’ locations even when privacy settings are adjusted to shut these features off, according to a report by the Associated Press that was confirmed by Princeton University researchers. Google said at the time that Location History is entirely opt-in but—even if it’s disabled—the company will continue to use location to improve user experience in search or navigation, for instance.

The period addressed by the complaint in Australia’s Federal Court spans from January 2017 until late 2018, and there’s a supplementary issue raised relating to the second half of 2018. The ACCC’s additional allegation is that Google misled consumers into thinking that “the only way they could prevent Google from collecting, keeping and using their location data was to stop using certain Google services, including Google Search and Google Maps.”

That hid the fact, it argued, that disabling location tracking could in truth “be achieved by switching off both ‘Location History’ and ‘Web & App Activity’.”

The ACCC seeks penalties and the setup of a compliance program for future activities, among other measures. The watchdog now has the power to levy penalties as high as 10% of revenue, Sims told reporters.

Bloomberg News

B4

Wednesday, October 30, 2019

The World BusinessMirror

China’s monetary policy hamstrung by inflation

C

HINA’S room to ease monetary policy to aid the slowing economy is being increasingly limited by price rises due to the ongoing swine fever epidemic, economists said.

Analysts from Nomura International Ltd. and Changjiang Securities Co. warned that surging consumer inflation has become a major constraint on the People’s Bank of China (PBOC), and the likelihood for major monetary easing in the coming months has declined. That’s despite increasing evidence that economic growth will drop below 6 percent next year.

“With surging pork prices, continued spill over effects to other food prices, and the risk of a wage-

price spiral, we believe the PBOC may become more reluctant to deliver any high-profile monetary easing in the coming quarters,” Lu Ting, chief China economist at Nomura in Hong Kong, wrote in a note.

Lu said he doesn’t expect any cuts to the interest rate on the medium-term lending facility or to the amount of money banks hold as reserves in the remaining months of 2019, revising a previous estimate that such cuts would

take place in the fourth quarter.

Consumer inf lation may keep rising as the production of pork will continue contracting but demand will pick up due to the upcoming Spring Festival holidays in January. That will make it harder for the government and central bank to add stimulus to help Chinese factories, who are facing higher tariffs, falling profits and prices.

The Communist Party’s Central Committee is meeting behind closed doors this week, and officials will take into account the range of economic policies available given the long list of challenges besides consumer price inflation: the downdraft from the trade war with the US, factory-price deflation and a fragile financial system.

Core inflation

THERE are few ex pectations, however, that a major shift away

W

ASHINGTON—A measure of hiring by US companies has fallen to a seven-year low and fewer employers are raising pay, a business survey found.

Just one-fifth of the economists surveyed by the National Association for Business Economics (Nabe) said their companies have added to their work forces in the past three months.

That is down from one-third in July. Job totals were unchanged at 69 percent of companies, up from 57 percent in July. A broad measure of job gains in the survey fell to its lowest level since October 2012.

The hiring slowdown comes as more

businesses are reporting slower growth of sales and profits. Business economists also expect the economy’s growth to slow in the coming year, partly because tariffs have raised prices and cut into sales for many firms.

“The US economy appears to be slowing, and respondents expect still slower growth over the next 12 months,” said Constance Hunter, Nabe president and chief economist at the accounting firm KPMG. Hiring may also be slowing because the unemployment rate is at a 50-year low of 3.5 percent, and many companies are struggling to find enough workers.

The survey found that 43 percent of

companies reported shortages of skilled workers, though that figure has declined for three straight surveys. Government data shows that companies are posting fewer available jobs, suggesting that demand for labor is weakening, as well as supply.

Perhaps, because of concerns over a weakening economy, businesses are less likely to offer higher pay, even with unemployment at a 50-year low. Just one-third of economists said their firms had lifted pay in the past three months, down from more than half a year ago.

Companies are also cutting back on their investments in machiner y, computers and other equipment. The

OIL HOLDS LOSS AS RUSSIA THROWS COLD WATER ON DEEPER OPEC+ CUTS

O

from the current targeted, limited stimulus policy is on the cards.

Excluding food and energy prices, China’s core inflation is on a downward trajectory this year, indicating tepid domestic demand as the economy slows. However, the overall inflation, not core inflation, is the “most watched” price index for policy-makers, because the former is related to people’s lives, according to George Wu, chief economist at Changjiang Securities and also a former official in the PBOC’s monetary policy department.

“Looking forward, macro policies will tilt toward a pro-growth bias. However, monetary policy isn’t the only counter-cyclical measure,” Wu wrote in a note on Monday. “Combined use of fiscal and foreign-exchange policies can be expected. Historically in China, price shocks combined with monetary stimulus have been the cause of a price spiral.” Bloomberg News

SURVEY: U.S. BUSINESS HIRING HITS SEVEN-YEAR LOW AMID SLOW SALES propor tion of firms increasing their spending on such goods is at its lowest level in five years, the sur vey found.

Sales are also growing more slowly.

Just 39 percent of economists said they rose in the past three months, down from 61 percent a year earlier. And only 38 percent said they expect sales to rise in the next three months, also down from 61 percent a year ago.

Many business economists blamed President Trump’s tariffs on steel, aluminum, and on most imports from China for worsening business conditions.

Thirty-five percent said the duties have hurt their companies, while just 7 percent said they had a positive effect. AP

Editor: Angel R. Calso · www.businessmirror.com.ph

IL held below $56 a barrel after Russia said it’s too early to talk about deeper output cuts, casting doubt on the ability of Organization of Petroleum Exporting Countries (Opec) and its allies to balance supply against a worsening demand outlook.

Futures in New York edged lower after dropping 1.5 percent on Monday. While the Opec+ mechanism has shown its efficiency, it’s not infinitely efficient as there are still limits on how much each country can do, Russian Deputy Energy Minister Pavel Sorokin said in an interview with the Tass news agency. Meanwhile, Genscape Inc. said oil stored at a key Oklahoma storage hub expanded last week, reviving concerns over sluggish demand and ample inventories.

While crude is heading for its best month since June, it’s still down around 16 percent since late April as the US-China trade war weighs on demand and American production keeps rising. Asian stocks rallied on Tuesday on optimism Washington and Beijing are getting closer to a deal, but it’s unclear if a partial agreement that doesn’t roll back existing tariffs will have much impact on oil demand.

“Russia’s comments signal that there hasn’t yet been an agreed consensus within the Opec+ coalition on making deeper cuts,” said Will Sungchil Yun, a commodities analyst at HI Investment & Futures Corp. in Seoul. “ This, combined with market expec tations that US crude

stockpiles rose last week, will keep oil from pushing higher.”

West Texas Intermediate ( W TI) for December delivery fell 13 cents, or 0.2 percent, to $55.68 a barrel on the New York Mercantile Exchange as of 11:08 a.m. in Singapore. The contract dropped 85 cents on Monday, the first decline in five sessions.

It’s up 3 percent so far this month.

Brent for December settlement declined 5 cents to $61.52 a barrel on the Londonbased ICE Futures Europe Exchange after closing 0.7 percent lower on Monday. The global benchmark crude traded at a $5.82 premium to WTI. It’s also necessar y to monitor how US crude production develops at current prices, Russia’s Sorokin told Tass. American output has stayed at a record high of 12.6 million barrels a day over the past three weeks, according to the Energy Information Administration (EIA) data.

The Opec will need to announce a further 500,000 barrels a day of output reductions at its December meeting to keep Brent prices from falling below $60 a barrel, Sanford C. Bernstein & Co. said in a note.

Crude inventories at Cushing, Oklahoma, rose by 1.5 million barrels last week, according to data-provider Genscape. If confirmed by the official EIA figures due Wednesday, that would be a fourth straight week of gains at the US storage hub.

Bloomberg News

E.U. DELAYS BREXIT TO JAN. 31; JOHNSON ELECTION BID FAILS

L

ONDON‚—Britain got Brexit breathing space but no clarity on Monday when the European Union granted a three-month delay to the UK’s departure from the bloc, postponing it until January 31.

British politicians immediately began using the extra time to do what they have done for more than three years: bicker about Brexit.

Prime Minister Boris Johnson pushed for an early election as a way of breaking the political deadlock over the country’s stalled departure from the EU, only to be rebuffed by lawmakers.

Legislators voted by 299-70 for Johnson’s motion to hold a December 12 election—short of the two-thirds majority of the 650 members of Parliament needed for it to pass.

Still, an election appears inevitable well before the next scheduled one in 2022 if Britain is to move on from the stasis caused by a prime minister who vowed to deliver Brexit “do or die” and a Parliament that has repeatedly thwarted him.

Johnson said he would try again on Tuesday, using a different procedure: a bill, which only needs a simple majority to pass.

“We will not allow this paralysis to continue, and one way or another we must proceed straight to an election,” Johnson said.

Earlier, he had accused his opponents of betraying voters’ decision to leave the EU by thwarting the government’s Brexit plans.

He said that unless there was an election, the government would be “like Charlie Brown, endlessly running up to kick the ball only to have Parliament whisk it away.”

“We cannot continue with this endless delay.”

Yet, further delay stretched ahead after the EU agreed to postpone Brexit until January 31, acting to avert a chaotic UK departure just three days before Britain was due to become the first country ever to leave the 28-nation bloc.

After a short meeting of diplomats in Brussels, European Council President Donald Tusk tweeted that the EU’s 27 other countries would accept the UK’s request for a “flextension.” Under the terms of the agreement, the UK can leave before January 31—on December 1 or January 1—if the British and European parliaments both ratify a Brexit divorce agreement.

It’s the third time the Brexit deadline has been changed since British voters decided in a 2016 referendum to leave the bloc.

The decision was welcomed by politicians in the UK and the EU as a temporary respite from Brexit anxiety—but not by Johnson, who said just weeks ago that he would “rather be dead in a ditch” than postpone the UK’s leaving date past October 31.

In the end, the choice was not in his hands.

The UK Parliament forced Johnson to ask for a delay to avoid a no-deal Brexit, which would hurt the economies of both Britain and the EU. In a letter to Tusk, Johnson said that under UK law “I have no discretion to do anything other

than confirm the UK’s formal agreement to this extension.”

But he called the delay “unwanted” and said it was “imposed on this government against its will.”

Johnson urged the 27 other EU countries “to make clear that a further extension after 31 January is not possible.”

Johnson took office in July vowing to “get Brexit done” after his predecessor, Theresa May, resigned in defeat. Parliament had rejected her divorce deal with the bloc three times, and the EU had delayed Britain’s scheduled March 29 departure, first to April, and then to October.

Johnson has faced similar political gridlock, as Parliament blocked his attempt to push through his Brexit deal before the October deadline and made him ask the EU for more time.

Johnson hopes voters will give his Conservative Party a majority if there is an election, so that he can push through the divorce deal he struck with the EU and—finally—take Britain out of the bloc.

Opposition parties also want an election, though not on Johnson’s terms.

Kirsty Blackman of the Scottish National Party said her party favored a slightly earlier December 9 vote and “we will not be dancing to Boris Johnson’s tune on this.”

The main opposition Labour Party said it would study the government’s bill before deciding whether to back it.

“We look forward to a clear, definitive decision that no deal is absolutely off the table and there is no danger of this prime minister not sticking to his word,” said Labour leader Jeremy Corbyn.

There’s also a strong chance an election could produce a Parliament as divided over Brexit as the current one. All the political parties are worried about a backlash from grumpy voters asked to go to the polls at the darkest, coldest time of the year. Britain has not had a December election in almost a century.

European officials, meanwhile, urged Britain not to waste the extra Brexit time.

German government spokesman Steffen Seibert welcomed the Brexit delay, but cautioned Britain to “use the additional time productively.”

Guy Verhofstadt, head of the European Parliament’s Brexit group, wrote on Twitter that whatever Britain ultimately decides to do, “the uncertainty of Brexit has gone on for far too long.”

“This extra time must deliver a way forward.”

France had resisted another extension to Brexit, but European Affairs Minister Amelie de Montchalin said the prospect of a new election in Britain justified the new delay. Montchalin also said it was not too late for Britain to revoke Article 50 of the EU treaty and cancel Brexit, something that Johnson has vowed he will never do.

“The prime minister can pick up his phone and call Brussels to say: ‘I stop everything,’” she said. AP

ASTROS TARGET CROWN THE 36-year-old right-hander Justin Verlander will start Game Six at home for the Astros—seen here celebrating their Game Five victory—against the Nationals on Tuesday night. AP

By Howard Fendrich

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The Associated Press

ASHINGTON—George Springer shook his head at the mere mention of Houston Astros teammate Justin Verlander’s past October trouble, the only pitcher in baseball history to go 0-5 in the World Series.

“We wouldn’t be here without him,” Springer declared. “I don’t care what individual stats say.”

Then, as if to emphasize the point, the Astros outfielder repeated himself: “We wouldn’t be here without him. So I’m glad that we’re handing the ball to him. We’ll see what happens.”

Verlander will get a chance to make people forget his postseason struggles, including losses in win-and-advance games in this year’s American Division Series and Championship Series, if he can help Houston clinch a second championship in three years.

The 36-year-old right-hander will start Game Six at home against Stephen Strasburg and the Washington Nationals on Tuesday night.

“He’s prepared. He’s ready for this moment. We’ve been communicating back and forth throughout the whole series on how we were going to make an adjustment to what we were seeing and how we were going to attack,” said Gerrit Cole, Verlander’s rotation-mate and chief AL Cy Young Award competition this season.

“It’s going to be business as usual for him. He’s going to set the tone for us,” Cole said. “Hopefully we can back him up with some runs, and play some great ‘D.’” Cole gave up just one run in seven innings and struck

out nine as the Astros grabbed a 3-2 series lead Sunday night by beating the NL wild-card Nationals 7-1.

Springer, Carlos Correa and rookie Yordan Álvarez all delivered two-run homers—celebrated with elaborate handshakes and hearty hugs—for the team that led the majors with 107 wins in the regular season.

The hootin’ and hollerin’ carried on in the mini-cafeteria in the visiting clubhouse at Nationals Park.

It’s really been rousing to be on the road so far: only two other times in baseball history did the home team fail to win any of the first five games of a World Series.

The Nationals won the first two games in Houston by a combined score of 17-7, before the Astros switched everything around and took all three games in Washington by a total tally of 19-3.

The Nationals entered the weekend having won 18 of 20 games, which was the best streak the team had posted since moving from Montreal to Washington in 2005. Then they went 0-3 at home.

“We’re just going back there,” Nationals outfielder Juan Soto said, “trying to do the same thing we did before.”

Now comes Monday’s break in the best-of-seven series, before Houston asks Verlander to try to end the World Series.

“Our confidence is great. We believe he’s going to be at his best tomorrow,” Astros Manager AJ Hinch said Monday at Minute Maid Park. “He loves this big stage. He loves being relied upon.”

“I love that he’s going to own it. I think it’s also not going to overwhelm him,” he said. “I think this would be a nice little bullet point on a resume that’s headed toward Cooperstown.”

Verlander was among a handful of pitchers on the field after Hinch spoke, doing some light tossing. He was going to be throwing a lot harder when he tries to close out the Series.

Sports BusinessMirror

If he can’t, and there is a Game Seven on Wednesday, the Nationals will hope they can send out three-time Cy Young Award winner Max Scherzer, who was scratched just hours before Game Five because of a neck problem that left him unable to lift his throwing arm.

Scherzer said he was given a

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| Wednesday, October 30, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

cortisone shot and needed his wife’s help just to get dressed.

“This is just a little thing that turned into a big thing that turned into a giant thing,” he said. “I’m just hoping that the doctors are right and that something could be possible for Game Seven.”

There was no definite word for early Monday afternoon.

“Hopefully he’s a little bit better,” Manager Dave Martinez said before the team traveled to Texas in the late afternoon.

“My understanding is it takes about 24 hours for this injection to really work.”

Might not matter, of course.

On the other hand, Verlander has not been pitching up to the high standards he established while winning 225 games, collecting 2011 AL Cy Young and MVP honors, and earning eight All-Star selections.

After going 21-6 with a 2.58 ERA and 300 Ks during the regular season, this is what he’s done in five postseason starts in 2019: 1-3, 4.15 ERA, 35 strikeouts, 11 walks.

That includes a 12-3 loss in Game Two, also while facing Strasburg.

Five days later, Verlander gets another shot at the Nationals.

“We’ve got JV on the mound. A JV day is fun. I’ve been watching that guy pitch for a lot of years,” Astros reliever Joe Smith said. “He ain’t slowing down.”

Maybe so.

Still, it’s important to recall that two years ago, in another Game Six, Verlander could have sealed the Fall Classic against the Los Angeles Dodgers—and even had a sixth-inning lead, but Houston wound up losing 3-1. At least the Astros came back the next night to win Game Seven—and their first title.

Then, this October, Verlander got the ball on short rest for Game Four of the ALDS against the Tampa Bay Rays, but again couldn’t get the job done in a close-out game, giving up three runs in the first inning and losing 4-1. Once again, though, Houston won the next game to advance.

And in the ALCS against the New York Yankees, the same scenario played out: Up 3-1 in the series, Verlander got the start in Game Five, but he allowed four runs in the first inning of another 4-1 loss. Yet again, Houston won the next game to bail him out.

Strasburg, meanwhile, truly has been at his best this postseason, frequently relying on his seemingly unhittable changeup or his rightwhere-he-wants-it curveball as out pitches, rather than the high-90s mph fastball he thrived with in earlier times.

The 31-year-old righty enters Tuesday with a 4-0 record, 1.82 ERA, 40 strikeouts and just two walks in five appearances this month, four as a starter.

“We’ve got Justin Verlander on the mound, and that brings a lot of confidence to our clubhouse,” Hinch said.

“Their guy’s pretty good, too.”

Stadium boos at World Series a rarity for shielded president

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PRESIDENT Donald J. Trump (fifth from left), accompanied by first lady Melania Trump (third from left) and Republican lawmakers, reacts as the stadium boos when he is shown on the jumbo screen during a Salute to the Military during Game Five of the World Series at the Nationals Park in Washington on Sunday. AP

EW YORK—The boos were loud. And for President Donald J. Trump, they may have felt unfamiliar.

Trump was showered with jeers, boos and chants (as well as some cheers) when he attended a World Series game at Nationals Park in Washington on Sunday. It was a rare moment of in-your-face disapproval for a president whose White House goes out-of-the-way to shield him from protests and demonstrators.

Since taking office, Trump has rarely ventured out to places in his deeply Democratic adopted home city, or elsewhere that might feature high-volume hostility or a cold shoulder.

When the boos began as Trump’s image flashed on the ballpark’s giant video screen, the president seemed momentarily taken aback. He mouthed something to his wife, Melania Trump, while gamely trying to clap along. But his smile froze and then faded as the boos continued and some in the crowd launched into a brief chant of “Lock him up,” a version of the phrase chanted against Hillary Clinton at dozens of Trump rallies during the 2016 campaign.

White House officials tried to play down the negative feedback, which erupted when Trump’s image appeared on the giant video screen during a tribute to the military.

“I know that there were some people cheering, as well.

But, listen, it’s Washington, D.C. It’s a pretty liberal town,” White House Spokesman Hogan Gidley said Monday.

Though White House officials were prepared for jeers in a ballpark located in a city where only 4 percent of residents voted for Trump, some thought the president’s announcement hours earlier about the death of Islamic State leader Abu Bakr al-Baghdadi might temper some of the boos. That proved not to be the case, despite efforts to limit the heckling.

The presidential motorcade pulled into Nats Park a little after 8 p.m. allowing the president to slip inside the stadium while fans were focused on the start of the game and the ceremonial first pitch thrown by restaurateur and

humanitarian Jose Andres, a noted Trump critic. Trump took his seat in a luxury box with a sea of friendly faces, including Republican legislators.

It was Trump’s first baseball game since taking office and he attracted little attention from the crowd for the first few innings.

But at the end of third inning, as part of a salute to veterans, the Nationals honored some service members sitting near the president. Loud applause rang out until the camera panned over to Trump. On a dime, the cheers instantly turned to loud boos. And once the camera moved on to show more veterans, the cheers resumed.

Allies said the president should embrace the boos.

“I’d wear getting booed in the swamp as a badge of honor,” tweeted his oldest son, Donald Trump Jr. “If you’re pissing them off you’re doing something right!”

Unlike some of his predecessors, Trump has made little effort to join the Washington scene, with the singular exception of his visiting his hotel, a Republican-friendly oasis a few blocks from the White House. He has not eaten at a Washington restaurant beyond those in the hotel and has passed on attending some traditional social events, such as the Kennedy Center Honors and White House Correspondents’ Association dinner.

The White House has, at times, gone to significant lengths to keep Trump away from protesters, sometimes citing security concerns or a reluctance to snarl traffic as reasons to keep Trump away from hostile crowds.

During the presidential transition in late 2016, there was talk of Trump frequently returning to his home in Trump Tower while in office. But those plans were scrapped after it became apparent that Trump would face large, angry crowds in Manhattan.

In London this summer, Trump took repeated helicopter rides of just a few miles that kept him away from throngs of demonstrators, including a balloon that depicted the president as a baby. AP

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Wednesday, October 30, 2019

GSW BAGS 1ST VICTORY

Pactolerin dominates ‘Play with the Masters’ M ANY-TIME Philippine Masters champion Robert Pactolerin cashed in on his local knowledge of the Villamor Golf Club layout, shooting a three-under 69 and beating recent National pro-am winner Rey Pagunsan by three to rule the “Play with the Masters” golf tournament in Pasay City recently.

Tony Arevalo, Leonardo Sanchez and former Philippine Open winner Mario Manubay all carded 73s, while Domeng Umadhay made a 76 and Ernie Rellon, Luis Paraiso and Herman Umadhay scored identical 79s in the 18-hole tournament that featured some of the country’s leading seniors, and graced by a number of amateurs and golfing ladies from various sectors.

Danny Fortusa shot an 80, Mario Siodina and Abad Jorge carded identical 81s, and Bong Sanchez, Sonny Barbo and Arnaldo Gomez each made an 82 in a rare gathering of players who dominated the local tour during their prime.

The tournament, organized by the Senior Professional Golfers Association of the Philippines and backed by Ellesse, RMN Media and Marketing Ventures, Seven Echo, Serve Well, Lubestraders Corp., distributor of Shell Oil and GCAP Ventures Philippines, was also staged to raise funds for the training and upgrading of the senior pros’ teaching skills.

Sharing center stage were winners in various categories, including Paniong Bandoquillo (low gross-73); Jose Casanova (Regular Class A-net 70); Efrain Pedregoza (Class B-net 71); Andrew Pastoril (Class C-net 75); Freddie Po (Seniors Class A-net 71); Ding Kalinga (Class B-net 71); Manny Diaz (Class C-net 73); and Nora delos Santos, who made a net 71 to edge Glenda Da Roza, who scored a net 75, for the ladies crown.

Other fun-hole winners were Gene Sermonia (most accurate drive), Josel Casanova (longest drive), Pedregoza (nearest to the pin) and Choi Byung Man (longest putt).

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LA SALLE-ZOBEL UNSCATHED

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E LA Salle-Zobel clinched two victories over the weekend to march to its third straight win in the Women’s Basketball League (WBL) organized by the Basketball Efficiency and Scientific Training (BEST) Center.

The green squad swamped Immaculate Conception Academy, 88-14, on Saturday and on a Sunday took a 50-17 stroll past St. Pedro Poveda Academy.

Both wins lifted the squad to 3-0 won-lost and on top of the 13-Under category of the tournament sponsored by Milo and supported

by Rain or Shine, Chris Sports and SKLZ. Saint Paul College-Pasig stayed

within striking distance by scuttling Miriam College, 43-38, and bamboozling Immaculate Conception Academy, 46-17, to improve to 2-1.

Immaculate Conception made up for its poor showing in the 13-under when its 18-and-under squad clipped Saint Scholastica’s Academy-Marikina, 28-20—its second win in as many days that placed it abreast with Escuela de Sophia of Caloocan on top.

Escuela de Sophia needed two weekend victories to gain that share of the 18-U lead, though—a 55-7 crushing of Raises Academy and a 42-39 squeaker past Notre Dame of Greater Manila.

DRAYMOND GREEN has 16 points, 17 rebounds and 10 assists, leading the Warriors to a 134-123 victory over winless New Orleans on Monday night. AP

EW ORLEANS—Draymond Green turned in the all-court performance that the Golden State Warriors needed to secure their first victory of the season, and then said what he felt was necessary to preserve maximum humility and hunger in the locker room.

“We’re still not a very good team,” Green said.

Green had 16 points, 17 rebounds and 10 assists, leading the Warriors to a 134-123 victory over winless New Orleans on Monday night.

Stephen Curry had 26 points, 11 assists and three steals for Golden State, which dropped its first two games by 19 or more points before dominating a Pelicans squad that was missing three injured starters, including top overall draft choice Zion Williamson.

“We got to continue to compete at a high level.

The first two nights we didn’t do that. Tonight we did,” Green said, stressing the Warriors have seven players with three or fewer years of experience in the National Basketball Association (NBA). “As leaders of this team, we continue to try to bring it every night and give them something to follow and, you know, we’ll win some games.”

D’Angelo Russell added 24 points, and Damion Lee set career highs with 23 points and 11 rebounds.

Jamal Murray, meanwhile, scored four of his 18 points in the final 31 seconds, Gary Harris added a pair of late free throws and the Denver Nuggets held on after nearly blowing a big lead in the fourth quarter, beating the winless Sacramento Kings, 10194, also on Monday night.

The Nuggets (3-0) shook off a sluggish first half, took control in the third quarter with a stifling defense, then held off a late rally by the Kings to remain unbeaten.

Green’s lay-up with 5:07 left put the Warriors ahead 128-99 before the Pelicans made an inconsequential run to make the final score look more competitive than the bulk of the game was.

“We were never in the game,” Pelicans Coach Alvin Gentry said. “We never had any chance at all to win and I think that’s the most disturbing thing to me—especially playing at home.”

Brandon Ingram had 27 points and 10 rebounds for the Pelicans, who had not lost any of their first three games by more than seven points before being run out of their own building by the Curry and Co. The Pelicans were playing a second straight game without veteran guard Jrue Holiday, who has a sprained left knee, and also were without starting center Derrick Favors because of right knee soreness.

“We have enough guys in here where we feel like we can win basketball games,” Ingram said. “We won’t get discouraged at all.”

Harris scored 17 points as Denver won its fifth straight against Sacramento. Nikola Jokic had nine points on four-for-15 shooting with 13 rebounds, and Will Barton added 13 points and nine rebounds.

Richaun Holmes had 24 points and 12 rebounds for the Kings (0-4). De’Aaron Fox added 20 points and nine assists, and Harrison Barnes and Nemanja Bjelica each scored 12.

Denver led comfortably midway through the fourth quarter before Holmes scored five points as part of a 10-0 run that cut the Nuggets’ lead to 90-88.

Holmes later scored on a soaring one-handed dunk that made it 95-92, before Murray’s deep shot just inside the three-point line. After Barnes scored on a putback, Harris and Murray each hit two free throws. AP

orts

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Wednesday, October 30, 2019

Eala plans to turn professional at 14

Watanabe almost guaranteed of berth to Tokyo 2020 Games

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T a young age, Alex Eala already figured out what she wants to become— turn professional.

Starting next year, the 14-year-old Eala, No.13 in the world in singles, said she will start competing in the pro circuit to beef up her International Tennis Federation rankings.

“Yes I want to go pro, obviously it’s one of my goals so I think [starting next year] I will definitely be joining more pro tournaments,” Eala said.

The country’s most promising player graced Tuesday’s Philippine Sportswriters Association Forum at the Amelie Hotel along with her father Mike Eala one day before she flies back to Spain.

Eala is a scholar at Rafael Nadal Academy where she is at Grade 9 at the American International School in Mallorca.

The elder Eala did confirm her charming daughter is already eligible to turn pro.

“The minimum age of playing for professional tennis is 14 years old, and Alex turned 14 last May,” said Alex’s father. “Ang tricky part there is you have to reach a minimum number of points before you can get to the main draw of the [pro] tournaments.

“So the plan for Alex if she gets to the top 5 of the juniors, you get wild cards to play in the tournaments.

So this is more or less the thinking of how we can fast-tracked the rise in the tournaments . But definitely next year will be a good mix of junior tournaments and pro tournaments,” added the elder Eala during the session presented by San Miguel Corp., Braska Restaurant, Amelie Hotel, and the Philippine Amusement and Gaming Corp.

Ryniel Berlanga

Ateneo targets sweep of elims

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HAT seemed to be a plain “Battle of Katipunan” between Ateneo and University of the Philippines (UP) on Wednesday could rather be a glimpse of an impending championship rematch.

For third and fourth seeded teams Far Eastern University (FEU) and University of Santos Tomas (UST), the result of the Ateneo-UP game would open up the road toward their desire to make the Finals.

Wednesday’s University Athletic Association of the Philippines Season 82 men’s basketball games at the Mall of Asia Arena have no effect on the Final Four picture.

Lowly teams University of the East (3-10) and National University (2-11) battle at 10:30 a.m. each trying to end the season on a respectable note.

Already ran De La Salle University (6-7), which blew off a chance of advancing to the semifinals after losing to UP over the weekend, tackles Adamson University (6-7) at 12:30 p.m.

Anticipations are high though for the main match as the Blue Eagles (13-0) meet their neighbors, the Fighting Maroons (9-4), at 4 p.m.

Ateneo is on course to earn an outright Finals seat if it disposes UP. If that happens, the Maroons, Tamaraws and Growling Tigers engage in a knockout stepladder semifinals.

UST and FEU clash first, with the winner taking on UP next. The victor then battle the Eagles in the Finals.

If UP beats Ateneo, the Final Four will adopt its normal set up. Ramon Rafael Bonilla

Brahmans force ‘rubber’ against favored Sea Lions

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NIVERSITY of Batangas pulled off a shock 89-80 victory over second seeded Olivarez College Sea Lions to force a sudden death for the second finals berth in the PG Flex Linoleum-Universities and Colleges Basketball League at the Olivarez College gym in Sucat late Monday.

Don Tabol and Raoul Yemeli also provided the spunk from the line, drilling in four straight pressure-packed charities early in the fourth that stymied the Sea Lions’ fightback and the Brahmans held sway to the finish to pound out the victory and stay in the hunt for a title crack.

They clash again on November 4 with the winner facing early finalist and defending champion Diliman College for the crown. Matches are shown on a delayed basis on Solar Sports.

Unlike the Sea Lions, the top seeded Blue Dragons withstood the Centro Escolar University Scorpions’ furious challenge and hacked out a 64-63 decision in their side of the semis duel.

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ILIPINO-JAPANESE Kiyomi Watanabe is almost assured of qualifying for the Tokyo 2020 Olympic Games.

Philippine Judo Federation President Dave Carter said that only the top 26 judokas in the world in each weight class will qualify for Tokyo 2020, and Watanabe is currently ranked 23th in the women’s -63kilograms.

All Watanade has to do, according to Carter, is to join all remaining Olympic qualifying tournaments to maintain her ranking.

Carter said that Watanabe’s chance of directly qualifying for Tokyo 2020 is highly probable because several countries have more than one judoka in the top 26 of the women’s 63-kg division and each is allowed to field one entry per weight class in the Olympics.

Carter said that countries like Japan has four judokas in the top 26, while Great Britain has three. Other countries like the Netherlands, Slovenia, China and Brazil have more than one each.

Watanabe is competing in the Osaka World Championships next month just before the 30th Southeast Asian Games, the last Olympic qualifying for the year.

Watanabe is set to compete in three more qualifying tournaments next year just before the cut off in July.

Carter is confident of Watanabe’s chances of achieving her dream to compete in the Olympics, especially with the full support of the Philippine Sports Commission (PSC) in funding her training and international competition and setting up the Team Watanabe to back up her training with sports science experts.

“Slots for Tokyo 2020 are our bigger targets,” PSC Chairman William Ramirez said. “We are looking at more Filipino athletes qualifying in the Tokyo Games after gymnast Carlos Yulo and pole vaulter EJ Obiena.”

“But we should not forget that the SEA Games are also just around,” Ramirez added. “The PSC is all out in its support to the athletes for a better placing this time as we are hosting the biennial meet.”

Watanabe is eyeing her fourth gold medal in the 30th SEA Games. She clinched bronze at the age of 15 in the Palembang Games in 2011, then later dominated the next three editions.

Judo will be held from December 4 to 7, at the Laus Group Events Centre in San Fernando, Pampanga.

Carter is also confident the Philippine could bag six to seven golds out of the 16 events in the games.

The other five FIlipino-Japanese judokas competing in the SEA Games are Maria Takahasi, Heisei Nakano, Shugen Nakano, Shin Matsumura and Riyoko Salinas.

KIYOMI WATANABE battles Nami Nabekura in the women’s -63 kgs in last year’s Asian Games in Jakarta.

THAI LIFTERS BARRED FROM PHL SEA GAMES T

By Jun Lomibao

HE International Weightlifting Federation (IWF) barred Thailand from fielding weightlifters to the Philippine 30th Southeast Asian Games after the Thai federation indicated its desire to reverse a self-imposed suspension from the world body.

According to Samahang Weightlifting ng Pilipinas President Monico Puentevella, Thai Amateur Weightlifting Association (TAWA) wanted to field young lifters in the SEA Games—an Olympic qualifying event—from November 30 to December 4.

Aware of Thailand’s predicament, Puentevella said he wrote IWF President Dr. Tamas Ajan, asking the federation to turn

down the Thais’ request.

“Due to the doping problem caused by Thailand with the IWF and consequently, with the International Olympic Committee [IOC], may we kindly request for Thailand not to participate in the forthcoming SEA Games to be held here in Manila,” Puentevella said in his letter last October 24.

“We have received information that they have already submitted entries and this does not have our approval and we are the hosting association to run the Games,” he said. “Have they been granted this approval to join the qualifying rounds for the 2020 Tokyo Olympics, since the SEA Games is a silver level qualifying competition and they pledged to the IWF, not to participate even in the qualifiers.”

The IWF was quick to reply on Monday.

“Please be informed that TAWA signed a voluntarily and irrevocable undertaking and for this reason no athletes shall participate at any IWF events, including Qualification events and the 2020 Olympic Games,” Ajan said.

“Consequently no Thai athletes shall participate at the SEA Games.

“IWF executive board cannot change their undertaking and board did not grant any special permission, especially in this sensitive period when weightlifting is closely monitored by the IOC,” Ajan added.

Puentevella stressed that even if the Thais are present, they won’t be a threat to Olympic silver medalist and Asian Games gold medal winner Hidilyn Diaz.

“Hidilyn has been beating the Thais including in

WUSHU BETS GEAR UP FOR SEAG

TOP wushu bets Agatha Wong and Daniel Parantac want to train in their competition venue in earnest. ROY DOMINGO

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EMBERS of the national wushu team to the 30th Southeast Asian Games are hoping that they could familiarize themselves with their competition venue way Twice beaten by the Sea Lions in the eliminations, the Brahmans proved tougher, stronger the third time around, seizing control early, 24-19, and stretching their lead to nine, 53-44, at the break.

The hosts, however, came out an organized lot in the third, closing in on at 68-72 after three quarters and threatening within two thrice in the fourth, the last at 78-80, on a Jayboy Solis jumper.

But Tabol countered with three straight points and after Redel Fabro put Olivarez back in the game at 80-83 with 2:28 remaining in the contest, Jerrick Caspe stepped up and fired a jumper and Yemeli canned in another pair of charities then Torres and Caspe came up with a point each and the rest held the Sea Lions scoreless the rest of the way with their gritty defense.

Torres, Caspe and Yemeli finished with 16 points apiece while Mart de Ramos and Tabol scored 11 markers each to underscore the Brahmans’ solid offensive sock.

ahead of the 30th Southeast Asian Games.

Wushu will be played at the Philippine International Convention Center (PICC) from December 1 to 3 in the SEA Games the Philippines is hosting from November 30 to December 11.

Two-time SEA Games gold medalist Daniel Parantac said familiarity with the venue could spell the difference in their bid to deliver the gold.

“If we can train in the actual venue at least two weeks before the competition, it will be good for us. Actually, the earlier, the better,” he told Tuesday’s Philippine Sportswriters Association (PSA) Forum at the Amelie Hotel in Manila.

Parantac, who won gold medals in taolu in the 2013 and 2015 SEA Games and finished fourth in 2017, added that as host, Filipino wushu officials and athletes must seize the opportunity.

“If we train in the venue two or three days before the competition, that’s not enough.

We need to get used to the surface. There are

surfaces that are slippery and some are not,” said Parantac during the forum where he was joined by fellow wushu athlete Agatha Wong, the reigning SEA Games champion in taolu.

The Philippines will field 12 athletes in wushu, which offers 16 gold medals, in sanda and taolu events. To gear up for the competition, they underwent four months of training in China. They include Jessie Aligaga, Arnel Mandal, Carlos Baylon Jr., Francisco Solis, Clemente Tabugara Jr., Divine Wally and Jenifer Kilapio in sanda; and Thornton Sayan, Jones Inso and Johnzenth Gajo in taolu, aside from Parantac and Wong.

Wong, who is determined to keep her title, told the forum presented by San Miguel Corp., Braska Restaurant, Amelie Hotel and the Philippine Amusement and Gaming Corp., that the China training will serve them well.

“China has the resources that no one else

Ginebra targets 4th straight win vs struggling Elite in Govs Cup

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ARANGAY Ginebra shoots for its fourth consecutive win for a share of third spot when the Gin Kings take on the struggling Blackwater Elite in the Philippine Basketball Association Governors’ Cup on Wednesday at the Cuneta Astrodome in Pasay City.

The Gin Kings have so far showed resilience in their bid to retain the season-ending conference after recently conquering the Rain or Shine Elasto Painters, 98-89, for their fourth win against two losses.

A victory over the Elite (2-6) at 7 p.m. would move them to a share of third spot with the Meralco Bolts who are idle at 5-2.

In the first game, the giant-slaying Nlex (6-1) which gave league-leadeing TNT its first loss in eight games, battles Rain or Shine (2-6) at 4:30 p.m.

Import Justin Brownlee had a monstrous production of 39 points, 17 rebounds, eight assists and three steals to help Barangay Ginebra in a gutsy win over the Elasto Painters last Saturday.

Brownlee worked together with Scottie Thompson in the game-sealing 9-0 run that pulled themselves out of danger from an 89-all deadlock with four minutes left.

LA Tenorio added 11 points, while Stanley Pringle registered nine points for the Gin Kings.

last year’s Jakarta Asian Games,” Puentevella said.

Weightlifting’s place on the Olympics schedule once more came under threat because of attempts by Thailand to return to international competition.

A letter sent to Ajan signed by a senior director of the IOC, warned the sport’s governing body that the situation is being closely monitored and the IOC would be “very concerned” if Thai athletes returned to international events.

Last March, The TAWA suspended itself after nine of its athletes tested positive during the 2018 World Championships in Ashgabat, Turkmenistan, leaving Thailand with the worst recent doping record among all 192 affiliated members of the world body.

does. We improved a lot during our training there,” she said.

Wong, who has battled injuries to get to the top of her game, vowed to give her best.

“When we compete, we always give our best.

We always assure ourselves of that. In this SEA Games, we will give our best,” she said.

AL MENDOZA alsol47@yahoo.com

THAT’S ALL

To be crown-ready, UP must beat Ateneo

TODAY’S Game One has no more bearing in the University Athletic Association of the Philippines basketball wars. Both La Salle and Adamson University, already sadly out of the Final Four scramble, tangle merely for prestige at 12:30 p.m. at the Mall of Asia Arena in Pasay City.

But not Game Two, which is pregnant with possibilities that could tilt fortunes for either one of the protagonists.

When Ateneo and University of the Philippines (UP) do battle beginning at 4 p.m., excitement is on loan all throughout as the winner would ensure huge dividends for itself heading into the semifinals.

Ateneo will not just stake its unbeaten 13-0 slate but, more important, its burgeoning stature of invincibility, as well.

As the untouched leader from Day One, the Katipunan-based squad will face its final, most acid, test to prove if its three-peat mission is truly on course.

If only to validate their remarkable championship poise thus far, it is a must for the Eagles to defeat the Fighting Maroons to complete a much-coveted 14-0 sweep of the eight-school, two-round elimination series.

For Ateneo, it’s like the title is on the line already to tell you frankly.

For Ateneo to vacillate at this stage is to imply the scary: Choke when you need to smoke a pretender.

For that’s what best describes UP: pretender.

They might be the gallant second-placers right now but with their 9-4 record versus Ateneo’s 13-0, the Maroons remain—at best—strong candidates for the bridesmaid role for the second straight year against the highly energetic Eagles.

Don’t get me wrong.

UP has become championship caliber, why not. But for it to be crown-ready, it must craft its own wonders. Now. By defeating Ateneo today, UP could honestly start its enthronement proceedings and, in the process, burst the Eagle bubble.

By defeating Ateneo today, UP will derail Ateneo’s mouthwatering 14-game sweep while putting both teams at even-steven as they similarly go through the Final Four wringer.

An Ateneo loss today would pit the Eagles against the UST Growling Tigers and UP versus Far Eastern University in the semifinals.

With that happening, UP and Ateneo will both enjoy a twice-to-beat edge over their Final Four rivals and, deservedly of course, praise for the Maroons.

That’s because by halting Ateneo’s 14-0 dream, it would alter a scenario giving the Finals-bound Eagles the luxury of relaxing a bit while waiting for the title clash.

But the stepladder format comes into play if Ateneo beats UP today, as the Maroons will still need to hurdle the winner of the FEU-UST knockout for their semifinal foe.

But even as UP will still enjoy a twice-to-beat edge against either UST or FEU, the well-rested, elimination topnotcher Ateneo will all the more be ferociously ready come the Finals.

Eerily, the Eagles have transformed, seemingly, into vultures waiting for their prey.

So pretenders, beware.

THAT’S IT I like what UP Coach Bo Perasol said after the Maroons’ 71-68 victory over the De La Salle Green Archers on Sunday: “...we had to win this game for the UP community. They came here in throngs and they’ve supported us all throughout.” A community that staunchly supports its own is a boon, anytime.

Winners of the tournament for two straight years, Coach Tim Cone wants his players to stay aggressive and stay in the hunt to get back the crown now owned by Magnolia.

“A win would give us a good separation from the other teams. This is a quick conference and I always remind my players to focus on our games,” Cone said.

Blackwater, meanwhile, knelt to Alaska, 91-101, last Sunday.

Import Marqus Blakely had 19 points, while KG Canaleta, who was traded from Meralco, added 18. Ray Parks Jr. and Mac Belo tallied 14 points apiece for the Elite.

Ramon Rafael Bonilla THE Gin Kings’ Justin Brownlee has a monstrous game against the Elasto Painters last Saturday.

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God of peace

EAR God, You bid us to forgive and reconcile with one another. In hope we pray: compassionate God, hear our prayer. Animate our love for You, for the poor and for all creation. Prosper practices to care for and conserve the Earth’s air, water and resources. Heal divisions in the Church, in our families and in public sector. May God deliver us from our foes and fill our hearts with love, through Christ and by the working of the Holy Spirit. Amen.

GIVE US THIS DAY SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

PHOTO shows the price of Twitter stock at the New York Stock Exchange.

The social-media platform reported financial earnings on October 24. AP

Life BusinessMirror

SUI GENERIS: DUSTING OFF THE COBWEBS D4

Wednesday, October 30, 2019

D1

Ad-tech problems, weak revenue eclipse Twitter user growth

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By tHe aSSoCiated PreSS

AN FRANCISCO—Bugs in Twitter’s advertising technology dragged on revenue, overshadowing a surprisingly strong quarter of user growth.

The issue caught Wall Street off guard on Thursday and shares plunged 19 percent, among the company’s largest single-day losses since going public six years ago. The San Francisco company said it’s addressing those issues, but that they will likely weigh on its advertising business in the near term. It lowered its outlook for the fourth quarter and for the year.

The problems shifted the attention of industry analysts away positive trends in usage on Twitter, which would typically imply strong revenue growth ahead.

The number of people using Twitter daily in the most recent quarter jumped 17 percent to 145 million compared with the same period last year, and increased by 6 million from just the previous quarter.

That is 3 million more users than industry analysts had expected, according to a survey by FactSet. “These bugs affected our ability to target ads and share data with measurement and ad partners,” said Ned Segal, chief financial officer. “We also discovered that certain personalization and data settings were not operating as expected. These issues were in our control and we will work to do better.”

Net income was $37 million, or 5 cents per share.

Removing nonrecurring charges, per-share profit was 17 cents, 3 cents shy of Wall Street expectations, according to a survey of industry analysts by FactSet. It was a 65-percent drop from last year’s adjusted profit of $106 million.

Revenue was $824 million, an increase of 9 percent over the same period last year, but well short of Wall Street’s projections of $874 million.

Citi analyst Hao Yan said fixing bugs in the company’s ad platform will be a priority, but sees it as

Continued on d2

D2

Wednesday, October 30, 2019

Personal Tech BusinessMirror

Global caution over 5G puts pressure on Nokia NOKIA Chairman Risto Siilasmaa speaks during a shareholder’s meeting in Helsinki, Finland. The Finnish tech company warned on October 24 that its profits will be lower than expected, citing tough competition and costs related to new-generation 5G networks. AP

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By Jari Tanner The Associated Press

ELSINKI—Finnish tech company Nokia warned Thursday that its profits will be lower than expected due to tough competition and costs related to new-generation 5G networks, about which mobile operators are cautious amid global concerns about cyber security.

The company based in Espoo, Finland, reported a 14-percent decline in thirdquarter net profits to €267 million ($296 million), though sales were up 4 percent at €5.7 billion. The share price dropped 20 percent to €3.79 in Helsinki as Nokia said it would stop dividend payments to boost investments into 5G. It pledged to resume them after its cash position improves.

CEO Rajeev Suri said that risks previously flagged regarding the initial phase of the rollout of the high speed 5G networks are “now materializing” for Nokia.

He said there was “pricing pressure” in closing initial 5G deals, reflecting operators’ reluctance to pay premium prices for the new network technology that allows ultrafast downloading speeds.

“We expect that we will be able to progressively mitigate these issues over the course of next year,” Suri said in a statement. “To do so, we will increase investment in 5G in order to accelerate product road maps and product cost reductions, and in the digitalization of internal processes to

z

improve overall productivity.”

Nokia said it has 48 commercial 5G deals and 15 live networks, roughly on a par with Swedish competitor Ericsson but clearly lower than Chinese market leader Huawei, which has however been shadowed by allegations of spying and security concerns.

Nokia didn’t comment on Huawei’s current woes but noted that “some customers are reassessing their vendors in light of security concerns, creating nearterm pressure [for Nokia] to invest in order to secure long-term benefits.”

Huawei, the world’s biggest maker of telecom network gear, has been at the center of a furious geopolitical battle between the US and China. The US government has been lobbying allies in Europe, and elsewhere to shun Huawei over concerns its equipment might aid Chinese electronic spying, claims that the company has consistently denied.

Earlier this month, the European Union warned that 5G networks face a range of cyber threats, including from hostile countries.

While steering clear of singling out Huawei, an EU security risk assessment identified “states or state-backed actors” as the most serious and likely culprits to carry out sophisticated attacks on new 5G networks.

The report didn’t name specific countries. It only briefly mentioned Huawei as one of the main suppliers of 5G equipment, alongside with Nokia and Ericsson—the three main companies that dominate the network business. n

Saving lives one chat at a time DR. Joseph Adrian Buensalido is a busy man. He starts his day by making his rounds at a hospital, checking in on confined patients. Later, he’ll settle into his clinic, where he will receive outpatients in need of consultation. He will then drive to another hospital to monitor his wards before moving to two more within the course of the day.

As a doctor of internal medicine, he prescribes remedies for people with infectious diseases, overseeing several patients at a time. It’s a lot to handle, but one messaging app helps him see things through.

With its guaranteed privacy and ease of access, Viber allows Buensalido to manage his day with deft organization.

On any given day, he’ll have as many as 20 threads for each of his patients. He’s not the only doctor to optimize the highly secure messaging app for his practice, either—several of his colleagues use Viber to take some of the hassles out of their jobs.

n GROUP CHATS TO MONITOR PATIENT PROGRESS. Buensalido calls his residents his alter egos. With such a packed daily schedule, they help monitor his patients when he isn’t around. On their Viber chat, they give constant updates on their wards, letting him track progress and monitor their recovery. “In the past, we just had to work with paper charts,” says Buensalido. “Now, having a chat lets us have digital documentation on our phones.”

Viber chats also allow him to get notice on patient test results. “Take a dengue patient, for example. We’ll want to monitor their platelet count, because there’s a risk of bleeding,” he explains. “If the latest lab result comes out and it’s not urgent enough for any further action, the attending physician will just update us through Viber.” n GETTING UPDATES FROM NURSES ON THE DESKTOP. Buensalido only uses Viber on his smartphone, but that doesn’t mean he’s limited to chatting with people on mobile, too. The chat app can be used on multiple platforms. The computers at the nurse stations in his hospitals, for instance, are equipped with Viber, allowing nurses to conveniently send messages to Buensalido round the clock. n NETWORKING FOR PATIENT’S CONVENIENCE. Buensalido is also part of the Philippine General Hospital’s alumni association group chat. Many of these doctors have gone on to work in provinces. With this vast network, Buensalido can connect with doctors based outside Manila that he can refer to patients. “If I have a patient going home to Davao, I can shoot a text to the group and ask them if they know any internal medicine specialist there that can monitor him,” he says.

Viber, with its convenient features and built-in end-toend encryption, lets doctors focus on saving lives by getting real-time updates about their patients in the most secure way possible.

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Ivanka Trump 30, Matthew Morrison, 41; Gavin Rossdale, 54; Harry Hamlin, 68; Henry Winkler, 74.

HAPPY BIRTHDAY: Dreams can lead to reality. Set your sights high; make plans that will help you achieve your goals. Let your imagination lead the way and your ideas will flow. A creative direction will gain intensity as you experience what life has to offer. Have an open mind, and everything will fall into place. Make this a year to remember. Your lucky numbers are 6, 14, 23, 28, 32, 37, 45.

a

ARIES (March 21-April 19): Look for an investment that will grow over time. Making a move that will help bring greater stability to your life is encouraged. Personal or physical changes will help you feel more confident and secure. Being proactive will pay off. HH

b

TAURUS (April 20-May 20): Alter your life for the right reason. Don’t let an emotional situation turn into a costly mistake.

Partnerships are worth fighting for. Stubbornness will keep you from getting what you want. Put your grievances aside, and consider workable solutions. HH

c

GEMINI (May 21-June 20): Less talk and more action will help keep you out of trouble. Live up to your promises, and don’t leave anything unfinished. Refuse to let the changes others make bother you. HHH

d

CANCER (June 21-July 22): Sharing can make a difference. An unexpected change may affect you emotionally, but it shouldn’t be allowed to consume you. If you stay calm and look over your options, you will come up with a workable solution.

Don’t overreact. HHHH

e

LEO (July 23-Aug. 22): Consider your choices, but when it comes to making a physical change, take a moment to evaluate your motives. If emotions are your driving force, reconsider making a move. HHH

f

VIRGO (Aug. 23-Sept. 22): It’s payback time. Don’t hesitate to ask someone you’ve helped in the past to pitch in or contribute to something that means a lot to you. So much can be accomplished if you are willing to accept help and input. HHHH

Ad-tech problems, weak revenue eclipse Twitter user growth Continued from D1 a drag on revenue at least in the near term.

Twitter started disclosing its daily user base earlier this year. These are users who log into the site at least once a day and see advertisements on the platform.

Twitter says the daily metric is replacing its monthly user count, which it will no longer disclose.

The company said it has made progress on what it calls the “health” of its platform. The microblogging service, which has been criticized in the past for not doing enough to combat abusive comments and users, says it has been proactively identifying and removing such content. CEO Jack Dorsey said Thursday that more than 50 percent of the tweets removed for abusive content last quarter were taken down before they were reported.

Twitter now projects fourth-quarter revenue of $940 million, the lower end of its previous guidance range and short of the $1.1 billion analysts were looking for.

Advertising revenue came to $702 million for the quarter, an increase of 8 percent over the third quarter last year.

The company said data licensing and other revenue totaled $121 million, an increase of 12 percent over 2018’s third quarter. n

g

LIBRA (Sept. 23-Oct. 22): Look and you will see through what someone is trying to do. Emotional meddling will leave you at a loss. Stand up for your rights, and refuse to let anyone bully you. Don’t make excuses. HH

h

SCORPIO (Oct. 23-Nov. 21): Communication and short trips will be eye-opening. Let your mind wander and your intentions and plans for the future will become clear. A partnership looks promising. What you learn by collaborating with someone unique will motivate you to make a change. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Get your facts straight before you act. Secrets are meant to be kept. Divulging information that can be damaging to someone will make you look bad. Stick to the truth, and question anyone prone to exaggeration. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Pull out all the stops and head for the finish line. Change should be acknowledged and embraced. Share your thoughts and intentions, and let your feelings be known. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Keep your life simple and your conversations limited.

Don’t feel you have to get involved in what others are doing if it isn’t your thing or you don’t want to spend the money. HHH

l

PISCES (Feb. 19-March 20): Networking events will pay off. The people you encounter will have plenty of information to share that will help you make an important decision. A personal change will come from something someone has or does. HHHHH BIRTHDAY BABY: You are influential, thoughtful and entertaining.

You are charming and imaginative.

‘chow line’ BY QUEENA MEWERS AND ALEX EATON-SALNERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Notetaker’s need 4 Visibility reducer 8 Ruffles feathers?

13 Fleece-bearing ship, in Greek myth 14 Show-saving device 15 Sean of The Goonies 16 Reddish-purple dish often made with walnuts and goat cheese 18 E.R. employee 19 Master again 20 Third of a turkey, in bowling 21 Friend, in Haiti 22 Colorful pizza vegetable 25 Silent performer 27 “Get it?”

28 Comic’s performance 29 Casio competitor 31 Hockey penalty 33 Sub with sirloin, say 38 Days of Our Lives and the like 39 Quidditch mount 41 Mobile homes, briefly 44 Issa of Insecure

5 Taj Mahal city 4 46 Cereal whose mascot is Chip the Wolf 51 ___ and outs 52 Dolores Huerta, for one 53 Stick-up person?

55 Nancy of Entertainment Tonight 56 Ecological diet sequence, or what you can form by linking the starred answers together?

58 String instrument or first name 59 Cuban leader between Fidel and Miguel 60 Sources of 20s 61 ___-weensy 62 ___-bitty 63 “___ So Fine” (Chiffons hit) DOWN 1 Early-born babies 2 Discount ticket restriction 3 Shower love (on) 4 The Hate U Give heroine 5 Author A.A. 6 Egg cells

7 Deity 8 Inferno writer 9 Seizes wrongfully 10 Zebra marking 11 Tasket’s partner 12 Mean smile 13 Filmmaker J.J. 17 Droop 20 Go on a shopping spree 23 Person who gets out of a puzzle room 24 Dusseldorf denials 26 ___ out a living 30 W. Hemisphere alliance 31 Newton with laws of motion 32 43rd president’s monogram 34 South ___ (Seoul’s country) 35 Glass on the radio 36 Contemplate deeply 37 Bold eyeglasses 40 Stone workers 41 Band’s helper 42 Settle by a show of hands, say 43 Time management and test-taking

6 Part of a garlic bulb 4 47 Desk embellishment 48 “That’s it for me!”

49 Regrettably 50 Benching muscle, for short 54 Persian pooh-bah 56 “Good” day: Abbr.

57 Breakfast bowl bit Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, October 30, 2019

Activists ask NBC to release NDAs, hold independent probe

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By Jocelyn Noveck The Associated Press

EW YORK—Activists called upon NBC Universal on Saturday to allow former employees to speak out freely on sexual harassment in the workplace without restriction, rather than having to come to the company first to be released from nondisclosure agreements.

The company said on Saturday that any former employee who believes they cannot disclose their experience with sexual harassment as a result of a non-disparagement agreement should contact the company, “and we will release them from that perceived obligation.”

The statement, which was e-mailed to The Associated Press, was first reported on Friday night by MSNBC’s Rachel Maddow, in an emotional segment introducing author Ronan Farrow. The highly influential MSNBC host expressed deep concern that her own company’s bosses had thwarted Farrow’s reporting on sexual misconduct allegations against Harvey Weinstein—reporting which he then took to The New Yorker, where he won a Pulitzer Prize.

Maddow also pointedly questioned NBC’s failure to launch an independent investigation of both the handling of the Weinstein story and of the behavior of Matt Lauer, the former Today anchor fired in 2017 over sexual misconduct allegations.

On Saturday, Tina Tchen, incoming president and CEO of Time’s Up, said NBC Universal, while taking a useful first step, hadn’t gone far enough to release employees from nondisclosure agreements or other restrictive clauses. She said NBC should simply state that everyone is free to speak, without fear of retaliation.

“If NBC Universal is truly committed to letting survivors and employees speak out about sexual harassment at the network, it should simply release them from their nondisclosure agreements,” she said.

“There is no reason to place the burden on those who choose to speak to reveal themselves in advance to NBC Universal. This is an example of the burdens that perpetuate fear and silence, no matter what new policies and trainings may say.”

Tchen, who takes up her duties next week, added that the company must, like some other companies have, commit “to an independent, outside investigation into all the circumstances surrounding workplace culture at NBC and the journalistic decisions made at this important news outlet.... As an employer and especially as a news organization, NBC Universal should want to know the unvarnished truth.” NBC conducted its own internal investigation on the actions of its executives into how Farrow’s Weinstein story was handled, and how sexual misconduct allegations were handled.

It concluded that its judgments on the Weinstein story were correct, based on the material Farrow had at the time. Farrow also alleged that NBC executives were aware of sexual misconduct by Lauer before the allegation that led to his firing, but NBC has denied it.

Also calling for further action by NBC Universal was Linda Vester, a former NBC News employee who has accused NBC star anchor Tom Brokaw of sexual harassment and now heads a group called Silence Breakers Alliance.

“Why is NBC forcing these women who have

NEW SEASON OF NETFLIX’S ‘THE CROWN’ COMING SOON

TIMES change. Duty endures.

The third season of The Crown sees a new guard sweep into Downing Street, as Queen Elizabeth (Olivia Colman) and her family struggle to meet the challenges of a rapidly changing Britain.

From cold-war paranoia, through to the jet set and the space age—the exuberance of the 1960s and the long hangover of the 1970s—Elizabeth and the Royals must adapt to a new, more liberated, but also more turbulent world. Written by Peter Morgan, The Crown also stars Helena Bonham Carter as Princess Margaret, Tobias Menzies as The Duke of Edinburgh, Josh O’Connor as Prince Charles, Erin Doherty as Princess Anne, Ben Daniels as Lord Snowdon, Jason Watkins as Prime Minister Harold Wilson, and Charles Dance as Lord Mountbatten.

The third season of The Crown launches globally on November 17.

BLIND SPOT BRUCE C.

PLAYING AROUND

MSNBC television anchor Rachel Maddow, host of the Rachel Maddow Show, moderates a panel at the John F. Kennedy School of Government, at Harvard University, in Cambridge, Massachusetts. Time’s Up has called on NBC Universal to release all former employees from nondisclosure agreements that might be impinging on their ability to speak out about sexual harassment, and also to hold an independent investigation into workplace culture at NBC. The organization said NBC didn’t go far enough with its statement, first reported on October 25 by Maddow, that employees should contact the company in order to be released from any “perceived obligation” to remain quiet. AP

already endured trauma to come crawling on their hands and knees, to ask the company to let them speak?” she asked in an interview on Saturday.

“This would be evidence that the company is retraumatizing the victim and trying to keep them under its thumb.” Vester has also been calling for NBC Universal to allow an independent inquiry.

Friday’s remarks by Maddow came in a monologue introducing Farrow, who is on a publicity tour for his book, Catch and Kill, in which he outlines his view of roadblocks NBC News set up that led him to take his Weinstein story to The New Yorker.

It also includes an interview with a former NBC News employee who alleges she was raped by Matt Lauer, who denies the charge.

“The allegations about the behavior of Harvey

Weinstein and Matt Lauer are gut-wrenching at baseline, no matter who you are or what your connection is to this story,” Maddow told her viewers.

“But accusations that people in positions of authority in this building may have been complicit in some way of shielding those guys from accountability, those accusations are very, very hard to stomach.”

Maddow continued: “The amount of consternation this has caused among the rank and file people who work here would be almost impossible for me to overstate.”

In its statement, NBC Universal said that NBC News “has only two agreements with women relating to complaints of sexual harassment by Lauer—both entered into after his termination—and both women are free to tell their stories about Lauer.” n

‘One of the Baes’ topples competition, records highest ratings to date MORE and more viewers are going crazy over the adorable love team of RitKen—Rita Daniela and Ken Chan— as Jowalyn Biglangdapa and Grant Altamirano, while also enjoying the timeless comedic touch of Roderick Paulate as Paps Fernando in the hit GMA prime-time series One of the Baes.

The millennial fairy tale is proving to be a force to be reckoned with in the prime-time block as it continues to draw in more viewers every night.

Based on Nielsen TV Audience Measurement’s overnight ratings data for October 25, One of the Baes toppled competition after it recorded a people rating of 9.4 percent in National Urban Television Audience Measurement (Nutam), beating the rival program The Killer Bride which only managed to get 7.7 percent.

The win sets another record for One of the Baes after its remarkable triumph against its counterpart on October 24, with a people rating of 9.0 percent against The Killer Bride’s 7.8 percent.

Since its pilot airing last month, the GMA Public Affairs teleserye has been winning the hearts of viewers despite

KEN CHAN and Rita Daniela of One of the Baes.

its schedule, which usually sees the number of television viewers decline from the earlier time slots.

The first-ever prime-time series of the RitKen love team, One of the Baes not only pays tribute to Filipino seafarers but also empowers women through the story of Jowa (Rita), who is bent on making waves to achieve her dream of becoming a ship captain.

It also touches on protecting the seas

RODERICK PAULATE

through the character of Grant (Ken), a rich yet kindhearted environmental vlogger.

The Jowa-Grant love story continues to draw in fans who cannot get enough of the natural chemistry of the Rita and Ken. Just recently, the two actors were conferred the Power Tandem of the Year award by the 33rd Star Awards for TV. Every night, viewers take it to social media to

express their kilig over their characters in One of the Baes.

Viewers and netizens have also been raving about the classic comedic prowess of Roderick Paulate as Paps, who made his television comeback as Jowa’s adoptive father in the series. In fact, prior to the show’s pilot airing, one of his scenes in the program had set the Internet abuzz, getting 1 million views just a few days after it was uploaded. This was followed by more videos and memes that also drew million views as of this writing.

The fun, romantic series is further highlighted by the colorful characters of Jo (Amy Austria), Francis Aragoza (Tonton Gutierrez), Alona Aragoza (Melanie Marquez) and Steve Altamirano (Jestoni Alarcon).

Joining the veteran actors are Maureen Larrazabal, Edgar Allan Guzman, Rodjun Cruz and Joyce Ching, together with the hilarious ensemble of Archie Alemania, Buboy Villar, Kenneth Medrano and James Teng.

More existing twists await viewers in One of the Baes, which airs weeknights after The Gift on GMA.

THEY’RE a beautiful couple who both come from families rooted in show business. The actress and actor have been together for a while, although they have never fully admitted it. They have a good relationship, or so it seems. There are talks, however; that whenever the actress is away, the actor flirts with other girls. This is kind of strange because he is not known for being a flirt, so people are assuming he must be a little bored with his girlfriend. The thing is that the actress, unknown to the actor, has been having a flirtation with another actor, who is younger than she is. The flirtation is so obvious that the young actor’s girlfriend is irked, even angry, warning her boyfriend that she will no longer tolerate it.

HER BENEFACTOR

RECENT rumors about the young actress’s dalliance with a man older than her father is said to be common knowledge in business circles. It is said that he really bought a house for the young actress and funds her travels and other luxuries. Also, the young actor who was the actress’s “boyfriend” was reportedly just a beard for this relationship. The rich businessman reportedly paid the young actor big bucks to go along with the ruse. But the actress’s new relationship with an older actor is not a rumor or a smoke screen. They really are dating and she is said to be very besotted with him. This worries people close to the actress, particularly those who are close to her, because it puts her relationship with the businessman in jeopardy.

ANOTHER HEARTBREAK

THE actress has had many failed relationships and she is such a nice person, so it’s sad that her heart has been broken several times. Her most recent boyfriend was someone she already knew before they entered into a relationship, and everyone, including her family, were happy for her. Alas, it happened again. The guy, who is not from show business, broke up with the actress without giving her any reason.

So what happened? The actress’s friends did some sleuthing and found out that he broke up with her because some people had warned him about her wild past. You’d think this wouldn’t happen anymore since she is already mature and so is he. But apparently, slut shaming is still a thing.

UNHAPPY MARRIAGE

THE actress married a guy who is way younger than her, and who also has less money so people predicted that their marriage would not last for very long.

But they are still married. For how long, nobody knows. The actress has been telling friends that her husband is problematic because he is lazy and is very dependent on her. At this point, the young husband doesn’t even try to pretend that he is madly in love with his wife. The actress suspects that he must be seeing someone else. Her friends thinks it’s another man. She thinks it is another woman. As a result of what’s happening in her private life, the actress has become temperamental and moody. She can’t easily let go of her husband because she still loves him, plus they don’t have a prenup.

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Wednesday, October 30, 2019

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How to quit stalling and write your will By liZ WeSton NerdWallet YOU know you should have a will, but you keep stalling. No one likes to think about dying or about someone else raising their children. But if you get no further than scribbling notes or thinking about which lawyer to hire, you risk dying “intestate”— without a will that could guide your loved ones, head off family feuds and potentially save your family thousands of dollars.

Financial planners say getting people to stop procrastinating on this important money chore can be tough. I asked several advisors to offer their best strategies for getting clients to get this done. Maybe one of these will help you.

N REMEMBER WHOM YOU’RE DOING IT FOR. Certified financial planner Katrina Soelter of Los Angeles suggests thinking of an estate plan as “the best love letter you can write to those you love.” Providing guidance on what you want to happen after your death—and who you want to care for minor children or pets—can be a huge gift to those you leave behind.

You’re also saving them the potentially large costs and delays of hiring attorneys to sort out your estate later.

Soelter says she procrastinated on her own estate planning and finds the positive approach works better than browbeating.

“It doesn’t help to heap more shame on them, but rather focus on the reasons why it is wonderful to get it done,” Soelter says. n VISUALIZE WHAT HAPPENS WITHOUT A WILL. Then again, some people need to hear worst-case scenarios before they’ll act. Financial planners often point out, for example, that without an estate plan a court could end up deciding who takes care of your kids.

State law determines who inherits your stuff, and the distribution may not be as you would want.

CFP Janice Cackowski of Rocky River, Ohio, says one of her clients recently died after ignoring her advice to create a trust. His will bequeathed his estate to his financially irresponsible son, with no restrictions.

“The money my client saved over his 63-year lifetime will be gone within 18 months of his death,” Cackowski says. n KEEP IT SIMPLE. CFP Kevin Gahagan of San Francisco notes that getting a basic estate plan in place may not be as complicated or expensive as you fear.

“It is the attorney who does the work,” Gahagan says. “They’ll guide you in identifying the questions you need to answer so a plan can be developed.”

Also, think about what you’d want to happen if you died in the next five years, rather than trying to create an estate plan that covers all eventualities, says CFP Karen E. Van Voorhis of Norwell, Massachusetts. You can always update and change things. n USE EMPLOYEE BENEFITS. Many big companies offer their employees access to attorneys through prepaid legal services, says CFP Amy Shepard of Mesa, Arizona. That’s how she and her husband, Michael, created their estate plan. They met with an attorney affiliated with the service, which cost less than $10 per biweekly pay period when he was employed by Wells Fargo.

“For most people, the biggest thing stopping them is money,” Shepard says. “If their employer offers a legal benefit, it can make the process of doing an estate plan very affordable and very simple.”

Given that attorneys often charge $300 and up for a will, while a living trust can cost $1,200 or more, prepaid legal services can be a cost-effective option for many people, Shepard says.

Affordable options for those who aren’t offered coverage through their employer may include online services which are best for people with simple situations, such as those who don’t have a lot of assets and who don’t need trusts, Shepard says. But users need to answer the sites’ questions carefully and get the resulting documents notarized, or the paperwork won’t be valid. n SET A TIMELINE. Van Voorhis also suggests making an appointment with an attorney now but scheduling it for a few months down the road.

“That way it’s on the books and they’ll feel like they’ve accomplished something, but they also don’t have to face it for a while,” she says.

CFP Mike Giefer of Minneapolis recommends incremental deadlines.

“By October 1, have the conversation about guardians, charities and other estate intentions.

By November 1, have the initial meeting with an estate planning attorney. By December 1, clarify and confirm the documents and have them signed before the holidays,” Giefer suggests. “On January 1, 2020, they are done!” AP

Dusting off the cobwebs SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

I

WAS frantically looking for a certificate I thought I had placed inside an envelope where I normally kept my papers. It was a worn-out plastic envelope—the sort which accordioned out into several pockets where I could segregate my files into house concerns, personal documents, bills, and so on. But for the life of me, I could not find that one document which I needed right then—which is usually the case, especially when you are in a hurry.

And so I sifted through the papers one at a time, hopeful that the next would be what I was looking for. But no such luck. It was becoming more and more frustrating until I saw a picture of me in a costume for what seemed to be from a time I vaguely remembered.

It was a hat party I attended back when I was still a teacher. I was wearing an all-black ensemble with a red tie, and a checkered black and red hat.

Surrounding me were some of my students who I am sure would have already changed a lot. I know because I was once walking in the mall when I happened to meet one of them and I could not remember his name. We nodded awkwardly to one another because I guess he also could not remember how he knew me or how to react. We grinned sheepishly to ourselves at the awkwardness of it all, and in remembering that moment I took a mental note to smile at anyone who looks at me quizzically because they just might be one of my students. But I had to stop with the recollection; I still had to look for that missing certificate.

I flipped the picture and shuffled through the other papers and found a draft of one of my management trainees. I must have forgotten I had placed it there but I remember his paper. I certainly remember him. His was a rags-to-riches kind of a story: out of sheer will and determination, he rose from being a utility help into becoming a trainee for a management position. I smiled fondly as I scanned pages of his manuscript filled with my red markings. He had good ideas, which would prove helpful not only to his department but to the rest of the organization. But his grasp of the language was a challenge, and he struggled to communicate

Being a teacher and a trainer has made me realize what makes people really engaged is the knowledge that what they do actually makes a difference in somebody else’s life. I was in the academe for almost a decade because I enjoyed being the catalyst for people’s growth and development. his ideas. I had to sit down with him several times to sort through his material and coach him how to present it to the panel later on. His paper bagged the award for best research paper, besting others who were pursuing their masters, or who had elaborate research methodologies to back up their study. His paper was simple, effective and could be adopted by all the departments. He deserved that award. And the panelists recognized the simplicity and efficacy of his work, and so they gave him the award.

As he accepted the award, I saw a man who was proud of what he had accomplished and how his struggles were worth it. For a moment, none of his difficulties mattered, and I realized I find happiness and fulfillment in helping people. I guess I triumph vicariously through their achievements. And it does not matter if they acknowledge me or not because I know I helped in making them feel better about themselves by helping make their potential a reality.

I am content with that. After all, it might be part of my work but it is the best part of what I do—helping people help themselves.

And speaking of helping themselves, I still could not find the certificate. I rifled through the other sections of my expandable folder but still no luck.

But I was not as frantic as a few minutes ago. I was somehow enjoying going down memory lane and rediscovering what I loved doing: making a difference in another person’s life, however I can. And I guess with all the achievements I have made, nothing counted more than the realization that I helped another person achieve their dreams. I guess that is why I became a teacher. I may not be in the academe anymore but at the time my work still involved giving others the opportunity to do more than what they thought was possible. It just takes one person to believe in them.

Out of the corner of my eye, I saw an envelope

and pulled it out. When I looked inside, it was full of thank you notes from past students who have already graduated, and certificates from training seminars I facilitated. I read through some of them and a feeling of satisfaction and achievement came over me because I fulfilled what I had set out to do.

Sadly, I now miss seeing tangible effects of what I do, because everything is about the bottom line— profit. And since I have limited access to what actually happens in the actual training, I do not know how the materials my team creates are received. Being a teacher and a trainer has made me realize what makes people really engaged is the knowledge that what they do actually makes a difference in somebody else’s life. I was in the academe for almost a decade because I enjoyed being the catalyst for people’s growth and development. All things considered, while I miss seeing tangible results of my work, I do know that what I do impacts the lives of others positively.

Because in the end, that is what matters most to me and the work I do—to have made a difference in someone’s life.

One of the certificates in the envelope was the one I was looking for. Finally, I found it—but I also found more than what I began with. And suddenly, I felt that while this piece of paper validated what I have gone through, it does not even come close to validating what I love and enjoy doing. I rediscovered why I am doing what I am doing. And as I prepare myself to move to another phase in my professional career, I am glad I was forced to take some time to reflect and think about what truly matters to me. I guess this is how circumstances in our life forces us to go back to what we should be doing and what makes us truly happy. But it also helps me appreciate the people who were willing to trust and give me the privilege of influencing their lives because without them, I would not have found my calling. n

Pana, SM Supermalls sponsor Asian branding guru conference THE Philippine Association of National Advertisers (Pana) and SM Supermalls collaborated to bring renowned business strategist and author Martin Roll for the Pana Brand Master Sessions 2019, an annual event for business and marketing C-suite executives. Several topics, such as Asian Branding Strategy, Family Business Strategy, and Disruption Through Digital Transformation were discussed during the conference at Conrad Manila. Prior to the event, an exclusive gathering was held to welcome Roll to Manila.

In photo are (from left) Pana President Chito Maniago, 2019 Pana Board of Director Member, 2019 Pana Brand Masters Session Overall Chairman and Watsons Customer Director Vicky Encarnacion, Martin Roll and SM Supermalls COO Steven Tan.

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Wednesday, October 30, 2019

Personal Tech BusinessMirror

Global caution over 5G puts pressure on Nokia NOKIA Chairman Risto Siilasmaa speaks during a shareholder’s meeting in Helsinki, Finland. The Finnish tech company warned on October 24 that its profits will be lower than expected, citing tough competition and costs related to new-generation 5G networks. AP

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By Jari Tanner The Associated Press

ELSINKI—Finnish tech company Nokia warned Thursday that its profits will be lower than expected due to tough competition and costs related to new-generation 5G networks, about which mobile operators are cautious amid global concerns about cyber security.

The company based in Espoo, Finland, reported a 14-percent decline in thirdquarter net profits to €267 million ($296 million), though sales were up 4 percent at €5.7 billion. The share price dropped 20 percent to €3.79 in Helsinki as Nokia said it would stop dividend payments to boost investments into 5G. It pledged to resume them after its cash position improves.

CEO Rajeev Suri said that risks previously flagged regarding the initial phase of the rollout of the high speed 5G networks are “now materializing” for Nokia.

He said there was “pricing pressure” in closing initial 5G deals, reflecting operators’ reluctance to pay premium prices for the new network technology that allows ultrafast downloading speeds.

“We expect that we will be able to progressively mitigate these issues over the course of next year,” Suri said in a statement. “To do so, we will increase investment in 5G in order to accelerate product road maps and product cost reductions, and in the digitalization of internal processes to

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improve overall productivity.”

Nokia said it has 48 commercial 5G deals and 15 live networks, roughly on a par with Swedish competitor Ericsson but clearly lower than Chinese market leader Huawei, which has however been shadowed by allegations of spying and security concerns.

Nokia didn’t comment on Huawei’s current woes but noted that “some customers are reassessing their vendors in light of security concerns, creating nearterm pressure [for Nokia] to invest in order to secure long-term benefits.”

Huawei, the world’s biggest maker of telecom network gear, has been at the center of a furious geopolitical battle between the US and China. The US government has been lobbying allies in Europe, and elsewhere to shun Huawei over concerns its equipment might aid Chinese electronic spying, claims that the company has consistently denied.

Earlier this month, the European Union warned that 5G networks face a range of cyber threats, including from hostile countries.

While steering clear of singling out Huawei, an EU security risk assessment identified “states or state-backed actors” as the most serious and likely culprits to carry out sophisticated attacks on new 5G networks.

The report didn’t name specific countries. It only briefly mentioned Huawei as one of the main suppliers of 5G equipment, alongside with Nokia and Ericsson—the three main companies that dominate the network business. n

Saving lives one chat at a time DR. Joseph Adrian Buensalido is a busy man. He starts his day by making his rounds at a hospital, checking in on confined patients. Later, he’ll settle into his clinic, where he will receive outpatients in need of consultation. He will then drive to another hospital to monitor his wards before moving to two more within the course of the day.

As a doctor of internal medicine, he prescribes remedies for people with infectious diseases, overseeing several patients at a time. It’s a lot to handle, but one messaging app helps him see things through.

With its guaranteed privacy and ease of access, Viber allows Buensalido to manage his day with deft organization.

On any given day, he’ll have as many as 20 threads for each of his patients. He’s not the only doctor to optimize the highly secure messaging app for his practice, either—several of his colleagues use Viber to take some of the hassles out of their jobs.

n GROUP CHATS TO MONITOR PATIENT PROGRESS. Buensalido calls his residents his alter egos. With such a packed daily schedule, they help monitor his patients when he isn’t around. On their Viber chat, they give constant updates on their wards, letting him track progress and monitor their recovery. “In the past, we just had to work with paper charts,” says Buensalido. “Now, having a chat lets us have digital documentation on our phones.”

Viber chats also allow him to get notice on patient test results. “Take a dengue patient, for example. We’ll want to monitor their platelet count, because there’s a risk of bleeding,” he explains. “If the latest lab result comes out and it’s not urgent enough for any further action, the attending physician will just update us through Viber.” n GETTING UPDATES FROM NURSES ON THE DESKTOP. Buensalido only uses Viber on his smartphone, but that doesn’t mean he’s limited to chatting with people on mobile, too. The chat app can be used on multiple platforms. The computers at the nurse stations in his hospitals, for instance, are equipped with Viber, allowing nurses to conveniently send messages to Buensalido round the clock. n NETWORKING FOR PATIENT’S CONVENIENCE. Buensalido is also part of the Philippine General Hospital’s alumni association group chat. Many of these doctors have gone on to work in provinces. With this vast network, Buensalido can connect with doctors based outside Manila that he can refer to patients. “If I have a patient going home to Davao, I can shoot a text to the group and ask them if they know any internal medicine specialist there that can monitor him,” he says.

Viber, with its convenient features and built-in end-toend encryption, lets doctors focus on saving lives by getting real-time updates about their patients in the most secure way possible.

www.businessmirror.com.ph

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Ivanka Trump 30, Matthew Morrison, 41; Gavin Rossdale, 54; Harry Hamlin, 68; Henry Winkler, 74.

HAPPY BIRTHDAY: Dreams can lead to reality. Set your sights high; make plans that will help you achieve your goals. Let your imagination lead the way and your ideas will flow. A creative direction will gain intensity as you experience what life has to offer. Have an open mind, and everything will fall into place. Make this a year to remember. Your lucky numbers are 6, 14, 23, 28, 32, 37, 45.

a

ARIES (March 21-April 19): Look for an investment that will grow over time. Making a move that will help bring greater stability to your life is encouraged. Personal or physical changes will help you feel more confident and secure. Being proactive will pay off. HH

b

TAURUS (April 20-May 20): Alter your life for the right reason. Don’t let an emotional situation turn into a costly mistake.

Partnerships are worth fighting for. Stubbornness will keep you from getting what you want. Put your grievances aside, and consider workable solutions. HH

c

GEMINI (May 21-June 20): Less talk and more action will help keep you out of trouble. Live up to your promises, and don’t leave anything unfinished. Refuse to let the changes others make bother you. HHH

d

CANCER (June 21-July 22): Sharing can make a difference. An unexpected change may affect you emotionally, but it shouldn’t be allowed to consume you. If you stay calm and look over your options, you will come up with a workable solution.

Don’t overreact. HHHH

e

LEO (July 23-Aug. 22): Consider your choices, but when it comes to making a physical change, take a moment to evaluate your motives. If emotions are your driving force, reconsider making a move. HHH

f

VIRGO (Aug. 23-Sept. 22): It’s payback time. Don’t hesitate to ask someone you’ve helped in the past to pitch in or contribute to something that means a lot to you. So much can be accomplished if you are willing to accept help and input. HHHH

Ad-tech problems, weak revenue eclipse Twitter user growth Continued from D1 a drag on revenue at least in the near term.

Twitter started disclosing its daily user base earlier this year. These are users who log into the site at least once a day and see advertisements on the platform.

Twitter says the daily metric is replacing its monthly user count, which it will no longer disclose.

The company said it has made progress on what it calls the “health” of its platform. The microblogging service, which has been criticized in the past for not doing enough to combat abusive comments and users, says it has been proactively identifying and removing such content. CEO Jack Dorsey said Thursday that more than 50 percent of the tweets removed for abusive content last quarter were taken down before they were reported.

Twitter now projects fourth-quarter revenue of $940 million, the lower end of its previous guidance range and short of the $1.1 billion analysts were looking for.

Advertising revenue came to $702 million for the quarter, an increase of 8 percent over the third quarter last year.

The company said data licensing and other revenue totaled $121 million, an increase of 12 percent over 2018’s third quarter. n

g

LIBRA (Sept. 23-Oct. 22): Look and you will see through what someone is trying to do. Emotional meddling will leave you at a loss. Stand up for your rights, and refuse to let anyone bully you. Don’t make excuses. HH

h

SCORPIO (Oct. 23-Nov. 21): Communication and short trips will be eye-opening. Let your mind wander and your intentions and plans for the future will become clear. A partnership looks promising. What you learn by collaborating with someone unique will motivate you to make a change. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Get your facts straight before you act. Secrets are meant to be kept. Divulging information that can be damaging to someone will make you look bad. Stick to the truth, and question anyone prone to exaggeration. HHH

j

CAPRICORN (Dec. 22-Jan. 19): Pull out all the stops and head for the finish line. Change should be acknowledged and embraced. Share your thoughts and intentions, and let your feelings be known. HHH

k

AQUARIUS (Jan. 20-Feb. 18): Keep your life simple and your conversations limited.

Don’t feel you have to get involved in what others are doing if it isn’t your thing or you don’t want to spend the money. HHH

l

PISCES (Feb. 19-March 20): Networking events will pay off. The people you encounter will have plenty of information to share that will help you make an important decision. A personal change will come from something someone has or does. HHHHH BIRTHDAY BABY: You are influential, thoughtful and entertaining.

You are charming and imaginative.

‘chow line’ BY QUEENA MEWERS AND ALEX EATON-SALNERS The Universal Crossword/Edited by David Steinberg

ACROSS 1 Notetaker’s need 4 Visibility reducer 8 Ruffles feathers?

13 Fleece-bearing ship, in Greek myth 14 Show-saving device 15 Sean of The Goonies 16 Reddish-purple dish often made with walnuts and goat cheese 18 E.R. employee 19 Master again 20 Third of a turkey, in bowling 21 Friend, in Haiti 22 Colorful pizza vegetable 25 Silent performer 27 “Get it?”

28 Comic’s performance 29 Casio competitor 31 Hockey penalty 33 Sub with sirloin, say 38 Days of Our Lives and the like 39 Quidditch mount 41 Mobile homes, briefly 44 Issa of Insecure

5 Taj Mahal city 4 46 Cereal whose mascot is Chip the Wolf 51 ___ and outs 52 Dolores Huerta, for one 53 Stick-up person?

55 Nancy of Entertainment Tonight 56 Ecological diet sequence, or what you can form by linking the starred answers together?

58 String instrument or first name 59 Cuban leader between Fidel and Miguel 60 Sources of 20s 61 ___-weensy 62 ___-bitty 63 “___ So Fine” (Chiffons hit) DOWN 1 Early-born babies 2 Discount ticket restriction 3 Shower love (on) 4 The Hate U Give heroine 5 Author A.A. 6 Egg cells

7 Deity 8 Inferno writer 9 Seizes wrongfully 10 Zebra marking 11 Tasket’s partner 12 Mean smile 13 Filmmaker J.J. 17 Droop 20 Go on a shopping spree 23 Person who gets out of a puzzle room 24 Dusseldorf denials 26 ___ out a living 30 W. Hemisphere alliance 31 Newton with laws of motion 32 43rd president’s monogram 34 South ___ (Seoul’s country) 35 Glass on the radio 36 Contemplate deeply 37 Bold eyeglasses 40 Stone workers 41 Band’s helper 42 Settle by a show of hands, say 43 Time management and test-taking

6 Part of a garlic bulb 4 47 Desk embellishment 48 “That’s it for me!”

49 Regrettably 50 Benching muscle, for short 54 Persian pooh-bah 56 “Good” day: Abbr.

57 Breakfast bowl bit Solution to yesterday’s puzzle:

Show BusinessMirror

www.businessmirror.com.ph

Wednesday, October 30, 2019

Activists ask NBC to release NDAs, hold independent probe

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By Jocelyn Noveck The Associated Press

EW YORK—Activists called upon NBC Universal on Saturday to allow former employees to speak out freely on sexual harassment in the workplace without restriction, rather than having to come to the company first to be released from nondisclosure agreements.

The company said on Saturday that any former employee who believes they cannot disclose their experience with sexual harassment as a result of a non-disparagement agreement should contact the company, “and we will release them from that perceived obligation.”

The statement, which was e-mailed to The Associated Press, was first reported on Friday night by MSNBC’s Rachel Maddow, in an emotional segment introducing author Ronan Farrow. The highly influential MSNBC host expressed deep concern that her own company’s bosses had thwarted Farrow’s reporting on sexual misconduct allegations against Harvey Weinstein—reporting which he then took to The New Yorker, where he won a Pulitzer Prize.

Maddow also pointedly questioned NBC’s failure to launch an independent investigation of both the handling of the Weinstein story and of the behavior of Matt Lauer, the former Today anchor fired in 2017 over sexual misconduct allegations.

On Saturday, Tina Tchen, incoming president and CEO of Time’s Up, said NBC Universal, while taking a useful first step, hadn’t gone far enough to release employees from nondisclosure agreements or other restrictive clauses. She said NBC should simply state that everyone is free to speak, without fear of retaliation.

“If NBC Universal is truly committed to letting survivors and employees speak out about sexual harassment at the network, it should simply release them from their nondisclosure agreements,” she said.

“There is no reason to place the burden on those who choose to speak to reveal themselves in advance to NBC Universal. This is an example of the burdens that perpetuate fear and silence, no matter what new policies and trainings may say.”

Tchen, who takes up her duties next week, added that the company must, like some other companies have, commit “to an independent, outside investigation into all the circumstances surrounding workplace culture at NBC and the journalistic decisions made at this important news outlet.... As an employer and especially as a news organization, NBC Universal should want to know the unvarnished truth.” NBC conducted its own internal investigation on the actions of its executives into how Farrow’s Weinstein story was handled, and how sexual misconduct allegations were handled.

It concluded that its judgments on the Weinstein story were correct, based on the material Farrow had at the time. Farrow also alleged that NBC executives were aware of sexual misconduct by Lauer before the allegation that led to his firing, but NBC has denied it.

Also calling for further action by NBC Universal was Linda Vester, a former NBC News employee who has accused NBC star anchor Tom Brokaw of sexual harassment and now heads a group called Silence Breakers Alliance.

“Why is NBC forcing these women who have

NEW SEASON OF NETFLIX’S ‘THE CROWN’ COMING SOON

TIMES change. Duty endures.

The third season of The Crown sees a new guard sweep into Downing Street, as Queen Elizabeth (Olivia Colman) and her family struggle to meet the challenges of a rapidly changing Britain.

From cold-war paranoia, through to the jet set and the space age—the exuberance of the 1960s and the long hangover of the 1970s—Elizabeth and the Royals must adapt to a new, more liberated, but also more turbulent world. Written by Peter Morgan, The Crown also stars Helena Bonham Carter as Princess Margaret, Tobias Menzies as The Duke of Edinburgh, Josh O’Connor as Prince Charles, Erin Doherty as Princess Anne, Ben Daniels as Lord Snowdon, Jason Watkins as Prime Minister Harold Wilson, and Charles Dance as Lord Mountbatten.

The third season of The Crown launches globally on November 17.

BLIND SPOT BRUCE C.

PLAYING AROUND

MSNBC television anchor Rachel Maddow, host of the Rachel Maddow Show, moderates a panel at the John F. Kennedy School of Government, at Harvard University, in Cambridge, Massachusetts. Time’s Up has called on NBC Universal to release all former employees from nondisclosure agreements that might be impinging on their ability to speak out about sexual harassment, and also to hold an independent investigation into workplace culture at NBC. The organization said NBC didn’t go far enough with its statement, first reported on October 25 by Maddow, that employees should contact the company in order to be released from any “perceived obligation” to remain quiet. AP

already endured trauma to come crawling on their hands and knees, to ask the company to let them speak?” she asked in an interview on Saturday.

“This would be evidence that the company is retraumatizing the victim and trying to keep them under its thumb.” Vester has also been calling for NBC Universal to allow an independent inquiry.

Friday’s remarks by Maddow came in a monologue introducing Farrow, who is on a publicity tour for his book, Catch and Kill, in which he outlines his view of roadblocks NBC News set up that led him to take his Weinstein story to The New Yorker.

It also includes an interview with a former NBC News employee who alleges she was raped by Matt Lauer, who denies the charge.

“The allegations about the behavior of Harvey

Weinstein and Matt Lauer are gut-wrenching at baseline, no matter who you are or what your connection is to this story,” Maddow told her viewers.

“But accusations that people in positions of authority in this building may have been complicit in some way of shielding those guys from accountability, those accusations are very, very hard to stomach.”

Maddow continued: “The amount of consternation this has caused among the rank and file people who work here would be almost impossible for me to overstate.”

In its statement, NBC Universal said that NBC News “has only two agreements with women relating to complaints of sexual harassment by Lauer—both entered into after his termination—and both women are free to tell their stories about Lauer.” n

‘One of the Baes’ topples competition, records highest ratings to date MORE and more viewers are going crazy over the adorable love team of RitKen—Rita Daniela and Ken Chan— as Jowalyn Biglangdapa and Grant Altamirano, while also enjoying the timeless comedic touch of Roderick Paulate as Paps Fernando in the hit GMA prime-time series One of the Baes.

The millennial fairy tale is proving to be a force to be reckoned with in the prime-time block as it continues to draw in more viewers every night.

Based on Nielsen TV Audience Measurement’s overnight ratings data for October 25, One of the Baes toppled competition after it recorded a people rating of 9.4 percent in National Urban Television Audience Measurement (Nutam), beating the rival program The Killer Bride which only managed to get 7.7 percent.

The win sets another record for One of the Baes after its remarkable triumph against its counterpart on October 24, with a people rating of 9.0 percent against The Killer Bride’s 7.8 percent.

Since its pilot airing last month, the GMA Public Affairs teleserye has been winning the hearts of viewers despite

KEN CHAN and Rita Daniela of One of the Baes.

its schedule, which usually sees the number of television viewers decline from the earlier time slots.

The first-ever prime-time series of the RitKen love team, One of the Baes not only pays tribute to Filipino seafarers but also empowers women through the story of Jowa (Rita), who is bent on making waves to achieve her dream of becoming a ship captain.

It also touches on protecting the seas

RODERICK PAULATE

through the character of Grant (Ken), a rich yet kindhearted environmental vlogger.

The Jowa-Grant love story continues to draw in fans who cannot get enough of the natural chemistry of the Rita and Ken. Just recently, the two actors were conferred the Power Tandem of the Year award by the 33rd Star Awards for TV. Every night, viewers take it to social media to

express their kilig over their characters in One of the Baes.

Viewers and netizens have also been raving about the classic comedic prowess of Roderick Paulate as Paps, who made his television comeback as Jowa’s adoptive father in the series. In fact, prior to the show’s pilot airing, one of his scenes in the program had set the Internet abuzz, getting 1 million views just a few days after it was uploaded. This was followed by more videos and memes that also drew million views as of this writing.

The fun, romantic series is further highlighted by the colorful characters of Jo (Amy Austria), Francis Aragoza (Tonton Gutierrez), Alona Aragoza (Melanie Marquez) and Steve Altamirano (Jestoni Alarcon).

Joining the veteran actors are Maureen Larrazabal, Edgar Allan Guzman, Rodjun Cruz and Joyce Ching, together with the hilarious ensemble of Archie Alemania, Buboy Villar, Kenneth Medrano and James Teng.

More existing twists await viewers in One of the Baes, which airs weeknights after The Gift on GMA.

THEY’RE a beautiful couple who both come from families rooted in show business. The actress and actor have been together for a while, although they have never fully admitted it. They have a good relationship, or so it seems. There are talks, however; that whenever the actress is away, the actor flirts with other girls. This is kind of strange because he is not known for being a flirt, so people are assuming he must be a little bored with his girlfriend. The thing is that the actress, unknown to the actor, has been having a flirtation with another actor, who is younger than she is. The flirtation is so obvious that the young actor’s girlfriend is irked, even angry, warning her boyfriend that she will no longer tolerate it.

HER BENEFACTOR

RECENT rumors about the young actress’s dalliance with a man older than her father is said to be common knowledge in business circles. It is said that he really bought a house for the young actress and funds her travels and other luxuries. Also, the young actor who was the actress’s “boyfriend” was reportedly just a beard for this relationship. The rich businessman reportedly paid the young actor big bucks to go along with the ruse. But the actress’s new relationship with an older actor is not a rumor or a smoke screen. They really are dating and she is said to be very besotted with him. This worries people close to the actress, particularly those who are close to her, because it puts her relationship with the businessman in jeopardy.

ANOTHER HEARTBREAK

THE actress has had many failed relationships and she is such a nice person, so it’s sad that her heart has been broken several times. Her most recent boyfriend was someone she already knew before they entered into a relationship, and everyone, including her family, were happy for her. Alas, it happened again. The guy, who is not from show business, broke up with the actress without giving her any reason.

So what happened? The actress’s friends did some sleuthing and found out that he broke up with her because some people had warned him about her wild past. You’d think this wouldn’t happen anymore since she is already mature and so is he. But apparently, slut shaming is still a thing.

UNHAPPY MARRIAGE

THE actress married a guy who is way younger than her, and who also has less money so people predicted that their marriage would not last for very long.

But they are still married. For how long, nobody knows. The actress has been telling friends that her husband is problematic because he is lazy and is very dependent on her. At this point, the young husband doesn’t even try to pretend that he is madly in love with his wife. The actress suspects that he must be seeing someone else. Her friends thinks it’s another man. She thinks it is another woman. As a result of what’s happening in her private life, the actress has become temperamental and moody. She can’t easily let go of her husband because she still loves him, plus they don’t have a prenup.

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Wednesday, October 30, 2019

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How to quit stalling and write your will By liZ WeSton NerdWallet YOU know you should have a will, but you keep stalling. No one likes to think about dying or about someone else raising their children. But if you get no further than scribbling notes or thinking about which lawyer to hire, you risk dying “intestate”— without a will that could guide your loved ones, head off family feuds and potentially save your family thousands of dollars.

Financial planners say getting people to stop procrastinating on this important money chore can be tough. I asked several advisors to offer their best strategies for getting clients to get this done. Maybe one of these will help you.

N REMEMBER WHOM YOU’RE DOING IT FOR. Certified financial planner Katrina Soelter of Los Angeles suggests thinking of an estate plan as “the best love letter you can write to those you love.” Providing guidance on what you want to happen after your death—and who you want to care for minor children or pets—can be a huge gift to those you leave behind.

You’re also saving them the potentially large costs and delays of hiring attorneys to sort out your estate later.

Soelter says she procrastinated on her own estate planning and finds the positive approach works better than browbeating.

“It doesn’t help to heap more shame on them, but rather focus on the reasons why it is wonderful to get it done,” Soelter says. n VISUALIZE WHAT HAPPENS WITHOUT A WILL. Then again, some people need to hear worst-case scenarios before they’ll act. Financial planners often point out, for example, that without an estate plan a court could end up deciding who takes care of your kids.

State law determines who inherits your stuff, and the distribution may not be as you would want.

CFP Janice Cackowski of Rocky River, Ohio, says one of her clients recently died after ignoring her advice to create a trust. His will bequeathed his estate to his financially irresponsible son, with no restrictions.

“The money my client saved over his 63-year lifetime will be gone within 18 months of his death,” Cackowski says. n KEEP IT SIMPLE. CFP Kevin Gahagan of San Francisco notes that getting a basic estate plan in place may not be as complicated or expensive as you fear.

“It is the attorney who does the work,” Gahagan says. “They’ll guide you in identifying the questions you need to answer so a plan can be developed.”

Also, think about what you’d want to happen if you died in the next five years, rather than trying to create an estate plan that covers all eventualities, says CFP Karen E. Van Voorhis of Norwell, Massachusetts. You can always update and change things. n USE EMPLOYEE BENEFITS. Many big companies offer their employees access to attorneys through prepaid legal services, says CFP Amy Shepard of Mesa, Arizona. That’s how she and her husband, Michael, created their estate plan. They met with an attorney affiliated with the service, which cost less than $10 per biweekly pay period when he was employed by Wells Fargo.

“For most people, the biggest thing stopping them is money,” Shepard says. “If their employer offers a legal benefit, it can make the process of doing an estate plan very affordable and very simple.”

Given that attorneys often charge $300 and up for a will, while a living trust can cost $1,200 or more, prepaid legal services can be a cost-effective option for many people, Shepard says.

Affordable options for those who aren’t offered coverage through their employer may include online services which are best for people with simple situations, such as those who don’t have a lot of assets and who don’t need trusts, Shepard says. But users need to answer the sites’ questions carefully and get the resulting documents notarized, or the paperwork won’t be valid. n SET A TIMELINE. Van Voorhis also suggests making an appointment with an attorney now but scheduling it for a few months down the road.

“That way it’s on the books and they’ll feel like they’ve accomplished something, but they also don’t have to face it for a while,” she says.

CFP Mike Giefer of Minneapolis recommends incremental deadlines.

“By October 1, have the conversation about guardians, charities and other estate intentions.

By November 1, have the initial meeting with an estate planning attorney. By December 1, clarify and confirm the documents and have them signed before the holidays,” Giefer suggests. “On January 1, 2020, they are done!” AP

Dusting off the cobwebs SUI GENERIS CARLO ATIENZA

biblisko@gmail.com

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WAS frantically looking for a certificate I thought I had placed inside an envelope where I normally kept my papers. It was a worn-out plastic envelope—the sort which accordioned out into several pockets where I could segregate my files into house concerns, personal documents, bills, and so on. But for the life of me, I could not find that one document which I needed right then—which is usually the case, especially when you are in a hurry.

And so I sifted through the papers one at a time, hopeful that the next would be what I was looking for. But no such luck. It was becoming more and more frustrating until I saw a picture of me in a costume for what seemed to be from a time I vaguely remembered.

It was a hat party I attended back when I was still a teacher. I was wearing an all-black ensemble with a red tie, and a checkered black and red hat.

Surrounding me were some of my students who I am sure would have already changed a lot. I know because I was once walking in the mall when I happened to meet one of them and I could not remember his name. We nodded awkwardly to one another because I guess he also could not remember how he knew me or how to react. We grinned sheepishly to ourselves at the awkwardness of it all, and in remembering that moment I took a mental note to smile at anyone who looks at me quizzically because they just might be one of my students. But I had to stop with the recollection; I still had to look for that missing certificate.

I flipped the picture and shuffled through the other papers and found a draft of one of my management trainees. I must have forgotten I had placed it there but I remember his paper. I certainly remember him. His was a rags-to-riches kind of a story: out of sheer will and determination, he rose from being a utility help into becoming a trainee for a management position. I smiled fondly as I scanned pages of his manuscript filled with my red markings. He had good ideas, which would prove helpful not only to his department but to the rest of the organization. But his grasp of the language was a challenge, and he struggled to communicate

Being a teacher and a trainer has made me realize what makes people really engaged is the knowledge that what they do actually makes a difference in somebody else’s life. I was in the academe for almost a decade because I enjoyed being the catalyst for people’s growth and development. his ideas. I had to sit down with him several times to sort through his material and coach him how to present it to the panel later on. His paper bagged the award for best research paper, besting others who were pursuing their masters, or who had elaborate research methodologies to back up their study. His paper was simple, effective and could be adopted by all the departments. He deserved that award. And the panelists recognized the simplicity and efficacy of his work, and so they gave him the award.

As he accepted the award, I saw a man who was proud of what he had accomplished and how his struggles were worth it. For a moment, none of his difficulties mattered, and I realized I find happiness and fulfillment in helping people. I guess I triumph vicariously through their achievements. And it does not matter if they acknowledge me or not because I know I helped in making them feel better about themselves by helping make their potential a reality.

I am content with that. After all, it might be part of my work but it is the best part of what I do—helping people help themselves.

And speaking of helping themselves, I still could not find the certificate. I rifled through the other sections of my expandable folder but still no luck.

But I was not as frantic as a few minutes ago. I was somehow enjoying going down memory lane and rediscovering what I loved doing: making a difference in another person’s life, however I can. And I guess with all the achievements I have made, nothing counted more than the realization that I helped another person achieve their dreams. I guess that is why I became a teacher. I may not be in the academe anymore but at the time my work still involved giving others the opportunity to do more than what they thought was possible. It just takes one person to believe in them.

Out of the corner of my eye, I saw an envelope

and pulled it out. When I looked inside, it was full of thank you notes from past students who have already graduated, and certificates from training seminars I facilitated. I read through some of them and a feeling of satisfaction and achievement came over me because I fulfilled what I had set out to do.

Sadly, I now miss seeing tangible effects of what I do, because everything is about the bottom line— profit. And since I have limited access to what actually happens in the actual training, I do not know how the materials my team creates are received. Being a teacher and a trainer has made me realize what makes people really engaged is the knowledge that what they do actually makes a difference in somebody else’s life. I was in the academe for almost a decade because I enjoyed being the catalyst for people’s growth and development. All things considered, while I miss seeing tangible results of my work, I do know that what I do impacts the lives of others positively.

Because in the end, that is what matters most to me and the work I do—to have made a difference in someone’s life.

One of the certificates in the envelope was the one I was looking for. Finally, I found it—but I also found more than what I began with. And suddenly, I felt that while this piece of paper validated what I have gone through, it does not even come close to validating what I love and enjoy doing. I rediscovered why I am doing what I am doing. And as I prepare myself to move to another phase in my professional career, I am glad I was forced to take some time to reflect and think about what truly matters to me. I guess this is how circumstances in our life forces us to go back to what we should be doing and what makes us truly happy. But it also helps me appreciate the people who were willing to trust and give me the privilege of influencing their lives because without them, I would not have found my calling. n

Pana, SM Supermalls sponsor Asian branding guru conference THE Philippine Association of National Advertisers (Pana) and SM Supermalls collaborated to bring renowned business strategist and author Martin Roll for the Pana Brand Master Sessions 2019, an annual event for business and marketing C-suite executives. Several topics, such as Asian Branding Strategy, Family Business Strategy, and Disruption Through Digital Transformation were discussed during the conference at Conrad Manila. Prior to the event, an exclusive gathering was held to welcome Roll to Manila.

In photo are (from left) Pana President Chito Maniago, 2019 Pana Board of Director Member, 2019 Pana Brand Masters Session Overall Chairman and Watsons Customer Director Vicky Encarnacion, Martin Roll and SM Supermalls COO Steven Tan.

BusinessMirror E1 | Wednesday, October 30, 2019 • Editor : Tet Andolong

BROADFIELD main park (aerial shot)

ALVEO LAND CARRIES ALI’S TRACK RECORD IN BROADFIELD

By Rizal Raoul S. Reyes

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@brownindio

YALA Land Inc. (ALI) has an excellent track record in developing master-planned estates since the postwar era. Forbes Park, named after former American Gov. Gen. Cameron Forbes, is the prime example of how a prime property should be developed. After the tony Forbes Park, it was followed by other success stories like Dasmariñas, Bel-Air and Ayala Alabang.

T he development of wel lplanned estates continues as ALI subsidiary Alveo Land has launched the commercial district of Broadfield, its latest 120-hectare master-planned estate in Laguna. Broadfield is envisioned as a modern and progressive 80-hectare commercial and mixed-use district, complemented by 40 hectares for residential subdivisions.

“We have a well-designed master plan that applies the best practices of AyalaLand in property development. This district will be innovative, sustainable and progressive. Broadfield will also have basic intelligent city features, such as fiber-to-the-home system, traffic light controls, CCTV security and transport systems,” Rufino Gutierrez, chief operating officer of Alveo Land said in a recent press briefing.

Gutierrez pointed out that Broadfield ’s location makes it quite attractive to the investor whether it is for residential, leisure, industrial and manufacturing center.

Broadfield is strategically located to major thoroughfares taking about an about an hour’s drive from Makati and Bonifacio Global City, 30 minutes away from Ala-

bang, and a mere 10-minute drive from Nuvali. Access is through the South Luzon Expressway, and the main roads of Governor’s Drive, and the Santa Rosa-Tagaytay Road.

Broadfield will more accessible in the future as major infrastructure projects, such as the upcoming Cavite-Laguna Expressway and the planned Cav ite-TagaytayBatangas Expressway in the South are expected to be completed by 2022.

Alveo will allot 80 hectares for commercial and mixed-use while the remaining 40 hectares are for residential developments. Green space will be given importance as 8 hectares are dedicated to parks and open spaces fit for creating a balance and community focused master plan. Pedestrian-centric facilities and bike lanes are also featured to elevate the experience in Broadfield.

Broadfield is going to be true to its name as it is going to feature wide roads and pedestrian walkways.

“Ten percent of the total land area [about 8 hectares], has been dedicated to parks and open spaces. Dedicated bike lanes and bike rack facilities will also be set up across the development, and peo-

BROADFIELD main park

BROADFIELD master plan

ple will be able to traverse through an interconnected park system,” Gutierrez said.

“Broadfield will have its own storm water management system and detention ponds for rainwater

collection, solar and alternative energy sources for lighting, efficient waste reduction systems, and energy and water-efficient fixtures will be the norm. Alveo will also require Broadfield’s com-

mercial locators to comply with the Philippine Green Building Code, to help maintain the estate’s sustainability,” he added.

Another appeal of Broadfield is its strategic location near the

Laguna Technopark and Laguna International Industrial Park.

Alveo has offered an initial 36.6 hectares composed of 35 commercial lots ranging in size from 1,324 sq m to 2,915 sq m. The commercial district will be located on the northwestern portion of the estate, closest to the main road.

Under Broadfield are two previously launched Alveo residential subdivisions in the area, namely Venido on the northwestern portion, and Aveia just across it.

Venido is a 22-hectare residential community currently being constructed. Meantime, Aveia’s initial phases started turnover this year.

To achieve a balanced living in the community, the 50-hectare of the Laguna campus of De La Salle University will provide the residents of quality education. The campus will also be the site of the Shrine of Saint John Baptist de La Salle, patron saint of teachers.

The sanctuary is expected to be a pilgrimage site for educators and will be completed in 2020.

Phase 1 turnover will begin by end 2023.

Business

E2 Wednesday, October 30, 2019

IWG expects to hit 90 percent occupancy for flexible work spaces in PHL

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By Roderick L. Abad

@rodrik_28

LEXIBLE co-working space solutions provider International Workplace Group (IWG) bared that the Philippines is currently one of its four best performing markets globally, a clear indication that shared economy is gaining a traction in the country.

With globalization and rapid developments nowadays, the concept of work has been rede-

fined as enterprises, from small scale to well-established ones, are working together in a flex-

ible office environment.

As more and more countries continue to embrace this phenomenon, sharing economy is expected to grow from $14 billion in 2014 to $335 bilion in 2025.

IWG Philippines, Vietnam and Cambodia Countr y Manager Lars Wittig revealed that various international real-estate service firms reported that f lexible work space locally has increased by about 40 percent year-on-year as compared to the global figure of 21 percent in the last 10 years.

“It keeps [on] growing, wherein a few years ago it was only 2 [percent] or 3 percent of all commercial spaces that were shared one way or the other, like shared office space, co-working, or whatever we like to call it.

Today it’s close to 7 percent,”

he told reporters during their press briefing held last week at the World Spaces in Bonifacio Global City in Taguig.

Over the next decade, he said that one-third of all buildings to be turned over worldwide will be allocated for flexible shared work space. IWG is well-positioned to this, he noted, given its expansive presence in 120 countries, over 1,000 cities and 3,400 locations worldwide.

While the company perfoms well in three highly developed markets, namely, the United States, Canada and Japan, where it operates in between 150 to over 1,000 locations, the Philippines remains on a par to them even if it currently has only 28 f lexible shared office centers, 26 of them are branded as Regus and two are named Spaces.

They are located in Metro Manila, Davao, Cebu and Clark in Pampanga—all having a total of nearly 7,000 seats.

Over the last three months, the company has received over 1,400 inquiries monthly. On the average, it signs in over 200 new customers monthly.

“Last month, specifically, it was for the first time, 1,501 inquiries. And what that trend means in terms of new customers is that in September, we had 227 new customers joining our community,” the top executive said. “And as part of this growing trend, they generally sign up for long term and, more likely than before, [want] to keep extending and expanding.”

Given the bullish business climate in the country, Wittig is confident that they will hit 90

percent in terms of occupancy across all their facilities nationwide by end of the year.

“The overall market is growing extremely fast. Our occupancy is super high and the demand is ever increasing,” he said, while citing that they will continue to accommodate the increasing market demand for flexible coworking offices.

In so doing, IWG plans to expand in Tier 2 cities, such as in General Santos, Cagayan de Oro, Iloilo, Bacolod, Dumaguete, Naga, Subic, Baguio and Laoag.

“Basically, we agree 100 percent with the drive and the intention of our government which is to expand outside of Metro Manila. And I guarantee that by the time we are in need of those, they are ready for flexible workspace,” Wittig stressed.

Commune with nature at La Huerta Farms

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HERE is a certain appeal to tending your own farm.

Particularly for urbanites, having their own farm to care for allows them to destress and unwind, as well as to commune and reestablish their connection with nature. A farm is said to have a calming effect that can do wonders for one’s mind and body. Add to that, of course, is the opportunity to grow your own crops organically, helping make that push for healthier living.

One can find such a farm, just about an hour away from Makati City.

At the La Huerta Farms and Residences in Calamba, Laguna, one can find that rare opportunity to “go back to the basics” as this 50-hectare development by trusted developer Santa Lucia Land Inc. offers farm lots for sale.

This is the company’s first leisure farms

and residences project.

La Huerta, which means “The Orchard,” will allow future owners to enjoy the benefits of a healthy lifestyle in one‘s own farm estate and the healing power of nature—and well away from the hurried, and at times exacting, pace of lifestyle in the metro. You get to build your dream home within serene surroundings, lush greenery and fresh air, which would all serve as the perfect antidote to your stress and anxieties.

Start tapping on the healing power of nature and choose from any of the four garden communities that La Huerta offers.

El Sol (The Sun) offers farm lots teeming with plants and trees that were carefully selected for their medicinal and therapeutic benefits, as well as for their aesthetic appeal. The main road is lined with Banaba trees,

valued for their efficacy in helping control diabetes. They also bloom beautifully and paint the landscape with pink and lavender hues. Other roads feature Lagundi trees, whose leaves are proven to cure cough, as well as several other plants that are considered antioxidants.

La Luna (The Moon) is alive with the aroma of coffee and cacao, bignay, and other fruit wines. In this community, such crops are grown year-round, with their round canopies serving as a relaxing sight along the roads. Residents who want to grow and process their own wine or coffee can acquire proper training and technology from La Huerta’s resident wine experts.

El Cielo (The Sky) is unique in that it is home to the largest bird in the world, the ostrich, which feeds on vegetables and other edible plants. This cluster houses ostrich farms, as well as rows of organic vegetable and herb gardens.

In this lush natural setting, aficionados of healthy diets can produce and whip up their culinary masterpieces right in their own gardens.

Meanwhile, La Lluvia (The Rain) has a thriving plant nursery. Various ornamental palms, such as Madagascar and Lastanilla blue and red palm, fan and Hawaiian, from seedlings to fully mature stages, surround the area—thus creating a fresh, tropical ambience.

Indeed, farming at La Huerta is more than just a weekend hobby but rather an integral part of your family’s healthy, well-balanced lifestyle.

The luxury of time at Woodlands Point

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VER wondered how time seems to speed by so fast?

While you immerse yourself in life’s daily undertakings, people scramble around you to get about their day and cars zoom past you, sometimes stuck in a demanding pace that leaves you eventually wanting for more time.

At the country’s premier mountain resort development south of the Metro, everything is in reverse. Amid the rolling terrains of the mountainside, the verdant landscape, and the cool and dewy Tagaytay weather is where time stands still. Here at Tagaytay Highlands, uplift your spirits and calm your soul at its most coveted and charming property—Woodlands Point.

Found on the highest point of Tagaytay Highlands, Woodlands Point was inspired by the log cabins of North America, thus made up of contemporary ski resort-inspired luxury log cabins that share the landscape with towering Norfolk pine trees, the Canlubang countryside, Laguna de Bay, and lush mountains.

Sprawled on a 12-hectare lowdensity neighborhood, homes at Woodlands Point tell a story through each piece of fragrant Western red cedar, a sturdy handsome hardwood from Canada that lasts a lifetime. Each log cabin home, ranging from 239 sq m to 320 sq m, is a distinct masterpiece designed meticulously using elegant detailing of glass and

stone, and large picture windows to watch the perfect golden hour sweeping the countryside.

Quite fitting, the exquisitely designed interiors will leave you in awe—living and dining areas outfitted with high ceilings for natural light and ventilation, expansive bedrooms, ensuite toilets and baths, and a semi-furnished kitchen equipped with a refrigerator, cooking range, and range hood.

As you settle in your hideaway to slow down the time, fall in love with the rustic countryside and witness elegant, refined living unveil before you. Experience mountainside living at its finest at Woodlands Point in Tagaytay Highlands, where life’s simple pleasures are meant to be felt.

sMirror

Editor: Tet Andolong

E3

FILINVEST ACTIVA NAMED DOT PROPERTY’S

BEST MIXED-USE DEVELOPMENT

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ILINVEST, one of the country’s largest property developers, celebrates another milestone as one of its newest projects, Activa, a 1.3-hectare mixed-use district in Cubao that offers a holistic live-work-play lifestyle, was hailed as the Best Mixed-Use Development for 2019.

The highly coveted recognition was given by Dot Property, a digital media company that drives a network of nine property portal web sites and offline media throughout Asia to honor the absolute best projects, developers and companies that contribute to real estate.

“We are proud to receive this award and we thank Dot Property for this recognition. We take inspiration from citations like this to build more projects that offer variety to investors. This award is an affirmation of Filinvest’s commitment to build the Filipino dream by providing a development with a wide variety of components, complemented by a slew of well-appointed amenities,” said Janette Cordero, Filinvest first vice president for Mixed-Use projects.

Activa’s mixed-use concept recognizes the need for everything to be within reach in this age of rapid advancement by putting together the key components where one can thrive—the convenience of condo living, the flexibility of being in a modern workplace set in an ideal location and the Metro’s vigor in its entertainment and leisure components.

Envisioned to revitalize Cubao, one of the oldest business districts in the country, Activa is situated at the corner of Edsa and Aurora Boulevard in Cubao, Quezon City. The project is seen to contribute a new face to the continually changing atmosphere of Cubao.

“To ensure that this vision is realized, FLI has tapped internationally renowned consultants, such as Broadway Malyan for master planning and architecture, and Arup for the structural consultancy. With these firms’ expertise, we are confident to deliver a project that will help invigorate the Cubao area and let it be seen anew as a major takeoff point for other business districts in the Metro,” Cordero said.

Mixed-use complex

WORTHY of Dot Property’s recognition, Activa embodies progress, play, and productivity as it features well-rounded business, residential and entertainment options.

Activa Flex, the development’s 24-story traditional office building is comprised of 40 Compound Office units, 112± Regular Office units and 168± versatile

Small Office Home Office spaces (SOHO) units. With unit size ranging from 20 sq m± to 24 sq m±, Activa Flex provides the much-needed space for flexibility and functionality.

Ideal for start-ups to medium-sized firms, Activa Flex’s units with SOHO grant forward-looking entrepreneurs the flexibility and convenience of living and working in one place, all within a masterplanned cityscape.

Each unit is equipped with fiber optic cable and telecommunications backbone for speedy connectivity. It also features six high-speed elevators, providing efficiency and convenience to its occupants. Its versatility is seen to create a more comfortable

Amaia Scapes North Point to offer comfortable homes in Bacolod

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ACOLOD, dubbed the City of Smiles, is one of Western Visayas’s highly urbanized cities that present boundless opportunities for businesses, employment, tourism and the hospitality trade. Small wonder why the locals take pride in Bacolod as an ideal place to live, and why the city has lured even non-locals to try their luck there.

Fortunately, Amaia Land, an AyalaLand subsidiary that develops affordable and sustainable houses and condominiums for Filipinos, foresaw the need to serve Bacolod’s rapidly increasing number of aspiring homeowners with Amaia Scapes North Point, a condominium project that offers well-designed studio and

deluxe residential units, some of which feature balconies that look out on stunning views of the city and vast open spaces.

In October, however, Amaia Scapes North Point is pushing the envelope further by launching its new modern unit series called the Townhome, with sizes ranging from 45 square meters to 80 sq m, and the Bungalow Pod New Gen, with sizes ranging from 60 sq m to 85 sq m.

Rising on San Juan Street, Barangay 8, Bacolod City in Negros Occidental, Amaia Scapes North Point, which boasts a total project area of 3,625 sq m, will give future residents convenient access to institutional, medical, and commercial establishments, especially with

transport stations for jeepneys and tricycles— and ferry service—in the vicinity.

This Amaia project is also near an upcoming AyalaLand commercial development and the Bacolod-Silay International Airport is just 13 kilometers away.

As in all other AmaiaLand properties, Amaia Scapes North Point will feature recreational facilities, such as an adults’ swimming pool, a children’s pool plus play area, a large landscaped garden, and a multipurpose venue for the use of residents and their guests.

This Amaia property will also have 102 secure parking slots.

Consistent with Amaia’s vision of making high-quality homes accessible to all Filipinos, convenient and easy-on-the-pocket payment schemes, such as cash, deferred cash and bank financing are options for prospective Amaia Scapes North Point residents.

Amaia continues to serve prospective homeowners with affordable and sustainable developments that aim to elevate the Filipino living experience in a well-secured environment.

For inquiries about Amaia Scapes North Point properties and other Amaia projects, check out www.amaialand.com or like www. facebook.com/AmaiaLand.

REMEMBERING THE LEGACY OF WILLIE J. UY

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990 Holdings Inc. has achieved many milestones in the past 16 years. However, none of these successes would have been possible without the leadership of its late president and CEO, Willibaldo “Willie” J. Uy, who was president and chief executive officer of 8990 Holdings Inc. since January 2018.

His journey with 8990 began in 2012, when he was invited to be the company’s independent director. He subsequently became 8990’s chief operating officer in 2016, following his retirement as president and chief executive officer of his previous company, Phinma Properties Holdings Corp. Given his experience in the real-estate sector that spanned more than three decades, Uy become the natural choice to become 8990’s president and CEO in 2018.

He strongly believed that every hardworking Filipino deserved a good home. That’s why nothing could compare to his passion for providing quality affordable homes.

It was his steady presence and shared belief in 8990’s vision that helped the company maintain its position as one of the top affordable housing developers in the Philippines.

With his guidance, 8990 was able to hit its full-year 2018 revenue target of P11.7 billion and paved the way to reach revenues of P20 billion in 2020.

But more than hitting targets, Uy instilled in his employees the importance of making an everlasting impact on the lives of Filipinos.

Little did Uy know, he himself left a huge impression on everyone at 8990.

It’s true that his work ethics were unquestioned and highly respected but Uy always went about with a smile on his face. Every staff member would remember his kindness and how approachable he was regardless of his position.

It’s the reason he became the embodiment of the company’s values. Inspired by him, 8990 always aims to provide good-natured service.

While the entire company mourns for his untimely death, it is also determined to let his legacy live on. Under the tutelage of the current COO, Alexander Ace Sotto, 8990 will continue Willie Uy’s goal of reaching another milestone of P20 billion revenue target in 2020. Rest assured, his dream of building quality, affordable homes for the Filipino people will never be lost.

WILLIBALDO “WILLIE” J. UY Prior to his passing, Uy was working on developing a sustainable housing finance program that is poised not only to benefit 8990 but the entire real-estate industry in the years to come. In his memory, the company will make sure to oversee the successful implementation of this project.

Willie Uy’s contributions were a blessing to a number of Filipinos nationwide. He will be dearly missed.

and productive environment by integrating technology, systems and structure.

Activa Office Tower is another key component in this development. It has 14-stories of typical office floors ideal for business-process outsourcings and knowledge-based companies. Similar to Activa Flex, this office tower is also equipped with fiber optic cable and telecommunications backbone for highspeed connectivity. It also boasts of acquiring a Gold LEED pre-certification, a rating system that aims to accelerate the development and implementation of “green” building practices. The office tower will, likewise, feature N+1 emergency backup power and a rooftop

garden that will offer a splendid view of the city’s skyline.

Other components of this mixed-use concept are the hotel, mall and residential condo—Activa Hotel will feature 11 premium floors with 200± well-appointed rooms, all-day dining, function rooms and rooftop amenities, such as an infinity pool, sunset bar, fitness center and a themed café.

Activa Mall, on the other hand, is a fivelevel shopping and leisure complex with a retail podium, specialty retail establishments, alfresco area, food hall, cinema, supermarket, wellness hubs, fashion boutiques and digital establishments.

This year, Activa Flats, a 32-story premium residential tower that provides efficient and functional living spaces suited for young professionals, newly married couples, and start-up families, even for those looking for a sound and productive investment is set for its grand launch. This building will also feature four high-speed elevators, infinity pool, sky terrace with barbeque deck and a fitness gym.

“We are very excited to launch Activa.

We invite you to get to know more about this project, which is now on its construction stage. Buyers can enjoy investment growth even prior to project completion.

Filinvest foresees an upsurge in Activa’s investment value when new infrastructures and businesses are in place a few years from now,” added Cordero.

Activa expands Filinvest’s footprint in developing vertical mixed-use projects, such as 100 West in Makati and Studio 7 in Quezon City bearing the company’s brand of quality and excellence found in all of its real-estate developments. www.filinvest.com.

THE MARK OF FILIGREE

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HEN luxury real-estate brand Filigree was created almost three years ago, its DNA were very clearly defined: to offer exciting projects for a clientele that would appreciate refinement, subtlety and quality.

As such, Filigree’s portfolio is predicated on offering Metro South’s best kept secrets of quality amenities, enviable and prestige locations, and exclusivity.

All set in Metro Manila’s exclusive addresses, each Filigree project is masterfully crafted by world-class designers to create generous living spaces and well thought-out amenities fit for a specific lifestyle.

The Beaufort, nestled within Bonifacio Global City, Taguig, is an escape within the busy city with its hotel-like lobby and common areas that exude exclusivity, privacy and security.

With only four units to a floor, the world-class two-tower condominium is sold out.

Botanika Nature Residences for well-todo individuals who enjoy a healthy balance of urban-suburban living. This low-density residential development is awarded the Asia Pacific Property Awards for Best Apartment with five-star rating and has been BERDEcertified, which means it has met mandatory standards of green building projects. Found in the secluded portion of Filinvest City, Alabang, Botanika ensures utmost peace and quiet within the building. Only 10 units to a floor, with smallest unit at 123 square meters for one-bedroom unit, Botanika is 70 percent sold with only a few units left.

For goal-oriented young adults and established professionals looking for a worthy investment, there is Bristol at Parkway Place.

The majestic 40-story tower is situated at the

corner of Corporate and Parkway Avenues, also known as the Millionaire’s Row. All units are built with a balcony, giving residents a panoramic view of the cityscape that stretches out to Laguna de Bay. Riding on Filinvest City’s growth momentum, Bristol is fast-selling with leasing rates on a constant upswing.

The Enclave Alabang is a match for growing families who are after exclusive, low-density communities. It is a sprawling 13-hectare residential village along Daang Hari Road which was recognized as The Best Residential Development in the Philippines by Asia Pacific Property Awards for its thoughtful master plan and world-class features—from its treecanopied entrance, remarkable Central Park, man-made lagoon, and down to its residential spaces. Since its launch, its land value has exponentially increased. With Phase 1 sold out, The Enclave Alabang recently launched its Phase 2, and with positive response from investors and buyers, is almost sold out.

“Every project under Filigree is made with the intention of providing all the needs of the more discriminating market. With our projects located in prime areas of Metro South, residents can enjoy the laidback and easy nature of the south, while still having all of life’s necessities within easy reach,” shared Filigree Head Kate Ilagan.

Proud of what Filigree has accomplished in such a short period in terms of real-estate “life,” it is not resting on its laurels as it continues to deliver on its brand promise of redefining modern luxury living, while offering excellent investment opportunities through its four pioneer projects and future developments.

To know more, visit www.filigree.com.ph.

Entrepreneur BusinessMirror

E4 Wednesday, October 30, 2019 • Editor: Vittorio V. Vitug

From tribal lands in South, enterprise brings hand-woven textiles to mainstream market

By Rizal Raoul S. Reyes

@brownindio

Contributor

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T was not a conscious decision on Fawziyyah Maridul’s to establish Malingkat Enterprise but it was rather a confluence of various factors, foremost among which was that she wanted to showcase the rich and beautiful weaving traditions of Muslim Mindanao.

“I am a Tausug on my father’s side and I’d like to make hand-woven textiles more accessible to a wider market of Filipinos,” Maridul said in an e-mail interview with the BusinessMirror.

Malingkat Enterprise, one of the awardees of the recent BPI Sinag competition, currently sells handwoven fabrics sourced from their partner weavers from indigenous tribes, such as Maranao, Yakan and Tausug, and even community weavers from Abra. Moreover, Malingkat Enterprise works directly with individual weavers and their extended family because it believes it can create a more measurable impact.

“We produce home décors and lifestyle products featuring the woven fabrics, focusing mostly on small

items like reusable bags, pouches, espadrilles. We envision every Filipino carrying a piece of our heritage and culture wherever they go through our products,” she said.

Maridul had to endure a lot of challenges because the entrepreneurial space was something totally new to her, having come from the corporate/private sector. She also had that constant need to strike a balance between being a profitable enterprise and fulfilling its thrust of giving back to their artisan and community partners, making hand-woven pieces affordable and accessible to as many Filipinos as possible, and making sure the personalities and traditions behind each hand-woven piece are properly recognized and compensated.

MARIDUL

“This is an ongoing challenge if I may so, but thanks to learning and mentoring programs like those initiated by BPI Foundation and Bayan

Academy, we are slowly and steadily learning how to be a sustainable enterprise and still staying true to our cause,” she said.

Malingkat was fortunate there were some relevant programs like the BPI Sinag and like-minded individuals who are seasoned social enterprise advocates who supported her enterprise during its fledgling days.

Despite the bumps along the way, Malingkat is here for the long run.

It is currently working on expanding their current product lineup, partnering with more weavers from different communities and tribes, and widening its market reach beyond the Philippines by maximizing the online retail space.

For Maridul, entrepreneurship is not just all about making a profit.

More important, Maridul said, it is about adding value to the lives of everyone involved in the process, or in the enterprise. In Malingkat’s case, it starts from their sewer and weaver partners whose skills, talents and traditions Malingkat aims to showcase and extends to the customers who get to bring a piece of Philippine heritage with them wherever they go with every Malingkat product they buy.

“Entrepreneurship is also about grit. There are and there will be many challenges, but you have to remain steadfast and committed to your goals and cause because it’s not just about you, it’s also about lives and dreams of the people working behind the scenes,” she said.

Malingkat is available through Instagram @malingkatweaves, and on Facebook as Malingkat Weaves.

Facebook boosts digital, marketing skills of entreps, local communities

By Roderick L. Abad

@rodrik_28

Contributor

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ECOGNIZING that capacity building is needed to achieve success on both public and private initiatives, Facebook has given small-scale enterprises and local communities a big boost with the right learning and tools during a three-day digital literacy and marketing workshops held last week at the Grand Hyatt Manila in Bonifacio Global City, Taguig.

In cooperation with the Philippine Departments of Information and Communications Technology, Trade and Industry, and Tourism, the Facebook Community Boost Manila formed part of the socialmedia company’s global effort to equip entrepreneurs, nonprofit organizations and youth leaders with the right resources to develop critical skills required to grow their businesses, advance their advocacies and causes, and reach their target market.

“Empowering people to build

communities is core to our mission at Facebook. It’s what drives us to build tools and resources for inspiring community leaders and entrepreneurs who work hard to bring people together around shared passions, common causes, and important topics,” said John Rubio, country director of Facebook Philippines.

This initiative provides a holistic approach to empowering local communities with a wide range of content—from digital marketing, digital literacy and safety, driving online advocacies, to mentoring and supporting young leaders on responsible online citizenship.

During the event attended by more than 700 entrepreneurs, government representatives and community leaders, inspiring stories of various organizations were highlighted to show the impact of Facebook Community Boost in their respective endeavors.

One of them was Xavier University-Ateneo de Cagayan Development Communication Society

(XU DevCom Society). Winning as among the top teams in Facebook’s Digital Youth Summit (DYS) 2018, this organization utilized Facebook to establish and strengthen their communities.

XU DevCom Society launched # O p e r at ion He a r t A t t a c k v i a #TheSMLProject. SML stands for Social Media Literacy.

The group encouraged their community to spread love (heart emojis) online instead of showing hatred.

Their campaign got more than 5,000 engagements online.

“DYS provided us with guidance from mentors and additional resources for shaping our advocacy and enhancing our activities. And through #TheSMLProject, we were able to raise awareness on the importance of a culture of positive reinforcement on social media, and turning away from the online mob mentality,” said Jalen Elarmo of XU DevCom Society.

Nonprof it Bayan Academy for Social Entrepreneurship and Human Resource Development

(Bayan Academy) started small with an end-goal of reaching as many aspir ing entrepreneurs from marginalized communities nationwide.

“Ultimately, Bayan Academy’s goal is to reach aspiring Filipino entrepreneurs in the grassroots and empower them with the critical, entrepreneurship, and management skills they need to find sustainable livelihood and improve their living standards. We want to introduce them with technologies and tools to start their business, grow their audience, and meet their goals,” said Philip Felipe, executive director and chief operating officer of Bayan Academy.

The event, likewise, sought to assist participants to connect with like-minded organizations and individuals.

Entrepreneur Celia Alamo Jacob shared her success story as she transformed her start-up business, Brownroots Creatives, by using Facebook’s #SheMeansBusiness, another digital literacy

training initiatives organized by socia l net work f ir m w ith Connected Women.

“I started my shirt printing business in 2007 and have also offered ‘Business in a Box’ workshops for work from home moms, freelancers and creatives. We support budding entrepreneurs from setting up a small online store, assisting them through design mockups, all the way to drop shipping.

And through the #SheMeansBusiness events I attended, I was able to connect with like-minded women who want to update their skills and thrive in the digital world,” she said.

To help others achieve success, Alamo now shares the digital marketing knowledge and skills she gained from these events in her own business coaching and workshop sessions.

Facebook Community Boost events were recently held in Cebu and Dumaguete. In conclusion of its run for this year, it will be held in Davao City on November 22.

www.businessmirror.com.ph

Expo seeks to create more online entreps

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ORE Filipino entrepreneurs can grow their business if they adapt to digital technology.

This was the main message during the SIGN UP! Angat Lahat sa Digital Summit 2019, the biggest mobile app summit and expo in the country that gave Filipino entrepreneurs a learning opportunity on how to turn business ideas into actual products and services.

Organized by Go Negosyo, the record-breaking summit attracted thousands of participants as major digital platforms opened its doors to skilled Filipino workers, as well as micro, small, and medium enterprises to give inspiration and awaken the untapped entrepreneurial potential. Their objective was to educate entrepreneurs on the use of technology and digitalization, and its crucial role in the development of MSMEs. “It is crucial to let more Filipinos understand that the use of these platforms is the way forward. This has led us to create the digital alliance, to come together to help many of our skilled workers and MSMEs. This is the beginning of real change,” said Presidential Adviser for Entrepreneurship and Go Negosyo Founder Joey Concepcion.

In line with the event’s purpose, Carousell, one of the world’s largest and fastest-growing classified marketplaces, and also one of the partners during the summit, continues to revolutionize the e-commerce space in the Philippines by being a platform that supports microentrepreneurs.

Carousell Philippines Head of General Classifieds Tina Bautista emphasized how technology is bringing ease and innovation to the world of business. “At Carousell, we have hundreds and thousands of sellers on the platform selling different products. If you have any technological device and the willingness to learn, you can find a way to sell your products online. Going digital is what any entrepreneur should do because almost everyone owns a phone—you are exposed to a wider market,”she said.

According to Bautista, up to a third of the products and services listings on Carousell were posted by microentrepreneurs with most of them selling fashion, electronics and furniture.

This figure is expected to grow as Carousell takes part in the Angat Lahat sa Digital Alliance, which is composed of different digital platforms that help MSMEs by providing effective insights and business strategies. Other platforms that are also part of the alliance include Grab, Angkas, Lalamove, QuadX, and Cashalo, among others.

Carousell also hosts a number of features that should appeal to entrepreneurs. Paid features, such as the Bump and Top Spotlight, make sellers’product listing more visible to potential buyers, while features powered by artificial intelligence, such as the category price suggestions, ultimately make it easier and faster for users to post their listings.

For more information on Carousell, head over to https://one.carousell.ph/ and download the Carousell app from the Apple Store or Google Play Store.

How tech and ₧500 paved the way for ‘Pandalivery’

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ICOL region’s Pandalivery— a delivery service that is like a combination of Lazada and Grab Food—began with almost nothing except a college student’s drive to start a business.

“I started with just P500, using a Facebook page [as a platform], and my elder brother’s motorcycle [to deliver products],” Pandalivery Chief Executive Officer and Founder Jude Salvador Buelva, told the Philippine News Agency in an interview.

That was in 2017, when his parents did not like his idea that it took him six months to convince them to invest. In January 2018, the Pandalivery app was born, which he outsourced.

Buelva described Pandalivery as a “minimized Lazada, but for the locals.”

“It’s a localized platform, not

just for the [app] users. It really helps the province, online store owners,” he said.

One could purchase various items using the Pandalivery app— from over-the-counter medicines, clothes from ukay-ukay, to groceries and food.

Pandalivery enables small businesses to have an app to expand their market and sell their products, he explained.

At present, Pandalivery operates in the cities of Naga and Legazpi, but Buelva targets to roll this out soon in Daet, Camarines Sur. “We would like to uplift the provinces using our services,” he said.

The third year IT student from Ateneo de Naga University has 90 partners selling via the Pandalivery app. From being on his own and using his brother’s

motorcycle, he now has 15 driverpartners and 10 dispatchers. He gets an average of 120 orders per day, too.

Buelva said partner-drivers earn from commissions. “Some of them earn an average of P800, which is higher than our P300 local minimum wage,” he said.

One could order via the Pandalivery from 10:30 a.m. to 11 p.m., for a minimum delivery charge of P35, depending on the distance.

The items displayed on the app are those that are available in the store owner’s stock. The buyer could also choose the expected time of delivery.

In case of a defect in the items purchased, Buelva said Pandalivery would pick these up and have these replaced by the store owners. As part of customer service, the items will be delivered

back to the buyers, free of charge, he said.

Buelva was at the IdeaSpace event in Makati City last Tuesday, where Pandalivery and other startups showcased their products.

“I joined the [IdeaSpace] community because I like to learn from them. I’m still a college student and I don’t have so much of an entrepreneurial mindset,” he said.

The young entrepreneur said he would like to reach more provinces in the future, and give small businesses a chance to develop something without spending too much.

He said those who would like to partner with Pandalivery may give him a call and see the details in Pandalivery’s web site. “[At Pandalivery], we prioritize the locals. We aim to provide them with more affordable local retail products,” Buelva said. PNA

PANDALIVERY Founder and Chief Executive Officer Jude Salvador Buelva attends to an inquiry from one of the participants of the IdeaSpace event in Makati City on Tuesday, October 22, 2019. Buelva started his business venture with just P500. PNA PHOTO BY CRISTINA ARAYATA