BusinessMirror September 28, 2022

Agri...

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“Affected commodities include rice, corn, high-value crops, live stock and poultry, and fisheries. These values are subject to vali dation,” it added.

The DA-DRRM OpCen’s latest report showed that two-thirds or about P959.8 million of the total recorded damage was in the

rice sector. The report showed that Karding affected 138,843 hectares of rice farms, damag ing 63,115 metric tons (MT) of palay.

The high-value crops (HVC) sector has now registered P271.4 million worth of production loss after Karding affected 1,103 hectares of assorted fruits and vegetables with an estimated vol ume loss of 7,465 MT.

The STY's damage to the corn sector has now reached P40.5 million, according to the DADRRM OpCen report. The report

indicated that 1,366 hectares of corn farms were damaged with a production volume loss estimat ed at 1,629 MT.

The fisheries sector has in curred P17 million worth of loss es while the livestock and poul try sector recorded P560,000 in damage.

Agriculture Undersecretary Kristine Y. Evangelista said the DA is closely monitoring the im pact on the country’s food supply and prices of Karding's damage to the farm sector.

Nonetheless, Evangelista

assured the public that the country has sufficient supply of rice and vegetables, the two commodities most affected by Karding.

The DA continues to coordi nate with concerned national government agencies, local gov ernment units and other DRRMrelated offices for the impact of Karding, the DA-DRRM OpCen said.

The DA-DRRM OpCen said the DA has prepared millions worth of interventions to help farmers and fisherfolk cope with

the damage caused by Karding to their farms.

“The following assistance are available for distribution to affected farmers and fish ers: P27.47 million worth of rice seeds, P13.23 million worth of corn seeds and P12.64 mil lion worth of assorted vegetable seeds,” it said.

It added that "P2.45 million worth of animal heads, drugs and biologics for livestock and poultry. Fingerlings and fishing paraphernalia to affected fisher folk from Bureau of Fisheries and

Aquatic Resources [BFAR]” will also be available.

The DA-DRRM OpCen added that typhoon-affected farmers and fisherfolk may avail them selves of P25,000 worth of loan payable in three years at zero interest through the Agricultural Credit Policy Council’s Survival and Recovery (SURE) Loan Pro gram.

The DA has a P500-million quick response fund to rehabili tate the affected areas, according to the DA-DRRM OpCen. Jasper Emmanuel Y. Arcalas

The unshakable faith of San Lorenzo Ruiz

DND admits PHL still in the process of ending Russian chopper deal

THERE is no certainty that the government could still recover the P1.9 billion that it paid as down payment for the 16 Mi-17 heli copters that it ordered from a Russian supplier, but whose contract it was al ready moving to terminate.

CATHOLICS

celebrate today the Feast of San Lorenzo Ruiz, the first Filipino saint and martyr.

Born in Binondo, Manila on No vember 28, 1594 to a Chinese father and Filipino mother, Lorenzo served as an altar boy at the Binondo church. Later on, he got his education from the Dominican friars and became an escribano (clerk), before joining the Confraternity of the Most Holy Rosary.

Lorenzo lived a peaceful, religious life with his wife Rosario and their three children. However, in 1636, while working as a clerk at the Bi nondo church, Lorenzo was falsely accused of killing a Spaniard. Fearing for his liberty, Lorenzo, along with three Dominican priests, sought asylum on board a ship bound for Okinawa, Japan, not knowing that more tragedy awaited them. They set sail on June 10, 1636.

They arrived in Japan at a time when Christians were being perse cuted by the Tokugawa Shogunate. They were arrested and imprisoned, and later on subjected to different types of torture after being trans ferred to Nagasaki.

After more than one year in cap tivity, Lorenzo and his companions were hanged upside down a pit on Nishizaka Hill on September 27, 1637, to make them renounce their Christian faith. But Lorenzo’s belief remained intact and he refused to give up Christianity. He died from loss of blood and suffocation on September 29, 1637, his body was cremated and his ashes were thrown into the sea.

According to accounts sent by Latin missionaries back to Manila, before he breathed his last, Lorenzo made this now famous declaration: “I am a Catholic and wholeheart edly do accept death for God; Had I a thousand lives, all these to Him shall I offer.”

Pope John Paul II beatified Loren zo Ruiz during his first papal visit to Manila on February 18, 1987. Six years later, the Filipino martyr be came the first Filipino saint when he was canonized by Pope John Paul II in Vatican on October 18, 1987.

leader Eternal Gardens pays homage to San Lorenzo Ruiz by building pla zas in his honor at some of its parks. The company’s founder, the late Ambassador Antonio L. Cabangon Chua, was active in promoting the canonization of then Beato Lorenzo, which paved the way for him to get an audience with John Paul II.

On his Feast Day today, the branches of Eternal Gardens in Baesa, Caloocan City and Biñan City,

Laguna will celebrate the Blessing of the San Lorenzo Ruiz Columbarium in their respective parks. The events will start with thanksgiving masses, followed by the ribbon-cutting and blessing proper.

Built to provide a more economi cal alternative to traditional burial, each crypt at the San Lorenzo Ruiz Columbarium can accommodate up to two urns. The columbarium at Eternal Gardens Baesa, the com

pany’s maiden branch, offers over 2,000 units of crypts, while the one at the Biñan Park has over 500 units.

The San Lorenzo Ruiz Colum barium is a product of Eternal Cre matory, an affiliate of Eternal Gar dens, Eternal Chapels, and Eternal Plans. All companies belong to the ALC Group founded by Ambassador Cabangon Chua, which is currently headed by its chairman, D. Edgard A. Cabangon.

T his cropped up during the hearing on Tuesday of the Senate’s sub finance committee chaired by Senator Ron ald “Bato” dela Rosa on the proposed P310.9-billion budget of the Depart ment of National Defense (DND) for next year.

Defense Officer in Charge Jose Faustino Jr. told the dela Rosa com mittee the DND is likely to experience difficulty in seeking for the return of the down payment as the contractor, SOVTECHNOEXPORT LLC, has al ready spend the downpayment money for its projects.

[We may encounter] difficulty in working for the refund as the supplier has also invested the funds,” Faus tino told dela Rosa, who asked the DND about the status of the scuttled contract worth P12.9 billion with the Russian defense manufacturer.

A ccording to the senior defense undersecretary, the down payment was paid to the Russian company on January 10 this year before the con tract for the acquisition of the 17 Rus sian helicopters was rescinded by the Duterte administration, days before it left office.

Rene Acosta

Eternal Gardens honors San Lorenzo Ruiz Philippine memorial care industry

BusinessMirror

Experts urge LGUs to invest in disaster response, climate change adaptations

By Cai U. Ordinario @caiordinario

ing what has been damaged by di sasters like typhoons.

Revised BOT law’s IRR to attract more private sector players, Neda chief says

LOCAL

government units (LGUs) should invest more in efforts that make communi ties better equipped to face disasters and climate change, according to an urban planner.

I n a recent webinar of the 8th Annual Public Policy Conference (APPC) organized by the Philip pine Institute for Development Studies (PIDS), Philippine Institute of Environmental Planners fellow Nathaniel von Einsiedel said LGUs lack investments in prevention and risk reduction.

E insiedel said LGUs must aban don their reactive approach to managing disasters, which limit their response to post-disaster impacts. This means LGUs only prepare for repairing and rebuild

We do not find enough invest ments in planning tools among poorer LGUs. They do not even have enough permanent personnel to manage GIS [geographic information system] mapping functions. LGUs are at the forefront in their territories. Sadly, many of them do not have adequate personnel and equipment, making it very difficult [for them] to perform their functions,” Einsiedel said.

E inseidel said mainstreaming disaster risk reduction and manage ment and climate change adaptation in local development plans is a big part of building resilient people and cities.

He said governments must en able people to adopt productive and sustainable livelihoods that can survive and thrive even during difficult situations.

T he urban planner also stressed

that while policies are in place at the national level, various challenges impede their implementation at the LGU level.

We must invest more in disas ter prevention, risk reduction, and mitigation. We find that especially in poorer LGUs, there is a strong reactive post-disaster relief and rescue opera tion focus and not much on preven tion and risk reduction,” he said.

Einsiedel also stressed that eradi cating poverty and hunger are key to building resilient Philippine cities.  The country’s long-term local eco nomic development plan, he said, must include situation-based recov ery measures that could be imple mented based on the circumstances and characteristics of a disaster.

In the same virtual forum, United Nations Development Programme in the Philippines Climate Action Team Leader Floradema Eleazar

highlighted the role of analytical work and stakeholder consultation in building inclusive resilience.

She noted that understanding and recognizing the context of risks and their interconnected dimensions could enable capacities for resilience “that leaves no one behind.”

“ It is important to have a good understanding of context-specific and area-based situations and de velop specific approaches for certain localities,” she said. “Communitylevel initiatives, participation, and people-centered approaches are essential in addressing risks and achieving resilience.”

T he APPC is the highlight of the yearly Development Policy Re search Month celebration led by PIDS every September. This year’s theme is #CloseTheGap: Accelerate Post-pandemic Recovery through Social Justice.

ADB to allot $14B to AsPac to ease worsening food crisis

R ayyan Hassan, executive direc tor of NGO Forum on ADB, an Asianled network of over 250 CSOs world wide, said the public interest and the public need have to be placed above all interests, especially when using Multilateral Development Bank (MDB) finance.

“We remain vigilant on whether

ADBs next phase of lending is propeople and pro-environment, and let the Bank remain open to hearing criti cal views from the ground when it de rails from that agenda,” Hassan said.

The network is also raising its col lective concerns about the debt crisis and political situation in Sri Lanka.

According to Hemantha Withanage,

from the Colombo-based Centre for Environmental Justice (CEJ), the country is mired in debt and em broiled in a food and energy crisis.

Withanage said many infrastruc ture projects and borrowings also became a source of corruption in the past 20 years. He thinks ADB should take responsibility for these systemic

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problems as a policy.

We believe ADB should cancel some ineffective and unfair debts and encourage other multilateral and bilateral lenders to do the same; it is time to assist the humanitarian crisis and avoid pushing draconian laws,” Withanage said.

T he network is also raising con cerns on the Energy Transition Mechanism (ETM) scheme that ADB is piloting in practice. Avril De Torres from the Center for Energy, Ecology, and Development (CEED), an organi zation based in the Philippines, said many questions remain unanswered about the ETM.

THE latest version of the Build Operate Transfer (BOT) Law’s Implementing Rules and Regulations (IRR) is expected to entice more private sector play ers to participate in public infra structure projects, according to the National Economic and Develop ment Authority (Neda).

O ne of the major changes is on the definition of the Mate rial Adverse Government Action (MAGA), which now covers all government actions and not just the Executive branch.

I f these government actions dis criminate against the proponent and have adverse effect on its abil ity to undertake the project, the contract can be terminated and termination payment will be due to private proponents.

Based on the feedback about the previous version of the BOT IRR we got from the private sector and other stakeholders, we revised the provi sion on the MAGA to make the risk allocation more fair,” Socioeconomic Planning Secretary Arsenio M. Bali sacan told the BusinessMirror on Tuesday. “The revised provisions are standard across markets, which should give comfort to international investors and lenders.”

Under the previous BOT IRR re vision, the MAGA only referred to “any act of the Executive branch” and that acts of agencies, local gov ernment units (LGUs) as well as the legislative and judicial branches of government are not covered.

However, this was removed in the latest version leading MAGA to apply to all acts by the government, including all three branches of gov ernment, line agencies and LGUs.

T he MAGA provision also now covers approved contracts as op

posed to the old version which only states that the provision applies to “obligations under the contract.”

“It has cured a number of per ceived defects of the old IRR. Think the new IRR is more responsive and clearer to potential investors,” Fi nance Secretary Benjamin Diokno told reporters via Viber on Tuesday.

Last week, the Cabinet-level Com mittee on the BOT-IRR approved the proposed amendments to the 2022 IRR of the BOT law.

T he committee took into con sideration the inputs solicited from stakeholders during the face-toface public consultation held on September 13.

T he BOT IRR Committee ac knowledged receipt of 91 comments during the public consultation proper and 213 written comments in total.

B alisacan underscored the im portance of approving the proposed amendments, as the IRR would bolster the government’s capabili ties in addressing pressing issues such as inflation, poverty, and prolonged socioeconomic scarring from Covid-19 through public pri vate partnerships (PPP).

T he BOT IRR Committee is chaired by the Neda and co-chaired by the Department of Finance. Com mittee and members include the De partments of Agriculture, Energy, Environment and Natural Resources, and Information and Communica tions Technology.

Other members include the De partments of the Interior and Lo cal Government, Public Works and Highways, Trade and Industry, and Transportation, as well as the PublicPrivate Partnership (PPP) Center, which serves as member of and sec retariat to the Committee.

Cai U. Ordinario

Millers assure continuous investments to upgrade domestic sugar production

By Jasper Emmanuel Y. Arcalas @jearcalas

THE Philippine Sugar Millers Association (PSMA) on Tues day said that the industry would continue to invest to improve its operations amid concerns about the country’s competitiveness and “aging” mills.

In news statement, PSMA allayed concerns regarding the sugar milling industry’s capacity and efficiency to produce raw sugar amid the country’s tight supply for the commodity.

Unknown to many, sugar facto ries in the country have been under going rehabilitation and moderniza tion to cope with the changing mar ket environment,” PSMA said.

PSMA added the modernization of sugar mills started when the gov ernment decided to privatize govern ment-owned factories and when the sugar industry was included in the Investment Priorities Plan (IPP) in the 1990s.

During this period alone, mills have invested P20 billion on new production systems and operations,” PSMA said.

T he PSMA noted that the number of sugar mills in the country has been reduced to 28 from 41 in the 1990s.

“Most of those that did not imple ment upgrades have stopped operat ing,” PSMA explained.

PSMA Deputy Director for  Pro grams Oscar L. Cortes explained that the Sugar Regulatory Adminis tration (SRA) keeps track of “all new equipment installed by the mills.”

Cortes added that the year of es tablishment of a sugar mill is “not indicative of the condition of the installed equipment and technical performance.”

“Industry reports published by the SRA show that sugar recovery has increased from 78 percent in the 1990’s to more than 81 percent in the last three years,” PSMA said.

Earlier this month, the new SRA board disclosed that it would  pri oritize attaining the country’s sugar self-sufficiency instead of security as ordered by President Ferdinand R. Marcos Jr.

SRA board members led by SRA Administrator David John Thadde us Alba revealed that the marching order of Marcos is for the country

to achieve self-sufficiency in sugar, which means reducing dependency on imports.

A lba pointed out that the SRA would improve the country’s sugar production by providing “direct” services to farmers, particularly to agrarian reform beneficiaries who have comparatively lower output.

T he direct services, Alba ex plained, include advancement in re search and development, improved laboratory services, among others.

A lba added that the SRA will implement a “big brother, small brother” program that would allow mentoring among sugarcane farm ers, especially between those pro ducing higher yields and those with lower yields.

SRA board member Ma. Mitzi Mangwag, who represents the milling sector, said she would advocate  for better sugar milling efficiency.

“ To be more efficient we need better quality canes. It takes two to tango,” she said. “We will work hard to surmount the challenges ahead in order for the sugar industry to come out stable in the end,” Mang wag added.

DTI tightens product standard regulation on widely-used monobloc chairs, stools

THE Department of Trade and Industry (DTI) has issued the new technical regulation for monobloc chairs and stools, under scoring the importance of quality for the safety of users as it is commonly used in offices and public multipur pose halls.

DTI has issued Department Ad ministrative Order (DAO) 22-09, series of 2022 providing the new technical regulation concerning the mandatory product certification of monobloc chairs and stools.

“Monobloc chairs and stools have long been included in the DTI-BPS’s [Bureau of Philippine Standards] list of products under mandatory certification. Since they are house hold staples and are commonly used in offices and public multipurpose halls, it is very important to ensure their quality for the safety of the users,” DTI-Consumer Protection Group (CPG) Undersecretary Ruth B. Castelo said in a news statement released by DTI on Tuesday.

Castelo emphasized that the updat

ed product standards include specified requirements for monobloc chairs and stools meant for outdoor use.

With DAO 22-09, we have updat ed the reference product standards and specified the requirements and tests for monobloc chairs and stools intended for outdoor use. This in cludes weatherability test wherein the product is exposed to laboratory conditions that accelerate the effect of natural weathering, thus ensur ing their suitability outdoors,” she added.

San Juan

NG allots ₧15.2 billion to DMW in 2023 NEP

By Cai U. Ordinario @caiordinario

THE national government (NG) has allocated P15.2 billion for the Department of Migrant Workers (DMW) under the 2023 National Expenditure Program (NEP), according to the De partment of Budget and Management (DBM).

DBM said of the amount, P3.5 billion is earmarked for the DMW’s Office of the Secretary, of which, 77 percent or P2.7 billion goes to the Overseas Employment and Welfare Program. This also includes P1.2-billion AKSYON Fund pursuant to Republic Act No. 11641, which also placed the Overseas Workers Welfare Administration (OWWA) under the newly created DMW.

Our OFWs [overseas Filipino workers] are our modern day he roes. We honor their sacrifices, as they work hard to uplift the lives of their families and to enhance our country’s economy through their remittances,” DBM Secretary Amenah Pangandaman said.

A s such, under the 2023 NEP, a budget allocation amounting to P10.039 billion is earmarked for the Emergency Repatriation Pro gram of OWWA. This covers a number of 367,287 OFWs to this day.

T he program also provides assistance in bringing back distressed OFWs and remains of OFWs who expire in other countries back to the homeland. OFWs are provided with adequate help, temporary shelter at the OWWA Halfway Home, psychosocial counseling, stress debriefing, and transport services to their respective localities.

Other programs included in the DMW budget allocation for 2023 are the Overseas Employment Regulatory program, Labor Migration Policy and International Cooperation program, Maritime Research and Skills Competency program, and Provision for OFW Hospital and Diagnostic Center under the Overseas Employment and Welfare program among others.

“ We know and feel the difficulties our kababayans face by being far from their loved ones, and we continue to ensure that they will be afforded with the appropriate support they need,” she added.

T his is in line with the Marcos administration’s commitment to uphold the welfare of OFWs and ensure the efficient delivery of ser vices and assistance to them.

T he budget chief added the DBM is in full support of the Presi dent’s advocacy for the betterment of our OFWs’ condition.

Senators give 3rd-reading okay to bgay and SK polls deferment, SIM registration, safe pathways

By Butch Fernandez @butchfBM

THE Senate, voting 20-0 with no abstention, passed on third and final reading Tuesday a much-awaited bill requiring reg istration of subscriber identity modules (SIM) cards in a bid to halt the alarming rise in mobile phone-enabled cyberfraud.

T he bill’s main advocate, Sen. Grace Poe, thanked her colleagues for helping fast-track the bill, which she said has been awaited both by financial institutions and law enforcement agencies.

Senate Bill (SB) No. 1310 or the proposed “SIM Registration Act” hurdled the upper chamber on third and final reading with 20 af firmative votes, and no negative votes or abstention from senators.

T he bill, sponsored by Sen. Grace Poe, chairperson of the Senate Committee on Public Services, is the first legislative measure passed by the upper chamber in the 19th Congress.

Re-filed in the 19th Congress, the measure seeks to regulate the registration and use of SIMs by mandating subscribers to register with telecommunication entities before SIMs are activated. Existing sub scribers must also register or risk deactivating or retiring their SIMs.

Registration includes the submission of full name, date of birth and address of end-users, as well as valid government-issued iden tification cards to verify their identity.

SB 1310 also prohibits “spoofing,” or the act of transmitting mislead ing or inaccurate information about the source of phone call or text mes sages to defraud, cause harm, or wrongfully obtain anything of value.

T he bill also penalizes the sale of stolen SIMs.

Telcos, on the other hand, would be tasked to keep the subscrib ers’ information in a database, while the Department of Information and Communications Technology shall conduct an annual audit of their compliance with information security standards.

A ll submitted information are “absolutely confidential”, but may be disclosed if a competent authority subpoenas them for an inves tigation of a crime, or a malicious, fraudulent or unlawful act com mitted using a specific mobile number.

Finally, we can now do something aside from just ignoring, de leting or blocking the numbers with fraudulent or spam messages,” Poe said.

“ We have now in our hands the means to unmask criminals who have been hiding for so long under the protection of anonymity, and to bring them to justice,” Poe added.

BSKE postponed

IN the same session, senators voted 17-2 with one abstention on a separate bill to postpone to 2025 the barangay and Sangguniang Kabataan Elections.

Minority Leader Koko Pimentel objected to the deferment, saying it unduly confers the incumbents with term extension of 4.5 years.

W hile holding the elections this year as scheduled entails billions in costs, taxpayers will be spending much more by postponing the exercise, Pimentel pointed out.

T he pandemic, added Pimentel, has provided barangay officials the perfect exposure to their constituents because they were front and center of the action during the health crisis, so “holding the elec tions now should have been a good referendum.”

Meanwhile, senators also approved on third reading Senate Bill 1290 or the Walkable and Bikeable Communities Act. Its main ad vocate Sen. Pia Cayetano congratulated most of her colleagues for sharing her passion for biking, saying this is good both for the planet and for people’s health.

Punishment awaits those who incite violence and threaten judges–SC

By Joel R. San Juan @jrsanjuan1573

THE Supreme Court (SC) is looking into possible actions against former spokesperson of the National Task Force to End Local Communist Armed Conflict Lorraine Badoy for alleged red tagging and “ha rassing” Manila Regional Trial Court (RTC) Judge Marlo Magdoza Malagar.

T he Court’s pronouncement came on the heels of Magdoza-Malagar’s decision, junking the petition for proscription filed by the Depart ment of Justice (DOJ) to declare the Communist Party of the Philippines and its armed wing, the New People’s Army (NPA) as terrorist groups.

T he 15-man High Tribunal, dur

Deportation of POGO ‘outlaws’ lauded

ing its regular en banc session on Tuesday, also warned to cite for con tempt those who continue to put the lives of judges and their families at risk through red tagging, vilification and harassment.

Today, the Supreme Court En Banc tackled motu proprio possible actions in A.M. No. 22-09-16-SC [Re: Judge Marlo A. Magdoza Mal agar] regarding statements made by a certain Lorraine Badoy containing threats against Judge Marlo A. Mag doza Malagar of the Manila Regional Trial Court, Branch19,” the SC said.

The Court sternly warns those who continue to incite violence through social media and other means, which endanger the lives of judges and their families, and that

this shall likewise be considered a contempt of this Court and will be dealt with accordingly,” it added.

T he warning came after several organizations such as the Philippine Judges Association, Integrated Bar of the Philippines and Hukom Inc., is sued separate statements condemn ing the red tagging and threats alleg edly made against Magdoza Malagar.

T his developed even as more than 100 lawyers signed a mani festo calling for the SC to take ac tions to what they called “attacks on judicial independence.”

T hey stressed that Badoy’s base less accusation against the Manila judge constitutes “a direct attack against the judiciary and its officer that is intended to undermine pub

lic confidence in the justice system and to harass and intimidate those who chose to act independently to promote the rule of law.”

The lawyers argued that if lies and libelous accusations directed to the members of the judiciary would not be dealt with by the SC accordingly, this would result to people’s loss of confi dence and faith in the judicial system.

We call on the Supreme Court not to let this pass and to take im mediate, concrete and firm action to protect justice sectors and the rule of law. The Court must hold account able those who threaten and malign judges and lawyers,” they said.

In a Facebook post last Friday, Badoy accused Magdoza Malagar of “lawyering” for the CPP-NPA when

she ruled that rebellion and political crimes are not acts of terrorism.

Badoy even called the judge a “friend and true ally” of the com munist groups and branded her de cision as a “judgment straight from the bowels of communist hell.”

Badoy also wrote in her post: “So, If I kill this judge and I do so out of my political belief that all allies of the CPP-NPA-NDF must be killed because there is no difference in my mind between a member of the CPPNPA-NDF and their friends, then please be lenient with me.”

However, in her succeeding Face book posts, Badoy disowned the post and branded it as “fake news” follow ing a backlash from various sectors.

Under the Duterte administra

tion, Mandaluyong Judge Monique Quisumbing-Ignacio also became a victim of red tagging and harass ment after she junked criminal raps against a journalist and a labor orga nizer, and was also accused of having communist links.

In a statement, the Integrated Bar of the Philippines condemned the alleged abuse, harassment and out right red tagging of another member of the Judiciary.

These capricious and dishonest statements go beyond reasonable discussion. They foment vitriol and hate against our judges,” it added.

In a separate statement, the Phil ippine Judges Association said any baseless attack on a judge in whatever manner “is an assault on democracy.”

WARNING against links with crime syndicates, Senator Joseph Victor Ejercito backed the Marcos admin istration’s summary deportation of 2,000 illegal and overstaying work ers employed by different Philippine Overseas Gaming Operators (PO GOs) all over the country.

By Butch Fernandez @butchfBM

T he senator on Tuesday warned that foreign crime syndicates have been “taking advantage of POGOs to remain on Philippine soil and conduct criminal activities” in the country.

In a news statement, the senator stressed, “These illegal and overstay ing aliens should be deported.”

In fact,” he noted, “There might be some foreign national syndi cates using the POGO business avenue to enter the country and conduct their criminal activities here,” reminding that “not just Chinese crime syndicates but also Cambodian and Vietnamese crimi nal syndicates.”

Recession fears: PSEi drops to lowest in 2 yrs continued from a1

A ll other sub-indices closed on the red, led by the broader All Shares index that fell 107.06 points to 3,234.23 points, the Financials index plunged 66.54 to 1,483.43, the Industrial index declined 270.75 to 8,868.37, the Holding Firms index shed 278.09

to 5,787.96, the Property index retreated 106.17 to 2,602.27, the Services index was down 35.93 to 1,601.58 and the Mining and Oil index tumbled 326.54 to 10,808.44.

San Miguel Corp. was the day’s most actively traded but it lost P0.15

to close at P97.50, SM Investments Corp. was down P45 to P763, Ayala Land Inc. fell P0.60 to P24.40, SM Prime Holdings Inc. retreated P1.80 to P32.25, International Container Terminal Services Inc. shed P0.90 to P181 and Ayala Corp. declined P26 to P670.

T he senator suggests the Bureau of Immigration, National Bureau of

Investigation and the Philippine Na tional Police should “work double time to monitor and detect these kinds of operations.”

T he senator noted that the move was prompted by a recent spate of kidnappings and other criminal activities linked to POGOs, saying it was expected to displace around 40,000 foreign nationals working in the country, mostly Chinese.

R ecalling that the DOJ earlier announced its plan to deport thou sands of POGO workers by mid Oc tober, Ejercito observed that “this comes after the Pagcor [Philippine Amusement and Gaming Corpora tion] terminated the licenses” of around 175 POGOs throughout the country.

Inflation to hold back march out of poverty continued from a1

T he national government had the same expectations in the sense that inflation is expected to be on track by 2024. (Full story: https://busi nessmirror.com.ph/2022/09/23/ inflation-induced-price-hike-ofsome-commodities-may-prevailuntil-2024/)

Domestically, persistent ly high inflation could compel households to cut expenditures on health and education. Food

security may be challenged amid low productivity in domestic agri culture. Climate-related disasters pose a risk to lives and livelihoods and may impose additional fiscal costs to the government,” the re port stated.

In order to cope, the World Bank said the national government must diversify its sources of key food commodities. This can be done by sourcing food from other producers

through importation.

T his, the World Bank said, will augment any shortfall in local production and allow Filipinos to have affordable and accessible food sources.

T he Washington-based lender said this should be accompanied by targeted social protection measures “to mitigate the adverse impact of shocks on the poor and vulnerable population.” Cai U. Ordinario

WB forecasts growth of 6.5% for PHL in ’22 continued from a1

T hese, Mattoo said, are offsetting any negative impact of the tighten ing of monetary policy in the coun try. He said the government’s fiscal policy also seems “a little bit more accommodative” which prompted the upward revision of the country’s growth prospects.

“Output in Cambodia, the Philip pines and Thailand [are] expected to surpass prepandemic levels of output in 2022, and output in many Pacific islands is not likely to return to pre pandemic levels even by 2023,” the EAP read.

However, while growth is expect ed to be on target, the World Bank said the country was not immune to the three regional risks—decelera tion, debt, and distortions.

G7 slowdown

MATTOO said the slowing global growth poses a threat to the eco nomic performance of countries in East Asia and the Pacific region. The impact of a slowdown in G7 econo mies, excluding Japan, in the Philip pines is greater than the impact of a slowing China economy.

Based on the World Bank esti mates shared by Mattoo in his pre sentation, the impact of a G7 slow down is a deeper decline of over 0.4 percentage points while a slowdown in China would be less than a contrac tion of 0.4 percentage points.

I n terms of debt, Mattoo said, the burden of debt has risen on the back of the pandemic. But the debt is expected to increase further as interest rates increase and curren cies depreciate.

T he EAP report said large amounts of sovereign bonds are coming due

this year and next year, the bulk of which, however, are denominated in local currency. In the Philippines, a total of $41 billion worth of debts are maturing by end-2023.

A worsening sovereign debt out look due to higher global rates and exchange rate depreciations could lead to higher sovereign funding costs and threaten sovereign debt sustainability,” the report stated.

“

The unprecedented policy sup port measures deployed during the pandemic have led to record levels of public debt.”

In terms of price distortions, the Philippines will be less affected as most of its efforts were targeted at extending cash transfers rather than price controls and trade barriers.

Based on World Bank estimates, fiscal interventions to combat ris ing commodity prices were seen in agriculture or fertilizer subsidies amounting to 0.12 percent; fuel sub sidy, 0.02 percent; and other trans fers, 0.21 percent of GDP.

O ther countries in Southeast Asia such as Malaysia and Indone sia imposed price controls and trade restrictions on top of the subsidies they extended.

In Malaysia, the government im posed a price control for chicken and implemented a poultry export ban. Indonesia imposed a price control on cooking oil and banned the export of palm oil.

In the Philippines’s case, there is also an interesting contrast. That when it comes to agricultural poli cies, the Philippines has implement ed significant liberalization and re lied more on transfers in general than price subsidies. [But] when it comes to energy and fuel, less so,”

Mattoo said in a briefing.

Regional growth

THE World Bank said growth in developing East Asia and the Pacific outside of China is forecast to accel erate to 5.3 percent in 2022 from 2.6 percent in 2021, ac cording to the World Bank’s East Asia and Pacific Octo ber 2022 Economic Update.

China, which previously led recov ery in the region, is projected to grow by 2.8 percent in 2022, a sharp de celeration from 8.1 percent in 2021.

For the region as a whole, growth is projected to slow to 3.2 percent this year from 7.2 percent in 2021, before accelerating to 4.6 percent next year, the report says.

“Economic recovery is underway in most countries of East Asia and the Pacific,” said World Bank East Asia and Pacific Vice President Manuela V. Ferro. “As they prepare for slow ing global growth, countries should address domestic policy distortions that are an impediment to longer term development.”

Growth in much of East Asia and the Pacific has been driven by recov ery in domestic demand, enabled by a relaxation of Covid-related restric tions, and growth in exports.

C hina, which constitutes around 86 percent of the region’s output, uses targeted public health measures to contain outbreaks of the virus, in hibiting economic activity.

T he global economic slowdown is beginning to dampen demand for the region’s exports of commodities and manufactured goods. Rising in flation abroad has provoked interest rate increases, which in turn have caused capital outflows and currency depreciations in some East Asia and Pacific countries.

T hese developments have in creased the burden of servicing debt and shrunk fiscal space, hurting countries that entered the pandemic with a high debt burden.

A s countries of the region seek to shield households and firms from higher food and energy prices, cur rent policy measures provide muchneeded relief, but add to existing policy distortions.

Controls on food prices and en ergy subsidies benefit the wealthy and draw government spending away from infrastructure, health and education.

Lingering regulatory forbearance, meant to ease lending through the pandemic, can trap resources in fail ing firms and divert capital from the most dynamic sectors or businesses.

Editor: Angel R. Calso

World shares mostly gain after Dow tumbles into bear market

By Elaine Kurtenbach AP Business Writer

World shares were mostly higher on Tues day as buying kicked in after heavy selling on Wall Street put the d o w Jones Industrial Average into what’s known as a bear market. US futures and oil prices gained.

In early European trading, Germany’s dA X climbed 0.7% to 12,315.01 while the CAC 40 in Paris rose 0.8% to 5,812.41. In l o ndon, the FTSE 100 edged 0.1% higher to 7,029.46.

The future for the S&P 500 jumped 1.3%, while the contract for the d o w industrials was 1% higher.

In Asian trading, Tokyo’s Nik kei 225 index picked up 0.5% to

26,571.87 and the S&P/ASX 200 added 0.4% to 6,496.20. In Seoul, the Kospi rebounded from ear lier losses, edging 0.1% higher to 2,223.86.

Hong Kong’s Hang Seng added just 5 points, to 17,860.31. The Shanghai Composite index jumped 1.4% to 3,093.86 after China’s central bank on Tuesday moved to maintain cash flow for banks by buying securities from commercial lenders, with an agreement to sell them back in the future.

The official Xinhua News Agen cy said the People’s Bank of China carried out 175 billion yuan (about $24.7 billion) in reverse repos “to maintain liquidity in the banking system.”

Global stocks have been sagging under concerns over stubbornly hot inflation and the risk that cen tral banks could trigger recessions

as they try to cool high prices for everything from food to clothing.

Investors have been particu larly focusing on the Federal r e s erve and its aggressive interest rate hikes. But volatility in cur rency markets has further roiled markets.

The British pound dropped to an all-time low against the dollar on Monday and investors contin ued to dump British government bonds in displeasure over a sweep ing tax cut plan announced in l o n don last week. It had stabilized by early Tuesday.

The Japanese yen edged toward 145 to the dollar early Tuesday.

l a st week, the Bank of Japan in tervened in the market as the yen slipped past 145, gaining a brief reprieve. But the dollar’s surge against other currencies is put ting pressure on the B o J a nd other

central banks, especially in devel oping economies facing growing costs for repaying foreign loans.

o n Tuesday, the pound was at $1.0809, up from $1.0686 late Monday. The dollar bought 144.33 yen, down from 144.65 yen, and the euro rose to 96.36 cents from 96.10 cents.

Companies are nearing the close of the third quarter and with the next round of earnings reports in vestors will get a better sense of how companies are dealing with persistent inflation.

Several economic reports are on tap for this week that will give more details on consumer spending, the jobs market and the broader health of the US economy.

The latest consumer confidence report, for September, from the business group The Conference Board will be released on Tuesday.

The government will release its weekly report on unemployment benefits on Thursday, along with an updated report on second-quar ter gross domestic product.

o n F riday, the government will release another report on personal income and spending that will help provide more details on where and how inflation is hurting consumer spending.

Seeking to make borrowing more expensive and crimp spend ing, the Fed raised its benchmark rate, which affects many consum er and business loans, again last week. It now sits at a range of 3% to 3.25%. It was near zero at the start of the year. The Fed also re leased a forecast suggesting its benchmark rate could be 4.4% by the year’s end, a full point higher than envisioned in June.

The US economy is already slow

ing, raising worries that rate hikes might cause a recession. The d o w was the last of the major US stock indexes to fall into what’s known as a bear market on Monday, fall ing 1.1% to 29,260.81.

The d o w is now 20.5% below its all-time high set on Jan. 4. A drop of 20% or more from a recent peak is what Wall Street calls a bear market.

The S&P 500 fell 1% to 3,655.04. The Nasdaq dropped 0.6% to 10,802.92, while the r u ssell 2000 dropped 1.4% to close at 1,655.88.

In other trading on Tuesday, US benchmark crude added $1.26 to $77.97 per barrel in electronic trading on the New York Mercan tile Exchange. It sank $2.03 to $76.71 on Monday.

Brent crude, used for pricing international oils, rose $1.35 to $84.21 per barrel.

UN meeting produces sense that ‘new epoch’ is arriving

By Edith M. Lederer The Associated Press

UNITEDNATIONS—

The war in Ukraine and its global fallout transfixed the meeting of world leaders at the UN General Assembly this year. When it wasn’t out front, it lurked in the background of virtually every speech.

There were near-unanimous calls for an end to the seven-month war, with rich and poor countries decrying the fallout from the conflict—widespread shortag es and rising prices not only for food but also for energy, inflation hitting the cost of living everywhere, and growing global inequality.

The speeches and side meetings pro duced no breakthroughs toward peace, but they did put the top diplomats from Russia and Ukraine in the same room for the first time in many months, however briefly. And UN food chief David Beasley sounded an alarm that the war, on top of the ongoing Covid-19 pandemic, has left 50 million people in 45 countries “knocking on famine’s door.” He warned of starvation, destabilization of nations, riots, and mass migration if help doesn’t arrive quickly.

In his strongest, gloomiest speech since taking the helm of the United Nations in 2017, U.N. Secretary-General Antonio Guterres opened the six-day gathering telling leaders that the survival of hu manity and the planet are at stake, and nations aren’t tackling the challenges to reverse course. “We are gridlocked in co lossal global dysfunction,” he said. “Our world is in peril—and paralyzed.”

General Assembly President Csaba Kőrösi said he heard, from leaders, a resounding message: that the war in Ukraine, whose effect is being felt around the world, must end. “Yet be it the largest and the most acute, the war in Ukraine is one of nearly 30 armed conflicts world wide,” Kőrösi said. “And none of them is improving.”

The Hungarian diplomat cited other takeaways from the high-level meeting: Climate change is destroying us, human rights must be improved and the United Nations must be modernized—particu larly its 15-member security council, which must, he said, reflect “the realities of this century.”

The 77th General Assembly meeting

returned to an in-person gathering for the first time in three years. It was entirely virtual in 2020 and hybrid in 2021. Ac cording to Kőrösi, 190 of the 193 UN mem ber nations delivered addresses including 126 world leaders, a significant number but fewer than the nearly 150 on the last speakers list issued earlier this month.

The assembly made one exception to the in-person requirement. Over objections from Russia and a few allies, members voted overwhelmingly to allow Ukrainian President Volodymyr Zelenskyy to deliver a pre-recorded speech because of the “on going foreign invasion.”

The six-day meeting was held under the shadow of Europe’s first major war since World War II, which began with Russia’s Feb. 24 invasion of its smaller neighbor. The conflict has unleashed a global food crisis and opened fissures among major powers in a way not seen since the Cold War.

In the midst of the speeches, the U.N. Security Council held an open meeting on Thursday called by France, the cur rent council president, on ensuring ac countability for Russian actions. Rus sian Foreign Minister Sergey Lavrov left a lower-ranking official in Russia’s seat, arriving just before his speaking slot and leaving immediately afterward—much to the dismay of other ministers including Ukraine’s, whose speeches Lavrov missed.

Lavrov repeated his country’s claims that Kyiv has long oppressed Russian speakers in Ukraine’s east—one of the explanations Moscow has offered for the invasion—and that Western support for Ukraine is a menace to Russia. He never mentioned President Vladimir Putin’s new troop mobilization.

In his speech to the assembly on Satur day, Lavrov accused the West of aiming to “destroy and fracture Russia.” And there were a lot of comments on the opposing side.

French President Emmanuel Macron accused countries remaining silent on the war of “serving the cause of a new imperialism, a contemporary cynicism that is destroying the world or der,” and said it was time for all countries to “act to force Russia to give

up the choice of war so that it realizes the cost on itself and us and ends its ag gression.”

US President Joe Biden called on democ racies and autocracies alike to speak out against Russia’s “brutal, needless war” and bolster’s Ukraine effort to defend itself. “We will stand in solidarity against Rus sia’s aggression, period,” he said, accusing Russia of “shamelessly” violating the core tenets of the UN Charter.

Beyond Ukraine, other topics perco lated—from climate change to inequity to security. Senegalese President Macky Sall, chairman of the 55-nation African Union, urged greater global and U.N. fo cus on terrorism, which “is not just an African matter.”

Nigerian President Muhhammadu Buhari warned of new kinds of war— “conflicts increasingly being driven by non-state actors, proliferation of small arms and light weapons, terrorism, violent extremism, malignant use of technology, climate change, irregular migration, and disparities in opportunities for improved standards of living.”

An end to the Ukraine war appears distant, and the nation is keeping up the pressure at the UN, calling for a Security Council meeting Tuesday on the referenda that Russia has called in a prelude to the likely annexation of more of its territory.

And so it continues after the General Assembly just as before, with the United Nations trying to help stop war but—par ticularly in the Security Council—having a limited kit of tools to do so. Still, there are ways forward that remain.

“Fairness and togetherness are needed to bring about peace, love and prosperity in this world,” said Mia Mottley, prime minister of Barbados. “And this is not ro manticism. These are hard realities that simply require decisions.”

Kőrösi closed the annual global gather ing Monday afternoon by saying he sensed, in leaders’ speeches, a “growing awareness that humanity has entered a new era” of complex challenges, multilayered crises, and changing priorities. What’s happen ing, he said, represents not “just modifi cations, but “significant transformations in the making.”

There isn’t a name yet “for the new ep och,” Kőrösi said, “but we feel that it has arrived.” Edith M. Lederer is chief U.N. correspon dent for The Associated Press and has been covering

Bam! nAsA spacecraft crashes into asteroid in defense test

By Marcia Dunn AP Aerospace Writer

CAPE CANAVERAL, Fla.—A NASA spacecraft rammed an asteroid at blistering speed Monday in an un precedented dress rehearsal for the day a killer rock menaces Earth.

The galactic slam occurred at a harmless asteroid 7 million miles (9.6 million kilo meters) away, with the spacecraft named Dart plowing into the space rock at 14,000 mph (22,500 kph). Scientists expected the impact to carve out a crater, hurl streams of rocks and dirt into space and, most im portantly, alter the asteroid’s orbit.

“We have impact!” Mission Control’s Elena Adams announced, jumping up and down and thrusting her arms skyward.

Telescopes around the world and in space aimed at the same point in the sky to cap ture the spectacle. Though the impact was immediately obvious—Dart’s radio signal abruptly ceased—it will be days or even weeks to determine how much the aster oid’s path was changed.

“Now is when the science starts,” said NASA’s Lori Glaze, planetary science divi sion director. “Now we’re going to see for real how effective we were.”

The $325 million mission was the first attempt to shift the position of an asteroid or any other natural object in space.

“What an amazing thing. We’ve never had that capability before,” Glaze noted.

Earlier in the day, NASA Administrator Bill Nelson reminded people via Twitter that, “No, this is not a movie plot.” He added in a prerecorded video: “We’ve all seen it on movies like ‘Armageddon,’ but the real-life stakes are high.”

Monday’s target: a 525-foot (160-me ter) asteroid named Dimorphos. It’s actu ally a moonlet of Didymos, Greek for twin, a fast-spinning asteroid five times bigger that flung off the material that formed the junior partner.

The pair has been orbiting the sun for eons without threatening Earth, making them ideal save-the-world test candidates.

Launched last November, the vending machine-size Dart—short for Double As teroid Redirection Test—navigated to its target using new technology developed by Johns Hopkins University’s Applied Phys ics Laboratory, the spacecraft builder and mission manager.

Dart’s on-board camera, a key part of this smart navigation system, caught sight of Dimorphos barely an hour before impact.

“Woo hoo,” exclaimed Adams, a mis sion systems engineer at Johns Hopkins. “We’re seeing Dimorphos, so wonderful, wonderful.”

With an image beaming back to Earth every second, Adams and other ground con trollers in Laurel, Maryland, watched with growing excitement as Dimorphos loomed larger and larger in the field of view along side its bigger companion. Within minutes, Dimorphos was alone in the pictures; it

looked like a giant gray lemon, but with boulders and rubble on the surface. The last image froze on the screen as the radio transmission ended.

Flight controllers cheered, hugged one another and exchanged high fives. Their mission complete, the Dart team went straight into celebration mode. There was no sorrow over the spacecraft’s demise. “It’s meeting its destiny,” said Betsy Congdon, Johns Hopkins’ mechanical lead.

A mini satellite followed a few minutes behind to take photos of the impact. The Italian Cubesat was released from Dart two weeks ago.

Scientists insisted Dart would not shat ter Dimorphos. The spacecraft packed a scant 1,260 pounds (570 kilograms), com pared with the asteroid’s 11 billion pounds (5 billion kilograms). But that should be plenty to shrink its 11-hour, 55-minute orbit around Didymos.

The impact should pare 10 minutes off that, but telescopes will need anywhere from a few days to nearly a month to verify the new orbit. The anticipated orbital shift of 1% might not sound like much, scientists noted. But they stressed it would amount to a significant change over years.

Planetary defense experts prefer nudg ing a threatening asteroid or comet out of the way, given enough lead time, rather than blowing it up and creating multiple pieces that could rain down on Earth. Multiple im pactors might be needed for big space rocks or a combination of impactors and so-called gravity tractors, not-yet-invented devices that would use their own gravity to pull an asteroid into a safer orbit.

“The dinosaurs didn’t have a space pro gram to help them know what was coming, but we do,” NASA’s senior climate adviser Katherine Calvin said, referring to the mass extinction 66 million years ago believed to have been caused by a major asteroid impact, volcanic eruptions or both.

The non-profit B612 Foundation, dedi cated to protecting Earth from asteroid strikes, has been pushing for impact tests like Dart since its founding by astronauts and physicists 20 years ago. Monday’s feat aside, the world must do a better job of identifying the countless space rocks lurk ing out there, warned the foundation’s ex ecutive director, Ed Lu, a former astronaut.

Significantly less than half of the es timated 25,000 near-Earth objects in the deadly 460-foot (140-meter) range have been discovered, according to NASA. And less than 1% of the millions of smaller asteroids, capable of widespread injuries, are known.

The Vera Rubin Observatory, nearing completion in Chile by the National Sci ence Foundation and US Energy Depart ment, promises to revolutionize the field of asteroid discovery, Lu noted.

Finding and tracking asteroids, “That’s still the name of the game here. That’s the thing that has to happen in order to protect the Earth,” he said.

President of nigeria Muhammadu Buhari addresses the 77th session of the United nations General Assembly on Wednesday, sept. 21, 2022, at the United nations Headquarters. AP Photo/Juli A N ikhi N s o N

Russian military recruiter shot amid fear of Ukraine call-up

By Adam Schreck & Jon Gambrell The Associated Press

KYIV, Ukraine—A young man shot a Russian military officer at close range at an enlistment office Monday, an unusually bold attack reflecting resistance to Russian President Vladimir Putin’s efforts to mobilize hundreds of thousands of more men to wage war on Ukraine.

The shooting comes after scattered arson attacks on enlistment offices and protests in Russian cities against the military call-up that have resulted in at least 2,000 arrests. Russia is seeking to bolster its military as its Ukraine of fensive has bogged down.

In the attack in the Siberian city of Ust-Ilimsk, 25-year-old resident Ruslan Zinin walked into the enlistment office saying “no one will go to fight” and “we will all go home now,” according to lo cal media.

Zinin was arrested and officials vowed tough punishment. Authorities said the military commandant was in intensive care. A witness quoted by a lo cal news site said Zinin was in a roomful of people called up to fight and troops from his region were heading to military bases on Tuesday.

Protests also flared up in Dagestan, one of Russia’s poorer regions in the North Caucasus. Local media reported that “several hundred” demonstrators took to the streets Tuesday in its capital, Makhachkala. Videos circulated online showing dozens of protesters tussling with the police sent to disperse them.

Demonstrations also continued in another of Russia’s North Caucasus republics, Kabardino-Balkaria, where videos on social media showed a local official attempting to address a crowd of women.

Concerns are growing that Russia may seek to escalate the conflict—in cluding potentially using nuclear weap ons—once it completes what Ukraine and the West see as illegal referendums in occupied parts of Ukraine.

The voting, in which residents are asked whether they want their regions to become part of Russia, began last week and ends Tuesday, under condi tions that are anything but free or fair. Tens of thousands of residents had al ready fled the regions amid months of fighting, and images shared by those who remained showed armed Russian troops going door-to-door to pressure Ukrainians into voting.

“Every night and day there is inevi table shelling in the Donbas, under the roar of which people are forced to vote for Russian ‘peace,’” Donetsk regional governor Pavlo Kirilenko said Monday.

Russia is widely expected to declare the results in its favor, a step that could see Moscow annex the four regions and then defend them as its own territory.

Kremlin spokesman Dmitry Peskov said Monday no date has been set for recognizing the regions as part of Rus sia but it could be just days away.

Jake Sullivan, the US national secu rity adviser, said Russia would pay a high, if unspecified, price if it made good on veiled threats to use nuclear weapons in the war in Ukraine.

“If Russia crosses this line, there will be catastrophic consequences for Russia. The United States will respond decisively,” he told NBC.

Elsewhere, the British government on Monday slapped sanctions on 92 businesses and individuals it says are involved with organizing the referen dums in occupied Ukraine. UK Foreign Secretary James Cleverly called the votes on joining Russia “sham referen dums held at the barrel of a gun.” He

said they “follow a clear pattern of vio lence, intimidation, torture and forced deportations.”

The White House Press Secretary Kar ine Jean-Pierre likewise said Monday the US “will never recognize” the four regions as part of Russia, and threat ened Moscow with “swift and severe” economic costs.

Putin and his Belarusian counterpart Alexander Lukashenko, meanwhile, held an unannounced meeting Monday in the southern Russian city of Sochi and claimed they were ready to cooperate with the West—“if they treat us with respect,” Putin said.

Turkish Foreign Minister Mevlut Ca vusoglu said Monday that Putin had told Turkey’s president last week that Mos cow was ready to resume negotiations with Ukraine but had “new conditions” for a cease-fire.

The Kremlin last week announced a partial mobilization—its first since World War II—to add at least 300,000 troops to its forces in Ukraine. The move, a sharp shift from Putin’s previous ef forts to portray the war as a limited military operation, proved unpopular at home.

Thousands of Russian men of fight ing age have flocked to airports and Russia’s land border crossings to avoid being called up. Protests erupted across the country, and Russian media reported

Russia gives citizenship to former NSA contractor Edward Snowden

MOSCOW—Russia on Monday grant ed citizenship to former American intelligence contractor Edward Snowden, who fled prosecution after he re vealed highly classified US surveillance pro grams to capture communications and data from around the world.

A decree signed Monday by Russian Presi dent Vladimir Putin listed Snowden as one of 75 foreign citizens listed as being granted Russian citizenship. After fleeing the US in 2013, Snowden was granted permanent Rus sian residency in 2020 and said at the time that he planned to apply for Russian citizen ship without renouncing his US citizenship.

Ties between Washington and Moscow are already at their lowest point in decades following Putin’s decision to launch what the Kremlin has dubbed a “special military operation” in Ukraine.

While Snowden, 39, is considered by sup porters to be a righteous whistleblower that wanted to protect American civil liberties, US intelligence officials have accused him of putting US personnel at risk and damaging national security. He currently faces charges in the United States that could result in de cades in prison.

“Our position has not changed,” State De partment spokesman Ned Price said Monday. “Mr. Snowden should return to the United States where he should face justice as any other American citizen would.”

Snowden becomes a Russian citizen as Moscow is mobilizing reservists to go to Ukraine. In Russia, almost every man is considered a reservist until age 65, and of ficials on Monday stressed that men with dual citizenship are also eligible for the military call-up.

Snowden, however, has never served in the Russian armed forces, so he is not eligible to be mobilized, his lawyer Anatoly Kucherena told the Interfax news agency. Having pre vious combat or military service experience has been considered the main criterion in

the call-up.

Kucherena told Russia’s state news agency RIA Novosti that Snowden’s wife, Lindsay Mills, an American who has been living with him in Russia, will also be applying for a Rus sian passport. The couple has two children.

“After two years of waiting and nearly 10 years of exile, a little stability will make a difference for my family,” Snowden tweeted Monday. “I pray for privacy for them—and for us all.”

Andrei Soldatov, a Russian investigative journalist known for his exposés of Moscow security services, said that “strictly speak ing, (Snowden) could be drafted, strictly in theory.” But that would be bad PR for the Kremlin so it won’t happen, said Soldatov, who is on Russia’s wanted list for “spread ing false information.” Russian authorities have also frozen his bank accounts and he lives in exile.

Snowden, who has kept a low profile in Russia and occasionally criticized Russian government policies on social media, said in 2019 that he was willing to return to the US if he’s guaranteed a fair trial.

Snowden has become a well-known speak er on privacy and intelligence, appearing remotely at many events from Russia. But he has been sharply criticized by members of the intelligence community, and current and former officials from both US political parties say he endangered global security by exposing important programs. A US dam age assessment of his disclosures is still classified.

James Clapper, who served as US director of national intelligence at the time of the dis closures, said Snowden’s grant of citizenship came with “rather curious timing.”

“It raises the question—again—about just what he shared with the Russians,” Clapper said in an e-mail Monday.

Snowden has denied cooperating with Rus sian intelligence and was traveling through Moscow when the US revoked his passport.

Snowden leaked documents on the Na tional Security Agency’s collection of data passing through the infrastructure of US phone and Internet companies. He also re leased details about the classified US intel ligence budget and the extent of American surveillance on foreign officials, including the leaders of US-allied countries.

Snowden says he made the disclosures be cause he believed the US intelligence commu nity had gone too far and wrongly infringed on civil liberties. He also has said he didn’t believe the administration of former Presi dent Barack Obama, which was in office when Snowden leaked the records to journalists, would act had he made an internal whistle blower complaint instead.

His decision to turn against the NSA came when he used his programming skills to create a repository of classified in-house notes on the agency’s global snooping and as he built a backup system for agency data, he wrote in his 2019 book “Permanent Record.”

Reading through the repository, Snowden said he began to understand the extent of his government’s stomping on civil liberties and became “cursed with the knowledge that all of us had been reduced to something like children, who’d been forced to live the rest of their lives under omniscient parental su pervision.”

Snowden was charged in 2013 with unau thorized disclosure of US national security and intelligence information as well as theft of government property. The three charges each carry a maximum 10-year penalty.

The Justice Department also sued to stop Snowden from collecting profits on his mem oir, saying he had violated his nondisclosure agreements with intelligence agencies.

The White House on Monday referred comment on Snowden’s citizenship to the Justice Department, citing the pending crimi nal charges. Associated Press writers Matt Lee and Nomaan Merchant in Washington and Frank Bajak in Boston contributed to this report.

an increasing number of arson attacks on military enlistment offices.

Ukrainian President Volodymyr Zelen skyy on Monday once again decried the Russian mobilization as nothing more than “an attempt to provide commanders on the ground with a constant stream of cannon fodder.”

In his nightly televised address, Zelen skyy referenced ongoing Russian attempts to punch through Ukrainian defense lines in the eastern industrial heartland of Donbas, a key target of Moscow’s military campaign.

“Despite the obvious senselessness of the war for Russia and the occupiers’ loss of initiative, the Russian military command still drives (troops) to their deaths,” Zelen skyy said in his nightly televised address.

The Ukrainian military on Monday said in its regular Facebook update that Moscow was focusing on “holding occupied territo ries and attempts to complete its occupation of the Donetsk region,” one of two that make up the Donbas. It added that Ukrainian troops continued holding Russian troops at bay along the frontline there.

Meanwhile, the first batches of new Rus sian troops mobilized by Moscow have be gun to arrive at military bases, the British Defense Ministry said Monday, adding that tens of thousands had been called up so far.

Ukrainian President Volodymyr Zelen skyy said Monday on Facebook that the Ukrainian military is pushing efforts to take back “the entire territory of Ukraine,”

and has drawn up plans to counter “new types of weapons” used by Russia. He did not elaborate.

An overnight drone strike near the Ukrai nian port of Odesa sparked a massive fire and explosion, the military said Monday. It was the latest drone attack on the key southern city in recent days, and hit a mili tary installation, setting off ammunition. Firefighters struggled to contain the blaze.

New Russian shelling struck near the Za porozhzhia nuclear power plant, according to Zelenskyy’s office. Cities near the plant were fired on nine times by rocket launch ers and heavy artillery.

Local Ukrainian officials said Monday evening that the strikes had wounded three civilians in the town of Marhanets, across the Dnieper River from the plant.

Russia also kept pummeling Ukrainianheld territory in the country’s east, parts of which have seen ramped-up shelling and missile strikes since Ukraine’s ongo ing counteroffensive made sweeping gains there this month. At least seven civilians, including a 15-year-old girl, were killed Monday in a rocket attack on the city of Pervomayskiy in the northeastern Kharkiv region, local officials reported.

Further south, Ukrainian officials re ported that a Russian missile on Monday evening destroyed a civilian airport in the eastern city of Kryvyi Rih, President Zel enskyy’s birthplace. The regional governor, Valentyn Reznichenko said that while there had been no casualties, the airport had been knocked out of commission.

In Ukraine’s industrial heartland of Don bas, four civilians were wounded on Monday after a Russian strike slammed into apart ment blocks in the city of Kramatorsk, its mayor said on social media.

Kramatorsk is one of two largest Ukrai n ian-held cities remaining in the Donbas, and home to the headquarters of Ukrainian troops there.

In the town of Izium in eastern Ukraine, which Russian forces fled this month after a Ukrainian counteroffensive, Margaryta Tkachenko is still reeling from the battle that destroyed her home and left her family close to starvation with no gas, electricity, running water or internet.

“I can’t predict what will happen next. Winter is the most frightening. We have no wood. How will we heat?” she asked. Yuras Karmanau in Tallinn, Estonia, Lori Hinnant in Izium, Ukraine, Joanna Kozlowska in London and Yesica Fisch in Kramatorsk, Ukraine, contributed to this report.

RUSSiAN recruits gather inside a military recruitment center of Bataysk, Rostov-on-Don region, south of Russia on Monday, September 26, 2022. Russian President Vladimir Putin last Wednesday ordered a partial mobilization of reservists to beef up his forces in Ukraine. AP Photo

editorial

Keeping livestock diseases at bay

After years of battling foot-and-mouth disease, the Philippines’s efforts to stamp out the highly contagious viral disease was recognized in May 2015 by the World Organisation for Animal Health or OIe the Philippines was declared fMD-free country not practicing vaccination. Despite the influx of meat imports, the country was able to maintain its fMDfree status for the last seven years.

The virus that causes FMD can be transmitted via contaminated meat and other animal products, and it can survive in the environment for several weeks (See, “Australia tightens meat import rules for foot-and-mouth disease,” in the BusinessMirror, September 8, 2022). FMD is a highly contagious disease that affects cattle, sheep, goats and pigs. It is characterized by fever and blister-like sores on the tongue and lips, in the mouth, on the teats and between the hooves, according to a Bloomberg report.

FMD is difficult to control as it is often spread by humans via their shoes, clothes, and luggage. Particles can even live in people’s noses where they may survive for up to 24 hours. The disease is considered one of the most harmful livestock diseases, which can potentially cause billions of dollars of losses each year.

While the Philippines remains free from the dreaded livestock disease, its neighbor Indonesia is seeing a spike in cases as the virus struck cattle herds. The outbreak of FMD in Indonesia has prompted countries like Australia to put in place restrictions by banning the entry of imported meat for personal use to keep the disease at bay. The livestock sector generates huge income for many countries, and FMD outbreaks have the potential of causing huge revenue losses.

In the Philippines, 70 percent of our swine inventory in April to June came from backyard farms, according to the latest data from the Philippine Statistics Authority (PSA). These are farms that have less than 10 heads of hogs and are most at risk to be affected by outbreaks of animal diseases like FMD and African swine fever (ASF). An outbreak can cause many backyard raisers to incur losses.

Authorities need to heighten their vigilance against the entry of imported meat products given the outbreak of FMD in Indonesia and the bird flu affecting Western countries where the weather will soon become cooler. It would do well for all concerned agencies to strictly monitor the entry of meat products, to ensure that contaminated meat will not be able to enter the country’s food supply. Putting restrictions in place to prevent the entry of products from countries hit by FMD and other animal diseases will help save the country’s livestock and poultry subsectors.

Our livestock and poultry subsectors can help boost government efforts to bolster food production at a time of spiraling inflation.

These subsectors performed better than other farm subsectors in the first half of the year, according to the PSA. The poultry subsector, in particular, helped lift the performance of the farm sector during the period.

We can all help preserve the enviable FMD-free status that the Philippines gained in 2015. And the best way to do this is to prevent outbreaks of animal diseases like FMD, which will cause farmers to incur huge losses. Let’s all help protect the livelihood of our livestock and poultry producers, who play a vital role in helping stabilize food prices in the country.

Economics of scarcity

Dennis Gorecho

Kuwentong Peyups

ScArcIt

y is an economic concept we encounter in addressing a basic problem—the gap between limited resources and theoretically limitless wants.

This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.

We have to produce the maximum results from the scarce resources that are available.

This is the message of Marikina Representative Stella Quimbo during the homecoming last weekend organized by the University of the Philippines School of Economics Alumni Association (UPSEAA).

Quimbo was our class valedictorian from UPSE batch 1991 with her latin honor Summa Cum Laude. She later obtained her master’s and doctorate degrees in economics in UPSE.

Her research portfolio focused on the field of health economics, industrial organization, microeconomics, education, poverty, and public policy.

She said that we imbibed the “UPSE state of mind” of how to think critically and strategically.

We learned how to choose the most efficient option that benefits the greatest number of people without fear of questioning deeply rooted assumptions and proposing alternative solutions.

Quimbo voted against the contro-

versial Anti-Terrorism Act saying it was against the country’s laws to give so much power and discretion to law enforcement over who’s really a “terrorist.” She said: “I cannot support a bill that contradicts fundamental principles in the Constitution that protects our citizens.”

In general, economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.

Economics is derived from the Greek word oikonomia, which in turn is composed of two words: “oikos,” which is translated as “household;” and “nemein,” which is best translated as “management and dispensation.”

Quimbo said that many UPSE graduates would swear that they hardly remember the stuff that they learned in college.

We read the book “The Wealth of Nations” by Adam Smith wherein he argued for free trade, market competition and the morality of private enterprise.

On the other hand, Karl Marx disagreed as he argued that capitalism consistently only benefits a select few. Under Marxist economic model,

Allowing nature to help us

By Dr. Theresa Mundita S. Lim

UPSE was established in 1965, and is known for graduates who have been vigorously trained and prepared to become leaders in various fields. Many of the prime movers in government, business, civil society and academe obtained their formal training in economics from UPSE.

the ruling class becomes richer by extracting value out of cheap labor provided by the working class.

Marx favored government intervention. Economic decisions, he said, should not be made by producers and consumers and instead ought to be carefully managed by the state to ensure that everyone benefits.

One of the basic principles that I recall is the law of supply and demand, which is a theory that explains the interaction between the sellers of a resource and the buyers for that resource.

This theory defines the relationship between the price of a given good or product and the willingness of people to either buy or sell it: as price increases, people are willing to supply more and demand less, and vice versa when the price falls.

We dealt with relationships between variables, formulas, and graphs. A variable is simply a quantity whose value can change. A graph is a pictorial representation of the relationship between two or more variables.

UPSE was established in 1965, and is known for graduates who have been vigorously trained and prepared to become leaders in various fields. Many of the prime movers in government, business, civil society and academe obtained their formal

training in economics from UPSE.

One of them is former Vice President Leni Robredo from batch 1986, who was our guest speaker during the silver jubilee homecoming of my batch in 2016.

UPSE is also the home of the economic managers of the current administration, namely Arsenio Balisacan as National Economic and Development Authority chief, Benjamin Diokno as Finance secretary and Felipe Medalla as Bangko Sentral ng Pilipinas governor.

Economics was not my first choice when I took the UP entrance exam in mid-1980s, but another quota course, accounting.

I ended up cherishing this fouryear undergraduate degree in economic theory, econometrics and applied economics, involving a deluge of formulas and graphs.

I finished BS Economics in 1991, and then proceeded to UP College of Law.

Prof. Winnie Monsod once asked me about the anecdote that economics graduates just cross the street to continue legal education, as we comprise a major portion of UP Law entrance exam passers.

Quimbo gave a refresher on Pareto Optimality: the state when no further changes in the economy can make one person better off without at the same time making another worse off.

Despite divergence in advocacies, UPSE denizens cheer as one community during UAAP games with the slogan #UPFight.

Peyups is the moniker of UP. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez.com, or call 09175025808 or 09088665786.

SuPer

typhoon Noru battered the Philippines with strong winds and heavy rains as it landed on September 25. Noru, locally called Karding, is by far the strongest storm hitting the Philippines this year, hoisting sustained wind speeds of 195 kilometres per hour tagged with heavy rainfall affecting many areas of Luzon, displacing thousands and more being affected.

This occurrence only follows a series of flooding incidents that are also happening in many parts of the Asean region: the massive flooding affecting 16 provinces in Cambodia; the “surprise” floods in Kuala Lumpur—leaving millions worth of properties destroyed, communities displaced, and scores dead. All these are haunting reminders that the Asean region is among the most disaster-prone areas in the world. Data from the Asean show that with

1,218 disasters occurring from 2012 to 2018, estimated damages of $15.9 billion annually, equivalent to three times the Asean’s collective annual gross domestic product.

We offer our deepest sympathies to the victims of these massive floods. We also commend the efforts of the government, civil society organizations, and individuals conducting disaster relief and support to affected survivors.

While the times always demand

We cannot wait for another disaster to remind us how much benefit we can derive from nature. Climate change may have something to do with the extreme weather conditions we are experiencing now, and indeed new technologies can be developed and adopted to reduce its impacts. But for the Philippines and the rest of Asean, the most cost-effective solution may just be right in front of us—the rich biological diversity that our region has been blessed with to help us weather the storm.

an effective and decisive immediate response, these disasters are imminent invitations for everyone to look

at the bigger picture: to see how we can further allow nature to help us.

In the Philippines, the Sierra Madre mountain acts as a resilience backbone that weakens the impact of disturbances from the East. The range, which covers the Quezon province all the way up to Cagayan, is strategically located as a breaker of strong winds originating from the Pacific. Together with the diverse ecosystems found inside it, the range absorbs large amounts of rainfall, thanks to the diversity of ecosystems found in the area.

Similarly, the Mekong River in Stung Treng Province, Cambodia, designated as a wetland of international importance, not only regulates water flow and minimizes inundation, most especially during the monsoon seasons, but also helps See “Lim,” A15

The world’s funniest joke

Angel R. Calso

EDITOR’S CORNER

Dr.richard Wiseman holds Britain’s only Professorship in the Public Understanding of Psychology at the University of Hertfordshire. In 2001, he teamed up with the British Science Association to carry out “LaughLab” (www.laughlab.co.uk), the scientific search for the world’s funniest joke, and answer important questions about the psychology of humor.

LaughLab was the largest scientific study ever into humor. For one year, Dr. Wiseman’s team asked people from all over the world to submit their favorite jokes and judge how funny other people’s jokes were by using the web site’s customized “Giggleometer.”

The experiment was such a success that it earned a Guinness World Record, and Random House published the LaughLab book containing all of their results and top gags.

Based on several million critiques, the world’s funniest joke is:

A couple of New Jersey hunters are out in the woods when one of them falls to the ground. He doesn’t seem to be breathing; his eyes are rolled back in his head.

The other guy whips out his cell phone and calls the emergency services. He gasps to the operator: “My friend is dead! What can I do?”

The operator, in a calm, soothing voice, says: “Just take it easy. I can help. First, let’s make sure he’s dead.”

There is a silence, then a shot is heard. The guy’s voice comes back on the line. He says: “OK, now what?”

Gurpal Gosall, a psychiatrist from Manchester who submitted the win-

Lim . . . continued from A14

ning joke, told LaughLab: “I like the joke as it makes people feel better, because it reminds them that there is always someone out there who is doing something more stupid than themselves.”

Dr. Wiseman said: “This joke is interesting because it works across many different countries, appeals to men and women, and young and old alike. Many of the jokes submitted received higher ratings from certain groups of people, but this one had real universal appeal. Also, we find jokes funny for lots of different reasons—they sometimes make us feel superior to others, reduce the emotional impact of anxiety-provoking situations, or surprise us because of some kind of incongruity. The joke contains all three elements—we feel superior to the stupid hunter, realize the incongruity of him misunderstanding the operator and the joke helps us to laugh about our concerns about our own mortality.”

In second place came the joke submitted by Geoff Anandappa from Blackpool, Britain: Sherlock Holmes and Dr. Watson go on a camping trip. After a good dinner and a bottle of wine, they retire for the

night, and go to sleep.

Some hours later, Holmes wakes up and nudges his faithful friend. “Watson, look up at the sky and tell me what you see.”

“I see millions and millions of stars, Holmes,” replies Watson.

“And what do you deduce from that?”

Watson ponders for a minute. “Well, astronomically, it tells me that there are millions of galaxies and potentially billions of planets. Astrologically, I observe that Saturn is in Leo. Horologically, I deduce that the time is approximately a quarter past three. Meteorologically, I suspect that we will have a beautiful day tomorrow. Theologically, I can see that God is all-powerful, and that we are a small and insignificant part of the universe... What does it tell you, Holmes?”

Holmes is silent for a moment. “Watson, you idiot!” he says. “Someone has stolen our tent!”

Dr. Wiseman said: “We asked everyone participating in LaughLab to tell us which country they were from. We analyzed the data from the 10 countries that rated the highest number of jokes. The following “league table” lists the countries, in the order of how funny they found the jokes.”

Most funny: Germany, France, Denmark, UK, Australia, The Republic of Ireland, Belgium, USA, New Zealand, and Canada.

Dr. Wiseman said fascinating differences also emerged between nations in terms of the jokes they found funny. People from The Republic of Ireland, the UK, Australia and New Zealand expressed a strong preference for jokes involving word plays, such as:

Patient: “Doctor, I’ve got a strawberry stuck up my bum.”

Doctor: “I’ve got some cream for that.”

Americans and Canadians much preferred gags where there was a

sense of superiority—either because a person looked stupid, or was made to look stupid by another person, such as:

Texan: “Where are you from?”

Harvard grad: “I come from a place where we do not end our sentences with prepositions.”

Texan: “Okay—where are you from, jackass?”

Dr. Wiseman said many European countries, such as France, Denmark and Belgium, liked jokes that were somewhat surreal, such as:

An Alsatian went to a telegram office, took out a blank form and wrote: “Woof. Woof. Woof. Woof. Woof. Woof. Woof. Woof. Woof.”

The clerk examined the paper and politely told the dog: “There are only nine words here. You could send another ‘Woof’ for the same price.”

“But,” the dog replied, “that would make no sense at all.”

Here are some of the top jokes in different countries from LaughLab’s final report:

Top joke in UK

A woman gets on a bus with her baby. The bus driver says: “That’s the ugliest baby that I’ve ever seen. Ugh!”

The woman goes to the rear of the bus and sits down, fuming. She says to a man next to her: “The driver just insulted me!”

The man says: “You go right up there and tell him off—go ahead, I’ll hold your monkey for you.”

Top joke in USA

A man and a friend are playing golf one day at their local golf course. One of the guys is about to chip onto the green when he sees a long funeral procession on the road next to the course. He stops in mid-swing, takes off his golf cap, closes his eyes, and bows down in prayer.

His friend says: “Wow, that is the most thoughtful and touching thing I have ever seen. You truly are a kind man.”

The man then replies: “Yeah, well we were married 35 years.”

Top joke in Canada

When NASA first started sending up astronauts, they quickly discovered that ballpoint pens would not work in zero gravity. To combat the problem, NASA scientists spent a decade and $12 billion to develop a pen that writes in zero gravity, upside down, underwater, on almost any surface including glass and at temperatures ranging from below freezing to 300 C. The Russians used a pencil.

Top joke in Australia

This woman rushed to see her doctor, looking very much worried and all strung out. She rattles off: “Doctor, take a look at me. When I woke up this morning, I looked at myself in the mirror and saw my hair all wiry and frazzled up, my skin was all wrinkled and pasty, my eyes were bloodshot and bugging out, and I had this corpse-like look on my face!

What’s WRONG with me, Doctor!?”

The doctor looks her over for a couple of minutes, then calmly says: “Well, I can tell you that there ain’t nothing wrong with your eyesight....”

Top joke in Belgium

Why do ducks have webbed feet? To stamp out fires. Why do elephants have flat feet? To stamp out burning ducks.

Top joke in Germany

A general noticed one of his soldiers behaving oddly. The soldier would pick up any piece of paper he found, frown and say: “That’s not it” and put it down again. This went on for some time, until the general arranged to have the soldier psychologically tested. The psychologist concluded that the soldier was deranged, and wrote out his discharge from the army. The soldier picked it up, smiled and said: “That’s it.”

Dr. Wiseman said: “We also asked participants from the UK to tell us whether they were from Wales, Scotland, England or Northern Ireland.

Our data has revealed that the Welsh found the jokes funniest, followed by the English, then people from Northern Ireland and then the Scots.”

Here are the top jokes from the UK regions.

Top joke in England

Two weasels are sitting on a barstool. One starts to insult the other one. He screams, “I slept with your mother!” The bar gets quiet as everyone listens to see what the other weasel will do. The first again yells, “I SLEPT WITH YOUR MOTHER!”

The other says, “Go home dad you’re drunk.”

Top joke in Wales

A turtle was walking down an alley in New York when he was mugged by a gang of snails. A police detective came to investigate and asked the turtle if he could explain what happened. The turtle looked at the detective with a confused look on his face and replied “I don’t know, it all happened so fast.”

Top joke in Scotland I want to die peacefully in my sleep like my grandfather. Not screaming in terror like his passengers.

Top joke in Northern Ireland

A doctor says to his patient, “I have bad news and worse news.”

“Oh dear, what’s the bad news?” asks the patient.

The doctor replies, “You only have 24 hours to live”.

“That’s terrible,” said the patient. “How can the news possibly be worse?”

The doctor replies, “I’ve been trying to contact you since yesterday.”

“Just for fun, we had the LaughLab computer count the number of words in every joke that people submitted.

According to the data, jokes containing one hundred and three words are the funniest. Interestingly, the winning “hunters” joke is 102 words long—almost the perfect length for a joke!” said Dr. Wiseman.

Putin’s call-up fuels Russians’ anger, protests and violence

By Dasha Litvinova | The Associated Press

purify water and replenish ground sources. The wetland harbors young fish and seasonally flooded forests that provide aquatic resources for food and livelihoods for many communities in the region.

In Malaysia, the Titiwangsa Mountain Range that covers Peninsular Malaysia and adjacent areas of Thailand makes up a complex river system that regulates the water flow in several localities. Its diverse riparian vegetation and terrestrial makeup contribute to the regulation of voluminous rainwater, especially during the monsoon season.

These ecosystems are just some of the nature-based solutions that shield us from devastating hazards. Thus, our response should always integrate the protection of remaining natural ecosystems and the restoration of degraded ones. Not only are they useful as natural barriers in times of disaster, but they can also be sources of food and first aid when assistance is not immediately available because accessibility has been affected.

In the case of the Philippines, experts have zeroed in on the power of nature: contact with the eastern seaboard dulls the power of these disturbances on a regular basis. Much like the towering mountain ranges and the dense forests of Sierra Madre, a combination of the coastal mangroves in the eastern portion of Isabela and Aurora provinces as well as the healthy mesophotic reefs of the Philippine Rise are also key in curbing the impacts of strong typhoons. The pristine coral ecosystems of the Philippine Rise are the “refuge of the future,” offering an effective buffer against strong typhoons and a potent rehabilitation area to reseed destroyed shallow coral reef areas.

For a region as rich in biodiversity as the Asean, the same can be said with how vital its ecosystems are in the overall discourse of resilience-building. Being endowed with abundant natural heritage, we have a high stake in sustainably harnessing nature as our solution to current challenges. Thus, the protection of ecosystems and the diversity of flora and fauna species found within them will only yield tangible benefits for both people and nature: providing clean water, ensuring food security, facilitating natural healing, and regulating a host of diseases.

We cannot wait for another disaster to remind us how much benefit we can derive from nature. Climate change may have something to do with the extreme weather conditions we are experiencing now, and indeed new technologies can be developed and adopted to reduce its impacts. But for the Philippines and the rest of Asean, the most cost-effective solution may just be right in front of us—the rich biological diversity that our region has been blessed with to help us weather the storm.

While the Asean region continues to work towards an efficient response in the face of crises, recovering fully and building a truly greener, better, and more resilient community entails collective actions from everyone. By building on measures that sustainably harness the power of nature as a solution, truly, we can address challenges together.

Dr. Theresa Mundita S. Lim is the Executive Director at the Asean Centre for Biodiversity

TALLINN, Estonia—Long lines of cars on roads snaking to Russia’s border crossings with Georgia, Kazakhstan and Mongolia, and similar queues at airports.

Angry demonstrations—not just in Moscow and St. Petersburg—but in the remote far north province of Yakutia and in the southern region of Dagestan, with women chasing a police officer and shouting, “No to war!”

A gunman who opened fire in an enlistment office in a Siberian city and gravely wounded the military commandant, saying, “We will all go home now.”

Five days after President Vladimir Putin announced a partial mobilization to call up hundreds of thousands of reservists to fight in Ukraine, the move has triggered outraged protests, a fearful exodus and acts of violence across the vast country.

“Panic. All the people I know are in panic,” said David, a Russian who gave only his first name out of fear of reprisals, in an interview with The Associated Press at a border crossing with Georgia. “We are running from the regime that kills people.”

While the Kremlin had wanted to promote its orchestrated referendums in occupied parts of Ukraine as a joyful event, with those regions expected to join Russia in a move similar to the annexation of Crimea in 2014, it instead is dealing with instability and chaos at home.

State-run rallies were held in Moscow and other cities celebrating the referendums even before the conclusion of several days of balloting that has been denounced as pre-ordained, phony and illegitimate by Kyiv and the West.

In his address on Wednesday announcing the mobilization, Putin said the Kremlin would “support” the regions of Donetsk, Luhansk, Zaporizhzhia and Kherson in their push to be incorporated into Russia.

But the mood in Russia has been anything but festive.

Fears are running high that Moscow might close the borders to men of fighting age after the referendums in Ukraine end, prompting long lines of cars at Russia’s frontiers. Telegram chats dedicated to some of these crossings swelled with thousands of new users.

The lines apparently persisted Monday. The online service Yandex Maps showed a 18-kilometer traffic jam on a road in Russia’s region of North Ossetia that leads up to the border with Georgia, and the regional branch of the Federal Security Service, or FSB, deployed an armored vehicle to the crossing.

Officials told Russia’s RBC news site that the action came “just in case the reservists want to break through the (border) checkpoint and leave the country without completing any border formalities,” promising not to restrict any exits.

“Call-up notices are being served to everyone. Nobody knows who will receive one tomorrow and therefore we decided with friends for the time being to rest in a beautiful country,” said Roman Isif, a Russian who crossed into Larsi, Georgia, in an interview with AP.

Long queues and crowds were reported Sunday in at least two of four Moscow airports. Tickets to destinations still available to Russians after the European Union halted all direct flights—such as Turkey, Armenia, Serbia and Dubai— have been sold out for days, despite exorbitant prices.

Russian media—including state-run outlets—reported Monday that border guards have started turning men away at the border, citing mobilization law. It wasn’t immediately clear how widespread the practice was. Although state television painted a rosy picture of the mobilization drive, with Russia 1 TV on Sunday showing crowds of eager men lining up to enlist “in almost every region,” the reality was different.

Enlistment offices and other administrative buildings have been set on fire since the start of the call-up. Although such incidents, usually involving Molotov cocktails, have been common during the 7-month-old invasion, they have grown in number and frequency after Putin’s speech.

Russian independent news outlets counted at least 17 such incidents in recent days, on top of 37 before the mobilization was announced.

Enlistment offices and other administrative buildings have been set on fire since the start of the call-up. Although such incidents, usually involving Molotov cocktails, have been common during the 7-month-old invasion, they have grown in number and frequency after Putin’s speech.

A man walked into the enlistment office in the Siberian city of Ust-Ilimsk and opened fire, shooting the military commandant at close range.

Russian media reported the man, identified as Ruslan Zinin, 25, was upset that his best friend who didn’t have any combat experience was called up. Authorities have said such experience would be the main criteria for the mobilization.

Zinin, who was arrested, reportedly said, “No one will go fighting,” and “We will all go home now.” His victim was hospitalized in intensive care in an “extremely grave” condition, the reports said.

Also on Monday, a man at a bus station in Ryazan, a city about 200 kilometers southeast of Moscow, reportedly doused himself with a flammable liquid and set himself on fire, shouting he didn’t want to take part in Russia’s “special military operation” in Ukraine. He reportedly sustained minor injuries and was detained by police.

As troubling as these incidents are, it is the spread of protests to far-flung strongholds of Putin’s base of support that could be more concerning for the Kremlin, with women confronting authorities about “taking our sons.” Although the mobilization was said to total about 300,000 men, some media reports claim the authorities plan to muster more than 1 million, which Moscow denied.

Even though initial demonstrations against the mobilization were brutally suppressed by police, with hundreds detained shortly after it was announced, more have broken out in various regions. Over the weekend, women rallied against the call-up in the remote province of Yakutia in Russia’s far north.

In Mahachkala, the capital of the predominantly Muslim province of Dagestan, a crowd of women in headscarves gathered Sunday, chanting “No to war.”

Some of them chased a police officer away from the protest, while others stood in front of a police car, preventing it from

moving and demanding the release of detained protesters inside.

Protests in Dagestan continued Monday, with demonstrators clashing with police. Outrage also spilled into the streets of another North Caucasus region, Kabardino-Balkaria. Video showed a crowd of women surrounding a man in a suit, identified by the media as a local official, with one screaming: “Do you know where you’re sending him?”—an apparent reference to someone close to her being mobilized.

Dagestan, as well as the Siberian region of Buryatia, is among several regions where there are complaints that a disproportionate number of ethnic minorities have been deployed to fight and have died in Ukraine.

“For our state, we are not its citizens, but cannon fodder in this war. Just a resource,” said Pavel, a 40-year-old resident of Buryatia who fled to Mongolia last week to avoid getting called up. He spoke to AP on condition that his last name not be used, fearing retribution.

“Siberia and the Far East are being actively sold—timber, minerals, land leased for 50 years. And it turns out that people living here are also processed as a resource,” he added.

Putin is “risking a lot by announcing mobilization, he’s losing support, he’s creating a pre-revolutionary situation –protests, arson incidents at enlistment offices,” political analyst Abbas Gallyamov told AP.

Given the atmosphere of instability and Russia’s recent battlefield setbacks, the referendums in Ukraine are unlikely to have any influence on public opinion, he said.

“No one needs these referendums— not the Russian public, not even the patriots anymore,” Gallyamov added.

Andrei Kolesnikov, senior fellow at the Carnegie Endowment for International Peace, pointed out that polls indicate about half the Russian people unconditionally support the war, with about a third whose backing comes with caveats.

The latter constitutes “a reservoir of doubt and discontent,” Kolesnikov told AP. “It is already clear that the mobilization is not partial, and if this becomes more and more obvious, then the mood may begin to change. Putin is taking a big risk.” Michael Kohn in Bend, Oregon, contributed.

ADB to allot $14B to AsPac to ease worsening food crisis

By Jasper Emmanuel Y. Arcalas @jearcalas & Cai U. Ordinario @caiordinario

THE Asian Development Bank (ADB) announced Tuesday that it will provide at least $14 billion from 2022 to 2025 to help countries in the Asia and Pacific region ease the “worsening” food crisis amid issues of climate crisis and biodiversity loss.

A DB President Masatsugu Asaka wa said the $14-billion funding over the next three years is a “timely” and “urgently needed” response to the on going food crisis that is “leaving too many poor Asian families hungry” and “in deeper poverty.”

We need to act now, before the impacts of climate change worsen and further erode the region’s hard-won development gains,” Asakawa said.

Our support will be targeted, in tegrated, and impactful to help vul nerable people, particularly vulner able women, in the near-term, while bolstering food systems to reduce the

impact of emerging and future food security risks,” Asakawa added.

T he Manila-based multilateral development bank said the fund would also be used to improve longterm food security in the region “by strengthening food systems against the impacts of climate change and biodiversity loss.”

T he ADB said the additional fund ing expands its “already significant” support for food security in the re gion, where nearly 1.1 billion people lack healthy diets due to poverty and food prices.

T he new funding would come from

ADB’s sovereign and private sector operations, and seek to leverage an additional $5 billion in private sector co-financing for food security.

“ The funding will be channeled through existing and new projects in sectors including farm inputs, food production and distribution, social protection, irrigation, and water resources management, as well as projects leveraging nature-based so lutions,” it said in a statement.

ADB will continue to invest in other activities which contribute to food security such as energy tran sition, transport, access to rural fi nance, environmental management, health, and education,” it added.

Additional commitments

MEANWHILE , in a briefing on Tues day, Asakawa said the ADB has pro grammed an additional $10.7 billion in additional commitments between 2023 and 2025 in order to address food security and climate change.

T hese will be spent to undertake three important strategies to build stronger, more sustainable, and eq uitable food systems.

T he first is to scale up climate mitigation and climate adaptation investments across the entire food

and agriculture value chain.

T his means, he said, supporting participation of smallholder farmers and women in building the resilience of farm communities.

T he second strategy, Asakawa said, will promote digital transformation initiatives. This will now include ef forts to improve agricultural produc tion as well as fisheries and livestock.

T he last strategy is to promote nature-based solutions that seek to develop innovative financial instru ments to attract capital. This will be used to build “environment-friendly food systems, and to promote more balanced diets.”

We understand that food secu rity requires food systems that are resilient. Our continued support for agriculture, natural resources, and rural development will contribute to this,” Asakawa said.

Civil society concerns

MEANWHILE , civil society organi zations (CSOs) and project-affected communities highlighted the need to address environmental disasters such as super typhoon Karding (inter national name Noru) and the floods that swept through Pakistan.

PALACE: NOTHING FINAL ON RUSSIAN FERTILIZER, FUEL PURCHASE PLANS

MALACAÑANG said the govern ment has yet to finalize any deal for the procurement of Russian fuel and fertilizer.

I n a press conference on Tuesday, Press Secretary Be atrix “Trixie” Cruz-Angeles declined to further com ment on the matter since the said transactions are still pending.

Until the agreement has been finalized, then we cannot disclose the pend ing transactions,” Angeles said.

S he issued the statement after President Ferdinand “Bongbong” R. Marcos Jr.  said in an interview with Bloomberg during his visit in the United States last week that he is considering buying fertilizer and fuel from Russia.

M arcos said he entered into talks with Russia de spite being aware of the existing international sanctions imposed by Eu rope and the United States

against it for its invasion of Ukraine.

T he sanctions aim to fi nancially hurt Russia and stop it from continuing its military operations in Ukraine by restricting its trade with other countries.

M arcos noted the gov ernment is currently con sidering alternative suppli ers for fuel and fertilizers like Russia, as the prices of both commodities in the international market con tinue to rise due to high demand.

He said he must priori tize national interests over his personal concerns in the Ukraine conflict.

I n his meeting with the Asia Society in New York last week, Marcos said he is worried over the pos sible escalation of tension in Ukraine, which he said could lead to the use of nu clear arms.

He urged the parties in the conflict to peacefully resolve their differences.

Samuel P. Medenilla

Aboitiz to leave Sri Lankan feed market by yearend

By VG Cabuag @villygc

application with the Securities and exchange Commission (SeC) for the issuance of fixed-rate retail bonds with an aggregate principal amount of up to P12 billion, inclusive of oversubscription.

t he debt is expected to be offered to the general public during the fourth quarter. A eV intends to list the debt on the Philippine Dealing and exchange Corp.

Cebu Pacific to use sustainable aviation fuel from Shell

In its disclosure, A eV said Gold Coin Management Holdings Pte. ltd. together with Glen Arbor Holdings (Singapore) Pte. ltd. have entered into a share sale and purchase agreement with new Anthoney’s Farms ltd. for the sale and disposition of 100 percent equity interest in Gold Coin Feed Mills (l a nka) limited.

“Following the signing of the agreement and subject to completion of conditions precedent, the

transaction is expected to be completed by the year-end of 2022,” the company said.

GCF l is a company engaged in the manufacturing and distribution of animal feed products in Sri l a nka, while Glen Arbor and Gold Coin are Singapore-based subsidiaries of A e V, whose shares are held through Pilmico International Pte. l t d.

A e V, meanwhile, has filed an

t he application consists of the issuance of the fourth and final tranche of fixed-rate bonds amounting to P7.45 billion from its P30billion shelf registration program, which was registered with the SeC on June 3, 2019. It will also include P4.55 billion in oversubscription option, which will come from its new shelf registration program amounting to P30 billion.

t he proceeds from the bonds are intended to partially fund A eV ’s equity contribution to its wholly owned subsidiary, Aboitiz InfraCapital, Inc., which will use such amount to acquire interest in GMr Megawide Cebu Airport Corp. and the repayment of certain outstanding bonds of A eV

t he said paper received a credit rating of Pr S Aaa, with a Stable outlook from the Philippine r ating Services Corp. It also maintained the issue credit rating of Pr S Aaa, with a Stable outlook, for A eV ’s total outstanding bonds.

In April, A eV announced that it has allocated P69 billion in capital expenditures (capex) for the year. of the amount, 42 percent will go to capital-intensive infrastructure projects.

l a st year, the company spent some P27 billion in capex, half of which was allocated for the power business.

t his year, however, it is allocating some P28 billion for its power business, still more than the previous year’s entire capex.

PGEC to build solar farm in Bohol

By Lenie Lectura @llectura

PetroGreen e nergy Corp. (PGe C ), the renewable energy ( r e) arm of Yuchengcoled Petroe nergy r e sources Corp. (P e r C ), expects the completion and commercial operation of its planned 27MW solar power project in the last quarter of 2024.

t he company launched tuesday its 27MW Dagohoy Solar Power Project (DSPP) in Brgy. San Vicente, Dagohoy, Bohol.

t he DSPP will be located in a 22-hectare site and will utilize

61,200 solar panels. “o nce operational, we expect DSPP to produce approximately 36 GWh (gigawatt hours) of electricity annually, enough to serve around 15,000 households,” PGe C Assistant Vice President for o p erations Maria Victoria M. ol ivar said.

At present, PGe C is completing all the necessary pre-development permits. “Barring any delays, we expect to complete and commercially operate the solar power facility by fourth quarter of 2024, at the earliest.”

As a solar power project, DSPP will have no greenhouse gas emis-

sion and is considered to be cleaner and more environment-friendly than fossil-fired power plants.

“ t h is project is very much aligned with our vision of Green Bohol,” said Bohol Governor Aris Aumentado.

Aumentado, together with key local government officials of the Dagohoy, Barangay Council of San Vicente, and senior executives of PGe C , led the symbolic laying of capsule containing the project’s conceptual design.

Dagohoy Municipal Mayor Hermie r e lampagos welcomed the development and called it a “game-

changer” that can help transform their town.

“We are very happy that PGeC c hose to invest in our town. Dagohoy is a 5th class municipality and we know that projects such as DSPP, will bring socio-economic benefits that can help our people. We are ready and willing to extend all the help and support we can give to make this successful,” said relampagos.

PGe C holds interests in the 32 MW Maibarara Geothermal Power Project in Batangas, 36 MW na bas-1 Wind Power Plant in Aklan, and the 70 MW ta rlac Solar Power Projsect in ta rlac City.

DMCI, SMPC among outstanding firms in Asia

By Lorenz S. Marasigan @lorenzmarasigan

SInGAPore Cebu Pacific has tapped Shell Aviation for the supply of sustainable aviation fuel (SAF), which is as much as eight times more expensive than conventional fuel.

t he two companies signed on tuesday a memorandum of agreement for Shell Aviation to supply 25,000 metric tons of SAF per year to Cebu Pacific from 2026 to 2031.

Cebu Pacific Chief Strategy of ficer Alex B. reyes noted that SAF will be initially used to take delivery of new planes from Airbus.

t his is just a first step,” he said. “As far as the commercial flights are concerned, there are no firm plans yet.”

Doris ta n, who heads Shell Aviation in Asia Pacific and the Middle east, noted that the supply of SAF is still limited, hence it is as much as eight times more expensive than conventional jet fuel.

She noted however that “if production ramps up, it will bring down the cost” of SAF.

SAF is said to reduce carbon emissions by as much as 80 percent. However, the caveat is that sustainable fuel is two to eight times more expensive than conventional aviation fuel.

“We all want to invest in SAF making it more part of our business as usual operations. Supply is actually not available and whatever is out there is more expensive than

Nlex Corp. has installed rainwater recovery systems and motion-sensor lights in its facilities to strengthen its sustainability thrust, its president said on tuesday.

lu igi l Bautista, the company’s president, said part of the initiatives is the installation of the initial two rainwater collection systems in the Floridablanca and Dinalupihan rest bays at the Subi-Clark-ta rlac ex pressway.

t h ese facilities will harvest large volumes of rainwater, which will then be used for the public restrooms in the said areas. t he rainwater catchments can store and repurpose approximately 2,000 liters of water, helping beef up water sufficiency.

roughly 100 motion-sensor lights are also being installed in its 12 buildings throughout 2022 to reduce the company’s carbon footprint.

“With sustainability at the core of our values, we always ensure that our operations and environmental responsibility programs center on cutting our carbon footprint, reducing waste, and improving resource efficiency all for the benefit of our communities, more so the next generation,” Bautista said. Lorenz S. Marasigan

ReCeiving

DIV e r S IFI e D engineering conglomerate DMCI Holdings (PSe: DMC) and its integrated energy subsidiary Semirara Mining and Power Corporation (PSe: SCC) were among the listed companies recognized in the Asiamoney 2022 Asia’s o utstanding Companies Poll.

DMC won as the Most o utstanding Company in the Philippines for the Construction and e n gineering Sector while SCC emerged as

the Most o utstanding Company in the Philippines for the Materials Sector.

“We are honored to receive these recognitions because they reflect the hard work of our people and the strong support of our capital market stakeholders,” said DMC and SCC Chairman and C e o Isidro A. Consunji.

t he Asiamoney poll is designed to acknowledge the listed companies that have excelled in areas such

as financial performance, management team excellence, investor relations and CSr initiatives.

o ver 950 fund managers, buyside analysts, bankers and research analysts took part in the voting.

Around 4,620 votes were received for publicly listed companies across 12 markets in Asia. t he results recognize 175 companies as being outstanding for their sectors and their market.

Con G l o M e r A t e Ayala Corp. has elected Mercedita S. nolledo as its new director who will serve the unexpired term of Fernando Zobel de Ayala, who resigned from the board a few weeks ago.

Zobel, meanwhile, will serve as a special advisor to the board, according to the company’s disclosure.

nolledo, 81, has served as director of Ayala Corp. from 2004 until September 2010. She is currently a member of the board of trustees of Ayala Foundation Inc., BPI Foundation Inc., advisory board of Ayala l a nd Inc. and the BPI Advisory Council.

She also served as a member of the board of directors of BPI for 30 years from 1991 to 2021, as the chairman of the BPI’s retirement and pension committee and and a member of the corporate governance committee.

nolledo is a non-executive director of Xurpas Inc. and an independent director of D& l Industries Inc., both listed companies.

Meanwhile, Cezar P. Consing, has been appointed as the group’s president and Ceo replacing Zobel.

jet aviation fuel. We’re in very early stages for this,” reyes said.

Should Cebu Pacific decide to incorporate SAF in its commercial flights, passengers will have to shoulder the difference between SAF and conventional fuel.

“We try to reflect the operating economics to the passengers…up to the point that consumers are willing to pay,” reyes replied.

Aside from reducing its use of conventional jet fuel, the Gokongweiled carrier is gunning for net zero emissions by 2050 by replacing its fleet of old current engine option (Ceo) planes with new engine option (neo) jets.

reyes noted that the company is strengthening its sustainability initiatives with its refleeting program through 2028.

Currently, the majority of Cebu Pacific’s fleet are still Airbus Ceo jets, with only 43 percent of its entire fleet neo planes. By 2028, it should have a fleet of 100 percent Airbus neo jets.

“We are looking at replacing our entire fleet of Airbus A320 Ceos our plan is to completely replace them with Airbus A320 and Airbus A321 neos…by 2028,” reyes said, noting that the carrier is “very committed” to completing this endeavor.

neo planes use 20 percent less aviation fuel than C eos, making these jets more fuel efficient and reducing their carbon emissions.

“We’re expecting 51 brand new neo aircraft starting from now until 2028,” he added.

Cesar V. Purisima was elected as member of the Ayala’s finance committee, replacing Zobel.

Delfin l l a zaro was also elected as member of the risk management and related party transactions committee replacing Consing.

“In the same meeting, the board duly ratified the action of the risk management and related party transactions committee approving the clarification on the coverage of transfer of resources between wholly-owned subsidiaries of an ultimate common parent company or between a wholly-owned subsidiary and its parent, under item no. 7, clause H - of the corporation’s related party transactions policy, as including commercial transactions, such as but not limited to loans and borrowings,” Ayala said in its disclosure.

In mid-August, Zobel took a medical leave from the conglomerate and relinquished most of his duties to some senior members of the company. Weeks later, he announced that he has decided to step down from his posts.

Cabuag

This BusinessMirror file photo shows a long-range A330neo aircraft ordered by Cebu Pacific from Airbus.

Aboitiz Equity Ventures inc. (AEV) on tuesday said it has struck a deal to exit the Sri Lankan market as part of its general direction to grow its animal feeds business in Southeast Asia and in China.

M. Consunji

O. Mojica (middle) and investor Relations Officer hannah Cecille L. Chan (second from right). Contributed photo

MSMEs mentored by ‘big brothers’ in business

2 Davao de Oro associations get P290K worth of livelihood kits

By Manuel T. Cayon @awimailbox Mindanao Bureau Chief

By Roderick L. Abad @rodrik_28 Contributor

to name a few. “But it’s not my [main investments] because I have to focus on my specialty, which is being an actor. And the money I make, I make sure that I invest it in what I really want, not necessarily in business… I always bring it to real estate.”

DAVAO

CITY—Two associations of disadvantaged community residents in Davao de Oro (formerly Compostela Valley), received livelihood kits worth a total of P290,000 from the Department of Trade and Industry (DTI), the agency said.

Each association has 30 members and they were the latest to benefit from the DTI’s assistance for people in the geographically isolated and disadvantaged areas (GIDA), as well as those identified by the National Task Force to End Local Communist Armed Conflict (NTF-ELCAC).

The Pangkabuhayan sa Pagbangon at Ginhawa (PPG) program of the DTI gave P148,100 to the first group, the Pangamot ug Tabang ni San Isidro Association (Pantasya) from San Isidro, Nabunturan town.

The kit has sewing machines, piping machines, working tables, and other supplies and materials for slippermaking. These were turned over to its members last September 7 in the presence of municipal councilor Glenn Arangcon, representing Mayor Myrcocel Balil and barangay chairman Mario F. Bacolod of San Isidro.

The second group, the Upper Ulip Solo Parents Home-Based Workers Association, received P148,902 worth of livelihood kit on September 9 at Upper Ulip, Monkayo town.

The package was composed of espresso machines, coffee grinders, water dispenser, freezer, electric burner, water bottles, tables, blender, electric kettle, mugs, thermos, sugar, and coffee beans. These equipment and materials would be used for the Kapehan sa Ulip Coffee Shop, the brainchild, as well as, the result of the collaboration between the Philippine National Police—Revitalized Pulis sa Barangay (PNP-RPSB) and members of the association.

The second distribution of livelihood kits was witnessed by Lt. Eduardo C Manila, head of the RPSB Cluster 19, Maj. Ranel B Marquizo head of the Police Provincial Community Affairs Development Unit (PCADU), Councilor Mary Ceniza, who represented Mayor Manuel “Way Kurat” E. Zamora, and Barangay Councilor Jocelyn Francisco, who represented Barangay Captain Fernando F. Latiban.

Lucky Siegfred M. Balleque, provincial director of DTI-Davao de Oro also witnessed the distribution along with DTI division chief Patrick Kim B. Evangelio and senior trade and industry development specialist Faustino E. Diabordo.

“We chose not to monetize our PPG assistance with the hopes of having these kits more useful to the chosen people’s organizations. Instead of money, these livelihood kits could directly be used to start and run the group’s chosen business,” Balleque said.

Balleque acknowledged the help provided by the police’s RPSB and the PCADU in identifying the beneficiaries.

“Assisting our PPG MSMEs is not merely providing them with money to finance the business they want. Assisting the PPG MSMEs is making sure that they are sustainable through the provision of livelihood kits that they could directly and immediately use for their respective businesses. With the common goal of having a whole of nation approach, we opted to partner with the PNP-RPSB and PNP-PCADU. We are just so thankful that they are very responsive and active—which makes the implementation of PPG efficient,” added Balleque.

Some 22 more group beneficiaries across Davao de Oro would be receiving their kits soon from DTI within the year. The office is targeting to cover a total of 720 beneficiaries in 2022.

“The successful turnout today of these big-brother companies and businessmen is the very essence of our Kapatid Angat Lahat program, where big business helps the small so that eventually they, too, can help other aspiring entrepreneurs,” said Joey Concepcion, founder of Go Negosyo.

Imbibing the brotherhood principle, such initiative aims to integrate MSMEs into the value chain of medium and large corporations.

This bodes well with the 3M on Wheels, a free nationwide mentorship program by the Philippine Cen-

ter for Entrepreneurship.

“Access to all these three elements, the three M’s—money, markets and mentoring—are essential in growing small businesses. More people with meaningful employment will redound to more economic activity, which will benefit even the large corporations,” he said.

As one of the business-friendly local government units in the country, Muntinlupa gives important value to Go Negosyo’s mentorship efforts.

“What we can teach to small and budding entrepreneurs coming from those with business expertise and ex-

perience is very vital. So we embrace with open arms this program—the 3M [on Wheels initiative],” Muntinlupa Mayor Ruffy Biazon said in mixed Filipino and English.

Actor Aga Muhlach could not agree more about the pivotal role of Go Negosyo in boosting the entrepreneurial spirits of Filipinos with such on-ground mentoring activity.

“A lot of our kababayan, sometimes they don’t know where to turn to on how to start a small business. That’s why thanks a lot to Go Negosyo for

Experts share insights on how brands can still thrive in e-commerce after pandemic

THE Covid-19 pandemic maybe nearing its end, but Filipino brands are encouraged to focus on two core areas to succeed in the ecommerce space, which is seen to continue its growth trajectory.

“[The] Philippines is the fastest growing e-commerce market globally,” Etaily Chief Executive Officer (CEO) and Cofounder Alexander Friedhoff told reporters during the media launch of the Etail Insider roundtable series held in Taguig City on Thursday, September 15.

Statistics show that there were 73 million active cyber store users in the country in 2021, bringing the total online sales to $17 billion. This year, e-commerce is seen to expand by 20 percent to 25 percent amid the easing health crisis.

“We are very much convinced that we see this in our numbers not only in the Philippines but in the entire [Southeast] Asia that it will grow post-pandemic significantly,” he said, while attributing this to the average 10 hours plus time spent by Filipinos in using the Internet.

“When you look at the Internet penetration and the Internet users in the Philippines, it increased by 4.2 million from 2020 to 2021, and it’s even higher now from 2021 to 2022. So we really have to understand how many new users are there whom we have to target,” he added.

To capitalize on the vast opportunity and gain a strong foothold in the digital shopping space, local brands ought to have an accurate and deep understanding of the changing online customers, as well as business strength to adapt to the demands of the times. These are the two keys for them to thrive in the postpandemic digital era.

Friedhoff recommended that the first thing they need to do is “building the trust of the new consumers, and once you have built trust and loyalty, you will always have them.” The second is investment in a “multi-location, tech-enabled, more efficient supply chain” that can precisely monitor the customers’ orders in real-time, deliver them fast and safely, and study and anticipate their future needs via data analytics.

Resilience in e-commerce can be achieved by “a whole stack of capabilities to help the brands further in their e-retail journey,” he continued. For him, these new kinds of operations that are tech-enabled and supply-chain-optimized also address the biggest problems of fast-moving consumer goods (FMCG) on the web: high volume and low margins. He cited, for instance, that “multiwarehousing solutions reduce delivery lead times, lessen delivery costs, and improve order-to-cash cycle.”

Hitting the right audience

EVEN though Century Pacific Food Inc.’s pet food brand Goodest is a newbie in its category, it has set a good example

of how spending much time and effort to know the online customers could lead to success.

Alexander Lim, head of innovations and general manager for pet food at Century Pacific, conceded that e-commerce “was a new frontier” after working in FMCG for a decade.

“Know your territory and your customer if you want to succeed in the digital frontier,” he said. “We went at digital 100 percent and tried things that Century hasn’t done.”

Doing so was not by its lonesome but with the help of partners like Etaily. He noted, “We learned so much from them in a short time. One of Etaily’s big contributions was managing our digital assets, making sure our online presence was seamless.”

Thankful of the e-commerce enabler, he said that Goodest has made it to the Top 5 of the most popular digital marketplaces—No. 3 in Shopee Pet Care and No. 5 in Lazada Pet Food—despite being in a tough market.

“FMCGs know how to make a good product and do good marketing, but we do need to know digital,” Lim pointed out.

For Colourette Cosmetics, on the other hand, which initially lacked capitalization and a manual to guide them in starting their foray in the e-commerce landscape, the company’s CEO, Nina Dizon-Cabrera, shared that they depended more on social media and “the power of content” to reach and create an impact to their target market.

Consistency, likewise, has worked for the start-up. The three things that are always present in her content, she said, are: “Inclusivity: I wanted to make a make-up brand for Filipinos by Filipinos. Advocacy: people support brands who believe in the same things they believe.

Community: it must be in everything that you do.” At present, Colourette is one of the top brands of TikTok Shop, a digital shopping platform of the popular Chinese app.

Riding e-commerce trend

FMCGs must consider a post-pandemic customer trend, per Lazada FMCG Senior Category Manager Joey Ermita Bienvenida.

“E-commerce is ingrained in our daily lives and here to stay. What is important right now is bridging the experience from offline to online,” he said.

Of all the product lines online, it is the beauty segment that is getting much attraction with the reopening of the economy. Bienvenida said: “We are seeing the demand for beauty products because we see people more often than before.”

Jonah Ople, TikTok Shop’s Global E-commerce SEA Philippines lead for acquisition and incubation, added that brands must pay attention to the “change of guard in the customers: the Gen Zs who need to resonate with your brand.” The app’s creatives can amplify the brand’s message since they entice such clients to actually “participate, review, and create interesting videos about your product.”

your assistance,” he said, while lauding Concepcion for spearheading such program. In a sideline interview, the multi-awarded actor told reporters that he has started putting his hardearned money from show business at the age of 12 to various investments.

“Being an actor is my business already. That’s where I make my big bucks. So I co-produce my films, I coproduce my TV shows. So I’m there already, and then I just invest, invest, invest,” he said, while disclosing his some stakes in bars and restaurants,

Regardless of what entities they want to pursue, he advised enterprising individuals to have a mindset that is to “always think big. Start small with your business. With anything, think big, but do not act big. Do not act like entitled and boastful. It’s always nice that you’re grounded, and then quietly enjoy the graces you get [from your business].”

Mindful of the ensuing Covid-19 pandemic that has impacted a great number of businesses in the country, particularly the MSMEs, Concepcion urged them to “push hard and continue to grow your business.”

“Remain optimistic because all of those who believe that there is no end to our problems will also be a problem for you because that is your business. Despite all the challenges in life, and in these many years that we’ve been doing this [3M on Wheels], we’ve gone through ups and downs. But the Philippines is definitely on an upward trajectory,” stressed the entrepreneurial czar.

Forum highlights crucial role of digital tech for MSMEs in PHL’s recovery thrust

By Rizal Raoul S. Reyes @brownindio Contributor

“There is a need to act quickly to capitalize on this opportunity and enhance the bandwidth and determination of cables in the Philippines,”

DIGITAL

technology is an indispensable tool for micro, small and medium enterprises (MSMEs) to achieve growth.

“Digital technology is an invaluable tool for business in allowing MSME operations in the digital space. This is especially crucial in the Philippines, where over 99 percent of businesses are MSMEs. We also need to build skills and upgrade talent so that non-tech people can understand the capabilities of technology,” said Globe Group President and CEO Ernest Cu in a recent forum on “Promoting Broad-Based Prosperity Through Digital Infrastructure held on September 7 and organized by The Stratbase Group in partnership with consumer group CitizenWatch Philippines.

Cu also noted the pandemic showed how crucial digital technology and ICT are in daily life.

In response, Globe has been providing digital solutions that enable businesses, including fiber connectivity, communication tools, payroll solutions, and even logistics trackers.

“Other than connectivity, infrastructure, technology and innovation, there is People RWA—Readiness, Willingness, Ability,” he said. “Digitalization without purpose will lose its value.”

Cu said the transition into being a digital nation would need a relevant framework, policies and partnerships. “We need the national government, LGUs (local government unit) and other stakeholders in the private sector to collaborate.”

Emmanuel Estrada, Globe’s Head of Regulatory Development and Strategy, raised the importance of ensuring a secure digital environment and explained that cybersecurity has two sides: the network side and the consumer side.

From the network side, telcos are working hard and making cybersecurity their priority. At the same time, they are educating users to be vigilant and cautious in their use of technology.

He also pointed out the importance of government-initiated enabling policies that would make the Internet more available and stable as needed. “These should be supplemented by efficiencies in actually implementing those policies.”

Microsoft Philippines CEO Peter Maquera said with digital capability building capability, every person is empowered with the skills, the knowledge, and the opportunity to succeed in the digital economy which is crucial to achieving inclusive prosperity.

“Closing the skills gap, supporting MSMEs, and driving an inclusive economic recovery will continue to require partnerships to bring technology and people together. So, this requires a partnership between companies and government agencies,” Maquera said.

Professor Victor Andres Manhit, Stratbase Group president, said that the Philippines needs both skills and business investments at every level—from the micro, small, and medium enterprises—to transform ourselves into a new digital society.

“We need industries and services to grow stronger, we need manufacturing to grow stronger,” he said. “At the core of these is digital infrastructure,” Manhit said.

But it would take a lot to encourage investments, Manhit conceded, both domestic and foreign.

“We need confidence in our systems, we need legal frameworks like the Public Service Act and the Foreign Investment Act. These are the initiatives that will drive growth,” he said.

Manhit added that building investor confidence is all about building the policy environment to sustain investment-led growth. And if the Filipino people themselves have adapted to the digital environment, ushered in by the pandemic, then the government must ask itself if it is also ready to transform itself and its policies.

Alexandra Garcia, FMCG director at Etaily, gave an overview of the e-commerce industry: “Most FMCG brands are still in the foundational stage of their ecommerce channel, building their understanding and knowledge but the demand is already there. With more people buying online, the companies realize they do not have their e-commerce capabilities set up, and they must double-time to have the result that they want. They also realize that they need experts, and this is where Etaily comes in.”

“Establishing policies and, at the same time, raising awareness on online security, cybersecurity, and even the strong implementation of the Data Privacy Act (DPA) should also be part of our inclusive approach to addressing these problems and issues,” Estrada explained.

“Government should transform its policy to work better with the private sector to transform the Philippines into a digitally ready society—from infra to systems, the use of other technologies, to push the economy forward.”

Roderick L. Abad

Dr. S. Ismail Shah, Asia-Pacific Meta (Facebook) Head of Connectivity and Access Policy, discussed their investments in submarine cables, which would benefit the Philippines being located strategically in the region.

For his part, CitizenWatch Philippines convenor Orlando Oxales said heavy investment by telcos to expand and upgrade digital infrastructures must be complemented by a competent workforce that have the matching skills for the digitalized operations of industries.

BIG names in both the public and private sectors have thrown their support to micro, small and medium enterprises (MSMEs) during the Go Negosyo’s 3M on Wheels event held recently at the Alabang Town Center in Muntinlupa City.

AWARD-WINNING actor Aga Muhlach (sixth from right), together with Muntinlupa Mayor Ruffy Biazon (fourth from right) and Go Negosyo Founder Joey Concepcion (fifth from right), strikes a pose with prospective entrepreneurs during the Go Negosyo’s 3M on Wheels event at the Alabang Town Center in Muntinlupa City on September 17. Contributed photo

ETAILY launches the first Etail Insider event to discuss the latest trends, topics, and tips for fastmoving consumer goods in the e-commerce space. Photo shows (from left): Joey Ermita Bienvenida, senior category manager, FMCG, Lazada; Jonah Ople, Global E-Commerce SEA Philippines lead for acquisition and incubation, TikTok Shop; Nina Dizon-Cabrera, chief executive officer, Colourette Cosmetics; Alexander Friedhoff, CEO and cofounder, Etaily; Alexandra Garcia, FMCG director, Etaily; Alexander Lim, head of innovation and general manager for pet food, Century Pacific Food Inc. Contributed photo

Congress OKs ‘Ease of Paying Taxes’ bill

THEHouse of Representatives has endorsed for Senate approval the proposed Ease of Paying Taxes (EOPT) Act.

This after lawmakers approved on third-and-final hearing House Bill (HB) 4125, which seeks to modernize tax administration and improve tax compliance.

For purposes of responsive tax administration, the bill said the Secretary of Finance, upon recommendation of the commissioner, shall establish reasonable criteria for classifying taxpayers, taking into consideration their capacity to comply with tax rules and regulations, the amount and type of tax paid, the gross sales and/or receipts of the taxpayer, as well as inflation, volume of business, wage and employment levels, and similar economic and financial factors.

The bill also institutionalizes simplified tax returns and processes for smaller taxpayers for ease of compliance to tax rules and regulations.

The measure also introduces a medium taxpayer classification and a corresponding Bureau of Internal Revenue (BIR) special unit for better service and tax administration.

HB 4125 enhances the portability of tax transactions by removing restriction of venue in the filing of returns and payment of taxes.

It also removes the distinction between sales invoice and official receipts and makes the former the document to be used by taxpayers to substantiate value-added tax (VAT) transactions whether for sale of goods or services.

The bill mandates the Commissioner of Internal Revenue to ensure the creation of registration facilities for non-resident taxpayers.

The bill also removes the required annual taxpayer registration fee payment worth P500.

It also legislates a Taxpayer’s Bill of Rights and designates a Taxpayers’ Advocate Office.

The bill said any person or public official who is found to have violated the taxpayer bill of rights shall be punished with imprisonment of not less than two years but not more than five years and a fine of not less than P50,000 but not more than P100,000. Jovee Marie N. Dela Cruz

Inflation

Banking&Finance

No reenacted budget for ’23–solon

By Jovee Marie N. dela Cruz @joveemarie

THE

senior vice chairman of the House Committee on Appropriations assured the public last Tuesday there would be no reenacted budget for next year as the Lower Chamber is expected to approve on final reading the proposed P5.268trillion 2023 General Appropriations Act (GAA) today, September 28.

During the Ugnayan sa Batasan News Forum, Appropriations Committee Senior Vice Chairperson Stella Luz A. Quimbo said the target is to pass both Houses the proposed 2023 GAA by the end of this year to avoid having a re-enacted budget.

“A re-enacted budget would mean delays in the delivery of public ser-

vices to the detriment of our people.

NEDA estimated that in 2019, the reenacted budget costed us 1-1.2 percentage points of the GDP growth,” said Quimbo.

The lawmaker added they expect “to wrap up the plenary debates for the 2023 national budget” on Wednesday.

“It’s the second stage of the budget process where Congress members dedicate another pair of eyes to review the proposed budget,” Quimbo said. She added that, “so far,” the Lower Chamber has “terminated the debates for 61 agencies and constitutional bodies, leaving us with 14 more to deliberate.”

Highest ever

THE proposed P5.268-trillion national budget, the highest ever if approved by Congress, is P244 billion more than this year’s P5,023.6-trillion spending program. It represents 22.1 of gross domestic product (GDP).

The Department of Budget and Management has said government expects 2023 revenues to grow by 10 percent year-on-year to P3.632.9 trillion, or 15.3 percent of GDP, while disbursements will increase by 2.6 percent to P5.085.8 trillion. Deficit, on the other hand, is expected to decline to P1.453.0 trillion, or 6.1 percent of GDP, from this year’s program of P1.650.5 trillion or 7.6 percent of GDP.

By sector, social services will re-

ceive the biggest chunk of the P5.268 trillion budget with a P2.071-trillion allocation. Economic services follows with P1.528 trillion, general public services with P807.2 billion, debt burden with P611 billion and defense with P250.7 billion.

This budget proposal would be the first full one-year outlay of the Marcos administration.

On track

QUIMBO emphasized that President Ferdinand R. Marcos Jr. has certified the immediate enactment of the 2023 GAA.

“Usually, bills go through three independent readings on three separate days. With the President’s certification of urgency, mapapabilis ang proseso dahil hindi na kinakailangan ng hiwalay na second at third reading,” she said. [The process will be accelerated because a separate second and third reading is no longer necessary.]

“This is why we can say with confidence that we are on track to pass the budget before October 1. After this, Congress will transmit the GAA to

the Senate, which will have its own version,” said Quimbo.

Likewise, the lawmaker explained that a bicameral conference will also be done to consolidate the versions of each chamber.

“We may have been running on a tight schedule since the budget season started, but the appropriations committee led by [Appropriations Chairman] Elizaldy S. Co is elated that we have stayed on track,” Quimbo said.

She noted, however, that the public may see that there are still “a lot of concerns that we need to address.”

“But I believe that the members are anchored to the same vision of passing a budget that is aligned with the needs of the districts and the marginalized sectors,” Quimbo said.

The lawmaker assures taxpayers the Lower Chamber will pass the budget on time “without compromising its quality.”

“We will pass a 2023 budget that is geared towards economic recovery and inclusive prosperity,” Quimbo said.

BSP should hike again amid peso’s plunge, local economist says

By Bianca Cuaresma @BcuaresmaBM

BANK of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr. said there is a possibility that monetary authorities will pull off another off-cycle rate hike before the year ends.

In his commentary released on Tuesday, Neri said the Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) could hike anew next month even if there is no scheduled MB meeting for October. This is in the wake of the next Federal Open Market Committee (FOMC) meeting in early November, when another 75 basis points (bps) increase is expected.

Should Neri’s prediction be true, this will be the fourth consecutive month that the BSP will hike rates since July. The latest BSP interest rate hike was made effective last September 23 at 50bps to 4.25 percent.

The economist also said that he hopes the next rate hike would not be a repeat of the low rate hike in June when “we were caught between two meetings of the FOMC with a much lower policy rate [adjustment].”

“Because in June, if you remember, the BSP hike [was] by 25bps when the FOMC hike [was] 75,” Neri said.

The economist said in early July, before BSP’s scheduled meeting took place, that US inflation for June was reported to have printed well above expectations, triggering a sharp jump in the dollar-to-peso exchange rates.

GIVEN the global meltdown in the equities and bond markets, coupled with the weakening of all currencies against the US dollar— which was caused by the US Fed increasing interest rates to bring down inflation, you might be wondering if this course of action is the right solution. Inflation is the rate of increase in prices of goods and services over a given period of time; and there are three major causes of this.

The three major causes of this are demandpull inflation, cost-pull or supply side inflation and built-in inflation. Demand-pull inflation occurs when the overall demand for goods and services increases more rapidly than the economy’s production capacity. Naturally if you have more demand than the available supply, this will cause prices to increase. What causes this increase in demand? A low interest rate makes consumer credit cheaper and attracts more people to buy goods and services.

An increase in the money supply or the total amount of money in circulation will also increase demand, since the people now have more money. How does this happen? Generally, this happens when there is more government spending, such as the stimulus checks or “ayuda” given during the lockdowns. Perhaps restraining the money supply is a better alternative to increasing interest rates to dampen consumer demand, since a higher interest rates creates many unwanted side effects such as a global recession.

Cost-pull or supply side inflation happens when the increase in prices of goods and services goes up due to their rising costs. The war in Ukraine and the sanctions against Russia caused disruptions in

“That’s why we were forced to increase by 75bps off-cycle.”

Impact on inflation

COINCIDENTALLY, the peso fell last Tuesday to a fresh all-time low and neared the P59 territory in its exchange against the greenback.

Data from the Bankers Association of the Philippines (BAP) showed that the peso closed the day’s trade with an exchange value of P58.99 to a dollar, weaker by almost half a peso from the P58.5-to-a-dollar rate in the previous day.

In comparison, the peso was valued at P56.42 to a dollar in the beginning of September, putting the loss of value at P2.57 in 18 trading days.

Neri said the country would have a problem if it falls behind on raising interest rates, especially considering the impact of a weaker peso on inflation amid the FOMC’s determination to do sustained, higher, and faster interest rate hikes.

“That’s a problem because while inflation was [the] ultimate target, the currency is an intermediate target, because we all know the weaker peso will have an influence on inflation later on,” he said.

Seen as dovish ACCORDING to Neri, monetary authorities are “not catching up with the higher, faster, longer signal of the FOMC.”

“Several foreign banks have already mentioned in reports that we are seen as dovish,” Neri continued, citing that a P60-to-a-dollar

the supply of certain goods such as oil and gas products, grains and other raw materials. This is on top of the disruptions due to Covid-19 lockdowns and restrictions that choked production and disrupted the global supply chain. It is also interesting to note that increasing interest rates to dampen consumer demand to bring down inflation, also increases the borrowing cost on the supply side, since they will now have to pay a higher interest rate, which is ultimately passed on to consumers through higher prices.

Built-in inflation occurs when workers demand their wages to increase when prices of goods and services go up, to maintain their standard of living. This is really a double-edged sword, since laborers demand higher pay, the cost of production increases, which in turn raises the cost of living. This death spiral can easily get out of control and actually cause more pain for the laborers. In 2022, 25 states and the District of Columbia increased the minimum wage to at least $10 an hour. In February 2020, the US unemployment rate fell to 3.5 percent, its lowest level since 1969 and is forecasted to hit 4.0 percent in 2023.

We can only hope that history teaches us a lesson to avoid going through the same pain needlessly and have the right people in the right place to lead and guide us through these difficult times.

The views and comments of Dr. George S. Chua are his own and not of the newspaper or the Financial Executives Institute of the Philippines (Finex). Chua, 2016 Finex president, is currently a professorial lecturer at the University of the Philippines Diliman and BGC campuses. He is also an active entrepreneur. Comments may be sent to gschua@up.edu.ph.

exchange rate is “just around the corner.”

The economist also warned that a mild policy rate hike might use up the country’s gross international reserves (GIR).

“The only thing that is preventing a 40-percent [to] 42-percent depreciation of the peso now, like in 1997, is probably that we have a GIR at seven months, which we have to be careful not to use up,” Neri said, adding that the country has energy and food security issues to contend with.

“Coal prices are at a record high,” he said, citing the Philippines’s 50-percent energy generation is dependent on coal.

“Winter is about to come and natural gas in Europe is going to get more expensive and so will coal,” Neri said.

“If we don’t hike aggressively enough, the seven months [of GIR] can suddenly revert to six months,” he warned adding that the 7-month GIR should really be preserved.

Look for alternatives

NERI’S advice for businessmen looking to import raw materials is to source elsewhere, other than the US or even China, as the Yuan is very competitive. “Source from Taiwan, Korea, Japan, where the currency is weaker,” he said.

For the Filipino saver, Neri said to look at fixed income.

“They are more reasonable now. They are not being repressed financially,” he pointed out, saying there are no more financial repression with the negative yield rates. “Ten-year yields, five-year yields are now giving more reasonable yields.”

“Now, you can start looking at more attractive yields for a longer tenor,” Neri advised retirees, as opposed to the only choice they had of buying Treasury bills.

“[The] ADB [Asian Development Bank] just came out with a 6.3-percent growth forecast for the Philippines next year,” he said. “So while consumers will be a little bit picky, the economy is looking quite strong.”

“And it has the momentum coming from pent up demand still because of being locked down for more than two years,” Neri added.

Bank, e-trike seller offer program in Laguna

By Rizal Raoul S. Reyes @brownindio

CITY

Savings Bank Inc. (CitySavings), the thrift bank subsidiary of Union Bank of the Philippines (UnionBank) and Elaia Green Vehicles Corp. (Elaia) recently expanded the scope of their jointmotorcycle loan facility to include the City of San Pedro, Laguna.

CitySavings President and CEO Lorenzo T. Ocampo said during the signing of an agreement last September 8 the lender is “truly delighted to support” the “sustainability efforts for a greener and more environmentally-friendly city.”

Ocampo said the bank hopes to expand further the reach of the lending facility.

The executive explained the partnership “aims to contribute to the country’s efforts at promoting [the United Nations’s]

Sustainable Development Goals (SDGs) 11 and 13. The former promotes ‘sustainable cities and communities’ while the latter, climate change actions.” The venture seeks to reduce greenhouse gas (GHG) emissions in the public transportation sector. According to Elaia President Ronaldo Miguel V. Puno, the company will provide the units and onsite and offsite after-sales services.

Providing opportunities

OCAMPO said that CitySavings and Elaia’s partnership also provides opportunities for tricycle drivers to increase their income to an average of P1,000 daily, as the e-trikes have a larger passenger capacity and cheaper alternative source of power through fastcharging stations.

The executive added the thrift bank seeks to show other local government units that by investing in the e-trike project, they will

also help in promoting a safe, affordable and sustainable transport system for their communities.

Puno said he believes the partnership with CitySavings would “open the door to so many new opportunities of giving people better livelihoods, better lives.”

“We’re looking at a future that is sustainable; not just because we are able to reduce the pollution and carbon emissions produced by current tricycles or vehicles, but also because economically, these tricycle drivers are able to earn a more decent living and give their families more than what they need on the daily,” he added.

San Antonio Barangay Captain Eugenio S. Ynion said village officials “are looking forward to its [the project] success here and we are also excited to see how it will grow and change public transportation in the future for the better.”

GSIS to help members, pensioners hit by Noru

STATE

pension fund Government Service Insurance System (GSIS) President and General Manager Jose Arnulfo A. Veloso said the GSIS is prepared to open its emergency loan program for members and pensioners in Luzon affected by Supertyphoon Karding (international name: Noru).

In a statement, Veloso said the state-run pension fund for public-sector employees has allocated P4 billion for an emergency-loan

budget this year. “We will ensure that the loan assistance will be available to all qualified active members and old-age and disability pensioners based in the affected areas,” he was quoted in the statement as saying.

According to the statement, GSIS members with an existing emergency loan balance may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000. Those without existing emergency loan may

apply for P20,000. Pensioners may likewise apply for a P20,000 loan. The loan has a 6-percent interest and is payable in two years.

Qualified to apply are members who are in active service and not on leave of absence without pay; have at least three months of paid premiums within the last six months; have no pending administrative or criminal case; and have a net take-home pay of not lower than P5,000 after all required monthly obligations are deducted.

FInex Free enterPrISe

George S. Chua

Bank of the Philippine Islands (BPI) Lead Economist Emilio S. neri Jr. said he sees the possibility that monetary authorities would again tweak rate hikes in view of the hawkishness of the US Federal Reserve. Photo courtesy oF Bank oF the PhiliPP ne islands

Handling feedback like a pro

Mattress matters

AF TER a hard day at work, getting a good night’s sleep is literally everyone’s dream. That’s why Mattress Matters in Our Home. As we continuously provide bedroom-style inspirations comes another goal of giving quality sleep above all. It’s time to make a serious investment in our sleep, from the way we relax to the quality of our mattress and give ourselves the luxury we deserve.

IUSED to be part of an organization where feedback was expected and comments on my work was essential to ensuring the team delivered as expected. When I moved into a more conservative organization, I noticed that people gave feedback as if walking on eggshells and worded it in such a way as to make it sound like an afterthought rather than a well-considered point for improvement. The recipient, on the other hand, wilted in embarrassment as if they had never done anything right. I realized that just as much as people need to know how to provide feedback, they also need to know how to handle feedback to take full advantage of it.

Feedback is an integral part of an organization that seeks to engage the collective minds of its workforce, and to tap into innovative ideas and solutions for problems and issues within the organization. On a team level, feedback is important for members to be aligned with their managers in terms of timeliness and quality of work output. If your team is to benefit from giving feedback, it needs to start with you as their leader. You need to set an example on how to receive feedback.

The first thing you need to do is to welcome feedback from people. People will not give feedback unless they know you are willing to listen to them.

Being open to feedback means understanding what people have to say without taking it against them. You show this by what you do after receiving the feedback. Once people see how you handle feedback, they are more likely to give it to you freely. Of course, there are people who mean ill and would say anything to throw you off your game or are just insecure with you, so you still need to filter what they are saying and get whatever you can to improve yourself and your work.

Being open to feedback also means to stop being defensive. The most common source of feedback is your direct manager. They are there to guide you and ensure whatever comes out from their team reflects the quality of work that is acceptable to them. Their team’s output is a reflection of their leadership. So, stop taking it personally and focus on how to improve so you can do better next time, especially if you are leading a team. Your manager is there to help ensure your team delivers to clients as expected. More often, no feedback means you are doing well. But when they sit down with you and give feedback on how you manage your team, that means you still need to work on your people management skills. And if you intend to be a better leader, you will listen and look for better ways of managing your team rather than taking it against them.

Just as much as you need to stop being defensive, you also have to stop apologizing. There are times when a leader provides feedback, the recipient would apologize profusely even if the leader has not even finished. The best apology is the one where you listened and developed an action plan to improve. Apologize if you must but do it after the person has finished giving their feedback.

questions, you are showing that you are intent on improving, and that you will do better the next time. Actively listen and ask follow-up questions especially if you think they have misinterpreted your actions.

Receiving feedback also entails that the one giving feedback also understands where you are coming from so both of you are aligned in terms of what to do moving forward.

If possible, take down notes so you can document the feedback. Do this so you can develop action plans to address the feedback, and for you to create a holistic plan to address recurring feedback. This is especially helpful when the feedback is about your behavior and how you deal with other people. By documenting these instances, you can objectively evaluate yourself and formulate steps to effectively address the issues raised. You can even consult your mentor, or trusted friends, on what you can do to improve how you deal with colleagues and clients.

Once you develop an action plan, set a time to follow up on the results. This closes the feedback loop and lets the one who gave the feedback know that you have already addressed their concerns. Again, this lets people know that you are open to feedback because you are intent on improving yourself and

the same meeting where the feedback was given. Just make sure you let them know how their feedback has helped you improve.

There are cases when the feedback is harsh and unfair. They say that a broken clock can still be right twice a day, so take whatever you can from their comments and use it to improve yourself. People can sometimes lose control of their emotions and lash out unnecessarily. Take whatever you can from what they are saying to help yourself and then ignore the rest. If the feedback is personally motivated, try to discover where it is coming from so you can address it appropriately. If there are things outside your control, inform your supervisor as soon as you can so they can protect you.

And, lastly, thank people for their feedback. It is not every day that someone takes the time to explain and provide you feedback to improve your work. It shows they care enough for you and your team to help you do your work better. You need to reframe your mindset and look at feedback as insights on improving your work and your output because, if you are intent on growing professionally and personally, you need to take advantage of all the help you can get from others. n

How devices may shape our behavior when bargaining with strangers

By Terri R. Kurtzberg Rutgers University-Newark

PEOPLE appear to be more willing to lie for personal gain when they use a laptop versus a smartphone, our new peer-reviewed research shows. Given that the two devices have nearly identical technical capabilities—they’re both boxes with electronic brains—this surprised us and highlights the psychological impact of technology.

Our first in a planned series of studies was a version of what economists call the ultimatum game.

In the take-it-or-leave-it exercise, one player is told they’ll receive a certain sum of money, some of which they must split with a partner.

But they can tell their partner whatever they choose about the total sum and how much of it they’re willing to offer—allowing them to lie and keep more of the kitty for themselves. However, the partner must agree to the offered sum for either of them to get any money.

In our version, we told 137 graduate students to imagine they’d share $125 with a fellow student, if their randomly assigned partner agreed to the deal. Half of them used a laptop; the rest participated with their smartphone.

While the vast majority of participants fibbed at least a little, laptop users were much more likely to

lie—and by a lot more. Eighty-two percent of laptop participants were deceptive, compared with 62 percent of phone users, and on average claimed the pot was $20 less.

Although this was hypothetical and didn’t involve real money, previous research by us and other scholars shows that these scenarios are good at predicting actual behavior.

To see if our finding held up in a more real-world scenario, we devised a negotiation experiment in which two people were told to barter over the purchase price of an imaginary semiconductor factory one of them owned. We split 222 students into buyers and sellers. Buyers were confidentially told that the market value of the property was estimated at $21 million.

We then asked buyers to tell sellers what they thought was the fair market value of the property and make an initial offer. Like in the first experiment, about half of the students used their phones and the others negotiated on laptops.

Again, laptop users were more deceptive. On average, they told sellers the fair value was $16.7 million—lowballing it by over $4 million—compared with $18.1 million for phone participants. In both cases, their actual offers were only slightly higher than what they said was the market value.

To find out what’s going on, we asked participants

of a separate study about their associations with each device and found a consistent pattern. Phones triggered associations of friends and family, and laptops led to thoughts of work, success and accomplishments—which previous research has shown can trigger unethical behavior.

People’s use of technology in decision-making can subtly yet fundamentally shift the way our brains work.

In past work, we found that people lie more frequently, cooperate less and evaluate others more negatively when they conduct tasks virtually as opposed to in person, with physical tools like pens and paper.

While studies like ours can’t perfectly predict how behavior will play out in real life, these experiments do offer more evidence of the subtle ways technology can alter human behavior.

We don’t know whether our findings would hold for other tasks and within the context of existing relationships. Even within our experiments, other factors may be affecting people’s choice to lie, such as different screen sizes or locations.

Our research shows the continued need to assess how technological tools are used in real settings, including the unconscious changes these devices might have on daily decisions and ethical standards.

CONVERSATION

Choose the right mattress that suits you and your family, whether you have posture or movement disturbance concerns, or you’re a back or a slide sleeper, or simply wants to have a relaxed luxurious sleep.

Our Home has it all from all the trusted brands in the Philippines showcased in the recent Mattress Matters Exhibit at the Main Atrium of the SM Mall of Asia.

n Uratex has been the country’s pioneering brand in innovative sleeping solutions and products for more than half a century.

n Salem prides itself with more than 50 years of experience in manufacturing the best spring mattresses in the country. With this, it promises to help you get better sleep and relaxation through its products.

n Slumberland, which was founded in England in 1919 by John Seccombe, has since evolved as the leader in sleeping comfort. Renowned for its quality range of products, it is distributed by Home Gallery in the Philippines.

n Dunlopillo is more than just about sleeping products. With more than 90 years of latex innovation, it delivers ultimate comfort, great quality, and unbeatable customer service.

n Ambassador Bed’s orthopedic mattresses are chosen and trusted by most five-star hotels and Filipino households since 1927.

n King Koil, which was founded in 1898, got its start selling traditional innerspring mattresses. Today their mattress line-up includes foam, latex, hybrid, and even smart mattresses.

Supermalls.

HAIRLOK, an environmentallyfriendly material, gives the Slumberland TempSmart II superb air circulation, helps regulate body temperature, dissipates moisture, and helps improve sleeping comfort.

SINGAPORE DIAGNOSTICS RECEIVES PRESTIGIOUS COLLEGE OF AMERICAN PATHOLOGISTS ACCREDITATION

ONE of the largest laboratories in the Philippines, Singapore Diagnostics (SGD) has been re-accredited by the prestigious College of American Pathologists. Less than 500 international laboratories have received this accreditation.

“We are honored to receive the College of American Pathologists accreditation as a testament to the high quality of Singapore Diagnostics’ services and the work of our well-trained clinicians. This recognition will definitely inspire us to continue to offer world-class health-care services that Filipinos can afford,” said Ritche Evidente, Singapore Diagnostics president and CEO.

Since its establishment in late 2013 in the Philippines, SGD has been processing laboratory requirements for over 500 hospitals, clinic, labs and health-care institutions in the country. It serves up to 50,000 patients every month and runs up to 2.5 million laboratory examinations a year. The company is a subsidiary of Pathology Asia, which is among Southeast Asia’s large medical diagnostic groups with pathology, genomic and digital health operations in Australia, Singapore, Malaysia, Indonesia, and Vietnam.

Singapore Diagnostics implements the highest quality control in their laboratory work, benchmarking all test results, not just versus local quality standards, but against those of the best hospitals in the world. SGD offers a host of services, including serving as a referral or back-up for other labs and hospitals or providing full laboratory outsourcing, including improving personnel skills.

The brand will be building additional facilities nationwide for a total of 50 laboratories in the Philippines, and now has 450 employees all over the country. More information is available at www.sgdlabs.ph.

URATEX Premium Touch Viscoluxe Memory Mattress gives comfort with an exquisite note of softness and deluxe.

PHOTO BY CHARLESDELUVIO ON UNSPLASH

A POCKETED spring no-turn mattress, Salem Manhattan Mattress is designed to promote a comfortable night’s rest.

Dinapigue Mining connects with the Agta tribe through medical care

FOR the first time since the pandemic has restricted all mass gatherings in the communities, the Agta tribe came out in full force for a Dental-Medical Mission.

Dinapigue Mining Corporation (DMC), a subsidiary of Nickel Asia Corporation, initiated the medical program for the Agtas, the Indigenous People (IPs) of Dinapigue, on last August.

It is the mining company’s way of connecting and bonding with the IPs who are hosts to their mining operations in Dinapigue in the province of Isabela, a first corporate social responsibility (CSR) outing by DMC as soon as the lockdowns due to the pandemic start easing out.

The medical team is composed of volunteer-doctors and healthcare workers from Southern Isabela Medical Center (SIMC) headed by Dr. Nezer Soriano and the volunteer dental team from Unciano College of Dentistry headed by Dr. Yoya C. Tarriela, former president of the Philippine Dental Hygienists’ Association. The volunteer team offered free medical services as part of their personal social responsibility agenda.

“Our dental team has been doing this for almost six years now and what makes this mission interesting, other than giving back and paying forward, is that this is our first time tying-up with a mining company. The IPs are so appreciative of the services we provide and that gives us a feeling of fulfillment,” says Dr. Tarriela.

The Agta communities, who are known to be wary of medical procedures, welcomed the visitors with open-

arms and came out in groups for dental procedures, especially the children, as well as for general medical check-ups.

The DMC medical mission provided the much-needed healthcare to the IPs and other residents of Dinapigue who often find it a challenge to avail of regular medical care due to the remoteness of the area.

Malaking bagay po ito, kasi para sa aming nasa malayo, itong mga ganitong pagkakataon, madalang po nangyayari. Kaya malaking pribilehiyo sa mga Dinapigueno ang ganitong mga event,” said Benedicto Candido, Punong Barangay of Dibulo, one of the 6 barangays of Dinapigue.

Edicia Vetriolo, a member of the tribe from barangay Digumased, says she and her

husband and children appreciated medical missions like this because the IPs need this whether they admit it or not.

The Agtas are the primary beneficiaries of the mission but the services extended to the non-IP residents who also availed of health assessment through medical consultations and dental care. A total of 247 patients receive the benefits from the daylong medical mission.

The medical team had five volunteers from SIMC and five volunteers from Unciano College of Dentistry plus the volunteers from the LGU headed by Dr. Reygene Caratiquit and the DMC team headed by the company dentist, Dr. Melvin Dionisio.

MBC, partners start project to show, counter how gender norms affect women’s careers

THE Makati Business Club (MBC) and partner organizations launched a project to help companies operationalize gender inclusivity in the workplace. The Research and Education on Influencing Gender Norms (REIGN) project will produce a report that will show how gender norms and stereotypes factor in the careers of women managers and executives in the Philippines. The report, which will be based on interviews and surveys, will be shared with the public.

The Memorandum of Agreement (MOA) was signed by Edgar O. Chua, MBC Chairperson and Champions of Change Coalition Philippines (CCC PH) Co-Convenor; Aileen Judan Jiao, MBC Women-in-C-suite Committee Chair; Kathy Mulville, Investing in Women (IW) Business Partnerships Director; Ma Aurora “Boots” Geotina-Garcia, Philippine Women’s Economic Network (PhilWEN) Founding Chair and President, Philippine Business Coalition for Women Empowerment (PBCWE) Co-Chairperson and CCC PH Co-Convenor; and Julia Abad, PBCWE Executive Director. The signing was held at Spaces World Plaza, Bonifacio Global City,

Taguig City, Metro Manila.

“We [at MBC] want to encourage women to rise up to senior leadership positions, basically C-suite positions, but it is a very big task. MBC members have a lot to share on gender diversity and inclusivity – some are just starting while others are way ahead. When we come together, I am sure we can make a big difference programmatically,” said Aileen Judan-Jiao, also President and Country General Manager of IBM Philippines.

The project will also offer brownbag sessions that build on the Learnand-Share sessions that the MBC Women-in-C-Suite Committee has already conducted with MBC member companies. In addition, these sessions will cover the findings from the research study and a chosen Diversity, Equality & Inclusion (DE&I) topic of the hosting company. It also serves as a safe space for employees to share their personal experiences of gender inclusivity in the workplace.

“Many of the barriers that exist are related to social norms and stereotypes. Policies are the foundation but they

are not the only issue. It is important that we have the policies and practices but we really need to understand these fundamental stereotypes and norms that are inhibiting the progress that we have to make,” said IW Business Partnerships Director Kathy Mulville.

“Our strategy will remain focused on engaging men and women of power and influence to advance gender equality as CEO-led action and advocacy will accelerate the pace of change. Through this new partnership we are launching today, we hope to see positive shifts and a way towards a more equal future, regardless of gender,” said PhilWEN Founding Chair and President, PBCWE Co-Chair, and CCC Philippines CoConvenor Boots Garcia.

The REIGN Project is the second research partnership project between MBC and PBCWE. The first of which is the Women in the Philippine C-Suite Study launched in 2019. MBC and PBCWE also work closely together on the Champions of Change Coalition Philippines, which has heads from the two organizations as co-convenors.

The delicious colors of L’or Noir at Sheraton Manila Bay

SHERATON

Manila Bay paints the town black and gold as its newest concept outlet &More by Sheraton showcases the delicious flavors of kurobuta, ciders, and calvados with a one-night-only event titled “L’or Noir” on September 29, 2022, starting at 7 PM onwards.

L’or Noir is a French word that translates to Black Gold. The event pays homage to the complimentary colors Black (Noir) and Gold (Or) inspired by the color of Kurobuta Pork known as “black hog” and the golden sparkles of Ciders and Calvados which are extracted from apples.

For only Php 1,100++ per person, diners will enjoy five (5) beverages selection including our very own cocktail concoction Cider Fizz and Normandy Spritz and a gourmet platter of six (6) Kurobuta cuisine meticulously prepared by our culinary team.

The event will feature premium Kurobuta pork from Esguerra Kurobuta Farm transformed into savory epicurean platter of Calvado Braised Pork Tortellini, Wellington made of Pork Loin, Mushroom Duxelle, Puff Pastry, and Calva Jus, Cider Barbeque Ribs,

Kurobuta Terrine, CubanStyle Slow Roasted Pork, and Grilled Flank Brochette.

To complement the delicate flavors of kurobuta, our pastry chef prepared a decadent line-up of desserts infused with ciders and calvados including Apple Calvados Verrine, Cognac Chocolate Cremeux, Apple Cider Brandy Crème Brule

Kurobuta is a type of pork that comes from Berkshire, England often referred to as “the wagyu of pork”. The name “Kurobuta is a Japanese word which means “black pig/hog” which alludes to the distinctive colors of the pigs. Kurobuta are heritage breed that are highly prized due to its flavor, marbling, and tenderness.

L’or Noir is part of &More #DiscoveryMoments, a series of curated dining event that allows epicurean diners to explore various flavors and tastes from premium partner brands transformed into culinary experiences by our seasoned culinary team.

The event also celebrates the 75 years of French-Filipino diplomatic relations and will be showcase wines originating from the Loire Valley Region and calvados from Normandy.

SM Foundation, Uniqlo refurbish 3 barangay health centers in calamity prone Bicol region

THE partnership between SM Foundation (SMFI) and UNIQLO with its parent company Fast Retailing Co., in the promotion of health and wellness was strengthened as three more community health centers were inaugurated and turned over recently in the Bicol region.

The partners upgraded community health centers in Camarines Sur and Camarines Norte; the Angas Barangay Health Center in Basud, Camarines Norte, Cararayan Barangay Health Center in Naga City, Camarines Sur and the San Isidro Health Center in Baao, Camarines Sur. These Centers were likewise equipped with the necessary health apparatus, furniture, appliances, and vitamins and medicines.

Improved in the centers were the Patients’ Waiting lounge, Reception area, Consultation Room, Pre-natal and Treatment Room, Meeting Room with Pantry, Mobile Play Cabinet for Children, Under -5 Clinic, Breastfeeding Room, and Medicine Storage Cabinets.

The region’s geographical location makes it prone to natural calamities. To ensure the barangay health centers are ready for disasters and emergency, SMFI and Uniqlo provided

the centers with Emergency Go Kit+.

The kits consisted of alcohol, bandages scissors, BP monitors with stethoscope, burn ointment, cervical collar, cotton, disposable Ambu, elastic bandages, eyepad, flashlight, folding knife, gauze bandages, gauze pad, gloves vinyl, hot water bag, hydrogen peroxide, ice bag, Kelly forceps, lighter, N95 masks, micropore tape, oxygen tank with regulator, penlight, plastic Strips, pocket mask, Povidene Iodine, pulse oximeter, raincoat, rope, shear scissors, skin swab, sterile gloves, thermal blanket, thermal gun thermometer, thumb forceps, and triangular bandage.

SMFI executive director for medical programs Connie Angeles said, “Health facilities play a very significant role in the mitigation of disasters because of their function in treating the injured and handling outbreaks of disease. These trying times, we believe that health centers are vital for community surveillance and response.”

“We need health centers in the countryside that are equipped to treat people with minor injuries, which is extremely useful to reduce congestion and referral to hospitals or other more sophisticated medical facilities,” she added.

Webinar on best practices guide to public, private partnerships and Build-Operate-Transfer law Oct. 14

ON July 25, Pres. Ferdinand Marcos, Jr. highlighted in his SONA the importance of PublicPrivate Partnerships (PPPs) at a national, local government, and GOCC level. He also emphasized the expansion of infrastructure development programs of previous administrations which will cover roads, bridges, water supply, agriculture, rails, airports, seaports, nuclear and renewable energy, health center, and specialty hospitals outside Metro Manila, may be undertaken by the government with the private sectors through PPPs, BOT law modalities, and Joint Ventures.

To foster economic growth and winning collaborations between private and public sector, the Center for Global Best Practices will be hosting a special webinar entitled Best Practices Guide to PPPs, BOT Law Modalities and Joint Ventures to be held on Friday, October 14, 2022 from 1:30 to 4:45PM via ZOOM. [For other governmentrelated topics including How to Prepare Unsolicited Proposals, Best Practices and Remedies to Avoid COA Disallowances, Guide to BAICS, How to Stay Out of Trouble

While Serving in the Government, CorpGov for GOCCs and others, visit www.cgbp.org.

You may also call Manila lines (+63 2) 85568968 / 69 or (+63 2) 8842-7148 / 59]

This three-hour webinar is a one-stop shop to learn all the different types of PPPs, the BOT Law modalities – including the Revised IRR that will take effect in October, and joint ventures. If you are in government, be ready to implement the programs of the president. If you are in the private sector, be ready to capture these opportunities.

CGBP will feature Atty. Alberto C. Agra who is known as the father of Philippine PPPs. He is a a Certified PPP SpecialistTM and Certified Regulation SpecialistTM, a PPP law professor and an active lecturer on PPPs. Since 2014, he has conducted more than 350 lectures on PPPs. He has developed 32 PPP frameworks including a template PPP ordinance, which to date, has been referred to by 116 provinces, cities, and municipalities. He is the incumbent Chairman of the Board of the Philippine Reclamation Authority, the infrastructure development authority focused on reclamation. His prior government positions include Acting Secretary of Justice, Acting Solicitor General and Government Corporate Counsel.

THERE are more than 400 Agta members in Dinapigue

FROM left to right, seated are Aileen Judan-Jiao (MBC Women in C-Suite Committee Chair), Julia Abad (PBCWE Executive Director), Edgar Chua (MBC Chairperson and CCC Philippines Co-Convenor), Kathy Mulville (IW Business Partnerships Director). Standing, are from left, Amica Francisco (PBCWE Program Officer), Reyina Silva-Netto (CCC Philippines Program Associate), RJ Barrete (CCC Philippines Program Director), Ana Bobadilla (PBCWE Partnerships Manager), Kim Patria (IW Deputy Director Gender Norms), Roxanne Lu (MBC Programs and Projects Unit Director). On Screen is Boots Geotina-Garcia (PBCWE Co-Chair and CCC Philippines Co-Convenor)

AvidA LAnd opens showroom, LAunches two new projects

By Rizal Raoul S. Reyes

AvidALand, the mid-market segment subsidiary of property titan Ayala Land inc. is on a roll as it continues to develop houses, corporate offices and mixed-use developments. Boasting a growth portfolio of 100 projects in 25 prime locations, Avida Land will be celebrating its 32nd anniversary this October in a grand fashion by launching two newest and most exciting projects—Centralis Towers on Taft Avenue in Pasay City and Patio Madrigal on Roxas Boulevard, Manila.

To promote a stronger branding, the Avida team led by its Vice President for Sales and Marketing Bing Gumboc recent ly opened their showroom on September 23 in Ayala Malls Manila Bay. She said the opening of the Manila Bay showroom has roused significant expectations and has emerged “as a place where home seekers can have a quick and sweeping glimpse of the curated Avida lifestyle in its intimate yet inspiring form.”

Furthermore, Gumboc stressed the lo cation of the showroom inside the Ayala Malls will enable more interested home buyers and investors to increase their awareness on Avida projects and be as sisted by their property specialists.

An interesting feature of the show room is the design introduction of a nice concept called “Japandi” by the M Con temporary Interior Concept Corp., official interior design partner for the Manila Bay Showroom. The “Japandi” design com bines Scandinavian functionality with Japanese minimalism. Gumboc stressed

this epitomizes the latest thrust of Avida Land latest projects Centralis Towers on Taft Avenue in Pasay City and Patio Mad rigal on Roxas Boulevard, Manila.

Centralis Towers

AVIDA L and is enhancing its presence in Taft Avenue by developing Centralis Towers, a 3,380 sq m, one-tower highrise development featuring five podium levels and 27 residential floors with 1,111 units. It is primed to be a mod ern urban living hub for discerning but value-conscious professionals, aspira tional young families, empty nesters, and savvy investors.

Regie Alabe, Avida Land’s Business Area h e ad said investors in Centralis Towers’ will benefit from the strategic location on the Pasay City section of Taft Avenue as it has close proximity to the three dynamic cities of Pasay, Makati, and Manila, placing lifestyle necessi ties within easy access. Just 500 meters away from Gil Puyat Avenue, Alabe added

Centralis Towers’ strategic location from Gil Puyat Avenue makes it the place to be for those seeking an affordable residence near a CBD or investors looking to lease out their units to professionals in nearby workplaces.

“Considering its thoughtfully designed units [Studio, Jr., one Bedroom, and two Bedroom Unit Types] and sensible ameni ties, Centralis Towers offers its residents a place where they can focus on what’s essential and a location that inspires a live-work-play lifestyle,” Regie Alabe, Avida Land’s Business Area h e ad of Metro South, said in a briefing.

Patio Madrigal

I F you are looking for a laid-back life style near the Bay area, the two-tower mid-rise development Patio Madrigal is the place for you. Built from a joint part nership with the Madrigal family, Patio Madrigal rises from a 6,222.50 sq m land

Federal Land tops off second tower of The Seasons Residences in BGC

Fe De R AL L and, Inc., along with its Japanese partners Nomura Real e s tate Development Co., Ltd. and Isetan Mitsukoshi h o ldings Ltd., cele brates another milestone with the topping off ceremony of The Seasons Residences Natsu Tower. The event marks the struc tural completion of the second tower of the development—a testament to Federal Land’s commitment to developing wellbuilt structures and bringing in a piece of Japan in BGC.

The Seasons Residences is a Japaneseinspired mixed-use development that marries Japanese tradition of innova tion and excellence with Filipino sense of community. It will feature four towers of high-end homes, curated amenities, and the first MITSUKOS h I i n the country, located at the podium level. The Seasons Residences is part of Grand Central Park, Federal Land’s master-planned commu nity in Bonifacio Global City.

In photo are Federal Land, Inc. execu tives and partners (from left): ee I P resi dent and C e O M r. Robert Castillo; Isetan Mitsukoshi h ol dings Ltd. Manager for

Antonino Aligaen; Nomura Real e s tate Development General Manager for Over seas Business Mr. Masaya h i rao; Federal Land Senior Project Director Ms. Sophia Nunez; and SPCI Director and Senior Vice President Mr. Roger G. Antonio.

and consists of four podium levels and 14 residential floors, with 595 units in Tower 1 alone. Patio Madrigal is also the first Ayala and Avida project in the Roxas Boulevard area.

Alabe said Patio Madrigal will have three-level retail spaces for commercial and office use will complement select amenities in redefining residents’ life styles, needs, and preferences. The plan gives Patio Madrigal premium leverage as it offers the much-sought-after Ayala Land lifestyle in a traditionally coveted address.

Patio Madrigal will feature well-de signed Studio, Jr. and one Bedroom units, just the right accommodations for busi ness owners, young professionals, wise investors, OFW returnees, and retirees. Most of the units in the development come with their own balcony, providing an “extension” of the residents’ living space—one from which they can view the

famed Manila Bay sunset or the bustling metropolis’ skyline.

Just like the other ALI brands, Al abe said value appreciation of these two projects has surged. Centralis Towers is 22 percent sold while 29 percent of Pa tio Madrigal has been sold and reserved.

To date, investment in Centralis Towers starts at P5.9 million while investment in Patio Madrigal starts at P7.9 million.

As Avida continues to inspire Filipino home seekers in fulfilling their aspira tions for home ownership, Ayala Malls Manila Bay Showroom is ready to help make this happen.

Avida Land Corp. is the mid-income market residential brand of Ayala Land, the Philippines’s leading developer of sustainable estates offering a diverse mix of properties such as residential, retail, office, hotels, and leisure developments that support local economic growth and nation-building.

The stage is set for robust prop erty appreciation in North Calo ocan, Novaliches, all the way to San Jose del Monte in Bulacan with the completion of MRT 7 by year-end, according to Leechiu Property Consul tants (LPC) executives.

According to Alvin Magat, director for Investment Sales, “The 24.7-kilo meter rail and road project that starts from North Avenue in Quezon City will unlock the potential of tracts of land along the route as they become eas ily more accessible to Metro Manila’s business districts and other places of work.” MRT 7 is a project of San Miguel Corporation and will connect to LRT 1 and MRT 3.

It now takes up to three hours to commute from these areas to Makati, explains Magat. “If you take MRT 7, then connect to MRT 3 to Makati or LRT 1 to Manila from the North, trav el time to business districts along the route will be cut to less than an hour. This development will entice middle

managers and employees and their families to give up Metro Manila’s more crowded and expensive residen tial units for attractive and more spa cious, master-planned neighborhoods in the North.”

In anticipation of the completion of this ambitious rail project, major developers including Ayala Land, the Araneta Group, SMDC and Vista Land have already acquired properties along the MRT 7 route and its 14 sta tions. They foresee that just as infra structure like South Luzon e x press way, the Skyway and their extension projects primed affordable housing projects in Cavite and Laguna, MRT 7 will do the same for northern Mega Manila.

As usual, those who will be reward ed are those who make their purchas es way before the rest, according to Magat. “No matter what the economic situation, properties in strategic loca tions will always remain great invest ments.

Overseas Business Department Mr. Mit sunori Morohoshi; Federal Land h e ad of Sales Ms. Margarita Saenz-Resurreccion; Federal Land h e ad of Urban Planning and Design Arch. Gilbert Berba; Federal Land h e ad of Technical e x ecution e n gr.

THE Patio Madrigal model unit offers discerning property seekers a glimpse of the development’s thoughtfully-designed units.

BING GUMBOC, Vice President of Sales and Marketing at Avida, delivered the opening remarks at the event.

THIS furnished model unit highlights the comfortable, dynamic lifestyle, and can-do living at Centralis Towers.

Natl inter-school taekwondo meet up this weekend

THE Philippine Taekwondo Association (PTA) announced Tuesday the staging of the 2022 Smart/MVP Sports Foundation National InterSchool Taekwondo Championships on October 1 and 2 at the  Ayala Malls Manila Bay in Pasay City.

Competitions will be in Novice and Advance with five divisions— Seniors, Juniors, Cadet, Grade School and Toddler—to be played separately for male and female competitors.

The event also includes poomsae which is open for colored and blackbelt students in individual, pair and team events.

A bout 2,000 students from schools affiliated with the PTA all over the country have confirmed their participation in the biggest school-based tournament supported by the Philippine Sports Commission, Philippine Olympics Committee and Milo.

A mong the schools and universities taking part in the event are Ateneo de Manila University, University of Santo Tomas, St. Paul Pasig, Diliman Preparatory School, Emilio Aguinaldo College, De La Salle University, University of the East, National University and University of the Philippines-Diliman.

Competitions will start at 9 a.m.

CHITO’S FEAR: WINLESS DYIP

By Josef Ramos

MAGNOLIA

squares off with Terrafirma—a team that hasn’t won in 17 games bridging two seasons—at the resumption of the Philippine Basketball Association Commissioner’s Cup Wednesday at the Mall of Asia Arena in Pasay City.

ould it be a breeze for the Hotshots who’re playing their first game in the reinforced conference? Don’t tell that to their coach Chito Victolero.

They [Dyip] haven’t won since the last conference so we’re expecting them to come out really aggressive,” Victolero told BusinessMirror on Tuesday.

Victolero has the materials and the reputation—his and the team’s—to cruise past Terrafirma. But they don’t want to get caught napping by the Dyip.

We’re hoping that we’re not going to be that team—that team that will give them their first victory,”

Victolero stressed.

Talk about lady luck and a bad hair day and the Hotshots just would be wanting to be in their elements for a hot start in the Commissioner’s Cup.

Our team so far is intact with the same local players plus a SerbianAmerican import,” he said.

The match is set at 3 p.m. after which Barangay Ginebra San Miguel—with resident import Justin Brownlee—opens its own campaign at 5:45 p.m. against Rain or Shine.

A must-see for coach Tim Cone and the Gin Kings Jamie Malonzo, their athletic new recruit from NorthPort, who’ll be paraded alongside Christian Standhardinger, Scottie Thompson, Japeth Aguilar and Stanley Pringle.

Rain or Shine and returning coach Yeng Guiao are hoping to bounce back from a frustrating 90-96 defeat to Guiao’s former team, NLEX, last Wednesday.

I mport Steve Taylor, showing great ball handling and athleticism, finished with 21 points, 12 rebounds

ABAP on Hangzhou as Paris 2024 qualifier: Two birds with one stone

THE Association of Boxing Alliances in the Philippines (ABAP) welcomes the challenge of doing good in the Asian Games and qualify as many boxers as possible to the 2024 Paris Olympics at the same time.

A BAP Executive Director Marcus Jarwin Manalo believes Filipino boxers will have added motivation competing in next year’s 19th Asian Games in Hangzhou, China, following the decision of the International Olympic Committee (IOC) to make the quadrennial Games one of the qualifying events for Paris.

At the end of the day, you really prepare for these tournaments, and you’re really aiming to qualifty through tournaments,” Manalo told Tuesday’s online Philippine Sportswriters Association Forum.

“Obviously, we’re going to prepare for the Asian Games, so now it’s like hitting two birds with one stone— you perform well in the Asian Games, and get the chance to also qualify for the Olympics,” he said. “So I think it’s going to be better for us,”

The IOC recently simplified the boxing qualification for Paris by

UAAP-eCommerce pioneer ink partnership for Season 85

ECOMMERCE pioneer Lazada partnered with Cignal TV’s University Athletic Association of the Philippines’s (UAAP) Season 85 that will air on One Sports and the UAAP Varsity Channel beginning October 1.

T his season, collegiate superstars will be featured in a special “A Day in The Life Of” video series where they will share with fans their daily routines and activities as top-notch athletes via Lazada’s in-app livestream channel LazLive.

Th is marks the first time that a collegiate league is partnering with an eCommerce platform.

The UAAP is an event that students, alumni and fans continue to look forward to year after year,” Cignal TV’s Eric Centeno said. “And for Season 85, the UAAP Varsity Channel and One Sports are pleased to present ‘Rise as One’ with our broadcast partner, Lazada, to further uplift the UAAP experience and drive more connections amongst our community.”

Whether it’s through providing a wide assortment that adds value to their everyday lives, or through the convenience of a trusted service, Lazada has always focused on uplifting the overall customer experience,” Lazada Philippines CEO Carlos Barrera said.

“As eCommerce continues to be tightly integrated in our community’s lives, we’re delighted to be leveraging our platform’s reach to bring this exciting event that fosters the spirit of sportsmanship among our Filipino youth to sports fans all over the country,” Barrera added.

The UAAP Season 85, themed “Rise as One,” starts on October 1 with Adamson University as season host.

declaring continental multi-sport events as Olympic qualifiers such as the Asian Games, European Games, Pan-American Games, Pacific Games and similar tournaments in Africa.

Two more world qualifiers will be held in 2024 to be supervised as well by the IOC as the International Boxing Association remains suspended by the Olympic body because of leadership and credibility issues.

As of now, there’re no specific guidelines as to how many slots are going to be available in the Asian Games,” Manalo said. “It’s really a big challenge, but we’re up on it. We’re just going to focus on what we can control. And obviously, we need to take care of our preparations.”

The Asian Games are set September 23 to October 8 next year.

Head coach Don Abnett, who also graced the session presented by San Miguel Corp., Milo, Philippine Sports Commission, Philippine Olympic Committee, Amelie Hotel Manila and Philippine Amusement and Gaming Corp., is planning to have the national boxing team exposed in various overseas competitions, and possibly a training camp in China.

and four rebounds but came out short against the Road Warriors.

V ictolero has his confidence on 6-foot-10 Nikola Rakocevic, who he described as “a good defensive player with a lot of experience in various overseas leagues.”

He’s adecent shooter beyond the three-point zone besides being a post player,” Victolero said. “He’s been practicing with us for three weeks so chemistry won’t be a problem.”

“ The only problem is Terrafirma’s hunger for its first victory,” he stressed.

The Dyip have lost 17 straight game since the Governors’ Cup last season. They took a 110-124 beating from Converge last week, despite import Lester Prosper’s 43 points and

PNVF president Suzara appointed head of FIVB empowerment body

THE International Volleyball Federation (FIVB) reaffirmed the appointment of Ramon “Tats” Suzara as Secretary of the FIVB Volleyball Empowerment Commission during the FIVB 38th World Congress held over the weekend in Arnhem, The Netherlands.

I n the same event, the FIVB also named Suzara, president of the Philippine National Volleyball Federation (PNVF), as scrutineer for the 2022 World Congress.

The FIVB Volleyball Empowerment Commission is tasked to strengthen and empower national team programs around the world,” said Suzara, who was joined in the

national teams. He is joined in the commission by representatives from Canada, Kenya, Afghanistan, Ukraine and Maldives.

Suzara said the commission will draft the best guidelines on how to improve national team programs. This includes assignment of foreign coaches, friendly matches and exposures.

They’re all aimed to enhance competition levels,” said Suzara, adding that a naturalization policy is also tops on the commission’s agenda.

We are here together with the five other countries to help the FIVB create policies that will strengthen all the national team programs,” he said. “It’s not only the Philippines but the entire world.”

The congress also tackled the 2023 Volleyball Nations League (VNL) with the Philippines again guaranteed to host one leg. The PNVF hosted a women and men leg last June at the Smart Araneta Coliseum.

Griffins fall short in creating dent on NU’s armor

NATIONAL University (NU)-Sta. Elena repulsed VNS-One Alicia, 25-17, 20-25, 25-21, 27-25, on Tuesday to sweep the Spikers’ Turf Open Conference semifinal round at the Paco Arena in Manila.

PHL-Mongolia rivalry on global 3x3 hoops stage goes on in Cebu

THE Philippines and Mongolia will again cross paths in the Chooks-to-Go Pilipinas FIBA 3x3 World Tour Cebu Masters set this Saturday and Sunday at the SM Seaside City in Cebu.

The Philippines, No. 22 in the FIBA 3x3 world ranking, will field two teams—Cebu Chooks which has a guaranteed spot in the main draw and Manila Chooks which will go through the qualifying draw.

Mongolia, No. 4 in the world and the highest-ranked Asian country, will also be fielding two teams— Sansar (seeded in the main draw) and Ulaanbaatar (playing in the qualifying draw). The Philippines and Mongolia have faced each other 21 times in 3x3 action.

The Mongolians sent two teams to the Philippines last April 30 for the Chooks-to-Go Pilipinas Asia Pacific Super Quest in Sta. Rosa, Laguna.

Z aisan fell to Manila Chooks in the group stage, while Sansar beat

Butuan Chooks but dropped a close one to Cebu Chooks in the group stage. Sansar and Cebu Chooks met again in the finals with the home team winning, 17-15.

A week later, it was the Philippines’s turn to visit Mongolia for the Ulaanbaatar Super Quest.

Cebu Chooks defeated Amgalan but lost to Ulaanbaatar and Zavkhan.

Manila Chooks earned better results with victories over Zaisan and Sansar but lost to Zavkhan and Zaisan in the semifinals.

The Chooks-to-Go Pilipinas FIBA 3x3 World Tour Manila Masters last May 28-29 staged at the Ayala Malls Manila Bay saw four Mongolian teams flying over to the Philippines and the two countries went 2-2 against each other.

U laanbaatar started hostilities with a 22-11 win over Manila Chooks. Cebu Chooks exacted some payback on a Mac Tallo game-winner by defeating Zavkhan, 21-19.

W hat will he do with his gloved hands again?

W iggle them as he dances atop the roped ring, clowning insanely before a perplexed audience?

O r fight again with all his might as though there’s no more tomorrow?

Th at’s like saying Juan Ponce Enrile will run for President in 2028.  Now pushing 99, Enrile is more like thoroughly contented with the thought that he’d reach the ripe old age of 100 in 2024.

Now aged 43, Pacquiao, the only eight-time world champion in boxing history, must now simply enjoy a life of ease, his boxing-earned billions assuring him a minimum of five lifetimes.

What? Pacquiao to fight again?

MANNY PACQUIAO will climb the ring again.

Q uestion:  Is the fight for real?  I mean, will Pacquiao go through the regular routine of strict preparation and the killer training regimen that he is known for whenever he is up for a brawl?

I doubt it.

My gut feel is, Pacquiao will just go through the motions and will not treat his coming fight next year the way he did in all his previous fights.

He is a retired old dog.

N ever mind that a big chunk of his savings has been wasted in his failed presidential bid in the May polls.  If his defeat had caused him to lose some five billion bucks, so what?

L earn to live with dents.  Eye-openers they are.

You can’t win votes just by being a world boxing champion.  Voters are just as wise, you know.

A nd so, if Pacquiao’s fighting again in a bid to replenish his cash account, fine.  Some folks just can’t stand seeing their savings slashed—even if it’s their own indiscretion that did it.

Pacquiao revisits the ring first on December 10 when he fights Korean youtuber DK Yoo in a six-round

The Nationals put premium on hitting, net defense, reception and cohesion as they bounced back from a second-set struggle by pouncing on the Griffins’ erratic finish in the extended fourth set to carve the victory and prime themselves up for the best-ofthree title series tipped to be rough and furious beginning Thursday.

Nico Almendras and Mike Buddin fired 26 and 13 points, respectively, to maintain their competitive fire in preparation for their finals foe—either the Cignal HD Spikers or the Navy Sealions who disputed the second championship berth late Tuesday.

The Nationals rallied from two sets down to stun the HD Spikers then swept the Sealions to clinch the first finals seat.

C ignal and Navy, on the other hand, split their first two games in the round robin Final Four to seal a do-or-die match for the other finals slot.

Credit to my players, they did their best, played within the system,” Sta. Elena coach Dante Alinsunurin said. “They played a little bit relaxed the last time out (against Navy) but at least we still got the win.”

exhibition match.  Don’t be surprised if this will turn out to be a Mickey Mouse match, please.

Then in February 2023, Pacquiao will face French superstar Jaber  Zayani.

S et for eight rounds using eight-ounce gloves, the fight, set at the King Fahd Stadium in Riyadh, Saudi Arabia, is unsanctioned and, therefore, deemed merely an exhibition match.

Call it an exhibition, but I told the senator (Pacquiao) to prepare well because I’m going to give him a real fight,” said Zayani, 31, who was Pacquiao’s sparmate when Pacquiao trained for his 12-round world welterweight bout against Keith Thurman in July 2019.

Z ayani has since blossomed into a full-fledged fighter as he is now an unbeaten lightweight in 18 fights with 11 knockouts.

S o what do you think?  Pacquiao is in for a rough outing?

Not sure.  But what is certain is, Pacquiao remains a draw.  Suckers abound in boxing.

THAT’S IT Manny Pacquiao seems serious in his unretirement bid as he watched at ringside when Floyd Mayweather, 45, knocked out Japan’s mixed martial arts fighter Mikuru Asakura in the second round last weekend in Saitama City, Japan. Umm.

COACH Chito Victolero doesn’t want his Hotshots to give the Dyip their first victory.

PHILIPPINE National Volleyball Federation President Ramon “Tats” Suzara addresses the FIVB 38th World Congress in Arnhem, The Netherlands.

CIGNAL TV Vice President for Channel Sales Eric Centeno with Lazada Philippines CEO Carlos Barrera and Media 5 COO Dino Laurena.

MAC TALLO and the Cebu Chooks go up against Mongolia’s Sansar during the Chooks-to-Go FIBA 3x3 Asia Pacific Super Quest 2.