BusinessMirror September 30, 2022

Aug hot money posts $86-M net outflow on US Fed hawkish move

By Cai U. Ordinario @caiordinario

SHORT-TERM

Data from the Central Bank showed that foreign portfolio in vestments (FPI) recorded a net out flow of $86 million in August this year. The country’s FPI has been in the net outflow territory since May 2022.

However, this was lower than the $103 million net outflows recorded in July. In August 2021, FPI recorded net inflows worth $11.51 million.

“I think as long as the US Fed

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Part of the reason for the rise in inflation in many countries, includ ing the Philippines, is the war in

continues its hawkish stance, we may have to expect net outflows to dominate,” Unionbank Chief Econo mist Ruben Carlo O. Asuncion told the BusinessMirror

FPI are known as “hot” or “specu lative” money because they are easily pulled in and out of the local plat forms in the slight change of global and local sentiment.

Hot money numbers for August were due to the $878-million gross

U kraine. Malpass said this should prompt governments to “diversify away from Russia” in terms of energy production.

Malpass said inflation is just one of the overlapping challenges of the world today. Part of this is the dif

outflows and $792-million gross inflows for the month.

The $878 million gross outflows for the month were larger by 12 per cent or $94 million than the $784 million recorded in July 2022. The US received 72.5 percent of total outward remittances.

“We expect outflows to continue as long as the US hikes according to their latest plan...and BSP does not hike proportionately. Combined with our wide current account defi cit since the late 1990s, pressure on the peso will likely continue,” BPI Chief Economist Emilio S. Neri told this newspaper.

In terms of the $792-million registered investments in August 2022, this reflected an increase of 16.3 percent or an increase of $111 million compared to the $681 mil lion in July 2022.

Majority or 76 percent of these investments were in publicly-listed securities, particularly banks; hold ing firms; property; food, beverage and tobacco; and electricity, energy,

ficulty of eradicating poverty, espe cially after the pandemic.

H e said poverty has been on the decline since 1990 but it started to slow by 2015. By 2020, when Co vid-19 forced governments to close t heir economies to prevent the

power and water.

The remaining invest ments went to peso gov ernment securities at 24 percent of the total and other instruments which accounted for less than 1 percent.

“Investments for the month mostly came from the United Kingdom; United States [US]; Hong Kong; Malaysia; and Luxembourg with a com bined share of 82.6 per cent,” BSP said.

However, year-todate transactions be tween January 1 and August 31, 2022 showed foreign investments reg istered with the BSP through Authorized Agent Banks (AABs) yielded net inflows of $539 million. This rep resented a turnaround from the $434-million

spread of the virus, some 70 million people were thrust into poverty.

Many development challenges were also exac erbated by the pandemic.

M alpass said education is one sector that suffered greatly due to lockdowns.

World Bank data, Mal pass said, showed 70 p ercent of children in low- and middle-income countries are unable to read or understand a ba sic text by the age of 10.

That’s a dramatic deterioration due to Co vid-19 related school clo sures,” Malpass said.

L ast year, former So cioeconomic Planning S ecretary Karl Kendrick T. Chua said the pandem

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“This is unprecedented a nd will result in a global reduction of pork supply and consequently, higher prices for a number of years,” it added.

In its July report, the United States Department of Agriculture (USDA) projected that global pork exports this year would decline by 13.42 percent to 10.571 million metric tons (MMT) from 12.209 MMT as exporting coun tries prioritize their do mestic requirement amid l ower output.

USDA data showed that the volume of pork exports of the European Union, the world's top supplier, United States, Canada and Brazil will all fall this year. Pork exports of the European Union are projected to decline by 24 percent to 3.8 MMT from nearly 5 MMT last year, based on USDA data.

Furthermore, Mita said neighboring coun tries are already reducing t heir tariff rates to as low as zero to be able to stock up on pork supply and temper their respective inflation woes.

“Closer to home, our Asian neighbors, and even New Zealand, have re sponded by reducing their t ariff on pork and in some cases also poultry, either by virtue of an FTA or some special measure to

net outflows noted for the same period last year.

Registration of in ward foreign invest ments delegated to AABs by the BSP is optional un der the rules on foreign exchange (FX) transac tions.

It is required only if the investor or its rep resentative will purchase FX from AABs and/or their subsidiary/affiliate foreign exchange corpo rations for repatriation of capital and remittance of earnings that accrue on the registered invest ment.

Without such regis tration, the foreign in vestor can still repatriate capital and remit earn ings on its investment but the FX will have to be sourced outside the banking system.

ic and the lockdowns im posed by the government a re expected to cost the Philippine economy a to tal of P41.4 trillion in the n ext 40 years.

Neda estimated that in 2020, the economy lost P4.3 trillion and is expected to continue to lose another P37 trillion in the next 10 to 40 years. The total losses are P4.5 trillion in consump tion; P21.34 trillion in p rivate investment and returns; and P15.528 tril lion in human capital in vestment and returns. (Full s tory here: https://business mirror.com.ph/2021/09/25/ n eda-pandemic-to-cost-phleconomy-p41-4-trillion-in-to tal-losses-over-next-40-years/)

address inflation,” it said.

Mita cited the follow ing cases: US pork can now e nter South Korea dutyfree; Vietnam reducing its tariff rate on frozen pork from 15 percent to 10 percent; Vietnam’s pork tariff on European pork (currently at 9.4 per cent) and Canadian pork (5.6 percent) continue to reach zero under an exist ing FTA; Russian pork en ters Vietnam at zero duty, a mong others.

“No one questions the need to strengthen and develop local agriculture. A certain level of selfsufficiency is necessary to achieve food security. But the sad reality is Phil ippine agriculture has not k ept pace with population growth,” the group said.

“Given time and the necessary government support, our farmers can increase productivity to feed 110 million Filipinos. However, this clearly can not be achieved overnight, a nd our country must rely on imports at least in the short to medium term to augment supply,” it added.

Mita had earlier cau tioned that Filipino meat con sumers must brace for a possible price increase of imported meat products by at least 10 percent in the coming months due to continuous weaken ing of peso and tighten ing global supply. (Related story: https://businessmirror. com.ph/2022/09/22/importedmeat-prices-to-riseon-pesoglobal-supply-woes/)

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The decision stemmed from the peti tion for prohibition filed by offshore-based gaming operators Saint Wealth Ltd., Marco Polo Enterprises Limited, MG Universal Link Limited, OG Global Access Limited, Pride Fortune Limited, VIP Global Solu tions Limited, AG Interpacific Resources Limited, Wanfang Technology Management Ltd., Imperial Choice Limited, Bestbetinnet Limited, Riesling Capital Limited, Golden Dragon Empire Ltd., Oriental Game Lim ited, Most Success International Group Limited, and High Zone Capital Investment Group Limited, assailing the constitution ality of the said provisions of Bayanihan 2 Law and related revenue issuances of re spondents DOF and BIR.

Section 11 (f) and (g) of the Bayanihan 2 Law provides a list of sources of funds to address the Covid-19 pandemic which in clude the amounts derived from the 5-per cent franchise tax on the gross bets from POGOs and income tax, value-added tax and other applicable taxes on income from non-gaming operations earned by POGO operators, agents, service providers and support providers.

The SC stressed that these provisions violate Section 26, Article VI of the Con stitution, which mandates that “every bill passed by the Congress shall embrace only one subject which shall be expressed in the title thereof.”

The SC pointed out that in its previous ruling in Atitiw v. Zamora, it explained that the prohibition against riders “is to prevent hodge-podge or log-rolling legislation, and to ensure that all provisions of a statute have some reasonable relation to the subject matter as expressed in the title thereof.”

The SC noted that respondents—former BIR Commissioner Caesar Dulay and For mer Finance Secretary Carlos Dominguez III—even admitted that Bayanihan 2 Law is not a tax measure.

“While the title of the law contains the phrase ‘providing funds therefor,’ it must be emphasized that all other provisions relating to sources of funding under Sec tion 11, except for Section 11 [f] and [g], are already existing taxes. The Bayanihan 2 Law merely realigns these already exist ing sources of funding and funnels it to be used for Covid-19 relief measures,” the SC noted. It added that before the enactment of the Bayanihan 2 Law, there was no law in effect imposing franchise taxes, income tax and VAT on off-shore POGO licensees.

“Thus, this Court is convinced that Sec tion 11 [f] and [g] of the Bayanihan 2 Law are not germane to the purpose of the law, and therefore, violates the ‘one subject, one title rule’ of the Constitution,” the SC declared.

“The imposition of new taxes, camou flaged as part of a long list of existing taxes, cannot be contemplated as an integral part of a temporary Covid-19 relief measure. Invariably 11 [f] and [g] of the Bayanihan 2 Law are unconstitutional, insofar as it imposes new taxes on POGO licensees,” it added.

Consequently, the SC said BIR Revenue Regulation No. 30-2020, Revenue Memo randum Circular No. 64-2020, Revenue Memorandum Circular No. 102-2017 and Revenue Memorandum Circular 78-2018, in so far as they impose franchise tax, in come tax and other applicable taxes on off-shore based POGOs, are “null and void for being contrary to the Constitution and other relevant laws.”

The petitioners—all holders of offshore gaming licenses from the Philippine Amuse ment and Gaming Corp. (Pagcor)—argued that the assailed provisions of Bayanihan 2 Law and related administrative issuances violate their right to due process and equal protection of the law.

The petitioners pointed out that Baya nihan 2 was envisioned as a temporary re lief measure apparently enacted to address the Covid-19 pandemic and raise funds for the purpose.

However, the petitioners said a closer examination would show that Sections 11 [f] and [g] of the Bayanihan 2 Law impose new taxes in the guise of merely listing sources of funding.

The petitioners lamented that for a mere opportunity to operate, their clients would be “forced to pay the tax on their offshore income, even if the imposition is not con stitutional.”

They also stressed that the law unfairly uses as “tax base” the totality of wagers made through POGOs even as these bets are made online outside the Philippines, in violation of the territoriality principle of taxation.

investments made by foreign investors were still in net outflow territory for the fourth consecutive month in August, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.

PHL retains ‘most dangerous’ tag for environment defenders

By Jonathan L. Mayuga @jonlmayuga

THE Philippines remains the worst place for environmen tal activists, the environmen tal advocacy group Kalikasan-Peo ple’s Network for the Environment (Kalikasan-PNE) said in a recent news release.

Citing data collated by the Global Witness and as cited in its annual report, Kalikasan-PNE said though there may have a slight drop in ranking worldwide, the Philippines remains in the Top 5 list worst coun tries in the world.

The report said killings in Latin American countries also soared last year.

This is the 9th time the Phil ippines ranked among the top 10 “most dangerous places in Asia” for environmental activists.

The 2021 report showed a de crease in the total number of lethal attacks against Filipino environmen tal defenders last year or from 30 in 2020 to 18 in 2021.

According to the report, the Phil ippines is one of only three coun tries, next to Brazil and Colombia, where one-half of all the killings in the world were documented. In that

period, Global Witness recorded a total of 270 Filipino environmental defenders killed.

Kalikasan-PNE acting national coordinator Jon Bonifacio said en vironmental defenders in the Phil ippines continue to defy the odds, despite the machinery behind the vested interests behind the pillaging of natural resources.

“Environmental defenders and activists play a crucial role in our fight against climate change,” said Bonifacio. “Now more than ever, we must fight back against the destruc tion of land and life across the world, and this can only be done if we fight

alongside those on the frontlines.”

The group noted that over 80 percent of killings in the Philippines were traced to protests by environ mental defenders against private company operations.

Around 40 percent of the defend ers killed are Indigenous Peoples (IP), and around 87 percent of such kill ings happened in Mindanao.

Meanwhile, the report also said that a third of the lethal attacks against Filipino environmental defenders have been linked to the mining industry, closely followed by the agribusiness sector, the re port showed.

“This situation is bound to contin ue unless specific measures are put in place to protect the rights of our defenders, including mechanisms to ensure perpetrators are held ac countable,” said Bonifacio.

In terms of mineral deposits, the Philippines is one of the world’s top 5 countries, with nearly 30 percent of its lands area known to hold high mineral deposits. Records of the Philippine environment department show that 8 percent of this area is covered by mining concessions as of July 2021, the group noted.

To recall, in April 2021, President Duterte overturned a nine-year na

tionwide moratorium on new min ing projects, which had been in place since 2012. Environmental and hu man rights groups condemned this move, warning that the new order could further endanger defenders and damage key biodiversity areas.

“The previous administration, with its atrocious human rights re cord, was certainly a step back in en suring the safety of our defenders,” noted Bonifacio. “Unfortunately, the Marcos Jr. administration has not made this a priority either. In this light, we environmental activists must continue to prepare and push back,” he said.

SC reschedules NCAP oral arguments from Jan. 24, ’23 to Dec. 6, 2022

By Joel R. San Juan @jrsanjuan1573

THE Supreme Court  (SC) has decided to hold the oral ar guments on the petitions challenging the constitutional ity of the Non-Contact Traffic Apprehension Policy (NCAP) be ing implemented by several local government units (LGU) in Metro Manila a month earlier.

T his decision to reset the oral arguments was reached during the 15-man High Tribunal’s regular en banc session on Tuesday, according to the SC’s Public Information Of fice (PIO).

“ The Court resolved to re

schedule the oral arguments in the case from January 24, 2023 to December 6, 2022 at 2 p.m.,” the Court said.

It also decided to set the case for preliminary conference on No vember 4 and directed the Metro politan Manila Development Au thority be furnished a copy of the petition and to answer it within 10 days from receipt.

It can be recalled that in a reso lution issued last August, the Court issued a temporary restraining order (TRO), which indefinitely enjoined the implementation of NCAP.

T he TRO also covers ordinances issued LGUs and MMDA to imple ment NCAP.

It also barred traffic authorities from making apprehensions under the NCAP programs until further orders from the Court.

T he TRO stemmed from the con solidated petitions filed by several transport groups such as the Ki lusan sa Pagbabago ng Industriya ng Transportasyon Inc. (KAPIT), Pangkalahatang Sangguniang Ma nila and Suburbs Drivers Associa tion Nationwide (Pasang-Masda), Alliance of Transport Operators and Drivers Association of the Philippines (ALTODAP), and Al liance of Concerned Transport Organization (ACTO) and lawyer Juman B. Paa.

P aa’s petition questions the

constitutionality of the NCAP being implemented by the Manila City government after he was forced to pay huge fines and pen alties for four traffic violations (obstruction of the pedestrian lane) before he could register his vehicle.

He pointed out that Manila’s NCAP should be declared unconsti tutional for being violative of the motorists’ constitutional right to due process; for being oppressive and confiscatory; and for violation of privacy rights under Republic Act 10173 or the Data Privacy Act of 2012.

T he petitioner named the Manila City government and its mayor, Hon

ey Lacuna-Pangan, as respondents.

T he transport groups, on the other hand, are questioning the legality of the implementation of NCAP, saying it has no basis either in Republic Act 7924 that serves as the enabling charter of the MMDA and the RA 4136 that created the Land Transportation Office (LTO).

T hey added that the ordinances of the LGUs allowing NCAP are invalid since there is no existing laws passed by Congress that al lows the implementation of such regulation.

T hey noted that RA 4136 al lows only face-to-face apprehen sion of traffic violators and that

traffic violations are liability of the erring drivers and not the registered owners.

T he petitioners are also com plaining against the unreasonable provisions of the NCAP that include non-renewal of the vehicle registra tion until such time that the fines are settled and for including inno cent third persons liable for traffic violations.

T he NCAP utilizes CCTV and digital cameras to identify and ap prehend traffic violators through captured videos and images.

Once a violation is detected, the LGU concerned issues traffic citation tickets and mail these directly to the vehicle’s registered owners.

Economy

BusinessMirror

112K new jobs seen in $3.9-B investment pledges from US

of investments from the said visit.

By Samuel P. Medenilla @sam_medenilla

Blue Ribbon winding up inquiry into laptops–‘Tol’ continued from a16

diyan,” Estrada told DepEd officials.

OVER

112,000 new jobs will be created from the business deals secured by President Ferdinand R. Marcos Jr. during his working trip in the United States (US) last week.

Malacañang said this was the initial projected number of employ ment opportunities to be generated by the estimated $3.9 billion worth

“ These investments will come from different sectors such as In formation Technology and Business Process Management [IT-BPM], data centers, and manufacturing,” the Palace said in a news statement is sued on Thursday.

A s of this writing, the Palace has yet to disclose the names of the USbased firms, which will be investing in the country.

It is hopeful, however, that the

said investments could still increase once the other pending business deals, which were initiated during Marcos’s visit in the US, are finalized.

Marcos met with several compa nies and business groups in the US last week in a bid to attract more foreign investors in the country.

He noted the new investments will be crucial in local pandemic re covery initiatives and in helping in the development of the government’s priority sectors, namely, informa

tion technology-business process management, digital infrastructure, garments and apparel, as well as in dustry and infrastructure.

Marcos also assured the govern ment will implement policies and legislation, which will be beneficial for both local and foreign businesses.

Currently, the country remains a “smart investment choice” in Asia due to its projected economic growth and strong economic fundamentals, according to the President.

SEA platform on ‘green’ energy shift launched

By Lenie Lectura @llectura

AN interactive data hub that would assist countries, including the Philippines, in their efforts to shift from fossilbased to zero-carbon was launched in Thailand on Thursday.

T he Southeast Asia Information Platform for the Energy Transition, or SIPET, is a pioneering interactive knowledge and coordination platform designed to help overcome persistent communication and coordination challenges faced by thousands of clean energy stakeholders in the region.

We designed SIPET as an opensource, transparent platform to encourage practitioners, experts, and advocates across Southeast Asia [SEA] to coordinate and exchange information in a more

seamless and inclusive manner. We hope to elevate the quality of dialogue in the region as we aim to speed up and scale up the transition to sustainable energy,” said Renato Redentor Constantino, executive director of the Manilabased think tank Institute for Climate and Sustainable Cities (ICSC), said.

T he data hub was launched by the regional initiative Clean, Affordable, and Secure Energy for Southeast Asia (CASE) to help accelerate the region’s energy transition. ICSC is the expert organization of CASE in the Philippines.

We share so much in Southeast Asia such as storms, as the Philippines and Vietnam experienced days ago when supercharged Typhoon ‘Karding’ [international code name Noru]

hammered our respective countries. There is no reason why we should not also share data, insights, and analysis to help the region transition to modern energy services so we can move forward together,” said Constantino.

T he role of SIPET in accelerating the energy transition will prove critical, as energy demand is projected to grow by 80 percent in 2050. Indonesia, the Philippines, Thailand, and Vietnam represent nearly threequarters of total power generation in the region.

Some of the common challenges in coordinating the shift to clean, sustainable energy include the lack of institutional capacity, a dearth of platforms for timely information and intelligence sharing, and persistent duplication

of work because stakeholders are unaware of activities undertaken by other practitioners and advocates.

SIPET is believed to address these challenges by providing a suite of power sector resources, a project database and mapping tool, a knowledge-sharing hub, and a community forum for energy transition professionals.

Through SIPET, we aim to facilitate the narrative in the power sector towards an evidence-based energy transition that robustly supports the region’s development strategies, and towards joint actions that secure a clean, affordable and secure energy future for Southeast Asia,” said Simon Rolland, Energy Project Director of German Agency for International Cooperation.

I am just disappointed that in your sworn statement...you did not allege the Feb. 16, 2021 execution of the MOA, you just cited the date of the MOA.  But from your testimony now, as late as April or May of 2021, you knew—and that’s beyond Feb. 16, 2021—you had personal knowl edge that draft MOAs were still being entertained,” Pimentel told Sevilla.

‘Favored’ supplier?

MEANWHILE, Senator Jinggoy Es trada bared Thursday that one of the alleged “favored” DepEd suppliers cornered close to P6 billion in con tracts for the agency’s Information and Communications Technology (ICT) requirements.

Estrada said Advance Solutions Inc. (ASI) was awarded DepEd con tracts several times—a matter that should have raised “red flags” within the DepEd and investigated by the Commission on Audit (COA).

The consistency of ASI being awarded the contracts does not raise suspicion? Sa dami ng in-award sa ASI bakit mukhang may favoritism kayo

D irector Abram Abanil of the DepEd’s ICT Services confirmed dur ing the hearing that ASI was awarded contracts by the Department “mul tiple times.”

W hen asked by Estrada whether these contracts were awarded since 2015, Abanil said: “As far as I know.” But Abanil said he had no knowl edge of the amount involved since he was not the director for DepEd’s ICT Services in the past when ASI bagged the contracts.

During the hearing, Senator Fran cis Tolentino, the committee chair, gave ASI the opportunity to respond to Estrada’s allegations.

A n ASI representative denied Es trada’s allegations and said the com pany had actively participated in the DepEd’s bidding processes and had been awarded contracts since 2013.

A SI also said it has no contact within the education department except during the implementation phase of the contracts when Estrada asked bluntly: “Who is your contact in the DepEd?”  Butch Fernandez

Ukraine war delaying shift away from coal-fired plants continued from a16

“ We are protesting the ADB’s con tinued financing of fossil gas, which seriously imperils climate action. It is not enough for the ADB to end financing for new coal. It needs to stop financing for all fossil fuels,” said Lidy Nacpil, coordinator of Asian Peoples Movement on Debt and De velopment (APMDD).

“[ADB] should [also] cancel out standing loans from its past support for coal or convert these outstanding

debts to grants for renewable energy. Staggering debt burdens continue to plague most developing countries and the impacts of these burdens are far worse during this time of the multiple crises of Covid, climate, and economic hardships,” she added.

According to Annabel Perreras, Project Data Analyst of NGO Forum on ADB, the current safeguards policy of ADB meant to protect the people from harm is up for review.

UNWTO hails return of tourism traffic to 60% of pre-pandemic levels

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

THE United Nations World Tour ism Organization (UNWTO) emphasized the importance of a whole-government approach to re form tourism, along with enhancing public and private partnerships. Tourism can only deliver on its unique power to provide op portunity and drive sustainable and inclusive growth if it is given practical and economic support,” the organization said in its newly

released World Tourism Day 2022 Report “Rethinking Tourism: From Crisis to Transformation.”

T he report was presented at the global day of observation of World Tourism Day 2022, in Bali, and car ried the theme “Rethinking Tourism.”

I n a news statement, UNWTO Secretary-General Zurab Polo likashvili stressed the unique op portunity presented to tourism to pause, reflect and recalibrate. He said: “The restart of tourism everywhere brings hope. It is the ultimate cross cutting and peopleto-people sector. It touches on al

most everything we do—and ev erything we care about. Tourism’s potential is now recognized more widely than ever. It’s up to us to deliver on this potential.”

T here is reason to celebrate, as per the latest UNWTO World Tourism Ba rometer, which indicated that interna tional tourism from January to July this year, is now back to 60 percent of pre-pandemic levels.

Europe, Middle East lead the way AN estimated 474 million tourists traveled internationally over the pe riod, compared to the 175 million in the same period in 2021, with Europe and the Middle East accounting for the bulk of travelers.

Europe welcomed 309 million in ternational tourists, and accounted for 65 percent of the total travelers during the first seven months of the year. Tourists from the United States, said the UNWTO, boosted intra-regional travel.

T he same was true for the Middle East, which recorded an almost four times year-on-year growth, or 287 per cent in January to July 2022, “boosted by the extraordinary results posted by Saudi Arabia [+ 121 percent] following the Hajj pilgrimage.”

A rrivals in the America and Africa also jumped by 103 percent and 171 percent, representing 65 percent and 60 percent of pre-pandemic levels, respectively. Tourists in the AsiaPacific region grew by 165 percent, although the volumes were still 86 percent below 2019 levels due to the continued closure of some markets to non-essential travel.

Continued promotionsoverseas cited IN the Philippines, tourism stake holders continue to be amazed at the quick recovery of most of the country’s key markets, except for China. Data from the Department of Tourism (DOT) showed foreign tourist arrivals reaching 1.46 mil lion from February 10, when the country eased border restrictions to vaccinated travelers, to Septem ber 12, 2022.

Of the total arrivals, 1.01 million

were foreign passport-holders, ac counting for almost 70 percent of total, while 448,383 were overseas Filipinos. The top 10 foreign mar kets so far were: the US at 278,696; followed by South Korea at 184,604; Australia 64,961; Canada 60,060; the UK 56,676; Japan 50,770; India 28,092; Singapore 26,458; Vietnam 24,167; and Malaysia 22,816.

Speaking in Filipino, Jose C. Cle mente III, president of the Tourism Congress of the Philippines said in a radio interview on Wednesday, “The DOT was correct in continuing to promote the country abroad even during the pandemic. So when we opened up, they [foreign tourists] were all excited to come here.” He revised his forecast for year-end ar rivals to possibly reach 2 million.

Cautious optimism

IRONICALLY, it was the DOT’s continued promotions abroad that caught the ire of Senator Imee Marcos last year, who believed the marketing budget would be put to better use in helping tourism stakeholders strug gling to survive the pandemic. This led to the Senate cutting the DOT’s budget this year by P1 billion from the original P3.57 billion approved by the Department of Budget and Management under the National Ex penditure Program.

P rospects for the remainder of the year are cautiously optimistic. Although above-average perform ance is expected, almost half (47 percent) of UNWTO’s tourism ex perts see positive prospects for the period September-December 2022, while 24 percent expect no particu lar change, and 28 percent consider it could be worse. Experts also seem confident about 2023, as 65 percent see better tourism performance than in 2022.

However, the experts noted, “The economic environment continues to be the main factor weighing on the recovery of international tourism. Rising inflation and the spike in oil prices results in higher transport and accommodation costs, while putting consumer purchasing power and sav ings under pressure.”

DND chief meets with US counterpart on defense, security cooperation

By Rene Acosta @reneacostaBM

DEPARTMENT of National Defense (DND) Officer in Charge Jose Faustino Jr. is expected to meet with his counter part from the United States today (Friday) where discussions on bilat eral defense and security cooperation are expected to take center stage.

Faustino will meet with US De fense Secretary Lloyd Austin III at the US Pacific Command in Hono lulu, Hawaii. This is the second time that both leaders will talk following Austin’s phone call to his Filipino counterpart on September 1.

“The two officials are expect ed to discuss operational coop eration in addressing emerging security challenges in the Indo-

Pacific region,” the DND said in a news statement.

During their conversation earli er this month, Austin and Faustino reaffirmed their countries’ com mitments to the Mutual Defense Treaty, with the US defense chief reiterating America’s “iron clad” support to the Philippines.

Austin also commended Faus tino for his support in advancing the bilateral defense cooperation between two countries and for spearheading the return of regu lar military exercises and in lay ing the groundwork for maritime security cooperation.

Faustino’s presence in Hawaii was upon the invitation of Austin.

Capability enhancement MEANWHILE , the Philippine

Army, Philippine Marine Corps and the Japanese Ground SelfDefense Force (JGSDF) have begun their staff talks in Tokyo, Japan, with the aim of developing an nual and medium-term activities among the three forces that will enhance their capabilities.

Army Assistant Chief of Staff for Plans Colonel Benjamin Lean der, Marine Chief of Staff Colonel Larry Batalla and Colonel Oku Ka zumasa of the JGSDF led the staff talks in Tokyo.

Earlier, Army Commanding General Lt. Gen. Romeo Brawn er Jr. and Marine Acting Com mandant Brig. Gen. Raul Jesus Caldez signed a trilateral terms of reference (TOR) with JGSDF Chief of Staff Gen. Yoshida Yo shihide during the 6th iteration

of the PA-PMC-JGSDF “Strategic Guidance on Cooperation” on July 27, 2022.

The updated TOR laid the ground work for engagements among the Army, Marines and JGSDF, includ ing Japan’s Marine Unit.

Relatedly, the Marines will of ficially start on Monday the 6th it eration of the exercise “Kamandag” with the United States Armed Forces, 31st and 11th Marine Expedition ary Units.

According to Marines spokesman Major Emery Torre, the exercise will be held in areas of Luzon until Oc tober 14.

He said the Philippine Marines and the US Marine Corps would be joined by the Japan Ground SelfDefense Force and the Republic of Korea Marine Corps for the first time

as exercise observers.

“The Philippine Marine Corps looks forward to this year’s Ka mandag Exercise with our foreign military allies who are advanced in terms of amphibious operations, special operations, HADR [Hu manitarian and Disaster Relief] operations, and territorial defense capabilities,” Emery quoted Marine Commandant Major Gen. Charlton Sean Gaerlan as saying.

“Through this exercise, we are able to learn from their techniques, tactics, and procedures to develop our interoperability strategy in the Philippine Marine Corps, es pecially as we operationalize our Marine Corps Operating Concept for Archipelagic Coastal Defense,” Gaerlan added.

At the general headquarters,

Acting Armed Forces of the Phil ippines Vice Chief of Staff Vice Admiral Rommel Anthony SD Reyes met with Roger Noble, Aus tralian Ambassador for Counter Terrorism following the latter’s courtesy call.

During their meeting, the two leaders discussed cooperation in terms of best practice sharing, intel ligence exchange and counter-terror ism training to prepare for future challenges, including the resurgence of threats with the normalization of foreign travel.

“The vice chief of staff also emphasized that it is essential to identify groups that fund these terrorists which the international community play a vital role,” said military public affairs office chief Col. Jorry Baclor.

CJ Gesmundo vows to protect judges from threats, harassment

By Joel R. San Juan @jrsanjuan1573

CHIEF Justice Alexander Gesmundo has assured judges nationwide that the Supreme Court (SC) would do ev erything to protect them from threats and harassment.

T he chief magistrate issued the declaration after the 15-man High Tribunal decided last September 27 to look into possible actions against former National Task Force to End Local Communist Armed Conflict spokesperson Lorraine

Badoy for allegedly red-tagging and harassing Manila Regional Trial Court Judge Marlo Magdoza Malagar after the latter junked the petition for proscription filed by the Department of Justice (DOJ) to declare the Communist Party of the Philippines and its armed wing, the New People’s Army (NPA) as terrorist groups.

S peaking during the second day of the Annual Convention of the Metropolitan and City Trial Judges Association of the Philippines (METCJAP) in Bora cay Island, Aklan, CJ Gesmundo

stressed that the judiciary is very serious in ensuring the protection of judges, which are considered as frontliners in delivering justice to the people.

While it is our constitutional duty to supervise our lower courts, it is our moral duty to protect each of you and ensure that you are able to perform your duties free from any threat, harassment, un due influence, coercion, and, cer tainly, any form of violence,” CJ Gesmundo said.

You can count on us,” he added.      A side from looking into pos

sible sanctions against Badoy, the Court 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.

C J Gesmundo also cited the promulgation of the SC’s decision in Governor Tallado, et al., v. Judge Racoma (A.M. No. RTJ-22-022 dated August 23, 2022) wherein the Court held that an adminis trative charge against a judge shall and must be dismissed outright as long as a judicial remedy is avail able to a complainant.

T he ruling, according to the SC, will ensure that such charges will be studied more thoroughly and adjudged while considering the environment and relational circum stances between the complainant and the judge, to verify if the com plainant has shown a pattern of harassment and undue influence against the judge.

“ The Supreme Court under my watch is very serious about protect ing our frontliners,” CJ Gesmundo assured.

A lso during his speech, the Chief Justice urged the judges, judiciary

workers, and court users to change their mindset, attitude, and per spective as the Judiciary adapts the Strategic Plan for Judicial Innova tions (SPJI) 2022-2027.  The SPJI was approved by the Court on June 28, 2022 under A.M. No 22-04-26-SC.

G esmundo described SPJI as “a plan powered by an Innovation Agenda to review and assess the orga nizational structure and operations of the various offices of the Judicia ry, and to develop and establish an information and communications technology infrastructure for the Philippine Judiciary.”

Britain’s central bank intervenes in market to halt economic crisis

By Danica Kirka & Jill Lawless The Associated Press

LONDON—The Bank of Eng land took emergency action Wednesday to stabilize UK fi nancial markets and head off a cri sis in the broader economy after the government spooked investors with a program of unfunded tax cuts, send ing the pound tumbling and the cost

of government debt soaring.

The central bank warned that crumbling confidence in the economy posed a “material risk to UK finan cial stability,” while the International Monetary Fund took the rare step to urge a member of the Group of Seven advanced economies to abandon its plan to cut taxes and increase borrow ing to cover the cost.

The Bank of England said it would

buy long-term government bonds over the next two weeks to combat a recent slide in British financial assets. The bank’s actions are focused on longterm government debt, where yields have soared in recent days, pushing up government borrowing costs.

“Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial sta bility,” the bank said in a statement.

“This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy.”

The move came five days after Prime Minister Liz Truss’ new government sparked investor concern when it un veiled an economic stimulus program that included 45 billion pounds ($48 billion) of tax cuts and no spending re ductions. It also wants to spend billions to help shield homes and businesses from soaring energy price s, sparking fears of spiraling government debt and higher inflation, which is already running at a nearly 40-year high of 9.9 percent.

The British pound plunged to a re cord low against the US dollar Monday following the government’s announce ment, and yields on UK government debt soared. Yields on 10-year govern ment bonds have risen 325 percent this year, making it much more expensive for the government to borrow to fi nance its policies.

The Bank of England’s plan to buy government debt helped stabilize the bond market, with 10-year bond yields falling to 4.235 percent in midday trad ing in London.

Yields, which measure the return buyers receive on their investment, had risen to 4.504 percent on Tuesday from 3.495 percent the day before the

tax cuts were announced.

The pound traded at $1.0628 on Wednesday in London, after rally ing from a record low of $1.0373 on Monday. The British currency is still down 4 percent since Friday, and it has fallen 20 percent against the dollar in the past year.

Opposition parties demanded Parliament be recalled from a twoweek break to confront the economic crisis. But Truss and Treasury chief Kwasi Kwarteng stayed silent and out of sight, gambling that the economic storm will pass.

Northern Ireland Secretary Chris Heaton-Harris, one of the few govern ment ministers on view Wednesday, said the government’s policies would “make my country richer and more prosperous.”

“I think you will find economic policy takes more than a couple of days,” he said.

On Monday, the Bank of England had refrained from an emergency in terest rate hike to offset the slide in the pound but said it would be willing to raise rates if necessary.

But the bank’s next scheduled meet ing is not until November, and the lack of immediate action did little to bolster the pound. The bank was able to step in immediately with bond purchases because its Financial Policy Committee has a mandate to ensure the stability of the financial system.

The British government said it has fully underwritten the central bank’s intervention on government bonds, known as gilts.

“The Bank has identified a risk from recent dysfunction in gilt markets, so the Bank will temporarily carry out purchases of long-dated UK govern ment bonds from today in order to re store orderly market conditions,” the Treasury said in a statement.

The UK government has resisted pressure to reverse course but says it will set out a more detailed fiscal plan and independent analysis from the Office for Budget responsibility on November 23.

Kwarteng met Wednesday with executives from investment banks including Bank of America, JP Mor gan, Standard Chartered and UBS in a bid to soothe markets alarmed by its economic plans.

The Treasury said Kwarteng under lined the government’s “clear commit ment to fiscal discipline” and promised new measures soon to boost economic growth, including deregulation of fi nancial services.

The central bank was spurred to act after volatility in financial markets spilled over into the broader economy, raising borrowing costs for the govern ment, limiting mortgage options for homebuyers and forcing some pension funds to sell long-term government bonds used to manage risk.

Some analysts estimate that the recent spike in bond yields has added about 20 billion pounds to the cost of servicing the UK’s ballooning debt.

In addition, British mortgage lend ers have pulled hundreds of offers from the market amid expectations the Bank of England will sharply boost interest rates to offset the inflationary impact of the pound’s recent slide.

Market reaction to the govern ment’s plans also has exposed vul nerabilities in UK pension funds. In particular, some defined-benefit pen sion plans, where employers shoulder the risk of guaranteed payouts for their retirees, have been forced to sell long-term bonds to cover liabilities, creating the potential for a downward spiral in prices.

“The extraordinary intervention came amid growing concern that de fined-benefit pension funds … were at risk of being hammered by the plunge in the value of the pound and sharp moves in the long-term gilts market,” said Alice Haine, a personal finance analyst at Bestinvest.

VIEW of the Bank of England in London on Wednesday, September 28, 2022. The Bank of England has launched a temporary bond-buying program as it takes emergency action to prevent “material risk” to UK financial stability. AP/FRANK AUGSTEIN

Indonesia coal miner still Asia’s hottest stock with 1,650% jump

By Fathiya Dahrul

India eyes $550-M incentives to draw Apple, tablet makers

By Sankalp Phartiyal

INDIA plans to boost the financial incentives for manufacturers that make tablets and laptops in the country, wooing companies such as Apple Inc. and Dell Technologies Inc. as part of its bid to challenge China as a production base.

The federal technology ministry has floated the revamped program to electronics industry executives for consultation, including payments that could exceed a half a billion dol lars per company, people familiar with the matter said. India wants to boost production of tablets and laptops to cut imports and make the country an export hub in the longer term.

The effort is aimed at companies such as Apple, Dell, HP Inc. and Asus tek Computer Inc. to widen or begin local production, the people said. In particular, the country wants to per suade Apple, which already assembles iPhones in India via its Taiwanese sup pliers, to make iPads locally.

The plan offers as much as 45 bil lion rupees ($549 million) per manu facturer, according to a government document seen by Bloomberg News. To qualify, foreign companies would need to invest 7 billion rupees in India over five years on top of outlays they’ve made through March 2021. The incentives would depend on local procurement of components and could go as high as the equivalent of about 6 percent of the sales of finished products.

The plan could change after con sultation with the industry. Last year, India launched a program worth 73.5 billion rupees to ramp up local manu facturing and build exports of IT prod ucts such laptops, tablets and personal computers, but the effort failed to attract companies due to a perceived small size of the incentives.

The Narendra Modi administration has been ramping up efforts to attract global electronics names through pol icy initiatives, as China’s allure wanes because of geopolitical tensions and its disruptive Covid Zero policy. There are signs of momentum: Apple began mak ing its new iPhone 14 in India sooner than anticipated, after a surprisingly smooth production rollout that slashed the lag between Chinese and Indian output from months to mere weeks.

Apple has yet to expand iPad produc tion to India though. Besides the incen tives, the US company could be attracted by an Indian computer and tablet market that grew at a 12 percent rate last quarter, according to researcher Canalys, even as global electronics demand slowed.

Companies like Dell and HP, which already make laptops in India on a small scale and have excess capacity, could find it unattractive to invest more to ramp up production. Chinese manu facturers such as Lenovo Group Ltd., meanwhile, could find it difficult to win the incentives amid New Delhi’s frosty relationship with Beijing since a Himalayan border clash between the countries in 2020. Bloomberg News

Report says 200 environmental activists killed globally in 2021

MEXICO CITY—Some 200

environmental and land de fense activists were killed around the world in 2021, including some 54 in Mexico, which assumed the position of the deadliest country in the annual report by nongovernmental or ganization Global Witness.

More than three-quarters of the kill ings took place in Latin America, where Colombia, Brazil and Nicaragua also logged double-digit death tolls.

It was the third consecutive year of increases for Mexico and a jump from 30 such activists killed in 2020.

“Most of these crimes happen in plac es that are far away from power and are inflicted on those with, in many ways, the least amount of power,” the report said.

Global Witness considers its report a baseline, noting “Our data on killings is likely to be an underestimate, given that many murders go unreported, particularly in rural areas and in particular countries.”

The victims died fighting resource exploitation and in land disputes. Con flicts over mining were tied to 27 deaths worldwide, the most for any sector.

Fifteen of those mining-related kill ings were in Mexico.

In the western Mexico state of Jalisco, José Santos Isaac Chávez was killed in April 2021. He was running for local of fice and had made opposition to a longrunning mine a central part of his cam paign. Days before the election, he was found dead in his car, which had been driven off a cliff and his body showed evidence of torture. Armed men had dragged him out of his home and driven him away in his own vehicle.

In April 2021, Sandra Liliana Peña

Chocué, an Indigenous governor in southwest Colombia, who had fought for the eradication of coca crops in Cal dono, Cauca was killed near her home by armed men. Her murder was condemned by the United Nations, nongovernmental organizations and foreign governments.

Overall, killings of environmental activists in Colombia dropped in 2021 to 33 from 65 the year before. The Phil ippines saw fewer such killings in 2021 too, 19 compared to 30 in 2020.

In the Democratic Republic of Congo, all eight recorded victims were killed inside Virunga National Park.

In November, conservation park ranger Chief Brigadier Etienne Mutazimiza Kan yaruchinya, 48, was killed when 100 heav ily armed men, presumed to be former members of the M23 rebel group, attacked a patrol post near the village of Bukima in Congo’s North Kivu Province.

Virunga Park is home to some of the world’s last mountain gorillas, but armed groups such as the Democratic Forces for the Liberation of Rwanda, known by its French acronym FDLR, the Mai-Mai and the M23 regularly vie for control of east ern Congo’s natural resources.

Global Witness called on govern ments to enforce laws that protect activ ists and require informed consent from Indigenous groups, while also requiring companies to be accountable throughout their global operations and have zero tolerance for attacks on land defenders.

“Activists and communities play a crucial role as a first line of defense against ecological collapse, as well as being frontrunners in the campaign to prevent it,” Global Witness CEO Mike Davis said in the report. AP

Shares of the Indonesian coal miner have surged 1,650 percent so far this year, more than six times the perfor mance of the second-best stock on the MSCI Asia Pacific Index. The stock is also the best performer among more than 3,600 metals and mining com panies tracked by Bloomberg.

The firm has slid some 40 percent since an April peak on concerns that the Federal Reserve’s aggressive rate hikes and a possible recession could hurt the metals industry. Still, the company’s expansion into aluminum production as a way to increase EV sales could mean more upside ahead. Analysts are pre dicting another 53 percent gain over the next 12 months, according to fore casts compiled by Bloomberg.

The market is “appreciating the EV story,” said Christopher Andre Benas, head of research at BCA Sekuritas, who added that there will also be increased demand for the firm’s existing coking coal business due to the rising needs from the nickel smelting industry, which relies heavily on the fuel.

The company reported a 491 per cent jump in first-half net income in August due to higher average selling

Foreign exodus from Japan assets signals growing demand for liquidity

By Masaki Kondo & Chikako Mogi

JAPAN’S capital markets suffered the biggest foreign outflow in three months last week as growing fears of a global downturn fueled a search for liquidity.

Non-resident investors offloaded a net 4.04 trillion yen ($28 billion) of Japanese bonds and equities, the big gest withdrawal since mid-June, ac cording to preliminary portfolio flow data from the Ministry of Finance re leased Thursday. Debt accounted for 2.86 trillion yen of the sales.

The selling came as investors dumped everything from stocks to debt and com modities worldwide in September after a wave of aggressive policy tightening damped sentiment. With rates set to rise further as central banks signal they won’t flinch in the battle to tame inflation, investors may continue to seek refuge in the safety of cash.

“Sales of Japanese stocks ballooned as foreigners reduced risk exposure amid concern that the faster pace of rate hikes worldwide would lead to a recession,” said Tsuyoshi Ueno, a senior economist at NLI Research Institute in Tokyo. “Selling in Japanese bonds was part of the global debt rout. The 10-year yield is pegged but super-long bonds are directly exposed to overseas market moves.”

The ministry’s flow data do not provide a breakdown on the kinds of debt global funds sold although most of their investment is concentrated in government bonds.

Japanese sovereign bonds have lost 1.4 percent so far in September to head for their biggest monthly de cline since March 2020. But they are still the fifth-best performer among the markets that make up FTSE Rus sell’s World Government Bond Index.

prices and 9 percent increase in sales volume to 1.17 million tons.

In February, Adaro acquired PT Ad aro Indo Aluminium, an affiliated firm that’s building an aluminum smelter in North Kalimantan province. The firm aims to start production by the first quarter of 2025 to provide material for the EV industry. By then, proceeds should contribute to more than half of its revenue, which is currently com ing exclusively from coal. Aluminum is a major input for the body of many electric vehicles, which are lighter than steel-made cars.

“The stock is still very cheap when taking into account the potential value of its aluminum business in the coming years,” said Ciptadana Sekuritas ana lyst Thomas Radityo. The brokerage

has a 12-month price target of 2,650 rupiah for Adaro Minerals, an upside of over 50 percent from its last close.

Adaro’s price-to-book ratio of nearly 12 is hovering near lows reached over the summer, accord ing to Bloomberg data, though it’s about six times higher than domestic peers including PT Bukit Asam and PT Indo Tambangraya Megah, which produce thermal coal. China’s Shanxi Coking Coal Energy Group and Aus tralia’s Whitehaven Coal Ltd.—both of which produce coking coal—have ratios at about 2.

Still, there are some setbacks. Prices

for everything from iron ore to copper have tumbled in recent months due to concerns about China’s economic growth, which is sapping demand. A stronger dollar is also pressuring broader markets.

“Challenges for Adaro Minerals are lower commodity prices for both cok ing coal and aluminum, lower demand because of slower global GDP expecta tion,” said Trimegah Sekuritas Indone sia analyst Hasbie. The brokerage has a buy-equivalent rating on the stock, citing that its valuation will become increasingly attractive once the alumi num business starts up. Bloomberg News

ASIA’S hottest stock has been fizzling in recent months, but analysts think PT Adaro Minerals Indonesia may still climb higher thanks to a recent acquisition that will boost sales into the supply chain for electric vehicles.

COAL is being loaded at Adaro coal mines. The stock is the best performer among more than 3,600 metals and mining companies tracked by Bloomberg. BLOOMBERG

WORKERS assemble products at a tablet factory. India is floating incentives to attract companies such as Apple, Dell, HP Inc. and Asustek Computer Inc. to widen or begin production in the country. BLOOMBERG

TARA NA, BIYAHE NA!

33rd Philippine Travel Mart returns with

By Anne Ruth Dela Cruz

AFTER two years of strict travel restrictions, the Phil ippine Travel Operators As sociation (PHILTOA) returns with the biggest travel bazaar in the country – the 33rd Philippine Travel Mart (PTM).

Scheduled to start today and run until Sunday, October 2, 2022 at the SMX Convention Center Ma nila, MOA Complex in Pasay City, the event gathers 300 of the most prestigious and respected brands and institutions in tourism, hospi tality and travel and tours indus tries all under one roof. Occupying SMX Manila’s four grand event halls, PTM 2022 features dressedup booths and pavilions represent ing the attraction, colors and cul tures of particular destinations, regions, resorts and hotels.

PHILTOA, an organization of tour operators and allied mem bers actively involved in the ad vocacy of responsible tourism founded in 1986, aims to become the “leading inbound and domes tic tourism association with glob al networks actively contributing to national economic growth” by forging “national and global affili ations and alliances with tourism

related associations and organi zations and providing members with dynamic and proactive education and training, product development, programs and fel lowship for the common good of Philippine Tourism.”

PHILTOA launched PTM in 1994 under the initiative of the De partment of Tourism (DOT) as a way to fulfill their mission and vision.

All regions present

For the first time the country’s re gions will be featured in their own pavilion, making a visit to PTM a veritable tour of the entire Philip pines. This gives visitors a chance to see the wide-ranging array of attractions that tourists and trav elers can experience and enjoy throughout the country.

The participation of the re gions, namely, Ilocos Region (Re gion I), Cagayan Valley (Region 2), Central Luzon (Region 3), CALA BARZON (Cavite, Laguna, Batan gas, Rizal, and Quezon - (Region 4 A), MIMAROPA (Mindoro, Marinduque, Romblon, and Pala wan - Region 4-B), Bicol Region (Region 5), Western Visayas (Re gion 6), Central Visayas (Region 7), Eastern Visayas (Region 8), Zamboanga Peninsula (Region 9),

Northern Mindanao (Region 10), Davao Region (Region 11), SOCC SKSARGEN, (South Cotabato, Co tabato, Sultan Kudarat, Sarangani, and General Santos - Region 12), Caraga (Region 13), CAR (Cordil lera Administrative Region), the Bangsamoro Autonomous Region of Muslim Mindanao (BARMM), and the NCR, only signifies the dy namic revival of the country’s local tourism industry.

Each region is really very excited to promote their destina tions which have been sleeping for the last two years and a half. The two and a half years were spent preparing these destina tions. There was retooling, up scaling and renovations of the properties, upscaling of the staff so we want to give back to them for their efforts by preparing this Travel Mart for them,” said PHIL TOA President Fe Abling-Yu.

Love of country

She added that she was doing this not for PHILTOA but for “love of country and love of tourism” which is the group’s source of live lihood.

This is our way of helping our government promote domes tic tourism because as we speak,

domestic tourism is what we are enjoying right now. And I keep telling the regions that they have to go out to promote their des

tinations and that they should bring it to the National Capital Region because this is where the domestic tourists are,” Abling-Yu

added. A bling-Yu noted that the traveling habits of Filipinos have changed since the Covid-19 pan

The Cove Live Seafood Restaurant

ON August 8, 2022, The Cove Live Seafood Restaurant located inside the iconic Blue water Maribago Beach Resort reopened its doors to the public after a two-year hiatus brought about by the Covid-19 pandemic. It is a sign that local and domestic tourism has now started to pick up and usher the tourism and res taurant industry to its long-awaited recovery.

The restaurant takes its name from the little-known Maribago Cove, a geographical

feature which covers the beachfront of all the resorts in Lapu-Lapu’s tourism belt. Its food philosophy, on the other hand, takes inspiration from the simple and minimalist way of cooking practiced by the local fishermen in the coastal areas of Mactan.

Sugba, tuwa and kilaw are some of the ways the Cebuano ancestors prepare their meals after a long night or day out in the sea fishing, simple cooking that needs simple ingredients.

The Cove’s expert chefs take these traditional methods and perfect them to create dishes that manifest what a local meal is all about. The meals are wholesome because they lacks the preservatives or additives. They are authentic because they use ingredients that are no longer in common use like the tabontabon fruit and kaffir lime for that authentic Bisaya kinilaw so loved by our grandparents but few in our generation have ever sampled

Shop for stays and enjoy discounts with

DRIVE

, fly or sail to your next destination and stay where you’ll feel most at home. Catch all the properties of Megaworld Hotels and Resorts and enjoy at least 50 percent discount on accommodation vouchers at the 33rd Philippine Travel Mart happening on September 30 until October 2, 2022 at the SMX Convention Center Manila, Mall of Asia Complex in Pasay City.

T he Philippines’ largest 100 percent homegrown hotel management brand gives you more reasons to shop for stays

and travel again this year or in 2023.

Find yourself in the National Capital Region with properties like Belmont Hotel Manila and Savoy Hotel Manila located right across the Ninoy Aquino International Airport Terminal 3 or at the newly opened Kingsford Hotel Manila that’s only eight minutes away from both local and international airport through the NAIA Express Way. Stay in Hotel Lucky Chinatown closest to Binondo, the oldest Chinatown in the world. One can also enjoy a night or two at

the Eastwood Richmonde Hotel or Richmonde Hotel Ortigas where you’re at the center of the City’s Commercial and Shopping districts. If in case you’d like to stay in style while you bond with nature, why not book a weekend at the breathtaking Twin Lakes Hotel with a perfect view of Taal Lake visible from all its rooms.

To add to your list, escape to the Newcoast in Boracay and enjoy a tranquil island vacation with Belmont Hotel Boracay and Savoy Hotel Boracay. If you’re up for a

Asik-Asik Falls, located in Alamada, Cotabato Province, is regarded as one of the country’s most beautiful waterfalls. It’s like a waterfall cascading down the side of the mountain, flowing into a velvety verdant wall. According to legend, the water from the falls possesses healing properties and is consequently regarded as a gift from God by the people.

Philippine TravelA BusinessMirrorFriday, September 30, 2022 | www.businessmirror.com.phA8 Batangas, who is participating in the Philippine Travel Mart, is home of the Minor Basilica of St. Martin

Travel Mart

Special Feature

with a vengeance at SMX

they are traveling in style. Just recently, I received a request from a group of tourists who wanted to have a cruise in Boracay. It costs P50,000 for three hours use of a yatch around Boracay,” she said.

34th PTM slated

She added that PHILTOA has al ready blocked out the dates for the 34th Philippine Travel Mart which will happen on September 1 to 3, 2023 at SMX.

We have to do well this year so that we won’t have to worry too much next year. This will be the benchmark for the succeeding Travel Marts,” Abling-Yu added.

In support of the PTM and the Philippine tourism industry in general, the DOT headed by Secre tary Christina Garcia Frasco hopes to increase the product portfolio available to both local and interna tional tourists.

“ The DOT is working on de veloping new regional tourism surveys that will highlight naturebased tourism, MICE (Meetings, Incentives, Conferences and exhibi tions) tourism, food and gastrono my, our heritage and culture, health and wellness, the arts and more. All these tourism dimensions will get equal promotion, attention, and support as we expand ourselves from the traditional portfolio and go into multi-dimensional tour ism,” Frasco said during the official launch of PTM.

Participating institutions

Participants to the PTM include the Tourism Infrastructure and Enterprise Zone Authority (TIE ZA), the DOT’s implementing arm in providing support infra structures and facilitating invest ments in tourism enterprise zones nationwide.

A P TM participant for the past 33 years, TIEZA will be offering packages for Banawe, Sagada and the Mountain Province, specifically Mount Data Hotel which reopened its doors last May.

Travel gear

The Primer Group will be on hand to offer their travel gear for sale as well as industrial air conditioning units, sanitation and even creative printing executions. Their booth will have “reimagined travel” as its con cept as it strongly believes that the future of travel is sustainable travel.

A ir Asia, on the other hand, will offer even lower promo fares. It will also promote the Air Asia super app which sells travel packages.

The 33rd Philippine Travel Mart is co-presented by the DPT and the Tourism Promotions Board and supported by Diamond Spon sor Bank of the Philippine Islands; Gold Sponsors Philippine AirAsia, Turkish Airlines, PLDT Enterprise, and Guest App; Silver Sponsor Cebu Pacific Air and Bronze sponsor Philippine Airlines.

The media partners include ABS-CBN, ANC, (ABS-CBN News Channel), BusinessMirror, Pili pinoMirror, Philppines Graphic, DWIZ, 97.9 Home Radio, Manila Bulletin, Philippine Star, Adventours Media, Island Living Channel, Tril pZilla.ph and EntrePinas TV.

demic. Before, people travel with only one companion. This time around, Filipino families are trav eling together and expense is not

Restaurant Reopens

or even know about.

Authenticity at the Cove also means that it uses only local ingredients like fish sourced from a neighboring town’s fish market and that these are cooked fresh to ensure that all the flavors of the fish or seafood are preserved for our diners to savor.

Loyal patrons, families and couples can now enjoy the Cove with its distinct ambiance and good local food that should be the hallmark

an issue with them.

“ I noticed that more families are traveling together and they do not care about cost. If I may say,

of memorable celebrations.

As part of its procurement policy, The Cove res taurant will only serve locally sourced ingredi ents and seafood. They will work closely with its suppliers to ensure that the catch ending up in our kitchens is harvested sustainably.

The restaurant will also not serve any fish or seafood species that are threatened or en dangered as part of its adherence to the United Nations Sustainable Development Goals of Sus tainable Consumption and the protection of Life Below Water.

A nother company that is par ticipating is Victory Liner. The 77-year-old bus firm with more than 1,000 passenger, shipping and tourist buses will be offering their chartered services. Among the 1,000 buses are 26 new tour ist buses that have been accredited with DOT.

just as the ancestors intended when they pre pared their meals taken from their fresh catch of the day. This way, carbon footprint can be reduced by reducing the use of cooking fuel and still bring out the best of the local cuisine that is part of the food traditions of the coastal areas around the islands that the Cove wants to repre sent and elevate to the rest of the world.

The restaurant’s reopening is also part of Bluewater Maribago’s Anniversary Celebra tion. The resort turns 33 this year and is an important milestone as it intends to navigate

with Megaworld Hotels and Resorts

taste of history and culture, explore Iloilo and find respite in Richmonde Hotel Iloilo located at the heart of the Iloilo Business Park. You should also consider enjoying the sights, sounds, and flavors of Cebu from its beaches, shopping opportunities, and foodie delights while you rest and power up in Savoy Hotel Mactan Newtown.

W herever you plant to go, whether it be in Boracay, Cebu, Manila or Iloilo, surely there’s something to experience and a place for you in MHR’s six brands, 11 properties, and 4,000 room keys that’s all waiting for you.

Martin de Tours. The famous White Beach of Puerto Galera.

Suu Kyi convicted again, Australian gets 3 years

By Grant Peck The Associated Press

BANGKOK—A

court in militaryruled Myanmar convicted former leader Aung San Suu Kyi in another criminal case Thursday and sentenced Australian economist Sean Turnell to three years in prison for violating Myanmar’s official secrets act, a legal official said.

Suu Kyi received a three-year sentence after being tried and convicted with Turnell under the secrets law, said the official, who spoke on condition of anonymity because he is not authorized to release information about the case.

Three members of her Cabinet were also found guilty, each receiving sentences of three years.

Turnell, an associate professor in economics at Sydney’s Macquarie University, had served as an adviser to Suu Kyi, who was detained in the capital Naypyitaw when her elected government was ousted by the army on Feb. 1, 2021.

He has been in detention for almost 20 months. He was arrested five days after the military takeover by security forces at a hotel in Yangon, the country’s biggest city, while waiting for a car to take him to the city’s international airport.

He had arrived back in Myanmar from Australia to take up a new position as a special consultant to Suu Kyi less than a month before he was detained. As director of the Myanmar Development Institute, he had already lived in Naypyitaw for several years.

The day after the military’s takeover, he posted a message on Twitter that he was: “Safe for now but heartbroken for what all this means for the people of Myanmar. The bravest, kindest people I know. They deserve so much better.”

He was charged along with Suu Kyi and the three former Cabinet ministers on the basis of documents seized from him. The exact details of their offense have not been made public, though state television said last year that Turnell had access to “secret state financial information” and had tried to flee the country.

Turnell and Suu Kyi denied the allegations when they testified in their defense at the trial in August.

Turnell was also charged with violating immigration law, but it was not immediately clear what sentence he received for that.

Myanmar’s colonial-era official secrets act criminalizes the possession, collection, recording, publishing, or sharing of state information that is “directly or indirectly, useful to an enemy.” The charge carries a maximum penalty of 14 years in prison.

All sessions of the trial, held in a purpose-built courtroom in Naypyitaw’s main prison, were closed to the media and the public. The defense lawyers were barred by a gag order from revealing details of the proceedings.

The same restrictions have applied to all of Suu Kyi’s trials.

The case that concluded Thursday is one of several faced by Suu Kyi and is widely seen as an effort to discredit her to prevent her return to politics.

She had already been sentenced to 20 years’ imprisonment after being convicted of illegally importing and possessing walkie-talkies, violating coronavirus restrictions, sedition, election fraud and five corruption charges. The cases are widely seen as being concocted to keep the 77-year-old Suu Kyi from returning to active politics.

Suu Kyi is still being tried on seven counts under the country’s anti-corruption law, with each count punishable by up to 15 years in prison and a fine.

Defense lawyers are expected to file appeals in the secrets case in the coming days for Turnell, Suu Kyi and three former ministers: Soe Win and Kyaw Win, both former ministers for planning and finance, and Set Aung, a former deputy minister in the same ministry, the legal official said.

About half-a-dozen foreigners are known to have been arrested on political charges since the army takeover, and they generally have been deported after their convictions.

Australia has repeatedly demanded Turnell’s release. Last year, it suspended its defense cooperation with Myanmar and began redirecting humanitarian aid because of the military takeover and Turnell’s ongoing detention.

Tim Harcourt, a longtime friend of Turnell, said he still holds out hope that his fellow economist will soon be released.

“He’s a great economist, nice bloke and a great human being. His main cause in life is to reduce poverty around the world and he’d developed particular expertise in Myanmar,” Harcourt, a Sydney academic, told AP. “But alas he was detained on trumped up charges. Hopefully common sense and justice can prevail and Sean can return to his wife and family in Australia soon.”

It was not immediately clear if Turnell’s 20 months already spent in detention would be deducted from his sentence.

Cambodian Prime Minister Hun Sen, when he visited Myanmar in January this year, asked for Turnell’s release in a meeting with the leader of ruling military council. Senior Gen. Min Aung Hlaing replied that he “would consider it positively.”

The UN Special Envoy on Myanmar Noeleen Heyzer said she conveyed a specific request from Australia for Turnell’s release when she met with Min Aung Hlaing in August. Myanmar’s government said the general replied that, should the Australian government take positive steps, “we will not need to take stern actions.”

According to the Assistance Association for Political Prisoners, a rights monitoring organization, 15,683 people have been detained on political charges in Myanmar since the army takeover, with 12,540 of those remaining in detention. At least 2,324 civilians have been killed by security forces in the same period, the group says, though the number is thought to be far higher.

Myanmar has been in turmoil since the takeover, which led to nationwide protests that the military government quashed with deadly force, triggering armed resistance that some UN experts now characterize as civil war.

The Associated Press writer Rod McGuirk in Canberra, Australia, contributed to this report.

People trapped, 2.5M without power as Ian drenches Florida

By Curt Anderson The Associated Press

One of the strongest hurricanes to ever hit the United States churned across the Florida peninsula, threatening catastrophic flooding inland. Ian’s tropicalstorm-force winds extended outward up to 415 miles (665 km), and nearly the entire state was getting drenched.

The National Hurricane Center said Ian became a tropical storm over land early Thursday and was expected to regain near-hurricane strength after emerging over Atlantic waters near the Kennedy Space Center later in the day. Flooding rains continued across the state, and a stretch of the Gulf Coast remained inundated by ocean water, pushed ashore by the massive storm.

“Severe and life-threatening storm surge inundation of 8 to 10 feet above ground level along with destructive waves is ongoing along the southwest Florida coastline from Englewood to Bonita Beach, including Charlotte Harbor,” the center said.

In Port Charlotte, along Florida’s Gulf Coast, the storm surge flooded a lowerlevel emergency room in a hospital even as fierce winds ripped away part of the roof from its intensive care unit, according to a doctor who works there.

Water gushed down onto the ICU, forcing staff to evacuate the hospital’s sickest patients—some of whom were on ventilators—to other floors, said Dr. Birgit Bodine of HCA Florida Fawcett Hospital. Staff members used towels and plastic bins to try to mop up the sodden mess.

The medium-sized hospital spans four floors, but patients were forced into just two because of the damage. Bodine planned to spend the night there in case people injured from the storm arrive needing help.

“As long as our patients do OK and nobody ends up dying or having a bad outcome, that’s what matters,” Bodine said.

Law enforcement officials in nearby Fort Myers received calls from people trapped in flooded homes or from worried relatives. Pleas were also posted on social media sites, some with video showing debris-covered water sloshing toward homes’ eaves.

Brittany Hailer, a journalist in Pittsburgh, contacted rescuers about her mother in North Fort Myers, whose home was swamped by 5 feet (1.5 meters) of water.

“We don’t know when the water’s going to go down. We don’t know how they’re going to leave, their cars are totaled,” Hailer said. “Her only way out is on a boat.”

Hurricane Ian turned streets into rivers and blew down trees as it slammed into southwest Florida on Wednesday with 150 mph (241 kph) winds, pushing a wall of storm surge. Ian’s strength at landfall was Category 4 and tied it for the fifth-strongest hurricane, when measured by wind speed, to ever strike the US.

Ian dropped to a tropical storm early Thursday over land, but was expected to intensify again once its center moves over the Atlantic Ocean and menace the South Carolina coast Friday at near-hurricane strength. Storm surges as high as 6 feet (2 meters) were expected on both sides of the peninsula.

At 5 a.m. Thursday, the storm was about 40 miles (70 km) southeast of Orlando and 35 miles (55 kilometers) southwest of Cape Canaveral, carrying maximum sustained winds of 65 mph (100 kph) and moving toward the cape at 8 mph (13 kmh), the Miami-based hurricane center said.

Hurricane warnings were lowered to tropical storm warnings across the Florida peninsula, with widespread, catastrophic flooding remaining likely, the hurricane center said.

Up to a foot (30 centimeters) of rain forecast for parts of Northeast Florida, coastal Georgia and the Lowcountry of South Carolina. As much as 6 inches (15 centimeters) could fall in southern Virginia as the storm moves inland over the Carolinas, and the center said landslides were possible in the southern Appalachian mountains.

No deaths were reported in the United States from Ian by late Wednesday. But a boat carrying Cuban migrants sank Wednesday in stormy weather east of Key West.

The US Coast Guard initiated a search and rescue mission for 23 people and managed to find three survivors about two miles (3 kilometers) south of the Florida Keys, officials said. Four other Cubans swam to Stock Island, just east of Key West, the US Border Patrol said. Air crews continued to search for possibly 20 remaining migrants.

The storm previously tore into Cuba, killing two people and bringing down the country’s electrical grid.

The hurricane’s eye made landfall near Cayo Costa, a barrier island just west of heavily populated Fort Myers. As it approached, water drained from Tampa Bay.

More than 2.5 million Florida homes and businesses were left without electricity, according to the PowerOutage.us site. Most of the homes and businesses in 12 counties were without power.

Sheriff Bull Prummell of Charlotte County, just north of Fort Myers, announced a curfew between 9 p.m. and 6 a.m. “for life-saving purposes,” saying violators may face second-degree misdemeanor charges.

“I am enacting this curfew as a means of protecting the people and property of Charlotte County,” Prummell said.

Life-threatening storm surges and hurricane conditions were possible on Thursday and Friday along the coasts of northeast Florida, Georgia, and South Carolina, where Ian was expected to move inland, dumping more rain well in from the coast, the hurricane center said.

The governors of South Carolina, North Carolina, Georgia and Virginia all preemptively declared states of emergency.

The Associated Press contributors include Christina Mesquita in Havana, Cuba; Cody Jackson and Adriana Gomez Licon in Tampa, Florida; Freida Frisaro in Miami; Anthony Izaguirre in Tallahassee, Florida; Mike Schneider in Orlando, Florida; Seth Borenstein and Aamer Madhani in Washington; Bobby Caina Calvan in New York; Andrew Welsh-Huggins in Columbus, Ohio; Jay Reeves in Birmingham, Alabama, and Alina Hartounian in Phoenix, Arizona.

ST. PETERSBURG, Fla.—Hurricane Ian left a path of destruction in southwest Florida, trapping people in flooded homes, damaging the roof of a hospital intensive care unit and knocking out power to 2.5 million people before aiming for the Atlantic Coast on Thursday.

As Japan and China mark 50-year normalization ties, moods are mixed

By Mari Yamaguchi The Associated Press

TOKYO—Japan and China marked the 50th anniver sary of normalization of their ties Thursday as their lead ers Fumio Kishida and Xi Jinping stressed the importance of their strengthened relationship over the decades, though they still

face difficulties.

On September 29, 1972, then-Prime Minister Kakuei Tanaka and Chinese Premier Zhou Enlai signed a communi qué normalizing their ties and pledging peace and friendship. In the communique, Japan ex pressed remorse over wartime damage on China and acknowl edged Beijing as the country’s

only legitimate government.

Despite the milestone, the cer emony lacks a celebratory mood as the two countries remain at odds over disputed East China Sea islands and China’s growing military and economic influence in the region.

Japan considers China a se curity threat and is promoting security and trade frameworks

with the United States and other democracies as a counter to Bei jing’s growing influence. China’s escalating tension around Tai wan is also a growing concern.

While Japan-China relations today have a variety of possibili ties, they face a number of issues and concerns, Kishida said in a message to Xi, which was shown on a big screen at a ceremony

sponsored by Japanese influential busi ness organizations and friendship groups and held at a Tokyo hotel.

Kishida said he hoped to develop “con structive and stable relations” with China to fulfil a responsibility they share as ma jor powers in contributing to regional and global peace and stability, looking ahead the next 50 years of their ties.

He said it is important to remember their starting point 50 years ago when the normalization was achieved.

Xi, in his message sent to Kishida, said normalization of their ties in 1972 opened “a new chapter” in bilateral relations and the two countries have since deepened exchanges and cooperation, bringing welfare to both peoples and peace and development to the region and the world.

He said he attaches “great importance” to the development of their ties and is willing to work with Kishida “to build a China-Japan relationship that meets the requirements of the new era.”

China’s Ambassador to Japan, speak ing in fluent Japanese at the reception, noted “ups and downs,” and said the Ja pan-China relationship stands at a new

historic starting line and an important turning point.

“Both of us need to seriously think about where we should head for in the next 50 years,” Kong Xuanyou said in fluent Japanese. He said the two sides must build “political trust” and cooperate toward building a “win-win” relationship and pursue friendship “while managing contradictions and problems.”

Despite political difficulty, economic relations between the two countries have boomed over the past half-century. China is Japan’s biggest trade partner.

Masakazu Tokura, chair of Japan Business Federation—a powerful busi ness organization known as Keidanren and a host of Thursday’s reception—said the relationship with China is one of the most important bilateral relationships for Japan, especially the economic ties.

“In order to further strengthen the economic ties, constructive and stable political and diplomatic relations are ex tremely important,” Tokura said.

A reception marking the anniversary was also held in Beijing at the Diaoyutai State Guesthouse.

Vaccine appears to protect against monkeypox–CDC

By Amanda Seitz The Associated Press

WASHINGTON—At-risk people who received a single dose of the monkeypox vaccine in US efforts against the virus appeared to be significantly less likely to get sick, public health officials announced Wednesday, even as they urged a second dose for full protection.

It was the first look public health officials have offered into how the Jynneos vaccine is affecting monkeypox, a virus that is primarily spread among men who have sex with infected men.

“These new data provide us with a level of cautious optimism that the vaccine is working as intended,” Rochelle Walensky, director of the Centers for Disease Control and Prevention, said Wednesday.

Roughly 800,000 first and second doses of the vaccine have been adminis tered across the country to people who are considered high risk for becoming infected with the virus, White House National Monkeypox Response Coordina tor Bob Fenton said.

There is no scientifically conclusive data available to prove effectiveness of the Jynneos vaccine against monkeypox.

But the CDC’s new real-world figures show that unvaccinated men, between the ages 18 and 49 who were considered eligible for the vaccine, were 14 times as likely to become infected with monkeypox as those who had one dose at least two weeks earlier. The data came from 32 states for cases from July 31 through September 3.

Still, Walensky said, lab studies show the highest level of immunity from the virus is reached after people get a second dose of the vaccine, calling it “really important.”

The US leads the world in monkeypox cases. So far more than 25,000 infec tions of the virus, which can cause rash, fever, body aches and chills, have been reported.

The country suffered from early problems in its response, with US officials struggling to distribute the vaccine after the first case was detected in May. As some cities and counties tried to stretch the limited supply this summer they stopped offering the recommended second dose of the shot.

Now, public health officials are trying to catch up, reminding people to get their second dose. About 150,000 second doses had been administered as of September 17, according to CDC.

“We’re really asking providers to do outreach to get people their second dos es,” Walensky said.

Public health officials also announced changes Wednesday to who is eligible for the vaccine and how they can get it.

The new CDC guidance is intended to reach more people who might be at risk for monkeypox exposure. The guidance makes gay, bisexual men and transgender people who have had more than one sexual partner in the past six months eligible for the vaccine. It also allows the vaccine to be administered on the shoulder or upper back so marks from the shot can be covered with clothing.

The number of new monkeypox cases has declined in recent weeks, but there are signs of worsening racial disparities, with Black people making up roughly 47 percent of new cases reported the week of September 11.

CHINESE Ambassador to Japan Kong Xuanyou delivers a speech during a reception to mark the 50th anniversary of Japan-China diplomatic relations on Thursday, September 29, 2022, in Tokyo. AP/EUGENE HOSHIKO

editorial

Why govt needs to fund Libreng Sakay program

Thetotal number of employed persons in the Philippines reached about 44 million in 2021. The Philippine Statistics Authority said that based on the July 2019 Labor Force Survey, the National Capital Region has about 9.38 million people aged 15 years old and over. Of this number, about 5.77 million are part of the labor force.

Apart from being the seat of government, Metro Manila hosts the headquarters of the Philippines’s top companies and multinational corporations operating in the country. As the economic engine of the Philippines, the NCR accounts for the largest share in the country’s GDP at 36 percent.

To benefit more than five million Metro Manila workers, Agri Partylist Rep. Wilbert Lee on Tuesday asked fellow lawmakers to restore the proposed budget of the Department of Transportation for its “Libreng Sakay” program. Lee underscored the importance of the free rides program, noting that scrapping it during these challenging times would be a disservice to the millions of ordinary workers who are the backbone of our economic recovery.

The call to fund the “Libreng Sakay” program came after Transportation Secretary Jaime Bautista’s statement that the long-term implementation of the “Libreng Sakay” program is untenable. “We should understand that while “Libreng Sakay” provided much appreciated transport relief during the pandemic, its long-term viability is untenable considering the constraints to the national budget,” Bautista said (Read, “Libreng Sakay ‘untenable’ budget-wise–DOTr chief,” in the BusinessMirror , September 15, 2022).

Neda Undersecretary for Planning and Policy Rosemarie G. Edillon recently said that wage and salaried workers are the ones who bear the brunt of high commodity prices. She said the most affected are those who have fixed incomes whose purchasing power gets eroded. Based on the inflation rate of 6.3 percent in August, the Philippine Statistics Authority said the purchasing power of the peso is at 0.86, which means buying P100 worth of goods in 2018 would now cost P114 (Read, “Fixedincome workers bear brunt of inflation,” in the BusinessMirror , September 8, 2022).

Edillon said the government has been providing subsidies to Filipinos such as the “Libreng Sakay” program for commuters in Metro Manila as well as students who are already attending face-to-face classes. She also said the government is extending fuel subsidies for the food and agriculture sector along with fertilizer vouchers to help farmers and fisher folk cope with rising prices of inputs and fuel. In addition, the government has also provided targeted cash subsidies for poor Filipinos along with the educational aid extended by the Department of Social Welfare and Development.

High inflation can push many people into poverty, and some pundits say poverty is the mother of crime. But studies have shown that crime is not driven by poverty alone, but rather by inequality. The more inequality there is, the more incentive for the poor to do something illegal in order to survive.

In general, the more inequality there is, the harder it is to maintain peace and order in any place. As prices continue to spiral, the government can help alleviate the suffering of ordinary workers. One way to do this is to fund the Libreng Sakay program. This could be done temporarily, until the government succeeds in taming runaway inflation in the country.

Restoring damaged heritage sites

sonny M. angara

Better Days

LAST July, a 7.0-magnitude earthquake shook many provinces in Northern Luzon. it was strong enough to be felt in Metro Manila and even adjacent provinces like Cavite and Laguna. The temblor was both massive and deadly as it caused at least 11 deaths, 615 injuries, 33,000 displaced individuals and at least P1.8 billion in damages per news reports. To illustrate its effect, Phivolcs said that an earthquake of such scale overturns and topples heavy objects and furniture, makes it difficult for people on upper floors to stand, and causes slight damage to well-built structures and considerable damage to old or poorly-built structures.

Following the quake, the video of the centuries-old Bantay Bell Tower in Ilocos Sur crumbling and falling apart immediately went viral. Many pictures soon followed showing similar damages in various cathedrals, historical venues, and accommodation facilities. Aside from loss of life and human injury, the quake had also caused significant damage to many heritage sites, as the National Historical Commission of the Philippines

(NHCP) said that the aftermath was “far worse” than those of the Cebu and Bohol earthquake in 2013.

In the NHCP’s initial assessment, most structures damaged by the earthquake were declared National Historical Landmarks and Important Cultural Properties such as the Vigan Cathedral, Calle Crisologo, among other old structures and ancestral houses that are protected by Republic Act (R.A.) No. 10066 or the

Heritage Law, which we authored in 2009. The Department of Tourism (DOT) also released a list of quakeaffected tourist destinations, namely the 19th-century Santa Catalina de Alexandria Church and the San Lorenzo Ruiz Shrine in Abra, which was declared as a National Cultural Treasure in 2001, Santa Ana Beach Area in Ilocos Sur, and the TIEZAoperated Banaue Hotel and Youth Hostel in Ifugao.

Article XIV, Section 50 of the Heritage Law provides for the National Endowment for Culture and the Arts that can be used for any effort at restoring heritage sites. Such fund is administered by the National Commission for Culture and the Arts, is held in a special account in the Bureau of the Treasury, and can be used exclusively for the implementation of culture and arts programs and projects. Moreover, the Heritage Law states that “all cultural properties declared as important cultural property may also receive government funding for its protection, conservation and restoration.”

In the 2022 General Appropriations Act (GAA), P1.289 billion was allocated to various heritage-related programs and projects. Of which,

P82.6 million is for the restoration, preservation, and conservation of numerous national shrines, museums, structures, and landmarks under the NHCP’s budget, including P97.9 million for the restoration of Gabaldon and other heritage school buildings.

Clearly, resources will be needed in the coming years to restore and rehabilitate the heritage sites damaged by the earthquake. And the effects of utilizing these resources will be magnified if they coincide with other assistance projects.

For instance, RA 11346, which we sponsored in 2019, provides that certain portions of excise tax revenues from tobacco products shall be allocated and divided among tobaccoproducing provinces, including those hit by the earthquake such as Cagayan, Isabela, Abra, Ilocos Norte, Ilocos Sur, La Union, among other northern provinces and used for programs benefiting tobacco farmers. Such programs may include farm-to-market roads, bridges, schools, hospitals, rural health facilities and irrigation systems that are much needed given the temblor’s aftermath.

An article by the provincial government of Manitoba, Canada

Where is the fishing resource rent (profit) from Laguna Lake going?

peso of fish harvested. Cost ratios for the fish pens are much lower, likely due to economies of scale, which results in a very high resource rent to revenue ratio.

Dr. rosalina Palanca-tan

eaGLe WatCH

FiShiNg

considered to be the most important among the many uses of Laguna Lake, the largest lake in the Philippines.

is

Vulnerable households in rural and semi-urban barangays of Laguna and Rizal, and even in the urbanized cities of Metro Manila, surround and depend on the lake for their primary source of livelihood, either as fisherfolk in open fishing areas or as operators of small-scale (1 hectare or smaller) fish cages. The large-scale fish pens, however, are owned by corporations and individuals who are not residents of the lake-adjacent barangays.

The Laguna Lake Development Authority 2016 report shows the importance of the small fisherfolk fishing activities. Open fishing surpasses fish cages and pens in output, revenues, employment, and labor income generation. LLDA estimated open fishing harvest in 2014 to be 107 million kg—33 percent more than production from fish cages. The estimated gross revenue of P3.8 million from open fishing was double that of fish cages and almost six times that of fish pens. Open fishing provided employment and livelihood to the households of 13,139 fisherfolk and generated labor income of P1.1 million, more than thrice that of fish cages and more than eight times that of fish pens.

Nevertheless, minimal net income or resource rents from Laguna Lake accrue to each fisherfolk and fish cage owner, compared to the exorbitant resource rents enjoyed by the few nonlakeshore resident, fish pen-owning corporations and individuals.

The LLDA has estimates of output, revenues, and costs of open fishing, fish cages, and pens. Cost to revenue ratios reveal that open fishing has much lower intermediate input, fixed capital input, and user cost of capital to revenue ratios— and, hence, a much higher resource rent (net gain) to revenue ratio— compared to fish cages. Open fishing generates more revenues from every peso of fish caught than what fish farming in cages generates for every

In 2018, the LLDA published a list of registered fish pen owners. Most fish pen owners—99 out of 137, or 72 percent—were corporations. While 77 of the corporate owners had only one fish pen each; 22 own an average of four fish pens each, occupying a total area of 3,039 hectares, which is almost half (45 percent) of the total registered fish pens’ area of 6,831 hectares. As for the 38 individual fish pen owners, 30 had one fish pen each (with average size of 7.2 hectares) and 8 had an average of 4 pens each (average size of 18.8 hectares).

Deducting the minimal resource fee of P6,000 per hectare of fish pen collected by the LLDA from the resource rent of P49,000 per hectare, about P293.96 million worth of resource rent per year was retained by 137 non-resident corporate and individual fish pen owners. Each fish pen owner retained P2.15 million, on average, of resource rent per year for itself. The largest amount of resource rent was enjoyed by the multi-pen corporate owner (P5.94 million) followed by the multi-pen individual owner (P3.24 million).

Most fish cages are owned by fisherfolk residing in the lakeshore barangays. Of the 340 fish cage owners in LLDA’s 2018 registration, 213 were residents of Rizal, 79 were residents of Metro Manila, and 48

were residents of Laguna. Fish cage owners are the relatively better-off fisherfolk in the lakeshore communities who had the financial resources to construct one hectare of fish cage and pay the annual fee of P4,500. As fish cage ownership is limited to individuals and the fish cage area for every owner is limited to one hectare, the average annual resource rent enjoyed by each fish cage owner is just about P90,500.

Likewise, in sharp contrast with the huge resource rent enjoyed by fish pen owners, total resource rent from open fishing of P1,878 million is shared among 13,139 fisherfolk, which results in an annual resource rent of only P142,933 per fisher.

Data reveal that huge fishing resource rents generated from Laguna Lake benefit only a few fish pen operators from outside the lakeshore communities. This finding challenges resource administrators to come up with a system where resource rents from aquaculture can accrue to poor fishing households in the lakeshore communities. One way is to collect higher permit fees from large-scale fish pen owners and use the proceeds to provide fishing assistance to open fisherfolk and small-scale fish cage and pond operators in the lakeshore communities. Another way is to promote and facilitate the creation of cooperatives of poor fisherfolk for the operation of large-scale fish pens.

Dr. Rosalina Palanca-Tan is Professor of Economics at Ateneo de Manila University.

Ambassador Antonio L. Cabangon Chua Founder

Manipulation of facts and blatant disinformation

Birding…and waiting

wind, she always wondered where the bigger ones hid when the rains became strong.

came after them?

The column by Mr. Lito Gagni published in BusinessMir ror on September 26 contains a series of quotes from the Russian leadership defending their ongoing war of aggression against Ukraine and blaming others (“the West”) for its catastrophic consequences. In that regard, the Delegation of the european Union to the Philippines would like to set up the record straight on some of the many inaccuracies, manipulation of facts and blatant disinformation that appear in the text:

1. Russia’s unprovoked invasion of Ukraine and deliberate actions—de struction of Ukraine’s agricultural pro duction areas, farming and harvesting equipment, looting and plundering, blocking the trade routes, and laying mines in Black Sea ports, all well-doc umented—are provoking a global food crisis. Russia promised to provide safe sea corridors to grain shipments via Ukrainian ports but broke the agree ment less than 24 hours after signing it by launching an air attack on the port of Odesa; it is blocking hundreds of ships filled with wheat in the Black Sea. We would not have the food crisis had Russia not launched its full-scale aggression against Ukraine.

2. eU sanctions are directed against the Russian government, the financial sector and the economic elites, target ing the Kremlin’s ability to finance the military aggression. None of the eU sanctions (brought about by Russia’s war of aggression against Ukraine) targets the trade in agricultural and food products, including wheat and fertilizer, between third countries and Russia. If third countries wish to buy these products from Russia, no eU sanctions prohibit this.

3. The european Union is com mitted to avoiding any measures that might contribute to food insecurity around the globe, and is taking quick action to respond to the current food crisis in four fronts—stepping up emergency relief, boosting local food production systems, keeping the markets open and getting Ukrainian grain out of the country via alternative transportation routes, and working with partners to promote a multilat eral response to the current situation.

4. The UN deal to unblock some of Ukraine’s Black Sea ports is making a

Bintao

significant difference and, together with the eU Solidarity Lanes, led to price drop on the global markets. The UN grain deal allowed the export of 1.7 metric tons of grains and other agricultural products from Ukraine in August. These grains were exported to Africa, Asia and europe. The most common destinations have been: Turkey, the Republic of Korea, Iran, egypt and Sudan; two World Food Programme-charted vessels went to Djibouti and Yemen. The eU Solidar ity Lanes provide river, rail and land transport via eU—not to bring them to the eU, but to channel them via the eU to third countries. The grain export via Solidarity lanes has reached some 10 million tons—nonetheless, still significantly lower than before the Russian full-scale war against Ukraine.

5. The eU has decreased its imports of grain from Ukraine into the eU in 2022 in comparison to 2021. Wheat imported from Ukraine is either reexported or, if consumed internally, free space for additional exports of eU wheat to other third countries. In fact, the eU is an exporting powerhouse of cereals, and in particular of wheat. The eU has exported more grain in 2022 than in 2021. Between March and June 2022, the eU exported 14.2 million tons of cereals to third coun tries which is +1.3 million tons or + 10 percent compared to the same period of 2021. Despite a dry summer, the eU grain net exports are still expected to be higher than past trends, with around 8 million additional tons of wheat that could be exported in 20222023 compared to the year before. All this gives increased supply for third countries and alleviates the pressure on prices on the global markets. On the contrary, the Russian decision to ban Russian grain exports is another significant factor contributing to the scarcity and the rise of food prices globally.

6. Lastly, the eU is a leading hu manitarian and development donor in food security and is spearheading international efforts with the World Food Programme (WFP) and the UN Food and Agriculture Organization (FAO). The eU intends to mobilize over €7.7 billion until 2024 as im mediate humanitarian food and nu trition assistance and medium-term investments in food security and sustainable food systems. To address short-term needs, the eU is mobilis ing €620 million in immediate hu manitarian support in 2022 for its most vulnerable partners to ensure access to food and nutrition. The eU will help Ukraine to continue plant ing and growing cereals and oilseeds, and to bring them to global markets.

Dr. Ana Isabel Sanchez Ruiz Deputy Head, Delegation of the European Union to the Philippines

We could look up at the clouds, and take photos of the gray and the white, tag them according to the time the observation was done. Or, we could be like Kyo Maclear, in her book, Birds Art Life. A Year of Observa tion, and learn from birds the wisdom of waiting.

Maclear’s journey is her own—a sick father, a family, and a career that makes her ponder. We cannot follow her path but, it seems, what she saw of birds and the sky they have made their own, have more to teach us than merely flight and freedom. They have given us the consciousness of the perpetuation of seconds.

“To wait is to be close to nothing, to feel that closeness to nothing and to have confidence that it is more than that,” says Kyo Maclear.

It is one thing to be in rapt atten tion as you grab with your gaze the emptiness around crown of trees, hoping that you would be able to spot a little bird—and remember the yellow streaks on the breast or the song coming from the tiny mouth, as it is another matter when, in that solitude of inspection, inside your heart, a pain is reserved for someone deathly ill or suffering from untold sadness. These are the lessons of a book about birding, a tender trea tise on living.

It is easy to be with Maclear in this book: she is not the intrepid birder who travels to jungles and forests for vanishing species; she deals with the ordinary birds, the kind that lingers at the ledges of your home, or those easy to ignore. What is not easy is gaining confidence in waiting for that moment where a bird is seen.

Angara. . . continued from A14

detailed the numerous benefits of conserving heritage structures. For one, restoration projects boost em ployment as labor takes up 60 to 75 percent of the total project cost, while the remainder is allotted for mate rials. This finding is backed up by the United States General Services,

“The hardest adjustment for new birders is the waiting without itinerary or guaranteed outcome” is another line from this book about birds, art and life.” Maclear contin ues: “Most of us don’t have time for the malady of stillness. Life is too short for longueurs. The idea of sitting for hours on end, on rocks or bits of log, in the cold, for a bird, is the definition of lu nacy and stillness.”

however, birders have a different con cept of time, accord ing to the book. As people have different notions about living and dying.

Last year, about this time, amidst the lockdown, we became new bird ers. Or maybe earlier than last year. Some thing was different though last year: there was no hope yet the isolation was going to end. Then there was our loved one—a big sister, a mother, a teacher—who was close to leaving us forever. In September, she was still with us as we fed the tiny birds that vis ited our garden. When the birds did not come, she wondered where they went. While she knew the maya lived under the eaves of the home she cared for, noting the fragile (for us) nests that fell endlessly around us, carried by the stormy

which said that rehabilitation “cre ates two to five times as many jobs as new building construction.” In ad dition, preservation is environmen tally friendly as it uses less energy and generates less waste.

We commend the NhCP for their commitment to rehabilitate the heri tage sites damaged by the July 2022 earthquake and the DOT for acting with dispatch to extend assistance to affected stakeholders and tourism

By October, I noted a fragility in the way she walked to the porch. I wanted her to be moving. I prayed she would be strong enough to teach online again. I missed having her puttering about in the kitchen, as if the tasks were never ending. In earlier years, she would have made me feel lazy; that month in October, I just wanted her to breathe on, to wait for birds.

By November, she was gone.

The author says: “I had read some where that up to 50 percent of mi grating birds die on their journey.”

This is common among sons and fathers, uncles and brothers, male members of a clan: we always, to

In lines contemplative but not de tached, buoyant despite the sorrows lingering behind acute phrases, Kyo Maclear writes about the sentient ways of birding: “If you hope to see something, especially the notably elusive, you will learn to wait, like a devotee or a sanguine lover.” The writer goes on: “The goal in birding, you will discover, is to become as quiet and invisible as possible, and the easiest way to do this is to stay in one place, minimizing your wake of disturbance. When you stop with your fast movements… the birds may begin to respect you, by which I mean ignore you.”

Most propitious of all the thoughts Maclear has shared are these: “even though you will inevitably discover that not everything within the spectrum of human desire is instantly available to you, your patience may be rewarded. You will encounter the reluctant and wellhidden things. These things may be fleeting and fading and with out obvious ‘payoff,’ but you will discover that the realm of bird ing is also, sometimes, the realm of miracles.”

TELLTaLEs

IWIllnever get tired of writing about the hero of my province, Wenceslao Quinito Vinzons, of Indan (now renamed Vinzons), Camarines Norte. he’s a great Filipino whose patriotism, services to his country and extraordinary achievements despite his abbreviat ed life were unique and unsurpassed. he was born on September 28, 1910, exactly the same date as former President Diosdado P. Maca pagal’s natal day and the feast day of St. Wenceslao, 122 years ago but we have yet to see the likes of him blazing our firmament.

This distinguished Filipino is deemed as the best and the brightest product of his generation. he grew up during the most interesting time in our history—just 12 years after we regained independence from Spain and during our struggle against the new American colonizers. his political consciousness was awakened during the American colonial government and honed during the formative years of the Common wealth Regime when we were being trained for self-government. And to top it all, he experienced the crucible of war where he paid the ultimate sac rifice—his own life.

From birth, Bintao as he was called, had everything going for him.  his

grandfather came from Fujian, China and settled in Camarines Norte to pros pect for gold. At the same time, he ac quired vast landholdings that his son, Gavino, and Bintao’s father converted into huge coconut, abaca and rice planta tions. This made the Vinzons one of the largest hacienderos in the province. The family was also one of the most pros perous abaca and copra traders in the whole place. They owned a gold mining company that brought the family more wealth. eventually, the family settled in Indan, a small town adjacent to their business and large tract of lands. From childhood, Bintao displayed superior intellect. he was accelerated during his elementary and high school years and

graduated as class valedictorian in both levels. he was a voracious reader and a prolific writer even in high school. he edited the school paper and found time to publish a typewritten weekly magazine that he circulated in the community. he was the first to own a portable typewriter in his province. he attended college at UP in 1927. It was in UP where his intellect, leadership, writing, oratorical and debating skills were developed and blossomed. he was an accomplished author of several ar ticles published in national magazines and newspapers.  his oratorical piece entitled “Malaysia Irredenta,” which he wrote and delivered, copped the Quezon Gold Medal in the 1932 UP College of Law Oratorical contest.  he was a member, and later, the captain of the UP Debating Team that com peted and won against other local uni versities and visiting teams from the US.  his members eventually became a who’s who in national politics, like Sens. Arturo Tolentino, Ambrosio Pa dilla, estanislao Fernandez and Con gressmen hermenigildo Atienza and Antonio Raquiza. he was the editor of the Philippine Collegian, president of the UP Student Council, and the first president of the College editors Guild. he was the most dynamic activist and student leader during his term at the UP.  he led a student demonstration consisting of students from different colleges and universities in Manila in front of the old Congress Building in

Taft Avenue to denounce a surreptitious provision in the General Appropriations Act increasing the salaries of the mem bers of Congress. he founded the Young Philippines Party whose members in cluded Tolentino, Lorenzo Sumulong, Jose P. Laurel, Jr., Diosdado Macapagal, Ferdinand e. Marcos, Carmen Planas, Domocao Alonto and many others who became well-known figures after the war. Under his newly formed political party, he ran and won as the youngest delegate to the 1934 Constitutional Convention at the age of 23. In fact, his election was contested since he was definitely underage, as the minimum age qualification for the office was 25 years old. The Convention itself voted to confirm his election after hearing Bintao’s privilege speech defending his qualifications: “If age alone is my defect, it is a defect which time will cure.” he strongly opposed the martial law and emergency rule provisions in the pro posed 1935 Constitution, prophetically “warning that we must not give rise...to the control of government by a single strong man and the establishment of a virtual dictatorship.” We would have averted the proclamation of Martial Law in 1972 had his fellow delegates heeded Bintao’s prescience. As a del egate, he was the acknowledged leader of a group of young and liberal-minded delegates who called themselves the Convention Club and they published a paper called the Constitutionalists to inform the public of their activities

borrow the graciously keen words of Kyo Maclear, look at “the sight of a woman who is always on call, always in heightened state of watchfulness and awareness, momentarily check ing out—zoning into her own inter nal infinity.”

In those months of feeding birds and looking at them, waiting for their appearance, what did we learn? What did we know about afflictions that recurred, and the death that hastily

establishments. These efforts can easily be ramped up through private sector support, especially if they ex tend their helping hand to the relief and reconstruction of these sites and structures. And it is important that a unified effort is directed in this direction, as these structures form part of the country’s rich culture and heritage and, therefore should be pre served for future generations. The Unesco underscored that heritage

As with life and as with that stretch of moments when breathing leaves us all and our last glance is at the widening hori zon or, when at nigh time, the last in our human life, the sky, dark or starry, finally tells us the whole business of existence is wait ing, and waiting, and knowing that, at junctures, there are pit stops for love, remembrances, some joys, some guilt, surpluses of pains, knowledge, bits of regrets, tossed anger, loss of senses, transcendence—all for one to either choose, question or ignore. Or write about.

E-mail: titovaliente@yahoo.com

is “a valuable factor for empower ing local communities and enabling vulnerable groups to participate full in social and cultural life.”

Senator Sonny Angara has been in public ser vice for 18 years—9 years as Representative of the Lone District of Aurora, and 9 as Senator. He has authored and sponsored more than 250 laws. He is currently serving his second term in the Senate.

E-mail: sensonnyangara@yahoo.com| Face book, Twitter & Instagram: @sonnyangara

and works. Bintao championed many causes, which included the adoption of Tagalog as the basis of our national language and the grant of the right of suffrage to women. When Gen. emilio Aguinaldo fought Quezon for the presi dency in the Commonwealth elections in 1935, Bintao was his campaign man ager. Aguinaldo lost, except in his own province of Cavite and in Camarines Norte, Bintao’s province. After the elec tion, Bintao spoke at a rally in Kawit, Cavite where he accused Quezon and his party of alleged fraud. he was charged with sedition and was convicted and sentenced to four years imprisonment despite being represented by the great est criminal lawyer at that time, Vicente Francisco. he appealed and personally argued his case, and this time won an acquittal at the Court of Appeals. he ran for governor in 1940 and was elected as the youngest governor of the Phil ippines. Unable to get support for his projects from the congressman of his district, he ran against a Quezon can didate and won as the representative of his province in 1941. But war broke out and he failed to assume his seat.

Bintao proved to be a great warrior willing to lay down his life in defense of our country’s freedom. he organized the Vinzons Guerillas, the first orga nized resistance against the Japanese invaders. his troops ambushed the ad vancing Japanese forces on their way to establish a garrison in Daet. This was the first recorded armed skirmish

between the two forces during the war. Several raids and ambuscades that inflicted heavy casualties on the Japa nese troops followed this. For several days, his troops even liberated Daet from the Japanese. For this, Bintao and his resistance group became the most wanted armed resistance group by the enemy. More Japanese forces were sent to Bicol where Bintao’s forces operated. Finally, Bintao, his father, wife and two children were captured in an early dawn raid in his lair in Tulay-na-Lupa, Labo on July 8, 1942. he was asked to collabo rate with the enemy but he declined. In August 1942, he and his father and some other prisoners were boarded in a Japanese military truck to be brought to Fort Santiago in Manila but they were never heard from again. Up to now, their remains have not been found.

Bintao was the greatest hope of his generation.  he could have been the president of our country had his young life not been snuffed out by the Japa nese invaders during the darkest hours of the 2nd World War. People have scant memories of this great patriot. The so cial media can do a great deal to give him the recognition that he truly deserves. I wanted to write about him during the celebration of the National heroes’ Day but I decided to give him the singular honor by giving him a tribute on or near his birthday anniversary. Bintao lived a brief and fleeting life; he was dead at 31. As Dr. Seuss had said: “Don’t cry because it’s over, smile because it happened.”

Tito Genova Valiente annoTaTions

Manny F. Dooc

What happens in that moment before writing, when you are looking at the bright laptop screen, or gazing out of the doorway, into the yard, because there is nothing to write?

Ukraine war delaying shift away from coal-fired plants

By Cai U. Ordinario @caiordinario

ment of coal-fired power plants.

T he ETM, ADB said, utilizes public and private investments to finance country-specific ETM funds to retire coal power assets on an ear lier schedule than if they remained with their current owners.

T hese funds can come from gov ernments, multilateral banks, pri vate sector investors, philanthro pies, and long-term investors. The ETM, Asakawa said, is being piloted in the Philippines, Indonesia and Vietnam.

in the Philippines, a number of pri vate banks have also created their own ETMs to contribute to these efforts.

Dimalanta said that at least one energy project has availed itself of an ETM to retire one of the younger coalfired power plants in the country.

‘ADB VITAL PHL PARTNER FOR GREEN ECONOMY’

PRESIDENT Ferdinand “Bongbong” R. Marcos, Jr, said the Asian Devel opment Bank (ADB) will be a crucial partner of the govern ment in developing a “green, sustainable and climate-resil ient” economy.

M arcos made the remark during the 55th Annual Meet ing of the Board of Governors of ADB, which is currently being held in the country until Friday.

especially during the pandemic, when it granted the govern ment US$ 3 million to purchase medical supplies and its CARES Program.

Under CARES, ADB provid ed a “quick-disbursing budgetsupport facility to aid coun tries in mitigating the severe economic shocks caused by the pandemic.”

I n a speech ahead of the Inter national Monetary Fund (IMF)World Bank Group (WBG) An nual Meetings, World Bank Group President David Malpass said the war has made oil more expensive, which is also forcing many ad vanced countries to reopen coalfired power plants.

M alpass also noted an increase in coal mining in the past few months due to higher demand for coal as a source of energy.

Due to Russia’s invasion of Ukraine and limited and high-price, natural gas supplies, coal-fired power plants are seeing their clo sures postponed across the world. And coal mining has accelerated,” Malpass said in his speech.

The current environment is one

where there’s backsliding so the re opening of coal-fired power plants is going on and including, and espe cially in the advanced economies,” he also said in an interview at the Stanford Institute for Economic Policy Research (SIEPR).

M alpass said this is one of the challenges being addressed by the World Bank especially since many countries have already issued new permits to allow coal-fired power plants to operate.

I n a CNBC Debate at the Asian Development Bank (ADB) Annual Meetings, ADB President Masatsu gu Asakawa said the efforts to ad dress these challenges are being done through the Energy Transition Mechanism (ETM), a blended form of financing to fast-track the retire

The Asia Pacific region is ac countable for more than 50 per cent of greenhouse gas emissions globally. It consumes 80 percent of global coal and at the same time, it is also true that this region is one of the most vulnerable areas against natural disaster. Almost 70 percent of major natural disasters take place in this region every year. So our fight against climate change is more robust,” Asakawa said.

It is crucial, Asakawa said, to retire coal-fired power plants be cause if this is not done earlier, these plants can be in operation for decades to come, making it difficult to meet decarbonization targets.

I n the same forum, Energy Reg ulatory Commission (ERC) Chair person and Chief Executive Officer (CEO) Monalisa C. Dimalanta said

“ I think all of these initiatives are welcome,” Dimalanta said. “It (ETM) is going to be a very wel come initiative to address high prices (of electricity) that we are experiencing similar to other parts of the world.”

Reservations

CIVIL Society Organizations (CSOs), meanwhile, decried ADB’s efforts to finance fossil gas. While the bank has declared that it no longer intends to finance coalfired power plants, the bank has increased financing for fossil gas.

T he CSOs said ADB has spent over $4.7 billion on gas since the adoption of the Paris Agreement. Its gas finance accounts for over 96 percent of its fossil fuel financing from 2016-2020.

T hey added that ADB’s financ ing of fossil fuel projects has been in the form of loans, which could exacerbate the debt burden of ADB’s developing member countries.

“ I believe that at the heart of this goal is the way that we must develop an economy that is green, that is sustainable, truly climate-resilient and re sponsive to people’s immediate needs,” Marcos said.

“ It is an economy that takes into account the ecosystem from which we harness our re sources,” he added.

M arcos said he is eyeing more support from the ADB to realize such goals to make the country’s economy better than it was before the pandemic.

I n May, ADB approved a US$250-million “policy-based loan” to help the country cope with the effects of climate change.

M arcos assured his adminis tration’s use of the funding will be “efficient and effective.”

T he President said ADB has been a consistent partner of the country in its initiatives

House panels to hold hearings on key econ bills in 5-week recess

By Jovee Marie N. dela Cruz @joveemarie

THE House of Representatives has instructed all standing and special committees to hold hearings on pending measures, particularly economic bills, during congressional break.

I n her formal motion in the plenary, House Deputy Majority Leader and Iloilo Rep. Janette Ga rin moved to allow all panels to continue with their mandate of producing vital pieces of legislation during the first recess of the 19th Congress.

I move that we authorize all committees to conduct meetings and/or public hearings, if deemed necessary, during the House recess from September 29, 2022 to No vember 6, 2022,” Garin said.

“ Is there any objection? The chair hears none, motion is ap proved,” House Deputy Speaker and Pampanga Rep. Aurelio “Dong” Gonzales responded in granting Garin’s motion.

Garin said Speaker Romualdez and House Majority Leader and Zamboanga City Rep. Manuel Jose Dalipe instructed House leaders to hold committee meetings during the break to ensure the expedi tious passage of noteworthy and meaningful legislative measures, particularly those aimed at reviv ing the economy.

“ The continuous hearings and deliberations of various mea sures even when Congress is in recess will help accelerate the passage of priority legislations,” she said.

Garin assured the public that the House leadership will continue to work hard and focus on shepherd ing the priority legislation of the Marcos administration to address and serve people’s needs in these difficult times.

The Speaker wants to ensure a very productive House of Rep

resentatives during our break to address the country’s pressing concerns. This will help us craft and put into fruition the approval of priority bills of President Mar cos to help us defeat various prob lems, including Covid-19,” Garin said.

Accomplishment

SPEAKER Romualdez on Wednes day night took pride in the record accomplishments of the House of Representatives in the first 23 session days of the 19th Congress, which convened last July 25.

B efore adjournment, the House approved on second and third and final reading the proposed P5.268trillion “Agenda for Prosperity” 2023 national budget, the most important legislative proposal Con gress tackles every year.

T he House also ratified two bicameral conference committee (bicam) reports—those on the pro posed Subscriber Identity Module (SIM) Registration Act and the postponement of the December 2022 Barangay and Sangguniang Kabataan elections (BSKE) to last Monday of October 2023. These two will soon be transmitted to Malacañang for President Marcos’s signature.

A side from the budget bill and the two bicameral reports, com parative data from the House Committee on Rules showed that the House of Representatives passed on third reading 37 nation al bills, a 106-percent increase over the 18 measures approved on final reading by the 18th Congress and 517 percent higher than six measures approved on third read ing in the 17th Congress over the same period.

T he House processed a total of 427 measures, 96 percent more than the 218 tackled by the 18th Congress and 104 percent higher than the 209 measures discussed in the 17th Congress.

“ It is through the Bank’s as sistance that we were able to push forward with projects in areas such as infrastructure, so cial reform and community de velopment, and governance and institutions development—all of which are consistent with this administration’s 8-point Socioeconomic Agenda,” Mar cos said.

P rior to his speech, Marcos received the gratitude of Sri Lankan President Ranil Wick remisinghe for taking over the responsibility of hosting the ADB meeting.

T he event was supposed to be held in Sri Lanka, but Wick remisinghe said the “instability” in their country due to the pan demic and political upheavals prevented them from doing so.

“ So I must first thank Presi dent Marcos for taking all the responsibility [of hosting the ADB event] at a very short no tice,” Wickremisinghe said.

Samuel P. Medenilla

Blue Ribbon winding up inquiry into laptops–‘Tol’

THE Senate Blue Ribbon Com mittee said it is readying to wind up its investigation into alleged anomalies in the laptop pro curement deal of the Department of Education (DepEd) for teachers’ distance learning program.

S en. Francis N. Tolentino, pre siding at the continuation of the hearing Thursday, said, “We are about to end but we are still trying to get some facts relative to this investigation.”

He summarized the series of events and established the facts that occurred in three past Blue Ribbon hearings.

A t Thursday’s hearing, Senate Minority Leader Aquilino “Koko” Pimentel III raised the supposed inconsistencies of DepEd officials in explaining the memorandum of agreement (MOA) governing the agency’s procurement of allegedly overpriced and outdated laptops through the Department of Budget and Management’s Procurement Service (PS-DBM).

P imentel quizzed DepEd Un dersecretary for Finance Annalyn Sevilla, who, under questioning by Senate probers, told senators she was informed about the three draft MOAs being discussed with the PSDBM for the P2.4-billion laptop purchase as of April 29, 2021.

I n a sworn affidavit submitted to the Senate panel, however, the latter referred to a February 16, 2021 notarized MOA as the basis of their procurement.

S evilla said she has yet to be given copies of the drafts men tioned by committee witness and DepEd Procurement Management Service director Marcelo Bragado Jr., adding that she was not part of the transactions.

S he clarified that even as nego tiations were ongoing, a 2017 MOA governing all of DepEd’s procure ments through the PS-DBM would still have covered the laptop pur chase.

THE

Russian invasion of Ukraine is causing a “backsliding” in the world’s efforts to cut emissions as the war is delaying the retirement of coal-fired power plants globally, according to the World Bank.

Arbitration rules for settling intra-corporate tiffs issued

By VG Cabuag @villygc

The guidelines define arbitration as a voluntary dispute resolution process in which one or more arbitrators, appointed by the parties’ designated independent third party or in accordance with the rules, resolve a dispute by rendering an award.

A domestic corporation may provide an arbitration agreement in its articles of incorporation or bylaws, as well as in the form of a separate agreement.

arbitration shall still proceed under RA 9285, or the Alternative Dispute Resolution Act of 2004.

Cebu Landmasters reports brisk sales of Palawan project

The agency issued SEC Memorandum Circular No. 8, Series of 2022, which provides for the Guidelines on Arbitration of Intra-Corporate Disputes for Corporations.

The guidelines operationalize Section 181 of Republic Act (RA) 11232, or the Revised Corporation Code of the Philippines (RCC), which states that an arbitration agreement may be provided in the

articles of incorporation or bylaws of a corporation.

The guidelines provide for the minimum provisions of the arbitration agreement that a corporation may execute, the place of arbitration if not specified in the arbitration agreement, the procedure for the appointment of arbitrators, the composition and powers of the arbitral tribunal, and disclosure requirements, among others.

An arbitration agreement must state the number of arbitrators; the designated independent third party who shall appoint the arbitrator/s; procedure for the appointment of the arbitrator/s; and the period within which the arbitrator/s should be appointed by the designated independent third party.

Arbitration agreements that do not comply with such requirements shall be unenforceable, although

When such an agreement is in place, disputes between the corporation, its stockholders or members, which arise from the implementation of the articles of incorporation and bylaws, or from intra-corporate relations shall be referred to arbitration. However, disputes that involve criminal offenses and interests of third parties shall be excluded from arbitration.

When an intra-corporate dispute is filed with a regional trial court despite the adoption of an arbitration agreement in the corporation’s articles of incorporation, bylaws or in a separate agreement, the court shall act in accordance with the rules of procedure that the Supreme Court may promulgate to implement Section 181 of the RCC.

ACEN sets sights on 60MW solar farm

By Lenie Lectura @llectura

ACEN Corp. said it is seeking board approval to acquire Sinocalan Solar Power Corp., which is developing a solar power farm in Pangasinan.

The listed energy platform of the Ayala group disclosed Thursday its planned investment in a 60MW solar plant in Pangasinan through the acquisition of Sinocalan Solar Power, the project’s special purpose vehicle.

Also, ACEN executed a Technical Services Agreement with Sungrow Power Renewables Corp. It gave no

other details except that the agreements are still subject to agreed conditions precedent and applicable regulatory approvals.

When sought for comment, ACEN President Eric Francia said the company is acquiring “100 percent” of Sinocalan from “a joint venture between Sungrow and its Filipino partners.”

The Department of Energy (DOE) earlier issued a certificate of endorsement to Sinocalan Solar Power’s solar project. The issuance of the certificate meant that the proposed project would be endorsed to the National

Grid Corporation of the Philippines (NGCP) for clearance to undertake a system impact study (SIS).

In the same disclosure, ACEN said the board approved the funding for its renewable project in Australia.

ACEN is the guarantor to ACEN Australia Pty Ltd.’s AUD800-million long-term revolving green loan facility with DBS Bank Ltd.’s Australia branch. The loan will be used for the construction of the 520MW Stubbo Solar Farm Project in Australia.

ACEN also said the board gave its go-ahead for ACEN Australia,

and its subsidiaries, to enter into a PV module supply agreement for the project.

The company has lined up 18gigawatts (GW) of projects to be built across the region. At present, it has about 4,000 MW of attributable capacity in the Philippines, Vietnam, Indonesia, India and Australia.

The board also approved ACEN’s investment in and construction of the 300MW Giga Ace 8 Solar Power Project of Giga Ace 8, Inc. in Palauig, Zambales, and the funding of the 208 MW NAREDCO Solar Power Plant Project in La-lo, Cagayan.

CEBU Landmasters Inc. (CLI) on Thursday said it sold in less than one week some 85 percent of the first phase of an economic housing project in Puerto Princesa, Palawan.

The first two towers with 480 units of the P3 billion seven-tower Casa Mira Towers Palawan generated reservation sales of P1.2 billion, the company said.

This brings CLI’s total 2022 reservation sales to P13.5 billion to date.

Projected gross revenues from this 7-tower development is pegged at P6 billion, with phase one set for completion in the fourth quarter of 2025.

“This shows that there is indeed a broader market for our bestselling housing brand Casa Mira beyond VisMin (Visayas and Mindanao), and that our company Cebu Landmasters is gaining traction beyond our regions of focus,” CLI Chairman and CEO Jose Soberano III said.

Soberano said Casa Mira Tower Palawan buyers were not only locals, but also overseas Filipino workers and professionals from neighboring localities who want to invest in Palawan.

“This is a strong indicator of

important factors that appeal to investors, the development’s value proposition of giving more and its location being close to tourism sites in Palawan.”

Located in a 2.09-hectare property, Casa Mira Towers Palawan offers 20 square-meter studio units and one-bedroom units up to 32 square meters in 7 mid-rise towers. It will be operated by CLI Property Management to ensure security and efficient services.

Casa Mira Towers Palawan will be the 15th community to carry the brand which includes vertical and horizontal developments. There are close to 18,000 Casa Mira units throughout key cities in Visayas and Mindanao.

The company said Casa Mira communities offer residents swimming pools, clubhouses and other amenities usually associated with developments with higher price points. Casa

Mira Palawan’s total contract price is from P2.3 to P5 million.

“The very high sales take up of Casa Mira Towers Palawan clearly shows that there’s a lot of opportunities in Palawan and we’re looking at how we can further serve the markets in the area,” Soberano said. VG Cabuag

ABOITIZ Equity Ventures Inc. (AEV) has reshuffled its chief financial officers (CFO), swapping the officials from the holding firm and its bank.

AEV’s Senior Vice President and CEO Manuel R. Lozano and Union Bank of the Philippines (UBP) Senior Executive Vice President, Treasurer and head of global markets Jose Emmanuel U. Hilado will be trading roles effective January 1 next year.

Lozano will be the executive vice president and CFO of UnionBank while Hilado will be the senior vice president, CFO and corporate information officer of AEV.

UnionBank recently hired a new treasurer and global markets head to replace incumbent Hilado beginning October 1.

Hilado will then assume the role of UBP’s CFO until December 31, after which he will transfer to AEV. He will oversee AEV’s treasury; tax advisory and compliance services; finance, accounting and business support; investor relations; legal and compliance.

There may be some more adjustments at the appropriate time, AEV said. VG Cabuag

THE Philippine Economic Zone Authority (PEZA) has inked an agreement with Upgrade Energy Philippines Inc. (UGEP) for the development of solar energy projects within the Cavite Economic Zone (CEZ) and Baguio City Economic Zone (BCEZ).

PEZA said it signed a Memorandum of Understanding (MOU) with UGEP last September 22.

For the first phase of the said partnership, UGEP intends to develop and implement the projects including 10 megawatt (MW) each at CEZ and BCEZ.

Under the MOU, UGEP will conduct feasibility studies in CEZ and BCEZ to determine the viability of the first phase projects prior to its implementation.

PEZA also said the MOU allows UGEP to generate and sell solar power to the end consumers in the zones through the designated distribution utilities inside the ecozones.

The investment promotion agency said it will provide the necessary assistance needed by UGEP for the

conduct of the studies, in identification of the land areas within the zones suitable for the project, and in the registration of the solar photovoltaics (SPVs) under PEZA pursuant to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law and the Renewable Energy Act of 2008.

“PEZA welcomes partnerships like this which promote the goal of environment-friendly industrialization,” said PEZA Officer-in-Charge and Deputy Director General for Policy and Planning Tereso Panga.

“Promoting the use renewable energy [RE] are extremely paramount in our country so we can save billions of pesos in energy and electricity consumptions, generate more jobs and at the same time, reduce our country’s share of carbon emissions, therefore, fighting the adverse effects of the global climate change.”

He said the use of RE will contribute to the country’s overall efforts “to attaining our pledge to move ahead with urgency and cut greenhouse gas

emissions through localized climate change interventions and transition from coal to clean energy.”

According to the agency, PEZA and UGEP’s partnership will remain in effect for three years.

As for classification under the new Strategic Investments Priorities Plan (SIPP), PEZA said RE projects and activities are eligible for incentives under the Tier II Classification-Green Ecosystems.

Meanwhile, Panga said the agency has produced a “foresight paper” titled “New Frontiers in Ecozone Development: Aqua-Marine and Renewable Energy Parks.”

He said the ecozone model, which is a “major departure” from the conventional land-based ecozones for the past 50 years, aims to put the Philippines among the pioneering economies in the region that will venture into aqua-marine parks integrated with mariculture or marine farming, ocean energy/ RE generation, hydrogen/oxygen production and marine eco-system regeneration. Andrea E. San Juan

The Securities and exchange Commission (SeC) has issued guidelines that will allow firms to resolve intra-corporate disputes through arbitration.

Give Pinoys easier time paying taxes, solon to NG

By Butch Fernandez @butchfBM

Banking&Finance

DOF, BIR asked to make rules for tax perks for BPO firms simpler, clearer

By Jovee Marie N. dela Cruz @joveemarie

SENATOR

Sherwin T. Gatchalian goaded the Marcos government last Thursday to grant taxpayers easier time by adopting an “effective and expedient” tax system that will encourage taxpayers to “pay their taxes truthfully and timely.”

Apart from granting taxpayers the option of filing their returns and paying taxes due through electronic means, Gatchalian said government could also “allow the payment of taxes to any AAB (authorized agent bank); and not only limited to AABs in the revenue district office where the taxpayer is registered.”

“For the benefit of our taxpayers, we need to simplify the process of paying taxes as we endeavor to enhance tax compliance and strengthen taxpayer’s rights,” the senator said after filing Senate Bill (SB) 1346 seeking to “introduce administrative tax reforms by amending certain provisions of the National Internal Revenue Code of 1997.”

Gatchalian, chairman of the Senate Ways and Means Committee, also proposes to remove the option to pay internal revenue taxes to a city or municipal treasurer with jurisdiction over the taxpayer. He also recommends allowing the adjustment of the VAT-exemption threshold based on the Consumer Price Index (CPI) not later than January 1, 2023, and every three years thereafter. He also proposes ensuring the availability of registration facilities to taxpayers not residing in the country.

According to Gatchalian, the proposed bill, once enacted into law, will not only give a premium to taxpayers’ welfare but also guarantee sustained revenue growth for the country.

Our bill seeks to modernize tax administration and establish mechanisms so that we can further improve and make tax collection more effective, he said in Filipino. We hope that these measures will further encourage our taxpayers to do their duty to pay proper taxes, he added.

Gatchalian earlier filed a separate bill (SB 1199) that paves the way for the creation of the Taxpayer’s Bill of Rights and Obligations Act. SB 1199 aims to empower taxpayers by educating them on their basic rights and obligations.

He added that SB 1199 also seeks the creation of the Office of the Taxpayer Advocate that would take the cudgels for taxpayers by ensuring that their rights are safeguarded.

In his letter to Finance Secretary Benjamin E. Diokno last September 25, Salceda asked for simpler and clearer rules “in view of the impending shift to the [BOI] by many new and existing BPO [firms].”

Under the Corporate Recovery and Tax Incentives for Enterprises (Create) law, or Republic Act (RA) 11534, all Investment Promotion Agencies (IPAs) now have the same incentives to offer to investors and locators.

Registering under an IPA like the BOI, BPOs, according to the Create law, can avail of enhanced deductions on power costs, labor costs, training expenses and research and development, instead of the 5-percent special corporate income tax rate.

Salceda said some BPO firms “might actually pay even less tax as a result.”

“But we also get more benefits out of their spending on research, training and others,” the lawmaker said

through a statement. “But, for BPOs to benefit from such incentives, the BIR has to make the rules simpler and clearer. Otherwise, there’s going to be plenty of room for negotiation and possibly corruption,” Salceda added. “Foreign BPOs in particular are spooked by that.”

Recommendations

SALCEDA’S letter to Diokno, copies of which were furnished reporter, also contained a recommendation that revenue issuances be released with some elements.

These elements include the definition and examples of allowable deductions for training and research and development. Other elements that Salceda cited include: simplified and online uploading system of documentary requirements for enhanced deductions; guidelines for automatic approval of enhanced deductions, in the direction of a more risk-based approach to validating self-declarations; and, remedies in the event of disallowance of requested deductions.

BSP urged to stop changing design of PHL legal tenders

“As you know, the crediting of such deductions will help the BPO sector up-skill towards higher-value processes and services, to wean the Philippines off of voice services, which are expected to be a sunset sector within the BPO industry,” said Salceda. The lawmaker said he also asked the Bureau of Internal Revenue (BIR) ensure that the proper tax rate is imposed on BPO firms.

Salceda said those availing of enhanced deductions will be subject to either 25-percent or 20-percent corporate income tax (CIT) rate, depending on their size and income. He, however, hopes small-scale and medium-scale BPO firms would not experience over-assessment or the imposition of higher rates.

More crucial

THE lawmaker told Diokno in his letter that a significant number of BPO companies are low-asset corporations with total assets of less than P100 million and total net income of less than P5 million.

“These tend to be small, provincial BPO companies. As such, they will

fall under the 20-percent CIT rate, rather than 25 percent,” Salceda said in his letter. “I sincerely hope that the BIR will ensure that measures are taken so that undue assessments are not made against such corporations by BIR officers.”

The lawmaker said that “places like Albay have much smaller BPO [firms] that are sometimes even family-run. So, I hope the BIR will be fair to them and impose the right tax rate: nothing more, nothing less.”

Salceda said that easy and clear tax compliance for BPO firms will help preserve the BPO boom the economy is enjoying.

The BPO sector, represented by IT and Business Process Association of the Philippines (IBPAP) President Jack Madrid said last Wednesday that the industry expects to grow annually by 8 percent in the next six years.

“The BPO sector is more crucial now than ever, as we need more foreign currency earnings to offset the effects of a very strong dollar on the peso,” Salceda said. “Easy and fair tax compliance is the least we can do.”

LandBank, DAR execs approve IRR on moratorium on debt payment

reached a consensus to prod monetary authorities to stop the frequent changes in the design of Philippine bank notes, even while a legislative inquiry on the matter is ongoing.

SENATORS

Before adjourning last September 28 for a 5-week recess that ends November 5, senators led by Senate President Juan Miguel F. Zubiri said the chamber will craft a “sense of the Senate resolution” echoing the concerns raised by Minority Leader Aquilino “Koko” Pimentel III over what he deemed serious implications of a recent decision by the Bangko Sentral ng Pilipinas (BSP) to change, once again, the design of 1,000-peso bank notes and reduce the use of abaca as material of bank notes in favor of polymer or plastic.

In Wednesday’s plenary session, Pimentel delivered a privilege speech questioning the BSP for using polymer in the new 1,000peso bill replacing the old bank note, which is made of 80-percent cotton and 20-percent abaca (Manila hemp).

Pimentel stressed that the Manila hemp fiber is known for its durability, flexibility, and resistance to salt water.

“Abaca is so much part of our history and Filipino identity. The shift to polymer will be detrimental to the country’s abaca industry, especially the country’s income from the export of abaca fibers and manufac-

tures amounting to $97.1 million per year,” Pimentel said.

According to the Federation of Free Farmers, the BSP’s decision to discontinue the use of abaca in making the 1,000-peso bill has reduced the market for the product and lessened the income of the 200,000 abaca-making families in 56 provinces in the country.

During deliberations after Pimentel’s speech, Zubiri said he takes interest in the matter because, besides the country’s abaca capital of Catanduanes province, his native Bukidnon also produces abaca.

Sen. Pia S. Cayetano, for her part, noted that the Central Bank, in justifying the shift from abaca to plastic, had touted the “sustainability” of such a move by citing studies that the plastic notes last longer than the abaca-based notes.

However, Cayetano said, that sustainability is defeated by the decision’s failure to satisfy SDG Goal 8, on providing adequate jobs and livelihood. That decision to shift to plastic hurts Filipino farmers of abaca, of which the Philippines is the second largest producer in the world.

Zubiri also recalled the issues raised against the use of polymer: the plastic money cannot be folded, even though Filipinos have always, by practice, been folding their bills; and, the need to put the polymer notes in “bigger wallets” among others. Butch Fernandez

Out of sight, out of mind: A no-no for associations

AS I was thinking about what to write for this week’s column, I chanced upon a short article entitled “People Forget” from “Our Daily Bread,” a 365-day devotional booklet I read first thing in the morning. It tells the story of a churchgoer who curiously asked the priest why he repeats his sermon from time to time, to which the pastor replied, “People forget.”

Interestingly, when I started to write this piece along this storyline, I remember a personal experience after I retired a year back. As a retiree, I was expecting I would receive news or updates from my former work colleagues. It did not happen and so I told myself, “Out of sight, out of mind.”

The phrase “out of sight, out of mind” simply means it is easy to forget or dismiss someone or something when you have not seen the person or thing for some time. This expression, if applied to an association in the context of its relationship with its members, would be disastrous to the organization.

On the contrary, an association needs to constantly think of, engage with, and serve its members. It cannot afford to ig-

nore them just because they are out of sight. From the perspective of members, forgetting means the association does not care for them, a big reason members do not renew.

So how can an association always keep members in mind? Here are three suggestions:

n Don’t forget your members are people whom you can relate to and ask to engage with. Despite advances in technology, an association need not lose sight on the human side of membership.

Sending personal messages; conducting surveys, focus groups, or one-onone member interviews; spotlighting members and showcasing their work; providing volunteering opportunities; and, hosting casual, virtual get-togethers for members, e.g., themed networking, “happy hour” and virtual roundtable, are some of the ways an association can convey that it remembers its members and vice versa.

n Open a two-way communication. Members want to feel they can provide feedback to their association.

From the association side, it’s one

way it can validate it is being heard by its members. You’ll have a better chance of retaining your members if they feel comfortable going to your association for help or advice, as opposed to being neglected and forgotten.

n Create a membership calendar. A monthly membership calendar is a useful tool, particularly if you have a dedicated community set up for your members. It keeps members abreast of new developments in the association and gives them things to look forward to in the months ahead.

When members feel outside of your community, when they don’t know what’s going on, or they’ve lost touch with why they joined the association in the first place, that’s when you start to see members opting out of membership.

An association cannot bear to lose sight and forget its members just because they are not visible and active. So the expression, “out of sight, out of mind” is a big no-no for associations.

Octavio Peralta is currently the executive director of the Global Compact Network Philippines and founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” PCAAE is holding its Associations Summit 10 (AS10) on November 23 and 24, 2022. E-mail: bobby@pcaae.org.

By Jasper Emmanuel Y. Arcalas @jearcalas & Jonathan L. Mayuga @jonlmayuga

EXECUTIVES

of the Land Bank of the Philippines (LandBank) and the Department of Agrarian Reform (DAR) signed last Thursday the implementing rules and regulations (IRR) for the debt moratorium on the payment of land amortization and interests incurred by agrarian reform beneficiaries (ARBs).

LandBank’s statement read a Joint Administrative Order (JAO) outlined the IRR for Executive Order (EO) 4 by President Ferdinand R. Marcos Jr.

Signed by the President last September 13, the EO (“Directing the Implementation of a Moratorium on the Payment of the Principal Obligation and Interest of the Amortization Due and Payable by Agrarian Reform Beneficiaries”) calls for a 1-year moratorium on loan payments of ARBs. The latter received agricultural land under the Comprehensive Agrarian Reform Program (Carp), or Republic Act (RA) 6657.

The JAO was signed by LandBank President and CEO Cecila C. Borromeo and DAR Secretary Conrado M. Estrella III. The JAO stipulated that the one-year moratorium covers the payment of the principal value and the annual interest due and payable by the ARBs.

“The moratorium period will provide the needed time for Congress to pass the law condoning the existing agrarian reform loans for the current ARBs and free land distribution for future beneficiaries,” Estrella was quoted in a statement as saying.

The LandBank said the current debt moratorium covers the financial obligation to pay the total cost of the land under Presidential Decree 27, including interest at the rate of 6 percent per annum as provided under Section 6 of EO 228. The moratorium also covers the financial obligation to pay the principal value including the 6-percent annual interest of the 30-year land amortization of the ARBs under Section 26 of RA 6657, as amended.

Historic initiative

BORROMEO was quoted in the statement as saying “this historic initiative…is now taking off.”

She added the state-run lender “will provide immediate financial relief to ARBs nationwide and yield positive results towards ensuring food security in the country.”

The LandBank serves as the collection agent of the National Government for land amortizations from ARBs, pursuant to its mandate as the financial intermediary of the RA 6657. All collections are remitted by the Bank to the Bureau of the Treasury (BTr) as part of the revenue of the National Government.

The LandBank said the JAO covers the identification of beneficiaries qualified to avail of the 1-year payment suspension, “with the impact of the initiative to enhance the productivity and profitability of the ARBs duly documented and promoted.”

The lender added that EO 4 directed the Landbank and the DAR to jointly submit to the Office of the President, through the Office of the Executive Secretary, a comprehensive report on the implementation of the EO, including data on the number of ARBs actually covered and impact of the moratorium, among others.

Noru-hit constituents

Social Security System (SSS) announced last Thursday it will open two financial assistance lines to members and pensioners in areas affected by Supertyphoon Karding (international name: Noru).

THE

SSS President and CEO Michael G. Regino said these programs are the Calamity Loan Assistance Program (Clap) for members and the 3-month advance pension (Tmap) for SS and

Employees’ Compensation (EC) pensioners.

Under the Clap, members may avail of a loan equivalent to the average of their last 12-monthly salary credit or the amount they applied for, whichever is lower.

For the Tmap, the proceeds will be based on the amount of the pensioner’s monthly pension.

Regino said the programs would be offered to members and pensioners in areas to be

declared under a state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC).

The SSS chief added they are finalizing the guidelines for these programs, which would be released through the agency’s website and social media channels once available. Applications for the CLAP will be coursed through the My.SSS Portal of the SSS web site.

WITH firms in the business process outsourcing (BPO) industry shifting registration to the Board of Investments (BOI), Rep. Joey Sarte Salceda urges finance sector regulators to make rules for tax perks simpler and clearer.

This photo courtesy of the Land Bank of the Philippines shows LandBank President and CEO Cecilia C. Borromeo and Agrarian Reform secretary Conrado M. Estrella iii holding the signed implementing rules and regulations for Executive Order 4 (series of 2022).

Photo courtesy of the Land Bank of the PhiL PPines

Octavio Peralta

Association World

Relationships

Two wrongs trying to make a right

PHOTO BY ETHAN SYKES ON UNSPLASH

By Steven J. Hyde & Meghan Thornton-Lugo  Boise State University University of Akron

MAJOR League Baseball has been trying something new in recent seasons: instant replay for umpire calls. After replay review, some erroneous calls on the field can be overturned. Baseball in its own fashion is acknowledging what sports fans have always known—officials make mistakes.

The most notable manifestation of this tendency is the all-too-common bad call and its companion, the makeup call. When an umpire makes a bad call, the only way they could presumably restore balance to the game is to make an additional bad call, but this time in favor of the wronged team. For example, an umpire may incorrectly call a “strike” on a pitch that was clearly outside the strike zone, only to make up for the error later by calling a “ball” on a pitch that clearly caught the edge of the strike zone.

Instant replay isn’t perfect and isn’t used in every situation, which leaves room for umpires to make bad calls and subsequent makeup calls. Beyond sports, there are lots of other ambiguous situations in everyday life where people try to make up for errors in judgment with makeup calls meant to restore the balance.

We are organizational scientists who are interested in how makeup calls operate. With our colleagues, we explored this question in research recently published in the Journal of Applied Psychology.

SeTTing THingS rigHT once MiSTakeS are Made

EXAMINING MLB playoff data from 2008-2014, we found that bad calls increased the likelihood of makeup calls. That is, when an umpire made an objectively erroneous call, it increased the chances of subsequent calls in favor of the team that was harmed.

For instance, when bad calls were made against pitchers, umpires were then more likely to call strikes. We also found that umpires became less likely to call strikes on a batter if they’d made bad calls against the batter’s teammates. But as the stakes increased—meaning the call had greater importance to the overall outcome of the game—makeup calls became less likely. Makeup calls seemed to be aimed at righting prior wrongs and correcting for some level of unfairness, but not so much that they would have an impact on which team actually won or lost.

Makeup caLLS in THe pSycHoLogy LaB

TO investigate whether this tendency toward the

makeup call extends beyond Major League Baseball, we invited undergraduate volunteers into our lab. We paired them off and gave them a set of jars each containing random objects like bolts, screws and so on. One student was the decision-maker and guessed if the number of objects in the jar was greater or less than 300. The second student was the judge and evaluated the other student’s decision based on their own estimation. The decision-maker received raffle tickets each time the judge sided with them, and judges received raffle tickets when they were correct in their evaluation of the decision-maker.

When judges received feedback that they had erred in their evaluation, they were more likely to make subsequent calls in favor of the decision-makers. Just as we saw in the big leagues, as the stakes increased— in this case, the odds of winning the raffle got better with each ticket awarded—makeup calls decreased. However, as the number of people affected by the bad call rose, so did the likelihood of makeup calls.

We also identified the critical role that guilt plays in makeup calls. Those who made a bad call reported feeling more guilty in a survey and then sought to rectify their mistake by issuing a makeup call. Hence,

Telco giant provides typhoon relief

THE Globe Group immediately mobilized to gather support for families affected by Supertyphoon “Karding,” which crossed Luzon Sunday with heavy rains and destructive winds.

The telco giant informed customers that they may donate their rewards for as low as 1 point to their chosen beneficiary organizations which will deliver life-saving aid to typhoon victims. Those with unused data may also convert their GBs to points they can donate to their chosen charity.

To donate, go to the New GlobeOne app, tap “Redeem Rewards,” tap on “Donations” and choose the partner organization where you would like to donate: ABSCBN Foundation, Ayala Foundation, GMA

Kapuso Foundation, Rise Against Hunger Philippines, and Tzu Chi Foundation.

“We call on our customers to extend a helping hand to families affected by Supertyphoon Karding. We have made it convenient for them to send help by donating their Rewards points via the GlobeOne app,” said Jerome Patalud, head of Globe Rewards.

GCash, meanwhile, also activated their donation platform, #GCashGives Back, where users may donate via the Pay Bills function on the GCash app. They simply have to tap Pay Bills, choose “Others,” and choose #GCashGivesBack.

Proceeds will be sent to partner organizations ABS-CBN Lingkod Kapamilya,

those who experience more guilt were more likely to issue make-up calls.

Bad caLLS wiTH Bigger STakeS

AS when we focused on MLB umpires, our lab study relied on a game-ified context. To determine if what we saw translated to the real world, we examined the judgments of financial analysts. We looked at their recommendations about which companies’ stocks, in their judgment, should be bought or sold. And we looked at their earnings forecasts that predict how they think individual stocks will perform.

When a firm performs worse than the analysts expected, or missed their earning expectation, the firm’s stock declines. In this way, analysts who are overly optimistic about a firm and provide an inflated earnings forecast may unintentionally harm a firm.

In response to an extreme earnings miss— meaning the firm performance was 50 pecent or more worse than the analyst’s expectation—analysts can either devalue the company, resulting in a downgrade, or double down on their optimism and provide an continued on B5

Ayala Foundation, Caritas Manila, GMA Kapuso Foundation Inc., Philippine Red Cross, Save the Children, Unicef, and World Vision.

For postpaid users of Globe Mobile and Globe At Home, customers impacted by the typhoon will be granted a hold credit action, which defers any disconnection within a period of time in case of unpaid dues. Globe Postpaid Mobile will extend due dates by seven days, while Globe At Home postpaid users will implement bill dues extension up to 14 days in areas placed under Signal No. 4 and 5, depending on the severity of the storm’s impact.

Meanwhile, telehealth app KonsultaMD will provide a one-month free health

plan to residents in affected areas, with unlimited redemptions until the end of October. To consult with a doctor for free, just download the KonsultaMD app via use.konsulta.md/karding and use the code LIBRENGKONSULTA.

They may also call 7798-8000 and mention the code to avail of the free plan.

Those in need of mental health support may also avail of a free support session with a mental health professional by using the code HEREFORU.

The company also deployed Libreng Tawag, Libreng Charging, and Libreng WiFi services in affected areas.

More information is available at www. globe.com.ph.

Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Lyric Ross, 19; Katrina Law, 37; Lacey Chabert, 40; Jenna Elfman, 51.

HAPPY BIRTHDAY: Explore every possibility. Discuss your interests and how you want to live your life with anyone you are hoping will join you. Being on the same page as those you feel most akin to will help you turn your dreams into reality. Make this a year to remember by engaging in activities that bring you closer to your goal. Your numbers are 7, 19, 24, 26, 31, 39, 47.

ARIES (March 21-April 19): You’ve got a good eye for investments, bargains and finding something that ups your chances to get ahead. Go over the fine print and find a path to victory. Trust your instincts, and focus on what you can accomplish. Engage in romance. HHHHH

TAURUS (April 20-May 20): Be reluctant to ignore what things cost or what others want from you. Know when to draw the line, and set boundaries to spare yourself the grief of bending to other people’s whims. HHH

GEMINI (May 21-June 20): Draw from those offering an exciting perspective on what you do or plan to pursue. The input others give you will open your eyes to many ideas that will make your transition from where you are to where you are headed HHH

CANCER (June 21-July 22): Take better care of your home, family and health. Overindulgence will not solve problems or save you money. Pay attention to how you portray yourself and your habits. Moderation will improve your life and relationships. HHHHH

LEO (July 23-Aug. 22): Make plans with someone who shares your interests. Social events will allow you to share your thoughts, get sound feedback and adjust your objectives to ensure long-term success. HHHHH

VIRGO (Aug. 23-Sept. 22): Don’t believe everything you hear. Listen attentively so you can differentiate between what’s fact and what’s fiction. Be selective when it comes to choosing friends, allies and partners. HH

LIBRA (Sept. 23-Oct. 22): Focus on how you look, what you wear and how you carry yourself. Keeping fit and wanting to flaunt what you have to offer will draw the attention of someone who appreciates you for your qualities, choices and appearance. Romance is encouraged. HHHH

SCORPIO (Oct. 23-Nov. 21): Stick to what’s comfortable and the people who put you at ease. You’ll be privy to information that will help you bring about positive change. Attend a seminar, conference or reunion that offers memories and a chance to reconnect with someone. HHH

SAGITTARIUS (Nov. 22-Dec. 21): Pump things up and get things moving. Your enthusiasm will help break up the monotony and draw dynamic people to your side. Get out and infiltrate into areas of interest. Expand your circle of friends, and you’ll benefit from the connections you make.HHH

CAPRICORN (Dec. 22-Jan. 19): Be a good listener, friend and ally. Offer down-to-earth suggestions and a helping hand, and you’ll tweak your reputation and enjoy popularity. Take a different approach to running things at home and financially, and you’ll reap the rewards. HHH

AQUARIUS (Jan. 20-Feb. 18): You’re heading upward, and financial and personal gains are within reach. Expand your interests and trust and believe in yourself and your ability to make things happen. Domestic improvements will lift your spirits. HHHH

PISCES (Feb. 19-March 20): Put an end to an emotional situation holding you back. Check out what’s possible and distance yourself from trouble. Put your energy where it counts and your anger to rest. Consider the big picture and ignore trivialities. HH

BIRTHDAY BABY: You are generous, optimistic and compassionate. You are headstrong and persistent.

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

BY JARED

The Universal Crossword/Edited by David Steinberg

The Tokyo International Film Festival returns in person

pandemic, the 50th Tora-san graced the TIFF. This Tora-san, Wish You Were Here. Poignant and historically significant for the students of Japanese cinema, the film featured Atsumi in a brilliant composition of flashbacks.

Yamada is also noted for his Samurai Trilogy, The Twilight Samurai, The Hidden Blade and The Twilight Samurai won an impressive 12 Japanese Academy Awards, including Best Picture, Best Director, Best Screenplay, Best Actor and Best

FACE to face is what they call it as the 35th Tokyo International Film Festival (TIFF) announces its comeback through a variety of events that will be held in the HibiyaYurakucho-Marunouchi-Ginza area of Tokyo, from October 24 to November 2, 2022. After three years, that one indicator that cinema is celebrated is back— the red carpet event.

This festival becomes the post-pandemic edition, which also marks the end of more than two years of isolation, social distancing, and anxiety. Announced weeks earlier is the person who will serve as the president of the International Competition jury, Julie Taymor. The renowned theater, opera and film director is known for her work, such as the stage musical The Lion King, and the acclaimed films (1999), Frida (2002), Across the Universe (2007), and Glorias (2020). It is significant to note that Taymor will be the second female to head the jury in a row, following noted French actress Isabelle Huppert last year. Completing the jury are cinematographer Yanagijima Katsumi, actor Shim Eun-kyung, director João Pedro Rodrigues and former director of the Institut Français du Japon Marie-Christine de Navacelle. These jurors will judge the 15 films that are part of the Competition section from all over the world.

Of particular interest to the Japanese is this fact about Ms. Taymor. In the words of current TIFF Chair Ando Hiroyasu: “Ms. Taymor has directed not only musical theater but also many excellent films. She has a particularly strong connection with Japan, having studied Ningyo Joruri traditional puppet theater here as a student and later applying it to her own works.” Continuing, Ando said, Taymor happens to be “a big fan of Kurosawa Akira and is the perfect fit as jury president this year, as we revive the Kurosawa Akira Award.”

From Julie Taymor was received this comment

Two wrongs trying to make a right

CONTINUED FROM B4

upgrade. Given the firm’s extreme underperformance, providing an upgrade is likely an illogical choice—but it may make up for the damage done to the stock. Thus, analyst forecasts and recommendations provide an optimal way for our research to capture makeup calls. We found that when an analyst’s forecast significantly overestimated a company’s earnings, analysts were 73 percent more likely to then upgrade their recommendation. In other words, when a firm performed much worse than the analyst expected, they were more likely to recommend buying the stock rather than selling it, even though a downgrade makes more sense in this scenario. Analysts were more likely to issue a makeup call by upgrading the stock, issuing a buy recommendation that was too optimistic for a stock that underperformed expectations by at least 50 percent.

NOT SOMETHING PEOPLE

WANT TO TALK ABOUT

FINALLY, we wanted to assess people’s everyday experiences of makeup calls on the job. How aware are people of making bad calls and makeup calls, and how do they feel about these decisions when they happen at work? We asked managers to recall a time when they made a decision or a bad call. Far fewer people were willing to admit they’d ever made a bad call, even when explicitly asked, compared to those who were willing to say they’d made a decision. We weren’t surprised, since people generally prefer to avoid admitting or discussing their mistakes.

This aversion seems to have extended to makeup calls as well. Those who did admit to making a bad call were not more or less likely to admit that they’d ever made a makeup call, even if they acknowledged feeling guilty for their mistake.

Most of our studies suggest that people do often fall back on makeup calls after an error in judgment. However, people get a little squirrelly when asked about those experiences and tend not to own up to this kind of make-it-right action. THE CONVERSATION

arts are the beacon that brings us out of the chaos, leading the way. In a darkened theater, the images flickering before us draw us both deeply into and also out of ourselves, our isolated and single selves. Hold onto the film theaters, the palaces that bring us together to cross the boundaries of what we don’t know at all, what we think we know and what we have personally experienced. Become the lives and loves of others and let them inspire and torment you.”

What makes this year’s festival doubly exciting is the revival of the Kurosawa Akira Award that will honor the legacy of the legendary auteur and his influence that still lives on in filmmakers. The award will be given to a filmmaker who has made “extraordinary contributions to world cinema, and is expected to help define the film industry’s future.”

acclaimed filmmakers like Steven Spielberg, Yamada Yoji and Hou Hsiao-Hsien. It is common knowledge that Kurosawa remains the most “international” of Japanese directors.

For the award, the nomination committee has five members: Yamada Yoji, Nakadai Tatsuya, Harada Mieko, Kawamoto Saburo and TIFF Programming Director Ichiyama Shozo.

Yamada is a Japanese film director well known for his Otoko wa Tsurai yo (literally, “It’s Tough Being a Man”) series. Known more as the Saga of Tora-san, the series posted some 48 installments, all made between 1969 and 1995. Only one actor played Tora-san and this was Atsumi Kiyoshi who was so identified with the character that there was no sense continuing the series after the actor’s death. In 2019, before the

Nakadai Tatsuya has appeared more in Kobayashi Masaki’s films but his presence in Kurosawa’s iconic films cemented the reputation that he was a Kurosawa favorite. Nakadai was in Kagemusha, which won the Palme D’Or in 1980 Cannes (in a tie with All , Kurosawa’s sprawling and majestic adaptation of Shakespeare’s King Lear, not to mention his appearance in the legendary Seven Samurai and

Harada Mieko is a multi-awarded Japanese actress noted for her participation in two of Kurosawa’s films, . Peerless is her winning awards, all 12 of them, from various film competitions from 1996 to 1999, not to mention the other awards in other years.

Kawamoto Saburo is the respected film and literary critic, to whom is attributed the discovery of one talent, that of Murakami Haruki.

The recipient of the Kurosawa Award will be announced at a later date.

In order to celebrate the genius of Kurosawa, the TIFF has decided to screen classics that the film director is said to have admired and loved. These films (1982, Werner Herzog) and The Spirit (1973, Víctor Erice). They will be labeled during the festival as “Kurosawa Akira’s Favorite Films.”

Under the competition section, some 15 films will be judged, three of these made by Japanese filmmakers. eight of them world premieres. These films were culled from among 1,695 titles from 107 countries and regions.

A feature of the festival is the TIFF Lounge, which will have conversations between leading auteurs from Asia and other regions. Happening for three years now, this event is under the auspices of the Japan Foundation and TIFF. What is a Japanese film festival without animation? For this year, the theme of the Japanese animation section is “Creating a World from Scratch.” ■

Newest streaming service arrives in the Philippines

LOS Angeles-based media company Jungo TV recently launched its latest entertainment app Jungo Pinoy, the exciting streaming service specifically created and curated for Filipinos.

Providing superior on-demand streaming experiences with an impressive selection of free movies, series, and shows, Jungo Pinoy boasts the largest Tagalogdubbed movie library in the world. With new movies published weekly, subscribers will never run out of action, drama, and comedy films to enjoy.

The newest entertainment platform also delivers a programming line-up packed with Pinoy favorites. Subscribers can watch loads of content that span everything from K-pop and Asian films (think the Bruce Lee-starrer The Chinese Connection), Hollywood hits, global blockbusters (horror classics, like Day of the Dead, Night of

the Living Dead, and Halloween starring Jamie Lee Curtis), to sultry and rare Filipino movies. Discover hard to find films, like Of Sinners and Saints, a 2015 critically acclaimed Italian-Filipino thriller with Raymond Bagatsing and Polo Ravales, and stream all of cult favorite director Andy Sidaris’s pulp action bonanzas, such as Malibu Express and Enemy Gold.

What’s more, wrestling fans can relive some of the best Impact Wrestling matches featuring popular professional wrestlers, like Hulk Hogan, Samoa Joe, AJ Styles, and Filipino American wrestler TJ Perkins.

On Jungo Pinoy, music lovers can watch free concerts from the world’s most popular acts, like Beyoncé, Taylor Swift, Britney Spears, Adele, Lady Gaga, Dua Lipa, Coldplay, Charlie Puth, and Ed Sheeran.

Get kilig for free with its collection of romance and romcom titles, including

modern Filipino love stories, featuring Nadine Lustre, James Reid, Dingdong Dantes, and Anne Curtis, as well as Korean dramas starring popular K-pop idols, like Kim So Hee and Kim Young Bin that can be streamed by simply downloading the app from the Google Play Store or the Apple App Store.

According to Jungo TV CEO George Chung, “Jungo Pinoy is uniquely inspired in that it is created specifically for Filipinos by a global media company. Jungo TV takes its mission of connecting with audiences seriously. We passionately worked hard to understand what Filipinos like and enjoy, and curated a world-class programming lineup that revolves around these. You probably will not find another streaming service as customized for Filipinos as Jungo Pinoy.”

Lolong faces greatest battle in season finale

GREED breeds monsters in men. Will evil finally triumph or will destiny take its course and avenge the oppressed?

This September 30, Lolong (Ruru Madrid) faces his greatest battle yet as 2022’s most watched Philippine television series airs its season finale.

Spanning three years in the making, the GMA Public Affairs-produced series (www.gmanetwork.com) has become a force to be reckoned with in prime-time viewing. It continues to post double-digit ratings every night since its pilot airing, recording more than 13 million television viewers per episode. It was hailed as “Best Primetime Serye” at the Gawad Pilipino Icon of the Year 2022.

Yet, beyond the numbers is the impact the dambuhalang GMA adventure series has on the public. Lolong has inspired viewers, young and old, to revisit their values in life—not only the love for family and friends, but also raising awareness on caring for the environment and protecting animals.

“As actors, our goal is to entertain people. But this project has also allowed us to give inspiration and lessons to the public,” said Ruru. “Hindi po namin in-expect na

ganito ninyo mamahalin ang aming programa. Gusto namin suklian iyon. Sa aming season finale week, nawa’y patuloy ninyong suportahan ang Lolong. Abangan ninyo ang mga kapana-panabik na mga tagpo,” he added.

Ruru is joined in the series by a powerhouse cast that includes Shaira Diaz, Arra San Agustin, Christopher de Leon, Jean Garcia, Malou de Guzman, Rochelle Pangilinan, Paul Salas, Ian de Leon, Maui Taylor, Marco Alcaraz, Mikoy Morales, and Alma Concepcion.

The actor lauded his cast members who put their efforts into their characters, as well as the people behind the camera. “Hindi siya magiging successful kung hindi dahil sa kanila. Sobrang thankful ako sa kanila.”

As the first season draws to a close, viewers are in for more action-packed scenes that will leave them at the edge of their seats.

Lolong is directed by Rommel Penesa and Conrado Peru. Witness the face-off between the Atubaw and the Bansons in Lolong’s season finale this Friday, September 30, 8 pm, after 24 Oras and 9:40 pm on GTV. Viewers abroad can catch it as well via GMA Pinoy TV.

THE legendary filmmaker Kurosawa Akira

RURU MADRID plays the title role in the hit GMA series Lolong

Youth’s wish list includes bridge connecting Maricani to Guiuan

THE wild idea may have come from their experience with the San Juanico structure, the bridge that connects Leyte and Samar. The Municipality of Guiuan is in the eastern part of Samar and everyone travelling to Tacloban from Guiuan, and back, will have to pass through the grand San Juanico.

Hinatuan Mining Corp. (HMC), a subsidiary of Nickel Asia Corp (NAC), is the mining company with operations in the island of Manicani, which is part of the jurisdiction of Guiuan.

“I welcome the enthusiastic imagination of the youth of Manicani, because that is what triggers progress, these wild ideas,” says Engr. Annamae Prongo, an HMC scholar who hails from Manicani and who now works as mining engineer in another NAC subsidiary located in Dinagat Islands – Cagdianao Mining Corp. (CMC).

HMC was recently granted by the Department of Environment and Natural Resources (DENR) with the Mineral Production Sharing Agreement (MPSA) which grants the company the right to mine in Manicani. Under the MPSA, HMC is mandated by law to develop a Social Development and Management Program (SDMP), a comprehensive fiveyear plan that will help create self-reliant communities with designed development programs in a manner consistent with the principles of responsible mining and sustainable development.

The youth of Manicani’s wish list, which they wrote on Manila paper paper during a recent community consultation, primarily includes scholarships for the youth, jobs for their parents, and

medical assistance to the elderly members of the community.

Also included in the list are fast and free WIFI-connection; a volleyball court; a medical facility with a doctor and nurses and readily available medical supplies; a library with computers for research; free transportation for students; and yes, a bridge to connect Manicani to the mainland municipality of Guiuan.

Discussions on the protection of the environment in Manicani and about detailed scientific mining processes that will impact the communities in the island are also hot topics and mining engineer

Christian Centillas, another HMC scholar from Manicani, now working as mining engineer in CMC, is proud that the youth of his hometown is asking the right questions and demanding accountability, showing concern over the well-being of the people and the environment.

“We are helping the youth in Manicani understand the MPSA and SDMP because they will be the mining company’s partners in developing the island and because it means they will have to understand where the funds will be coming from for all the items in their wish list – but maybe not yet the bridge,” Centillas explains with a smile.

Makati Business Club pushes for people-oriented transportation

AS the Philippines observed World Car-Free Day recently, the Makati Business Club (MBC) called on managers and policy makers to experience public transport for themselves and active mobility.

The statement read:

“On the occasion of World Car-Free Day, MBC encourages managers and policymakers to ask about or even experience the challenges and benefits of public transport and active mobility (walking and cycling). This would be a

critical factor in promoting and enacting people-oriented transportation systems that serve the great majority of Filipino commuters.

We support increased investment in public transport that is well- and holistically-studied as well as pedestrian sidewalks and bike lanes that are safe and inclusive. We support evolving discussions around motorcycles given the fast-growing role they are playing in our lives. We believe these investments are an essential part of a transport and mobility system that will enable all Filipinos to work and do other

activities they need or want to do.

On cycling, MBC started its Business For Biking Program in 2021 to help Filipinos who bike to get to work and for whom biking is work.

We encourage government, businesses, and civil society organizations to promote and build more protected bike lanes, bike ramps, and end-of-trip facilities (bike racks, showers, and lockers). We thank and congratulate government agencies and businesses that have advanced these. We invite others to do so and would be happy to help them.”

Covid-19 testing for returning OFWs to continue—PhilHealth

Consequently, the state insurer will pay for RT-PCR tests (either plate-based and cartridge-based) of the following priority groups: A1 – healthcare workers, A2 –Senior citizens, A3 – persons with comorbidities and high risk for severe disease and ALL except A1, A2 and A3 with symptoms of Covid-19.

The Circular also emphasized that Covid-19 testing is not recommended for screening asymptomatic individuals and for asymptomatic close contacts. Instead, symptom monitoring is recommended. Should testing be used, it should be done at least five (5) days from the last day of exposure.

PhilHealth covers plate-based RT-PCR test from P800 – P2,800 and cartridge-based PCR from P500 – P2,450 depending on the services covered. Members and their qualified dependents may avail of Covid-19 Testing Package at any of the 230 accredited laboratories nationwide.

Business is thriving in QC; to host investors summit

IN order to boost investor confidence, the Quezon City Government will be hosting a business investment summit on October 7 at the Novotel Manila, Quezon City. The city will be presenting its “ease of doing business” initiatives and its plans to enhance its business climate at this gathering of business leaders. The summit is also meant to be a venue through which the city can engage with business leaders and seek their views on policies and programs for the mutual benefit of both the local government and the private sector.

With the theme “QC is Future Ready,” the one-day event aims to bring together investors, business leaders, business associations, chambers of commerce, foreign dignitaries, and Quezon City government officials. “We want to achieve three things at this event. We want to generate investments for our city, build partnerships favorable to all QCitizens; and we want to make Quezon City the topof-mind preferred investment destination,” said Perry Dominguez, head of the summit’s organizing committee.

During her first term, Mayor Joy Belmonte and the Quezon City government received 83 awards and recognitions from the national government, private sector, and the international community. While she is grateful for the recognition, Belmonte said the real measure of success is the number of Quezon City residents whose lives have improved under her watch. Among her accomplishments towards this end include improved social services for the people, especially the vulnerable. She believes this was partly made possible by the free, fair, and fertile business environment she nurtured during her first three years in office, which

facilitated the flow of revenue into the city that in turn was allocated to addressing her constituents’ main concerns.

This time around, Belmonte is pursuing five major thrusts that will foster a robust business climate and increase investor confidence in Quezon City. These five thrusts are social services for all, economic development, environmental sustainability, gold standard infrastructure projects, and sustained good governance.

Under economic development, Belmonte assures QCitizens of the continuous automation and digitization of the city’s services, which are geared towards further enhancing the “ease of doing business” and eradicating corruption. To date, Quezon City has migrated most of its manual services online - from assessment, payment of business and real property taxes to applying for business permits, building permits, college scholarships, to registering births.

“Higher business confidence leads to jobs, higher productivity, increased labor demand, and accelerated economic growth. Our constant coordination with the business community enables us to foster a relationship of mutual respect and support,” Belmonte said.

Have a happy Sunday morning by making your way to Guevarra‘s in San Juan for breakfast

“Our Angus Beef Tapa takes a long time to prepare. We first marinate it then it’s ovendried, then finished on the grill to give that distinctive smoky flavor,” reveals Chef Rolando Laudico who is more popularly known as Chef Lau. He heads the Guevarra’s kitchen together with wife, Chef Jac.

THE Philippine Health Insurance Corporation (PhilHealth) recently announced the continuing coverage of Covid-19 test for returning OFWs in accordance with IATF Resolution No. 168, s. 2022.

In its PhilHealth Advisory 20220026 released September 8, 2022, the PhilHealth Board, in its special meeting presided by Department of Health Officerin-Charge and Board Chair Dr. Maria Rosario S. Vergeire, approved the benefit

in acknowledgment of the role of OFWs.

Specific guidelines through a circular will be released soon, with retroactive effect to August 31, 2022, the Advisory further noted.

PhilHealth earlier published Circular 2022-0018 aligning its Covid-19 testing coverage with DOH Memorandum No. 2022-013 or the “Updated Guidelines on Quarantine, Isolation and Testing for Covid-19 Response and Case Management for the Omicron Variant”.

The state health insurer also reminded the public of its facility-based rapid antigen test (RAT) package worth P500, which is available to symptomatic patients being managed by Covid-19 Home Isolation Benefit Package and COVID-19 Community Isolation Benefit Package providers. Patients admitted in accredited hospitals and infirmaries/ dispensaries may also avail of the RAT package.

THE Breakfast Buffet at Guevarra’s by Chef Laudico will have you waking up early on a Sunday!. The sumptuous selection of approximately 40 items begins with a bread corner. Think Ensaymada, Pan de Coco, Spanish bread, and the like. These are stacked near pizzas in local flavors such as tocino and tuyo. Next to these goodies is the salad section where among the options available are Ensaladang Talong with Salted Egg, Macaroni Salad, and Potato Salad, among others.

From here, you can get started on putting together your silog of choice. You can create your own combination of garlic sinangag rice with any style of eggs and mains. A cook is at your service at the egg station, waiting to prepare your eggs any which way you want. For the mains, you can go for the garlicky

To complete your meal, you can opt for Filipino breakfast classics such as Champorado and Arroz Caldo. At P499 net per person, Guevarra’s by Chef Laudico’s Breakfast Buffet is an excellent deal. It is available every Sunday from 7:30am to 10:00am.

Lunch and Dinner Buffet are available at P699 net per person. Service hours are 11:00am to 2:00pm, 5:00pm to 7:00pm, and 7:30pm to 10:00pm, Mondays thru Sundays, with an extra 2:30pm to 4:30pm service on Saturdays and Sundays.

Guevarra’s by Chef Laudico is located at 387 P. Guevarra corner Argonne Streets, Addition Hills, San Juan. For inquiries and reservations, you may reach them through (02) 8705 1811 / (02) 8705 1874 / (0998) 881 3200 or visit @ guevarrasph on Facebook and Instagram. You may also log on to www.guevarras. com to order your Guevarra’s cravings online and enjoy from the comfort of your own home or office.

Alpha Southeast Asia names Security Bank as the Best Retail Bank in the Philippines again

ALPHA Southeast Asia, one of the leading financial capital markets magazines in the region, has again recognized Security Bank Corporation as the Best Retail Bank in the Philippines 2022 during its 16th Annual Best Financial Institution Awards.

Cited as the most comprehensive awards program in banking and finance in Southeast Asia, the Financial Institution Awards has awarded the Best Retail Bank in the Philippines title to Security Bank for the fourth time in the last five years.

According to Alpha Southeast Asia, “Security Bank has been able to move ahead of its closest competitors to claim the pole position of the top retail bank in the country. In recent years, the Bank has invested heavily to incorporate state-of-the art technologies in its end-toend process, enhancing sales and distribution channels to drive loan application volume. The Bank has also continued to make improvements to serve its customers with seamless service.

With the Bank focused on investing in the next generation of enhancements, they are well placed for many years to come.”

The esteemed financial publication emphasized that retail banking plays a crucial role in the development of the Philippine

economy. Alpha Southeast Asia’s Financial Institution Awards has continued to assess the credentials and track record of financial institutions across the Southeast Asian region.

“We thank our clients for their continued trust in Security Bank throughout the years. This recognition from Alpha Southeast Asia is a validation of our commitment to deliver a BetterBanking experience for all our customers,” said Security Bank EVP and Retail Banking Segment Head Maki Tingson.

To achieve its vision of becoming the most customer-centric bank in the Philippines, Security Bank has been focusing on the transformation of its digital channels for retail, corporate, and MSME clients, and Contact Center, both voice and non-voice. The Bank has made great strides and continues to make significant investments in technology, risk management, and talent to address customers’ evolving needs and invest in what matters to them.

“Our vision is to become the most customercentric bank in the Philippines, so we are doing our best to know our customers by leveraging on data to ensure that we are providing the best solutions for their requirements and to support their life aspirations.” added Tingson.

THE wish list includes scholarships and creation of jobs and medical assistance, a volleyball court, free internet connection, and, yes, a bridge that will connect the island to the mainland of Guiuan

GUEVARRA’S by Chef Laudico’s Breakfast Buffet has roughly 40 dishes.

Vigan Longganisa, Daing na Bangus, crispy Danggit, and Chicken Pork Adobo plus the typical morning mainstays - Hotdog, Bacon, and Corned Beef. Best-seller of the house is the Angus Beef Tapa.

NBA IN JAPAN: IT’S ALL ABOUT MONEY

TOKYO—Japanese basketball fans will get to see National Basketball Association (NBA) stars up close when the reigning league-champion Golden State Warriors take on the Washington Wizards in two preseason games.

Not surprisingly, Stephen Curry and Japanese-born Rui Hachimura will be the star attractions for each team.

A nd as clearly as the logo of Japanese online retailer Rakuten is splashed on Curry’s jersey, big money is riding on the NBA’s most recent foray into Japan.

Junya Ogura, senior manager at Japanese automaker Nissan’s brand and media strategy department, thinks it’s all worth it, given the NBA’s strong appeal to the younger generation, a trend that’s backed up by marketing studies.

Nissan Motor Co., which sponsors Japanese professional baseball and soccer, had a high-profile deal with tennis superstar Naomi Osaka which recently ended. This is the first time it’s sponsoring NBA games.

The tickets cost up to 420,000 yen ($2,900) each for courtside “VIP” seats. Both Friday and Sunday games are sold out at the Saitama Super Arena.

These are the Japanese people who grew up on Michael Jordan,” said Ogura. “We are banking on a return that will come in the future.”

The NBA has drawn 15 marketing partners to support the preseason games in Japan, including American Express, Hennessy, NEC and Nike, and now has 19 marketing and promotional partners in Japan.

R akuten, which also sponsors Japanese baseball and soccer and holds the Japan Open tennis championships, live-streams NBA games.

“Obviously it’s about the money,” said Bob Dorfman, a San Franciscobased sports analyst at Pinnacle Advertising.

Building the fan base in Asia, and everywhere else in the world, results in more sponsorship dollars, increased media rights and greater merchandise sales.”

The NBA may have more global appeal than other US sports, being easier to understand than football, for instance, according to Dorfman, who has worked in Japan.

Every team has foreign-born

players on their rosters, and the league’s top stars are cultural icons, trendsetters, and social media giants. The game is cool,” he said.

Th at translates not only into sponsorship money but also youngsters spending on sneakers and other fashion items and merchandising.

B etween 1990 and 2003, the NBA staged 12 regular-season games in Japan. The last time the NBA played in Japan was in 2019, when Houston and Toronto played a pre-season game. The coronavirus pandemic had postponed their return to Japan until now.

A nd so the NBA is again courting Japan.

A g iant 3D display at a Tokyo street-crossing depicts Curry and other NBA stars as “manga,” or Japanese comic, characters. The NBA’s

Japanese-language social media accounts have amassed more than 1.6 million followers.

W hile the players are in town, they will be taking part in various fan events. Besides Hachimura, the NBA now has another Japanese player, Yuta Watanabe, who is with the Brooklyn Nets.

T he NBA is also excited about the potential for women’s basketball. Japanese women were the silver medalists in the last Olympics. Rui Machida, an Olympian, signed earlier this year with the WNBA’s Washington Mystics.

“ Our fan base is growing,” said NBA Asia managing director Ramez Sheikh. “There is real momentum around basketball in Japan, and it’s a real important market for the NBA.” AP

NLEX aims for 2-and-0; Meralco starts campaign

ADONIS TIERRA will be on NLEX’s hot seat for the second straight game as the Road Warriors go for back-to-back victories against the Blackwater Bossing in the Philippine Basketball Association Commissioner’s Cup Friday at the Smart Araneta Coliseum.

Sitting as interim coach as newlyappointed head coach Frankie Lim serves a suspension he incurred seven years ago, Tierra and the Road Warriors take the floor against the Bossing at 3 p.m.

Tierra made a good account of his coaching abilities when he steered NLEX past Rain or Shine, 96-90, in an anticipated showdown between the Manuel V. Pangilinan franchise and its former head coach, Yeng Guiao.

The bond between coach and players was stuck like glue that in the pre-game shootout, the Road Warriors approached Guiao in the Rain or Shine bench to show respect to their former taskmaster.

But a game is a game and they had jobs to do. And the result was a comefrom-behind win for the Road Warriors and a stinging setback for Guiao.

I mport Earl Clark was a former Phoenix Sun, Orlando Magic and Cleveland Cavalier for nothing and posted 26 points, 14 rebounds and six blocks in his PBA debut.

“ Phoenix is going to be a tough adversary to deal with. They played great after losing their opening game,” said Tierra, adding that he’s implementing Lim’s game plan for a fast-paced and half-court setup. “We just have to keep playing better.”

L im was an assistant coach at Barangay Ginebra San Miguel when he

had a physical confrontation with Calvin Abueva, who was then with Alaska in the 2015 Governors Cup and was slapped a one-game suspension. He was immediately dropped by Ginebra and no longer served the ban.

But Commissioner Willie Marcial opted to serve Lim the penalty “in deference with the then Commissioner’s Office decision” at the time of the offense.

Blackwater recovered from an 87-133 opening day rout at the hands of guest team Hong Kong Bay Area Dragons by beating Phoenix, 97-85, last Saturday for a 1-1 record.

Blackwater import Cameron Krutwig had 17 points, 16 rebounds and seven assists against the Fuel Masters.

Meralco, meanwhile, starts its campaign in the import-laden conference when it meets NorthPort at 5:45 p.m. The Bolts have another National Basketball Association veteran, 6-foot-9 Johnny O’ Bryant, as import.

Meralco coach Norman Black expects O’ Bryant to make a difference.

“We just want to get a solid player, somebody who we know is good offensively and defensively and who can rebound,” Black said. “We want a guy who also plays inside the paint because that’s our weakness.”

W ith defensive-minded import Prince Ibeh around, the Batang Pier are expected to rely on the offensive game of Robert Bolick, Arvin Tolentino and Roi Sumang to bounce back from a narrow 105-104 defeat to the Dragons.

NorthPort is also sporting a 1-1 card. Josef Ramos

BIG-TIME 3X3 ALL SET IN CEBU

By Josef Ramos

MANDAUE City—There’s something about Cebu that inspires Ronald Mascariñas—the godfather of Philippine 3x3.

We are here today to pay homage to The Sisters of Mary School Girlstown and Boystown,” Chooks-toGo president Mascariñas said. “Thus, we are bringing the biggest basketball event here in Cebu.”

M ascariñas spoke during Thursday’s festive press conference for the International Basketball Federation (FIBA) 3x3 World Tour Cebu Masters 2022 at Radisson Blu.

The event is set this Saturday and Sunday at SM Seaside.

You [Sisters of Mary] welcomed us with open hearts when we launched 3x3 in 2019, so we’re bringing back what is best for Cebu,” said Mascariñas, who was joined at the head table by Sisters of Mary Boystown’s Sr. Esterlita Capiña, SM, and Girlstown’s Sr. Laresa Morasa, SM.

C hooks-to-Go, together with The Sisters of Mary School Girlstown and Boystown, broke a FIBA world record for most kids playing in a 3x3 game

and the most number of simultaneous under-18 games played with 1,656 girls and 1,380 boys taking part in a feat in January 2019.

M ascariñas’s dream is bound to go even higher—the Olympics.

I’m not optimistic but I’m hopeful we can do it,” said Mascariñas in response to questions on the possibility of Filipino players qualifying for the Paris 2024 Olympics.

“ Everything we’re doing is leaning towards qualifying for the Olympic Qualifying Tournament,” he added.

Fourteen teams are seeing action in the two-day, maximum level tournament where $40,000 awaits the champion with the Philippines relying on Cebu Chooks! and Manila Chooks! for a strong finish.

Cebu—bannered by its proud son Mac Tallo, Brandon Ramirez, Zach Huang and Mike Harry Nzeusseu—is in Pool A with Antwerp and Omaha.

M anila, meanwhile, will be led by Chooks 3x3 head trainer Chico Lanete, Dennis Santos, Henry Iloka and newcomer Dave Ando.

Pool B is composed of Riga, Utsonomiya Brex and Sansar MMC, while Saitama, Jeddah and Amsterdam make up Pool C.

‘September to Remember’ in global sports

By Eddie Alinea Special to BusinessMirror

IT’S the end of the month that the global sports media has long dubbed as “September to Remember.”

Former chess prodigy Bobby Fischer and boxer Rocky Marciano were just two sports icons who made sportswriters from all over the world coin the description for September.

Fischer became the first American to become chess world champion in September 1, September 1972. The then 29-year-old former child prodigy battled then reigning world champion Boris Spassky of the Soviet Union to seven wins and 11 draws in a classic encounter in Reykjavik to amass the needed 12.5 total points to claim the crown in the showdown that started July 11 of the same year.

The Soviet grandmaster, incidentally, resigned via telephone call of their adjourned 21st match. Fischer, then the youngest player to complete a grandmaster norm at 15, bought home U$156,250 of the $250,000 purse. Spassky got $93,750.

Twenty years and one day later on September 2, 1992, the two best players in the world met anew in a challenge match held in Yugoslavia. Fischer, playing against United Nations sanc tions on the host nation, reaffirmed his supremacy for the second time, 17.5 to 12.5 points, and got $3,650,000 of the $5 million purse.

Eugene Torre, Fischer’s close friend and Asia’s first GM, acted as the American’s second in that match.

It was also on the first day of Septem

ber in 1923, when American boxer Mar ciano was born. He died on the same day in 1969 but not after fashioning out an immaculate 49-0 win-loss record, which only recently was broken by compatriot Floyd Mayweather Jr.

It’s not all rosy for the month though. September proved to be a sad month for the American ath letes in other fronts. As Fischer was wreaking havoc in chess, the US’s 16-year gold medal run in Olympic pole vault was cut short in Mu nich rather controversially by East German Wolfgang Nordwig, who cleared 5.5 meters for the gold.

E ight days before the Munich competitions, the International Amateur Athletics Federation banned the use of a new model Cata-Pole. Four days before the event, the ban was lifted only to

be reimposed the following day.

A ll the top contenders used the new poles and their performance suffered, except Nordwig.

Two Summer Olympics earlier in Rome, an amazing eight Olympics victories by the US rowing team-ofeight that started in 1920, was broken, again, by a German eight squad made up of oarsmen from Ruzenburg and Ditmarsia Kiel which beat their counterparts from Canada.

It was on September 8 though that great moments in grand slam tennis occurred. On this date in 1957, Althea Gibson became the first African-Amer ican female or male to win the US Open singles title by beating, in straight sets, four time Wimbledon champion Louise Brough, 6-3, 6-2, at Forest Hills.

On the same day in 1969, Austra lian Rod Laver became the only player to complete back-to-back Grand Slam conquest by besting compatriot Tony Roche, 6-1, 6-3, 6-2. It was Laver’s 11th Grand Slam triumph counting his Wim bledon victories in 1961, 1962, 1968 and 1969; US Open in 1962 and 1969; Australian Open in 1962 and 1969; and French Open in 1962 and 1969.

A nother Australian, Margaret Court, entered her name in tennis post-war history by winning a record fifth US Open singles crown in 1973, topping compatriot Evonne Goolagong, 7-6, 5-7, 6-2, in the final also at Forest Hills. Court also won in 1962, 1965, 1969 and 1970.

Sixteen-year-old Tracey Austin became the youngest ever winner of the US Open when in 1979, she upended her idol Chris Evert in two sets. 6-4, 6-3 in their championship duel.

Sealions close in on Spikers’ Turf bronze vs Griffins

PGJC-Navy made quick work of VNS-One Alicia, 25-20, 25-19, 25-21, to move on the verge of a bronze medal finish in the Spikers’ Turf Open Conference Thursday at the Paco Arena.

The Sealions arrested their twogame skid and could clinch third place on Saturday at 2:30 pm.

We’re satisfied because our players got a needed rest coming from a loss, at least they’re winning again and hopefully we finish the job on Saturday,” PGJCNavy head coach Cecille Cruzada said.

Jao Umandal, Ronniel Rosales

and Joeven Dela Vega unleashed an off-the-block kill and back-to-back rejections, respectively, to give the Sealions the first set, 25-20.

The Griffins tried to come back from a 15-23 deficit in the second set but Omar Lioc shut the door with a through-the-block spike, 25-19.

V NS-One Alicia played catchup anew in the third period to close the gap from six to two, but Jemmy Entig and Greg Dolor connected on a 3-1 run for the win, 25-21.

We’ve moved on, our goal is to get the bronze and we’re pour everything

on Saturday,” team captain Dolor said.

Dela Vega, still playing hurt, unloaded 14 points on 10 attacks, three blocks and a service ace laced with seven digs for the Sealions.

A lso coming through for PGJCNavy were Dolor, who finished with eight points, while Umandal got seven points in the first two sets. He was rested in the third.

B en San Andres had nine with 11 excellent receptions Griffins, while Yoyong Mendoza chipped in eight points and Alfredo Pagulong came off the bench for seven points.

CHOOKS-TO-GO President Ronald Mascariñas with Sisters of Mary’s Esterlita Capiña, SM, and Laresa Morasa and the Cebu and Manila Chooks players.

THE Washington Wizards, including Rui Hachimura, and Isaiah Todd, work out in Tokyo Thursday. AP

CHESS prodigy Bobby Fischer booked his first major impact in the month of September.

NLEX import Earl Clark is as good on the court as he’s on paper.

Motoring

FULL-ELECTRIC AND HYBRID VEHICLES IN FULL SWING AT PIMS

Story & photo by Randy S. Peregrino

Pioneer of a New Age

AS the lone European presenter, BMW showcased its luxury electric SAV, the BMW iX. The German automaker claims that the iX was conceived from a vision and created for electric mobility. With its efficient BMW eDrive technology and electric all-wheel drive, the electric SAV can achieve exceptional range and impressive acceleration.

T he BMW iX revolutionizes the pre mium SAV segment with a range of over 600 km. The two powerful electric mo tors combined with electric all-wheel drive generate a staggering over 500 hp and can accelerate from 0 to 100 km/h

in under five seconds. The charging capacity is up to 200 kW. It can charge 120 km of range in just ten minutes or 10-80 percent of the battery in under 40 minutes. At home, charging using a BMW Wallbox takes up to 11 kW in less than eleven hours.

South Korea’s take on EV TWO of the considered show-stopper brands during PIMS were Hyundai and Kia. While these two brands are under one company umbrella, each of their models, despite sharing one platform, pulled-off an entirely unique-looking EVs—the IONIQ 5 and the EV6.

T he first to be previewed was the Kia EV6. This EV brings long-range, zero-emissions power, 800V ultrafast charging, and distinctive styling to the crossover SUV market. Judging from the trims, we reckon the EV6 previewed was a GT Line variant fit ted with a 77.4 kWh Battery generat ing 320 hp and 605 N-m of maximum torque. According to Kia Philippines, the EV6 will be available in the first quarter of next year with a price tag of less than P4 million.

Meanwhile, Hyundai Motor Philip pines (HMPH), Hyundai’s new official distributor of passenger cars in the country, previewed their very own IONIQ 5. This EV is the first vehicle built on Hyundai’s new Electric-Glob

al Modular Platform (E-GMP). With a 350 kW DC charger, the IONIQ 5 can charge from 10 percent to 80 percent in 18 minutes. The long-range 72.6 kWh battery in the all-wheel drive version, IONIQ 5, is propelled by two electric motors (front and rear axles), providing 300 hp and 605 N-m of in stant torque. On paper, acceleration from zero to 100 km/h is achieved at 5.2 seconds.

Nissan’s green duo LAUNCHED last August, the All-New Kicks e-POWER brought a new per spective on experiencing the best of both worlds in driving. Its powerful full-electric motor changed how we looked at the gasoline engine’s role in propelling a vehicle, acting solely as a battery charger. This subcom pact SUV generates a substantial 134 hp and 280 N-m of maximum torque while achieving as much as 22 km/L fuel consumption (UNR101 fuel efficiency testing). The total distance is a potential range of up to 900 kilometers from a single full tank (41liters) of fuel.

T he Nissan LEAF’s sustainability was also given the spotlight. An out door display was set up to feature the vehicle being charged via solar panels to provide power to the entire Nissan booth through its V2L or vehicle-toload capabilities. The Leaf’s all-electric powertrain generates 110kW (148 hp) and a staggering 320 N-m maximum torque. This EV can sprint from zero

to 100 km/h in just 7.9 seconds with a top speed of 140 km/h.

Mazda’s M Hybrid Technology

MAZDA Philippines showcased its eSkyactiv-G Mild Hybrid (M Hybrid) Technology in two models —the Mazda3 and CX30. Utilizing a Multi-Solution approach that offers appropriate pow ertrains in consideration of each coun try or region’s energy policies and the energy mix is the strategy Mazda sees in achieving its goals.

T he new Mazda M Hybrid system utilizes regenerative braking technol ogy to recover energy usually lost during braking to power the vehicle’s onboard electronics. A motor then assists with engine acceleration from a standstill. By mating a DC/DC converter, an In tegrated Starter Generator (ISG), and a Regenerative Friction Brake Coordina tion system with a new 24-volt M Hy brid Lithium-Ion battery, fuel economy improves while reducing emission.

Suzuki’s SHVS

ON the part of Suzuki Philippines, the company previewed its take on sustain able mobility, the Smart Hybrid Vehicle by Suzuki (SHVS), featuring the Ertiga mild hybrid variant. According to Suzu ki, engineered, keeping sustainability in mind, Smart Hybrid is a progressive step toward a greener future. At the same time, it has a significant role in the car’s driving performance and the fuel efficiency it delivers.

T he Smart Hybrid system has an Integrated Starter Generator (ISG) and a dual battery setup, including lithium-ion and Lead-Acid batteries. During braking and deceleration, the kinetic energy produced is converted into electrical energy and stored in this dual battery setup. The fuel-efficiency benefit is down to the Idle Stop Start function available.

Plug-in Hybrid Electric Vehicles(PHEV)

INTRODUCED last year, Mitsubishi Philippines showcased the Outlander PHEV with redesigned components and an extended EV driving range. The new model can now drive solely in EV mode with minimal engine operation,

Ukraine war drives Toyota out of Russia

even in aggressive driving mode. The larger capacity drive battery of 20 kWh increased the all-electric drive range to 87 kilometers.

M otivation comes from a 4B12 2.4-liter engine generating 98 hp and 195 N-m maximum torque. The electric motors, on the other hand, generate 115 hp (85 kW) and 255 N-m of maximum torque (front) and 136 hp (100 kW), and 195 N-m of maximum torque (rear).

Meanwhile, Chery Philippines ex hibited its Tiggo 8 Pro PHEV as the country’s brand representation of green mobility. Motivation comes from a Euro V 1.5-liter TCI turbocharged engine generating a combined ICE and electric motor output of 320 hp and 545 N-m of maximum torque.

At the heart of this new hybrid sys tem is Chery’s use of “three engines.”

The first is a turbocharged gasoline engine that delivers 156 horsepower and 230 N-m of torque. It is then paired to two electric motors—one with an output of 74 hp and 160 N-m of torque and another with 95 hp and 155 N-m of torque. A 19.27-kWh lithium-ion bat tery offers an all-electric cruising range of up to 90 kilometers on a full charge.

Leading the way to greener mobility

TOYOTA Motor Philippines (TMP) has the most availability, conventionality, and industry-proven among the ex hibitors. To date, TMP offers multiple variants of HEVs with Corolla Altis, Corolla Cross, Camry, and RAV4 show cased during the recently concluded 8th PIMS.

Globally, Toyota and Lexus have sold 20 million electrified cars to date, with an equivalent contribution to a global carbon emissions reduction of more than 160 million metric tons. TMP’s pursuit of carbon neutrality is to achieve carbon neutrality through having a net result of zero emissions.

T MP is proactive in promoting green mobility in the Philippines. In 2009, it introduced the electrification move ment in the Philippines with its first hybrid electric vehicle (HEV), the Prius.

Locally, more than 90 percent of users of electrified vehicles (xEVs) drive a Toyota or Lexus electrified vehicle.

Mazda, have announced plans to cur tail operations in Russia, according to Yale University.

“Renault offloaded its roughly 68 percent stake in top Russian auto maker AvtoVAZ to a Russian stateaffiliated research institute for just 1 ruble (2 cents) in May, though the deal included an option to buy back the stake within six years.

THE Russia-Ukraine war is driving car giants out of Rus sia. Toyota leads the batch, according to Nikkei Asia.

In an item last weekend, Nikkei Asia said Toyota, the world’s No. 1 carmaker, will become the first au tomaker to withdraw from Russia since it suspended its operations in St. Petersburg on March 4.

Nikkei Asia’s report: “NAGOYA, Japan—Toyota Motor on Friday announced an exit from auto mobile production and sales in Russia, citing difficulties supplying key mate rials and parts in the country amid the war in Ukraine.

“‘It was a difficult decision,’ Toyota Chief Communications Officer Jun Nagata told reporters online Friday. ‘We will liquidate our local unit in Russia instead of selling it.’”

“Operations were suspended at its plant in St. Petersburg on March 4, after the Russian invasion began on February 24.

“After six months, we have not been able to resume normal activi ties and see no indication that we

can restart in the future,” Japan’s top automaker said.

“A protracted disruption would hurt Toyota’s ability to support employees, leaving it no choice but to end production in the country, it said.

“Mounting geopolitical risks in the region are believed to have contrib uted to the decision as well.

“Toyota had continued to pay fac tory workers after suspending pro duction, reassigning them to main tenance and other tasks.

“The automaker said it decided to terminate operations while it has the resources to provide a larger severance to affected workers and help them find new employment.

“ Toyota holds a larger market share in Russia than any other Japa nese automaker. It produced 80,000 vehicles and sold 110,000 in the country in 2021.

“The company began locally pro ducing vehicles in 2007 at St. Peters burg. The plant’s lineup included the RAV4 sport utility vehicle and the Camry sedan in 2021.

“Over 1,000 companies, including

“Renault alliance partner Nissan Motor has extended its production freeze at its St. Petersburg plant to the end of December from the end of September.

“Mitsubishi Motors, the third member of the alliance, has paused Russian production as well.

“In the food industry, McDon ald’s and Starbucks are among those exiting Russia.”

Honda’s 40th dealership HONDA will open next year its 12th dealership in Metro Manila and 40th nationwide.

Located in Marikina City’s Sumu long Highway, the state-of-the-art dealership will be erected on a 3,700sq. meter lot, featuring five display showrooms and 10 working bays.

Its inauguration is slated January 2024.

PEE STOP The Lexus All-New RX is coming to town. Billed to be unleashed November this year, the fifth genera tion muscle is 198 pounds lighter than its predecessor. That’s a lot of weight slashed. Fuel efficiency assured to the max? Cheers, RTR-san!

AMONG all the spectacles during the recently concluded 8th PIMS, the displays of fullelectric and hybrid vehicles are one for the books. Never in the history of Philippine motor shows has such an extensive roster of green machines showcased the advent of sustainable mobility.

TMP’s roster of hybrid vehicles