Edge Davao Vol. 15 Issue 64 | Tuesday, June 28, 2022 by Edge Davao The Business Paper

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Sara cautions Baste on challenges he will be facing as city mayor STORY ON PAGE 2

Incoming Mayor Sebastian “Baste” Duterte kisses the hand of his father, President Rodrigo Duterte, after he took his oath at Sangguniang Panlungsod session hall on Monday. Edge Davao

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2 NEWS EDGEDAVAO

VOL.15 ISSUE 64 • TUESDAY, JUNE 28, 2022

HEADS-UP

Davao City Mayor-elect Sebastian “Baste” Duterte takes his oath of office accompanied by family members led by his father, President Duterte, his mother Elizabeth and sister, Vice President-elect Sara at Sangguniang Panlungsod session hall on Monday. Edge Davao

Sara cautions Baste on challenges he will be facing as city mayor By MAYA M. PADILLO

ice President-elect Sara Duterte gave her brother-successor Sebastian “Baste” Duterte a portent of things to come when he assumes office as Davao City mayor on June 30, 2022. The outgoing executive is referring to ways not to increase prices too much due the ongoing war between Russia and Ukraine. “Naa lang medyo challenging ang pagsulod niya as mayor because ang kalisod sa mga umaabot

na mga adlaw mag worsen pa gyud na tungod sa epekto sa giyera sa Russia ug Ukraine like prices will continue to increase ug ang challenge niani nga dili mu-increase ug ingon ana kadako na mugukod siya sa kinahanglan nato nga mga gastuson. Mao ni

ang medyo peculiar sa iyahang paglingkod as mayor,” Duterte said during the last episode of the Special Hour with Outgoing Mayor Inday Sara via Davao City Disaster Radio (DCDR) on Monday. Duterte, however, assured Dabawenyos that the incoming mayor already has knowledge regarding what Dabawenyos want and it is a livable Davao City. “Dili first timer kumbaga sa politics ang uma-

abot na mayor sa Davao because he grew up in politics. He grew up na nakita niya ang governance not only diri as Davao but national from the administration of former president Fidel Ramos, former president Gloria Macapagal-Arroyo, former president Benigno Aquino III, and of course President Duterte while he was growing up. Naa pud siya usa ka term sa atoang Sangguniang Pan-

wants. “Yes, the same bill that I filed during the 18th Congress, ipa-file ko ngayon doon sa 19th Congress. At titingnan ko kung mayroong proposal ‘yung Office ng Vice President na gagawin nila, isa-submit sa akin, then I am willing to author such a bill na gusto nila, ‘yung version na gusto ni Vice President Inday Sara (Duterte),” he said.

Under Dela Rosa’s proposal, the mandatory ROTC program will be introduced in Grades 11 and 12 in both public and private schools. An advanced ROTC will also be available in the first two years of higher education for those who want to become officers. He added that his ROTC bill is a mild version compared to the mandatory two-year military service

that Vice President-elect Duterte proposed. “Mas mild itong aking version, kumpara mo doon sa version na, I have heard, if I’m correct, ‘yung version ni Vice President Inday Sara, di ko siya pangungunahan… ‘yung aking narinig ay ‘yung talagang mandatory military training to all the youth like the Korea, Singapore versions (na) kailangan na drafting talaga, two years

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Mati City spends P5M for rehab of PWUDs

he city of Mati LGU has spent roughly P5 million for the rehabilitation of persons who use drugs (PWUDs) since 2019 during the first term of Mayor Michelle Nakpil Rabat. This was the estimate made by Mati City Anti-Drug Abuse Council (CADAC) focal person Jose Moring during last week’s 2nd quarterly meeting of CADAC along with the City Peace and Order Council. In his report, Moring said that since 2016 to present, 458 drug pushers have been apprehended. Of this, 177 have been admitted to Balay Silangan rehabilitation center with the City of Mati LGU paying for their rehabilitation since 2019 to present amounting to P5.5 million. Based on the CADAC data, there are 814 drug users that graduated from CBDRAP and will be

enrolled to Yakap Bayan Program. At present, 166 PWUDs have already been enrolled to the Yakap Bayan Program with the Department of Social Welfare and Development pledging P100,000 assistance for the 166 PWUDs. There are 153 remaining persons who use drugs (PWUDs) who will be enrolled to CBDRAP. The City of Mati has two remaining barangays that are considered as “drug-affected” by the authorities. Of the 26 barangays, Central and Dahican are the two remaining barangays that have not yet been declared as drugcleared. PDEA Davao Oriental officer Eleazar Arapoc meanwhile said that the PDEA is also doing its best, in coordination with the Mati PNP and Mati City LGU, to clear baran-

drafting doon sa military, which ako, nakita ko mas mahirap palusutin ‘yan. It will face a stiff opposition,” Dela Rosa said. In the run-up to the 2022 national elections, Duterte said she wanted the Philippines to have mandatory military training and service similar to those of South Korea and Israel. The ROTC or the erstwhile mandatory military

training in college was made optional in 2002 following the death of Mark Chua, a University of Santo Tomas student. He was allegedly slain by course officers after exposing ROTC fund mismanagement. ROTC is now one of the 3 components of the National Service Training Program, along with Civic Welfare Training Service (CWTS) and Literacy Training Service (LTS).

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Dela Rosa to refile ROTC bill amid VP-elect Duterte push

enator Ronald “Bato” Dela said he will be refiling his mandatory ROTC (Reserve Officers’ Training Corps) bill in the 19th Congress once it opens on July 25, 2022. In an interview, Dela Rosa said he will file the same bill he filed during the 18th Congress, but he also expressed willingness to file another bill based on what Vice President-elect Sara Duterte

EDGEDAVAO

VOL.15 ISSUE 64 • TUESDAY, JUNE 28, 2022

NEWS

President Rodrigo Duterte delivers a speech during the oath taking and inauguration of the newly-elected officials of Davao City and the House of Representatives at Sangguniang Panlungsod session hall on Monday. Edge Davao

Pulong a ‘no-show’ again in Baste’s inauguration VP-elect Sara lauds activation of VPSPG

ice President-elect Sara Duterte commended the activation of the Vice Presidential Security and Protection Group (VPSPG), saying it will resolve the matter of continuity in security for all vice presidents of the Philippines. Last week, the Armed Forces of the Philippines (AFP) has created VPSPG, a new security unit dedicated to ensure the safety and security of the Vice President of the Philippines and her family. “Allow me to extend my gratitude to Department of National Defense Secretary Delfin Lorenzana and the entire DND organization and Armed Forces of the Philippines Chief of Staff Gen. Andres Centino and the whole of AFP for the positive response and action to the request that a security unit separate from the Presidential Security Group be created and be assigned to the Office of the Vice President,” said Duterte in a statement issued over the weekend. Duterte said the ini-

tiative of AFP also highlights the importance of having an independent group that will provide all Philippine vice presidents with the necessary security and protection. “That foresight was demonstrated in this activation was likewise highly laudable — that it may be expected to solve the challenges if, in future elections, the vice president and the president face the misfortune of having strained relations,” she added. The AFP shared online that the activation of the VPSPG, which is formerly the Vice Presidential Security Detachment attached to the Presidential Security Group, is now a separate unit and is headed by an O-6 grade officer (rank of Colonel/Navy Captain). It also stated that the AFP saw it fitting to provide the Office of the Vice President with a dedicated unit that shall ensure the safety and security of the second-highest elected official in the country. By Maya M. Padillo

By MAYA M. PADILLO

President-elect Sara Duterte on June 19, 2022 that was also attended by the President. “Ug kung makit-an ninyo siya ingni na nangita iyang papa sa iyaha,” the President said in his

speech. The President was introduced by the Vice President-elect as the guest of honor. He opened his possible last speech as President of the Republic of the Philippines, with a joke. “This is a very weird coincidence in history because ang presidente ug ang bise presidente sa Pilipinas, Duterte. Wala pa man mu-take oath si President-elect Marcos until such time I am the President and the President and the Vice Presi-

dent is a Duterte so unsa bay gusto nato? Angkonon na lang nato tanan. Nia naman gyud ta, kompleto na. Kamong mga military ug pulis, unsa man hunahuna ninyo?” said the President. Meanwhile, the incoming Mayor took his oath at the session hall of SP administered by Judge Loida Posadas-Kahulugan and transferred to the City Hall to deliver his inaugural speech that was witnessed by guests and Dabawenyos who already packed the area.

ment and operational expenses in the past. “The health department has agreed to pay, but we are not in hurry to collect more than PHP100 million,” Tamayo said during the MOU signing ceremony on Friday afternoon. SGH chief Dr. Ceril Borromeo said after complying with all the needed requirements, they will immediately process the application for Level 1 of the hospital, and subsequently for Level 2 to operate as a regional hospital by January next

year. “We will process the licensing, aside from the 75-bed capacity, we have the delivery room and operating room and the rest of the requirements for level 1, Borromeo said in a separate interview Saturday. “The only additional requirement for level 2 is the intensive care unit (ICU). we already have areas plan, floor plan for everything, we need to upgrade the SGH because as of now it is only a general hospital,” she said.

Borromeo added that once the hospital will be upgraded to Level 2, it would increase its bed capacity from 100 to 300. With this, she hopes the hospital will be opened again to the public in August this year. Currently, she said there is no admission at the SGH, with their staff undergoing training to upgrade their capabilities, and at the same time conducting outreach programs in Surallah and the adjacent municipalities.

resident Rodrigo Duterte was the guest of honor in the oath-taking and inauguration of incoming Mayor Sebastian “Baste” Duterte and the newly-elected officials of Davao City and the House of Representatives on Monday at the session hall of the Sangguniang Panlungsod (SP) on Monday.

However, Presidential son Congressman Paolo “Pulong” Duterte did not attend the event. It can be recalled that the congressman also failed to show up during the inauguration of Vice

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SGH to become reg’l hospital in 2023

he South Cotabato provincial government has turned over the management of the Soccsksargen General Hospital (SGH) in Surallah municipality to the Department of Health (DOH) for its transition to a regional hospital. Governor Reynaldo Tamayo Jr. said Saturday the transfer came about after the signing of the memorandum of understanding (MOU) for the payment of the DOH of PHP100 million to the provincial government for the SGH develop-

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VOL.15 ISSUE 64 • TUESDAY, JUNE 28, 2022

On her thoughts how her brother-successor Mayor Sebastian “Baste” Duterte will fare as the new local chief executive:

Dili first timer kumbaga sa politics ang umaabot na mayor sa Davao because he grew up in politics.” Vice President-elect Sara Duterte

EDGEDAVAO

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EDGEDAVAO

VOL.15 ISSUE 64 • TUESDAY, JUNE 28, 2022

VANTAGE POINTS

HENRYLITO D. TACIO THINK ON THESE!

KIDNEY DISEASES ON THE RISE Kidney diseases are becoming a growing problem in the Philippines. The Department of Health (DOH) reported that one person dies every hour from kidney failure. More than 7,000 cases of kidney failure in the country are recorded every year. This puts kidney disease in the list of the top 10 leading causes of death among Filipinos. Dabawenyos should better watch out. Since 2017, Davao City “continues to rank third in the country with the most number of kidney diseases,” said a report from the Philippine News Agency (PNA). Source of the information was Dr. Theresa Bad-ang, chairperson of the Renal Transplant Section of the Nephrology of the Southern Philippine Medical Center (SPMC). “The life that we have is dependent on the organs that we take care of, so kidneys (are) one of those organs na matiisin (patient). Hindi sila umiimik until sira na sila (They do not budge until they are already deteriorated),” said Dr. Bad-ang during a briefer as the country observes National Kidney Month. As the person ages, his or

her kidneys slowly decline their functionality. The kidneys of people who are 35 years old and younger are 100 percent healthy and functioning well. But by the time he or she reaches the age of 36, the functionality of his/her kidneys is reduced by one percent each year. So much so that by age 55, “people would have lost 20% of kidney’s functionality,” Dr. Badang surmised. People with an unhealthy lifestyle, which includes eating habits or an unbalanced diet, are most likely to have kidney troubles. Unhealthy lifestyle usually causes diabetes and high blood pressure. Those who are hypertensive lose two percent of functionality of their kidney each year, while those who are diabetic lose five percent of their kidney’s functionality per year, according to Dr. Bad-ang. “Diabetes and high blood pressure patients are key risk factors for chronic kidney disease,” pointed out Dr. Filoteo Ferrer, assistant training officer of the Nephrology Department at Makati Medical Center (MMC). The kidneys, two bean-

shaped organs which measure about 4-5 inches each, produce urine from waste products removed from the blood. While most people have two kidneys, there are few who are born with only one. “All functions normally performed by two kidneys can be carried out adequately by one healthy kidney,” according to The Merck Manual of Medical Information. Unknowingly, health problems affecting the kidneys are becoming common compared to in the past. If you go to a street and ask an average man what medical problem they fear most, they would either mention stroke or heart attack. “Many Filipinos don’t realize that developing kidney failure can be just as disabling and life-threatening,” says Dr. Rafael R. Castillo, a health columnist of Philippine Daily Inquirer. Dr. Roy Diamond Arco, nephrologist of Silliman University Medical Center, says signs of kidney disorders include high blood pressure, body itching, anemic, swelling of lower extremities, and urinating more often, especially at nighttime. Dr. Agnes Mejia, a kidney and hypertension specialist, said once a person’s kidney has

been damaged, the only options to prolong a patient’s life would be chronic dialysis or kidney transplant. According to medical experts, dialysis is a way of cleaning the blood when the kidneys can no longer do the job required from them. Dialysis gets rid of the body’s wastes, extra salt and water aside from helping control the blood pressure. Actually, there are two kinds of dialysis: hemodialysis and peritoneal dialysis. “In hemodialysis, blood is pumped out of your body to an artificial kidney machine, and returned to your body by tubes that connect you to the machine,” explains the US-based National Kidney Foundation (NKF). “In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid called dialysate, which is washed in and out of your belly in cycles.” The Philippine Health Insurance Corporation (PhilHealth) spends over P2,000 per session for a dialysis patient. “There are so many people who are in dialysis right now,” Dr. Bad-ang said. “In fact, Phil-Health has released some P2 billion for

patients in dialysis during the pandemic. “On average, a patient receives dialysis treatment 90 days per year but the approved payment of benefit claims for hemodialysis services have recently been maxed to 144 sessions, as stated in the PhilHealth Circular 2021-0009,” PNA reported. Kidney disease, particularly end stage renal disease (ESRD), is now one of the leading causes of death among Filipinos, recent statistics show. For patients with ESRD, a kidney transplant is often the only hope for survival. Dr. Enrique Ona, who used to be the director of National Kidney and Transplant Institute (NKTI) before he became health secretary, said that kidney transplantation is cheaper than dialysis “in the long-term.” “Moreover,” he added, “survival rates and quality of life in transplants are much better.” But the problem is: only very few Filipinos are willing to donate their kidneys. So much so that the SPMC, said Dr. Bad-ang, “is holding an organ donation awareness campaign for the entire month.”

ANTONIO V. FIGUEROA FAST BACKWARD

TALLANO’S GOLD AND BUHANGIN Decades of researching historical narratives at times bring out extra-worldly stories that mesmerize the least inquisitive and the most ordinary among us. Even stories that defy logic and accounts that transport us to the realm of the netherworld also fascinate our childish attention. Nothing beats, though, the fantastic story of Tagean Tallano who owned a vast amount of gold and whose heirs now live in Buhangin, Davao City. Where exactly, the claims do not say. The popular (and notorious) Tallano stash is not your regular legend that lays claim to the archipelago, where gold was mined, using a supposed English document OCT 01-4 dated January 17, 1764, when Manila was placed under British rule. Oddly, it exempts the region of Ilocos Norte, the much-touted ‘Solid North’ of the Marcos clan. (OCT means ‘original

certificate of title’.) British journalist and filmmaker Robert Donald ‘Bob’ Couttie wrote an 11-part treatise and made a vlog exposing the implausible claim before he died on September 21, 2021. His discoveries are no less than astounding. He did not only pierce holes in the narrative, he alsodebunked the entire claim, calling the land title ‘a clumsy hoax,’ declaring there is no such thing as the kingdom of Maharlika, Hacienda Filipina, or a Christian king named Lusong. The bogus document was supposedly issued under the authority of the Royal Audiencia in Manila when Manila was controlled by the East India Company, a takeoff from Dutch East India Company that sealed a deal for the lease of Sabah to the British firm. OCT 01-4 was purportedly

signed by Dawsonne Drake, then British governor of Manila, and witnessed and signed by George III, the King of England. There is no record whatsoever that a royal scion from Britain had visited the islands then and now. Royal signing of a deed, more importantly, is not possible without the approval of the Parliament. One of the document signatories is Jose Antonio Raon y Gutierrez as proprietary governor of the islands. This is fraudulent because he only took office as a governor-general of the country on July 6, 1765, nearly thirteen months before he supposedly notarized the title. At the time OCT 01-4 took effect, he was still the royal governor of Panama. But there are more incoherent details. The document cites Ilocos Sur but skips Ilocos Norte which is the mother province. Ilocos

Sur was only created in 1812, forty-eight years after the signing of the document. La Union, meanwhile did not exist until 1854 upon its creation by Queen Isabella of Spain by royal decree. Interestingly, the 1764 document mentions of ‘hectare’ as a land measure at a time when no country in the world was using it. Even the name Palawan has been misappropriated given that it was only used following the enactment of Philippine Commission Act No. 1363 of 1903. Also cited is the word ‘Spratly,’ which is named after British Captain Richard Spratly on March 29, 1843, seventy-nine years after the supposed title took effect. For some reason, the document also mentions Princess Rowena Maria Elizabeth Overbeck McLeod of Austria in the introduction. The name

Overbeck, which is an Austrian name, reminds us of Gustav Overbeck who offered a deal to lease Sabah. Couttie explains that Overbeck, born in 1830 but was not Austrian, ‘was not of royal blood, was made a baron in 1864, did not visit South East Asia until 1860,’ adding that ‘the female offspring of barons are not princesses.’ The name McLeod, on the other hand, is British which is linked to Rev. Norman McLeod, a friend of Queen Victoria who married in church rites Victoria and John Brown. The only other Mcleod in memory was Neil McLeod, who opened a company in the Philippines in 1870. All told, the Tallano land title and gold claim, aside from being a fraud, is nothing but a creative fancy of whoever pretends the bogus narrative. And, there is no such thing as Buhangin heirs.

EDGEDAVAO

VOL.15 ISSUE 64 • TUESDAY, JUNE 28, 2022

SPORTS

EDGEDAVAO

Panabo’s Mark Barriga would prove to be a tricky opponent as the 2012 Olympian from Panabo City, Philippines, walking Gonzalez into counter right hooks and left hands early on.

Barriga loses in title bid

onathan “Bomba” Gonzalez overcame a strong first half by Dabawenyo fighter Mark Anthony Barriga to hustle his way to a unanimous decision victory Friday to retain his WBO junior flyweight belt. The three judges scored the bout 115-113 and 117-111 on the two remaining cards at the Osceola Heritage Park in Kissimmee, Fla., preserving the 31-year-old Gonzalez’s status as the lone

male world titleholder from Puerto Rico. The fight was the first defense of the belt that Gonzalez (26-3-1, 14 knockouts) won by split decision last October over Elwin Soto.

PULONG... FROM3

The younger Duterte described his inaugural speech as “straightforward” highlighted with his priorities as the city mayor with economic recovery and poverty alleviation will be at the forefront of his administration. He assured that the city government of Davao will make sure that businesses will continue to operate, job opportunities will be available and the city will remain safe. He also said the local government will work closely with the business sectors, local and foreign, to explore more investment opportunities in Davao City. “To our local business community the city government is open to listen to your suggestions and work with you in enhancing the business climate in

the city,” he said. The incoming mayor will be pushing for the digitalization of public transactions and the delivery of government services. “It is high time that we upgraded our services on par with international standards. Let us take advantage of the latest available technology and let us ensure global competitiveness when it comes to government operations. Digital transformation is not an easy task but with your support this can be achieved,” he said. He also wants red tape and fixing to end immediately and urged the public to report them to the authorities, to the City Mayor’s Office (CMO) and to the Anti-Red Tape Authority (ARTA). He added that the city government of Davao will

Barriga would prove to be a tricky opponent as the 2012 Olympian from Panabo City, Philippines, walking Gonzalez into counter right hooks and left hands early on. Barriga (11-2, 2 KOs) didn’t have the power hurt Gonzalez, whose three previous losses were by knockouts to bigger punchers than Barriga. Gonzalez began to establish his dominance

continue it’s modernization initiatives, boost the agricultural sector, as well as continue the waste-to-energy (WTE) project. He urged Dabawenyos to strengthen the Culture of Security. “As a city mayor it is my duty to ensure the effective and full implementations of the laws of the city. My mandate is clear to protect and promote the well-being of the general public,” he said. “The trust and confidence given to me will be my inspiration in the next year’s as your city mayor. No one will be left behind in our journey towards a much stronger city and much better future for our people” he added. Thirty-four years old Duterte served as Davao City Vice Mayor since 2019.

in round ten, as Barriga loaded up wildly on his punches to try to put the fight away, but ended up missing more. Gonzalez used his size and boxing skill to back Barriga off with jabs, and pushed the pace as Barriga faded late. Barriga, 29, has now lost in his two world title attempts, having dropped a split decision to Carlos Licona in December of

2018 for the IBF strawweight title. In the co-main event, Angelino Cordova (170-1, 12 KOs) pulled off a minor upset, defeating Axel Aragon (15-5-1, 8 KOs) by a ten round split decision. One card had it 97-93 for Aragon, while the other two had it 9793 and 98-92 for Cordova, 26, of Caracas, Venezuela but who now trains out of Park Elite Boxing

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lungsod nakita nato nga na emphasize sa iyaha what the people”s want is very simple na they want a livable city where they can live, work, and play,” she said. Duterte reassured that the Office of the Vice President (OVP) is open for the incoming mayor if he has anything to consult to her.

“We are hopeful and we are excited na duna tay nag-ong mayor dinhi sa syudad sa Davao. I want to reaasure him that we the office of the Vice President will be opened for him if he has anything to consult on and kung duna mi ma-assist sa iyaha dinhi para sa pag serbisyo niya sa syudad sa Davao,” she said.

gays Central and Dahican of illegal drugs. He admitted that considering that the two barangays are the center of commerce in the city, the demand for illegal drugs is also high since people in these two barangays have the capability to buy them.

Arapoc however said that nothing is impossible with the help of everyone. He suggested to strengthen the implementation of drug-free workplace policy program in the local government as well as implementing sustainability program for drug-cleared barangays. (CIO MATI)

MATI... FROM2

Academy in Roselle Park, N.J. under trainer Percy Gayanilo. The win was Cordova’s second against a fighter with a winning record, and comes just two fights after Aragon’s spirited challenge of WBA junior flyweight titleholder Hiroto Kyoguchi, whom Aragon outfight early on before a hand injury forced the fight to end in the fifth.

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has a contract for a RIZIN appearance in September. Therefore, the earliest McGregor II could happen is around November or December, notoriously slow months for Pay Per View. Fresh off of his induction into the International Boxing Hall of Fame this past weekend, Mayweather heads back to the land of the rising sun to work with RIZIN CEO Nobuyuki Sakakibara. He faces another MMA star in Mikuru Asakura. Mayweather previously fought in Japan on New Year’s Eve 2018 in an exhibition against kickboxing star Tenshin Nasukawa. RIZIN will announce additional information regarding the September event later this month.

A1 ECONOMY EDGEDAVAO

VOL.15 ISSUE 64 • TUESDAY, JUNE 28, 2022

A Sunday morning scene at the Jolo wharf is framed by Sulu’s Grand Masjid Tulay (left) and the mountain, Bud Tumantangis, on 26 June 2022. MindaNews photo by GAMSON JR MAWALLIL QUIJANO

Gov’t rice imports tax collection up 14% in first 5 months —DOF T ric tons of rice imported during the period, or 36.9% higher than the 1.04 million metric tons recorded in the comparable period of 2021. “The BOC managed to keep its collections on rice import tariffs on track despite the continued drop in the average value of rice in the world market,” the DOF

said in an emailed statement. The global average price of rice hit P16,712 per metric ton in the first five months of the year, higher than the P19,977 per metric ton in 2021. This comes as the Rice Tariffication Law took effect on March 5, 2022, which effectively imposed 35% tariffs on imports from neighbors in Southeast Asia. It was signed into law by President Rodrigo Duterte in February of the same year. Also, the measure allows unlimited importation

of rice as long as private sector traders secure a phytosanitary permit from the Bureau of Plant Industry and pay the 35-percent tariff for shipments from neighbors in Southeast Asia. The law earmarks P10 billion for the Rice Competitiveness Enhancement Fund (RCEF), of which P5 billion will be allotted to farm mechanization and P3 billion to seedlings. The fund intends to ensure that rice imports won’t drown out the agriculture sector and rob farmers of their livelihood.

in a statement. The BSP on Thursday raised the benchmark borrowing rate to 2.5 percent from 2.25 as inflation continued to accelerate. Inflation quickened to 5.4 percent in May, above the 2 to 4 percent target rate and is seen to remain elevated this year. “We at Fitch Solutions now expect the Bangko Sentral ng Pilipinas to hike its policy rate to 3.25 percent

by end-2022, up from our previous forecast of 2.75 percent,” it said. “Over the coming months, mounting inflationary pressure and rising global interest rates will prompt the BSP to adopt a more hawkish stance in our view,” it added. Inflation estimates by the central bank were also revised upwards to 4.6 percent average from the earlier forecast of 4.2 percent for

2022. It is also seen to settle at 4.2 percent in 2023 from the earlier estimate of 3.9 percent, the BSP said. Revisions were attributed by the central bank to the continued acceleration of world crude oil and other global commodity prices, the war in Ukraine, the slowdown and supply disruptions in China as well as the tightening of interest rate in developed economies such as the US.

he Bureau of Customs (BOC) has collected P8.35 billion from rice import tariffs in the first five months of the year, marking a double digit growth from the same period in 2021, due to the higher shipments that entered the country.

According to the Department of Finance (DOF), the latest collections from rice import tariffs reflected a 14% increase from P7.32 billion covering January to May of the past year, driven by the 37% increase in import volumes. The latest collections covered 1.43 million met-

BSP may hike rate to 3.25% in 2022 due to inflation, says Fitch Solutions

he Bangko Sentral ng Pilipinas may hike its key policy rate to 3.25 percent by the end of the year, Fitch Solutions said Monday, after revising its forecast higher due to “mounting inflationary pressures.” The new estimate is higher than the previous forecast of 2.75 percent, after the central bank hiked interest rate by 25-basis point during its monetary policy meeting last June 23, Fitch Solutions said

Nuke power may lower electricity cost, ERC advises next admin

he Energy Regulatory Commission (ERC) on Sunday told the incoming Marcos administration that adding nuclear energy in the country’s power mix may lower the cost of electricity in the country. ERC chairperson Agnes Devanadera was asked what she could recommend to the next administration to address the current problems in the country’s power supply. “Kailangan ma-determine ng pamahalaan ano talaga ang energy mix. Anong percent ang renewable energy, anong percent ang coal, anong percent ang biomass? Isama na ang nuclear kasi ang hinahanap natin ay reliable and reasonably priced source of energy,” she said. “Ang nuclear, isa yan sa posibleng makapagpababa ng ating cost ng kuryente at ‘yan naman, iba ang technology sa nuclear. Hindi naman kailangan katulad ng Bataan Nuclear Power Plant na pagkalaki-laki. Meron na tayong modular

na mas madaling itayo,” she added. (The government needs to determine what the country’s energy mix should really be. What percent is renewable energy, the coal, the biomass? Nuclear power should also be included because what we are looking for is a reliable and reasonably priced source of energy. Nuclear is one of the possible ways to lower our electricity costs and it uses a different technology. It doesn’t need to be like the huge Bataan Nuclear Power Plant because we already have modular power plants that are easier to build.) Devanadera said this after the National Grid Corporation of the Philippines (NGCP) placed the Luzon Grid under yellow alert status last week. A yellow alert status indicates that the grid has thin reserves based on the difference between supply and demand, with 11,959 megawatts of available capacity versus the 11,350 megawatts peak demand.

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ECONOMY

Visitors gather in front of a booth kitchen and restaurant equipment during the last day of World Food Expo Davao 2022 at SM Lanang Premier’s SMX Convention Center over the weekend. Edge Davao

Conglomerates investing $20 million for AI center Transport groups warn of fewer PUV amid expected diesel hike

ransport groups warned that commuters may face more difficulties in securing rides given another pump price hike expected this week. According to Samahan Ng Mga Transport Operators Ng Pilipinas Managing Director Juliet de Jesus, there may be fewer vehicles plying the roads in the coming week should there be another increase in the domestic pump prices. “Asahan po ninyo, kung nagkulang man ng sasakyan nitong week na ito, baka mas marami po magkukulang by next week kung sakali po ayan na naman, meron na namang increase sa diesel,” de Jesus said. (Expect that if there was a deficiency in public vehicles in the past week, there may be an even bigger deficiency by next week in case there will be another increase in diesel.) Oil industry sources expect prices of diesel to be hiked by between P1.00 and P1.30 per liter this week, while gasoline prices can either be hiked by P0.10 to P0.20 per liter or rolled back by P0.05 per liter.

Data available from the Department of Energy indicate that the year-to-date adjustments stand at a net increase of P28.70 per liter for gasoline, P41.15 per liter for diesel, and kerosene by P4.85 per liter as of June 14, 2022. According to de Jesus, the government should consider scaling back the excise taxes on petroleum products by half or scrapping such tariffs. There have been several proposals in Congress to suspend the excise taxes on fuel, which the Department of Finance (DOF) has continued to resist due to the foregone revenues the measure will cause. For his part, Alliance of Transport Operators and Drivers Association (ALTODAP) President Melencio “Boy” Vargas said the group is now awaiting the second tranche of the fuel subsidies. “Napakalaking tulong ‘yon dahil siyempre, P6,500 ‘yon kahit papaano. Kung hindi kami makapagtataas kaagad ng pamasahe, napakalaking bagay non. Mga ilang araw papakinabangan ng mga driver ‘yon,” he said in the same report.

part of that. They’re funding it, putting equity,” Lopez said. The private sector is already preparing the registration with the Securities and Exchange Commission, Lopez added. The NCAIR is part of the national program that targets to accelerate the adoption and use of AI for industrial development

and high-paying jobs for Filipinos. According to research firm Kearney, adoption of AI in the country will help the country increase gross domestic product to 12 percent in 2030, or an additional USD92 billion for the economy. DTI unveiled the AI roadmap in May last year. Amidst the Fourth Industrial Revolution, DTI’s vision to develop AI is part of its Inclusive Innovation Industrial Strategy (i3S) that will drive the competitiveness of the country’s industries.

“The N-CAIR will build the capacity of companies to produce new products, processes, and services using AI. It will help them apply AI in their operations to, among many potential AI applications, avoid spoilage of agricultural produce, predict maintenance of equipment and optimize processes in factories, and enhance their business decision-making through advanced analytics – leading to more operational efficiencies and innovation,” Lopez said then. (PNA)

JFC said in a disclosure to the stock exchange. In the first quarter of the year, JFC said it opened 107 new stores, wherein 19 are in the Philippines, 19 in China, 9 in North America, and 13 in Europe, Middle East, Africa and Asia (EMEAA) as well as 19 stores for SuperFoods and 28 stores for Coffee Bean and Tea Leaf, Jollibee Group CEO Ernesto Tan-

mantiong said during the company’s shareholders’ meeting held Friday. It 2021, it rebounded with an operating income at P6.3 billion which is almost the same as its pre-pandemic level of P6.5 billion, JFC said. Last year, JFC said it opened 399 stores with a total capital expenditure of P7.9 billion, of which 314 were international loca-

tions. “We achieved this through continued strong cost and profit management, as well as initiatives that adapted to changing consumer habits such as strengthening our off-premise capability, increasing our presence in major digital platforms and introducing exciting new products,” Tanmantiong said.

ig companies in the country will invest USD20 million (around PHP1 billion) to establish a shared hub for artificial intelligence (AI) research.

Department of Trade and Industry (DTI) Secretary Ramon Lopez said in a recent interview that conglomerates are funding the National Center for AI Research (NCAIR) to position the country as an AI Center for Excellence in Southeast Asia. “I will tell you that the biggest conglomerates in the country agreed to be

JFC posts P2.3-B net income in Q1, opens 107 stores worldwide

he Jollibee Group said it had a strong start in year 2022 with a P2.3-billion net income and its continued global expansion following significant investments the previous year. The P2.3-billion net income attributable for equity holders in the first quarter is a significant increase from the P152.6 million in the first quarter of 2021,

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Floyd Mayweather thinks it’s too risky to fight Manny Pacquiao again.

BACKING OFF

Pacquiao too risky as Mayweather goes back to McGregor rematch

loyd Mayweather bypassed Manny Pacquiao talks for a second fight with Conor McGregor.

That’s according to Mayweather’s number one news source. Reports surfaced that the five-weight world champion is eyeing a second big-money clash with McGregor despite dominating the Irishman in 2017. The pair engaged in an exhibition-style sanctioned boxing match five years ago. For the first three rounds, Mayweather hardly threw a punch. McGregor, a double UFC champion in MMA, was like a fish out of water despite holding a background in the sport from his teenage years. As soon as Mayweather upped his work, the Irishman was in trouble. Eventually, he put “The Notorious” out of his misery in the tenth round. Mayweather vs McGregor 2 Now, despite no real clamor for another helping, Mayweather and McGregor are putting the feelers out there. “Floyd Mayweather and Conor McGregor are currently in talks for a potential rematch. If it happens, expect Mayweather to pocket another nine-figure payday,” said Fighthype.com. It’s highly likely that Mayweather is behind the post and gave it the green light. It’s no

secret that this media outlet is his go-to when there’s news to break. The release is certainly only to gauge exactly where the interest lies in the fight. It seems like another test to see if both can achieve another money grab. Their first Pay Per View sold over four million. If they could get half that now, they would gross the highest PPV event since their initial battle. Nobody, barring Mike Tyson and Roy Jones Jr. in their legends match-up, has come close to that since 2017. However, it would also be a miracle as there is slim to no actual want for Mayweather vs McGregor 2. Facing Manny Pacquiao again in a return of their 2015 record-breaker would be the way to go for Mayweather if he’s serious about getting over two million buys. But with Pacquiao only retired for one year, it’s undoubtedly far too risky for Mayweather to consider, even though they held discussions regarding a Middle East fight in 2020. If he lost, his ego would never recover. Right now, Mayweather

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