BusinessWeek Mindanao (May 24-25, 2023)

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Market Indicators FOREX PHISIX AS OF 6:00 PM MAY 23, 2023 (TUE) 6,603.56 17.27 points 0.10 cents

Week of peace

MARAWI City – The Department of Public Works and Highways turned over three completed integrated school buildings to the Department of Education as part of this year's Marawi Week of Peace celebration.

DPWH-10 focal person for Task Force Bangon Marawi Engr. Mikunug Macabantog said the three four-story school buildings were constructed and followed DepEd’s standard on classroom construction where each building consists of 20 classrooms.

The school building also includes other facilities such as a reservoir, water system, comfort rooms, lighting, and sprinklers that can be used for emergencies.

Basilan highways

DEPUTY Minority Leader and Basilan Rep. Mujiv Hataman on Tuesday said he has filed bills seeking the conversion of 15 provincial, municipal and city roads into national highways to ensure their maintenance and repair by the national government.

Hataman filed all 15 bills on May 17, including House Bill (HB) 818 seeking to convert the 39.7-kilometer AguadaSumagdang-Junction Tairan provincial road in Isabela City into a national road.

He also proposes to convert into national highways the provincial roads in Basilan and the Junction BalagtasanTumakid-Junction Sengal and Junction Limook-DanitJunction Badja provincial roads in Lamitan City.

Biodiversity fund

THE United States government has awarded P240 million worth of grants to support the biodiversity conservation efforts of 11 select civil society organizations (CSOs) in the Philippines, the US Embassy in Manila announced Tuesday.

The amount will fund grants under the US Agency for International Development’s Investing in Sustainability and Partnership for Inclusive Growth and Regenerative Ecosystems (USAID INSPIRE) project, some of which would focus on wildlife protection and implementation of natural climate solutions.

The Mabuwaya Foundation, one of the recipients, plans to use their grant to protect the intact forests of the Sierra Madre mountain range in Cagayan by addressing illegal logging and conversion of forest lands for agricultural use.

By MYRNA M. VELASCO Contributor

A

T A GLANCE

Transmission firm National Grid Corporation of the Philippines (NGCP) said it is lining up several priority projects that will reinforce the country’s electricity network and backbone to support the distribution of bigger electricity loads.

The company emphasized that its investments’ pipeline had been “meticulously planned by our engineers and updated year after year with careful consideration for the needs of every single area in the country.”

Within this year, the

New transmission projects are highly necessary not just to boost the wheeling capacity of the transmission facilities, but also to ensure balance in the integration of massive variable RE capacities i(VRE) into the system.VANISHING TRADE. Park photographers share some light moments while waiting for customers at Quezon Park in Davao City. These aging photographers, who have been around for at least three decades already, admitted that the proliferation of smartphones has adversely affected their livelihood. MindaNews photo

five-hectare Kauswagan

High power demand boosts Alsons’ income in 1Q 2023

KAUSWAGAN, Lanao del Norte — The once wartorn town of Kauswagan, Lanao del Norte will host the 6th Organic Asia Congress together with the International Federation of Organic Agriculture Movement (IFOAM) Organics Asia.

The convention will take place on June 4-9 at the

International Organic Convention Center in sitio Tangkig, a coastal village in Barangay Tacub.

Mayor Rommel

C. Arnado, National President of League of Organic Agriculture, Municipalities, Cities and Provinces (LOAMPC) said the congress will focus on organic agriculture and

GROWING power demand in the Mindanao grid boosted the Alcantaraled Alsons Consolidated Resources Inc. (ACR) to register a 67 percent increase in net income to P542.27 million in the first quarter this year from P342 million in the same period last year. Following that level of

profitability, the company similarly noted that its earnings attributable to the parent firm significantly jumped by 73 percent to P155.84 million versus a leaner P90.16 million in the same period last year.

In terms of revenues, the Alcantara firm likewise logged a sizeable 24-percent

growth to P3.31 billion from P2.67 billion within the same January-March stretch last year.

According to ACR Deputy Chief Financial Officer Philip Edward B. Sagun, “the first quarter of 2023 saw steady power demand from our key power

South Cotabato wants to take control of electric co-op

By BONG S. SARMIENTO MindaNews

READY. Kauswagan, Lanao del Norte is all set for the 6th Organic Asia Congress. MindaNews

DAVAO City — Former Sarangani Governor Miguel Rene Alcantara Dominguez has joined the 60-year-old Alsons Development and Investment Corporation (Alsons Dev) as its new director who will oversee the business strategy and operations of the premier property developer and real estate pioneer in Davao City. Alsons Dev is the real estate

photo by RICHEL V. UMEL

KORONADAL City – The provincial government of South Cotabato has expressed interest to take control of an electric cooperative here “to improve its services as well as lower the cost of electricity that’s burdensome to consumers.”

South Cotabato Gov.

Reynaldo Tamayo, Jr. asked the management of the South Cotabato Electric Cooperative – I (Socoteco-I) to let the provincial government supervise management control of the distribution utility.

“There’s still a lot of wastage (system loss) that makes the price of electricity prohibitive to

consumers,” Tamayo said in the vernacular on Monday’s “Governor Meets the Press.” “If they can’t lower the cost, they should give up the management to the provincial government.”

With the provincial government taking control of Socoteco-I, Tamayo vowed to lower in the next few months to P10

NGCP/PAGE 7

Lanao del Norte town to host 6th Organic Asia Congress

By RICHEL V. UMEL MindaNews

Davao Sur agri-school to upscale bamboo industry

DAVAO City – The Department of Agriculture in Davao Region (DA-11) has recently turned over a P20- million Bamboo Rural Enterprise and Development (BREAD) project to the Davao del Sur State College (DSSC) in Matanao town, Davao del Sur province. In a Facebook post Monday, DA-11 Director Abel James Monteagudo said the BREAD project intends to upscale the bamboo industry by increasing productivity in the region. This can be

done, he said, by promoting, producing, and processing engineered bamboo as a substitute to the diminishing wood industry in the country. Agudo said the established bamboo processing hub, handed over to the DSCC on May 19, would also serve as a training facility for the youth, farmers, and other interested individuals. “Through this project, we are harnessing innovative technologies, implementing sustainable practices, and unlocking

new avenues for growth and prosperity, Monteagudo said. He also called on other government agencies to collaborate and amplify their efforts. Meanwhile, DSSC president Augie Fuentes lauded DA-11 for making the project a reality. “It unlocks the potential of the bamboo industry in providing sources of livelihood for rural communities in pursuit of economic development, environmental protection, and climate change mitigation,” she said. (PNA)

DA-Zambo Peninsula 'ready' for El Niño

ZAMBOANGA City – The Department of Agriculture in the Zamboanga Peninsula (DA-9) said it is ready to implement measures to help farmers cushion the adverse effect of the El Niño phenomenon expected to hit the region in the coming months. DA-9 Director Dennis Arpia said Monday that they see the El Niño phenomenon as an opportunity to use various technology that is already in place. “We look at these threats as an opportunity to mobilize the farmers and maximize the technology that we have

studied,” he said. He said the farmers can always seek for their assistance. “We will send out a technical team to teach the farmers how to address the effects of El Niño,” Arpia said, adding that farmers should plant before the start of El Niño. The Philippine Atmospheric, Geophysical and Astronomical Services AdministrationZamboanga office has issued an advisory to be ready against the expected occurrence of the dry spell that may start in July. Meanwhile, the DA has distributed

4,980 bags of fertilizer to the Zamboanga Sibugay provincial government for diminution to its farmers. Ronel Colcol, the DA-9 rice program focal person, said that each fertilizer bag weighs 50 kilos and was purchased through the agency’s rice program. He said those who have earlier received hybrid rice seeds from the DA-9 will be prioritized in the distribution of fertilizers. (PNA)

DEED OF EXTRA JUDICIAL SETTLEMENT WITH DEED OF ABSOLUTE SALE

Notice is hereby given that the late CATALINA E. GUDEN, who died on _________ at _________ left a certain parcel of land more particularly as follows, to wit; A parcel of land located at Poblacion Malitbog, Bukidnon, bearing Tax Declaration No. 14-0001-00143, with an area of FOUR THOUSAND EIGHT HUNDRED SQMTRS. (4,800) more or less Lot No. 43 is the subject of DEED OF EXTRA JUDICIAL SETTLEMENT WITH DEED OF ABSOLUTE SALE. Made and executed this ___ day of ____ 2019, at city of Cagayan de oro, Philippines, by the following: ALFREDO GUDEN, FREDELYN G. JAYSON, CINDY G. CELLAN & FREDERICK E. GUDEN, all of legal ages, herein referred to as HEIRS VENDORS: IN FAVOR ERNIE T. EVANGELISTA, of legal age, Filipino citizen, resident of Malitbog, Bukidnon, herein after called and referred to as the VENDEE ; That no personal properties are involved in the Extra Judicial Settlement. That to the best of knowledge of the herein PARTIES the decedents left no dept whatsoever; That We, ALFREDO GUDEN, FREDELYN G. JAYSON, CINDY G. CELLAN & FREDERICK E. GUDEN, herein referred to as VENDOR, for and in consideration of the sum of ONE HUNDRED FIFTY THOUSAND PESOS ONLY (Php 150,000,00) Philippine currency, in hand paid by MR ERNIE T. EVANGELISTA, of legal age, Filipino citizen and a resident of Malitbog, Bukidnon, receipt of the said amount is hereby acknowledge by the VENDOR to her full satisfaction by these presents. Whereas, the abovenamed parties by these presents hereby AGREED to DIVIDE SETTLE & ADJUDICATE among themselves the above-described of land subjects of this instrument executed. WHEREAS, the above described parcel of land is not lease, mortgage nor tenanted to anybody free from all liens and encumbrances whatsoever as per Doc. No. 386; Page No. 78; Book No. 26; Series of 2021. Under the Notarial Registry of ATTY. JOHANNE EMMANUEL G. AGUSTIN.

Diokno: P150 wage hike to worsen inflation by 1.4%

FINANCE Secretary

Benjamin Diokno said the proposed P150 minimum wage hike will increase inflation by about 1.4 percentage points this year.

"The implication of the P150 increase...it will increase inflation by 1.4 percent," Diokno told reporters in a briefing late Friday.

"So who will benefit from that? Who will suffer? Inflation this year is estimated at 5.5 percent, plus 1.4 percentage points

so that's 6.9 percent," he added.

The Development Budget Coordination Committee earlier raised the inflation projection this year to 5 to 7 percent due to the high prices of food.

Headline inflation already slowed to 6.6 percent in April from 7.6 percent in March.

The latest figure however is still way beyond the 2 to 4 percent target range of the Bangko Sentral ng Pilipinas.

Senator Ramon Revilla Jr. earlier filed Senate Bill 2002 or the Across-theBoard Wage Increase Act of 2023 which seeks to increase the minimum wage by P150.

"We have to explain to the policymakers what are the implications of having higher than expected wage increase," Diokno said.

Diokno noted that it would be better "to just continue the current system, which actually works."

(PNA)

Fitch changes outlook on PH from negative to stable

THE Philippines’ robust post-pandemic recovery and expansion along with sound economic policy framework made Fitch Ratings revised on Monday the outlook on the country’s credit ratings from negative to stable, and affirmed its ‘BBB’ rating.

“The revision of the Outlook to Stable reflects Fitch's improved confidence that the Philippines is returning to strong medium-term growth after the Covid-19 pandemic, supporting sustained reductions in government debt/GDP, after substantial increases in recent years,” the debt rater said in a commentary.

It also attributed this development to its reading that the country’s “economic policy framework remains sound and in line with 'BBB' peers, despite its low scores on World Bank Governance indicators.”

This latest ratings action on the country sustained the affirmations that the country received for its investment grade ratings even during the pandemic.

The credit rater forecasts medium term growth of over 6 percent for the Philippines,

BPI revises upward 2023 GDP forecast for PH

the domestic economy’s pre-pandemic growth level.

It explained that the level of its growth projection for the country is “considerably stronger than the ‘BBB’ median of 3 percent, after a record outturn of 7.6 percent in 2022.”

This growth level, it said, indicates “normalization of activity after the pandemic and the government’s investment programme.”

It noted that deceleration of growth, as measured by gross domestic product (GDP), to 6.6 percent in the first quarter of this year showed that boost from post-pandemic recovery is fading.

It, however, noted that “ongoing reforms to the business environment and investment regulations create upside potential for growth.”

Relatively, the credit rater projects government’s budget gap to decline to 2.8 percent of GDP for this and next year from an estimated 3.3 percent of GDP in 2022 and 4.6 percent of domestic output in 2021.

“This is consistent with a narrowing of the budgetary central government deficit

ASIA WORLD PAWNSHOP

Main: Osmeña-Cogon Market, Cagayan de Oro

Branch: Ipil St.,Carmen , Cagayan de Oro

NOTICE OF AUCTION SALE

Starting June 2-3, 2023 at 10:00 A.M. to 12 noon, this establishment will set an Auction Sale on all pledges since January 2023 at Osmeña-Cogon Market and Ipil St., Carmen, Cagayan de Oro City. Patrons are enjoined to verify their receipts.

MANAGEMENT PAHIBALO

Sa Hunyo 2-3, 2023 sa may 10:00 sa buntag paingon da alas 12 sa udto, ang Tanan nga penirenda nga wala malukat sa bulan sa Enero 2023 maapil sa subasta sa Osmeña-Cogon Market ug Ipil St., Carmen, Cagayan de Oro City. Giawhag ang tanan suki sa pagsusi sa ilang resibo.

to 5.7 percent of GDP by 2024, from 7.3 percent of GDP in 2022 and 8.6 percent of GDP in 2021,” it said, citing that “the gradual pace of consolidation reflects the authorities’ focus on fostering economic growth and development.”

Based on the data released after the meeting of the inter-agency Development Budget and Coordination Committee (DBCC) last April 24, budget deficit for this year would account for 6.1 percent of domestic output at around P1.499 billion.

Revenue program for

AYALA-led Bank of the Philippine Islands (BPI) has revised upward its growth projection for the Philippine economy this year to 6.3 percent from 5 to 6 percent previously, after noting the higherthan-expected expansion in the first quarter. The gross domestic product (GDP) rose by 6.4 percent yearon-year in the first quarter this year, higher than the 6.2 percent average projection, with risks coming from the impact of elevated inflation rate and higher interest rates, among others. In a report released on Thursday, BPI said the lower growth print in the first quarter of this year from 7.1 percent

in the last quarter of 2022 and 8 percent last year, is expected because of base effects. “Now that the GDP is above the prepandemic level, growth should revert to its potential level of around 6 percent,” it said. “We have adjusted our full year GDP forecast to 6.3 percent given the latest print and also the improving outlook for inflation,” it added. The rate of price increases decelerated for the third month in a row last April to 6.6 percent after hitting a 14-year high of 8.7 percent last January. The average inflation as of last April stood at 7.9 percent, higher than the government’s 2 to 4 percent

target band. The report said that despite the high inflation rate, consumer spending remains robust, with a growth of 6.3 percent in the first three months this year, higher than the 6.1 percent pre-pandemic average growth.

“This could mean that revenge spending is still present in the economy, possibly offsetting the impact of inflation,” it said. The BPI said “weaker pressure on the margins of businesses may give them the opportunity to focus more on capital spending.” “Consumers may be able to spend more on discretionary items,” it added. (PNA)

Economist sees modest growth of dollar inflows from OFWs

AN economist forecasts continuation of modest growth for overseas Filipino workers’ (OFWs) remittances, citing that beneficiaries need to cope up with the higher spending caused by elevated inflation.

On Monday, the Bangko

NOTICE TO THE PUBLIC

Sentral ng Pilipinas (BSP) reported the 3 percent yearon-year rise of remittances to $2.67 billion in March 2023, slower than the 3.2 percent growth during the same month last year.

In a report, Rizal Commercial Banking

Corporation (RCBC) chief economist Michael Ricafort partly attributed the slower remittance growth to the impact of possible recession in the United States that weighs on employment of some workers, the higher

Publication Notice Republic of the Philippines Province of Misamis Oriental Municipality of Initao -oOoNOTICE TO THE PUBLIC May 22, 2023

Petition No. CCE – 0020 – 2023

In Compliance with the publication requirement and pursuant to OCRG Memorandum Circular No. 2013-1 Guidelines in the Implementation of the Administrative Order No. 1 Series of 2012 (IRR on R.A. 10172), Notice is hereby served to the public that EVELYN BURAY LEDESMA has filed with this Office, a petition for change of first name from “LEONARDA” to “EVELYN” and correction of entry in sex from “ ” to “ ” or correction of entry in the date of birth from “ ” to “ ” in the certificate of live birth of LEONARDA BURAY BACARISAN at Initao, Misamis Oriental and whose parents are JOVITA PACLAR BURAY and BENJAMIN DE LA PEÑA BACARISAN. Any person adversely affected by said petition may file his written opposition with this Office not later than June 5, 2023.

(SGD)ISAIAS A. JARALES Municipal Civil Registrar

This is to inform the public that MS. JOY C. ERENO, whose picture appears above, is NO LONGER CONNECTED with Ecossential Foods Corporation as of November 11, 2022.

Any transaction made and offered by Ms. Ereno on behalf of the company after the above-mentioned date will no longer be honored or authorized by the company.

Please report any unauthorized activity to Ecossential Foods Corporation:

BWM: May 24 & 31, 2023

and JOCELYN SEGOVIA HECERA. (name of father) (name of mother) Any person adversely affected by said petition may file his written opposition with this Office not later than 15 days.

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Contributing

Editors

ATTY. ANTONIO S. SORIANO 2f, ICS Building Tel.No.: 881-0176 Tiano cor. Montalvan sts. Legal Counsel

ATTY. MARIO T. JUNI

Cell No: 09352379999

Juni Law Office Cruz Taal St., CDO

Legal Counsel

No Rule of Law on Environment

Any law student who wishes to pass the bar must put in the inner recesses of his thoughts that in this country, no one is above the law and that all must bow to its majesty. This is so because ours is “a government of laws and not of men.”

In fact, all political law books are unequivocal in their declaration of the supremacy of the rule of law and that “a republican government is a responsible government whose officials hold and discharge their positions as a public trust and shall at all times be accountable to the people they are sworn to serve.”

now faces an alarming environmental crisis and unless soon averted, will lead to our accelerating drive towards ecological disasters.

Look at what we have done to our forest ecosystem. Despite all the laws protecting the dipterocarp species and all the biodiversities of flora and fauna which are endemic only in the Philippines, the 17 million hectares of dipterocarp forest is almost gone that saw the massacre with impunity of billions of life forms that once lived in the forest.

watersheds of Cagayan de Oro, Bukidnon and Lake Lanao, flagrantly violating the following laws: 1) the prohibition to cut trees in slopes that are of 50% gradient; (2) prohibition to cut in areas which are 1,000 meters above sea level and (3) prohibition to cut dipterocarp species.

A satellite map of CD0Lanao watershed revealed that today only 2,000 hectares of forest remain from 37,000 three decades ago with loggers carrying recycled or xeroxed permits or without permit at all.

CHRIS PANGANIBAN Regional Editor - Caraga

JOEL ESCOL Feature Editor

Justin Clyde Benedict D. Domingo Layout Artist

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Door 223, Doña Segunda Bldg., CM Recto Ave., Davao City Telephone #: (082) 298-8815

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OSCAR LEDESMA Bureau Chief, Bukidnon Contact No.: 0905-692-5925

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War of the Worlds

Think a minute . . . .In the year 1899, four American newspaper reporters were searching for a story. They each worked for a different newspaper in the city of Denver, Colorado. By chance they ended up together one Saturday evening when all four of them were desperately needing a story to publish the next morning in the Sunday edition. For them, “no news was bad news” when facing a deadline only hours away!

Finally, they decided just to make up a story about something that happened far away in another part of the world, since it would be harder to check for truth and accuracy. Remember, this was over a hundred years ago before television, satellites, and the worldwide web.

After much discussion they came up with the unbelievable story that the Chinese government was tearing down their Great Wall of China to show international goodwill and welcome foreign business trade from other nations.

When these words are verbalized in classrooms of law colleges and courts of law with all eloquence, one cannot help but be awed. Even more awesome are statements, such as, “let justice be done till heavens fall,” as boldly written on the wall behind a judge’s seat in a courtroom or those words portrayed on the wall conspicuously seen as one enters the Integrated Bar of the Philippines’ Building, “No master but law, no guide but honour, and no aim but justice.”

Against the backdrop of the enforcement of environmental laws, all of these legal pronouncements, however eloquent in prose and style, are just empty rhetorical statements, “full of sound and fury, signifying nothing.” For in truth, while our country has the most comprehensive of laws in Asia as far as the environment is concerned, are the most delinquent in their enforcement.

THINK A MINUTE

This is Res Ipsa Loquitor, as the Philippines

From 1971 to 1988 alone, the loggers have harvested some 3.88 million hectares of virgin forests and have not at all complied with the terms and conditions of their contract of reforestation. In fact, the logging industry, despite amassing forty-eight billion dollars from1970 to 1988, had only contributed from 0.5% to 1.3% to the government revenue, based on the report of the Asian Development Bank.

It is a fact that the loggers have raked so much wealth and power to form a strong cabal of vested interest that has allowed them to fragrantly violate forestry laws. One DENR top official once said that “loggers are more powerful than the government.” Please read the book of PCIJ’s distinguished journalist, Ms. Marites Vitug, “Power from the Forest,” to erase any opinion to the contrary.

The shameless loggers continue to mock forestry laws as manifested in their illegal cutting of trees in the

All the on-going massive hydraulic flush and open pit mining operations in the uplands of Cagayan de Oro up to Iligan City are all illegal as these are highly injurious, not only to the critical balance of nature but to human life itself. These illegal activities have not only destroyed 25-million Peso irrigation projects but have tremendously destroyed critical marine life, not to mention the vulnerability of the people of Cagayan de Oro to fatal flush floods as Iponan River is being literally erased. The operation itself is so risky that 30 people have already died, including a former Barangay Captain. Yet, no law enforcement has been done despite the fact that laws are apparently and grossly violated.

Indeed, greed has no limit as far as logging and mining are concerned, even if their continued operations would mean death to many just to continue their massive rakings.

We cannot allow anymore the fragrant mockery of

existing environmental laws that wantonly belie the supremacy of the Law. The rule of law must prevail because the struggle for the environment is first and foremost a struggle to protect the very basic right of the people to a “balanced and healthful ecology, in accord with the rhythm and harmony of nature,” as enshrined in Art. II, Sec. 17 of the Philippine Constitution. It has become imperative to stop these intergenerational crimes that put to jeopardy the right of the future generations for ecological integrity. Let us be reminded of the truism that we have not inherited the earth from our parents but we owe the earth’s resources to our children. But at the rate that we have abused nature and have allowed the violation of these laws, we have robbed our children of their inheritance. Indeed, the environment is only ours to protect for the coming generations. Certainly, we cannot move on to the future if we do not amend with past sins of environment neglect, accept the present reality of environmental crisis and face the challenge of rectifying it. For after-all, ours is a “government of laws and not of men.”

JHAN TIAFAU HURST

The story said that some American engineers were coming to China to bid on the job of helping demolish the Great Wall. Remember, none of this was true! Well, by 11 o’clock Saturday night these four reporters had worked out all the details for this far-out, false story to be published the next morning in each of their four different newspapers. They never expected anybody to believe their obviously phony story that was truly “fake news”. But to the reporters’ shock, people did believe it! When the news reached the Chinese that the Americans were sending engineers to tear

"Would You Believe It!" is a 1929 British silent comedy film directed by Walter Forde and starring Forde, Pauline Johnson and Arthur Stratton. It was made at the Nettlefold Studios in Walton-on-Thames and released as a supporting feature. It was later rereleased with added sound effects and music. A British inventor develops a new high-tech tank and is pursued by foreign agents who wish to capture the design.

In a world as vast as ours, anything that can happen will likely happen. The only thing that can limit these possibilities is your own imagination. Experience the oddest, the fantastic, the downright impossible parts of history that the textbooks left out. Be prepared -- it will expand the limits of your wildest imagination!

It is almost a ridiculous fact that man wants to know certain truths about mundane things. But really he seems least interested in even mundane truths as can be read many times in newspapers for example. There seem to be too many rash judgments, and the readers absorb these and make these their own. A fatal attraction!

This is sometimes referred to as journalistic mentality and social media comments wherein accusations are generously made without proof. Evolution started this trend, when scientists stated for example that man evolved from the apes, without proof. The only proof they had was the missing link, and if I am not mistaken, it's still a missing proof until now.

To look for proofs is

a mental activity, which is no longer a common thing nowadays, because it takes really time, effort and is too serious to think about. Yet, in Christian education, thinking right is very important.That's why Philosophy is important in Christian life. To avoid error in thinking, the rules of right reasoning must be studied and mastered. Is it really totally neglected in today's modern education?

Thinking is actually an enjoyable activity but when one is pressured to get a good job for one's sustenance, then the other more mundane becomes attractive. After all, great thinkers often do not get (good?) jobs... .

Spiritual writers like the British Samuel Taylor Coleridge (1772-1834) noticed that mankind had stopped thinking even

two centuries ago. That was during his age. Man probably stopped thinking even earlier. He has ceased many times to search for the truth. It's easier to listen to gossip and believe in it. What a sign of weak minds!

Too often are we blind to the truth and as a consequence we easily believe in lies we only have to like it. Too bad, if people always like to close their eyes and ears especially while experiencing the delusion of error.

ORLAN R. RAVANERA

MANILA – Merchandise exports can continue to grow this year but at a slower pace compared to the recorded 5.6 percent growth last year, an economist said Sunday. Exports will likely grow by 5 percent this year amid risk of recession in the United States, which is the world’s largest economy, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort told the Philippine News Agency (PNA).

"For the coming months, the recent easing of some global commodity prices amid risk of US economic slowdown would also somewhat be a challenge

for exports," he said. Export earnings grew by 5.6 percent last year to $78.84 billion.

As of March this year, total export sales amounted to $6.53 billion, reflecting a slower decrease at an annual rate of -9.1 percent from the -18.1 percent in the previous month.

Ricafort said that in the coming months, the further reopening of the economy could fundamentally lead to some pick up in both imports and exports.

But this could be offset by slower economic recovery prospects due to the RussiaUkraine conflict and higher global interest rates amid

more aggressive rate hikes that could slow down the global economy and trade, he said.

Ricafort, however, said that some disruptions in the global supply chain for various products, such as electronics and other manufactured products largely brought about by the pandemic since 2020, would still lead to higher demand for Philippine exports.

"Membership of the country into the Regional Comprehensive Economic Partnership (RCEP), which is the world’s biggest free trade agreement and led by China, would help attract more FDIs (foreign direct

investments) to locate in the country as a production or marketing base, as well as an access point to bigger export markets of the other RCEP member countries in the region and in other parts of the world," he added.

The government is set to launch next month the Philippine Export Development Plan (PEDP) 2023-2028 in a bid to increase exports.

The PEDP will focus on addressing constraints to production, developing a robust and innovative export ecosystem, and increasing the Philippines' share in the global market. (PNA)

Sweden supports resumption of EU-PH free trade deal talks

SWEDEN’S Foreign Trade Minister Johan Forssell has underscored the need to resume talks between the Philippines and the European Union (EU) for a bilateral free trade agreement (FTA) to facilitate a freer flow of goods between the two parties.

The Philippines is benefitting from the EU Generalised Scheme of Preferences Plus (GSP+) as more than 6,000 goods were slapped with zero tariff upon entering the

EU market.

“But from our perspective, we have been, for many decades, a very strong supporter of free and open and rules-based trade.

So I believe that when the time is right, we should also restart the FTA negotiations between the Philippines and European Union,” Forssell told reporters during his two-day visit here on May 18 and 19.

Forssell said an EUPhilippines FTA “must be the ultimate goal” of the two parties when it comes

to boosting trade ties.

It has been a decade since the Philippines and the EU launched exploratory talks on bilateral FTA. There were two negotiations held in Brussels in 2016 and in Cebu in 2017, but talks have been on hiatus for six years now. Meanwhile, Forssell said the economic growth, demographics, and the infrastructure program and the transition to clean energy of the Marcos administration make the Philippines an attractive

PH entering 'golden age' of investments: ECCP

THE Philippines is entering the “golden age” of investments from Europe as the country remains an attractive destination for European businesses.

This, as the government implemented policy reforms such as the amendments to the Foreign Investments Act, Public Service Act, and Retail Trade and Liberalization Act, as well as allowing full foreign ownership for renewable energy projects.

Business Dialogue. Humphrey said the European delegation will be composed of 36 entities with 70 people.

"I think that just emphasizes the attraction and the importance of the Philippines to European industry... We need to take the Philippines at the center stage," he said.

destination for Swedish investors.

“The Philippines is really a key market for us, so it was important to come here,” he said. Forssell said he aims to bring a Swedish business delegation to Manila and also to invite Filipino companies to look into investment and trade opportunities in Sweden. He added there are currently 40 Swedish firms operating in the Philippines, including popular brands like H&M and IKEA. (PNA)

Thousands attend PH's largest investment summit in Dubai

Dubai, UAE – The 9th edition of the Philippine Property and Investment Exhibition (PPIE) and the inaugural Philippines Economic & Investment Summit (PEIS) have concluded here on a resounding note with an impressive turnout of thousands of attendees, including high-level delegates from both the Philippines and the United Arab Emirates (UAE).

The event, held at the Radisson Blu Hotel, Deira Creek, Dubai from May 12 to 13 showcased a wide range of properties in the Philippines, including residential, commercial, and industrial options.

Foreign investors were drawn to opportunities in such sectors as infrastructure, renewable energy, IT, logistics, manufacturing, agriculture, stocks, mutual funds, insurance, and real estate investment products (REIP) in the country.

The event’s forums and panel discussions covered various facets of real estate investment, incentive updates, and Philippine economic forecasts.

One of the event’s highlights was the keynote presentation of Interior and Local Government Secretary Benjamin Abalos, which shed light on the

Philippine government’s strong commitment to transparency, good governance, facilitating a business-friendly environment, as well as fostering a well-rounded experience of living, working, and enjoying life in the Philippines.

"We are thrilled about the exceptional economic prospects that lie ahead of us. Our goal is to enhance the ease of doing business, governance, and processes at all levels, from grassroots to industries. This commitment will ensure a seamless and efficient business environment. We would like to express our

deepest gratitude to the people of the UAE for their unwavering belief in our country and for making us immensely proud to be Filipinos," Abalos said.

"The most valuable capital we possess here is our people. With the government providing essential regulatory support, they act as the catalyst for attracting investments.

I extend my heartfelt appreciation to Dr. Karen Remo for her proactive initiative in this regard. This endeavor serves as yet another avenue through which we strengthen and

"The Philippines is really starting to enter this golden age of investments coming from European and from other parts of the world," European Chamber of Commerce of the Philippines (ECCP) executive director Florian Gottein said in a press conference in Makati City Monday.

Gottein said the ECCP has been a staunch advocate of the policy measures that will help the Philippines attract more foreign direct investments.

Showing the growing interest of European firms in the Philippines, EU-ASEAN Business Council (EUABC) executive director Chris Humphrey said one of the biggest European business delegations will be arriving here this week to participate in the 2023 European-Philippines

Republic of the Philippines

Department of Transportation LAND TRANSPORTATION FRANCHISING & REGULATORY BOARD Regional Office No.10, Apovel, Bulua, Cagayan de Oro City

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NOTICE OF HEARING

APPLICANT requests for the Issuance of New Certificate of Public Convenience to operate TRUCK FOR HIRE (TH) SERVICE on the route: CAGAYAN

Humphrey cited the country's strong economic growth, which is one of the fastest in Asia despite its slowdown, its large and young population, and the stability it offers make the Philippines a strategic destination for European businesses.

"The reality on the ground here is much more positive than elsewhere in the region. So if you look somewhere like Indonesia, they're going to have election next year that will cause some instability. Malaysia had big political problems. It's unclear whether the government will survive this full term as well... You go somewhere like Thailand where we just had an election. The future is looking a bit uncertain at the moment. They've also got a very older population," he added.

Vietnam, on the other hand, is showing signs of

of hearing once in a newspaper of general/ local circulation.

Party(ies) opposed to the approval/ granting of the application must file his/her/its written opposition with supporting documents, unless this Board deems it necessary to require additional documentary evidence and/or his/ her/its oral testimony(s).

WITNESS, AMINODEN D. GURO, Regional Director, LTFRB-Region X, this 22nd day of May 2023 at Cagayan de Oro City, Philippines.

ATTY. MOHAMAD FAHDEL S. PIMPING

BusinessWeek MINDANAO

Editor: GILBERT Y. CHAO

Surrendered MisOcc rebel receives 500K cash aid from Governor Oaminal

P500,000 in cash assistance was granted by the Misamis Occidental Provincial Government to the latest rebel returnee in Misamis Occidental on Saturday.

Governor Henry S. Oaminal led the handover of the amount to the former rebel aliased ‘Cesar,’ joined by Philippine Army officials MGen. Antonio Nafarrete, 10th Infantry Battalion Commanding Officer Jose Andre Monje, 102nd Infantry Brigade Commander Col. Elmer Scuderio.

“Cesar’s courageous return to our community is another win for Misamis Occidental’s peace and order initiatives, in line with the provincial thrust of our 5Ms.” said Gov. Oaminal.

The ‘5Ms’ or ‘Misamisnon

Magpuyong Malinawon, Malambuon ug Malipayon’ (Misamisnon Live Peaceful, Prosperous and Happy) is one of Gov. Oaminal’s flagship initiatives for the province. One of the key priorities of this platform, according to Gov. Oaminal, “is to find an end to the insurgency and conflict in Misamis Occidental.”

“In granting him our assistance, we aim to send a message to other rebels that they, too, can return to the fold of the law anytime, and live in harmony with our countrymen,” Gov. Oaminal added.

Application of Internet of Things to Hydroponics

By Nathalie Joy G. Casildo "IT Faculty, College of Information Sciences and Computing Central Mindanao University"

AGRICULTURE has the significant impact on the economy of the country. With the practice of modern farming techniques where plants can be grown without the need of soil by means of nutrient solution, Hydroponics and Aeroponics are in the rise. Now towards controlling the hydroponic plant growth, some amount of research has been done in applying machine learning algorithms like Neural Networks and Bayesian network.

Internet of Things allows for Machine to Machine interaction and controlling the hydroponic system autonomously and

intelligently. This work proposes to develop an intelligent IoT based hydroponic system by employing Deep Neural Networks which is first of its kind. The system so developed is intelligent enough in providing the appropriate control action for the hydroponic environment based on the multiple input parameters gathered. A prototype for Tomato plant growth as a case study was developed using Arduino, Raspberry Pi3 and Tensor Flow.

Because of the increase in food demand, labor cost, unpleasant environmental conditions and less area

for agriculture, there is an increase in motivation for indoor farming such as hydroponics and Aeroponics.

So, based on the traditional method of growing plants, there is no mention about soil. That means as long as these requirements are fulfilled, plants can grow. This brings the idea of hydroponics farming. This technique uses mineral nutrient solution in a water solvent which allows plant intake of nutrients in a more efficient way than soil. Native plants can be grown with their roots exposed to the nutrient solution.

NGCP...

from page 1

transmission firm indicated that the priority target is to complete several projects that will free up stranded capacities due to years of congestion in some parts of the power system.

The critical projects that the firm has been advancing to urgent commercial operations include the Hermosa-San Jose 500kV (kilovolt) transmission line project, Cebu-NegrosPanay stage 3 backbone project, Nabas-CaticlanBoracay transmission line project, and the Cebu-Bohol interconnection project.

A landmark project due for completion is the P52 billion Mindanao-Visayas Interconnection Project (MVIP). Once it reaches commercial operation in August this year, MVIP will concretize the country’s vision of having a nationallyconnected power grid.

In addition, the transmission link up will enable the export of surplus power supply from Mindanao to the Visayas and to the energy-starved Luzon grid.

Following that, the transmission company specified that it will already “commence new projects approved by the Energy Regulatory Commission (ERC) such as the Batangas-Mindoro interconnection.”

These forward projects are fleshed out in the Transmission Development Plan (TDP) that had been submitted to the Department of Energy (DOE) for integration into the Philippine Energy Plan (PEP).

The transmission firm noted that these projects had been cast to “improve transmission backbones and alternative transmission corridors, and to develop resiliency policies for power transmission facilities.”

One of the biggest challenges that will confront the system operator in the years ahead will be the massive integration of variable renewable energy (VRE) capacities – and how their connection into the system could be balanced prudently to avoid grid collapse.

Power investors have repeatedly sounded off that they are agonizing over stretched timeframes of securing system impact study (SIS) for the grid connection of their projects – and this is a sphere where they would want united and immediate action to be pursued; because this will gauge the seriousness as to how the governmentdesigned ‘energy transition pathway’ will be enforced.

“We continue to be hopeful that improvements in all 3 sectors of the power delivery system are in sync with each other, so that one sector is not made to be the sole or principal solution to challenges in the other sectors,” NGCP asserted.

Toward the overall operation of the power system, it was stated that “to make it robust, resilient and responsive to the needs of a fast growing economy, the direction and coordination must be clear, equally implemented, and objectively pursued.”

And on the recent controversies plaguing NGCP, the holding company of its major Filipino shareholders Synergy Grid & Development Phils Inc. relayed to the Philippine Stock Exchange (PSE) that the transmission

firm “relies on its over-all good performance and service track record to defend against allegations of violations.”

It cited that “based on the ERC’s findings on performance metrics, transmission services have significantly improved,” adding that “NGCP has doubled substation capacity and constructed substantial transmission lines all over the country including inter-island connection projects.”

Lanao...

from page 1

production of healthy food to attain food security as a key to world peace.

Arnado said over 2,000 participants, including 251 foreign delegates from 35 countries, will attend the event.

He said Interior and Local Government Secretary Benjamin Abalos Jr., had instructed all local chief executives to participate in the convention to promote organic agriculture in their respective communities.

He said only 200 local government units, including Kauswagan, are currently adopting organic agriculture.

Kauswagan’s From Arms to Farm Programme won the first United Cities Local Government Bogota Peace Prize on October 16, 2016 in Bogota, Colombia.

Arnado said the Philippines lags behind in terms of organic farming, which is supposed to be done by the government.

“Kauswagan did not bid to host the event but was chosen by IFOAM Organics Asia and accepted the challenge and opportunity,” he said.

On August 18, 2022, IFOAM Organics Asia President Mathew Jhon represented by First Vice President Edgardo Uychat and Arnado signed the memorandum of understanding for the coherent, effective and transparent implementation of activities with Department of Agriculture officials.

On June 5, Arnado as the new President of Asian Local Governments for Organic Agriculture will receive the ALGOA flag during the handover ceremony from outgoing ALGOA President Song In-heon, Mayor of Goesan County, South Korea, Vic Anthony Joseph Tagupa, Operations Officer IFOAM Asia said.

The Kauswagan International Organic Convention Center has accommodation facilities, a kitchen and a cafeteria, two landing zones for helicopters intended for health emergencies, and a media center with internet connection.

Arnado said they have held coordination meetings with various government agencies as well as with the Mindanao State University-Iligan Institute of Technology.

“The efforts towards the last week of May will focus on simulation activities such as testing of venue facilities and equipment, power energy source, potable water system, organic food tasting, mobility and traffic management, and tour guide simulation,” he said.

Colonel Sandy Vales, Police Director of Lanao del Norte said security arrangements, including an incident command center, are being worked out with the military, Office of Civil Defense and other agencies.

Income...

from page 1

markets in Mindanao,” adding that their 210 megawatt (MW) Sarangani Energy Corporation (SEC) coal-fired facility and the 100 MW Western Mindanao Power Corporation (WMPC) diesel plant in Zamboanga City had been held as the incomedrivers within the covered financial review period.

The Mindanao power grid is a core market for the Alcantara group; and its Sarangani plant has been catering to the electricity service needs of customers in Sarangani Province, General Santos, Cagayan de Oro, Iligan, Dipolog, Dapitan, Pagadian, Samal, Tagum, Kidapawan, and Butuan.

For WMPC diesel facility, the main area it is servicing is Zamboanga Peninsula –primarily the customers of Zamboanga City; while also supplying critical ancillary services needs of system operator National Grid Corporation of the Philippines “to help stabilize the power grid in the Western Mindanao Region.”

With the dependable income it has already been raising from its thermal assets, Alsons reiterated that its onward investment trajectory will be on renewable energy (RE) installations, with initial sharp focus on its line-up of eight run-of-river hydroelectric power facilities already being advanced to implementation phases.

The first one to come-on line will be its 14.5-megawatt Siguil hydropower facility, which is sited in Sarangani province and has already been inching close to construction completion. The targeted kick off of its commercial operations will be by the end of this year.

“The next two renewable energy facilities slated for development are a hydro and solar power project in Zamboanga del Norte with a potential combined capacity of up to 37.8 MW, and a hydro power project in the Bago River in Negros Occidental with a planned capacity of up to 42 MW,” the company stressed.

To date, the power generation portfolio of the Alcantara group stands at 468MW and these were mainly on thermal generation; while greenfield projects moving forward will be RE facilities.

South...

from page 1

per kilowatt hour (kWh) the present P16 per kWh charged by the electric cooperative to consumers.

He said that if the system loss “can be corrected,” the cooperative, if supervision will be under the provincial government, can earn an “income of between P40 to 60 million a month.

The system loss charge was pegged at 1.4069 in March for residential consumers.

Tamayo also criticized the management of Socoteco – I, which is headed by general manager Raffee Edsel Epistola, for the intermittent brownouts suffered by the electric consumers in the past several months.

Epistola could not be contacted for comments.

The governor noted that

the high cost of electricity is hampering the entry of investors in the second district of South Cotabato, which forms the bulk of the cooperative’s service area.

South Cotabato’s second district comprises this city and the towns of Tantangan, Banga, Norala, Surallah, Sto. Nino, Lake Sebu and T’boli.

In the past few months, Tamayo said investors from China, Malaysia, South Korea and Japan have expressed their interest to put up factories in the second district, but were allegedly dismayed by the high cost of electricity.

He dangled a publicprivate partnership with Socoteco-I, with the provincial government taking control of the operations of the electric cooperative.

If the provincial government will be on top of the operations of Socoteco-I, Tamayo said the current management team of the cooperative could still be retained to run the affairs of the non-stock, non-profit cooperative.

Socoteco-I was registered on August 31, 1971 under the provisions of Republic Act 6038 or the National Electrification Administration (NEA) Act. It became the 12th electric cooperative to be registered by NEA.

On September 5, 1979, a 50-year franchise was granted to Socoteco-I, or until September 5, 2029.

OFW...

as in recent years. However, spending will also likely exceed budgeted amounts. Overall budget balance outturns have tended to be close to targets in recent history,” Fitch Ratings said.

It also forecasts the share of government debt to GDP to go down to about 52 percent of domestic output next year “on strong nominal GDP growth and narrowing fiscal deficits.”

“This is broadly in line with our projections for the ‘BBB’ median, although the Philippines used to be stronger than the median,” it said. Relatively, Fitch projects inflation to average at 4 percent by 2024, the upper end of the government’s 2-4 percent target band.

As of end-April this year, rate of price increases averaged at 7.9 percent, with the April level slowing to 6.6 percent after hitting a 14-year high of 8.7 percent last January.

“We continue to view the central bank's inflationtargeting framework and flexible exchange rate regime as credible,” it said, citing that the Bangko Sentral ng Pilipinas’ (BSP) interventions to address the volatility of the local currency “have been reversed.”

The Philippine peso is currently trading at the 55-level against the US dollar, an improvement compared to its level in September to October 2022 when it hit record-low of 59.00 to a greenback.

just need to make sure you're leveraging on the advances you have now whilst the rest of the region is facing some difficulties," Humphrey said.

ECPP president Lars Wittig said one of the areas that the Philippines needs to further improve is the ease of doing business to get a bigger share of European investments in the region.

"Europe is the largest single investor (in ASEAN), accumulated $350 billion. Unfortunately, historically, only 4.7 percent of that has been invested directly into the Philippines," Wittig said. Meanwhile, the ECCP and the EU-ABC will be holding the 10th European-Philippine Business Dialogue on May 25 at Dusit Thani Manila, also in Makati.

Aside from featuring a series of high-level discussions, ECCP's 11 advocacy papers will be launched during the program and will be handed over to the administration. (PNA)

Dubai...

from page 5

promote our bilateral relations,” said Philippine Ambassador to the UAE Alfonso Ferdinand Ver.

inflation rate even in countries were the OFWs are based, and the weaker Philippine peso.

Ricafort said the depreciation of the local currency against the US dollar “partly reduced the need to send more OFW remittances due to higher conversion rate for the US dollar vs. the Philippine peso.”

However, he said the need to send funds to the remittance beneficiaries will continue to drive its expansion not only because of higher cost of living because of inflation, but also due to the normalization of spending after the economy has been reopened.

Ricafort said while the school year has been adjusted, with the opening in most schools moved from June to August, OFWs will still continue to send funds for education-related expenses, thus this will remain among the drivers of remittance inflows. (PNA)

from page 3 Fitch...

from page 3

this year is P3.729 trillion, or about 15.2 percent of GDP, while disbursement is targeted to about P5.228 trillion, 21.3 perfcent of GDP.

For 2024, revenues are programmed to reach P4.184 trillion while disbursements would be at P5.547 trillion, which will result to a deficit of P1.362 billion, 5.1 percent of GDP.

GDP assumption for this year has been set to between 6-7 percent while it is 6.5-8 percent for 2024-28.

“We consider the fiscal revenue targets unambitious and expect them to be exceeded,

“Monetary financing to the government during the pandemic was more limited and was reversed more quickly than in some peers. The government's response to the commodity price shock has been measured, for example in resisting calls to introduce fuel subsidies,” the commentary added. (PNA)

War...

from page 4

Chinese national monument, naturally they were extremely offended and angry! One group of Chinese patriots even rioted and attacked embassies, killing hundreds of foreigners. In fact, this imaginary story and hoax, made up by four news reporters, contributed to the international conflict and bloodshed in China known as the Boxer Rebellion.

The power of our words can be used for great good or great evil. Even what we think are just small jokes, gossip, or white lies can deeply wound, even destroy, people. Won’t you ask Jesus to forgive you, and to help you control what you say—before you start a war of words that hurts your family, friends, or others? Just think a minute . . .

ECCP...

from page 5

economic slowdown with its gross domestic product growth easing to 3.2 percent in the first quarter of 2023 from 5.05 percent expansion in the first quarter 2022.

"You've got an administration with another five years to go. It's very stable and very progressive. And you've got a great, young, highly intelligent, well-skilled workforce. You have the language skill as well. You

"Thanks to your unwavering support, the event has now reached its 9th edition. This year, we proudly introduced the Philippine Economic & Investment Summit, expanding the array of investment options and tools available for both institutional and retail investors. And by doing so, NPM (New Perspective Media) Group can further reinforce and strengthen the economic and social ties between the Philippines and the Middle East by providing a platform that can bring forth better and wealthier future, for everyone,” said Remo, CEO and founder of NPM Group and chair of PPIE and PEIS.

As part of its Corporate Social Responsibility initiatives, NPM Group has been actively promoting financial literacy among Filipinos through PPIE.

The remarkable turnout of attendees in this year’s edition further cements the event’s reputation as the largest and most trusted international expo and conference dedicated to Filipino investment, spanning nearly a decade.

The two-day event also aimed to enhance the financial literacy of overseas Filipino workers and promote Philippine investments to foreign investors through panel discussions and activities catered to the specific needs and interests of the attendees. (PR)

from page 8

2023 data, Globe dominated the industry anew after obtaining the highest All Technology Consistency Score of 83.39 percent in the first quarter of 2023, an improvement from 83.13 percent in the fourth quarter of last year.

It also topped All Technology Availability with a higher score of 93.18 percent in the first quarter from 92.38 percent in the previous quarter.

To learn more about Globe, visit https://www.globe.com. ph/.

BusinessWeek

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Cagayan de Oro’s Sia tops civil engineering board exam

CAGAYAN DE ORO CITY – Good news to the City of Cagayan de Oro, as this year’s top placer in the recently concluded civil engineering board examination hails from this city.

His name is Garret Wilkenson Ching Sia, whose family and roots live here for many decades and their family has been known in the city as a family of businessmen, professionals and politicians.

Garret Wilkenson Ching Sia, the exam’s first placer, studied civil engineering at De Lasalle University in Metro Manila.

Sia garnered a 92.10 percent exam rating based on the exam results reported by the Philippine Regulation Commission (PRC).

There were actually two

board passers who snatched the first place. One of those aside from Sia, was a graduate from Mariano Marcos State UniversityBatac campus. He was Alexis Castillo Alegado.

There were also top 10 placers from Mindanao and they were identified as Kyle Adrian Olivia, 5th placer from Mindanao State University; Jester Javier Silapan, 9th placer, from the University of Southern Mindanao – Kabacan campus; and Mohaimen

Hadji Omar Pasawilan, 10th placer, from the University

of Mindanao – Kabacan campus.

They were followed by Reden Christian Tandoc Mercado from Saint Louis University and Casmer Blah Dilangalen from University of the Philippines-Diliman who both got 90.45 percent.

Based on the PRC records, there were 5,887 out of 16,936 who passed the licensure examination, or 34.76 percent.

The exams, PRC said, were administered in National Capital Region, Baguio, Butuan, Cagayan de Oro, Cebu, Davao, Iloilo, Koronadal, Legazpi, Lucena, Pagadian, Palawan, Pampanga, Tacloban, Tuguegarao and Zamboanga on April 23-24.

Globe dominates 5G speeds in one of PH's key business hubs

Leading digital solutions platform Globe emerged as the fastest 5G mobile network for the first quarter of 2023 in Makati City, a key business hub in the Philippines.

Based on Ookla® Speedtest Intelligence® Q1 2023 data, Globe edged out its closest competitor with a median download speed of 171.814 Mbps from January to March this year.

Makati City is an important financial center in the Philippines, hosting the headquarters of majority of the Philippines' top 1,000 companies as well as multinational corporations operating locally.

5G's faster speeds, higher bandwidth, and more stable internet connection offer big corporations numerous benefits, including enhanced mobility, new business opportunities, and improved customer experience. These can give enterprises a competitive edge and help them stay ahead of the curve in today's fast-paced market.

As of the first quarter of 2023, Globe deployed 66 new 5G sites in 74 cities and towns across the Philippines. This expanded its 5G outdoor coverage to 97.21% of the National

Capital Region and 90.28% of key cities in Visayas and Mindanao. Globe also logged 4.3 million devices in its 5G network as of March 2023.

“With 5G, we are opening doors to endless possibilities and opportunities for innovation, collaboration, and development. We believe that everyone deserves to experience the benefits of 5G, and we are committed to making this a reality for all our customers,” said Globe Chief Transformation and Customer Experience Officer Rebecca Eclipse.

As a leading provider

of 5G connectivity, Globe has always been committed to providing a #1stWorldNetwork to Filipinos, in line with its commitment to economic growth and development under the United Nations Sustainable Development Goals.

Its efforts were rewarded with the Ookla® recognition as the Most Reliable Mobile Network for four straight quarters – from the second quarter of 2022 to the first quarter of 2023.

Based on Ookla® Speedtest Intelligence® Q1