BusinessMirror April 18-21, 2019 by BusinessMirror

DEPT. OF SCIENCE AND TECHNOLOGY

PHILIPPINE STATISTICS AUTHORITY

2018 BANTOG DATA MEDIA AWARDS CHAMPION

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A broader look at today’s business

Thursday-Sunday, April 18-21, 2019 Vol. 14 No. 190-193

PHL posts $3.8-B BOP surplus in first quarter $627M T By Bianca Cuaresma

@BcuaresmaBM

HE Philippine economy posted significant developments in its external position in the first quarter of the year, after climbing back from a dollar deficit by the end of March 2019.

The Bangko Sentral ng Pilipinas (BSP) on Wednesday reported the country’s balance of payments (BOP) position hit $3.8 billion in surplus in the first three months of the year. The BOP is the summary of the country’s dollar transactions

with the rest of the world. A surplus in an economy’s BOP means that the country has earned more dollars than what it spent during the period. The BOP is usually an indicator of an economy’s external health position. The surplus for the first quarter

is a significant development from what was seen in 2018, when the Philippine economy profusely bled dollars throughout the entire year. Comparing its level to the same months in 2018, the $3.8 billion more than reverses the $1.2-billion deficit seen in the same three-

The country’s surplus for March 2019 alone, up from the previous month’s $467-million surplus and a reversal of the deficit of $266 million seen a year ago

month period last year. The multibillion-dollar surplus came as the country was able to consistently post monthly dollar earnings in the first quarter. In March alone, in particular, the country’s surplus hit $627 million, up from the previous month’s $467-million surplus and a reversal See “BOP,” A2

@caiordinario

SI A-PACIFIC countries, including the Philippines, only need to invest less than $1 per day per person to meet the Sustainable Development Goals (SDGs) by 2030, according to the United Nations Economic and Social Commission for Asia and the Pacific (Unescap). In a Unescap report cited in its blog, the UN agency said this is equivalent to only 5 percent of 2018 GDP annually up to 2030, or an additional of $1.5 trillion every year until 2030. In 2018, the Philippines GDP was estimated at P9.21 trillion at constant prices, or P17.43 trillion in current prices. Given a population of around 107.58 million, according to the population clock of the Commission on Population and Development, the BusinessMirror estimates this would translate to about P11.72 per day per Filipino using constant prices, or P22.19 per day at current prices. “Less than a dollar per person per day. That is all it will cost developing countries in Asia and the Pacific to realize their ambitions for an inclusive and sustainable future,” Unescap said.

‘GALUNGGONG’ IMPORTS HALT EYED ON BIG SUPPLY By Jasper Emmanuel Y. Arcalas @jearcalas

HE Department of Agriculture (DA) said it may now suspend the importation of galunggong (round scad) as it has noted increased supply in the domestic market. “We’re intending to suspend the importation already because there are a lot of fish now in the market,” Agriculture Secretary Emmanuel F. Piñol said in a recent interview with reporters. The DA allowed the importation and sale of round scad in wet markets last year after the inflation rate in August 2018 surged to a nine-year high of 6.4 percent. Initially, the DA allowed the importation of 17,000 metric tons (MT) of galunggong or round scad to arrest the rising prices of fisheries products in the market. “In order to ensure national

Continued on A2

PESO EXCHANGE RATES n US 51.7240

food security taking into consideration public welfare and safety and in accordance with Section 61 of Republic Act 8850, or the Philippine Fisheries Code, as amended by RA 10654, and Fisheries Administrative Order 195, Series of 1999, the importation of round scad [Decapterus spp.] up to a maximum volume of 17,000 MT is hereby certified as necessary to be imported by accredited fish importers,” Piñol said in his order in August 2018. Piñol also said earlier that the government may allow the importation of galunggong during the closed fishing season to ensure a stable supply of the fish in domestic markets. The Bureau of Fisheries and Aquatic Resources told the BusinessMirror that the total volume of round scad that entered the country as of March 29 has reached 15,227 MT, out of the 17,000 MT authorized Continued on A16

Electric co-ops see sales rise 7% in 2018

The price of the ticket for the journey toward the SDGs is affordable for all if we work together and change our mindset toward putting people and the planet first.” —Unescap

“The price of the ticket for the journey toward the SDGs is affordable for all if we work together and change our mindset toward putting people and the planet first,” it added. Unescap estimated that investing 92 cents per person per day will help Asia-Pacific countries end extreme poverty and malnutrition, provide basic health care, a quality basic education, clean energy and an enabling infrastructure for all while strengthening resilience to climate risks and protecting nature. This includes an investment of 43 cents per person per day for targeted income transfers, social protection, nutritional interventions,

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$1 a day is all it takes to meet SDG in Aspac countries, including PHL By Cai U. Ordinario

2017 EJAP JOURNALISM AWARDS

I H.E. Koji Haneda, Ambassador of Japan to the Philippines, receives the Embassy Award for Infrastructure Support from Public Works Secretary Mark A. Villar at the recent culminating rites of Mission:PHL, the BusinessMirror Envoys&Expats Awards. ROY DOMINGO

DPWH cites Japan Embassy for infra support

HE Japanese Embassy in the Philippines was cited for its government’s significant contributions in bolstering development in the Philippines through noteworthy infrastructure projects that support economic growth goals and uplift people’s lives. H.E. Koji Haneda, Ambassador of Japan to the Philippines, received the Embassy Award for Infrastructure Support from Public Works Secretary Mark A. Villar

at the recent culminating rites of Mission:PHL, the BusinessMirror Envoys&Expats Awards held at SM Aura in Taguig City. The DPWH was one of 10 government agencies which signed memoranda of agreement with the BusinessMirror to help vet the notable projects highlighting the best of the Philippines’s experience in development cooperation. Watch for the next round of Mission:PHL, the BusinessMirror

Envoys&Expats Awards in 2021. Mission:PHL is the first, and only recognition awards for the Philippines’s best partners in development cooperation. It gives due recognition to the development efforts of countries as represented by their embassies, as well as bilateral and multilateral development aid partners. Read updates on Mission:PHL i n t h e B u s i n e s s M i r r o r’s Envoys&Expats Section.

NCREASING demand for power led to a 7-percent jump in electricity sales of electric cooperatives (ECs) in 2018. The National Electrification Administration (NEA) reported that electricity sales of the ECs reached 21,421,471 megawatt hours last year, compared with 19,950,097 MWh in 2017. According to the NEA Information Technology and Communication Services Department (ITCSD), this was due to an 8-percent increase in consumption in Luzon and the Visayas, and 6 percent in Mindanao. ITCSD manager Roderick Padua said the Visayas registered an average increase of 22 percent in revenues, followed by Luzon and Mindanao at 17 percent. Consequently, the EC’s operating revenues increased by P32.518 billion, or 18 percent to P211.404 billion from the previous year’s P178.886 billion. The top 5 ECs with the highest operating revenues were the Central Negros Electric Cooperative Inc. (Ceneco), South Cotabato II Electric Cooperative Inc. (Socoteco See “Electric co-ops,” A16

n JAPAN 0.4618 n UK 67.4998 n HK 6.5953 n CHINA 7.7053 n SINGAPORE 38.1952 n AUSTRALIA 37.1120 n EU 58.3550 n SAUDI ARABIA 13.7923

Source: BSP (17 April 2019 )

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A2 Thursday-Sunday, April 18-21, 2019

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PHL, SoKor agree to forge bilateral FTA

By Elijah Felice E. Rosales

@alyasjah

HE Philippines and South Korea on Wednesday agreed to pursue a bilateral free trade agreement (FTA), a move that could expand Filipino farmers’ access to the market of the East Asian country. In a joint statement, Trade Secretary Ramon M. Lopez and South Korean Trade Minister Myung-hee Yoo said they agreed to negotiate a bilateral FTA to en-

hance economic ties, and expand trade and investments between the Philippines and South Korea. Upon the completion of respective domestic procedures, the

two parties will begin official FTA talks. Both parties said they agreed to “put their best effort” to conclude negotiations in time for the commemorative summit between the Association of Southeast Asian Nations (Asean) and South Korea in November. “Once concluded, the bilateral FTA will pave the way for an enhanced market access for products of interest of the two countries. It is also viewed that the agreement will provide a more stable and predictable economic environment necessary to generate more trade and investments,” the joint statement read. Last year merchandise trade

DOJ indicts ex-PDEA deputy, 7 others for shabu smuggling By Joel R. San Juan

@jrsanjuan1573

HE Department of Justice (DOJ) has recommended the prosecution of former Philippine Drug Enforcement Agency (PDEA) Deputy Director for Administration Ismael Fajardo and seven other individuals for importation of illegal drugs in connection with the smuggling of more than 300 kilos of shabu which were kept inside magnetic lifters last year. In a 45-page resolution issued on April 8, 2019, by a fourman DOJ panel of prosecutors led by Mary Jane Sytat, the justice department found probable cause to indict Fajardo, Customs Intelligence Officer Jimmy S. Guban and dismissed Senior Supt. Eduardo P. Acierto. They were believed to be “core conspirators” in violating Section 4 (importation of illegal drugs) in relation to Section 26 of Republic Act 9165, or the Comprehensive Dangerous Drugs Act of 2002. Acierto earlier linked President Duterte’s former adviser Michael Yang to the country’s illegal drug trade, which the Palace has denied. Also facing the same charges are private individuals Chan Yee Wah, Zhou Quan/Zhang Quan, consignees Vedasto Cabral Baraquel Jr. and his wife Maria Lagrimas Catipan of Vecaba Trading and Emily Luquingan, the ex-wife of Hsu Chun Chung.

Hsu, a Hong Kong national, was the reported liaison behind the 500-kilo shabu shipment that authorities found in the Manila International Container Port in August, hidden in two magnetic lifters. The shipment was valued at P4.3 billion. The NBI earlier named more than 40 individuals, including incumbent and former antidrug operatives and police officers, as well as customs personnel to be charged with importation of illegal drugs. However, the DOJ said it found probable cause to indict only eight of these more than 40 individuals. “The basic rule is that allegation is not evidence ad is not equivalent to proof. Charges based on mere suspicion and speculation, likewise, cannot be given credence. When the complainant relies on mere conjectures and suppositions, and fails to substantiate his allegations, the complaint must be dismissed for lack of merit,” the resolution read. On the other hand, the panel endorsed to the Office of the Ombudsman for preliminary investigation the complaint for violation of Section 3 (e) of RA 3019 (dereliction of duty and grave misconduct) against former Bureau of Customs (BOC) Commissioner and now Technical Education and Skills Development Authority (Tesda) Director General Isidro Lapena, Fajardo, Acierto, Customs Intel ligence Officer Jimmy

Guban, dismissed Port of Manila District Collector Vener Baquiran, BOC x-ray Inspection Project Head Zsae Carrie de Guzman, Customs Intelligence and Investigation Service (CIIS) Officer Gorgonio Necessario, Customs Operating Office IV Dolores Domingo, BOC shift supervision Benjamin Cajucom, BOC x-ray operator and analyst Manuel Martinez, customs employees Joseph Dimayuga and John Mar Morales. The panel also recommended to the Ombudsman the conduct of a preliminary investigation against Lapena, Baquiran, de Guzman, Morales and Cajucom for violation of Article 208 of the Revised Penal Code for failure to impose sanctions or penalize BOC officers involved in the controversy. The controversy stemmed from the successive discoveries of abandoned magnetic lifters at the Port of Manila in August which contained 355 kilos and at a warehouse in General Mariano Alvarez, Cavite, also believed to have been used to smuggle 1.6 tons of shabu worth billions. This prompted the House and the Senate to conduct a legislative inquiry on the matter and subsequently recommended the filing of charges against those responsible for the entry of the shipments. Lapeña earlier insisted that there were no drugs in the four magnetic lifters found in a warehouse in Cavite, but admitted later that these may have contained illegal drugs.

$13.7B The total merchandise trade between the Philippines and South Korea in 2018

between the Philippines and South Korea improved 7.1 percent to $13.7 billion, from $12.79 billion in 2017, according to data from the Philippine Statistics Authority (PSA). However, the Philippines recorded an exports decline of 41.3 percent to $2.54 billion, from $4.33 billion. In contrast, shipments from South Korea rose by 31.9 percent to

agricultural and rural development, a quality education for every child and youth, and basic health care for all.

37 cents for natural wealth

ANOTHER 37 cents per person per day can help protect natural wealth and secure the planet’s future by making economic growth less resource-intensive and more environment-friendly. This includes an important shift to clean energy for all. An additional investment of 12 cents per person per day will equip the region with key infrastructure needed for human and material well-being—climateresilient roads and railways, fixed and mobile broadband, and water and sanitation services for all. “The SDGs will become affordable for all countries in the region with strong development partnerships and regional cooperation,”

Unescap said. “Besides the usual mix of public and private financing, let us not forget that the private financial sector in the developing AsiaPacific region manages some $51 trillion in assets. There is certainly room for better allocation of capital, so that our investments reflect our priorities as a society, going beyond near-term profit maximization to long-term social returns.” However, Unescap said the costs will not be shared evenly as some countries, especially those whose development challenges are greater. Unescap said least-developed countries in South Asia and Asia Pacific need to invest at least more than twice as much as the regional average— between $2 and $3 per person per day. The SDGs are composed of 17 goals with around 169 targets with

230 global indicators adopted in September 2015. Around 155 indicators with 92 targets under the 17 SDGs are in the approved initial list of SDG indicators for monitoring in the Philippines. The Global Goals aim to end poverty and hunger, promote universal health, education for all and lifelong learning, achieve gender equality, sustainable water management, ensure sustainable energy for all, decent work for all, resilient infrastructure, and reduce income inequality between and among countries. The goals also aim to: create sustainable cities, ensure sustainable consumption and production, take action against climate change, conserve and sustainably use oceans and marine resources, reduce biodiversity loss, achieve peaceful and inclusive societies, and revitalize global partnership for development.

T he Ph i l ippi nes e x por ted 420,344,744 kilograms of bananas, valued at $203.69 million, to South Korea last year, according to PSA data. This was better than the 2017 banana shipments of 379,144,085 kg, valued at $176.55 million. The Philippines, as a memberstate of the Asean, has an existing FTA with South Korea through the Asean-Korea FTA. The two economies are also negotiating parties in the ambitious Regional Comprehensive Economic Partnership The RCEP is viewed as one avenue that Manila can utilize to access Seoul’s market at preferential rates, but the conclusion of the trade deal has yet to be reached.

Villanueva decries veto of provision limiting SWP issuance to the DOLE By Butch Fernandez

@butchfBM

EN. Joel J. Villanueva, chairman of the Senate Labor committee, has voiced dismay over the Palace veto of a special provision in the 2019 national budget limiting the issuance of special work permits (SWP) to the Department of Labor and Employment (DOLE), amid findings that the Immigration bureau had been giving out thousands of these. “We are disappointed that the special provision returning to the labor department the sole authority to issue work permits has been vetoed,” Villanueva said on Wednesday, even as he agreed that “solving the problem of the influx of illegal foreign workers is a shared responsibility” among relevant national government agencies such as the Department of Labor and Employment (DOLE) and the Bureau of

“[The veto is a] temporary setback in our efforts to put an end to the influx of illegal foreign workers here, [but] our resolve to reform the process remains unshaken.”—Villanueva

Immigration (BI). Nonetheless, the senator pointed out that the “lack of monitoring and the irresponsible issuance” of work permits in the past months by the Bureau “only indicates incompetence and worse, corruption.” Villanueva asserted that the role of the DOLE is to vet the entry of foreign workers, while the Bureau of Immigration is in charge of issuing visas to foreign workers only after the DOLE has made a determination “that no Filipino is capable, able and willing to do the job for which the services of the foreigner

is being sought.” He pointed out that the Senate committee hearings they conducted on the issue the past two years, however, “paints a disturbing picture.” “Our public inquiries showed the Bureau’s corrupt practices of issuing expedited work permits through under-the-table payments. Clearly, the influx of illegal foreign workers in sectors that should exclusively be for Filipinos shows the Bureau’s incompetence and complete disregard [of] the welfare of Filipino workers,” said Villanueva. He said while the veto is “a temporary setback in our efforts to put an end to the influx of illegal foreign workers here, [but] our resolve to reform the process remains unshaken.” Villanueva vowed his office will “continue to push for an overhaul in the system by filing appropriate bills, such as amendments to the BI’s charter.”

Tesda revs up training of travel service providers ahead of PHL tourism boom

HE Technical Education and Skills Development Authority (Tesda) has approved training regulations (TR) for tourism workers in anticipation of higher demand for travel service providers. Tesda promulgated the TRs on Tour Packaging Services NC II and on Travel Services NC II to boost tourism. Tesda Director General Isidro S. Lapeña said the regulations are crucial to meeting the rising demand for qualified workers

$1 a day is all it takes to meet SDG in Aspac BOP. . . countries, including PHL Continued from A1

$11.16 billion, from $8.46 billion. PSA data also reported approved investments last year from South Korea fell 44.2 percent to $1.88 billion, from $3.37 billion in 2017. Trade Secretary Ramon M. Lopez told the BusinessMirror that a bilateral FTA will provide Filipino farmers, especially banana planters, greater market access to South Korea. He added it will also pave the way for more collaboration on technology and innovation, such as electric vehicles, electronics and information technology. Manila has been calling on Seoul to reduce its import duty on Philippine banana to 5 percent from 30 percent.

Continued from A1

of the deficit of $266 million seen a year ago. The BSP welcomed the BOP’s return to surplus territory. In a statement issued on Wednesday, the monetary authority said the surplus in the first three months of the year may be attributed to remittance inflows from overseas Filipinos and the net inflows of foreign portfolio investments (FPI) or the so-called hot money during the period. For the first two months of 2019, BSP data indicate that cash remittances amounted to $4.78 billion. This reflects a 3-percent rise from the $4.65 billion level in the same January-to-February period last year. FPI, however, declined to a net inflow of $363.4 million in the first quarter of the year from the $766.05 million in the same quarter last year. This is as March’s transactions hit a net outflow of $739 million, resulting from gross outflows of $2.5 billion and gross inflows of $1.7 billion. FPI are known as “hot” or “spec-

in the tourism industry. “We are anticipating more demand for qualified workers in the tourism industry and, at the same time, there have been some changes in how the tours and travel business is now being done, and so [the] Tesda should keep up with the training we provide,” Lapeña said in a recent news statement. The TR on Tour Packaging Services NC II aims to equip travel service providers with the skills necessary for interpreting and responding to

requests for independent tour services, designing and developing package itineraries and determining cost and selling price. Students who will be certified under this are expected to develop the competency to become a tour packaging staff, tour operations costing staff or staff assistant for tours. On the other hand, the TR for Travel Services NC II was amended to accommodate the demands of the industry, as well as conform with international standards. Elijah Felice E. Rosales

ulative” money because they are easily pulled in and out of the local platforms in the slight change of global and local sentiment. This type of foreign investment is usually a measure of the global economy’s investing sentiment on the Philippines in short-term prospects for yields, in contrast to foreign direct investments (FDI) which are investments placed in the Philippines in search of longterm yield. The United Kingdom, the United States, Singapore, Luxembourg, and Hong Kong were the top five investor countries for the month, with combined share to total at 80.3 percent.

are at an all-time high, and foreign investors are coming back, having poured in around $400+ million as of February,” Roces told the BusinessMirror. “However, these mask the negative in the current account which measures, among others, imports and exports where our imports are high and exports are stagnant. Moreover, OFW remittances— also high for the quarter—are part of the current account which goes to show that the remittances are not enough to cover for the trade gap,” he added. On a positive note, Roces said the country’s high capital account means the Philippines has enough forex reserves to stabilize the peso. “And as long as economic growth stays robust, the export sector gets its support after the budget was signed, and our economic fundamentals remain solid, we see a sustained surplus for the year,” he said. The local currency has been trading on an appreciation bias in recent weeks. On Tuesday, it closed at 51.765 to a dollar. This is an improvement from the 52.413 to a dollar average trade in March.

Word of caution

DESPITE the positive development, Security Bank chief economist Robert Dan Roces said the BSP should not easily rest on its laurels and still keep a watchful eye on external development that might affect the economy. “The surplus reflects the high reserves accumulated by the Central Bank [via the capital account]; our gross international reserves

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Editor: Vittorio V. Vitug • Thursday-Sunday, April 18-21, 2019 A3

House bloc files ‘red-tagging’ complaint against military unit before Comelec T

Heightened alert for PNP, BFP, BJMP during Holy Week–DILG

By Jovee Marie N. dela Cruz

@joveemarie

EMBERS of the House Makabayan bloc on Wednesday filed a complaint before the Commission on Elections (Comelec) against the Armed Forces of the Philippines-Civil Relations Service (AFPCRS) for probable violation of the Omnibus Election Code. The bloc, which includes representatives from party-lists Anakpawis, Bayan Muna, Gabriela, Kabataan and ACT Teachers, accused CRS, the military’s front-line unit in dealing with most civilian affairs, of violating Section 261 of the Omnibus Election Code for blatant red-tagging of progressive party-lists through its official Facebook page. On its Facebook page, the bloc said AFP-CRS accused the Makabayan bloc party-lists as “House fronts” of the Communist Party of the Philippines, National Democratic Front of the Philippines, New People’s Army (CPP-NDFP-NPA), together with a social-media poster of quotations from a certain Dario Bolivar of Liga Independencia Pilipina.

According to the complaint, the act allegedly violated Section 261 of election code which prohibits (d) coercion of subordinates, (e) threats, intimidation, terrorism, use of fraudulent device or other forms of coercion, (i) partisan political activity or intervention of public officers and employees in elections and (o) use of public funds and resources for an election campaign. “The Armed Forces of the Philippines and its Civil Relations Service have been publicly redbaiting and maliciously labeling the Makabayan progressive party-lists and its senatoriable Neri Colmenares as ‘legal fronts’ of the CPP-NPA,” ACT Teachers Rep. Antonio Tinio said.

According to Tinio, the official Facebook page of the Civil Relations Service of the AFP have been posting and circulating e-posters and memes that against the Makabayan bloc. “Posting and circulating online materials that are damaging, dangerous and outright lies that sabotages the legitimate campaign of the party-list for salary increase and for the welfare of teachers and using their official Facebook pages are violations of the Omnibus Election Code for participating in partisan political activity and use of public funds and equipment and facilities for an election campaign,” he added. ACT Teachers Rep. France Castro said the online posts of the official pages and accounts of the AFP and the CRS endanger the lives and safety of our officials, members,

campaign personnel and the sector the groups represent. “By tagging us as House fronts and terrorists, the military and the police paint us as valid targets for their counterinsurgency activities. ACT Teachers party-list, the other Makabayan group of progressive party-lists and senatoriable Neri Colmenares are not terrorist groups and individuals,” she said. “Who are really involved in terrorist attacks against poor and marginalized people? Who are involved in criminal act against civilians? State forces have long been terrorizing the Filipino people for fighting for their rights to land, adequate wages and social services,” Castro added. Gabriela Rep. Emmi de Jesus emphasized that red-tagging, be it offline or online, constitutes a grave threat to activists. With Samuel P. Medenilla

By tagging us as House fronts and terrorists, the military and the police paint us as valid targets for their counterinsurgency activities. ACT Teachers party-list, the other Makabayan group of progressive party-lists and senatoriable Neri Colmenares are not terrorist groups and individuals.”—Castro

HE Department of the Interior and Local Government (DILG) has ordered all local government units (LGUs), the Philippine National Police (PNP), Bureau of Fire Protection (BFP) and the Bureau of Jail Management and Penology (BJMP) to be on heightened alert status to ensure peace and order during the Holy Week. In a news statement, Interior Secretary Eduardo M. Año said that security is a 24/7 job hence the PNP, BFP, and BJMP have been placed on full alert status. As such, they are ordered to implement stringent security measures during the observance of the Lenten season. “Criminals do not rest, so the DILG and its attached agencies must not rest as well. The security of the people is [of] paramount priority, especially during religious events such as the Lenten season which is why the LGUs and lawenforcement agencies must be on top of their game,” Año said. The DILG chief added that LGUs must mobilize local law and traffic enforcers, barangay tanods, Barangay Peace Action Keeping Teams, public safety officers and force multipliers to churches, religious destinations, and even vacation spots. He also encouraged close coordination with local security units such as the PNP and BFP. Local chief executives and local PNP units must ensure the safety and security of airports and seaports, transportation terminals, pilgrimages, churches, markets and other travel destinations and public places in their respective jurisdictions, the DILG chief said. In ensuring the safety and security

of the public, Año has directed the PNP to closely coordinate with the Philippine Drug Enforcement Agency (PDEA) to check all bus drivers for illegal drug use. The DILG chief, meanwhile, commended the PNP for deploying 91,000 cops nationwide “for route security target hardening, and security operations in places of convergence and transportation hubs.” “This will guarantee that there are police officers from the PNP who will assist passengers in terminals, religious destinations and places of convergence. Their visibility will keep the criminals at bay,” he said. The BFP, on the other hand, will implement Oplan Semana Santa and Oplan Lakbay Alalay for the prepositioning of firefighters in high humandensity areas. “Since people will be out of their homes, the Red Alert Status is raised to double-guard the area of responsibilities of the different fire stations. Some of the fire trucks will also be deployed for visibility and will be positioned in major routes taken by travelers,” according to BFP Spokesman FC Insp. Jude de los Reyes. With regard to fire safety, he said, people are reminded to always check electrical outlets and make sure that appliances are unplugged if not in use; properly store combustible liquids and turn off LPGs to avoid leakage; and store matches and candles in dry and cool storage, among others. The BJMP has also declared all jails in full alert status in anticipation of the influx of visitors in the Holy Week. The BJMP National Headquarters will also perform inspections to ensure readiness of jail units. Jonathan L. Mayuga

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House measures declaring three areas as mine-free zones up for Senate nod

By Jovee Marie N. dela Cruz

@joveemarie

HE House of Representatives has endorsed for Senate approval measures declaring several areas in the country as mining-free zones. The lower chamber transmitted to the upper chamber House Bill 8816 declaring the third district of Palawan a mining-free zone, HB 8815 seeking to declare Davao Oriental a mining-free zone and HB 8951 that prohibits all forms of mining operations and activities within the jurisdiction of Nueva Vizcaya. HB 8816 declares the third district of Palawan a mining-free zone, and prohibits all forms of mining operations and activities within its territorial jurisdiction. As stated in HB 8816, “mining” shall refer to the extraction of valuable minerals or other geological

materials, excluding quarrying of gravel, sand and marble. Such shall include large-scale and small-scale mining activities involving exploration, feasibility, development, utilization and processing. Any person, natural or juridical, or any public officer, who violates the provisions of the act shall suffer the penalty of imprisonment of six to 12 years, and fine of P1 million to P10 million. Any public officer who violates the act shall also be dismissed from the service and perpetually disqualified from holding public office. For Davao Oriental, HB 8815, or the proposed Davao Oriental Min-

ing-Free Zone Act declares Davao Oriental a mining-free zone hurdles final reading Rep. Joel Mayo Z. Almario of Davao Oriental, principal author of the measure, said in the explanatory note of his bill that an alarming and pressing issue that the country is facing is that Davao Oriental sits on a 320-kilometer fault line that stretches from Surigao province up to Compostela Valley. This is based on the finding by the Philippine Institute of Volcanology and Seismology-Department of Science and Technology together with the members of the Department of Geophysics at Kyoto University and the Department of Geography at Hiroshima University. HB 8815 shall prohibit all forms of mining operations and activities in Davao Oriental, whether large-scale or small-scale. It shall also monitor the quarrying activities within the province. The bill also provides that all valid and existing mining contracts, exploration permits, licenses, technical and financial agreements and mineral production sharing ag reement s i n accordance with Republic Act (RA) 7942 or the

“Philippine Mining Act of 1995” shall be recognized by the government and shall remain valid until its expiration. However, the bill states that no further extension or renewal of contract, permit, license or agreement shall be granted thereafter. Exploration permits to conduct further exploration activities or application for extension shall, likewise, be prohibited. The bill also seeks to terminate all small-scale mining contracts enunciated in RA 7076 or the “People’s Small-scale Mining Act of 1991.” Affected contractors shall be given one year to undertake rehabilitation, regeneration and reforestation of mineralized areas, slope stabilization of mined-out and tailing-covered areas, watershed development and water preservation. As for quarrying, issuance of permits in the miningfree zone shall be under the direct supervision of the Department of Environment and Natural Resources. The bill stipulates that violators of the act’s provisions shall be penalized with imprisonment of six to 12 years and a fine of P1 million to P10 million. Meanwhile, HB 8951 seeks to prohibit all forms of mining operations and activities within the jurisdiction of Nueva Vizcaya.

Under the bill, all valid and existing contracts, exploration, permits, licenses, technical agreements, and mineral production sharing agreements in accordance with RA 7942 or the “Philippine Mining Act of 1995” covering any area of the province at the date of effectivity of the measure shall be recognized and remain valid until its termination or expiration. However, the government shall not issue new exploration permits or similar other agreements within the jurisdiction of the province. Exploration activities and mining operations under existing exploration permits, mineral agreements and other similar agreements shall be undertaken immediately by the permittee or contractor. Small-scale mining contracts shall also be canceled upon the effectivity of the measure. Affected contractors have one year from the time the measure takes into effect to undertake rehabilitation, regeneration, and reforestation of mineralized areas, slope stabilization of mined-out and tailing covered areas, watershed development and water preservation. Violators of the measure shall face penalty of imprisonment of six months to 12 years, as well as a fine of not less than P10 million.

Labor chief vows to get more jobs for Pinoys in China visit By Samuel P. Medenilla @sam_medenilla

ABOR Secretary Silvestre H. Bello III on Thursday said he would be pushing for increased government presence and more employment opportunities for Filipinos in his forthcoming visit to China next week. In an interview, the labor chief said he will be in China from April 24 to 27 as part of the advance party of President Duterte, who will be there before the end

of the month for the Belt and Road Forum in Beijing. During his visit in China, the labor chief said he will get updates on their pending “exploratory” talks for deployment of Filipino skilled workers there, particularly nurses and caregivers. “I will be there for a possible meeting with the minister of labor to discuss possible labor relations,” Bello said. Currently, the country’s existing labor bilateral agreement with China is for the deployment of Filipino teachers only. Bello said he will also be

talking with his Chinese counterpart for the opening of three new Philippines Overseas Labor Office (Polo) in China as recommended by the Department of Foreign Affairs. The Polos will be in Beijing, Shanghai, and Shenzhen, where there are an estimated large concentration of Filipinos. “We are now getting applicants [for the said posts]. We plan to open the posts before June,” Bello said. After his trip in China, Bello said he will be heading for Singapore for the Asian Ministerial Meeting on the Future of Work.

DAR issues order to streamline, simplify land-conversion process By Jonathan L. Mayuga

@jonlmayuga

“SIMPLIFIED” landconversion process has been put in place to streamline the tedious process of application for land-use conversion, the Department of Agrarian Reform (DAR) said on Wednesday. Through DAR Administrative Order 1, Series of 2019, Agrarian Reform Secretary John R. Castriciones said in a news statement that specific provisions of AO 1, Series of 2002, are amended to ensure the speedy disposition of the said cases. The DAR, the lead-implementing agency of the Comprehensive Agrarian Reform Program and its amended version, CARP Extension with Reform (CARPer) is mandated to approve or disapprove applications for land-use conversion of agricultural lands to nonagricultural purposes pursuant to Section 65 of the Republic Act 6657, as amended by Executive Order 129-A, and paragraph (13), Section 3, Title XI of the Revised Administrative Code of 1987 (EO 292).

Under the Department Administrative Order 01, Series of 2019, no application shall be accepted, docketed and processed unless the documentary requirements for conversion grant are complete and sufficient in form and substance. “When the agricultural land, which is the subject of the application for conversion has been acquired under RA 6657, its conversion shall be allowed only if the applicant is the agrarian reform beneficiary thereof and the applicant upon conversion shall fully pay the price of the land,” reads another section of the new AO. Also, electronic copies of land titles can now be used as a basis for identifying the landholding and its registered owner subject of the application in lieu of a certified true copy of the title except for the following provinces and cities: Sulu (Jolo); Batanes (Basco); Cagayan (Tuao); Basilan (Isabela); Cadiz City, Negros Occidental; Silay City; Negros Occidental; Dapitan City; and Province of Tawi-Tawi (Bongao). Changes concerning requirements from other agencies and

local government units are also outlined in the abovementioned AO. Last February, the DAR clarified that the order merely ensures the streamlining of the process for land-use conversion applications, and that “there is no truth to the erroneous and malicious allegations that the proposed AO is “anti-farmer.” The recently issued and official DAR AO 01, Series of 2019, reflects the directive of President Duterte for all concerned agencies that play a role in determining the requirements provided by the law for land conversion, and come up with a solution that makes sure the process will not be delayed subject to the tiller’s rights and food sufficiency, Castriciones said. To recall, President Duterte has ordered the DAR to distribute government-owned agricultural lands as part of the current administration’s commitment to agrarian reform, and started off with the distribution of remaining agricultural lands on Boracay Island with the Boracay’s Ati tribe members as primary beneficiaries.

New framework to fund $188.09M proposed projects By Cai U. Ordinario @caiordinario

HE first United Nations Industrial Development Organization (Unido) Country Programme with the Philippines is expected to finance at least $188.09 million worth of projects from 2018 to 2023. The framework, signed in 2018, already has 11 ongoing and pipeline projects. Based on the list in the country program, two projects that have been identified are yet to secure their funding, even as nine other projects have secured financing for mobilization. “This Unido Country Programme, the first of its kind in the Philippines, was created to provide a framework to guide the organization in its efforts to support country development priorities in a coherent, strategic, and structured manner, maximizing resources and impact,” the framework stated. The projects will focus on supporting inclusive, sustainable, and innovationled industrialization; fostering green and resilient industrial communities; and cultivating effective partnerships for Inclusive and Sustainable Industrial Development (ISID). Based on the document, the lion’s share of the cost will be allocated to foster green and resilient industrial communities, which will receive $181.52 million until 2023. This is composed of $33.02 million worth of grants and $148.5 million of cofinancing with various donor agencies. Of this amount, the Unido has mobilized financing for $112.69 million. This is composed of $93 million worth of cofinancing and $19.68 million in grants. The component that will receive the second-largest amount is support for inclusive, sustainable, and innovationled industrialization with $6 million, which will be composed of only grants. The amount would still have to be raised through. The last component, which will also receive all grants, is cultivating effective partnerships for ISID worth $500,000. The amount also still need to be raised, according to the Unido. Another $75,000 will have to be raised for monitoring and program management. Data showed that the amount will be spent for monitoring and evaluation worth $25,000, while program management will receive $50,000. “The indicative budget for the Unido Philippine country program is merely for planning purposes only and will be updated regularly as resources are mobilized and new project opportunities arise within the country program period,” Unido said. “In general, funds mobilization to support the country program will be jointly done by the Philippine government and Unido, with the latter providing technical support toward developing project concepts for consideration by donors,” it added. Projects that are still in the preparatory phase include a $14 million global partnership for improving the food cold chain in the Philippines project, and the $30.59-million GEF GOLD Mongolia Philippines: contribution toward the elimination of mercury in the Artisanal and Small-scale Gold Mining sector, from miners to refiners. Those in the identification phase are the $5-million renewable-energy technologies for seaweed value added in Tawi-Tawi, and the $6-million projects on innovation to support industry 4.0 and the resurgence of the manufacturing sector. Projects that were labeled as being on the implementation phase are the $27.17-million Philippine industrial energy efficiency project; $42.12 million implementation of polychlorinated biphenyls management programs for electric cooperatives and safe e-wastes management; and $10.64-million Demonstration of Best Available Technology and Best Environmental Practice in open burning activities in response to the Stockholm Convention on Persistent Organic Pollutants. The list of projects under the implementation phase includes a $49-million project on sustainable cities; $2-million technology transfer on renewable-energy technology through south-south and triangular Industrial cooperation; and $1-million mitigating toxic health exposures in low- and middle-income countries.

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NGCP energizes P3.3-B reinforced grid in Bataan

By Lenie Lectura @llectura

HE National Grid Corp. of the Philippines (NGCP) has energized its P3.3billion improved substation and transmission line in Bataan, enabling a more reliable transmission of power in the province.

GO PLOW A farmer uses a hand tractor to plow a rice field before planting palay seedlings In Tanay, Rizal. El Niño continues to wreak havoc

on some parts of the country while farmers pray for the rain to come. Former Agriculture Secretary William D. Dar has said the government should not be contented with a 93-percent rice self-sufficiency ratio as climate change is threatening the country’s farm productivity. BERNARD TESTA

DOH, Davao City open two more Botika ng Bayan outlets

AVAO CIT Y—T he cit y go ve r n me nt a nd t he Department of Health (DOH) opened two new pharmacies here to allow more access to medicine needs of more indigent Dabawenyos. The pharmacies, called Botika ng Bayan (BnB) outlets, are in the District Health Centers of Toril, 19 kilometers west of downtown, and Bunawan, 22 kilometers northeast of downtown. These city pharmacies provide free medicines to indigent residents. The two outlets brought to seven the number of BnB outlets in the city. The previous ones were put up in the Lingap Center at the Southern Philippines Medical Center, the City Health Office, and in Calinan, Toril and Bunawan District Health Centers. Josephine Villafuerte, head of the City Health Office (CHO),

VACC expels group’s Pampanga coordinator

LARK FREEPORT–Volunteers Against Crime and Corruption (VACC) President Arsenio G. Evangelista announced here on Tuesday the expulsion of its Pampanga coordinator, Pyra Lucas. Lucas, to note, is also gunning for a seat in the Mabalacat City local government. Evangelista cited VACC Board Resolution 3, which was unanimously signed by the Trustees earlier this month, formalized Lucas’s banishment from the VACC. He added that Lucas has “seriously and utterly undermined and violated the basic principles and policies of the organization to fight crime and corruption, and to support and assists the victims.” Evangelista also assailed Lucas for not informing the VACC of her filing of a certificate of candidacy for city councilor of Mabalacat City in Pampanga. “The VACC remains a nongovernment organization, is nonpolitical and is an apolitical organization,” he said. Evangelista said the VACC’s expulsion of Lucas is without prejudice to the filing of appropriate cases against her. The Board Resolution said Lucas is “prohibited, banned and barred from representing herself as member and regional coordinator of the organization, from using and invoking VACC in any and all her activities or endeavors, and from acting and representing in behalf of the organization, its officers and members.” Ashley Manabat

said the city government is aiming for more BnB outlets in the other districts. “We are looking forward to have this in every district to accommodate the needs of Dabawenyos in terms of medicines,” Villafuerte said. She added that patients could just go to the BnB, present their prescriptions and get their medicines without paying a single centavo. “If it is for maintenance they can have medicines good for a month,” Villafuerte added. “If it’s antibiotics we can give them a supply that will be good for a week.” The DOH would take care of the stocks of the BnB for three years, after which the city government would be responsible on replenishing the stocks of medicines. The BnB was an additional feature of the city’s health pro-

gram. The program shoulders the medical and hospitalization bill of indigent patients. With the BnB, indigents would be provided with the medicines after hospitalization. While it extended more benefits to the health services, the city government has also warned residents against abusing it. It has since posted streamers across the entire length of many pedestrian overpass in areas where many of the indigent families live. The messages in the streamers appeared to be effective, where areas in Toril, Mintal and Tibungco, for instance, have motorcycle drivers now wearing crash helmets for them and their passengers. These areas were previously notorious for violating the helmet and other traffic laws, and where in some instances, traffic enforcers were killed by aggrieved motorcycle drivers. Manuel T. Cayon

DPWH begins construction of 2 flood-control projects in Cavite

HE Department of Public Works and Highways (DPWH) has started two flood-control projects—costing roughly P8.87 billion—in the province of Cavite. Unified Project Management Office Flood Control Management Cluster Office Project Director Patrick Gatan said the Cavite Industrial Area-Flood Risk Management Project (CIAFrimp), which will be implemented in nine municipalities, has started construction. “We will be working along the 146.8 kilometers of the province’s San Juan River Basin and the 4.7 kilometers of Maalimango Drainage Area,” he explained. “Imus City, Noveleta, Rosario, Kawit, and General Trias will be the major beneficiaries of these main components.” The whole program, which calls for the construction of flood control structures, has a price tag of P7.4 billion. Gatan said the nonstructural measures of CIA-Frimp will involve waterways cleanup, river area and flood control area management, enactment of ordinance for on-site flood regula-

tion pond, and development of flood forecasting and monitoring system for flood warning and evacuation. The other project, he said, involves the construction of two retarding basins in the cities of Bacoor and Imus. The P1.47billion project is now 23 percent completed. “When completed, Imus Retarding Basin will have a 118 meter in length overflow dike, 1.3 kilometer of surrounding dike, 1.1 kilometer of separating dike, standing an average of 3 meters in height. T he DPW H w i l l be excavating approximately 2 million cubic meters of soil to unearth 7 meters in depth in the a 35-hectare land area,” he said. The Bacoor Retarding Basin, on the other hand, will require the DPWH to excavate 250,000 cubic meters of soil to dig 7 meters in depth within a 9.2 hectares of land and construct 30 meters of overflow dike, 1.06 kilometer of surrounding dike and 590 meters of separating dike, standing an average of 1 meter. Lorenz S. Marasigan

The Bataan 230-kV (kilovolt) Gr id R e i n force me nt P roje c t is composed of the HermosaBataan Combined Cycle Power Plant Line 3, the BCCPP Substation Bay 81, and its associated equipment. T he said project strengthens t he power t ra nsm i ssion and enables the dispatch of the ful l capacit y of existing and i ncom i ng generat i ng pl a nt s, i nc lud i ng t he 6 0 0 -megawat t (MW) coal-fired power plant in Limay, Bataan. “ With the continuous load growth to service the rising demand for power in Luzon, partic-

ularly in Bataan and the nearby province of Pampanga, there is a need to increase the capacity of the existing 230-kV corridor to improve transmission services in the area,” NGCP said. “The energization of the Bataan 230-kV Grid Reinforcement Project makes this possible and enables the more stable and reliable power flow to our customers.” T he projec t a l so compl ies with the N-1 standard set by the Philippine Grid Code, which is the grid’s ability to withstand a m ajor s y stem d i st u rba nce w it h m i n i m a l d i sr upt ion to the system.

“ This project will help address low voltage concerns in L u z on , i f a ny, a nd i mpro ve t he qu a l it y of power t ra n s m itted to d ist r ibut ion ut i l ities, industries and businesses which we ser ve in the area,” NGCP added. The project was included in the list of the projects certified as Energy Project of National Significance by the Energy Investment Coordinating Council last January 2019. Besides the expansion of the BCCPP Substation, other components of the Bataan 230-kV Grid Reinforcement project such as the Limay Substation and San Rafael Substation are still up for completion by the third quarter of 2019. “We continue to appeal for the support and cooperation of the public, especially the local government units, to help us achieve our target energization for these projects which will greatly benefit our customers by ensuring the stable and uninterrupted transmission of power across the grid,” NGCP added. The NGCP is a Filipino-led, pr ivately ow ned compa ny in charge of operating, maintaining and developing the country’s power grid, led by majority shareholders Henry Sy Jr. and Robert Coyiuto Jr.

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DOF: China loan provisions not alarming By Rea Cu

@ReaCuBM

HE provisions in the country’s loan agreements with China are standard in all other loan accords with other states and even with multilateral institutions such the World Bank and the Asian Development Bank (ADB), the Department of Finance (DOF) has reiterated, allaying concerns that vital Philippine assets used as collateral would be seized under the terms of default.

“No takeover of our state assets is possible because we do not provide any collateral for any of the loan agreements we have entered into with any government,” Finance Undersecretary Bayani H. Agabin said. In a statement issued on Wednesday, Agabin pointed out that the waiver-of-immunity and arbitration clauses under loan accords are standard in any loan agreement forged between countries. “These clauses are present not only in the loan agreements between the Philippines and China under the current government, but also in other loans accords entered into by previous administrations, with, among others, France, and China,” said Agabin, who heads the DOF’s Legal Affairs Group. Although in some agreements,

the waiver of immunity is not explicitly stated, Agabin noted that “all of them have arbitration clauses, which is effectively an implied waiver of immunity.” He further explained that the country’s Supreme Court already affirmed this in one of its rulings, which states that “an agreement to submit any dispute to arbitration may be considered as an implicit waiver to immunity from suit.” “Thus, even if the loan agreements with China do not contain the waiver-of-immunity provision, the arbitration clause in the accords already imply a waiver of immunity from suit,” Agabin added. Supreme Court Senior Associate Justice Antonio Carpio was earlier reported as saying that China may seize oil and gas fields in the Reed Bank in case of default in the repay-

BOC creates separate monitoring unit to track progress in priority agenda T HE Bureau of Customs (BOC) is setting up a monitoring unit envisioned to help it attain its plans and programs under a 10-point priority agenda this year, as it strives to meet its revenue-collection targets, as well as improve its processes. Customs Memorandum 201904-013, signed by Customs Commissioner Rey Leonardo B. Guerrero on Monday, calls for the creation of a monitoring unit that will enable the bureau to meet its goals and programs under the commissioner’s priority agenda. The monitoring unit shall be composed of the focal persons of the different offices within the BOC with prepared plans for 2019, to be headed by the office of the chief of staff (Ocos) under the office of the commissioner (Ocom). “Atty. Marlonfritz B. Broto and Atty. Vener S. Baquiran, of the Ocos, Ocom are hereby designated, effective immediately, as chairman and cochairman of the monitoring unit. Their designations, however, shall

not entitle them to any remuneration or additional emolument,” the memorandum said. In January, Guerrero revealed his 10-point priority agenda, which aims to help the bureau meet its collection goals, as well as improve its procedures, among others. His 10-point priority agenda for 2019 entails: n Enhancement of the BOC Information and Technology System, which involves automation to improve the bureau’s processes and integrate its systems for more efficient and effective operations. n Filling up of vacant plantilla positions, with the BOC hiring more capable and committed manpower to fulfill its mandate of delivering better service. n Provision of incentives for Customs employees involving promotions and rewards being conducted to improve the morale and motivate people to perform their jobs better. n Restructuring of the BOC organization, wherein new offices

and positions will be created, while redundant or overlapping functions will be merged in the interest of streamlining and upgrading the organization. n Enhancement of BOC facilities, with the provision of proper environment and facilities for optimum output. n En h a nce me nt of C a r go Clearance and Examination Capabilities: The bureau will put in place programs and processes that will strengthen BOC capabilities in fulfilling its core mandate. n Enhancement of Intelligence and Enforcement Capabilities, which aims to strengthen institutional and individual capabilities in the area of intelligence and enforcement to ensure that the bureau is able to contribute to the border security and economic development. n Codification and Harmonization of implementing rules and regulations (IRRs), administrative orders and memorandum orders. This involves the cleaning up and

integration of the rules and regulations that help execute BOC mandate to provide clear and accessible guidelines for all concerned. n Creation of a Quality Management System and Integrity System, wherein the BOC will fast-track the creation and institutionalization of systems that uphold quality and integrity. n Pursue the Passage of Customs-Related Legislative Measures, wherein the bureau will pursue proper legislation as foundation for the many innovations that will be implemented for a more dynamic Customs organization. Based on the latest BOC data, the revenue collection as of March 29, 2019, amounted to P52.437 billion, breaching the target for the month of P51.507 billion or by 1.81 percent. This also posted an increase of about 15.5 percent from the P45.398 billion recorded in March 2018. Of the 17 ports in the country, 11 exceeded their monthly collection target for March while six ports failed to do so. Rea Cu

Study Xi Jinping thought to win cheap bank loans

NEW method for small business owners to gain the favor of bank managers and obtain credit is emerging amid China’s push to support the real economy: studying Xi Jinping thought and promoting the Communist Party. Zheji a ng Ta id a Mini at u re Electrical Machinery Co., a producer of ventilating fans, this year received a so-called “red impetus loan” of 3 million yuan ($447,000), said Chairman Qiu Rongqu a n at t he compa ny ’s booth at the biannual Canton Fair, billed as the world’s largest trade forum. The loans are granted to companies that have solid businesses after doing good work promoting the Communist Party, he explained. Hu zhou c it y gover nment, which oversees Deqing county where the company is based, said

JINPING

in an April 11 statement that the loans are guarantee and collateral free, with reduced interest rates to help private companies develop. Qiu said his company received the loan at the benchmark interest rate, whereas it would usu-

ally pay 20 to 30 percent above the rate. C h i n a’s g o v e r n m e nt h a s ramped up support for the economy in recent months, bringing forward spending and trying to channel cheap credit to private businesses. That’s helped stabilize economic growth and underpin sentiment that has been slug ged by uncertaint y stemming from the trade war with the US. While the private-enterprisefocused stimulus is a departure from past policies that typically revved up investment and stateowned firms, the “red impetus loans” underscore the fact that the government and party remain active players in steering credit.

Study Xi

QIU said he began improving his company’s work promoting the

party about four to five years ago, and now it has 12 party members out of its 170 employees. He encourages employees to use “XueXi-Qiang-Guo,” or “Study Xi to Strengthen the Country,” an app that promotes President Xi’s ruling doctrines, he said. “The party building work has paid off,” said Qiu. “We have got the government support. It means a lot.” The “red impetus loan” may help with Qiu’s plan to invest 5 million yuan this year on research and development, upgrading machinery and attracting talent. He’s striving to close the quality gap on his major competitors in Germany and Taiwan and aims to increase the company’s share of the global market from about 10 percent now to 30 percent at some point in future, Qiu said. Bloomberg News

ment of the $62-million loan accord for the Chico River Pump Irrigation Project with China. This in turn spurred queries on the country’s loan agreements with China. Agabin emphasized that concerns over the waiver-of-sovereign immunity clause in the loan accord between the Philippines and China for the Chico River Irrigation Project are unfounded, given that this part of the agreement only allows the “counterparties” to seek arbitration in case of a loan default, but not a Chinese takeover of any of the country’s properties. Earlier, former Bayan Muna Party-list Rep. Neri J. Colmenares also pointed out that the Chico River Pump Irrigation project, with the loan agreement signed by the Philippines and China, are “oner-

ous and one-sided” and that it “is a disaster for the Philippines.” In March, the DOF explained that loan agreements entered into by the government with other countries undergo a rigorous vetting process, with the agreement going through an Interagency Committee composed of the Department of Justice (DOJ), Bangko Sentral ng Pilipinas (BSP) and DOF. The process was pointed out to help ensure that the terms of the loans are within the parameters of the Philippine government. DOF Assistant Secretary Antonio Joselito G. Lambino II earlier said that apart from the rigorous vetting process undergone by the loan agreements, an arbitration clause is also negotiated, which protects the interest of the Philippines.

BOC order clarifies limits of its power to stop smuggling, attain border security

HE Bureau of Customs (BOC) has issued an administrative order covering the exercise of its jurisdiction and police authority, in a bid to boost its anti-smuggling efforts and border security mandate. Under Customs Administrative Order (CAO) 03-2019, the BOC strengthened the exercise of its jurisdiction and police authority on all imports entering the country, as well as exports for shipment, including persons or carriers suspected to be carrying smuggled items in violation of the Customs Modernization and Tariff Act (CMTA). The objective of the CAO’s issuance is to further clarify the extent, as well as the limits for the exercise of Customs jurisdiction and police authority, including border protection and suppression of smuggling and other Customs fraud; implement a clear and effective system in the exercise of Customs jurisdictional control as imported goods enter the country and after their release—a matter that is also implemented for exported goods; and the establishment of transparent procedures in line with the deputization of members of the national lawenforcement agencies (NLEAs). The CAO added that the initiative is meant to “provide conditions for the exercise of police authority by Customs officers or deputized officers in the apprehension of smuggled or prohibited goods, including those in the free zones.” Free zones are explained to be special economic zones registered with the Philippine Economic Zone Authority (Peza), while NLEAs refer to agencies responsible for enforcing the law, including the apprehension of criminal offenders. Customs jurisdiction refers to the BOC’s exercise of jurisdiction over all seas, lands, coasts, ports and airports, among others, which are within the Philippine territory. The deputization order can only be issued by the Customs Commissioner, and only if there is a lack in manpower or when the risk of security and safety is high in the area of operation. The deputization order should state its validity period which cannot

exceed one year from issuance unless earlier revoked. The order further lists the prohibited and restricted importation and exportation of items like adulterated or misbranded goods for human consumption, illegal drugs, and firearms or weapons of war, among others. Furthermore, the CAO states that persons authorized to exercise police authority in the BOC in accordance with anti-smuggling laws include its employees and officials, as well as officers of the Armed Forces of the Philippines (AFP) and the NLEAs upon authorization of the Customs Commissioner, and officials of the Bureau of Internal Revenue (BIR) in cases falling within the regular performance of their duties. “Considering the peculiar structure and organization of airports, free zones, postal facilities and seaports, the bureau shall enter into appropriate memoranda of agreement with the agencies concerned for the effective performance of their mandates, including unhampered access to the premises given to authorized Customs personnel,” the CAO added. The authorized personnel exercising police authority under the CMTA have the power to seize vessels, aircraft and cargo, among others, subject to forfeiture. They are also allowed to ask for information or assistance from the Philippine National Police (PNP), AFP and NLEAs, to effect any search, seizure or arrest. “The bureau shall endeavor to acquire and upgrade its own equipment and resources, and coordinate with other government agencies to enhance its maritime law-enforcement capabilities,” the CAO said. The CAO is subject to review every three years, to be amended or revised if necessary. Earlier in the month, the BOC-Port of Zamboanga reported that it seized smuggled cigarettes worth P35 million—the biggest in the history of the port. The seizure was made through the combined efforts of the Port of Zamboanga, the AFP, the Philippine Navy and the Philippine Coast Guard (PCG). Rea Cu

Malayan Insurance holds talk on art conservation

RICKY FRANCISCO, curator of Lopez Museum and Library and director of Fundacion Sanso, provides useful information on art conservation through the “A Conversation on Art Conservation” talk held at the Makati Shangri-La Hotel during the 2019 Art Fair Philippines. PHOTO COURTESY OF MALAYAN INSURANCE

ALAYAN Insurance, the country’s leading nonlife insurer, in partnership with London-headquartered reinsurance broker RKH Specialty, recently hosted a talk on conservation practices for fine art on the occasion of Art Fair Philippines 2019. The talk, entitled “A Conversation on Art Conservation,” was conducted by Ricky Francisco, curator of Lopez Museum and Library and director of Fundacion Sanso. Francisco pointed out that art conservation

goes beyond reparative work and restoration; it starts with preventive conservation, or stalling and minimizing possible damages brought about by the passage of time and uncontrollable factors, such as climate and natural degradation of materials. The talk was attended by a number of key figures in the Philippine art scene, such as collectors and gallerists, as well as insurance agents and brokers. Malayan Insurance is once again the official insurance partner of Art Fair Philippines 2019.

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WHY SM CITY’S NORTH TOWERS IS THE NEW WEEKEND DESTINATION L

IKE a city that keeps on growing, SM City North Edsa recently opened two levels of exciting retail space at its newest lifestyle hub, The North Towers.

A sophisticated fusion of high-end retail, exquisite dining choices, beauty and wellness this brings fun experiences for families and friends. Located on a 334,498 site at the east of The Block, the North Towers complements the SM City North Edsa story, adding another chapter to the first SM mall in the Philippines. And the two- floor retail area feature community spaces for fun activations, art exhibits, food events and others. With 2015 SM Little Stars Grand Winners Annastacia Penny and Andre Navarro as our guides, here is a mini tour of how weekends can be fun and exciting as we indulge into fun and interactive areas, pet-friendly zones, and a minigallery for art enthusiasts that the whole family will love. The North Tower’s Art Walk

welcomes shoppers with a row of colorful murals created by 15 of the country’s most sought after painters, calligraphers, and digital artists. This is not only a place for art enthusiasts, but also perfect for your Instagram feed photos and memories for family and friends. The North Towers is also a haven of exciting activities for kids and kids at heart! Little ones will definitely love to swim in an ocean of colorful balls in the Bubi Ballpit City or jump to their heart’s content at Bounce, the country’s no. 1 trampoline park, and enjoy a total of 8 interactive areas that focus on movement and physical activities that jump enthusiasts will surely enjoy. Your weekend list is will not be complete without a visit to Kidzoona, the no. 1 indoor playground in the world which gathers kids and their parents in an interactive world of play of indoor slides, push cars, bikes, building blocks, and even doll houses where kids and their parents can dress up and role play. The Sports Zone Game Center, on the other hand, offers the latest video games, slot machines, indoor basketball rings, and many more to give everyone a fun arcade experience. Take a fun break at Elait! which serves artisanal rolled ice cream and yoghurt with delicious flavors and toppings to choose from. Aside from serving this delicious dessert, Elait! also aims to raise social awareness while helping members of the country’s deaf community by having them as partners in branches around the Metro area. They encourage everyone to learn basic sign language to communicate with

their deaf-mute partners while enjoying a cup of Elait! ice cream. Or take your pets to Barkin’ Blends dog café, which offers a wide selection of food for your furbabies that ranges from dogfriendly menu of donuts and

burgers. You can also enter their Dog Zone and just enjoy the company of other loveable and furry Barkin’ Buddies you’d love to pet for the day. When completed, the North Towers complex will also

include a chapel, 5 BPO Towers, and the Park Inn by Radisson Blue Hotel. The North Towers also offers shopping convenience to its mall customers with seamless building connection from SM City North Edsa Annex, City Center, and The Block, and provides six levels of parking above the retail space giving 2,023 parking spaces. Come and visit the North Towers for a weekend escape in the Metro for a new level of shopping, dining, and entertainment experience for friends and the whole family! 1. Beat the summer hear with Elait!’s unique selection of delicious artisanal rolled ice cream flavors that you can top with marshmallows, nuts, or chocolate that you like! 2. Dive in, have fun and experience Bounce, the leading trampoline park with a total of 8 interactive areas that focus on movement and physical activities. 3. Kidzoona at North Tower gives kids endless hours of play in ball pits, indoor slides, push cars, bikes, building blocks and even doll houses where little girls and little boys can dress up and play! 4. Kidzoona at North Tower gives kids endless hours of play in ball pits, indoor slides, push cars, bikes, building blocks and even doll houses where little girls and little boys can dress up and play! 5. Enjoy your weekend with families or friends and visit Sports Zone Game Center with a wide variety of arcade games, machines, and kiddie rides that you will surely love! 6. Enjoy your weekend with families or friends and visit Sports Zone Game Center with a wide variety of arcade games, machines, and kiddie rides that you will surely love!

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If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

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In the ad material of Notice of filing of Application for Alien Employment Permits published on March 27, 2019, the applicant of INVECH TREASURE PROCESSING CORPORATION should have been read as Ms. Ren, Jiaxin and not as published. If you have any information/objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400 6011.

ATTY. ANA C. DIONE, CPA REGIONAL DIRECTOR

FUN YET WORTHWHILE EASTER STAYCATION ACTIVITIES By Trisha Jean V. De Leon

CHILDHOOD memory from a not-so-distant past may remind you of those Easter Sunday, when you eagerly look for the fancylooking eggs your parents hid in your backyard. It’s a reminiscence of your younger self, which can make you feel a bit nostalgic. Yet, growing up has surely changed the way you see Easter, especially considering your jam-packed schedule. Now, it’s a time to not only celebrate the resurrection of Christ, but also to rejuvenate your weary soul. To help you make the most of your Easter, here’s a quick rundown of the things you may add to your staycation to-do list.

Movie marathon

IF the introvert in you kicks in, why not binge on your all-time favorite movies? Streaming old and new films for a few hours will help you relax and chill

without leaving your humble abode. Plus, it will help you destress and relieve your holiday blues. In 2017 researchers found out that watching television has the potential to reduce women’s stress. In fact, the more a woman watched TV, the lower her cortisol levels were. This hormone is known as the “stress hormone”, which is linked to higher blood pressure, weight gain and depression. Wondering where to find the hidden gems of the cinematic world? Check out Netflix, an American mediaservices provider that lets you access a vast number of TV shows or flicks. You may choose which subscription package will best fit your needs. The best movies you can stream in Netflix include Eternal Sunshine of the Spotless Mind (2004), Pulp Fiction (1994), Room (2015), and Bonnie and Clyde (1967).

Home massage

MASSAGE is also a good way to

destress. Get in touch with your local masseuse or masseur who offers home service. This way, you’ll get the kind of pampering you deserve. In the Philippines hilot is the most popular massage technique. The manghihilot use special ointments to relieve body pains and cure some ailments. Training for a manghihilot, however, often begins at an early age, since it’s considered a gift that should be passed on to the next generation.

Baking and cooking session

YOUR hectic schedule has probably hindered you from baking or even cooking. With the Lenten season almost wrapping up, prepare some delicious meals that your family and friends can enjoy. However, get the supplies ahead of time to avoid the hassles of going

out to the grocery during Easter. Jot down all the ingredients that you’ll need to ensure that your homemade dishes won’t disappoint.

lounge through the rest of the day. A delicious snack and a refreshment may also be necessary, especially with the warm summer weather.

Egg painting

Sleepover with your pals

KEEPING a child busy is quite challenging, especially if it involves diverting their attention from their computer, smartphone or console. Nevertheless, giving them an outlet to express their artistic side can help change their old habits. This Easter introduce them to the egg-painting tradition. You’ll only need to provide art materials, such as watercolor, paintbrush and pencils, to get this project started.

Reading

FOR bookworms, Easter is a perfect time to read and delve into a classic or contemporary novel. It’s not as demanding as the other activities we have listed here, since you’ll only need a reading nook where you can

THERE’S no need to spend your Easter alone if you have an amazing set of friends that you can invite for a sleepover. However, you may need to tidy up your home before your guests arrive. You should also come up with a theme for your slumber party to make it more fun and enjoyable. For millennials, set up a rule where no one is allowed to use their smartphones. This will allow you to catch up with your pals without the constant buzzing of phones.

Nail makeover

IT’S the season for flip-flop again,

and your nails should also always be picture-perfect. If you’re into nail art, you may look for some do-it-yourself designs that you can easily replicate. Remember, however, to use the right tools to avoid making a mess of your toe or fingernails.

Home redecoration

REVAMP your home by adding new features that will enhance its aesthetic appeal, energy efficiency and curb appeal. But before changing the interior design, you may want to start decluttering. This will allow you to maximize every square footage and design your home in the most practical way. After eliminating the clutter, think of the areas that you want to prioritize. Remember that you’ll only have a day to finish the task, so it’s best to pick one that you can do within a few hours.

A14 Thursday-Sunday, April 18-21, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

Stopping the worst form of persecution

OLY Week is the most important week of the entire liturgical year. It begins on Palm Sunday and continues until Easter Sunday. It is a time when Catholics celebrate in a special way the life, death and resurrection of Jesus. As we contemplate on what Jesus accomplished by dying on the cross, let us remember that even in this day and age, there are places in the world where Christians are being persecuted for their faith. These Christians are carrying their cross and following Jesus in a very real way. Catholics in the Philippines are lucky compared to the persecuted Christians in other parts of the world. Although Filipino Catholics are not called to give the ultimate sacrifice, they must stand and empathize with persecuted Christians. A Newsweek article written by Cristina Maza said that the persecution and genocide of Christians across the world is worse today “than at any time in history,” and Western governments are failing to stop it. A report from a Catholic organization, Aid to the Church in Need, said: “Not only are Christians more persecuted than any other faith group, but ever-increasing numbers are experiencing the very worst forms of persecution.” Around 215 million Christians face significant levels of persecution in the world today, according to the latest World Watch List from Open Doors. Researchers for the organization said one in 12 Christians live where their faith is “illegal, forbidden or punished.” During reporting for the 2018 World Watch List, 3,066 Christians were killed, 1,252 were abducted, 1,020 were raped or sexually harassed, and 793 churches were attacked. Much of the violence and oppression of Christians was concentrated in several nations that dominate the list, especially in North Korea. An international Christian organization has warned that the persecution of Christians worldwide is set to rise in 2019—and it is calling on the United States to intercede. Release International, a UK-based charity that helps persecuted Christians around the world and a partner organization of Voice of the Martyrs, warns that in 2019, particularly in China, India and Nigeria, persecution against Christians will continue to rise. “These are countries that have long been on the list but we’re seeing an upward curve, an alarming rise in persecution,” said Andrew Boyd, Release International spokesman. “Release has been doing this work for 50 years,” Boyd added. “I have no doubt that persecution is increasing, and it is alarming, and the contexts are different. You have militant Islam in Nigeria; China, which is communism; India, which is militant Hinduism; and North Korea, which is a weird blend of communism and emperor worship. There is an increasing intolerance, and it’s being played out in violence, and we know it because of the reports that are coming from our partners on the ground.” There are many ways to help persecuted Christians around the world. We can pray for them, volunteer or give financial assistance to missions. Christians facing persecution for their beliefs need our help. Since 2005

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HE Senate, based on the revelation of Sen. Juan Ponce Enrile, who’s running again under the Pwersa ng Masa, has its own records to guide it in evaluating anew the performance of concerned corporations amid the water and electricity shortage and soaring prices currently affecting large portions of Metro Manila and neighboring provinces. Last week, Senate President Vicente Sotto III said the current situation gave more reasons for the Senate to debate and pass the Public Services Act under Senate Bill 1754 and review the franchises and performance of all concerned corporations. “It is the policy of the state to ensure that the consuming public’s satisfaction and quality of life shall be the yardsticks for an effective regulation of public-utility providers without compromising the reasonable rate of return of the latter,” Mr. Sotto said. Section 32 of the proposed measure provides: “Any public-service corporation that shall perform, commit or do any act or thing forbidden or prohibited or shall neglect, fail or omit to do or perform any act or thing to be done or performed, shall

be punished by a fine of not exceeding P5 million, or by imprisonment of not lower than six years and not higher than 12 years, or both, in the discretion of the court.” On record, it was Harvard-trained lawyer Enrile who consistently opposed the systematic plunder of the energy sector and the administration’s Electric Power Industry Reform Act (Epira) that institutionalized the controversial Purchase Power Adjustment fee to cover the purchasing cost of power supplied by independent energy suppliers after the Aquino regime outrageously dismantled the debt-free Marcos energy program. Before the Epira controversy, Enrile also exposed multibillion-peso scams of every size, shape and make in the energy sector involving high

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government officials and powerful oligarchs in the private sector who were not only responsible for the inceasing prices of electricity and brownouts but also for serious criminal negligence. Two well-researched books, Greed & Betrayal and A Country Imperiled, published by Amazon, the world’s largest publishing house, also detailed the systematic pillage of the energy sector beginning with President Corazon Cojuangco Aquino that saw the country and its people endlessly suffering from the high cost of electricity. But instead of investigating Enrile’s exposé, the Aquino administration and others persecuted and jailed him, probed his family and friends, subjected them to prejudgment of guilt and again charged him with rebellion, and later with graft and corruption. A closer look at the country’s energy situation for 12 years (19731985), a specific period covered by President Marcos’s total energy plan in preparation for the country’s industrialization, was successfully implemented with the right mix of regulated policies and saw the steady, low-cost supply of oil and cheap electricity to consumers. In that period, the Marcos administration had succeeded in reducing the country’s 100-percent dependence on Middle East oil to 92 percent in 1973, 71 percent in 1980 and 57 percent in 1984. By 1985,

the Philippines stood as the world’s second-largest user of geothermal power, next to California, resulting further to 44-percent reduction of the country’s dependence on imported oil. This is worth billions of pesos in savings for the country. Then President Aquino issued Executive Order (EO) 215 that deregulated the energy industry and deliberately privatized its moneymaking corporations and subsidiaries, including the National Power Corp. (NPC); Philippine National Oil Corp., a successful Philippine firm featured successively in Fortune’s 500 Best Corps.; and the highly profitable Petron that served as a buffer against foreign oil production and distribution monopoly. Petron then controlled 40 percent of the fueldistribution network in the country. Before its privatization, the NPC, whose income between 1977 and 1985 rose from P0.4 billion to P18 billion in sales revenue, had total assets of P107.2 billion. The Aquino administration systematically broke it up and privatized the majority of its operations, including generations, transmissions and distribution under the guise of ridding government monopoly in power distribution. What paved the way for the foregoing was President Aquino’s abolition of the MOE four months after the Edsa revolt and placed it under the full control of her office. See “Arillo,” A15

New York and religious law agree on vaccinations

Jennifer A. Ng Vittorio V. Vitug

Ruben M. Cruz Jr. Angel R. Calso

MEMBER OF

Cecilio T. Arillo

Lourdes M. Fernandez

Online Editor Social Media Editor

Chairman of the Board & Ombudsman President VP-Finance VP Advertising Sales Advertising Sales Manager Group Circulation Manager

No need to go far, Enrile’s exposé on energy irregularities are on record in the Senate

Noah Feldman

BLOOMBERG

GROUP of parents filed suit on Monday against the New York City Department of Health to block an emergency order requiring measles vaccinations for everyone in four ZIP codes in the Williamsburg neighborhood of Brooklyn. The threat of measles—and the opposition to vaccination—isn’t coming from the hipsters who populate some parts of the neighborhood. The target is a community of mostly Hasidic, haredi (ultra-Orthodox) Jews, who have refused vaccination for quasi-religious reasons and who are now caught in the middle of a measles outbreak that city health officials fear could spread fast and dangerously. One yeshiva’s preschool program has already been closed as a health hazard. Forced vaccination is a classic instance of a situation where the courts have to balance individual liberties against the public interest. The US Supreme Court’s jurisprudence on the topic goes all the way back to 1904. Under existing law, there is strong reason to think the city will win and will be able to fine refusers $1,000 in an effort to compel vaccination. What makes the current case especially fascinating is that the refusal to

vaccinate isn’t simply that of isolated individuals who question the health value and assert a fundamental right to be free of bodily intrusion by the state. The Williamsburg Jews who are refusing vaccination live in a highly concentrated community. That makes them much more dangerous, medically speaking, than anti-vaccination activists spread thinly across the country— because an outbreak can infect a whole community and then spread outward.

Simultaneously, the community’s claim to be free of vaccination doesn’t rest solely on the right to be left alone, but could also be grounded in a right to the free exercise of religious liberty. Measles isn’t a trivial disease. According to the Centers for Disease Control and Prevention, “as many as one out of every 20 children with measles gets pneumonia.” Roughly one child in a thousand who gets measles will develop encephalitis that can produce convulsions, deafness or intellectual disability. Somewhere between one and two out of every thousand kids who get the disease die from the complications. The vaccine is fairly effective, but not completely so—and that is the major source of the problem. A single dose is 93-percent effective; two doses raise that rate to 97 percent. That means even a vaccinated population can be vulnerable to getting the disease from people who are infected. It follows that the people who don’t vaccinate themselves or their children for measles aren’t just endangering themselves. They’re also imposing a spillover effect on the rest of the population that is vaccinated—and that could still become infected in an epidemic. In the early 20th-century case of Jacobson v. Massachusetts, the Supreme Court upheld a compulsory vaccination law, explaining that the Constitution

“does not import an absolute right in each person to be, at all times and in all circumstances, wholly freed from restraint. There are manifold restraints to which every person is necessarily subject for the common good. On any other basis, organized society could not exist with safety to its members.” Justice Oliver Wendell Holmes referred to this case in his famous dissent in the contemporaneous case of Lochner v. New York, using vaccination to illustrate his point that the Constitution doesn’t create a purely libertarian framework of government. Today, courts would typically balance the constitutional interests by saying that the state has a compelling interest in public health, but that its actions compelling vaccination must be narrowly tailored to the public health need. The challengers to the current New York order are claiming that the vaccination order is arbitrary and capricious because it doesn’t provide enough detail about the current measles threat, instead simply stating the number of measles cases have been documented since September. (That number is now at 329 according to the Department of Health; others have also been infected in haredi communities in Rockland County, north of the city.)

See “Feldman,” A15

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Opinion

Looming power crisis

Easter morn

BusinessMirror

Msgr. Sabino A. Vengco Jr.

Val A. Villanueva

BUSINESSWISE

NE of the follies of the late president Cory Aquino was her decision, largely influenced by her trusted advisers, to do away with the late despot Ferdinand Marcos Sr.’s Ministry of Energy, then headed by technocrat Geronimo Velasco. The country’s energy map under Velasco detailed how the country would deal with future power demand. In it was a mix of traditional and renewable-energy sources that would make the country resilient to any vulnerabilities in the power sector. It was a well-crafted doable plan. Sadly, Velasco was very much identified with Marcos, and his genius was unfortunately ignored. His energy map was scrapped in lieu of ad hoc and patched-up solutions that plunged the country into rotational power outages, which crossed over well into the administration of former President Fidel V. Ramos. The recent series of power outages under President Duterte somehow reminds us of the literally dark days of the 1990s when a power generator was needed by a household to survive a brownout (as we Filipinos call a “blackout” or power outage). On Monday this week, the National Grid Corp. of the Philippines put out an advisory to warn consumers about interrupted power, raising red and yellow alerts in the Luzon grid for several hours. The Department of Energy (DOE) for its part said that the alerts were caused by insufficient operating reserves due to the forced outages of multiple power plants. These power plants with a total capacity of 1,367 megawatts were offline or on unscheduled shutdown: Limay Unit 2 of SMC Consolidated Power Corp. (150 MW), Sual Unit 1 of TeaM Energy Corp. (647 MW), Unit 2 of Southwest Luzon Power Generation Corp. (150 MW), and Pagbilao Unit 3 of Pagbilao Energy Corp. (420 MW). Talk about history repeating itself as Duterte’s energy planners exhibit the same shortsightedness that plagued energy officials of previous administrations. What is notable here is how they concern themselves more with power shortages, rather than spend time and effort in finding ways to generate power reserves. Such myopic stance is now being amplified by the Senate Committee on Energy Chairman Sherwin T. Gatchalian who has recently advised the government to reasses its decision to allow investments in liquefied natural gas. It appears that Shell Philippines Exploration B.V. has found a way to extend Malampaya’s gas life up to 2030. Hence, the senator is asking the government to extend SPEX service contract. I have no problem with that. But by following his logic, the country would not need investments in LNG since Malampaya’s reserves could still be squeezed for gas for 11 more years. How parochial is that? After 11 years, what? It seems that Gatchalian hasn’t gone beyond the insular view of the country’s power needs. According to Energy Secretary Alfonso Cusi, Australian-based Energy

Arillo . . .

continued from A14

The privatization of the water sector came later, and just like what happened to the energy sector, water rates continued to increase in the midst of brownouts and water shortage. Worse, the EO introduced the injurious Epira and the much-hated purchased power adjustment or PPA, which was used to charge more electricity rates against the consumers. The Presidential Commission on Good Government, while secretly investigating Enrile, also charged his

World Corp.’s 650-MW LNG plant in Pagbilao, Quezon, is a committed capacity and has already been included in the country’s Power Development Plan. How then can the country tell EWC that its project is no longer needed? Just consider the millions of dollars in investments that EWC has already made, and countless employment opportunities that the company has opened up for the Pagbilao townsfolk. Since 2011, EWC’s LNG Pagbilao project has endured frequent delays due to issues ranging from unstable LNG prices, financing, government red tape, and the government’s lack of support in allowing it to tap into existing transmission facilities. If only the government will help it secure linkages to existing distribution grid, EWC is ready to augment Team Energy Sual plant’s shortfall, and could easily provide 200 MW at short notice. Due to its strategic importance EWC’s LNG Pagbilao project should be certified by the DOE as an energy project of national significance. The plant, for one, is contiguous to the LNG hub terminal facility, and will supply clean electricity to be sold through the Wholesale Electricity Spot Market (WESM) to the Luzon grid. The Philippines has to find and develop energy sources as reserves, and not stick to and squeeze from whatever it can for what it currently has. The projected depletion of power, which could pull down economic growth, is alarming. Government records show that the country’s current dependable power reserve is very low—between 5 percent and 10 percent only—when compared with Singapore which has at least a 50-percent reserve. The DOE forecasts a need of roughly 43,765 MW of additional power capacity by 2040, up from the existing capacity of 13,877 MW, representing a compound annual growth rate of 6 percent. The Luzon grid, which accounts for 70 percent of the current capacity, is expected to triple from 9,726 MW to 29,852 MW by 2040, a growth rate of 5 percent per annum. Without new energy resources to compensate for what has been and would be lost due to the lack of power sources, the economic outlook is dire. We have to smolder more coal to generate power, a setback from the country’s avowed environmental conservation program. Just like in past administrations, the Philippines is not casting a critical eye on the expansion of gas-fired power generation, favoring instead “dirty” coal to amplify the country’s mounting exigence for cheap power sources. This is largely due to the government’s lack of comprehension on how LNG can contribute to the country’s energy synthesis. For comments and suggestions, e-mail me at mvala.v@gmail.com

close friend, the late Energy Secretary Geronimo Zamora Velasco, with having allegedly committed corruption, only to be declared innocent by the Supreme Court. Velasco soon died but left behind an unblemished reputation as well as his own personal files, copies of which were made available to this writer who exposed in his book A Country Imperiled (Tragic Lessons of a Distorted History) the unforgivable sins of the Aquino regime and those who later followed her in the energy sector. To reach the writer, e-mail cecilio.arillo@ gmail.com.

ALÁLAONG BAGÁ

ILIPINOS are said to be more attuned to Good Friday than to Easter. We are only beginning to awaken to the morning of Easter, to leave behind what appears to us so natural— misery and death. John’s account of Easter morn (20:1-9) invites us into the reality of the supernatural intended for us.

The empty tomb and the burial linens YES, an empty tomb does not prove the resurrection of Jesus Christ, nor is it the basis of the Christian faith in the resurrection. It is a component of the early tradition that leads us to the core of the story, the appearances of the risen Jesus to His followers. The earliest testimonies to the resurrection of Jesus did not include the empty tomb (cf. 1 Corinthians 15:5), but all the four evangelists would speak of it. For the primary question was: Where is He who was laid in the tomb? Mary of Magdala came to the tomb in the early morning of the first day of the (Jewish) week and saw that the huge stone at the entrance had been moved aside. She was immediately gripped with fear that some foul people have taken Jesus away.

In panic she ran to where Peter and the beloved disciple could be found and reported her discovery. The ambivalence of the empty tomb could not be denied. To His enemies, the body of Jesus was taken away by His followers (Matthew 28:13); to His friends, some people must have taken Him away. If he was taken away, as the chief priests had the story circulated, then it was not by His own friends, John here certified, because they themselves found the tomb already empty. But one thing is beyond doubt, the body that was no longer there was that of the one crucified, who died and was buried in that tomb. And the cloths, with which the body was wrapped according to Jewish custom, were there, neatly rolled up in one side while in a separate place was the cloth that had covered Jesus’ face. Seeing

Thursday-Sunday, April 18-21, 2019 A15

these items there in the empty tomb was thrice mentioned by the evangelist. The body of Jesus was not taken away by anybody. He left those burial linens behind.

The witnesses

IT is remarkable how tightly the Easter morn narration flowed. Starting off with the incomplete report of Mary Magdalene who rashly surmised that the open tomb meant a stolen body, we are treated next with the race to the tomb by Simon Peter and the beloved disciple. Whether because of youth or of being more driven, the disciple got to the tomb ahead of Peter. Pointedly He did not go in at once; He deferred to Peter to be the first one to enter and formally witness to the empty tomb and the burial cloths. Our apostolic witnesses obviously had to go through stages of understanding and faith. The beloved disciple Himself at first without entering the tomb bent down and established that it was empty and that the burial cloths were there. Next, together with Peter inside the tomb, He looked around and saw and believed. The first one to arrive at the tomb was the first one said to believe, just as He would be the first one to recognize the Risen Lord in His appearance to the disciples on the shore of the Sea of Tiberias (John 21:7). He definitely was driven by something more than just what could be

understood. Rather He came to understand things because He believed and He loved much. Tellingly the inspired writer noted that “they did not yet understand the Scripture that He had to rise from the dead.” They still had to encounter the glorious Christ to understand even what was written. And they began with the experience of the empty tomb and the burial cloths before coming face to face again with Jesus. Alálaong bagá, the resurrection of Jesus Christ is the living faith attested to by witnesses who experienced Him alive after He was executed and was buried. It is our experience of the mystery and the reality of the risen Jesus also in our lives, without which the entire faith in Him would be empty and meaningless (cf. 1 Corinthians 15:19). It is our conviction that the victory of Jesus was not simply the happy ending of His stay with us, but the definitive beginning of our new life in Him. Now, life and resurrection and glory belong to His entire Church-body and to all people who believe. Yes, also to the Filipino people enmeshed in selfinterests, corruption and poverty, and challenged to proceed, beyond violence and death and Good Fridays, into the light of Easter morn. Join me in meditating on the Word of God every Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

The dollar looks poised to wreak some havoc

By Robert Burgess | Bloomberg Opinion

HERE’S been a lot of talk lately about how the global currency market has become stuck in a tight range, with volatility collapsing and no clear trends emerging. Judging by the performance of the dollar, this is no time to be complacent. The Bloomberg Dollar Spot Index rallied on Tuesday despite a disappointing report from the Federal Reserve on March industrial production and capacity utilization. And that’s the point: the dollar has shown remarkable resilience in recent weeks, holding its value even as incoming data has fallen short of expectations by the greatest degree since mid-2017, as measured by Citigroup Inc.’s economic surprise indexes. That marks a break from the recent past, when the dollar tended to move in the same direction as the surprise index. The other thing to note is that the market is more bearish on the dollar than any time in the past year, based on the options market. Hedge funds and other large speculators are paying more to protect against a decline in the greenback than they are for calls versus the euro and its other major peers, according to Bloomberg News’s Todd White. What that means is any bit of good economic news is likely to spur a reversal of those bets, adding to the upward pressure on the dollar. A rising dollar isn’t necessarily a good thing for markets. The big sell-off in stocks in the fourth quarter was partly triggered by the US currency, which strengthened as the Fed doubled down on its hawkish rhetoric. Although equities have largely recovered, investors need to keep a close eye on the dollar. S&P Global Ratings figures that 30 percent of the revenue of S&P 500 companies comes from outside the US. Jodie Gunzberg, managing director and head of US equities at S&P Dow Jones Indices, calculated that the S&P 500 rises 3.7 times more from a falling dollar than a rising one. So, all else being equal, a strong dollar should be a drag on stocks.

The good and the bad for bonds

THE dollar has also received support from higher yields in the bond market, which has cut the odds on a rate cut by the Fed this year to about 40 percent from almost 80 percent just a few weeks ago.

Feldman . . .

continued from A14

They also say there’s no detailed plan for forced vaccination and that the vaccines could harm children and adults. In addition, the challengers say that the order violates New York’s law on religious exemptions and violates their equal rights.

Yields on the benchmark 10-year Treasury note rose as high as 2.59 percent on Tuesday, up from this year’s low of 2.34 percent just three weeks ago. Yields are back to where they were when the Fed made its surprising dovish policy shift on March 20. The jump in yields is generally tied to the notion that the economy isn’t as soft as first believed, and that a recession isn’t imminent, or at least not in the cards for this year. There’s also another development that could put upward pressure on yields: the declining share of purchases by investors outside the US. The Treasury Department said late Monday that foreign holdings of US government debt rose by $50.6 billion to a record $6.385 trillion in February. But looked at another way, foreigners own just 40.2 percent of the $15.9 trillion in marketable US debt outstanding, down from 43.1 percent at the end of 2016, 46.7 percent five years ago and 51.3 percent a decade ago. This means the US must rely more on domestic investors to fund a ballooning budget deficit and debt sales forecast to exceed $1 trillion this year alone. “The market can spend some time consolidating near current levels over the short-term, but the medium-term setup continues to point to a trend to higher yields into late-spring/ summer,” strategists at JPMorgan Chase & Co. wrote in a research note.

and with the benchmark less than 1 percent from its record high? The strategists at LPL Financial and Strategis Research Partners put out a joint report on Monday saying that current equity valuations take into account narrowing corporate profit margins and a sustained period of subpar economic growth. “We’ve heard calls for lower profit margins for several years now,” John Lynch, the chief investment strategist for LPL Financial, wrote in a research note on Tuesday. “Those calls will be right at some point, but the market seems to be quite confident that time has come, suggesting the potential for a positive surprise.” And that surprise could be met with a strong rally, judging by various measures of positioning in equities by investors. According to Credit Suisse’s prime brokerage arm, hedge funds’s gross exposure to US equities is the lowest since the middle of last year relative to global allocations. “There are huge pools of money sitting on the sidelines,” BlackRock Chief Executive Larry Fink said a conference call on Tuesday to discuss the firm’s results.

All that glitters isn’t gold

What exactly is priced in?

RISING yields are also no friend to equities, as we saw late last year. Even so, stocks managed to eke out a small gain on Tuesday as the strategists at Cantor Fitzgerald said current yields are “still low enough to lend support to risk assets.” That’s probably true, considering that 10-year yields above 3.20 percent in October and November were a major catalyst of the sell-off in stocks. So, with earnings growth generally flat to lower and the economy decelerating, what exactly is priced into stocks following the 16-percent rise in the S&P 500 this year,

COULD the gold market be sensing that better times are ahead and investors will have less need for haven assets as they transition into riskier assets such as stocks? Whatever the reason, it’s notable that gold prices have dropped to their lowest this year, falling to as low as $1,273 an ounce on Tuesday. In fact, precious metals are having a tough time this year generally, with the Bloomberg Precious Metals Subindex falling 2.13 percent. The gauge is down 6.37 percent since late February, while the broad Bloomberg Commodity Index is up 0.35 percent in the same period. And for those who study past trading patterns to help forecast what’s ahead, the outlook for gold isn’t so hot. Gold has been trading below its 100-day moving average since Monday, a typically bearish signal that could suggest the metal will fall further after stretching out of its recent trading range, according to Bloomberg News’s Rupert Rowling and Justina Vasquez. There’s also a tie in to the dollar and rising bond yields. Since many commodities such as gold are traded in dollars, a stronger greenback naturally makes owning those raw materials more expensive, tending to damp demand. Also, gold

Legally, these challenges don’t seem sufficient to block the vaccination. The public health risks create a compelling state interest, and there isn’t a narrower solution than forcing vaccination. Culturally, however, a community that sees its refusal to vaccinate as religious might be difficult to compel. Closing schools might be medically necessary, but it also could have the effect of galvanizing opposition.

Nearly all mainstream Orthodox authorities consider vaccination not only permissible under Jewish law but also even arguably mandatory as a health measure. By far the most effective solution to the outbreak would be for the leading rabbis of the Williamsburg community—especially the two Satmar grand rabbis—to require vaccination as a matter of Jewish law. Indeed, a

pays no interest, making it less attractive in an environment of rising yields.

China believers are proliferating

FOR proof that investors are starting to believe the evidence suggesting that China’s economy is strengthening, look no further than Goldman Sachs. Presumably in response to investor inquiries, the firm on Tuesday published a research report offering ways investors might profit from the rebound. The firm recommends going long on Australia’s dollar versus the New Zealand dollar, the Canadian dollar or the South African rand, according to Bloomberg News’s Susanne Barton. Those crosses provide optimal exposure to Chinese growth with low sensitivity to commodity prices, risk sentiment or the risk inherent in the yuan from the ongoing US-China trade talks. Recent reports on credit growth and consumption bolster the case that China’s economy is improving, and industrial production and retail sales data slated for release on Wednesday may add to the bullish case, Barton reports. Another believer is JPMorgan. The firm’s economists wrote in a report on Monday that they expect China’s economy to have picked up in the first quarter, expanding at a 6.4-percent sequential rate. That’s better than the 6.1 percent median estimate of economists surveyed by Bloomberg.

Tea leaves

WE know the Fed has downgraded its view of the economy, but what’s really happening “on the ground?” We may get some clues on Wednesday, when the central bank releases its Beige Book economic report, which is based on anecdotal information collected by the 12 regional Fed banks from the end of February through March. The report will help determine whether the factors weighing on growth at the end of the first quarter are temporary in nature, according to Bloomberg Economics. The March jobs report suggested the slowdown, which stretched from December through much of the first quarter, is starting to fade, Bloomberg Economics said in its weekahead preview. “Comments on business confidence and capital spending plans could shed light on whether the recent slowdown in investment spending was more noise than signal,” Bloomberg Economics said. The next Federal Open Market Committee meeting is just two weeks away, on May 1. mainstream newspaper in the community has already called for the refusers to stop believing in vaccination “myths.” The law of New York State is one thing. But the law of God is another, and is more likely to generate immediate obedience in the relevant community. In the meantime, ordering compulsory vaccination is a justifiable measure—provided it works.

2nd Front Page BusinessMirror

A16 Thursday-Sunday, April 18-21, 2019

DU30’s options: Ax MWSS execs or junk water deals?

By Bernadette D. Nicolas

@BNicolasBM

RESIDENT Duterte will decide whether to fire officials or terminate the water concessionaires’ contracts on April 22 due to the water crisis experienced in some parts of Metro Manila, Cabinet Secretary Karlo Alexei B. Nograles said on Wednesday. The President’s decision was supposed to be made on April 15 but was moved to a later date. Asked what prompted to move the deadline, Nograles said in a forum: “He probably needs time to talk to some other people or revisit some other documents. You have to understand, [the President has many sources of information] and all of that has to be validated and all of that has to be vetted. All of that has to pass through some process of validation.” President Duterte on Tuesday also said he will not hesitate to replace officials of Metropolitan Waterworks and Sewerage System (MWSS) with brighter and smarter ones as he repeated his exasperation

over the agency’s lack of preparation for El Niño. “This week I will be firing.… Alam mo ’yang MWSS. Alam mo every— seasonal ’yan eh. It comes with regularity ’yang El Niño na ’yan. P***** i**, ilang taon kayo nandiyan and you do not prepare for it? And when it comes, walang tubig ’yung mga tao [This week I will be firing.... You know that MWSS. You knew that every — it’s seasonal. It comes with regularity that El Niño. S** ** * b****, how many years have you already been there and you do not prepare for it? And when it comes, people already had no water],” Duterte said in a speech during the Partido Demokratiko Pilipino-Lakas ng Bayan [PDP-Laban] campaign

“He probably needs time to talk to some other people or revisit some other documents. You have to understand, [the President has many sources of information] and all of that has to be validated and all of that has to be vetted. All of that has to pass through some process of validation.”—Nograles

rally in Tuguegarao, Cagayan late on Tuesday night. He also said he could use other Filipino engineers who are brighter and smarter than these officials. “There are millions of Filipinos waiting outside, more brighter than you, more smart. Kaya lang hindi nakilala kasi hindi mga politiko. I will not hesitate to replace you all. [There are millions of Filipinos waiting outside, more brighter than you, more smart. However, they are not that well-known because they are not politicians. I will not hesitate to replace you all],” he added.

Concessionaires blamed, too

THE President has also since said that the water crisis happened because those responsible for water management, including water con-

SBMA CALLS FOR S.E.A. GAMES VOLUNTEERS By Henry Empeño

cessionaires, wanted a price increase. Prior to this, Manila Water Co. Inc. announced on Tuesday that it had accepted the resignation of Geodino V. Carpio as its chief operating officer at the time the customers of the water concessionaire were experiencing the water crisis. Malacañang has neither confirmed nor denied if the resignation was in relation to the President’s supposed decision on whether he would fire officials responsible for the water crisis. Last March, an outraged Duterte scolded MWSS, Maynilad and Manila Water officials for simply not doing their job and not being able to anticipate the shortage. He also ordered officials to submit a report on water shortage before April 10. The water crisis was blamed on a combination of population growth and the corresponding uptick in the number of water consumers, the unusually huge demand brought about by a “mild” El Niño and limited water allocation for the East Zone, which were serviced by Manila Water. Critics, however, said Manila Water itself was to blame for failing to prepare for the projected increase in customers.

issuance of search war rants, and be discerning enough on the intention of some politicians in seeking such relief. In OCA Circular No. 64-2019,

Court Administrator Jose Midas Marquez disclosed that reports reaching his office indicate courts are being used by unscrupulous politicians to obtain search warrants

to cause political harm against their rivals in the heat of the election campaign period. Marquez advised court judges to remain impartial and nonpartisan and be circumspect on the grant of applications for search warrants. “Courts must ensure their jurisdiction before entertaining applications for search warrants and conduct the proper proceedings before the same are issued,” the circular signed by Marquez read. “Nothing can justify the issuance of a search warrant unless all legal requisites are fulfilled. At the very least, the disregard by a judge of the requirements for the issuance of a search of warrant constitutes grave abuse of discretion,” he added. Marquez added the Court has ruled in Rodriguez v. Villamiel that while the power to search and seize are necessary to the public welfare, it should be done without violating the constitutional rights of an individual. “Thus, in issuing a search warrant, the judge must strictly comply with the requirements of the Constitution and the statutory provisions. Joel R. San Juan

Electric co-ops. . . Continued from A1

II), Batangas II Electric Cooperative Inc. (Batelec II), Zamboanga City Electric Cooperative Inc. (Zamcelco) and Peninsula Electric Cooperative Inc. (Penelco). On the other hand, the ECs’ overall system loss declined by 0.27 percent from 11.11 percent in 2017 to 10.84 percent in 2018. This translated to savings of 2,611 GWh or P25.8 billion. “While reductions were registered for Luzon at 0.50 percent and the Visayas at 0.22 percent, Mindanao registered an increase of 0.14 percent,” Padua said. Single-digit system loss was registered in Cordillera Administrative Region, Regions 3, 6, 7, 8, 10, 12 and CARAGA. Lenie Lectura

Correspondent

U BIC BAY FR EEP OR T— O nc e more tapping the wellspring of volunteerism that helped make Subic a model for military base conversion, Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Wilma T. Eisma called for the participation of volunteers from the Subic Bay area in the 30th Southeast Asian Games that the Philippines will host late this year. “Make a difference and be a hero,” Eisma said in a call broadcast over social media on Wednesday. With the monument honoring Subic’s original volunteers in the background, the SBMA chief urged residents to serve Subic and country: “Come show your malasakit for Subic once again. Be a SE A Games volunteer and give yourself the chance to serve the country and be part of history,” she added. Eisma said that those interested in joining the SEA Games volunteer program in Subic may apply online at www.mysubicbay.com.ph. Applicants must be at least 18 years old. Recruitment of volunteers will be conducted from April to July, with the online registration starting on May 15. Training of volunteers will be held from August to October. Eisma made the call for

In the heat of election campaign, SC reminds judges on ‘proper’ issuance of search warrants HE Supreme Court’s Office of the Court Administrator (OCA) reminded court judges on Wednesday to strictly adhere to requisites prior to the

www.businessmirror.com.ph

volunteers after the Philippine Southeast Asian Games Organizing Committee (Phisgoc) announced the need for some 12,000 volunteers for the Southeast Asian sports spectacle that will be held in the country from November 30 to December 10. Phisgoc Chief Operating Officer Ramon Suzara said that volunteers will be mobilized for the games in Metro Manila, Subic, Clark Freeport and other venues to assist in hosting the 56 sports and 529 events slated in this year’s sports meet. Eisma said she has called for volu nteers to show their malasakit for Subic in so many occasions in the past. “Today, I am calling on you again to join the SBMA team and help make the 30th SEA Games successful,” she said. Eisma said that out of the 56 sports slated in the 2019 SEA Games, 16 will be played in Subic. These are duathlon, triathlon, pencak silat, sepak takraw, chess, table tennis, muay thai, karatedo, vovinam, obstacle sports, modern-date pentathlon, beach volleyball, beach handba l l, sailing, wind surfing and traditional boat race. Ph i sgoc s a id t he n ational government will allot around P100 million to P150 million for the volunteer program in order to provide the volunteers with uniforms, transportation, allowance and meals for an eight-hour shift.

Some Libyan employers move OFWs to safe sites

OME employers in Libya have started evacuating their overseas Filipino workers (OFWs) due to security concerns, the Department of Labor and Employment (DOLE) said. In his report to Labor and Employment Secretary Silvestre H. Bello III, Labor Attache Adam A. Musa said the OFWs were located in conflict-stricken areas around Tripoli, Libya. “Polo [Philippine Overseas Labor Office[ received information that some companies are evacuating their OFWs to safer areas [in Libya] and provided them with food and accommodation,” Musa said. As of Monday, none of the companies had sought aid from the Polo to secure their OFWs. Musa also noted that 23 Filipino scholars at the Islamic Call College were asked to relocate due to “imminent attacks” of the Libyan National Army (LNA) on

their campus. Despite the latest movement of Filipinos in Libya, Bello said few OFWs are availing themselves of the government’s ongoing voluntary repatriation. “Based on information reaching me, only four [OFWs] have intimated their desire to come back. So the situation there is still not that serious,” Bello said. Bello, however, said their preparation for a possible forced repatriation will still push through in case the civil war in Libya continues to worsen. He said the six-man augmentation team which he deployed will make the necessary preparation for a possible mass repatriation upon their arrival in Libya. The security situation in Tripoli and its surrounding areas continue to deteriorate due to the prevailing conflict between UN-recognized government of Libya and the LNA. Samuel P. Medenilla

‘Galunggong’ imports halt eyed on big supply Continued from A1

volume. Philippine round scad output in 2018 declined by 8.15 percent to 168,150 MT from the 183,080 MT recorded volume in 2017, the Philippine Statistics Authority (PSA) said. “Continuous decline in the production of round scad was observed for the past three years. From a 13.55-percent drop in 2017, it slowed down by 8.15 percent in 2018,” PSA added.

The PSA attributed the decline to the reduced number of fishing days and lower volume of unloading from municipal fishermen due to unfavorable weather conditions. Furthermore, it added that high fuel prices, encroachment of commercial fishing vessels and lesser appearance of the species in the fishing grounds also affected their catch.

Editor: Efleda P. Campos

Companies BusinessMirror

Thursday-Sunday, April 18-21, 2019

SEC wants companies to practice sustainability

By VG Cabuag

@villygc

HE Securities and Exchange Commission (SEC) has asked the corporate sector to integrate sustainability in their business practices, as it formally launched the sustainability reporting guidelines for publicly listed companies (PLCs). The SEC presented the business case for sustainability reporting, in particular, during the conference it held together with the Philippine Stock Exchange and in partnership with the Global Reporting Initiative and Australia’s Department of Foreign Affairs and Trade last week.

DOE names 4 more ‘energy projects of natl significance’

“With the issuance of the Sustainability Reporting Guidelines, your SEC has high hopes that PLCs would not only be made aware of sustainability, but would make it a part of their priorities,” SEC Chairman Emilio B. Aquino said. “We hope we would all be remind-

HE Department of Energy (DOE) has issued certificates to four “energy projects of national significance,” listing them among projects that will provide the country sustain-

Cosco net income rises 12% to ₧8.8B in 2018

ed that the responsibility of creating a sustainable environment is an obligation so basic and imperative that it precedes any kind of law. It is a call for the preservation of humankind, of our generation and of the generations to come,” he said. In his keynote address, Jose Teodoro K. Limcaoco, chief sustainability officer at Ayala Corp., reiterated the importance of preserving the environment and creating a just society for businesses to thrive, as he shared the conglomerate’s journey in integrating sustainability into its corporate strategies. The guidelines, in line with Principle 10 of the Code of Corporate Governance for Publicly Listed Companies, sets the information that listed firms will have to disclose in relation to their nonfinancial performance across the economic,

environmental and social aspects of their organizations. The SEC will require listed firms to submit their sustainability reports, together with their annual reports, on a “comply or explain” basis for the first three years. The first sustainability report must be attached to the 2019 annual report, which must be submitted in 2020. In the Philippines, less than 22 percent of the listed firms have published a report on sustainability impacts and performances, based on the 2017 Integrated Annual Corporate Governance Reports submitted to the SEC. “Sustainability should be of utmost concern since economic, environmental and social impact can affect not only companies, but more important, the country and ultimately even the world,” Aquino said.

OSCO Capital Inc., the retail holding firm of businessman Lucio L. Co, on Wednesday said its income grew 12 percent last year to P8.8 billion from the previous year’s P7.83 billion, driven by the continued economic growth and the higher consumer spending resulting from the tax-reform law. The group’s grocery retailing businesses, through Puregold Price Club Inc. and S&R Membership Shopping Club, contributed 60 percent of total profits, followed by its commercial real-estate segment with 19 percent and liquor distribution with 13 percent. The group’s specialty retailing segment, composed of Liquigaz Philippines Corp. and Office Warehouse Inc., accounted for 8 percent of net profit. Puregold and S&R grew their consolidated revenues by 13 percent to P140.9 billion, while net income rose 11 percent to P6.52 billion. The group opened 30 new Pure-

able sources of power. SN A boit i z Power (SNA P) Group’s 20-megawatt Ollilicon hydropower project and the 250MW Alimit pumped storage were issued EPNS certificates on April

10. Both projects are located in Ifugao province. SNAP, developer and operator of 100-percent renewable-energy facilities, is a joint venture of SN Power of Norway and AboitizPow-

er. It owns and operates the 380MW Magat hydropower on the border of Isabela and Ifugao; the 8.5-MW Maris hydro in Isabela; the 105-MW Ambuklao hydro in Benguet; and the 140-MW Binga

gold stores, two new S&R Warehouse Clubs and seven new S&R quick- service restaurants last year. Co’s liquor distribution business posted a 31- percent growth in revenues to P8.7 billion, on the back of a 32-percent increase in volume of cases sold in 2018. “The growth is primarily driven by the increase in sales of Alfonso Light Brandy and Alfonso Brandy,” the company said. Liquigaz generated a 30-percent increase in revenues to P17 billion, mainly driven by an increase in sales volume and the recovery in global LPG prices during the period. Its net income increased by 33 percent to P626 million. Meanwhile, Office Warehouse’s revenues grew by 15 percent to P2 billion. The company currently has 88 stores in operation. The group’s commercial realestate segment posted a 10-percent increase in total revenues to P2.4 billion and a 10-percent increase in net income to P1 billion, the company said. VG Cabuag

hydro also in Benguet. The 600-MW Rizal wind-power project of Rizal Wind Energy Corp. was issued an EPNS certificate on March 13. The project is currently in predevelopment stage. Lenie Lectura

Companies BusinessMirror

Thursday-Sunday, April 18-21, 2019

PSE STOCK QUOTATIONS

April 17, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FERRONOUX HLDG MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE

58.6 131.7 82.95 26.5 11.6 77.65 13.56 21.5 50.8 58.5 26 178.8 61.55 1.29 2.2 18.92 4.5 0.45 820 0.96 181.5 1810

58.65 132 83 26.8 11.62 78 13.66 21.95 50.95 58.65 26.3 180 61.85 1.37 2.22 19 4.63 0.47 822 0.97 183.5 1840

58.6 130 81.8 26.85 11.56 77.05 13.56 21.95 50.75 58.5 26.05 176.2 60.8 1.38 2.22 18.86 4.64 0.465 822 0.94 181.6 1810

58.65 133.1 83 26.85 11.72 78 13.56 21.95 51.9 58.5 26.3 180 61.85 1.38 2.22 19.02 4.68 0.475 822 0.97 183.5 1810

58.6 130 81.5 26.5 11.54 77 13.56 21.95 50.75 58.5 26.05 176.2 60.7 1.28 2.2 18.86 4.5 0.465 820 0.93 181.5 1810

58.65 132 83 26.5 11.6 78 13.56 21.95 50.95 58.5 26.3 180 61.5 1.28 2.22 19 4.52 0.47 820 0.97 183.5 1810

10270 1400290 1154150 324100 132700 899930 100 100 491180 830 7000 104080 810 26000 117000 50900 68000 390000 240 392000 1370 50

601872 184655750 95218420.5 8616400 1541498 69733993 1356 2195 25159762.5 48555 182805 18652814 49410 33500 259700 964810 309800 182450 196840 377820 248985 90500

591910 -7376376 19757437 -7683935 -117886 -34923613.5 -8559601 -156550 7359186 -11611 -13520 -0 -

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

1.4 35.9 0.242 22.2 80.35 377 23.7 6.54 4.4 1.53 11.78 45.6 7.05 13 16.3 14.88 15.76 5.5 11.24 7.36 111.1 0.94 29.25 304 10.3 14.78 0.191 1.25 12.78 1.65 4.58 2.14 151.9 1.45 2.51 1.88 5.25 15.76 9.49 11.34 21.3 9.04 1.01 1.16 1.96 3.52 5.19 46 2.89 12.66 1.82 6.05 1.33 28.8

ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL ANSCOR ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV FORUM PACIFIC GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA PRIME ORION PRIME MEDIA SYNERGY GRID SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER WELLEX INDUS ZEUS HLDG

0.56 18.8 900 54.85 14.96 6.45 0.77 1.39 1.41 7.6 11.84 14.98 0.234 860.5 6.8 61.3 0.495 5.18 15.44 0.56 4.47 0.038 2.92 1.11 440.2 927.5 175.3 0.96 265 0.237 0.33

1.42 35.95 0.247 22.3 80.95 379 23.95 6.57 4.55 1.54 12 45.9 7.1 17 16.4 15.9 16.1 6 11.3 7.38 113.8 0.95 29.85 304.2 10.68 14.8 0.2 1.26 12.8 1.7 4.79 2.18 152 1.46 2.6 1.89 5.5 15.9 9.53 11.36 21.4 9.33 1.04 1.19 1.97 3.71 5.5 46.5 2.9 12.78 1.83 6.35 1.35 28.95

1.39 36 0.247 22.15 80.1 378 23.5 6.47 4.55 1.51 11.8 46.85 7.01 17 16.48 15.9 15.76 5.8 11.6 7.32 112 1 29.5 306 10.26 15.26 0.195 1.25 12.9 1.65 4.8 2.18 152.5 1.5 2.55 1.86 5.25 15.92 9.43 11.18 21.05 9.05 1 1.17 1.94 3.75 5.19 46.3 2.89 12.58 1.81 6.3 1.34 29

1.42 36.55 0.248 22.5 81.05 379 23.95 6.59 4.55 1.55 12.06 46.85 7.14 17 16.48 16.2 16.1 5.9 11.64 7.38 113.8 1.01 29.85 307.8 10.68 15.26 0.2 1.26 12.9 1.7 4.8 2.18 153 1.51 2.6 1.91 5.25 15.92 9.54 11.4 21.4 9.05 1.06 1.19 1.96 3.78 5.2 46.3 2.9 12.78 1.82 6.35 1.35 29

1.39 35.85 0.242 22.15 80 375.2 23.5 6.45 4.5 1.48 11.74 45.45 6.94 17 16.12 15.9 15.76 5.5 11.22 7.32 110.8 0.94 29.5 303 10.26 14.78 0.191 1.23 12.7 1.65 4.79 2.18 151.6 1.44 2.55 1.85 5.25 15.86 9.43 11.18 21.05 9.04 0.98 1.15 1.94 3.51 5.19 45.25 2.82 12.44 1.79 6 1.31 28.8

1.42 35.95 0.248 22.3 80.35 379 23.95 6.54 4.55 1.54 12 45.6 7.1 17 16.4 15.9 16.1 5.5 11.24 7.38 113.8 0.95 29.85 304 10.68 14.78 0.2 1.25 12.8 1.7 4.79 2.18 152 1.46 2.6 1.88 5.25 15.9 9.53 11.34 21.3 9.04 1.04 1.18 1.96 3.73 5.19 46 2.9 12.66 1.82 6.35 1.35 28.8

24000 661000 960000 594300 68400 132640 259200 1748400 24000 22635000 110100 119000 77900 100 330500 18400 517300 36600 930400 6300 106840 7369000 3200 700640 1600 496100 370000 1025000 125000 2000 112000 17000 620650 7769000 28000 8551000 100 5100 444200 802400 5382000 7300 838000 440000 51000 120000 122100 211600 5596000 517200 123000 27700 287000 38500

33550 23,779,005( 10,910,500.0003) 236200 123810 13257790 5504130 5480154 -958475.9997 50093486 -27540984 6162450 1433300 11433833 -863043 108470 34490450 2363530 1311904 -66312 5442250 -488010 547549 28240 1700 -1700 5443622 107478 294118 8167456 7937506 205400 10573714 -5954788 46372 12034801 4032312 7045390 1780 95120 213308476 -28132198 16458 7365702 3383966 73160 1279420 445780 1599352 -1472116 3350 537590 -470410 37060 94469447 -5695203 11377130 -229150 72500 16120220 -6581830 525 81052 36570 4213743 1915815 9102712 -2239658 114175980 72523980 66001 3615.9999 868750 513670 -4680 99760 9800 437440 -78290 634419 -633900 9780850 156400 16039790 -1968640 6506976 -365920 223250 173514 384830 1113535 -213315

HOLDING & FRIMS 0.57 19.1 906 55 14.98 6.51 0.79 1.4 1.43 7.61 12 15 0.24 862 6.86 61.35 0.51 5.19 15.52 0.58 4.48 0.04 2.96 1.14 470 930 175.9 0.97 269 0.243 0.335

0.56 18.54 902.5 56.7 14.8 6.5 0.78 1.39 1.41 7.62 11.94 14.72 0.242 859 6.86 62.95 0.52 5.25 15.5 0.58 4.47 0.038 2.95 1.11 499 940 174.9 0.96 263 0.236 0.33

0.57 19.84 915 56.7 15.12 6.5 0.79 1.42 1.43 7.62 12 15 0.242 869.5 6.99 63.4 0.52 5.34 15.6 0.58 4.5 0.039 2.96 1.11 499 943 175.9 0.98 269 0.243 0.34

0.55 18.5 900 54.5 14.68 6.5 0.78 1.39 1.41 7.49 11.8 14.58 0.24 859 6.8 61.35 0.495 5.19 15.22 0.58 4.43 0.038 2.9 1.11 435 925 173.9 0.94 262 0.236 0.33

0.57 19 900 55 14.98 6.5 0.79 1.4 1.43 7.6 12 14.98 0.24 862 6.8 61.35 0.51 5.19 15.44 0.58 4.48 0.039 2.92 1.11 440.2 930 175.9 0.97 269 0.243 0.33

3132000 65300 230520 560080 21679400 60000 105000 1410000 161000 535000 3280800 660000 20000 169260 44200 934700 632000 670600 301700 28000 33651000 5400000 495000 15000 750 91000 180320 1022000 720 460000 12640000

1761590 1217078 208425710 31099097 324031372 390000 82680 1990900 227160 4055976 39168646 9856252 4820 145874840 303852 57743895 316145 3530469 4650080 16240 150285250 209300 1445060 16650 334378 84783605 31651898 969660 191940 110410 4220700

-90720 283082 -64381640 -5826429.5 -122741992 316550 124080 1616729 -16720424 -3675422 -57651595 145680 -25831760.5 -77787 -2624406 -46049870 2940 95700 -45326330 -10370858 1920 -10752 -18960 -

PROPERTY

ARTHALAND CORP 0.78 0.79 0.84 0.84 0.76 0.78 1977000 1552800 ANCHOR LAND 11.1 11.44 11.2 11.2 11.1 11.1 10100 112670 AYALA LAND 47 47.05 46.95 47.2 46.8 47 19386600 910792380 69471075 ARANETA PROP 1.87 1.95 1.99 1.99 1.87 1.95 52000 98540 BELLE CORP 2.46 2.49 2.42 2.5 2.4 2.49 824000 2022440 892690 A BROWN 0.76 0.78 0.78 0.78 0.75 0.78 452000 345150 CITYLAND DEVT 0.88 0.92 0.91 0.93 0.91 0.92 59000 54170 CROWN EQUITIES 0.24 0.244 0.241 0.244 0.24 0.24 3080000 739450 -297600 CEBU HLDG 6.38 6.5 6.32 6.5 6.32 6.5 22300 141615 CEB LANDMASTERS 4.25 4.26 4.25 4.3 4.23 4.26 118000 503000 -17030 CENTURY PROP 0.5 0.51 0.5 0.51 0.495 0.51 3759000 1878940 -1000 CYBER BAY 0.385 0.41 0.385 0.385 0.385 0.385 70000 26950 DOUBLEDRAGON 24.85 25 24.7 25.5 24.3 24.85 1930600 48114045 -5547490 DM WENCESLAO 11.04 11.06 11.08 11.1 11 11.06 293300 3244670 1085002 EMPIRE EAST 0.5 0.51 0.51 0.51 0.495 0.51 2338000 1168815 100000 FILINVEST LAND 1.51 1.52 1.53 1.53 1.51 1.51 3854000 5843240 -886480 GLOBAL ESTATE 1.35 1.36 1.36 1.36 1.33 1.35 478000 641340 -100490 8990 HLDG 13.16 13.2 13.16 13.28 13.16 13.2 1899900 25031680 -22440 PHIL INFRADEV 1.92 1.93 1.93 1.93 1.86 1.92 3814000 7224020 KEPPEL PROP 3.83 4.86 4.86 4.86 4.86 4.86 20000 97200 CITY AND LAND 0.83 0.85 0.81 0.85 0.81 0.85 6000 5060 MEGAWORLD 5.68 5.69 5.78 5.8 5.65 5.69 15329700 88100073 -14467487 MRC ALLIED 0.35 0.355 0.33 0.35 0.33 0.35 25150000 8534550 -2804100 PHIL ESTATES 0.5 0.51 0.51 0.51 0.49 0.51 60000 29740 PRIMEX CORP 2.45 2.47 2.44 2.47 2.4 2.45 1041000 2528200 -246000 ROBINSONS LAND 24 24.3 23.35 24.3 23.1 24.3 3088700 72436575 21876580 PHIL REALTY 0.415 0.435 0.42 0.42 0.415 0.415 210000 87850 ROCKWELL 1.99 2 2 2 1.99 2 183000 365330 -176000 SHANG PROP 3.01 3.05 3.05 3.06 2.99 3.06 147000 447050 STA LUCIA LAND 1.63 1.66 1.67 1.67 1.65 1.66 126000 209050 -29880 SM PRIME HLDG 39.55 39.6 39.9 39.9 39.55 39.6 2935300 116334405 -12308125 STARMALLS 6.96 6.97 6.95 6.98 6.9 6.96 50700 351902 VISTA LAND 7.23 7.24 7.24 7.24 7.22 7.23 11342900 82017650 -15785299 SERVICES ABS CBN 19.46 19.48 19.5 19.6 19.36 19.48 56600 1101112 GMA NETWORK 5.28 5.29 5.27 5.3 5.25 5.29 149700 790976 MANILA BULLETIN 0.59 0.6 0.58 0.6 0.58 0.6 507000 299380 GLOBE TELECOM 1863 1865 1866 1905 1865 1865 15535 29118670 -8487420 PLDT 1221 1224 1195 1227 1192 1224 203475 245951440 76740650 APOLLO GLOBAL 0.04 0.041 0.039 0.04 0.039 0.04 11200000 446800 ISLAND INFO 0.126 0.128 0.126 0.128 0.125 0.128 2570000 322020 -14080 ISM COMM 4.95 4.97 4.88 5 4.88 4.95 978000 4857700 -111170 JACKSTONES 2.98 3.05 2.99 2.99 2.98 2.98 5000 14920 NOW CORP 2.44 2.45 2.36 2.75 2.36 2.44 8305000 21137280 -360290 TRANSPACIFIC BR 0.38 0.385 0.375 0.385 0.375 0.38 3540000 1345300 49400 PHILWEB 2.87 2.89 2.87 2.89 2.8 2.87 429000 1224500 2GO GROUP 12.3 12.8 12.3 12.82 12.3 12.3 22500 284198 CHELSEA 5.16 5.18 5.14 5.2 5.14 5.16 282500 1456500 CEBU AIR 82.7 83 81.7 83 81.6 83 183620 15005493 1765181.4999 INTL CONTAINER 128.8 129 125.8 130 125.8 129 3741570 480387067 57144701 LORENZO SHIPPNG 0.82 0.84 0.83 0.86 0.8 0.84 795000 652250 MACROASIA 21.65 21.7 21.55 21.8 21.5 21.7 612800 13307260 168870 METROALLIANCE A 1.68 1.78 1.68 1.78 1.68 1.78 4000 6820 PAL HLDG 10 10.06 10.02 10.1 9.8 10.06 21100 209989 HARBOR STAR 2.84 2.85 2.83 2.9 2.82 2.85 621000 1768320 -34320 BOULEVARD HLDG 0.073 0.074 0.073 0.075 0.073 0.073 26200000 1925290 WATERFRONT 0.71 0.72 0.72 0.72 0.7 0.72 1051000 742990 IPEOPLE 11.12 11.76 11.78 11.78 11.74 11.76 600 7052 STI HLDG 0.67 0.68 0.68 0.69 0.67 0.67 428000 291240 -46570 BERJAYA 2.39 2.41 2.25 2.4 2.25 2.4 451000 1055860 321760 BLOOMBERRY 12.42 12.6 12.36 12.62 12.06 12.6 18421900 223650566 143065696 PACIFIC ONLINE 4.25 4.37 4.43 4.43 4.24 4.38 87000 370170 8490 LEISURE AND RES 3.64 3.7 3.7 3.7 3.6 3.69 961000 3495920 362720 PH RESORTS GRP 4.5 4.56 4.6 4.6 4.5 4.58 6000 27280 PREMIUM LEISURE 0.8 0.81 0.8 0.82 0.8 0.81 2242000 1801210 -51030 TRAVELLERS 5.63 5.68 5.6 5.68 5.6 5.68 132700 747067 1277.0001 METRO RETAIL 3.41 3.42 3.48 3.48 3.4 3.41 2160000 7374770 -497180 PUREGOLD 44.35 44.4 44 44.55 44 44.4 1825500 80919500 -15372270 ROBINSONS RTL 78.4 78.9 79 79 78 78.9 120620 9512422.5 -122704 PHIL SEVEN CORP 118.8 119.8 118.8 119.8 118.8 119.8 250 29748 28560 SSI GROUP 2.67 2.68 2.64 2.7 2.63 2.68 6722000 17988350 -4377650 WILCON DEPOT 16.12 16.14 16.22 16.26 16.12 16.14 1560500 25294960 5202110 APC GROUP 0.42 0.43 0.42 0.43 0.42 0.43 120000 51200 EASYCALL 10.2 10.4 10.54 10.54 10.14 10.4 28900 299046 GOLDEN BRIA 393.8 400 399.8 400 393.6 400 1670 667008 IPM HLDG 7.04 7.06 7.05 7.06 7.05 7.05 16000 112830 PRMIERE HORIZON 0.99 1 0.98 1.02 0.97 1 23256000 23280740 -2436410 SBS PHIL CORP 8.95 9 9.02 9.02 8.95 9 20200 181951 -53218 MINING & OIL ATOK 11 11.98 12.02 12.02 11 11 6100 68546 APEX MINING 1.29 1.31 1.31 1.33 1.29 1.29 644000 836970 -340620 ABRA MINING 0.0019 0.002 0.0019 0.002 0.0019 0.0019 268000000 514200 BENGUET A 1.28 1.39 1.28 1.42 1.27 1.42 18000 23140 BENGUET B 1.2 1.55 1.59 1.59 1.59 1.59 1000 1590 COAL ASIA HLDG 0.29 0.3 0.29 0.295 0.29 0.29 200000 58150 CENTURY PEAK 2.7 2.72 2.72 2.72 2.7 2.7 783000 2117140 8160 DIZON MINES 8.1 8.19 8.19 8.19 7.98 8.18 1400 11409 FERRONICKEL 1.52 1.53 1.52 1.53 1.52 1.53 448000 681000 632320 GEOGRACE 0.25 0.255 0.255 0.255 0.249 0.255 430000 107710 LEPANTO A 0.115 0.118 0.118 0.118 0.115 0.118 1410000 163900 MANILA MINING A 0.0082 0.0086 0.0082 0.0082 0.0082 0.0082 1000000 8200 MARCVENTURES 1.08 1.1 1.07 1.09 1.07 1.08 39000 42060 NIHAO 1.01 1.05 1.03 1.05 1.03 1.04 18000 18660 5150 NICKEL ASIA 2.44 2.47 2.45 2.47 2.43 2.44 283000 691250 -124590 OMICO CORP 0.57 0.61 0.58 0.58 0.58 0.58 7000 4060 ORNTL PENINSULA 0.9 0.92 0.89 0.92 0.89 0.91 472000 423860 PX MINING 3.11 3.12 3.08 3.14 3.08 3.12 332000 1032260 -3130 SEMIRARA MINING 24.3 24.35 24.5 24.5 24.1 24.3 1432800 34777795 22848145 ORNTL PETROL A 0.012 0.013 0.012 0.012 0.012 0.012 9300000 111600 PHILODRILL 0.011 0.012 0.011 0.011 0.011 0.011 10000000 110000 PHINMA PETRO 3.1 3.15 3.1 3.1 3.1 3.1 12000 37200 PXP ENERGY 7 7.09 7.25 7.25 6.9 7 1484000 10438650 -248839 PREFFERED HOUSE PREF A 94.95 95 94.95 94.95 94.95 94.95 310 29434.5 DD PREF 96.1 98.5 98 98 98 98 3340 327320 GLO PREF P 480 494.8 494 494 494 494 500 247000 GTCAP PREF B 950 959 950 950 950 950 1060 1007000 LR PREF 1 1.01 1 1 0.98 1 191000 190970 MWIDE PREF 100.1 103 102.5 103 102.5 103 5780 594468 PNX PREF 3A 100.2 100.9 100.9 100.9 100.9 100.9 9900 998910 SMC PREF 2B 74.8 75.7 75 75 74.75 74.75 6750 504858 43442 SMC PREF 2C 75.8 76 76 76 76 76 15930 1210680 SMC PREF 2D 72 73 73 73 73 73 390 28470 SMC PREF 2F 74.1 74.75 74.65 74.75 74.5 74.75 33890 2529921 SMC PREF 2G 73.55 74.45 73.75 73.75 73.55 73.55 1200 88270 3687.5 SMC PREF 2H 71.8 73.6 72.3 72.3 71.5 71.5 13400 963474 SMC PREF 2I 61.2 - 61.2 61.2 61.2 61.2 14100 862920 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

18.74 5.12

19.7 5.29

18.8 5.13

18.8 5.3

18.7 5.12

18.7 5.3

12000 12000

225400 62700

WARRANTS LR WARRANT

1.89

SMALL & MEDIUM ENTERPRISES ITALPINAS 4.95 XURPAS 1.21

1.92

1.88

1.93

1.88

1.92

69000

130490

4.96 1.22

4.98 1.19

5 1.24

4.9 1.19

4.96 1.21

328000 3500000

1627840 4247290

49800 -11070

EXHANGE TRADE FUNDS FIRST METRO ETF

117.6

-225400 -

117.8

117.7

117.8

117.5

117.6

11290

1328498

267179

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NPC warns firms vs data breach attacks during Lent

By Elijah Felice E. Rosales

@alyasjah

HE National Privacy Commission (NPC) on Wednesday reminded firms to secure all data under their possession during Lent, as digital and physical attacks are more likely to take place during long breaks. Privacy Commissioner Raymund E. Liboro said personal information controllers, personal information processors and data-protection officers should ensure data under their

keeping are safeguarded from potential cyber-security attacks this Holy Week. He argued the likelihood of data breaches and attacks increase during long holidays.

“Digital and physical break-ins are more likely to occur during long breaks when there is minimal staffing in offices,” Liboro said in a statement. He said the use of strong passwords is essential in protecting personal information from malicious intentions. He recommended those in charge of data protection to encrypt files and databases on servers, computers and other devices in their organizations and, if necessary, change passwords. The NPC advised firms to place non-mission critical systems offline—especially those that contain or have access to personal data—and their activities recorded

and logs secured. The agency said files, digital and nondigital alike, systems and databases must be backed up. If possible, they should not be brought outside the office, such as in portable devices. Before leaving the office for the break, employees should ensure their respective work stations are shut down and electrical connections are cut off, the NPC said. The privacy body also prodded firms to secure office premises properly and keep valuables safe to prevent physical security breaches. Physical documents containing personal information must be kept in locked file cabinets, it added.

Mondelez taps EDC to power manufacturing plant in Parañaque

ONDELEZ Philippines, the local unit of global snack giant Mondelēz International Inc., has tapped Energy Development Corp. (EDC) to supply power in its company’s manufacturing plant in Sucat, Parañaque City. EDC sources geothermal power from its BaconManito geothermal project in the Bicol region to

supply Mondelez Philippines. “We are proud to source our power from 100-percent renewable energy. Sustainability for our company is about preserving our world and its people. We all depend on just one planet. The smart and sustainable use of natural resources to reduce our environmental footprint is necessary now

E-commerce, a bright spot in uncertain times By Nagesh Devata

General Manager for Cross-Border Trade, Southeast Asia

GLOBAL economic slowdown, paired with persistent high domestic inflation in the Philippines, is raising anxiety among many Filipino businesses. The rising prices of basic commodities and the weakening peso have dampened growth prospects for the country. But there are sectors that remain bullish. In particular, the ecommerce sector is expected to maintain healthy and resilient growth, presenting opportunities for businesses of all sizes. A recent report by Statista said the Philippine e-commerce market revenue grew to $840 million or about P44 billion in 2018, from $688 million or about P36 billion in 2017. This number is expected to grow about 10.5 percent annually, leading to a market volume of $996 million or about P53 billion by 2019. Here are the three e-commerce bright spots that Filipino businesses can focus on to stay upto-date with the dynamic retail environment and changing consumer preferences. Access emerging consumer markets. E-commerce is increasingly multilateral. As consumer purchasing power expands and digital infrastructure becomes more sophisticated globally, businesses need to identify emerging markets with the right potential. Accessing these evolving consumer markets helps businesses diversify their revenue streams, which, in turn, helps build greater resilience and stability when growth slows in other markets. Key developments expected this year include the rise of regional trade clusters, which businesses can capitalize on to navigate the challenges within the current climate of uncertainty. Negotiations on the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade pact involving 16 countries of which the Philippines is involved, are expected to conclude this year. If successful, this trade agreement will fuel international trade with the Asean member-states and People’s Republic of China, South Korea, Japan, India, as well as Australia and New Zealand. According to PayPal’s Cross-Border Consumer Research 2018, there is a growing cross-border emarketplace in Asia Pacific. While the US and China remain the biggest markets in terms of online spend, Japan and India are growing fast. Looking at individual markets, the scale of this opportunity becomes clear. According to 2018 research by PayPal, India’s e-commerce is expected to grow by 42 percent year-on-year, and yet only 34 percent of consumers shop cross-border. In Japan, e-commerce is projected to grow by 23 percent year-on-year, but only 6 percent of consumers purchase from nonlocal online retailers. There are tremendous opportunities for the cross-border e-commerce sector to expand, and Philippine merchants should look to capitalize on the growth

potential of these emerging markets. Be known for something other than low product prices. Changes to taxation and trade policies for online goods could affect price-sensitive shoppers, and in turn, impact online sales. However, the survey has shown that in Asia Pacific, price is not the only driver for online purchases. Almost half of consumers shop internationally as it allows them to purchase higher quality goods (49 percent) and gain access to items not found in their own country (48 percent). Consumer-buying behavior also informs their online attitudes. For niche products, some consumers are very willing to pay a premium. Filipino businesses should take note and investigate the potential for producing uniquely “Pinoy” products in order to offer consumers greater value-add beyond just price. Online retail need not be a race to the cheapest item. Enhance the overall consumer experience. Seamless retail and service experience holds the key to succeeding in today’s shopping environment. As the proportion of online retail sales increase, businesses need to understand the changing consumer landscape and constantly improve the shoppers’ experience to cushion against price increases. With e-commerce as an endless aisle, the need to provide an excellent overall experience is as critical as ever to retain customers. The research identified the main barriers for cross-border e-commerce as shipping costs (29 percent), a difficult returns process (24 percent), concerns about not receiving an item (23 percent), and a perceived lack of help (22 percent). Businesses need to think beyond the narrow dimensions of their own product and ensure that they integrate seamless logistics solutions for the delivery and return of goods as well as uphold high standards of customer service to capture market share. In the Philippines, the option to pay in local currency (58 percent) and secure payments (52 percent) are some of the top drivers encouraging cross-border purchasing. This sentiment is shared by other Asia-Pacific regions as well. Businesses looking to access emerging markets will need to consider payment platforms that supports multiple currencies to give cross-border consumers the option to pay in their local currency. With an inflow of investments and the rise of e-commerce players of all sizes, opportunities are considerable. Despite the increasing business uncertainty expected this year, the fundamentals underpinning e-commerce remain strong. With the right strategies, businesses have much to gain from e-commerce’s potential to weather the storms and emerge stronger than ever. [1] Statista [2-3] Source: PayPal conducted a global survey with approximately 34,000 consumers from 31 markets to examine how people shop online and across borders. Research in the Philippines was carried out with 1,006 respondents between April 16 and April 27, 2018. [4-6] Ibid.

more than ever. This latest initiative complements our other sustainable projects in the Philippines,” Mondelez Philippines Plant Lead Atul Kulkarni said. He was referring to the biomass boiler, which uses biodegradable sources of fuel, a rainwatertreatment facility to lessen water waste; plasticwaste recycling projects; and solar-power systems.

MUTUAL FUNDS

The official said these all contribute to the achievement of the company’s sustainability goals. Mondelez Philippines is best known for providing Filipinos with their favorite snack products, such as Eden cheese, Cheez Whiz, Tang powdered beverage, Oreo cookies, Toblerone and Cadbury Dairy Milk chocolate. Lenie Lectura

April 17, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS ALFM ALFM GROWTH FUND, INC. -A 260.91 -2.77% 0.53% 1.34% 3.44% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.5922 -0.63% 8.22% 3.12% 10.51% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 4.0784 -4.26% 0.78% 0.23% 4.49% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.933 -0.48% N.A. N.A. 4.77% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8627 N.A. N.A. N.A. 5.12% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.4447 -0.89% 0.57% 1.08% 3.29% MBG EQUITY INVESTMENT FUND, INC. -A 127.1 8.46% N.A. N.A. 9.14% ONE WEALTHY NATION FUND, INC. -A 0.8677 -3.4% -4.55% N.A. 4.24% PAMI EQUITY INDEX FUND, INC. -A 51.5504 -0.53% 1.35% N.A. 4.77% PHILAM STRATEGIC GROWTH FUND, INC. -A 538.52 -0.78% 0.36% 1.01% 4.62% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3037 0.39% 2.04% 3.99% 3.96% PHILEQUITY FUND, INC. -A 38.3973 0.09% 2.87% 3.34% 4.82% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,3 1.0286 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2193 -0.17% 2.31% 3.37% 5.25% PHILIPPINE STOCK INDEX FUND CORP. -A 871.16 -0.05% 1.99% 3.3% 5.15% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.9221 1.98% 1.18% N.A. 7.07% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 4.2738 0.94% 2.31% 2.36% 5.29% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 1.0018 - 0.53% 1.99% N.A. 4.98% UNITED FUND, INC. -A 3.703 2.32% 4.22% 3.44% 5.77% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C,2 116.548 0.36% 3.04% 4.38% 5.24% ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0399 -6.35% 6.89% 1.62% 11.93% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $1.2922 1.23% N.A. N.A. 16.93% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.7091 -1.96% -0.8% -1.37% 3.51% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.3027 -1.61% 0.81% 0.81% 4.23% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6226 -0.19% -0.88% -1.29% 3.1% GREPALIFE BALANCED FUND CORPORATION -A 1.3469 -2.38% N.A. N.A. 3.27% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9082 1.12% 0.89% 1.37% 3.53% PAMI HORIZON FUND, INC. -A 3.6517 -0.87% -0.47% 0.44% 3.47% PHILAM FUND, INC. -A 16.4906 0.11% -0.3% 0.5% 3.66% SOLIDARITAS FUND, INC. -A 2.1319 0.2% 1.28% 2.18% 2.88% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.8187 1.05% 1.04% 1.52% 4.58% SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,4 0.989 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,4 0.9881 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,4 0.9861 N.A. N.A. N.A. N.A. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9614 0.1% 0.59% N.A. 4.31% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.036 2.16% 0.34% 1.55% 2.13% PAMI ASIA BALANCED FUND, INC. -A $1.0024 -5.56% 3.85% -0.12% 7.07% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $3.718 1.12% 6.22% 3.23% 12.38% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.092 0.06% N.A. N.A. 8.12% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 347.66 2.86% 2.13% 2.11% 1.25% ATRAM CORPORATE BOND FUND, INC. -A ,1 1.8821 0.68% -0.18% -0.23% 1.23% COCOLIFE FIXED INCOME FUND, INC. -A 3.0148 5.35% 5.23% 5.3% 1.48% EKKLESIA MUTUAL FUND INC. -A 2.1577 2.36% 1.29% 1.81% 1.28% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.2535 1.72% 0.32% 0.9% 2% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6027 0.21% -0.34% 0.3% 2.45% PHILAM BOND FUND, INC. -A 4.0201 1.59% -0.59% 0.75% 2.56% PHILEQUITY PESO BOND FUND, INC. -A 3.5964 2.85% 1.38% 1.16% 2.25% SOLDIVO BOND FUND, INC. -A 0.9172 1.08% -0.68% N.A. 2.76% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 2.8769 3.76% 1.69% 1.76% 4.01% SUN LIFE PROSPERITY GS FUND, INC. -A 1.5952 3.26% 0.89% 1.27% 3.59% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $453.89 2.44% 1.73% 2.84% 1.25% ALFM EURO BOND FUND, INC. -A Є215.88 1.23% 1.39% 1.58% 1.52% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.1662 4.29% 1.52% 2.28% 3.59% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0252 1.61% 0.67% N.A. 1.61% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7125 -0.9% -1.44% 0.88% 1.32% MAA PRIVILEGE DOLLAR FIXED INCOME FUND, INC. N.S. N.S. N.S. N.S. N.S. MAA PRIVILEGE EURO FIXED INCOME FUND, INC. ЄN.S. N.S. N.S. N.S. N.S. PAMI GLOBAL BOND FUND, INC -A $1.0595 1.47% -0.83% -2.4% 2.11% PHILAM DOLLAR BOND FUND, INC. -A $2.2525 3.15% 0.2% 2.74% 3.74% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0581013 2.46% 1.13% 1.78% 1.97% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.965 0.88% -0.38% 2.02% 3.23% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 122.37 3.42% 2.18% 1.77% 1.27% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,5 1.0079 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.1956 2.72% 1.15% 0.76% 1.16% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A 1.2339 3.26% 2.49% 1.85% 1.22% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.0233 2.06% N.A. N.A. 0.73% * - NAVPS AS OF THE PREVIOUS BANKING DAY ** - NAVPS AS OF TWO BANKING DAYS AGO *** - LISTED IN THE PSE. **** - RE-CLASSIFIED INTO A BALANCED FUND STARTING JANUARY 1, 2017 (FORMERLY GREPALIFE BOND FUND CORP.). ***** - LAUNCH DATE IS NOVEMBER 6, 2017 ****** - LAUNCH DATE IS JANUARY 08, 2018 ******** - RENAMING OF THE FUND WAS APPROVED BY THE SEC LAST APRIL 13, 2018.

********* - BECAME A MEMBER SINCE APRIL 20, 2018. ******* - ADJUSTED DUE TO CASH DIVIDEND ISSUANCE LAST JANUARY 29, 2018

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The World BusinessMirror

China’s economic growth steady amid tariff war with Washington

HANGHAI—China’s economic growth held steady in the latest quarter despite a tariff war with Washington as Beijing’s efforts to reverse a slowdown started to gain traction. The world’s second-largest economy expanded by 6.4 percent over a year earlier in the three months ending in March, the government reported on Wednesday. That matched the previous quarter for the weakest growth since 2009. “This confirms that China’s economic growth is bottoming out and this momentum is likely to continue,” said Tai Hui of JP Morgan Asset Management in a report. A revival in Chinese growth and demand for imports could help to shore up weakening global economic activity. China is the biggest export customer for its Asian neighbors and a top market for autos, mobile phones and other consumer goods, food and industrial technology. Communist leaders stepped up government spending last year and told banks to lend more after economic activity weakened, raising the risk of politically dangerous job losses. Beijing’s decision to reverse course temporarily on a campaign to rein in rising debt “is starting to yield results,” Hui said. Consumer spending, factory activity and investment all accelerated in March from the previous month, the National Bureau of Statistics reported. The economy showed “growing positive factors,” a bureau statement said. Forecasters expect Chinese

growth to recover this year. They had predicted a revival last year but pushed back that time line after President Donald J. Trump hiked tariffs on Chinese imports over complaints about Beijing’s technology ambitions. The fight between the two biggest global economies has disrupted trade in goods from soybeans to medical equipment, battering exporters on both sides and rattling financial markets. The two governments say settlement talks are making progress, but penalties on billions of dollars of each other’s goods are still in place. Communist leaders also are promising to make the state-dominated economy more productive by giving entrepreneurs and foreign companies a bigger role in autos, finance and other industries. China’s top economic official, Premier Li Keqiang, reduced the 2019 annual growth target of 6 percent to 6.5 percent in March after last year’s rate fell to a three-decade low of 6.6 percent. Li warned of “rising difficulties” in the global economy and said the ruling Communist Party plans to step up deficit spending this year to shore up growth. The stimulus measures have temporarily set back official plans to reduce reliance on debt and investment to support growth. Also in March, exports rebound-

IN this April 10, 2019, photo, a worker transfers an aluminium roll at a factory in Nanning in south China’s Guangxi Zhuang Autonomous Region. China’s economic growth held steady in the latest quarter despite a tariff war with Washington, suggesting Beijing’s efforts to reverse a slowdown might be gaining traction. CHINATOPIX VIA AP

ed from a contraction the previous month, rising 14.2 percent over a year earlier. Still, exports are up only 1.4 percent so far this year, while imports shrank 4.8 percent in a sign of weak Chinese domestic demand. Auto sales fell 6.9 percent in March from a year ago, declining for a ninth month. But that was an improvement over the 17.5 percent contraction in January and February. Investment in construction will support growth but “the outlook is cloudier for the rest of China’s economy” due to weak auto sales and a global manufacturing slowdown, Bill Adams of PNC Financial Services Group said in a report. He said full-year growth is likely to be just 6.2 percent. Economists warn that even if Washington and Beijing announce a trade settlement in the next few weeks or months, it is unlikely to resolve all the irritants that have bedeviled relations for decades. The two governments agreed

December 1 to postpone further penalties while they negotiate, but punitive charges already imposed on billions of dollars of goods stayed in place. Even if they make peace, the experience of other countries suggests it can take four to five years for punitive duties to “dissipate fully,” Jamie Thompson of Capital Economics said in a report last week. Chinese leaders warned previously any economic recovery will be “L-shaped,” meaning once the downturn bottoms out, growth will stay low. Credit growth accelerated in March, suggesting companies are stepping up investment and production. Total profit for China’s nationallevel state-owned banks, oil producers, phone carriers and other companies rose 13.1 percent over a year ago in the first quarter, the government reported on Tuesday. Revenue rose 6.3 percent and investment rose 9.7 percent. AP

Japan exports, trade surplus slid in March

OKYO—Japan’s exports declined in March as shipments to China dropped more than 9 percent, pulling the nation’s trade surplus sharply lower. The data released on Wednesday by the Finance Ministry was more or less in line with forecasts. The report followed two days of trade talks with the US in Washington aimed at redressing the chronic imbalance in Japan’s favor, which totaled $67.6 billion in 2018 according to US figures. Exports from Japan, the world’s third-largest economy, fell 2.4 percent from a year earlier to ¥7.2 trillion ($64 billion), while imports rose 1 percent to ¥6.7 trillion ($59 billion). The trade surplus dropped 32 percent from a year earlier to ¥528.5 billion ($4.7 billion), customs figures showed.

Exports to the US, Japan’s biggest single overseas market, rose 4.4 percent while imports fell, increasing the politically sensitive trade surplus by nearly 10, to ¥683.6 billion ($6.1 billion), up 9.8 percent from the same month a year earlier. Japan’s exports to China fell 9.4 percent from a year earlier, reflecting lower demand as the economy slows amid a trade war with the US over Beijing’s technology ambitions. Darren Aw of Capital Economics said in a commentary that the deficit in March was not a significant concern and that overall, trade may have contributed to economic growth in the last quarter. “The bigger picture, however, remains unchanged—the outlook for external demand remains weak,” he said.

US Trade Representative Robert Lighthizer’s office said in a statement that he and Japan’s Trade Minister Toshimitsu Motegi agreed to continue talks soon. In Tokyo, Chief Cabinet Secretary Yoshihide Suga told a regular news conference that he received a report from Washington that the two sides had started negotiations in line with an agreement last September between Trump and Prime Minister Shinzo Abe. The talks included trade in agricultural products and autos. “I expect we will have constructive talks so that we have meaningful results that serve our national interest,” he said. Motegi told reporters that he told Lighthizer that Japan will not compromise on imports of agricultural products, saying that the

conditions agreed in past negotiations are as far as Japan could go. Japan made significant concessions on imports of dairy and other farm products during tough negotiations on the Trans-Pacific Partnership, a Pacific Rim trade deal that President Donald Trump withdrew from shortly after taking office in 2017. “In the area of agricultural products, conditions we have promised in past economic cooperation are as far as we can go. I have told him that that’s the line Japan cannot go beyond,” he said. Japan’s conservative ruling party, the Liberal Democrats, have traditionally relied on strong support from rural voters and have sought to protect the country’s farm sector from foreign competition. AP

French tycoons show competitive streak over Notre Dame donations

ARIS —Two of France’s richest men, long locked in a very public rivalry, are once again pitted against each other—this time over flashy and competing donations to rebuild Notre Dame Cathedral. Billionaire luxury tycoons—Bernard Arnault, 70, and Francois Pinault, 82—are among France’s fiercest business competitors and patrons. On Tuesday, their rivalry reached dramatic heights when it was announced Pinault, his son and their company Artemis would immediately donate €100 million ($113 million) to help finance renovations to Notre Dame after it was seriously damaged in an inferno during building works. Hours later, Arnault shot back with an announcement that he, his family and his luxury company LVMH would pledge double that amount—€200 million ($226 million)—for the restoration of the church that was immortalized in Victor Hugo’s 1831 novel The Hunchback of Notre Dame—an eternal story of obsession and jealousy. The famed rivalry of Arnault and Pinault, whose names rhyme, goes back decades. “They’re like competing boys, but the stakes

IN this January 29, 2019, file photo, CEO of LVMH Bernard Arnault arrives to present the group’s 2018 results during a conference in Paris. As the France woke up in collective sadness at the fire damage to Notre Dame Cathedral, its richest businessman, Bernard Arnault, and his luxury goods group LVMH answered that call with a pledge of €200 million ($226 million). A communiqué said that the Arnault family was “in solidarity with this national tragedy, and join in the reconstruction of this extraordinary cathedral, a symbol of France, of its heritage and togetherness.”AP PHOTO/CHRISTOPHE ENA

run into the billions,” said Long Nguyen, fashion editor at Flaunt magazine. Arnault is France’s—and Europe’s—richest man and CEO of the world’s biggest luxury group, LVMH, the owner of iconic fashion houses Louis Vuitton and Christian Dior. Pinault founded the world’s second-biggest, Kering, formerly PPR, that acquired rival brand Saint Laurent in a face-off. “The Notre Dame donations are the latest in a long line...They run competing fashion houses and both like the center stage,” he added. Both men also possess a sizeable art collection—and a desire to show it off in competing museums. Pinault’s son Francois-Henri married actress Salma Hayek and is often in the society pages, while Arnault’s son Antoine fathered children to supermodel Natalia Vodianova. The two were reportedly on friendly business terms until the late 1990s. Some commentators have linked the souring of pair’s relations to a bidding battle over the ownership of Italian fashion house Gucci, which eventually went to Pinault’s Kering group. Then, the battling turned to art.

Arnault opened the Louis Vuitton Foundation, designed by architect Frank Gehry, in 2014 to showcase his vast personal art trove in Paris’s far western suburbs. Some critics have branded it a vanity project, with French media claiming that the glimmering building’s final price tag came in at close to $900 million. Meanwhile Pinault, who with his son is estimated to represent France’s sixth fortune, is following hot on Arnault’s heels and is set to open his multimillion-dollar contemporary art museum, the Collection Pinault-Paris, next spring. Since 2001, Pinault has gradually been ceding control of his business interests to his eldest son Francois-Henri, 56, to concentrate on his art collecting. The museum, designed by another big-name architect, Tadao Ando, will display the octogenarian tycoon’s personal contemporary art collection. The website highlights its prime central location “in the very heart of Paris” in the city’s former stock exchange. The Bettencourt Meyers family, which owns cosmetics giant L’Oreal, and Total also each pledged 100 million euros to go toward the restoration over the 850-year-old cathedral. AP

Editor: Angel R. Calso • Thursday-Sunday, April 18-21, 2019

Oil extends gains on report of decline in US stockpiles

IL rose toward a fivemonth high after an industry report signaled an unexpected drop in US crude inventories last week, adding to the picture of a tightening global market. Futures in New York advanced as much as 0.8 percent after gaining 1 percent on Tuesday. US stockpiles declined by 3.1 million barrels last week, the American Petroleum Institute was said to report. If confirmed by government data due later on Wednesday, that would be the first decline in four weeks and defy analyst forecasts for inventories to rise. China reported first-quarter economic growth that beat estimates, adding to crude’s upward impetus. Oil has risen for all but three weeks this year as the Organization of the Petroleum Exporting Countries (Opec) and its allies reduced production and US sanctions on Iran and Venezuela further tightened supply. The cuts have been so successful they’ve spurred speculation the cartel risks letting crude surge too high, which would likely prompt a backlash from President Donald J. Trump. “Oil prices reacted to the unexpected decline in US inventories, which tend to rise at this time of the year,” said Tomomichi Akuta, a senior economist at Mitsubishi UFJ Research and Consulting Co. in Tokyo. “It probably reflects robust American oil exports,” he said, add-

ing that Trump will probably try and get Opec to keep prices in check if they keep rising. West Texas Intermediate for May delivery rose 43 cents, or 0.7 percent, to $64.48 a barrel on the New York Mercantile Exchange as of 12:31 p.m. in Singapore. It advanced as much as 49 cents earlier and climbed 65 cents to close at $64.05 on Tuesday. Brent for June settlement added 27 cents to $71.99 a barrel on the London-based ICE Futures Europe exchange. The contract rose 54 cents to $71.72 on Tuesday. The global benchmark crude was at a premium of $7.39 to WTI for the same month. US crude stockpiles probably grew by 2.3 million barrels to 458.9 million barrels in the week through April 12, according to the median estimate in a Bloomberg survey. The official data is due late morning in Washington. While oil has managed to keep rallying despite a less-than-stellar global demand outlook, there have been some signs recently that the picture might not be as bad as previously thought. China’s first-quarter gross domestic product rose 6.4 percent from a year earlier, beating the 6.3 percent median estimate in a Bloomberg survey. Industrial production jumped 8.5 percent yearon-year in March, much higher than forecast. Bloomberg News

Trump to allow lawsuits over US properties seized in Cuba

A SHINGTON—Stepping up pressure on Cuba, the Trump administration will allow lawsuits against foreign companies doing business in properties seized from Americans after the island’s 1959 revolution, a senior administration official said on Tuesday. The move marks a change in more than two decades of US policy on Cuba. President Donald J. Trump has been taking steps to isolate embattled Venezuela President Nicolas Maduro, who is holding power with help from other countries, including Cuba, China and Russia. The new policy against Havana could deal a severe blow to Cuba’s efforts to draw foreign investment, and spawn international trade disputes between the US and Europe. The administration official that provided details of the shift spoke on condition of anonymity ahead of the official announcement by the State Department. After that announcement, national security adviser John Bolton is expected to discuss the new policy during a speech on Wednesday in Miami, which is home to thousands of exiles and immigrants from Cuba, Venezuela and Nicaragua. The speech at the Bay of Pigs Veterans Association is to be delivered on the 58th anniversary of the United States’s failed 1961 invasion of the island, an attempt to overthrow the Cuban government. Johana Tablada, Cuba’s deputy director of US affairs, said on Twitter: “Before they try to euphorically ride a wave of wickedness and lies, they should take a dose of reality. The world has told John Bolton and the US government to eliminate the criminal blockade against Cuba and the Helms-Burton Act.” The 1996 Act gave Americans the right to sue the mostly European companies that operate out of hotels, tobacco factories, distilleries and other properties that Cuba nationalized after Fidel Castro took power. The Act even allows lawsuits by Cubans who became US citizens years after their properties were taken. Canada, France, Spain, Great Britain and other countries with large investments in Cuba have

ferociously protested the law and threatened to sue in the World Trade Organization if Washington tries to interfere with the business ties between Cuba and another sovereign nation. “The extraterritorial application of the US embargo is illegal and violates international law,” said Alberto Navarro, the European Union ambassador to Cuba. “I personally consider it immoral. For 60 years the only thing that’s resulted from the embargo is the suffering of the Cuban people.” US airlines and cruise lines that bring hundreds of thousands of travelers to Cuba each year appear to be exempt from the key provision of the Helms-Burton Act. Every US president since Bill Clinton has suspended the key clause to avoid those trade clashes and a potential mass of lawsuits that would prevent any future settlement with Cuba over nationalized properties. Cuba has said it is willing to reimburse the owners of confiscated properties, but only if the communist government is also reimbursed for billions of dollars in damages generated by the sixdecade US trade embargo. The announcement comes at a moment of severe economic weakness for Cuba, which is struggling to find enough cash to import basic food and other supplies following a drop in aid from Venezuela, and a string of bad years in other key economic sectors. Foreign investment in Cuba increased slightly in recent years, but it remains far below the levels needed to recapitalize the island’s dilapidated, often collapsing infrastructure. The Trump administration’s decision is not expected to drive out major foreign players like Pernod-Ricard of France, which makes Havana Club rum, or Spanish hotel chains Melia or Iberostar, but it could prove a major obstacle to new investment from foreign companies. “It will harm prospective investment in Cuba. It will not cause people who are invested in Cuba already to pull out now,” said Phil Peters, director of the Arlington, Virginia-based Cuba Research Center, who advocated for closer relations with Cuba and has consulted for US companies looking to invest. AP

TheBroa

Business

Thursday-Sunday, April 18-21, 2019

Beyond the data: What does b

By Cai U. Ordinario

@cai_ordinario

UMBERS, like those in a relationship, are often misunderstood. So much so if the numbers are being related to each other and to abstract concepts like hunger and poverty. That’s what the Philippine Statistics Authority (PSA) recently discovered after releasing poverty figures. Critics said the poverty threshold in the first semester of last year was “too low” and was not enough to meet the basic food and nonfood needs of Filipinos. Based on the results of the Family Income and Expenditure Survey (FIES), the PSA said the poverty threshold per family amounted to P10,481 a month. An income below this amount would categorize a family as being poor and an income above this would mean a family is nonpoor. The PSA defines the poor based on Section 3 of Republic Act 8425 of 1997 or the Social Reform & Poverty Alleviation Act. The agency follows the National Economic and Development Authority (Neda) definition of the poor as individuals and families whose income falls below the poverty threshold or those who “cannot afford in a sustained manner to provide their minimum basic needs of food, health, education, housing and other essential amenities of life.” “The P10,481 is the minimum income needed to buy or needed to pay for the basic food and nonbasic food needs of a family of five in a month, in a month. [If a family’s income falls] below that, that is what we are saying that a family is poor,” PSA Assistant Secretary Josie B. Perez explained to reporters during a briefing on poverty. “But we are not saying that just because you have P10,000, you are not poor.”

Critics confused

PHILIPPINE Institute for Development Studies (PIDS) Senior Research Fellow Jose Ramon Albert told the BusinessMirror that those who are complaining about the poverty threshold being low are “confusing their needs and aspirations with poverty.” Albert said the Philippines, like all countries worldwide, works with a basic needs framework when it comes to computing poverty. He said the Philippines’ methodology is similar to that of Thailand, Bhutan, Malawi, Afghanistan, Laos and Lebanon, among others. He added in a social-media post that the P10,481 was even higher than “the $1.9 per person per day international poverty line in purchasing power parity 2011 prices.” As a result, he said, the World Bank, which uses the $1.9 per day, has a lower estimate of poverty for the Philippines. Further, he said the Food and Nutrition Research Institute (FNRI) recommends 2,000 calories of food intake daily, which is already “generous” considering that many Filipinos eat less. Albert said the rich only eat 1,900 calories per day. What can be done is to re-examine the country’s food bundles every few years but chances are, the food bundles for the poor do not change as much, Albert said. Only the food bundles of the middle-income and high-income households change rapidly because they have more resources, he added.

Absolute line

ACCORDING to Albert, the same metric is applied in identifying the absolute poverty line. “That’s what an absolute poverty line is—the same metric—so

we know if the proportion is going down, [going] up or staying the same. The message is, with those poverty lines, 20 percent are in poverty and we must do all our efforts to bring that down to zero. Even if we increase the current thresholds to 10 or 20 percent more, or even 100 percent more, incidence will still fall but not by same amount,” Albert said. “What we should be working for is reducing the 20 percent in poverty to zero. We should work for a country where no one is poor.” On social media, former National Anti-Poverty Commission Undersecretary Jude Esguerra said that while Perez “was firm in her defense” of the threshold, she did fail to explain that it was important to count the number of Filipinos who are just above the poverty line and how their situation changed between 2015 and 2018. “A society can choose several poverty lines, including one, for example, that provides a buffer for the effects of a mild El Niño, but the trends in poverty reduction are very often robust even when a higher poverty line is chosen—and what is important is whether the number of families crossing the chosen thresholds is either falling short or exceeding what we aimed for,” Esguerra added.

Intelligent computation

THE PSA said poverty line or poverty threshold refers to “the minimum income/expenditure required to meet the basic food and non-food requirements.” Filomeno S. Sta. Ana III of the Action for Economic Reform (AER) said this is not a simple number since it is backed by a “scientific method.” Changing the method of computing the data is also expensive, according to Sta. Ana, coordinator of the nonprofit AER. Given the situation, it would be better for the government to focus on its programs and projects than to tinker with the method of computing the poverty threshold. In the past few days, many critics said the P10,481 is not a “decent” amount to live on. But the PSA pointed out the word “decent” is subjective and cannot be used in computing exact numbers. “Calculating the threshold has a scientific method. We cannot determine the threshold based on subjective preferences,” Sta. Ana said. “Threshold means the minimum necessary for a person to fulfill basic needs. That is the priority. Having a higher income target has consequences on interventions including budget. So the threshold is a guide for development planning.” Former National Statistical Coordination Board (NSCB) Secretary General Romulo A. Virola told the BusinessMirror the poverty threshold is also based on the income and expenditures derived from the FIES.

One’s impossible

THE FIES in 2018 was conducted using the 2013 Master Sample with 180,000 sample families. It is considered the largest of the FIES conducted in recent years. Conducting the FIES is no simple task. Apart from conducting face-to-face interviews, the questionnaire takes three to five hours to administer, depending on the size of the household. The questionnaire includes income sources in cash and in kind as

well as expenses. Households need to estimate the amount of rice, for example, that they consumed during a certain period, usually a week or a month. Since the questionnaire includes data on “in kind” or donations from all kinds of food and non-food items, households are also required to provide this information. “For poverty monitoring, you want to know the income one should have to be able to pay for the basic requirements to ‘live’ so the cheapest menu is what you are after,” Virola said. “Most of those who cannot understand the threshold think in terms of eating in restaurants, enjoying alcoholic drinks and cigarettes, expenditure items that are not basic.” He further explained that the “fe” (food expenditure) over “tbe” (total basic expenditure) “is derived from the FIES—the expenditure patterns and the income. Virola added that if there is something that can be improved on, it is for the PSA to widen its coverage of places to obtain prices—this, in order to improve the computation of prices in the menus or food bundles. He said it would also be good to reconsider the position of National Statistician being given to only one person. Virola said it is impossible for just one National Statistician to address all these concerns .

Ratio, requirements

CURRENTLY, the government has two measures to determine how many Filipinos remain poor. The first measure is based on the FIES while the other, which is the most recent one that was developed by the PSA, is the Multidimensional Poverty Index (MPI). The poverty data computes for the threshold and from there determines how many households meet this income level. This can be done since the FIES collects both income and expenditure per household. The mathematics behind the threshold involves dividing what is termed as the food threshold with the ratio of the food expenditures and total basic expenditures. The food expenditures and basic expenditures are based on the FIES. The food threshold only accounts for food requirements. This is based on the national reference food bundle, which is converted into provincial food bundles. These include food items that are: least costly; nutritionally adequate or meets the 100-percent Recommended Energy and Nutrient Intakes (Reni) for energy and protein and 80-percent Reni for other vitamins and minerals (such as those contained in fruits and vegetables); locally available; and can be cooked together and be fit for human consumption.

Difficult determination

IN a presentation at the First Data Festival last year, PSA Poverty and Human Development Statistics Division Chief Statistical Specialist Bernadette B. Balamban said the national reference food bundle for breakfast includes the following: scrambled egg, coffee with milk, and boiled rice/rice-corn mix. Balamban said lunch includes boiled/ginataang (coconut milk) monggo with malunggay (Moringa oleifera) and dried dilis (Philippine anchovy), banana, boiled rice/corn mix. She said dinner had fried fish/ boiled pork, vegetable dish, boiled rice/rice-corn mix; and for snacks, bread or boiled rootcrop. Translated into the food bundle for the National Capital Region (NCR) or Metro Manila, breakfast includes scrambled egg, coffee with milk, and boiled rice; lunch is boiled monggo with malunggay and dried dilis, latundan and boiled rice; and, dinner is fried tulingan, boiled kangkong and boiled rice; and for snacks, pandesal. “To estimate the food thresh-

IN this July 19, 2015, file photo, a man walks by a wooden house in Makati City. Critics said the poverty threshold per family of P10,481 a month was “too low” and was not enough to meet the basic food and nonfood needs of Filipinos. AKARAT PHASURA | DREAMSTIME.COM

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Editor: Dennis D. Estopace | Thursday-Sunday, April 18-21, 2019

being poor in the PHL mean? ‘A

SOCIETY can choose several poverty lines, including one, for example, that provides a buffer for the effects of a mild El Niño, but the trends in poverty reduction are very often robust even when a higher poverty line is chosen—and what is important is whether the number of families crossing the chosen thresholds is either falling short or exceeding what we aimed for.”—Former National AntiPoverty Commission Undersecretary Jude Esguerra old, each of the ingredients in the food bundle [is] priced using data collected by PSA,” Balamban said in her presentation. “The per capita per day food cost are then computed based on this, which is then multiplied by 30.4 (approximate number of days per month) to get the monthly food threshold or by 365 days (30.4 days/month x 12 months) to get the annual per capita food threshold.” The food bundles all come from the FNRI since these are based on Reni, as well as the proportion of food bought and own-produced components obtained from the Food Consumption Survey. But prices of food items are obtained from the PSA’s agricultural commodities retail and farm gate price data, by province and non-agricultural commodities retail price data, by province. In terms of nonfood items, Balamban said these included clothing and footwear; fuel, light and water; housing maintenance and other minor repairs; rental of occupied dwelling units; medical care; education; transportation and communication; non-durable furnishing; household operations and personal care and effects. “As common practice in most countries, the nonfood component is measured indirectly, due to the difficulty of determining the required bundle for the nonfood items,” the PSA said in a briefer on the poverty methodology released on Friday.

Ibon, BMP

FOR Ibon Foundation Inc., choosing poverty lines was a political decision since setting a high standard indicates that the government will have a high level of ambition for poverty eradication. For the nonprofit group, the family living wage (FLW) for a family of five members in NCR is more than double the governmentset poverty threshold. Ibon estimated that each family must have P23,660 per month or P1,004 per day to be able to meet their food and nonfood needs. “Government, however has chosen to set a low standard—in this case, the P10,481 per month or P69.87 per day poverty threshold—which results in tens of millions of Filipinos not meeting minimum standards of well-being and hidden behind unrealistic official poverty statistics,” Ibon said. Meanwhile, Leody de Guzman, the chairman of the militant Bukluran ng Manggagawang Pilipino (BMP), said the PSA should “abandon its existing poverty threshold” and “take the cue from the public’s rejection of their recent statistics.” De Guzman also challenged members of the economic team to “try to live [on a] P10,000 a month budget,” since it is the “best way” to appreciate the sentiments of the people on their poverty. He added that the “public’s rejection” of the latest poverty statistics is a “clear signal” that the PSA must adopt a new poverty measure.

Netizens’ ire

A GOOD place to start, de Guzman said, is the earlier statement of Socioeconomic Planning Secretary Ernesto M. Pernia on the decent or living wage that is P42,000 a month for a family of five. “The principal measure for poverty should be the cost of de-

cent living. The minimum wage for eight hours of work should be equal to the cost of living,” de Guzman said. “Anything below it is starvation wages and indecent.” Meanwhile, Abakada Party List has also called on the PSA to release “realistic figures to justify their poverty threshold in order to provide the proper benchmark to address the problem.” Abakada Party-list Rep. Jonathan dela Cruz said the P10,481 poverty threshold set by the PSA was not consistent with actual experiences, based on their own consultations with different sectors. If the data was credible, dela Cruz added, the PSA would not come under fire from netizens who feel like the data was plucked out of thin air. He urged the PSA to furnish the details of their computations and explain how the agency arrived with the threshold. “The work of the PSA is to provide statistics that will serve as a basis for legislators and budget agencies to create legislation and projects that will benefit the masses,” dela Cruz said. “In order to promote their credibility as an agency, they must convince the people that they know what they are doing. These initial figures are doing the opposite.”

APIS, LFS

NEDA Undersecretary for Policy and Planning Rosemarie G. Edillon said the official poverty statistics, which are based on incomes, is an international standard that is the basis for many of the country’s goals and targets, including international commitments such as the Sustainable Development Goals (SDGs). However, Edillon said the government has another way to measure poverty that focuses on other issues apart from income. The MPI, which was only introduced in 2018, measured “deprivations in various dimensions.” The PSA said this was created in response to studies that showed poverty was not only about income. No less than Nobel laureate in economics Joseph E. Stiglitz, in a piece titled “Beyond GDP” for the website Project Syndicate posted on December 3, 2018, highlighted the need to examine other factors affecting well-being beyond income. Stiglitz said GDP was not a good measure for well-being since it was a measure of production and that it highlights materialism. “If we want to put people first, we have to know what matters to them, what improves their wellbeing, and how we can supply more of whatever that is,” he said. Based on the technical notes of the initial data released by PSA, the MPI methodology, developed by PSA in consultation with the Interagency Committee on Poverty Statistics (lAC PovStat), used the merged dataset of the 2016 and 2017 Annual Poverty Indicators Survey (APIS) and Labor Force Survey (LFS). It measured deprivations in four key dimensions—education; health and nutrition; housing, water and sanitation; and employment. These were measured according to 13 indicators, the most was in housing, water and sanitation which had five indicators—assets, toilet, water, tenure, housing materials and electricity.

Education indicators included school attendance and educational attainment; for health and nutrition, the indicators are hunger, food consumption and health insurance; and for employment, underemployment and working children who are not in school. The merged datasets have 5,324 families for 2016 and 4,202 for 2017. As a result of the merging of the two datasets, weights were adjusted correspondingly with employment and education getting the largest weights. “This is a measure that focuses on the deprivation of the comforts in life,” Edillon said.

Recalculating index

HOWEVER, the MPI had its own challenges. In a study titled “Poverty is Multidimensional: But Do We Really Need a Multidimensional Poverty Index?,” Albert and Research Assistant Jana Flor V. Vizmanos said some indicators such as the experience of hunger and non-coverage of health insurance to determine extent of poverty in the country may be included. However, Albert and Vizmanos said coming up with an MPI would be better left to think tanks and other research institutions to avoid any confusion when it comes to official poverty estimates that are periodically released by the PSA. De Guzman also said that the MPI released last December 2018 was still insufficient since it would be better for the dimensions to be identified by Filipinos and not PSA. The labor leader champions a “participatory multidimensional poverty index” which first asks people the indicators they feel as most important to their poverty and how important those indicators were before preparing a formula for MPI. De Guzman said their own study reveals there’s a problem in selecting the components of MPI and its threshold. He added these components are limited and the threshold is unbelievable. “Our team studied this and discovered there’s a problem in selecting the MPI components and their thresholds—the components are too limited and the thresholds seem unrealistic,” he said in a mix of English and Filipino. De Guzman champions a “participatory MPI,” which first asks poor people what factors affect their level of poverty and how important these are to their life. This must be done before preparing a formula for MPI. He also suggested that the government use a figure that would indicate “decent living.” De Guzman said a good number to start with is the number P42,000 a month put forth by Pernia himself. He said this amount should be used to measure poverty. “The minimum wage for 8 hours of work should be equal to the cost of living,” he said. “Anything below it is starvation wages and indecent.”

Integrity of data

FOR the uninitiated, changing poverty thresholds and methodologies are simple, mundane tasks. But in truth, Edillon said, it is not. Given the standards that need to be followed to ensure the integrity of the data that is collected, there is no room for the government to cut corners.

Edillon said that while the government understands the limitations of the data it has on poverty, the PSA has not been remiss in its duties to improve them. She said, however, there are “best practices” that need to be followed, such as not changing methodologies within an administration. She said this is similar to changing “the rules of the game” while the game is ongoing. An example would be the poverty methodology of the PSA. Edillon said based on a resolution released by the defunct NSCB, the poverty methodology can only be changed every 12 years. However, given that the last update of the methodology was in 2009, the methodology needs to be changed by 2021. But, she said, since this change will happen within the same administration, it cannot be done and the updating will have to be done in 2023 or when the new administration arrives. “We share the same frustration over that measure, that’s why we are developing other measures such as the multidimensional poverty index, which is based on the APIS, and one new measure that we are trying to develop is the AmBisyon, but it will not come up with a peso number, it will be more selfrated,” Edillon said. The poverty indicators to be included in the AmBisyon measure will be based on the goals and aspirations of Filipinos as stated in the AmBisyon2040. There are three pillars, the Matatag, Maginhawa, and Panatag na Buhay, which will be the basis for the indicators.

Other variables

BASED on the results of the longterm vision, AmBisyon2040, data showed that 79.2 percent of Filipinos only want a simple and comfortable life in 25 years. Only 3.9 percent of Filipinos wanted to have the life of the rich. Sample indicators under Matatag include asking Filipinos if they are able to spend enough time with family and friends, while those under Maginhawa can include the hunger incidence, diet diversity and going on vacations, among others. Indicators under Panatag include those that pertain to security and safety, including savings. “This will give the percentage of those who consider that they are enjoying the matatag, maginhawa and panatag [stable, comfortable and secure] life that they want,” Edillon said. “Yes, this can answer question on the ‘decent’ debate when it comes to the FIES-based poverty incidence because based on the 2016 survey, this [Am Bisyon] is the life we want.” Edillon said the Neda has already done the pretest for the AmBisyon measure. The pilot study has already been conducted nationwide but only had 5,000 respondents. She said it was an exercise intended to pilot the questionnaire so the numbers obtained from the survey were not definitive. She hopes that with the approval and signing of the 2019 budget on Monday, the government can conduct the nationwide baseline survey for the AmBisyon within the year. The Neda will be bidding out the project to a third party, more likely a research institution, to conduct the survey.

The World

Thursday-Sunday, April 18-21, 2019 • Editor: Angel R. Calso

BusinessMirror

Trump vetoes measure to end US involvement in Yemen war

ASHINGTON—President Donald J. Trump vetoed a resolution passed by Congress to end US military assistance in Saudi Arabia’s war in Yemen. The veto—the second in Trump’s presidency—was expected, and Congress lacks the votes to override it. But passing the never-before-used war powers resolution was viewed as a milestone for lawmakers, who have shown a renewed willingness to assert their war-making authority after letting it atrophy for decades under presidents from both parties. “This resolution is an unnecessary, dangerous attempt to weaken my constitutional authorities, endangering the lives of American citizens and brave service members, both today and in the future,” Trump wrote in explaining his Tuesday veto. Congress has grown uneasy with Trump’s close relationship with Saudi Arabia as he tries to further isolate Iran, a regional rival. Many lawmakers also criticized the president for not condemning Saudi Arabia for the killing of Jamal Khashoggi, a Saudi who lived in the United States and had written critically about the kingdom. Khashoggi went into the Saudi consulate in Istanbul last October and never came out. Intelligence agencies said Saudi Crown Prince Mohammed bin Salman was complicit in the killing. The US provides billions of dollars of arms to the Saudi-led coalition fighting against Iran-backed rebels in Yemen. Members of Congress have expressed concern about the thousands of civilians killed in coalition airstrikes since the conflict began in 2014. The fighting in the

Arab world’s poorest country also has left millions suffering from food and medical-care shortages and has pushed the country to the brink of famine. Trump said the measure was unnecessary because except for counterterrorism operations against Islamic State militants and al-Qaida in the Arabian Peninsula, the United States is not engaged in hostilities in or affecting Yemen. He said there were no US military personnel in Yemen accompanying the Saudi-led coalition fighting Iran-backed Houthis, although he acknowledged that the US has provided limited support to the coalition, including intelligence sharing, logistics support, and—until recently—in-flight refueling of nonUS aircraft. The president also said that the measure would harm bilateral relations and interferes with his constitutional power as commander in chief. He said the US is providing the support to protect the safety of more than 80,000 Americans who live in certain areas of the coalition countries subject to Houthi attacks from Yemen. “Houthis, supported by Iran, have used missiles, armed drones and explosive boats to attack civilian and military targets in those coalition countries, including areas frequented by American citizens, such as the airport in Riyadh, Saudi

R THIS April 10, 2019, file photo shows a view of the site of an airstrike by Saudi-led coalition in Sanaa, Yemen. President Donald J. Trump on Tuesday vetoed a bill passed by Congress to end US military assistance in Saudi Arabia’s war in Yemen. AP PHOTO/HANI MOHAMMED Arabia,” Trump said. “In addition, the conflict in Yemen represents a ‘cheap’ and inexpensive way for Iran to cause trouble for the United States and for our ally, Saudi Arabia.” House approval of the resolution came earlier this month on a 247-175 vote. The Senate vote last month was 54-46. House Speaker Nancy Pelosi issued a statement on Tuesday night saying: “The conflict in Yemen is a horrific humanitarian crisis that challenges the conscience of the entire world. Yet, the President has cynically chosen to contravene a bipartisan, bicameral vote of the Congress and perpetuate America’s shameful involvement in this heartbreaking crisis.” Pelosi added: “This conflict must end, now. The House of Representatives calls on the President to put

THE stainless steel Genghis Khan equestrian statue and complex on the bank of the Tuul River. BLOOMBERG NEWS

At stake is Mongolia’s international image in a delicate game it has been playing to balance the influences of Russia, China and the US. While Western democracies see Mongolia as oasis of democracy, sandwiched between Russia and China, the country relies largely on its neighbors to buy its resources and provide investment. In March, China bought 86 percent of Mongolia’s exports. A trade agreement introduced this month in the US Congress —the Mongolia Third Neighbor Trade Act—would remove duties on exports such as cashmere, which Mongolia is pushing to diversify its trade away from minerals. US Sen. Ben Cardin, who co-introduced the bill, called Mongolia “a stable democracy in a sea of authoritarianism” that contributes to US national security goals in Asia. In an April 11 statement, he said the act would bring employment to the country and help empower women, who comprise most of the country’s garment industry. But Battulga also wants closer cooperation with the eight-member Shanghai Cooperation Organization, an Asian centered security and economic group that includes China and Russia. In a meeting with Russian President Vladimir

Palestinian PM accuses US of ‘financial war’

PALESTINIAN Prime Minister Mohammad Shtayyeh listens during an interview with The Associated Press at his office in the West Bank city of Ramallah on Tuesday, April 16, 2019. Shtayyeh accused the United States of declaring “financial war” on his people and said an American peace plan purported to be in the works will be “born dead.” AP PHOTO/NASSER NASSER

peace before politics, and work with us to advance an enduring solution to end this crisis and save lives.” Sen. Tim Kaine, D-Va., said Trump’s veto “shows the world he is determined to keep aiding a Saudibacked war that has killed thousands of civilians and pushed millions more to the brink of starvation.” Kaine accused Trump of turning a blind eye to Khashoggi’s killing and the jailing of women’s rights activists in Saudi Arabia. “I hope my colleagues will show we won’t tolerate the Trump administration’s deference to Saudi Arabia at the expense of American security interests by voting to override this veto,” Kaine said. The top Republican on the House Foreign Affairs Committee, Rep. Michael McCaul of Texas, acknowledged the dire situation in Yemen for civil-

ians, but spoke out in opposition to the measure when it was passed. McCaul said it was an abuse of the War Powers Resolution and predicted it could disrupt US security cooperation agreements with more than 100 countries. David Miliband, president of the International Rescue Committee, a humanitarian aid group, said: “This veto by President Trump is morally wrong and strategically wrongheaded. It sets back the hopes for respite for the Yemeni people, and leaves the US upholding a failed strategy.” Trump issued his first veto last month on legislation related to immigration. Trump had declared a national emergency so he could use more money to construct a border wall. Congress voted to block the emergency declaration and Trump vetoed that measure. AP

Genghis Khan’s biggest fan tests Mongolia’s democracy T’S hard to escape Genghis Khan in Mongolia. The 13th century conqueror has donated his name to the capital’s airport, a hotel, a central avenue, a garden, a club, even a brewery. Yet, none evoke the spirit of autocratic power and greatness better than the shining 40-meter high (131-foot) equestrian statue of the warrior built by President Battulga Khaltmaa on the Mongolian steppes. Now, less than two years after Battulga’s election, some fear his widespread popularity and campaign to root out corruption may be moving the president’s authority closer to that of his hero at the expense of democracy, and shifting Mongolia closer to China and Russia. With support from parliament, Battulga passed a law that effectively gave him farreaching powers to dismiss judges and senior members of the nation’s legal system via his role as chairman of the National Security Council. He wasted no time in immediately removing a Supreme Court judge and the country’s highest prosecutor. The deputy general director of Mongolia’s Independent Authority Against Corruption may be next. Dressed in a trim navy suit and red tie, the president urged lawmakers in his signature gravelly voice to grant the three-member security council authority to remove those who “are part of a conspiracy system that shields the illegal activities” of “political-economic interest groups.” Anti-corruption group Transparency International and human rights organizations including Amnesty International say the move is an erosion of the country’s democratic values. “There won’t be enough checks and balances,” said Badamragchaa Purevdorj, justice program manager at the Open Society Forum in Ulaanbaatar. But voters have become angered by successive governments’ failure to deal with issues such as air pollution and widening income disparity. And Battulga’s tough-guy image and populist campaign to attack corruption have given him widespread popularity.

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Putin in Vladivostok in September, Battulga said relations with Russia were a priority for Mongolia. The Mongolian president’s advantage is that his political support at home cuts across parties. While the heads of some of the world’s leading democratic countries may be having trouble winning support from polarized parliaments, Battulga has no such problems. His popular support and promise to battle graft have given him a strong position in a parliament that has been embattled by months of protests over corruption. Thousands of Mongolians gathered in the capital in temperatures 20 degrees below zero in January to protest against political elites that are popularly called Manan, Mongolian for fog, a word created by meshing the acronyms for the two main political parties. Battulga, a vocal critic of oligarchs and elites he accuses of pulling the strings in the government, appeals to many voters because of his image as a tough-guy outsider, independent of a tainted political system. “I respect him because he’s one of us, one of the ordinary citizens” He is a self-made millionaire and a martial

arts champion, who competed in Russian sambo wrestling. As the former head of the Mongolian Judo Association, he led the country’s judo team to take the nation’s first Olympic gold medal during the 2008 Beijing Games. Despite his wealth and fame, Battulga has won over the public as a man of the people. “I respect him because he’s one of us, one of the ordinary citizens,” said Narantsetseg Batkhuu, 53, a Democratic party supporter who was protesting near the Government Palace at another demonstration on April 10. The president’s own Democratic Party has only nine seats in the 76-seat legislature, the State Great Hural, after suffering a huge defeat in the last election. But the motion to extend the National Security Council’s powers was supported by many first-time lawmakers elected in 2016, and the bill passed with 85 percent in favor. “The new MPs are not corrupted,” said Ganbaatar Jambal, a member of the majority Mongolian People’s Party, who voted for the bill. He said the president didn’t directly push the policy on politicians, but “their ideas crossed.” Notably, the other two members of the security council are Prime Minister Khurelsukh Ukhnaa and the influential speaker of parliament, Zandanshatar Gombojav, both from the majority Mongolian People’s Party. In Mongolia, the prime minister holds executive power, with the president having right of veto and judicial appointment powers, as well as being head of the nation’s armed forces. But presidents over the past decade have increased their influence, raising concern the office is beginning to rival that of the premier. “They are one team now,” said Naranjargal Khashkhuu, president of Globe International, a Mongolian NGO that promotes freedom of expression. “It’s very frustrating. It’s also a test of Mongolia’s democracy.” Naranjargal criticized elected officials for hastily passing a law before accepting any input from voters. She argued that the amendment is unconstitutional and hopes that a case will eventually come before the Constitutional Court

to strike it down. A statement from the President’s Office said concerns about sweeping powers were overstated. “The only change is when the National Security Council issues a recommendation on the temporary suspension of judges,” until deliberated on and fulfilled by a judicial council, the statement said. In making his case for the rule change, Battulga cited accusations of torture to convict suspects in the assassination of a former politician in 1998 and concern about the purchase of 49-percent stake in the Erdenet copper mine. The president’s proposed legislation passed just 48 hours after introducing it and took effect immediately. Enforcement normally begins only after laws are published in a state periodical. That rattled some parliamentarians, including some of Battulga’s own party, who were among the few who voted against the motion. “The Democratic Party is against the expanding of the power of the president,” said Sukhbaatar Tsedenjav, the party’s secretary for foreign relations and cooperation. “We are for improving and strengthening the parliamentary system.” Sukhbaatar said the law’s passage was a symptom of Mongolians’ loss of faith in democracy. “There are more and more voices inside Mongolia preferring authoritarian rule, like in Russia, like China,” he said. That’s not surprising. Mongolia’s short-lived mining boom in 20102013, ended when commodity prices fell and disputes between the government and foreign mining companies curtailed investment, forcing the country to be bailed out by the International Monetary Fund in 2017. A shift in power could further complicate investments in the country, especially for mining companies as new and old deals come under increased scrutiny. The nation’s largest foreigninvestment project, Rio Tinto Group’s Oyu Tolgoi copper and gold mine, is already embroiled in a corruption investigation involving the former finance minister responsible for signing the deal in 2009. Bloomberg News

AMALLAH, West Bank—The new Palestinian prime minister on Tuesday accused the United States of declaring “financial war” on his people and said an American peace plan purported to be in the works will be “born dead.” In his first interview with international media since taking office over the weekend, Mohammad Shtayyeh laid out plans to get through the financial crisis he has inherited and predicted that the international community, including US allies in the Arab world, would join the Palestinians in rejecting President Donald J. Trump’s expected peace plan. “There are no partners in Palestine for Trump. There are no Arab partners for Trump and there are no European partners for Trump,” Shtayyeh said during a wide-ranging hour-long interview. Shtayyeh, a British-educated economist, takes office as the Palestinian Authority, which administers autonomous zones in the Israeli-occupied West Bank, is mired in a financial crisis. The Trump administration has slashed hundreds of millions of dollars of aid, including all of its support for the UN agency for Palestinian refugees. Israel has meanwhile withheld tens of millions of dollars of tax transfers to punish the Palestinians for their “martyrs’ fund,” a program that provides stipends to the families of Palestinians imprisoned or killed as a result of fighting with Israel. The Israelis say the fund rewards violence, while the Palestinians say the payments are a national duty to families affected by decades of violence. Furious about the withholding, the Palestinians have, in turn, refused to accept partial tax transfers from Israel. Without its key sources of revenue, the Palestinian Authority has begun paying only half salaries to tens of thousands of civil servants, reduced services and increased borrowing. In a news report released on Wednesday, the World Bank said the Palestinian deficit will grow from $400 million last year to over $1 billion this year. “Israel is part of the financial war that has been declared upon us by the United States. The whole system is to try to push us to surrender” and agree to an unacceptable peace proposal, Shtayyeh said. “This a financial blackmail, which we reject.” Shtayyeh laid out a number of proposals for weathering the storm. He said he has imposed spending cuts by reducing perks for his Cabinet ministers. He said he would seek to develop the Palestinian agricultural, economic and education sectors, and seek ways to reduce the Palestinian economy’s dependence on Israel. For example, he proposed importing fuel from neighboring Jordan, instead of from Israel, and even floating a Palestinian currency. He also said the Palestinians would seek financial backing from Arab and European donors. Despite the tensions with Israel and the US, Shtayyeh said the Palestinians remain committed to the establishment of an independent Palestinian state on areas captured by Israel in the 1967 war. That includes establishing a capital in east Jerusalem, which Israel has annexed and claims as part of its eternal capital. The two-state solution has enjoyed overwhelming international support for the past two decades. But Israeli Prime Minister Benjamin Netanyahu and his hardline political allies reject Palestinian independence. Netanyahu secured another term in office in elections last week and is expected to form a new coalition with religious and nationalist parties that oppose the two-state solution. On the campaign trail, Netanyahu even raised the possibility of annexing Israeli settlements in the West Bank, a step that could extinguish any remaining hopes for an independent Palestine. AP

Agriculture/Commodities BusinessMirror

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Editor: Jennifer A. Ng • Thursday-Sunday, April 18-21, 2019

Traders slam DA bid to limit meat imports By Jasper Emmanuel Y. Arcalas

@jearcalas

HE government should give local producers more support instead of adopting protectionist measures, such as limiting imports, to avert oversupply, according to the Meat Importers and Traders Association (Mita). Mita President Jesus C. Cham told the BusinessMirror that the government should stay out of commercial issues related to the country’s meat industry as competition is good for consumers.

“The [Department of Agriculture or DA] should adopt a supportive policy than adopt a protectionist stance. There should be free competition,” Cham said in an interview on Tuesday.

“The government should set up supportive programs for local producers so they can be efficient and productive. They have to move way from adopting a protectionist stance,” he added. Cham said support programs to local livestock and poultry producers could include tax breaks, and lowering the cost of power and raw materials, such as animal feeds. The Mita official said the increase in meat imports could indicate that some consumers are purchasing low-cost items as they could not afford locally produced meat. These low-cost items include processed meat products that make use of imported mechanically deboned meat (MDM) as raw material. “The majority of our imports

are for low-cost items that are consumed by lower economic classes. It just tells us that the lower economic classes cannot afford to buy local meat,” Cham said. He added that 20 percent of meat products consumed by Filipinos are imported. Cham issued the statement after Agriculture Secretary Emmanuel F. Piñol announced that the DA would “rationalize” the country’s meat industry, which may include limiting imports to ensure that supply will not exceed demand, as a glut could harm local hog and poultry raisers. The DA’s rationalization program includes the conduct of a study on what will determine the local market’s absorptive capacity in relation to total meat supply, he added.

The rationalization program was agreed upon by the government and sta keholders af ter farm-gate prices of chicken and pork exhibited an erratic trend in recent months. Piñol said the program will determine how much meat will be produced in certain periods in relation to market demand and imported. “If we do not do this, everyone will be hurt.” “We will have to make sure that there is a corresponding withdrawal from the cold storage and make sure that the volume of imports would not go beyond what the market could absorb at any given time,” he added. Citing National Meat Inspection Service data, Piñol said there are about 27.805 million kilo-

grams of chicken currently stored in cold storages and 34.33 million kilograms of pork, which is good for about three months. The rationalization of the meat industry could take place after Holy Week, he said, as the DA engages a professional research group to undertake the study on the meat supply and demand situation. Piñol said he will meet with meat importers and even processors next week to discuss the rationalization program and get their recommendations on the matter. “[T he rat iona l i zat ion pro gram] will be a stakeholder-based decision. Nobody will be disadvantaged here; everybody will be involved in the decision-making,” he said.

NFA confident of hitting palay PHL banana sector badly in need procurement goal for 2019 of reliable production data–PBGEA T L OCAL planters and exporters appealed to the government to come up with reliable data on the country’s banana supply so that the Philippines could maintain its status as one of the world’s top suppliers of the tropical fruit. Pilipino Banana Growers and Exporters Association (PBGEA) said overstated or understated figures related to the country’s production and shipments send the wrong message to the country’s trade partners. PBGEA Executive Director Stephen A. Antig recalled instances in the past when foreign buyers thought Philippine suppliers were just hoarding bananas as they were unable to fill up orders from abroad. In reality, Antig said, the sector at the time did not have enough supply, contrary to the figures being projected by government data to the public. “We are appealing to the government to focus more on the generation of reliable data so that we will not be embarrassing to our trade partners,” Antig told the BusinessMirror on Wednesday. “A lot of our customers and partners are complaining that the data being generated by the government, even by the Philippine Statistics Authority [PSA], is not accurate,” he added.

‘Discrepancies’

ANTIG said his group has already observed the discrepancies in the government’s data 20 years ago. He said the most accurate data on the country’s banana shipments would be the one generated by the Bureau of Customs. The production figures of the PSA, Antig noted, could be overstated as the current average output per hectare is around 3,200 to 3,500 boxes. Small banana growers could only produce 1,800 boxes per hectare.

FILE PHOTO

Data from the PSA indicated, however, that the country’s banana output per hectare averages 4,000 boxes (See, “Data gaps imperil PHL’s reputation as one of top banana growers,” in the BusinessMirror, March 30, 2019). Antig said the discrepancies in official Philippine data could only be resolved by the government. “As far as government data is concerned, we have been talking about it for a long time now. And we do not see any concrete steps on how to possibly improve this,” he said.

Partnership

NONETHELESS, Antig said his group is planning to partner with academe, such as the University of Asia and the Pacific, to come up with accurate industry data on banana supply. He said the banana sector has long been planning to do this, but the idea had to take a backseat as growers and traders had to focus on more urgent industry issues, such as the spread of Fusarium wilt and stiff competition from other exporters. “It [having inaccurate data] is

worse than the impact of Fusarium wilt. We could not do anything about Fusarium wilt because it is caused by nature, but unreliable data or figures is man-made and can be corrected,” Antig said. He also pushed for the disaggregation of data on banana varieties being shipped by the Philippines so the industry and the government could properly monitor production and exports. Aside from Cavendish, Antig said the Philippines is also now exporting saba cardava, señorita and other varieties.

Urgent concern

THE PBGEA official said coming up with accurate data is a “more urgent” concern for the industry as the international market has already taken notice of the issue. “It is embarrassing, it is just embarrassing. We just really need to have the proper data set. We do not know if we are doing well or not. It’s like you’re living in a dream that we are fine, but in fact, we might be dying already,” he said.

Antig said international news site The Reefer Trends had picked up the BusinessMirror’s story on government data on the banana industry. “In times where reliable trade data should be a given, the scale of the inaccuracies or discrepancies in official Filipino banana export statistics beggars belief,” read The Reefer Brief, a copy of which was provided by the PBGEA and The Reefer Trends. “It’s not only a source of national embarrassment, but the failure to provide an objective, accurate measurement of volumes also means there can be no effective management of the sector,” it added. Established in 2003, Reefer Trends provides weekly market briefs on reefer business to at least 200 paying subscriber-companies from 34 countries, according to its web site. It also circulates its reports within the European Commission and the World Trade Organization. The company comes up with a weekly report covering developments in the global fruit, banana and logistics industries. Jasper Emmanuel Y. Arcalas

HE National Food Authority (NFA) said it is confident of hitting its paddy rice procurement goal of 14.46 million bags, or 723,000 metric tons (MT), this year after its purchases as of April 15 breached the 2-million mark. The food agency reported on Wednesday that its “palay-buying spree” resulted in the procurement of 2.12 million bags, or 106,000 MT, as of April 15. Of that volume, the NFA said 845,891 bags were bought in April, almost two-thirds of the 1.26 million bags the NFA bought in the first quarter. NFA OIC-Administrator Tomas R. Escarez said he is positive that the agency will be able to achieve its goal to procure sufficient palay volume for buffer stocking as this year’s purchases are already much higher than in recent years. The NFA said it is currently buying palay from farmers at an average of 73,233 bags, or 3,661.65 MT per day. “More farmers are selling to NFA because we have increased our effective buying price. The NFA started implementing an additional P3 per kilogram Buffer Stocking Incentive [BSI] last October 2018, in addition to the prev ious P0.20/ k i log ram drying, P0.20/kg delivery and P0.30/kg Cooperative Development Incentive Fee,” Escarez said in a statement. “ T he incentives effectively increased the agenc y’s ma ximu m buy i ng pr ice for pa l ay from P17.40/kg for individual farmers and P17.70 for members of farmer cooperatives/organizations, to P20.40/kg and P20.70 per kg , respectively,” he added.

According to the Philippine Statistics Authority (PSA), the average farm-gate price of palay continues to decline. PSA records show that average palay farm-gate price has gone down to P18.87/ kg as of April 5, from P18.96/kg in March. Figures from the NFA showed that the highest volume of palay procurement in April were reported by its provincial offices in Nueva Ecija (114,166 bags); Occidental Mindoro (112,665 bags); Isabela (100,566 bags); Bulacan (74,770 bags); Northwester n Cagayan-Apayao (63,805 bags); Mamburao (39,693 bags); Tarlac (29,501 bags); Cagayan (2 2 ,478 b a g s); Nor t h C ot a bato (19,691 bags); and Ilocos Norte (19,389 bags). Escarez said the agency has shifted its focus to more aggressive palay procurement after the signing of the rice trade liberalization law or Republic Act (RA) 11203 and the subsequent signing of its implementing rules and regulations (IRR). “Based on the IRR, the NFA must now adopt a policy of maintaining a buffer stock equivalent to 15 to 30 days of the countr y’s nationa l r ice consump tion, sourced from local farmers only. To be able to meet that, we have to buy around 15 million to 30 million bags of palay,” he said. Prior to the implementation of RA 11203, the NFA had initially targeted the procurement of 7.78 million bags of palay, or 389,000 MT, for this year. The NFA has stopped exercising regulatory functions over international and domestic rice starting March 5, when the new rice trade law took effect.

Brighter India monsoon outlook brings cheer in election year

NDIA’S forecast of plentiful rain during this year’s monsoon may come as a relief to its farmers, as well as Prime Minister Narendra Modi, who’s seeking a second term in office in national elections currently under way. Annual rainfall during the JuneSeptember rainy season, which waters more than half of the country’s farmland and is crucial for economic growth, is likely to be 96 percent of the long-term average, Madhavan Nair Rajeevan, secretary of the Ministry of Earth Sciences, told reporters. That means the monsoon will help fill reservoirs and irrigate crops, critical for the country’s agriculture. Modi is fighting elections against a backdrop of plunging crop prices and an irate farming community, which his government has sought to placate by raising purchase prices for crops and cash handouts. A good

monsoon is critical to India—the world’s second-biggest producer of rice, wheat and cotton—as it shapes the livelihood of millions of farmers, influences food prices and possibly voter sentiment. “If you get a good monsoon this year, it’s a bumper for the economy,” Indranil Pan, chief economist at Mumbai-based IDFC Bank Ltd., said by phone. “The farm sector has been struggling in terms of the overall distress scenario. From that perspective, food prices may not pick up, but on the other side it assures India of good agricultural production.”

Economic outlook

STILL, the monsoon’s benefits aren’t always clear cut. Ironically, a bumper crop aided by good rains in recent years have suppressed prices for farmers as India lacks proper storage facilities, leading to rural distress.

Nevertheless, this year’s monsoon prediction may boost overall sentiment and improve the economy’s growth outlook. A drop in food prices helped keep inflation in check and prompted the central bank to deliver back-to-back rate cuts to boost growth in the election year. Consumer food inflation at 0.14 percent for 2018-19 is the lowest since at least since 1991, according to Dharmakirti Joshi, chief economist with Crisil Ltd. “A near-normal monsoon sounds like good music to the ears,” said Atul Chaturvedi, president of the Solvent Extractors’ Association of India, a group of oilseed processors. “It will be important to see the spread of showers in the country, specifically in the areas that are facing a drought-like situation.” The weather office said that overall, the country is expected to have well distributed rainfall dur-

ing the 2019 monsoon season, which will be beneficial to farmers. Last year’s monsoon rainfall was 91 percent of the long-term average, falling under the IMD’s definition of a below-normal monsoon and missing forecasts for normal rains for a second year. The department will update on the monsoon forecast in the first week of June.

Weak El Niño

THE weather department’s estimate compares with a prediction for rainfall to be 93 percent of the long-term average by Skymet Weather Services Pvt., which said this month that the El Niño weather pattern may impact rain. The private forecaster put the chance of below-normal showers at 55 percent and saw a 30-percent possibility of a normal monsoon. While climate models forecast El Niño-like ocean temperatures

AUTO-RICKSHAWS travel through heavy rain in the suburb of Bandra in Mumbai, India, on July 10, 2018. The monsoon is the lifeline of Asia’s third-largest economy as about 800 million of the 1.3 billion population depend directly or indirectly on farming. KAREN DIAS/BLOOMBERG

during May, most models indicate a cooling through winter, which indicates that if it does develop it

is likely to be short-lived and weak, according to Australia’s Bureau of Meteorology. Bloomberg News

B8 Thursday-Sunday, April 18-21, 2019

NOVOTEL ARANETA PRESENTS ‘CURATED MEMORIES: A WEDDING STORY’ STRENGTHENING FILIPINO COMMUNITY THROUGH SOCIALIZED HOUSING

HE National Home Mortgage Finance Corp. (NHMFC) recently held the first of its threeleg 2019 regional stakeholders’ forum in Baguio City, attended by various local developers, cooperatives and stakeholders coming from the different provinces of Luzon. With the theme “Everybody Deserves a Home and It Should Never Take Too Long”, the event encourages participation of the government’s various housing programs to reduce the gap in affordable housing. “One of the things that should make the people residing in the Cordillera Administrative Region [CAR] happy is that, with the creation of the Department of Human Settlements and Urban Development [DHSUD], we [the government’s key shelter agencies (KSAs)] are now required to put up regional offices in the country, so the government can concentrate on working closely with the stakeholders and developers,” director Jeanette Cruz of the Housing and Urban Development (HUDCC) said at the event. She also encouraged the participants to send their inputs and suggestions to HUDCC on how the department can be a more effective and responsive organization. She further stressed, “[The] DHSUD will

strengthen the integration of the roles, functions, programs and services among the KSAs and the department. In effect, the turnaround time for all housing transactions will be significantly reduced.” Rodel Leocario from the NHMFC Strategic Relations and Marketing Department highlighted the corporation’s core programs: The housingloan receivables purchase program (HLRPP) and socialized housing-loan takeout of receivables (Shelter). HLRPP provides loan facilities for the middle-income sector, with loan value up to P3 million, while the Shelter targets low-income sector with loan value up to P750,000. In a separate interview with NHMFC President Dr. Felixberto U. Bustos Jr., he said that, “[The] NHMFC’s essential role is to contribute to the reduction of the housing backlog in the country by sustaining the liquidity of the housing sector, through a strengthened secondary market.” The NHMFC is the government’s primary secondary-mortgage institution. Lawyer Christopher Ryan Tan, president of the Center for Housing and Independent Research Synergies, who was among the speakers at the forum, said that this administration needs to accelerate production of houses to address the

country’s housing gap and called on everyone’s involvement. While he applauded the birth of the DHSUD, he also pointed out the need to include the stakeholders, such as the Organization of Socialized Housing Developers and other real-estate developers, in drafting the implementing rules and regulations of the newly created department. The forum also provided stakeholders the opportunity to present their different products that improve housing facilities while going proenvironment. Daniel Camacho, the local inventor of the green eco-toilet system, presented his award-winning water-conservation system; Mark Tan of Palmeco Industries, who introduced the use of PalmEco board material in building ecofriendly housing that is resistant to fire, water and termites, nontoxic and can last a decade; and Mark Son of Solar Philippines, who presented their solar products and services that will help reduce electricity costs. Also present at the event was Housing and Land Use Regulatory Board (HLURB) director lawyer Jann Roby Otero, who discussed updates on HLURB policies and guidelines. The next regional stakeholders’ forum will be held in Cebu City in June and in Davao in September.

ENTER DINO LAND AT QUEST CLARK THIS EASTER!

N April 21 Quest Plus Conference Center Clark brings an exciting Easter celebration for kids and kids at heart. Roam around with friendly dinosaurs as you hunt for Easter eggs filled with sweet treats and search for rare golden eggs to get a chance to win grand prize, an overnight stay in Quest Plus Clark’s Villa Deluxe! Plus, the best Dino-themed Easter basket gets a chance to win an overnight stay in a club deluxe room with buffet breakfast for two at Mequeni Live. Have a fun-filled family day with games and

activities like mini golf, Easter egg painting, and even an opportunity to ride the horse-drawn carriage around the verdant Filinvest Mimosa+. Snacks and loot bags filled with sweet treats are also ready for the participating kids. For just P500 per head, kids will get to enjoy all these and more. For adults, entry pass is P100. Tickets are sold at the hotel lobby and at the event’s registration booth. Registration starts at 8:30 a.m. at the Acacia Park, the perfect outdoor venue for every celebration. Developed by Filinvest, Acacia Park offers a sprawling

HROUGH the years Novotel Manila Araneta Center has witnessed memories unfold in every season. The radiance of a couple’s lifetime commitment of love—stories of their journey to forever—etched in the heart of the hotel. An inspired Novotel Manila Araneta Center, in partnership with JMG Infinity events, proudly presents “Curated Memories: A Wedding Story”, a two-day bridal fair that strings together Metro Manila’s top and trusted wedding suppliers, designers at the Versailles Event Tent on April 27 and 28. The first day will include learning sessions in wedding planning, including hair and makeup demo, styling, things to look for in wedding photo and videos, and many others. This continues on Sunday, April 28, with two elegant fashion shows to highlight the weekend. Sunday afternoon’s matinee will feature the innovation creations of over 30 of the country’s top young fashion designers of Designers’ Circle Philippines. It culminates with a grand gala night featuring iconic designer Renee Salud.

Renee is presenting his timeless signature wedding collection inspired with Filipiniana weaves and fabrics. This charity gala is a grand ball of Filipino haute couture, elegance and style celebrating the natural beauty of the Filipina. Modeled by some of Metro Manila high society, the proceeds of these creations will benefit ABS-CBN’s Bantay Bata 163. Novotel Manila Araneta Center will also unveil new design looks for its wedding packages titled “Weddings at Novotel: Seasons of Love”. “As we unveil the new looks of our wedding packages titled Seasons of Love, it is apt to also showcase the brilliant minds of young designers here in the Philippines and the much-esteemed Mama Renee Salud, who is generous enough to partner with Metro Manila’s socialites to extend the proceeds of his creations for Bantay Bata 163,” Novotel Manila Araneta Center general manager Mike Brown said. Curated Memories: A Wedding Story will run on April 27 and 28. Soon-to-wed couples may check the social-media sites of Novotel Manila Araneta Center for updates.

‘PACK YOUR BAGGINS’, TAKE YOUR LOVED ONES ON AN ADVENTURE IN NEW ZEALAND FOR FREE! natural landscape great for birthdays, receptions and company events. Dino Land Easter at Quest Plus Clark is brought to you by Impact Balibago Arts and Crafts, Reevebella Trading, Fun Ranch, Filinvest Mimosa+ Leisure City, Building Blocks International Academy, Lemon Square, Universal Robina Corp., JF Trading seafood dealer and supplier, Leslie’s Corp., The Medical City, Liwayway Marketing Corp. (Oishi), Homsprinters, Rab4Love Studios, Pascual Creamy Delights, RNCJ Design and Print, El Kabayo and SBL.

ORLD’S leading eyewear, sports apparel and accessories Oakley is taking you to Middle Earth with its Pack Your Baggins promo. Prepare for a journey at the best place to live on earth! If you’re dreaming to visit the set of the Lord of the Rings, this is now your chance. Oakley’s Pack Your Baggins promo lets you go to an all-expense-paid trip for two to New Zealand. All you have to do is to buy any regular priced Oakley eyewear and get a raffle coupon. Avail yourself of favorite Oakley eyewear to qualify for the promo, discounted items are not included. Simply fill up your raffle coupon with your name, address, mobile number and signature, then drop your entries at drop boxes on all Oakley authorized stores and dealers nationwide. Promo runs from April 1 to June 30. Get a chance to win your favorite Oakley products on the minor draw on June 29. Two winners can win an Oakley backpack and another two can win Oakley eyewear. On the final draw on July 14, four grand winners will be awarded an all-expense-paid trip for two in New Zealand, including a round-trip ticket, meals, tour trips and accommodation for two! Additional Oakley items will be given away on the grand draw! Two winners of Oakley backpacks and two winners of Oakley eyewear get their prizes, too.

When you avail yourself of favorite Oakley eyewear, not only you get a chance to travel to New Zealand, but also help a charitable organization. A certain percentage of the sales in this promotion will go to the Specs Foundation, a nonprofit organization that helps underprivileged Filipinos for their eye-care needs. They also provide longterm vision care with over 10,000 beneficiaries since their establishment in 2013. Don’t forget to share your Oakley experience using the hashtags #OakleyPh and #OneObsession on your social-media pages.

TRANSCOM COMMITS TO FIGHT H.I.V., A.I.D.S.

RANSCOM Worldwide Philippines commits to #SAVESEXY at work through a series of activities and events to help fight the stigma and misconceptions on HIV and AIDS. Since partnering with The Red Whistle in January, Transcom has brought HIV counselors and motivators to its Manila sites to run HIV101, blood testing and counseling sessions. The activities aim to educate employees and encourage them to have their blood checked for antibody reaction to HIV. At least 740 Transcom Philippines employees have gone through HIV testing with Mark Lyndsell, Transcom chief executive officer for global English region, being the first client. “As a leader, I cannot just be an idle bystander knowing that somebody in my organization in the 21st century died due to HIV/AIDS because of ignorance, stigma and a lack of support,” Lyndsell says. “We, in the Transcom team, decided that we have to do something about this, and no one needs to die in 2019 because of

HIV and AIDS. We want to make sure that our employees are aware of their HIV status. Should they be tested reactive, we would ensure that they are immediately treated or linked to care.” In the HIV101 sessions, The Red Whistle counselors JF Escobañez and Bill Cosare describe being sexy as not just having the best and most attractive body. “Regardless of body type, gender, age or sexual orientation, being sexy is being confident about yourself, being conscious about your overall wellness, and being comfortable to talk about risks to one’s sexual health. Knowing your HIV status is also being sexy,” Escobañez clarifies. Ben Bernabe, president of The Red Whistle, explains how the project #SAVESEXY was coined. “We all hear these advocacies to save endangered species—save the eagle, save the whale, etc. #SAVESEXY is our call to save humans from being endangered because of AIDS.” Transcom is the first contact-center company to partner with The Red Whistle, a non-governmental organization advocating for education on HIV and eradication of AIDS.

By Stephen Wade The Associated Press

OKYO—For fans, athletes and volunteers, next year’s Tokyo Olympics could become known as the get-up-early games. Hoping to beat the summer heat in the Japanese capital, organizers said on Tuesday that they will start the men’s 50-kilometer race walk final at 5:30 a.m. The men’s and women’s marathon finals go at 6 a.m. Marathon swimming will kick off at 7 a.m., and the men’s and women’s triathlon start at 7:30 a.m. Even women’s softball has some games scheduled for 9 a.m. No men’s baseball games will start before noon. “Nine a.m. is early, that’s my impression,” said Reika Utsugi, the head coach of Japan’s women softball team, speaking through an interpreter. “But we will have one year for the preparation. Softball cannot decide the times.” Softball and baseball were dropped after the 2008 Olympics, and are appearing because of the sports’ popularity in Japan. The 1964 Tokyo Olympics were held in the fall and did not face heat problems. But modern Olympics can no longer be held in that timeframe, needing to avoid Europe’s crowded soccer schedule, and year-round scheduling of the big four sports in the United States— football, baseball, basketball and hockey. Koji Murofushi, the sports director of the Tokyo Games and a Japanese Olympic gold medalist, said organizers had consulted about the schedule with the International Olympic Committee (IOC), the governing bodies of the sports, and athletes and medical experts. He said athletes can adapt. “When we look at the Olympic games as a whole, of course we need to consider the global audience and adjust and control the overall schedule,” Murofushi said, speaking through an interpreter. “Athletes, when they know the schedule in advance, can make an adjustment to prepare.” As previously announced, the swimming finals will begin at 10:30 a.m. The swim schedule has nothing to

GET-UP-EARLY TOKYO GAMES do with the heat and will follow the pattern of the 2008 Beijing Olympics. The morning schedule in Asia allows North American television to telecast the finals live in prime time in the evening. American broadcaster NBC in 2011 agreed to pay the IOC $4.38 billion for TV rights through the 2020 Games. It later agreed to an extension through the 2032 Olympics, paying the IOC an added $7.75 billion. Organizers say the first gold-medal event will be the women’s 10-meter air rifle, which will take place on July 25—the day after the opening ceremony. Organizers have labeled August 8— the day before the closing ceremony—as “Super Saturday” with about 30 finals, the most of any single day. Finals will include men’s basketball, men’s soccer and men’s baseball. The most difficult event to schedule might be surfing, which was added to the Tokyo Olympics. Organizers have blocked out eight days for the event, hoping surf’s up for at least four of them. It’s a four-day event. “The competition schedule is subjected to change depending on the wave conditions,” organizers said.

Sports BusinessMirror

BASKETBALL CUTS 2 GAMES

THE Olympic basketball tournament has been shortened for the 2020 Tokyo Games to cut the number of group matches from five to three for each team. The International Basketball Federation (Fiba) says the new format will feature three four-team groups in both the men’s and women’s tournament. The top two teams in each group are joined in the quarterfinals by the two best third-place teams. At the 2016 Rio de Janeiro Olympics—where the US won both gold medals—teams were drawn in two groups of six, and so played five games in the first phase before entering the knockout bracket. Fiba says the new format is “bringing additional interest to every game of the tournament already from the group phase.” The wrestling tournament, meanwhile, will end with a women’s freestyle gold-medal match during six of the seven days of competition in various weight classes. The Tokyo Organizing Committee announced the move on Tuesday, saying it will help ensure “high

| Thursday-Sunday, April 18-21, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

JAPAN men’s judo Head Coach Kosei Inoue (left) is joined by his women’s softball counterpart Reika Utsugi (center) and Tokyo 2020 Sports Director Koji Murofushi at a press conference to unveil the detailed Olympic competition schedule in Tokyo. AP

attendance” for each day of the tournament. The International Olympic Committee will likely appreciate the move, after it briefly booted the sport in 2013 in part because of concerns over gender equity. Japan has been the dominant nation in women’s wrestling since it started at the 2004 Athens

Olympics. The Japanese have won 11 of the 18 gold medals at the last three Olympics. United World Wrestling President Nenad Lalovic noted the good crowds at the 2016 Rio Games and expects this schedule “will help us reach even more fans and create a positive and energetic environment

MARINE CRAWLS FOR FALLEN COMRADES A

MICAH HERNDON crawls to the finish line as Lawrence Cherono and Lelisa Desisa engage in a sprint. AP

MARINE veteran said all he was thinking about as he crawled to the finish of the Boston Marathon was the men who died after an attack on their convoy in Afghanistan nine years ago. Their names were written on his hand, his shoes and his race bib. They were the inspiration, Micah Herndon said, when he first started running to escape the horrors of war. Herndon said he never considered giving up even when his legs started giving out about 6 kilometers from the end of the race on Monday. “That was the longest 4.2 miles I’ve ever run in my life,” said Herndon, who’s from Tallmadge, Ohio. He said his military training kicked in when he dropped to his hands and knees and crawled, at times pulling himself on his stomach, for the final 100 yards (91 meters). “It was kind of second nature,” he said on Tuesday, a day after finishing his third marathon. “They instill ‘adapt and

for all our competitors.” The Greco-Roman discipline will begin August 2, followed by women’s and men’s freestyle. Women don’t wrestle Greco-Roman. United World Wrestling is the international governing body, headquartered in Switzerland.

overcome.’ Any situation you’re in, that’s what you do.” During the marathon, Herndon, 31, said he repeated the names of three men—Marines Mark Juarez and Matthew Ballard, and British journalist Rupert Hamer—mile after mile. Juarez and Hamer were killed when a roadside bomb exploded in January 2010. Ballard, who was severely injured, died after returning home. Herndon was in that convoy, but his vehicle wasn’t hit. Repeating their names is something Herndon does when he’s training or competing in a race, even when he gets strange looks from other runners. Herndon, who was injured in another blast in 2010, got into running after coming home as a way to deal with posttraumatic stress. He hopes he can inspire other veterans. “It’s hard to reintegrate into society and be a civilian,” he said. “My message to other veterans is to find whatever your release is. My release happens to be running.” When Boston Marathon turned into a sprint, Cherono was ready.

CHERONO READY FOR SPRINT

SOMETIMES a race is both a marathon and a sprint. Lawrence Cherono paced himself for 26 miles from Hopkinton to Boston, making the turn from Hereford Street for the last 600 meters on Boylston shoulder-to-shoulder with two other runners. From there, it was a footrace. “I’ve never run on the track before,” the 30-year-old Kenyan said on Tuesday after picking up a check for $150,000 as the winner of the 123rd Boston Marathon. “To me, it was a lesson. I never lost hope.” A six-time marathon winner, Cherono was the fastest man in the field by virtue of his victory in Amsterdam last fall in two hours, four minutes and six seconds. That speed came in handy on Monday when the pack ran faster in the second half than the first, and Cherono completed the final mile in 4:29 to get to the tape before two-time Boston winner Lelisa Desisa. In fact, at the 30K checkpoint, there were still a dozen runners in the lead pack, including three of the last four champions: Desisa, who won in 2013 and ‘15, Geoffrey Kirui (‘16) and Lemi Berhanu Hayle (‘17). “I was not thinking of what they did last year,” Cherono said. “I was running my own race.” Cherono finished in 2:07.57, the fastest winning time in Boston since Geoffrey Mutai’s 2:03.02 set a course record and a world best. Desisa slowed up, grimacing in agony, and finished two seconds behind. Worknesh Degefa won the women’s race in 2:23.31 after pulling away from the pack in the outer suburbs and running alone for more than 20 miles. “This is going to change my life,” she said on Tuesday. “This marathon throws me onto the world stage. Winning the Boston Marathon is everything.” A year after dealing with some of the foulest weather New England has to offer—temperatures in the mid-30s, an icy rain and near-gale headwinds—organizers lucked into a pretty nice day. Temperatures were in the high 50s at the start, and the rain held off until late in the afternoon. That led to some new challenges. Forecasts of cold and rain forced the Boston Athletic Association to prepare again for the worst, and heavy rains and lightning overnight led organizers to delay some of the buses shuttling runners out to the start. An early-morning military march was delayed for 90 minutes, but had the lightning continued, the whole race could have been canceled. AP

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C2 Thursday-Sunday, April 18-21, 2019 By Doug Ferguson

RAPTORS BOUNCE BACK TORONTO’S Kawhi Leonard (2) scores on a lay-up against Orlando’s Nikola Vucevic. AP

ORONTO—Kept off the scoreboard in a Game One defeat, Toronto Raptors guard Kyle Lowry was “at his finest” in Game Two, at least in the eyes of Coach Nick Nurse. Fellow All-Star Kawhi Leonard wasn’t too bad, either. Leonard scored 37 points, Lowry bounced back with 22 and the Raptors routed the Orlando Magic, 111-82, on Tuesday night, evening their Eastern Conference first-round series at one win apiece. Pascal Siakam had 19 points and 10 rebounds for the Raptors, who never trailed and led by as many as 34. Game Three is on Friday night in Orlando. Leonard said Lowry “led us in intensity,” helping the East’s No. 2 seed avoid a 2-0 hole. “He did a great job of bouncing back,” Leonard said. “He’s a pro. That’s what pros do, they know it’s just one game, and they come in the next game ready to play.” Lowry, who missed all seven attempts in Game One, shot 8 for 13 and led his team with seven assists. “He was big time tonight,” Nurse said. “That’s him at his finest.” Siakam said Lowry was visibly more tuned in

on Tuesday than he was on Saturday. “From the jump he had that fire in his eyes,” Siakam said. “That’s the Kyle we know.” Despite playing in foul trouble for much of the night, Leonard finished with a career playoff-high 15 field goals. He made his first nine attempts from inside the arc before missing a lay-up. Leonard shot 15 for 22 before leaving to a standing ovation with 4:46 remaining and Toronto ahead 104-73. “Leonard was great,” Magic Coach Steve Clifford said. “What are you going to do? He was great.” Leonard’s career playoff high is 43, set with San Antonio against Memphis on April 22, 2017. He made 14 baskets in that game. “Tonight he was just in a groove, getting downhill, getting to his spots,” Lowry said. “He’s a player who knows where he wants to be on the floor, and when he gets to those spots, he’s pretty tough to guard.” Aaron Gordon scored 20 points, Terrence Ross had 15 and Evan Fournier 10 for the Magic, who won the opener 104-101 on a tiebreaking 3 by DJ Augustin with 4.2 seconds to go. Nikola Vucevic, who shot 3 for 14 in Game

Golovkin to return in June at Madison against Rolls

EW YORK—Gennady Golovkin will fight for the first time since losing to Canelo Alvarez when he meets Canadian Steve Rolls on June 8 at Madison Square Garden. Golovkin (38-1-1, 34 KOs) has been out of action since Alvarez edged him in their rematch last September in Las Vegas. The longtime middleweight champion eventually followed Alvarez in signing with sports streaming service DAZN, setting up the possibility of a third bout between them. First, Golovkin will have to get by Rolls (19-0, 10 KOs) in a fight that was announced on Tuesday. The 12-round bout will be held at a maximum of 164 pounds, above the middleweight limit of 160 where Golovkin made a record 20 consecutive title defenses. It will be the Kazakhstani fighter’s sixth time headlining at Madison Square Garden, which a week earlier is scheduled to host heavyweight champion Anthony Joshua’s defense against Jarrell Miller. Both cards will be streamed on DAZN. One of two brothers who said Jussie Smollett paid them to help him stage a racist, anti-gay attack against himself, meanwhile, has won an amateur boxing title in Chicago. The Chicago Tribune reports that Abimbola “Abel” Osundairo became a Chicago Golden Gloves champion with a technical knockout on Friday night at a stadium in the Chicago suburb of Cicero. Osundairo won the senior novice division at the 178-pound limit. Police say Osundairo and his brother told investigators in February that the Empire actor paid

them to help orchestrate a January 29 attack in downtown Chicago because he was unhappy with his pay on the Fox TV show and was looking to promote his career. Police have said the brothers are bodybuilders and aspiring actors who knew Smollett. Their testimony led to criminal charges against Smollett, which were dropped in March. Smollett maintains the attack was real. In Houston, authorities said an accidental fire in a garage at the Texas home of former heavyweight boxing champion George Foreman damaged the garage and several vehicles, but caused no injuries. A spokeswoman for the Harris County Fire Marshal’s Office, Rachel Moreno, says the Sunday night blaze didn’t spread beyond the garage. She says smoke and water damaged some of the approximately 40 vehicles inside. Moreno said the fire started on a golf cart. Foreman later tweeted, “Don’t worry all is well.” He thanked firefighters who responded to the home in Huffman, an unincorporated community in the Houston area. The fire comes just more than a month after Foreman’s daughter, Freeda Foreman, was found dead in her home in suburban Houston. AP

GOLOVKIN

One, struggled again in Game Two, going 3 of 7 and scoring six points. “They did a good job taking away a lot of my strengths,” Vucevic said. “I’ve just got to figure out a way to be more aggressive, be more efficient offensively.” Augustin, who had 25 points on Saturday, shot 1 for 6. Seven of his nine points came at the free-throw line. Orlando didn’t score for almost five minutes to start the game, missing its first six shots and four straight free throws. The drought ended when Gordon rebounded and scored on Vucevic’s miss from the line at 7:14 of the first, answering an 11-0 Toronto run. Leonard scored 12 points in the opening quarter as the Raptors led 26-18 after one. “Their defense set the tone for the game in the first quarter,” Clifford said. Lowry scored 11 points in the second and Siakam added six, putting Toronto up 51-39 at halftime. Orlando shot 13 for 40 in the opening two quarters. Leonard connected of seven of nine attempts in the third, scoring 17 points. The Raptors outscored the Magic 39-27 to take a 90-66 lead into the fourth.

The Associated Press

“At halftime, I thought we had settled down,” Clifford said. “Then, at the beginning of the third quarter, they were good and, frankly, we were awful.” Jamal Murray missed his first eight shots before a scorching fourth quarter in which he scored 21 of his 24 points, leading Denver past San Antonio, 114-105, and knotting their playoff series at a game apiece. The Nuggets were in danger of losing a second straight game at the Pepsi Center after posting the National Basketball Association’s best home record (34-7) during the regular season. They trailed 78-59 late in the third quarter before closing the game on a 55-27 run. The series shifts to San Antonio, where the Nuggets haven’t won since 2012, for Game Three on Thursday night. Paul Millsap added 20 points for Denver, and Nikola Jokic just missed his second tripledouble of the series, scoring 21 points, pulling down 13 rebounds and dishing out eight assists. The Spurs got 31 points from DeMar DeRozan, 24 from LaMarcus Aldridge and 17 from Derrick White. AP

UGUSTA, Georgia—The player who takes the fewest strokes might not win the Tour Championship because of the radical scoring change for the FedEx Cup in which the top seed will start at 10-under par with a two-shot advantage. The Professional Golfers’ Association (PGA) Tour will continue to keep a traditional score, even if it won’t be published, so that world ranking points can be awarded. The Official World Golf Ranking board met last week at the Masters and approved a PGA Tour proposal that awards full ranking points based on where players would have finished without the staggered start. The No. 1 seed in the FedEx Cup starts the tournament at 10 under, with the No. 2 seed at eight under, and then seven under, six under and five under. The next five players start at four under, all the way down until Nos. 26 through 30 begin at even par. Last year at East Lake, Tiger Woods won the Tour Championship at 11-under par, and Justin Rose, who finished tied for fourth at six under, won the FedEx Cup and the $10-million bonus. Under the new system, Woods would have started at two under as the 20th seed, and thus finished at 13 under. Instead of winning and getting 62 ranking points, he would have finished second. Rose was at six under, but he would have started at eight under as the No. 2 seed and finished at 14 under. The world ranking could not have given Rose points for “winning” when his real score had him tied for fourth. The Tour Championship has such a strong field that not awarding ranking points could have cost players endorsement money, because most contracts have an incentive tied to the world ranking. It’s even more critical now because of how tight it is at the top. Brooks Koepka finished the year at No. 1 by an average of 0.02 points. Already this year, there have been four changes at the top of the ranking among Dustin Johnson, Koepka and Rose.

TIGER AND SAM

TIGER WOODS officially resumed his chase of Jack Nicklaus and his 18 professional majors when he won the Masters for his 15th major title, and his first in nearly 11 years since the 2008 US Open. His better chance is a race no less prestigious—Sam Snead and his record 82 career PGA Tour victories. The PGA Tour already has begun preparing for such a moment by publishing “Tiger Woods, Chasing 82” on its web site. Along with a look at various segments in Woods’s career— when he held all four majors, through swing changes, returning from various injuries— the tour goes deep in explaining how Snead reached 82 victories. He was once credited with 84 and then his total was reduced to 81, before the British Open was added.

NOVAK DJOKOVIC: It just didn’t feel so comfortable serving today.

MIGUEL TABUENA aims for a big rebound coming off an injury.

DJOKOVIC LABORS IN MONTE CARLO M ONACO—Two-time champion Novak Djokovic struggled with his serve at times but reached the third round of the Monte Carlo Masters with a scrappy 6-3, 4-6, 6-4 win over Philipp Kohlschreiber on Tuesday. Djokovic double-faulted eight times and needed five match points to beat Kohlschreiber, who lost eight of their previous 10 matches but secured a rare win in the third round at Indian Wells last month. He caused problems again for the top-ranked Djokovic in an error-strewn match which featured eight straight breaks of serve from when Kohlschreiber led 2-1 in the second set. Midway through that, Djokovic needed treatment for a couple of minutes on his right thumb. He appeared to hurt it while sliding at the baseline during the fifth game. “I lost my serve four games in a row in the second set, and that hasn’t happened too many times in my life,” Djokovic said. “I’m not a big server, but still, that’s quite a lot. It just didn’t feel so comfortable serving today. Let’s put it that way.” After Kohlschreiber dropped serve at the start of the deciding set—the eighth straight service break—Djokovic saved break points before holding for 2-0. The 15-time Grand Slam champion, who

will aim to win a fourth straight major when the French Open starts next month, then upped his level. He held to love for 4-2 and saved a break point to go 5-3 up, forcing his 35-year-old German opponent to serve to stay in the match. Kohlschreiber saved a first match point at 30-40 with a sublime drop shot and held. Serving for the match, Djokovic fluffed another three match points. After finally sealing the victory when Kohlschreiber’s return landed long, he whacked the ball away in frustration and then whipped another one up into the crowd. Djokovic, who lost in the fourth round of the Miami Open last month, seemed irritable at times and smashed his racket into the ground at 4-2 down in the second set. Later in the second, he lobbed his racket at the ball when retrieving a shot at the baseline and inadvertently sent it into the crowd. “The positive of today [is] hanging in there, fighting and grinding,” the 31-year-old Djokovic said. “In a way it’s good I got to spend two-and-a-half hours on the court in my opening match of the clay season. This surface is very demanding physically.” He next faces the winner of a second-round match between American Taylor Fritz and Argentina’s Diego Schwartzman. Also on Tuesday, three-time Grand Slam champion Stan Wawrinka faltered in his secondround match against last year’s French Open semifinalist Marco Cecchinato after leading by a set

and a break, losing 0-6, 7-5, 6-3 to the Italian. Wild-card entry Jaume Munar of Spain also went a set and a break up against No. 9 Borna Coric of Croatia, but was beaten, 6-7 (3), 7-6 (7), 6-4. In other second-round play, Argentine Guido Pella downed seventh-seeded Marin Cilic, 6-3, 5-7, 6-1, breaking the imposing Croatian’s serve eight times. There was another upset as Italian qualifier Lorenzo Sonego won, 7-6 (4), 6-4, against eighth-seeded Russian Karen Khachanov. In remaining first-round matches, 18-yearold Canadian Felix Auger-Aliassime won, 7-5, 7,6 (5), against Juan Ignacio Londero and next faces No. 3 Alexander Zverev. Fritz was 6-4, 2-0 ahead against Jo-Wilfried Tsonga when his opponent retired with a lower-back injury. Defending champion Rafael Nadal, who is seeking a recordextending 12th title here, is in second-round action on Wednesday against Spanish countryman Roberto Bautista Agut. Nadal has not played since pulling out with a right-knee injury ahead of his Indian Wells semifinal against Roger Federer. AP

NEW-L RANK POINT ENFOR

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-LOOK KING TS RCED

Thursday-Sunday, April 18-21, 2019 C3 It should come into view the next time Woods plays, which could be the Wells Fargo Championship the first week in May. Woods first was asked about Snead’s record in 2012, when he was at 73 victories. For so much of his career, the topic was always Nicklaus and his 18 majors. “I was aware of it, but at the time, everyone focused on Jack’s record,” Woods said at Congressional in 2012. “But as I delved more into the game and was probably in high school, I started understanding Sam’s contributions to the game of golf and his consistency. The fact that he won at age 52, when he won Greensboro, and to do it for that long is amazing. Truly amazing.”

AMATEUR BATTLE

LOST in all the excitement over Tiger Woods winning the Masters for the fifth time was a battle to the end to be low amateur. Viktor Hovland of Norway, a junior at Oklahoma State, made bogey on his final hole, the par-4 ninth. That dropped him into a tie with Alvaro Ortiz of Mexico, who finished his college career at Arkansas. Ortiz then finished with a bogey at No. 9 to finish one back of Hovland. They were among four amateurs who made the cut and were vying for the sterling silver cup, and a spot in Butler Cabin for the green jacket presentation to the winner, which turned out to be Woods. “I’m pretty happy with my performance, just making the cut and showing that I can play out here,” said Hovland, who finished at three-under 285 and shot par or better all four rounds. Ortiz thought four under was required to be low amateur, and after a birdie on the par-5 eighth to get to three under, he played aggressively to a left pin and went into a bunker, failing to save par. He shot 69 and finished at 286. “At the end of the day, I know that I played great golf, and I gave myself a chance, and I’m just proud of the way I came back from the round yesterday and played some excellent golf,” Ortiz said. He congratulated Hovland and said, “I really like that guy and I think he’s going to go far in his career.” The other two amateurs to make the cut were Devon Bling and Takumi Kanaya, who shot 68 on Saturday and 78 on Sunday. The last time four amateurs made the cut at the Masters was in 1999, and two of them went on to wear green jackets—Sergio Garcia, who was low amateur that year, and Trevor Immelman.

PSC family-oriented program Laro’t Saya sa Parke returns

HE Philippine Sports Commission’s (PSC) park-based program Laro’t Saya sa Parke (LSP) resumed in Tagum City and Davao City over the weekend With at least 500 expected attendees weekly—all ages and different walks of life— the LSP lives up to its brand as a grassroots sports program that touches the masses. The program covers zumba, arnis, athletics, badminton, basketball, boxing, chess, football, frisbee, futsal, gymnastics, karatedo, tennis, muay Thai, sepak takraw, table tennis, taekwondo and volleyball. The LSP was relaunched early this month in the Visayas in the cities of San Carlos, Dumaguete and Sipalay simultaneous with its reactivation in Quezon City, San Juan and Luneta. An initiative under the Sports for All program of PSC, the LSP, also known as Play and Learn Sports for Free, targets the Filipino family that visits the park on weekends. “It is overwhelming to see the excited faces of families that look forward to weekends for this

activity,” program head Alona Quintos told the PSC Hour radio show. There will also be a relaunch in Oroqueta City, Misamis Occidental, in the first weekend of May.

Campus writers from all over the country, meanwhile, will receive training on sports journalism as the PSC kicks off its “Sports Journalism for the Youth” seminar at the Davao Christian Highschool in Davao City from April 24 to 26 in time for the Palarong Pambansa. About 200 student journalists will participate in the three-day workshop that will focus on sports journalism fundamentals, responsible sharing of information and social media ethics. PSC Chairman William Ramirez, Commissioners Celia Kiram and Charles Maxey, and Department of Education Undersecretary Revsee Escobedo will grace the opening ceremonies on April 24.

INLAND’S Teemu Putkonen made up for his late meltdown in the previous round with a strong finish on Wednesday, birdying two of the last three holes to shoot an eaglespiked 68 and snatch the third-round lead from Guido van der Valk in the International Container Terminal Services Inc. (ICTSI) Luisita Championship in Tarlac. In a leaderboard dominated by foreign aces,

TIGER WOODS became the ninth player to win major championship in his 20s, 30s and 40s. The others were Ernie Els, Hale Irwin, Raymond Floyd, Lee Trevino, Jack Nicklaus, Gary Player, J.H. Taylor and Harry Vardon. Leona Maguire of Ireland has received a special exemption to the Women’s PGA Championship this year at Hazeltine. Maguire was an All-American all four years at Duke and tied for 21st in the 2016 Olympics. She also played three times in the Curtis Cup. Woods’s victory in the Masters also guaranteed that he will be fully exempt into every major championship for the first 27 years of his pro career.

TIGER WOODS celebrates his Masters victory with his caddie Joe LaCava. AP

TCC INVITATIONAL UNWRAPS PGT TOUR MILESTONE SEASON T

ready to host another top-notch championship among the best of the best. But while Park’s victory was expected, Mondilla’s feat came as a surprise with the Del Monte ace outlasting American Nicolas Paez and winning by two despite a closing 75 and a twoover 290 total. That should make the chase for the top P1.5million purse doubly interesting, since no one holds a distinct advantage at the exacting layout with its unsettling hazards and roughs, and undulating surface plus the wind that come into play in most holes. The TCC Invitational also features former winners Tony Lascuña and Frankie Miñoza, and a slew of young guns raring to join the elite circle of winners in the event put up by International Container Terminal Services Inc. boss Ricky Razon to honor the memory of his father and ICTSI founder Don Pocholo, himself an avid golfer. Jobim Carlos, who won two tournaments and dished out a number of top 5 finishes to clinch the PGT Order of Merit title last year, hopes to shake off a hand injury that has hampered his campaign in the last two tournaments as he boosts the cast

that also includes PGT leg winners Jhonnel Ababa, Korean Kim Joo Hyung, Dutch Guido Van der Valk and Jerson Balasabas. Others in the fold are veteran Jay Bayron, Aussie Tim Stewart, Justin Quiban, Joenard Rates, Elmer Salvador, James Ryan Lam, Albin Engino, American Lexus Keoninh, Peter Stojanovski of Macedonia, Michael Bibat, Reymon Jaraula, Zanieboy Gialon, Arnold Villacencio, Nico Salahog, Rene Menor, Keanu Jahns, Mhark Fernando and Anthony Fernando. The Delimondo National Pro-Am will be held next from May 9 to 11 at Splendido before the circuit, organized by Pilipinas Golf Tournaments Inc., resumes with the Visayas swing from June 5 to 8 (Cebu), June 12 to 15 (Bacolod), June 19 to 22 (Negros Occidental) and June 26 to 29 (Iloilo). After the Riviera Classic from August 7 to 10, the tour goes down south with a four-leg swing, starting in Pueblo de Oro from September 11 to 14, then in Del Monte from September 18 to 21, Rancho Palos Verdes from September 25 to 28 and Apo from October 2 to 5 before winding up at Luisita in Tarlac from November 6 to 9.

Nine Mindanaoans join Jr. NBA Training Camp

HE Jr. NBA Philippines presented by Alaska returned for the second consecutive year to the Fr. Saturnino Urios University in Butuan City over the weekend and identified six boys and three girls to represent Mindanao in the National Training Camp in Metro Manila.

The Mindanao representatives are Apl McAndrei Gemao (12, Corpus Christi School), Khyre Axxell Ayao (13, General Santos City SPED Integrated School), Daniel John Quijada (Holy Child College of Davao), James Felix Rosario (13, Corpus Christi), Nick Ivan Tud (13, Corpus Christi) and Paolo Mathew

PHILIPPINE Sports Commission Chairman William Ramirez helps in the training of future sports writers.

FINN IN POSITION TO WIN AT LUISITA

DIVOTS

HE Philippine Golf Tour (PGT) marks its decadelong season with a 12-stage circuit across the country starting with The Country Club Invitational (TCC) from April 23 to 26 featuring a select cast headed by six former champions at the TCC course in Santa Rosa, Laguna. Angelo Que and Juvic Pagunsan shoot for a record fourth championship, Miguel Tabuena aims for a big rebound coming off an injury and Korean-American Micah Shin gears up for a reprise of his record feat last year when he edged Tabuena by one to become the first non-Filipino to win in what has long been considered as a major golfing championship. But the rest of the top 30 players in the 2018 PGT Order of Merit ranking are also coming into the P5-million event upbeat but wary of their chances not only against the tour’s revered names but also over the dreaded par-72 Tom Weiskoph-designed layout. The TCC has staged two big events the last six weeks—the inaugural TCC Ladies Invitational, which featured no less the world No. 1 Sung Hyun Park of Korea, and the Solaire Philippine Open topped by Clyde Mondilla—making it more than

“The PSC is continuing its Sports Journalism seminar, which was launched in February last year, to partner with our young journalists in spreading ethical and responsible journalism, and ultimately promote positivity in sports,” Ramirez said. “With the seminar ushering in the opening of Palarong Pambansa Davao City is hosting, we are driven to support not only our athletes but also our future media practitioners in the field of sports,” Ramirez added. Veteran journalist and Sun Star Davao editor Marianne Saberon-Abalayan will conduct a lecture on sports news writing, and Ripples Daily editor Randy Caluag, and journalism professors Ed Fernandez and Dr. Gemima Valderrama, will also give lectures. DepEd Assistant Secretary GHS Ambat and Publications Division Admin Officer Janssen Cabrera will also talk on editorial direction and DepEd’s social-media presence, respectively.

Kho (14, Corpus Christi) in the boys side. The girls are Razzylla Jane Lubrico (13), Xaniah Venice Ebajan (14) and Mikylla Taborada, (14) all from Corpus Christi. The camp, led by Coach Carlos Barroca of the NBA and former Philippine Basketball

Riviera last month. Van der Valk, however, said he would need to shoot a six-under to earn a shot at the crown, stressing: “A three-stroke lead isn’t safe here but it will still be difficult to catch him.” A host of others churned out low scores in hot conditions to get into the mix heading to the final 18 holes of the event serving as the kickoff leg of the PGT Asia third season with Spain’s Marcos Pastor matching van der Valk’s seven-under card in the second round with a solid 33-32 highlighted by an eagle on No. 16. Pastor, who topped the PGT qualifying tournament and tied for third in the PGT Asia elims, moved to joint third at 210, still four strokes behind

Putkonen finally took control after losing grip of the lead halfway through the $100,000 championship with a late double bogey Tuesday, putting up a combination of superb shots from the mound to the green to produce a second straight four-under card in near-ideal conditions and a 54-hole aggregate of 10-under 206. “My driving, irons and short game were simply good,” said Putkonen, who birdied the opening hole and holed out with an 11-foot eagle putt on the par-5 fifth off a solid 3-wood second shot from 260 yards. Those negated his bogeys on Nos. 3 and 6 with the Finnish still in search for a first local win hitting another birdie on No. 11 before closing out with birdies on Nos. 16 and 18 from 15 feet. That put him three strokes ahead of van der Valk, who pounced on Putkonen’s late-hole mishap to wrest the lead after 36 holes behind a fiery backside run of 31 for a 65 in the second round. But the Dutch failed to sustain his charge, settling for a four-birdie, four-bogey game for a 72 to drop to second at 209. “I’m not used to making predictions, but I’ll just play my game and hopefully I’ll make it tomorrow [today],” said 30-year-old shotmaker from Jarvenpaa, a 30-minute drive from Helsinki, who tied for 18th at the Philippine Golf Tour Asia

EASY ACCESS TO PLAYOFFS

TEEMU PUTKONEN (right) is three strokes ahead of Guido van der Valk entering the final round. ROY DOMINGO

Association players Tony de la Cruz and Willie Miller, hosted more than 500 campers with the selected athletes excelling in a series of activities and competition and exemplifying the core STAR values of the game throughout the camp. They will advance to the National Training Camp on May 17 and 19 and join the best young athletes from the Regional Selection

Putkonen but gained some momentum in pursuit of a breakthrough victory in the event organized by Pilipinas Golf Tournaments Inc. and backed by PLDT Enterprise, Meralco, BDO and PGT Asia official apparel Pin High. Joining him at third are Korean-American Micah Shin, who also got back into the thick of things with a 67, Japanese Keita Sudo, who shot a 70, and Thais Natthapong Niyomchon and first round leader Namchok Tantipokhakul, who carded a 70 and 72, respectively. Thai Donlaphatchai Niyomchon also sizzled with a 68 for joint eighth at 211 with compatriot Tawit Polthai, who turned in a 69, while Tony Lascuña showed flashes of his old brilliance and fired a bogey-free 68. But the multi-titled Davaoeño shotmaker remained too far behind Putkonen at 212, six shots off, as erstwhile local contender Jay Bayron bombed out with a 74 and fell to joint 15th at 213. “I still couldn’t get it right with my putts. I could’ve have moved closer had I made at least two more birdies,” said Lascuña, who hit all but one fairway and missed just two greens, although he rued a couple of birdie chances that could’ve boosted his third-round charge. He ended up with 30 putts. Justin Quiban, a former PGT Asia leg winner, also came through with an eaglespiked 66 to join Lascuña at 10th with compatriot Arnold Villacencio, who shot a 70, Singapore’s Choo Tze Huang, who matched par 72, and Thai Kammalas Namuangruk, who hobbled with a 73. But the fight for the top $17,500 could be reduced to the top seven players, although Putkonen looked headed to finally nailing the elusive win with a big cushion and a confidence boosted by a string of under-par cards that included an opening 70.

Camps and a select Alaska Power Camp group to vie to be named part of the 2019 Jr. NBA Philippines All-Star team. The Jr. NBA Philippines All-Stars—composed of a five boys and five girls—will join the first Jr. NBA Global Championship Asia Pacific Selection Camp, a weeklong camp in June that includes top youth players from the Asia-Pacific region excluding China.

T’S Playoff time in the National Basketball Association (NBA), and SKYcable Select’s NBA Premium TV 2+1 Promo offers the best value-for-money entertainment as it gives fans an extra month of free access to the hottest on- and off-court action just as the chase for the Larry O’Brien trophy heats up. Fans only need to avail themselves of two consecutive months subscription to get one month free and get their fill of everything about the NBA. NBA Premium TV features live games daily, analysis programs, basketball magazine shows, news and other specials. It also offers programs that feature the lives of individual basketball players, documentaries focusing on a particular NBA team during the season and archived broadcasts of well-known games The offer runs from April 3 to 30. Existing NBA Premium TV subscribers can also avail themselves this promo by calling the hot line. NBA Premium TV is available in SD for P200/month, and in HD for P350/month. Visit mysky.com.ph/nbapromo or call 418 0000 or any SKY local office to subscribe.

MESSI MAGIC ENDS UNITED CAMPAIGN B

By Joseph Wilson

LIONEL MESSI shows that past glories mean very little when he is playing at his best. AP

The Associated Press

ARCELONA, Spain—Lionel Messi made sure there was no memorable Champions League comeback for Manchester United at Camp Nou this time. Messi scored two early goals to help Barcelona beat United, 3-0, on Tuesday and reach the Champions League semifinals for the first time in four seasons with a 4-0 aggregate score. United had arrived at Camp Nou hoping to take inspiration from its Champions League final victory twenty years ago, when current manager Ole Gunnar Solskjaer capped a comeback against Bayern Munich by scoring the winner in injury time. But Messi showed that past glories mean very little when he is playing at his best. His first goal was had plenty of the familiar Messi magic, as he ghosted past a defender and bent the ball just inside the upright. The second was largely thanks to a blunder by David de Gea. Messi only managed a tame shot on goal but the Spain goalkeeper let it slip underneath him and into the net. “The image [we gave] was spectacular. This is who we are,” Messi said. “I was fortunate the first went in, I struck it hard and just inside the post. I needed a little more luck on the second. The important thing is that we achieved our goal. We have taken one more step [to the title].” After not managing a single shot on target at Old Trafford in the first leg, United looked a lot more dangerous going forward at the start. But after Marcus Rashford hit the crossbar, Messi took over with his tournamentleading ninth and 10th goals of the season. “Messi and Cristiano [Ronaldo] have been the best players in the world for the past decade,” Solskjaer said. “And he showed why we think that and why he has won so many titles. If you give him space and timing around the goal he will create chances and score.” Ronaldo will not be joining Messi in Europe’s final four. Ajax stunned Ronaldo’s Juventus 2-1 to progress to the semifinals in Tuesday’s other match. Donny van de Beek canceled out Ronaldo’s opener before Matthijs de Ligt took the winner to let the Dutch visitors advance 3-2 overall. The Barcelona crowd, which for so long viewed Ronaldo as its main nemesis when he was with Real Madrid, celebrated the Ajax goals when they were announced on the video monitor. In the opening leg, Messi had his nose bloodied by the arm of Chris Smalling in a collision that Barcelona Coach Ernesto Valverde compared to being “run over by a truck.” Messi was back in full force a week later. Far from shying away from contact with rivals, he initiated it with his defense to set an example for his teammates when they were caught off-guard after kickoff. After Rashford threatened by grazing the bar, Messi outmuscled Ashley Young to win the ball near the right touchline. He then brought the home crowd to its feet as he poked the ball through the legs of Fred, sped along the edge of the box, and drove a left-footed strike around a diving de Gea. Messi got his double soon with more than a little help from de Gea. “We started well in the first 15 minutes and I thought, ‘We’ve got something here,’” Solskjaer said. “But then they scored twice in four minutes.... You could see the difference of the teams tonight. The quality of their finishing was absolutely outstanding.” Messi went close to setting up another goal just before halftime. He made Phil Jones dizzy by changing the direction of his dribble three times. He then played Jordi Alba wide, for the left back to cross the ball to Sergi Roberto arriving at the far post. De Gea made a superb save to block his point-blank effort on the line. Philippe Coutinho added a third goal with a superb curling strike from long range in the 61st to cap arguably the best performance by the former Liverpool player since joining Barcelona just over a year ago. Messi cued the attack that ended in Coutinho’s goal by playing a long ball down the left to Alba, who knocked it back to the Brazil midfielder to beat de Gea from distance. The goals ended Messi’s bizarre scoring drought in Champions League quarterfinals that had reached 12 matches dating back to 2013. In total he has 45 goals in 42 games through all competitions this campaign.

Sports BusinessMirror

| Thursday-Sunday, April 18-21, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

FULL-TIME STUDENT, FULL-TIME ETC. N

EW YORK—Somehow, in the midst of his freshman season at Yale, Nathan Chen has found time to escape the classroom and the study hall and the tests. All he’s done since becoming an Ivy Leaguer is win the Grand Prix Final, a third straight US figure skating championship, and repeat as world champion. Yale might have a strong hockey team, but Chen’s hat trick can’t be matched by any of the Bulldogs. Chen chuckles when asked about achieving so much while also carrying a hefty workload in school. “It is challenging,” he says, “but I knew it would be.” And now that the competitive season is over—Chen helped the United States to a first-place finish in a world team event last weekend— he can have some downtime, right? Well, he could. Instead, he’s fitting in appearances with the Stars on Ice tour, which launches on Thursday night in Fort Myers, Florida. He will, however, skip some stops on the 13-city tour to take class finals. He is, after all, a full-time student. “It will be a challenge because of exams and other things, but most of the shows are East Coast-based and I can travel to school and back to the show,” he says. “Yeah, I am taking a gap for finals, but ultimately [the grind] is not too much of a concern. “It’s really nice that we have so many top skaters in Stars on Ice, so I am not part of the cast this year based on my schedules. It would

FALLEN PITCHER Colorado Rockies relief pitcher Carlos

Estevez falls while trying to throw out San Diego Padres’ Manuel Margot at first base during the eighth inning of their recent Major League Baseball game in San Diego. Margot advanced to second base on the throwing error by Estevez. The Rockies won, 5-2. AP

definitely impact the cast if they had to take me out of some [routines]. It’s a better idea to do my numbers separately. Besides, with all they have accomplished, they are a great cast.” That includes 2014 Olympic champion ice dancers Meryl Davis and Charlie White, world bronze medalist Vincent Zhou, and world silver medalists Madison Hubbell and Zach Donohue. Still, the fact Chen, who turns 20 next month, is participating on the tour after a full season of competition and the Yale workload is somewhat astounding. But he’s worked out a regimen for practices in New Haven, chats “all the time” with Coach Rafael Arutyunyan, and really hasn’t missed a beat—or a quad—since his fiasco of a short program at the 2018 Olympics that

NATHAN CHEN performs during the gala exhibition for the ISU World Figure Skating Championships at Saitama Super Arena in Saitama in March. AP

likely cost him a medal. Chen has been a winner at everything he has entered since the Pyeongchang Games, where his outsized performance in the free skate nearly overshadowed the medalists as he rallied to finish fifth. “Anytime there is no Olympics, it’s a completely different situation,” he says. “For the Olympics, there is a buildup to the games for four years. And it’s even more evident when you are thinking about that specific Olympics in that year. Now is the time to be improving, there’s less fine-tuning, more bold improvement and we’ve been able to achieve a lot of that this year. Ultimately, I am really happy with the season.” The 2018-2019 was highlighted by a pressure-packed showing by Chen at worlds in Japan last month. Leading after the short program, he was scheduled on the ice just after national hero Yuzuru Hanyu, the two-time Olympic champion. Hanyu was sensational; Chen cracked that the fans’ celebration after Hanyu’s routine—they throw Winnie The Pooh dolls onto the ice—featured “more Pooh Bears than I knew existed. It was incredible to see so many Pooh Bears on the ice.” Chen didn’t crack in his skating, though, and easily skated off with gold. “It was awesome,” he says. “It’s really nice to be able to see that number of people really enjoy the sport the athletes love so much. The reception was insane. Stepping on the ice, it is a little breathtaking to see all those people in a triple-decker rink, filling so many seats and making so much noise. “I was able to feel that energy from the audience and that they were expecting or wanting a good performance out of me.” He delivered, becoming the first American since 1984 to repeat as men’s world champ. The last was Scott Hamilton, who coincidentally founded Stars on Ice. Reminded of that connection, Chen noted that “Scott won four in a row. I have a ways to go.” AP

Fifa bans Brazil soccer official for life on corruption charges Z URICH—Brazilian soccer official Jose Maria Marin was banned for life by Fifa recently, 16 months after he was convicted of corruption charges in the United States. The 86-year-old Marin, who led Brazil’s organizing committee for the 2014 World Cup, was sentenced in August to four years in prison for racketeering, money laundering and wire fraud. Fifa said Marin was also guilty of taking bribes linked to media and marketing rights for South American and Brazilian soccer competitions. Prosecutors in federal court said at his 2017 trial that Marin took $6.6 million in bribes. He was ordered to forfeit $3.3 million and pay a $1.2-million fine. The Fifa ethics committee also imposed a 1-million Swiss franc ($1 million) fine—the same financial penalty ordered against several soccer officials indicted or convicted by American authorities. It is unclear how Fifa can enforce payment. Marin was arrested at a luxury Zurich hotel in May 2015 as part of the sweeping American investigation of corruption linked to Fifa officials. More than 40 people and marketing agencies have pleaded guilty, been

convicted or have been indicted and are fighting extradition. After being extradited to the United States in 2015, Marin was released on bail and lived in his Trump Tower apartment in Manhattan while awaiting trial. Former Iran Coach Carlos Queiroz, meanwhile, has filed a complaint to Fifa saying the Iranian federation still owes him salary from his spell in charge of the national team. The Portuguese coach led Iran for eight years until January when the team was eliminated from the Asian Cup in the semifinals. He has since been hired by Colombia ahead of the Copa America. Queiroz’s representatives tell The Associated Press that lawyers were instructed to file a complaint with Fifa, claiming the federation failed “to fulfill their obligations, related to the last six-month contract that ended in January and also related to the previous one.” Queiroz signed his final contract after Iran’s group stage exit at the 2018 World Cup, agreeing to lead the team into the Asian Cup. Fifa confirmed it received a claim on Tuesday from Queiroz against the Iran Football Federation “in relation to a contractual dispute between the relevant parties.” AP

God, our helper

EAR God, You protect us from harm and danger. In trust and hope we pray: Remember and receive our prayer, oh God. Prosper efforts to stop gun violence, and to keep schools and hospitals safe. Fulfill the hopes of those who seek employment and a place to settle. Support emergency aid workers, and restore life to lands devastated by natural or environmental disasters. May God strengthen our faith and animate us to hold firm in times of trial by the power of the Holy Spirit. Amen. GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

Life

MOMMY NO LIMITS: HOLY WEEK, FORGIVENESS, THINKING OF ‘FIVE FEET APART’: PART II D2

BusinessMirror

Thursday-Sunday, April 18-21, 2019

Worshipping at the shrines of cinema REELING

TITO GENOVA VALIENTE

titovaliente@yahoo.com

HE world has changed. I checked the schedules of malls and their movie houses, and most of them are open till Thursday and will be open on Saturday. There was a time when some malls deferred to the death of God and closed their gates till 3 pm, just after the ending of the Seven Last Words, and open again to customers whose religious habits include shopping and, well, malling. If we follow the schedules of films being shown now, it is possible that we would have Shazam!, a film about a boy who just needs to shout the magic word “Shazam!” so he would be transformed into a superhero. Decades back—or even a decade ago—movie houses would prepare for the Holy Week by screening

(curating was not a common word then) films that had Christ in it or stories that were culled from or inspired by the Bible and other sacred teachings. Those were the days of taboos and proscriptions. But cinema, that form that was so moving it earned its own superpowers, could escape the rules. So long, so long as your films were “appropriate” to the season. Thus, were born “Holy Week” cinemas. It was still a sin to be enjoying life when Christ was suffering but there were theaters that were supposed to aid one in meditating about faith and transgressions. Thus, came a long set of films that accompanied us as we trekked through that long, hot week of doing nothing. These were films that felt like graces from the heavens, especially since, as far as my generation was concerned, it would take more years and more confidence to think that it was alright to hit the beach on the days that ushered the only time that God died. Those films entertained us without bringing us closer to the Gates of Hell. Never mind if those films, by hindsight, were not good films. That, in fact many, of them were kitsch and dumb interpretations of the most appallingly creative of the old Books written under the label “Religion.” That, in fact, many of these films offered occasions for sinning—the scantily clad characters from the ancient world as conjured by the production designers of Hollywood, the dialogues that

were as stoned as the fantasized tablets containing the commandments, and the overall aesthetics that seemed like they were instigated by the Devil to show man that he was not created in the image and likeness of perfection. I reveal myself too much. You must feel by now where I stand insofar as religious films are concerned. My adage: leave religions to the rabbis and the priests, and the arts [of filmmaking] to the great sinners, the directors and writers. There were, however, good films. King of Kings was a film up there on the list of evergreens for the Holy Week. The film was directed by Nicholas Ray who became famous for Rebel Without A Cause, which made James Dean famous. It was perhaps Ray’s hands that brought about restraint in the interpretation of an old, old story. The crucifixion was less bloody. The face of Christ remained pristine except for a few small lines of red dripping down his face. Even Mary, as played by the great Irish stage actress, Siobhan Mckenna, was composed even when the skies had turned dark and the thunder rumbled from afar. Compare the Crucifixion scenes in Jesus of Nazareth and Mel Gibson’s The Passion of the Christ and you know what I mean. It is said that King of Kings is one of the first major films to show the face of Christ. Gibson’s Christ, on one hand, could go down

cinematic history as the most bloodied of them all. Playing Christ was Jim Caviezel, whose body was all bleeding scars and open wounds. His Christ was not just hoisted up as he was nailed to the Cross but was even turned roughly around, his face a few inches from the ground, blood dripping on the gravel. The tiny space between Christ’s face and the soil was enough to frame the face of Mary Magdalene, cowering and shivering in grief as she contained her scream, scared to come out as one of the sympathizers of Christ. The actress playing Mary Magdalene, one of the most famous sinners in literature, was Monica Bellucci. She astounded us in Malena by gracing the screen not so much with her stealthy pulchritude but with those long silences as she walked, and as we gazed, entranced and captivated. Gibson’s narrative, which was original, revolutionary and, at the same time, incendiary, is the winning factor of The Passion of the Christ. Still, in my book, the most compelling of the Crucifixion scene remains that of Jesus of Nazareth. A British-Italian TV miniseries but released later as a feature film, Jesus of Nazareth had the sincerest of actors ever to bring Christ on screen. The actor was Robert Powell, a British actor. Blessed with a voice

CONTINUED ON D2

Thursday-Sunday, April 18-21, 2019

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Today’s Horoscope

CLOCKWISE: My sister Joan gave Meagan this journal for her birthday; the photo I took of the movie poster of the movie Five Feet Apart; and Visita Iglesia with my dad, my sister and our kids last 2017.

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: America Ferrera, 35; Melissa Joan Hart, 43; Conan O’Brien, 56; Jane Leeves, 58. HAPPY BIRTHDAY: Listen and respond cautiously. Refuse to let your emotions interfere with what’s right. It’s OK to fight for your rights or the rights of others, but study all sides of a situation before you put your reputation at risk. Truth matters, and so do your motives. Choose wisely, and do your best to make a difference that will benefit society. Your lucky numbers are 2, 13, 20, 27, 34, 37, 41.

ARIES (March 21-April 19): Consider your options and prepare diligently. There is no room for error or risk. Change can be good as long as you go about it the right way. Trust in what you know, not what others tell you. ★★★

TAURUS (April 20-May 20): Don’t let your emotions get mixed up in your professional affairs. Doing a poor job because your mind is focused on personal matters will not bode well if you want to advance. ★★★

Holy Week, forgiveness, thinking of ‘Five Feet Apart’: Part II MOMMY NO LIMITS

MAYE YAO CO SAY

mommynolimits@gmail.com

ONTINUING from last week, below is a continued list of my questions of reflection for Holy Week: ■ ARE THERE FAULTS AND WEAKNESSES WE NEED TO FACE AND REPENT FOR? Faults and weaknesses are a part of life. I reflect on whether I have hurt or neglected people. I would think of the most important people in my life. I am conscious to utilize a neutral moral compass. I experienced how repeatedly rationalizing faults could actually blind one’s reality. I believe equally important to knowing one’s fault is committing to making things right. There is no such thing as self-absolution. Repentance is not only about saying or feeling sorry. The act of rectification and resolution are of heavier importance. There were years I recognize when I neglected my own family because of too much work. I would openly admit this to my husband and mutually find ways to make time for our family. ■ HAVE WE FORGIVEN THE “CULPRITS” OF OUR MISGIVINGS? This is probably the hardest thing to do. If one clearly knows one has been cheated on, duped or lied to, doesn’t one have the right to stay clear of the “culprits” of one’s misgivings? I am still in the process of learning this but what I have learned so far is that we need to accept our part in it. How we contributed to the situation, or how we allowed it to happen...and forgive ourselves in the process. I learned from wise people that forgiveness is a decision to learn and to let go. It is setting aside the compulsion to seek retribution. Personally, I believe forgiveness is reaching that point where, as hard as it is, you are able to wish people who have wronged you well. This year, the movie Five Feet Apart becomes a point of reflection. First, I was happy that the minute my daughter saw the movie poster last week, she immediately set a movie day with me. This is an instance I put on my 3GT (3 good things) list. Second, the movie struck me

with certain realities people face. Five Feet Apart explores the life of people with cystic fibrosis. By definition, CF is a hereditary disorder affecting the exocrine glands. It causes the production of abnormally thick mucus, leading to the blockage of the pancreatic ducts, intestines and bronchi, and often resulting in respiratory infection. Despite all the routines and medical regimens, there is no cure for CF. The movie tells the story of CF patients Stella and Will who are forbidden to fall in love due to the high risk of cross infection. In the end, they find their way to express their affection and live a life with no regrets. My daughter and I cried a lot while watching the film. Many or maybe we ourselves are experiencing life-changing situations in health, emotions or in other aspects of our life. In the most painful cases, I have seen people I love face these almost hopeless “losses” or setbacks with the strongest of will, positivity, faith, and even generosity. Like the movie, despite the fight some get through them. Some don’t. In the end, each becomes a source of inspiration for the people around them. During this Holy Week, I hope all of us look forward to reflect and come out with positive realizations that will help us through the year. Below are some excerpts of my Easter reflection in 2017: 1. YOU DESERVE YOUR PERFECT WORRY-FREE LIFE. All your life you worry about the future. You think after one good grade, that failing grade of 40 on an English quiz would pop up again if you do not stay on guard. What is your perfect worryfree life? I wish to be productive in my craft, have time for my passions, and, most important, have a happy family life. 2. GIVE YOURSELF UNCONDITIONAL LOVE. You always feel that your family never gave you unconditional love. You feel like you were valued by how much you contributed to the company. I cannot commit the same mistake. Today, I need to love myself for all my worth—through mediocrity, failure or something even great. I am not perfect. There will be aspects in my life that are not As. 3. BE A GREAT SUPPORT GROUP TO YOUR FAMILY. This means being there more for your dad and sister. Our fathers have so much to teach from what they had to transcend. Give your sister the freedom of life and appreciation. 4. PURSUE PASSIONS BEYOND WORK. Passions beyond work today is writing and pursuing education. This must be a Saturday endeavor. Sundays are meant for family and your own rest. 5. MAKE A DIFFERENCE IN SOCIETY. The people you affect are enough difference for now.

Thank you, God, for this Easter realization. Each time there is doubt, I lift all my questions, angst and fears only to God. Each time a solution is found, I thank God in advance for the guidance, the wit and the follow-through. And when all success and peace come, I offer them all for God’s greater glory. ■

WORSHIPPING AT THE SHRINES OF CINEMA CONTINUED FROM D1 that narrated documentaries and cheekbones that were magnificent with the lights, his Christ stared straight into the camera when at last he uttered the words “It is accomplished.” Consummatum est. It is finished. What was consuming in Jesus of Nazareth were the women at the foot of the Cross. There was Maria Carta as Martha. She was a folksinger and stage actress. She was Vito Corleone’s mother in Francis Ford Coppola’s The Godfather II. Then there was Anne Bancroft, the great acting technician. In a scene where the camera cut to her from the face of Powell as Christ, she had her face covered by her hands. It was a dramatic technique that allowed her to slowly reveal her own unfathomable sadness at the death of the only Man who understood her as a Woman. When Christ was brought down from the Cross, and laid down on the ground, Bancroft as Magdalene kissed once more the feet of Christ, reenacting their first dramatic meeting when she anointed with oil and kissed the feet of the Savior. But then there was also the Mary of Olivia Hussey, perhaps the youngest or the youngest-looking Mater Dei of them all. No amount of aging makeup or wrinking would diminish that eternally pure face. To her would be reserved the dramatic spread-eagle grief, the wailings at the foot of the Cross. Stabat Mater! Hussey holds the record of the first Juliet of Shakespeare’s Romeo and Juliet who looked the age of that tragic lover. She was 15, nearly 16 when she appeared in that film. Franco Zeffirelli, who directed Jesus of Nazareth, was the man behind that inceptive tale of star-crossed lovers. ■

GEMINI (May 21-June 20): Leave nothing to chance. If you want something done according to your specifications, do the work yourself. Don’t let someone’s accusations throw you off guard or cause you to get into an unnecessary argument. Speak the truth to avoid criticism. ★★★★★

CANCER (June 21-July 22): Make changes at home that will add to your comfort and will put you at ease. Doing something physical will encourage you to live a healthier lifestyle and to spend more time with people who bring out the best in you. ★★

LEO (July 23-Aug. 22): Expand your mind, but don’t overspend, make unrealistic promises or travel somewhere that isn’t safe. If you want to help others, contribute something physical, not financial. An improvement to the way you live will require you to make a physical adjustment. ★★★★

VIRGO (Aug. 23-Sept. 22): Participate in something that will bring you in touch with people with similar interests. Sharing your knowledge will give you a different perspective on how to accomplish your goals. ★★★

LIBRA (Sept. 23-Oct. 22): Control your emotions; you will accomplish your goals. If someone tries to pressure you or complains, focus on activities that require you to do something physical. ★★★

SCORPIO (Oct. 23-Nov. 21): A business trip or meeting will clear up any uncertainty you have about the best way to move forward with your plans. Include the people you feel have the most to offer. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Recognize a good deal from a bad one. Don’t let someone take advantage of you or lead you astray. Stick to what and who you know best, and let go of situations and people who tend to meddle or cause problems. ★★★★

CAPRICORN (Dec. 22-Jan. 19): Sharing too much information with someone who cannot keep a secret will leave you open for criticism. Do your own thing to avoid interference. A change at home will surprise someone you love. ★★

AQUARIUS (Jan. 20-Feb. 18): A money matter can be resolved. Go over your investments, assets and any matters concerning government agencies or institutions. A home improvement project will turn out well and within budget if you do as much of the work as possible yourself. ★★★★★

PISCES (Feb. 19-March 20): Show a little passion when it comes to your work and what you are trying to accomplish. Attitude will play a hefty role when it comes to drumming up the support or cooperation you need to move forward. ★★★ BIRTHDAY BABY: You are curious, empathetic and helpful. You are outgoing and energetic.

‘tearing open’ BY ERIK AGARD The Universal Crossword/Edited by David Steinberg

ACROSS 1 Map book 6 Atkins dieter’s bane, briefly 10 46-Across sibling 13 Evil demon 14 Tibet’s place 15 Sandwich in a tortilla 16 Cigna competitor 17 Place for a food court 18 ___ No Sunshine 19 Life in Motion: An Unlikely Ballerina autobiographer 22 Pencil end 23 Most senior 26 Reel go-with 28 Holstein’s sound 29 Greek T 30 Beer dispensers 34 Alarmist’s activity 37 Fairy-tale’s second word, often 38 Long, long stretch 39 “A likely story!” 40 Taking to task 44 Precious stones 45 “Rules ___ rules”

46 10-Across sibling 47 ___/her/hers 49 Wall or Beale 51 Takes from stage to screen, say 56 Its leaves reach to the ground 60 Greenish-blue hue 62 Fe, in chemistry 63 The Princess and the Frog princess 64 “___ fair in love and war” 65 Home, in Jalisco 66 The planets or a spider’s legs 67 President after Ike 68 Was aware of 69 Wetland plants DOWN 1 Athlete’s peak performance 2 His and hers 3 “___ luck!” 4 Cousins’ mothers 5 Dragon’s assassin 6 Forest-toned pattern, informally 7 “And hurry!” acronym 8 Irk 9 Hot-air conveyance 10 Shower honoree

11 12 15 20 21 24 25 27 28 30 31 32 33 35 36 41 42 43 48 50 52 53 54 55

Fled Make a decision Spell-casting stick Swamp snapper, for short Easy as falling off ___ Oregon’s capital School near Boston Wine remnants Non-plus? Heavy horns Separated Jog alternative NBC sketch show “Hoo” lead-in Hairpiece with a lace closure, perhaps “Understood” Find tiny faults Unfreeze Pitch reader Long swimmers Wonderland explorer Appetizer holder Like well-exercised muscles Hits, as a mosquito

57 58 59 60 61

Persian is its official language Pinocchio protrusion Chew concertedly ___ Mahal Christmas being

Solution to yesterday’s puzzle:

Who can nominate?

Professional level: Entries may be submitted by any person or organization wishing to direct

the attention of the CMMA to a meritorious program, series, article, material and the like. A person or a company may submit more than one entry in each category. Entries need not be Christian and nominees need not be Catholics. All entries must be those media works released from May 2018 to April 2019.

Student level: All bona fide students enrolled in any of the participating schools, colleges and

universities within the school year 2018-2019.