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Briefly Disaster plan THE Cagayan de Oro City Council committee on police, fire and public safety on Thursday endorsed the new five-year plan of the City Disaster Risk Reduction and Management Council (CDRRMC) here. The CDRRMC five-year plan was submitted by the city administrator to the city council for review and approval, said Councilor Ramon G. Tabor, chair of the committee. He said the new fiveyear CDRRMC plan was in pursuance to Republic Act 10121 otherwise known as Philippine Disaster Risk Reduction and Management Act of 2010.
Teleperformance DAVAO City -- Teleperformance opened its 11th branch in Davao City with a formal launch held last July 12 at its site in SM City-Davao. Teleperformance one of the world’s leading provider of o u t s o ur c e d c u s to m e r ex p er ie n c e m anag e m e nt services has a 11,2000 square meter contact center that covers 1,500 employee workstations and state-of-the-art employee facilities such as fitness gyms, spacious cafeteria, full-service clinic, sleeping quarters, game and recreation area and employee lockets. Aside from the contact center the SM- City Davao facility includes a recruitment center which can process applications from prospective contact center applicants. According to Brian Johnson, the center has hired hundreds of Dabawenyos and will continue to expand to a total of over 2,000 employees in the near future.
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Tune Hotel opens; to boost CDO’s tourism industry AWARD winning international hospitality group – Tune Hotels – is further strengthening its portfolio of value-for-money hotel rooms with the opening today (July 19) of its Cagayan de Oro hotel, the first of four hotels it will open in the Philippines this year. The 159-room Tune Hotel Cagayan de Oro is located at the heart of the
Lapasan central business district which brings group’s portfolio of hotels in the country to five. Tune Hotels have quickly gained a strong foothold and acceptance of the brand’s concept in the Philippines with the first hotel opening in Angeles City (165 rooms) in February 2012, followed by Cebu (150 rooms) later in February, Ermita (167 rooms)
in March and Makati (213 rooms) in July last year. After Cagayan De Oro, there will be hotels in Quezon City (140 rooms), Ortigas (182 rooms) and Davao (155 rooms) for a total of eight hotels opened within a two year period. The Tune Hotels brand is owned Tune/PAGE 3
Exports gab to boost Mindanao products
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By IRENE DOMINGO, Reporter
INDANAO’s exports industry is expected to further gain leverage with the holding of the first Mindanao Exporters Congress (MEC) slated on Aug. 1-3 at the SMX Convention Center at SM Lanang Premier in Davao City.
Initiated by the Philippine Exporters Confederation ( Ph i l e x p o r t) w i t h t h e theme “Export Value Chain Integration and Innovation Technology”, the congress a i ms to consol idate a l l issues and concerns facing the export sector afterwich,
these will be elevated to the national government for appropriate action. Based on the data of the Mindanao Development Authority (MinDA), Davao Region posted an export growth of 16.7 percent, more Boost/PAGE 11
ANIMAL CARE. A caretaker of the Mantianak Park in Sugbongcogon, Misamis Oriental, checks on the health of four female tigers. The park has increased its entrance fee to P100 for adults and P50 for children in an effort to raise more funds for the upkeep of the park that features several kinds of animals. photo by gerry lee gorit
Bo’s Coffee posts brisk sales By REMEE MONIQUE O. ESPIRITU, Reporter
BRISK SALES. Bo’s Coffee Ayala Centrio Branch Manager Lyndon Recera prepares his original coffee concoction Espresso Spice. Recera said the outlet continues to post increase in revenue. photo by remee monique espiritu
BO’ S COFF E E C ent r io br a nch ha s repor ted a c ont i nu e d i nc re a s e i n revenues in a month-on-
month basis despite hiccup being experienced by other outlets within Ayala’s newest mall in Cagayan de Oro City.
Branch manager Lyndon Recera sa id t he bra nch posted 10-15% earnings last month, which is equivalent Sales/PAGE 11
J.P. RIZAL - CRUZ TAAL STS., (NEAR SHANGHAI BAKERY) DIVISORIA, CAGAYAN DE ORO CITY
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Palace on abolition of pork barrel: ‘It’s up to Congress’ By Lilybeth G. Ison
MANILA—Malacanang is leaving to Congress the decision on the proposed scrapping of the Priority Development Assistance Fund (PDAF), better known as the “pork barrel” fund.
“Karapatan po ng kahit sino mang mambabatas na maghain ng mga panukala. Ang Kongreso na po ang bahalang magpasiya kung ang panukalang pagbasura sa pork barrel system ay ipapasa upang maging batas,” said Presidentia l Spokesman Edwin Lacierda in a text message Thursday. The Makabayan bloc at the House of Representatives earlier filed House Bill 1535 calling for the abolition of the pork barrel system. The bill shall prohibit the President from providing a budgetary item or including in the proposed budget submitted
to Congress every fiscal year lump sum allocations to the PDAF and other lump sum discretionary amounts. Aside from the legislators’ pork barrel, the bill shall also abolish the Presidential pork barrel funds, such as the President’s Social Fund sou rced f rom revenuegenerating agencies like PAGCOR, PCSO, and the Malampaya Fund. The Ma kabayan bloc comprised four party-list parties in the Lower Chamber — Bayan Muna, Anakpawis, Gabriela Women’s party, Kabataan and ACT Teachers. (PNA)
ARMM taps DAP for development Delay in climate finance By Ali G. Macabalang
COTABATO CITY—The Autonomous R e g ion i n Mu s l i m M i nd a n a o (ARMM) governance has tapped the Development Academy of the Philippines (DAP) in recruiting and training executives of the regional bureaucracy in what the regional leadership touted as part of its agenda for smooth transition to the proposed Bangasamoro political entity. The DAP experts’ assistance started in the screening of applicants to managerial and technical posts in the various ARMM line agencies and offices upon the assumption of office of ARMM Governor Mujiv Hataman on July 1. After the appointment process,
which constituted t he regiona l Cabinet with mostly new faces and few incumbents retained, the DAP has set three days of training of the new recruits in Tagaytay City from July 19 to 21. L oca l ma nagement a na lysts welcomed the new strateg y, but skeptics had doubted its rationale, saying it was resorted to by Hataman to “do away” with his expressed commitments to political allies during his recent election campaigns. The announced conduct of the upcoming training in Tagay tay also constituted a “deviation” from Hataman’s earlier policy of holding ARMM-financed activities locally to ensure circulation of the regional ARMM/PAGE 11
‘disastrous’ for PHL — PMCJ By Jonathan L. Mayuga
AS the United Nations Framework Convention on Climate Change (UNFCCC) First Meeting of Experts on Climate Finance wraps up its two-day meeting in Makati City, climate activists belonging to the Philippine Movement for Climate Justice (PMCJ) warned that any delay in climate finance will be “disastrous” to the Philippines, as well as other developing countries that are highly vulnerable to climate-change impacts. The group stormed the Dusit Hotel on Wednesday to demand developed countries to pay their “climate debt” through climate finance, and implement deep cuts in their greenhouse- gas emissions to mitigate delay/PAGE 11
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Aboitiz Foundation’s booth during the LCF CSR Expo 2013 at the SMX Convention Center in Davao City.
Aboitiz reiterates commitment to education reforms DAVAO City -- Aboitiz Foundation, Inc., the social development arm of the Aboitiz Group, vowed to continuously prioritize the implementation of initiatives aimed at developing the country’s educations system during the recently concluded Corporate Social Responsibility (CSR) Expo 2013 held at the SMX Convention Center here. In its exhibit, the Aboitiz Foundation recreated a classroom to showcase its inf rast r ucture bui ld ing init iat ive t hat prov ides
students, particularly in its host communities, a more conducive learning environment. “The foundation maintains
its priority programs in infrastructure building, s c hol a r s h ip pro g r a m s , and asset donations. Every year, the biggest chunk of our budget is allocated to education-related initiatives,” stressed Aboitiz Foundation executive vice president and chief operating officer Sonny Carpio, who is also the chairman of the League of Corporate Foundations (LCF), the event’s organizer. aboitiz/PAGE 10
and operated by Red Planet Hotels Ltd. in the Philippines. Chief Executive Officer Tim Hansing said t here w i l l further openings of Tune Hotels in the Philippines in the coming years with a target minimum of 15 properties for the country. “It has been extremely pleasing to see how rapidly and how well the Tune Hotels brand and concept has been accepted by Filipinos and international travelers alike,” Mr. Hansing said. “By presenting to the market an internationa l brand managed entirely by locals, the warmth of Filipino hospitality has convinced both the Tune brand and Red Planet Hotels to make a significant investment in to the country as the travel and tourism sector continues to strengthen and grow.” Mr. Hansing said there will be more hotels coming in the greater Metro Manila region while other regional locations are being evaluated. Tune Hotels is a sister company of the Air Asia group of airlines which is also steadily building its presence in the Philippines, most recent ly w it h t he announcement of a strategic partnership with Zest Air, which f lies d irect f rom Manila to Cagayan De Oro. Tune Hotel Cagayan De Oro is a welcome addition to
the city with air passenger arrivals growing to a robust 1.622 million in 2012. The recent opening of the new Laguindingan International Airport is also expected to further increase the number of f lights into the city especially from domestic low cost carriers. The new Cagayan De Oro property is the first Tune Hotel in the Philippines to have a function room catering to up to 30 guests for meetings and socia l gatherings. There will also
be a restaurant at the ground floor to serve breakfast and provide food and beverage services for meetings and events. T here a re now Tu ne hotels in the Philippines, Thailand, Indonesia, Japan, Malaysia, India, England and Scotland and all boast c u stom-made, f ive-st a r beds to provide an excellent night’s sleep, power showers, 24-hour security in locations that are easy to reach and close to public transport points.
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Japan to fund MinSAAD project By Jonathan L. Mayuga
DAVAO CITY—The Government of Japan has pledged about P2.64 billion to fund the government’s agriculture project in Mindanao. The project called “Mindanao Sustainable Agrarian and Agriculture Development” (MinSAAD) had a ceremonial launching on Wednesday, according to a statement. The statement added that the MinSAAD project would expect to secure about ¥6,063 million in loan assistance from Japan. “The project is designed to increase agricultural productivity and income of agrarian reform beneficiaries as well as other marginal farmers through provision of small-scale agricultural infrastructure,” the statement read. Some of these infrastructure projects were cited as construction of irrigation
PHL to export more Premium rice to S’pore KORONADAL CITY—More premium rice produced by farmers in South Cotabato and Nueva Ecija are set for shipment to Singapore next week. T he Depa r t ment of Ag r ic u lt u re, announced early this week said that some 45 metric tons white aromatic rice produced by farmers belonging to Magtutumana ng Sta. Rosa Multi-Purpose Cooperative in Sta. Rosa, Nueva Ecija and Firmus Farm Service Providers’ Cooperative based in Koronadal City in South Cotabato is scheduled to be be shipped on July 22. Firmus is a cooperative that specializes in the provision of farm workers that can be hired for a fee, concept that was initiated by the Department of Agriculture-12 last year. Agriculture Secretary Proceso J. Alcala disclosed that the current shipment of Aromatic White Rice was gathered and selected from the best crops produced in the country during the last cropping season. Each grain, he explained, was carefully harvested when fully mature and when the rice paddies have turned into a landscape of golden brown stalks under the clean, pollution-free environment of the Philippine countryside. The batch is the second shipment that the Vegetable Importers, Exporters and Vendors Association Philippines Incorporated (VIEVA Phil. Inc.) arranged for exportation of locally produced premium rice products. In May, it shipped to Dubai, United Arab Emirates 15 metric tons of organic black rice produced by the Don Bosco MultiPurpose Cooperative based in M’lang, North Cotabato in Soccsksargen Region along with 20 metric tons of white aromatic rice from Luzon. Ms. Lea M. Cruz, president of VIEVA Phil. Inc, which acts as the shipper/exporter of the cargo, further stressed that they processed and packed all its rice products hygienically to preserve their rich aroma and superb quality - mindful of the discriminating export/PAGE 10
facilities, post harvest facilities, farm-tomarket road and capacity-building support. MinSAAD seeks to increase competitiveness and ensure viable and sustainable agriculture development in twelve selected settlement areas in three regions in Mindanao covering 205 barangays and 25 municipalities. The government expects around 69,091 agrarian-reform beneficiaries to benefit from this project. “The Government of Japan is committed to supporting the Philippines’s nationbuilding efforts, in line with the Philippine Development Plan [PDP]. This five year
MinSAAD project is aligned and supportive of the development thrusts of the PDP.” In October last year, the Department of Agrarian Reform began searching for consultants for the MinSAAD project. The project, which will be implemented from 2012 to 2016, will require the engagement of foreign, as well as local consultants, and put to work in total some 600 staff. Launched in 2012 by the DAR, the project aims to provide support services to some 69,091 farmer-beneficiaries in Northern Mindanao, Southern Mindanao and Central Mindanao. Likewise, it seeks to “improve” agricultural production in 11,620 hectares of farmlands, more than 2,000 hectares of which would be provided with irrigation facilities, in fund/PAGE 10
ECOSAN GARDEN. This 1,500 sq.m demo ecological sanitation ‘garden’ of WAND Foundation in Libertad, Misamis Oriental, is fully-powered by humanure, taken from the EcoSan toilet seen in the background. The garden is 100 percent organic and the crops are mixed to minimize disease and pest infestation. Products from this garden supply WAND’s small restaurant in Initao, Misamis Oriental. Surplus products are sold to neighbors and in the local market and the proceeds help in sending the foundation’s working students to college.
Cartel behind high rice prices in R12 By Allen V. Estabillo
GENER AL SANTOS CITY—Agriculture officials in Region 12 are eyeing possible price manipulation by alleged rice cartels as behind the drastic increases in commercial rice prices in parts of the region in the last two weeks that already breached the P40 level a kilo.
Amalia Jayag-Datukan, Department of Agriculture (DA) Region 12 executive director, said Wednesday the region’s palay harvests have remained sufficient in the past several months and there is no reason for local rice traders to hike up the prices of commercial rice at the current “excessive levels.”
She was referring to the P3 to P5 increases in the prices of various commercial rice products, especially of the premium varieties, in local markets within Southwestern Mindanao. “It appears that some cartels are manipulating our rice prices and we’re now Cartel/PAGE 10
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Food lost, wasted from farm to fork
ONE out of every four calories produced by world agriculture gets lost or wasted. This poses a serious challenge to the planet’s ability to reduce hunger and meet the food needs of a rapidly-expanding global population, according to a new report, “Think.Eat.Save - Reduce Your Foodprint.” The report was produced by the World Resources Institute (WRI) and the United Nations Environment Program (UNEP) and draws on research from the UN Food and Agriculture Organization (FAO). More than half of the food lost and wasted in Europe, the United States, Canada and Australia occurs close to the fork at the consumption stage, according to the new United Nations analysis. By contrast, in developing countries, about two-thirds of the food lost and wasted occurs close to the farm, after harvest and storage. It makes a range of recommendations including the development of a “food loss and waste protocol”―a global standard for how to measure, monitor and report food loss and waste. The rationale is that if what gets measured gets managed, then such a protocol could go a long way toward helping governments and companies implement targeted efforts to reduce food loss and waste. The world will need about 60 percent more food calories in 2050 compared to 2006 if global demand continues on its current trajectory, the report says. Halving current rates of food loss and waste would reduce this gap by a fifth. This would also result in major savings in water use, energy, pesticides and fertilizers, and would be a boost for global food security. “It is an extraordinary fact that in the 21st century, close to 25 percent of all the calories linked with growing and producing food are lost or wasted between the farm and the fork,” said UNEP Executive Director Achim Steiner, “food that could feed the hungry, food that has required energy, water and soils in a world of increasing natural resource scarcities and environmental concerns including climate change.” The report shows that water used to produce lost or wasted food around the food/PAGE 10
ARCCESS: DAR’s way to increase farmer’s productivity By Mary Mae Abellon
“WE CANNOT have a society where a few f lourish and the rest just make do with crumbs. We must have inclusive growth,” so declared President Benigno S. Aquino III when he became the country’s 15th President. Aquino seeks to achieve, within his term, an equitable economic growth not only in the urban centers but in the countryside as well. The Department of Agrarian Reform
(DAR) is one of the government agencies tasked with taking the lead in responding to the President’s goal of inclusive economic growth. With the implementation of the Comprehensive Agrarian Reform Program (CARP), DAR focuses on land tenure i mprovement , ag ra r ia n just ice, a nd coordinated delivery of essential support services to client-beneficiaries. ARCCESS: To enhance agricultural productivity in the country, DAR has embarked on a program
dubbed Agrarian Reform Community Connectivity and Economic Support Services (Arccess) in 2011 with special allocation from the Department of Budget and Management (DBM). This program aims to increase agricultural production by providing the farmers with the needed support from land preparation, planting to harvesting, and marketing. With professional services and common service facilities provided by the government, DAR/PAGE 10
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Gov’t to borrow P620-B from local market in 2014 By Chino S. Leyco
MANILA—The national government is planning to borrow P620 billion from the domestic market next year, data from the Department of Budget and Management (DBM) showed.
SC orders Comelec: Bare use of intel fund
THE Supreme Court (SC) has ordered the Commission on Elections (Comelec) and Malacañang to submit documents that would show how the poll body used its intelligence fund. In issuing a writ of habeas data, the High Court gave credence to the case filed by the Automated Election Systems (AES) Watch against Comelec officials. The group claimed that the poll body is using part of its P30 million intelligence funds to spy on poll watch groups. The High Court also ordered the Comelec to file its answer to the petition filed by AES Watch. However, the SC referred the case to the Court of Appeals (CA) to conduct the hearing and reception of evidence. A writ of habeas data is a remedy issued by the court to compel agencies to disclose information for the sake of public interest and transparency. The petition against Comelec Chairman Sixto Brillantes and Commissioners Elias Yusoph, Christian Robert Lim, Luie Tito Guia, Grace Padaca, and Al Parreño and Finance Director Eduardo Dulay Mejos was filed by former Comelec commissioner and IT expert Augusto “Gus” Lagman, whistleblower and former Comelec legal consultant Melchor Magdamo, IT system expert Engr. Nelson Celis, cybercrime resource person Lito Averia, Jun Lozada, IT orders/PAGE 10
T h e g o v e r n m e n t ’s proposed local borrowing plan for next year is higher by 9 percent compared with the original borrowing program for 2013 of P567.96 billion.
T h e g o v e r n m e n t ’s domestic borrow ings is expected to surpass the P567.96 billion ceiling after the Aquino administration decided to abandon its earlier
plan to borrow from the foreign markets. N a t i o n a l Tr e a s u r e r Rosalia B. de Leon earlier said that government’s borrowing mix this year may be at 91:09, in favor of the domestic investors, which helped to siphon off excess liquidity in the system. T h e g o v e r n m e n t ’s domestic borrowing are mostly composed of the usual
Treasury bills and Treasury bonds. “We expect strong appetite for government securities in 2014, and even in terms of the tenors. We still see a strong appetite on the long-term of the curb given that they will still look for higher yields,” De Leon said. “We will still maintain the schedule for the domestic borrow/PAGE 11
Small step for rural banks, giant leap for financial inclusion IN yet another step in the country’s long journey toward achieving full financial inclusion, rural banks can now offer financial products like insurance policies and credit cards to their clients in the countryside, after the Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas (BSP), liberalized the framework for cross-selling of banks. Under BSP Circular 801 series of 2013, “cross-selling” allows the sale of a financial product in other affiliate intermediaries sold in affiliate banks. Banks, particularly rural banks, may now “cross-sell” loan products such as credit cards, home mortgage loans, personal and other retail loans; term, life, nonlife and other protection-type insurance products; cash, debit and related products; and other similar financial instruments that may be authorized by the Monetary Board. Banks may also use their premises to market and sell the financial products of their related parties under a banking group or a financial conglomerate. Thus, if the parent in a banking group is a universal bank and the subsidiary is a rural bank, the latter can be used to
distribute some of the former’s products and vice-versa. By expanding cross-selling activities, which was then confined universal and commercial banks under BSP Circular 357 issued in 2002, rural banks now serve as a viable platform to market and sell the aforementioned financial products due to their broad branch network in the countryside, with rural communities basically serving as their bailiwick. Of the estimated 9,300 banks’ head offices and branches in the country, thrift and rural banks account for about 4,100, based on the September 2012 data of the BSP. In effect, more Filipinos will now have access to a number of banking products especially those living in rural communities. They can finally have the chance to shed the “unbanked” and “underbanked” label that has been attached to them for eons, as they will have an opportunity to avail of different financial products, at much friendlier terms. Meanwhile, to prevent abuse, the BSP said that an oversight-handling mechanism specific to cross-selling financial/PAGE 10
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hink a minute…Recently on T V I watched a n A Minute interview of a man named By Jhan Tiafau Hurst Kuklinski who is in prison for murder. This man has tortured and killed more than 100 people. He was interviewed by a professional counselor who explained t hat Ku k linsk i became a murderer mainly because of the kind of parents who raised him. Kuklinski’s father often beat him terribly for simply no reason, and Kuklinski’s mother never showed him any love at all. After years of painful torture and abuse, Kuklinski eventually had no conscience. He says that is why he did not feel anything or care at all about the 100 people he tortured and killed. Since he has never been loved or had even one friend, he says the only thing that keeps him going in life is his hate for other people. Another man, Henry Luce, had a very different father than Kuklinski’s. Henry Luce is the man who started the very successful Time-Life company which published both Time and Life magazines. In fact, many people think that Henry Luce has probably influenced world opinion more than any other publisher in history. Luce often talked about his years as a missionary’s son growing up in China. When he was a young boy, he and his father went for a long walk and talked almost every evening. He said: “My father treated me as if I was an adult.” Henry said that his close relationship with his Dad was more than just between a father and son; they were close friends. You know, our children will become like the people who spend the most time with them being their friend. hurst/PAGE 11
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SONA 2013: poverty as spiritual issue
L
IFE’S INSPIRATIONS: “My son, do not forget my teaching, but keep my commands in your heart, for they will prolong your life many years and bring you peace and prosperity…” (Proverbs 3:1-2, the Holy Bible). -ooo NOTES FOR PNOY’S 2013 SONA: I hope that those who are writing the State of the Nation Address (SONA) of President Aquino, to be delivered during the opening of the 16th Congress on Monday, July 22, 2013, will endeavor to read or listen first to the media interview of Cebu officials of the National Statistics Office (NSO), the National Statistical Coordination Board (NSCB), and the Department of Social Welfare and Development (DSWD). Why? Because these officials are saying that, based on official records of their agencies, nothing changed for the better for the poor, despite the fact that President Aquino has been chief executive of this country for the last three years, and despite his government’s claim that the economy has already improved tremendously. Some 27.9 percent of the population remained poor, they said. The officials, Gil Melchor Rubia (Cebu district officer of NSO), Erlinda Parame (Regional Convergence Coordinator of DSWD), and Lydon Suico (provincial statistician of Cebu NSO), are in effect saying that the President should not claim in his latest SONA that the plight of the poor has improved under his term, because the poor, or some 30 million of them, have remained poor anyway. -ooo EFFORTS TO FIGHT POVERTY NOT ENOUGH: The statistics rattled off by these officials during their interview are quite revealing: in 2009, or a year before President Aquino assumed the presidency, poverty incidence (the ratio of people below the poverty line in relation to the total population) was at 28.6 (or roughly, 29 million, on an estimated population of 90 plus million). Translated in layman’s language, this means that during the waning years of President Arroyo’s term, there were 29 million Filipinos who lived below the poverty line. For the first semester of 2012, on the other hand, poverty incidence was at 27.9, which is about 30 million, more or less, on an estimated population of 100 million. This means that the number of Filipinos who were poor
O
K
before Aquino remained the akampi same after he took his oath Mo A ng Batas and even after three years. By Atty. Batas Mauricio In unison, the officials noted that this meant that the poverty alleviation programs of the Aquino government--Pantawid Pamilyang Pilipino Program (4Ps), Sustainable Livelihood Program (SLP), and the Kapit-Bisig Laban sa Kahirapan–Comprehensive and Integrated Delivery of Social Services Program/ National Community Driven Development Program (Kalahi-CIDSS/NCDDP)---did not really help the poor at all. -ooo POVERTY OF PINOYS AS AN SPIRITUAL ISSUE: How come there are still many poor Filipinos, even under a presidency which seeks to uplift the poor and eradicate poverty? There will be many reasons, but then, my take is that, the programs being undertaken right now are not really enough to make a difference. And I am not even talking about the money aspect of these programs because, as is very clear, this government has a lot of money for the poor. What I meant is that, parallel to these “human” efforts to make lives for millions of poor Filipinos much better, this government should have endeavored to undertake “spiritual” efforts to bring Filipinos back to God. As I have been saying here time and again, poverty is not only an economic, social and political issue. It is as much an issue of spirituality---or the lack of it. Poverty is, in fact, a curse promised by God to those who are no longer listening to Him, and who are no longer obeying His commands. If we want to fight poverty, we must also make our people listen to God and obey Him all over again, as the Book of Deuteronomy of the Bible has admonished. President Aquino can use the last three years of his term to accomplish this, and leave a lasting legacy to the nation. REACTIONS? Please call me at 0917 984 24 68, 0918 574 0193, 0922 833 43 96. Email: batasmauricio@yahoo. com, mmauriciojr111@gmail.com.
BSP urges: Save in banks
ne of the central themes in the Bangko Sentral’s financial education and literacy advocacy is the need for our citizens not just to save – but to save in banks. While the Bangko Sentral has made progress during the last ten years, the Bangko Sentral still has more ground to cover. Ten years ago, only one out of five Filipinos had savings. Today, this figure has improved to one out of four. But of those who had savings, only two out of five saved in banks. The Bangko Sentral maintains that saving in banks would still be more advantageous compared to keeping money at home – in piggy banks, cookie jars, or under the mattress. Savings in banks earn deposits. Savings in banks are mobilized by these institutions for on-lending to productive enterprises or for consumption. Thus savings in banks help grow the economy. Finally, all things being equal, savers in banks are protected from risks such as thefts, fires, and similar occurrences. During our regular financial education and literacy programs, we are almost always asked the following question: “You encourage us to save in banks. But you keep closing banks! How then do you expect us to save in banks?” Very good observation but something that can be explained. First, the total size of closed banks is but a small fraction of the entire financial system. We also explain the closures by clarifying the role of the Bangko Sentral as the supervisor and regulator of banks. That the mandate of the BSP is to make the entire banking system strong and resilient. That strict rules and regulations are put in place to ensure that banks have adequate capital, that they are under good management and that those who accept other people’s money as deposit act with prudence at all times and that they do not engage in unsafe and unsound banking practices. To ensure that banks comply with BSP regulations,
SPEAKING
banks are subjected to regular examination, and, at times, O ut special examination. By Ignacio Bunye Every now and then, a bank is found to be noncompliant with banking laws and regulations. The bank is asked to shape up. Usually, this is done by placing the bank under Prompt Correction Action or PCA. The bank in question is asked to come up with a firm commitment to address immediately the supervisory concern. This is documented through a time-bound commitment letter. For example, if the capital of the bank has dwindled significantly because of financial losses, then the management of the bank has to commit to make up the deficiency within a specified time frame. Incidentally, the signing into law by President Aquino of RA 10574, which allows foreign equity up in rural banks up to 60 percent, is a welcome development. This law opens up more opportunities for rural banks to improve their capital position. Some banks successfully comply with their commitments and eventually exit or graduate from PCA. Others don’t and continuously deteriorate. Just like a surgeon, the BSP is sometimes left with no choice. In order to prevent damage to the whole body, the solution is the removal of the diseased tissue. That’s why the BSP has to close some banks. It is for the protection of the financial system and, in the final analysis, also for the protection of savers in general. Note: My book, Central Banking for Every Juan and Maria is now available in main branches of Fully Booked, Power Books, National Book Store, and University of the Philippines Press. You may e-mail us at totingbunye2000@gmail.com. Past articles may be viewed at http://speakingout.ph/ speakingout.php.
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Manager wins prestigious competition, establishment’s earnings go up by Remee Monique O. Espiritu, Staff Writer
Business at Bo’s Coffee Club in Cetrio Ayala Mall is ‘looking good’ according to manager and Filipino Bartending Innovator’s (FBI) co-founder Mr. Lyndon Recera. Mr. Recera says t hat there was a 10-15% increase in their earnings at Bo’s Coffee Club compared to ot her establishments in the mall that experienced an 8% decrease due to the tragic suicide incident that happened at said mall about a month ago. The amount that went up in sales was equal to 105,000-115,000 pesos. T h e re a s on for t h e increase in ea rnings at the said coffee shop is Mr. Recera’s recent winnings i n pr e s t i g i o u s b a r i s t a competitions namely the Philippine Barista Cup 2013 where he won 2nd place a nd t he Gra nd Ba r ist a Cup 2013 where he placed 1st, competing against 15 and 10 other participants respectively. Both events happened Ju n e 2 0 (c omp e t it i on , elimination happened the day before) and June 21 respectively at Davao City, and since then Bo’s Coffee Club has had improved earnings.
“ I t ’s a g o o d p o o l for adver t isi ng a nd for knowledge on coffee.” says Mr. Recera, who has passion for what he does and is a product of TESDA training at Jamaican F&B Training Center located at Carmen, Cagayan de Oro City. Mr. Recera has been joining these competitions since 2011 and in his first two years won 1st place, and 3 years from now dreams about opening his own coffee shop. Espresso Spice was the name of his own original cof fe e conco c t ion t hat won him a place at these prestigious competitions wherein he prepares hard for over 6 months before the said competition. “Dili sayon mag barista pero enjoy (It’s not easy being a barista but it’s enjoyable).” says Mr. Recera, adding that making the perfect coffee is not as easy as it looks as every coffee bean is sacred and each part of the coffee machine should be known by heart to someone who considers coffee a passion.
MissCdeO 2013 Candidates Profiles
Mr. Lyndon Recera as he prepares an espresso at Bo's Coffee Club at Centrio Ayala Mall, 2nd Floor. Photo by R.M. Espiritu
Acer delivers “inTENse”-ity for its 10th year bash
A
mid an im mensely “inTENse” ambiance, Acer Ph ilippi nes celebrated its 10th year in the countr y with a bang, simultaneous with the launch of its newest and most exciting line-up of IT products that feat u re new benef its for today’s modern-day explorers. T h e s e n e w b r e e d of IT users — professionals, st udents, busi nessmen — continue to reinvent themselves, and Acer’s new products perfectly complement their need to lead their lives in an enhanced yet simplified way. This is Acer’s answer as it emboldens itself to be more aggressive, imaginative and future-looking in an even more inTENse way. The new products, launched via a heart-pounding and fashion-inspired fashion show, introduced the touchfriendly Aspire R7 notebook, the Aspire P3 Ult rabook for inTENse freedom and f lexibility, the Acer Iconia W3-810 for an inTENse mobile experience, and Acer’s Iconia A1-810 tablet that delivers an inTENse performance. Next in line were products that fit everyday explorers who look at inTENse play so definitely, the Acer Liquid E2 smartphone fits the bill wh i le t he u lt r at h i n a nd super light Aspire V5-122P notebook delivers an inTENse charisma. The other products held showcased were the Acer Aspire V5-472P for those with an inTENse personality while inTENse brilliance is provided by the Acer K335 LED projector. The Acer
TravelMate P245 & P255 and the Acer Veriton Series of desktops, finally, round out Acer’s inTENse breed with its promise of inTENse productivity in powering up the new and leading-age enterprises of today. It was an evening that featured not only products and “inTENse-ity” but also more fun as Manuel Wong, General Manager of Acer Philippines, was featured taking on several challenges to mark their 10th year. One was as a counter person at the Acer Service Center in Manila, where he received customers like those with problems about their Acer units. Next were being a receptionist at the Acer head office in Makati City, and finally as sales staff at the Acer Concept Store. It was a fun and rip-roaring video, particularly for the media in attendance who enjoyed the fun, reality-show type of challenges that captured the amiable Acer executive in his most genuine and sincere yet hilarious demeanor. But more than anything else, it was tr uly a night to remember as Mr. Wong promised to deliver, together with the entire Acer team, a lineup of bet ter, more i n n ov a t ive a n d q u a l it y yet af ford able products, complemented by a more inTENse customer-focused brand of service. See more of Acer and its line of inTENse products at www.acer.com.ph. Follow Acer Philippines on Facebook and Twitter.
KEENA ALYSSA PREL STREEGAN DACUBOR The daughter of a College Dean and an Entrepreneur, Keena is currently a 3rd year student taking up Bachelor of Science in Tourism Management at Liceo de Cagayan. Coming from Barangay Canitoan, a young 18-year-old as herself dreams one day of becoming a flight attendant, or an ambassadress for the City and the Philippines and learn the many different cultures and promote the beauty of her city CDO and her country the Philippines in her travels.
LYCIEL MAE R. MABALO
MARY MIKAELA C. MONTALBAN
MARY JOY OBSIOMA
A beauty with a striking smile who is not only elegant, but business-minded as well. A resident from Barangay 26 and being already in her 4th year in Business Administration and majoring in Marketing Management, Lyciel sees herself to be a successful businesswoman in the near future. But not just any other businesswoman at that, a businesswoman with a big, stable company with several branches to provide a large number of job opportunities to the unemployed. “A business woman who not selfish, but selfless”.
Hailing from Barangay Lapasan and a graduate of Technology Communication Management in MUST, her will to be part of a better change for Cagayan de Oro City through her influence by joining Ms. CDO was what motivated her to join in the first place. A compassionate lady who wants to help the needy in her own little way, if ever she was crowned Ms. CDO she would assist in the information dissemination of education to the less fortunate Kagayanons.
A determined gal from Barangay Tablon who says she won’t ever stop until she got to where she planned and dreamed of, Mary Joy is currently in her 3rd year at Ateneo de Cagayan taking up AB Sociology. A passionate girl who believes that being part of the prestigious Ms. CDO competition will show everyone that Cagayan de Oro is one of the best cities in the country. She dreams of success and a stable job that will someday help her family.
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205 barangays and 25 towns in the three regions. A total of 395.2 kilometers of farm-to-market roads would also be constructed, as well as, a total of 952-linear meter of bridges and 58 post-harvest facilities. The project, in line with the 2011-2016 Philippine Development Plan, is expected to help enhance the agriculture sector by making it more competitive, sustainable technology-based. “The governments of Japan and of the Republic of the Philippines recognize the need to contribute to ensure food security and further improve self-sufficiency through rationalization of agricultural land use.” The ceremonial launch was led by MinDA Secretary Lualhati R. Antonino, Agrarian Reform Undersecretary Jerry Pacturan, Office of the Presidential Adviser on the Peace Process Assistant Secretar y Howard Cafugauan, Davao City Mayor Rodolfo Duterte and Counselor Koichi Ibara of the Embassy of Japan’s Consular Office in Davao. (BM)
Export... from page 4
taste of foreign buyers. Each cup of any of these products is thus, both nourishment and an experience in delightful taste, Cruz said. Meanwhile, Amalia JayagDatukan, DA 12’s Regional Executive Director said, exportation of premium rice to other countries will encourage Filipino farmers to embark on planting special rice varieties since it has huge export potentials. She said that the department is willing to support individual and private rice exporters so that they can find market for global exportation. She also stressed that the department is giving special attention to its Rice Export Program where Region 12 plays a very significant role. (PIA)
Cartel... from page 4
Aboitiz... from page 3
In 2012, Carpio said the foundation spent P219 million or 54 percent of its total budget allocation for educationrelated initiatives such as build and repair of schools and laboratories; donation of books, computers, and other equipment, and funding of scholarships. Majority of the programs during the previous year was directed to beneficiaries in the Visayas region, where Aboitiz Foundation used to have its headquarters before it moved to Taguig, Metro Manila early this year. Under the infrastructure building program, he said the foundation donated a total of 103 standard classrooms to various schools nationwide last year. Its partnership with the Aklat, Gabay, Aruga Tungo sa Pag-angat at Pag-asa (AGAPP) Foundation – a group that advocates literacy development and early childhood care and development – paved the way for the construction of 42 more AGAPP Silid Pangarap classrooms. Since the partnership with AGAPP started in 2011, Aboitiz Foundation has turned over a total of 134 Silid Pangarap classrooms or 67 school buildings, he added. To date, Carpio said the foundation has reached out to some 50,000 students across the country with 597 classrooms. These facilities are complete with tools and equipment such as desks, blackboards, and fixtures, that will help improve the students’ academic performance. Carpio noted that the foundation
is also actively encouraging learning in Science, Language and Computer subjects through the donation of science laboratories complete with equipment and speech laboratories, and the refurbishment of computer laboratories and stipend support to Information Technology teachers. Last year, the foundation, through the help of the Aboitiz companies, donated a total of 150 computer units to various public schools in 11 provinces nationwide under its Integrated Computerization program, he said. Aboitiz Foundation also provides beneficiary schools a system called “Thin Client,” which links the schools’ computers to a central server that gives them higher storage and reduces maintenance costs. In 2012, 15 public schools received 178 of the said system. Running for seven years now is the Library Kit project where the foundation donates books and other reference materials like almanac, dictionaries, encyclopedias, and TV sets to beneficiary schools. Apart from the donation of physical items, Carpio said Aboitiz Foundation, through its scholarship programs, has also given a total of 2,809 students access to quality education. Of the total, 250 are pre-school students; 208, elementary; 1,652, secondary; 295, tertiary; 61, postgraduate; 323, vocational, and 20, special needs, he further said. (PNA)
Fund... from page 4
hope of increasing income of farmerbeneficiaries in 12 settlement areas,
investigating this. It started in some key markets and eventually affected us here in Region 12,” she said in an interview over TV Patrol Socsksargen. In this city, the prices of premium commercial rice products went up to as high as P43 a kilo this week from P37 a week ago. Local retailers are selling the Indian rice variety at P43 a kilo, chiquita and banay-banay at P42, seven tonner at P41 and C-4 at P40. In South Cotabato and other neighboring areas, premium rice prices are now sold at P38 to P40 a kilo based on a monitoring conducted by DA-12’s price monitoring section. Bai Dido Samama, agribusiness and marketing assistance division chief, said they are currently investigating the increases in commercial rice prices in the region as it appeared to have been caused by an “artificial rice shortage.” She acknowledged that the months of June to August are traditional lean months in terms of palay harvests and price increases are expected but noted that the latest adjustments were “quite high.” “Some rice traders might have been hoarding rice supplies to create an artificial shortage,” she said. Aside from this, she said the prices and availability of commercial rice prices in the area might have been also affected by commodity flow or the movement of locally-produced rice supplies to other regions. Samama said they initially referred the matter to the National Food Authority (NFA) and the latter affirmed that the region’s current rice inventory remained at sufficient level. Region 12, which produces an average of 3.67 metric tons (MT) of palay per hectare, posted a total yield of 402,514 MT in the first quarter of the year, according to the Bureau of Agricultural Statistics. Some 341,890 MT were produced by the region’s irrigated palay areas and 60,624 MT by the rainfed areas. In 2012, BAS noted that Region
12’s total palay output reached 1.27 million MT or a rice sufficiency rating of 128 percent. The region ranks fifth among the country’s 17 regions in terms of palay yield and accounts for about 7 percent of the national harvest of 18.03 million MT. Region 12 has remained as Mindanao’s rice granary, producing about one-third of the island’s total palay production that reached 3.98 million MT last year. NFA Region 12 has already intensified its rice distribution or market injection activities in various markets in the region to help offset the impact of the increasing commercial rice prices. The NFA rice is presently sold in the local markets at P25 to P28 a kilo, depending on their variety and source or origin. The agency’s rice products are composed of imported and local rice, which are classified as well-milled, strong regular-milled, regular-milled, Iron-fortified and remilled Iron-fortified. (MindaNews)
DAR... from page 4
Arccess will enable agrarian reform beneficiaries (ARBs) to increase their produce so that they meet their consumption needs and to have surplus as well. The program also considers the capacity, capital and equipment requirements for the different crops and commodities such as rice, corn, sugar, coconut, banana, cassava, fruit trees and high yielding crops. Common Service Facilities: Common Ser vice Facilities (CSFs) is one intervention provided by DAR under the Arccess program for ARBs. It is implemented through a cooperative or farmers’ associations. “This is a kind of grant with minimal counterpart from farmers and that agricultural equipment and machineries are provided by the department to the beneficiaries depending on the need of certain equipment,” Arccess point person for DAR-ZN Reynaldo Manigos said in an interview. “ARBs may request equipment and machiner y they need like threshers, dryers, shellers, automatic planters, sprayers, coffee roasters, cassava granulators, tractors and hauling trucks,” Manigos added. However, CSFs can only be given if the Agrarian Reform Beneficiaries Organizations (ARBOs) are ready to manage and optimize the use of the equipment. M a n i g o s fur t h er s ai d t he beneficiaries have to provide for the manpower, equipment warehouse, insurance policy, registration and operational expenses. Community-Based Enterprise Organizers (CBEOs): To provide the beneficiaries with professional services is another intervention under the Arccess program. DAR will hire professionals as Community-Based Enterprise Organizers (CBEOs) to assist farmers in the operation and management of their cooperatives or businesses for two years. Agricultural Extension Technicians will also be hired to assist the farmers in farm production technology. Arccess primarily addresses the need for production assets of ARC-ARBOs Agrarian Reform Community-Agrarian Reform Beneficiaries Organizations (ARCARBOS), employing creative support services approach which has a two-pronged objective: agricultural productivity and agri-enterprise development. CBEO will develop a business plan and manage the CSFs, coach the ARBs on agri-enterprise planning and management, create business units composed of ARBOs that will manage the CSFs, and build the capacity of ARBO business units to take over the management of the CSFs. DAR will finance the cost of equipment and facilities including the cost of BDS and CBEO engagement. The Beneficiaries: Agrarian Reform Communities
(ARCs) with foreign funds are disqualified from the program. In Zamboanga del Norte, the first batch of ARBs to receive various equipment and machinery come from the municipalities of Polanco, Mutia, Roxas, Godod, and Sindangan. ARBs of Siari Valley of Sindangan and those from the municipalities of Piñan and Tampilisan are the second batch to receive the equipment and machinery. The third batch to receive such equipment and machinery will be the ARBs from Siocon town. “The beneficiaries were so happy to receive those equipment and machinery as that was their first time to have them,” Manigos said. (PIA)
Food... from page 4
the world each year could fill 70 million Olympic-sized swimming pools, while the amount of cropland used to produce wasted food is equivalent to the size of Mexico. Some 28 million tons of fertilizer are used annually to grow this lost and wasted food. The inefficient use of fertilizers is linked to the growth of “dead” coastal zones around the globe and to climate change. Separate analysis coordinated by the FAO to be published soon indicates that if food loss and waste were a country, it would be the third highest emitter of greenhouse gases after the United States and China. The study showcases simple, low-cost solutions for reducing food loss and waste that are already delivering significant environmental and economic benefits to communities across the globe. They range from community food banks in Australia, to the use of metal grain silos by farmers in Afghanistan. Replicating and expanding these initiatives could significantly reduce the 1.3 billion tons of food lost or discarded worldwide every year, and make major improvements to global resource efficiency. “Everyone from farmers and food companies to retailers, shipping lines, packagers, hotels, restaurants and households has a role to play,” said Steiner. To reduce portion sizes and therefore the amount of food thrown away each day in their cafeterias, some universities in the United States have discontinued the use of trays and introduced “pay by weight” schemes and other incentives. One university found that after going “trayless”, it discarded almost 13 metric tons less food than in previous years, and conserved over 100,000 litres of water annually. Financial savings amounted to $79,000 per year. In Afghanistan, insufficient storage can be a major source of food loss for farmers because structures often do not keep produce in airtight conditions. A FAO project in Afghanistan provided metal silos to 18,000 rural households. Recipients of the silos soon reported higher net incomes due to lower food losses, which decreased from 15 to 20 percent to 1 to 2 percent per year. In Sri Lanka, introducing studier plastic crates to replace bags or sacks previously used to transport food reduced vegetable losses by weight from 30 percent to 5 percent. A similar project in the Philippines using plastic crates increased the value of a kilogram of fruit and vegetables by 16 percent. Australia’s non-profit organization SecondBite collects food from farmers, retailers and other donors and distributes it to community groups in need. Last year, SecondBite reused and redirected 3,000 tons of fresh food that would otherwise have been discarded. The “zeer” evaporative cooler system, developed by a teacher in Nigeria, can preserve fruit and vegetables without refrigeration. The system costs less than $2 and can hold up to 12 kilograms of produce. Tomatoes and guavas, which would last around two days without storage, last up to 20 days in a zeer. UNEP, together with FAO and WRAP (Waste and Resources Action
Program) is developing a food waste prevention and reduction tool kit with industry experts, supermarkets, governments and other partners. The initiative will suppor t governments, companies and cities to better assess their own levels of food waste, pinpoint areas in their businesses and communities where food is being needlessly wasted, and devise strategies to reduce this waste. The tool kit is expected to be available for widespread deployment before the end of 2013, and aims to underpin a transition to a less wasteful world. (ScienceNewsPhilippines)
Financial... from page 5
selling is included in the revised rules. The regulator has limited the products to those without investment risk and allows only banks with a Camels rating of at least “3” or its equivalent, and without major supervisory concerns to perform cross-selling. Camels is a BSP system that rates banks on their capital adequacy, asset-quality management earnings, liquidity and sensitivity to market risk. By ex tending loans and other financial services to lowincome earners, the rural banking industry will again play a key role in the government’s ultimate goal of reducing poverty, by making financial services reach more Filipinos. It may be considered baby steps for now, but at least it’s a step in the right direction. (MT)
Orders... from page 5
certification standards head Marikor Akol, source code and programming exper t Dr. Pablo Manalastas, Watch conveners Bishop Broderick Pabillo, Mother Superior Mary John Mananzan, OSB, human rights law yer Greg Fabros, CenPEG Executive Director Evita Jimenez and International law expert Harry Roque. Executive Secretary Paquito Ochoa Jr. and Deputy Presidential Spokesman Abigail Valte were also impleaded in the case. Mejos was also included because as finance director of the poll body, the group said “he would be in the position to know who the recipients are of the intelligence funds and how these funds were disbursed/are being disbursed and for whatever purpose.” “Ochoa was impleaded as a representative of the Office of the President, which is the source of the P30 million intelligence fund provided to the COMELEC to spy on or otherwise place under surveillance, and gather information from, critics of the PCOS automated elections technology suite,” the petitioners said. The petition stated that AES Watch issued a public statement asking Brillantes “to publicly declare that the P30-million intelligence fund was not meant to spy on critics of the PCOS technology.” But the petitioners said Brillantes chose to keep silent. They claimed that Brillantes and Valte are being impleaded in the suit because from their public statements, “it would appear that they are the most informed about the information-gathering and/ or surveillance activities being conducted by intelligence assets tapped by the COMELEC and funded through the P30-million largesse from the Office of the President against Aggrieved Parties and other members of AES Watch.” “There are serious grounds for the issuance of the writ in this case because of violations by respondents of their right to privacy in life, liberty and or security through the gathering, collecting or storing of data or information regarding the person, family, home and correspondence of the aggrieved parties,” they added. They also asked the high tribunal to order the respondents to refrain from making any statements that threaten them with surveillance as well as prosecution for alleged election sabotage. (MT)
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Boost... from page 1
than double as compared to the country’s 7.6 percent growth in exports last year. Northern Mindanao, on the other hand, posted an exports growth of 19 percent in the first quarter of this year. PhilExport-11 Corporate Secretary Ireneo D. Dalayon said MEC is the perfect venue for key stakeholders in the export industry chain including farmers, producers, food processors, ser vice providers, manufacturers, and key government officials to consolidate in order to capture more and stronger foreign markets. He said in the 20 years of PhilExport’s existence, this is the first time it will organize all export stakeholders in the region to further boost the industry in light of the country’s current favorable economic growth. “We need to organize, especially the small farmers to get a better market for our products,” he said. Domingo Ang, PhilExport chairperson joined Dalayon saying with the Philippines e c onom ic g row t h now already next to China, “this the moment, this is the time to do it,” he said referring to the MEC. “We have to consolidate the export sector, we have a better rate in Mindanao, we are bound to be the next exporter capital in the country,” he said. Rome o Montene g ro, director for Invest ment Promotion, International Relations and Public Affairs of the Mindanao Development Authority (MinDA) said consolidating Davao Region’s export sector specially the small-scale exporters is key to obtaining a strong and one voice to capture the international market. MinDA is among the m aj or c o - op e r at or s of MEC with other national government agencies such as the Department o f A g r i c u l t u r e ( DA) , Department of Trade and Industry (DTI), Mindanao Business Council (MBC) and Philippine Coconut Authority (PCA). (PNA)
Sales... from page 1
to P115,000. Re c er a , who i s a l s o c o -fou nder of Fi l ipi no B a r tend i ng I n nov ator s (F BI ) c lu b, a t t r i bu t e d Bo’s Cof fee’s continued popularity to his recent
performances in various bartending competitions. He won second place in the Philippine Barista Cup 2013, and overall champion in the Grand Barista Cup 2013 which were both held in Davao City last month. Recera said t he t w in awards boosted Bo’s Coffee’s rise to prominence. “It’s good advertising and it further enhance knowledge on coffee,” he said. Recera learned his skills in bartending from TESDAled training at Jamaican F&B Training Center located in Brgy. Carmen. With his ample training, Re c er a s t a r te d joi n i ng bartending competitions since 2011 and won various awards. Among his original coffee concoction that brought him awards is the Espresso Spice. “Dili sayon mag barista pero enjoy,” said Recera. He sa id ma k i ng t he perfect coffee is not as easy as it looks as every coffee bean is sacred and each part of the coffee machine should be known by heart to someone who considers coffee a passion. Established in Cebu in 1996, Bo’s Coffee was founded by coffee enthusiast and entrepreneur Steve Benitez. Since then, it grows as among the country’s top homegrown coffee shops.
ARMM... from page 2
government’s money within the impoverished area of autonomy, sources said. On Monday, Hataman lauded the latest forging of the wealth-sharing annex by the government and the Moro Islamic Liberation Front (MILF) peace panels in Malaysia. The new deal contains income generation provisions for the proposed Bangsamoro new region much better than the ARMM’s, according to the government and MILF panels. The state panel described as a “jewel in the crown” of a provision that seeks the “automatic” downloading of nationa l government subsidies to the proposed region. For 23 years, ARMM has been defending its budgets in grilling Congressional hearings. (MB)
Delay...
from page 2 impacts of climate change. During the first day of the meeting, experts suggested a list potential sources of funds
from which the developed countries could draw from to fulfill their promise to provide $100 billion every year by 2020. A mong t hem i s t he removal of fuel subsidies in adva nced economies which could free at least $500 billion annually. But such proposal is being debated upon. The participants of the First Meeting of Experts on Climate Finance are expected to come up with a list of recommendations, which will be brought up during the next UNFCCC meeting to be held in Bonn, Germany, within the year. In a statement, Flora Santos of the Pagkakaisa ng Taumbayan para sa Tubig at Karapatan, an observer in the on long-term finance experts meeting, said while the discussion of experts on how to raise funds for longterm finance was a welcome development, she said the UNFCCC, especially the developed countries, should be reminded of the need to act now.” “The delay of climate finance would be disastrous for developing countries like the Philippines. The disasters that our people had gone through did not only cost lives and properties, it also accounted to around 5 p erc ent of ou r GDP [gross domestic product]. Vulnerable communities must be able to respond and adapt to the impacts of climate change. Without adequate finance, we will rema i n defenseless a nd unprepared,” Santos added. According to PMCJ, a new climate finance structure must now prov ide new and additional funds that prioritize public investments as a main source for climate financing. “…Developed countries and corporations must not rake in profits off the misery and devastation experienced by vulnerable communities. On the contrary, climate finance is precisely to hold developed countries liable to the climate crisis,” Arances added. The experts meeting will discuss the parameters of pathways for mobilizing scaled-up climate finance a nd e x a m i ne e n a bl i n g environment and policy frameworks in the context of mobilizing and effective de ploy ment of c l i mate finance. At the 2012 UNFCCC, the parties decided to embark on a work program on LTF in order to mobilize $100
billion per year by 2020 for climate finance. “Climate finance must not come in the form of lo a n s or d e bt- c re at i ng inst r u ments. Instead of further pushing developing countries into indebtedness, developed countries must own up their responsibility to provide climate finance,” lawyer Aaron Pedrosa of the Freedom from Debt Coalition said. (BM)
Borrow... from page 5
market], first week for the bills and third week for the bonds. It would still be a consolidation of all our issuances for the bills and the bonds,” she added. Last week, de Leon said that the government may borrow $2.2 billion from foreign debt markets and multilateral agencies in 2014. Of the amount, de Leon said that the government is considering selling $1 billion worth of debt notes, and $1.2 billion in Official Development Assistance (ODA). The national government decided to return to the offshore markets next year after its absence in 2013 due to much favorable domestic conditions. (MB)
Hurst... from page 6
T h is is of ten why a teenager makes bad choices. He follows the example of other teenagers because they spend more time being his friend than his parents do. Jesus Christ shocked everybody when he said that God created us to be not only his children, but also His close friends. Jesus said God loves us so much that He wants us to spend time with Him every day and feel so close to Him that we call Him “Dad.” And today, if you will ask Jesus to forgive you for living your own way, He will make you God’s child and friend. Then, as we learn to live Jesus’ way, we who are fathers can learn to become the loving dad and friend our children need. Just Think a Minute…
By MYRNA M. VELASCO Contribiutor
PUBLICLY-listed Alsons Consolidated Resources Inc. (ACR) has purchased the 40-percent equity held by its Thai partner EGCO International in its subsidiary Conal Holdings Corporation (CHC), the holding firm of the Alcantara group’s ventures into the power sector. “With the acquisition of EGCO B.V.I.’s share in CHC, ACR will own 100% of the power holding company,” Alsons has noted in its disclosure to the Philippine Stock Exchange. The cost of the buyout was not made public, but the Alcantara firm stated that such acquisition will be “increasing (its) net income attributable to the parent in ACR’s earnings.” In a separate statement, EGCO Group president Sahust Pratuknukul noted that the “disposal of (its) interest will allow EGCO to deploy the proceeds and its resource on new investment opportunities in the Philippines.” The Thai firm’s equity in Conal Holdings covered two power facilities and the management company Alto Power Management Corporation. The plants are the 55-MW diesel facility of the Southern Philippines Power Corporation; and the 110-MW diesel plant of Western Mindanao Power Corporation. EGCO added that the sell-down was decided “considering the expiry of PPAs (power purchase agreements) of such assets is approaching and additional capital is needed for new project investment.” The Thai company has been eyeing to expand its 460-megawatt coal fired plant in Mauban, Quezon, with the intent of adding 500MW. Meanwhile, Alsons emphasized that “upon completion of the agreement, ACR will require full control of CHC.” It stressed that such buyout will enable Alsons “to consolidate its ownership and control of the Mapalad Power Corporation’s Iligan diesel power plant”, being a valuable addition to its power generation portfolio. “The agreement will give ACR the opportunity to continue pursuing the development of new projects in Mindanao and other areas,” the Alcantara firm stressed.
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