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Yields on Treasury bills may be mixed before Fed, BSP meetings

BW FILE PHOTO

RATES of Treasury bills (T-bills) to be offered on Monday may be mixed as players await the US Federal Reserve and Bangko Sentral ng Pilipinas’ (BSP) monetary policy decisions this week.

The Bureau of the Treasury (BTr) will auction off P15 billion in T-bills on Monday, or P5 billion each in 91-, 182-, and 364-day papers. This is the last offering of government securities (GS) for 2024.

T-bill yields could track the mixed movements in secondary market rates on Friday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“The recent increase in short-term peso interest rates could be partly attributed by crossing-the-year premiums on peso funds amid some window-dressing activities as the accounting year-end draws closer, a consistent pattern seen for many years already,” he added.

At the secondary market on Friday, yields the 91- and 182-day T-bills went up week on week by 14.49 basis points (bps) and 8.47 bps to end at 5.8404% and 6.0571%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data as of Dec. 13 published on the Philippine Dealing System’s website.

Meanwhile, the 364-day paper inched down by 0.65 bp week on week to yield 6.0739%.

“The GS market saw two-way interest [on Friday] on a relatively quiet market following mixed US economic data overnight,” a trader said in an e-mail.

Secondary market yield movements were mostly driven by anticipation for this week’s monetary policy meetings, the trader added.

The Fed will hold its last policy review for the year on Dec. 17-18. Markets fully expect a cut at the upcoming meeting, but only price a roughly 24% chance of another one in January, with March the most likely point for another move, according to CME’s FedWatch tool, Reuters reported.

The US central bank started its easing cycle in September with a 50-bp cut and followed it up with a 25-bp reduction at its November review, bringing the fed funds rate to the 4.5%-4.75% range.

Meanwhile, the BSP will meet to discuss policy on Dec. 19 (Thursday). A BusinessWorld poll conducted last week showed that 13 out of 16 analysts expect the Monetary Board to reduce benchmark borrowing costs by 25 bps for a third straight meeting, which would bring the policy rate to 5.75%.

The BSP kicked off its rate-cut cycle in August with a 25-bp reduction. It cut borrowing costs by another 25 bps in October to bring the target reverse repurchase rate to 6%.

Last week, the BTr raised P15 billion as planned from the T-bills it auctioned off as total bids reached P56.463 billion or almost four times as much as the amount on offer.

Broken down, the Treasury borrowed the programmed P5 billion from the 91-day T-bills as tenders for the tenor reached P13.973 billion. The three-month paper was quoted at an average rate of 5.774%, up by 14.4 bps from a week prior, with accepted bids yields ranging from 5.629% to 5.82%.

The government likewise made a full P5-billion award of the 182-day securities, with bids reaching P16.38 billion. The average rate of the six-month T-bill stood at 5.922%, up by 1.7 bps week on week, with accepted rates at 5.875% to 5.94%.

Lastly, the Treasury raised P5 billion as planned via the 364-day debt papers as demand for the tenor totaled P26.11 billion. The average rate of the one-year debt increased by 3.1 bps to 5.968%, with tenders accepted having rates ranging from 5.938% to 5.988%.

The government borrows to help fund its budget deficit, which is capped at P1.52 trillion or 5.7% of gross domestic product this year. — Aaron Michael C. Sy with Reuters

Mango fashion tycoon Andic dies in mountain accident

MADRID — The founder and owner of fashion empire Mango, Isak Andic, died on Saturday in a mountain accident, police said. He was 71.

The businessman slipped and fell over 100 meters from a cliff while hiking with relatives in the Montserrat caves near Barcelona, a police spokesperson said.

“His departure leaves a huge void but all of us are, in some way, his legacy and the testimony of his achievements. It is up to us… to ensure that Mango continues to be the project that Isak was ambitious and proud of,” Mango’s chief executive officer, Toni Ruiz, said in a statement.

Born in Istanbul, Mr. Andic moved with his family to the northeastern Spanish region of Catalonia in the 1960s and founded Mango in 1984. He was worth $4.5 billion, according to Forbes. He was a non-executive chairman of the company when he died.

He was seen as a rival to Amancio Ortega, the owner of Inditex, the world’s largest fast-fashion retailer.

Mango had a turnover of €3.1 billion in 2023 with 33% of its business online and a presence in more than 120 markets. — Reuters

Meat imports up 16.8% in 10 months to October

REUTERS

THE volume of meat imports increased 16.8% in the 10 months to October, driven by higher beef and pork shipments, according to the Bureau of Animal Industry (BAI).

The BAI tallied imports of 1.19 billion kilograms of meat during the 10 months, against 1.02 billion kilos a year earlier.

Meat Importers and Traders Association President Emeritus Jesus C. Cham said that imports continue to grow are on track to breach the 1.2 billion kilos of meat imports last year.

“All this has happened despite the volatility of the exchange rate, whose effect will be felt in the new year. With imports still arriving as seen from the utilization rate of the container yards and the slow rate of return of empties, the importers will take stock of the remaining inventory after the Christmas sales and hope the market will remain exuberant,” Mr. Cham said via Viber.

Making up 14% of total imports, beef shipments increased 38% during the period to 51.53 million kilos.

“Beef may end the year with a 50% increase. Clearly, we see the markets appreciating more the value of this red meat,” Mr. Cham added.

Beef from Brazil amounted to 70.86 million kilos, followed by Australia (44.02 million), and Ireland (14.5 million).

Shipments of pork rose 18.6% to 598.28 million kilos during the 10 months, accounting for about 50.2% of all meat imports during the period.

“With the exception of carcasses, all pork items performed strongly with pork meat growing at 25% but offal registering smaller growth at 12%,” he said.

He added that African Swine Fever continues to impact domestic pork production while the lower duty on pork meat is making offal less attractive.

Brazil supplied around 154.51 million kilos of pork, followed by Spain (144.45 million) and Canada (85.82 million).

Shipments of chicken totaled 389.95 million kilos during the period, up 8.6%. They accounted for 32.6% of meat imports.

Mr. Cham said that poultry imports could post an overall increase of 30%, amid higher shipments of chicken leg quarters and mechanically deboned meat.

Brazil remained the top supplier of chicken with 195.32 million kilos, followed by the US (126.91 million) and Canada (14.49 million).

Turkey imports more than tripled to 1.16 million kilos during the period, accounting for 0.10% of the total.

Shipments of buffalo, duck, and lamb continued to decline during the 10-month period.

Imports of duck fell 21.5% to 198,339 kilos, while lamb dipped 9.7% to 603,906 kilos, and buffalo fell 1.9% to 33.01 million. — Adrian H. Halili

Why Trump can’t just end birthright citizenship

CHRISTIAN BOWEN-UNSPLASH

DONALD TRUMP knows that in politics, sometimes you can win by losing.

After making immigration reform a focus of his campaign, Trump, in an interview on NBC’s Meet the Press, promised to end birthright citizenship, calling the concept “ridiculous.” Perhaps the president-elect disfavors citizenship for people born in the US as a matter of policy, but eliminating a legal right guaranteed by the Constitution is a tall order. Even so, it may be that Trump believes that an aggressive stance on immigration is what matters most.

The main obstacle Trump faces is the language of the Constitution. Section 1 of the 14th Amendment states: “All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.”

Trump could challenge that provision in several ways — all likely to fail. First, he could call for a constitutional amendment to change the law. Article V of the Constitution provides for amendment when proposed by two-thirds of both houses of Congress or two-thirds of all states and then ratified by three-fourths. There is a reason our Constitution has been amended only 27 times in our nation’s history. The process was designed to be difficult to protect stability in our governance. In today’s deeply polarized times, the likelihood of a constitutional amendment on immigration seems virtually impossible.

Second, Trump could seek to change the law by legislation. One former Trump administration official has proposed a federal statute stating that children of non-citizens are not “subject to the jurisdiction” of the US. That language would remove them from the protection of the 14th Amendment’s Birthright Clause. This route, too, would likely go nowhere. In addition to the difficulty of passing legislation when the Senate’s thin GOP majority can be blocked by filibuster, such a statute is also poor policy because it would open the door to numerous other problems. Being subject to the jurisdiction of the US means that a person can be brought into court for violating its laws. Placing someone outside the jurisdiction of the US is a privilege we bestow on diplomats to protect them from courts. Immigration hawks would not want to put the children of non-citizens beyond the reach of the judicial system.

That leaves Trump’s best option as an executive order directing federal agencies to disregard the 14th Amendment. Of course, such an order would violate Trump’s oath to support and defend the Constitution, but we have been here before. By denying passports, Social Security numbers, and other citizenship rights, the administration would deliberately invite lawsuits to challenge its conduct. Those lawsuits would likely work their way up to the Supreme Court, where the Trump administration would argue that the Birthright Clause excludes the children of non-citizens in the US unlawfully. But this strategy, too, is likely to fail.

Of course, we have seen legal precedent overturned in recent years on topics ranging from abortion to affirmative action to the authority of administrative agencies. However, unlike those issues, birthright citizenship is a right explicitly outlined in the language of the Constitution, making it more difficult for the Supreme Court’s textualists to reject it. The provision was adopted following the Civil War to ensure the citizenship of formerly enslaved African Americans. A federal statute confers citizenship using the same language.

There is also legal precedent. In 1898, the Supreme Court decided that the provision applied to the children of non-citizens in United States v. Wong Kim Ark. In that case, a man born in California to Chinese immigrants left the country. While he was away, Congress passed the Chinese Exclusion Act, which prohibited him from re-entering. The Court held that his birth on US soil conferred citizenship and permitted his return.

Some scholars have argued that Wong Kim Ark is limited to the children of immigrants living in the country lawfully and does not extend to undocumented immigrants. That argument seems to be refuted by the language of the opinion itself, which states: “The 14th Amendment affirms the ancient and fundamental rule of citizenship by birth within the territory, in the allegiance and under the protection of the country, including all children here born of resident aliens.”

Wong Kim Ark noted that the 14th Amendment’s text excludes several categories of people born in the US, such as the children of diplomats and “of enemies within and during a hostile occupation of part of our territory.” While that language would seem to refer to the children of soldiers in the invading army of a foreign sovereign, Trump could argue that it applies to undocumented immigrants. At least one judge, James C. Ho of the US Court of Appeals for the 5th Circuit, whom Trump appointed, has equated undocumented immigrants with an “invasion” in a different context, but only in dissent. If Ho could not convince even his conservative colleagues on the 5th Circuit bench, it is difficult to see a majority of justices on the Supreme Court buying this argument.

But even legal failure could mean political victory for Trump. He could portray himself as tough on immigration and blame Congress or judges for resisting his efforts. In the meantime, it is possible that just issuing an executive order to end birthright citizenship, along with promises of “mass deportations,” would cause some undocumented immigrants to self-deport or deter them from entering the country in the first place.

The downside is the uncertainty that results when executive orders direct federal employees to take unlawful action. I was serving as a US attorney in Michigan when Trump issued his travel ban in January 2017. The executive order applied to even green card holders, also known as lawful permanent residents, in violation of the due process clause of the 5th Amendment. The order resulted in chaos at airports and land border crossings as federal officials tried to figure out how to reconcile the order with the law. The order was upheld by the Supreme Court only after two revisions.

Of course, real border solutions require comprehensive immigration reform, including far more resources for asylum officers, immigration judges, and border patrol agents, all of whom are overwhelmed by the daily crush of migrants seeking to enter the US. Relief for source countries to reduce the need for people to flee their homes is also part of any long-term solution.

Tough talk about birthright citizenship may score short-term political points, but it won’t solve our country’s fundamental immigration problems.

BLOOMBERG OPINION

A JAC Day in China

Guests were brought to a rainforest in Guangzhou to test the capabilities of the JAC T8 Pro and T9. — PHOTO BY HAZEL NICOLE CARREON

Anhui-headquartered automaker turns 60

By Hazel Nicole Carreon

ESTABLISHED IN 1964, JAC Motors has evolved from humble beginnings to become a major player in the global automotive industry today. The company said it has strived to consistently push the boundaries of automotive technology, delivering high-quality vehicles that cater to diverse consumer needs.

For its 60th anniversary, the car maker hosted the JAC Day 2024 in Guangzhou, China — a showcase of the brand’s rich history, innovative spirit, and commitment to sustainable mobility — for media representatives and partner distributors from the ASEAN, European, and South American markets. The celebration commenced with the China-headquartered brand’s participation at this year’s Auto Guangzhou exhibition where it displayed its electric and plug-in hybrid electric vehicle models, including the RF8 PHEV MPV and T9 pickup — slated to arrive in the Philippines in 2025.

To reinforce its global ambitions, JAC also brought together its brand executives from across the world for a conference discussing its longstanding commitment to making mobility accessible to all. A so-called Global Fans Night was also organized to look back at the brand’s milestones and to recognize the individuals and organizations that have supported JAC for the past 60 years.

“(Through the) decades, we have journeyed mountains and seas with millions of customers worldwide. Together, we write our magnificent story. Your support and compassion has nurtured JAC from a mere seed of dreams into a growing tree,” declared JAC International General Manager Oscar Yu to the event attendees.

JAC also showcased the off-road capabilities of its T8 Pro and T9 pickup trucks at an off-road challenge participated in by guests. Held at a rainforest in Guangzhou, the challenge pushed the vehicles to their limits, demonstrating their ruggedness and performance in demanding terrains.

Attendees were also treated to an exhilarating experience as they took to the winding Linghu Road to drive the RF8 PHEV, JS6 PHEV, JS8 Pro PHEV, and Ytterby electric hatchback. Guests were able to feel the vehicles’ responsive steering, smooth acceleration, and comfortable ride firsthand.

Over the years, JAC has made significant progress in expanding its global footprint. The brand is now present in over 130 countries and regions, and this year’s JAC Day provided an opportunity to connect with these worldwide customers and further strengthen the brand’s international presence.

As JAC turns 60, the company is poised to embark on a new era of growth and innovation. With a keen focus on electrification, intelligence, and globalization, JAC aims to become a leading global mobility solutions provider.

In the Philippines, JAC has been under the distributorship of the Astara Group since earlier this year. Its steadily growing lineup now includes the JS2 Pro, JS4, JS6, and JS8 Pro crossovers; the T8 Pro; and the Ytterby.

“We believe that the brand’s vehicle lineup has a potential to deliver high volume. But first of all, we need to build the dealer network,” JAC Philippines Brand Head Tonette Lee told “Velocity.” Currently, JAC has three fully operational dealerships in the country: In Pasig, Manila Bay, and Iloilo. Poised to open soon are facilities in Calamba, Quezon Avenue, and Alabang.

RCR working to upgrade spaces for modern workforce — CEO

Robinsons Summit Center lobby

RL Commercial REIT, Inc. (RCR), the real estate investment trust company of property developer Robinsons Land, Inc., has recently renovated the lobby of its 37-storey Robinsons Summit Center to enhance tenant experience.

“Premiumization is about creating spaces that inspire — not just with their aesthetics but with the opportunities they offer,” RCR President and Chief Executive Officer (CEO) Jericho P. Go said in a statement.

“At Robinsons Offices, we ensure our tenants feel supported, inspired, and ready to conquer the future,” he added.

The newly renovated lobby was launched on Dec. 12.

“This milestone reflects Robinsons Offices’ commitment to enhancing spaces for the modern workforce, meeting global standards, and offering nothing short of excellence,” it said.

The lobby features polished marble floors, rich wood accents, and bespoke furnishings.

It also has a 10-meter-high ceiling, with natural light from its large windows.

Its centerpiece is a grand clock with a crystal chandelier, displaying four time zones: Manila, Dubai, New York, and London.

The new Robinsons Summit Center lobby is not just a space, but a statement, according to Mr. Go.

“It represents our belief that the Filipino workforce is world-class and capable of standing alongside the best on the global stage. This is a space that inspires confidence, creativity, and pride.”

Robinsons Summit Center also said it maintains its commitment to environmental responsibility.

The building obtained its EDGE (Excellence in Design for Greater Efficiencies) certification in April.

It also boasts proximity to major transport hubs, onsite parking, and floor-to-ceiling windows showing views of the Makati skyline. — Beatriz Marie D. Cruz

China has room to cut RRR further, PBoC official says

REUTERS

BEIJING — China has room to further cut the reserve requirement ratio (RRR), with the average RRR now at 6.6%, a central bank official said on Saturday, according to state broadcaster CCTV.

China said last week it will raise the budget deficit, issue more debt and loosen monetary policy to maintain a stable economic growth rate.

The People’s Bank of China (PBoC) has steadily reduced interest rates and injected liquidity this year as the authorities have made efforts to hit an official economic growth target of around 5%. Interest rates should be strengthened to facilitate transmission and guide the comprehensive social financing costs to a steady decline, PBoC Research Bureau Director Wang Xin said in remarks about specific considerations for China’s next phase of monetary policy implementation.

“As the PBoC’s exploration of buying and selling government bonds in the secondary market becomes more mature, the central bank should in the future use a variety of monetary policy tools to provide sufficient medium and long-term liquidity and maintain adequate liquidity in the banking system,” Mr. Wang said. — Reuters

Yellen warns incoming Trump team against interfering with supervision of American banks

US Treasury Secretary Janet Yellen — REUTERS

WASHINGTON — US Treasury Secretary Janet Yellen on Friday urged the incoming Trump administration to refrain from interfering with what she called critically important appropriate regulation of American banks’ capital levels, liquidity and risk-taking.

Ms. Yellen, who has served as US President Joseph R. Biden’s Treasury secretary since he took office in January 2021, said the current US oversight system was not perfect, and it was legitimate to look for ways to reduce its regulatory burden.

But she warned against taking radical steps that would interfere with needed oversight or the current system of insuring banks’ deposits, given the long history of bank failures triggering financial crises.

“I don’t want to say that exactly what we have is utterly sacrosanct and couldn’t possibly be touched. But I do not think it’s broken. We’ve got a good system,” Mr. Yellen told Reuters as she prepares to hand off to Scott Bessent, President-elect Donald J. Trump’s nominee to be Treasury secretary.

Mr. Trump’s return to office has raised the prospect of radical changes to the federal government’s current structure and a regulatory framework put in place over decades to oversee financial services and banking, as well as digital currency.

“Bankers always complain about over-regulation,” Mr. Yellen said. “It’s legitimate to look for areas where the burdens of regulation exceed the benefits and to try to redress that. But appropriate regulation of capital, liquidity, risk taking and the like are critically important to a sound banking system and economy, and that should not be interfered with.”

Ms. Yellen said she was troubled by a report that Mr. Trump’s transition team was exploring ways to reduce, merge, or even eliminate the top bank regulators in Washington, but had no specific insight into their plans.

“We’ve seen what happens when banks are inappropriately supervised,” she said, referencing the unexpected failures of Silicon Valley Bank and Signature Bank in March 2023, and others before them that had “created the possibility of a contagious financial crisis.”

“The lessons we learned from those 100-plus years of history is that banks need to be supervised and regulated appropriately to greatly mitigate the odds of failure; that deposit insurance is a critical element in promoting safety and soundness and confidence in the system, and that there needs to be adequate access to liquidity when banks get in trouble,” she said.

FINANCIAL STABILITY
Ms. Yellen said US banks were doing “exceptionally well” despite warnings that the Dodd-Frank legislation passed after the 2008-2009 global financial crisis would make it difficult for them to compete.

The legislation resulted in the creation of the Financial Stability Oversight Council, the Federal Reserve’s division of financial stability, and the Treasury’s Office of Financial Research to anticipate and assess threats to financial stability.

Ms. Yellen, who led the Fed from 2014 to 2018, agreed that the US had a complicated system of banking regulation involving many agencies at the state and federal levels. She said there had been discussions over the years about possible consolidation moves at the federal level, and the Office of Thrift Supervision was eliminated after the global financial crisis with no adverse impact.

But she added that changing the structure of the system had not been at the top of her agenda. — Reuters

Luxurious gifts and artsy options

ARTS & LETTERS’ MUGS

You’ve still got a couple of weeks to get Christmas presents, and we’ve got a few tips, from the luxurious to the quirky.

LUXE LIST
Coach. The Rustan’s Makati Coach store debuts the house’s Holiday 2024 collection designed by Creative Director Stuart Vevers. With craftsmanship, luxury, and self-expression at the forefront, the collection reimagines classic Coach American heritage styles with a youthful twist. The brand’s popular Tabby shape now comes with a chain, but there are other ways to enjoy it: think quilted, or with crystals. The Fall/Winter collection, meanwhile, still on display, shows vintage Coach styles but in more festive colors. The New York collection is also available: and to make someone feel special, why not get someone a bag also held by supermodel Bella Hadid (Hint: ask for the Brooklyn). The new Coach Rustan’s Makati store is on the first level.

Gucci. By acquiring a bit (pun intended) from the Gucci Cruise 2025 and Fall/Winter 2024 collection, you’re getting a bit of history: this will round out new Creative Director Sabato de Sarno’s first full year with the Italian household name. The inspiration is London, so they have got knits and florals, but also a ballet flat shaped exactly like a pointe shoe, with the house’s recognizable horsebit buckle. Most special of all, of course, is the debut of the Blondie bag, named after Debbie Harry’s new wave band. The bag, a leather or toile sling akin to those containing cameras, revives a Gucci logo used in the 1970s, right when Debbie Harry burst into the scene. Visit Gucci’s store in Greenbelt.

Dita Lancier. Give the gift of seeing and being seen with the Fall/Winter 2024 collection of luxury eyewear brand Dita Lancier. Dita Lancier provides timeless designs with advanced lens technology for optimal vision in any environment — land, sea, or air. The brand’s mission is to help people “see the world better without sacrificing style,” offering eyewear that enhances both visibility and comfort. The collection consists of frames crafted from premium materials like titanium and acetate, featuring anti-slip rubber nose pads and temples for ultimate comfort. This collection offers a variety of timeless shapes designed for a classic style, ensuring functionality and comfort for everyday wear or life’s adventures. Each piece is built for durability as it improves optical precision while blocking UV and blue spectrum light. The Dita Lancier FW24 collection is available in square, rectangle, round, and aviator frame shapes with lens in three colors: land (brown), sea (gray lens), and air (green). The Dita Lancier FW24 is now available at select Vision Express locations nationwide.

ARTSY LIST
We understand that not everyone is into glamor: for those looking for more understated gifts, we’re presenting art-emblazoned gifts for a little bit of beauty in your everyday.

Arts & Letters. Quezon City-based Arts & Letters has released a gift collection of ceramic mugs featuring several famous paintings. These include Vincent van Gogh’s Starry Night, Almond Blossoms, and Vase with Twelve Sunflowers. Edgar Degas’ The Pink Dancers, Before the Ballet, and The Green Dancer are also on the list, as are Gustav Klimt’s The Kiss and the Tree of Life. The collection is rounded out by Katsushika Hokusai’s The Great Wave off Kanagawa. The mugs are available at P325, and a boxed coffee set is available for P475. Double the fun with two mugs and the boxed set for P800. Other designs include mugs inspired by The Little Prince and Alice in Wonderland. For orders, contact https://web.facebook.com/artsandlettersmanila.

Fundacion Sansó. Not many people have a Juvenal Sanso at home, but you can change that with gifts from the Fundacion Sansó museum shop. There are plates printed with his works (P3,500), but for a grand gesture, try the Impact of Creation Sansó x Rega Turntable System, for P125,000. For something a little more humble, try their tea tumblers, also printed with the artist’s works, from P800. For more information, check out https://fundacionsanso.shop/.

Ukraine ready to step in after Russia suspends food shipments to Syria

REUTERS

KYIV — Ukraine, a global producer and exporter of grain and oilseeds, is ready to supply food to Syria following the fall of Bashar al-Assad, Ukrainian Agriculture Minister Vitaliy Koval told Reuters on Friday.

Russian and Syrian sources said earlier that Russian wheat supplies to Syria had been suspended over uncertainty about the new government and payment delays.

Syria imported food from Russia during the Assad era and it is unclear how relations between Damascus and Moscow will take shape under the new government.

“Where it is difficult, we have to be there with our food. We are open to supplying our food and if Syria needs food — then we are there,” Mr. Koval told Reuters.

Ukraine’s exports were buffeted by Russia’s February 2022 invasion, which severely reduced shipments via the Black Sea.

Ukraine has since broken a de facto sea blockade and revived exports from its southern port of Odesa.

Kyiv traditionally exports wheat and corn to Middle Eastern countries, but not to Syria.

Traders say that only about 6,000 metric tons of Ukrainian corn reached the Syrian market in the 2023/24 season, out of a total corn export volume of 29.4 million tons.

However, small parcels of Ukrainian-origin grain may have reached Syria from neighboring countries, which were not captured by those statistics, analysts said.

Since the fall of Assad, a close Russian ally, Kyiv has voiced a desire to restore relations with Syria.

Foreign Minister Andriy Sybiha said Kyiv was ready “to pave the way for the restoration of relations in the future and reaffirm our support for the Syrian people.” — Reuters

HPV vaccination can prevent cervical cancer

FREEPIK

Cervical cancer is the second most common cancer among women in the Philippines, including those between the ages of 15 and 44, according to the Department of Health (DoH). Annually, nearly 8,000 women in the country are diagnosed with cervical cancer, 50% of whom die from the disease.

Women should see a doctor if they notice unusual bleeding between periods, after menopause, or after sexual intercourse; increased or foul-smelling vaginal discharge; persistent pain in the back, legs, or pelvis; weight loss, fatigue and loss of appetite; vaginal discomfort; and swelling in the legs.

The main cause of cervical cancer is persistent infection with high-risk types of human papillomavirus (HPV). If left untreated, persistent HPV infection causes 95% of cervical cancers.

To promote prevention and early detection, the World Health Organization (WHO) recommends HPV vaccination. It also recommends regular cervical cancer screening for women from the age of 30. HPV vaccination, cervical cancer screening, and cervical cancer treatment are the three “elimination pillars” of the WHO “Global strategy to accelerate the elimination of cervical cancer as a public health problem.” If the three pillars of elimination are established, the Philippines could avert nearly a million deaths due to cervical cancer over the next century.

The HPV vaccine has been proven to be safe and effective at protecting against HPV and reducing HPV infections, which reduces the risk of cervical cancer and other cancers (vaginal, vulval, and penile cancer, among others) caused by HPV, according to the US Centers for Disease Control and Prevention (CDC).

The Pediatric Infectious Disease Society of the Philippines (PIDSP) and Philippine Foundation for Vaccination (PFV) recommend a two-dose HPV vaccine series for females ages nine to 14 years, and a three-dose series for females ages 15 years and older. The Philippine Society for Microbiology and Infectious Diseases (PSMID) recommends HPV vaccination for females until the age of 26 years for the prevention of cervical cancer and anogenital warts.

Some countries have also chosen to vaccinate boys to further reduce the prevalence of HPV in the community and to prevent cancers in men caused by HPV, the WHO said. PIDSP and PFV recommend HPV vaccine for males nine to 18 years of age for the prevention of anal and genital warts and anal cancer. PSMID recommends HPV vaccine for males 16-26 years of age for the prevention of genital warts and anal cancer.

Substantial declines in high-grade cervical disease and genital warts among vaccine-eligible women have been observed in Australia, one of the first countries to fund and implement a National HPV Vaccination Program. In 2007, Australia launched a nationwide HPV vaccination drive for the prevention of HPV infection and associated disease using the quadrivalent HPV vaccine, initially for girls only and extended to boys in 2013, with uptake rates among the highest observed worldwide.

A paper published in the October 2018 issue of the open-access medical journal Eurosurveillance reported the impact of this national program on HPV prevalence and associated disease burden and estimated the potential impact of adopting a nonavalent HPV vaccine.

The paper reported substantial declines in high-grade cervical disease and genital warts among vaccine-eligible women in Australia.

A nonavalent HPV vaccine is expected to prevent up to 90% of cervical and 96% of anal cancers. Of an estimated 1,544 HPV-associated cancers in 2012, 1,242 would have been preventable by the nonavalent HPV vaccine and an additional 187 anogenital cancers by the 9vHPV vaccine.

Vaccination using quadrivalent HPV vaccine has had a large demonstrable impact on HPV-related disease in Australia. A switch to a nonavalent HPV vaccine could further reduce the HPV-associated cancer burden. With continued high coverage among both males and females, elimination of vaccine-type HPV disease seems achievable in Australia, the paper concluded.

Vaccines help save millions of lives every year around the world. They are one of the best tools in the fight against infectious diseases, including persistent HPV infection, the main cause of cervical cancer. Vaccines can lower the burden of care on families and healthcare systems, reduce disruption to our lives and livelihoods, lower health inequities and contribute to broader wellbeing and prosperity. The HPV vaccine gives us hope that cervical cancer could be eliminated within our lifetimes.

 

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

Lynk & Co PHL opens fourth dealership

Lynk & Co Quezon Avenue is located at 108 Quezon Ave., corner Gregorio Araneta Avenue, Quezon City. — PHOTO FROM LYNK & CO PHILIPPINES

New vehicles arriving in 2025 teased

THE OPENING of Lynk & Co Quezon City, the fourth completed showroom (the others being Alabang, Bulacan, and Angeles) of the United Asia Automotive Group, Inc.-administered brand in the Philippines, truly marks promising beginnings.

Located at 108 Quezon Avenue corner Gregorio Araneta, the 3S (sales, service, and spare parts) facility is owned and operated by Paramount Cars, Inc. — its first dealership since assuming the name. Addressing guests during the formal inauguration, Paramount Cars, Inc. Jessica Lee-Sy declared with a smile, “We are really excited and believe in this partnership so much that even before our contract signing (with UAAGI) in November, we had already put our signage up in September.”

Paramount Cars, Inc. has its roots in the Philippine Business Initiatives, Inc. (PBII) — an enterprise formed in 2011. Amid the evolution of both the company and the automotive landscape, Mrs. Lee-Sy said, “With all these changes, especially the people behind PBII, I believe that we should make a new identity, a new brand, and a new company. We have decided to name this company Paramount Cars, Incorporated.”

Mrs. Lee-Sy noted that the auto sector has become “more competitive,” adding, “There are now 21 Chinese brands in the Philippines (on top) of the other brands coming from other countries.” She declared that Paramount Cars will not be solely focused on profit but also on delivering “top-notch products and services,” while “creating value for customers.”

UAAGI Chairman Rommel L. Sytin promised to provide Paramount Cars with all the support the company needs for its Lynk & Co dealership, and expressed hope that the partnership will deepen and grow through the opening of dealerships for other brands under UAAGI’s stewardship here (Chery, Foton, and BAIC).

Lynk & Co Quezon Avenue boasts 290sq.m. of office space and a 221-sq.m. showroom. The Swedish-designed-and-engineered Lynk & Co vehicles are now available for reservation. “The dealership features a full-service work bay, ensuring that customers can conveniently maintain their vehicles without leaving the city,” said the company in a release.

Meanwhile, UAAGI Brand Manager Timothy Sytin revealed the models Lynk & Co Philippines will release in the coming year. These include the 09 EM-P midsize luxury crossover SUV (in either six- or seven-seater guise), expected in Q2. “Lynk & Co decided to make the interior spacious while not missing out on the tech features the brand has to offer,” he said. Fitted with an air suspension system that’s adjustable based on loading, the 09 variant to be brought in is the plug-in electric hybrid version that can muster 200 kilometers on pure electric mode and up to 1,400 kilometers of range (reportedly the longest in the segment) when combined with the turbocharged 2.0-liter internal combustion engine.

The 06’s EM-P version, boasting 126 kilometers of pure electric range and a combined range of 1,300 kilometers, is projected to arrive in Q2, as is the face-lifted 01 PHEV.

Finally, customers can look forward to the arrival of the 08 EM-P (in Q3), said to be the “technical twin” of the Volvo XC40. It is motivated by a 1.5-liter turbocharged engine and two electric motors. Peak torque is an incredible 905Nm — helping the vehicle sprint from a standstill to 100kph in 4.6 seconds. Pure electric range is at 245 kilometers; combined with the internal combustion engine, the figure grows to 1,400 kilometers as well.

Lynk & Co Quezon may be contacted at 0919-069-9430 or through rex@lynkco-qa.com to request for a quote and to book a test drive. For more information and updates, follow Lynk & Co Philippines’ social media accounts LynkCoPhilippines (Facebook) and @lynkco_philippines (Instagram), or visit the official website LynkCo.ph. Sales teams in the following locations have also been activated, as work on the physical showrooms are being commenced: Bonifacio Global City, Iloilo, and North EDSA.