Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 1024

Lemon Square baked goods maker taps Berde Renewables to power production facility

BIG E Food Corp. (BEFC), the company behind Lemon Square snacks, has tapped renewable energy company Berde Renewables, Inc. to install a 2.6-megawatt-peak (MWp) rooftop solar energy system at its production facility in Meycauayan, Bulacan.

“By shifting to solar energy, we’re not only cutting down on emissions but also setting ourselves up for a more efficient and future-ready operation. It’s a reflection of our dedication to both our consumers and the environment,” EJ Vergel De Dios, BEFC’s head of corporate strategy and planning and chief executive officer of Lemon Square Bakery Treats, said in a statement on Tuesday.

The solar photovoltaic energy systems are expected to generate over 3,681.77 megawatt-hours of electricity annually, helping to mitigate carbon emissions equivalent to around 2,500 tons per year.

“This collaboration with Big E Food Corporation is one of several we’ve established this year, demonstrating our commitment to accelerating the energy transition here in the Philippines,” Berde Renewables CEO Patrick Zhu said.

“By helping companies like BEFC make the switch to renewable energy, we’re not only reducing carbon footprints but also providing them with a sustainable solution to manage rising energy costs,” he added.

Last month, Berde Renewables announced that it had entered into a solar power purchase agreement with retail company Magic Group of Companies for the installation of a 729-MWp solar power system at Magic Mall San Carlos.

Berde Renewables is a portfolio company of I Squared Capital, an independent global infrastructure investment manager. It develops, builds, and operates distributed renewable energy projects for commercial and industrial customers. — Sheldeen Joy Talavera

Peru archaeologists find 600-year-old child sacrifice site

LIMA — In a vacant lot outside the town of Trujillo, in northern Peru, archaeologists have unearthed the remains of nearly four dozen children — all thought to have been ritually sacrificed more than 600 years ago.

“Many of these remains have cuts on the sternum, some on their ribs,” said archaeologist Julio Asencio from the excavation site.

Each child was buried separately, the scientist said. The remains of two adults and nine llamas — thought to be an offering representing their source of food, clothing, and transport — were also found nearby.

They likely belonged to the local Chimu group, which dominated northern Peru from the 700s to the late 1400s, Asencio said.

Historians believe the group may have participated in child sacrifices as an attempt to appease their gods after heavy rains and flooding. They were conquered by the Inca just decades later.

Scientists had previously found another site thought to be a mass sacrifice by the Chimu nearby, of 140 children all with cuts on their sternum and ribs, their hearts believed to have been removed thereafter, alongside hundreds of llamas.

Peru is home to hundreds of archaeological ruins from a number of pre-Hispanic cultures up through the Inca Empire, which stretched from what is now southern Ecuador through central Chile some 500 years ago. — Reuters

Bored Bitcoin seeking direction after big bang

KANCHANARA-UNSPLASH

BITCOIN has been distinctly listless in the past three months after starting the year with a bang.

The crypto leader has largely shuttled between $56,000 and $63,000 so far in the second half of the year — a contrast to the first six months when it jumped 45%, propelled by the launch of US exchange-traded funds (ETFs) tracking its spot price.

Market players are now eyeing possible new crypto catalysts heading into yearend and early 2025, beyond broader market-moving events such as shifts in US interest rates and the American presidential election.

Jake Ostrovskis, trader at UK-based crypto firm Wintermute, is anticipating the upcoming launch of options on BlackRock’s spot Bitcoin ETF, a new product he believes could attract more US retail money after its approval by the Securities and Exchange Commission last month.

Because regulators view Bitcoin as a commodity, though, such options may also need the green light from the Commodity Futures Trading Commission, which oversees commodity derivatives, said Youwei Yang, chief economist at BIT Mining.

“If successful… (ETF options) could increase Bitcoin’s market sophistication and volatility, driving greater institutional and retail engagement,” Mr. Yang added.

It’s been quite a run for crypto as the anticipation and approval of US ETFs helped drive Bitcoin activity globally.

The total size of the cryptocurrency market has ballooned to $2.2 trillion as of Oct. 1 this year, from $8.3 billion at the start of 2023, according to CoinGecko data.

“We’ve observed a significant increase in institutional on-boarding and trading activity,” this year said Mr. Ostrovskis, adding there was a strong demand for platforms and services for digital assets that resemble traditional financial structures.

Notoriously wild Bitcoin’s 90-day volatility has fallen to 42% this year from 67% in mid-2020, according to Deutsche Bank data. Market watchers cautioned that Bitcoin still showed a strong correlation to other cryptocurrencies and was likely to be among the first assets dumped by investors retreating from uncertainty and risk; Bitcoin slumped 5% on a new spike in hostilities in the Middle East last week, for example.

BIGGEST CRYPTO COUNTRIES?
Chainalysis’ Global Adoption index, which tracks crypto use in 151 countries with measures including trading and payments, surpassed the 2021 crypto bull market between the fourth quarter of 2023 and the first quarter of 2024.

Crypto adoption is particularly strong in lower-income countries which often have less developed and accessible mainstream financial systems, the report showed. India took top spot, followed by Nigeria in Chainalysis’ rankings, while seven of the other top 20 countries were Asian emerging markets including Indonesia, Vietnam and the Philippines.

Crypto fans often point to uses in countries with high inflation and rapid currency depreciation — such as Turkey and Argentina — as evidence of digital money’s real world use.

Chainalysis also noted a significant increase in decentralized finance (DeFi) and stablecoin activity in Sub-Saharan Africa, Latin America, and Eastern Europe.

“The value proposition for Bitcoin and stablecoins in Latin America are intact,” said Mauricio Di Bartolomeo, co-founder of crypto loan provider Ledn.

“Most of the emerging world wants to bank in dollars, but they don’t necessarily trust their banks.”

The United States ranked fourth overall on the adoption ranking, while South Korea and China were 19th and 20th, respectively.

In terms of crypto transaction volumes, the US is the world’s biggest market followed by India, according to Deutsche Bank. — Reuters

Want to kill grunt work with AI? Careful what you wish for

FREEPIK

COMMON WISDOM about generative AI is that it will displace lots of professional jobs. The more nuanced take: It’ll take lots of entry-level jobs.

I’ve asked several businesses over the last few months how they’re using newfangled generative AI models from the likes of Microsoft Corp., OpenAI, and Alphabet, Inc.’s Google, and a common theme is automating grunt work — the kind you’d give to a new recruit, like conducting market research or writing reports. That might make sense on the surface, but as with every technology revolution there will be a price, one that both businesses and graduates will have to pay as AI raises the bar to starting a career.

One example of the trend comes from Man Group Plc. The British hedge fund has been using a large-language model to synthesize lots of unstructured market data from external sources into pithy paragraphs that are presented to its portfolio managers. That work is normally carried out manually by junior analysts. “Now they can work on higher-value stuff,” says Tim Mace, the firm’s managing director of data and machine learning.

Much the same is happening at some of Wall Street’s biggest banks, who have been experimenting with AI tools that can instantly answer questions about publicly traded companies or generate reports and one-page presentations, work typically done by analysts who’ve just stepped onto the bottom rung of the investment-banking ladder. Top executives at Goldman Sachs Group, Inc., Morgan Stanley and other banks have been debating how deep they can cut those incoming analyst classes, The New York Times reported in April.

A survey this year by the UK’s Institute for Public Policy Research found that low-ranking office work has a 16% higher chance of being taken over by AI compared to jobs for more senior workers. “For a given job, entry-level positions are more at risk than those of more experienced professionals,” the report said. Little wonder that a frequent piece of advice for adopting ChatGPT is to treat it “like an intern.”

What happens when businesses automate entry-level roles? One outcome is lower costs, but there might be a tradeoff. Grunt work can be a valuable route to learning the tricks of the trade and building the intuition needed in a more senior role. Sure, it can be tedious for a junior analyst at an investment bank to build an Excel spreadsheet with 20 tabs about a stock, or a 50-page slide deck about a potential deal, but the process can also help them develop a better sense for valuing companies. What’s seen as a hazing ritual in some industries, and low-value work, can be useful in training the next generation of senior managers.

It also poses an uncomfortable challenge for college grads targeting professions like law and banking in the coming years. The New York Times goes as far as to say that investment banks will “nullify the need to hire thousands of new college graduates.” If future employers expect their young recruits to do higher-level work, those grads will need to show they have those higher-level skills. Over the next one or two decades, that might even lead to a rethink of how higher-education prepares young people to enter a workforce where they are no longer doing the job of interns but managing machines that are interns instead. 

Technology has of course been streamlining entry-level tasks throughout history, taking us from abacuses to calculators, typewriters to word processors, and library stacks to smartphone databases. But generative AI represents a bigger leap: It’s not only automating routine tasks but mimicking human creativity and decision-making, threatening to erase entire categories of junior positions and shutting established entry points to professional careers.

Businesses should be mindful of how they define “low-value” work that’s suddenly ripe for automation. It might be more valuable than they think.

BLOOMBERG OPINION

Ideaspace Ventures adds five more startups to accelerator program

COLLO

IDEASPACE VENTURES, the startup arm of the MVP Group, has added five startups to its portfolio as part of its flagship accelerator program, it said in a statement on Tuesday.

Among the Cohort 12 startups are property management Collo, logistics service startup Flying Tigers Express and Itemcount, which focuses on inventory keeping.

It also includes Remotify, designed to transform remote work management, and Swiftclaims, which seeks to improve the claims processing of Philippine Health Insurance Corp. claims.

“We are thrilled to welcome the Cohort 12 startups into the Ideaspace family,” Rene “Butch” S. Meily, president of Ideaspace Foundation, Inc., said in the statement. “The strength of our network, which connects founders, mentors and the broader MVP group, will undoubtedly drive us to greater heights.”

The company said for the first time since its launch, Ideaspace Ventures has made immediate investments in the selected startups.

“The rigorous selection process highlights the resilience of these startups. Despite facing the downtrend challenges of 2023, they have persevered, truly embodying this year’s theme,” said Jay Fajardo, Ideaspace executive director and an alumnus of Cohort 11.

The accelerator program addresses the funding gap that startups experience in the country.

About 57% of founders have said Philippine startups “greatly lack” funding opportunities, with investments having declined by 40% in 2023, according to the Gobi-Core Philippine Fund report.

“These startups will benefit from Ideaspace’s comprehensive support, including mentorship in business operations, guidance on fundraising strategies and insights into effective marketing and sales tactics,” the firm said.

The 13-week accelerator program will culminate in a demo day at the Philippine Startup Week 2024 in November.

Since 2012, the Ideaspace accelerator program has supported more than 700 startups and accelerated more than 250 businesses.

Ideaspace Ventures is a Manila based venture capital that invests in early-stage startups in the Philippines and the region. It is backed by the largest network of strategic businesses that include mobility, healthcare, logistics, fintech, energy, digital infrastructure, and media.

It was set up in 2012 by its chairman Manny V. Pangilinan to support Filipino tech entrepreneurs, and is backed by First Pacific, Metro Pacific Investments Corp. (MPIC), PLDT Inc. and its wireless unit Smart Communications, Inc., Manila Electric Co. (Meralco), and Maynilad Water Services Inc., along with various public and private organizations.

MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority share in BusinessWorld through the Philippine Star Group, which it controls. — Aubrey Rose A. Inosante

How PSEi member stocks performed — October 8, 2024

Here’s a quick glance at how PSEi stocks fared on Tuesday, October 8, 2024.

Philippine, Thai central banks seek to strengthen cooperation

THE BANGKO SENTRAL ng Pilipinas (BSP) and Bank of Thailand (BoT) are working to explore potential areas of cooperation.

BSP Governor Eli M. Remolona met with BoT Governor Sethaput Suthiwartnarueput on Monday during a high-level bilateral meeting to “exchange views and strengthen cooperation on various areas of central banking.”

“Issues discussed include the role of central banks in the development of the capital market, its drivers and challenges; approaches in digital payments, and measures for fraud prevention and consumer protection; and AI (artificial intelligence) use cases in monetary policy, along with measures in mitigating potential risks,” the BSP said in a statement on Tuesday.

The central banks are also looking into joint initiatives such as study visits and webinars, it said.

In August, the BSP and National Bank of Cambodia signed a memorandum of understanding to boost both countries’ cooperation on central banking and payment connectivity. — Luisa Maria Jacinta C. Jocson

PHL faces China’s water cannons anew ahead of Marcos’ ASEAN engagements

PRESIDENT FERDINAND R. MARCOS, JR. — PHILIPPINE STAR/KJ ROSALES

THE PHILIPPINES will promote a rules-based order amid intrusions into its exclusive economic zone (EEZ) in the South China Sea during the summit of Southeast Asian leaders in Laos this week, its leader said on Tuesday just as China fired water cannons at Philippine fishery bureau ships.

President Ferdinand R. Marcos, Jr. said his country continues to grapple with the “sharpening regional tensions,” citing “recent dangerous incidents” within the Philippine EEZ.   

“I intend to champion our advocacies in promoting an open, inclusive, and rules-based international order, he said in a speech before flying to Laos for the 44th and 45th summits of the Association of Southeast Nations (ASEAN).

Manila would continue to push for the “peaceful resolution of any disputes in accordance with international law,” he added.

Before flying to Laos, the Philippine Navy confirmed reports that Chinese vessels fired water cannons at two ships of the Bureau of Fisheries and Aquatic Resources (BFAR) delivering supplies for Filipino fishermen in Scarborough Shoal, which Manila calls Bajo de Masinloc.

“The CCG vessels attempted to impede the mission of the BFAR vessels but were unsuccessful,” BFAR said in a statement.

They “opened and directed their water cannons, but this failed to reach the Philippine civilian boats,” the agency added.

“Notwithstanding the dangerous maneuvers and opening of water cannons, both BFAR vessels were able to resupply the Filipino fisherfolk in the vicinity of Bajo de Masinloc.”

A 2016 arbitral ruling that invalidated China’s expansive claims in the South China Sea said the shoal is a traditional fishing ground for Filipino, Chinese, and Vietnamese fishermen. China has effectively controlled the shoal since 2012.

BFAR said its vessels were able to supply Filipino mother boats and 16 small fishing boats.

The Philippine agency said it will not be deterred from patrolling all Philippine maritime zones and providing support to Filipino fisherfolk “pursuant to its mandate of enforcing all laws and rules and regulations in the management and conservation of fishery resources.”

SUMMIT AGENDA
Aside from the South China Sea disputes, Mr. Marcos said ASEAN leaders were also expected to put focus on the situation in junta-led Myanmar, Russia’s war in Ukraine, and conflicts in the Middle East.

He said the Philippine government was working for the safety — and repatriation — of over 40,000 Filipinos in Lebanon and in Israel.

His government has recently taken a clearer stance on the conflict in Gaza, one of the two territories occupied by Palestinians — the other being the West Bank — that the Israeli government has been trying to invade for years.

Last month, the Philippines joined 123 other countries in favoring a United Nations resolution urging Israel to end its occupation of Palestinian territories within a year.

Tensions in the Middle East continue to escalate following Israel’s bombardment of Gaza in response to missile attacks by the militant group Hamas on Oct. 7 last year.

Israel launched a ground operation into southern Lebanon last week, as it vowed to conduct raids against “Hezbollah terror targets” that it said were “immediate threat” to northern Israeli communities.

“I am glad to report that no Filipino has been reported injured in the crisis that we hear about in the news,” Mr. Marcos said, referring to the “wave of attacks against Hezbollah targets in the past few days, and the consequent Iranian reprisal against Israel.”

The tension is the latest in a spate of cross-border hostilities following Israel’s bombardment of Gaza.

“The Philippines urges all parties to refrain from escalating the violence and to work towards a peaceful resolution of the conflict,” said Mr. Marcos, whose country eyes a nonpermanent seat at the UN Security Council.

He said Philippine embassies have been working on securing exit papers and transportation for Filipinos who want to return to their country.

“Of the 1,500 initial applicants for repatriation from Lebanon, a third have already gone home, while another third, around 500, are still having their papers processed,” he said.

The Philippine foreign affairs “will expedite” the repatriation process, he added. The migrant workers department “will be chartering the flights to bring them home.”

For this month, the two agencies target to repatriate at least 162 overseas Filipino workers from Israel, Mr. Marcos noted. 

At the weekend, Foreign Affairs Undersecretary Eduardo Jose A. de Vega said more than 100 Filipinos were set to be repatriated from Lebanon in batches from Oct. 11 to 28 amid Israeli bombardments.

The list includes 15 Filipinos whose repatriation scheduled for Sept. 26 did not push through due to postponement of commercial flights.

The agency earlier said the Philippines was having a hard time securing landing rights for chartered flights.

Meanwhile, Mr. Marcos said he will be participating in meetings with ASEAN’s external partners, to “advance cooperation” in areas such as food and energy security, trade and investment, supply chain resilience, and the climate agenda.

The Philippine leader has increasingly pushed for the integration of his country into the regional and global stages, pursuing multilateral economic and security deals including the ASEAN-dominated Regional Comprehensive Economic Partnership (RCEP).

A day before flying to Laos, Mr. Marcos met with South Korean President Yoon Suk Yeol at the presidential palace in Manila as the latter held a two-day Philippine visit, the first leg of his three-nation Southeast Asian trip. He also attended a forum organized by Philippine and Korean businesses later in the day, touting some of the liberal economic reforms in the country including Singapore-inspired law that significantly cut corporate income tax. His administration pushes for the revision of the bill to further lower the CIT and simplify the process for tax deductions. — Kyle Aristophere T. Atienza

Marcos signs law to strengthen Philippines’ defense posture

PHILIPPINE STAR/EDD GUMBAN

By Kyle Aristophere T. Atienza and John Victor D. Ordoñez, Reporters

PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday signed into law a bill requiring the Philippine government to pursue a defense posture reliant on local manufacturers. 

This followed the start of the Philippines’ two-week joint military exercises with the United States and four other countries, which an analyst said, builds the country’s capacity to defend itself.

The Self-Reliant Defense Posture Revitalization Act, which goes into the books as Republic Act (RA) No. 12024, seeks to boost local production of defense equipment. It will enable the Philippines to develop technologies to counter “unconventional threats,” he said in a speech at a signing ceremony at the presidential palace in Manila.   

He cited cybersecurity breaches, chemical attacks, and radiological threats as “pressing realities.”

“With this, we are broadening our perspective on defense. We are not just looking at tanks and rifles,” Mr. Marcos said. “We are building capacities that address these unconventional dangers head-on.” 

He called for systems and strategies that are “reactive and predictive, allowing us to stay a step ahead of those who wish harm to the Philippines.”

The law tasked the Department of National Defense with formulating and implementing a Self-Reliant Defense Posture Program for the short-, medium-, and long-term needs of the defense sector.   

It seeks to give preference to Filipino-owned enterprises in terms of the development, servicing, and operation of defense material in the country. These include military technology, arms and ammunition, combat training, weapon systems, and armor.   

The new law complements the military’s Comprehensive Archipelagic Defense Concept, which seeks to ensure the country’s maritime zones amid Chinese aggression at sea.

Bills seeking to define and declare the Philippines’ maritime zones and establish sea lanes are now up for Mr. Marcos’ signature.

“The passage and signing of this law send a strong message that we are serious about protecting our sovereignty and securing our future,” House Speaker Martin G. Romualdez said in a statement. 

The revitalization of the local defense industry will contribute to economic growth by creating jobs, advancing technological innovation, and “fostering a culture of self-reliance within the defense sector.”

This law will not only strengthen our security but also open up opportunities for our industries to grow and innovate,” he said.

Joshua Bernard B. Espeña, vice-president at the Manila-based International Development and Security Cooperation, said it’s timely for the Philippines to create an ecology of indigenous defense systems “against the backdrop of increasing insecurity of Philippine sovereignty across kinetic and cyber domains.”   

“While it is apt to import sources of defense materiel, it is also timely to create an ecology of indigenous defense systems for Manila to supply the necessary ‘mass’ of capabilities needed for conventional, yet asymmetric, warfare scenarios,” he said in a Facebook Messenger chat.

“The country has a lot of natural resources to offer such as rubber, tin, timberwood, precious metals, and rare earth materials across the archipelago to create, assemble, repair, and sustain capabilities like drones, trucks, munitions, and corvettes,” he said.

To harness the law’s potential, Mr. Espeña said the Philippine government needs to help local manufacturers be on par with institutions aligned to the North Atlantic Treaty Organization (NATO), a military alliance of over 30 states.

NATO’s defense technology accelerator DIANA last month chose 10 companies to transition to the second phase of its innovation program that brings funding and tailored support for creators of disruptive and emerging technologies responsive to the needs of defense markets.

“In the long run, the future is not just to supply the country’s security sector but also to export these products to the larger globalized defense industry, whose logic is not friendly to those unwilling to export and compete,” Mr. Espeña said.

JOINT DRILLS
The signing of the law comes as US Navy, marines and their Filipino counterparts on Monday kicked off their two-week joint military exercises in Subic Bay aimed to boost interoperability between military forces, the US Defense department said on Tuesday.

“What began as a bilateral event between the United States and the Philippines has grown into a multilateral and multiplatform operation, bringing together like-minded partners from across the Indo-Pacific,” US Rear Admiral Todd Cimicata said in a statement, published by the agency’s Defense Visual Information Distribution Service (DVIDS), on Tuesday.

He said the Sama Sama exercises, which translates to togetherness in Filipino, is crucial to upholding the commitment to peace, security and cooperation in the maritime domain.

The navy and marine forces will conduct high intensity drills focusing on anti-submarine, anti-air and anti-surface warfare, along with the use of maritime surveillance aircraft, according to DVIDS.

This year’s drills will also include participation from military and navy personnel from Australia, Japan, Canada, France, and Japan, it added.

“This exercise is a powerful investment for our collective movement and an opportunity to address regional challenges together,” Philippine Rear Admiral Jose Ma. A. Ezpeleta was also quoted as saying.

Vessels participating in the drills include the US Navy’s Arleigh Burke-class guided-missile destroyer USS Howard DDG 83 and a P-8A Poseidon maritime surveillance aircraft.

The US Marine Corps’ Marine Rotational Force – Southeast Asia (MRF-SEA), which is starting its six-month stint in the Southeast Asian region, will also participate in the exercises.

CAPACITY BUILDING
Raymond M. Powell, a fellow at Stanford University’s Gordian Knot Center for National Security Innovation, said the joint exercises demonstrate viable long-term and short-term capacity building for the Philippine military with its allies in Washington.

“In the short term, they demonstrate that there is a vibrant alliance with the US, which deters direct military aggression against Philippine forces. In the longer term they build Philippine capacity to act in its own defense,” he told BusinessWorld in an X message.

Tensions between the Philippines and China have worsened in the past year as Beijing continues to block resupply missions to Second Thomas Shoal, where Manila has a handful of troops stationed at a beached vessel.

Washington had left its Typhon missile system in the Philippines after joint exercises in April amid Chinese demands to withdraw it from the Southeast Asian nation. The US does not plan to pull it out and is studying its use in a regional conflict, Reuters earlier reported.

China and Russia have criticized the move, saying it could fuel an arms race in the region.

“The problem right now is that Beijing believes it has established clear precedent for certain kinds of aggression that do not draw a sufficiently negative response,” Mr. Powell said.

Philippine Foreign Affairs Secretary Enrique A. Manalo has said Manila does not want to gang up on Beijing with the international community as it considers bringing up its dispute with China before the United Nations General Assembly (UNGA).

Senators have been pushing for the Philippine Foreign Affairs Department to file a resolution with the UN body condemning China’s aggression in the South China Sea.

“The legal card has its value, but the country should not overly focus on it. The debacle in enforcing the 2016 arbitration award is instructive,” Lucio B. Pitlo III, a research fellow at the Asia-Pathways to Progress Foundation, said in a Facebook Messenger chat.

“A judicious mix of defense, diplomatic tools, informational and economic tools should be pursued.”

Manila also eyes raising its dispute with China with the Association of Southeast Asian Nations (ASEAN) when it heads the regional body in 2027, Mr. Manalo earlier told senators.

The ASEAN and China have been in talks as far back as 2002 to craft a code of conduct in the South China Sea.

In 2016, a United Nations-backed tribunal based in the Hague voided China’s claim to more than 80% of the South China Sea for being illegal.

The Philippines has been unable to enforce the ruling and has since filed hundreds of protests over what it calls encroachment and harassment by China’s coast guard and its vast fishing fleet.

“Through exercises like Sama Sama, we continue to improve our interoperability and our readiness while deepening our understanding of each other’s capabilities,” Mr. Cimicata said.

Senate at a ‘new low’ as candidacy filing period ends

BW FILE PHOTO

By Kyle Aristophere T. Atienza, Reporter

THE FILING of candidacies for the 2025 midterm elections has shown that Philippine dynastic politicians have become more brazen decades after the restoration of formal democracy in 1986, with the Senate experiencing a “new low” as it’s dragged into sibling politics.

“We have seen more and more dynasty members filing their certificates of candidacy, as if they are entitled to it. They are more brazen than before,” Arjan P. Aguirre, who teaches political science at Ateneo de Manila University, said in a Facebook Messenger chat on Tuesday.

He said this year’s filing of candidacies has also shown that the party-list system is being hijacked by wealthy people, turning it into a “popularity contest for celebrities” and “a new enterprise for business people.”

The period for the filing of candidacy papers ended on Tuesday. As of Monday, 127 people were seeking a seat at the Senate, including two brothers of Senator Rafael “Raffy” T. Tulfo, a sister of Senator Alan Peter C. Cayetano, and the sister of Senator Mark A. Villar, whose term-limited mother is seeking a mayoralty post.

“In the Senate, we are witnessing a new low with the possibility of having three siblings in the 24-seat chamber, another family member replacing the term-limited mother, a sister who plans to stay with a brother, a sister replacing an outgoing sister, and a sister of the sitting president wanting to get re-elected,” Mr. Aguirre said.

“Should they win, we will have a total of nine senators who are siblings — three Tulfos, two Cayetanos, two Villars and two Ejercito-Estrada,” he explained. “They will join other members of the Senate who are also members of dynasties.”

DECLINING INDEPENDENCE
Since the Senate is increasingly becoming a hub for dynastic politicians, its level of independence is declining, said Hansley A. Juliano, who teaches political science at the Ateneo de Manila.

“It means there’s not much radical progress to be expected on policymaking, its level of independence is not always guaranteed,” he said via Messenger chat.

Mr. Juliano said at the national and local levels, many established dynasties are just being challenged and replaced by “either scions of dynasties and established families as well.”

In Batangas province, the seventh most vote-rich province in 2022, former lawmaker Vilma Santos-Recto, wife of Finance Secretary Ralph G. Recto, is running for the gubernatorial post with his son Luis, who is a television actor, as her running mate.

Her youngest son Ryan is running for representative of the province’s sixth district.

About 40 kilometers south of Batangas, a similar situation is seen: Incumbent Oriental Mindoro Govenor Humerlito “Bonz” Dolor is running for his last reelection with his brother, Provincial Administrator Hubert A. Dolor, as his running mate.

In Pampanga province north of the capital Manila, dynastic politics also thrives: Governor Dennis “Delta” G. Pineda seeks to take the position of her mother Vice Governor Lilia “Nanay” G. Pineda, who is running for the gubernatorial post.

In Davao City in southern Philippines, former president Rodrigo R. Duterte is running for mayor alongside his son, incumbent Mayor Sebastian “Baste” Z. Duterte.

The strongman politician’s oldest son, Davao Rep. Paolo Z. Duterte, seeks another reelection. All the while, her sister Vice-President Sara Z. Duterte-Carpio has refused to participate in House hearings amid questions on her office’s previous and proposed budgets.

“There’s not much new to say about the local polls especially since small or thin dynasties continue to be normalized and accepted — there seems to be zero barriers to whole nuclear political families becoming involved in the polls,” Mr. Juliano said.

“While there are definitely brazen families, we cannot really expect much when there’s no money or resources going around for potential opposition candidates.”

“If we want a serious shift in local elections, there really needs to be a conversation on serious and smart campaign financing for the opposition,” the academic said.

Meanwhile, De La Salle University political science professor Anthony Lawrence Borja said that while there are more old names trying to return to power, there are new entries from opposition groups including the senatoriables of left-leaning Koalisyong Makabayan.

“As of now, it appears that for the legislative race, it is more diverse or even polarized in terms of candidates’ backgrounds,” he said via Messenger chat.

“On one hand, we have new entries from the Makabayan bloc, other progressive candidates, and well-meaning celebrities,” he added. “On the other, we have a lot of old names trying to return to power, climb-up the greasy pole, or perpetuate their respective dynasties or factional blocs.”

Makabayan has already fielded 11 candidates for the Senate representing various sectors including fisherfolk, farmers, women, teachers, and the urban poor.

Two labor leaders under Partido Lakas ng Masa, another opposition group, are also seeking a Senate seat.

Meanwhile, opposition personalities Paolo Benigno “Bam” Aguirre Aquino IV and Francis Pancratius “Kiko” Nepomuceno Pangilinan are seeking to return to the Senate. Senator Ana Theresia “Risa” Hontiveros-Baraquel told One News’ The Big Story on Monday that she will campaign Mr. Aquino and Mr. Pangilinan and should they win, they would join the Senate minority.

The Senate minority is currently composed of Ms. Hontiveros and Senator Aquilino Martin de la Llana Pimentel III, who is running for congressman of Marikina City.

Mr. Borja said the civil society and the rest of the public need to “keep an eye” on the implementation of nuisance candidate provisions and developments in coalition-building efforts ahead of the elections.

Independent or non-aligned candidacies — genuine or not — may also thrive in next year’s elections, he said.

LAST DAY
Mr. Pangilinan filed his Certificate of Candidacy (CoC) to run for the Senate on the last day of registration on Tuesday. He ran as Vice President in 2022, but lost to Ms. Duterte. He aso previously served as a Senator from 2001 to 2013, and from 2016 to 2022.

A staunch advocate of agriculture, he said he aims to replicate his contribution under the second Aquino administration which brought down rice inflation to 8% from 15% within a year in 2014.

“I want to return again to solve the grievances of our countrymen,” he said in Filipino after filing his CoC at the Manila Hotel. “We are willing to put politics aside to help the government because hunger has no color.”

Also among those who filed for a senatorial seat is indicted televangelist Apollo C. Quiboloy, whose CoC was received by the Commission on Elections (Comelec) through an authorized representative.

The self-appointed son of God is facing charges of child abuse and human trafficking before the Davao City and Pasig City courts, respectively.

He is also facing several criminal charges in the United States, including conspiracy to engage in sex trafficking by force, fraud, and coercion; sex trafficking of children; sex trafficking by force, fraud, and coercion, conspiracy, and bulk cash smuggling.

Last month, he “surrendered” to the National Police after a weeks-long manhunt.

Meanwhile, former Manila City Mayor Francisco “Isko” M. Domagoso aims for a city hall comeback after failing to secure the presidential post in 2022.

As of writing, a total of 127 Senate hopefuls have registered and 137 as party-list representatives.

The Philippines will hold midterm elections next year. Filipinos will elect their congressmen, mayors, vice mayors, and members of city councils on May 12, 2025. Twelve of the 24-member Senate will also be replaced. — with Chloe Mari A. Hufana

Filipino executed in Saudi Arabia for murder

OFFICIALGAZETTE.GOV.PH

A FILIPINO in Saudia Arabia has been executed at the weekend for killing a Saudi national, according to the Philippine Department of Foreign Affairs (DFA).

“The Philippine government provided legal assistance and exhausted all possible remedies, including a presidential letter of appeal,” DFA spokesperson Ma. Teresita C. Daza told reporters in a WhatsApp message on Tuesday.

She said the victim’s family refused to accept “blood money” to pardon the Filipino.

The DFA official also said the state will not reveal the name of the Filipino upon the request of his family.

The agency said last year that 81 Filipino workers abroad have pending cases that are punishable by death.

It secured 354 pardons from 2018 to 2022, with most cases filed due to drug trafficking, prostitution, and theft.

The DFA also got 135 acquittals through its legal assistance fund in 2022, 132 of which were cases in the Middle East.

In 2022, the Saudi government promised President Ferdinand R. Marcos, Jr. that it would settle the unpaid wages and other benefits of overseas Filipino workers who had been laid off by private employers from 2015 to 2016.

The Department of Migrant Workers last year reported the death of 32-year-old domestic workers in Saudi Arabia who might have been murdered due to stab wounds found on her body.

Based on 2021 data from the Overseas Workers Welfare Administration, 60% of overseas Filipino workers were women that year. Data also showed that 75% of 23,986 cases of abuse were against women. — John Victor D. Ordoñez

Remulla takes oath as DILG chief

LONG-TIME provincial chief Juanito Victor “Jonvic” C. Remulla, Jr. on Tuesday took oath as secretary of the Department of Interior and Local Government (DILG), joining his elder brother in the Marcos Cabinet.

Mr. Remulla, younger brother of Justice Secretary Jesus Crispin C. Remulla, replaced seasoned politician Benjamin “Benhur” de Castro Abalos Jr., who is eyeing a Senate seat in the 2025 midterm elections.

“After 29 years serving in the provincial government of Cavite, 11 and a half of which I was governor, I think I will leave the province much better than when I first came in,” the new DILG chief said in a statement.

“To date, Cavite is the most business friendly province in the country.”

Surigao del Norte Rep. Robert Ace S. Barbers was among the top picks for the post, according to previous reports.

The Remullas hail from Cavite province, the nation’s second most vote-rich province with 2.3 million voters in 2022.

Political analysts noted the rise of dynasties in the Executive branch, dragging appointive positions into dirty politics.

“Both the President and the Vice-President have always been dominated by dynasties. Even the Cabinet has been dominated by appointees who are part of fat dynasties,” Michael Henry Ll. Yusingco of the Ateneo Policy Center said in a Facebook Messenger chat.

“But siblings simultaneous occupying offices in the Cabinet just shows the lack of shame amongst political elites to keep power for themselves.”

There are several members of political dynasties in the Marcos Cabinet, including Tourism Secretary Christina Garcia Frasco, whose mother Cebu Governor Gwendolyn F. Garcia is seeking reelection. His uncle Cebu Rep. Pablo John “PJ” Garcia is also vying for reelection.

Several family members of Mr. Marcos’ Finance Secretary, Ralph G. Recto, are seeking for elective posts in next year’s elections including his wife Vilma, who is gunning for the gubernatorial post of Batangas province with their son Luis as her running mate.

“A dynasty in appointive positions may be a new phenomenon in Philippine politics,” Arjan P. Aguirre, a political science professor at the Ateneo de Manila University said. “It deserves a new concept: ‘Dynastic appointments’ — executive appointments given to members of the same family.”

Another Cabinet official who is a member of a political dynasty is Chief Presidential Legal Counsel Juan Ponce Enrile, whose daughter Katrina was appointed as chief of the Cagayan Economic Zone Authority last year.

“The domination of political dynasties of the executive branch will compromise policy decisions, because the focus will be on how to keep political power rather than what is best for the nation,” Mr. Yusingco said.

“It will also undermine development planning and execution because the focus will be on attention-grabbing activities rather than laying down economic foundations for the future.” — Kyle Aristophere T. Atienza

1...1,0231,0241,025...12,694Page 1,024 of 12,694
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube