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TIEZA opens office in San Vicente tourism zone as PAL launches flights from Clark

THE TOURISM Infrastructure and Enterprise Zone Authority inaugurated on Oct. 28 the TIEZA Tourism Enterprise Zone (TEZ) Office and Tourist Information Center in, San Vicente, Palawan. On the same day, Philippine Airlines launched its flights between the town and Clark International Airport in the Luzon mainland. San Vicente, most known for its more than 14-kilometer stretch of white sand beach, has been designated as an “eco-town” and one of the Flagship Tourism Enterprise Zones in the country, where investors can avail of fiscal and non-fiscal incentives. The TEZ Office will serve as a link between and among the municipal government, the Department of Tourism, property owners and operators of private enterprises, and other stakeholders. The TIC, meanwhile, will be the first stop for tourists and visitors. The other flagship TEZs are Panglao Bay Premiere in Bohol, Mt. Samat Shrine of Valor in Bataan, Rizal Park Complex in Manila, and Bucas Grande in Surigao del Norte.

Bike-friendly

The 5th Iloilo Bike Festival was held Saturday, Oct. 27, where the Dahan-Dahan sa Daan, the road safety campaign of artist-activist group DAKILA, was also launched. “Iloilo’s initiatives for road safety are commendable and are to be followed by other local government units (LGUs). However, while it is a bike-friendly city that cyclists enjoy, the efforts for safer roads still continue. This event highlights the importance of having safer roads that benefit all road users, especially the vulnerable ones such as the pedestrians and commuters,” DAKILA officer-in-charge Executive Director Rash Caritativo said.

Manila-Davao shipping route reopens

THE PASSENGER shipping route linking Manila to Davao was reopened on Sunday, Oct. 27, to allow a more affordable transportation option between the country’s north and south. The Department of Transportation (DoTr), in a statement on Monday, said the inaugural trip was led by the main vessel of 2GO Group Inc., St. Michael the Archangel, with officials from the Maritime Industry Authority (MARINA) and the Philippine Ports Authority (PPA). “It is imperative that we establish public sea transport routes from Manila to Davao and other ports across the country. As an archipelago, the Philippines needs the services of efficient sea vessels that would cater to those who need affordable modes of transportation,” Executive Secretary Salvador C. Medialdea said in the statement. The new route is expected to not only offer an alternative means to travel between Manila and Davao, but also lower the prices of goods transported between the two locations by opening access points for freight containers. The DoTr noted that the Manila-Davao route has been closed for almost 10 years, but is being reopened now as a response to President Rodrigo R. Duterte’s request to provide better transportation options for residents in far-flung areas. Aside from the route’s launch, the PPA also opened a new passenger terminal building at the Davao Sasa Port on Sunday. A one-way ticket from Manila to Davao is priced at approximately P2,600. — Denise A. Valdez

DENR to charge 5 steel mills for pollution

THE DEPARTMENT of Environment and Natural Resources (DENR) will file a case against five steel mills accused of emitting high air pollution levels that pose serious hazards to public health and the environment, the Philippine Iron and Steel Institute (PISI) said yesterday. The companies are: Melter Steel Corp, Real Steel Corp, Wan Chiong Steel Corp, Metro Dragon Steel Corp, and Davao Mighty Steel Corp. The DENR investigated these firms following complaints on their alleged violation of the Clean Air Act or Republic Act. No. 8749. The PISI said the companies were members of the Philippine Induction Smelting Industry Association (PISIA), which use induction furnace for steel manufacturing, an equipment called by the ASEAN Iron and Steel Council (AISC) obsolete, and has been banned in China due to the pollution it causes and substandard steel that it produces. The AISC has said that induction furnace facilities are environmentally unfriendly. “Given the veracity of the allegations, the investigation must be completed as quickly as possible so that we can take immediate measures to address the problem and, if necessary, hold these companies accountable for their pollution,” DENR Secretary Roy A. Cimatu has earlier said. — Reicelene Joy N. Ignacio

Nation at a Glance — (10/30/18)

News stories from across the nation. Visit www.bworldonline.com (section: The Nation) to read more national and regional news from the Philippines.

Peso strengthens on mixed data

THE PESO strengthened further against the dollar on Monday on the back of continued pressure on the US currency due to economic data there.
The local unit ended Monday’s session at P53.56 against the greenback, eight centavos stronger than the P53.64 close last Friday.
The peso traded stronger the whole day, opening the session at P53.57 per dollar, climbing to as high as P53.54 intraday. Its worst showing meanwhile was at P53.635 versus the dollar.
Trading volume thinned to $645.25 million from the $723 million that switched hands last Friday.
A foreign exchange trader said the peso moved within a tight range yesterday as it traded stronger.
“Today’s intraday [low] was near Friday’s close. In addition, we saw the dollar index peaked,” the trader said in a phone interview on Monday.
Reuters reported that the greenback edged higher against a basket of currencies, with the dollar index standing at 96.446.
Despite this, another trader said the peso moved sideways due to the continued pressure on the dollar due to mixed economic data.
The US economy grew at a 3.5% pace in the third quarter, faster than the 3.4% market consensus. However, the personal consumption expenditure price index, the preferred inflation indicator by the Federal Reserve (Fed), rose 1.6% in the July-September period year-on-year, slower than the 2.2% projected by economists.
“The pressure is still on the dollar due to diminished expectation of another rate hike from the Fed this December,” the second trader said.
Meanwhile, UnionBank of the Philippines chief economist Ruben Carlo O. Asuncion said the peso “barely moved” yesterday, although the currency is expected to strengthen this week and in the coming weeks until the yearend “as the seasonal remittances influx begin.”
For Tuesday, the traders expect the peso to move between P53.45 and P53.65, while Mr. Asuncion gave a P53.20-P53.50 range. — K.A.N. Vidal

Local stocks climb on early window dressing

By Arra B. Francia, Reporter
LOCAL EQUITIES climbed on Monday, bucking the downturn in most international markets over the weekend due to concerns on the global economy.
The 30-member Philippine Stock Exchange index (PSEi) firmed up 0.63% or 44.70 points to close at 7,109.03 yesterday, extending last Friday’s gains. The broader all-shares index also gained 0.48% or 20.80 points to 4,353.39.
“With strong economic data readings from the biggest market, Philippine shares traded cautiously higher to kick start some early window dressing even as investors questioned the growth sustainability of the largest economy,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message.
Mr. Limlingan referred to the 3.5% growth of the United States economy during the third quarter, which beat forecasts of 3.4%. The growth, however, was slower than the second quarter’s 4.2%.
US indices fell last Friday, with the Dow Jones Industrial Average losing 1.19% or 296.24 points to 24,688.31. The S&P 500 index also shed 1.73% or 46.88 points to 2,658.69, while the Nasdaq Composite index plunged 2.07% or 151.12 points to 7,167.21.
Most Asian indices ended mixed on Monday, reflecting Wall Street’s losses last Friday.
Mr. Limlingan noted that concerns are not limited to the US, citing the weakness in Chinese firms amid the country’s ongoing trade war with the former.
“Profit growth in Chinese industrial enterprises slowed for a fifth month amid the ongoing US-China trade spat and a weakening domestic economy,” he said.
The property counter was the lone sub-index that ended with losses back home, dropping 0.48% or 16.98 points to 3,477.51. The rest went up, led by financials which rose 1.35% or 21.22 points to 1,584.78.
Holding firms advanced by 0.68% or 47.86 points to 7,005.75; services added 0.66% or 9.72 points to 1,471.31; mining and oil picked up 0.61% or 57.58 points to 9,468.80; while industrials gained 0.56% or 58.89 points to 10,581.30.
Some 552.99 million issues switched hands, resulting in a value turnover of P4.23 billion, thinner than the previous session’s P4.97 billion.
“Expect today’s low value turnover to continue to persist in the coming days especially with the long weekend ahead of us,” P2P Trade Online Sales Associate Gabriel Jose F. Perez said in an e-mail on Monday.
Mr. Perez also noted that sentiment in the US markets may continue to affect the performance of regional indices.
Net foreign selling was steady at P391.91 million, slightly lower than Friday’s P398.60 million.
Advancers outpaced decliners, 97 to 78, while 45 names remained unchanged.
The list of 20 most actively-traded stocks showed 12 advancers, including DMCI Holdings, Inc. (up 3.51% to P12.40); Universal Robina Corp. (up 2.92% to P133.80); San Miguel Corp. (up 2.19% to P168.10); and BDO Unibank, Inc. (up 1.98% to P118.30).

JPES holds this year's Equinomix in DLSU-Manila

The Junior Philippine Economics Society invites you to participate in this year’s Equinomix-Economic and Financial Literacy: A Tool towards Rational Decision Making as we celebrate the Economic and Financial Literacy week this November 10, 2018 at the Waldo Perfecto Room in De La Salle University Manila.
Catch our esteemed speakers this Equinomix 2018!

  1. Dr. Rosemarie G. Edillon – NEDA Undersecretary for Policy and Planning 2.
  2. Mr. Edmund Martinez – Assistant Vice President and Head of COL Premium 3.
  3. Mr. Melchor Plabasan – Deputy Director and Group Head of the Core Information Technology Specialist Group (CITSG), Bangko Sentral ng Pilipinas (BSP) 4.
  4. Dr. Benito L. Teehankee – Current trustee and Chair for Research and Vice-Chair for Education of the Shareholders Association of the Philippines, Current Vice-Chair of Corporate Social Responsibility Committee of the Management Association of the Philippines. 5.
  5. Dr. Lawrence Dacuycuy – Vice President of the Philippine Economic Society 6.
  6. Ms. Katie Buenaobra – Market Education team, Head, Sun Life Philippines

This seminar intends to provide the attendees with details about investment, the roles and responsibilities of an investor, stock market, cryptocurrencies, and fraud and scams.
The participants will also be given the chance to participate in various activities such as praxis which situates the players in real life setting where they initially have a job and may avail insurance, health and retirement plans throughout the session. To make the game more exciting, the Praxis Game Master, Mr. Jonathan Avila, may announce health and financial related crisis that will affect the decision making of the individuals. Another fun fact is that there will be a stock market where the players shall decide whether to go for low, medium or high-risk investments given the economic cycle.
Should you wish to participate in this significant gathering, here are the fees:
Member Organization-Registration Fee: PhP 250.00 inclusive of seminar kit, certificates and lunch.
Non-Member Organization- Registration Fee: PhP 300.00 inclusive of seminar kit, certificates and lunch.

Click this link to register: http://bit.do/ey3o7 
Deadline of registration is on October 31, 2018.
For any concerns, you may reach: Josephine Kate Rivera, VP for External and Academic Affairs, at 09551771397 or email her at external.jpes@gmail.com

Amid dour economic outlooks, the local semiconductor industry is still booming

Earlier this year, Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) projected a 6% growth in export sales, which they considered to be conservative amid the projected increase in demand for the commodity.
As of August this year, electronic product exports grew 7% year-on-year to $3.35 billion in free-on-board value, data from the Philippine Statistics Authority shows.
Semiconductors in particular posted a 7.7% year-on-year growth to $2.51 billion, taking up a 40.8% share of the whole commodity group.
But with the impending second package of Tax Reform for Acceleration and Inclusion (TRAIN) law expected to drive out investors by “rationalizing” the tax perks in the Philippines, exports-oriented industries—as well as investment promotions agencies—are less than optimistic about the near future.
US-based Maxim Integrated Products, Inc., however, claims the semiconductor industry will continue to grow for two reasons: Existing infrastructure and the workforce.
In fact, growth in this sector has been so rapid, demand for workers has outpaced labor supply. With 2,600 employees currently working at its testing facility in Cavite, Richard Allen Cohen, vice president for Maxim Integrated’s Asia factory operations, said they are still scrambling to make sure that they don’t run out of workers.
Maxim, a member of SEIPI, has been scouting for talent in colleges and universities throughout the country. To date, they’ve partnered with around 20 colleges and universities to “get the electronic courses to be more applicable in the semiconductor industry,” Cohen said.
Amid its campaign to help steer the country’ education system to suit the needs of the semiconductor industry, Cohen confessed that they still find it “a little hard to influence” as colleges and universities focus on getting their students to pass the board exams, rather than keep up with the demand of the industry.  
“A lot of the courses here [in the Philippines] really focus on the software and communications and those kind of things, specifically the products we make are for analog. They don’t teach a lot of that for school,” said John Nichols, Maxim’s vice president of Philippine operations.
According to Nichols, Maxim has been providing additional training for their workforce to suit their needs for 20 years. This includes both coursework and “hands-on” training where the future employees’ skills are applied on the line with a senior engineer in attendance.
Those who are accepted in their company undergo a three-month long training in its Cavite facility, with a preference for graduates of its internship program—about 60 to 70 a year.
“[O]ur hope is as people learn about the jobs in the industry and how good these jobs are, and how they can really have careers in the Philippines,” Cohen said. “They don’t have to go overseas. Then more and more kids and their parents will be attracted to our industry and provide us with more people.”
“[We have] to continue hiring. We need good people, no matter what,” he said.
 

Red Sox win World Series

LOS ANGELES — Steve Pearce slammed a pair of home runs and David Price tossed a seven-inning gem to power the Boston Red Sox to a 5-1 win over the Los Angeles Dodgers and their fourth World Series title in 15 years on Sunday.
The Red Sox, after winning a franchise record and Major League Baseball best 108 games during the regular season, carried their domination all the way to the World Series and overwhelmed the Dodgers 4-1 in the best-of-seven series.
The Red Sox clinched their ninth World Series title with a lethal combination of power and pitching.
Game Five starter Price surrendered one run on three hits in seven plus innings to collect his third straight postseason win, while all the Red Sox runs were scored via home runs.
Pearce, who was named the World Series most valuable player (MVP), gave Boston a 2-0 lead they would never relinquish with a two-run blast in the first and added a solo shot in the eighth. Mookie Betts and J.D. Martinez hit solo home runs.
Price said winning the World Series was the whole reason he came to Boston.
“Seeing all these grown men over there just acting like little kids, that’s what it’s all about,” he added. “To come out on top the way we did is unreal.
“This is why I came to Boston. I know it is a tough place to play and challenging with everything that was going to go on there.
“I’ve been through a lot the three years I’ve been there but this is why I came.”
The Dodgers and their fans arrived at Chavez Ravine on Sunday knowing only 13 teams had clawed their way back from 3-1 deficits to win a best-of-seven postseason series.
The last to do it was the Chicago Cubs against the Cleveland Indians in 2016 as they claimed their first World Series crown in 108 years.
Backed into a corner and with their bullpen worn out, the Dodgers turned to three-time Cy Young winner Clayton Kershaw, while the Red Sox countered with their Cy Young winner Price.
The chances of a Fall Classic pitchers duel seemed unlikely when both starters were clobbered for first-inning home runs.
After Andrew Binitendi singled, Pearce took the first pitch he saw from Kershaw and launched into the centre field bleachers for a 2-0 lead.
“Baseball is a funny game, great things can happen and I am very blessed to be here right now,” said Pearce, who has played for every team in the American League East. “That’s what our team is about we show up every single day.
“We knew we were going to be here the whole time and it is just a great feeling.”
The Dodgers, who were beaten by the Houston Astros in last season’s World Series, hit back right away when David Freese crushed a leadoff homer to get Los Angeles on the scoreboard.
The first-inning fireworks gave way to the pitching battle many had predicted with Price and Kershaw settling down and tossing four shutout innings.
Boston seized control in the sixth when Betts, in an 0-13 slump at the plate, smashed a solo shot while Martinez connected for a leadoff homer in the seventh.
Kershaw, who has never lived up to his Cy Young credentials in the postseason, endured another rough outing and gave up four runs on seven hits in seven innings of work. — Reuters

Regret, hope as Season 94 campaign ends for Letran

By Michael Angelo S. Murillo
Senior Reporter
WHAT was a competitive campaign in Season 94 of the National Collegiate Athletic Association (NCAA) for the Letran Knights came to an end on Oct. 26 when they lost to the Lyceum Pirates in their semifinal clash, a turn of events that the team viewed with regret and hope.
Carrying a twice-to-win disadvantage against the second-running Pirates, the third-seeded Knights tried very hard to buck the odds but in the end just could not pull it off as they slumped to the defeat, 109-85.
The loss effectively eliminated Letran, which wound up with a 13-5 record in the elimination round and was one of the more steady teams in the tournament.
Against Lyceum in the Final Four, Letran was in the contest for much of the way until floor general JP Calvo got hurt very early in the third period when they were starting to make their move.
The graduating Calvo was hurt in a loose ball scramble when Lyceum big man Mike Nzeusseu accidentally landed on his ankle.
Calvo had to be carried off the court by teammates after because he could not put much weight on his ankle.
He was able to return to the game but could not do much as his rhythm was no longer there.
Letran coach Jeff Napa lamented that what happened to Calvo changed the complexion of the game for them, believing that had their point guard was there it would have been a better story for them.
“When Toto (Calvo) went down it was a big blow for us because I think we were already ahead at that time. When he went down I saw the team was really concerned and everybody was affected. But we’re not using that as an excuse,” said Mr. Napa.
Also feeling sorry was veteran Bong Quinto, who like Calvo played his last game in the NCAA.
Quinto said he was very disappointed on how he played and felt he could have performed better, more so when Calvo got hurt.
“I could have played better. I wasn’t able to do much to help my team in this game. I’m disappointed because I’m one of the players the team was looking to but I was not able to deliver as much as I wanted to. I’m partly to be blamed for this loss but it’s already done,” said Quinto, who was part of the champion Letran team in Season 91.
LOOKING FORWARD
While their season came to an end earlier than they wanted to, the Knights are nonetheless are hopefully that next year will be a better one for them, armed with the lessons they had in Season 94.
“Next year will be a different story. A lot of players will be coming in from our Team B. We have already prepared ourselves for the departure of Bong and JP and the others who will be leaving. We are looking forward to Season 95,” said Mr. Napa.
“Next year, I expect Jerrick Balanza (had his season abruptly ended this year because of surgery to remove a tumor in his brain) will be a hundred percent. Bonbon (Batiller) is still there, and so do Larry Muyang, Christian Fajarito, and Jeo Ambohot. So I’m pretty confident of those of who will stay with us for next year. I think we can present problems to the other teams next year, more so that we are determined to bounce back,” the coach added, even as he said that he, too, learned a lot as a coach in Season 94.
The finals for of NCAA Season 94 will begin on Nov. 6 and will feature the rematch between defending champions San Beda Red Lions against Lyceum.

Petron Blaze Spikers ready to defend PSL All-Filipino title

THE Philippine Superliga All-Filipino Conference kicks off today with the defending champions Petron Blaze Spikers expressing readiness to defend their crown.
Petron, which won the title in 2017 over the F2 Logistics Cargo Movers, are going to be powered by veteran Ging Balse and a healthy Frances Molina as they set their title retention bid into motion.
Misses Balse and Molina will join forces with Rhea Dimaculangan, Aiza Maizo-Pontillas, Mika Reyes, Jasmine Alcayde, Buding Duremdes, Remy Palma, Pia Gaiser, Chloe Cortez, Angel Legacion, Carmela Tunay, Sisi Rondina, and Bernadeth Pons.
“We’re the defending champion, so there’s really pressure going into this tournament. But we’re confident that we had a good preparation in the off-season and we’re ready to go,” said Ms. Molina, who is coming off a stress fracture injury that led her to withdraw from the national squad that saw action in the 18th Asian Games and AVC Asian Women’s Cup in September.
For the Petron coaching staff, while they feel good of their chances of retaining the title, much work still needs to be done.
“Defending our crown will never be easy as all teams have prepared for this conference. We just have to go there and do our best in every game,” said Petron deputy coach Ian Fernandez.
Petron will begin its campaign against the Cocolife Asset Managers in the 4:15 p.m. game today at the FilOil Flying V Centre in San Juan City.
Other games will feature the Smart-PLDT Giga Hitters against Sta. Lucia Lady Realtors at 2 p.m. and the F2 Logistics versus Cignal HD Spikers at 7 p.m.
The PSL All-Filipino Conference is broadcast over ESPN5, Aksyon TV and Hyper HD. — Michael Angelo S. Murillo

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