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What to see this week

9 films to see on the week of September 13 — September 19, 2019

THE Pista ng Pelikulang Pilipino runs from Sept. 13 to 19, in selected cinemas nationwide. The films in the festival are below.

Circa

A VETERAN film producer wishes to celebrated her 100th birthday by reuniting with staff and actors she worked with throughout her career. Directed by Adolfo Borinaga Alix, Jr., the movie stars Anita Linda, Gina Alajar, Laurice Guillen, Jaclyn Jose, Elizabeth Oropesa, Ricky Davao, and Enchong Dee, with the special participation of the late Eddie Garcia.

MTRCB Rating: PG

Cuddle Weather

ADELA, an experienced prostitute, meets Ram, a newbie call boy. They have paid sex in adjacent motel rooms. When Ram finds out about Adela’s skills, he ask if she can teach him in exchange for a fee. They become “cuddle partners” until their relationship turns into an odd romance. Directed by Rod Marmol, the movie stars Sue Ramirez and RK Bagatsing.

MTRCB Rating: R-16

G!

FOUR FRIENDS go on a roadtrip to fulfill the bucket list of their cancer-stricken friend. Directed by Dondon Santos, the film stars McCoy De Leon, Jameson Blake, Paulo Angeles, and Mark Oblea.

MTRCB Rating: PG

I’m Ellenya L.

ELLENYA exemplifies the stereotypical millennial who dreams of becoming an vlogger with a big following. Directed by Boy 2 Quizon, the film stars Maris Racal and Iñigo Pascual.

MTRCB Rating: PG

Lola Igna

AT THE age of 118, Igna wishes to die already. However, the neighborhood in her town wants her to live long enough to win the world record of “The Oldest Living Grandmother in the World.” She finds the will to live upon the appearance of her grandson, Tim. Directed by Eduardo Roy, Jr., the film stars Angie Ferro, Yves Yro Flores, Meryl Soriano, Maria Isabel Lopez, Royce Cabrera, Chamyto Aguedan, Rener R. Concepcion, and Soliman Cruz.

MTRCB Rating: PG

LSS

SARA and Zak find themselves in a series of almost-but-not-quite romantic encounters while following the rise of an indie-folk band. Directed by Jade Castro, the film stars Gabbi Garcia and Khalil Ramos, featuring the music of Ben&Ben.

MTRCB Rating: PG

Open

AS A couple in a 14-year relationship, Rome and Ethan decide to explore seeing other people. They agree to have sex with strangers, but not fall in love with them. Directed by Andoy Ranay, the film stars JC Santos, Arci Muñoz, Ina Raymundo, Sofia Andres, Vance Larena, and Ivana Alawi.

MTRCB Rating: R-13

Pagbalik

A TROUBLED OFW comes home to reconcile with her family. Directed by Hubert Tibi and Maria S. Ranillo, the film stars Gloria Sevilla, Suzette Ranillo, and Vince Ranillo.

MTRCB Rating: G

The Panti Sisters


THREE GAY sons are visited by their estranged and ill father who offers an inheritance worth P300 million to whoever among them is able to give him a grandchild. Directed by Jun Robles Lana, the film stars Paolo Ballesteros, Christian Bables, and Martin del Rosario.

MTRCB Rating: PG

Watch Me Kill

A FEMALE assassin’s plans are interrupted as she discovers that her target might be hiding more than she expected. Directed by Tyrone Acierto, the film stars Jean Garcia and Jay Manalo.

MTRCB Rating: R-16

Women gained in income and jobs in 2018 — US Census

WOMEN are landing more full-time jobs, bringing in bigger paychecks and rising out of poverty, according to US Census data released on Tuesday.

Strong economic gains for female workers were a bright spot in a report that also showed the number of Americans without health insurance rose for the first time in a decade. The Census figures also showed household income barely budged in 2018 from the previous year.

Income figures show working women earning more money than they did during the boom years before the 2008 financial crisis, surpassing the gains for men.

Median earnings for women working full-time were 5.8% higher in 2018 than in 2007, before the start of the recession. Earnings for men working full-time were not statistically different from 2007.

Women, however, were still earning substantially less than their male peers. Median earnings for women working full-time amounted to 82% of the median earnings for men, reflecting a gender pay gap that was essentially unchanged in 2018 from 2017.

The Census findings also echoed a trend highlighted in the August monthly jobs report, which found that more women are either working or looking for jobs, shrinking the gender gap in the labor participation rate to the lowest level on record.

The share of working women with full-time jobs rose to 63.9% last year, a full percentage point higher than in 2017, according to the Census data. That was greater than the 0.7 percentage point increase in the portion of working men with full-time jobs, which rose to 76.3 percent in 2018.

The gains are helping more low-income women become more financially secure. The poverty rate for women fell to 12.9% in 2018 from 13.6% in 2017, while the poverty rate for men was 10.6% in 2018, not statistically changed from 2017. — Reuters

Malaysia keeps policy rate unchanged

MALAYSIA’S central bank kept its benchmark interest rate unchanged for a second straight meeting as the economy posts steady growth despite mounting global risks.

The central bank held its overnight rate at 3% Thursday, saying current policy is accommodative and supports the economy. Sixteen of 24 economists surveyed by Bloomberg correctly predicted the decision, while the rest had forecast a 25 basis-point (bp) cut.

“Domestic drivers of growth, alongside stable labor market and wage growth, are expected to remain supportive of economic activity,” Bank Negara Malaysia (BNM) said in a statement. “On the external front, Malaysia’s diversified exports will partly mitigate the impact of softening global demand.”

The bank kept its growth projection for this year unchanged at 4.3%-4.8%, but said it was “subject to further downside risks from worsening trade tensions” and other global uncertainties.

EARLY MOVER
Malaysia’s central bank was one of the first in Asia to cut interest rates this year with a 25 basis-point cut in May. While its peers have since moved ahead with bigger-than-expected cuts, Malaysia has stayed on hold with its economy growing above expectations and inflation low and stable.

“May’s preemptive, pro-cyclical ‘get ahead of the curve’ cut that was received positively by the market appears to have paid dividends, offering more scope for the BNM to hold off for now,” said Stephen Innes, an Asia-Pacific market strategist at AxiTrader Ltd. in Bangkok. “BNM are content to keep their powder dry for a rainier day.”

He also suggested the decision may have been influenced by Malaysia’s recent inclusion on a US Treasury watch list of potential currency manipulators.

Given the economy’s recent performance, “central bank governor Nor Shamsiah Mohd Yunus at this juncture might also be less inclined to drop interest rates to avoid the perception of embarking on competitive devaluation,” Innes said.

LOW INFLATION
The central bank said headline inflation is expected to inch up into next year but remain generally low, given the subdued outlook for oil prices and policy measures to keep food prices in check.

External risks such as the US-China trade war have remained a factor for Malaysia. The country may be benefiting from businesses relocating operations from China to Southeast Asia amid the trade war, but the greater risk of global recession could weigh on investor sentiment.

As one of the few net energy exporters in the region, Malaysia’s economy is also sensitive to geopolitical tensions that affect commodity output and prices.

Alex Holmes, an Asia economist with Capital Economics, said the Malaysian central bank is likely to resume easing as soon as its next meeting.

“With growth set to slow and inflation likely to be subdued, further easing looks likely,” Holmes wrote in a research note. “We are sticking with our forecast that interest rates will be cut by a further 25 bps later this year, most likely at the BNM’s next meeting in early November.” — Bloomberg

PHL to improve business data privacy standards

THE Philippines is taking steps to improve business data privacy standards, according to a National Privacy Commission (NPC) official.

This as the Philippines last month signed up to be the ninth country in the Asia Pacific Economic Cooperation Cross-Border Privacy Rules (APEC CBPR) system. The NPC also plans to create Philippine national privacy standards.

The APEC CBPR is a voluntary certification mechanism that allows member-companies to safely transfer data across APEC economies. The certification is expected to lower compliance costs as it removes the need to meet domestic privacy requirements of other countries.

“The benefit there is your [company data] practices will be recognized by other countries so you prevent data privacy being weaponized against you because you know that your standards are at par,” Privacy Commissioner Raymund E. Liboro told reporters after a Makati Business Club executive briefing on Thursday.

He said that there is a three-month gestation period following the Philippine’s application to join the APEC CBPR.

The Philippines would then need to nominate Accountability Agents — public or private agents that certify the companies — which will make certifications in the country recognizable in all jurisdictions.

The NPC also plans to launch the Philippine Privacy Marks before the end of the year, a data privacy and accountability 32-point checklist.

National certification marks may be recognized by other countries. “Part of our agenda with Singapore in the MoU [Memorandum of understanding] is the mutual recognition later on,” he added.

The Philippines and Singapore on Monday signed an MoU to share data best practices.

Mr. Liboro said that one of the biggest concerns in the Philippines is business data negligence, where data breaches due to carelessness happen.

“Being hacked is not a crime, but being negligent is,” he said.

He added that privacy is now becoming a differentiator among businesses, and that Filipinos are more likely to choose a company that is more trustworthy when it comes to data.

“This is really to enable widespread trust among businesses. That’s the end-all of the law —that everyone will trust business here. So that it can create social stability and employment,” he said.

Current APEC CBPR members include the US, Japan, Canada, Korea, Singapore, Mexico, Australia, and Chinese Taipei. — Jenina P. Ibañez

Revisiting your vision and mission

“The pace of change has never been this fast, yet it will never be this slow again,” said the Prime Minister of Canada Justin Trudeau during the World Economic Forum gathering. We have never seen a world as volatile, uncertain, complex, and ambiguous as it is now. Technology is progressing at break-neck speeds, giving rise to new competitors that grow exponentially. Consumer preferences are changing fast due to the entry of the younger generations who voraciously purchase online, forcing many traditional retailers to close shop.

If we examine companies which are losing out in the market, their vision and mission are not aligned to the entirely new environment where they operate. Hence, there’s a need to revisit your organization’s vision and mission, and revise or tweak it as often as possible to make sure it’s attuned to what’s happening in the environment.

Vision and mission serves as the anchor of your organization, from which your objectives, strategies, and execution are all aligned to provide value to customers and the organization’s shareholders. A well-crafted vision and mission drives loyalty across the organization, fosters customer engagements, and guides in the decision making and judgement of business leaders.

In our consulting work when revisiting a company’s vision and mission, I cite the example of Microsoft, a classical firm that lost out on several opportunities in the market due to its “old” VMV.

In 1980, when Bill Gates was at the helm of Microsoft, he had a clear vision: “A computer on every desk and in every home.” This had proven to be a powerful vision which resonated across the organization. Microsoft became a software juggernaut for the next couple of decades, with its operating system and productivity tools running in practically all computers in the world.

In 2000, Bill Gates stepped down and appointed his long-time right-hand man, Steve Ballmer as the new CEO. In a Microsoft conference then, Ballmer upheld the vision/mission of Gates, saying “We’re gonna put a computer on every desk in every home,” and described it as a “compelling vision.”

But the world has changed in early years of 2000. The internet started to flourish globally. Mobile phones led by Nokia was becoming ubiquitous, and computers are becoming smaller and smaller. We saw the growth of new tech players like Google with its Android operating system and device and mobile firms like Samsung, LG, and Apple.

Google had a compelling vision: “to organize the world’s information and make it universally accessible and useful,” while Apple’s mission under Steve Jobs was “to make a contribution to the world by making tools for the mind that advance humankind.” Both were compelling with no mention of a product or specific device.

When Jobs launched the iPhone in 2007, Ballmer was quoted in an interview that it has “no chance” of gaining significant market share. But iPhone was an instant hit, making Ballmer eat his words.

In an interesting turn of event, Microsoft launched Windows 8 Phone in 2010, which received lukewarm reviews due to its clunky features. During this time, Microsoft’s browser was also losing out to Google’s chrome, until its eventual demise.

In the fourth quarter of 2012, Microsoft posted a net loss of $492 million despite record revenue. Its misses in the past was starting to weigh in.

That’s why in 2013, Ballmer changed Microsoft’s mission: “No more computer on every desk.” The new vision/mission was “to create a family of devices and services for individuals and businesses that empower people around the globe at home, at work and on the go, for the activities they value most.”

Interestingly, Ballmer was still fixated with the device as the media, in a time when cloud computing was at its nascent stage. New companies “born in the cloud” emerged like Salesforce.com, and Amazon Web Services (AWS). AWS had a compelling vision/mission: “to enable developers and businesses to use web services to easily build and be paid for sophisticated, scalable applications.”

But in the same year, Microsoft acquired ailing Nokia’s smartphone business for a whopping $7 billion. It was almost predictably the biggest mistake Ballmer had made. In just two years, Microsoft wrote off $7.6 billion, and Ballmer admitted that the Nokia acquisition was a failure.

Ballmer announced his retirement in 2013. Under his helm, Microsoft significantly lost its share value from 2000 to 2013.

In 2014, Microsoft installed Sataya Nadella as its new CEO. Nadella, a veteran in Microsoft, said that the original mission of Bill Gates “always bothered me.” During this time, new tech competitors are leading the pack — Facebook, Google, Apple, Salesforce.com among others.

That’s why in 2015, Nadella laid out the new mission and vision of Microsoft. Its new mission: “to empower every person and every organization on the planet to achieve more.” Its new vision: “to help people and businesses throughout the world realize their full potential.”

In 2015, the new headline was “Microsoft got its groove back.” In 2019, Microsoft breached the $1-trillion market capitalization, as earnings beat expectation.

It truly pay to revisit your vision and mission.

 

Reynaldo C. Lugtu, Jr. is President & CEO of Hungry Workhorse Consulting, a digital and culture transformation firm. He is the Chairman of the Information and Communications Technology Committee of the Financial Executives Institute of the Philippines. He teaches strategic management in the MBA Program of De La Salle University. The author may be emailed at rey.lugtu@hungryworkhorse.com

Your Weekend Guide (September 13, 2019)

Passion

THE PHILIPPINE Opera Company opens its 20th anniversary with Stephen Sondheim and James Lapine’s 1994 Tony and Drama Desk Award-winning musical, Passion, at the Carlos P. Romulo Auditorium, RCBC Plaza in Makati City on Sept. 15 to 29. Set in war-torn Italy in 1863, Passion tells a story of a love affair between a young soldier, a beautiful married woman, and a sickly spinster. Directed by Robbie Guevara, it stars Jasmin Fitzgerald as Clara, Vien King as Giorgio, and Shiela Valderrama-Martinez as Fosca. Tickets are available through TicketWorld (www.ticketworld.com.ph, 891-9999).

Company: A Musical Comedy

UPSTART Productions presents Stephen Sondheim’s Company: A Musical Comedy on Sept. 13 to 22 at the Globe Auditorium, Maybank Performing Arts Theater, BGC Arts Center, Taguig City. Directed by Topper Fabregas, the musical follows 35-year-old Bobby who struggles to commit to a relationship or marriage. Tickets are available through TicketWorld (www.ticketworld.com.ph, 891-9999).

PPO concert

THE Philippine Philharmonic Orchestra, under the direction of Yoshikazu Fukumura, opens its 37th Concert Season titled, “Gold Classical Music Treasures,” with a concert on Sept. 13, 8 p.m., at the Cultural Center of the Philippines’ Main Theater, with pianist Noriko Ogawa as soloist. The night’s repertoire consists of Mozart’s Don Giovanni Overture, Prokofiev’s Piano Concerto No. 3 Op. 26 in C Major, and Dvorak’s Symphony No. 7 Op. 70 in D minor. Tickets are available through TicketWorld (www.ticketworld.com.ph, 891-9999).

Manila International Book Fair

ON ITS 40th year, the Manila International Book Fair returns on Sept. 11 to 15 at the SMX Convention Center, Mall of Asia Complex in Pasay City. The book fair includes activities such as seminars, workshops, book signings and co-located events such as Fandom Fest. For more information, visit http://manilabookfair.com/.

Harry Potter Concert

AS PART of the “Harry Potter Film Concert” series, the ABS-CBN Philharmonic Orchestra, conducted by Gerard Salonga, will perform Harry Potter and the Sorcerer’s Stone in Concert on Sept. 14 and 15 at The Theatre in Solaire. Relive the magic of the film in high-definition on a 40-foot screen while hearing John Williams’ score live. Tickets are available through TicketWorld (www.ticketworld.com.ph, 891-9999). For more information, visit www.harrypotterinconcert.com.

Rak of Aegis

THE hit Pinoy jukebox musical Rak of Aegis returns to the PETA Theater Center, with ongoing performances until Sept. 29. The show uses the songs of the Aegis band such as “Halik,” “Sinta,” and “Basang-Basa sa Ulan” to tell the tale of a perennially flooded barangay. Tickets are available through TicketWorld (www.ticketworld.com.ph, 891-9999).

Non-competitive, inclusive marathon

THE World Health Organization Philippines will hold the first non-competitive and inclusive marathon, “Walk the Talk Manila: The Health for All Challenge,” on Sept. 15, 7 a.m., at the Pacific Rim, Alabanf, Muntinlupa City. The event is open to all ages and is free-of-charge. There will be running, walking, and non-motorized wheels (e.g., wheelchairing) in different distances (3K, 5K, 10K), as well as biking (10K).

Jeans sale

OLD NAVY’s will hold a big sale on Sept. 15, with “Buy One, Get One” offers on jeans and select dresses and shirts, as well as 30% off the entire store. Old Navy has branches at Bonifacio High Street, Estancia in Capitol Commons, Glorietta 3, Robinsons Galleria, Shangri-La Plaza Mall, and SM Megamall.

How to give task ownership to employees

You have been a long-time advocate of employee empowerment and engagement. The trouble with such an approach is that management and their workers are often sidetracked by their basic priorities. This prevents people from working on special projects that they can do from planning to actual achievement of tangible results, with almost zero intervention from management. Please give me your advice. — Matt Yellow Submarine.

You’re familiar with the oft-repeated phrase “If there’s a will, there’s a way” and its own Tagalog version in “kung ayaw may dahilan, kung gusto maraming paraan.” That’s my short answer to your baseless predicament. Of course, there are many ways to assign special projects to people. However, you must consider that giving special assignments is an unnecessary burden that interferes with the back-breaking regular tasks of your workers.

Besides, task ownership is not limited to special projects but includes all those routine tasks found in one’s job description. But going back to your predicament, sometimes there a few others who lack ambition or skill who balk at the idea of performing other assignments beyond the scope of their job descriptions. If it’s within their job requirement, people still complain that management is being unfair and claim that they’re already overworked and underpaid.

And so how would you manage all of these issues and at the same time motivate people to work on their regular tasks and special projects that they can truly appreciate as their tangible accomplishments from start to finish? There are few strategies that will help you overcome the most common issues:

One, understand the areas where you should stop micro-managing people. It’s always tempting to control people and say — “my way or the highway.” But that’s not how it works with many people who are often irritated being managed by helicopter managers or those who hover over their shoulders almost every hour of the day.

As long as there’s a prior and mutual understanding of the objectives, timelines, standards, and resources, among other parameters, there’s no reason why management should not give enough space and freedom for their workers to do their job on their own.

Two, require each worker to identify and work on their own special projects. You don’t have to copy Google that allows its workers to dedicate 20% of their time to side projects, in addition to their regular work responsibilities. As a start, you can settle for workers setting aside 10% or about four hours a week so they can work on their creative side.

This may include doing things that don’t need prior management approval and at the same time allows people to fail without any serious repercussion as long as they report and learn from the process and its results.

Three, allow employees to accept or reject any additional assignment. Or much better, require them to challenge the wisdom of having this additional burden being given to employees. Don’t take it negatively. Instead, management must create a system where employees volunteer for certain projects instead of forcing someone to do it.

This is particularly true if only to avoid the issue of complainers who will resent the fact that being hard workers must not be rewarded with additional work. By doing this, you may even be surprised to find out there are willing workers out there to take the job for you.

Four, let the workers know in advance about their authority on the project. Recognize the fact that almost everyone wants to experience working like a boss from time to time provided they are given reasonable and independent authority to work on certain projects.

This is one basic reason why there are certain employees who don’t want to volunteer for certain tasks because they don’t want to be burdened with so many unnecessary rules that constrict their movement. It is enough that they know the standards and timelines on what to report for their milestones or as soon as they have completed a certain project.

Five, recognize those who have completed difficult assignments. It doesn’t have to be in material form. Even something as simple as a sincere marginal note to a document or an email thanking those workers for the job they did can do wonders for their morale. Be specific and genuine as possible. Don’t resort to a template answer so it will not sound fake. And don’t do it as a matter of routine or it will lose its significance in the long term.

If the accomplishment is extraordinary, be generous with praise to those who have done a lot in making them happen.

Last, work jointly with each employee to develop his or her career goals. Usually, this is done as part of the formal performance appraisal. Just the same, don’t limit the discussion during the once-a-year evaluation exercise. Management must continually look for areas where existing employee skills can be improved or learned. This is not limited to attending a training program alone. Sometimes, the best approach is when management would assign a person to a different job, geographical location and work situations.

Even if you don’t assign special projects to people, you can still give the full ownership or title to workers to their tasks as defined by their respective job description. It is as simple as management limiting itself explain the “why,” then let the employees figure out the “how” part.

ELBONOMICS: Ownership is defined by one who has committed a lot of mistakes.

 

Send anonymous questions to elbonomics@gmail.com or via https://reyelbo.consulting

How PSEi member stocks performed — September 12, 2019

Here’s a quick glance at how PSEi stocks fared on Thursday, September 12, 2019.

 

The Philippines’ bread-and-butter export

The Philippines’ bread-and-butter export

Hanjin creditors close to deal with investor on Subic shipyard

THE Subic Bay Metropolitan Authority (SBMA) said creditors are close to a deal for the takeover of Hanjin Heavy Industries and Construction Philippines, Inc., with foreign investors currently in talks with banks on how to proceed with the bankrupt shipbuilder’s facilities and work force.

SBMA Chairman Wilma T. Eisma told reporters Thursday she was informed the creditor banks are “getting very close” to concluding negotiations for the bankrupt shipbuilder.

“As we speak, (the creditors are seeking) exclusive discussions with a particular entity,” she said in a chance interview with reporters in Subic yesterday.

“The hope is that they’ll be able to finish discussions by the end of October, and we’ll be able to announce in December the final path for Hanjin to take.”

She did not identify the entity speaking to the creditors, but added that “interested foreign investors” have agreed to accommodate the 33,000 Hanjin employees that were laid off when the shipbuilder declared bankruptcy earlier this year.

“Right now, the only thing I can tell you is that there is more than one foreign company that’s actually in discussions with the creditor banks. And Filipino companies are also very interested,” she said.

In January, the Philippine unit of the South Korean shipbuilder filed for corporate rehabilitation due to “serious financial trouble,” leaving some $412 million in outstanding loans with Philippine banks and some $900 million with South Korean lenders.

The company still owes $145 million to Rizal Commercial Banking Corp.; $85 million to Land Bank of the Philippines; $70 million to Metropolitan Bank & Trust Co.; $60 million to BDO Unibank, Inc. and $52 million to the Bank of the Philippine Islands.

Since its shutdown, the Board of Investments (BoI) said several foreign investors have expressed interest in taking over the operation, including two unnamed Chinese shipbuilders and Dutch firm Damen Shipyards Group.

International Container Terminal Services, Inc. (ICTSI) likewise expressed interest in acquiring some assets of Hanjin, saying in April that it was talking to banks to develop a “master plan” for the shipyard. Hanjin’s assets are estimated at about $1.6 billion.

Hanjin was one of the biggest shipbuilders in the Philippines before it filed for bankruptcy this year. The Philippine unit of South Korea’s Hanjin Heavy Industries and Construction Co., Ltd. started operating its shipyard at the Subic Bay Freeport Area in 2006. — Denise A. Valdez

NFA hikes buying price, releases imported rice

THE Department of Agriculture (DA) said Thursday that the National Food Authority (NFA) will increase the buying price for palay, or unmilled rice, to P19 from P17 while also removing add-on incentive payments under the old scheme.

At the same time, the NFA will release 3.6 million bags of imported rice onto the market until early October, to increase supply in key cities and keep retail prices low.

Agriculture Secretary William D. Dar said the NFA Council approved these measures at a Sept. 10 meeting.

The NFA pays a support price to farmers as a buyer of last resort to reduce their exposure to low prices for palay offered by traders.

According to the NFA website, the agency buys palay under the old scheme for a P17 per kilogram basic payment. Incentive payments for delivery and drying can bring the final price to as high as P20.70 for farmer organizations and P20.40 for individual farmers.

“The Council of the NFA decided for the National Food Authority to flood the Metro Manila market and other cities of the country nationwide with the NFA-imported rice. The 3.6 million bags will be out until October 10,” he said.

The imported rice started to be released on the market Thursday, in an apparent attempt to break the hold of what the DA has called “price manipulators” and “hoarders” on retail prices.

“Continuous ang paglabas ng (The release is continuous for the) 3.6 million bags of imported rice from NFA at the rice of P25 [per kilo] wholesale and P27 retail,” he said.

At P27 per kilo, the 3.6 million 50-kilogram bags will raise P4.86 billion, which the NFA will apply for domestic palay procurement.

“We would like to believe that flooding the market with 3.6 million bags of rice will further have an impact in terms of lowering (retail) prices,” Mr. Dar said.

NFA Administrator Judy Carol L. Dansal said that she expects the retail price of rice to fall to P32 to P34 per kilo from the current P40.

“The reasonable price of rice in the markets should fall within P32 to P34 per kilogram, but if you look at the markets now, the lowest price is P40 per kilo,” Ms. Dansal said.

She said setting the support price at P19 per kilo removes the incentives payments, which were offered in 2018 due to the “abnormal” conditions in the rice market.

The old incentive scheme include payments of P3 per kilo as a buffer stocking incentive (BSI); P0.20 for drying, a further P0.20 for delivery, and a P0.30 cooperative development incentive fee for qualified recipients. — Vincent Mariel P. Galang

Energy efficiency seen playing bigger role in future power usage

AUSTIN, TEXAS — Energy efficiency measures or economic activities that aim to reduce the amount of energy required to provide the same amount of benefit or service will play an important role in the generation mix even as their present share remains minimal.

“One of the areas we’ve been really engaged in a number of countries in Asia, including the Philippines and Vietnam, is on air-conditioning efficiency because that is such a huge power need in demand as development continues,” Kent D. Logsdon, principal deputy assistant secretary of the US State department’s Bureau of Energy Resources.

“More and more people are looking for air-conditioners and obviously if you have air-conditioning that is not of the highest technologies then you’re gonna have a lot of loss and a lot of waste,” he added.

He said in Europe, studies show the demand for energy fluctuates for development reasons but also sometimes because energy efficiency initiatives.

“There is a certain trajectory as you look over time that there will be less consumption in developing countries and developed countries as well because we’re more efficient,” he said. “The efficiency means you require less energy and you require less, in a way, of fossil fuels or renewables or whatever the source it’s gonna go down as efficiency goes up.”

These activities that results in the production of more output from the same amount of energy will only get better over time, said Becky Klein, principal of Austin-based energy consulting firm Klein Energy, LLC.

“We don’t count that into the mix. It’s just too small,” she said.

But she said new technologies are coming into the market that are helping boost energy efficiency.

“[These technologies are] what you see already on your phone being able to control your temperature remotely and turning off your lights remotely,” she said.

Ms. Klein said artificial intelligence and machine-learning technologies are also coming into play to help utilities in predicting electricity usage.

“[They] tell you in advance when to unplug things in your home, when to turn your temperature up, and I think that’s gonna become more and more significant over time,” she said.

Based on statistics from the US Energy Information Administration, the United States uses and produces different types and sources of energy, which can be grouped into general categories such as primary and secondary, renewable and nonrenewable, and fossil fuels.

Primary energy sources include fossil fuels such as petroleum, natural gas, and coal; nuclear energy; and renewable sources of energy. Electricity is a secondary energy source that is generated from primary energy sources.

In 2018, the primary energy consumption in the US by energy source shows petroleum accounted for 36%, followed by natural gas at 31%, and coal at 13%. Nuclear energy made up 8%, or lower than the 11% usage for renewable energy.

“I think coal will continue to decrease, and nuclear will maybe go down a little,” said Russel Gold, University of Texas journalism fellow and book author.

He said the decline in the share of coal would be picked up by gas and renewables.

“We’re quickly heading towards basically a gas and renewable market in the United States,” he said. — Victor V. Saulon

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