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Federer beats Medvedev into Miami Open quarters

MIAMI — A clinical Roger Federer took a confident step towards a fourth Miami Open title on Wednesday, easing past 13th-seeded Russian Daniil Medvedev 6-4 6-2 to book his spot in the quarter-finals.
Federer, a winner of 100 career titles, can look back on dozens of brilliant performances and the Swiss maestro could add his ruthless fourth-round win over the red hot Russian to that list.
With 17 match wins, no player has had more success this year than the lanky Russian but Medvedev had no answers for a rampaging Federer, who needed just 61 minutes to reach the last eight, where he will take on towering sixth-seeded South African Kevin Anderson.
“There were really long rallies, tactical points. The big points went my way and that was the difference,” said Federer.
“I’m serving great this week and hope I can keep it up in the next round.”
The match got off to a routine start until Federer took control.
With Medvedev 4-3 up in the first, the 20-times grand slam champion swept the next five games to take the opener and a 2-0 lead in the second.
Medvedev halted the bleeding with a hold at 2-1 but there was no stopping the fourth-seeded Federer who claimed a second break to go up 5-2 and then had an easy hold to seal a business-like victory.
The Russian could not convert any of his three breakpoints, while Federer took all three of his.
Federer’s fourth-round contest had been scheduled for Tuesday but was moved due to rain, giving the 37-year-old Swiss little time to recover before facing the hard-hitting Anderson, who was a 7-5 7-5 winner over Australian Jordan Thompson.
Defending champion John Isner came out on the winning side of two tie-breakers in his afternoon battle with Roberto Bautista Agut to advance 7-6(1) 7-6(5) to the semi-finals of the tournament, where he has yet to drop a set.
The seventh-seeded American thumped 25 aces to see off the Spaniard and will next face either 18-year-old Canadian Felix Auger Aliassime or defensive baseliner Borna Coric, who play their quarter-final in the night session on Wednesday. — Reuters

Curry, Durant propel GS Warriors past Grizzlies

LOS ANGELES — The Golden State Warriors needed a late surge and 28 points apiece from Stephen Curry and Kevin Durant to hold off the host Memphis Grizzlies 118-103 on Wednesday night.
Curry hit six 3-pointers and Durant missed just one shot for the Warriors (51-23), who moved a half-game ahead of Denver (50-23) in the race for the top seed in the Western Conference.
The Warriors, who own a 2-1 lead over the Nuggets in their season series, host Denver one final time on April 2.
Jonas Valanciunas (27 points, 13 rebounds) and Bruno Caboclo (17 points, 13 rebounds) recorded double-doubles for Memphis, which lost for just the second time in its last seven home games.
The Warriors found themselves trailing 92-91 after two free throws by Chandler Parsons with 9:25 remaining, before taking the lead for good on a Shaun Livingston hoop nine seconds later.
Durant then scored the next seven points (two free throws, a 3-pointer and a two-point jumper) to increase the Golden State lead to 100-92 with seven minutes to play.
After a 3-pointer by Caboclo and a free throw by Valanciunas cut the Memphis deficit in half, the Warriors got two consecutive hoops from Livingston and one apiece from Draymond Green and DeMarcus Cousins to finally pull away from a team that’s already been eliminated from playoff contention.
Curry complemented his 28 points with 10 rebounds and seven assists for the Warriors, who won for the fifth time in their last six road games and 25th time in 37 road games this season.
The Warriors, who complete a two-game trip Friday night at Minnesota, lead the NBA in road winning percentage.
Durant shot 12-for-13 en route to his 28 points, helping Golden State connect on 53.6% for the game. — Reuters

Halep sees off Wang, will face Pliskova in Miami semis

MIAMI — Simona Halep overcame a hiccup in the second set to secure a 6-4 7-5 Miami Open quarter-final victory over China’s Wang Qiang on Wednesday, putting the Romanian one win away from reclaiming the world’s top ranking from Naomi Osaka.
Standing in her way will be Karolina Pliskova, who endured a blip of her own in the second set before defeating Marketa Vondrousova 6-3 6-4 in the evening session.
Halep broke Wang three times to race into a 4-1 lead before closing out the first set when she cut off the angle on a short forehand and blasted a winner into the open court.
But Wang came out firing in the second set, breaking Halep three times and holding to love in back-to-back service games to build a 5-1 lead.
The second seed stormed back but Wang nearly forced a third set when she quickly jumped out to 0-40 in the 10th game, only for the Romanian’s confident net play to get her out of the jam.
Halep then went on to wrap up the win over 18th-seeded Wang in 89 minutes and match her best effort in Miami, which came in 2015 when she lost to Serena Williams in the semis.
“Playing again in the semi-finals is going to be a big challenge. And maybe I can do my best result here and play in the final,” Halep said on court. “It’s going to be a big match in the next round.” — Reuters

Woods is still Woods

By all accounts, Tiger Woods had a mediocre round at the Austin Country Club yesterday. Three birdies and three bogeys that included an inexcusable three-putt effort on the 14th hole pretty much summed up his up-and-down run. Even his irons, invariably the best clubs on his bag, were off, leading to head-scratching ball positions on the greens — or, worse, short of the greens — even after lengthy discussions with caddie Joe LaCava. And yet the World Number 14 sounded more relieved than downcast in the aftermath, contending that “there’s no scorecard except for whether you won the match or not.”
Needless to say, Woods was on the mark in his assessment. The Dell Technologies Match Play Championship is unlike any other event on the tour schedule. In fact, it’s unlike even previous iterations of the World Fold Championships stop; four players in each of 16 predetermined groups go up in round-robin format to determine who among them advances to sudden-death affairs under match-play conditions. And because holes won, lost, or drawn are counted against a given partner’s tally, the aggregate number of strokes doesn’t matter. After prevailing over PGA Tour Rookie of the Year Aaron Wise, he joked that his score was “not very good. Not very good. I broke 80.”
Moving forward, Woods will have to do much better if he wants to make the weekend. Up next is Brandt Snedeker, who hasn’t been able to put up a number superior to his in the 14 times they’ve been paired together on tour. Still, as he noted, his friend boasts of a hot putter, “and, in this format, that’s what you need to [have].” The good news is that he’s in prime physical shape and far removed from the neck issues that compelled him to miss the Arnold Palmer Invitational early this month. “I’m able to get into a better posture, and that helps. And because of that, I’m able to log in a little bit of practice time.”
That said, the pride of Texas has presented a challenge, especially with swirling winds. Pin placements are on the tough sides, closer to mounds and ridges and potentially damaging to players off misjudged approach shots. Of course, Woods is Woods, arguably the most accomplished match-play competitor in the sport’s history. More than talent and experience, there is his resolve. And with fortunate bounces, he may yet get to negotiate the course seven times over five days and ultimately emerge victorious.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Online learning: Five tech skills to build your next creative project

When talking about careers in tech, one might immediately jump to developing apps and jumping between complicated coding projects. But coding isn’t just a science; it’s an art. And with a solid baseline of fundamental tech skills, a little creativity goes a long way.
This mix of skills is becoming more and more important as jobs become more specialized. According to a 2019 report by LinkedIn Learning, some of the most in-demand hard skills are in the design, marketing, and production arenas, most of which entail expertise on a particular skill set.
Luckily, there are thousands of online courses available to help you seize these opportunities, at your own pace. Here are five of these creative tech skills and where you can learn them:

Computer graphics/CAD

Rendering computer graphics is a widely-needed skill needed in a great range of industries. The software to be used varies on the intended purpose: AutoCAD is mostly used in architecture, engineering, and product design, for instance, while OpenGL can be used for VR and scientific visualization.
“AutoCAD 2017 Essential Training” takes you through the program’s tools, culminating in how to draw and create models using the functions. If you’re also interested in learning OpenGL, “Learning OpenGL” similarly introduces the program and discusses how to utilize it.

Video production

When it comes to content creation in the digital age, video is still king. It could be your favorite series, a 6-second ad, or the new summer blockbuster film. Video consumption is increasing across different channels — and demand for those who can produce it is higher than ever.
“The Complete Video Production Bootcamp” offers courses on the basics, even including a lesson on how to bring your video to a wider audience. On the other hand, “Video Editing Training” does a deep dive on specific skill sets and the tools and software that you need to master them.

Animation

While films and cartoons are still arguably the most popular platforms of animation, its usage has crossed over to similar media such as video games, virtual reality (VR), and augmented reality. This increasing demand is translating to an increase in profits, with the global industry expected to earn $270 billion by 2020.
Many professionals in the industry are sharing their expertise through online schools, some of the most popular being Animation Mentor and iAnimate. If you’re looking for short courses, AMA University Online offers a bevy running from 2D/3D animation to modeling cartoon characters using the Maya software.
 

Mobile app development

Apps have become an indispensable part of our mobile experience, whether for work or leisure. Annual app spending is a great indicator: Newzoo reported $92.1 billion in revenue for 2018, and it’s expected to climb up to $139.6 billion by 2021.
Since the market is a mix of users on various kinds of devices, it may be wise to get acquainted with different operating systems. “iOS 12 Development Essential Training” is a two-part course on fundamentals and web distribution, while “Android Development for Beginners” focuses on the basics for the platform.

Game development

The gaming industry is enjoying massive growth, projected by Newzoo to have earned around $138 billion by the end of 2018. There’s much going on in our shores as well, one of the buzziest news being the opening of Ubisoft Philippines last August.
While it’s surely a dream for gamers to join such companies, an understanding of theory and knowledge of software would first be needed as a foot-in-the-door. Courses like “Introduction to Game Design” and “Introduction to Game Development” can help jumpstart the journey, while more tech-centric courses like “3D Game Development” delve deeper into the different software such as Blender and Unity.

Economists count budget delay’s Q1 cost

By Charmaine A. Tadalan
Reporter
ECONOMIC GROWTH this quarter could hover close to last quarter’s pace but will be substantially slower than the year-ago clip when official data is reported on May 9, according to economists asked on Wednesday, citing primarily the impact of delayed enactment of the P3.757-trillion national budget for this year.
The bicameral dispute over the 2019 national budget — which was supposed to have been enacted by end-2018 — ended on Tuesday when Senate President Vicente C. Sotto III finally signed and transmitted it to the Office of the President on Tuesday, even as he formally noted the Senate’s reservations about P95-billion post-ratification fund allocations made by the House of Representatives.
House Appropriations committee chairman Rolando G. Andaya, Jr. of Camarines Sur’s 1st district on Wednesday stood by the “legality” and “constitutionality” of the 2019 national budget. It is now up to President Rodrigo R. Duterte to maintain or veto the provisions questioned by the Senate. “Kung nais pong i-veto ng Presidente nasa karapatan naman po niya, at taon-taon — kada budget — meron naman po talagang veto message. Ayun naman po’y tinatanggap ng Kongreso at wala naman pong problema (It is the President’s prerogative to veto budget items, as he does yearly through a veto message with every budget. Congress accepts that and there will be no problem),” Mr. Andaya said in an interview over radio station dzMM.
Socioeconomic Planning Secretary Ernesto M. Pernia said on Tuesday that “Q1 growth rate [is] already likely to be trimmed” as a result of delayed budget enactment. The inter-agency Development Budget Coordination Committee the other week slashed its 2019 gross domestic product (GDP) growth forecast to 6-7% from 7-8% originally as the government operates on a reenacted budget, while the National Economic and Development Authority — which Mr. Pernia heads as director-general — has estimated separately that operating on a reenacted budget until April would cut full-year growth to 6.1-6.3%.
Sought for his estimates on first-quarter GDP expansion, ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said in an e-mail on Wednesday that the pace would likely be “below six percent to 5.8%.”
“Slower government spending, coupled with likely weaker capital formation due to elevated borrowing costs and base effects will collectively set the bar high for GDP to top the six-percent handle,” Mr. Mapa said.
For Ruben Carlo O. Asuncion, chief economist at the Union Bank of the Philippines, Inc., and Sun Life Financial economist Patrick M. Ella, first-quarter GDP growth could clock in at 6.2% and six percent, respectively, while Rizal Commercial Banking Corp. (RCBC) economist Michael L. Ricafort said it could come in at “at least six percent.”
Those estimates compare with last quarter’s 6.1% and the 6.6% actually recorded in last year’s first quarter.
“This largely looks like the previous quarter’s economic growth and may be due to the lagged impact of slower inflation,” Mr. Asuncion said in a separate email.
The overall rise of prices of widely used goods slowed for the fourth straight month to a one-year-low of 3.8% in February from the nine-year-high 6.7% clocked in September and October last year. Last year saw headline inflation clock in at 5.2%, the fastest in nearly a decade.
“The pick-up in domestic consumption demand is likely to be felt by ending Q2 and beginning Q3 this year,” Mr. Asuncion said, citing the impact of inflation that appears to be finally sliding back into the central bank’s 2-4% full-year target range, with the pace in 2019’s first two months averaging 4.1%.
The Philippine Statistics Authority is scheduled to report March inflation on April 5.
Household spending, fueled partly by remittances from Filipinos working abroad, contributes about 70% of economic output.
RCBC’s Mr. Ricafort said slower growth in government spending due to the delayed 2019 budget enactment was the main drag on growth, offset by bigger business and household spending due to easing inflation and consumption related to the May 13 mid-term elections, among others.
‘WHAT IS LOST IS LOST’
The government had been banking on front-loading infrastructure work this quarter, ahead of the 45-day ban on public works starting March 29 ahead of the May 13 midterm elections and weather disturbances next semester. The reenacted national budget left new projects unfunded.
Finance Secretary Carlos G. Dominguez III told reporters in Clark economic zone on Wednesday that the government is now hard-pressed to catch up with infrastructure work.
“… [I]t is already late. It is already election ban, so I don’t know if they can really catch up. With the awarding of the contracts, election ban [is] two days from now, how can you award a contract?” Mr. Dominguez said.
“The budget is not yet effective, because even if it is all okay, they still have two weeks to publish it,” he added. “Time is lost. What is lost is lost. No matter how much you want to catch up, you can never really catch up especially that the weather has been so good for the past almost three months or four months. Sayang (That opportunity is gone).”
Consequently, the government’s 6-7% GDP growth target for 2019 “becomes less attainable,” Mr. Dominguez said.
“It is like a balloon. You put a little weight in it, it cannot fly as high.”
ING’s Mr. Mapa said all eyes are now on Mr. Duterte, particularly how soon he will sign the 2019 national budget into law and how much of it he may veto.
“Our full-year forecast is currently at 6.3% but if the budget impasse continues and the bill remains unsigned by the President, we may have to revise this slightly lower,” Mr. Mapa said.
“Government spending was one key contributor to growth in 2018 as it helped offset slowing private sector consumption last year. Even if consumption rebounds in 2019, delayed government outlays and weaker capital formation (public construction is part of this) may offset the recovery in household spending.”
For RCBC’s Mr. Ricafort, “Philippine economy/GDP for 2019 could still grow by 6.5-7% for 2019, similar to earlier estimates amid the easing trend in inflation and interest rates in the coming months of 2019 that may increase incomes and spending power of consumers and businesses.” — with Reicelene Joy N. Ignacio

Banks’ bad loans grow in January

BAD LOANS held by big banks grew in January to outpace lending growth, the latest central bank data showed.
Non-performing loans (NPLs) of universal and commercial banks rose to P131.356 billion, picking up from just P113.518 billion in December and jumping 29.6% from the P101.391 billion problem debts as of January 2018, according to the latest data from the Bangko Sentral ng Pilipinas (BSP).
NPLs are loans left unpaid for at least 30 days beyond due date. These are considered risky assets given the slim chance for borrowers to settle these liabilities, in turn spelling losses for lenders.
January’s increase outpaced the 13.1% increase in banks’ total loan portfolio to P8.852 trillion from P7.827 trillion a year ago.
As a result, the share of NPLs rose to 1.48% of total loans as of January, compared to 1.3% a year ago.
Past due loans, which cover all types of overdue payments, also went up by a third to some P182.82 billion. Meanwhile, debts enrolled for restructuring — or longer repayment periods — dropped by 16.5% to P31.506 billion.
Despite the rising NPLs, big banks added a mere three percent to their allowance for loan losses. The figure went up to P152.457 billion from P148.978 billion previously. This is enough to fully cover bad debts if they were completely written off, although the coverage ratio is down to 116.06% from 146.93%.
Meanwhile, bank deposits continued to grow in January to P11.389 trillion, 7.1% more than P10.635 trillion a year ago.
The central bank monitors the NPL ratios of banks and other monitored financial businesses in order to keep track of asset quality and safeguard the soundness of the financial system.
The latest NPL tally sustains a trend seen in 2018, when the share of NPLs in total debts rose to break a decline seen since 2013.
The bigger stash of problem loans came after the BSP raised benchmark borrowing rates by 175 basis points last year, with the five successive rate hikes meant to rein in inflation expectations. The key rate rose to 4.75% from three percent — a nine-year high — which in turn pushed market yields higher.
BSP Deputy Governor Chuchi G. Fonacier has said that the higher NPL tally may be attributed to a “stricter definition” of past-due and non-performing loans as provided under a recent circular.
S&P Global Ratings said in a recent webcast that it expects the rising share of soured debts to persist this year, although the ratio is expected to “remain very low.”
Big banks saw NPLs reach 1.26% of total loans last year, while the industry-wide ratio stood at 1.77% of all loan books. — Melissa Luz T. Lopez

Power grid operator flags spike in demand

THE NATIONAL GRID Corporation of the Philippines (NGCP) is bracing for power demand to hit a record high in this year’s dry season, prompting the privately owned grid system operator to call on consumers to use energy efficiently.
“Peak power periods in Luzon are expected within the months of April and May, with the rising temperatures prompting a spike in demand,” the company said in a statement on Wednesday.
NGCP said it was “gearing up” for the coming dry season as the Department of Energy (DoE) expects electricity demand in Luzon to reach 11,403 megawatts (MW), nearly five percent more than the previous year’s peak.
Last year, actual peak demand registered in Luzon was 10,876 MW, which was recorded on May 28.
“The demand for power has been increasing year-on-year. With the DoE’s forecast breaching 11,000 MW, NGCP’s system operations is working round-the-clock to ensure the sufficient supply of power during the critical summer months,” the company said.
“Constant coordination is also being done with power generating plants to make sure that maintenance shutdowns will not coincide with the peak periods within the summer.”
NGCP also called on consumers in the Visayas and Mindanao to use power efficiently in the summer months when it expects power supply to be lean. “Visayas and Mindanao have also reached new highs in terms of peak demand in 2018,” it said.
Last year, demand in the Visayas grid peaked at 2,053 MW on May 24, while demand in the Mindanao grid reached 1,853 MW on Dec. 13.
For 2019, the DoE expects almost a 12% increase in demand in Visayas load growth with a projected peak of 2,299 MW.
In Mindanao, demand is projected to hit 2,130 MW, or higher by almost 15%.
The peak periods in both areas are expected in the final quarter of the year.
“We all can positively contribute to energy efficiency, even at the individual or household level. The simple practices we do to save electricity consumption will go a long way. Cleaning the fan blades of our electric fans, aircon filters and dust in lightbulbs will help our appliances function more efficiently,” NGCP said.
“Unplugging appliances when not in use and scheduling the use of electricity-heavy appliances, such as irons and washing machines, to off-peak periods (before 11 a.m. and after 7 p.m.) will help a lot in saving electricity consumption, ensuring better power flow within the grid,” it added.
The company also assured industry stakeholders that it was continuously developing the power grid to accommodate additional loads from power generation companies and enable better transmission of power across the country.
“We are expediting the completion of projects aimed to accommodate this increase in demand. NGCP appeals for the support and cooperation of local government units and the public as we hope to complete these projects at the soonest possible time to prevent any negative impact on power supply during the dry season ahead,” the company said. — VVS

With Fed pause, list of potential Asia rate cutters grows

SEOUL/HONG KONG — A slowing global economy and abrupt end to Federal Reserve policy tightening have shifted rate cut expectations in Asia to probable from possible, with the market betting on moves by a growing list of central banks.
New Zealand sent the clearest signal on Wednesday when its central bank kept interest rates at a record low of 1.75%, but said a weak external environment meant its next move was more likely to be a cut.
Money markets are pricing in a strong chance of a cut in Australia this year.
The Philippines, India and Indonesia also have room to reverse some of last year’s multiple interest rate hikes aimed at protecting the peso, rupee and rupiah from emerging market turmoil, economists say. In Malaysia, rate cut calls are growing louder as inflation has turned negative, while policy makers in Japan debated further stimulus amid concerns over waning global demand, according to minutes from the Bank of Japan’s March meeting.
A new and unexpected member of the club of potential rate cutters is South Korea, where the government bond yield curve has flattened rapidly, signalling economic weakness that economists believe the Bank of Korea may address.
In China, although reductions in bank reserve requirements are seen as Beijing’s main monetary policy easing tool, some analysts also expect cuts in benchmark rates.
“This shifting growth-inflation mix combined with a concluded Fed tightening cycle calls for a significant change in the course of monetary policy across Asian economies,” ANZ economists said in a quarterly note on Wednesday.
“We now expect all central banks in the region to either hold interest rates or move into accommodation mode.”
This is a remarkable turnaround.
Only last year the debate in trade-deficit countries was about how high rates could go, and Japan’s central bank was contemplating exiting unorthodox stimulus policies.
However, the tone in Asia is not set only by the Federal Reserve.
China’s trade war with the United States and several measures to curb financial risk-taking last year are weighing more heavily than expected on the world’s second biggest economy and Asia’s growth engine.
Inflation in most Asian economies is below or at the lower end of central bank targets.
Expectations for monetary policy easing have risen with the emergence of a bad omen for economic growth in the United States, and implicitly, the world.
Yields on benchmark US 10-year Treasury notes fell below three-month rates on Friday for the first time since mid-2007, an inversion that preceded every US recession over the past 50 years.
This time might be different because central bankers are not worried about inflation and low yields are a global malaise.
Still, investors and policy makers have taken notice.
Former Fed chief Janet Yellen told a Hong Kong conference on Monday that while the yield curve inversion may not herald a recession, it might signal the need to cut rates.
Extend that rationale to flattening yield curves across Asia, and the circle of potential rate cutters is expanding.
South Korea’s 2/10-yield curve this week was briefly flatter than Japan’s curve, which has had a pancake shape for years.
South Korea’s housing market, one of the world’s hottest in 2018, has lost steam after the government tightened regulations.
As fears ease about housing debt, which was running at levels seen in the United States before the subprime crisis, the Bank of Korea has some room for maneuvre.
“I’m currently reviewing my forecast to bring forward the timing of a cut,” said Kong Dong-rak, a fixed income analyst at Daishin Securities. — Reuters

Filinvest income rises 31%

FILINVEST Development Corp. (FDC) grew its earnings by a third in 2018, driven by higher recurring revenues from its property unit and better energy sales from its power segment.
The Gotianun-led conglomerate said in a statement Wednesday that consolidated net income reached P13.4 billion in 2018, 31% higher year on year. This followed revenues of P73.3 billion, eight percent higher than the P67.6 billion it reported in 2017.
The property and banking segments accounted for the bulk of FDC’s revenues at 43% and 41%, respectively. Its power generation business provided 13%, while the sugar business contributed three percent.
“Our investments, not only in power but also in property and bank infrastructure, are now being reflected in our healthy year-end net income,” FDC Chairman Jonathan T. Gotianun was quoted as saying in a statement.
For the property business, Filinvest Land, Inc. (FLI) delivered a net income of P8.8 billion thanks to an increase in rental revenues. The listed property developer said its office and retail portfolio grew by 27% after leasing out an additional 124,000 square meters (sq.m.) of gross leasable area.
FDC, which controls the group’s hospitality assets, posted a 23% increase in revenues due to improved occupancy rates across all hotel properties and higher revenues from Mimosa Golf Clark. Mimosa Golf Clark is part of the 201-hectare Filinvest Mimosa+ Leisure City in Pampanga.
Meanwhile, EastWest Bank saw its net income drop 10.8% to P4.5 billion, weighed down by smaller lending margins. The company was also affected by temporary regulatory issues regarding teacher loans. Without this item, consumer portfolio of credit cards, auto, home and personal loans grew 16% year on year.
EastWest, however, noted that its return on equity stood at 11% in 2018, which it believes to be one of the highest in the industry.
The power business generated a net income of P2.1 billion for the year, as energy sales from FDC Misamis power plant went up 24% in the same period. FDC Utilities, Inc. has the largest operating baseload power plant in Mindanao with a capacity of 405 megawatts. The company has also recently partnered with multinational energy firm Engie, as they plan to establish a district cooling system with up to 12,000 tons refrigerant for FLI’s office complex in Alabang.
Aside from its core businesses, FDC is also involved in airport infrastructure. It is the lead consortium member for the Luzon International Premier Airport Development Corp., which will handle the 25-year development, operation, and maintenance of the new terminal of the Clark International Airport.
FDC has partnered with JG Summit Holdings, Inc., Changi Airports Philippines (I) Pte., Ltd. and Philippine Airport Ground Support Solutions, Inc. for the new Clark airport terminal.
The company is also part of the consortium of seven of the country’s top conglomerates to rehabilitate the Ninoy Aquino International Airport.
Shares in FDC slipped 0.13% or two centavos to close at P15.96 each at the stock exchange on Wednesday. — Arra B. Francia

7 ways to avoid trans fats in daily life

By Dinna Louise C. Dayao
THE DANES and the New Yorkers have it easy. The former won’t find foods with trans fatty acids on their grocery store shelves. That’s because Denmark banned the artery clogger in 2003. On the other hand, New Yorkers need not worry about trans fats when they eat out. A ban took the harmful fats off their dining plates in 2007.
Trans fatty acids, or trans fats for short, can be naturally occurring (in beef, pork, lamb, butter, and milk) which is not harmful in moderation, or artificial trans fats — made when hydrogen is added to vegetable oil in a process called “hydrogenation” turning liquid oil into solid form. The latter is the problematically trans fats since it has been found to clog arteries and lead to weight gain, among other less than salubrious effects.
While it is known that trans fats are harmful to one’s health, there is no ban on these fats in the Philippines. Still, one need not wait to make the shift to healthier eating. Here are seven steps one can take to avoid or lessen one’s consumption of these dangerous fats.
1. Choose healthier oils. In a nutshell, avoid the trans fats and replace hydrogenated or partially hydrogenated oils with oils rich in polyunsaturated fats. Soybean, canola (rapeseed), corn, safflower, and sunflower oils are polyunsaturated fats, said the World Health Organization.
The one issue some people may have with these oils is their cost. A cheaper alternative that some have chosen is coconut oil, which is also not a trans fat. It is a saturated fat that is commonly used for deep frying.
It is the only oil used in the canteen of the Sophia School in Meycauayan, Bulacan. Ann Regoso-Abacan, a registered nutritionist-dietitian, is the school principal. She uses coconut oil, and the least amount at that, to prepare dishes containing vegetables and vegemeat on Meatless Mondays. Monday’s offerings may include veggie burgers, veggie balls, and tokwa (tofu) fries.
On the other days of the week, the students will find meat, fish, and vegetable dishes and at least one vegetarian version of a dish — such as menudo, tocino, or fish sarciado — on the menu. All these dishes are pan-fried or sautéd in coconut oil.
Ms. Abacan said that she does not deep fry any food or use butter or solid fats in any dish. In this way, she succeeds in providing students food that is low in trans fats. She takes the effort to do so because she believes that “healthy kids become productive citizens.”
But then the question is is coconut oil good for you? At first blush, it would seem that coconut oil — a saturated fat — is bad for the heart. Too much saturated fat raises “bad” LDL cholesterol levels, which increases the risk of heart disease.
What is interesting about coconut oil is that it also gives “good” HDL cholesterol a boost, said Walter C. Willett, M.D., in the Harvard Health Letter. Dr. Willett — a professor of epidemiology and nutrition at Harvard T.H. Chan School of Public Health and a professor of medicine at Harvard Medical School — advises using coconut oil sparingly. “Coconut oil’s special HDL-boosting effect may make it ‘less bad’ than the high saturated fat content would indicate, but it’s still probably not the best choice among the many available oils to reduce the risk of heart disease,” he said.
2. Play trans fats detective. One does have to play diet detective to know if a food contains artificial trans fats. Start by looking at the ingredient list on the food label.
Here’s a rule of thumb from the US Food and Drug Administration: “If the ingredient list includes the words ‘shortening,’ ‘partially hydrogenated vegetable oil,’ or ‘hydrogenated vegetable oil,’ the food contains trans fat.”
What if the label clearly states “Trans Fat: 0 g”? That is no guarantee that the food is indeed free of trans fats, if you see any of the words above in the list of ingredients. Under the regulations of the US Food and Drug Administration (FDA), “if the serving contains less than 0.5 gram of trans fat, the content, when declared, shall be expressed as zero.”
And what if one can’t avoid foods containing artificial trans fats? Then choose products that list the “shortening,” “partially hydrogenated vegetable oil,” or “hydrogenated vegetable oil” near the end of the ingredient list. As required by the US FDA, food manufacturers list all the ingredients of their products on the food label. The ingredients at the top of list are present in the greatest amounts; those ingredients close to the end of the list are present in smaller amounts.
3. Cut out the 3-in-1 coffee. Many Filipinos have made this rich drink a part of their day. It’s easy to see why. What other drink gives you a shot of caffeine and a sweet treat in one sachet — and for less than P10 a pop? Just add hot water.
The bad news is that the nondairy creamer in 3-in-1 coffee is full of trans fats in the form of partially hydrogenated oil. This oil is usually pretty high up in the ingredient list.
Healthier options: Use low-fat or skim milk for your cup of java to make it creamy. Or make your own creamer.
Chef Vicky Rose Pacheco, executive chef and chief operating officer of the Chateau 1771 Group of Restaurants, used to add nondairy creamer to her coffee. After learning that nondairy creamer contains partially hydrogenated oil, she decided to make her own half-and-half by combining real milk and cream. “The real thing is healthier,” she said.
4. Go easy on the baked goods. Filipinos of all ages like crackers. They eat crackers to take the edge off their hunger pangs when stuck in traffic. Those with a bum stomach may nibble on a piece or two to soothe their stomachs. Some dieters will, misguidedly, eat nothing but crackers all day.
Here’s the rub, though: Crackers could contain .49 grams of trans fats per serving and still be labeled as “Trans Fat: 0 g.” Check the ingredient list — you will probably find vegetable shortening near the top of the list. So even you eat only a serving — say, three crackers — you may still get .49 grams of trans fat. But how many people can stop at three crackers?
Also, many Filipinos indulge their sweet tooth with cakes and cookies which could be packed with trans fats that keep them fresh longer.
Healthier options: If you bake, use healthier oils instead of partially hydrogenated oil or shortening. Ms. Pacheco makes pan de sal using olive oil instead of vegetable oil that is more commonly used in some pan de sal recipes. Ms. Abacan, on the other hand, uses coconut oil instead of vegetable oil in making chocolate cake.
Instead of snacking on baked goods or processed chips, eat dry-roasted peanuts try boiled peanuts, saba bananas, corn, or sweet potato, instead. Ot native delicacies such as palitaw, kutsinta, or guinataan (rice and coconut snacks).
Going to the movies? Stay away from movie theater popcorn. Chances are it’s loaded with trans fats. Instead, cook popcorn at home using a healthier oil then bring it to the movie theater. Or pack cut-up fruits or vegetables to munch on. Ms. Pacheco said her cousin brings sliced singkamas (jicama) or green mango to the movies.
5. Bring a brown bag. Four in every 10 Filipino adults ate lunch away from home in 2013, according to a study done by Dr. Josie P. Desnacido and her colleagues. Dr. Desnacido is a science research specialist at the Department of Science and Technology — Food Nutrition Research Institute.
So how is one to know that the food in that canteen or fastfood restaurant is free from trans fats? The food isn’t labeled. And these eateries are likely to cook with partially hydrogenated oil. It is, after all, the go-to frying oil for restaurants.
Healthier options: Prepare food at home, and choose healthier oils and methods. One can have fish paksiw (simmered in vinegar) or a soupy dish like sinigang (sour soup) or chicken tinola (chicken soup with green papaya and ginger). Boil some pasta, and use olive oil, garlic, and mushrooms as a tasty sauce. Or cook chicken or pork adobo (stewed in vinegar and soy sauce) using oils such as soybean, canola, and sunflower, which are free of trans fats.
6. Avoid deep fried foods. When eating out, have baked, grilled, boiled, or steamed dishes instead. At home, grill burgers, and bake — don’t fry — potato chips or wedges to make a side dish. Steam, boil, or roast vegetables, instead of frying them.
7. Train your toddler’s taste buds. How many children like the taste of food that is not deep fried, who consider steamed, boiled, or roasted dishes worthy of inclusion at their birthday party? Not many, if you consider that many Filipino kids can name the mascot of the leading fastfood chain even before they take their first step.
“Parents or guardians should introduce healthy food early to little children,” said Jemima David-Dacanay, RND, of the Center for Weight Intervention and Nutrition Services at St. Luke’s Medical Center — Global City. “Research shows that once you introduce strong tastes to kids, they will look for those tastes,” said Ms. Dacanay. The first three years of life are crucial in determining children’s future food preferences and eating patterns, said Nutrition Australia.
Training your toddler’s taste buds will take much effort and time. This is a challenge that Ms. Dacanay, who has a baby boy, will soon face. Still, she believes that starting him early on healthy food that is low in trans fats will pay off in the long run. Ms. Dacanay quoted Mahatma Gandhi, who said, “It is health that is real wealth and not pieces of gold and silver.”
This story was produced under the “(Un)Covering Trans Fats Media Training and Fellowship Program” by Probe Media Foundation Inc. (PMFI) and ImagineLaw (IL). The views and opinions expressed in this piece are not necessarily those of PMFI and IL.

Manila Water unit, Tubig Pilipinas bag Iloilo project


ILOILO CITY — Manila Water Philippine Ventures, Inc. (MWPV) and Tubig Pilipinas Group, Inc. (TPGI) have been granted a franchise by the local council to establish and operate a water distribution system in parts of Iloilo City.
Councilor Plaridel C. Nava II, chair of the committee on public utilities and among eight that voted in favor of the ordinance, said the non-exclusive franchise valid for 25 years applies to MWPV and TPGI or their designated joint venture company.
MWPV, a wholly owned subsidiary of the Ayala group’s Manila Water Company, Inc., already has a partnership with TPGI for a project in Malasiqui, Pangasinan.
MWPV-TPGI tandem is the third to secure a franchise from the city council after South Balibago Resources, Inc. (SBRI), and the Villar group’s Prime Water Infrastructure Corp.
Mr. Nava said the MWPV-TPGI partnership is expected to prioritize coverage of the Mandurriao district.
“It appears that Manila Water applied for a franchise way ahead of the application of Prime Water whose water franchise has been approved a few months ago. That being so, there is no reason to deny the application of Manila Water when this committee and the same sanggunian (council) have granted the franchise of Prime Water, given the similarity of its application,” Mr. Nava said.
In his committee report, Mr. Nava noted that MWPV presented its proposal on Nov. 15, 2017.
“Majority of the people of Iloilo City have expressed their dissatisfaction with the current water system due to poor quality of service, recurrent water shortages, and a significant percentage of unserved areas in Iloilo City, hence the people have instead resorted to the alternative water rationing system,” the ordinance granting the franchise stated.
Councilor Eduardo L. Peñaredondo also said that the city’s main water distributor, Metro Iloilo Water District (MIWD), has failed to cope with Iloilo’s growth.
“MIWD has miserably failed to perform its duties and franchise and authority that has been given to them to deliver water to its inhabitants… We have to do our duty as representatives of the people in order to promote progress to our people,” Mr. Peñaredondo said.
On the other hand, Councilor Ely A. Estante, who was among the five council members who abstained from the vote, said he first wants a clarification on whether the council has the power to grant such franchise.
“Although there is lack of supply of water but at the same it is ultra vires or it is beyond the power of the SP (Sangguniang Panlungsod) to grant a franchise,” he said.
MIWD has filed cases in court against the Iloilo City government and SBRI, and has said that it is preparing to do the same against Prime Water.
Amarylis Josephine C. Castro, MIWD Finance Department manager and chairperson of Bulk Water Supply Project Management Team, reiterated their position that the city government has no authority to grant a franchise.
“We maintain the same stand when they granted the franchise to Prime Water. Our stand remains that the authority to grant franchise is on the National Water Resources Board (NWRB) and not the city government,” she told BusinessWorld.
Ms. Castro added that they are open to competition provided that the correct legal procedures are observed.
“Water is not an exclusive thing. We are not questioning the exclusivity because water is a basic need. It is not the competition per se, in fact we welcome it, but it should be done in the legal process,” she said.
For his part, TPGI President and CEO, Ryan Yapkianwee said in a statement that the company and Manila Water are “looking forward to service the people of Metro Iloilo by offering a safe and stable water supply system that can respond to their daily needs.”
A unit of Pure Energy Holdings Corporation, TPGI is currently operating in cities and towns in Pangasinan, Isabela, Cavite, and Negros. — Emme Rose Santiagudo

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