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‘Crashworthy’ vehicles of 2018

Since 2006, the Insurance Institute for Highway Safety (IIHS), a US-based nonprofit scientific and educational organization dedicated to reducing deaths, injuries and property damage from motor vehicle crashes, has been testing an array of vehicles every year in order to establish their crashworthiness, the ability to protect occupants during an impact. It also assesses the vehicles’ front crash prevention systems, which warn the driver or apply brakes automatically to mitigate or avoid a frontal collision, as well as their headlights.

“To determine crashworthiness, we rate vehicles good, acceptable, marginal or poor, based on performance in six tests: driver-side small overlap front, passenger-side small overlap front, moderate overlap front, side, roof strength and head restraints,” IIHS explains on its Web site.

“In the area of crash avoidance and mitigation, vehicles with available front crash prevention systems are rated basic, advanced or superior, based on the type of system and performance in track tests. We also test headlights and rate them good, acceptable, marginal or poor.”

A “Top Safety Pick” is awarded to vehicles that earn good ratings in the driver-side small overlap front, moderate overlap front, side, roof strength and head restraint tests and an advanced or superior rating for front crash prevention and an acceptable or good headlight rating.

Earning the “Top Safety Pick+” recognition involves getting good ratings in the driver-side small overlap front, moderate overlap front, side, roof strength and head restraint tests, as well as an acceptable or good rating in the passenger-side small overlap front test. A vehicle must also have an advanced or superior rating for front crash prevention and a good headlight rating to qualify for this award.

“Models that earn Top Safety Pick+ or Top Safety Pick are the best vehicle choices for safety within size categories. Size and weight influence occupant protection in serious crashes. Larger, heavier vehicles generally afford more protection than smaller, lighter ones. Thus, a small car that’s a Top Safety Pick+ or Top Safety Pick doesn’t necessarily afford more protection than a bigger car that doesn’t earn the award,” IIHS says.

For 2018, the following vehicles have received either the Top Safety Pick+ (TSP+) or Top Safety Pick (TSP) awards from IIHS:

In the minicars category: 2019 Hyundai Accent (TSP), 2018 Kia Rio (TSP+), 2019 Mini Cooper (TSP).

In the small cars category: 2018 Chevrolet Bolt (TSP), 2019 Honda Insight (TSP+), 2018 Hyundai Elantra (TSP+), 2018 Hyundai Elantra GT (TSP), 2018 Hyundai Ioniq Hybrid (TSP), 2018 Kia Forte (TSP+), 2018 Kia Niro Hybrid (TSP+), 2018 Kia Soul (TSP+), 2018 Mazda 3 (TSP), 2018 Nissan Kicks (TSP), 2018-19 Nissan Sentra (TSP), 2018 Subaru Crosstrek (TSP+), 2018 Subaru Impreza (TSP+), 2018 Subaru WRX (TSP+), 2018-19 Toyota Corolla (TSP), 2018 Toyota Prius (TSP), 2018 Toyota Prius Prime (TSP).

In the midsize cars category: 2018 Honda Accord (TSP), 2018 Hyundai Sonata (TSP+), 2018-19 Kia Optima (TSP+), 2018 Mazda 6 (TSP), 2018 Nissan Altima (TSP), 2018 Nissan Maxima (TSP), 2018 Subaru Legacy (TSP+), 2018 Subaru Outback (TSP+), 2018 Toyota Camry (TSP+).

In the midsize luxury cars category: 2018 Alfa Romeo Giulia (TSP), 2018 Audi A3 (TSP), 2018 Audi A4 (TSP), 2018 BMW 2 Series (TSP), 2018 BMW 3 Series (TSP), 2018 Lexus ES 350 (TSP), 2018 Lexus IS (TSP), 2018 Volvo S60 (TSP), 2018 Volvo V60 (TSP).

In the large cars category: 2018 Kia Cadenza (TSP), 2019 Toyota Avalon (TSP+), 2018 Toyota Avalon (TSP).

In the large luxury cars category: 2018-19 Acura RLX (TSP), 2018 BMW 5 Series (TSP+), 2018 Genesis G80 (TSP+), 2018 Genesis G90 (TSP+), 2018 Lexus RC (TSP+), 2018 Lincoln Continental (TSP+), 2018 Mercedes-Benz E-Class (TSP+), 2018 Volvo S90 (TSP).

In the small sport utility vehicles (SUVs) category: 2018 BMW X2 (TSP), 2018 Honda CR-V (TSP), 2018 Hyundai Kona (TSP+), 2018 Hyundai Tucson (TSP), 2018 Kia Sportage (TSP), 2018 Mazda CX-3 (TSP), 2018 Mazda CX-5 (TSP+), 2018 Mitsubishi Outlander (TSP), 2018 Nissan Rogue (TSP), 2018 Subaru Forester (TSP), 2018 Toyota RAV4 (TSP).

In the small midsize SUVs category: 2019 Honda Pilot (TSP+), 2018 Honda Pilot (TSP), 2018-19 Hyundai Santa Fe (TSP+), 2018 Hyundai Santa Fe Sport (TSP+), 2019 Kia Sorento (TSP+), 2018 Kia Sorento (TSP), 2018 Mazda CX-9 (TSP), 2019 Subaru Ascent (TSP+), 2018 Toyota Highlander (TSP).

In the midsize luxury SUVs category: 2018-19 Acura MDX (TSP), 2019 Acura RDX (TSP+), 2018 Acura RDX (TSP), 2018 BMW X3 (TSP+), 2018 Buick Envision (TSP), 2018 Lexus NX (TSP), 2018 Lexus RX (TSP), 2018 Mercedes-Benz GLC (TSP+), 2018 Mercedes-Benz GLE-Class (TSP+), 2018 Volvo XC60 (TSP), 2019 Volvo XC90 (TSP).

In the minivans category: 2018 Chrysler Pacifica (TSP), 2018 Honda Odyssey (TSP), 2018 Kia Sedona (TSP).

In the large pickups category: 2018-19 Honda Ridgeline (TSP).

PHL banks on solid ground — S&P

By Melissa Luz T. Lopez
Senior Reporter
PHILIPPINE BANKS will remain stable despite a weakening peso and global market volatility, S&P Global Ratings said, even as it noted that economic growth will be slower than initially expected over the next two years.
S&P said most Southeast Asian markets are unlikely to be hit hard by rising global economic risks, as reflected by volatile stock markets, skittish bond markets and depreciating currencies.
In this environment, S&P said it sees local banks on good fiscal footing even if peso has lately fared worse against the dollar than its Southeast Asian peers.
“Concerning currency volatility, the Philippines is an exception and has seen the peso steadily devalue due to a ramp-up of imports for the government’s ambitious infrastructure plans. This has a limited impact on the country’s banking system, which is heavily domestic focused and has a limited foreign exchange position,” S&P said in a report on Thursday.
The peso has depreciated by over eight percent year-to-date and even touched fresh 12-year lows over the past month as it traded above P54 to $1.
However, S&P said that peso depreciation is driven by a widening current account deficit rather than external factors. The current account posted a $3.1-billion deficit as of end-June, coming from a $133-million gap in 2017’s first half, already matching the full-year estimate as imports continued to grow by double-digit pace while exports remain slumped year-on-year. The gap is equivalent to 0.9% of gross domestic product.
The Philippines had been posting current account surpluses until a reversal in 2017, although authorities said the heavy importations were in support of increased domestic economic activity.
“For bank ratings across the region, we currently see no immediate effect from market volatility impacting currencies, equities, or other market risks, or from transmission effects on liquidity stemming from corporate or other sectors,” the debt watcher said, even as they noted that domestic events also have a bearing on industry trends.
In May, S&P gave a “stable” outlook for economic and industry risks for Philippine banks and cited “improved credit fundamentals.”
In the same report, S&P also tempered its Philippine growth forecast to 6.5% this year and 6.6% in 2019, from 6.7% and 6.8%, respectively, back in August.
This mirrors downgrades from the World Bank and the International Monetary Fund earlier this month, while the Asian Development Bank pencilled in a lower forecast of 6.4% for 2018.
On Tuesday, economic managers cut their GDP growth forecasts to 6.5-6.9% this year, after last semester disappointed with a 6.3% expansion against 6.6% in 2017’s first half.

The Ambassador and his books

By Nickky Faustine P. de Guzman, Reporter

The Czech Ambassador to the Philippines Jaroslav Olša, Jr. will be leaving his post in December, but he will leave behind an indelible legacy: Books.
Over the four years that Mr. Olša has been in the country, he has worked on the promotion of literary and cultural ties between the Czech Republic and the Philippines by publishing books written and translated into Czech, Tagalog, English, Bicolano, Waray, and Minasbate.
He believes that 21st century communication strategies between two nations heavily involve “people-to-people branding and PR. It’s about thinking of the most interesting way to show that your country is interesting, beautiful, and will encourage people to learn more about it. I think this applies mostly to faraway countries, those on the other side of the world.”
And the Philippines and the Czech Republic are two best examples because they are poles apart, share their differences, but also have their similarities as well. Books are one of the ways to showcase what each country has to offer.
“I am involved in various projects — films and other art fields — but literature is probably the least used opportunity to show your country. The reason for that are many. For one, it’s [more] difficult to publish books than it is to mount exhibitions and concerts. But on the other side, books have long-term impacts. Books remain in the shops, libraries, and homes and then you read them later, and the impacts are long term,” he told BusinessWorld.
The soft powers manifested in literature and culture are “really one of the best ways in supporting our business relations for the both sides (Czech and Philippines).”
OF KAFKA, POETRY, AND SCIENCE FICTION
Before coming to the Philippines, Mr. Olša was Ambassador in Zimbabwe and South Korea where he also published books that aimed to bridge the gaps between his country and the nation where he was assigned.
“The idea came into my mind when I was in Africa — in Zimbabwe — and we were given the opportunity to print three booklets. I had bigger chances when we produced Czech books in the Korean language. So when I arrived here, I started talking to the Komisyon ng Wikang Filipino (KWF) and to National Artist Virgilo Almario.”
He said joint promotions are “important, not only in promoting about my literature and culture but helping to promote Philippine literature in the Czech Republic as well.”
Among the first projects he worked on with KWF was the translation of Franz Kafka’s Die Verwandlung (The Metamorphosis), which was first published in 1915. Ang Metamorposis was translated not only into Tagalog but into Bicolano. While Kafka was German, he lived in Prague — Czech’s capital — “and the book is a quintessential reading,” said the ambassador.
The Czech Republic and KWF collaboration also included the translation of the poetry of Nobel Prize-winning Czech writer Jaroslav Seifert. The resulting 300-page book, Sa Prága: Mga Piling Tula ni Jaroslav Seifert, included the best samples of his works in a career that spanned more than 60 years.
Whenever there are big literary events and festivals in the country — like the Manila International Book Fair — Mr. Olša brings in well-known Czech writers so the audience get to know them. The Embassy has flown in Ondrej Neff, Julie Novkov, and Martin Vopenka who gave away English translations of their books.
Printed by Visprint, the Embassy has also translated the popular anthology The Witcher, and other Fantasy and Science Fiction from Central Europe and the Philippines into Ang Manggagaway at iba pang Kathang-Agham at Pantasya mula sa Gitnang Europa at Pilipinas. Mr. Olša, Hungarian Ambassador József Bencze, and Filipino speculative fiction writer Dean Francis Alfri co-edited the book, and Filipino popular writers Bob Ong, Eros Atalia, Beverly Siy, and Joselito Delos Reyes translated the collection into Filipino.
THE EDITOR IN HIM
Amongst the many published Czech literary gems, how does the Ambassador sift through them and choose which works to translate and publish? He said his love for the written words helps him curate.
“Plenty of people have asked my how I do it. I am an avid reader and I have read for dozens of years because I was involved in publishing and translating before, and I know many of the writers personally. That means I personally select from what I’ve read or have met the writers. But sometimes, of course, I need advisors because being abroad means you do not know so much of the Czech writers today. I am still in contact with various book publishers and writers, and I’ll tell them ‘Oh I need a story about this’ and they will send [them to] me. It has no structured logic in it, but I try to select the best, of course.”
Mr. Olša used to own a small publishing house in the Czech Republic 25 years ago. “It was short lived, but we published almost 100 titles when I was there. So this a familiar thing to me [because I have a background].” He was also the editor of Czech Republic’s science fiction magazine called Ikarie and was a former science fiction translator. The man knows his stuff.
“I am an avid reader. It’s not only about a specific genre (science fiction), it’s one of the things I know, but it’s not the only thing I read. But I typically ready short stories [rather] than novels. There’s a trend that people read series that grow bigger and bigger, but on the contrary, I like the short stories because this is where the craft of the writer is — he needs to know how to engage the reader, how to capture their interest. The reader can say if you like it or not.”
FINAL PROJECTS
I met with the Ambassador at his office in Makati on Oct. 9, where I was greeted by his books and his personal belongings that he’s been readying to pack for his trip in December. But as he prepare to leave his post, he still has many projects in the pipeline. This includes a travelogue by BusinessWorld contributor Jessica Zafra, which will be launched on Oct. 27, 2 p.m., at Fully Booked BGC.
“I said, okay, let’s do the travelogue — but let’s make it different. Let’s make it more oriented to Central Europe. With my Hungarian and Polish colleagues, Jessica Zafra travelled to Poland where she has never been… and to Czech, Hungary, and Paris and Italy… It’s a very good attempt to show to the Filipinos the part of Europe which is more and more visited but still not as widely known as France or Italy or Spain,” said Mr. Olša.
Another one of his projects is Chicks in a Snake Cage, which is an anthology of 40 Filipino writers including the works of Leoncio P. Deriada, an award-winning writer credited to be the Father of Contemporary Literature in Western Visayas. Unfortunately, he will no longer be stationed in Manila when it is launched some time in 2019.
Mr. Deriada was one of the first Filipino authors that the ambassador had known about and read. Apparently, before becoming the Czech Ambassador to the Philippines, Mr. Olša had already been frequenting the country in the 1990s. He first set foot in Manila in 1994 for work — he showed me an identification card that he has kept from when he visited Manila back then as an advisor to the first deputy minister of the Czech Republic.
“When I came for the first time, I took the cab going to Intramuros and looked to my guide book and found that the best book shop in town was Solidaridad… I remember walking from Intramuros, past the National Museum, and bought books that I still have now. I bought Leoncio Deriada’s short story collection, science fiction by Jose Ma. Espino who is a forgotten writer who passed away years back. I bought a directory of Filipino writers, and books on the history of Philippine literature. And also I think I bought a Greg Brillantes book. Maybe there are some more but I couldn’t remember. Whenever I was coming back during the ’90s, I bought more and more books, which meant I had a good idea on what the Philippines’ culture and literature. It became easier to me when I was given the post as the Ambassador.”
COMMON ROOTS
He said there’s not much difference between the culture and literatures of our two countries, unlike, for example, when he was still in South Korea where he said he had to adjust to the culture.
“We share the common roots of civilization. You’re connected by 300 years of Spanish rule. You’re Catholic Christian and so are we.” He also said there’s an “easy access to the mood of the writer” whenever he reads Filipino authors.
“Sometimes when you read Chinese or Indian literature, you can see the differences right away — the civilization, the beliefs, the experiences of the writer. But in the Philippines, we do understand each other without much explanation. For example, when I read Korean literature — I spent six years in Korea — sometimes I don’t know because i don’t have the deep knowledge of the Korean history. With the Filipinos, I think I don’t have any difficulties. You name it, and you’ll find our closeness, our thinking, in many ways.”
The Ambassador has high hopes for the future of print. He said: “Twenty years ago everybody said there will be no books, look, and there are still books. The touch of the book is still a touch of a book. Yes, it’s helpful to have book in your computer, but you really need the physical. Part of book publishing will go online but there will still be full-fledged book publishing as well. It’s an art. For example, you can have art projection on the wall, but still people want to have a print copy, it’s the same with books.”
Mr. Olša might be leaving in less than two months, but he will be leaving a legacy that keeps on giving.
“We are still finishing some projects, which will be my legacy. You cannot finish all the projects, there are projects that need longer time,” he said.
He is working on the translation of the letters of two Czech Jesuit priests who were in the Visayas in the 18th century. “It’s going to be a long project,” he said. It will include 10 unpublished letters written in the 1730s until 1740s. “The letters were never published, nobody saw them in English, which means that for the Filipinos it will be something important.”
The project will definitely be published after Mr. Olša has physically left the country, but he and his book projects will forever remain on our bookshelves.

LTFRB OK’s bus, jeepney fare hikes

THE LAND TRANSPORTATION Franchising and Regulatory Board (LTFRB) on Thursday approved fare increases for public utility vehicles (PUV), prompting the country’s biggest labor group to press for a wage hike for Metro Manila’s private sector workers at a time of successive multiyear-high monthly inflation rates.
In its decision, the LTFRB adjusted the minimum jeepney fare in the National Capital Region (NCR or Metro Manila), Central Luzon and southern Luzon to P10 from the current P9, which had incorporated a P1 provisional increase implemented in July.
In a separate decision, the regulator also approved provisional increases for buses plying Metro Manila roads to P11 from P10 for ordinary trips and to P13 from P12 for air-conditioned trips.
For provincial buses, the base rate for ordinary trips stays at P9 for the first five kilometers (km), although the addition for every succeeding kilometer increases to P1.55 from P1.40 previously.
For air-conditioned provincial buses, the adjusted rates are P1.75/km from P1.60/km for regular buses, P1.85/km from P1.70/km for deluxe buses, P1.95/km from P1.80/km for super deluxe buses, and P2.40/km from P2.25/km for luxury action buses.
The new fares take effect early next month.
The LTFRB said it approved the fare hikes amid the peso’s weakness and rising oil prices.
The regulator added that it took into consideration the opinion of the National Economic and Development Authority, which in an Oct. 2 report cautioned that “any increase in the fare of PUVs will certainly… raise the current inflation rate in the country” that has lately been clocking multi-year peaks to average five percent last semester against the central bank’s 2-4% target range for 2018.
At the same time, “[a]ny fare increase will translate to diminish that of the purchasing power of workers, especially the working population who principally rely on public transportation.”
In a statement on Thursday, Associated Labor Unions-Trade Union Congress of the Philippines spokesman Alan A. Tanjusay said “[t]here is now a very urgent need for the Metro Manila wage board” which will meet on Oct. 22 “to grant a substantial wage increase for workers in the NCR…” — Denise A. Valdez with G. M. Cortez

Government, business exchange notes on dev’t imperatives

By Victor V. Saulon
Sub-Editor
THE GOVERNMENT on Thursday renewed its call on private businesses to deepen their participation in infrastructure and technology projects.
The call to the private sector was made during the 44th Philippine Business Conference & Expo at the Manila Hotel, the annual gathering hosted by the Philippine Chamber of Commerce and Industry (PCCI) during which it lists issues that it wants the government to resolve.
“We are falling behind our ASEAN (Association of Southeast Asian Nations) neighbors, and you know that — Malaysia, Thailand, Indonesia and Vietnam. Cambodia and Laos and Myanmar are fast catching up because they are coming from a low base,” Socioeconomic Planning Secretary Ernesto M. Pernia told conference participants.
The conference, which focused on infrastructure and the digital economy, highlighted these “game changers” that the country needs to develop further to catch up with its regional neighbors.
Mr. Pernia said the government is aware of the poor state of roads, airports, railways and bridges and although some have improved, much remain to be done. He said infrastructure is key to economic growth.
“Filipinos need efficient, safe and reliable modes of transportation, adequate and affordable electricity and water supply, sufficient social infrastructures like hospitals and schools, and efficient telco services, among others, to be productive,” he said.
“With a growing economy, the Philippines needs more and better infrastructure supply given our country’s archipelagic landscape, expanding population, rapid urbanization and other developments.”
Mr. Pernia said infrastructure development is a vital requirement in sustaining inclusive growth and addressing inequality and poverty in the country. He said the private sector plays an indispensable role in the government’s goal.
Senate President Vicente C. Sotto III, the event’s keynote speaker, issued a similar call. “Government looks to all of you to contribute what you must so we can make up for lost time and lost opportunities,” he said.
In an interview, Francis Jose A. Alejandro, PCCI’s director for energy and power, said the government’s call was exactly what the private sector had been doing and that it was what businesses wanted: more participation in infrastructure projects.
“When the business people talk, it’s very simple and the process is shorter and faster compared to the government processes. Unfortunately, the government could not get out of that kind of process,” he said.
“If we are catching up with time, even before, PCCI has always been after that PPP program — public-private partnership participation,” he said.
“Time costs more money. Every time we drag any project, it becomes more expensive. Even if we make a slight error, it’s still cheaper in the end.”
On Thursday, the conference listed a new set of resolutions, which members of the PCCI approved after collating inputs from its various committees as well as the outcome of regional conferences this year.
The conference’s chairman this year, Ramon S. Ang, forwarded the list to President Rodrigo R. Duterte, calling the resolutions “some of the problems facing our country today and how PCCI can help address them.”
“The peso is weakening because of factors at home and abroad. A stronger US economy is drawing capital away from emerging markets like the Philippines. The gap between our imports and exports has widened. Even our BPO (business process outsourcing) and our OFW (overseas Filipino workers) remittances are not growing as fast as before,” he said.
Mr. Ang, who is also president and chief operating officer of conglomerate San Miguel Corp., said to help address the trade deficit, “we should import less luxury goods, which are unnecessary.”
“We should strengthen our export sector. We urge government to rethink any moves that would make our exporters less competitive.”
For the BPO sector, he said the country should start developing higher value services to offset the impact of artificial intelligence on traditional services.
“Our inflation rate is increasing due to high oil prices: from $50 per barrel last year, to $80 per barrel today. This has resulted in higher prices of food, which have increased by 10%,” he said.
“Natural calamities, the depreciating peso and many other factors have also not helped to keep costs stable.”
Aside from its position on issues like the shortage of cheap rice, its support for the government’s rethinking of the next round of fuel tax increases and farmers’ dwindling output, PCCI also addressed the government’s call for private sector involvement in infrastructure projects.
“Traffic is costing us losses of up to P3.5 billion a day or P1.2 trillion a year, and wasting millions of man-hours,” Mr. Ang said.
“When Skyway Stage 3 is completed, EDSA will be decongested by at least 40%. Government needs to work on resolving right-of-way issues. We need to connect Buendia to Macapagal, Qurino to Roxas Blvd. Right-of-way issues are slowing down the construction process.”
Mr. Ang said the private sector and the government need to study the Pasig river realignment.
“At EDSA-Rockwell flyover, we should build an elevated road that will allow you to pass through Boni Ave., Shaw Blvd., and go straight to Santolan in Quezon City. This will decongest traffic further,” he said.
“There are other transport solutions that should be implemented. We propose more elevated highways, and other mass transit systems.”
Mr. Ang also estimated the cost of airport runway congestion at more than P3 billion a day in terms of operation costs and productivity losses.
“We must build a new international airport with four parallel runways within an hour’s drive of major cities within Metro Manila, and connected by mass transit and major toll roads spanning north to south and east to west,” he said.
He said seaport congestion is also costing the country billions of pesos a day, pushing higher the cost of doing business.
“We need to build a major seaport outside Metro Manila,” he said.
“On average, we are losing P3-4 billion per year to traffic, airport and seaport congestion. If we can solve this, our cost of doing business will improve tremendously. This is what foreign investors are looking for,” Mr. Ang said.
PCCI also touched on the issue of flooding caused by rapid industrialization, garbage dumping in canals, creeks, esteros, ponds, rivers and other major waterways.
Mr. Ang said the government should first make sure that local government units are stricter in enforcing ordinances against garbage dumping and build a 15-meter diameter spillway from Laguna Bay to Manila Bay.
“These would provide a permanent solution to flooding in Metro Manila,” he said.
“Today, if we are to build a spillway it would cost $2 billion or roughly P11 billion. This will take two to three years to build.”
Mr. Ang said PCCI would help the government solve the problems he enumerated to ease the burden on Filipinos.

Going back to Prague

By Jessica Zafra
(An excerpt from Jessica Zafra’s new book, Twisted Travels: Rambles in Central Europe.)

IT TOOK me 15 years to return to Prague, half of the lifetimes of the people I was working with. We were in the Czech Republic for eight days to film a documentary. After three nights in Prague, the film crew and I would proceed to Litomerice, Mlada Boleslav, Olomouc, Brno, Cesky Krumlov, and Ceske Budejovice. The itinerary was designed by the Czech Embassy in Manila, particularly Ambassador Jaroslav Olša, who is translating Filipino stories into Czech, including one of mine, and sponsored by the Seoul-based Czech Tourism. I mention these parties because you know what they say about the best-laid plans. It’s the unexpected, unintended developments I look forward to: I travel for the stories, the weirder, the better.
We arrived in Prague in the early afternoon and were fetched by our tour guide Zoran, who announced that taxi drivers were on strike against Uber, there were violent clashes in the city, and massive traffic jams. This is perhaps not the welcoming one wants at the beginning of a packed tour, but it set a bleaky comic tone for the whole trip. There was some discussion in the team as to who our guide looked like. He resembled:

a. the original host of The Crystal Maze

b. one of the War Boys from Mad Max Fury Road

c. the vocalist of the ’80s group Right Said Fred of “I’m Too Sexy” fame

d. Professor Charles Xavier of the X-Men

e. Captain Jean-Luc Picard of the USS Enterprise

Zoran introduced himself as a Yugoslav. Apart from being a knowledgeable tour guide specializing in history, he is a photographer and an actor. According to his IMDB page he was in the Tom Hardy film Child 44, where in a bit of typecasting he played “Bald Man.” Unfortunately he could not be on camera because we had not made arrangements with his agent.
He was joined by our driver, Frantisek, a very tall man with wild, curly locks and a feral look. He has four jobs, he informed us later, as he snacked on enough cake to stop the heart of a shorter man: tour van driver, real estate agent, motorcycle mechanic, and motorcycle racer. Later, we agreed that we were being guided around the Czech Republic by Professor Xavier and Logan the Wolverine.
According to the schedule we would drop off our bags at the hotel and proceed to The Castle to start filming. As we had been travelling for 18 hours, this was not going to happen. At this point we learned that the definition of “driver” was different from what we were used to. Frantisek would pick us up from the hotel in the morning and drive us back at night. In between we would walk, schlepping all our equipment up and down the vertical city. I don’t carry equipment other than my journal, but my knee began to stiffen.
The hotel was a rather basic affair called Henrietta, but it was clean and the Wi-Fi worked. After a shower and a brief lie-down, I joined the team in the lobby and we took the tram to the city center.
It was exactly as I remembered it, beautiful and somehow melancholy. Prague is a great city to be depressed in: so much indifferent splendor to taunt your neuroses. It worked for Kafka. Zoran pointed out examples of different architectural styles and markers of how high the water rose during the Great Flood of 2002. On one hand we Filipinos are the last people to be impressed by floods; on the other hand, it might be a good idea to remind people of how high the water rose, because even if they happen frequently we cannot be blase about the danger.
At a stall on the riverbank we had the first of many, many, many sausages. A steady drizzle was falling. We walked past the opera, where my sister and I had seen La Boheme up in the bleachers and nearly frozen our asses off. Dinner was over-seasoned goulash at charming old restaurant called Flavia. We drank absinthe, agreed on the next day’s itinerary, and heard the first of Zoran’s disquisitions on how all our plans could fall apart.
Finally, he took us to the tram stop, told us the name of our stop, and said we could buy our tickets from a machine inside the tram. There was no such ticketing machine inside the tram. Thus we spent our first night in Prague breaking the law.
Jessica Zafra’s Twisted Travels: Rambles in Central Europe will be launched on Saturday, Oct. 27, 2-5 p.m. at Fully Booked in Bonifacio High Street, BGC. Twisted Travels will be available at Fully Booked, Shopee.ph, Lazada.com.ph, National Bookstore, and Powerbooks.

PHL signs oil exploration deal with Israel’s Ratio Petroleum

THE Philippines on Wednesday formally awarded a petroleum service contract (PSC) to Israeli firm Ratio Petroleum Ltd. for the exploration of an area in the east Palawan basin, a move which the Energy department said bodes well for country’s upstream petroleum industry.
The ceremonial signing, which took place at the Heroes Hall of Malacañan Palace, was led by President Rodrigo R. Duterte and Energy Secretary Alfonso G. Cusi on behalf of the Philippines, and Itay Raphael Tabibzada, president and chief executive officer of Ratio Petroleum.
Mr. Cusi said the awarding of the service contract also boosts the economic relations between the Philippines and Israel. The PSC for Area 4 in the Palawan basin is part of the DoE’s fifth Philippine Energy Contracting Round (PECR), which was launched in May 2014.
“The President has been very clear — our country needs to attain energy security and sustainability at the soonest possible time. We are currently experiencing how our dependence on importation has left us at the mercy of price movements in the global oil markets. We need to boost the exploration and development of our own energy resources and the awarding of the petroleum service contract to Ratio Petroleum is a step in the right direction,” he said.
The PECR was established as a transparent and competitive system of awarding service or operating contracts for prospective petroleum or coal areas within the country.
The DoE said Ratio Petroleum would now be able to explore Area 4, covering 416,000 hectares across the east Palawan basin for potential oil and gas resources.
The exploration project is expected to cost $34.35 million, which will be used for studies, data gathering and drilling activities over the initial seven-year contract period.
The DoE said Ratio Petroleum was established in 1992 and has a number of large-scale operations at the Levant basin in the eastern Mediterranean Sea, off the coast of Israel, as well as offshore operations in the Republic of Malta and the Co-operative Republic of Guyana.
“This is the first petroleum service contract signed under the Duterte administration. In fact, the last service contract awarded was with PXP Energy Corp. This was almost five years ago in 2013,” Mr. Cusi said.
PXP Energy is the operator of PSC No. 75 in north western Palawan under the fourth PECR. The service contract was signed on Dec. 27, 2013. — Victor V. Saulon

Petron planning new refinery in Bataan

By Janina S. Lim, Reporter
PETRON CORP. is planning to add a new petroleum refinery in Bataan that will boost its capacity by 100,000 barrels daily.
“We are set to recommend to the board of Petron to build a new refinery of 100,000 barrels a day,” Ramon S. Ang, Petron chief executive officer and president, told reporters at the sidelines of the 44th Philippine Business Conference and Expo at the Manila Hotel on Thursday.
“Once the board approves we can start negotiating with the vendor and so maybe we can start building by next year,” he added, noting that construction of the facility may take three to four years to complete.
Mr. Ang said the company will shell out an initial $3 billion for the additional refinery that will produce high-grade or Euro 6 petrochemical, diesel and gasoline.
Asked if this is part of the plant’s planned expansion, Mr. Ang responded in the negative, saying this is a “grand new plan.”
Last year, Petron unveiled an expansion project that would boost its current capacity to 270,000 by 2019 from the current 180,000 barrels daily.
Of the new plan, Mr. Ang said this “will address the gasoline and diesel and jet fuel requirement of our country.”
Meanwhile, Mr. Ang said the company can sell diesel at a cheaper price than the diesel that the government plans to import from Singapore.
This was in reaction to the Philippine National Oil Co.-Exploration Corp.’s announcement of its plan to import an initial 50,000 metric tons of diesel from Singapore within the month.
“Sabi ko, di na sila kailangan mag-import kasi habol lang nila tax-free, excise tax-free, VAT-free. Eh di bumili nalang sila sa Petron. Mas mababa pa ang presyo kaysa bumili sila sa Singapore kasi wala na silang babayaran na freight (I told them they don’t need to import because they only want to get it tax-free, the excise tax-free, VAT-free. They should buy from Petron. The price would be cheaper than if they buy from Singapore since they won’t have to pay for freight),” Mr. Ang said.
He noted that Petron’s prices would be cheaper without the 12% VAT.
“Kung sila mag-import, di ko alam pano nila idi-distribute. I think kailangan nila pag-aralan mabuti bago sila magplano (If they will import, I don’t know how they will distribute. I think they need to study better before they plan this),” Mr. Ang said.
Shares in Petron climbed 1.55% or 13 centavos to finish at P8.50 apiece on Thursday.

SMHC to pay for right-of-way acquisition, permits for airport

SAN MIGUEL Holdings Corp. (SMHC) has committed to shouldering the costs for right-of-way acquisition and local government permits for its proposed New Manila International Airport in Bulacan in order to secure the go signal from the Department of Transportation (DoTr).
San Miguel Corp. (SMC) President Ramon S. Ang said SMHC volunteered to pay for these expenses just to reach an agreement with the government.
“Sabi ko, halimbawa sagutin na namin lahat ito, sagot na namin yung pagbabayad ng right-of-way, sagot na rin namin yung local government, in short sagot na namin lahat… para wala na tayong pag-aawayan. Dun nagtatapos yung usapan na five hours na yan [I said, if for example we shoulder everything, we shoulder the costs for right-of-way, we shoulder the costs with the local government, in short we shoulder everything… so we would end this argument. That’s how the five-hour meeting ended],” Mr. Ang said during the 44th Philippine Business Conference and Expo at the Manila Hotel on Thursday.
SMHC submitted to the government an unsolicited proposal for the P735-billion New Manila International Airport, which would involve the construction, operation and maintenance of a 2,500-hectare alternative gateway in Bulacan with an annual capacity of 100 million passengers.
Transportation Secretary Arthur P. Tugade said the DoTr is set to issue a Certificate of Successful Negotiation for the Bulacan airport project.
He said their target is to get the approval from the National Economic and Development Authority (NEDA) and complete the Swiss challenge before the year ends.
“(Next week), mag-iissue ako ng Certificate of Successful Negotiation. Then on that basis pupunta na sa NEDA. Hahabulin ko pa rin yung deadline ko [I will issue the Certificate of Successful Negotiation next week. Then on that basis, it will go to the NEDA. I will try to follow my deadline],” Mr. Tugade told reporters after the business conference.
SMHC’s proposal for the New Manila International Airport in Bulacan has been pending final approval since April, when the NEDA first conditionally approved the project.
Finance Secretary Carlos G. Dominguez III previously said the financial backing of parent company SMC is needed to give the final go-ahead for the project, as SMHC’s total equity of P60 billion in 2016 was deemed insufficient to pursue the project cost if it followed a 70-30 debt-to-equity financing mix.
SMC had said then it is willing to follow the advice of the finance chief to follow a Joint and Several Liability Agreement with the proponent, and just needs the concession agreement to be finalized with the DoTr first to fix the plan. — Denise A. Valdez

Accenture launches online training program to develop ‘soft skills’

ACCENTURE Philippines (Accenture) said it launched the “Skills to Succeed Academy” online training initiative to improve the so-called “soft skills” of jobseekers aged 16 to 24.
The program is part of Accentures’s Skills to Succeed program.
“By the end of 2017, Accenture had equipped 2.2 million with these skills — well on the way to its goal of equipping 3 million people by 2020,” the company said in a statement.
The program, designed and developed by the company, includes three courses and 36 learning modules.
Accenture Country Managing Director Lito T. Tayag during the program’s launch on Thursday said: ”Skills we need now in a digital economy are more than just one area of capability. They encompass a holistic and integrated set of skills.”
Mr. Tayag added in a statement on Thursday, “The Skills to Succeed Academy is part of our continuing commitment to building and upskilling Filipino talent through a technology-enabled employment readiness tool that is focused on the soft skills — an equally important set of attributes around work ethic, attitude as a team player and communications skills.”
Accenture collaborated with the Technological Skills and Development Authority (TESDA) on the Skills to Succeed to Academy which also aims to help technical vocation (TVI) graduates.
Non government organizations (NGOs) backing the program include Philippine Business for Education (PBEd), Philippine Business for Social Progress Inc. (PBSP), Foundation for Information Technology Education and Development, Inc. (FIT-Ed), and Bayan Academy for Social Entrepreneurship and Human Resource Development, Inc.
TESDA Director General Guiling Mamondiong said in a statement on Thursday, “We are delighted to collaborate with Accenture, PBSP, PBEd, FIT-Ed, and Bayan Academy on the Skills to Succeed Academy which aims to help Filipino jobseekers enhance their employability skills.”
He added, “This online learning initiative demonstrates the importance of collaboration between the private and public sectors in making education and training accessible to more Filipinos.”
Accenture Advanced Technology Centers in the Philippines Managing Director Ma. Nescel A. Asuncion said during the program’s launch that after a soft launch is August half of those registered had completed one module of the Skills to Succeed Academy.
“We had a soft launch in August. To date, we have seen 4,000 people registered and 2,000 have completed at least one module,” she said, adding that the initiative spread through word of mouth prior to the official launch. — Gillian M. Cortez

Phoenix Petroleum to issue up to P10-B commercial papers

PHOENIX Petroleum Philippines, Inc. said its board of directors had approved the issuance of commercial papers amounting to up to P10 billion, of which an initial series amounting to P7 billion are to be offered this year, the company told the stock exchange on Thursday.
With the board approval, Phoenix Petroleum said the Securities and Exchange Commission (SEC) had accepted the registration of the company’s commercial papers on Thursday in accordance with the implementing rules and regulations of the Securities Regulation Code.
The company has appointed PNB Capital and Investment Corp. as the sole issue manager for the commercial papers program, as well as the lead underwriter and sole bookrunner for the initial series.
Phoenix Petroleum said it will use 70% of the proceeds or around P4.9 billion for the importation of fuels and lubricants. The rest will be used to repay short-term loans with BDO Unibank, Inc., Asia United Bank Corp., Robinsons Bank Corp., United Coconut Planters Bank, and Development Bank of the Philippines, which are due in December.
The company, led by Dennis A. Uy, has been aggressive in acquiring new businesses. It recently said it was realizing the value of the new acquisitions as it maximizes synergies across its portfolio of fuels, lubricants, liquefied petroleum gas, trading and supply, convenience store retailing, and asphalt.
Phoenix Petroleum reported its net income during the first semester rose 59% to P969.8 million, while revenues jumped by 113% to P40.25 billion. The growth was primarily driven by a 63% increase in total volume sold.
In terms of market share, Phoenix Petroleum said it now holds the third spot, with a 7.12% share, citing a report from the Department of Energy as of the first quarter of 2018. — Victor V. Saulon

San Miguel halves food unit share sale, seeks $920 million

MANILA/SINGAPORE — Philippine conglomerate San Miguel Corp. said it is looking to raise about $920 million through a sale of shares in its food unit, slashing the size of the offering by almost half due to weakness in the stock market.
The sale of a minority stake in San Miguel Food and Beverage is part of the parent firm’s restructuring plan that was announced in August 2017.
In a regulatory filing to the stock exchange, the food unit said San Miguel is seeking to sell a total of 523 million shares in a price range of P85 to P95 per share.
This excludes an over-allotment option of up to 15 percent of the offering.
The price range compares with regulatory filing figures of up to 1.02 billion shares on offer and of up to P140 per share, a premium of about 75 percent to the unit’s trading price at the time of the announcement of the plan.
While regulatory filing prices are often set far above expected book building ranges in the Philippines, it is not common for the number of shares on offer to be cut.
Earlier on Thursday, San Miguel President Ramon Ang offered varying statements to reporters about potential pricing, saying both that the shares could be priced at P90 to P100 and that they could be priced between P85 and P100.
“Weakness in stock markets has put further pressure on the pricing,” said one source, who did not wish to be identified as he was not authorized to speak to the media.
San Miguel plans to use proceeds from the share sale to invest in its business, but it did not provide details. The conglomerate is pursuing an aggressive expansion plan that involves venturing into infrastructure, mining, petroleum and power generation to boost revenues. — Reuters

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