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Rice handling, storage losses estimated at nearly 900,000 MT/year

THE Philippines loses nearly 900,000 metric tons of rice each year between farm and market, according to the Philippine Rice Research Institute (PhilRice).
In a Senate budget hearing, PhilRice Deputy Executive Director Flordeliza H. Bordey said in a senate budget hearing on Tuesday that the losses were due to mishandling and poor storage practices.
“Almost 889,000 metric tons is the estimate used by the PSA (Philippine Statistics Authority) from all types of losses,” Ms. Bordey said.
Agriculture Secretary Emmanuel F. Piñol said the PSA loss assumption is a 6.5% wastage rate every year. The PSA estimates 2017 production at 19.28 million metric tons of palay.
“It is a constant 6.5% year-on-year. These losses actually occur during distribution,” Mr. Piñol said.
Senator Francis N. Pangilinan said that the Department of Agriculture could have lowered the import requirement by minimizing handling losses. The Philippines imports about 7% of its rice requirement.
Senator Loren B. Legarda said that the DA should look into ways to reduce waste.
“One of the recommendations is packaging rice in the public markets. If we can sell rice in packets of one or two kilos, it will be safe,” Mr. Piñol said, adding that such packaging measures are being implemented by the National Food Authority.
Mr. Piñol said that open sacks are prone to losses due to spillage. — Reicelene Joy N. Ignacio

Peso nears P54:$1 level on trade tensions, data

THE PESO weakened against the dollar on Tuesday as it inched closer to the P54 level amid continued cautiousness over trade tensions abroad fuelled by a wider local trade deficit in July.
The local unit closed Tuesday’s session at P53.94 versus the greenback, six centavos weaker than the P53.88-per-dollar finish on Monday. This is a fresh low for the peso in nearly 13 years or since it closed at P53.985 per dollar on Dec. 7, 2005.
The peso opened the session weaker at P53.94 versus the dollar, sinking to an intraday low of P53.97. Its best showing was at P53.87 per US unit.
Dollars traded slipped to $434.1 million from the $434.9 million that exchanged hands the previous day.
UnionBank of the Philippines chief economist Ruben Carlo O. Asuncion said the peso slipped further as the “trend is still toward weakness.”
“There is still lingering cautiousness on the escalation of US-China trade war,” Mr. Asuncion said in a text message.
China said it will respond if the United States takes new steps on trade as US President Donald J. Trump said he is ready to slap $267 billion in fresh tariffs on Chinese goods on top of the $200 billion to be implemented soon.
“The trade deficit also did not help to shore up the peso,” Mr. Asuncion added.
The country’s balance of trade in goods stood at a $3.55-billion deficit in July as imports accelerated while exports grew relatively flat.
Exports grew 0.3% to $5.85 billion in July, slower than the 2.8% growth in June as well as the 21.9% in July the previous year.
On the other hand, the country’s import bill increased 31.6% to $9.4 billion during the month, faster than the 24.2% the previous month while reversing the 0.3% decline in July 2017.
“Domestic demand continues to drive strong import growth which has not been matched by exports,” Nicholas Antonio T. Mapa, senior economist at ING N.V. Manila branch, said in an e-mail.
He added that the weak peso contributed to the weak trade performance, noting that the recent strong rhetoric from the Bangko Sentral ng Pilipinas (BSP) in response to elevated inflation and weakening local unit “could help stem the currency’s weakness and prevent the trade gap from widening further.”
Last Friday, BSP Governor Nestor A. Espenilla, Jr. said the central bank will take “strong immediate action” to address threats to price increase and inflation expectations.
For Wednesday, Mr. Asuncion expects the peso to move between P53.75 and P53.95, while a foreign currency trader gave a P53.80-P54 range.
PESO A VICTIM OF EM ROUT
Meanwhile, the Department of Finance (DoF) Tuesday, September 11, sought to dispel worries over the depreciation of the peso, which is among the victims of the emerging markets rout over the Turkey crisis, saying that macroeconomic policies are best indicators of resiliency.
“The Philippine peso has been moving in tandem with Asian currencies amid severe exchange rate volatility spawned by the global trade war, the Turkey-Argentina crisis and the Fed[eral Reserve] monetary normalization,” the DoF said in an economic bulletin on Tuesday.
“Maintaining good macroeconomic policies, through manageable fiscal and BoP (balance of payments) balances, and adopting economic reforms through tax reforms and still the best way to sustain growth and investment and, at the same time, steel the economy from external economic shocks,” the DoF said.
As of the first half, government revenues were above target by 8% due to the Tax Reform for Acceleration and Inclusion law as well as improved tax administration.
The peso fell to its lowest level in nearly 13 years last week, nearing the P54-a-dollar mark.
Following the local currency is the Chinese yuan, down 4.97%; the Korean won, down 4.46%; and Taiwan dollar, which lost 3.46%.
The DoF said the economies that saw their currencies depreciate the most saw the fastest growth rates among 12 emerging markets as of the first semester, with India at 8.2%, the Philippines at 6.3% and Indonesia at 5.2%.
“Since July 31 when emerging markets were the target of adverse hot money movements as contagion spread from problems in Turkey and Argentina, the Philippine peso depreciated by 0.82%, ranking 5th among 8 Asian countries whose currencies depreciated,” the DoF said.
According to the DoF, the Philippine peso depreciated by 7.39% since the start of the year, the third worst among 12 currencies of the fastest-growing Asian countries, behind the Indian rupee’s and Indonesian rupiah’s decline of 11.7% and 9%, respectively. — KANV and EJCT

Stocks slump on US-North Korea meet concerns

LOCAL EQUITIES slumped on Tuesday as the second meeting between United States and North Korean leaders alongside the delay of President Rodrigo R. Duterte’s scheduled speech in the afternoon dampened investor sentiment.
The bellwether Philippine Stock Exchange index (PSEi) dropped 1.02% or 78.14 points to close at 7,518.01 Tuesday, September 11, managing to rise from its intraday low of 7,492.40 before the closing bell. The broader all-shares index likewise fell 0.93% or 43.43 points to 4,597.28.
“Participants may have been anticipating President Duterte’s supposed address to the nation. This was, however, moved from the original schedule of 3 p.m. to a later time,” Papa Securities Corp. trader Gabriel Jose F. Perez said by e-mail.
Mr. Duterte announced on Monday that he will be addressing the nation at 3 p.m. on Tuesday, Sept. 11. Malacañang, however, canceled the supposed appearance and later said that the president will have a “tête-à-tête” with Chief Presidential Counsel Salvador Panelo.
“Local shares slid once more as FANG weakness, apprehension over a second meeting between Trump and Kim Jong Un, and lingering concern over US and China trade tensions weighed on investor optimism,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a text message.
FANG stocks are those of four of the largest technology companies in the world, namely Facebook, Amazon, Netflix and Google. The stocks have been declining in previous days which some analysts attribute to seasonality.
North Korean leader Kim Jong Un was also reported to have requested for a second meeting with US President Donald J. Trump to continue nuclear negotiations. This will be a follow-up to their first meeting in Singapore last June.
Wall Street indices ended mixed overnight, with the Dow Jones Industrial Average dipping 0.23% or 59.47 points to 25,857.07. In contrast, the S&P 500 index gained 0.19% or 5.45 points to 2,877.13, while the Nasdaq Composite index added 0.27% or 21.62 points to 7,924.16.
Most Asian indices also posted slower performances following the announcement of Kim Jong Un’s second summit with Mr. Trump.
Back home, all sectoral indices closed in negative territory, led by the mining and oil sector which closed 2.19% or 212.43 points lower at 9,447.46. Holding firms shed 1.8% or 136.12 points to close at 7,396.41; industrials gave up 0.8% or 91.04 points to 11,227.99; financials slipped 0.75% or 12.85 points to 1,692.92; services lost 0.48% or 7.37 points to 1,510.32; while property went down 0.37% or 13.93 points to 3,728.90.
Some 1.12 billion issues switched hands valued at P5.40 billion, thinner than the previous session’s P7.40 billion.
Decliners were almost triple advancing stocks, 150 to 58, while 42 names ended flat.
Foreign investors were net sellers for a ninth straight day, with net outflows reaching P577.03 million on Tuesday, albeit lower than the P852.58 million in net sales posted on Monday. — Arra B. Francia

The inflation fiasco: Scrambling to find the right solution

IN August, inflation clocked in at 6.4%, once again exceeding official targets and market expectations. The Bangko Sentral ng Pilipinas (BSP) projected inflation to be within 5.5% to 6.2%. Last month’s inflation also marked the highest increase in almost a decade. Month-on-month inflation also picked up to 0.9% in August from 0.5% in July, after it started losing its momentum in the last few months. For the first eight months of the year, inflation already averaged at 4.8 %, exceeding central bank’s upper end target of 4% for 2018.
Our top officials scrambled to come up with a united front in response to the ongoing inflation saga. President Duterte blamed Donald Trump because the US imposed tariffs on China, the Philippines’ top trading partner. Presidential spokesman Harry Roque admitted that inflation was higher than usual but should be nothing to be worried about. He attributed inflation to strong domestic demand and faster imports of materials for the government’s infrastructure program. Contrary to Roque’s remarks, the central bank governor, for his part, blamed it to an “unfortunate confluence of cost-push factors” and remarked that “these warrant more decisive non-monetary measures to fully address.” Socioeconomic Secretary Ernesto Pernia followed the same tune, adding that the agriculture sector must act quickly to boost output and introduce policy reforms.
WHAT HAPPENED?
Electricity, gas and other fuels contributed the most to inflation in August. Unsurprisingly, the operation of personal transport equipment was also a significant inflation driver for the month. These items are sensitive to global oil price fluctuations, which have gone up by almost 20%, and to exchange rate vacillations, with the peso losing its value against the dollar by around 4% since the start of the year.
Agricultural products such as fish, rice, vegetables and meat dominated the list of top inflation drivers. The thinning rice supply in some parts of the country led to a 7.1% spike in rice prices. The National Food Authority (NFA) and the interagency NFA council have only pointed their fingers at each other for the delay in rice imports. Fish prices were also elevated as the Agriculture department restricted commercial vessels from fishing in municipal waters, which, in turn, limited fish supply. Vegetable production was affected by the onslaught of typhoons, while meat prices also went up as corn, a key ingredient in animal feeds, became more expensive.
Unfortunately, these are the very same commodities that regularly feature as the top inflation contributors, which means that our officials have fallen short of introducing effective reforms in the sector. Sadly, we have only witnessed the Agriculture Secretary respond to this fiasco by enjoying a meal of weevil-infested rice and round scad on live television.
OUTLOOK
While consumer expectations are usually subdued in the third quarter before recovering in the final quarter of the year, it reached its lowest level under the Duterte administration as consumer sentiment became pessimistic. Business outlook, while still positive, also reached its lowest level since 2014. A common denominator of the less optimistic outlook is the expectation of higher commodity prices. The elevated inflation outlook also plays a crucial role in determining inflation, as consumers and businesses tend to adjust their behavior based on their expectations.
In response to the continued ascent of commodity prices, the central bank raised interest rates by 50 basis points over a six-week period in May and June, and another 50 basis points in August. BSP is reportedly contemplating on a fourth policy hike on its next meeting in September. Yet, critics say that the rate tightening came in too late, as it may take several months for its effect to be felt. Further, since inflation is predominantly supply-driven, hiking interest rates may not be the most appropriate policy response. The rate tightening has also dampened economic expansion, which recorded a 6% growth during the 2nd quarter of the year — interrupting ten straight quarters of economic growth above 6.5%.
By the government’s own estimates, the TRAIN Law has only added 0.4 percentage points to inflation. Yet, those at the bottom 30%, the same segment who did not benefit from the cut in personal income taxes and hit with higher commodity prices, need all the help they can get. While the implementation of these social programs under the TRAIN was delayed, the soaring prices have further crippled those who were already marginalized to begin with.
The Unconditional Cash Transfer, for example, only started its implementation in June this year. By August, only 6.1 million beneficiaries have received the cash transfer. The remaining 3.9 million beneficiaries are still set to receive their cash transfers in the fourth quarter of the year. The 179,000 beneficiaries of the Pantawid Pasada program, which was only launched in July, will receive their cash cards in September. The Philippine Identification System Act was signed into law in August, and while it would be helpful in targeting program beneficiaries, it will only be enforced next year. The rice tariffication bill, which economic managers have long been pushing for, has passed the lower house on third and final reading in August and will be up for deliberations in the Senate. Again, it will take some time before these reforms materialize.
The inflation mess is the failure of our top officials to coordinate the appropriate policy response to several long-standing issues. The administration has lined up several grand plans within its term, but unless it manages to address these issues, it will only risk biting more than it can chew.
 
Weslene Uy is a Senior Economic Research Analyst of the Stratbase ADR Institute.

Go home and plant kamote

IN grade school in Tacloban, Leyte, what we pupils dreaded most was to be told by the teachers, “Bobo…better go home and plant kamote!
I guess that served to create the impression in our young provinciano minds that planting kamote or laboring on the soil for that matter was a lowly undertaking, and was only for simpletons and those with no upward strivings. No wonder that, as we grew older, most of us wanted to leave the province — away from the farm — to seek our fortune in Manila.
I must confess that in my own family, no one chose to remain in the farm to take care of what our parents had scrimped so hard to own — land that they could pass on to their children.
The other day, Ringo, my eldest son and the only one among my children residing in the Philippines, posted a red flag message on viber, “Siling labuyo is now over P1,000 per kilo (sticker price says P1,295 per kilo). Grabe na inflation sa Pilipinas.”
In this connection, Agriculture Secretary Emmanuel Piñol, at least, had a useful suggestion Instead of complaining, plant your own siling labuyo.
Here is what one news item reported:
In a Facebook post, Piñol said that it would be “wise to be innovative” on the heels of soaring prices of commodities powered by the increase in fuel prices and electricity rates.
When you buy red sili, make sure to get a few seeds, sun-dry these and plant them in flower pots. When you gurgle in the morning when you wake up, just throw the water in the pot,” the secretary said.
“Before you know it, you would just wake up one morning to see your plants adorned with red fruits. Kailangan lang kaunting sipag para hindi reklamo nang reklamo,” he added.
Piñol also said that red sili was being sold for only about P50 per kilo in Kidapawan, Cotabato, as “almost every farmer in the province plants ‘sili’ in his backyard.”
It was Piñol’s advice that brought back to mind the admonition of my grade school teachers. That “lowly” undertaking of planting kamote and other crops may be the best thing that our people can do to survive rising prices and the very real threat of starvation, not to mention the daily reality of malnutrition.
I suggest that Piñol — in fact, the entire administration of President Rodrigo Duterte — should expand and pursue the concept of self-sufficiency beyond growing siling labuyo. One reason why we are falling behind neighboring countries in Asia is that we are a nation of consumers rather than manufacturers, a nation of buyers rather than sellers.
My late father-in-law, Jose Nobleza of Jovellar, Albay was a farmer. Papa was scandalized at the sight of people discarding the seeds of fruits that they had just eaten.
“Why didn’t you plant those seeds instead of throwing them away?” he would admonish.
The folks at our home in Parañaque have been taking Papa’s advice. In our front yard, we now have a fully grown avocado tree that has begun to bear fruits, a couple of fruit-yielding papaya trees, a guava tree, a malunggay tree and, oh yes, siling labuyo — all because the house help decided to stick seeds in the ground instead of throwing them away.
If I only had a green thumb (I have a brown thumb and everything I plant shrivels and dies), I would like to start a vegetable garden in our yard. Thank heavens for house help with green thumbs, I have been allowed to contribute to the family budget by planting ideas instead of kamote and vegetables.
But I do recall that, during the Japanese occupation of the Philippines, every household was required to maintain a vegetable garden. If there was no yard for a vegetable plot, people had to grow their plants in flower pots mounted on window sills. Households also raised poultry and had goats and pigs too freely roaming in the yard.
Starvation was never a threat in those days. Just death by bayoneting or losing one’s head to a samurai.
While in the grades in Tacloban, we were all required to maintain vegetable plots as part of our vocational education (home economics for the girls).
What about city dwellers and those who have no land for planting? They can resort to hydrophonics. According to available data, indoor gardening (in warehouses, containers and especially-made growing chambers ) is fully developed in Asia. Japan, China, South Korea and Taiwan have major agricultural industries using the hydrophonic system.
These days, people complain about the high cost of food without striving to learn how to grow them, and about the high cost of everything else, without bothering to learn how to make them.
One can argue that if one can afford to pay for food, why bother to grow them? And if one can afford to buy clothes, toys and gadgets, why bother to make them yourself?
But it is not simply affordability. I think it is a problem of values. On one visit to a farmhouse in a barrio in Albay, our hosts apologized to us for preparing “only chicken” for lunch. They said that if they had known we were coming, they would have bought sardines.
The impression was obviously that, for folks from Manila, a meal of sardines was more “high class.”
The other problem is the harsh reality that more and more people cannot afford to pay for food (or sardines) or buy other necessities. Because people have to eat, the food has to be grown somehow and because certain necessities cannot be done without, they have to be made somehow.
It is said that the late President Ramon Magsaysay once demanded to know why the Law of Supply and Demand could not be repealed. His aides didn’t quite know how to respond. In fact, that law can be countered and neutralized — by increasing supply and decreasing demand.
Take rice. Filipinos have a higher average individual consumption of rice than other Asians, the rationale being that rice “makes you feel full” and it compensates for having little or no ulam (viand).
The truth is, we can reduce our individual intake of rice by over half and turn out healthier for it. I think a serious educational campaign should be undertaken on the nutritional benefits of reducing rice consumption in the Filipinos’ diet and increasing the consumption of vegetables and fruits.
I grew up making my own toys because my parents didn’t think it was necessary to buy them for me. I’m sure my own kids would have learned how to make their own playthings if we didn’t feel that it was a parental duty to spoil them.
Indeed, a good life tends to spoil us and allow us to spoil our children. Perhaps the silver lining behind the soaring cost of commodities is that our people will be forced to plant them, grow them, develop them, and make them for themselves.
I think we should start telling our people to go back to raising poultry and maintaining a small piggery and to go home and plant siling labuyo and other fruits and vegetables — and, oh yes, plant kamote.
 
Greg B. Macabenta is an advertising and communications man shuttling between San Francisco and Manila and providing unique insights on issues from both perspectives.
gregmacabenta@hotmail.com

Inch by inch, it is a cinch

YEARS AGO my daughter, who was then nine, wanted to go wall climbing. Though she’d never done this before, we thought it was a great idea to enjoy the weekend.
When we got to the venue my nine-year old quickly geared up for the 60-foot wall climb. Once geared and strapped for safety, she eagerly rubbed powder on her hands and was off in a jiffy!
Before I’d finished gearing up myself, she was already at the top, and from the top of the wall she turned around wanting to be applauded.
The fun really kicked in after she came down and was hooked up again for a second go at the wall.
This time, though, after she pulled herself up a few notches on the wall, she stayed there. Yes, just a few notches and then she just plain stayed there.
“C’mon you can do it, go, get to the top!” I yelled. “Keep your eyes on the top and just go one step at a time,” added the wall-climbing coach.
She didn’t move an inch! She screamed back saying she was happy where she was and that we should let her be. No amount of cajoling or pleading would move her. So there she stayed for the rest of our adventurous Saturday afternoon.
Fear, unfounded, had taken hold of her spirits and she would not budge an inch. Her past performance created no motivation for her and all she could do was to stay numb to all admonishments.
How many times do we find ourselves in the same circumstances? How many times do we get locked into a state of inactivity and stagnancy? I believe it is referred to as a state of homeostasis.
At the individual level this can be easily and directly related to fear and trauma. At the organizational level it is not easy to diagnose the root cause, but, yes, it is almost always a very similar cause.
Recognizing and isolating this malady requires insights and experience from the leaders of that organization. Healing such a malady can be brought about by taking into account a Neuro Linguistic Programming principle which states that, “Anything can be accomplished if the task is broken down into small enough steps.”
Any of our previous processes, accomplishments and successes when recorded and studied carefully can be replicated over time, given that all external and internal circumstances are steady and similar.
Neuro-Linguistic Programming stresses that the reason we fail or stagnate is much more related to our internal state of mind and not as much to a state of external circumstances.
Ask someone to shoot a moving toy duck, and he can and will do it once, twice, thrice but beyond a certain number his sense of personal expectations will take a plunge.
He may not get tired, the aero dynamics of the moment may not change, but the awesomeness of the thought of repeatedly succeeding at the task will sabotage his confidence and faith in his own skills. He will then sink into fear and then failure.
It is a similar dynamism that occurred inside my daughter’s mind when she made her second attempt to climb that wall, and it is the same thing that happens to us when we get awed by having overcome a few too many hurdles towards growth in business.
The idea is to thin slice and segregate our thoughts and actions, about success, in such a way that they can be objectively recorded and then duplicated upon call.
So eventually, I cooled down and had my daughter remember what she did on her first run up the wall and then just make an effort at scaling just three grip-holds at time. She took a deep breath and slowly but steadily progressed up and then to the top. This time as she turned around, the look on her was face wasn’t just a thrilled look but it also glowed with gentle wisdom.
This is the gentle wisdom that many massively successful individuals and organizations do time and again. They thin-slice their past successes, segregate the elements, analyze them objectively and then replicate them over time for sustaining successes.
“Anything can be accomplished if the task is broken down into small enough steps,” claims the school of neuro-psychology. “Inch by inch, it is a cinch,” claims the successful man and woman on the street.
 
Raju Mandhyan is an author, coach and speaker.
www.mandhyan.com

Shanghai-London Stock Connect extends China’s integration with global market

FOLLOWING the positive outcomes of President Xi Jinping’s state visit to UK in October 2015 and the China-UK Economic and Financial Dialogue, authorities from the two countries have agreed through consultations to establish a market connect scheme between the Shanghai Stock Exchange (SSE) and the London Stock Exchange (LSE). It allows listed companies from both countries to cross-list depository receipts (DRs), a program referred to as the Shanghai-London Stock Connect.
A stock connect is a unique collaboration between stock exchanges in the respective countries to allow investors to trade securities in each other’s markets through the trading and clearing facilities of the investors’ home exchange. Hence, Shanghai-London Stock Connect removes restrictions for UK’s investors into China and vice-versa.
In order to facilitate business activities under the Shanghai-London Stock Connect, the China Securities Regulatory Commission (CSRC) has drafted the “Provisions on the Supervision and Administration of Depository Receipts under the Stock Connect Scheme” and it is up for trial.
The provisions stipulate normative requirements for market entities as well as their activities under the Shanghai-London Stock Connect, committed to the principles of protecting the legitimate interests and rights of investors, maintaining market order, and containing financial risks.
The Provisions contain 30 articles which include such aspects as DR issuance, listing, trading, information disclosure, and cross-border conversion.
The provisions include details of application documents, review and approval procedures, and sponsors, due diligence, accounting and auditing requirements, and amount cap on China DRs in proposed issuance.
For cross-border conversion mechanism for China DRs specifics on the two types of cross-border conversion, namely creation and redemption, eligibility criteria and registration requirements, Chinese Mainland securities companies will engage and put forward a code of conduct for cross-border conversion institutions regarding assets custody and overseas investments.
Principles with respect to regulatory and supervisory requirements for CDRs are also provided. Framework for regulations are being established and put in place regarding terms on Great Britain DR issuance conditions, offering price, lockup period for redemption, as well as requirements on foreign securities companies and depositary banks.
Enforcement activities that specify the legal responsibilities of all relevant market participants have also been established.
The Shanghai-London Stock Connect is a milestone between both countries to further the two-way opening of Chinese capital markets in response to the directives of the 19th National Congress of the Communist Party of China (CPC).
The idea of Stock Connect is not new, as the Shanghai-Hong Kong Stock Connect was established in 2014 and after two years, the Shenzhen-Hong Kong Stock Connect was launched. It was symbolic for China and Hong Kong because it signifies that there is an increasing awareness, demand and opportunities for securities in both countries.
The trading turnover northbound into China via Hong Kong has increased since its launch. Last month alone buy and sell trades in total into Shanghai and Shenzhen Stock Exchanges was RMB 460 billion.
Shanghai-London Stock Connect is a significant move and sets the pace for similar stock connects with other markets in the future. In addition to recent bold moves in easing foreign ownership of China’s mutual fund companies are futures trading firms, securities brokers and banks the Chinese financial industry will swiftly and rapidly integrate into the global financial system.
CHINAKNOWLEDGE

The three obstacles business operators face when going digital

Late last year, UnionBank rolled out UnionBank GlobalLinker, a free platform designed to help businesses of any size and industry launch and scale their digital operations. Since then, the platform has grown to service over 21,000 users across 17,000 partner MSMEs (that is, Micro, Small, and Medium Enterprises).
Lead proponent Dino Velasco sat with SparkUp to explain the three main obstacles MSMEs face in taking their businesses online. He also shared how platforms like UnionBank GlobalLinker provide the means to not only compete digitally, but thrive as well.

The new initiative comes as part of UnionBank’s broader plans towards transforming the company from a bank, into a tech company with a banking license. Mr. Velasco discussed what that shift means for UnionBank, the industry at large, and, ultimately, the banking customer experience.

Woman takes helm of Davao Occidental Tigers


By Rey Joble
IN the history of basketball, few women proved that they could also stood out in a game usually being managed by men.
Jeanie Buss, daughter of the late Dr. Jerry Buss, inherited the ownership of the Los Angeles Lakers from his dad and for more than a decade, she’s been running show time at the front office, being the controlling owner and president of one of the most fabled teams in the NBA.
Before she became Senator of the Republic of the Philippines, Nikki Coseteng was helping her father, the late Emerson Coseteng, the founding president of the PBA, running Mariwasa. Nikki became team manager then later on assumed ownership of the squad that had undergone several name changes — from Mariwasa to Noritake, to Mariwasa Honda to Galerie Dominique Artistas.
To see another woman running the basketball affairs isn’t surprising at all.
Meet Claudine Bautista, the young, dynamic team owner of the Davao Occidental Tigers-Cocolife in the Maharlika Pilipinas Basketball League (MPBL) and to draw comparison from Buss and the other women team owners was really flattering.
Davao Occidental is actually the ‘youngest’ province in the country and elected their local officials for the first time in 2016.
“I’ve always been involved in sports. I used to do triathlon, I shoot, and when I was young, my dad taught me how to play basketball and billiards. I never really taught of gender being a detriment in any sports. If you look at it LA Lakers is owned by a woman, Jeanie Buss. It’s actually flattering knowing how people get surprised that the team is owned by a woman,” Ms. Bautista told BusinessWorld.
“I never really knew that LA Lakers was owned by a woman, it was our coaches who told me that and tease me about it. When my dad said we were joining MPBL, he gave me authority with everything in our team. I always take every responsibility as a challenge. My work entails me to deal with men most of the time and I’ve never been intimidated by it well except when it’s dealing with the President (Rodrigo Duterte).”
Ms. Bautista isn’t just your typical team owner who inherited the basketball genes from her dad, Governor Claude Bautista of Davao Occidental, who used to be a former varsity player. The young Bautista worked as a social worker and loves to do community services.
“I was a social worker before. I’ve always been involved with communities. I find it really fulfilling,” added Ms. Bautista. “I’m Ambassadress for Habitat for Humanity Davao and Caraga Region, I volunteered in building houses in Cagayan before and then during my birthday, I’d ask my parents and titos, titas to help me build classrooms for marginalized communities.”
But make no mistake about it, Ms. Bautista has a very impressive resume outside of basketball and community works.
She graduated with a degree in Hospitality Management from Glion Institute of Higher Education, Switzerland. She also finished her BS Entrepreneurship from Ateneo De Davao then took and completed International Politics from Kings College, London and culinary from Italian Culinary Institute, Italy.
Using her involvement in community works, her hospitality and graciousness she received from her family, Ms. Bautista made sure that the first hosting job of Davao Occidental in the MPBL will be a grander one.
There, Davao Occidental made everybody comfortable, from the MPBL officials headed by league founder and Senator Manny Pacquiao and PBA legend and current commissioner Kenneth Duremdes and their staff all the way to its rival teams.
“For the preparation, we had a fellowship night in a Hawaiian theme. It happened on the 29th, a day before the game. My aim was to make other teams — Rizal, Pasig, and Valenzuela — to feel welcome in our city. We also had raffles for the players and the coaches. It was a way for everyone to get to know each other off the court and create friendship amongst the teams,” said Ms. Bautista.
“I wanted them to feel very welcome here despite the fact that we will be playing against each other. But then again, I believe that the experience we all had, the friendship we have created amongst the other teams is more valuable than the expenses I had in hosting the event and for me that is more rewarding.”
Aside from hosting the first official game in the Mindanao region, Davao Occidental also did a basketball clinic for high school students called “Project Big Brother.”
“The children are high school students from the five municipalities of Davao Occidental — Sta. Maria, Malita, Don Marcelino, Jose Abad Santos and Sarangani,” added Ms. Bautista. “It was my initiative and was supported by our sponsor Cocolife. We had a meeting with all our sponsors a month ago and we came out with corporate social responsibility projects that would benefit the people of Davao Occidental mainly. This is one of the CSR projects the Davao Occidental Tigers have and we have other activities lined up gearing towards helping communities in the Province.”

Red Lions double on Knights but not after another scare

By Michael Angelo S. Murillo, Senior Reporter
THE DEFENDING champions San Beda Red Lions swept rivals Letran Knights in their season series in National Collegiate Athletic Association Season 94 after winning anew, 74-68, in their second-round encounter on Tuesday at the FilOil Flying V Centre in San Juan City.
Had Letran’s number in the first round, San Beda made it two-of-two over the Knights but not after being given another scare by the latter.
Like in their first encounter where the Lions labored to a 80-76 overtime victory, in the reengagement they were made to sweat anew late in the game by the Knights, who nearly erased a huge lead by San Beda in the fourth period and were a play or two away from pulling the rug from under the Lions.
It was tightly fought to start the contest with the two teams jostling to set the pace.
The score eventually settled at 16-15 with San Beda on top after the first 10 minutes.
The back-and-forth continued in the second quarter.
Point guard Robert Bolick jump-started things for the Lions only to be countered later by Knights counterpart JP Calvo.
The two teams battled all the way to end of the opening half with the Lions maintaining control, 35-32.
In the third period, San Beda would go on a fast start, led by Javee Mocon and AC Soberano.
The Lions raced to a 47-33 lead in the first five minutes.
Bonbon Batiller and Jeremiah Taladua stopped the bleeding for Letran and allowed themselves to firm up their footing.
But San Beda would not relent on putting pressure on the Knights on both ends of the court, allowing itself to stay in command, 60-42, heading into the final frame.
Sensing they had the game under control, the Lions went for the jugular to start the fourth quarter.
But Letran was not to be deterred and tried to wiggle out from the San Beda stranglehold.
It managed to come within three points, 67-64, with 57 ticks remaining led by Bong Quinto.
A basket by Donald Tankoua with 50 seconds to go gave San Beda more breathing space, 69-64.
Letran sued for time after to set up a play where Quinto connected on a deuce with 40 seconds left.
Calvo then made it a one-point game, 69-68, with 16 seconds to go.
The Lions called timeout and free throws by Franz Abuda and Jomari Presbitero after made it 72-68 from which the Knights could not recover from.
Tankoua led the Lions (11-1) with 19 points and nine rebounds while Bolick added 13 points.
Mocon had a double-double of 12 points and 11 rebounds.
Quinto, meanwhile, paced the Knights (7-4) with 19 points while Calvo finished with 16.
“While we won I’m not happy with how we finished. I’m pissed off. Had we lost I would take the blame as I gave chance for everybody to play yet some players did not rise up to the challenge. They thought when we had the big lead it was already over,” said San Beda coach Boyet Fernandez after the game.
“Hopefully this serves as a lesson to our players that it is not over till the final buzzer,” he added.

‘Battle of Katipunan’ on UAAP deck today

THE University Athletic Association of the Philippines’ “Battle of Katipunan” rivalry is to played out today with the University of the Philippines Fighting Maroons and Ateneo Blue Eagles taking on each other for the first time in Season 81.
Had a contrasting start to their respective campaigns, the Maroons (1-0) look to stay unblemished early in the season in their 4 p.m. encounter against the defending champions Eagles (0-1), out to bounce back from their opening-game loss, at the Smart Araneta Coliseum.
Parading a souped-up lineup, UP used a strong second-half showing to run away and beat the University of the East Red Warriors, 87-58, on opening day on Sept. 8.
Juan Gomez De Liaño had solid all-around numbers of 16 points, seven rebounds and six assists while UAAP-debuting Bright Akhuetie, who previously paraded his wares in the National Collegiate Athletic Association, had a double-double of 15 points and 18 rebounds.
Jun Manzo, Paul Desiderio, and Javi Gomez De Liaño also finished in double-digits in scoring for the Maroons in the win, tallying 14, 12 and 10 points, respectively.
After a close opening half that was knotted at 33-all, UP surged in the second fold and never looked back on to the victory.
“It took us a while to figure things out but after talking to them at the halftime break the players adjusted and played that way they are capable of,” said UP coach Bo Perasol after their win.
“This is just the start for us and hopefully we could build on this victory,” he added.
EAGLES FLIGHT
Meanwhile, Ateneo seeks to rebound from its botched flight in its first game, losing 74-70 against the Adamson Soaring Falcons on Sept. 9 in their “avian clash.”
Had it cutthroat throughout the contest, the Eagles tried hard to get the better of the Falcons but just could not get the breaks in the end as they slumped to the defeat.
Matt Nieto led Ateneo with 21 points with Raffy Verano adding 10 points and eight rebounds.
Thirdy Ravena and Anton Asistio each had seven markers for the Eagles, who are coming off a solid preseason, including an impressive showing at the William Jones Cup in Taiwan.
“We’re looking at this (loss) as another challenge for us this season. We have to bounce back,” Ravena said following their tournament debut.
Playing before UP and Ateneo at 2 p.m. are the Far Eastern University Tamaraws (1-0) and University of Santo Tomas Growling Tigers (0-1).
The Tamaraws are off a 68-61 win over the De La Salle Green Archers on Sept. 8 while UST bowed in its opener against season hosts National University Bulldogs, 75-70, on Sept. 9.
Meanwhile, Adamson’s Jerrick Ahanmisi was the first recipient of the UAAP player of the week award after leading the Falcons to their huge win over Ateneo.
Ahanmisi put up 23 points, going 8-of-17 on the floor, to go along with four rebounds to help the Falcons hold down the Eagles.
In winning the award, given by the league press corps, the Adamson junior beat out UP’s Juan Gomez De Liaño, NU’s Dave Ildefonso and FEU’s Arvin Tolentino — Michael Angelo S. Murillo

Tactical fight should not have ended in a split draw — analyst

THE THIRD all-Filipino world championship fight in boxing history took place on Sunday (Manila time) in California, but unfortunately it failed to end with a resolution as the clash between Donnie “Ahas” Nietes and Aston “Mighty” Palicte for the World Boxing Organization super-flyweight title ended in a split draw.
Such should not have been the case, a local fight analyst said, for despite being a true tactical fight there was a clear winner, and it was Murcia, Negros Occidental’s Nietes.
Part of the “SuperFly 3” event of HBO and 360 Promotions that was held at the legendary The Forum in Inglewood, the scheduled 12-round world title fight went the distance and was eventually ruled a split draw, with the judges’ scorecards going 118-110 (Nietes), 116-112 (Palicte) and 114-114 (draw).
For combat sports analyst Nissi Icasiano, while the fight was indeed a close one, Mr. Nietes did more than enough to merit a victory and fulfil his date with history as a four-division world champion.
“As to how I scored and saw the bout, Nietes was well on his way to capturing a fourth division world championship… Honestly, if you’re going to ask me, I had it nine rounds to three in favor of Nietes. It was a close fight round per round, but Nietes did enough to pull away in those close rounds. The stats of the bout should also speak for itself. Nietes outlanded Palicte in the total number of punches. Moreover, Nietes landed more power punches,” said Mr. Icasiano when asked by BusinessWorld for his thoughts post-fight.
“[While] the number of punches thrown and landed does not always tell the whole picture, it definitely does help in showing how it played out,” he added.
The analyst went on to say that Mr. Nietes, who have won titles as a minimumweight, light flyweight and flyweight, had a slow start but eventually picked things up as the fight progressed.
“The fight was tactical from the very start, which drew the ire of many in attendance to see the bout live. Palicte had his moments, but Nietes clearly dominated the bout especially in the latter part. Nietes used his savvy boxing skills to break down Palicte. He clearly landed the more significant punches and combinations and managed to control Palicte’s aggressiveness,” Mr. Icasiano said of how things went for 36-year-old Nietes.
“For Palicte, he was the more active boxer. Palicte tried to use his height to his advantage, but he had futile success with Nietes able to make his way inside,” he added.
While the status quo has been preserved following the draw, still Mr. Icasiano said the outcome dealt a blow to both fighters’ career thrusts.
“There are a lot of options for Nietes’ camp. First, Michael Aldeguer may write the WBO to look into the result of the fight. Second, Nietes has the leverage because he remains as the No. 1 boxer in the WBO super-flyweight rankings. Meanwhile, Palicte still occupies the No. 2 spot. But I won’t be surprised if he doesn’t get the rematch nor the shot at the vacant title after the win of former WBA flyweight champ Kazuto Ioka against No. 3-ranked McWilliams Arroyo on the same card last weekend,” he said.
“The only downside I see with Nietes’ anticlimactic draw against Palicte is that it spoils Nietes’ plan to secure big money fights against other 115-pound champions,” Mr. Icasiano said.
The Palicte fight was the first foray of Mr. Nietes (41-1-5) in super-flyweight while Mr. Palicte (24-2-1) was trying to add his name to the roster of Filipino world boxing champions in said fight. — Michael Angelo S. Murillo