Home Blog Page 1235

Bloomberry’s Arasi resigns as president, COO

BLOOMBERRY.PH

RAZON-LED Bloomberry Resorts Corp. said Thomas Arasi has stepped down as the company’s president and chief operating officer (COO), effective immediately.

In a stock exchange disclosure on Tuesday, Bloomberry announced that Mr. Arasi has also resigned from the board of directors of Bloomberry Resorts, Bloomberry Resorts and Hotels, Inc., and all other positions in the company’s subsidiaries.

Bloomberry Resorts said Mr. Arasi’s resignation was effective on Tuesday, citing “personal reasons.”

Bloomberry is the operator of Solaire Resort & Casino.

The company recorded an attributable net loss of P472.43 million for the third quarter, down from a profit of P1.86 billion in the same period last year.

The company recorded a gross revenue of P13.67 billion, climbing by 27.3% from P10.74 billion in the comparable period a year ago. It posted a gross expense of P11.67 billion, 55.2% higher than the P7.52 billion in the third quarter last year.

For the January-to-September period, Bloomberry Resorts saw its attributable net income drop by 57.5% to P3.52 billion from P8.28 billion in the same period last year.

For the nine months ended September, Bloomberry Resorts’ gross revenue went up to P38.26 billion, marking an increase of 5.9% from P36.11 billion last year.

Its gross expense surged to P29.96 billion for the January-to-September period, climbing by 27.1% from P23.58 billion last year.

At the local bourse on Tuesday, shares in the company closed unchanged at P4.73 apiece. — Ashley Erika O. Jose

The demographic dividend of the Philippines: The case of South Korea’s decline

STEPHAN VALENTIN-UNSPLASH

(Part 5)

In the 1980s, the Total Fertility Rate (TFR) of the Philippines was six babies for every fertile woman. Today it has plummeted to 1.9 babies for reasons explained in the previous articles of this series. The question is: will the Philippines face the same fate as countries like Spain, Taiwan, and South Korea in which the TFR has fallen below one baby per fertile woman?

The extreme case is South Korea. Recently, in a report from Firstpost, it was indicated that South Korea could become the first country to disappear from the Earth. Once known for its economic growth and modernization over the last 20 to 30 years, this East Asian country is facing a major fertility crisis such that its population could decline to a third of its current size by the end of the current century.

It would be enlightening for our country’s leaders and policy makers to learn some lessons from this industrial behemoth so that we can avoid facing the same sad fate of disappearing from this planet, for the good of the future generations of Filipinos.

The TFR of South Korea hit a record low of 0.72 children per fertile woman in 2023 and was expected to fall further to 0.6 in 2024. In response to this demographic crisis, the South Korean government is considering offering parents 100 million won in cash for each child born, in a desperate effort to reverse the declining birth rate. This is reminiscent of what the Government of Singapore under Lee Kuan Yew tried to do when it realized it made a terrible mistake in implementing a birth control program in the 1960s and 1970s. In the 1980s, the Singapore government — still very much under the leadership of Lee Kuan Yew — realized that it made a mistake and decided to reverse the population decline through all types of economic incentives, however to no avail. Today, Singapore is highly dependent on imported manpower to sustain its economic growth which has slowed down significantly.

Of course, the beginning of the fertility decline in South Korea was due to a State-sponsored campaign in the 1960s when there was an undue concern that rapid population growth was outpacing economic development, leading to the implementation of family planning programs to curb birth rates. In the 1960s — very much like the Philippines — South Korea’s TFR was six babies per fertile woman. By 1982, with economic growth, the TFR had dropped to 2.4, still above the replacement level of 2.1. A year later, the nation reached the replacement level and the fertility rate continued to fall sharply in the following decades. What began as a controlled decline became a demographic crisis, with projections suggesting that South Korea’s population could shrink from 52 million today to just 17 million by the end of the century. Some experts estimate a 70% loss of population, bottoming at 14 million people, a dire situation that could destabilize the economy and lead to unprecedented societal challenges.

Because of the very low fertility rate, the population of South Korea is rapidly ageing. The proportion of those aged 65 or over is set to rise to 25.5% of the population in 2030 and 46.4% in 2070. According to the Organization for Economic Cooperation and Development (OECD), 40.4% of South Koreans over 65 years already live in relative poverty, the highest in the developed world, while the country’s national pension fund is forecast to run out of money in just over 30 years’ time. An economist at Societe Generale in Seoul warns that South Korea will soon start to experience a negative growth rate as its population falls, leading to social problems relating to social insurance, public pensions, education, and military manpower.

We can learn some lessons by studying the root cause of this demographic crisis. What could be the root cause of this demographic suicide of the South Koreans? According to the Firstpost report, in many urban areas, a good number of women place a higher priority on their careers over having children. According to a survey in 2023, more than half of the respondents identified the “burden of parenting” as the main problem of female participation in the workforce. The increase in dual-income households and better access to education have enabled women to delay or even skip marriage and childbirth altogether.

Further, marriage is no longer viewed as a necessity for having children. Over the last decade, the proportion of people who accept having children without having to get married has grown from 22% to 35%. However, only 2.5% of children in South Korea are born out of wedlock, the Economic Times reported. Among those who marry, women are increasingly demanding a more equal distribution of household responsibilities.

As the Singaporean Government attempted to do in the 1980s and 1990s, without much success, the Korean government is turning to matchmaking to boost low birth rates. As recently reported by Reuters, against the backdrop of Christmas songs, 100 South Korean men and women gathered at a hotel near Seoul dressed in their best, with name tags hanging on their clothes, hoping to find potential marriage partners. These were participants at a mass blind-dating affair hosted by Seongnam City whose government hopes to reverse a falling birth rate in a country where popularity of marriage and enthusiasm for parenthood have nosedived.

The City of Seoul had considered a similar matchmaking initiative but put the plan on hold after facing criticism that it would be a waste of taxpayer money unless the Government first addresses the reasons behind people opting not to marry and have babies — most notably the sky-high costs of housing and education. Jung Jae-boon, a university professor, remarked that it was nonsense to expect these events to lead to higher birthrates. He advocated instead to spend more money directly on supporting pregnancy, child delivery, and parenting in order to boost birth rates.

Our leaders today should do everything possible to avoid the social and economic problems that South Korea is facing today because of the precipitous decline in the fertility rate. At this early stage of our own fertility decline, we have to closely observe what this recently developed East Asian country is doing to prevent its population from disappearing from the earth.

In a recent article that appeared in the Financial Times (April 2, 2024), it was reported that Korean construction group Booyoung is offering its workers a $75,000 bonus for each baby they produce. Political leaders had increased promises of financial incentives for prospective parents ahead of elections in May 2024. Parties from across the political spectrum announced proposals ranging from generous housing allowances and tax breaks, to compulsory paternity leave for fathers, and extended subsidies for egg-freezing programs.

Some companies appear to have found success with financial incentives. Retail giant Lotte has boosted the fertility rate among its employees since it introduced mandatory maternity and paternity leave programs in 2012. Female Lotte employees are entitled to two years of maternity leave in addition to the three months’ leave guaranteed by the State.

Experts, learning from experiences of other countries like Singapore that tried financial incentives to boost birth rates in the past, warn that these incentives have generally not worked.  Between 2006 and 2023, South Korea spent $270 billion in policies ranging from cash payments to subsidized babysitting and infertility treatments, but fertility rates continued to decline.    

There are entrenched social attitudes that made it hard for women to build careers and raise a family. This early in our own demographic transition, we have to be convinced that decisions related to marriage, having children and raising a family go much beyond economic and other earthly motivations but necessarily involve moral, spiritual, and religious dimensions. A widespread materialist or consumerist approach to life is fertile ground for human infertility.

(To be continued.)

 

Bernardo M. Villegas has a Ph.D. in Economics from Harvard, is professor emeritus at the University of Asia and the Pacific, and a visiting professor at the IESE Business School in Barcelona, Spain. He was a member of the 1986 Constitutional Commission.

bernardo.villegas@uap.asia

Arts & Culture (12/18/24)

PETER PAN and Wendy’s pas de deux in Ballet Philippines’ Peter Pan

Epson launches parol-making contest

EPSON PHILIPPINES has unveiled the INKredible Pasko Parol Making Contest, celebrating Filipino Christmas traditions while promoting sustainability. Participants are invited to create eco-friendly parols — the traditional Filipino Christmas lanterns — using recycled materials, such as paper plates, newspapers, and egg cartons, combined with at least four genuine Epson ink bottles. To join, contestants must showcase their parol-making process and final output through a photo or video on social media, tagging Epson Philippines and using the hashtags #EPSONInkrediblePasko and #EpsonPH. Submissions must be set to public and registered via the contest participation form at https://bit.ly/EpsonInkrediblePasko. The grand prize winner will take home an Epson CO-FH02 Projector, while the 2nd to 10th placers will also receive Epson products. Entries will be accepted until Dec. 31. For more details, follow Epson Philippines on Facebook, Instagram, and LinkedIn.


Ballet Philippines launches ‘Support a Dancer’ initiative

THE CLASSICAL and contemporary dance company Ballet Philippines (BP) has unveiled the “Support a Dancer” program, a new initiative aimed at empowering young ballet talents and sustaining the company’s tradition of excellence. The campaign invites patrons to help provide essential tools and training for BP’s dancers. Supporters can make contributions starting from P1,000, which can fund a pair of ballet shoes, up to P50,000 to enhance the training of the corps de ballet. These contributions play a vital role in supporting the artistic growth of BP’s dancers while fostering a culture of opportunity and achievement. Donations can be made via bank transfer to Ballet Philippines Foundation, Inc. through Philippine National Bank (Account Number: 150870004948), or through GCash at +639063723393. Donors are encouraged to e-mail proof of their donation to gina.cureg@ballet.ph and admin@ballet.ph for confirmation and official receipts. For more information, visit Ballet Philippines’ website and social media pages.


Keka Enriquez holds solo exhibition

CONTEMPORARY ARTIST Keka Enriquez returns to Manila with Points and Endings, a solo exhibition opening on Jan. 9, 2025, at Silverlens Manila. This marks her first exhibit in the city since 2008. It will feature a selection of works from her early years in the 1980s to her recent creations in San Francisco, where she has lived for the past two decades. The exhibit delves into the concept of home, combining bold colors, textured brushstrokes, and dynamic compositions to examine domestic interiors as both personal spaces and aspirational ideals. Ms. Enriquez’s works explore themes of memory, abstraction, and the psychological dimensions of familiar environments. After stepping back from the art world for 25 years, she reemerged in 2023 with fresh perspectives and new works. Points and Endings will be on view from Jan. 9 through Feb. 5, with an opening reception on Jan. 9 from 4 to 7 p.m. For inquires, contact Angel Stinson, marketing@silverlensgalleries.com. The gallery is located at 2263 Don Chino Roces Ave. Ext., Makati.

Allianz PNB Life sees sustained growth next year

ALLIANZ PNB Life Insurance Inc. (Allianz PNB Life) targets to be part of the top five life insurers in terms of new business annual premium equivalent (NBAPE) by next year on the back of sustained growth across its business segments.

“This year, we regrouped in NBAPE — basically net new growth in the industry. A big part of our transformation is really focusing on protection and health. Whereas previously, our growth came from investment single premium products, ours is now one that is focused also on the more sustainable side of the business, which is regular protection and health insurance solutions,” Allianz PNB Life Chief Marketing Officer and Head of Sustainability Gino Riola told reporters at an event last week.

“So, we have every intention to break back into the top five.”

In 2023, Allianz PNB Life booked an NBAPE of P3.3 billion, ranking it at seventh place among life insurers.

Its net income stood at P609.3 million last year, while its premium income was at P26.11 billion.

The company expects to post double-digit growth in premiums across its agency, wealth, and bancassurance segments this year, Mr. Riola said.

He said its wealth segment, which is an exclusive partnership with HSBC Wealth that began in October 2023, saw the fastest growth.

“We are positive in terms of growth… Of course, we’re looking to finish the year on a high, but we achieved our growth targets,” Mr. Riola added.

Allianz PNB Life sees sustained growth across all three segments next year and has “more ambitious targets,” he said.

“For example, our insurance penetration of our main partnership, which is PNB, is — relative to the competition — nowhere near in terms of overall penetration,” Mr. Riola said.

“In January, we will have a change in leadership and with that will come, I would imagine, more aggressive targets,” he added.

Allianz PNB Life’s growth will be driven by its digitalization, Mr. Riola said, along with a reassessment of its sales force and focusing on what products customers need.

“We actually have a legacy system. It’s been there for a while, which has been a challenge in terms of really pushing ourselves out in terms of digitalization. So, this new system launch is extremely important,” he said.

The company will also launch a new fund in the first quarter of 2025, he added, and is looking to roll out more products.

“We will start with that. We are reassessing it just because we feel that with a new system and with a greater appreciation of the segments that we’re looking into, it isn’t necessarily a new product push that we need to prioritize. The jury is out there. But as I said, one of our strengths has always been funds and most certainly new fund launches,” Mr. Riola said.

“There are new products launched, but with structure, with new sales, a new sales force, we’re reassessing where that is in terms of priority of investment.”

Allianz PNB Life is a joint venture between the Allianz Group and listed lender Philippine National Bank. Allianz acquired 51% of PNB Life Insurance, Inc., the life insurance arm of the Tan-led bank, in June 2016.  A.M.C. Sy

PLDT, union sign three-year CBA

PHILSTAR FILE PHOTO

PLDT Inc. has finalized a three-year collective bargaining agreement (CBA) with labor union Manggagawa ng Komunikasyon ng Pilipinas (MKP), the Pangilinan-led telecommunications company said on Tuesday.

In a stock exchange disclosure, the company said it formalized its 2024-2027 collective bargaining agreement with the union after executing a memorandum of agreement, which will be ratified within 60 days from the signing.

“The parties have formalized their agreement by executing a memorandum of agreement (MoA) in the presence of the DoLE (Department of Labor and Employment) Secretary and other key officials of the DoLE,” it said.

MKP is the exclusive representative of the company’s rank-and-file employees.

Once ratified, the collective bargaining agreement will take effect from Nov. 9, 2024 until Nov. 8, 2027, PLDT said.

To recall, PLDT said in May that it was willing to start collective bargaining negotiations with MKP as the collective bargaining agreement was set to expire on Nov. 8 this year.

PLDT cited the Labor Code, noting that both parties must meet and negotiate the renewal or modification of the bargaining deal at least 60 days before it expires.

The company said previously that its management and the MKP had come to an amicable resolution for their collective bargaining negotiations, effectively averting a strike.

At the stock exchange on Tuesday, shares in the company closed unchanged at P1,260 apiece.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Banning POGOs is just the beginning

INTERIOR and Local Government Secretary Jonvic Remulla (left), Philippine National Police Chief Gen. Rommel Francisco Marbil (right), Presidential Anti-Organized Crime Commission Executive Director Gilbert Cruz, and Alejandro Tengco, chairman, Philippine Amusement and Gaming Corp. lead the visit and inspection of the technical working group on illegal offshore gaming operations at the Island Cove facility in Kawit, Cavite, on Dec. 17. — PHILIPPINE STAR/EDD GUMBAN

On Nov. 5, President Ferdinand Marcos, Jr. enacted Executive Order 74, enforcing an immediate prohibition on offshore gaming, internet gaming, and other offshore gambling activities within the country. It sets forth directives to National Government agencies, local government units, and the private sector on how they can work together to eliminate this menace, the full effects of which have been realized in recent months.

The order also provides for the creation of two technical working groups (TWG). The TWG on Anti-Illegal Offshore Gaming Operations oversees the crackdown on illegal POGOs and IGLs (Philippine Offshore Gaming Operators and Internet Gaming Licensees) and other offshore gaming operators. Its main task is to investigate linked illegal activities and prosecute violators, among others.

Meanwhile, the TWG on Employment Recovery and Reintegration focuses on mitigating the ban’s effects on impacted industries through upskilling and reskilling programs to help displaced workers shift to better jobs.

One of the first actions that came out of the order was the deportation of illegal POGO workers, facilitated by the Bureau of Immigration and the Presidential Anti-Organized Crime Commission (PAOCC).

On Sunday, Dec. 15, the Philippine Amusement and Gaming Corp. (PAGCOR) officially canceled all licenses for POGOs.

Does all this mean we can rest easy, knowing that something has been decisively done about POGOs? Certainly not.

Listening to the news on the congressional hearings in the past few months, Filipinos have gotten a sense of the depth and magnitude of the illicit and illegal activities surrounding POGOs.

POGOs and IGLs have turned our country into a breeding ground for criminal activities. Among these are transnational crime, human trafficking, prostitution, and money laundering, among others.

POGO facilities have also been found near military bases. Consider this along with the discovery of uniforms of the People’s Liberation Army (PLA) in some POGO compounds, and it is not a stretch to conclude that there is espionage going on as well. Our fears of having our country’s defense capabilities compromised and our national security breached would not be unfounded. This is a monumental threat to our peace and order.

The POGO issue exposes the weaknesses and vulnerabilities of our systems, starting from some Filipino officials who style themselves as public servants but who in fact use their power to pave the way for the entry of foreign elements, all to serve their own selfish interests. In doing so, they put our nation’s well-being in danger and tarnish our reputation at a time when we are seeking investments to drive the growth and development of our economy. More importantly, these faux public servants put our national sovereignty at risk.

We must not allow these politicians to achieve their aims under the guise of public service. In the spirit of the upcoming elections, public opinion is a powerful force shaping the direction of our country. Filipinos must vote wisely for candidates who will defend the Philippines’ interests.

The coming elections in May 2025 should give Filipinos the opportunity to take a decisive position against pro-China candidates. Imagine, if these were to be given the chance to hold office, they would again use the advantages of their position to facilitate the entry and stay of other countries’ interests that are detrimental to our own.

Thus far, survey figures appear encouraging in this respect. Seven out of 10 Filipinos will not support pro-China candidates in the 2025 national elections, according to the latest Pulse Asia survey, commissioned by the Stratbase Group. This prevailing view is driven by both patriotic sentiment and a desire for leaders who will prioritize the Philippines’ long-term security and prosperity.

This is congruous with another Pulse Asia survey, also commissioned by Stratbase, in September. It revealed that 99% of Filipinos express distrust toward China. This reflects the strong desire of the Filipino people to resist foreign influence and stand firm in defense of our sovereignty.

But the elections are not the only way we can protect our country from POGOs and similar attempts. Outside of the polling booth, we can address our vulnerability to foreign syndicates and corrupt officials in collaboration with the honest and genuine elements in government, the private sector, civil society, and our fellow citizens.

For example, we can start imagining the many ways in which POGOs can scheme to morph themselves into new entities, or hide behind legitimate ones, in order to circumvent the directives banning them.

We also have to demand proof that such policies are being enforced justly, efficiently, and consistently so we can prevent syndicates and individuals from exploiting blind spots and bending laws in their favor.

Aside from strict policy implementation, we should also follow through relentlessly in prosecuting and holding personalities accountable.

Equally critical is the need to help the victims of human trafficking and unemployment.

The government, along with the private sector, and the wider international community and civil society, must work together and remain keen in making the Philippines conducive to investments and safe for all.

Finally, it is important to strengthen international networks and regional cooperation. Merely declaring that we are getting rid of POGOs is not enough, and the battle to make good on this pledge is an ongoing one.

Let us make sure they never return, even in another shape or form.

 

Victor Andres “Dindo” C. Manhit is the president of the Stratbase ADR Institute.

New section of Emperor Nero’s Golden House reopens

ITALIA.IT

ROME — A section of Ancient Roman Emperor Nero’s vast underground Domus Aurea (Golden House) was reopened to the public on Friday after extensive restoration and repair work to protect the nearly 2,000-year-old site from water damage.

The inauguration came as Rome is preparing for an influx of tourists during the 2025 Roman Catholic Holy Year, or Jubilee, during which the Eternal City expects as many as 32 million arrivals.

Visitors to Nero’s palace will be welcomed through a new entrance on the western side, leading to a wide hall known as the “Neronian portico” and then to rooms still bearing traces of their original colorful frescoes, mosaics, and marbles.

The spectacular residence was built in 64 AD after a great fire destroyed most of what was then central Rome, the one through which Nero infamously, and probably apocryphally, is said to have fiddled.

It was rediscovered in the 15th century, and Renaissance painters including Raphael and Michelangelo would study its frescoes by lowering themselves on ropes through holes made in the ceiling, still visible today.

One room that reopened on Friday includes graffiti by one of these artists, Pinturicchio, who scribbled his name as “Pintorichio.” Back in his time, someone added the word “Sodomito,” a homophobic insult that survives to this day.

Another area, the Nymphaeum, features a vault decorated with seashells and a central mosaic showing Ulysses offering wine to Polyphemus, the one-eyed monster from Greek mythology cited in The Odyssey.

Nero’s palace was named after the gold leaf covering some of its walls, and was part of a complex that once included an artificial lake where the Colosseum now stands. It is said to have contained a 120-foot (36.6 meter) statue of the emperor.

The ruins now lie below a park next to the Colosseum. They survived because they were covered up and filled with rubble to serve as the foundation of baths built by the later Emperor Trajan.

Conservation authorities, however, face a constant battle with water infiltration from the ground above the palace, a problem that has led to repeated and prolonged closures of the monument over the past decades. — Reuters

Pru Life UK launches new income fund

PRU LIFE Insurance Corp. of UK Philippines (Pru Life UK) has launched a fund that invests in global bonds and equities and offers potential monthly payouts.

PRULink Flexi Income Fund invests in the ATRAM Global Multi Asset Income Feeder Fund, which invests in the JPMorgan Investment Fund-Global Income Fund of JPMorgan Asset Management.

“The PRULink Flexi Income Fund reflects our commitment to helping customers achieve their financial goals through diversified investments from the world’s most respectable companies and income-generating opportunities. With this latest fund that customers can choose with select Pru Life UK insurance products, they can invest globally and earn monthly which will be beneficial for any family needs or even to pursue individual passions,” Pru Life UK Vice-President and Chief Product Officer Garen U. Dee said in a statement on Tuesday.

The potential monthly cash payouts coming from bond interest earnings, equity dividends, and capital growth and based on the number of units held at the time of payout can offer a steady source of income to clients, the insurer said.

Customers may avail of the fund as an add-on to any of these peso-denominated investment-linked life insurance products: PRULink Investor Account Plus, PRUMillionaire, or the limited offer PRUMillion Flex.

“This allows investors with moderate to aggressive investment risk appetite to benefit from a diversified portfolio that spans high-yield and investment-grade bonds, as well as dividend-paying global equities, all expertly managed to maximize earning potential,” Pru Life UK said.

“Customers have the advantage to invest in global markets with Philippine pesos,” it added.

Pru Life UK posted a premium income of P46.19 billion and a net income of P4.36 billion in 2023, data from the Insurance Commission showed. — A.M.C. Sy

Security Bank partners with SMC to offer financing options for BMW

BW FILE PHOTO

SECURITY BANK CORP., through its subsidiary SB Rental Corp., has partnered with San Miguel Corp. (SMC) Asia Car Distributors Corp. (BMW Philippines) to offer BMW cars and motorcycles for leasing.

“This partnership with BMW Philippines will provide our customers an additional payment option to purchase a brand-new BMW unit. Our leasing program also includes insurance and maintenance to make it more convenient for the clients,” Security Bank Assistant Vice-President and Focus Segment Specialist for the Automotive Industry Marian Janine Acosta said in a statement on Tuesday.

Under the partnership, Security Bank may offer BMW cars and motorcycles for leasing with low initial cash outlay and flexible payment terms.

The two companies signed the agreement on Nov. 29.

“Together, Security Bank and BMW Phils. are committed to providing customers with convenient and flexible leasing options for BMW units, including insurance and maintenance, to enhance the overall purchasing experience,” Security Bank said.

Security Bank’s net income rose by 13.58% to P3.01 billion in the third quarter amid higher revenues.

This brought its nine-month net profit to P8.45 billion, up by 11.62% from a year ago.

Its shares went down by P1.30 or 1.51% to close at P85 on Tuesday.

Meanwhile, SMC’s net income increased by 19% to P37.1 billion in the first nine months amid an 11% growth in revenues to P1.2 trillion, driven by higher sales volumes in its power, fuel & oil, food, and spirits businesses.

Its shares closed at P88 apiece on Tuesday, unchanged from the previous day. — Aaron Michael C. Sy

Edtech startup seeks to bridge blockchain knowledge gap

IN THE PHILIPPINES, government agencies are exploring blockchain technologies to improve government transactions and enhance trust in digital services. — PHILSTAR FILE PHOTO

BITSKWELA, a Filipino-led education technology (edtech) startup, recently launched a program designed to bridge the knowledge gap in blockchain technology and cryptocurrencies among students.

“While students showed increasing curiosity and enthusiasm about blockchain, many still lack the hands-on experience needed to fully understand its tools and practical use cases,” Andrea Pilapil, head of the program called Blockchain Student Alliance (BSA), said in a statement.

“Blockchain education is often confined to conceptual knowledge, and there’s a pressing need to bridge that gap with practical and project-based learning,” she added.

According to Ms. Pilapil, the insufficient knowledge about the practical usage of blockchain in different fields, like supply chains, healthcare, and voting systems, is caused by the lack of access to blockchain education among non-technology students.

Through Sonic University, an educational program by EVM layer-1 platform and blockchain innovation leader Sonic Labs, the BSA aims to equip students with practical skills and empower the youth to explore opportunities and careers in the blockchain industry.

The BSA and Bitskwela conducted workshops from October to November with more than 500 students across various universities nationwide to help combat the lack of information on the said technology.

“Learning this technology can be better integrated through introductory courses in fields like business, economics, and computer science, along with practical, project-based learning to help students gain hands-on experience in building blockchain solutions,” Ms. Pilapil said.

“Interdisciplinary programs should also explore its use in industries such as healthcare, finance, and supply chain,” she added.

In the Philippines, government agencies are exploring blockchain technologies to improve government transactions and enhance trust in digital services.

The Department of Budget and Management, for one, utilizes the minimum viable product (MVP) of Prismo, a hybrid private-public blockchain technology.

On its website, Prismo said this MVP highlights the “potential and effectiveness” of the technology in real-life scenarios.

In addition, the Department of Information and Communications Technology launched eGovChain, a blockchain platform of a “government decentralized, distributed ledger technology that securely records transactions.”

It added that eGovChain helps ensure that all transactions of governmental processes are “immutable and verifiable.”

“Through eGovChain, government agencies can streamline operations, reduce fraud, and improve trust with the public by providing a secure and transparent record-keeping system,” the department said.

In 2025, Bitskwela plans to continue its BSA tour and host more hands-on workshops and interactive activities to further expose and connect the students with the blockchain ecosystem and industry leaders. — Almira Louise S. Martinez

PBBM delivers over P50-million financial aid, services to calamity-hit Albay farmers, fisherfolk

Tuloy-tuloy ang Pagtugon, Pagbangon, at Paghanda

President Ferdinand R. Marcos, Jr., on Wednesday, distributed more than P50 million in financial assistance and government services to farmers and fisherfolk affected by calamities in Albay. In his speech at the Ibalong Centrum for Recreation (ICR) in Legazpi City, President Marcos said the Office of the President (OP) allocated P50 million in financial aid for three cities and 15 municipalities of Albay.

 


Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

Another pandemic is inevitable, and we’re not ready

FREEPIK

EVERY WEEK or so, scientists issue another warning that the H5N1 bird flu is inching closer to exploding into a pandemic. Despite having contended with a pandemic that broke out less than five years ago, the US has no solid plan to handle a new one — nor have our leaders done anything to incorporate the lessons learned from the government’s less-than-ideal handling of COVID-19.

Too many Americans died from COVID because the public health community took too long to issue warnings, was slow to create tests to assess the situation, and was sluggish in shifting its response to fit the data on airborne transmission. The much-criticized lockdowns could have been less disruptive and saved more lives had they been periodically adjusted as data changed on who was most at risk and which activities were riskiest.

Already, some of the same mistakes can be seen in the response to H5N1, which started in poultry before a new variant began infecting the nation’s dairy cows. The US Department of Agriculture announced last week that it would start sampling the nation’s milk supply to test for the virus. California instituted a recall of some raw milk and raw milk products after samples tested positive. But there’s a lot more that could be done to reduce the odds of this situation leading to a pandemic.

Moreover, President-elect Donald Trump’s picks to lead the nation’s top public health agencies — the officials who would be in charge of any pandemic response — have prompted concerns among scientists and health experts. They include Robert F. Kennedy, Jr., a vaccine skeptic and raw milk enthusiast, for the top job of secretary of the Department of Health and Human Services. He also has ties to the California producer whose farm was the subject of the state’s recall after several batches of raw milk products tested positive for the virus. The farmer told Politico he’s been asked to apply for the position of “raw milk adviser” at the Food and Drug Administration (FDA).

Trump’s pick to run the Centers for Disease Control and Prevention (CDC), former Representative Dave Weldon, pushed false theories about childhood vaccines as a member of Congress and was a critic of the CDC and its vaccine program. And to lead the National Institutes of Health, Trump has named Jay Bhattacharya, author of the Great Barrington Declaration, which criticized the government’s COVID response and promoted the theory — based on bad science — that the pandemic would end quickly through herd immunity. Marty Makary, who Trump picked to head the FDA, promoted the same notion of herd immunity as he promised that even without vaccination, COVID would disappear in several months.

We likely won’t know how these officials might handle the next crisis until their Senate confirmation hearings early next year.

There have been periodic outbreaks of H5N1, commonly called the bird flu, in the domestic bird population since the mid-1990s. But while fewer than 1,000 people worldwide have tested positive for the virus since then, scientists are alarmed because it killed half of those known to be infected. In 2022, the virus started showing up in mammals — foxes, bears, raccoons, sea lions, porpoises, and minks — and then, in March of this year, in US dairy cows. Millions of US chickens have been euthanized to control outbreaks in flocks of poultry, and in October, officials confirmed that the virus had been found in a pig here for the first time.

In a study of supermarket milk last April, virus fragments appeared in 58 out of 150 samples. Scientists who conducted the study said heat from pasteurization would kill the virus. But raw milk from infected cows is swarming with live virus — enough to kill barn cats that have lapped up splatters.

At least 60 confirmed human cases of bird flu have been reported in the US this year, including two in Arizona. Most have been farm workers who had contact with livestock or poultry, and their symptoms were mild. More worrisome are the few cases whose origin remains a mystery, including a teen in British Columbia who was hospitalized with a mutated version of the virus and a California child who was diagnosed with moderate symptoms in November. There have been no confirmed cases of person-to-person transmission.

“In my opinion, it is a matter of time before we start to see documented human-to-human transmission of this virus… because we’re continuing to let this virus infect humans and adapt to people,” said Seema Lakdawala, an immunologist at Emory University School of Medicine.

To decrease that likelihood, she says efforts should focus on minimizing outbreaks among cattle. That means not just monitoring some milk samples but identifying individual infected cows and ensuring they are isolated and their milk disposed of safely so that it doesn’t make its way into irrigation water where it could infect other animals. She said that even if those cows aren’t killed, just isolating them could prevent further spread.

Each new infection allows the virus to make millions of slightly mutated copies, increasing the odds that one will acquire the ability to easily jump from person to person. A study published recently in Science showed that the variant currently spreading through hundreds of herds needs only a single mutation to gain the ability to attach to receptors on human cells.

Much remains unknown, including why bird flu hasn’t started a pandemic. But there will be another pandemic at some point, said Michael Osterholm, an epidemiologist who has advised every president since Ronald Reagan and is now director of the University of Minnesota’s Center for Infectious Disease Research and Policy. “The pandemic clock is ticking. We just don’t know what time it is,” he said.

Osterholm has investigated Ebola, Zika, and other deadly viruses. Still, coronaviruses and influenza are by far the most likely to blow up into global pandemics because they are easily transmitted through the air.

That means we should plan for the possibility — before it happens. And we need something more detailed than the National Security Council playbook drawn up during the Obama administration and famously ignored by Trump. It outlined organizing an initial pandemic response, such as connecting political leaders with scientific experts. But it didn’t include details for things like shutdowns, mask mandates, or other measures taken during COVID. Osterholm said drafting a new plan should begin with a bipartisan investigation into how COVID-19 was handled — like the 9/11 commission. “Not to point fingers,” he told me, but to prepare for next time.

A new playbook should also consider long-term sustainability. Osterholm said data available in spring 2020 showed COVID was so easily transmissible that the pandemic could drag on for years. And yet, nobody wanted to hear it.

He argues that the US and China could have saved many more lives with short-term, data-driven closures of restaurants and other high-risk settings when cases were rising. That strategy could have been sustained as long as the threat persisted. In China, which lifted its strict three-year-long zero-COVID lockdown before the threat had ebbed, the CDC estimates 1.4 million people died in the first three months the restrictions were eased.

A new preparedness plan should also include more protection for essential workers and their families. During 2020, many people with known risk factors or elderly relatives at home were thrown into dangerous work situations.

The US endured waves of deaths in the winter of 2020-2021 when many Americans could no longer tolerate staying in their homes. Sustainability would matter even more if the next pandemic had a higher fatality rate.

While it’s often repeated that more than a million Americans died, we lack an analysis of how they got infected and how they were in harm’s way. It wasn’t about bad behavior but inadequate policy. Good policy is designed to work for human beings the way we are. With COVID, it was all created on the fly. It doesn’t have to be that way next time.

BLOOMBERG OPINION