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Apple says delayed HomePod connected speaker ready to go

SAN FRANCISCO — Apple said on Jan. 24 its HomePod speaker, the digital assistant device challenging rivals from Amazon and Google, was now ready after a delay of several months.

HomePod, which missed the key holiday shopping season in the fast-growing market for connected speakers, will be available for pre-order Jan. 27 (PHT) and in stores Feb. 9 in the US, Britain and Australia.

A statement said it would hit markets in France and Germany “this spring.”

Apple is arriving late to a market dominated by Amazon’s Alexa-powered devices and to a lesser degree Google Home, which includes voice-activated devices that can answer questions and be a smart home hub.

The iPhone maker however is seeking to position HomePod, powered by its Siri digital assistant, as a high-end device designed for music as well as other services. It starts at $349, making it more expensive than most competing speakers.

“HomePod is a magical new music experience from Apple,” said Philip Schiller, Apple’s senior vice-president of marketing.

“It brings advanced audio technologies like beam-forming tweeters, a high-excursion woofer and automatic spatial awareness, together with the entire Apple Music catalog and the latest Siri intelligence, in a simple, beautiful design that is so much fun to use.”

While Amazon and Google have released no specific sales figures, private surveys indicate Amazon has grabbed the lion’s share of the market with Google a distant second.

The market is also seeing new devices powered by Microsoft’s digital assistant Cortana and Samsung is set to launch devices with its Bixby assistant. — AFP

Meralco Bolts snap losing skid

THE Meralco Bolts halted their losing skid in the PBA Philippine Cup yesterday, defeating the Kia Picanto, 105-76, in their battle of struggling teams at the Smart Araneta Coliseum.

Using a strong surge in the second period, the Bolts created a considerable distance and stayed dominant the rest of the way to stop a three-game losing streak and improve to 2-3 in the season-opening Philippine Basketball Association (PBA) tournament.

The contest got off to a competitive start, with both teams making hay in the opening quarter.

Following a frenetic sequence of runs and counterruns, the Bolts would take the first frame, 27-21.

Meralco would crank things up to start the second canto, going on a 12-2 blast in the first four minutes to extend its lead to 16 points, 39-23.

Rashawn McCarthy and Mark Yee tried to rally back the Picanto but the Bolts would hold their ground and maintain control by the halftime break, 60-41.

In the third period, the two teams struggled to get their offensive game going, allowing the Bolts to continue holding sway and even adding to their lead, 79-58, by the end of the third canto.

Buried deep to start the payoff period, Kia tried to give its cause some spark.

Like much of the preceding periods though, the Bolts hardly lost step and rhythm, countering en route to coasting to the win, and sending the Picanto (1-5) to another loss after winning in their previous game.

Niño Canaleta showed the way for Meralco with 17 points and six rebounds.

Jared Dillinger had 13 while Anjo Caram finished with 12 points.

Messrs. McCarthy and Yee led Kia with 17 and 14 points, respectively.

“It was nice to see the players show up with more energy and played with more purpose especially on the defensive end. It is something we have been working on. Hopefully we get to sustain it in our next games. Overall, it was a good team effort,” said winning coach Norman Black after the game.

Meralco next plays on Sunday, Jan. 28, against the GlobalPort Batang Pier while Kia faces off with the TNT KaTropa on Wednesday, Jan. 31. — Michael Angelo S. Murillo

The Merits of Index Fund Investing

Whenever friends or students ask for advice about investing in the stock market, I always point to pooled funds as the preferred entry strategy for investing in assets that they may not be familiar with. Pooled funds allow the investor to take advantage of many benefits. Professional management will take care of the burden of selecting, monitoring, and trading securities. Diversification will reduce risks as the negative performance of one asset may be offset by the positive performance of another. Economies of scale are achieved as costs of transactions are shared among investors. Pooled funds can easily be bought and sold as needed. Finally, the minimum investment requirement is not so high.

But wait; as the sales pitch goes, it gets even better.

Modern portfolio theory has provided a good justification for adapting a passive investment policy that avoids security analysis. This strategy is called indexing. A passive strategy is based on the premise that securities are fairly priced and there is no need to scrutinize many stocks. One can simply select a diversified portfolio of common stocks that mirror the corporate sector of the broad economy. The investor chooses a portfolio with all the stocks in the broad market index such as the Phisix. The rate of return on the portfolio then replicates the return of the market.

In the US, more money today is invested in the passive way than in the active way. A recent The Economist article has, however, cited objections to this emerging trend. One argument is that indexing is bad for capitalism. A key role of financial markets is to allocate capital to the most efficient companies, but index funds fail to do this. Also, index funds pose a threat to competition. The asset management market used to be active and diverse, but if more fund managers take the passive approach, this can lead to the demise of a promising industry. But The Economist’s Buttonwood argues as follows, “Yes, if the market was 100% owned by index funds, that would be a problem. And if there were no crime, policemen would be out of work. But we are nowhere near that point.”

Most modern finance textbooks will argue that it is very difficult to devise supposedly superior investment strategies that beat the market. Yes, there will be rewards to especially diligent, intelligent, active investors who are able to trade at the onset of new information, but this is more the exception than the rule. A number of studies covering the performance record of professional active managers show it is possible, but difficult, to beat the market. And if all this empirical evidence is credible, there is indeed value in a passive index investing approach. So, to my friends and to anybody who cares to listen, I still say the index fund investing strategy makes good sense.

This indexing strategy appears to be naïve and perhaps even lazy.

However, in a truly competitive market, the forces of demand and supply will guide security prices to levels at which further analysis is unlikely to produce significant profit opportunities. The financial market is efficient if it provides funds at fair prices. A price is fair if investors will have equal access to all material information about risks and returns of the asset. Efficiency ensures that market players receive all price-sensitive information, and it will be very difficult to outdo each other.

A passive strategy based on index investing is worth considering, especially by new entrants to the equity investment world. Compared with the active strategy, the costs and effort are much less. It also provides free-rider benefits. Assuming many active investors are buying undervalued stocks and selling overvalued ones, the assets will be fairly priced most of the time. Thus, a well-diversified portfolio shown in the index is a reasonable investment. If we believe the overall Philippine market is following an upward trend, investing in the index fund is a winning formula.

The caveat to this strategy is that it relies so much on the assumption that the market is information-efficient. Many observers still believe, and understandably so, that certain parties in the Philippine market have better access to new information than the average investor. Thus, some quarters unsurprisingly achieve abnormal returns due to this distinct and unfair advantage. The thinking investor must be aware of this downside.

The views expressed here are his own and do not necessarily reflect the opinion of his office or of the faculty and administration of DLSU.

 

Benel D. Lagua is Executive Vice-President at the Development Bank of the Philippines. With an AIM-MBM and a Harvard-MPA, he is a part-time faculty of the Ramon V. Del Rosario College of Business of De La Salle University.

benellagua@alumni.ksg.harvard.edu

The Shape of Water scores big with 13 Oscar nominations

LOS ANGELES — Fantasy romance The Shape of Water topped the Oscars nominations list on Tuesday with 13 nods, one shy of the record, as the Academy also gave a rare nomination to a woman in the directing category.

In second place was tense World War II epic Dunkirk, with eight nods, while crime drama Three Billboards Outside Ebbing, Missouri, generally thought to be the favorite in the best picture category, picked up seven nominations.

But The Shape of Water, Guillermo del Toro’s Cold War-set story of love between a mute cleaning woman and a mystery merman-like creature, dominated the competition.

It scored nods for best picture, best director, and best actress for its star Sally Hawkins.

Richard Jenkins and Octavia Spencer each scored nominations in the supporting acting categories, and the film was also nominated for best original screenplay, with the rest of its nods coming in technical categories.

The haul fell one short of the record for most nominations ever, held jointly by La La Land, Titanic, and All About Eve.

“This nomination is for every one of us who brought our hearts to this film,” Hawkins said in a statement retweeted by the movie’s official Twitter account.

“I’m here because of the greatness of others. I stand on the shoulders of giants.”

The 90th Academy Awards — the climax of Hollywood’s awards season, to be hosted by late night funnyman Jimmy Kimmel — will be held on March 4.

Organizers will be looking to rebound after last year’s flubbed announcement of the best picture winner — the trophy was initially given to La La Land, when the actual winner was Moonlight.

WOMEN FILMMAKERS RECOGNIZED
In a departure from previous years, there are very few clear frontrunners, making the race far more interesting.

With the #MeToo and Time’s Up campaigns against sexual misconduct and gender inequality dominating the 2018 awards circuit, the Oscars announcement was seen as an opportunity for the industry to support female filmmaking — snubbed at the Golden Globes.

The Academy of Motion Picture Arts and Sciences will be seen as having righted that wrong to some degree, with its nod for Greta Gerwig, the director of Lady Bird.

Before Tuesday, just four women had been nominated for best director since 1927.

In the best director category, Gerwig and Del Toro take on Christopher Nolan (Dunkirk), Jordan Peele (Get Out), and Paul Thomas Anderson (Phantom Thread).

There was also the first nod for a female cinematographer, Rachel Morrison, who shot Dee Rees’s racial drama Mudbound.

Gerwig recently told Variety she was “heartened” by “the number of women who are making really interesting films and the desire to shine a spotlight on them.”

STREEP, DAY-LEWIS IN THE HUNT
The Shape of Water will vie for best picture honors with eight other films, including Dunkirk, Three Billboards, coming-of-age movies Call Me By Your Name and Lady Bird, and Winston Churchill saga Darkest Hour.

Others in the coveted top category are dark satire Get Out, Daniel Day-Lewis’s apparent final film Phantom Thread — he has announced his retirement — and Pentagon Papers thriller The Post.

Three Billboards — buoyed by strong showings at the Golden Globes and Screen Actors Guild Awards — remains in pole position for the top prize, according to the Gold Derby awards prediction website.

For best actor, Day-Lewis will battle for a golden statuette with Timothee Chalamet (Call Me by Your Name), Daniel Kaluuya (Get Out), Gary Oldman (Darkest Hour) and Denzel Washington (Roman J. Israel, Esq.).

“I’m walking around in a daze. I’m so proud of Team Get Out. What a ride. What an experience. What a year. What a team. I’m so happy and proud of King Peele,” Kaluuya said in a statement to Entertainment Weekly.

In the best actress category, Hawkins has competition from Frances McDormand (Three Billboards), Margot Robbie (I, Tonya), Saoirse Ronan (Lady Bird), and Meryl Streep (The Post), who notched her record 21st nomination.

Best supporting actor pits Jenkins against Christopher Plummer, a last-minute stand-in for Kevin Spacey, who was dropped from All the Money in the World after being accused of numerous cases of sexual misconduct.

The other nominees were Willem Dafoe (The Florida Project), Woody Harrelson and Sam Rockwell (both Three Billboards).

The Oscars cap a difficult few months for the film industry, which has faced widespread allegations of sexual harassment and assault, sparking a period of soul-searching that has cast a shadow over the normally joyous awards season.

A flood of allegations since October have led to the downfall of numerous powerful figures including Harvey Weinstein, Jeffrey Tambor, and Brett Ratner.

James Franco (The Disaster Artist), a popular contender for best actor, joined Spacey in seeing his Oscar hopes shot down in flames after becoming tainted by scandal. — AFP

Capiz 2018 infrastructure budget slashed

THE 1ST District Engineering Office in Capiz has suffered a substantial slash in their budget for 2018. Department of Public Works and Highways (DPWH-Western Visayas) Regional Director Wenceslao M. Leaño Jr. said that from the roughly P1.6 billion received by the district office in 2017, this year’s budget did not even reach P100 million. “They have a budget of P5 million plus another P30 million that is lodged at the regional office. I’m not sure about the (exact) figure but the reduction was very substantial considering that they had more than P1 billion budget last year,” he said. District Engineer Gerald A. Pacanan confirmed the huge cut saying, “There was a P30 million slash in the budget which was supposedly posted in the Web site of the Department of Budget and Management. But after the printing, it was excluded.” Both officials declined to comment whether politics could be behind the limited budget. Mr. Pacanan said budgeting is a political exercise and so he leaves it to the politicians to explain this year’s allocation. The province’s 1st Engineering Office is under Rep. Emmanuel A. Billones who is a member of the opposition Liberal Party. — Louine Hope U. Conserva

Oscars nominations: all the fun facts

LOS ANGELES — The nominations for the 90th Oscars were announced Tuesday, with The Shape of Water, Dunkirk, and Three Billboards Outside Ebbing, Missouri leading the pack. But the statistical quirks that the annual event throws up can be as intriguing as tracking which movies get the most nods.

Here are some fun facts and figures from this year’s list of nominees:

• Female filmmakers recognized.

The 7,000-plus voters of the Academy of Motion Picture Arts and Sciences managed to remember this year that women make movies too.

Greta Gerwig, recognized for Lady Bird, is only the fifth female best director nominee, and the first since Kathryn Bigelow won for The Hurt Locker in 2010.

Rachel Morrison, the director of photography on Mudbound, is the first woman to receive a nomination for cinematography.

• Long live Queen Meryl. Meryl Streep increases her lead as the most nominated performer in history with her 21st nod for Steven Spielberg’s The Post.

Her three wins were for Kramer vs. Kramer (1979), Sophie’s Choice (1982), and The Iron Lady (2011).

• All hail the maestro. John Williams adds to his record number of music scoring nominations with his 46th for Star Wars: The Last Jedi.

His overall total of 51 nominations — including five for original song — is the most for any living person, and second only to Walt Disney at 59.

• Kobe Bryant: Oscars MVP? Basketballer Kobe Bryant, an 18-time NBA all-star, is an Oscar nominee thanks to his collaboration with artist Glen Keane and composer John Williams for the short Dear Basketball.

“What?? This is beyond the realm of imagination,” Bryant, 39, tweeted following the announcement.

But not everyone will be delighted with the nod.

In the wake of the Harvey Weinstein scandal, it will be a reminder that the Los Angeles Lakers legend was arrested over the suspected rape of a hotel worker in Colorado in 2003. Bryant admitted to a sexual encounter, but insisted it was consensual. The criminal case was dropped when the accuser refused to testify, but Bryant faced a civil suit. As part of an out-of-court settlement, he publicly apologized to his accuser, but admitted no guilt.

• Snubs and surprises. Among this year’s big snubs were Golden Globes nominees Armie Hammer (Call Me by Your Name) and Hong Chau (Downsizing), as well as Wonder Woman, which didn’t get a single nomination.

Mudbound and The Big Sick were conspicuously absent from the best picture category, though they received other nominations.

Steven Spielberg (The Post) and Martin McDonagh (Three Billboards) were both left out of the best director category, despite helming two of the most acclaimed movies of the year.

On the other side of the coin, Denzel Washington picked up a surprise 8th nomination for acting, expanding his own record as the most-nominated black actor in Oscars history. He has won twice, for Glory and Training Day.

Washington also has a nomination for best picture for Fences, which he directed and co-produced. — AFP

Weak demand of iPhone X to hurt Sony — JPMorgan

SONY CORP.’s lucrative smartphone camera business may be heading for a slowdown.

The Tokyo-based company’s image sensor business is likely to weaken amid slowing momentum for Apple, Inc.’s iPhones, an analyst at JPMorgan Chase & Co. wrote as he downgraded the company to neutral from overweight. IPhone X production will probably fall 50% quarter over quarter and the weakness is likely to continue for the first half of the year as demand for high-end smartphones plateaus, according to J.J. Park. Sony shares fell as much as 5.2% by midday in Tokyo.

Sony is the global leader in the production of image sensors, camera chips which convert light into digital pictures and videos. Despite a cooling in the smartphone industry, it has benefited from a trend to include multiple image sensors in each phone — a technique used to create better-looking pictures and to power simple augmented-reality functions. In October, Sony raised its profit forecast for the current fiscal year in part because of sensor demand, and shares have rallied more than 60% over the last year.

Weak demand for the new iPhone X will hurt Sony, which gets half of its image sensor revenue from Apple, Mr. Park wrote. He also said the trend for adopting dual cameras is not as strong as first believed, including among Chinese phone makers, which will further hit Sony’s sales.

“Given high market expectation, in our view any shortfall in the semiconductor operation will put pressure on the share price,” Mr. Park wrote. Sony declined to comment on JPMorgan’s report.

Customers seemed to be opting for cheaper models of the iPhone, according to Cowen & Co., which suggested that Apple failed to cram enough new technology into the iPhone X to justify its $999 price tag.

Phone makers such as Apple and Xiaomi Corp. have been outfitting their latest models with two cameras on the back of each device, and in some cases on the front. That lets software compare two pictures to improve photo quality and gauge depth to perform basic AR functions.

But JPMorgan’s Mr. Park suggested consumers are shunning better picture quality for a cheaper price, saying that “high-end smartphones are clearly hitting a plateau along with higher product prices.” He said Sony has a 70% market share for high-end image sensors and is one of the few Apple suppliers whose shares have yet to adjust to waning demand for iPhone X.

“Despite a correction in Apple supply chain names, Sony has massively outperformed its global peers thanks to the structural trend of dual-cam,” Mr. Park. — Bloomberg

EasyCall seeks to comply with public float rule

EASYCALL Communications Philippines, Inc. (ECP) will be offering more shares to the public in line with the new minimum public ownership (MPO) requirements set by the Securities and Exchange Commission (SEC).

In a disclosure to the stock exchange on Wednesday, the company said its majority shareholder, TDG Ventures, Inc. (TVI), will be reducing its ownership in the company.

“TVI… has expressed its intent to reduce some of its shareholdings through the market in support of ECP’s compliance to the MPO that the SEC may impose,” the company said.

Data from the PSE showed ECP currently has a float of 10.06%, falling short of the 20% floor the required by the corporate regulator.

The SEC last November 2017 released new guidelines for companies looking to list their shares in the Philippine Stock Exchange, doubling the 10% MPO implemented since 2011 to 20%. This move is in line with improving liquidity in the market.

ECP is one of the 68 listed companies the SEC said would have to raise their MPO as a result of the new requirement. The commission is still studying the guidelines on how these firms can go about their re-IPO (initial public offering) or follow-on offerings.

Noncompliance with revised MPO could serve as ground for a possible delisting. For instance, PNOC-Exploration Corp. was involuntarily delisted from the PSE in 2013 after it failed to comply with the 10% MPO the SEC implemented in 2011.

Incorporated in 1989, ECP’s business involves corporate DSL resellership, Internet services, Web business solutions, and server co-location. The company also targets businesses unreachable by fiber optic cables, providing them with IP broadband solutions.

ECP realized a 60% increase in its net income attributable to the parent during the first nine months of 2017 to P5.36 million, following an 8% rise in revenues during the same period to P37.05 million.

Shares in ECP dropped P7.95 or 13.26% to P52 each at the Philippine Stock Exchange on Wednesday. — Arra B. Francia

Davao, Marawi eye sisterhood agreement

THE CITIES of Davao and Marawi are eyeing a sisterhood agreement wherein the former would commit to “extend technical assistance to Marawi in the fields of infrastructure development, urban planning, disaster management, and other expertise that may support for its rehabilitation,” according to the Davao City Investment Promotion Center. As this developed, the Davao City administration has asked the local legislative council to approve another P5-million assistance for Marawi’s recovery efforts. Last year, Davao released an initial P5-million aid following the five-month armed conflict between government forces and Islamic State-inspired local groups. “It is within our duty as elected officials to help other cities who are in need of our help,” Davao Mayor Sara Duterte-Carpio said in a statement. The Mindanao Development Authority (MinDA) also earlier urged the government to look into Shariah-compliant funding mechanisms such as Islamic microfinancing for both businesses and communities in Marawi as part of the rehabilitation program. — Carmelito Q. Francisco

Thai’s Thaugsuban indicted on terrorism, treason

BANGKOK — The firebrand leader of anti-government protests that presaged Thailand’s 2014 military coup was indicted on treason and terrorism charges on Wednesday linked to the deadly demonstrations. Suthep Thaugsuban, whose protest movement paralyzed Bangkok for months and led to the toppling of the elected government in May 2014, was formally charged alongside eight other Democrat party politicians. The protests against former premier Yingluck Shinawatra were marred by violence that left 28 dead, generating unrest the army said warranted its power grab — the 12th successful takeover since 1932. Suthep, a former deputy prime minister and nemesis of the billionaire Shinawatra clan, gave barnstorming speeches across Bangkok, leading daily marches in a self-proclaimed “shutdown” of one of Southeast Asia’s largest cities which lasted for weeks while armed guards patrolled protests sites. The military dispersed the rallies after toppling Yingluck and has run the country ever since. Suthep and eight other Democrat politicians — a faction seen as aligned with the army — were charged with “treason, illegal gathering, and incitement,” said the state prosecutor’s deputy spokesman Prayut Petkhun. Suthep and Chumpon Julsai, a former Democrat MP, were also charged with terrorism, he told reporters. The case comes as the kingdom’s rancorous political scene — which has been dormant since the coup — stirs back to life ahead of elections slated for late 2018, but whose timeframe keeps slipping. — AFP

Rethinking the Urban Development and Housing Act of 1992

Last year marked the 25th year of the Urban Development and Housing Act (UDHA). Enacted in 1992, the UDHA brought the hope of realizing a socially just, pro-poor urban development, particularly in addressing the issues concerning urban housing.

The final piece of social legislation of the first Aquino regime contained stipulations that not only addresses the immediate concerns of urban development and housing, but also — and perhaps more importantly — puts emphasis on people’s participation and empowerment. The UDHA as such held the promise of deepening democracy — construed as serving the twin goals of social justice, and popular empowerment — in the context of urban development.

Two decades hence, however, and the country continues to experience fundamental issues that concern urban development, particularly on urban housing. The Kadamay situation of last year is symptomatic of how unequal urban development has been in the Philippines, as well as how the policies in place have been failing in addressing such.

For all its potentials, the UDHA has been beset by ineffectiveness, reflected by the chronic housing backlogs, the continuing human rights violations of evictees and resettled peoples, and creeping inadequacies of socialized housing programs. Why has this been so?

Admittedly limited in scope and range, and by no means a thorough evaluation of the UDHA, this piece argues that the explanation for UDHA’s failure lies in the contradictions of the law itself.

The UDHA is technically not an urban land reform policy, embedded as it is in the “enablement” model of urban development.

The UDHA is primarily a product of the lobbying efforts of the organized urban poor. The opening up of the “democratic space” in the wake of the 1986 EDSA Revolution paved the way for the increased participation of such groups in the (formal) political realm, in the process empowering them. The 1987 Constitution itself, in Article XIII, Sections 9 and 10, enabled the UDHA’s enactment.

The UDHA thus contains stipulations that provide for a socially just, pro-poor urban development.

First, the law contains stipulations governing evictions and resettlement of informal settler families, safeguarding their rights through the provision of consultative mechanisms in all phases of the relocation process.

Second, the UDHA stipulates strategies for low-cost, pro-poor housing. The key element in such strategies is participation of both the private sector, and the urban poor communities themselves.

On one hand, the law gives incentives — in the form of rationalized processes, and tax exemptions, among others — to private real estate developers involved in socialized housing projects. On the other, the Community Mortgage Program (CMP) prompts the urban poor communities to organize. Third and last, the UDHA emphasizes community empowerment, and decentralization.

As mentioned above, the law stipulates the participation of urban poor community organizations in the consultative processes prior to eviction and/or resettlement. The CMP’s focus is on organized urban poor communities, as Section 33 of the law points out. Section 39 of the UDHA also stresses the role of the local government units (LGUs) in implementing the law, in coordination with other national government agencies, and other stakeholders.

For all its potentials, however, the UDHA has been continually critiqued for its ineffectiveness.

The housing backlog is currently estimated at 2.02 million, per the report of the Philippine Development Plan 2017-2022. The said document also estimates the national total of informal settler families to 1,502,336, close to 40% of which are in the Metropolitan Manila area.

More importantly, a 2014 report published jointly by the Institute for Popular Democracy (IPD), and the Commission on Human Rights (CHR) titled “Human Rights in the Rubble: A Review of Forced Eviction and Resettlement Law and Practice in Metro Manila” has found a number of weaknesses in the law’s protections for the rights of the poor informal settler families. Questions have also been raised concerning the CMP’s performance. Several research projects on the CMP published by the Philippine Institute for Development Studies (PIDS) pointed out a number of deficiencies in the CMP’s implementation, particularly concerns about the targeting of the beneficiaries and the transformation of communities into improved ones.

The UDHA is also embedded in the principle of “enablement,” which recasts the role of the state in urban development as an “enabler,” rather than that of a “direct provider.” Gavin Shatkin characterizes the said principle as “premised on the belief that governments should dramatically reduce their direct involvement in the delivery of goods and services,” in the process acting “as a facilitator in ‘enabling’ the private sector and civil society to deliver them.” Cedric Pugh points out, however that “enablement was more about reconfiguring state roles into relevant significance and effectiveness, rather than simply reducing the state’s economic allocations to the social sector.”

Nevertheless, the “enablement” principle arguably is reflected in the limited appropriations that has hounded the Philippine urban development and housing landscape.

The 2017 PDP points out that national housing received 0.05-0.11% of the budget for social services in the years 2014 to 2016, while another report points out that for 2017 alone, the combined budgets of the primary national housing agencies (the National Housing Authority [NHA], and the Social Housing Finance Corporation [SHFC]) are a measly 0.39% of the P3.35-trillion budget, targeting 1.7 million households for direct housing assistance.

The “enablement” principle also emphasizes decentralization.

Such contributes to the ineffectiveness of the UDHA in realizing a socially just and pro-poor urban development.

The IPD and CHR report discussed earlier has also found that the decentralized nature of eviction and resettlement policy and processes contribute to services that fall short of the international standards for human rights. As such, the report recommends further integration of the agencies concerned.

However, something more than a review of the law, or the creation of a Department of Urban Development and Housing, is called for.

The fundamental challenges are that of examining the ways by which the state can be strengthened while being embedded in an institutional matrix that reconfigures its role and that of searching the ways by which the contradictory logics of profit making and public service delivery in the context of socialized housing provision can be alleviated.

(For purposes of brevity, citations have been removed but are available upon request. — Ed)

 

Gino Antonio P. Trinidad is currently a Doctor of Public Administration student of the UP National College of Public Administration and Governance (UP NCPAG). He is a member of the faculty of Ateneo’s Political Science Department. He obtained both his MA Global Politics and AB Political Science degrees from Ateneo de Manila University.

Halal accreditation to expand in 2018 to attract more businesses

THE Department of Trade and Industry (DTI) said it wants to increase the Philippines’ 5% share of the growing global market for halal products via the expansion of accreditation bodies that can certify that food, drink and fashion products comply with Islamic rules.

The department hopes to set up 10 halal accreditation bodies this year,to make it easier to attract more businesses to participate in the halal trade.

Assistant Secretary for Trade and Investments Promotion Group Abdulgani M. Macatoman said during the World Halal Assembly last week that the halal market is expected to be worth $10 trillion by 2030, from $3.2 trillion currently.

“The Muslim population worldwide has been steadily growing. In 2016 the population was at 2.14 billion, growing to 2.18 billion in 2017,” he said, adding that in the Asia Pacific, the numbers are 1.3 billion by 2030, according to projections by Pew Research.

He said the most marketable Philippine products are dried fruits in markets like the Middle East and parts of Southeast Asia.

The DTI is seeking to make the Zamboanga region a hub for halal products. The region is deemed suitable for such a push because of the potential of its economic zones and freeports, plus the availability of expertise in the Autonomous Region in Muslim Mindanao, with which the Zamboanga region has some territorial overlap.

“The preparation of halal food and apparel requires a great understanding of and obedience to Muslim culture, and we Filipinos have a great grasp of this culture and unique practices,” he added.

The products identified as having potential for developing in the Zamboanga region are rubber, cacao, mangoes and coconut.

The government has development plans for cacao and rubber, while the fruits and nuts industries will be getting a road map to expand production and export activity. — Anna Gabriela A. Mogato