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Cebu Pacific to launch Davao-Tagbilaran route

CEBU PACIFIC will start operating direct flights between Davao City and Tagbilaran City, Bohol on Oct. 21.

The budget carrier said in a statement that its wholly owned subsidiary, Cebgo, will have four times weekly flights (Tuesdays, Thursday, Saturdays, and Sundays) between Davao and Tagbilaran.

“As part of our efforts to improve the overall customer experience for everyJuan, we have been taking to heart the suggestions and feedback from our guests. We’ve looked at the feasibility of the Davao-Tagbilaran route and are optimistic that this new air link will not only answer the clamor from the local communities, but stimulate trade and tourism in both destinations,” Alexander G. Lao, President and CEO of Cebgo, was quoted as saying in a statement.

Davao serves as the Gokongwei-led airine’s hub in Mindanao. From Davao, Cebu Pacific flies directly to Bacolod, Cagayan de Oro, Cebu, Dumaguete, Iloilo, Manila, Tacloban and Zamboanga, and Singapore.

In July, Cebu Pacific expanded its coverage in Visayas and Mindanao, launching commercial operations of new routes. Cebgo began flying three times weekly between Cebu and Masbate; Zamboanga and Cotabato; and Davao and Dumaguete. Cebgo also started flying four times a week between Cagayan de Oro and Zamboanga; and Davao and Tacloban.

Cebu Pacific in July also began operating evening flights to and from the Dumaguete-Sibulan Airport. It now also operates three additional round-trip flights weekly between Manila and Dumaguete.

Shares for Cebu Air, Inc. remained unchanged on Monday at P112 per share. — Patrizia Paola C. Marcelo

Competing Against Risk: The Challenge for Corporate Governance in the 21st Century

“There is clearly an intense focus on risk today. While risk management has been on the radar — if not a priority — for most companies and boards over the past several years, many are asking whether our current system of corporate governance and strategic decision-making ensures adequate risk assessment and management.”

— National Association of Corporate Directors (NACD)
Blue Ribbon Commission on Risk Governance

The statement above echoes a familiar refrain that we regularly hear today from companies, regulators, investors and the business press. Yet what is surprising is that it was written eight years ago in 2009. Back then, the world was much simpler. Our concept of terrorism involved airline hijackings and shoe bombers, instead of today’s “lone wolf” attackers and ISIS cells. The Y2K threat had passed without a glitch while ransomware was still far into the future. Al Gore’s An Inconvenient Truth had been released 3 years prior and the world was just beginning to wake up to the threat of fossil fuel emissions. Clearly, since then, the risks that we face as businesses (and society as a whole) have multiplied in terms of type, scale, and complexity.

Professor EP Vermeulen of the University of Tilburg has pointed out that the average life-span of an S&P 500 company has dropped from about 60 years in the 1960s to about 20 years today. No doubt, one of the major contributors to this decline has been companies’ inability to cope with emergent risks.

Philippine companies have, for the most part, kept pace with and addressed these growing threats. The 2016 Corporate Governance Survey of publicly listed companies (PLCs) jointly produced by the Good Governance Advocates and Practitioners of the Philippines and Isla Lipana & Co/PwC Philippines, highlighted these accomplishments:

• at least one board member is proficient in the risk management discipline while training in risk management is a top development priority for directors

• 78% of respondents (or 40 PLCs) have adopted and implemented an Enterprise Risk Management (ERM) framework

• 76% of respondents have created a Board Risk Oversight Committee and of these, 82% have independent directors as their chairmen.

Yet the glass is only half-full.

The survey notes that only 41% of respondents consider the display of appropriate risk-taking behavior as a key determinant in director remuneration. Furthermore, when you consider that one-third of survey respondents come from the banking and financial services industries where they are required by regulators to have a separate risk committee with an independent director as chairman, it seems that the remaining nonfinancial companies still have a lot to do. The results also highlight the absence of an ERM framework for 22% of respondents. Considering that all respondents account for 29% of stock market capitalization, it is worrying in the least that some very large firms out there lack a proper framework for addressing risk. And even if these firms have an ERM framework, there remains much to be done in terms of communicating the existence of such frameworks to stakeholders: the survey says that most of the respondents only disclose material risk exposures in required reports to regulators while only two-thirds of them voluntarily use their Web sites to share this information.

The survey ends its discussion on risk with these words: “While a significant fraction of companies have risk management systems in place, the main challenge relevant to this covers the robustness of such systems, and the quality and degree of implementation that influences the Board’s and management’s ability to manage known and emerging risks.”

Clearly, we need to ensure that we are going beyond mere compliance to actually identifying and mitigating the risks that businesses face.

I propose that we need to look at risk in a new way, given the challenges of the 21st century environment. We need to put risks and their management front and center as part of our day-to-day operations. We should always be on the look-out to not only mitigate but even find opportunity to the extent that we are better able to manage and absorb them than others. Remember that risk and reward are two sides of the same coin. If we can do this, we have a better chance of ensuring our company’s short-term profitability and long-term sustainability. This is the ultimate objective of corporate governance.

The first step in competing against risk is to know your enemy.

In this regard, four major business organizations, namely the Financial Executives Institute of the Philippines (FINEX), the Institute of Corporate Directors (ICD), the Institute of Internal Auditors Philippines (IIAP) and the Management Association of the Philippines (M.A.P.) are organizing the 2017 Corporate Governance Conference with the theme of “Competing Against Risk” that will be held on Sept. 26th at the Dusit Thani Hotel in Makati City. For further details, please go to www.icdcenter.org. The whole-day conference features distinguished experts in various types of risks that businesses face today as well as representatives of companies that will share their best practices for dealing with and finding opportunity in these risks.

Specific competitors may come and go but, like death and taxes, our businesses will always face risks. It’s time to give them the proper respect and attention rather than just complying with regulators’ requirements.

Ricardo Nicanor “Ricky” N. Jacinto is a member of the M.A.P. Corporate Governance Committee and the CEO of the ICD.

rjacinto@icdceg.org

map@map.org.ph

http://map.org.ph

Former USeP president, UP professor appointed CHEd commissioners

DR. PERFECTO A. ALIBIN, former president of the University Southeastern Philippines (USeP), and Dr. Lilian A. de las Llagas, former University of the Philippines (UP) professor and veteran health science researcher, were appointed in August as commissioners of the Commission on Higher Education (CHEd). Ms. De Las Llagas also previously served as secretary of UP-Manila and of the UP Board of Regents. Mr. Alibin, on the other hand, was a long-time professor of educational management and public administration apart from heading USeP. Their terms will both end on July 21, 2021. The CHEd’s Commission En Banc is now complete.

Tillerson says US could stay in Paris climate accord

WASHINGTON — The United States could remain in the Paris climate accord under the right conditions, Secretary of State Rex Tillerson said on Sunday, signaling a shift in tone from the Trump administration, which angered allies with its decision to pull out of the agreement.

President Donald Trump is willing to work with partners in the Paris agreement if the United States could construct a set of terms that are fair and balanced for Americans, Mr. Tillerson said on CBS’ Face The Nation.

Asked if there was a chance the United States could stay in the accord, Mr. Tillerson responded, “I think under the right conditions.”

“The president said he is open to finding those conditions where we can remain engaged with others on what we all agree is still a challenging issue,” Mr. Tillerson said.

Mr. Trump’s national security adviser, H.R. McMaster, struck a similar tone in television interviews on Sunday in which he said Mr. Trump had always been willing to consider changes on the climate pact.

“He left the door open to reentering at some later time if there can be a better deal for the United States,” Mr. McMaster said on ABC’s This Week program.

“If there’s an agreement that benefits the American people, certainly.”

The accord, reached by nearly 200 countries in 2015, was meant to limit global warming to two degrees or less by 2100, mainly through pledges to cut carbon dioxide and other emissions from the burning of fossil fuels.

The Republican president fulfilled his campaign promise to pull out of the 2015 accord in June, when he announced tersely “We’re getting out.”

Mr. Trump maintained the pact would undermine the US economy and national sovereignty and his decision drew anger and condemnation from world leaders.

It takes four years for a country to withdraw from the Paris agreement, so the United States will be a party to the agreement until two days after Mr. Trump’s first term ends.

US officials attended a meeting on Saturday of ministers from more than 30 of the nations that signed the climate change agreement.

The Wall Street Journal reported on Saturday that Mr. Trump’s administration officials said the United States would not pull out of the agreement and had offered to re-engage in the deal.

Mr. McMaster dismissed the report as inaccurate. “He’s out of the Paris climate accord,” he told the Fox News Sunday program.

Mr. Tillerson said Gary Cohn, Mr. Trump’s top economic adviser, was overseeing the issue.

“So I think the plan is for director Mr. Cohn to consider other ways in which we can work with partners in the Paris Climate Accord. We want to be productive. We want to be helpful,” he said.

Mr. Cohn has been part of the “stay-in” accord camp, which included Mr. Trump’s daughter Ivanka and son-in-law, Jared Kushner. Former chief strategist Steve Bannon was one of the main opponents of the accord before leaving the White House last month.

Mr. Trump has said the Paris accord is soft on leading polluters like China and India, putting US industry at risk.

But the Republican president has shown flexibility on some campaign promises, and US allies have been vocal on the importance of the climate accord.

At a July news conference with French President Emmanuel Macron in Paris, Mr. Trump held open the door to a reversal of his decision, saying “Something could happen with respect to the Paris accords.”

“Let’s see what happens.” — Reuters

Wesley So enters World Cup last 8

The FIDE World Cup started with 128 players three Saturdays ago and now, after round 4, there are eight players left standing.

Results of Round 4:

Peter Svidler RUS 2756 vs Bu Xiangzhi CHN 2714, 3.0-1.0

Maxime Vachier Lagrave FRA 2804 vs Alexander Grischuk RUS 2788, 3.5-2.5

Vassily Ivanchuk UKR 2727 vs Anish Giri NED 2777, 1.5-0.5

Daniil Dubov RUS 2666 vs Levon Aronian ARM 2802, 0.5-1.5

Wesley So USA 2792 vs Baadur Jobava GEO 2702, 2.5-1.5

Maxime Rothstein ISR 2695 vs Vladimir Fedoseev RUS 2731, 1.0-3.0

Richard Rapport HUN 2675 vs Evgeniy Najer RUS 2694, 2.5-1.5

Wang Hao CHN 2701 vs Ding Liren CHN 2771, 0.5-1.5

Pairings for Round 5

(Quarterfinals):

Top Half

Peter Svidler RUS 2756 vs Maxime Vachier Lagrave FRA 2804

Vassily Ivanchuk UKR 2727 vs Levon Aronian ARM 2802

Bottom Half

Wesley So USA 2792 vs Vladimir Fedoseev RUS 2731

Richard Rapport HUN 2675 vs Ding Liren CHN 2771

Each of the Quarterfinalists are guaranteed a minimum of $35,000. All the winners of this round proceed to the semifinals with a minimum purse of $50,000. After that, for the two finalists, the loser gets $80,000 and the winner $120,000. Not bad.

Remember what I wrote about Baadur Jobava last August?

“Have you ever seen the 2004 Walt Disney Movie Miracle? It is about the United States men’s hockey team which won the gold medal in the 1980 Winter Olympics. One scene sticks to my mind — the coach of that team, Herb Brooks (Kurt Russell) chose Jim Craig as his main goalkeeper during the tryouts in Colorado Springs. The assistant coach, played by Noah Emmerich, was surprised by this choice and said that people he has talked to think that Craig’s game has been off since his mom died. To that Coach Herb replied ‘but have you ever seen him when his game is on?’”

When he is “on” Baadur Jobava is without a doubt among the best in the world. He has won the gold medal twice on board 1 in the Olympiads — an awesome performance rating of 2926 with 8/10 in the 2016 Baku Chess Olympiad and another one from the 2004 Calvia Olympiad, where his score was an even more impressive 8.5/10.

Jobava though would be the first to admit that he is his own worst enemy. “If I am concentrated and working, then I play well. If I give in to b*llsh*t, drinking, gambling…”

Here in the World Cup GM Baadur was aware of his responsibilities — the hometown crowd from Tbilisi with everyone idolizing him as the best player from Georgia, the crowds who would go to the playing venue to wish him well and watch the play. As he said two years ago: “Maybe now my best age is coming. I don’t know. I hope so. But I need to deserve it and work hard. Let’s see.”

Jobava had the upperhand in the first two games (classical) in his match against Wesley So. The first tie-break game (25 minutes with 10 second increment) was what did him in.

* * *
So, Wesley (2810) — Jobava, Baadur (2687) [E17]
FIDE World Cup 2017 Tbilisi (4.3), 14.09.2017

1.Nf3 Nf6 2.c4 b6 3.g3 Bb7 4.Bg2 e6 5.0–0 Be7 6.Nc3 0–0 7.Re1 d5

So now we are in the process of transposing to the Queen’s Indian. In chesspublishing.com, a Web site which I highly recommend if you want to keep up-to-date with opening theory, GM John Emms remarks that “I’m unsure whether White really has any theoretical edge after 7…d5, but the arising positions do seem easier for White to handle.”

8.cxd5 exd5 9.d4 Re8

There is this perpetual question in the Queen’s Indian whether Black should go for …c5 or …c6. In this position for example if Black plays 9…c5 right away his center would come under pressure: 10.dxc5 bxc5 (10…Bxc5 is better but that means the second players is left with an isolated pawn on d5.) 11.Qb3 Qb6 (11…Qc8 12.Ne5 Nbd7 13.Bxd5!) 12.Ne5 Rd8 13.Rd1 White has a 100% score in this line.

10.Bf4 h6

Jobava got this very same position in the World Rapid Championship in Doha last year and quite expertly rolled his opponent: 10…Na6 11.Rc1 h6 12.Ne5 Bf8 13.Qa4 c5 14.Nb5 Nb4 15.a3 Nc6 16.Qc2 g5! Black has grasped the advantage and forcefully pushes it through 17.Bd2 Nxd4 18.Nxd4 Rxe5 19.f4 Re8 20.fxg5 Ne4 21.Nf5 Nxd2 22.Qxd2 Qxg5 23.Qc2 Re5 24.Rf1 Rae8 25.Rce1 Qg6 26.Rf2 Bc8 27.Ref1 d4 28.Bh3? Qh5! White is losing material. 0–1 Lalith,B (2587)-Jobava,B (2702) Doha 2016. The text move is an attempt at an improvement, doing away with his wasted moves with the queen’s knight in the Doha game.

11.Ne5 Nbd7 12.Qa4 Nf8 13.Nc6 Qd7 14.Nxe7+ Rxe7?!

Baaadur should have kept the queens on the board with 14…Qxe7 so that he has chances at developing a kingside initiative. After they are exchanged Wesley gets a position where he can push for a win at no risk.

15.Qxd7 Rxd7 16.Bh3 Re7 17.Nb5 Ng6 18.Be3

[18.Bxc7 Ba6 19.Bd6 Bxb5 20.Bxe7 Nxe7 Wesley has lost his bishop pair]

18…Ne4 19.a4 a6 20.Nc3 Nxc3 21.bxc3 Rae8 22.Bg2 c6 <D>

POSITION AFTER 22…C6

Wesley notes his opponent’s queenside pawn weakness and shifts his pieces to take advantage of this. Watch!

23.Ra2 f6 24.Bc1! Nh8

It is a tempting idea to play 24…c5? before White has gotten in Ba3, but here it loses material: 25.Ba3 Rc7 (if he uses the other rook then 25…Rc8 26.Rb2 Re6 27.Bh3) 26.Rb1 Re6 27.dxc5 bxc5 28.Rxb7 Rxb7 29.Bxd5 and wins.

25.Ba3 Rc7 26.Rb2 b5 27.e4! Nf7

[27…dxe4 28.Bxe4 (Wesley takes over the e-file. Take note that he is threatening to win Black’s e8–rook via discovered check) 28…Rd8 29.Bc5 Rcc8 30.Rbe2 it is only a matter of time now]

28.Re3 bxa4 29.exd5 Rxe3 30.fxe3 cxd5 31.c4!

Taking advantage of the pin along the long diagonal.

31…Rd7 32.Bh3 Rc7 33.Bg2 Rd7 34.Rb6 Nd8 35.cxd5 f5

Black has to give up the pawn as 35…Bxd5 36.Bh3 Rb7 37.Rd6 wins a piece for White.

36.g4 Bxd5 37.gxf5 Bc4 38.Bf1 Bxf1 39.Kxf1 a5 40.Rb5 Nc6 41.Kf2 Ra7 42.Ke2 Kf7 43.Kd2 Nb4 44.e4 Rc7 45.Rxa5 Rc2+ 46.Kd1 Rc4 47.Ra7+ Kg8 48.Rxa4 Rxd4+ 49.Ke2 Rxe4+ 50.Kf3 Re5 51.Rxb4 Rxf5+ 52.Rf4 Ra5 53.Bb4 Rb5 54.Bc3 Rb7 55.Rc4 Rf7+ 56.Ke4 Kh7 57.Be5 Rf1 58.Rc7 Rg1 59.Kf5 Rg5+ 60.Ke6 Kg8 61.Rc3 Rg6+ 62.Kf5 Rg5+ 63.Kf4 Rg1 64.Kf5 Rf1+ 65.Kg6 Rg1+ 66.Bg3 1–0

Jobava resigns in view of the forthcoming Rc8+.

In the finals the winner of the Top Half (see pairings given above) faces off against the winner of the Bottom Half. Coincidentally, this World Cup has become a battle of the “young once” (Peter Svidler, 41 years old, Vassily Ivanchuk at 48, Aronian is 34 and Maxime Vachier Lagrave is 26) vs the “young ones” (Ding Liren 24, Wesley So 23, Fedoseev 22 and Richard Rapport 21). On paper it might look like the Top Half is a lot stronger than the Bottom, but that is misleading. The group of Svidler et al. has been hovering in the 2700s for a while now, but younger players tend to be under-rated since they are still on the upswing. A perfect example of this is GM Vladimir Fedoseev, who is currently rated 2731 but if you look at his ratings over the last 6 months you will see that he has gained 80+ points from recent tournaments. In other words Fedoseev is much stronger than what his rating might indicate.

And, oh yes, Fedoseev is Wesley So’s next opponent, so let us take a look at his blood-thirsty style with which he defeated the Israeli Rodshtein.

* * *
Rodshtein, Maxim (2695) — Fedoseev, Vladimir (2731) [E16]
FIDE World Cup 2017 Tbilisi (4.1), 12.09.2017

GM Maxim Rodshtein is a native of St. Petersburg who moved to Israel in 2007 at the age of 18. He immediately made an impact in his new country when he played board 2 for the Israeli team to the 2008 Dresden olympiad where he was a significant contributor to their silver medal, the first in Israel’s history. GM Maxim is also one of the seconds of Levon Aronian.

1.d4 Nf6 2.c4 e6 3.g3 d5 4.Bg2 Bb4+ 5.Nd2 0–0 6.Ngf3 b6 7.0–0 Bb7 8.a3 Be7 9.b4

Another Queen’s Indian! In Fedoseev’s case though he settles the matter of the …c5 or …c6 debate right away.

9…c5!

This move originated from Rubinstein vs Alekhine, Semmering 1926. Alekhine was awarded the brilliancy prize for winning this game (c’mon guys, you’ve seen Alekhine’s book on his best games, right?)

10.bxc5 bxc5 11.Rb1

The Alekhine game continued 11.dxc5 Bxc5 12.Bb2 Nbd7 13.Ne5 Nxe5 14.Bxe5 Ng4! 15.Bc3 (15.Bb2 Qb6) 15…Rb8 16.Rb1 d4! 17.Rxb7? (17.Bb4 Bxg2 18.Kxg2 Qc7 “reaching a position that would be in Black’s favor too, but hardly in a decisive way”) 17…Rxb7 18.Bxb7 Nxf2! 19.Kxf2 dxc3+ 20.e3 cxd2 21.Ke2 Qb8 22.Bf3 Rd8 23.Qb1 Qd6 24.a4 f5 25.Rd1 Bb4 26.Qc2 Qc5 27.Kf2 a5 28.Be2 g5 29.Bd3 f4! 0–1. Rubinstein,A-Alekhine,A Semmering 1926.

11…Qc8 12.Bb2 Nbd7 13.dxc5 Nxc5 14.Qc2 Nfe4 15.Rfc1 f6 16.cxd5 Bxd5 17.Nd4 f5 18.Nxe4 fxe4 19.Qc3 Rf7 20.Qe3 Qd7 21.Ba1 Raf8 22.f4 e5!?

Sacrificing a pawn to get his queen into position.

23.fxe5 Qg4

The threat is Bg5.

24.Rf1 h5 25.h3 Qg6 26.Kh2 h4 27.g4 Bg5 28.Qc3 Rxf1 29.Rxf1 Rxf1 30.Bxf1 Qf7 31.Nf5 Ne6 32.Kg1 g6 33.Nd6 Qf4 34.Bg2 Bd8!

Relocating his bishop to the g1–a7 diagonal.

35.Nc4?

Allowing the following brilliant combination.

35…e3! 36.Bxd5

[36.Nxe3 Bb6 37.Bxd5 Bxe3+ 38.Kg2 Qf2+ 39.Kh1 Qg1#]

36…Qf2+ 37.Kh1 Qf1+ 38.Kh2 Bg5!

White can only prevent Bf4 mate by giving up major material.

39.Bxe6+ Kg7 40.Qxe3 Bxe3 41.Nxe3 Qxa1 42.Nc4 Qe1 0–1

Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant (CPA), he taught accounting in the University of Santo Tomas (UST) for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.

bobby@cpamd.net

Clearing the air

On the eve of the Sept. 21 protests against the Duterte regime, it has become necessary to clear the air of certain misconceptions as well as false judgments against the Left that stand in the way of forging a broad unity across the political spectrum.

To those who denigrate the Left, or more specifically, the national democratic movement, for having given Duterte the benefit of the doubt in his claim to being a Leftist and a socialist despite a checkered record as Davao City mayor, allow me to say this.

There was good reason to do so: Duterte’s solemn promise to release all political prisoners through amnesty; the resumption of peace talks; the appointment of four progressive, competent and upright individuals to the Cabinet; his stance on ending contractualization, upping SSS pension for seniors, land to the tiller, prioritizing public spending on education, health care, and other social services; his openness to dialogue with the Left on various issues; and his pronouncements to pursue an independent foreign policy.

On the other hand, there was also Duterte’s mailed-fist policy on crime and drugs; his sexism; the preponderance of crooks, militarists, neoliberals and pro-US imperialists in his Cabinet; more-of-the-same neoliberal economic policy frame, policies and programs; and not least of all, his alliance with the Marcoses and former president Gloria Arroyo.

The Left decided to gamble on Duterte, to give him time to deliver on his promises and to prove his Leftist leanings. But the leeway that the Left gave to Duterte did not preclude sharply criticizing and vigorously opposing his administration’s anti-people, anti-national policies and programs.

The open democratic mass movement was unrelenting in doing so in several venues — the parliament of the streets, the mass media, the courts and even in the House of Representatives where the Left has a miniscule number.

Restraint was shown only by distinguishing between Duterte and the ultrareactionaries in his Cabinet especially his economic managers and the triad of Lorenzana-Año-Esperon. For more than a year no effigies of Duterte were burned at demonstrations. Instead the Left met with him on several occasions to bring up the grievances of urban poor, the lumad of Mindanao, striking workers, and land reform beneficiaries.

The armed revolutionaries under the CPP-NPA-NDFP continued to wage people’s war — armed struggle, agrarian revolution, and a shadow people’s government operating in the countryside. While initially expressing willingness to contribute to Duterte’s campaign against drug trafficking by interdicting drug lords, the CPP-NPA declared early on that they would not be a party to the kind of brutal war being waged against hapless drug addicts and small-time drug pushers.

In a short period of time, the true character of Duterte begun to reveal itself.

Duterte veered more and more to the Right: EJKs galore combined with impunity for the police and military perpetrators; all-out war against the CPP-NPA with bombardments and displacement of thousands of peasants and indigenous peoples; a militarist response to the Marawi crisis leading to the city’s destruction, civilian casualties, the exodus of the populace; the extension of martial law in Mindanao; political persecution of critics and oppositionists; attempts to neutralize government institutions that can act as a check to his tyrannical rule; the scuttling of peace talks; kowtowing to China and maintaining a modus vivendi with the US; a humongous budget going to the failed “war on drugs,” counterinsurgency, the president’s intelligence fund and building a grassroots spy network while gutting the budget of the Human Rights Commission; looming mind-boggling corrupt infrastructure deals with the “build, build, build” frenzy; coddling of pork barrel-hungry legislators; cover up of billions worth of smuggling of shabu involving his son and son-in-law; and the list goes on.

Things finally came to a head leading to the NPA’s intensification of armed tactical offensives against the military and police upon the declaration of martial law in Mindanao. This year’s State of the Nation protests denounced the US-backed Duterte fascist regime. Duterte’s effigies are being burned without remorse in demonstration after demonstration.

The brazen summary execution by the police of several youths in urban poor communities sparked public outrage. Progressive church organizations and other national democratic mass organizations mounted mass protests, gave succor and sanctuary to victims, their families and witnesses.

The rejection of Social Welfare Secretary Judy Taguiwalo and Agrarian Reform Secretary Rafael Mariano by the Commission on Appointments (CA) manifested Duterte’s utter lack of support for them. He just let the CA do the dirty job of kicking them out.

This was the last straw that led to the decision of the Makabayan Coalition of progressive political parties to bolt from the Supermajority of Duterte allies in the House of Representatives. Nonetheless, even before this move, the Makabayan congresspersons had consistently stood their ground on contentious issues such as martial law, the death penalty, lowering the age of criminal accountability of minors, oppressive tax reform measures, and many, many more.

There are those who want to place the onus of a fully evolved corrupt, puppet and fascist Duterte on the Left. In doing so, they wish to put the Left on the defensive. The charge or innuendo that the Left “enabled” the Duterte regime is patently wrong even if it appears to be a backhanded compliment to the capability of the Left to shape a reactionary ruling regime.

There are those who honestly disagreed with giving Duterte the benefit of the doubt that he could or would go in a progressive direction. Yet they acknowledge the reasons for the Left doing so; recognize the Left’s sustained, principled position on issues; and their never giving up the fight for genuine change. They are not making puerile demands that the Left apologize for having been duped by Duterte and they welcome the Left’s earnest efforts to build a strong and broad opposition against the Duterte regime’s EJKS and rising tyranny. To the former, we say good luck to your demolition job. To the latter, see you in Luneta on Sept. 21, 4 p.m. Please wear black, bring an umbrella and your own scathing placards.

Carol Pagaduan-Araullo is a medical doctor by training, social activist by choice, columnist by accident, happy partner to a liberated spouse and proud mother of two.

carol_araullo@yahoo.com

Not clowning around, It again dominates box office

LOS ANGELES – Record-setting horror film It continued its winning ways over the weekend, accounting for nearly three times the combined ticket sales of the next two films in North American theaters, industry Web sites reported Sunday.

The Warner Bros. film, based on a Stephen King novel and starring Bill Skarsgard as a creepy clown who terrorizes a sleepy Maine town, earned an estimated $60 million for the three-day weekend, bringing its domestic total to $218.7 million in only two weeks, Web site Exhibitor Relations reported.

Trailing far behind were two new releases, American Assassin from CBS Films/Lionsgate, at $14.8 million, and mother! from Paramount, which registered just $7.5 million in ticket sales despite the star power of Jennifer Lawrence.

Assassin stars Dylan O’Brien as a CIA “black ops” recruit who teams with crusty veteran agent Michael Keaton to try to prevent terrorists from starting a war.

Paramount’s mother! earned a dubious distinction: the lowest opening gross for a Jennifer Lawrence film in wide release. A psychological thriller from Darren Aronofsky, it probably suffered from going head-to-head against It.

In the film, Lawrence and husband Javier Bardem see their tranquil lives upended when strangers Ed Harris and Michelle Pfeiffer show up at their country home. The movie drew a rare “F” from the ComScore Web site despite a relatively strong 69% rating on Rotten Tomatoes. Aronofsky earned critical acclaim for earlier films including The Wrestler and Black Swan.

In fourth place was Home Again from Open Road Films, with a take of $5.3 million. The romantic comedy stars Reese Witherspoon as a recently separated woman whose life changes when she lets three young men move in.

And in fifth was The Hitman’s Bodyguard, at $3.6 million. The action comedy stars Ryan Reynolds as a bodyguard hired to protect a notorious hitman played by Samuel L. Jackson.

Rounding out the top 10 were: Annabelle: Creation ($2.6 million); Wind River ($2.6 million); Leap! ($2.1 million); Spider-Man: Homecoming ($1.9 million); and, Dunkirk ($1.3 million). – AFP

NEA to allow bigger private sector role in rural power

THE National Electrification Administration (NEA) is drafting a policy to fast-track rural electrification by allowing private sector participation in electricity distribution, especially in remote areas of the Philippines, the agency said on Monday.

“Electric cooperatives should fast-track electrification and should open up through installation of micro-grids, allowing private distribution utilities should they be interested to energize an area, as well as maximizing solar home system and access to sustainable energy program,” said NEA Administrator Edgardo R. Masongsong in a statement, citing his response to a Senate budget inquiry on Thursday.

He said state agency NEA was preparing a policy that would hasten rural electrification to maximize, among others, micro-grid and solar home systems, as well as access to sustainable energy program.

He said the policy will be presented to the country’s 121 electric cooperatives next month.

Last week, Mr. Masongsong said NEA, the government agency tasked to oversee the country’s electric cooperatives, told lawmakers that the agency proposed a budget of P9.63 billion for 2018 but the Department of Budget and Management recommended P4.9 billion as contained in the national expenditure program.

During the hearing, Sen. Loren Legarda, who chairs the Senate finance committee, said private sector participation should be encouraged for the agency to achieve its goal of completing the rural electrification program of the government.

In the same hearing, Sen. Sherwin Gatchalian, chairman of the Senate committee on energy, told NEA to take advantage of latest technologies, such as the micro-grid systems, to reach far-flung areas that are not reached by the country’s high-voltage power transmission grids.

The senator said private distribution utilities had expressed interest in building micro-grid systems in areas or sitios left unserved or underserved by the electric cooperatives. — Victor V. Saulon

Trump Towers going up fast in country close to US

HONG KONG — In western India, a pair of shiny black Trump buildings with gold insignia tower over the city of Pune. In nearby Mumbai, a 75-story Trump skyscraper will be one of the tallest in the megacity. In a swanky suburb of Delhi, two Trump partners have big plans. And in Kolkata, a new Trump tower is under way.

Three years after Donald Trump arrived on his private jet for a deal-making tour, India has become the only major developing country where his business is roaring. It has the most construction projects with Trump licensing deals of any country outside of the United States.

After his election, Mr. Trump abandoned a number of international projects and promised not to engage in new foreign deals that could trigger conflicts of interest. With the Indian deals struck earlier, his company is barreling ahead. While in office, Trump has been building a strong bond with Prime Minister Narendra Modi — as his company builds ties with some partners who have faced legal troubles.

Mr. Modi was one of the first to visit Trump after he took office and invited daughter Ivanka to lead a delegation to a business summit in November. All of this has raised fresh questions about whether Trump Organization’s deals with politically-connected foreign tycoons could put his interests ahead of the nation’s and entail special treatment by foreign authorities.

India is a key US ally in Asia and its rivalry with both Pakistan and China fosters many areas where Messrs. Trump and Modi need each other — nuclear weapons, anti-terrorism, Afghanistan and trade, among others. So far, Mr. Trump doesn’t seem to have spared India in policies ranging from visas for technology workers to the Paris climate accord. Still, the risk that he might let his business interests outweigh national needs — or that India might cut him a break on taxes or permits in exchange for policy tweaks — remains a big concern for government ethics experts in the US. A spokesman for Modi did not respond to repeated requests for comment.

Asked about potential conflicts in India, the Trump Organization said it’s “very proud of the success we have achieved in that market with five active properties under various stages of development.” The White House referred questions to the Trump Organization.

Mr. Trump’s Indian partners Atul and Sagar Chordia celebrated the US victory by flying immediately to New York to congratulate the president-elect, increasing congressional calls for Trump to divest his businesses. He opted instead to hold onto his assets and hand management to his two older sons.

Whatever concerns have been raised in the US regarding the blending of business and policy, Trump’s election seems only to have increased the value of his brand in India, though some voices in the Indian press have begun to question the effects of politics and well-publicized conflicts of interests on his brand. Here, political ties have long been the fastest route to get approvals for big projects.

Only Afghanistan is more burdensome when it comes to dealing with construction permits, according to a ranking of 186 nations in the World Bank’s 2017 Doing Business report.

In fact, the link between construction and politics is so tight in India that research by political scientists Milan Vaishnav and Devesh Kapur shows that cement consumption declines in the lead-up to state assembly elections because firms redirect cash from construction to campaigns.

“No one in India would think twice about him being engaged in politics on the one hand and real estate on the other,” said Mr. Vaishnav, senior fellow at the Carnegie Endowment for International Peace.

“It’s an open secret that to be successful in Indian real estate, you have to be well connected in politics.”

In a more surreal display of Mr. Trump’s allure in India, a small village, encouraged by a charity group, renamed itself Trump Village and put up a Trump billboard to help get much-needed toilets. A local commissioner lashed out at the stunt and ordered the billboard removed. Bindeshwar Pathak, an activist who led the effort, expects the name will stick, however: “You can now say ‘I want to go to Trump Village’ and people will tell you how.”

One question facing Mr. Modi is to what extent his changes in real estate policy could impact the bottom line of Trump Organization or its partners. Last year, he ended a tax loophole often used by the rich to buy property in someone else’s name.

In his high-profile visit to Mumbai in August 2014, Mr. Trump praised Mr. Modi for winning the country’s first single-party parliamentary majority in 30 years. “India is a great place to invest, especially after the elections,” Mr. Trump told reporters.

He held a banquet attended by 500 of Pune’s rich and powerful, in which TV cameramen pushed for position while a Bollywood star interviewed the American tycoon.

Mr. Trump spoke about his global ambitions to build towers in China and South America. As it happens, those projects have largely failed to materialize. His group scrapped deals in Brazil last year after being cited in a local corruption probe, in which the group hasn’t been charged with any crimes, and several projects in China and Russia have floundered.

Not so in Mr. Modi’s India, where an extended economic boom and the political influence of Mr. Trump’s allies have helped his business flourish.

In Pune on a recent afternoon, men in military uniform guarded the entrance of the Trump towers as auto rickshaws buzzed about on the street outside. The twin 23-story buildings stand out in the city’s unremarkable skyline. They were erected by Panchshil, the real estate business of the Chordia family. Patriarch Ishwardas Chordia, who hailed from a family of sugar traders, was college buddies with a powerful political broker, Sharad Pawar, whom Mr. Modi has lauded for his guidance in his early days in politics, and whose family members have shared business interests with the Chordias.

When Chairman Atul Chordia, his brother and an associate visited Trump days after the election, Trump praised Modi. The Chordias had been negotiating a second deal, which Trump scrapped along with other projects days before his inauguration. Mr. Chordia declined to comment.

In nearby Mumbai, Abhishek Lodha is trying to secure approvals for the last few floors of the Trump Tower Mumbai. The managing director of Lodha Group said in an interview at the firm’s office that he negotiated the tower deal over six months prior to Trump’s election, which included a visit to Trump Tower in New York for meetings with Donald Jr. and Ivanka. Once in Mumbai, Trump the elder made a few tweaks to the project: bigger kitchens, air-conditioning in the lobbies and kitchens, and he picked out the façade design.

Mr. Lodha is no political novice. His father is the deputy boss in Maharashtra state for Modi’s Bharatiya Janata party. After the government revised rules to allow transfer of development rights to the city of Mumbai in November, Mr. Lodha was the first to take advantage and surrendered some mill land. The group gained rights to more floor space in the city but hasn’t said how it will use it.

Almost 900 miles to the north in the Delhi suburb of Gurgaon, Pankaj Bansal is one of two Trump partners in a city where a Dubai-style boom of sky-rises emerged almost overnight out of farmland. Mr. Bansal, who traveled with Modi in business delegations to Russia and Japan, agreed to meet at M3M’s Golf Estate, though declined to comment on his Trump tie-up.

The entrance to the resort is flanked by shanties of workers. Mr. Bansal collects cars and likes to sky dive, and his company sells dreams to those fancying themselves as “the gentry” — a promotional video by his Polo Suites project offers a chance to “breathe the air of nobility, and live your life king-sized, to walk like gods amongst men.”

Gurgaon’s market is tough at the moment, but Mr. Bansal said he expects the family-run company to weather India’s economic slowdown by delivering on projects as competitors face crises. Two managing directors of Unitech Limited, for example, are fighting allegations that they duped customers after they were arrested in April over a delayed project. Unitech, which is not a Trump partner, did not respond to requests for comment.

“People who are delivering are doing okay,” said Mr. Bansal. “People who aren’t are bleeding blood.”

The name — M3M — tells something about the company’s self-image. It stands for Magnificence in the Trinity of Men, Materials and Money. The group has been facing some legal troubles of its own. It has denied allegations in a police report in March that an executive bribed forestry officials to clear 2,200 trees at a development site. The company says the allegations are completely false.

The company was entangled for years in a tax investigation into the suspected use of fronts in land purchases, a practice which is banned in India. M3M’s chairman offered to pay millions in advance tax when investigators raided group offices and seized funds and valuables in 2007, though court documents show the funds were later recouped after no incriminating evidence was found. The company said an appeal by the income tax department was dismissed in its favor in 2015.

Mr. Trump’s other partner in Gurgaon, IREO, also had its offices searched by tax investigation in 2010. The group said in an e-mailed response that it complied with tax authorities and provided all of its relevant shareholding details. No charges were filed. The executive who announced the Trump deal for the private equity real estate firm is the brother-in-law of Sudhanshu Mittal, a ruling party leader, though the company said he is not associated in any ownership or management capacity.

Harsh Patodia, chairman for Unimark Group, who has an arrangement with the Trump Organization in Kolkata, declined to comment by phone. Tribeca Developers, whose founder Kalpesh Mehta is a Trump representative in India who visited Trump Tower in November with the Chordias, also declined requests for comment.

During his 2014 visit, Mr. Trump knew how to flatter his audience.

“I don’t consider this an emerging market, I consider this an amazing market,” he said in an interview with NDTV, citing real estate prices that are cheap by his standards, though out of reach for most Indians.

“India was very divisive at one point and people were afraid to invest and I think people have great confidence in the new prime minister.”

Mr. Trump’s courting of India is already paying off: his personal financial disclosures, which released details of his income in ranges, show India deals bringing in between $1.6 million and $11 million in royalties since 2014. — Bloomberg

Virgin coconut oil exporter gets BoI nod

THE BOARD OF INVESTMENTS (BoI) gave the go-signal for the P56-million project of a Bulacan-based food manufacturing company as a new export producer of virgin coconut oil (VCO).

In a statement released by the investment arm of the Department of Trade and Industry (DTI), BoI said Rizal VCO Phils. Corp.’s project — which qualified under the export activities list of the 2017 Investment Priorities Plan (IPP) — is expected to annually produce 748,800 liters of VCO at its Bocaue plant.

Approved in February this year, the 2017 Investment Priorities Plan, DTI places agriculture and agro-processing as one of the preferred activities for investment.

Rizal VCO started operations in August with 15 workers to produce VCO which will be used as raw material for cosmetics and personal care products. The new company is eyeing Bahrain, United Arab Emirates and Qatar as its target markets. 

BoI said the company will covert refined/bleached/deodorized or RBD coconut oil into VCO. This involves a process wherein the RBD coconut oil will be mixed with herbal extracts, and placed in a centrifuge separator and filtering machine to remove fatty content.

“This innovative approach would sustain the growing popularity of coconut oil products in our export markets which will bring more jobs and additional income opportunities for our countrymen,” Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo was quoted as saying.

In DTI’s Directory of Philippine Exporters 2015, there are only 19 local companies with virgin coconut oil as their product line.

The Philippine Statistics Authority’s preliminary report showed coconut exports growth in the first half of the year shot up by 88.2% to a free-on-board value of $792.27 million from $421.07 million during the same time last year.

Coconut exports ranked ninth in the top export list, which is led by electronic machineries and transport. — Anna Gabriela A. Mogato

Mrail to conduct freight train feasibility study

MRAIL, Inc., a subsidiary of Manila Electric Company (Meralco), is undertaking a feasibility study on the extension of its freight train project from Calamba, Laguna to the Batangas International Port.

In a statement, Mrail said it signed a memorandum of understanding with the Batangas provincial government on the feasibility study, which will look into the alignment of the tracks and viability of the Philippine National Railways’ (PNR) right of way.

“The proposed MRAIL freight project in partnership with government and private sector partners, offers the potential of helping spur economic growth in the province and providing more jobs to the people of Batangas,” said Mrail Chairman Oscar S. Reyes, who is also president and CEO of Meralco.

Mrail has submitted a proposal with the PNR to operate a freight train from Tutuban to the Laguna Gateway Inland Container Terminal in Calamba, and later to Batangas.

Operated by Asian Terminals, Inc., the Batangas Container Terminal handles over 300,000 twenty-footer-equivalent units (TEUs) annually. It is located inside the Batangas International Port.

“The project aims to provide a seamless transportation of containerized cargoes by moving them via railway instead of the roads. This will help improve traffic flow by reducing the number of cargo trucks by at least 300-600 daily,” Mrail said.

China home prices rise in fewer cities in property slowdown

SHANGHAI — China’s home prices rose in the fewest cities since January, adding to signs of a real estate industry slowdown as officials persist with curbs to limit the risk of bubbles.

New-home prices, excluding government-subsidized housing, in August gained in 46 of 70 cities tracked by the government, compared with 56 in July, the National Bureau of Statistics said on Monday.

Prices fell in 18 cities from the previous month and were unchanged in six.

Developers’ stocks rose amid speculation that the government’s success in cooling home prices indicates that any further curbs will be limited.

So far, developers believe they can weather restrictions, with companies such as Country Garden Holdings Co. last month raising sales targets for the year.

Home sales increased last month at the slowest pace in almost three years, according to data released last week. The government is trying to control home prices with city-by-city curbs without triggering an industry slump that could undermine economic growth.

With credit tight, sales may soften further in the fourth quarter, Deutsche Bank AG analysts led by Hong Kong-based Jeffrey Gao wrote in a report before Monday’s numbers.

Guangzhou, one of the nation’s biggest cities, finally joined Beijing, Shanghai and Shenzhen in reporting flat or declining prices. Guangzhou’s prices fell 0.7% after rising for 28 months. Values slipped 0.4% in Shenzhen, a bigger decline than a month earlier. Prices were unchanged in Beijing and Shanghai.

The largest drop was in the southern tourist city of Haikou, on the tropical island of Hainan, where home prices fell one percent, after the city previously stepped up home-buying curbs to ease speculation. — Bloomberg

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