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Japan and Thailand are the most popular destinations for Chinese tourists this summer

CHINESE TOURISTS take part in an alms giving ceremony to Buddhist monks in Luang Prabang, Laos. — BLOOMBERG

JAPAN AND THAILAND top the list of Asian destinations for Chinese tourists heading abroad this summer, as the world’s biggest market of travelers look for holidays that offer good value.

South Korea and Japan have already seen a surge of Chinese tourists after their currencies weakened against the yuan, while Southeast Asian countries including Malaysia and Thailand lure tourists with visa-free entry and relatively lower costs, according to Cirium seat capacity data, flight ticketing analysis from ForwardKeys and online travel sites’ bookings.

Amy Li, who lives in Chengdu, is planning a nine-day trip to Malaysia next month with her husband and two children. Pricing was the single biggest factor in choosing Malaysia, where they will visit Kuala Lumpur and beaches in Kota Kinabalu, she said.

“It’s good value for money,” Li said. “I like ocean views and…and it’s not that far.”

The return of Chinese tourists to the global travel market is being closely watched, as their numbers and spending are crucial for the tourism industry’s recovery. Forecasts on when overseas trips by Chinese will return to pre-pandemic levels vary — some expect it will rebound fully by the end of this year, while others including Fitch Group, Inc. say mainland tourists are still restraining spending.

Bookings and search data show there’s increased demand for international travel this summer. Trip.com Group Ltd. sees outbound travel from China doubling year-on-year, with family group sales for overseas holidays accounting for half of current bookings.

The World Travel and Tourism Council earlier this month forecasts Chinese holidaymakers will splurge 1.8 trillion yuan ($250 billion) on overseas trips this year, exceeding pre-pandemic levels for the first time.   

For now, Chinese tourists haven’t fully returned in the numbers that were seen in 2019. Regional destinations for the June to August summer season are set to recover to about 80% of 2019 levels, according to flight ticketing analysis as of June 7 from ForwardKeys.

The only two countries in Asia that are expected to exceed their 2019 levels are Singapore, with a 15% spike, and Malaysia, which is seeing a 32% boost, according to ForwardKeys.

Asian nations that have implemented visa-free policies have seen faster bookings growth, with Thailand and Singapore becoming popular weekend getaways, said Tongcheng Travel, an online agency popular among Chinese users.

EASIER ENTRY
Taking advantage of relaxed visa requirements,  Bella Huang, a 27-year-old teacher from Jiangsu, is headed to Thailand in August with two girlfriends. A big fan of Thai television, this will be her first and only overseas trip this year. Her budget for the trip is about 8,000 yuan. She didn’t even entertain heading to Europe this year, as she said getting a visa might have been difficult.

Still, some European destinations are also expected to show growth, with Belgium, Spain, the United Kingdom and Italy topping the list of favored countries, according to data from Cirium and Trip.com.

Tourists making the longer flight to Europe are also willing more to fly in comfort. More travelers headed to Rome, London, Milan, Madrid, Brussels and Barcelona are splashing out on premium seats than they did in 2019 — even as most European destinations in economy class haven’t returned to pre-pandemic levels.

“We have observed a promising upswing in premium and business travel,” said Nan Dai, ForwardKeys’ China market analyst.

Other destinations that are expected to outpace 2019 levels show hints of geopolitical influence. Turkey, Hungary, Uzbekistan, Georgia, Saudi Arabia, Kyrgyzstan, Turkmenistan and Kazakhstan top the list of countries expected to see an increase in travel from China, according to Cirium. All are part of China’s Belt and Road Initiative.

Visitors to Hungary are expected to jump as flight capacity increases sixfold — the biggest growth of all countries — albeit off a low base.

“A lot of these countries are feeling a lot of love for China,” said Mark Tanner, managing director of Shanghai-based marketing firm China Skinny. “They are much more China friendly, which is adding to the appeal.” — Bloomberg

Meat-loving Argentines eat less beef amid triple-digit inflation

Argentine one hundred peso bills are displayed in this picture illustration taken Sept. 3, 2019. — REUTERS/AGUSTIN MARCARIAN/ILLUSTRATION

BUENOS AIRES — Argentines, famed for steakhouses, sprawling cattle ranches and asado barbecues, are consuming less beef than ever, forced to tighten their belts by triple-digit inflation and a recession.

Beef consumption is down almost 16% this year so far in the South American nation where beef has always been an essential part of the social fabric, along with soccer and mate tea.

Many Argentine homes have in-built parrilla grills where families gather. Steakhouses dot street corners around Buenos Aires and people will huddle around make-shift barbecues for a taste of beef, even on construction sites or at protests.

“Beef is an integral part of the Argentine diet, it is as if pasta were eliminated for Italians,” retiree Claudia San Martin, 66, told Reuters while waiting in line at the butcher shop. She said she was willing to cut back on other purchases such as cleaning products, but beef was sacred.

“Argentines can eliminate anything, I believe, in difficult times like this. But we can’t do without meat,” she said.

Still, the latest data show Argentines are this year eating beef at a rate of around 44 kilograms (97 lbs) per year, down sharply from more than 52 kg last year and as much as 100 kg a year in the 1950s.

Part of the long-term decline is a longer-term shift toward other meats like pork and chicken, as well as cheaper staples such as pasta. But this year’s plunge has been driven by nearly 300% inflation and a stalling economy along with tough austerity measures by libertarian President Javier Milei.

Poverty is up, more people are homeless in major cities and lines have grown at soup kitchens. Many families have reduced consumption of staples like meat, milk and vegetables. They say they are yet to feel the benefit of slowing monthly inflation.

“The situation right now is critical. Consumer are taking decisions thinking just about their wallets,” said Miguel Schiariti, president of local meat chamber CICCRA, who expected meat consumption to remain depressed.

“People’s purchasing power is weakening month by month.”

LESS MEAT, MORE PASTA
Out in the farmlands of Buenos Aires province, cattle ranchers are feeling the pinch.

“The drop in consumption is worrying,” said Luis Marchi, 48, an agricultural engineer and the third generation to run the family farming business producing grains and livestock.

“Beef consumption has been dropping quite sharply recently,” he added, blaming inflation and the economic slump. “Consumers try to replace beef with cheaper foods, other types of meat or pasta.”

Another rancher, 53-year-old Guillermo Tramontini, said input costs had risen while drought last year hit many herds.

“Beef is not that expensive, but people’s purchasing power has been reduced terribly,” he said, adding farmers were being careful with capital expenditure to avoid firing workers.

As local consumption has slid, exports have risen, but weaker global prices have dampened the boost for farmers. By far the top buyer of Argentine beef is China, though it imports cheaper cuts not used domestically.

“The export sector is going through a very tough time even though it keeps exporting big volumes. Prices in the international market have fallen a lot,” Mr. Schiariti said. 

‘CHEAPEST CUTS’
In his butcher shop in Buenos Aires where he has worked for 40 years, Gerardo Tomsin, 61, said people were still coming to buy beef, but were always hunting for cheaper deals.

“People keep coming, the issue is that they consume less. There are people who turn to other products. It is a permanent search for prices,” he said.

Another butcher Dario Barrandeguy, 76, said people were buying the cheapest cuts of beef or other less expensive meats.

“The consumption of chicken and pork has increased a lot recently,” he said.

Milei, a free market economist who calls himself an anarcho-capitalist, ended the previous Peronist government’s freeze on beef prices.

“Things have become very expensive and when it’s so costly we just don’t buy,” said Facundo Reinal, a 41-year-old teacher, adding it meant spending less time socializing around the grill

“We’re seeing overall people doing fewer barbecues, which is a key part of the culture here in Argentina.” — Reuters

Capri battles water emergency as it prepares to allow tourists back

People sit on a bench and take photos on Capri island, Italy, April 18, 2024. — REUTERS

MILAN — Tourists who have booked a hotel on Capri will be allowed back onto the Italian island as the local administration works to secure water supplies after damage to the aqueduct on the mainland deprived it of running water.

“We’re preparing a less restrictive new order to allow back residents, people who own second homes, which often have their own water tank, and tourists with a hotel booking. It will be the hotels’ responsibility to ensure they have water,” Capri mayor Paolo Falco told Italian news program TGCOM24. Earlier on Saturday Mr. Falco had issued an order that halted tourist arrivals after some pipes that burst in the coastal town of Castellammare di Stabia left Capri residents without water.

“We’ve been working through the night to … secure water shipments and tankers carrying water, which have been arriving. I apologize to everyone but there was nothing I could do … my priority had to be to prevent a healthcare emergency,” he added.

In May and June, Capri was the most popular Italian destination among foreign tourists, who accounted for 84% of total visitors to the country, according to a recent analysis from Lybra Tech, a company that provides tech solutions to hotels, and tax-free shopping data firm Global Blue.

Tourists on average spend four days on the island off the coast of Naples, with almost a third of them US nationals. — Reuters

Redefining customer interaction and business efficiency with AI

In the current business landscape, companies are increasingly focused on innovative strategies to enhance customer experience while improving operational efficiency. In the telecommunications industry, the integration of automation and artificial intelligence (AI) technologies has become a catalyst for personalized customer interactions, especially when it comes to providing real-time engagement, addressing billing inquiries, offering payment reminders, and creating personalized payment plans.

For leading telecommunications providers PLDT and Smart, using AI-powered conversational bots are seen as a very cost-efficient method to deliver personalized payment deadline reminders to their 4.5 million postpaid customers. This is why they collaborated with ePLDT, the ICT subsidiary of PLDT, to launch an advanced AI-driven initiative in November 2022 that revolutionized their collections process and offer a more convenient and efficient experience for their customers — in the form of the Intelligent Virtual Collections Assistant (VCA) program.

The VCA operates without supervision and can handle a wide range of customer interactions, from answering general questions about PLDT’s services to guiding customers through the payment process. The chatbots under VCA can also understand natural language and provide personalized responses, making it easier for customers to get the information they need quickly and efficiently.

The VCA also has AI-powered conversational bots, named Cindy, Celine, Cassie, and Chloe. They automate the collection reminder process while maintaining a high standard of customer experience. These bots engage customers in Taglish (a mix of Tagalog and English) and address inquiries naturally, often leaving customers in disbelief that they were interacting with a robot.

Additionally, they are capable of handling collections-related tasks such as reminding customers about their outstanding balances, providing payment options, and even scheduling payment arrangements. They can also send reminders starting from day 35 after the due date, with up to two daily calls if the outstanding balance remains unpaid. Customers can customize call attempts and preferred schedules for callbacks through live agents.

This helps the PLDT’s collections team to streamline the collections process and reduce the need for manual follow-ups.

According to the PLDT-Smart data, the implementation of the VCA program has yielded remarkable results, with a 222% increase in processed accounts and an 82% increase in productive calls per day.

Dianne Blanco, PLDT and Smart VP of Consumer Credit and Collection Account Management, said that since AI is efficient, both the company’s productivity and collections have increased substantially when they rolled out the service.

The success of the VCA program can be attributed not only to the advanced technology but also to the expertise and support provided by ePLDT. Despite the complexity of AI technologies, ePLDT’s expertise, partnerships, and existing infrastructure enabled the VCA program to be up and running in just six months — a timeline that is notably shorter than the years typically required to deploy and implement standard information and communication technology (ICT) solutions of similar scale.

John Palanca, PLDT and Smart SVP for Sales and Development, highlighted the critical role of having the right partner: “Working with ePLDT has allowed us to pioneer this AI-powered collections initiative. They collaborated with us from the start until full deployment. They continue to help ensure the success and efficiency of the Talkbot solution in production.”

ePLDT’s role extends beyond the initial implementation, with project managers continuously monitoring the bot’s analytics and readily adjust business strategies as needed. This ensures that the VCA program remains effective and efficient in achieving its goals.

The intelligent virtual collections assistant is currently available to all PLDT customers and can be accessed through the company’s official website and social media channels.

As PLDT continues to invest in digital technologies, it is expected that the program will play an increasingly important role in the company’s customer service and collections strategies going forward.

If you are ready to embark on your own digital success journey, visit https://www.epldt.com/cloud/conversational-ai/talkbot/ or email inquiry@epldt.com  to explore ePLDT’s talkbot solutions.

 

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DigiPlus joins DICT ‘Bayang Digital, Bagong Pilipinas’ NICT Month Celebration

DICT Asst. Secretary for Consumer Protection Wilroy Ticzon, DICT Asst. Secretary for Legal Affairs Renato Paraiso, and DICT Asst. Secretary for Infrastructure Management Philip Varilla join the BingoPlus Foundation team during the Bayang Digital, Bagong Pilipinas Expo.

DigiPlus Interactive Corp., through its social development arm BingoPlus Foundation, supports the Department of Information and Communications Technology’s (DICT) vision of creating a digitally advanced and resilient Philippines.

Further reinforcing its commitment to responsible digitalization, the company recently supported the DICT Expo: Bayang Digital, Bagong Pilipinas held last June 3 at the Philippine International Convention Center in Pasay City.

DigiPlus Interactive continues to multiply the fun by celebrating National ICT Month and promoting the importance of technology in extending limitless opportunities to Filipinos.

The Expo was part of a series of activities in celebration of the National Information and Communications Technology (ICT) Month, held June of every year, in accordance with Proclamation No. 1521, series of 2008. 

“As we continue to grow our market, we also recognize the need to provide a safer online environment for Filipinos everywhere. As a leading digital entertainment company, DigiPlus, through our Foundation, will continue to support programs, and improve our own initiatives to continuously pursue responsible digitalization in the country,” said Andy Tsui, Digiplus president and Bingoplus Foundation chairman.

This year’s National ICT Month, aptly themed, “Bayang Digital ang Bagong Pilipinas,” emphasized the importance of leveraging ICT and other means to provide efficient government services, enhance cyber safety, and extend limitless opportunities for Filipinos. Expo attendees include personalities from national government agencies, academe, and industry leaders in Information Technology (IT), Communications, and Technology.

Earlier this year, DigiPlus Interactive, through the BingoPlus Foundation, announced its plan to allocate more than P100 million for its advocacies to promote a digitally-advanced and resilient Philippines. Among its advocacy pillars are Technology Education and Responsible Digitalization, done in partnership with the public and private sector. 

FutureSmart Scholarships and the Coding for Kids program of BingoPlus Foundation aim to nurture the next generation of Filipino tech talents.

These programs include FutureSmart Scholarships and The PLUS Factor program to bridge quality education and leadership development with high-potential young tech talents. This National ICT Month, the Foundation also launched the Coding for Kids program to inject fun in STEM learning and inspire the youth to pursue an interest in tech.

Efforts to promote Responsible Digitalization include the Digi Buddy volunteer program to help equip target sectors with the right tools and behaviors as Filipino netizens and a Responsible Gaming campaign to teach the right habits when playing games online, encouraging Filipinos to multiply the fun by keeping it safe in the digital world.

DigiPlus Interactive will continue promoting responsible digitalization with the DICT through a TechTalk Series for youth leaders titled “Tech-Ready Youth: Empowering Responsible Skills.”

Digiplus Interactive and BingoPlus Foundation will continue to celebrate National ICT month with the DICT by joining its culminating activity — a TechTalk Series with youth leaders, titled “Tech-Ready Youth: Empowering Responsible Skills.”

 

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.

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Philippine business groups call for unity after South China Sea tensions

PHILIPPINE COAST GUARD/HANDOUT VIA REUTERS

MANILA – Philippine business groups said on Friday they deplored the harassment of the country’s military, in comments that come after a recent clash between navy personnel and the Chinese coast guard in the disputed South China Sea.

“We appeal for unity towards a non-violent resolution that respects our rights as a peace-loving nation,” the business groups said in a rare joint statement, which did not mention China by name. – Reuters

Vietnam says willing to talk to Philippines about Manila’s UN maritime claim

FISHERMEN from Masinloc, Zambales province in northern Philippines released on Monday an 18-foot-tall buoy on which it is written: “Atin ang Pinas” (The Philippines is ours). Fisherfolk in Zambales, whose coast faces the South China Sea, are protesting China’s “continued harassment” of Filipino fishermen at the Scarborough Shoal. — PHILIPPINE STAR/MICHAEL VARCAS

HANOI – Vietnam said on Friday it is willing to talk to the Philippines to seek measures that are in line with the interests of both countries, after Manila last week filed a claim with the UN to an extended continental shelf in the South China Sea.

“Vietnam once again affirms its sovereignty over the Hoang Sa and Truong Sa archipelagos in accordance with international law,” foreign ministry spokesperson Pham Thu Hang said in a statement posted on a government website, referring to the Paracel and Spratly Islands.

Vietnam and the Philippines are among the claimants to parts of the South China Sea, a busy global maritime waterway almost all of which is claimed by China.

The Philippines last week filed a claim with the UN to an extended continental shelf in the South China Sea, where $3 trillion worth of trade passes annually, and believed to be rich in oil and natural gas deposits, as well as fish stocks.

“Coastal states, when submitting their outer continental shelf boundaries, need to respect the legitimate rights and interests of other relevant coastal states with opposite or adjacent coastlines,” Hang said in the statement. – Reuters

 

 

Donald Sutherland, star of ‘M*A*S*H’ and ‘The Hunger Games’, dead at 88

Donald Sutherland accepting the Crystal Nymph Award | CC3.0: Attribution-Share Alike 3.0 Unported | source: https://commons.m.wikimedia.org/wiki/File:Donald_Sutherland.JPG

Donald Sutherland, one of Canada’s most versatile and gifted actors, who charmed and enthralled audiences in movies such as “M*A*S*H,” “Klute,” “Ordinary People” and “The Hunger Games,” has died at the age of 88.

The actor, whose lengthy career spanned from the 1960s into the 2020s, died on Thursday, his son, actor Kiefer Sutherland, said on social media.

A tall man with a deep voice, piercing blue eyes and a mischievous smile, Donald Sutherland switched effortlessly from character roles to romantic leads opposite the likes of Jane Fonda and Julie Christie. He also played his share of oddballs and villains.

One of the biggest stars in Hollywood in the 1970s, he remained in demand for film and TV projects into his 80s. Known for his unconventional looks and his versatility as an actor, Sutherland played a wide range of memorable characters.

These included a rascally Army surgeon in “M*A*S*H” (1970), a quirky tank commander in “Kelly’s Heroes” (1970), a small-town detective in “Klute” (1971), a stoned and libidinous professor in “Animal House” (1978), a local official facing an alien presence in “Invasion of the Body Snatchers” (1978) and a despairing father in “Ordinary People” (1980). He won a new generation of fans with his glorious portrayal of a despotic president in “The Hunger Games” (2012) and its sequels.

“I wish I could say thank you to all of the characters that I’ve played, thank them for using their lives to inform my life,” Mr. Sutherland said in his speech accepting an honorary Academy Award for lifetime achievement in 2017.

Kiefer Sutherland said his father was “never daunted by a role, good, bad or ugly.”

“He loved what he did and did what he loved, and one can never ask for more than that. A life well lived,” Kiefer Sutherland wrote on X.

Donald Sutherland was born on July 17, 1935, in Canada’s New Brunswick province, and was raised in Nova Scotia. He performed in school productions in college, moved to Britain to hone his craft, then moved to the United States, where his first big break came as a member of a top-notch ensemble cast in the war film “The Dirty Dozen” (1967).

He rocketed to fame three years later playing nonconformist surgeon Hawkeye Pierce in director Robert Altman’s Korean War satire “M*A*S*H” (1970). The film – later spun off into a TV series – depicted hijinks at a Mobile Army Surgical Hospital, tapping into the anti-war sentiment among many Americans during the Vietnam War era.

Also in 1970, Sutherland starred alongside Telly Savalas and Clint Eastwood in “Kelly’s Heroes” as Sergeant Oddball on a mission to steal gold from the Nazis.

The following year, he was paired with Fonda, one of Hollywood’s luminaries, in “Klute,” and then in 1973 played a grieving father in “Don’t Look Now” that included a sizzling sex scene with Christie. “Klute” sparked a romance with Fonda, with whom he was active in the anti-Vietnam War movement.

His 1978 films could not have been more different. In the uproarious comedy “Animal House,” Mr. Sutherland played a professor who sleeps with the girlfriend of a fraternity member. “Invasion of the Body Snatchers” was a successful sci-fi remake of a classic 1956 original, telling the story of alien pods that take over human beings.

Mr. Sutherland’s performance in “Ordinary People,” Hollywood superstar Robert Redford’s directorial debut, helped the 1980 film win four Academy Awards, including best picture. Sutherland starred alongside Mary Tyler Moore and Timothy Hutton in this exploration of the splintering of a Midwestern family.

In the 1990s he appeared in films including “JFK” (1991), “Backdraft” (1991), “Buffy the Vampire Slayer” (1992), “Outbreak” (1995), “A Time To Kill” (1996) and “Instinct” (1999) and won an Emmy Award for his performance in the 1995 HBO TV movie “Citizen X.” In the 2000s, he appeared in the acclaimed “Cold Mountain” (2003) and “Pride & Prejudice” (2005).

In the “Hunger Games” films in the 2010s about a dystopian future in which teenagers are sent into a deadly competition as mass entertainment, he reveled in playing the villainous President Coriolanus Snow.

“The reality was he had a country to run. At least he was running it, which is more than you can say for some people,” Mr. Sutherland told the Los Angeles Times in 2017.

“It was funny at the beginning with ‘The Hunger Games’ to walk through an airport and suddenly you feel this tug and you look down and it’s some young person – always a girl, never a boy,” Mr. Sutherland said. “And her mother is standing there and they say, ‘Could you take a photograph with my daughter?’ And we’d be standing beside each other and I’d be looking at the camera and the girl would say, ‘Could you look mean?'”

Tributes to Mr. Sutherland came in across Hollywood and Canada on Thursday.

Ron Howard, who directed Sutherland in “Backdraft,” called him “one of the most intelligent, interesting and engrossing film actors of all time.”

Mr. Sutherland had “incredible range, creative courage & dedication to serving the story & the audience with supreme excellence,” Mr. Howard wrote on X.

Canadian Prime Minister Justin Trudeau, speaking to reporters in Nova Scotia, said Sutherland “was a man with a strong presence, a brilliance in his craft and truly, truly a great Canadian artist.”

Mr. Sutherland was considered among the best actors to never receive an Academy Award nomination for any of his roles. He was married three times and had five children, including Kiefer. –Reuters

Building permit approvals pick up by 12.8% in April

By Karis Kasarinlan Paolo D. Mendoza

APPROVED building permits rose by 12.8% in April, a reversal from a 12.2% drop a year ago, the Philippine Statistics Authority (PSA) said in a report on Wednesday.

Preliminary data showed that building projects covered by the permits totaled 13,332 in April from 11,822 a year ago.

April’s year-on-year growth was also a turnaround from the revised 14.2% contraction in March.

Building projects in April covered 3.35 million square meters (sq.m.) of floor area, up by 35.5% year on year.

Construction projects represented by the permits were valued at P39 billion, up 30.8% from P29.82 billion a year ago.

The double-digit year on year growth rate in building permits is partly due to lower base effects amid the continued growth in the country’s economy as reflected by the gross domestic product (GDP), as well as the recovery of many industries with the lifting of Covid-related restrictions in July 2023, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said in an e-mail.

“The economy continued to recover and continued to benefit the [real estate and property] industry, especially in high-growth areas around the country as manifested by the boom in [real estate and property] prices in recent [months],” he added.

The country’s economy grew by 5.7% in the first three months of the year.

Permits for residential projects, which accounted for 65.7% of the total, rose 9.6% to 8,764.

These projects were valued at P17.09 billion, against the P12.95 billion recorded a year earlier.

Single homes made up 82.2% of the residential category with approved permits inching down by 0.2% to 7,202.

Applications for apartment buildings grew by 111.1% to 1,421 while applications for duplex or quadruplex homes were up by 36.8% and totaled 130.

Nonresidential projects likewise grew 18.3% year on year with 3,057 permits accounting for 22.9% of the total.

Nonresidential permits were valued at P17.54 billion, jumping 27.2% from P13.79 billion in April last year.

Approved commercial construction applications made up 70.8% of nonresidential projects, up 17% to 2,165.

Institutional and industrial permits rose 34.9% and 23.4% to 468 and 243, respectively.
Alteration and repair permits amounted to 927, up 16.6% annually and valued at P3.21 billion.

Permits for addition — construction that increases the height or area of an existing building — jumped 31.2% to 584.

Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon) had the most approved construction projects, making up 25% of the total with 3,339 permits, followed by Central Luzon (2,076 permits), and Central Visayas (1,558 permits).

Mr. Ricafort expects US and local interest rates to affect construction activities and building permits in the future.

“Going forward, any possible cut in [US] interest rates later in 2024 and in 2025 that could be matched locally, would eventually help spur greater demand for [loans] that could lead to more [construction] activities and the necessary permits,” he said.

The Fed kept its policy rate at 5.25-5.5% on June 12, pushing rate cuts to as far back as December, Reuters reported.

The PSA said that construction statistics are compiled from the copies of original application forms of approved building permits as well as from the demolition and fencing permits collected every month by the agency’s field personnel from the offices of local building officials nationwide.

Why food prices will remain high in India

STOCK PHOTO | Image by jorono from Pixabay

Food inflation in India, driven by supply-side factors like adverse weather affecting crops, has remained at around 8% year-on-year since November 2023 and is unlikely to ease any time soon, despite early arrival of monsoon rains and forecasts of above-normal rainfall.

Elevated prices of food, which accounts for nearly half of the overall consumer price basket, has kept headline inflation above the central bank’s target of 4%, preventing it from cutting interest rates.

 

WHAT IS DRIVING FOOD INFLATION HIGHER?

A drought last year and an ongoing heat wave have significantly reduced the supplies of foods like pulses, vegetables, and cereals.

Curbs on food exports and reducing tariffs on imports have had little effect.

Although vegetable supplies generally decrease during the summer months, this year’s decline is much more pronounced. Temperatures in nearly half of the country are soaring 4-9 degrees Celsius above normal, spoiling harvested and stored vegetables and hindering the planting of crops such as onions, tomatoes, eggplant and spinach.

Farmers usually prepare vegetable seedlings before the June-September monsoon rains and transplant them to the main fields afterward. However, this year, the excessive heat and water scarcity have disrupted both seedling planting and replanting, further exacerbating the shortage of vegetables.

 

WHY HAS THE MONSOON NOT HELPED?

The annual monsoon, on which India’s agricultural output is dependent, arrived early in the southern tip of the country and advanced swiftly to cover the western state of Maharashtra ahead of schedule. However, this initial momentum soon waned, resulting in a 18% rainfall deficit so far this season.

Besides triggering the heat wave, the weakened monsoon has delayed the planting of summer-sown crops, which can only proceed at full pace with sufficient rainfall.

Despite June’s patchy rains, India’s weather office has forecast above average rainfall for the rest of the monsoon season.

 

WHEN WILL PRICES COME DOWN?

Vegetable prices are expected to fall from August onwards if the monsoon revives and covers the entire country as per the usual schedule. However, floods or a prolonged dry spell in July and August could disrupt the production cycle.

Prices of milk, cereals and pulses are unlikely to decrease soon due to tight supplies. Wheat supplies are dwindling, and the government has announced no plans to import grain, which will allow wheat prices to rise further.

Rice prices may increase as the government on Wednesday raised the minimum support price, or buying price, of paddy rice by 5.4%. Supplies of pulses, such as pigeon peas, black matpe and chickpeas, were severely affected by last year’s drought, and will not improve until the new season crops are harvested.

Sugar prices are likely to remain high as next season’s production is expected to fall due to lower planting.

 

CAN GOVERNMENT INTERVENTION HELP?

Yes, government interventions such as restricting exports and easing imports can help bring down the prices of some food commodities. However, the government can do little when it comes to prices of vegetables, which are highly perishable and difficult to import.

The government has implemented various measures to bring down food prices by restricting exports of sugar, rice, onions and wheat. However, these measures have proved unpopular among farmers, and led to losses in the general election for the ruling Bharatiya Janata Party in rural areas.

State elections are approaching in Maharashtra and Haryana, where a significant farmer population will decide the outcome. The central government has been trying to win back farmers’ support and may allow prices of some crops to rise instead of taking aggressive measures before the elections, which are due in October. – Reuters

 

Hawaii agrees to ‘groundbreaking’ settlement of youth climate change case

STOCK PHOTO | Image by coyotelang from Pixabay

Hawaii on Thursday agreed to take action to decarbonize its transportation system by 2045 to settle a lawsuit by 13 young people alleging the US state was violating their rights under its constitution with infrastructure that contributes to greenhouse gas emissions and climate change.

Democratic Governor Josh Green announced the “groundbreaking” settlement at a news conference attended by some of the activists and lawyers involved in the lawsuit, which they called the first-ever youth-led climate case seeking zero emissions in transportation.

They argued that the state had prioritized infrastructure projects such as highway construction and expansion that lock in the use of fossil fuels rather than focusing on projects that cut carbon emissions.

“We’re addressing the impacts of climate change today, and needless to say, this is a priority because we know now that climate change is here,” Mr. Green said. “It is not something that we’re considering in an abstract way in the future.”

The case had been set for trial on Monday. It would have been the second-ever trial in the United States of a lawsuit by young people who claim their futures and health are jeopardized by climate change and that a state’s actions violated their rights.

As part of the settlement, Hawaii will develop a roadmap to achieve zero emissions for its ground, sea, and inner island air transportation systems by 2045, the year by which the state was already aiming to become carbon neutral.

The agreement, which can be enforced in court, calls for the creation of a volunteer youth council to advise the state’s Department of Transportation, which committed to reworking its planning to prioritize reducing greenhouse gasses and creating a new unit dedicated to decarbonization.

The department also plans to dedicate at least $40 million to expanding the public electric vehicle charging network by 2030 and accelerate improvements to the state’s pedestrian, bicycle and public transit networks.

Leinā’ala Ley, a lawyer for the youth activists at Earthjustice, said the “agreement gives Hawaii a boost in our race against climate disaster and offers a model of best practices that other jurisdictions can also implement.”

The case is one of several by young environmental activists in the United States that broadly accuse governments of exacerbating climate change through policies that encourage or allow the extraction and burning of fossil fuels.

The young people, also represented by the nonprofit law firm Our Children’s Trust, claim the policies violate their rights under U.S. or state constitutions.

The cases have raised novel legal claims and have been dismissed by several courts. But the young activists scored a major victory last year when the first such case went to trial in Montana.

In that case, a Montana judge concluded that the Republican-led state’s policies prohibiting regulators from considering the impacts on climate change when approving fossil fuel projects violate the rights of young people.

The lawsuit against Hawaii was filed in 2022 and alleged the state Department of Transportation was operating a transportation system that ran afoul of state constitutional mandates and impaired their right to a life-sustaining climate.

The plaintiffs, ages 9 to 18 when the case was filed, argued that the state was violating a right guaranteed by the Hawaii Constitution to a clean and healthful environment and its constitutional duty to “conserve and protect Hawaii’s natural beauty and all natural resources.”

The state spent $3 million fighting the case and seeking its dismissal, arguing the zero emissions target and other state laws adopted by the state legislature promoting reduced carbon emissions were “aspirational” and could not form the basis of claiming the state was violating the young people’s rights.

But Judge Jeffrey Crabtree in Honolulu rejected that argument in April 2023, saying the laws required timely planning and action to address climate change and that the state’s inactions had already harmed the plaintiffs.

“Transportation emissions are increasing and will increase at the rate we are going,” Mr. Crabtree said. “In other words, the alleged harms are not hypothetical or only in the future. They are current, ongoing, and getting worse.” – Reuters

Honoring Apostle Arsenio Ferriol: Commemorating a spiritual leader

Thousands of PMCC 4th Watch members bid farewell to their spiritual leader.

PMCC 4th Watch bids farewell to its father in faith

The Pentecostal Missionary Church of Christ (PMCC 4th Watch) bids a solemn farewell to Apostle Arsenio T. Ferriol, who passed away on May 19, 2024. His final resting place will be in the mausoleum built inside the Apostle Arsenio T. Ferriol (AATF) Sports Complex in Imus, Cavite.

Following his demise, 14 days of mourning was observed, during which thousands of faithful followers gathered to pay their respects and honor the legacy of the revered Apostle. This was followed by another 14 days dedicated to celebrating his remarkable life and profound contributions to the church and its members.

Chief Executive Minister, Bishop Jonathan S. Ferriol, expressed his gratitude for the outpouring of support and love from both members of the church and the public. He assured them that despite the loss of their beloved leader, the entire church leadership is committed to carrying on Apostle Ferriol’s legacy and continuing his important work.

Thousands flocked to the AATF Sports Complex to pay their last respects and honor his memory. His passing has deeply affected not only the members of the PMCC (4th Watch) but also the wider community, reflecting the profound impact he had on countless lives.

In a statement of unwavering faith, Bishop Jonathan S. Ferriol said, “Although we mourn the loss of our beloved Apostle, we take comfort in knowing that he has gone to be with the Lord. His legacy of faith, compassion, and service will continue to inspire and guide us in the days ahead. Let us honor his memory by remaining steadfast in our commitment to God and His work.”

The funeral service and interment of Apostle Ferriol were marked by both solemnity and celebration as the PMCC (4th Watch) community came together and bid farewell to their esteemed leader.

In addition to the formal ceremonies, the PMCC (4th Watch) has organized various activities to commemorate Apostle Arsenio Ferriol’s remarkable contributions. Special prayer vigils, community service events, and memorial lectures are planned to reflect on his teachings and the values he instilled in his followers. These events aim to not only honor his memory but also to strengthen the bonds within the church community and encourage continued spiritual growth among its members.

Apostle Arsenio Tan Ferriol, Goodman of the House

Apostle Ferriol’s teachings focused on the importance of living a life of faith, service, and compassion. His emphasis on missionary work and outreach programs has left an indelible mark on the PMCC (4th Watch), fostering a culture of helping those in need and spreading the message of hope and love. His legacy is evident in the countless lives he touched, both within the church and beyond, through his tireless dedication and unwavering commitment to his faith.

As the community said their final farewell, many shared personal stories and testimonies of how Apostle Ferriol’s guidance and mentorship transformed their lives. These heartfelt tributes have been compiled into different commemorative materials that have been sent to the family of Apostle Ferriol. Some members created paintings, composed songs, videos, and memoirs to show their respect and love for their father in faith and to honor Apostle Ferriol’s enduring influence and the profound impact he had on their lives.

“The barrio boy who became a titan of faith is coming home to his Jesus. My father, my mentor, the barrio boy who was called to become an apostle of God, lived his life serving the Lord, his family, and the community. Though we mourn his passing, we also celebrate the life he lived, for he did his best to do his calling and purpose, and that’s to spread the Gospel in all corners of the world,” Bishop Ferriol stressed.

Church Council and sons of Apostle Arsenio Tan as pallbearers

In the days leading up to the funeral, the church’s social media platforms have been flooded with messages of condolences and support from around the world. Followers shared memories, photos, and videos, creating a digital archive that celebrates the life and legacy of Apostle Arsenio T. Ferriol. This global outpouring of love and respect underscores the far-reaching impact of his ministry and the deep sense of loss felt by the PMCC (4th Watch) congregation.

As the sun set yesterday, the PMCC (4th Watch) came together in unity and faith, drawing strength from each other and from the enduring legacy of their beloved Apostle. Though he may have departed from this world, his spirit and teachings will continue to guide and inspire, lighting the path for future generations to follow.

 

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