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Thailand car production falls 13.6% in February

ELECTRIC VEHICLE (EV) cars are pictured inside BYD’s first EV factory in Southeast Asia in Rayong, Thailand, July 4, 2024. — REUTERS

BANGKOK — Car production in Thailand dropped 13.62% in February from a year earlier, as a lengthy decline in domestic sales and exports squeezed output for a 19th straight month, the Federation of Thai Industries (FTI) said on Tuesday.

The fall in production to 115,487 units, however, was smaller than January’s 24.63% year-on-year slump.

Thailand is Southeast Asia’s biggest auto production center and an export base for some of the world’s top automakers, including Toyota and Honda.

“The less negative figures in February are not a sign of recovery yet because the numbers are very negative and rejection rates of autos loans are still high,” Surapong Paisitpattanapong, spokesperson for the FTI’s automotive industry division, told a press conference.

“We have to wait and see in March for a clearer picture,” he said, adding there were more working days in February than in January.

Domestic car sales dropped 6.68% in February from a year earlier to 49,313 units, after a drop of 12.26% in the previous month, weighed down by tightened auto loans, particularly for pickup trucks, due to high household debt, the federation said.

Thailand’s household debt stood at 16.34 trillion baht ($481 billion) at the end of September 2024, or equivalent to 89% of gross domestic product, among the highest ratios in Asia.

A government guarantee for pickup truck loans should help sales and the overall economy, Surapong said. Domestic sales typically account for just under half of Thailand’s output and about a third of vehicles sold at home are pickup trucks.

Exports fell 8.34% in February from a year earlier to 81,323 units after a drop of 28.13% the previous month, due mainly to increased competition from Chinese car brands and emission controls in some countries, Surapong said.

The federation will closely monitor the United States’ policy on auto tariffs, he said.

Last month, US President Donald J. Trump said levies on automobiles would come as soon as April 2.

The federation has forecast car production to rise 2% this year after declining 20% in 2024 to record the lowest output in four years. — Reuters

Pope Francis returns to Vatican, but remains out of public view

VATICAN CITY — After 38 days in hospital battling double pneumonia almost entirely out of sight. Pope Francis made his first public appearance on Sunday since Feb. 14 and returned to the Vatican.

But with his doctors prescribing the 88-year-old pontiff another two months of rest to allow his ageing body to fully heal, it is unclear how often people will get to see the leader of the world’s 1.4 billion Catholics in the coming weeks.

The pope left Rome’s Gemelli Hospital on Sunday and returned to the Casa Santa Marta (St. Martha’s House), a small building at the Vatican which has been his home since his election as pontiff in 2013.

Constructed in 1996 as a place for cardinals to stay during a papal conclave to elect a new pope, Santa Marta is structured like a hotel, with guest rooms across five floors, a small cafeteria and a chapel.

But the facility is not generally open to the public. In the years between conclaves, it is primarily a home for many of the priests who work at the Vatican, who have special passes allowing them entry.

The pope and his closest aides occupy a series of rooms on the building’s second floor. In his private quarters, Francis has lived relatively unassisted up to now, taking care of many of his own needs, and is largely out of public view.

The Vatican has indicated that no new special arrangements have been made to the facility to care for Francis as he recovers from pneumonia.

The only change was to install a new adjustable bed, with electronic controls to make it more accessible for the pope, who has used a wheelchair in recent years, Italy’s Corriere della Sera reported on Sunday.

The vice director of the Vatican’s healthcare service, Luigi Carbone, told reporters on Saturday that Francis will have a 24-hour nurse and will continue receiving supplemental oxygen, as needed.

‘SO LONG AS GOD WISHES’
It is unknown how closely Francis, who has a reputation for working himself to exhaustion, will follow his doctors’ orders to take two months of rest.

“I think that for the moment we will only bring to him the most important issues that require a decision from him, so as not to tire him too much,” Cardinal Pietro Parolin, the Vatican’s number two official, told reporters.

The pope had continued leading the global Church even from hospital, making usual appointments of Catholic bishops around the world and also launching a new three-year reform process for the institution.

Normally, Francis has at least two public events per week — an audience at the Vatican with pilgrims each Wednesday, and a prayer in St. Peter’s Square each Sunday. During past illnesses, the pope has kept up those appointments, sometimes via video link from Santa Marta when he is particularly sick.

The Vatican has given no indication about what to expect about the pope’s planned agenda in the coming weeks, including a meeting with Britain’s King Charles on April 8 and Easter celebrations on April 20.

“I hope that at least he will be able to say hello to him,” Mr. Parolin said about Francis’ scheduled audience with the British monarch.

Francis, originally from Argentina and the first pope from the Americas, is also the first pope in more than a century to live outside the Vatican’s apostolic palace, an ornate Italian Renaissance building located next to St. Peter’s Square.

The pope has said he lives in Santa Marta, located on the Vatican’s south wall near the city-state’s small train station, because he likes being around other people.

“I’m happy at Santa Marta because I have people around me,” Francis wrote in an autobiography released earlier this year. “I’ll be there so long as God wishes.” — Reuters

US government could face default risk as soon as July, analyst projects

PHILSTAR FILE PHOTO

WASHINGTON — The US government will risk defaulting on some of its $36.6 trillion in debt sometime between mid-July and early October unless Congress acts to raise the cap on Washington’s borrowing limit, the Bipartisan Policy Center (BPC) think tank projected on Monday.

Lawmakers have repeatedly taken negotiations over raising the government’s borrowing limit to the last minute, a trend that has rattled financial markets and led the major credit agencies to lower their ratings on the federal government’s credit worthiness.

The brinkmanship has continued despite the fact that Congress’ own decisions, both to authorize new spending and to cut taxes, have pushed the national debt higher.

The nonpartisan Congressional Budget Office on Wednesday will make its own projection for the so-called X-date, when the Treasury Department is no longer able to cover all of its obligations, according to a spokesperson.

“Lawmakers cannot afford to delay action on the debt limit,” Shai Akabas, vice president of economic policy at BPC said in a statement. “Addressing debt limit well ahead of the X Date should rise to the top of the priority list.”

The US has never defaulted on its debt and global financial markets become jittery if there is even a whiff of that potentially occurring.

A 2023 debt ceiling showdown pushed the US to the brink of default and hurt its credit rating.

It is difficult to nail down a precise X-date because it depends upon several factors, including the flow of tax receipts with the mid-April deadline for Americans to file their annual tax returns.

This year, several other factors will play into the deadline, including signs of a softening economy and the imposition of US tariffs on foreign goods by President Donald J. Trump.

Also, tax filing extensions to help victims of recent natural disasters are also playing into the flow of revenues into government coffers.

BPC noted that while unlikely, there is the potential for an early June X-date if tax collections lag behind estimates ahead of quarterly receipts on June 15. — Reuters

Wildcard historic run goes on

WILDCARD ENTRY Alexandra Eala — WTA/JIMMIE48

Battles idol world No. 2 Iga Swiatek in quarterfinals

AND NOW, an idol turns into a rival for the Filipina tennis sensation.

Like a destiny written in the stars, wildcard entry Alexandra “Alex” Eala will take on her inspiration and world No. 2 Iga Swiatek of Poland in the biggest match of her career thus far for another shot at history in the quarterfinals of the 2025 Miami Open at the Hard Rock Stadium in Florida.

Ms. Eala, WTA No. 140, gained a passage into the Last 8 on Tuesday via walkover after Spain’s Paula Badosa, world No. 10, withdrew due to a lower back injury to pave the way for a collision against Ms. Swiatek, who dispatched world No. 22 Elina Svitolina of Ukraine, 7-6 (5), 6-3, in the Round of 16.

The Pinay teen pride is coming off two straight monumental feats against top-ranked players and former Grand Slam champions as well but Ms. Swiatek, winner of five Grand Slams and was the No. 1 player for 125 weeks before sliding to second, will serve as Ms. Eala’s greatest and toughest opponent in her budding career just yet.

A wildcard ace versus a tennis heavyweight is the name of the game on Thursday at a still-to-be-determined game time for a seat in the Final Four.

“The atmosphere the past few days have been completely amazing. It’s crazy to think that I made my main draw debut here in 2021 and now I’m into the quarterfinals,” said Ms. Eala.

“It’s such a full circle moment, and I hope you guys can all support and come along on the journey.”

It’s the first head-to-head duel for Mses. Eala and Swiatek albeit they had crossed paths off the court in the past.

Ms. Eala trained with Ms. Swiatek before her Miami Open debut in 2021 and met again in 2023 when Ms. Eala graduated from the Rafael Nadal Academy in Spain that also produced the Polish superstar.

Ms. Swiatek then served as the keynote speaker in the ceremony attended by Mr. Nadal himself. Now, she faces a protégé in Ms. Eala, only 19 years of age and one of the only eight wildcards in the Miami Open.

And Ms. Eala is undeterred, having a massive momentum to ride on after slaying world No. 5 and reigning Australian Open champion Madison Keys of the United States, 6-4, 6-2, in the Round of 32.

She also blasted world No. 25 and 2017 French Open champion Jelena Ostapenko of Latvia, 7-6(2), 7-5, in the Round of 64, to become the first Filipina player ever to beat a Top-25 and Top-5 player. Before that, she scored a big win over world No. 73 Katie Volynets of the United States, 6-3, 7-6(3), in the Round of 128.

Overall, Ms. Eala has yet to drop a single set in stellar Cinderella run and she wants more — even if it means taking care of her idol-now-turned rival. — John Bryan Ulanday

Gin Kings brace for tough Game 6 battle with Tropang Giga

Game on Wednesday
(Smart Araneta Coliseum)
7:30 p.m. – Ginebra vs TNT
(Ginebra leads series, 3-2)

LAST TWO TIMES they faced off — both for the PBA Governors’ Cup diadem — TNT finished off Barangay Ginebra in the sixth game.

Holding the 3-2 upper hand this time, the Gin Kings seek to deal the Tropang Giga the same fate in Wednesday’s Game 6 as they attempt to crown themselves Season 49 Commissioner’s Cup rulers.

Coach Tim Cone’s charges are hunting for their first hardware since beating Hong Kong’s Bay Area Dragons in the Season 47 Commissioner’s Cup championship capped by a record Game 7 crowd of 54,589 in January 2023.

“Me and my teammates are inspired and we want to give our all (to win) this championship. Whatever it takes,” said Ginebra star Scottie Thompson.

Such mantra is best manifested by import Justin Brownlee (JB), who has been bucking through a dislocated right thumb in leading Ginebra to back-to-back 95-78 and 73-66 victories that got them on the doorstep of glory.

JB is determined to bring this one home at the end of the 7:30 p.m. tiff at the Smart Araneta Coliseum before getting his battered finger fixed surgically.

“Our mentality is this is going to be the toughest we have to play all conference, maybe 10 times as tough as any game,” said Mr. Brownlee, who owns six PBA titles but has a 0-2 record when facing TNT’s Rondae Hollis-Jefferson (RHJ) in the finale.

“The guys are ready to go. We’re confident. We’re up 3-2 but we’re a long way from being satisfied.”

The embattled Tropang Giga vowed to “fight like hell” to force a Game 7 sudden death on Friday.

“We just need to regroup. This is not over — they need four wins to win the championship,” said TNT mentor Chot Reyes, who requires his troops to sharpen up as they try to salvage this after blowing a 2-1 lead. “It’s a tough team that we’re playing. We can’t make the mistakes we’re making against the ‘national team.’ We’re playing Gilas (Pilipinas), the first five, so we have a very small room for error.”

RHJ can’t emphasize more the need to “lock in” for the game of their lives.

“We lose the next game, it’s over. So it’s all or nothing for us,” said the three-time Best Import. — Olmin Leyba

Gauff falls on hard day for Americans in Miami

COCO GAUFF lost to unseeded Magda Linette 6-4, 6-4 on Monday as she missed out on a place in the Miami Open quarterfinals after a tough day for Americans as holder Danielle Collins, Amanda Anisimova and Ashlyn Krueger also went out in straight sets.

Gauff, seeded third, struggled mightily with her serve, committing 12 double faults and putting just half of her first serves into play while unforced errors piled up against her 34th-ranked Polish opponent.

Linette held her nerve as the South Florida crowd came alive after Gauff pulled ahead 4-3 in the second set and the Pole ultimately prevailed to notch her first win over a top-three player since 2021.

“It was really important for me to keep pressing Coco’s serve to make sure she feels the pressure,” Linette said.

Next up for Linette is Italian sixth seed Jasmine Paolini, who beat Japan’s Naomi Osaka 3-6, 6-4, 6-4 earlier on Monday.

Top seed Aryna Sabalenka crushed 23 winners including seven aces to overpower defending champion Collins 6-4, 6-4 to reach the quarterfinals where she will meet Zheng Qinwen, who beat Krueger 6-2, 7-6(3) in their round of 16 match.

World number one Sabalenka will be a heavy favorite against Zheng, who has never beaten the Belarusian in five previous career meetings.

Former champion Iga Swiatek came through a tight first set before dispatching Ukraine’s Elina Svitolina 7-6(5), 6-3 shortly after midnight, the Pole signed off by writing “time to sleep” on a camera lens.

Jessica Pegula was left to fly the flag for the US women after she won the final six games of her match to see off Ukrainian Marta Kostyuk 6-2, 6-3.

Pegula, seeded fourth, meets Briton Emma Raducanu next after the former US Open champion beat Anisimova 6-1, 6-3 in hot and humid conditions.

Raducanu did not drop a point on serve in the first set against the 17th seed and outmaneuvered her in a rally on match point to seal the win.

It will be the first quarterfinal of a WTA 1000 event for the 22-year-old Raducanu, who has split her two previous career meetings with Pegula. — Reuters

Magic blast visiting LA Lakers

POWERED by 32 points from Franz Wagner, 30 from Paolo Banchero and a monster third quarter, the Orlando Magic blew past the visiting Los Angeles (LA) Lakers 118-106 on Monday night.

The victory snapped a six-game home losing streak for the Magic (34-38).

Luka Dončić matched Wagner with 32 points for the Lakers (43-28), while LeBron James added 24 but the Lakers faltered on defense in the second half, allowing the Magic to take over.

Down two at halftime, Orlando broke things open in the third quarter with a 13-2 run to build an 84-72 lead. That advantage grew to as much as 17 as Orlando outscored the Lakers 34-18 in the quarter.

Before the game, former Orlando Magic star and 2004 No. 1 overall pick Dwight Howard, who finished his career with the Lakers, was inducted into the Magic’s Hall of Fame. — Reuters

NCRAA kicks off 31st season next month

THE National Capital and Regional Athletic Association (NCRAA) will hold its 31st season with Immaculada Concepcion College eyeing a three-peat feat in basketball starting early next month at a still unspecified date.

NCRAA General Manager Buddy Encarnado said the league would continue to help the country produce potential national team players not just in basketball but in other sports as well since they also have volleyball, chess, table tennis, badminton and swimming.

“The NCRAA 31st season, in spite and despite all the obstacles and challenges, will continue to make sure that we will have our share in contributing in the field of sports not only in basketball but in other disciplines as well,” said Mr. Encarnado, who was accompanied by a group of NCRAA officials including new president Gerry Sergio of De La Salle University-Dasmariñas.

Mr. Encarnado said the league changed its name since it has accepted schools outside the National Capital Region like La Salle-Dasma, Lyceum of the Philippines-Laguna, University of Luzon-Dagupan and Emilio Aguinaldo College-Cavite.

PATTS, PMMS, AIMS, Olivarez College and Bestlink College of the Philippines are the other members.

The league will employ a single-round robin format, knockout quarter and semifinals and best-of-three finals. — Joey Villar

Mavs on Davis

Anthony Davis wasted no time getting acquainted with the rim on Tuesday. After having missed games over six weeks due to an adductor strain, he found himself scoring four points in the first minute of the Mavericks’ set-to against the Nets — both off timely feeds from teammates clearly looking for him close to the basket. He would wind up with modest numbers — 12, six, and three in 26 minutes all told, but there could be no doubting his importance to the blue and white, as evidenced by his plus-12 rating at the buzzer, best among starters.

Interestingly, the Mavericks appeared to be consigned to having Davis sidelined for the rest of the season. They understandably wanted to approach his convalescence with caution; after all, he wound up getting injured in his very first outing for them following his acquisition at the trade deadline. Insofar as he was concerned, however, there would be no baby steps. Even early on in his recovery, he resolved to play as soon as he was cleared. Regardless of their status in league standings, he believed his presence to be indicative of his determination to lead them past the Luka Dončić era.

Needless to say, the Mavericks need Davis for the remainder of the season if they are to secure, at the very least, a spot in the play-in. They’re currently half a game behind, but may yet wind up with an outright berth in the playoffs (not to mention homecourt advantage in the first round) if things fall their way. They certainly deserve a break or two; the roster upheaval has been such that they remain in danger of forfeiting matches. In this regard, he is already helping simply by being available.

For the Mavericks, finishing their 2024-25 campaign with a bang lends credence to their contention that they moved on from Dončić for immediate gains. And for all his seeming inability to stay healthy, Davis deserves major props for his desire to shape the narrative in their favor. Not that he has any choice. Their advancement is his advancement. For better or worse, he’s is it for them, and they are it for him.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

DigiPlus uplifts communities through P100M commitment to community projects

DigiPlus Interactive, through its social development arm, BingoPlus Foundation, is transforming communities and creating lasting impact with its P100 million commitment in 2024 to support education, disaster relief, and livelihood programs, benefitting the lives of over 120,000 Filipinos across the country.

In 2024, DigiPlus launched PLUS Centers across the country, providing free internet access, digital literacy training, and educational resources to underserved communities. These centers serve as safe learning spaces where students and job seekers can develop the skills needed to thrive in the digital age.

At the heart of its education initiatives is the PLUS Factor Scholarship Program, which empowers over 60 students nationwide, providing full scholarships, financial assistance, and mentorship opportunities to deserving Filipino students. By investing in the next generation of leaders in STEM, business, and digital innovation, DigiPlus is helping build a knowledge-driven economy.

Following Typhoon Kristine, DigiPlus allocated P37 million in emergency aid, delivering critical relief, rebuilding support, and sustainable livelihood assistance to affected communities. This initiative reflects the company’s commitment to long-term resilience and disaster recovery efforts. Additionally,

Beyond disaster relief, DigiPlus invests in sustainable livelihood programs, equipping individuals with resources, training, and tools to achieve economic independence. Through skills development and job readiness initiatives, the company is creating opportunities that uplift families and empower local communities.

“True success is measured not just by business growth, but by the impact we make in people’s lives,” said DigiPlus Chairman Eusebio Tanco. “Through the BingoPlus Foundation, we are empowering scholars, bridging the digital divide, rebuilding communities, and creating sustainable livelihood opportunities. This is how we make a difference.”

With its focus on education, digital access, disaster resilience, and community empowerment, DigiPlus is building a brighter future for Filipinos, one initiative at a time.

 

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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How research translates to real-life benefits

From PhilHealth benefits to knee implants, the Philippine Council for Health Research and Development (PCHRD)’s research has translated to real-life benefits for Filipinos, according to its executive director III Dr. Jaime C. Montoya.

The Department of Science and Technology’s PCHRD celebrated its 43rd anniversary this month.

Interview by Patricia Mirasol
Video editing by Jayson Mariñas

Philippine Blockchain Week, Tier One Entertainment and SMX Convention Center enter three-way agreement

Strategic collaboration to drive Web 3 adoption

It’s one of the year’s biggest mash-ups under one massive arena. Philippine Blockchain Week (PBW) partners with Tier One Entertainment fusing fintech, gaming and entertainment into one huge tech and fandom event. Already gaining renown as one of the fast-growing events on the local and regional sphere, PBW2025 launches its third year driving global conversation around the evolution of blockchain technology. Tier One, a gaming and entertainment brand with over 1,000 media, esports and retail creators, collaborates with PBW for the first time.

Dubbed “DECODED: Unlocking Blockchain’s Potential,” PBW returns after a year of roadshows across the country and is set to stage on June 10-11, 2025 at the SMX Convention Center Manila. DECODED signifies the blockchain and fintech communities’ commitment to break down blockchain for the public. With esports and gaming enthusiasts accounting for a significant number of blockchain users, the PBW and Tier One partnership promises to be a driving force in the mass adoption of blockchain.

Says Janelle Barretto, Co-Founder of Philippine Blockchain Week, “The success of emerging technologies [such as blockchain] is mass adoption, and collaboration is paramount in achieving this goal. This partnership with Tier One emphasizes the significance of gaming, music, and the arts as accessible entry points to Web 3, effectively bridging the gap with Web 2. By uniting these creative industries with blockchain, the PBW and Tier One partnership aims to reach broader audiences, reinforcing the event’s commitment to fostering innovation through collaboration.

From L-R: Shaina Santiago-Moraga, MPA, Cluster Director of Business Development Group at SMX Convention Center Janelle Barretto, President and Co-Founder, Philippine Blockchain Technologies, Inc and PBW John T Gonzales, Director of Strategy and Action, Tier One Entertainment

Tier One shares the sentiment on the importance of collaboration in achieving success. Having owned the arena for youth-oriented events anchored on fandom and following, Tier One utilizes influencer and celebrity partnerships alongside social media and digital platforms as the hub and hive of their activities. Joining forces with PBW further pushes the envelope in expanding their thriving community.

Tryke Gutierrez, co-founder and CEO of Tier One Entertainment says, “The partnership with PBW marks an exciting new chapter for Tier One as we venture further into the Web 3 gaming space.”  Known for their influence in the Web 2 sphere in gaming and Esports, Tier One considers a collaboration with PBW a way to  explore the evolving landscape of gaming. “Gamers today are seeking more than just entertainment; they’re looking for ways to integrate earning opportunities within their gameplay. By aligning with PBW, we’re poised to innovate and meet these growing expectations, ensuring that we remain at the forefront of the gaming evolution,” added Tryke.

From L-R: Janelle Barretto, Tryke Gutierrez, CEO and Co-Founder of Tier One Entertainment and Chezka Gonzales, VP of Blockchain Council of the Philippines and Co-Founder of PBW

To complete the tri-party agreement, the SMX Convention Center serves as the ideal venue partner for this gigantic endeavor expected to attract thousands of delegates and guests, from industry leaders, policy makers, developers, entrepreneurs, investors, gamers, artists, and enthusiasts from all over the world.

“SMX Convention Center is proud to partner with Philippine Blockchain Week and Tier One Entertainment for this landmark event. Partnerships that push the limits, test the imagination, make communities come together, and learn best innovation practices are exciting for us,” says Michael Albaña, VP and General Manager of SMX Convention Center. “Blockchain technologies, gaming, and esports will always have a home in SMX,” he adds.

Stay tuned for more exciting announcements about what is shaping up to be a Super Tech Week of groundbreaking events!  For further details, please visit www.pbw.ph, email info@pbw.ph, and www.tier.one.

 

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

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

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