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Being Volodymyr Zelenskiy: How war has changed Ukraine’s leader

Ukrainian President Volodymyr Zelensky, June 2, 2024. — REUTERS

 – Intense. Impatient. Sleep-deprived. Step into the relentless world of Volodymyr Zelenskiy, Ukraine’s wartime president.

The 46-year-old said his ambition when he was elected in 2019 had been to help Ukraine become a modern democracy, before that mission was shattered by Russia’s invasion in 2022.

“All I wanted five years ago was a very liberal country with a liberal economy,” Mr. Zelenskiy, a former stand-up comic, told Reuters in an interview in May on the fifth anniversary of his inauguration.

This week, he instead found himself professing his desire to kill Russian President Vladimir Putin as he expressed anger and anguish over an airstrike that hit Ukraine’s largest children’s hospital.

The war-hardened Mr. Zelenskiy who’s exhorted Western leaders to action at the NATO summit in Washington in recent days is a world away from the political novice who became president, let alone the TV comedian who was a showbiz heavyweight for years before.

He once even won Ukraine’s version of “Dancing with the Stars”.

The clean-shaven, boyish Mr. Zelenskiy sworn in as president in Kyiv in 2019 wearing a stylish suit fitted to his slight frame has been replaced by a much older looking, heavier-set, brooding figure typically clad in paramilitary fatigues with unshaven stubble and dark circles under his eyes.

Mr. Zelenskiy largely veered away from questions about himself in the interview with Reuters, instead focusing on his deep frustrations with some of Ukraine’s wartime allies and returning to his central message: the West must to do more to help.

Reuters spoke to eight current and former Ukrainian and foreign officials who have worked with Mr. Zelenskiy, as well as several friends and colleagues from his past.

They paint a portrait of a leader who has become tougher and more decisive, less tolerant of mistakes and even prone to paranoia, as he copes with round-the-clock stress and fatigue.

“This is a sleep-deprived regime,” said Mr. Zelenskiy’s former defense minister Oleksii Reznikov, adding that the president was often on the move around Ukraine and had a “grab bag” with a change of clothes and a toothbrush because he frequently didn’t know where he’d be spending the night.

“This is the president’s daily life – broken sleep. It is consultations at night and addresses to parliaments, senates … regardless of the time,” Mr. Reznikov said. “He’s in stress mode 24 hours a day, seven days a week – it’s a never-ending marathon.”

There’s little tolerance for the ill-prepared.

Mr. Zelenskiy will order officials and advisers out of the room if he feels they’re not fully ready, according to a member of his team, who recounted how the president dismissed his aides in frustration during a meeting earlier this year to plan the information campaign surrounding the mobilization drive.

“If he sees people aren’t prepared or are contradicting each other, he’ll say, get out of here. I don’t have time for this,” said the team member who was present at the meeting and requested anonymity to speak freely about Mr. Zelenskiy.

Many of the people interviewed spoke of being impressed by Mr. Zelenskiy’s mental endurance and his ability to cope with his role as Ukraine’s president, wartime commander-in-chief and bridge to the world.

“His memory is a huge strength. He keeps a large amount of information in his head, he very quickly grasps details and nuances,” Mr. Reznikov said. “This gift accelerated his rapid mastery of the English language – I watched it.”

Former minister Reznikov, who was dismissed by Mr. Zelenskiy in September 2023 after corruption scandals at his ministry that he denied any connection with, dismissed any suggestion that a former TV funnyman with scant geopolitical experience could take on the might of Vladimir Putin’s Russia, whose forces overwhelmingly outnumber and outgun Ukraine’s.

“I would apply Mark Twain’s quote to President Zelenskiy,” he added. “It’s not the size of the dog in the fight; it’s the size of the fight in the dog.”

At the same time, Zelenskiy has grown increasingly “paranoid” about suspected Russian attempts to assassinate him and destabilize Ukraine’s leadership, according to a senior European official who has held talks with the leader.

“And rightly so,” the official added.

 

PLAYING PIANO WITH HIS…

Mr. Zelenskiy’s grave appeals to the NATO summit this week present a stark counterpoint to the irreverent comedy sketches that sent audience into howls of laughter in years gone by.

One YouTube clip from 2016 shows Ukraine’s future leader standing behind a piano with his trousers around his ankles, “playing” tunes despite his hands being nowhere near the keyboard, to the delight of the crowd.

“Of course he’s changed over the past five years,” said Andriy Shaykan, who studied with Mr. Zelenskiy at the Kryvyi Rih Economic Institute between 1995 and 2000. “He’s become older, as a person upon whom an incredible burden is placed. He sleeps for a few hours a night. That huge pressure – it shows.”

Mr. Zelenskiy grew up in the 1990s in Kryvyi Rih, a steelmaking city in central Ukraine that was consumed by economic turmoil and rampant crime after the breakup of the Soviet Union.

He found his niche in entertainment, building a hit comedy troupe – named Kvartal 95 after his home district – which won the KVN Russian TV talent show popular across the former Soviet region.

In 2015, Mr. Zelenskiy starred in a new TV sitcom “Servant of the People”, playing an honest school teacher who becomes Ukrainian president after a classroom rant about corruption goes viral online.

The role struck a chord with Ukrainians fed up with post-Soviet graft and, in an extraordinary case of life mimicking art, helped catapult him into the president’s office in a landslide vote.

Artem Gagarin, a writer for Kvartal 95, admits he was baffled when his former boss decided to run for office.

“He was Ukraine’s top comic, basically the top show-businessman. Why did he need this?”

Five years on, he says he is grateful that Mr. Zelenskiy chose the path he did, as he has proved himself a natural leader.

“Otherwise, where would we be now?”

 

‘A MILITARY LEADER’

Mr. Zelenskiy certainly isn’t universally loved at home.

His public approval rating, which leapt to 90% in 2022 after the invasion as Ukrainians rallied round the flag, has been dragged down by war fatigue, an unpopular conscription drive, the sacking of a respected general and a grim battlefield outlook that has seen Russia slowly advancing in the east in recent months.

A president elected to drain the establishment swamp in a fierce expression of Ukrainian democracy has become ruler of a country under martial law.

Mr. Zelenskiy’s main political rivals have been frozen out of key decision-making about issues such as military strategy, governance and international relations throughout the war and many ordinary Ukrainians have voiced unease at the concentration of power in his team’s hands.

“People now do not perceive him as previously, as an anti-establishment politician, a former comedian,” said Anton Hrushetskyi, executive director of the Kyiv-based KIIS pollster. “They see him as a military leader and all the jokes from the past, people leave them in the past.”

Zelenskiy’s public approval has stabilized at around 60%, which is “high considering the overall difficult situation” of a war that is dragging on with no end in sight, Mr. Hrushetskyi added.

US Representative Michael McCaul, the Republican chair of the House Foreign Affairs Committee who has met Mr. Zelenskiy several times in Ukraine and in Washington, told Reuters that he had grown into his position as an inspiring wartime leader.

That process began when he refused to be evacuated by the West at the start of the war as Russian troops bore down on Kyiv, Mr. McCaul said.

“Zelenskiy is always serious, and gets to the point,” he added. “I remember meeting with him and his generals and they gave me a list of weapons that they wanted.”

 

FRUSTRATION WITH ALLIES

Despite having supporters like Mr. McCaul and US President Joe Biden, Mr. Zelenskiy has struggled to retain global attention for Ukraine’s plight since the Israel-Hamas war erupted in October last year.

His persistent appeals for more Western aid are often imbued with a moral indignation that Ukraine is paying in blood to defend the democratic world from Russia.

“He repeats 15 times what he needs, that we need to do more or face the consequences, and he doesn’t let it go,” said the senior European official.

The Ukrainian leader has become increasingly frustrated with Western nations, according to a second European official who said he would be well advised to “tread carefully” to avoid alienating much-needed allies.

At meetings and phone calls with foreign officials, Mr. Zelenskiy hammers home the same message, relentlessly pushing his cause, two European officials told Reuters.

More recently, in a subtle but notable shift of emphasis since a summit in Switzerland held to garner international support and isolate Russia, he has underlined the urgent need for a fair resolution to the war and talked of a second summit later this year that could include a representative from Moscow.

“We don’t want to drag out this war and we must reach a just peace as soon as possible,” he said in Kyiv after talks with Slovenia’s president on June 28.

Trying to ramp up pressure on NATO on his way to its Vilnius summit last year, Mr. Zelenskiy lashed out at the military alliance saying it was “absurd” that it failed to give Kyiv a clear timetable for it to join.

In Washington this week, with that goal still elusive, the Ukrainian leadership was less abrasive, with his chief of staff saying he was happy with its outcome.

Mr. Zelenskiy himself has warded off questions about how he has performed as leader of Ukraine under exceptional circumstances.

“I cannot assess my activity, I think it is not very ethical,” he said in the interview with Reuters at his office in central Kyiv to mark five years in power.

“I am proud that I am the president of Ukraine – this is my attitude to all these five years.” – Reuters

Natural disasters cost China $13 bln in January-June

 – China suffered direct economic loss worth 93.16 billion yuan ($12.83 billion) in the first half of this year due to natural disasters, the government said on Friday.

This is the deepest first-half disaster-related loss since 2019, according to data available on the Emergency Management Ministry website, as the country suffered flooding, drought and extreme temperature in the first six months of the year.

China saw cold spells and heavy snow earlier in the year, a 7.1 magnitude earthquake in the northwestern region of Xinjiang, landslides in southwestern regions and flooding on the Yellow River and in southern provinces this year.

At least 32.38 million people were affected due to natural disasters during January-June, including the disappearance or death of 322 people.

About 856,000 faced emergency resettlement and 23,000 houses were destroyed, while around 3.17 million hectares of crops were affected.

The impact on the economy was worse than the year-earlier period, when the country logged 38.23 billion yuan worth of loss and 95 people went missing or died.

For all of 2023, about 48.76 million people were affected due to natural disasters, according to the ministry’s report from last year.

Funds channelled into disaster management has reached 4.17 billion yuan so far this year, according to a Reuters tally, with 546 million yuan allocated last month for agricultural production and disaster relief. – Reuters

Japan disciplines military top brass for mishandling classified information

PHILIPPINE STAR/EDD GUMBAN

 – Japan on Friday disciplined more than 200 defense personnel, including the military’s top brass and senior bureaucrats, for mishandling classified material and other incidents.

The information security problems have occurred as Japan seeks closer cooperation with the US and other western democracies, including in intelligence sharing, to coordinate responses to Russia’s invasion of Ukraine and rising tensions with China. Doubts about Japan’s ability to handle classified information could hinder that collaboration.

The head of Japan’s Maritime Self Defense Force, Ryo Sakai, resigned his post on Friday, effective on July 19, after reports that sailors without security clearance were allowed to access sensitive vessel tracking data of foreign military ships.

Sakai’s commander, General Yoshihide Yoshida, the Chief of Staff of Japan’s Joint Staff, along with the commanders of the other military branches were also reprimanded, but will remain in their posts, Japan’s Minister of Defense Minoru Kihara said at a news conference. Mr. Kihara apologized for the security lapses and other infractions, including fraudulent compensation claims by SDF personnel for diving assignments.

Mr. Kihara and Minister of Foreign Affairs Yoko Kamikawa are expected to push for closer cooperation with Washington later this month when they meet their US counterparts for security talks.

“We will take radical action to strengthen information security,” Mr. Kihara said when asked whether the lapses would hurt cooperation.

To align with other western countries, Japan in May passed a new security law to tighten rules on classified information handling and security vetting. It also plans legislation to allow the SDF to actively hunt out cyber security threats that could harm critical infrastructure or sensitive data.

“I recognize that the situation is extremely severe, and in that context, I understand there is no room for error,” Prime Minister Fumio Kishida said in addressing the information security incidents in Washington DC earlier on Thursday where he joined a North Atlantic Treaty Organization (NATO) leaders meeting.

The fraudulent compensation claims and other alleged incidents including allegations that SDF personnel failed to pay for meals are also an embarrassment for Mr. Kishida at home as he looks to bolster the military.

In 2022 he unveiled a plan to double defense spending to 2% of GDP to pay for missiles and other weapons meant to deter China from resorting to military action in East Asia. – Reuters

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By Miguel Paolo M. Tejada

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This brand new flagship event will feature industry professionals, including Dr. Ezekiel Bernardo, who is a graduate of De La Salle University and is well versed in the realms of ergonomics and AI integration; Sir Ernest L. Cu, the CEO of Globe Telecom, and a pioneer in AI integration in the field of telecommunications; and Sir Reynaldo Lugtu, a Graduate Professor from the College of Business in De La Salle University is an entrepreneur with years of experience in the field of information technology, and a futurist with a vast pool of knowledge about Industry 4.0. These renowned speakers will leave you meaningful insights deep into the rise of AI innovation and integration in the contemporary world. Furthermore, this event will feature engaging activities inspired by the talks to encourage the participants’ minds to further descend into the captivating world of Artificial Intelligence.

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China scolds EU over statement about South China Sea

PHILIPPINE COAST GUARD FACEBOOK ACCOUNT

BEIJING – China has rebuked the European Union over a statement about the South China Sea, saying the latter ignored historical and objective facts of the testy issue and “blatantly endorses” what it called the Philippines’ violation of its sovereignty.

On Friday, the EU issued a statement to mark the anniversary of arbitration regarding sovereignty in the region which ruled in the Philippines’ favor and which was rejected by China.

The Chinese mission to the European Union said in a statement that it is strongly dissatisfied with and resolutely opposes the statement about the South China Sea Arbitration Award. It has made solemn representations to European Union.

The EU should be clear about facts, be objective and fair, and respect the rights and interests of China side as well as the efforts made by regional countries for peace and stability, China said. – Reuters

Philippines’ Maynilad prepared to do IPO in 2025, CEO says

MANILA – Philippine utility firm Maynilad Water Services Inc. plans an initial public offering as soon as 2025, its CEO said on Friday.

Under its 25-year concession, Maynilad, the water distributor in Manila’s west zone, is required to list on the stock exchange by January 2027.

The company also plans to raise 25 to 35 billion pesos ($430 million to $600 million) next year through a mix of bank loans, bonds, and other instruments to finance capital expenditures, CEO Ramoncito Fernandez told reporters. – Reuters

Philippines rejects ‘use of force’ to undermine its South China Sea interests

PHILIPPINE STAR/GEREMY PINTOLO

MANILA – The Philippines rejects the “use of force” to undermine its interests in the contested South China Sea but it does not want any conflict and has agreed with China to ease tensions in a contested shoal, officials said on Friday.

“We don’t want war,” National Security Adviser Eduardo Ano told reporters in Manila.

Mr. Ano said efforts were underway to de-escalate tensions in the disputed waterway, where Manila and Beijing have accused each other of aggressive behavior involving their ships and of damaging the marine environment.

Central to recent standoffs is the disputed Second Thomas Shoal, where the Philippines maintains a rusty warship manned by a small crew that it deliberately grounded in 1999 to reinforce its maritime claims. It regularly sends supply mission to troops stationed there.

Last month, Manila accused the China Coast Guard of intentionally ramming and deliberately puncturing navy vessels and seizing weapons to disrupt a military resupply mission, seriously injuring a Filipino sailor who lost a finger.

China claims almost the entire South China Sea, including the Second Thomas shoal, and rejects a 2016 ruling by the Permanent Court of Arbitration in the Hague that Beijing’s expansive claims had no basis under international law. The case was brought to the court by the Philippines.

“We reject any attempt to deny our strategic agencies, especially by the use of force that seek to coerce and subordinate the national interests of the Philippines,” Mr. Ano separately told a forum marking the eighth anniversary of the Hague ruling.

Mr. Ano said the way forward was to uphold the 2016 award and oppose efforts to undermine its significance.

“It is not and will never be a mere piece of paper,” he said, alluding to how the former president Rodrigo Duterte described the award as he sought closer ties with Beijing.

China maintains its actions in the South China Sea have been lawful and professional.

Mr. Ano repeated that the Philippines was “committed to the cause of peace”. “We are committed to address and manage difficult issues through dialogue and through diplomacy,” he said.

On Friday, the European Union (EU) issued a statement to mark the anniversary of the arbitration ruling on the South China Sea, saying all parties must “respect and honor the award” which was “legally binding”.

China rebuked the EU for its statement, saying the latter ignored historical and objective facts and “blatantly endorses” what it called the Philippines’ violation of its sovereignty.

United States State Secretary Antony Blinken, in a statement on the ruling’s anniversary, said his country remains “deeply concerned” about China’s actions in the disputed waters.

“We continue to call on the PRC (People’s Republic of China) to abide by the 2016 arbitral ruling, to cease its dangerous and destabilizing conduct,” Mr. Blinken said.

Japan’s diaper makers look to adult market for revenue as births fall

STOCK PHOTO | Image by PublicDomainPictures from Pixabay

 – A large metal arm in a Japanese factory swept a cluster of fluffy white fabric rectangles off a carousel into a group to be wrapped in plastic before packaging for shipment.

The items were adult diapers being turned out by automated production lines that stretch for 80 m (262 ft) at a facility run by Daio Paper 3880.T in the Fujinomiya region, near the tourist landmark, Mount Fuji.

Factory overseer Naoto Sugaya said output has grown year on year, as he held a pair of the “paper pants” close to his thigh and explained their features.

“The part around the legs is very tight-fitting,” he added. “When you put them on, you can use them without any worry.”

As Japan’s population ages, the company is pouring more resources into the growing new market. It says revenue from adult diaper sales is already double that of those meant for babies.

With births falling last year to a record low, Japan’s population is likely to decline by about 30% to 87 million by 2070, with four people in every 10 aged 65 or more, estimates show.

Those figures are pushing other companies to switch focus, too.

Another diaper maker, Oji Holdings 3861.T, made headlines this year when it said it would stop making nappies for babies and instead focus on adults.

Apart from their size, diapers for adults have key differences, since customers are more discerning than the average baby, and rely on them in a wider range of situations, said Daio Paper marketing manager Kenji Nakata.

Survey results showed potential buyers found the company’s products useful, he said.

“‘Wow,’ they said, ‘If they’re like this, I’d buy them, they wouldn’t be embarrassing to bring home,'” Mr. Nakata added. “‘If I wore these pants I could do my hobbies, go fishing, play golf, go shopping in Ginza.'”

Daio Paper has no plans to stop making nappies for babies, Mr. Nakata said, but the future of the business was clear.

“We can expect the market for adult diapers to continue to grow, and therefore we are devoting our company’s resources to that market with a view to expanding these products.”

Over the five years to 2027, Japan’s diaper market for adults is set to grow 16% to 98.9 billion yen ($612 million), while that for babies is estimated to contract 8% to 84.6 billion yen, research firm Fuji Keizai says. – Reuters

China says it will never accept ‘unfounded accusations’ at NATO summit

FREEPIK

 – China will never accept the “unfounded accusations” made against it at the NATO summit this week in Washington, Foreign Minister Wang Yi said to his Dutch counterpart over a phone call, his ministry said.

Mr. Wang said China is willing to maintain contact with NATO on “an equal footing” and conduct exchanges on the basis of mutual respect, asking the military alliance to neither interfere with its internal affairs nor challenge its interests.

He said that China and NATO countries have different political systems and values, but this should not be a reason for NATO to “instigate confrontation with China”.

“The right way is to strengthen dialogue, enhance understanding, build basic mutual trust and avoid strategic miscalculation,” Mr. Wang said in the Thursday phone call.

China on Thursday criticized the NATO summit declaration that described it as a “decisive enabler” of Russia’s war effort in Ukraine as biased and “sowing discord”.

The foreign ministry spokesperson said NATO’s “hyping up” of China’s responsibility towards the Ukraine crisis “comes with malicious intent”.

About relations with the Netherlands, Mr. Wang said China is willing to establish close ties with the new Dutch government and carry out all-round dialogue.

He added that China believed the Netherlands will encourage the European Union to look at China objectively and rationally, and play a constructive role in maintaining healthy and stable development of China-EU relations.

The NATO summit said Beijing continues to pose systemic challenges to Europe and to security.

The European Union last week confirmed it would impose tariffs of up to 37.6% on imports of electric vehicles made in China, a move that ratcheted up trade tension with Beijing.

Additionally, the European Commission has reportedly also begun canvassing the region’s semiconductor industry for its views on China’s expanded production of older generation computer chips. – Reuters

Biden mistakenly refers to Zelenskiy as Putin before correcting himself

US President Joseph R. Biden and Ukraine’s President Volodymyr Zelensky visit Saint Michael’s cathedral in Kyiv, Ukraine Feb. 20, 2023. — REUTERS

 – US President Joe Biden on Thursday mistakenly referred to Ukrainian President Volodymyr Zelenskiy as Russian President Vladimir Putin before correcting himself at the NATO summit in Washington.

“And now I want to hand it over to the president of Ukraine, who has as much courage as he has determination, ladies and gentlemen, President Putin,” Mr. Biden said, referring to Mr. Zelenskiy.

While correcting himself about two seconds later, Biden added: “President Putin, you’re going to beat President Putin, President Zelenskiy. I am so focused on beating Putin.”

The room at the summit gasped when Mr. Biden misidentified Mr. Zelenskiy as Mr. Putin. The comments came at an event in the summit during which Biden launched an initiative with allies aimed at supporting Ukraine’s security needs.

Mr. Zelenskiy responded to Mr. Biden’s comments by saying, “I am better (than Putin).”

Mr. Biden replied: “You are a hell of a lot better,” as some in the room laughed, before Mr. Zelenskiy began his own address.

Mr. Biden has been under intense scrutiny in recent days and has faced doubts, including from members and donors of his own Democratic Party, about his re-election chances after a weak and faltering performance in a debate late last month against Republican former President Donald Trump.

Mr. Biden has thus far vowed to push on with his re-election bid and refused to step aside as his party’s presidential candidate, while claiming he is best positioned to beat Mr. Trump in the November elections.

German Chancellor Olaf Scholz defended Mr. Biden on Thursday after the president’s mistake. Mr. Scholz said: “Slips of tongue happen, and if you always monitor everyone, you will find enough of them.”

British Prime Minister Keir Starmer, in a press conference of his own, repeatedly avoided answering the question as to whether Mr. Biden was fit enough to run for the US presidency. He instead praised Mr. Biden’s role in organizing and leading what he said was a successful meeting of the NATO alliance.

Later on Thursday, Mr. Biden held a solo press conference at the NATO summit, his first time facing press alone since November, in which he was asked about his gaffe. He responded by saying the NATO summit was successful under his leadership.

“Have you seen a more successful conference?” Mr. Biden said to reporters when asked about potential concerns among foreign officials about his fitness for re-election.

At the summit in Washington, NATO members have extended support to Ukraine to combat the Russian invasion that began in February 2022. The United States has been Ukraine’s most important partner in military assistance during the war.

Earlier in the day, ahead of a bilateral meeting, Mr. Biden told Mr. Zelenskiy: “We will stay with you, period.”- Reuters

No “safe levels” in Alcohol drinking – DOH

WIL STEWART-UNSPLASH

The “safe level ” notion of alcohol consumption was debunked by the Department of Health (DOH) as a recent study showed that no amount of alcohol consumption is considered safe for health.  

“Alcohol itself [being a] psychoactive neurotoxic and even oxidative agent [that can] cause organ damage is link to diseases and (it has) no safe levels,” Paul Filomeno, Philippine Addiction Specialists’ Society (Pass) said during the Sin Tax Coalition Press Conference on Tuesday.   

Mr. Filomeno cited the study of the World Health Organization (WHO) in January 2023, which found that half of the alcohol-related cancers in the WHO European region are caused by “light” and “moderate” alcohol consumption.  

Ethanol (alcohol) is classified as a Group 1 carcinogen, the highest risk category of substances that can cause cancer, alongside asbestos, radiation, and tobacco, according to WHO.  

Cumulative and excessive alcohol consumption poses greater risks to other vital organs of the body, Mr. Filomino added. 

“As you drink more and more, mas maraming organs yung nadadamay na (organs) especially the GI tract (gastrointestinal tract) … most susceptible diyan yung liver eventually causing hepatitis… progressing to liver cirrhosis. Marami ring (negative) effect sa heart and also sa brain, [As you drink more, more organs will be at risk especially the GI tract (gastrointestinal tract), live is most susceptible eventually causing hepatitis then progresses to liver cirrhosis. Also, alcohol has negative effects on the heart and brain,” Mr. Filomino explained. 

 

Action to Reduce Alcohol Consumption 

The Global Burden of Diseases Health Metrics study in 2021 found that 3.11% of Filipino deaths are alcohol-related, leading to around 27,477 Filipino fatalities. 

To reduce alcohol consumption, DOH in partnership with the Sin Tax Coalition pushes a bill seeking to increase the price and excise tax of alcoholic beverages as it proves to be the most cost-effective way to reduce alcohol consumption, DOH said.  

“What we need is an increase in the price of alcohol (beverages) by at least 6.5% to 7% annually… And 13% to 14% increase in the tax annually,” Action for Economic Reforms Fiscal Policy Program Officer Adolfo Jose A. Montesa explained.  

Aside from increasing the price of alcoholic beverages, Mr. Montesa called for banning its advertisements and sponsorships, primarily in media, as it helps normalize the culture of alcohol consumption in the country, Mr. Montesa said.  

“The reason why people drink alcohol is not just because of economic factors… But one of the reasons is because of cultural influences… The way our media talks about alcohol or glamorizes alcohol is an issue we need to address,” Mr. Montesa furthered.Edg Adrian A. Eva

Marcos appoints top banker to MB

WALTER C. WASSMER — FIRST PHILIPPINE HOLDINGS CORP. WEBSITE

PRESIDENT Ferdinand R. Marcos, Jr. has appointed banker Walter C. Wassmer to the Bangko Sentral ng Pilipinas’ (BSP) rate-setting body, according to a Palace statement.

Prior to his appointment, Mr. Wassmer was a consultant and nonexecutive director of Sy-led BDO Unibank, Inc., the country’s largest bank in terms of assets.

The announcement comes weeks after the resignation of two Monetary Board (MB) members who were embroiled in a scandal involving “ghost employees.”

A Bloomberg report earlier said Malacañang had accepted the resignation of MB members Anita Linda R. Aquino and V. Bruce J. Tolentino, effective June 30.

When asked whether Mr. Marcos has found a replacement for the remaining MB vacancy, Presidential Communications Office Secretary Cheloy Velicaria-Garafil said in a Viber message: “None for now.”

Mr. Wassmer and the other appointee will complete the unexpired terms of Ms. Aquino and Mr. Tolentino or until July 2026.

Mr. Wassmer is a seasoned banker, having held positions at BDO, Far East Bank and Trust Co. and Union Bank of the Philippines, Inc. (UnionBank).  He was also a senior board adviser at Lopez-led First Philippine Holdings Corp. from November 2022.

Mr. Wassmer was senior executive vice-president and head of institutional banking group at BDO from 1997 to 2022. He was chairman and officer-in-charge of BDO Elite Savings Bank, Inc.

He was also senior vice-president of the Far East Bank from 1986 to 1997; assistant vice-president of UnionBank from 1983 to 1986; and corporate account officer of the Bancom Finance Corp. from 1980 to 1982.

He has also held director positions in several companies, including BDO Finance Corp., MMPC Auto Financial Services Corp. and Mabuhay Vinyl Corp.

Mr. Wassmer holds a Bachelor of Science degree in Commerce from De La Salle University.

The Monetary Board exercises the powers and functions of the BSP including the conduct of monetary policy. It is composed of seven members including BSP Governor Eli M. Remolona, Jr.

The other MB members are Finance Secretary Ralph G. Recto, former BSP Governor and Finance Secretary Benjamin E. Diokno, former Finance Undersecretary Romeo L. Bernardo and former National Treasurer Rosalia V. de Leon.

The Monetary Board’s next meeting is scheduled for Aug. 15.

Mr. Remolona has said the BSP is still “on track towards reducing rates” despite risks to the inflation outlook. He earlier said that the central bank could cut rates by 25 basis points (bps) in the third quarter, and by another 25 bps in the fourth quarter. — Kyle Aristophere T. Atienza