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Anti-corruption purge may be affecting China’s military modernization, Pentagon says

A SOLDIER stands guard at the Great Hall of the People in Beijing, China, Oct. 18, 2023. — REUTERS

WASHINGTON — Corruption in China’s military may have disrupted its progress towards its 2027 military modernization goals, the Pentagon said in its annual report on Beijing’s military that was released on Wednesday.

Since last year, China’s military has undergone a sweeping anti-corruption purge and last month the defense ministry said a top-ranking military official had been suspended and was under investigation for “serious violations of discipline.”

The wide-ranging Pentagon report said that between July and December 2023, at least 15 high-ranking Chinese military officers and defense industry executives were removed from their posts.

“In 2023, the PLA experienced a new wave of corruption-related investigations and removals of senior leaders which may have disrupted its progress toward stated 2027 modernization goals,” the report said, using an acronym for the People’s Liberation Army.

US officials, including the head of the Central Intelligence Agency, have said that Chinese President Xi Jinping had ordered his military to be ready to conduct an invasion of Taiwan by 2027.

China’s official 2027 modernization goals include accelerating the integration of intelligence, mechanization and other tools while boosting the speed of modernization in military theories, personnel, weapons and equipment, the Pentagon said.

The removal of the 15 senior officials was likely the “tip of the iceberg,” Ely Ratner, US Assistant Secretary of Defense for Indo-Pacific Security Affairs, told a Washington think tank after the report’s release. China’s leadership would not be taking such extreme anticorruption measures unless they felt the PLA’s operational effectiveness was being impacted, he said.

“I don’t think this is just… some guys are taking some money and putting it in their pocket, or maybe their banquets, they’re buying too expensive whiskey,” Mr. Ratner said at the Center for Strategic and International Studies.

The crackdown would likely create a period of risk aversion and “paralysis” through lower ranks, he added.

A senior US defense official told reporters that the anti-corruption hunt also can slow down military projects, including in China’s defense industry.

“Once they uncover corruption in one place or involving one senior official, there’s sort of a bit of a spiraling effect (which) inevitably seems to draw in additional officials,” the official, speaking on the condition of anonymity, said.

The report pointed to several removals from China’s military rocket force, known as the People’s Liberation Army Rocket Force (PLARF), an elite arm of the PLA that oversees its most advanced conventional and nuclear missiles.

“The impact on PRC (People’s Republic of China) leaders’ confidence in the PLA after discovering corruption on this scale is probably elevated by the PLARF’s uniquely important nuclear mission,” it added.

In November, China said Admiral Miao Hua, who served on the Central Military Commission, the country’s highest-level military command body, was under investigation for “serious violations of discipline.” Mr. Miao had been the military’s leading political officer on the six-person commission, which is headed by Mr. Xi.

Beijing has said media reports that Defense Minister Dong Jun, who ranks below Mr. Miao, had been sidelined by an investigation were “sheer fabrication.”

“The PLA made uneven progress toward its 2027 capability milestone for modernization, which, if realized, could make the PLA a more credible military tool for the CCP’s Taiwan unification efforts,” a document accompanying the Pentagon report said, using an acronym for the Chinese Communist Party.

A poll by Taiwan’s top military think tank published in October said that most Taiwanese believe China is unlikely to invade in the coming five years but do see Beijing as a serious threat to the democratic island.

Over the past five years or so, China’s military has significantly ramped up its activities around Taiwan, which Beijing views as its own territory, over the strong objections of the government in Taipei, and has never renounced the use of force to bring the island under its control.

Mr. Ratner said despite efforts to modernize, it was not clear the PLA was getting closer to its Taiwan-related goals given US moves to keep pace and build deterrence in the Indo-Pacific.

“They may be racing forward with military modernization, but finding themselves just as distant, if not more distant, from solving some of the operational problems they’re trying to solve,” he said. — Reuters

Human Rights Watch says Israel’s deprivation of water in Gaza is act of genocide

A view shows houses and buildings destroyed by Israeli strikes in Gaza City, Oct. 10, 2023. — REUTERS

THE HAGUE — Human Rights Watch (HRW) said on Thursday that Israel has killed thousands of Palestinians in Gaza by denying them clean water which it says legally amounts to acts of genocide and extermination.

“This policy, inflicted as part of a mass killing of Palestinian civilians in Gaza, means Israeli authorities have committed the crime against humanity of extermination, which is ongoing. This policy also amounts to an ‘act of genocide’ under the Genocide Convention of 1948,” Human Rights Watch said in its report.

Israel has repeatedly rejected any accusation of genocide, saying it has respected international law and has a right to defend itself after the cross-border Hamas-led attack from Gaza on Oct. 7, 2023 that precipitated the war.

Although the report described the deprivation of water as an act of genocide, it noted that proving the crime of genocide against Israeli officials would also require establishing their intent. It cited statements by some senior Israeli officials which it said suggested they “wish to destroy Palestinians” which means the deprivation of water “may amount to the crime of genocide”.

“What we have found is that the Israeli government is intentionally killing Palestinians in Gaza by denying them the water that they need to survive,” Lama Fakih, Human Rights Watch Middle East director told a press conference.

Human Rights Watch is the second major rights group in a month to use the word genocide to describe the actions of Israel in Gaza, after Amnesty International issued a report that concluded Israel was committing genocide.

Both reports came just weeks after the International Criminal Court issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and his former defense chief for alleged war crimes and crimes against humanity. They deny the allegations.

The 1948 Genocide Convention, enacted in the wake of the mass murder of Jews in the Nazi Holocaust, defines the crime of genocide as “acts committed with intent to destroy, in whole or in part, a national, ethnical, racial or religious group”.

The 184-page Human Rights Watch report said the Israeli government stopped water being piped into Gaza and cut off electricity and restricted fuel which meant Gaza’s own water and sanitation facilities could not be used.

As a result, Palestinians in Gaza had access to only a few liters of water a day in many areas, far below the 15-liter threshold for survival, the group said.

Israel launched its air and ground war in Gaza after Hamas-led fighters attacked Israeli communities across the border 14 months ago, killing 1,200 people and taking over 250 hostages back to Gaza, according to Israeli tallies.

Israel’s campaign has killed more than 45,000 Palestinians, displaced most of the 2.3 million population and reduced much of the coastal enclave to ruins. — Reuters

South Korea’s allies cheered Yoon’s foreign policy, ignored domestic discord

SOUTH KOREAN soldiers salute in front of a huge national flag in Pohang, South Korea, Sept. 30, 2021. — LEE JIN-MAN/POOL VIA REUTERS

SEOUL — As South Korean President Yoon Suk Yeol’s relations with the opposition broke down this year, Western diplomats hoped the internal tensions would not affect his tough stance on China and North Korea that had won praise from Washington.

It didn’t work.

A focus on a foreign policy seen as favorable to the West, limited attention on the political discord in South Korea, and a hesitation to be seen interfering in domestic matters, left its partners blindsided when Mr. Yoon briefly imposed martial law on Dec. 3, analysts and current and former diplomats said.

Mr. Yoon is now impeached and his powers suspended — and his political implosion likely heralds the return of the political left, which is less inclined to be as unabashedly supportive of the US and Japan.

“His allies in Washington are concerned about one thing and one thing only — US national security,” said Karl Friedhoff of the Chicago Council on Global Affairs. “When I raised the (domestic) issue, I was bluntly told on one occasion, ‘Why does that matter?’ And now we’re seeing why it matters.”

The conservative Mr. Yoon earned wide praise in Western capitals for his signature policy goal of making South Korea a “global pivotal state” by promoting freedom, human rights and the rule of law. That policy saw Seoul weigh in more publicly on the side of Washington and NATO on hotspots such as the South China Sea, Taiwan, and Ukraine.

Philip Turner, who served as New Zealand’s ambassador to Seoul until last year, said Mr. Yoon had shown autocratic tendencies particularly since the April parliamentary elections but it was seen as a typical political show of strength.

“Like Koreans themselves, including many of Yoon’s own supporters, I don’t think any diplomats thought that Yoon would go as far as to declare martial law with no basis — an inexcusable and inexplicable action from an ex-prosecutor who positioned himself as a champion of democracy,” Mr. Turner said.

Mr. Yoon’s Global Pivotal State approach will not be mourned, given the hypocrisy with which it finally collapsed, but if Mr. Yoon is ousted by the Constitutional Court following his impeachment on Saturday, the West will hope the next president upholds much of its substance in practice, Mr. Turner said.

‘DEEPLY SURPRISED’
Asked shortly after the martial law attempt whether it was an intelligence failure that Washington was caught unawares by a key ally, US Deputy Secretary of State Kurt Campbell said almost all US interlocutors in South Korea, including in the president’s office, were “deeply surprised” by Mr. Yoon’s move.

On Wednesday, US National Security Adviser Jake Sullivan invoked the Jan. 6, 2021, attack on the US Capitol by supporters of Donald Trump, when commenting on Mr. Yoon’s move.

“Did not see that coming, yeah, but we had January 6, yeah,” Mr. Sullivan said at an event. “So I think it’s important for us to recognize that dramatic events happen even in highly advanced, consolidated democracies.”

Henry Haggard, a former US diplomat posted to the embassy in Seoul until June, disputed suggestions that Western countries ignored Mr. Yoon’s hardline tendencies.

“Korea chose Yoon so his foibles were relevant to South Korea, not to us,” he told Reuters. “We did not expect this from Yoon, whether he was nostalgic for Korea’s authoritarian past or not, because we assumed any president understood that almost no one in Korea sought to turn back the clock.”

Mr. Yoon’s declaration of martial law was the first time it was used since 1980 and for many South Koreans, the move brought back memories of right-wing rule by military strongmen, many of whom benefited from ties in Washington.

Elected in 2022, Mr. Yoon was widely welcomed in Washington and other Western capitals for his rhetoric defending global democracy and freedom.

Invited to make a rare address to the US Congress last year, Mr. Yoon referenced freedom and democracy a combined 55 times. Earlier this year he hosted the latest “democracy summit”, taking up a US-led initiative.

But critics said that masked growing problems at home.

Mr. Yoon clashed with opposition lawmakers whom he has labeled as pro-North Korea and “anti-state forces”, and press freedom organizations have criticized his heavy-handed approach to media coverage that he deemed negative.

PRESIDENCY DAMAGED
Mr. Yoon shocked the nation and the world late on Dec. 3 when he gave the military sweeping emergency powers to root out what he called “anti-state forces” and overcome obstructionist political opponents.

Martial law was in force for only six hours before Mr. Yoon backtracked in the face of bipartisan parliamentary opposition, but the damage to his presidency was done, and threatened to undermine South Korea’s reputation as one of Asia’s most vibrant democracies.

“I think that Yoon’s outdated speeches and strong-arm tendencies were ignored because he was seen as aligning more closely with US policies towards China and Western policies towards Russia,” said Ramon Pacheco Pardo, a Korea expert at Kings’ College London.

Victor Cha, the Korea Chair at the Center for Strategic and International Studies and a former White House official, said Washington was in a no-win position.

“If it says too much too soon, then it is seen as interventionist — either in supporting or opposing the government,” he said. “If it says nothing, it is seen as being aloof and complacent.” — Reuters

College freshmen receive best Christmas gift: Full scholarships from Grab

Grab Philippines once again grants full-ride scholarships to six college freshmen pursuing degrees in Science, Technology, Engineering, Mathematics, and Business.

The leading superapp announces its third batch of GrabScholars

In the true spirit of the holiday season, Grab Philippines has officially awarded full-ride college scholarships to six exceptional freshmen students through the GrabScholar program.

These talented individuals, representing diverse regions of the Philippines, have been granted comprehensive scholarship packages to pursue their chosen courses in Science, Technology, Engineering, Mathematics, and Business at their chosen universities — poised to be the next generation of leaders and trailblazers.

The scholarship includes a monthly stipend to support essential expenses, such as dormitory accommodations and daily needs; as well as an annual allowance for school supplies. To further support their career aspirations, the program offers an opportunity to participate in an internship with Grab Philippines, ensuring meaningful progress toward their dream professions.

Among the recipients of the full college scholarship are Chloe Cipriano, Genille Gonzales, and Knash Alsonado.

Chloe Cipriano, a Bachelor of Science in Information Technology student at PHINMA Saint Jude College Manila, is determined to carve her path in the tech industry. With a passion for technology and solving complex problems, Chloe dreams of becoming a cybersecurity expert or software developer. The scholarship has become a lifeline for her family, currently supported by her brother, as it significantly alleviates their financial burden.

Meanwhile, Genille Gonzales is enrolled in the Bachelor of Science in Business Administration, with a Major in Marketing Management program at National University — Fairview. Inspired by her aunt, a retired accountant, Genille is setting her sights on a future in public service, hoping to secure a role in a government office. She is also committed to supporting her father, Marlo, a MOVE IT rider-partner, in providing for their family’s needs.

Knash Alsonado, a BS Legal Management student at the University of the East, aspires to become a lawyer or paralegal, with plans to prepare for law school. Encouraged by her parents, Knash is motivated to support her father, Randel Alsonado, a GrabCar driver-partner, who is currently caring for her grandmother, a stroke patient. The scholarship plays a crucial role in easing the financial strain on their family.

These scholars have overcome significant personal and financial challenges to achieve academic excellence. From supporting family members with health issues to overcoming monetary hurdles, each student’s journey is a testament to their resilience and determination.

The GrabScholar program aims to provide educational opportunities to deserving students from underprivileged backgrounds. By covering tuition, school supplies, and living expenses, the program ensures that these scholars can focus entirely on their studies and their aspirations.

Grab Philippines Country Head Ronald Roda personally welcomed the GrabScholars and their families, extending his congratulations and officially embracing them into the Grab community.

Grab Philippines Country Head Ronald Roda shares, “We are incredibly proud of our GrabScholars. They exemplify the importance of opportunity and demonstrate how, when coupled with hard work and determination, it can shape a better future for an individual. They are a testament to what GrabScholar is all about — not just financial aid but an investment in the future leaders and trailblazers of our communities.”

As these scholars unwrap their Christmas presents this year, they do so with the knowledge that their hard work and dedication have paid off. With the support of the GrabScholar program — co-facilitated with BagoSphere, they are well on their way to achieving their dreams and making a significant impact on society.

This year’s batch of College GrabScholars expands the program’s roster to a total of 18 outstanding college students. Besides the full-ride college scholarships, GrabScholar 2024 also covered the bursary support for the educational needs of 300 K-12 students and a career acceleration pathway for 150 aspiring Business Process Outsourcing (BPO) professionals.

 

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20 CoA executives complete senior executive development program

CoA Chairperson Gamaliel A. Cordoba led CoA officials in recognizing the SEDP graduates.

The Commission on Audit (CoA) held its Senior Executive Development Program (SEDP) graduation ceremony for 20 CoA executives who had successfully completed the SEDP, including defense of their policy papers. The simple graduation ceremony was held at the CoA Sports and Cultural Center on Dec. 17, 2024.

The SEDP aims to constantly develop competent and competitive leaders. By virtue of CoA Resolution No. 2002-009, the program is mandated to ensure the continuing development and formation of CoA’s senior executives to provide competent supervision and leadership thereby ensuring honest and faithful service to the Commission.

CoA Chairperson Gamaliel A. Cordoba led CoA officials in recognizing the SEDP graduates, noting that the ceremony is the culmination of the graduates’ dedication, perseverance and unwavering desire to grow.

“As you move forward, always remember that leadership is not a solitary journey. It is fortified through collaboration, inclusivity and the shared wisdom of those around you. Let us always uphold the mandates of this Commission — to champion transparency, accountability, and good governance in the service of the nation. And to our resource speakers, today’s celebration reflects the enduring impact of your commitment to nurturing future leaders,” Chairperson Cordoba said.

For his part, Commissioner Roland Café Pondoc encouraged the SEDP graduates to embrace leadership that is defined not by power or prestige, but by integrity, purpose, and commitment to serve the Filipino people.

“As graduates of the program, the knowledge and skills you have gained are essential, but it is your unwavering values and dedication to doing what is right, even when difficult or unpopular, that will shape your legacy. As you move forward, may your actions inspire others and leave a meaningful impact, for true success lies in uplifting others and serving with honor, passion, and love for our nation,” Commissioner Pondoc said.

SEDP Batch 2024 is composed of Auditor Norah A. Ansao of CoA Regional Office BARMM, Auditor Arman H. Asnawi of CoA Regional Office IX, Chief Administrative Officer Aida A. Bariata of CoA Regional Office No. VIII, Director Ulysses M. Dela Cruz of the Information Technology Office, OIC Assistant Director Cherry M. Doromal of the Information Technology Office, Atty. Azenith P. Gonzalgo-Pua of the Claims and Adjudication Office-Corporate, Auditor Novilla C. Guibone of the CoA Regional Office No. XIII, Anthony A. Lewis of the Internal Control Systems Advisory Office, Director Douglas Michael N. Mallillin of the Office of the Chairperson, Atty. Fahad D. Mangacop of CoA Regional Office XI, Auditor Jennylyn V. Matila of CoA Regional Office No. II, Auditor Alijandro F II. Millete of the National Government Audit Sector (NGAS) Cluster 4 – Defense and Security, Atty. Alexander B. Mitmug of CoA Regional Office BARMM, Atty. Rosario Joy F. Nebrida of NGAS Cluster 7 — Public Works, Transport and Energy, Auditor Rauf S. Noor of CoA Regional Office XI, OIC – Assistant Director Atty. Eumaida C. Paala-Tiongson of NGAS Cluster 7 — Public Works, Transport and Energy, Auditor Janet L. Pito of CoA Regional Office XI, Auditor Aubrey L. Rico of NGAS Cluster 4 Defense and Security, Atty. Melisa L. San Miguel-Saluñga of NGAS Cluster 7 — Public Works, Transport and Energy Audit Division, and Auditor Janah P. Tapangan of CoA Regional Office No. XIII.

CoA Assistant Commissioner Lito Q. Martin of the Professional and Institutional Development Sector presented the graduates who were subsequently and successfully confirmed by Chairperson Cordoba.

Earlier, the Commission also conducted a recognition ceremony for its resource persons to honor the contributions of CoA officials and personnel, and other individuals who have significantly supported the conduct of CoA’s capacity-building interventions and activities. Around 185 CoA officials and personnel who acted as resources persons were honored.

Director Roberto D. Mabagos, Jr. read Commissioner Mario G. Lipana’s inspirational message which emphasized the value of sharing expertise and knowledge to open new perspectives that are necessary for public service and to encourage serving with dedication and integrity.

The CoA is committed to expand its pool of resource persons to ensure continued efficient and effective delivery of its learning and development programs which are vital to the professional growth of CoA employees and other government agencies.

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Experience the exciting world of Tongits Go at GameZone; play anytime, anywhere

In the ever-evolving world of online gaming, one title has emerged as a standout favorite among card game enthusiasts: Tongits Go. Tongits Go, a digital adaptation of the classic Filipino card game, has captivated the gaming community with its unparalleled blend of strategy, skill, and excitement. Whether you’re a seasoned Tongits player or new to the game, Tongits Go provides an immersive experience that’s accessible anytime, anywhere.

The essence of Tongits Go

Tongits, a beloved Filipino card game, shares similarities with rummy but boasts its own unique twists. In Tongits Go, the objective is simple yet challenging: be the first to eliminate all cards from your hand by forming melds (sets or sequences of cards). The game’s perfect balance of strategy and chance ensures that every match is a thrilling adventure, keeping players engaged and coming back for more.

The digital version stays true to the game’s roots while introducing exciting new features that enhance the overall experience. With Tongits Go, players can enjoy the classic gameplay they love without the need for physical cards or in-person gatherings.

Why Tongits Go is revolutionizing online card games.

  1. Unmatched Accessibility
    One of the most significant advantages of Tongits Go is its accessibility. Gone are the days of needing to coordinate schedules and meet in person for a game night. With Tongits Go, a thrilling match is always at your fingertips. Whether you’re commuting, waiting for an appointment, or simply relaxing at home, you can dive into a game and connect with players from across the Philippines and beyond.
  2. Diverse Game Modes
    Tongits Go goes beyond offering just the standard game. It features a variety of exciting modes to keep the gameplay fresh and engaging:
  • Tongits Plus: This mode offers the classic Tongits experience for traditionalists who love the game in its purest form.
  • Tongits Joker: This mode adds an element of surprise by incorporating joker cards, which introduce new strategic possibilities and unexpected twists.
  • Super Tongits: A unique fusion of card strategy and slot machine excitement, Super Tongits offers a fresh take on the classic game.

These diverse game modes ensure that players of all preferences and skill levels can find a version of Tongits that suits their style.

  1. Competitive Tournaments and Rewards
    Tongits Go offers regular tournaments that test players’ skills for those seeking a more competitive experience. Events like the Tongits Free Bonanza offer opportunities to showcase your abilities and compete for impressive prizes. Players can win real-world items like gadgets or even motorcycles, in addition to in-game bonuses!
  2. Skill Development and Mental Stimulation
    While Tongits Go is undoubtedly entertaining, it’s also an excellent tool for mental stimulation and skill development. Regular gameplay can enhance various cognitive abilities:
  • Decision-making: Players must constantly evaluate their hand and make strategic choices about which cards to keep or discard.
  • Pattern recognition: Identifying potential melds and anticipating opponents’ moves requires keen observation skills.
  • Strategic thinking: Success in Tongits Go relies heavily on planning ahead and adapting to changing game conditions.
  • Memory: Keeping track of discarded cards and opponents’ actions exercises and improves memory function.

Expert Tips for Tongits Go Success

To help you maximize your chances of success in Tongits Go, consider these expert tips:

  1. Focus on Early Meld Formation: Begin forming melds as early as possible in the game. This strategy helps lower your hand’s value and increases your chances of winning quickly or declaring “Tongits” before your opponents can react.
  2. Know When to Fold: Sometimes, it’s best to reduce your losses. If you find yourself with a weak hand, consider folding to minimize point loss. This strategic retreat can save you from heavy penalties and give you a better chance in the next round.
  3. Practice Card Counting: While it may sound complex, keeping track of discarded and picked cards can significantly improve your gameplay. This skill allows you to anticipate your opponents’ moves and make more informed decisions about your own strategy.
  4. Save Low Cards for the Endgame: As the game progresses, try to hold onto low-value cards. If the game ends in a draw, having these low cards in your hand can save you from incurring heavy penalties.
  5. Stay Patient in Competitive Matches: During tournaments or ranked matches, the pressure can be intense. However, it’s crucial to maintain your composure and not rush your decisions. Stay focused on your strategy, and opportunities to turn the game in your favor will present themselves.

The Vibrant Tongits Go Community

One of the most rewarding aspects of Tongits Go is the thriving community of players it has fostered. By joining the game, you’re not just playing cards — you’re becoming part of a vibrant network of enthusiasts who share your passion for Tongits.

The community aspect of Tongits Go adds a social dimension to the game that enhances the overall experience. You can:

  • Connect with players from across the Philippines and around the world.
  • Share strategies and tips with fellow enthusiasts.
  • Engage in friendly competition and build rivalries.
  • Participate in community events and discussions

The Future of Tongits Go

As Tongits Go continues to grow in popularity, the future looks bright for this digital card game. The developers are constantly exploring new ways to enhance the game and provide even more value to players. Potential future developments could include:

  • There are new game modes that further reimagine the classic Tongits experience.
  • Enhanced social features to strengthen the community aspect
  • Expanded tournament structures with even bigger prizes

Dive into the World of Tongits Go

Tongits Go offers an unparalleled online card game experience that combines the best of traditional gameplay with modern convenience and excitement. Whether you’re looking to sharpen your skills, compete for impressive rewards, connect with fellow card game enthusiasts, or simply enjoy a relaxing game after a long day, Tongits Go has something for everyone.

Don’t miss out on the action — download Tongits Go APK today and immerse yourself in a world of strategic gameplay, thrilling tournaments, and endless entertainment.

Your next big win could be just a card away in the exciting world of Tongits Go. So, what are you waiting for? Shuffle up and deal yourself into the ultimate online card game experience!

 

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Eco-friendly Pioneer House BGC tops off; on track for completion in 2025

In photos (from L to R): Earl Ferrer, Pioneer Shared Services Head; Sonny Salvacion, DCI President; Betty Medialdea, Pioneer Insurance President and CEO; Jorge Consunji, DMCI President and CEO; Lorenzo Chan, Jr., Pioneer Group Head; Arch. Jesi Ling, JSLA Senior Architect; Tina de Guzman, Pioneer Shared Financials Head; and Jeremy Coyukiat, Pioneer Real Estate Development and Management Head

Pioneer Insurance, a trusted name in the insurance industry, held the Topping-Off Ceremony for its new building in Bonifacio Global City, marking a significant milestone in its journey to create a space that cares for both people and planet.

Pioneer House BGC is a testament to the company’s commitment to establishing its presence in key cities and strategic locations, bringing it closer to the markets it serves. It is the fifth Pioneer House in the country, with other locations in Makati, Manila, Cebu, and Cagayan de Oro.

At an intimate lunch with project partners and friends held at the Sagana Brasserie BGC, Pioneer Group Head Lorenzo Chan, Jr. underscored the importance of this achievement for the company.

“This development is not just about adding a new address to our name — it’s about building a future that reflects our commitment to sustainability, innovation, and the well-being of the people we serve,” Mr. Chan said.

Pioneer Real Estate Development and Management Head Jeremy D. Coyukiat also took time to reflect on the journey of Pioneer House BGC, “This building stands as a testament to our resilience, adaptability, and vision for the future.”

The Topping-Off Ceremony is a special milestone that celebrates placing the final structural beam, marking the completion of the building’s framework. Currently, it is on track for full completion in December 2025.

Eco-friendly building

Embracing sustainability, Pioneer has designed the building to achieve both Leadership in Energy and Environmental Design (LEED) certification for eco-friendly practices and WELL certification, a global standard that recognizes buildings designed to promote the health and well-being of its occupants.

“Through these globally recognized standards, we’re ensuring that Pioneer House BGC will be an environment where people can thrive, fostering productivity, creativity, and balance. By doing this, we are building not just for today, but for generations to come,” Mr. Chan expressed.

Construction Journey

Mr. Coyukiat recounted Pioneer House BGC’s journey beginning with its groundbreaking in October 2019. It marked the launch of one of the company’s most ambitious projects.

Forced to temporarily pause the project in 2020 due to the pandemic, the project evolved with a renewed vision for the future workplace. In January 2022, JSLA Architects were engaged to redesign the building to meet post-pandemic needs.

Construction of the updated design resumed in October 2022, marking a new chapter of progress. Key construction milestones progressed on schedule, culminating in the completion of the building’s structural framework on Nov. 5, 2024.

“The next milestone will be the project’s completion on Dec. 1, 2025, when Pioneer House BGC will become the new home for our operations and a symbol of resilience,” Mr. Coyukiat said.

The ceremony was attended by special guests and project partners, including Messrs. Chan and Coyukiat; Jorge Consunji, DMCI President and CEO; Arch. Jesi Ling, JSLA’s Senior Architect, Design Team; Betty Medialdea, Pioneer Insurance President and CEO; Tina de Guzman, Pioneer Shared Financials Head; Sonny Salvacion, DCI President; and Earl Ferrer, Pioneer Shared Services Head.

 

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Philippines president says legal experts to consider clemency requests for convict Veloso

Mary Jane Veloso is emotional upon seeing her parents, sons and other family members inside the Correctional Institute for Women in Mandaluyong City, Dec. 18. PHOTO BY MIGUEL DE GUZMAN, The Philippine Star

MANILA – Philippines President Ferdinand Marcos Jr said legal experts would consider clemency requests for Mary Jane Veloso, who had been sentenced to death in Indonesia for drug trafficking before the two countries reached a deal for her repatriation this week.

Ms. Veloso, 39, had received a last-minute reprieve from execution by firing squad for drug trafficking in Indonesia in 2015. After years of negotiations, she returned to Manila on Wednesday to serve the remainder of her sentence.

“We’re aware of the request for clemency from her representative, of course, and from her family,” Mr. Marcos told reporters on Thursday.

“We leave it to the judgment of our legal experts to determine whether the vision of clemency is appropriate.”

Indonesia did not set any conditions on the return of Veloso, Mr. Marcos said.

“We are still far from that,” Mr. Marcos said when asked about clemency. “We still have to have a look at really what her status is.”

Ms. Veloso, a former domestic helper and mother of two, was arrested in Yogyakarta in 2010 after being found with 2.6 kg (5.73 lb) of heroin concealed in a suitcase.

She said she was an unwitting drug mule, but she was convicted and sentenced to death, prompting an outcry in the Philippines.

Ms. Veloso was repatriated days after the five remaining members of the “Bali Nine” drug ring were sent back to Australia from Indonesia. — Reuters

Fed lowers rates but sees fewer cuts next year due to stubbornly high inflation

FEDERAL RESERVE

WASHINGTON – The U.S. central bank cut interest rates on Wednesday, as expected, but Federal Reserve Chair Jerome Powell said more reductions in borrowing costs now hinge on further progress in lowering stubbornly high inflation, remarks that showed policymakers are starting to reckon with the prospects for sweeping economic changes under a Trump administration.

Powell’s explicit – and repeated – references to the need for caution from here on jolted Wall Street, sending stocks sharply lower, bond yields higher and leading investors to dial back estimates of how far borrowing costs are likely to fall over the coming year.

“I think we’re in a good place, but I think from here it’s a new phase and we’re going to be cautious about further cuts,” Powell said at a press conference after the central bank’s policy-setting Federal Open Market Committee cut its benchmark interest rate by a quarter of a percentage point at the end of a two-day meeting.

Powell described at length the ways in which inflation has improved since peaking in 2022, as well as the ways it has disappointed by moving “sideways” in recent months, with shelter costs in particular improving more slowly than the Fed expected.

While he said the Fed remained confident price pressures would continue to ease, he also acknowledged central bank staff and policymakers were beginning to at least preliminarily think through how President-elect Donald Trump’s promises of higher tariffs, tax cuts and tougher immigration policy will change the outlook.

In developing new projections, “some people did take a very preliminary step and start to incorporate highly conditional estimates of economic effects of policies into their forecasts at this meeting,” Powell said of an outlook in which U.S. central bankers anticipated a higher inflation outlook and fewer rate cuts next year.

An index of policymakers’ sense of risk around their projections also shifted sharply higher for inflation, with a separate measure of uncertainty increasing as well in an abrupt change from the outlook issued in September, before the Nov. 5 U.S. presidential election.

Powell said those changes were largely driven by data, but analysts saw the beginnings of a reckoning with Trump policies that many expect will add to inflation pressures.

The new projections show officials expect the personal consumption expenditures price index excluding food and energy costs, or core PCE, to be stuck at 2.5% through 2025, an improvement over this year’s 2.8% but significantly higher than the Fed’s 2% target.

“Uncertainty and upside risks to core PCE inflation both up sharply since September. This seems to largely reflect new government policies’ potential impact,” said Karim Basta, chief economist with III Capital Management.

ONE DISSENT
The Fed, which hiked rates aggressively in 2022 and 2023 to combat a surge in inflation, began its easing cycle in September with a half-percentage-point cut in borrowing costs, and followed up with a quarter-percentage-point cut last month.

Going into this week’s meeting the central bank had been widely expected to deliver a “hawkish” rate cut by estimating roughly half the policy easing in 2025 than the 100 basis points policymakers had projected three months ago. But by the time Powell had finished speaking, only one 25-basis-point cut for next year was reflected in market pricing.

The changed outlook highlights some of the challenges Trump may face delivering on key campaign promises, with tighter Fed policy likely keeping important consumer interest rates like those on home mortgages elevated, and less improvement on inflation undermining his pledge to lower prices.

Powell even said the decision to lower the policy rate to the 4.25%-4.50% range this time was a “closer call” than implied by financial markets that considered the cut a near certainty ahead of the meeting.

The decision drew a dissent from Cleveland Fed President Beth Hammack, who joined the central bank earlier this year and indicated she would have preferred to leave rates unchanged at this week’s meeting.

But Powell was also clear that the baseline outlook was for the economy to continue to perform well with ongoing growth, low unemployment and inflation that officials expect to drift slowly lower.

Rates will fall again once inflation shows it is making more progress, “with the extent and timing of additional adjustments to the target range” depending on “incoming data, the evolving outlook, and the balance of risks,” the Fed said in new language that sets up a likely pause to the rate cuts beginning at the Jan. 28-29 meeting.

U.S. central bankers now project they will make just two quarter-percentage-point rate reductions by the end of 2025.

That is half a percentage point less in policy easing next year than officials anticipated as of September, with Fed projections of inflation for the first year of the new Trump administration jumping from 2.1% in their prior projections to 2.5% in the current ones.

Slower progress on inflation, which is not seen returning to the 2% target until 2027, translates into a slower pace of rate cuts and a slightly higher ending point for rates at 3.1%, also to be hit in 2027, versus the prior “terminal” rate of 2.9% seen as of September.

TRUMP UNCERTAINTY
The new policy rate is now a percentage point lower than the peak reached in September when officials concluded inflation was likely on the way back to the 2% target and that there were risks to the job market of keeping monetary policy too tight for too long.

Key measures of inflation have changed little since then, while continued low unemployment and stronger-than-expected economic growth have sparked debate among policymakers about whether monetary policy is as tight as thought.

Though Trump doesn’t take office until Jan. 20, Powell said that Fed staff have been gaming out different scenarios for what could be an unpredictable year.

“It’s very premature to try to make any kind of conclusion. We don’t know what will be tariffed, from what countries, for how long and what size. We don’t know whether there will be retaliatory tariffs,” Powell said. “What the Committee is doing now is discussing pathways and understanding the ways in which tariffs can affect inflation.” — Reuters

Amazon workers to strike at multiple US warehouses during busy holiday season

REUTERS

Thousands of Amazon.com workers will walk off the job on Thursday morning, in the crucial final days of the holiday season, after union officials said the retailer failed to come to the bargaining table to negotiate contracts.

The strike is a challenge to Amazon’s operations as it races to fulfill orders during its busiest season of the year, although union-represented facilities represent only about 1% of Amazon’s hourly workforce. In the New York City area, for example, the company has multiple warehouses and smaller delivery depots.

The International Brotherhood of Teamsters said unionized workers at facilities in New York City; Skokie, Illinois; Atlanta, San Francisco and southern California will join the picket line to seek contracts guaranteeing better wages and work conditions.

The Teamsters union has said it represents about 10,000 workers at 10 of the company’s U.S. facilities. Workers at seven of those facilities will walk out on Thursday, the Teamsters said.

An Amazon spokesperson did not respond to a request for comment.

The union had given Amazon a deadline of Sunday to begin negotiations, and workers at facilities voted recently to authorize a strike.

Teamsters local unions are also putting up picket lines at hundreds of Amazon Fulfillment Centers nationwide, the union said in a statement on Wednesday.

Observers said Amazon is unlikely to come to the table to bargain, calculating it could open the door to additional union actions.

“Amazon clearly has developed a strategy of ignoring their workers’ rights to collectively organize and negotiate,” said Benjamin Sachs, a Harvard Law School professor of labor and industry.

He noted that more than two years after workers at a Staten Island warehouse became the first in the United States to vote to unionize, Amazon still has not recognized the group.

 

RIGHT TO ORGANIZE

Amazon, which has said it prefers direct relationships with workers, has challenged union drives while saying workers have the right to organize.

The company has filed objections with the National Labor Relations Board (NLRB) over the 2022 Staten Island election, alleging bias among agency officials, among other issues. Further, Amazon challenged the constitutionality of the NLRB itself in a September federal lawsuit.

The Seattle-based company has also said the Teamsters “attempted to coerce” workers illegally to join the union.

The Teamsters said the Staten Island warehouse could join the strike at any time, as well as another southern California facility that had earlier voted to join the walkout.

Amazon is unlikely, at least initially, to come to the table with the Teamsters because there is little legal pressure to do so, said Jake Rosenfeld, a sociology professor at Washington University in St. Louis who has studied unions. He noted that there has been no apparent penalty to Amazon for ignoring the Staten Island workers’ demands.

“It’s been a very successful strategy, the work continues there and there is still no contract,” said Rosenfeld.

In recent years, Amazon.com has faced worker walkouts in Spain and Germany, among other regions, over pay and working conditions.

As the world’s second-largest private employer after Walmart WMT.O, Amazon has long been a target for unions. Some workers have said Amazon’s emphasis on greater speed and efficiency can lead to injuries, while Amazon has said it pays industry-leading wages and regularly introduces automation designed to reduce repetitive stress.

The company will face other union actions in the months ahead. Workers at a Philadelphia Whole Foods in November filed to hold a union election, the first since Amazon acquired the grocery chain in 2017.

Last month, an administrative judge ordered a third union election at an Alabama warehouse after ruling Amazon had acted unlawfully to thwart unionization there.

Earlier this year, Amazon announced a $2.1 billion investment to raise pay for fulfillment and transportation employees in the U.S., increasing base wages for employees by at least $1.50 to around $22 per hour, a roughly 7% increase. – Reuters

BOJ keeps rates steady, hawkish board member dissents

WIKIPEDIA.ORG

TOKYO – The Bank of Japan kept interest rates unchanged on Thursday but one dissenting board member’s proposal to push up borrowing costs showed the bank remains on track to tighten policy early next year.

As widely expected, the nine-member BOJ board voted 8-1 to keep its short-term policy rate unchanged at 0.25% in a sign policymakers preferred to tread cautiously amid uncertainty over U.S. president-elect Donald Trump’s economic plans.

However, dissenting board member Naoki Tamura, a known policy hawk, proposed raising interest rates to 0.5% on the view inflationary risks were building. His proposal was voted down.

The BOJ’s meeting concluded hours after the U.S. Federal Reserve cut interest rates but signaled a more cautious path of easing next year, sending global stocks sharply lower.

“The decision to keep rates on hold was widely expected by investors, so I don’t expect a big market reaction,” said Ben Bennett, Asia-Pacific investment strategist at Legal and General Investment Management in Hong Kong.

“That said, the hawkish Fed dot plot overnight gave the BOJ an option to increase rates, and there was one dissenting vote for a 25-bp hike, so it looks like rates will be going up early in 2025.”

The yen fell immediately after the decision to hit a one-month low of 155.28 to the dollar, before paring some of the losses.

Markets are focusing on BOJ Governor Kazuo Ueda’s press conference, expected at 3:30 p.m. JST (0630 GMT), for clues on whether the bank could raise rates in January or March.

In a statement announcing the policy decision, the BOJ said Japan’s economy was recovering moderately albeit with some weakness. It maintained its assessment that consumption was increasing moderately as a trend.

The BOJ also reiterated its warning that uncertainty surrounding Japan’s economy and prices remained high.

Many market players see a declining yen among key incentives for the BOJ to hike rates or offer hawkish communication, as the currency’s weakness pushes up inflation via higher import costs.

The BOJ ended negative interest rates in March and raised its short-term policy target to 0.25% in July. It has signaled a readiness to hike again if wages and prices move as projected.

But the central bank had been guarded about the timing of the next rate hike, causing market expectations of a move to fluctuate between December and January.

All respondents in a Reuters poll taken earlier this month expect the BOJ to raise rates to 0.50% by end-March.

Japan’s economy expanded an annualized 1.2% in the three months to September, slowing from the previous quarter’s 2.2% increase, with consumption up a feeble 0.7%.

BOJ policymakers hope regular pay, which has risen at a year-on-year pace of 2.5% to 3% recently, keeps increasing and supports consumption.

There are growing signs companies are keen to continue hiking pay due to intensifying labor shortages, boding well for the BOJ’s plan to keep raising interest rates gradually.

But slowing demand in China and uncertainty over the fallout from Trump’s policies could weigh on corporate profits and discourage some of them from boosting pay.

After peaking at 4.2% in January 2023, core inflation has slowed steadily to hit 2.3% in October and shows few signs of flaring up with wage-driven price pressure remaining moderate. – Reuters

India extends halt on futures trading in key farm commodities until January

STOCK PHOTO | Image by jorono from Pixabay

MUMBAI – India extended the suspension of trading in derivative contracts for key farm commodities until January, as the world’s largest importer of vegetable oils and a major producer of wheat and rice seeks to curb food inflation.

The Securities and Exchange Board of India (SEBI) initially ordered a year-long suspension of futures trading in key farm commodities in 2021 — a significant move since futures trading was allowed in 2003.

The suspension was first extended until December 20, 2023, and later to December 20, 2024.

In a notification issued late on Wednesday, SEBI said the suspension of trading in futures contracts would now continue until January 31, 2025, on soybean and its derivatives, crude palm oil, wheat, paddy rice, chickpeas, green gram and rapeseed.

“Instead of extending the ban for a year as it did in the past two instances, it has extended it for only one month. This is a good sign. Perhaps futures trading will be allowed early next year,” said a Mumbai-based dealer with a global trade house.

The Indian vegetable oil industry has been seeking the resumption of futures trading to help importers hedge their risks and provide oilseed growers with an indication of future price movements.

The resumption of futures trading in soybean, rapeseed, and their derivatives would help bring stability to oilseed prices, said B V Mehta, executive director of The Solvent Extractors’ Association of India.

India meets nearly two-thirds of its edible oil requirements through imports, primarily of palm oil from Indonesia and Malaysia, as well as soy oil and sunflower oil from Argentina, Brazil, Russia, and Ukraine.

India’s National Commodity and Derivatives Exchange (NCDEX), which derives most of its volume from trading in farm commodities, was the most affected by the government’s decision, followed by the Multi Commodity Exchange. – Reuters

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