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Aboitiz InfraCapital to expand airport assets

NEW BOHOL-PANGLAO INTERNATIONAL AIRPORT — ABOITIZINFRACAPITAL.COM

By Ashley Erika O. Jose, Reporter

ABOITIZ InfraCapital, Inc. is keen to develop and operate more regional airports in the country, its president said.

“If it is something feasible for us, business-wise, then we will definitely participate,” Aboitiz InfraCapital President and Chief Executive Officer Cosette V. Canilao said on the sidelines of BusinessWorld Forecast 2025 forum on Tuesday.

The Department of Transportation expects to start the process of selecting a company to manage and operate the Davao International Airport next year.

The agency has said it is planning to offer the Davao airport via a solicited mode after it signed a transaction advisory service agreement with the International Finance Corp.

Three more airports are slated for privatization next year — the Iloilo, Puerto Princesa, and Kalibo airports. These airports are expected to undergo Swiss challenges.

Asked whether Aboitiz InfraCapital is interested in challenging the original proponent for the Iloilo airport, Ms. Canilao said that the company would further assess the terms. “We will see. I cannot say that we will go for it. But we will certainly evaluate it.”

The group has submitted an unsolicited proposal to develop and improve the Iloilo International Airport. However, Prime Asset Ventures Inc. was given the original proponent status for its proposal to operate, maintain and expand the airport.

The infrastructure arm of the Aboitiz group is set to take over the operations and maintenance, respectively, of two regional airports — the New Bohol-Panglao International Airport and Laguindingan International Airport 2025.

For the New Bohol-Panglao International Airport, the company will partner with the same foreign company it tapped for Laguindingan International Airport, Ms. Canilao said.

Last month, Aboitiz InfraCapital said it would partner with Ireland-based daa International for the upgrade and operation of the Laguindingan International Airport in Misamis Oriental.

For both regional airports, Aboitiz InfraCapital said improvements and modernization efforts would be implemented as early as 2025.

According to the timetable set by the Transportation department, the government will hand over the operations of Laguindingan and Bohol airports to the private operator by April and June, respectively.

Aboitiz InfraCapital plans to expand Laguindingan’s capacity, she said, adding that it is seeking to improve the facilities and develop the traffic movement for Bohol Airport.

“For Laguindingan, we are going to tackle that immediately,” Ms. Canilao said. “For Bohol, it does not require that much rehabilitation… We need to develop the traffic because there are rooms to allow tourists to come in.”

Aboitiz InfraCapital has also taken full control of Mactan-Cebu International Airport after acquiring Megawide Construction Corp.’s remaining equity stake in the airport.

Ateneo Press, UP Press named publishers of the year

UNIVERSITY OF THE PHILIPPINES PRESS FACEBOOK ACCOUNT

Manila Critics Circle to rebrand to Filipino Critics Circle

THE Ateneo de Manila University Press and the University of the Philippines  (UP) Press were jointly named Publisher of the Year at the 42nd National Book Awards on Nov. 23. Each of them had seven winning titles this year.

The event’s organizers — the National Book Development Board (NBDB) and the Manila Critics Circle (MCC) — awarded 33 winners across literary, non-literary, design, and publishing categories.

In light of the Philippines’ selection as the Guest of Honor at the 2025 Frankfurt Book Fair, NBDB Executive Director Charisse Aquino-Tugade noted that the Philippine book publishing scene is in the midst of a historic milestone.

“We are here to finally represent, and to push for our stories out of the periphery and into that much coveted spotlight on the global stage as a central, vital contributor to the world’s literary heritage,” she said in her opening speech.

Ms. Aquino-Tugade acknowledged the contradictions in the milestone. “Some of you may ask, why focus on the international when we have much work to do in sustaining domestic growth? After years of working towards this honor, we have come to realize that creating an international market for our stories and championing the local is far from being mutually exclusive,” she said.

The National Book Awards and the Frankfurt Book Fair are both proof that NBDB aims to “take every possible avenue to let every reader in the world know of not just the endless possibilities and turns that our stories can take, but also of how far we have come as a storytelling nation.”

REBRANDING
Meanwhile, MCC chair Dean Francis Alfar made an announcement with regards to how to better nurture the Philippine literary ecosystem: “As of next year, we are officially rebranding the MCC to Filipino Critics Circle.”

“We’d like to increase our membership with more representation from various sectors outside of Manila, because this is long overdue,” Mr. Alfar said in his closing speech. “We no longer want to be Manila-centric in name.” — Brontë H. Lacsamana


Below is the full list of winners for this year’s National Book Awards:

LITERARY
Best Novel in English1762: A Novel by Vin dela Serna Lopez (Ateneo de Manila University Press)

Special Citation for Novel in EnglishBut for the Lovers by Wilfrido D. Nolledo (Exploding Galaxies)

Best Novel in FilipinoTeorya ng Unang Panahon by Edgar Calabia Samar (Ateneo de Manila University Press)

National Artist Cirilo F. Bautista Prize for Best Book of Short Fiction in EnglishThe Collected Stories of Gregorio C. Brillantes by Gregorio C. Brillantes (Ateneo de Manila University Press)

Gerardo P. Cabochan Prize for Best Book Short Fiction in FilipinoMga Kalansay sa Hardin ng Panginoon: Isang Koleksiyon ng Maikling Kuwento by Ronaldo Soledad Vivo, Jr. (Self-Published)

Pablo A. Tan Prize for Best Book of Nonfiction Prose in EnglishBalik-Tanaw: The Road Taken by Soledad S. Reyes (De La Salle University Publishing House)

Special Citation for Nonfiction Prose in English Daraga: Mirrors & Memory Essays by Marne Kilates (Savage Mind Publishing House)

Best Book of Nonfiction Prose in FilipinoPatining at Iba Pang Sanaysay by Soliman A. Santos (University of the Philippines Press)

Best Anthology in EnglishBordered Lives No More: The Humanities and the Post-COVID-19 Recovery edited by Dinah Roma (De La Salle University Publishing House)

Best Anthology in Filipino — Bata, Hiwaga, Bansa: Pamana ni Rene O. Villanueva sa Panitikang Pambata edited by Eugene Y. Evasco and Cheeno Marlo M. Sayuno (University of the Philippines Press)

Best Book of Literary Criticism/Cultural Studies Ang Bisa ng Pag-uulit sa Katutubong Panitikan by Alvin B. Yapan (Ateneo de Manila University Press)

Best Book on Media StudiesAng Mahaba’t Kagyat ng Buhay ng Indie Sinema edited by Rolando B. Tolentino and Aristotle J. Atienza (University of the Philippines Press in collaboration with QCinema International Film Festival)

Philippine Literary Arts Council Prize for Best Book of Poetry in EnglishIt Is Time to Come Home: New & Collected Poems by Marjorie Evasco (Milflores Publishing, Inc. and De La Salle University Publishing House)

Victorio C. Valledor Prize for Best Book of Poetry in FilipinoTurno Kong Nokturno: Mga Bago at Piling Tula by Lamberto E. Antonio (University of the Philippines Press and UP Institute of Creative Writing)

Best Graphic Novel and Comics in EnglishSa Wala by Renren Galeno  (Komiket Inc.)

Best Graphic Novel and Comics in Filipino Sining Killing by Randy Valiente (Komiket Inc.)

Best Translated Book in EnglishHubad: Ester Tapia by Ester Tapia, translated by Merlie M. Alunan (University of the Philippines Press and UP Institute of Creative Writing)

Best Translated Book in FilipinoPalaisgen: Epikong-bayan ng mga Tagbanua ng Aborlan, Palawan by Paul D. Jagmis Sr., Gem-Gem Bagued, Fernando Lingsan, Delia Jardinero; translated in English by Jonalyn B. Villarosa and in Filipino by Paul D. Jagmis Sr. and Mary Grace A. Jagmis (National Commission for Culture and the Arts)

Best Translated Book in IlokanoTi Bassit a Prinsipe by Antoine de Saint-Exupery; translated by Cles B. Rambaud and Faye Q. Flores-Melegrito (Southern Voices Printing Press)

Best Book on Drama and FilmLutong Bahay by Glecy Cruz Atienza (Sentro ng Wikang Filipino — University of the Philippines Diliman)

Best Book on Short Fiction in BikolKalatraban sa Alkawaraan by Niles Jordan Breis (Ateneo de Naga University Press)

Best Book of Poetry in BikolMayong Katapusan na Pabalon Asin Iba Pang Huyon-Huyon: Mga Rawitdawit by Raul Giga Bradecina (Ateneo de Naga University Press)

NON-LITERARY
Alfonso T. Ongpin Prize for Best Book on Art — Julio Nakpil (1867-1960) Collected Works, Volume Two: Band and Orchestral Music, edited by Maria Alexandra Inigo Chua (University of Santo Tomas Publishing House)

Elfren S. Cruz Prize for Best Book in the Social SciencesPlural Entanglements: Philippine Studies, edited by Dada Docot, Stephan B. Acabado, and Clement C. Camposano (Ateneo de Manila University Press)

Best Book in PhilosophyCritical Theory at the Margins: Applying Herbert Marcuse’s Model of Critical Social Theory to the Philippines by Jeffry Ocay (Aletheia Printing and Publishing House)

John C. Kaw Prize for Best Book on HistoryTales of Post-Plantation: Unlikely Protagonists of Modern Philippine Banana History by Robin Theirs (Ateneo de Manila University Press)

Best Book on Humor, Sports, Lifestyle, and BusinessSalumpuwit, Bangko, Silya, Atbp: Chairs in Filipino Life by Gerard Lico (Arc Lico International Services and College of Architecture, University of the Philippines)

Best Book on Food Heritage Dishes of the Philippines by Lady Camille de Guia (Vibal Group, Inc.)

Best Book in ScienceWild City: A Photographic Guide to Amphibians, Mammals, and Reptiles of Metro Manila by Jelaine Gan, Trinket Constantino, and Abby Favis (University of the Philippines Press)

Best Book in Spirituality and TheologyBabaylan Sing Back: Philippine Shamans and Voice, Gender, and Place by Grace Nono (Ateneo de Manila University Press)

Best Book on Professions A Cardiologist’s Guide to Lowering High Blood Pressure by Alan S. Tenerife (Self-Published)

Hilarion and Esther Vibal Prize for Best Book in JournalismView from the Foxhole: Shaping the Political into the Personal by Joel Pablo Salud (University of the Philippines Press)

DESIGN
Best Book DesignDogs in Philippine History by Ian Christopher B. Alfonso, design also by him (Philippine Historical Association, Project Saysay Inc., and Alaya Publishing)

Gov’t fully awards reissued five-year T-bonds

BW FILE PHOTO

THE GOVERNMENT made a full award of the Treasury bonds (T-bonds) it offered on Tuesday on the back of strong demand for higher-yielding instruments amid developments in the United States.

The Bureau of the Treasury (BTr) raised P15 billion as planned via the reissued five-year bonds it auctioned off on Tuesday as total bids reached P55.841 billion, or almost thrice the amount on offer.

This brought the outstanding volume for the series to P249.7 billion, the Treasury said in a statement.

The bonds, which have a remaining life of four years and five months, were awarded at an average rate of 5.954%. Accepted yields ranged from 5.92% to 5.973%.

The average rate of the reissued papers jumped by 44.6 basis points (bps) from the 5.508% fetched for the series’ last award on Oct. 3. However, this was 54.6 bps lower than the 6.5% coupon for the issue.

Meanwhile, this was 1.7 bp below the 5.971% seen for the same bond series and 0.1 bp lower than the 5.955% quoted for the five-year bond at the secondary market before Tuesday’s auction, based on PHP Bloomberg Valuation Service Reference Rates data provided by the BTr.

The government made a full award of its T-bond offer as the average rate was “broadly in line with prevailing secondary market rates,” the BTr said.

The BTr saw strong demand for its offering amid improved risk appetite among investors following US yield movements after US President-elect Donald J. Trump selected Scott Kenneth Homer Bessent as the US Treasury Secretary, a trader said in a text message.

“This is also the last five-year issuance for the year,” the trader added.

Mr. Trump’s election win has continued to drive US Treasury yields mostly higher on expectations of “more protectionist policies that could lead to higher US inflation and wider budget deficits that could lead to fewer Federal Reserve rate cuts,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Mr. Trump’s pick to be US Treasury Secretary proved to be a balm for the bond market, while the dollar followed yields lower in a move poised to influence trading in Asia on Tuesday, Reuters reported.

The choice of prominent investor Mr. Bessent made late on Friday, rippled through markets on Monday, after days of speculation over who Mr. Trump would choose to be essentially the highest-ranking US economic official.

Treasury yields, which move opposite to prices, fell sharply, with the benchmark 10-year yield touching its lowest level in more than two weeks. Treasury yields had been rising at a torrid pace, partially due to concerns that Mr. Trump’s presidency would dramatically widen the federal deficit.

But Mr. Bessent was seen as someone who might moderate any negative impact of Mr. Trump’s fiscal policies. Some strategists said his nomination was a relief as he understands markets and his appointment could reduce the severity of potential tariffs, which are favored by Mr. Trump.

Tuesday’s auction was the government’s last T-bond offering for November. The Treasury raised P30 billion as planned via bonds this month as it made full awards at its two auctions.

Overall, the BTr was able to raise the programmed P90 billion via the domestic market in November — P60 billion through Treasury bills (T-bills) and P30 billion from T-bonds.

For December, it plans to raise P75 billion from the local debt market, or P60 billion in T-bills and P15 billion in T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at 6.1% of gross domestic product this year. — Aaron Michael C. Sy with Reuters

San Miguel to finish SLEX expansion in December

COMMONS.WIKIMEDIA.ORG

SAN MIGUEL Corp. on Tuesday said it is on track to complete the expansion of the South Luzon Expressway (SLEX) next month.

“The SLEX expansion is a major undertaking that entailed significant effort and investment, and a lot of patience and cooperation from motorists and stakeholders,” San Miguel Chairman and Chief Executive Officer Ramon S. Ang said in a statement. “We are very glad that motorists can soon enjoy faster trips to and from Southern Luzon.”

The project expansion is being undertaken by the company’s unit SMC SLEX, Inc. The project will widen the expressway to six lanes on each side from four.

San Miguel said the full expansion of the project would be completed by July 2025, including construction on the section from Calamba to Sto. Tomas, Batangas and the expansion of 20 bridges connecting to the main lanes of the SLEX.

The project is expected to improve traffic flow and provide seamless connectivity between southern and northern Luzon, San Miguel said.

Aside from the expansion of the SLEX’s carriageways, San Miguel said toll plazas at the SLEX have also been equipped with automatic license plate reading cameras, in line with the government’s target to implement tollways without barriers.

SMC SLEX set aside P12 billion in capital spending to fund its projects last year, including the construction of the Batangas-to-Lucena expressway and the repair and maintenance of the SLEX. — Ashley Erika O. Jose

Gov’t may issue peso Sukuk bonds next year

THE GOVERNMENT could issue peso-denominated Sukuk bonds next year, a central bank official said.

“No amount yet. But in terms of timeline, Sukuk is part of their planned issuance in 2025,” Bangko Sentral ng Pilipinas (BSP) Assistant Governor Arifa A. Ala told reporters on the sidelines of the Philippines Islamic Finance Roadshow on Tuesday.

Ms. Ala added that a peso-denominated Sukuk bond issuance could be an investment opportunity for Islamic banks in the Philippines, which would support their growth.

“If there are banks with Islamic banking windows who would like to invest in government securities, [a peso-denominated Sukuk bond] can be a form of investment for them,” she said.

Asked to confirm the planned issuance, National Treasurer Sharon P. Almanza said in a Viber message: “We are still exploring this.”

BSP Governor Eli M. Remolona, Jr. said in a speech at the same event that he hopes peso-denominated Sukuk bonds could be issued by both the public and private sector.

“We’re looking forward to peso Sukuks and corporate peso Sukuks,” he said.

The government first issued Islamic debt in December 2023, raising $1 billion from the sale of 5.5-year dollar-denominated Sukuk bonds, twice the benchmark size of at least $500 million. Its profit was set at 5.045%.

Sukuk or Islamic bonds are certificates that represent a proportional undivided ownership right in tangible assets, or a pool of tangible assets. These assets could be in a specific project or investment activity that is Shari’ah-compliant.

The markup takes the place of interest, which is illegal in Islamic law. Murabaha is not an interest-bearing loan but is an acceptable form of credit sale under Islamic law. A Sukuk al-Murabaha certificate cannot be traded on the secondary market.

Unlike usual bonds, Sukuk bond issuances must adhere to Islamic principles and must be structured to prohibit elements such interest, uncertainty and investments in businesses that deal with prohibited goods or services.

A report by the Asian Development Bank (ADB) said the Philippine government is looking to incentivize private sector entities to issue Sukuk bonds to help deepen the domestic Islamic capital market.

“Further Sukuk issuances will create new investment opportunities for investors interested in Islamic finance, promote broader participation in the market, and foster economic development,” the multilateral lender said.

“The government has created the enabling environment by amending laws and regulations and providing tax neutrality provisions. These ensure a level playing field and support the long-term growth of the industry,” the ADB said. “While the Philippines Islamic finance industry is nascent, it presents a significant growth opportunity, with the government’s focus on promoting financial inclusion and a more diverse financial landscape.”

ISLAMIC BANKING WINDOW
Meanwhile, Ms. Ala said two foreign financial entities that are both active in the Philippines have signified interest in applying for an Islamic banking window.

“There are a number of banks and nonbanks which signify interest, but I cannot disclose it because they have not really submitted a formal application. But there are a number of interested potential investors,” she said.

The three entities with Islamic banking operations in the country are the state-owned Al Amanah Islamic Investment Bank, Maybank Philippines, which began operations in August, and CARD Bank, Inc., which opened an Islamic banking branch in Cotabato City this year. — Aaron Michael C. Sy

Story on selling virginity tops Palanca Nobela category

FILIPINO author Eros Sanchez Atalia won big at the 72nd Carlos Palanca Memorial Awards for Literature, held at the Philippine International Convention Center on Friday night.

A survivor of COVID-19 and a longtime writer of novels, short stories, and poems, Mr. Atalia received the Grand Prize for the Nobela category for Thirty Virgins and was inducted into the Palanca Hall of Fame for the remarkable feat of winning 1st Prize five times in various categories.

The Palanca’s Novel and Nobela categories are open only every two years.

Mr. Atalia’s winning novel is “inspired by real events.” It came about after the author watched a YouTube video about a woman who auctioned off her virginity.

“I wondered, what if this happened in the Philippines? I contextualized it and localized it, so we follow a main character with a financially troubled family who goes into this line of work,” Mr. Atalia told BusinessWorld at the sidelines of the awarding ceremony.

Ayaw niya sana pero inalukan siya na mag-interbyu doon sa 30 virgins na binebenta ang virginity sa mga tao abroad for P1 million (The character is unwilling at first, but is offered to interview the 30 virgins who sell their virginity to people abroad for P1 million),” he explained.

He said that the challenge with local works about characters forced to operate in morally gray areas is “conveying their importance as stories that can’t be told in a regular classroom, in a Catholic setting.” He revealed that the goal is for the novel to be published by next year.

Meanwhile, University of the Philippines Diliman instructor Lakan Umali was the Grand Prize winner of the Novel category for The Ferdinand Project, a work where “humanity and empathy shine amid dark situations.”

Avoiding spoilers, Ms. Umali described the novel as a playful depiction of the Philippines today. “I think that with the absurdity and chaos of the world around us, we really have to find newer, more playful ways to talk about it without diminishing the gravity of our situation,” she said.

Ms. Umali, who is transgender, told BusinessWorld that this recognition she just received in the field of literature is “a small yet important step in trans representation, showing that queerness is not just political football, but proof of trans people’s existence.”

She hopes to revise her novel based on feedback from her master’s degree thesis advisers at the UP College of Arts and Letters.

NEW HALL OF FAMERS
Aside from Mr. Atalia, three other writers made it this year to the Palanca Hall of Fame, which now totals 30 people.

Cagayan de Oro-based poet Mikael de Lara Co got the award following a win in the Tula category with “Panayam sa Abo.” He also won in this same category last year, with “Epistolaryo ng Bagamundo at ang tugon ng Multo.”

Playwrights and friends Joshua Lim So and Miguel Antonio Alfredo Luarca each entered the elite circle with prizes in the play categories. Mr. So’s Pagkapit Sa Hangin garnered first place as a Filipino one-act play, while Mr. Luarca’s Corridors clinched first place in the English full-length play category.

For Mr. Atalia, being a Hall of Famer legitimizes one’s work. “These are experts, writers, academics, literary scholars who appreciate your work,” he explained.

Nakakatuwa kasi parang naka-tsamba ulit, ‘di ba? Pang-limang tsamba na! (It’s exciting because it still feels like luck, you know? Like you lucked out for the fifth time!)”

The Awards also honored the achievements of 31 new writers from a total of 54 awardees in four divisions: Kabataan, English, Filipino, and Regional Languages.

HOW WE WRITE
Acclaimed Filipino filmmaker Jun Robles Lana was the guest of honor and speaker at this year’s ceremony and the recipient of the Gawad Dangal ng Lahi award.

Mr. Lana has won 12 Palanca Awards prizes and was inducted into the Hall of Fame in 2006. His award-winning films include Mga Kwentong Barbero, Anino sa Likod ng Buwan, Die Beautiful, Kalel, 15, and About Us But Not About Us, his timely stories reflecting contributions to both Philippine literature and cinema.

In his speech, Mr. Lana posed the question: “How do we write in this complex present?”

It is in the context of a fast-changing world inundated with data that he questioned writers’ influence.

“There was a time when we imagined that it was the lack of information that was keeping us in a dictatorship, yet the present has proven us wrong. We now have the information, but how many of us would be able to say that this has brought an exponential growth in our audiences, or that it has meant better conversations?”

Mr. Lana cited the difficulty Filipinos have in determining what are facts, propaganda, and unjustified opinions. He shared his experience as a storyteller and filmmaker, making connections with others who helped nurture his talent and accompany him in navigating the burden of speaking truth in a complicated world.

He concluded: “We write by breaking the silence and the voice of the voiceless, for those who have been marginalized and forgotten, those who struggle in the shadows and the sea and the earth. We write by illuminating stories that would otherwise be kept in the dark, no matter how challenging, because those stories are the ones that will shape our future.” — Brontë H. Lacsamana


Winners of the 72nd Palanca Awards

ENGLISH DIVISION
Novel

1st Prize — The Ferdinand Project by Lakan Ma. Mg. D. Umali

2nd Prize — The People’s Republic of Negros by Michael Aaron Gomez

Short Story

1st prize — “Muted City” by Jan Kevin M. Rivera

2nd Prize — “The Man Who Sold Dignity” by Antonio Hernandez

3rd Prize — “Bee Happy” by Kiefer Adrian Z. Occeño

Short Story for Children

1st Prize — NO WINNER

2nd Prize — NO WINNER

3rd Prize — “A Young Poet Dreams of a Hundred Words that Rhyme with Maynila” by Edgar C. Samar

Essay

1st Prize — “Ghost-hunting in Sagada” by Lioba Asia E. Piluden

2nd Prize — “Another Hope Entirely” by Kara Danielle Eraña Medina

3rd Prize — “A Personal History of Sea Urchins” by Jade Mark B. Capiñanes

Poetry

1st Prize — “Silangan” by Joel M. Toledo

2nd Prize — “La Muerte De La Luz” by Lyde Gerard Sison Villanueva

3rd Prize — “We Are Not Yet Lost” by Ana Maria Segunda K. Lacuesta

Poetry Written for Children

1st Prize — “Every Year, J Gained a Power” by Edgar C. Samar

2nd Prize — “Where are the Dinosaurs?” by Stacy Haynie Bolislis Ayson

3rd Prize — “Thirteen Ways of Looking at Books” by Peter Solis Nery

One-act Play

1st Prize — Unidentified by Eljay Castro Deldoc

2nd Prize — The Impossible Dream by Miguel Antonio Alfredo V. Luarca

3rd Prize — Line Up by Kenneth Theodore Cheng Keng

Full-length Play

1st Prize — Corridors by Miguel Antonio Alfredo V. Luarca

2nd Prize — Birdie by Dustin Edward D. Celestino

3rd Prize — The Echoist by Emilio Antonio Babao Guballa

FILIPINO DIVISION
Nobela

1st Prize — Thirty Virgins by Eros Sanchez Atalia

Special Prize — NO WINNER

Maikling Kuwento

1st Prize — “Gagambang-bahay” by Mark Anthony Angeles

2nd Prize — “Siya si Ril” by Hannah A. Leceña

3rd Prize — “Ang Lungga” by Aljane C. Baterna

Maikling Kuwentong Pambata

1st Prize — “Musikong Bumbong” by Christopher S. Rosales

2nd Prize — “Si Bambalito, ang Batang Bayani ng Bangkusay” by Brian James S. Camaya

3rd Prize — “Atang Para kay Nanang Toyang” by John Patrick F. Solano

Sanaysay

1st Prize — “Tulambuhay ng Isang Makatang Laway” by Tomas F. Agulto

2nd Prize — “Autoetnograpiya ng Luksa” by David R. Corpuz

3rd Prize — “Love Child” by Adelle Liezl Chua

Tula

1st Prize — “Panayam sa Abo” by Mikael de Lara Co

2nd Prize — “Paa, Tuhod, Balikat ng Tagakaulo: Higatang sa Pangil ng Pana-panahong Pagkalugmok” by John Dave B. Pacheco

3rd Prize — “Dugo ng Aking Dugo” by John Brixter M. Tino

Tula Para Sa Mga Bata

1st Prize — “Anak ng Baha! Mga Tulang Pambata” by John Romeo Leongson Venturero

2nd Prize — “Saklolo, Trak ng Bumbero!” by John Michael G. Londres

3rd Prize — “Add to Cart at iba pang mga Tula” by Eros Sanchez Atalia

Dulang May Isang Yugto

1st Prize — Pagkapit Sa Hangin by Joshua Lim So

2nd Prize — Vengeance of the Gods by Hans Pieter Luyun Arao

3rd Prize — Ang Trahedya ni Bert by U Z. Eliserio

Dulang Ganap ang Haba

1st Prize — NO WINNER

2nd Prize — Ardor by Miguel Antonio Alfredo V. Luarca

3rd Prize — Ka Amado by Andrew Aquino Estacio

Dulang Pampelikula

1st prize — Championship by Andrew Bonifacio L. Clete

2nd Prize — Paglilitis by Raymund T. Barcelon

3rd Prize — Dobol by Rian Jay G. Hernandez

REGIONAL DIVISION
Short Story-Cebuano

1st Prize — “Pamalandong ni Antigo Mokayat” by Michael Aaron Gomez

2nd Prize — “Anino” by Reynaldo A. Caturza

3rd Prize — “Maninibya” by Gracelda I. Lina

Short Story-Hiligaynon

1st Prize — “Ang Liwat nga Paglupad ni Lolo” by Serafin I. Plotria, Jr.

2nd Prize — “Labô” by Bryan Mari Argos

3rd Prize — “Anagas, Anagas, Baylo ’Ta Ngalan” by Al Jeffrey L. Gonzales

Short Story-Ilokano

1st Prize — “Panaggawid” by Neyo E. Valdez

2nd Prize — “Uram” by Ma. Lourdes Ladi Opinaldo

3rd Prize — “Anniniwan” by Prodie Gar. Padios

KABATAAN DIVISION
Sanaysay

1st Prize — “Dito sa Kanlungan ng Hiraya’t Katotohanan” by Glorious Zahara Exylin C. Alesna

2nd Prize — “Sinulid at Buhay” by Raya T. Mitra

3rd Prize — “Bura, Sulat” by Lancelot MJ T. Edillor

Essay

1st Prize — “The Digital Snowball” by Brant Angelo S. Ambes

2nd Prize — “My Humanly Unhuman Friend” by Ruth Mecanelle Magolhado

3rd Prize — “Some Things Must Never Change” by Glorious Zahara Exylin C. Alesna

Land lease deal signed for Alabat Wind Power project

A wind turbine is seen in this file photo. — REUTERS

A UNIT of Alternergy Holdings Corp. has sealed a long-term lease with the Philippine National Railways (PNR) for a portion of the latter’s property in Quezon province, making way for its P7-billion wind power project.

Alabat Wind Power Corp. has secured the location for the switching station of its 64-megawatt (MW) Alabat Wind Power project, Alternergy said in a statement on Tuesday.

Situated in the municipalities of Alabat and Quezon, the wind power project is expected to become the first wind project in the province. It is targeted to be completed by end-2025.

“Our collaboration with Alternergy supports the government’s renewable energy targets and is in line with PNR’s sustainability goals,” Deovanni S. Miranda, PNR’s general manager, said in the statement.

Earlier this month, Alternergy said it had infused P1.1 billion in Alabat Wind Power to bankroll the construction of the project.

The company has secured P5.3 billion in project financing from Rizal Commercial Banking Corp. for the project.

With 86 MW of energy capacity in its portfolio, Alternergy is targeting to reach 500 MW of generating capacity by 2026.

Alternergy shares were unchanged at P0.90 each at the close of trading. — Sheldeen Joy Talavera

Duct-taped banana artist says his work is a ‘provocation’ on value of art

SOTHEBYS.COM

ROME — The Italian artist who created the banana duct-taped to a wall that sold last week for $6.2 million, said in an interview published on Friday that the work was a “provocation” and an invitation to appreciate the true value of art.

Comedian, by Maurizio Cattelan, was snapped up on Wednesday last week at auction at Sotheby’s in New York by Chinese cryptocurrency entrepreneur Justin Sun. It first rocked the art world in 2019 on its debut at Miami’s Art Basel.

“It’s a provocation that invites us to reflect on the value of art and the dynamics of (this) market, pushing us to question what this work says about us as viewers,” Mr. Cattelan told Italian daily la Repubblica.

The piece of art, whose first version was made with a banana that cost 25 cents, went from a starting price of $800,000 to $5.2 million, plus a buyer’s fee.

“It’s the market that has decided to take a banana stuck on the wall so seriously. If the system is so frail to slip on a banana skin, maybe it was already slippery,” Mr. Cattelan added.

The artist, 64, is known for his hyper-realistic installations and sculptures, which include a fake horse dangling from a ceiling, the late pope John Paul II being hit by a meteorite, and a marble hand with a raised middle finger outside Milan’s Stock Exchange.

Mr. Cattelan also said he was fast asleep when his banana piece went under the hammer, dreaming that his favorite soccer team Atalanta would beat AC Milan at an upcoming Serie A home game.

Comedian is a laugh against a tired system, an invitation to rediscover the power of irony and simplicity,” the artist said. — Reuters

The demographic dividend of the Philippines: Learning from others

PHILIPPINE STAR/RYAN BALDEMOR

(Part 2)

As we saw in Part 1, the Philippines will continue to have a young and growing population for at least the next 40 years, time enough to give our present and future leaders the opportunity to introduce the necessary reforms in our political and economic institutions so that by the decade of 2040 to 2050, the Philippine economy shall have attained high-income status and, more importantly, bring down the poverty incidence as much as possible close to zero, as Singapore and Malaysia have already done. 

We have to avoid like the plague the fate that has befallen Thailand: becoming a super-aged society before becoming rich.  The main reason for this tragedy that has befallen this otherwise buoyant economy was the overemphasis on birth control as a tool for reducing poverty. In an aggressive campaign to push condoms and pills, the Government created a “contraceptive mentality” that is very difficult to reverse at a time when what society needs is to promote a higher birth rate, as is happening today in most countries that have realized that the real population bomb is the rapid ageing of the population, as Elon Musk repeats almost ad nauseam. This was the actual title of an IMF publication written by demographic experts David Bloom and Leo Zucker of Harvard: Ageing is the Real Population Bomb.

In an opinion column in Bloomberg, Tyler Cowen makes the point that today, “there is some evidence that shrinking populations are bad for the global economy. To me, however, the greater tragedy would be the failure to take full advantage of the planet’s capacity to sustain human life. No kind of family policy should be mandatory. But there should be policies that make a larger family a more appealing option, both economically and otherwise.”

This early in our demographic transition, we should make sure that no government policy, on the pretext of fighting poverty, would instill an anti-family and anti-life mentality among our population. There are many more positive ways of reducing mass poverty through the right policies such as emphasis on rural and agricultural development, delivering quality basic education, promotion of small- and medium-scale enterprises, the upskilling and reskilling of the existing labor force and many others. Learning from the desperate moves of countries like Singapore, China, and Thailand to encourage couples to have more children, it would be wise for the Philippine Population Commission to find other ways of implementing the Reproductive Health Law rather than obsessing over promoting the use of contraceptives.

As our fertility rate already has reached the below-replacement level, population policy should veer away from reproductive health toward human resource development. I particularly take note of an editorial that appeared in the Philippine Daily Inquirer back in 2022 that commented on the ongoing demographic transition that is happening in our country: “To ensure the productivity of the younger generation in the future, the educational system must address the shortcomings of the public school system, as evidenced  by the poor showing of elementary school students in regional and global comparative tests. Government needs to invest more to ensure a quality learning environment that includes more and better equipped classrooms and facilities, better paid teachers, more available learning materials like books and lab facilities, and even basics as adequate lavatories and healthy canteen meals.” As many developed countries are suffering from very low fertility rates and the ageing “population bomb,” it is about time that we consider every baby born to a Filipino family as a singular resource on which to invest.

It is commendable that our industry leaders, strongly encouraged by President Ferdinand “Bongbong” Marcos, Jr., are focusing more on reskilling, upskilling, and retooling the existing work force to match their knowledge and skills with rapidly changing technologies in the agricultural, industrial, and service sectors rather than giving undue emphasis to college degree programs that often fail in producing the right manpower needed by employers. As the editorial quoted above commented: “To prepare young people to join the work force, they must be   oriented toward adjusting to the evolving demands of the job market, such as developing skills in new technologies.  Government must also ensure that there would be jobs for them, once they finish their formal education.”

Despite the serious problem of the low quality of basic education in our public schools (not in the private educational institutions), there are more than enough workers already in our labor force of some 50 million people who can be reskilled, upskilled, and retooled in the technologies related to the so-called Industrial Revolution 4.0 (artificial intelligence, internet of things, robotization, and data analytics). 

Instead of spending our scarce financial resources in preventing the birth of more babies (already at 1.9 per fertile woman), it is not too early to devote more attention to the plight of ageing Filipinos. As the same editorial suggested: “As for the elderly, the country must provide adequate material support for them apart from the pension given by the state-owned retirement bodies. Better and more affordable healthcare, especially the provision of maintenance medicines and medical procedures, is likewise necessary to prevent more serious and costly expenses down the line.” And most importantly for those who, like me, have been blessed with long lives (I am 85 years old), we should be encouraged to continue using our knowledge and skills in producing educational materials, training professionals in our respective fields (especially teachers), sitting in boards of directors, managing some NGOs, mentoring younger professionals, using our green thumb to add to food security by producing high-value crops in our home gardens, etc.

With some people in our government still harping on the need to spread the practice of family planning among Filipinos couples, it is heartening to read opinions in this publication supporting the view that a large population can be an asset to the economy. My fellow columnist in this paper, Bienvenido Oplas, Jr. wrote in one of his columns*: “The fastest growing economies in the world are Asian, led by India, China, the Philippines, and Indonesia with GDP growth of 5% to 7%  in H1 2023, whereas  Europeans were crawling at -0.2% to 1.2% over the same period.” He continued: “I think the main explanation for this is the dynamic domestic economies of these four Asian countries thanks to their big populations: 1.4 billion for China and India, and 275 million and 113 million for Indonesia and the Philippines, respectively.  The beauty of having a big population is it also means there is a big supply of entrepreneurs and workers, producers, and consumers. So, when the global business and economic environment deteriorates, there is a big and strong domestic market to continue the business momentum.”

I could not agree more with Mr. Oplas, who concluded his column with a clear rejection of the continuing obsession with family planning among some government officials by suggesting that “there is a need to relax the implementation of the Reproductive Health (RH) law of 2012 (RA 10354). State funding of population control is wrong.” What we need is a “Productive Human Resource Law”!

(To be continued.)

*Global trade deceleration and economic growth due to large population – https://tinyurl.com/27rbynrc

 

Bernardo M. Villegas has a Ph.D. in Economics from Harvard, is professor emeritus at the University of Asia and the Pacific, and a visiting professor at the IESE Business School in Barcelona, Spain. He was a member of the 1986 Constitutional Commission.

bernardo.villegas@uap.asia

Megawide names PwC-Isla Lipana as its new independent auditor

MEGAWIDE.COM.PH

SAAVEDRA-LED Megawide Construction Corp. has named Isla Lipana & Co., the Philippine partner of PricewaterhouseCoopers (PwC), its new independent auditor effective Dec. 1.

The company’s board of directors approved the engagement of PwC-Isla Lipana as the independent auditor during a special meeting on Nov. 25, Megawide said in a stock exchange disclosure on Tuesday.

PwC Isla Lipana is replacing Punongbayan & Araullo as the building company’s external auditor.

Megawide said that PwC-Isla Lipana’s appointment would be submitted for stockholders’ approval during a special meeting on Dec. 10.

“The inclusion of the above matter in the Dec. 10 special stockholders meeting will be subject to the approval by the Markets and Securities Regulation department of the Securities and Exchange Commission,” Megawide said.

In the first nine months, Megawide’s net income rose 69% to P562 million from a year earlier as revenue climbed 7.2% to P16.3 billion.

Operating profit grew 26% to P1.98 billion, while consolidated earnings before interest, taxes, depreciation and amortization rose 29% to P3.65 billion.

The construction segment accounted for P15.5 billion or 96% of consolidated revenues, amid increased economic activities and the government’s infrastructure buildup.

Megawide is a private partner for public infrastructure projects such as the public private partnership for school infrastructure project phases 1 and 2, the multiyear developments of Mactan-Cebu International Airport and the Parañaque Integrated Terminal Exchange, as well as the construction of Clark International Airport.

Megawide shares were last traded on Nov. 25 at P2.53 each. — Revin Mikhael D. Ochave

AUB looks to increase e-wallet market share

ASIA UNITED Bank Corp. (AUB) is planning to add new features to its e-wallet HelloMoney as it plans to grow its customer base and capture a larger share of the local market.

“To continue growing our e-wallet market share, we will embark on more innovations in the coming years such as offering microinsurance, digital savings solutions, in addition to further widening our global reach and acceptance network. We are also introducing more enhancements in user experience, and simplifying HelloMoney’s features,” AUB President Manuel A. Gomez said in a speech at HelloMoney’s relaunch on Tuesday.

HelloMoney’s customer base stood at six million as of end-September. The e-wallet was first offered in 2019.

In the coming years, the bank plans to offer microinsurance through partners in its e-wallet app, it said. It is also looking to introduce digital savings with features such as smart savings, goal-based saving, and automated savings options.

AUB plans to widen its reach by expanding its existing partnership with Alipay+ and offering “more competitive” cross-border rates. The bank in 2022 partnered with Alipay+ to enable cross-border mobile payments via its e-wallet, letting users transact using HelloMoney at Alipay+ merchants in Japan, South Korea, Malaysia, Hong Kong, and Singapore.

It likewise aims to further widen its acceptance network.

The bank will also simplify HelloMoney’s features to improve user experience, it added.

“We aim to make mobile banking easier and help more merchants grow their business globally by bringing HelloMoney closer to more users,” Mr. Gomez said.

AUB on Tuesday also announced its partnership with the Parañaque Integrated Terminal Exchange to digitize public transportation payments.

“We know we are still far off from the dominant e-wallet players in the local market, but we will relentlessly eye for bigger market share to reach more unbanked and underserved Filipinos. Beyond the numbers, we aim to build a reputation for our constant innovation, expanded global reach, and enhanced user experience, in line with our steadfast mission to make financial services truly accessible to every Filipino,” Mr. Gomez said.

AUB’s net income jumped by 71.44% to P3.35 billion in the third quarter amid higher revenues. This brought its nine-month performance to P8.78 billion, up by 40.97% from a year ago.

Shares in AUB rose by 50 centavos or 0.8% to end at P63 apiece on Tuesday. — A.M.C. Sy

Caravaggio portrait goes on public display for the first time in Rome

COMMONS.WIKIMEDIA.ORG

ROME — A portrait by baroque painter Caravaggio held in a private collection since it was discovered more than 60 years ago is being shown to the public for the first time in a museum in Rome.

Caravaggio, whose real name was Michelangelo Merisi, was a master of the chiaroscuro technique of lighting to make his subjects seem to come alive. He died in 1610 in his late thirties after a turbulent life.

His portrait of Monsignor Maffeo Barberini, who would go on to become 17th century Pope Urban VIII — a great patron of the arts who had sculptor and architect Gian Lorenzo Bernini among his proteges — was attributed to him in 1963.

“Since that moment it has never been seen in any museum, it has never been lent to an exhibition, so it’s the first time,” Thomas Clement Salomon, director of the National Galleries of Ancient Art, said on Friday.

It is one of just a handful of surviving Caravaggio portraits, since most have been lost or destroyed, and it goes on display from Nov. 23 until Feb. 23, 2025, the museum said.

“Only very few specialists since the 1960s have had the opportunity to see it in person, and it is one thing to know the painting from photographs, and another to see it in person and realize its quality, its almost magnetic power,” curator Paola Nicita said.

Barberini’s portrait is believed to have been painted at the turn of the 17th century and shows the future pope, who took office in 1623, seated and seemingly giving orders with his right hand.

The museum showing the artwork is housed in Palazzo Barberini, built during Urban VIII’s papacy by Bernini and fellow baroque architect Carlo Maderno, and which remained in family hands until after World War Two. — Reuters