ROLLS OF CLOTH being transferred to shops in Divisoria. For decades, the Manila district was arguably the center of the fashion trade because designers would source their fabric needs from the area. — BW FILE PHOTO
Runway show will try to prove that
WHILE Manila is the country’s capital city and serves as a metonym for the entire Philippines, a lot of the country’s activity is no longer centered there. While the presidential palace, Malacañang, still sits there, the country’s legislative bodies sit somewhere else. The arts and society perform and preen at nearby Pasay, and the country’s financial districts are in Makati, Taguig, and Ortigas (we can argue that Binondo serves as an informal one). Still, Manila has one card up its sleeve: Divisoria.
Rampa Manila 2, a fashion show that will be held on June 19 at the Bulwagang Antonio Villegas in Manila City Hall, will be a tribute to Divisoria, the colonial-era trading hub that still exists today. Thanks to its strategic location then and now near ports, roads, and trains, Divisoria is still a central market, where goods from manufacturers here and abroad land and are sold at almost-factory price.
One of the draws there are the textile markets, and in a way, the cloth trade in Divisoria makes it a fashion capital — at least in the eyes of Rampa Manila’s Creative Director, designer Bang Pineda. “Manila is the fashion capital, because of Divisoria,” he said in a press conference at Manila City Hall on April 11. He also said that this year’s theme would be “Texture, Textile and Technique.”
Rampa Manila 2 is a sequel to last year’s project, Rampa Manila, held last year near Manila Day (June 24). Participating designers last year included Puey Quiñones, Michael Leyva, Jo Rubio, Marlon Tuazon, and Albert Andrada. This year, the roster includes Anthony Ramirez, Neric Beltran, Marc Rancy, Val Taguba, Jhobes Estrella, and even new blood, namely: Dhenyze Guevara, Morissette Magalona, and Joanna Santos.
Mr. Pineda said, “Lahat kami started out as young designers, namimili ng tela sa Divisoria (we were all young designers who started out buying cloth in Divisoria).”
DIVISORIA’S PROBLEMS At the same event, Manila Mayor Honey Lacuna-Pangan discussed problems Divisoria is having, and how the city could improve it.
“It’s so sad. Before kasi talaga, puntahan ang Divisoria for any needs; any kind of textile. During the past few years, nag-dwindle talaga iyong desire to go to Divisoria to avail textiles,” she said. She said that a lot of designers these days would rather get them somewhere else or import them directly.
Ms. Lacuna-Pangan and Department of Tourism, Culture, and Arts of Manila (DTCAM) Director Charlie Dungo also discussed projects that would have revived Remedios Circle as the fashion district of Manila (as it had been in the 1970s to the ’80s), but rents in the area were simply too high for the project to be feasible.
“It’s also the local government of Manila’s way to help iyong ating stakeholders doing business here. We’re trying to invite designers and future designers to go back to where it all started,” she said about these districts. “Ang ating ultimate goal is pataasin ang antas ng industriya ng fashion, hindi lang sa Maynila,kundi sa buong Pilipinas (our ultimate goal is to improve the level of the fashion industry, not just in Manila but the whole Philippines).” — Joseph L. Garcia
NOW that the quid pro quo in India’s opaque electoral funding has been exposed, electronic voting machines are the next port of call for judicial scrutiny. And rightly so.
The national elections have been paperless since 2004. Yet, the voting devices remain deeply controversial. On April 16, Supreme Court judges will hear petitions demanding 100% matching of ballots recorded electronically with paper slips. Currently, these physical records are briefly shown to electors behind a glass screen; only a small sample gets counted.
The poll will start, in phases, on April 19. The last ballots will be cast June 1, at the peak of a brutal summer, and the results are expected June 4. The tight schedule doesn’t offer much scope for deeper reforms sought by citizens’ groups, such as placing a record of the vote in the hands of electors, who will then put them in a box. This, the Election Commission has argued, will take India back to paper voting, with all its attendant law-and-order problems.
Still, given the slide in recent years in India’s democratic credentials, it would be dangerous to brand calls for change as Luddite or reject them on grounds of technical expediency.
The stakes are high. A third term for Prime Minister Narendra Modi, the pollsters’ consensus outcome, could mean a further tilt toward his divisive politics. The majority Hindu voters are being bombarded with messages of religious polarization, with the prime minister dismissing the opposition Congress Party’s manifesto in public rallies as bearing the imprint of the Muslim League, the party that played a key role in the bloody partition of the subcontinent in 1947.
There are plenty of cheerleaders — both for Modi, and for India’s drift away from its secular, democratic constitution — especially in the country’s impoverished, overpopulated north, which has suddenly been filled with a newfound enmity toward minorities, particularly Muslims. But are almost 1 billion voters onboard with the idea of a Hindu nation or against it? There’s only one way to find out: a fair ballot that’s transparent to everyone voting and observing.
Will 2024 be a credible election? Western democracies, having flirted with technology, have mostly decided against surrendering the act of recording a citizen’s most profound political choice entirely to machines. In 2009, Germany’s constitutional court declared computer-aided voting unconstitutional for failing to meet standards of public scrutiny. Most votes in the US presidential elections are paper ballots marked by hand or machines. Even Estonia, considered a pioneer, still has substantial paper voting.
A vote has three legs: It must be cast as intended, recorded as it is cast, and counted as it is recorded. Before machines were introduced, every Indian election brought news of “booth capture.” People with guns would simply march in and hijack the vote. Since electronic voting machines don’t accept more than four ballots in a minute, parties no longer have an incentive to hire muscle.
Yet, the election equation still looks wobbly. There is considerable skepticism about whether people’s choices are being recorded fairly, and if they’re being counted right. Opposition parties are protesting. “The king’s soul is in the EVM,” Rahul Gandhi, the main opposition leader, said at a public rally in Mumbai last month, referring to Modi and the electronic voting machine.
Kannan Gopinathan, an electrical and electronics engineer, was involved in the 2014 general election as a civil servant and found no reason to doubt the integrity of the vote. The setup was nothing more than a calculator. An elector pressed a button on a ballot unit. A control unit recorded the selection. Neither part connected to any external device or network. They were joined by a simple cable.
The problem, as Gopinathan told me on a recent trip, crept in with the nationwide introduction of a third accessory in the 2019 election: voter verifiable paper audit trail. This additional unit sits between the ballot and the control units. It was introduced to assuage the voter’s concern about what happens after she presses the button. Now, the candidate and the party symbol are displayed — for a few seconds, behind a tinted glass — before the light goes out, the paper gets cut, and she goes home satisfied.
Trouble is, the appendage is much more than just a dumb display. Unseen by the voter, it also tells the controller unit what choice to record, something that should be done only by the ballot unit. And since these additional devices are programmed for each constituency before elections, they are no longer immune to potential outside influences. As computer scientist Madhav Deshpande asked in an article earlier this year: “What is the guarantee that the vote is unchanged after it is displayed?”
Gopinathan, who has since resigned from government service, has turned into one of the country’s most vocal critics of electronic voting. He emphasizes that he has no evidence that any of the machines have ever been manipulated. What worries him is that they can be — the setup is no longer that of a rudimentary calculator. Besides, nobody wants to tackle the knottier issue. If the paper audit is supposed to supersede the machine’s count, then “Where does my vote legally reside — in paper, or in bits and bytes?” he asks.
The sometimes cozy and often coercive relationship between capital and politics in the world’s largest democracy has already been laid bare in all its ugliness. With the Indian Supreme Court lifting the veil from anonymous electoral funding, quid-pro-quo deals and corporate donations to evade harassment are for all to see. The voting machine is the next obvious candidate for scrutiny.
And that’s just as well. It isn’t only the contestants but the voters themselves who may be at a permanent disadvantage. A poor person who wants a state-paid hospital bed or a reasonably priced train ticket gets one opportunity in five years to express her preference. But she gets the same chance as a tycoon who wants a lower corporate tax rate or a real-estate concession. A seemingly democratic election gives Modinomics a fig leaf of legitimacy for policies that have made India among the most unequal societies on earth.
If the credibility of elections comes under doubt, then the fig leaf drops. In that case, the average voter must be resigned to accept whatever deal is thrown up by the confluence of strongman politics, crony capitalism, and a machine that blesses both — in perpetuity.
THE Department of Agriculture (DA) said that it lifted the import ban on poultry from Belgium and France.
Separate memorandum orders issued by the agency said that poultry meat, day-old chicks, eggs and semen from the two countries are now allowed to enter the Philippines.
The DA said that based on Belgium’s self-declaration report to the World Organisation for Animal Health, all cases of Highly Pathogenic Avian Influenza (HPAI) or bird flu cases have been resolved and no further outbreaks were reported after Feb. 21.
France also reported that cases of HPAI have been resolved with no additional outbreaks after Feb. 29.
In January, the DA banned imports of live poultry and poultry products from Belgium and France after outbreaks in the two countries. — Adrian H. Halili
SAIC Motor Philippines President Felix Jiang speaks at the MG booth. — PHOTO BY DYLAN AFUANG
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SAIC Motor Philippines President Felix Jiang speaks at the MG booth. — PHOTO BY DYLAN AFUANG
PHOTO BY DYLAN AFUANG
Foton Motor Philippines, Inc. General Manager Levy Santos — PHOTO BY DYLAN AFUANG
PHOTO BY DYLAN AFUANG
Seres Motor Philippines Director Kevin Chan — PHOTO BY DYLAN AFUANG
PHOTO BY DYLAN AFUANG
PHOTO BY DYLAN AFUANG
PHOTO BY DYLAN AFUANG
This year’s edition was a battleground for new and established players from our neighbor in the north
#mias2024smx
By Dylan Afuang
AT THE SECOND venue of the 2024 Manila International Auto Show (MIAS), Chinese auto brands further emphasized their serious battle with established firms — most of which come from America, South Korea, and Japan — for market share in the Philippines.
Twenty-one car makers, out of the 29 that participated in the country’s annual motor show, originate from China.
The 19th MIAS was simultaneously held at two venues last April 4 to 7 — one in the show’s traditional venue, World Trade Center, and the other at the SMX Convention Center — both located in Pasay City. A few of the upstarts staged product unveilings at SMX.
Auto marques Hongqi, Hycan, Omoda and Jaecoo, and Seres are a handful of Asian brands that signaled their local arrival at MIAS. They will be competing for market approval against the likes of Foton and MG.
These firms showed what they can offer the local market.
Hycan Philippines boast “competitively priced and premium-quality” vehicles, company Vice-President and Managing Director Bryan Keith Chua told “Velocity.”
Hycan, an EV joint venture brand of the GAC Group and Nio, was established in 2019 and arrived in the country this year. At MIAS, the brand unveiled its Z03 crossover, A06 Plus fastback, and V09 van. These are priced at P1.688 million, P1.788 million, and P3.788 million, respectively.
Seres Motor Philippines boasts “cars that not only move you physically, but also… move the industry toward a more sustainable and intelligent mobility lifestyle,” company Director Kevin Chan stated in his speech at MIAS.
Seres eyes to arrive here within the year, and it produces vehicles with battery electric, hybrid-electric, and electric power with a gas engine that extends range. These come in the form of the brand’s 5, 7, and E5 models, which were showcased.
Sibling brands Omoda and Jaecoo are now here. “Our cars are produced (in compliance) with serious global standards in durability and safety,” affirmed Omoda and Jaecoo General Manager for Eastern Europe and Asia Pacific Jeff Li.
The executive added that with the brands’ five research and development centers worldwide, its products are tailored for the markets in which they are sold. The Omoda 5 and E5 electric SUV, and Jaecoo J7 and J8 luxury SUVs, signify Omoda and Jaecoo Philippines’ establishment.
Local Hongqi distributor EvoXTerra, through President Rashid Delgado, revealed at MIAS new “customer experience initiatives to all and existing Hongqi owners,” such as free maintenance and 24/7 roadside assistance, and the P1.98-million HS3 crossover, the brand’s entry model.
Hongqi was established in its home market in 1958, and last year, the marque arrived locally with EV and ICE models. It opened its first showroom in BGC, Taguig City, and recently, a Manila Bay outlet, the executive added.
Foton and MG, considered to be mainstream Chinese brands here, look not to be outdone.
Foton Motor Philippines, Inc. (FMPI) General Manager Levy Santos unveiled “Foton’s new products that are diverse and meet the mobility needs of Filipinos, from full electric vans, trucks, and hybrid pickup trucks.”
FMPI officially launched the Tunland V7 and V9 pickups powered by mild hybrid diesel, and the Thunder and Transvan HR Cargo boasting battery electric power. Mr. Santos also proudly expressed that the brand’s trucks are “gawa ng Pilipino, para sa Pilipino (made by Filipinos for Filipinos)!”
Distributed by SAIC Motor Philippines, MG occupied the largest stage at SMX as it presented its “diverse roster of cars suited for every kind of Filipino motorist,” as company President Felix Jiang underscored.
MG launched the P1.838-million ZS EV crossover, the P2-million MG4 XPower performance hatchback, and previewed its Mifa 9 electric van. Leading MG’s EV range is the Cyberster sports car, for which order books have been opened.
SAIC Motor also displayed its MG 3 hybrid hatchback, and the gas-powered G50 MPV, 7 sedan, and RX9 SUV.
The company introduced IM Motors, a new premium electric marque under MG’s umbrella. The LS7 crossover represents what it can offer in the premium segment, such as a 42-inch widescreen across the dashboard, high-beam LIDAR for autonomous driving, and zero-gravity seats.
LISTED property developer Cebu Landmasters, Inc. (CLI) is banking on lower interest rates to boost earnings and support its capital-raising efforts this year, according to an official.
“The rate cuts that we are anticipating will help not only in our ability to raise capital, but it should improve our margins too,” Cebu Landmasters Chief Finance Officer Beauregard Grant L. Cheng said told an online news briefing last week.
“Lower interest rates can help spur more demand and more buyers who want to be homeowners,” he said.
Last week, the Philippine central bank kept its key rate at 6.5% for a fourth consecutive meeting after inflation quickened to 3.7% in March from 3.4% in February.
Mr. Cheng said one of the risks being monitored by the company is inflation, which could affect the prices of construction materials.
“If the prices of commodities and raw materials go up as the prices of fuel go up, that’s always a risk for us,” he said. “Delivery and shipping costs are always a big part of our input costs, whether it is for cement or any other construction material.”
Mr. Cheng said Cebu Landmasters posted high reservation sales in the first quarter and is expected to exceed the company’s P20.6 billion worth of reservation sales last year.
“We’re anticipating that in 2024, when all is said and done, we should be able to exceed the reservation sales that we had from last year,” he added.
In 2023, Cebu Landmasters’ net income rose by 29% to P4.64 billion last year as consolidated revenue increased by 20% to P18.8 billion.
Its shares were last traded on April 12 at P2.93 each. — Revin Mikhael D. Ochave
RATES of Treasury bills (T-bills) and Treasury bonds (T-bonds) on offer this week are expected to rise amid expectations of higher for longer yields at home and in the United States (US) due to elevated inflation.
The Bureau of the Treasury (BTr) on Monday will auction off P15 billion in T-bills, or P5 billion each in 91-, 182-, and 364-day papers.
On Tuesday, it will offer P30 billion in reissued 20-year T-bonds with a remaining life of 14 years and nine months.
T-bill and T-bond rates may climb to track the rise in secondary market yields last week, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.
Secondary market rates climbed due to expectations of delayed rate cuts by both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) amid sticky inflation, the first trader said in an e-mail.
A second trader said T-bill rates may go up by 10-20 basis points (bps), while the reissued 20-year bonds may fetch yields of 6.57% to 7%.
Meanwhile, a third trader said the bonds on offer this week could fetch rates of 6.7% to 6.9%.
At the secondary market on Friday, the 91-, 182-, and 364-day T-bills went up by 2 bps, 0.27 bp and 4.57 bps week on week to end at 5.7727%, 5.8969%, and 6.0514%, respectively, based on PHP Bloomberg Valuation Service Reference Rates data published on the Philippine Dealing System’s website.
The 20-year bond likewise climbed by 52.49 bps week on week to close at 6.8021%.
Inflation is proving to be a stickier problem than US central bank officials had anticipated it would be just a couple of months ago, while other measures of the economy show little signs of slowing down. That combination has pushed the anticipated start of an easing cycle further down the road, Reuters reported.
US consumer price index (CPI) data came in stronger than expected in March, prompting a broad resetting of expectations for when the Fed will be able to cut rates this year. Financial markets are now pricing in a July or September start to Fed rate cuts, versus an earlier view of June.
The CPI rose 0.4% last month after advancing by the same margin in February, the Labor department’s Bureau of Labor Statistics said.
In the 12 months through March, the CPI increased 3.5%, the most since September. The CPI was also boosted by last year’s low reading dropping out of the calculation. It rose 3.2% in February. Economists polled by Reuters had forecast the CPI gaining 0.3% on the month and advancing 3.4% year on year.
Meanwhile, BSP Governor Eli M. Remolona, Jr. last week said they could begin their policy easing cycle later than initially expected as they have become “more hawkish than before” due to persistent upside risks to inflation stemming from higher food and transport costs.
He said they could cut rates by 25 bps in the third quarter if inflation is within target and economic growth is weak.
However, policy easing could start as late as the first quarter of 2025 if inflation risks persist, he said.
The Monetary Board kept the target reverse repurchase rate unchanged at a near 17-year high of 6.5% at its meeting on Monday, as expected by all 16 analysts in a BusinessWorld poll. Rates on the overnight deposit and lending facilities were likewise kept at 6% and 7%, respectively.
The central bank hiked borrowing costs by 450 bps from May 2022 to October 2023 to help bring down elevated inflation.
Philippine headline inflation picked up to 3.7% year on year in March from 3.4% in February. This was slower than the 7.6% clip in the same month last year.
Still, this was within the BSP’s 3.4-4.2% forecast for the month and was slightly below the 3.8% median in a BusinessWorld poll. This also marked the fourth straight month that the CPI was within the central bank’s 2-4% target.
For the first quarter, headline inflation averaged 3.3%, below the BSP’s baseline forecast of 3.8% and risk-adjusted forecast of 4%.
Last week, the BTr raised P15 billion as planned from its T-bill offer as total bids reached P39.939 billion, or more than twice the amount on the auction block.
Broken down, the Treasury borrowed P5 billion as programmed from the 91-day T-bills as tenders for the tenor reached P10.333 billion. The three-month paper was quoted at an average rate of 5.772%, 6.8 bps higher from the previous week. Accepted rates ranged from 5.698% to 5.8%.
The government likewise made a full P5-billion award of the 182-day securities, with bids reaching P15.036 billion. The average rate for the six-month T-bill stood at 5.885%, up by 2 bps from the prior week, with accepted rates at 5.823 to 5.919%.
Lastly, the Treasury also raised P5 billion as planned via the 364-day debt papers as demand for the tenor totaled P14.57 billion. The average rate of the one-year T-bill climbed by 1.8 bps to 5.983%. Accepted yields were from 5.95% to 6.025%.
Meanwhile, the reissued 20-year bonds to be auctioned off on Tuesday were last offered onNov. 22, 2023, where the government made a full P20-billion award of the papers at an average rate of 6.593%, 15.7 bps below the 6.75% coupon for the series.
The Treasury plans to raise P195 billion from the domestic market this month or P75 billion from T-bills and P120 billion via T-bonds.
The government borrows from local and foreign sources to help fund its P1.48-trillion budget deficit, which is capped at 5.6% of gross domestic product for this year. — BMDC with Reuters
HUNTER DOUGLAS, the high-end window coverings company that was founded in the US in 1946* opened its new showroom — called the Hunter Douglas Design Centre — in the Philippines, at Focus Global, Inc.’s headquarters at Twenty Four-Seven Mckinley Building in Bonifacio Global City, Taguig.
The new showroom has interactive displays on how its products work. These were on show during the showroom’s launch on April 4. One of these is the PowerView Automation booth, that shows how blinds and other Hunter Douglas products can be controlled through apps (a swipe on a screen opens and closes a simulated skylight above the visitor), while another booth shows the capabilities of the Hunter Douglas Duette line to cast a room in total darkness. Other features of the new showroom let customers view their samples against different light settings to see how much light they can block.
Focus Global’s president, Stephen Sy, in an interview with BusinessWorld, discussed how important window treatments are in light of the fact that in furnishing a home, they are usually last on the list. “You want to have some privacy. If it’s your bedroom, you don’t want the sunlight to wake you up. You’re not going to wake up at 5:30 or 6 in the morning. If the sunlight shines in, you would be awakened,” he said.
The window treatments sell well — even though some of the items we saw cost upwards of P70,000 — and Mr. Sy credits this to a building boom in the Philippines. According to the Philippine Statistics Authority, approved building permits for new constructions came to 11,433 in Jan. 2024. “There’s a lot of construction; condominiums being built,” he said. “We are educating the local consumer and the developers.”
As an example, he told us about SieMatic, a German kitchen cabinets brand they also distribute. Focus Global had found out that an established local developer was using local brands for their units, but after successfully pitching SieMatic to a smaller local developer, the established one saw the quality of the SieMatic cabinets and, not to be outdone, decided to get the same brand.
Noting how often showrooms at Focus Global’s headquarters are changed — invitations come by around once every quarter — Mr. Sy said, “We have to keep it updated. Mahirap na (it would be difficult if we don’t). It will look kind of old, and boring… It’s really necessary, as far as we’re concerned… we need to make it look fresh and new again.”
Mr. Sy’s company started out by distributing the Coleman outdoor-lifestyle brand in the Philippines in the late 1980s, expanding later to kitchen appliances. While they now distribute various high-end furnishing brands in the Philippines (Fendi furniture is one), he said that they began by first distributing Ethan Allen here, and this was because the Sy family couldn’t find furniture here that they liked for their home. They flew to Houston, Texas to shop for furniture and came upon an Ethan Allen sale in the papers. Aside from buying furniture for themselves that week, Mr. Sy also called up their export manager and scored a meeting with the brand’s executives.
“We really choose. We will not just go in and take in any brand,” he said. “If we think this is a good brand… good quality and good name, then we start thinking.” — JosephL. Garcia
* Though it had an earlier start as a machine tool manufacturing company in Germany founded in 1919.
WASHINGTON — President Joe Biden’s administration is offering farmers money for adopting practices that store carbon in the soil to fight climate change, but Reuters interviews with soil science experts and a review of US Department of Agriculture (USDA) research indicate doubt that the approach will be effective.
Farm practices like planting cover crops and reducing farmland tilling are key to the USDA’s plan for slashing agriculture’s 10% contribution to US greenhouse gas emissions as the US pursues net-zero by 2050.
Ethanol producers also hope those practices will help them secure lucrative tax credits for sustainable aviation fuel (SAF) passed in the Inflation Reduction Act (IRA).
But the farming techniques, which will receive an extra funding boost from Mr. Biden’s signature climate law, may not permanently sequester much atmospheric carbon in the soil, according to five soil scientists and researchers who spoke to Reuters about the current science.
Four other soil scientists, and the USDA, said the practices can store various amounts of soil carbon, but circumstances will dictate how much and for how long.
The White House referred Reuters to the USDA for comment. A USDA spokesperson said “the adoption and persistent use of no-till and cover crops are key for the sequestration of carbon on working croplands.”
All the experts interviewed by Reuters agreed that no-till and cover crops can have significant environmental benefits such as preventing soil erosion and increasing biodiversity. Yet five of them expressed skepticism about tying climate policy and public money to the practices.
“Will it help with climate adaptation? Absolutely. Should it serve as an offset for more permanent and long-lived pollutants? Absolutely not,” said Daniel Rath, an agricultural soil carbon scientist at the Natural Resources Defense Council.
The USDA has spent $1.3 billion in financial assistance to farmers for planting and managing cover crops and $224 million for implementing no-or reduced-till since 2014, according to agency data.
That figure is miniscule compared to total USDA spending, but does amount to about 8% of its farm conservation spending in that period.
“If we really want to offset or mitigate climate change, we need to think about different systems,” said Humberto Blanco, an agronomy professor at the University of Nebraska-Lincoln. “We need to think about more aggressive strategies.”
Adoption of cover crops and no-till has risen in the past decade; now, 11% of farms plant cover crops and about 40% use minimal or no tilling, according to the most recent USDA agricultural census.
Under the right conditions, planting cover crops and reducing tilling can be positive for the climate, scientists told Reuters. “If a farmer is using cover crops and getting good growth in the fall and spring, and they’re doing minimal tillage, on most soils, they’re going to add soil carbon over time,” said Robert Myers, a professor at the University of Missouri and regional director of extension programs at a USDA research site.
A USDA spokesperson said the benefits largely depend on factors like growing climate, soil type, crop rotation, and other factors.
Five other experts told Reuters that no-till farming commonly results in a higher concentration of carbon in the soil surface but a decrease deeper in the soil profile, resulting in a net zero gain.
Seven experts said the climate benefits of no-till and cover crop techniques can be lessened or reversed if farmers plow their fields again.
“Even if you do build up some extra carbon under reduced tillage, if you then do a traditional plowing, the evidence seems to be that you quite quickly lose the carbon that you’ve been building up,” said David Powlson, senior fellow at Rothamsted Research, an agricultural research institution.
Only 21% of farmers report using no-till continuously, according to the 2022 farm census, and about a third alternate reduced tilling with conventional tilling, showed a 2018 USDA report.
A USDA standards document for no-till says loss of carbon in the soil is directly tied to the amount and intensity of the tilling, and other factors like soil moisture and temperature.
As for the SAF tax credit, the Treasury department is expected to finalize details in coming weeks. The $1.25 per gallon credit is aimed at producers who prove their fuel can cut emissions 50% from those of straight jet fuel.
The program will likely require ethanol producers to source corn from farmers using cover crops, reduced tilling, or efficient fertilizer application, sources told Reuters.
The USDA declined to comment on what the fertilizer application would entail. The ethanol industry hopes to account for a significant portion of the 35 billion gallons of SAF the Biden administration has pledged to produce by 2050.
The IRA includes some $19.5 billion for farm climate programs over 10 years, and in 2023, about $52.5 million of that money went to cover crops and no-till. — Reuters
The heat is still on as the Philippines rides through the summer months. Over the years, peak summer temperatures in the country have ranged between 36°C and 42°C. This year, with the ongoing El Niño, the national weather service, PAGASA, forecasts maximum temperatures to breach the 40°C mark.
Recently, the El Niño Task Force urged local governments and school heads to consider suspending classes in cases of extreme heat for the health and physical wellbeing of students.
Heat exhaustion is the body’s response to an excessive loss of water and salt, usually through excessive sweating, said the US Centers for Disease Control and Prevention (CDC). It is most likely to affect the elderly, people with high blood pressure, and those working in a hot environment such as traffic enforcers and street sweepers. Symptoms of heat exhaustion include headache, nausea, dizziness, weakness, irritability, thirst, heavy sweating, elevated body temperature, and decreased urine output.
Heat cramps usually affect workers who sweat a lot during strenuous activity. Excessive sweating depletes the body’s salt and moisture levels. Low salt levels in muscles cause painful cramps. Heat cramps may also be a symptom of heat exhaustion. Symptoms include muscle cramps, pain, or spasms in the abdomen, arms, or legs, the CDC explains.
Prolonged exposure to extreme summer temperatures can result in heat stroke, the most severe type of heat-related illness. Heat stroke is a medical condition in which the body temperature rises quickly to 40°C or higher, and the sweating mechanism designed to cool down the body fails. It is considered a medical emergency and, if left untreated, can damage the brain, heart, kidneys and muscles. The damage worsens the longer treatment is delayed, increasing the risk of serious complications or death, warns the Department of Health (DoH).
Vigorous exercise in hot and humid weather, dehydration, and excessive exposure to the sun can increase a person’s risk of heat stroke. Infants and children up to age four and adults over age 65 who adjust to heat more slowly, as well as individuals with co-morbidities such as fever, hypertension, diabetes mellitus, kidney disease, mental illness, and alcoholism are at higher risk of heat stroke.
Common signs and symptoms of heat stroke include dizziness; vomiting; headache; warm, flushed skin; confusion, altered mental status, slurred speech; very high body temperature of 40°C or more; rapid heartbeat and breathing; convulsions; and loss of consciousness (coma).
Taking quick action to cool down people affected by heat-related illnesses is absolutely vital. Move the person to a shaded, cool area. Lay the person down with their feet elevated. Cool the person quickly by removing their outer clothing, giving them a sip of cold water (if they are able), applying cool water to the skin, and fanning them. If possible, place cold wet pieces of cloth or icepacks on the person’s head, neck, armpits, and groin; or soak the person’s clothing with cool water. After performing first aid, bring the person to the nearest hospital immediately.
A DoH website offers the following tips to help prevent heat stroke. Limit the amount of time spent outdoors. Drink plenty of water throughout the day. Wear lightweight, light-colored, and loose-fitting clothes. Avoid drinks with caffeine (e.g., coffee and tea) and alcoholic beverages; these are diuretics that may lead to excess fluid loss through urination and sweating.
Schedule outdoor activities during cooler times of the day, if possible, such as early in the morning or late in the afternoon. Mist yourself with a spray bottle filled with cool water when you feel overheated. Take frequent breaks from the heat when outdoors. Wear a wide-brimmed hat. Apply sunscreen with an SPF of at least 15. Avoid staying inside a vehicle when it is hot outside.
The Mayo Clinic gives the following tips for optimum hydration, which is particularly important during summer. Throughout the day, drink water to maintain a healthy balance; don’t wait until you are thirsty. Infuse water with slices of fruit, vegetables, or herbs for a refreshing and tasty boost.
For quick hydration, especially if you feel dehydrated after strenuous physical activity or a vigorous workout, the Mayo Clinic recommends electrolyte-infused water. Other delicious as well as hydrating fruits and vegetables are cucumbers, celery, tomatoes, strawberries, grapefruit, peppers, cauliflower, spinach, radishes, and broccoli.
Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines (PHAP). PHAP represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.
The Manila International Auto Show (MIAS) has traditionally been a showcase not just for brands’ current lineups but, more importantly, a springboard for new models to publicly debut in the sheet metal.
While this year’s staging was no different, more importantly, perhaps for the first time, there were so many marques that debuted on the MIAS stage — unveiling their offerings and their brands’ value propositions in one fell swoop.
Out of the many nameplates revealed at the World Trade Center, we think these nine choices from car brands (arranged in alphabetical order) proved to be significant. Here’s why.
BAIC B80 Wagon: Build it and they will compare
PHOTO BY KAP MACEDA AGUILA
BAIC, now administered by the United Asia Automotive Group, Inc. (UAAGI), was re-acquainted to the buying public via a mighty five-model launch at the MIAS. If you remember BAIC for its past vehicles which were, to be honest, a little aesthetically challenged or an acquired taste, you definitely will be pleasantly surprised that such is not the case anymore.
Obviously, the centerpiece of its stint at the auto show was the BAIC B80 Wagon. Priced at a rather lofty P4.398 million, the model is clearly (too clearly, some may contend) inspired by the iconic Mercedes-Benz G-Wagen.
Armed with a robust 3.0-liter twin-turbo gas engine good for 280hp and 420Nm, the B80 Wagon gets a ZF transmission and electronic four-wheel-drive system, so it isn’t all about looks. “Fear is not part of the B80 Wagon’s vocabulary,” maintained BAIC Philippines in a release. For good measure, the off-roader benefits from a 39-degree approach angle, 25-degree ramp breakover angle, and 33-degree departure angle.
Inside, it flexes Teutonic levels of luxury with Nappa leather and a “powerful sound system with built-in subwoofer.” Interestingly, aside from the fact that BAIC in China helps assemble, yes, the Mercedes-Benz G-Wagen, BAIC also says that the model reflects a rich history of producing “military-grade vehicles” for the state.
Indeed, check out the build quality of the B80 Wagon. You will not be disappointed.
Changan CS15: Price-fighting crossover
PHOTO BY KAP MACEDA AGUILA
The sub-P1 million price point used to be a battleground among brands seeking the most action. While that psychic barrier may remain for a segment of the population, inflation and foreign exchange movements have veritably moved this threshold upward. Well, Changan Auto Philippines, under the aegis of Inchcape, seems to thinks otherwise.
At MIAS, the company unveiled a crossover that is, frankly speaking, so surprising in its pricing that I did a doubletake. The Changan CS15 subcompact SUV has a tag of, drum roll, P799,000. That’s just crazy low, yes. And Changan’s Jun Cajayon maintained in a statement that, “For a subcompact SUV packed with impressive features found in premium vehicles, the CS15 is difficult to resist at its price.”
And while I have yet to get behind the wheel, I tend to agree with this proposition after I pored over the spec sheet.
The CS15 boasts a 1.5-liter mill with a five-speed dual-clutch, with the output pegged at 105hp and 145Nm. Buyers will get keyless entry, leather seats, and an iOS- and Android-compatible infotainment system, along with a range of niceties such as multi-function steering remote controls, automatic headlights, a sunroof, tire-pressure monitoring system, and even hill hold control. Add a five-year/150,000-km warranty and, well, you get what I mean.
GAC Emkoo Hybrid: Pioneering a brand’s entry to greener transport
PHOTO BY KAP MACEDA AGUILA
GAC is steadily earning its place (and reputation) in the market for proffering affordable alternatives to more established brands’ offerings. It’s cutting the competition’s legs from under them, owing to realistic pricing with unrealistically generous feature sets.
Another Astara-administered Chinese marque, GAC thoroughly embraces its “challenger brand” reputation. It continues to grow its breadth of choices by offering, for the first time, a hybrid vehicle.
The Emkoo Hybrid is a compact SUV that “keeps the Emkoo’s future-forward design, characterized by its head-turning front fascia and sharp body angles,” while ushering in a “state-of-the-art hybrid engine,” said to promise “both eco-friendly driving and impressive power on the road.”
The motivator is a 2.0-liter ATK engine, mated with a two-speed hybrid transmission. The engine submits 140hp and 180Nm, while the electric motor supplements with a further 134kW and 300Nm. All told, users are supposed to expect up to 22.1 kilometers per liter. Of course, GAC Motor Philippines stressed that the GAC Emkoo Hybrid will be exempt from the metro’s Unified Vehicular Volume Reduction Program (UVVRP).
I expect this hybrid to be just the first of many for GAC here.
Hyundai Elantra N: The return of the (non-electric) sedan
PHOTO BY KAP MACEDA AGUILA
The efforts of Hyundai Motor Philippines (HMPH) have truly gone a long way to revive the brand in the Philippines. Through a slew of new releases, aggressive marketing campaigns, plus sales and after-sales offerings, the South Korean marque has undergone a true Renaissance. According to the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), which HMPH also sought and secured membership in, Hyundai moved 1,662 units in the first months of this year — up 40% versus the same period last year.
Aside from updating its portfolio, which included the introduction of electric vehicles, HMPH steps on throttle by bringing in two models — the Elantra N and the 2024 World Performance Car of the Year: Ioniq 5 N — in its vaunted N performance range. “Through (these), HMPH is able to strengthen competitiveness and offer a differentiated customer experience,” the company said in a release.
While the Ioniq 5 N, on account of the aforementioned global recognition, may seem like the obvious choice in terms of importance, I think the Elantra N might just be the more significant offering.
This officially marks the return of the sedan into the “rightsized” stable of HMPH, which had previously nixed the likes of the Reina and, yes, the Elantra. Well, the Elantra is back — albeit in N form. Selling for P2.738 million, this is powered by a turbocharged 2.0-liter engine mated with an eight-speed dual clutch transmission — taking it from standstill to 100kph in 5.3 seconds with the help of launch control.
We’ll see whether this Elantra release will open the floodgates for more (non-electric) Hyundai sedans.
JAC JS8 Pro: Per capita bang for the buck
PHOTO BY KAP MACEDA AGUILA
Another Astara-managed brand enters the fray by unveiling three SUVs, two pickups, and an electric vehicle at the MIAS. Of these, I chose the JS8 Pro simply because I see it as a viable option for those in the market for a capable (and relatively affordable) quality SUV/MPV.
After all, this segment has traditionally been dominated by Japanese marques, and it will take a compelling alternative to lead people away from the usual. The JS8 Pro is something shiny and striking — boasting a “star waterfall armor” front grille, threading rear lights, illuminated scuff plates, split headlamps with “deep space radium lighting,” and 19-inch five-rim sport wheels.
Inside is a 360-degree skylight panoramic sunroof, a 12.3-inch floating screen, a full LCD instrument panel of the same size, multiple charging outlets and charging ports, and an array of storage options. Powering the vehicle is a turbocharged 1.5-liter engine. Drivers get to enjoy an electric power steering system. The JAC JS8 Pro is expected to be priced at P1.35 million, intimated a source to “Velocity.”
Meanwhile, JAC Motors Philippines Brand Head Tonette Lee maintained, “JAC prioritizes the customers’ changing needs, reflecting their commitment to a user-centric approach.” The JAC lineup of vehicles, she continued, is for buyers prioritizing value — a fit for the brand’s “focus on providing quality, essential features, and an enhanced driving experience.”
JAC vehicles will go on sale in August.
Jetour T2: Defender-esque design and cutting-edge tech
PHOTO BY KAP MACEDA AGUILA
In March last year, Chinese crossover specialist Jetour formally entered the Philippines — making a splash in the market via interestingly designed SUVs, crossovers, and a cute electric vehicle (the Ice Cream). Owned by the giant Chery Holdings headquartered in Wuhu, China, Jetour now fortifies its local lineup with the addition of a capacious and capable off-roader, the T2.
The T2 calls to mind the Land Rover Defender — adopting its squared proportions, short overhangs, and gait. Jetour is also highlighting the abilities and tech complements of vehicle priced at P2.498 million for the Beyond (base model) and P2.598 million for the T2 Terrain, which gets “kits and fittings for more adventurous owners.”
Jetour Auto Philippines, Inc. brass refers to the T2 as “a beast,” powered by a turbocharged 2.0-liter Kunpeng TGDI engine mated with a Magna 7DCT third-generation wet dual-clutch transmission with intelligent execution system. It has on tap up to 251hp and 390Nm. Managing the four-wheel-drive system of the vehicle is a Smart XWD Intelligent 4WD.
Beyond the looks of the T2, its very real performance potential surely makes it worth more than a fraction of the Defender.
JMC Grand Avenue: Picking a fight in the pickup segment
PHOTO BY KAP MACEDA AGUILA
Astara Philippines continues to expand its first foothold in the ASEAN market by growing its number of brands. One of these is Jiangling Motors Corporation Limited (or JMC), a Nanchang, Jiangxi, China-headquartered maker of commercial vehicles first established in 1993.
While another distributor here owns the rights to distribute its medium-to-heavy commercial vehicles, Astara (for now) is selling pickups of JMC: the Grand Avenue and the Vigus.
The Grand Avenue is its flagship pickup model, which JMC Philippines says is the “largest offering in its segment, boasting an impressive array of features.” JMC Brand Head Arlan Reyes said that the Grand Avenue “sets a new benchmark in the pickup segment with its bold design, unmatched comfort, and powerful engine.” It is powered by a 2.3-liter turbodiesel mill developing 170ps and 450Nm.
Mr. Reyes does not shirk from mentioning that JMC has joint-venture arrangements with Ford and Isuzu, and that the Grand Avenue even highlights styling cues that “are similar with the Ford Everest and Ranger.” He underscored to “Velocity,” “I think people should take a look at the JMC pickup. They should feel it: The quality, ride comfort, amenities, and pricing. It’s really a take-home winner.”
The JMC Grand Avenue (with four trims) is priced from P1.221 million to P1.569 million.
Lynk & Co 05: Redefining a new mid-level premium market
PHOTO BY KAP MACEDA AGUILA
Lynk & Co enters the Philippine market with a trio of elegantly styled models that should buttress its positioning as a new premium (or mid to premium, to be more precise). Tucked under the wing of UAAGI here, the Chinese/Swedish brand (by way of Geely and Volvo) Lynk & Co Philippines previewed two models (the 01 and the 06) to partners and the media ahead of the MIAS. Little did we know that the distributor had an ace up its sleeve.
That is the 05 SUV, an attractive fastback that looks like it’s meant to wage war with models further up the pricing totem pole. Powered by a turbocharged 2.0-liter engine, the 05 has 254ps and 350Nm on tap, transmitting the output to all four wheels. Priced at P2.748 million, this is not meant for the entry-level browsers but, asserted Lynk & Co, “those who value refined power and luxury.”
It will be interesting to see how the Lynk & Co tale will play out in the country. Judging from the attention it got at the MIAS, this challenger brand is off to a great start. Do traditional European marques have cause for worry?
Subaru Crosstrek GT Edition: Distinctly flavored for the Asian palette
PHOTO BY KAP MACEDA AGUILA
Tan Chong International Limited Deputy Chairman and Managing Director Glenn Tan himself was in town to oversee the setting up of Subaru’s MIAS display, which saw the Philippine debut of the Subaru Outback 2.4 XT Touring EyeSight and Subaru Crosstrek GT Edition.
The latter model features GT kitting that imbues it with a more rugged, muscular profile, along with “top-notch core technologies” (such as a Boxer engine and symmetrical all-wheel drive). The aforementioned kitting is comprised of front, rear, and side under spoilers; and a roof spoiler. Inside, GT-embossed leather seats set off a two-tone cabin highlighted by contrast stitching, perforation, and exclusive branding. The Crosstrek GT Edition is fitted with model-specific 18-inch alloy wheels.
Overall, the GT surely embodies the desire of many Asian (and, certainly, Filipino) car buyers to have more distinct vehicles — not to mention ones that provide more in the way of looks and accoutrements.
SHARES of DigiPlus Interactive Corp. fell last week despite news of its global expansion plans, dragged by negative market sentiment and US inflation data, analysts said.
The listed digital gambling company had the seventh-biggest value turnover at P629.43 million worth of shares on April 8 to 12, according to data from the Philippine Stock Exchange (PSE).
Financial markets were closed on April 9 and 10, both national holidays.
DigiPlus shares closed at P11.44 each on Friday, 15% lower than a week earlier. The stock has risen by 43% this year.
The company was affected by general market sentiment amid higher-than-expected local and US inflation numbers, Aniceto K. Pangan, a trader at Diversified Securities, Inc., said in a Viber message.
Its share price increased to as high as P14.16 after good earnings results last month, he said, adding that investors saw this as an opportunity to take on profits.
The overall market sentiment for Digi-Plus remained bullish despite short-term profit taking, Jeff Radley C. See, head trader at Mercantile Securities Corp., said in an e-mail. “Prospects are good since the company will target overseas [markets], which will boost their top line.”
Its share price rose last month due to favorable sentiment about its performance, Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc., said in a Viber message. Adding to the optimism was the company’s plan to expand globally, he added.
“This multipronged approach underscores DigiPlus’ commitment to bolster both its offline and online presence,” he said.
DigiPlus is considering expanding to markets overseas with a large Filipino population and in the provinces. It also aims to boost its presence in the gaming market by using new technologies.
The company might also include nongaming elements such as movies and a live sports streaming channel to its digital platforms.
Mr. Arce said this announcement could boost its stock price. “Market players may view this as a strategic move to tap into new markets and diversify revenue streams, which could be perceived as favorable for the company’s long-term growth potential.”
But the international expansion comes with risks, he added.
DigiPlus Interactive Corp. should take into account the culture, regulatory requirements, and competition in its target markets, Mr. Arce said.
Setting up physical locations in provincial markets might also require significant investment and operational resources, he added.
DigiPlus income grew almost four times to P2 billion in the fourth quarter from a year earlier, while revenue more than tripled to P11.3 billion.
“Given its strong performance in the fourth quarter, it should sustain its growth track record going into the first quarter,” Mr. Pangan said. “It should continue to sustain its three-digit percentage income growth this year.”
He placed immediate support at P11 and immediate resistance at P12.36.
Mr. See expects the stock to move sideways. “Investors will continue to see profit taking due to its run from P8 to as high as P14.16… Support levels will be at P11 and P10.28.”
Mr. Arce expects the company’s income to hit P5.36 billion this year. “Targeting areas with large Filipino populations and expanding into provincial markets can open up untapped revenue streams and broaden the company’s customer base.”
He placed the stock’s support level at P11 and resistance at P12.50 to P14.
