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Robinsons Hotels expects up to 70% occupancy rate for Go Hotels Plus Mandaluyong

ROBINSONS HOTELS and Resorts (RHR) said it expects a 60%-70% occupancy rate for Go Hotels Plus Mandaluyong’s pilot year following its refurbishment.

Go Hotels Mandaluyong, which opened in 2010, was highlighted by the company as a significant contributor to the expansion of the budget hotel chain nationwide.

The hotel’s “no-frills” concept played a crucial role in establishing a distinct identity for the brand, the company said in a statement last week.

The hotel offers 222 deluxe and disability-friendly rooms, featuring queen-size or twin beds.

Located in Robinsons Cybergate Plaza EDSA in Mandaluyong, the hotel is situated near Ninoy Aquino International Airport and within walking distance of Manila Metro Rail Transit System 3 Boni Station and EDSA carousel.

“The newly launched Go Hotels Plus Mandaluyong has been receiving rave reviews from our guests. This has already translated into revenue growth for the hotel and is expected to further increase throughout the year,” RHR Senior Vice-President and Business General Manager Barun Jolly said in an e-mailed statement. 

“We forecast 2024 to be a strong year with revenue numbers well above 2019 and this growth is seen across our portfolio of 30 hotels,” he added.

As the hotel upgraded its brand, changes were seen in the modern design and amenities such as a hair dryer, dental kits, and hygiene kits being readily available.

In addition to the existing deluxe twin and queen rooms, a new room category with bunk beds for sharing is not offered for budget-conscious groups.

The lobby, now bigger and equipped with WiFi connection, serves as a recreational and working area.

According to Mr. Jolly, there will be an increase in pricing due to the added feature but still affordable.

RHR reintroduced Go Hotels Plus in 2022, as the economy and the leisure sector were recovering from the COVID-19 pandemic. The first Go Hotels Plus was opened in Tuguegarao, followed by the opening of the second Go Hotels in Naga, South Luzon.

The total portfolio of the budget hotel chain, including Go Hotels and Go Hotels Plus combined, comprises 17 properties nationwide, including four franchised hotels under the Roxaco group. — Aubrey Rose A. Inosante

Overseas Filipinos’ Cash Remittances

MONEY SENT HOME by overseas Filipino workers (OFWs) rose by 3% in February, the Bangko Sentral ng Pilipinas (BSP) said on Monday. Read the full story.

 

Overseas Filipinos’ Cash Remittances

Continuing Conversations: Intersection of higher education and SDGs

FREEPIK

The UNESCO Multisectoral Regional Office in Bangkok, in partnership with The University of Tokyo and Waseda University, held the 5th Multistakeholders’ Meeting on Internationalization of Higher Education in Asia and the Pacific in Bangkok, Thailand in December 2023. This author was part of the contingent comprised of academics and experts from various institutions in Asia and the Pacific. The meeting highlighted the unique position of higher education in addressing global common challenges, including the Sustainable Development Goals (SDGs) which recognize ending poverty, improving education, promoting gender equality, addressing climate change, among others, as universal problems that necessitate an urgent call to action.

At the heart of the multisectoral meeting was a conscious decision to reaffirm the contribution of higher education across selected SDGs as it intersects with each in achieving their respective goals.

Under SDG4 (Quality Education), one of the key targets is Target 4.3 which aims, by 2030, to “ensure equal access for all women and men to affordable and quality technical, vocational and tertiary education, including university.” While current efforts to foster equal access focus largely on reforming internal admissions guidelines, a complementary strategy to achieve this is to promote the internationalization of higher education, defined as “the process of integrating an international, intercultural, or global dimension into the purpose, functions or delivery of postsecondary education” (Knight, 2015). Aside from deepening awareness and tolerance of cross cultures, internationalization plays an integral role in promoting access to quality education at the tertiary level while also fostering diversity and equity. International higher education has a lot of potential in making quality education more accessible for a wider audience, non-elites included, as efforts to democratize international education practices continue to find a space in academic discussions.

At the recently held International Symposium on Democratizing International Student Mobility Partnerships, held at Waseda University in Tokyo in February, emphasis was placed on exploring ways on how to make it possible for international education to be “inclusive, equitable, and rooted in democratic principles.” In the same vein, international education partnerships fostered between the global north and the global south provide an avenue for equitable collaboration in the sense that the latter has a chance to have a more prominent role in leading and setting the tone of proposed projects based on a history of cooperation and mutual trust.

SDG5
Though higher education intersects most prominently with SDG4, its contribution in the promotion of other SDGs cannot be underestimated. For SDG5 (Gender Equality), there is a conscious effort within higher education institutions (HEIs) to include gender policies in their mandate. Whether this is in the form of putting in place mechanisms to protect faculty or students from discrimination or gender-related abuse, or establishing protocols and offering trainings toward maintaining a gender-responsive academic community, the commitment to achieving specific targets of SDG5, particularly Target 5.1 which aims to “end all forms of discrimination against women and girls everywhere,” is undeniably present.

At the Ateneo de Manila University, the establishment of the Gender and Development Office as well as the University Gender Hub offers a clear direction on the university’s efforts to ensure that gender equality protocols towards making the campus a safe space for everyone, particularly women, are in place at the level of policy, audit, curriculum, research, and services.

Most universities also put a lot of effort in advancing social mobility and research among and by females, helping identify gaps in gender equality not only in the academe but in society as a whole. Emphasis on academic institutions’ policies on gender equality, in terms of recruitment and the promotion of women in the academic community, has never been more pronounced as they are in current times. There is a conscious effort to include in university policies directives that would increase the representation of women in academia. This is demonstrated in the case of OECD countries, where women students’ participation in higher education has been on the rise since the 1990s, with an average projection of 58% participation over their male counterparts by 2025 (UNESCO-IESALC, 2023). Data also shows that for female teachers at the tertiary level, global gender parity is projected to be achieved by 2045 across most regions including East Asia and the Pacific (UNESCO-IESALC, 2023).

SDG11 AND SDG13
SDG 11 (Sustainable Cities and Communities) calls for sustainable cities that are inclusive, safe, and could facilitate opportunities with basic services such as transportation and housing for all.

HEIs’ contribution at the institutional level involves efforts to integrate urban planning, environment, and community development in its policymaking as well as in providing meaningful platforms that engage various stakeholders in the academic community as they attempt to integrate SDG11 targets in teaching, research, and curricula design. While higher education involvement in SDG11 target areas are not as pronounced vis-à-vis efforts to achieve the targets for SDG4 and SDG5, there are considerable efforts from universities worldwide to participate in activities that can contribute toward having more sustainable communities.

A recent report by UNESCO-IESALC and Times Higher Education (2023) which measured institutional contribution to SDG11 across the areas of research, support for arts and heritage, and sustainable practices, indicated a small but steady increase between 2020 to 2023 in the number of universities submitting data regarding what they have been doing towards making cities and human settlements more sustainable, inclusive, resilient, and safe.

The intersection between higher education and SDG13 (Climate Action), particularly Target 13.3 which focuses on “improving education, awareness-raising, and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning” is best underscored by the complex roles that many universities have been taking on where combating the challenges of climate change is concerned.

Universities are vital platforms for teaching, learning, and doing research on measures to mitigate climate change impacts and over the years, there have been great strides in integrating climate and environment-related topics in higher education curriculum. As climate change is one of the most contentious issues that humanity faces, higher education service providers enjoy this privileged but critical role of educating and eventually shaping the behavior of future policymakers, scientists, practitioners, and community leaders who are expected to come up with innovative strategies to address climate change and its impact that cuts across environment, social, political, and economic dimensions (Leal Filho et al., 2023).

Beyond learning, universities also have the capacity to be agents of advocacy and activism toward more sustainable practices. There is also room for collaboration between educational institutions and the government as seen in the recent reaffirmation of the partnership between the University of the Philippines – National College of Public Administration and Governance (UP-NCPAG) and the Climate Change Commission (CCC) in order to advance climate governance (CCC, 2024).

CONTINUING CONVERSATIONS
While not exhaustive, the aforementioned initiatives illustrate the evolving role of higher education in contributing to the attainment of societal goals outside the traditional confines of teaching, research, and extension or community work.

There is greater expectation for higher education to tackle common global problems such as the SDGs as it does intersect in achieving key target points for each goal. Central to these intersections is the unique position of HEIs to collaborate with key stakeholders such as governments and international partners in order to come up with significant strategies that will change the face of how the next generations are to solve universal problems with better and more sustainable ways.

 

Pilar Preciousa Pajayon-Berse, PhD. is an assistant professor at the Department of Political Science, Ateneo de Manila University.

How PSEi member stocks performed — April 15, 2024

Here’s a quick glance at how PSEi stocks fared on Monday, April 15, 2024.


PSEi sinks to 6,500 level on Middle East conflict

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THE MAIN INDEX closed at a near three-month low on Monday on profit taking amid the geopolitical conflict in the Middle East.

The benchmark Philippine Stock Exchange index (PSEi) dropped by 1.45% or 96.96 points to finish at 6,562.43 on Monday, while the broader all shares index fell by 1.11% or 39.29 points to close at 3,478.11.

This was the PSEi’s worst finish in almost three months or since it closed at 6,503.54 on Jan. 19.

“The local bourse plunged by 96.96 points (1.45%) to 6,562.43 as worries over tensions in the Middle East heightened, forcing investors to secure some gains to avoid uncertainties,” Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.

“Most Asian markets also fell as investors assessed the impact of Iran’s massive drone and missile attacks on Israel over the weekend. Moreover, investors are waiting for how Israel would respond to this,” she added.

Asian shares fell on Monday as risk sentiment took a hit after Iran’s retaliatory attack on Israel stoked fears of a wider regional conflict and kept traders on edge, Reuters reported.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7% after Iran launched explosive drones and missiles at Israel late on Saturday, in retaliation for a suspected Israeli attack on its consulate in Syria on April 1.

The threat of open warfare erupting between the arch Middle East foes and dragging in the United States has left the region on tenterhooks. US President Joseph R. Biden warned Prime Minister Benjamin Netanyahu the US will not take part in a counter-offensive against Iran.

Israel said “the campaign is not over yet.”

“Philippine shares were sold down as investors took precautionary measures following the geopolitical tensions between Iran and Israel. Over the weekend, Tehran allied militant fired hundreds of missiles, most of which were neutralized,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.

Almost all sectoral indices closed lower on Monday, with mining and oil being the sole gainer, climbing by 0.32% or 27.08 points to 8,311.23.

Meanwhile, holding firms dropped by 1.98% or 123.34 points to 6,077.81; financials went down by 1.67% or 34.25 points to 2,006.48; industrials retreated by 1.22% or 106.67 points to 8,602.87; property declined by 0.9% or 23.32 points to 2,542.77; and services inched down by 0.67% or 12.61 points to 1,844.62.

Value turnover declined to P5.58 billion on Monday with 612.72 million issues switching hands from the P6.78 billion with 523.94 million shares traded on Friday.

Decliners outnumbered advancers, 136 against 63, while 44 issues ended unchanged.

Net foreign selling dropped to P304.76 million on Monday from P567.78 million on Friday. — RMDO with Reuters

Peso weakens to five-month low

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THE PESO sank to a five month-low against the dollar on Monday as escalating conflict in the Middle East led to safe-haven demand and higher global oil prices.

The local unit closed at P56.808 per dollar on Monday, weakening by 27.8 centavos from its P56.53 finish on Friday, Bankers Association of the Philippines data showed.

This was the peso’s weakest close in more than five months or since its P56.955-per-dollar finish on Oct. 27, 2023.

The peso opened Monday’s session weaker at P56.65 against the dollar, which was already its intraday best. Its worst showing was at P56.845 versus the greenback.

Dollars exchanged jumped to $1.59 billion on Monday from $1.08 billion on Friday.

“The peso weakened significantly amid safe-haven demand following the direct Iranian bombing in Jerusalem,” a trader said in an e-mail.

The conflict in the Middle East led to a generally stronger dollar and elevated global crude prices on Monday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The dollar was steady on Monday, holding its biggest weekly gain since 2022, as the prospect of stubbornly high US interest rates and escalating conflict in the Middle East gave support, Reuters reported.

Iran had warned of a strike on Israel and over the weekend launched over 300 drones and missiles in retaliation for what it said was an Israeli attack on its Damascus consulate. The unprecedented drone and missile volley caused only modest damage and Iran said it now “deemed the matter concluded”.

The dollar index, which measures the currency against a basket of six others, was last little changed at 105.92, just below Friday’s 5-1/2 month high of 106.11.

For Tuesday, the trader said the peso could recover against the dollar on expectations of profit taking.

The trader sees the peso moving between P56.65 and P56.90 per dollar on Tuesday, while Mr. Ricafort expects it to range from P56.70 to P56.90. — A.M.C. Sy with Reuters

BIR on track to hit April tax collection target

THE BUREAU of Internal Revenue (BIR) said it was confident it will hit its P400 billion-target for tax collections for April.

BIR Commissioner Romeo D. Lumagui, Jr. told reporters on Monday that the BIR was confident due to the aggressive enforcement measures like a crackdown on the issue of fake receipts.

“We’re expecting that we will be able to meet the P400-billion target for April. If we total the income taxes for the year 2023, we’re expecting to reach that,” he said, referring to the April 15 filing deadline for income tax returns.

He said the 2023 collection target for income taxes is likely to be met, with 4 million total filers, and only 5% yet to file before the April 15 deadline.

However, Mr. Lumagui noted that the BIR still faces challenges in collecting excise taxes from heated tobacco products, and vapor products (vapes).

The BIR also extended by 90 days the transition period for online sellers to collect a 1% withholding tax from the original April 14 deadline.

Electronic marketplace operators and digital financial services providers now have until July 14 to comply, according to BIR Memorandum Circular No. 54-2024. — Aaron Michael C. Sy

PMFTC earmarks $120 million to purchase Philippine tobacco

FIRST LADY Liza Araneta-Marcos (in photo) and Department of Agriculture Secretary Francisco Tiu Laurel, Jr. attend the inauguration of the smoke-free products manufacturing facility of PMFTC, Inc. in Tanauan, Batangas on Monday. — PHILIPPINE STAR/JESSE BUSTOS

PMFTC, Inc. said that it will allot more than $120 million to purchase Philippine-grown tobacco leaf this year.

“More than $120 million… because the quality of the tobacco in the Philippines is getting better and better,” Philip Morris International Chief Executive Officer Jacek Olczak told reporters on Monday.

PMFTC is the Philippine affiliate of Philip Morris International, jointly owned with listed holding company LT Group, Inc.

He added that the company is also preparing to use Philippine tobacco for its smoke-free products.

“They require even better quality, consistency, etc. But I believe the tobacco growers in the Philippines, can deliver that quality,” he said.

He said that the heated tobacco products to be manufactured in a new facility in Batangas will use a mix of Philippine and imported tobacco leaf.

PMFTC inaugurated its P8.8-billion smoke-free products manufacturing plant in Batangas on Monday.

“We have plans of using the Philippine tobacco for the plant here, for this site, but also for export. Because we’re using this in other markets,” Mr. Olczak said.

“You will find Philippine tobacco in our products in every country in which we operate. So in more than 100 markets, you will find Philippine tobaccos in the product,” he said.

In his address, Agriculture Secretary Francisco P. Tiu Laurel, Jr. said that PMFTC’s tobacco leaf purchases average about P1.8 billion per year.

The National Tobacco Administration said that tobacco production may rise to 42 million kilograms this year, amid higher market demand.

Meanwhile, Mr. Olczak said that with the plant’s growing capacity, PMFTC will look into purchasing more tobacco from domestic producers.

He added that the new facility is expected to begin operations within the year.

The facility has a maximum capacity of 3.5 billion smokefree tobacco sticks annually. The plant will manufacture heated tobacco sticks under the company’s Blends brand.

“We will be commissioning the equipment… in the next couple of months, we should be ready for production,” he added. — Adrian H. Halili

Holcim to invest P2 billion in waste recycling, RE

BW FILE PHOTO

CEMENT manufacturer Holcim Philippines, Inc. said it will be investing over P2 billion on sustainability initiatives at its four plants.

Horia Adrian, president and chief executive officer of Holcim, said that the company’s investments for the next three years will focus on sustainability, innovation, and efficiency.

“With doing this, we are going to improve the output of our plants,” Mr. Adrian said in a briefing on Monday.

“We have in the pipeline investments for Geocycle in the amount of 15-20 million Swiss francs, or P1 billion more or less,” he added.

Holcim Chief Sustainability Officer Samuel Manlosa, Jr. said that the investment in its waste management arm, Geocycle, will help create the capacity for local government units (LGUs) to sort and segregate solid waste.

“There is also a side where, if we want to take in more volume, we need to increase our capacity to shred and prepare the materials,” Mr. Manlosa said.

“And then, our cement plants, even as sophisticated and technologically advanced as they are, were constructed 20 years ago when norms were different, so we had to make changes in the process to make sure that the plants were able to accept more,” he added.

Meanwhile, Mr. Adrian said that another P500 million to P1 billion will be invested in the plants’ shift to renewable energy (RE) and in the electrification of its vehicle fleet.

“We are purchasing electricity right now, but we have plans to put in place solar (facilities) and we are looking at the possibility of using electricity generated from biowaste here,” he said.

 “By the end of the year, some of them should be ready,” he added.

 Mr. Manlosa said that the investments will be evenly distributed to the four plants in the next three years.

“The reason why it is paced in three years is because some plants will get it earlier than others because, of course, you have to pace spending,” he said.

“The plants in Luzon — Bulacan and La Union — are in the perfect place for investments; for the plants in Davao and Lugait, Misamis Oriental, there has to be some enabling factor at the LGU-level to be able to make those investments, which is why we are delaying them a year later,” he added. 

He said that the Bulacan and La Union plants are ready to start investment activity this year, while the plants in Davao and Lugait will be ready next year for completion a year later. — Justine Irish D. Tabile

Carbon tax seen bolstering climate funding in region

IMAGE BY DDATCH54/FLICKR/ CC BY-NC-SA 2.0

A PROPOSED carbon tax could help provide the funding Southeast Asia needs to mitigate climate-related disasters, the Asian Development Bank (ADB) said in a webinar, noting that the region is lagging in raising such funding.

“I think carbon taxes are critical actually in our region. We need to be looking at how to increase revenues and fiscal resources for climate action,” Naeeda Crishna Morgado, Senior Infrastructure Specialist (Climate Finance) at the ADB’s Southeast Asia department, said at the webinar.

The Department of Finance said in January that it is studying a carbon tax that is “responsive and economically sensitive.”

Southeast Asia receives 5% of the climate financing available in East Asia and the Pacific, according to research group Climate Policy Initiative.

Luthfyana Larasati, manager of its Climate Finance Program, said climate financing in Southeast Asia is one of the lowest, alongside 0.3% for the Pacific Islands.

“Up to $1.7 trillion (in) annual finance flow will need to be invested in Asia and the Pacific in order to achieve their NDC (Nationally Determined Contribution) targets,” Ms. Larasati told the webinar, referring to the commitments made under the Paris agreement. — Beatriz Marie D. Cruz

DA to appoint new usec to oversee attached agencies

THE Department of Agriculture (DA) is set to appoint a new undersecretary who will be tasked with overseeing the DA’s attached agencies.

“With the size of the DA’s coverage, someone needs to focus on each area. Because the DA covers (a wide range of industries from) vegetables to fish to meat… to irrigation,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. told reporters.

He said roles within the DA are varied enough to accommodate even people from the private sector.

“As I said before, there are lots of appointments within the DA. There are also industry players na nakakasama ko dati (who I worked with previously),” he said.

“Basically, it’s a whole of nation approach… and we invited everybody to join in. Para ’pag may direction tayo, lahat, isa-isa ’yung takbo (If we set a direction, all of us present a unified front),” Mr. Laurel added.

“(The DA) has about 29 bureaus and government-owned and -controlled corporations. It’s one of the most complicated departments, I think,” he said.

Last week, the department announced the appointment of Nora dela Cruz Oliveros as undersecretary in charge of finance, while Allan Q. Umali was appointed undersecretary for administration.

The DA’s impending 14th undersecretary, who was not identified, is already at work while awaiting an official appointment, he said. — Adrian H. Halili

Singapore manufacturer plans air filter plant in Philippines

CENTURYPACIFIC.COM.PH

THE Department of Trade and Industry (DTI) said that a subsidiary of outsourcing firm Wagmi Solutions plans to establish a manufacturing facility in the Philippines to diversify operations away from Mexico and China.

In a statement on Monday, the DTI said it met with representatives of Wagmi on the sidelines of the US-Japan-Philippines Trilateral Meeting to discuss the project of unit NanoForge Technologies.

“The proposed facility will specialize in the production of high efficiency particulate air (HEPA) filters, designed to remove a significant percentage of airborne particles, including dust, pollen, mold, bacteria, and viruses,” the DTI said.

“Nanoforge will manufacture and export these HEPA filters to its main customer, Medify Air — a major air purifier brand in the US,” it added.

The project is also expected to directly benefit coconut farmers, as the plant will use activated carbon sourced from coconut shells.

“We welcome NanoForge’s investment, which aligns perfectly with our goals to strengthen the coconut industry and create more jobs,” Trade Secretary Alfredo E. Pascual said.

“Through the Philippine Economic Zone Authority (PEZA), we are committed to ensuring that this venture is successful and beneficial for all parties involved,” he added.

According to the DTI, NanoForge’s air filters have residential, commercial, and industrial applications.

“In 2024, Wagmi registered NanoForge Technologies in the Philippines to produce HEPA filters for Medify Air, aiming to diversify manufacturing operations currently based in China and Mexico,” it added.

Following the meeting with the DTI, Wagmi will meet with PEZA officials to discuss the incentives under the Corporate Recovery and Tax Incentives for Enterprises Act.

These incentives include an income tax holiday, reduced corporate income tax, and tax- and duty-free imports of capital equipment, raw materials, and spare parts.

“Additionally, they provide value-added tax exemptions, a substantial domestic sales allowance, and exemption from local government taxes and fees,” the DTI said. — Justine Irish D. Tabile