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Sarah Ferguson, UK’s Duchess of York, says in shock after new cancer diagnosis

SARAH FERGUSON, the Duchess of York, said on Monday she was in shock after being diagnosed with a malignant form of skin cancer, her second cancer diagnosis in a year and the latest health issue for a member of the Britain’s royal family.

Ms. Ferguson, 64, the ex-wife of King Charles’ brother Prince Andrew, said on social media she had recently been diagnosed with malignant melanoma.

It comes after she underwent a mastectomy and reconstructive surgery following the discovery she had breast cancer last summer.

“Naturally another cancer diagnosis has been a shock but I’m in good spirits and grateful for the many messages of love and support,” she wrote.

“I am incredibly thankful to the medical teams that have supported me through both of these experiences with cancer and to the MAYRLIFE Clinic for taking gentle care of me in the past weeks, allowing me time for recuperation.”

The duchess, well known by the nickname “Fergie,” added she was now resting at home with her family.

Her cancer diagnosis comes days after Kate, the Princess of Wales and wife of heir to the throne Prince William, underwent abdominal surgery and Charles revealed he would go into hospital this week for treatment for an enlarged prostate.

“I believe my experience underlines the importance of checking the size, shape, color and texture and emergence of new moles that can be a sign of melanoma and urge anyone who is reading this to be diligent,” Ms. Ferguson said.

Since her divorce from Andrew in 1996 she has forged a new career as a successful author. However, she remains close to her husband, and they still share the same family home in Windsor.

She joined the other senior royals for the annual Christmas get-together at the Sandringham estate in eastern England in December, a sign she was back in the royal fold. — Reuters

Manila Water aims to finish P4.2-B sewer network project this year

REPORTS.MANILAWATER.COM

MANILA WATER Co., Inc. on Tuesday said it expects its P4.2-billion sewer network package in Mandaluyong City to be completed this year.

The Mandaluyong West Sewer Network Package 1 is currently 64.49% finished, featuring a 60-million-liter-per-day (MLD) capacity sewer treatment plant (STP), expandable to 120 MLD, the company said in an e-mailed statement.

The sewer project forms part of a 51-kilometer sewer network called the Mandaluyong West-San Juan South-Quezon City South Sewer Project.

Along with the P2.5-billion Hinulugang Taktak STP, the Mandaluyong sewer network is also part of Manila Water’s Three-River System Wastewater Master Plan to help rehabilitate and protect waterways and provide sanitation and sewerage services.

“Manila Water is ramping up its sewerage and sanitation services to reach more customers as part of its Service Improvement Plan,” Manila Water Corporate Communications Affairs Group Director Jeric T. Sevilla said.

“The company is investing heavily in wastewater infrastructure to contribute to better community health and promote environmental sustainability,” he added.

By 2037, the sewer network is expected to serve 704,260 residents of Mandaluyong, San Juan, and Quezon City.

At the local bourse on Tuesday, shares of Manila Water climbed by six centavos or 0.32% to close at P18.60 apiece.

The water concessionaire serves the east zone network of Metro Manila, covering parts of Marikina, Pasig, Makati, Taguig, Pateros, Mandaluyong, San Juan, portions of Quezon City and Manila, and several towns in Rizal province. — Sheldeen Joy Talavera

Value at the heart of outsourcing for SMEs — DOXA Talent

TIRACHARDZ-FREEPIK

By Miguel Hanz L. Antivola, Reporter

TALENT OUTSOURCING for small- and medium-sized enterprises (SMEs) has grown to lean toward value-adding over the typical notion of high-volume, repeatable tasks, according to an industry player.

“Small business owners historically have been really underserved in this market,” David Nilssen, chief executive office of DOXA Talent, told BusinessWorld on the sidelines of a briefing.

“And they don’t need someone to deal with standardized tasks,” he added. “They need skilled workers who can actually add value in lots of different areas of the organization.”

Survey findings from Clutch, a global marketplace for business-to-business service providers, showed 83% of small businesses look to maintain or increase spending on outsourced services last year.

It also recorded marketing (27%), IT services (22%), and design (21%) as the top areas for new outsourced providers.

Mr. Nilssen noted the growing priority for value-consciousness over cost-consciousness, especially among SMEs with limited resources, which the company primarily serves.

“It is an important distinction, so it narrows the size of the market that we can address, but there’s still infinite opportunity as well,” he added.

The IT and Business Process Association of the Philippines (IBPAP) said in a Monday briefing that it hopes to exceed the two-million mark in industry headcount by 2025, citing the competitiveness of the Philippine workforce.

“The IT-BPM (information technology and business process management) industry continues to grow. We ended last year with 1.7 million direct jobs for Filipinos, up 8%, and we generated well over $35 billion in revenue for the economy,” said IBPAP President Jack Madrid.

Last year, Mr. Madrid said that the industry is targeting 7-8% growth in headcount and $39 billion in revenue for 2024.

“Companies must gear up as we are seeing a demographic shift in the workforce with more offshore talents helping businesses thrive, which is also providing a tailwind to the BPO industry,” Mr. Nilssen said.

DOXA Talent has also partnered with an artificial intelligence (AI) training firm to develop the skillset of its employees to better serve small business clients.

“It is a threat to anybody who doesn’t embrace it,” Mr. Nilssen said on leveraging new technologies for improved services.

“You’re going to start to see the BPO industry have to shift from the traditional model and evolve to sort of embrace new modern work trends,” he added on an industry outlook.

“That is remote work, AI, and career development — three things that you have not seen historically done well in the BPO industry anywhere.”

Empowering our future workforce requires transforming high schools

FREEPIK

AMERICA’s healthcare system was experiencing a staffing crisis long before anyone heard the word “Covid,” but the pandemic supercharged it, by leading to many resignations and early retirements. Today, the system is more short-staffed than ever, even as it faces its next big shock: an aging population. Unless we get serious about addressing the shortage of qualified healthcare workers, the quality of medical care will suffer, and its cost will rise.

By 2030, all baby boomers will be 65 and older, and their longer life expectancies mean that the need for medical care will continue to rise. Yet there are currently about 2 million unfilled healthcare jobs. These include medical assistants, respiratory therapists, health information technicians and other roles — and an additional 2 million new jobs are expected by 2031, according to the US Bureau of Labor Statistics.

We cannot expect that the market will solve the labor shortage on its own. A big part of the reason hospitals and other healthcare providers cannot fill these jobs is that college graduates often look elsewhere for jobs, and high school graduates often are not prepared for them, because the jobs require levels of education and training that high schools do not provide.

This is a problem not only for healthcare systems, but for many young adults, too. Wages for high school graduates are often too low for them to save much money, especially for buying homes. This leaves many who wish to begin working upon graduation with an unappealing choice: Go to college and take on debt, or face severely restricted career prospects. Many of those who choose college don’t graduate and are left with loans that impede their ability to save and become homeowners.

Meanwhile, the current 2 million job openings in healthcare offer median starting salaries as high as $70,000, as well as opportunities for growth and advancement. So why aren’t American high schools preparing students for these jobs?

Too many political leaders pretend all students want to go to college. Students who seek to begin working immediately after high school often get shunted into antiquated vocational programs for jobs that are dying out. An overhaul of these programs is long overdue, to align them with both student interest and economic realities — and healthcare is the perfect place to start.

This week, 10 rural and urban communities across the country announced that they will create healthcare-focused high schools that serve nearly 6,000 students in total. The schools will provide education for ninth through 12th grades; beginning in 11th grade, students will also participate in work-based learning during the school week through hands-on, paid internships at partner hospitals — allowing them to apply what they learn in the classroom as well as gain access to a network of professional mentors.

Upon graduation, students will have the option to go straight to work at a partner health system. In addition, hospital partners have committed to subsidizing tuition for students’ ongoing education and providing job opportunities for students who successfully complete the graduation requirements of their respective programs.

This program, which Bloomberg Philanthropies is supporting, can serve as a model for other cities and states around the country, and it can apply to other high-growth industries, too, including information technology, advanced manufacturing and financial services. By giving students a head start on careers that offer opportunities for growth, they’ll reap the benefits for years to come — and so will our whole country.

BLOOMBERG OPINION

IC mulls perks to help boost PHL microinsurance sector

BW FILE PHOTO

THE INSURANCE COMMISSION (IC) is looking to give incentives to new microinsurance players to help prop up the sector and boost financial inclusion in the Philippines.

The regulator plans to introduce incentives for insurance firms entering the microinsurance market, Insurance Commissioner Reynaldo A. Regalado said at an industry forum on Tuesday.

“In the Philippines, microinsurance sells itself. The only thing we have to do is to expose them to everyone. In terms of policies to boost this, we’re looking at incentives and we’re looking at the way we have been checking them. There will be less regulations for some of them if that’s possible and just to make sure, we can help them post audited [financial statements],“ he said.

Microinsurance MBA Association of the Philippines Chairman Emeritus Jaime Aristotle B. Alip said at the same event that lowering taxes or a tax credit scheme could encourage more insurers to go into microinsurance.

He added that the IC could exempt some microinsurance firms from the International Financial Reporting Standard 17 requirement.

Latest data from the IC showed the microinsurance industry’s premium income rose by 19.6% to P10.16 billion as of end-September 2023, up from P8.49 billion in the same period in 2022.

The number of lives insured under microinsurance policies also went up by 2.34% year on year to 56.29 million from 55 million, the IC said.

While the microinsurance industry has grown in the past years, the sector still lacks major players as there are only 49 companies selling microinsurance, Mr. Regalado noted.

This is because the industry caters to sectors that are exposed to a lot of risks, which result in higher loss ratios, Philippine Insurers and Reinsurers Association, Inc. Executive Director Michael F. Rellosa said at the same event.

Microinsurance could get a boost from digital innovations, UnionDigital Bank Chief Commercial and Revenue Officer Mike Singh said.

Digital innovations could help microinsurers reach remote populations establish trust with communities, and help them design more affordable products and manage operational costs, he said.

“Microinsurance and credit together form a powerful duo in advancing financial inclusion, offering a safety net to the underserved by providing accessible, cost-effective coverage alongside essential credit services,” Mr. Singh said.

AGRI-INSURANCE
Meanwhile, a potential growth area for the microinsurance industry is agriculture as the farm sector faces risks related to climate change and low capital, Pioneer, Inc. President and Chief Executive Officer Lorenzo O. Chan, Jr. said.

However, agri-insurers struggle with poor sales, cost-effective distribution, loss assessment, and high loss ratios, International Monetary Fund (IMF) Operations Officer in Climate and Risk Management Advisory Services, Financial Institutions Group Paul Xavier Espinosa said.

“The agri-insurance industry in the Philippines remains underdeveloped, with just three Philippine insurers actively offering agri products in 2022,” he added.

Insurers are also hesitant to go into the agriculture sector due to the lack of data, as these are mostly only available at the municipal level, Mr. Chan said.

United Nations Development Programme Climate Action Programme Team Leader Floradema C. Eleazar said they are partnering with government departments under the Strengthening Institutions and Empowering Localities Against Disasters and Climate Change in the Philippines program to develop a database for the agri-insurance sector. — AMCS

Philippines improves in climate change performance

The Philippines jumped six spots to 6th out of 67 countries in the Climate Change Performance Index (CCPI) 2024 report by the Germanwatch, the NewClimate Institute, and the Climate Action Network. The country  outperformed its peers in the Asia-Pacific region with an overall score of 70.70, the highest in the region.

 

Philippines improves in climate change performance

How PSEi member stocks performed — January 23, 2024

Here’s a quick glance at how PSEi stocks fared on Tuesday, January 23, 2024.


Peso rebounds on rate cut bets

BW FILE PHOTO

THE PESO rebounded against the dollar on Tuesday on expectations of rate cuts from the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve later this year.

The local unit closed at P56.155 per dollar on Tuesday, strengthening by 17.5 centavos from its P56.33 finish on Monday, based on Bankers Association of the Philippines data.

The peso opened Tuesday’s session weaker at P56.35 against the dollar. Its intraday best was at P56.10, while its weakest showing was at P56.435 versus the greenback.

Dollars exchanged went down to $1.397 billion on Tuesday from $1.71 billion on Monday.

“The peso recovered amid prospects of delayed policy rate cuts from the Bangko Sentral [ng Pilipinas] this year,” a trader said in an e-mail.

The BSP is unlikely to begin its easing cycle in the first half of the year amid upside risks to inflation, Mr. Remolona said to reporters over the weekend.

The Monetary Board raised benchmark borrowing costs by a cumulative 450 basis points (bps) from May 2022 to October 2023, bringing the policy rate to a 16-year high of 6.5%.

The central bank will hold its first policy meeting for this year on Feb. 15.

The peso was also supported by a weaker dollar recently amid expectations of a delayed rate cut by the US central bank, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The US central bank hiked the fed funds rate by 525 bps from March 2022 to July 2023 to the 5.25-5.5% range.

For Wednesday, the trader said the peso could strengthen further ahead of a likely softer US gross domestic product report.

The trader sees the peso moving between P55.95 and P56.20 per dollar on Wednesday, while Mr. Ricafort expects it to range from P56.05 to P56.25. — AMCS

PHL shares climb, take cue from Wall Street

REUTERS

PHILIPPINE SHARES rose further on Tuesday amid positive investor sentiment following the increase in US markets overnight and improved economic prospects.

The bellwether Philippine Stock Exchange index (PSEi) climbed by 38.41 points or 0.58% to close at 6,621.88 on Tuesday, while the broader all shares index rose by 13.74 points or 0.39% to end at 3,493.56.

“This Tuesday, the local market rose by 38.41 points to 6,621.88 as investors took positive cues from Wall Street overnight. This is amid the record runs of both the S&P 500 and the Dow Jones Industrial Average. The optimism kept the local bourse in the green territory for the whole session,” Philstocks Financial, Inc. Research and Engagement Officer Mikhail Philippe Q. Plopenio said in a Viber message.

“With today’s performance, the main index is back above the 6,600 level after a brief correction from the past few days,” he added.

The benchmark S&P 500 scaled a fresh record-high after closing at a record on Friday for the first time in two years, confirming it was in a bull market, Reuters reported.

The Dow Jones Industrial Average rose 138.01 points or 0.36% to 38,001.81; the S&P 500 gained 10.62 points or 0.22% to 4,850.43; and the Nasdaq composite gained 49.32 points or 0.32% to 15,360.29.

“The PSEi again corrected higher for the second straight day … after US stock markets again mostly posted new record highs… and the latest positive outlook of the local BPO (business process outsourcing) industry association,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The IT and Business Process Association of the Philippines (IBPAP) on Monday said that it hopes to exceed the two-million mark in BPO industry headcount by 2025.

IBPAP President Jack Madrid said the association’s members ended 2023 with 1.7 million direct jobs, up 8% year on year, and generated over $35 billion in revenue.

The industry is targeting 7-8% growth in headcount and $39 billion in revenue for this year.

All sectoral indices closed higher on Tuesday. Property surged by 31.04 points or 1.08% to 2,890.66; financials climbed by 19.32 points or 1.05% to 1,856.51; services increased by 7.31 points or 0.45% to 1,617.63; industrials went up by 24.26 points or 0.26% to 9,090.77; mining and oil rose by 15.86 points or 0.16% to 9,377.97; and holding firms improved by 6.1 points or 0.09% to 6,323.40.

“Among the index members, Monde Nissin Corp. was at the top, climbing 3.01% to P8.55. Converge ICT Solutions, Inc. lost the most, dropping 1.81% to P8.68,” Mr. Plopenio said.

Value turnover climbed to P4.76 billion on Tuesday with 775.59 million issues changing hands from the P4.56 billion with 301.17 million shares traded on Monday. 

Advancers outnumbered decliners, 100 to 88, while 49 issues closed unchanged.

Net foreign selling stood at P421.62 million on Tuesday versus the P97.27 million in net buying logged the prior day. — RMDO with Reuters

ICC drug investigators may come but gov’t will not offer help, Marcos says

PHILIPPINE STAR/MICHAEL VARCAS

By John Victor D. Ordoñez, Reporter

PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday said International Criminal Court (ICC) investigators may come to the Philippines, but his government would not help in their probe of the state’s deadly drug war.

“The Philippine government will not lift a finger to help any investigation that the ICC conducts,” he told reporters on the sidelines of his visit to the National Kidney and Transplant Institute in Quezon City, based on a video sent via Viber.

“As ordinary people, they can come and visit the Philippines, but we won’t help them,” he added, reiterating that he sees the investigation as a threat to Philippine sovereignty.

“In fact, we are monitoring them (ICC officials), making sure that they do not come into contact with any agency of the government,” Mr. Marcos said in mixed English and Filipino.

In January last year, the Hague-based tribunal reopened its probe of ex-President Rodrigo R. Duterte for alleged “crimes against humanity,” saying it was not satisfied with Philippine efforts to probe human rights abuses during the period.

In November, the President said his government is considering rejoining the ICC. He had ruled out cooperation, saying the probe violates Philippine sovereignty given the country’s fully functioning justice system.

Mr. Duterte canceled Philippine membership in the ICC in 2018 amid criticisms that his government had systematically murdered drug suspects in police raids. It took a year later.

Meanwhile, the Department of Justice (DoJ) said the ICC had yet to inform them of its investigators’ visit, noting that the government is not legally bound to cooperate with the probe.

“As such, any presence of international bodies, such as the ICC, within our jurisdiction must be in accordance with our Constitution and relevant laws,” it said in a statement. “The Philippine government has shown that it is ready, willing and able to investigate and prosecute any crimes committed within its territory.”

The ICC must first secure consent and approval from the DoJ, the Department of Foreign Affairs and Department of Interior and Local Government before it starts its probe, the DoJ said.

“The ICC is an independent body exercising jurisdiction conferred on them under the Rome Statue and they can exercise the same with or without cooperation from any government,” Ephraim B. Cortez, president of the National Union of Peoples’ Lawyers (NUPL), said in a Viber message.

He said the probe was not an affront to the country’s sovereignty since the Philippines was still a member of the ICC when the extralegal killings were committed.

The ICC also wants to probe vigilante-style killings in Davao City when Mr. Duterte was still its vice mayor and mayor.

The Philippine Supreme Court in 2021 dismissed a petition seeking to void the Philippines’ withdrawal from the ICC in 2019. It said the petition was moot since the international court had accepted the country’s withdrawal.

The High Court said withdrawing membership does not remove liability for extralegal killings committed in Mr. Duterte’s war on drugs.

“I repeat my admonition to all those who have legitimate complaints about any abuses committed during the war on drugs: our own national institutions are ready to investigate and prosecute all those who have violated the law,” Solicitor General Menardo I. Guevarra, who was Mr. Duterte’s Justice chief, told reporters in a Viber message.

He told a House of Representatives justice and human rights hearing in November that the Philippines is not legally bound to follow the High Court ruling, saying it “may be persuasive, but not the doctrinal ruling of the court.”

European Union lawmakers have urged the Philippine government to rejoin the ICC to reinforce its commitment to human rights.

Justice Secretary Jesus Crispin C. Remulla earlier told the United Nations Human Rights Council the Philippines could probe erring officials without the ICC’s help.

The government estimates that at least 6,117 suspected drug dealers had been killed in police operations. Human rights groups say as many as 30,000 suspects died.

“What the ICC investigators need is to be able to perform their function without interference from the government,” NUPL’s Mr. Cortez said. “They have the competence to gather evidence based on their experience and training.”

Senate rejects efforts to dilute vote on ‘Cha-cha’

PHILIPPINE STAR/ PAOLO ROMERO

PHILIPPINE senators on Tuesday opposed a proposal for both chambers of Congress to vote jointly to change the 1987 Constitution, saying senators could not cast meaningful votes against more than 300 congressmen.

“If this people’s initiative prospers, further changes in the Constitution will open the floodgates to a wave of amendments and revisions that will erode the nation as we know it,” according to a statement signed by all senators and read by Senate President Juan Miguel F. Zubiri in plenary.

Last week, Mr. Zubiri said President Ferdinand R. Marcos, Jr. had asked the upper chamber to lead the review of the Constitution’s economic provisions, saying the President thought a people’s initiative push is too divisive.

The Senate president said a joint voting on charter change (“Cha-cha”) would “destabilize the system of checks and balances.”

“It is ridiculous that the Senate, a co-equal member of the House, which is needed to pass even local bills, will have a dispensable and diluted role in Charter change, the most monumental act of policymaking concerning the highest law of the land,” according to the Senate statement.

The People’s Initiative for Modernization and Reform Action earlier released a TV ad advocating Charter change, saying farmers, students and local businesses did not benefit from the 1987 Constitution.

Senator and presidential sister Maria Imelda “Imee” R. Marcos earlier said as much as P20 million was offered to districts in several provinces that could deliver 20,000 signatures in favor of Charter change.

Albay Rep. Edcel C. Lagman also said P100 was allegedly given to voters who signed a petition in favor of amending the Constitution through a people’s initiative.

Senate Majority Leader Joel J. Villanueva has said Charter change would not solve the country’s problems. “The Constitution cannot simply be tampered, changed or amended, but this doesn’t mean that it’s perfect,” he said in a statement in Filipino on Monday.

In a separate statement on Tuesday, Speaker Ferdinand Martin G. Romualdez said it is crucial to revisit the Constitution to boost foreign capital and investments, but denounced the alleged vote-buying campaign.

“The House of Representatives stands committed to providing a transparent and accountable framework to support the people’s initiative, ensuring that it remains a true representation of the people’s collective will,” he said.

Mr. Marcos said he would leave it to the Commission on Elections (Comelec) to verify signature campaigns allegedly used to buy votes in favor of amending the Constitution.   

“We will just let Comelec do their job, do their work to validate the signatures and if there’s a suspicion, then the signatures won’t be counted,” he told reporters on the sidelines of his visit to the National Kidney and Transplant Institute in Quezon City.

The President said last month efforts were under way to revisit the economic provisions of the Constitution. — John Victor D. Ordoñez

Marcos orders NICA revamp to boost cybersecurity

PIXABAY

PRESIDENT Ferdinand R. Marcos, Jr. has ordered the reorganization of the National Intelligence Coordinating Agency (NICA) to boost cybersecurity efforts.

Under Executive Order (EO) 54 signed by Executive Secretary Lucas P. Bersamin on Jan. 19, the President also ordered the creation of an Office of the Deputy Director General for Cyber- and Emerging Threats who will work on counter-intelligence measures.

“There is a need to reorganize the NICA to adapt to the evolving threats to national security and ensure a more vigorous intelligence collection, intensify internal and external coordination with foreign and domestic counterparts,” according to a copy of the order uploaded on the Official Gazette website.

The President cited the need to assess intelligence and security.

The NICA assistant secretary will head the office and will plan and supervise measures against cyber-security threats and weapons of mass destruction, according to the order.

The Philippines ranked second among countries with the most cyber-attacks worldwide in 2022, Kaspersky said in March.

Last year, the country faced 2.4 million brute force or trial-and-error attacks among remote workers, 52,914 financial phishing cases among businesses, 24,737 crypto-phishing cases, 15,732 mobile malware cases and 50 Trojan virus cases, according to data from Kaspersky.

In a July 2023 study, the Anti-Money Laundering Council (AMLC) said there were 182,729 suspicious transactions linked to online sexual abuse and exploitation of children worth P1.56 billion from 2020 to 2022.

Information and Communications Technology Secretary Ivan John E. Uy earlier said the Philippines only had 200 certified cyber-security experts in 2022.

The Armed Forces of the Philippines in October said it was considering creating a cyber-command to improve the country’s defenses against cyber-attacks. — John Victor D. Ordoñez