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Losing gracefully

FREEPIK

WHEN JOINING any contest, the objective is to win, no matter how the odds are stacked against you. All the effort and competitive skills are brought to bear towards success. The participant may not deem it necessary to craft a victory speech ahead of time, since this may bring bad luck, but does he even bother to think of a concession speech in case he loses? (Is he even going to be interviewed for his comments?) Still, the contestant must always consider the possibility, sometimes a big one, of losing.

Political contests are classic examples of the need to prepare for defeat.

A concession speech, after a loss, should contain the following — Gracious thanks to the supporters for the sacrifices made (including being with the defeated candidate rather than switching too quickly to the victor on the other side  — that will come a week later), a reminder of the public service already rendered, an expression of the willingness to offer one’s talent to the people (who already rejected it), and the gratitude for having met so many from different walks of life understanding their dreams and aspirations, and maybe congratulating the winner and hoping for his future success in the new position. (This last one can be skipped.)

A public congratulation to the winner (He won’t have time to chat with the loser, anyway) and an offer, no matter how insincere, to help without asking for any concession or position in return may be seen as a desperate attempt to share in the media limelight.

Unless the contest is just between two candidates, the attendance at a concession speech is expected to be thin, especially in terms of media attention. The bigger crowd is in another place, more crowded and jubilant.

Seldom is any graciousness and acceptance expected from defeat.

Too often, the loser lashes out at the process that put him in the dark side of the stage, away from the lights of the television cameras which are in another part of the building  — with the winner. There may even be hints of cheating.

There may be a protest march, a prayer rally, or, nowadays just as effective as a platform for whining, filing a case in court, or an invitation for an international investigation from election watchers, maybe a combination of these to give vent to the frustrations of losing.

And yet, losers may in fact have been truly robbed of their mandate, as is the case in a country in Latin America. International organizations may even be supporting this claim.

Chasing a big prize requires energy and monetary as well as emotional investment. The contest changes the contestants. Rules can be set aside, previously stated beliefs tweaked to conform to the prevailing sentiment from focus groups. Those formerly held in contempt may have been sought for alliances. And old friendships may need to be abandoned.

All losers carry the burden of humiliation. Will analysts of what went wrong be far behind?

Those who lose contests seldom concede. They prefer to fade away and lick their wounds in private. Their point of view is no longer objective. Bad procedures, unfair advantages, terrible officiating, uneven application of the rules are offered as explanations for defeat. Seldom does the loser grant or even allude to the superior ability and execution of the winner.

Even in a contest like sports which is attended by crowds, the interpretation of the outcome can vary depending on affiliation and team support. A close game that could have gone either way is seen as a lost opportunity by the loser  — if only he made those foul shots.

The art of losing has seldom been perfected. Why should it be? The focus of attention is on the winner. The loser is a sideshow undeserving of any public reaction. After all, one does not want to be too good at giving concession speeches. All the effort and practice go into trying to compete fiercely, and winning, and then preparing a victory speech before a big crowd.

But it is a fact of life that there are fewer winners than losers. It is the singular gold medalist that attracts cash prizes along with celebrity status. Brave efforts that almost got an athlete to the podium may be warmly extolled in private. A concession speech becomes unnecessary — even embarrassing.

 

Tony Samson is chairman and CEO of TOUCH xda.

ar.samson@yahoo.com

Huawei launches Mate 70 smartphone as new US chip curbs loom

REUTERS

SHENZHEN, China — Chinese tech giant Huawei Technologies unveiled its Mate 70 smartphone series on Tuesday, marking a significant step in its premium smartphone comeback while showcasing its own operating system in a clean break away from US technology.

The phone marks the “the most powerful Mate phone ever,” Richard Yu, chairman of Huawei’s Consumer Business Group, said at an event in the company’s hometown of Shenzhen.

The Mate 70 is the first mainstream smartphone to include a satellite paging system, has an improved processor and runs on Huawei’s own HarmonyOS Next operating system, which together boost performance by 40% compared to previous models, Mr. Yu said.

The launch comes as the US is expected to announce new export controls that could add up to 200 Chinese chip companies to a trade blacklist as soon as this week, restricting their access to US suppliers, Reuters reported on Saturday.

Huawei does not typically discuss its chip advancements at product launch events, with improvements usually discovered by teardown firms later.

The Mate 70 series is the first major commercial rollout of the HarmonyOS NEXT, a significant step in Huawei’s push for software independence since US curbs cut off its access to Google services in 2019.

While Huawei’s earlier versions of Harmony OS maintained Android compatibility, the HarmonyOS NEXT, which began public testing this year, represents a complete break from Android.

Last week, Huawei said it had secured more than 15,000 applications for its HarmonyOS ecosystem, with plans to expand to 100,000 apps in the coming months.

The patriotic sentiment surrounding Huawei’s technological breakthrough has helped fuel its market recovery and intensified competition with other players, including iPhone maker Apple, in China — the world’s largest smartphone market.

Huawei was ranked as China’s No.2 smartphone vendor in the third quarter of 2024, with deliveries exceeding 10 million units for the fourth straight quarter, according to research firm Canalys. This is a significant rebound from the second quarter of 2022 when it shipped just 4.1 million units.

The Mate 70 is the successor to the Mate 60 series released in August last year, widely seen as marking Huawei’s comeback to high-end smartphones.

Teardown analyzes revealed both the Mate 60 and the Pura 70 series — launched in April — feature advanced chips manufactured by China’s SMIC, underscoring the country’s growing semiconductor capabilities despite Western export controls. — Reuters

PLDT introduces ‘Always On’ service

BW FILE PHOTO

PANGILINAN-LED PLDT Inc. has introduced the country’s first-ever “uninterrupted” broadband service connectivity.

“Seamless broadband connectivity is no longer a convenience but rather a necessity. It is actually similar already to our utilities of water and electricity, which we need always on, always available,” Roy Victor E. Añonuevo, vice-president and head of PLDT Home Broadband Product Management, said during a briefing on Wednesday.

PLDT Home’s “Always On” broadband service is said to be the first of its kind in the country.

Mr. Añonuevo said the add-on service for PLDT Home Fiber will cost around P299 per month.

The service provides a hybrid modem that automatically switches a customer’s connection from fiber to LTE in case of service interruption, similar to a generator set for electricity.

The service also sends automatic triggers to PLDT, notifying it of a line problem in the event of an interruption, while also giving its subscribers priority service for repairs.

“We call this ‘Always On.’ In the event of a service interruption, you don’t need to worry about losing access to the internet. Even with a severed cable, you will stay connected and pursue your online activities with minimal interruption,” said Senior Vice-President and Head of Home Business Group Jeremiah M. de la Cruz.

PLDT has allocated P75 billion to P78 billion for capital expenditures this year for mobile, port rollout, data centers, and submarine cables.

At the stock exchange on Wednesday, shares in the company closed P34, or 2.57% lower, to end at P1,290 each.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Tips for holiday travelers as new US consumer protections kick in

CLAUDIO SCHWARZ-UNSPLASH

NEW YORK — If you thought last year’s holiday travel was insane, well, buckle your seatbelt.

American Automobile Association projects 79.9 million Americans will travel 50 miles or more from their home over Thanksgiving, an increase of 1.7 million over last year. Transportation Secretary Pete Buttigieg says this could make for some of the busiest travel days in American history.

At airports, the crowds will put a lot of stress on the system: Security lines, staffing shortages, equipment snafus, potential delays and cancellations.

But there is good news for consumers: New rules and regulations are designed to make it easier for travelers to get compensated when things go wrong.

Here are tips from the experts.

1. ENJOY NO-HASSLE REFUNDS

Previously, if your flight was screwed up and you wanted a refund, you may have been out of luck.

But now this entitlement has been codified into law.

“If there is a snowstorm in Chicago and you can’t get to Thanksgiving dinner, airlines should now offer a refund automatically without making you jump through hoops,” says John Breyault, travel expert for the National Consumers League.

A caveat: This only applies if you want a refund rather than being rebooked to your destination. If you file for a refund and then have to book a new last-minute ticket, it could end up costing you through the nose.

Other factors to know: The new rules only apply to flights booked after Oct. 28. And the rules only kick in when there is a “significant delay” of at least three hours for a domestic flight and six hours for an international one.

2. PAY ATTENTION TO YOUR NOTIFICATIONS

Turning your phone off or leaving it on silent mode? Big mistake.

“Make sure the airline can text and e-mail you, and install their app on your phone,” says Teresa Murray, consumer watchdog director for the advocacy group US Public Interest Research Group.

“Because if something is going on, you need to know about it quickly — and if you don’t respond to them, it’s on you.”

3. CHECK THE DASHBOARD

When it comes to meal or hotel vouchers for disrupted flights, the airlines all have different commitments that they have made to the Department of Transportation.

“It is up to the airlines to decide their own policies, but they do have to say what they will do for passengers in case of delays,” says Mr. Breyault. “And that is enforceable by law.”

Find that information on the consumer dashboard FlightRights.gov, which lists exactly what you can expect from the nation’s top 10 carriers. Ideally, do your research long before you go to the airport, so you are prepared if chaos hits.

Keep in mind that there is a difference between “controllable” events and those that are not. Staffing or maintenance problems are considered controllable, for instance. But a hurricane obviously isn’t. So in that case the airline would not have the same obligations to the traveler.

4. ASK — NICELY

Customer service responses from airlines are rarely uniform: How smooth your experience is after a problem may depend on the individual you are dealing with.

Remember that the airline representative is a person doing their job and likely is as stressed out as you are. So be polite, Ms. Murray says.

“That person you are talking to didn’t cause your travel problem — so don’t be nasty,” Ms. Murray says. — Reuters

Tala looks to expand customer base to 10M in next three years

TALA PHILIPPINES is eyeing to grow its customer base to 10 million within the next three years as it also seeks to widen its reach to other Southeast Asian markets.

“Where we are at the moment globally, we would like to be in the Philippines in three years from now, so at around 10 million customers,” Tala Philippines General Manager Moritz Gastl said at a briefing on Wednesday.

The financial technology company currently has over three million customers in the Philippines and over 10 million worldwide.

“We still believe that it’s about improving and increasing reach — so, reaching more customers in the Philippines with our existing product, because we do feel that it provides a lot of value and that means really going deeper into certain market segments,” he added.

Tala has disbursed over P100 billion worth of loans in the Philippines, with 500,000 loans granted globally on a monthly basis.

Apart from the Philippines, Tala is also looking to expand its presence in other markets in the region.

“We are actually expanding to other markets in Southeast Asia in the next year or so,” Tala Philippines Senior Marketing Manager Missy de Rivera-Santos said.

“We have proven in several markets now that our model works, that its a very successful product, our customers like the product and therefore we are slowly looking at expanding this to other countries,” Mr. Gastl added.

He said they are closely looking at Vietnam as their next potential destination.

“But we have no rush. We still feel like there is a large opportunity in the Philippines. You think there’s so many players, but in reality, there are still massive gaps in the market,” Mr. Gastl added.

Tala is also working on expanding its product line in the next few years to cater to segments such as micro, small and medium enterprises (MSMEs), he said.

“We look at specific segments and potentially structure new products around these segments. These MSMEs, they’re currently using the Tala loan to buy inventory. Luckily, our product is flexible enough to allow for that, but an inventory loan is a different loan product from the product that we have at the moment.”

Roughly 38% of Tala’s borrowers are informal MSMEs, he said, but noted that it is difficult to estimate the exact number given how broad the sector is.

“Over time, we really hope, in the next one or two years, we hope to actually have a dedicated product for larger product segments,” Mr. Gastl added.

Tala currently offers a flexible credit line capped at P25,000, but they are looking at raising this limit in the future.

“We will certainly increase that further, but we are focusing a lot on giving customers access in the first place,” Mr. Gastl said.

“We are aware that sometimes P1,000 may not be enough, but at least it’s a way in the door.”

Over time, Tala is planning to upgrade its credit limit to ideally P50,000, he said.

“At some point, maybe even P100,000 at cheaper rates than what we’re offering at the moment, but this is really something more like a three-year plan because over time we need to learn more about the customer and give them better loans,” he added.

Tala will also continue to focus on credit alone, Mr. Gastl said.

“We’re not positioning ourselves to be like the next super app that has a lot of other features. The focus is really on there’s a massive need for credit. Customers are underserved. We want to make sure that we give a good credit product at a good price to the right customers,” he added.

Tala is also working on offering QR payments, which will soon be available to clients.

“We still have a lot of work to do in terms of our industry in general. People don’t always have a positive relationship to credit in the Philippines, and that’s really something that we’re trying to overturn,” Mr. Gastl said.

FINANCIAL LITERACY
To improve credit perception, Tala offers various initiatives on financial literacy to educate Filipinos on credit use and financial management.

It is also currently working with the Atlantic Council Geoeconomics Center for a research partnership on the “global majority.” The global majority mainly refers to women, children, MSMEs and individuals that make up the largest percent of the population, but are more likely to be unbanked and underserved, according to Tala.

“It doesn’t just end with a bunch of data and numbers, but really it sets the groundwork as a reference to influence policy,” Ms. de Rivera-Santos said.

This would also ensure that “investors and stakeholders can actually use this information to create a more inclusive, financially inclusive industry here in the Philippines,” she added.

Tala Philippines External Affairs Director Arianne Ferrer noted the gaps in knowledge on the state of finance in the Philippines.

“That’s what we’re working with this entity to study more about. What are the metrics? How do we make sure these standards of measurement are consistent throughout countries and throughout regions? Because there’s so much data that’s not adequately captured by existing mechanisms.”

The research could help the industry develop frameworks that can be used in the future, she added.

“It’s really the beginning of a conversation, and we’ll try to get various stakeholders in the public sector and the private sector. It’s really getting everybody on the same page and collaborating research, active engagement with the community,” Ms. Ferrer said. — Luisa Maria Jacinta C. Jocson

National Government fiscal performance

THE NATIONAL Government’s (NG) fiscal position swung to a surplus in October, driven by a 23% jump in revenues, the Bureau of the Treasury (BTr) said on Wednesday. Read the full story.

National Government fiscal performance

How PSEi member stocks performed — November 27, 2024

Here’s a quick glance at how PSEi stocks fared on Wednesday, November 27, 2024.

Gov’t urged to act on ‘water crisis,’ ex-Public Works secretary says

PHILIPPINE STAR/EDD GUMBAN

By Justine Irish D. Tabile, Reporter

THE GOVERNMENT needs to improve its execution on water management issues and address delays caused by right-of-way (RoW) acquisition, a former Public Works secretary said.

“We are facing what I refer to as the cycle of destruction because we are not properly addressing the water crisis,” Rogelio L. Singson told reporters Wednesday.

“Water is not rocket science. Unfortunately, the funds are not being used properly. It’s sad to say that the funds are there, but they are not being used the right way,” he added.

He said much of the funding is wasted because the right projects are not being pursued.

“What is happening now is we have the wrong project, the wrong cost, and the wrong quality. So, the money is wasted,” he added.

On the topic of right-of-way acquisition, he said that all the government infrastructure projects are experiencing delays due to RoW issues.

“The funds are there, no doubt. There are RoW funds. But for them to be able to use that, the documentation should be complete,” he said.

“If the documentation is not complete, which identifies who will pay and how much, how can you obligate the funds? So, (the funds) are being reverted,” he added. 

He called for specialists dealing with RoW in every infrastructure agency.

“We need a dedicated team and a lot of help coming from the local government units (LGUs). If the LGUs do not accept the project, nothing will happen. So, the LGU must accept the project,” he said.

The Legislative-Executive Development Advisory Council has identified the amendments to the RoW Act as among the priority bills for passage within the 19th Congress.

However, Mr. Singson said that amending the bill should not be the top priority.

“The law is already there. You can already pay RoW based on market value,” he said.

“But what I suggest is to pay them based on market and replacement value,” he added.

He said that this will allow the landowners to buy land and rebuild their homes once they relocate.

“(Replacement value) is easy to calculate. It is just a measurement — what is the home made of — concrete or wood?” he added.

Mr. Singson, who is the former president of the Metro Pacific Tollways Corp., was recognized by the Management Association of the Philippines as the Management Person of the Year 2024.

Cement firms seek anti-dumping duties for more Vietnam exports

PHILSTAR FILE PHOTO

CEMENT manufacturers have requested a review of the anti-dumping duties on specific types of cement from Vietnam in a bid to expand the measure to other types of cement and other manufacturers, the Tariff Commission said.

In a notice Wednesday, the commission said it commenced an investigation on the matter in Nov. 27, with a preliminary conference scheduled for Dec. 6.

The investigation covers the anti-dumping duties imposed on imports of ordinary Portland cement type 1 and blended cement type 1P from Vietnam.

According to the regulator, it received recommendations and endorsements from the Secretary of Trade and Industry regarding requests by domestic manufacturers.

Republic Cement & Building Materials, Inc., Holcim Philippines, Inc., and CEMEX Holdings Philippines, Inc. requested a review of the scope of the anti-dumping measure. 

In particular, the cement industry requested an interim review of the anti-dumping duty on the two cement types to include blended cement type 1T, among others.

A foreign exporter, NCL Trading Joint Stock Co., also requested a review of the anti-dumping duty against ordinary Portland cement type 1 from Vietnam.

“Considering that both requests for interim review raised issues involving common questions of law or fact, said requests shall be consolidated and only one interim review shall be undertaken by the commission,” according to the notice.

“The domestic industry shall be considered as the petitioner for the consolidated requests,” it added.

Through a department order dated Dec. 16, 2022, the Department of Trade and Industry imposed anti-dumping duties on ordinary Portland Cement Type 1 and Blended Cement Type 1P imports from Vietnam for five years. 

This was later updated in a department order dated Feb. 14, 2023.

In March 2023, the Bureau of Customs posted Customs Memorandum Order 05-2023, which imposed a definitive anti-dumping duty on the imports from Vietnam, ranging from 2.33% to 23.33% depending on the company. — Justine Irish D. Tabile

Agricultural trade deficit tops $3 billion in Q3

REUTERS

THE agricultural goods trade was in deficit by $3.01 billion in the third quarter, widening by 1.5% year-on-year, according to the Philippine Statistics Authority (PSA).

In a report, the PSA said agricultural trade — the sum of exports and imports — rose 12.1% to $6.69 billion, reversing an 11.8% year-earlier decline.

Agricultural exports rose 21.8% to $1.97 billion for the three months to September, accounting for 10.3% of total exports.

Animal or vegetable fats and oils and their cleavage products, prepared edible fats and animal or vegetable waxes were the top agricultural exports, accounting for 29.5% of the total with a value of $583.43 million.

Farm products shipped to Association of Southeast Asian Nations (ASEAN) countries accounted for 8.7% of total exports and were valued at $239.85 million.

Malaysia was the Philippines’ top export market for farm goods, accounting for $121.13 million or 50.5% of the Philippines’ farm exports to ASEAN.

Animal or vegetable fats and oils, followed by tobacco, and edible fruits and nuts were the top farm export to ASEAN.

Shipments to the European Union (EU) made up 19.4% of all agricultural exports, and were valued at $410.78 million.

The top destination for Philippine farm products was the Netherlands which took in $185.71 million, or 45.2% of all farm exports to the EU.

Animal or vegetable fats and oils and their cleavage products, prepared edible fats and animal or vegetable waxes were the top agricultural exports to the region.

The PSA reported that imports of agricultural goods rose 8.7% year on year to $4.99 billion in the three months to September.

Cereals remained the top agricultural import in the third quarter at 21% of the total, valued at $1.05 billion.

Imports from the EU amounted to $450.29 million or 24.6% of farm imports by value.

Spain was the top EU supplier of farm goods, accounting for $112.93 million or 24.3% of overall farm imports.

Meat and edible meat offal were the top imports from the EU, followed by dairy, eggs, honey, and prepared animal fodder. — Adrian H. Halili

Meat importers support use of seized frozen meat, seafood for calamities

REUTERS

THE Meat Importers and Traders Association (MITA) said seized frozen meat and seafood need to go into a reserve stockpile for use in emergencies, if the shipments are proven safe for human consumption.

“Since meat and seafood that are properly frozen and stored do not pose any health concerns, such products can constitute a reserve stock of protein to be tapped and utilized in emergency situations,” MITA President Emeritus Jesus C. Cham said in a joint statement with the Fisheries and Aquaculture Board.

Earlier, the Department of Agriculture (DA) urged the Bureau of Customs (BoC) to release 580 metric tons of seized frozen mackerel for use in relief operations for typhoon victims.

Agriculture Secretary Francisco P. Tiu Laurel, Jr. ordered the Bureau of Fisheries and Aquatic Resources to conduct tests on the seized frozen fish.

“The seized mackerel underwent laboratory testing and were found to be fit for human consumption. We urge the competent authority to declare and certify the same as wholesome,” Mr. Cham added.

He said that the DA should attempt to put to use all frozen meat and seafood seized by the BoC or abandoned by importers.

He added that both agencies should enter into a memorandum of understanding to formalize procedures.

“They should likewise be declared wholesome if tested and found to be fit for human consumption,” he said.

Mr. Cham added that such a move could boost the government’s food security efforts and decrease food waste.

He said that products should be tested and taken out of port within two months of seizure or abandonment.

“In this manner, port congestion can be avoided, and costs of electricity, storage and demurrage can be lessened,” he added.

Republic Act 12022 or the Anti-Agricultural Economic Sabotage Act, seeks to deter the smuggling or hoarding of farm products. The law classifies agricultural smuggling, hoarding, profiteering, and engaging in a cartel as economic sabotage. — Adrian H. Halili

SRA considering import clearance fee hike for alternative sweeteners

REUTERS

THE SUGAR Regulatory Administration (SRA) said that it is studying an increase in import clearance fees for alternative sweeteners.

“Our (intent) is to gather accurate data on how much are entering and then what is entering. The charges for import clearances are very minimal,” SRA Administrator Pablo Luis S. Azcona told reporters.

He said the planned fee hike for high fructose corn syrup is P30 per equivalent bag of sugar and P10 per equivalent bag for all other sweeteners.

Tariff Code  17.02 of the ASEAN Harmonized Tariff Nomenclature sets tariffs only for high fructose corn syrup.

Mr. Azcona added that a Sugar Order (SO) has been drafted and is up for review by the SRA board.

Mr. Azcona said the SRA is looking to approve the SO by next month with a potential effectivity date of January.

He added that industrial users of alternate sweeteners have also been consulted on the increase in import clearance fees.

“We explained to them that we are first data gathering, and then in the future we will (discuss other policies),” he said.

Agriculture Secretary Francisco P. Tiu Laurel, Jr. has ordered an investigation into the entry of other sweeteners after meeting with the sugar industry. Producers have said such imports compete with cane sugar.

The regulator was tasked to look into the actual volumes of other sweeteners and, if warranted, require them to acquire clearances as well.

Additionally, Mr. Azcona said that the SRA is also seeking to address imports of artificial sweeteners.

“We would want to also monitor the volumes coming in. Based on our information it is quite large, between 200,000 to 300,000 tons,” he added.

He said that the regulator will also study the health issues related to artificial sweeteners in potential collabortion with the Department of Health. — Adrian H. Halili

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