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Safeguard measures, Tatak Pinoy seen curbing cement imports

REPUBLIC CEMENT/NESTLE.COM.PH

SAFEGUARD measures as well as the Tatak Pinoy Act, could address the persistent influx of foreign cement, the Cement Manufacturers Association of the Philippines (CeMAP) said.

According to CeMAP, cement imports continue to flood the market even with domestic producers experiencing overcapacity.

The Department of Trade and Industry (DTI) launched a preliminary safeguard measures investigation on the increasing imports of cement classified under AHTN Codes 2523.29.90 and 2523,90.00.

“It is our prayer that this investigation regarding the influx of imported cement by the DTI would lead to recognizing the negative impact to the local industry (as) safeguard measures can definitely relieve the injury,” Renato A. Baja, executive director of CeMAP, said via Viber.

“We are in the same with DTI as far as acknowledging and recognizing that the influx of imported cement, particularly from Vietnam, has caused injury to the domestic industry,” he added.

He said the Philippine cement industry can produce up to 50 million tons annually, exceeding estimated demand of around 35 million tons.

“However, imported cement, particularly from countries like Vietnam, where domestic demand is declining and surplus production is exported, continues to exert pressure on Philippine manufacturers,” he added.

Last week, the DTI said cement imports are projected to increase 4.96% year on year to 7.36 million metric tons (MT) this year.

Cement imports grew 10.34% in 2020 and 17.2% in 2021, then dropped 2.89% in 2022. They rose 4.74% in 2023.

“Based on the initial findings, there is substantial evidence indicating that increased imports of cement have caused serious injury to the domestic industry,” the DTI said.

“This injury is manifested in declining market share, reduced production and sales, decreased capacity utilization, diminished profitability, price depression, undercutting, and suppression,” it added.

It said that the surge in imports has led imported cement to displace domestic products.

“Relative to domestic production, the volume of imports of cement increased from approximately 30% in 2019 to 35% in 2020 and from 36% in 2021 to 41% in 2022,” the DTI said.

“In 2023, the share of imports to domestic production increased further to 47% and 51% in January to June 2024 as domestic production declined,” it added.

In terms of country of origin, DTI’s report showed that 93%, or 3.44 million MT, of the cement imports in the January to June period came from Vietnam, while the other sources are Indonesia (2%) and Japan (5%).

According to CeMAP, the cement industry is among the few where nearly 100% of raw materials are sourced locally.

“This industry is both capital and energy intensive and operates without government subsidies for energy costs or taxes. Despite these challenges, it capitalizes on the country’s abundant natural resources and skilled workforce to produce cement at fair and competitive prices,” it said.

“Economies of scale and high capacity utilization are crucial for cost efficiency; however, with current utilization rates at only 55% to 60%, production costs remain suboptimal, forcing some plants to temporarily shut down,” it added. 

Nonetheless, CeMAP said that the initiation of the investigation is very timely as the imports are really making the local industry suffer.

“By supporting local production through these safeguard measures and the recently passed Tatak Pinoy Act, the government plays a crucial role in stabilizing employment, bolstering local industries, and maintaining essential construction standards,” it said.

“Without such measures, the ongoing influx of foreign cement poses significant risks to jobs, businesses, and the broader economy,” it added.

The DTI, through a department order in Dec. 16, 2022, imposed anti-dumping duties on Ordinary Portland Cement Type 1 and Blended Cement Type 1P imports from Vietnam for five years.

This was later on updated through 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 imports from Vietnam ranging from 2.33% to 23.33% depending on the company.

Meanwhile, DTI Bureau of Import Services Director Maria Guiza B. Lim noted that safeguards and anti-dumping measures are applied differently.

“Safeguard measures are global in application while anti-dumping is country- and exporter-specific,” Ms. Lim said in a Viber message.

“Safeguard measures are a safety net for the surge in imports causing injury to domestic industry, while anti-dumpinWg occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect,” she added. — Justine Irish D. Tabile

Key components for strategic risk management

IN BRIEF:

• Board surveys reveal a pressing need for more effective risk management, with several boards recognizing room for improvement.

• The strategic empowerment of CROs is essential to navigate the complex risk landscape and capitalize on emerging opportunities.

• Implementing a connected risk approach and embracing technology are key steps to advancing risk management practices and driving organizational value.

In an era where risk landscapes are rapidly evolving, the role of Chief Risk Officers (CROs) has never been more crucial. The 2023 EY Global Board Risk Survey revealed a stark reality: 60% of boards agree that emerging risks are insufficiently addressed in risk management. Looking ahead, the survey suggests that boards need to strengthen their governance structures, processes and knowledge to improve oversight of both risks and opportunities.

The survey further echoes the urgency for robust risk management, identifying various risks poised to severely impact organizations in the upcoming year. From geopolitical events and supply chain disruptions to cyberattacks and changing customer demands, the array of threats is diverse and daunting. Notably, while certain risks such as changing customer demands have decreased in perceived importance since 2021, others like misaligned culture and increased remote working have surged in significance.

EMPOWERING THE CHIEF RISK OFFICER
Successful risk management lies in the empowerment of the CRO. In many non-regulated sectors, this role is not formally recognized within the C-suite, despite the intense demands on risk leaders. As the complexity of the risk environment evolves, the need for CROs to collaborate closely with executive management and the board becomes paramount.

Boards now expect executive management to identify risks and uncover the opportunities they may present. For example, a competitor’s new joint venture could be seen as a threat, but from a strategic standpoint, it might also represent an acquisition target or potential partnership. Additionally, boards are calling for a deeper understanding of interconnected risks and their second-order impacts, such as the multifaceted challenges posed by climate change.

CROs must be fully integrated into the business strategy and kept abreast of emerging megatrends that could affect the organization. Their insights are invaluable for mitigating downside risk and seizing “upside” opportunities. To be effective, CROs need clear and open communication channels with other senior executives and should be involved in regular management reporting, including strategies, business plans, and investment proposals.

Successful risk stewards are characterized by their ability to break down organizational silos and work across all lines of defense. They understand the cultural risk appetite and can motivate leaders to adopt a common risk definition. Their experience in prioritizing risk outcomes is crucial for organizational performance.

CONNECTED RISK APPROACH
A connected risk approach leverages improved data access to risk taxonomy, implements dynamic risk assessment methods that adapt to the changing business environment, and coordinates risk response and reporting across all Three Lines (e.g., management, risk and compliance teams and internal audit). This approach unifies data on a common platform, offering continuous refresh capabilities and creating value through analytics and dashboards for better risk management planning.

To execute a connected risk approach, an integrated risk taxonomy is essential. It provides a single view of risk by connecting data from traditionally siloed functions across the Three Lines. This enables rapid identification and assessment of risks that matter. Building a dynamic risk assessment is a collaborative effort that must be comprehensive and flexible, incorporating new data and market changes for agility.

The dynamic risk assessment process includes orienting the mandate to manage risk, identifying risks through data-driven inputs, prioritizing current risks, and responding in a manner that fits the organization’s risk posture. It incorporates qualitative assessments, quantitative metrics, risk performance leveraging a common taxonomy, and external data to challenge internal risk assessments.

TECHNOLOGY-ENABLED RISK MANAGEMENT
The 2023 EY Global Board Risk Survey indicates that only 31% of boards say their oversight of risks related to digital transformations is very effective, while 19% say it is slightly or less effective. Traditional risk management, which relied on professional judgment and manual processes, must evolve to take advantage of automation and data analysis capabilities.

Integrated Risk Management treats risk and compliance activities as an enterprise-wide responsibility, promoting transparency and better decision-making. Automation technology can process low-value manual tasks and free up management time to enable them to focus on emerging risks, while data collection and monitoring can be automated to occur in real time to flag issues earlier. Cloud and AI technologies can execute complex scenario analyses and reveal insights into risk interdependencies.

An integrated risk platform is foundational for connected risk capabilities, storing and modeling relationships between various data sources. This unified technology solution provides better insights, enabling a common risk ecosystem, consolidating risk management activities, and managing customer expectations through informed risk-taking.

FOSTERING RESILIENT RISK LEADERSHIP
To be risk resilient, the boards need to understand the full spectrum of current and emerging risks that could impact the organization. CROs can swiftly generate value by aggregating risk registers to form a comprehensive risk landscape and conducting collaborative sessions to unify risk definitions across the organization. This establishes a centralized framework and common taxonomy, essential for integrating risk management with strategic and operational planning. By embedding risk considerations into decision-making and employing technology for automation, CROs enhance the organization’s proactive risk posture, turning risk management into a strategic asset for resilience and success.

As organizations strive for resilience amid escalating risks, empowering CROs is essential. They must break down silos, foster collaborative interactions, adopt a connected risk approach, and harness technology to modernize risk management strategies. The strategic empowerment of CROs is not just beneficial — it is imperative for safeguarding and driving value.

This article is for general information only and is not a substitute for professional advice where the facts and circumstances warrant. The views and opinions expressed above are those of the authors and do not necessarily represent the views of SGV & Co.

 

Christiane Joymiel C. Say-Mendoza and Joseph Ian M. Canlas are business consulting partners of SGV & Co.

Philippines blasts HK, 9-2, to sweep East Asia Baseball Cup

ROMEO JASMIN — ROMEO JASMIN’S FACEBOOK ACCOUNT

THE PHILIPPINES smothered Hong Kong (HK), 9-2, on Sunday to complete a sweet sweep of the East Asia Baseball Cup and a spectacular five-peat feat in the event at The Villages Sports Center in Clark, Pampanga.

Romeo Jasmin was the Filipinos’ deliverance as he allowed just one-run in the first six innings that helped set the tone before catcher Mark Manaig belted a three-run homer that lit the decisive five-run eighth inning.

The crown underscored the country’s dominance of the biennial event after reigning supreme for the fifth straight time in the edition presented by Smart, PLDT Home and the Philippine Sports Commission.

“It’s a sense of relief, honestly,” said Philippines manager Vince Sagisi, a former Cleveland Indians scout who took the challenge to coach the country where he was born to honor his Filipino parents.

“Anytime you play a tournament of this magnitude in your home country, there’s a lot of expectations. So the eventual winning of the championship, it’s almost a relief,” he added.

The championship sealed the nation a spot to next year’s Asian Championships next year.

Mr. Jasmin was eventually named MVP for his heroics.

He was nothing short of magnificent on this one after he yielded just a run on four hits and fanned out four batters, and, in the fourth inning with the bases loaded, escaped with a double play that helped quashed Hong Kong’s attempt to turn things around in its favor.

Up by just two, 4-2, Mr. Manaig blasted away with that three-run homer that nailed the coffin of the Hong Kong batters to the delight of the good-sized weekend crowd that went home with smiles on their faces.

Thailand took the bronze by edging Singapore, 11-10, in the tournament also supported by San Miguel Foods, Clark Development Corp., Pythos Technologies, Metro Pacific Tollways, Meralco, MWell, Genesis, Kenko, SSK, Brett, Carmen’s Best, Cogent, and CEDC. — Joey Villar

Alas Pilipinas standouts make pro debut in PVL All-Filipino tilt

THEA GAGATE — PVL

Games on Saturday
(PhilSports Arena)
4 p.m. – Galeries vs Akari
6:30 p.m. – Petro Gazz vs Choco Mucho

THE DEBUTS of Alas Pilipinas standouts Thea Gagate and Julia Coronel and the return battle-scarred Rachel Daquis and Jovelyn Gonzaga are expected to add to the buzz that the Premier Volleyball League (PVL) All-Filipino Conference has been generating as it unfurls on Saturday at the PhilSports Arena.

Ms. Gagate will finally get to play as a pro after being picked first by ZUS Coffee in the league’s historic rookie drafting early this year while Ms. Coronel, the No. 3 pick, will also suit up for the first time with Galeries Tower.

Mses. Gagate and Coronel missed the league’s first two conferences this season due to national team commitments.

Ms. Daquis, who last played for Cignal before going on a one-year hiatus, will make a comeback with Farm Fresh, while Ms. Gonzaga, who also suited up for a conference with Cignal early this year, gets some piece of the action again as she was acquired by Zus.

Both Mses. Daquis and Gonzaga should provide the veteran presence that their youth-laden teams desperately need.

Interestingly, Ms. Gonzaga will team up with Ms. Gagate and a Zus team that also boasts of

2024 NCAA MVP Cloanne Mondoñedo, Jade Gentapa, Michele Gamit and Gayle Pascual of three-time unbeaten NCAA champion College of St. Benilde.

For Ms. Daquis, she will be mentoring a promising squad consisting of Trisha Tubu, Ciatlin Viray and Louie Romero.

The conference will be unfurled with Galeries Tower and Akari colliding at 4 p.m. and Petro Gazz and Choco Mucho clashing at 6:30 p.m. — Joey Villar

Cavs nip Bucks on Mitchell’s last-second jumper

DONOVAN MITCHELL buried a jumper with 0.3 second remaining as the Cleveland Cavaliers extended their unbeaten run with a 114-113 win over the host Milwaukee Bucks on Saturday night.

Mitchell had 30 points for the Cavaliers, who recorded their seventh successive victory, their best start to a season since Bill Fitch coached them to a franchise-record 8-0 start in 1976-77.

Sam Merrill contributed 17 points off the bench, including five 3-pointers, Jarrett Allen had 15 points and 12 rebounds, Evan Mobley had 14 points and seven boards and Darius Garland finished with 11 points and 10 assists.

Damian Lillard notched 41 points – including 10 3-pointers — and nine assists, Giannis Antetokounmpo piled on 34 points, 16 rebounds and nine assists and Taurean Prince scored 16.

Inside the frenetic final minute of the fourth, with the Cavs up by one, Mitchell missed a pair of runners, Antetokounmpo overcooked a layup and Brook Lopez blocked Allen’s dunk attempt.

Lillard nailed a step-back jumper with 9.8 seconds left to put Milwaukee in front before Mitchell replied with the game-winner.

Lillard, who was held to a career-low-tying four points on 1-of-12 shooting vs. Memphis on Thursday, bounced back with two treys in the first 90 seconds and finished the opening term with 18 points, including 5 of 8 from downtown.

The Bucks had jumped ahead 9-0, led by as many as 16 points and buried 8 of 15 3-pointers to lead 38-30 after one.

Mitchell piloted a 13-0 second-quarter burst to help the Cavaliers get their first lead before Milwaukee moved back in front at the half when Antetokounmpo’s no-look, behind-the-back bounce pass found Lillard for his seventh triple.

The lead changed hands 11 times in the third period, at the end of which Cleveland led 87-84, before further momentum swings continued to shape the contest in the pulsating fourth. — Reuters

KC QB Patrick Mahomes eyeing WNBA franchise for Kansas City

PATRICK MAHOMES said he wants to see a WNBA expansion team come to Kansas City (KC).

Unlike the average professional athlete, Mahomes may have the pull, and the money, to make it happen.

“We want to get basketball to Kansas City in general and then WNBA,” Mahomes said Thursday. “The success that they’ve had this last season and these last few seasons, it’s kind of a no-brainer.”

Mahomes and his wife Brittany are investors in the Kansas City Current of the National Women’s Soccer League. Mahomes also has purchased ownership stakes in Major League Baseball’s Royals and Major League Soccer’s Sporting Kansas City.

The three-time Super Bowl champion, who signed a $500 million contract extension with the Chiefs in 2020, said he wants to continue to be a professional sports team owner long after his playing days are done, saying with women’s sports in particular he wants to “showcase to my daughter that she can follow her dream and go out there and execute on whatever that dream is.”

Kansas City has an appetite for basketball, thanks to the tradition of the nearby University of Kansas. The city also built an NBA- and NHL-ready arena, the T-Mobile Center, which did not attract a permanent tenant in one of the major leagues.

As the WNBA expands from 12 to 15 teams over the next two seasons, adding clubs in San Francisco, Portland and Toronto, it hopes to reach the round number of 16. Nearby St. Louis and Philadelphia are also expected to compete with Kansas City for a franchise.

“To try to get a WNBA team in Kansas City to this fan base — you see it if you talk about University of Kansas basketball, the Chiefs or whatever it is — the city of Kansas City is going to come out and they’re going to fill the stadium,” Mahomes said. — Reuters

Salah sends Liverpool top; Man City surrenders long unbeaten run

LIVERPOOL enjoyed a perfect day as they came from behind to beat Brighton and Hove Albion, 2-1, and Premier League title rivals Manchester City and Arsenal both suffered defeats on Saturday.

Mohamed Salah secured the points for Liverpool at Anfield to put Arne Slot’s side two points clear of injury-hit champions City who lost in the league for the first time in 11 months, going down to a shock 2-1 defeat at Bournemouth.

Arsenal lost 1-0 at Newcastle United, meaning Mikel Arteta’s side have managed only one point from their last three games.

Nottingham Forest’s dream start to the season continued as they crushed West Ham United, 3-0, to move into third place.

Liverpool have 25 points from 10 games with City on 23 while Forest have 19. Arsenal are fourth with 18 points although could slip out of the top four if fifth-placed Aston Villa avoid defeat at Tottenham Hotspur on Sunday.

Slot has enjoyed the best start by any new Liverpool manager since replacing Juergen Klopp and Saturday’s victory was his side’s 13th in 15 matches in all competitions.

While the defeats for City and Arsenal were a bonus, the Dutchman said he was only concerned with his own side.

“Not because of those results but it feels special because we faced Arsenal last week who are a very tough team,” he said.

“Today we faced the same quality and idea about football and both times we had to come from behind to get a result. That is what makes my day, not so much the results from other games.”

Liverpool fell behind after 14 minutes against Brighton with Turkey international Ferdi Kadioglu rifling in a stunning effort as the visitors seized control.

Slot’s side were struggling to get back on level terms but got a break when Cody Gakpo’s 69th minute cross went straight into the net to lift the mood.

Three minutes later Salah curled home a stunning effort from the right side of the penalty area and that proved enough.

“The second goal was a Mo Salah special,” Slot said.

City boss Pep Guardiola had lamented his side’s injury list in the build-up to their game at Bournemouth and his side were without John Stones and Ruben Dias as well as several others as their club record 32-game unbeaten Premier League run ended.

“We couldn’t match up to the intensity,” Guardiola said.

MISERABLE RUN
Bournemouth had lost all 14 of their previous Premier League meetings with City with an aggregate score of 45-7 but ended that miserable run as City lost for the second time this week after a League Cup exit at Tottenham Hotspur on Wednesday.

Bournemouth went in front after nine minutes with Antoine Semenyo touching in a low cross by Milos Kerkez.

Evanilson doubled the home side’s lead in the 64th minute after more good work by Kerkez before Josko Gvardiol halved the deficit to set up a tense finale in which Erling Haaland somehow hit the post from point-blank range.

Arsenal managed only one shot on target in the early kickoff at St James’ Park where Newcastle striker Alexander Isak’s early headed goal proved the difference between the sides.

Forest won a third Premier League game in a row for the first time since 1999 as they took West Ham apart.

In-form striker Chris Wood gave his side the lead against West Ham who were reduced to 10 men on the cusp of halftime as Edson Alvarez chopped down Anthony Elanga. Callum Hudson-Odoi doubled Forest’s lead after the break before Ola Aina blasted in a third goal to send the City Ground fans into raptures.

“I think we can get better,” Forest manager Nuno Espirito Santo said of taking Forest as high as third in the Premier League for the first time since 1998, said.

Promoted Southampton celebrated a first Premier League victory of the season as Adam Armstrong struck a late winner to clinch a 1-0 triumph over Everton at St Mary’s.

Ipswich Town thought they hade also registered a first Premier League win of the season as they led Leicester City 1-0 at Portman Road thanks to a Leif Davis volley.

But Jordan Ayew scored deep into stoppage time to salvage a point for Leicester. Ipswich had tried to hang on with 10 men after Kalvin Phillips was sent off with 12 minutes left.

Ipswich and Southampton both remain in the relegation zone with Wolverhampton Wanderers still bottom after a 2-2 draw at home to Crystal Palace in the late kickoff. — Reuters

Unrivaled up to 36 players after beating financial expectations

UNRIVALED, the upcoming three-on-three women’s basketball league, added its 30th player for its inaugural season Thursday, but she won’t be the last.

The league will have not 30 but 36 players— six teams of six— for its first campaign, co-founder Napheesa Collier announced, with Indiana Fever center Aliyah Boston later revealed as the league’s 30th signing.

Collier and New York Liberty star Breanna Stewart founded the league to provide players an alternative to earning money overseas during the WNBA’s offseason. The season will be eight weeks long during the WNBA’s offseason, and players who join Unrivaled will receive equity in the league.

Boston, 22, was the first overall pick of the 2023 WNBA Draft and the 2023 Rookie of the Year. In two seasons in the league, she has started all 80 possible games for Indiana and averaged 14.2 points, 8.6 rebounds, 2.7 assists, 1.2 blocks and 1.1 steals per game. — Reuters

Crisis of indentity

When the Bucks hired Doc Rivers to be their head coach at the start of the year, they were reeling from a crisis of identity. They were still among the league elite, to be sure; erstwhile bench tactician Adrian Griffin had, at the time of the change, steered them to a heady 30-13 slate, good for second overall in the National Basketball Association. Yet, they seemed on the verge of an implosion. The new mentor wasn’t quite sticking the landing; respected assistant Terry Stotts called it quits in the preseason following a spat, and players were privately seething from unusual behind-the-scenes handling.

Amid the upheaval, the Bucks figured to swing the pendulum in the other direction. Rivers was, on paper, a logical hire; unlike Griffin, he had a ton of experience pacing the sidelines — and especially for and with marquee names. More importantly, he was a playoff fixture in close to two-and-a-half decades of plying the trade. That said, he did not come without risk. For one thing, he was himself fresh off a firing; the Sixers had just parted ways with him after consecutive exits in the second round of the postseason.

To argue that the Bucks should have given Griffin more runway to counter the turbulence would be tantamount to engaging in revisionist history. Foundational piece Giannis Antetokounmpo appeared to have checked out by then, withdrawing his endorsement of the left-field hire as fast as he made it. And, by extension, the choice of Rivers looked smart; the acquisition of an experienced coach had as its objective the injection of stability to the green and cream. The roster turnover was in and of itself significant, and the arrival of an old hand in the industry came across as timely at worst.

Unfortunately, Rivers did not — could not — hit the ground running for some reason. Perhaps he needed time; setting aside Griffin’s evident success on the win-loss front, he needed to ensure that the partnership between Antetokounmpo and eight-time All-Star Damian Lillard would be built for the longer term. In other words, he knew he would have to take a step back in order to move two steps ahead. And, creditably, the Bucks have preached patience in the last 10 months. Under the circumstances, it’s fair to contend that they have stayed focused on the ultimate goal.

At the same time, the Bucks have every right to wonder how long they have to — or, to be precise, can — wait before making the determination that what they see is what they get. Rivers finished the 2023-24 regular season with a 17-19 record, and then crashed out of the first round of the playoffs. And his current campaign has featured more of the same old, same old; including yesterday’s loss to the red-hot Cavaliers, he is an atrocious 1-5 and dead last in the Eastern Conference.

Where do the Bucks go from here? Their murky future regardless of the options on tap may well be the only reason they have continued to preach patience. Anxiety is bubbling to the surface, barely being contained by Rivers’ increasingly unsettling assurances that they’re on the right track even though they’re scraping the bottom of the barrel. And unless and until they get to right the ship, they will, at some point, be compelled to ask why they’re bent on engaging in insanity — doing the same thing over and over again and expecting a different result.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

Harris opens SNL, urges US to ‘keep Calm-ala’ before Tuesday’s election

DEMOCRATIC presidential nominee and US Vice-President Kamala Harris reacts next to Maya Rudolph as she makes an appearance on Saturday Night Live in New York City, US, Nov. 2, 2024. — REUTERS

NEW YORK  — Democratic presidential candidate Kamala Harris appeared on the Saturday Night Live (SNL) TV comedy show on Saturday, adding a surprise jolt to the US presidential election just three days before her showdown with Republican Donald Trump.

Ms. Harris portrayed herself, appearing in a mirror opposite the actor who plays her on the show, Maya Rudolph, who was nervously preparing for a campaign speech. Dressed identically in a black suit and pearls, the two traded variations on Harris’ first name, saying Americans want to “end the drama-la” in politics “with a cool new stepmom-ala.”

“Keep Calm-ala and carry on-ala,” they said in unison.

“I don’t really laugh like that, do I?” Ms. Harris asked, after Ms. Rudolph imitated her distinctive chortle.

“A little bit,” Ms. Rudolph responded.

Ms. Harris was making her first appearance on the show, which has had other presidential candidates over its decades-long run.

“It was fun,” she told reporters on the tarmac before flying to Detroit in the battleground state of Michigan.

Mr. Trump appeared on SNL during his first presidential bid in 2015, where he poked fun at his tendency to exaggerate and steer clear of policy specifics. He also appeared in 2004. A Trump aide said on Saturday he did not know whether he had been invited to appear this year.

Earlier on Saturday, Ms. Harris’ and Mr. Trump’s planes shared the tarmac in Charlotte, North Carolina, as the two candidates held dueling events in the southern state, one of a handful that will determine the outcome of Tuesday’s election. It was the fourth day in a row that the candidates campaigned in the same state.

Only seven states are seen as truly competitive, but a poll released on Saturday showed Ms. Harris holding a surprise lead in Iowa, a state Trump won easily in the last two elections.

‘BEAUTIFUL WHITE SKIN’
Mr. Trump and Ms. Harris stuck to familiar themes at their appearances.

Mr. Trump said he would deport millions of immigrants if elected and warned that if Ms. Harris wins, “Every town in America would be turned into a squalid, dangerous refugee camp.”

Campaigning in Atlanta, Ms. Harris said Mr. Trump would abuse his power if he returns to the White House.

“This is someone who is increasingly unstable, obsessed with revenge, consumed with grievance, and the man is out for unchecked power,” she said.

More than 75 million Americans have already cast their ballots, according to the Election Lab at the University of Florida, in a sign of voter enthusiasm.

In North Carolina, the western counties that were devastated by Hurricane Helene appeared to be voting at roughly the same rate as the rest of the state, according to Catawba College political science professor Michael Bitzer.

At a rally in Salem, Virginia, Mr. Trump said he ran for office to rescue the economy from “obliteration” even though it would have been easier to relax at one of his oceanfront resorts.

“I didn’t need to be here today,” he said. “I could have been standing on that beach, my beautiful white skin getting nice and being smacked, being smacked in the face by a wave loaded up with salt water.”

Mr. Trump was joined on stage by women from a local college swim team who have objected to competing against transgender athletes. Some of Mr. Trump’s TV ads have sought to capitalize on transgender controversies. — Reuters

Australia to slash $10 billion off student debt amid cost of living pressures

An Australia Dollar note is seen in this illustration photo June 1, 2017. — REUTERS/THOMAS WHITE/ILLUSTRATION

SYDNEY — Australian Prime Minister Anthony Albanese said on Sunday that his government planned to cut student loans for around three million Australians by 20%, wiping off around A$16 billion ($10 billion) in debts.

The move builds on May’s budget, which attacked cost of living pressures in Australia and gave debt relief for students, as well as more investment to make medicines cheaper, and a boost to a rent assistance program.

“This will help everyone with a student debt right now, whilst we work hard to deliver a better deal for every student in the years ahead,” Mr. Albanese said in a statement announcing the cut to student loans for tertiary education.

The changes would mean the average graduate with a loan of A$27,600 would have A$5,520 wiped, the government said, adding that they would take effect from June 1, 2025.

The government said it already planned to cut the amount that Australians with a student debt have to repay per year and raise the threshold to start repayments.

If reelected at the next general election, due in 2025, Labor would also legislate to guarantee 100,000 free places each year at the country’s Technical and Further Education institutes, Mr. Albanese said.

“This is a time for building, building better education for all,” he said in a speech to supporters in South Australia state capital Adelaide.

Cost of living pressures, stoked by stubbornly high inflation, have a special resonance with a federal election looming and the center-left Labor government now polling behind their conservative opponents. — Reuters

North Korean white paper says South’s president has raised risk of nuclear war

SEOUL — North Korean state media released a white paper on Sunday accusing South Korean President Yoon Suk Yeol of exposing his country to the danger of nuclear war through his policies toward the North.

The document, compiled by North Korea’s Institute of Enemy State Studies and released by state news agency KCNA, criticized Mr. Yoon’s “reckless remarks” about war, abandoning elements of an inter-Korean agreement, engaging in nuclear war planning with the United States, and seeking closer ties with Japan and NATO.

“Its ever-worsening military moves resulted only in the paradoxical consequences of pushing (North Korea) to stockpile its nuclear weapons at an exponential rate and further develop its nuclear attack capability,” the paper said.

Mr. Yoon, a conservative, has taken a hard line on North Korea, which has forged ahead with developing its arsenal of nuclear weapons and ballistic missiles in defiance of United Nations Security Council resolutions.

His administration blames North Korea for raising tensions with weapons tests and providing military aid and troops to aid Russia’s war in Ukraine.

Pyongyang has been taking steps to sever inter-Korean ties, redefining the South as a separate, hostile enemy state, since Kim Jong Un declared it a “primary foe” early this year and said unification was no longer possible.

North Korea blew up sections of inter-Korean roads and rail lines on its side of the heavily fortified border between the two Koreas last month, and satellite imagery shows it has since built large trenches across the former crossings.

The two Koreas are still technically at war after their 1950-53 war ended in an armistice, not a peace treaty.

The two Koreas have also clashed over balloons of trash floated since May from North Korea. Pyongyang has said the launches are a response to balloons sent by anti-regime activists in the South.

Sunday’s white paper also listed Mr. Yoon’s domestic political woes, including scandals involving his wife, which have driven his approval ratings to record lows.

Meanwhile, the United States on Sunday deployed B-1B bombers for joint aerial drills with South Korea and Japan, in response to North Korea’s recent launch of an intercontinental ballistic missile, according to South Korea’s Joint Chiefs of Staff.

The military exercise showed the three countries’ strong commitment to responding to the North’s nuclear and missile threats through cooperation, the Joint Chiefs of Staff said in a statement.

This is the second time this year that the three countries conducted joint air drills and the fourth time in 2024 that the United States deployed its strategic bombers on the Korean peninsula, the Joint Chiefs of Staff said. — Reuters

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