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Energy dep’t seeking up to $250M to derisk exploration for geothermal investors

FIRSTGEN.COM.PH

THE PHILIPPINES may need to obtain an initial $250 million to derisk projects for potential geothermal developers, the Department of Energy (DoE) said.

“The de-risking facility is about $250 million,” Energy Assistant Secretary Mylene C. Capongcol said on the sidelines of a conference organized by the National Geothermal Association of the Philippines (NGAP) on Wednesday.

She said that eligible geothermal developers will be entitled to claim 50% of the exploration and drilling costs from the de-risking facility.

“It would be cost shared on the drilling and exploration stage which is the riskiest,” she said.

The DoE has tapped the Asian Development Bank for technical assistance to develop and implement the geothermal de-risking facility.

The funding sources are still being evaluated, with Ms. Capongcol saying the DoE is in talks with the Land Bank of the Philippines, the Philippine Guarantee Corp., and the Department of Finance for potential partnerships.

The DoE has also initiated a meeting with the International Monetary Fund and other international institutions.

“The de-risking facility will surely boost interest in undertaking exploration drilling in the years to come, and eventually lead to the development of more geothermal projects,” NGAP President Jaime Jemuel C. Austria, Jr. said in a speech.

Mr. Austria said the geothermal companies continue to test and commission new geothermal power plants.

Marvin S. Bailon, vice-president and head of the business development group at Energy Development Corp., said that the Philippines could unlock its geothermal resources by streamlining permit processing.

“Being able to apply for permits in parallel help not just the geothermal development but all renewable energy and energy projects,” he said.

Mr. Bailon said that the capital needed for exploration and drilling is about P1.5  billion to P2 billion.

The DoE is planning to hold a third green energy auction this year for geothermal, pump-storage hydro, run-of-river hydro, and impounding hydro with a combined capacity of 4,399 megawatts (MW).

The Philippines’ installed geothermal energy capacity was 1,952 MW in 2023, making the country the third biggest geothermal producer.

As of July, 35 geothermal service contracts are being monitored by the DoE. Among these, 20 are in the pre-development stage and 15 are in the development or commercial stage.

Separately, the DoE added that it is planning to establish an independent nuclear regulatory authority that will oversee the safe and secure development of the nuclear energy program.

“The independent nuclear regulatory commission is expected to be fully operational by 2026 including the determination of the government’s role in policy and/or legislation,” the DoE said in its Philippine Nuclear Energy Program 2024-2050 unveiled on Wednesday.

The accompanying laws on the nuclear legal and regulatory framework are targeted to be in place by 2025, followed by the implementing rules and regulations.

“By 2027, legal framework for the mechanism for power contracting should be established,” the DoE said.

The industry plan seeks to establish safety, security and safeguards and will cover licensing, construction, and operations up to the plant’s decommissioning.

The DoE aims to have commercially  operational nuclear power plants by 2032 with at least 1,200 MW, gradually increasing to 4,800 MW by 2050. — Sheldeen Joy Talavera

Waste-to-energy seen as balancing act between disposal, increased emissions

REUTERS

WASTE-TO-ENERGY (WTE) projects involve trade-offs between disposing of waste and raising emissions levels, though the severity of the Philippines’ energy problems means all technologies must be considered, analysts said.

“Any legislation that seeks to increase the number of technologies which can respond to our energy demand needs to be supported,” Terry L. Ridon, a public investment analyst and convenor of InfraWatch PH, said via Viber.

Mr. Ridon said that allowing waste incineration facilities may “impact the country’s commitments to the Paris climate accord,” and is not consistent with the government policy of not allowing new coal-fired power plants.

“Waste incineration facilities produce significant emissions. This contradicts the policy direction of limiting emissions made by coal-fired power plants,” he said.

Gerry C. Arances, convenor of Power for People Coalition, said that WTE is “the wrong way to address the problem of solid waste.

“It encourages more waste for fuel use while ignoring the urgency of improving waste management and reduction,” he said via Viber.

“Pollution from incineration is also concerning, and would be a step backward in the global fight to curb emissions and improve air quality,” he added.

Pedro H. Maniego, senior policy advisor of Institute for Climate and Sustainable Cities, said that the Philippines needs to harness WTE projects “to address the twin problems of garbage and lack of power supply.”

He noted, however, that ”the emissions and pollutants of WTE plants must conform to global standards and not only the current limits” in Republic Act (RA) 8749 or the Clean Air Act of 1999.

Mr. Maniego said RA 9003 or the Ecological Solid Management Act of 2000 was supposed to solve the garbage problem, but most local government units (LGUs) failed to implement the plans and programs called for under the law.

He added that there were several WTE projects that were able to avail of incentives under the RA 9513 or the Renewable Energy Act of 2008 but “many projects did not go ahead due to the ban on incineration imposed” under RA 8749 and “failure to secure approval from LGUs.”

“Biomass is considered a renewable energy source because its inherent energy comes from the sun, and because it can regrow in a relatively short time. Its net GHG (greenhouse gas) emissions is zero compared to when the biomass are allowed to just decay,” he said.

The Department of Energy (DoE) described waste-to-energy as “an energy system with a process of converting WTE feedstock with various technologies, usually the conversion of non-recyclable waste materials into usable heat, electricity, or fuel through a variety of processes.”

A waste-to-energy bill is among the priority bills identified by the Legislative-Executive Development Advisory Council.

In 2023, Senate Bill No. 2267 or the proposed Waste-to-Energy Act reached the Senate plenary.

The DoE supports the objectives of the proposed law and intends to draft a framework by which WTE technologies may be harnessed for energy while generating revenue.

The DoE cited the need to strengthen and provide legislative structure to attract more investors, addressing both the need to manage disposal of municipal solid waste and add to the available sustainable energy sources.

“The DoE encourages the development of WTE technologies, provided that toxic emissions coming from WTE plants are properly addressed through state-of-the-art emission control and capture technologies with continuous emission monitoring system and ensure compliance to relevant environmental laws, rules and regulations set for the establishment and operation of WTE facilities,” the DoE said. — Sheldeen Joy Talavera

 

This article has been updated to clarify the context in which the source made his remarks.

US grant prepares PHL for CHIPS Act investments

REUTERS

THE PHILIPPINES is among six beneficiaries of a US-funded program to prepare the workforce and the regulatory environment ahead of the overhaul of US electronics supply chains under the CHIPS and Science Act.

Given funding of $13.8 million, Arizona State University (ASU) was chosen by the US to be the implementing partner for the Diversifying Semiconductor Supply Chains project.

“The Philippines is one of six strategic countries selected for this initiative, along with Costa Rica, Mexico, Panama, Indonesia, and Vietnam,” ASU said.

Running for two years, the project aims to improve the business environment, expand the skilled workforce, and refine regulatory frameworks to establish a resilient and diverse global assembly, testing, and packaging (ATP) supply chain in partner countries.

Earlier this year, US Commerce Secretary Gina M. Raimondo, said the US hopes to help the Philippines double its semiconductor ATP facilities.

“The key goal here for us is to support greater sector growth and encourage new semiconductor investments in the Philippines,” US Embassy Deputy Chief of Mission Y. Robert Ewing said.

“ASU programs are designed to expand semiconductor chip ATP operations in partner countries. And the program here has a goal of workforce development and reducing regulations that hinder ATP expansion,” he added.

Part of the program is the ITSI Workforce Accelerator, in which the ASU will give Filipino students the opportunity to obtain credentials in semiconductor packaging, processing, and testing.

“Those certificates and badges are offered not only by ASU but by other US universities as well, such as the University of Illinois, Purdue University, and others,” Jeffrey Goss, principal investigator of the ITSI Program at ASU, said.

“Students will have the opportunity to complete credentials through this. We’ve targeted initially in the Philippines around 6,000 students over the next two years,” he added.

Mr. Goss said ASU will also partner with the semiconductor industry association and Boston Consulting Group to work with policymakers to review industry rules.

“We are also working on an ATP National Playbook. The first draft will be published probably in December,” he said.

“That will outline opportunities and recommendations for policy and regulation reforms or changes in those policies or new policies and incentives to help the Philippines be more competitive in the region to attract investment,” he added.

Earlier this year, the Board of Investments announced a plan to produce 128,000 engineers for the semiconductor industry.

Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo said that the ITSI program will help the Philippines achieve this target.

“This will be in ATP first but eventually we will work on IC design … because we need to shore up first the advantage that we already have in ATP,” he said.

At a separate event, Advanced Manufacturing Workforce Development Alliance (AMDev) Program Chief-of-Party Danilo C. Lachica said the program has so far trained 5,478 individuals.

“That is as of yesterday because we ran a class in the Hermosa Ecozone (Industrial Park). The program’s goal was to train 300 for year 1 and another 1,000 in year 2,” Mr. Lachica said on the sidelines of a forum on Wednesday.

“We were able to grow the training base because of our training partners and their commitment,” he added.

AMDev is a five-year public-private partnership that aims to improve the capacity of the education system to meet changing industry requirements, particularly in Industry 4.0.

It was initiated by the United States Agency for International Development (USAID) and Unilab Foundation in 2022.

By the fifth year, the AMDev program is targeting to onboard 11,000 trainees.

Mr. Lachica said that the program also exceeded its year 2 targets in terms of advanced manufacturing institutes.

“That’s the goal over five years, and we are finishing our second year in September. So, we have three more years to go … and we are making good progress,” he said.

So far, the program has a network of four advanced manufacturing institutes, double the program’s second-year target of two such facilities. — Justine Irish D. Tabile

2024 decline in electronics exports could be single-digit only — SEIPI

REUTERS

EXPORTS of semiconductors and electronics could contract less than 10% this year, better than expected, as the industry’s inventory correction runs its course, an industry group said. 

Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) President Danilo C. Lachica said the association “had projected a 10% contraction, but there is a possibility, and I am seeing a glimpses” the contraction could moderate, Mr. Lachica told reporters on the sidelines of the 2nd Advanced Manufacturing Workforce Development Alliance Stakeholder Forum on Wednesday.

He said that the contraction could be smaller than expected due to improving demand.

“The two main reasons for the contraction are inventory correction and our product mix in the Philippines,” he said, noting that the industry is making progress in adjusting inventory levels.

He said however that officially, the 10% contraction forecast remains unchanged.

Electronic products remained the top Philippine export in the first seven months, totaling $23.88 billion. This was 2.5% ahead of the year-earlier pace.

In 2023, the Philippines exported $41.91 billion worth of electronic products. A 10% decline this year equates to an export total of around $37.72 billion.

Mr. Lachica said that the Philippines is somewhat disadvantaged in terms of product mix because some companies are not as aggressive in switching to new products and technologies due to the incentives rationalization carried out by the previous government.

Mr. Lachica has lobbied for the restoration of the 5% gross income earned (GIE) incentive that locators of the Philippine Economic Zone Authority used to enjoy before the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act took effect.

The 5% GIE was paid in lieu of all national and local taxes.

Meanwhile, the Senate adopted and ratified a bicameral conference committee report on a bill that seeks to amend the CREATE Act, which the President is expected to sign soon. — Justine Irish D. Tabile

Bangko Sentral says gold sales triggered by favorable prices

ZLATAKY CZ-UNSPLASH

THE central bank said its gold sales took advantage of favorable prices and were consistent with its strategy for managing its reserves.

In a statement late Tuesday, the Bangko Sentral ng Pilipinas (BSP) said the first-half sales are “part of its active management strategy of the country’s gold reserves, which form part of the country’s gross international reserves (GIR).”

The central bank said it “took advantage of the higher prices of gold in the market and generated additional income without compromising the primary objectives for holding gold, which are insurance and safety.”

BSP Governor Eli M. Remolona, Jr. told reporters separately that the bank was pursuing a defined investment strategy.

Mr. Remolona also noted that the proportion of gold to the GIR is around 9%.

The BSP reported that GIR stood at $107.9 billion at the end of August. The BSP said that its dollar reserves have remained “robust” even with the gold sales.

Reserves in the form of gold were valued at $10.22 billion at the end of August, the BSP reported.

“The GIR level provides adequate external liquidity buffer and is equivalent to 7.8 months’ worth of imports of goods and payments of services and primary income,” the BSP said.

“It also represents about 6.0 times the country’s short-term external debt based on original maturity and 3.8 times based on residual maturity.”

The central bank reported that at the end of 2023, the bulk of the Philippines’ reserves was held in foreign investments (84.7%), followed by gold (10.2%).

Last year, gold purchases rose 26% to 298,203.4 troy ounces.

Meanwhile, good delivery bar (GDB) production increased 11.4% last year.

The BSP produced 737 GDBs, with an average gold assay of 99.6%. — Luisa Maria Jacinta C. Jocson

Xanadu Agri touts improved yields with its liquid fertilizer

DA.GOV.PH

XANADU Agriproducts, Inc. said its liquid fertilizer promises improved yields for rice and corn farmers at reduced cost.

“(Our product is) cost efficient and produces healthier and more profitable harvests,” Xanadu Agriproducts Executive Director Hazel R. Loreto-Murphee told reporters on Wednesday.

Xanadu Agriproducts is the exclusive importer of the liquid fertilizer, which is made in Thailand. It has a partnership with UNAHCO, Inc., the animal nutrition and healthcare subsidiary of United Laboratories, Inc., as the national distributor.

“The past seven years were spent ensuring we can confidently introduce Xanadu Maxpower Liquid Fertilizers to the market, with data speaking for itself,” Xanadu Agriproducts Chairman and President Wellington C. Soong said.

According to the company’s field trials, farmers have reported higher average rice and corn yields per hectare. Maxpower also has applications for onion and sugarcane cultivation.

“We have seen this consistently in our data that Xanadu can lower farming costs… even if the cost of other fertilizers goes down, (Maxpower) is still more cost efficient,” Ms. Loreto-Murphee added.

According to the Fertilizer and Pesticide Authority, the average price for granular Urea was P1,652.86 per 50-kilogram bag.

Xanadu said in its field trials, a rice farm in Oriental Mindoro achieved a yield of 7.75 metric tons (MT) per hectare, more than double the yield of the farm serving as the control, which did not use Maxpower.

Corn trials were also conducted at a farm in Sultan Kudarat which achieved a yield of 6.73 MT per hectare against the 2.35 MT for the control crop.

Palay or unmilled rice production is expected to drop 11.4% during the third quarter to 3.36 million MT, according to the Philippine Statistics Authority.

On the other hand, corn production was expected to increase 2.4% to 2.52 million MT during the three months to September. — Adrian H. Halili

Bangsamoro tax collection plan being drafted

PHILSTAR FILE PHOTO

THE Department of Finance (DoF) said it and the Bangsamoro Government have started drafting the region’s tax administration plan to help the latter improve its revenue generation.

In its Sept. 3 meeting, the Intergovernmental Fiscal Policy Board (IFPB) approved the creation of an Operational Working Group to lead the drafting of the Tax Administration Transition Plan.

This plan aims to ensure efficient tax collection system for Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), which would be necessary to generate funds for the region’s growth and development projects.

Under Republic Act No. 11054 or the Bangsamoro Organic Law, BARMM enjoys fiscal autonomy and is empowered to generate its own revenue.

“BARMM holds a unique advantage by building a comprehensive digital system as they are starting from scratch. They can learn and skip all the mistakes that the National Government encountered. They can go straight to digital,” Finance Secretary Ralph G. Recto was quoted as saying.

The IFPB is co-chaired by Mr. Recto and Bangsamoro Minister of Finance, Budget and Management Ubaida C. Pacasem.

The DoF’s Revenue Operations Group, which heads the tax study group for the BARMM, is leading the discussions on the Tax Administration Transition Plan, it said.

The plan covers the transition of tax administration functions from the Bureau of Internal Revenue (BIR) to the Bangsamoro Revenue Office. It also includes the sharing of the BIR’s registration and other systems.

To date, the group reported that it has completed 80% of its deliverables under RA 11054, the DoF said.

This includes the creation of guidelines on the share of the Bangsamoro Government in national taxes, fees and charges collected in the BARMM; and the implementing rules and regulations on the payment of national internal revenue taxes by corporations, partnerships or firms. — Beatriz Marie D. Cruz

Lessons from the 2024 PwC MAP Philippine CEO Survey

Each year, our firm carries out a survey targeting Philippine CEOs to prepare for the Management Association of the Philippines’ (MAP) annual International CEO Conference. With this year’s theme being Business in Five Movements: Wisdom, Passion, and Inspiration Across Five Generations, we gathered insights from 168 CEOs worldwide on business threats, leadership transitions, and workforce composition.

This year showed a marked improvement in optimism, with 86% of CEOs expressing confidence in their industry’s outlook for the next 12 months and 85% anticipating revenue growth for their companies within the same period. This surge in optimism is largely fueled by our country’s economic growth. Globally, we experienced a sluggish start due to lingering effects from the Russia-Ukraine conflict and China’s real estate crisis. Additionally, economies like the US were bracing for a potential recession driven by high interest rates and volatile market conditions. In contrast, our economy expanded 6.3% in the second quarter. This puts us on track to meet the government’s target of 6-7% growth. Our expected annual growth rate outpaces global GDP, which is expected to remain flat at 3.2% in 2024 and 2025.

While CEOs are generally optimistic about their business prospects, our survey revealed several concerns that need attention. Geopolitical uncertainty is a significant worry for many of them. Only 25% have a succession plan for all senior executives, and nearly half have not communicated their succession plan to the next generation of senior leaders. Over 50% of CEOs also reported not maintaining a shareholders’ agreement or a dividend policy, and almost 50% lack emergency and contingency procedures. Last, most CEOs find managing a multigenerational workforce in today’s environment to be challenging.

LESSON 1: DIVERSIFIED PRODUCTS AND MARKETS
When asked about the main concern that keeps them up at night, CEOs identified geopolitical uncertainty as the leading threat. Although we were not directly affected by the ongoing conflicts between Russia and Ukraine and Israel and Hamas and Hezbollah, businesses experienced significant impact due to disruptions in supply chains, fluctuating fuel prices, and revenue losses. The continuous crises since the pandemic have demonstrated that global issues can also affect purely domestic businesses. Focusing solely on local markets is no longer viable. To mitigate potential threats, businesses should consider diversifying both their supplier and client bases to avoid dependency on specific markets.

LESSON 2: TRANSPARENT SUCCESSION PLANNING
Our survey also shows that nearly half of the respondents intend to make changes in their senior leadership within the next three to five years. However, only 25% have a comprehensive succession plan for all senior executives, and just 52% have communicated these plans to their future leaders. This is concerning because succession planning involves more than just choosing the next leader — it’s about developing a pipeline of talent throughout the organization. The lack of transparency can impede the growth of potential successors, causing them to miss out on crucial opportunities to prepare for future roles. Open communication fosters confidence, clarifies expectations, and ensures smooth transitions. By prioritizing transparency, organizations can cultivate a more prepared and engaged next generation of leaders, thereby strengthening their leadership pipeline.

LESSON 3: ROBUST GOVERNANCE STRUCTURES
While 61% of our respondents are from large corporations, over half reported lacking a shareholders’ agreement and dividend policy, and nearly 50% have no emergency and contingency procedures. In our country, many businesses start as family-run or entrepreneur-driven ventures and are not initially managed with professional structures. Over time, these businesses expand, but some outdated practices, such as the absence of formal documentation, persists. Today, businesses of all sizes should recognize the importance of maintaining proper structures and policies.  A shareholders’ agreement is crucial as it outlines the management, operation, and control of the business. More importantly, it addresses the rights of both minority and majority shareholders. Likewise, having emergency and contingency procedures is essential given the increased vulnerability of businesses to various threats in recent years.

LESSON 4: VALUE EACH GENERATION
CEOs have identified the main challenges of managing a multigenerational workforce as stemming from the differences in management styles, communication approaches, and work-life balance expectations. Currently, many organizations employ professionals from Generation X, Millennials, and Generation Z. Each of these generations has distinct priorities: Gen X values control over their work and development opportunities; Millennials prioritize flexibility, appreciation, and teamwork; and Gen Z emphasizes mental health and work-life balance. To effectively manage today’s diverse teams, business leaders need to reassess their organizational strategies and adapt their practices to accommodate these varying dynamics. Despite these differences, it’s essential to recognize that each generation contributes uniquely to the organization. Senior members should appreciate the fresh ideas and energy from Millennials and Gen Z, while the younger generation should respect the wisdom and experience that Gen X leaders have accumulated over the years.

TRANSFORMATIONAL LEADERSHIP
Managing a business in today’s environment has never been more challenging. We are constantly confronted with rapid technological advancements, geopolitical issues, healthcare crisis, and climate change. Given these circumstances, organizations require transformational leaders who can understand the changes that need to be made and are able to guide their organizations through the implementation process. The era of transactional leaders, who concentrate solely on achieving limited goals through performance management, is behind us. Instead, we need transformational leaders who can reimagine their organizations and effectively lead their teams on this journey.

 

Karen Patricia Rogacion is a partner with the Deals and Corporate Finance group of Isla Lipana & Co., the Philippine member firm of the PwC global network.

karen.patricia.rogacion@pwc.com

Caitlin Clark and Fever facing must-win Game 2 against Sun

CAITLIN CLARK — REUTERS

CAITLIN CLARK’S WNBA career started with a lopsided loss against the Connecticut Sun. After taking her lumps early on, she helped rally the woebegone Indiana Fever to their first playoff berth since 2016, winning Rookie of the Year along the way.

On Sunday, Clark’s WNBA postseason career started in a familiar way: a big loss against the Sun. Clark and the Fever will try to extend their season by winning Game 2 of a first-round series on Wednesday in Uncasville, Conn.

If the third-seeded Sun win again, they’ll complete a 2-0 sweep and sail into the semifinals. Should sixth-seeded Indiana get even, the winner-take-all Game 3 will be played Friday in Indianapolis.

The Sun and coach Stephanie White, who previously coached Indiana, worked their plan to perfection in Sunday’s 93-69 win. Connecticut shot 49.3% and facilitated the offense through point forward Alyssa Thomas, who notched the fourth playoff triple-double of her career (12 points, 10 rebounds, 13 assists), extending her own record.

At the other end, DeWanna Bonner was Clark’s primary defender and kept her off the mark all night. Clark scored 11 points and had eight assists in her playoff debut, but she shot 4-for-17 overall and 2-for-13 from beyond the 3-point arc.

“My shot felt right there,” Clark told reporters afterward. “That’s why it’s so frustrating as a shooter, when it feels so good, but it won’t go down for you. That’s what sucks about it.”

The Fever will have to find a way to get Clark open looks away from Bonner or DiJonai Carrington, who poked Clark in the eye in the opening minutes of Game 1 in an apparent accident.

“(It) feels good. It looks OK, too, so I’m glad,” Clark told reporters Tuesday.

But Indiana also has to improve defensively. The Fever allowed 92, 88 and 89 points in their three regular-season losses to Connecticut and 80 on Aug. 28 in their only win over the Sun.

“Us 12 should be aggressive to start the game,” said Fever leading scorer Kelsey Mitchell (21 points on Sunday). “Great players are gonna make tough shots, but I think that we could be better in those areas of just mucking it up and making it a little bit uglier when they do take tough shots… That’s our big step, to make them take tough shots all game.”

Marina Mabrey, Connecticut’s key midseason acquisition, poured in 27 points, the most by a player off the bench in WNBA playoff history.

She provided a crucial boost for the Sun in place of starting guard Tyasha Harris, who went down with an ankle injury four minutes into the game. White told reporters Tuesday that Harris is “day-to-day.”

“She was huge for us, and she’s going to continue to be huge for us,” White said of Mabrey. “The opportunity for us to bring her on was one we took because we thought she could get us over the hump.” — Reuters

Trinidad secures third place at 2024 World Cable Wakeboard and Wakeskate Championships

RAPH TRINIDAD

FILIPINO wakeboarding prodigy and Red Bull athlete Raph Trinidad has continued to make waves in the international wakeboarding scene, securing third place at the 2024 IWWF World Cable Wakeboard and Wakeskate Championships. Mr. Trinidad competed against top wakeboarding riders from around the world, earning a 66.00 total score and winning himself another medal.

The 2024 IWWF World Cable Wakeboard & Wakeskate Championships was held on Sept. 16 to 22 at Le Kable, Choisy le Roi in Paris. This was among the qualifying events for riders to secure limited spots to compete in The World Games 2025, which is set to take place in Chengdu, China.

Reflecting on his achievement, the 22-year-old wakeboarding prodigy said, “I am over the moon to be on the podium for the third time in a row.” In 2022, he bagged a silver medal at the IWWF Wakeboard and Wakeskate Championships in Singhwa, and another silver three years prior at the championships in Argentina. Mr. Trinidad added, “I am super happy to represent the Philippines once again and come home with a medal.”

“When I saw that all my competitors were giving it their best, I knew it was game time,” said Mr. Trinidad of his competitors’ performance. “I took a deep breath in, looked at the course, and gave everything I got.”

The Filipino wakeboard rider credits his podium finish to his relentless training. He said, “In the weeks leading up to the event, I was really trying to focus on consistency in all my tricks because I think this is what gives you the most advantage when it comes to competitions.” He also talked about his dedication to the sport while maintaining a balance between training and his personal life saying, “Wakeboarding has helped me learn so much about life in terms of discipline, determination and never giving up. I believe this is one of the reasons why I never felt like it was hard to balance personal time and training time out in the water.”

In a competition as tough as the IWWF World Cable and Wakeskate Championships, Mr. Trinidad explained that it was important for him to take a moment to breathe. “During those critical moments when all the pressure was at its peak, I did my best to keep myself calm with some breathing exercises and focusing on myself and my run.”

Asked about what kept him going, Mr. Trinidad shared, “My family, my girlfriend, my love for wakeboarding, the Philippine wakeboarding community, and the entire wakeboarding community around the world.”

His latest win marks a significant milestone in Mr. Trinidad’s wakeboarding career, setting the stage for even greater achievements. “This win for me serves as my drive to continue training and keep pushing myself to be the best that I can be out on the water.”

As for his future goals, Mr. Trinidad teased, “I am looking forward to my upcoming competitions next year because I will be ready.”

Hall of Fame QB Brett Favre says he has Parkinson’s Disease

NEW YORK — Hall of Fame quarterback (QB)Brett Favre said during a US congressional hearing on Tuesday that he has been diagnosed with Parkinson’s Disease.

Once one of the brightest stars in the National Football League, Favre, 54, played 20 seasons in the NFL and spent most of his career with the Green Bay Packers, with whom he won the Super Bowl in 1997.

Favre said at the hearing on welfare accountability that he lost his investment in a company he believed was developing a breakthrough concussion drug.

“While it’s too late for me — because I’ve recently been diagnosed with Parkinson’s — this is also a cause dear to my heart,” he said.

The 11-times Pro Bowler previously said that he believed he suffered potentially thousands of concussions during his football career. Favre, who has two daughters, said that if he had a son he would discourage him from playing the sport.

Beginning in 2011, thousands of former players sued the NFL claiming ongoing debilitating effects from head injuries. The league later settled for an estimated $1 billion and overhauled its concussion protocols, while outlawing some of the game’s more violent hits.

Favre appeared at the US House panel after he became one of several defendants named in a civil suit by Mississippi’s Department of Human Services in 2022.

The suit alleged the misuse of welfare funds earmarked for the state’s neediest families, known as TANF funds. He has never been accused of crimes related to the funds and he said on Tuesday that he was innocent of wrongdoing.

“Certain government officials in Mississippi failed to protect federal TANF funds from fraud and abuse and are unjustifiably trying to blame me,” said Favre.

“Those challenges have hurt my good name and are worse than anything I’ve faced in football.” — Reuters

Milan will not host 2027 men’s Champions League final; bidding process reopened

PARIS — The 2027 men’s Champions League final will not be played in Milan amid uncertainties over the future of the San Siro stadium, European football’s governing body UEFA said on Tuesday.

“As the Municipality of Milano could not guarantee that the San Siro stadium and its surroundings would not be affected by refurbishment works in the period of the 2027 UEFA Champions League final, it was decided not to assign the final to Milan,” UEFA said in a statement.

UEFA added it was reopening “the bidding process to appoint a suitable venue, with a decision expected in May/June 2025”.

The 2026 final will be held in Budapest.

Budapest and Milan were the only candidates for the 2026 and 2027 finals. — Reuters

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