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Wild-card Wozniacki

Caroline Wozniacki headed into the United States Open with an air of confidence that belied her status as a player making a comeback from a long hiatus. She was going to just her third tournament, and first major event, since announcing her return to competitive tennis two months ago. And, for those keen on handicapping title prospects, her first trek to the court in three and a half years — an invitational doubles stint in Wimbledon — could not even be counted. Which meant that all she had going for her was a second-round exit at the Canadian Open earlier this month. Still, she believed in herself, and in her capacity to make an impact in Flushing Meadows.

For all the illogic involved in Wozniacki’s disposition, however, there can be no discounting the result of her latest foray at Arthur Asha Stadium. Considering how she, a wild-card entrant ranked 623rd in the world, managed to upend 11th-seed Petra Kvitova yesterday, there is, in fact, reason to believe her when she says she is “hitting as well as I ever have.” Never mind that comparisons to her peak as World Number One and major champion naturally arise as a result. Forget that she’s a proud mother of two and a mere year removed from picking up a racket in earnest.

In any case, Wozniacki no doubt drew from her experience in forging her latest triumph. She had previously won six of 14 matches against Kvitova, including the last, a three-setter at the WTA Finals in Singapore. It may have been half a decade ago, but it nonetheless appeared to be significant in fueling her self-assurance. As she noted in her post-mortem yesterday, “we knew each other’s game very well. I’m just so happy that I was the one who came out on top today.” Indeed, although for a while there, she seemed to let nerves get the better of her. Leading five to four in the second set, she wasted two match points and allowed her opponent to force a tiebreak. She righted the ship on time, though, taking care of business to advance to the third round in style.

Up next for Wozniacki is 433rd-ranked Jennifer Brady, and another victory looks to be in the cards. Although the latter is likewise in a resurgence after a three-set upset of Magda Linette, she’s heavily favored to advance to the Round of 16 and set a possible meeting with crowd favorite Coco Gauff. Make no mistake. She knows she’s in “a dream come true. If you had asked me three years ago, I would have said I’ll never be back here.” All the same, she’s bent on showing nothing but her best from here on. There are no limits to excellence, and she’s living proof of the tenet.

 

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.

Asiamoney affirms RCBC’s digital dominance with 4-Peat win

For a fourth consecutive year, Rizal Commercial Banking Corporation (RCBC) was named once again the Philippines’ Best Bank for Digital Solutions by Asiamoney for 2023, solidifying its position as the undisputed digital banking trailblazer in the country.

RCBC is recognized for its roster of Innovations with Empathy, an array of digital solutions which champions massive digital transformation and supports the financial inclusion efforts of the government, all whilst cultivating a culture of customer service excellence.

“RCBC isn’t just building sustainable, impactful, and inclusive digital finance solutions, it is also working hard to expand digital access for every Filipino by positioning itself as a strong ally of government efforts to increase financial inclusion; catalyzing digital payment transformations; bringing financial services to unbanked and underserved communities; and reinvigorating innovation,” Asiamoney said in a statement.

“Anytime RCBC reports earnings these days, analysts immediately turn to its digital transaction growth. Indeed, its digital focus is a key reason why RCBC is one of the fastest-growing banks in the Philippines,” Asiamoney added.

Asiamoney hailed RCBC as The Best Bank for Digital Solutions in the Philippines for delivering digital financial services based on a contextual banking strategy that aims to understand the Philippine landscape. Through this, RCBC has effectively implemented pioneering, high-impact, human-centric and demand driven digital financial innovations through RCBC Digital, RCBC DiskarTech, RCBC ATMGo and RCBC Moneybela Barangayan Banking, successfully marked with speed and scale.

“We are delighted with the recognition, and it further inspires us to serve more of our countrymen with our innovative digital solutions. And with our intensified use of data science and artificial intelligence, we continue to be committed to make a difference in the lives of our customers,” RCBC President and CEO Eugene S. Acevedo said.

RCBC’s series of wins come from the success of RCBC Moneybela Barangayan Banking, the country’s first physical-digital or phygital blended banking service. Fusing the warmth of physical banking with the ease of digital, RCBC’s banking experience support agents delivered vital financial services to thousands of rural barangays nationwide. Through MoneyBela, RCBC was able to introduce RCBC DiskarTech to low-income, geographically-disadvantaged communities. This was regarded as the world’s first multi-lingual financial inclusion super app in the vernacular catering to the mass market. The Philippines’ mass market is comprised of approximately 98 percent of the socio-economic class in the country. Financial services such as savings, fund transfers, mobile loads, telemedicine, insurance, and loans are made accessible and convenient to the Filipino mass market.

RCBC also launched ATMGo, the country’s first grassroots-based, bank agnostic, and last mile automated teller machine. ATMGo utilizes mobile point-of-sale devices to dispense financial services in remote and disadvantaged communities at village hotspots like the public markets, sari-sari stores, and public transportation hubs.  RCBC is the only private universal bank to have the most extensive reach covering all provinces in the Philippines even covering the entire Bangsamoro Autonomous Region in Muslim Mindanao, boasting over 1,400 terminals deployed at the end of 2022 and poised to grow to 10,000 units or a projected year-on-year growth of 614%.

ATM Go has been the Philippine government’s trusted digital payment disbursement partner even before and at the onset of the COVID-19 pandemic, which continues until present for the withdrawals of social welfare benefits for Conditional Cash Transfer household recipients under the Pantawid Pamilyang Pilipino Program (4Ps) of the national government. Close to 70% of its transactions are cash withdrawals of Pantawid CCT household beneficiaries done in rural areas. Even conflict-prone communities such as Lake Sebu in South Cotabato are able to enjoy convenient and real-time banking within the comforts of their community.

Through RCBC’s phygital services, it was able to boost bank onboarding in underserved areas by 210%. ATMGo has reached a total of 13,116 barangays or approximately 31% of the 42,000 total barangays nationwide, only six months since the program was launched last November 2022.

“We are incredibly grateful to be recognized once again by Asiamoney for our dedication towards scaling inclusive digital finance, and our determination to make digital banking more accessible and convenient for every Filipino, especially empowering our micro, small and medium enterprises,” said Lito Villanueva, RCBC Executive Vice President and Chief Innovation and Inclusion Officer.

“Prestigious awards such as this validate our constant hard work and efforts in bringing banking to the people. This solidifies our unwavering commitment to providing innovative, socially-sensitive, and tailor-fit digital products and services that are not only cutting-edge, but most importantly, created with our clients’ needs in mind,” Villanueva added.

Despite the challenges posed by the COVID-19 pandemic and the economic impacts of the global health crisis, RCBC emerged as one of the fastest growing banks in the Philippines after it leaped from its 8th position in 2018 to 5th position in 2022 in the list of the country’s biggest banks in terms of assets.

 

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Philippines, Taiwan, Malaysia reject China’s latest South China Sea map

PEXELS-LARA JAMESON

The Philippines, Malaysia and Taiwan have rejected as baseless a map released by China that denotes its claims to sovereignty including in the South China Sea, which Beijing on Thursday said should be viewed rationally and objectively. 

China released the map on Monday of its famous U-shaped line covering about 90% of the South China Sea, a source of many of the disputes in one of the world’s most contested waterways, where more than $3 trillion of trade passes each year. 

The Philippines on Thursday called on China “to act responsibly and abide by its obligations” under international law and a 2016 arbitral ruling that had declared the line had no legal grounds. 

Malaysia said it had filed a diplomatic protest over the map. 

China says the line is based on its historic maps. It was not immediately clear whether the latest map denotes any new claim to territory. 

China’s U-shaped line loops as far as 1,500 km (932 miles) south of its Hainan island and cuts into the exclusive economic zones (EEZs) of Vietnam, the Philippines, Malaysia, Brunei and Indonesia. 

“This latest attempt to legitimize China’s purported sovereignty and jurisdiction over Philippine features and maritime zones has no basis under international law,” the Philippine foreign ministry said.

Its Malaysian counterpart in a statement said the new map holds no binding authority over Malaysia, which “also views the South China Sea as a complex and sensitive matter.”

The map was different to a narrower version submitted by China to the United Nations in 2009 of the South China Sea that included its so-called “nine-dash line.”

The latest map was of a broader geographical area and had a line with 10 dashes that included democratically governed Taiwan, similar to a 1948 map of China. China also published a map with a 10th dash in 2013. 

Asked about the latest map, Taiwan foreign ministry spokesperson Jeff Liu said Taiwan was “absolutely not a part of the People’s Republic of China.”

“No matter how the Chinese government twists its position on Taiwan’s sovereignty, it cannot change the objective fact of our country’s existence,” he told a press briefing. 

China is currently having a “national map awareness publicity week,” state broadcaster China Central Television reported on Tuesday. 

Asked why China had released the latest map with 10 dashes compared to one with nine dashes, Chinese foreign ministry spokesperson Wang Wenbin said Beijing had been unambiguous about its territory.

“China’s position on the South China Sea issue has always been clear. The competent authorities of China regularly update and release various types of standard maps every year,” he told a regular briefing.

“We hope that relevant parties can view this in an objective and rational manner.”

India on Tuesday said it had lodged a strong protest with China over a new map that lays claim to India’s territory, the latest irritant in testy ties between the Asian giants. — Reuters

RLC Residences breaks ground for premium development Le Pont Residences

From left to right: Advanced Foundation Construction Systems Corporation Managing Director Mario Rossi, RLC Residences Vice President for Project Management Engr. Emmanuel Arce, RLC Residences Senior Vice President and Business Unit General Manager John Richard Sotelo, RLC Residences Senior Director, Marketing Head and Chief Integration Officer Karen Cesario, and RLC Residences AVP and Business Development and Design Head Stephanie Anne Go.

Real estate developer RLC Residences officially made a new construction milestone in a groundbreaking ceremony for its premium project Le Pont Residences located in Bridgetowne Destination Estate in Pasig City.

Attended by key executives from the residential division of Robinsons Land, construction partner Advanced Foundation Construction Systems Corporation, and architectural expert W.V. Coscolluela and Associates, the event marks Le Pont Residences Tower 1’s start of construction. Coming from a French phrase that translates to “The Bridge”, the property was officially introduced to the public last January following RLC Residences’ Raise, Live, Connect manifesto.

“We are excited to start constructing Le Pont Residences and see how this development will unfold. This is RLC Residences’ very own development in the premium category that we designed and thought of from the ground up. So, we are thankful to our clients who have chosen Le Pont Residences as their future home investment and we can’t wait to welcome them home here,” shares Chad Sotelo, Senior Vice President and Business Unit General Manager of RLC Residences. 

During the groundbreaking ceremony, Advanced Foundation Construction Systems Corporation Managing Director Mario Rossi shared the technology they will be using in building Le Pont Residences.

“For Le Pont Residences, we will be installing a diaphragm wall which we brought here in the country in 2012 and is present to different premium developments. This specific technology creates a barrier that provides strong soil and hydraulic support to control and protect the surrounding environment against settlement and water drawdown. It provides more protection against earthquakes and other outside forces because it is between 800 mm to 1200 mm thick,” shares Rossi.

Aside from safety, Rossi also pointed out that the technology is also a hallmark construction feature of premier projects – including Le Pont Residences. “Diaphragm walls allow for deeper basements, which means more parking for tenants.  More parking is a modern-day need for premium tenants.”

Artist’s perspective of Le Pont Residences

Designed to bridge future homeowners to their best life, Le Pont Residences offers generously-spaced units ranging from 46 to 380 sqm. This includes bi-level top-floor units with an iconic curved staircase, providing a beautiful centerpiece that elegantly connects both floors. It also has a selection of one-, two-, and three-bedroom units that are carefully crafted and equipped with smart home features to ensure comfort and convenience.

Additionally, the development boasts multi-level, hyper-sized indoor and outdoor amenities spread throughout the podium, mid-level, and uppermost deck floors. Among these are gyms, indoor and outdoor activity areas, swimming pools, private function rooms, a game room, and a work lounge, to name a few.

“In designing Le Pont Residences, we took inspiration from the needs and lifestyle of our market. Because for us to provide a place where they can be their best every day, it’s all about incorporating these things in their future home and be made accessible to them whenever they need it,” says Sotelo.

To learn more about this development, visit rlcresidences.com or follow them on Facebook and Instagram.

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld website. For more information, send an email to online@bworldonline.com.

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India exempts some countries from rice curbs for food security

INDIA has permitted some rice shipments to Mauritius, Bhutan and Singapore for food security purposes. — BLOOMBERG

INDIA has permitted some rice shipments to Mauritius, Bhutan and Singapore for food security purposes after the South Asian nation imposed sweeping export restrictions to control domestic prices.

The world’s top exporter agreed to sell 79,000 tons of non-basmati white rice to Bhutan, 50,000 tons to Singapore and 14,000 tons to Mauritius, according to a commerce ministry notification late Wednesday. India said last month it would allow for exports of the variety if asked to meet the security needs of other countries.

The permission highlights the plight of several nations, which have been relying on India for their rice needs. Guinea has sent its trade minister to New Delhi to convince Prime Minister Narendra Modi’s government to exempt the West African country from the restrictions. Top buyers of Indian rice include Benin, China, Senegal, Côte d’Ivoire and Togo.

Concerns about a global supply squeeze and higher world food prices have increased after the world’s second-biggest producer and consumer tightened its curbs on rice exports. Asian benchmark prices of the grain, a staple diet for billions of people across the world, rebounded this week to trade near a 15-year high reached earlier this month. 

India has restrictions on shipments of all varieties of the grain. It has imposed a 20% tax on parboiled rice exports, set a minimum export price on aromatic basmati and banned shipments of non-basmati white. The country accounts for almost 40% of the global rice trade.

While India’s announcement to sell to Singapore and other countries is in line with its earlier pledge to meet the security needs of other nations, the focus of the government will continue to be on cooling domestic food prices ahead of major festivals in November and an election early next year. — Bloomberg

Japan seeks record defense budget amid tension with China

CHRIS BARBALIS-UNSPLASH

TOKYO — Japan’s defense ministry made a record spending request on Thursday of 7.7 trillion yen ($52.67 billion), for fiscal 2024, the latest step of a plan to boost defense spending by 43 trillion yen over five years.

The request is for the second year of Prime Minister Fumio Kishida’s plan to double defense spending to 2% of gross domestic product by 2027 as it faces up to an increasingly assertive China and unpredictable North Korea.

The request comes as Japan’s relations with China have deteriorated sharply with Japan last week beginning to dump treated radioactive water from its wrecked Fukushima nuclear plant into the sea. China has condemned the release and banned Japanese seafood imports.

The fiscal 2024 request, submitted to the Ministry of Finance, adds almost a trillion yen to the previous year’s budget of 6.8 trillion yen. If approved, the budget will have increased spending by about a trillion yen from the previous year for an unprecedented two consecutive years.

The defense ministry plans to set aside more than 900 billion yen to secure ammunition and weapons, including new ship-to-air missiles, according to the budget request.

Some 600 billion yen will be used to strengthen logistics capabilities to deploy weapons and resources towards southwest island chains in the event of an emergency.

The budget includes funding for three new landing ships, for a total of 17 billion yen, 17 transport helicopters, for more than 300 billion yen, and a new specialized transport team to improve deployment capabilities, the defense ministry said in its request.

Japan will also put 75 billion yen towards jointly developing interceptor missile to counter hypersonic warheads with the United States, and 64 billion yen to creating next-generation fighter jets with Britain and Italy.

The record defense spending by the staunch US ally comes after decades of pacifist policies. The United States in 1947 imposed a constitution on Japan that renounces war.

But concerns over China’s maritime ambitions and military assertiveness, especially over Taiwan, and a belligerent and increasingly well-armed North Korea have shifted thinking, as has Russia’s invasion of Ukraine.

Japanese aggression before and during World War II is still a cause of tension in relations with some countries in Asia and Japan has given assurances its growing military strength will not be used to threaten others.

Japan has said it will still prioritize diplomatic efforts and dialogue to avert misunderstandings. — Reuters

Spain must break ‘pact of silence’ over sexism, equality minister says

A giant Estelada flag (Catalan separatist flag) is seen in Barcelona, Spain Feb. 12, 2021. — REUTERS/ALBERT GEA

MADRID — Spanish society must break a “pact of silence” and stop normalizing sexist behavior and support women brave enough to speak out when it happens, acting Equality Minister Irene Montero said on Wednesday.

Ms. Montero said in an interview with Reuters she hoped the furore created by Spanish Football Association (RFEF) chief Luis Rubiales’ kiss on the mouth of World Cup winner Jenni Hermoso — which she says was non-consensual — will serve as a point of inflection in the fight against sexism in Spain.

Mr. Rubiales is facing a chorus of voices calling for his resignation and has been temporarily suspended by FIFA for his behavior when players were being handed their medals after defeating England in the World Cup final on Aug. 20 in Sydney.

“Spain is a feminist society in which sexism still exists, but it is determined to end sexism,” Ms. Montero said. “We are sending the correct message to the world, that sexism is over.”

Ms. Montero said sport in Spain is structurally sexist and she expressed disappointment that Spain’s male football players have largely stayed silent about the incident while the entire women’s football team has said it will not play while Mr. Rubiales refuses to resign.

“I think it has become evident that feminism is also a task for men,” she said, while acknowledging that support for Ms. Hermoso showed that the majority of Spanish men condemn sexist behavior.

“Perhaps it would have been desirable for this pact of silence to be broken with more force and forcefulness. But I think it has begun to crack and that is a very important step,” she said.

Mr. Rubiales has accused his critics of “false feminism”.

Prosecutors have opened a preliminary investigation into whether Mr. Rubiales might have committed an act of sexual aggression when he grabbed Ms. Hermoso and kissed her on the lips.

However, the case will be closed if Hermoso does not file a formal complaint.

Ms. Hermoso, her teammates and several government officials have said the kiss was unwanted and demeaning.

While Mr. Rubiales, 46, had persistently denied wrongdoing and insisted the kiss — which took place in a globally watched live broadcast — was consensual, his mother Angeles Bejar locked herself inside a church in the family’s home town of Motril on Monday and started a hunger strike in support of her son.

Ms. Bejar was taken to hospital on Wednesday after feeling tired and stressed, a priest, who identified himself as Father Antonio, told reporters without elaborating. The hospital would not confirm if she was admitted.

Mr. Rubiales hasn’t commented on the issue since he was suspended on Saturday. Bejar had said on local TV he had told her to stop the hunger strike.

Gender issues are a prominent topic in Spain. In the past several years, tens of thousands of women have taken part in street marches protesting against sexual abuse and violence.

The left-wing coalition government led by Prime Minister Pedro Sanchez has presided over several legal reforms including around equal pay and abortion rights.

Spain is now under a caretaker government after an inconclusive election in July that was marked by heated debate over women´s rights. Government opponents criticised a sexual violence law that introduced the concept of consent but inadvertently introduced a loophole enabling over 1,000 imprisoned offenders to get their sentences reduced or ended early.

The hard-right Vox party on Wednesday said the Rubiales case was a “political witchhunt” designed to obfuscate the errors committed by the government with the sexual violence law.

“With common sense you can distinguish what is rude or bad manners from what is a crime,” Vox said on X, formerly Twitter.

However, Vox called for Mr. Rubiales to resign, citing behavior incompatible with the presidency of a federation. At the event in Sydney, he also grabbed his crotch in a gesture of celebration while standing next to Queen Letizia.

Ms. Montero welcomed criticism that the government has been slow to act over the Rubiales crisis, saying that in the past it has been reprimanded for moving too fast for society to assimilate changes on women’s rights.

“I have been accused all the time of going too fast,” she said. “I am glad that the view is now that the changes have to go even faster, be even more forceful and go deeper.” — Reuters

Rising caffeine levels spark calls for ban on energy drink sales to children

PHILSTAR FILE PHOTO

PEDIATRICIANS and parents are calling for the US to treat new high-caffeine energy drinks like alcohol and cigarettes and ban their sale to minors as a single serving can contain as much caffeine as six Coca-Colas.

Prime Energy, which launched this year, has 200 mg of caffeine within its 350 ml can — exceeding permissible caffeine levels in Canada, Australia and New Zealand. Rival products like Anheuser Busch InBev-backed Ghost energy drinks and Kim Kardashian’s “Kimade” energy drink also have 200 mg of caffeine. Competitor Monster Energy contains 150 mg of caffeine.

As caffeine content in energy drinks has climbed over the years, some countries and retailers have banned the products while a few require proof of age for purchase. In the US and UK, no national regulations ban the sale of high-caffeine energy drinks.

Without legal age mandates like those on alcohol and cigarettes, retailers are unlikely to restrict access, said Dr. Holly Benjamin, a professor of pediatrics and orthopedic surgery at the University of Chicago. There is no proven safe dose of caffeine for children, according to the American Academy of Child and Adolescent Psychiatry.

“Retailers could choose to place sports drinks and energy drinks in different locations and label the sections differently; but, I think that is unlikely to happen without regulation which starts with better product labeling and widespread education,” Dr. Benjamin said.

She added: “Any energy drink with a high dose caffeine in it, such as Prime Energy, is unsafe for children.”

Side effects for kids consuming caffeine could include rapid or irregular heartbeats, headaches, seizures, shaking, stomach upset and adverse emotional effects on mental health, she said.

The FDA is currently reviewing a request by U.S. Senate Majority Leader Chuck Schumer to investigate the caffeine content in Prime Energy, as well as its marketing to kids, a spokesperson said.

Prime representatives declined to comment. Ghost Energy, Monster Energy didn’t return messages seeking comment. Congo Brands, which owns Kimade, Alani Nu and Prime Energy, also did not respond to requests seeking comment.

The co-founders of Prime, Logan Paul and KSI, both social media influencers, said in August media interviews that they aren’t marketing the drink to kids, adding that retailers should police sales to minors.

COLORFUL CANS CONFUSE PARENTS
The American Medical Association (AMA) supports a ban on the marketing of caffeine drinks to children under the age of 18, according to its policy set in 2013. The AMA also urges the US regulators or lawmakers to mandate “child-resistant packaging” on high-energy drinks.

Kinneret Shick Ohana, a mother of five children from Florida, saw the “bright, colorful cans of Prime” that her children have been buzzing about displayed in front aisles of Walmart when shopping for groceries. Out of excitement, she overlooked the black writing at the bottom of the colored cans that said “energy drink” before bringing it home to her children.

“I got confused because when you first see the can, it’s hard to see where it says energy drink. It took me some time after my son pointed it out to find it,” said Ms. Ohana.

“The energy drink industry is marketing these products that are only supposedly intended for adults to kids and I think Prime is just another example of a company that is pushing these inappropriate drinks on minors,” said Bonnie Patten, executive director of Truth in Advertising (TINA).

Specialty retailer GNC has set an 18+ age limit restriction to purchase energy drinks, according to its customer service line and in-store checks.

Target and Walmart, as well as specialty chains like the Vitamin Shoppe, carry Prime Energy but typically do not verify buyers’ ages, according to Reuters interviews and in-store checks.

“We strongly encourage our customers to follow all labeling instructions for every product sold at the Vitamin Shoppe, including energy drinks,” the Vitamin Shoppe said.

Target didn’t return messages seeking comment. Walmart declined comment.

Drink makers’ labels noting the beverages are “not recommended” for kids creates confusion among retailers on what restrictions, if any, should be set on the sale of energy drinks to children, lawyers said. — Reuters

Renowned global firm designs Megaworld’s P6.5B luxury village in General Trias

No less than Wimberly, Allison, Tong & Goo (WATG) was commissioned to design the property giant’s 22-hectare Maple Grove Park Village.

Property giant Megaworld continues to raise the bar in residential developments by building its sprawling, 22-hectare Maple Grove Park Village as a first-of-its-kind, luxury spa resort-inspired residential community within its expansive Cavite township.

To bring this extraordinary vision to life, Megaworld tapped Wimberly, Allison, Tong & Goo (WATG), experts in integrated luxury hospitality design who are also behind some of the most beautiful resort destinations in the world such as Shangri-La Maldives, Sofitel Bali in Indonesia, and Atlantis, The Palm in Dubai, to design the property.

“Megaworld has collaborated with Wimberly Allison Tong & Goo (WATG), the visionary minds behind some of the most extraordinary resort and wellness destinations in the world to bring this one-of-a-kind premium resort-feel experience to this development. Sitting on a premium, exclusive and expansive location inside the township, Maple Grove Park Village certainly stands out as the choice for discerning clients seeking a respite from the busyness of city life.” Eugene Em Lozano, first vice president for sales and marketing, Megaworld, said.

Living with nature

This highly sought-after residential development is strategically located in a more secluded area of Megaworld’s 140-hectare Maple Grove township to give residents exclusivity and privacy while still giving them access to the rest of the township. Its design is inspired by contemporary tropical architecture that’s perfectly suited for a resort-style residential setting that mirrors the feel and ambiance of luxury spa resorts.

Among the highlights of Maple Grove Park Village are 6 different themed lush parks and communal gardens inspired by spa and wellness landscapes and activities for its future residents.

These include Color Gardens (Chromatherapy) featuring brightly colored trees and alleys filled with flowers; a Garden of Tranquility featuring an enclosed reflection lawn, an open lawn, together with herbs and vegetable plots; Edible Gardens that come with fruit-bearing trees, picnic tables, and play structures; an Aromatherapy Garden with aromatic plants, picnic areas, and yoga and meditation platforms; and Fitness and Activity Gardens that come with a basketball court, outdoor fitness equipment, fitness pods and stations, open lawn areas, picnic shelter, and various play structures.

Maple Grove Park Village’s focus on wellness even extends to the amenities of its Clubhouse. Beyond the entrance walkway garden with floating steps are features such as a floating garden, an aromatic and sensory garden, an al fresco lounge deck, a wellness pool, a Jacuzzi, a fitness gym, a movement studio, a massage room, a steam room, and many more.

“From the materials, the lighting, the colors, each detail of the Village is meticulously designed in a way that from the moment you enter the gates of the Village, you feel relaxed and get to unload your stress,” Lozano said.

Maple Grove Park Village features 377 lots ranging in size from 280 square meters up to more than 500 square meters. Lots will be ready for turnover to owners by 2026, and Megaworld is expected to generate P6.5-billion in sales for this project.

Nearly 40% of the entire village will be allocated to green and open spaces. It will also have an underground cabling system, with provisions for fiber-optic cables.

A modern CBD rises in Cavite

Dubbed “Cavite’s first-ever modern central business district,” Maple Grove also features residential condominiums, office towers, a soon-to-rise lifestyle mall, a transport hub, and its very own McDonald’s store now known as the biggest in Cavite.

The township also boasts a variety of sustainability features, such as a Rainwater Park, which is a two-hectare tree park designed to be a catchment basin for rainwater runoff, a landscape drip irrigation system, bike lanes, pocket gardens and tree parks, as well as vertical gardens in various buildings around the township. There’s also the six-lane Maple Grove Boulevard that traverses the township. It will also have its own chapel, biking and jogging track, and futsal field.

Maple Grove is only about 30 to 45 minutes away from the Makati CBD and Fort Bonifacio, and can be accessed via the Coastal Road and the Manila–Cavite Expressway (CAVITEX). Its strategic location makes it accessible to future road networks and key infrastructure projects, including the LRT-1 Cavite extension, the Sangley Point International Airport, the CAVITEX-CALAX link, Cavite-Tagaytay-Batangas Expressway (CTBEX), and the Bataan-Cavite Interlink Bridge.

 

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Indonesian nickel smelters turn to Philippines for ore as local supply tightens

BW FILE PHOTO

Nickel smelters in top producer Indonesia are making rare purchases of ore from the Philippines to ease tight supplies, people familiar with the matter said, upending trade flows of the raw material and pushing up costs across the supply chain.

Jakarta recently delayed the issuing of mining quotas and suspended operations at a key site of state miner Aneka Tambang (Antam) after an investigation into corrupt practices in issuing mining allowances.

While mining at other sites continues and Indonesia, which accounts for half of global mined supply, has said there is no shortage of ore, prices have risen about 8% this week, following a 10% surge a week earlier, local buyers say.

Some firms are now buying ore from neighbouring Philippines, the world’s No. 2 supplier, in the event that new mining quotas are further delayed, said three smelter managers, two nickel traders and a Chinese analyst.

All declined to be identified because they were not permitted to disclose the trade information publicly.

“(We) started imports from this month. It is economical,” said an official at a major smelter in Indonesia.

The person did not specify how much the smelter is buying but said the purchases are of low-grade limonite ore.

Indonesian miners will prioritize high-grade ore for their limited production quotas, the person added.

Indonesia imported 53,864 metric tons of nickel ore in the first half of 2023, up from 22,503 tons for all of 2022, Indonesian trade data showed.

But imports from the Philippines only started in May, and all arrived at Morowali port in a huge nickel processing park run partly by Chinese nickel giant Tsingshan Group, the Indonesian data showed.

Tsingshan did not respond to a call and email seeking comment.

Volumes in the first half from the Philippines were less than 1,000 tons in nickel content compared to Indonesia’s 1.6 million tons mined last year, data from the Indonesian government and the International Nickel Study Group (INSG) showed.

“The ore from the Philippines is generally lower grade than Indonesian material which will push operating costs higher due to lower production from same tonnage of ore,” said Wood Mackenzie analyst Andrew Mitchell.

“But the ore is cheaper by comparison with domestic ore currently and so this will offset some of the rising costs,” Mitchell said.

Indonesia exported much of its ore before a 2020 ban halted all shipments and attracted billions of dollars worth of investment in nickel smelting, mostly from Chinese companies.

Imports from the Philippines could rise to 100,000 tons for July and August combined because of the supply tightness, according to Chinese consultancy Mysteel.

The Philippines mined 360,000 tons of nickel in ore in 2022, or 11% of global supplies, according to INSG.

Rising demand for ore from the Philippines is also pushing up prices in China, as buyers stock up due to tighter Indonesian supplies and ahead of the rainy season in the Philippines starting in October, said a Chinese trader.

Philippines 1.3% grade ore landed at China’s Lianyun port surged 20.6% in the past month to $41 a ton, the highest since March, Mysteel data showed. — Reuters

Biden approves military aid to Taiwan under program normally used for sovereign states

US PRESIDENT JOSEPH R. BIDEN — WHITEHOUSE.GOV

WASHINGTON – US President Joe Biden‘s administration has approved a military transfer to Taiwan under the Foreign Military Financing, or FMF, program normally used for sovereign states, according to a notification sent to Congress.

The notification, which was seen by Reuters on Wednesday, informs congressional committees of the State Department’s intention to obligate up to $80 million in FMF funds in support of Taiwan.

“FMF will be used to strengthen Taiwan‘s self-defense capabilities through joint and combined defense capability and enhanced maritime domain awareness and maritime security capability,” the notification said.

Taiwan’s defense ministry expressed its thanks, but said it had no comment on the details of the aid, noting that the United States has already been helping strengthen the island’s combat capabilities under existing policies and laws.

The Taiwan notification was first reported by the Associated Press.

Representative Michael McCaul, Republican chairman of the House of Representatives Foreign Affairs Committee, said he was glad the administration was “finally” providing FMF to Taiwan.

“These weapons will not only help Taiwan and protect other democracies in the region, but also strengthen the US deterrence posture and ensure our national security from an increasingly aggressive CCP (Chinese Communist Party),” Mr. McCaul said in a statement.

FMF, the largest military assistance account managed by the State Department, provides primarily grant assistance to foreign governments for the purchase of US defense equipment and military training under the Foreign Military Sales program.

A State Department official confirmed the notification to Congress and said the decision to provide Taiwan with FMF assistance did not reflect any change in US policy.

Beijing claims the democratically governed island as its own territory, and warns against any forms of “official exchanges” between Washington and Taipei. Taiwan rejects China’s sovereignty claims and says only Taiwan‘s people can decide their future.

China has repeatedly complained to the United States about military aid and sales to the island. Its defense ministry has said the US military must stop all forms of “military collusion” with the island.

The United States, Taiwan‘s most important arms supplier, last month announced a Taiwan weapons aid package worth up to $345 million.

Last week, the United States also approved a possible $500 million sale to Taiwan of infrared search and track systems for F-16 fighter jets, as well as other equipment. – Reuters

US curbs AI chip exports from Nvidia to some Middle East countries

FILE PHOTO: The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. REUTERS/Robert Galbraith/File Photo

The US expanded the restriction of exports of sophisticated Nvidia and Advanced Micro Devices artificial-intelligence chips beyond China to other regions including some countries in the Middle East.

Nvidia said in a regulatory filing this week that the curbs, which affect its A100 and H100 chips designed to speed up machine-learning tasks, would not have an “immediate material impact” on its results.

Rival AMD also received an informed letter with similar restrictions, a person familiar with the matter told Reuters, adding that the move has no material impact on its revenue.

US officials usually impose export controls for national security reasons. A similar move announced last year signaled an escalation of the US crackdown on China’s technological capabilities, but it was not immediately clear what risks were posed by exports to the Middle East.

In a separate statement, Nvidia said the new licensing requirement “doesn’t affect a meaningful portion of our revenue. We are working with the US government to address this matter.”

The US Commerce Department, which normally administers new licensing requirements on exports, did not immediately return a request for comment.

Last September AMD said it had received new license requirements that would halt exports of its MI250 artificial-intelligence chips to China.

Nvidia, AMD and Intel have since then all disclosed plans to create less powerful AI chips that can be exported to the Chinese market.

Nvidia, which gave no reason for the new restrictions in the filing dated Aug. 28, last year said US officials informed them the rule “will address the risk that products may be used in, or diverted to, a ‘military end use’ or ‘military end user’ in China.”

Nvidia this week did not specify which countries in the Middle East were affected. The company derived most of its $13.5 billion in sales in its fiscal quarter ended July 30 from the United States, China and Taiwan. About 13.9% of sales came from all other countries combined, and Nvidia does not provide a revenue breakout from the Middle East.

“During the second quarter of fiscal year 2024, the USG (US government) informed us of an additional licensing requirement for a subset of A100 and H100 products destined to certain customers and other regions, including some countries in the Middle East,” Nvidia said in the Aug. 28 filing.

Last year’s announcements came as tensions bubbled over the fate of Taiwan, where chips for Nvidia and almost every other major chip firm are manufactured.

In October 2022, the Biden administration went a step further when it published a sweeping set of export controls, including a measure to cut off China from certain semiconductor chips made anywhere in the world with US equipment. The move vastly expanded Washington’s reach in its bid to slow Beijing’s technological and military advances.

Japan and the Netherlands followed up with similar rules earlier this year.

Without American AI chips from companies like Nvidia and AMD, Chinese organizations will be unable to cost-effectively carry out the kind of advanced computing used for image and speech recognition, among many other tasks.

Image recognition and natural language processing are common in consumer applications like smartphones that can answer queries and tag photos. They also have military uses such as scouring satellite imagery for weapons or bases and filtering digital communications for intelligence-gathering purposes. – Reuters

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