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Energy tie-ups with US eyed

STOCK PHOTO | Image by Markus Distelrath from Pixabay

UNITED STATES Undersecretary for Economic Growth, Energy and the Environment Jose W. Fernandez and Philippine Energy Secretary Raphael M. Lotilla vowed on Tuesday to explore US-Philippine partnerships for renewable energy (RE) and nuclear energy ventures.

“(I had an) important discussion yesterday in Manila with Secretary Raphael Lotilla and partners from the Department of Energy (DoE) on increasing cooperation on renewable energy and civil nuclear power to bring more abundant, cleaner energy sources to the Filipino people,” Mr. Fernandez said in an X post on Wednesday.

In a separate statement, Mr. Lotilla said the two focused the US cooperating with the Philippines on energy security and semiconductor manufacturing.

The two officials had also discussed the possibility of more scholarships for Filipinos in the US, and foreign partnerships to boost the Philippine energy infrastructure.

Mr. Fernandez on Tuesday met with Finance Secretary Ralph G. Recto to discuss US-Philippine tie-ups in critical minerals, semiconductors and energy security.

Mr. Recto had proposed a free trade agreement with the US in a separate meeting.

In November, the US Department of State said it would collaborate with the Philippines in exploring ways on growing the global semiconductor industry under the CHIPS Act of 2022, a US law that provided funding to boost its local manufacturing and research of semiconductors. — John Victor D. Ordoñez

Cebu waste facility starts operation

REUTERS

PRIME Integrated Waste Solutions, Inc. (PWS), a subsidiary of the Enrique Razon-led Prime Infrastructure Capital, Inc. (Prime Infra), has inaugurated its automated materials recovery facility (MRF) in Cebu for proper waste management.

“We acknowledge the importance of responsible waste management in safeguarding our environment and the well-being of future generations. We recognize that every single one of you is a steward for a new way forward in the Philippines,” PWS Chair Katrina Maria S. Razon said in an e-mailed statement on Wednesday.

PWS said the facility was established due to the increasing demand for proper waste management and resource recovery solutions. It seeks to convert recovered resources into sustainable fuels.

Equipment such as vibrating sieves, baler systems, magnetic separators, and air density separator was procured from Europe and Asia, the company said

“I need not tell you how groundbreaking this is because this is in fact the first in the country,” Environment Secretary Ma. Antonia Yulo-Loyzaga was quoted as saying.

“The first thing we need to do in this country is regard the solid waste management sector as an industry and for that, it needs to realize the efficiencies according to scale,” she added.

“I’ve been [telling] the Razon Group and company that I want to be here for the first time,” Cebu City Mayor Michael Rama said.

Cara Peralta, Prime Infra’s market sector leader for waste, said that the MRF will enable them to sort, segregate, and process waste not just for their own sites, but also for cities or areas that lack proper waste disposal facilities.

“Our goal is to further enhance our process flow and to essentially go back to our original objective of turning waste into sustainable fuels to further reduce methane emissions and for our country to be able to provide sustain sustainable fuels to the global market,” she said. — Sheldeen Joy Talavera

Consumers group provides platform to air electricity woes in provinces

BW FILE PHOTO

A NEWLY launched energy consumer group ILAW seeks to bridge the gap on the calls of provinces for electricity needs to local government agencies.

“We’re doing testimonial gatherings from the ground as a grassroot organization and we’re mobilizing people, local chapters of ILAW to [learn] their situation and from there maybe forward it to established partnerships with government agencies and government stakeholders,” ILAW youth national convenor Francine Pradez said at an event launch on Wednesday.

Ms. Pradez said that it has a “grassroots” chapter in Davao and is looking into expanding in Visayas and other parts of Mindanao, as well as tying up with the Palawan Consumer Coalition.

“We’re looking to cement further, have local chapters so that from there, there would be representatives from the provinces about the status of their communities, as well as to have local initiatives geared towards consumer awareness,” she said partly in Filipino.

The youth convenor said that the group seeks to focus first on building partnerships and alliances and to engage private organizations and entities on focus group discussions to hear out the side of the consumers.

“ILAW wants to be a platform so that our consumers can have voices…to promote change that they aspire for the Philippines and to be a brave and safe space to encourage other Filipinos to thrive for fair and affordable electricity service,” Ms. Pradez said. — Sheldeen Joy Talavera

BARMM lawmakers bat for more cell sites in Cotabato

BW FILE PHOTO

COTABATO CITY — Officials are working on encouraging telecommunications companies or telcos to build more transmission facilities in the 63 Bangsamoro barangays in Cotabato province to hasten residents’ connectivity to government services and trading centers.

To get things moving, Bangsamoro parliament members — lawyers Paisalin P. Tago and Suharto M. Ambolodto, and physician-ophthalmologist Kadil M. Sinolinding, Jr. — are discussing the co-authorship of a resolution urging state and private telecommunication providers to install cell sites in the 63 barangays.

“It is a pro-peace, pro-development concern. We don’t have any problem pooling our voices together to request telecommunication firms to put up more of such facilities in these 63 barangays,” said Mr. Ambolodto.

Mr. Sinolinding also stressed the need for cell sites to enhance health services, emergency response operations, and attract external investors for viable agricultural projects.

For his part, Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Labor Minister Muslimin G. Sema, who also chairs the Moro National Liberation Front (MNLF), affirmed their readiness to assist security forces in safeguarding cell sites in the villages where their camps are located.

Mr. Sinolinding cited the importance of telecommunications in boosting collaboration among local government units, police, and military in maintaining peace in the Special Geographic Area (SGA) comprising the scattered barangays, recognized as “peace zones” by the national government. — John Felix M. Unson

Strong 2023 GDP growth pushes PHL stocks up

COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.

SHARES climbed on Wednesday as the Philippines posted robust gross domestic product (GDP) growth last year, even as it fell below the government’s target and slowed from the 2022 level.

The 30-member Philippine Stock Exchange index (PSEi) rose by 24.43 points or 0.36% to close at 6,646.44 on Wednesday, while the broader all shares index gained by 11.78 points or 0.33% to finish at 3,499.49.

“The local index rose on the back of the country’s full-year 2023 GDP print of 5.6%, which signaled that the economy remains strong,” China Bank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.

“Although this was below the government’s target of at least 6%, the market viewed the data positively as it was not only above the median estimate of many economists, but it also showed that the Philippines was the fastest growing economy among ASEAN (Association of Southeast Asian Nations) countries that have published their respective GDP data to date,” he added.

Philippine GDP grew by 5.6% in 2023, falling short of the government’s 6-7% full-year target, the Philippine Statistics Authority reported on Wednesday. This was slower than the 7.6% expansion in 2022, but was a tad higher than the 5.5% median estimate of 20 economists in a BusinessWorld poll last week.

In the fourth quarter alone, the economy grew by 5.6%. This was below the revised 6% in the third quarter and 7.1% in the same quarter in 2022.

“Meanwhile, the IMF (International Monetary Fund) upgraded its outlook of the Philippines for 2024. On the back of robust recovery in investments and exports, the IMF sees the Philippines growing by 6% this year from the previous 5.9% forecast,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

The IMF’s forecast is below the government’s 6.5-7.5% GDP growth target for this year.

“According to the multilateral lender, the risks to monitor are China’s weak recovery, abrupt global economic slowdown, and sudden tightening in financial conditions,” Mr. Limlingan added.

Majority of sectoral indices ended higher on Wednesday. Property climbed by 55.14 points or 1.92% to 2,921.49; services went up by 14.23 points or 0.88% to 1,618.29; financials increased by 14.16 points or 0.75% to 1,885.75; and mining and oil rose by 5.45 points or 0.05% to 9,247.39.

Meanwhile, holding firms fell by 40.37 points or 0.63% to 6,329.07; and industrials went down by 55.66 points or 0.62% to 8,919.98.

Value turnover increased to P6.76 billion on Wednesday with 423.55 million issues changing hands from the P4.48 billion with 550.64 million shares traded the previous day.

Advancers outnumbered decliners, 99 to 78, while 55 names closed unchanged.

Net foreign buying stood at P256.1 million on Wednesday versus the P566.33 million in net selling recorded on Tuesday. — R.M.D. Ochave

Peso rebounds after PHL GDP report

BW FILE PHOTO

THE PESO rebounded against the dollar on Wednesday following data showing better-than-expected Philippine gross domestic product (GDP) growth last year.

The local unit closed at P56.275 per dollar on Wednesday, strengthening by 12.6 centavos from its P56.401 finish on Tuesday, Bankers Association of the Philippines data showed.

The peso opened Wednesday’s session lower at P56.45 against the dollar. Its intraday best was at P56.27, while its weakest showing was at P56.50 versus the greenback.

Dollars exchanged went down to $1.18 billion on Wednesday from $1.32 billion on Tuesday.

The peso strengthened on Wednesday amid stronger-than-expected GDP growth in 2023, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

“The peso appreciated as the Philippine growth for the fourth quarter mostly came in line within market expectations,” a trader added in an e-mail.

The Philippine economy grew by 5.6% in 2023, slightly faster than the 5.5% median estimate of 20 economists in a BusinessWorld poll.

Still, this fell short of the government’s 6-7% target for the year and was slower than the 7.6% expansion in 2022.

In the fourth quarter alone, GDP also grew by 5.6%, slightly below the 5.7% median forecast in the same BusinessWorld poll.

This was slower than the revised 6% in the third quarter and the 7.1% growth in the same period in 2022.

The peso was also supported by the Bangko Sentral ng Pilipinas’ (BSP) inflation forecast for January, Mr. Ricafort added.

The BSP expects headline inflation to have settled within the 2.8-3.6% range last month.

If realized, this would be slower than 3.9% in December and 8.7% seen in January 2023, and would mark the second straight month that inflation was within the BSP’s 2-4% target.

The Philippine Statistics Authority will release January inflation data on Feb. 6.

For Thursday, the trader said trading will be driven by the result of the US Federal Reserve’s policy meeting.

The trader sees the peso moving between P56.15 and P56.35 per dollar on Thursday, while Mr. Ricafort sees the peso ranging from P56.20 to P56.40. — A.M.C. Sy

Forced transport consolidation unconstitutional, insists Castro

PHILIPPINE STAR/EDD GUMBAN

A CONGRESSMAN asked transportation agencies on Wednesday to consider alternative options for public utility modernization (PUV) operators who cannot consolidate under the government’s transport modernization program, noting that “forced consolidation” is unconstitutional.

“We cannot force franchise consolidation,” Deputy Minority Leader and Party-list Rep. France L. Castro told the House transportation committee. “It is a violation of the Constitution to force a person to join or not to join organizations, cooperatives, or corporations.”

In a Viber message, Ms. Castro noted that forcing PUV operators to consolidate would violate Article 13 of the Constitution.

Rizal Rep. Jose Arturo S. Garcia, Jr. suggested allowing PUV drivers and operators who could apply for an individual loan to purchase modern PUVs.

“Why don’t we give drivers the choice to let them realize that it is difficult to apply for a loan individually, [so they feel the] need to join a cooperative,” Mr. Garcia said, referring to PUV operators who cannot apply for individual loans.

Industry consolidation would help ensure cooperatives or corporations more benefits to their members, according to Transportation Undersecretary Anneli R. Lontoc.

She added that PUV cooperatives or corporations could help in negotiating on the bulk purchase of spare parts and fuel, which would help reduce the cost for drivers and operators.

Consolidated PUV drivers and operators would also be entitled to dividends at the end of the year as well as regular salaries, Ms. Lontoc told congressmen.

Industry consolidation can help address the issue of competition over PUV drivers plying the same routes.

Last month, President Ferdinand R. Marcos, Jr. approved a three-month extension for PUV operators to consolidate, with the new deadline set on April 30 from Jan. 31.

About 76% of PUVs have been consolidated under corporations or cooperatives as of Dec. 31 last year, according to the Land Transportation Franchising and Regulatory Board. — Beatriz Marie D. Cruz

Quiambao to fully blossom after joining Gilas Pilipinas

KEVIN QUIAMBAO —FACEBOOK.COM/STRONGGROUPATHL

COACH Tim Cone expects young gun Kevin Quiambao to blossom fully as he joins Gilas Pilipinas in its four-year journey.

The 22-year-old Mr. Quiambao, the University Athletic Association of the Philippines (UAAP) MVP from champion De La Salle University, is the youngest player and only non-pro who cracked Mr. Cone’s “Gilas 12” roster that he intends to keep intact.

“He will grow through these four years, older, smarter, and that’s the idea of getting a young player like that (for the program),” Mr. Cone said in The Big Story on One News.

Mr. Quiambao’s versatility, the multi-titled mentor shared, is what earned him a spot alongside battle-scarred Gilas veterans June Mar Fajardo, Scottie Thompson, Chris Newsome, Calvin Oftana, CJ Perez, Jamie Malonzo, Dwight Ramos, AJ Edu, Carl Tamayo and Kai Sotto with Justin Brownlee.

“This kid is versatile. He asked me on the phone ‘am I going to play 3 or 4, coach?’ I said Kevin, you’re going to play 1, 2, 3, 4, wherever we have a need you ‘coz you have that versatility in your game and we can use you wherever we need you to be,” he added.

Mr. Quiambao already got his first taste of action for Gilas men last year during the windows for the FIBA World Cup Qualifiers. He played four games and averaged 3.3 points, 1.7 rebounds and 2.0 assists.

Mr. Cone’s newly-formed bunch hits the gym on Feb. 15 — a week before the FIBA Asia Cup Qualifiers’ tip off match against host Chinese Taipei.

Gilas is hoping to have Mr. Brownlee on board by then after skipping basketball activities since his positive doping result in the Asian Games last October.

Samahang Basketbol ng Pilipinas executive director Erika Dy said they expect to hear from the FIBA soon, optimistic the minimum suspension of three months will be retroactively meted, which she calculated should end on Feb. 8.

Aside from Mr. Brownlee, Mr. Cone anticipates Mr. Malonzo to be good to go for the Feb. 22 road gig after sustaining a knee injury in Game 3 of the PBA Commissioner’s Cup semis against San Miguel Beer last Sunday.

“Good news is we have some MRI results and there was no structural damage,” said Mr. Cone of Mr. Malonzo’s situation.

“We’re so relieved. We’re pretty sure it was going to be ACL but the plate showed everything was intact and he could be back within 10 days or so. So he could be available for the (February) window.” — Olmin Leyba

Eala jumps to career-high of 184 in WTA rankings

ALEX EALA —JIMMIE48/WTA

FILIPINA tennis sensation Alex Eala continued to scale the mountains of the elite women’s professional circuit.

On the heels of a breakthrough doubles title in India, Ms. Eala jumped to No. 184 in the Women’s Tennis Association (WTA) list for a new career-high in her young career.

The 18-year-old wunderkind, who was recently named Ms. Tennis by the esteemed Philippine Sportswriters Association in its Annual Awards Night this week, surpassed her previous best at No. 185 to start the season.

She slipped a bit last week at No. 187 before teaming up with Latvian partner Darja Semenistaja to reign supreme in the W50 Pune in India for her first-ever crown in the women’s doubles.

The Filipina-Latvian duo, seeded No. 4 in the tournament, came away with a 7-6 (8), 6-3 win against the top-seeded duo of Naiktha Bains from Great Britain and Fannin Stollar of Hungary.

That made it up for her quarterfinal in the singles event of the same tournament, ironically against her doubles partner in Semenistaja, 7-6(6), 6-0, after also a first-round exit in the qualifying draw of the Australian Open earlier this month.

Ms. Eala, who has four singles titles under her belt, thus moved up 63 notches in the WTA doubles division as well at No. 302 now from No. 365 to start the year.

The lefty ace is staying in India for another stint in the W50 Indore, where she is seeded No. 3 against Kazakhstan’s Zhibek Kulambayeva in the ongoing match as of press time.

Ms. Semenistaja, her previous partner, is the top-seeded player. — John Bryan Ulanday

PHL boxing team wins opening round assignment at Spain tourney

THE four-man Philippine boxing team for the Tokyo Olympics. (From left) Carlo Paalam, Irish Magno, Eumir Felix Marcial and Nesthy Petecio. — NESTHY PETECIO TWITTER PAGE

THE PHILIPPINE boxing team, spearheaded by Tokyo Olympics medalists Carlo Paalam and Nesthy Petecio, is taking all the steps necessary to get to that road leading to this July’s Paris Games where fellow pug and Olympian Eumir Felix Marcial awaits.

And Mr. Paalam, an Olympic silver medalist, was the first to take that path to glory as he hurdled his opening-round assignment in the Boxam Elite Tournament in La Nucia, Spain Tuesday.

It came at the expense of Mexican Miguel Fernando Vega in a 4-1 result that catapulted the proud son of Cagayan de Oro straight to the quarterfinals of the men’s -57-kilogram event.

There, he would battle Cuban Ewart Andres Marin Hernandez, a 4-1 victor over Frenchman Samuel Kistohurry, in this meet that the Filipino boxers are using in their Paris Olympics thrust.

Also in search of it was young and promising Mark Ashley Fajardo, a 19-year-old pug from Cebu who outclassed Yassine Arfa of Belarus, 5-0, in marching to the second round of the men’s 64.5kg class.

He will face off with England’s Cameron McKay.

Ms. Petecio, a Tokyo silver winner like Paalam, for her part, has yet to see action but should come in with all her full might when she tangles with France’s Sthelyne Grosy in the women’s 57kg division.

Also entered were Rogen Ladon (men’s 51kg), Ronald Chavez, Jr. (men’s 71kg), Aira Villegas (women’s 50kg), Riza Pasuit (women’s 60kg) and Hergie Bacyadan (women’s 75kg). — Joey Villar

Gilas PHL women headline Manila Hustle 3×3 at MOA Asia Music Hall

FIBA.COM

SIXTEEN teams, including nine international clubs, will slug it out in the anticipated second season of the Manila Hustle 3×3 this weekend at the SM Mall of Asia (MOA) Music Hall.

Gilas Pilipinas women, Uratex Tibay and Uratex Dream headline the local cast ready to defend turf against teams from Korea, Japan, Thailand, Singapore, Australia and India in the stacked tournament presented by Uratex and Smart.

“We want everybody to be aware of how women’s basketball has developed. We like everyone to see how it has progressed,” said tournament director Peachy Medina, joined by Samahang Basketbol ng Pilipinas  (SBP) executive director Erika Dy and 3×3 program director Eric Altamirano.

Camille Clarin, Mikka Cacho, Monique del Carmen and Tin Cayabyab make up the Gilas women as other national team players suit up for different clubs.

Kaye Pingol, along with Chinese reinforcement Renzhu Li, will lead Uratex Dream as seasoned Gilas campaigner Afril Bernardino and Spanish dazzler Ari Geli spearhead Uratex Tibay with Jhazmin Joson and Katrina Guytingco along with Thai star Supavadee Kunchuan representing Titans.

Other local teams out to give the fancied squads a run for their own money are Discovery Perlas, Bluefire LPG and Army Altama with foreign squads Dinoman Hansol and Unicle of Korea, Tokyo Dime, Owls.EXE and Zoos Tokyo of Japan, Thailand’s Shoot It Dragons, Singapore’s Jumpshot, Australia’s Royals Basketball and Shiv Nadar School of India.

At stake is a grand prize of $3,000 but more than that and the top-level competition, the tourney serves as a golden chance for aspiring players to earn their stripes for a possible national team call-up.

“We wanted to use this tournament to evaluate the players in the pool and this gives us a chance to identify who can play in FIBA Asia Cup 3×3,” said Mr. Altamirano.

“It’s really when stakeholders come up with tournaments like this that contributes to the industry and that really elevates the game,” added SBP’s Ms. Dy. — John Bryan Ulanday

Angelos family to sell Baltimore Orioles to private equity billionaires

JOHN P. ANGELOS agreed to sell the Baltimore Orioles to private equity billionaires David Rubenstein and Mike Arougheti, Puck News reported Tuesday.

The transaction values the Baltimore Orioles at $1.725 billion, according to the report.

Mr. Rubenstein, a Baltimore native, had previously shown interest in buying the Washington Nationals. He and the New York-based Mr. Arougheti are both founders of private equity firms, the Carlyle Group and Ares Management Corp., respectively.

According to Puck News, the group will start off owning roughly a 40 percent stake in the club. When John P. Angelos’ 94-year-old father Peter Angelos dies, Mr. Rubenstein and Mr. Arougheti will buy up the remaining 60 percent. Major League Baseball still must approve the sale. The owners are scheduled to meet next week in Orlando, Florida.

John P. Angelos has been the team’s chair and managing partner since 2020 as his father suffers from dementia.

The Orioles recently finalized a deal with the Maryland Stadium Authority to remain at Camden Yards for the next 15 years, with a path to expand the commitment to 30 years. — Reuters

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