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Pelosi arrives in Taiwan vowing US commitment; China enraged

TAIWAN Foreign Minister Joseph Wu welcomes US House of Representatives Speaker Nancy Pelosi at Taipei Songshan Airport in Taipei, Taiwan, Aug. 2. — TAIWAN MINISTRY OF FOREIGN AFFAIRS/HANDOUT VIA REUTERS

TAIPEI – U.S. House of Representatives Speaker Nancy Pelosi arrived in Taiwan late on Tuesday on a trip she said shows an unwavering American commitment to the Chinese-claimed self-ruled island, but China condemned the highest-level U.S. visit in 25 years as a threat to peace and stability in the Taiwan Strait.

Pelosi and the rest of her delegation disembarked from a U.S. Air Force transport plane at Songshan Airport in downtown Taipei after the nighttime landing on a flight from Malaysia to begin a visit that risks pushing U.S.-Chinese relations to a new low. They were greeted by Taiwan’s foreign minister, Joseph Wu, and Sandra Oudkirk, the top U.S. representative in Taiwan.

Her arrival prompted a furious response from China at a time when international tensions already are elevated by Russia’s invasion of Ukraine. China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.

“Our congressional delegation’s visit to Taiwan honors America’s unwavering commitment to supporting Taiwan’s vibrant democracy,” Pelosi said in a statement shortly after landing. “America’s solidarity with the 23 million people of Taiwan is more important today than ever, as the world faces a choice between autocracy and democracy.”

Pelosi, second in the line of succession to the U.S. presidency, is a long-time China critic.

Taiwan’s President Tsai Ing-wen will meet with Pelosi on Wednesday morning and then have lunch together, the presidential office said. Pelosi, travelling with six other American lawmakers, became the most-senior U.S. political leader to visit Taiwan since 1997.

China’s foreign ministry said it lodged a strong protest with the United States, saying Pelosi’s visit seriously damages peace and stability in the Taiwan Strait, “has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China’s sovereignty and territorial integrity.”

Chinese warplanes buzzed the line dividing the Taiwan Strait before her arrival. The Chinese military has been put on high alert and will launch “targeted military operations” in response to Pelosi’s visit, the defense ministry said.

The Chinese military announced joint air and sea drills near Taiwan starting on Tuesday night and test launches of conventional missiles in the sea east of Taiwan, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday.

Pelosi is on an Asia tour that includes announced visits to Singapore, Malaysia, South Korea and Japan. Her Taiwan visit was unannounced but widely anticipated.

In a Washington Post opinion piece released after landing, Pelosi explained her visit, praising Taiwan’s commitment to democratic government while criticizing China as having dramatically increased tensions with Taiwan in recent years.

“We cannot stand by as the CCP proceeds to threaten Taiwan – and democracy itself,” Pelosi said, referring to the Chinese Communist Party.

Pelosi also cited China’s “brutal crackdown” on political dissent in Hong Kong and its treatment of Muslim Uyghurs and other minorities, which the United States has deemed genocide.

As Pelosi’s motorcade approached her hotel, escorted by police cars with flashing red and blue lights, scores of supporters cheered and ran toward the black vehicles with their arms outstretched and phone cameras on. The motorcade drove straight into the hotel’s parking lot.

On Tuesday night, Taiwan’s tallest building, Taipei 101, lit up with messages including: “Welcome to Taiwan”, “Speaker Pelosi” and “Taiwan (heart) USA”.

WHITE HOUSE REACTS

White House national security spokesman John Kirby said after Pelosi’s arrival that the United States “is not going to be intimidated” by China’s threats or bellicose rhetoric and that there is no reason her visit should precipitate a crisis or conflict.

“We will continue to support Taiwan, defend a free and open Indo-Pacific and seek to maintain communication with Beijing,” Kirby told a later White House briefing, adding that the United States “will not engage in sabre-rattling.”

Kirby said China might engage in “economic coercion” toward Taiwan, adding that the impact on American-Chinese relations will depend on Beijing’s actions in the coming days and weeks.

Pelosi, 82, is a close ally of U.S. President Joe Biden, both being members of the Democratic Party, and has helped guide his legislative agenda through Congress.

Four sources said Pelosi is also scheduled on Wednesday to meet activists outspoken about China’s human rights record.

The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China’s sovereignty claims, saying only the Taiwanese people can decide the island’s future.

Several Chinese warplanes flew close to the median line dividing the Taiwan Strait on Tuesday morning before leaving later in the day, a source told Reuters. Several Chinese warships also sailed near the unofficial dividing line since Monday and remained there, the source said.

Taiwan’s defence ministry said 21 Chinese aircraft entered its air defence identification zone on Tuesday, and that China was attempting to threaten key ports and cities with drills around the island. Taiwan’s armed forces have “reinforced” their alertness level, it added.

Taylor Fravel, a Massachusetts Institute of Technology expert on China’s military, said China’s planned exercises appear as though they may be greater in scope than during a Taiwan Strait crisis in 1995 and 1996.

“Taiwan will face military exercises and missile tests from its north, south, east and west. This is unprecedented,” Fravel said.

Four U.S. warships, including the aircraft carrier USS Ronald Reagan, were positioned in waters east of Taiwan on what the U.S. Navy called routine deployments.

Russia, locked in confrontation with the West over its Ukraine invasion, condemned Pelosi’s visit. Foreign ministry spokeswoman Maria Zakharova called the United States “a state provocateur.” — Reuters

Higher rates won’t kill growth — BSP

BW FILE PHOTO

THE BANGKO Sentral ng Pilipinas (BSP) has room to further hike interest rates without “killing” economic recovery, according to its governor.

“Our policy rates are still accommodative. The policy rate as it goes up is not even keeping up with the inflation rate. As the inflation rate goes down, the real policy rate becomes less negative,” BSP Governor Felipe M. Medalla said during a Financial Executives Institute of the Philippines membership meeting on Tuesday.

“The policy rate is still negative in real terms. So, we can afford to step on the brakes without killing our nascent economic growth,” he added.

The economy expanded by a stronger-than-expected 8.3% in the first quarter. Economic managers are targeting 6.5-7.5% gross domestic product (GDP) growth this year.

Mr. Medalla said the central bank can continue to support the economy even with the planned policy rate hike of 25 or 50 basis points (bps) at its next meeting on Aug. 18.

“We’re still providing support for the recovery even with the increase in August and maybe with the rest of the year,” he said.

The Monetary Board last month raised the benchmark interest rates by 75 bps in an off-cycle move, as it sought to contain broadening inflationary pressures. It has raised rates by 125 bps since May.

The reverse repurchase facility rate is currently at 3.25%, while the rates on the BSP’s overnight deposit and lending facilities are at 2.75% and 3.75%, respectively.

In an ambush interview with reporters, Mr. Medalla said it’s too early to tell if the central bank will consider a pause in rate hikes.

“With regards to anything beyond August, it’s very data dependent. Don’t rule out anything. It will be rate hikes after August or it will be no rate hikes after August. It’s too early to tell,” he said.

Mr. Medalla said the central bank “stands ready to employ all necessary policy actions to bring inflation towards the target consistent path over the medium term.”

“In other words, we’ll try very hard to hit (the target) by next year,” he said.

Inflation accelerated to 6.1% in June, as prices of oil, food and other commodities continued to rise. June was the third straight month that inflation exceeded the BSP’s 2-4% target band.

The Monetary Board in June raised its average inflation forecast for 2022 to 5%, from 4.6% previously. It also hiked the 2023 average inflation forecast to 4.2%, from 3.9% previously. For 2024, BSP expects inflation to average 3.3%.

Meanwhile, Mr. Medalla said the central bank will continue to provide an enabling environment for its supervised financial institutions.

“We are very keen on reducing the reserve requirements because those that we do not regulate don’t have reserve requirements. The last thing we want to do is handicap those that we regulate,” Mr. Medalla added.   

The BSP is planning to lower the banks’ reserve requirement ratio (RRR) before the end of the year.

The RRR for big banks is currently at 12%, one of the highest in the region. Reserve requirements for thrift and rural lenders are at 3% and 2%, respectively.

The BSP earlier committed to bringing down the RRR of big banks to single digits by 2023. — Keisha B. Ta-asan

PHL economy seen to expand 6.5% this year

Motorists endure heavy traffic along the westbound lane of Commonwealth Avenue in Quezon City, July 28. — PHILIPPINE STAR/ MIGUEL DE GUZMAN

MAYBANK INVESTMENT Banking Group slashed its growth forecast for the Philippines this year, amid the increasing possibility of a recession in the United States, China, and the European Union (EU).

Maybank on Tuesday said it lowered the gross domestic product (GDP) growth forecast for the Philippines to 6.5% this year, from the 7% projection it gave in January.

The latest forecast is still within the government’s 6.5-7.5% target for the year, and faster than the 5.7% expansion in 2021.

Despite the downgrade, Maybank said the Philippine GDP growth will be the second fastest among the Association of Southeast Asian Nations (ASEAN) member countries for this year, after Vietnam’s 6.9%.

“We do see a rising probability of a recession because of a series of factors like the Russia-Ukraine war which will likely cause Europe to go into recession… China, US, and the EU are major export destinations for ASEAN-6,” Maybank economist Ju Ye Lee said in a webinar on Tuesday.

Ms. Lee said a 1% decline in China’s GDP growth “inevitably results in a decline in GDP growth for ASEAN,” although mainly Singapore, Thailand, and Malaysia.

“But if you look at the impact on the Philippines or Indonesia, they are more domestic oriented economies. The impact will likely be softer,” she said.

Maybank also lowered its 2022 growth projection for ASEAN-6 to 5%, from 5.4% previously.

For 2023, the Philippines is expected to grow by 6.2%, slightly below the government’s target of 6.5-8%. This is also higher than the average 4.6% GDP growth for ASEAN-6 expected in 2023.

INFLATION
Meanwhile, Maybank raised its average inflation forecast for the Philippines to 5.3%, from the projection of 2.8% given in January, as it expects inflation to peak in the third quarter.

Inflation rose to a near four-year high of 6.1% in June, the third straight month it settled above the BSP’s 2-4% target band. Year to date, inflation stood at 4.4%, still below the BSP’s 5% average inflation forecast.

“We think that inflation is likely going to peak in the third quarter because there are signs of easing commodity prices, as well as easing supply chain disruptions,” Ms. Lee said.

“But we don’t expect inflation to fall off quickly. The high inflation will likely stay for a while because supply disruptions, while they have eased, haven’t improved back to pre-pandemic levels.”

If realized, inflation in the Philippines will be the third highest in the ASEAN region, next to 6.3% for Thailand and 5.5% for Singapore.

Maybank said it expects Philippine inflation to ease to 3.9% in 2023, although this will still be second highest in the ASEAN after Malaysia’s 4.1%.

It noted food inflation in ASEAN stood at 6.5% in June, still modest compared with the European Union (10%) and the US (9.7%).

The Philippines, a net importer of food, remains below the average at 6%.

“We think that food prices have reached its peak. We are seeing signs of an easing, partly because Russia has resumed exports of some of its fertilizers,” Ms. Lee said.

“Also, we are seeing the softening of oil prices. Because oil prices and food prices are very strongly correlated, a weakening global demand would also help ease pressures on some of these food commodities,” she added.

Also, Maybank said the BSP will be the most aggressive central bank in the ASEAN region as it is expected to increase its benchmark interest rates to a total of 200 basis points (bps) by yearend.

“They are likely going to front load the interest rate hikes this year and likely keep policy rate unchanged in 2023, whereas in the rest of ASEAN, we are mostly expecting a 75-bp hike in Indonesia, Malaysia, as well as Thailand,” Ms. Lee said.

The BSP has increased its benchmark interest rates by a total of 125 bps so far this year. The Monetary Board is expected to raise rates again at its next meeting on Aug. 18. — Diego Gabriel C. Robles

Marcos’ priority bills may face rough sailing even with ‘supermajority’ in Congress

PRESIDENT Ferdinand R. Marcos, Jr. delivered his first State of the Nation Address during the joint session of the 19th Congress at the House of Representatives, Batasan complex, Quezon City, July 25. — PHILIPPINE STAR/KRIZ JOHN ROZALES

By Kyle Aristophere T. Atienza, Reporter

PRESIDENT Ferdinand R. Marcos, Jr. may have the support of the “supermajority” in Congress, but this does not guarantee that lawmakers will pass his priority economic bills immediately, analysts said.

Mr. Marcos in his State of the Nation Address (SONA) last month identified 19 priority measures, including a National Government rightsizing program, a tax on digital transactions, and amendments to the Electric Power Industry Reform Act (EPIRA) and the Build-Operate-Transfer (BOT) law.

“Supermajorities can be overwhelming but they may not mean instant passage of laws. What is critical is the public support for the president,” Robert John R. Go, a political science professor at the University of the Philippines (UP), said in a Messenger chat. “A popular president can shepherd Congress to pass priority measures.” 

A “supermajority” elected Leyte Rep. Martin G. Romualdez, cousin of Mr. Marcos, as the speaker of the House of Representatives. He is the president of Lakas-CMD, but received the support of the Nacionalista Party, Nationalist People’s Coalition, PDP-Laban, National Unity Party, and Hugpong ng Pagbabago for his speakership bid.

In the Senate, only senators Aquilino Martin “Koko” Pimentel III and Ana Theresia “Risa” Hontiveros-Baraquel are considered the minority, while senators Alan Peter S. Cayetano and Pilar Juliana “Pia” S. Cayetano have declared themselves as independent.

“The small number of minority lawmakers is going to make things smoother for Marcos,” said Leonardo A. Lanzona, who teaches economics at the Ateneo de Manila University, although he noted the “so-called ‘supermajority’ is more fragmented” than during the previous administration.

But even as the majority of the senators allied with Mr. Marcos, UP’s Mr. Go noted economic bills usually undergo stricter scrutiny from the Senate.

“The Senate supermajority will not automatically translate to speedy approval. Expect more debates happening there than in the other chamber,” he said.

Renato E. Reside, Jr., an associate professor at the UP School of Economics, said lawmakers and their constituencies have very diverse interests, which would likely complicate the deliberations on economic measures.

“Crafting legislation is all about evaluating tradeoffs in the process of trying to determine the bill that everyone can live with,” he said in a Messenger chat.

In his SONA, Mr. Marcos asked lawmakers to pass a bill that would impose value-added tax (VAT) on digital service providers, which he estimated would generate around P11.7 billion in revenues in 2023.

UP’s Mr. Go said taxation bills typically face rough sailing in Congress since these impose “additional financial burden” on citizens.

Maria Ela L. Atienza, who also teaches political science at UP, said economic bills that involve imposing new taxes are usually touted as “beneficial” to gain popular support.

“Economic bills affect taxpayers. So, any measure should be packaged to be seen as beneficial. Economic hardships and issues of graft and corruption affect the fate of these bills,” she said in a Viber message.

Mr. Marcos’ priority bills also include the last two remaining tax reform packages of the Duterte administration — the Real Property Valuation and Assessment Reform Act and Passive Income and Financial Intermediary Taxation Act.

The tax reform packages were approved by the House of Representatives during the 18th Congress, but failed to hurdle the Senate.

CHALLENGES
Meanwhile, the government’s limited fiscal space, the ongoing pandemic, rising inflation, high unemployment and a possible economic slowdown may force Mr. Marcos to tweak his economic legislative agenda.

“The economic circumstances in the world have become much more challenging than in 2016,” UP’s Mr. Reside said, referring to the challenges faced by Rodrigo R. Duterte when he assumed the presidency.

“In the case of President Marcos, there are more interests to be considered and less money to go around, thus making it more difficult for his economic bills to be passed,” said Ateneo’s Mr. Lanzona.

He said the proposed National Land Use Act, Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act and amendments to the BOT law would likely face rough sailing in Congress since “some members of the coalition have interests in real estate, finance, and construction that can be in conflict with these laws.”

Mr. Lanzona said there may also be a lack of support among lawmakers for the proposal to amend the EPIRA law.

Terry L. Ridon, a former lawmaker, expressed doubt that priority bills “impacting entrenched business interests” would be approved by Congress.

“It comes as no surprise why until today, the land use bill has never been enacted into law, as business interests with close political ties have always rejected limiting how land areas should be utilized,” he said via Messenger. “The same is true for EPIRA amendments, as energy companies with political allies in Congress will certainly make sure to further limit government’s regulatory powers.”

Mr. Marcos is also pushing for amendments to the EPIRA, which led to the privatization of the country’s energy industry.

Mr. Go, meanwhile, hopes that Malacañang will have better coordination with Congress through the Legislative-Executive Development Advisory Council to avoid presidential vetoes.

“More vetoed bills mean wasted legislative time,” he said.

Spotlight on Singapore, a confluence of cultures

COLORFUL houses on Koon Seng Road

By Brontë H. Lacsamana, Multimedia Reporter

WHEN shining the light on Singapore, the images that pop up in one’s head usually include the grandiose Marina Bay Sands, the iconic and proud Merlion statue, and the architectural marvel that mimics nature, Gardens by the Bay.

Let’s not even start with the vast array of malls all around Singapore, where locals and tourists alike try to beat the heat and engage in retail therapy.

On your next visit, take the opportunity to get to know facets of Singapore that most Filipinos don’t usually explore. Whether it’s a deep dive of local cuisine or culture or just a completely unique experience, believe it or not, this small country has a lot to offer.

TIONG BAHRU
A good starting point would be the quaint neighborhood of Tiong Bahru, which means “new cemetery” — tiong meaning “tomb” in Hokkien, and bahru meaning “new” in Malay. The area was a burial ground before it became a housing estate in the 1920s.

The name alone, combining Chinese and Malay, reflects a confluence of cultures that is a signature of Singapore. Tiong Bahru blends old and new, with a coexistence of aging and young tenants, of both vintage structures and trendy lifestyle shops and cafés.

Its market and hawker center show this as well, designed colorfully and spaciously to give the hawker tradition a more modern spin. Grabbing a bite from one of the many food stalls is a must before exploring the idyllic neighborhood.

An easter egg to look out for: there are many murals by artist Yip Yew Chong around Singapore, all reminiscent of the country’s distant past.

KATONG AND JOO CHIAT
For a taste of culture, the trendy yet nostalgic Katong/Joo Chiat neighborhood located in the Eastern side of the city offers a glimpse of Peranakan heritage.

Referring to the Chinese diaspora in the straits of the Malay peninsula, Peranakans embody the confluence of cultures that can be found in Singapore.

Rumah Kim Choo, a boutique shop and heritage gallery that gives tours and workshops, showcases Peranakan traditions.

From the intricately embroidered kebaya and beaded shoes worn by women to the historical origin of their rice dumplings to the interesting motifs on wedding ceremony beds and wardrobes, each little detail can be explained to curious tourists.

For Edmond Wong, director of business development at Rumah Kim Choo, Peranakans show “the coming together of different cultures, how it is to marry ideas together.”

To keep the heritage tour going, the Intan Peranakan Museum is a great place to hop to next for more soaking in of the local culture.

Owned by Alvin Yapp, who started off collecting Peranakan antiques as a hobby, the museum has the feel of a large cozy home, full of family heirlooms and old furniture.

“The people that sold or gave these items to me would also share the story behind them, and so that was how I learned about my own culture,” he told BusinessWorld. “It was never meant to be a museum. It was purely my own collection.”

To take aesthetically pleasing photos, head to the colorful houses on Koon Seng Road, known as a hotspot for photoshoots in Singapore. The pastel structures do look pretty, but if you look closely, they also have Peranakan motifs and styles.

KAMPONG GLAM
A full day can be dedicated to Singapore’s Muslim Quarter, located in Kampong Glam, filled with restaurants of various cuisines and stores that sell textiles and perfumes.

Arab Street and Haji Lane are the vibrant centers of this neighborhood. Tourists can take a stroll in the shopping areas surrounding the mosque, and go further out to the alleyways to see more clothes stores, street art, and cafés.

Those seeking a unique experience must head into SIFR Aromatics, one of the shops in the district, which offers a two-hour crash course in perfumery. There, you can learn to distinguish top notes and such, experiment with fragrances, and create your own scent.

“If you see a mosque, either they have free perfumes inside or you’ll see a perfume shop. Arabs have a strong relationship with perfumes,” said Johari Kazura, the aromatics studio owner who teaches the course.

Also in the neighborhood is the Vintage Camera Museum, a cool attraction especially for those who love photography. It’s hard to miss with an exterior shaped like a camera, with the entrance itself in the shape of a lens.

Inside, you can learn about the history of photography, from portable cameras and giant cameras to spy cameras and tiny cameras.

VINTAGE VESPA SIDECAR TOUR
Singapore Sidecars is a company that lets you take a look at Singapore in a completely new way: from the sidecar of a vintage Vespa while your street-savvy guide breezes you around on the tour of your choice.

The starting point of the ride is the Capitol Theatre.

To enjoy it, sit back and relax as a knowledgeable local introduces you to the sights and sounds of a city you probably thought you knew, but not in this particular way.

A one-hour tour of Kampong Glam, for example, means being woven in and out of alleys and getting a rare peek into parts of town you didn’t know about.

Make sure to take a lot of pictures!

CHINATOWN
Finally, there’s the essential visit to Chinatown, where you can shop for all sorts of delicacies and take in the history and landmarks.

Note: Like in Katong/Joo Chiat and Kampong Glam, the narrow shophouses reflect the width-based taxation that led properties to slim down structures. They’re also as vibrantly colored, making a nice background for photos.

For an in-depth, immersive experience, Let’s Go offers theatrical tours where your guide plays a character that can better explain the ins and outs of Singapore’s Chinatown.

Fengjie in Bukit Pasoh is a fun one where you follow Fengjie, a majie (spinster servant) whom you bump into in the area and decide to join as she runs errands for her master, explaining tidbits about Chinese immigrants’ lives and traditions along the way.

More Easter eggs: Singapore really loves its murals. Spot Detective Conan grabbing a bite from a local food cart and some intense cup pouring going on at a wall in town.

BusinessWorld visited Singapore as a guest of the Singapore Tourism Board (STB).

Photos were shot on a Canon EOS 700D and a Samsung Galaxy A32 5G.

NGO provides mental health support for sexually abused women 

SAGIP Babae Foundation, a Philippine-based non-government organization (NGO), will grant aid and relief to Filipino women who have suffered from domestic violence, sexual harassment, or sexual abuse.   

“We are here to make women realize their true value, and getting back on their feet is one of our main goals for them,” said Francesca Fugen, co-founder of Sagip Babae Foundation, at the NGO’s July 29 launch.  

Its Facebook community will hold webinars and bi-monthly group sessions, and offer self-care strategies, wellbeing and holistic healing education. 

Aside from matching beneficiaries to the appropriate partner experts, the foundation will also shoulder all expenses for therapy and medication within a woman’s first month of participation, as well as half of the costs in the second and third months.  

“We would like to be able to provide a safe space or shelter for women who are affected, but as of right now, we just have a physical office that is located in Las Piñas. It’s small, so we cannot house anyone or use it as a shelter yet,” said Ms. Fugen.  

Jun Angelo “AJ” Sunglao, a psychologist and mental health advocate, and Charlene R. Lucas, a psychologist and international clinical traumatologist, will serve as the group’s in-house experts.  

The foundation, which operates mainly online, plans to expand its advocacy to minors in the future. However, technicalities and legalities that require involvement of social workers from the government and even parental consent complicate matters.  

“We can start with women aged 18 and above. We can’t help everyone yet. As of right now, we would like to be able to get our foothold,” said Ms. Fugen.  

Around 25% of Filipino adults cite violence against women as a pressing problem during the pandemic, according to a Social Weather Stations survey released by the Commission of Population and Development in March 2021.  

The foundation will reach out to these women and offer resources for safeguarding their mental health, Sagip Babae Foundation said in a statement.  

To sustain operations long-term, the group is accepting pledges, whether through monetary donations, raising awareness for the cause, or joining as a volunteer. — Brontë H. Lacsamana

Puregold profit hits P2B as new stores boost sales

PUREGOLD Price Club, Inc. reported a 4.1% increase in its net income to P2.05 billion from last year’s P1.97 billion after booking higher sales boosted by newly opened stores and eased mobility restrictions.

“Sales had an uplift as mobility eased further in the second quarter. Total traffic to all stores increased by 10% versus the same period last year,” the company said in a press release on Tuesday.

During the second quarter, the company posted a 13.7% increase in net sales to P43.73 billion from the last year’s P38.45 billion.

In the first six months, the company registered a net income of P4.2 billion, a 5.3% jump from last year’s P3.99 billion.

“This was principally driven by the continuous organic expansion of the Group’s grocery retail outlets, strategic cost management and sustained strong consumer demand,” the company said in a disclosure to the stock exchange.

It also posted a 7.9% increase in net sales for the semester to P82.24 billion from P76.18 billion a year earlier.

“Net sales slightly grew due to sales contribution from full operation of 2021 new stores and revenue contribution from 2022 newly opened stores of both Puregold and S&R,” the company said.

The company added nine additional Puregold stores during the first half of the year, bringing the total number of Puregold group stores countrywide to 507 as of the end of June.

These stores include 438 Puregold stores, 22 S&R membership shopping warehouses, and 47 S&R New York Style quick service restaurants.

Puregold Price Club operates the group’s stores located all over the Philippines, maintains two online platforms — “Sally” and “PureGo” — and is affiliated with other online delivery platforms like Pickaroo, Metromart, Lazada, and Shopee.

On the stock exchange on Tuesday, shares in the company ended unchanged at P30.10 apiece. — Justine Irish D. Tabile

Ateneo Press named Publisher of the Year

27 winners proclaimed at the 39th National Book Awards

POSTPONED for two years because of the COVID-19 pandemic, the National Book Awards ceremony returned for its 39th year, holding its awarding ceremony online on July 30. The National Book Development Board (NBDB) and the Manila Critics Circle (MCC) awarded 27 winners in 25 categories.

There were 110 finalists in this year’s edition, all of which were published in 2019 and 2020. Two winners each were named for the categories Best Book for Drama and Best Book for Poetry in English. The Ateneo de Manila University Press was named the Publisher of the Year with a total of eight winning titles.

Despite the challenges brought by the coronavirus pandemic, NBDB Executive Director Charisse Aquino-Tugade noted improvements in book publishing over the last two years.

In her opening speech, Ms. Aquino-Tugade noted “there was an unprecedented increase in ISBN applications, over P30 million grants and domestic incentives received by creators, the setup of book nook sites (which are safe and inclusive reading spaces all over the country), numbering 52 in 2021 and 40 more this year, dozens of Filipino titles brought to the global stage via international book fairs, and the continuous literary production of independent publishers and creators.”

“While some people might say that awards are really just secondary to what is truly important — which is the book — I believe, like many of you, that the prestige and attention that they bring to creative work amounts to something greater,” Ms. Aquino-Tugade said. “They encourage wider readership and spotlight what are otherwise overlooked voices, which then encourages sales and helps our booksellers and publishers, which in turn encourages wider authorship.”

The Book Nook project, which began in 2021, aims to distribute Filipino authored books (including titles written in local languages) in reading centers in indigenous and remote areas from Ifugao to Tawi-Tawi. The nooks are located in public spaces, such as public parks and markets, where designated storytellers also teach children to read. A hundred nooks are targeted to be set up by 2023.

“By increasing access points for books across the country through our programs such as the Book Nook, and by expanding the market for publishers through our participation in international fairs, the NBDB is set to leverage the power of our number — our archipelago of stories, from the islands of Batanes to Tawi-Tawi, and our global diaspora that knows no boundaries,” NBDB Chairman Dante Francis Ang II said in his message.

THIS YEAR’S JUDGES
This year’s panel of judges from the Manila Critics Circle were: National Artist for Literature Virgilio S. Almario, Ruel S. De Vera, Dean Francis Alfar, Alma Anonas-Carpio, Michael M. Coroza, and Shirley O. Lua.

The permanent judges for Literary Division are Neni Sta. Romana-Cruz for English, and Jun Cruz Reyes for Filipino. The category judges for the Literary Division are: Charlson Ong for Fiction, Romulo P. Bacquiran, Jr. for Nonfiction Prose, Jose Wendell Capili for Essay, Merlie M. Alunan for Anthology, Christian Vallez (Juan Ekis) for Drama, Ferdinand M. Lopez for Literary Criticism and Literary History, Marra Lanot for Poetry, Carl Joe Javier for Graphic Literature, and Marne Kilates for Translation.

Analyn Salvador Amores served as the permanent judge for the Non-Literary Division. The category judges for the Non-literary Division are: Ma. Elizabeth “Mariles” L. Gustilo for Art, Antonio Gabriel La Viña for Professions, Maria F. Mangahas for Social Sciences, Ma. Bernadette Abrera for History, Marites Dañguilan Vitug for Journalism, Joanna Manalastas Calasanz for Humor, Sports, and Lifestyle, Michaela Fenix Makabenta for Food, Ma. Yodel M. Pe for Design, and Eric R. Punzalan for Science.

The winning authors receive a certificate, a cash prize, and trophy, while the winning publishers receive a winner’s certificate.

Below is the full list of winners:

LITERARY
Best Novel in English — Tiempo Muerto: A Novel by Caroline S. Hau (Ateneo University Press)

Best Novel in Filipino — Topograpiya ng Lumbay: Imus Novel 6 by RM Topacio-Aplaon (University of the Philippines Press)

Best Book of Short Fiction in English — Voyager and Other Fictions: The Collected Stories of Jose Dalisay by Jose Dalisay, Jr. (Anvil Publishing Inc.)

Best Book Short Fiction in Filipino — The Next Great Tagalog Novel at Iba Pang Kuwento by Allan N. Derain (University of the Philippines Press)

Best Book of Nonfiction Prose in English — Biyaheng Pinoy: A Mindanao Travelogue by Edilberto N. Alegre (Ateneo University Press)

Best Book of Nonfiction Prose in Filipino — Balager by Emmanuel T. Barrameda (Balangay Productions)

Best Book of Essays in English — The Philippines Is Not a Small Country by Gideon Lasco (Ateneo de Manila University Press)

Best Anthology in English — Mindanao Harvest 4 edited by Jaime An Lim, Christine F. Godinez-Ortega, Ricardo M. De Ungria (Far Eastern University Publications)

Best Book of Drama — Salvador/Javier at Iba Pang Dula by Lito Casaje (University of the Philippines Press) and Two Women as Specters of History: Lakambini and Indigo Child by Rody Vera (Ateneo de Manila University Press)

Best Book of Literary Criticism in English — Sensing Manila by Gary C. Devilles (Ateneo de Manila University Press)

Best Book of Literary History in English — Songs Sprung from Native Soils: More Conversations with Eight Mindanao Writers edited by Ricardo M. De Ungria (Xavier University – Ateneo de Cagayan Press)

Best Book of Literary Criticism in Filipino — Faustino Aguilar: Kapangyarihan, Kamalayan, Kasaysayan by Epifanio San Juan Jr. (UST Publishing House)

Best Book of Poetry in English — When Bridges Are Down, Mountains Too Far: New Poems by Gemino H. Abad (University of the Philippines Press) and We Shall Write Love Poems Again by Dinah Roma (UST Publishing House)

Best Book of Poetry in Filipino — Ruta: Mga Bago at Piling Tula by Benilda S. Santos (Ateneo de Naga University Press)

Best Graphic Literature — Tarantadong Kalbo Volume 1 by Kevin Eric Raymundo  (Komiket)

Best Translated Book — The World is Still Beautiful by Lazaro Francisco, translated by Mona Highley (Ateneo de Manila University Press)

NON-LITERARY
Best Book on Art — Philippine Cinema, 1897-2020 by Gaspar A. Vibal and Dennis S. Villegas; edited by Teddy O. Co (Vibal Group)

Best Book on Professions — Cool Minds, Brave Hearts: The People of the Philippine Central Bank by Roel R. Landingin (Bangko Sentral ng Pilipinas)

Best Book in the Social Sciences — Rethinking Filipino Millennials: Alternative Perspectives on a Misunderstood Generation edited by Jayeel Cornelio
(UST Publishing House)

Best Book on History — Clothing the Colony: Nineteenth-Century Philippine Sartorial Culture, 1820-1896 by Stephanie Coo (Ateneo University Press)

Best Book in Journalism — Press Freedom Under Siege: Reportage that Challenged the Marcos Dictatorship by Ma. Ceres P. Doyo (University of the Philippines Press)

Best Book on Humor, Sports, and Lifestyle — Walk Manila by Lorelei D.C. de Viana (Far Eastern University)

Best Book on Food — Lasa ng Republika Dila at Bandila: Ang Paghahanap sa Pambansang Panlasa ng Filipinas by Ige Ramos (Anvil Publishing)

Best Book in Science — The Zanjeras of Ilocos: Cooperative Irrigation Societies of the Philippines by Jose A. Rivera (Ateneo University Press)

Best Book Design — A Watercolor Journey by Claude Tayag and design by Miguel Mari (Holy Angel University)

— Michelle Anne P. Soliman

‘Living with COVID’: Where the pandemic could go next

PHILIPPINE STAR/ WALTER BOLLOZOS

LONDON/CHICAGO — As the third winter of the coronavirus pandemic looms in the northern hemisphere, scientists are warning weary governments and populations alike to brace for more waves of coronavirus disease 2019 (COVID-19).  

In the United States alone, there could be up to a million infections a day this winter, Chris Murray, head of the Institute of Health Metrics and Evaluation, an independent modeling group at the University of Washington that has been tracking the pandemic, told Reuters. That would be around double the current daily tally.  

Across the United Kingdom and Europe, scientists predict a series of COVID waves, as people spend more time indoors during the colder months, this time with nearly no masking or social distancing restrictions in place.  

However, while cases may surge again in the coming months, deaths and hospitalizations are unlikely to rise with the same intensity, the experts said, helped by vaccination and booster drives, previous infection, milder variants and the availability of highly effective COVID treatments.  

“The people who are at greatest risk are those who have never seen the virus, and there’s almost nobody left,” said Mr. Murray.  

These forecasts raise new questions about when countries will move out of the COVID emergency phase and into a state of endemic disease, where communities with high vaccination rates see smaller outbreaks, possibly on a seasonal basis.  

Many experts had predicted that transition would begin in early 2022, but the arrival of the highly mutated Omicron variant of coronavirus disrupted those expectations.  

“We need to set aside the idea of ‘is the pandemic over?’” said Adam Kucharski, an epidemiologist at the London School of Hygiene and Tropical Medicine. He and others see COVID morphing into an endemic threat that still causes a high burden of disease.  

“Someone once told me the definition of endemicity is that life just gets a bit worse,” he added.  

The potential wild card remains whether a new variant will emerge that out-competes currently dominant Omicron subvariants.  

If that variant also causes more severe disease and is better able to evade prior immunity, that would be the “worst-case scenario,” according to a recent World Health Organization (WHO) Europe report.  

“All scenarios (with new variants) indicate the potential for a large future wave at a level that is as bad or worse than the 2020/2021 epidemic waves,” said the report, based on a model from Imperial College of London.  

CONFOUNDING FACTORS 
Many of the disease experts interviewed by Reuters said that making forecasts for COVID has become much harder, as many people rely on rapid at-home tests that are not reported to government health officials, obscuring infection rates.  

BA.5, the Omicron subvariant that is currently causing infections to peak in many regions, is extremely transmissible, meaning that many patients hospitalized for other illnesses may test positive for it and be counted among severe cases, even if COVID-19 is not the source of their distress.  

Scientists said other unknowns complicating their forecasts include whether a combination of vaccination and COVID infection — so-called hybrid immunity — is providing greater protection for people, as well as how effective booster campaigns may be.  

“Anyone who says they can predict the future of this pandemic is either overconfident or lying,” said David Dowdy, an infectious disease epidemiologist at Johns Hopkins Bloomberg School of Public Health.  

Experts also are closely watching developments in Australia, where a resurgent flu season combined with COVID is overwhelming hospitals. They say it is possible that Western nations could see a similar pattern after several quiet flu seasons.  

“If it happens there, it can happen here. Let’s prepare for a proper flu season,” said John McCauley, director of the Worldwide Influenza Centre at the Francis Crick Institute in London.  

The WHO has said each country still needs to approach new waves with all the tools in the pandemic armory — from vaccinations to interventions, such as testing and social distancing or masking.  

Israel’s government recently halted routine COVID testing of travelers at its international airport, but is ready to resume the practice “within days” if faced with a major surge, said Sharon Alroy-Preis, head of the country’s public health service.  

“When there is a wave of infections, we need to put masks on, we need to test ourselves,” she said. “That’s living with COVID.” — Reuters 

At 75, Edinburgh Festival more intent than ever on healing divisions

LONDON — Self-described working class playwright Kieton Saunders-Browne used to think the Edinburgh Fringe wasn’t for people like him —  until a fund set up to draw a more diverse cast of performers to the world’s largest arts festival stepped in to help.

The 24-year-old Londoner, of Irish and Caribbean heritage, is using a grant from the Generate Fund to stage his play Block’d Off, which runs at the city’s Pleasance Theatre from Aug. 3, and break the cycle of deprivation that is central to the work.

Even more than race, class is the issue that touches everyone and “transcends everything,” Mr. Saunders-Browne contends, and yet, working class stories tend to be untold.

“The reason they’re not there is because, almost in a scientific way, working class people have different struggles to deal with,” he said.

“You can’t do art, if you have no food, if you don’t know when you’re going to be physically safe.”

Unlike stereotypical Edinburgh Fringe artists, safe in the knowledge they can fall back on family money, Mr. Saunders-Browne said his mother’s household budget was £3,000 ($3,650) a year. That’s less than the £5,000 he got from the fund, which was set up by the Pleasance for Black, Asian and Global Majority Artists.

He was nevertheless determined to act and won a scholarship to the London Academy of Music and Dramatic Art (LAMDA).

His play’s characters, male and female — including drug dealers and a white, middle-class tutor who tries to help —  are all played by one woman, Camila Segal. She says the play fits into a theatrical trend of “moving towards authenticity.”

Ms. Segal left Brazil at the age of 10 after an aunt provided money for her mother to take her to England in pursuit of a better life.

“I feel like I am this play,” she said. “This is extremely personal for me.”

Celebrating its 75th anniversary, the Edinburgh International Festival, and the Fringe that formed around it, was founded in the aftermath of World War Two with the goal of using culture to heal divisions.

That ambition has never felt more relevant.

Anthony Alderson, artistic director at the Pleasance, says attracting the greatest range of people is crucial to narrowing gaps in society that have widened during the COVID-19 pandemic and as inflation has surged.

The Pleasance is not the only venue with schemes to support diversity. The nearby Assembly says its performances are selected “regardless of age, class, gender, or race.”

Their success will become clear by the end of Edinburgh’s first fully live festival since the pandemic.

Ticket sales have yet to match the records of 2019.

“The risks involved in mounting this festival are immense for everyone involved,” Mr. Alderson said. “Break-even is incredibly difficult to achieve.” — Reuters

SMIC gets regulatory nod to acquire geothermal firm

SM INVESTMENTS Corp. (SMIC) has acquired full ownership of Philippine Geothermal Production Co., Inc. (PGPC), the operator of Tiwi and Mak-Ban steam fields, through a P15.76-billion share-swap deal with Allfirst Equity Holdings, Inc.

“The acquisition of PGPC is sizeable, accretive to our shareholders, and a strong strategic fit with our portfolio of investments in high growth sectors in the Philippines,” said Frederic C. Dybuncio, president and chief executive officer of SMIC in a stock exchange disclosure on Tuesday.

He added that the deal further reinforces the SM group’s commitment “to sustainability, good governance and acting as a catalyst for responsible development in the communities we serve.”

In the disclosure, SMIC said that it received on Aug. 1 the approval from the Securities and Exchange Commission to acquire the 81% stake of related parties in Allfirst, the holding company for PGPC, in exchange for shares in SMIC.

SMIC said that the deal will bring the company’s ownership in PGCP to 100%. The transaction also involves the issuance of 17.44 million new shares to the sellers or 1.4% of shares outstanding in SMIC.

The steam fields in Tiwi, Albay and Mak-Ban (Makiling-Banahaw) in Laguna and Batangas generate combined geothermal steam enough to produce 300 megawatts of electricity.

Aside from the two steam fields, PGCP also has several greenfield concession areas for geothermal steam production which it plans to develop in the future.

Tiwi is the first commercial-scale geothermal steam field development in Southeast Asia, followed by Mak-Ban. Both are in operation since 1979.

“In 2021, PGPC delivered $99.4 million in revenues and $48.8 million in net income, equivalent to 1.2% of SMIC 2021 revenues and 5.5% accretion to SMIC 2021 net income respectively,” SMIC said.

On Tuesday, shares in SMIC slipped by 1.41% or P11 to close at P769 each. — Ashley Erika O. Jose

Pfizer tests drone delivery of medical supplies

PFIZER, a multinational biopharmaceutical firm, piloted the drone delivery of medicines and vaccines to the remote rural community of San Luis, Agusan del Sur, in partnership with Geneva-based WeRobotics and Philippines Flying Labs. 

The pilot project, conducted from March 6 to 10, saw drone pilots with at least 1,000 hours of drone training and flying experience deliver maintenance medicines, coronavirus disease 2019 (COVID-19) vaccines, medical equipment such as needles and syringes, and water samples for testing to the community of Kilometer 55, Barangay Binicalan in San Luis.  

First conceived in 2020, the project took two years to plan.   

The aim was to create a proof of concept on the accessibility of healthcare via drone delivery for areas that are geographically isolated and disadvantaged, said Ken R. Millan, digital lead for Pfizer Philippines, in an Aug. 2 e-mail.  

“Once established, the Pfizer Foundation hopes to scale up similar projects in adjacent municipalities of San Luis,” he said.  

San Luis, an isolated community due to roads that are impassable during the rainy season, has a high prevalence of diarrhea, malnutrition, hypertension, and diabetes. 

“We’re not here to replace any existing delivery service here; we are here to augment and enhance the current system,” said Dr. Heidi Sampang-Abiad, managing director at Philippines Flying Labs, in a July 22 press release.   

“Drones are reliable and are a good addition to strengthen the last mile health service delivery in the country,” she added.  

The habal-habal [a provincial motorcycle taxi] costs P5,000 to P6,000 and can take up to five hours to go back and forth from the community, she said. Drone deliveries, meanwhile, can shorten that to 10 minutes. 

“The Provincial Government of Agusan del Sur is open to innovative projects such as this one which can improve healthcare access to our isolated communities,” said Santiago B. Cane, Jr., Agusan del Sur governor, in the same press release.  

In 2018, Henrietta H. Fore, United Nations International Children’s Emergency Fund executive director, said that drone technologies can be “a game changer for bridging that last mile.” — Patricia B. Mirasol

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