ALEX M. Eala reached a new career-best ranking in the Women’s Tennis Association (WTA), barging inside the Top 350 for the first time following a stellar campaign in Spain over the weekend.
Ms. Eala fell short in winning her third professional title with a runner-up finish behind home bet Marina Bassols Ribera in the W60 Madrid, but it was more than enough to push her to No. 340 in the latest WTA list this week.
The 17-year-old Filipina ace bested her previous career-high at No. 394 back in May after she ruled the W25 Chiang Rai in Thailand for her second championship in her budding pro career.
Ms. Eala’s solid performance in Madrid that catapulted her WTA rise included wins over an array of Top-300 players led by then WTA No. 182 and now No. 153 Jaimee Fourlis of Australia.
A scholar of the Rafael Nadal Academy in Spain, Ms. Eala has now jumped 186 spots after starting the year at No. 526.
Ms. Eala even came all the way from No. 1180 back in 2020 when she started participating in the women’s pro circuit.
In the International Tennis Federation (ITF) junior rankings, Ms. Eala is steady at No. 18 highlighted by two juniors doubles Grand Slams despite little to no participation so far this year in a bid to focus more in the women’s play.
Prior to her fine Madrid showing, Ms. Eala won three bronze medals in her 31st Southeast Asian Games debut in Hanoi, Vietnam last month. — John Bryan Ulanday
A LABOR agreement between the Philippines and Germany will allow Filipino nurses to leave despite the deployment cap instituted by the Duterte administration.
Signed on June 3 by Karl Lauterbach, Germany’s federal minister of health, and Silvestre H. Bello III, the Philippines’ Department of Labor and Employment secretary, the memorandum of understanding (MoU) aims to improve the recruitment procedures for Filipino nurses under the private recruitment track, and ensure the fair treatment and protection of Filipino healthcare workers who apply through the German Agency for Health and Care Professionals, a nongovernment institution.
“The aim in coming up with this MoU was to provide an avenue for deployment through private agencies despite the deployment cap,” said German ambassador Anke Reiffenstuel in a June 17 virtual roundtable organized by the GPCCI (German-Philippine Chamber of Commerce and Industry).
The MoU will provide a common legal framework for the two countries involved, added Delmer R. Cruz, labor attaché from the Philippine Overseas Labor Office, in the same event. It will also direct the recruitment and placement of healthcare workers (HCWs), he said.
GLOBAL DEMAND Meanwhile, 3,714 Filipino nursing graduates indicated their desire to practice their profession in the US by taking the said country’s licensure examination for the first time in the first quarter of 2022, according to Cebu Rep. Eduardo R. Gullas in a June 19 press release.
Passing the NCLEX is the final step in the US’s nurse licensure process, and an indicator of how many Filipino nurses plan to enter its labor market.
“Our universities should invest more aggressively in training entry-level nurses if we want to supply the global demand for new practitioners while also fulfilling the local requirement,” said Mr. Gullas, also a member of the House committee on higher and technical education.
“Our single biggest advantage in foreign labor markets is that we are teaching our Bachelor of Science in Nursing program in English, the world’s bridging language,” he added in the same press release.
The flight of HCWs hampered the coronavirus disease 2019 (COVID-19) response in the Philippines and has forced health institutions to downsize their operations, according to a paper published this May in the Journal of Global Health.
THE GOVERNMENT partially awarded the fresh Treasury bonds (T-bonds) it offered on Tuesday as players continued to ask for higher returns on expectations of more rate hikes from the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve.
The Bureau of the Treasury (BTr) raised P34.892 billion via the fresh 10-year T-bonds it auctioned off on Tuesday, just below the programmed P35 billion, even as the offer attracted P67.294 billion in bids.
The debt papers were awarded at a coupon rate of 7.25%, 30.59 basis points (bps) higher than the 6.9441% quoted for the 10-year tenor at the secondary market before the auction, based on the PHP Bloomberg Valuation Reference Rates published on the Philippine Dealing System’s website. Rates bid by participants ranged from 6.95% to 7.37% for an average of 7.145%.
National Treasurer Rosalia V. de Leon said in a Viber message to reporters that the BTr nearly made a full award as the offer attracted strong demand even with the tenor being long.
“Market provided cushion against back-to-back rate increases to be delivered by both the Fed and BSP in the next policy meetings to slay the ugly head of inflation,” Ms. De Leon said.
The first trader said in a Viber message that demand for the 10-year bonds was strong due to a lack of supply of long tenors in the primary and secondary markets.
“Bids submitted by the market were very much in line with expectations… It offers a relatively attractive yield compared to other bonds in the local GS (government securities) curve. We haven’t seen these levels for quite a while now so there may be some form of value investing already,” the first trader said.
The second trader said the auction was successful as the Treasury almost made a full award with the rate range “well within expected levels.”
The BSP’s Monetary Board will meet to review policy settings on Thursday, June 23.
Outgoing BSP Governor Benjamin E. Diokno and his successor Monetary Board member Felipe M. Medalla last week said a 25-bp hike at the Thursday meeting is almost a “sure thing.” Both made their comments before the Fed’s decision to raise rates by 75 bps last week.
Mr. Medalla said the BSP could raise rates again in its Aug. 18 meeting and several more times this year, but tightening will be gradual as he ruled out hikes bigger than 25 bps. He said in a roundtable discussion with BusinessWorld editors last week that the BSP still has the “luxury of time and large reserves.”
On Monday, Mr. Diokno and Mr. Medalla affirmed their intent to raise rates gradually, both signaling a 25-bp hike this week despite market expectations of a 50-bp increase.
The BSP began its tightening cycle with a 25-bp hike on May 19 to help stem rising prices as headline inflation already reached 5.4% in May, higher than its 4.6% forecast and 2-4% target for the year. Year to date, inflation has averaged 4.1%.
Increases worth 25 bps at the Monetary Board’s June and August meetings would bring the benchmark rate to 2.75% from the current 2.25%.
Meanwhile, several US central bankers are set to give speeches this week, led by a likely hawkish testimony from Fed Chair Jerome H. Powell to the House on Wednesday and Thursday.
The Fed last week vowed its commitment to containing inflation was “unconditional,” while Fed Governor Christopher Waller on Saturday said he would support another hike of 75 bps in July.
US inflation rose by 8.6% year on year in May, the highest in 40 years.
The BTr wants to raise P250 billion from the domestic market in June, or P75 billion via Treasury bills and P175 billion via T-bonds.
The government borrows from local and external sources to help fund a budget deficit capped at P1.65 trillion this year, equivalent to 7.6% of gross domestic product. — T.J. Tomas
HEINEKEN, the international premium beer brand, is taking on a new corporate identity and aims to boost its presence in the Philippines, which the Dutch brewer considers one of its major growth drivers in the region.
At the helm of the corporate refresh is Michael Vainio, the country manager. He will oversee the beer brand’s expansion through Heineken Philippines, Inc.
In a statement on Tuesday, Heineken Philippines said Mr. Vainio has years of experience with CPG (consumer packaged goods) categories under his belt.
Before joining the local company, he served for 12 years at Kimberly-Clark as general manager for Singapore and the Philippines. He was head of customer development before joining Heineken Philippines.
Heineken entered the Philippine market in 2016 through AB Heineken Philippines, a 50-50 joint venture partnership between Heineken and Filipino-owned diversified beverage company Asia Brewery, Inc.
Now under a “reformed partnership structure,” Heineken Philippines has put up its own sales and marketing office based in Manila. Asia Brewery is still the local manufacturing partner and distributor of the international brand’s premium beer products in the Philippines.
Heineken describes itself as “one of the most iconic beer brands in the world for over 150 years.”
“It’s known for its green bottle and red star, and its unforgettable rich and crisp flavors with subtle fruity notes: the perfect medley of 100% pure natural ingredients of barley, hops and water — together with its own special A-Yeast that gives each brew the characteristic balanced taste.”
Heineken considers Southeast Asia as a top region in beer consumption. It cited a report by Marketresearch.com that the Philippines’ beer market was at $2 billion in 2015, with a growth of about 6.38% from 2015 to 2019.
It said the lockdowns during the pandemic badly hit industries across the board but with the easing of restrictions and reopening of businesses, the country’s beer market is predicted to hit $3.41 billion in retail prices or a compound annual growth rate of 4.7% per annum from 2020 to 2025.
THE PHILIPPINES posted its largest monthly balance of payments (BoP) deficit in 15 months in May, mainly due to the National Government’s foreign debt payments, the central bank said on Tuesday. Read the full story.
MADRID —Spanish fashion retailer Mango is in talks with local partners in Russia to hand over the shops it had temporary closed in March following Moscow’s invasion of Ukraine.
The first two of the 55 shops Mango was directly operating in Russia will be transferred this week to local partners, the Spanish company said in a statement on Monday.
Many Western retailers are seeking to get out of the Russian market. Furniture maker IKEA last week said it would sell factories, close offices, and reduce its workforce in Russia, while many others have shuttered their stores for months.
Companies such as McDonald’s, Renault, and Enel have written down hundreds of millions of dollars in losses as they sell assets at cut prices.
Mango expects another 22 shops in Russia to be handed over to third parties between June and July, while it continues to negotiate on the future of the rest with other associates.
“Given the uncertainty regarding the evolution of the geopolitical situation and to guarantee continuity for its 800 employees in the country, Mango will cease to operate directly in Russia,” the company said.
A total of 65 Mango franchise stores were already being run by third parties in Russia, 53 of which remain open, the company said, after the Spanish retailer also stopped website sales to Russia and cut exports to the country in March.
With Mango leaving Russia, local associates will have to purchase the company’s products in Spain or through intermediaries reselling them in their stores.
Russia accounted for 8% of the company earnings before interest and taxes at the end of 2021 and was among Mango’s five largest markets.
The retailer allocated a provision of €20 million for the impact of the temporary closure of its Russian operation.
Moscow has called its actions in Ukraine a special military operation.
In Ukraine, Mango said it has reopened nine shops, five of them through third-party associates. — Reuters
THE Philippine Basketball Association (PBA) on Tuesday slapped Magnolia’s Calvin Abueva with a one-game suspension and P10,000 fine for his “unsportsmanlike conduct” in the Hotshots’ Manila Clasico duel with Barangay Ginebra last Sunday.
Mr. Abueva, according to commissioner Willie Marcial, was penalized for “spitting” on the floor in the said match, where he was thrown out after incurring his second technical foul with still nine minutes left in the game.
“Nakita natin sa video, spitting on the floor. Ginawa na rin niya ito sa Bacolor (last season) at sinabihan na rin natin siya (that time) na kapag naulit pa, suspension na,” Mr. Marcial told The STAR.
Mr. Marcial warned the controversial forward of “stiffer penalties and heavier sanction” for a similar misdemeanor in the future.
“Apologetic siya,” said the PBA executive, who met with the controversial forward to hear his side in the wake of his outburst two nights before.
Mr. Marcial also took the opportunity to ask Mr. Abueva about his “Japan, Japan!” and “Bye, PBA!” yell on his way out of the MOA Arena. His words were captured on video by Spin.ph and went viral, fanning talks of a possible intention to pack his bags for the Japan B.League.
“Nadala lang daw siya ng emosyon,” Mr. Marcial recalled Mr. Abueva’s explanation. “Sabi pa niya, kung pupunta raw siya ng Japan eh ‘di sana, ginawa na niya ito habang suspended siya sa PBA (June 2019 to October 2020). Gusto niya raw talaga sa PBA at nagpakahirap daw siya para makabalik dito.”
Mr. Abueva will serve his one-game sitout in Magnolia’s next game against Phoenix on Friday. — Olmin Leyba
A local study published in 2020 observed uneven shoulders in grade 6 students who weighed less than 50 kilograms (110 pounds) as a result of carrying heavy school bags for at least 5–10 minutes per day. Image via PHILSTAR
Scoliosis is a condition that causes a sideways curve of the spine (backbone). These spinal curves are often S- or C-shaped. Scoliosis is most common in late childhood and the early teens, when children grow fast. Girls are more likely to develop it than boys. The condition can also run in families.
Signs and symptoms of scoliosis include uneven shoulders, one shoulder blade that appears more prominent than the other, an uneven waist, one hip that is higher than the other, one side of the rib cage that juts forward, and a prominence on one side of the back when bending forward. Consult a doctor if you observe these signs and symptoms in your child.
The cause of most cases of childhood scoliosis is unknown. Researchers and doctors think that a combination of factors plays a role in the development of the disease. These include genes, hormones, and changes in cell structure.
For some children, scoliosis develops when another disease or disorder, or trauma causes the spine to curve. These include congenital factors, which happen during the development of the spine when the baby is in the womb, leading to a curve in the spine; genetic diseases, which happen when changes occur in one or more genes; injury to the spine, usually from trauma to the spine or back; neuromuscular diseases, which affect the nerves that send messages to muscles, leading to muscle weakness and loss; and tumors, which can cause physical changes to the spine.
X-rays are usually done to monitor whether the curve in children with mild scoliosis is worsening. In many cases, no treatment is necessary. Doctors recommend treatment for scoliosis based on the locations of the curve; if the curve is mild, moderate, or severe; if the curve causes symptoms; and if your child or teen is still growing.
While most cases are mild, some spinal curves worsen as children grow. Treatment options include observation, bracing to stop the curve from worsening and surgery to straighten severe curves. The doctor may recommend physical therapy to help strengthen muscles. Treatment goals may include stopping or slowing the curve in the spine from progressing; preventing or decreasing pain; preventing or managing any respiratory problems that may develop due to the curve; helping improve posture; and helping improve quality of life.
A local study published in 2020 observed uneven shoulders in grade 6 students who weighed less than 50 kilograms (110 pounds) as a result of carrying heavy school bags for at least 5–10 minutes per day. Fifty-eight grade 6 students of a private school in northern Luzon were included in the study. The majority were 12 years old, with more boys below five feet in height. Most carried school bags that weigh 3–4 kg (6.6-8.8 pounds).
“There is a potential risk of adolescent idiopathic (of unknown cause) scoliosis among the 6th grader participants in two existing aspects: the postural deviation (shoulder asymmetry) and the repetitive carrying of heavy school bags,” the study authors said.
To prevent complications and disability, they recommended the integration of scoliosis screening in the primary healthcare services of school health programs in the country. They noted that most developed countries, particularly the US, implement scoliosis screening in schools to promote early detection and treatment so that surgery is avoided.
The symptoms among adults are similar to the symptoms experienced by children. Back pain, on the other hand, is more commonly experienced by adults. The UK National Health Services recommends discussing these potential treatments with a doctor: pain relievers for back pain, spinal injections, back braces, or surgery for some adults.
There are an estimated 3 million Filipinos with scoliosis based on data gathered by the Scoliosis Research Society. Through the advocacy of Scoliosis Philippines led by its founder Amanda Bonife-Kiamko, President Rodrigo R. Duterte in 2016 signed Proclamation No. 620 declaring June of every year as Scoliosis Awareness Month to raise awareness on the disorder and promote its early detection.
Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines (PHAP), which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are at the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.
FINANCE CHIEF Carlos G. Dominguez III affirmed a ruling declaring the Bureau of Fire Protection Mutual Aid and Beneficiary Association, Inc.’s operations as illegal. — DOF.GOV.PH
THE Department of Finance (DoF) upheld a 2017 ruling by the Insurance Commission (IC) declaring the operations of Bureau of Fire Protection Mutual Aid and Beneficiary Association, Inc. (BFPMBAI) as illegal.
Finance Secretary Carlos G. Dominguez III affirmed the IC ruling in a decision dated May 24 that said the IC has jurisdiction over the case as the “sole government agency mandated to ensure the faithful execution and enforcement of the provisions of the Insurance Code as well as the efficient regulation of the insurance industry.”
“The IC very much appreciates the DoF’s acknowledgment and affirmation in its decision of our mandate to safeguard the rights and interests of the insuring public against the deleterious effects of unsanctioned and unsupervised activities of unregistered entities,” Insurance Commissioner Dennis B. Funa said in a statement.
In 2017, the IC ordered the BFPMBAI to shut down and pay a P200,000 fine for operating as a mutual benefit association (MBA) without a license from the regulator following an administrative case filed by the Fire Service Mutual Benefit Association, Inc. (FSMBAI).
In an administrative case filed before the IC, the BFPMBAI argued it was not operating as an MBA but as a mutual aid and beneficiary association organized under the National Internal Revenue Code (NIRC). The firm denied providing insurance benefits to its members as they are covered by a private insurance company.
The NIRC states that a beneficiary association provides for the payment of life, sickness, accident, and other benefits of its members.
The BFPMBAI argued that based on the NIRC, the IC has no jurisdiction over it, that it was denied the due process of law, and that the IC’s imposition of a cease-and-desist order on its operations was incorrect.
It added that the FSMBAI, which filed an administrative case against it in 2017, should not have been allowed to file to begin with as it was under conservatorship at the time.
FSMBAI is a licensed MBA comprised of officers, employees and retirees of Bureau of Fire Protection and some personnel from the Department of the Interior and Local Government.
For its part, the DoF said the BFPMBAI met the requirements to be considered an MBA, based on Section 430 of the Insurance Code, which effectively places them under the IC’s jurisdiction.
The Insurance Code defines an MBA as a nonstock and nonprofit society, association or corporation organized for the purpose of paying sick benefits to members, furnishing financial support to members while out of employment, or of paying relatives of deceased members.
The DoF also upheld the IC’s finding that FSMBAI had the right to file an administrative case against BFPMBAI as it “had the statutory power under the Corporation Code to sue under its own name.
It added that the BFPMBAI was able to defend itself during the pre-trial and hearings in 2017, in contrast to its claim that it was denied the opportunity to do so. — TJT
The Philippines dropped 10 places to 99th out of 130 countries with an overall score of 37.3 (out of a possible 100) in the 2022 edition of FM Global Resilience Index by US-based mutual insurance company FM Global. The index ranked countries based on their overall resilience of business environment based on economic, risk quality, and supply chain data. The Philippines was the third-least resilient business environment compared with its Southeast Asia peers, just ahead of Cambodia (112th overall) and Laos (123rd).
OSCAR-winning screenwriter Paul Haggis is under house arrest in southern Italy on charges of sexual assault and aggravated personal injury, accusations that the Canadian director denies, his lawyers said on Monday.
“Mr. Paul Haggis was detained on Sunday with an emergency measure issued by the Brindisi prosecutors and is now under house arrest in Ostuni. He will be questioned by Thursday by a judge who will have to decide whether or not to confirm the detention,” his Italian lawyer Michele Laforgia told Reuters.
Mr. Haggis was charged with forcing a woman to have sexual intercourse over two days in Ostuni, Italy, public prosecutors in Brindisi said in a statement on Sunday.
“Under Italian law, I cannot discuss the evidence. That said, I am confident that all allegations will be dismissed against Mr. Haggis,” Mr. Haggis’ personal attorney Priya Chaudhry said in a statement.
Both lawyers said Mr. Haggis was pleading innocent and would cooperate with the authorities.
“A young foreign woman was forced to seek medical care” following the sexual relations, the prosecutors said in the statement.
They said that on Sunday after the alleged assault that the male suspect accompanied the woman to Brindisi airport, where she was left despite her “precarious physical and psychological conditions.” Prosecutors did not name Mr. Haggis and referred to the suspect by his initials.
An investigative source told Reuters the unidentified woman will be questioned in the coming 10 days in what is known in Italy as an evidentiary incident, setting out evidence for a possible future trial.
Mr. Haggis, 69, wrote Million Dollar Baby and co-wrote and directed crime drama Crash. He won two Oscars for Crash — one for Best Picture and one for Best Original Screenplay.
In 2018 he denied accusations of sexual misconduct made by four women, including two who accused him of rape.
Mr. Haggis was in Ostuni to hold several classes at the Allora Fest, a new film event being launched by Los Angeles-based Italian journalist Silvia Bizio and Spanish art critic Sol Costales Doulton that is set to run from June 21 to June 26.
The Allora Fest said they “learned with dismay and shock the news,” adding that the festival’s directors “immediately proceeded to remove any participation of the director from the event.” — Reuters
TECHNOLOGY company Microsoft Philippines announced on Tuesday that it was tapped by Security Bank Corp. to help build innovative solutions aimed at ensuring faster and customer-centric banking experience.
“Today, Security Bank’s sales operation process, from preparing proposals to approvals, is fully digital and streamlined,” the company said in an e-mailed statement.
Microsoft noted that Security Bank, a private domestic universal bank, had conducted extensive analyses to identify challenges in its clients’ operations.
“Preparing, completing, and securing approval for sales proposals was one of the growth areas identified, as document handling was done manually, adversely impacting the sales team’s productivity,” Microsoft said.
With Microsoft’s technology and support, the bank developed its Sales Proposal Builder (SPB) application and embedded it into Microsoft Teams, a collaboration platform.
“Embedding SPB into Microsoft Teams made it seamless and easy for the sales team to leverage the new platform,” the technology company said.
“Security Bank has been utilizing Microsoft solutions such as SharePoint and Office 365 for collaboration and Microsoft Teams as its primary communication tool.”
“Part of what makes the SPB application a flexible, scalable and cost-effective solution is that it is hosted on Microsoft Azure. The built-in service Logic apps in Microsoft Azure enable Security Bank to automate document generation and uploading of files to SharePoint,” the company added.
At the same time, the company said that the bank, which has 316 branches, has also benefitted from Azure’s Deployment Slots, which allow it to easily update a solution without any upfront costs.
On the impact of this innovation on the bank’s sales operations, the company said: “With the SPB app, proposal preparation now takes only 15-30 minutes from a previous average of two hours, while the approval process from different internal groups now takes about 24 hours where previously it took two weeks.” — Arjay L. Balinbin
