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Is there still hope?

PHILIPPINE STAR/EDD GUMBAN

• In the sphere of morality, we sense widespread confusion, indifference, apathy and helplessness because of murderous attacks against life, particularly against innocent ones. The culture of impunity, self-entitlement and loss of sense of sin is alarming.

• In ecology, we are constantly traumatized by the effects of disasters and tragedies due to climate emergencies, worsened by substandard and underfunded structures. Private interests are protected over the common good and the welfare of the marginalized, including indigenous peoples and poor communities.

• In the area of economy, increasing poverty, manifested by the rise of unemployment and prices of commodities and services, leads to a situation where the rich become richer, the poor become poorer and the powerful become more powerful.

• In the political realm, the scandalous misuse of public funds and resources; the questionable insertions, cuts, and adjustments in the national budget; and anti-poverty programs that promote a culture of patronage and mendicancy are truly disturbing. As the elections draw near, we see how platforms of popularity, dynasty and patronage are again exploited, making politics into a family business.

• In the area of security and international concerns, we witness how our sovereignty and national security are constantly threatened.

• In the field of communications, falsehood, misinformation and disinformation are weaponized against the truth.

• In the area of governance, we wonder whether there are still checks and balances.

May pag-asa pa nga ba? (Is there still hope?)

It might be the frenzied cacophony of voices of many Filipinos nowadays, some angry, some perplexed and incredulous, some crying out in pain in anxieties for what and where the country seems to be recklessly careening towards in the dark future.

The crescendo of protests peaked in two rallies held on Friday, Jan. 31 at the EDSA People Power Revolution monument, along White Plains Avenue in Quezon City. “Among the groups that participated in the rally were Akbayan, Magdalo, Tindig Pilipinas and the family of victims in the Duterte administration’s bloody drug war. Most of them wore white shirts and carried placards and banners calling to oust the Vice President over alleged misuse of confidential funds — an allegation Duterte previously denied,” ABS-CBN News reported that day.

The morning’s program featured a mass, followed by statements from impeachment complainants, sectoral leaders and cultural presentations. Organizers estimated about 10,000 attending the rally. (But police estimate was lower, at about 4,000 attendees as of 11 a.m.).  Another rally at the same EDSA shrine started at 2 p.m., echoing the same call for the impeachment of Vice-President Sara Duterte, while also criticizing the 2025 national budget. It was led by the Clergy and Citizens for Good Governance, the news networks reported.

Yes, the Catholic clergy is now more openly involved in protests against the government and has made more direct calls to action by the people. Priests and nuns have been participating in rallies.  The litany of sins and omissions of the state and political leaders above, and the confluence of economic and socioeconomic challenges, was recited by Pablo Virgilio “Ambo” S. Cardinal David, bishop of Caloocan and president of the Catholic Bishops Conference of the Philippines (CBCP), in a pastoral letter to the faithful, read by parish priests in homilies at Sunday Mass on Feb. 2, the Feast of the Presentation of the Lord Jesus in the Temple.

Is it “hoping against hope?” (c.f. Romans 4:18), Cardinal Ambo asks. “‘Abandon hope all ye who enter here…’ are the haunting words written at the entrance of the descent into hell in Dante Alighieri’s L’inferno… but what Dante was writing about in the context of his time’s political turmoil and moral decay can mirror today’s Filipino people wrestling with hopelessness, striving to find hope amidst adversities,” Cardinal Ambo laments.

“We, your spiritual leaders, share the pain brought about by these wounds of affliction. We, too, feel the deep disturbance and seeming paralysis that plague many who are dragged into the pit of hopelessness. In this Jubilee Year of Hope, together we hold precious, the gift of hope sparked by the Holy Spirit. This hope is not simply optimism or a positive feeling. These are glimpses of the gift of hope that comes from the Holy Spirit urging us to act,” he adds.

“We call upon all leaders, as we fervently remind ourselves, to breathe the spirit of sincerity of God-directed service, breathe transparency and accountability. We call upon our young people, to share your single feather to become your wings for a better world. Stand up for change and responsible leadership for the present and future of our country. We call upon our dear faithful, in government, in business, in public or religious communities, to harness a tempest of change by a sincere witness to our Christian values and fidelity to conscience. May we safeguard our dignity and our future by not selling them to the highest bidder.”

Cardinal Ambo’s pastoral letter May Pag-asa pa nga ba? (Is there still Hope?) is written in the awareness of the Jubilee Year of Hope, 2025, formally opened on Dec. 29, 2024, as declared by Pope Francis in his bull of indiction, Spes Non Confundit (Hope does not disappoint), issued on May 9, 2024 in Rome.

Spes Non Confundit was written in the raging tempests of May 2024. On Feb. 24, 2022, Russia invaded Ukraine in a major escalation of the Russo-Ukrainian war, which started in 2014. The invasion, the largest and deadliest conflict in Europe since World War II, has caused hundreds of thousands of military casualties on both sides, and tens of thousands of Ukrainian civilian casualties.  The Gaza war has been fought between Israel and Hamas-led Palestinian militant groups in the Gaza Strip and Israel since Oct. 7, 2023. The fifth war since 2008 in the Gaza–Israel conflict, it is the most significant military engagement in the region since the Yom Kippur war in 1973, and sparked an ongoing Middle Eastern crisis. The first day of the war was the deadliest for Israel, and it is the deadliest war for Palestinians in the history of the conflict.

The two major wars are still devastating the warring peoples and threatening world peace. “The first sign of hope should be the desire for peace in our world, which once more finds itself immersed in the tragedy of war. Heedless of the horrors of the past, humanity is confronting yet another ordeal, as many peoples are prey to brutality and violence. What does the future hold for those peoples, who have already endured so much? How is it possible that their desperate plea for help is not motivating world leaders to resolve the numerous regional conflicts in view of their possible consequences at the global level? Is it too much to dream that arms can fall silent and cease to rain down destruction and death? The need for peace challenges us all and demands that concrete steps be taken. May diplomacy be tireless in its commitment to seek, with courage and creativity, every opportunity to undertake negotiations aimed at a lasting peace,” Pope Francis prays.

Pope Francis said “uncertainty about the future may at times give rise to conflicting feelings, ranging from confident trust to apprehensiveness, from serenity to anxiety, from firm conviction to hesitation and doubt… (people) are discouraged, pessimistic and cynical about the future, as if nothing could possibly bring them happiness. For all of us, may the Jubilee be an opportunity to be renewed in hope. God’s word helps us find reasons for that hope.”

“We, too, feel the deep disturbance and seeming paralysis that plague many who are dragged into the pit of hopelessness. In this Jubilee Year of Hope, together we hold precious, the gift of hope sparked by the Holy Spirit. This hope is not simply optimism or a positive feeling. These are glimpses of the gift of hope that comes from the Holy Spirit urging us to act, Cardinal Ambo says of our dire situation in the Philippines:

• We see sparks of hope in principle-driven leaders who champion good governance.

• We see sparks of hope in the idealism of young people and responsible citizens who do not sell their idealism and patriotism.

• We see sparks of hope in the spontaneous collaboration among NGOs, civic and religious organizations with the government in times of disasters and calamities.

• We see sparks of hope in local initiatives and efforts to empower communities for change.

• We see sparks of hope in public, religious, uniformed and civic leaders, and ordinary laborers committed to sincere service even without recognition or reward.

• We see sparks of hope in responsible business practices that seek to protect the environment and serve the needy.

• We see sparks of hope in those who stake their reputation, even their lives, to fight corruption and pursue justice.

• We see sparks of hope in the Filipino spirit of resiliency, and in those who dedicate themselves to genuine service despite being overwhelmed by their own need.

We sense a strong surge of hope, above all, in the feeling of uneasiness and disturbance — symptoms of an inner affliction,  prodding us that something is wrong, yet at the same time urging us that something can and must be done within, among ourselves, and our institutions…through the Holy Spirit that has been given to us.” (Romans 5:5)

May pag-asa pa ang Pilipinas (There’s still hope for the Philippines).

 

Amelia H. C. Ylagan is a Doctor of Business Administration from the University of the Philippines.

ahcylagan@yahoo.com

Kia PHL sees stable car prices via South Korea FTA

PHOTO FROM KIA PHILIPPINES

KIA PHILIPPINES said the free trade agreement (FTA) with South Korea will help car manufacturers stabilize product pricing despite foreign exchange risks.

“There’s still going to be excise [taxes], but the import duties would be at zero,” Kia Philippines Chief Operating Officer Brian James B. Buendia told reporters on the sidelines of the launch of the Kia Sorento Turbo Hybrid last week.

When asked if the FTA could lead to lower prices for Korean cars, he noted that apart from import duties, the automotive industry closely monitors foreign exchange movements.

“There’s another issue, which is the forex. The projected forex, and we deal with the US dollar, will be up to $59. So that’s an issue, because when we were doing our budget, it was only at $57-58. So now we have to recalibrate,” he said.

“One opportunity is, yes, we will not lower the price, but we will not increase the price too even with the forex. So those are the things that are actually being studied,” he added.

Despite this, he said that the company is looking at how it can take advantage of the FTA as Kia Philippines expands its electric vehicle (EV) lineup.

“We are now also scanning for some advantages that we can maximize,” he added.

Aside from the FTA with South Korea, he said that the company hopes for the executive order (EO) for the lowered tariffs for all types of electric vehicles to be retained amid its review.

“I think what’s working for Kia now is the current tariffs. Whatever the adjustments that will be made, then we would have to plan for it again,” he said.

“But I hope they just keep it the way it is for now. Because you can’t really change the rules within the game. They just keep on changing. I hope they… just let it pass through 2028, I think,” he added.

Last year, President Ferdinand R. Marcos, Jr. signed EO 62, which modified the nomenclature and rates of import duty on various products.

A part of which covered the expansion of the reduced Most Favored Nation tariff rates of the products covered under EO 12 to other battery EVs, hybrid EVs, plug-in hybrid EVs, and certain parts and components.

It temporarily reduced tariffs on EVs to zero until 2028. — Justine Irish D. Tabile

Yields on BSP securities end mixed

BW FILE PHOTO

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) short-term securities ended mixed on Friday with the two-month tenor going undersubscribed for a second straight week.

The BSP bills fetched bids amounting to P205.117 billion on Friday, above the P170-billion offer and the P185.96 billion in tenders for the same volume auctioned off in the previous week.

Broken down, tenders for the 28-day BSP bills reached P110.309 billion, higher than the P70-billion offer and the P88.323 billion in bids for same volume auctioned off the week prior.

Banks asked for yields ranging from 5.725% to 5.799%, narrower than the 5.7% to 5.839% band seen a week earlier. This caused the average rate of the one-month securities to decline by 5.48 basis points (bps) to 5.7571% from 5.8119% previously.

Meanwhile, bids for the 56-day bills amounted to P94.808 billion, below the P100-billion offering and the P97.637 billion in tenders for the same volume offered by the central bank in the previous week. The BSP accepted all the submitted bids.

Accepted rates for the two-month tenor were from 5.763% to 5.9%, narrower than the 5.73% to 5.9% margin seen a week prior. With this, the average rate of the securities inched up by 0.93 bp to 5.8141% from 5.8048% logged in the previous auction.

The central bank made a partial award of its offering of short-term securities as the two-month BSP bills (BSPB) went undersubscribed, BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

“Total tenders received increased to P205.117 billion from P185.96 billion, with the 28-day BSPB 1.58 times oversubscribed while the 56-day BSPB was undersubscribed with a bid-to-cover ratio of 0.95 times.”

“The BSP fully awarded its offering for the 28-day BSPB and accepted the P94.808-billion worth of total tenders for the 56-day BSPB.”

The central bank uses the BSP securities and its term deposit facility to mop up excess liquidity in the financial system and to better guide market rates.

The BSP bills were calibrated to not overlap with the Treasury bill and term deposit tenors also being offered weekly.

Data from the central bank showed that around 50% of its market operations are done through the short-term BSP bills.

Short-term instruments offer more stability and predictability, the BSP has said. These are also considered “high-quality liquid assets” and grants more flexibility for banks versus term deposits, which are not tradable. — Luisa Maria Jacinta C. Jocson

Working group formed to draft rules on ruminant diseases

DAR.GOV.PH

THE Department of Agriculture (DA) said it is looking to create guidelines to prevent outbreaks of Q fever and other ruminant diseases.

In a Special Order, the DA created a technical working group (TWG) to draft guidelines, policy, and recommendations on the prevention of Q fever outbreaks.

Last year, the Philippines logged its first case of Q fever in imported goats from the US. The infected goats were in a government breeding station in Marinduque and a quarantine facility in Pampanga.

Q fever is caused by the Coxiella burnetii bacteria and is transmissible to humans. Infected people have flu-like symptoms, such as body aches and headaches.

The working group is also tasked with providing technical expertise in the surveillance and monitoring of ruminant diseases.

It is to conduct regular reviews on the management of Q fever and other diseases aligned with international guidelines.

The TWG will consist of the assistant secretary for Ruminant Livestock and representatives from the Bureau of Animal Industry, the National Dairy Authority, and the Philippine Carabao Center. — Adrian H. Halili

GAC sales up by 65% in 2024

GAC Motor Philippines sold 301 units of the M6 Pro MPV in 2024. — PHOTO BY KAP MACEDA AGUILA

ASTARA-OVERSEEN GAC Motor Philippines reported 2024 sales of 3,207 units representing 65% year-on-year sales growth from 1,943 units delivered in 2023. Pacing sales is the GS3 Emzoom crossover, which alone moved 2,089 units. Meanwhile, 301 units of the M6 Pro MPV were sold, along with 225 M8 MPVs. Said Astara Philippines Country Manager Luis Torres: “More than 3,000 Filipinos have partnered with GAC Motor and Astara Philippines in 2024, a powerful affirmation of our shared vision for the future of mobility. We are grateful for their trust and look forward to a continued collaboration, delivering unparalleled mobility solutions that redefine the driving experience.”

GAC Motor also offers the sporty Empow sedan and the Emzoom crossover, along with the Emkoo crossover which comes with either purely ICE (internal combustion engine) or hybrid powertrains. In a release, GAC Motor Philippines said that “every GAC Motor vehicle is equipped with advanced safety features and cutting-edge technology, making it a top choice for discerning consumers who value innovation and reliability.”

There are now 31 GAC Motor locations nationwide, with more set to open this year. This strategic growth ensures greater accessibility for customers across the Philippines, alongside a five-year/150,000-kilometer warranty and free 24/7 emergency roadside assistance for the first year of ownership.

For more information, visit https://gacmotorph.com/, or like and subscribe to the company’s Facebook and Instagram pages (@gacmotorph).

Gov’t debt yields decline on steady Jan. inflation

YIELDS on government securities (GS) traded on the secondary market mostly declined last week following the release of data showing that Philippine headline inflation was broadly steady last month.

GS yields, which move opposite to prices, went down by 5.17 basis points (bps) last week, based on data from PHP Bloomberg Valuation Service Reference Rates as of Feb. 7 published on the Philippine Dealing System’s website.

Rates of all benchmark tenors ended lower week on week except for the 364-day Treasury bill (T-bill), which inched up by 0.83 bp to yield 5.7201%.

At the short end, yields on the 91- and 182-day T-bills went down by 10.89 bps (to 5.1697%) and 2.60 bps (5.4959%), respectively.

At the belly, rates of the two-, three-, four-, five-, and seven-year Treasury bonds (T-bond) decreased by 1.32 bps (to 5.7769%), 4.15 bps (5.8343%), 5.86 bps (5.8786%), 6.88 bps (5.9184%), and 8.63 bps (5.9968%), respectively.

Lastly, at the long end of the curve, yields on the 10-, 20-, and 25-year debt papers declined by 11.10 bps (to 6.1178%), 3.38 bps (6.3464%), and 2.9 bps (6.3011%), respectively.

GS volume traded reached P38.39 billion on Friday, higher than the P30.65 billion recorded a week prior.

Traders said government debt yields went down following the release of the January inflation report.

“With Philippine inflation remaining steady in January, bond yields fell across the board as the release both eased domestic inflationary concerns and bolstered expectations for a BSP (Bangko Sentral ng Pilipinas) policy rate cut [this] week,” the first bond trader said in a Viber message.

“The bond market got a boost from the relatively steady CPI (consumer price index) print… The Philippine CPI data gives space for BSP to cut rates on Thursday,” the second bond trader likewise said in a Viber message.

Philippine headline inflation remained steady in January as lower utility costs offset a spike in food prices, preliminary data from the Philippine Statistics Authority (PSA) showed.

The CPI rose 2.9% year on year in January, the same as December. It also settled within the 2.5%-3.3% forecast of the Bangko Sentral ng Pilipinas (BSP).

However, the January print was slightly higher than the 2.8% median estimate in a BusinessWorld poll of 16 analysts.

The BSP said following the data release that it will continue to monitor risks to the inflation outlook and maintain a “measured approach” to policy easing.

BSP Governor Eli M. Remolona, Jr. earlier said that a rate cut is “on the table” at the Monetary Board’s Feb. 13 policy meeting, adding that they may slash benchmark interest rates by a cumulative 50 bps this year in a gradual manner as “policy insurance” against risks.

The Philippine central bank has cut borrowing costs by 75 bps since kicking off its easing cycle in August last year, bringing the policy rate to 5.75%. 

“In addition to the weaker-than-feared Philippine inflation in January, the easing US dollar has also supported lower BVAL and US Treasury yields,” the first bond trader said.

The second bond trader added that US President Donald J. Trump’s decision to pause its planned tariffs on Canada and Mexico contributed to the week-on-week decline in GS yields.

Mr. Trump earlier announced tariffs of 25% on Canada and Mexico but delayed them after a negative reaction from investors, Reuters reported. The two largest US trading partners agreed to increase enforcement efforts at the border, a top Trump priority.

On Friday, Mr. Trump said he plans to announce reciprocal tariffs on many countries by Monday or Tuesday this week, a major escalation of his offensive to tear up and reshape global trade relationships in the US’ favor.

Mr. Trump did not identify which countries would be hit but suggested it would be a broad effort that could also help solve US budget problems.

The move would fulfill Mr. Trump’s campaign promise to impose tariffs on American imports equal to rates that trading partners impose on American exports.

The US trade-weighted average tariff rate is about 2.2%, according to World Trade Organization data, compared to 12% for India, 6.7% for Brazil, 5.1% for Vietnam and 2.7% for European Union countries.

For this week, GS yields may continue to go down on expectations of “potentially softer US consumer inflation reports and potentially dovish remarks from the BSP policy meeting,” the first trader said.

US CPI data will be released on Feb. 12 (Wednesday).

The second bond trader added that US jobs data released last week, developments in the Trump administration’s tariff policies, and results of the Bureau of the Treasury’s (BTr) T-bill and T-bond auctions could affect local bond yield movements.

The BTr will offer P22 billion in T-bills on Monday. On Tuesday, it will auction off P30 billion in reissued 10-year bonds with a remaining life of seven years and seven months. — Kenneth H. Hernandez with Reuters

Move for a healthy heart

ROBINA WEERMEIJER-UNSPLASH

A sedentary or physically inactive lifestyle increases a person’s risk for heart disease, as well as many other conditions and ailments. As the country observes Philippine Heart Month, it is important to emphasize the vital role of regular physical activity in maintaining a healthy heart.

The World Health Organization (WHO) recommends that children and adolescents aged five to 17 years should do at least 60 minutes of moderate to vigorous intensity physical activity daily, and activities that strengthen muscle and bone, at least three times a week.

Adults aged 18 to 64 years should do at least 150 minutes of moderate-intensity physical activity throughout the week, or do at least 75 minutes of vigorous intensity physical activity, or an equivalent combination of both. For additional health benefits, adults should increase their moderate intensity physical activity to 300 minutes a week, or equivalent. Muscle-strengthening activities should be done involving major muscle groups on two or more days a week.

Adults aged 65 years and above should do at least 150 minutes of moderate-intensity physical activity throughout the week, or at least 75 minutes of vigorous intensity physical activity, or an equivalent combination of both. For additional health benefits, they should increase moderate intensity physical activity to 300 minutes a week, or equivalent. Those with poor mobility should perform physical activity to enhance balance and prevent falls, three or more days a week. Muscle-strengthening activities should be done involving major muscle groups, two or more days a week.

Moderate intensity physical activities include brisk walking, water aerobics, dancing, gardening, tennis, and biking. Vigorous intensity physical activities include hiking uphill or with a heavy backpack, running, swimming laps, vigorous aerobic dancing, heavy yardwork such as continuous digging or hoeing, tennis, cycling and jumping rope.

However, the first WHO “Global status report on physical activity” released in October 2022 revealed that many Filipinos, particularly adolescents, are sedentary. About one in three (30%) Filipino men 18 to 69 years old, almost half (49%) of Filipino women 18 to 69 years old and over 90% of Filipino adolescents 11 to 17 years old do not meet the WHO’s recommended levels of physical activity. Among Filipinos aged 70 and older, 44% of males and 65% of females do not measure up to the WHO standard.

Inadequate physical activity is likely one of the reasons why about 27 million Filipinos are overweight and obese, based on the latest survey of the Department of Science and Technology (DoST) Food and Nutrition Research Institute. For the past two decades, excessive weight and obesity among Filipino adults has almost doubled from 20.2% in 1998 to 36.6% in 2019. Excessive weight and obesity among Filipino adolescents have more than doubled from 4.9% in 2003 to 11.6% in 2018. If no action is taken, the overall rates of excessive weight and obesity will continue to rise, with more than 30% of Filipino adolescents projected to be overweight and obese by 2030.

Furthermore, a sedentary lifestyle among many Filipinos, coupled with other risk factors such as unhealthy food choices and tobacco use, contribute to the heavy burden of cardiovascular diseases — diseases of the heart and blood vessels — which account for a third of deaths in the Philippines. Coronary heart disease, also known as ischemic heart disease, is one type of cardiovascular disease involving heart damage caused by narrowed heart arteries. Coronary heart disease was the leading cause of death in the country in 2023, claiming the lives of nearly 108,000 Filipinos or 19% of the total deaths in the country that year.

The American Heart Association (AHA) advises people not to let all-or-nothing thinking keep them from doing what they can every day, stressing that any amount of movement is better than none. The simplest way to get moving and improve your health is to start walking — it’s free, easy and can be done just about anywhere, even in place, says the AHA. For example, taking a brisk walk for five or 10 minutes a few times a day will add up.

Experts recommend simple but effective ways to incorporate physical activity in your daily routine. These include taking the stairs instead of the elevator when going one or two floors up, and climbing instead of riding the escalator. Parking your vehicle farther away from your destination, and washing your car at home instead of taking it to the carwash will also be helpful. Further, jogging in place, lifting weights, or walking on the treadmill while watching TV can be beneficial. Walking or biking when running errands is also one of the recommendations. Finally, planning family outings that involve being active, like hiking, swimming or outdoor games can be effective for members of the family.

People with a chronic condition such as hypertension or heart disease, or disability should consult their doctor first about what types and amounts of physical activity are right for them before starting any physical or exercise regimen.

 

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

Manila Water enters contestable power market

PHILIPPINE STAR/GEREMY PINTOLO

EAST ZONE concessionaire Manila Water Co., Inc. has entered the contestable market, allowing it to select its own power supplier for 10 of its facilities under the expanded retail aggregation program (RAP), according to the Energy Regulatory Commission (ERC).

In a statement on Sunday, the ERC said Manila Water’s move marks the first pilot switch under the expanded RAP, which was implemented in August last year.

“It is exciting to see more consumers gaining access to the benefits of exercising their power of choice,” said ERC Chairperson and Chief Executive Officer (CEO) Monalisa C. Dimalanta. “This inspires us at the ERC to work even harder toward promoting this power and protecting consumer interests.”

Last year, the ERC issued a resolution enhancing the implementation of the RAP.

The expanded RAP allows loads from multiple end-users consuming below the 500-kilowatt threshold, located within the same franchise area and under specified conditions, to be aggregated to contract with their preferred supplier at a negotiated purchase price.

As the first-ever switched customer under the expanded RAP, Manila Water aggregated the demand from 10 facilities, primarily sewage treatment plants located within the Manila Electric Co. (Meralco) franchise area, to meet the threshold.

“Manila Water is proud to be trailblazing with the government to improve the lives of its customers. By working with the ERC to introduce innovative amendments to the retail aggregation program, we have expanded customer choice and lowered power rates through negotiated tariffs,” said Manila Water President and CEO Jose Victor Emmanuel “Jocot” A. de Dios.

“By leading this breakthrough, we not only secure cost-efficient energy to run our water and wastewater treatment plants — which will ultimately benefit our customers — but also pave the way for a more sustainable and competitive energy market that benefits the country,” he added.

Citing its records, the ERC said that retail market prices in 2024 averaged P5.77 per kilowatt-hour (kWh), with the lowest price recorded at P3.50 per kWh.

“With this pilot switch, more groups are expected to transition to the contestable market under the RAP in the coming weeks, further advancing retail competition in the energy sector,” the commission said. — Sheldeen Joy Talavera

Amazon cuts reference to diversity from annual report as Trump wages war on DEI

REUTERS

AMAZON.COM removed a reference to “inclusion and diversity” in its annual report filed on Thursday, after it told employees in a December memo that it was winding down its programs as part of corporate America’s broader retreat from such policies.

Some of America’s biggest businesses have been scaling back diversity initiatives, years after pushing for more inclusive policies in the wake of protests against the police killings of George Floyd and other Black Americans in 2020.

President Donald J. Trump and his administration have targeted diversity, equity and inclusion (DEI) policies inside and outside the government. Attorney General Pam Bondi on Wednesday in a note to staff said the Justice Department would “investigate, eliminate, and penalize” illegal diversity programs in the private sector.

For the last two years, Amazon’s “human capital” section of its annual report said: “As we strive to be Earth’s best employer, we focus on investment and innovation, inclusion and diversity, safety, and engagement to hire and develop the best talent.”

In the 2024 version, that sentence has been cut.

The company also cut a reference to a goal to “promote equity” in a sentence about continuing efforts to refine employee hiring and development.

Amazon’s website states it is “committed to creating a diverse and inclusive company.

In December, Amazon executive Candi Castleberry said in a letter to employees that it is “winding down outdated programs and materials” related to DEI by the end of 2024. As part of the change, individual groups would no longer be responsible for building programs and initiatives would be integrated into “existing processes.”

“Rather than have individual groups build programs, we are focusing on programs with proven outcomes — and we also aim to foster a more truly inclusive culture,” Ms. Castleberry said in the note.

Amazon did not comment on whether it would remove or rename DEI employee positions.

Big technology companies Meta Platforms and Alphabet’s Google are among those rolling back programs in the face of attacks from conservative groups, who have threatened to sue firms over them.

Disney’s annual report, which was published in September, removed mentions of its “Reimagine Tomorrow” program, which was an online space for “amplifying underrepresented voices” featuring some of Disney’s diversity, equality and inclusion commitments and actions. However, it added a DEI initiative to hire US military veterans.

Twelve state attorneys general, including New York, California and Washington, last week issued a joint statement in opposition to Mr. Trump’s characterization of DEI saying they are “committed to enforcing federal and state civil rights laws to protect” workers from discriminatory practices. — Reuters

US farmers turn to Airbnb to outlast agricultural downturn

REUTERS

BLANCHARDVILLE, Wisconsin — A dead end dirt road cutting through rural Wisconsin leads to a pasture dotted with shaggy-coated Highland cattle, fluffy Icelandic sheep and a vintage Airstream trailer that farmer Brit Thompson turned into an Airbnb to capitalize on an explosion of urbanites looking to spend time in the countryside.

Her guests, mostly Chicago-area professionals, offer a steady flow of income in an increasingly unstable agricultural economy.

Ms. Thompson, who also raises animals for meat at her farm, Pink River Ranch, is one of many farmers turning to the $4.5-billion agricultural tourism industry, according to US Department of Agriculture (USDA) data, and offering activities and overnight stays as consumer demand for rural experiences grows and farm income declines.

Farmers whose crops are used to make food, feed livestock and produce vegetable oils are struggling to turn a profit after corn and soy prices sank to four-year lows in 2024.

Revenue from Ms. Thompson’s Airbnb has helped her endure volatile commodities markets and far outpaced what she made from selling beef and lamb to restaurants and directly to consumers, she said. Free-roaming tabby cats on her property are now accustomed to the sound of guests’ tires crunching on the gravel driveway and come running toward those bringing in the extra income — and the extra affection.

The guests arrive nearly every weekend during her peak season, drawn by the area’s spring-fed and trout-rich streams, forested hiking trails and unpolluted night skies. Ms. Thompson’s bookings soared as nearby cities shut down during the pandemic.

Agritourism boomed during COVID as people chose to vacation on farms and in rural areas, drawn by the promise of socially distanced fun in the countryside. The industry has continued to grow since, driven by increasing numbers of city dwellers seeking peace and solitude and farmers seeking additional ways to infuse their farms with much-needed cash.

“Now that we’re back to normal, people are still remembering those experiences and they’ve brought those activities into their family traditions,” said Suzi Spahr, director of the International Agritourism Association.

Nationally, about 7% of farms offer agritourism opportunities, which also includes sales of farm products to visitors, said Lisa Chase, an extension professor at the University of Vermont.

Many increased their revenue by $25,000 to $100,000 per year through agritourism enterprises, and some farms can make upwards of $1 million a year from running bed-and-breakfasts, pick-your-own apple orchards and other farm experiences, she said.

The number of farmstays, an accommodation at a farm, listed on short-term rental platforms in the US increased by 77% over the past five years, roughly twice the increase in overall listings, data firm AirDNA said. Airbnb, as well as popular campsite booking websites HipCamp, Harvest Hosts and The Dyrt, also said their platforms have seen substantial increases in farmstay listings over the past few years.

Agritourism dollars are a welcome boon in the face of low crop prices, high interest rates, and steep costs for seeds, fertilizer and labor, farmers and industry experts said. Farm income has dropped 23% from 2022 in one of the biggest declines in history, according to the USDA, and the American Farm Bureau says the agricultural economy is in a recession.

While US farm income is expected to improve this year, the upturn is largely due to federal government aid. Income from selling crops has continued to decline.

This year could bring further financial pain for farmers if trade wars with Canada, Mexico and China are prolonged. President Donald Trump announced tariffs on goods from the three countries on Feb. 1, but later offered a 30-day reprieve to Canada and Mexico after those countries offered some concessions.

“We’re able to weather some of these tighter or negative margin years because we’ve diversified the way we earn money,” said Kaylee Heap, 35, co-manager of Heap’s Giant Pumpkin Farm, a sprawling corn and soybean farm in Illinois.

“It’s the reason we diversified. If we just focused on row crops, we’d be having a different conversation.”

In the fall, Heap’s customers can pick sunflowers, mums and pumpkins; bump along on hayrides; and wander through a corn maze. The farm also produces commodity corn and soy, often for international export.

Not all farms are suited for tourism. Some have inaccessible locations or owners who are unwilling to open their property to strangers. Insurance and compliance with government regulations can also be costly.

But income from recreation and tourism can help families maintain ownership of their farms, pay off debt and provide jobs to younger generations, who sometimes prefer curating Airbnbs and building websites over monitoring soil moisture and grain futures prices, farmers said.

“You cannot survive as a family farm only farming,” said Catherine Topel, 56, a North Carolina hog producer who hosts an Airbnb cabin and campsites through HipCamp.

“The cabins, the camping — it makes you sustainable and resilient in hard times, and it gives you flexibility to enter into other enterprises instead of toeing the line of what your dad did and what your dad’s dad did.”

The desire to raise children in a rural setting and share their agricultural lifestyle with visitors also motivates farmers to open their property to the public, farmers said.

Ms. Thompson, 33, says she enjoys teaching guests about sustainable grazing, as well as fishing from her riverbank with her five-year-old daughter, who reels in fat catfish with a miniature hot-pink fishing rod.

“The younger generation finds the farm doesn’t have to be this long litany of depression and bad prices,” said Ryan Pesch, an extension educator at the University of Minnesota.

“They say: ‘Why don’t we do this other thing?’ They see opportunities and entrepreneurship,” he said. — Reuters

Boats, bikes, and automobiles

Suzukis on two and four wheels — PHOTO BY DYLAN AFUANG

‘One Suzuki’ event marks 50th year of mobility brand in PHL

By Dylan Afuang

ABOARD speed boats traveling further away from the shore, we beheld a beautiful sight: To our right, the hilly coastline of Nasugbu, Batangas lined by trees and rows of huts, houses, and low buildings. Below us and to our left, the sea seemed to extend endlessly until it met the sky, which the sunset had painted purple and orange, and washed the horizon with a hazy hue.

This was the “One Suzuki Kick-Off Ride” event, staged by Suzuki Philippines, Inc. (SPH) to mark its 50th anniversary in the country. It brought together media practitioners and content creators covering the automobile and motorcycle industries to see and feel the Batangas land- and waterscapes, by way of Suzuki’s machines across its three divisions — motorcycle, vehicle, and marine engine.

The Japanese car maker’s local arm also took to the two-day trip to announce its achievements and hint on plans — such as its 2024 sales growth and the introduction of electrified vehicles. In 1975, Suzuki Japan established a joint venture with a Philippine-based company that began distributing automobiles in 1988.

At SPH’s manufacturing plant in Canlubang, Laguna, motorcycle media donned their helmets and safety jackets and automotive media buckled up, before riding and driving Suzuki bikes and cars along provincial highways and mountain roads going to Nasugbu, Batangas. At our seaside destination, we hopped aboard Suzuki engine-powered boats and met the calm waters.

“Suzuki Automobiles (Philippines) achieved 10% growth in 2024, surpassing the industry average,” SPH Automobile Division Director and General Manager Norihide Takei announced. “This reflects the trust and love Filipinos have for Suzuki vehicles, from the iconic Jimny Three-Door to our latest innovations, the Jimny Five-Door and the XL7 Hybrid,” Mr. Takei added.

Four-wheel media relished the climate-controlled comforts of that five-door SUV and seven-seat crossover, while the two-wheel gearheads enjoyed the agility of the Raider R150 Fi, Smash Fi, the Burgman and Gixxer series, and the V-Strom 250 SX. Our speed boats were powered by Suzuki Twin DF300 and DF350s engines.

Based on the executive’s message, we can speculate that the 50-year-old company could introduce an electrified Suzuki car this year. “During the (2024) Philippine International Motor Show (PIMS), we showcased the eVX, our electric vehicle concept. Now known as the eVitara, this represents our vision of a sustainable and exciting future of mobility. This year, as (SPH celebrates) 50 years, expect surprises and opportunities as we continue to grow and evolve,” Mr. Takei promised.

As for the transport brand’s momentum, SPH Managing Director Norminio Mojica said, “Suzuki is within the top five automotive brands in the Philippines across all divisions, with over 4,200 network outlets nationwide. This success is not just due to our quality products, but also to the strong relationships we’ve built with our dealer network.”

Motorcycles remain at the core of the company’s growth. “Suzuki’s journey in the Philippines started with motorcycles in the 1950s,” SPH Motorcycle Division Head Jose Salavarria began. “Today, we have 30 models in our lineup, 12 of which are proudly manufactured in the Philippines. Our Laguna plant caters not only to local demand, but also to export markets in neighboring Asian countries.”

Suzuki Marine in the Philippines, meanwhile, had organized coastal cleanup drives to rid local waters of plastic waste. The Clean Ocean Project had been conducted in Manila Bay, and oceans in La Union, Bohol, and Davao, company promotions revealed.

SPH begins its year-long celebration of its 50th with the One Suzuki Kick-Off Ride, and it’s “gearing up for an even bigger anniversary event in the middle of 2025,” the company teased.

Real GDP per person employed in the Philippines in 2024

The country’s labor productivity — as measured by gross domestic product (GDP) per person employed — grew by 4.5% year on year to P456,342 in 2024. This was faster than the 2.7% a year earlier and the fastest in seven years or since the 8.7% in 2017.

Real GDP per person employed in the Philippines in 2024

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