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Petition to extend safeguard measures for cement rejected

PHILSTAR FILE PHOTO

THE Department of Trade and Industry (DTI) said it rejected a petition to extend safeguard measures on cement imports after a finding of no “serious injury” to the domestic cement industry from the expiry of the measures.

The DTI released on its website on Wednesday Department Administrative Order (DAO) No. 22-14 signed by Trade Secretary Alfredo E. Pascual on Oct. 24, which cited the recommendation of the Tariff Commission (TC) to not extend safeguard measures. 

Republic Act No. 8800 or the Safeguard Measures Act authorizes safeguard measures to protect domestic industries from being “unduly harmed” by imports.

“The petition for extension of general safeguard measure on imports of ordinary Portland Cement Type 1 and Blended Cement Type 1P is hereby dismissed,” according to the order.

The DTI said safeguard measures on imported cement expired on Oct. 22, after having been in force for three years.

The Cement Manufacturers Association of the Philippines, Inc. (CeMAP) had petitioned for the extension.

According to the DTI, it received the TC’s formal investigation report on the safeguard measures on Oct. 5.

The TC had found no “significant overall impairment” of the domestic cement industry that resulted in serious injury during the review period of 2019-2021.  

“There is no existence of an imminent threat of serious injury and significant overall impairment to the position of the domestic cement industry in the near future,” the TC said.

The TC added that the domestic industry maintained market standing, improved capacity, stabilized manufacturing costs, and increased profitability.

“The production output of the petitioner representing the domestic industry constituted a major proportion of the total domestic production of ordinary Portland Cement Type 1 and Blended Cement Type 1P,” the TC said.

The CeMAP has said that a non-extension “jeopardizes” the industry’s efforts to maintain operations during the coronavirus disease 2019 (COVID-19) pandemic.  

“The requested safeguard measure extension was necessary for adjustment plans to be completed in order for the industry to be ready for global competition,” CeMAP Executive Director Cirilo M. Pestaño said earlier.

The safeguard measures on the two types of cement were imposed in 2019 after the DTI issued DAO 19-13.

The safeguard duties imposed on the imported cement started out at P250 per ton in the first year of implementation and falling to P200 per ton this year.

According to the TC’s final report, Philippine Type 1 and Type 1P cement imports rose 11.2% to 5.896 million metric tons (MT) in 2020, and 16.2% to 6.850 million MT in 2021.

In the first half of 2022, Type 1 and Type 1P cement imports rose 7% to 3.5 million MT, compared to the three-year average of 3.27 million MT between 2019 and 2021. — Revin Mikhael D. Ochave

WB expects PHL climate mitigation efforts to be led by private sector

PHILIPPINE STAR/ MICHAEL VARCAS

THE Philippine climate change mitigation effort will be borne largely by the private sector, the World Bank (WB) said in a report, adding that the absence of policies optimized for unlocking private investment could erode gross domestic product (GDP) by as much as 13.6% in the worst case.

“It is absolutely key that the incentives for the private sector be put in place so they can fully take action,” Benoit Bosquet, regional director for Environment, Natural Resources and Blue Economy Global Practice at the World Bank, said on Wednesday at a virtual briefing presenting the World Bank Group’s Country Climate and Development Report for the Philippines.

“The good news is that the Philippines does have many options to address climate change which could dramatically reduce the impacts,” Mr. Bosquet added.

The World Bank’s more moderate projections for GDP erosion range from a 3.2% average loss by 2030, and 5.7% in losses by 2040.

He added that the Philippines must address both extreme and slow-onset events and provide targeted support for the most vulnerable members of society.

Climate mitigation financing is a contentious issue in developing countries, which include some suffering from the worst effects of climate change. Developing countries have taken the position that the rich world did the most to disrupt the climate when it industrialized, and bears responsibility for funding the bulk of climate mitigation efforts.

The previous Philippine government has argued for “climate justice” from developed countries, estimating that the Philippines can internally fund only a fraction of its climate-mitigation bill.

“Climate change indeed poses major risk for the development of the Philippines. Policy inaction will impose substantial economic and human costs, especially for the poor,” Mr. Bosquet said.

The report recommended that governments arrange incentives in such a way that make the benefits of climate action clear, while removing obstacles to allow the private sector to undertake climate projects. 

“We can induce farmers to adopt practices that reduce water use and emissions while increasing productivity by ensuring these practices are more profitable than the status quo. We can induce the private sector to invest in renewable energy by ensuring that renewable energy plants are more profitable than fossil fuel plants,” the report stated.

“Likewise, private sector investment in electric vehicles and energy-efficient and disaster-resilient buildings will depend on the profitability (of such projects),” it added.

“Adaptation is the key priority for the Philippines. Adaptation means reducing the risk and damage from extreme events, like typhoons. It also means reducing the risk from slow onset events like rising temperatures and we should not forget about that,” Mr. Bosquet said.

“The good news is that adaptation actions can substantially reduce the impact of climate change on the economy. Economic losses could be reduced by two-thirds by mid-century,” he added.

Typhoons have been estimated to dampen GDP by 1.2%, the World Bank said.

The report recommended avoiding new construction in vulnerable areas and increasing the energy efficiency of buildings to help urban residents deal with the effects of gradually increasing temperatures.

“Improving water storage will reduce the risk of damaging floods and droughts and, by increasing water availability, allow irrigation to be extended into rainfed areas, thus helping farmers in those areas adapt to higher temperatures,” it added.

World Bank Regional Vice-President for East Asia and Pacific Manuela V. Ferro said that the power sector is a potential driver for mitigating climate change risk.

“The Philippines is one of those countries where there is a sweet spot between climate change mitigation action and lowering the price of electricity,” she said.

“Investments in renewable energy… (that) bring costs down are very within hand. That’s a sector we see tremendous potential to do more,” she added.

Mr. Bosquet said the Philippines has the opportunity to decarbonize using solar and wind energy.

“An important aspect of this transition is that all these options reduce the current electricity generation costs. The Philippines has a high cost of electricity at the moment. Based on our analysis, we see that many of the investments that are already planned will do a great deal and the adaptation options are feasible and costly, but less costly than other countries we’ve analyzed,” he added.

According to the World Bank, most climate actions do not require legislative change but improved implementation of existing programs or changes to implementing rules and regulations.

“For example, strengthening financial sector regulators’ capacity to integrate climate risks in monitoring and supervision requires developing regulations, guidelines, and standards but no new legislation,” it added. — Luisa Maria Jacinta C. Jocson

ARB debt condonation substitute bill approved by House panel

PHILSTAR FILE PHOTO

A SUBSTITUTE bill setting the terms for the condonation of debt taken on by agrarian reform beneficiaries (ARB) was approved in committee on Wednesday.

The substitute measure allows for the condonation of all unpaid amortization and interest, including penalties and surcharges, on loans obtained under the Comprehensive Agrarian Reform Program or other programs.

Beneficiaries are to be relieved of the obligation to compensate landowners, with the government taking on the responsibility via the Agrarian Reform Fund, to be dispensed via the Land Bank of the Philippines.

The estimated cost to the government of the condonation exercise is P58 billion, said Albay Rep. Jose Ma. Clemente S. Salceda during a hearing of the House committee on agrarian reform.

The committee report was forwarded to the ways and means committee, which is chaired by Mr. Salceda, for review of the provisions involving tax.

“Condonation of ARB debt could result in increase in productivity of between 23.8% and 38.3% if productivity-enhancing interventions are increased among the lands condoned,” he said in a statement on Wednesday.

“I commit that the House committee on ways and means will hear the tax provisions, without delay. We will have this on third reading before the end of the month. We will comply with the President’s request that we pass this measure by the end of the year,” Mr. Salceda said.

Agrarian Reform Committee Chairman and Ifugao Rep. Solomon R. Chungalao said such a condonation would allow beneficiaries to mortgage the land 10 years after the law comes into force.

Mr. Chungalao was responding to a proposal by Albay Rep. Edcel C. Lagman to prohibit ARBs from selling property received under the agrarian reform program.

The Comprehensive Agrarian Reform Law of 1988 requires beneficiaries to take on a 30-year mortgage on the land at 6% interest.

In September, President Ferdinand R. Marcos, Jr. ordered one-year moratorium on ARB amortizations. — Matthew Carl L. Montecillo

PHL household spending growth seen slowing to 5.1% starting 2023

PHILIPPINE STAR/MICHAEL VARCAS

HOUSEHOLD spending growth in the Philippines is likely to settle into a 5.1% average in the 2023-2026 period, slowing from the estimated 7.6% this year, Fitch Solutions Country Risk and Industry Research said.

In a Nov. 8 report, Fitch Solutions said household spending could grow 5.5% in 2023.

“We expect household spending to outpace consumer price inflation in 2023. This will ensure real income growth and greater potential for consumer spending,” Fitch Solutions said.

According to Fitch Solutions, consumer confidence and retail sales have been slowly recovering.

“Consumer confidence in the Philippines remains low, but an examination of the previous two years shows signs of improvement,” it said.

The Bangko Sentral ng Pilipinas (BSP) reported that the third quarter consumer confidence index dropped to -12.9% from -5.2% in the preceding three months.

Fitch Solutions said this is still a significant improvement from -54.5% recorded in the third quarter of 2020, with consumer confidence improving hand-in-hand with the reopening of the economy.

“Retail sales have continued to increase from Q1 2021 onwards, albeit at a relatively slow pace. We will continue to watch both indicators and amend our forecasts when deemed necessary,” it said.

The Philippine Statistics Authority reported that household spending grew 8.6% in the second quarter, accelerating from 7.3% a year earlier.

Household consumption, which typically accounts for 70% of the economy, declined by 9.6% in 2020.

“The pandemic was responsible for a change in consumption by Filipino households from 2020 to early 2022. Due to mass unemployment, especially in the services sector, the country entered an economic recession,” Fitch Solutions said.

“Many households were forced to apply for credit and government aid in order to pay for essential items. Following the relaxation of restrictions, consumer lending has started to decline, especially with respect to salary-based loans and unsecured debt.”

According to Fitch Solutions, money sent home by overseas Filipino workers (OFWs) is an important source of income for households. Demand for OFWs will also continue to rise globally.

“In particular, there is a demand for Filipino workers skilled in jobs related to medical and health services, construction, and housekeeping,” Fitch Solutions said.

“However, we do highlight several risks to this income over the year, mostly related to the negative impact from the Ukraine-Russia conflict,” it added.

The BSP estimates that cash remittances sent through banks totaled $2.72 billion in August, against $2.60 billion a year earlier.

In the first eight months, cash remittances rose 3% year on year.

“Elevated inflation will be a risk to the forecast with respect to consumer spending in the Philippines. However, the Country Risk team expects consumer price inflation to fall from 6.8% in 2022 to 3.7% in 2023,” Fitch Solutions said.

Headline inflation surged to 7.7% in October, the highest in nearly 14 years, after coming in at 6.9% in September and 4% in October 2021. The BSP’s 2-4% target range for inflation was breached for a seventh consecutive month.

In the first 10 months, inflation averaged 5.4%, which is lower than the BSP’s 5.6% full-year forecast.

“Elevated energy prices and tightening monetary policy will result in further deceleration during the forecast period. Inflation is likely to remain elevated relative to the BSP’s target range of 2-4% and we expect the central bank to tighten monetary policy further to anchor inflation expectations,” Fitch Solutions said.

Since May, the BSP has raised rates by 225 basis points (bps), bringing the overnight reverse repurchase facility rate to 4.25%. The Monetary Board is widely expected to hike its policy rate by 75 bps at its Nov. 17 meeting.

Fitch Solutions expects the Philippines to report gross domestic product growth of 6.6% this year and 6.2% next year. — Keisha B. Ta-asan

Maynilad sets 5-year, P163-billion capex target

BW FILE PHOTO

MAYNILAD Water Services, Inc. is planning to invest P163 billion over the next five years on infrastructure projects to improve services and keep pace with population growth and climate change.

In a statement, Maynilad Chief Operating Officer Randolph T. Estrellado said P101 billion will be allotted to water projects, while about P62 billion will go towards wastewater projects.

“The bulk of the investment will go toward developing more water sources, building more pumping stations and reservoirs, and replacing old pipelines so we can deliver more water in response to the growing demand,” Mr. Estrellado said in a statement.

Mr. Estrellado said there are still some customers in the west zone that do not have 24-hour water service.

“Areas in the farthest points of our distribution network, which still have limited supply availability, stand to benefit the most once we complete the construction of additional water treatment plants,” Mr. Estrellado said.

During a public consultation on rate rebasing on Oct. 24, Maynilad proposed an increase of P13.21 per cubic meter to be implemented between 2023 and 2027.

Based on the water concessionaire’s presentation, the increase will be P3.29 per cubic meter in 2023; P6.26 in 2024; P2.12 in 2025; P0.84 in 2026; and P0.80 in 2027.

“We think it’s fair that we first deliver on that commitment before the succeeding increases are implemented,” Mr. Estrellado said.

Rate rebasing is conducted every five years, under the concession agreement between Metropolitan Waterworks and Sewerage System and water concessionaires.

During this process, concessionaires are subjected to a performance review and validation of their projected cash flows.

Rate are reset periodically to allow water suppliers to earn a return on their investments.

Metro Pacific Investments Corp., which has a majority stake in Maynilad, is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT, Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has an interest in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Keeping tax incentives intact

Registered business enterprises (RBEs) in the Information Technology – Business Process Management (IT-BPM) industry are swiftly signing up to transfer their registration to the Board of Investments (BoI) in order to continue offering work-from-home (WFH) arrangements to their workers without losing their incentives. A big thanks to our administrators for making this possible.

The BoI transfer is a welcome development for RBEs. Normally, transferring to another Investment Promotion Agency (IPA) entails the cancellation of the current registration and subsequent application for new registration with another IPA. However, deregistration is not a good option for RBEs that still have pending applications for Confirmation of Entitlement to Income Tax Holiday (ITH) which have not yet been decided upon by the IPA. Often, these applications take many years to approve due to issues like falling short of the committed investment in capital equipment or failure to substantiate ownership over the capital equipment invested in. In the absence of this confirmation, the related income from the project or activity registered prior to the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act would be subject to a 5% special Gross Income Tax instead of an ITH, in accordance with the RBE’s Registration Agreement with the IPA.

Unlike the projects and activities registered prior to CREATE where the timeline for submission of compliance requirements such as for the ITH confirmation application was accorded more leniency, new projects and activities registered under CREATE require more strict monitoring from the IPAs as to compliance with the terms and conditions imposed for registration and availment of tax incentives. IPAs are given 90 to 180 days after the statutory deadline for filing the annual income tax return of RBEs to submit the compliance report to the Fiscal Incentives Review Board (FIRB).

Given the limited timeline, how should RBEs prepare for this to avoid cancellation, suspension or withdrawal of their tax incentives?

One important point is the compliance with the target performance matrix specified under the terms and conditions of the registration of a registered project of activity. During the registration stage, applicants are required to prepare a project brief or feasibility report that contains projected financial statements of the project to be registered. This document should be carefully crafted as this will be the basis of the IPA in setting out the conditions, particularly on the investment requirement and metrics, under the Registration Agreement.

The preparers of the project brief may look at this from the point of view of the IPA or FIRB auditors. As a guide, the investment commitment in machinery and equipment is expected to be reported as part of the machinery and equipment in the RBE’s audited financial statements, and to be duly supported by invoices, entry permits and lists duly attested to by the IPA. Hence, the accounting policies on threshold amount for asset recognition, proper account classification of the project cost, and contracts to be entered into regarding the acquisition of equipment should be taken into consideration before finalizing the project brief. These preparations will help the company with issues like investment shortfalls, which will have to be justified with the IPA. If these were not considered beforehand, the RBE may conduct advance internal checks to compare the projected and actual performance and identify the reason for any variance.

Another point to consider is the requirement for transparency and all that are associated with it. RBEs should ensure the submission or implementation of the following:

1. Complete Annual Income Tax Incentives Report of the RBE’s income-based tax incentives, VAT exemptions and zero rating, customs duty exemptions, deductions, credits or exclusions from the income tax base, and exemption from local taxes;

2. Complete annual benefits report which shall include data such as the approved and actual amount of investments; approved actual employment level and job creation, including information on the quality of jobs and hiring of foreign and local workers; approved and actual exports and imports; domestic purchases; profits and dividends payout; and all taxes paid, withheld and foregone;

3. Annual reports of beneficial ownership of the organization and related parties;

4. Installation of an adequate accounting system that will identify the investments, revenues, costs and profits or losses of each registered project or activity undertaken by the enterprise; and

5. Compliance with the e-receipting and e-sales requirement, conditioned upon the operationalization of the Bureau of Internal Revenue’s (BIR) e-receipt system. This requires prior registration of a computerized accounting system with the BIR.

Further, before the start of the project or activity, including the procurement of materials, the RBE should ensure that its Registration Agreement with the IPA, Certificate of Entitlement to Tax Incentives, including its supplier’s VAT Zero Rating Certificates, are in order. This is to ensure that the appropriate incentives are available before proceeding with any transaction that might be impacted.

Note that the signing of the Registration Agreement does not vest all the rights to the RBE in claiming incentives. Monitoring and timely compliance with the requirements under the terms and conditions of its registration are necessary.

Finally, an RBE should also be aware of certain clawback provisions in relation to its availment of incentives. This means that the RBE may be required to return the monetary value of benefits that it has previously enjoyed. For example, the sale, transfer or disposition of capital equipment within five years from the date of importation generally triggers the payment of duties and taxes based on the value of equipment. In addition, cancellation of registration with the IPA may give rise to the payment of duties and taxes or VAT on all equipment, fit-outs and assets to be retained or to be disposed of from the registered facility.

The more the investor knows its duties to the government and complies in a timely manner, the smoother the claiming of tax incentives will go. 

The views or opinions expressed in this article are solely those of the author and do not necessarily represent those of Isla Lipana & Co. The content is for general information purposes only, and should not be used as a substitute for specific advice.

 

Delila L. Dayag is an assistant manager at the Tax Services department of Isla Lipana & Co., the Philippine member firm of the PwC network.

+63 (2)8845-2728

delila.l.dayag@pwc.com

NCAA slaps Amores with an indefinite suspension

COLLEGE of St. Benilde coach Charles Tiu yesterday said they are mulling filing a case against JRU’s John Amores for attacking and hitting several of his players. — PHILIPPINE STAR/ RUSSELL PALMA

Faces several charges from CSB and players

Games Tomorrow
(Filoil EcoOil Centre)
12 p.m. — CSB vs UPHSD
3 p.m. — JRU vs SSC-R

THE SKY has fallen on controversial Jose Rizal University cager John Amores.

Mr. Amores was recently slapped an indefinite suspension by the NCAA for his violent behavior during an ugly brawl that led to the league stopping the game and awarding the 71-51 win to College of St. Benilde at the Filoil EcoOil Centre on Tuesday.

NCAA Management Committee representative Fr. Vic Calvo, OP, of Letran yesterday said they have meted the ban on Mr. Amores for several offenses — intentionally bumping and pointing at the referees, disrespecting Mancom officials and court officials, charging at CSB and throwing punches at four Blazers in Mark Sangco, Jimboy Pasturan, Taine Davis and Migs Oczon.

“The penalty imposed was in accordance with league by-laws. Violence has no place in the NCAA and the Mancom will not tolerate acts that will endanger the athletes and everyone in the league,” said Mr. Calvo.

The league also cracked the whip on several players by slapping two-game suspensions on Mr. Sangco and his CSB teammate Chris Flores for engaging in the fistfight and brawl and JRU’s William Sy and Ryan Arenal for committing disrespectful acts.

It also banned for a game CSB’s Ladis Lepalam and JRU’s Mr. Sy, Jason Tan, Joshua Guiab, Jason Celis, Marwin Dionisio, Jan Abaoag, Jonathan Medina, Karl de Jesus and CJ Gonzales for entering the court.

Mr. Calvo said the league isn’t completely shutting the door on Mr. Amores, who is expected to receive intervention from JRU via psychological and spiritual healing.

“We’re not totally closing the door on him especially to his career. Justice tempered with mercy. We have to be Solomonic, opening the door for the player, however small,” said Mr. Calvo.

Interestingly, with 10 of its players sacked, JRU will be left with five players when it faces San Sebastian tomorrow.

And that wasn’t the only problem Mr. Amores is facing as several legal battles looms over the horizon, if it hadn’t already.

CSB coach Charles Tiu said they are mulling filing a case against Amores as well as the parents of Taine Davis and Jimboy Pasturan, who were punched on the face by Mr. Amores that resulted to the team sending them to the hospital for medical attention that same night.

That is not counting the case already filed by a University of Philippines team backer after Mr. Amores docked new Maroons recruit Mark Gil Bautista in a pre-season game last July.

“Waiting for the official statement of the school, but we will probably file complaints and I believe parents of players want to file a case,” said Mr. Tiu.

Mr. Amores went amok after he charged a fan heckling him behind the CSB bench but ended up facing the Blazers, exchanging punches with Mr. Sangco, clocking Messrs. Pasturan and Davis and throwing one against Migz Oczon that failed to connect.

It was one wild sequence of unfortunate events that may have virtually cut short Mr. Amores’ basketball career.

Meanwhile, Mapua smashed Arellano U (AU), 67-47, to remain in the Final Four hunt with a 6-9 mark, the same card of the latter. — Joey Villar

The Scores:

First Game

Mapua 67 — Garcia 13, Nocum 10, Mercado 10, Hernandez 8, Cuenco 8, Pido 5, Agustin 5, Bonifacio 3, Soriano 2, Salenga 2, Lacap 1, Igliane 0

AU 47 — Menina 10, Doromal 10, Abastillas 8, Tolentino 6, Sunga 4, Mallari 3, Oftana 3, Mantua 2, Talampas 1, Oliva 0

Quarterscores: 16-8; 36-21; 52-28; 67-47

Ex-FIFA president Sepp Blatter: Qatar WC a ‘mistake’

AHMED bin Ali Stadium, Al Rayyan, Qatar, general view inside the stadium ahead of the World Cup. — REUTERS

SEPP Blatter, the president of FIFA when the organization selected Qatar in 2010 to host the upcoming World Cup (WC), now says the choice was a “mistake.”

Mr. Blatter made the comments in an interview with Swiss newspaper Tages Anzeiger. The World Cup is set to begin Nov. 20 in Qatar, the first Middle Eastern country to host the global event.

“Qatar is a mistake,” Mr. Blatter told the newspaper. “The choice was bad.”

Qatar is being panned for not having nearly enough infrastructure in addition to allegations of corruption, human rights violations and poor working conditions. “It is too small of a country,” Mr. Blatter said. “Football and the World Cup are too big for it.”

Qatar is less than the size of Connecticut in square miles and has fewer than three million residents.

Blatter’s 17-year reign as FIFA chief ended in 2015 when he abruptly resigned amid myriad corruption scandals. He is banned from participating in FIFA activities until 2027.

He was cleared of fraud by a Swiss court in June, though prosecutors are appealing the ruling. — Reuters

Petro Gazz faces Cignal to boost place in semis

CIGNAL HD SPIKERS — PVL

Games Today
(Smart Araneta Coliseum)
2:30 p.m. — Cignal vs Petro Gazz
5:30 p.m. — Akari vs PLDT

PETRO Gazz and Cignal try to bolster their bid for a semifinal berth as they face off today in the Premier Volleyball League Reinforced Conference at the Smart Araneta Coliseum.

The Angels are currently at third spot with a 3-1 record after turning back the High Speed Hitters in a protest-marred 19-25, 25-21, 25-20, 27-25 victory last Saturday at the Sta. Rosa Sports Complex.

They could inch closer to the semis with another win in their 2:30 p.m. encounter with the HD Spikers, who split their first four outings that included a 25-23, 25-19, 25-19 win over the United Auctioneers Army Lady Troopers last Nov. 3 at the Filoil EcoOil Centre.

Cignal itself is bent on snaring this one game that would also push it closer to making the semis for the third straight conference after a pair of third-place finishes in the Open and Invitational early this year.

Creamline and Chery Tiggo lead the way with identical 5-1 slates.

Petro Gazz coach Rald Ricafort said the key is following and executing their game plan to perfection.

“We keep reminding them to always stay focused and follow the instructions we prepared for a game if we want to get the win,” said Mr. Ricafort.

In another game, Akari (2-4) and PLDT (1-4) will go at each other at 5:30 p.m. to likewise stay in the semis race.

Prisilla Rivera is expected to carry the brunt anew of the Chargers’ offense after unleashing a season-high 44-point performance in a 23-25, 25-21, 25-19, 21-25, 15-12 win over the Choco Mucho Flying Titans last Nov. 3.

For PLDT, which lost the protest it filed following its defeat to Petro Gazz, a loss would mean early elimination. — Joey Villar

Guang Ming debuts vs Lyceum as UCBL kicks off Season 5

Games Today
(Paco Arena, Manila)
11 a.m. — Opening Ceremony
12:30 p.m. — LPU-Batangas vs GMC
2:15 p.m. — Univ. of Batangas vs PCU-D

NEOPHYTE Guang Ming College (GMC)-Tagaytay makes its debut against Lyceum of the Philippines (LPU)-Batangas to fire off the PG Flex Linoleum-Universities and Colleges Basketball League (UCBL) Season 5 presented by Vespa today at the Paco Arena in Manila.

Guang Ming, under the watch of former UP Maroon Mo Gingerich, takes centerstage at 12:30 p.m right after the simple opening rites at 11 a.m.

Philippine Christian U (PCU)-Dasmariñas and University of Batangas then collide at 2:15 p.m. to cap the the opener of UCBL in its much-awaited return for the first time amid the pandemic.

Also in the fray for UCBL, which will have  president Franklin Evidente, PG Flex Linoleum owner Nelson Guevarra and MMDA’s Col. Bong Nebrija in the opener, are Olivarez College, Centro Escolar U and back-to-back reigning champion Diliman College.

But the spotlight is on youthful Guang Ming, which is tempering expectations in a baptism of fire according to sports director and seasoned mentor Bo Perasol.

The UBCL last staged a regular season tourney in 2019 before diving back to play this summer in a preseason invitational that also featured fancied teams from UAAP and NCAA for the first time.

Today, UCBL will mark its official comeback with an expected level playing field among its seven squads for the prestigious crown. — John Bryan Ulanday

Key US House, Senate races still too close to call

IMAGE VIA ARCHITECT OF THE CAPITOL

PHOENIX, Ariz./BIRMINGHAM, Mich. — Control of Congress was up for grabs after Tuesday’s US midterm elections with many of the most competitive races uncalled, leaving it unclear whether Republicans would seize control from President Joseph R. Biden’s Democrats.

In a bright spot for Democrats, NBC News and Fox News projected John Fetterman won a critical US Senate seat in Pennsylvania, beating Republican celebrity doctor Mehmet Oz and bolstering his party’s chances of holding the chamber.

The mood at the White House improved as the night went on, with once-nervous aides allowing smiles to creep on their faces and saying early signs for Democrats were better than expected.

In the House of Representatives, Republicans had been favored to win a majority that would allow them to halt Mr. Biden’s legislative agenda. By early Wednesday, the party had flipped four Democratic House seats, Edison Research projected, one short of the number they need to take over the chamber.

That number could change. Only 12 of the 53 most competitive races, based on a Reuters analysis of the leading nonpartisan forecasters, had been decided, raising the prospect that the final outcome may not be known for some time. Democrats were projected as the winners in 10 of those 12 contests.

The Senate was still a toss-up, with pivotal battles in Arizona, Georgia and Nevada still in play.

The Georgia Senate race could end up in a Dec. 6 runoff, possibly with Senate control at stake. Democrats currently control the 50-50 Senate with Vice President Kamala Harris able to break any ties.

Early results suggested Democrats would avoid the type of wipeout election that some in the party had feared, given Mr. Biden’s sagging approval rating and voter frustration over inflation.

“Definitely not a Republican wave, that’s for darn sure,” Republican US Senator Lindsey Graham told NBC in an interview. He held out hope that the party would take a majority in the Senate: “I think we’re going to be at 51, 52, when it’s all said and done.”

Even a narrow Republican majority in the House would be able to block Mr. Biden’s priorities while launching politically damaging investigations into his administration and family.

Thirty-five seats and three dozen governors’ races were also on the ballot. Florida Governor Ron DeSantis, a leading contender for the Republican presidential nomination in 2024, defeated Democratic Representative Charlie Crist, Edison projected.

More than 46 million Americans voted ahead of Election Day, either by mail or in person, according to data from the US Election Project, and state election officials caution that counting those ballots will take time.

High inflation and abortion rights were voters’ top concerns, with about three in 10 voters picking one or the other as their top concern, exit polls showed. Crime, a major focus in Republican messaging in the campaign’s final weeks, was the top issue for just about one in 10 voters.

COMPETITIVE DISTRICTS
Both parties notched victories in competitive districts.

In Virginia’s 2nd congressional district, Democratic US Representative Elaine Luria lost to Republican challenger Jennifer Kiggans in a district Biden carried by two points. But in the state’s 7th district, which Mr. Biden won in 2020 by 7 percentage points, Representative Abigail Spanberger held off a Republican challenger.

Local officials reported isolated problems across the country, including a paper shortage in a Pennsylvania county. In Maricopa County, Arizona — a key battleground — a judge a Republican request to extend voting hours after some tabulation machines malfunctioned.

The problems stoked evidence-free claims among Mr. Trump and his supporters that the failures were deliberate.

Scores of Republican candidates have echoed Mr. Trump’s false claims that his 2020 loss to Mr. Biden was due to widespread fraud. In Pennsylvania, Republican gubernatorial candidate Doug Mastriano, who sought to overturn the state’s election results after Mr. Trump lost, was defeated by Democrat Josh Shapiro.

In New Hampshire, Democratic Senator Maggie Hassan prevailed over Republican Don Bolduc, a retired general who also backed Mr. Trump’s baseless assertions, in a race that Republicans had once viewed as a top opportunity.

In swing states such as Arizona, Michigan and Nevada, the Republican nominees to head up the states’ election apparatus have embraced Mr. Trump’s falsehoods, raising fears among Democrats that, if they prevail, they could interfere with the 2024 presidential race.

“They deny that the last election was legitimate,” Mr. Biden said on a radio show aimed at Black voters. “They’re not sure they’re going to accept the results unless they win.”

Mr. Trump, who cast his ballot in Florida, has frequently hinted at a third presidential run. He said on Monday that he would make a “big announcement” on Nov. 15.

ECONOMIC WORRIES
The party that occupies the White House almost always loses seats in midterm elections, and Democrats hoped the Supreme Court’s June decision to overturn the nationwide right to abortion would help them defy that history.

But stubbornly high annual inflation, which at 8.2% stands at the highest rate in 40 years, has weighed on their chances throughout the campaign.

“The economy is terrible. I blame the current administration for that,” said Bethany Hadelman, who said she voted for Republican candidates in Alpharetta, Georgia.

A Reuters/Ipsos poll this week found just 39% of Americans approved of the way Mr. Biden has done his job. Some Democratic candidates deliberately distanced themselves from the White House as Mr. Biden’s popularity languished.  

Trump’s polling is similarly low, with just 41% of respondents to a separate recent Reuters/Ipsos poll saying they viewed him favorably.

In Congress, a Republican-controlled House would be able to thwart Democratic priorities such as abortion rights and climate change, while a Republican Senate would hold sway over Mr. Biden’s judicial nominations, including any Supreme Court vacancy.

Republicans could also initiate a showdown over the country’s debt ceiling, which could shake financial markets.

Republicans will have the power to block aid to Ukraine if they win back control of Congress, but analysts say they are more likely to slow or pare back the flow of defense and economic assistance. — Reuters

COP27: Hosts launch plan to help poorest adapt to climate change

PHILIPPINE STAR/KRIZ JOHN ROSALES

SHARM EL-SHEIKH, Egypt — The hosts of the COP27 climate talks on Tuesday launched a global plan to help the world’s poorest communities withstand the impacts of global warming.

Unveiling the Sharm-El-Sheikh Adaptation Agenda, named after the Egyptian resort where the talks are being held, the plan sets out 30 goals to hit by the end of the decade to enhance the lives of 4 billion people.

The hope is that by setting targets across themes including food and agriculture, water and nature, and coastlines and oceans, the public and private sectors will work with common goals and accelerate adaptation to change.

Urgent targets highlighted by the COP27 Presidency include moving the world to more sustainable agriculture practices that could increase yields by 17% and cut emissions by 21%.

Other goals include protecting 3 billion people from catastrophic weather events by installing early warning systems to help them prepare; investing $4 billion into mangrove restoration, which protects against flooding; and expanding clean cooking options to 2.4 billion people to reduce indoor air pollution.

“The Sharm-El-Sheikh Adaptation Agenda is a critical step at COP27,” COP27 President and Egypt’s Minister of Foreign Affairs Sameh Shoukry said in a statement

“The COP27 presidency has long articulated our commitment to bringing together state and non-state actors to progress on adaptation and resilience for the 4 billion people that live in the most climate vulnerable regions by 2030.”

In total, the plan seeks to mobilize up to $300 billion a year from private and public investors. By contrast, the world’s biggest multilateral development banks spent $17 billion on adaptation finance for poorer countries in 2021, a report by the lenders published last month showed.

The majority of climate finance goes towards mitigation efforts, such as reducing emissions, despite U.N. pleas that half of all funding should be channeled into helping vulnerable countries adapt.

Africa, hosting its first COP, receives just 3% of total climate finance globally and was being “short changed,” Akinwumi Adesina, president of the African Development Bank, told a conference session on the theme of adaptation.

Among specific Africa-focused projects to be announced at COP27 that will help meet the adaptation targets are a plan to improve water resilience for 29 million people across 100 cities.

Going forward, the U.N. Climate Change High-Level Champions for COP27, which form a link between the hosts of the COP, other national governments and non-state actors such as companies, said they would continue to refine and expand the targets.

U.N. climate chief Simon Stiell said: “The Sharm el-Sheikh Adaptation Agenda firmly puts key human needs at its core, along with concrete, specific action on the ground to build resilience to climate change”. — Reuters

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