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Twitter to start testing overhauled process of flagging harmful tweets

TWITTER, Inc. will begin overhauling how users report harmful tweets in an effort to make it easier for people to describe what is wrong with the content they are seeing, the social networking site said on Tuesday.

The move, which will begin with a small test of Twitter Web users in the United States, comes amid widespread criticism that tech companies including Twitter, Meta Platforms, Inc. and Alphabet, Inc.’s YouTube are doing too little to shield users from harmful or abusive content online.

Instead of requiring users to report how a tweet violates Twitter’s rules, which presumes knowledge of the company’s policies, users will be asked whether they felt they have been attacked with hate, harassed or intimidated with violence or shown content related to self-harm, among other concerns.

Users will also be allowed to describe in their own words why they are flagging the content, Twitter said.

The process is akin to a doctor asking a patient about their symptoms and “where does it hurt?” rather than “is your leg broken?” the company said.

“In moments of urgency, people need to be heard and feel supported,” Brian Waismeyer, a data scientist on Twitter’s health user experience team, said in a statement.

Twitter added that the new process will allow it to gather more granular information on tweets that do not explicitly violate its rules, but that users might nonetheless find problematic or upsetting, which will help the company update its policies in the future.

It is the latest of recent changes that Twitter has made to improve user safety. Last month, the company said it would begin prohibiting the sharing of “personal media” such as photos and videos without the consent of the person. — Reuters

Cebu Pacific to operate more Manila-Bacolod flights starting Dec. 16

BUDGET carrier Cebu Pacific announced on Wednesday that it is increasing flights from Manila to Bacolod starting Dec. 16 to address the rising travel demand.

There will be a total of 16 Manila-Bacolod flights per week starting Dec. 16, the budget carrier said in an e-mailed statement, noting that there is a “need for additional frequencies in order to reduce fares.”

The airline said it is currently operating Manila-Bacolod flights “9x weekly (1x daily plus 2x weekly for fully-vaxxed [vaccinated] pax).”

Cebu Pacific currently operates above 60% of its pre-pandemic domestic network and capacity. The company expects to operate 84% of its pre-pandemic domestic capacity in 2022.

“To date, about 51.65% of Negros Occidental’s target population have received the first dose of COVID vaccine, based on the data of Department of Health Region 6 as of Dec. 6,” the airline noted.

“To support inoculation efforts, Cebu Pacific will continue to provide a waiver of fees for 5kg excess baggage until Jan. 15, 2022, exclusively for fully-vaccinated passengers flying to and from Bacolod with pre-purchased baggage,” it added. Every Tuesday, the airline also operates a once-weekly flight between Cebu and Bacolod.

“We remain committed to rebuilding the public’s trust and confidence in air travel, and we will continue to collaborate with the government to achieve this goal,” said Michael Ivan Shau, chief corporate affairs officer at Cebu Pacific.

The airline has added more flights to Boracay, Bohol, Cebu, Cagayan de Oro, Davao, and General Santos as a result of the relaxation of travel restrictions. — Arjay L. Balinbin

Visa launches global cryptocurrency advisory service for banks, merchants

VISA, INC., the world’s largest payment processor, on Wednesday launched a global crypto advisory service for clients such as banks and also merchants, as the adoption of digital currencies gains steam.

The move by Visa comes against the backdrop of unprecedented investor demand for crypto services and the company’s latest offering is geared towards financial institutions eager to attract or retain customers with a crypto offering, retailers looking to delve into non-fungible tokens (NFTs), or central banks exploring digital currencies.

Visa’s services include educating institutions about cryptocurrencies, allowing clients to use the payment processor’s network for digital offerings, and helping manage backend operations.

“We came to Visa to learn more about crypto and stablecoins and the use cases that are most relevant for our retail and commercial business lines,” said Uma Wilson, executive vice-president at UMB Bank, a regional US lender.

A new global study by Visa showed nearly 40% of crypto owners surveyed would be likely or very likely to switch their primary bank to one that offers crypto-related products in the next 12 months.

Visa currently uses its network to allow buying, selling, and custody of digital currency. It also offers a credit card that lets users earn bitcoin on purchases and also allows the use of USD Coin, a stablecoin cryptocurrency whose value is pegged directly to the US dollar, to settle transactions on its payment network.

However, for cryptocurrencies such as bitcoin to be used as a medium of exchange, price stability is needed, Visa’s Chief Financial Officer Vasant Prabhu told Reuters.

“If the price is going to fluctuate from $60,000 to $50,000 in a few hours, it’s a very difficult thing for a merchant to accept (bitcoin) as a currency,” Mr. Prabhu said.

“I don’t know if cryptocurrencies like bitcoin will ever be a medium of exchange. Stablecoins will,” he said, adding that Visa would facilitate such transactions when the time was right. — Reuters

Dining In/Out (12/09/21)

Christmas at Edsa Shangri-La

Dine under the stars at Century Park Hotel

AT CENTURY Park Hotel, a unique Unlimited Samgyeopsal experience awaits guests at Al Fresco by Palm Grove for P669 net.  Grill the meats, drink and dine under the stars and relish the relaxing poolside ambience. The package includes unlimited meats (US short beef plate, US Short Ribs, Pork Belly Strips and Marinated Pork Neck), one glass of beer or a cocktail/mocktail, side dishes and one Smore’s set. Seasonal items to watch out for are: Hungarian Sausages, Wienerli, Cheesy Franks, Assorted Taiwanese Balls and Mozzarella Cheese Dip. Guests can also choose from a selection of ala carte items:  Wings and Dips, Smoked Baby Back Ribs, Maldivian Grilled Blue Marlin, Mixed Seafood & Meat Grill Platter and a whole lot more. Al Fresco by Palm Grove is accessed by a Tunnel of Love and enter the giant Bird Cage for a selfie or groufie.  For more photo options there are art walls by the bar, a giant teepee, and the poolside. There is also a Love Locks corner (P150 per pair of padlocks). Al Fresco by Palm Grove is open Fridays and Saturdays from 5-11 p.m. Under the guidelines for staycation hotels, guests must be fully-vaccinated (at least two weeks after the second dose) or have taken a RT-PCR test 48 hours prior to the visit.  This applies to minors as well. Slots are limited so reservations are needed through 8528-8888 local 2500 or 0956-523-2880. For other terms and conditions, visit www.centurypark.com.  

Christmas at Edsa Shangri-La

EDSA Shangri-La, Manila has a selection of holiday indulgences at its restaurants including a three-course set menu at the Lobby Lounge (P2,850 net per person), a five-course set menu at Senju (P2,895 net per person) and a festive set menu by Summer Palace (rate starts at P12,320 net for four persons). If a choice beyond all else is wanted, HEAT’s festive buffet (rate starts at P2,850 net) ensures a wide selection. All offers are available on Dec. 24, 25, 31, and Jan. 1. There is also a Festive Afternoon Tea available daily for the whole month of December at P1,450 net good for two persons. If planning an intimate gathering at home, there are Gourmet on the Move themed set menus available starting at P4,800 net per set while the Roast Turkey set is at P5,800 net per set. All sets are good for five persons. Lastly, The Bakeshop has an assortment of holiday treats. There are specially crafted hampers filled with decadent classics, sweet treats, gourmet goods and more that make a perfect gift. Rate starts at P2,000 net. For reservations and inquiries, call 8633-8888 or e-mail manilaedsa@shangri-la.com.   

Tinapayan Festival offers holiday treats

CELEBRATE Christmas with Tinapayan Festival, a local bakeshop offering soft and sweet baked products. Lucito “Chito” Chavez dreamt to make bread a part of the daily lives of Filipinos through his own brand, Tinapayan Festival. “A lot of us, most especially the bakers in Cuenca, Batangas, produce really great quality baked goods that we should all be proud of. Through all the initiatives and projects led by Tinapayan Festival over the past years, I am hopeful that we are once again uplifting the status of the baking industry in the country,” said Mr. Chavez. For Christmas, Tinapayan Festival has come up with holiday products including Holiday bread (the bakeshop’s signature soft bread topped with glazed fruits), Cheesy Loaf, Queso de Bola Ensaymada, Fruitcake (made with candied fruits, nuts, and spices soaked in brandy for six to eight months, baked three months before Christmas, and sprayed with brandy and sugar syrup every month), Black Forest Loaf, Don Chito’s Triple Cheese Roll (topped with parmesan, Quezo de Bola, French butter, and sugar), Ensaymada Mallorca with Cabello de Angel filling (a softer and fluffier ensaymada bursting in a sweet jam composed of brown sugar, squash, and secret spices). Tinapayan Festival is at 1650 Dapitan St. corner Don Quijote, Sampaloc, Manila; call 8732-2188 or 0961-715-2714 or e-mail at sales@tinapayan@gmail.com to place advance orders. Tinapayan Festival is also available in GrabFood and FoodPanda.

TWG Tea for Christmas

WITH the cold air breezes, fairy lights twinkling across holly-decked halls to the sound of joyous music, it is the perfect time for a cup of tea like TWG Tea’s Red Christmas Tea. Encased in a limited-edition gift box in shades of ruby-red and gold, this theine-free red tea blend with citrus fruits and spices is the perfect tea to while away cozy holiday evenings. TWG Tea has also unveiled exclusive Christmas Gift Sets filled with TWG Tea favorites and tea table essentials. Each gift set features the best-selling teas from the signature Haute Couture Tea Collection, Cotton Teabags, and Loose-Leaf Tea Collections, along with a selection of tea accessories.  Other gift suggestions are its colorful Design Orchid Teapots and Secret Tea Tins, and its Tea Scented Candles for the complete olfactory experience. TWG Tea has also added a special tea cocktail recipe in every gift set. Red Christmas Teabags (P1,355) are available online on TWG Tea eBoutique at LazMall and Trunc.PH, and at TWG Tea Boutiques in Greenbelt 5, Central Square, and Alabang Town Center. Meanwhile, the Tea Christmas Set A (P18,500), TWG Tea Christmas Set B (P15,500) and TWG Tea Christmas Set C (P15,000) are exclusively available on Trunc.PH from Dec. 10-12, and at TWG Tea Boutiques in Greenbelt 5, Central Square, and Alabang Town Center from Dec. 13 to Jan. 31.

Exclusive offers, discounts with McDelivery

MCDONALD’S is leveling up their delivery service with the revamp of its McDelivery app and website, providing customers a swift and stress-free way to get their McDo meals delivered wherever, whenever. Customers can now geotag their location, choose their preferred nearest catering store, see the order status in real-time, and easily reach out to Customer Support through Live Chat. Order fulfillment options like Deliver Now, Deliver Later, Pick-up, and Send to Many are also available. There are now a variety of payment options via Cash-on-delivery, Debit/Credit Card, PayMaya, and GCash. Senior Citizens (SC) and Persons with Disability (PWD) cardholders may now register their respective card details to avail their privileges no matter the chosen payment method. McDonald’s gives its delivery customers McDelivery Exclusives such as access to their Secret Menu, Mega Meals, and various McShare bundles that are available only on the McDelivery App and mcdelivery.com.ph. Customers can also expect exclusive discounts like free delivery fee coupons for all weekends from Dec. 4 to Jan. 2.

Chowking now offering Taiwan’s ‘best milk tea’

CHOWKING is now offering Taiwan’s “best milk tea” brand, Milksha. Also known by the brand name Milkshop in Taiwan, Milksha was voted as the “No.1 Milk Tea Brand” by university students in Taiwan and recognized as “The Best Reviewed” milk tea brand by Daily View, an online media platform in Taiwan. Milksha offers “Fresh, Natural, and Handmade Beverages” by using natural and fresh ingredients, without any preservatives or chemical additives. It uses fresh, high-quality milk as a base for its beverages. Milksha now has over 250 outlets, in Taiwan, Hongkong, Melbourne, Vancouver, and Singapore. Now Milksha beverages are exclusively available over the counter and for delivery in select Chowking stores around Metro Manila. Chowking opened its first Milksha counter in Betterliving in Parañaque in early November, and it will soon be made available in Chowking stores in SM Megamall in Mandaluyong City, Unciano Center and Marcos Highway in Antipolo City, Fairview Regalado and Roces in Quezon City, Annapolis Albany in San Juan, Bonifacio Stop Over and Petron C5 Diego Silang in Taguig City, and Valenzuela City Hall in Valenzuela City. Chowking is offering five flavors of Milksha drinks: Honey Pearl Black Tea Latte, Black Tea Latte with Pudding, Valrhona Cocoa Milk, Signature Taro Milk, and Wintermelon Lemon. The honey pearls are Milksha’s signature toppers. On Nov. 4, Jollibee Group disclosed that it will purchase, through its wholly owned subsidiary, Jollibee Worldwide, Pte. Ltd. (JWPL), a majority stake in the firm that owns Milksha. Jollibee Group will purchase shares equivalent to 51% ownership in Milkshop International Co. Ltd. (Milkshop) for approximately $12.8 million. One of the co-founders of Milkshop will continue to retain the 49% ownership of Milkshop. Chowking is part of the Jollibee Group, one of the fastest-growing restaurant companies in the world.

Selecta launches gift bundles

SELECTA launches the 12 Ways of Christmas, special Gifting Bundles available through local retailers, convenience stores, and online delivery apps nationwide. On the brand’s Facebook page, Selecta shines a light on the different kinds of people — from family and friends, to neighbors, officemates, and delivery riders — to share moments of happiness with this Christmas, as well as the ideal Gifting Bundle to be shared with them. Then there is the Selecta Happinas Map — a nationwide tally created to showcase how simple acts of kindness can create a ripple effect of positivity among people. To join the movement and help spread happiness this holiday season, here’s how to take part in Selecta’s 12 Ways of Christmas: on an online post, tag the loved ones you wish to share ice cream with; use the #ShareHappinas and #GiftHappinas hashtag; purchase Selecta Gifting Bundles through any partner retailer and send them to loved ones through online delivery apps. Each use of the hashtag creates a pin that will appear on the Selecta Happinas Map. For more on Selecta’s 12 Ways of Christmas, visit SelectaPhilippines.com/Happinas to view happy moments across the country.

S&R is now available on GrabMart

STARTING this month, online grocery shopping is made more convenient as membership grocery shopping retailer S&R joins GrabMart. Open to customers within Metro Manila, this partnership allows both S&R members and GrabMart consumers to have easier access to S&R’s wide range of global, local, and S&R Member’s Value products. Consumers can also get their orders delivered to their homes in just 60 minutes. Exclusive discounts and promos are also available for S&R members, granting them the same experience they’d have when visiting an S&R branch. By enrolling their S&R membership cards on the Grab app, members will be able to enjoy bigger savings and access to their favorite global brands. As an added treat, all GrabMart users can enjoy P100 off for a minimum purchase of P1,200 just by using SNR100OFF the next time they check out from S&R on GrabMart. For more details on GrabMart’s partnership with S&R, visit https://www.grab.com/ph/mart/ or visit the Grab app today.

Shares seen to rise as COVID-19 cases stay low

STOCKS may continue to improve in the coming days as coronavirus disease 2019 (COVID-19) cases in the Philippines remain low.

The bellwether Philippine Stock Exchange index (PSEi) advanced by 16.56 points or 0.23% to close at 7,147.30 on Tuesday, while the broader all share index fell by 6.58 points or 0.17% to 3,805.51.

Philippine financial markets were closed on Wednesday in commemoration of the Feast of the Immaculate Conception of Mary.

In the coming days, investors will look at the country’s COVID-19 situation for leads, with window dressing ahead of the year’s close also expected to affect trading.

“Should there be no cases or surge, and if there are no local companies with a big exposure to Evergrande, the market may continue to recover as investors want to start positioning ahead of 2022,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“Potential window dressing activities as the accounting yearend draws closer, the consistently low COVID-19 cases, and the [bicameral] approval of the national budget would also be another positive lead for the local stock markets,” Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said in a Viber message.

The Department of Health reported on Monday that the country is now under minimal risk as COVID-19 cases continue to drop.

The Philippines logged 356 new infections on Tuesday, bringing the total to 2.84 million. Active cases stood at 13,026.

Meanwhile, China Evergrande did not make payments on some US dollar bonds at the end of a month-long grace period, sources familiar with the situation told Reuters on Tuesday, setting the stage for a massive default by the world’s most indebted property developer.

Failure by Evergrande to make $82.5 million in interest payments due last month would trigger cross-default on its roughly $19 billion of international bonds and put the developer at risk of becoming China’s biggest defaulter — a possibility looming over the world’s second-largest economy for months.

Evergrande was once China’s top property developer, with more than 1,300 real estate projects. With $300 billion of liabilities, it is now at the heart of a property crisis in China this year that has crushed almost a dozen smaller firms.

On the other hand, Philippine lawmakers are expected to ratify the proposed P5.024-trillion 2022 national budget on Dec. 13 before they go on a holiday break, Senator Juan Edgardo M. Angara earlier said.

“PSEi will stay above 7,000 as Omicron-related selling looks overdone,” First Metro Investment Corp. Head of Research Cristina S. Ulang said in Viber message.

Meanwhile, RCBC’s Mr. Ricafort put the PSEi’s next resistance at the 7,200-7,270 levels. — M.C. Lucenio with Reuters

Canada to bar entry for unvaccinated NBA players

THE National Basketball Association (NBA) is gearing up to comply with a Canadian regulation that will bar unvaccinated players from entering Canada as of next month.

The rule takes effect on Jan. 15 as part of the Canadian government’s COVID-related border-crossing policies announced on Nov. 19. The NBA informed teams of the change on Tuesday.

Certain groups that currently are exempt, including professional and amateur athletes, will be required to show proof that they are fully vaccinated.

In the NBA, that applies to teams visiting the Toronto Raptors. An unvaccinated player who is forced to miss a game in Toronto would be subject to a reduction of compensation and a possible fine, suspension or other action, The Athletic reported. The Raptors’ first home game after Jan. 15 is on Jan. 23 against the Portland Trail Blazers. — Field Level Media

Crypto play-to-earn ‘GameFi’ apps surpass DeFi in user popularity

WHILE DEFI has become a popular buzzword among the crypto hip, it turns out that decentralized game-based finance (GameFi) is increasingly where the action is these days.

Nearly 50% of active cryptocurrency wallets connected to decentralized applications (dapps) in November were for playing games, according to crypto data tracker DappRadar. The percentage of wallets linked to decentralized finance, or DeFi, dapps fell to 45% during the same period, after months of being the leading dapp use case.

The gaming craze was kicked into high gear this year by virtual world of Axie Infinity, where players can earn money by winning battles, selling monsters, and staking or lending their digital assets. The number of participants is rising rapidly, as many crypto enthusiasts are also avid gamers, and the idea of combining the two passions appeals to many.

“We see around 80-100 million transactions in games daily,” said Pedro Herrera, senior data analyst at DappRadar. “It’s just impressive to see the evolution that blockchain games have experienced this year.”

Advocates see room for even wider participation. More than 104,000 people played Axie over a recent 24-hour period, per DappRadar’s analysis of on-chain data. Blockbuster online video games like Counter-Strike: Global Offensive, attract more than 700,000 players on the Steam streaming service.

In recent months, a slew of games, such as Splinterlands, Alien Worlds and CryptoMines, have gained hundreds of thousands of daily users. There are now about 1,200 blockchain games, with about 70 new ones added monthly, according to DappRadar.

Neither sector was spared by the weekend crypto crash. Tokens of many gaming companies slumped by as much as 30% over the past seven days, according to prices on CoinMarketCap. Many DeFi tokens fell as much as well, although the DeFi Pulse Index, which tracks some of the largest decentralized-finance projects, is down 24% for the week.

DeFi is still where much of the money is, but gaming is catching up. The top five gaming dapps recently had a total balance of invested funds of more than $14 billion, compared with $130 billion for the top five DeFi apps over the last 30 days, DappRadar said. Players use these funds to play and earn returns. The gamers also benefit when tokens they earn in games appreciate: Axie’s AXS token has jumped to around $102 from 53 cents at the beginning of the year.

Many players are also renting out their digital goods to others, in a similar fashion as in DeFi. Although dapp games’ financial features can be equally complicated and risky, the sci-fi planets and cute cartoon characters can ease the way to diving in. In a typical arrangement, owners let someone else to use their digital characters or spaceships or land, and the renter splits the gaming profits, often 50:50, or pays fees.

“They create micro economies of their own,” Mr. Herrera said. “It’s something that’s going to be big.”

Rental and other income can be more than $100,000 a month, said Liam Labistour, director of growth at Splinterlands.

To find players to rent their digital properties, some owners employ scouts. The scouts pick out new players, and get a share of the players’ earnings, too.

Other owners actually hire marketing firms, like Michael Bohnen’s EOSUSA, which gives players rewards to play on specific digital lands in Alien Worlds, in which players fly spaceships to distant planets. The marketer gets a piece of the players’ income or a fee, depending on the deal. His company also owns some lands in Alien Worlds that it rents out.

“There’s much more opportunity in the gaming space than there is in the DeFi space,” Mr. Bohnen said. “There’s only so many banks, but there’s always a brand new game of the week. It’s much more of an expansive space in my opinion. There’s more opportunity to potentially make money.” — Bloomberg

How much did each commodity group contribute to November inflation?

How much did each commodity group contribute to November inflation?

‘Modest’ deficit impact seen if support measures continue

PHILIPPINE STAR/ BOY SANTOS

THE narrowing of the fiscal deficit will likely be modest in the Philippines as the authorities keep propping up the economy while vaccination rates are low, Fitch Ratings said.

Fitch projects fiscal deficits to narrow in nearly all Asia Pacific economies as they withdraw relief measures and as government revenue rises on improving domestic demand.

“This should allow consolidation strategies to be implemented after delays in 2021 associated with the spread of the Delta variant,” Fitch said in a note Wednesday.

But this narrowing will be more modest in the Philippines, Vietnam, and Indonesia, where recoveries are still vulnerable to pandemic-related disruptions.

Emerging markets in the Asia Pacific have been restrained in providing relief packages, the ratings firm added.

In contrast, support packages from developed economies like Australia, Japan, and Singapore are larger, with Fitch expecting steady consolidation efforts and better public finances.

Fitch Ratings retained its negative outlook for the Philippines, citing its high public debt ratio and uncertain recovery trajectory.

Last month, Fitch said public debt could lead to a credit rating downgrade for the Philippines in the next few years.

Outstanding government debt rose to P10.2 trillion last year from P8.2 trillion in 2019 as the authorities ran up big deficits to battle the coronavirus.

The Philippines’ debt-to-GDP ratio was 63.1% at the end of September, the highest in 16 years.

Fitch Ratings said that the scarring effects from the pandemic will delay economies in their return to pre-pandemic growth trajectories, although developed countries will likely see less scarring than expected.

“Emerging markets such as the Philippines, Indonesia and India will see scarring, mitigated by greater productivity from structural reforms,” it said.

Separately, former Bangko Sentral ng Pilipinas Deputy Governor Diwa C. Guinigundo said the Philippines was on its fifth year of reforms to open up its economy when the Asian Financial Crisis hit.

He called the crisis a “rude awakening” as reforms turned out inadequate.

“The (Asian Financial) crisis made us realize that we have not done enough or we still have many more things to do to achieve greater traction of the economy and stronger resilience against shocks,” he said at an event organized by the ASEAN+3 Macroeconomic Research Office Tuesday.

The Philippine economy after addressing “macroeconomic imbalances and structural rigidities” at the time, he said, significantly improved in terms of productivity and efficiency.

“Our growth potential has expanded, leading to higher employment, higher public spending for public services and poverty reduction. We were resilient during the global financial crisis, but I think we could’ve been worse off during this pandemic.” — Jenina P. Ibañez

DTI’s Lopez says farmers to benefit from RCEP market opening, tech investment

TRADE Secretary Ramon M. Lopez said the Regional Comprehensive Economic Partnership (RCEP) trade agreement will benefit the agriculture sector via expanded market access and technology investment.

“The agricultural sector is set to benefit from the RCEP agreement. These benefits range from improved market access in the RCEP region, cheaper access to raw materials, wider cumulation area, trade facilitative measures, and even investments in smart agriculture and research and development,” Mr. Lopez said in a mobile phone message.

RCEP involves Southeast Asian countries, China, South Korea, Japan, Australia, and New Zealand. It is set to take effect on Jan. 1, 2022.

Mr. Lopez said the concerns of farmers regarding competition are “well-addressed” in the trade agreement.

“Highly sensitive agricultural products are excluded from tariff liberalization, hence, they still enjoy tariff protection. More than that, appropriate trade remedies are in place including World Trade Organization (WTO) global safeguards and an RCEP transitional safeguard,” Mr. Lopez said.

“In other words, these products while excluded from RCEP, would still enjoy the other benefits that the agreement offers,” he added.

According to Mr. Lopez, it would be catastrophic in terms of trade and investment if the Philippines does not join RCEP.

“The signal to the country’s trading partners and would-be investors is negative as it conveys that the Philippines is embracing an inward policy, not to say a protectionist stance. This cannot be done in the era of globalization lest we (are perceived as) moving backwards,” Mr. Lopez said.

“If we delay participation or discard RCEP, we will disrupt the growth momentum and poverty reduction we are experiencing now. Investments won’t come, and worse, even present investments will leave. As a consequence, jobs will be lost and again our poverty incidence will increase,” he added.  

The Federation of Free Farmers (FFF) has challenged senators to demonstrate their loyalty to farmers by rejecting the RCEP, claiming that farmers are in no position to take advantage of trade opportunities under the agreement.

RCEP is currently in the Senate for its concurrence after getting a green light from Malacañang in September.

“We will be unable to take advantage of the so-called trade opportunities because of our seriously defective production and marketing systems. It will be our competitors who will capitalize on RCEP and flood us with imports,” FFF National Manager Raul Q. Montemayor said in an earlier statement.

In November, some 45 agricultural groups also expressed their opposition to RCEP, saying that they were not consulted about the commitments the Philippines made in singing on to the trade deal.

“We will never gain from RCEP and similar arrangements unless we establish, fund and implement dedicated and sustained programs to boost the competitiveness and profitability of our farmers, fishers, traders, processors and exporters,” they said. — Revin Mikhael D. Ochave

PSA safeguards for national security deemed adequate

PHILSTAR

By Alyssa Nicole O. Tan

THE Public Service Act (PSA) that emerges from the amendment process seeks to strike a balance between liberalization and safeguarding the national interest, a senior Senator who wrote the chamber’s amendment bill said.

The measure, Senator Mary Grace Natividad S. Poe-Llamanzares, primary author and sponsor of the bill, told BusinessWorld in a Viber message, “puts the welfare of our people topmost by promoting competition among providers that will result in improved services, lower prices, and better quality of life for all.”

Senate Bill 2094, certified as urgent by President Rodrigo R. Duterte, seeks to amend an 85-year-old law to modify the legal definition of public services, currently included in the “public utilities” industry, to allow more foreign ownership.

Ms. Poe, who chairs the Senate Public Services committee, said the current version of the bill carried “adequate safeguards to address questions on national security, reciprocity, labor and information security.”

Presidential candidate and Senator Panfilo M. Lacson, Sr. has declared his opposition to opening up the shipping industry to 100% foreign ownership due to concerns over national and food security.

“I am taking the position that we should not open up our transport service to 100% ownership,” Mr. Lacson said in a statement. “That’s clearly a public utility regularly supplying the public with services.”

“It will kill our local shipping industry” if it opens up to that degree instead of the current 60-40 local-foreign sharing allowed in the Constitution, he added.

Mr. Lacson said full foreign ownership would lead to more foreign ships being allowed in the South China Sea, including areas within the Philippines’ exclusive economic zone and 12-nautical mile limit.

In response, Ms. Poe encouraged colleagues “to propose changes as they see fit, and if necessary, call a vote on the contentious provisions.”

“Our policies should be in tune with the needs of the time to usher in and sustain inclusive growth that leaves no Filipino behind,” she added.

Mr. Lacson said he will support moves to classify transport and telecommunications as public utilities.

“While the classification of what constitutes a public utility will have significant implications on foreign equity limitations, it should be carefully defined to be consistent with the intent of the Constitution and guided by the decisions of the Supreme Court,” Mr. Lacson said in a forum Tuesday.

Any move amending the Constitution in the guise of economic reforms, he added, “which could actually open doors to abuse and promotion of vested political interests, must be (approached) with utmost caution and hesitation.”

Federation of Filipino-Chinese Chambers of Commerce and Industry Henry Lim Bon Liong said that more foreign investment is good for the country by heightening competition, creating jobs, and forcing industries to raise their game.

With regard to problems in disputed Philippine waters, Mr. Lim Bon Liong said that for now, the country faces difficulties dealing with China. “I don›t think we can solve those problems in this generation.”

The best approach would be to work with China on joint exploration and the enhancement of technology, he added. Rather than fight China, it would be better to collaborate in modernizing the technology being used by farmers and fisherfolk.

GSIS failed to publish COVID-19 procurement contracts worth P17.23 million — CoA

PHILIPPINE STAR/ MICHAEL VARCAS

THE Commission on Audit (CoA) said the Government Service Insurance System (GSIS) failed to publish eight procurement contracts on the online portal of the procurement policy board, throwing into question the pension fund’s ability to procure and account for pandemic supplies at the most advantageous price.

The CoA said in its 2020 annual report that the contracts left unpublished on the Government Procurement Policy Board’s (GPPB) portal amounted to P17.229 million.

These included the purchase of RT-PCR tests, thermal cameras, and infrared thermometers.

“The objective of the mandatory publication in the GPPB online portal to ensure transparency and accountability in the implementation of the Bayanihan Acts, particularly in the government negotiated procurement during the State of Public Health Emergency was not fully achieved,” the commission reported.

Meanwhile, five GSIS procurement contracts funded by the Bayanihan to Recover as One Act or Bayanihan II were entered without any certification of preliminary market scanning efforts by the agency to ascertain the prevailing market prices of items to be procured.

These items included rental of shuttle buses for GSIS employees and RT-PCR testing in various GSIS regional offices such as its branches in Laoag and Tuguegarao.

These contracts were worth a combined P1.847 million.

The CoA recommended that the GSIS official in charge of goods and services and the head of the agency’s bids and awards committee immediately post the eight unpublished contracts, submit required documentation on five of the procurement contracts, and require the issuance of a certification stating that GSIS exerted all efforts to obtain the most advantageous price for the government.

Auditors have acknowledged that the eight unpublished contracts have since been posted to the GPPB portal as of Feb. 4, 2021, while the GSIS has submitted the required certifications on the reasonableness of the goods’ prices. — Russell Louis C. Ku

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