PBA Governors’ Cup semifinals series kicks off at MOA Arena

March 23, 2022 | 12:04 am

Harris_pba — Magnolia Hotshots — PBA IMAGES

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By Olmin Leyba

TWO title-hungry teams are intent on staying on their paths to the Holy Grail. One is bent on reclaiming lost glory. Another is firm about keeping its winning tradition in the import-spiced conference.

With these, the last four squads standing in the Season 46 Philippine Basketball Association (PBA) Governors’ Cup playoffs press for their respective bids as the best-of-five semifinals series kicks off on Wednesday at the Mall of Asia (MOA) Arena.

Meralco, hunting for a breakthrough after posting runner-up finishes in the 2016, 2017 and 2019 Governors’ Cup, and Magnolia, the 2018 champion who bungled succeeding attempts in the 2019 and 2021 Philippine Cup, clash for a pivotal head start at 3 p.m.

NLEX, only on its second time to reach this deep stage in franchise history, and Barangay Ginebra, winner of three of the last four Governors’ Cup staging, fire the opening salvo in their matchup at 6 p.m.

Top seed Magnolia and No. 4 Meralco set a Final Four duel after making short work of lower-seeded rivals, No. 8 Phoenix and No. 5 San Miguel Beer, respectively last Friday.

“This is going to be a dogfight,” said Hotshots coach Chito Victolero of their showdown, a rematch of the last All-Filipino semis in Bacolor that they won in six games. “Both are defensive-minded teams, so we expect a tough, grind out series.”

Meralco counterpart Norman Black described Magnolia as a powerhouse but expressed confidence his charges are up to the task.

“They’re pretty much a powerhouse right now and their import (Mike Harris) is probably right up there with the top imports of the league,” said Mr. Black, whose team is pinning its hopes on Tony Bishop instead of regular reinforcement Allen Durham. “We’re not a powerhouse like them, but I believe we can beat any team on any night.”

While NLEX mentor Yeng Guiao claimed the underdog tag for his “greener” troops, Ginebra’s Tim Cone believes the Road Warriors are as tough as they come.

“It’s always difficult playing coach Yeng’s teams in the playoffs. They play tough physical basketball for 48 minutes and you can never catch your breath. We’ll have to be mentally tough to match up to them,” said Mr. Cone, whose sixth-ranked crew advanced after toppling twice-to-beat No. 3 TnT.

For Mr. Guiao, the major threats they have to address against crowd darling Ginebra come from the dependable Justin Brownlee, the do-it-all Scottie Thompson and the twin tower combo of Christian Standhardinger and Japeth Aguilar.

“We’ll have to find the proper matchup for Scottie and their resident Best Import Justin Brownlee. Plus, I think they’re gaining chemistry with Japeth and Christian. They’re learning how to play together and it becomes a problem for any team that plays them,” he said.

Notes: The semifinal opening twin-bill marks the PBA’s awaited return to the MOA Arena after two years. Last time the pro league tipped off at the Pasay venue was Jan. 17, 2020 for Game 5 of the 2019 Governors’ Cup finals, where Ginebra beat Meralco, 105-93, to clinch the crown. The PBA initially scheduled play at the MOA last January before the spike in coronavirus disease 2019 (COVID-19) cases forced the suspension of games.

Gov’t partially awards reissued 7-year T-bonds on hawkish Fed

March 23, 2022 | 12:04 am

THE GOVERNMENT partially awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher yields on indications of half-point hikes from the US Federal Reserve.

The Bureau of the Treasury (BTr) raised just P15.69 billion via the reissued seven-year T-bonds it auctioned off on Tuesday, less than half the programmed P35 billion, even as the offering attracted P40.59 billion in bids.

The debt papers, which have a remaining life of six years and four months, were awarded at an average rate of 5.601%, up by 91.2 basis points (bps) from the 4.689% quoted when the series was last offered on Jan. 25.

The average yield fetched for the debt papers was also higher than the 5.4858% quoted for the seven-year tenor at the secondary market prior to the auction, based on the PHP Bloomberg Valuation Service Reference Rates published on the Philippine Dealing System’s website.

Had the Treasury made a full award of its offer, the reissued bonds would have fetched an average rate of 5.881%.

National Treasurer Rosalia V. de Leon said in a Viber message to reporters that the market has remained defensive after US Federal Reserve Chair Jerome H. Powell hinted on the possibility of 50-bp rate hikes at the next Federal Open Market Committee (FOMC) meetings.

“Meanwhile, higher inflation is seen this month with still elevated oil and commodities prices,” Ms. De Leon said.

A trader likewise said investors asked for higher returns in response to inflation risks and Mr. Powell’s indications of a 50-bp rate hike in May.

The US central bank must move “expeditiously” to bring too-high inflation to heel, Mr. Powell said on Monday, adding that it could use bigger-than-usual interest rate hikes if needed to do so, Reuters reported.

“The labor market is very strong, and inflation is much too high,” Mr. Powell told a National Association for Business Economics conference. “There is an obvious need to move expeditiously to return the stance of monetary policy to a more neutral level, and then to move to more restrictive levels if that is what is required to restore price stability.”

In particular, he added, “if we conclude that it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so.”

Fed policy makers last week raised interest rates for the first time in three years and signaled ongoing rate hikes ahead. Most of them see the short-term policy rate — pinned for two years near zero — at 1.9% by the end of this year, a pace that could be achieved with quarter-percentage-point increases at each of their next six policy meetings.

By the end of next year, Fed policy makers expect the central bank’s benchmark overnight interest rate to be at 2.8%, bringing borrowing costs to a level where they would actually start biting into growth. Most Fed policy makers see the “neutral” level as somewhere between 2.25% and 2.5%.

Meanwhile, the Philippine central bank is widely expected to maintain policy rates at record lows on Thursday even amid rising inflation risks in line with its signals it will continue to support economic recovery.

A BusinessWorld poll last week showed 15 out of 17 analysts still anticipate the Bangko Sentral ng Pilipinas (BSP) Monetary Board keeping rates on hold on March 24, the second policy review this year.

Analysts believe the BSP will remain focused on providing support for a more sustainable economic recovery despite inflationary risks caused by the Russia-Ukraine war.

The BTr wants to raise P250 billion from the domestic market this month, or P75 billion via T-bills and P175 billion from T-bonds.

The government borrows from local and external sources to help fund a budget deficit seen to hit 7.7% of gross domestic product this year. — Jenina P. Ibañez with Reuters

PGH proposes cancer center for the poor

March 23, 2022 | 12:04 am

PGH_Pediment — RAMILTIBAYAN/CC BY-SA 4.0/WIKIMEDIA COMMONS

A cancer center proposed by the University of the Philippines-Philippine General Hospital (UP-PGH) will provide optimal care for charity and paying patients in the same setting.

“It’s dramatic to think about it. It’s like a social coup,” said Dr. Gerardo “Gap” D. Legaspi, a neurosurgeon and director of the PGH, adding that the facility will be akin to a private hospital.

“Finally, in one hospital, you’ll have the poorest and the richest side-by-side. The poor won’t have to suffer in cramped wards anymore,” he told BusinessWorld in a March 18 Zoom call.

UP-PGH presented its cancer care center proposal on March 15 to the technical board of the National Economic and Development Authority and the Department of Finance. The planned cancer center, which will take three years to build once approved, is the first public-private partnership for cancer.

Seven companies (four foreign, three local) have signified interest in the project since it was made public in 2021.

The proposed center will be housed in a 3,000-square-meter lot on the Padre Faura side of PGH. It is envisioned as a 15–20 storey building with 150 beds for charity patients — enough to service the 60,000 outpatient care consultations the hospital currently handles per year. The proposal also allows for a 50–150 private facility for paying patients.

PGH has the most advanced cancer equipment to treat cancer at present, according to Dr. Legaspi. Among its facilities are a stereotactic radiosurgery unit for the radiation treatment of organs like the brain, a robotic surgery unit that enables less invasive surgery, and a next generation sequencing unit for the identification of tumor cells using genetic testing.

“PGH is strengthening its role as a national cancer referral center. That’s why the cancer center is necessary,” he added. “One of its distinguishing services will be the full range of surgical procedures that cannot be offered by most hospitals — from eye cancer surgery to taking out brain tumors while the patient is awake.”

The Department of Health supports UP-PGH by providing medications for breast, colorectal, pediatric, and gynecologic cancers, Dr. Legaspi said.

“Despite all the support we get, we still shell out P400 million from our budget,” he said. “Because we want all [patients to be treated]. Kasi ’pag kulang, sayang ’yung treatment [Because uncompleted treatments are a waste]. They go back to zero.”

Cancer was the third leading cause of death in the country during the first half of 2021, per the Philippine Statistics Authority. A 2020 report by the Economist Intelligence Unit (EIU), meanwhile, ranked the Philippines as last in cancer preparedness in the Asia-Pacific region.

Despite the progress afforded by its Universal Health Coverage program, the Philippines still faces challenges in terms of coverage and data collection, said Jesse Quigley Jones, editor of the EIU report, in a July 2021 media briefing.

According to Dr. Legaspi, no one hospital can provide all the answers: “The most important goal now is to be the template, to study the best ways on how to implement the provisions of the National Integrated Cancer Control Act — from primary care all the way to advanced research and everything in between.”

In September 2021, PGH broke ground for Felicidad Sy Hall, a 15-storey multispecialty building. — Patricia B. Mirasol

Cancer screening program

Alagang Breast Friend, an ongoing cancer screening program under the University of the Philippines-Philippine General Hospital (UP-PGH), conducts onsite mammograms in two vans donated by Hyundai Philippines that have been equipped with a digital mammogram and breast ultrasound machine.

The hospital plans to acquire more vans to continue and expand this outreach program, which detects 9–10% of the cancer incidence among the communities visited, in contrast to the 2% pickup rate in hospital screenings.

“Our experience is that, if you bring this service to communities, the chances of getting them earlier are much higher,” said PGH director Dr. Gerardo “Gap” D. Legaspi in a March 18 Zoom call. “If you bring [the services] to them, then they just step out of their homes.” — PBM

Creating in the time of the pandemic

March 23, 2022 | 12:04 am

Coffee table book documents art created under COVID-19’s cloud

IF THERE was a shape to describe book illustrator and artist Jomike Tejido’s feelings during the early days of the coronavirus disease 2019 (COVID-19) lockdown in 2020, it would be a roughly textured triangle.

“My works were composed of triangles that are very disjointed and seeking their own balance,” Mr. Tejido said of the pieces he kept busy with while in lockdown. “It is akin to people who are also finding their own balance in a very weird situation when the pandemic first hit.”

While many artists had the luxury of time to produce works of art during the lockdown, the galleries that would have shown them were closed. It was also when the team from Art Plus Magazine thought of documenting the period through a book.

From June to July 2020, the magazine’s team invited 12 galleries and various artists for a possible collaboration. The project was initially created to help the artists involved make a living despite the community quarantine.

The project culminated in a book titled Brave New World, which features more than 400 works by over 300 artists. The works in the book recount the artists’ struggles to survive and work. Artists also sought to honor the various frontliners who worked throughout the pandemic.

Among the featured artists in the Brave New World coffee table book are Jomike Tejido, Max Balatbat, Anton Del Castillo, Brave Mabalo Singh, John Paul Antido, Renz Baluyot, Kim Hamilton Sulit, Renato Barja, Jr., Wesley Valenzuela, Michael Villagante, Charlie Co, Antipas Delotavo, Angelito Antonio, Norma Belleza, Michael Cacnio, Ramon Orlina, Demi Padua, Winner Jumalon, Jojit Solano, Joel “Welbart” Bartolome, Sid Natividad, Chelsea Theodossis, Manix Abrera, Roel Obemio, and Alfredo Esquillo. Contributing writers include Prim Paypon, Ricky Francisco, Purissima Benitez-Johannot, Jose F. Lacaba, Jose Tence Ruiz, Pepper Teehankee, and Jack Teotico.

“It took us quite a while to produce the book because there were so many artworks to juxtapose and we were trying to make sure that they will go well together, [to] try to be cohesive given the wide variety of subjects and styles,” Jewel Chuaunsu, Art Plus magazine managing editor and the book’s editor, told BusinessWorld at the launch at The Podium’s Art Lounge Manila on March 16.

While the team was in the collection and curatorial process, they also mounted an online exhibition in July 2020 as a fundraiser for the artists and galleries.

“Many artists were not exhibiting at that early stage of the pandemic; a lot of the galleries were still closed. By this project, we were able to help them raise funds for their livelihood,” contributing writer and book content curator Ricky Francisco told BusinessWorld during the launch.

The book launch was accompanied by a second art exhibit featuring works by the contributing artists at The Podium’s Art Lounge Manila. The exhibit is on view until March 26.

“Art kind of adds a lot to our sense of identity, has given us our heritage, history, and nation. And I think these are things you can take for granted,” Ms. Chuaunsu said of the role of the arts at a time of crisis.

“This becomes really an important document of that short period of time. So, I hope people get to see it,” Mr. Francisco said.

Brave New World is available at a discounted price of P4,000 (the regular price is P4,500) until March 26. For orders, visit https://artplus.shop/products/brave-new-world-coffee-table-book. — Michelle Anne P. Soliman

Holcim profit up 24% to P2.6B

March 23, 2022 | 12:04 am

HOLCIM Philippines, Inc. on Tuesday reported that its net profit in 2021 was up 24.2% to P2.6 billion even with the “market pressures” it faced last year.

“Despite market pressures brought by the pandemic, weather disturbances that impacted the continuity of construction activities, and surges in energy and fuel prices, our company was able to deliver strong profit growth in 2021 from 2020,” Horia Adrian, president and chief executive officer of Holcim Philippines, said in a statement.

Operating earnings before interest and taxes grew by 29.3% year on year to P3.6 billion due to the company’s “sustained focus on operational efficiency and cost management.”

Net sales rose by 3.6% to P26.9 billion on improved volumes and prices given the modest recovery of construction activity.

In the fourth quarter of 2021, operating earnings before interest and taxes fell 49% to P481.3 million from P943.4 million while net sales dropped 5.6% to P6.8 billion from P7.2 billion, due to softer market demand and higher costs of energy and fuel from external developments.

“We are excited to further raise performance and deliver more positive impact through strategies and initiatives anchored on cost mindfulness, operational excellence, innovation, and sustainability. These are the foundations that enable us to continue growing profitably and contributing to the country’s development with our innovative building solutions and sustainability programs,” Mr. Adrian said.

Holcim Philippines said it is “well positioned to capture market opportunities through driving innovation on products and solutions.”

The building solution company said it is ramping up sustainability initiatives to “further improve business performance and make operations more respectful to the environment and beneficial to society.”

It launched Holcim Aqua X, a water-repellent cement that protects structures against excess moisture.

In November, the company launched Holcim ECOPlanet, a “green” general purpose blended cement ideal for structural applications that lowers the carbon footprint of buildings. It also has 30% lower carbon footprint than ordinary Portland cement.

The company also signed an energy purchase agreement that will make Holcim Philippines the first cement manufacturer in the country to be solar-powered.

At the stock exchange on Tuesday, Holcim Philippines shares went up by 1.10% or P0.06 to close at P5.51 apiece. — Luisa Maria Jacinta C. Jocson

Tolentino sees top three overall finish for PHL in Hanoi

March 23, 2022 | 12:03 am

POC-Abraham Tolentino — PHILSTAR FILE PHOTO

PHILIPPINE Olympic Committee President Abraham Tolentino is leaving it all up to prayers that the country could duplicate, if not surpass, the 149 gold medals it scooped up in the last Southeast Asian Games in Manila two years ago in the Hanoi Games slated for May 12 to 23.

“We’ll just pray that our athletes can defend the 149 gold medals we won the last time,” said Mr. Tolentino during Tuesday’s online Philippine Sportswriters Association (PSA) Forum.

The PSA executive of the year awardee was coming off the chef de mission meeting in Hanoi over the weekend and reported that host nation had already accepted the country’s entry by name roster that included World No. 5 pole-vaulter Ernest John “EJ” Obiena.

“They’ve already accepted our entry by name and we’re just waiting for the final confirmation,” said congressman from Tagaytay.

The PhilCycling chief remained firm of his original forecast of a top three finish by the Filipinos in the biennial games behind the host country, which is expected to run away with the overall title.

“Malaysia has fielded in less than 800 athletes. Indonesia and Thailand remained heavyweights. A top three finish is our goal,” he said.

Mr. Tolentino reported the first Filipino athletes to plunge into action will come from men’s football, beach handball and kickboxing on May 6 followed by diving on May 8; rowing on May 9; chess, men’s futsal, women’s futsal, pencak silat and kurash on May 10; and women’s football in May 11.

And the rest of the country’s bets will follow on May 13 or a day after the May 12 inaugurals. — Joey Villar

Satellite technology seen to help banks ensure business continuity during disasters

March 23, 2022 | 12:03 am

THE CENTRAL BANK said liberalized access to satellite technology can help banks ensure continued operations during disasters. — BW FILE PHOTO

LIBERALIZED ACCESS to satellite technology is expected to benefit banks and their clients as it could help ensure business continuity during disasters.

“With enhanced access to satellite broadband services, financial institutions can improve their disaster recovery plans as part of their resilience strategy. They will also be able to set up more access points, such as branch lite operations, ATMs, and cash agents in underserved areas,” Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said in a statement on Tuesday.

The Department of Finance earlier said the country loses an average of P48.9 billion due to climate events, equivalent to about 0.33% of the average gross domestic product. This, as the country is struck by around 20 tropical cyclones annually.

The central bank through Circular 1128 last year told banks to do a yearly assessment of the impact of environment and social risks on their operations. This would include assessment of a bank’s capability to withstand disruptions, resume operations and continue to provide services.

Mr. Diokno noted how Cantilan Bank, Inc., a rural lender in Mindanao, made use of satellite technology when Typhoon Odette struck Siargao.

The bank said their recently installed aperture terminals restored online connectivity and ATM (automated teller machines) operations of their Del Carmen and Dapa branches in Siargao City.

Some areas in Visayas and Mindanao continue to have no internet connection and electricity for more than two months since Typhoon Odette hit them in December.

“By supplementing our network redundancy measures with VSAT connectivity, the bank effectively provided a contingency measure for branches operating in disaster-stricken areas,” Cantilan Bank Executive Vice-President Tanya Hotchkiss was quoted as saying.

Executive Order (EO) 127 signed last year by President Rodrigo R. Duterte gave telco players and other businesses wider access to all satellite systems.

It was supported by the Financial Inclusion Steering Committee, which is headed by the BSP, the National Economic and Development Authority, the National Telecommunications Commission, and the government’s task force for pandemic response.

“The BSP is optimistic that with EO No. 127 and other market-enhancing policy reforms being introduced, satellite broadband services will become more accessible and affordable, which will further boost digital financial inclusion in the country,” the central bank said.

About 53% of Filipino adults had a basic deposit or e-money account as of the first quarter of 2021, the BSP earlier said.

Meanwhile, digital payments made up 20.1% of all transactions in 2020, based on central bank data.

By 2023, the BSP hopes that 70% of adult Filipinos will have an account with a financial institution. It also wants 50% of transactions done online in the same year. — L.W.T. Noble

Warhol painting of Marilyn Monroe expected to fetch $200 million at auction

March 23, 2022 | 12:03 am

NEW YORK — A portrait of actress Marilyn Monroe by 1960s pop icon Andy Warhol will go up for auction in May with an estimated value of $200 million, which would set a record, Christie’s announced on Monday.

The work, Shot Sage Blue Marilyn, “is poised to be the most expensive painting of the 20^th century ever sold at auction,” said Alex Rotter, Christie’s chairman of 20^th and 21^st century art.

The 1964 likeness of Monroe’s face screenprinted with bright yellow hair, a pink face, and light blue eyeshadow, is one of five paintings Warhol made of Monroe.

Warhol “used a screening technique on these paintings, on this painting, that he never used again. It was way too complicated, way too involved,” said Mr. Rotter.

The work comes from the Thomas and Doris Ammann Foundation in Zurich. All the proceeds of the sale will benefit the foundation, which is dedicated to improving the lives of children around the world.

“The sale of this single painting will constitute the highest grossing philanthropic auction since the collection of Peggy and David Rockefeller in 2018,” said Christie’s American Chairman Marc Porter.

Christie’s says the highest price paid for a Warhol was for the painting Silver Car Crash (Double Disaster), which sold for $105 million in 2013. — Reuters

Wilcon taps Meralco’s Spectrum to install solar power systems

March 23, 2022 | 12:03 am

MSPECTRUM, Inc. is set to install a total of 1,306.46-kilowatt peak of solar photovoltaic (PV) systems in five stores of Wilcon Depot, Inc.

“The solar panels will have a combined annual generation capacity of 1.7 million kilowatt hours of clean energy and are expected to reduce Wilcon’s carbon footprint by 1,222 tons annually. This is equivalent to 2.5 million trees planted,” the companies said in a joint media statement on Tuesday.

Manila Electric Co.’s (Meralco) solar company, also known as Spectrum, will install solar panels with a combined annual generation capacity of 1.7 million kilowatt-hours of clean energy. The panels are expected to cut Wilcon’s carbon footprint by 1,222 tons yearly, which is said to be equivalent to planting 2.5 million trees.

The branches that will soon have solar panels on their roof are in: Antipolo, Rizal; General Trias, Cavite; Tayabas, Quezon; Jaro, Iloilo; and Makato, Aklan.

Once fully installed, the project is expected to allow Wilcon to save P5.15 million in power costs every year. Wilcon has already solarized 39 out of its 74 stores nationwide before the partnership with Spectrum.

“Wilcon Depot has partnered with Spectrum in support of our sustainability journey as they speak quality, character, and excellent service in each project. We are thankful to have such an outstanding organization in enabling Wilcon to achieve our sustainability goals,” Wilcon President and Chief Executive Lorraine Belo-Cincochan said, as quoted by Meralco during the ceremonial launch of the solar project held on March 22 in Antipolo City.

Spectrum President and Chief Executive Ferdinand O. Geluz said Wilcon had the foresight in mitigating the impact of unstable fuel prices and low power supply.

“Not only does [solar power] reduce carbon footprint, it also lessens energy costs which drives operational efficiency,” Mr. Geluz said.

Wilcon reported a 22.8% increase in net income to P692 million in the fourth quarter last year, as the retailer’s gross profit margin improved with the higher contribution from its in-house brands. For the whole 2021, the company posted a 76.8% income jump to P2.56 billion.

Meralco, on the other hand, posted a 9.5% increase in core net income in the fourth quarter last year to P6.55 billion as energy sales volume surged. For full-year 2021, the power distribution giant reported a consolidated core net income of P24.61 billion, 13.4% higher than in 2020.

Meralco shares at the stocks exchange climbed P10.80 or 3.01% to close at P369.80 each on Tuesday. — Marielle C. Lucenio

Lift ban on morning-after pills to curb teen pregnancy, NGO urges

March 23, 2022 | 12:03 am

reproductive-health-supplies-coalition — UNSPLASH

By lifting the ban on emergency contraceptive (EC) pills, the Food and Drug Administration (FDA) could help curb high rates of teenage pregnancy in the Philippines, according to reproductive healthcare and family planning advocates.

“EC pills, which are one possible solution to the teen pregnancy crisis, are taken within 72 hours of sexual activity, but they’re not available in the Philippines,” said Hyam Asher Bolande, chair of DKT Philippines Foundation, a nonprofit organization that works with community health workers to increase contraceptive uptake.

Teenage pregnancy in the country affects 6% of Filipino girls, the second highest rate in Southeast Asia, he said at a March 15 virtual forum, citing a 2019 report by Save the Children.

In 2021, President Rodrigo R. Duterte signed an executive order declaring the prevention of teen pregnancy a “national priority.” Since then, the government has tried to ramp up sexual and reproductive health education among the youth.

EC pills, or morning-after pills, are an undervalued solution that should also be looked into, according to DKT. These have been banned in the Philippines for 20 years.

“The EC pill is a readily available solution that’s safe, effective, and widely used worldwide (in 147 other countries),” said Mr. Bolande. “Usage studies overseas have shown that young women and girls, in particular, favor this contraceptive method.”

The last time an EC pill was approved for importation and sale in the country was 2001, when the Bureau of Food and Drugs declared the pill Postinor as “abortifacient,” meaning it causes abortion, and revoked its registration.

A study by the DKT Philippines Foundation conducted in October 2021 found that 68% of medical doctors involved in family planning believed that the FDA should remove the ban, while 22% were undecided and 10% were opposed to it.

Experts said that having an EC pill available on the market would help address teen pregnancy, which is projected to bounce back due to the easing of lockdowns.

“The root causes of the problem [teenage pregnancy] were never addressed. We just had a respite in 2020 because the quarantines kept teenagers at home,” said Dr. Mario Festin, a family planning specialist from the University of the Philippines College of Medicine.

He added that Levonorgestrel, a component of many oral and hormonal contraceptives, implants, and intrauterine devices (IUDs), is scientifically proven to be safe.

PURSUIT OF WOMEN’S HEALTH
Mona S. Diones, the Iloilo chapter manager of the Family Planning Organization of the Philippines, shared in a BusinessWorld B-Side podcast episode that opposing views on sex and reproductive health present challenges in a predominantly Catholic country like the Philippines.

“Our conservatives, they bend towards pro-life policies, which are, most of the time, at odds with pro-choice advocacies,” she said. “The pursuit of women’s health and well-being — we are all promoting the right [of] being empowered women.”

It is especially difficult to talk about contraceptives, especially for young people who need to access such services. Despite World Health Organization (WHO) guidelines stating that EC pills don’t end pregnancy but just prevent it by delaying the release of eggs from the ovaries, many conservative Filipinos will still oppose their return to the market.

A previous study done by DKT found that 68% of 500 unmarried, sexually active women aged 18 to 29 have experienced unprotected sex, but only 1 in 4 were aware of EC pills as a means of contraception.

When told about such pills, 73% of respondents said they would be interested in using them if ever they would become available in the Philippines.

“EC pills are good for those who don’t have sex often because you will only need to take the pill in the occasions you have sex,” said Dr. Junice L.D. Melgar, director of the Likhaan Center for Women’s Health. It’s also used when other contraception methods fail, such as in cases when a birth control user forgets a dose or a condom slips or breaks during sex.

Yuzpe Method is the alternative that’s prescribed here in the Philippines since EC pills are not available, she added. Approved by the Department of Health, it involves taking two enlarged doses of daily combined oral contraceptive pills.

However, since these are not made with that purpose, severe side effects like nausea and vomiting are common among those who resort to the method.

“This is the motivation for women who, regardless of the non-availability for now of the more effective and more convenient Levonorgestrel, nagtiyatiyaga sa (choose to bear with) side effects ng Yuzpe because it’s the only thing they have,” said Dr. Melgar.

“The thing they need to balance with that is, what if they get pregnant if they don’t use anything? That’s a big burden to women, especially young women.”

For this reason, the WHO recommends EC pills over the Yuzpe Method. A 2019 analysis of published research by the Cochrane Database of Systematic Reviews also found that the EC pill is overall more effective at preventing pregnancy.

Dr. Melgar added: “Yuzpe is good but it’s really a crime that there is technology that has been available for many years and it’s just denied to women here.” — Brontë H. Lacsamana

Wild card entry Eala faces Brengle in Miami Open

March 23, 2022 | 12:02 am

ALEX M. Eala faces a tall order in her return to the Miami Open with a tough first-round duel against Women’s Tennis Association (WTA) No. 59 and home bet Madison Brengle at the Hard Rock Stadium on Wednesday.

A wild card entry, the 16-year-old Filipina netter eyes to spring an upset in the lower half of the stacked 128-player field for a chance to meet WTA No. 30 Liudmila Samsonova of Russia in the next round.

Ms. Eala is at 565^th of the WTA list, making her mission a giant mountain to scale opposite the 31-year-old American as her highest-ranked opponent so far in her young pro career.

It will be Ms. Eala’s second stint in the Miami Open after gaining a wild card qualifying berth last year. She, however, absorbed a quick first-round exit at the hands of Slovakia’s Viktoria Kuzmova.

This time, Ms. Eala is through to the main draw of the elite tourney that also features No. 1 seed Aryna Sabalenka, second-seeded Iga Świątek, Simona Halep, Angelique Kerber, Coco Gauff, Emma Raducanu, Naomi Osaka, and Filipina-Canadian Leylah Fernandez.

World No. 1 and reigning champion Ashleigh Barty is out of the picture for the meantime after her withdrawal due to her ongoing recovery from consecutive campaigns highlighted by a championship in the 2022 Australian Open.

Ms. Eala’s preparations for the Miami Open included participation in five straight events so far capped by a Round-of-16 finish in the W25 Joue les Tours in France earlier this month. — John Bryan Ulanday

China may push back easing to Q2

March 23, 2022 | 12:02 am

ECONOMISTS pushed back their expectations of another cut in China’s reserve requirement ratio (RRR) to next quarter, with the government so far stopping short of giving a clear signal of a near-term policy move.

Only nine of the 21 economists surveyed by Bloomberg expect a cut in the ratio — or the amount of cash banks have to hold in reserve — to happen in March. In the previous survey in February, 15 out of the 20 analysts had predicted a reduction by the end of this month.

Analysts continue to expect the People’s Bank of China (PBoC) to lower the key policy interest rate on its one-year medium-term lending facility by 10 basis points in the second quarter. They forecast a reduction in the de facto benchmark lending rate, the one-year loan prime rate, by the same magnitude in the period.

“Given the momentum in China’s economy slowed at year end, we felt additional stimulus was not required immediately,” said Elliot Clarke, a senior economist at Westpac Banking Corp. Stimulus will “provide a better return if delivered slowly through 2022,” he said.

Analysts started to anticipate another cut in the RRR after a top financial committee met last week and made a strong pledge to boost market confidence. However, the government hasn’t followed up with any specific steps yet, and a State Council meeting on Monday chaired by Premier Li Keqiang didn’t provide a signal on any monetary policy tool that could be used.

The Bloomberg survey of economists was conducted after the financial committee’s meeting last week but before the State Council’s one this week.

The PBoC shifted to an easing bias late last year to support a weakening economy. It guided credit growth higher and delivered a cut in policy interest rates in January. However, the growth outlook has continued to worsen in the wake of the biggest COVID-19 outbreak since the initial cases in Wuhan and financial market turmoil following Russia’s invasion of Ukraine.

The Financial Stability and Development Committee, chaired by Vice Premier Liu He, said last week that monetary policy will be more proactive to shore up growth.

The loan prime rates could also be lowered in the second quarter after they were left unchanged on Monday, the China Securities Journal — managed by the official Xinhua News Agency — said in a report Tuesday, citing analysts including Wang Yifeng at Everbright Securities.

“We expect Beijing to continue with piecemeal easing of monetary and fiscal policy, as well as a cautious relaxation of macroprudential standards including for real estate,” said Arjen van Dijkhuizen, senior economist at ABN Amro NV.

The latest Bloomberg survey also shows a cut in economists’ growth projections for this year to 5% from 5.1% in the February poll. That’s lower than the official growth target of about 5.5%.

A new wave of COVID-19 infections have led to regional lockdowns, while a persistent slump in the housing market continues to weigh on economic activity. Weakness in consumption and an expected slowdown in exports later this year all constitute a challenge to the authorities’ growth goal. — Bloomberg