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Climate change is killing the world’s coral reefs as oceans warm -study

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The world’s coral reefs are under attack by climate change and more will disappear if oceans keep warming, according to a report released Tuesday.

The study by the Global Coral Reef Monitoring Network (GCRMN), a U.N.-supported global data network, showed that 14% of the world’s coral on reefs was already lost between 2009 and 2018, equal to about 11,700 square kilometers, an area 2.5 times the size of Grand Canyon National Park.

Corals face an “existential crisis,” scientists said, as sea surface temperatures rise. The report spanned data for 40 years, 73 countries and 12,000 sites. Sharp spikes in warming are particularly damaging, a phenomenon scientists say is linked to human-caused climate change.

The study looked at 10 coral reef-bearing regions around the world and found that loss was mainly attributed to coral bleaching, which happens when corals, under stress from warmer water, expel the colorful algae living in their tissues, making them turn white. One severe bleaching event in 1998 alone killed 8% of the world’s corals, the study said.

The hardest hit areas are South Asia, Australia, the Pacific, East Asia, the Western Indian Ocean, the Gulf and Gulf of Oman.

Overfishing, unsustainable coastal development and declining water quality are other factors battering the reefs.

“There are clearly unsettling trends toward coral loss, and we can expect these to continue as warming persists,” said Paul Hardisty, chief executive of the Australian Institute of Marine Science, in a statement shared by the United Nations.

The global ocean has warmed faster over the past century than since the end of the last deglacial transition, around 11,000 years ago, the Intergovernmental Panel on Climate Change (IPCC) said in a landmark report in August.

While coral reefs cover less than 1% of the ocean floor, they support more than 25% of marine biodiversity, including turtles, fish and lobsters, which fuel global fishing industries. The reefs are responsible for an estimated $2.7 trillion annually in goods and services, including tourism, the report said.

Scientists did find, however, there was about a 2% regain among coral reefs 2019, showing they can be resilient when given respite from the siege of factors working against them. If pressure is relieved on the coral reefs, they could flourish again within a decade to pre-1998 levels, the report said.

Recent efforts to support coral reefs include a mitigation project off the coast of Caribbean nation Antigua and Barbuda called Ocean-Shot, which uses technology that mimics the design and shape of natural reefs to provide opportunities for colonization by corals and other marine life. – Reuters

EDC, partners switch on first off-grid e-community in the country

The residents of Barangay Puhagan, Valencia, Negros Oriental will no longer have to travel for at least 40 minutes to Dumaguete City to get free wifi, thanks to the wireless internet connection that First Gen-owned Energy Development Corporation (EDC) has provided with its partners Department of Information and Communications Technology, Negros Oriental Chamber of Commerce & Industry, and the local government of Valencia, Negros Oriental.

Yesterday’s combined on-site and Zoom event for the switch-on ceremony for the country’s first off-grid e-community was symbolic of the new normal way of holding meetings, gatherings, and even connecting with family and friends since the COVID-19 pandemic started last year.

Little did we know that a good internet connection will become essential for people to cope with their daily lives as students, employees, even as priests and other religious people, for companies to actually do business, and most of all, for all of us to emotionally connect with our loved ones both near and far. Having an internet connection has become a must for all of us to live,” said Atty. Allan V. Barcena, head of EDC’s Corporate Social Responsibility and Public Relations Division in his message during the switch on ceremony.

For almost 40 years, renewable energy leader EDC has been providing an uninterrupted source of clean 24/7 energy to Negros Island and other parts of the Luzon and Visayas regions from its 222.5MW geothermal facility in Valencia, Negros Oriental. Located in an off-grid or geographically isolated mountainous area, Barangay Puhagan is one of EDC’s three partner barangays in the municipality that also include Barangays Caidiocan and Malaunay.

Negros Oriental Governor Roel R. Degamo; Norreen G. Bautista, head EDC’s Corporate Social Responsibility team in Negros; former NOCCI president and now Central Visayas regional governor of the Philippine Chamber of Commerce Edward C. Du; DICT regional director Frederick Amores; and other local and barangay officials led the switch-on ceremony.

Brgy Puhagan in Valencia, Negros Oriental is now connected to the digital world. Norreen Bautista, head of EDC’s CSR team in Negros; Negros Oriental Roel Degamo; DICT Regional Director 7 OIC Frederick Amores; PCCI Region 7 Governor Ed Du; Brgy Captain Leonarda Sarita; DICT Provincial Director Aurelio Tinapay; and NTC Provincial Director Engr Felipe Gumalo led the switch on ceremony for EDC’s pilot e-community project in the province.

Through this e-community project of EDC and its partners, Brgy. Puhagan now has a free wifi facility in its barangay hall. DICT provided the procurement of the fixed wireless broadband network with a 40mbps bandwidth, Valencia Mayor Edgar Y. Teves and his LGU provided logistical and regulatory support, while NOCCI generously provided fixed wireless solar technology and a redundant broadband network design to ensure uninterrupted connectivity for the residents of Barangay Puhagan. EDC provided cash donation for the cost of labor and the purchase of necessary materials and equipment.

This initiative is part of our mission to forge collaborative pathways for a decarbonized and regenerative future–which is essentially about creating exponential positive impact by elevating our environment and our stakeholders,” added Barcena.

Degamon thanked NOCCI, DICT family, and EDC for their continued efforts in bringing this project to Barangay Puhagan. “Having a strong and stable internet connection is very important especially during this pandemic for us to always be aware of the latest information to address COVID-19,” he added.

Barangay Puhagan Chair Leonarda Sarita wholeheartedly accepted this project and said: “It is my pride to accept this free public wifi service for and on behalf of the people of Brgy. Puhagan as we look forward to more fruitful and mutually beneficial engagements with EDC and all our partners who worked behind this project. Thank you very much! We didn’t expect that this free WiFi program would reach our barangay.”

Du likewise lauded this strong synergy that should serve as a model and showcase for all LGUs in the country especially during these trying times. “This is the first in the country and hopefully this will be a model [project] nationwide for isolated areas like Puhagan. In fact, there are students right now at the Barangay Gym who are connecting to the free WiFi for their classes, and there are residents who are working from home.”

This pilot project of EDC, DICT, NOCCI and Valencia LGU will soon be duplicated in EDC’s other partner barangays in the municipality to establish similar e-communities. A virtual platform for their residents to learn and exchange best practices in governance, health and safety especially during this pandemic, and environmental protection will eventually be put up for them.

“This DICT program aims to improve internet access for all Filipinos in order for them to join our digital economy wherever they are in the country,” said DICT Secretary Gregorio “Gringo” Honasan II in his recorded message for the event.

EDC’s over 1,480MW total installed capacity accounts for 20 percent of the country’s total installed renewable energy capacity. Its almost 1,200MW geothermal portfolio comprises 62 percent of the country’s total installed geothermal capacity and has put the Philippines on the map as the 3rd largest geothermal producer in the world.

 


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Philippines pushes back full COVID vaccination target to 2022

The Philippines will take longer to reach its goal of fully vaccinating 70% of its population, which officials said will be achieved in February before the 2022 elections, instead of this year.

Half of the population will be fully inoculated by year-end, vaccine czar Carlito Galvez said at a televised meeting with President Rodrigo Duterte on Monday night. Up to 160 million doses will be delivered within the year, Galvez said.

The Philippines is lagging peers in Southeast Asia in the vaccine rollout, with about 23% of the population fully vaccinated, compared with 63% in Malaysia. The slow progress is hampering the easing of mobility curbs, which is hurting the economic growth outlook for this year.

The Philippine government is in talks with up to 5 vaccine makers for 90 million doses with delivery expected to start in the first quarter of next year. A deal for 6 million doses of Johnson & Johnson’s COVID vaccine is expected to be signed this week, Galvez said. — Bloomberg

Facebook, Instagram, WhatsApp reconnecting after nearly six-hour outage

REUTERS

Facebook, Instagram, Messenger and WhatsApp lit up again late on Monday afternoon Eastern time after a nearly six-hour outage that prevented the company’s 3.5 billion users from accessing its social media and messaging services.

Facebook apologized but did not immediately explain what caused the failure, the largest ever tracked by web monitoring group Downdetector.

The outage was the second blow to the social media giant in as many days after a whistleblower on Sunday accused the company of repeatedly prioritizing profit over clamping down on hate speech and misinformation.

As the world flocked to competing apps such as Twitter and TikTok, shares of Facebook fell 4.9%, their biggest daily drop since last November, amid a broader selloff in technology stocks on Monday. Shares rose about half a percent in after-hours trade following resumption of service.

“To every small and large business, family, and individual who depends on us, I’m sorry,” Facebook Chief Technology Officer Mike Schroepfer tweeted, adding that it “may take some time to get to 100%.”

Several Facebook employees who declined to be named said that they believed that the outage was caused by an internal mistake in how internet traffic is routed to its systems. The failures of internal communication tools and other resources that depend on that same network in order to work compounded the error, the employees said.

Security experts said an inadvertent mistake or sabotage by an insider were both plausible.

Facebook basically locked its keys in its car,” tweeted Jonathan Zittrain, director of Harvard’s Berkman Klein Center for Internet & Society.

Twitter on Monday reported higher-than-normal usage, which led to some issues in people accessing posts and direct messages.

In one of the day’s most popular tweets, video streaming company Netflix shared a meme from its new hit show “Squid Game” captioned “When Instagram & Facebook are down,” that showed a person labeled “Twitter” holding up a character on the verge of falling labeled “everyone.”

Inside a Facebook group for ad buyers, one member wisecracked after service returned that “lots of people searched today ‘how to run google ads for clients.'”

Facebook, which is the world’s largest seller of online ads after Google, was losing about $545,000 in U.S. ad revenue per hour during the outage, according to estimates from ad measurement firm Standard Media Index.

Past downtime at internet companies has had little long-term affect on their revenue growth, however.

Facebook‘s services, including consumer apps such as Instagram, workplace tools it sells to businesses and internal programs, went dark noon Eastern time (1600 GMT). Access started to return around 5:45 pm ET.

Soon after the outage started, Facebook acknowledged users were having trouble accessing its apps but did not provide any specifics about the nature of the problem or say how many users were affected.

The error message on Facebook‘s webpage suggested an error in the Domain Name System (DNS), which allows web addresses to take users to their destinations. A similar outage at cloud company Akamai Technologies Inc took down multiple websites in July.

On Sunday, Frances Haugen, who worked as a product manager on the civic misinformation team at Facebook, revealed that she was the whistleblower who provided documents underpinning a recent Wall Street Journal investigation and a U.S. Senate hearing last week on Instagram’s harm to teen girls.

Haugen was due to urge the same Senate subcommittee on Tuesday to regulate the company, which she plans to liken to tobacco companies that for decades denied that smoking damaged health, according to prepared testimony seen by Reuters. – Reuters

Inflation eases in September

THE OVERALL year-on-year increase in prices of widely used goods eased in September primarily due to the lower annual increase in transport prices, the Philippine Statistics Authority (PSA) reported earlier this morning.

Preliminary PSA data showed headline inflation at 4.8% in September, slowing from the year-on-year rate of 4.9% in August. Still, this was above the 2.3% print recorded in September last year.

The latest headline figure is below the 5% median in a BusinessWorld poll conducted late last week, and is at the low-end of the 4.8%-5.6% estimate given by the Bangko Sentral ng Pilipinas (BSP) for September. 

Year-to-date inflation settled at 4.5%, still above the BSP’s 2-4% target this year and above the forecast of 4.4% for the entire year.  

Core inflation, which discounted volatile prices of food and fuel, stood at 3.3% percent in September — steady from the previous month but slightly faster than last year’s 3.2%. It averaged 3.3% so far this year.

“The slower pace in the overall inflation in September 2021 was mainly due to the lower annual rate of increment in the transport index at 5.2% during the month, from 7.2% in the previous month,” the PSA said in a statement.

The PSA also noted slower annual rates in the following indices: food and non-alcoholic beverages (6.2% from 6.5% in August); furnishing, household equipment, and routine maintenance of the house (2.4% from 2.5%); communication (0.2% from 0.3%); and education (0.9% from 1.1%).

The food-alone index likewise eased to 6.5% in September from 6.9% in August. However, this was still faster than the annual 1.5% print recorded in September 2020.

Similarly, the September inflation rate for the bottom 30% of income households also eased to 5% from 5.3% the previous month. Still, this was faster than the previous year’s 2.8%.

From January to September, the bottom 30% inflation averaged 4.9%. — Abigail Marie P. Yraola

OPEC+ sticks to plan for gradual oil output hike, price roars higher

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LONDON – OPEC+ said on Monday it would stick to an existing pact for a gradual increase in oil output, sending crude prices to three-year highs and adding to inflationary pressures that consuming nations fear will derail an economic recovery from the pandemic.

The Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, have faced calls from big consumers, such as the United States and India, for extra supplies after oil prices surged more than 50% this year.

OPEC+ “reconfirmed the production adjustment plan”, the group said in a statement issued after online ministerial talks, referring to a previously agreed deal under which 400,000 barrels per day (bpd) would be added in November.

Brent crude roared above $81 a barrel on news that the group would stay with its plan for gradual additional production, rather than offering more supply to the market.

“We will be monitoring the situation, as we know, demand usually falls in the fourth quarter,” Russian Deputy Prime Minister Alexander Novak said after the talks, adding that he believed the market is now balanced.

An OPEC+ source had told Reuters shortly before Monday’s ministerial talks that the group had faced pressure to ramp up production faster, but added: “We are scared of the fourth wave of corona; no one wants to make any big moves.”

The group agreed in July to boost output by 400,000 bpd a month until at least April 2022 to phase out 5.8 million bpd of existing production cuts – already much reduced from the huge curbs that were in place during the worst of the pandemic.

Demand has bounced back swiftly, while supply has been disrupted by factors that include hurricanes that have hammered U.S. production, and low levels of investment across the industry during the depths of the pandemic when demand cratered.

A senior aide to U.S. President Joe Biden met Saudi Crown Prince Mohammed bin Salman in Saudi Arabia on a range of issues last week, saying oil was “of concern”. India, another big oil consumer, has pushed for more supply.

“The outcome of the OPEC+ meeting was no surprise, but when prices are at above $80 per barrel Brent, this is a level that makes customers uncomfortable and producers happy but cautious,” consultancy Rystad Energy wrote.

Analysts had said they expected uncertainty about the impact on demand from variants of the coronavirus, which threaten fresh economic disruption, to weigh on OPEC+ decision-making. — Reuters

Wilcon Depot offers month-long anniversary sale

Plus a raffle promo for a chance to win a Shopping Spree Treat!

Make your dream home come to reality—Wilcon Depot, the Philippines’ leading home improvement and building store, celebrates its anniversary with an exciting month-long offering, “Wilcon Dream Home Makeover Anniversary Sale”.

Experience a memorable anniversary celebration as Wilcon Depot brings a month-long big sale to its valued customers. Shoppers can enjoy up to 50% discount on their wide selection of products, from an excellent array of high-quality Tiles, Sanitarywares, Plumbing, Furniture, Home Interior, Building Materials, Hardware, Electrical, Appliances, and other DIY items. 

Wilcon Loyalty Members can also get the chance to enjoy a P120,000 worth of shopping spree. For every P5,000 worth of purchase in a single-receipt, customers are entitled to one electronic raffle entry. 

If you’re still not a Wilcon Loyalty Member yet, you can easily apply to Wilcon Loyalty Program with ₱5,000.00 single or accumulated worth of purchase. Just present your receipt/s, Valid ID, and provide the required pertinent details and you’re good to go!

Four (4) lucky winners of P120,000 worth of Wilcon gift cards will be randomly picked via electronic raffle draw at Wilcon Depot Main Office with the presence of DTI Representative/s on the following dates:

  • October 13, 2021 – for week 1 (October 1-8), registered entries 
  • October 20, 2021 – for week 2 (October 9-15), registered entries
  • October 27, 2021 – for week 3 (October 16-23), registered entries
  • November 12, 2021 – for week 4 (October 24-31), registered entries

Participating customers can register and check their accumulated entries online at wilcon.com.ph/upload/dreammakeoverpromo

Every homeowner and builder can enjoy these rewarding home shopping treats from Wilcon Depot starting October 1, 2021, until October 31, 2021 in all Wilcon Depot and Wilcon Home Essentials stores nationwide, and promo is also on Wilcon Online Store.

Visit any of their 69 retail outlets nationwide or experience more convenient home shopping with Wilcon Online Store by visiting shop.wilcon.com.ph.

To get more updates and the full mechanics of this promo, you can log on to www.wilcon.com.ph. You can also follow their social media accounts on Facebook and Instagram. Subscribe and connect with them on Viber Community, LinkedIn, and YouTube.  #WilconRafflePromo #WilconDreamHomeMakeoverAnniversarySale

Terms and Conditions apply. Per DTI Fair Trade Permit No. FTEB-126975, series of 2021.


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Facebook, Instagram, WhatsApp down in global outage

Facebook Inc’s main social media site, popular photo-sharing platform Instagram and messaging app WhatsApp, were down for tens of thousands of users, according to outage tracking website Downdetector.com.

Reuters could not immediately confirm the issue affecting the services. However, the error message on Facebook‘s webpage suggested a Domain Name System (DNS) error.

DNS allows web addresses to take users to their destinations. A similar outage at cloud company Akamai Technologies Inc took down multiple websites in July.

“We’re aware that some people are having trouble accessing our apps and products,” the social media giant’s official Twitter handle said on Monday.

“We’re working to get things back to normal as quickly as possible, and we apologize for any inconvenience.” The official handles of WhatsApp and Instagram also took to Twitter to confirm the outage.

Facebook shares fell 5.5% in afternoon trading on Monday, inching towards its worst day in nearly a year.

Downdetector, which only tracks outages by collating status reports from a series of sources, including user-submitted errors on its platform, showed there were more than 50,000 incidents of people reporting issues with Facebook and Instagram. The outage might be affecting a larger number of users.

Meanwhile, the social-media giant’s instant messaging platform WhatsApp was also down for over 35,000 users, while Messenger was down for nearly 9,800 users.

Facebook has experienced similar widespread outages with its suite of apps this year in March and July.

Several users using their Facebook credentials to log in to third-party apps such as Pokemon Go and Match Masters were also facing issues.

“If your game isn’t running as usual please note that there’s been an issue with Facebook login servers and the moment this gets fixed all will be back to normal,” puzzle game app Match Masters said on its Twitter account. – Reuters

BSP caps digital bank licenses at six

BW FILE PHOTO

THE BANGKO SENTRAL ng Pilipinas (BSP) has capped the number of digital banking licenses to six after the remaining applicants failed to meet the requirements, BSP Governor Benjamin E. Diokno said on Monday.

“We have approved six digital banks and it will remain at six,” Mr. Diokno told an annual conference event of the Financial Executives Institute of the Philippines (FINEX).

The BSP decided not to increase the number of licenses to seven as previously announced after the nine entities with pending applications failed to submit documentary requirements, he said.

Mr. Diokno said keeping the number of licensed digital banks at six for the meantime should allow regulators to closely monitor developments, and ensure there is healthy competition among digital banks and traditional lenders.

The application period for digital banking licenses ended on Aug. 31.

In a separate Viber message, the central bank chief said the Monetary Board (MB) could still reopen the window for applications if needed.

“The MB reserves the right to reopen the application subject to the need for more and the impact of the six digital banks on competition in the banking sector. Remember there are more than 500 universal and commercial, thrift, rural and cooperative banks already,” Mr. Diokno said.

He said one or two banks that secured their licenses are ready to operate, while others need more time to establish their operations.

Digital banks have a three-year window to operate after they get the license.

The first bank to obtain the new license was Overseas Filipino Bank, a subsidiary of state-owned Land Bank of the Philippines.

Also granted digital banking licenses were Tonik Digital Bank, Inc. (Philippines), UNObank, Aboitiz-led Union Digital Bank, and GOtyme, which is owned by the Gokongwei Group and Singapore financial technology (fintech) firm Tyme.

The BSP gave the sixth license to Maya Bank, the fintech arm of Voyager Innovations, Inc.

Mr. Diokno said lenders that gor their licenses are not required to set up branches or even branch-lite units, but are expected to maintain one headquarter office to minimize operating costs and focus their investments on new technology instead.

However, he said digital banks are also subject to “prudential requirements” that are imposed on traditional lenders.

Lenders with digital banking licenses are expected to help the BSP reach its goal of bringing 70% of Filipinos into the formal banking system and have 50% of transactions done online by 2023.

Mr. Diokno said the Philippines could still achieve a digital payments-driven and cashless society in 10 years.

“I see the day when you can now ride the tricycle and jeepney using your QR code, buy meat from the market through QR code. We are strongly pushing for this,” he said.

“It is really consistent with our desire to make the country a cash-lite economy from a cash-heavy society. In fact, it may even be a coinless society in five years,” he added.

DIGITAL CURRENCY
Meanwhile, Mr. Diokno said the BSP is not likely to adopt its own central bank digital currency anytime soon, but a task force is studying the matter.

“As new technology, items and cryptocurrency are becoming more popular among central banks, we exchange notes and we want to make sure that we do this safely,” he said. “So we have created a task force within BSP to study this so we’ll make the necessary arrangements as needed. But right now, we are not into digital currency yet but we will probably be there in a few years,” he added.

The central bank chief said 6.6 million basic deposit accounts were opened in 133 banks last year, with a combined amount of P4.7 billion as the pandemic prompted a general shift toward digital platforms.

The volume of electronic fund transfer through PESONet also surged by 164% year on year to 31.6 million in the first half of the year, while InstaPay transactions more than tripled to 201 million.

The country has 87 banks and electronic money issuers that have coursed transactions through PESONet and 52 via InstaPay so far, he said. — Beatrice M. Laforga with a report from Luz Wendy T. Noble

Philippine freelancers discover new income during pandemic

GLENN CARSTENS PETERS-UNSPLASH

By Jenina P. Ibañez, Reporter

KENNETH L. AMBOS, 25, quit his video editing job at a local company a few months into the coronavirus pandemic last year.

His salary was too small to cover the devices, electricity and internet connectivity he needed to do his work from home amid lockdowns meant to contain the virus. He started doing freelance work full time.

The cash coming in is now “orders of magnitude higher,” Mr. Ambos said via Facebook Messenger video, adding that he used his connections at his old job to find projects. He used his earnings not just to pay just his bills but also to renovate his home.

When the global coronavirus pandemic sent markets into a tailspin and disrupted most aspects of daily life, freelancers were hit hard.

It forced many of them to find new ways of working. But not all workers in the creative industry can find new opportunities during the global health crisis.

There’s a dearth of data on freelancers in the Philippines. PayPal in a 2018 survey found that freelancers accounted for about 2% of the country’s population.

Gil Zaire “Butch” Carungay, a board member of Matic Hub — a so-called enabling space for Cebu’s creative community — said the number had probably grown during the pandemic.

Many creative specialists had lost their income, leading them to shift from formal creative work to either freelance digital content creation or noncreative fields, he said, citing the results of a United Nations report on the creative industry in Cebu, for which he worked as a consultant.

Crowd-sourcing platform Ilostmygig.ph said workers from the creative sector lost more than P268 million in potential income from March 27 — days after the main island of Luzon was locked down to contain the pandemic — to June 10 last year.

“Some people I know didn’t want to freelance before,” Mark Ace A. Gatdula, a 38-year-old freelance digital director and editor, said in a Messenger video call. “They have to do it now because they got laid off.”

Some big companies, he added, closed down after running out of projects.

The Creative Economy Council of the Philippines found that those that got hit hard during the pandemic were cinema-based films, performing arts and heritage sites and museums. Television and radio also suffered, along with traditional advertising.

NO WORK, NO PAY
More Filipinos could be turning to freelance work as they lose salaried jobs in the creative industry, but freelancers have a lot of vulnerabilities.

“It’s like a no-work, no-pay type of situation,” Pangasinan Rep. Christopher P. de Venecia, who heads a special House of Representatives Committee on the Creative Industry, said via the Zoom Meetings app. “So if there’s no work, there’s no possible source of income.”

“The fact that they’re not formalized into the economy means that the state experiences difficulty in extending support to them during times of national crisis,” he added.

While the state had set aside funding to help freelancers during the pandemic, the creative associations that the government tapped to identify the beneficiaries had limited reach, said Mr. De Venecia, who is a former child actor.

Freelancers also have problems carried over from before the pandemic, made worse by the health crisis, such as clients delaying payments for months.

“You don’t know when you’ll get paid,” Mr. Gatdula said. He started doing more motion graphics freelance work that became more in demand as the pandemic limited live video shoots. “I hope that there can be a law about it.”

Senate Bill 1810 or the Freelance Protection Act seeks to require clients to pay freelancers within 30 days after a task is completed. It also lists freelancers’ rights, such as safe working conditions and protection from discrimination.

Senator Emmanuel Joel J. Villanueva has said the bill was being expedited. The House version was approved on final reading in March.

“Hopefully, it will institutionalize entering into contracts between the hiring party and the freelancer,” Mr. De Venecia said. The measure also provides penalties for violations, such as late payment.

Mr. Carungay said government registration would bring more creative workers into the formal economy.

“Their needs would be better met. They’ll have access to government aid, whether in terms of capacity building or financing, or grants,” he said. “They’ll have more access to formal networks around.”

The lack of data makes pandemic-related experiences of freelancers and creatives as a whole difficult to assess. Mr. Carungay said they could not be lumped into one box.

“There are freelancers who are doing very well, freelancing on the side because they enjoy it. Others are really doing it to survive and are holding multiple jobs,” he added.

He cited the disparities among different types of creative work. The ability to have paying work during the pandemic could be attributed to the subsector, as live performers lose out and digital content creators get projects.

Some creatives benefit more from freelance work. The animation outsourcing industry reported that it was seeking more talent in the countryside as they lose employees drawn to freelance gigs as they work from home.

Mr. De Venecia said rapport between creatives and clients, including foreign companies, could lead to direct contracts with the client and bypassing the intermediary. But focus should not so much be placed on the removal of the middleman, but on moving the industry from outsourcing to the creation of original work.

Experience and connections also set one freelancer apart from the others. “I’ve been working for a while, so I know my rates. Young fresh graduates get abused. A company will ask them to make a logo for P1,000, and they don’t know any better,” Mr. Gatdula said.

Freelance work does not always translate to more money, he said. Clients are more aware that devices and programs used by independent workers have become cheaper, leading them to temper payments.

He cited the need for an association that represents the many types of creative workers in the country, and a law that protects them.

Mr. Ambos, mentioned at the outset, said he misses the rapport one develops with colleagues in an office, but he prefers doing his freelance work from home. He likes the fact that he no longer has to travel, and most of all, the flexible hours.

“You can take care of yourself,” he said. “All jobs lead to burnout, but if you’re in charge of your time, you can rest and recharge.”

Faster vaccine rollout to spur economic rebound

PHILIPPINE STAR/ MICHAEL VARCAS

THE ECONOMY could exceed the government’s downgraded growth target for this year, with a quicker vaccination rollout and improved weather in the remaining months.

In a joint report released on Monday, First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P) noted that economic data were muted in August as stricter lockdowns dampened business activity.

This had prompted the government to lower its gross domestic product (GDP) growth projections for this year to 4-5% from 6-7%. Economists from FMIC and UA&P in July said they expected GDP to grow by 5-6% this year.

“The rosy outlook supported by economic data in the past months now has paled a bit,” FMIC and UA&P said in its September Market Call report.

“We remain confident that the economy will overcome the current obstacles — especially with faster vaccination rollouts and better weather conditions.”

The Philippines aims to inoculate 50-60% of its population by yearend. As of Sept. 30, the Philippines had fully vaccinated 21.83% of its population, according to Our World in Data.

The government plans to start vaccinating the general population and minors this month, although it will continue to prioritize health workers, senior citizens, seriously ill people, essential workers and the poor.

Inflation reached 4.9% year on year in August due to higher food prices as typhoons and heavy rains disrupted supply chains, FMIC and UA&P said.

Better weather could also back stable food supply chains, they added.

“Local inflation may stay close to 5% until September, given elevated crude oil prices and some supply chain issues related to food items and low base until October. However, we still expect a deceleration starting in the latter months and going below 4% by December at the latest,” according to the report.

Exports could grow for the rest of the year, although a double-digit pace is unlikely.

The trade-in-goods deficit widened in July to $3.29 billion from $2.13 billion in the same month last year, data from the Philippine Statistics Authority showed. The country’s merchandise imports rose by 24% to $9.71 billion while exports went up by 12.7% year on year to $6.42 billion.

Government spending could also “go full throttle” as the economy needs stimulus from infrastructure spending.

“We expect spending to significantly pick up pace in the coming months with the Presidential elections in May 2022 only some months away,” according to the report.

The government kept its 7-9% growth target for 2022 as it expects a faster vaccine rollout and further easing of quarantine measures. — J.P.Ibañez

AC Energy starts commercial run of wind farm in Vietnam

RAWFILM-UNSPLASH

AYALA-LED AC Energy Corp. said on Monday that its 88-megawatt (MW) Ninh Thuan wind farm in South Central Vietnam has begun commercial operations.

This marks the listed power company’s first operating wind plant in Vietnam, bringing its renewable energy (RE) capacity of ongoing and completed projects in the foreign country to around 1,000 MW.

The wind farm is a $155-million joint venture of AC Energy and Vietnam-based private conglomerate BIM Group.

“We laud the Vietnam government’s strong commitment to RE and for creating an enabling environment for industry players such as ourselves to participate in the country’s thriving power sector,” said AC Energy President and Chief Executive Officer Eric T. Francia said in a regulatory filing.

He said the company, which he describes to be at the forefront of the energy transition, has recognized Vietnam as one of its priority markets. Vietnam is AC Energy’s second-largest market to date after the Philippines.

The wind farm features 22 units of GE Renewable Energy’s Cypress turbines, the company said. It is expected to produce 327 gigawatt hours per year once fully operational, enough to power around 50,000 homes per year with renewable energy that can help avoid 298,551 tons of carbon dioxide (CO2) annually.

“We are very excited to bring this new project into commercial operations ahead of the Feed-In Tariff deadline, notwithstanding the many challenges brought about by the COVID-19 (coronavirus disease 2019) pandemic,” said Patrice R. Clausse, chief operating officer of AC Energy International.

The wind farm project is the second time the power firm has partnered up with the BIM Group, with their first joint project being the 405-MW Ninh Thuan solar farm, one of the largest in Southeast Asia, which was inaugurated in 2019.

The 405-MW solar facility and 88-MW wind farm are expected to generate a combined 900 million-kilowatt hours of clean power every year.

AC Energy is in the process of building three other RE facilities in Vietnam. They are the 80-MW Mui Ne wind farm; the Lac Hoa & Hoa Dong wind farms with an aggregate capacity of 60 MW; and the 252-MW Quang Binh wind farm, according to the firm’s website.

AC Energy is the listed energy platform of the Ayala group. It has an attributable capacity of around 2,600 MW in Vietnam, Philippines, Indonesia, India, and Australia.

The company aspires to be the largest listed renewables platform in the region as it targets to hit 5,000 MW of RE capacity by 2025.

AC Energy shares at the local bourse improved 2.58% or 30 centavos to finish at P11.92 apiece on Monday. — Angelica Y. Yang