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RLC malls join gov’t program on power deloading 

ROBINSONS Land Corp. (RLC) has enrolled 10 of its malls in the government’s interruptible load program (ILP) to ease power demand from the electricity grid when supply is deficient.

In a media release on Tuesday, Manila Electric Co. (Meralco) said the power distributor and RLC teamed up to boost available standby supply under a deal forged on June 14.

RLC Executive Vice-President Faraday D. Go said the company “has always been a steadfast partner of the government and fully supports the ILP program to help address power and energy contingency requirements, should the need arise.”

The 10 Robinsons Malls enrolled in the program have committed a total capacity of 31 megawatts (MW) for ILP, which is a demand-side management scheme led by the Department of Energy and the Energy Regulatory Commission.

During supply deficiency and imminent power interruptions, the malls will be asked to temporarily deload from the grid and use their generator sets.

The 10 malls are Robinsons Place Malolos, Robinsons Town Mall Malabon, Robinsons Place Manila-Main, Robinsons Place Manila-Midtown, Robinsons Place Las Pinas, Robinsons Place Antipolo, Robinsons Magnolia-Extension, Robinsons General Trias, Robinsons Galleria South, and Robinsons Tagaytay Summit.

When they deload, they can potentially spare around 124,000 households and small businesses from the disruptions of unscheduled power interruptions.

RLC is the latest addition to the 121 companies within Meralco’s franchise area to join the program. The ILP-enrolled entities have a combined de-loading capacity of about 552 MW.

“We continue to enjoin our large load customers to participate in ILP so that, in the eventuality of a crisis, we have the contingencies in place to prevent brownouts. Fortunately, the projections on the dips in power supply did not affect much of our customers, as we always find ways and means to anticipate our customers’ needs,” Meralco Chief Commercial Officer Ferdinand O. Geluz said.

RLC and Meralco have encouraged other businesses to join the program to ease power demand at times when the system operator National Grid Corporation of the Philippines places the grid on red alert.

Meralco, the country’s largest electric power distributor, said that while there are no immediate threats of supply deficiency, it has put in place “contingency measures that include the ILP to ensure delivery of continuous, stable, and reliable electricity service to the customers within its franchise area all year round.”

Knowing prostate cancer

The prostate is a small walnut-shaped gland located below the bladder in males. — UNSPLASH

Prostate cancer is the fifth most common cancer in the country, with 8,242 new cases and 3,164 deaths reported in 2020. It is the third leading cause of cancer deaths among Filipino men. 

June is Prostate Cancer Awareness Month. 

The prostate is a small walnut-shaped gland located below the bladder in males. It produces the seminal fluid that nourishes and transports sperm. Early-stage prostate cancer may cause no signs or symptoms.  

According to the UK National Health Service, symptoms of prostate cancer include needing to urinate more frequently, often at night; difficulty in starting to urinate; weak flow; feeling that the bladder has not emptied fully; and blood in urine or semen. 

These symptoms, however, do not always mean prostate cancer. The NHS explained that many men’s prostates get larger as they get older due to benign prostate enlargement which is non-cancerous. 

While the cause of prostate cancer is not clear, certain factors can increase your risk of developing the disease. These include older age, with about 6 in 10 cases diagnosed in Filipino men aged 65 or older, said the Philippine Cancer Society (PCS).  

Family history or having an immediate relative who developed prostate cancer before the age of 60 also increases one’s risk. Obesity and a diet high in calcium have also been identified as risk factors. 

Knowing the right information is the most important weapon against prostate cancer, the Department of Health (DoH) stressed. Early recognition of symptoms and proper screening with prostate-specific antigen (PSA) test or digital rectal exam (DRE) can help in the early diagnosis, and increase the likelihood of successful treatment. 

The PSA test is a blood test used primarily to screen for prostate cancer. It measures the amount of PSA, a protein produced by both cancerous and noncancerous tissue in the prostate, in the blood.  

Meanwhile, DRE is a procedure in which your doctor inserts a gloved, lubricated finger into your rectum and feels the back wall of the prostate gland for enlargement, tenderness, lumps or hard spots. If prostate cancer is found as a result of PSA or DRE screening and confirmed by ultrasound and biopsy, it will probably be at an earlier, more treatable stage. 

A healthy lifestyle can lower the risk for prostate cancer. Diets rich in fruits, vegetables, and grains are preferred, coupled with exercise most days of the week to maintain a healthy weight. It is also important not to smoke and to avoid secondhand smoke. 

Remarkable advances in cancer medicines are ushering in a new era for patients. Today, thanks to research and development of new treatment options, the outlook for cancer patients is brighter than it has ever been. 

The US Centers for Disease Control and Prevention (CDC) said treatments, upon discussion with a doctor, may include expectant management where the cancer will not be treated right away but will be actively monitored.  

Prostatectomy, or the surgical removal of the prostate, is also an option. Another treatment pathway is radiation therapy which uses high energy X-rays to destroy cancer cells. 

The CDC added that therapies also under investigation are cryotherapy where a special probe is placed inside or near the prostate cancer to freeze and destroy the cancer cells.  

Chemotherapy, on the other hand, is the use of special drugs to shrink or kill the cancer cells. Another therapy under this category is called biological therapy which works with the immune system. 

The CDC also included other therapies under investigation namely high-intensity focused ultrasound which directs high-energy sound waves at the cancer cell to destroy cancer cells while hormone therapy blocks cancer cells from getting the hormones they need to grow. 

While we have come far in the fight against cancer, for many of the difficult-to-treat and very rare forms we are still in need of new and better options to deliver hope to patients and allow them to live longer, healthier lives. Our work continues. 

 

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

Mick Jagger positive for COVID-19, Amsterdam Rolling Stones concert postponed

Rolling Stones — PHOTO FROM ROLLINGSTONES.COM

AMSTERDAM —  The Rolling Stones postponed a concert on Monday in Amsterdam after lead singer Mick Jagger tested positive for coronavirus disease 2019 (COVID-19), the band said in a statement.

“The Rolling Stones are deeply sorry for tonight’s postponement, but the safety of the audience, fellow musicians and the touring crew has to take priority,” they said.

Jagger, 78, had experienced symptoms after arriving at Amsterdam’s Johan Cruijff Arena, the band said.

Representatives for Mojo Concerts, which had organized the band’s appearance in the Netherlands, came onstage to inform the audience at ArenA, a football stadium, an hour and a half before the concert was due to begin.

“He can’t sing, he can’t play,” an unnamed announcer told fans. “There is no show tonight … it is what it is.”

Amsterdam was to be the fourth stop in the Stones Sixty European tour, following an appearance in Liverpool on Thursday. — Reuters

Gilas youth squad routs Kuwait in FIBA U16 Asian Championship

THE new crop of Gilas Pilipinas youth introduced itself in flying colors, drubbing Kuwait with an emphatic 82-45 win in the International Basketball Federation (FIBA) Under 16 (U16) Asian Championship on Tuesday in Doha, Qatar.

Filipino-Canadian big man Zain Mahmood uncorked 16 points and five rebounds while co-captain Jared Bahay scattered 12 markers, eight rebounds, six assists and three steals in Gilas’ 37-point win.

Fil-American sensation Caelum Harris struggled for just two points, but Jacob Bayla and Kristian Porter stepped up with 10 each as Gilas tied Japan on top of Pool C with a 1-0 card.

Gilas was to play Japan — which clobbered Kuwait with a 98-33 win — at 8:45 p.m. (Manila time) last night, needing a big win to top Pool C and clinch an outright quarterfinals berth.

A loss by the Nationals would drag them to a qualification phase among second and third-seeded squads in order to advance.

With Mr. Bahay quarterbacking their offense, the Filipino teens raced to a 25-9 start and never looked back for a rousing return to international action amid the pandemic.

The Nationals led by as many as 38 points built on a 51% accuracy plus 48 rebounds, 23 assists and 33 points in the paint. They also had 17 steals, resulting in 28 turnover points from Kuwait’s 29 errors.

Adel Alsaied paced the winless Kuwait (0-2) with 16 points and nine boards.

The U16 Asian Championship is Gilas youth’s first tourney in three years, hoping to replicate the success laced by two World Cup appearances of the previous batch led by now NBA Draft hopeful Kai Sotto.

The tourney is a qualifier to the FIBA U17 World Cup in Spain next month. — John Bryan Ulanday

The Scores:

Philippines 82 – Mahmoud 16, Bahay 12, Bayla 10, Porter 10, Competente 9, Konov 7, Gemao 5, Nieto 4, Jones 4, Harris 2, Reyes 2, Romero 1.

Kuwait 45 – Alsaied 12, Alrashaid 10, Alresheedan 8, Asadallah 7, Malallah 6, T. Mohammad 2, Alenizi 0, B. Mohammad 0, Edhbayah 0, Alhusaini 0.

Quarterscores: 25-9, 43-24, 64-33, 82-45.

British police charge Kevin Spacey over alleged sex crimes

KEVIN SPACEY in a scene from the drama series House of Cards. — NETFLIX/IMDB.COM

LONDON — British police said on Monday they had charged Oscar-winning actor Kevin Spacey over historic allegations of sex offences, with the actor due in court on Thursday.

Prosecutors last month authorized the charges to be brought against Spacey, 62, on four counts of sexual assault against three men, and a further charge of causing a person to engage in penetrative sexual activity without consent.

Police said the alleged assaults had taken place between March 2005 and April 2013 — four in the capital London and one in Gloucestershire. They involved one man who is now in his 40s and two men now in their 30s.

“He is due to appear at Westminster Magistrates Court at 10 a.m. (0900 GMT) on Thursday, 16 June,” London’s Metropolitan Police said, confirming Spacey had been charged on the five counts authorized by the Crown Prosecution Service (CPS) following his arrest.

Spacey, who won Academy Awards for the Usual Suspects and American Beauty in the 1990s, has said he is willing to defend himself in Britain and is confident any trial will prove his innocence.

Once one of Hollywood’s biggest stars, Spacey has largely disappeared from public view since being accused of sexual misconduct five years ago.

In November 2017, London’s Old Vic theater said it had received 20 separate allegations of inappropriate conduct by Spacey from 20 men who came into contact with him at the theatre, or in connection with it, between 1995 and 2013.

He was dropped from the TV show House of Cards and removed from the movie All the Money in the World after the accusations of sexual misconduct came to light. — Reuters

LANDBANK, SSS sign agreement on streamlined disbursements for members

LAND BANK of the Philippines (LANDBANK) and the Social Security System (SSS) have signed a memorandum of agreement for streamlined disbursements to SSS members and claimants.

LANDBANK said in a statement on Monday that under the agreement, the SSS will use LANDBANK’s Bulk Credit System (LBCS) and the Link.BizPortal platform to “ensure a timely delivery of social assistance to local and overseas Filipino workers and their beneficiaries.”

“Our collaboration today is timely and relevant as we continue to leverage on technology to meet the growing demand for digital payments and financial solutions,” LANDBANK President and Chief Executive Officer Cecilia C. Borromeo said. “Our combined efforts will ensure the delivery of convenient and uninterrupted service to SSS members nationwide.”

“This partnership forms part of LANDBANK’s expanded mandate of serving the nation, which includes the promotion and adoption of digital payments for the advancement of financial inclusion in the country,” the bank said.

Through this partnership with SSS, the state-run lender will facilitate the electronic disbursements of retirement funds, benefits, and investments to qualified SSS payees through the LBCS. This will be done through PESONet, InstaPay, or the LANDBANK Crediting Facility for the crediting of SSS payouts.

The SSS will also integrate their Electronic Collection Service with LANDBANK’s Link.BizPortal payment system for real-time posting of contributions, loans and other fees.

Link.BizPortal is a digital payment platform that allows clients to pay over 870 government and private partner merchants nationwide online.

LANDBANK earlier reduced Link.BizPortal’s transaction fees for customers making payments through the platform to P7 from P15.

For the first quarter, the bank’s income reached P13.2 billion, 141% higher than the P5.48 billion a year prior. This translates to a return on equity of 14.27%.

Its first-quarter performance was attributed to higher interest income from loans and investments, as well as one-time gains from its merger with the United Coconut Planters Bank. — T.J. Tomas

Converge’s new appointee to deliver ‘pervasive Gigabit access to all’

CONVERGE ICT Solutions, Inc. announced on Tuesday the appointment of digital transformation expert Paulo Martin G. Santos — a former vice-president for enterprise communication, collaboration, and security in a bank — as its chief network transformation officer.

”I’m eager to bring my years of experience in network infrastructure management to Converge, as it aims to bring world-class connectivity to unserved and underserved Filipinos. With a robust network, we will transform our network operations to deliver pervasive Gigabit access to all Filipinos,” Mr. Santos said in an e-mailed statement.

At UnionBank of the Philippines, Mr. Santos developed partnerships with Huawei Technologies Co., Ltd. and Globe Telecom, Inc. to implement the first fifth-generation (5G)-enabled “bank on wheels,” a mobile concept branch of the bank.

He transformed the bank’s network infrastructure to a “cloud-ready software defined network,” Converge said.

Mr. Santos also founded WiFi Nation PH, a startup offering wireless connectivity solutions, the company added. It was acquired by Smart Communications, Inc.

It added that as head of digital transformation strategy at PLDT, Inc.’s strategy office, Mr. Santos was responsible for building the strategic road map for digitizing corporate operations and customer experience across the PLDT group of companies.

Converge Chief Executive Officer and Co-Founder Dennis Anthony H. Uy said: “We’re building a strong team in pursuit of our vision to become a world-class organization. We’re glad to have onboard a young, tech-savvy executive to transform our network operations.” — Arjay L. Balinbin

How PSEi member stocks performed — June 14, 2022

Here’s a quick glance at how PSEi stocks fared on Tuesday, June 14, 2022.


Peso rebounds vs dollar on positive sentiment

BW FILE PHOTO
THE PESO gained against the dollar after three straight days of closing lower. — BW FILE PHOTO

THE PESO rebounded against the dollar on Tuesday, correcting after three straight days of decline on positive market sentiment as the benchmark stock index rallied.

The local unit closed at P53.25 versus the greenback on Tuesday, gaining five centavos from its P53.30 finish on Monday, data from the Bankers Association of the Philippines showed.

The peso opened Tuesday’s session at P53.28 against the dollar. Its weakest showing was at P53.40, while its intraday best was at P53.13 versus the greenback.

Dollars exchanged rose to $1.16 billion on Tuesday from $685.2 million on Monday.

The peso’s rebound was a healthy correction after weakening for three straight trading days and was partly due to gains seen in the local stock market that defied recent declines in US markets, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The benchmark Philippine Stock Exchange index slightly went up by 7.52 points or 0.11% to close at 6,474.53 on Tuesday. Meanwhile, the broader all shares index declined by 3.88 points or 0.11% to 3,471.05.

For Wednesday, Mr. Ricafort expects the peso to range between P53.10 and P53.30 versus the greenback. — KBT

PSE index rises on last-minute bargain hunting

BW FILE PHOTO

SHARES improved on Tuesday on last-minute bargain hunting despite concerns over the policy paths of the Bangko Sentral ng Pilipinas (BSP) and US central bank due to rising inflation here and abroad.

The benchmark Philippine Stock Exchange index (PSEi) went up by 7.52 points or 0.11% to close at 6,474.53 on Tuesday, while the broader all shares index lost 3.88 points or 0.11% to 3,471.05.

“Last-minute bargain hunting sent the local market higher this Tuesday. For the most part of the day however, the bourse was in the negative territory amid the pessimistic spillovers from Wall Street caused by worries that the Federal Reserve will take aggressive measures in their policy meeting this week in light of the US’ latest inflation print,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco  said in a Viber message.

Regina Capital Development Corp. Head of Sales Luis A. Limlingan added that investors are bracing themselves for the possibility of a larger-than-expected interest rate hike from the Fed.

The US consumer price index increased by a faster-than-expected 8.6% last month, the largest year-on-year increase since December 1981, according to US Labor department data released on Friday, showing inflation has yet to peak.

This caused renewed bets of aggressive action from the Fed at its June 14-15 meeting that could dampen growth prospects for the world’s largest economy.

The US central bank kicked off its tightening cycle with a 25-basis-point (bp) increase in March followed by a 50-bp hike last month as inflation continued to reach multi-year highs.

Meanwhile, First Metro Investment Corp. Head of Research Cristina S. Ulang said the market was affected by the “dovish” messaging from the BSP about a planned reserve requirement ratio (RRR) cut by yearend, which she said assumes “inflation normalization.”

BSP Governor Benjamin E. Diokno chief on Monday signaled they would reduce banks’ RRR by October or November as part of its efforts to manage inflation and as the central bank continues to unwind the accommodations it made for lenders at the height of the pandemic in 2020.

The majority of the sectoral indices ended in the red, except for holding firms, which gained by 97.35 points or 1.64% to 6,025.78, and mining and oil, which rose by 80.94 points or 0.70% to 11,624.43.

Meanwhile, property declined by 29.32 points or 0.96% to 3,015.59; industrials fell by 78.86 points or 0.87% to 8,974.70; services went down by 13.24 points or 0.75% to 1,740.52; and financials gave up by 2.30 points or 0.14% to end at 1,559.68.

Decliners overwhelmed advancers, 118 versus 62, while 44 names ended unchanged.

Value turnover grew to P5.60 billion with 827.41 million shares changing hands from the P5.38 billion with 761.72 million issues seen on Monday.

Net foreign selling ballooned to P1.25 billion from the P624.30 million recorded on the previous trading day. — L.M.J.C. Jocson

Domestic trade in the regions: Which have (un)favorable trade balances?

TRADE in domestic goods declined by 35.6% in the first quarter to P135.812 billion, the Philippine Statistics Authority (PSA) said on Monday, with trade hindered by mobility restrictions and the disruptions imposed by the Russia-Ukraine war. Read the full story.

Domestic trade in the regions: Which have (un)favorable trade balances?

DoLE nominee Laguesma doubts feasibility of nat’l minimum wage

PHILSTAR FILE PHOTO

BIENVENIDO E. LAGUESMA, who has been nominated to head the next government’s Labor department, said on Tuesday that a national minimum wage may not be possible because many small companies are still struggling to recover from the pandemic.

Labor groups have been pushing for a national minimum wage amid complaints that the recent regional wage increases force workers to survive on what they called poverty wages.

“We have heard this before from the ranks of the laborers,” Mr. Laguesma said in Filipino during an interview with ABS-CBN TeleRadyo on Tuesday. “On the part of the business, especially the small companies, the small- and medium-sized enterprises, this is a heavy ask, especially since we are still suffering from the effects of the pandemic and other calamities that have hit the country.” 

He added that regional wage boards should focus on improving the productivity of businesses to generate more jobs.

“In recent years, the regional boards have been too focused on raising wages but have not addressed increasing productivity,” Mr. Laguesma noted. “It is important to induce or encourage countryside development.”

The World Bank’s World Development Indicators ranked the Philippine labor force’s productivity at 12th among 18 economies in East Asia and the Pacific.

Last week, the Department of Labor and Employment (DoLE) announced that the Zamboanga Peninsula regional wage board had ordered a P35 minimum wage increase for nonagricultural workers and a P20 hike for agricultural workers.

If approved by the National Wages and Productivity Commission, the minimum wage for nonagricultural workers will rise to P351 from P316.

Eastern Visayas will also see a wage increase of P50 across all industries which will be given in two tranches of P25. This will bring daily pay to P375.

DoLE has said new minimum wages will be implemented in 14 regions this month after regional boards approved wage hikes of between P30 and P110.

The new minimum wage in Metro Manila increased by P33 on June 4 to P570 for nonagricultural workers and P533 for agricultural workers.

Central Luzon will have a P40 increase to P414-460.

The new minimum wage in Calabarzon is P390-P470 for nonagricultural workers; P350-P429 for agricultural workers; and P350 for retail and service establishments with not more than 10 workers.

The Trade Union Congress of the Philippines (TUCP) said the recent pay hikes are insufficient to make up for the recent rise in fuel prices, and do nothing to bring workers out of poverty.

“Because of extraordinary inflation, the series of wage increase orders issued by the wage boards failed to restore the purchasing power of wages and (they) didn’t uplift workers’ purchasing power above the poverty threshold,” TUCP President Raymond C. Mendoza said. — John Victor D. Ordoñez

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