Top US trade negotiator discussed vaccine ramp-up with Novavax exec

April 28, 2021 | 4:16 pm

WASHINGTON — US Trade Representative Katherine Tai discussed increasing coronavirus disease 2019 (COVID-19) vaccine production in a virtual meeting on Tuesday with an executive with drugmaker Novavax, Ms. Tai’s office said in a statement.

Ms. Tai and Novavax Executive Vice-President John Trizzino also discussed a proposal before the World Trade Organization to waive certain intellectual property rights in response to the coronavirus pandemic, the USTR statement said.

“Ambassador Tai sought Mr. Trizzino’s views on steps Novavax is taking to quickly increase equitable production and distribution of vaccines in the United States and around the world,” the statement said.

Novavax’s COVID-19 vaccine is not currently authorized for use in the United States.

WTO members are due to discuss a proposal by India and South Africa to waive certain provisions of the WTO’s Agreement on Trade-Related Aspects of Intellectual Property Rights on April 30, but the United States and a few other big countries have blocked such a move.

Democratic lawmakers, civil society groups, and 60 former heads of state and 100 Nobel Prize winners have urged President Joseph R. Biden, Jr., to back the waiver.

Shares of Novavax surged 16% in extended trading on Tuesday after Biden Mr. said the United States was planning to share COVID-19 vaccines with countries in need of aid.

The company is expected to report data from its ongoing large, late-stage study in the United States and Mexico during the second quarter of this year.

Ms. Tai held virtual meetings on Monday with vaccine makers Pfizer and AstraZeneca.

Novavax Chief Executive Stanley Erck met with South Korean President Moon Jae-in on Tuesday and said he was in talks with SK bioscience, the vaccine arm of SK Chemicals, to extend production and tech transfer agreements until 2022.

SK bioscience plans to start producing the Novavax COVID-19 vaccines as soon as the approval comes and manufacture 40 million doses to supply South Korea. — Reuters

Globe President and CEO Ernest Cu joins Nasdaq-listed LivePerson Inc. board of directors

April 28, 2021 | 4:05 pm

Global leader in conversational AI

Globe President and Chief Executive Officer Ernest Cu joins the board of directors of Nasdaq-listed LivePerson, Inc., a global leader in conversational AI.

Cu’s membership in the board of LivePerson will help chart the company’s course in addressing consumers’ growing demand to use conversational commerce in engaging with brands.

US-based LivePerson is a global technology firm that develops conversational commerce and AI technology. It is the developer of the Conversational Cloud, a software platform that the world’s largest brands use to build and run AI-powered automations to make it easy for customers to make purchases and ask questions via messaging.

“I am proud to join LivePerson, one of the world’s most innovative companies. And just like in Globe where innovation is a part of our DNA, LivePerson’s vision for conversational commerce seeks to transform lives for the better through technology,” said Ernest Cu, Globe President, and CEO.

Globe supports the United Nations Sustainable Development Goals, particularly UN SDG No. 9 which believes that “inclusive and sustainable industrialization, together with innovation and infrastructure, can unleash dynamic and competitive economic forces that generate employment and income.”

To know more about Globe, visit www.globe.com.ph.

Meralco energizes new Metpark Gas-Insulated Switchgear (GIS) Substation

April 28, 2021 | 3:38 pm

Seen in the above photos is the recently commissioned METPARK 115 kiloVolt (kV) – 34.5 kV GIS substation located at Metropolitan Park in Roxas Boulevard corner EDSA Extension, Pasay City. The new substation will provide the additional capacity needed to serve the growing demand in the commercial business district of Pasay City and provide operational switching flexibility during contingencies with adjacent CBP1-A and PAGCOR GIS substations. This project is also expected to reduce system losses, and improve system reliability and voltage regulation to the predominantly large commercial customers in the area. Despite the heightened community quarantine measures imposed within the NCR+ bubble due to the recent surge in COVID-19 cases, Meralco personnel and its subsidiaries are continuously working round the clock to execute vital capital projects to provide safe, adequate, and reliable energy service for all its customers.

Developing Asia to recover strongly, but COVID-19 risks remain — ADB

April 28, 2021 | 3:35 pm

MANILA — Developing Asia’s economic rebound this year could be stronger than previously thought, the Asian Development Bank said on Wednesday, underpinned by expectations of a solid global recovery and progress on vaccines.

But the Manila-based lender was quick to caution that risks to its forecasts were skewed more to the downside because new outbreaks and delays in vaccine rollout could prolong disruptions to mobility and stall regional economic activity.

Developing Asia, which groups 45 countries in the Asia-Pacific, is forecast to grow 7.3% in 2021, the ADB said in its Asian Development Outlook report, stronger than its previous estimate of 6.8% and follows a 0.2% contraction last year.

For 2022, the region is projected to grow 5.3%.

“Growth is gaining momentum across developing Asia, but renewed COVID-19 outbreaks show the pandemic is still a threat,” said Yasuyuki Sawada, ADB chief economist, said in the report.

Geopolitical tensions, political turmoil, production bottlenecks, financial turmoil, and long-term scarring effects of learning losses from school closures due to the pandemic also threaten recovery, Mr. Sawada said in a separate briefing.

Asia accounts for more than 16% of the global case load of 147.9 million coronavirus infections, according to a Reuters tally. With more than 319,000 deaths, the region accounts for 9.8% of the global COVID-19 toll.

As some economies continue to struggle to contain the virus and its new variants, the ADB said the recovery would be uneven.

China’s economic rebound from a pandemic-induced slump is forecast to be the strongest this year, with growth seen at 8.1%, driven by strong domestic demand and exports, before moderating to 5.5% in 2022, the ADB said.

By region, South Asia will record the fastest economic recovery this year, with the ADB predicting an expansion of 9.5% after a 6.0% contraction in 2020, buoyed by India’s economic revival.

Even as the coronavirus crisis in India remained grim, Mr. Sawada said ADB’s 11.0% growth forecast for the South Asian country this year, which follows an 8.0% slump in 2020, is “achievable at this stage.”

“India’s vaccine rollout is going well,” Mr. Sawada said, putting it on course to vaccinate 300 million by August and achieve herd immunity by 2022.

India leads the world in the daily average number of new infections reported, accounting for one in every three infections reported worldwide each day, according to a Reuters tally.

Southeast Asia’s 2021 growth forecast was trimmed to 4.4% from a previous estimate of 5.5%, dragged down by a projected 9.8% decline in Myanmar’s economic output, which was hit hard by mass protests, strikes and sanctions following a military coup on Feb. 1.

Easing food price pressures should slow inflation to 2.3% this year, from 2.8% last year, but it is predicted to quicken to 2.7% in 2022. — Karen Lema/Reuters

PNB heads list of LinkedIn’s top PHL employers

April 28, 2021 | 2:36 pm

Philippine National Bank (PNB) placed first in LinkedIn’s inaugural list of Top Companies in the Philippines, a ranking of the 15 best workplaces to grow one’s career as determined by the professional networking platform.

PNB, owned by Lucio Tan’s LT Group, Inc., remained profitable in 2020. In October, the financial institution was awarded The Asian Banker’s best managed bank; its President and Chief Executive Officer Jose Arnulfo “Wick” A. Veloso was recognized as best CEO for “demonstrating excellence” during the coronavirus disease 2019 (COVID-19) pandemic.

The companies in the list provide products and services deemed essential during the pandemic — financial services, food and beverage, and telecommunications.

The complete list, released on April, 28, is as follows:

Philippine National Bank
Smart Communications, Inc.
Manila Water Co., Inc.
Philip Morris International
Ernst & Young Global Limited (EY)
Land Bank of the Philippines
Manufacturers Life Insurance Co. (Phils)., Inc. (Manulife Philippines)
Metropolitan Bank & Trust Co. (Metrobank)
Accenture Plc
Nestlé S.A.
Coca-Cola Beverages Philippines, Inc. (CCBPI)
Macquarie Group Limited
NCR Corporation
BDO Unibank, Inc.
IQVIA

LinkedIn’s methodology used the network’s data to uncover the companies that invest in employee success, career development, and equity and inclusion. Its methodology considered seven pillars to career progression: ability to advance, skills growth, company stability, external opportunity, company affinity, gender diversity, and educational background.

“The world of work is transforming,” said Chris C. Anderson, LinkedIn’s senior news editor for Asia Pacific, in a post announcing the list. “Not only have we worked through a once-in-a-generation global pandemic, but decades of automation, the rise of artificial intelligence, and a new shift to remote work have all reshaped what our professional lives look like — and what we’re expecting from our employers.”

KEY TRENDS
LinkedIn’s report noted the following key trends:

Skills prioritization — Many of these companies have made commitments and launched programs to develop employees’ skills to meet current and future job requirements. Manulife Philippines, for instance, launched its Pursuit Learning Hub as a one-stop-shop for learning resources for its employees.
Strong sectors — In the Philippines, companies in the financial services, telecommunications, and food and beverage industries dominate the list. Gareth McGeown, chief executive officer and president of CCBPI, shared in a press statement that the pandemic helped the company do things not previously deemed possible, including transitioning to a virtual workforce, rolling out full-scale remote learning, and accelerating agility and speed in e-commerce.
Workforce support — Employers in the essentials services sectors continue to be the workplaces of choice for professionals in the country. Overall, these companies are ahead of the game in supporting their talent pool, with programs such as flexible work arrangements and employee well-being. As Janine T. Carreon, Manila Water’s corporate human resources group director said in a press statement: “Consistent with our corporate value of “malasakit” (compassion), these programs are the best expressions of our care for our employees who drive our business forward. Without our people’s commitment, we cannot deliver our service to our customers and create value for our stakeholders.”

Many of the companies on the 2021 LinkedIn list are hiring, with more than 70,000 open roles in the Philippines.

Similar lists were also created for Malaysia, Singapore, Japan, and Australia. — Patricia B. Mirasol

Biden’s first 100 days: COVID-19, jobs, foreign policy, immigration, guns, and dogs

April 28, 2021 | 1:34 pm

Joseph-R-Biden-Jr-US — OFFICIAL WHITE HOUSE PHOTO BY ADAM SCHULTZ/FLICKR

WASHINGTON — US President Joseph R. Biden, Jr., completes 100 days in office on Friday, April 30.

Judging a president’s performance after 100 days in office is an American political tradition that historians say began with Franklin Roosevelt’s first term in 1933, when he embarked on a rapid-fire rollout of measures to counter the Great Depression.

Here are some of the key policy issues of Mr. Biden’s first 100 days and how he has fared so far:

COVID-19 RESPONSE

Mr. Biden’s major coronavirus disease 2019 (COVID-19) promise was 100 million shots in Americans’ arms by his first 100 days in office. Some 290 million shots have been distributed, more than 230 million administered, and about 96 million Americans are fully vaccinated, 29% of the population.

Mr. Biden’s vaccination campaign built on efforts started under President Donald J. Trump to manufacture and distribute the shots, but he added mass vaccination sites and ramped up government agencies to aid the distribution effort.

The United States has now vaccinated more people than any other country, although the pandemic has killed 572,000 people, more than any other country as well.

Over 3,000 people were dying per day when Mr. Biden took office. Now that figure is under 700 a day.

Mr. Biden’s next 100 days will force him to face vaccine hesitancy among millions of Americans and an uptick in variants of the virus.

JOBS AND THE ECONOMY

Mr. Biden, a Democrat, devoted much of his first several weeks in office to passing a $1.9 trillion stimulus bill to limit the pandemic’s economic fallout.

The American Rescue Plan, passed over Republican opposition, delivered on the key economic promise Mr. Biden made on the campaign trail: checks for Americans.

Helped by the stimulus plan for families and businesses and also by the steady rollout of vaccines, economic growth is expected to top 7% this year, the fastest since 1984. It would follow a 3.5% contraction last year, the worst performance in 74 years.

Nearly 1 million jobs were added in March, up from 379,000 in February. The improvement is expected to continue as normal commerce resumes and people become comfortable again with dining out at restaurants and other in-person services.

But the gap in employment levels compared with the months before the pandemic remains massive and concentrated in industries like leisure and hospitality that are important sources of jobs for the less skilled.

US payroll employment is about 8.5 million jobs short of where it was in February 2020. A million or more jobs would be needed beyond that to account for the usual month-to-month growth in the labor force and employment.

FOREIGN POLICY

Mr. Biden has proved to be unexpectedly tough on foreign policy regarding America’s chief challengers. He has imposed sanctions on Russia in response to Moscow’s interference in the 2020 elections and a massive cyber hack attributed to Russia, and referred to Russian President Vladimir Putin as a “killer.”

Mr. Biden has held on to Trump-era sanctions on Iran and refused to lift them as a condition for getting Tehran involved in direct negotiations over its nuclear program.

He has maintained Mr. Trump’s trade tariffs on China, allowed US diplomats to visit Taiwan, and ratcheted up pressure on China over its treatment of Uyghurs in its Xinjiang province and its crackdown on democracy activists in Hong Kong.

Those policy positions have shown that the threat posed by Beijing is now seen largely as a bipartisan issue in the United States.

Mr. Biden has, however, ended Mr. Trump’s cozy US relations with Saudi Arabia and distanced himself from Riyadh’s leader-in-waiting, Crown Prince Mohammed bin Salman.

Mr. Biden also set aside concerns about infuriating NATO (North Atlantic Treaty Organization) ally Turkey when he formally recognized that the 1915 massacre of Armenians in the Ottoman Empire constituted genocide.

IMMIGRATION

Mr. Biden moved swiftly to reverse some of Trump’s hard-line immigration policies, but he has struggled to deal with a sharp rise in the arrival of migrants at the US–Mexico border, including tens of thousands of families and unaccompanied children.

Mr. Biden halted most construction of Mr. Trump’s border wall and reversed his Republican predecessor’s travel ban on 13 mostly Muslim-majority and African countries by executive order soon after taking office.

In recent months, unaccompanied children have been backed up in crowded border stations, even as the Biden administration has raced to open thousands of emergency shelter beds.

Mr. Biden left in place a Trump-era COVID policy that blocks access to asylum for many arriving at the border, saying it is needed for health reasons. Advocates for immigrants worry that legitimate asylum seekers are being turned away.

Mr. Biden also pledged to increase the number of refugees allowed into the United States, but then backtracked and stuck with Mr. Trump’s historically low ceiling for this year.

GUNS AND POLICING

US mass shootings, which slowed during the coronavirus lockdowns, surged again in 2021, to 163 such events this year, as of April 26, compared with 94 over the same period in the prior year, according to the Gun Violence Archive.

The rise shows how little immediate power Biden has as president to change Americans’ easy access to firearms, though he held campaign events with victims of gun violence promising action.

Mr. Biden has called for broad legal changes, including banning military-style assault weapons and large-capacity ammunition magazines, but such measures would need to pass Congress.

He is pushing the Justice Department to crack down on self-assembled “ghost” guns, and proposed a budget that adds hundreds of millions of dollars for measures like starting voluntary gun buyback programs.

He did not deliver on a promise to commission reports on the Justice Department’s gun oversight reforms or on failures within the background check program.

Mr. Biden also stepped back from a campaign pledge to launch an oversight commission to deal with excessive police violence and improve police training, and will use the Justice Department’s powers to investigate local police departments for systematic civil rights violations.

CLIMATE CHANGE

Mr. Biden moved quickly to have the United States rejoin the 2015 Paris Agreement to tackle climate change and enlisted an “all of government” approach to deliver on a campaign promise to decarbonize the American economy by 2050.

Responding to increasingly dire warnings about the threat of climate change and pressure from a new generation of activists, his administration’s actions go beyond those of President Barack Obama’s in ambition.

Last week, he unveiled a goal to cut emissions in half from 2005 levels, nearly doubling a target laid out by his former boss.

To help achieve that target, Mr. Biden has laid out a $2 trillion infrastructure plan that includes billions in investments in electric vehicles and clean energy that he says will create millions of good-paying jobs. His administration has paused new oil and gas leasing on federal lands and waters in what is widely seen as a first step toward a permanent ban.

DIVERSITY

Mr. Biden’s Cabinet nominees were more diverse in terms of race and gender than any predecessor, at 46% women and 50% nonwhite. So far, 21 of 23 Cabinet-level nominees requiring US Senate approval have been confirmed.

Mr. Biden has appointed double the number of women than his predecessors, on average, as well as Pete Buttigieg as the first openly gay Cabinet secretary, Lloyd Austin as the first Black defense secretary, Deb Haaland as the first Native American interior secretary, and Alejandro Majorkas as the first immigrant to head the Department of Homeland Security.

UNITY

After Mr. Trump’s confrontational style, more Americans have embraced Mr. Biden’s more earnest, conventional style in his first 100 days in office.

Polls show that more than half of Americans approve of the job he is doing so far, including some Republican voters.

“He talks in such an empathetic and low-key way it’s impossible to object to it,” said presidential historian Doug Brinkley. “He’s been very calming and reassuring at a time of great strife.”

Mr. Biden’s habit of drawing on personal tragedy to explain policy and his lack of appetite for political jousting has stymied Republican efforts to undercut him.

“Biden is a very likeable president who’s cut out all of the drama,” said Republican strategist Scott Reed. “His command focus on the coronavirus is working.”

CATS AND DOGS

The Bidens brought their two German Shepherd dogs to the White House and promised to introduce a cat as well.

Major, the younger dog, was to get training outside the White House after two biting incidents at his new home, a spokesman for first lady Jill Biden said this month.

So far, there is no cat. — Reuters

HK legislature to discuss new immigration bill amid ‘exit ban’ fears

April 28, 2021 | 12:30 pm

HONG KONG — Hong Kong’s legislature is set to discuss a controversial immigration bill, which lawyers, diplomats, and right groups fear will give authorities unlimited powers to prevent residents and others from entering or leaving the Chinese-ruled city.

The government has dismissed those fears as “complete nonsense,” saying the bill merely aims to screen illegal immigrants at source amid a backlog of asylum applications and does not affect constitutional rights of free movement.

Its assurances, however, come in a climate of distrust after an increasingly authoritarian path officials have adopted following Beijing’s imposition of a sweeping national security law last year.

The bill comes for a second reading in the Legislative Council, or LegCo, and may be passed later on Wednesday. The government faces no opposition following mass resignations last year in protest to the expulsion of some democratic lawmakers.

“What is concerning is that in hastily pushing this bill forward, the government has chosen to ignore civil society groups that have flagged legitimate concerns,” said Michael Vidler, a lawyer with Vidler & Co Solicitors.

Lawyers say the bill empowers authorities to bar anyone, without a court order, from entering or leaving Hong Kong — essentially opening the door for mainland China-style exit bans — and fails to prevent indefinite detention for refugees.

The Hong Kong Bar Association (HKBA) said in February the bill offered no explanation of why such powers were necessary, how they would be used and provided no limit on the duration of any travel ban, nor any safeguards against abuse.

The Security Bureau said the law would be applied only to inbound flights and target illegal immigrants, expressing disappointment at the “unnecessary misunderstanding” caused by HKBA.

It said freedom to travel was guaranteed by the city’s mini-constitution, the Basic Law, so rights won’t be affected.

Still, lawyers, diplomats, trade unions and business bodies are puzzled by the government’s reluctance to add limitations to the bill that it has stated publicly.

A group of US senators last year estimated at least two dozen US citizens had been prevented from leaving China in recent years and face regular surveillance and harassment by authorities. China denies foreign nationals are under threat of arbitrary detention or exit bans.

REFUGEE RIGHTS

Activists also say the bill raises concerns about refugees’ rights and well-being.

The bill will allow immigration officers to carry guns and, in some cases, requires asylum seekers to communicate in a language other than their mother tongue.

The government says there are currently 13,000 refugee claimants in Hong Kong and that it wants to tackle the backlog.

The screening process can take years and the claimants’ success rate is 1%. During that period, it is illegal for asylum seekers to work or volunteer, and they live in limbo, on food vouchers.

Currently, asylum seekers can be detained only if they break the law or for deportation, for a period “that is reasonable in all circumstances.”

The bill removes the phrase “in all circumstances,” which rights groups say allows refugees considered a security risk to be detained indefinitely. The law does not state what constitutes such a risk.

David, 25, was granted asylum after arriving from an east African country four years ago. He said he was detained for 92 days while being processed and the new bill should aim to make life easier for refugees, not harder.

“It’s pretty terrifying, being there without knowing … how long you’re going to be there for,” said David, who asked Reuters not to use his full name due to the sensitivity of the matter. — Pak Yiu/Reuters

Villar Rallying Private Sector, LGUs to Improve Waste Management via Composting

April 28, 2021 | 12:05 pm

Sixty-Seven Las Piñas composting facilities, forty-one in Camella Communities; BSWM and DENR adopts composting for biodegradable wastes

Senator Cynthia Villar has been championing campaigns that will protect the environment at the same time provide other benefits to people, communities, and even industry sectors. Among which is waste management, which really affects everyone, from households, businesses and the entire communities. It has been her advocacy for decades.

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Composting is one of the most effective ways of maintaining healthy soils as it brings back nutrients to the soil. It is recommended by no less than the United Nations’ Food and Agriculture Organization (UN-FAO). FAO warned about some agricultural practices such as the use of chemical-laden fertilizer and pesticides that damage and deplete soil’s organic matter that leads to loss of soil fertility and crop damage too. In the Philippines, 38 percent of soil are degraded.

As chairperson of the Senate Committee on Agriculture and Food, Senator Villar is aware that healthy soils are crucial in an agricultural country such as the Philippines, where soil degradation is at 38 percent. According to FAO, the world population is estimated to reach 9 to 10.5 billion by 2050, the health of the soil cannot be ignored if we want to be able to provide food and sustain our soil resources.

Unsustainable agriculture practices such as the use of chemical fertilizer and pesticides contribute to soil degradation as it damages and depletesthe soil’s organic matter. Soil erosion is one of the major causes of soil degradation and biodiversity loss. It removes the very fertile topsoil and exposes the remaining soil layer.

SIXTY-SEVEN COMPOSTERS IN LAS PIÑAS CITY

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The senator as early as 2002, when she was still a congresswoman, established an organic fertilizer facility that uses two methods of composting—rotary composting and vermicomposting. Composting centers are also set up in barangays where the collected kitchen and garden wastes from households are brought. It now has 67 composters in almost all barangays of the city, which are utilized by 70,000 households in Las Piñas.

“Composting is a waste management method that anyone can do. It also solves many problems all at once—pollution from garbage, soil degradation, savings from garbage collection expenses, food wastes among others. So, it is a very worthy household, community or city project,” said Villar.

One composting machine can produce 1,000 kilos or 67 tons of compost per month and provide livelihood to 240 families. Composting can divert up to 150 kilograms of food waste per household per year from local collection authorities.

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There are about 250 private villages and subdivisions in Las Pinas divided into 20 barangays (villages). To encourage their participation, Senator Villar donated the rotary composters and the building to house the composter if the homeowner’s association or barangay would counterpart a suitable lot of around 36 square meters for it. Las Pinas has the lowest expense in waste management among the cities in Metro Manila by managing its own garbage. It enables the city to save more than 300 million pesos annually from recycling 75% of their wastes and it was able to use the savings on social services, health centers, schools and other developmental programs for the people.

FORTY-ONE COMPOSTERS AT VISTALAND COMMUNITIES ALL OVER THE PHILIPPINES

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To involve the private sector, even Villar-led companies’ have incorporated composting in their corporate social responsibility (CSR) in support of the advocacy. Vista Land and Camella Homes communities in various parts of the country also have waste management facilities. The wastes are also processed into organic fertilizer. As of December 2020, the 32 Vista Land locations are in National Capital Region, Regions 3, 4-A, and 5 (for Luzon); Regions 6 and 7 (for Visayas); Regions 10, 11, 12; and CARAGA (for Mindanao) produce organic fertilizers from kitchen and garden wastes collected from the residents.

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Some of the composting facilities are located in Lakefront, Camella Provence in Bulacan, Georgia Academy-San Jose Del Monte, Bulacan, Camella Nueva Ecija, Camella Tarlac, Camella Bataan, CamellaEmpressa San Fernando in Pampanga, Tierra Nevada in Cavite, PlantacionMeredienne in Batangas, Camella Naga, Savannah Iloilo, Camella Bacolod, Azienda Village Cebu, Gran Europa, Solariega Davao, Camella General Santos and Camella Butuan among other locations nationwide.More of such facilities are being built in nine more locations in Camella Homes in Davao, Pagadian, Palo (Leyte), Bohol, Santiago (Isabela), Laoag (Ilocos Norte), Sto. Tomas (Batangas) Sta. Rosa, Laguna and in Taguig.(NCR)

The senator’s office distributes organic fertilizers from Villar SIPAG’s waste composting facility to rice-producing towns in the Philippines. It is a big help to rice farmers as they do not have to buy fertilizer. It also distribute to towns and cities practicing vegetable gardening and farming.

COMPOSTERS FROM BUREAU OF SOILS AND WATER MANAGEMENT (BSWM) ANDDEPARTMENT OF ENVIRONMENT AND NATURAL RESOURCES (DENR)

On top of her own projects, the current chairperson of the Senate Committee on Environment and Natural Resources is partnering with the government to promote waste management, particularly composting. Together with the Department of Environment and Natural Resources (DENR), Villar also facilitated in the Senate the funding for the procurement of 178 biodegradable waste shredders and composters that distributed toLGUs, particularly those involved in the clean-up and rehabilitation of Manila Bay. It can produce 1,000 kilos of organic fertilizer in a month.

The Manila Bay watershed covers 16 cities and one municipality in Metro Manila and 8 provinces–Bulacan, Pampanga, Bataan, Nueva Ecija and Tarlac in Region 3, and the provinces of Cavite, Rizal and Laguna in Region 4-A. Besides being part of the Manila Bay clean-up strategy, Villar said, the composting facilities will help LGUs to comply with the provisions of RA 9003 or the Ecological Solid Wastes Management Act, which mandates the segregation, composting, and recycling of wastes.

The Bureau of Soils and Water Management (BSWM) is the agency in charge of the country’s soil resources, as such it is promoting composting of biodegradable wastes. However, its efforts are not that comprehensive and extensive yet. It was only until Senator Villar recommended to BSWM to involve the Local Government Units or LGUs in composting efforts that composting gained ground so to speak.

It was also Senator Villar who introduced the Composting Facility for Biodegradable Wastes (CFBW) concept to the BWSM which adopted it as a project. From 2015 until 2019, BSWM has distributed 816 CFBWs nationwide (413 in Luzon, 174 in Visayas and 229 in Mindanao).The CFBW distributed to various LGUs is composed of one (1) unit rotary composter, one (1) unit shredding machine.

The CFBW units strengthened the institutional capacities of LGUs in terms of sorting, collecting and composting their community wastes and to lessen the dependence of the farmers to commercial fertilizers. A CFBW unit can process one to two tons of biodegradable wastes and can produce 1,000 kilos of organic fertilizer in a month.

The CFBW project of BWSM also promotes and in line with two very important laws—Republic Act No. 9003 or the Philippine Ecological Solid Waste Management Act and Republic Act 10068 or the Organic Agriculture Act authored and recently passed by Villar. The senator is also set to amend R.A. 9003 to strengthen management of plastic wastes in the country.

Based on data from the National Solid Waste Management Commission, an estimated 4,0087.46 tons of waste are generated nationwide per day, more than 50 percent of which are biodegradable. Thus, there is aneed to process wastes and to set up facilities near public markets and in residential areas that will convert those wastes into organic fertilizers or composts.According to FAO, composting can divert up to 150 kgs of food waste per household per year.

“It’s a win-win for everybody. By processing wastes, the LGUs can save funds that will otherwise be used in paying for garbage collection, disposal and trucking services. It helps farmers save on fertilizer expense and increase their crop production. It keeps the soil healthy, so it is environment-friendly,”said Villar.On top of that, it will bring LGUs and the country closer in becoming zero-waste as part of the sustainable development goals (SDGs).v###

Expanding digital payments across the country

April 28, 2021 | 9:30 am

up2 — As a leading enabler of payments, UnionPay has expanded the acceptance of contactless transactions across the Philippines through its partner point-of-sale acquirers such as BDO Unibank Inc., Metropolitan Bank and Trust Co., Global Payments Asia Pacific (Philippines) Inc., Philippine National Bank, and Rizal Commercial Banking Corp.

UnionPay continues to expand cashless payments through partnerships with merchants, businesses

While there have been initiatives in implementing digital payments in the country before the pandemic, the past months have witnessed further appreciation and rapid acceleration of contactless and cashless payments.

In an effort to prevent the spread of COVID-19, online e-payment channels and online banking applications were increasingly used by consumers — from sending money to paying for goods and services. In turn, businesses ramped up the availability of their online channels for payments.

Proving this trend, a report by Statista and Rakuten Insights last June revealed that 31% of Filipino consumers stated they made purchases at least several times a month online during the COVID-19 pandemic.

UnionPay Philippines also observed the trend on their end, as Huiming Cai, General Manager of UnionPay International South East Asia, shared.

For instance, a campaign of one of its partner banks, BDO — which offered BDO UnionPay Gold and Diamond Credit Cardholders a 10% rebate on all online transactions — witnessed more than double year-on-year increase in online transaction volume last year. At the same period, UnionPay witnessed an over tenfold increase in PayPal transactions.

Recognizing that this shift to digital payments will continue in the “new normal”, UnionPay continues to establish itself as a reliable partner of businesses and institutions in enabling reliable contactless payments.

“Even before this pandemic, UnionPay has always been pushing for cashless transactions in the Philippines, in particular contactless payment such as online and card contactless payment for the locals. We have worked with both banks and non-banks to enable these services,” Mr. Cai said in an e-mail.

As a leading enabler of payments, UnionPay has expanded the acceptance of contactless transactions across the Philippines through its partner point-of-sale (POS) acquirers such as BDO Unibank Inc., Metropolitan Bank, and Trust Co., Global Payments Asia Pacific (Philippines) Inc., Philippine National Bank (PNB), and Rizal Commercial Banking Corp. (RCBC).

“At present, around 70% of POS terminals accepting UnionPay transactions are now contactless-enabled,” Mr. Cai added.

UnionPay has also partnered with several merchants with extensive nationwide coverage. Two leading retail establishments in the Philippines, The SM Store, and Robinsons Department Stores, have started to accept contactless payments for UnionPay cards. Prominent drugstores such as Mercury Drug and Watsons also accept this means of payment.

With EMVCo-based chip technology enabling UnionPay’s contactless payments, UnionPay Cardholders can be assured that their transactions using their card is safe and secure.

“These innovations in payment reduce the need for physical transactions like handling bank notes and face-to-face contact, which makes transacting these days even safer,” he said.

UnionPay is also expanding the acceptance of online payments as it collaborates with 2C2P Philippines which is an e-commerce payment enabler that offers innovative payment solutions tailored for the needs of merchants.

UnionPay has also partnered with several merchants with extensive nationwide coverage. Two leading retail establishments in the Philippines, The SM Store and Robinsons Department Stores, have started to accept contactless payments for UnionPay cards. Prominent drugstores such as Mercury Drug and Watsons also accept this means of payment.

Aside from enabling the online acceptance of UnionPay cards in the Philippine market, 2C2P has recently partnered with Philippine Airlines for its mobile app. Through this app, Cardholders can search and book their flights as well as purchase their tickers using their UnionPay cards anywhere customers are.

Also, through its collaboration with 2C2P, UnionPay has enabled top apparel retailer Zara Philippines, further expanding Cardholders’ options whenever they shop online.

Another viable means of digital payments is through Quick Response (QR) Codes, and UnionPay also maximizes this means through partnerships with Asia United Bank (AUB) back in 2018 and, more recently, Fucent Gateway Corporation (FGC).

Through its partnership with FGC, UnionPay will have presence in key locations in the Philippines, including the Ninoy Aquino International Airport and the Mactan-Cebu International Airport. The partnership also intends to expand QR Code acceptance at recreational spots, top hotels, and retail restaurant chains in tourist destinations.

“To date, UnionPay QR Code payments are accepted at over 10,400 major retail, attractions, hotels, and F&B merchants and more, becoming one of the leading international payment networks when it comes to QR Code deployment in the Philippines,” he said.

Through these partnerships, UnionPay has significantly enabled digital payments in the country, especially at a time when the push for cashless payments accelerated.

One partnership Mr. Cai recalls is with Cebuana Lhuillier Rural Bank, which issued its UnionPay-powered debit card that is intended to help unbanked and underserved consumers gain financial mobility.

“By enabling card application through any of Cebuana Lhuillier’s more than 2,500 branches located nationwide, Filipinos can easily open a bank account and apply for the card, at Cebuana Lhuillier branches, or online via the eCebuana app available on iOS and the Google Play Store,” Mr. Cai explained.

Transforming a largely cash-based economy into a cash-light one is a massive effort to undertake, and the current situation has just made this objective nearer to achieve.

There are challenges to tackle, nonetheless, among them building the confidence of merchants and consumers in cashless payments; and this is an area where UnionPay is willing to help address.

“UnionPay, with its deep and vast experience in building local payment switches and enabling cashless payments in 180 countries and regions, can play a role in addressing these gaps by providing the necessary tools and infrastructure to consumers and merchants,” he added.

He also sees an opportunity in the virtual card space as increased smartphone ownership is seen. Figures from Statista projects that from around 57.6% of the Philippine population in 2019, about 77.1% would be using a smartphone by 2025.

The digital payments enabler also remains open to collaborations for more merchants and businesses, helping them to gear up for a cashless society.

“UnionPay takes a win-win approach towards collaboration, working with over 2,400 partners worldwide to provide safe, seamless, and innovative payment services in 180 countries and regions,” Mr. Cai said.

GMA Network, Inc. announces schedule of annual stockholders’ meeting

April 28, 2021 | 9:00 am

The annual meeting of stockholders of GMA Network, Inc. will be conducted virtually via Zoom application on Wednesday, May 19, 2021, at 10:00 a.m.

Megawide Construction Corporation sets stockholders’ meeting via remote communication

April 28, 2021 | 7:00 am

MEGAWIDE CONSTRUCTION CORPORATION
No. 20 N. Domingo Street, Barangay Valencia, Quezon City
Tel. No. (02) 8655-1111

NOTICE OF SPECIAL STOCKHOLDERS’ MEETING

To the Stockholders of MEGAWIDE CONSTRUCTION CORPORATION (the “Company”):

Notice is hereby given that the Special Stockholders’ Meeting of the Company will be held on 21 May 2021, at 1:00 P.M. The meeting will be conducted via remote communication and can be accessed through the following link: Please click here

The agenda of the meeting is as follows:

1. Call to Order

The Chairman will call the meeting to order.

2. Proof of Notice and Quorum

The Corporate Secretary will certify that notices of the meeting have been duly sent to stockholders of record date as required by the By-Laws. He will also attest to the attendance at the meeting and whether a quorum is present. Except as otherwise provided by law, a quorum shall consist of stockholders owning majority of the outstanding capital stock, (exclusive of treasury stock), in person or represented by proxy.

3. Amendment of the Articles of Incorporation to Increase Authorized Capital Stock (“ACS”) for Preferred Shares.

The increase in the Company’s ACS for preferred shares will be submitted for the approval of the stockholders.

4. Other Matters

The floor will be open for questions from the stockholders.

All stockholders of record at the close of business on 12 March 2021 are entitled to notice of and vote at the annual meeting and at any adjournment thereof. The stock and transfer books of the Company was closed from the end of business day on 15 March 2021.

Please refer to Exhibit “1” of the Definitive Information Sheet (available at the PSE EDGE website) or visit

https://megawide.com.ph/megawide-special-stockholders-meeting-2021/

for the full details on the submission of proxies, procedure for voting, participation in the Special Stockholders’ Meeting of the Company, and to view the Company’s SEC Form 17-A.

Quezon City, Philippines, 28 April 2021.

March deficit spending balloons

April 28, 2021 | 12:34 am

Residents wait to get their financial aid from the government at a covered court in Barangay Commonwealth, Quezon City, April 9. — PHILIPPINE STAR/ MICHAEL VARCAS

THE National Government’s budget deficit widened to P191.4 billion in March, as spending grew by double digits and revenues slipped amid a stricter lockdown, the Bureau of the Treasury (BTr) reported on Tuesday.

Preliminary data from the BTr showed the first-quarter budget gap stood at P321.5 billion, almost four times the P86.2 billion posted during the same period a year ago.

Finance Secretary Carlos G. Dominguez III said the deficit would likely remain elevated this year, as the prolonged pandemic means the government still spending to drive growth.

In an interview with CNBC, Mr. Dominguez said the goal is to bring down the deficit cap to 3.5-4% of gross domestic product (GDP) starting 2022.

Preliminary data from the BTr showed the budget deficit in March was almost triple the P71.6-billion deficit a year ago. Month on month, this was 65% higher than the P115.97-billion deficit in February.

This was attributed to increased expenditures, which rose by 22% to P407.4 billion last month from P333.2 billion spent in March 2020.

Primary spending or overall expenditures less interest payments jumped by 24% to P360 billion in March, due to higher disbursements for infrastructure projects of the Department of Public Works and Highways (DPWH) and social welfare programs of the Department of Social Welfare and Development (DSWD) and Department of Labor and Employment (DoLE).

“The continuing implementation of the Bayanihan II for initiatives such as the Rice Resiliency Program of the DA (Department of Agriculture) and health programs of the DoH (Department of Health) also contributed significantly to the strong spending performance in March,” the BTr added.

Interest payments increased by 11% to P47.7 billion in March, bringing the three-month total to P125.9 billion, up by 5% from a year earlier.

For the first quarter, total expenditures increased by 20% to P1 trillion, from P849.2 billion a year ago.

Meanwhile, overall revenues declined by 17% to P216.2 billion in March from its year-ago level of P261.6 billion, which had included dividend remittances from state-owned corporations as mandated by Republic Act No. 11469 or the Bayanihan to Heal As One Act.

Tax collections accounted for 88% of total revenues.

The government’s tax haul went up by 7% to P190.1 billion in March, largely driven by the 22.57% growth in Customs collections to P54.7 billion. The Bureau of Internal Revenue’s (BIR) collections inched up by 1.28% to P133.4 billion.

Nontax revenues dropped by 69% to P26.1 billion last month, mainly due to a 79% decline at BTr to P16.1 billion due to a high base last year. The BTr’s P77-billion income in March 2020 was buoyed by the early dividend remittances of state-owned firms.

Income from other sources such as fees, charges and proceeds from privatization efforts went up by 40% to P10 billion.

For the January to March period, total revenues were 8.7% lower year on year to P696.5 billion.

In a note on Tuesday, Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said he expects the budget gap to widen further in the next few months as tax collections slide due to the extended lockdown and as the government increases spending to fuel recovery.

A wider deficit meant the government must increase borrowings as well and accommodate a higher debt-to-GDP ratio, he said. However, Mr. Ricafort warned that exceeding the international threshold of 60% debt-to-GDP ratio would make fiscal management “less sustainable” in the long term and could be viewed as credit-negative by debt watchers.

“Structurally, faster economic recovery that effectively increases the GDP base would help address this in the coming months/years, alongside fiscal reform measures. The more structural and sustainable solution is further reopening of the economy that increases the capacity, production, sales, income and employment of many businesses and industries and also helps in increasing the tax revenue collections of the government,” he added.

LOWER DEFICIT CAP
Meanwhile, Mr. Dominguez said in an interview with CNBC on Tuesday that the government is planning to bring down its fiscal deficit as a share of the country’s economic output to pre-pandemic levels of 3.5-4% by next year.

“We are very careful in managing this (pandemic) and we are pretty sure that by 2022, we will begin to return to the normal fiscal deficit we have of about 3.5% to 4%,” he said.

In a separate Viber message, Mr. Dominguez confirmed that narrowing the deficit-to-GDP ratio would largely be driven by revenue, coupled with a strong economic rebound.

“[The planned lower deficit will come] from a combination of a reduction in the disruptions due to the contagion, increase in public and private investments, drop in unemployment, increase in consumption, increase in taxable profit, return to solid investments-led growth of the economy,” he told reporters.

A 3.5-4% fiscal deficit ratio compares with the latest deficit cap of 7.3% of GDP for 2022 that was set by the Development Budget Coordination Committee (DBCC).

If realized, this will be a big turnaround from the actual 7.6% ratio in 2020 and will move closer to the pre-pandemic level of 3.4% in 2019. Before the pandemic, the government had been targeting to cap the budget deficit at 3.2% of GDP.

The DBCC is set to release its revised macroeconomic targets and medium-term fiscal program in May. — B.M.Laforga