Home Blog Page 6765

Singapore launches vaccinated travel lane with the Philippines

BLOOMBERG

SINGAPORE will ease COVID travel testing rules and launch new vaccinated travel lanes (VTL) with the Philippines and Israel as it woos more tourists and seeks to reclaim its status of one of Asia’s major travel hubs. Shares of the city-state’s aviation-related stocks rose.

The city-state also will start previously announced VTLs from Feb. 25 with Qatar and the United Arab Emirates — major transit hubs in their own right — and Saudi Arabia, the Civil Aviation Authority of Singapore said in a statement Wednesday. The lanes with the Philippines and Israel will start March 4.

At the same time, rules for travelers from Hong Kong were tightened slightly: Singapore downgraded the financial hub’s status because of its own outbreak, but will open a travel lane so vaccinated travelers from Hong Kong can still enter without quarantining.

Singapore has been seeking to revive its status as an aviation hub after starting travel lanes with more than 20 countries including the US, UK and France last year, and refrained from closing them completely even when the omicron variant sent case numbers soaring. Regional rivals including Tokyo, Hong Kong and Shanghai remain largely closed to international visitors as those places seek to keep imported infections low.

Flagship carrier Singapore Airlines had said in a statement Wednesday that it will expand its vaccinated travel-lane network to 47 cities in coming weeks, adding hubs like Dubai and Hong Kong. It also will increase the frequency of flights on several existing routes.

In a briefing to reporters, Health Minister Ong Ye Kung signaled that the country was prepared to reopen even further after the Omicron wave has passed, potentially allowing any vaccinated travelers to come to Singapore without quarantine.

In other measures outlined Wednesday, people coming to Singapore via the travel lanes and from low-risk countries like mainland China no longer will need to pay for polymerase chain reaction tests on arrival. Instead, they’ll take a supervised, rapid test, the Ministry of Health said in a separate statement.

Also to be scrapped is a requirement for travelers to self-administer tests for seven days after arrival if they want to go outside. The risk-classification system for countries will also be simplified, with travelers from countries with higher infection numbers having to serve seven days of quarantine starting Feb. 22.

The raft of travel initiatives may help revive air-passenger traffic to Singapore, which has remained subdued: Some 330,000 international visitors came to the island in 2021, compared to 19.1 million in 2019 before the global pandemic.

Singapore’s central bank last month flagged the cost of testing for international travel as a driver of inflation, along with food and fuel prices. The on-arrival PCR tests that have been required until now cost S$125 ($93), significantly more than their rapid counterparts, which cost just S$15 and are widely available. — Bloomberg

Russia’s military build-up near Ukraine is growing, not shrinking, warns West

REUTERS

MOSCOW/KYIV — There is a growing Russian military presence at Ukraine’s borders, Western countries warned on Wednesday, as Estonia said battle groups were moving ahead of a likely attack to occupy “key terrain,” contradicting Moscow’s insistence of a pullback.

More armored vehicles, helicopters and a field hospital have been spotted, Britain’s defense intelligence chief said in rare public comments.

Up to 7,000 more troops have moved to the border in recent days, including some arriving on Wednesday, a senior official in US President Joseph R. Biden’s administration said, without providing evidence.

World powers are engaged in one of the deepest crises in East-West relations for decades, jostling over post-Cold War influence and energy supplies as Russia wants to stop Ukraine ever joining the NATO military alliance.

Western nations have suggested arms control and confidence-building steps to defuse the standoff, which has prompted them to urge their citizens to leave Ukraine because an attack could come at any time. Russia denies it has any plans to invade.

“There’s what Russia says. And then there’s what Russia does. And we haven’t seen any pullback of its forces,” US Secretary of State Antony Blinken said in an interview on MSNBC.

“We continue to see critical units moving toward the border, not away from the border.”

Estonian intelligence is aware of around 10 battle groups of troops moving toward the Ukrainian border, where it estimates about 170,000 soldiers are already deployed, said Mikk Marran, director general of the Estonian Foreign Intelligence Service.

The attack would include missile bombardment and the occupation of “key terrain,” he added.

“If Russia is successful in Ukraine, it would encourage it to increase pressure on the Baltics in the coming years,” he said. “The threat of war has become the main policy tool for Putin.”

Russia’s defense ministry said its forces were pulling back after exercises in southern and western military districts near Ukraine, and Moscow’s ambassador to Ireland insisted forces in western Russia would be back to their normal positions within three to four weeks.

It published video that it said showed tanks, infantry fighting vehicles, and self-propelled artillery units leaving the Crimean peninsula, which Moscow seized from Ukraine in 2014.

But NATO military commanders are drawing up plans for new combat units that diplomats said could be deployed in Bulgaria, Romania, Hungary and Slovakia.

Such units — designed to buy time for additional soldiers to reach the front line if needed — already exist in Poland and the Baltic states.

Britain will double the size of its force in Estonia and send tanks and armored fighting vehicles to the small Baltic republic bordering Russia as part of the NATO deployment.

Ukraine also increased the number of border guards on its frontier with Belarus, Russia’s ally, where some 9,000 Russian troops are estimated to be involved in military exercises.

President Volodymyr Zelensky, who is criss-crossing the country to help bolster Ukrainians’ morale, observed drills by his armed forces that included Javelin anti-tank missiles.

Wednesday was designated a patriotic holiday in response to reports Russia could invade on that day. “No one can love our home as we can. And only we, together, can protect our home,” he said.

People raised flags and played the national anthem to show unity against fears of an invasion.

The government said a cyberattack that hit the defense ministry was the worst of its kind the country had seen, pointing the finger at Russia, which denied involvement. —  Reuters

Taiwan to boost protection for its semiconductor secrets

REUTERS

TAIPEI — Taiwan’s government proposed on Thursday a new law to prevent China from stealing its chip technology, amid rising concern in Taipei that Beijing is stepping up its economic espionage.

Tech powerhouse Taiwan makes the majority of the world’s most advanced semiconductor chips, used in everything from fighter jets to mobile phones, and the government has long worried about Chinese efforts to copy that success, including through economic espionage, poaching talent and other methods.

Taiwan’s cabinet said it had proposed new offenses for “economic espionage” under the national security law, setting out punishment of up to 12 years in prison for those who leak core technologies to China or “foreign enemy forces”.

Using chip giant TSMC’s most advanced 2-nanometer chipmaking technology as an example, cabinet spokesman Lo Ping-cheng said such technology could be deemed vital to Taiwan’s security under the new law, and thus extra protection was needed for it, in addition to existing laws on trade secrets.

“Everyone knows that TSMC … has world-leading technologies,” Mr. Lo said. “If their technologies were stolen there would be a significant impact.”

A designated court for economic espionage crime would be established to speed up trials, Mr. Lo added.

The government also proposed tightening laws to prevent Chinese companies from illegally poaching Taiwan talent via firms set up in a third country.

It also toughened punishment for Chinese investment in Taiwan via illegal methods, which the government said had led to many cases of industrial espionage in recent years.

“The infiltration in Taiwan’s industries from the red supply chain is getting more and more severe in recent years,” Taiwan Premier Su Tseng-chang said in a statement, referring to Chinese tech suppliers.

“They poached our nation’s high-tech talents and stole the nation’s core and key technologies.”

Taiwan’s parliament has to pass the revisions before they become law. — Reuters

Rare baby ghost shark discovery delights New Zealand scientists

SYDNEY — While typically heard in an omnipresent children’s song, the phrase baby shark has delighted New Zealand scientists after the rare discovery of a juvenile ghost shark during a survey off the east coast of the country’s South Island.

Ghost sharks, also known as chimaeras, are not really sharks but are related to sharks since both of their skeletons consist of cartilage rather than bone.

Not much is known about these marine creatures because they usually reside at depths of up to 6,000 feet (1,829 meters), largely inaccessible to researchers.

“What we do know tends to come from the large adults which are usually a meter, a meter and a half in length, so finding one that actually kind of just sits in the palm of my hand is incredibly uncommon,” Brit Finucci, a scientist at New Zealand’s National Institute of Water and Atmospheric Research told Reuters on Thursday.

This newly hatched ghost shark was grabbed from a depth of 1.2 kilometers (0.75 mile), Ms. Finucci said. Photos of the baby ghost shark showed black fins connected to a body of translucent skin with a wispy white tail and black eyes.

“I thought it was cool, other people on the boat not so much,” laughed Ms. Finucci. “I knew right away it was just something different that we don’t generally come across so I grabbed it and took a couple of photos which have now spread all over the internet.”

Juvenile ghost sharks tend to be found at different depths than the adults and in some cases look different than the adults, she said. The creatures, which are also called ratfish, rabbitfish, elephant fish or spookfish, have large heads and oversized eyes versus their body.

Ghost shark embryos develop in egg capsules laid on the sea floor, feeding off a yolk until they are ready to hatch.

The “very rare and exciting find” will give some insight into the species, she said. “It kind of fills in some of the little gaps here and there.” — Reuters

PEZA-registered locators’ exports up 14% in 2021

THE Philippine Economic Zone Authority (PEZA) said its locators posted growth of 14% to $63.061 billion on their exports in 2021.

PEZA Director-General Charito B. Plaza said in a statement on Thursday that employment in registered economic zones (ecozones) rose 13.91% to 1.782 million jobs in 2021, equivalent to about 217,700 new jobs, Ms. Plaza said.

PEZA said it approved P69.301 billion worth of investments in 2021, adding that the estimated annual export sales from these new investments is $2.138 billion. Approved investments for 2021 declined 27%.

It said the new investments are projected to create 35,245 direct jobs across 249 new projects.

The current roster of ecozones is 415.

Of the 2021 investments, PEZA said manufacturing accounted for P25.509 billion while information technology (IT) projects took in P7.322 billion.

“PEZA-registered tourism and export enterprises engaged in technical testing and analysis, installation of system for factory automation, technical support, and quality control (made a) comeback, (with) P2.058 billion and P545.019 million in investments respectively in 2021,” PEZA said.  

Ms. Plaza said Japan was the top investor, accounting for 21.7%. Other major investors were South Korea, India, Hong Kong, China, Germany, Austria, the US, Denmark, France, and Canada.

“As of Nov. 15, 2021, we have 961 PEZA-registered Japanese companies. Japan’s investments reached P22.870 billion last year, a 190.20% increase from P7.881 billion in 2020. Their total approved investments from 1995 to 2021 is P728.337 billion,” Ms. Plaza said.

PEZA said the Calabarzon region (Cavite, Laguna, Batangas, Rizal, Quezon) attracted the most investment with P25.263 billion.

“While the COVID-19 pandemic posed more economic challenges to foreign direct investments (FDIs) in 2021 than in 2020, PEZA remains committed and hopeful in attracting more local and foreign investment for the year 2022,” Ms. Plaza said.

PEZA Deputy Director General Tereso O. Panga said the agency is targeting 6% investment growth in 2022.

Regarding regulatory matters, he added that “ecozone investors complained about some provisions of the Republic Act 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law on tax incentives, the slow proclamation process (for incentive eligibility), the moratorium on I.T. center development in the National Capital Region (NCR), and the late promulgation of the Strategic Investment Priorities Plan, which affected their investment plans for last year,” he added.

In January, PEZA’s board approved nine new and expansion projects involving P3.480 billion in investment.

“Estimated annual export sales from these investments is $56.090 million with the creation of 732 direct jobs,” PEZA said. — Revin Mikhael D. Ochave

DBM releases P7.92 billion for COVID risk allowances

REUTERS

THE Department of Budget and Management (DBM) said it has released P7.92 billion worth of allowances for workers involved in containing the coronavirus disease.

Eligible for the One COVID-19 Allowance are 526,727 healthcare and non-healthcare workers involved in the coronavirus disease 2019 (COVID-19) response, the DBM said in a statement on Thursday.

Of the total, P4.5 billion was allocated as COVID-19 benefits for Health department employees in public hospitals, offices, and rehabilitation centers. This includes personnel in military and state university hospitals.

The remaining P3.42 billion will be given to 426,414 health workers reporting to local government units and private health facilities.

Each worker will receive a monthly benefit of P3,000, P6,000, or P9,000 depending on the level of risk at their jobs.

“The benefit shall be given in full amount provided that the health professional physically reports to work for at least ninety-six hours per month, otherwise the benefit shall be prorated,” the DBM said.

Other than the P7.92 billion from the Health department’s budget, another P42 billion can be tapped from the unprogrammed appropriations for the allowance.

“The DBM will continue to ensure the timely and prudent approval of the budget releases to ensure the welfare of the frontliners as we bounce back from the impact of the health crisis,” it said.

Healthcare workers have been protesting the COVID-19 benefits prescribed under Bayanihan II, or the Bayanihan to Recover as One Act, with the One COVID-19 Allowance, calling them unequal because of the risk categories, and discriminatory.

Health workers have been calling for a P15,000 monthly special risk allowance. — Jenina P. Ibañez

Manila Water, MWSS delay start of new concession deal to March 18

BW FILE PHOTO

MANILA WATER Co., Inc. said that it has agreed to delay the start of the new concession deal with the regulator, the Metropolitan Waterworks and Sewerage System (MWSS), to March 18.

In a disclosure on Thursday, Manila Water said the delay was agreed to in a fourth amendment to the Revised Concession Agreement (RCA).

The delay allows “more time for the remaining condition precedent to the effectivity of the RCA” to be accomplished. No details were provided on the “remaining condition” that needed to be fulfilled.

The RCA, which was renegotiated after the government sought a new deal, claiming that the original agreement was disadvantageous, includes a tariff freeze until Dec. 31, 2022 and the removal of the foreign currency differential adjustment.

It also includes a tariff adjustment formula for inflation, which will be two-thirds of the growth reflected in the consumer price index.

The three previous amendments also involve postponements of the RCA effectivity date.

Manila Water provides water and wastewater services to the East Zone concession area of Metro Manila. — Luisa Maria Jacinta C. Jocson

2022 Trek UCI Gravel World Series to be held in Bongabon, N. Ecija

THE Union Cycliste Internationale (UCI) is set to hold its inaugural sanctioned gravel world championships series, with the first event to take place in Bongabon, Nueva Ecija on April 3, 2022.

While the final list of locations is yet to be revealed, races will be held in select event venues in North America, Europe, Australia, and Asia.

The Trek UCI Gravel World Series Philippines event will include an 85km (qualifier distance for 19 to 49) and 62km course (qualifier distance for 50 and above) — the majority of the race is flat and fast. Starting in Vega Grande, located north of Bongabon, the 85km course is a mix of flat gravel roads along the river, forest roads, and dirt roads. The shorter, 62km course includes a shortcut to the same finishing point of the 85km course.

The first race of the Trek UCI Gravel World Series will coincide with Bongabon’s festive season. The celebration is a form of thanksgiving for a bountiful onion harvest.

Growth in currency swaps seen reflecting greater economic integration within East Asia

BW FILE PHOTO

CURRENCY swap agreements are increasing in the region as a means of facilitating trade and stabilizing financial markets, and reflect the increasing trend in economic integration, the ASEAN+3 Macroeconomic Research Office (AMRO) said.

Bilateral swap agreements (BSAs) in the ASEAN+3 region have amounted to $381.6 billion, up 15% compared to the end of 2020.

ASEAN+3 represents all 10 members of the Association of Southeast Asian Nations, along with China, South Korea, and Japan.

Bilateral currency swaps are essentially offsetting loans among the parties, with each side holding funds in the swap partner’s currency.

A swap participant’s possession of a partner currency is thought to facilitate bilateral trade while enhancing its banking system’s liquidity.

The implied valuation of the virtual loans also helps set a benchmark for the currencies, which could help stabilize foreign exchange markets during a crisis.

The bulk of the region’s swaps involve the People’s Bank of China’s agreements with the Hong Kong Monetary Authority, Bank of Korea, and Bank Indonesia, AMRO said in a note on Thursday.

Japan’s Ministry of Finance has a $12-billion currency swap agreement with the Bangko Sentral ng Pilipinas (BSP), representing just over 3% of the total in the region.

“Swaps among the ASEAN-5 countries (Indonesia, Malaysia, the Philippines, Singapore and Thailand) highlight the objectives of facilitating local currency settlements in trade and investment and stabilizing financial markets; given the deeper integration of trade and finance among such economies,” AMRO said.

The Philippines and Japan renewed the currency swap agreement to support financial stability and regional cooperation, the BSP said in January. Both parties can swap their currencies in exchange for the dollar, while the Philippines can swap pesos for yen.

The limits on the swap agreement remain at $12 billion or the equivalent in yen for the Philippines, while Japan can swap up as much as $500 million.

The BSP said the bilateral deal with Japan reflects changes to the Chiang Mai Initiative Multilateralization agreement of the ASEAN+3, which strengthened coordination with the International Monetary Fund.

“The Philippines has access to similar facilities such as the Chang Mai initiative as well as other emergency lines with multilateral institutions. Although it would not hurt to have these swap lines in place, I believe the Philippines is well placed and has adequate arrangements in place to weather a potential liquidity crunch,” ING Bank N.V. Manila Senior Economist Nicholas Antonio T. Mapa said in an e-mail.

“It would be beneficial to have get such arrangements as additional safeguards in the future, but it may not be an immediate need as of the moment.”

AMRO said the BSAs have various aims, including easing pressure on currency funding markets, mitigating balance of payments needs, facilitating trade and investments, and promoting currency internationalization. — Jenina P. Ibañez

PSC’s Rise Up! Shape Up! features wrestling on Feb. 19

WRESTLING will take the spotlight in the upcoming webisode of the Philippine Sports Commission’s (PSC) Rise Up! Shape Up! on Saturday.

This weekly web series will feature Jonathan Arias on Feb. 19, and his sports program called, “Teach Me Wrestling” which won the “Proyektong Isport Pangkababaihan” award at the 2021 PSC Gintong Gawad.

Mr. Arias founded the program to challenge the status quo in a rural conservative community in Tabaco City, where wrestling is often perceived as a male sport. It encourages schoolgirls to learn the sport, build physical and mental strength, and allow them to break the mold in sports development.

PSC Commissioner Celia H. Kiram, who oversees the Women in Sports program, values the support of grassroots communities in helping the agency in its vision of promoting sports excellence nationwide and discover new talents that would soon wear the Philippine tricolors.

Mr. Arias is currently a DepEd Teacher II in Tabaco City and is consistently recognized for his significant contributions to school-oriented initiatives.

He was cited as one of the Top 5 Outstanding Teachers in the City in 2017. As a coach, Mr. Arias led his martial arts team comprised of young girls with 17 medals (4 gold, 6 silver, and 7 bronze) during the 2018 Women’s Martial Arts Festival and won 2 silver and 3 bronze medals during the virtual competition last year. Mr. Arias also led his team to back-to-back championships during the 2017 and 2018 Palarong Bicol.

Fun and friendship fuel Norway’s Olympic gold rush

ZHANGJIAKOU, China — Norway could set a record for the total number of gold medals won by a country at a single Winter Olympics in Beijing but for chef de mission Tore Oevreboe, enjoying themselves and creating good relationships is more important than winning.

With Norway’s chances of claiming more gold in the remaining biathlon and cross-country races looking good before the Games close on Sunday, the record is within reach but Oevreboe and the Norwegians measure success in different terms.

“The main objective for us is to make the athletes have fun all the way through the Games,” he said as Norway won the men’s cross-country team sprint for a 13th Beijing gold, one medal shy of the record jointly held with Canada and Germany.

The Norwegians put their winter sports success in recent years down to a three-pronged approach.

“One of them is to have a very high quality of daily training, which is the main thing to do to achieve development over time, and we are also very specific in the work with the competitions, preparations and execution,” he told Reuters.

“But there is a third area that we are very, very eager at working with — it’s to establish and develop good and safe relationships between the athletes themselves and also between the athletes and their coaches and the staff around.

“We are very occupied with creating a good environment, a stable environment, a safe environment, an environment full of fun, so they can really enjoy life when they are doing sport at a high level,” Oevreboe added.

Creating those conditions for success begins long before the likes of Olympic champions Johannes Klaebo and Marte Olsbu Roieseland get to the elite level.

“This is part of the Norwegian sports model, all the way from the start from childhood — it should be physical activity based on fun, many types of activities, variety, different sports,” the 56-year-old former Olympic rower said.

“Lots of small competitions, but we do not track the results of the athletes.”

Oevreboe prefers an approach whereby youngsters can try as many sports as possible before specializing at a later age, rather than hand-picking talented children for specific events.

He believes the aim should be not just producing great champions, but also good Norwegians at every level of society.

“Many of the kids have good opportunities to realize their potential in a variety of fields, and sport is one of them… and then they will develop their potential as humans and citizens,” he said. — Reuters

Atletico problems deepen with defeat to struggling Levante

MADRID — LaLiga champions Atletico Madrid fell to a shock 1-0 defeat on Wednesday at home to basement club Levante, who picked up only their second win of the season.

Gonzalo Melero’s goal in the second half inflicted a sixth defeat in 10 league matches on Atletico, deepening their problems a week before they host Manchester United in a Champions League last-16 first leg.

Atletico had pulled off stunning comeback victories at home against Valencia and Getafe in the last month and thought they had grabbed an equalizer when Angel Correa netted with a spectacular overhead kick in stoppage time.

But the goal was ruled out for a foul by Jose Gimenez on Martin Caceres and Correa was shown a yellow card for his angry reaction to the decision.

Levante’s Mickael Malsa almost scored a second for the visitors with a spectacular effort from near the halfway line which hit the crossbar.

Atletico then came within inches of snatching a last-gasp leveler when goalkeeper Jan Oblak came up to contest a set-piece and headed just wide of the far post.

Diego Simeone’s side missed the chance to overtake Barcelona in fourth spot and were left fifth in the standings on 39 points. Levante stayed bottom of the table but moved on to 14 points, 10 from escaping the relegation zone. — Reuters