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Alex Eala advances to another pro tournament quarterfinals

Alex Eala of the Philippines advanced to the quarterfinals of the ITF W25 Grenoble Tournament in France after beating Spain’s Cristina Bucsa, 2-6, 6-3 and 7-6 (10-8), in their second-round match on Thursday (Manila time).  (Rafa Nadal Academy Twitter page)

By Michael Angelo S. Murillo, Senior Reporter

Filipino tennis wunderkind Alex Eala advanced to her fourth straight professional quarterfinal stint after defeating Spain’s Cristina Bucsa, 2-6, 6-3 and 7-6 (10-8), in the second round of the International Tennis Federation (ITF) W25 Grenoble Tournament in France on Thursday (Manila time).

Rafa Nadal Academy scholar and Globe ambassador Eala bucked a rough opening set to charge back and claim the victory in the match which lasted for two hours and 33 minutes.

The Filipino tennis ace struggled to get her game going in the first set, marked by three double faults which the seventh-seeded Bucsa capitalized on to race to the early match lead.

But 15-year-old Eala steadied in the second set, showing more control to get the better of her opponent and level the count to force a deciding set.

In the decider, Eala trailed early, 2-3, but dug deep in the next two games to overtake Ms. Bucsa, 4-3.

The two battled it out the rest of the way but Eala just had more to give in the end and win the tiebreaker, 10-8.

The win came on the heels of Eala’s impressive opening match victory over Romanian Laura-Ioana Paar on Tuesday.

The W25 Grenoble Tournament is the fourth straight professional tournament Eala is competing in after seeing in the three legs of the ITF W15 Manacor Tournament in Spain previously.

The third-ranked juniors player in the world, Eala earned a slot in the tournament through the junior exempt program of the ITF, which gives top-ranked juniors players the chance to compete in a set number of professional tournaments every year.

Her juniors ranking lets her compete in three $25,000 and two $60,000 pro events this year.

Eala is now awaiting her opponent in the quarterfinals between Maja Chwalinska of Poland and Gaelle Desperrier of France.

Fully funded portion of Bayanihan II 100% released 

THE BAYANIHAN II stimulus package’s fully funded portion, worth P140 billion, has been released in its entirety, the Presidential spokesperson said in a televised briefing Thursday, citing the Department of Budget and Management (DBM).

The second Bayanihan law, known formally as the Bayanihan to Recover as One Act or Republic Act No. 11494, provided for up to P165 billion in spending items, supported by P140 billion in appropriations and P25 billion contingent on the availability of funds.

“Ang kabuuan ng P140 billion ay na-release na po sa iba’t-ibang ahensya (The entire P140 billion has been released to various agencies). As far as the DBM is concerned, P100% released,” Presidential Spokesperson Herminio L. Roque, Jr. said at the briefing.

Bayanihan II, which took effect in September, was originally due to expire in December but was extended by Congress for six months because disbursements had fallen behind the pace.

A third Bayanihan package is in the works in the House where more than 100 legislators expressed support for House Bill No. 8031, which if enacted will be known as the Bayanihan to Arise as One Act. It calls for another round of stimulus measures worth P420 billion, including P108 billion for cash assistance to families affected by the prolonged pandemic, P100 billion for establishments in critically impacted industries, P70 billion for workers in the agriculture sector, and P52 billion for small businesses.

At the briefing, Mr. Roque said the executive branch will look into another stimulus program once the funds allocated under the 2021 budget and the extended Bayanihan II package are depleted.

“Titingnan muna kung kailangan talaga ‘yan. Tingnan muna ang utilization rate ng bawat departamento bago mag-decision kung kailangan talaga (We will study whether a third package is necessary. Among the things we will study is to what extent departments use the funds before coming to a decision if a third round is needed,” he said.

Nevertheless, Mr. Roque added: “We really welcome the filing of this bill para kung kinakailangan ay mabilis na ang proseso (so if we decide it is necessary, things will run faster).”

The Small Business Corp. said a third round of assistance is needed to allow it to extend more loans to small businesses, which have been hit hard by the pandemic.

“Dahil mandato naman ng SB Corp. na i-prioritize ang MSMEs (micro, small, medium enterprises) at bigyan sila ng financing, ‘yung Bayanihan III na pino-propose ay talagang sinusuportahan namin ‘yan. (We support Bayanihan III from the standpoint of our mission to help MSMEs) We look forward to the other financing programs para mas marami pa tayong matulungan (to ensure we help more small companies),” SB Corp. Spokesperson Azel Solano said in a televised briefing Thursday.

Ms. Solano said SB Corp. hopes to extend assistance to 50,000 to 60,000 MSMEs this year via its special financing facility.

“Maraming nangangailangan (Many are in need). With the amount of funds that we have, hopefully marami pa ang makapag-apply for loans (I hope many more can apply for loans),” she said. — Kyle Aristophere T. Atienza

Consumption rebound seen in third quarter

HOUSEHOLD CONSUMPTION could pick up in the third quarter as sentiment improves and remittances recover, but this may not be sufficient to bring economic growth this year to pre-crisis levels, according to Standard Chartered Bank.

Household consumption, on which the economy is heavily dependent, is expected to post sustainable and steady growth by the three months to September because consumer sentiment, job creation and wages are expected to remain muted in the first half, according to Chidu Narayanan, an economist at Standard Chartered, who was speaking at an economic briefing organized by the Bank Marketing Association of the Philippines.

Lockdowns and uncertainty over the resolution to the pandemic dampened sentiment and consumption last year as businesses closed and millions lost their jobs. Gross domestic product (GDP) in 2020 posted a contraction of 9.5%.

“If the government does engage in infrastructure investment very strongly in the first half of the year, that could boost sentiment and we could see a rebound (in consumption) in Q3,” Mr. Narayanan said.

He said a robust increase in remittances can be expected this year after an 0.8% contraction in 2020.

Effective government spending to stimulate the economy is expected to take two forms, he said — direct cash transfers to poor households and affected sectors, and efficiently spending the P1.2-trillion budget for infrastructure projects.

Muted consumer demand in the coming months will likely dampen credit growth as well despite the low interest rate environment according to Mr. Narayanan, as companies defer their expansion plans while their plants are operating below capacity.

“We think that credit growth will remain subdued for a few months at least. One big reason for this is there is no appetite to invest. Corporations are running below capacity because of the big contraction last year,” he said.

“Unless you see forecasts and expectations going back to pre-pandemic levels soon, corporations do not have an incentive to be investing,” he added.

Without an increase in investment, bank lending will remain subdued, he said, and the earliest Standard Chartered expects a solid pickup in credit growth is the second half.

Bank lending dipped for the first time in 14 years in December, falling 0.7%, after a rise of 0.5% in November, according to the central bank.

Standard Chartered does not expect the Bangko Sentral ng Pilipinas (BSP) to further reduce benchmark interest rates this year after bringing them to record lows last year, adding that it expects inflation to remain manageable.

The bank expects inflation to remain elevated in the first half given the low base in 2020 and rising global oil prices. It forecast headline inflation to average 3.5% this year, or towards the higher end of BSP’s 2-4% target range.

Standard Chartered expects GDP growth this year of 6.1%, accelerating to 6.5% next year. Its outlook falls outside the official estimates of 6.5-7.5% this year and 8-10% next year. — Beatrice M. Laforga

Caps set on landed cost of hogs shipped to Metro Manila

THE Department of Agriculture (DA) has set maximum prices for the landed cost of hogs shipped to Metro Manila from farms across the country, in order to keep a lid on high pork prices and avert another inflation crisis.

In a memorandum order, Agriculture Secretary William D. Dar said once additional hogs contracted on an emergency basis arrive in Metro Manila via subsidized transport, the landed cost of hogs from Mindanao will be capped at P165 per kilogram. Those from the Visayas, Bicol, MIMAROPA, Ilocos Region, and Cagayan Valley can command P170. The ceiling on Central Luzon and CALABARZON hogs is at P180.

The DA is providing transport subsidies to pig farmers via regional field offices, a cost already factored into the price caps.

“There is a need to provide assistance to legitimate suppliers, sellers, raisers, and traders of hogs to Metro Manila in the form of transport support to ensure unhampered supply, distribution, marketing, and pricing of pork,” Mr. Dar said.

The transport subsidy for hogs from Mindanao was set at P21 per kilogram; from the Visayas, Bicol, MIMAROPA, Ilocos Region, and Cagayan Valley P15; and Central Luzon and CALABARZON P10.

“The transport support is going to be added to their farmgate price, thus the landed cost. The figures are still in the range of the implemented price ceiling,” Agriculture Undersecretary Ariel T. Cayanan said in a virtual briefing Thursday.

President Rodrigo R. Duterte has signed Executive Order (EO) No. 124 capping the price of pork and chicken products sold in Metro Manila to address high retail prices.

EO 124 set the retail price of pork shoulder, or kasim, at P270 per kilogram, pork belly, or liempo, at P300, and whole chicken at P160.

According to the DA memorandum, hog raisers, suppliers, and traders can avail of transport subsidies by presenting documentation such as shipping permits; receipt with information on the number of animals shipped, their destination, the amount paid for them, the date of transport; a certification from the slaughterhouse where the hog was butchered in the case of live animals, and a meat inspection certificate from the National Meat Inspection Service for pork carcasses.

“All transport support claims shall be in the form of reimbursement to be submitted to DA regional field offices where the hogs were sourced,” it said.

Mr. Dar said legitimate suppliers, hog raisers, and traders of live hogs and carcasses with pre-arranged buyers will be entitled to transport subsidies.

He said all live hogs or pork carcasses should be transported to Metro Manila only, with the hogs to be brought to slaughterhouses, and carcasses delivered to cold storage facilities.

According to the DA’s Thursday price monitoring report, the price of pork kasim was reported at P270 to P310 per kilogram, pork liempo P300 to P350, and whole chicken P160 to P200 per kilogram. — Revin Mikhael D. Ochave

NGCP seeks ERC’s OK for 41 capex projects

THE National Grid Corp. of the Philippines (NGCP) has asked the Energy Regulatory Commission (ERC) to approve 41 capital expenditure (capex) projects which are scheduled to be built starting this year, according to documents obtained from the ERC.

On Dec. 4, the NGCP filed two petitions for the immediate implementation of capex projects from its “Group 1” and “Group 3” categories, which it said will help the company maintain the reliability, security and stability of the grid.

Twenty-two of the planned projects are due to be built in Luzon. Nine projects are to be constructed in the Visayas, and 10 in Mindanao.

The Visayas Substation Upgrading Project 2, from the Group 1 category, carries the highest estimated project cost of a Group 1 project at around P18.71 billion. The Visayas substation project is due to be implemented over 32 months, the NGCP said.

Meanwhile, the Western Luzon 500 kilovolt Backbone Project (Stage 2) will cost P18.96 billion, the most expensive in the Group 3 category. The Western Luzon backbone will be implemented over 65 months.

In its petitions, the NGCP asked the ERC to “immediately issue an order provisionally authorizing the implementation of the proposed capex projects; approve — after notice and hearing — the proposed projects; and for other equitable relief.”

In its initial orders posted on its website on Feb. 9, the ERC said that it has found the applications to be sufficient in substance, and that the required fees have been paid. It has set dates for the online hearings on both petitions. — Angelica Y. Yang

DoTr starts work on engineering design of delayed Metro Manila BRT Line 1 project

THE Transportation department said Thursday it is starting work on the preliminary engineering design and detailed engineering design of the 12.3-kilometer Metro Manila Bus Rapid Transit (BRT) Line 1, a flagship infrastructure project.

“We are now starting the preliminary engineering design and detailed engineering design,” Transportation Assistant Secretary Goddes Hope O. Libiran told BusinessWorld in a phone message.

“Last year, this was not started due to the pandemic and lack of budget. But now that the need for public transport is very much felt, we continue to add mass transport for efficient mobility of the people,” she added.

The project, which is being implemented by the department in coordination with the cities of Manila and Quezon City, was financed via official development assistance from the World Bank.

The World Bank approved the financing for the project in 2017.

The total cost of the project is $109.4 million, with the World Bank providing $64.6 million and the government responsible for the balance of $44.8 million.

The loan for the project, according to the World Bank’s website, is set to expire on Nov. 30, 2022.

In a statement, the Transportation department said the implementation of the project, which will traverse España Boulevard and Quezon Avenue, serving about 300,000 commuters daily, is being “fast-tracked.” — Arjay L. Balinbin

Steel industry not planning to request new safeguard duties

THE steel industry does not expect to apply for new safeguard duties following the expiry of the last round of duties in 2019, after concluding that manufacturers have since recovered.

Industry representatives at a public hearing with the Tariff Commission on Thursday said that steelmaker Lunar Steel Corp. moved from loss to profit. The industry had doubled to 21 licensed local players from the previous 10 after the decade-long protection.

“There will be no need for an extension of the safeguard or a reapplication considering that imports are down and continues to be down during this period of pandemic,” Jose Salvador Rivera, Jr., the legal counsel of the petitioner, said after citing discussions with industry leaders.

The official stance of the petitioners, he said, is not to reapply for another round of measures with members showing financial growth.

Ramon Tan, president of a segment of the industry, the Steel Angles, Shapes and Sections Manufacturers of the Philippines, Inc. said, however, that unregistered angle bars are still entering the country.

“With the safeguard duty in place, we are assured of protection coming from the government that… our costs can compete with the imported product. We cannot say (when) the market… will dump another tide of cheap imported angle bars,” he said.

“As of now, (safeguards are) not yet badly needed, but soon it will be a tool to equip the local manufacturer with an additional shield or weapon against an influx of imported angle bars.”

Safeguard duties on steel angle bars were extended to 2019, after first being implemented in 2009 to 2015. The Safeguard Measures Act, or Republic Act No. 8800, allows domestic producers to ask the government to conduct an investigation into their foreign competitors if they claim to have been injured by excessive imports.

The steel angle bar industry successfully petitioned for an extension after it demonstrated that imports seriously injured the industry.

Mr. Rivera said that the problems of the industry have now shifted to smuggling and unfair trade practices, which he said would require remedies other than safeguards.

“As of the present, provided that the trend continues and there is a relatively level playing field, (the) petitioner is confident… that adjustment measures would allow them to compete against imports.”

The tariff commission’s 2017 assessment found that the domestic steel angle bar industry complied substantially with commitments to adjust to competition.

The initial application for safeguards came from Cathay Metal Corp., Dragon Asia Rolling Mills, Inc., and Lunar Steel Corp. — Jenina P. Ibañez

Palay farmgate price rises 0.1% in second week of Feb.

THE average farmgate price of palay, or unmilled rice, rose 0.1% week-on-week to P16.72 per kilogram during the second week of February, with the price rising 4.6% from a year earlier, the Philippine Statistics Authority (PSA) said.

In its weekly update on palay, rice, and corn prices, the PSA said the average wholesale price of well-milled rice rose 0.2% to P37.37 while the retail price rose 0.1% to P40.93.

The average wholesale price of regular-milled rice fell 0.1% to P33.31 while the retail price fell 0.03% to P36.14.

The farmgate price of yellow corn grain fell 0.1% week-on-week to P12.51.

The average wholesale price of yellow corn grain fell 0.1% to P19.97 while the retail price fell 0.5% to P24.34.

The farmgate price of white corn grain rose 2.5% week-on-week to P13.82.

The average wholesale price of white corn grain fell 0.2% to P17.13 while the retail price fell 0.6% to P25.71. — Revin Mikhael D. Ochave

DBM warns agencies against dealing with unauthorized parties

THE Department of Budget and Management (DBM) warned local government units (LGUs) and government agencies against dealing with individuals and groups claiming the ability to fast-track the release of budget funds.

Budget Secretary Wendel E. Avisado, in Circular Letter 2021-2 dated Feb. 9, said individuals and organized groups are claiming they can facilitate or influence the release of special allotment release orders (SAROs) and notices of cash allocation (NCAs) for this year’s P4.5-trillion budget.

SARO is an authority given by the DBM permitting agencies and LGUs to incur obligations to cover the funding needed for a certain program, while the NCA represents clearance to use cash set aside for them.

“We strongly advise all National Government Agencies (NGAs), LGUs and all others concerned to refrain from entertaining or transacting with such individuals/organized groups,” according to the circular, published Thursday.

“This is to emphasize that the DBM does not authorize any person or group of persons to coordinate, more so solicit any amount from NGAs/LGUs, in order to facilitate the release of funds,” it added.

It said the DBM is following the formal procedures for the release funds and there is no need for middlemen to intervene in the process.

“In order to avoid disclosure of valuable information… the DBM shall refrain from divulging the status or details of fund releases in case of phone queries,” it said.

However, inquiries sent through e-mail will be entertained if there is an authorization letter and an identification card attached.

The DBM released 58.42% or P2.629 trillion of the P4.5-trillion budget for the year as of January, leaving about P1.877 trillion to disburse over the remaining 11 months. — Beatrice M. Laforga

Manila to work with EU on free trade — Duterte

THE PHILIPPINES would keep working with the European Union (EU) on issues including free trade and investment, President Rodrigo R. Duterte said on Wednesday as he got a visit from the bloc’s ambassador-designate.

“The Philippines is ready to work constructively with the EU for the greater good of our peoples,” Mr. Duterte told Luc Véron, Ambassador-designate of the EU to the Philippines after accepting his credentials at the presidential palace, the latter said in a statement on Thursday.

The country would also work with the EU to mitigate climate change, boost humanitarian assistance and disaster relief, said the President, who earlier accused the EU of holding up the supply of coronavirus vaccines.

Mr. Duterte said the country would continue to “redefine, refine and reinforce” its ties with the EU in the face of new challenges.

“Our priority is to intensify trade and investment through a free trade agreement,” he said. “We wish to partner with the EU to protect and promote all rights of all, especially the human rights of migrant workers.”

Last week, Mr. Duterte accused the EU of holding up coronavirus supplies from other countries, citing the bloc’s export rule that requires drug makers to obtain permission first before shipping vaccines outside the region.

The rule was imposed after British-Swedish drug maker AstraZeneca Plc failed to meet its scheduled vaccine delivery to the EU.

Mr. Duterrte said the issue was getting the supplies as big powers such as the EU not only buy up doses in bulk but have threatened to restrict exports of certain COVID-19 vaccines. “AstraZeneca was held hostage by the European Union,” he said early this month.

He said Southeast Asian nations are not as powerful as the EU and they don’t have connections to ensure sufficient access to the vaccines.

“The country is a friend to all and enemy to none,” his spokesman Harry L. Roque, Jr. said at a televised news briefing in Filipino on Thursday. “The President has seen that the country’s ties with the EU has benefited Filipinos. There is no reason to end their relations.”

Mr. Duterte would prioritize the national interest, Mr. Roque said.

“The EU and its member-states will continue their efforts to contribute to the international response to the pandemic including guaranteeing affordable and fair access to vaccines for all,” Mr. Véron had told the President.

The Philippines and the EU share a “deep respect for democracy and the rule of law,” Mr. Duterte said. “This will serve as a solid foundation for robust cooperation on the basis of mutual trust, respect, and benefit.”

The international community has condemned Mr. Duterte’s drug war that has killed thousands of suspected pushers.

Congress also rejected a plea by ABS-CBN Corp., a media network critical of the government, to have its franchise renewed.

Mr. Duterte in 2017 warned EU ambassadors living in Manila that he would cut diplomatic ties with the bloc and would order them to leave the country for interfering in the country’s affairs.

The European Parliament last year adopted a resolution calling on the European Commission to immediately start the procedure for the revocation of generalized scheme of preferences (GSP+) status enjoyed by the Philippines, citing the government’s failure to improve the human rights situation in the country.

“The EU and the Philippines have developed a strong economic and trade partnership characterized, despite the crisis, by substantial trading goods balance in favor of your country worth P715 billion,” Mr. Véron told the tough-talking Philippine leader.

Mr. Duterte also accepted the credentials of envoys Antonio Jose Maria de Souza e Silva of Brazil, Kim Inchul of South Korea, Michele Jeanine Boccoz of France and Marcela Ordoñez of Columbia. — Kyle Aristophere T. Atienza

Philippines to take delivery of Sinovac vaccines on Feb. 23

THE PHILIPPINES will take delivery of 600,000 coronavirus vaccines from China’s Sinovac Biotech on Feb. 23, according to the presidential palace.

Of the initial batch, Beijing will donate 100,000 doses to the Philippine military, presidential spokesman Harry L. Roque, Jr. told an online news briefing on Thursday.

The country also expects to take delivery of 117,000 doses of Pfizer, Inc. vaccines under a global initiative for equal access this month, he added.

The local Food and Drug Administration (FDA) has approved the emergency use of Pfizer’s COVID-19 vaccine. Sinovac has yet to get approval for emergency use.

Sinovac’s vaccines would be stored until their use is approved, Mr. Roque said. The vaccines would be sent back if these don’t get approved.

Mr. Roque said China’s vaccine donation would not affect its sea dispute with the Philippines.

The Chinese government in January said it would donate 500,000 vaccine doses to the country.

Mr. Roque said the FDA had given the Presidential Security Group (PSG) a “compassionate permit” for the use of 10,000 doses of vaccines developed by another Chinese drug maker, Sinopharm Group Co. Ltd.

Critics earlier flagged the inoculation of presidential guards with unapproved vaccines last year. PSG members had to be vaccinated “because their job is to provide security to the President,” Mr. Roque said.

The Department of Health (DoH) reported 1,734 coronavirus infections on Thursday, bringing the total to 543,282.

The death toll rose by 68 to 11,469, while recoveries increased by 423 to 500,335, it said in a bulletin.

There were 31,478 active cases, 87.6% of which were mild, 6.9% did not show symptoms, 2.5% were critical, 2.4% were severe and 0.62% were moderate.

DoH said 12 duplicates had been removed from the tally, while 52 recovered cases were reclassified as deaths. Two laboratories failed to submit their data on Feb. 10.

More than 7.7 million Filipinos have been tested for the coronavirus as of Feb. 9, according the DoH’s tracker website.

The coronavirus has sickened about 107.9 million and killed almost 2.4 million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization (WHO).

About 79.9 million people have recovered, it said. — Vann Marlo M. Villegas and Kyle Aristophere T. Atienza

Senator seeks probe of underspending by gov’t amid pandemic

A SENATOR has filed a resolution seeking to investigate government underspending and delays in releasing cash aid to frontliners under its recovery plan.

Senator Francis N. Pangilinan on Wednesday filed Senate Resolution 647, noting that only P103.24 billion of P140 billion in funds under the second stimulus law had been released as of Jan. 4.

He also flagged delays in the release of contact tracers’ salaries, special allowances of health workers, cash subsidies to jeepney drivers.

Mr. Pangilinan also cited underspending by the Transportation and Agriculture departments of their budgets under the second stimulus law and the slow release of emergency cash assistance and implementation of coronavirus-related programs.

“We in Congress rushed the approval of two Bayanihan laws and the budgets to ensure there were funds to control the COVID,” he said in a statement in Filipino.

“These delays and underspending are unacceptable given that Bayanihan II was signed into law on July 27, 2020,” he added.

The senator said the Agriculture department had only used a quarter of its funds under the second stimulus law.

He cited the Philippines’ abysmal rankings in coronavirus management and vaccine procurement. It ranked 79th among 98 nations in containing the pandemic, according to a study by the Lowy Institute.

“We can’t let bureaucracy slow us down from delivering much needed aid and support,” Mr. Pangilinan said.

A similar probe had been sought at the House of Representatives.  — Vann Marlo M. Villegas

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