Agri startup lets individuals invest in local farmers

August 5, 2021 | 4:07 pm

Farm Box, a social enterprise that helps local farmers by allowing individuals to invest in boxes of their farming essentials, emerged as the winner at Globe Business’ Hack-It-On competition. The start-up received P200,000 worth of prizes, including P100,000 in GCash, and marketing support from Globe.

Through Farm Box, farmers with no savings and no collateral won’t have to depend on loan sharks, said John Lester C. Mendoza, co-founder and chief executive officer, at the Hack-It-On media roundtable on Thursday.

Its website allows individuals to invest in farm boxes containing essentials that farmers need, as well as buy their produce. The Farm Box team used Application Programming Interface (API) technology, specifically “Charging API,” to include channels like mobile load or online banking as payment gateways.

“Payment gateways were a problem so we sought additional methods, and Globe Business provided API to help us deliver,” said Mr. Mendoza, who shared that customers initially complained of the hassle using Google Forms and traditional payment methods.

Fifty ICT (information and communications technology) initiatives competed for a month, identifying pain points and devising digital solutions that used Globe Labs’ APIs before Globe Business chose the winner at an awards ceremony with their partners, the Philippine Software Industry Association (PSIA) and the Philippine Computer Society (PSC). Globe Labs is the developer arm of Globe Telecom.

“Through API solutions, businesses can make use of our enormous infrastructure to reach more people, improve customer engagement, and streamline operations to scale,” said Nicola Ebrada, the InfoComm Industry marketing lead of Globe Business’ micro, small, and medium enterprise (MSME) group. “Our mission is to continue to provide transformative insights and solutions that will solve pressing challenges that will allow our local MSMEs to thrive.” — Brontë H. Lacsamana

US approves potential sales of howitzers to Taiwan — Pentagon

August 5, 2021 | 3:24 pm

Kings of battle keep the fire; 1-9 FA fires its last rounds — Staff Sgt. Richard Wrigley/Public domain/via Wikimedia Commons

WASHINGTON — The US State Department approved the potential sale of 40 155mm M109A6 Medium Self-Propelled Howitzer artillery systems to Taiwan in a deal valued at up to $750 million, the Pentagon said on Wednesday.

This comes after a series of arms sales last year that included drones and coastal missile defenses meant to upgrade the island’s capabilities and discourage a Chinese invasion. The Biden administration has approved other direct commercial sales of arms to Taiwan since taking office.

The package would include the howitzers, 1,698 precision guidance kits for munitions, spares, training, ground stations and upgrades for Taiwan’s previous generation of howitzers, the Pentagon said.

The Pentagon’s Defense Security Cooperation Agency notified Congress of the possible sale on Wednesday.

Taiwan’s defense ministry expressed “sincere gratitude” to the US government in a statement on Thursday, saying the sales would help its ground forces increase their “capacity for speedy reaction and fire support.”

The ministry called the continuous US arms support a “basis for maintaining regional stability.”

Like most nations, the United States has no formal diplomatic ties with Taiwan but is required by law to provide the Chinese-claimed island with the means to defend itself and is its most important international backer, to Beijing’s anger.

Despite approval by the State Department, the notification does not indicate that a contract has been signed or that negotiations have concluded.

The Pentagon said BAE Systems Plc was the prime contractor for the weapons. — Reuters

Biden plans shift in arms export policy to favor human rights — sources

August 5, 2021 | 2:59 pm

US-Pres-Biden 0805 — Official White House Photo by Adam Schultz

WASHINGTON — US President Joseph R. Biden, Jr.’s administration is preparing an overhaul of arms export policy to increase the emphasis on human rights, a departure from former President Donald J. Trump’s prioritization of economic benefits to US defense contractors, four people familiar with the initiative said.

Defense companies and activists scrutinize such policies for insight into the administration’s posture as it balances the commercial interests of exporters like Lockheed Martin Co. and Raytheon Technologies against the country’s stated commitment to human rights.

Two State Department deputy assistant secretaries will brief congressional staff on Mr. Biden’s draft Conventional Arms Transfer (CAT) Policy on Friday, said two of the people familiar with the situation, with a formal unveiling expected as soon as September.

The administration briefed a smaller group of congressional aides about two weeks ago, outlining a State Department desire for a “more robust” review of weapons sales with more input from the department’s human rights bureau, an administration source and a congressional aide who participated said.

Details of the proposed shift have yet to be finalized and are being circulated to other, more export-friendly agencies like the Department of Defense, the people said. The Pentagon has traditionally advocated for putting weapons in the hands of allies so US forces can rely on them more heavily in overseas conflicts.

One congressional aide involved in briefings on the matter said he expected any policy change would have the most impact on sales of smaller weapons such as assault rifles and surveillance equipment, which can be used by police or paramilitary forces against domestic populations.

A senior administration official confirmed that the new CAT policy was being worked on and “will help us build and maintain strategic partnerships that best reflect the values and interests of the United States.”

The new policy would also “more robustly discuss” connections between arms transfers and human rights, the official said.

The revamped policy could affect sales to countries like the Philippines, where human rights groups have called for investigation of police use of lethal force during raids.

Sales of major systems, such as air defense systems or naval systems, could be slowed although they likely would still go ahead.

“In some cases it will add an extra layer to getting to yes on a particular case,” the congressional aide said.

PROGRESSIVE PRESSURE
Advocates of a stronger emphasis on human rights said the shift could affect sales to countries like Saudi Arabia and the United Arab Emirates, especially given pressure from the progressive wing of Biden’s Democratic Party over the toll on civilians of their raids in the civil war in Yemen.

“A new US approach to arms sales is sorely needed. We must move beyond approaching arms sales as purely a transaction,” said Rachel Stohl, vice president at the Stimson Center in Washington.

“Overall, the Biden people seem to be in the same mode as the Trump people in promoting arms exports,” the congressional aide said, noting that the tempo of weapons sales under the Biden administration is about the same as under Trump.

The United States is easily the world’s biggest arms merchant, selling over $100 billion in weapons, services and training a year.

Trump, a Republican who favored weapons sales as a way to create US jobs, rolled out in 2018 a new version of the CAT policy that gave commercial concerns as much weight as human rights in deciding whether to approve weapons sales.

US weapons manufacturers backed Trump’s strategy, which called for Cabinet secretaries to act as closers on major arms deals and sent top government officials to promote US weapons at international air shows and arms bazaars.

Mr. Trump himself promoted arms deals in meetings and conversations with foreign leaders, including pressing the emir of Kuwait to move forward with a $10 billion fighter jet deal.

He controversially cast aside congressional review of major arms deals to push through a massive sale of smart bombs and other weapons to Saudi Arabia and the UAE, despite concerns about the Yemen war and murder of journalist Jamal Khashoggi.

Mr. Trump said Riyadh was spending billions “on the purchase of military equipment from Boeing, Lockheed Martin, Raytheon and many other great U.S. defense contractors” and canceling the contracts would be “foolish.” — Mike Stone and Patricia Zengerle/Reuters

Eumir Marcial bags Olympic bronze after loss to Ukraine boxer

August 5, 2021 | 2:51 pm

Filipino Eumir Felix R. Marcial lost to Oleksandr Khyzhniak of Ukraine by split decision in the semi-finals of the middleweight boxing division at the Tokyo Olympic Games, Thursday.

In a highly intense showdown, 25-year-old boxer stood toe-to-toe with Mr. Khyzhniak for three rounds but in the end could not get the nod of all the judges.

Despite the loss, Mr. Marcial has secured a bronze medal for the Philippines. This will be the fourth bronze medal from boxing for the Philippines, after those of Jose Villanueva (1932), Leopoldo Serantes (1988) and Roel Velasco (1992).

For his efforts, Mr. Marcial is set to receive at least P7 million in cash incentives from the government and private sector. – Michael Angelo S. Murillo

vivo offers big back-to-school discounts at Shopee 8.8 Sale

August 5, 2021 | 2:45 pm

Hunting for an efficient and affordable electronic device for school will be easier as leading smartphone brand vivo presents big back-to-school discounts on selected products at the Shopee 8.8 Sale.

In time with the start of a new academic year, the sale from August 8 to 9 gives shoppers discounted prices of up to P4,000 in several vivo smartphone models such as the V20, Y12s, and Y20s G (4+128), among others.

The vivo V20, originally valued at P19,999, will be priced at only P16,999 and accompanied by a P1,000 OFF voucher at the Shopee 8.8 Sale, totaling the discount for this ultra-slim-designed smartphone to P4,000.

The premium specs of the V20 include the industry-leading 44MP Eye Auto Focus selfie camera and a flagship-level 64MP rear camera. The smartphone also has an Octa-Core Qualcomm Snapdragon 720G Processor (2.3 GHz), 8GB RAM, 128GB storage (expandable up to 256GB), and 4000mAh battery with flash charge technology.

Shoppers can also look into the lesser-priced vivo Y12s, which they can get for only P5,999 along with a P300 OFF voucher, saving them a total of P800 from its P6,499 original price.

The dazzling-colored Y12s is made with a 13-megapixel main rear camera and a 2-megapixel Bokeh camera. It is also equipped with MediaTekHelio P35 chip together with 3GB of RAM and 32GB of storage. It also ships with Android 10 layered with Funtouch OS 11 out of the box.

For those who also want a smartphone that gives an entertaining mobile gaming experience, they can check on the vivo Y20s G (4+128), which is available at only P7,999 with a P300 OFF voucher — an overall discount of P1,300 from its standard price of P8,999.

Encased in a light and slim exterior, Y20s G (4+128) contains an octa-core MediaTekHelio G80 Gaming Processor, 4GB RAM, a 128GB ROM, and 5,000mAh battery. vivo also designed the Y20s G (4+128) with a 6.51-inch HD+ LCD and a triple-camera system led by a 13-megapixel sensor and a front-facing selfie camera with an 8-megapixel sensor.

With stocks for the Y20s G (4+128) stocks running out, however, those who want to avail of this model must shop early.

Four more vivo smartphones available during Shopee’s two-day sale are the Y31, Y20i 2021, Y1s, and the V21 5G.

The bestselling vivo Y31 will be priced at only P11,999 after its P1,000 discount from P12,999. The stylish vivo Y20i 2021, meanwhile, gets a discount of P200 from its P7,499 standard price. As for the slim and smooth vivo Y1s, a P600 amount of discount awaits shoppers.

Model	Original Price (PHP)	Shopee 8.8 Price (PHP)
Y12s	6499	5999
V20	19999	16999
Y20s G (4+128)	8999	7999
Y31	12999	11999
Y20i 2021	7499	7299
Y1s	5499	4899
V21 5G	23999	21999

List of vivo models and their discounted prices during the Shopee 8.8 sale

Adding to the big sales is vivo’s P500 OFF midnight voucher that shoppers can use from 12 a.m. to 2 a.m. on August 8. The voucher is only limited to the first 500 buyers with a minimum purchase of P4,000.

Five more handy vouchers will also be available during the 2-day sale, together with the nationwide free shipping:

P50 OFF voucher (no min. spend)
P100 OFF voucher (min. spend 4000)
P300 OFF voucher (min. spend 5000)
P500 OFF voucher (min. spend 9000)
P1000 OFF voucher (for V20 only)

For more details on the Shopee 8.8 Sale, visit vivo Philippines on Facebook, Twitter, and Instagram. Follow vivo Philippines’ official page on Shopee to get updated on promo announcements and check out www.vivoglobal.ph for more product information.

Sydney suffers worst pandemic day as lockdown nears six weeks

August 5, 2021 | 2:20 pm

SYDNEY — Sydney reported its worst day of the coronavirus disease 2019 (COVID-19) pandemic on Thursday with five deaths and a record rise in locally acquired infections as a weeks-long hard lockdown is struggling to contain the highly contagious Delta strain of the coronavirus.

Four of the five people that died were unvaccinated while one had one dose, New South Wales state health authorities said, as they implored residents to get inoculated as early as possible.

Authorities also announced a one-week lockdown from Thursday in the region surrounding the state’s second-largest city of Newcastle, 140 km north of Sydney, after six cases were reported there.

That will place an additional 615,000 people under lockdown, raising the total in New South Wales under strict stay-home restrictions to 6 million people out of 8 million in the state, or about a quarter of Australia’s population.

The authorities suspect the outbreak began with a beach party near Newcastle after people travelled from Sydney, an apparent violation of the city’s lockdown.

“Our strongest focus … is getting to the bottom of how the disease was transmitted and introduced into Newcastle,” New South Wales Chief Health Officer Kerry Chant told reporters, as most cases were still being detected in Sydney, the state capital and Australia’s largest city.

There were 259 new COVID-19 cases in Sydney, out of 262 in all of New South Wales, health authorities said, daily records for the city and the state, which reported a previous high of 239 on Sunday.

There have been more than 4,300 cases in New South Wales during the latest surge that began seven weeks ago after the first case of the Delta variant was detected in an unvaccinated, unmasked limousine driver who transported overseas airline crew.

‘GET VACCINATED’
In the state of Queensland, whose capital Brisbane is under lockdown, another 16 COVID-19 cases were reported on Thursday, the same as the previous two days.

In the state of Victoria, officials are trying to trace three new cases without links to prior infections that were among eight reported on Thursday. The state reported zero cases for the first time in a month on Wednesday.

One of the three unlinked cases includes a teacher in a school in Melbourne, the state capital.

New South Wales health officials are imploring residents, especially people above 60, to get inoculated.

The five deaths in Sydney included three men in their 60s, one man in 70s and a woman in her 80s, taking the total number of deaths in the latest outbreak in New South Wales to 21.

“Please now is the time to strongly consider getting vaccinated … I put out a plea to you — make an appointment. Get vaccinated,” Ms. Chant said.

With around 35,200 COVID-19 cases and 932 deaths, Australia has avoided the high caseloads of other developed countries but its vaccination figures are among the lowest, with only 20% of its population over 16 fully vaccinated.

New South Wales Premier Gladys Berejiklian has tied the vaccination rate to easing lockdown restrictions on Aug. 28, setting a target of 6 million shots by the end of the month that would cover half the state’s adult population. About 4 million doses have been given so far in New South Wales.

But the growing list of new venues where COVID-19-positive people have visited while infectious is tempering any optimism. About one-fifth of cases reported in New South Wales on Thursday were active in the community, in line with the trend over the last several days.

Victoria also provided an example of how active community cases are likely to cause more cases.

The state, which ended a lockdown only weeks ago, announced that the eight new cases are mostly linked to at least 3,000 close contacts. Authorities warned that would significantly rise, raising the prospect of more curbs.

“Given our understanding of the school community as well as the other exposure sites that are coming online, we would pretty quickly pass 5,000 to 10,000 primary and secondary close contacts within hours if not days,” Victoria Health Minister Martin Foley said in Melbourne. — Renju Jose and Byron Kaye

Carlo Paalam to fight in gold medal match

August 5, 2021 | 2:15 pm

Carlo Paalam of the Philippines booked a spot in the gold medal match of the flyweight boxing tournament of the Tokyo Olympic Games, Thursday, after defeating hometown bet Ryomei Tanaka by unanimous decision.

Looking to barge into the gold medal match, 23-year-old boxer had it rough and tough early against Mr. Tanaka but stayed the course en route to the convincing win in the match held at the Kokugikan Arena in Tokyo.

The win keeps Mr. Paalam on track of duplicating the gold conquest of weightlifter Hidilyn Diaz last week.

He set to face Galal Yafai of Great Britain in the finals on Aug. 7. — Michael Angelo S. Murillo

Vista Residences’ The Currency and The Spectrum stand proud at the heart of Ortigas

August 5, 2021 | 1:57 pm

Ortigas, not Makati, is the center of Metro Manila—literally. It’s the middle ground between the North and South, and the most accessible to employees comprising the working population. It’s no wonder why multinational corporations, financial institutions, even start-up companies choose to build their headquarters here.

Soon, the Sta. Monica–Lawton Bridge will directly connect Ortigas Center to BGC and lessen the travel time from one hour to 12 minutes. Another much-awaited infrastructure project is the MRT-4 that will link parts of Quezon City, San Juan, Mandaluyong, Pasig, Cainta, and Taytay. Ortigas Center will also have two subway stations built within its borders, Ortigas North and Ortigas South, bringing additional transportation options for the residents.

The new normal, however, has made urban homeseekers limit their commute. Therefore, living near the workplace is the best option for those who can’t maximize the work-from-home setup nor focus on their career without being physically in the office.

Vista Residences, the condominium arm of Vista Land Inc., understands the need for beautiful but reasonably priced vertical housing in the heart of Ortigas. It has created not just one but two towers—and architectural masterpieces—within the busy CBD.

Both located on the corner of Julia Vargas and Garnet Road, 33-story The Spectrum and 32-story The Currency boast of generously spaced studio and one-bedroom units for busy individuals, students, and starting families in Mandaluyong.

The Spectrum and The Currency offer one of the most valuable locations because of their proximity to establishments and malls such as the SM Megamall, Robinsons Galleria, St. Francis Square, The Podium, Edsa Shangri-La Manila, ADB and the San Miguel Corp. head office, among others.

They’re also near the best schools in the Metro, namely, La Salle Greenhills, Lourdes School of Mandaluyong, University of Asia and the Pacific, St. Paul University Pasig, Poveda College and the St. Augustine School of Nursing Mandaluyong.

Although surrounded by busy corporate centers and various offices, The Spectrum and The Currency place utmost privacy, safety and exclusivity with its minimal number of units per floor, 24-hours security, and heightened health and safety protocols in the common areas.

Separate lobbies for residents and office employees are manned by receptionists and security personnel. The building is equipped with automatic heat and smoke detectors, fire sprinkler system and stand-by power generators.

Complementing the premium units are world-class amenities that cater to everyone, from children to adults who are yearning to relax and refresh their mind after a hectic day—be it the swimming pool, fitness gym, al fresco dining area, and commercial spaces at the ground floor.

Whether for homeseekers or investors looking for the best condo deals amid the pandemic, The Spectrum and The Currency are a good place to restart your life within the real heart of Metro Manila.

Why do Manchester United think signing an elite striker will solve their problems?

August 5, 2021 | 1:06 pm

Manchester United can be fairly pleased with their 2020-21 campaign. They managed to finish second in the Premier League and made it to the final of the Europa League. It was a shame they didn’t win silverware, but many would say this signifies progress for Ole Gunnar Solskjaer. It feels as though the team is a couple of world-class players short of being title challengers, and it is easy to say that they need a top striker. But is this really the answer to all of United’s problems?

United Linked with Kane and Haaland

United have been linked with Erling Haaland and Harry Kane for some time now, as the world’s top clubs desperately scramble for the signatures of these prolific frontmen. The likes of Roy Keane and Gary Neville have urged United to go out and spend big on one of these players, believing that this is the key to elevating the club to the level they were at under Sir Alex Ferguson. At the moment, United don’t seem like they are close to Manchester City. Pep Guardiola’s side are odds-on favourites in the sports betting to retain the title, but Solskjaer’s side are at 900 at the time of writing.

The arguments of these top pundits certainly make sense. Ferguson had a habit of signing world-class strikers during his time at Old Trafford. The legendary Scottish manager was known to develop a vast amount of youth, but he always seemed to have a preference to sign readymade strikers. These included the likes of Eric Cantona, Ruud van Nistelrooy, Carlos Tevez, and Robin van Persie. On most of these occasions, bringing in these players made the difference as well and took the side to the next level.

A String of World Class Strikers

The problem is, though, that United had Romelu Lukaku on the books only three seasons ago. Few would disagree that the Belgian player is up there with the best strikers in the world, after having scored 47 goals in 72 league appearances for Inter Milan. If United hadn’t had this player before, pundits would be calling for the club to sign him this summer. It raises the question as to why the former Everton man didn’t live up to his potential in Manchester.

There have been other world-class forwards at the club in the years since Ferguson retired. Radamel Falcao and Alexis Sanchez were both major flops that failed to continue their incredible careers at Old Trafford. Memphis Depay was also a highly disappointing signing, but the Dutch forward has gone on to impress at Lyon and for his country. Zlatan Ibrahimovic and Edinson Cavani both enthralled at United, but they weren’t progressive, sustainable additions for the club.

With United having signed plenty of world-class strikers in the decade since Ferguson left, why have none of these made the difference? It may be the case that the problems run deeper, and there are other issues behind the scenes that are having an effect on the team.

Signing Kane or Haaland could help elevate United to the next level. On paper, the signing of either seems like a no brainer. The main worry is that if one of these players joins and joins the list of other failed forwards at United.

Global COVID-19 cases surpass 200M as Delta variant spreads

August 5, 2021 | 12:50 pm

Coronavirus cases worldwide surpassed 200 million on Wednesday, according to a Reuters tally, as the more-infectious Delta variant threatens areas with low vaccination rates and strains healthcare systems.

The global surge in cases is highlighting the widening gap in inoculation rates between wealthy and poor nations. Cases are rising in about one-third of the world’s countries, many of which have not even given half their population a first dose.

The World Health Organization (WHO) on Wednesday called for a moratorium on coronavirus disease 2019 (COVID-19) vaccine boosters until at least 10% of the population in every country was vaccinated.

“We need an urgent reversal, from the majority of vaccines going to high-income countries, to the majority going to low-income countries,” WHO Director-General Tedros Adhanom Ghebreyesus said.

The Delta variant is upending all assumptions about the virus and roiling economies, with disease experts scrambling to find whether the latest version of coronavirus is making people, especially unvaccinated individuals, sicker than before.

At least 2.6% of the world’s population has been infected since the pandemic started, with the true figure likely higher due to limited testing in many places. If the number of infected people were a country, it would be eighth most populous in the world, behind Nigeria, according to a Reuters analysis.

It took over a year for COVID-19 cases to hit 100 million mark, while the next 100 million were reported in just over six months, according to the analysis. The pandemic has left close to 4.4 million people dead.

The countries reporting the most cases on a seven-day average — the United States, Brazil, Indonesia, India and Iran — represent about 38% of all global cases reported each day.

The United States accounts for one in every seven infections reported worldwide. U.S. states with low vaccination rates such as Florida and Louisiana are seeing record numbers of COVID patients hospitalized, despite the nation giving 70% of adults at least one vaccine shot. The head of one Louisiana hospital warned of the “darkest days” yet.

Unvaccinated people represent nearly 97% of severe cases, according to the White House COVID-19 Response Team.

RISING CASES IN ASIA

Countries in Southeast Asia are also reporting rising cases. With just 8% of the world’s population, the region is reporting almost 15% of all global cases each day, according to a Reuters analysis.

Indonesia, which faced an exponential surge in COVID-19 cases in July, is reporting the most deaths on average and surpassed 100,000 total deaths on Wednesday. The country accounts for one in every five deaths reported worldwide each day. The Southeast Asian nation aims to gradually reopen its economy in September, Health Minister Budi Gunadi Sadikin said on Monday, citing that the wave of infections had passed its peak, with daily confirmed cases on the decline.

After suffering its worst outbreak in April–May, India is once again seeing a rising trend of cases. Last Friday, the country reported 44,230 new COVID-19 cases, the most in three weeks, fuelling worries of a third wave of infections that has forced one state to lockdown.

China’s Wuhan city, where the virus first emerged in late 2019, will test its 12 million residents for the coronavirus after confirming its first domestic cases of the Delta variant. The city had reported no local cases since mid-May last year.

The variant, first detected in India, is as contagious as chickenpox and spreads far more easily than the common cold or flu, the CDC said in an internal document.

A key issue, said Dr. Gregory Poland, a vaccine scientist at the Mayo Clinic, is that the current vaccines block disease, but they do not block infection by keeping the virus from replicating in the nose.

As a result, he said, “the vaccines we have currently are not going to be the be-all, end-all,” he said. “We are now in a scenario of our own making, where this is going to be years to decades to now defeat. … And we’re going to chase our tail with variants until we get a type of vaccine that offers infection and disease-blocking capabilities.” — Roshan Abraham and Kavya B/Reuters

Inflation slows to 7-month low in July

August 5, 2021 | 11:10 am

PHILIPPINE INFLATION eased to a seven-month low in July, the Philippine Statistics Authority (PSA) reported earlier this morning.

Preliminary data from the PSA showed headline inflation at 4.0% in July, slowing from the year-on-year rate of 4.1% in June. Still, this was above the 2.7% print recorded in July last year.

The latest headline figure matched the median of the BusinessWorld poll conducted last week. It also fell within the 3.9%-4.7% estimate given by the Bangko Sentral ng Pilipinas (BSP) for July.

The July result marked the slowest in seven months, or since the 3.5% annual rate posted in December 2020. Prior to that, the inflation in June was at a six-month low.

The inflation in July also marked the first time since December that it settled within the BSP’s 2-4% inflation target for the year.

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

Core inflation, which discounted volatile prices of food and energy items, stood at 2.9%. This was slower than the 3% in June and 3.3% in July 2020. It averaged 3.3% so far this year.

On the other hand, the inflation rate for the bottom 30% of income households slightly picked up to 4.4% in July from 4.3% the previous month. It was also faster than the 2.9% recorded in July last year. So far, bottom 30% inflation averaged 4.8% for the year.

The inflation rate for the bottom 30% takes into account the spending patterns of this income segment. Thus, its consumer price index differs from that of the average household with the former assigning heavier weights on necessities. – Nadine Mae A. Bo

SM Foundation provides aid for Typhoon Fabian victims in Bacoor

August 5, 2021 | 10:48 am

SM Foundation, through its Operation Tulong Express Program (OPTE), distributed Kalinga packs to more than 1,100 families affected by the flooding brought by Typhoon Fabian in Brgy.Habay 1, Bacoor City, Cavite. OPTE is a social good program of SM Foundation in collaboration with SM Supermalls and SM Markets which aims to address the needs of communities during calamities and crises.