Globe Telecom, Inc. said it expects to have 1.4 million fiber lines by yearend, as demand for fiber connection soared during the pandemic.
“We built only 50,000 ports in 2019. We built 600,000 ports in 2020. In 2021, we expect to build about 1.4 million ports and that pivot was largely driven by the change of habit in the home,” Ernest L. Cu, president and chief executive officer of Globe Telecom, said in a webinar on Friday.
As most Filipinos continue to working from home nearly two years into the pandemic, Mr. Cu said the demand for faster internet connection remained high.
“That’s bringing tremendous load on the networks that wireless can no longer deliver. Everybody wants fiber and that’s why we are doing it,” Mr. Cu said.
As of September this year, Globe has already achieved its target of building one million fiber lines.
Mr. Cu said Globe currently has 641 newly built cell towers, 1,759 5G sites across the country, and 8,175 mobile sites that have been upgraded.
Shares of Globe Telecom at the stock exchange on Friday declined by 3.88% or P130, closing at P3,220 apiece. — Keren Concepcion G. Valmonte
PayMaya Philippines, Inc. partnered with international firm bolttech group to offer “sachet-sized” insurance products and services tailored for the country’s young and underserved market.
The products are under “PayMaya Protect,” which is powered by the insurance exchange platform of bolttech. It may be accessed through the PayMaya app.
“Our initial offers for health insurance and device protection are very relevant now, especially among our younger customers seeking better ways to protect what matters most to them,” PayMaya Philippines President Shailesh Baidwan said.
The Personal Protect is offered in partnership with underwriter Pioneer Insurance & Surety Corp., covering expenses for dengue, coronavirus disease 2019 (COVID-19), as well as permanent total disability. Health coverage products may be availed in bundles for a minimum coverage of three months.
Meanwhile, PayMaya and bolttech will also offer Mobile Protect which will cover mobile device services for cracked screens, water damage, and such incidents for devices. Consumers may avail of the package monthly.
“We share PayMaya’s vision of empowering more Filipinos with convenient insurance products suited to their lifestyle needs,” bolttech Philippines General Manager Moritz Gastl said.
PayMaya is a unit of Voyager Innovations, Inc., which is the digital arm of PLDT, Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Keren Concepcion G. Valmonte
Toyota Motor Corp. cut its global car production target for November by around 15% from an earlier plan as a shortage of parts continues to weigh on the world’s No. 1 automaker.
The Japanese company had initially planned to make 1 million cars next month but now expects to do only around 850,000 to 900,000 units, it said in a statement Friday.
“Since we are still experiencing a shortage of some parts and will be unable to make up for previous production shortfalls, we have adjusted our initial production plans for November,” Toyota said. “This adjustment will affect approximately 50,000 units in Japan, and between 50,000 units and 100,000 units overseas.”
Toyota’s full-year production target of 9 million vehicles for the 12 months ending March 31, 2022 will be maintained however “due to the easing of restrictions on COVID-19 in Southeast Asia.” Smaller-than-expected production cuts in September and October also helped, it said.
“The worst period is over,” Kazunari Kumakura, the chief officer at Toyota’s purchasing group, said at a media briefing. “We’re seeing lower risks,” he said, although added as chip supply normalizes, supply and demand will remain tight.
Toyota, long lauded as one of the best in the business due to its just-in-time supply chain, has had a rough trot over the past few weeks. Last month, it said that power shortages in China were impacting output and it couldn’t provide further visibility as the situation is “still in flux.”
Earlier in September, Toyota trimmed its production outlook for this year by about 3% because the spread of coronavirus in Southeast Asia was disrupting access to semiconductors and other key parts. And this week, supplier Nippon Steel Corp. sought an injunction against the automaker to prevent it from manufacturing and selling electric and hybrid vehicles that use a type of steel critical for the performance of motors.
“In response to the continuing shortage of some parts, we will continue our efforts to strengthen our supply chain,” Toyota said on Friday. “We will implement thorough anti-COVID measures both at our own plants and at our suppliers, and since we expect the shortage of semiconductors to continue in the long term, we will consider the use of substitutes where possible.”
The November trim wasn’t that much of a surprise considering the environment, Bloomberg Intelligence analyst Tatsuo Yoshida said.
Toyota “was aiming for a very ambitious recovery, but the output won’t recover as much as originally planned,” he said. “Parts shortages and China’s power shortages still remain as risks.”
Shares in Toyota closed up 0.4% on Friday. They’ve risen 25% this year. — Bloomberg
MALAYSIAN investments registered with investment promotion agencies (IPA) reached $1.66 billion last year, according to the Department of Trade and Industry (DTI).
“From five major investments from Malaysia alone, IPA-approved investments between 2018 and 2020 is already valued at US $ 1.66 billion,” Rose Katrina V. Banzon, commercial attaché of Philippine Trade and Investment Center (PTIC)-Kuala Lumpur, was quoted as saying in an emailed statement on Friday.
PTIC Kuala Lumpur is the DTI’s representative office in Malaysia.
She said the PTIC-Kuala Lumpur, Board of Investments and Philippine Economic Zone Authority, among others, facilitated these investments.
DTI Secretary Ramon M. Lopez said Malaysia as a top trading partner and investment source fr the country, noting “strong” appetite among Malaysian investors despite the pandemic.
“In 2020, Malaysia ranked as the 10th trading partner of the Philippines, with balance of trade in the favor of Malaysia. In terms of investment, Malaysia was the 12th source of IPA-approved investments, registering a growth of 43.90% from previous year,” he said.
The Trade department said a Malaysian investment of $130 million was recently committed, adding that it covers some key sectors. It did not give further details.
Priority sectors of investments from Malaysia include manufacturing, agribuinsess, services, infrastructure projects, property development, construction services and energy. — A.Y. Yang
THE Philippine Exporters Confederation, Inc. (Philexport) is asking the Bureau of Customs (BoC) to expedite and simplify the application process of the ASEAN-Wide Self-Certification (AWSC) scheme to attract more participants.
The AWSC allows certified exporters belonging to ASEAN member nations to self-certify their products’ origins to avail of preferential tariffs under the ASEAN Trade in Goods Agreement.
Self-certified exporters are not required to secure a certificate of origin from the BoC for every shipment.
In a statement on Friday, Philexport said its Chairman George T. Barcelon described the self-certification process to be “complicated”, noting all traders accredited by the BoC should not have to go through another registration process.
The group quoted BoC Export Coordination Division (ECD) official Vanessa R. Hosana who earlier said registered exporters still need to receive ECD’s accreditation.
Once they get the authorization number, the traders can declare the origin of their products anytime, she said.
Meanwhile, Philexport vice president for advocacy, communications and special concerns Flordeliza C. Leong said the BoC should look at the low number of applications under the self-certification program, saying there are “recurring issues” in the accreditation process.
Philexport said the AWSC, which was implemented last year, lightens administrative burdens, allows the ease of doing business, and gives operational certainty to businesses. — A.Y. Yang
THE BAYUGAO Bridge along the national highway
in Ilocos Sur was among the infrastructure damaged by storm Maring. — ILOCOS SUR PPO
Severe tropical storm “Maring” (international name Kompasu) has caused P1.21 billion in agricultural damage and affected over 42,700 farmers and fisherfolk, according to the Department of Agriculture (DA).
In a bulletin posted on Friday afternoon, the department said the storm affected 61,234 hectares of farmland, resulting in volume losses of more than 68,800 metric tons.
Affected areas include the Cordillera Administrative Region, the Ilocos Region, Cagayan Valley, Central Luzon, Mimaropa, the Bicol Region, Western Visayas, Central Visayas, and Soccksargen.
Rice crop losses accounted for 80% of the damage at P967.1 million, equivalent to 55,763 metric tons (MT).
Damage to corn crops reached P131.1 million, with 7,971 MT lost.
Losses in high-value crops, which include assorted vegetables, bananas, and strawberries, hit P72.5 million, which translates to 5,157 MT of affected produce.
The DA said it is providing a quick response fund of P182 million to restore the affected areas, and is making available for distribution some P296 million worth of rice, corn, and assorted vegetable seeds.
It added it is also offering emergency loan assistance of up to P20,000, with zero interest and no collateral, payable in 10 years.
Separately, the Department of Energy (DoE) said all power generation plants in areas affected by Maring “are under normal operations.”
In an e-mailed statement on Friday, the Energy department assured that the Luzon and Visayas power grids have enough capacity to meet peak demand, as of Friday morning.
According to the DoE, the total estimated damage wrought by Maring on electric cooperatives has reached P2.32 million, with P1.69 million incurred by Beneco (Benguet Electric Cooperative, Inc.), as of Oct. 12.
SOLONS URGE RELEASE OF CRISIS FUNDS
Meanwhile, on Thursday house lawmakers urged the Department of Social Welfare and Development (DSWD) to immediately release crisis funds for victims of Typhoon Maring.
Solons from the Makabayan bloc, led by Gabriela Rep. Arlene D. Brosas, filed House Resolution 2296 calling for the DSWD to provide P10,000 in emergency cash aid under the Assistance to Individuals in Crisis Situation (AICS) Program to victims of the storm.
The AICS is a social safety net to support the recovery of families and individuals who had to deal with an unexpected crisis such as illness or death of a family member.
“The Department of Social Welfare and Development must hasten the release of its available funds to assist calamity-stricken families… amid the raging pandemic, high prices, and negligible government support especially to Filipino farmers,” says the resolution.
Maring, the 13th typhoon in the country this year, entered on Oct. 7 as a tropical depression. It absorbed the remnants of typhoon Nando and intensified into a severe tropical storm, packing winds of up to 100 kilometers per hour (km/h) and gustiness of up to 125 km/h. It exited the Philippine area of responsibility on Oct. 12. — Angelica Y. Yang and Russell Louis C. Ku
The Philippines will receive 1.96 million more doses of the AstraZeneca vaccine from Japan, Tokyo’s foreign affairs officials said on Friday.
This as the vaccination rate against coronavirus disease 2019 (COVID-19) in the National Capital Region (NCR) hit 79%.
The new batch of donated vaccines, which comes after Japan fulfilled its promise to give 1.12 million AstraZeneca doses to Manila, are expected to arrive in the Philippines this month, the Japanese embassy said in a statement.
“On the back of Japan’s comprehensive cooperation with the Philippines to beat COVID-19, this fresh initiative comes shortly after Japan fulfilled its first provision of 1.12 million AstraZeneca vaccine doses to the country last July,” it said.
“Also, outside of the COVAX facility, this latest provision makes Japan’s total bilateral contribution to the country’s vaccine stockpile reach more than three million doses, as of date,” it added.
Private companies are also doing their share by donating vaccines to LGUs.
Listed holdings firm GT Capital Holdings, Inc. Announced on Friday that it, along with its partners, recently donated 3,000 doses of AstraZeneca vaccines to the Makati City government.
GT Capital’s subsidiary Federal Land and Metrobank Foundation, Inc. participated in the initiative. Executives from GT Capital, Metrobank and officials turned over the vaccine doses to Makati City officials on Sept. 30.
Makati Mayor Mar-len Abigail S. Binay thanked the firms for their donation. “This is a collaborative effort between the private and public sectors for us to get back to normal… Because of this donation, we were able to jumpstart the receiving of vaccine donations from other companies as well,” she was quoted as saying.
The Philippines has so far received nearly 87.7 million doses of various brands of coronavirus vaccine since its vaccination program began in March.
The country, which scored poorly in a global index that measured the recovery of more than 100 countries from the coronavirus pandemic, is boosting its vaccination drive to reach its target of inoculating at least 50% of its adult population by year-end. The government aims to fully vaccinate 70% of the population by February next year.
So far, around 22% of the country’s population is fully vaccinated, the latest data from Johns Hopkins University showed.
NCR VAX RATE HITS 79%
Things are much better in the NCR as Metropolitan Manila Development Authority (MMDA) reported that 79% of eligible residents in the NCR have received their full doses of COVID-19 vaccines.
“As of Oct. 13,… those who had two doses is about 7.7 million or equivalent to 79.08% of the population of Metro Manila,” MMDA Chairman Benjamin “Benhur” de Castro Abalos, Jr. said during a virtual briefing on Friday.
He expects the NCR to hit vaccination rates of 88% by Nov. 13, and 95% by Jan 13,2022.
P48-M FOR VACCINATIONS IN MINDANAO
While the NCR’s vaccination rate is promising, other parts of the country are having a more difficult time, which is why the European Union has set aside €800,000 (over P47 million) to fund local government coronavirus vaccination programs in Mindanao.
The humanitarian aid will support organizations on the ground start vaccinations for 70,000 people in hard-to-reach areas in the region, the European External Action Service (EAAS) in Manila said in a press release on Friday.
These organizations will work to improve access to coronavirus disease 2019 (COVID-19) vaccines and support local government and health care authorities’ vaccination campaigns.
“The unprecedented surge in COVID-19 cases threatens the lives and livelihoods of many in the Philippines, especially those living in remote areas like Mindanao where access to medical care can sometimes be limited,” Commissioner for Crisis Management, Janez Lenarčič said.
“This funding from the EU will ensure vulnerable and marginalized people receive vital health support to go through this difficult time.”
Action Against Hunger, CARE International, and Oxfam International will also focus on improving hygiene practices and offer vaccine information in the 19 municipalities.
“Although the government plans to expand the vaccination rollout in the coming months outside of the capital, Manila, where most cases have been reported, the province [sic] of Mindanao is not listed amongst the priority regions,” EAAS said.
COVID COUNT
The Department of Health (DoH) on Friday reported 7,625 coronavirus cases, bringing the total to 2.7 million.
The death toll rose to 40,424 after 203 more patients died, while recoveries increased by 13,363 to 2.59 million, the DoH said in a bulletin.
The health agency said there were 78,999 active cases, 80.6% of which were mild, 6.4% were asymptomatic, 7.38% were moderate, 3.9% were severe, and 1.7% were critical.
The agency said 65 duplicates were removed from the tally, 46 of which were reclassified as recoveries. It added that 109 recoveries were reclassified as deaths. Three laboratories failed to submit data on Oct. 13. —Kyle Aristophere Atienza, Angelica Y. Yang, and Jenina Ibañez
Vice-President Maria Leonor “Leni” G. Robredo has named six more candidates in her senatorial slate, including former political foes of her allies, bringing the total up to 11. The 12th slot is still open.
Several of the new senatorial bets have also been chosen by other presidential aspirants for their own line ups of senatorial candidates.
In a press briefing on Friday, Ms. Robredo named senators Juan Miguel “Migz” F. Zubiri, Richard “Dick” J. Gordon, and Emmanuel Joel Villanueva as part of her senatorial ticket for the 2022 elections. Also on the list are former Vice-President Jejomar “Jojo” C. Binay, Sr., lawyer Alex Lacson, and former senator Francis “Chiz” G. Escudero.
The three incumbent senators were among the members of the upper chamber who ousted Senator Leila M. De Lima as chairperson of the Senate committee on justice and human rights. Ms. De Lima is also running for reelection as part of Ms. Robredo’s slate.
Mr. Gordon, who is now leading a Senate investigation into the government’s questionable pandemic deals, has been criticized by civil society for enabling President Rodrigo R. Duterte’s attacks against Ms. De Lima, who is still on trial for allegedly allowing the illegal drug trade to flourish in the country’s jails when she was Justice secretary.
Witnesses against Ms. De Lima, who was arrested while heading an investigation by a Senate panel into alleged atrocities committed during Mr. Duterte’s drug war, were drug convicts serving time at the national penitentiary in Muntinlupa City.
Meanwhile, when she was justice secretary, Ms. De Lima filed a complaint against Mr. Villanueva, alleging misuse of the Priority Development Assistance Fund.
OVP/Charlie Villega
Ms. Robredo also said former Vice-President Jejomar Binay will run for senator under her ticket.
The opposition leader’s top ally, Antonio F. Trillanes, was among the pre-Duterte era senators who led a months-long probe into alleged corrupt activities of Mr. Binay and his family. Political experts have said that the corruption allegations that hounded Mr. Binay weakened his 2016 presidential bid. Mr. Trillanes is also on Ms. Robredo’s senatorial slate.
Ms. Robredo said lawyer Alex Lacson, the senatorial bet of conservative political party Ang Kapatiran, is also included in her senatorial ticket, as is former senator Francis Escudero.
The tandem of Ms. Robredo and her running mate Sen. Francis “Kiko” Pangilinan earlier said Mr. Trillanes, Ms. De Lima, Sen. Risa Hontiveros-Baraquel, human rights lawyer Jose Manuel Tadeo “Chel” I. Diokno, and former congressman Teodoro “Teddy” B. Baguilat, Jr. would run for senator under her ticket.
Ms. Robredo said human rights activist Neri J. Colmenares and labor leader Joe Sonny G. Matula are among her camp’s top choices for the 12th spot in their Senate slate.
“’Yung number 12 gusto sana namin who will best represent the marginalized sectors,” she said. (We would like No. 12 to be someone who will best represent the marginalized sectors.)
“Linawin natin ang pangunahing layunin sa susunod na halalan: Ang magsulong, lalo na mula sa tuktok, ng isang pamahalaang matino, mahusay, makatao, at tunay na interes ng bayan lagi ang uunahin. Nagkakaisa po tayo sa layuning ito, at kaisa natin ang labing-isang pangalang inihain ko para sama-sama, tulong-tulong, makapagpanday tayo ng pagbabago. Ididiin ko ang ating pilosopiya: Ang pagiging bukas; ang pagpapalawak ng hanay ayon sa prinsipyo at pangarap para sa bansa,” Robredo said.
OVERLAPPING BETS
Five of Ms. Robredo’s senatorial candidates — namely Messrs. Zubiri, Gordon, Villanueva, Binay, and Escudero — were also endorsed by presidential candidates and incumbent senators Emmanuel “Manny” D. Pacquiao and Panfilo M. Lacson.
Antique Rep. Lorna Regina “Loren” B. Legarda was also picked by both Mr. Lacson and Mr. Pacquiao for their senatorial slates.
Mr. Pacquiao also endorsed the senatorial candidacies of Mr. Colmenares, labor leader Elmer Labog, former Eastern Samar Governor Lutgardo B. Barbo, and broadcast journalist Rafael T. Tulfo
Also on Friday, Mr. Lacson’s running mate, Sen. Vicente C. Sotto III, said their senatorial ticket includes Sen. Sherwin T. Gatchalian, former Quezon City mayor Herbert Constantine M. Bautista, former senators Joseph Victor “JV” G. Ejercito and Gregorio “Gringo” B. Honasan II, and former Agriculture secretary Emmanuel F. Piñol.
CRITICISM
In a statement, Mr. Colmenares said his exclusion from Ms. Robredo’s opposition slate is “based on what she thinks is best for the interest of her candidacy.”
“My resolve to run for the Senate is based on the need to give the poor and marginalized a strong voice in the legislature,” the former BayanMuna representative said. “We in Makabayan have always relied on the support of various groups and the people for progressive and pro-people independent candidates like me.”
He was referring to the Makabayan bloc in the House which is composed of lawmakers representing progressive party-list groups.
Ms. Robredo, chairperson of the Liberal Party, earlier said that her decision to run as an independent candidate is a symbolic way of showing that she is open to working with different political groups critical of the Duterte administration.
The Vice-President, who has criticized Mr. Duterte’s leadership style, is now under fire for excluding labor leaders and activists who have been critical of Mr. Duterte from the start of his term from her Senate slate.
“What does it say about building the broadest unity vs Duterte and (Ferdinand “Bongbong”) Marcos but excluding the forces that represent the marginalized sectors?” Bayan Secretary General Renato M. Reyes asked.
“In any case, we have not lost hope that unity can be achieved and Duterte and Marcos will be defeated.”
Progressive coalition Laban ng Masa said in a statement that “the platform and agenda of the working class and marginalized sectors should be at the forefront in every election.
“Traditional Philippine politics is the playground of the elite, landlords, billionaires and giant corporations. It is a game of numbers, popularity, bailiwicks and money, and it is within this framework that VP Leni Robredo has chosen her Senatorial slate,” the group said.
BAN SUBSTITUTION
Meanwhile, on Thursday, Makabayan lawmakers filed House Bill 10387 that would seek to ban candidate substitution by withdrawal.
It seeks to limit substitution to cases of a candidate’s death, permanent incapacity, or disqualification before election day.
The bill also proposed that any candidate who has shown or expressed that their position is as a placeholder, that this could be presented as evidence of lacking intention to run for office.
Commission on Elections (Comelec) Spokesperson James B. Jimenez on Wednesday said that the admission by a candidate that they had filed a certificate of candidacy to serve as a placeholder is not enough grounds for them to be declared a nuisance candidate.
Lakas-CMD secretary-general Prospero A. Pichay, Jr. admitted to reporters Monday evening that their party had fielded placeholders for president and vice-president as they still hoped that Davao City Mayor Sara Duterte-Carpio would agree to run for president.
Senator Ronald “Bato” M. dela Rosa, who filed to run for president under a faction of the PDP-Laban party, has also said he is ready to give up his slot to Ms. Carpio (who had filed for reelection as mayor in Davao) if she decides to join the presidential race.
A similar bill was filed by House Deputy Speaker Rufus B. Rodriguez on Wednesday.
OFW PROBLEMS
Meanwhile, Senator Imelda Josefa “Imee” R. Marcos said she is appealing to the Comelec to resolve registration issues for overseas Filipino workers (OFWs) voters.
“There’s been a deluge of complaints from OFWs who couldn’t register as voters. It’s not a problem that just came up suddenly these last few days,” she said in a statement on Friday.
She is asking the Comelec to allow OFWs to walk in and register. “We’ve been trying to contact the Comelec to help resolve the problem but have not been answered.”
“Our OFWs have a right to vote and should not be disenfranchised. Let’s give them due importance. They have always contributed to the national coffers,” she added, noting that there was still time to take action in favor of overseas workers. — Kyle Aristophere Atienza withreports from Alyssa Nicole O. Tan and Russell Louis C. Ku
OPPOSITION Senator Leila M. de Lima on Wednesday filed a bill requiring Senate concurrence in the abrogation, termination, or repeal of treaties and international agreements. This after the President Rodrigo R. Duterte unilaterally withdrew the country from the Rome Statute and the International Criminal Court (ICC).
The lawmaker proposed in Senate Bill 2436 that the concurrence of at least two-thirds of the upper house be required before any act of withdrawal from, or abrogation of, a treaty or an international agreement becomes effective.
“This bill aims to protect the interests of our people by making sure that the constitutional checks that are in place during our entry into treaties remain so during our withdrawal from the same,” Ms. De Lima said in a statement on Thursday.
She likened treaties to laws which need both executive and legislative action before being repealed, otherwise it would lead to an “absurd situation.”
“By requiring the concurrence of the legislature in the treaties entered into by the President, the Constitution ensures a healthy system of checks and balances necessary in the nation’s pursuit of political maturity and growth,” she added.
Ms. De Lima cited Former Associate Justice Antonio T. Carpio who earlier said that if “the Senate does not assert its prerogative to concur, it will lose its prerogative to concur.”
In 2018, petitions by opposition senators were filed after the president’s withdrawal from the treaties, she noted. Three years later, the high court said that a law may be passed to impose Senate concurrence as a condition prior to withdrawal from treaties. — Alyssa Nicole O. Tan
The National Basketball Association and Smart Communications, Inc. have partnered for the latter’s flagship program, School-in-a-Bag.
The National Basketball Association and Smart Communications, Inc. have partnered for the latter’s flagship program, School-in-a-Bag.
The partnership was announced on Friday and has the groups pushing for the program, which is designed to provide digital tools and content to support distance learning in public schools and communities across the Philippines.
Through NBA Cares, the league’s global social responsibility program, the NBA and Smart will assemble and distribute School-in-a-Bag packages to 20 schools across 16 cities and provinces in Luzon (Batanes, Benguet, Bulacan, Ifugao, Mountain Province, Nueva Ecija, Palawan, Pampanga, Pangasinan and Romblon), Visayas (Biliran and Siquijor) and Mindanao (Agusan del Norte, Misamis Occidental, Surigao del Norte and Zamboanga del Norte).
The National Basketball Association and Smart Communications, Inc. have partnered for the latter’s flagship program, School-in-a-Bag.
Each package will include a Smart LTE Pocket WiFi, laptop and tablets, both of which will have preinstalled educational content including Smart’s proprietary #LearnSmart apps, featuring alphabet and number exercises, short stories, and games in native languages and dialects. The bags will also feature NBA-branded baller bands and notebooks.
“Education in the Philippines has changed dramatically as schools across the country continue engaging with students remotely,” said NBA Asia Managing Director Scott Levy at the partnership’s announcement. “Through NBA Cares, we’re proud to support our valued partner Smart and their School-in-a-Bag program, which delivers an innovative and sustainable approach to enhancing the distance learning experience for Filipino youth.”
“The Smart School-in-a-Bag is our way to provide students and teachers access to the wealth of knowledge through digital learning tools, so that no learner is left behind,” said Alfredo S. Panlilio, President and CEO of Smart. “Our collaboration with the NBA allows us to give more children in remote communities more opportunities to pursue their passion and purpose, and a fighting chance for a better future.”
The program is also in line with Smart and its partners’ commitment to the United Nations’ 17 Sustainable Development Goals, particularly providing access to quality education in the country.
The collaboration builds on Smart and the NBA’s existing partnership in the Philippines to operate NBA.com/Philippines (the official online NBA destination in the Philippines), distribute NBA League Pass (the league’s premium live game subscription service), and livestream NBA TV Philippines (a localized version of NBA TV – the league’s dedicated 24/7 channel) through its newly launched video streaming app, GigaPlay.
The San Miguel Beermen forced the TnT Tropang Giga to a rubber match in their best-of-seven PBA Philippine Cup semifinal series after taking Game Six, 103-90, on Friday. -- PBA Images
The best-of-seven PBA Philippine Cup semifinal series between the San Miguel Beermen and TnT Tropang Giga is going the full route after the former levelled the count at three games a piece with a 103-90 win in Game Six on Friday at the Don Honorio Ventura State University Gym in Bacolor, Pampanga.
San Miguel used a strong run in the middle quarters, where it outscored TnT, 59-41, to create a considerable distance which the Tropang Giga just could not overhaul.
TnT made a spirited fight-back in the fourth period, trimming its deficit to just 10 points, 98-88, with 2:44 to go in the game but could not come closer beyond that as San Miguel went for the closeout after.
Mo Tautuaa led the way for the Beermen in the win, finishing with 24 points, followed by Marcio Lassiter and Terrence Romeo, who had 19 and 16 points, respectively.
Arwind Santos and June Mar Fajardo each had a double-double, with Mr. Santos tallying 13 points and 10 rebounds while Mr. Fajardo had 11 and 14.
For TnT, it was veteran Jayson Castro who top-scored with 16 points. Roger Pogoy struggled anew in the series, ending up with just six points on 2-of-10 shooting.
Heading into the rubber match, which is set for Sunday, the Beermen said they like their chances owing to their experience in such matches.
“I think we have the experience in playing Game Sevens. But we have to build on the momentum that we got here because TnT is a strong team,” Mr. Lassiter said in the post-game press conference.
The winner of the San Miguel-TnT series takes on the victor in the other semifinal bracket between the Magnolia Pambansang Manok Hotshots and Meralco Bolts.
Magnolia, which was leading the series, 3-2, was looking to go for the knockout in Game Six of the series later on Friday while Meralco was angling for a sudden-death match for the series. — Michael Angelo S. Murillo
THE BANGKO SENTRAL ng Pilipinas (BSP) made a full award of the short-term securities it offered Friday its average rate dipped on the back of the peso’s climb.
The central bank awarded P100 billion in 28-day bills out of P139.05 billion in bids. However, this was lower than the P147.84 billion in tenders seen a week earlier.
Banks asked for yields between 1.7425% and 1.8%, a narrower range compared to last week’s 1.74% and 1.825%. This brought the average rate of the one-month securities to 1.77642%, lower than 1.7832% previously.
The BSP bills and the term deposit facility are used by the central bank to mop up excess liquidity in the financial system and guide market rates.
“The auction results continue to reflect stable market conditions as liquidity in the financial system remain ample. Moving ahead, the BSP’s monetary operations will remain guided by its latest assessment of the liquidity conditions and market developments,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.
Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that the BSP securities’ average yield was slightly lower on the back of the peso’s strength versus the dollar.
“BSP 28-day securities auction yield also eased on improved market sentiment after NCR’s (National Capital Region) Alert Level was eased to 3 (from 4) and some businesses were allowed to resume operations or operate at higher capacity, thereby further reopening the economy,” he said.
The peso appreciated on Thursday after the government relaxed mobility restrictions in the capital. The local unit closed at P50.605 per dollar, appreciating by five centavos its P50.655 finish on Wednesday.
Mr. Ricafort also noted a downward correction in the US and global interest rates after US President Joe Biden on Thursday signed a bill raising the country’s debt limit to $28.9 trillion. This delayed the risk of default until early December, Reuters reported. — J.P. Ibañez with Reuters
