NFL Roundup: Cardinals win on last-second Hail Mary

November 16, 2020 | 5:05 pm

DEANDRE Hopkins caught a 43-yard scoring pass from Kyler Murray with two seconds remaining to give the Arizona Cardinals a stunning 32-30 victory over the Buffalo Bills on Sunday in Glendale, Ariz.

Murray scrambled to his left and heaved the ball into the end zone. Hopkins made a leaping grab while surrounded by three defenders.

Murray threw for 245 yards and one touchdown and rushed for 61 yards and two more scores on 11 carries. He became the fourth quarterback in NFL history to score a rushing touchdown in five consecutive games. Hopkins finished with 127 receiving yards on seven catches. Kenyon Drake added 100 rushing yards on 16 carries for the Cardinals (6-3).

Josh Allen threw a 21-yard scoring pass to Stefon Diggs with 34 seconds remaining to put Buffalo on top prior to the Cardinals’ Hail Mary pass. Allen threw for 284 yards and two touchdowns with two interceptions. He also led his team with 38 rushing yards on seven carries and caught a touchdown pass.

SAINTS 27, 49ERS 13
Alvin Kamara scored three touchdowns and host New Orleans overcame the loss of Drew Brees to defeat San Francisco.

Kamara rushed for two touchdowns and caught Brees’ final pass of the game for a second-quarter touchdown as the Saints (7-2) won their sixth consecutive game. Brees did not play in the second half because of a rib injury; Jameis Winston and Taysom Hill played in his place.

Nick Mullens made his fifth start in place of injured Jimmy Garropolo (ankle) for the 49ers (4-6) and completed 24 of 38 passes for 247 yards with one touchdown and two interceptions.

BUCCANEERS 46, PANTHERS 23
Tom Brady threw for three touchdowns and scored on a run, and running back Ronald Jones II burst free for a 98-yard touchdown scamper as visiting Tampa Bay bounced back for a victory against Carolina in Charlotte, NC.

The Buccaneers (7-3), who racked up 544 yards of total offense, swept the season series from Carolina, both times following a loss to the New Orleans Saints. Brady, who was coming off one of the worst performances of his 21-year career, was 28-for-39 for 341 yards.

The Panthers (3-7) lost their fifth consecutive game despite quarterback Teddy Bridgewater’s two touchdown passes. He was 18-for-24 for 136 yards and an interception before exiting with a knee injury on a fourth-quarter sack with about five minutes left.

DOLPHINS 29, CHARGERS 21
Tua Tagovailoa tossed two touchdowns and improved to 3-0 as a starter in leading host Miami past Los Angeles.

Miami (6-3) won its fifth straight game as Tagovailoa completed 15 of 25 passes for 169 yards and no interceptions. Tagovailoa outdueled fellow rookie quarterback Justin Herbert, who was selected sixth in the 2020 NFL Draft — one spot after Tagovailoa.

The Chargers (2-7) are in last place in the AFC West, and Herbert is 1-7 as a starter. Herbert completed 20 of 32 passes for 187 yards, two touchdowns and one interception.

RAMS 23, SEAHAWKS 16
Malcolm Brown rushed for two touchdowns as Los Angeles moved into a three-way tie for first place in the NFC West with a victory against visiting Seattle in Inglewood, California.

The Rams (6-3) pulled even with the Seahawks (6-3), who have lost three of their past four games, and the Arizona Cardinals (6-3), who defeated the Buffalo Bills.

The Rams held Seattle to a season low in points. The Seahawks had scored more than 30 points in seven of their previous eight games, with 27 their low before Sunday.

PACKERS 24, JAGUARS 20
Aaron Rodgers threw for two touchdowns and ran for another to help host Green Bay defeat pesky Jacksonville at Lambeau Field.

Marquez Valdes-Scantling and Davante Adams had scoring receptions for the Packers (7-2), who lead the NFC North. Rodgers finished 24 of 34 for 325 yards and one interception, his third of the season.

Keelan Cole Sr. returned a punt 91 yards for a score as the Jaguars (1-8) suffered an eighth straight loss. Jacksonville rookie Jake Luton, making his second career start in place of injured Gardner Minshew II (thumb), was 18 of 35 for 169 yards, with one touchdown and one interception in mid-30-degree weather.

STEELERS 36, BENGALS 10
Ben Roethlisberger passed for a season-best 333 yards, including four touchdowns, as Pittsburgh remained undefeated by routing visiting Cincinnati.

While the Steelers’ run game sputtered, totaling only 44 yards, Roethlisberger was 27 of 46 with scoring passes to rookie Chase Claypool (two), Diontae Johnson and JuJu Smith-Schuster. Pittsburgh (9-0) was not assured Roethlisberger would be available until Saturday because of COVID-19 contact tracing protocol.

For Cincinnati (2-6-1), rookie quarterback Joe Burrow was 21 of 40 for 213 yards with a touchdown pass to Tee Higgins. Burrow played much of the game on what appeared to be a sore left ankle. The Bengals went 0-for-13 on third-down chances.

RAIDERS 37, BRONCOS 12
Josh Jacobs rushed for 112 yards and two touchdowns and Jeff Heath intercepted two passes as host Las Vegas forced five turnovers en route to its third straight victory over Denver.

It was the second 100-yard rushing game in the last three, and seventh in 22 career games for Jacobs. Las Vegas (6-3) closed to within two games of first-place Kansas City in the AFC West.

Derek Carr completed 16 of 25 passes for 154 yards, Daniel Carlson added three field goals and Devontae Booker added two fourth-quarter touchdown runs for the Raiders. Drew Lock completed 23 of 47 passes for 257 yards and a touchdown but was intercepted four times for Denver (3-6).

BROWNS 10, TEXANS 7
Nick Chubb and Kareem Hunt combined for 230 yards on the ground and Cleveland slugged out a victory over visiting Houston.

Chubb and Hunt recorded 19 attempts each against the Texans’ 32^nd-ranked run defense. After Houston (2-7) closed to within three points on a 16-yard touchdown pass from Deshaun Watson to Pharaoh Brown with 4:59 remaining, Chubb sealed the win with a 59-yard, third-down run to the Houston 1, wisely running out of bounds so that Cleveland could exhaust the game clock.

Chubb rushed for 126 yards in his first action since Week 4 due to a knee injury. Hunt added 104 yards for the Browns (6-3). Watson finished 20 of 30 for 163 yards and a touchdown. He was sacked twice. The Texans totaled only 243 yards.

GIANTS 27, EAGLES 17
Daniel Jones threw for 244 yards and rushed for a touchdown as New York tightened up the NFC East race with a win over Philadelphia at MetLife Stadium in East Rutherford, NJ.

Jones completed 21 of 28 passes with no interceptions, marking the first time in his two-year career he has played consecutive games with no turnovers. Wayne Gallman added two short touchdown runs as New York (3-7) enters its bye week with consecutive wins.

Carson Wentz hit on 21 of 37 passes for 208 yards with no touchdowns or interceptions as Philadelphia failed to convert a single third down (0 for 9). The Eagles (3-5-1) still sit atop the division but have a challenging schedule ahead.

LIONS 30, WASHINGTON 27
Matt Prater drilled a 59-yard field goal as time expired and Detroit posted its first home win after squandering a 21-point lead, edging Washington.

Matthew Stafford passed for 276 yards and three touchdowns for the Lions (4-5), while Marvin Jones caught eight passes for 96 yards and a touchdown. D’Andre Swift had a combined 149 yards from scrimmage and hauled in one of Stafford’s scoring tosses.

Alex Smith threw for 390 yards for Washington (2-7), while Antonio Gibson rushed for 45 yards and two scores. — Reuters

Hamilton takes seventh title with Turkish triumph

November 16, 2020 | 5:04 pm

ISTANBUL — Britain’s Lewis Hamilton shed tears of joy as he won a record-equalling seventh Formula One world championship in Turkey on Sunday and became the most successful driver in the sport’s history.

The Mercedes ace put on a masterclass in wet and slippery conditions to take a record-stretching 94^th career win at the Istanbul Park circuit and secure the title with three races to spare.

Ferrari great Michael Schumacher is the only other driver with seven titles to his name, a number once thought unlikely to be matched, but most of the German’s records have passed to Hamilton.

So crushing was the win that Hamilton lapped sole rival and team mate Valtteri Bottas with 12 laps to go. The Finn, who had to finish at least sixth, spun repeatedly and ended up 14^th.

Hamilton already had more race wins, pole positions and podium finishes than anyone in the history of the sport but, despite starting a season-low sixth, the 35-year-old was determined to add to the tally.

“That’s for all the kids out there who dream the impossible. You can do it too man, I believe in you guys,” he whooped over the radio after taking the chequered flag.

The Briton finished 31.6 seconds clear of Racing Point’s second-placed Mexican Sergio Perez, after passing him with 22 laps to go, in a race run behind closed doors due to the COVID-19 pandemic.

“Seven is just unimaginable, but when you work with such a great group of people and you really trust each other, there is just no end to what we can do together,” said Hamilton, who has yet to sign a new deal for 2021 but is set to stay.

“I feel like I’m only just getting started.”

Hamilton’s 10^th victory of 2020, and fourth in a row, took his points tally to an insurmountable 307 with Bottas on 197.

THE GREATEST
Hamilton was congratulated after parking up by Perez, who still has no seat for 2021, and Ferrari’s Sebastian Vettel who completed the podium in a race full of spins and changes of lead.

“I told him that it was very special for us because we can witness history being made today,” said Vettel, a four-times world champion with Red Bull and on the podium for the first time this year.

“There is no doubt Lewis is the greatest in terms of what he has achieved.”

Bottas, who said over the radio four laps from the end that he wished the race was already finished, also went across to shake the hand of a man who won his first title with McLaren in 2008 and then Mercedes in 2014, 2015, 2017, 2018 and 2019.

Mercedes had already won the constructors’ championship for a seventh year in a row, an unprecedented feat.

While Perez started third and eked out his intermediate tires for 48 laps, Canadian team mate Lance Stroll saw his dreams of a first win disappear after leading from his first pole position.

He finished ninth, the slide down the order starting when he pitted on lap 36, but the team moved up to third overall in the constructors’ standings.

Ferrari’s Charles Leclerc was fourth, after passing Perez on the last lap for second but then sliding wide, with Spaniard Carlos Sainz fifth for McLaren and Red Bull’s Max Verstappen sixth.

Red Bull’s Alexander Albon was seventh — after also leading early on — with Lando Norris eighth for McLaren and taking a bonus point for the fastest lap.

Australian Daniel Ricciardo was 10^th for Renault, who fell from third to fifth.

Hamilton said there was a point where he thought the race was slipping away from him, and the leaden skies and constant threat of rain added to the sense of uncertainty, but he kept believing.

When the team suggested he pit for fresh tires towards the end, given the safety of his lead and the amount of laps done on the worn intermediates, he over-ruled them.

“I lost a world championship in the pit-lane, I learned my lesson from 2007, that’s for sure. I felt like I really had it under control and I was going to deal with the rain if it dropped,” he said. — Reuters

Putting the cancer game plan into action

November 16, 2020 | 3:24 pm

It was a game-changer when President Rodrigo R.Duterte signed the National Integrated Cancer Control Act (NICCA) or Republic Act 11215. The law was a landmark achievement in the fight against cancer as it aims to strengthen cancer control in the country, increase cancer survivorship and reduce burden on families and cancer patients.

Alongside the Universal Healthcare Law (UHC), NICCA puts the country one step ahead of the fight towards providing accessible, equitable, sustainable, and affordable cancer care treatment for all. But what does that look like on the ground? How exactly is the Philippines putting this into action?

BusinessWorld Insights and Hope From Within aimed to paint a clearer picture with an inclusive discussion themed: “Cancer Game Plan (CGP) 2.0: Putting the Game Plan into Action”, which gathered some of the country’s top cancer experts and cancer care advocates.

“Locally, there are over 140,000 Filipinos were diagnosed with cancer in 2018, with around 86,000 deaths. These are alarming numbers. This means that 200 or more people are dying daily because of cancer. The limited resources, poverty rate, pronounced inequity in terms of access to cancer care services, and the overwhelming out-of-pocket expenses also continue to increase the burden of affected patients and their families,” Dr. Buenaventura Ramos Jr., president of Philippine Society of Medical Oncology, said.

He added that NICCA has provisions that include the creation of the Philippine Cancer Center to promote and encourage cancer research, provide training to medical professionals, and house the population-based cancer registry. It also mandated the creation of a Cancer Assistance Fund and the National Integrated Cancer Control Council, a multi-sectoral and multi-stakeholder body that will act as the policy-making, planning and coordinating body on cancer control, headed by the Secretary of Health.

NICCA also states that PhilHealth will expand its benefit packages to include primary care screening, detection, diagnosis, treatment assistance, supportive care, survivorship follow-up care, rehabilitation, and end-of-life care for all types and stages of cancer in both adults and children. Cancer will become a notifiable disease and hospitals (both public and private) will be required to have a hospital-based cancer registry as a prerequisite for licensing.

“With the statistics that I mentioned, sooner or later cancer may come to someone you know. Then it would affect your everyday life. Cancer treatment can be very expensive. And you would need all the help from the government,” Dr. Ramos said.

Nina Corpuz, Hope From Within’s Cancer Game Plan ambassador, emphasized the need for a Cancer Game Plan that is a multi-stakeholder advocacy that aims to raise awareness towards initiatives that can help strengthen cancer prevention and control in the Philippines.

“A strong and involved voice along with public and private stakeholders that are willing to listen and really put this into action. We need this voice to shape the development of cancer programs as well as to strengthen and empower the LGUs to contribute in the process that can make the implementation more efficient, faster, and more beneficial to the stakeholders in the health system,” she said.

Sharing his perspectives, Ivan Arota from AC Health said that the private sector are key drivers in the innovation of new treatments and medical breakthroughs that can further cancer prevention, control, and healthcare access in the country.

“Our vision is to build an integrated healthcare ecosystem, providing accessible, affordable, quality healthcare to one in five Filipinos by 2030,” Mr. Arota said.

AC Health has announced that it will build the first dedicated private cancer hospital in the Philippines, that will cater to a broader base of Filipinos. The group aims to be a world-class facility and is working with top oncologists to deliver quality treatment for cancer patients, including chemotherapy, radiation therapy, immunotherapy, surgery, and diagnostics.

While all of these are being implemented, however, Hope From Within Ambassadors Tirso Cruz III, Ariella Arida, and MarloMortel encouraged Filipinos to be mindful of their own and their families’ health by taking regular screenings, and becoming pillars of support for patients who need them.

“Don’t fear going to the hospital. It’s a win-win for everybody. Trust your doctor. People think that cancer is a death sentence, but that’s not true. The earlier you detect cancer, the bigger your chances of survival,” Mr. Cruz said. “I’m living proof that early detection can save your life.”

Ms. Arida stressed the importance of community for cancer patients. “No one should fight cancer alone. For all caregivers, we should be the first ones to understand them. In this challenging time, they should know that we are here for them,” she said.

Filipinos, they added, should come together to win the fight against the dreaded disease.

“Instead of asking ourselves, ‘Why does this happen?’, let’s ask better questions. What can we do for their cancer journey to have a happy ending? As much as we can, let’s fight their fight. We’re all in this together,” Mr. Mortel added.

Philippine mall titan quickens shift to China-style mixed retail

November 16, 2020 | 11:59 am

SM Investments Corp., the owner of the Philippines’ largest mall operator, is speeding up efforts to develop “omni-channel” options for shoppers as people shift to a mix of online and in-store purchases amid the coronavirus pandemic.

The group is tapping personal shoppers, ramping up delivery and pick-up services, and boosting its online presence, said Steven Tan, president of SM Prime’s mall unit. Last month, the group started operating a virtual mall for Manila residents, which it plans to roll out nationwide soon, he said.

“You have to be present in all channels,” Mr. Tan, 51, said in a virtual interview on Friday. “Retail is all about listening to your customers and moving so fast,” said Mr. Tan.

The group founded by the late Filipino billionaire Henry Sy is adopting the “omni-channel” retailing approach seen in China, where people shop both online and at malls, he said. Although malls need to keep up with changing times, they won’t go out of style, Mr. Tan said.

SM has 75 shopping centers in the Philippines and eight in China. It is opening another in its home country this quarter and about five are planned for next year, he said.

Transactions through social-media channels account for about 11% of sales at SM department stores, Timothy Daniels of SM Investments said at the interview.

“There is no plan to slow down the general retail strategy,” said Mr. Daniels, SM’s investor relations consultant.

Filipinos are returning to malls as virus quarantine curbs ease but shopping habits may have changed, Mr. Tan said. People visiting malls are those purposely buying and not just window shopping, he said, forecasting that by the third quarter of next year, sales of tenants at SM malls will be back at end-2019 levels.

Sales of SM shopping center occupants are at 60% to 70% of pre-pandemic levels, up from about 20% in the early months of Philippines’ reopening in May and June after a two-month lockdown, he said. Foot traffic is about 40% of what it was before the coronavirus. SM plans to gradually restore rents in 2021 after waiving most of the tenant fees this year, Mr. Tan said.

Swedish furniture retailer Ikea will open its store in SM’s Mall of Asia by the third quarter of next year, Mr. Tan said.

SM Group introduced 250 small-format outlets including Alfamart stores this year and plans to open more, Mr. Daniels said. The company’s malls are expanding al fresco dining and lounges to cater for the virus-driven trend toward bigger, open spaces, said Mr. Tan.

Mr. Tan joined the company in 2004 when fashion made up 70%–80% of tenants and restaurants were less than 5%. Food now accounts for 30% of SM mall occupants, services about 15%, and fashion is below 50%. — Bloomberg

SM blood donation drive nets over 1,000 bags

November 16, 2020 | 11:35 am

The need for blood transfusion did not stop even during the lockdown mandated by the government. Blood supplies were running low in blood banks and requests for blood were in demand for patients’ emergency needs.

While the COVID-19 pandemic put on hold some scheduled blood-letting activities of SM Foundation, the social good arm of the SM Group still managed to collect 1,115 bags of blood as of October 12, 2020, which will benefit 3,345 patients – one bag benefitting three patients when processed.

Usually executed in SMDC Residences and in SM Mall branches, the social responsibility program is executed in close collaboration with the Department of Health-Philippine Blood Center (DOH-PBC) and the Philippine Red Cross.

The social good arm of the SM group untiringly reminds its employees and stakeholders that each blood donation drive stretches beyond blood donation. That by donating blood, they become an extension, not only just for themselves but for others.

Since the inception of the program in 2011, stakeholders especially those in grassroots communities have benefitted from the SM Group’s Virtual Blood Bank.

SM is the first organization to establish a Virtual Blood Bank. What made it more special is that most of the blood are donated by SM Employees.

The establishment of the blood bank was provided for in a memorandum of agreement between SM Foundation and the Philippine Blood Center to lessen dependence on paid blood donations from commercial blood banks. With it, exposure of recipients to diseases transmitted through blood transfusion like HIV-AIDS and hepatitis, among others, is prevented.

Employees from SM Group of Companies participate in scheduled mass blood donations spearheaded by SM Foundation Health and Medical Programs in collaboration with the SM medical services.

Banked blood has helped numerous SM employees and their families. It has also benefitted patients in government hospitals where wards are adopted by SM Foundation and hospitals that host FelicidadSy Wellness Centers.

One blood bank recipient is Marissa Araiz—a patient at the Quirino Memorial Medical Center who needed a blood transfusion for her ovarian operation. With the operation scheduled at 7:00 a.m the following day, her daughter, Reece Ann Araiz spent the night looking for blood donors. She recounted with gratitude that SM Foundation generously responded even in the call for help came in the middle of the night through the Health & Wellness Program of SMFI. By 2:00 a.m. she was able to secure the needed blood for her mother.

SM Foundation, through its Health and Wellness Program, upgrades public health centers in its host communities, complemented by its medical caravans across the country. To date, it has renovated more than 160 health and wellness centers and served more than 1 million patients during its medical missions.

[B-SIDE Podcast] Selling it: Lessons in cross-border e-commerce

November 16, 2020 | 11:08 am

Anchanto, a Singapore-based automation and logistics platform, projects that cross-border e-commerce in the Asia-Pacific region will grow to US$ 1.5 trillion by 2023. The Southeast Asian market—which has the highest number of young people with Internet access—is expected to account for 40% of this trajectory.

Vaibhav Dabhade, founder and CEO of Anchanto, tells BusinessWorld reporter Patricia B. Mirasol how local micro, small, and medium enterprises or (MSMEs) can compete against established brands in the online marketplace.

“You are one product out of millions,” Mr. Dabhade said. “Unless and until you optimize your catalog, unless and until you create specific marketing campaigns, your chances of getting visible without effort is almost zero.”

TAKEAWAYS

Cross-border sellers have to adopt local payment methods.

Cross-border e-commerce has been here for more than 15 years, with Alibaba being the pioneer. Buyers used to pay for their purchases upfront before Lazada pioneered the cash-on-delivery (COD) model. COD has propelled acceptance of cross-border e-commerce in Southeast Asia.

Marketplaces are creating models to minimize the impact of last-mile delivery costs.

Business has been challenged with the heavy cost of last-mile delivery amid the pandemic. According to Mr. Dabhade, limited flights have tripled the cost of shipping from the UK to Malaysia as of October 2020. To minimize the impact of such costs, companies and marketplaces are delivering products via the postal system, which is slower but cheaper.

MSMEs need structural support.

Mr. Dabhade cited Singapore and South Korea as countries that can be used as models: Singapore provides access to consultants in content, marketing, and pricing while South Korea identifies organizations with global infrastructure that can help MSMEs sell their products overseas.

This level of support is vital because MSMEs get excited about the prospect of e-commerce only to get demotivated after months without sales. “You are one product out of millions,” said Mr. Dabhade. “Unless and until you optimize your catalog, unless and until you create specific marketing campaigns, your chances of getting visible without effort is almost zero.”

Philippine import and export guidelines remain unclear.

“The Philippine market is very similar to India,” Mr. Dabhade said. “Import and export is difficult… cargo is stuck at customs so sellers get despondent.”

The Filipino diaspora is a market just waiting to be tapped.

Wherever there are Filipinos, there are stores selling Philippine-made products. These products can be optimized, but there is no structure for this as of yet, said Mr. Dabhade.

Study the market you’re planning to serve.

Entrepreneurs need to spend time to understand the main commerce restrictions of each country they plan to serve.

Anchanto had a client whose skincare product description included the line: “Tested on Asian skin.” The product, which was shipped to Canada, got stuck in customs because the language was deemed borderline discriminatory. Knowing what’s acceptable and what’s not per region will prevent your products from getting flagged at the outset, said Mr. Dabhade.

Other tips he offered are: choosing a strong payment gateway; and making the fulfillment terms and conditions clear to minimize fraudulent transactions.

Recorded remotely on October 14. Produced by Nina M. Diaz, Paolo L. Lopez, and Sam L. Marcelo.

Empowering urban communities through farming

November 16, 2020 | 1:00 am

SM Foundation’s Kabalikat sa Kabuhayan opens opportunities for urban dwellers amid COVID-19

Even with limited space, urban dwellers can plant and grow their own food. Not only will they get to harvest vegetables and fruits right from their backyards, they can even sell some and get additional income.

When Hiyasmin Baling and her husband Gabriel Balsa learned urban farming through the Kabalikat sa Kabuhayan (KSK) on Sustainable Agriculture of SM Foundation, Inc. (SMFI), they found an opportunity to earn in spite of the disruptive pandemic.

Ms. Baling ran a beauty parlor, which served as the household’s source of income before COVID-19 hit the country. When the lockdown was imposed, however, Ms. Baling and her husband decided to focus on planting to keep their finances afloat. In their home in Antipolo, Rizal, they transformed their rooftop into a full-blown garden of vegetables, fruits, and ornamental plants.

As the couple applied the skills and knowledge learned from the KSK training program they were able to harvest and sell quality produce. In fact, they have earned P10,000 from selling strawberry plants alone.

“SM Foundation’s KSK program really helped our family, especially during the pandemic. The farming technologies that we learned during the training gave us an alternative livelihood especially now that our primary source of income is not operational,” Ms. Baling shared.

KSK farmer graduate Hiyasmin Baling (L) uses her learnings from the program to augment their family income during the pandemic.

This Farmer’s Training program is just one of the facets of KSK, SMFI’s program on sustainable agriculture. Launched in 2006, KSK aims to uplift the lives of Filipinos in grassroot communities through sustainable agriculture by means of technology transfer, product development, and farm-market linkage. Furthermore, the program aims to address food security as well as to promote good agricultural practices in communities.

“Our goal is to transfer modern and science-based agri-technologies skillsets to our farmers. After equipping them with modern agritech skills and knowledge, we link them (small- and medium-scale farmers) to available market,” Cristie Angeles, Assistant Vice-President for Outreach Programs at SMFI, shared in an e-mail interview with BusinessWorld.

“Aside from increasing our farmers’ income because of better produce, we were also able to help in ensuring food availability to families — specially in grassroot areas with limited spaces. By equipping them with knowledge on urban farming, we are able to augment the nutritional needs of families specially in urban communities,” Ms. Angeles added.

“To strengthen community involvement, KSK adopts a ‘Big Brother and Small Brother’ strategy, where farm schools and learning sites act as big brothers to smaller farmers in the community. By using this strategy, volunteerism is also promoted in the community through on-site mentoring sessions of the established farmers to the smaller ‘agripreneurs’,” said Ms. Angeles.

In selecting the beneficiaries of the program, SMFI usually includes beneficiaries of Pantawid Pamilyang Pilipino Program (4Ps) and indigent residents identified by community leaders where each KSK is implemented. To further strengthen the effectivity of the program, SMFI forged a partnership with the Department of Agriculture (DA), Department of Social Welfare and Development (DSWD), and local government units. These government agencies provide additional support to the KSK participants like lending idle lands where they can begin their communal gardening. Produce planted by the participants are then sold within the barangay.

KSK also strengthened its institutional partnerships by collaborating with the Technical Education and Skills Development Authority (TESDA), SM Supermalls, SMDC and SM Markets.

Through these collaborations, TESDA integrated scholarships for Organic Crops NCII and Agricrops NCIII certifications — which were granted to 271 KSK farmer-participants in Sta. Ana, Floridablanca, and Porac in Pampanga; Olongapo City and Botolan in Zambales; and Bamban in Tarlac.

While through the different business groups of SM, SMFI was able to create farm-market linkage through the Good Guys Market and the Green Lane Initiative.

The Good Guys Market is a weekend market set up in SMDC properties to connect small-scale farmers directly with consumers — condo residents. This initiative links around 26,000 small-scale farmers directly with consumers.

The Green Lane initiative, on the other hand, which was piloted at SM City Pampanga offers a wide variety of quality yet affordable indoor plants, landscape plants, and flowers which cater to every plant parents’ preference in the home improvement project. Led by the wives of the KSK farmers, this social enterprise concept is set to be replicated in other SM malls to cater to more “plantitos” and “plantitas” nationwide.

“During the lockdown, produce from the demo farms were shared by the partner schools to their communities. Farmers were also able to sell to SM employees, and they were able to participate in mall activities such as those [catering to] plantitos and plantitas,” Ms. Angeles added.

More recently, SMFI’s KSK program embarked on bringing its training to urban areas through an urban gardening program, benefitting the cities of Pasig, Mandaluyong, Manila, Quezon, Pasay, Muntinlupa, and Taguig.

In Taguig, particularly, KSK’s 12-week long program served 133 participants from Barangay Ususan, all of whom are beneficiaries of the 4Ps. One of them is Jamiliah Bationg, a 42-year-old housewife, who found the training to be a great help to 4Ps beneficiaries like her. As she cultivates vegetables in container pots at her home, she no longer has to buy fresh produce, hence saving money for her family’s other needs.

In addition, Ms. Angeles observed that KSK participants are greatly helped by the training imparted to them by SMFI as the COVID-19 crisis has put their enhanced skills to the test.

“It is nice to know that during the pandemic, participants were able to appreciate the program more,” she said. “[It’s nice to see that] some were even enterprising enough that they were able to make and sell fertilizers and vegetables. Participants also shared their produce with the underprivileged.”

As of 2019, the KSK covered almost 3,360 barangays coming from over 880 cities and municipalities, bringing sustainable agriculture and farming skills to more than 26,700 farmers in both rural and urban communities. — Adrian Paul B. Conoza

Analysts’ expectations on policy rates (Nov. 19)

November 16, 2020 | 12:33 am

BENCHMARK policy rates will likely be maintained by the Bangko Sentral ng Pilipinas (BSP) on Thursday, with the financial system seeing excess liquidity and an anticipated pickup in state spending, according to analysts. Read the full story.

BSP to pause rate cuts for now — poll

November 16, 2020 | 12:33 am

By Luz Wendy T. Noble, Reporter

Some analysts, however, pointed to the sluggish pace of recovery and benign inflation as signs there is still room for the central bank to further cut rates.

In a BusinessWorld poll held last week, 11 out of 16 analysts said the Monetary Board (MB) will likely continue the “prudent pause” at its sixth policy meeting on Nov. 19.

The central bank may consider the difficulty of unwinding “excessive” monetary easing once recovery starts, said Bank of the Philippine Islands Lead Economist Emilio S. Neri, Jr.

BSP Governor Benjamin E. Diokno has vowed to carefully assess the timing of the rolling back of aggressive policy measures taken during the coronavirus crisis to avoid serious repercussions to the economy.

So far this year, the BSP slashed rates by 175 basis points (bps), bringing down overnight reverse repurchase, lending, and deposit facilities to record lows of 2.25%, 2.75%, and 1.75%, respectively.

“We think they will maintain policy settings and will wait for lawmakers to pass laws that will more effectively stimulate the economy including approval of a bigger and better targeted 2021 budget such as in health, government guarantees, public construction, etc.,” Mr. Neri said.

The proposed P4.5-trillion national budget for 2021 is pending at the Senate. Legislators have committed to approving the 2021 national budget by Dec. 16, in time for its signing before the year ends.

Data showing signs of a less severe economic contraction will also likely push the BSP to leave rates untouched, said Maybank Investment Bank Chief Economist Suhaimi Bin Ilias.

“The just released third-quarter GDP (gross domestic product) data is showing signs the economy is off the worst in the second quarter 2020 and will gradually improve with progressive unwinding of quarantines,” Mr. Ilias said.

The economy shrank by 11.5% in the July to September period, better than the record 16.9% plunge in the second quarter when lockdowns were at their tightest.

The BSP will also have to consider bank lending growth which remains sluggish, UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said.

“The subdued credit demand would be something of huge consideration as well and cutting rates further may not result in desired gains at this point. Excess liquidity is also one consideration at a time when market investors are looking high and low for more asset earnings,” he said.

Mr. Diokno has said the BSP’s policy measures infused about P1.9 trillion into the financial system, equivalent to about 9.6% of the GDP.

Despite this, bank lending grew by 2.8% in September, the slowest since the 2.4% seen in June 2007, as lenders tightened credit standards to guard against bad loans and consumer confidence remained low due to the pandemic.

Meanwhile, five analysts are pricing in a rate cut on Thursday, citing the slower-than-expected economic recovery, weak fiscal response, and benign inflation outlook will support further easing.

“A much weaker pace of recovery further reinforces our view that more monetary easing will be warranted,” Nomura Holdings, Inc. Chief ASEAN Economist Euben Paracuelles said. He also said that monetary measures may have to make up for the weak fiscal spending.

“BSP will cut its policy rate by a total of 50 bps in the fourth quarter to 1.75%, delivered via a 25-bp cut in each of the monetary board meetings in November and in December. Beyond that, we expect another 25 bps in rate cuts by the first quarter of 2021,” he added.

Risks to inflation remain tilted to the downside, giving room for another rate cut, analysts said.

“Although higher oil and energy price inflation will push the headline rate higher next year, weak growth and a large output gap will keep underlying price pressure subdued,” Alex Homes, an economist from Capital Economics, said.

The central bank expects average headline inflation this year to settle at 2.5%, well within the 2-4% target.

In October, the consumer price index rose by 2.5%. With the benchmark rate at 2.25%, the negative real interest rate environment is the reason why analysts think the BSP might hold back on further easing.

But this should not be a cause of worry, said University of Asia and the Pacific economist Victor A. Abola, who is pricing in a 25-bp cut on Thursday. He said keeping positive rates is “not important” as a lot of countries are also experiencing this.

“[W]hy ‘enrich the banks’ with higher interest rates when the vast majority of people are suffering and dipping into their savings, if any,” Mr. Abola said.

After Thursday’s meeting, the MB will have another policy meeting on Dec. 17, which will be the last for 2020.

Philippines signs RCEP, world’s biggest trade deal

November 16, 2020 | 12:32 am

By Jenina P. Ibañez, Reporter

FIFTEEN Asia-Pacific economies, including the Philippines, signed the world’s largest free trade deal on Sunday, with observers saying the deal could boost Philippine market access while others believe it would worsen the trade balance.

The Regional Comprehensive Economic Partnership (RCEP) is a trade pact that includes China, Australia, New Zealand, Japan, South Korea and all 10 ASEAN member countries. This is the first time that China, Japan and South Korea are all in a single free trade agreement.

The deal was signed in a virtual ceremony as part of the annual ASEAN summit in Hanoi, Vietnam.

“The RCEP will further broaden the Philippines’ economic engagements with its trading partners through improved trade and investment, enhanced transparency, integrated regional supply chains, and strengthened economic cooperation,” Trade Secretary Ramon M. Lopez, who signed a copy of the agreement during the virtual ceremony, said in a statement on Sunday.

“This agreement will also complement ongoing programs and policies to make the country a manufacturing and investment hub in the region.”

The prospective free trade area accounts for around a third of the global population and economy, and builds on existing bilateral and multilateral agreements in the region. It also allows for a common “rules of origin” in the region, which means it simplifies the regulations identifying if products are “made in” a country.

Talks on the China-backed trade pact began in 2012.

Mr. Lopez, calling the deal a “modern” free trade agreement, said that it covers issues surrounding intellectual property, e-commerce, small business, government procurement, and competition.

The RCEP is expected to enhance market access for key Philippine products including garments, automotive parts, and agricultural products like canned food and preserved fruits, Trade Assistant Secretary Allan B. Gepty said in a statement.

“(It is) also a platform for more investments in the country in vital sectors such as manufacturing, research and development, financial services, game development, e-commerce, and the IT-BPO (information technology-business process outsourcing) sector,” Mr. Gepty said.

The deal has also been seen as a way to jump-start trade as Asian economies reel from the effects of US-China trade tensions and the ongoing coronavirus disease 2019 (COVID-19) pandemic.

“The RCEP will definitely help faster recovery of the global economy from COVID-19 and a welcome development in spurring export and imports,” Rizal Commercial Banking Corp. Economist Michael L. Ricafort said in a mobile message.

RISKS AND BENEFITS
But Trade Justice Pilipinas, a campaign for equitable trade, criticized the lack of transparency during the RCEP negotiations.

Trade Justice Pilipinas said that the deal does not give enough flexibility for least-developed ASEAN member states, which could lead to a widening of the gap between the richer and poorer economies. It added that strict enforcement of intellectual property rights could block access to affordable medicines and agricultural seeds.

Citing a report by United Nations Conference on Trade and Development Senior Economist Dr. Rashmi Banga, Trade Justice said that the Philippines would see the cost of imports rise by as much as $908 million while the value of exports to RCEP countries is expected to increase by around $4.4 million.

“RCEP will only deepen inequalities that already exist and were exacerbated further by the pandemic. It will further undermine the livelihoods of farmers, fishers, indigenous peoples and rural women, and threaten jobs for workers,” the group said.

George N. Manzano, University of Asia and the Pacific economist and former tariff commissioner, said that the stakes are now lower as nations shift their policy focus to domestic economic and employment recovery amid the pandemic, noting that there could be less resistance to RCEP.

“I think the policy attention right now is how to stimulate economies, and how to get economies to tide over until the (COVID-19) vaccine,” he said in a phone interview on Sunday.

Mr. Manzano said pandemic-related disruption influenced a rethink of the traditional efficiency and low cost-based global value chain in favor of reliability.

“So basically there’s a lot of pressure now to rethink having very far-flung global value chain networks. They’d rather have something which is close by,” he added.

RCEP could also create a framework for trade facilitation and digital trade.

“Digital trade will take up a bigger transmission of trade in the future as we’re experiencing now, so the earlier transition in getting comfortable in getting into agreements involving digital trade. It will help us at least, policy-wise,” Mr. Manzano said.

He added that the agreement could help facilitate the trade and distribution of vaccines and personal protective equipment.

“Small countries, those who don’t have much bargaining power in the world, the only way you can do that is by signing into an international cooperation, because it’s difficult for you to bargain with China or the US,” Mr. Manzano said.

Last year, University of the Philippines Professor of Economics and Finance Epictetus E. Patalinghug said domestic high-cost industries that are protected by tariffs and safeguards will not survive against RCEP competition, noting that advantages and risks to Philippine industry will depend on which sectors are finally included in the agreement.

He had said that trade in labor-intensive outsourcing services stands to benefit.

The agreement will be implemented after a ratification process, which could take up to two years.

India had backed out of the RCEP negotiations last year, but ASEAN leaders are still open to the country’s participation.

The United States is not part of the RCEP, as well as the Obama-led trade pact Trans-Pacific Partnership (TPP). US President Donald Trump pulled out of the TPP in 2017.

PHL economic outlook dims

November 16, 2020 | 12:31 am

By Beatrice M. Laforga, Reporter

CREDIT RATING agencies and other institutions are likely to further cut their gross domestic product (GDP) outlook for the Philippines this year, after third-quarter data showed a slower-than-expected pace of recovery and the country continues to struggle to contain the coronavirus disease 2019 (COVID-19) pandemic.

“The third-quarter outturn for real GDP growth of -11.5% year on year reinforces the downside risks to our current forecasts. While the quarter-on-quarter rebound is one of the largest that we’ve seen in the region, the continued contraction in year-on-year terms highlights the magnitude of the negative impact of the ECQ earlier in the year,” said Christian de Guzman, senior vice-president of Sovereign Risk Group at Moody’s Investors Service in an e-mail last week.

The economy shrank by 11.5% in the third quarter, easing from the 16.9% slump in the second quarter. Economic output fell 10% in the first nine months of the year, exceeding the government’s projected 4.5-6.6% contraction for the full year.

Mr. De Guzman said recovery prospects will depend on the country’s ability to contain the spread of COVID-19 without resorting to a strict lockdown.

The Health department reported 1,530 new cases of COVID-19, bringing the total to 407,838, as of Sunday.

For Fitch Ratings, the third-quarter GDP result was weaker than expected but is unlikely to affect the Philippines’ recovery prospects for 2021. Fitch expects the Philippine economy to shrink by 8% this year before growing by 9% in 2021.

“The Q3 GDP outturn was weaker than we expected, and together with the downward revision to Q2, we see some modest downside risk to our existing -8% GDP growth projection for 2020. That said, the Q3 outturn does not alter our view of the Philippines’ recovery prospects for 2021 which remain intact despite ongoing risks from the virus, both domestically and globally,” Sagarika Chandra, associate director for Asia-Pacific sovereigns at Fitch Ratings said in an e-mail on Friday.

Ms. Chandra said they will look at the government’s fiscal consolidation plans and its medium-term policy framework post-crisis in deciding on its rating outlook for the country.

The debt watcher in May downgraded its outlook for the Philippines to “stable” from “positive,” and affirmed the country’s “BBB” credit rating.

“We will also assess the extent to which the crisis may affect the Philippines’ otherwise strong medium-term growth potential, which has supported the country’s BBB sovereign rating,” she added.

Meanwhile, the ASEAN+3 Macroeconomic Research Office’s (AMRO) is likely to lower its forecast for the Philippine economy this year.

“In view of recently released Q3 GDP growth, which is lower than our expectation, we are likely to revise our forecast downward in the next round of our economic outlook updates,” Zhiwen Jiao, AMRO country economist for the Philippines, said in an e-mail last week.

AMRO projected the economy will drop by 7.6% this year, considering the rising number of coronavirus cases and two-week lockdown in August. It expects Philippine GDP to grow by 6.6% in 2021.

“We will continue to closely monitor the country’s COVID-19 pandemic situation and lockdown policies, economic conditions both domestically and internationally, as well as stimulus policies for households and businesses,” Mr. Jiao said.

The Organization for Economic Cooperation and Development (OECD) on Friday said it expects the Philippine economy to shrink by 8.4% this year, from the previous 3.2% drop it gave in July.

OECD Development Centre Head of Asia Desk Kensuke Tanaka said policy support from both fiscal and monetary measures will have to continue to boost the Philippines’ recovery prospects amid weak investment, consumption, job market and remittances.

“In particular, the special attention will be needed for financial market stability. Delay of infrastructure investment will also be another downside risk,” he said.

PLDT, Smart to deal with users’ concerns via ‘virtual meeting’

November 16, 2020 | 12:07 am

PLDT, Inc. and its wireless arm Smart Communications, Inc. are launching a virtual meeting service for their customers to accommodate their queries or concerns, as the public health crisis continues.

“Beginning on November 16, 2020, Smart subscribers can visit stay.smart” to book a virtual appointment with their preferred retail outlet,” PLDT and Smart said in a joint statement at the weekend.

PLDT customers can visit pldthome.com to schedule a virtual appointment, they added.

The telcos also said their customers will receive an MS Teams meeting link via their e-mails, which they can open on their browsers or through the MS Teams app.

Both PLDT and Smart are also launching a booking service for in-store visits, especially for concerns or services that require a personal appearance.

“This would allow them and an assigned PLDT-Smart store frontliner to meet safely in the store premises, following strict health guidelines set by the government and the company,” the companies said.

PLDT and Smart said further they would make available their online appointment service on their official social media pages.

Alex O. Caeg, senior vice president and head of consumer sales group at PLDT and Smart, said: “With this online booking system, we hope to give them a more convenient experience whenever they need to do business with our stores nationwide. We would also like to encourage them to shift to digital transactions in the safety of their homes, especially during a time when people should practice physical distancing in the pandemic.”

“This is part of… PLDT’s efforts to ramp up its digital services, help in the recovery of the economy, and at the same time, promote the health and safety of employees and customers as we navigate the next normal,” Mr. Caeg added.

PLDT saw its attributable net income for the third quarter surge 95% to P7.41 billion versus the P3.79 billion it generated in the same period last year.

The company attributed its growth for the quarter to the spike in customer demand for digital or online services triggered by the ongoing coronavirus pandemic.

PLDT saw a 10% increase in its total revenues to P46.49 billion. The company’s service revenues grew 9% to P44.37 billion while its non-service revenues increased 18% to P2.12 billion.

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. — Arjay L. Balinbin

1...7,5567,5577,558...12,978 Page 7,557 of 12,978