Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 7868

Dining In/Out (01/14/21)

Sofitel’s Food Truck Festival returns

THE WEEKEND Food Truck Festival of Sofitel’s Sunset Bar returns, with international favorites complemented by free-flowing beverages amidst a lush bayside garden with a sunset view. Al fresco dining sets a new standard for a safe and leisurely gastronomic experience. Executive Chef Bettina Arguelles showcases popular food truck favorites such as tacos, burgers, smokehouse-grilled specialties including smoked salmon, roast beef, pork ribs, bellychon, seafood and pork skewers, sausages, and the chef’s choice of sizzling specialties prepared àla minute for a guaranteed Accor ALL SAFE seal. Making the evening better are free-flowing local beer, iced tea, soda, and wine. Sunset Bar’s Food Truck Festival will be up and running every Saturday and Sunday from 6 to 10 p.m. Rate is set at P2,850 per person. For reservations and inquiries, call F&B Reservations at 0917-309-2161 or 8832-6988, or e-mail H6308-FB12@sofitel.com.

Safer al fresco dining at Araneta City’s #PopUpNight

ARANETA City’s weekend al fresco offering at the Manhattan Row continues this 2021. The #PopUpNight Dine Out Weekend along Malvar Street will now run for a much longer time — from 3 to 11 p.m. every Friday and Saturday. The al fresco offerings of stores like Ally’s All Day Breakfast, Giovanni’s, Marina Grill, Mang Inasal, Gilligan’s, The Eatery, Mister Kabab, Bonchon, and Moonleaf Milk Tea will be on offer, along with sidestreet booths of Pizza Hut, Dairy Queen, and Taco Bell. Just order at the booths, and wait for your food to be delivered to your seats. Other food stalls will also open along the road to offer more choices to the dining patrons. Araneta City’s #PopUpNight gives the public a safer option for eating out during the pandemic. Most experts suggest that the risk of viral transmission is lower in open-air outdoor dining compared to typical indoor dining due to better air ventilation. Physical distancing and other safety measures will be strictly implemented as part of the “new normal” experience.

Old Swiss Inn goes back to 1946

TO CELEBRATE its 75th anniversary, Old Swiss Inn is bringing back its Price Rollback promo. While the mechanics have changed, what remains the same is that the restaurant is offering some of its signature dishes at 1946 prices. Every month, Old Swiss Inn will be featuring some of its famous dishes that can be availed of at their estimated original price on the 1940s menu — for example, Hungarian sausage in January for P12, schublig in February for P12, fresh corned beef in March for P17, all the way to prime rib in August for P35. For every spend of P5,000, the diner can purchase the featured dish per month at their rollback price. Only items availed from Old Swiss Inn, Pinkie’s Farm, and Fearless Apron for dine-ins, take-out, and delivery transactions will be considered. (Drinks and Pinkie’s Farm & Friends items, functions, catering service, set menu, and other special menus are not included in the time warp. Regular prices prevail.) Every P5,000 worth of purchased item is equivalent to one stamp. All stamps will be collected and monitored digitally. One can earn one Rollback menu key by collecting 10 stamps. With every key, the diner can order an item from the Rollback Menu (Only one dish per kind is allowed) including Prime Rib. Clients can only unlock their keys from the Rollback Menu on any of their preferred days in August and it shall only be redeemed all at once. Service charge and VAT will be applied.

Two limited edition drinks at Shake Shack

FOR a limited time only, Shake Shack will be serving Lychee Lemonade and Strawberry Cookies & Cream Shake. Lychee Lemonade (P130 for a small glass; P160 for large), is a Shack-made lemonade blended with lychee puree, while Strawberry Cookies & Cream Shake (P190) is made with vanilla custard blended with strawberry puree and vanilla cookies, topped with whipped cream and vanilla cookie crumbles. They are available at Shake Shacks or via Grab and foodpanda.  For advance orders call Shake Shack Central Square (8255-3240), Shake Shack SM Megamall (8362-1450), or Shake Shack Greenbelt (7933-6724).

Banapple now open at Shangri-La Plaza

BANAPPLE has started serving its home-cooked style dishes and desserts at Shangri-La Plaza. Mall guests will get to enjoy Banapple’s Banoffee Pies and Apple Caramel Crumble Pies as well as its notable dishes such as Hickory Smoked Barbecued Country Ribs and Chicken Parmigiano at the Shang. They also have the option to enjoy Banapple’s dishes at home with the restaurant’s recently launched express delivery services for their safety and convenience. To make family meals more special, Banapple now also offers some of its dishes in food trays. Established in 1997, this restaurant started out as a bakery but soon expanded its offerings to include soups and salads, pastas, sandwiches, dishes, and savory pies, as well as pancakes and other breakfast favorites. Banapple is at Level 5 of the Main Wing. For updates and inquiries, follow Shangri-La Plaza on Facebook at www.facebook.com/shangrilaplazaofficial and on Instagram @shangrilaplazaofficial.

BSP inks lease for new complex in New Clark City

THE BANGKO SENTRAL ng Pilipinas (BSP) has inked a lease contract with the Bases Conversion and Development Authority (BCDA) for the central bank’s new complex that will soon rise in New Clark City.

The facility will be located at the national Government Administrative Center located in New Clark City, Capas, Tarlac.

The BSP and BCDA in September 2019 signed a memorandum of understanding for the project.

The complex will cover more than 300,000 square meters. Once built, the complex will be the site of the central bank’s production and distribution of currency; printing of secure products such as the national identification card and land title certificates; executive offices and administration buildings; green spaces and employee wellness areas; and a museum, among others.

“This new facility is intended to strengthen the strategic foothold of the BSP in the country’s key growth corridors, in pursuit of its mandates in the areas of currency and securities production and distribution,” Mr. Diokno said at the virtual signing event on Wednesday.

“The BSP and BCDA affirm its shared commitment to promote efficient and effective governance by supporting the Government’s infrastructure program to decongest the National Capital Region and decentralize the delivery of public services,” he added.

Based on the agreement, the BSP will lease the land on which its new complex will stand for a period of 50 years. The BSP will have the option to renew this for another 25 years upon agreement with the BCDA. 

Mr. Diokno said the contract signing will be followed by procurement of the architectural and engineering design and the construction of the facilities which, he said, will be “modern and eco-friendly”. — LWTN

Bespoke fridges are Samsung’s next bet to win millennial market

AFTER A BOOM in sales of refrigerators and cleaners during coronavirus disease 2019 (COVID-19), Samsung Electronics Co.’s home appliance business is looking ahead to the post-pandemic era by focusing on offering personalized devices to younger customers.

The South Korean giant’s home appliance business, which accounts for almost 10% of total revenue, should report a 10% increase in sales for 2020, Jae Seung Lee, president and head of digital appliances business, said in an interview. Demand will continue through the first six months of this year, but sales will start to weaken in the second half once the economic effect of subsidies wane and people start getting back to normal life after vaccines roll out, according to Mr. Lee.

“We are drawing up contingency plans as we expect a sales slowdown in the second half,” he said at Samsung’s headquarters in Suwon. “There will be another new battle for market share. We will aggressively carry out new product sales for the second half and overcome challenges by providing differentiated products.”

Spurred by stay-at-home demand, the world’s largest memory chip and electronics maker has benefited from strong sales of semiconductors that goes into everything from PCs and TVs to data centers as well as digital appliances. Samsung’s home appliance business initially suffered from plant closures when COVID-19 spread to Europe and the US last year, but the company swiftly adjusted its global supply chain to meet increased demand for larger fridges to store food and for vacuum cleaners and washing machines.

Samsung slid roughly 1.7% in Tuesday trade, after two sessions of gains propelled by a strengthening memory market outlook and news that Intel Corp. was considering outsourcing some of its manufacturing.

Looking beyond to the post-COVID era, Samsung plans to target millennial customers who shop online and prefer personalized designs, Mr. Lee said. Online sales rose 50% globally in the third quarter, while Bespoke refrigerators that can be customized according to size, material and color — specialty fridges for kimchi are a popular option — accounted for more than 67% of the Korean market last year.

“Customers had few options among products made by a traditional manufacturing system,” said Mr. Lee. “Our way of manufacturing has to be changed for the personalization of appliances, and that’s a big transition.”

While the shift to order-based production will increase costs, the company is betting that the strategy will create sales opportunities, Mr. Lee said. Samsung, whose Bespoke lineup also includes wine coolers and dishwashers, is seeking to open up its production ecosystem to suppliers and furniture studios so that clients can have more design options. It plans to start sales of Bespoke fridges in the US, Middle East, and Europe this year.

The division is also pushing software customization that will enable its home appliances to offer AI-based solutions to users. While the company’s own Bixby voice assistant is here to stay, Mr. Lee said Samsung is open to working with Amazon.com, Inc and Alphabet, Inc.’s Google to connect their rival systems to its gadgets.

With demand for sterilization and hygiene capabilities on digital appliances rising, Samsung is considering making built-in water purifiers as well as a new version of its Air Dresser closet for shoes, while strengthening the sterilization features in its air purifiers. At an online event for the CES consumer technology show this week, the company also unveiled a new robot vacuum cleaner, called JetBot 90 AI+, with three cameras with LiDAR and 3D sensors that will go on sale globally in the first half of this year. — Bloomberg

How PSEi member stocks performed — January 13, 2021

Here’s a quick glance at how PSEi stocks fared on Wednesday, January 13, 2021.

Stocks decline further as investors pocket gains

By Revin Mikhael D. Ochave, Reporter

THE MAIN INDEX closed lower on Wednesday, extending its decline to a second day, as investors booked profits from the local market’s heavyweights.

The benchmark Philippine Stock Exchange index (PSEi) fell 15.26 points or 0.21% to end at 7,242.85, while the broader all shares index dropped 2.83 points or 0.06% to 4,334.93.

Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a mobile phone message that the market ended lower as investors pocketed their gains on index heavyweights such as Ayala Corp. (AC), Ayala Land, Inc. (ALI), and JG Summit Holdings, Inc.

On Wednesday, shares in AC fell P21.50 or 2.56% to end at P818.50 apiece; ALI stocks declined P1.05 or 2.53% to close at P40.40 each; and stocks of JG Summit lost 30 centavos or 0.41% to end at P72 per share.

“Funds went more into second liners and speculative stocks allowing the overall market to have a positive breadth,” Mr. Tantiangco said.

Advancers bested decliners yesterday, 131 against 105, while 37 names ended unchanged.

AAA Southeast Equities, Inc. Research Head Christopher John Mangun said the market closed lower as investors were on a “wait and see” mode.

“Volatility on blue chips continues to die down while second and third liners remain extremely active. Investors are waiting until economic activity can justify current blue chip valuations before buying any higher,” Mr. Mangun said in an e-mail.

“The main index has stalled every time it climbed above 7,200. There is still a lot of uncertainty and we will not see the market go higher until we see more good news,” he added.

Finance Secretary Carlos G. Dominguez said at a virtual meeting of the Management Association of the Philippines (MAP) on Tuesday that preliminary data showed the national government’s budget deficit reached P1.36 trillion or around 7.5% of the country’s gross domestic product.

Majority of sectoral indices finished lower on Wednesday, except for mining and oil, which rose 207.83 points or 2.13% to 9,954.71, and financials, which improved 21.99 points or 1.49% to 1,490.08.

Meanwhile, property retreated 43.65 points or 1.16% to 3,695.47; industrials declined 42.63 points or 0.44% to 9,546.44; services went down 2.61 points or 0.16% to 1,538.85; and holding firms lost 11.46 points or 0.15% to 7,413.42.

Value turnover reached P9.17 billion on Wednesday with 17.08 billion issues switching hands, lower than the P9.74 billion with 41.52 billion issues seen in the previous trading session.

Net foreign selling amounted to P220.06 million yesterday, higher than the P25.03 million worth of net outflows logged on Tuesday.

Peso slips as oil prices spike

THE PESO inched down versus the greenback on Wednesday as oil prices climbed to their highest levels in almost a year.

The local unit closed at P48.069 per dollar yesterday, depreciating by 1.80 centavos from its P48.051 close on Tuesday, data from the Bankers Association of the Philippines showed.

The peso started Wednesday’s session at P48.03 against the dollar. Its weakest level was at P48.07 while its intraday best was at P48.03 versus the greenback.

Dollars traded increased to $635.1 million from the $476.25 million on Tuesday.

The peso depreciated due to higher oil prices, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

Reuters reported that pump prices rose by more than 1% on Wednesday. Gains were led by Brent crude prices that inched up 1.7% or 79 cents to $57.37 a barrel by 0420GMT while the US West Texas Intermediate price increased 1.3% or 67 cents to $53.88 per barrel.

Both benchmarks saw their prices at their highest since February, prior to the escalation of the virus into a pandemic.

Meanwhile, a trader said the peso slipped as investors await the stimulus package of US President-elect Joseph R. Biden.

Mr. Biden said he will reveal a trillion-dollar worth of package this week that includes state and local government funds for the pandemic, as well as rent and unemployment support.

For today, Mr. Ricafort expects the peso to move within the P48.04 to P48.09 band versus the dollar while the trader gave a wider P48 to P48.20 range. — LWTN with Reuters

Filipino from UAE tests positive for UK coronavirus strain

The more contagious coronavirus strain first detected in the United Kingdom has reached the Philippines, according to the Department of Health (DoH).

In a statement, the agency said the Philippine Genome Center detected the UK variant from samples of a Filipino who arrived from the United Arab Emirates on Jan. 7.

The male resident from Quezon City went to Dubai on Dec. 27 and came back last week via an Emirates Flight. His female partner who accompanied him on his trip had tested negative for the coronavirus but was under strict quarantine.

The two had no exposure to an infected person before leaving for the UAE, DoH said. Health authorities have traced people who had contact with them.

“The DOH has also secured the flight manifest of the flight in question and contact tracing of other passengers is now under way,” it said.

“Weekly genomic biosurveillance among incoming passengers, local cases, re-infected patients, and those with reported clustering of cases will be intensified,” it said.

DoH called on the public to observe  health protocols to lower the transmission risk. — Vann Marlo M. Villegas

Gov’t to sign contracts for 30M vaccine doses

By Vann Marlo M. Villegas and Charmaine A. Tadalan, Reporters

THE PHILIPPINE government is expected to sign separate deals for 30 million doses of coronavirus vaccines from two drug makers.

It will sign an agreement with UK-based company AstraZeneca Plc on Thursday for 20 million more vaccine doses, vaccine czar Carlito Galvez, Jr.  told an online news briefing on Wednesday.

The state is also in the final stage of negotiations with Moderna, Inc. for at least 10 million doses of its vaccines, Philippine Ambassador to the US Jose Manuel G. Romualdez said in a statement.

The government may also buy 10 million more doses that may be delivered starting in the middle of the year, he said.

In November, the government and private sector signed a deal with AstraZeneca for the purchase of 2.6 million doses of its vaccines.

After the signing, local government units (LGUs) the National Government and vaccine maker will sign a tripartite supply agreement, Mr. Galvez said.

“It is the local government units’ responsibility to administer the vaccines and the National Government will be in charge of the supply for cold chain requirements,” he said on mixed English and Filipino.

Several local government units have allotted funds for vaccines and are seeking to buy from AstraZeneca.

Meanwhile, Mr. Galvez said the government expects the emergency use authorization (EUA) for the vaccine made by China’s Sinovac Biotech Ltd by February 20. The government will order 25 million doses from the drug maker.

“We know how many doses will arrive every month,” he said in Filipino, adding that 50,000 doses will be here next month.

Mr. Galvez said Sinovac is still consolidating the results of its phase three clinical trials in Brazil and Turkey. It is also waiting for an emergency use authorization for general use in China, he added.

Russia’s Gamaleya Research Institute of Epidemiology and Microbiology and Pfizer, Inc. have also filed for emergency use with the local Food and Drug Administration.

Meanwhile, Mr. Romualdez said ICTSI would pay for the shipping of vaccines from Moderna’s manufacturing facility in Spain. “I welcome the pledge of support of the private sector led by International Container Terminal Services, Inc.’s Enrique Razon in shipping and distributing the vaccines.”

Mr. Galvez told senators on Monday the government was expecting to start the rollout of coronavirus disease 2019 (COVID-19) vaccines in February under the COVID-19 Vaccines Global Access (COVAX) facility. About 40 million doses are expected from COVAX, which could inoculate as many as 30 million people.

The Senate will resume hearings on the government’s immunization program on Friday. Senators want to know how the state can buy 148 million doses by year-end to cover at least 50 million Filipinos.

“We’ve not been able to cross all important points,” Senator Vicente C. Sotto III told an online news briefing. “There are still many issues that we’d like to discuss.”

He said the private sector and local government units had been invited to the hearing.

Senators have asked the Health department and other agencies in the past hearing to allow private companies and local governments to directly order vaccines instead of routing these through the National Government.

CASE TALLY
The Department of Health (DoH) reported 1,453 coronavirus infections on Wednesday, bringing the total to 492,700. The death toll rose by 146 to 9,699 while recoveries increased by 458,523, it said in a bulletin.

There were 24,478 active cases, 84.9% of which were mild, 6.1% did not show symptoms, 5.5% were critical, 3% were severe and 0.50% were moderate.

Quezon City reported the highest number of new cases at 95, followed by Cavite at 66, Manila at 54, Davao City at 50 and Cebu City at 44.

DoH said 11 duplicates had been removed from the tally, while 44 recovered cases were reclassified as deaths. Four laboratories failed to submit their data on Jan. 12.

About 6.7 million Filipinos have been tested as of Jan. 11, according to DoH’s tracker website.

The coronavirus has sickened about 92.1 million and killed about two million people worldwide, according to the Worldometers website, citing various sources including data from the World Health Organization (WHO). About 65.9 million people have recovered, it said.

The OCTA Research Team from the University of the Philippines on Tuesday said Metro Manila is likely to experience a fresh surge in coronavirus infections in the coming weeks after people violated social distancing rules during the holidays.

It also said that there was an upward trend in cases, with the virus reproduction number in Metro Manila increasing past 1 to 1.17 as of Jan. 10, meaning an infected person can infect another person.

The last time it was above 1 was on Dec. 21 and had remained below that during the holiday season after testing was reduced by more than 40%.

Vaccination fears may ease with Duterte’s own shot

GIVING President Rodrigo R. Duterte a coronavirus vaccine shot would probably persuade hesitant Filipinos to get vaccinated, according to the country’s vaccine czar.

Vaccinating the President, who enjoys a 70% approval rating, would boost the confidence of Filipinos in the government inoculation drive, Carlito G. Galvez, Jr. told an online news briefing on Wednesday.

A poll by the OCTA Research Team in December showed that only a quarter of Filipinos in Metro Manila are willing to get vaccinated against the coronavirus. It said 28% did not want the vaccine, while 47% were undecided.

Mr. Galvez said he and other officials were willing to get vaccinated with whatever drug will arrive in the country first.

Presidential spokesman Harry L. Roque said earlier Mr. Duterte preferred the vaccines developed by China’s Sinovac Biotech Ltd. and Russia’s Gamaleya National Center of Epidemiology and Microbiology.

A poll by the Social Weather Stations in 2019 showed that most Filipinos do not trust China, which had a “bad” net trust score of minus 36.

Aside from China’s Sinovac, vaccines developed by US drug maker Pfizer, Inc. and British firm AstraZeneca, Plc may be among the first to arrive in the country, Mr. Galvez said. — Kyle Aristophere T. Atienza

One-line ‘Cha-cha’ easier to pass, top Senate leader says

THE SENATE might push for a one-line amendment of the 1987 Constitution that will relax foreign ownership limits to increase its chances of being passed, its top leader said on Wednesday.

“If you’re talking about Charter amendments, it might take time,” Senate President Vicente C. Sotto III told an online forum on Wednesday in mixed English and Filipino. “If you’re talking about a charter amendment, there’s a chance.”

Some lawmakers want to insert the line “as may be provided by law” in economic provisions of the Constitution that reserve 60% ownership of certain areas of investments to Filipinos. This will allow legislators to pass a measure that will increase the 40% limit on foreign investors.

Mr. Sotto earlier said they might also amend a clause on the party-list system, but he now wanted to file a bill instead.

“I will be drafting a bill that will amend the party-list law to make it clearer,” he said. “That way, we would no longer be subject to the interpretation of the Supreme Court or whoever.”

A plebiscite on Charter change (Cha-cha) could be held next year, Mr. Sotto said, dismissing fears that it may be used to extend the terms of incumbent officials.

Separate resolutions seeking to convene the House of Representatives and Senate as a constituent assembly to proposed changes to the Constitution have been filed.

Speaker Lord Allan Q. Velasco earlier said changing the Charter’s economic provisions was urgent amid a coronavirus pandemic.

Meanwhile, Aurelio R. Montinola III, the newly appointed president of the Management Association of the Philippines (MAP) said reopening the economy to more foreign investments would benefit the country.

“Freer trade has always been beneficial in general,” he told the ABS-CBN News Channel, adding that Filipino-owned businesses remain competitive.

Mr. Montinola said he would leave the debates about the wisdom of constitutional change to the experts.

“Our main task is to safely reopen the economy given the existing conditions,” Mr. Montinola said, referring to the coronavirus pandemic.

The Makati Business Club (MBC) has said changing the Constitution now would divide the nation. All major presidential and congressional candidates should instead commit to relax the limits in the basic law once they start their new terms.

The Philippine Chamber of Commerce and Industry (PCCI) this week lawmakers to instead prioritize the passage of pending economic bills.

American and European business groups in the Philippines said they support Charter change to improve the country’s competitiveness in attracting foreign investors and spur an economic rebound.

Also on Wednesday, Marikina Rep. Stella Luz A. Quimbo said the Philippines should allow limited foreign ownership of land just like some of its neighbors.

The government should set conditions, including ensuring that foreigners use land for their operations and not for investment.

“If a foreigner owns land but does not use it in a specified period of time, the state can forfeit it,” she said in mixed English and Filipino at a House hearing on Charter change.

The Constitution limits land ownership to Filipino citizens. — Charmaine A. Tadalan, Jenina P. Ibañez and Gillian M. Cortez

Nationwide round-up (01/13/21)

OFWs withdraw from repatriation program as host countries roll out vaccines

A NUMBER of Filipino migrant workers have withdrawn from the government’s repatriation program as their host countries have started vaccinations against the coronavirus, the Department of Foreign Affairs (DFA) said on Wednesday. DFA Undersecretary Sarah Lou Y. Arriola, in a televised press briefing on Wednesday, said a number of Overseas Filipino workers (OFWs) have backpedalled on their plan to return home with the renewed confidence on economic opportunities abroad. Overseas Workers Welfare Administration’s (OWWA) Hans Leo J. Cacdac earlier said around 80,000 OFWs planned to return to the Philippines in the first half of 2021. “We noticed that many OFWs are backing out (of the repatriation program), especially in Middle East, because mass vaccination programs are now implemented in their host countries,” said Ms. Arriola. “We heard that the plan of Middle East countries, the GCC (Gulf Cooperation Council), is to have herd immunity before the Ramadan,” she added. “Many of our countrymen are now deciding to stay in their ‘country of destination’.” Citing data as of January 12, Ms. Arriola said more than 342,000 overseas workers returned to the country since repatriation efforts began in February last year due to the coronavirus pandemic. — Kyle Aristophere T. Atienza

Vaccine czar assures equitable vaccine distribution nationwide

THE national government will assist local governments that cannot afford to procure vaccines for their constituents, the vaccine czar assured on Wednesday, as urban areas with higher income have cornered advance orders from British pharmaceutical firm AstraZeneca Plc. “Provinces and towns that cannot procure their vaccines, we will provide the vaccines. If others lack supply, we will fill that gap,” Secretary Carlito G. Galvez, Jr. said in mixed English and Filipino in a televised press briefing. The national government will sign on Thursday an agreement with AstraZeneca for 20 million doses of its coronavirus vaccine. Mr. Galvez also assured that the cold chain facilities needed to store the vaccines and personal protective equipment (PPEs) for health frontliners who will be involved in the inoculation program would be provided by the national government. The government could begin distributing vaccines to the public as early as February, Mr. Galvez said.  At the same briefing, Senator Sherwin T. Gatchalian asked the national government to allow local governments and private firms to directly purchase vaccines from manufacturers to speed up the rollout. The government, meanwhile, is beefing up its information campaign regarding the country’s vaccination program. At the same briefing, Philippine News Agency Director General Ramon L. Cualoping III said the Presidential Communications Operations Office will hold online townhall meetings with representatives from the Philippine Medical Association and Philippine Nurses Association, among others, to brief the public on the coronavirus vaccine program and address reservations and concerns. “We were given the mandate to hold information drives in priority areas across the nation,” he said in Filipino. — Kyle Aristophere T. Atienza

Solon dismisses ‘constituent assembly’ claim of Charter change chair

A LAWMAKER has dismissed the assertion of a fellow House of Representatives member that Wednesday’s committee meeting constitutes a “constituent assembly.” Albay 1st District Rep. Edcel C. Lagman pointed out that a constituent assembly will need the presence of both senators and congressmen. Ako Bicol Party-list Rep. Alfredo A. Garbin, Jr., chair of the House committee on constitutional amendment, said during Wednesday’s hearing on the proposed economic provision adjustments is already considered a “constituent assembly.” Mr. Lagman further said voting on the proposed changes in the Constitution will need a resolution from the Supreme Court before it proceeds. “This will have to be resolved by the Supreme Court… we will not have sufficient time to effectuate any proposed amendment,” Mr. Lagman said. House members are pushing for the lifting of restrictions on foreign ownership in certain sectors, which is seen to attract investments in the country and boost the economy battered by the coronavirus pandemic. Economists, among them former socioeconomic secretary Ernesto D. Pernia, invited to the hearing expressed support for the proposals, citing that the Philippines has the most restrictive policies among southeast Asian countries. “The easing of restrictions on foreign participation of the economy is very important because it is not only going to speed up economic growth but also improve quality of growth,” said Mr. Pernia. On the other hand, Rosario Guzman, executive director of the non-profit research foundation IBON, said allowing more foreign control in certain sectors will hamper goals on having policies focused on local needs and instead build on the demand of foreign investors. “We will become even less able to pursue effective measures to build national industries,” she said. — Gillian M. Cortez

Law on hybrid election needed by Feb for implementation in 2022 polls

CONGRESS needs to pass the measure providing for the conduct of a hybrid election by February to allow the Commission on Elections (Comelec) to implement it in the May 2022 national and local polls, the senate leader said. “January to February now, kapag naipasa namin, madali nilang magagawa (when we pass it, Comelec can work on it),” Senate President Vicente C. Sotto III said at an online media forum on Wednesday. Senate Bill No. 1950, the Hybrid Election Act, is now pending second reading in the Senate. It is among the priority measures of the chamber when sessions resume on Jan. 18. Six counterpart bills have been filed at the House of Representatives, which are all pending at the committee level. If enacted, the system will allow a combination of automated election and manual election, intended to ensure transparency and credibility of the electoral process. Mr. Sotto said this will also allow Comelec to move the filing date of the certificate of candidacy to January 2022, instead of October 2021. He added Comelec may also opt to conduct a three-day election in 2022 to observe physical distancing in polling stations, should the coronavirus pandemic persist. — Charmaine A. Tadalan

Senator pushes for realignment of GOCC subsidy to vaccine procurement

THE subsidy allotted to non-performing government-owned and -controlled corporations (GOCCs) in the 2021 national budget must be realigned to boost the country’s inoculation drive against coronavirus, a senator said on Wednesday. Senator Sherwin T. Gatchalian said the Department of Finance (DoF) is already studying the suggested realignment of some P200 billion in subsidies appropriated to “unproductive” GOCCs to augment the funds needed for the procurement of vaccines. “This was my suggestion and the DoF is already studying this. We are looking into the GOCCs that are not productive or not generating revenue, to use the supposed subsidies for other important matters,” he said during a televised press briefing in mixed English and Filipino. Senators earlier urged the national government through the DoF to re-channel the assistance to government-owned firms under the P4.5-trillion national budget to pandemic and typhoon response efforts. They cited 118 GOCCs that remitted only P47 billion in dividends last year. — Kyle Aristophere T. Atienza

Regional Updates (01/13/21)

Bays in 2 Samar provinces, Leyte added to list of red tide positive areas

THE BUREAU of Fisheries and Aquatic Resources (BFAR) has warned consumers against eating shellfish harvested from Daram Island and Cambatutay Bay in Western Samar, Matarinao Bay in Eastern Samar, and Carigara Bay in Leyte after testing positive for red tide contamination. In its first shellfish bulletin for 2021, BFAR said these areas are the latest additions to the list of red tide positive zones in the country, which include Honda and Puerto Princesa Bays and Inner Malampaya Sound in Palawan; Milagros in Masbate; Sorsogon Bay in Sorsogon; and Dauis and Tagbilaran City in Bohol. Other areas that are affected by red tide include Tambobo Bay in Negros Oriental; Zumarraga in Western Samar; Calubian and Cancabato Bay in Leyte; Biliran Islands; Guiuan in Eastern Samar; Balite Bay in Davao Oriental; Lianga Bay and Hinatuan in Surigao del Sur; and Dumanquillas Bay in Zamboanga del Sur. All types of shellfish and Acetes sp. or alamang harvested from these areas are not safe for human consumption. However, other marine species can be eaten with proper handling.  — Revin Mikhael D. Ochave

4 farmers to represent PHL in 2021 International Cocoa Awards

FOUR farmers were declared winners in the Philippine Cacao Quality Awards 2021 on Wednesday and will be representing the country in the International Cocoa Awards (ICA) set October 2021 in Paris, the Agriculture department’s Davao regional office announced. The winners, among 23 cacao bean entries submitted, are: Christopher Fidraga of Bago City, Negros Occidental; Arthur Lagoc of Tugbok District, Davao City; Solidad Robillo of Gumalang of Baguio District, Davao City; and Carlos Brasicula of San Isidro, Davao del Norte. Malagos Agri-Ventures President Charita P. Puentespina, chair of the Philippine awards this year, said showcasing the produce as well as best practices of the local cacao industry in the international scene “will create market linkages which will open more market doors and vast opportunities for our cacao farmers.” “We are confident with our national entries to the ICA as we believe on the unique and exceptional quality of our cocoa. For years, Filipino cacao farmers have been making it big in the international market. This has been made possible with the support from the Department of Agriculture, Department of Trade and Industry, and the Davao City Agriculture Office,” Ms. Puentespina said in a statement from the DA-Davao. In 2019, Jose Saguban of Paquibato District in Davao City, a partner farmer of Auro Chocolate, bagged the country’s first Top 20 Best Cacao Beans Award in Salon du Chocolat Paris. — MSJ

Samal-Davao bridge gets ECC; design-build contract under final review 

THE design-and-build contract for the bridge that will connect Samal island to mainland Mindanao is now under final review after the project was recently granted an environmental compliance certificate (ECC), according to a public works official. The Department of Public Works and Highways (DPWH) “is now reviewing and perfecting the Contract for Design and Build for the Samal Island-Davao City Connector project,” Undersecretary Emil K. Sadain said in a text message last week. He said the ECC was released by the Department of Environment and Natural Resources (DENR) on January 4. DENR issued the Protected Area Management Board clearance in November last year. Mr. Sadain said once the contract is fully reviewed, it will be submitted to the Department of Finance for the loan negotiation with the Chinese government. The 2.8-kilometer bridge between Samal and Davao City is estimated to cost P23.04 billion and is planned for funding through official development assistance. Meanwhile, the legal team of the Rodriguez family that is questioning the bridge’s design and location is eyeing to file administrative and criminal cases before the Office of the Ombudsman against those involved in the issuance of the clearance and ECC. “We are preparing a complaint against all those involved in the irregularity in the issuance of the PAMB clearance and the ECC. These people have violated the very procedure which they themselves crafted, in order to railroad the issuance of the ECC,” said lawyer Ramon Edison Batacan in a text message. The Rodriguez family, owner of Paradise Island and Beach Resort and Costa Marina Beach Resort in Samal, has asked DPWH to realign the landing platform of the bridge, citing adverse environmental impacts. — Maya M. Padillo

1...7,8677,8687,869...13,495Page 7,868 of 13,495
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube