Barcelona beat Chelsea to win Women’s Champions League final

May 17, 2021 | 6:13 pm

GOTHENBURG, Sweden — Barcelona put on a brilliant display to beat Chelsea (4-0) to win the Women’s Champions League final for the first time in the club’s history on Sunday.

Coming into the game full of confidence after winning the Women’s Super League title last week, Chelsea were on the back foot from the very beginning as Barça’s rapid passing and possession-based game proved too much for the Londoners.

Barcelona got off to the best possible start when Lieke Martens hit the crossbar and Fran Kirby’s attempted clearance bounced off Chelsea midfielder Melanie Leupolz before spinning into the net in the opening minute.

“I was sure it was going to be good, but not that good — first goal, first minute, then I thought ‘today is ours,’” Aitana Bonmati told a news conference.

Chelsea struggled to deal with Barça’s punishing press and they went 2-0 behind in the 14^th minute when Leupolz was penalised for fouling Jennifer Hermoso in the box, and Alexia Putellas made no mistake from the spot.

Chelsea did their best to get forward, but they found their path blocked by a defence that has conceded only five goals in 26 Primera Division games this season.

Aitana made it 3-0 seven minutes later, rounding off a superb passing move from a Barça throw-in with a confident left-foot finish, prompting an emergency meeting of the Chelsea players on the edge of their box as the Catalans celebrated.

That discussion failed to resolve their defensive woes as Lieke Martens skipped past Niamh Charles on the left wing and centred for Norwegian winger Caroline Graham Hansen to steer home a fourth in the 36^th minute.

Chelsea’s switch to a more direct style produced an improvement in the second half, but it wasn’t enough to stop the Catalan club from coasting to victory, with the Barça bench exploding in celebration as the final whistle sounded to confirm their status as Europe’s best club side.

“We started, right from the beginning, with confidence. We didn’t feel as much pressure as we did in other games. The final is to be won, and that’s what we did,” Barça coach Lluis Cortes told reporters.

“We’ve been writing history and tonight it’s the whole of Spanish women’s football history that wins, not just us. To be the first (Spanish club) to reach the final and win it is fantastic for us.”

Chelsea coach Emma Hayes said her players were disappointed that the game was seemingly over before it began.

“Congratulations to Barça, they’re worthy winners, champions of Europe, I saw their experience count. I think they were exceptional in both boxes, it was one of those games where everything fell to them,” she told reporters. — Reuters

Kyoung-Hoon Lee wins first PGA Tour event at AT&T Byron Nelson

May 17, 2021 | 6:13 pm

South Korean Kyoung-Hoon Lee won his first Professional Golfers’ Association (PGA) Tour event on Sunday, shooting a 66 for a 4-stroke win at the AT&T Byron Nelson in McKinney, Texas.

The 29-year-old Lee entered the day in second, one shot behind 54-hole leader Sam Burns, but put the pressure on his playing partner immediately. He birdied five of the first eight holes at TPC Craig Ranch before a bogey at No. 9, then added three birdies and a bogey on the back nine.

A birdie at No. 17 gave him a 3-stroke lead and breathing room on the final hole, putting the topping on the tournament with a birdie at No. 18 for a 25-under 263 for the tournament.

Whatever he had rehearsed to celebrate his first win was lost in the moment.

“Before a lot of imagine when I win, like what is that,” he said through a translator. “Like, yeah, like fist pump or I imagine a lot of things, but too excited over there. Almost forget everything.

“So excited, yeah.”

With the win, Lee earned a spot in next week’s PGA Championship at The Ocean Course at Kiawah Island, S.C.

After shooting rounds of 65-62-69, Burns could muster only a 2-under 70 on Sunday to finish in second, 3 shots back, at 22 under. The 4-foot putt for birdie on the final hole moved him out of a four-way tie and into second on his own.

Behind Lee and Burns in a tie for third were four players, including two who made a big rise up the leaderboard on Sunday. Patton Kizzire fired the day’s low round, a 9-under 63, to climb 23 places on the day, while Daniel Berger shot a 64 to move up from 18^th place. Scott Stallings (66) and South African Charl Schwartzel (68) also finished in the tie.

Burns was going for his second win this month after winning the Valspar Championship on May 2.

Despite the second-place finish, he was happy with the results.

“I think the biggest thing for me is just knowing my game is in a good place. It’s in a good spot enough to where I can contend,” the 24-year-old from Louisiana said. “So that’s cool for me, just to see some results for some of the stuff I been working on back home.

“All in all, a great week.”

He also was happy for Lee.

“Yeah, he played awesome. I was really proud of him,” Burns said. “When it was tough, he hung in there and he got off to a great start. It was kind of gettable in the beginning. Got off to a really fast start, and then kind of midway through got tough for everybody, and he kept hitting one shot after the next and never gave anybody a chance. It was fun to watch.”

The final groups had to bear a weather delay of about two hours before finishing their rounds. The tournament started early and groups went out in threes with rain in the forecast, but the weather still got in the way.

Despite his blistering round, Kizzire said the storm had an impact.

“Yeah, so on 15 tee it came in, and, gosh, it seemed like it sped everything up,” he said. “You got the umbrella, you got the wind, rain, yardage, you got so many different factors going and it throws your routine off.”

Finishing in a tie for seventh at 19 under were Troy Merritt (65) and Joseph Bramlett (68). Jordan Spieth, who was in contention after firing a 66 on Saturday, shot a 71 to finish in a four-way tie for ninth at 18 under. He was playing for the first time since the Masters after testing positive for COVID-19.

“I guess I got back into tournament golf. Played well, hit a lot of good shots,” Spieth said. “You know, rusty mistakes here and there, and then I just didn’t putt as well as I would like to. So, stroke was a little off to start, and I’ll work on that for next week for sure.

“But coming into the week if you told me Top 10, I would probably take it. I didn’t know where anything stood.” — Reuters

Free at last to hug and party: UK reopens for business

May 17, 2021 | 5:45 pm

LONDON — Friends will hug, pints will be pulled and swathes of the British economy will reopen on Monday giving 65 million people a measure of freedom after the gloom of a four-month coronavirus disease 2019 (COVID-19) lockdown.

Most of the British will be free once again to hug, albeit cautiously, drink a pint in their pub, sit down to an indoor meal or visit the cinema after a series of lockdowns that imposed the strictest restrictions in peacetime history.

The biggest public health crisis in a century was accompanied by a drastic extension of state power; during England’s lockdowns police broke up parties and protests alike, shut down religious services and handed out fines of up to 10,000 pounds ($14,000) to youngsters for partying.

As freedom beckons once more, there is excitement.

“I shall be hugging literally everyone I can get my hands on,” British actress Joanna Lumley told The Telegraph newspaper. “I shall snatch babies from their mothers, and lean over zimmer frames.”

“I shall hug girls at the till, the picture framer, and lads playing footie in the park. Much later obviously I shall be hugging police personnel as I am charged at the station. Hugger-mugger, that’s me.”

Beside the euphoria, though, there is also anxiety.

Prime Minister Boris Johnson, who before he imposed three national lockdowns had railed against the “nanny” tendencies of the British state, advised people to cuddle cautiously and served notice that the spread of the coronavirus variant first identified in India meant that the final UK reopening in June could be delayed.

“Together we have reached another milestone in our roadmap out of lockdown, but we must take this next step with a heavy dose of caution,” Mr. Johnson said in a statement.

There is growing concern about variant B.1.617.2 which British scientific advisers say will become the dominant variant in the United Kingdom and which is more transmissible than B.1.1.7 (the variant first identified in Kent, England).

Broadly, from Monday in England gatherings of up to 30 people will be allowed outdoors, two families will be allowed to meet indoors; cafes, bars and restaurants will reopen for indoor service; care home residents will be allowed to have five visitors; and face coverings will no longer be compulsory in schools.

“It’s been a long, long time this one,” said Clare Smyth, the chef of London restaurant Core who won her third Michelin star in January during lockdown.

“I’m super excited, can’t wait to get the guests through the door, it’s going to be quite emotional,” she told Reuters. “London is opening up and exciting times will be ahead and it will bounce back.”

Though the rules are slightly different in the United Kingdom’s four constituent parts, restrictions are being eased in England, Scotland, and Wales from Monday while they will be eased slightly later in Northern Ireland.

The scars of COVID-19 remain.

The UK’s official death toll is 127,679 — Europe’s highest figure and the world’s fifth highest, after the United States, Brazil, India and Mexico, according to Johns Hopkins University.

The British economy last year had its worst decline in three centuries while the government spent hundreds of billions of pounds to save jobs and companies and the Bank of England doubled its bond buying program. — Guy Faulconbridge and Kate Holton/Reuters

China vaccinates nearly 14 million people a day

May 17, 2021 | 4:48 pm

A woman holds a small coronavirus disease 2019 vaccine bottle in front of a China flag in this illustration taken Oct. 30, 2020. — REUTERS/DADO RUVIC

CHINA is vaccinating almost 14 million people a day, the fastest pace in the world, as the country races to protect its coronavirus disease 2019 (COVID-19) advantage in the face of major Western nations reopening their economies.

The ramp up in shots is being helped by a flareup of cases in the eastern province of Anhui and northeastern region of Liaoning. Videos on social media showed citizens rushing to get their vaccines, with long queues at inoculation sites despite heavy rain. Hefei, Anhui’s capital city, administered 360,000 doses on Friday, the most in a single day for the hub of 10 million people, Xinhua News agency reported.

Many nations in Asia, China included, are struggling to combat vaccine hesitation. Some people have been wooed into a sense of complacency due to the region’s early success in containing the virus while others simply don’t trust the safety or efficacy of the vaccines available. However, recent outbreaks in countries like Singapore and Taiwan are testing that reluctance as harsher lockdown measures are imposed, bringing into clearer focus the understanding that being vaccinated can help stop serious illness.

Beijing is loathe to lose the advantage it’s built up over the US and other major Western economies with its successful containment of the pathogen, and has added pressure through things like calling for mandatory vaccination among state-owned enterprise employees and communist party members.

The escalation of shots in China — figures from the National Health Commission show 13.7 million vaccines were administered on Friday — means the country is now closer to its target of vaccinating 40% of its population, or at least delivering 560 million doses, by the end of June. As of Sunday, some 393 million doses had been given, with 210 million of those occurring over the past month, a sign of the accelerating roll out, official data show. According to the World Health Organization, China can now administer 20 million doses a day.

“Don’t hesitate, get vaccinated,” Xinhua News agency says on its official WeChat account. “The fact that new infected people are not vaccinated is undoubtedly a wake-up call to all — to build an immunization barrier, vaccination is not an option but a must.”

It’s estimated China will have 900 million to 1 billion people vaccinated by next year, when herd immunity is expected to be reached, the head of the Chinese Center for Disease Control and Prevention, George Fu Gao, said in a recent interview.

China has enforced some of the harshest approaches in the world in terms of putting whole regions into lockdown and people into quarantine, even when only cases in the single digits are detected. Because of the latest outbreak, schools have been halted in the northern coastal city Yingkou in Liaoning while people are banned from leaving their residential compound in certain regions of Anhui. — Bloomberg

Brain gain: New boutiques, deals surge lure expat bankers to Australia

May 17, 2021 | 4:26 pm

Skyline-Building-AUS — Sydney central business district by Jorge Láscar/Flickr/CC BY 2.0

HONG KONG — Australian expatriate investment bankers are returning home in large numbers, lured by the launch of new boutique advisory firms, a sharp pick up in deal-making, and the safety of a country relatively unscathed by the coronavirus pandemic.

Signs of a strong economic rebound from a brief pandemic- induced recession are underscoring a trend that is starting to reverse a long tradition of Australian bankers heading overseas to more tax-friendly global financial centers.

“There is a brain gain happening in Australia, we are acquiring additional knowledge and experience,” said Nick Hughes, Australia co-head at UBS.

Corporate Australia has set a scorching start to 2021, with $6.21 billion worth of M&A (mergers and acquisitions) deals already underway, more than seven times higher than the same period last year, according to Refinitiv data. That puts Australia second in the Asia Pacific in terms of deal value, behind only China, compared to its seventh place ranking over the same period in 2020.

The trend is expected to continue in the near-term, with big-ticket deals such as the possible sale of casino operator Crown Resorts, and the divestment of some financial businesses in the pipeline.

The entry of two boutique firms, Barrenjoey Capital and Jarden, into the fray has fueled a talent war in the country and pushed up wages by at least 20%, making it a rare bright spot for rainmakers.

Jarden, the Australian offshoot of the New Zealand investment bank, has hired eight Australian expatriate bankers traders and analysts as part of its campaign to build out its local franchise, according to a spokeswoman.

Goldman Sachs has had eight Australian staff return from offshore to work in Australia, and Swiss bank UBS has had four returnees in the recent months, according to the banks’ spokeswomen.

Bank of America (BofA)has hired two senior expatriate bankers, the bank’s country head Joseph Fayyad said.

“With new entrants establishing a presence and the incumbents defending their positions, there are more available seats for senior bankers,” Sydney-based Mr. Fayyad told Reuters.

Most of the returnees are landing in Sydney from London and New York. Their experience ranges from mid-career to senior bankers and legal and compliance staff.

They are among a lucky few currently allowed to enter Australia, which closed its international border to almost all travelers but returning nationals and permanent residents months ago as a pandemic shield. The dramatic step has appeared to pay off with Australia recording under 30,000 coronavirus disease 2019 (COVID-19) cases and 910 deaths, far fewer than many other developed countries.

“I think Australia’s outperformance during COVID has put a real spotlight on the benefits of working and living down under, so the combination of more available seats and a greater desire from Australians to come home has really fueled the trend,” said Mr. Fayyad.

‘A BIT OF HUSTLE’
The return of the expatriates counters a long-established trend of Australian finance professionals moving offshore, partly to gain experience and partly to escape Australia’s relatively high personal income tax rates.

Local banking executives said increased onshore deals activity means banks are able to offer fatter paychecks for returnees used to New York and London salaries.

Jarden Australia head of investment banking Aidan Allen said the “brain gain” had helped the emerging bank build its team to almost 100 since its launch a year ago.

“A lot of our talent has come from offshore, people wanting to return home has been a massive opportunity for us,” Mr. Allen said. “We think it’s a point of difference, it’s given us the opportunity to have a more diverse and experienced bench.”

Rival Barrenjoey launched in September with 50 staff and now has about 220 people, a spokeswoman said.

The influx of the expatriates should also be a warning for incumbents, BofA’s Mr. Fayyad said: “Bankers that have been here for some time need to acknowledge there is a new crop of talent who have a bit of hustle, a spring in their step, who want to make their mark.” — Scott Murdoch/Reuters

G7 urged to donate ‘emergency’ supplies to vaccine-sharing scheme

May 17, 2021 | 2:45 pm

covid19-vaccine-6-e1615199968165 — HAKAN NURAL/UNSPLASH

GENEVA — The head of UNICEF on Monday asked G7 countries to donate supplies to the COVAX vaccine-sharing scheme as an emergency measure to address a severe shortfall caused by disruption to Indian vaccine exports.

India has curbed exports of the AstraZeneca vaccine made by its Serum Institute, which had been pledged to COVAX, to be used by the country as it battles a massive second wave of infections.

United Nations agency UNICEF, which is in charge of supplying coronavirus vaccines through COVAX, estimates the supply shortfall at 140 million doses by the end of May and about 190 million by the end of June.

“Sharing immediately available excess doses is a minimum, essential and emergency stop-gap measure, and it is needed right now,” said UNICEF Executive Director Henrietta Fore, adding that this could help to prevent vulnerable countries from becoming the next global hotspot.

As G7 leaders prepare to meet in Britain next month, the head of the World Health Organization last week denounced the “moral catastrophe” of vaccine inequity, urging wealthy countries to donate doses rather than use them for children who are less vulnerable to severe disease.

Citing new research from scientific information and analytics company Airfinity, UNICEF’s Ms. Fore said that G7 countries could donate about 153 million doses if they shared only 20% of their available supply over June, July and August.

This could be done while still meeting commitments to vaccinate their own populations, she said without providing further detail.

COVAX, run jointly by the WHO and the GAVI vaccine alliance, relies heavily on the AstraZeneca shot, which accounts for the bulk of the vaccines earmarked for early rollout as it seeks to provide 2 billion doses this year.

UNICEF said that other manufacturing limitations outside India had also slowed supply of COVAX doses but those delays are expected to be resolved by the end of June. — Emma Farge/Reuters

Long working hours are a killer, WHO study shows

May 17, 2021 | 1:58 pm

GENEVA — Working long hours is killing hundreds of thousands of people a year in a worsening trend that may accelerate further due to the coronavirus disease 2019 (COVID-19) pandemic, the World Health Organization said on Monday.

In the first global study of the loss of life associated with longer working hours, the paper in the journal Environment International showed that 745,000 people died from stroke and heart disease associated with long working hours in 2016.

That was an increase of nearly 30% from 2000.

“Working 55 hours or more per week is a serious health hazard,” said Maria Neira, director of the WHO’s Department of Environment, Climate Change and Health.

“What we want to do with this information is promote more action, more protection of workers,” she said.

The joint study, produced by the WHO and the International Labour Organization, showed that most victims (72%) were men and were middle-aged or older. Often, the deaths occurred much later in life, sometimes decades later, than the shifts worked.

It also showed that people living in Southeast Asia and the Western Pacific region — a WHO-defined region which includes China, Japan and Australia — were the most affected.

Overall, the study — drawing on data from 194 countries — said that working 55 hours or more a week is associated with a 35% higher risk of stroke and a 17% higher risk of dying from ischemic heart disease compared with a 35–40 hour working week.

The study covered the period 2000-2016, and so did not include the COVID-19 pandemic, but WHO officials said the surge in remote working and the global economic slowdown resulting from the coronavirus emergency may have increased the risks.

“The pandemic is accelerating developments that could feed the trend towards increased working time,” the WHO said, estimating that at least 9% of people work long hours.

WHO staff, including its chief Tedros Adhanom Ghebreyesus, say they have been working long hours during the pandemic and Neira said the U.N. agency would seek to improve its policy in light of the study.

Capping hours would be beneficial for employers since that has been shown to increase worker productivity, WHO technical officer Frank Pega said.

“It’s really a smart choice not to increase long working hours in an economic crisis.” — Emma Farge/Reuters

Israel launches dozens of strikes as Gaza fighting enters second week

May 17, 2021 | 12:39 pm

Israel-Palestine-Gaza — REUTERS/MOHAMMED SALEM

GAZA/JERUSALEM — Israel launched dozens of air strikes in Gaza and the Hamas militant group kept up its rocket attacks on Israeli cities in fighting that spilled into a second week on Monday.

International calls mounted for a ceasefire, but there was no sign of any imminent end to the most serious hostilities between Israel and Gaza’s ruling Hamas Islamists in years.

Roads, security buildings, militants’ training camps, and houses were bombed in Israeli attacks that seemed to be focused on Gaza City, witnesses said. The sound of explosions echoed in many parts of the Palestinian enclave overnight.

The Israeli military said fighter jets struck “terror targets,” after rocket barrages from Gaza were fired at the Israeli cities of Beersheba and Ashkelon just after midnight.

There were no immediate reports of casualties on either side of the border.

World concern had already deepened after an Israeli air strike in Gaza that destroyed several homes on Sunday and which Palestinian health officials said killed 42 people, including 10 children, and persistent rocket attacks on Israeli towns.

Injecting more urgency into Washington’s calls for calm, US Secretary of State Antony Blinken wrote on Twitter: “All parties need to deescalate tensions — the violence must end immediately,” after he spoke with Egypt’s foreign minister about ongoing violence in Israel, Gaza and the occupied West Bank.

At a meeting on Sunday of the UN Security Council, the United States said it has made clear to Israel, the Palestinians and others that it is ready to offer support “should the parties seek a ceasefire.”

Prime Minister Benjamin Netanyahu said Israel’s campaign in Gaza was continuing at “full force,” and that deterrence had to be achieved to prevent future conflict with Hamas, which rules Gaza.

“We are acting now, for as long as necessary, to restore calm and quiet to you, Israel’s citizens. It will take time,” Mr. Netanyahu said in a televised address after his security Cabinet met on Sunday.

The Gaza Health Ministry put the death toll in the densely populated enclave of 2 million Palestinians at 197, including 58 children and 34 women. Ten people have been killed in Israel, including two children, Israeli authorities say.

Hamas began its rocket assault last Monday after weeks of tensions over a court case to evict several Palestinian families in East Jerusalem, and in retaliation for Israeli police clashes with Palestinians near the city’s Al-Aqsa Mosque, Islam’s third holiest site, during the Muslim holy month of Ramadan.

SUSTAINED CALM

US President Joseph R. Biden, Jr., said his administration is working with all parties towards achieving a sustained calm.

“We also believe Palestinians and Israelis equally deserve to live in safety and security and enjoy equal measure of freedom, prosperity and democracy,” he said in a pretaped video aired at an event marking the Muslim Eid holiday on Sunday.

In New York, UN Secretary-General Antonio Guterres told the Security Council that hostilities in Israel and Gaza were “utterly appalling” and called for an immediate end to fighting.

He said the United Nations was “actively engaging all sides toward an immediate ceasefire” and urged them “to allow mediation efforts to intensify and succeed.” UN envoys have helped to mediate past truces between Israel and Hamas.

Washington, a strong ally of Israel, has been isolated at the United Nations over its objection to a public statement by the Security Council on the violence because it worries it could harm behind-the-scenes diplomacy.

Jordan’s King Abdullah said his kingdom was involved in intensive diplomacy to halt what he characterised as an Israeli military escalation. The monarch, whose ruling family has custodianship of Muslim and Christian sites in Jerusalem, did not elaborate. Israel and Jordan made peace in 1994.

The Israeli military said that Hamas, an Islamist group regarded by Israel, the United States and the European Union as a terrorist movement, and other armed factions have fired more than 2,800 rockets from Gaza over the past week.

That is more than half the number fired during 51 days in a 2014 war between Hamas and Israel, the military said, and more intensive even than Hezbollah’s bombardment from Lebanon during the 2006 war between Israel and the Iran-backed Shi’ite group.

Many of the rockets have been intercepted by an Israeli anti-missile system, while some have fallen short of the border.

Hamas said its latest attacks were in retaliation for Israel’s “ongoing aggression against civilians,” including the air strike in Gaza City on Sunday that destroyed a number of homes.

The Israeli military said civilian casualties were unintentional and that its jets attacked a tunnel system used by militants, which collapsed, bringing the homes down. Hamas called it “pre-meditated killing.”

On US network CBS’ Face the Nation program, Mr. Netanyahu defended another Israeli air strike a day earlier that destroyed a 12-storey building where the Associated Press and the Al Jazeera TV network had offices.

He said the structure also housed the militant group’s intelligence office and was thus a legitimate target. He said Israel had passed information about the building to US authorities. A US intelligence official did not respond to a request for comment.

Israel had given advance warning to occupants to leave. The Associated Press has condemned the strike and called on Israel to present evidence that Hamas was in the building.

Mr. Biden’s envoy, Hady Amr, arrived in Israel on Friday for talks, and an official with first-hand knowledge of his meetings said on Sunday that he reiterated “full US support” for Israel’s right to defend itself.

Mr. Amr also made clear that Washington understood that “this is clearly not something that can be wrapped up in 24 hours,” said the official, who asked not to be identified.

The envoy also addressed the White House’s Eid event from Jerusalem, saying his mission was to “ease tensions and end the crisis as soon as possible” because “far, far, far too many Palestinians and Israelis, including children, have died.” — Nidal al-Mughrabi and Jeffrey Heller/Reuters

Sun Life remains no. 1 in life insurance sector

May 17, 2021 | 10:45 am

photo 107 2021 04 13 barong (1) — Benedict Sison, Sun Life Philippines CEO & Country Head

Sun Life of Canada (Philippines), Inc., (Sun Life) retains the number one spot as the country’s premier life insurance company in the Philippines.

According to the latest report from the Insurance Commission (IC), Sun Life posted a premium income of PhP39.27 Billion, outperforming its closest contender by a record PhP8 Billion in total premiums.

This is the 10th straight year that Sun Life has maintained its leadership in the industry.
“We dedicate this milestone to our clients whose trust and support motivate us to keep excelling and innovating,” Sun Life of Canada (Philippines), Inc. President Alex Narciso said. “We also share this with our advisors and employees who remained faithful to our mission despite all the challenges we faced last year.”

Sun Life’s success in 2020 was made possible by the company’s quick adaption to the new
environment, where it launched various digital innovations so it may continuously serve its clients.

“Today, our commitment remains as strong as ever. We are here to be the Filipinos’ partner for life as they strive to achieve lifetime financial security and live healthier lives in this new landscape,” Sun Life Philippines CEO & Country Head Benedict Sison said. “We will never tire of discovering the best solutions and services that will enable them to secure their future.”

Apart from retaining the number one spot in the insurance business, Sun Life was also voted last year as the Filipino people’s most trusted insurance brand in Campaign Asia’s “Top 100 Brands in the Philippines” survey. Sun Life was the only insurance company to land on the list among other brands in various categories.

[B-SIDE Podcast] Pharma, agri, and defense: investing in the Philippines

May 17, 2021 | 10:17 am

Investment pledges approved by the Philippine Economic Zone Authority (PEZA) dropped by nearly a fifth last year after lockdown restrictions dented investor confidence.

In this episode of B-Side, PEZA Director General Charito B. Plaza tells BusinessWorld reporter Jenina P. Ibañez how the investment promotion agency is planning a comeback over the next few years.

TAKEAWAYS

Idle land should be converted into ecozones.

Ms. Plaza said the country should accelerate rural progress by creating economic zones in the countryside. The agency partnered with the Union of Local Authorities of the Philippines to identify areas they could convert into ecozones.

“We based it on the land potential and the resources of the plan. We don’t have to destroy land — if it’s an agricultural land, we call it agro-industrial economic zone. If it’s a fishing ground, we have the aquamarine economic zone,” she said.

Countries are using ecozones to compete for investors.

The passage of the Corporate Recovery and Tax Incentives for Enterprises (CERATE) Act that cuts corporate income tax and rationalizes tax incentives clarifies available incentives for interested investors, she said. But she also hopes that the FIRB (Fiscal Incentives Regulatory Board) will not create more red tape.

The law expanded FIRB’s oversight power granting tax incentives to government-owned and -controlled corporations and projects approved by investment promotion agencies. The agencies grant tax incentives for projects with capital of less that P1 billion, but the FIRB committee can raise the minimum capital threshold.

“Red tape will slow down the processing of investment application because it will defeat the purposes of PEZA as a one stop shop,” Ms. Plaza said.

Manufacturers are interested in PEZA’s defense economic zones.

PEZA has identified seven or eight military reservation areas to convert into defense industrial complexes for the manufacturing of military equipment.

With some manufacturers already showing interest, the agency is aiming for amendments on military reservation proclamations from the Office of the President before the end of the Duterte administration in mid-2022.

Outdoor building solutions for your commercial and residential space

May 17, 2021 | 9:30 am

In creating your home’s or business’s exterior, there are a lot of factors to consider aside from the aesthetics. The outdoor space is more exposed to different elements and weather conditions—so it is important to take note of the durability, usage, functionality, and of course, the style it provides to the overall look of your space. Here are some outdoor products from P.tech that are surely beneficial for any commercial or residential space:

Roofing

In upgrading the overall look of your exterior, roof tiles are a top-notch choice. These types of roofing are designed to provide energy efficiency, longevity, and easy maintenance. These are lighter than other roofs as it is made from high-quality steel with a sanded finish for added style and safety while installing.

To prevent leaks from occurring, it is also essential to install some roof valleys to save you unnecessary damage in the future. It will create runoff pathways to direct water flow from the roof planes into a valley trough. These roof valleys are made from top-grade quality materials ensuring long-lasting protection for your roof.

Flooring

For long-lasting flooring, it is a must to choose something that can withstand extreme weather elements as well as a high volume of foot traffic in busy areas of your home and business space. One of the most highly recommended options is the cement tiles. It is made with high-grade materials that are 100% waterproof and are highly durable, This type of flooring is also designed with a matte surface to ensure non-slip advantages while perfectly mimicking real wood or stone for a more natural feel.

Another safe and excellent addition to the floor is rubber tiles. These are designed to prevent breaking your floors due to heavy impacts. It comes with top-notch features including water, compression, and impact resistance, anti-skid, shock absorption, and large friction. This type of tile is very easy to install since it requires no glue or adhesive—just like laying out a puzzle mat.

Aside from rubber tiles, another type of flooring is the interlocking drainage rubber mat. It is made to provide a safer and easier solution to spaces that are normally wet and slippery. The holes in the rubber mat allow water to be filtered while keeping the surface dry and safe for small children and the elderly. Installing is also hassle-free since you only need to interlock the sides to create a wide rubber matted surface.

Landscape

If you’re aiming for a cleaner and safer option to install in your outdoor space, opt for some high-quality eco grass. One of the best qualities of faux grass is it never withers. Maintaining is also effortless since lawn mowing and watering are not essential to keep it in good shape. You can ensure a green, vibrant, and aesthetically pleasing outdoor space for years.

Walls

An outdoor wall panel is an excellent way to give any outdoor structure or building an attractive finish. It offers the quality, feel, and characteristics of wood, but is more robust and eco-friendly. It is very simple and convenient to install due to its profile with a standard size

Another exemplary addition to your outdoor space is the wall cladding. It is made with long-lasting strength, resistance to water, moisture, and decay. It is also very easy to maintain, cost-effective, and provides an extra layer of insulation. The overall appearance of your outdoor space is largely determined by the exterior wall cladding, it can turn your walls into an exquisite and modern structure.

Doors

Apart from its sophisticated look, a steel door is also one of the most durable kinds of door materials making it safer and more secure. It can withstand strong weather conditions and is highly resistant to warping and distortion. To add protection to your steel doors, consider installing a door canopy. It is made to prevent heavy rains, strong winds, as well as scorching heat from the sun from causing extensive damage to your doors and windows. It will also prevent other elements in your outdoor space from degrading quickly saving you more repairs in the future.

Start your building or renovating projects and get all your needed materials from P.tech, exclusively available at Wilcon Depot. Visit any of their 65 stores nationwide and explore the limitless product selections that Wilcon offers ranging from Tiles, Sanitarywares, Plumbing, Furniture, Home Interior, Building Materials, Hardware, Electrical, Appliances, and other DIY items.

Adhering to health and safety protocols to fight against COVID-19, Wilcon continuously implements necessary precautionary measures inside all of its stores to ensure their employees and valued customers’ safety, health, and well-being a priority.

You can also browse their Digital Catalogue and shop conveniently while at home through your personal shopper with the Browse, Call, and Collect/Deliver service. BROWSE the items you want to purchase at shop.wilcon.com.ph and www.wilcon.com.ph, CALL/Viber/text the Wilcon branch of your choice, and schedule a COLLECT/DELIVER. For the list of participating stores with their pick-up and delivery contact details, click this link: www.wilcon.com.ph/content/328-bcc-branches.

Another shopping alternative is the Wilcon Virtual Tour. An online shopping option wherein customers can contact the nearest Wilcon store via Facebook Messenger App. Customers can contact the nearest stores, and the Wilcon team will take you on a virtual tour where you can explore the available products inside their physical stores.

Wilcon also provides contactless payment options to its customers like bank transfers, GCash, PayMaya, InstaPay, PesoNet, WeChat, and Alipay for customers’ convenience.

For more information about Wilcon, you can log on to www.wilcon.com.ph or follow their social media accounts on Facebook and Instagram, and subscribe and connect with them on Viber Community, LinkedIn, and YouTube

Philippines’ further shift to clean energy

May 17, 2021 | 9:04 am

By Adrian Paul B. Conoza, Special Features Writer

The country’s energy grid continues to shift away from traditional sources and further to renewable ones. This was highly noticed in the past months as concerns on individual health and environmental welfare heightened amid the coronavirus disease 2019 (COVID-19) pandemic.

Hearing the louder call to harness cleaner sources of energy, both public and private sectors have strengthened their commitments to energize the country through renewables.

On the government’s part, the Department of Energy (DoE), through Secretary Alfonso G. Cusi, reaffirmed its commitment last year to develop the country’s renewable resources in fulfillment of the Renewable Energy Act of 2008.

In line with this commitment, a very notable move made by the DoE in 2020 was its moratorium on endorsements for greenfield coal power plants. Declared by Secretary Cusi last October, the moratorium is driven by the need for the country “to shift to a more flexible power supply mix.”

“This would help build a more sustainable power system that will be resilient in the face of structural changes in demand and will be flexible enough to accommodate the entry of new, cleaner, and indigenous technological innovations,” Mr. Cusi said in a statement.

Clean energy’s share
According to the DoE, renewable energy (RE) accounted for 33% of the country’s Total Primary Energy Supply in 2019. In terms of the country’s power capacity mix, meanwhile, Mr. Cusi shared in a virtual Energy Investment Forum last December that renewable energy’s share as of 2020 stands at 29.2%, with hydro contributing the most at 14.6% and followed by geothermal 7.5%, solar at 4%, wind at 1.7%, and biomass at 1.4%.

Contributing to this share are leading energy players which have taken the initiative to harness the country’s renewable resources. One of these players is Aboitiz Power Corp. which is regarded as a pioneer in renewables when it started its renewable portfolio with hydropower as early as the 1970s. As it expanded to other resources within the category, AboitizPower, together with its partners, is the Philippines’ largest owner and operator of renewable energy to date, with a total installed capacity of more than 1,500 megawatts (MW) to date.

“Our renewables portfolio, called Cleanergy, has a mix of RE technologies such as geothermal, hydro, and solar to address varying energy demands,” AboitizPower further explained. “This allows us to be more flexible and responsive to our customers’ requirements,” it added.

First Gen Corp., meanwhile, has an RE portfolio that has a large share of geothermal energy and is coupled with hydro, wind, and solar. Its latest annual report shows that geothermal takes 34% of First Gen’s installed capacity by source, while hydro, wind, and solar combined takes 8%.

On the other hand, MERALCO PowerGen Corp. (MGen) — through its RE unit MGen Renewable Energy, Inc. (MGreen) — has a portfolio led by solar, with its 50-MW solar plant in San Miguel, Bulacan, whose operations have just started this month.

Bigger targets
Alongside a stronger commitment to renewables, new targets have been set to further ensure the goal is attained. Earlier in February, the DoE renewed its RE targets in its latest National Renewable Energy Program (NREP). From a 54% target by 2040, announced last December, the updated NREP proposed a target of 55.8% by 2040 and 37.3% by 2030. The current NREP, spanning from 2011 to 2030, targets to bring the share of RE to 35% by the end of that period.

Along with this, the Philippines revised its target to reduce greenhouse gases (GHG) by 75% between 2020 and 2030. Among other gases, GHG covers carbon dioxide and methane, which have been observe to come from using traditional energy sources.

The country’s Nationally Determined Contribution to the UN Framework Convention on Climate Change, submitted earlier in April, states that under its 75% target, 2.71% is unconditional, or will be undertaken by the government through domestic resources.

The remaining 72.29%, meanwhile, is conditional on the support of climate finance, technologies and capacity development provided by developed countries, as prescribed by the Paris Agreement. Moreover, this portion represents the country’s ambition for GHG mitigation for several sectors, including energy.

AboitizPower expressed its support for the government in meeting these targets that aim to significantly reduce the country’s carbon footprint. “With decades of extensive experience and proven track record in RE, AboitizPower is well-positioned to actively participate in the government’s RE programs and significantly contribute to the country’s RE targets,” the firm added.

AboitizPower is also constantly innovating and adapting to new RE technologies to ensure that the current and future RE needs of the country will be served, the firm continued.

In the next 10 years, AboitizPower is further growing its Cleanergy portfolio as it heavily invests in renewable energy, especially wind, hydro, and solar, as well as other technologies such as battery. “This is in support of the government’s efforts to build the country’s RE market and also our contribution to the global RE targets,” the firm explained.

Also, MGen’s parent firm Meralco, through Chairman Manuel V. Pangilian, said in a BusinessWorld report that the company looks forward “to many more investments in renewables, particularly solar, as we attempt to achieve that balance in fuel sourcing, which will ultimately be biased towards renewables”.

AboitizPower also notes certain programs already set in place to build and grow the country’s RE market. These are the Renewable Portfolio Standards, which require power distributors to source a certain portion of their electricity requirements from eligible RE sources; and the Green Energy Option Program (GEOP), which provides end-users with the option to choose RE sources.

“We are optimistic that these programs will encourage more consumers to switch to RE; and as a pioneer and leader in the RE space, we are ready to serve the growing RE demand,” the firm pointed out.

First Gen Vice-President for Power Marketing, Trading and Economics Carlos Lorenzo L. Vega announced early in March that it will make around 690 MW of geothermal power available for the GEOP.

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