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Fire and thread: Bayeux-inspired Game of Thrones tapestry unveiled in France

BAYEUX, FRANCE — The French town of Bayeux has been home for nearly a millennium to a tapestry depicting a bloody battle for power.

Now it has another.

An exhibition featuring a tapestry illustrating the events of hit HBO TV show Game of Thrones opened in Bayeux, Normandy, on Friday — just down the road from the museum where its 11th century inspiration is housed.

The tapestry was created in Northern Ireland, one of the principal filming locations for the series. Around 30 stitchers worked for some 1,500 hours on the stretch of linen, which begins with King Robert Baratheon visiting the Starks in Winterfell.

Some 87 meters (95 yards) later, it ends in fire and blood with the final, controversial, scenes of the 8th season.

Depicting all that gore using jacquard threadwork was not easy, said project chief embroiderer Valerie Wilson.

It would have been a challenge that also faced the medieval embroiderers, who created the famous 70-meter Bayeux tapestry to recount the invasion of England by William the Conqueror. The work brings to life scenes such as the 1066 Battle of Hastings, where Harold of Wessex is shown dying with an arrow to the eye.

“The Game of Thrones tapestry references the Bayeux tapestry stylistically and in terms of some of the motifs that have been used and the way that the story unrolls in a linear fashion,” said Wilson.

The two tapestries also address a common theme, said Antoine Verney, chief curator of the Bayeux Tapestry Museum. “It’s whether we can justify violence to claim power,” he said.

The show was based on the Song of Ice and Fire books by George R.R. Martin.

The Game of Thrones exhibition in Bayeux runs from Sept. 13 to Dec. 31 at the Hotel du Doyen, on the site where the Bayeux Tapestry itself was originally displayed before its eventual move to the dedicated museum nearby. — Reuters

ECB won’t hit bond buying limits for ‘extended period of time’: Lane

LONDON — The European Central Bank’s (ECB) decision to buy €20 billion of bonds a month in its restarted stimulus program should allow it to run for an “extended period of time” before reaching self-imposed limits, the central bank’s chief economist said on Monday.

The ECB has put limits on its bond buying to ensure it does not own too large a share of a country’s debt or individual bonds.

“Twenty billion (a month) doesn’t cause an issue with the limits for an extended period of time,” Philip Lane said at an event hosted by Bloomberg on Monday.

He added the bank’s policy makers could also “revisit” its limits if they “interfered with the delivery of monetary policy.” — Reuters

How PSEi member stocks performed — September 17, 2019

Here’s a quick glance at how PSEi stocks fared on Tuesday, September 17, 2019.

 

DoLE proposes 4Ps as source of funds for unemployment relief

THE Department of Labor and Employment (DoLE) has sounded out the Senate on a plan to reduce the cash transfer budget for 2020 and shifting the funds to a program to provide relief to retrenched workers.

At a DoLE budget hearing, Labor Secretary Silvestre H. Bello III said the department needs an additional P2 billion for its Tulong Panghanapbuhay sa ating Disadvantaged/Displaced Workers Program, or TUPAD. He told Senators that the House is discussing reduced allocations for the Pantawid Pamilyang Pilipino Program (4Ps) as a possible source of funding for the DoLE program.

The 4Ps, targeted at the poorest and most vulnerable families, are administered by the Department of Social Welfare and Development (DSWD).

“There is a proposal in the House (to) lessen the budget for the 4Ps of the DSWD and transfer that to TUPAD,” he said.

Mr. Bello has noted that DoLE’s budget for next year fall significantly to P14.22 billion under the spending lan approved by the Department of Budget and Management (DBM). The spending plan includes a P2.1 billion cut in TUPAD funding to P8.5 billion.

In the first quarter the 4Ps benefited about 4.8 million households.

TUPAD program provides emergency employment to displaced, underemployed, and seasonal workers after calamities or involuntary retrenchment.

Despite the budget cut, DoLE has set a target of 47,971 beneficiaries for the program.

According to Mr. Bello, DoLE also needs funding to expand hiring, including TUPAD officers and labor inspectors enforcing the rules against the use of temporary workers.

“While we need additional funds for the actual employment programs, we also need administrative support because for us to implement these programs we need warm bodies to do the implementations,” he said.

DoLE hopes to inspect the employment practices of 64,000 establishments with a projected 70% compliance rate, and targets 35,786 livelihood beneficiaries assisted through the DoLE Integrated Livelihood Program (DILP) and 840,000 Overseas Filipino Workers (OFWs) assisted through its on-site welfare and repatriation services. — Gillian M. Cortez

Key legislator calls GIE ecozone perks major source of tax leakage

REPRESENTATIVE Jose Ma. S. Salceda, who chairs the House Ways and Means committee, said he does not support the continuation of taxes based on Gross Income Earned (GIE), calling it a source of abuse and adding momentum to the government’s bid to end GIE tax incentives enjoyed by economic zone locators.

On Friday, the House of Representatives approved on third and final reading House Bill 4157 or the Corporate Income Tax and Incentives Rationalization Act (CITIRA) which removes the perpetual 5% tax on GIE and limits income tax holidays to three years.

Mr. Salceda, who represents the second district of Albay, said that GIE is the “mother of abusive transfer pricing.”

Transfer pricing is practiced by companies that transact with affiliates and is regulated by global accounting standards, which require that such transactions reflect a fair, commercial, “arms-length” price. A parent company’s sales to a foreign affiliate could be priced in such a manner as to cause the affiliate to lose money or minimize earnings, thereby evading tax.

“The data clearly establish that abuse of transfer pricing has resulted in tax leakages of P295.8 billion from 2011 to 2017,” Mr. Salceda said.

He added that GIE “unfairly favors” certain industries over others.

“GIE is unfavorable to those with high gross margins, such as service-oriented firms with virtually no cost of goods sold. GIE unfairly disadvantages firms whose main source of revenue is job creation (such as business process outsourcing (BPO) companies) because they do not spend on raw materials,” Mr. Salceda said.

Mr. Salceda also said that removing GIE will “improve the effectivity of the deductions-based incentives that encourage job creation, infrastructure, research and development, and workers’ training, and use of domestic products.”

HB 4157 seeks to cut the current 30% corporate income tax rate — the highest among major Asian markets — by one percentage point every other year until it falls to 20% in 2029.

Amendments to the original version of the bill grant businesses near Metro Manila a four-year income tax holiday and three years of reduced corporate income tax, while those farther away will enjoy a proposed six-year income tax holiday and four years of reduced corporate income tax.

“Removing the GIE will improve efficiency. The GIE makes it difficult to determine ‘true’ cost of goods, especially for service industries. Businesses with legitimate operating and administrative costs will not be able claim these costs as deductions, increasing their tax burden,” said Mr. Salceda. — Vince Angelo C. Ferreras

House could tweak DoE budget to achieve total electrification

SPEAKER Alan Peter S. Cayetano said Tuesday that the House is considering possible augmentations to the budget for the energy, education, and health sectors.

“Maaring magkaroon talaga ng (It looks like the budget will have) adjustments, but education, health, energy, agriculture ang mukhang titignan (are what we are looking at),” Mr. Cayetano said in chance remarks to reporters.

Mr. Cayetano said the Department of Energy (DoE) might be given more funding to address the problem of unavailable of electricity in some areas.

“I don’t think may dahilan in this modern age na may lugar sa Pilipinas na walang kuryente. (There is no reason in this day and age for some parts of the country not to have electricity) Of course, alam din naman natin minsan napakalaking lugar, dadalawa bahay (We also need to consider that some large areas may have few residents), so yung expense na lalagyan mo ng kuryente yun (which makes it not viable to invest in electrification). But we are talking in general, dapat walang municipality or barangay na di energized (no municipality or barangay should be without power). So ang pondo ata diyan ay P1 billion. So we are asking kung magkano ’to complete it in two or three years (We have a preliminary figure of P1 billion and are trying to find out how much is needed to get it done in two or three years),” he said.

The DoE has a proposed budget of P1.40 billion for 2020. Of this, P82.4 million will be allocated for national and regional energy planning program; P112.5 million for renewable energy development; P32.3 million for energy efficiency and conservation; and P91.7 million for electric power industry development.

He noted that the House is also looking at the budget for the K to 12 program in oder to make senior high school graduates more employable after graduation.

“Tinitignan namin yung DepEd, especially yung K to 12 tracks. Kaya tayo pumayag ng two years, kasi pag graduate, dapat accredited na at yung diploma ng bata ay di lang sa DepEd, kundi pwede na siya sa field na pinili niya yung track (We are also looking at the Department of Education’s programs, especially K to 12. We agreed to an additional two years for high school because we were told that graduates would have the proper credentials to work after graduating from the student’s chosen track),” Mr. Cayetano said.

For 2020, the proposed budget for the K to 12 program is P2.5 billion, lower than the P3.2 billion allocation in 2019.

The health sector will also be considered for budget realignment.

“Sa health, we are looking at the primary healthcare system. Sa dami ng problema sa kalusugan, ano ba ang dapat tutukan at pinaka-effective. Kung di kaya ang Pilipinas, mag-pilot projects tayo,” said Mr. Cayetano.

The Department of Health has a proposed budget of P88.72 billion.

To recall, Mr. Cayetano said earlier that he will support at least P9 billion in additional funding for the procurement of palay, or unmilled rice, to support the market and prop up farmer incomes.

He also backed additional allocations for upgrading military and police camps

The Speaker said that minimal changes in the budget might be discussed on Friday as the House will tackle also lump sum funds.

“Probably three or four minimal changes lang by Friday kapag nagbotohan. Most of the major changes baka sa bicam na. None of these will be in the category of pork or lump sum na paghahatian ng mga kongresista,” said Mr. Cayetano. — Vince Angelo C. Ferreras

Brokers reject blame for BoC corruption

CUSTOMS BROKERS said they reject any attempts by the government to pin blame on them for corruption at the Bureau of Customs, with the industry saying it will “fight” to defend the livelihood of its nearly 12,000 licensed members and proposed instead that Malacañang focus on modernizing the bureau’s systems.

Officials from the Chamber of Customs Brokers were responding Tuesday to a threat from President Rodrigo R. Duterte to remove the accreditation of brokers in order to “cut corruption overnight.”

“They can expect a fight from us licensed Customs Brokers. We are 11,900 strong,” Chamber of Customs Brokers president Adones S. Carmona said in an interview on ANC television.

He added that brokers go through a thorough training and vetting process to obtain their professional licenses.

“What will be affected are the students who enrolled in (the) Bachelor of Science in Customs Administration (program) in over 85 universities and schools… It’s a four-year course and they need to review for a six-month period for the licensure examination… We will really fight head on because we are fighting for our profession and for our survival.”

The President’s Spokesperson Salvador S. Panelo did not immediately reply when asked to comment.

Philippine Association of Customs Brokers in Education president Norberto V. Castillo said in the same program that if the government is serious about fighting corruption in the BoC, it should “upgrade the technology and professionalize the ranks (of the bureau).”

He noted that the President cannot simply order the removal of brokers because the government is bound by law to implement the Customs Brokers Act of 2004.

In a news conference at the Palace last week, Mr. Duterte said: “Take away the brokers and you would have cut corruption overnight.”

“Itong sa Customs, ang gusto ko, wala na ang brokers. Pagka may brokers, may corruption talaga ‘yan. Ngayon, sinasabi ko, sabihin mo sa Pilipino, kung gusto talaga nila walang corruption, tanggalin na natin ‘yan… (I want brokers gone from Customs. When you have brokers, you have corruption. I want to tell the people that their removal is key to eliminating corruption)” the President added.

Mr. Carmona said Customs brokers should not be singled out when corruption is also rampant in other government agencies. “It is unfair because the President had singled us out. There is corruption in the government… in the BIR (Bureau of Internal Revenue). Will he also do away with the CPAs (Certified Public Accountants)? In PhilHealth, do they do away with medical practitioners?” he said.

Mr. Duterte, in his annual address to Congress in July, denounced persistent government corruption, noting the recent unearthing of massive fraud in the public health insurance system.

“Huge amounts of medical funds were released to cover padded medical claims and imaginary treatment of ghost patients. I am grossly disappointed,” he said.

The President also claimed to have fired and caused the resignation of more than a hundred officials and appointees of government “without regard to relationship, friendship and alliance.”

He also promised a comprehensive cleanup at the BoC. — Arjay L. Balinbin

BFAR sees aquaculture making up for weakness in ocean fishery

THE Bureau of Fisheries and Aquatic Resources (BFAR) said the fisheries industry’s performance in the third quarter will be “fair to good,” with the aquaculture sector expected to take up any slack should ocean fisheries show any weakness.

“Kung humina sa third quarter ang dagat, mayroon naman tayong produksyon sa aquaculture (If the sea-based fisheries are weak, we’re counting on aquaculture) so we are projecting fair to good production. We will see at the end the year. I hope we can get that 2% (target growth),” BFAR Director Eduardo B. Gongona told reporters.

In the second quarter, fisheries output rose 1.90% year-on-year led by yellowfin tuna, round scad, tiger prawn, and tilapia, which brought growth in first-half production to 1.51%.

In volume terms, production hit 1.1 million metric tons (MMT), up 4% year-on-year.

Commercial fishery production declined 2.4% to 280,810 metric tons (MT), that of aquaculture fell 0.3% to 548,390 MT. Production in municipal waters rose 4.3% to 309,860 MT.

“Nagfo-focus tayo sa aquaculture ngayon (We are focused on aquaculture now)… we believe na iyan ang maga-angat ng palaisdaan (this will lift the fisheries sector) within the next three, five, 10 years… kasi nagre-rehabilitate tayo ng (because we are rehabilitating) municipal waters, which is the most productive sector,” Mr. Gongona said.

He noted that the Department of Agriculture aims to increase production and income of farmers and fisherfolk, and as such the agency has realigned its programs to help achieve the DA’s goals.

“Nag-concentrate muna kami doon sa maraming ani, maraming kita kasi (We are concentrating on segments with the potential for large harvests and profit since they) generate more employment,” he said. — Vincent Mariel P. Galang

World Bank releases $280 million for PRDP

THE Department of Agriculture (DA) has obtained $280-million worth of funding from the World Bank to implement the Philippine Rural Development Project (PRDP).

“The World Bank has approved an additional $280 million for PRDP,” Agriculture Secretary William D. Dar said in a statement.

PRDP is administered by the DA and jointly funded by the World Bank, the national government, and participating local government units (LGUs). It aims to establish an up-to-date, value-chain oriented and climate-resilient agriculture and fisheries industries.

The projects are executed with LGUs and the private sector, which are expected to help provide key infrastructure, technology and information to boost income, productivity, and competitiveness in target areas.

Since it began in 2013, the program has received a total of $760 million from the World Bank.

Mr. Dar said separately that $500 million was also obtained to implement a Provincial-Led Agriculture and Fisheries Extension System and $300 million to fund inclusive development projects in Mindanao provinces.

The DA also handed out P480.24-million worth of machinery and other inputs to members of irrigator and farmer’s associations in Northern Mindanao.

“The assistance is part of the government’s provision for equipment to increase productivity and income of rice farmers and make them more competitive,” the DA said. — Vincent Mariel P. Galang

Davao business sector calls for measures to keep out swine disease

DAVAO CITY — The Davao City Chamber of Commerce and Industry has called on government to implement measures to prevent the spread of African Swine Fever (ASF) to Mindanao.

In a press statement Monday, Arturo M. Milan, president of the business group, said there is a need to protect the hog industry of the island by securing the virus’s possible entry points.

“Given the potency of this ASF virus, we believe that strict control measures should be implemented in all ports and airports to prevent ASF-infected pork from entering Mindanao,” Mr. Milan said.

He said Mindanao has the ability to keep out diseases like this, after having prevented the entry of foot and mouth disease.

“We need to improve these measures since just one pig can infect the pork and swine industry, and may cause loss of jobs,” he said.

Last week, the city government, through acting mayor Sebastian Z. Duterte, issued an executive order forming a body that will come up with measures to prevent the entry of ASF.

In Executive Order 37 creating an African Swine Fever Task Force, Mayor Duterte said: “There is a need to create a body that will look into the formulation of appropriate policies and implementation of programs to protect the public and the swine industry from the threats of ASF in Davao City.”

Eduard C. So, president of the Davao Hog Farmers Association, added that only pigs can be affected by ASF, and not humans consuming infected meat.

“(ASF) has no effect on humans, only on swine,” Mr. So said in a forum. He added that Mindanao’s hog farms send about 40% of their output to areas outside Mindanao, particularly the Visayas.

Mr. So said that despite the lack of danger to humans, the industry has felt the pinch after news that the disease has infected pig farms in Luzon, although he said it is hard to quantify the impact. — Carmelito Q. Francisco

High-grade nickel ore key to filling Indonesia market gap — MGB

THE nickel industry’s ability to supply high-grade products will be key to exploiting the market opportunity resulting from Indonesia’s nickel ore export ban, the mining regulator said.

“We can capitalize on the opportunity… we have nickel. What worries me is if the market will insist on high-grade nickel,” Mines and Geosciences Bureau (MGB) director Wilfredo G. Moncano told reporters.

The MGB estimates that nickel ore production grew 3% to 11.306 million dry metric tons (DMT) in the first half of 2019.

The United States Geological Survey ranks Indonesia the top nickel producer in 2018 with 560,000 tons, followed by the Philippines with 340,000 tons. Both countries’ top export market for nickel is China.

Mr. Moncano noted that Philippine nickel is mostly lower-grade, but added that international buyers may still have an interest in ores with nickel content of between 1.3% and 1.5%.

Reuters reported on Monday that a major nickel mine in Tawi-Tawi, which produces high-grade ore, has suspended operations indefinitely due to an audit being conducted by the local government.

The audit is part of the preparations to implement the Bangsamoro Responsible Mining Law.

The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) suspended operations of all four mines in the area in a memorandum order dated Aug. 5.

It said 90% or 2.34 million wet metric tons (WMT) of high-grade ore exported to China came from Tawi-Tawi in 2018.

Mr. Moncano said suspended mining companies should speedily comply with the corrective measures required to resume production.

“If they expedite action on the corrective measures, then on the part of MGB, bibilisan namin namin ang (we will expedite) validation,” he said.

As of August, two companies are awaiting the lifting of MGB suspensions — Zambales Diversified Metals Corp. and Strong Built Mining Development Corp. Five are still complying with an agency resolution dated Nov. 12, 2018 — Ore Asia Mining and Development Corp., Krominco Inc., Mt. Sinai Exploration and Development Corp., Wellex Mining Corp., and AAMPHIL Natural Resources Exploration and Development Corp.

Three companies have had their suspension orders lifted — Berong Nickel Corp., Carrascal Nickel Corp., and Emir Mineral Resources Corp.

Three mining companies are appealing their suspensions to the Office of the President — Claver Mineral Development Corp., Oriental Synergy ining Corp., and Libjo Mining Corp. — Vincent Mariel P. Galang

PAGCOR threatens to cancel licenses of tax-evading POGOs

THE gaming regulator said online gaming firms that evade taxes could face cancellation of their licenses and labor inspections, among other measures.

The Philippine Amusement and Gaming Corp. (PAGCOR) said in a statement Monday that Philippine Offshore Gaming Operators (POGOs) that are not complying with tax rules could face “the imposition of interest on outstanding arrears, forfeiture of performance bonds, imposition of demerits/administrative sanctions and charging of cash penalty, cancellation of license.”

PAGCOR Chairperson and CEO Andrea D. Domingo said the regulator has issued letters to all POGOs and service providers seeking their support for the Department of Finance’s (DoF) crackdown on POGOs that are not remitting taxes withheld from their foreign workers.

Meanwhile, the Department of Labor and Employment’s (DoLE) Bureau of Local Employment (BLE) director Dominique Rubia-Tutay said her agency will be inspecting companies for compliance with immigration, work permit and tax rules.

“We will validate and inspect their presence and their work in the company and then check if they’re compliant on immigration, work permits and also taxation,” she told reporters after the DoLE budget hearing in the Senate on Tuesday.

Ms. Tutay said that among the 177 POGO service providers inspected as of June, 8,371 foreign workers were found to be working without Alien Employment Permits (AEPs), accounting for 20% of the sector’s work force of 41,742.

Of those with no work permits, only 1,693 foreign workers were able to comply within a given deadline.

She estimates that an additional 6,678 foreign workers could be working without AEPs. — Beatrice M. Laforga

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