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Striegl not about done doing combat sports

By Michael Angelo S. Murillo, Senior Reporter

PARLAYING his wares as a combat sports athlete for more than a decade now, Mark “Mugen” Striegl said he is not about done and continues to look for the next mountain to climb.

Speaking at a recent episode of Lucis Channel’s web show, Mr. Striegl, 31, shared that combat sports have been generally good to him all these years and that he is happy with the way things have panned out for him in them.

But he was quick to say his journey is still ongoing and that he is not yet satisfied, looking to continue to challenge himself.

“I’m happy with the way my career has turned out but I cannot be satisfied. As an athlete, when you get satisfied that is when the end is near. You cannot be satisfied, especially as a professional fighter. I’m always looking for the next mountain to climb,” said Mr. Striegl, the reigning Universal Reality Combat Championship (URCC) featherweight champion.

Among those he still wants to accomplish is the chance to step in the famous Octagon of the Ultimate Fighting Championship (UFC).

“I want to get a shot at the UFC, one of the premier organizations in the world. That’s my goal,” he said.

Started doing mixed martial arts as a professional in 2009, Mr. Striegl (18-2) has been part of a lot of organizations, including ONE Championship and Pacific Xtreme Combat, apart from the URCC.

Growth continues for him as well as a fighter, he said, developing his game to be ready no matter the challenge ahead.

Most recently, Mr. Striegl competed for the Philippines in the martial art of sambo and won gold in the Southeast Asian Games in 2019.

He said it was a great experience for him competing for the country and that the success they had in sambo as a team speaks volume of the potential of Filipinos to excel in it.

“It was a great experience. I have been competing in MMA and representing the Philippines but the SEA Games was something and I believe sambo will be great for Filipinos to take and something we can succeed in,” said Mr. Striegl.

The Philippine sambo team won six medals in the SEA Games last year here, including two gold hardware.

Mr. Striegl, however, lamented how the coronavirus disease 2019 (COVID-19) put the momentum that they, and Philippine sports in general, have built to a halt.

But he remains optimistic that eventually things would get back to their proper places and they get to resume what they are doing.

Having the kind of success he has had in combat sports, Mr. Striegl said he is keen on suggesting to one to take fighting as a career only if one’s passion lies in it.

“As far as being a career, I would say it is a great sport, tough sport. I would only advise it to people if they are truly passionate about it. You really have to be into it otherwise you cannot be successful in it. If you’re thinking of making it just a hobby it’s great, but if you want to make it a career, you really have to be obsessed about it to make a run at it,” Mr. Striegl said.

Bayern clinches Bundesliga title

BERLIN — Bayern Munich claimed its eighth consecutive Bundesliga title by beating Werder Bremen, 1-0, away thanks to Robert Lewandowski’s first-half strike to open up an unassailable lead at the top of the table on Tuesday.

The league’s top scorer latched onto a superb Jerome Boateng cross and fired in his 31st goal of the campaign just before the break to send the Bavarians 10 points clear of second-placed Borussia Dortmund, who has three games left.

In a roller-coaster season that saw coach Niko Kovac fired in November with Bayern off the leading positions and Hansi Flick taking over, they turned it around after the winter break, are unbeaten since and won their last 11 straight league matches.

Bayern remained unruffled by the two-month break due to the coronavirus disease 2019 pandemic and beat Dortmund last month to overcome the last major obstacle en route to a 29th Bundesliga title since the introduction of the top division in 1963.

It was Bayern’s 30th German league crown overall. It could also add the German Cup, having booked a spot in the July 4 final where it faces Bayer Leverkusen, and has also won its Champions League round of 16 first leg 3-0 at Chelsea.

“It is sensational the kind of football we have played in the past few months,” Flick said. “You could feel the passion the joy for the game and the team spirit.”

“We have now taken the first step and reached our big goal,” he added after the team celebrated its triumph in front of empty stands due to the pandemic.

“But we also have the Cup in our sights and then obviously the Champions League games are something you cannot plan for and we still need to survive the Chelsea game.”

Second-bottom side Werder, desperate to avoid a second relegation after 1980, was bold and matched the Bavarians in the first half for speed and possession.

It also had the better chances until Bayern winger Kingsley Coman’s glancing header in the 24th.

The Bavarians gradually gained ground and broke the deadlock with defender Jerome Boateng’s superb pass for Lewandowski, who turned in the box and fired home in the 43rd minute.

The Polish international, who scored on his return from suspension, is chasing the 40-goal Bundesliga record for one season set by Bayern’s Gerd Mueller in 1972 and had a string of good chances after the break to add to his tally.

But it was keeper Manuel Neuer who proved key for Bayern after they were left with 10 men for the final 10 minutes following the dismissal of Alphonso Davies, making a sensational one-handed save to ensure yet another league title. — Reuters

Filipino boxer Plania upsets Greer in Las Vegas

Mike Plania of the Philippines scored a huge upset victory over top bantamweight prospect Joshua Greer, Jr. of the United States in their fight on Wednesday (Manila time) at the MGM Grand Conference Center in Las Vegas.

Had the odds against him entering the contest, “Magic Mike” of General Santos City impressively showed his mettle against his highly favored American opponent en route to the majority decision victory in their scheduled 10-rounder, 94-94, 96-92 and 97-91.

Mr. Plania, 23, had a strong start, dropping Mr. Greer to the canvas just a minute into the opening round off a solid left hook.

He would continue to dictate the tempo thereafter, even scoring a second knockdown in the sixth round.

Mr. Greer tried to make up for lost ground for the remainder of the fight but the Filipino fighter was not to be denied the victory as he held on tough and maintained the lead he was able to secure early on to preserve the win.

With the victory, Mr. Plania improved to 24 wins with only one loss. It was also his ninth straight victory.

Mr. Greer, 26, for his part, saw his 19-fight winning streak come to an end. More telling, the loss could affect his quest for a shot at the World Boxing Organization belt currently held by Filipino champion John Riel Casimero. 

The Plania-Greer fight was part of the second offering back by Top Rank Boxing after it took a break because of the coronavirus disease 2019 (COVID-19) pandemic. – Michael Angelo S. Murillo

Britain’s Rose splits with long-time swing coach Foley

BENGALURU — Former world number one Justin Rose has parted ways with swing coach Sean Foley after 11 years together, the 39-year-old told The Telegraph.

Under Foley, Englishman Rose won 10 PGA Tour titles, his only major championship at the 2013 US Open, as well as the gold medal at the Olympic golf tournament in 2016.

“I spent the past three months working on my game at home,” said Rose, who finished tied for third on Sunday at the Charles Schwab Challenge, the PGA Tour’s first tournament since the pandemic brought world sport to a halt.

“I made a lot of progress and wanted to keep that momentum going when I returned to competition in Fort Worth. I felt it was a good time to take complete ownership of my swing and game. That idea is something Sean has always wanted for me.

“I’m grateful for the successes I had under his tutelage and the career goals I was able to achieve. The door’s open whenever I have questions or want his guidance, as he continues to be one of my closest friends.”

Rose, ranked 14th in the world, will be in action at this week’s RBC Heritage event at Hilton Head Island in South Carolina. — Reuters

Miriam’s foresight

Last Monday, June 15, was the 75th birth anniversary of the late Senator Miriam Defensor Santiago. She was 71 when she succumbed to lung cancer in September 2016, shortly after losing her third and final bid for the presidency. No less than President Rodrigo Duterte himself preferred to her as the most qualified presidential candidate in 2016. But it was not her fate.

The thing with Miriam was that she wasn’t the type to tread middle ground. So, even with the voting public, it was either you loved her or hated her. But, while she had her share of supporters and critics, and of praises and criticisms, no one can argue the fact that she had left a very strong imprint on Philippine politics.

Only few have the distinction of having served in all three branches of government. Miriam was special assistant at the Department of Justice during the pre-martial law years; trial court judge during Martial Law; Immigration Commissioner in post-EDSA 1986; and, Agrarian Reform Secretary in the Aquino administration. She ran for president in 1992, and almost made it, then ran for senator in 1995 and won. She was reelected senator in 2004 and 2010. She ran again for president in 1998, and then in 2016.

Miriam had also worked as Legal Officer at the UN High Commissioner for Refugees in Geneva, Switzerland. She was also the first Filipino elected as a commissioner for the International Development Law Organization. And in 2011, she was the first Asian from a developing country to be elected as a judge of the International Criminal Court (ICC). But she had to give up assuming that post, and opted to remain a senator, after being diagnosed with lung cancer.

I could not help but remember Miriam when the COVID-19 pandemic hit. It was she, as senator, who had the foresight in 2013 — seven years ago — to file in the Senate the proposed “Pandemic and All-Hazards Preparedness Act.” This was after noting the need “to strengthen national response and preparedness for public health emergencies, such as those which result from natural disasters and severe weather, recent outbreaks and pandemics, bioterrorism, mass casualties, chemical emergencies, and radiation emergencies.”

Her bill was filed in light of events at the time, particularly the global concern over the spread of the Middle East Respiratory Syndrome or MERS. It was in June 2013, she noted in her bill’s explanatory note, that health experts started emergency international meetings on a “mysterious virus that has been described as the single biggest worldwide public health threat.”

Seven years ago, Miriam wanted to give the “Department of Health the mandate to undertake measures, such as evaluation, planning, organizing, and training, to improve national preparedness for public health emergencies.” And by preparedness she referred to “activities and measures taken in advance to ensure effective response to the impact of hazards.”

The late senator Miriam had referred to activities and measures, including policies and strategies, “taken in advance.” And this, to me, was the crucial part. One can only wonder how we would have responded particularly to the onset of COVID-19 earlier this year had the Senate passed Miriam’s bill seven years ago. I believe seven years of preparedness and readiness would have actually counted for something, even if programs crossed administrations.

In response to the present crisis, we had the Bayanihan Act. However, such a policy response is tactical in nature, and does not pave the way for greater preparedness and readiness for future events. Even the creation of a separate department for disaster management may not be enough or sufficient, considering the magnitude of a pandemic like COVID-19 and its long-term consequences.

Miriam’s 2013 bill called for the drafting of a “National Health Strategy for Public Health Emergencies.” I believe this remains relevant to this day. Our experience from COVID-19 revealed plenty of lessons on how to best go about such emergencies in the future. With this, I think our policymakers should consider a new bill on pandemics and national health emergencies, perhaps borrowing some ideas and concepts also from Miriam’s old bill.

The 2013 proposal also called for the creation of a Medical Reserve Corps composed of volunteer health professionals. In her bill, Miriam had proposed that the Medical Reserve Corps be called into duty if needed during public health emergencies. While we have existing groups of military reservists, including one composed of health professionals, I believe this also requires augmentation and support. Our present call for volunteers is precisely what this proposed corps was all about.

The value of Miriam’s bill, in my opinion, is her recognition of the possibility, as early as seven years ago, that a pandemic can occur. And that public health emergencies on a national scale, if not a global scale, can actually happen in our lifetime. And with this, the national government should devote more time and resources to improve on preparedness and readiness.

There is no doubt in my mind that COVID-19 caught not only us but the entire world off-guard, ill-prepared, and unable to deliver a quick and effective response to the emergency. By now, we should have learned plenty of lessons on how to deal with public health emergencies, especially one as devastating as COVID-19.

Moving forward, we should learn to benefit from the foresight of others like Miriam. She actually foresaw the gaps in emergency response as early as 2013, with MERS and SARS already wreaking havoc in other parts of the world at that time. And we actually witnessed these gaps as we continue to struggle with COVID-19 today.

Miriam lit the candle in 2013. It is now time to take that small light and make it bigger and brighter. Our policymakers, including legislators, should start looking into better addressing these emergency response gaps through more forward-looking policies and effective strategies. Paramount is providing the conditions and the environment that can ensure better preparedness and readiness. COVID-19 is not the first, and will not be the last, public health emergency.

 

Marvin Tort is a former managing editor of BusinessWorld, and a former chairman of the Philippines Press Council

matort@yahoo.com

Is Trump trying to spread COVID-19?

By Thomas L. Friedman, The New York Times

WHEN the full record of the coronavirus in America is written, historians may argue that President Donald Trump’s biggest mistake was not what he failed to do in early 2020, when the right strategy for combating the virus was widely debated, unproven and hard. No, they will point to what Mr. Trump failed to do in June 2020, when the right strategy was clear, proven and relatively easy.

No doubt, this virus is inscrutable. It pops up, it disappears, it reappears, some people are symptomatic, some asymptomatic, some seem to have natural immunities to it that we don’t understand, and once it infects people it hits in radically different ways: It comes in the equivalents of decaf, regular and double macchiato — and you never know if you’re going to get the mild or the extra-strength version.

But there is so much that we do know now that could make this post-lockdown phase so much less dangerous and so much more economically viable than it is.

We know that countries where everyone wears a mask outside the home sharply reduce the spread and that people who practice strict social distancing infect fewer people and are infected less often. And we know that people who avoid “superspreading” events — large, prolonged social gatherings, religious services and crammed nightclubs and workplaces, where one highly contagious person can quickly spew the virus to many others — are less likely to get infected.

Top government expert Dr. Anthony Fauci has pointed out that taking just these relatively easy steps, plus testing, tracing chains of transmission and quarantining the infected, would tamp down what appears to be a brewing, post-lockdown resurgence and limit the number of people needing hospitalization as we await a vaccine.

And yet we have a president who, instead of wearing a mask, turns defiance of mask-wearing into a heroic act of defiance against liberals; who forces 1,100 West Point cadets to travel back to campus, and quarantine for two weeks, so he can get a photo op addressing their graduation; who is planning a mass rally in Tulsa, Oklahoma, on Saturday — where the most notable precaution is that you sign a legal disclaimer that you “voluntarily assume all risks related to exposure to COVID-19 and agree not to hold Donald J. Trump for President, Inc.” liable — and who hails governors who open bars and restaurants for people to crowd together.

It is absolutely devilish — like Mr. Trump wakes up every morning and asks himself: What health expert’s advice can I defy today? What simple gesture to reduce the odds that the coronavirus continues to surge, post-lockdowns, can I ignore today? What quack remedy can I promote today?

I’ve argued from the onset of this pandemic that our goal had to be a sustainable strategy that maximizes saving lives and livelihoods, and I’ve been stunned by the criticism that anyone talking about saving lives and jobs in the same breath is an unfeeling capitalist. That’s crazy. We now have 40 million Americans unemployed. The physical and mental health consequences of that number, if it continues for six more months, will be devastating.

But Mr. Trump wants as many Americans back to work now, and the stock market to rise now, without asking Americans to take even easy precautions.

That’s not just cynical, it’s incredibly stupid — if you’re Mr. Trump. Because people are not going to go back to work or out to dinner if they see lots of family, co-workers and friends getting sick and dying, no matter what he says.

You would think Mr. Trump had learned by now that Mother Nature is calling the shots and she asks only three questions about your personal or communal adaptation strategy toward her virus.

First, are you humble — do you respect my virus? Because if you don’t, it will hurt you or someone you love. Second, is your response coordinated? Because Mother Nature has evolved her viruses over millenniums to find any crack in your personal or communal immune system. And third, is your strategy for maximizing lives and livelihoods based on chemistry, biology and physics and not politics, ideology and election dates? Because Mother Nature is only chemistry, biology and physics and responds to nothing else.

Oh, and lockdowns are meaningless to her. Her viruses go away only if you can develop a vaccine or enough people develop herd immunity by acquiring the infection and building natural antibodies to it.

Mr. Trump, alas, does not respect the virus. He is not coordinating a coherent public health response, and the response he is coordinating is based not on chemistry, biology and physics but on his own political needs.

If a nationwide resurgence of COVID-19 (coronavirus disease 2019) hospitalizations meets crowded, intense social protests against police killings — particularly by black and brown Americans who have also been disproportionately harmed by the coronavirus — meets stubborn mass unemployment, meets an exhausted nation being ordered into a second round of lockdowns, watch out.

What would a real president be urging governors to do today? Prepare detailed plans to get people back to work on a risk-stratified basis with proper protections, along the lines recently proposed by public health experts Dr. Darria Long and Dr. David Katz.

“The data are now overwhelming, from here in the US and all around the world, that this infection is a grave threat to the elderly and chronically ill but generally mild for younger, generally healthy people,” said Dr. Katz in an interview.

It’s also clear that “many of the worried projections about social determinants of health and the consequences of mass unemployment are confirmed. We have, indeed, seen rising rates of addiction, domestic violence and mental duress.”

We also know much more now, Dr. Katz continued, “about the risks of exposure. This virus is not transmitted all that easily. … Many people with transient, ordinary exposures don’t get infected because of low exposure dose, partial resistance to this pathogen, or both.”

All of this provides actionable intelligence, Dr. Katz argued. We can and must do a far better job of protecting the frail and elderly, especially in nursing homes, and all of those with serious chronic disease, he said. “Then the rest of us can go about our business, but with policies in place to regulate any interactions we might have with higher-risk people, so we protect them, and with reasonable precautions for our own sakes, like wearing masks, practicing social distancing and avoiding crowded indoor settings, that limit exposure to high doses of coronavirus and our ability to pass it along.”

We also can see now — with cases spiking in locations around the country that did not experience an early wave of infection and are now opening up haphazardly — “how right it was to warn about the dangers of just flattening the curve without a risk-stratification strategy,” Dr. Katz added. “A flattened curve delays cases, it does not prevent them, because no immunity has been developed.”

To get back to normalcy requires widespread immunity to the coronavirus, which happens in only two ways.

One is a vaccine that is safe, effective, mass produced and universally distributed. That would be the best solution, and God willing, a vaccine will come in the fall and everyone can get back to work safely in subsequent months. But it may not, and we can’t just keep the economy on hold.

“The other,” said Dr. Katz, “is natural herd immunity, achieved by those of us at low risk for severe infection, who can most safely go back to work and school and life as we knew it, while taking the right, reasonable protections. Meanwhile, we should guard those most vulnerable until we can sound the all-clear. Only this kind of thoughtful, risk-stratified approach can allow for herd immunity with maximal safety and minimal total harm from infection and the consequences of prolonged lockdown alike.”

Our current haphazard approach is just begging for trouble. © 2020 The New York Times

Growth recovery via stable, cheaper electricity

There is a direct and close relationship between electricity consumption and GDP growth so the former with real-time data can be used as a proxy to estimate the latter which are often announced about six weeks after the end of the quarter.

From the Independent Electricity Market Operator Philippines (IEMOP) data for the Luzon-Visayas grids, here are the changes and demand contraction in April, May and June 1-15 in 2020 versus same period in 2019: April -20.3%, May -15.6%, June 1-15 -7.9%, average -14.6%.

At this rate, a GDP contraction of -10% or higher is possible for the second quarter (Q2) 2020, much worse than -0.2% in Q1 2020, which was already a big dip from +6.4% in Q4 2019.

Note also the April 2020 labor force data: 7.3 million unemployed in the labor force plus 3 million working age Filipinos who did not join the labor force anymore, did not look for a job because they knew that there will be no jobs available. Total of 10.3 million working age but idle Filipinos, a huge number.

This plus the projected deep GDP contraction in Q2 2020 and beyond should set a panic mode for the government’s economic managers. Since they and other members of IATF (Inter-Agency Task Force for the Management of Emerging Infectious Diseases) cannot admit that the hard lockdown was wrong, at least they should have further relaxed and opened up the economy in the second half of June, but they extended the general community quarantine (GCQ) instead, another wrong move.

Now as the Philippines and many countries figure out how to recover early from the economic damage of prolonged lockdowns, there are many sectors that push irrational proposals of higher environment and energy taxes, more expensive energy.

Two proposals stand out: One, small and poor countries pressuring rich countries that regardless of their current hardships, they must honor their commitment in the Paris Agreement 2015 to give $100 billion/year of climate money starting 2020. And, two, the Frankfurt School-UN Environment Program-BloombergNEF (FS-UNEP-BNEF) study and lobby to raise investments for solar-wind and other intermittent sources by $3.1 trillion from 2020-2030 or average of $300 billion/year.

Two recent reports in BusinessWorld reflect these pressures: “Renewables seen key in powering post-pandemic recovery” (June 11), and “ADB makes pitch for more clean energy investment in stimulus spending: (June 17).

I checked the comparative electricity prices of selected countries, and I saw two reports from the International Energy Consultants (IEC) and the Global Petroleum Prices (GPP). Then I checked the solar-wind use of countries, data from the BP Statistical Review of World Energy (SRWE) 2019, to see if there is any connection. The result is interesting (see the table).

European countries, especially Denmark, Germany, Belgium and Spain, have high electricity prices, double or triple those of the US, Thailand, and South Korea, partly or largely because of their high reliance on intermittent solar-wind.

These intermittent sources need large batteries, and the grid transmission and distribution systems need extra devices and mechanisms to stabilize wild swings in power surges and dips. These automatically raise their cost. Then consider the endless subsidies like feed in tariff allowance (FIT-All) that all electricity consumers in the Philippines have to pay now and many decades to come.

Many East Asian economies actually hardly pay attention to injecting more solar-wind into their national electricity grid. Singapore, Hong Kong, Vietnam, Malaysia, and Indonesia have a solar and wind share of only 0.1 to 0.6% of their total electricity generation.

As the Philippines moves towards more house-based online work and education, the need for more stable reliable power, with no blackouts for even a minute, and cheaper electricity becomes even more important than before.

People may have the gadgets, electronics, and faster internet, but if they have unstable power from intermittent sources, their work and online education will be disrupted and affected. Reason and economic realities must prevail over ecological biases and alarmist climate projections.

 

Bienvenido S. Oplas, Jr. is the president of Minimal Government Thinkers

minimalgovernment@gmail.com

Just another day at the office

 

ONE WAY of characterizing the brilliant performance of any star, say in the basketball court or the ballet stage, is to describe it as “just another day at the office.” The ability to provide a consistently high level of performance is admired for its being as predictable as office hours.

Even with the new normal, where working from home has become an option, there are still organizations that require physical presence in a designated workplace at a designated time, like a hotel, hospital, restaurant, city hall, or a bank, even when this has increased its online penetration.

Still, for most human endeavors, an “office” (or a designated venue for providing service or the exercise of a profession) provides the needed separation between work and life. The home is a nesting place with the family, and has its own demands for nurturing and “turning off” the stresses and petty politics of work… for other kinds of pressures.

What does the office provide beyond just an address in the calling card and a designated enclosure assigned to an individual or one he has access to, in the case of a hoteling arrangements where the assigned work space is not fixed?

Here are some attributes of the office that enhance the quality of work.

There are benefits in having a set of people with a common goal and interdependent functions in one place, even if socially distanced. The corporate culture of an organization is defined by how the individuals work together as a team. The inside jokes, nicknames of people (usually the higher-ups), celebration of rituals, reading body language and sharing a common objective tie the group together to promote the possibility that the whole is greater than the sum of its parts.

Tribal memory resides in the group, when it is together, as one experience broadens perspectives on a certain issue — we had a client like that once, and we just decided to charge him more for our services. Even newcomers bring in something, maybe a new vocabulary and digital skills. Only in a shared space, over coffee and doughnuts, can unexpected ideas come up, some of them useful.

Work habits are formed by modeling. The stars pull up everyone’s aspirations. Is mentoring possible if everyone is in a different place? The casual insight or “management by nitpicking” — this needs a little more detail on industry practices, can improve the herd.

There is a value system imposed by the office in terms of punctuality, proper attire, and ethical handling of clients. The formal and sometimes informal (time for coffee break at the pantry) practices affect the quality of output, exceeding the expectations of clients. Informal meetings over lunch improve bonding… with limits.

Maybe the characterization of the office as a place of stress, much like a gym but without flattening the abs, has elicited hosannas for home work. After the initial surge of enthusiasm for avoiding heavy traffic, dressing down for work, waking up later, and going for an output-based performance rating, the romance can fade away. What happened to work-life balance? Is there still a boundary between livelihood and living? When do I relax and take off my shoes… if I’m not wearing any?

The office needs to regain its function in defining work as a team effort that requires physical presence and coordination — do you have a minute? I need to consult you on damage control.

The stresses of waking up early, planning the commute, dressing up, and even preparing the lunch box, elevate the importance of what needs to be done at the office and whose help is needed.

Maybe, the office is a stage set.

After the play is written, the producer looks for his cast, stage designer, orchestra, lighting director, costume designer and his project head, the director himself. And all these separate moving parts need to get together at some point inside the theater to see if the play hangs together and connects to the audience. Is it possible for all, or even most of the players in this project, to work from home? Where’s the drama?

Anyway, just try out the eponymous expression. Will it work as well if one hails an excellent performance by a master as “just another day at home”? Okay, you probably need a footnote for that one.

 

Tony Samson is Chairman and CEO, TOUCH xda

ar.samson@yahoo.com

Guess who outperforms the world in coronavirus mayhem

By Matthew A. Winkler

OBSCURED by the myriad stories of coronavirus global devastation are three headlines from the continent with no shortage of epidemics, man-made and natural disasters. That would be Africa. Of its 54 countries, six are among the top 10 fastest-growing economies in the world this year. The continent is the favorite bazaar for appreciating equity after Eastern Europe and has one of the stock market’s best-performing industries: communications.

Africa finds itself with fewer COVID-19 (coronavirus disease 2019) cases than other heavily populated regions. Even after testing almost tripled to 1.2 million, the director of the Africa Centers for Disease Control and Prevention, John Nkengasong, said the continent’s percentage is relatively small. Africa has the largest percentage of youth in the world, a higher average temperature and relatively more people outdoors most of the time, according to an April 28 report in the Financial Times.

Although South Africa remains an outlier, with surging daily COVID-19 infections similar to the US rate, Ethiopia, Kenya and Nigeria reflect the continent’s low percentage of cases relative to its population, according to Bloomberg News and the Johns Hopkins Bloomberg School of Public Health. Even as the US daily infection rate based on population declines, the measure is still 24 to 46 times higher than in Ethiopia, Kenya and Nigeria.

The trend has its roots at the beginning of the 21st century, when another pandemic threatened much of the world. Ever since the 2002-2003 outbreak of severe acute respiratory syndrome (SARS), when the continent’s sole infection was in Cape Town, Africa has leapfrogged the developed world in gross domestic product with a steadily growing share of global GDP, according to data compiled by Bloomberg. Most recently, some 38 economists who contribute to Bloomberg cut their 2020 forecasts for the world, from a 3% growth rate to a decline of 3.7%, while simultaneously predicting a much less precipitous slide for Africa: from 3% growth to a decline of 2.5%. If these forecasts prove accurate, Africa would be among the half-dozen best-performing 18 major regions in 2020, according to data compiled by Bloomberg.

Africa dominates the list with countries forecast to grow the most in 2020. Rwanda is projected at 3.2%, Ethiopia and Ivory Coast at 3%, Uganda at 2.8% and Ghana at 1.9%, according to data compiled by Bloomberg. That helps explain why stocks from North America, Western Europe, and Asia Pacific contributed three, two, and one percentage points, respectively, to the world benchmark’s 8% loss, and Africa contributed just 0.24 percentage points to the deficit. It remains the best performing region, similar to Eastern Europe (0.2 percentage point), according to data compiled by Bloomberg.

While the world equity benchmark declined 4% in 2020, Africa lost just 1%.

Communications companies in sub-Saharan Africa so far this year lead all industries in Africa with a total return (income plus appreciation) of 22% — more than twice the 9% earned by global health care companies, the No. 1 performing industry in the world. Africa’s appreciation in the stock market coincides with a similar rally by the continent in the emerging market for sovereign debt. After lagging much of the past two years, Africa’s sovereign debt gained 24% since the beginning of April, or more than double the entire market’s 10%, according to the Bloomberg Barclays Indexes.

None of these achievements apparently were anticipated by some of the biggest investors, who retreated from emerging markets earlier this year when the coronavirus became a global pandemic. BlackRock, the largest money manager with $7.4 trillion of assets, allowed its Africa investments to decline 24% to $8.3 billion. Its Asia Pacific investment declined 20% to $115 billion, and its Eastern Europe valuation fell 31% to $9 billion, according to data compiled by Bloomberg.

All of which shows that Africa is the biggest economic and financial surprise in these perilous times.

BLOOMBERG

As economy slumps, Philippines lets eateries reopen to recoup job losses

The Philippines is getting back to business after one of the world’s strictest coronavirus lockdowns spanning nearly three months, allowing restaurants to reopen this week for dine-in customers in an effort to keep people in work.

Eateries in the capital Manila that can meet government safety protocols were allowed to reopen from Monday at 30% of their seating capacity, with strict hygiene and social distancing measures a must. That won’t be a problem for Lalaine Baja, even though her streetside Manila restaurant that serves Filipino favorites had only a trickle of diners on Tuesday. “We are thankful when even one or two customers eat at our restaurant,” she said. “Since customers now have the option to dine in, our sales have been gradually picking up.”

The Philippines has so far reported 26,781 infections and 1,103 fatalities due to COVID-19, the disease caused by the new coronavirus. That’s the third-highest death toll in East Asia after China and Indonesia. Metro Manila has been under lockdown since March 16, but restrictions have been loosened since June 1 after some grim forecasts for a normally resilient economy and record April unemployment of 17.7%.

Televised video footage showed happy staff at restaurants cleaning tables and cutlery, with some wearing masks and face shields and others in full-length protective suits and latex gloves. Customers will be required to sit diagonally, or with a transparent plastic panel between them.

President Rodrigo Duterte said on Monday some restrictions would remain in place in Manila for a further two weeks because the threat of contagion remained. These include bans on gatherings and sports, partial curbs on public transportation, and stay-at-home orders for the elderly. His trade minister, Ramon Lopez, said the only way to get the economy going without risking further outbreaks of the virus would be through modified restaurants and the restricted reopening of barber shops, salons, and malls. “It is to our interest in government to really find that healthy balance in bringing back jobs while ensuring health protocols are followed,” he said. — Reuters

Pag-IBIG Fund extends remittance deadline for employers to June 30

Pag-IBIG Fund is giving employers more time in the remittance of the Pag-IBIG monthly savings (contributions) and short-term loan payments of its employees, as businesses slowly resume operations upon the easing of quarantine rules around the country.

“We have extended the deadline and are giving employers up to June 30 to remit their employees’ Pag-IBIG monthly savings and short-term loan payments, so they have more time to process their payrolls during this period. This is yet another way that we are helping businesses and their employees, as we continue with our nation’s journey to recovery under the lead of President Duterte,” said Secretary Eduardo D. del Rosario, head of the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board.

The extension, he added, covers remittances due for the months of March, April and May 2020 and shall assist nearly 312,000 employers nationwide, both from the private and government sectors.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that this is the second time that the agency extended its payment deadline for employers. And while they have opened all their branches and made electronic payment channels available, this payment extension is expected to spread out the volume of transactions from both employers and members.

“We recognize the key role that our employers play in ensuring that our Filipino workers maintain their active membership with Pag-IBIG Fund.  That’s why we are giving them another 15 days to remit the Pag-IBIG monthly savings and short-term loan payments of their employees, without incurring penalties and interest.  We hope that this move would help ease their concerns, as their businesses resume and as the nation transitions to the ‘new normal’,” Moti said.

SureTayo by Dragonpay: Safe and Secure Transactions, Guaranteed

Amidst the fast-paced and ever-changing times of the COVID-19 era, the world of e-commerce has seen a sudden surge in demand. People are staying in the safely of their homes and online shopping has become the preferred method of acquiring their needs—such as food, medicines, and delivery services—and wants from fast food take-out,  sweet delicacies for stay-at-home birthdays, and entertainment subscriptions like Netflix and Spotify. For the longest time, online payment conduit, Dragonpay, has a major player in guaranteeing the safe and secure execution of these transactions. In the recent years, it has been working tirelessly to improve its system in order to stay grounded and true to this mission as the most trusted corporation for alternative payments in the Philippines.

 

In July 2019, Dragonpay launched the app for its escrow service, SureTayo,which ensures a smooth payment and receipt cycle between customers and merchants nationwide or even internationally. SureTayo serves as a third party that holds on to buyer’s payments until safe delivery of their purchase has been completed.This helps to make the online shopping experience safe and convenient for both buyers and sellers by eliminating the risk of fraud, scamming, and charge-backs.

When asked about the rationale behind the creation of SureTayo, Dragonpay founder and CTO, Robertson “Dick” Chiang answered:

“We created SureTayo with the promise of making the seller-buyer transaction convenient, fast, and easy, and I am proud to say that we were able to do it. While we achieved this feat, we at Dragonpay never stop innovating. We developed the SureTayo app to ensure that we adapt to the needs of our clients.”

The process is simple:

An online buyer finds an item he wishes to purchase. He then gets in touch with the seller to inform him or her of his interest. The seller then prepares an online invoice using SureTayo. The buyer then receives a confirmation e-mail, clicks the link to SureTayo, chooses his preferred payment method, and pays via Dragonpay. The seller is notified when the payment has been made and only then delivers the item. When the buyer receives his purchase, he confirms it with the seller through SureTayo. It is only after the confirmation that SureTayo safely releases payment to the seller. Should the purchasing process not be successful, the buyer is reassured that his money is still safe in the hands of SureTayo.

SureTayo does not only play a role in guaranteeing the smooth flow of buyer-seller transactions, it also fosters trust between those involved. By providing a convenient and safe online shopping experience, the seller now becomes a more trusted figure in the eyes of satisfiedcustomers. This helps to potentially increase a buyer’s reach and revenue. Furthermore, it allows the buyer to introduce wider and hassle-free modes of payment because buyers can pay through over 50,000 payment counters and various online facilities like ATMs, mobile wallets, and even international remittances.

Indeed in the midst of these turbulent and ever-changing times, business owners and their customers will reap great benefits with the help of SureTayo, Dragonpay Corporation innovative and timely escrow service that upholds transparency and security in all transactions while keeping their stakeholders safe in the comfort of their homes!

To know more about SureTayo, visit www.suretayo.ph or follow/SureTayoPH on Facebook. You can also download the SureTayo app in the App Store and Google Play.

EDITOR’S NOTE:

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