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Battle of GMs 1977

Loyola Grandmasters Match 1977
Philippines, Jan. 22-April 25, 1977
Final Result

GM Eugene Torre 2550 6.0-4.0
GM Rosendo C. Balinas, Jr. 2420 4.0-6.0

Format: Unlimited match with the 1st to win 6 games taking the series. Draws do not count towards the final score.

Time Control: 40 moves in 2½ hours each. Then an hour for every 16 moves each after that

Who is Asia’s first chess grandmaster? Everyone knows it is Eugene Torre. Who is Asia’s second chess grandmaster? Strangely enough many people get this wrong, the correct answer is Rosendo Balinas.

Balinas was considered the strongest Asian player during the 1960s and early 1970s, before the emergence of compatriot Eugenio Torre. “Bali” won international chess tournaments in Hong Kong, Singapore, Manila, and Odessa, USSR, during the period. At the 1966 17th Chess Olympiad in Havana, Cuba, Balinas scored 15½ points out of 20 games and was awarded the individual silver medal award, behind gold medalist Mikhail Tal, who scored 11 points out of 13 games. In the 1967 Meralco “Beat Bobby Fischer” match series in Manila, of the top 10 Filipino players, Balinas was the only then Philippine national master to hold the future world champion to a draw:

Balinas, Rosendo C. Fischer, Robert James [B70]
Manila “Beat Bobby Fischer,” 1967

1.e4 c5 2.Nf3 d6 3.d4 cxd4 4.Nxd4 Nf6 5.Nc3 a6 6.g3 g6 7.Bg2 Bg7 8.0–0 0–0 9.h3 Bd7 10.Nde2 Nc6 11.b3 b5 12.Be3 Qc8 13.Kh2 Qc7 14.Nd5 Nxd5 15.exd5 Nd8 16.Bd4 Rc8 17.Bxg7 Kxg7 18.Qd4+ Kg8 19.c3 e5 20.dxe6 fxe6 21.Rad1 Nf7 22.f4 Qc5 23.Qxc5 Rxc5 24.Rd3 Rfc8 25.Rfd1 a5 26.g4 Kf8 27.Re3 Ke7 28.Bd5 Kf6 29.g5+ Ke7 30.c4 Nd8 31.Nd4 bxc4 32.bxc4 Kf7 33.Rde1 exd5 34.Re7+ Kf8 35.Rxd7 Rxc4 36.Ree7 Rxd4 37.Rxh7 Kg8 38.Rhg7+ Kf8 39.Rh7 ½–½

In 1975, Balinas achieved a 5-5 score at the Manila Marlboro Classic International Chess Tournament, a half point short of the grandmaster norm, tying with Gligoric for 6th-7th place. Balinas defeated prominent grandmasters of the caliber of Lev Polugaevsky (Russia), Bent Larsen (Denmark) and Lubomir Kavalek (USA).

His wonderful performance led to an invitation to play in the Odessa International Tournament, a powerful event which included Lev Alburt (Ukrainian Champion and future US Champion), Vladimir Savon (1971 USSR Champion), James Tarjan (a mainstay of the US Olympiad team) and the legendary David Bronstein. The other Eastern bloc countries sent their representatives as well: GM Jan Plachetka (Czechoslovakia), GM Georgi Tringov (Bulgaria), GM Istvan Bilek (Hungary), GM Lutz Espig (East Germany).

There was speculation that Bali was invited by the Soviets to teach him a lesson — during the Marlboro tournament he had rather unwisely been involved in a heated argument with Polugaevsky, who undiplomatically remarked that Balinas’ wins were due to luck and he responded by shouting at the Soviet delegation that he was not afraid of any of them.

Well, we will probably never know the reason for the invitation (imagine, the USSR extending an invitation to a player in a remote corner of the world, and this guy was not even no. 1 in his own country!) but grasped the opportunity with both hands and scored the biggest victory of his career. If you want to know more about this chapter in Philippine chess then shame on you for not buying my book Inside Philippine Chess vol 1! I wrote a round-by-round account on it under the title “The Conquest of Odessa.”

Balinas had over-fulfilled the GM norm requirements in Odessa, but he needed another one to get the full title (remember, he missed the norm by half a point in the Marlboro tournament). However, in the Haifa Chess Olympiad which followed shortly, the legendary David Bronstein (he played in Odessa) suddenly proposed Bali for the grandmaster norm title. His reasoning was that if you put the results of Marlboro and Odessa together he would have enough points for the required norms (pooling of results from different tournaments is explicitly not allowed in title applications, but you will admit it makes a quite convincing argument!) and besides Balinas’ beautiful and creative play clearly makes him worthy of the title.

The Filipino delegation, most notably Hon. Florencio Campomanes, very strongly lobbied for the approval of this title application, and having the backing of such a distinguished person as David Bronstein made the difference. Rosendo C. Balinas, Jr. was awarded the title of International Grandmaster viva voce.

Well, now that the Philippines has two international grandmasters and the rest of Asia had none the next question is who is stronger. There was a clamor for this match and Loyola Life Plan, spearheaded no less by its Chairman of the Board and former Senate President Gil J. Puyat, saw to it that the question is answered.

Game 1. Torre accepts a poisoned pawn and nearly pays dearly for it when Balinas goes into attack mode right away. A costly miscalculation by Bali in a very strong position allows Torre to bring his king to safety though and win the game with his extra material. Strangely enough, Black’s dubious pawn grab was later on recommended by GM Joe Gallagher in “Beating the Anti-Sicilians.” The trail of abbreviated victories by White left in the wake of the book is a good illustration of not believing everything you read.

Balinas, Rosendo C (2420) — Torre, Eugenio (2550) [B51]
Loyola Grandmasters Match ’77 Manila (1), 22.01.1977

1.e4 c5 2.Nf3 d6 3.Bb5+ Nd7 4.d4 Ngf6 5.0–0

This is one of the first games where White offered the pawn sacrifice. 5.Nc3 is the normal move.

5…Nxe4?!

Torre accepts the challenge. The usual continuation is 5…cxd4 6.Qxd4 and now either 6…e5 or 6…g6. Many years later the Irish-turned-Swiss GM Joe Gallagher wrote a book on “Beating the Anti-Sicilians” in 1994 and he recommended taking the e4–pawn, just as Eugene did. The move has not fared very well.

6.Re1

Another good way of going about the attack is 6.Qe2, intending to bring his rook to d1. 6…Nef6 7.dxc5 dxc5 (7…e6 8.Rd1 Qc7 9.Nc3 Qxc5 10.Bg5 Be7 11.Bxf6 gxf6 12.Nd5! exd5 13.Re1 0–0 14.Bxd7 Bxd7 15.Qxe7 Bc6 16.c3 intending to take on f6. I don’t see a way out for Black) 8.Rd1

• 8…Qc7?! 9.Ne5 a6 10.Nc3! e6 (10…axb5 11.Nxb5 Qd8 (11…Qb8 12.Nxd7 Bxd7 13.Nd6+ Kd8 14.Nxf7+ wins) 12.Nc6 bxc6 13.Nd6#) 11.Bf4 axb5 12.Nxd7! everything is forced 12…Qxf4 13.Nxf6+ gxf6 14.Qxb5+ Ke7 15.Qb6 Bh6 16.Qxc5+ Ke8 17.Nb5 1–0 S.Berezjuk-A.Buligin, Minsk 1996.

• 8…a6 9.Bc4 e6 10.Ng5! Qb6 (10…h6? 11.Nxf7! Kxf7 12.Qxe6+ Kg6 13.Bd3+ Kh5 14.Qh3#) 11.Bxe6 fxe6 12.Nxe6 Be7 13.Re1 Ng8 14.Bf4 Ra7 15.Nc7+ Kf8 16.Nd5 Qd8 17.Nxe7 It is great for White to know that other international players have lost in the same dramatic fashion, which suggests there are plenty more potential victims out there! 17…Nxe7 (17…Ndf6 18.Nxc8 Qxc8 19.Bd6+ Kf7 20.Qc4+ 1–0 P.Velicka-C.Johann, Passau 2000) 18.Bd6 Ne5 19.Qxe5 b6 20.Nc3 Rd7 21.Rad1 1–0 J.Barle-T.Van der Vorm, Vienna 1996.

6…Nef6

[6…d5 7.c4! cxd4 8.cxd5 Nef6 9.Qxd4 g6 10.Qxf6 1–0 (10) Alekseev, E. (2642)-Zakhartsov, V. (2453) St Petersburg 2015]

7.dxc5 dxc5 8.Ng5! e6

Other moves:

• 8…h6? 9.Nxf7! Kxf7 10.Bc4+ Ke8 11.Nc3! The follow-up is Qd3 heading for g6, but Bf4 and Rad1 will also likely follow. (David Smerdon);

• 8…g6? is of course too slow: 9.Bc4 e6 10.Bxe6 fxe6 11.Nxe6 White has a decisive advantage]

9.Qe2

[9.Bc4! Be7 10.Bxe6 0–0 (10…fxe6 11.Nxe6 Qb6 12.Qe2 and Black is in trouble.) 11.Qe2! Nb6 (11…fxe6? 12.Qxe6+ Kh8 13.Qxe7 White is a pawn up.) 12.Bxc8 Nxc8 13.Nc3 White has a very good position at no material investment. Jones,G (2578)-Shirazi,K (2403) Aix les Bains 2011 1–0 (39)]

9…Be7 10.Nxe6?!

Premature. Best is 10.Nc3! bringing up an additional piece for the attack, with the point that Black cannot castle: 10…0–0? 11.Nxe6! fxe6 12.Qxe6+ Rf7 13.Bc4! winning.

After 10.Nc3! an Alekseev game continued 10…a6 11.Nxf7! Kxf7 12.Qxe6+ Kf8 13.Bc4 Qe8 14.Bf4 Nb8 15.Qd6! Nc6 (15…Bxd6 16.Bxd6+ Qe7 17.Rxe7 discovered mate coming up) 16.Rxe7 Qxe7 (16…Nxe7? 17.Qxf6+ gxf6 18.Bh6#) 17.Re1 Ne8 18.Qd1 Qf6 19.Nd5 Qg6 20.Nc7 Bg4 (20…Nxc7? 21.Bd6+) 21.Qd5 Rd8 22.Qxc5+ Nd6 23.Bxd6+ Rxd6 24.Qxd6+ Qxd6 25.Re8# 1–0 Alekseev,E (2710)-Krush,I (2492) Baku 2013.

10…fxe6 11.Nc3?

I do not know why Bali did not play 11.Qxe6 Kf8 12.Bc4 after which he has compensation for the piece.

11…a6 12.Qxe6?

Needlessly giving up his bishop. Of course 12.Bc4 is correct. This is based on a miscalculation which I will point out later.

12…axb5 13.Nxb5 Kf8!

Torre sees a way out, otherwise he would have played 13…Ra6 14.Nc7+ Kf8 15.Nxa6 bxa6 16.Bf4 giving up his rook for knight to blunt the offensive.

14.Nd6 Bxd6!

During the game the experts watching assumed that 14…Ne5 was forced, and after 15.Nxc8 Rxc8 16.Qxe5 Black would only be a piece up for two pawns.

15.Qxd6+ Kf7 16.Qe6+ Kg6

Threatening …Re8.

17.Re3 h6 18.Rg3+ Kh7 19.Bxh6 <D>

Position after 19.Bxh6

19…Qe8!

I believe this is the move that Bali overlooked. Now it is clear that there is no mate and Black’s material advantage will prevail.

• 19…gxh6 20.Qf7#

• 19…Kxh6? 20.Qf5 Nf8 21.Rh3+ Nh5 22.Rxh5#.

20.Rxg7+ Kxh6 21.Re7

Black has to address the threat of Qe3+

21…Qg6 22.Rd1 Nf8 23.Qe3+ Qg5 24.f4 Qf5 25.Re5 Qg4 26.Rd6 Ra6 27.f5+ Kh5 28.Rd3 Rg8

With an eye on mate at g2.

29.Qf2 Rxa2 30.h3 Ra1+ 31.Kh2 Qh4 32.Qxh4+ Kxh4 33.Rxc5 N8d7 34.Rc4+ Kh5

White has to prevent …Ne5.

35.g4+ Kh6 36.Rc7 White forfeits on time. 0–1

We will continue coverage on Thursday.

 

Bobby Ang is a founding member of the National Chess Federation of the Philippines and its first Executive Director. A Certified Public Accountant, he taught accounting in the University of Santo Tomas for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.

bobby@cpamd.net

Industry experts discuss how companies manage to thrive amid health crisis

By Hannah Mallorca
Features Writer, The Philippine STAR

As coronavirus 2019 (COVID-19) cases soar, industries scramble to cushion the impact of the pandemic. Strategies include the implementation of work-from-home (WFH) arrangements.

To know how companies thrive amid the pandemic, The Philippine STAR’s CareerGuide section discussed ways on how to manage working relationships, adjust into the WFH lifestyle, and move forward to a post-COVID-19 society.

The Facebook live discussion billed CG Live! featured PhilSTAR Media Group EVP Lucien Dy Tioco, HGS Philippines head of corporate communications Jocel De Guzman, and Stores Specialists, Inc. marketing and communications head Mitch Hernandez-Suarez.

Mitch Hernandez-Suarez

 Working as a team

The WFH setup goes beyond the traditional working relationship between the employer and employees. Currently, face-to-face meetings and consultations have moved into video meetings, email exchanges and online organization networks. This is where teamwork in various industries is put to the test.

Ms. Suarez emphasized that despite working from home, teams should maintain a good relationship with one another to work effectively.

“Since we’re working in a skeletal arrangement, it’s important that (teams) need constant and open communication to see how things are working — if it’s effective or not — and to check on each other,” she added.

Mr. De Guzman echoed Ms. Suarez’s statement, emphasizing that companies need its employees to continue. “You have to take care of your employees first. Business continuity means that if anything happens, you can still run the business,” he said.

Adapting to the WFH lifestyle

Working remotely has advantages such as operating on a flexible schedule, getting more work done and being more independent. However, it entails a lot of adjustments for companies.

As a mother, Ms. Suarez explains to her kids that even if she’s at home, she is still working. “I think families need to be oriented about the WFH arrangement. It’s not just an adjustment for the company or employee, it’s also an adjustment for the families that they live with,” she expressed.

Meanwhile, Mr. Dy Tioco shared that the pandemic is a wake-up call for companies to adapt to changes and be ready, should diseases or disasters happen again.

 Is WFH the future?

Various industries are greatly affected by the Enhanced Community Quarantine (ECQ), including business process outsourcing (BPO), which plays a vital role in the local economy.

Mr. De Guzman stated that working from home is the future of BPO. The government and telecommunication companies, however, should invest more in infrastructure and address the internet gap.

Jocel De Guzman

According to mobile network research firm OpenSignal, Philippines ranks 74th out of 77 countries in terms of 4G speed.

Retail also significantly contributes to the economy, covering 15% of the country’s total gross national product.

Shopping has been a huge part of modern Filipino culture. While online shopping boosts the retail industry, Suarez said it works hand in hand with on-ground stores to provide quality service to customers.

For Mr. Dy Tioco, the pandemic has helped companies understand the significance of digital transformation. “WFH is making us realize that certain things are possible because there’s technology to rely on. But reliability is, in itself, an issue and our country has to step up on our infrastructure,” he expressed.

 

For more information about employment, job openings and advertising options, visit CareerGuide PH on Facebook.

The digital consumer in COVID-19 crisis

By Adrian Paul B. Conoza
Special Features Writer, BusinessWorld

Fresh insights on consumers explored in recent Web Wednesdays webinar

The way consumers make use of digital technology has been significantly impacted by the coronavirus disease 2019 (COVID-19) crisis, leaders from top online platforms shared in the Web Wednesdays webinar held by the Internet Mobile Association of the Philippines (IMMAP) and Certified Digital Marketer (CDM) last April 22.

Gara Santos-Ontiveros, industry head of Google Philippines; Chay Mondejar-Saputil, client partner of Facebook Philippines; and Martyn U’ren, head of research for Asia Pacific and Middle East and North Africa at Twitter, shared noteworthy insights on the behavior of digital consumers during the present crisis, from which brands can learn from in adapting to their shifted needs and preferences.

Searches reflecting adaption

Ms. Santos-Ontiveros started her talk by pointing out that brands can serve as beacons during volatility, uncertainty, complexity, and ambiguity (VUCA) situations such as the COVID-19 crisis.

In order to thrive in the current situation, she added, brands are advised to plan around human behavior, which researches have looked into recently.

In terms of adhering to safety measures, Google’s mobility report indicates that Filipinos practice physical social distancing, as observed in the declines in going to retail and recreation areas (-81%), groceries and pharmacies (-59%), transit stations (-82%), coupled with an increase in frequenting residential areas (+26%).

Ms. Santos-Ontiveros further showed the activity of Filipino Google users during the crisis as reflected by the fresh findings from Google Trends.

With a heightened demand to replenish essential items, an “unprecedented adoption” of grocery delivery services was observed in sudden increases in searching for “grocery delivery”.

Filipinos are also found to have increasingly searched about protecting themselves when they venture out, for instance how to sew their own face mask.

With the crisis forcing a remote work setting for many, a +400% year-on-year increase was seen in searches for “work from home” related terms. Since remote work also involves using certain applications, there was also an observed month-on-month increase in searches for “web conferencing”.

Netizens are also seen to have found a new love for cooking or making drinks, as more people search for cooking procedures and recipes online, among them the trending Dalgona coffee.

With increases in searches for “donation” and “PPE” (personal protective equipment), more people are seen to come together to help with donation drives and supporting frontlines.

“While we are in the middle of very big changes,” Ms. Santos-Ontiveros noted, “some things haven’t changed, as we see people turning to YouTube for their passion, from fitness to mindfulness to food and new skills.”

Likewise, from an observed rise in “live” search terms, it was also found that “Filipinos seek connection and continued tradition through virtual event equivalents”.

From these insights mined from Google searches, Ms. Santos-Ontiveros summarizes the behavior of digital consumers under the acronym ADAPT: Assembling critical information and content they need to get by; Discovering new connections and nurturing relationships; Adjusting their routines and schedules to meet the demands of voluntary isolation; Praising everyday heroes who have stepped up in this critical moment; and Taking care of their physical and psychological needs, as well as those of friends and loved ones.

Probing the conversation in PHL

Twitter’s Mr. U’ren, meanwhile, went through the conversations that have taken place among Philippine users in the well-known social media platform, which the research head quipped as “the world’s largest focus group”.

He shared findings from research agency Kantar that 78% believe that brands should help in their daily lives, albeit a challenge is seen from another data stating that 74% think as well that brands might be taking advantage of the present situation.

From those findings, he emphasized that brands are facing a deeper challenge. “The challenge just isn’t understanding where consumers are. The challenge is getting the tone of voice completely correct,” Mr. U’ren said.

He added that it is also a great time to use clear communication to bring out inspiration during this ongoing crisis, citing Coca-Cola’s going “off air for a while” as an example.

Mr. U’ren recommends taking inspiration from academic Hans Rosling, who advised that the trick in making sense of research is going first from numbers, then to information, then understanding — similar to what Twitter has been doing in digging through conversations.

Internal data from Twitter presented in the webinar shows Philippines talking about the coronavirus longer, as evidenced by rising number of engagement in the first suspected case, first confirmed case, the lockdown in Manila, and the expansion of the lockdown.

“What’s really unique about the conversation in the Philippines is that it doesn’t form into a quiet negative space,” Mr. U’ren pointed out.

Interestingly, as found in term clouds, the conversation in the country has been found to move from a state of apprehension towards more focus on positive news of recovery and successful actions.

Twitter internal data has also studied the use of emojis, regarded as a universal language. Emojis with tears remain evident, but indications of hope have been observed with the use of the praying emoji.

Moreover, the data further located hashtags that show support and unity during this crisis, in particular rooting for frontliners. For instance, #ArtforMedPH has showcased individuals creating art and opening for commissions in support of frontliners.

The platform’s data has also seen a significant rise in minutes of video consumption, with notable rises in gaming and technology conversation, which Mr. U’ren said was lead by the launch of video game Animal Crossing during the crisis period.

“At this moment, we’re probably only starting to learn what we feel would be those ‘climate change’ moments,” Mr. U’ren concluded, referring to observed behavioral changes which may remain for a long time.

The next step for their team would be to qualitatively investigate the conversation, he added.

Pivoting business to relevance

For her talk, Ms. Mondejar-Saputil shared practices being done by companies in dealing with the crisis, namely adapting customer communication, re-imagining their business and marketing strategies, and planning their path to recovery.

In terms of a company’s communication, the client partner of Facebook Philippines advised on keeping it proactive and contacting customers frequently. Setting realistic expectations for customers and constantly reflecting on customers’ feedback are also advised.

When it comes to reimagining business, it is highly recommended to alter the current business model and enable the business to aid in response efforts, as observed in a flower shop shifting its product portfolio to sell basic necessities and in ride-sharing services shifting from rides to transporting food donation to medical workers.

Providing alternative customer experiences, such as setting up online platforms and opening delivery services are also recommended.

Showing care and empathy to consumers and contributing to helping society bounce back are fitting focal points in planning a company’s path to recovery, according to Ms. Mondejar-Saputil.

She also shared that Facebook can help business in this matter as it has released a Small Business Resilience Tool Kit that provides helpful information on how businesses can adapt during these difficult times.

“This is a great time to re-strategize, gather information, and plan ahead on what you can do moving forward,” she advised.

To help businesses have more control in mitigating disruption, companies are advised that to give customers assurance that they adhere to safety measures; provide assistance that gets in-touch with them, and bring out new action or experiences like pre-orders or free delivery.

Web Wednesdays is a monthly webinar series by Internet Mobile Association of the Philippines and Certified Digital Marketer, in partnership with ABS-CBN, designed to educate and accelerate digital skills in the Philippines.

Private sector-led Project ARK spearheads rapid testing for COVID-19

In strategizing around COVID-19, business often arrive at a question of life vs. livelihood, health vs. the economy. When we open the economy, what are the repercussions on health? What role then does the private sector play in ensuring our nation’s well-being through the current crisis?

These are the questions that Presidential Adviser for Entrepreneurship and Go Negosyo founder Joey Concepcion tackled in an April 23 video conference, where he and his group publicly introduced Project ARK, a private sector-led initiative that aims to make massive testing possible through the use of Antibody Rapid test Kits.

A two-pronged approach

Project ARK  is anchored on the combined efforts of the government and businesses to make massive testing possible at the community level.

“This isn’t a binary, zero-sum game. This is about how long we can manage the virus until a vaccine is available,” said George Royeca, Chief Transport Advocate of Angkas. “We’re doing a two-pronged approach at Project ARK. Companies that have partnered with us will commit to spend out-of-pocket for the regular testing of their own employees. They will also be encouraged to adopt a barangay and support the testing efforts of the said barangay. It’s important to include residential areas in our efforts because it’s where workers live.”

The project will also launch a data-driven initiative and testing protocol that will help identify persons with antibodies against the virus and possible convalescent plasma donors. Pilot tests have been done in various barangays in Metro Manila as partner companies have donated test kits to different hospitals following the Department of Health protocol.

Data gathered from all the testing activities will be used to map Covid-19 exposure levels in the capital too. This will then enable authorities to determine which barangays need to undergo a targeted quarantine, and which barangays can already be allowed to gradually resume economic operations.

Mass testing as a form of prevention

Mass testing is one of many response systems being discussed by public health experts—with some officials skeptical of its practical effectivity. Among them, Dr. Edsel Salvana, director of the National Institutes of Health, who said mass testing would be a waste of money.

Mr. Concepcion begs to differ, framing it as simply part of the costs of doing business in today’s environment.

“We disagree that massive rapid testing of our employees is a waste of resources,” he said. “It is, in fact, a way of protecting our businesses and the lives of our people. If the business owner does not know who among his employees are infected, that is a far greater risk. This might even result in more damages and might place our factories and plants under future lockdown. The private sector would rather spend more money to ensure the safety and security of our people, rather than risk the health and future of the company.”

Mr. Concepcion explained that mass testing is a form of prevention, one that most mitigation models that were presented to the business sector proved to be key to restarting the economy.

“We just can’t allow things to fall apart,” he said. “This is not a time for finger-pointing; we must take immediate action and seek the cooperation of all parties concerned.”

Companies interested to participate in Project ARK may email opae.gov@gmail.com for further information.

[B-SIDE Podcast] Surviving COVID-19

 

Follow us on Spotify BusinessWorld B-Side

The symptoms of COVID-19 differ from patient to patient. Some people get sicker than others. Some die. Some live. PH 377 lived.

PH 377, who spoke to BusinessWorld reporter Vann Villegas on the condition of anonymity, shares his brush with death and the epiphany he had while confined in the hospital. This episode was recorded remotely on April 17, more than two weeks after PH 377 tested negative for COVID-19 and was able to return home to his family. Produced by Nina M. Diaz, Paolo L. Lopez, and Sam L. Marcelo.

Follow us on Spotify BusinessWorld B-Side

ISIP holds second Social Impact Accelerator Demo Day

Innovation for Social Impact Partnership, or ISIP, held its second Demo Day through a web-based conferencing app last April 17.

ISIP is a project co-implemented by PhilDev Foundation (PhilDev) and United Nations Development Programme in the Philippines (UNDP) and supported by the Australian Embassy.

ISIP’s recent event culminates six months of support and training under the ISIP Social Impact Accelerator for four social enterprises:

  • Filipina Homebased Moms (FHMoms) – a digital platform that equips Filipino mothers with skills that are useful for online jobs
  • MAD Travel – a sustainable experiential travel platform that educates guests on sustainable development issues and practices
  • Magwayen Organics – a sustainable personal care company advocating for marine conversation with products such as MAGWAI, a coral reef-safe sunscreen
  • PeoplePods – a property management platform that provides dignified housing solutions to female migrant workers in Batangas and Laguna

After pitching their solutions to businesses and investors such as the Manila Angel Investors Network, ADB Ventures, the Department of Trade and Industry – Export Marketing Bureau, and Plug and Play Tech Center, the enterprises were also given the opportunity to match with them through separate breakout sessions in the afternoon.

During the event, various stakeholders also addressed the challenge posed by recent events. According to Titon Mitra, resident representative of UNDP, four out of the 15 social enterprises that have been supported by ISIP had to close shop due to the COVID-19 pandemic.

Despite this, there remains a common belief that businesses will pull through these times. “The health crisis has forced us to rethink how we can run our businesses under a new set of conditions,” said Dr. Paco Sandejas, chairman of PhilDev. “Today’s Social Enterprise Showcase demonstrates that through innovation and entrepreneurship, we can develop unique solutions that can address problems and multiply opportunities.”

COVID-19 Outbreak: Tips for transplant patients and those on immunosuppressants

What is COVID-19?
It is a virus that causes a respiratory illness which can be mild for some and very severe for others.

What are the signs & symptoms of a COVID-19 infection?
Common symptoms include fever (temperature ≥ 37.5°C), cough, sore throat and shortness of breath. Some people also have gastrointestinal symptoms like tummy aches and diarrhea. Those with more severe disease may have constitutional symptoms like fatigue and muscle ache.

If you are on immunosuppressants, your symptoms may be different and possibly more severe. Inform your doctor EARLY if you do not feel well.

How is COVID-19 spread?
Person-to-person spread is the main way of disease transmission. This occurs between people in close contact with one another (<2 metres), or through respiratory droplets when an infected person coughs or sneezes.

It may be possible to acquire COVID-19 by touching surfaces and then touching your face.

When do these symptoms start?
Symptoms can start anywhere between 2 days to 2 weeks following exposure to the virus.

Who is at risk of getting very sick from COVID-19?
Data so far shows that adults > 60 years old and people with chronic medical conditions such as diabetes mellitus, chronic kidney disease and heart disease tend to have a more severe illness.

How to prevent COVID-19 infection?
1. Good Hand Hygiene
• Wash your hands with soap & water for at least 20 seconds (sing “Happy birthday” twice); or
• Use an alcohol-based hand sanitizer that contains ≥60% alcohol.
• Clean your hands before & after touching your face, after touching public surfaces in a public place.

2. Clean & Disinfect surfaces
• Routinely clean frequently touched surfaces such as tables, door knobs, light switches, drawer handles, water taps, cell phones, toilets.

3. Practice Social Distancing
• Keep a distance of at least 2 meters between yourself and others in public areas.

What should we avoid?
1. Do not stop or reduce your immunosuppressants without consulting your doctor.

2. Avoid frequent contact between patients & health care workers. Call your Transplant Physician, nephrologist or clinic if you feel unwell. Do not turn up in the clinic unannounced.

3. Avoid touching your face as much as possible. Wash your hands right after touching your face.

4. Avoid touching frequently-used public areas eg. lift buttons, door handles, handrails. Use a tissue if you must touch something, then dispose of the tissue.

5. Avoid crowds, especially in poorly ventilated areas.

 

What to do if you fall sick?
If unwell, call your Transplant Physician, nephrologist or clinic & speak to them. They will decide, after talking to you, if you need to go in to the clinic/hospital.

If you need to visit your doctor, they will plan ahead to identify you if you have fever or symptoms of a respiratory tract infection. Wear a mask before leaving your home.

Ensure you have an adequate supply of meds at home. If you have a caregiver, plan ahead to determine who can care for you should your caregiver fall sick.

Take home message
1. Be aware of warning signs of COVID-19 and have available your doctor’s contact for early medical help.

2. Have an adequate supply of medications at home.

3. Play your part with good hand hygiene and social distancing.

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She has more than 20 years of experience in clinical medicine, and has spent more than 10 years caring for kidney transplant recipients and donors. Her subspecialty interest lies in Kidney Transplantation. Throughout her career, she has facilitated more than 100 Living Donor Kidney Transplants.

For more enquiries, please contact our Patient Assistance Center (Manila) at manila.ph@parkwaypantai.com or +63 917-526-7576.

BSP: Economy may shrink by 0.2%

By Luz Wendy T. Noble
Reporter

THE Philippine economy would probably shrink by 0.2% this year, central bank Governor Benjamin E. Diokno said at the weekend, a day after President Rodrigo R. Duterte again extended the lockdown for Metro Manila by two more weeks to contain a novel coronavirus pandemic.

“On an annual basis, the gross domestic product is expected to shrink by 0.2% in 2020,” he told reporters in a Viber message on Saturday. He added that the economy was likely to bounce back to about 7.7% growth next year “as the impact of the government policy gains traction.”

Mr. Diokno said the economy probably slowed in the first quarter and would contract in the next two quarters before recovering in the last quarter.

Finance Secretary Carlos G. Dominguez III earlier said the economy could shrink by as much as 1% this year.

Before the global pandemic, the government had targeted 6.5%-7.5% growth this year after a revised 6% advance in 2019.

Mr. Diokno said the Philippines was in a better position “unlike most emerging economies” despite the looming risks of recession.

He added that the country was not at risk of a debt default because of the health crisis. “The Philippines is one of the few developing countries that can borrow from multilateral institutions at largely concessional rates,” he added.

Inflation would also probably slow this year, Mr. Diokno said. “Bangko Sentral ng Pilipinas (BSP) forecasts that inflation will average at the low end of the target range at 2% in 2020, down from the previous forecast of 2.2%,” he said.

He added that the major downside risks to inflation are the decline in prices of global crude and non-oil products and the impact of COVID-19 on both global and domestic growth.

Inflation in 2021 is expected at 2.45%, slightly higher than the previous forecast of 2.4%, with BSP taking into account “strong recovery in domestic activity and higher liquidity growth,” Mr. Diokno said.

Inflation averaged 2.7% in the first three months of the year. Inflation in March eased further to 2.5% from 2.6% in February and 3.3% a year earlier.

The economic contraction could be the worst in the second quarter after Mr. Duterte locked down the entire Luzon island starting on March 17, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said in a mobile phone message.

Mr. Duterte extended the enhanced community quarantine twice — first until April 30 for the island and then until May 15 for Metro Manila and nearby cities.

The economy could still shrink in the third quarter “but by a lesser extent assuming there is already some easing of the lockdown and some gradual re-opening of the economy,” he said.

Ruben Carlo O. Asuncion, chief economist at UnionBank of the Philippines, Inc. said the economy might start recovering in the third quarter.

“Critical to this possible scenario is the consumption recovery and investment growth,” he said in a text message.

Mr. Ricafort said the economic outlook for the last quarter may be better assuming the coronavirus disease 2019 (COVID-19) will have been better contained by then.

“Christmas season will also help spur greater economic activities in Q4, as well as the greater effects of the stimulus measures and monetary policy easing to stimulate the economy,” he added.

Mr. Diokno expects foreign direct investments (FDI) to be hit as coronavirus worries cloud investor sentiment.

“The COVID-19 pandemic is seen to significantly but temporarily dampen foreign investment flows in the country in 2020,” Mr. Diokno said in a text message on Sunday.

“Nonetheless, resurgence is expected as soon as concerns on the pandemic dissipate and quarantines are lifted,” he added.

FDI inflows dropped by 23.1% from a year earlier to $7.647 billion last year, according to Bangko Sentral ng Pilipinas (BSP) data.

Before the pandemic, analysts had cited regulatory risks and the vagueness of the local tax reform program as factors for declining FDI flows.

Gov’t tax haul plunges in first half of April

By Beatrice M. Laforga
Reporter

GOVERNMENT TAX collections plunged in the first 15 days of April, mainly as tax payment deadlines were deferred due to lockdown measures implemented in Luzon and other parts of the country.

Citing preliminary data, the Department of Finance (DoF) on Sunday said combined collections by the Bureaus of Internal Revenue (BIR) and Customs (BoC) reached only P40.57 billion from April 1 to 15.

The figure was 87.16% short of the P315.95-billion target for the period, and 84% lower than the P260.45 billion collected during the same period in 2019.

In a statement, the DoF said the BIR collected only P25.01 billion between April 1 to 17, representing 8.66% of its P288.75-billion target for the entire month. This was also 89.5% lower than the P237.93 billion collected in April last year.

DoF attributed the decline to the deferment of tax payment deadlines for income tax returns (ITR), monthly value-added tax (VAT) returns, quarterly VAT payments, among others. The deadline for filing and payment of ITRs was moved to May 29 from April 15 originally, in light of the enhanced community quarantine (ECQ) which began in mid-March.

BIR Deputy Commissioner Arnel SD. Guballa said in a mobile phone message that another deadline extension for ITR payments is “still under evaluation,” after the ECQ in Metro Manila was extended until May 15.

For the BoC, collections reached P15.57 billion in the first half of April, 42.76% short of its P27.2-billion target and 30.89% lower than the P22.52-billion collected in the same period last year.

Customs Assistant Commissioner and Spokesperson Vincent Philip C. Maronilla earlier said that the decline in oil prices and demand has dragged its revenues.

From January 1 to April 17, the total tax haul of the two main revenue-generating agencies stood at P641.62 billion — 40% short of the P1.073-trillion target and 26.3% lower than the P871.19 billion collected in the same period last year.

BIR, which accounts for 78% of the government’s tax collection capacity, generated P480.64 billion from Jan. 1 to April 17, which was short by 45.3% of the P879.18-billion target and 32% lower year on year.

Excise tax collections slumped across all products with total payments only reaching P76.47 billion during the three-and-a-half-month period, 52.75% short of the P161.84-billion target and 33% smaller compared to last year.

“The consistent large excise tax collection drawers — tobacco and alcohol — recorded significant declines in collections,” DoF said.

Excise tax collections from tobacco products reached P33.19 billion, 42.5% lower than last year’s P57.75 billion.

On the other hand, excise tax collection from alcohol products slid 26% to P17.85 billion, from P24.09 billion a year ago.

Year-to-date, the BoC’s collections stood at P160.98 billion, falling 17% short of its P193.89-billion target and 2.08% lower than the P164.4 billion generated last year.

Finance Secretary Carlos Dominguez III earlier cited estimates by the Development Budget Coordination Committee (DBCC) that if the economy posts zero growth this year due to the effects of the pandemic, the drop in revenues will reach around P286.4 billion.

However, if growth contracts by one percent, the revenue drop would reach P318 billion.

National Treasurer Rosalia V. de Leon earlier assured that the funding gap could be covered by revenues generated by other agencies, income of the Treasury, dividends from state-owned firms and other contributions.

BIR and BoC were tasked to collect P3.307 trillion this year, with BIR’s target at P2.576 trillion and BoC’s goal at P731 billion.

PHL seeks another $500-M WB loan for coronavirus response

THE Philippine government is seeking another $500-million (P25.4-billion) loan from the World Bank (WB) to fund programs that will assist poor households and small businesses amid the coronavirus disease 2019 (COVID-19) pandemic.

The World Bank’s Board is scheduled to act on the proposed $500-million Philippines Emergency COVID-19 Response Development Policy Loan on May 20.

“The proposed operation, in the amount of US$500 million, is a stand-alone operation aimed at supporting critical policy and institutional measures taken by the government with the support of the Bank. The Development objective is to (i) mitigate the impact of COVID-19 on the poor and vulnerable households and (ii) provide financial relief to affected small and medium enterprises (SMEs),” the program information document read.

The Washington-based multilateral lender said the Philippine government’s direct cash aid program to 18 million of the poorest families and those in informal sectors; unemployment benefit program; and financial support to displaced overseas Filipino workers will have “positive impact in containing the expansion of poverty in the short-term.”

As the Luzon-wide enhanced community quarantine (ECQ) halted economic activities, the government rolled out social protection programs such as the P205-billion cash aid program to 18 million poor families and the P51-billion wage subsidy program for employees of small businesses.

“These support measures will help cushion the impact on poverty, by ensuring basic needs of poor and vulnerable households will be met during the ECQ despite the income losses incurred. These will prevent an increase in post-COVID poverty,” World Bank said.

WB estimates showed that “post-COVID-19 poverty” in the country could increase by 3.3 percentage points without government intervention while incomes could fall by 16.7% for workers in the informal sector or those under the “no work, no pay” scheme and other entrepreneurial activities due to disruptions caused by the lockdown.

Meanwhile, the WB said the government programs supporting the SME sector such as the two-tranche wage subsidy, credit guarantee scheme and tax breaks are “crucial in preventing small business owners from closing and millions of small business workers from losing their jobs.”

Citing results from a rapid survey of the government, it said 77% of micro and small firms and 62% of medium-sized firms were forced to close during the Luzon-wide lockdown while micro, small and medium enterprises (MSMEs) that remained open during the lockdown suffered an average 66.5% sales drop.

“Without strong government intervention, temporary closures may end up becoming permanent as these firms run out of working capital to finance ongoing fixed costs and risk eventually defaulting on their debt,” the World Bank said.

However, the “poor state of digital infrastructure” may lead to the slow implementation of the two social protection programs.

The multilateral development bank said the strong macroeconomic fundamentals of the country is “considered adequate” for the proposed project, with the economy maintaining its resilience to external and domestic shocks.

The World Bank also flagged that the project’s overall “risk rating is substantial,” largely due to the Philippines’ “political economy and governance challenges, macroeconomic, and weak institutional and implementation capacity.”

A more severe and prolonged virus outbreak is also seen to drag the country’s poverty reduction efforts and economic growth. The World Bank projected the Philippine economy to grow by three percent this year.

“A much worse outbreak that leads to an extended ECQ may risk overwhelming the government’s institutional and fiscal capacity to roll out enough health and social protection for its citizens,” it said.

Last week, the World Bank gave the green light for a $100-million loan for the country’s emergency COVID-19 response programs. It also approved earlier this month the $500-million (P25.4-billion) Third Risk Management Development Policy Loan to improve the government’s capacity to respond to natural disasters, including the COVID-19 pandemic.

On Thursday, the Asian Development Bank (ADB) has likewise approved a $1.5-billion loan to beef up the state’s coffers for coronavirus response.

The Department of Finance earlier said it targets to tap a total of $5.7 billion in financial assistance from multilateral agencies such as the World Bank and ADB. — Beatrice M. Laforga

World’s biggest central banks meet as pressure mounts to do more

GLOBAL CENTRAL BANKS remain under pressure to do more to support their economies through the coronavirus recession even after driving interest rates to record lows and pledging to spend trillions of dollars on asset purchases.

The US Federal Reserve, Bank of Japan (BoJ) and European Central Bank (ECB), which together cover almost half of global output, will all convene meetings of policy makers this week after the pandemic-driven freezing of economies and turmoil in financial markets propelled them into action.

With governments this week set to confirm multi-year expansions ended in the US and euro area in the first quarter, monetary policy makers may have to do more to limit the recession and speed the recovery. Among the options: extending the quantitative easing, helping ease credit to troubled businesses and committing to rock-bottom rates for longer.

“The extremity of the virus crisis is forcing central banks to push the limits of the possible,” said Tom Orlik, chief economist at Bloomberg Economics. “We expect the ECB to expand its fire fighting Pandemic Emergency Purchase Programme and the Bank of Japan to roll out more support for corporates. Ahead of the game in terms of the size and scope of stimulus, the Fed won’t add additional support, but will confirm it has space to do more.”

The April 28-29 Federal Reserve policy meeting will be the first scheduled gathering since January, but officials have met multiple times since then.

They have cut rates to virtually zero and rolled out a series of emergency and unorthodox lending facilities designed to backstop markets and keep credit flowing to businesses. The Fed’s balance sheet has already reached $6.57 trillion.

Economists in a Bloomberg survey have limited expectations for any substantial changes at this week’s meeting. Large majorities, 90% and 87%, said they didn’t expect policy makers to offer any additional guidance on how long they intend to keep rates near zero, or on the future pace of large-scale asset purchases.

But investors will be looking for any indications from Chairman Jerome Powell on how deep the Fed fears the recession will go and its outlook for recovery.

The central bankers are also still being lobbied to do more as they try to get their Main Street lending program up and running. There are calls from some lawmakers to allow more cities and small counties to borrow from it.

The ECB sets policy on Thursday with a heavy weight on its shoulders as governments argue over joint fiscal action.

After President Christine Lagarde told leaders last week that they may have done too little, too late, and warning that the euro-area economy could shrink as much as 15% this year, they still failed to agree on how to structure a recovery fund.

Most economists expect the central bank will keep monetary policy on hold this week. It only recently pledged to bump up its asset purchases by more than a trillion euros this year, and made it easier for banks to finance their loans to companies.

But one in four respondents to a Bloomberg survey said the ECB could still boost the size of its pandemic purchase program from 750 billion euros ($812 billion) as early as Thursday. Most see it happening by September.

Having agreed last week to accept junk bonds as collateral for bank loans, there is also speculation is will add sub-investment grade assets to its purchase plan list.

After stepping up its buying of exchange-traded funds and corporate bond, the Bank of Japan will on Monday discuss allowing unlimited government bond purchases, replacing their current 80 trillion yen target, the Nikkei reported on Thursday.

Governor Haruhiko Kuroda and fellow policy makers will likely take further steps to get credit to businesses hit by the pandemic, according to a Bloomberg survey of economists.

Some 83% of 40 analysts forecast the BoJ will introduce new tools to support bank lending for businesses at a meeting now shortened to one day.

Options include increasing purchase targets for commercial paper and corporate bonds or widening a new lending operation so smaller firms can benefit via smaller banks. — Bloomberg

Inflation for low-income households picks up in March

Inflation for low-income households picks up in March

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